Common use of Service Units Clause in Contracts

Service Units. The Service Units shall vest in five equal annual installments on each of the first through fifth anniversaries of the issuance date, subject to the Management Member's continuous provision of services to or for the benefit of the Company until the applicable vesting date. All of a Management Member's Service Units shall also vest immediately prior to the occurrence of a Change in Control.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Dresser-Rand Group Inc.), Limited Liability Company Agreement (Dresser-Rand Group Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!