TERMS AND CONDITIONS OF THE CC NEW UNITS Sample Clauses

TERMS AND CONDITIONS OF THE CC NEW UNITS. (a) CC New Units. Prior to the date hereof CCH has issued, and after the date hereof and before the Closing Date, CCH intends to issue to employees of CC and its Subsidiaries (or investment vehicles established for the benefit of employees of CC and its Subsidiaries) membership interests in CCH and to allocate the economic benefit of a percentage of the Initial CC New Units (not to exceed in the aggregate 31.8% of the Initial CC New Units) (the “Allocated Units”) to such employees and/or investment vehicles. All of the Allocated Units will be subject to lock-up provisions as least as favorable to CFI as the Employee Restrictions (as defined below), which lock up provisions will not lapse on a schedule more quickly than on a ratable basis on each of the first three anniversaries of the Closing Date. The Allocated Units with respect to membership interests or economic benefits allocated issued after the date hereof will be subject to ratable vesting over at least three years based on continued employment with CFI or CCH and their respective subsidiaries or managed funds or portfolio companies. The Initial CC New Units other than those that are identified as Allocated Units as of the Closing Date, but including such Allocated Units that Barrack subsequently becomes the sole beneficial owner, shall constitute “CC New Units” for purposes of this Agreement. For purposes of clarification, the CC New Units do not include any New Shares received by Xxxxxxxx under the Xxxxxxxx Share Transfer Agreement or the New Shares retained or sold by CC under the Xxxxxxxx Share Transfer Agreement under the Contribution Agreement in respect of payment of tax obligations of Xxxxxxxx or the New Units received by Xxxxxxxx under the Contribution Agreement.
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Related to TERMS AND CONDITIONS OF THE CC NEW UNITS

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