Time-Based Units. Executive’s Time-Based Units shall continue to time vest in accordance with the vesting schedule set forth on Appendix B. Except as otherwise provided in this Agreement, there shall be no proportionate or partial vesting in the periods prior to each vesting date set forth on Appendix B and all vesting shall occur only on the applicable vesting date set forth on Appendix B, provided that Executive has not been Terminated prior to each applicable vesting date. Notwithstanding the foregoing, any Time-Based Units shall become fully vested upon the occurrence of an Acceleration Event, so long as Executive has not been Terminated prior to the date of such Acceleration Event.
Time-Based Units. Subject to Sections 2 and 5 below, one hundred percent (100%) of the Time-Based Units subject to the Award shall vest and become nonforfeitable on the last day of the Time-Based Vesting Period (as set forth on the cover page of this Award Agreement) (the “Time-Based Unit Vesting Date”).
Time-Based Units. Up to fifty percent (50%) of the Class B Units subject to this Award (the “Time-Based Units”) shall be eligible to vest over a period of four years from July 10, 2023 (the “Vesting Commencement Date”) as follows, in each case, provided that the Participant remains in continuous Service through the applicable vesting date and, in each case, rounded down to the nearest whole Class B Unit, with any fractional Class B Units carried over to the next vesting date: Percentage of Time-Vesting Units Cumulative Percentage of Time-Vesting Units Time Vesting Schedule 25% 25% One-year anniversary of the Vesting Commencement Date 25% 50% Two-year anniversary of the Vesting Commencement Date 25% 75% Three-year anniversary of the Vesting Commencement Date 25% 100% Four-year anniversary of the Vesting Commencement Date Notwithstanding the foregoing, in the event that the Participant’s Service is terminated without Cause or due to the Participant’s death or disability, or if the Participant resigns for Good Reason (as defined in the Employment Agreement) (in each case pursuant to the terms of the Employment Agreement) prior to the one-year anniversary of the Vesting Commencement Date (the date of such termination, the “Year 1 Termination Date”), the percentage of the Time-Based Units that shall vest will be equal to the result of (I) (A) the number of calendar days between the Vesting Commencement Date and the Year 1 Termination Date divided by (B) 365 multiplied by (II) 25%, rounded down to the nearest whole Class B Unit. In the event of a Change of Control, all Time-Based Units that are then outstanding and Unvested shall automatically become Vested upon the consummation of such Change of Control, subject to the Participant’s continued Service through such Change of Control. If a Time-Based Unit would not be entitled to receive any distributions at the time of a Change of Control if all the assets of the Partnership were then sold at Fair Market Value and then the proceeds were distributed in a complete liquidation of the Partnership in accordance with Section 4.1 of the LP Agreement and the provisions of this Agreement, such Time-Based Unit will be immediately and automatically canceled and terminated upon the consummation of the Change of Control, without payment of any consideration and without any action on the part of the Participant. For the avoidance of doubt, in no event will more than 100% of the Time-Based Units (representing 50% of the Class B Units subject to ...
Time-Based Units. Subject to the Participant’s continued employment or other service with the Company or its Subsidiaries through the Applicable Time-Based Vesting Date (as defined herein), the Time-Based Units shall become vested and earned on the following vesting dates: one-third (1/3) of the Time-Based Units shall vest and become earned on each of the one-year, two-year and three year anniversaries of the Vesting Commencement Date; provided that any remaining unvested Time-Based Units shall become fully vested and earned upon any earlier Change in Control or the occurrence of any other event specified in Section 3(b)(ii), (iii) or (iv) of the Employment Agreement (each an “Applicable Time-Based Vesting Date”).
Time-Based Units. Except as may otherwise be provided in the Plan or this Agreement, the Time-Based Units shall vest in the amounts set forth below: On _______________, 20__ ___________ shares of Common Stock
Time-Based Units. Forty percent (40%) of the Incentive Units will be subject to time-based vesting (the “Time-Based Units”). The Time-Based Units will vest 25% on December 31, 2018 and monthly thereafter in equal installments until December 31, 2021, except that all vesting of the Time-Based Units shall cease immediately upon termination of Executive’s employment with the Partnership, General Partnership or any of the Subsidiaries for any reason, or, if applicable, upon the Final Vesting Date. Upon the occurrence of a Sale of the Partnership (as defined below), any Time-Based Units that have not yet vested shall vest at the time of such event, provided that the Executive has not Terminated prior to such date, or if applicable, the Final Vesting Date shall not have occurred on or prior to such date.
Time-Based Units. (a) In the event of (i) Termination Event prior to the earliest of (A) the applicable Time-Based Vesting Date set forth below, (B) a Change in Control, or (C) a Qualifying Event and (ii) the absence of a Change in Control during the twelve -month period immediately following such termination, Executive shall automatically forfeit the number of Units set forth below adjacent to such Time-Based Vesting Date for no consideration on the first day following the twelve -month anniversary of such termination of Employment: Time-Based Vesting Date Number of Time-Based Units Forfeited October 26, 2019 270,163.72 October 26, 2020 270,163.72 October 26, 2021 270,163.72 provided that, no such forfeiture shall occur with respect to any Units that upon such termination of Employment would become vested in accordance with the terms of the Employment Agreement. For the avoidance of doubt, except as set forth in the Employment Agreement, the number of Time-Based Units forfeited on the twelve -month anniversary of a termination of Employment pursuant to this Section 3.1(a) will equal the aggregate sum of all Time-Based Units related to each Time-Based Vesting Date occurring after the date of such termination of Employment (as set forth on the table above).
Time-Based Units. Twenty-two (22) of the Time-Based Units that are the subject of this Agreement shall vest on August 1, 2008, and an additional twenty-two (22) of the aggregate Time-Based Units that are the subject of this Agreement shall vest on each of the first three anniversaries of such first vesting date (each an “Anniversary Date”), provided that the Participant has not incurred a Termination of Service prior to each such Anniversary Date. Notwithstanding the foregoing, Time Based Units shall become fully vested immediately prior to a “Liquidation Event” (as defined in the Plan), provided that the Participant has not incurred a Termination of Service prior to such Liquidation Event.
Time-Based Units. Except as may otherwise be provided in the Plan or this Agreement, the Time-Based Units shall vest in the amounts set forth below: On _______________ ___________ shares of Common Stock. The Corporation shall, as soon as practicable upon the vesting of any Time-Based Units (but in no event later than sixty (60) days following the date on which such Time-Based Units vest), effect delivery of the shares of Common Stock with respect to such vested Time-Based Units to the Recipient (or, in the event of the Time-Based Units have passed to the estate or beneficiary of the Recipient or a permitted transferee, by such estate or beneficiary or permitted transferee) and, following such delivery of such shares, such vested Time-Based Units shall cease to be outstanding.
Time-Based Units. Fifty percent (50%) of the Units will be subject to time-based vesting conditions (the “Time-Based Units”), and will become eligible to vest over a period of four years as follows: Percentage of Time-Vesting Units Time Vesting Schedule 25% of the Units First anniversary of the Vesting Commencement Date 25% of the Units Second anniversary of the Vesting Commencement Date 25% of the Units Third anniversary of the Vesting Commencement Date 25% of the Units Fourth anniversary of the Vesting Commencement Date There shall be no proportionate or partial vesting in the periods prior to each vesting date set forth above. Notwithstanding anything to the contrary contained herein, if an Acceleration Event occurs at a time when the Participant is Employed, all unvested Time-Based Units that are then outstanding shall automatically vest upon the consummation of such Acceleration Event.
