Time Vesting Units. With respect to 50% of the Profits Interest Units subject to this Agreement (the “Time Vesting Units”), subject to a Participant’s continued employment through the applicable vesting date, 25% of the Time Vesting Units xxxx xxxxx vest on the first anniversary of the Date of Grant and the remaining 75% of the Time Vesting Units will then vest ratably on a quarterly basis (e.g., every three (3) months thereafter) over the 12 quarters (36 months) thereafter (therefore, in normal course, the Time Vesting Units will fully vest over the four (4) years from Date of Grant). All Time Vesting Units, not previously forfeited, (subject to Section 4(a)), will vest upon the consummation of a Change of Control.
Time Vesting Units. 60% of the Class B Profits Interest Units subject to this Agreement shall be “Time Vesting Units”. Subject to a Participant’s continued employment through each applicable vesting date, 2.083% of the Time Vesting Units will vest on each monthly anniversary of the Effective Date. All Time Vesting Units, not previously forfeited will vest upon the consummation of a Change of Control, subject to the Participant’s continued employment through such date.
Time Vesting Units. Fifty percent (50%) of the Unit Award are subject to vesting on an annual basis (the “Time Vesting Units”), with twenty percent (20%) vesting on each of the first, second, third, fourth and fifth anniversaries of the Original Effective Date, subject to Executive’s continued employment with the Company on each applicable vesting date.
Time Vesting Units. To the extent that any Time-Vesting Units remain unvested as of the date that is six (6) months following such termination, such unvested Time-Vesting Units shall be forfeited as of such date; provided, that if the termination without Cause occurs within the one-year period after a Change of Control, all unvested Time-Vesting Units shall vest as of the date of termination.
Time Vesting Units. Subject to the terms of this Agreement and the Plan, The Board hereby grant to the Participant ___ of Units ("time Vesting Units") that will vest on December 31, 2023, provided the Participant remains employed by the Company on the date, subject to earlier vesting as set forth in Paragraph 4.
Time Vesting Units of the Deferred Units (the “Time Vesting Units”) shall vest and become Vested Deferred Units as follows: % of such Time Vesting Units shall become on each of, [vesting dates], if, and only if, the Employee is, and has been, continuously (except for any absence for vacation, leave, etc. in accordance with the Company’s or its Subsidiaries’ policies) Engaged from the Grant Date through and including the applicable vesting date.
Time Vesting Units. Subject to Sections 2(b) and 2(c), below, the Class B-Time-Vesting Units (the “Time Vesting Units”) shall become vested and non-forfeitable in five (5) equal and cumulative installments on the schedule set forth below (the “Time Condition”); provided that you remain continuously employed or engaged in service by the Company or any of its Subsidiaries (and no Termination of Services occurs) from the Date of Grant through such date as follows:
(A) The first installment shall consist of 20% of the Time Vesting Units and shall become vested and non-forfeitable on April 26, 2022;
(B) The second installment shall consist of 20% of the Time Vesting Units and shall become vested and non-forfeitable on April 26, 2023;
(C) The third installment shall consist of 20% of the Time Vesting Units and shall become vested and non-forfeitable on April 26, 2024;
(D) The fourth installment shall consist of 20% of the Time Vesting Units and shall become vested and non-forfeitable on April 26, 2025; and
(E) The fifth installment shall consist of 20% of the Time Vesting Units and shall become vested and non-forfeitable on April 26, 2026; Notwithstanding the foregoing, upon the occurrence of a Change of Control, the Time Condition shall be deemed to have been satisfied and the Time Vesting Units shall become fully vested and non-forfeitable immediately prior to the effective date of such Change of Control; provided that you remain continuously employed or engaged in service by the Company or any of its Subsidiaries (and no Termination of Services occurs) from the Date of Grant through the consummation of such Change of Control.
Time Vesting Units. With regard to 1/3 of the Class B Units granted hereunder (the “Time-Vesting Units”), the percentage of such Time-Vesting Units that will be Vested Units in respect of a Termination Date occurring: • prior to 12 months after the Closing Date, will be 0%; • on or after 12 months after the Closing Date, but prior to 24 months after the Closing Date, will be 33 1/3%; • on or after 24 months after the Closing Date, but prior to 36 months after the Closing Date, will be 33 1/3%; and • on or after 36 months after the Closing Date, will be 100%. Notwithstanding the foregoing, immediately prior to, and following, the occurrence of a Change of Control that occurs prior to the Termination Date, 100% of the Time-Vesting Units that are Unvested Units shall become Vested Units. If Director’s employment with the Company and its Subsidiaries is terminated by the Company or any of its Subsidiaries without Cause (such termination, a “Qualifying Termination”) or due to Director’s death or Disability, then a percentage of the Time-Vesting Units that would have become Vested Units on the next anniversary of the Closing Date shall become Vested Units, with such percentage equal to the number of days that have elapsed since the previous anniversary of the Closing Date divided by 365. Any Time-Vesting Units that are Unvested Units on a Termination Date shall be immediately forfeited by Director (or, to the extent a forfeiture is not permissible, such Time-Vesting Units that are Unvested Units shall be subject to the Call Option in Section 4.2(a) with the purchase price per Unvested Unit equal to the lesser of (A) Fair Market Value thereof (measured as of the Valuation Date) and (B) Cost).
Time Vesting Units. With respect to 50% of the Profits Interest Units subject to vesting under this Agreement (excluding, for the avoidance of doubt, the Immediately Vested Interests) (the “Time Vesting Units”), subject to a Participant’s continued employment through the applicable vesting date, 25% of the Time Vesting Units xxxx xxxxx vest on the first anniversary of the date of grant and the remaining 75% of the Time Vesting Units will then vest ratably on a quarterly basis (e.g., every 3 months thereafter) over the following 12 quarters (36 months) thereafter (therefore, in normal course, the Time Vesting Units will fully vest over the four years from date of grant). All Time Vesting Units, not previously forfeited, (subject to Section 4(a)), will vest upon the consummation of a Change of Control. For the avoidance of doubt, 1,040,225.324 Profits Interest Units granted hereunder are Time Vesting Units.
Time Vesting Units. With regard to 80% of the Class B Units granted hereunder (the “Time-Vesting Units”), the percentage of such Time-Vesting Units that will be Vested Units in respect of a Termination Date occurring: • prior to 3 months after the Vesting Date, will be 0% • on or after 3 months after the Vesting Date, but prior to 6 months after the Vesting Date, will be 6.25% • on or after 6 months after the Vesting Date, but prior to 9 months after the Vesting Date, will be 12.5% • on or after 9 months after the Vesting Date, but prior to 12 months after the Vesting Date, will be 18.75% • on or after 12 months after the Vesting Date, but prior to 15 months after the Vesting Date, will be 25% • on or after 15 months after the Vesting Date, but prior to 18 months after the Vesting Date, will be 31.25% • on or after 18 months after the Vesting Date, but prior to 21 months after the Vesting Date, will be 37.5% • on or after 21 months after the Vesting Date, but prior to 24 months after the Vesting Date, will be 43.75% • on or after 24 months after the Vesting Date, but prior to 27 months after the Vesting Date, will be 50% • on or after 27 months after the Vesting Date, but prior to 30 months after the Vesting Date, will be 56.25% • on or after 30 months after the Vesting Date, but prior to 33 months after the Vesting Date, will be 62.50% • on or after 33 months after the Vesting Date, but prior to 36 months after the Vesting Date, will be 68.75% • on or after 36 months after the Vesting Date, but prior to 39 months after the Vesting Date, will be 75% • on or after 39 months after the Vesting Date, but prior to 42 months after the Vesting Date, will be 81.25% • on or after 42 months after the Vesting Date, but prior to 45 months after the Vesting Date, will be 87.5% • on or after 45 months after the Vesting Date, but prior to 48 months after the Vesting Date, will be 93.75% • on or after 48 months after the Vesting Date, will be 100%; Notwithstanding the foregoing: • immediately prior to, and following, the occurrence of a Change of Control that occurs prior to the Termination Date, 100% of the Time-Vesting Units that are Unvested Units shall become Vested Units; • if the Sponsor receives cash proceeds in respect of 50% of its units in Holdings (measured as of the Vesting Date) equal to at least 200% of the Sponsor’s aggregate capital contributions in respect of such units prior to the Termination Date, 100% of the Time-Vesting Units that are Unvested Units shall become Vested ...
