Common use of Time Vesting Units Clause in Contracts

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.

Appears in 4 contracts

Samples: Acknowledgement Agreement (Candela Medical, Inc.), Acknowledgement Agreement (Candela Medical, Inc.), Acknowledgement Agreement (Candela Medical, Inc.)

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Time Vesting Units. With respect to 60% of the Class B Profits Interest Units subject to this Agreement shall be (the “Time Vesting Units”. Subject ), subject to a Participant’s continued employment through each the applicable vesting date, 2.08325% of the Time Vesting Units will vest on each monthly the first annual anniversary of the Effective DateDate of Grant and 6.25% will vest on a quarterly basis thereafter. 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.

Appears in 2 contracts

Samples: Acknowledgement Agreement (Candela Medical, Inc.), Acknowledgement Agreement (Candela Medical, Inc.)

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