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: Profits Interest Unit Award Agreement (Candela Medical, Inc.), Profits Interest Unit Award Agreement (Candela Medical, Inc.), Profits Interest Unit Award Agreement (Candela Medical, Inc.)
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: Profits Interest Unit Award Agreement (Candela Medical, Inc.), Profits Interest Unit Award Agreement (Candela Medical, Inc.)
