Unit Options Sample Clauses

Unit Options. As of the Effective Date, the Employee will receive an award of non-qualified options to purchase up to 50,000 Units of Linn Energy at a per share exercise price equal to the fair market value of a Unit as of the date of grant, which shall be awarded under the terms of the Linn Energy, LLC Long Term Incentive Plan or any successor plan, as it may be in effect from time to time (the “Incentive Plan”), and subject to a service-based vesting schedule and such other terms and conditions set forth in the applicable option agreement.

Unit Options. Except as disclosed in the Registration Statement (excluding the exhibits thereto), the Disclosure Package and the Prospectus, each stock or unit option granted under the Partnership’s Unit Option Plan or FCI’s Incentive Compensation Plan (each, an “Option Plan”) was granted with a per share or per unit exercise price no less than the fair market value per share or Common Unit on the grant date of such option, and no such grant involved any “back-dating,” “forward-dating” or similar practice with respect to the effective date of such grant; and except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, each such option (i) was granted in compliance with applicable law and with the applicable Option Plan, (ii) was duly approved by the board of directors (or a duly authorized committee thereof) of the General Partner or FCI, as applicable, and (iii) has been properly accounted for in the financial statements of the Ferrellgas Parties in accordance with U.S. generally accepted accounting principles and disclosed in the their respective filings with the Commission.

Unit Options. Within thirty days following the execution of this Agreement and Manager’s commencement of work in accordance thereof, Manager shall be granted one or more options to purchase an aggregate of 25,000 A Common Non-Voting Units of the Company (the “Options”) at a purchase price of FMV per Unit. The Units acquired upon exercise of the Options shall be subject to (i) a right of repurchase as defined in the LLC Agreement and/or the 2004 Unit Option Plan and (ii) a right of first refusal which shall terminate upon the completion of the Company’s initial Public Offering (as defined below). In the event that Manager’s employment with the Company is terminated, Manager shall have ninety (90) days following such termination to exercise any vested Options; provided, however, that in the case of termination due to death or disability, such period to exercise shall be six (6) months. Notwithstanding the foregoing, the Options shall not be exercisable after the expiration of their terms. The Options shall vest as follows: immediately Units on , 200 (which options shall be immediately exercisable); and an additional Units on . Except as provided herein, such Options shall be subject to the terms of the Company’s 2004 Unit Option Plan and the option agreements provided to Manager pursuant to the plan, and Manager’s receipt of the Options shall be subject to his executing such option agreement. A copy of each of the 2004 Unit Option Plan and such option agreement are attached hereto as Exhibit A and Exhibit B, respectively. The number of Units and option price per Unit set forth in this Section 4 shall be adjusted to reflect any Unit splits or Unit dividends after the Effective Date.

Unit Options. The options granted to the Employee under his Prior Employment Agreement, none of which have been exercised, are modified as follows:

Unit Options. All Unit Options outstanding immediately prior to the Effective Time shall be cancelled and shall cease to exist, and each holder of a Unit Option shall cease to have any rights with respect thereto, except as provided in Section 6.07.

Unit Options. The Partnership has taken all actions necessary to cause each Unit Option outstanding to be canceled automatically at the Effective Time and thereafter represent only the right to receive from the Survivor an amount of cash in respect of such Unit Option equal to the product of (i) the excess, if any, of (x) the Merger Price over (y) the exercise price per Unit subject to such Unit Option and (ii) the number of Units subject to such Unit Option immediately prior to its cancellation. (a) All amounts payable pursuant to this Section 6.07 shall be subject to any required withholding of Taxes and shall be paid as soon as practicable, without interest. (b) The Board of Directors of the General Partner has taken such actions as are required to cause (i) the Unit Option Plan to terminate as of the Effective Time and (ii) the provisions in any other Partnership Benefit Plan providing for the issuance, transfer or grant of any Units or any interest in respect of any limited partner interests of the Partnership (or any Subsidiary) to be terminated as of the Effective Time such that following the Effective Time no holder of a Unit Option or any participant in the Unit Option Plan or other Partnership Benefit Plan shall have any right thereunder to acquire any capital stock or other equity interest of the Survivor (or any Subsidiary). (c) For purposes of this Agreement:

Unit Options. If, on June 30, 2000, the Company has not become a wholly-owned subsidiary of Alamosa PCS Holdings, Inc., a Delaware corporation ("Holdings"), then on said date the Company will convert the membership interests in the Company to forty-eight million five hundred thousand (48,500,000) membership units, and shall grant to the Employee options to purchase membership units in the Company as follows:

Unit Options. During the Term, Employee may earn the right to options to purchase 1,500,000 Units of the Operating Partnership, as evidenced by the form of the Unit Option Agreements, attached hereto as Exhibits A and B.

Unit Options. (a) Within thirty days following the execution of this Agreement and Manager’s commencement of work in accordance thereof, Manager shall be granted one or more options to purchase an aggregate of 50,000 A Common Non-Voting Units of the Company (the “Options”) at a purchase price of $.50 per Unit. In addition, within 180 days following the execution of this Agreement and Manager’s commencement of work in accordance thereof, Manager shall be granted one or more options to purchase an aggregate of 25,000 A Common Non-Voting Units of the Company (the “Options”) at a purchase price of $.50 per Unit. The Units acquired upon exercise of the Options shall be subject to (i) a right of repurchase as defined in the LLC Agreement and/or the 2004 Unit Option Plan and (ii) a right of first refusal which shall terminate upon the completion of the Company’s initial Public Offering (as defined below). In the event that Manager’s employment with the Company is terminated, Manager shall have ninety (90) days following such termination to exercise any vested Options; provided, however, that in the case of termination due to death or disability, such period to exercise shall be six (6) months. (b) In addition to 4(a) above, Manager shall be entitled to receive an additional seventy five thousand (75,000) A Common Non-Voting Units of the Company (the “Second Options”), at a strike price of the lesser of either $1.00 per Unit or the Fair Market Option Value of the company as determined by the Company Auditors, at the one (1) year calendar anniversary following the commencement of Manager’s employment with the Company or at the time upon which the options are issued or vest. The Second Options shall vest as follows: 25,000 Units on June 15th, 2006 (which options shall be immediately exercisable); and an additional 25,000 Units on June 15th, 2007, and an additional 25,000 Units on June 15th, 2008. (c) In addition to 4 (a) and (b) above, Manager shall be eligible to earn an additional one hundred thousand (100,000) A Common Non-Voting Units of the Company (the “Third Options”), during Managers employment with the Company, according to the following formula: For every six hundred thousand dollars ($600,000) of post-commission Gross Margin of the Company, Manager shall earn ten thousand (10,000) Options, at a strike price of the lesser of either $1.00 per Unit or the Fair Market Option Value of the company as determined by the Company Auditors. Such Third Options shall be immediately...

Unit Options a) Option to purchase Preferred Units equivalent to up to 0.5% of Sky Harbour percentage interest.