Examples of Employee Holdings in a sentence
The Management Incentive Units will be subject to, and governed by, the terms and conditions set forth in the Second Amended and Restated Limited Liability Company Agreement of Employee Holdings, as amended from time to time (the “Employee Holdings LLC Agreement”) and an award agreement between Employee Holdings and Employee.
Any payments paid under this Section 7(b) shall be in lieu of any severance benefits otherwise due to Employee under any severance pay plan or program maintained by the Company that covers its employees or Employees generally; provided, however, the effects of any termination of Employee’s employment with the Company on the Management Incentive Units shall be as provided in the Employee Holdings LLC Agreement.
The Purchase Price shall be paid in accordance with the terms of that certain letter agreement on the matter of “Payment for Purchased Units”, dated the Effective Date, among Employee, Holdings LP, the Company and Parent.
In addition, VX Employee Holdings, LLC, a Virgin America employee stock ownership vehicle consolidated for financial reporting purposes (“Employee LLC”), sold 231,210 issued and outstanding shares as a selling stockholder.
Additionally, EP’s ownership of EPE Employee Holdings II, LLC is also reflected as zero because EPE Employee Holdings II, LLC does not hold any assets or liabilities and has no operations.
As before, the desired power at the PCC is known, but it is not used in the control loop; it is used to compute the correspondent energy amount in the timeframe considered instead.
On the Effective Date, EPE Employee Holdings, LLC (“Employee Holdings”) shall issue to Employee 69,328 Class B Units in Employee Holdings as of the Effective Date (the “Management Incentive Units”).
Furthermore, for so long as Jin Chen Employee Holdings Limited holds or controls shares in the Company, all voting rights attaching to such shares shall be exercised by an investment review panel consisting of Ms. JIANG Peizhen and/or such other person(s) as they may wish to appoint.
The Incentive Units are hereby issued as of the Effective Date to Employee Holdings subject to compliance by Employee Holdings with the condition that the Incentive Units shall at all times be held of record solely by Employee Holdings.
Effective with the formation of the Company on December 20, 2017, the Company adopted an incentive unit plan, THQ-XcL Employee Holdings I, LLC, (the Plan) to provide profit awards to employees (management incentive units).