Employee Incentive Units definition

Employee Incentive Units has the meaning set forth in Section 3.6(a); provided, however, for purposes of Section 3.7, Employee Incentive Unit shall also include Class A Common Units held by any Management Member that were issued in respect or replacement of Class C Units held by such Management Member under the Third Amended and Restated Limited Liability Company Agreement of the Company, dated as of May 22, 2018, which Class A Common Units, for the avoidance of doubt, shall continue to vest (and shall also be referred to hereunder as “Vested Units” or “Unvested Units”, as applicable) in accordance with the vesting schedule applicable to such Class C Units.

Employee Incentive Units has the meaning set forth in Section 3.4(a).

Employee Incentive Units has the meaning set forth in the LLC Agreement.

Examples of Employee Incentive Units in a sentence

• The Managing Member shall have power and discretion to approve which directors, employees, officers or consultants shall be offered and issued such Class P Units (“Employee Incentive Units”), the number of Employee Incentive Units to be offered and issued to each Management Member and the purchase price and other terms and conditions with respect thereto.

• To the extent information is required to be disclosed to any Member pursuant to this Agreement or the Delaware Act, pursuant to Section 18-305(g) of the Delaware Act, each Member acknowledges and agrees that portions of this Agreement may be redacted by the Managing Member or information herein may otherwise be aggregated by the Managing Member to prevent disclosure of confidential information with respect to individual allocations of Employee Incentive Units.

• If the Managing Member so determines, the Employee Incentive Units issued to any Management Member shall become vested in accordance with the vesting schedule determined by the Managing Member in connection with the issuance of such Employee Incentive Units (and reflected in the relevant Employee Incentive Unit Agreement), which may be time-based or performance-based.

• If any such restrictions prohibit the repurchase of Employee Incentive Units hereunder which the Company is otherwise entitled to make, the Company may make such repurchases as soon as it is permitted to do so under such restrictions, and during such period of time, the purchase price payable to the holder shall accrue interest at a rate per annum equal to 5%.

• However, shifts at the landscape-level take a long time because of the involvement of influential variables, like cultural patterns, political developments, and historical issues (Geels & Schot, 2007).

• Employee Incentive Units that are subject to vesting and that are not yet vested per such vesting schedule are referred to herein as “Unvested Units”.

• If any Employee Incentive Units are held by any transferees of a Management Member, the Company will purchase the Employee Incentive Units elected to be purchased from all such holder(s) of Employee Incentive Units, pro rata according to the number of Employee Incentive Units held by each such holder(s) at the time of delivery of such Repurchase Notice (determined as nearly as practicable to the nearest Employee Incentive Units).

• The Company will receive customary representations and warranties from each seller regarding the sale of the Employee Incentive Units, including, but not limited to, representations that such seller has good and marketable title to the Employee Incentive Units to be transferred free and clear of all encumbrances.

• If Employee Incentive Units of different classes or series are to be purchased pursuant to the Repurchase Option and such Employee Incentive Units are held by any transferees of a Management Member, the number of Employee Incentive Units of each class or series of Employee Incentive Units to be purchased will be allocated among all such holders, pro rata according to the total number of Employee Incentive Units to be purchased from such Persons.

• A congested but consistent commute is easier to plan for than a less congested but very unreliable commute.

More Definitions of Employee Incentive Units

Employee Incentive Units is defined in Section 4.9.

Employee Incentive Units has the meaning set forth in the recitals hereto.

Employee Incentive Units means (i) the Incentive Units and (ii) all equity securities issued with respect to the equity referred to in clause (i) above by way of unit or stock dividend or distribution or stock or unit split in connection with any conversion, merger, consolidation or recapitalization or other reorganization affecting the Class C Common Units.

Employee Incentive Units means (i) all Class C Common Units issued hereunder and (ii) all equity securities issued with respect to the equity referred to in clause (i) above by way of unit or stock dividend or distribution or stock or unit split in connection with any conversion, merger, consolidation or recapitalization or other reorganization affecting the Class C Common Units.