Examples of LTIP Unit Award in a sentence
This Agreement and the grant of the LTIP Unit Award shall not interfere with the right of the Company or an Affiliate to terminate the Participant’s employment.
The right to distributions with respect to the LTIP Units shall be determined as set forth in the LTIP Unit Award Agreement and the applicable Partnership Agreement.
Notwithstanding anything herein to the contrary, this LTIP Unit Award shall be subject to all of the terms and conditions of the Plan and the Partnership Agreement.
This Agreement and the grant of the LTIP Unit Award does not give the Participant any rights with respect to continued employment by the Company or an Affiliate.
Seventy-five percent (75%) of each Participant’s LTIP Award shall consist of a grant of performance-based LTIP Units subject to the rights, preferences and other privileges as designated in the Partnership Agreement and subject to the terms and conditions of the Performance Based LTIP Unit Award Agreement, the form of which is attached as Exhibit B hereto (the “Performance Based Award Agreement” and along with the Time Vested Award Agreement, the “Award Agreements”).
As of the Effective Date, Executive shall be granted 420,000 LTIP Units (the "LTIP Award") pursuant to a separate written LTIP Unit Award Agreement under the Plan.
This LTIP Unit Award Agreement does not confer upon the Participant any right to continue as an employee, partner or other service provider to the Partnership.
This LTIP Unit Award Agreement shall be binding upon the heirs, executors, administrators and successors of the parties hereto.
The Participant’s interest in the Units covered by this LTIP Unit Award shall become vested and non-forfeitable (“Vested”) based on the attainment of absolute and relative Total Shareholder Return (“TSR”) hurdles.
This LTIP Unit Award Agreement shall be construed and interpreted in accordance with the laws of the State of Delaware, without regard to the principles of conflicts of law thereof.