Management Incentive Units definition

Management Incentive Units means the Common Units issued to the Management Members that have a Distribution Threshold and were subject to a Common Unit Certificate at the time of the issuance thereof.

Management Incentive Units has the meaning set forth in Section 3.6(a).

Management Incentive Units or “MIUs”). Executive will receive an initial allocation of 125,000 MIUs as referenced in the LLC Agreement. All MIUs will be subject to vesting terms whereby if Executive has continued to serve the Company in the capacity of an employee, a fractional portion of the number of MIUs awarded will vest according to the following schedule: (i) 15% on each of the first five anniversaries of the date of the award of such MIUs, June 1, 2010 and (ii) 25% on the date of the final liquidation of the Company. For the avoidance of doubt, an initial public offering (“IPO”) or any similar event will not be treated as a liquidation of the Company; provided, however, that in the event of an IPO the 25% vesting referenced in clause (ii) with respect to any MIUs will occur on the fifth anniversary of the date of the award of such MIUs. In the event of any interim monetization event that results in a distribution of cash with respect to MIUs, solely for purpose of that distribution, all the MIUs held by Executive will be treated as if they are fully vested.

Examples of Management Incentive Units 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.

• Capital Contribution (at $0.07 p/tonne p/km; at 140,000 tonnes over 1.5km) = $16170 (inc GST) to Account/Job #11202750 (Limited Cartage Campaign).

• The Management Incentive Units are intended to constitute “profits interests” within the meaning of Revenue Procedures 93-27 and 2001-43, unless the Board of Managers determines otherwise with respect to particular Management Incentive Units.

• In the event of any such reissuance, (i) the Stated Distribution with respect to such reissued Management Incentive Units shall be determined by the Conflicts Committee and (ii) the Management Incentive Units shall be subject to any vesting or other restrictions imposed by the Conflicts Committee.

More Definitions of Management Incentive Units

Management Incentive Units has the meaning set forth in the Holdings LLCA.

Management Incentive Units means any Units issued by the Company that are designated as “Management Incentive Units.”

Management Incentive Units means the Units designated Management Incentive Units under the Company Operating Agreement.

Management Incentive Units has the meaning given such term in the LLCA.

Management Incentive Units means the “Management Incentive Units” in the Borrower described in the Borrower’s incentive compensation plan as established in Section 3.4(a) of the LLC Agreement held by Xxxxxx X. Xxxxxxx and Xxxxx X. Xxxx as of May 12, 2015, and any additional Management Incentive Units in the Borrower issued to Xxxxxx X. Xxxxxxx and Xxxxx X. Xxxx following such date pursuant to the terms of the LLC Agreement.

Management Incentive Units has the meaning ascribed thereto in the Company LLC Agreement.

Management Incentive Units means the Units designated as Management Incentive Units having the rights to receive distributions and allocations of Net Profits and Net Losses (and items thereof) of the Company as set forth for such Units herein, which Units are issued to the Persons designated as Management Incentive Members in the amounts set forth opposite such Member’s name as such Member’s Management Incentive Units on Exhibit A attached hereto or in the books and records of the Company, as amended or supplemented from time to time. Each Member intends that any Management Incentive Units will represent “profits interests,” as that term is defined in Revenue Procedure 93-27, 1993-2 C.B. 343, as clarified by Revenue Procedure 2001-43, 2001-2 C.B. 191.