Management Incentive Units definition

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 200,000 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.

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.

Examples of Management Incentive Units in a sentence

• Represents shares of restricted Common Stock issuable in the Reorganization in exchange for Management Incentive Units in the LLC held by the Reporting Person.

• Shares of Class B common stock will not be issued to the LLC Unitholders with respect to the Management Incentive Units.

• Eisbrenner was entitled to Management Incentive Units under the NextDecade Incentive Plan that represented actual (non-voting) equity interests in NextDecade.

• 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.

• Staff is expected to be in post during Q3. Robust programme management both within the Trust and across the whole system, with a newly created Head of System Resilience post currently being recruited to.

More Definitions of Management Incentive Units

Management Incentive Units means any Units issued by the Company that are designated as “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 Unit Return Threshold” has the meaning set forth in Section 3.01(c).

Management Incentive Units means Class C Units or such other class of Units that are issued pursuant to a Management Incentive Plan or an Incentive Unit Grant Agreement, as such terms are defined in the LLC Agreement.

Management Incentive Units has the meaning set forth in Section 2.9.

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.

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