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.

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

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

Examples of Management Incentive Units in a sentence

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 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.
In the event of any such reissuance, such Management Incentive Units shall have all of the rights and obligations under this Agreement as if such Management Incentive Units had been continuously held by the Grantee, subject to any vesting or other restrictions imposed by the Conflicts Committee.
Management Incentive Units shall convert into Common Units as provided in this Section 5.10(e).
In the event of any such reissuance, such Management Incentive Units shall have all of the rights and obligations under this Agreement as if such Management Incentive Units had been continuously held by the Grantee, subject to any vesting or other restrictions and restrictions on conversion privileges imposed by the Conflicts Committee.

More Definitions of Management Incentive Units

Management Incentive Units or “MIUs”). Executive will receive an initial allocation of 210,000 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 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 has the meaning set forth in the Holdings LLCA.

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

Management Incentive Units. (as defined in the Company LLC Agreement) of the Company.

Management Incentive Units has the meaning set forth in the Prior Agreement.

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

Management Incentive Units. The Board shall have the power and discretion to establish a Management Incentive Plan setting forth such terms and conditions as the Board shall deem appropriate to facilitate the issuance of Management Incentive Units. The Board shall have the power and discretion to approve which Eligible Service Providers shall be offered and issued such Management Incentive Units, the number of Management Incentive Units to be offered and issued to each such Eligible Service Provider, the vesting, forfeiture and other restrictions, if any, governing such Management Incentive Units, the purchase price therefor, if any, and the any such other terms and conditions as it shall deem appropriate. In connection with any approved issuance to any Eligible Service Provider of Management Incentive Units hereunder, such Eligible Service Provider shall execute a counterpart to this Agreement, or otherwise be deemed to have become a party to this Agreement by executing a Management Incentive Unit Agreement, accepting and agreeing to be bound by all terms and conditions hereof, and shall enter into such other documents and instruments to effect such purchase (including, without limitation, a Management Incentive Unit Agreement) as are required by the Board. This Section 3.8, together with any Management Incentive Plan and the Management Incentive Unit Agreements pursuant to which the Management Incentive Units are issued, are intended to qualify as a compensatory benefit plan within the meaning of Rule 701 of the Securities Act and the issuance of Management Incentive Units pursuant hereto is intended to qualify for the exemption from registration under the Securities Act provided by Rule 701; provided that the foregoing shall not restrict or limit the Company's ability to issue any Management Incentive Units pursuant to any other exemption from registration under the Securities Act available to the Company.