Examples of Vested Class B Units in a sentence
From: ncmftlb@nc.rr.com <ncmftlb@nc.rr.com>Sent: Monday, April 8, 2019 1:34 PMTo: Reeder, Amanda J <amanda.reeder@oah.nc.gov>Subject: RE: [External] RE: RRC Request for Technical Changes CAUTION: External email.
Six and one quarter percent (6.25%) of the Time Vesting Units shall become Vested Class B Units upon the expiration of each full three month period which shall elapse during the period commencing on (and including) the Closing Date and through (and including) the date on which a Termination of Employment shall occur or the date on which the percentage of the Management Securityholder’s Time Vesting Units which are Vested Class B Units equals 100%, whichever first occurs.
If the aggregate number of Earned Class B Units under this Agreement is less than the number of Award Class B Units under this Agreement after any such determination, then the Committee will repeat the process in this Section 3(c) on each subsequent Valuation Date until all Vested Class B Units have either become Earned Class B Units or have been forfeited pursuant to Section 4 of this Agreement.
In the event that prior to a Termination of Employment of the Management Securityholder, a Change of Control or liquidation of the Partnership shall occur, then effective as of the date of such event, the total Time Vesting Units which shall constitute Vested Class B Units shall be increased by 50% of the Time Vesting Units that are then not Vested Class B Units.
Upon the termination of the Executive’s employment with the Company and its subsidiaries for any reason whatsoever, (a) all Unvested Class B Units held by the Executive as of the Termination Date shall expire and be immediately forfeited and canceled in their entirety as of the Termination Date and (b) all Vested Class B Units held by the Executive, subject to Sections 5.3 and 5.4 below, shall remain outstanding.