Tranche 2 Maximum Percentage

Tranche 2 Maximum Percentage. Means, with respect to a Tranche 2 Vesting Event, a percentage determined as follows: (a) if the Cash Proceeds realized by the Investors equal or exceed $135 per Unit but are less than $180 per Unit, the Tranche 2 Maximum Percentage will equal 25%; (b) if the Cash Proceeds realized by the Investors equal or exceed $180 per Unit but are less than $225 per Unit, the Tranche 2 Maximum Percentage will equal 50%; (c) if the Cash Proceeds realized by the Investors equal or exceed $225 per Unit but... are less than $270 per Unit, the Tranche 2 Maximum Percentage will equal 75%; and (d) if the Cash Proceeds realized by the Investors equal or exceed $270 per Unit, the Tranche 2 Maximum Percentage will equal 100%. View More

Tranche 2 Maximum Percentage. (i) 33 1/3rd % on the first anniversary of an Initial Public Offering, (ii) 66 2/3rds % on the eighteen month anniversary of an Initial Public Offering, and (iii) 100% on a Sale Transaction or any Tranche 2 Measurement Date after the eighteen month anniversary of an Initial Public Offering.