Vested Equivalent Amount

Vested Equivalent Amount. Shall mean, for each Profit Unit holder who holds vested Profit Units as of immediately prior to the Distribution, with respect to each outstanding Grant, an amount equal to the product of the following: (i) a fraction, the numerator of which is the number of vested Profit Units as of immediately prior to the Distribution, and the denominator of which is the total number of Profit Units granted pursuant to such Grant, and (ii) the total number of Distributed Shares received by the Distributee... in respect of his or her outstanding Profit Units pursuant to such Grant in accordance with Section 2.1 View More

Vested Equivalent Amount. Shall mean, for each Profit Unit holder who holds vested Profit Units as of immediately prior to the Distribution, with respect to each outstanding Grant, a number of Distributed Shares as determined by the Board which together with any tax distribution made in connection with the Distribution, represents the Profit Unit holder's interest in the vested Profit Units with respect to such Grant