Partnership means Core & Main Holdings, LP, a Delaware limited partnership, and any successor thereto; provided that for purposes of determining the status of a Participants employment with the Partnership, such term shall include the Partnership, its Subsidiaries and Affiliates.
Partnership Agreement means the Agreement of Limited Partnership of Core & Main Holdings, LP dated as of August 5, 2019 and as amended from time to time.
Person means any natural person, firm, partnership, limited liability company, association, corporation, company, trust, business trust, governmental authority or other entity.
Plan means this Core & Main Holdings, LP Equity Incentive Plan, as amended from time to time.
Profits Units means the Profits Units (as defined in the Partnership Agreement) subject to the terms of the Plan and, if applicable, any securities which may be issued after the Effective Date in respect of, or in exchange for, the Profits Units (which are sometimes referred to herein as successor equity interests).
Restriction Period means the period during which any Profits Units are subject to forfeiture pursuant to the terms of the Plan.
Securities Act means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.
Subscription Agreement means a subscription agreement between or among the Partnership, Management LLC (if applicable) and a Participant embodying the terms of any acquisition of Common Units and any corresponding equity interests in Management LLC and, if applicable, any grant of Profits Units and any corresponding equity interests in Management LLC made pursuant to the Plan and in the form approved by the General Partners from time to time for such purpose.
Subsidiary has the meaning given in the Partnership Agreement.
Unit Appreciation Right means the right to receive a payment from the Partnership in cash and/or Common Units equal to the product of (i) the excess, if any, of the Fair Market Value of one Common Unit on the exercise date over a specified price (the Base Price) fixed by the General Partners on the Grant Date (which specified price shall not be less than the Fair Market Value of one Unit on the Grant Date), multiplied by (ii) a number of Units stated in the Award Agreement.