Exhibit 10.17
RESTRICTED LLC UNIT AGREEMENT (2021 GEARING RLUS)
PURSUANT TO THE
RYAN SPECIALTY GROUP HOLDINGS, INC. 2021 OMNIBUS INCENTIVE PLAN
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Participant: [●]
Grant Date: [●]
Number of Restricted LLC Units Granted: [●]
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THIS RESTRICTED LLC UNIT AWARD AGREEMENT (this “Agreement”), dated as of the Grant Date specified above, is entered into by and between New RSG Holdings, LLC, a Delaware limited liability company (the “Company”), and the Participant specified above, pursuant to the Ryan Specialty Group Holdings, Inc. 2021 Omnibus Incentive Plan, as in effect and as amended from time to time (the “Plan”), which is administered by the Compensation Committee of Ryan Specialty Group Holdings, Inc. (“Holdings”);
WHEREAS, the Plan permits grants of RSG LLC Common Unit Awards; and
WHEREAS, it has been determined under the Plan that it would be in the best interests of the Company to grant the Restricted LLC Units (“RLUs”), provided herein to the Participant.
NOW, THEREFORE, in consideration of the mutual covenants and promises hereinafter set forth and for other good and valuable consideration, the parties hereto hereby mutually covenant and agree as follows:
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Vesting Date | Portion of RLUs that Vests |
[●] | [●] |
There will be no proportionate or partial vesting in the periods prior to each vesting date and all vesting will occur only on the appropriate vesting date, subject to the Participant’s continued service with the Company or any of its Subsidiaries on each applicable vesting date.
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IN WITNESS WHEREOF, the parties hereto have executed (or electronically accepted, as applicable) this Agreement as of the date first written above.
NEW RSG HOLDINGS, LLC
By:
Name: Patrick G. Ryan
Title: Chairman & CEO
THE PARTICIPANT
Electronically accepted:
[Signature Page to Restricted LLC Unit Agreement]
Appendix A
Restrictive Covenants and Confidentiality
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