Company: BCG
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001410578-25-000143
Chunk: 240

Company: Binah Capital Group, Inc.
Filing Date: 2025-02-14
Form: S-1
Chunk 240
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 and due from are included in commissions on the accompanying consolidated statements of operations and other assets on the consolidated statements of financial condition, respectively.

F-66

| 16. | MEMBERS’ EQUITY Incentive units |

The Company authorized a class of units designated as Incentive Units. As of December 31, 2023 and 2022, no Incentive Units have been issued. Voting Rights -Incentive Units will generally have no voting rights, except as required by law. Profit interest -Incentive Units constitute an interest in the profits of the Company. All Incentive Units received by a service provider are received in exchange for the provision of services by the service provider for the benefit of the Company. Call Right -At any time prior to the consummation of a Qualified Public Offering or a Change of Control, following the termination of employment or other engagement of any service provider with the Company, the Company may, at its election, require the service provider to sell to the Company all or any portion of such service provider’s Incentive Units at the following respective purchase prices: For any Incentive Units that have not vested pursuant to the terms of the incentive plan or any award agreement (“Restricted Incentive Units”), under all circumstances of termination, a price equal to the lesser of their fair value or their initial cost (the “Cause Purchase Price”). For any Incentive Units that have vested pursuant to the terms of the incentive plan or any associated award agreement (“Unrestricted Incentive Units”), the Cause Purchase Price, in the event of:

| ● | Service provider is terminated with cause; or |

| ● | Service provider resigns without good reason. |

For the Unrestricted Incentive Units, a price equal to their fair value, in the event of:

| ● | Service provider is terminated without cause; |

| ● | Service provider resigns for good reason; |

| ● | Service provider resigns for any reason after 5 years; or |

| ● | Death or disability. |

Put Right- At any time prior to the consummation of a Qualified Public Offering or a Change of Control, if a service provider’s employment or other engagement with the Company is terminated as a result of such service provider’s death or disability, and the Company has not delivered a repurchase notice within ninety (90) days of such termination, then, subject to certain other provisions, such service provider may elect to sell to the Company all or any percentage of the Unrestricted