Vesting of Phantom Units Contract Clauses (25)

Grouped Into 2 Collections of Similar Clauses From Business Contracts

This page contains Vesting of Phantom Units clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Vesting of Phantom Units. The Phantom Units are restricted in that they (a) may be forfeited by the Service Provider and (b) may not, except as otherwise provided in the Plan, be transferred or otherwise disposed of by the Service Provider. Subject to the terms and conditions of this Agreement, the forfeiture restrictions on the Phantom Units shall lapse, and the Phantom Units shall vest in accordance with the schedule set forth on the signature page hereto, provided, however, that such restrictions will lapse, and the P...hantom Units shall vest in accordance with the foregoing provision only if the Service Provider has continuously provided services to the Partnership Entities from the date of grant until the date of vesting. View More Arrow
Found in PBF Logistics LP contract
Vesting of Phantom Units. The Phantom Units are restricted in that they (a) may be forfeited by the Service Provider and (b) in that they may not, except as otherwise provided in the Plan, be transferred or otherwise disposed of by the Service Provider. Subject to the terms and conditions of this Agreement, the forfeiture restrictions on the Phantom Units shall lapse, and the Phantom Units shall vest in accordance with the schedule set forth and be nonforfeitbable on the signature page hereto, (the "Vesting Date"); provi...ded, however, that such restrictions will lapse, and the Phantom Units shall vest in accordance with the foregoing provision only if the Service Provider has continuously provided services to the Partnership Entities from the date Date of grant Grant until the date of vesting. View More Arrow
Found in Crestwood Equity Partners LP contract
Vesting of Phantom Units. The Phantom Units are restricted in that they (a) may be forfeited by the Service Provider and (b) in that they may not, except as otherwise provided in the Plan, be transferred or otherwise disposed of by the Service Provider. Subject to the terms and conditions of this Agreement, the forfeiture restrictions on the Phantom Units shall lapse, and the Phantom Units shall vest in accordance with the schedule set forth and be nonforfeitable on the signature page hereto, (the "Vesting Date"); provid...ed, however, that such restrictions will lapse, and the Phantom Units shall vest in accordance with the foregoing provision only if the Service Provider has continuously provided services to the Partnership Entities from the date Date of grant Grant until the date of vesting. View More Arrow
Found in Crestwood Midstream Partners LP contract
Vesting of Phantom Units. The Phantom Units are restricted in that they (a) may be forfeited by the Service Provider and (b) may not, except as otherwise provided in the Plan, be transferred or otherwise disposed of by the Service Provider. Subject to the terms and conditions of this Agreement, the forfeiture restrictions on the Phantom Units shall lapse, and the Phantom Units shall vest in accordance with the schedule set forth on the signature page hereto, provided, however, that such restrictions will lapse, and the P...hantom Units shall vest in accordance with the foregoing provision only if the Service Provider has continuously provided services to the Partnership Entities from the date of grant until the date of vesting. -2- 6. Separation from Service. (a) Termination of Service. If the Service Provider's service or employment with the Partnership Entities terminates for any reason prior to vesting in accordance with Section 5, unless otherwise provided for in Section 6(b), the Phantom Units, to the extent not then vested, shall be immediately forfeited by the Service Provider without consideration. (b) Accelerated Vesting Under Certain Circumstances. Notwithstanding the foregoing, the Award shall vest as to 100% of the Phantom Units subject to the Award (but only to the extent the Award has not otherwise previously been forfeited), and the Phantom Units shall become nonforfeitable, on the earliest to occur of (i) a determination by the Committee to so accelerate such Award; (ii) a Change in Control; (iii) the Service Provider's death or Disability; and (iv) the termination of the Service Provider's service, (A) by the Partnership Entities without Cause, (B) by Retirement of the Service Provider or (C) by the Service Provider for Good Reason. View More Arrow
Found in PBF Logistics LP contract
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Vesting of Phantom Units. The Phantom Units are restricted in that they may be forfeited by the Service Provider and in that they may not, except as otherwise provided in the Plan, be transferred or otherwise disposed of by the Service Provider. Subject to the terms and conditions of this Agreement, the proportion of the Target Amount that is earned under this Agreement shall be calculated in accordance with Annex A. No amount of the Target Amount will be earned under this Agreement, and no amounts will be paid or delive...red hereunder, unless the Service Provider has continuously provided services to the Partnership Entities from the Date of Grant through the date of settlement of the Phantom Units. View More Arrow
Found in Sprague Resources LP contract
Vesting of Phantom Units. The Phantom Units are restricted in that they may be forfeited by the Service Provider and in that they may not, except as otherwise provided in the Plan, be transferred or otherwise disposed of by the Service Provider. Subject to the terms and conditions of this Agreement, the proportion of the Target Amount that is earned under this Agreement shall be calculated in accordance with Annex A. No Any provision of this Agreement to the contrary notwithstanding, no amount of the Target Amount will b...e earned under this Agreement, and no amounts will be paid or delivered hereunder, unless (a) the Service Provider has continuously provided services to the Partnership Entities from the Date of Grant through the date of settlement end of the Phantom Units. Performance Period, and (b) the Partnership has achieved Threshold EBITDA (as set forth in Annex A), provided that, notwithstanding anything herein to the contrary, each of the Committee and the Board may, in its or their sole discretion, waive the application of Threshold EBITDA, or any criterion thereof, to any individual Service Provider or group of Service Providers. View More Arrow
Found in Northern Tier Energy LP contract
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