DERs. At the end of the Restricted Period, the Company will pay to the Participant, or the Participant’s legal representative, the value of the DERs on the gross number of Units awarded to the Participant pursuant to the terms of this Agreement. The value of the DERs shall be the amount of all distributions per Unit that would have been earned and paid during the Restricted Period on the gross number of Units awarded, and no interest shall be paid on such amount. Such payment of the DERs shall be in cash and subject to tax withholding requirements.
Appears in 6 contracts
Samples: Performance Based Phantom Unit Agreement (Magellan Midstream Partners, L.P.), Performance Based Phantom Unit Agreement (Magellan Midstream Partners, L.P.), Performance Based Phantom Unit Agreement (Magellan Midstream Partners, L.P.)
DERs. At the end of the Restricted Period, the Company will pay to the Participant, or the Participant’s legal representative, Participant the value of the DERs on the gross number of Units awarded to the Participant received pursuant to the terms of this Agreement. The value of the DERs shall be the amount of all distributions per Unit that would have been earned and paid during the Restricted Period on the gross number of Units awardedreceived, and no interest shall be paid on such amount. Such payment of the DERs shall be in cash and subject to minimum tax withholding requirements.
Appears in 1 contract
Samples: Phantom Unit Agreement (Magellan Midstream Partners Lp)
