Common use of Partial Accelerated Vesting in Certain Circumstances Clause in Contracts

Partial Accelerated Vesting in Certain Circumstances. Subject to Section 4(d)(i) below, a pro-rated portion (based on the number of full months worked within the Performance Period divided by 36) of the Target Number of Phantom Units (as indicated in the Grant Notice above) shall vest upon the occurrence of any of the following events: a termination of the Participant’s Service prior to the last day of the Performance Period by reason of the Participant’s death or Disability.

Appears in 3 contracts

Samples: Performance Phantom Unit Agreement (Andeavor Logistics Lp), Performance Phantom Unit Agreement (Tesoro Logistics Lp), Performance Phantom Unit Agreement (Tesoro Logistics Lp)

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Partial Accelerated Vesting in Certain Circumstances. Subject to Section 4(d)(iParagraph 4(c)(i) below, a pro-rated portion (based on the number of full months worked within the Performance Measurement Period divided by 36) of the Target Number of Phantom Units (as indicated in the Grant Notice above) shall vest upon the occurrence of any of the following events: a termination of the Participant’s Service prior to the last day of the Performance Period Regular Vesting Date by reason of the Participant’s death or Disability.

Appears in 2 contracts

Samples: Phantom Unit Award Agreement (MPLX Lp), Phantom Unit Award Agreement (MPLX Lp)

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