Common use of Restricted Units and Phantom Units Clause in Contracts

Restricted Units and Phantom Units. The Committee shall have the authority to determine the Employees, Officers and Directors to whom Restricted Units and/or Phantom Units shall be granted, the number of Restricted Units or Phantom Units to be granted to each such Participant, the applicable Restricted Period, the conditions under which the Restricted Units or Phantom Units may become vested or forfeited and such other terms and conditions, including, without limitation, restrictions on transferability, as the Committee may establish with respect to such Awards.

Appears in 5 contracts

Samples: Retention Agreement (MPLX Lp), Award Agreement (Marathon Petroleum Corp), Retention Agreement (MPLX Lp)

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