Common use of Termination of Employment Due to Retirement, Death or Disability Clause in Contracts

Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units will be prorated based upon the Participant's months of employment between January 1, 2013 and December 31, 2015. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the Restricted Period ends as provided in Section 4.a above. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Phantom Unit Agreement (Magellan Midstream Partners Lp)

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Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's ’s employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units will be prorated based upon the Participant's ’s months of employment between January 1, 2013 2014 and December 31, 20152016. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the Restricted Period ends as provided in Section 4.a aboveends. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Phantom Unit Agreement (Magellan Midstream Partners Lp)

Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's ’s employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units will be prorated based upon the Participant's ’s months of employment between January 1, 2013 2020 and December 31, 20152022. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the Restricted Period ends as provided in Section 4.a above. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Performance Based Phantom Unit Agreement (Magellan Midstream Partners, L.P.)

Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's ’s employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units will be prorated based upon the Participant's ’s months of employment between January 1, 2013 2019 and December 31, 20152021. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the Restricted Period ends as provided in Section 4.a above. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Performance Based Phantom Unit Agreement (Magellan Midstream Partners Lp)

Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's ’s employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units will be prorated based upon the Participant's ’s months of employment between January 1, 2013 2017 and December 31, 20152019. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the Restricted Period ends as provided in Section 4.a above. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Performance Based Phantom Unit Agreement (Magellan Midstream Partners Lp)

Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units will be prorated based upon the Participant's months of employment between January 1, 2013 2012 and December 31, 20152014. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the Restricted Period ends as provided in Section 4.a above. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Phantom Unit Agreement (Magellan Midstream Partners Lp)

Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's ’s employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units will be prorated based upon the Participant's ’s months of employment between January 1, 2013 2015 and December 31, 20152017. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the Restricted Period ends as provided in Section 4.a above. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Phantom Unit Agreement (Magellan Midstream Partners Lp)

Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's ’s employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units will be prorated based upon the Participant's ’s months of employment between January 1, 2013 2023 and December 31, 20152025. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the Restricted Period ends as provided in Section 4.a above. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Performance Based Phantom Unit Agreement (Magellan Midstream Partners, L.P.)

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Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units will be prorated based upon the Participant's months of employment between January 1, 2013 2011 and December 31, 20152013. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the Restricted Period ends as provided in Section 4.a above. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Phantom Unit Agreement (Magellan Midstream Partners Lp)

Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's ’s employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units will be prorated based upon the Participant's ’s months of employment between January 1, 2013 2016 and December 31, 20152018. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the Restricted Period ends as provided in Section 4.a above. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Phantom Unit Agreement (Magellan Midstream Partners Lp)

Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's ’s employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units, which includes both the Retention Units (as defined below) and the Performance Units (as defined below) will be prorated based upon the Participant's ’s months of employment between January 1, 2013 2010 and December 31, 20152012. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the end of the Restricted Period ends as provided in Section 4.a abovePeriod. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Phantom Unit Agreement (Magellan Midstream Partners Lp)

Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's ’s employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units will be prorated based upon the Participant's ’s months of employment between January 1, 2013 2021 and December 31, 20152023. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the Restricted Period ends as provided in Section 4.a above. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Performance Based Phantom Unit Agreement (Magellan Midstream Partners, L.P.)

Termination of Employment Due to Retirement, Death or Disability. In the event a Participant's ’s employment with the Company or its Affiliates terminates prior to the end of the Restricted Period due to Retirement, death or Disability, the initial target grant of Phantom Units will be prorated based upon the Participant's ’s months of employment between January 1, 2013 2018 and December 31, 20152020. Such prorated amount will continue to be restricted and subject to the terms of this Agreement until the Restricted Period ends as provided in Section 4.a above. All Phantom Units in excess of the prorated amount shall be forfeited.

Appears in 1 contract

Samples: Performance Based Phantom Unit Agreement (Magellan Midstream Partners Lp)

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