Common use of Vesting and Forfeiture of Phantom Units Clause in Contracts

Vesting and Forfeiture of Phantom Units. (a) The Phantom Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Phantom Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Phantom Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Phantom Units shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date in order for the applicable Phantom Units to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than one listed in subparagraph (b)(i) – (iv) of this Paragraph 2, any Phantom Units that have not vested as of the date of such termination of Employment shall be immediately and 100% forfeited to the Company. (b) The Phantom Units shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) above, upon the events set out below, provided such termination of Participant’s Employment constitutes a separation from service (within the meaning of Section 409A of the Code): (i) termination of the Participant’s Employment due to death; (ii) termination of the Participant’s Employment due to Mandatory Retirement; (iii) termination of Participant’s Employment upon the forced relocation of Participant’s principal place of Employment to a location more than 50 miles from Participant’s then-current principal place of Employment; or (iv) Participant’s Qualified Termination provided that as of such Qualified Termination the Participant has been in continuous Employment since the Grant Date.

Vesting and Forfeiture of Phantom Units. (a) The Phantom Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Phantom Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Phantom Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Phantom Units shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date in order for the applicable Phantom Units to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than one listed in subparagraph (b)(i) – (iv) of this Paragraph 2, any Phantom Units that have not vested as of the date of such termination of Employment shall be immediately and 100% forfeited to the Company. (b) The Phantom Units shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) above, upon the events set out below, provided such termination of Participant’s Employment constitutes a separation from service (within the meaning of Section 409A of the Code): (i) termination of the Participant’s Employment due to death; (ii) termination of the Participant’s Employment due to Mandatory Retirement; (iii) termination of Participant’s Employment upon the forced relocation of Participant’s principal place of Employment to a location more than 50 miles from Participant’s then-current principal place of Employment; or (iv) Participant’s Qualified Termination provided that as of such Qualified Termination the Participant has been in continuous Employment since the Grant Date.

Vesting and Forfeiture of Phantom Units. (a) The Phantom Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Phantom Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Phantom Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Phantom Units shall vest full on the third anniversary of the Grant Date; Date provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date in order for the applicable Phantom Units to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than one listed in subparagraph (b)(i) – (iviii) of this Paragraph 2, any Phantom Units that have not vested as of the date of such termination of Employment shall be immediately and 100% forfeited to the Company. (b) The Phantom Units shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) above, upon the events set out below, provided such termination of Participant’s Employment constitutes a separation from service (within the meaning of Section 409A of the Code): (i) termination of the Participant’s Employment due to death; (ii) termination of the Participant’s Employment due to Mandatory Retirement; (iii) termination of Participant’s Employment upon the forced relocation of Participant’s principal place of Employment to a location more than 50 miles from Participant’s then-current principal place of Employment; or (iviii) Participant’s Qualified Termination provided that as of such Qualified Termination the Participant has been in continuous Employment since the Grant Date.

Vesting and Forfeiture of Phantom Units. (a) The Subject to paragraph 3, the Phantom Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Phantom Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Phantom Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Phantom Units shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date in order for the applicable Phantom Units to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than one listed in subparagraph (b)(i) – (iviii) of this Paragraph 2, any Phantom Units that have not vested as of the date of such termination of Employment shall be immediately and 100% forfeited to the Company. (b) The Subject to paragraph 3, the Phantom Units shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) above, upon the events set out belowoccurrence of any of the following events, provided such termination of Participant’s Employment constitutes a separation from service (within the meaning of Section 409A of the Code): (i) termination of the Participant’s Employment due to death; (ii) the termination of the Participant’s Employment due to Mandatory Retirement;; or (iii) termination of Participant’s Employment upon the forced relocation of Participant’s principal place of Employment to a location more than 50 miles from Participant’s then-current principal place of Employment; or (iv) Participant’s Qualified Termination provided Termination, provided, that as of such Qualified Termination the Participant has been in continuous Employment since from the Grant DateDate to the Qualified Termination.

Vesting and Forfeiture of Phantom Units. (a) The Subject to Paragraph 3, the Phantom Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Phantom Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Phantom Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Phantom Units shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date in order for the applicable Phantom Units to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than one listed in subparagraph (b)(i) – (iv) of this Paragraph 2, any Phantom Units that have not vested as of the date of such termination of Employment shall be immediately and 100% forfeited to the Company. (b) The Subject to Paragraph 3, the Phantom Units shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) aboveof this Paragraph 2, upon the events set out below, provided such termination occurrence of Participant’s Employment constitutes a separation from service (within the meaning of Section 409A any of the Code):following events: (i) termination of the Participant’s Employment due to death; (ii) the Participant’s Approved Separation, provided the Participant has been in continuous Employment from the Grant Date to the Approved Separation; (iii) the termination of the Participant’s Employment due to Mandatory Retirement; (iii) termination of Participant’s Employment upon the forced relocation of Participant’s principal place of Employment to a location more than 50 miles from Participant’s then-current principal place of Employment; or (iv) Participant’s Qualified Termination , provided that as of such Qualified Termination the Participant has been in continuous Employment since from the Grant DateDate to the Mandatory Retirement; or (iv) the Participant’s Qualified Termination, provided, that the Participant has been in continuous Employment from the Grant Date to the Qualified Termination.

Vesting and Forfeiture of Phantom Units. (a) The Phantom Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Phantom Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Phantom Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Phantom Units shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date in order for the applicable Phantom Units to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than one listed in subparagraph (b)(i) – (iviii) of this Paragraph 2, any Phantom Units that have not vested as of the date of such termination of Employment shall be immediately and 100% forfeited to the Company. (b) The Phantom Units shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) above, upon the events set out below, provided such termination of Participant’s Employment constitutes a separation from service (within the meaning of Section 409A of the Code): (i) termination of the Participant’s Employment due to death; (ii) termination of the Participant’s Employment due to Mandatory Retirement;; or (iii) termination of Participant’s Employment upon the forced relocation of Participant’s principal place of Employment to a location more than 50 miles from Participant’s then-current principal place of Employment; or (iv) Participant’s Qualified Termination provided that as of such Qualified Termination the Participant has been in continuous Employment since the Grant Date.

Vesting and Forfeiture of Phantom Units. (a) The Subject to Paragraph 3, the Phantom Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Phantom Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Phantom Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Phantom Units shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date in order for the applicable Phantom Units to vest. If the Participant’s Employment of the Participant is terminated terminates for any reason (including non-Mandatory Retirement) other than one listed in subparagraph (b)(i) – (iv) of this Paragraph 2, any Phantom Units that have not vested as of the date of such termination of Employment shall be immediately and 100% forfeited to the Company. (b) The Subject to Paragraph 3, the Phantom Units shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) aboveof this Paragraph 2, upon the events set out below, provided such termination occurrence of Participant’s Employment constitutes a separation from service (within the meaning of Section 409A any of the Code):following events: (i) termination of the Participant’s Employment due to death; (ii) the Participant’s Approved Separation, provided, the Participant has been in continuous Employment from the Grant Date to the Approved Separation; (iii) the termination of the Participant’s Employment due to Mandatory Retirement; (iii) termination of Participant’s Employment upon the forced relocation of Participant’s principal place of Employment to a location more than 50 miles from Participant’s then-current principal place of Employment; or (iv) Participant’s Qualified Termination , provided that as of such Qualified Termination the Participant has been in continuous Employment since from the Grant DateDate to the Mandatory Retirement; or (iv) the Participant’s Qualified Termination, provided, that the Participant has been in continuous Employment from the Grant Date to the Qualified Termination.

Vesting and Forfeiture of Phantom Units. (a) The Phantom Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Phantom Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Phantom Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Phantom Units shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date in order for the applicable Phantom Units to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than one listed in subparagraph (b)(i) – (iv) of this Paragraph 2, any Phantom Units that have not vested as of the date of such termination of Employment shall be immediately and 100% forfeited to the Company. (b) The Phantom Units shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) above, upon the events set out below, provided such termination of Participant’s Employment constitutes a separation from service (within the meaning of Section 409A of the Code): (i) termination of the Participant’s Employment due to death; (ii) termination of the Participant’s Employment due to Mandatory Retirement; (iii) termination of Participant’s Employment upon the forced relocation of Participant’s principal place of Employment to a location more than 50 miles from Participant’s then-current principal place of Employment; or (iviii) Participant’s Qualified Termination provided that as of such Qualified Termination the Participant has been in continuous Employment since the Grant Date.

Vesting and Forfeiture of Phantom Units. (a) The Subject to paragraph 3, the Phantom Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Phantom Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Phantom Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Phantom Units shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date in order for the applicable Phantom Units to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than one listed in subparagraph (b)(i) – (iviii) of this Paragraph 2, any Phantom Units that have not vested as of the date of such termination of Employment shall be immediately and 100% forfeited to the Company. (b) The Subject to paragraph 3, the Phantom Units shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) above, upon the events set out belowoccurrence of any of the following events, provided such termination of Participant’s Employment constitutes a separation from service (within the meaning of Section 409A of the Code): (i) termination of the Participant’s Employment due to death; (ii) the termination of the Participant’s Employment due to Mandatory Retirement; (iii) termination of Participant’s Employment upon the forced relocation of Participant’s principal place of Employment to a location more than 50 miles from Participant’s then-current principal place of Employment; or (iv) Participant’s Qualified Termination provided Termination, provided, that as of such Qualified Termination the Participant has been in continuous Employment since from the Grant Date to the Qualified Termination; or (iv) on the Qualifying Date, provided, that the Participant has been in continuous Employment from the Grant Date to the Qualifying Date.

Vesting and Forfeiture of Phantom Units. (a) The Subject to paragraph 3, the Phantom Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Phantom Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Phantom Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Phantom Units shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date in order for the applicable Phantom Units to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than one listed in subparagraph (b)(i) – (iv) of this Paragraph 2, any Phantom Units that have not vested as of the date of such termination of Employment shall be immediately and 100% forfeited to the Company. (b) The Subject to paragraph 3, the Phantom Units shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) aboveof this Paragraph 2, upon the events set out below, provided such termination occurrence of Participant’s Employment constitutes a separation from service (within the meaning of Section 409A any of the Code):following events: (i) termination of the Participant’s Employment due to death; (ii) the Participant’s Approved Separation, provided the Participant has been in continuous Employment from the Grant Date to the Approved Separation; (iii) the termination of the Participant’s Employment due to Mandatory Retirement; (iii) termination of Participant’s Employment upon the forced relocation of Participant’s principal place of Employment to a location more than 50 miles from Participant’s then-current principal place of Employment; or (iv) Participant’s Qualified Termination , provided that as of such Qualified Termination the Participant has been in continuous Employment since from the Grant DateDate to the Mandatory Retirement; or (iv) the Participant’s Qualified Termination, provided, that the Participant has been in continuous Employment from the Grant Date to the Qualified Termination.

Vesting and Forfeiture of Phantom Units. (a) The Phantom Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Phantom Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Phantom Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Phantom Units shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date in order for the applicable Phantom Units to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than one listed in subparagraph subparagraphs (b)(i) – (iviii) of this Paragraph 2, any Phantom Units that have not vested as of the date of such termination of Employment shall be immediately and 100% forfeited to the Company. (b) The Phantom Units shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) above, upon the events set out below, provided such termination of Participant’s Employment constitutes a separation from service (within the meaning of Section 409A of the Code): (i) termination of the Participant’s Employment due to death; (ii) termination of the Participant’s Employment due to Mandatory Retirement;; or (iii) termination of Participant’s Employment upon the forced relocation of Participant’s principal place of Employment to a location more than 50 miles from Participant’s then-current principal place of Employment; or (iv) Participant’s Qualified Termination provided that as of such Qualified Termination the Participant has been in continuous Employment since the Grant Date.

Vesting and Forfeiture of Phantom Units. (a) The Subject to paragraph 3, the Phantom Units shall vest in three cumulative annual installments, as follows: (i) one-third of the Phantom Units shall vest on the first anniversary of the Grant Date; (ii) an additional one-third of the Phantom Units shall vest on the second anniversary of the Grant Date; and (iii) all remaining Phantom Units shall vest on the third anniversary of the Grant Date; provided, however, that the Participant must be in continuous Employment from the Grant Date through the applicable vesting date in order for the applicable Phantom Units to vest. If the Employment of the Participant is terminated for any reason (including non-Mandatory Retirement) other than one listed in subparagraph (b)(i) – (iv) of this Paragraph 2, any Phantom Units that have not vested as of the date of such termination of Employment shall be immediately and 100% forfeited to the Company. (b) The Subject to paragraph 3, the Phantom Units shall immediately vest in full, irrespective of the limitations set forth in subparagraph (a) aboveof this Paragraph 2, upon the events set out below, provided such termination occurrence of Participant’s Employment constitutes a separation from service (within the meaning of Section 409A any of the Code):following events,: (i) termination of the Participant’s Employment due to death; (ii) the Participant’s Approved Separation, provided the Participant has been in continuous Employment from the Grant Date to the Approved Separation; (iii) the termination of the Participant’s Employment due to Mandatory Retirement; (iii) termination of Participant’s Employment upon the forced relocation of Participant’s principal place of Employment to a location more than 50 miles from Participant’s then-current principal place of Employment; or (iv) Participant’s Qualified Termination , provided that as of such Qualified Termination the Participant has been in continuous Employment since from the Grant DateDate to the Mandatory Retirement; or (iv) the Participant’s Qualified Termination, provided, that the Participant has been in continuous Employment from the Grant Date to the Qualified Termination.