Vesting and Forfeiture of Phantom Units. The Phantom Units shall vest in full upon Participant’s separation from service (as defined in Section 409A of the Code), except if Participant’s Employment is terminated for Cause (as such term is defined in Participant’s Retention Agreement with Marathon Petroleum Company LP). If Participant’s Employment is terminated for Cause (as such term is defined in Participant’s Retention Agreement with Marathon Petroleum Company LP), the Phantom Units that have not vested as of the date of such termination for Cause shall be immediately and 100% forfeited to the Company.
Appears in 5 contracts
Samples: Retention Agreement (MPLX Lp), Retention Agreement (Marathon Petroleum Corp), Retention Agreement (MPLX Lp)
