MPLX LP PHANTOM UNIT AWARD AGREEMENTPhantom Unit Award Agreement • May 3rd, 2022 • MPLX Lp • Pipe lines (no natural gas)
As evidenced by this Award Agreement and under the MPLX LP 2018 Incentive Compensation Plan, as amended (the “Plan”), MPLX GP LLC, a Delaware limited liability company (the “Company”), the general partner of MPLX LP, a Delaware limited partnership (the “Partnership”) has granted to {Participant Name} (the “Participant”), an Employee and/or Officer of the Company, Partnership or an Affiliate, on {Grant Date} (the “Grant Date”), {Number of Awards Granted} Phantom Units (the “Award”), with each Phantom Unit representing the right to receive a Unit of the Partnership, subject to the terms and conditions in the Plan and this Award Agreement. The number of Phantom Units awarded is subject to adjustment as provided in the Plan, and the Phantom Units hereby granted are also subject to the following terms and conditions:
MPLX LP 2018 INCENTIVE COMPENSATION PLAN PERFORMANCE UNIT AWARD AGREEMENT MPLX OFFICER (amended effective January 25, 2022)Performance Unit Award Agreement • May 3rd, 2022 • MPLX Lp • Pipe lines (no natural gas)
As evidenced by this Award Agreement and under the MPLX LP 2018 Incentive Compensation Plan (the “Plan”), MPLX GP LLC, a Delaware limited liability company (the “Company”), the general partner of MPLX LP, a Delaware limited partnership (the “Partnership”) has granted to MICHAEL J. HENNIGAN (the “Participant”), an officer of the Company, on 03/01/2020 (the “Grant Date”), 460,000 performance units (“Performance Units”), conditioned upon the Company’s total unitholder return (or “TUR”) ranking relative to the Peer Group and the DCF Payout Percentages for the Performance Cycle as established by the Board, and as set forth herein. The Performance Units are subject to the following terms and conditions (a) which were provided in the original Award effective March 1, 2020, and (b) the additional terms and conditions in the amendment to this Award as approved by the Committee effective January 25, 2022 (the additional terms and conditions are shown in double-underlined text and shall be deemed
