Description of Interests. As used in this Agreement, “Interests” means either a Phantom Unit or a Restricted Unit, as such terms are defined in the Plan. Interests under this Agreement will initially be in the form of Phantom Units. With respect to Interests in the form of Phantom Units that have not vested pursuant to the schedule in Section 2(a), the Committee, in its sole discretion and to the extent it deems appropriate, may convert such Phantom Units to Restricted Units in accordance with Section 6, and such Interests so converted shall continue to be subject to the vesting schedule in Section 2(a).
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Samples: Term Incentive Plan, 2016 Long Term Incentive Plan (TransMontaigne Partners L.P.), Term Incentive Plan (TransMontaigne Partners L.P.)
