Payment of Phantom Units. (a) Within 30 days after any vesting date, the Company or an Affiliate employing the Participant shall pay the Participant the Fair Market Value of a Unit multiplied by the number of Phantom Units vesting on the vesting date. Such payment shall constitute taxable compensation to the Participant. The Fair Market Value of the Units shall be determined as of the relevant vesting date.
Appears in 4 contracts
Samples: Phantom Unit Grant Agreement (Atlas Pipeline Holdings, L.P.), August (Atlas Pipeline Partners Lp), Phantom Unit Grant Agreement (Atlas Pipeline Partners Lp)
Payment of Phantom Units. (a) Within 30 thirty (30) days after any the applicable vesting date, the Company or an Affiliate employing APL shall distribute to the Participant shall pay the Participant the Fair Market Value of a Unit multiplied by Units equal to the number of Phantom Units vesting on the vesting date. Such payment shall constitute taxable compensation to the Participant. The Fair Market Value of the Units shall be determined as of the relevant vesting date.
Appears in 1 contract
Samples: Phantom Unit Grant Agreement (Atlas Pipeline Partners Lp)
