Common use of Qualified Retirement Clause in Contracts

Qualified Retirement. Participants who have at least ten years of service and leave the Company, or one of its affiliates, voluntarily due to retirement will be eligible for the accelerated vesting of this Award per the following schedule: • Participants ages 65-68 are eligible for the accelerated vesting of 40% of the Award. • Participants over the age of 68 are eligible for the accelerated vesting of 50% of the Award.

Appears in 3 contracts

Samples: Vested Restricted Unit Agreement (Sunoco Logistics Partners L.P.), Vested Restricted Unit Agreement (Sunoco Logistics Partners L.P.), Restricted Phantom Unit Agreement (Sunoco LP)

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Qualified Retirement. Participants who have at least ten five (5) years of service and leave the CompanyPartnership, or one of its affiliatesaffiliates or subsidiaries, voluntarily due to retirement will be eligible for the accelerated vesting of this Award per the following schedule: • Participants ages 65-68 are eligible for the accelerated vesting of 40% of the Awardremaining unvested Restricted Units under the Award at the time of the Participant’s retirement. • Participants over the age of 68 are eligible for the accelerated vesting of 50% of the Awardremaining unvested Restricted Units under the Award at the time of the Participant’s retirement.

Appears in 1 contract

Samples: Restricted Unit/Phantom Unit Agreement (Sunoco LP)

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