Performance-Based Phantom Units definition

Performance-Based Phantom Units means those Phantom Units granted to the Executive pursuant to the PVR LTIP, the vesting of which is subject to achievement during the performance period of certain performance goals established by the Partnership at the time of the grant of the units.
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Examples of Performance-Based Phantom Units in a sentence

  • If, following an IPO with respect to the Company’s equity securities or a Change in Control, the Participant’s employment with the Company and its Affiliates is terminated due to the Participant’s death or Disability or by the Company without Cause, all Unvested Phantom Units, whether Time-Based Phantom Units or Performance-Based Phantom Units, to the extent not previously forfeited or cancelled, shall become Vested Phantom Units.

  • Following an IPO with respect to the Company’s equity securities or a Change in Control, the Performance Targets for any Missed Year shall no longer be achievable and the Performance-Based Phantom Units that did not become vested in a Missed Year and are Unvested Phantom Units immediately prior to the IPO or Change in Control shall be forfeited.

  • Long-Term Incentive PlanThe following table summarizes information regarding phantom unit awards (the “Affiliate Grants”) under the Enviva Partners, LP Long-Term Incentive Plan (“LTIP”) to employees of Enviva Management Company and its affiliates who provide services to us: Time-Based Phantom Units Performance-Based Phantom Units Total Affiliate Grant Phantom Units (1) Determined by dividing the aggregate grant date fair value of awards by the number of awards issued.

  • All Performance-Based Phantom Units that have not vested as of the end of the Fiscal Year commencing in 2018 shall terminate.

  • American Midstream GP, LLC (the “Company”), general partner of American Midstream Partners, LP (the “Partnership”) hereby grants to you, [_________________], a target award of [___] Performance-Based Phantom Units (the “Target Award”) under the American Midstream GP, LLC Long-Term Incentive Plan (the “Plan”) on the terms and conditions set forth herein and in the Plan, which is incorporated herein by reference as a part of this Agreement (“Agreement” or “Grant Agreement”).

  • Exhibit B, attached hereto and made a part hereof, sets forth the performance measures that will be applied to determine the amount, if any, of Performance-Based Phantom Units earned pursuant to this Agreement.

  • The parties acknowledge and agree that commensurate with the date of this Second Amended and Restated Employment Agreement, the Managing General Partner awarded Executive an initial grant of 22,000 units subject to the terms of the Long-Term Incentive Plan Grant of Time-Based Phantom Units with DERs and the Long-Term Incentive Plan Grant of Performance-Based Phantom Units with DERs (collectively the “2009 LTIPs”).

  • The vesting the Performance-Based Phantom Units shall not exceed 200% of the Performance-Based Phantom Units granted.

  • Performance-Based Phantom Units: Performance Period: The performance period for the Performance-Based Phantom Units begins on January 1, and ends on December 31, .

  • Subject to the terms and conditions set forth in this Agreement and the Plan, the Company hereby grants the Participant Time-Based Phantom Units and Performance-Based Phantom Units (together, the “Phantom Units”).

Related to Performance-Based Phantom Units

  • Performance-Based Awards means the Performance Share Awards and Restricted Stock Awards granted to selected Covered Employees pursuant to Articles 9 and 10, but which are subject to the terms and conditions set forth in Article 11. All Performance-Based Awards are intended to qualify as "performance-based compensation" under Section 162(m) of the Code.

  • Performance-Based Award means any Restricted Stock Award, Restricted Stock Units, Performance Share Award or Cash-Based Award granted to a Covered Employee that is intended to qualify as “performance-based compensation” under Section 162(m) of the Code and the regulations promulgated thereunder.

  • Performance-Based Cash Award means a cash Award under Article XI of this Plan that is payable or otherwise based on the attainment of certain pre-established performance goals during a Performance Period.

  • Performance-Based Restricted Stock means Shares issued or transferred to an Eligible Individual under Section 9.2.

  • Qualified Performance-Based Award means an Award intended to qualify for the Section 162(m) Exemption, as provided in Section 11.

  • Performance-Based Compensation means compensation qualifying as “performance-based compensation” under Section 162(m) of the Code.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • share-based award means an award under an equity incentive plan of equity-based instruments that do not have option-like features, including, for greater certainty, common shares, restricted shares, restricted share units, deferred share units, phantom shares, phantom share units, common share equivalent units, and stock.

  • Performance Units means an Award which may be earned in whole or in part upon attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Performance Shares means Shares or an Award denominated in Shares which may be earned in whole or in part upon attainment of performance criteria established by the Administrator.

  • Performance-based contracting means the structuring of all

  • Qualified Performance-Based Compensation means any compensation that is intended to qualify as “qualified performance-based compensation” as described in Section 162(m)(4)(C) of the Code.

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Performance Awards means Performance Units, Performance Shares or either or both of them.

  • Performance Unit Award means an award of Performance Units under this Plan.

  • Performance Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • Other Unit-Based Award means an award granted pursuant to Section 6(f) of the Plan.

  • Cash-Based Award means an Award entitling the recipient to receive a cash-denominated payment.

  • Performance Stock Award means a Stock Award granted under the terms and conditions of Section 6(c)(i).

  • Share Units means the hypothetical Shares that are credited to the Share Unit Accounts in accordance with Section 5.3.

  • Stock Units means investment units under the Deferred Delivery Plan, each of which is deemed to be equivalent to one share of Stock.

  • Performance Award means any right granted under Section 6(d) of the Plan.

  • Performance Stock means a Target Number of Shares granted pursuant to Section 10(a) of the Plan.

  • Performance Award Formula means, for any Performance Award, a formula or table established by the Committee pursuant to Section 10.3 which provides the basis for computing the value of a Performance Award at one or more levels of attainment of the applicable Performance Goal(s) measured as of the end of the applicable Performance Period.

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.