Common use of Performance Goals and Vesting Clause in Contracts

Performance Goals and Vesting. The PPUs granted hereunder shall become Vested only if (i) the Performance goals set forth in the Performance Schedule attached hereto are achieved at the end of the Performance Period and (ii) you have not ceased to be an Employee (“Termination of Service”) prior to the end of the Performance Period, except as provided in Paragraph 3 below. To the extent the Performance goals are not achieved, the PPUs shall be forfeited automatically at the end of the Performance Period without payment.

Appears in 2 contracts

Sources: Performance Phantom Unit Grant Agreement (DCP Midstream Partners, LP), Performance Phantom Unit Grant Agreement (DCP Midstream Partners, LP)

Performance Goals and Vesting. The PPUs and DERs granted hereunder shall become Vested vested only if (i) the Performance goals Goals set forth in Attachment A (the Performance Schedule Goals”) attached hereto are achieved at the end of the Performance Period and (ii) you have not ceased to be an Employee (“incurred a Termination of Service”Service (defined in Paragraph 3(a) below) prior to the end of the Performance Period, except as provided in Paragraph 3 below. To the extent the Performance goals Goals are not achieved, the PPUs shall be forfeited automatically at the end of the Performance Period without payment.

Appears in 1 contract

Sources: Performance Phantom Units Grant Agreement (DCP Midstream Partners, LP)