Common use of Phantom Unit Award Clause in Contracts

Phantom Unit Award. The Company hereby grants to the Executive (the “Award”), effective as of January 1, 2010 (the “Date of Grant”), in accordance with the terms and conditions set forth herein and in the Plan, the right to receive a cash payment equal to the excess, if any, of (a) the Fair Market Value of a Unit on the applicable determination date, over (b) the Fair Market Value of a Unit on the Date of Grant, with respect to 15,000 shares of Units (the “Phantom Units”). The Award is specifically made subject to execution by the Executive of this Agreement.