Qualified Termination. In the event of the Participant’s termination of Employment on account of a Qualified Termination prior to the Performance Period End Date, the Performance Share Units shall vest in full as of the date of the Qualified Termination, the Payout Percentage shall be 100%, and such vested Performance Share Units shall be determined and paid as otherwise provided in Paragraph 4. The death of the Participant following the Participant’s termination of Employment on account of a Qualified Termination shall have no effect on this Paragraph 8.
Appears in 4 contracts
Sources: Performance Share Unit Award Agreement (Marathon Petroleum Corp), Performance Share Unit Award Agreement (Marathon Petroleum Corp), Performance Share Unit Award Agreement (Marathon Petroleum Corp)
Qualified Termination. In the event of the Participant’s termination of Employment on account of a Qualified Termination prior to the Performance Period Cycle End Date, the Performance Share Units shall vest in full as of the date of the Qualified Termination, the Payout Percentage shall be 100%, and such vested Performance Share Units shall be determined and paid as otherwise provided in Paragraph Paragraphs 3 and 4. The death of the Participant following the Participant’s termination of Employment on account of a Qualified Termination shall have no effect on this Paragraph 8.
Appears in 1 contract
Sources: Performance Share Unit Award Agreement (Marathon Petroleum Corp)