Common use of Award of Phantom Stock Interest Clause in Contracts

Award of Phantom Stock Interest. Provided that the Executive shall have been a full time employee of the Company for the twelve (12) consecutive calendar months preceding each such date (or, in the case of January 1 of the year following the date of this Agreement, the period of time between the date hereof and such January 1), the Company agrees that Executive shall be awarded one Phantom Stock interest on each of , , , and [month/day/year].

Award of Phantom Stock Interest. Provided that the Executive shall have been a full time employee of the Company for the twelve (12) consecutive calendar months preceding each such date (or, in the case of January 1 of the year following the date of this Agreementdate, the period of time between the date hereof and such January 1), the Company Parent agrees that Executive shall be awarded one (1) Phantom Stock interest Interest on each of , , , and [month/day/year]the first five (5) anniversaries of the date of this Agreement.