Common use of Phantom Share Award Clause in Contracts

Phantom Share Award. Upon the Key Executive's execution of the ------------------- Agreement, Xxxx Atlantic shall establish a notional account on behalf of the Key Executive and credit to that account 70,000 shares of Xxxx Atlantic stock ("Phantom Shares"). This account shall further be credited, on each subsequent dividend payment date for Xxxx Atlantic stock, with an amount equivalent to the dividend payable on the number of shares of Xxxx Atlantic stock equal to the number of Phantom Shares in the Key Executive's account on the record date for such dividend. Such amount shall immediately be converted to a number of additional Phantom Shares calculated by dividing such amount by the value of Xxxx Atlantic stock, as determined pursuant to Section 6(c)(i) of this Agreement.

Phantom Share Award. Upon the Key Executive's execution of the this ------------------- Agreement, Xxxx Atlantic shall establish a notional account on behalf of the Key Executive and credit to that account 70,000 10,000 shares of Xxxx Atlantic stock ("Phantom Shares"). This account shall further be credited, on each subsequent dividend payment date for Xxxx Atlantic stock, with an amount equivalent to the dividend payable on the number of shares of Xxxx Atlantic stock equal to the number of Phantom Shares in the Key Executive's account on the record date for such dividend. Such amount shall immediately be converted to a number of additional Phantom Shares calculated by dividing such amount by the value of Xxxx Atlantic stock, as determined pursuant to Section 6(c)(i) of this Agreement.

Phantom Share Award. Upon the Key Executive's execution of the this ------------------- Agreement, Xxxx Atlantic shall establish a notional account on behalf of the Key Executive and credit to that account 70,000 30,000 shares of Xxxx Atlantic stock ("Phantom Shares"). This account shall further be credited, on each subsequent dividend payment date for Xxxx Atlantic stock, with an amount equivalent to the dividend payable on the number of shares of Xxxx Atlantic stock equal to the number of Phantom Shares in the Key Executive's account on the record date for such dividend. Such amount shall immediately be converted to a number of additional Phantom Shares calculated by dividing such amount by the value of Xxxx Atlantic stock, as determined pursuant to Section 6(c)(i) of this Agreement.

Phantom Share Award. Upon the Key Executive's execution of the ------------------- Agreement, Xxxx Atlantic shall establish a notional account on behalf of the Key Executive and credit to that account 70,000 10,000 shares of Xxxx Atlantic stock ("Phantom Shares"). This account shall further be credited, on each subsequent dividend payment date for Xxxx Atlantic stock, with an amount equivalent to the dividend payable on the number of shares of Xxxx Atlantic stock equal to the number of Phantom Shares in the Key Executive's account on the record date for such dividend. Such amount shall immediately be converted to a number of additional Phantom Shares calculated by dividing such amount by the value of Xxxx Atlantic stock, as determined pursuant to Section 6(c)(i5(c)(i) of this Agreement.

Phantom Share Award. Upon the Key Executive's execution of the ------------------- Agreement, Xxxx Atlantic shall establish a notional account on behalf of the Key Executive and credit to that account 70,000 30,000 shares of Xxxx Atlantic stock ("Phantom Shares"). This account shall further be credited, on each subsequent dividend payment date for Xxxx Atlantic stock, with an amount equivalent to the dividend payable on the number of shares of Xxxx Atlantic stock equal to the number of Phantom Shares in the Key Executive's account on the record date for such dividend. Such amount shall immediately be converted to a number of additional Phantom Shares calculated by dividing such amount by the value of Xxxx Atlantic stock, as determined pursuant to Section 6(c)(i) of this Agreement.