Phantom Stock. Subject to the conditions and restrictions set forth below and in the Plan, the Company hereby grants to the Participant as of the Date of Grant, an Award of shares of Phantom Stock (the “Phantom Shares”). The Phantom Shares awarded hereunder shall be comprised of:
Phantom Stock. The Company shall not create any right to acquire an equity interest, or any interest measured by income, profits or any results of operations or by the value of any stock, or any similar or related right of interest.
Phantom Stock. Xxxxxx Xxxxxxx Corp. (“LBC”) adopted the Xxxxxx Xxxxxxx Corporation and Subsidiaries Phantom Stock Plan as of January 1, 2011, including any amendments thereto (the “Plan”). During the Term of Employment, Xxxxxxxxx shall be entitled to participate in the Plan in the same manner as any comparable employee in good standing of Bank. LBC reserves the right to amend or cancel the Plan at any time in its sole discretion, subject to the terms of such Plan and applicable law.
Phantom Stock. Transferor shall take all actions necessary to cause the Phantom Stock Plan to be amended as of the Closing (a) to remove the performance targets required for the vesting of the shares of phantom stock, (b) to provide that the distribution amount for each share of phantom stock shall be based on the per share consideration received by stockholders of Transferor under this Agreement and (c) so that all participants thereunder shall continue to vest in their shares of phantom stock in accordance with the service-based vesting schedule set forth in the Phantom Stock Plan if they continue to provide services to the entity to which they provide services as of the Closing. To the extent any Identified Phantom Stock Holders remain as participants in the Phantom Stock Plan as of the Closing, the Transfer Price shall be decreased by an amount equal to the aggregate amount of all payments to which such remaining Identified Phantom Stock Holders are entitled under the Phantom Stock Plan (the “Phantom Stock Amount”).
Phantom Stock. As of August 1, 1995, you are "deemed" to have been issued one hundred forty-two (142) shares of common stock of Bank. The Bank will maintain a record of such "deemed" shares, but no actual acquisition of such shares shall be made nor shall any shares be issued to you or on your account. You shall pay nothing for the deemed shares nor shall the Bank pay you or your beneficiaries anything therefore. Such deemed shares are solely for the purpose of calculating accruals to your account pursuant to this Agreement.
Phantom Stock. Upon execution of this Agreement and the CIC Agreement (as defined in Section 6.7, Xxxxxx shall receive an award of 3,704 shares of phantom stock of the Bank (“Phantom Stock”) valued at $5.40 per share. The Phantom Stock granted pursuant to this paragraph shall be subject to the terms and conditions of a Phantom Stock Plan and related award agreement. The Phantom Stock shall be evidenced by a Phantom Stock Award Agreement, which shall have such terms as may be set forth in the award agreement or the plan pursuant to which the Phantom Stock is awarded. The Phantom Stock awarded under this Section 4.3 will vest pro rata over a three year period on each anniversary of the date of the award, with such vesting terms more specifically set forth in a separate Phantom Stock award agreement.
Phantom Stock. Prior to Closing, the Shareholders shall cause the Company to cancel all of the phantom stock awards held by Xxxxx X. Xxxxxxx, Xxx Xxxxx and Xxxx Xxxx solely in consideration for the Shareholders’ obligation to pay such individuals cash or other property at such time or times and in such amounts as may be agreed before the Closing Date, and which payments shall not constitute “parachute payments” within the meaning of Section 280G of the Code, in each case, as reasonably acceptable to Buyer.
Phantom Stock. The units issued under the Amended U S WEST 1994 Stock Plan which are valued in accordance with Communications Stock ("Phantom Communications Stock") and the units issued under the Amended U S WEST 1994 Stock Plan which are valued in accordance with Media Stock ("Phantom Media Stock") shall be treated as follows:
Phantom Stock. The grant of Phantom Stock shall be evidenced by a Grant Agreement, executed by the Company and the grantee, that incorporates the terms of the Plan and states the number of shares of Phantom Stock evidenced thereby and the terms and conditions of such Phantom Stock in such form as the Committee may from time to time determine. Phantom Stock granted to a Participant shall be credited to a bookkeeping reserve account solely for accounting purposes and shall not require a segregation of any of the Company's assets. Each share of Phantom Stock shall represent the value of one share of Stock. Phantom Stock shall become payable in whole or in part in such form, at such time or times and pursuant to such conditions in accordance with the provisions of the Grant Agreement, and/or such rules and regulations as the Committee may prescribe, and/or such determinations, orders or decisions as the Committee may make. Except as otherwise provided in the applicable Grant Agreement, the grantee shall have none of the rights of a stockholder with respect to any shares represented by Phantom Stock as a result of the grant of Phantom Stock to the grantee. Phantom Stock may contain such other provisions, not inconsistent with the provisions of the Plan, as the Committee shall determine desirable or appropriate from time to time.
Phantom Stock. 16 (n) Asset Sales..........................................................16 (o) Subsidiaries.........................................................16 5.2
