Phantom Stock Award Sample Clauses

Phantom Stock Award. Upon adoption of a phantom stock plan by ------------------- the Board of Directors of the Company, Employee will be granted phantom shares representing the right to share in 1.75 percent of the increase in the value of the Company (determined as provided in the plan) during the initial five-year period covered by the plan, subject to the terms and conditions of the plan.
Sample 1
Phantom Stock Award. At the Effective Time, each Phantom Stock Award, whether vested or unvested, shall be cancelled and converted automatically into the right to receive an amount in cash (rounded down to the nearest cent) equal to the Per Share Stock Consideration in respect of each share of Company Common Stock underlying such Phantom Stock Award, less any applicable tax withholdings. Purchaser shall issue the consideration described in this Section 1.7(c) (together with any accrued but unpaid dividend equivalents corresponding to the Phantom Stock Award) within ten (10) Business Days following the Closing Date.
Sample 1
Phantom Stock Award. Executive shall be granted, promptly following the Effective Date, a target award of up to 5,000 shares of phantom stock (a threshold opportunity of 2,500 phantom shares and a stretch maximum amount of up to 10,000 phantom shares) (the “Award”), payable in cash on or about March 15, 2010, subject to the achievement of performance targets established by the Board relating to the compounded annual growth rate of the Company’s adjusted EBITDA between December 31, 2007 and December 31, 2009, and subject to the terms and conditions set forth in the award letter and the Visant Holding Corp. Long Term Incentive Plan (the “LTIP”) to be provided to you.
Sample 1
Phantom Stock Award. On the Executive's employment commencement date, the Executive will become a participant in a special phantom stock plan, as set forth in Appendix A hereto, which will include an award to the Executive of 175,000 phantom shares of Company Common Stock, and in which the Executive shall become vested in accordance with the following vesting schedule:
Sample 1
Phantom Stock Award. The Return On Equity ("XXX") determined as of December 31 of each Plan Year shall determine the Executive's Phantom Stock Award Percentage, in accordance with the following chart: If the Company's XXX is greater or equal to Phantom Stock the Peer Group XXX by: and less than Award Percentage ---------------------- ------------- ---------------- 0% 10% 0% 10% 20% 7.50% 20% 30% 10.00% 30% 40% 12.50% 40% 50% 15.00% 50% 60% 17.50% 60% 70% 20.00% 70% 80% 25.00% 80% 90% 30.00% 90% 100% 35.00% 100% -- 40.00% * Average Peer Group XXX as reported by SNL Securities. The above chart is specifically subject to change at the sole discretion of the Company's Board of Directors.
Sample 1
Phantom Stock Award. The Phantom Stock Award consists of [ ] shares of Phantom Stock. Each Phantom Stock represents a right to a future payment of one share of Stock (defined within the Plan as the Company’s common stock, par value $0.01 per share), or the cash equivalent amount of the Fair Market Value of a share of Stock on the Vesting Date, or a combination thereof, at the Company’s discretion. No Stock shall be issued to the Participant at the time the grant is made, and the Participant shall not be, nor have any of the rights and privileges of, a stockholder with respect to any Phantom Stock awarded herein. The Participant shall have no voting rights with respect to the Phantom Stock. To the extent dividends are paid on Stock after the Grant Date and prior to the settlement, forfeiture or cancellation of the Phantom Stock (such period, the “Dividend Accrual Period”), the Participant shall be entitled to receive a payment, at the time the tandem share of Phantom Stock for which the distributions accrued is settled, in an amount equal to the value (without interest) of the dividends that would have been paid on the stock underlying such Phantom Stock awards had such Stock been outstanding during the Dividend Accrual Period (any such dividend equivalent rights, the “DERs”); provided, however, that in no event shall a DER be paid and settled later than 70 days following the date on which the tandem shares of Phantom Stock become vested pursuant to Section 5 hereof. Notwithstanding the foregoing, to the extent a share of Phantom Stock is forfeited or cancelled, any DERs with respect to such Phantom Stock shall also be forfeited in full. For purposes of clarity, the DERs associated with the Phantom Stock during the Dividend Accrual Period have no impact on the value of the DER Cash Award and shall be kept separate from the DER Cash Award.
Sample 1
Phantom Stock Award 
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Related to Phantom Stock Award

  • Restricted Stock Unit Award The Grantee is hereby granted NUMBER OF SHARES restricted stock units (the "Restricted Stock Units"). Each Restricted Stock Unit represents the right to receive one share of the Company's Common Stock, $.001 par value (the "Stock"), subject to the terms and conditions of this Agreement and the Plan.

  • Restricted Stock Award Subject to the terms and conditions of the Plan and this Agreement, the Company hereby grants to the Participant Shares (the “Restricted Shares”), which shall vest and become nonforfeitable in accordance with Section 3 hereof.

  • Stock Award Pursuant to the Plan, the Company, on ________ __, 20__ (the “Date of Grant”) granted to the Participant, subject to the terms and conditions of the Plan and subject further to the terms and conditions herein set forth, a Stock Award covering _________ shares of Common Stock, hereafter described as the “Shares.”

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Restricted Stock Units Subject to the terms and conditions provided in this Agreement and the Plan, the Company hereby grants to the Grantee restricted stock units (the “Restricted Stock Units”) as of the Grant Date. Each Restricted Stock Unit represents the right to receive a Share of Common Stock if the Restricted Stock Unit becomes vested and non-forfeitable in accordance with Section 2 or Section 3 of this Agreement. The Grantee shall have no rights as a stockholder of the Company, no dividend rights and no voting rights with respect to the Restricted Stock Units or the Shares underlying the Restricted Stock Units unless and until the Restricted Stock Units become vested and non-forfeitable and such Shares are delivered to the Grantee in accordance with Section 4 of this Agreement. The Grantee is required to pay no cash consideration for the grant of the Restricted Stock Units. The Grantee acknowledges and agrees that (i) the Restricted Stock Units and related rights are nontransferable as provided in Section 5 of this Agreement, (ii) the Restricted Stock Units are subject to forfeiture in the event the Grantee’s Continuous Status as an Employee or Consultant or Non-Employee Director terminates in certain circumstances, as specified in Section 6 of this Agreement, (iii) sales of Shares of Common Stock delivered in settlement of the Restricted Stock Units will be subject to the Company’s policies regulating trading by Employees and Consultants, including any applicable “blackout” or other designated periods in which sales of Shares are not permitted, (iv) Shares delivered in settlement will be subject to any recoupment or “clawback” policy of the Company, regardless of whether such recoupment or “clawback” policy is applied with prospective or retroactive effect, and (v) any entitlement to dividend equivalents will be in accordance with Section 7 of this Agreement. The extent to which the Grantee’s rights and interest in the Restricted Stock Units becomes vested and non-forfeitable shall be determined in accordance with the provisions of Sections 2 and 3 of this Agreement.

  • Award of Restricted Stock Units In consideration of services rendered and to be rendered to the Company, by the Participant, the Company has granted to the Participant, subject to the terms and conditions set forth in this Restricted Stock Unit Agreement (this “Agreement”) and in the Company’s 2020 Equity Incentive Plan (the “Plan”), an award with respect to the number of restricted stock units (the “RSUs”) set forth in the Notice of Grant that forms part of this Agreement (the “Notice of Grant”). Each RSU represents the right to receive one share of common stock, $0.001 par value per share, of the Company (the “Common Stock”) upon vesting of the RSU, subject to the terms and conditions set forth herein.

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Grant of Restricted Stock Unit Award The Company hereby grants to the Participant, as of the Grant Date specified above, the number of RSUs specified above. Except as otherwise provided by the Plan, the Participant agrees and understands that nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential future dilution of the Participant’s interest in the Company for any reason, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of the shares of Common Stock underlying the RSUs, except as otherwise specifically provided for in the Plan or this Agreement.

  • Restricted Stock Awards (i) The restricted shares of common stock of the Company awarded under this paragraph (c) (collectively, the “Restricted Shares”) shall be awarded pursuant to and, to the extent not expressly inconsistent herewith, governed by the Company stock option and incentive compensation plan as in effect as the effective date of the respective award (the “Stock Plan”). All grants described in this paragraph (c) shall be conditioned upon the approval of the shareholders of the Company at the annual shareholders’ meeting in 2008 of (A) an increase in the maximum number of shares that may be issued pursuant to awards under the Stock Plan, or (B) a new or amended plan authorizing grants of restricted shares of the Company. The number of Restricted Shares shall be adjusted in accordance with the terms of the Stock Plan for stock splits, stock dividends, recapitalizations and the like. Until and only to the extent the Restricted Shares shall vest as provided herein, all stock certificates evidencing the Restricted Shares owned by Employee shall be held by the Company for the benefit of Employee. As and to the extent any Restricted Shares shall vest as provided herein, the Company will promptly deliver certificates representing such vested shares to Employee. (ii) Provided Employee shall continue to be employed hereunder, effective on July 15, 2008, the Company shall award to Employee 5,000 restricted shares of common stock of the Company. The restricted shares awarded as provided in the preceding sentence shall be referred to as the “Fixed Restricted Shares.” The Fixed Restricted Shares shall be subject to vesting as provided below. Provided Employee shall continue to be employed hereunder, one-fourth (1/4) of the Fixed Restricted Shares shall vest on June 1, 2009, an additional one-fourth (1/4) of the Fixed Restricted Shares shall vest on June 1, 2010, an additional one-fourth (1/4) of the Fixed Restricted Shares shall vest on June 1, 2011, and the final one-fourth (1/4) of the Fixed Restricted Shares shall vest on June 1, 2012. (iii) Provided Employee shall continue to be employed hereunder, and further provided that the applicable Annual Performance Award Test (as defined below) has been satisfied, on the Performance Award Date (as defined below) each year during the Term, commencing in 2009, the Company shall award to Employee that number of shares of common stock of the Company as is equal to $100,000 divided by the Performance Award Price (as defined below), with any fractional share resulting therefrom being rounded up to one whole share if 0.5 or more and eliminated if less than 0.5. For each year, the “Performance Award Date” shall be that date the Company files its Annual Report on Form 10-K with the Securities and Exchange Commission for the immediately preceding calendar year. Satisfaction of the “Annual Performance Award Test” shall be determined as of each Performance Award Date and measured based upon the Company Net Income for the immediately preceding calendar year. The Annual Performance Award Test shall be satisfied for a calendar year if (A) the Annual Net Income Target for the calendar year being measured is at least ten percent (10%) higher than the actual Company Net Income for the immediately preceding calendar year, and (B) the actual Company Net Income for the calendar year being measured equals or exceeds ninety-five percent (95%) of the Annual Net Income Target for the calendar year being measured. The “Performance Award Price” shall be equal to the closing sale price of Company common stock as reported on the Nasdaq National Market on the respective Performance Award Date (or if the respective Performance Award Date is not a trading date for the Company common stock, on the immediately preceding trading date). Any Restricted Shares awarded pursuant to this subparagraph (iii) shall be immediately vested in full on the respective date such shares are awarded. (iv) Notwithstanding any provision in this paragraph (c) to the contrary, all of the Restricted Shares that have not been previously vested shall immediately vest if Employee shall continue to be employed hereunder and (A) Employee shall die, (B) Employee shall be subject to a “permanent disability” as described in Section 4(b) hereof, or (C) a Change of Control (as defined below) has occurred with respect to the Company. A “Change of Control” for purposes of this subparagraph (iv) shall have the same meaning as that term is given in the Stock Plan.

  • Stock Units As used herein, the term “Stock Unit” shall mean a non-voting unit of measurement which is deemed for bookkeeping purposes to be equivalent to one outstanding share of the Company’s Common Stock (“Share”) solely for purposes of the Plan and this Award Agreement. The Stock Units shall be used solely as a device for the determination of the payment to eventually be made to the Participant if such Stock Units vest pursuant to this Award Agreement. The Stock Units shall not be treated as property or as a trust fund of any kind.