Examples of Phantom Award in a sentence
A Phantom Award will not confer any right to receive Shares or any interest in Shares.
At the end of the Qualification Period for your Phantom Purchased Shares, you will receive a cash payment equal to the notional value of those Phantom Purchased Shares, and the Phantom Award Shares and Phantom Additional Shares relating to those Phantom Purchased Shares, provided that you still remain employed within the Fletcher Building Group.
If there is a change of control of Fletcher Building, such as an amalgamation or court sanctioned arrangement or if the Company passes a resolution for voluntarywinding up, the Company may determine that the Award Conditions are satisfied in respect of some or all Shares and Phantom Shares in the Plan and as a consequence you may be entitled to receive Award Shares or Phantom Award Shares, as applicable, relating to those shares.
You will receive a payment of the same amount you would have received if you had sold the same number of Shares under the Plan.• At the end of the Qualification Period for your Phantom Purchased Shares you will receive a cash payment equal to the notional value of those Phantom Purchased Shares, and the Phantom Award Shares and Phantom Additional Shares relating to those Phantom Purchased Shares, provided that you still remain employed within the Fletcher Building Group.
Phantom Award Incentive Plan Compensation expense for this cash settled plan of $0.6 million has been recorded as general and administration expense during the three month period ended March 31, 2010 (2009 - $0.2 million).