Phantom Equity definition

Phantom Equity means the phantom equity issued by the Company pursuant to the Phantom Equity Agreements.

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Phantom Equity means a hypothetical share of the Stock or hypothetical percentage interest of the Participant’s Employer for purposes of the Plan. Shares or percentage interest of Phantom Equity do not constitute issued and outstanding shares of Stock or percentage interest for any corporate purposes and do not confer on the Participant any voting rights or the right to receive dividends.

Phantom Equity means the value of AEP Energy Services, Inc. as of any Valuation Date determined by multiplying the Average Adjusted Net Income by the Equity Multiple and subtracting from the resulting product the Capital, as illustrated in Exhibit B.

Examples of Phantom Equity in a sentence

• The Company shall, within fifteen days of learning of any such default, so notify Executive that it is not obligated to pay the Phantom Equity Payment otherwise due hereunder.

• If the Company does not elect to waive the Event Criteria, the Company shall have no obligation to make any Phantom Equity Payment until the Event Criteria shall be met.

• This Agreement and Executive's right to receive any Phantom Equity Payment shall terminate on December 31, 2009.

• The Closing Stock Consideration to be issued to the Phantom Equity Holders shall be issued upon distribution when vested in accordance with Section 1.1(a)(iii).

• It is expressly understood that the Award is being made in connection with the Company’s Initial Public Offering, as defined in, and in satisfaction of Sections 3(c) and 4(b) of, the Phantom Unit Agreement (the “Phantom Unit Agreement”) by and between the Participant and Vantiv Holding, LLC, a Delaware limited liability company, pursuant to the Vantiv Holding, LLC Management Phantom Equity Plan.

• Phantom Equity Plan (the “Plan”), subject to the terms and conditions of the Plan and this Agreement.

• Pursuant to the terms and subject to the conditions set forth in this Agreement, the Company hereby evidences and confirms the grant to Executive, effective on the Grant Date, of the right to receive the Phantom Equity Payment.

• Promptly after the Commencement Date, Employee shall be granted a phantom equity award that is tied to the value of common stock of MHGC by making an award to Employee of 50,000 phantom restricted stock units (the “Initial Phantom Equity Grant”) under MHGC’s Amended and Restated 2007 Omnibus Stock Incentive Plan (the “2007 SIP”).

• Participants in the Phantom Equity Plan will participate (based on a granted award percentage) in the common equity value creation of the Company above a dollar threshold determined by the Board or its designee and set forth in the Phantom Equity Plan.

• The terms of the Initial Award Agreement will govern the Initial Phantom Equity Grant; provided, however, that, to the extent there is any conflict between the terms of this Agreement and the terms of the Initial Award Agreement with respect to the definitions of Cause (as defined below) or Good Reason (as defined below), or otherwise, the terms of this Agreement shall control.

More Definitions of Phantom Equity

Phantom Equity means the gross amount due to Rune G. ▇▇▇▇▇▇▇ pursuant to his Contract of Employment with Maschinen GmbH, dated as of May 1, 1992, as amended December 31, 1999. As of December 31, 2005, Phantom Equity was One Million One Hundred Forty-Seven Thousand Euros (€1,147,000) or One Million Three Hundred Fifty-Eight Thousand Dollars ($1,358,000).

Phantom Equity means the gross amount due to Rune ▇. ▇▇▇▇▇▇▇ pursuant to his Contract of Employment with Maschinen GmbH, dated as of May 1, 1992, as amended December 31, 1999. As of December 31, 2005, Phantom Equity was One Million One Hundred Forty-Seven Thousand Euros ((euro)1,147,000) or One Million Three Hundred Fifty-Eight Thousand Dollars ($1,358,000).