Phantom Plan definition
Examples of Phantom Plan in a sentence
Such amount shall be paid to the Participants in accordance with the percentage for each Participant set forth in the Phantom Plan Schedule.
The parties acknowledge and agree that options under the ESOS and Phantom Plan are already exercisable and that the Rexam remuneration committee will exercise its discretion to provide that the options under the ESOS and Phantom Plan lapse on or before the Effective Date.
On August 31, 2012 (the “Release Date”), as provided in the Escrow Agreement certain amounts held in escrow will be released to the Sellers and Phantom Plan Participants, and thereafter any remaining amounts will be distributed to Buyer Indemnified Persons, the Sellers or Phantom Plan Participants as provided in the Escrow Agreement.
For Earnout Period 1, the Buyer shall pay to the Sellers and the Phantom Plan Participants in cash an Earnout Payment equal to $2,500,000 if Receiver Revenue is equal to or greater than $2,400,000 (the “Earnout Period 1 Revenue Payment”).
PIA Delaware shall have received evidence reasonably satisfactory to it that the SPAR Phantom Stock Plan (the "Phantom Plan") has been terminated and that all obligations of any SPAR Party thereunder have been satisfied in full by the SPAR Parties, without any further recourse to or liability any SPAR Party or the Surviving Corporation thereunder.