Examples of Phantom Plan in a sentence
Except in certain circumstances described in the Phantom Plan, the accrued Unit Benefits Value of a tranche is paid to the recipient at the end of the third year of the respective tranche.
The purpose of the Phantom Plan is to provide an incentive to retain applicable senior officers of Elbit Systems and certain of our subsidiaries by strengthening the alignment of the Phantom Plan recipients’ financial interests with those of the Company and our shareholders.
The benefits received under the Phantom Plan are subject to tax at the regular personal income tax rates.
In 2012, our Board approved a “Phantom” Bonus Retention Plan for Senior Officers (the Phantom Plan).
Because of certain conditions in the Phantom Plan, the Unit Benefits Value for a particular year of a tranche may be zero or only part of the calculated Unit Benefits Value for that year.