Examples of Phantom Stock in a sentence
Grantee and the Company also acknowledge that money damages would not be sufficient remedy for any breach of this Section 18 by Grantee, and the Company shall be entitled to enforce the provisions of this Section 18 by terminating any unvested Phantom Stock, taking action to recoup the value of any Phantom Stock already settled and paid to Grantee, and to specific performance and injunctive relief as remedies for such breach or any threatened breach.
However, if it is determined that Xxxxxxx has not committed a breach of this Section 18, then the Company shall resume vesting of the Phantom Stock due under this Agreement and pay to Grantee all Phantom Stock that would have vested but had been suspended pending such determination.
The provisions of this Section 18 shall survive any termination of the Agreement and settlement of Phantom Stock, and shall remain applicable to Grantee.
Xxxxxxx’s right to receive settlement of the Phantom Stock shall be further conditioned upon his or her compliance with the provisions of this Section 18.
In the event Grantee fails to comply with any of the provisions of this Section 18, Grantee shall repay to the Company any prior settlement of Phantom Stock subject to this Agreement and will forfeit any unvested Phantom Stock covered by this Agreement.