Common use of Phantom Shares Clause in Contracts

Phantom Shares. As soon as practicable following the date Phantom Shares granted hereunder become vested but no later than 60 days following such vesting, the Company shall pay the Recipient a lump sum cash payment equal the number of Phantom Shares vested pursuant to the vesting provisions of Section 5, if any, multiplied by the Fair Market Value of a share of Stock valued on the date the respective Phantom Share became payable.

Phantom Shares. As soon as practicable following the date dates on which the Phantom Shares granted hereunder become vested but no later than 60 sixty days following each such vesting, the Company shall pay the Recipient a lump sum cash payment equal the number of Phantom Shares vested pursuant to the vesting provisions of Section 5, if any, multiplied by the Fair Market Value of a share of Stock valued on the date the respective Phantom Share Shares became payable.