Common use of Phantom Stock Units Clause in Contracts

Phantom Stock Units. The phantom stock units awarded to each Moody's Director and New D&B Director ("Corporation Phantom Stock Units") shall be adjusted or substituted, as the case may be, into a number of Moody's Phantom Stock Units equal to the number of Corporation Phantom Stock Units held by such Moody's Director or New D&B Director immediately prior to the Distribution and a number of New D&B Phantom Stock Units equal to fifty percent of the number of Corporation Phantom Stock Units held by such Corporation Director immediately prior to the Distribution. As of the Effective Time, the Moody's Group shall retain Liabilities relating to the Moody's Phantom Stock Units and the New D&B Phantom Stock Units held by Moody's Directors. As of the Effective Time, the New D&B Group shall assume Liabilities with respect to the Moody's Phantom Stock Units and the New D&B Phantom Stock Units held by all other Corporation Directors. Except as otherwise provided in the New D&B Replacement Plans, the Corporation Stock Incentive Plans, this Section 6.6 or Section 6.8, the Moody's Phantom Stock Units and the New D&B Phantom Stock Units will have the same terms and conditions as the Corporation Phantom Stock Units from which they arose.