Phantom Share definition

Phantom Share means a right, pursuant to the Plan, of the Grantee to payment of the Phantom Share Value.

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Phantom Share means an Award denominated in Shares in which the Grantee has the right to receive an amount equal to the value of a specified number of Shares over a specified period of time and which will be payable in cash or Shares as established by the Administrator.

Phantom Share means a contractual right granted to a Participant pursuant to Article V to receive an amount equal to the Appreciation Value at such time, subject to the terms and conditions set forth in the Plan and the applicable Agreement.

Examples of Phantom Share in a sentence

• The Participant acknowledges and agrees that, with respect to each Phantom Share credited to the Account, the Participant has no voting rights with respect to the Company.

• So long as a final payment pursuant to paragraph 5 ("Final Payment") has not been made with respect to a Phantom Share, the Company shall pay to the Director from time to time with respect to the Phantom Share an interim payment ("Interim Payment") equal to the amount of the dividend in cash or property (but not shares of Common Stock) paid per share to holders of shares of Common Stock.

• The amount of the Final Payment with respect to a Phantom Share shall equal the Applicable Value (as defined below) of a share of Common Stock with respect to a date (the "Valuation Date") which shall be either (a) the date that the Director ceases to serve as a member of the Board for any reason other than resignation or (b) the date of the Company's Annual Meeting of Stockholders that first occurs after the Director resigns as a Director of the Company.

• Upon the payment of the Final Payment calculated as provided in paragraph 6 with respect to a Phantom Share, the Phantom Share shall be treated as terminated for all purposes and the Director and his successors in interest shall have no further rights of any kind with respect to the Phantom Share.

• The Final Payment with respect to all Phantom Shares of the Director shall be made by check, in the amount per Phantom Share determined under paragraph 6, within 40 days after the Valuation Date.

More Definitions of Phantom Share

Phantom Share means a contractual right granted to a Participant pursuant to Article VIII to receive an amount equal to the Appreciation Value at such time, and subject to such terms and conditions as are set forth in this Plan and the applicable grant.

Phantom Share means a right, pursuant to the Plan, of the Grantee to payment of the Phantom Share Value, in cash, shares of Common Stock, or a combination of cash and shares of Common Stock, as determined by the Agreement; Phantom Shares shall include, but not be limited to, restricted stock units.

Phantom Share means a right, pursuant to the Plan, of the Grantee to payment of the Phantom Share Value in accordance with Section 7. A Phantom Share may also be known as a “Restricted Stock Unit,” which is an unfunded and unsecured promise to deliver Shares, cash, other securities or other property, subject to certain restrictions (which may include, without limitation, a requirement that the Grantee remain continuously employed or provide continuous services for a specified period of time).

Phantom Share means a hypothetical Share which is cancelled by the delivery of an actual Share or, in the discretion of the Corporation, by the payment of cash (or a combination of cash and Shares) in an amount equal to the Fair Market Value of a Share on the date of surrender.

Phantom Share means a deemed share, the value of which equals the Share Value.

Phantom Share means a hypothetical or imaginary Tecumseh Share without any of the rights attached to an actual Tecumseh Share, but whose economic value for purposes of the Plan is the same as that of an actual Tecumseh Share.

Phantom Share means a phantom share granted under the LTIP;