Phantom Stock Award definition

Phantom Stock Award means an Award granted under Paragraph XI of the Plan.

Phantom Stock Award means an Award granted under Section 11, entitling a Participant to a payment in cash, shares of Common Stock or a combination of cash and Common Stock (as determined by the Administrator), following the completion of the applicable vesting period and compliance with the terms of the Plan and other terms and conditions established by the Administrator. The unit value of a Phantom Stock Award shall be based on the Fair Market Value of a share of Common Stock.

Phantom Stock Award means an Award granted under Section 10 of the Plan.

Examples of Phantom Stock Award in a sentence

• Unless the Administrator determines otherwise, (i) Phantom Stock Awards shall not be transferable (including by sale, assignment, pledge or hypothecation) other than transfers by will or the laws of intestate succession and (ii) shares of Common Stock (if any) subject to a Phantom Stock Award may not be sold, transferred, assigned, pledged or otherwise encumbered until the Phantom Stock Award has vested and all other conditions established by the Administrator have been met.

• A Phantom Stock Award is an Award to a Participant of a number of hypothetical share units with respect to shares of Common Stock, with a value based on the Fair Market Value of a share of Common Stock.

• Upon vesting of all or a part of a Phantom Stock Award and satisfaction of such other terms and conditions as may be established by the Administrator, the Participant shall be entitled to a payment of an amount equal to the Fair Market Value of one share of Common Stock with respect to each such Phantom Stock unit which has vested and is payable.

More Definitions of Phantom Stock Award

Phantom Stock Award means a cash award whose value is determined based on the change in the value of the Company Common Stock from the Effective Date.

Phantom Stock Award means a right to receive shares of Common Stock which is granted pursuant to the terms and conditions of Section 7(b).

Phantom Stock Award means the right to receive in cash the Fair Market Value of a share of Common Stock under Article X of the Plan.

Phantom Stock Award means an Award granted in accordance with the provisions of Section 11 hereof, which shall entitle the holder thereof to receive from the Corporation cash or Shares, or a combination of cash and Shares, based upon the Fair Market Value of Shares at the time of the expiration of the vesting period under such Award, subject to the terms and conditions of the Plan.

Phantom Stock Award means an Award granted pursuant to Section 11 of the Plan.

Phantom Stock Award means an Award granted under Section X.

Phantom Stock Award means an Award of Phantom Stock, granted pursuant to ARTICLE V.