Examples of Phantom Stock Unit Account in a sentence
The Committee shall establish a Phantom Stock Unit Account with respect to each Participant.
In the event of any change in the outstanding shares of Stock by reason of any stock dividend or split, recapitalization, merger, consolidation, combination or exchange of shares, or other similar corporate change, the Committee shall make such adjustments in each Participant’s Phantom Stock Unit Account, including the number of Phantom Stock Units, as it deems to be equitable under the Plan in order fairly to give effect to such change and to the purpose and intent of the Plan.
Each Participant shall receive a Dividend Equivalent for each Phantom Stock Unit credited to such Participant’s Phantom Stock Unit Account.
In the event of any change in the outstanding shares of Common Stock by reason of any stock dividend or split, recapitalization, merger, consolidation, combination or exchange of shares, or other similar corporate change, the Board shall make such adjustments in each Participant’s Phantom Stock Unit Account, including the number of Phantom Stock Units, as it deems to be equitable under the Plan in order to fairly give effect to such change and to the purpose and intent of the Plan.
Credits to the Phantom Stock Unit Account shall be made to reflect the grant of Phantom Stock Units.
As of each January 1 and July 1, a Participant may elect to transfer all or any part of his/her Phantom Stock Unit Account or Phantom Fixed Income Account to and between the other such Account.
The chairperson of the Council shall be appointed by the Minister from amongst the members of the Council and such person shall be the chairperson for the period for which he or she was appointed as a member of the Council.If the position of chairperson becomes vacant the Minister shall, subject to paragraph (a).
The Borrower shall observe and comply with those financial performance and inventory covenants set forth on EXHIBIT 9-11 annexed hereto.
In the event of any change in the number of shares of outstanding Stock by reason of any stock split, stock dividend, recapitalization, or the like, whereby the outstanding shares of Stock are adjusted, the number of phantom stock units credited to the Phantom Stock Unit Account shall be equitably adjusted to reflect such change.
If, as of the record date for a cash dividend on Stock, Phantom Stock Units or RSUs have been (or should have been) properly credited to the Phantom Stock Unit Account or as RSUs of a Participant, the Company shall credit to the Phantom Fixed Income Account of that Participant, or the RSUs of that Participant to the extent so provided under the Participant’s RSU award, as of that record date, a Dividend Equivalent for such Phantom Stock Units or RSUs, as the case may be.