effective as of January 15, 2000 by and between CORE MATERIALS CORPORATION, a. Delaware corporation (the "Company"), and James L. Simonton, an individual (the "Executive"). The Phantom Stock shall be evidenced by a Phantom Stock Award Agreement, which shall have such terms as may be set forth in the award agreement or the plan pursuant to which the Phantom Stock is awarded. This Phantom Stock Award Agreement (the “Agreement”) has been made as of , (the “Date of Grant”) between Duke Energy Corporation, a Delaware corporation, with its principal offices in Charlotte, North Carolina (the “Corporation”), and James E. Rogers (the “Grantee”). This form includes practical guidance, drafting notes, and alternate clauses. PHANTOM STOCK AGREEMENT This PHANTOM STOCK Agreement ("Agreement") is made and entered into. Vesting of Phantom Shares. PHANTOM STOCK AWARD AGREEMENT . that incorporates both phantom stock and profits interests (see Drafting Note to Section2.). What’s the purpose? Give employees the right to buy phantom stock when it’s reached a higher valuation of your choosing. “Phantom Unit Appreciation Rights”, which are the equivalent of phantom stock appreciation rights in a corporation. You are hereby granted pursuant to the Huntsman Corporation Stock Incentive Plan (the "Plan") the above number of Phantom Shares of Huntsman Corporation (the "Company"), subject to the terms and conditions of the Plan and this Agreement. When in doubt, phantom stock options are usually the best way to award stock. Phantom plan awards may either provide for full-value awards or appreciation-value awards. These entitle the holder only to a payment at a liquidity event equal to the increase in value of the LLC (based on a number of units) measured from date of the award to the date of the liquidity event. An employee with phantom stock options at $10 would receive $40,000 once EBITDA value rises high enough to bring the phantom stock price up to $18. RECITALS . Just as with stock awards, the purpose of a phantom stock plan is to generate an ownership mentality and reward key employees for helping to grow the business value. This Phantom Stock Agreement is intended to correspond to the extent practical to the Sanderson Farms, Inc. and Affiliates Stock Option Plan, as amended and restated to the date hereof ("Plan"). A phantom stock plan is a contractual agreement wherein a company promises to make cash payments to employees upon the achievement of certain conditions. For additional related information and resources, see Equity Incentive Plan Resource Kit. For example, if employee “A” were to receive 1,000 shares of phantom stock, with each stock worth $20, the current value of the company stock would be $20,000. Use this form phantom unit award agreement to grant phantom stock units to an employee or other service provider under a phantom plan. Phantom Stock Agreementby Daniel L. Hogans, Groom Law Group, Chartered, with Practical Law Employee Benefits & Executive Compensation Related Content Maintained • USA (National/Federal)A form of phantom stock agreement to be used by a private, closely-held company when granting phantom stock awards to employees under a phantom stock plan. The terms of the Plan, to the extent not inconsistent with this Phantom Stock Agreement, are incorporated herein by reference where indicated. For an accompanying form award agreement, seePhantom Unit Award Agreement. 2. For full-value award plans, the Let's say under the terms of the agreement, the employee must stay with the firm for five years to benefit fully from the phantom stock deal. The purpose of this Agreement is to provide to the Executive, who The basic concept of a phantom stock program involves a company's agreement or promise to pay a recipient of an award an amount equal to the value of …

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