Phantom Stock Example

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Multi-State
Control #:
US-CC-20-162A
Format:
Word; 
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Description

The First Florida Banks, Inc. Book Value Phantom Stock Plan is designed to attract and retain management talent while aligning their interests with those of shareholders through incentive compensation based on shareholder equity growth. Key features include phantom shares, which represent fictitious stock with value tied to the company's common stock's book value. The Phantom Stock Plan Committee administers the plan, deciding employee participation and award sizes. Participants may elect to defer compensation through a Deferred Compensation Agreement, with specified terms. The total number of phantom shares is capped at 500,000, and grants are valid for up to ten years. Important use cases for this form include providing management with an incentive structure, helping to manage employee turnover, and facilitating smooth transitions in the event of a company merger or change in control. This form is especially useful for attorneys and legal staff in structuring compensation plans, ensuring compliance, and advising clients on shareholder relations. Paralegals and legal assistants can aid in processing the necessary documentation and understanding prerequisites for grant eligibility.
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  • Preview Book Value Phantom Stock Plan of First Florida Banks, Inc.
  • Preview Book Value Phantom Stock Plan of First Florida Banks, Inc.
  • Preview Book Value Phantom Stock Plan of First Florida Banks, Inc.
  • Preview Book Value Phantom Stock Plan of First Florida Banks, Inc.
  • Preview Book Value Phantom Stock Plan of First Florida Banks, Inc.

How to fill out Book Value Phantom Stock Plan Of First Florida Banks, Inc.?

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If the satisfaction isn't recorded within a minimum of 60 days, they may incur penalties and be held liable for damages and attorney's fees.

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Within 60 days of the date of receipt of the full payment of the mortgage, lien, or judgment, the person required to acknowledge satisfaction of the mortgage, lien, or judgment shall send or cause to be sent the recorded satisfaction to the person who has made the full payment.

What is Satisfaction of Mortgage? A Satisfaction of Mortgage, also known as a Mortgage Lien Release, is a legal document provided by the mortgagee (financial institution) advising that the mortgage has been paid in full, all terms of the loan have been satisfied and there will no longer be a lien on the property.

Primary tabs. A satisfaction of mortgage is a document that proves the borrower has paid off the mortgage in full, freeing the loan's lien on the property and giving the title to the borrower.

The Satisfaction of Mortgage should be filed with the County Recorder or City Registrar. This will acknowledge and document, that the previously obtained mortgage has been paid in full and there is no longer a lien on the property.

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Phantom Stock Example