Phantom Stock Plan

State:
Multi-State
Control #:
US-CC-24-258
Format:
Word; 
Rich Text
Instant download

Description

The Phantom Stock Plan provides awards in the form of "phantom units," which grant recipients future payments based on the value of Common Stock without conferring actual equity ownership. The plan is administered by a committee and allows awards to be extended to any employee, typically targeting senior management. Each phantom unit creates an unfunded account for the recipient, with vested amounts payable at retirement, death, disability, or at the end of a specified vesting period, which cannot exceed five years. The payment amount at vesting includes the fair market value of Common Stock on that date, cash dividends, and interest on accumulated equivalents. Units may be forfeited if employment terminates for reasons other than death, disability, or retirement. The Chief Executive Officer recommends the details of the awards, which the committee approves, while the Board of Directors approves the total number of units awarded. Recipients can convert unvested units to interest-bearing equivalents, adding flexibility to their plans. Additionally, the committee can grant phantom units in exchange for restricted stock plan shares, ensuring cohesive vesting timelines. This plan is particularly beneficial for legal professionals, including attorneys and legal assistants, as it outlines key benefits and obligations, thereby supporting informed decisions in compensation structuring.
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FAQ

Whenever a judgment debtor or any other person fails to comply with any court order entered pursuant to this chapter, except an order against a judgment debtor issued for failure to comply with a disclosure subpoena, the judgment creditor may file a motion with the court to hold that person in contempt.

You can file for divorce in Maine if: You are married and have lived in Maine for 6 months or longer; or. You are a Maine resident and were married in Maine; or. You are a Maine resident and were living in Maine when the cause of divorce arose; or. Your spouse is a Maine resident.

In either case, Maine law requires a minimum 60-day waiting period between the filing of all the necessary divorce paperwork and the final hearing. Your case may take longer than 60 days, especially if you and your spouse do not agree on all issues.

Under Maine law, a judge can't schedule a final divorce hearing until at least 60 days have passed since the defendant was served with the divorce paperwork. Your divorce may be finalized any time after the 60-day period, but a lot will depend on how quickly you and your spouse can resolve the issues in your case.

This is the Maine form for keeping your address confidential when filing for a Protection from Abuse order. Use this form if you don't want the abuser to know your address.

If you have been served with court papers in a divorce or parental rights and responsibilities case, you may file a written response (called an "answer") within 21 days of when you received the papers. Your answer or response may include a ?counterclaim? (a claim against the plaintiff).

In Maine, adultery is a ground for a fault-based divorce. This means that if you or your partner was unfaithful during marriage, that fact can be used to press a petition for divorce.

Attorneys and parties with elevated access may view and download court records associated with their case(s) at no cost. For all other users, access to public court documents is available at a courthouse where eFiling is available.

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Phantom Stock Plan