Common use of Grant of Phantom Stock Units Clause in Contracts

Grant of Phantom Stock Units. Subject to the vesting and other terms and conditions set forth in this Agreement, the Employee is hereby awarded a target number of <<Number>> Phantom Stock Units; provided, that, the number of Phantom Stock Units that the Employee may earn pursuant to this Award shall range from <<Range>> of the target number Phantom Stock Units depending on the Company’s performance during the performance period that begins <<Performance Period>> (the “Performance Period”), as determined by the Committee in accordance with the performance conditions set forth in Exhibit A. Any Phantom Stock Units that are not earned in accordance with the immediately preceding sentence or Section 4(b) will terminate and be cancelled effective as of the last day of the Performance Period.

Grant of Phantom Stock Units. Subject to the vesting and other terms and conditions set forth in this Agreement, the Employee is hereby awarded a target number of <<Number>> Phantom Stock Units; provided, that, the number of Phantom Stock Units that the Employee may earn pursuant to this Award shall range from <<Range>> 0% to 200% of the target number Phantom Stock Units depending on the Company’s performance during the performance period that begins <<Performance Period>> (the “Performance Period”), as determined by the Committee in accordance with the performance conditions set forth in Exhibit A. Any Phantom Stock Units that are not earned in accordance with the immediately preceding sentence or Section 4(b) will terminate and be cancelled effective as of the last day of the Performance Period.