Phantom Stock Units. The number of Phantom Stock Units subject to the Award shall be _________________________________ (_______). Each Phantom Stock Unit represents the Company’s unfunded and unsecured obligation to make a cash payment equal to the value of one share of the Company’s common stock (“Common Stock”), $.01 par value per share, in accordance with this Award, subject to the terms of this Award and the Plan.
Appears in 2 contracts
Sources: Service Based Phantom Stock Unit Award (Ruby Tuesday Inc), Service Based Phantom Stock Unit Award (Ruby Tuesday Inc)