Phantom share award plan rules
Produced in partnership with Stephen Diosi and Caroline Nye-Wilkins of Mischon de Reya

The following Share Incentives precedent produced in partnership with Stephen Diosi and Caroline Nye-Wilkins of Mischon de Reya provides comprehensive and up to date legal information covering:

  • Phantom share award plan rules

Phantom share award plan rules

RULES OF THE [insert name of company] PHANTOM SHARE AWARD PLAN

Adopted by the Board on [insert date]

    1. 1


      In these Rules (unless the context otherwise requires) the following words and phrases have the following meanings:


      1. means an award of Units granted to a Participant, subject to the terms of the Plan and the Award Agreement;

      Award Agreement

      1. means the agreement referred to in Rule 3.5 entered into between the Company and an Eligible Employee;

      Award Date

      1. means the date on which the Board grants an Award in accordance with the rules of the Plan;

      Award Payment

      1. means in respect of each Unit subject to an Award, a cash payment equal to the difference between the Base Value and the Exit Value;

      Base Value

      1. is the Market Value of a Share as at the Award Date or such other value as determined by the Board on the Award Date;


      1. means the board of directors from time to time of the Company or a duly authorised committee of such directors;


      1. means [insert name of company], a company incorporated in [insert jurisdiction] with company registration number [insert registration number] and whose registered office is situated at [insert address];


      1. means any condition which must be satisfied before an Award may Vest and which is specified in the Award Agreement;


      1. has the meaning given to it by section 995

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