Phantom Stock Agreement (Genie AI)

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About this template
The Phantom Stock Agreement (Genie AI) is a legal template that governs the arrangement between a company and its employees or executives regarding the allocation of phantom stock units as a form of compensation or incentive. Phantom stock units are hypothetical shares that mirror the performance of actual company shares, entitling the holders to receive financial benefits equivalent to the appreciation in the company's stock value over a specific period of time. This agreement outlines the terms and conditions of the phantom stock program, including the eligibility criteria, vesting schedule, valuation methodologies, and potential payout mechanisms. It further delineates the rights and obligations of both the company and the employees participating in the program, such as ownership rights, voting rights, dividends, and any applicable tax implications. By utilizing this template, companies can establish a clear and legally enforceable framework for providing their key personnel with an opportunity to benefit from the future growth and success of the organization, while aligning their interests with those of the shareholders.
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