How a Management Consulting Business Hired a Lawyer to Draft a Phantom Stock Agreement in Florida

In 2023, a business in Florida sought assistance in drafting a phantom stock agreement that would allow for the purchase of actual common shares after a vesting period. The client aimed to create a plan that simulates stock options within an S Corporation structure, allowing participants to acquire shares rather than merely receiving cash equivalents upon a sale. This nuanced approach arose from the client's goal to provide more tangible ownership options for employees, specifically those in a Chief Technology Officer role. As a result, the client received one proposal from a licensed lawyer, with a flat fee bid priced at $999. The proposal was submitted to meet the client's deadline of one week, ensuring timely completion of the requested services.