How a Marketing & Advertising Business Hired a Lawyer to Draft a Phantom Stock Agreement in California

In 2023, a business in California sought assistance with drafting a phantom stock agreement to provide equity to an employee contingent upon the sale or acquisition of the company. The client aimed to create a structure that would motivate and reward a key individual in the organization, specifically the Director of Partnerships, while aligning their interests with the future success of the business. This arrangement was critical for the client as they navigated their strategic growth plans in the competitive marketing and advertising industry. As a result, the client received five proposals from qualified attorneys, with flat fee bids ranging from $950 to $1,500, all submitted to meet the client's deadline of less than a week.