body: The wording of this paragraph is not clear to me. Does the value of the Phantom Units equate to 0.25% of the FMV or do they equate to 0.25% of 10% of full FMV?
  
  
  
  > 
  > The number of Phantom Units granted hereby is intended to equate to
  >  one-quarter of one percent (0.25%) of the Fair Market Value of the
  >  Company as if the maximum number of Phantom Units that may be awarded
  >  under the Plan are outstanding, inclusive of the Phantom Units granted
  >  hereby, which in the aggregate represent 10% of the Fair Market Value
  >  of the Company, and the remaining 90% of the Fair Market Value of the
  >  Company is represented by the outstanding Class A Units held by the
  >  Founder Group.
  > 
  > 
  > 
  
  
  For example: Assuming the contract awards 100 Phantom Units and the company is valued at $10M which of the following two calculations correctly interprets the value of the Phantom Units? 
  
  
  A) 0.25% of 10% of $10M = $2,500
  
  
  or 
  
  
  B) 0.25% of 100% of $10M = $25,000
  
  
  
title: What is the value of these phantom shares?