Common use of Award is Unfunded Clause in Contracts

Award is Unfunded. Nothing in this Agreement, the LTIP or the Plan shall require the Company to segregate or set aside any funds or other property for the purpose of paying any portion of an Award. No Participant, beneficiary or other person shall have any right, title or interest in any amount awarded under this Agreement, the LTIP or the Plan before the payment date for the Award, or in any property of the Company or a Subsidiary.

Appears in 4 contracts

Samples: Phantom Stock Award Agreement (Insperity, Inc.), Phantom Stock Award Agreement (Insperity, Inc.), Phantom Stock Award Agreement (Insperity, Inc.)

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Award is Unfunded. Nothing in this Agreement, the LTIP or the Incentive Plan shall require the Company to segregate or set aside any funds or other property for the purpose of paying any portion of an Award. No Participant, beneficiary or other person shall have any right, title or interest in any amount awarded under this Agreement, the LTIP or the Incentive Plan before the payment date for the Award, or in any property of the Company or a Subsidiary.

Appears in 1 contract

Samples: Phantom Stock Award Agreement (Insperity, Inc.)

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