Company’s Obligation to Pay. Each Performance Unit represents the right to receive a Share on the date it vests. Unless and until the Performance Units will have vested in the manner set forth in Section 3 or 4, Participant will have no right to payment of any such Performance Units. Prior to actual payment of any vested Performance Units, such Performance Unit will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.
Appears in 9 contracts
Samples: Performance Unit Award Agreement (TrueCar, Inc.), Restricted Stock Unit Agreement (Micron Technology Inc), Performance Unit Agreement (Elastic N.V.)
Company’s Obligation to Pay. Each Performance Unit represents the right to receive a Share on the date it vests. Unless and until the Performance Units will shall have vested in the manner set forth in Section 3 or 43, the Participant will shall have no right to payment of any such Performance Units. Prior to actual payment of any vested Performance Units, such Performance Unit will Units shall represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.
Appears in 5 contracts
Samples: Performance Unit Agreement (Foxhollow Technologies, Inc.), Performance Unit Agreement (Monolithic Power Systems Inc), Performance Unit Agreement (Foxhollow Technologies, Inc.)
Company’s Obligation to Pay. Each Performance Unit represents the right to receive a Share on the date it vests. Unless and until the Performance Units will have vested in the manner set forth in Section Sections 3 or 44 of these Terms and Conditions, Participant will have no right to payment of any such Performance Units. Prior to actual payment of any vested Performance Units, such Performance Unit will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.
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