Company’s Obligation. Each Restricted Stock Unit represents the right to receive a Share on the vesting date (or at such later time indicated in this Agreement). Unless and until the Restricted Stock Units vest, Participant will have no right to receive Shares under such Restricted Stock Units. Prior to actual distribution of Shares pursuant to any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.
Appears in 3 contracts
Samples: Restricted Stock Unit Agreement (Catalyst Semiconductor Inc), Restricted Stock Unit Agreement (On Semiconductor Corp), Restricted Stock Unit Agreement (On Semiconductor Corp)
Company’s Obligation. Each Restricted Stock Unit represents the right to receive a Share on the vesting date (or at such later time indicated in this Agreement)date. Unless and until the Restricted Stock Units vest, Participant will have no right to receive Shares under such Restricted Stock Units. Prior to actual distribution of Shares pursuant to any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Catalyst Semiconductor Inc)
