Funding of Retention Bonus. The Company may, but is not required to, fund the Retention Bonus described in this Agreement. In any event, the obligation of the Company hereunder will constitute a general, unsecured obligation, payable solely out of its general assets (which assets are subject to the claims of the Company’s general unsecured creditors in the event of the Company’s insolvency), and the Executive will not have any right to any specific assets of the Company. If the Company becomes insolvent, the Executive will have only the rights of a general unsecured creditor against the Company for any amounts due under this Agreement.
Appears in 5 contracts
Samples: Retention Agreement (Solid Power, Inc.), Retention Agreement (Chipotle Mexican Grill Inc), Retention Agreement (Chipotle Mexican Grill Inc)
