Common use of Grant of Deferred Cash Clause in Contracts

Grant of Deferred Cash. The Deferred Cash Award granted to the Grantee by the Company as of the Grant Date consists of the right to receive [insert] dollars ($[insert]) in deferred cash, less applicable taxes and payroll deductions and subject to the conditions and restrictions of this Agreement and the Plan (“Deferred Cash”). Until the Company pays the Grantee Deferred Cash under this Agreement, all funds shall continue to be part of the general funds of the Company, and title to and beneficial ownership of any assets, whether cash or investments, which the Company may, in its sole discretion, set aside or earmark to meet its obligations hereunder shall at all times remain in the Company until paid to the Grantee. The Grantee shall not under any circumstances acquire any property interest in any specific assets of the Company.

Grant of Deferred Cash. The Deferred Cash Award granted to the Grantee by the Company as of the Grant Date consists of the right to receive [insertNumber in Words] dollars ($Dollars [insert]) INSERT] in deferred cash, less applicable taxes and payroll deductions and subject to the conditions and restrictions of this Agreement and the Plan (“Deferred Cash”). Until the Company pays the Grantee Deferred Cash under this Agreement, all funds shall continue to be part of the general funds of the Company, and title to and beneficial ownership of any assets, whether cash or investments, which the Company may, in its sole discretion, set aside or earmark to meet its obligations hereunder shall at all times remain in the Company until paid to the Grantee. The Grantee shall not under any circumstances acquire any property interest in any specific assets of the Company.