Common use of Grant of the PSUs Clause in Contracts

Grant of the PSUs. The Company has granted the Participant the number of PSUs set forth in the Notice of Grant. However, unless and until the PSUs will have vested, the Participant will have no right to the payment or receipt of any Stock subject thereto. Prior to actual payment or receipt of any Stock, the PSUs will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.

Appears in 8 contracts

Samples: Performance Stock Unit Agreement (Vmware, Inc.), Performance Stock Unit Agreement (Vmware, Inc.), Performance Stock Unit Agreement (Vmware, Inc.)

AutoNDA by SimpleDocs

Grant of the PSUs. The Company has granted the Participant the number of PSUs set forth in the Notice of Grant. However, unless and until the PSUs will have vested, the Participant will have no right to the payment or receipt of any Stock subject thereto. Prior to actual payment or receipt of any Stock, the PSUs will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.

Appears in 4 contracts

Samples: Performance Stock Unit Agreement (Vmware, Inc.), Performance Stock Unit Agreement (Vmware, Inc.), Performance Stock Unit Agreement (Vmware, Inc.)

AutoNDA by SimpleDocs

Grant of the PSUs. The Company has granted the Participant the number of PSUs As set forth in the Notice of GrantGrant Notice, the Company hereby grants to Participant the PSUs, subject to all the terms and conditions in the Grant Notice, including this Exhibit A, and the Plan. However, unless and no shares of Stock (“Shares”) shall be issued to Participant until the PSUs will have vested, the Participant will have no right to the payment or receipt of any Stock subject theretotime set forth in Section 2. Prior to actual payment or receipt issuance of any StockShares, the such PSUs 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: Performance Share Unit Award Agreement, Performance Share Unit Award Agreement (Ebay Inc), Performance Share Unit Award Agreement (Ebay Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!