Common use of Limitation on Participant’s Rights Clause in Contracts

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the PSUs, and rights no greater than the right to receive cash or the Shares as a general unsecured creditor with respect to the PSUs, as and when settled pursuant to the terms of this Agreement.

Appears in 3 contracts

Samples: Employment Agreement (Oscar Health, Inc.), Performance Based Stock Unit Agreement (Cleanspark, Inc.), Performance Based Restricted Stock Unit Grant Agreement (Guardant Health, Inc.)

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Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant will shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the PSUs, and rights no greater than the right to receive cash or the Shares as a general unsecured creditor with respect to the PSUs, as and when settled pursuant to the terms of this Agreementpayable hereunder.

Appears in 2 contracts

Samples: Performance Share Unit Award Agreement (Mellanox Technologies, Ltd.), Performance Share Unit Award Agreement (Mellanox Technologies, Ltd.)

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the PSUsPSUs and Dividend Equivalents, and rights no greater than the right to receive cash or the Shares as a general unsecured creditor with respect to the PSUsPSUs and the Dividend Equivalents, as and when settled pursuant to the terms of this Agreement.

Appears in 2 contracts

Samples: Performance Based Restricted Stock Unit Agreement (Guardant Health, Inc.), Performance Based Restricted Stock Unit Grant Agreement (Guardant Health, Inc.)

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the PSUsPSUs and Dividend Equivalents, and rights no greater than the right to receive cash or the Shares as a general unsecured creditor with respect to the PSUsPSUs and Dividend Equivalents, as and when settled pursuant to the terms of this Agreement.

Appears in 1 contract

Samples: Performance Share Unit Agreement

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant will shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the PSUs, and rights no greater than the right to receive cash or the Shares as a general unsecured creditor with respect to the PSUs, as and when settled pursuant to the terms of this Agreementpayable hereunder.

Appears in 1 contract

Samples: Performance Vesting Restricted Stock Unit Award Agreement (Motorcar Parts America Inc)

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Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the PSUs, and rights no greater than the right to receive cash or the Shares shares of Stock as a general unsecured creditor with respect to the PSUs, as and when settled pursuant to the terms of this Agreement.

Appears in 1 contract

Samples: Performance Share Unit Agreement (K12 Inc)

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and may shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant will shall have only the rights of a general unsecured creditor of the Company and its Subsidiaries with respect to amounts credited and benefits payable, if any, with respect to the PSUs, and rights no greater than the right to receive cash or the Shares as a general unsecured creditor with respect to the PSUs, as and when settled pursuant to the terms of this Agreementpayable hereunder.

Appears in 1 contract

Samples: Performance Stock Unit Award Agreement (Rivian Automotive, Inc. / DE)

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