Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates a contractual arrangement between the Company and Participant only and shall not be construed as creating a trust for the benefit of Participant. 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 Performance Shares and Dividend Equivalents, and rights no greater than the right to receive the Shares as a general unsecured creditor with respect to the Performance Shares and Dividend Equivalents, as and when settled pursuant to the terms hereof.
Appears in 5 contracts
Samples: Performance Share Award Agreement (3m Co), Performance Share Unit Agreement (Solventum Corp), Performance Share Award Agreement (3m Co)
Limitation on Participant’s Rights. Participation in the this Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual arrangement between obligation on the Company and Participant only part of the Corporation as to amounts payable and shall not be construed as creating a trust for the benefit of Participanttrust. 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 Corporation (or applicable Subsidiary Corporation) with respect to amounts credited and benefits payablepayable in cash, if any, with respect to the Performance Shares and Dividend EquivalentsUnits, and rights no greater than the right to receive the Shares Common Stock (or equivalent value) as a general unsecured creditor with respect to the Performance Shares and Dividend EquivalentsUnits, as and when settled pursuant to the terms hereofpayable thereunder.
Appears in 5 contracts
Samples: Performance Stock Unit Award Agreement (Molina Healthcare, Inc.), Performance Stock Unit Award Agreement (Molina Healthcare, Inc.), Employment Agreement (Molina Healthcare Inc)
Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates a contractual arrangement between the Company and Participant only (except as expressly provided above with respect to third-party rights of Subsidiaries) and shall not be construed as creating a trust for the benefit of Participant. 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 Performance Shares and Dividend EquivalentsAward, and rights no greater than the right to receive the Shares shares as a general unsecured creditor with respect to the Performance Shares and Dividend Equivalents, as and when settled pursuant to the terms hereofRestricted Stock.
Appears in 2 contracts
Samples: Restricted Stock Grant Agreement (Farmer Brothers Co), Restricted Stock Grant Agreement (Farmer Brothers Co)
Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates a contractual arrangement between the Company and Participant only (except as expressly provided above with respect to third-party rights of Subsidiaries) and shall not be construed as creating a trust for the benefit of Participant. 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 Performance Shares and Dividend EquivalentsOption, and rights no greater than the right to receive the Shares as a general unsecured creditor with respect to the Performance Shares and Dividend EquivalentsOption, as and when settled exercised pursuant to the terms hereof.
Appears in 2 contracts
Samples: Stock Option Award Agreement (Farmer Brothers Co), Stock Option Award Agreement (Farmer Brothers Co)