No Funding. This Agreement shall be unfunded. Professionals Group shall not be required to establish any special or separate fund or to make any other segregation of assets to assure the vesting of any of the Shares; provided, however, that Professionals Group has reserved for issuance pursuant to this Agreement that number of shares of Professionals Group Common Stock that is equivalent to the number of shares of Professionals Group Common Stock granted and allocated to Executive pursuant to this Agreement.
Appears in 2 contracts
Samples: Confidentiality, Noncompetition and Stock Grant Agreement (Professionals Insurance Co Management Group), Confidentiality, Noncompetition and Stock Grant Agreement (Professionals Group Inc)
No Funding. This Agreement shall be unfunded. Professionals Group shall not be required to establish any special or separate fund or to make any other segregation of assets to assure the vesting of any of the Shares; provided, however, that Professionals Group has reserved for issuance pursuant to this Agreement that number of shares of Professionals Group Common Stock that is equivalent to the number of shares of Professionals Group Common Stock granted and allocated to Executive Consultant pursuant to this Agreement.
Appears in 2 contracts
Samples: Consulting, Confidentiality and Noncompetition Agreement (Professionals Insurance Co Management Group), Consulting, Confidentiality and Noncompetition Agreement (Professionals Group Inc)
