Common use of No Right as a Shareholder Clause in Contracts

No Right as a Shareholder. (i) The Performance Units constitute an unfunded and unsecured obligation of the Company. The Grantee shall not have any rights of a stockholder of the Company with respect to any Shares underlying the Performance Units unless and until Shares are issued in settlement of the Performance Units. Upon such issuance of Shares, the Grantee shall be the record owner of the Shares unless and until such Shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a stockholder of the Company (including voting rights).

No Right as a Shareholder. (i) i. The Performance Units constitute an unfunded and unsecured obligation of the Company. The Grantee shall not have any rights of a stockholder of the Company with respect to any the Shares underlying the Performance Units unless and until Shares are issued in settlement of the Performance Units. Upon such Units become earned and vested and are settled by the issuance of Shares. Upon issuance of Shares in connection with the settlement of vested Performance Units, the Grantee shall be the record owner of the Shares unless and until such Shares are sold or otherwise disposed of, and as record owner shall be entitled to all rights of a stockholder of the Company (including voting rights).