Performance Units. Each Performance Unit constitutes an unfunded and unsecured promise of the Corporation to deliver up to two shares of the Corporation’s common stock to the Participant (subject to adjustment as provided in Section 4.2 of the Plan) pursuant to the terms of this Agreement, subject to the vesting provisions in Exhibit A. The Performance Units shall be used solely as a device for the determination of the payment to eventually be made to the Participant if such Performance Units vest pursuant to Section 2. The Performance Units shall not be treated as property or as a trust fund of any kind.
Appears in 5 contracts
Samples: Employment Agreement (Molina Healthcare Inc), Performance Stock Unit Award Agreement (Molina Healthcare Inc), Performance Stock Unit Award Agreement (Molina Healthcare, Inc.)
Performance Units. Each Performance Unit constitutes an unfunded and unsecured promise of the Corporation to deliver up to two one and a half shares of the Corporation’s common stock to the Participant (subject to adjustment as provided in Section 4.2 of the PlanPlan and Section 9 below) pursuant to the terms of this Agreement, subject to the vesting provisions in Exhibit A. The Performance Units shall be used solely as a device for the determination of the payment to eventually be made to the Participant if such Performance Units vest pursuant to Section 2. The Performance Units shall not be treated as property or as a trust fund of any kind.
Appears in 2 contracts
Samples: Performance Stock Unit Award Agreement (Molina Healthcare, Inc.), Performance Stock Unit Award Agreement (Molina Healthcare, Inc.)
