PRSUs. The PRSUs constitute an unfunded and unsecured promise of the Company to deliver to the Participant, subject to the satisfaction of the vesting conditions set forth in Section 3 below and Exhibit A hereto and subject to the other terms and conditions of this Agreement and the Plan, that number of shares of Common Stock referenced by the PRSUs. Until such delivery, the Participant shall have the rights of a general unsecured creditor of the Company with respect to the PRSUs and shall not have any rights as a stockholder of the Company.
Appears in 4 contracts
Samples: Performance Based Restricted Stock Unit Agreement (Delek US Holdings, Inc.), Performance Based Restricted Stock Unit Agreement (Delek US Holdings, Inc.), Performance Based Restricted Stock Unit Agreement (Delek US Holdings, Inc.)
PRSUs. The PRSUs constitute an unfunded and unsecured promise of the Company to deliver to the Participant, subject to the satisfaction of the vesting conditions set forth in Section 3 below and Exhibit A hereto and subject to the other terms and conditions of this Agreement and the Plan, a cash payment calculated by reference to that number of shares of Common Stock referenced by the PRSUs. Until such delivery, At all times the Participant shall have the rights of a general unsecured creditor of the Company with respect to the PRSUs and shall not have any rights as a stockholder of the Company.
Appears in 1 contract
Samples: Performance Based Restricted Stock Unit Agreement (Delek US Holdings, Inc.)