Common use of Rights Unsecured Clause in Contracts

Rights Unsecured. II-VI shall remain the owner of all Performance Shares deferred by Recipient pursuant to Section 4 and Recipient shall have only II-VI’s unfunded, unsecured promise to pay pursuant to the terms of this Agreement. The rights of Recipient hereunder shall be that of an unsecured general creditor of II-VI and Recipient shall not have any security interest in any assets of II-VI.

Rights Unsecured. II-VI shall remain the owner of all Performance Shares deferred by the Recipient pursuant to Section 4 and the Recipient shall have only II-VI’s unfunded, unsecured promise to pay pursuant to the terms of this AgreementAgreement and the II-VI Non-Qualified Executive Plan, as it may be amended and/or restated from time to time, and any predecessor or successor plan thereto. The rights of the Recipient hereunder and thereunder shall be that those of an a general unsecured general creditor of II-VI and the Recipient shall not have any security interest in any assets of II-VI.

Rights Unsecured. II-VI shall remain the owner of all Performance Shares deferred by Recipient pursuant to Section 4 and Recipient shall have only II-VI’s unfunded, unsecured promise to pay pursuant to the terms of this AgreementAgreement and the II-VI Non-Qualified Executive Plan, as it may be amended and/or restated from time to time, and any predecessor or successor plan thereto. The rights of Recipient hereunder and thereunder shall be that those of an a general unsecured general creditor of II-VI and Recipient shall not have any security interest in any assets of II-VI.