Unfunded Arrangement. The right of the Grantee to receive payment under the award shall be an unsecured contractual claim against the Company. As such, neither the Grantee nor any Successor shall have any rights in or against any specific assets of the Company based on the award. Awards shall at all times be considered entirely unfunded for tax purposes.
Appears in 15 contracts
Samples: Restricted Stock Rights Grant Agreement (Northrop Grumman Corp /De/), Restricted Performance Stock Rights Grant Agreement (Northrop Grumman Corp /De/), Restricted Stock Rights Grant Agreement (Northrop Grumman Corp /De/)
