Company’s Obligation to Pay Clause Example from Business Contracts

Company’s Obligation to Pay. Each Restricted Stock Unit represents a right to receive one Share for each vested Restricted Stock Unit pursuant to the terms and conditions of this Agreement. Unless and until the Restricted Stock Units will have vested in the manner set forth in the Agreement, Employee will have no right to payment of any such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Unit will represent an unsecured obligation of the Company, payable (if at al...l) only from the general assets of the Company. Payment of any vested Restricted Stock Units will be made in whole Shares only. View More