Unfunded Plan Clause Example with 20 Variations from Business Contracts
This page contains Unfunded Plan clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Unfunded Plan. This Plan is unfunded. Although bookkeeping accounts may be established with respect to Participants who are entitled to cash, Common Stock or rights thereto under this Plan, any such accounts shall be used merely as a bookkeeping convenience. The Company shall not be required to segregate any assets that may at any time be represented by cash, Common Stock or rights thereto, nor shall this Plan be construed as providing for such segregation, nor shall the Company, the Board or the Committee be ...deemed to be a trustee of any cash, Common Stock or rights thereto to be granted under this Plan. Any liability or obligation of the Company to any Participant with respect to an Award of cash, Common Stock or rights thereto under this Plan shall be based solely upon any contractual obligations that may be created by this Plan and any Award Agreement, and no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. None of the Company, the Board or the Committee shall be required to give any security or bond for the performance of any obligation that may be created by this Plan. With respect to this Plan and any Awards granted hereunder, Participants are general and unsecured creditors of the Company and have no rights or claims except as otherwise provided in this Plan or any applicable Award Agreement.View More
Variations of a "Unfunded Plan" Clause from Business Contracts
Unfunded Plan. This Insofar as it provides for Awards, the Plan is shall be unfunded. Although bookkeeping accounts may be established with respect to Participants who are entitled to cash, Common Stock or rights thereto granted Awards under this Plan, any such accounts shall will be used merely as a bookkeeping convenience. The Company shall not be required to segregate any assets that which may at any time be represented by cash, Common Stock or rights thereto, Awards, nor shall this Plan be construed as pro...viding for such segregation, nor shall the Company, the Board Company or the Committee Administrator be deemed to be a trustee of any cash, Common Stock stock or rights thereto cash to be granted awarded under this the Plan. Any liability or obligation of the Company to any Participant with respect to an Award of cash, Common Stock or rights thereto under this Plan shall be based solely upon any contractual obligations that may be created by this Plan and any Award Agreement, and no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. None of the Company, the Board or the Committee shall be required to give any security or bond for the performance of any obligation that may be created by this Plan. With respect to this Plan and any Awards granted hereunder, Participants are general and unsecured creditors of the Company and have no rights or claims except as otherwise provided in this Plan or any applicable Award Agreement.View More
Unfunded Plan. This Insofar as it provides for Awards, the Plan is shall be unfunded. Although bookkeeping accounts may be established with respect to Participants Holders who are entitled to cash, Common granted Stock or rights thereto Awards under this Plan, any such accounts shall will be used merely as a bookkeeping convenience. The Company shall not be required to segregate any assets that may at any time be represented by cash, Common Stock or rights thereto, Awards, nor shall this Plan be construed as p...roviding for such segregation, nor shall the Company, the Board Company or the Committee be deemed to be a trustee of any cash, Common Stock stock or rights thereto cash to be granted awarded under this the Plan. Any liability or obligation of the Company to any Participant with respect to an Award of cash, Common Stock or rights thereto under this Plan shall be based solely upon any contractual obligations that may be created by this Plan and any Award Agreement, and the Plan; no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. None of Neither the Company, the Board or Company nor the Committee shall be required to give any security or bond for the performance of any obligation that may be created by this Plan. With respect to 14 EX-10.7 8 ex10-7.htm Exhibit 10.7 NANO MAGIC HOLDINGS INC. 2021 EQUITY INCENTIVE PLAN 1. Purpose. The purpose of this Plan and any Awards granted hereunder, Participants are general and unsecured creditors of is to permit equity compensation for those who provide services to the Company and have no rights or claims except to encourage ownership in the Company by personnel whose service the Company is important to its continued progress, to encourage recipients to act as otherwise provided owners and thereby in this Plan or any applicable Award Agreement. the stockholders' interest and to enable recipients to share in the Company's success. View More
Unfunded Plan. This Insofar as it provides for Awards, the Plan is shall be unfunded. Although bookkeeping accounts may be established with respect to Participants Awardees who are entitled to cash, Common granted Stock or rights thereto Awards under this Plan, any such accounts shall will be used merely as a bookkeeping convenience. The Company shall not be required to segregate any assets that may at any time be represented by cash, Common Stock or rights thereto, Awards, nor shall this Plan be construed as ...providing for such segregation, nor shall the Company, the Board Company or the Committee Administrator be deemed to be a trustee of any cash, Common Stock stock or rights thereto cash to be granted awarded under this the Plan. Any liability or obligation of the Company to any Participant with respect to an Award of cash, Common Stock or rights thereto under this Plan shall be based solely upon any contractual obligations that may be created by this Plan and any Award Agreement, and the Plan; no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. None of Neither the Company, Company nor the Board or the Committee Administrator shall be required to give any security or bond for the performance of any obligation that may be created by this Plan. With respect to Adopted 11.30.15 14 EX-10.14 2 ex10-14.htm PEN Inc. 2015 EQUITY INCENTIVE PLAN 1. Purpose of the Plan. The purpose of this Plan and any Awards granted hereunder, Participants are general and unsecured creditors of is to permit equity compensation for those who provide services to the Company and have no rights or claims except as otherwise provided to encourage ownership in this Plan or any applicable Award Agreement. the Company by key personnel whose long-term service the Company considers essential to its continued progress and, thereby, encourage recipients to act in the stockholders' interest and share in the Company's success. View More
Unfunded Plan. This Insofar as it provides for Awards, the Plan is shall be unfunded. Although bookkeeping accounts may be established with respect to Participants Awardees who are entitled to cash, Common granted Stock Awards, Stock Unit Awards or rights thereto Other Stock-Based Awards under this Plan, any such accounts shall will be used merely as a bookkeeping convenience. The Company shall not be required to segregate any assets that which may at any time be represented by cash, Common Stock or rights the...reto, Awards, nor shall this Plan be construed as providing for such segregation, segregation. Neither the Company nor the Administrator shall the Company, the Board or the Committee be deemed to be a trustee of any cash, Common Stock Shares or rights thereto cash to be granted awarded under this the Plan. Any liability or obligation of the Company to any Participant with respect to an Award of cash, Common Stock or rights thereto under this Plan shall be based solely upon any contractual obligations that which may be created by this Plan and any Award Agreement, and the Plan; no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. None of Neither the Company, Company nor the Board or the Committee Administrator shall be required to give any security or bond for the performance of any obligation that which may be created by this Plan. With respect to this Plan and any Awards granted hereunder, Participants are general and unsecured creditors of the Company and have no rights or claims except as otherwise provided in this Plan or any applicable Award Agreement.View More
Unfunded Plan. This Insofar as it provides for Awards, the Plan is shall be unfunded. Although bookkeeping accounts may be established with respect to Participants Awardees who are entitled to cash, Common granted Stock Awards or rights thereto Other Stock-Based Awards under this Plan, any such accounts shall will be used merely as a bookkeeping convenience. The Company shall not be required to segregate any assets that which may at any time be represented by cash, Common Stock or rights thereto, Awards, nor s...hall this Plan be construed as providing for such segregation, segregation. Neither the Company nor the Administrator shall the Company, the Board or the Committee be deemed to be a trustee of any cash, Common Stock stock or rights thereto cash to be granted awarded under this the Plan. Any liability or obligation of the Company to any Participant with respect to an Award of cash, Common Stock or rights thereto under this Plan shall be based solely upon any contractual obligations that which may be created by this Plan and any Award Agreement, and the Plan; no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. None of Neither the Company, Company nor the Board or the Committee Administrator shall be required to give any security or bond for the performance of any obligation that which may be created by this Plan. With respect to this Plan and any Awards granted hereunder, Participants are general and unsecured creditors of the Company and have no rights or claims except as otherwise provided in this Plan or any applicable Award Agreement.View More
Unfunded Plan. This Insofar as it provides for Awards, the Plan is shall be unfunded. Although bookkeeping accounts may be established with respect to Participants Awardees who are entitled to cash, Common granted Stock or rights thereto Awards under this Plan, any such accounts shall will be used merely as a bookkeeping convenience. The Company shall not be required to segregate any assets that which may at any time be represented by cash, Common Stock or rights thereto, Awards, nor shall this Plan be constru...ed as providing for such segregation, nor shall the Company, Company nor the Board or the Committee Administrator be deemed to be a trustee of any cash, Common Stock stock or rights thereto cash to be granted awarded under this the Plan. Any liability or obligation of the Company to any Participant with respect to an Award of cash, Common Stock or rights thereto under this Plan shall be based solely upon any contractual obligations that which may be created by this Plan and any Award Agreement, and the Plan; no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. None of Neither the Company, Company nor the Board or the Committee Administrator shall be required to give any security or bond for the performance of any obligation that which may be created by this Plan. With respect to this Plan and any Awards granted hereunder, Participants are general and unsecured creditors of the Company and have no rights or claims except as otherwise provided in this Plan or any applicable Award Agreement.View More
Unfunded Plan. This Plan is shall be unfunded. Although bookkeeping accounts may be established with respect to Participants who are entitled to cash, Common Stock or rights thereto under this Plan, any such accounts shall be used merely as a bookkeeping convenience. convenience, including bookkeeping accounts established by a third party administrator retained by the Company to administer the Plan. The Company shall not be required to segregate any assets that may at any time be represented by cash, Common St...ock or rights thereto, nor shall for purposes of this Plan be construed as providing for such segregation, or Awards hereunder, nor shall the Company, the Board or the Committee Administrator be deemed to be a trustee of any cash, Common Stock or rights thereto benefit to be granted under this Plan. Any liability or obligation of the Company to any Participant with respect to an -12- Award of cash, Common Stock or rights thereto under this Plan shall be based solely upon any contractual obligations that may be created by this Plan and any Award Agreement, Agreement or the terms of the Award, and no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. None of Neither the Company, Company nor the Board or nor the Committee Administrator shall be required to give any security or bond for the performance of any obligation that may be created by this Plan. With respect to this Plan and any Awards granted hereunder, Participants are general and unsecured creditors of the Company and have no rights or claims except as otherwise provided in this Plan or any applicable Award Agreement.View More
Unfunded Plan. This Plan is shall be unfunded. Although bookkeeping accounts may be established with respect to Participants who are entitled to cash, Common Stock or rights thereto under this Plan, any such accounts shall be used merely as a bookkeeping convenience. convenience, including bookkeeping accounts established by a third party administrator retained by the Company to administer the Plan. The Company shall not be required to segregate any assets that may at any time be represented by cash, Common St...ock or rights thereto, nor shall for purposes of this Plan be construed as providing for such segregation, or Awards hereunder, nor shall the Company, the Board or the Committee Administrator be deemed to be a trustee of any cash, Common Stock or rights thereto benefit to be granted under this Plan. Any liability or obligation of the Company to any Participant with respect to an Award of cash, Common Stock or rights thereto under this Plan shall be based solely upon any contractual obligations that may be created by this Plan and any Award Agreement, Agreement or the terms of the Award, and no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. None of Neither the Company, Company nor the Board or nor the Committee Administrator shall be required to give any security or bond for the performance of any obligation that may be created by this Plan. With respect to this Plan and any Awards granted hereunder, Participants are general and unsecured creditors of the Company and have no rights or claims except as otherwise provided in this Plan or any applicable Award Agreement.View More
Unfunded Plan. This Insofar as it provides for Awards, the Plan is shall be unfunded. Although bookkeeping accounts may be established with respect to Participants Awardees who are entitled to cash, Common granted Stock or rights thereto Awards under this Plan, any such accounts shall will be used merely as a bookkeeping convenience. The Company shall not be required to segregate any assets that may at any time be represented by cash, Common Stock or rights thereto, Awards, nor shall this Plan be construed as ...providing for such segregation, nor shall the Company, the Board Company or the Committee Administrator be deemed to be a trustee of any cash, Common Stock stock or rights thereto cash to be granted awarded under this the Plan. Any liability or obligation of the Company to any Participant with respect to an Award of cash, Common Stock or rights thereto under this Plan shall be based solely upon any contractual obligations that may be created by this Plan and any Award Agreement, and the Plan; no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. None of Neither the Company, Company nor the Board or the Committee Administrator shall be required to give any security or bond for the performance of any obligation that may be created by this Plan. With respect to this Plan and any Awards granted hereunder, Participants are general and unsecured creditors of the Company and have no rights or claims except as otherwise provided in this Plan or any applicable Award Agreement.View More
Unfunded Plan. This Plan is shall be unfunded. Although bookkeeping accounts may be established with respect to Participants who are entitled to cash, Common Stock or rights thereto under this Plan, any such accounts shall be used merely as a bookkeeping convenience. convenience, including bookkeeping accounts established by a third party administrator retained by the Company to administer the Plan. The Company shall not be required to segregate any assets that may at any time be represented by cash, Common St...ock or rights thereto, nor shall for purposes of this Plan be construed as providing for such segregation, or benefits hereunder, nor shall the Company, the Board or the Committee be deemed to be a trustee of any cash, Common Stock or rights thereto benefit to be granted under this Plan. Any liability or obligation of the Company to any Participant with respect to an Award of cash, Common Stock or rights thereto a benefit under this Plan shall be based solely upon any contractual obligations that may be created by this Plan and any Award Agreement, Plan, and no such liability or obligation of the Company shall be deemed to be secured by any pledge or other encumbrance on any property of the Company. None of Neither the Company, Company nor the Board or nor the Committee shall be required to give any security or bond for the performance of any obligation that may be created by this Plan. With respect to this Plan and any Awards granted hereunder, Participants are general and unsecured creditors of the Company and have no rights or claims except as otherwise provided in this Plan or any applicable Award Agreement.View More
