Common use of Company’s Obligation to Pay Clause in Contracts

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is granted. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 5, the Employee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment of any vested Performance Shares shall be made in whole Shares only.

Appears in 24 contracts

Samples: Performance Share Agreement (Polycom Inc), Performance Share Agreement (Polycom Inc), Performance Share Agreement (Polycom Inc)

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Company’s Obligation to Pay. Each Performance Share has a value equal represents an unfunded promise by the Company to issue one share of the Fair Market Value of a Share Company’s Common Stock, subject to certain restrictions and on the date that the Performance Share is grantedterms and conditions contained in this Agreement. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 5or 4, the Employee will have no right to the payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment of any vested Performance Shares shall be made in whole Shares only.

Appears in 6 contracts

Samples: Share Agreement (Echelon Corp), Performance Share Agreement (Echelon Corp), Performance Share Agreement (Echelon Corp)

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is granted. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 5and 4, the Employee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment of any vested Performance Shares shall be made in whole Shares shares of the Company’s common stock (“Shares”) only.

Appears in 5 contracts

Samples: Performance Share Agreement (Planar Systems Inc), Performance Share Agreement (Planar Systems Inc), Performance Share Agreement (Planar Systems Inc)

Company’s Obligation to Pay. Each On any date, a Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedone Share. Unless and until the a Performance Shares have Share has vested in accordance with the manner vesting schedule set forth in paragraphs 3 through 5on the first page of this Agreement, the Employee will have no right to payment of such a Share with respect to the Performance SharesShare. Prior to actual payment of any Shares pursuant to vested Performance Shares, such each Performance Shares will represent Share represents an unsecured obligation. Payment obligation of any vested Performance Shares shall be made in whole Shares onlythe Company, payable (if at all) only from the general assets of the Company.

Appears in 5 contracts

Samples: www.sec.gov, Gap Inc, Gap Inc

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is granted. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 5, the Employee will shall have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will shall represent an unsecured obligation. Payment of any vested Performance Shares shall be made in whole Shares only.

Appears in 4 contracts

Samples: Performance Share Agreement (Polycom Inc), Performance Share Agreement (Polycom Inc), Performance Share Agreement (Polycom Inc)

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedof grant. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 5or 4, the Employee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment of any vested Performance Shares shall be made in whole Shares only.

Appears in 4 contracts

Samples: Performance Share Agreement (Echelon Corp), Performance Share Agreement (Echelon Corp), Performance Share Agreement (Echelon Corp)

Company’s Obligation to Pay. Each Performance Share has represents a value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedit becomes vested. Unless and until the Performance Shares will have vested in the manner set forth in paragraphs 3 through 5Sections 2 and 4, the Employee Grantee will have no right to payment of any such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment obligation of any vested Performance Shares shall be made in whole Shares onlythe Company, payable (if at all) only from the general assets of the Company.

Appears in 3 contracts

Samples: Performance Share Agreement (Maxim Integrated Products Inc), Performance Share Agreement (Maxim Integrated Products Inc), Performance Share Agreement (Maxim Integrated Products Inc)

Company’s Obligation to Pay. Each Performance Share has a an initial value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedof grant. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 4 or 5, the Employee Grantee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligationobligation of the Company. Payment of any vested Performance Shares shall will be made in whole Shares onlyShares.

Appears in 2 contracts

Samples: Performance Share Agreement (Palm Inc), Performance Share Agreement (Palm Inc)

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is granted. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 5, the Employee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligationobligation of the Company. Payment of any vested Performance Shares shall be made in whole Shares only.

Appears in 2 contracts

Samples: Performance Share Agreement (Polycom Inc), Performance Share Agreement (Polycom Inc)

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedof grant. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 5and 4, the Employee Grantee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment of any vested Performance Shares shall will be made in whole Shares only.

Appears in 2 contracts

Samples: Performance Shares Agreement (Applied Materials Inc /De), Performance Shares Agreement (Applied Materials Inc /De)

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedof grant. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 5, or paragraph 11, the Employee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment of any vested Performance Shares shall will be made in whole Shares only.

Appears in 1 contract

Samples: Performance Share Agreement (Applied Materials Inc /De)

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedof grant. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 5, the Employee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment of any vested Performance Shares shall be made in whole Shares only.

Appears in 1 contract

Samples: Performance Share Agreement (Applied Materials Inc /De)

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedof grant. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 5, or paragraph 11, the Employee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment of any vested Performance Shares shall be made in whole Shares only.

Appears in 1 contract

Samples: Performance Shares Agreement (Applied Materials Inc /De)

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Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedof this Agreement. Unless and until the Performance Shares will have vested in the manner set forth in paragraphs 3 through 5and 4, the Employee will have no right to payment of any such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment obligation of any vested Performance Shares shall be made in whole Shares onlythe Company, payable (if at all) only from the general assets of the Company.

Appears in 1 contract

Samples: Performance Share Agreement (Pmi Group Inc)

Company’s Obligation to Pay. Each Performance Share has represents a value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedit becomes vested. Unless and until the Performance Shares will have vested in the manner set forth in paragraphs 3 through 5Sections 2 and 3, the Employee Grantee will have no right to payment of any such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment obligation of any vested Performance Shares shall be made in whole Shares onlythe Company, payable (if at all) only from the general assets of the Company.

Appears in 1 contract

Samples: Performance Share Agreement (Maxim Integrated Products Inc)

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedof grant. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 4 or 5, the Employee Grantee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligationobligation of the Company. Payment of any vested Performance Shares shall will be made in whole Shares onlyShares.

Appears in 1 contract

Samples: 2004 Stock Plan Performance Share Agreement (Taleo Corp)

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedof grant. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 5, the Employee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment of any vested Performance Shares shall be made in whole Shares only.

Appears in 1 contract

Samples: Performance Share Agreement (Applied Materials Inc /De)

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedGrant Date. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 3, 4 or 5, the Employee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligationobligation of the Company, payable (if at all) only from the general assets of the Company. Payment of any vested Performance Shares shall be made in whole Shares only.

Appears in 1 contract

Samples: Performance Share Agreement (Pixar \Ca\)

Company’s Obligation to Pay. Each Performance Share has a value equal to the Fair Market Value of a Share on the date that of grant and represents the Performance right to receive a Share is grantedon the vesting date (or such later time indicated in this Agreement). Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 53, 5 or 12, the Employee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligation. Payment of any vested Performance Shares shall be made in whole Shares only.

Appears in 1 contract

Samples: Performance Share Agreement (Echelon Corp)

Company’s Obligation to Pay. Each Performance Share has a an initial value equal to the Fair Market Value of a Share on the date that the Performance Share is grantedof grant. Unless and until the Performance Shares have vested in the manner set forth in paragraphs 3 through 4, 5, 6 or 10, the Employee Grantee will have no right to payment of such Performance Shares. Prior to actual payment of any vested Performance Shares, such Performance Shares will represent an unsecured obligationobligation of the Company. Payment of any vested Performance Shares shall will be made in whole Shares onlyShares.

Appears in 1 contract

Samples: Performance Share Agreement (Palm Inc)

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