Unfunded Benefit. The Award shall not be deemed to create a trust or other funded arrangement. The Grantee’s rights with respect to the Award shall be those of a general unsecured creditor of the Company, and under no circumstances shall the Grantee have any other interest in any asset of the Company by virtue of the grant of the Award. Notwithstanding the foregoing, the Company shall have the right (but not the obligation) to implement or set aside funds in a grantor trust, subject to the claims of the Company’s creditors or otherwise, to discharge its obligations with respect to the Award.
Appears in 3 contracts
Samples: Commercial Vehicle Group, Inc., Commercial Vehicle Group, Inc., Commercial Vehicle Group, Inc.
Unfunded Benefit. The Award shall not be deemed to create a trust or other funded arrangement. The Grantee’s rights with respect to the Award shall be those of a general unsecured creditor of the Company, and under no circumstances shall the Grantee have any other interest in any asset of the Company by US_Active\117765821\V-1 virtue of the grant of the Award. Notwithstanding the foregoing, the Company shall have the right (but not the obligation) to implement or set aside funds in a grantor trust, subject to the claims of the Company’s creditors or otherwise, to discharge its obligations with respect to the Award.
Appears in 2 contracts
Samples: Incentive Plan Performance Share Award Agreement (Commercial Vehicle Group, Inc.), Incentive Plan Performance Share Award Agreement (Commercial Vehicle Group, Inc.)
Unfunded Benefit. The Award shall not be deemed to create a trust or other funded arrangement. The Grantee’s 's rights with respect to the Award shall be those of a general unsecured creditor of the Company, and under no circumstances shall the Grantee have any other interest in any asset of the Company by virtue of the grant of the Award. Notwithstanding the foregoing, the Company shall have the right (but not the obligation) to implement or set aside funds in a grantor trust, subject to the claims of the Company’s 's creditors or otherwise, to discharge its obligations with respect to the Award.
Appears in 2 contracts
Samples: Performance Award (Express, Inc.), Performance Award (Express, Inc.)
Unfunded Benefit. The Award shall not be deemed to create a trust or other funded arrangement. The Grantee’s rights with respect to the Award shall be those of a general unsecured creditor of the Company, and under no circumstances shall the Grantee have any other interest in any asset of the Company by virtue of the grant of the Award. Notwithstanding the foregoing, the Company shall have the right (but US_Active\117746226\V-1 not the obligation) to implement or set aside funds in a grantor trust, subject to the claims of the Company’s creditors or otherwise, to discharge its obligations with respect to the Award.
Appears in 1 contract
Samples: Incentive Plan Performance Share Award Agreement (Commercial Vehicle Group, Inc.)
