Unsecured Rights to Deferred Compensation. A Participant’s right to Deferred Share Units shall at all times constitute an unsecured promise of the Company to pay benefits as they come due. The right of the Participant or the Participant’s duly-authorized transferee to receive benefits hereunder shall be solely an unsecured claim against the general assets of the Company. Neither the Participant nor the Participant’s duly-authorized transferee shall have any claim against or rights in any specific assets, shares, or other funds of the Company.
Appears in 8 contracts
Samples: 2005 Stock Incentive Plan (Vapotherm Inc), Employment Agreement (Commerce Energy Group, Inc.), Stock Option Award Agreement (Commerce Energy Group, Inc.)
Unsecured Rights to Deferred Compensation. A Participant’s 's right to Deferred Share Units shall at all times constitute an unsecured promise of the Company to pay benefits as they come due. The right of the Participant or the Participant’s 's duly-authorized transferee to receive benefits hereunder shall be solely an unsecured claim against the general assets of the Company. Neither the Participant nor the Participant’s 's duly-authorized transferee shall have any claim against or rights in any specific assets, shares, or other funds of the Company.
Appears in 3 contracts
Samples: Employment Agreement (Commerce Energy Group, Inc.), Stock Option Award Agreement (Commerce Energy Group, Inc.), Restricted Share Award Agreement (Commerce Energy Group, Inc.)
