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

Company’s Obligation to Pay. Unless and until the Restricted Stock Units have vested in the manner set forth in Sections 3 through 5, the Employee will have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation. Payment of any vested Restricted Stock Units shall be made in whole shares of the Company’s common stock (“Shares”) only.

Appears in 5 contracts

Samples: Restricted Stock Unit Agreement (Northwest Pipe Co), Restricted Stock Unit Agreement (Northwest Pipe Co), Restricted Stock Unit Agreement (Northwest Pipe Co)

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

Appears in 4 contracts

Samples: Restricted Stock Unit (Polycom Inc), Restricted Stock Unit (Polycom Inc), Restricted Stock Unit (Polycom Inc)

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

Appears in 3 contracts

Samples: Restricted Stock Unit Agreement (Polycom Inc), Restricted Stock Unit Agreement (Polycom Inc), Restricted Stock Unit Agreement (Polycom Inc)

Company’s Obligation to Pay. Unless and until the Restricted Stock Units have vested in the manner set forth in Sections 3 through 5and 4, the Employee will have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation. Payment of any vested Restricted Stock Units shall be made in whole shares of the Company’s common stock (“Shares”) only.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Northwest Pipe Co), Restricted Stock Unit Agreement (Cascade Microtech Inc)

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

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Polycom Inc), Restricted Stock Unit Agreement (Polycom Inc)

Company’s Obligation to Pay. Unless and until the Restricted Stock Units have vested in the manner set forth in Sections 3 2.3 through 52.5, the Employee will have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation. Payment of any vested Restricted Stock Units shall be made only in whole shares of the Company’s common stock (“Shares”) only.

Appears in 1 contract

Samples: Separation Agreement (Northwest Pipe Co)

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Company’s Obligation to Pay. Unless and until the Restricted Stock Units have vested in the manner set forth in Sections 3 through paragraphs 4 or 5, the Employee Grantee will have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligationobligation of the Company. Payment of any vested Restricted Stock Units shall be made in whole shares of the Company’s common stock (“Shares”) Shares only.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Occam Networks Inc/De)

Company’s Obligation to Pay. Unless and until the Restricted Stock Units have vested in the manner set forth in Sections 3 through paragraphs 3, 4 or 5, the Employee will have no right to payment of such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation. Payment of any vested Restricted Stock Units shall be made in whole shares of the Company’s common stock (“Shares”) Shares only.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Carrier Access Corp)

Company’s Obligation to Pay. Unless and until the Restricted Stock Units will have vested in the manner set forth in Sections the related Restricted Stock Unit Notice of Grant, paragraph 3 through 5below or the express terms of the Plan, the Employee Participant will have no right to payment of with respect to any such Restricted Stock Units. Prior to actual payment of with respect to any vested Restricted Stock Units, such Restricted Stock Units will represent an unsecured obligation. Payment of any vested Restricted Stock Units shall be made in whole shares obligation of the Company’s common stock , payable (“Shares”if at all) onlyonly from the general assets of the Company.

Appears in 1 contract

Samples: Separation Agreement and Release (Ocz Technology Group Inc)

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