Unsecured Promise to Pay. The Company’s obligation under the Plan and this Agreement is an unsecured and unfunded promise to pay benefits that may be earned in the future. The Company shall have no obligation to set aside, earmark or invest any fund or money with which to pay its obligations under this Agreement. The Employee or any successor in interest shall be and remain a general creditor of the Company in the same manner as any other creditor having a general claim for matured and unpaid compensation.
Appears in 13 contracts
Samples: Restricted Stock Unit Award Agreement (Helix Energy Solutions Group Inc), Performance Share Unit Award Agreement (Helix Energy Solutions Group Inc), Performance Share Unit Award Agreement (Helix Energy Solutions Group Inc)
Unsecured Promise to Pay. The Company’s 's obligation under the Plan and this Agreement is an unsecured and unfunded promise to pay benefits that may be earned in the future. The Company shall have no obligation to set aside, earmark or invest any fund or money with which to pay its obligations under this Agreement. The Employee or any successor in interest shall be and remain a general creditor of the Company in the same manner as any other creditor having a general claim for matured and unpaid compensation.
Appears in 1 contract
Samples: Performance Share Unit Award Agreement (Cal Dive International, Inc.)
