ADDITIONAL TERMS OF SETTLEMENT. The value of any fractional TSR Outperformance RSUs will be rounded down at the time Stock is issued to you in connection with the TSR Outperformance RSUs. No fractional shares of Stock, nor the cash value of any fractional shares of Stock, will be issuable or payable to you pursuant to this Agreement. The value of such shares of Stock or cash payable pursuant to this Section 5 will not bear any interest owing to the passage of time. Neither this Section 5 nor any action taken pursuant to or in accordance with this Section 5 will be construed to create a trust or a funded or secured obligation of any kind.
Appears in 2 contracts
Sources: TSR Outperformance Restricted Stock Unit Agreement (Energy XXI LTD), TSR Outperformance Restricted Stock Unit Agreement (Energy XXI LTD)