PSUs. Each PSU that is earned and becomes vested on an applicable Measurement Date shall represent the right to receive payment, in accordance with Section 7 below, of one (1) share of Stock. Unless and until a PSU is earned and vests, the Participant will have no right to payment in respect of any such PSU. Prior to actual payment in respect of any earned and vested PSU, such PSU will represent an unsecured obligation of the Company, payable (if at all) only from the general assets of the Company.
Appears in 2 contracts
Sources: Inducement Total Shareholder Return Performance Share Award (Rentech Nitrogen Partners, L.P.), Inducement Total Shareholder Return Performance Share Award (Rentech, Inc.)