Administration Clause Example with Variations from Business Contracts

Administration. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator shall be final and binding upon the Participant, the Company, and all other interested persons. No Administrator shall be personally liable for any action,... determination, or interpretation made in good faith with respect to the Plan or this Agreement.11. Effect on Other Employee Benefit Plans. The value of the RSUs mPRSUs granted pursuant to this Agreement shall not be included as compensation, earnings, salaries, or other similar terms used when calculating the Participant's benefits under any employee benefit plan sponsored by the Company or any Related Entity, except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any of the Company's or any Related Entity's employee benefit plans.12. No Employment Rights. The award of the RSUs mPRSUs pursuant to this Agreement shall not give the Participant any right to continued Service with the Company or a Related Entity and shall not interfere with the ability of the Employer to terminate the Participant's Service with the Company at any time with or without cause.13. Nature of the Grant. In accepting the RSUs, mPRSUs, the Participant acknowledges that: (a)the Plan is established voluntarily by the Company, it is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement; (b)the grant of the RSUs mPRSUs is voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, mPRSUs, or benefits in lieu of RSUs mPRSUs even if RSUs mPRSUs have been awarded repeatedly in the past; (c)all decisions with respect to future grants of RSUs, mPRSUs, if any, will be at the sole discretion of the Company; (d)the Participant's participation in the Plan is voluntary; (e)the RSUs mPRSUs are outside the scope of the Participant's employment contract, if any; (f)the RSUs Version 5(f)the mPRSUs are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculation of any overtime, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments;(g)in the event that the Participant is not an employee of the Company, the grant of the RSUs mPRSUs will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the grant of the RSUs mPRSUs will not be interpreted to form an employment contract with the Employer or any Related Entity; (h)the future value of the underlying Shares is unknown and cannot be predicted with certainty; (i)if the Participant receives Shares upon vesting of the RSUs, mPRSUs, the value of such Shares may increase or decrease in value; (j)in consideration of the grant of the RSUs, mPRSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs mPRSUs or diminution in value of the RSUs mPRSUs or Shares received upon vesting of RSUs mPRSUs resulting from termination of the Participant's Service to the Company or the Employer (for any reason whatsoever and whether or not in breach of local labor laws) and the Participant irrevocably releases the Company and the Employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing this Agreement, the Participant shall be deemed irrevocably to have waived his or her entitlement to pursue such claim. View More

Administration. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator shall be final and binding upon the Participant, the Company, and all other interested persons. No Administrator shall be personally liable for any action,... determination, or interpretation made in good faith with respect to the Plan or this Agreement.11. Effect on Other Employee Benefit Plans. The value of the RSUs mPRSUs granted pursuant to this Agreement shall not be included as compensation, earnings, salaries, or other similar terms used when calculating the Participant's benefits under any employee benefit plan sponsored by the Company or any Related Entity, except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any of the Company's or any Related Entity's employee benefit plans.12. No Employment Rights. The award of the RSUs mPRSUs pursuant to this Agreement shall not give the Participant any right to continued Service with the Company or a Related Entity and shall not interfere with the ability of the Employer to terminate the Participant's Service with the Company at any time with or without cause.13. Nature of the Grant. In accepting the RSUs, mPRSUs, the Participant acknowledges that: (a)the Plan is established voluntarily by the Company, it is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement; (b)the grant of the RSUs mPRSUs is voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, mPRSUs, or benefits in lieu of RSUs mPRSUs even if RSUs mPRSUs have been awarded repeatedly in the past; (c)all decisions with respect to future grants of RSUs, mPRSUs, if any, will be at the sole discretion of the Company; (d)the Participant's participation in the Plan is voluntary; (e)the RSUs mPRSUs are outside the scope of the Participant's employment contract, if any; (f)the RSUs mPRSUs are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculation of any overtime, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments;(g)in payments;Version 6(g)in the event that the Participant is not an employee of the Company, the grant of the RSUs mPRSUs will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the grant of the RSUs mPRSUs will not be interpreted to form an employment contract with the Employer or any Related Entity; (h)the future value of the underlying Shares is unknown and cannot be predicted with certainty; (i)if the Participant receives Shares upon vesting of the RSUs, mPRSUs, the value of such Shares may increase or decrease in value; (j)in consideration of the grant of the RSUs, mPRSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs mPRSUs or diminution in value of the RSUs mPRSUs or Shares received upon vesting of RSUs mPRSUs resulting from termination of the Participant's Service to the Company or the Employer (for any reason whatsoever and whether or not in breach of local labor laws) and the Participant irrevocably releases the Company and the Employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing this Agreement, the Participant shall be deemed irrevocably to have waived his or her entitlement to pursue such claim. View More

Administration. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator shall be final and binding upon the Participant, the Company, and all other interested persons. No Administrator shall be personally liable for any action,... determination, or interpretation made in good faith with respect to the Plan or this Agreement.11. Effect on Other Employee Benefit Plans. The value of the RSUs mPRSUs granted pursuant to this Agreement shall not be included as compensation, earnings, salaries, or other similar terms used when calculating the Participant's benefits under any employee benefit plan sponsored by the Company or any Related Entity, except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any of the Company's or any Related Entity's employee benefit plans.12. No Employment Rights. The award of the RSUs mPRSUs pursuant to this Agreement shall not give the Participant any right to continued Service with the Company or a Related Entity and shall not interfere with the ability of the Employer to terminate the Participant's Service with the Company at any time with or without cause.13. Nature of the Grant. In accepting the RSUs, mPRSUs, the Participant acknowledges that: (a)the Plan is established voluntarily by the Company, it is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement; (b)the 12015 Stock Incentive Plan Market-Based Performance Restricted Stock Unit Award Agreement for U.S. Participants(b)the grant of the RSUs mPRSUs is voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, mPRSUs, or benefits in lieu of RSUs mPRSUs even if RSUs mPRSUs have been awarded repeatedly in the past; (c)all decisions with respect to future grants of RSUs, mPRSUs, if any, will be at the sole discretion of the Company; (d)the Participant's participation in the Plan is voluntary; (e)the RSUs mPRSUs are outside the scope of the Participant's employment contract, if any; (f)the RSUs mPRSUs are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculation of any overtime, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments;(g)in the event that the Participant is not an employee of the Company, the grant of the RSUs mPRSUs will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the grant of the RSUs mPRSUs will not be interpreted to form an employment contract with the Employer or any Related Entity; (h)the future value of the underlying Shares is unknown and cannot be predicted with certainty; (i)if the Participant receives Shares upon vesting of the RSUs, mPRSUs, the value of such Shares may increase or decrease in value; (j)in consideration of the grant of the RSUs, mPRSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs mPRSUs or diminution in value of the RSUs mPRSUs or Shares received upon vesting of RSUs mPRSUs resulting from termination of the Participant's Service to the Company or the Employer (for any reason whatsoever and whether or not in breach of local labor laws) and the Participant irrevocably releases the Company and the Employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing this Agreement, the Participant shall be deemed irrevocably to have waived his or her entitlement to pursue such claim. View More

Administration. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator shall be final and binding upon the Participant, the Company, and all other interested persons. No Administrator shall be personally liable for any action,... determination, or interpretation made in good faith with respect to the Plan or this Agreement.11. Effect on Other Employee Benefit Plans. The value of the RSUs mPRSUs granted pursuant to this Agreement shall not be included as compensation, earnings, salaries, or other similar terms used when calculating the Participant's benefits under any employee benefit plan sponsored by the Company or any Related Entity, except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any of the Company's or any Related Entity's employee benefit plans.12. No Employment Rights. The award of the RSUs mPRSUs pursuant to this Agreement shall not give the Participant any right to continued Service with the Company or a Related Entity and shall not interfere with the ability of the Employer to terminate the Participant's Service with the Company at any time with or without cause.13. Nature of the Grant. In accepting the RSUs, mPRSUs, the Participant acknowledges that: (a)the Plan is established voluntarily by the Company, it is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement; (b)the grant of the RSUs mPRSUs is voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, mPRSUs, or benefits in lieu of RSUs mPRSUs even if RSUs mPRSUs have been awarded repeatedly in the past; (c)all decisions with respect to future grants of RSUs, mPRSUs, if any, will be at the sole discretion of the Company; (d)the Participant's participation in the Plan is voluntary; (e)the RSUs mPRSUs are outside the scope of the Participant's employment contract, if any; (f)the RSUs mPRSUs are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculation of any overtime, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments;(g)in the event that the Participant is not an employee of the Company, the grant of the RSUs mPRSUs will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the grant of the RSUs mPRSUs will not be interpreted to form an employment contract with the Employer or any Related Entity; (h)the future value of the underlying Shares is unknown and cannot be predicted with certainty; (i)if the Participant receives Shares upon vesting of the RSUs, mPRSUs, the value of such Shares may increase or decrease in value; (j)in consideration of the grant of the RSUs, mPRSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs mPRSUs or diminution in value of the RSUs mPRSUs or Shares received upon vesting of RSUs mPRSUs resulting from termination of the Participant's Service to the Company or the Employer (for any reason whatsoever and whether or not in breach of local labor laws) and the Participant irrevocably releases the Company and the Employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing this Agreement, the Participant shall be deemed irrevocably to have waived his or her entitlement to pursue such claim. View More

Administration. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation, and application of the Plan as are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator shall be final and binding upon the Participant, the Company, and all other interested persons. No Administrator shall be personally liable for any action,... determination, or interpretation made in good faith with respect to the Plan or this Agreement.11. Effect on Other Employee Benefit Plans. The value of the RSUs mPRSUs granted pursuant to this Agreement shall not be included as compensation, earnings, salaries, or other similar terms used when calculating the Participant's benefits under any employee benefit plan sponsored by the Company or any Related Entity, except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any of the Company's or any Related Entity's employee benefit plans.12. No Employment Rights. The award of the RSUs mPRSUs pursuant to this Agreement shall not give the Participant any right to continued Service with the Company or a Related Entity and shall not interfere with the ability of the Employer to terminate the Participant's Service with the Company at any time with or without cause.13. Nature of the Grant. In accepting the RSUs, mPRSUs, the Participant acknowledges that: (a)the Plan is established voluntarily by the Company, it is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement; (b)the grant of the RSUs mPRSUs is voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, mPRSUs, or benefits in lieu of RSUs mPRSUs even if RSUs mPRSUs have been awarded repeatedly in the past; (c)all decisions with respect to future grants of RSUs, mPRSUs, if any, will be at the sole discretion of the Company; (d)the Participant's participation in the Plan is voluntary; (e)the RSUs mPRSUs are outside the scope of the Participant's employment contract, if any; (f)the RSUs Page 6 Version 2 (Aug 2016)2015 Stock Incentive Plan Market-Based Performance Restricted Stock Unit Award Agreement for U.S. Participants(f)the mPRSUs are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculation of any overtime, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments;(g)in the event that the Participant is not an employee of the Company, the grant of the RSUs mPRSUs will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the grant of the RSUs mPRSUs will not be interpreted to form an employment contract with the Employer or any Related Entity; (h)the future value of the underlying Shares is unknown and cannot be predicted with certainty; (i)if the Participant receives Shares upon vesting of the RSUs, mPRSUs, the value of such Shares may increase or decrease in value; (j)in consideration of the grant of the RSUs, mPRSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs mPRSUs or diminution in value of the RSUs mPRSUs or Shares received upon vesting of RSUs mPRSUs resulting from termination of the Participant's Service to the Company or the Employer (for any reason whatsoever and whether or not in breach of local labor laws) and the Participant irrevocably releases the Company and the Employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing this Agreement, the Participant shall be deemed irrevocably to have waived his or her entitlement to pursue such claim. View More