Limitation on Rights No Right to Future Grants Extraordinary Item of Compensation Clause Example with 5 Variations from Business Contracts
This page contains Limitation on Rights No Right to Future Grants Extraordinary Item of Compensation clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Limitation on Rights No Right to Future Grants Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Shares contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) the grant of Performance Shares is a one-time benefit that does not create any contractual or other right to receive future grants of Performance Shares, or benefits in lieu of Performance Shares; (c) all determinations with respect to future grants of Perf...ormance Shares, if any, including the grant date, the number of Shares granted and the applicable vesting terms, will be at the sole discretion of the Company; (d) the Participant's participation in the Plan is voluntary; (e) the value of the Performance Shares is an extraordinary item of compensation that is outside the scope of the Participant's employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (f) grants of Performance Shares are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, the Participant waives any claim on such basis, and, for the avoidance of doubt, the Performance Shares shall not constitute an "acquired right" under the applicable law of any jurisdiction; and (g) the future value of the underlying Shares is unknown and cannot be predicted with certainty. In addition, the Participant understands, acknowledges and agrees that the Participant will have no rights to compensation or damages related to Performance Share proceeds in consequence of the termination of the Participant's employment for any reason whatsoever and whether or not in breach of contract.View More
Variations of a "Limitation on Rights No Right to Future Grants Extraordinary Item of Compensation" Clause from Business Contracts
Limitation on Rights No Right to Future Grants Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Shares Units contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) the grant of Performance Shares Units is a one-time benefit that does not create any contractual or other right to receive future grants of Performance Shares, performance units, or benefits in lieu of Performance Shares; (c) performance units; (b) al...l determinations with respect to future grants of Performance Shares, Units, if any, including the grant date, the number of Shares Performance Units granted and the applicable vesting terms, performance period, will be at the sole discretion of the Company; (d) Corporation; (c) the Participant's participation in the Plan acknowledgment and acceptance of this Agreement is voluntary; (e) (d) the value of the Performance Shares Units is an extraordinary item of compensation that is outside the scope of the Participant's employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (f) (e) grants of Performance Shares performance units are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis, and, for the avoidance of doubt, the Performance Shares shall not constitute an "acquired right" under the applicable law of any jurisdiction; and (g) basis; (f) the future value of the underlying Shares Performance Units is unknown and unknown, cannot be predicted with certainty. certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any time. In addition, the Participant understands, acknowledges and agrees that except as expressly provided hereunder, the Participant will have no rights to compensation or damages related to Performance Share Unit proceeds in consequence of the termination of the Participant's employment for any reason whatsoever and whether or not in breach of contract. 8 22. Book Entry Delivery of Award Shares. Whenever reference in this Agreement is made to the issuance or delivery of Award Shares, the Corporation may elect to issue or deliver such shares in book entry form in lieu of certificates. View More
Limitation on Rights No Right to Future Grants Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Shares Units contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) the grant of Performance Shares Units is a one-time benefit that does not create any contractual or other right to receive future grants of Performance Shares, performance units, or benefits in lieu of Performance Shares; (c) performance units; (b) al...l determinations with respect to future grants of Performance Shares, Units, if any, including the grant date, the number of Shares Performance Units granted and the applicable vesting terms, performance period, will be at the sole discretion of the Company; (d) Corporation; (c) the Participant's participation in the Plan acknowledgment and acceptance of this Agreement is voluntary; (e) (d) the value of the Performance Shares Units is an extraordinary item of compensation that is outside the scope of the Participant's employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (f) (e) grants of Performance Shares performance units are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis, and, for the avoidance of doubt, the Performance Shares shall not constitute an "acquired right" under the applicable law of any jurisdiction; and (g) basis; (f) the future value of the underlying Shares Performance Units is unknown and unknown, cannot be predicted with certainty. certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any time. In addition, the Participant understands, acknowledges and agrees that except as expressly provided hereunder, the Participant will have no rights to compensation or damages related to Performance Share Unit proceeds in consequence of the termination of the Participant's employment for any reason whatsoever and whether or not in breach of contract. View More
Limitation on Rights No Right to Future Grants Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Shares Units contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company Corporation at any time; (b) the grant of Performance Shares Units is a one-time benefit that does not create any contractual or other right to receive future grants of Performance Shares, Units, or benefits in lieu of Performance Shares; Units; (c) all determinations... with respect to future grants of Performance Shares, Units, if any, including the grant date, the number of Shares shares of Stock granted and the applicable vesting terms, restricted period, will be at the sole discretion of the Company; Corporation; (d) the Participant's participation in the Plan is voluntary; (e) the value of the Performance Shares Units is an extraordinary item of compensation that is outside the scope of the Participant's employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (f) grants of Performance Shares Units are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis, and, for the avoidance of doubt, the Performance Shares shall not constitute an "acquired right" under the applicable law of any jurisdiction; basis; and (g) the future value of the underlying Shares Stock is unknown and cannot be predicted with certainty. In addition, except for the rights and benefits expressly provided herein, the Participant understands, acknowledges and agrees that the Participant will have no rights to compensation 6 or damages related to the Performance Share proceeds Units in consequence of the termination of the Participant's employment for any reason whatsoever and whether or not in breach of contract. View More
Limitation on Rights No Right to Future Grants Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Shares Units contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company Corporation at any time; (b) the grant of Performance Shares Units is a one-time benefit that does not create any contractual or other right to receive future grants of Performance Shares, Units, or benefits in lieu of Performance Shares; Units; (c) all determinations... with respect to future grants of Performance Shares, Units, if any, including the grant date, the number of Shares shares of Stock granted and the applicable vesting terms, restricted period, will be at the sole discretion of the Company; Corporation; (d) the Participant's participation in the Plan is voluntary; (e) the value of the Performance Shares Units is an extraordinary item of compensation that is outside the scope of the Participant's employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (f) grants of Performance Shares Units are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis, and, for the avoidance of doubt, the Performance Shares shall not constitute an "acquired right" under the applicable law of any jurisdiction; basis; and (g) the future value of the underlying Shares Stock is unknown and cannot be predicted with certainty. In addition, except for the rights and benefits expressly provided herein, the Participant understands, acknowledges and agrees that the Participant will have no rights to compensation or damages related to the Performance Share proceeds Units in consequence of the termination of the Participant's employment for any reason whatsoever and whether or not in breach of contract. View More
Limitation on Rights No Right to Future Grants Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Shares contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is established voluntarily by the Company, it is discretionary in nature and may be suspended or terminated by the Company at any time; time, to the extent permitted by the Plan; (b) the grant of Performance Shares is a one-time benefit that exceptional, voluntary and occasional and does not create any contractual or other right to receive future gr...ants of Performance Shares, or benefits in lieu of Performance Shares; Shares, even if Performance Shares have been granted in the past; (c) all determinations with respect to future grants of Performance Shares, if any, including the grant date, the number of Shares granted and the applicable vesting terms, will be at the sole discretion of the Company; (d) the Participant's participation in the Plan is voluntary; (e) the value of the Performance Shares is an extraordinary item of compensation that is outside the scope of the Participant's employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (f) grants of Performance Shares Shares, and the income and value of same, are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, the Participant waives any claim on such basis, and, and for the avoidance of doubt, the Performance Shares shall not constitute an "acquired right" under the applicable law of any jurisdiction; and (g) the future value of the underlying Shares is unknown and cannot be predicted with certainty. In addition, the Participant understands, acknowledges and agrees that the Participant will have no rights to compensation or damages related to Performance Share proceeds in consequence of the termination of the Participant's employment for any reason whatsoever and whether or not in breach of contract. contract.19.Award Administrator. The Company may from time to time designate a third party (an "Award Administrator") to assist the Company in the implementation, administration and management of the Plan and any Performance Shares granted thereunder, including by sending award notices on behalf of the Company to Participants, and by facilitating through electronic means acceptance of Performance Restricted Share Agreements by Participants. View More
