Limitation on Rights No Right to Future Grants Extraordinary Item of Compensation Clause Example from Business Contracts

This example Limitation on Rights No Right to Future Grants Extraordinary Item of Compensation clause appears in 11 contracts from 1 company

Limitation on Rights No Right to Future Grants Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Option evidenced hereby, the Optionee 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 the Option is a one-time benefit that does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (c) all determinations with respect to future option grants, if any, including the grant date, the number of Sh...ares granted, the exercise price and the exercise date or dates, will be at the sole discretion of the Company; (d) the Optionee's participation in the Plan is voluntary; (e) the value of the Option is an extraordinary item of compensation that is outside the scope of the Optionee's employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (f) Options 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 Optionee waives any claim on such basis; and (g) the future value of the underlying Shares is unknown and cannot be predicted with certainty. In addition, the Optionee understands, acknowledges and agrees that the Optionee will have no rights to compensation or damages related to option proceeds in consequence of the termination of the Optionee's employment for any reason whatsoever and whether or not in breach of contract. View More

Found in L3 TECHNOLOGIES, INC. contract

L3 TECHNOLOGIES, INC. Contracts

Form of L3 Technologies, Inc. 2008 Long Term Performance Plan Nonqualified Stock Option Agreement (2018 Version) (Filed With SEC on May 1, 2018)

Form of L3 Technologies, Inc. 2008 Long Term Performance Plan Nonqualified Stock Option Agreement (2018 CEO Version) (Filed With SEC on May 1, 2018)

L-3 COMMUNICATIONS HOLDINGS, INC. 2008 LONG TERM PERFORMANCE PLAN NONQUALIFIED STOCK OPTION AGREEMENT (Version CEO 2016) (Filed With SEC on April 27, 2016)

L-3 COMMUNICATIONS HOLDINGS, INC. 2008 LONG TERM PERFORMANCE PLAN NONQUALIFIED STOCK OPTION AGREEMENT (Version CEO 2014) (Filed With SEC on October 10, 2014)

L-3 COMMUNICATIONS HOLDINGS, INC. 2008 LONG TERM PERFORMANCE PLAN NONQUALIFIED STOCK OPTION AGREEMENT (Version 0007) (Filed With SEC on May 1, 2014)

L-3 COMMUNICATIONS HOLDINGS, INC. 2008 LONG TERM PERFORMANCE PLAN NONQUALIFIED STOCK OPTION AGREEMENT (Version CEO 2014) (Filed With SEC on May 1, 2014)

L-3 COMMUNICATIONS HOLDINGS, INC. 2008 LONG TERM PERFORMANCE PLAN NONQUALIFIED STOCK OPTION AGREEMENT (Version CEO 2015) (Filed With SEC on April 30, 2015)

L3 TECHNOLOGIES, INC. AMENDED AND RESTATED 2008 LONG TERM PERFORMANCE PLAN NONQUALIFIED STOCK OPTION AGREEMENT (Version 0009) (Filed With SEC on April 27, 2017)

L3 TECHNOLOGIES, INC. AMENDED AND RESTATED 2008 LONG TERM PERFORMANCE PLAN NONQUALIFIED STOCK OPTION AGREEMENT (Version CEO 2017) (Filed With SEC on April 27, 2017)

L-3 COMMUNICATIONS HOLDINGS, INC. 2008 LONG TERM PERFORMANCE PLAN NONQUALIFIED STOCK OPTION AGREEMENT (Version CEO 2011 and 2012) (Filed With SEC on February 27, 2013)