Grouped Into 2 Collections of Similar Clauses From Business Contracts
This page contains Nature of Option clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Nature of Option. In accepting the Option, Optionee acknowledges and agrees that: (a) the award of the Option is voluntary and occasional and does not create any contractual or other right to receive future grants of options, benefits in lieu of options or other equity awards, even if options have been granted repeatedly in the past;(b) all decisions with respect to future equity awards, if any, shall be at the sole discretion of the Company;(c) Optionee's participation in the Plan is voluntary;(d) the Option, an...d the income and value of same, is an extraordinary item that (i) does not constitute compensation of any kind for services of any kind rendered to the Company or any Subsidiary, and (ii) is outside the scope of Optionee's employment or service contract, if any;(e) the Option, and the income and value of same, is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or any Subsidiary;(f) unless otherwise agreed with the Company, the Option, and the income and value of same, are not granted as consideration for, or in connection with, any service Optionee may provide as a director of any Subsidiary;(g) the Option and Optionee's participation in the Plan shall not be interpreted to form an employment or service contract with the Company or any Subsidiary of the Company;(h) the future value of the underlying Shares is unknown and cannot be predicted with certainty;(i) if the Shares do not increase in value, the Option will have no value;(j) if Optionee exercises the Option and obtains Shares, the value of the Shares obtained upon exercise may increase or decrease in value, even below the Exercise Price;(k) in consideration of the award of the Option, no claim or entitlement to compensation or damages shall arise from termination of the Option or diminution in value of the Option, or Shares purchased through the exercise of the Option, resulting from termination of Optionee's employment or continuous service by the Company or any Subsidiary (for any reason whatsoever and whether or not in breach of applicable labor laws of the jurisdiction where Optionee is employed or the terms of Optionee's employment agreement, if any, and whether or not later found to be invalid) and in consideration of the grant of the Option, Optionee irrevocably releases the Company and any Subsidiary 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/electronically accepting the Agreement, Optionee shall be deemed irrevocably to have waived Optionee's entitlement to pursue or seek remedy for any such claim;(l) the Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Optionee's participation in the Plan or Optionee's acquisition or sale of the underlying Shares; and(m) Optionee is hereby advised to consult with Optionee's own personal tax, legal and financial advisors regarding Optionee's participation in the Plan before taking any action related to the Plan.19. Language. If Optionee has received this Agreement, the Plan or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control, unless otherwise prescribed by applicable law.View More
Nature of Option. In accepting the Option, Optionee acknowledges and agrees that: (a) 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, to the extent permitted by the Plan;(b) the award of the Option is exceptional, voluntary and occasional and does not create any contractual or other right to receive future grants of options, options or benefits in lieu of options or other equity awards, opt...ions, even if options have been granted repeatedly in the past;(b) past;(c) all decisions with respect to future equity awards, if any, shall be at the sole discretion of the Company;(c) Company;(d) Optionee's participation in the Plan is voluntary;(d) voluntary;(e) the Option, Option and any Shares acquired under the Plan, and the income and value of same, is an extraordinary item that (i) does not constitute compensation of any kind for services of any kind rendered to the Company or any Subsidiary, and (ii) is outside the scope of Optionee's employment or service contract, if any;(e) the Option, and the income and value of same, is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or any Subsidiary;(f) unless otherwise agreed with the Company, the Option, and the income from and value of same, are not granted as consideration for, intended to replace or in connection with, supplement any service Optionee may provide as a director of any Subsidiary;(g) the Option and Optionee's participation in the Plan shall not be interpreted to form an employment pension rights or service contract with the Company or any Subsidiary of the Company;(h) compensation;(f) the future value of the underlying Shares is unknown and cannot be predicted with certainty;(i) certainty, and if the Shares do not increase in value, the Option will have no value;(j) value;(g) if Optionee exercises the Option and obtains Shares, the value of the Shares obtained upon exercise may increase or decrease in value, even below the Exercise Price;(k) Price;(h) in consideration of the award of the Option, no claim or entitlement to compensation or damages shall arise from termination of the Option or diminution in value of the Option, or Shares purchased through the exercise of the Option, resulting from termination of Optionee's employment or continuous service by the Company or any Subsidiary (for any reason whatsoever and whether or not in breach of applicable labor laws of the jurisdiction where Optionee is employed or the terms of Optionee's employment agreement, if any, and whether or not later found to be invalid) applicable jurisdiction) and in consideration of the grant of the Option, Optionee irrevocably releases the Company and any Subsidiary 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/electronically accepting the Agreement, Optionee shall be deemed irrevocably to have irrevocably waived the Optionee's entitlement to pursue or seek remedy for any such claim;(l) claim;(i) the Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Optionee's participation in the Plan or Optionee's acquisition or sale of the underlying Shares; and(m) Shares;(j) Optionee is hereby advised to should consult with Optionee's own personal tax, legal and financial advisors regarding Optionee's participation in the Plan before taking any action related to the Plan.19. Language. If Optionee has received this Agreement, Plan; and(k) neither the Plan or Company nor any other document related Eligible Subsidiary shall be liable for any foreign exchange rate fluctuation between the Optionee's local currency and the U.S. Dollar that may affect the value of the Option or of any amounts due to the Plan translated into a language other than English and if Optionee pursuant to the meaning exercise of the translated version is different than Option or the English version, the English version will control, unless otherwise prescribed by applicable law. subsequent sale of any Shares acquired upon exercise. View More
Nature of Option. In accepting the Option, Optionee acknowledges and agrees that: (a) 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, to the extent permitted by the Plan;(b)the award of the Option is exceptional, voluntary and occasional and does not create any contractual or other right to receive future grants of options, or benefits in lieu of options or other equity awards, options, eve...n if options have been granted repeatedly in the past;(b) all past;(c)all decisions with respect to future equity awards, if any, shall be at the sole discretion of the Company;(c) Company;(d)the Optionee's participation in the Plan is voluntary;(d) the voluntary;(e)the Option, and the income and value of same, is an extraordinary item that (i) does not constitute compensation of any kind for services of any kind rendered to the Company or any Subsidiary, and (ii) is outside the scope of the Optionee's employment or service contract, if any;(e) the any;(f)the Option, and the income and value of same, is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, holiday pay, long-service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or any Subsidiary;(f) unless Subsidiary;(g)the Option and any Shares acquired under the Plan, and the income from and value of same, are not intended to replace or supplement any pension rights or compensation(h)unless otherwise agreed with the Company, the Option, and the income from and value of same, are not granted as consideration for, or in connection with, any service the Optionee may provide as a director of any Subsidiary;(g) the Option and Optionee's participation in the Plan shall not be interpreted to form an employment or service contract with the Company or any Subsidiary of the Company;(h) the Subsidiary;(i)the future value of the underlying Shares is unknown and cannot be predicted with certainty;(i) if certainty;(j)if the Shares do not increase in value, the Option will have no value;(j) if value; 10 (k)if the Optionee exercises the Option and obtains Shares, the value of the Shares obtained upon exercise may increase or decrease in value, even below the Exercise Price;(k) in Price;(l)in consideration of the award of the Option, no claim or entitlement to compensation or damages shall arise from termination of the Option or diminution in value of the Option, or Shares purchased through the exercise of the Option, resulting from termination of the Optionee's employment or continuous service by with the Company or any Subsidiary (for any reason whatsoever and whatsoever, whether or not later found to be invalid or in breach of applicable labor laws of the jurisdiction where the Optionee is employed or the terms of the Optionee's employment agreement, if any, and whether or not later found to be invalid) any), and in consideration of the grant of the Option, Options, the Optionee irrevocably releases agrees not to institute any claim against the Company and or any Subsidiary from any such claim that may arise; Subsidiary; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing/electronically accepting the this Agreement, Optionee shall be deemed irrevocably to have irrevocably waived the Optionee's entitlement to pursue or seek remedy for any such claim;(l) claim; and(m) neither the Company Company, the Employer nor any other Eligible Subsidiary shall be liable for any foreign exchange rate fluctuation between the Optionee's local currency and the U.S. Dollar that may affect the value of the Option or of any amounts due to the Optionee pursuant to the exercise of the Option or the subsequent sale of any Shares acquired upon exercise.19. Language. The Optionee acknowledges that he or she is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Optionee's participation proficient in the Plan or Optionee's acquisition or sale English language and understands the terms of this Agreement. If the underlying Shares; and(m) Optionee is hereby advised to consult with Optionee's own personal tax, legal and financial advisors regarding Optionee's participation in the Plan before taking any action related to the Plan.19. Language. If Optionee has received the Plan, this Agreement, the Plan or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control, unless otherwise prescribed by applicable law. View More
Nature of Option. In accepting the Option, Optionee acknowledges and agrees that: (a) the award of the Option is voluntary and occasional and does not create any contractual or other right to receive future grants of options, benefits in lieu of options or other equity awards, even if options have been granted repeatedly in the past;(b) all decisions with respect to future equity awards, if any, shall be at the sole discretion of the Company;(c) Optionee's participation in the Plan is voluntary;(d) the Option, an...d the income and value of same, is an extraordinary item that (i) does not constitute compensation of any kind for services of any kind rendered to the Company or any Subsidiary, and (ii) is outside the scope of Optionee's employment or service contract, if any;(e) the Option, and the income and value of same, is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or any Subsidiary;(f) unless otherwise agreed with the Company, the Option, and the income and value of same, are not granted as consideration for, or in connection with, any service Optionee may provide as a director of any Subsidiary;(g) the Option and Optionee's participation in the Plan shall not be interpreted to form an employment or service contract with the Company or any Subsidiary of the Company;(h) the future value of the underlying Shares is unknown and cannot be predicted with certainty;(i) certainty, and if the Shares do not increase in value, the Option will have no value;(j) value;(e) if Optionee exercises the Option and obtains Shares, the value of the Shares obtained upon exercise may increase or decrease in value, even below the Exercise Price;(k) Price;(f) in consideration of the award of the Option, no claim or entitlement to compensation or damages shall arise from termination of the Option or diminution in value of the Option, or Shares purchased through the exercise of the Option, resulting from termination of Optionee's employment or continuous service by the Company or any Subsidiary (for any reason whatsoever and whether or not in breach of applicable labor laws of the jurisdiction where Optionee is employed or the terms of Optionee's employment agreement, if any, and whether or not later found to be invalid) and in consideration of the grant of the Option, Optionee irrevocably releases the Company and any Subsidiary 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/electronically accepting the Agreement, Optionee shall be deemed irrevocably to have waived Optionee's entitlement to pursue or seek remedy for any such claim;(l) claim;(g) the Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Optionee's participation in the Plan or Optionee's acquisition or sale of the underlying Shares; and(m) and(h) Optionee is hereby advised to consult with Optionee's own personal tax, legal and financial advisors regarding Optionee's participation in the Plan before taking any action related to the Plan.19. Language. If Plan. 7 18. Severability. The provisions of this Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.19. Waiver. Optionee has received acknowledges that a waiver by the Company of breach of any provision of this Agreement shall not operate or be construed as a waiver of any other provision of this Agreement, the Plan or of any subsequent breach by Optionee or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control, unless otherwise prescribed by applicable law. participant. View More
Nature of Option. The Option is not intended to meet the requirements of Section 422 of the Internal Revenue Code of 1986, as amended, relating to "incentive stock options." 3. EXERCISE PRICE. The exercise price of each of the Option Shares shall be Three Dollars and Seventy-Three Cents ($3.73) per share (the "Exercise Price"). The Company shall pay all original issue or transfer taxes on the exercise of the Option.
Nature of Option. The Option is not intended to meet the requirements of Section 422 of the Internal Revenue Code of 1986, as amended, relating to "incentive stock options." 3. EXERCISE PRICE. The exercise price of each of the Option Shares shall be Three Two Dollars and Seventy-Three Eighty Cents ($3.73) ($2.80) per share (the "Exercise Price"). The Company shall pay all original issue or transfer taxes on the exercise of the Option.
