Nature of the Benefit Contract Clauses (15)

Grouped Into 2 Collections of Similar Clauses From Business Contracts

This page contains Nature of the Benefit clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Nature of the Benefit. The Participant understands and agrees that: (a) the Plan is established voluntarily by the Company, it is discretionary in nature and may be amended, modified, suspended or terminated by the Company at any time as provided in the Plan; (b) the grant of Restricted Stock Units is voluntary and occasional and does not create any contractual or other right to receive future grants of Restricted Stock Units, or benefits in lieu of Restricted Stock Units, even if Restricted Stock Units have been gran...ted repeatedly in the past; (c) all decisions with respect to future grants, if any, including, but not limited to, the times when the Restricted Stock Units shall be granted and the vesting period will be at the sole discretion of the Company; (d) the grant of Restricted Stock Units and the Participant's participation in the Plan shall not create a right to further employment with the Employer, shall not be interpreted as forming an employment or Service contract with the Company and shall not interfere with the ability of the Employer to terminate the Participant's employment relationship at any time (as otherwise may be permitted under local law); (e) the Participant's participation in the Plan is voluntary; (f) the Restricted Stock Units and any underlying Shares are not intended to replace any pension rights or compensation; (g) the grant of Restricted Stock Units and the underlying Shares are an extraordinary item of compensation outside the scope of the Participant's employment (and employment contract, if any) with the Employer and is not part of normal or expected compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; (h) the future value of the underlying Shares is unknown, indeterminable and cannot be predicted with certainty; (i) the grant of Restricted Stock Units will not be interpreted to form an employment contract with the Employer; (j) the Company and the Employer are not liable for any exchange rate fluctuation between the Participant's local currency and the United States Dollar that may affect the value of the Shares or any amounts due pursuant to settlement or the subsequent sale of any Shares; and (k) no claim or entitlement to compensation or damages shall arise from forfeiture of the Restricted Stock Units under the Plan resulting from termination of the Participant's employment by the Employer (for any reason and whether or not in breach of local labor laws and whether or not later found to be invalid). View More
Found in Ceridian HCM Holding Inc. contract
Nature of the Benefit. The Participant understands and agrees that: (a) the Plan is established voluntarily by the Company, it is discretionary in nature and may be amended, modified, suspended or terminated by the Company at any time as provided in the Plan; (b) the grant of Restricted Stock Units is voluntary and occasional and does not create any contractual or other right to receive future grants of Restricted Stock Units, or benefits in lieu of Restricted Stock Units, even if Restricted Stock Units have been gran...ted repeatedly in the past; (c) all decisions with respect to future grants, if any, including, but not limited to, the times when the Restricted Stock Units shall be granted and the vesting period will be at the sole discretion of the Company; (d) the grant of Restricted Stock Units and the Participant's participation in the Plan shall not create a right to further employment with the Employer, Company, shall not be interpreted as forming an employment or Service contract with the Company and shall not interfere with the ability of the Employer Company to terminate the Participant's employment service relationship at any time (as otherwise may be permitted under local law); (e) the Participant's participation in the Plan is voluntary; (f) the Restricted Stock Units and any underlying Shares are not intended to replace any pension rights or compensation; (g) the grant of Restricted Stock Units and the underlying Shares are an extraordinary item of compensation outside the scope of the Participant's employment (and employment contract, if any) with the Employer and is not part of normal or expected compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; (h) the future value of the underlying Shares is unknown, indeterminable and cannot be predicted with certainty; (i) the grant of Restricted Stock Units will not be interpreted to form an employment contract with the Employer; Company; and (j) the Company and the Employer are is not liable for any exchange rate fluctuation between the Participant's local currency and the United States Dollar that may affect the value of the Shares or any amounts due pursuant to settlement or the subsequent sale of any Shares; Shares. 3 13. Country Addendum; Interpretation of Terms; General. The term "Country Addendum" means any document prepared by the Company and (k) no claim which refers to this Agreement and contains additional Restricted Stock Unit terms to address matters pertaining to the Participant's then current country of residence. If the Participant relocates to one of the countries included in the Country Addendum, the special terms and conditions for such country will apply to the Participant, to the extent the Company determines that the application of such terms and conditions is necessary or entitlement advisable for legal or administrative reasons (or the Company may establish alternative terms as may be necessary or advisable to compensation or damages accommodate the Participant's transfer). The Country Addendum constitutes part of this Agreement. The Committee shall arise from forfeiture interpret the terms of the Restricted Stock Units, this Agreement, the Plan and any Country Addendum, and all determinations by the Committee shall be final and binding. The Company may, without the Participant's consent, assign all of their respective rights and obligations under the Restricted Stock Unit to their respective successors and assigns. Following an assignment to the successor of the Company, as applicable, all references herein to the Board of Directors and Committee shall be references to the board of directors and committee, as applicable, of the successor of the Company. This Agreement, the Plan and any Country Addendum contain the complete agreement between the Company and the Participant concerning the Restricted Stock Units, are governed by the laws of the State of Delaware (or the laws stated an applicable Country Addendum), and may be amended only in writing, signed by an authorized officer of the Company. The Participant will take all actions reasonably requested by the Company to enable the administration of the Restricted Stock Units under and Plan and/or comply with the Plan resulting from termination local laws and regulations of the Participant's employment by then current country of residence. No waiver of any breach or condition of this Agreement, the Employer (for any reason and whether Plan or not in breach of local labor laws and whether or not later found a Country Addendum shall be deemed to be invalid). a waiver of any other or subsequent breach or condition whether of like or different nature. View More
Found in Ceridian HCM Holding Inc. contract
View Variations (2)
Nature of the Benefit. Optionee understands and agrees that: a.the Plan is established voluntarily by Ceridian, it is discretionary in nature and may be amended, modified, suspended or terminated by Ceridian at any time as provided in the Plan; b.the grant of the Option is voluntary and occasional and does not create any contractual or other right to receive any additional Options or equity awards in the future from Ceridian or any Subsidiaries, or affect in any way the right of Ceridian or any Subsidiaries to termina...te the granting of stock options or other equity awards at any time; c.all decisions with respect to future grants, if any, including, but not limited to, the times when the Options shall be granted, the Option Period, and the Exercise Price will be at the sole discretion of Ceridian; d.the grant of the Option and Optionee's participation in the Plan shall not create a right to further employment with the Employer, shall not be interpreted as forming an employment or Service contract with Ceridian and shall not interfere with the ability of the Employer to terminate Optionee's employment relationship at any time (as otherwise may be permitted under local law); e.Optionee's participation in the Plan is voluntary; f.the Option and any underlying Shares are not intended to replace any pension rights or compensation; g.the grant of the Option and the underlying Shares are an extraordinary item of compensation outside the scope of Optionee's employment (and employment contract, if any) and is not part of normal or expected compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; h.the future value of the underlying Shares is unknown, indeterminable and cannot be predicted with certainty; i.if the Option is exercised, the value of the Shares acquired upon exercise may increase or decrease, even below the Exercise Price; j.the grant of the Option will not be interpreted to form an employment contract with the Employer; k.Ceridian and the Employer are not liable for any exchange rate fluctuation between Optionee's local currency and the United States Dollar that may affect the value of the Shares or any amounts due pursuant to settlement or the subsequent sale of any Shares; and l.no claim or entitlement to compensation or damages shall arise from forfeiture of the Option under the Plan resulting from termination of Optionee's employment by the Employer (for any reason and whether or not in breach of local labor laws and whether or not later found to be invalid). View More
Found in Ceridian HCM Holding Inc. contract
Nature of the Benefit. Optionee understands and agrees that: a.the a. the Plan is established voluntarily by Ceridian, it is discretionary in nature and may be amended, modified, suspended or terminated by Ceridian at any time as provided in the Plan; b.the b. the grant of the Option is voluntary and occasional and does not create any contractual or other right to receive any additional Options or equity awards in the future from Ceridian or any Subsidiaries, Affiliates, or affect in any way the right of Ceridian or a...ny Subsidiaries Affiliates to terminate the granting of stock options or other equity awards at any time; c.all c. all decisions with respect to future grants, if any, including, but not limited to, the times when the Options shall be granted, the Option Period, and the Exercise Price will be at the sole discretion of Ceridian; d.the d. the grant of the Option and Optionee's participation in the Plan shall not create a right to further employment with the Employer, Ceridian, shall not be interpreted as forming an employment or Service contract with Ceridian and shall not interfere with the ability of the Employer Ceridian to terminate Optionee's employment service relationship at any time (as otherwise may be permitted under local law); e.Optionee's e. Optionee's participation in the Plan is voluntary; f.the f. the Option and any underlying Shares are not intended to replace any pension rights or compensation; g.the g. the grant of the Option and the underlying Shares are an extraordinary item of compensation outside the scope of Optionee's employment (and employment contract, if any) and is are not part of normal or expected compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments; h.the Page 3 h. the future value of the underlying Shares is unknown, indeterminable and cannot be predicted with certainty; i.if i. if the Option is exercised, the value of the Shares acquired upon exercise may increase or decrease, even below the Exercise Price; j.the j. the grant of the Option will not be interpreted to form an employment contract with the Employer; k.Ceridian and the Employer are Ceridian; k. Ceridian is not liable for any exchange rate fluctuation between Optionee's local currency and the United States Dollar that may affect the value of the Shares or any amounts due pursuant to settlement or the subsequent sale of any Shares; and l.no claim 17. Electronic Delivery and Participation. Optionee acknowledges that Ceridian may, in its sole discretion, decide to deliver any documents related to Optionee's current or entitlement to compensation or damages shall arise from forfeiture of the Option under future participation in the Plan resulting from termination of by electronic means and/or may request Optionee's employment consent to participate in the Plan by electronic means. Optionee hereby consents to receive such documents by electronic delivery and, if requested, agrees to participate in the Employer (for any reason Plan through an on-line or electronic system established and whether maintained by Ceridian, the Plan broker or not in breach of local labor laws and whether or not later found to be invalid). another third party designated by Ceridian. View More
Found in Ceridian HCM Holding Inc. contract
View Variations (2)