Nature of the Grant Clause Example with 25 Variations from Business Contracts
This page contains Nature of the Grant 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.
Nature of the Grant. In accepting the RSUs, 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 is voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, or benefits in lieu of RSUs even if RSUs have been awarded repeatedly in the ...past; (c) all decisions with respect to future grants of RSUs, if any, will be at the sole discretion of the Company; (d) the Participant's participation in the Plan is voluntary; (e) the RSUs are outside the scope of the Participant's employment contract, if any; (f) the RSUs 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 will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the grant of the RSUs 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, the value of such Shares may increase or decrease in value; (j) in consideration of the grant of the RSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs or diminution in value of the RSUs or Shares received upon vesting of RSUs 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
Variations of a "Nature of the Grant" Clause from Business Contracts
Nature of the Grant. In accepting the RSUs, signing this Agreement, the Participant acknowledges that: (a) the 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 except to the extent otherwise provided in the Plan and this Agreement; Agreement. (b) the The grant of the RSUs is voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, or benefits i...n lieu of RSUs even if RSUs have been awarded repeatedly in the past; past. (c) all All decisions with respect to future grants of RSUs, if any, will be at the sole discretion of the Company; Company. (d) the The Participant's participation in the Plan is voluntary; voluntary. (e) the RSUs are outside the scope of the Participant's employment contract, if any; (f) the RSUs are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculation of any overtime, wage payment, severance, resignation, termination, redundancy, or other end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or the Participant's employer or arising under any employment agreement. 5 (f) No voting or dividend or distribution rights apply with respect to the RSUs. (g) in the event that the Participant is not an employee of the Company, the grant of the RSUs will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the grant of the RSUs will not be interpreted to form an employment contract with the Employer or any Related Entity; (h) the The future value of the underlying Shares is unknown and cannot be predicted with certainty; (i) if certainty. (h) If the Participant receives Shares upon vesting of the RSUs, vesting, the value of such Shares acquired on vesting of RSUs may increase or decrease in value; (j) in value. (i) In consideration of the grant of the RSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs or diminution in value of the RSUs or Shares received upon vesting of RSUs resulting from termination of the Participant's Service to employment by the Company or the Employer Participant's 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 his or her 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. (j) If the Participant ceases to be an employee (whether or not in breach of local labor laws), the Participant's right to receive RSUs and vest under the Plan, if any, will terminate effective as of the date that the Participant is no longer actively employed by the Company and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of "garden leave" or similar period pursuant to local law); the Committee shall have the exclusive discretion to determine when the Participant is no longer actively employed for purposes of the Plan. View More
Nature of the Grant. In accepting the RSUs, signing this Agreement, the Participant acknowledges that: (a) the 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 except to the extent otherwise provided in the Plan and this Agreement; Agreement. (b) the The grant of the RSUs is voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, or benefits i...n lieu of RSUs even if RSUs have been awarded repeatedly in the past; past. (c) all All decisions with respect to future grants of RSUs, if any, will be at the sole discretion of the Company; Company. (d) the The Participant's participation in the Plan is voluntary; voluntary. (e) the RSUs are outside the scope of the Participant's employment contract, if any; (f) the RSUs are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculation of any overtime, wage payment, severance, resignation, termination, redundancy, or other end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or the Participant's employer or arising under any employment agreement. (f) No voting or dividend or distribution rights apply with respect to the RSUs. (g) in the event that the Participant is not an employee of the Company, the grant of the RSUs will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the grant of the RSUs will not be interpreted to form an employment contract with the Employer or any Related Entity; (h) the The future value of the underlying Shares is unknown and cannot be predicted with certainty; (i) if certainty. (h) If the Participant receives Shares upon vesting of the RSUs, vesting, the value of such Shares acquired on vesting of RSUs may increase or decrease in value; (j) in value. 6 (i) In consideration of the grant of the RSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs or diminution in value of the RSUs or Shares received upon vesting of RSUs resulting from termination of the Participant's Service to employment by the Company or the Employer Participant's 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 his or her 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. (j) If the Participant ceases to be an employee (whether or not in breach of local labor laws), the Participant's right to receive RSUs and vest under the Plan, if any, will terminate effective as of the date that the Participant is no longer actively employed by the Company and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of "garden leave" or similar period pursuant to local law); the Committee shall have the exclusive discretion to determine when the Participant is no longer actively employed for purposes of the Plan. View More
Nature of the Grant. In accepting the RSUs, signing this Agreement, the Participant acknowledges that: (a) the 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 except to the extent otherwise provided in the Plan and this Agreement; Agreement. (b) the The grant of the RSUs is voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, or benefits i...n lieu of RSUs even if RSUs have been awarded repeatedly in the past; past. (c) all All decisions with respect to future grants of RSUs, if any, will be at the sole discretion of the Company; Company. (d) the The Participant's participation in the Plan is voluntary; voluntary. (e) the RSUs are outside the scope of the Participant's employment contract, if any; (f) the RSUs are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculation of any overtime, wage payment, severance, resignation, termination, redundancy, or other end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or the Participant's employer or arising under any employment agreement. (f) No voting or dividend or distribution rights apply with respect to the RSUs. (g) in the event that the Participant is not an employee of the Company, the grant of the RSUs will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the grant of the RSUs will not be interpreted to form an employment contract with the Employer or any Related Entity; (h) the The future value of the underlying Shares is unknown and cannot be predicted with certainty; (i) if certainty. (h) If the Participant receives Shares upon vesting of the RSUs, vesting, the value of such Shares acquired on vesting of RSUs may increase or decrease in value; (j) in value. (i) In consideration of the grant of the RSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs or diminution in value of the RSUs or Shares received upon vesting of RSUs resulting from termination of the Participant's Service to employment by the Company or the Employer Participant's 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 his or her 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. (j) If the Participant ceases to be an employee (whether or not in breach of local labor laws), the Participant's right to receive RSUs and vest under the Plan, if any, will terminate effective as of the date that the Participant is no longer actively employed by the Company and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of "garden leave" or similar period pursuant to local law); the Committee shall have the exclusive discretion to determine when the Participant is no longer actively employed for purposes of the Plan. View More
Nature of the Grant. In accepting the RSUs, signing this Agreement, 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 is voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, or benefits in lieu of RSUs even if RSUs have been aw...arded repeatedly in the past; 4 (c) all decisions with respect to future grants of RSUs, if any, will be at the sole discretion of the Company; (d) the Participant's participation in the Plan is voluntary; (e) RSUs are an extraordinary item that do not constitute compensation of any kind for services of any kind rendered to the Company or to the Participant's employer, and RSUs are outside the scope of the Participant's employment contract, if any; (f) the RSUs 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; payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or the Participant's employer; (g) in the event that the Participant is not an employee of the Company, the grant of the RSUs will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the grant of the RSUs 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) (h) if the Participant receives Shares upon vesting of the RSUs, vesting, the value of such Shares acquired on vesting of RSUs may increase or decrease in value; (j) (i) in consideration of the grant of the RSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs or diminution in value of the RSUs or Shares received upon vesting of RSUs resulting from termination of the Participant's Service to employment by the Company or the Employer Participant's 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 his or her 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. claim; and (j) further, if the Participant ceases to be a employee (whether or not in breach of local labor laws), the Participant's right to receive RSUs and vest under the Plan, if any, will terminate effective as of the date that the Participant is no longer actively employed by the Company and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of "garden leave" or similar period pursuant to local law); the Committee shall have the exclusive discretion to determine when the Participant is no longer actively employed for purposes of the Plan. View More
Nature of the Grant. In accepting the RSUs, signing this Agreement, 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 is voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, or benefits in lieu of RSUs even if RSUs have been aw...arded repeatedly in the past; (c) all decisions with respect to future grants of RSUs, if any, will be at the sole discretion of the Company; (d) the Participant's participation in the Plan is voluntary; (e) RSUs are an extraordinary item that do not constitute compensation of any kind for services of any kind rendered to the Company or to the Participant's employer, and RSUs are outside the scope of the Participant's employment contract, if any; (f) the RSUs 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; payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or the Participant's employer; (g) in the event that the Participant is not an employee of the Company, the grant of the RSUs will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the grant of the RSUs 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) (h) if the Participant receives Shares upon vesting of the RSUs, vesting, the value of such Shares acquired on vesting of RSUs may increase or decrease in value; (j) 5 (i) in consideration of the grant of the RSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs or diminution in value of the RSUs or Shares received upon vesting of RSUs resulting from termination of the Participant's Service to employment by the Company or the Employer Participant's 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 his or her 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. claim; and (j) further, if the Participant ceases to be an employee (whether or not in breach of local labor laws), the Participant's right to receive RSUs and vest under the Plan, if any, will terminate effective as of the date that the Participant is no longer actively employed by the Company and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of "garden leave" or similar period pursuant to local law); the Committee shall have the exclusive discretion to determine when the Participant is no longer actively employed for purposes of the Plan. View More
