No Guarantee of Continued Service Clause Example from Business Contracts

No Guarantee of Continued Service. THE PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY OR THE PARENT OR SUBSIDIARY OF THE COMPANY EMPLOYING THE PARTICIPANT (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THE OPTION OR ACQUIRING SHARES HEREUNDER). THE PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS OPTION AGREEMENT, THE OPTION GRANTED HEREUNDER, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND TH...E VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH THE PARTICIPANT'S RIGHT OR THE RIGHT OF THE COMPANY (OR THE PARENT OR SUBSIDIARY OF THE COMPANY EMPLOYING THE PARTICIPANT) TO TERMINATE THE PARTICIPANT'S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. -7- EXHIBIT B AEROHIVE NETWORKS, INC. 2006 GLOBAL SHARE PLAN EXERCISE NOTICE Aerohive Networks, Inc. Attention: Secretary 1. Exercise of Option. Effective as of today, _____________, _____, the undersigned (the "Participant") hereby elects to exercise the Participant's option to purchase _________ shares of Common Stock (the "Shares") of AEROHIVE NETWORKS, INC. (the "Company"), under and pursuant to the 2006 Global Share Plan (the "Plan") and the U.S. Share Option Agreement dated ____________, ____ (the "Option Agreement"). Unless otherwise defined herein, the capitalized terms in this notice of exercise (the "Exercise Notice") shall have the meanings ascribed to those terms in the Plan. View More