Option Not a Service Contract Clause Example with 9 Variations from Business Contracts
This page contains Option Not a Service Contract 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.
Option Not a Service Contract. (a) Your Continuous Service with the Company or an Affiliate is not for any specified term and may be terminated by you or by the Company or an Affiliate at any time, for any reason, with or without cause and with or without notice. Nothing in this Option Agreement (including, but not limited to, the vesting of your option pursuant to the schedule set forth in Section 1 herein or the issuance of the shares upon exercise of your option), the Plan or any covenant of good faith and fair dealing tha...t may be found implicit in this Option Agreement or the Plan shall: (i) confer upon you any right to continue in the employ of, or affiliation with, the Company or an Affiliate; (ii) constitute any promise or commitment by the Company or an Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Option Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Option Agreement or Plan; or (iv) deprive the Company or an Affiliate of the right to terminate you at will and without regard to any future vesting opportunity that you may have. (b) By accepting this option, you acknowledge and agree that the right to continue vesting in the option pursuant to the schedule set forth in Section 1 is earned only by continuing as an employee, director or consultant at the will of the Company or an Affiliate (not through the act of being hired, being granted this option or any other award or benefit) and that the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Affiliates at any time or from time to time, as it deems appropriate (a "reorganization"). You further acknowledge and agree that such a reorganization could result in the termination of your Continuous Service, or the termination of Affiliate status of your employer and the loss of benefits available to you under this Option Agreement, including but not limited to, the termination of the right to continue vesting in the option. You further acknowledge and agree that this Option Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Option Agreement, for any period, or at all, and shall not interfere in any way with your right or the Company's or an Affiliate's right to terminate your Continuous Service at any time, with or without cause and with or without notice.View More
Variations of a "Option Not a Service Contract" Clause from Business Contracts
Option Not a Service Contract. (a) Your Continuous Service with the Company or an Affiliate is not for any specified term and may be terminated by you or by the Company or an Affiliate at any time, for any reason, with or without cause and with or without notice. Nothing This Option is not an employment or service contract, and nothing in this Option Agreement (including, but not limited to, the vesting of your option pursuant the shares of Common Stock subject to the schedule set forth in Section 1 herein this Option or the ...issuance of the such shares upon exercise of your option), this Option), this Agreement, the Plan or any covenant of good faith and fair dealing that may be found implicit in this Option or Agreement or the Plan shall: will: (i) create or confer upon you any right or obligation to continue in the employ or service of, or affiliation with, the Company or an Affiliate; (ii) constitute any promise or commitment by the Company or an Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment employment, service or affiliation; (iii) create or confer upon you any right or benefit under this Option Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Option Agreement or the Plan; or (iv) deprive the Company or an Affiliate of the right to terminate you at will and without regard to any future vesting opportunity that you may have. (b) By accepting In addition, nothing in this option, you acknowledge and agree that Option will obligate the right Company or an Affiliate, their respective stockholders, boards of directors, Officers or Employees to continue vesting any relationship that you might have as an Employee, Director or Consultant for the Company or an Affiliate. -33- 12. Tax Withholding Obligations. a. At the time you exercise this Option, in whole or in part, and at any time thereafter as requested by the option Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a "same day sale" pursuant to a program developed under Regulation T as promulgated by the schedule set forth in Section 1 is earned only Federal Reserve Board to the extent permitted by continuing as an employee, director or consultant at the will Company), any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or an any Affiliate (not through which arise in connection with this Option. b. If this Option is a Nonstatutory Stock Option, then upon your request and subject to the act consent of being hired, being granted this option or any other award or benefit) and that the Company has at the right to reorganize, sell, spin-out or time of exercise, the Company may withhold from fully vested shares of Common Stock otherwise restructure one or more of its businesses or Affiliates at any time or from time to time, as it deems appropriate (a "reorganization"). You further acknowledge and agree that such a reorganization could result in the termination of your Continuous Service, or the termination of Affiliate status of your employer and the loss of benefits available issuable to you under this Option Agreement, including but not limited to, the termination of the right to continue vesting in the option. You further acknowledge and agree that this Option Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term upon exercise of this Option Agreement, a number of whole shares of Common Stock with a Fair Market Value on the date of exercise that does not exceed the minimum amount of tax required to be withheld by law (or such other amount as may be necessary to avoid classification of this Option as a liability for financial accounting purposes). c. You may not exercise this Option unless the tax withholding obligations of the Company and/or any Affiliate are satisfied. Accordingly, you may not be able to exercise this Option when desired even though this Option is vested, and the Company will have no obligation to issue a certificate for any period, or at all, and shall not interfere in any way with your right or the Company's or an Affiliate's right to terminate your Continuous Service at any time, with or without cause and with or without notice. shares of Common Stock unless such obligations are satisfied. View More
Option Not a Service Contract. (a) Your Continuous Service with the Company Company, the Employer or an any other Affiliate is not for any specified term and may be terminated by you or by the Company Company, the Employer or an any other Affiliate at any time, for any reason, with or without cause and with or without notice. Nothing in this Option Agreement (including, but not limited to, the vesting of your option pursuant to the schedule set forth in Section 1 herein Award or the issuance of the shares upon exercise of sub...ject to your option), Award), the Plan or any covenant of good faith and fair dealing that may be found implicit in this Option Agreement or the Plan shall: will: (i) confer upon you any right to continue in the employ of, or affiliation with, with the Company or an Affiliate; Employer; (ii) constitute any promise or commitment by the Company Company, the Employer or an any other Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Option Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Option Agreement or Plan; or (iv) deprive the Company or an Affiliate the Employer of the right to terminate you at will any time and without regard to any future vesting opportunity that you may have. (b) By accepting this option, you acknowledge and agree that Finally, the right grant of the Option shall not be interpreted as forming an employment or service contract with the Company. Under no circumstances on ceasing to continue vesting be in the option pursuant to the schedule set forth in Section 1 is earned only by continuing as an employee, director employment or consultant at the will service of the Company will you be entitled to any compensation for any loss of any right or an Affiliate (not through benefit or prospective right or benefit under the act Plan which you might otherwise have enjoyed whether such compensation is claimed by way of being hired, being granted this option damages for wrongful dismissal or any other award breach of contract or benefit) and that the Company has the right to reorganize, sell, spin-out by way of compensation for loss of office or otherwise restructure one or more of its businesses or Affiliates at any time or from time to time, as it deems appropriate (a "reorganization"). You further acknowledge and agree that such a reorganization could result in the termination of your Continuous Service, or the termination of Affiliate status of your employer and the loss of benefits available to you under this Option Agreement, including but not limited to, the termination of the right to continue vesting in the option. You further acknowledge and agree that this Option Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Option Agreement, for any period, or at all, and shall not interfere in any way with your right or the Company's or an Affiliate's right to terminate your Continuous Service at any time, with or without cause and with or without notice. howsoever. View More
Option Not a Service Contract. (a) Your Continuous Service with the Company Company, the Employer or an any other Affiliate is not for any specified term and may be terminated by you or by the Company Company, the Employer or an any other Affiliate at any time, for any reason, with or without cause and with or without notice. Nothing in this Option Agreement (including, but not limited to, the vesting of your option pursuant to the schedule set forth in Section 1 herein Award or the issuance of the shares upon exercise of sub...ject to your option), Award), the Plan or any covenant of good faith and fair dealing that may be found implicit in this Option Agreement or the Plan shall: will: (i) confer upon you any right to continue in the employ of, or affiliation with, with the Company or an Affiliate; Employer; (ii) constitute any promise or commitment by the Company Company, the Employer or an any other Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or 3. affiliation; (iii) confer any right or benefit under this Option Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Option Agreement or Plan; or (iv) deprive the Company or an Affiliate the Employer of the right to terminate you at will any time and without regard to any future vesting opportunity that you may have. (b) By accepting this option, you acknowledge and agree that The grant of the right Option shall not be interpreted as forming an employment or service contract with the Company. Under no circumstances on ceasing to continue vesting be in the option pursuant to the schedule set forth in Section 1 is earned only by continuing as an employee, director employment or consultant at the will service of the Company will you be entitled to any compensation for any loss of any right or an Affiliate (not through benefit or prospective right or benefit under the act Plan which you might otherwise have enjoyed whether such compensation is claimed by way of being hired, being granted this option damages for wrongful dismissal or any other award breach of contract or benefit) and that the Company has the right to reorganize, sell, spin-out by way of compensation for loss of office or otherwise restructure one or more of its businesses or Affiliates at any time or from time to time, as it deems appropriate (a "reorganization"). You further acknowledge and agree that such a reorganization could result in the termination of your Continuous Service, or the termination of Affiliate status of your employer and the loss of benefits available to you under this Option Agreement, including but not limited to, the termination of the right to continue vesting in the option. You further acknowledge and agree that this Option Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Option Agreement, for any period, or at all, and shall not interfere in any way with your right or the Company's or an Affiliate's right to terminate your Continuous Service at any time, with or without cause and with or without notice. howsoever. View More
Option Not a Service Contract. (a) Your Continuous Service with the Company or an Affiliate service is not for any specified term and may be terminated by you or by the Company or an Affiliate at any time, for any reason, with or without cause and with or without notice. Nothing This Option is not a service contract, and nothing in this Option Agreement (including, but not limited to, the vesting of your option pursuant the shares of Common Stock subject to the schedule set forth in Section 1 herein this Option or the issuanc...e of the such shares upon exercise of your option), this Option), this Agreement, the Plan or any covenant of good faith and fair dealing that may be found implicit in this Option or Agreement or the Plan shall: will: (i) create or confer upon you any right or obligation to continue in the employ service of, or affiliation with, the Company or an Affiliate; (ii) constitute any promise or commitment by the Company or an Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment service or affiliation; (iii) create or confer upon you any right or benefit under this Option Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Option Agreement or the Plan; or (iv) deprive the Company or an Affiliate of the right to terminate you at will and without regard to any future vesting opportunity that you may have. (b) By accepting In addition, nothing in this option, you acknowledge and agree that the right to continue vesting in the option pursuant to the schedule set forth in Section 1 is earned only by continuing as an employee, director or consultant at the Option will of obligate the Company or an Affiliate (not through the act Affiliate, their respective stockholders, boards of being hired, being granted this option directors, Officers or Employees to continue any other award relationship that you might have as a Director or benefit) and that Consultant for the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Affiliates at any time or from time to time, as it deems appropriate (a "reorganization"). You further acknowledge and agree that such a reorganization could result in the termination of your Continuous Service, or the termination of Affiliate status of your employer and the loss of benefits available to you under this Option Agreement, including but not limited to, the termination of the right to continue vesting in the option. You further acknowledge and agree that this Option Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Option Agreement, for any period, or at all, and shall not interfere in any way with your right or the Company's or an Affiliate's right to terminate your Continuous Service at any time, with or without cause and with or without notice. Affiliate. View More
Option Not a Service Contract. (a) Your Continuous Service with the Company or an Affiliate is not for any specified term and may be terminated by you or by the Company or an Affiliate at any time, for any reason, with or without cause and with or without notice. Nothing This Option is not an employment or service contract, and nothing in this Option Agreement (including, but not limited to, the vesting of your option pursuant the shares of Common Stock subject to the schedule set forth in Section 1 herein this Option or the ...issuance of the such shares upon exercise of your option), this Option), this Agreement, the Plan or any covenant of good faith and fair dealing that may be found implicit in this Option or Agreement or the Plan shall: will: (i) create or confer upon you any right or obligation to continue in the employ or service of, or affiliation with, the Company or an Affiliate; (ii) constitute any promise or commitment by the Company or an Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment employment, service or affiliation; (iii) create or confer upon you any right or benefit under this Option Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Option Agreement or the Plan; or (iv) deprive the Company or an Affiliate of the right to terminate you at will and without regard to any future vesting opportunity that you may have. (b) By accepting In addition, nothing in this option, you acknowledge and agree that the right to continue vesting in the option pursuant to the schedule set forth in Section 1 is earned only by continuing as an employee, director or consultant at the Option will of obligate the Company or an Affiliate (not through the act Affiliate, their respective stockholders, boards of being hired, being granted this option directors, Officers or Employees to continue any other award relationship that you might have as an Employee, Director or benefit) and that Consultant for the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Affiliates at any time or from time to time, as it deems appropriate (a "reorganization"). You further acknowledge and agree that such a reorganization could result in the termination of your Continuous Service, or the termination of Affiliate status of your employer and the loss of benefits available to you under this Option Agreement, including but not limited to, the termination of the right to continue vesting in the option. You further acknowledge and agree that this Option Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Option Agreement, for any period, or at all, and shall not interfere in any way with your right or the Company's or an Affiliate's right to terminate your Continuous Service at any time, with or without cause and with or without notice. Affiliate. View More
Option Not a Service Contract. (a) Your Continuous Service with the Company Company, the Employer or an any other Affiliate is not for any specified term and may be terminated by you or by the Company Company, the Employer or an any other Affiliate at any time, for any reason, with or without cause and with or without notice. Nothing in this Option Agreement (including, but not limited to, the vesting of your option pursuant to the schedule set forth in Section 1 herein Award or the issuance of the shares upon exercise of sub...ject to your option), Award), the Plan or any covenant of good faith and fair dealing that may be found implicit in this Option Agreement or the Plan shall: will: (i) confer upon you any right to continue in the employ of, or affiliation with, with the Company or an Affiliate; Employer; (ii) constitute any promise or commitment by the Company Company, the Employer or an any other Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Option Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Option Agreement or Plan; or (iv) deprive the Company or an Affiliate the Employer of the right to terminate you at will any time and without regard to any future vesting opportunity that you may have. (b) By accepting this option, you acknowledge and agree that Finally, the right to continue vesting in the option pursuant to the schedule set forth in Section 1 is earned only by continuing as an employee, director or consultant at the will grant of the Company or an Affiliate (not through the act of being hired, being granted this option or any other award or benefit) and that the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Affiliates at any time or from time to time, as it deems appropriate (a "reorganization"). You further acknowledge and agree that such a reorganization could result in the termination of your Continuous Service, or the termination of Affiliate status of your employer and the loss of benefits available to you under this Option Agreement, including but not limited to, the termination of the right to continue vesting in the option. You further acknowledge and agree that this Option Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Option Agreement, for any period, or at all, and shall not interfere in any way be interpreted as forming an employment or service contract with your right or the Company's or an Affiliate's right to terminate your Continuous Service at any time, with or without cause and with or without notice. Company. View More
Option Not a Service Contract. (a) Your Continuous Service with the Company or an Affiliate is not for any specified term and may be terminated by you or by the Company or an Affiliate at any time, for any reason, with or without cause and with or without notice. Nothing in this Option Agreement (including, but not limited to, the vesting of your option pursuant to the schedule set forth in Section 1 herein Option or the issuance of the shares of Common Stock upon exercise of your option), 4 Option), the Plan or any covenant ...of good faith and fair dealing that may be found implicit in this Option Agreement or the Plan shall: will: (i) confer upon you any right to continue in the employ of, or affiliation with, the Company or an Affiliate; (ii) constitute any promise or commitment by the Company or an Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Option Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Option Agreement or Plan; or (iv) deprive the Company or an Affiliate of the right to terminate you at will and without regard to any future vesting opportunity that you may have. (b) By accepting this option, you acknowledge and agree that the right to continue vesting in the option pursuant to the schedule set forth in Section 1 is earned only by continuing as an employee, director or consultant at the will of the Company or an Affiliate (not through the act of being hired, being granted this option or any other award or benefit) and that the The Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Affiliates at any time or from time to time, as it deems appropriate (a "reorganization"). You further acknowledge and agree that such Such a reorganization could result in the termination of your Continuous Service, or the termination of Affiliate status of your employer and the loss of benefits available to you under this Option Agreement, including but not limited to, the termination of the right to continue vesting in the option. You further acknowledge and agree that this your Option. This Option Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Option Agreement, for any period, or at all, and shall will not interfere in any way with your right or the Company's or an Affiliate's right to terminate your Continuous Service at any time, with or without cause and with or without notice. conduct a reorganization. View More
Option Not a Service Contract. (a) Your Continuous Service with the Company or an Affiliate is not for any specified term and may be terminated by you or by the Company or an Affiliate at any time, for any reason, with or without cause and with or without notice. Nothing in this Option Agreement (including, but not limited to, the vesting of your option pursuant to the schedule set forth in Section 1 herein or the issuance of the shares of Common Stock upon exercise of your option), the Plan or any covenant of good faith and ...fair dealing that may be found implicit in this Option Agreement or the Plan shall: (i) confer upon you any right to continue in the employ of, or affiliation with, the Company or an Affiliate; (ii) constitute any promise or commitment by the Company or an Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Option Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Option Agreement or Plan; or (iv) deprive the Company or an Affiliate of the right to terminate you at will and without regard to any future vesting opportunity that you may have. (b) By accepting this option, you acknowledge and agree that the right to continue vesting in the option pursuant to the schedule set forth in Section 1 is earned only by continuing as an employee, director or consultant at the will of the Company or an Affiliate (not through the act of being hired, being granted this option or any other award or benefit) and that the The Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Affiliates at any time or from time to time, as it deems appropriate (a "reorganization"). You further acknowledge and agree that such Such a reorganization could result in the termination of your Continuous Service, or the termination of Affiliate status of your employer and the loss of benefits available to you under this Option Agreement, including but not limited to, the termination of the right to continue vesting in the your option. You further acknowledge and agree that this This Option Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Option Agreement, for any period, or at all, and shall not interfere in any way with your right or the Company's or an Affiliate's right to terminate your Continuous Service at any time, with or without cause and with or without notice. conduct a reorganization. View More
Option Not a Service Contract. (a) Your Continuous Service with the Company or an Affiliate a Related Entity is not for any specified term and may be terminated by you or by the Company or an Affiliate a Related Entity at any time, for any reason, with or without cause and with or without notice. Nothing in this Option Agreement (including, but not limited to, the vesting of your option Option pursuant to the schedule set forth in Section 1 herein the Notice of Stock Option Grant or the issuance of the shares upon exercise of... your option), the Plan or any covenant of good faith and fair dealing that may be found implicit in this Option Agreement or the Plan shall: (i) confer upon you any right to continue in the employ of, or affiliation with, the Company or an Affiliate; a Related Entity; (ii) constitute any promise or commitment by the Company or an Affiliate a Related Entity regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Option Agreement or the Plan unless such right or benefit has specifically accrued under the terms of this Option Agreement or Plan; or (iv) deprive the Company or an Affiliate of the right to terminate you at will and without regard to any future vesting opportunity that you may have. (b) By accepting this option, Option, you acknowledge and agree that the right to continue vesting in the option Option pursuant to the schedule set forth in Section 1 Notice of Stock Option Grant is earned only by continuing as an employee, director or consultant at the will of the Company or an Affiliate (not through the act of being hired, being granted this option or any other award or benefit) and that the Company has the right to reorganize, sell, spin-out or otherwise restructure one or more of its businesses or Affiliates Related Entity at any time or from time to time, as it deems appropriate (a "reorganization"). You further acknowledge and agree that such a reorganization could result in the termination of your Continuous Service, or the termination of Affiliate Related Entity status of your employer and the loss of benefits available to you under this Option Agreement, including but not limited to, the termination of the right to continue vesting in the option. You further acknowledge and agree that this Option Agreement, the Plan, the transactions contemplated hereunder and the vesting schedule set forth herein or any covenant of good faith and fair dealing that may be found implicit in any of them do not constitute an express or implied promise of continued engagement as an employee or consultant for the term of this Option Agreement, for any period, or at all, and shall not interfere in any way with your right or the Company's or an Affiliate's right to terminate your Continuous Service at any time, with or without cause Cause and with or without notice. 5 16. Further Instruments. The parties agree to execute such further instruments and to take such further action as may be reasonably necessary to carry out the purposes and intent of this Agreement. View More
