Discretionary Nature and Acceptance of Award. By accepting this Award, the Participant agrees to be bound by the terms of this Agreement and acknowledges that: a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement; b. The award of Performance Share Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Units, or benefits in lieu of Performance Share Units, even if Performance Share Units have been awarded repeatedly in the past. c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company; d. Participant’s participation in the Plan is voluntary; e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time; f. Performance Share Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any; g. The Performance Share Units are 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; h. In the event the Participant is not an employee of the Company, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company; i. The future value of the underlying Shares is unknown and cannot be predicted with certainty; j. In consideration of the award of the Performance Share Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Units or diminution in value of the Performance Share Units, or Shares acquired upon vesting of the Performance Share Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Units, Participant 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 the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement; k. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement; l. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and m. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 6 contracts
Samples: Performance Share Unit Award Agreement (Estee Lauder Companies Inc), Performance Share Unit Award Agreement (Estee Lauder Companies Inc), Performance Share Unit Award Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges acknowledges, understands and agrees that:
a. (a) The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. (b) The award of Performance Share Units is exceptional, voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Unitsawards, or benefits in lieu of Performance Share Units, even if Performance Share Units have been awarded repeatedly in the past.;
c. (c) All decisions with respect to future Performance Share Units or other awards, if any, will be at the sole discretion of the Company;
d. (d) The Participant’s participation in the Plan is voluntary;
e. (e) The Performance Share Units and any Shares acquired under the Plan, and the income and value of the same, are not intended to replace any pension rights or compensation;
(f) The Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate the Participant’s employment at any time;
f. (g) This award will be deemed accepted unless it is declined by way of written notice by the Participant within Thirty (30) days of the Grant Date to the Equity Based Compensation Department of the Company located at 000 Xxxxx Xxxxxx, Xxx Xxxx, XX 00000;
(h) The Performance Share Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any of its subsidiary, and which is outside the scope of the Participant’s employment or service contract, if any;
g. (i) The Performance Share Units and any Shares acquired under the Plan, and the income and value of the same, are not part of the Participant’s normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal 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 Employer, or the Company or any subsidiaryof its subsidiaries;
h. (j) In the event the Participant is not an employee of the Company, the Performance Share Units and the Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment Company or service contract with any subsidiary of the Company;
i. (k) The future value of the underlying Shares is unknown unknown, indeterminable and cannot be predicted with certainty;
j. (l) In consideration of the award of the Performance Share Unitsaward, no claim or entitlement to compensation or damages shall arise from termination forfeiture of the Performance Share Units or diminution in value of the Performance Share Units, or Shares acquired upon vesting of the Performance Share Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not later found to be invalid or in breach of local labor laws) employment laws in the jurisdiction where the Participant is employed, or the terms of the Participant’s employment), and in consideration of the award of the Performance Share Unitsaward, Participant irrevocably releases the Employer, the Company and any subsidiary of its subsidiaries 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 acknowledging and agreeing to or signing the Notice of Grant, the Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlemententitlement against the Employer, the Company or any of its subsidiary;
k. In (m) For Purposes of the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, the Participant’s employment or service relationship will terminate effective be considered terminated as of the date that the Participant is no longer actively employed and will not be extended providing services to the Employer, the Company or any of its subsidiaries as determined 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 Administrator shall have in its sole discretion (regardless of the exclusive discretion reason for such termination and whether or not later found to determine when be invalid or in breach of employment laws in the jurisdiction where the Participant is no longer actively employed for purposes or the terms of this Agreementthe Participant’s employment agreement, if any);
l. (n) The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. (o) The Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding the Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 6 contracts
Samples: Performance Share Unit Award Agreement (Estee Lauder Companies Inc), Performance Share Unit Award Agreement (Estee Lauder Companies Inc), Performance Share Unit Award Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Restricted Stock Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Restricted Stock Units, or benefits in lieu of Performance Share Restricted Stock Units, even if Performance Share Restricted Stock Units have been awarded repeatedly in the past.
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. Participant’s participation in the Plan is voluntary;
e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. Performance Share Restricted Stock Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. The Performance Share Restricted Stock Units are 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;
h. In the event the Participant is not an employee of the Company, the Performance Share Restricted Stock Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Restricted Stock Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. In consideration of the award of the Performance Share Restricted Stock Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Restricted Stock Units or diminution in value of the Performance Share Restricted Stock Units, or Shares acquired upon vesting of the Performance Share Restricted Stock Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Restricted Stock Units, Participant 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 the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Restricted Stock Units under the Plan and to vest in such Performance Share Restricted Stock Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 5 contracts
Samples: Restricted Stock Unit Agreement (Estee Lauder Companies Inc), Restricted Stock Unit Agreement (Estee Lauder Companies Inc), Restricted Stock Unit Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the Participant Employee agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended suspended, or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;.
b. The award of Performance Share Units the Stock Options is voluntary and occasional, and does not create any contractual or other right to receive future awards grants of Performance Share UnitsStock Options, or benefits in lieu of Performance Share UnitsStock Options, even if Performance Share Units Stock Options have been awarded granted repeatedly in the past.;
c. All decisions with respect to future awardsStock Option grants, if any, will be at the sole discretion of the Company;
d. ParticipantEmployee’s participation in the Plan is voluntary;
e. ParticipantEmployee’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate ParticipantEmployee’s employment at any time;
f. Performance Share Units are The Stock Option is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. The Performance Share Units are Stock Option 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;
h. In the event the Participant is not an employee Employee of the Company, the Performance Share Units Stock Option and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units Stock Option and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. If the Shares decrease in value, the Stock Option will have no value;
k. If Participant exercises the Stock Option and obtains Shares, the value of the Shares obtained upon exercise may increase or decrease in value, even below the Exercise Price;
l. In consideration of the award of the Performance Share UnitsStock Option, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Units Stock Option or diminution in value of the Performance Share UnitsStock Option, or Shares acquired upon vesting purchased through exercise of the Performance Share UnitsStock Option, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award grant of the Performance Share UnitsStock Option, Participant 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 the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. m. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units Stock Options under the Plan and to vest in such Performance Share UnitsStock Options, if any, will terminate effective as of the date that Participant is no longer actively employed 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); furthermore, in the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to exercise the Stock Options after termination of employment, if any, will be measured by the date of termination of active employment and will not be extended by any notice period mandated under local law; the Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. n. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. o. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 4 contracts
Samples: Stock Option Agreement (Estee Lauder Companies Inc), Stock Option Agreement (Estee Lauder Companies Inc), Stock Option Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended suspended, or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;.
b. The award of Performance Share Units the Stock Options is voluntary and occasional, and does not create any contractual or other right to receive future awards grants of Performance Share UnitsStock Options, or benefits in lieu of Performance Share UnitsStock Options, even if Performance Share Units Stock Options have been awarded granted repeatedly in the past.;
c. All decisions with respect to future awardsStock Option grants, if any, will be at the sole discretion of the Company;
d. ParticipantEmployee’s participation in the Plan is voluntary;
e. ParticipantEmployee’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate ParticipantEmployee’s employment at any time;
f. Performance Share Units are The Award of the Stock Options will be deemed accepted unless the Award is declined by way of written notice by the Participant within 30 days of the Award Date to the Equity Based Compensation Department of the Company in New York;
g. The Stock Option is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. h. The Performance Share Units are Stock Option 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;
h. i. In the event the Participant is not an employee Employee of the Company, the Performance Share Units Stock Option and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units Stock Option and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. j. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. k. If the Shares decrease in value, the Stock Option will have no value;
l. If Participant exercises the Stock Option and obtains Shares, the value of the Shares obtained upon exercise may increase or decrease in value, even below the Exercise Price;
m. In consideration of the award of the Performance Share UnitsStock Option, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Units Stock Option or diminution in value of the Performance Share UnitsStock Option, or Shares acquired upon vesting purchased through exercise of the Performance Share UnitsStock Option, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award grant of the Performance Share UnitsStock Option, Participant 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 acknowledging and agreeing to or signing the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. n. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units Stock Options under the Plan and to vest in such Performance Share UnitsStock Options, if any, will terminate effective as of the date that Participant is no longer actively employed 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); furthermore, in the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to exercise the Stock Options after termination of employment, if any, will be measured by the date of termination of active employment and will not be extended by any notice period mandated under local law; the Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. o. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. p. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 4 contracts
Samples: Stock Option Agreement (Estee Lauder Companies Inc), Stock Option Agreement (Estee Lauder Companies Inc), Stock Option Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Restricted Stock Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Restricted Stock Units, or benefits in lieu of Performance Share Restricted Stock Units, even if Performance Share Restricted Stock Units have been awarded repeatedly in the past.
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. Participant’s participation in the Plan is voluntary;
e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. Performance Share Restricted Stock Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. The Performance Share Restricted Stock Units are 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;
h. In the event the Participant is not an employee of the Company, the Performance Share Restricted Stock Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Restricted Stock Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. In consideration of the award of the Performance Share Restricted Stock Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Restricted Stock Units or diminution in value of the Performance Share Restricted Stock Units, or Shares acquired upon vesting of the Performance Share Restricted Stock Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Restricted Stock Units, Participant 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 the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Restricted Stock Units under the Plan and to vest in such Performance Share Restricted Stock Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 4 contracts
Samples: Restricted Stock Unit Agreement (Estee Lauder Companies Inc), Restricted Stock Unit Agreement (Estee Lauder Companies Inc), Restricted Stock Unit Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges acknowledges, understands and agrees that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Units is exceptional, voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Unitsawards, or benefits in lieu of Performance Share Restricted Stock Units, even if Performance Share Restricted Stock Units have been awarded repeatedly in the past.;
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. The Participant’s participation in the Plan is voluntary;
e. The Restricted Stock Units and any Shares acquired under the Plan, and the income and value of the same, are not intended to replace any pension rights or compensation;
f. The Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate the Participant’s employment at any time;
f. Performance Share g. This award will be deemed accepted unless it is declined by way of written notice by the Participant within thirty (30) days of the Grant Date to the Equity Based Compensation Department of the Company located at 000 Xxxxx Xxxxxx, Xxx Xxxx, XX 00000;
h. The Restricted Stock Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiaryof its subsidiaries, and which is outside the scope of Participant’s employment or service contract, if any;
g. i. The Performance Share Restricted Stock Units and any Shares acquired under the Plan, and the income and value of the same, are not part of the Participant’s normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal 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 Employer, the Company or any subsidiaryof its subsidiaries;
h. j. In the event the Participant is not an employee of the Company, the Performance Share Restricted Stock Units and the Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment Company or service contract with any subsidiary of the Company;
i. k. The future value of the underlying Shares is unknown unknown, indeterminable and cannot be predicted with certainty;
j. l. In consideration of the award of the Performance Share Unitsaward, no claim or entitlement to compensation or damages shall arise from termination forfeiture of the Performance Share Restricted Stock Units or diminution in value of the Performance Share Restricted Stock Units, or Shares acquired upon vesting of the Performance Share Restricted Stock Units, resulting from termination of the Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not later found to be invalid or in breach of local labor laws) employment laws in the jurisdiction where the Participant is employed, or the terms of the Participant’s employment), and in consideration of the award of award, the Performance Share Units, Participant irrevocably releases the Employer, the Company and any subsidiary of its subsidiaries 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 acknowledging and agreeing to or signing the Notice of Grant, the Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlemententitlement against the Employer, the Company or subsidiary;
k. In m. For purposes of the event of termination of Restricted Stock Units, the Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, service relationships will terminate effective be considered terminated as of the date that of the Participant is no longer actively employed and will not be extended providing services to the Employer, the Company or any of its subsidiaries as determined 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 Administrator shall have in its sole discretion (regardless of the exclusive discretion reason for such termination and whether or not later found to determine when be invalid or in breach of employment laws in the jurisdiction where the Participant is no longer actively employed for purposes or the terms of this Agreementthe Participant’s employment agreement, if any);
l. n. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Participant’s participation in the Plan or the Participant’s acquisition or sale of the underlying Shares; and
m. o. The Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding the Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 3 contracts
Samples: Restricted Stock Unit Agreement (Estee Lauder Companies Inc), Restricted Stock Unit Agreement (Estee Lauder Companies Inc), Restricted Stock Unit Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Units, or benefits in lieu of Performance Share Units, even if Performance Share Units have been awarded repeatedly in the past.
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. Participant’s participation in the Plan is voluntary;
e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. The Award of the Performance Share Units will be deemed accepted unless the Award is declined by way of written notice by the Participant within 30 days of the Award Date to the Equity Based Compensation Department of the Company in New York;
g. Performance Share Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. h. The Performance Share Units are 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;
h. i. In the event the Participant is not an employee of the Company, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. j. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. k. In consideration of the award of the Performance Share Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Units or diminution in value of the Performance Share Units, or Shares acquired upon vesting of the Performance Share Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Units, Participant 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 acknowledging and agreeing to or signing the Notice of GrantXxxxx, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. l. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. m. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. n. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 3 contracts
Samples: Performance Share Unit Award Agreement (Estee Lauder Companies Inc), Performance Share Unit Award Agreement (Estee Lauder Companies Inc), Performance Share Unit Award Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges acknowledges, understands and agrees that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Units is exceptional, voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Unitsawards, or benefits in lieu of Performance Share Restricted Stock Units, even if Performance Share Restricted Stock Units have been awarded repeatedly in the past.;
c. All decisions with respect to future Restricted Stock Units or other awards, if any, will be at the sole discretion of the Company;
d. The Participant’s participation in the Plan is voluntary;
e. The Restricted Stock Units and any Shares acquired under the Plan, and the income and value of the same, are not intended to replace any pension rights or compensation;
f. The Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate the Participant’s employment at any time;
f. Performance Share g. This award will be deemed accepted unless it is declined by way of written notice by the Participant within thirty (30) days of the Grant Date to the Equity Based Compensation Department of the Company located at 000 Xxxxx Xxxxxx, Xxx Xxxx, XX 00000;
h. The Restricted Stock Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiaryof its subsidiaries, and which is outside the scope of the Participant’s employment or service contract, if any;
g. i. The Performance Share Restricted Stock Units and any Shares acquired under the Plan, and the income and value of the same, are not part of the Participant’s normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal 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 Employer, the Company or any subsidiaryof its subsidiaries;
h. j. In the event the Participant is not an employee of the Company, the Performance Share Restricted Stock Units and the Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment Company or service contract with any subsidiary of the Company;
i. k. The future value of the underlying Shares is unknown unknown, indeterminable and cannot be predicted with certainty;
j. l. In consideration of the award of the Performance Share Unitsaward, no claim or entitlement to compensation or damages shall arise from termination forfeiture of the Performance Share Restricted Stock Units or diminution in value of the Performance Share Restricted Stock Units, or Shares acquired upon vesting of the Performance Share Restricted Stock Units, resulting from termination of the Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not later found to be invalid or in breach of local labor laws) employment laws in the jurisdiction where the Participant is employed, or the terms of the Participant’s employment), and in consideration of the award of award, the Performance Share Units, Participant irrevocably releases the Employer, the Company and any subsidiary of its subsidiaries 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 acknowledging and agreeing to or signing the Notice of Grant, the Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlemententitlement against the Employer, the Company or subsidiary;
k. In m. For purposes of the event of termination of Restricted Stock Units, the Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, service relationship will terminate effective be considered terminated as of the date that the Participant is no longer actively employed and will not be extended providing services to the Employer, the Company or any of its subsidiaries as determined 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 Administrator shall have in its sole discretion (regardless of the exclusive discretion reason for such termination and whether or not later found to determine when be invalid or in breach of employment laws in the jurisdiction where the Participant is no longer actively employed for purposes or the terms of this Agreementthe Participant’s employment agreement, if any);
l. n. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Participant’s participation in the Plan or the Participant’s acquisition or sale of the underlying Shares; and
m. o. The Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding the Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 3 contracts
Samples: Restricted Stock Unit Agreement (Estee Lauder Companies Inc), Restricted Stock Unit Agreement (Estee Lauder Companies Inc), Restricted Stock Unit Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges acknowledges, understands and agrees that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Units is exceptional, voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Unitsawards, or benefits in lieu of Performance Share Restricted Stock Units, even if Performance Share Restricted Stock Units have been awarded repeatedly in the past.;
c. All decisions with respect to future Restricted Stock Units or other awards, if any, will be at the sole discretion of the Company;
d. The Participant’s participation in the Plan is voluntary;
e. The Restricted Stock Units and any Shares acquired under the Plan, and the income and value of the same, are not intended to replace any pension rights or compensation;
f. The Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate the Participant’s employment at any time;
f. Performance Share g. This award will be deemed accepted unless it is declined by way of written notice by the Participant within thirty (30) days of the Grant Date to the Equity Based Compensation Department of the Company located at 000 Xxxxx Xxxxxx, Xxx Xxxx, XX 00000;
h. The Restricted Stock Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiaryof its subsidiaries, and which is outside the scope of the Participant’s employment or service contract, if any;
g. i. The Performance Share Restricted Stock Units and any Shares acquired under the Plan, and the income and value of the same, are not part of the Participant’s normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal 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 Employer, the Company or any subsidiaryof its subsidiaries;
h. j. In the event the Participant is not an employee of the Company, the Performance Share Restricted Stock Units and the Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment Company or service contract with any subsidiary of the Company;
i. k. The future value of the underlying Shares is unknown unknown, indeterminable and cannot be predicted with certainty;
j. l. In consideration of the award of the Performance Share Unitsaward, no claim or entitlement to compensation or damages shall arise from termination forfeiture of the Performance Share Restricted Stock Units or diminution in value of the Performance Share Restricted Stock Units, or Shares acquired upon vesting of the Performance Share Restricted Stock Units, resulting from termination of the Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not later found to be invalid or in breach of local labor laws) employment laws in the jurisdiction where the Participant is employed, or the terms of the Participant’s employment), and in consideration of the award of award, the Performance Share Units, Participant irrevocably releases the Employer, the Company and any subsidiary of its subsidiaries 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 acknowledging and agreeing to or signing the Notice of Grant, the Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlemententitlement against the Employer, the Company or subsidiary;
k. In m. For purposes of the event of termination of Restricted Stock Units, the Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, service relationship will terminate effective be considered terminated as of the date that the Participant is no longer actively employed and will not be extended providing services to the Employer, the Company or any of its subsidiaries as determined 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 Administrator shall have in its sole discretion (regardless of the exclusive discretion reason for such termination and whether or not later found to determine when be invalid or in breach of employment laws in the jurisdiction where the Participant is no longer actively employed for purposes or the terms of this Agreementthe Participant’s employment agreement, if any);
l. n. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Participant’s participation in the Plan or the Participant’s acquisition or sale of the underlying Shares; and
m. o. The Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding the Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 3 contracts
Samples: Restricted Stock Unit Agreement (Estee Lauder Companies Inc), Restricted Stock Unit Agreement (Estee Lauder Companies Inc), Restricted Stock Unit Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. (a) The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. (b) The award of Performance Share Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Units, or benefits in lieu of Performance Share Units, even if Performance Share Units have been awarded repeatedly in the past.;
c. (c) All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. (d) Participant’s participation in the Plan is voluntary;
e. (e) Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. (f) The Award of the Performance Share Units will be deemed accepted unless the Award is declined by way of written notice by the Participant within 30 days of the Grant Date to the Equity Based Compensation Department of the Company in New York;
(g) Performance Share Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. (h) The Performance Share Units are 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;
h. (i) In the event the Participant is not an employee of the Company, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. (j) The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. In consideration of the award of the Performance Share Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Units or diminution in value of the Performance Share Units, or Shares acquired upon vesting of the Performance Share Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor lawsk) and in consideration of the award of the Performance Share Units, Participant 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 the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. (l) Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 3 contracts
Samples: Performance Share Unit Award Agreement (Estee Lauder Companies Inc), Performance Share Unit Award Agreement (Estee Lauder Companies Inc), Performance Share Unit Award Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Restricted Stock Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Restricted Stock Units, or benefits in lieu of Performance Share Restricted Stock Units, even if Performance Share Restricted Stock Units have been awarded repeatedly in the past.
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. Participant’s participation in the Plan is voluntary;
e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. Performance Share The Award of the Restricted Stock Units will be deemed accepted unless the Award is declined by way of written notice by the Participant within 30 days of the Award Date to the Equity Based Compensation Department of the Company in New York;
g. Restricted Stock Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. h. The Performance Share Restricted Stock Units are 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;
h. i. In the event the Participant is not an employee of the Company, the Performance Share Restricted Stock Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Restricted Stock Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. j. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. k. In consideration of the award of the Performance Share Restricted Stock Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Restricted Stock Units or diminution in value of the Performance Share Restricted Stock Units, or Shares acquired upon vesting of the Performance Share Restricted Stock Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Restricted Stock Units, Participant 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 acknowledging and agreeing to or signing the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. l. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Restricted Stock Units under the Plan and to vest in such Performance Share Restricted Stock Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. m. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. n. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 2 contracts
Samples: Restricted Stock Unit Agreement (Estee Lauder Companies Inc), Restricted Stock Unit Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Restricted Stock Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Restricted Stock Units, or benefits in lieu of Performance Share Restricted Stock Units, even if Performance Share Restricted Stock Units have been awarded repeatedly in the past.
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. Participant’s participation in the Plan is voluntary;
e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. Performance Share The Award of the Restricted Stock Units will be deemed accepted unless the Award is declined by way of written notice by the Participant within 30 days of the Award Date to the Equity Based Compensation Department of the Company in New York;
g. Restricted Stock Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. h. The Performance Share Restricted Stock Units are 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;
h. i. In the event the Participant is not an employee of the Company, the Performance Share Restricted Stock Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Restricted Stock Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. j. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. k. In consideration of the award of the Performance Share Restricted Stock Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Restricted Stock Units or diminution in value of the Performance Share Restricted Stock Units, or Shares acquired upon vesting of the Performance Share Restricted Stock Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Restricted Stock Units, Participant 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 acknowledging and agreeing to or signing the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. l. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Restricted Stock Units under the Plan and to vest in such Performance Share Restricted Stock Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. m. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. n. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 2 contracts
Samples: Restricted Stock Unit Agreement (Estee Lauder Companies Inc), Restricted Stock Unit Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges acknowledges, understands and agrees that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended suspended, or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Units is exceptional, voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Unitsgrants, or benefits in lieu of Performance Share UnitsStock Options, even if Performance Share Units Stock Options have been awarded repeatedly granted in the past.;
c. All decisions with respect to future awardsStock Option grants, if any, will be at the sole discretion of the Company;
d. The Participant’s participation in the Plan is voluntary;
e. The Stock Options and any Shares acquired under the Plan, and the income and value of the same, are not intended to replace any pension rights or compensation;
f. The Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. Performance Share Units are g. This award will be deemed accepted unless it is declined by way of written notice by the Participant within thirty (30) days of the Grant Date to the Equity Based Compensation Department of the Company located at 000 Xxxxx Xxxxxx Xxx Xxxx, XX 00000;
h. The Stock Option is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiaryof its subsidiaries, and which is outside the scope of the Participant’s employment or service contract, if any;
g. i. The Performance Share Units Stock Option and any Shares acquired under the Plan, and the income value of the same, are not part of the Participant’s normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal 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 Employer, the Company or any subsidiaryof its subsidiaries;
h. j. In the event the Participant is not an employee of the Company, the Performance Share Units Stock Option and the Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment Company or service contract with any subsidiary of the Company;
i. k. The future value of the underlying Shares is unknown unknown, indeterminable and cannot be predicted with certainty;
j. l. If the Shares decrease in value, the Stock Option will have no value;
m. If the Participant exercises the Stock Option and acquires Shares, the value of the Shares acquired upon exercise may increase or decrease, even below the Exercise Price;
n. In consideration of the award of the Performance Share Unitsaward, no claim or entitlement to compensation or damages shall arise from termination forfeiture of the Performance Share Units Stock Option or diminution in value of the Performance Share UnitsStock Option, or Shares acquired upon vesting purchased through exercise of the Performance Share UnitsStock Option, resulting from termination of the Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not later found to be invalid or in breach of local labor laws) employment laws in the jurisdiction where the Participant is employed, or the terms of the Participant’s employment), and in consideration of the award grant of the Performance Share UnitsStock Option, the Participant irrevocably releases the Employer, the Company and any subsidiary of its subsidiaries 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 acknowledging and agreeing to or signing the Notice of Grant, the Participant shall be deemed irrevocably to have irrevocably waived his or her right to pursue or seek remedy for any such claim or entitlemententitlement against the Employer, the Company or any of its subsidiaries;
k. In o. For purposes of the event of termination of Stock Options, the Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, service relationship will terminate effective be considered terminated as of the date that the Participant is no longer actively employed and will not be extended providing services to the Employer, the Company or any of its subsidiaries as determined 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 Administrator shall have in its sole discretion (regardless of the exclusive discretion reason for such termination and whether or not later found to determine when be invalid or in breach of employment laws in the jurisdiction where the Participant is no longer actively employed for purposes or the terms of this Agreementthe Participant’s employment agreements, if any;
l. p. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. q. The Participant is hereby advised to consult with the Participant’s own personal tax, legal and financial advisors regarding the Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 2 contracts
Samples: Stock Option Agreement (Estee Lauder Companies Inc), Stock Option Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges acknowledges, understands and agrees that:
a. (a) The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. (b) The award of Performance Share Units is exceptional, voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Unitsawards, or benefits in lieu of Performance Share Units, even if Performance Share Units have been awarded repeatedly in the past.;
c. (c) All decisions with respect to future Performance Share Units or other awards, if any, will be at the sole discretion of the Company;
d. (d) The Participant’s participation in the Plan is voluntary;
e. (e) The Performance Share Units and any Shares acquired under the Plan, and the income and value of the same, are not intended to replace any pension rights or compensation;
(f) The Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate the Participant’s employment at any time;
f. (g) This Award of the Performance Share Units are an extraordinary item that does not constitute compensation will be deemed accepted unless it is declined by way of any kind for services written notice by the Participant within 30 days of any kind rendered the Grant Date to the Equity Based Compensation Department of the Company or any subsidiarylocated at 000 Xxxxx Xxxxxx, and which is outside the scope of Participant’s employment or service contractXxx Xxxx, if anyXX 00000;
g. (h) The Performance Share Units and any Shares acquired under the Plan, and the income and value of the same, are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal 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 subsidiarypayments;
h. (i) In the event the Participant is not an employee of the Company, the Performance Share Units and the Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment Company or service contract with any subsidiary of the Company;
i. (j) The future value of the underlying Shares is unknown and indeterminable and cannot be predicted with certainty;
j. (k) In consideration of the award of the Performance Share Units, no claim or entitlement to compensation or damages shall arise from termination forfeiture of the Performance Share Units or diminution in value of the Performance Share Units, or Shares acquired upon vesting of the Performance Share Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not later found to be invalid or in breach of local labor laws) employment laws in the jurisdiction where the Participant is employed, or the terms of the Participant’s employment), and in consideration of the award of the Performance Share Units, Participant irrevocably releases the Employer, the Company and any subsidiary of its subsidiaries 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 acknowledging and agreeing to or signing the Notice of Grant, the Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlemententitlement against the Employer, the Company or any of its subsidiaries;
k. In (l) For Purposes of the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, the Participant’s employment or service relationship will terminate effective be considered terminated as of the date that the Participant is no longer actively employed and will not be extended providing services to the Employer, the Company or any of its subsidiaries as determined 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 Administrator shall have in its sole discretion (regardless of the exclusive discretion reason for such termination and whether or not later found to determine when be invalid or in breach of employment laws in the jurisdiction where the Participant is no longer actively employed for purposes or the terms of this Agreementthe Participant’s employment agreement, if any);
l. (m) The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. (n) Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding the Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 1 contract
Samples: Non Annual Performance Share Unit Award Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Units, or benefits in lieu of Performance Share Units, even if Performance Share Units have been awarded repeatedly in the past.
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. Participant’s participation in the Plan is voluntary;
e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. The Award of the Performance Share Units will be deemed accepted unless the Award is declined by way of written notice by the Participant within 30 days of the Award Date to the Equity Based Compensation Department of the Company in New York;
g. Performance Share Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. h. The Performance Share Units are 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;
h. i. In the event the Participant is not an employee of the Company, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. j. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. k. In consideration of the award of the Performance Share Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Units or diminution in value of the Performance Share Units, or Shares acquired upon vesting of the Performance Share Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Units, Participant 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 acknowledging and agreeing to or signing the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. l. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. m. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. n. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 1 contract
Samples: Performance Share Unit Award Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Units, or benefits in lieu of Performance Share Units, even if Performance Share Units have been awarded repeatedly in the past.
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. Participant’s participation in the Plan is voluntary;
e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. The Award of the Performance Share Units will be deemed accepted unless the Award is declined by way of written notice by the Participant within 30 days of the Grant Date to the Equity Based Compensation Department of the Company in New York;
g. Performance Share Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. h. The Performance Share Units are 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;
h. i. In the event the Participant is not an employee of the Company, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. j. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. k. In consideration of the award of the Performance Share Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Units or diminution in value of the Performance Share Units, or Shares acquired upon vesting of the Performance Share Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Units, Participant 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 acknowledging and agreeing to or signing the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. l. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. m. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. n. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 1 contract
Samples: Performance Share Unit Award Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Units, or benefits in lieu of Performance Share Units, even if Performance Share Units have been awarded repeatedly in the past.
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. Participant’s participation in the Plan is voluntary;
e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. Performance Share Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. The Performance Share Units are 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;
h. In the event the Participant is not an employee of the Company, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. In consideration of the award of the Performance Share Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Units or diminution in value of the Performance Share Units, or Shares acquired upon vesting of the Performance Share Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Units, Participant 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 acknowledging and agreeing to or signing the Notice of GrantXxxxx, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 1 contract
Samples: Performance Share Unit Award Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges acknowledges, understands and agrees that:
a. (a) The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. (b) The award of Performance Share Units is exceptional, voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Unitsawards, or benefits in lieu of Performance Share Units, even if Performance Share Units have been awarded repeatedly in the past.;
c. (c) All decisions with respect to future Performance Share Units or other awards, if any, will be at the sole discretion of the Company;
d. (d) The Participant’s participation in the Plan is voluntary;
e. (e) The Performance Share Units and any Shares acquired under the Plan, and the income and value of the same, are not intended to replace any pension rights or compensation;
(f) The Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate the Participant’s employment at any time;
f. (g) This Award of the Performance Share Units will be deemed accepted unless it is declined by way of written notice by the Participant within 30 days of the Grant Date to the Equity Based Compensation Department of the Company located at 000 Xxxxx Xxxxxx, Xxx Xxxx, XX 00000;
(h) The Performance Share Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of the Participant’s employment or service contract, if any;
g. (i) The Performance Share Units and any Shares acquired under the Plan, and the income and value of the same, are not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, dismissal 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 Employer, or the Company or any subsidiaryof its subsidiaries;
h. (j) In the event the Participant is not an employee of the Company, the Performance Share Units and the Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment Company or service contract with any subsidiary of the Company;
i. (k) The future value of the underlying Shares is unknown and indeterminable and cannot be predicted with certainty;
j. (l) In consideration of the award of the Performance Share UnitsAward, no claim or entitlement to compensation or damages shall arise from termination forfeiture of the Performance Share Units or diminution in value of the Performance Share Units, or Shares acquired upon vesting of the Performance Share Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not later found to be invalid or in breach of local labor laws) employment laws in the jurisdiction where the Participant is employed, or the terms of the Participant’s employment), and in consideration of the award of the Performance Share UnitsAward, Participant irrevocably releases the Employer, the Company and any subsidiary of its subsidiaries 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 acknowledging and agreeing to or signing the Notice of Grant, the Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlemententitlement against the Employer, the Company or any of its subsidiaries;
k. In (m) For Purposes of the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, the Participant’s employment or service relationship will terminate effective be considered terminated as of the date that the Participant is no longer actively employed and will not be extended providing services to the Employer, the Company or any of its subsidiaries as determined 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 Administrator shall have in its sole discretion (regardless of the exclusive discretion reason for such termination and whether or not later found to determine when be invalid or in breach of employment laws in the jurisdiction where the Participant is no longer actively employed for purposes or the terms of this Agreementthe Participant’s employment agreement, if any);
l. (n) The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. (o) Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding the Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 1 contract
Samples: Performance Share Unit Award Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the Participant Employee agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended suspended, or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;.
b. The award of Performance Share Units the Stock Options is voluntary and occasional, and does not create any contractual or other right to receive future awards grants of Performance Share UnitsStock Options, or benefits in lieu of Performance Share UnitsStock Options, even if Performance Share Units Stock Options have been awarded granted repeatedly in the past.;
c. All decisions with respect to future awardsStock Option grants, if any, will be at the sole discretion of the Company;
d. ParticipantEmployee’s participation in the Plan is voluntary;
e. ParticipantEmployee’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate ParticipantEmployee’s employment at any time;
f. Performance Share Units are The Stock Option is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. The Performance Share Units are Stock Option 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;
h. In the event the Participant is not an employee Employee of the Company, the Performance Share Units Stock Option and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units Stock Option and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. If the Shares decrease in value, the Stock Option will have no value;
k. If Participant exercises the Stock Option and obtains Shares, the value of the Shares obtained upon exercise may increase or decrease in value, even below the Exercise Price;
l. In consideration of the award of the Performance Share UnitsStock Option, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Units Stock Option or diminution in value of the Performance Share UnitsStock Option, or Shares acquired upon vesting purchased through exercise of the Performance Share UnitsStock Option, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award grant of the Performance Share UnitsStock Option, Participant 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 acknowledging and agreeing to or signing the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. m. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units Stock Options under the Plan and to vest in such Performance Share UnitsStock Options, if any, will terminate effective as of the date that Participant is no longer actively employed 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); furthermore, in the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to exercise the Stock Options after termination of employment, if any, will be measured by the date of termination of active employment and will not be extended by any notice period mandated under local law; the Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. n. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. o. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 1 contract
Samples: Stock Option Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Market Share Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Market Share Units, or benefits in lieu of Performance Market Share Units, even if Performance Market Share Units have been awarded repeatedly in the past.
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. The Participant’s participation in the Plan is voluntary;
e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. Performance Market Share Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of the Participant’s employment or service contract, if any;
g. f. The Performance Market Share Units are 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;
h. g. In the event the Participant is not an employee of the Company, the Performance Market Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Market Share Units and the Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. h. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. i. In consideration of the award of the Performance Market Share Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Market Share Units or diminution in value of the Performance Market Share Units, or Shares acquired upon vesting of the Performance Market Share Units, resulting from termination of the Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Market Share Units, the Participant 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 the Notice of Grant, the Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. In j. Except as provided in Section 4 above, in the event of termination of the Participant’s employment (whether or not in breach of local labor laws), the Participant’s right to receive Performance Market Share Units under the Plan and to vest in such Performance Market Share Units, if any, will terminate effective as of the date that the Participant is no longer actively employed 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 Administrator Committee shall have the exclusive discretion to determine when the Participant is no longer actively employed for purposes of this Agreement;
l. k. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Participant’s participation in the Plan or the Participant’s acquisition or sale of the underlying Shares; and
m. l. The Participant is hereby advised to consult with the Participant’s own personal tax, legal and financial advisors regarding the Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 1 contract
Samples: Market Share Unit Award Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Units, or benefits in lieu of Performance Share Units, even if Performance Share Units have been awarded repeatedly in the past.
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. Participant’s participation in the Plan is voluntary;
e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. Performance Share Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. The Performance Share Units are 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;
h. In the event the Participant is not an employee of the Company, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. In consideration of the award of the Performance Share Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Units or diminution in value of the Performance Share Units, or Shares acquired upon vesting of the Performance Share Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Units, Participant 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 acknowledging and agreeing to or signing the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 1 contract
Samples: Performance Share Unit Award Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the The Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. (a) The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. (b) The award of Performance Share Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Units, or benefits in lieu of Performance Share Units, even if Performance Share Units have been awarded repeatedly in the past.
c. (c) All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. (d) Participant’s participation in the Plan is voluntary;
e. (e) Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. (f) The Award of the Performance Share Units will be deemed accepted unless the Award is declined by way of written notice by the Participant within 30 days of the Award Date to the Equity Based Compensation Department of the Company in New York;
(g) Performance Share Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. (h) The Performance Share Units are 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;
h. (i) In the event the Participant is not an employee of the Company, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. (j) The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. (k) In consideration of the award of the Performance Share Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Units or diminution in value of the Performance Share Units, or Shares acquired upon vesting of the Performance Share Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Units, Participant 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 acknowledging and agreeing to or signing the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. (l) In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Units under the Plan and to vest in such Performance Share Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. (m) The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. (n) Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 1 contract
Samples: Performance Share Unit Award Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Restricted Stock Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Restricted Stock Units, or benefits in lieu of Performance Share Restricted Stock Units, even if Performance Share Restricted Stock Units have been awarded repeatedly in the past.
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. Participant’s participation in the Plan is voluntary;
e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. Performance Share Restricted Stock Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. The Performance Share Restricted Stock Units are 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;
h. In the event the Participant is not an employee of the Company, the Performance Share Restricted Stock Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Restricted Stock Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. In consideration of the award of the Performance Share Restricted Stock Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Restricted Stock Units or diminution in value of the Performance Share Restricted Stock Units, or Shares acquired upon vesting of the Performance Share Restricted Stock Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Restricted Stock Units, Participant 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 acknowledging and agreeing to or signing the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Restricted Stock Units under the Plan and to vest in such Performance Share Restricted Stock Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Estee Lauder Companies Inc)
Discretionary Nature and Acceptance of Award. By accepting this Award, the Participant agrees to be bound by the terms of this Agreement and acknowledges that:
a. The Plan is established voluntarily by the Company, it is discretionary in nature, and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Agreement;
b. The award of Performance Share Restricted Stock Units is voluntary and occasional, and does not create any contractual or other right to receive future awards of Performance Share Restricted Stock Units, or benefits in lieu of Performance Share Restricted Stock Units, even if Performance Share Restricted Stock Units have been awarded repeatedly in the past.
c. All decisions with respect to future awards, if any, will be at the sole discretion of the Company;
d. Participant’s participation in the Plan is voluntary;
e. Participant’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Company or the Employer to terminate Participant’s employment at any time;
f. Performance Share Restricted Stock Units are an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or any subsidiary, and which is outside the scope of Participant’s employment or service contract, if any;
g. The Performance Share Restricted Stock Units are 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;
h. In the event the Participant is not an employee of the Company, the Performance Share Restricted Stock Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract or relationship with the Company; and furthermore, the Performance Share Restricted Stock Units and Participant’s participation in the Plan will not be interpreted to form an employment or service contract with any subsidiary of the Company;
i. The future value of the underlying Shares is unknown and cannot be predicted with certainty;
j. In consideration of the award of the Performance Share Restricted Stock Units, no claim or entitlement to compensation or damages shall arise from termination of the Performance Share Restricted Stock Units or diminution in value of the Performance Share Restricted Stock Units, or Shares acquired upon vesting of the Performance Share Restricted Stock Units, resulting from termination of Participant’s employment by the Company or any subsidiary (for any reason whatsoever and whether or not in breach of local labor laws) and in consideration of the award of the Performance Share Restricted Stock Units, Participant 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 acknowledging and agreeing to or signing the Notice of Grant, Participant shall be deemed irrevocably to have waived his or her right to pursue or seek remedy for any such claim or entitlement;
k. In the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s right to receive Performance Share Restricted Stock Units under the Plan and to vest in such Performance Share Restricted Stock Units, if any, will terminate effective as of the date that Participant is no longer actively employed 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 Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of this Agreement;
l. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding Participant’s participation in the Plan or Participant’s acquisition or sale of the underlying Shares; and
m. Participant is hereby advised to consult with Participant’s own personal tax, legal and financial advisors regarding Participant’s participation in the Plan before taking any action related to the Plan.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Estee Lauder Companies Inc)
