Common use of Discretionary Nature of Plan; No Right to Additional Awards Clause in Contracts

Discretionary Nature of Plan; No Right to Additional Awards. The Employee acknowledges and agrees that the Plan is discretionary in nature and limited in duration, and may be amended, cancelled, or terminated by the Company, in its sole discretion, at any time. The grant of an Award under the Plan is a one-time benefit and does not create any contractual or other right to receive an Award or benefits in lieu of an Award. Future Awards, if any, will be at the sole discretion of the Company, including, but not limited to, the form and timing of an award, the number of Shares subject to the award, and the vesting provisions.

Appears in 16 contracts

Samples: Performance Stock Units Award Agreement (Borgwarner Inc), Performance Stock Units Award Agreement (Borgwarner Inc), Performance Share Award Agreement (Borgwarner Inc)

AutoNDA by SimpleDocs

Discretionary Nature of Plan; No Right to Additional Awards. The Employee acknowledges and agrees that the Plan is discretionary in nature and limited in duration, duration and may be amended, cancelled, or terminated by the Company, in its sole discretion, at any time. The grant of an Award under the Plan is a one-time benefit and does not create any contractual or other right to receive an Award or benefits in lieu of an Award. Future Awardsawards, if any, will be at the sole discretion of the Company, including, but not limited to, the form and timing of an award, the number of Shares subject to the award, and the vesting provisions.

Appears in 9 contracts

Samples: Restricted Stock Award Agreement (Borgwarner Inc), Restricted Stock Award Agreement (Borgwarner Inc), Restricted Stock Agreement (Phinia Inc.)

Discretionary Nature of Plan; No Right to Additional Awards. The Employee acknowledges and agrees that the Plan is discretionary in nature and limited in duration, duration and may be amended, cancelled, or terminated by the Company, in its sole discretion, at any time. The grant of an Award under the Plan is a one-time benefit and does not create any contractual or other right to receive an Award or benefits in lieu of an Award. Future Awardsawards, if any, will be at the sole discretion of 4889-5554-6973.2 the Company, including, but not limited to, the form and timing of an award, the number of Shares subject to the award, and the vesting provisions.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Borgwarner Inc)

Discretionary Nature of Plan; No Right to Additional Awards. The Employee acknowledges and agrees that the Plan is discretionary in nature and limited in duration, and may be amended, cancelled, or terminated by the Company, in its sole discretion, at any time. The grant of an this Award under the Plan is a one-time benefit and does not create any contractual or other right to receive an Award additional award under the Plan or benefits in lieu of an Awardadditional award under the Plan. Future Awardsawards, if any, will be at the sole discretion of the Company, including, but not limited to, the form and timing of an award, the number of Shares subject to the an award, and the vesting provisionsprovisions of an award.

Appears in 1 contract

Samples: Performance Stock Unit Award Agreement (Phinia Inc.)

AutoNDA by SimpleDocs

Discretionary Nature of Plan; No Right to Additional Awards. The Employee acknowledges and agrees that the Plan is discretionary in nature and limited in duration, duration and may be amended, cancelled, or terminated by the Company, in its sole discretion, at any time. The grant of an this Award under the Plan is a one-time benefit and does not create any contractual or other right to receive an additional Award under the Plan or benefits in lieu of an Awardadditional Award under the Plan. Future Awardsawards, if any, will be at the sole discretion of the Company, including, but not limited to, the form and timing of an award, the number of Shares subject to the an award, and the vesting provisionsprovisions of an award.

Appears in 1 contract

Samples: Restricted Stock Agreement (Phinia Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!