Common use of Discretionary Nature of Plan; No Vested Rights Clause in Contracts

Discretionary Nature of Plan; No Vested Rights. The Participant 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 the Deferred Units 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 Deferred Units in the future. 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 Common Units subject to the award, and the vesting provisions. Any amendment, modification or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the Participant’s employment with the Employer.

Discretionary Nature of Plan; No Vested Rights. The Participant Optionee 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 the Deferred Units Options 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 Deferred Units Options in the future. 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 Common Units subject to the award, and the vesting provisions. Any amendment, modification or termination of the Plan shall not constitute a change or impairment of the terms and conditions of the ParticipantOptionee’s employment with the Employer.