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Common use of Effect Upon Employment and Performance of Services Clause in Contracts

Effect Upon Employment and Performance of Services. This provision supplements Section 11 of the Performance Unit Agreement: PUs and Dividend Equivalents shall not form part of the employment or services conditions of the Recipient, nor shall they be treated (either at the time when it might apply or in any period prior thereto or any period thereafter) as remuneration for the purpose of pension arrangements nor shall they form any other employment or services related entitlement. PUs and Dividend Equivalents shall not be included in the calculation of a possible severance payment and the Recipient waives all rights (if any) that he or she may have in this regard.

Appears in 5 contracts

Samples: Performance Unit Agreement (Iron Mountain Inc), Performance Unit Agreement (Iron Mountain Inc), Performance Unit Agreement (Iron Mountain Inc)

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Effect Upon Employment and Performance of Services. This provision supplements Section 11 of the Performance Unit Agreement: PUs and Dividend Equivalents shall not form part of the employment or services conditions of the Recipient, nor shall they be treated (either at the time when it might apply or in any period prior thereto or any period thereafter) as remuneration for the purpose of pension arrangements nor shall they form any other employment or services related entitlement. PUs and Dividend Equivalents shall not be included in the 2 Updated as of February 19, 2016 calculation of a possible severance payment and the Recipient waives all rights (if any) that he or she may have in this regard.

Appears in 1 contract

Samples: Performance Unit Agreement (Iron Mountain Inc)

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