Common use of Employee Acknowledgments Clause in Contracts

Employee Acknowledgments. By accepting this grant of Stock Units, the Employee acknowledges and agrees that the Plan is established voluntarily by the Company, it is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time unless otherwise provided in the Plan or this Agreement. The Employee acknowledges that all decisions with respect to future grants, if any, will be at the sole discretion of the Company. The Employee’s participation in the Plan shall not create a right to further employment with Employer and shall not interfere with the ability of Employer to terminate the Employee’s employment relationship at any time with or without cause and it is expressly agreed and understood that employment is terminable at the will of either party, insofar as permitted by law. The Employee agrees that stock units, stock unit grants and resulting benefits are an extraordinary item that do not constitute compensation of any kind for services of any kind rendered to the Company or the Employer and are outside the scope of the Employee’s employment contract, if any. Stock units, stock unit grants and resulting benefits 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 benefits or similar payments insofar as permitted by law. In the event that the Employee is not an employee of the Company, this grant of Stock Units will not be interpreted to form an employment contract or relationship with the Company, the Employer or any Subsidiary or Affiliate of the Company. The Employee acknowledges that the future value of the Shares is unknown, may increase or decrease from the date of grant or vesting of the Stock Unit and cannot be predicted with certainty. In consideration of this grant of Stock Units, no claim or entitlement to compensation or damages shall arise from termination of this grant of Stock Units or diminution in value of this grant of Stock Units resulting from the Employee’s Termination of Employment by the Company or the Employer (for any reason whatsoever and whether or not in breach of Applicable Laws).

Employee Acknowledgments. By accepting this grant of Stock Units, the Employee acknowledges and agrees that the Plan is established voluntarily by the Company, it is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time unless otherwise provided in the Plan or this Agreement. The Employee acknowledges that all decisions with respect to future grants, if any, will be at the sole discretion of the Company. The Employee’s participation in the Plan shall not create a right to further employment with Employer and shall not interfere with the ability of Employer to terminate the Employee’s employment relationship at any time with or without cause and it is expressly agreed and understood that employment is terminable at the will of either party, insofar as permitted by law. The Employee agrees that stock unitsStock Units, stock unit grants and resulting benefits are an extraordinary item that do not constitute compensation of any kind for services of any kind rendered to the Company or the Employer and are outside the scope of the Employee’s employment contract, if any, unless otherwise specifically provided in such employment contract. Stock unitsUnits, stock unit grants and resulting benefits 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 benefits or similar payments insofar as permitted by law. In the event that the Employee is not an employee of the Company, this This grant of Stock Units will not be interpreted to form an employment contract or relationship with the Company, the Employer or any Subsidiary subsidiary or Affiliate affiliate of the Company. The Employee acknowledges that the future value of the Shares is unknown, may increase or decrease from the date of grant or vesting of the Stock Unit Units and cannot be predicted with certainty. In consideration of this grant of Stock Units, no claim or entitlement to compensation or damages shall arise from termination of this grant of Stock Units or diminution in value of this grant of Stock Units resulting from the Employee’s Termination termination of Employment employment by the Company or the Employer (for any reason whatsoever and whether or not in breach of Applicable Lawsany applicable laws. Upon the Employee’s termination of employment (whether or not such termination constitutes a breach of local labor laws), the Employee’s right to receive benefits shall be only as set forth in this Agreement and his or her termination of employment shall be effective as of the date that the Employee 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); and the Board or Compensation Committee shall have the exclusive discretion to determine when the Employee is no longer actively employed for purposes of this grant of Stock Units. This entire Section 10 is subject to any provision to the contrary set forth in an employment contract, if any, between the Employee and the Company.

Employee Acknowledgments. By accepting this grant of Stock Units, the Employee acknowledges and agrees that the Plan is established voluntarily by the Company, it is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time unless otherwise provided in the Plan or this Agreement. The Employee acknowledges that all decisions with respect to future grants, if any, will be at the sole discretion of the Company. The Employee’s 's participation in the Plan shall not create a right to further employment with Employer and shall not interfere with the ability of Employer to terminate the Employee’s 's employment relationship at any time with or without cause and it is expressly agreed and understood that employment is terminable at the will of either party, insofar as permitted by law. The Employee agrees that stock unitsStock Units, stock unit grants and resulting benefits are an extraordinary item that do not constitute compensation of any kind for services of any kind rendered to the Company or the Employer and are outside the scope of the Employee’s 's employment contract, if any, unless otherwise specifically provided in such employment contract. Stock unitsUnits, stock unit grants and resulting benefits 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 benefits or similar payments insofar as permitted by law. In the event that the Employee is not an employee of the Company, this This grant of Stock Units will not be interpreted to form an employment contract or relationship with the Company, the Employer or any Subsidiary subsidiary or Affiliate affiliate of the Company. The Employee acknowledges that the future value of the Shares is unknown, may increase or decrease from the date of grant or vesting of the Stock Unit Units and cannot be predicted with certainty. In consideration of this grant of Stock Units, no claim or entitlement to compensation or damages shall arise from termination of this grant of Stock Units or diminution in value of this grant of Stock Units resulting from the Employee’s Termination 's termination of Employment employment by the Company or the Employer (for any reason whatsoever and whether or not in breach of Applicable Lawsany applicable laws. Upon the Employee's termination of employment (whether or not such termination constitutes a breach of local labor laws), the Employee's right to receive benefits shall be only as set forth in this Agreement and his or her termination of employment shall be effective as of the date that the Employee 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); and the Board or Compensation Committee shall have the exclusive discretion to determine when the Employee is no longer actively employed for purposes of this grant of Stock Units. This entire Section 10 is subject to any provision to the contrary set forth in an employment contract, if any, between the Employee and the Company.