Common use of Employment-at-Will; Rights as Shareholder Clause in Contracts

Employment-at-Will; Rights as Shareholder. This Agreement shall not confer on Optionee any right with respect to continuance of employment by the Company or any of its Affiliates, nor will it interfere in any way with the right of the Company to terminate such employment. Optionee’s employment relationship with the Company and its Affiliates shall be employment-at-will, and nothing in this Agreement shall be construed as creating an employment contract for any specified term between Optionee and the Company or any Affiliate. Optionee shall have no rights as a shareholder with respect to shares subject to this Option until such shares have been issued to Optionee upon exercise of this Option. No adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities or other property), distributions or other rights for which the record date is prior to the date such shares are issued, except as provided in Section 12 of the Plan.

Appears in 3 contracts

Samples: Agreement (Bluestem Brands, Inc.), Nonqualified Stock Option Agreement (Bluestem Brands, Inc.), Incentive Stock Option Agreement (Bluestem Brands, Inc.)

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Employment-at-Will; Rights as Shareholder. This Agreement shall not confer on Optionee Participant any right with respect to the continuance of employment by the Company or any of its Affiliates, nor will it interfere in any way with the right of the Company to terminate such employment. OptioneeParticipant’s employment relationship with the Company and its Affiliates shall be employment-at-will, and nothing in this Agreement shall be construed as creating an employment contract for any specified term between Optionee Participant and the Company or any Affiliate. Optionee Participant shall have no rights as a shareholder with respect to shares subject to this Option until such shares have been issued to Optionee Participant upon exercise of this Option. No adjustment shall be made for dividends (ordinary or extraordinary, whether in cash, securities or other property), distributions or other rights for which the record date is prior to the date such shares are issued, except as provided in Section 12 of the Plan.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Titan Machinery Inc.)

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