Extraordinary Benefit Clause Samples
The Extraordinary Benefit clause defines the rights and obligations of parties when one party receives a benefit that exceeds what was originally anticipated under the agreement. Typically, this clause outlines the process for identifying such benefits, such as unexpected financial gains or advantages, and may require the benefiting party to disclose the benefit and potentially share it with the other party or adjust compensation accordingly. Its core practical function is to ensure fairness by preventing one party from disproportionately profiting from unforeseen circumstances, thereby maintaining the intended balance of the contractual relationship.
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Extraordinary Benefit. The value of the Performance Stock Units and any other awards granted under the Plan is an extraordinary item of compensation outside the scope of the Participant’s employment (and the Participant’s employment contract, if any). Any grant under the Plan, including the grant of the Performance Stock Units, is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension, or retirement benefits or similar payments.
Extraordinary Benefit. The value of the Cash Award is an extraordinary item of compensation outside the scope of the Participant’s employment (and the Participant’s employment contract, if any). The Cash Award is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension, or retirement benefits or similar payments.
Extraordinary Benefit. The value of the Option and any other awards granted under the Plan is an extraordinary item of compensation outside the scope of the Participant’s employment (and the Participant’s employment contract, if any). Any grant under the Plan, including the grant of the Option, is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension, or retirement benefits or similar payments.
Extraordinary Benefit. The Participant’s participation in the Plan is voluntary. The value of this Award and any other Awards granted under the Plan is an extraordinary item of compensation outside the scope of the Participant’s employment (and the Participant’s employment contract, if any). Any grant under the Plan, including the grant of the Award, is not part of the Participant’s normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, holiday pay, pension, or retirement benefits or similar payments.