Common use of Grantee’s Agreement Clause in Contracts

Grantee’s Agreement. Grantee expressly and specifically agrees that: (a) The grant of the options is special incentive compensation which shall not be taken into account as "wages" or "salary" in determining the amount of payment or benefit to the Grantee under any pension, thrift, stock or deferred compensation plan of the Company or any affiliate, as the case may be; and (b) On behalf of the Grantee's beneficiary, such grant shall not affect the amount of any life insurance coverage available to such beneficiary under any life insurance plan covering employees of the Company or any affiliate.

Grantee’s Agreement. Grantee expressly and specifically agrees that: (a) The grant of the options is special incentive compensation which shall not be taken into account as "“wages" ” or "“salary" ” in determining the amount of payment or benefit to the Grantee under any pension, thrift, stock or deferred compensation plan of the Company or any affiliate, as the case may be; and (b) On behalf of the Grantee's ’s beneficiary, such grant shall not affect the amount of any life insurance coverage available to such beneficiary under any life insurance plan covering employees of the Company or any affiliate.