Common use of Labor Law Clause in Contracts

Labor Law. By accepting this option, the Employee acknowledges that: (a) the grant of this option is a one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (b) all determinations with respect to any future grants, including, but not limited to, the times when the stock options shall be granted, the number of shares subject to each stock option, the Exercise Price, and the time or times when each stock option shall be exercisable, will be at the sole discretion of the Company; (c) the Employee’s participation in the Plan is voluntary; (d) the value of this option is an extraordinary item of compensation which is outside the scope of the Employee’s employment contract, if any; (e) this option is not part of the Employee’s 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; (f) the vesting of this option ceases upon termination of employment for any reason except as may otherwise be explicitly provided in the Plan or this Agreement; (g) the future value of the underlying shares is unknown and cannot be predicted with certainty; (h) if the underlying shares do not increase in value, this option will have no value; (i) this option has been granted to the Employee in the Employee’s status as an employee of the Company or its Affiliates; (j) any claims resulting from this option shall be enforceable, if at all, against the Company; and (k) there shall be no additional obligations for any Affiliate employing the Employee as a result of this option.

Appears in 6 contracts

Samples: Qualified Stock Option Grant Agreement (Applied Materials Inc /De), Qualified Stock Option Grant Agreement (Applied Materials Inc /De), Qualified Stock Option Grant Agreement (Applied Materials Inc /De)

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Labor Law. By accepting this optionaward of Restricted Stock Units, the Employee Participant acknowledges that: (a) the grant of this option award of Restricted Stock Units is a one-time benefit which does not create any contractual or other right to receive future grants of optionsRestricted Stock Units, or benefits in lieu of optionsRestricted Stock Units; (b) subject to the terms of the Plan and the Policy, all determinations with respect to any future grants, including, but not limited to, the times when the stock options Restricted Stock Units shall be granted, the number of shares subject of Common Stock issuable pursuant to each stock optionaward of Restricted Stock Units, the Exercise Price, and the time or times when each stock option Restricted Stock Units shall be exercisablevest, will be at the sole discretion of the Company; (c) the EmployeeParticipant’s participation in the Plan is voluntary; (d) the value this award of this option Restricted Stock Units is an extraordinary item of compensation which is outside the scope of the EmployeeParticipant’s employment or service contract, if any; (e) this option award of Restricted Stock Units is not part of the EmployeeParticipant’s normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of end-of-service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; (f) the vesting of this option award of Restricted Stock Units ceases upon termination of employment service as a member of the Board for any reason except as may otherwise be explicitly provided in the Plan or this Agreement; (g) the future value of the underlying shares of Common Stock is unknown and cannot be predicted with certainty; (h) if the underlying shares do not increase in value, this option will have no value; (i) this option award of Restricted Stock Units has been granted to the Employee Participant in the EmployeeParticipant’s status as an Employee, a non-employee member of the Board or a consultant or independent advisor of the Company or its AffiliatesParent or Subsidiary; (ji) any claims resulting from this option award of Restricted Stock Units shall be enforceable, if at all, against the Company; (j) in consideration of the grant of this award, no claim or entitlement to compensation or damages shall arise from termination of the award or diminution in value of the award or any of the shares issuable under the award from termination of Participant’s Service by the Company or Employer, as applicable (and for any reason whatsoever and whether or not in breach of contract or local labor laws), and Participant irrevocably releases his or her Employer, the Company and its Subsidiaries, as applicable, from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing this Agreement, Participant shall be deemed to have irrevocably waived his or her entitlement to pursue such claim; and (k) there shall in the event that Employer is not the Company, the grant of the award will not be no additional obligations for interpreted to form an employment contract or relationship with the Company and, furthermore, the grant of the Restricted Stock Units will not be interpreted to form an employment contract with the Employer or any Affiliate employing the Employee as a result of this optionSubsidiary.

Appears in 4 contracts

Samples: Restricted Stock Unit Agreement (NetApp, Inc.), Restricted Stock Unit Agreement (NetApp, Inc.), Restricted Stock Unit Agreement (NetApp, Inc.)

Labor Law. By accepting this option, the Employee acknowledges that: (a) the grant of this option is a one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (b) all determinations with respect to any future grants, including, but not limited to, the times when the stock options shall be granted, the number of shares subject to each stock option, the Exercise Price, and the time or times when each stock option shall be exercisable, will be at the sole discretion of the Company; (c) the Employee’s participation in the Plan is voluntary; (d) the value of this option is an extraordinary item of compensation which is outside the scope of the Employee’s employment contract, if any; (e) this option is not part of the Employee’s 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; (f) the vesting of this option ceases upon termination of employment for any reason except as may otherwise be explicitly provided in the Plan or this Agreement; (g) the future value of the underlying shares is unknown and cannot be predicted with certainty; (h) if the underlying shares do not increase in value, this option will have no value; (i) this option has been granted to the Employee in the Employee’s status as an employee of the Company or its Affiliatesaffiliates; (j) any claims resulting from this option shall be enforceable, if at all, against the Company; and (k) there shall be no additional obligations for any Affiliate affiliate employing the Employee as a result of this option.

Appears in 3 contracts

Samples: Nonqualified Stock Option Grant Agreement (Echelon Corp), Nonqualified Stock Option Grant Agreement (Echelon Corp), Nonqualified Stock Option Grant Agreement (Echelon Corp)

Labor Law. By accepting this optionaward of Performance Units, the Employee Participant acknowledges that: (a) the grant of this option award of Performance Units is a one-time benefit which does not create any contractual or other right to receive future grants of optionsPerformance Units, or benefits in lieu of optionsPerformance Units; (b) all determinations with respect to any future grants, including, but not limited to, the times when the stock options Performance Units shall be granted, the number of shares subject of Common Stock issuable pursuant to each stock optionaward of Performance Units, the Exercise Price, and the time or times when each stock option Performance Units shall be exercisablevest, will be at the sole discretion of the Company; (c) the EmployeeParticipant’s participation in the Plan is voluntary; (d) the value this award of this option Performance Units is an extraordinary item of compensation which is outside the scope of the EmployeeParticipant’s employment contract, if any; (e) this option award of Performance Units is not part of the EmployeeParticipant’s normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of end-of-service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; (f) the vesting of this option award of Performance Units ceases upon termination of employment Service for any reason except as may otherwise be explicitly provided in the Plan or this Agreement; (g) the future value of the underlying shares of Common Stock is unknown and cannot be predicted with certainty; (h) if the underlying shares do not increase in value, this option will have no value; (i) this option award of Performance Units has been granted to the Employee Participant in the EmployeeParticipant’s status as an Employee, a non-employee member of the Board or a consultant or independent advisor of the Company or its AffiliatesParent or Subsidiary; (ji) any claims resulting from this option award of Performance Units shall be enforceable, if at all, against the Company; and (kj) there shall be no additional obligations for any Affiliate employing the Employee Participant’s Employer as a result of this optionaward of Performance Units.

Appears in 2 contracts

Samples: Performance Unit Agreement (NetApp, Inc.), Performance Unit Agreement (NetApp, Inc.)

Labor Law. By accepting this optionPerformance Shares Award, the Employee acknowledges that: (a) the grant of this option these Performance Shares is a one-time benefit which does not create any contractual or other right to receive future grants of optionsperformance shares, or benefits in lieu of optionsperformance shares; (b) all determinations with respect to any future grants, including, but not limited to, the times when the stock options when, if at all, any future performance shares shall be granted, the number of performance shares which may be subject to each stock option, the Exercise Price, performance share award and the time or times when each stock option shall be exercisablesuch performance shares may vest, will be at the sole discretion of the Company; (c) the Employee’s participation in the Plan is voluntary; (d) the value of this option these Performance Shares is an extraordinary item of compensation which is outside the scope of the Employee’s employment contract, if any; (e) this option is these Performance Shares are not part of the Employee’s 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; (f) the vesting of this option ceases these Performance Shares will cease upon termination of employment for any reason except as may otherwise be explicitly provided in the Plan or this Agreement; (g) the future value of the underlying shares Shares is unknown and cannot be predicted with certainty; (h) if the underlying shares do not increase in value, this option will these Performance Shares have no value; (i) this option has been granted to the Employee in the Employee’s status as an employee of the Company or its AffiliatesSubsidiaries; (ji) any claims resulting from this option these Performance Shares shall be enforceable, if at all, against the Company; and (kj) there shall be no additional obligations for any Affiliate Subsidiary employing the Employee as a result of this optionthese Performance Shares.

Appears in 2 contracts

Samples: Performance Share Agreement (Polycom Inc), Performance Share Agreement (Polycom Inc)

Labor Law. By accepting this optionOption, the Employee Participant acknowledges that: (a) the grant of this option Option is a one-time benefit which does not create any contractual or other right to receive future grants of optionsOptions, or benefits in lieu of optionsOptions; (b) all determinations with respect to any future grants, including, but not limited to, the times when the stock options Options shall be granted, the number of shares Shares subject to each stock optionOption, the Exercise Price, and the time or times when each stock option Option shall be exercisable, will be at the sole discretion of the Company; (c) the EmployeeParticipant’s participation in the Plan is voluntary; (d) the value of this option Option is an extraordinary item of compensation which is outside the scope of the EmployeeParticipant’s employment contract, if any; (e) this option Option is not part of the EmployeeParticipant’s 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; (f) the vesting of this option Option ceases upon termination Termination of employment Service for any reason except as may otherwise be explicitly provided in the Plan or this Agreement; (g) the future value of the underlying shares Shares is unknown and cannot be predicted with certainty; (h) if the underlying shares Shares do not increase in value, this option Option will have no value; (i) this option Option has been granted to the Employee Participant in accordance with the EmployeeParticipant’s status as an employee a Director of the Company or its AffiliatesSubsidiaries; (j) any claims resulting from this option Option shall be enforceable, if at all, against the Company; and (k) there shall be no additional obligations for claim or entitlement to compensation or damages arises if the Option does not increase in value and the Participant irrevocably releases the Company and its Subsidiaries from any Affiliate employing the Employee as a result of this optionsuch claim that does arise.

Appears in 1 contract

Samples: Nonqualified Stock Option Grant Agreement (Genentech Inc)

Labor Law. By accepting this option, the Employee acknowledges that: (a) the grant of this option is a one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (b) all determinations with respect to any future grants, including, but not limited to, the times when the stock options shall be granted, the number of shares subject to each stock option, the Exercise Price, and the time or times when each stock option shall be exercisable, will be at the sole discretion of the Company; (c) the Employee’s 's participation in the Plan is voluntary; (d) the value of this option is an extraordinary item of compensation which is outside the scope of the Employee’s 's employment contract, if any; (e) this option is not part of the Employee’s 's 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; (f) the vesting of this option ceases upon termination of employment for any reason except as may otherwise be explicitly provided in the Plan or this Agreement; (g) the future value of the underlying shares is unknown and cannot be predicted with certainty; (h) if the underlying shares do not increase in value, this option will have no value; (i) this option has been granted to the Employee in the Employee’s 's status as an employee of the Company or its Affiliates; (j) any claims resulting from this option shall be enforceable, if at all, against the Company; and (k) there shall be no additional obligations for any Affiliate employing the Employee as a result of this option.

Appears in 1 contract

Samples: Nonqualified Stock Option Grant Agreement (Applied Materials Inc /De)

Labor Law. By accepting entering into this optionAgreement, the Employee Optionee acknowledges that: (a) the grant of this option Option is a one-time benefit which does not create any contractual or other right to receive future grants of stock options, or benefits in lieu of stock options; (b) all determinations with respect to any future grants, including, but not limited to, the times when the stock options shall be granted, the number of shares of Company Common Stock subject to each stock option, the Exercise Price, option and the time or times when each the stock option options shall be exercisablevest, will be at the sole discretion of the Company; (c) the EmployeeOptionee’s participation in the Plan is voluntary; (d) the value of this option Option is an extraordinary item of compensation which is outside the scope of the EmployeeOptionee’s employment contract, if any; (e) this option Option is not part of the EmployeeOptionee’s 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; (f) the vesting of this option ceases the Shares subject to the Option will cease upon termination of employment for any reason except as may otherwise be explicitly provided in the Plan or this Agreement; (g) the future value of the underlying shares Shares is unknown and cannot be predicted with certainty; (h) if the underlying shares do not increase in value, this option will have no value; (i) this option Option has been granted to the Employee Optionee in the EmployeeOptionee’s status as an employee a Service Provider of the Company or its AffiliatesParent or one of its Subsidiaries; (ji) any claims resulting from this option Option shall be enforceable, if at all, against the Company; and (kj) there shall be no additional obligations for any Affiliate Parent or Subsidiary employing the Employee Optionee as a result of this optionOption.

Appears in 1 contract

Samples: Stock Option Agreement (Taleo Corp)

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Labor Law. By accepting this optionPerformance Shares award, the Employee acknowledges that: (a) the grant of this option these Performance Shares is a one-time benefit which does not create any contractual or other right to receive future grants of optionsPerformance Shares, or benefits in lieu of optionsPerformance Shares; (b) all determinations with respect to any future grants, including, but not limited to, the times when the stock options Performance Shares shall be granted, the number of shares Shares subject to each stock option, the Exercise Price, Performance Share award and the time or times when each stock option the Performance Shares shall be exercisablevest, will be at the sole discretion of the Company; (c) the Employee’s participation in the Plan is voluntary; (d) the value of this option these Performance Shares is an extraordinary item of compensation which is outside the scope of the Employee’s employment contract, if any; (e) this option is these Performance Shares are not part of the Employee’s 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; (f) the vesting of this option ceases these Performance Shares will cease upon termination of employment for any reason except as may otherwise be explicitly provided in the Plan or this Agreement; (g) the future value of the underlying shares Shares is unknown and cannot be predicted with certainty; (h) if the underlying shares Shares do not increase in value, this option award of Performance Shares will have no value; (i) this option has these Performance Shares have been granted to the Employee in the Employee’s status as an employee of the Company or its Affiliates; (j) any claims resulting from this option these Performance Shares shall be enforceable, if at all, against the Company; and (k) there shall be no additional obligations for any Affiliate employing the Employee as a result of this optionthese Performance Shares.

Appears in 1 contract

Samples: Performance Share Agreement (Applied Materials Inc /De)

Labor Law. By accepting this optionOption, the Employee Participant acknowledges that: (a) the grant of this option Option is a one-time benefit which does not create any contractual or other right to receive future grants of optionsOptions, or benefits in lieu of optionsOptions; (b) all determinations with respect to any future grants, including, but not limited to, the times when the stock options Options shall be granted, the number of shares Shares subject to each stock optionOption, the Exercise Price, and the time or times when each stock option Option shall be exercisable, will be at the sole discretion of the Company; (c) the EmployeeParticipant’s participation in the Plan is voluntary; (d) the value of this option Option is an extraordinary item of compensation which is outside the scope of the EmployeeParticipant’s employment contract, if any; (e) this option Option is not part of the EmployeeParticipant’s 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; (f) the vesting of this option Option ceases upon termination of employment for any reason except as may otherwise be explicitly provided in the Plan or this Agreement; (g) the future value of the underlying shares Shares is unknown and cannot be predicted with certainty; (h) if the underlying shares Shares do not increase in value, this option Option will have no value; (i) this option Option has been granted to the Employee Participant in accordance with the EmployeeParticipant’s status as an employee Employee or Consultant of the Company or its AffiliatesSubsidiaries; (j) any claims resulting from this option Option shall be enforceable, if at all, against the Company; and (k) there shall be no additional obligations for any Affiliate Subsidiary employing the Employee Participant as a result of this optionOption and (l) no claim or entitlement to compensation or damages arises if the Option does not increase in value and the Participant irrevocably releases the Company and its Subsidiaries from any such claim that does arise.

Appears in 1 contract

Samples: Nonqualified Stock Option Grant Agreement (Genentech Inc)

Labor Law. By accepting this optionRSU award, the Employee acknowledges that: (a) 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, as provided in the Plan; (b) the grant of this option these RSUs is a one-time benefit which voluntary and occasional and does not create any contractual or other right to receive future grants of optionsRSUs, or benefits in lieu of optionsRSUs even if RSUs have been awarded repeatedly in the past; (bc) all determinations with respect to any future grants, including, but not limited to, the times when the stock options shall RSUs will be granted, the number of shares RSUs subject to each stock option, the Exercise Price, RSU award and the time or times when each stock option shall be exercisablethe RSU will vest, will be at the sole discretion of the Company; (cd) the Employee’s participation in the Plan is voluntary; (de) the value of this option is these RSUs are an extraordinary item that does not constitute compensation of compensation which is any kind for services of any kind rendered to the Company or to the Employee’s actual employer, and RSUs are outside the scope of the Employee’s employment contract, if any; (ef) this option is these RSUs are not part of the Employee’s normal or expected compensation or salary for purposes any purposes, including, but not limited to calculation of calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments; (fg) neither the award of RSUs nor any provision of this Award Agreement, the Plan or the policies adopted pursuant to the Plan confer upon Employee any right with respect to employment or continuation of current employment, and in the event that Employee is not an employee of the Company or any Affiliate, RSUs shall not be interpreted to form an employment contract or relationship with the Company or any Affiliate; (h) the vesting of this option ceases these RSUs will cease upon termination of employment for any reason except as may otherwise be explicitly provided in the Plan or this Award Agreement; (gi) the future value of the underlying shares Shares is unknown and cannot be predicted with certainty; (hj) if Employee receives Shares, the underlying shares do not value of such Shares acquired on vesting of RSUs may increase or decrease in value, this option will have no value; (ik) this option has these RSUs have been granted to the Employee in the Employee’s status as an employee a Service Provider of the Company or its Affiliates; (j) any claims resulting from this option shall be enforceable, if at all, against the Company; and (kl) there no claim or entitlement to compensation or damages shall arise from any diminution in value of the RSUs or Shares received upon vesting of RSUs resulting from termination of the Employee’s employment by the Company or the Employee’s actual employer (for any reason whatsoever and whether or not in breach of local labor laws) and Employee irrevocably releases the Company and Employee’s actual employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arise, then, by signing this Award Agreement, Employee shall be deemed irrevocably to have waived his or her entitlement to pursue such claim; and (m) in the event of involuntary termination of Employee’s employment (whether or not in breach of local labor laws), Employee’s right to receive RSUs and vest under the Plan, if any, will terminate effective as of the date that Employee is no additional obligations for longer actively employed and will not be extended by any Affiliate employing 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); furthermore, in the event of involuntary termination of employment (whether or not in breach of local labor laws), Employee’s right to receive Shares pursuant to the RSUs after termination of employment, if any, will be measured by the date of termination of Employee’s active employment and will not be extended by any notice period mandated under local law; the Administrator shall have the exclusive discretion to determine when the Employee as a result is no longer actively employed for purposes of this optionthe award of RSUs.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Check Point Software Technologies LTD)

Labor Law. By accepting this optionRestricted Stock award, the Employee acknowledges that: (a) the grant of this option Restricted Stock is a one-time benefit which does not create any contractual or other right to receive future grants of optionsRestricted Stock, or benefits in lieu of optionsRestricted Stock; (b) all determinations with respect to any future grants, including, but not limited to, the times when the stock options Restricted Stock shall be granted, the number of shares Shares subject to each stock optionRestricted Stock award, the Exercise PricePurchase Price per Share, and the time or times when each stock option Restricted Stock shall be exercisablevest, will be at the sole discretion of the Company; (c) the Employee’s participation in the Plan is voluntary; (d) the value of this option Restricted Stock is an extraordinary item of compensation which is outside the scope of the Employee’s employment contract, if any; (e) this option Restricted Stock is not part of the Employee’s 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; (f) the vesting of this option Restricted Stock ceases upon termination of employment for any reason except as may otherwise be explicitly provided in the Plan or this Agreement; (g) the future value of the underlying shares Shares is unknown and cannot be predicted with certainty; (h) if the underlying shares Shares do not increase in value, this option award of Restricted Stock will have no value; (i) this option Restricted Stock has been granted to the Employee in the Employee’s status as an employee of the Company or its Affiliates; (j) any claims resulting from this option Restricted Stock shall be enforceable, if at all, against the Company; and (k) there shall be no additional obligations for any Affiliate employing the Employee as a result of this optionRestricted Stock.

Appears in 1 contract

Samples: Restricted Stock Agreement (Applied Materials Inc /De)

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