Common use of Limitation of Implied Rights Clause in Contracts

Limitation of Implied Rights. (a) Neither a Participant nor any other person shall, by reason of this Agreement, acquire any right in or title to any assets, funds or property of the Company or any Related Company whatsoever, including, without limitation, any specific funds, assets, or other property which the Company or any Related Company, in their sole discretion, may set aside in anticipation of a liability hereunder. A Participant shall have only a contractual right to the Stock to the extent provided herein, unsecured by any assets of the Company or any Related Company. Nothing contained herein shall constitute a guarantee that the assets of the Company shall be sufficient to pay any benefits to any person. (b) This Agreement does not constitute a contract of employment, and does not give Participant any right to be retained in the employ of the Company or any Related Company, nor any right or claim to any benefit hereunder, unless such right or claim has specifically accrued under the terms of this Agreement. The Option hereunder does not confer upon the Participant any right as a stockholder of the Company prior to the date on which the Participant exercises the Option in accordance with the terms of this Agreement.