Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units contemplated hereunder, the Participant expressly acknowledges that (a) the grant of Performance Units is a one-time benefit that does not create any contractual or other right to receive future grants of performance units, or benefits in lieu of performance units; (b) all determinations with respect to future grants of Performance Units, if any, including the grant date, the number of Performance Units granted and the performance period, will be at the sole discretion of the Corporation; (c) the Participant’s acknowledgment and acceptance of this Agreement is voluntary; (d) the value of the Performance Units is an extraordinary item of compensation that is outside the scope of the Participant’s employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (e) grants of performance units are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis; (f) the future value of the Performance Units is unknown, cannot be predicted with certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any time. In addition, the Participant understands, acknowledges and agrees that except as expressly provided hereunder, the Participant will have no rights to compensation or damages related to Performance Unit proceeds in consequence of the termination of the Participant’s employment for any reason whatsoever and whether or not in breach of contract.
Appears in 7 contracts
Samples: Performance Unit Agreement (L3 Technologies, Inc.), Performance Unit Agreement (L3 Technologies, Inc.), Performance Unit Agreement (L 3 Communications Corp)
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units contemplated hereunderevidenced hereby, the Participant you expressly acknowledges acknowledge that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) the grant of Performance Units is a one-time benefit that does not create any contractual or other right to receive future grants of performance unitsUnits, or benefits in lieu of performance unitsUnits; (bc) all determinations with respect to future grants of Performance Unitsgrants, if any, including the grant date, the number of Performance Units granted and the performance periodvesting dates, will be at the sole discretion of the CorporationCompany; (cd) your participation in the Participant’s acknowledgment and acceptance of this Agreement Plan is voluntary; (de) the value of the Performance Units is an extraordinary item of compensation that is outside the scope of the Participant’s your employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance units Units are not part of normal or expected compensation for any purpose purpose, and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives you waive any claim on such basis; (fg) the grant of an equity interest in the Company gives rise to the Company’s need (on behalf of itself and its stockholders) to protect itself from Conduct Detrimental to the Company, and your promises described in Paragraph 7 (Return of Share Value) above are designed to protect the Company and its stockholders from Conduct Detrimental to the Company; (h) vesting of Units ceases upon termination of Employment for any reason except as may otherwise be explicitly provided in the Plan document or in this Agreement; (i) the future value of the Performance Units is unknown, unknown and cannot be predicted with certainty and may be zerocertainty; and (gj) the Plan is discretionary in nature you understand, acknowledge and may be suspended or terminated by the Corporation at any time. In addition, the Participant understands, acknowledges and agrees agree that except as expressly provided hereunder, the Participant you will have no rights to compensation or damages related to Performance Unit proceeds Units or Shares in consequence of the termination of the Participant’s employment your Employment for any reason whatsoever and whether or not in breach of contract.
Appears in 6 contracts
Samples: Stock Unit Agreement (Dell Inc), Stock Unit Agreement (Dell Inc), Stock Unit Agreement (Dell Inc)
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units contemplated hereunderevidenced hereby, the Participant you expressly acknowledges acknowledge that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) the grant of Performance Units is a one-time benefit that does not create any contractual or other right to receive future grants of performance unitsUnits, or benefits in lieu of performance unitsUnits; (bc) all determinations with respect to future grants of Performance Unitsgrants, if any, including the grant date, the number of Performance Units granted and the performance periodvesting dates, will be at the sole discretion of the CorporationCompany; (cd) your participation in the Participant’s acknowledgment and acceptance of this Agreement Plan is voluntary; (de) the value of the Performance Units is an extraordinary item of compensation that is outside the scope of the Participant’s your employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance units Units are not part of normal or expected compensation for any purpose purpose, and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives you waive any claim on such basis; (fg) the grant of an equity interest in the Company gives rise to the Company’s need (on behalf of itself and its stockholders) to protect itself from Conduct Detrimental to the Company, and your promises described in Paragraph7 (Return of Share Value) above are designed to protect the Company and its stockholders from Conduct Detrimental to the Company; (h) vesting of Units ceases upon termination of Employment for any reason except as may otherwise be explicitly provided in the Plan document or in this Agreement; (i) the future value of the Performance Units is unknown, unknown and cannot be predicted with certainty and may be zerocertainty; and (gj) the Plan is discretionary in nature you understand, acknowledge and may be suspended or terminated by the Corporation at any time. In addition, the Participant understands, acknowledges and agrees agree that except as expressly provided hereunder, the Participant you will have no rights to compensation or damages related to Performance Unit proceeds Units or Shares in consequence of the termination of the Participant’s employment your Employment for any reason whatsoever and whether or not in breach of contract.
Appears in 5 contracts
Samples: Stock Unit Agreement (Dell Inc), Stock Unit Agreement (Dell Inc), Dell Inc
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units Shares contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) the grant of Performance Units Shares is a one-time benefit that does not create any contractual or other right to receive future grants of performance unitsPerformance Shares, or benefits in lieu of performance unitsPerformance Shares; (bc) all determinations with respect to future grants of Performance UnitsShares, if any, including the grant date, the number of Performance Units Shares granted and the performance periodapplicable vesting terms, will be at the sole discretion of the CorporationCompany; (cd) the Participant’s acknowledgment and acceptance of this Agreement participation in the Plan is voluntary; (de) the value of the Performance Units Shares is an extraordinary item of compensation that is outside the scope of the Participant’s employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance units Performance Shares are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis, and, for the avoidance of doubt, the Performance Shares shall not constitute an “acquired right” under the applicable law of any jurisdiction; and (fg) the future value of the Performance Units underlying Shares is unknown, unknown and cannot be predicted with certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any timecertainty. In addition, the Participant understands, acknowledges and agrees that except as expressly provided hereunder, the Participant will have no rights to compensation or damages related to Performance Unit Share proceeds in consequence of the termination of the Participant’s employment for any reason whatsoever and whether or not in breach of contract.
Appears in 4 contracts
Samples: Performance Share Agreement (Park Hotels & Resorts Inc.), Performance Share Agreement (Hilton Grand Vacations Inc.), Performance Share Agreement (Hilton Worldwide Holdings Inc.)
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units contemplated hereunderevidenced hereby, the Participant you expressly acknowledges acknowledge that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) the grant of Performance Units is a one-time benefit that does not create any contractual or other right to receive future grants of performance unitsUnits, or benefits in lieu of performance unitsUnits; (bc) all determinations with respect to future grants of Performance Unitsgrants, if any, including the grant date, the number of Performance Units granted and the performance periodvesting dates, will be at the sole discretion of the CorporationCompany; (cd) your participation in the Participant’s acknowledgment and acceptance of this Agreement Plan is voluntary; (de) the value of the Performance Units is an extraordinary item of compensation that is outside the scope of the Participant’s your employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance units Units are not part of normal or expected compensation for any purpose purpose, and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives you waive any claim on such basis; (fg) the grant of an equity interest in the Company gives rise to the Company's need (on behalf of itself and its stockholders) to protect itself from Conduct Detrimental to the Company, and your promises described in Paragraph 6 (Return of Share Value) above are designed to protect the Company and its stockholders from Conduct Detrimental to the Company; (h) vesting of Units ceases upon termination of Employment for any reason except as may otherwise be explicitly provided in the Plan document or in this Agreement; (i) the future value of the Performance Units is unknown, unknown and cannot be predicted with certainty and may be zerocertainty; and (gj) the Plan is discretionary in nature you understand, acknowledge and may be suspended or terminated by the Corporation at any time. In addition, the Participant understands, acknowledges and agrees agree that except as expressly provided hereunder, the Participant you will have no rights to compensation or damages related to Performance Unit proceeds Units or Shares in consequence of the termination of the Participant’s employment your Employment for any reason whatsoever and whether or not in breach of contract.
Appears in 3 contracts
Samples: Stock Unit Agreement (Dell Inc), Stock Unit Agreement (Dell Inc), Stock Unit Agreement (Dell Inc)
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any time; (b) the grant of Performance Units is a one-time benefit that does not create any contractual or other right to receive future grants of performance unitsPerformance Units, or benefits in lieu of performance unitsPerformance Units; (bc) all determinations with respect to future grants of Performance Units, if any, including the grant date, the number of Performance Units shares of Stock granted and the performance restricted period, will be at the sole discretion of the Corporation; (cd) the Participant’s acknowledgment and acceptance of this Agreement participation in the Plan is voluntary; (de) the value of the Performance Units is an extraordinary item of compensation that is outside the scope of the Participant’s employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance units Performance Units are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis; and (fg) the future value of the Performance Units Stock is unknown, unknown and cannot be predicted with certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any timecertainty. In addition, except for the rights and benefits expressly provided herein, the Participant understands, acknowledges and agrees that except as expressly provided hereunder, the Participant will have no rights to compensation or damages related to the Performance Unit proceeds Units in consequence of the termination of the Participant’s employment for any reason whatsoever and whether or not in breach of contract.
Appears in 3 contracts
Samples: Performance Unit Award Agreement (Science Applications International Corp), Performance Retention Award Agreement (Engility Holdings, Inc.), Performance Unit Award Agreement (Engility Holdings, Inc.)
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units Shares contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) the grant of Performance Units Shares is a one-time benefit that does not create any contractual or other right to receive future grants of performance unitsPerformance Shares, or benefits in lieu of performance unitsPerformance Shares; (bc) all determinations with respect to future grants of Performance UnitsShares, if any, including the grant date, the number of Performance Units Shares granted and the performance periodapplicable vesting terms, will be at the sole discretion of the CorporationCompany; (cd) the Participant’s acknowledgment and acceptance of this Agreement participation in the Plan is voluntary; (de) the value of the Performance Units Shares is an extraordinary item of compensation that is outside the scope of the Participant’s employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance units Performance Shares are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis, and, for the avoidance of doubt, the Performance Shares shall not constitute an “acquired right” under the applicable law of any jurisdiction; and (fg) the future value of the Performance Units underlying Shares is unknown, unknown and cannot be predicted with certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any timecertainty. In addition, the Participant understands, acknowledges and agrees that except as expressly provided hereunder, the Participant will have no rights to compensation or damages related to Performance Unit Share proceeds in consequence of the termination of the Participant’s employment Employment for any reason whatsoever and whether or not in breach of contract.
Appears in 2 contracts
Samples: Performance Restricted Share Agreement (Pinnacle Foods Inc.), Performance Restricted Share Agreement (Pinnacle Foods Inc.)
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units Restricted Shares contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any time; (b) the grant of Performance Units Restricted Shares is a one-time benefit that does not create any contractual or other right to receive future grants of performance unitsRestricted Shares, or benefits in lieu of performance unitsRestricted Shares; (bc) all determinations with respect to future grants of Performance UnitsRestricted Shares, if any, including the grant date, the number of Performance Units Shares granted and the performance restricted period, will be at the sole discretion of the Corporation; (cd) the Participant’s acknowledgment and acceptance of this Agreement participation in the Plan is voluntary; (de) the value of the Performance Units Restricted Shares is an extraordinary item of compensation that is outside the scope of the Participant’s employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance units Restricted Shares are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis; and (fg) the future value of the Performance Units underlying Shares is unknown, unknown and cannot be predicted with certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any timecertainty. In addition, the Participant understands, acknowledges and agrees that except as expressly provided hereunder, the Participant will have no rights to compensation or damages related to Performance Unit Restricted Share proceeds in consequence of the termination of the Participant’s employment for any reason whatsoever and whether or not in breach of contract.
Appears in 2 contracts
Samples: Restricted Stock Agreement (L3 Technologies, Inc.), Restricted Stock Agreement (L3 Technologies, Inc.)
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units contemplated hereunderevidenced hereby, the Participant you expressly acknowledges acknowledge that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) the grant of Performance Units is a one-time benefit that does not create any contractual or other right to receive future grants of performance unitsUnits, or benefits in lieu of performance unitsUnits; (bc) all determinations with respect to future grants of Performance Unitsgrants, if any, including the grant date, the number of Performance Units granted and the performance periodvesting dates, will be at the sole discretion of the CorporationCompany; (cd) your participation in the Participant’s acknowledgment and acceptance of this Agreement Plan is voluntary; (de) the value of the Performance Units is an extraordinary item of compensation that is outside the scope of the Participant’s your employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance units Units are not part of normal or expected compensation for any purpose purpose, and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives you waive any claim on such basis; (fg) the grant of an equity interest in the Company gives rise to the Company’s need (on behalf of itself and its stockholders) to protect itself from Conduct Detrimental to the Company, and your promises described in Paragraph 6 (Return of Share Value) above are designed to protect the Company and its stockholders from Conduct Detrimental to the Company; (h) vesting of Units ceases upon termination of Employment for any reason except as may otherwise be explicitly provided in the Plan document or in this Agreement; (i) the future value of the Performance Units is unknown, unknown and cannot be predicted with certainty and may be zerocertainty; and (gj) the Plan is discretionary in nature you understand, acknowledge and may be suspended or terminated by the Corporation at any time. In addition, the Participant understands, acknowledges and agrees agree that except as expressly provided hereunder, the Participant you will have no rights to compensation or damages related to Performance Unit proceeds Units or Shares in consequence of the termination of the Participant’s employment your Employment for any reason whatsoever and whether or not in breach of contract.
Appears in 2 contracts
Samples: Electronic Agreement (Dell Inc), Stock Unit Agreement (Dell Inc)
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units RSUs contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) the grant of Performance Units RSUs is a one-time benefit that does not create any contractual or other right to receive future grants of performance unitsRSUs, or benefits in lieu of performance unitsRSUs; (bc) all determinations with respect to future grants of Performance UnitsRSUs, if any, including the grant date, the number of Performance Units Shares granted and the performance periodapplicable vesting terms, will be at the sole discretion of the Corporation; (c) the Participant’s acknowledgment and acceptance of this Agreement is voluntaryCompany; (d) the Participant’s participation in the Plan is voluntary; (e) the value of the Performance Units RSUs is an extraordinary item of compensation that is outside the scope of the Participant’s employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance units RSUs are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis, and for the avoidance of doubt, the RSUs shall not constitute an “acquired right” under the applicable law of any jurisdiction; and (fg) the future value of the Performance Units underlying Shares is unknown, unknown and cannot be predicted with certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any timecertainty. In addition, the Participant understands, acknowledges and agrees that except as expressly provided hereunder, the Participant will have no rights to compensation or damages related to Performance Unit RSU proceeds in consequence of the termination of the Participant’s employment Service for any reason whatsoever and whether or not in breach of contract.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Pinnacle Foods Inc.)
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units Shares contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any time; (b) the grant of Performance Units Shares is a one-time benefit that does not create any contractual or other right to receive future grants of performance unitsshares, or benefits in lieu of performance unitsshares; (bc) all determinations with respect to future grants of Performance Unitsperformance shares, if any, including the grant date, the number of Performance Units shares of Stock granted and the performance restricted period, will be at the sole discretion of the Corporation; (cd) the Participant’s acknowledgment and acceptance of this Agreement participation in the Plan is voluntary; (de) the value of the Performance Units Shares is an extraordinary item of compensation that is outside the scope of the Participant’s employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance units shares are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis; and (fg) the future value of the Performance Units Stock is unknown, unknown and cannot be predicted with certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any timecertainty. In addition, except for the rights and benefits expressly provided herein, the Participant understands, acknowledges and agrees that except as expressly provided hereunder, the Participant will have no rights to compensation or damages related to the Performance Unit proceeds Shares in consequence of the termination of the Participant’s employment for any reason whatsoever and whether or not in breach of contract.
Appears in 1 contract
Samples: Performance Share Award Agreement (Engility Holdings, Inc.)
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Restricted Units contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any time; (b) the grant of Performance Restricted Units is a one-time benefit that does not create any contractual or other right to receive future grants of performance restricted units, or benefits in lieu of performance restricted units; (bc) all determinations with respect to future grants of Performance Unitsrestricted units, if any, including the grant date, the number of Performance Units Shares granted and the performance restricted period, will be at the sole discretion of the Corporation; (cd) the Participant’s acknowledgment and acceptance of this Agreement 's participation in the Plan is voluntary; (de) the value of the Performance Restricted Units is an extraordinary item of compensation that is outside the scope of the Participant’s 's employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance restricted units are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis; and (fg) the future value of the Performance Units underlying Shares is unknown, unknown and cannot be predicted with certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any timecertainty. In addition, the Participant understands, acknowledges and agrees that except as expressly provided hereunder, the Participant will have no rights to compensation or damages related to Performance Unit restricted unit proceeds in consequence of the termination of the Participant’s 's employment for any reason whatsoever and whether or not in breach of contract.
Appears in 1 contract
Samples: Plan Restricted Stock Unit Agreement (L 3 Communications Holdings Inc)
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units contemplated hereunder, the Participant expressly acknowledges that (a) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any time; (b) the grant of Performance Units is a one-time benefit that does not create any contractual or other right to receive future grants of performance unitsPerformance Units, or benefits in lieu of performance unitsPerformance Units; (bc) all determinations with respect to future grants of Performance Units, if any, including the grant date, the number of Performance Units shares of Stock granted and the performance restricted period, will be at the sole discretion of the Corporation; (cd) the Participant’s acknowledgment and acceptance of this Agreement participation in the Plan is voluntary; (de) the value of the Performance Units is an extraordinary item of compensation that is outside the scope of the Participant’s employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance units Performance Units are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis; and (fg) the future value of the Performance Units Stock is unknown, unknown and cannot be predicted with certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any timecertainty. In addition, except for the rights and benefits expressly provided herein, the Participant understands, acknowledges and agrees that except as expressly provided hereunder, the Participant will have no rights to compensation or damages related to the Performance Unit proceeds Units in consequence of the termination of the Participant’s employment for any reason whatsoever and whether or not in breach of contract. 25.
Appears in 1 contract
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Units contemplated hereunderevidenced hereby, the Participant you expressly acknowledges acknowledge that (a) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) the grant of Performance Units is a one-time benefit that does not create any contractual or other right to receive future grants of performance unitsUnits, or benefits in lieu of performance unitsUnits; (bc) all determinations with respect to future grants of Performance Unitsgrants, if any, including the grant date, the number of Performance Units granted and the performance periodvesting dates, will be at the sole discretion of the CorporationCompany; (cd) your participation in the Participant’s acknowledgment and acceptance of this Agreement Plan is voluntary; (de) the value of the Performance Units is an extraordinary item of compensation that is outside the scope of the Participant’s your employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance units Units are not part of normal or expected compensation for any purpose purpose, and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives you waive any claim on such basis; (fg) the grant of an equity interest in the Company gives rise to the Company's need (on behalf of itself and its stockholders) to protect itself from Conduct Detrimental to the Company, and your promises described in Section 6 (Return of Share Value) above are designed to protect the Company and its stockholders from Conduct Detrimental to the Company; (h) vesting of Units ceases upon termination of Employment for any reason except as may otherwise be explicitly provided in the Plan document or in this Agreement; and (i) the future value of the Performance Units is unknown, unknown and cannot be predicted with certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any timecertainty. In addition, the Participant understandsyou understand, acknowledges acknowledge and agrees agree that except as expressly provided hereunder, the Participant you will have no rights to compensation or damages related to Performance Unit proceeds Units or Shares in consequence of the termination of the Participant’s employment your Employment for any reason whatsoever and whether or not in breach of contract.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Dell Technologies Inc.)
Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By accepting this Agreement and the grant of the Performance Restricted Stock Units contemplated hereunder, the Participant expressly acknowledges that that: (a) the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) the grant of Performance Restricted Stock Units is a one-time benefit that does not create any contractual or other right to receive future grants of performance restricted stock units, or benefits in lieu of performance restricted stock units; (bc) all determinations with respect to future grants of Performance Unitsrestricted stock units, if any, including the grant date, the number of Performance Units Shares granted and the performance restricted period, will be at the sole discretion of the Corporation; (c) the Participant’s acknowledgment and acceptance of this Agreement is voluntaryCompany or Committee; (d) the Participant’s participation in the Plan is voluntary; (e) the value of the Performance Restricted Stock Units is an extraordinary item of compensation that is outside the scope of the Participant’s employment contract, if any, and nothing can or must automatically be inferred from such employment contract or its consequences; (ef) grants of performance restricted stock units are not part of normal or expected compensation for any purpose and are not to be used for calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant waives any claim on such basis; and (fg) the future value of the Performance Units underlying Shares is unknown, unknown and cannot be predicted with certainty and may be zero; and (g) the Plan is discretionary in nature and may be suspended or terminated by the Corporation at any timecertainty. In addition, the Participant understands, acknowledges and agrees that except as expressly provided hereunder, the Participant will have no rights to compensation or damages related to Performance Unit restricted unit proceeds in consequence of the termination of the Participant’s employment for any reason whatsoever and whether or not in breach of contract.
Appears in 1 contract
Samples: Restricted Stock Unit Agreement (Affinia Group Intermediate Holdings Inc.)