Common use of Limitation on Rights; No Right to Future Grants; Extraordinary Item Clause in Contracts

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the Option, Participant acknowledges that: (a) Participant’s participation in the Plan is voluntary; (b) the value of the Option is an extraordinary item which is outside the scope of any employment contract with Participant; (c) the Option is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant will not be entitled to compensation or damages as a consequence of Participant’s forfeiture as provided for in the Plan or this Agreement of any part of the Option as a result of Participant’s termination of employment with the Company or any Subsidiary for any reason; and (d) in the event that Participant is not a direct employee of Company, the grant of the Option will not be interpreted to form an employment relationship with the Company or any Subsidiary and will not be interpreted to form an employment contract with Participant’s employer, the Company or any Subsidiary. The Company shall be under no obligation to advise Participant of the existence, maturity or termination of any of Participant’s rights hereunder and Participant shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Participant’s rights or privileges hereunder.

Appears in 4 contracts

Samples: Option Agreement (Adept Technology Inc), Adept Technology Inc, Adept Technology Inc

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Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the OptionAward, Participant acknowledges that: (a) Participant’s participation in the Plan is voluntary; (b) the value of the Option Award is an extraordinary item which is outside the scope of any employment contract with Participant; (c) the Option Award is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant will not be entitled to compensation or damages as a consequence of Participant’s forfeiture as provided for in the Plan or this Agreement of any part of the Option Unvested Shares as a result of Participant’s termination of employment with the Company or any Subsidiary for any reason; and (d) in the event that Participant is not a direct employee of Company, the grant of the Option Award will not be interpreted to form an employment relationship with the Company or any Subsidiary and will not be interpreted to form an employment contract with Participant’s employer, the Company or any Subsidiary. The Company shall be under no obligation to advise Participant of the existence, maturity or termination of any of Participant’s rights hereunder and Participant shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Participant’s rights or privileges hereunder.

Appears in 4 contracts

Samples: Restricted Stock Award Agreement (Adept Technology Inc), Restricted Stock Award Agreement (Adept Technology Inc), Restricted Stock Award Agreement (Adept Technology Inc)

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the OptionAward, Participant acknowledges that: (ai) Participant’s 's participation in the Plan is voluntary; (bii) the value of the Option Award is an extraordinary item which is outside the scope of any employment contract with Participant; (ciii) the Option Award is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant will not be entitled to compensation or damages as a consequence of Participant’s 's forfeiture as provided for in the Plan or this Agreement of any part unvested portion of the Option Award as a result of Participant’s termination 's Termination of employment Service with the Company or any Subsidiary Related Company for any reason; and (div) in the event that Participant is not a direct employee of Company, the grant of the Option Award will not be interpreted to form an employment relationship with the Company or any Subsidiary Related Company and the grant of the Award will not be interpreted to form an employment contract with the Participant’s 's employer, the Company or any SubsidiaryRelated Company. The Company shall be under no obligation whatsoever to advise the Participant of the existence, maturity or termination of any of Participant’s 's rights hereunder and Participant shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Participant’s 's rights or privileges hereunder.

Appears in 4 contracts

Samples: Restricted Stock Grant Agreement (Midsouth Bancorp Inc), Restricted Stock Award Agreement (Washington Mutual Inc), Washington Mutual Inc

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the Option, Participant acknowledges that: (ai) Participant’s 's participation in the Plan is voluntary; (bii) the value of the Option is an extraordinary item which is outside the scope of any employment contract with Participant; (ciii) the Option is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant will not be entitled to compensation or damages as a consequence of Participant’s 's forfeiture as provided for in the Plan or this Agreement expiration of any part unvested portion of the Option as a result of Participant’s termination 's Termination of employment Service with the Company or any Subsidiary Related Company for any reason; and (div) in the event that Participant is not a direct employee of Company, the grant of the Option will not be interpreted to form an employment relationship with the Company or any Subsidiary Related Company and the grant of the Option will not be interpreted to form an employment contract with the Participant’s 's employer, the Company or any SubsidiaryRelated Company. The Company shall be under no obligation whatsoever to advise the Participant of the existence, maturity or termination of any of Participant’s 's rights hereunder and Participant shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Participant’s 's rights or privileges hereunder.

Appears in 3 contracts

Samples: Washington Mutual Inc, Washington Mutual Inc, Washington Mutual Inc

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the Option, Participant acknowledges that: (a) Participant’s participation in the Plan is voluntary; (b) the value of the Option is an extraordinary item which is outside the scope of any employment or service contract with Participant; (c) the Option is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant will not be entitled to compensation or damages as a consequence of Participant’s forfeiture as provided for in the Plan or this Agreement of any part of the Option as a result of Participant’s termination of employment or services with the Company or any Subsidiary for any reason; and (d) in the event that Participant is not a direct employee of Company, the grant of the Option will not be interpreted to form an employment relationship with the Company or any Subsidiary and will not be interpreted to form an employment contract with Participant’s employer, the Company or any Subsidiary. The Company shall be under no obligation to advise Participant of the existence, maturity or termination of any of Participant’s rights hereunder and Participant shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Participant’s rights or privileges hereunder.

Appears in 3 contracts

Samples: Option Agreement (Adept Technology Inc), Option Agreement (Adept Technology Inc), Adept Technology Inc

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the OptionAward, Participant acknowledges that: (a) Participant’s participation in the Plan is voluntary; (b) the value of the Option Award is an extraordinary item which is outside the scope of any employment contract with Participant; (c) the Option Award is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant will not be entitled to compensation or damages as a consequence of Participant’s forfeiture as provided for in the Plan or this Agreement of any part unvested portion of the Option as a result of Participant’s termination of employment with the Company or any Subsidiary Award for any reason; and (d) in the event that Participant is not a direct employee of Company, the grant of the Option Award will not be interpreted to form an employment relationship with the Company or any Subsidiary and the grant of the Award will not be interpreted to form an employment contract with Participant’s employer, the Company or any Subsidiary. The Company shall be under no obligation whatsoever to advise Participant of the existence, maturity or termination of any of Participant’s rights hereunder and Participant shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Participant’s rights or privileges hereunder.

Appears in 3 contracts

Samples: Corporation Restricted Stock Unit Award Agreement (Arcbest Corp /De/), Corporation Restricted Stock Unit Award Agreement (Arkansas Best Corp /De/), Corporation Restricted Stock Unit Award Agreement (Arkansas Best Corp /De/)

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the OptionAward, Participant acknowledges that: (a) Participant’s participation in the Plan is voluntary; (b) the value of the Option Award is an extraordinary item which is outside the scope of any employment contract with Participant; (c) the Option Award is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant will not be entitled to compensation or damages as a consequence of Participant’s forfeiture as provided for in the Plan or this Agreement of any part unvested portion of the Option as a result of Participant’s termination of employment with the Company or any Subsidiary Award for any reason; and (d) in the event that Participant is not a direct employee of Company, the grant of the Option Award will not be interpreted to form an employment relationship with the Company or any Subsidiary and the grant of the Award will not be interpreted to form US 3225260v.3 an employment contract with Participant’s employer, the Company or any Subsidiary. The Company shall be under no obligation whatsoever to advise Participant of the existence, maturity or termination of any of Participant’s rights hereunder and Participant shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Participant’s rights or privileges hereunder.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Arcbest Corp /De/), Corporation Restricted Stock Unit Award Agreement (Arcbest Corp /De/)

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the OptionAward, Participant acknowledges that: (ai) Participant’s participation in the Plan is voluntary; (bii) the value of the Option Award is an extraordinary item which is outside the scope of any employment contract with Participant; (ciii) the Option Award is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant will not be entitled to compensation or damages as a consequence of Participant’s forfeiture as provided for in the Plan or this Agreement of any part unvested portion of the Option Award as a result of Participant’s termination Termination of employment Service with the Company or any Subsidiary Related Company for any reason; and (div) in the event that Participant is not a direct employee of Company, the grant of the Option Award will not be interpreted to form an employment relationship with the Company or any Subsidiary Related Company and the grant of the Award will not be interpreted to form an employment contract with the Participant’s employer, the Company or any SubsidiaryRelated Company. The Company shall be under no obligation whatsoever to advise the Participant of the existence, maturity or termination of any of Participant’s rights hereunder and Participant shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Participant’s rights or privileges hereunder.

Appears in 2 contracts

Samples: Restricted Stock Award Agreement (Washington Mutual, Inc), Restricted Stock Award Agreement (Washington Mutual, Inc)

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the Option, Participant acknowledges that: (ai) Participant’s participation in the Plan is voluntary; (bii) the value of the Option is an extraordinary item which is outside the scope of any employment contract with Participant; (ciii) the Option is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant will not be entitled to compensation or damages as a consequence of Participant’s forfeiture as provided for in the Plan or this Agreement expiration of any part unvested portion of the Option as a result of Participant’s termination Termination of employment Service with the Company or any Subsidiary Related Company for any reason; and (div) in the event that Participant is not a direct employee of Company, the grant of the Option will not be interpreted to form an employment relationship with the Company or any Subsidiary Related Company and the grant of the Option will not be interpreted to form an employment contract with the Participant’s employer, the Company or any SubsidiaryRelated Company. The Company shall be under no obligation whatsoever to advise the Participant of the existence, maturity or termination of any of Participant’s rights hereunder and Participant shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Participant’s rights or privileges hereunder.

Appears in 2 contracts

Samples: Stock Option Agreement (Washington Mutual, Inc), Stock Option Agreement (Washington Mutual, Inc)

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the OptionRestricted Shares, Participant Grantee acknowledges that: (a) ParticipantGrantee’s participation in the Plan is voluntary; (b) the value of the Option Restricted Shares is an extraordinary item which is outside the scope of any employment or service contract with ParticipantGrantee; (c) the Option is Restricted Shares are not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant Grantee will not be entitled to compensation or damages as a consequence of ParticipantGrantee’s forfeiture as provided for in the Plan or this Agreement of any part of the Option Restricted Shares as a result of ParticipantGrantee’s termination of employment or services with the Company or any Subsidiary subsidiary of the Company for any reason; and (d) in the event that Participant Grantee is not a direct employee of the Company or any subsidiary of the Company, the grant of the Option Restricted Shares will not be interpreted to form an employment relationship with the Company or any Subsidiary subsidiary of the Company and will not be interpreted to form an employment contract with Participant’s employer, the Company or any Subsidiarysubsidiary of the Company. The Company shall be under no obligation to advise Participant Grantee of the existence, maturity or termination of any of ParticipantGrantee’s rights hereunder and Participant Grantee shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of ParticipantGrantee’s rights or privileges hereunder.

Appears in 1 contract

Samples: Restricted Stock Agreement (Falconstor Software Inc)

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Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the OptionAward, Participant Optionee acknowledges that: (ai) Participant’s Optionee's participation in the Plan is voluntary; (bii) the value of the Option Award is an extraordinary item which is outside the scope of any employment contract with ParticipantOptionee; (ciii) the Option Award is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant Optionee will not be entitled to compensation or damages as a consequence of Participant’s Optionee's forfeiture as provided for in the Plan or this Agreement of any part unvested portion of the Option Award as a result of Participant’s termination Optionee's Termination of employment Service with the Company MidSouth or any Subsidiary Related Company for any reason; and (div) in the event that Participant Optionee is not a direct employee of CompanyMidSouth, the grant of the Option Award will not be interpreted to form an employment relationship with the Company MidSouth or any Subsidiary Related Company and the grant of the Award will not be interpreted to form an employment contract with Participant’s the Optionee's employer, the Company MidSouth or any SubsidiaryRelated Company. The Company MidSouth shall be under no obligation whatsoever to advise Participant the Optionee of the existence, maturity or termination of any of Participant’s Optionee's rights hereunder and Participant Optionee shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Participant’s Optionee's rights or privileges hereunder.

Appears in 1 contract

Samples: Restricted Stock Grant Agreement (Midsouth Bancorp Inc)

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the OptionAward, Participant Grantee acknowledges that: (ai) ParticipantGrantee’s participation in the Plan is voluntary; (bii) the value of the Option Award is an extraordinary item which is outside the scope of any employment contract with ParticipantGrantee; (ciii) the Option Award is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant Grantee will not be entitled to compensation or damages as a consequence of ParticipantXxxxxxx’s forfeiture as provided for in the Plan or this Agreement of any part unvested portion of the Option Award as a result of ParticipantGrantee’s termination of employment service with the Company or any Subsidiary for any reason; and (div) in the event that Participant Grantee is not a direct employee of Company, the grant of the Option Award will not be interpreted to form an employment relationship with the Company or any Subsidiary and the grant of the Award will not be interpreted to form an employment contract with Participantthe Grantee’s employer, employer or the Company or any SubsidiaryCompany. The Company shall be under no obligation whatsoever to advise Participant the Grantee of the existence, maturity or termination of any of ParticipantXxxxxxx’s rights hereunder and Participant Xxxxxxx shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of ParticipantXxxxxxx’s rights or privileges hereunder.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Korn Ferry International)

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the Option, the Participant acknowledges that: (ai) the Participant’s participation in the Plan is voluntary; (bii) the value of the Option is an extraordinary item which is outside the scope of any employment contract with the Participant; (ciii) the Option is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and the Participant will not be entitled to compensation or damages as a consequence of the Participant’s forfeiture as provided for in the Plan or this Agreement of any part unvested portion of the Option as a result of the Participant’s termination of employment service with the Company or any Subsidiary for any reason; and (div) in the event that the Participant is not a direct employee of Company, the grant of the Option will not be interpreted to form an employment relationship with the Company or any Subsidiary and the grant of the Option will not be interpreted to form an employment contract with the Participant’s employer, employer or the Company or any SubsidiaryCompany. The Company shall be under no obligation whatsoever to advise the Participant of the existence, maturity or termination of any of the Participant’s rights hereunder and the Participant shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of the Participant’s rights or privileges hereunder.

Appears in 1 contract

Samples: Stock Option Agreement (Korn Ferry International)

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the OptionAward, Participant acknowledges that: (a) Participant’s participation in the Plan is voluntary; (b) the value of the Option Award is an extraordinary item which is outside the scope of any employment contract with Participant; (c) the Option Award is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant will not be entitled to compensation or damages as a consequence of Participant’s forfeiture as provided for in the Plan or this Agreement of any part unvested portion of the Option Award as a result of Participant’s termination Termination of employment Service with the Company or any Subsidiary for any reason; and (d) in the event that Participant is not a direct employee of Company, the grant of the Option Award will not be interpreted to form an employment relationship with the Company or any Subsidiary and the grant of the Award will not be interpreted to form an employment contract with Participant’s employer, the Company or any Subsidiary. The Company shall be under no obligation whatsoever to advise Participant of the existence, maturity or termination of any of Participant’s rights hereunder and Participant shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Participant’s rights or privileges hereunder.

Appears in 1 contract

Samples: Corporation Restricted Stock Award Agreement (Arkansas Best Corp /De/)

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the OptionAward, Participant acknowledges that: (a) Participant’s participation in the Plan is voluntary; (b) the value of the Option Award is an extraordinary item which is outside the scope of any employment contract with Participant; (c) the Option Award is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Participant will not be entitled to compensation or damages as a consequence of Participant’s forfeiture as provided for in the Plan or this Agreement of any part of the Option unvested Shares as a result of Participant’s termination of employment with the Company or any Subsidiary for any reason; and (d) in the event that Participant is not a direct employee of Company, the grant of the Option Award will not be interpreted to form an employment relationship with the Company or any Subsidiary and will not be interpreted to form an employment contract with Participant’s employer, the Company or any Subsidiary. The Company shall be under no obligation to advise Participant of the existence, maturity or termination of any of Participant’s rights hereunder and Participant shall be responsible for familiarizing himself or herself with all matters contained herein and in the Plan which may affect any of Participant’s rights or privileges hereunder.

Appears in 1 contract

Samples: Performance Stock Award Agreement (Adept Technology Inc)

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