NO OBLIGATION TO MAINTAIN RELATIONSHIP. The Company is not by the Option obligated to continue the Participant as an employee or consultant of the Company or of an Affiliate. The Participant acknowledges: (i) that the grant of the Option is discretionary in nature and 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; (ii) that all determinations with respect to any such future grants, including, but not limited to, the times when options shall be granted, the number of shares subject to each option, the option price, and the time or times when each option shall be exercisable, will be at the sole discretion of the Company; (iii) that the value of the Option is an extraordinary item of compensation which is outside the scope of the Participant’s employment contract, if any; (iv) that the Participant’s participation in this Agreement is voluntary; and (v) that the Option is not part of 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.
Appears in 4 contracts
Samples: Non Qualified Stock Option Agreement (Interleukin Genetics Inc), Non Qualified Stock Option Agreement (Synta Pharmaceuticals Corp), Non Qualified Stock Option Agreement (Synta Pharmaceuticals Corp)
