Common use of Other Benefit and Compensation Programs Clause in Contracts

Other Benefit and Compensation Programs. Unless otherwise specifically determined by the Board, the Option is intended to be "non-qualified compensation" under the Code and shall not be deemed a part of Holder's regular, recurring compensation for purposes of calculating payments or benefits from any Company benefit plan or severance program. Further, the Company may adopt other compensation programs, plans or arrangements as it deems appropriate or necessary. Nothing in this Agreement shall be deemed to confer upon Holder any right to receive additional options under the Plan.

Appears in 2 contracts

Samples: Stock Option Agreement (Booth Creek Ski Holdings Inc), Stock Option Agreement (Booth Creek Ski Holdings Inc)

AutoNDA by SimpleDocs

Other Benefit and Compensation Programs. Unless otherwise specifically determined by the Board, the Option is intended to be "non-qualified nonqualified compensation" under the Code and shall not be deemed a part of Holder's regular, recurring compensation for purposes of calculating payments or benefits from any Company benefit plan or severance program. Further, the Company may adopt other compensation programs, plans or arrangements as it deems appropriate or necessary. Nothing in this Agreement shall be deemed to confer upon Holder any right to receive additional options under the Plan.

Appears in 2 contracts

Samples: Stock Option Agreement (Booth Creek Ski Holdings Inc), Stock Option Agreement (Booth Creek Ski Holdings Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!