Common use of Outstanding Stock Rights Clause in Contracts

Outstanding Stock Rights. The Employee acknowledges that he holds the stock options and restricted stock units (the “Stock Rights”) set forth on Annex B attached hereto and incorporated herein by this reference. The Employee acknowledges and agrees that he has no other options, stock units, or other rights received from the Company to purchase any stock or securities of the Company or any affiliate thereof (collectively, the “Issuers”). The Employee’s outstanding Stock Rights will continue to vest through the Termination Date. Any vested stock options must be exercised within 90 days of the Termination Date. The Employee understands and agrees that all Stock Rights which have not vested on or before the Termination Date will expire on the Termination Date, and vested stock options not exercised within 90 days of the Termination Date will expire on the 91st day following the Termination Date. The Employee acknowledges and agrees that he does not enter into this Agreement on the basis of or in reliance in any way on any representation or assurance of any Issuer or any officer, director, employee or agent of any Issuer regarding the current or future value of his Stock Rights or of any stock or securities of any Issuer.

Appears in 2 contracts

Samples: Separation Agreement and General Release (Lsi Corp), Confidential Separation Agreement and General Release (Lsi Corp)

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Outstanding Stock Rights. The Employee acknowledges that he she holds the stock options and restricted stock units (the “Stock Rights”) set forth on Annex B attached hereto and incorporated herein by this reference. The Employee acknowledges and agrees that he she has no other options, stock units, or other rights received from the Company to purchase any stock or securities of the Company or any affiliate thereof (collectively, the “Issuers”). The Employee’s outstanding Stock Rights will continue to vest through the Termination Date. Any vested stock options must be exercised within 90 days of the Termination Date. The Employee understands and agrees that all Stock Rights which have not vested on or before the Termination Date will expire on the Termination Date, and vested stock options not exercised within 90 days of the Termination Date will expire on the 91st day following the Termination Date. The Employee acknowledges and agrees that he she does not enter into this Agreement on the basis of or in reliance in any way on any representation or assurance of any Issuer or any officer, director, employee or agent of any Issuer regarding the current or future value of his her Stock Rights or of any stock or securities of any Issuer.

Appears in 1 contract

Samples: Separation Agreement and General Release (Lsi Corp)

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Outstanding Stock Rights. The Employee acknowledges that he holds the stock options and restricted stock units (the “Stock Rights”) set forth on Annex B Exhibit “B” attached hereto and incorporated herein by this reference. The Employee acknowledges and agrees that he has no other options, stock units, or other rights received from the Company to purchase any stock or securities of the Company or any affiliate thereof (collectively, the “Issuers”). The Employee’s outstanding Stock Rights will continue to vest through the Termination Date. Any vested stock options must be exercised within 90 days of the Termination Date. The Employee understands and agrees that all Stock Rights which have not vested on or before the Termination Date will expire on the Termination Date, and vested stock options not exercised within 90 days of the Termination Date will expire on the 91st day following the Termination Date. The Employee acknowledges and agrees that he does not enter into this Agreement on the basis of or in reliance in any way on any representation or assurance of any Issuer or any officer, director, employee or agent of any Issuer regarding the current or future value of his Stock Rights or of any stock or securities of any Issuer.

Appears in 1 contract

Samples: Separation Agreement (Lsi Corp)

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