PARTICIPANT’S RIGHTS. The granting of the Option shall impose no obligation upon Participant to exercise such Option. Participant shall have no equity interest in Corporation, nor shall Participant have any voting, dividend, liquidation or dissolution rights with respect to any capital stock of Corporation solely by reason of having the Option or having executed this Agreement. Upon the issuance and delivery of a certificate for Option Shares after exercise of the Option, Participant shall have the rights of a stockholder with respect to such Option Shares and to receive all dividends or other distributions paid or made with respect thereto. Nothing in this Agreement or the Plan shall confer upon Participant the right to continue as an employee, director, or officer or affect any right which Corporation may have to remove such Participant as such.
Appears in 5 contracts
Samples: Non Qualified Stock Option Agreement (Community Financial Group Inc), Non Qualified Stock Option Agreement (Community Financial Group Inc), Stock Option Agreement (Community Financial Group Inc)
PARTICIPANT’S RIGHTS. The granting of the Option shall impose no obligation upon Participant to exercise such Option. Participant shall have no equity interest in Corporation, nor shall Participant have any voting, dividend, liquidation or dissolution rights with respect to any capital stock of Corporation solely by reason of having the Option or having executed this Agreement. Upon the issuance and delivery of a certificate for Option Shares after exercise of the Option, Participant shall have the rights of a stockholder shareholder with respect to such Option Shares and to receive all dividends or other distributions paid or made with respect thereto. Nothing in this Agreement or the Plan shall confer upon Participant the right to continue as an employee, director, or officer in the employ of Corporation or affect any right which Corporation may have to remove terminate such Participant as suchemployment at any time.
Appears in 4 contracts
Samples: Incentive Stock Option Agreement (Franklin Financial Network Inc.), Non Qualified Stock Option Agreement (Franklin Financial Network Inc.), Incentive Stock Option Agreement (Franklin Financial Network Inc.)
PARTICIPANT’S RIGHTS. The granting of the Option shall impose no obligation upon Participant to exercise such Option. Participant shall have no equity interest in Corporation, nor shall Participant have any voting, dividend, liquidation or dissolution rights with respect to any capital stock of Corporation solely by reason of having the Option or having executed this Agreement. Upon the issuance and delivery of a certificate for Option Shares after exercise of the Option, Participant shall have the rights of a stockholder with respect to such Option Shares and to receive all dividends or other distributions paid or made with respect thereto. Nothing in this Agreement or the Plan shall confer upon Participant the right to continue as an employee, director, or officer in the employ of Corporation or affect any right which Corporation may have to remove terminate such Participant as suchemployment at any time.
Appears in 2 contracts
Samples: Incentive Stock Option Agreement (Frontier National Corp), Incentive Stock Option Agreement (Frontier National Corp)
PARTICIPANT’S RIGHTS. The granting of the Option shall impose no obligation upon Participant to exercise such Option. Participant shall have no equity interest in Corporation, nor shall Participant have any voting, dividend, liquidation or dissolution rights with respect to any capital stock of Corporation solely by reason of having the Option or having executed this Agreement. Upon the issuance and delivery of a certificate for Option Shares after exercise of the Option, Participant shall have the rights of a stockholder with respect to such Option Shares and to receive all dividends or other distributions paid or made with respect thereto. Nothing in this Agreement or the Plan shall confer upon Participant the right to continue as an employee, director, or officer a member of the Board of Directors of Corporation or affect any right which Corporation may have to remove such Participant as sucha director of Corporation.
Appears in 1 contract
Samples: Nonqualified Stock Option Agreement (Frontier National Corp)
PARTICIPANT’S RIGHTS. The granting of the Option shall impose no obligation upon .f Participant to exercise such Option. Participant shall have no equity interest in Corporation, nor shall Participant have any voting, dividend, liquidation or dissolution rights with respect to any capital stock of Corporation solely by reason of having the Option or having executed this Agreement. Upon the issuance and delivery of a certificate for Option Shares after exercise of the Option, Participant shall have the rights of a stockholder with respect to such Option Shares and to receive all dividends or other distributions paid or made with respect thereto. Nothing in this Agreement or the Plan shall confer upon Participant the right to continue as an employee, director, or officer or affect any right which Corporation may have to remove such Participant as such.
Appears in 1 contract
Samples: Non Qualified Stock Option Agreement (Community Financial Group Inc)