Rights of Optionee. Nothing contained in this Agreement or in any other documents related to this Agreement shall confer upon the Optionee any right to continue in the service or employ of the Company or constitute any contract or agreement of service or employment, or interfere in any way with the right of the Company to reduce the Optionee's compensation or other benefits or to terminate the services or employment of the Optionee, with or without cause, but nothing contained in this Agreement or any document related thereto shall affect any independent contractual right of the Optionee. Nothing contained in this Agreement or any document related hereto shall influence the construction or interpretation of the Company's Certificate of Incorporation or Bylaws regarding service on the Board. The Option shall be payable in shares of Common Stock (subject to adjustment as described above) and no special or separate reserve, fund or deposit shall be made to assure payment of the Option. Neither the Optionee nor any other person shall have any right, title or interest in any fund or in any specific asset (including shares of Common Stock) of the Company by reason of the Option. Neither the provisions of this Agreement (or of any documents related hereto), nor the grant of the Option shall create, or be construed to create, a trust of any kind or a fiduciary relationship between the Company and the Optionee or other person.
Appears in 3 contracts
Samples: Nonqualified Stock Option Agreement (New Century Financial Corp), Nonqualified Stock Option Agreement (New Century Financial Corp), Nonqualified Stock Option Agreement (New Century Financial Corp)
Rights of Optionee. Nothing contained in this Agreement or in any other documents related to this Agreement shall confer upon the Optionee any right to continue in the service or employ of the Company or constitute any contract or agreement of service or employment, or interfere in any way with the right of the Company to reduce the Optionee's ’s compensation or other benefits or to terminate the services or employment of the Optionee, with or without cause, but nothing contained in this Agreement or any document related thereto shall affect any independent contractual right of the Optionee. Nothing contained in this Agreement or any document related hereto shall influence the construction or interpretation of the Company's ’s Certificate of Incorporation or Bylaws regarding service on the Board. The Option shall be payable in shares of Common Stock (subject to adjustment as described above) and no special or separate reserve, fund or deposit shall be made to assure payment of the Option. Neither the Optionee nor any other person shall have any right, title or interest in any fund or in any specific asset (including shares of Common Stock) of the Company by reason of the Option. Neither the provisions of this Agreement (or of any documents related hereto), nor the grant of the Option shall create, or be construed to create, a trust of any kind or a fiduciary relationship between the Company and the Optionee or other person.
Appears in 1 contract
Samples: Nonqualified Stock Option Agreement (New Century Financial Corp)
