Common use of Service Acknowledgements Clause in Contracts

Service Acknowledgements. The Grantee acknowledges and agrees as follows: (a) The execution and delivery of this Agreement and the granting of the PRSUs hereunder shall not constitute or be evidence of any agreement or understanding, express or implied, on the part of the Company or any of its Subsidiaries to employ the Grantee for any specific period. Moreover, the PRSUs do not become part of a contract of employment or any other employment relationship with the Grantee's employer. (b) The award of the PRSUs hereunder does not entitle the Grantee to any benefit other than that specifically granted under this Agreement and under the Plan, nor to any future grants or other benefits under the Plan or any similar plan, even if PRSUs have ever been granted in the past or have repeatedly been granted in the past. Any benefits granted under this Agreement and under the Plan are extraordinary and not part of the Grantee's ordinary or expected compensation, and shall not be considered as part of such compensation in the event of severance, redundancy or resignation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, end-of-service payments, bonuses, long-service awards, pension, welfare or retirement benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or any of its Subsidiaries. The Grantee understands and accepts that the benefits granted under the Plan are entirely at the grace and discretion of the Company and that the Company retains the right to amend or terminate the Plan, and/or the Grantee's participation therein, at any time, at the Company's sole discretion and without notice, subject to applicable law. (c) Nothing in this Agreement shall confer upon the Grantee any right to continue in the service of the Company or a Subsidiary or interfere in any way with any right of the Company or a Subsidiary to terminate the employment of the Grantee at any time, subject to applicable law. (d) The Grantee is voluntarily participating in the Plan. (e) The grant of PRSUs will not be interpreted to form an employment contract with the Company or any of its Subsidiaries. (f) Neither the Company nor any Subsidiary is providing any tax, legal or financial advice or making any recommendations regarding the Grantee's participation in the Plan or the Grantee's acquisition or sale of the Shares. (g) In consideration of the grant of the PRSUs, no claim or entitlement to compensation or damages arises from termination of the PRSUs or diminution in value of the PRSUs or Shares acquired upon settlement of the PRSUs and the Grantee irrevocably releases the Company and its Subsidiaries from any such claim that may arise. If, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen then, by accepting the PRSUs, the Grantee shall be deemed irrevocably to have waived the Grantee's entitlement to pursue such a claim. (h) Any notice period mandated under applicable law shall not be treated as service for the purpose of determining the vesting of the PRSUs; and the Grantee's right to vesting of Shares in settlement of the PRSUs after termination of service, if any, will be measured by the date of termination of the Grantee's active service and will not be extended by any notice period mandated under applicable law. Subject to the foregoing and the provisions of the Plan, the Company, in its sole discretion, shall determine whether the Grantee's service has terminated and the effective date of such termination. (i) The future value of the underlying Shares is unknown and cannot be predicted with certainty. The value of the Shares may increase or decrease.

Appears in 1 contract

Samples: Performance Contingent Restricted Stock Unit Award Agreement (Avon Products Inc)

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Service Acknowledgements. The Grantee acknowledges You acknowledge and agrees agree as follows: (a) The execution and delivery of this Agreement and the granting of the PRSUs Option hereunder shall not constitute or be evidence of any agreement or understanding, express or implied, on the part of the Company or any of its Subsidiaries to employ the Grantee you for any specific period. Moreover, the PRSUs do not become part of a contract of employment or any other employment relationship with the Grantee's employer. (b) The award of the PRSUs hereunder Option is voluntary and occasional, and does not entitle the Grantee you to any benefit other than that specifically granted under this Agreement and under the PlanAgreement, nor or to any future grants awards or other benefits under the Plan or any similar plan, even if PRSUs Options have ever been granted in the past or have repeatedly been granted in the past. Any benefits granted under this Agreement and under the Plan are extraordinary and not part of the Grantee's your ordinary or expected compensation, and shall not be considered as part of such compensation in the event of severance, redundancy or resignation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, end-of-service payments, bonuses, long-service awards, pension, welfare or retirement benefits or similar payments payments, and in no event should be considered as compensation for, or relating in any way to, past services for the Company or any of its Subsidiaries. The Grantee understands and accepts that the benefits granted under the Plan are entirely at the grace and discretion of the Company and that the Company retains the right to amend or terminate the Plan, and/or the Grantee's participation therein, at any time, at the Company's sole discretion and without notice, subject to applicable law. (c) Nothing in this Agreement shall confer upon the Grantee you any right to continue in the service of the Company or a Subsidiary or interfere in any way with any right of the Company or a Subsidiary to terminate the your employment of the Grantee at any time, subject to applicable law. (d) The Grantee is voluntarily participating in You are accepting the PlanOption and entering into this Agreement voluntarily. (e) The grant of PRSUs will not Plan may be interpreted to form an employment contract with modified, amended, suspended or terminated by the Company or at any of its Subsidiariestime, to the extent permitted by the Plan. (f) All decisions with respect to future options or other grants, if any, will be at the sole discretion of the Committee, subject to the terms of the Employment Contract. (g) The future value of the Shares underlying the Option is unknown, indeterminable and cannot be predicted with certainty. The value of the Shares may increase or decrease. (h) Neither the Company nor any Subsidiary is providing any tax, legal or financial advice or making any recommendations regarding the Grantee's participation in the Plan this award or the Grantee's your acquisition or sale of the Shares. (gi) In consideration of the grant of the PRSUsOption, (i) you shall have no claim or entitlement to compensation or damages arises arising from (x) forfeiture of the Option resulting from termination of your service (for any reason whether or not in breach of local law) or otherwise pursuant to the PRSUs terms of this Agreement or (y) diminution in value of the PRSUs Option or Shares acquired issued upon settlement exercise of the PRSUs Option and the Grantee (ii) you irrevocably releases release the Company and its Subsidiaries from any such claim that may arise. If, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen then, by accepting the PRSUsOption, the Grantee you shall be deemed irrevocably to have waived the Grantee's your entitlement to pursue such a claim. (hj) Any notice period mandated under the Employment Contract or otherwise arising in connection with an involuntary termination of your employment by the Company (and, if applicable, by any Subsidiary for whom you are employed) other than for Cause shall be treated as service for the purpose of determining the vesting of the Option. However, any notice period mandated under applicable law or otherwise for which you receive pay in lieu of notice shall not be treated as service for the purpose of determining the vesting of the PRSUs; Option, and the Grantee's your right to vesting of Shares in settlement of the PRSUs Option after termination of service, if any, will be measured by the date of termination of the Grantee's your active service and will not be extended by any such notice period. Similarly, if the Company elects to place you on garden leave (or the equivalent) during any notice period mandated under applicable lawyour Employment Agreement or otherwise arising in connection with an involuntary termination of your employment by the Company (and, if applicable, by any Subsidiary for whom you are employed) other than for Cause, such garden leave period shall not be treated as service for the purpose of determining the vesting of the Options, and your right to settlement of the Options after termination of service, if any, will be measured by the date of termination of your active service (i.e., the commencement of such leave) and will not be extended by any such leave. Subject to the foregoing and the provisions of the Plan, which are incorporated herein by reference, the Company, in its sole discretion, shall determine whether the Grantee's your service has terminated and the effective date of such termination. (ik) The future value grant of the underlying Shares is unknown and canOption will not be predicted interpreted to form an employment contract or employment relationship with certainty. The value the Company or any of the Shares may increase or decreaseits Subsidiaries that does not otherwise exist.

Appears in 1 contract

Samples: Stock Option Agreement (Avon Products Inc)

Service Acknowledgements. The Grantee Optionee acknowledges and agrees as follows: (a) The execution and delivery of this Agreement and the granting of the PRSUs Option hereunder shall not constitute or be evidence of any agreement or understanding, express or implied, on the part of the Company or any of its Subsidiaries to employ the Grantee Optionee for any specific period. Moreover, the PRSUs do not become part of a contract of employment or any other employment relationship with the Grantee's employer. (b) The award of the PRSUs hereunder Option is voluntary and occasional and does not entitle the Grantee Optionee to any benefit other than that specifically granted under this Agreement and under the Plan, nor or to any future grants awards or other benefits under the Plan or any similar plan, even if PRSUs Options have ever been granted in the past or have repeatedly been granted in the past. Any benefits granted under this Agreement and under the Plan are extraordinary and not part of the Grantee's Optionee’s ordinary or expected compensation, and shall not be considered as part of such compensation in the event of severance, redundancy or resignation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, end-of-service payments, bonuses, long-service awards, pension, welfare or retirement benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or any of its Subsidiaries. The Grantee Optionee understands and accepts that the benefits granted under the Plan are entirely at the grace and discretion of the Company and that the Company retains the right to amend or terminate the Plan, and/or the Grantee's Optionee’s participation therein, at any time, at the Company's ’s sole discretion and without notice, subject to applicable lawlaw and the terms of the Plan. (c) Nothing in this Agreement shall confer upon the Grantee Optionee any right to continue in the service of the Company or a Subsidiary or interfere in any way with any right of the Company or a Subsidiary to terminate the employment of the Grantee Optionee at any time, subject to applicable law. (d) The Grantee Optionee is voluntarily participating in the Plan, accepting the Option and entering into this Agreement voluntarily. (e) The grant of PRSUs will not Plan is established voluntarily by the Company, it is discretionary in nature and it may be interpreted to form an employment contract with modified, amended, suspended or terminated by the Company or at any of its Subsidiariestime, to the extent permitted by the Plan. (f) All decisions with respect to future options or other grants, if any, will be at the sole discretion of the Company. (g) The future value of the Shares underlying the Option is unknown, indeterminable and cannot be predicted with certainty. The value of the Shares may increase or decrease. (h) Neither the Company nor any Subsidiary is providing any tax, legal or financial advice or making any recommendations regarding this award, the Grantee's Optionee’s participation in the Plan Plan, or the Grantee's Optionee’s acquisition or sale of the Shares. (gi) In consideration of the grant of the PRSUsOption, (i) the Optionee shall have no claim or entitlement to compensation or damages arises arising from (x) forfeiture of the Option resulting from termination of the PRSUs Optionee’s service (for any reason whether or not in breach of local law) or otherwise pursuant to the terms of this Agreement or (y) diminution in value of the PRSUs Option or Shares acquired issued upon settlement exercise of the PRSUs Option and (ii) the Grantee Optionee irrevocably releases the Company and its Subsidiaries from any such claim that may arise. If, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen then, by accepting the PRSUsOption, the Grantee Optionee shall be deemed irrevocably to have waived the Grantee's Optionee’s entitlement to pursue such a claim. (hj) Any notice period mandated under applicable law or otherwise arising in connection with an involuntary Separation from Service by the Company (and, if applicable, by any Subsidiary for whom the Optionee is employed) other than for Cause shall be treated as service for the purpose of determining the vesting of the Option. However, any notice period mandated under applicable law or otherwise for which the Optionee receives pay in lieu of notice shall not be treated as service for purpose of determining the vesting of the Options, and the Optionee’s right to vesting of the Option after Separation from Service, if any, will be measured by the date of termination of the Optionee’s active service and will not be extended by any such notice period. Similarly, if the Company elects to place the Optionee on garden leave (or the equivalent) during any notice period arising in connection with an involuntary Separation from Service by the Company (and, if applicable, by any Subsidiary for whom the Optionee is employed) other than for Cause, such garden leave period shall not be treated as service for the purpose of determining the vesting of the PRSUs; Options, and the Grantee's Optionee’s right to vesting of Shares in settlement of the PRSUs Option after termination of service, if any, will be measured by the date of termination of the Grantee's Optionee’s active service (i.e., the commencement of such leave) and will not be extended by any notice period mandated under applicable lawsuch leave. Subject to the foregoing and the provisions of the Plan, the Company, in its sole discretion, shall determine whether the Grantee's Optionee’s service has terminated and the effective date of such terminationSeparation from Service. (ik) The future value grant of the underlying Shares is unknown and canOption will not be predicted interpreted to form an employment contract or employment relationship with certainty. The value the Company or any of the Shares may increase or decreaseits Subsidiaries that does not otherwise exist.

Appears in 1 contract

Samples: Stock Option Agreement (Avon Products Inc)

Service Acknowledgements. The Grantee Optionee acknowledges and agrees as follows: (a) The execution and delivery of this Agreement and the granting of the PRSUs Option hereunder shall not constitute or be evidence of any agreement or understanding, express or implied, on the part of the Company or any of its Subsidiaries to employ the Grantee Optionee for any specific period. Moreover, the PRSUs do not become part of a contract of employment or any other employment relationship with the Grantee's employer. (b) The award of the PRSUs Option hereunder is voluntary and occasional and does not entitle the Grantee Optionee to any benefit other than that specifically granted under this Agreement and under the Plan, nor to any future grants awards or other benefits under the Plan or any similar plan, even if PRSUs Options have ever been granted in the past or have repeatedly been granted in the past. The Option does not become part of the contract of employment or any other employment relationship with the Optionee’s employer and the Option is not a guarantee of continued employment. Any benefits granted under this Agreement and under the Plan are extraordinary and not part of the Grantee's Optionee’s ordinary or expected compensation, and shall not be considered as part of such compensation in the event of severance, redundancy or resignation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, end-of-service payments, bonuses, long-service awards, pension, welfare or retirement benefits or similar payments and in no event should be considered as compensation for, or relating in any 6 Model for Amended and Restated 2013 Plan Combined US & Int’l Option Agreement way to, past services for the Company or any of its Subsidiaries. The Grantee Optionee understands and accepts that the benefits granted under the Plan are entirely at the grace and discretion of the Company and that the Company retains the right to amend or terminate the Plan, and/or the Grantee's Optionee’s participation therein, at any time, at the Company's ’s sole discretion and without notice, subject to applicable law. (c) Nothing in this Agreement shall confer upon the Grantee Optionee any right to continue in the service of the Company or a Subsidiary or interfere in any way with any right of the Company or a Subsidiary to terminate the employment of the Grantee Optionee at any time, subject to applicable law. (d) The Grantee Optionee is voluntarily participating in the Plan. (e) The grant of PRSUs will not Plan is established voluntarily by the Company, it is discretionary in nature and it may be interpreted to form an employment contract with modified, amended, suspended or terminated by the Company or at any of its Subsidiariestime, to the extent permitted by the Plan. (f) All decisions with respect to future options or other grants, if any, will be at the sole discretion of the Company. (g) The future value of the Shares underlying the Option is unknown, indeterminable and cannot be predicted with certainty. The value of the Shares may increase or decrease. (h) Neither the Company nor any Subsidiary is providing any tax, legal or financial advice or making any recommendations regarding the Grantee's Optionee’s participation in the Plan or the Grantee's acquisition or sale of the SharesPlan. (gi) In consideration of the grant of the PRSUsOption, no claim or entitlement to compensation or damages arises from termination of the PRSUs Option or diminution in value of the PRSUs Option or Shares acquired payments made upon settlement of the PRSUs Option resulting from termination of the Optionee’s service (for any reason whether or not in breach of local law) and the Grantee Optionee irrevocably releases the Company and its Subsidiaries from any such claim that may arise. If, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen then, by accepting the PRSUsOption, the Grantee Optionee shall be deemed irrevocably to have waived the Grantee's Optionee’s entitlement to pursue such a claim. . (hj) Any notice period mandated under applicable law shall not be treated as service for the purpose of determining the vesting of the PRSUs; Option and the Grantee's Optionee’s right to vesting of Shares in settlement of the PRSUs Option after termination of serviceSeparation from Service, if any, will be measured by the date of termination of the Grantee's Optionee’s active service and will not be extended by any notice period mandated under applicable law. Subject to the foregoing and the provisions of the Plan, the Company, in its sole discretion, shall determine whether the Grantee's Optionee’s service has terminated and the effective date of such terminationSeparation from Service. (ik) The future value grant of the underlying Shares is unknown and canOption will not be predicted interpreted to form an employment contract or employment relationship with certaintythe Company or any of its Subsidiaries that does not otherwise exist. The value of the Shares may increase or decrease.7 Model for Amended and Restated 2013 Plan Combined US & Int’l Option Agreement

Appears in 1 contract

Samples: Stock Option Agreement

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Service Acknowledgements. The Grantee acknowledges You acknowledge and agrees agree as follows: (a) The execution and delivery of this Agreement and the granting of the PRSUs Option hereunder shall not constitute or be evidence of any agreement or understanding, express or implied, on the part of the Company or any of its Subsidiaries to employ the Grantee you for any specific period. Moreover, the PRSUs do not become part of a contract of employment or any other employment relationship with the Grantee's employer. (b) The award of the PRSUs hereunder Option is voluntary and occasional, and does not entitle the Grantee you to any benefit other than that specifically granted under this Agreement and under the PlanAgreement, nor or to any future grants awards or other benefits under the Plan or any similar plan, even if PRSUs Options have ever been granted in the past or have repeatedly been granted in the past. Any benefits granted under this Agreement and under the Plan are extraordinary and not part of the Grantee's your ordinary or expected compensation, and shall not be considered as part of such compensation in the event of severance, redundancy or resignation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, end-of-service payments, bonuses, long-service awards, pension, welfare or retirement benefits or similar payments payments, and in no event should be considered as compensation for, or relating in any way to, past services for the Company or any of its Subsidiaries. The Grantee understands and accepts that the benefits granted under the Plan are entirely at the grace and discretion of the Company and that the Company retains the right to amend or terminate the Plan, and/or the Grantee's participation therein, at any time, at the Company's sole discretion and without notice, subject to applicable law. (c) Nothing in this Agreement shall confer upon the Grantee you any right to continue in the service of the Company or a Subsidiary or interfere in any way with any right of the Company or a Subsidiary to terminate the your employment of the Grantee at any time, subject to applicable law. (d) The Grantee is voluntarily participating in You are accepting the PlanOption and entering into this Agreement voluntarily. (e) The grant of PRSUs will not Plan may be interpreted to form an employment contract with modified, amended, suspended or terminated by the Company or at any of its Subsidiariestime, to the extent permitted by the Plan. (f) All decisions with respect to future options or other grants, if any, will be at the sole discretion of the Committee, subject to the terms of the Employment Contract. (g) The future value of the Shares underlying the Option is unknown, indeterminable and cannot be predicted with certainty. The value of the Shares may increase or decrease. (h) Neither the Company nor any Subsidiary is providing any tax, legal or financial advice or making any recommendations regarding the Grantee's participation in the Plan this award or the Grantee's your acquisition or sale of the Shares. (gi) In consideration of the grant of the PRSUsOption, (i) you shall have no claim or entitlement to compensation or damages arises arising from (x) forfeiture of the Option resulting from termination of your service (for any reason whether or not in breach of local law) or otherwise pursuant to the PRSUs terms of this Agreement or (y) diminution in value of the PRSUs Option or Shares acquired issued upon settlement exercise of the PRSUs Option and the Grantee (ii) you irrevocably releases release the Company and its Subsidiaries from any such claim that may arise. If, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen then, by accepting the PRSUsOption, the Grantee you shall be deemed irrevocably to have waived the Grantee's your entitlement to pursue such a claim. (hj) Any notice period mandated under applicable law shall not be treated as service for the purpose of determining the vesting of the PRSUs; Option, and the Grantee's your right to vesting of Shares in settlement of the PRSUs Option after termination of service, if any, will be measured by the date of termination of the Grantee's your active service and will not be extended by any notice period mandated under applicable law. In contrast, any notice period mandated under the Employment Contract shall be treated as service for the purpose of determining the vesting of the Option; provided, if the Company elects to place you on Garden Leave during such notice period, the Option shall cease to vest as of the date immediately prior to such Garden Leave. Subject to the foregoing and the provisions of the Plan, which are incorporated herein by reference, the Company, in its sole discretion, shall determine whether the Grantee's your service has terminated and the effective date of such termination. (ik) The future value grant of the underlying Shares is unknown and canOption will not be predicted interpreted to form an employment contract or employment relationship with certainty. The value the Company or any of the Shares may increase or decreaseits Subsidiaries that does not otherwise exist.

Appears in 1 contract

Samples: Stock Option Agreement (Avon Products Inc)

Service Acknowledgements. The Grantee acknowledges and agrees as follows: (a) The execution and delivery of this Agreement and the granting of the PRSUs SARs hereunder shall not constitute or be evidence of any agreement or understanding, express or implied, on the part of the Company or any of its Subsidiaries to employ the Grantee for any specific period. Moreover, the PRSUs do not become part of a contract of employment or any other employment relationship with the Grantee's employer. (b) The award of the PRSUs hereunder SARs is voluntary and occasional and does not entitle the Grantee to any benefit other than that specifically granted under this Agreement and under the Plan, nor or to any future grants awards or other benefits under the Plan or any similar plan, even if PRSUs SARs have ever been granted in the past or have repeatedly been granted in the past. Any benefits granted under this Agreement and under the Plan are extraordinary and not part of the Grantee's ’s ordinary or expected compensation, and shall not be considered as part of such compensation in the event of severance, redundancy or resignation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, end-of-service payments, bonuses, long-service awards, pension, welfare or retirement benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or any of its Subsidiaries. The Grantee understands and accepts that the benefits granted under the Plan are entirely at the grace and discretion of the Company and that the Company retains the right to amend or terminate the Plan, and/or the Grantee's ’s participation therein, at any time, at the Company's ’s sole discretion and without notice, subject to applicable lawlaw and the terms of the Plan. (c) Nothing in this Agreement shall confer upon the Grantee any right to continue in the service of the Company or a Subsidiary or interfere in any way with any right of the Company or a Subsidiary to terminate the employment of the Grantee at any time, subject to applicable law. (d) The Grantee is voluntarily participating in the Plan, accepting the SARs and entering into this Agreement voluntarily. (e) The grant of PRSUs will not Plan is established voluntarily by the Company, it is discretionary in nature and it may be interpreted to form an employment contract with modified, amended, suspended or terminated by the Company or at any of its Subsidiariestime, to the extent permitted by the Plan. (f) All decisions with respect to future SARs or other grants, if any, will be at the sole discretion of the Company. (g) The future value of the Shares underlying the SARs is unknown, indeterminable and cannot be predicted with certainty. The value of the Shares may increase or decrease. (h) Neither the Company nor any Subsidiary is providing any tax, legal or financial advice or making any recommendations regarding this award or the Grantee's ’s participation in the Plan or the Grantee's acquisition or sale of the SharesPlan. (gi) In consideration of the grant of the PRSUsSARs, (i) the Grantee shall have no claim or entitlement to compensation or damages arises arising from (x) forfeiture of the SARs resulting from termination of the PRSUs Grantee’s service (for any reason whether or not in breach of local law) or otherwise pursuant to the terms of this Agreement or (y) diminution in value of the PRSUs SARs or Shares acquired upon settlement of the PRSUs covered thereby and (ii) the Grantee irrevocably releases the Company and its Subsidiaries from any such claim that may arise. If, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen then, by accepting the PRSUsSARs, the Grantee shall be deemed irrevocably to have waived the Grantee's ’s entitlement to pursue such a claim. (hj) Any notice period mandated under applicable law or otherwise arising in connection with an involuntary Separation from Service by the Company (and, if applicable, by any Subsidiary for whom the Grantee is employed) other than for Cause shall be treated as service for the purpose of determining the vesting of the SARs. However, any notice period mandated under applicable law or otherwise for which the grantee receives pay in lieu of notice shall not be treated as service for purpose of determining the vesting of the SARs, and the Grantee’s right to vesting of SARs after Separation from Service, if any, will be measured by the date of termination of the Grantee’s active service and will not be extended by any such notice period. Similarly, if the Company elects to place the Grantee on garden leave during any notice period arising in connection with an involuntary Separation from Service by the Company (and, if applicable, by any Subsidiary for whom the Grantee is employed) other than for Cause, such garden leave period shall not be treated as service for the purpose of determining the vesting of the PRSUs; SARs, and the Grantee's ’s right to vesting of Shares in settlement of the PRSUs SARs after termination of service, if any, will be measured by the date of the termination of the Grantee's ’s active service (i.e., the commencement of such leave) and will not be extended by any notice period mandated under applicable lawsuch leave. Subject to the foregoing and the provisions of the Plan, the Company, in its sole discretion, shall determine whether the Grantee's ’s service has terminated and the effective date of such terminationSeparation from Service. (ik) The future value grant of the underlying Shares is unknown and canSARs will not be predicted interpreted to form an employment contract or employment relationship with certainty. The value the Company or any of the Shares may increase or decreaseits Subsidiaries that does not otherwise exist.

Appears in 1 contract

Samples: Stock Appreciation Rights Agreement (Avon Products Inc)

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