Common use of Service Acknowledgments Clause in Contracts

Service Acknowledgments. The Grantee acknowledges and agrees as follows: (a) The execution and delivery of this Agreement and the granting of the RSUs hereunder shall not constitute or be evidence of any agreement or understanding, express or implied, on the part of the Company or its Subsidiaries to employ the Grantee for any specific period. Moreover the RSUs do not become part of the contract of employment or any other employment relationship with the Grantee's employer. (b) The award of the RSUs 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. Any benefits granted under this Agreement and under the Plan are not part of the Grantee's ordinary or expected compensation 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. (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 future value of the underlying Shares is unknown and cannot be predicted with certainty. (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. (g) In consideration of the grant of the RSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs or diminution in value of the RSUs or payments made upon settlement of the RSUs resulting from termination of the Grantee's service (for any reason whether or not in breach of local law) 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 RSUs, the Grantee shall be deemed irrevocably to have waived the Grantee's entitlement to pursue such a claim.

Service Acknowledgments. The Grantee acknowledges and agrees as follows: (a) The execution and delivery of this Agreement and the granting of the RSUs PRSUs hereunder shall not constitute or be evidence of any agreement or understanding, express or implied, on the part of the Company or its Subsidiaries to employ the Grantee for any specific period. Moreover the RSUs do not become part of the contract of employment or any other employment relationship with the Grantee's employer. (b) The award of the RSUs PRSUs hereunder 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 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 ’s ordinary or expected compensation 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 law 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 PRSUs and entering into this Agreement voluntarily. (e) The Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan. (ef) All decisions with respect to future PRSUs or other grants, if any, will be at the sole discretion of the Company. (g) The future value of the underlying Shares is unknown unknown, indeterminable and cannot be predicted with certainty. The value of the Shares may increase or decrease. (fh) Neither the Company nor any Subsidiary is providing any tax, legal or financial advice or making any recommendations regarding this award, the Grantee's ’s participation in the Plan, or the Grantee’s acquisition or sale of the Shares. (gi) In consideration of the grant of the RSUsPRSUs, (i) the Grantee shall have no claim or entitlement to compensation or damages arises arising from termination (x) forfeiture of the RSUs or diminution in value of the RSUs or payments made upon settlement of the RSUs PRSUs resulting from termination of the Grantee's ’s service (for any reason whether or not in breach of local law) or otherwise pursuant to this Agreement or (y) diminution in value of the PRSUs or Shares underlying the PRSUs 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 RSUsPRSUs, the Grantee shall be deemed irrevocably to have waived the Grantee's ’s entitlement to pursue such a claim. (j) 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 PRSUs. However, any notice period mandated under applicable law or otherwise for which the Grantee receives pay in lieu of such notice shall not be treated as service for purposes of determining the vesting of the PRSUs, and the Grantee’s right to the 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 such notice period. Similarly, if the Company elects to place the Grantee 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 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, and the Grantee’s right to settlement of the PRSUs after termination of service, if any, will be measured by the date of termination of the Grantee’s 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, the Company, in its sole discretion, shall determine whether the Grantee’s service has terminated and the effective date of such termination. (k) The grant of PRSUs will not be interpreted to form an employment contract or employment relationship with the Company or any of its Subsidiaries that does not otherwise exist.

Service Acknowledgments. The Grantee acknowledges and agrees as follows: (a) The execution and delivery of this Agreement and the granting of the RSUs hereunder shall not constitute or be evidence of any agreement or understanding, express or implied, on the part of the Company or its Subsidiaries to employ the Grantee for any specific period. Moreover the RSUs do not become part of the contract of employment or any other employment relationship with the Grantee's employer. (b) The award of the RSUs hereunder 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 or other benefits under the Plan or any similar plan, even if RSUs 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 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 law 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 RSUs and entering into this Agreement voluntarily. (e) The Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan. (ef) All decisions with respect to future RSUs or other grants, if any, will be at the sole discretion of the Company. (g) The future value of the underlying Shares is unknown unknown, indeterminable and cannot be predicted with certainty. The value of the Shares may increase or decrease. (fh) 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 Shares. (gi) In consideration of the grant of the RSUs, (i) the Grantee shall have no claim or entitlement to compensation or damages arises arising from termination of the RSUs or diminution in value of the RSUs or payments made upon settlement (x) forfeiture of the RSUs resulting from termination of the Grantee's ’s service (for any reason whether or not in breach of local law) or otherwise pursuant to this Agreement or (y) diminution in value of the RSUs or Shares underlying the RSUs 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 RSUs, the Grantee shall be deemed irrevocably to have waived the Grantee's ’s entitlement to pursue such a claim. (j) 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 RSUs. However, any such notice period mandated under applicable law or otherwise for which the Grantee receives pay in lieu of such notice shall not be treated as service for purposes of determining the vesting of the RSUs, and the Grantee’s right to settlement of the RSUs 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 such notice period. Similarly, if the Company elects to place the Grantee 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 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 RSUs, and the Grantee’s right to settlement of the RSUs after termination of service, if any, will be measured by the date of termination of the Grantee’s 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, the Company, in its sole discretion, shall determine whether the Grantee’s service has terminated and the effective date of such termination. (k) The grant of RSUs will not be interpreted to form an employment contract or employment relationship with the Company or any of its Subsidiaries that does not otherwise exist.

Service Acknowledgments. The Grantee acknowledges and agrees as follows: (a) The execution and delivery of this Agreement and the granting of the RSUs hereunder shall not constitute or be evidence of any agreement or understanding, express or implied, on the part of the Company or its Subsidiaries to employ the Grantee for any specific period. Moreover the RSUs do not become part of the contract of employment or any other employment relationship with the Grantee's employer. (b) The award of the RSUs hereunder 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 or other benefits under the Plan or any similar plan, even if RSUs 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 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 law 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 RSUs and entering into this Agreement voluntarily. (e) The Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan. (ef) All decisions with respect to future RSUs or other grants, if any, will be at the sole discretion of the Company. (g) The future value of the underlying Shares is unknown unknown, indeterminable and cannot be predicted with certainty. The value of the Shares may increase or decrease. (fh) 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 Shares. (gi) In consideration of the grant of the RSUs, (i) the Grantee shall have no claim or entitlement to compensation or damages arises arising from termination of the RSUs or diminution in value of the RSUs or payments made upon settlement (x) forfeiture of the RSUs resulting from termination of the Grantee's ’s service (for any reason whether or not in breach of local law) or otherwise pursuant to this Agreement or (y) diminution in value of the RSUs or Shares underlying the RSUs 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 RSUs, the Grantee shall be deemed irrevocably to have waived the Grantee's ’s entitlement to pursue such a claim. (j) 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 RSUs. However, any such notice period mandated under applicable law or otherwise for which the Grantee receives pay in lieu of such notice shall not be treated as service for purposes of determining the vesting of the RSUs, and the Grantee’s right to settlement of the RSUs 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 such notice period. Similarly, if the Company elects to place the Grantee 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 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 RSUs, and the Grantee’s right to settlement of the RSUs after termination of service, if any, will be measured by the date of termination of the Grantee’s 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, the Company, in its sole discretion, shall determine whether the Grantee’s service has terminated and the effective date of such termination. (k) The grant of RSUs will not be interpreted to form an employment contract or employment relationship with the Company or any of its Subsidiaries that does not otherwise exist.

Service Acknowledgments. The Grantee acknowledges and agrees as follows: (a) The execution and delivery of this Agreement and the granting of the RSUs hereunder shall not constitute or be evidence of any agreement or understanding, express or implied, on the part of the Company or its Subsidiaries to employ the Grantee for any specific period. Moreover the RSUs do not become part of the contract of employment or any other employment relationship with the Grantee's employer. (b) The award of the RSUs 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 RSUs 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 GranteeXxxxxxx's ordinary or expected compensation 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 future value of the underlying Shares is unknown and cannot be predicted with certainty. The value of the Shares may increase or decrease. (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. (g) In consideration of the grant of the RSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs or diminution in value of the RSUs or payments made upon settlement of the RSUs resulting from termination of the Grantee's service (for any reason whether or not in breach of local law) 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 RSUs, the Grantee shall be deemed irrevocably irrevocbly 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 RSUs; and the Grantee's right to vesting of Shares in settlement of the RSUs 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.

Service Acknowledgments. The Grantee acknowledges and agrees as follows: (a) The execution and delivery of this Agreement and the granting of the RSUs 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 Moreover, the RSUs PRSUs do not become part of the a contract of employment or any other employment relationship with the Grantee's ’s employer. (b) The award of the RSUs PRSUs hereunder 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 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 ’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 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 future value of Plan is established voluntarily by the underlying Shares Company, it is unknown discretionary in nature and cannot it may be predicted with certaintymodified, amended, suspended or terminated by the Company at any time, to the extent permitted by the Plan. (f) Neither All decisions with respect to future PRSUs or other grants, if any, will be at 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. (g) In consideration sole discretion of the grant of the RSUs, no claim or entitlement to compensation or damages arises from termination of the RSUs or diminution in value of the RSUs or payments made upon settlement of the RSUs resulting from termination of the Grantee's service (for any reason whether or not in breach of local law) 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 RSUs, the Grantee shall be deemed irrevocably to have waived the Grantee's entitlement to pursue such a claim.Company;