Exit Award definition
Examples of Exit Award in a sentence
If you cannot complete your studies or you are withdrawn from the University for any reason, the Board of Examiners will consider you for an Exit Award.
The Participant may not sell, exchange, transfer, alienate, hypothecate, pledge, encumber, or assign any Exit Award issued under the Plan or any rights with respect thereto.
Each distribution under the Plan and this Exit Award Agreement shall be deemed a “separate payment” for purposes of Section 409A.
If the terms of this Exit Award Agreement conflict with the terms of the Plan, the Plan document will control.
This Exit Award Agreement and the Award granted hereunder are intended to be exempt from or comply with Section 409A pursuant to the guidance issued thereunder by the U.S. Internal Revenue Service in all respects and shall be administered in a manner consistent with such intent.
The failure of the Participant or the Company to insist upon strict adherence to any term of the Plan or this Exit Award Agreement on any occasion shall not be considered a waiver or deprive that party of the right thereafter to insist upon adherence to that term or any other term of the Plan or this Exit Award Agreement.
The Company or any Affiliate will have the power and the right to deduct or withhold, or require a Participant to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes, domestic or foreign, required by the Code or other law or regulation to be withheld with respect to any taxable event arising under this Exit Award Agreement or the Plan.
Neither the Plan nor this Exit Award Agreement will be construed as conferring any membership rights on the Participant with respect to the Company or an Affiliate.
This Agreement and the Nondisclosure and Non-Solicitation Agreement, Exit Award Plan and Incentive Award Plan supersede all prior or contemporaneous agreements and statements, whether written or oral, concerning the terms of Executive’s employment with the Employer, including but not limited to the Employment Agreement dated the 16th of July 2009, and no amendment or modification of these agreements shall be binding unless it is set forth in a writing signed by both the Employer and Executive.
To the extent not preempted by federal law, this Exit Award Agreement and the Plan shall be governed by and construed in accordance with the laws of the State of Nevada, without regard to its principles of conflicts of laws.