Common use of Acknowledgement of Discretionary Nature of the Plan; No Vested Rights Clause in Contracts

Acknowledgement of Discretionary Nature of the Plan; No Vested Rights. By accepting the Award, you consent to participation in the Plan and acknowledges receipt of a copy of the Plan. You understand that the Company has unilaterally, gratuitously and in its sole discretion granted Performance Units under the Plan to individuals who may be employees of the Company or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Company or any of its Affiliates on an ongoing basis. Consequently, you understand that the Performance Units are granted on the assumption and condition that the Performance Units and the Shares acquired upon settlement of the Performance Units shall not become a part of any employment contract (either with the Company or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. In addition, you understand that this grant would not be made to you but for the assumptions and conditions referenced above; thus, you acknowledge and freely accept that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason the Award shall be null and void. You understand and agree that, as a condition of the Award, unless otherwise provided in section 8 of the Award Agreement, any unvested Performance Units as of the date you cease active employment will be forfeited without entitlement to the underlying Shares or to any amount of indemnification in the event of termination of employment. You acknowledge that you have read and specifically accept the conditions referred to in the Award Agreement regarding the impact of a termination of employment on the Performance Units.

Appears in 1 contract

Samples: Steelcase Inc

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Acknowledgement of Discretionary Nature of the Plan; No Vested Rights. By accepting the Award, you consent to participation in the Plan and acknowledges receipt of a copy of the Plan. You understand that the Company has unilaterally, gratuitously and in its sole discretion granted Performance Units under the Plan to individuals who may be employees of the Company or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Company or any of its Affiliates on an ongoing basis. Consequently, you understand that the Performance Units are granted on the assumption and condition that the Performance Units and the Shares acquired upon settlement of the Performance Units shall not become a part of any employment contract (either with the Company or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. In addition, you understand that this grant would not be made to you but for the assumptions and conditions referenced above; thus, you acknowledge and freely accept that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason the Award shall be null and void. You understand and agree that, as a condition of the Award, unless otherwise provided in section 8 of the Award Agreement, any unvested Performance Units as of the date you cease active employment will be forfeited without entitlement to the underlying Shares or to any amount of indemnification in the event of termination of employment. You acknowledge that you have read and specifically accept the conditions referred to in the Award Agreement regarding the impact of a termination of employment on the Performance Units.

Appears in 1 contract

Samples: Steelcase Inc

Acknowledgement of Discretionary Nature of the Plan; No Vested Rights. By accepting the Award, you consent to participation in the Plan and acknowledges acknowledge receipt of a copy of the Plan. You understand that the Company has unilaterally, gratuitously and in its sole discretion granted Performance Units under the Plan to individuals who may be employees of the Company or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Company or any of its Affiliates on an ongoing basis. Consequently, you understand that the Performance Units are granted on the assumption and condition that the Performance Units and the Shares acquired upon settlement of the Performance Units shall not become a part of any employment contract (either with the Company or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. In addition, you understand that this grant would not be made to you but for the assumptions and conditions referenced above; thus, you acknowledge and freely accept that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason the Award shall be null and void. You understand and agree that, as a condition of the Award, unless otherwise provided in section 8 of the Award Agreement, any unvested Performance Units as of the date you cease active employment will be forfeited without entitlement to the underlying Shares or to any amount of indemnification in the event of termination of employment. You acknowledge that you have read and specifically accept the conditions referred to in the Award Agreement regarding the impact of a termination of employment on the Performance Units.

Appears in 1 contract

Samples: Steelcase Inc

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Acknowledgement of Discretionary Nature of the Plan; No Vested Rights. By accepting the Award, you consent to participation in the Plan and acknowledges acknowledge receipt of a copy of the Plan. You understand that the Company has unilaterally, gratuitously and in its sole discretion granted Performance Units under the Plan to individuals who may be employees of the Company or its Affiliates throughout the world. The decision is a limited decision that is entered into upon the express assumption and condition that any grant will not economically or otherwise bind the Company or any of its Affiliates on an ongoing basis. Consequently, you understand that the Performance Units are granted on the assumption and condition that the Performance Units and the Shares acquired upon settlement of the Performance Units shall not become a part of any employment contract (either with the Company or any of its Affiliates) and shall not be considered a mandatory benefit, salary for any purposes (including severance compensation) or any other right whatsoever. In addition, you understand that this grant would not be made to you but for the assumptions and conditions referenced above; thus, you acknowledge and freely accept that should any or all of the assumptions be mistaken or should any of the conditions not be met for any reason the Award shall be null and void. You understand and agree that, as a condition of the Award, unless otherwise provided in section 8 5 of the Award Agreement, any unvested Performance Units as of the date you cease active employment will be forfeited without entitlement to the underlying Shares or to any amount of indemnification in the event of termination of employment. You acknowledge that you have read and specifically accept the conditions referred to in the Award Agreement regarding the impact of a termination of employment on the Performance Units.

Appears in 1 contract

Samples: Steelcase Inc

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