Common use of Acquired Rights Clause in Contracts

Acquired Rights. The Participant acknowledges and agrees that: (a) the Corporation may terminate or amend the Plan at any time; (b) the award of the RSUs made under this Agreement is completely independent of any other award or grant and is made in the Discretion of the Corporation; (c) no past grants or awards (including, without limitation, the RSUs awarded hereunder) give the Participant any right to any grants or awards in the future whatsoever; and (d) none of the benefits granted under this Agreement are part of the Participant’s ordinary salary or compensation, and shall not be considered as part of such salary or compensation in the event of or for purposes of determining the amount of or entitlement to severance, redundancy or resignation or benefits under any employee benefit plan.

Appears in 3 contracts

Samples: Restricted Stock Unit Award Agreement (GENTHERM Inc), Restricted Stock Unit Award Agreement (GENTHERM Inc), Restricted Stock Unit Award Agreement (GENTHERM Inc)

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Acquired Rights. The Participant acknowledges and agrees that: (a) the Corporation may terminate or amend the Plan at any time; (b) the award of the RSUs Restricted Stock made under this Agreement is completely independent of any other award or grant and is made in the Discretion of the Corporation; (c) no past grants or awards (including, without limitation, the RSUs Restricted Stock awarded hereunder) give the Participant any right to any grants or awards in the future whatsoever; and (d) none of the benefits granted under this Agreement are part of the Participant’s ordinary salary or compensation, and shall not be considered as part of such salary or compensation in the event of or for purposes of determining the amount of or entitlement to severance, redundancy or resignation or benefits under any employee benefit plan.

Appears in 3 contracts

Samples: Restricted Stock Award Agreement (GENTHERM Inc), Gentherm Incorporated (GENTHERM Inc), Gentherm Incorporated (GENTHERM Inc)

Acquired Rights. The Participant acknowledges and agrees that: (a) the Corporation may terminate or amend the Plan at any time; (b) the award of the RSUs PSUs made under this Agreement is completely independent of any other award or grant and is made in the Discretion of the Corporation; (c) no past grants or awards (including, without limitation, the RSUs PSUs awarded hereunder) give the Participant any right to any grants or awards in the future whatsoever; and (d) none of the benefits granted under this Agreement are part of the Participant’s ordinary salary or compensation, and shall not be considered as part of such salary or compensation in the event of or for purposes of determining the amount of or entitlement to severance, redundancy or resignation or benefits under any employee benefit plan.

Appears in 2 contracts

Samples: Gentherm Incorporated (GENTHERM Inc), Gentherm Incorporated (GENTHERM Inc)

Acquired Rights. The Participant acknowledges and agrees that: (a) the Corporation may terminate or amend the Plan at any time; (b) the award of the RSUs made under this Agreement is completely independent of any other award or grant and is made in the Discretion of the Corporation; (c) no past grants or awards (including, without limitation, the RSUs awarded hereunder) give the Participant any right to any grants or awards in the future whatsoever; and (d) none of the any benefits granted under this Agreement are not part of the Participant’s ordinary salary or compensation, and shall not be considered as part of such salary or compensation in the event of or for purposes of determining the amount of or entitlement to severance, redundancy or resignation or benefits under any employee benefit plan.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (GENTHERM Inc)

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Acquired Rights. The Participant acknowledges and agrees that: (a) the Corporation Company may terminate or amend the Plan at any time; (b) the award Award of the RSUs Restricted Stock made under this Agreement is completely independent of any other award or grant Award and is made in the Discretion discretion of the CorporationCompany; (c) no past grants or awards (including, without limitation, the RSUs Restricted Stock awarded hereunder) give the Participant any right to any grants or awards in the future whatsoever; and (d) none of the benefits granted under this Agreement are part of the Participant’s ordinary salary or compensation, and shall not be considered as part of such salary or compensation in the event of or for purposes of determining the amount of or entitlement to severance, redundancy or resignation or benefits under any employee benefit plan.

Appears in 1 contract

Samples: Restricted Stock Award Agreement (Universal Logistics Holdings, Inc.)

Acquired Rights. The Participant acknowledges and agrees that: (a) the Corporation may terminate or amend the Plan at any time; (b) the award of the RSUs made under this Agreement is completely independent of any other award or grant and is made in the Discretion of the Corporation; (c) no past grants or awards (including, without limitation, the RSUs awarded hereunder) give the Participant any right to any grants or awards in the future whatsoever; and (d) none of the any benefits granted under this Agreement are not part of the Participant’s 's ordinary salary or compensation, and shall not be considered as part of such salary or compensation in the event of or for purposes of determining the amount of or entitlement to severance, redundancy or resignation or benefits under any employee benefit plan.

Appears in 1 contract

Samples: Restricted Stock Unit Award Agreement (GENTHERM Inc)

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