Common use of Commercial Relationship Clause in Contracts

Commercial Relationship. The Participant expressly recognizes that the Participant’s participation in the Plan and the Company’s grant of the Performance Stock Units does not constitute an employment relationship between the Participant and the Company. The Participant has been granted the Performance Stock Units as a consequence of the commercial relationship between the Company and the Company’s Subsidiary in Mexico that employs the Participant (“Visteon-Mexico”) and Visteon-Mexico is the Participant’s sole employer. Based on the foregoing, (a) the Participant expressly recognizes the Plan and the benefits the Participant may derive from the Participant’s participation in the Plan does not establish any rights between the Participant and Visteon-Mexico, (b) the Plan and the benefits the Participant may derive from the Participant’s participation in the Plan are not part of the employment conditions and/or benefits provided by Visteon-Mexico, and (c) any modifications or amendments of the Plan by the Company, or a termination of the Plan by the Company, shall not constitute a change or impairment of the terms and conditions of the Participant’s employment with Visteon-Mexico.

Appears in 4 contracts

Sources: Performance Stock Unit Grant Agreement (Visteon Corp), Performance Stock Unit Grant Agreement (Visteon Corp), Performance Stock Unit Grant Agreement (Visteon Corp)

Commercial Relationship. The Participant expressly recognizes that the Participant’s participation in the Plan and the Company’s grant of the Performance Stock Units does Shares do not constitute an employment relationship between the Participant and the Company. The Participant has been granted the Performance Stock Units Shares as a consequence of the commercial relationship between the Company and the Company’s Subsidiary affiliate in Mexico that employs the Participant (“Visteon-Mexico”) Participant, and Visteon-the Company’s local affiliate in Mexico is the Participant’s sole employer. Based on the foregoing, (a) the Participant expressly recognizes that the Plan and the benefits the Participant may derive from the Participant’s participation in the Plan does do not establish any rights between the Participant and Visteon-Mexicothe Company’s affiliate in Mexico that employs the Participant, (b) the Plan and the benefits the Participant may derive from the Participant’s participation in the Plan are not part of the employment conditions and/or benefits provided by Visteon-Mexicothe Company’s affiliate in Mexico that employs the Participant, and (c) any modifications or amendments of the Plan by the Company, or a termination of the Plan by the Company, shall not constitute a change or impairment of the terms and conditions of the Participant’s employment with Visteon-Mexicothe Company’s affiliate in Mexico that employs the Participant.

Appears in 4 contracts

Sources: Performance Share Award Agreement (Ingredion Inc), Performance Share Award Agreement (Ingredion Inc), Performance Share Award Agreement

Commercial Relationship. The Participant expressly recognizes that the Participant’s participation in the Plan and the Company’s grant of the Performance Stock Units Shares does not constitute an employment relationship between the Participant and the Company. The Participant has been granted the Performance Stock Units Shares as a consequence of the commercial relationship between the Company and the Company’s Subsidiary affiliate in Mexico that employs the Participant (“Visteon-Mexico”) Participant, and Visteon-the Company’s local affiliate in Mexico is the Participant’s sole employer. Based on the foregoing, (a) the Participant expressly recognizes the Plan and the benefits the Participant may derive from the Participant’s participation in the Plan does not establish any rights between the Participant and Visteon-Mexicothe Company’s affiliate in Mexico that employs the Participant, (b) the Plan and the benefits the Participant may derive from the Participant’s participation in the Plan are not part of the employment conditions and/or benefits provided by Visteon-Mexicothe Company’s affiliate in Mexico that employs the Participant, and (c) any modifications or amendments of the Plan by the Company, or a termination of the Plan by the Company, shall not constitute a change or impairment of the terms and conditions of the Participant’s employment with Visteon-Mexicothe Company’s affiliate in Mexico that employs the Participant.

Appears in 3 contracts

Sources: Performance Share Award Agreement (Ingredion Inc), Performance Share Award Agreement (Ingredion Inc), Performance Share Award Agreement (Ingredion Inc)

Commercial Relationship. The Participant expressly recognizes that the Participant’s participation in the Plan and the Company’s grant of the Performance Stock Units Shares does not constitute an employment relationship between the Participant and the Company. The Participant has been granted the Performance Stock Units Shares as a consequence of the commercial relationship between the Company and the Company’s Subsidiary affiliate in Mexico that employs the Participant (“Visteon-Mexico”) Participant, and Visteon-the Company’s local affiliate in Mexico is the Participant’s sole employer. Based on the foregoing, (a) the Participant expressly recognizes the Plan and the benefits the Participant may derive from the Participant’s participation in the Plan does not establish any rights between the Participant and Visteon-Mexicothe Company’s affiliate in Mexico that employs the Participant, (b) the Plan and the benefits the Participant may derive from the Participant’s participation in the Plan are not part of the employment conditions and/or benefits provided by Visteon-Mexicothe Company’s affiliate in Mexico that employs the Participant, and (c) any modifications or amendments of the Plan by the Company, or a termination of the Plan by the Company, shall not constitute a change or impairment of the terms and conditions of the Participant’s employment with Visteon-Mexicothe Company’s affiliate in Mexico that employs the Participant.

Appears in 1 contract

Sources: Performance Share Award Agreement (Ingredion Inc)

Commercial Relationship. The Participant expressly recognizes recognize that the Participant’s participation in the Plan and the Company’s grant of the Performance Restricted Stock Units does not constitute an employment relationship between the Participant and the Company. The Participant has been granted the Performance Restricted Stock Units as a consequence of the commercial relationship between the Company and the Company’s Subsidiary in Mexico that employs the Participant (“Visteon-Mexico”) Participant, and Visteon-the Company’s Subsidiary in Mexico is the Participant’s sole employer. Based on the foregoing, (a) the Participant expressly recognizes that the Plan and the benefits the Participant may derive from the Participant’s participation participating in the Plan does not establish any rights between the Participant and Visteon-Mexicothe Company’s Subsidiary in Mexico that employs the Participant, (b) the Plan and the benefits the Participant may derive from the Participant’s participation participating in the Plan are not part of the employment conditions and/or benefits provided by Visteon-Mexicothe Company’s Subsidiary in Mexico that employs the Participant, and (c) any modifications or amendments of the Plan by the Company, or a termination of the Plan by the Company, shall not constitute a change or impairment of the terms and conditions of the Participant’s employment with Visteon-Mexicothe Company’s Subsidiary in Mexico that employs the Participant.

Appears in 1 contract

Sources: Restricted Stock Unit Award Agreement (Metaldyne Performance Group Inc.)