Common use of Continuance of Employment/Service Required; No Employment/Service Commitment Clause in Contracts

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 26 contracts

Samples: 2003 Performance Incentive Plan Employee Stock Option Agreement (Apria Healthcare Group Inc), 2003 Performance Incentive Plan Employee Stock Option Agreement (Apria Healthcare Group Inc), Option Agreement (Giant Interactive Group Inc.)

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Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment portion of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 6 contracts

Samples: Option Agreement (New Century Financial Corp), Option Agreement (New Century Financial Corp), Option Agreement (New Century Financial Corp)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its SubsidiariesAffiliates, affects the GranteeParticipant’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee Participant any right to remain employed by or in service to the Corporation or any SubsidiaryAffiliate, interferes in any way with the right of the Corporation or any Subsidiary Affiliate at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary Affiliate to increase or decrease the GranteeParticipant’s other compensation. Nothing in this paragraph, however, is intended to adversely affect any independent contractual right of the Participant without his/her consent thereto.

Appears in 5 contracts

Samples: Option Agreement (Future Labs Vi, Inc.), Option Agreement (Future Pearl Labs, Inc), Option Agreement (Piestro, Inc.)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule applicable to the Option requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 4 contracts

Samples: Nonqualified Stock Option Agreement (Francesca's Holdings CORP), Nonqualified Stock Option Agreement (Francesca's Holdings CORP), Nonqualified Stock Option Agreement (Synutra International, Inc.)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule applicable to the Option requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 6 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 4 contracts

Samples: Non Neo Option Agreement (Hcp, Inc.), Annual Ltip Option Agreement (Hcp, Inc.), Neo Annual Ltip Option Agreement (Hcp, Inc.)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its SubsidiariesAffiliates, affects the GranteeParticipant’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee Participant any right to remain employed by or in service to the Corporation or any SubsidiaryAffiliate, interferes in any way with the right of the Corporation or any Subsidiary Affiliate at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary Affiliate to increase or decrease the GranteeParticipant’s other compensation.

Appears in 4 contracts

Samples: Stock Option Agreement (Seracare Life Sciences Inc), 2011 Stock Incentive Plan (CytomX Therapeutics, Inc.), 2011 Stock Incentive Plan (CytomX Therapeutics, Inc.)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option Award and the rights and benefits under this Option Award Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Award Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 3 contracts

Samples: Option Agreement (Giant Interactive Group Inc.), Award Agreement (Apria Healthcare Group Inc), Employee Share Option Agreement (Acorn International, Inc.)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee Participant to any proportionate vesting as to such vesting period or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its SubsidiariesAffiliates, affects the GranteeParticipant’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee Participant any right to remain employed by or in service to the Corporation or any SubsidiaryAffiliate, interferes in any way with the right of the Corporation or any Subsidiary Affiliate at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary Affiliate to increase or decrease the GranteeParticipant’s other compensation.

Appears in 3 contracts

Samples: Nonqualified Stock Option Award Agreement (Francesca's Holdings CORP), Nonqualified Stock Option Award Agreement (Francesca's Holdings CORP), Nonqualified Stock Option Award Agreement (Francesca's Holdings CORP)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below 6 of these Terms or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation Company or any of its Subsidiaries, affects the GranteeParticipant’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee Participant any right to remain employed by or in service to the Corporation Company or any Subsidiary, interferes in any way with the right of the Corporation Company or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation Company or any Subsidiary to increase or decrease the GranteeParticipant’s other compensation.

Appears in 2 contracts

Samples: Option Agreement (SAMOYED HOLDING LTD), Option Agreement (SAMOYED HOLDING LTD)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will will” who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 2 contracts

Samples: Non Executive Employee Incentive Stock Option Agreement (NTN Buzztime Inc), Executive Employee Incentive Stock Option Agreement (NTN Buzztime Inc)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or of any of its Subsidiaries, affects the Grantee’s status, if he her or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right tight to remain employed by or in service to the Corporation or of any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Signature Group Holdings, Inc.), Nonqualified Stock Option Agreement (Signature Group Holdings, Inc.)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 5 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 2 contracts

Samples: Employment Agreement (Qlogic Corp), Employee Share Option Agreement (Origin Agritech LTD)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule applicable to the Option requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 5 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (International Rectifier Corp /De/)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option Restricted Shares and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below of these Terms or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation Company or any of its Subsidiaries, affects the GranteeParticipant’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee Participant any right to remain employed by or in service to the Corporation Company or any Subsidiary, interferes in any way with the right of the Corporation Company or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation Company or any Subsidiary to increase or decrease the GranteeParticipant’s other compensation.

Appears in 1 contract

Samples: Equity Incentive Plan Restricted Share Agreement (SAMOYED HOLDING LTD)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation Company or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation Company or any Subsidiary, interferes in any way with the right of the Corporation Company or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation Company or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 1 contract

Samples: Employee Share Incentive Plan (WuXi PharmaTech (Cayman) Inc.)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment portion of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 6 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 1 contract

Samples: Accelerated Stock Option Agreement (New Century Financial Corp)

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Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option Award and the rights and benefits under this Option Award Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Award Agreement or the Plan constitutes a continued employment or service commitment by the Corporation Company or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation Company or any Subsidiary, interferes in any way with the right of the Corporation Company or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation Company or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 1 contract

Samples: Award Agreement (Overland Storage Inc)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule Vesting Schedule set forth in this Option Agreement requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s 's status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s 's other compensation.

Appears in 1 contract

Samples: 2007 Performance Incentive Plan Nonqualified Stock Option Agreement (Red Robin Gourmet Burgers Inc)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below 6 of these Terms or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation Company or any of its Subsidiaries, affects the GranteeParticipant’s status, if he or she the Participant is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee Participant any right to remain employed by or in service to the Corporation Company or any Subsidiary, interferes in any way with the right of the Corporation Company or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation Company or any Subsidiary to increase or decrease the GranteeParticipant’s other compensation.

Appears in 1 contract

Samples: Option Agreement (Lixiang Education Holding Co . LTD)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation Company or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation Company or any Subsidiary, Subsidiary or interferes in any way with the right of the Corporation Company or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Guess Inc)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option RSUs and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below of these Terms or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation Company or any of its Subsidiaries, affects the GranteeParticipant’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee Participant any right to remain employed by or in service to the Corporation Company or any Subsidiary, interferes in any way with the right of the Corporation Company or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation Company or any Subsidiary to increase or decrease the GranteeParticipant’s other compensation.

Appears in 1 contract

Samples: Restricted Share Unit Agreement (SAMOYED HOLDING LTD)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment or service through each the applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (MSC Software Corp)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule Vesting Schedule set forth in this Option Agreement requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation or any of its Subsidiaries, affects the Grantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s other compensation.

Appears in 1 contract

Samples: 2007 Performance Incentive Plan Nonqualified Stock Option Agreement (Red Robin Gourmet Burgers Inc)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule Vesting Schedule set forth in this Option Agreement requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee Optionee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued employment or service commitment by the Corporation Company or any of its Subsidiaries, affects the GranteeOptionee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee Optionee any right to remain employed by or in service to the Corporation Company or any Subsidiary, interferes in any way with the right of the Corporation Company or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation Company or any Subsidiary to increase or decrease the GranteeOptionee’s other compensation. Optionee has no rights as a stockholder of the Company pursuant to this Option Agreement until and unless shares of Common Stock are actually delivered to Optionee.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Red Robin Gourmet Burgers Inc)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule requires continued employment by or service to the Company through each applicable vesting date as a condition to the vesting of the applicable installment of the Option and the rights and benefits under this Option Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Grantee Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided in Section 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes a continued an employment or service commitment by the Corporation or of any of its SubsidiariesSubsidiary, affects the Grantee’s Participant's status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Grantee Participant any right to remain employed by or in service to the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Subsidiary to increase or decrease the Grantee’s Participant's other compensation.

Appears in 1 contract

Samples: Plan Nonqualified Stock Option Agreement (Luminent Mortgage Capital Inc)

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