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 in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award and the rights and benefits under this Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service as provided in Section 6 below or under the Plan. Nothing contained in this Agreement or the Plan constitutes an employment or service commitment by the Corporation or any of its Affiliates, affects the 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 Participant any right to remain employed by or in service to the Corporation or any Affiliate, interferes in any way with the right of the Corporation or any Affiliate at any time to terminate such employment or service, or affects the right of the Corporation or any Affiliate to increase or decrease the Participant’s other compensation or benefits.

Appears in 3 contracts

Samples: Stock Incentive Plan (Durata Therapeutics, Inc.), 2011 Stock Incentive Plan (CytomX Therapeutics, Inc.), 2011 Stock Incentive Plan (CytomX Therapeutics, Inc.)

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Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award 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 Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 below of these Terms or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes an a continued employment or service commitment by the Corporation Company or any of its Affiliates, affects the 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 Participant any right to remain employed by or in service to the Corporation Company or any Affiliate, interferes in any way with the right of the Corporation Company or any Affiliate at any time to terminate such employment or service, or affects the right of the Corporation Company or any Affiliate to increase or decrease the Participant’s other compensation or benefitscompensation.

Appears in 3 contracts

Samples: Option Agreement (Hexindai Inc.), Option Agreement (Hexindai Inc.), Option Agreement (Hexindai Inc.)

Continuance of Employment/Service Required; No Employment/Service Commitment. The Except as expressly provided in Section 4 below, the vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award 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 Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes an employment or service commitment by the Corporation or any of its AffiliatesSubsidiaries, affects the Participant’s status, if he or she is an employee, status as an employee at will who is subject to termination without cause, confers upon the Participant any right to remain employed by or in service to the Corporation or any AffiliateSubsidiary, interferes in any way with the right of the Corporation or any Affiliate Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation or any Affiliate Subsidiary to increase or decrease the Participant’s other compensation or benefitscompensation.

Appears in 2 contracts

Samples: Award Plan Stock Option Agreement (Corinthian Colleges Inc), Stock Option Agreement (Corinthian Colleges Inc)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award 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 Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes an a continued employment or service commitment by the Corporation or any of its AffiliatesCompany, affects the 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 Participant any right to remain employed by or in service to the Corporation or any AffiliateCompany, interferes in any way with the right of the Corporation or any Affiliate Company at any time to terminate such employment or service, or affects the right of the Corporation or any Affiliate Company to increase or decrease the Participant’s other compensation or benefitscompensation.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Seracare Life Sciences Inc), Nonqualified Stock Option Agreement (Seracare Life Sciences Inc)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award and the rights and benefits under this Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 8 below or under the Plan. Nothing contained in this Agreement or the Plan constitutes an employment or service commitment by the Corporation or any of its AffiliatesCompany, affects the Participant’s status, if he or she is an employee, status as an employee at will who is subject to termination without cause, confers upon the Participant any right to remain employed by or in service to the Corporation Company or any AffiliateSubsidiary, interferes in any way with the right of the Corporation Company or any Affiliate Subsidiary at any time to terminate such employment or serviceservices, or affects the right of the Corporation Company or any Affiliate Subsidiary to increase or decrease the Participant’s other compensation or benefits. Nothing in this paragraph, however, is intended to adversely affect any independent contractual right of the Participant without his consent thereto.

Appears in 2 contracts

Samples: Performance Stock Unit Award Agreement (Exar Corp), Stock Unit Award Agreement (Exar Corp)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award and the rights and benefits under this Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 7 below or under the Plan. Nothing contained in this Agreement or the Plan constitutes an employment or service commitment by the Corporation or any of its AffiliatesCorporation, affects the Participant’s status, if he or she is an employee, 's status as an employee at will who is subject to termination without cause, confers upon the Participant any right to remain employed by or in service to the Corporation or any AffiliateSubsidiary, interferes in any way with the right of the Corporation or any Affiliate Subsidiary at any time to terminate such employment or serviceservices, or affects the right of the Corporation or any Affiliate Subsidiary to increase or decrease the Participant’s 's other compensation or benefits. Nothing in this paragraph, however, is intended to adversely affect any independent contractual right of the Participant without his consent thereto.

Appears in 2 contracts

Samples: Stock Unit Award Agreement (Alaska Air Group Inc), Stock Unit Award Agreement (Alaska Air Group Inc)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award 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 Participant Grantee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes an a continued employment or service commitment by the Corporation or any of its AffiliatesCompany, affects the ParticipantGrantee’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Participant Grantee any right to remain employed by or in service to the Corporation or any AffiliateCompany, interferes in any way with the right of the Corporation or any Affiliate Company at any time to terminate such employment or service, or affects the right of the Corporation or any Affiliate Company to increase or decrease the ParticipantGrantee’s other compensation or benefitscompensation.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Alaska Air Group Inc), Nonqualified Stock Option Agreement (Alaska Air Group Inc)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award 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 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 service services as provided in Section 6 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes an a continued employment or service commitment by the Corporation or any of its Affiliates, affects the 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 Participant any right to remain employed by or in service to the Corporation or any Affiliate, interferes in any way with the right of the Corporation or any Affiliate at any time to terminate such employment or service, or affects the right of the Corporation or any Affiliate to increase or decrease the Participant’s other compensation or benefitscompensation.

Appears in 1 contract

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

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award Option and the rights and benefits under this Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Participant Individual to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 below or under the Plan4 below. Nothing contained in this Agreement or the Plan constitutes an a continued employment or service commitment by the Corporation Company or any of its Affiliatessubsidiaries (each a “Subsidiary”), affects the ParticipantIndividual’s status, if he or she is an employee, as an employee at will who is subject to termination without cause, confers upon the Participant Individual any right to remain employed by or in service to the Corporation Company or any AffiliateSubsidiary, interferes in any way with the right of the Corporation Company or any Affiliate Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation Company or any Affiliate Subsidiary to increase or decrease the ParticipantIndividual’s other compensation or benefitscompensation.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Sun Cheng Yaw)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award Option and the rights and benefits under this Option Agreement. Employment Partial employment or service for only a portion of the vesting periodservice, even if a substantial portionsubstantial, during any vesting period will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes an employment or service commitment by the Corporation or any of its AffiliatesCompany, affects the Participant’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 Participant any right to remain employed by or in service to the Corporation Company or any AffiliateSubsidiary, interferes in any way with the right of the Corporation Company or any Affiliate Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation Company or any Affiliate Subsidiary to increase or decrease the Participant’s 's other compensation or benefitscompensation.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (BMC, Ltd.)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date (as the same may be accelerated hereunder) as a condition to the vesting of the applicable installment of the Award 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 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 service services as provided in Section 6 5 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes an a continued employment or service commitment by the Corporation or any of its Affiliates, affects the 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 Participant any right to remain employed by or in service to the Corporation or any Affiliate, interferes in any way with the right of the Corporation or any Affiliate at any time to terminate such employment or service, or affects the right of the Corporation or any Affiliate to increase or decrease the Participant’s other compensation or benefitscompensation.

Appears in 1 contract

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

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Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award Restricted Shares and the rights and benefits under this Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 below 4 of these Terms or under the Plan. Nothing contained in this Agreement or the Plan constitutes an a continued employment or service commitment by the Corporation Company or any of its AffiliatesSubsidiaries, affects the Participant’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 Participant any right to remain employed by or in service to the Corporation Company or any AffiliateSubsidiary, interferes in any way with the right of the Corporation Company or any Affiliate Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation Company or any Affiliate Subsidiary to increase or decrease the Participant’s other compensation or benefitscompensation.

Appears in 1 contract

Samples: Restricted Share Agreement (Lixiang Education Holding Co . LTD)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award 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 Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes an a continued employment or service commitment by the Corporation Company or any of its Affiliates, affects the 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 Participant any right to remain employed by or in service to the Corporation Company or any Affiliate, interferes in any way with the right of the Corporation Company or any Affiliate at any time to terminate such employment or service, or affects the right of the Corporation Company or any Affiliate to increase or decrease the Participant’s other compensation or benefitscompensation.

Appears in 1 contract

Samples: Option Agreement (HiSoft Technology International LTD)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award 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 Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes an a continued employment or service commitment by the Corporation Company or any of its Affiliates, affects the 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 Participant any right to remain employed by or in service to the Corporation Company or any Affiliate, interferes in any way with the right of the Corporation Company or any Affiliate at any time to terminate such employment or service, or affects the right of the Corporation Company or any Affiliate to increase or decrease the Participant’s other compensation or benefitscompensation. Nothing in this paragraph, however, is intended to adversely affect any independent contractual right of the Participant without his/her consent thereto.

Appears in 1 contract

Samples: Stock Option Agreement (Agendia N.V.)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 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 Award Option and the rights and benefits under this Agreement. Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 7 below or under the Plan. Nothing contained in this Agreement or the Plan constitutes an a continued employment or service commitment by the Corporation Company or any of its AffiliatesSubsidiaries, affects the 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 Participant any right to remain employed by or in service to the Corporation Company or any AffiliateSubsidiary, interferes in any way with the right of the Corporation Company or any Affiliate Subsidiary at any time to terminate such employment or service, or affects the right of the Corporation Company or any Affiliate Subsidiary to increase or decrease the Participant’s other compensation or benefitscompensation. Nothing in this Agreement, however, is intended to adversely affect any independent contractual right of the Participant without his/her consent thereto.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Malibu Boats, Inc.)

Continuance of Employment/Service Required; No Employment/Service Commitment. The vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award Option and the rights and benefits under this Agreement. Option Agreement Employment or service for only a portion of the vesting period, even if a substantial portion, will not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes an a continued employment or service commitment by the Corporation or any of its Affiliates, affects the 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 Participant any right to remain employed by or in service to the Corporation or any Affiliate, interferes in any way with the right of the Corporation or any Affiliate at any time to terminate such employment or service, or affects the right of the Corporation or any Affiliate to increase or decrease the Participant’s other compensation or benefitscompensation.

Appears in 1 contract

Samples: Stock Incentive Plan (SafeNet Holding Corp)

Continuance of Employment/Service Required; No Employment/Service Commitment. The Except as provided in Section 1 of this Agreement, the vesting schedule in Section 3 requires continued employment or service through each applicable vesting date as a condition to the vesting of the applicable installment of the Award 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 Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service services as provided in Section 6 4 below or under the Plan. Nothing contained in this Option Agreement or the Plan constitutes an a continued employment or service commitment by the Corporation or any of its Affiliates, affects the 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 Participant any right to remain employed by or in service to the Corporation or any Affiliate, interferes in any way with the right of the Corporation or any Affiliate at any time to terminate such employment or service, or affects the right of the Corporation or any Affiliate to increase or decrease the Participant’s other compensation or benefitscompensation.

Appears in 1 contract

Samples: Stock Incentive Plan (Durata Therapeutics, Inc.)

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