Common use of Limitation on Participant’s Rights Clause in Contracts

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Common Stock as a general unsecured creditor with respect to options, as and when exercised pursuant to the terms hereof.

Appears in 17 contracts

Samples: Non Employee Director (Stec, Inc.), Stock Option Grant Notice And (Golden Entertainment, Inc.), Stock Option Agreement (Camping World Holdings, Inc.)

AutoNDA by SimpleDocs

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Common Stock as a general unsecured creditor with respect to options, as and when exercised pursuant to the terms hereof.

Appears in 4 contracts

Samples: Stock Option Agreement (Tessera Technologies Inc), Incentive Award Plan Stock Option Award Agreement (Axalta Coating Systems Ltd.), Stock Option Agreement (McBc Holdings, Inc.)

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Common Stock Shares as a general unsecured creditor with respect to optionsthe Option, as and when exercised pursuant to the terms hereof.

Appears in 3 contracts

Samples: Employment Agreement (Merus N.V.), Consulting Agreement (MeiraGTx Holdings PLC), Employment Agreement (Virgin Galactic Holdings, Inc)

Limitation on Participant’s Rights. Participation in the Plan The Option confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan this Agreement nor any underlying program, in and of itself, has any assets. Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Common Stock as a general unsecured creditor with respect to options, as and when exercised pursuant to the terms hereof.

Appears in 3 contracts

Samples: Stock Option Agreement (Codexis Inc), Stock Option Agreement (Codexis Inc), Stock Option Agreement (Codexis Inc)

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Common Stock Shares as a general unsecured creditor with respect to optionsthe Option, as and when exercised pursuant to the terms hereof.

Appears in 3 contracts

Samples: Option Agreement (Beauty Health Co), Employment Agreement (Beauty Health Co), Employment Agreement (Beauty Health Co)

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Common Stock as a general unsecured creditor with respect to options, as and when exercised pursuant to the terms hereof.

Appears in 2 contracts

Samples: Stock Option Agreement (Electronics for Imaging Inc), Stock Option Agreement (Tivo Inc)

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of arrangement between the Company as to amounts payable and Participant only and shall not be construed as creating a trusttrust for the benefit of Participant. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Common Stock Shares as a general unsecured creditor with respect to optionsthe Option, as and when exercised pursuant to the terms hereof.

Appears in 2 contracts

Samples: Stock Option Award Agreement (3m Co), Stock Option Award Agreement (3m Co)

AutoNDA by SimpleDocs

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Common Stock Shares as a general unsecured creditor with respect to options, as and when exercised pursuant to the terms hereof.

Appears in 2 contracts

Samples: Stock Option Agreement (Motorcar Parts America Inc), Option Agreement (Avago Technologies LTD)

Limitation on Participant’s Rights. Participation in the Plan This Agreement confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan this Agreement nor any underlying program, in and of itself, has any assets. Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Common Stock Shares as a general unsecured creditor with respect to options, as and when exercised pursuant to the terms hereof.. 5.19

Appears in 1 contract

Samples: Stock Option Agreement (Elicio Therapeutics, Inc.)

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the OptionRSUs, and rights no greater than the right to receive the Common Stock Shares as a general unsecured creditor with respect to optionscreditor, as and when exercised the Shares are issued pursuant to the terms hereof.

Appears in 1 contract

Samples: Restricted Stock (Dasan Zhone Solutions Inc)

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Option, and rights no greater than the right to receive the Common Stock Shares as a general unsecured creditor with respect to optionsthe Option, as and when exercised pursuant to the terms hereofof this Agreement.

Appears in 1 contract

Samples: Stock Option Agreement (Tempo Automation Holdings, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.