Common use of Limitation on Rights; No Right to Future Grants; Extraordinary Item Clause in Contracts

Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the Award, Grantee acknowledges that: (a) Grantee's participation in the Plan is voluntary; and (b) the Award is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Grantee will not be entitled to compensation or damages as a consequence of Grantee's forfeiture of any unvested portion of the Award as a result of Grantee's separation from service with the Company or any Subsidiary for any reason.

Appears in 4 contracts

Samples: Restricted Stock Agreement (First Commonwealth Financial Corp /Pa/), Performance Unit Agreement (First Commonwealth Financial Corp /Pa/), Restricted Stock Agreement (First Commonwealth Financial Corp /Pa/)

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Limitation on Rights; No Right to Future Grants; Extraordinary Item. By entering into this Agreement and accepting the Award, Grantee acknowledges that: (a) Grantee's ’s participation in the Plan is voluntary; and (b) the Award is not part of normal or expected compensation for any purpose, including without limitation for calculating any benefits, severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, and Grantee will not be entitled to compensation or damages as a consequence of Grantee's ’s forfeiture of any unvested portion of the Award as a result of Grantee's ’s separation from service with the Company or any Subsidiary for any reason.

Appears in 2 contracts

Samples: Restricted Stock Agreement (First Commonwealth Financial Corp /Pa/), Restricted Stock Agreement (First Commonwealth Financial Corp /Pa/)

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