Common use of No Effect on Employment Rights Clause in Contracts

No Effect on Employment Rights. Nothing contained in this Agreement or any modification or amendment hereto, or the payment of any benefit, gives or shall be deemed to give Executive any right to continued employment, or any legal or equitable right against Employers or any employee of Employers. Moreover, nothing contained in this Agreement or any modification or amendment hereto, or the payment of any benefit shall modify, or otherwise have any effect on, Executive's employment relationship with Employers. This Agreement shall also not affect Executive's rights under any employee benefit plan offered by Employers, such as any pension or profit-sharing, medical, dental or hospitalization, life insurance, AD&D, bonus, incentive compensation, stock option, or vacation pay plan. Executive's rights under those plans are governed solely by their terms, and Executive should review those plans to ascertain his rights under them. In particular, Executive's receipt of a Change in Control Benefit under this Agreement does not change the date of his termination of employment for purposes under any such plans.

Appears in 2 contracts

Samples: Change in Control Agreement (Bay Commercial Services), Change in Control Agreement (Bay Commercial Services)

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No Effect on Employment Rights. Nothing contained in this Agreement or any modification or amendment hereto, or the payment of any benefit, gives or shall be deemed to give Executive any right to continued employment, or any legal or equitable right against Employers Employer or any employee of EmployersEmployer. Moreover, nothing contained in this Agreement or any modification or amendment hereto, or the payment of any benefit shall modify, or otherwise have any effect on, Executive's ’s employment relationship with EmployersEmployer. This Agreement shall also not affect Executive's ’s rights under any employee benefit plan offered by EmployersEmployer, such as any pension or profit-sharing, non-qualified deferred compensation arrangement, medical, dental or hospitalization, life insurance, AD&D, bonus, incentive compensation, stock option, or vacation pay plan. Executive's ’s rights under those plans are governed solely by their terms, and Executive should review those plans to ascertain his rights under them. In particular, Executive's ’s receipt of a Change in Control Benefit under this Agreement does not change the date of his termination of employment for purposes under any such plans.

Appears in 1 contract

Samples: Change in Control Agreement (Tamalpais Bancorp)

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No Effect on Employment Rights. Nothing contained in this Agreement or any modification or amendment hereto, or the payment of any benefit, gives or shall be deemed to give Executive any right to continued employment, or any legal or equitable right against Employers Employer or any employee of EmployersEmployer. Moreover, nothing contained in this Agreement or any modification or amendment hereto, or the payment of any benefit shall modify, or otherwise have any effect on, Executive's employment relationship with EmployersEmployer. This Agreement shall also not affect Executive's rights under any employee benefit plan offered by EmployersEmployer, such as any pension or profit-sharing, medical, dental or hospitalization, life insurance, AD&D, bonus, incentive compensation, stock option, or vacation pay plan. Executive's rights under those plans are governed solely by their terms, and Executive should review those plans to ascertain his rights under them. In particular, Executive's receipt of a Change in Control Benefit under this Agreement does not change the date of his termination of employment for purposes under any such plans.

Appears in 1 contract

Samples: Change in Control Agreement (Bay Commercial Services)

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