Common use of NO OBLIGATION TO MAINTAIN RELATIONSHIP Clause in Contracts

NO OBLIGATION TO MAINTAIN RELATIONSHIP. The Participant acknowledges that: (i) the Company is not by the Plan or this Restricted Stock Unit Award obligated to continue the Participant as an Employee, Non-Employee Director, consultant or advisor of the Company or an Affiliate; (ii) the Plan is discretionary in nature and may be modified, suspended or terminated by the Company at any time; (iii) the grant of the Restricted Stock Unit Award is a one-time benefit that does not create any contractual or other right to receive future grants of equity, or benefits in lieu thereof; (iv) all determinations with respect to any such future grants, including, but not limited to, the times when awards shall be granted, the number of shares subject to each restricted stock unit award, and the time or times when each award shall vest, will be at the sole discretion of the Company; (v) the Participant’s participation in the Plan is voluntary; (vi) the value of the Restricted Stock Unit Award is an extraordinary item of compensation which is outside the scope of the Participant’s employment or consulting contract, if any; and (vii) the Restricted Stock Unit Award is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.

Appears in 6 contracts

Samples: Restricted Stock Unit Award (Vertex Pharmaceuticals Inc / Ma), Restricted Stock Unit Award (Vertex Pharmaceuticals Inc / Ma), Restricted Stock Unit Award (Vertex Pharmaceuticals Inc / Ma)

AutoNDA by SimpleDocs

NO OBLIGATION TO MAINTAIN RELATIONSHIP. The Participant acknowledges that: (i) the Company is not by the Plan or this Restricted Stock Unit Award Agreement obligated to continue the Participant as an Employee, Non-Employee Director, consultant director or advisor Consultant of the Company or an Affiliate; (ii) the Plan is discretionary in nature and may be modified, suspended or terminated by the Company at any time; (iii) the grant of the Restricted Stock Unit Award Granted Shares is a one-time benefit that which does not create any contractual or other right to receive future grants of equityShares, or benefits in lieu thereofof Shares; (iv) all determinations with respect to any such future grants, including, but not limited to, the times when awards Shares shall be granted, the number of shares subject Shares to each restricted stock unit awardbe granted, the purchase price, and the time or times when each award Share shall vestbe free from a lapsing repurchase or forfeiture right, will be at the sole discretion of the Company; (v) the Participant’s participation in the Plan is voluntary; (vi) the value of the Restricted Stock Unit Award Granted Shares is an extraordinary item of compensation which is outside the scope of the Participant’s employment or consulting contract, if any; and (vii) the Restricted Stock Unit Award is Granted Shares are not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.

Appears in 5 contracts

Samples: Restricted Stock Agreement (Inhibrx, Inc.), Restricted Stock Agreement (Inhibrx, Inc.), Restricted Stock Agreement (BioHorizons, Inc.)

NO OBLIGATION TO MAINTAIN RELATIONSHIP. The Participant acknowledges that: (i) the Company is not by the Plan or this Restricted Stock Unit Award Agreement obligated to continue the Participant as an Employee, Non-Employee Director, consultant Director or advisor Consultant of the Company or an Affiliate; (ii) the Plan is discretionary in nature and may be modified, suspended or terminated by the Company at any time; (iii) the grant of the Restricted Stock Unit Award Granted Shares is a one-time benefit that which does not create any contractual or other right to receive future grants of equityShares, or benefits in lieu thereofof Shares; (iv) all determinations with respect to any such future grants, including, but not limited to, the times when awards Shares shall be granted, the number of shares subject Shares to each restricted stock unit awardbe granted, the purchase price, and the time or times when each award Share shall vestbe free from a lapsing repurchase or forfeiture right, will be at the sole discretion of the Company; (v) the Participant’s participation in the Plan is voluntary; (vi) the value of the Restricted Stock Unit Award Granted Shares is an extraordinary item of compensation which is outside the scope of the Participant’s employment or consulting contract, if any; and (vii) the Restricted Stock Unit Award is Granted Shares are not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.

Appears in 2 contracts

Samples: Restricted Stock Agreement (Spero Therapeutics, Inc.), Restricted Stock Agreement (Spero Therapeutics, Inc.)

AutoNDA by SimpleDocs

NO OBLIGATION TO MAINTAIN RELATIONSHIP. The Participant acknowledges that: (i) the Company is not obligated by the Plan or this Restricted Stock Unit Award obligated to continue the Participant as an Employee, Non-Employee Director, consultant or advisor of the Company or an Affiliate; (ii) the Plan is discretionary in nature and may be modified, suspended or terminated by the Company at any time; (iii) the grant of the this Restricted Stock Unit Award is a one-time benefit that does not create any contractual or other right to receive future grants of equity, or benefits in lieu thereof; (iv) all determinations with respect to any such future grants, including, but not limited to, the times when restricted stock unit awards shall be granted, the number of shares subject to each restricted stock unit award, and the time or times when each restricted stock unit award shall vest, will be at the sole discretion of the Company; (v) the Participant’s participation in the Plan is voluntary; (vi) the value of the this Restricted Stock Unit Award is an extraordinary item of compensation which is outside the scope of the Participant’s employment or consulting contract, if any; and (vii) the this Restricted Stock Unit Award is not part of normal or expected compensation for purposes of calculating any severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments.

Appears in 2 contracts

Samples: Restricted Stock Unit Award (Vertex Pharmaceuticals Inc / Ma), Restricted Stock Unit Award (Vertex Pharmaceuticals Inc / Ma)

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