Optionee Representation; Not a Contract of Service Sample Clauses

The 'Optionee Representation; Not a Contract of Service' clause clarifies that the optionee is making certain representations or assurances, typically about their authority or eligibility, and that the agreement does not create an employment or service relationship. In practice, this means the optionee confirms they have the right to enter into the agreement and that their participation does not make them an employee, agent, or contractor of the company. This clause is important because it prevents misunderstandings about the nature of the relationship, ensuring that the optionee cannot claim employment rights or benefits as a result of the agreement.
Optionee Representation; Not a Contract of Service. The Optionee hereby represents that the Optionee’s execution of this Agreement and participation in the Plan is voluntary and that the Optionee has in no way been induced to enter into this Agreement in exchange for or as a requirement of the expectation of service with the Company or any of its parents and subsidiaries. Nothing in this Agreement or in the Plan shall confer upon the Optionee any right to continue as a Service Provider or shall interfere with or restrict in any way the rights of the Company or its parents and subsidiaries, which are hereby expressly reserved, to discharge the Optionee at any time for any reason whatsoever, with or without Cause except pursuant to an employment or consulting agreement executed by and between the Company and the Optionee and approved by the Board.
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Optionee Representation; Not a Contract of Service. The Optionee hereby represents that the Optionee’s execution of this Agreement and participation in the Plan is voluntary and that the Optionee has in no way been induced to enter into this Agreement in exchange for or as a requirement of the expectation of service with the Company or any of its Subsidiaries. Nothing in this Agreement or in the Plan shall confer upon the Optionee any right to continue as a Service Provider, or shall interfere with or restrict in any way the rights of the Company or its Subsidiaries, which are hereby expressly reserved, to discharge the Optionee at any time for any reason whatsoever, with or without Just Cause, except as may otherwise be provided pursuant to an employment or consulting agreement executed by and between the Company or any of its Subsidiaries and the Optionee. Optionee hereby agrees that, in consideration of the grant of the Option, (i) the grant of the Option and the rights under the Plan provide rights or benefits equal to or greater than the value of the rights and benefits provided to the Optionee under the stock option plan maintained by Hunting plc/▇▇▇▇▇▇ Energy, and (ii) any determination of the existence of Good Reason as set forth in subclauses [3.4(f)(ii) and (iii)] of the Optionee’s employment agreement with the Company or any of its Subsidiaries will require that any such change that is claimed to trigger Good Reason must be material such that the change would result in a material adverse impact to the Optionee’s compensation and benefits when such compensation and benefits are considered in the aggregate.
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Optionee Representation; Not a Contract of Service. The Optionee hereby represents that the Optionee’s execution of this Agreement and participation in the Plan is voluntary and that the Optionee has in no way been induced to enter into this Agreement in exchange for or as a requirement of the expectation of service with the Company or any of its Subsidiaries. Nothing in this Agreement or in the Plan shall confer upon the Optionee any right to continue as an Independent Director (or otherwise as a Service Provider) or shall interfere with or restrict in any way the rights of the Company, its Subsidiaries, or their respective stockholders to increase or decrease at any time the fees due to the Optionee as an Independent Director.
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Related to Optionee Representation; Not a Contract of Service

  • CONTRACT OF SERVICE (a) Each employee shall, upon engagement, be given a letter of appointment wherein the general conditions of employment are stated. (b) This shall include statements of: (i) the classification ; (ii) the wages step relevant to the appointment; (iii) the number of hours per week; (iv) the weeks per year the employee is engaged for; (v) whether the position is ongoing or temporary and why the position is temporary; and/or (vi) any other matter specific to the contract. (c) For the purposes of the Agreement, ongoing employment shall mean a position that continues as long as the position remains available. (d) When an employee accepts an appointment within the Catholic system in Western Australia for the first time, the appointment is probationary. The probationary period will not exceed 3 months and the employee shall be subject to appraisal in the third month of employment so as to confirm ongoing employment. (2) The letter of appointment shall not contain any provision that is inconsistent with or contrary to any provision of this Agreement. (3) Except in the case of a casual, temporary or relief employee, the termination of service of any employee shall require a minimum period of notice as set out below: (a) Employer’s period of notice Up to 3 years More than 3 years but less than 5 years at least 2 weeks at least 3 weeks If the employee is over 45 years of age and has served at least 2 years of continuous service this notice is to be increased by 1 week. (b) Notice of termination of service by an employee shall require a minimum of two (2) weeks’ notice. (c) Failure to give the required notice shall make that party liable to forfeiture of payment to the other party of an amount equivalent to that period of notice not given or served. (d) The requirements of this subclause may be waived in part or whole by mutual agreement between the employee and the employer. (4) A temporary employee shall be employed in a part-time or full-time capacity for a period greater than 4 weeks’ continuous service, and not more than a period of 12 months continuous service, except in the case of parental leave. (5) Where the period of employment of a casual employee exceeds 5 days the notice of termination of service shall be 1 day. Where the employment is for 5 days or less the engagement shall be considered to be a specific period and notice shall not be required. (6) A part-time employee shall have an entitlement to sick leave, long service leave and annual leave on a pro rata basis in the proportion of which his/her hours and/or weeks worked bear to the hours and/or weeks worked of a full-time employee. (7) Upon termination a statement of service and a separate reference when requested by the employee shall be provided to the employee by the employer. (8) Nothing within this clause detracts from the employer's right to dismiss summarily any employee for serious misconduct, in which case salary and entitlements shall be paid up to the time of dismissal only. (9) The employer may direct an employee to carry out such duties as are within the limits of the employee's skill, competence and training consistent with the classification structure of this Agreement, provided that such duties are not designed to promote ▇▇-▇▇▇▇▇▇▇▇.

  • Payee Representations For the purpose of Section 3(f) of this Agreement, Party A and Party B make the representations specified below, if any:

  • Additional Representation Section 3 is amended by the addition at the end thereof of the following additional representations (provided that the representation in Section 3(h) will be made by Party A only):

  • Executive Representation Executive hereby represents to the Company that the execution and delivery of this Agreement by Executive and the Company and the performance by Executive of Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any employment agreement or other agreement or policy to which Executive is a party or otherwise bound.

  • Employee Representations The Employee hereby represents and warrants to the Company that: (i) he is acquiring the Option and shall acquire the Option Shares for his own account and not with a view towards the distribution thereof; (ii) he has received a copy of all reports and documents required to be filed by the Company with the Commission pursuant to the Exchange Act within the last 24 months and all reports issued by the Company to its stockholders; (iii) he understands that he must bear the economic risk of the investment in the Option Shares, which cannot be sold by him unless they are registered under the Securities Act of 1933 (the "1933 Act") or an exemption therefrom is available thereunder and that the Company is under no obligation to register the Option Shares for sale under the 1933 Act; (iv) in his position with the Company, he has had both the opportunity to ask questions and receive answers from the officers and directors of the Company and all persons acting on its behalf concerning the terms and conditions of the offer made hereunder and to obtain any additional information to the extent the Company possesses or may possess such information or can acquire it without unreasonable effort or expense necessary to verify the accuracy of the information obtained pursuant to clause (ii) above; (v) he is aware that the Company shall place stop transfer orders with its transfer agent against the transfer of the Option Shares in the absence of registration under the 1933 Act or an exemption therefrom as provided herein; and (vi) in the absence of an effective registration statement under the 1933 Act, the certificates evidencing the Option Shares shall bear the following legend: "The shares represented by this certificate have been acquired for investment and have not been registered under the Securities Act of 1933. The shares may not be sold or transferred in the absence of such registration or an exemption therefrom under said Act."