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

Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By entering into this Agreement and accepting the grant of the Option evidenced hereby, you acknowledge: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the grant of the Option is a onetime benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (c) that all determinations with respect to any such future grants, including, but not limited to, the times when options will be granted, the number of shares subject to each option, the option price, and the time or times when each option will be exercisable, will be at the sole discretion of the Company; (d) that your participation in the Plan is voluntary; (e) that the value of the Option is an extraordinary item of compensation which is outside the scope of your employment contract, if any; (f) that the Option 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; (g) that the vesting of the Option ceases upon termination of employment or service relationship with the Company for any reason except as may otherwise be explicitly provided in the Plan or this Agreement or otherwise permitted by the Plan Administrator; (h) that the future value of the underlying Option Shares is unknown and cannot be predicted with certainty; and (i) that if the underlying Option Shares do not increase in value, the Option will have no value.

Appears in 3 contracts

Samples: Letter Agreement (HouseValues, Inc.), Incentive Stock Option Letter Agreement (HouseValues, Inc.), Letter Agreement (HouseValues, Inc.)

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Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By entering into this Agreement and accepting the grant of the Option evidenced hereby, you acknowledge: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the grant of the Option is a onetime one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (c) that all determinations with respect to any such future grants, including, but not limited to, the times when options will be granted, the number of shares subject to each option, the option price, and the time or times when each option will be exercisable, will be at the sole discretion of the Company; (d) that your participation in the Plan is voluntary; (e) that the value of the Option is an extraordinary item of compensation which is outside the scope of your employment contract, if any; (f) that the Option 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; (g) that the vesting of the Option ceases upon termination of employment or service relationship with the Company for any reason except as may otherwise be explicitly provided in the Plan or this Agreement or otherwise permitted by the Plan Administrator; (h) that the future value of the underlying Option Shares is unknown and cannot be predicted with certainty; and (i) that if the underlying Option Shares do not increase in value, the Option will have no value.

Appears in 3 contracts

Samples: Stock Option Letter Agreement (HouseValues, Inc.), Incentive Stock Option Letter Agreement (HouseValues, Inc.), Stock Option Letter Agreement (HouseValues, Inc.)

Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By entering into this Agreement and accepting the grant of the Option evidenced hereby, you acknowledge: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the grant of the Option is a onetime one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (c) that all determinations with respect to any such future grants, including, but not limited to, the times when options will be granted, the number of shares subject to each option, the option price, and the time or times when each option will be exercisable, will be at the sole discretion of the Company; (d) that your participation in the Plan is voluntary; (e) that the value of the Option is an extraordinary item of compensation which is outside the scope of your employment contract, if any; (f) that the Option 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; (g) that the vesting of the Option ceases upon termination of employment or service relationship with the Company for any reason except as may otherwise be explicitly provided in the Plan or this Agreement or otherwise permitted by the Plan AdministratorAgreement; (h) that the future value of the underlying Option Shares is unknown and cannot be predicted with certainty; and (i) that if the underlying Option Shares do not increase in value, the Option will have no value.

Appears in 3 contracts

Samples: Stock Option Agreement (Jones Soda Co), Stock Option Agreement (Telegen Corp /Co/), Stock Option Agreement (Jones Soda Co)

Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By entering into this Agreement and accepting the grant of the Option evidenced hereby, you acknowledgethe Optionee acknowledges that: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the grant of the Option is a onetime one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (c) that all determinations with respect to any such future grants, including, but not limited to, the times when options will be granted, the number of shares subject to each option, the option price, and the time or times when each option will be exercisable, will be at the sole discretion of the Company; (d) that your the Optionee’s participation in the Plan is voluntary; (e) that the value of the Option is an extraordinary item of compensation which is outside the scope of your the Optionee’s employment contract, if any; (f) that the Option 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; (g) that the vesting of the Option ceases upon termination of employment or service relationship with the Company or its Subsidiary for any reason except as may otherwise be explicitly provided in the Plan or this Agreement or otherwise permitted by the Plan AdministratorCommittee; (h) that the future value of the underlying Option Shares shares is unknown and cannot be predicted with certainty; and (i) that if the underlying Option Shares shares do not increase in value, the Option will have no value.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Egl Inc), Nonqualified Stock Option Agreement (Egl Inc)

Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By entering into this Grant Agreement and accepting the grant of the Option Grant evidenced hereby, you acknowledge: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the grant of the Option Grant is a onetime one-time benefit which that does not create any contractual or other right to receive future grants of SARs, options, or benefits in lieu of options; (c) that all determinations with respect to any such future grants, including, but not limited to, the times when options grants will be grantedmade, the number of shares subject to each optiongrant, the option pricexxxxx xxxxx, and the time or times when each option grant will be exercisable, will be at the sole discretion of the Company; (d) that your participation in the Plan is voluntary; (e) that the value of the Option Grant is an extraordinary item of compensation which that is outside the scope of your employment contract, if any; (f) that the Option Grant 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; (g) that the vesting of the Option Grant ceases upon termination your Termination of employment or service relationship with the Company Service for any reason except as may otherwise be explicitly provided in the Plan or this Grant Agreement or otherwise permitted by the Plan AdministratorCommittee; (h) that the future value of the Shares underlying Option Shares the Grant is unknown and cannot be predicted with certainty; and (i) that if the Shares underlying Option Shares the Grant do not increase in value, the Option Grant will have no value.

Appears in 2 contracts

Samples: Grant Agreement (Weyerhaeuser Co), Grant Agreement (Weyerhaeuser Co)

Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By entering into this Grant Agreement and accepting the grant of the Option Grant evidenced hereby, you acknowledge: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the grant of the Option Grant is a onetime one-time benefit which that does not create any contractual or other right to receive future grants of options, or benefits in lieu of optionsperformance plan awards; (c) that all determinations with respect to any such future grants, including, but not limited to, the times when options grants will be grantedmade, the number of shares performance plan awards subject to each optiongrant, the option pricexxxxx xxxxx, and the time or times when each option grant will be exercisable, will be at the sole discretion of the Company; (d) that your participation in the Plan is voluntary; (e) that the value of the Option Grant is an extraordinary item of compensation which that is outside the scope of your employment contract, if any; (f) that the Option Grant 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; (g) that the vesting of the Option Grant ceases upon your termination of employment or service relationship with the Company for any reason except as may otherwise and any unvested Awards will be explicitly provided in the Plan or this Agreement or otherwise permitted by the Plan Administratorforfeited; and (h) that the future value of the Shares underlying Option Shares the Grant is unknown and cannot be predicted with certainty; and (i) that if the underlying Option Shares do not increase in value, the Option will have no value.

Appears in 2 contracts

Samples: Performance Plan Award Agreement (Weyerhaeuser Co), Performance Plan Award Agreement (Weyerhaeuser Co)

Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By entering into this Agreement and accepting the grant of the Option evidenced hereby, you acknowledge: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the grant of the Option is a onetime one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (c) that all determinations with respect to any such future grants, including, but not limited to, the times when options will be granted, the number of shares Option Shares subject to each option, the option price, and the time or times when each option will be exercisable, will be at the sole discretion of the Company; (d) that your participation in the Plan is voluntary; (e) that the value of the Option is an extraordinary item of compensation which is outside the scope of your employment contract, if any; (f) that the Option 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; (g) that the vesting of the Option ceases upon termination of employment or service relationship with the Company for any reason except as may otherwise be explicitly provided in the Plan or this Agreement or otherwise permitted by the Plan AdministratorCompensation Committee of the Board of Directors of the Company; (h) that the future value of the underlying Option Shares is unknown and cannot be predicted with certainty; and (i) that if the underlying Option Shares do not increase in value, the Option will have no value.

Appears in 2 contracts

Samples: Stock Incentive Plan Stock Option Letter Agreement (ICO Global Communications (Holdings) LTD), Stock Option Letter Agreement (ICO Global Communications (Holdings) LTD)

Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By entering into this Agreement and accepting the grant of the Option evidenced hereby, you acknowledge: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the grant of the Option is a onetime one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (c) that all determinations with respect to any such future grants, including, but not limited to, the times when options will be granted, the number of shares subject to each option, the option price, and the time or times when each option will be exercisable, will be at the sole discretion of the Company; (d) that your participation in the Plan is voluntary; (e) that the value of the Option is an extraordinary item of compensation which is outside the scope of your employment contract, if any; (f) that the Option 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; (g) that the vesting of the Option ceases upon termination of employment or service relationship with the Company for any reason except as may otherwise be explicitly provided in the Plan or this Agreement or otherwise permitted by the Plan Administrator; (h) that the future value of the underlying Option Shares is unknown and cannot be predicted with certainty; and (i) that if the underlying Option Shares do not increase in value, the Option will have no value; and (j) that, in accepting this Option, you are agreeing to commit 100 percent of your professional time and efforts to your employment with the Company.

Appears in 1 contract

Samples: Mimvi (Mimvi, Inc.)

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Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By entering into this Agreement and accepting the grant of the Option an option evidenced hereby, you acknowledgeOptionee acknowledges: (ai) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (bii) that the grant of the Option option is a onetime one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (ciii) that all determinations with respect to any such future grants, including, but not limited to, the times when options will shall be granted, the number of shares subject to each option, the option price, and the time or times when each option will shall be exercisable, will be at the sole discretion of the Company; (div) that your the Optionee’s participation in the Plan is voluntary; (ev) that the value of the Option option is an extraordinary item of compensation which is outside the scope of your the Optionee’s employment contract, if any; (fvi) that the Option option 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; (gvii) that the vesting of the Option any option ceases upon termination of employment or service relationship with the Company for any reason except as may otherwise be explicitly provided in the Plan or this Agreement or otherwise permitted by the Plan Administratoragreement; (hviii) that the future value of the underlying Option Shares shares is unknown and cannot be predicted with certainty; and (iix) that if the underlying Option Shares shares do not increase in value, the Option option will have no value.

Appears in 1 contract

Samples: Term Incentive Plan (Paccar Inc)

Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By entering into this Agreement and accepting the grant of the Option evidenced hereby, you acknowledge: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the grant of the Option is a onetime one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (c) that all determinations with respect to any such future grants, including, but not limited to, the times when options will be granted, the number of shares subject to each option, the option price, and the time or times when each option will be exercisable, will be at the sole discretion of the Company; (d) that your participation in the Plan is voluntary; (e) that the value of the Option is an extraordinary item of compensation which is outside the scope of your employment contract, if any; (f) that the Option 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; (g) that the vesting of the Option ceases upon termination of employment or service relationship with the Company for any reason except as may otherwise be explicitly provided in the Plan or this Agreement or otherwise permitted by the Plan Administrator; (h) that the future value of the underlying Option Shares is unknown and cannot be predicted with certainty; and (i) that if the underlying Option Shares do not increase in value, the Option will have no value.. Please execute the following Acceptance and Acknowledgment and return it to the undersigned. Very truly yours, CORILLIAN CORPORATION By Its

Appears in 1 contract

Samples: Employment Agreement (Corillian Corp)

Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By entering into this Agreement and accepting the grant of the Option evidenced hereby, you acknowledge: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the grant of the Option is a onetime one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (c) that all determinations with respect to any such future grants, including, but not limited to, the times when options will be granted, the number of shares subject to each option, the option price, and the time or times when each option will be exercisable, will be at the sole discretion of the Company; (d) that your participation in the Plan is voluntary; (e) that the value of the Option is an extraordinary item of compensation which is outside the scope of your employment contract, if any; (f) that the Option 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; (g) that the vesting of the Option ceases upon termination of employment or service relationship with the Company for any reason except as may otherwise be explicitly provided in the Plan or this Agreement or otherwise permitted by the Plan AdministratorAgreement; (h) that the future value of the underlying Option Shares is unknown and cannot be predicted with certainty; and (i) that if the underlying Option Shares do not increase in value, the Option will have no value.. DATED as of the Date of Grant set forth above. PACIFIC BIOMETRICS, INC. By: -------------------------------- Its: -------------------------------- Name: --------------------------------

Appears in 1 contract

Samples: Stock Option Agreement (Pacific Biometrics Inc)

Limitation on Rights; No Right to Future Grants; Extraordinary Item of Compensation. By entering into this Agreement and accepting the grant of the Option evidenced hereby, you acknowledge: (a) that the Plan is discretionary in nature and may be suspended or terminated by the Company at any time; (b) that the grant of the Option is a onetime one-time benefit which does not create any contractual or other right to receive future grants of options, or benefits in lieu of options; (c) that all determinations with respect to any such future grants, including, but not limited to, the times when options will be granted, the number of shares subject to each option, the option price, and the time or times when each option will be exercisable, will be at the sole discretion of the Company; (d) that your participation in the Plan is voluntary; (e) that the value of the Option is an extraordinary item of compensation which is outside the scope of your employment contract, if any; (f) that the Option 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; (g) that the vesting of the Option ceases upon termination of employment or service relationship with the Company for any reason except as may otherwise be explicitly provided in the Plan or this Agreement or otherwise permitted by the Plan Administrator; (h) that the future value of the underlying Option Shares is unknown and cannot be predicted with certainty; and (i) that if the underlying Option Shares do not increase in value, the Option will have no value.. Please execute the following Acceptance and Acknowledgment and return it to the undersigned. Very truly yours, Corillian Corporation By Its

Appears in 1 contract

Samples: Corillian Corp

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