Acknowledgment and Waiver Clause Samples
The Acknowledgment and Waiver clause serves to confirm that a party is fully aware of certain facts, risks, or rights, and voluntarily agrees to relinquish or not assert specific claims or protections. In practice, this clause might require a party to acknowledge understanding the potential risks involved in an activity or transaction, and to waive the right to hold the other party liable for those risks. Its core function is to ensure that parties enter into agreements with informed consent and to limit future disputes by preemptively addressing and waiving certain legal claims.
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Acknowledgment and Waiver. The Employee understands, acknowledges and agrees that:
(a) except as provided in Sections 8 and 9, the vesting of the RSUs is earned only by continuing employment with the Company or one of its Subsidiaries or Affiliates and that being hired and granted RSUs will not result in the RSUs vesting;
(b) this Grant Agreement and its incorporated documents reflect all agreements on its subject matters and the Employee is not accepting this Grant Agreement based on any promises, representations or inducements other than those reflected in this Grant Agreement;
(c) all good faith decisions and interpretations of the Committee regarding the Plan and RSUs granted under the Plan are binding, conclusive and final;
(d) the Plan is established voluntarily by the Company, it is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time;
(e) the grant of RSUs is exceptional, voluntary and occasional and does not create any contractual or other right to receive future grants of RSUs or other awards, or benefits in lieu of RSUs, even if Shares or RSUs have been granted in the past;
(f) all decisions with respect to future grants, if any, will be at the sole discretion of the Company;
(g) the Employee’s participation in the Plan shall not create a right to further employment with the Employer and shall not interfere with the ability of the Employer to terminate the Employee’s employment relationship at any time and it is expressly agreed and understood that employment is terminable at the will of either party;
(h) the Employee is voluntarily participating in the Plan;
(i) RSUs and their resulting benefits are extraordinary items that are outside the scope of the Employee’s employment contract, if any;
(j) RSUs and their resulting benefits are not intended to replace any pension rights or compensation;
(k) RSUs and their resulting benefits are not part of normal or expected compensation or salary for any purposes, including, but not limited to calculating any severance, resignation, termination, redundancy, dismissal, end of service payments, bonuses, holiday pay, long-service awards, pension or retirement or welfare benefits or similar payments;
(l) unless otherwise agreed by the Company, the RSUs and their resulting benefits are not granted as consideration for, or in connection with, the service the Employee may provide as a director of a Subsidiary or Affiliate;
(m) this grant of RSUs will not be interpreted to form an employm...
Acknowledgment and Waiver. By [signing the Notice of Grant] [accepting this Award], you agree that:
(a) Your participation in the Plan is voluntary.
(b) Your Restricted Stock Units are not part of your normal or expected compensation or salary for any purpose, including, but not limited to, calculating any termination, severance, resignation, redundancy, or end of service payments, bonuses, long-service awards, pension or retirement benefits, or similar payments, except as may be specifically provided for by the applicable plan or agreement.
(c) The future value of the Restricted Stock Units is unknown and cannot be predicted.
(d) This award of Restricted Stock Units does not create an employment relationship between you and any entity.
(e) You have no right to make a claim of entitlement to compensation or damages because of the forfeiture of any portion of this Restricted Stock Unit award. If it should be determined that you did acquire any such rights, you irrevocably agree to release LSI and its Affiliates, officers and employees from any such claim to the extent permitted by applicable law.
Acknowledgment and Waiver. By [signing the Notice of Grant] [accepting this Award], you agree that:
(a) Your participation in the Plan is voluntary.
(b) Your option is not part of your normal or expected compensation or salary for any purpose, including, but not limited to, calculating any termination, severance, resignation, redundancy, or end of service payments, bonuses, long-service awards, pension or retirement benefits, or similar payments, except as may be specifically provided for by the applicable plan or agreement.
(c) The future value of the Shares subject to your option is unknown and cannot be predicted. It is possible that you will not make any money from this option.
(d) This option does not create an employment relationship between you and any entity.
(e) You have no right to make a claim of entitlement to compensation or damages because of the expiration or termination this option, or any diminution in value of the option, or Shares purchased under the Plan. If it should be determined that you did acquire any such rights, you irrevocably agree to release LSI and its Affiliates, officers and employees from any such claim to the extent permitted by applicable law.
(f) The Plan will not be deemed to constitute, and you agree not to claim that the Plan constitutes, part of the terms and conditions of your employment with the Company, and the Company will not have any liability of any kind to you as a result of any change, amendment or termination of the Plan at any time unless and only to the extent that change, amendment or termination has an adverse effect on an Award you hold.
(g) This option shall not be entitled to any acceleration of vesting or exercisability under any plan or policy of the LSI providing for the acceleration of vesting or exercisability of equity awards following a change in control, where such acceleration would otherwise be provided for under such plan or policy based, solely or in conjunction with any other event, on the acquisition of LSI by Avago Technologies Limited in accordance with the merger agreement dated as of December 15, 2013, as amended from time to time.
Acknowledgment and Waiver. The Purchaser, on its own behalf and/or on behalf of others for whom the Purchaser is contracting hereunder, has acknowledged that the decision to purchase the Purchased Securities was made solely on the basis of publicly available information. Accordingly, the decision to acquire the Purchased Securities has also been made on the basis of currently available public information.
Acknowledgment and Waiver. The Debtor hereby:
(a) acknowledges receiving a copy of this Security Agreement; and
(b) waives all rights to receive from the Secured Party a copy of any financing statement, financing change statement or verification statement filed or issued, as the case may be, at any time in respect of this Security Agreement or any amendments hereto.
Acknowledgment and Waiver. By executing the Grant Letter, participating in the Plan and accepting the grant of the Option evidenced hereby, the Participant agrees and acknowledges that:
(a) the Plan is discretionary in nature and that the Corporation can amend, cancel or terminate the Plan at any time;
(b) the grant of the Option under the Plan is voluntary and occasional, and does not create any contractual or other right to receive future grants of any options or benefits in lieu of any options, even if options have been granted repeatedly in the past;
(c) all determinations with respect to any future purchases, including, but not limited to, when the Option shall be granted, the option price, and when each Option shall be exercisable, will be at the sole discretion of the Corporation;
(d) the Participant’s participation in the Plan is voluntary and of his or her own free will;
(e) the value of the Option is an extraordinary item of compensation, which is outside the scope of the Participant’s employment contract, if any;
(f) the Option is not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculating any termination, severance, resignation, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments;
(g) the Option expires upon termination of employment for any reason except as may otherwise be explicitly provided in this Agreement and the Plan;
(h) in the event of involuntary termination of the Participant’s employment, the Participant’s right to receive or exercise the Option under the Plan, if any, will terminate effective as of the date that the Participant is no longer actively employed, regardless of any reasonable notice period mandated under local law; furthermore, in the event of involuntary termination of employment, the Participant’s right to exercise the Option under the Plan after termination of employment, if any, will terminate effective as of the date the Participant is no longer actively employed, and will not be extended by any reasonable notice period mandated under local law;
(i) the future value of the shares subject to the Option is unknown and cannot be predicted with any certainty;
(j) the grant of the Option has been made to the Participant in the Participant’s status as an employee of the Participant’s employer, and can in no event be understood or interpreted to mean that the Participant has an employment relationship with any party, including th...
Acknowledgment and Waiver. The parties acknowledge that the provisions of this Section are essential, fair, and reasonable, and that the occurrence of any of the events described herein shall constitute good, just, and sufficient cause for the termination or nonrenewal of this Agreement. The parties further acknowledge that any amounts spent in the performance of this Agreement shall be spent with the understanding that this Agreement may not be renewed. Accordingly, each party hereby waives any claim against the other for loss or damage of any kind (including, without limitation, damages or other compensation for unjust enrichment, loss of prospective profits, reimbursement for expenditures or investments made, or commitments entered into or goodwill), due to failure of the parties to renew this Agreement or upon expiration to make a similar agreement.
Acknowledgment and Waiver. Buyer acknowledges that ▇▇▇▇▇ has been provided the opportunity to undertake studies, inspections or investigations of the Property as Buyer deemed or deems necessary to evaluate the presence of lead-based paint and/or lead-based paint hazards on the Property. To the extent that ▇▇▇▇▇ has waived or otherwise declined the opportunity to undertake such studies, inspections and investigations, ▇▇▇▇▇ has knowingly and voluntarily done so and Seller shall have no responsibility or liability with respect to any presence or occurrence of lead-based paint or lead-based paint hazards. Seller does not make any representation or warranty, express or implied, as to the presence of lead-based paint and/or lead-based paint hazards on the Property.
Acknowledgment and Waiver. By [signing the Notice of Grant] [accepting this Award], you agree that:
(a) Your participation in the Plan is voluntary.
(b) Your option is not part of your normal or expected compensation or salary for any purpose, including, but not limited to, calculating any termination, severance, resignation, redundancy, or end of service payments, bonuses, long-service awards, pension or retirement benefits, or similar payments, except as may be specifically provided for by the applicable plan or agreement.
(c) The future value of the Shares subject to your option is unknown and cannot be predicted. It is possible that you will not make any money from this option.
(d) This option does not create an employment relationship between you and any entity.
(e) You have no right to make a claim of entitlement to compensation or damages because of the expiration or termination this option, or any diminution in value of the option, or Shares purchased under the Plan. If it should be determined that you did acquire any such rights, you irrevocably agree to release LSI and its Affiliates, officers and employees from any such claim to the extent permitted by applicable law.
Acknowledgment and Waiver. The parties acknowledge that during the negotiations which resulted in this Agreement, each had the unlimited right and opportunity to make demands and proposals with respect to any subject or matter not removed by law from the area of collective bargaining, and that each party did make proposals to and demands upon the other, and the understandings and agreements arrived at by the parties after the exercise of that right and opportunity are set forth in this Agreement. Each party herein agrees that it has withdrawn all proposals and demands made to or upon the other in connection with said negotiations that are not incorporated in or covered by this Agreement in whole or in part; and that such withdrawal is as much a consideration for the Agreement as is the incorporation herein of matters agreed upon. Therefore, the Employer and the Union for the life of this Agreement, each voluntarily and unqualifiedly waives the right and each agrees that the other shall not be obligated to bargain collectively with respect to any change in any subject or matters referred to or covered in this Agreement, or with respect to any subject or matter not specifically referred to or covered in this Agreement, or with respect to other subjects or matters of any kind or nature whatsoever, even though such subjects or matters may not have been within the knowledge or contemplation of either or both parties at the time they negotiated or signed this Agreement.