ACKNOWLEDGMENT OF NATURE OF PLAN AND RSUs Clause Samples
The "Acknowledgment of Nature of Plan and RSUs" clause requires participants to formally recognize their understanding of the terms, conditions, and characteristics of the equity compensation plan and the restricted stock units (RSUs) granted under it. Typically, this clause ensures that recipients are aware that RSUs are not equivalent to cash compensation or guaranteed benefits, and that their value may fluctuate based on company performance or other factors. By including this acknowledgment, the clause helps prevent misunderstandings about the rights and obligations associated with RSUs, ensuring that participants are fully informed and reducing the risk of future disputes.
ACKNOWLEDGMENT OF NATURE OF PLAN AND RSUs. In accepting the RSUs, you acknowledge, understand and agree that:
(a) 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, to the extent permitted by the Plan;
(b) The Award of RSUs is exceptional, voluntary and occasional and does not create any contractual or other right to receive future awards of RSUs, or benefits in lieu of RSUs even if RSUs have been awarded in the past;
(c) All decisions with respect to future awards of RSUs or other awards, if any, will be at the sole discretion of the Company;
(d) Your participation in the Plan is voluntary;
(e) The RSUs and the shares of Common Stock subject to the RSUs, and the income from and value of same, are not intended to replace any pension rights or compensation;
(f) Unless otherwise agreed with the Company, the RSUs and the shares of Common Stock subject to the RSUs, and the income from and value of same, are not granted as consideration for, or in connection with, the service you may provide as a director of a subsidiary or an affiliate of the Company;
(g) The future value of the underlying shares of Common Stock is unknown, indeterminable and cannot be predicted with certainty;
(h) No claim or entitlement to compensation or damages arises from the forfeiture of RSUs resulting from termination of your employment with the Company, or any of its subsidiaries or affiliates, including the Employer (whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any);
(i) Unless otherwise provided in the Plan or by the Company in its discretion, the RSUs and the benefits evidenced by this Agreement do not create any entitlement to have the RSUs or any such benefits transferred to, or assumed by, another company nor to be exchanged, cashed out or substituted for, in connection with any corporate transaction affecting the shares of the Company; and
(j) Neither the Company, the Employer nor any subsidiary or affiliate of the Company shall be liable for any foreign exchange rate fluctuation between your local currency and the United States Dollar that may affect the value of the RSUs or of any amounts due to you pursuant to the settlement of the RSUs or the subsequent sale of any shares of Common Stock acquired upon settlement.
ACKNOWLEDGMENT OF NATURE OF PLAN AND RSUs. In accepting this Agreement, Participant acknowledges that in the event of termination of Participant’s employment (whether or not in breach of local labor laws), Participant’s rights to unvested RSUs under the Plan, if any, will terminate effective as of the date that Participant is no longer actively employed and will not be extended by any notice period mandated under applicable local laws (e.g., active employment would not include a period of “garden leave” or notice period). The Administrator shall have the exclusive discretion to determine when Participant is no longer actively employed for purposes of Participant’s RSUs.
ACKNOWLEDGMENT OF NATURE OF PLAN AND RSUs. In accepting this Agreement, the Participant acknowledges that, in the event of termination of the Participant’s employment, the Participant’s rights to vest the RSUs under the Plan, if any, will terminate effective as of the date of the termination notice, and will not be extended by any notice period or agreed “garden leave”; the Administrator shall have the exclusive discretion to determine when the Participant is no longer actively employed for purposes of Participant’s RSUs.
ACKNOWLEDGMENT OF NATURE OF PLAN AND RSUs. In accepting the Award, you acknowledge, understand and agree that:
a. 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, to the extent permitted by the Plan;
b. the RSU Award is voluntary and occasional and does not create any contractual or other right to receive future RSU Awards, or benefits in lieu of RSUs even if RSUs have been awarded in the past;
c. all decisions with respect to the RSU Award and future Awards, if any, will be at the sole discretion of the Company and the RSUs are not an employment condition for any purpose including, but not limited to, for purposes of any legislation adopted to implement EU Directive 2000/78/EC of November 27, 2000;
d. the RSU Award and your participation in the Plan or any policies adopted pursuant to the Plan shall not create a right to employment or be interpreted as forming an employment or service contract with the Company, with your employer or any Subsidiary and shall not interfere with the ability of the Company, your employer or any Subsidiary, as applicable, to terminate your employment or service relationship (if any);
e. your participation in the Plan is voluntary;
f. the RSU Award and the shares of Stock subject to the RSU Award are not intended to replace any pension rights or compensation;
g. the RSU Award and the shares of Stock subject to the RSU Award and the income and the value of the same are not part of normal or expected compensation for any purpose, including, without limitation, calculating any severance, resignation, termination, dismissal, redundancy, end-of-service payments, bonuses, long-service awards, pension or retirement or welfare benefits or similar payments;
h. the future value of the underlying shares of Stock is unknown, indeterminable and cannot be predicted with certainty;
i. if you receive shares of Stock, the value of such shares acquired on vesting of RSUs may increase or decrease in value;
j. no claim or entitlement to compensation or damages shall arise from forfeiture of the RSU Award resulting from the termination of your employment or other service relationship (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws in the jurisdiction where you are employed or the terms of your employment agreement, if any), and in consideration of the grant of the RSU Award to which you are otherwise not entitled, you irrevoc...
ACKNOWLEDGMENT OF NATURE OF PLAN AND RSUs. In accepting this Agreement, the Participant acknowledges that, except as specifically required in order to comply with the minimum statutory requirements of applicable employment standards legislation:
(a) for employment law purposes, particularly for purposes of calculating contributions, payroll taxes, accruals, legal and extra-legal benefits, premiums and aids, under any other plan or program that is maintained or funded by the Company or any Company Group Member, any and all compensations or benefits, in money or in kind, that the Participant directly or indirectly earns or is deemed to be earned under this Plan, including the RSUs and Shares issued upon settlement thereof are an extraordinary item that do not constitute salary of any kind for services of any kind rendered to the Company or to the Participant’s employer; and
(b) neither the grant of RSUs nor any provision of this Agreement, the Plan or the policies adopted pursuant to the Plan confer upon the Participant any right with respect to employment or continuation of current employment and shall not be interpreted to form an employment contract or relationship with the Company or any Company Group Member.
ACKNOWLEDGMENT OF NATURE OF PLAN AND RSUs. In accepting this Agreement, the Participant
ACKNOWLEDGMENT OF NATURE OF PLAN AND RSUs. In accepting the RSUs, you acknowledge, understand and agree that: (a) 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, to the extent permitted by the Plan;
ACKNOWLEDGMENT OF NATURE OF PLAN AND RSUs. In accepting this Agreement, the Participant acknowledges that, except as specifically required in order to comply with the minimum statutory requirements of applicable employment standards legislation:
ACKNOWLEDGMENT OF NATURE OF PLAN AND RSUs. In accepting this Agreement, the Participant acknowledges that, in the event of termination of the Participant’s employment, or the cessation of the Participant’s appointment to the Board of Directors, the Participant’s rights to vest the RSUs under the Plan, if any, will terminate effective as of the date of the termination notice for employees or the date of cessation of appointment for directors. Vesting rights will not be extended by any notice period, delay in public registration or agreed “garden leave”; the Administrator shall have the exclusive discretion to determine when the Participant is no longer actively employed or appointed for purposes of Participant’s RSUs.
ACKNOWLEDGMENT OF NATURE OF PLAN AND RSUs. In accepting this Agreement, the Participant acknowledges that, except as specifically required in order to comply with the minimum statutory requirements of applicable employment standards legislation: (a) for employment law purposes, RSUs and Shares issued upon vesting thereof are an extraordinary item that do not constitute wages of any kind for services of any kind rendered to the Company or to the Participant’s employer, and the grant of RSUs is outside the scope of the Participant’s employment contract, if any; (b) neither the grant of RSUs nor any provision of this Agreement, the Plan or the policies adopted pursuant to the Plan confer upon the Participant any right with respect to employment or continuation of current employment and shall not be interpreted to form an employment contract or relationship with the Company or any Participating Company; (c) in consideration of the grant of RSUs hereunder, no claim or entitlement to compensation or damages arises from termination of RSUs, and no claim or entitlement to compensation or damages shall arise from forfeiture of the RSUs resulting from termination of the Participant’s employment by the Company or any Participating Company (for any reason whatsoever) and the Participant irrevocably releases the Company and the Participant’s employer from any such claim that may arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen,