No Employment Contract. The Plan is not and is not intended to be an employment contract with respect to any of the Executives, and the Company's rights to continue or to terminate the employment relationship of any Executive will not be affected by the Plan.
Authority to Contract. Purchaser has the full right, power and authority to execute, deliver and perform the terms of this Agreement and all documents and agreements necessary to give effect to the provisions of this Agreement. The execution, delivery, and consummation of this Agreement by Purchaser was duly approved by its Board of Directors according to applicable law and its Articles of Incorporation and Bylaws. No approval or consent of any person, firm, or other entity is required to be obtained by Purchaser for the execution, delivery and consummation of this Agreement by Purchaser. Upon the execution and delivery of this Agreement by Purchaser, no further action will be necessary to make this Agreement valid and binding upon Purchaser according to its terms.
Agreement Does Not Grant Retention Rights. Neither the granting of the Option, nor the exercise thereof, shall be construed as conferring upon the Participant any right to continue to be employed by or otherwise provide services to the Company or NTC for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Company (or any subsidiary of the Company) or of the Participant, which rights are hereby expressly reserved by each, to terminate the Participants employment or service to the Company or any subsidiary of the Company at any time and for any reason, with or without Cause;
If applicable, amounts not vested at the time payments due under this Section cease will be:
Not Material. If the damage to the Properties does not result in a Material Loss, then neither nor shall have the right to terminate this Agreement, and shall, at its option, either # fully repair the damage before the Closing in a manner reasonably satisfactory to , or # credit at Closing for the reasonable cost to complete the repair (in which case shall retain all insurance proceeds and shall assume full responsibility for all needed repairs).
Not U.S. person. The Option Holder is not a “U.S. person” (as such term is defined in Regulation S of the Securities Act) and is not acquiring the Option and/or purchasing the Purchase Shares for the account or benefit of any “U.S. person”.
Agreement and Grant Not Effective Unless Accepted. By selecting the “Accept” button below you agree # to enter into this Agreement electronically, and # to the terms and conditions of the Agreement. Until you select the “Accept” button below, this Award shall not be effective. If you do not select the “Accept” button within 14 days from the date the Agreement is made available to you electronically this Award shall be null and void.
Remedies Not Limited. Nothing contained in this [Article XIV] shall limit the authority of the Corporation to take such other action as it deems necessary or advisable # to protect the Corporation and the interests of its stockholders by preservation of the Corporations status as a REIT, and # to ensure compliance with the Stock Ownership Limit or the Constructive Ownership Limit, as applicable.
PBRSUs Not Transferable. The PBRSUs granted herein are not transferable except in accordance with the provisions of the Plan.
Not Retirement Eligible. Unless otherwise provided by the Committee, if a Participant Terminates Employment while not Retirement eligible, a Participant's Options may be exercised, to the extent then exercisable:
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