Nike 2010 Annual Report Download - page 129
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(a) the award is granted voluntarily by the Company, is discretionary in nature and may be modified, suspended or terminated by the Company at
any time, as provided in this Agreement;
(b) the award is voluntary and occasional and does not create any contractual or other right to receive future awards of cash, or benefits in lieu of
cash awards even if cash awards have been awarded repeatedly in the past;
(c) all decisions with respect to future awards, if any, will be at the sole discretion of the Company;
(d) Recipient is voluntarily accepting the grant of the award;
(e) the award is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or the
Employer, and which is outside the scope of Recipient’s employment contract, if any;
(f) the award is 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, long−service awards, pension or retirement benefits or
welfare benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the
Company or any subsidiary of the Company;
(g) the award will not be interpreted to form an employment contract with the Company or any subsidiary of the Company;
(h) no claim or entitlement to compensation or damages shall arise from forfeiture of the award, termination of Recipient’s employment by the
Company or the Employer (for any reason whatsoever and regardless of whether in breach of local labor laws) or recoupment of all or any
portion of the award resulting from the Clawback Policy described in Section 7 of this Agreement, and in consideration of the award, to which
Recipient is not otherwise entitled, Recipient irrevocably agrees never to institute any claim against the Company or the Employer, waives his
or her ability, if any, to bring any such claim, and releases the Company and the Employer from any such claim; if, notwithstanding the
foregoing, any such claim is allowed by a court of competent jurisdiction, then, by accepting the award, Recipient shall be deemed irrevocably
to have agreed not to pursue such claim, and Recipient agrees to execute any and all documents necessary to request dismissal or withdrawal of
such claim;
(i) notwithstanding any terms or conditions of this Agreement to the contrary, for purposes of Section 3 of this Agreement, Recipient’s
employment will be considered terminated as of the date that Recipient is no longer actively employed and will not be extended by any notice
period mandated under local law (e.g., active employment would not include a period of “garden leave” or similar period pursuant to local law);
the Company shall have the exclusive discretion to determine when Recipient is no longer actively employed for purposes of this Agreement;
APP−2