Alaska Airlines and Horizon Air 2009 Annual Report Download - page 92

right to continue in the employ or other service of the Company or any Subsidiary,
constitute any contract or agreement of employment or other service or effect an
employee’s status as an employee at will, nor shall interfere in any way with the right of
the Company or any Subsidiary to change such person’s compensation or other benefits
or to terminate his or her employment or other service, with or without cause. Nothing
contained in this Section 23(a), however, is intended to adversely affect any express
independent right of any such person under a separate employment or service contract
other than a Subscription Agreement.
No Rights to Assets of the Company.No Participant or other person will have any right,
title or interest in any fund or in any specific asset (including shares of Common Stock) of
the Company or any Subsidiary by reason of any Option hereunder. Neither the provisions
of this Plan (or of any Subscription Agreement or other document related to this Plan), nor
the creation or adoption of this Plan, nor any action taken pursuant to the provisions of
this Plan will create, or be construed to create, a trust of any kind or a fiduciary
relationship between the Company or any Subsidiary and any Participant, Beneficiary or
other person. To the extent that a Participant, Beneficiary or other person acquires a right
to receive payment pursuant to this Plan, such right will be no greater than the right of
any unsecured general creditor of the Company.
No Stockholder Rights.A Participant will not be entitled to any privilege of stock
ownership as to any shares of Common Stock not actually delivered to and held of record
by the Participant. No adjustment will be made for dividends or other rights as a
stockholder for which a record date is prior to such date of delivery.
MISCELLANEOUS
Governing Law.This Plan, the Options, Subscription Agreements and other documents
related to this Plan shall be governed by, and construed in accordance with, the laws of
the State of Delaware.
Severability.If any provision shall be held by a court of competent jurisdiction to be
invalid and unenforceable, the remaining provisions of this Plan shall continue in effect.
Captions and Headings.Captions and headings are given to the sections of this Plan
solely as a convenience to facilitate reference. Such captions and headings shall not be
deemed in any way material or relevant to the construction of interpretation of this Plan or
any provision hereof.
No Effect on Other Plans or Corporate Authority.The adoption of this Plan shall not
affect any other Company or Subsidiary compensation or incentive plans in effect. Nothing
in this Plan will limit or be deemed to limit the authority of the Board or Committee (1) to
establish any other forms of incentives or compensation for employees of the Company or
any Subsidiary (with or without reference to the Common Stock), or (2) to grant or assume
options (outside the scope of and in addition to those contemplated by this Plan) in
connection with any proper corporate purpose; to the extent consistent with any other
plan or authority. Benefits received by a Participant under an Option granted pursuant to
this Plan shall not be deemed a part of the Participant’s compensation for purposes of
the determination of benefits under any other employee welfare or benefit plans or
arrangements, if any, provided by the Company or any Subsidiary, except where the
Committee or the Board (or the Board of Directors of the Subsidiary that sponsors such
plan or arrangement, as applicable) expressly otherwise provides or authorizes in writing.
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