approval of the Companys stockholders. In addition, any other amendment of the Plan shall be subject to the approval of the Companys stockholders to the extent required under Section 14(e) or by any applicable law or regulation.
(e) Plan Termination. The Plan shall terminate automatically 20 years after its adoption by the Board, unless (i) the Plan is extended by the Board and (ii) the extension is approved within 12 months by a vote of the stockholders of the Company.
SECTION 15. DEFINITIONS.
(a) Administrator means the Board or any Committee administering the Plan in accordance with Section 2.
(b) Board means the Board of Directors of the Company, as constituted from time to time.
(c) Code means the Internal Revenue Code of 1986, as amended.
(d) Committee means a committee of one or more members of the Board, or of other individuals satisfying applicable laws, appointed by the Board to administer the Plan.
(e) Company means Flywire Corporation, a Delaware corporation.
(f) Compensation means, unless otherwise determined by the Administrator with respect to an Offering Period, those components of a Participants cash compensation (prior to reductions pursuant to Code Sections 125, 132(f) or 401(k)) that are regular and recurring, including cash base salary or base hourly pay but excluding any overtime pay or shift differentials, commissions, annual cash incentive compensation, and annual cash bonuses, and further excluding extraordinary cash items (such as one-time bonuses), as well as all non-cash items, moving or relocation allowances, cost-of-living or tax equalization payments, car allowances, tuition reimbursements, imputed income attributable to cars or life insurance, severance pay, fringe benefits, contributions or benefits received under employee benefit plans, payments for or related to equity compensation, and any similar items. The Administrator shall determine whether a particular item is included in Compensation.
(g) Corporate Reorganization means:
| ||(i) || |
The consummation of a merger or consolidation of the Company with or into another entity or any other corporate reorganization; or
| ||(ii) || |
The sale, transfer or other disposition of all or substantially all of the Companys assets or the complete liquidation or dissolution of the Company.
(h) Eligible Employee means a common law employee of a Participating Company, provided, however, that the Administrator may exclude one or more of the following categories of employees (where exclusion of such employees is permitted by applicable law) from any Offering Period: (i) employees who have been employed less than two years (or any