Administration Contract Clauses (4,938)

Administration. The Plan shall be administered by the Committee. The Committee shall have full power and authority to do all things necessary or desirable in connection with the administration of this Plan, including, without limitation, the following: a. select those Eligible Persons to whom Options may from time to time be granted hereunder; b. determine the option exercise price of each Option to be granted to a Participant hereunder; c. determine the number of Shares of the Company to be covered by each Opt...ion granted hereunder; d. determine the terms and conditions, not inconsistent with the provisions of the Plan, of any Option granted hereunder; e. interpret and administer the Plan and any instrument or agreement entered into under the Plan; f. establish such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration of the Plan; and g. make any other determination and take any other action that the Committee deems necessary or desirable for administration of the Plan. All decisions and determinations of the Committee shall be by majority vote of its members and shall be set forth in writing. Each such writing shall hereinafter be referred to as a "Committee Action". All such Committee Actions shall promptly be submitted to the Secretary of the Corporation who, upon receipt, shall place a copy of same in a record book maintained by the Secretary for that purpose and which shall be available for examination by the Directors at any time and from time to time. All Committee Actions that are within the scope of the Committee's authority hereunder shall be deemed final, conclusive and binding upon all persons including the Company, any Participant, and any Eligible Person of the Company or of any Affiliate. A majority of the members of the Committee may determine its actions and fix the time and place of its meetings. View More