Amendment and Termination of the Plan Clause Example with 6 Variations from Business Contracts
This page contains Amendment and Termination of the Plan clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Amendment and Termination of the Plan. The Board may amend or terminate the Plan at any time; provided, however, that the Board shall not amend the Plan without shareholder approval if such approval is required by Sections 162(m), 421 and 422 of the Code. (b) Termination of Plan. The Plan shall terminate on the day immediately preceding the tenth anniversary of its effective date, unless the Plan is terminated earlier by the Board or is extended by the Board with the approval of the shareholders. (c) Termination and Amendment of Outs...tanding Grants. A termination or amendment of the Plan that occurs after a Grant is made shall not materially impair the rights of a Grantee unless the Grantee consents. The termination of the Plan shall not impair the power and authority of the Committee with respect to an outstanding Grant. Whether or not the Plan has terminated, an outstanding Grant may be amended by agreement of the Company and the Grantee consistent with the Plan. (d) Governing Document. The Plan shall be the controlling document. No other statements, representations, explanatory materials or examples, oral or written, may amend the Plan in any manner. The Plan shall be binding upon and enforceable against the Company and its successors and assigns.View More
Variations of a "Amendment and Termination of the Plan" Clause from Business Contracts
Amendment and Termination of the Plan. (a) Amendment. The Board may amend or terminate the Plan at any time; provided, however, that the Board shall not amend the Plan without shareholder stockholder approval if (i) such approval is required in order for Incentive Stock Options granted or to be granted under the Plan to meet the requirements of section 422 of the Code, or (ii) such approval is required by Sections 162(m), 421 and 422 of the Code. applicable stock exchange requirements. (b) Termination of Plan. The Plan shall terminat...e on the day immediately preceding the tenth anniversary of its effective date, unless the Plan is terminated earlier by the Board or is extended by the Board with the approval of the shareholders. stockholders. (c) Termination and Amendment of Outstanding Grants. Options. A termination or amendment of the Plan that occurs after a Grant an Award is made shall not materially impair the rights of a Grantee Participant unless the Grantee consents. Participant consents or unless the Board action is required pursuant to Applicable Laws. The termination of the Plan shall not impair the power and authority of the Committee Board with respect to an outstanding Grant. Whether or not the Plan has terminated, an outstanding Grant may be amended by agreement of the Company and the Grantee consistent with the Plan. Award. (d) Governing Document. The Plan shall be the controlling document. No other statements, representations, explanatory materials or examples, oral or written, may amend the Plan in any manner. The Plan shall be binding upon and enforceable against the Company and its successors and assigns. 9 12. Funding of the Plan. This Plan shall be unfunded. The Company shall not be required to establish any special or separate fund or to make any other segregation of assets to assure the payment of any Awards under this Plan. View More
Amendment and Termination of the Plan. The Committee or the Board may amend or terminate the Plan at any time; provided, however, time or from time to time, without obtaining the approval of the Company's shareholders, except that the Board shall Plan may not amend be amended without the approval of the Company's shareholders (i) to increase the aggregate number of shares issuable under the Plan without (excepting proportionate adjustments made under Section 4(d) to give effect to stock splits, etc.) or (ii) make any material amendme...nt or other amendment if shareholder approval if such approval is required by Sections 162(m), 421 and 422 the rules of the Code. Securities and Exchange Commission or any stock exchange on which Shares are listed. (b) Termination of Plan. The Plan shall terminate on the day immediately preceding the tenth anniversary of its effective date, the New Effective Date, unless the Plan is terminated earlier by the Board Committee or is extended by the Board Committee with the approval of the shareholders. (c) Termination and Amendment of Outstanding Grants. A termination or amendment of the Plan that occurs after a Grant is made shall not materially impair the rights of a Grantee unless the Grantee consents. consents or unless the Committee acts under Section 22(b). The termination of the Plan shall not impair the power and authority of the Committee with respect to an outstanding Grant. Whether or not the Plan has terminated, an outstanding Grant may be terminated or amended under Section 22(b) or may be amended by agreement of the Company and the Grantee consistent with the Plan. (d) Governing Document. The Plan shall be the controlling document. No Except as specifically provided herein or in the Grant Instrument, no other statements, representations, explanatory materials or examples, oral or written, may amend the Plan in any manner. The Plan shall be binding upon and enforceable against the Company and its successors and assigns. View More
Amendment and Termination of the Plan. The Board may amend or terminate the Plan at any time; provided, however, that the Board shall not amend the Plan without shareholder approval if such approval is required by Sections 162(m), 421 and 422 of in order to comply with the Code. Code or other applicable laws or to comply with applicable stock exchange requirements. (b) Termination of Plan. The Plan shall terminate on the day immediately preceding the tenth anniversary of its effective date, unless the Plan is terminated earlier by th...e Board or is extended by the Board with the approval of the shareholders. Board. -10- (c) Termination and Amendment of Outstanding Grants. Awards. A termination or amendment of the Plan that occurs after a Grant an Award is made shall not materially impair the rights of a Grantee unless the Grantee consents. consents or unless the Board acts under Section 20(b). The termination of the Plan shall not impair the power and authority of the Committee with respect to an outstanding Grant. Award. Whether or not the Plan has terminated, an outstanding Grant Award may be terminated or amended under Section 20(b) or may be amended by agreement of the Company and the Grantee consistent with the Plan. Notwithstanding the foregoing, any such amendment or termination shall be subject to the approval of the Company's stockholders if such stockholder approval is required by any federal or state law or regulation or the rules of any stock exchange or automated quotation system on which the Company Stock may then be listed or quoted, in each case. (d) Governing Document. The Plan shall be the controlling document. No other statements, representations, explanatory materials or examples, oral or written, may amend the Plan in any manner. The Plan shall be binding upon and enforceable against the Company and its successors and assigns. View More
Amendment and Termination of the Plan. The Board may amend or terminate the Plan at any time; provided, however, that the Board shall not amend the Plan without shareholder approval if such approval is required by Sections 162(m), 421 and 422 of in order to comply with the Code. Code or other applicable laws or, after an Initial Public Offering, to comply with applicable stock exchange requirements. -12- (b) Termination of Plan. The Plan shall terminate on the day immediately preceding the tenth anniversary of its effective date, unl...ess the Plan is terminated earlier by the Board or is extended by the Board with the approval of the shareholders. (c) Termination and Amendment of Outstanding Grants. Awards. A termination or amendment of the Plan that occurs after a Grant an Award is made shall not materially impair the rights of a Grantee unless the Grantee consents. consents or unless the Board acts under Section 20(b). The termination of the Plan shall not impair the power and authority of the Committee Board with respect to an outstanding Grant. Award. Whether or not the Plan has terminated, an outstanding Grant Award may be terminated or amended under Section 20(b) or may be amended by agreement of the Company and the Grantee consistent with the Plan. (d) Governing Document. The Plan shall be the controlling document. No other statements, representations, explanatory materials or examples, oral or written, may amend the Plan in any manner. The Plan shall be binding upon and enforceable against the Company and its successors and assigns. View More
Amendment and Termination of the Plan. The Board may amend or terminate the Plan at any time; provided, however, that the Board shall not amend the Plan without shareholder approval if such approval is required by Sections 162(m), 421 and 422 of in order to comply with the Code. Code or other applicable laws or, after an Initial Public Offering, to comply with applicable stock exchange requirements. (b) Termination of Plan. The Plan shall terminate on the day immediately preceding the tenth anniversary of its effective date, unless t...he Plan is terminated earlier by the Board or is extended by the Board with the approval of the shareholders. (c) Termination and Amendment of Outstanding Grants. Awards. A termination or amendment of the Plan that occurs after a Grant an Award is made shall not materially impair the rights of a Grantee unless the Grantee consents. consents or unless the Board acts under Section 20(b). The termination of the Plan shall not impair the power and authority of the Committee Board with respect to an outstanding Grant. Award. Whether or not the Plan has terminated, an outstanding Grant Award may be terminated or amended under Section 20(b) or may be amended by agreement of the Company and the Grantee consistent with the Plan. (d) Governing Document. The Plan shall be the controlling document. No other statements, representations, explanatory materials or examples, oral or written, may amend the Plan in any manner. The Plan shall be binding upon and enforceable against the Company and its successors and assigns. View More
Amendment and Termination of the Plan. The Board may amend or terminate the Plan at any time; provided, however, that the Board shall not amend the Plan without shareholder approval if such approval is required by Sections 162(m), 421 and 422 of in order to comply with the Code. Code or other applicable laws or, after an Initial Public Offering, to comply with applicable stock exchange requirements. (b) Termination of Plan. The Plan shall terminate on the day immediately preceding the tenth anniversary of its effective date, unless t...he Plan is terminated earlier by the Board or is extended by the Board with the approval of the shareholders. (c) Termination and Amendment of Outstanding Grants. Awards. A termination or amendment of the Plan that occurs after a Grant an Award is made shall not materially impair the rights of a Grantee unless the Grantee consents. consents or unless the Board acts under Section 18(b). The termination of the Plan shall not impair the power and authority of the Committee Board with respect to an outstanding Grant. Award. Whether or not the Plan has terminated, an outstanding Grant Award may be terminated or amended under Section 18(b) or may be amended by agreement of the Company and the Grantee consistent with the Plan. (d) Governing Document. The Plan shall be the controlling document. No other statements, representations, explanatory materials or examples, oral or written, may amend the Plan in any manner. The Plan shall be binding upon and enforceable against the Company and its successors and assigns. View More
