Amendment Suspension or Termination of the Plan Clause Example with 4 Variations from Business Contracts

Amendment Suspension or Termination of the Plan. (a) The Board may at any time amend, suspend or terminate the Plan in any respect, except that it may not, without the approval of the stockholders obtained within twelve (12) months before or after the Board adopts a resolution authorizing any of the following actions, do any of the following: (i) increase the total number of shares that may be issued under the Plan (except by adjustment pursuant to Section 13); (ii) modify the provisions of Section 6 regarding eligibility for grants of Incenti...ve Stock Options; (iii) modify the provisions of Section 7(a) regarding the exercise price at which shares may be offered pursuant to Options (except by adjustment pursuant to Section 13); (iv) extend the expiration date of the Plan; and (v) except as provided in other than pursuant to Section 13 (including, or in connection with a Corporate Transaction, the Administrator shall not without limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, the approval of the Company's stockholders (a) lower the exercise price of an Option or exchange of shares), SAR, (b) cancel an Option or SAR when the Company may not amend an Award granted under the Plan to reduce its exercise price per share, cancel and regrant new Awards with lower prices per share than Share exceeds the original prices per share Fair Market Value of the cancelled Awards, or cancel any Awards a Share in exchange for cash or another Award, or (c) take any other action with respect to an Option or SAR that would be treated as a repricing under the grant of replacement Awards with an exercise price that is less than the exercise price rules and regulations of the original Awards, essentially having principal U.S. national securities exchange on which the effect of a repricing, without approval by the Company's stockholders. Shares are listed. (b) No Award may be granted during any suspension of the Plan or after termination of the Plan. (c) No suspension or termination of the Plan shall materially adversely affect any rights under Awards already granted to a Grantee without his or her consent. View More

Amendment Suspension or Termination of the Plan. (a) The Board may at any time amend, suspend or terminate the Plan, or amend the Plan in any respect, except that it may not, without the approval of the stockholders obtained within twelve (12) 12 months before or after the Board adopts a resolution authorizing any of the following actions, do any of the following: (i) increase the total number of shares that may be issued under the Plan (except by adjustment pursuant to Section 13); (ii) modify the provisions of Section 6 regarding eligibility... for grants of Incentive Stock Options; (iii) modify the provisions of Section 7(a) regarding the exercise price at which shares may be offered pursuant to Options (except by adjustment pursuant to Section 13); or (iv) extend the expiration date of the Plan; and (v) except Plan. (b) Except as provided in Section 13 (including, without limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or exchange of shares), the Company may not amend not, without approval by the Company's stockholders, (i) lower the exercise price of an Award granted under Option or Stock Appreciation Right, (ii) cancel an Option or Stock Appreciation Right when the Plan to reduce its exercise price per share, cancel and regrant new Awards with lower prices per share than Share exceeds the original prices per share Fair Market Value of the cancelled Awards, or cancel any Awards a Share in exchange for cash or another Award, or (iii) take any other action with respect to an Option or Stock Appreciation Right that would be treated as a repricing under the grant of replacement Awards with an exercise price that is less than the exercise price rules and regulations of the original Awards, essentially having principal U.S. national securities exchange on which the effect of a repricing, without approval by the Company's stockholders. (b) Shares are listed. 21 (c) No Award may be granted during any suspension of the Plan or after termination of the Plan. (c) No suspension or termination of the Plan shall will adversely affect any rights under Awards already granted to a Grantee Participant without his or her consent. View More

Amendment Suspension or Termination of the Plan. (a) The Board may at any time amend, suspend or terminate the Plan in any respect, except that it may not, without the approval of the stockholders shareholders obtained within twelve (12) months before or after the Board adopts a resolution authorizing any of the following actions, do any of the following: (i) increase the total number of shares that may be issued under the Plan (except by adjustment pursuant to Section 13); (ii) modify the provisions of Section 6 regarding eligibility for gran...ts of Incentive Stock Options; (iii) modify the provisions of Section 7(a) regarding the exercise price at which shares may be offered pursuant to Options (except by adjustment pursuant to Section 13); (iv) extend the expiration date of the Plan; and (v) except as provided in Section 13 (including, without limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or exchange of shares), the Company may not amend an Award granted under the Plan to reduce its exercise price per share, cancel and regrant new Awards with lower prices per share than the original prices per share of the cancelled Awards, or cancel any Awards in exchange for cash or the grant of replacement Awards with an exercise price that is less than the exercise price of the original Awards, essentially having the effect of a repricing, without approval by the Company's stockholders. shareholders. (b) No Award may be granted during any suspension of the Plan or after termination of the Plan. (c) No suspension or termination of the Plan shall adversely affect any rights under Awards already granted to a Grantee without his or her consent. 20 17. Reservation of Shares. (a) The Company, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy the requirements of the Plan. (b) The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company's counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. View More

Amendment Suspension or Termination of the Plan. (a) The Board may at any time amend, suspend or terminate the Plan, or amend the Plan in any respect, except that it may not, without the approval of the stockholders obtained within twelve (12) 12 months before or after the Board adopts a resolution authorizing any of the following actions, do any of the following: (i) increase the total number of shares that may be issued under the Plan (except by adjustment pursuant to Section 13); (ii) modify the provisions of Section 6 regarding eligibility... for grants of Incentive Stock Options; (iii) modify the provisions of Section 7(a) regarding the exercise price at which shares may be offered pursuant to Options (except by adjustment pursuant to Section 13); (iv) extend the expiration date of the Plan; and (v) except as provided in Section 13 (including, without limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or exchange of shares), the Company may not amend an Award granted under the Plan to reduce its exercise price per share, cancel and regrant new Awards with lower prices per share than the original prices per share of the cancelled Awards, or cancel any Awards in exchange for cash or the grant of replacement Awards with an exercise price that is less than the exercise price of the original Awards, essentially having the effect of a repricing, without approval by the Company's stockholders. (b) No Award may be granted during any suspension of the Plan or after termination of the Plan. (c) No suspension or termination of the Plan shall adversely affect any rights under Awards already granted to a Grantee without his or her consent. 15 ​ 17. Reservation of Shares. (a) The Company, during the term of the Plan, will at all times reserve and keep available such number of Shares as shall be sufficient to satisfy the requirements of the Plan. (b) The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority is deemed by the Company's counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. View More