Amendment Termination and Duration Clause Example from Business Contracts

Amendment Termination and Duration. (a) Amendment, Suspension, or Termination of Plan. The Board, in its sole discretion, may amend, suspend or terminate the Plan, or any part thereof, at any time and for any reason. The amendment, suspension or termination of the Plan will not, without the consent of the Participant, materially and adversely affect such Participant's rights under any Actual Award theretofore earned and paid. No award may be granted during any period of suspension or after termination of the Plan. (b) Amendment of... Awards. The Board or the Committee, in its sole discretion and without the Participant's consent, may amend or terminate any Target Award granted under the Plan at any time and for any reason. (c) Duration of Plan. The Plan will commence on the Effective Date and will remain in effect thereafter until terminated by the Board. View More