Duration and Amendment Contract Clauses (14)

Grouped Into 1 Collection of Similar Clauses From Business Contracts

This page contains Duration and Amendment clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Duration and Amendment. 15.1 Term of the Plan. The Plan, as set forth herein, shall become effective on the date of its adoption by the Board, subject to the approval of the Company's stockholders. If the stockholders fail to approve the Plan within twelve (12) months after its adoption by the Board, any Options, Stock Grants or Cash Awards granted within such twelve (12) month period shall be null and void, and no additional Options, Stock Grants or Cash Awards shall be granted after the expiration of such twelve (12)... month period. The Plan shall terminate automatically ten (10) years after its adoption by the Board and may be terminated on any earlier date pursuant to Section 15.2 below. 15.2 Right to Amend or Terminate the Plan. The Board may amend or terminate the Plan at any time. An amendment of the Plan shall be subject to the approval of the Company's stockholders only to the extent required by applicable laws, regulations or rules. 12 15.3 Effect of Amendment or Termination. No Shares shall be issued or sold under the Plan after the termination thereof, except upon exercise of an Option or Stock Grant granted prior to such termination. Except as may be permitted under Section 10.2, the termination of the Plan, or any amendment thereof, shall not affect any Shares previously issued or Option or Stock Grant previously granted under the Plan, or the payment of any Cash Awards granted prior to the effective date of the termination. View More
Found in DiamondPeak Holdings Corp. contract
Duration and Amendment. 15.1 (a) Term of the Plan. The Plan, as set forth herein, shall become effective on the date of its adoption by the Board, subject to the approval of the Company's stockholders. If Bank's shareholders. In the stockholders event that the shareholders fail to approve the Plan within twelve (12) months after its adoption by the Board, any Options, Stock Grants or Cash Awards granted within such twelve (12) month period Options already made shall be null and void, and no additional Options, Stock Gr...ants or Cash Awards Options shall be granted made after the expiration of such twelve (12) month period. date. The Plan shall terminate automatically ten (10) years after its adoption by the Board and may be terminated on any earlier date pursuant to Section 15.2 subsection (b) below. 15.2 (b) Right to Amend or Terminate the Plan. The Board may amend or terminate the Plan at any time. An Rights under any Option granted before amendment of the Plan shall not be subject to materially altered, or impaired adversely, by such amendment without the approval of the Company's stockholders only to the extent required by applicable laws, regulations or rules. 12 15.3 Participant's consent. (c) Effect of Amendment or Termination. No Shares Common Stock shall be issued or sold under the Plan after the termination thereof, except upon the exercise of an Option or Stock Grant granted prior to such termination. Except as may be permitted under Section 10.2, the The termination of the Plan, or any amendment thereof, shall not affect any Shares Common Stock previously issued or Option or Stock Grant previously granted under the Plan, or the payment of any Cash Awards granted prior to the effective date of the termination. Plan. View More
Found in OP Bancorp contract
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