Effective Date of Plan Clause Example from Business Contracts

This example Effective Date of Plan clause appears in 2 contracts from 1 company

Effective Date of Plan. The Plan shall become effective as determined by the Board, but no Stock Award shall be exercised (or, in the case of a Restricted Stock Award, shall be granted) unless and until the Plan has been approved by the stockholders of the Company, which approval shall be within twelve (12) months before or after the date the Plan is adopted by the Board.