Plan Term Earlier Termination or Suspension of the Plan Clause Example from Business Contracts

Plan Term Earlier Termination or Suspension of the Plan. (a) Plan Term. The Board may suspend or terminate the Plan at any time. Unless terminated sooner by the Board, the Plan will automatically terminate on the day before the 10th anniversary of the earlier of the Effective Date. No Stock Awards may be granted under the Plan while the Plan is suspended or after it is terminated. (b) No Impairment of Rights. Suspension or termination of the Plan will not impair rights and obligations under any Stock Award granted while the Plan is in effect except wi...th the written consent of the affected Participant or as otherwise permitted in the Plan. View More