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. No Incentive Stock Options may be granted after the tenth anniversary of the earlier of (i) the Adoption Date or (ii) the date the Plan is approved by the stockholders of the Company. No 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 Pla...n is in effect except with the written consent of the affected Participant or as otherwise permitted in the Plan. View More