Administration, Interpretation, Etc Clause Samples
The 'Administration, Interpretation, Etc' clause defines how the contract will be managed, interpreted, and enforced. It typically outlines which party is responsible for overseeing the contract’s execution, clarifies how ambiguities or disputes over meaning will be resolved, and may specify the governing law or rules of construction. By establishing clear administrative and interpretive guidelines, this clause helps prevent misunderstandings and disputes, ensuring the contract is applied consistently and as intended by the parties.
Administration, Interpretation, Etc. Any action taken or decision made by the Company, the Board or the Committee arising out of or in connection with the construction, administration, interpretation or effect of any provision of the Plan or this Award Agreement shall lie within its sole and absolute discretion, as the case may be, and shall be final, conclusive and binding on the Participant and all persons claiming under or through the Participant. By receipt of the RSUs or other benefit under the Plan, the Participant and each person claiming under or through the Participant shall be conclusively deemed to have indicated acceptance and ratification of, and consent to, any action taken under the Plan or this Award Agreement by the Company, the Board or the Committee.