Common use of Amendment and Termination of the Plan Clause in Contracts

Amendment and Termination of the Plan. The Plan may be amended or terminated by the Board of Directors of the Company without stockholder approval unless the Board seeks to increase the number of shares of common stock subject to the Plan or stockholder approval is required by law or regulation or under the rules of any stock exchange or automated quotation system on which the common stock is then listed or quoted. Stockholder approval will not be deemed to be required under laws or regulations that condition favorable tax treatment on such approval, although the Board may, in its discretion, seek stockholder approval in any circumstances in which it deems such approval advisable.

Appears in 7 contracts

Samples: Dividend Coverage Performance Shares Award (Washington Gas Light Co), Performance Unit Award Agreement (Washington Gas Light Co), Performance Share Award Agreement (Washington Gas Light Co)

AutoNDA by SimpleDocs

Amendment and Termination of the Plan. The Plan may be amended or terminated by the Board of Directors of the Company without stockholder approval unless the Board seeks to increase the number of shares of common stock subject to the Plan or stockholder approval approved is required by law or regulation or under the rules of any stock exchange or automated quotation system on which the common stock is then listed or quoted. Stockholder approval will not be deemed to be required under laws or regulations that condition favorable tax treatment on such approval, although the Board may, in its discretion, seek stockholder approval in any circumstances in which it deems such approval advisable.

Appears in 4 contracts

Samples: Performance Share Grant (Washington Gas Light Co), Performance Units Grant (Washington Gas Light Co), Performance Units Award Agreement (Washington Gas Light Co)

Amendment and Termination of the Plan. The 1999 Plan may be amended amended, altered, suspended, discontinued or terminated by the Board of Directors of the Company without stockholder approval unless the Board seeks to increase the number of shares of common stock Common Stock subject to the Plan or stockholder approval is required by law or regulation or under the rules of any stock exchange or automated quotation system on which the common stock Common Stock is then listed or quoted. Stockholder approval will not be deemed to be required under laws or regulations that condition conditions favorable tax treatment on such approval, although the Board may, in its discretion, seek stockholder approval in any circumstances in which it deems such approval advisable.

Appears in 1 contract

Samples: Nonqualified Stock Option Award Agreement (Washington Gas Light Co)

AutoNDA by SimpleDocs

Amendment and Termination of the Plan. The Plan may be amended or terminated by the Board of Directors of the Company without stockholder approval unless the Board seeks to increase the number of shares of common stock Common Stock subject to the Plan or stockholder approval approved is required by law or regulation or under the rules of any stock exchange or automated quotation system on which the common stock Common Stock is then listed or quoted. Stockholder approval will not be deemed to be required under laws or regulations that condition favorable tax treatment on such approval, although the Board may, in its discretion, seek stockholder approval in any circumstances in which it deems such approval advisable.

Appears in 1 contract

Samples: Performance Share Award Agreement (Washington Gas Light Co)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!