Common use of Amendment, Modification, Suspension, and Termination Clause in Contracts

Amendment, Modification, Suspension, and Termination. Subject to Section 15.2, the Committee may, at any time and from time to time, alter, amend, modify, suspend, or terminate the Plan and any Award Agreement in whole or in part; provided, however, that, without the prior approval of the Company’s stockholders and except as provided in Section 4.5, the Committee shall not directly or indirectly lower the Option Price of a previously granted Option, and no amendment of the Plan shall be made without stockholder approval if stockholder approval is required by applicable law or stock exchange rules.

Appears in 2 contracts

Samples: 2006 Omnibus Incentive Plan (Quanex Corp), 2006 Omnibus Incentive Plan (Quanex Corp)

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Amendment, Modification, Suspension, and Termination. Subject to Section 15.214.2, the Committee Board may, at any time and from time to time, alter, amend, modify, suspend, or terminate the Plan and and/or any Award Agreement in whole or in part; provided, however, that, without the prior approval of the Company’s stockholders shareholders and except as provided in Section 4.5, the Committee Board shall not directly or indirectly lower the Option Price of a previously granted Option, and no amendment of the Plan shall be made without stockholder shareholder approval if stockholder shareholder approval is required by applicable law or stock exchange rules.

Appears in 2 contracts

Samples: 2006 Omnibus Incentive Plan (Weatherford International LTD), 2006 Omnibus Incentive Plan (Weatherford International LTD)

Amendment, Modification, Suspension, and Termination. Subject to Section 15.2, 12.2 the Committee may, at any time and from time to time, alter, amend, modify, suspend, or terminate the Plan and any Award Agreement in whole or in part; provided, however, that, without the prior approval of the Company’s stockholders and except as provided in Section 4.5, the Committee shall not directly or indirectly lower the Option Price of a previously granted Option, and no amendment of the Plan shall be made without stockholder approval if stockholder approval is required by applicable law or stock exchange rules.

Appears in 1 contract

Samples: Long Term Incentive Plan (Stewart Information Services Corp)

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Amendment, Modification, Suspension, and Termination. Subject to Section 15.214.2, the Committee may, at any time and from time to time, alter, amend, modify, suspend, or terminate the Plan and any Award Agreement in whole or in part; provided, however, that, without the prior approval of the Company’s stockholders and except as provided in Section 4.5, the Committee shall not directly or indirectly lower the Option Price of a previously granted Option, and no amendment of the Plan shall be made without stockholder approval if stockholder approval is required by applicable law or stock exchange rules.

Appears in 1 contract

Samples: Long Term Incentive Plan (Grant Prideco Inc)

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