Common use of Amendment of Awards Clause in Contracts

Amendment of Awards. The Committee may amend, modify or terminate any outstanding Award including, but not limited to, substituting therefor another Award of the same or a different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory Stock Option, provided that the Participant's consent to such action shall be required unless the Committee determines that the action, taking into account any related action, would not materially and adversely affect the Participant.

Appears in 5 contracts

Samples: Grant Agreement (Aerobic Creations, Inc.), Director and Founders Agreement (Aerobic Creations, Inc.), Grant Agreement (Aerobic Creations, Inc.)

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Amendment of Awards. The Committee Board may amend, modify or terminate any outstanding Award including, but not limited to, substituting therefor another Award of the same or a different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory Stock Option, provided that the Participant's ’s consent to such action shall be required unless the Committee Board determines that the action, taking into account any related action, would not materially and adversely affect the ParticipantParticipant and such action is expressly permitted herein, including, without limitation, Section 7(m).

Appears in 1 contract

Samples: Employment Agreement (American Railcar Industries, Inc./De)

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Amendment of Awards. The Committee Board may amend, modify or terminate any outstanding Award including, but not limited to, substituting therefor another Award of the same or a different type, changing the date of exercise or realization, and converting an Incentive Stock Option to a Nonstatutory Stock Option, provided that the Participant's consent to such action shall be required unless the Committee Board determines that the action, taking into account any related action, would not materially and adversely affect the ParticipantParticipant and such action is expressly permitted herein, including, without limitation, Section 7(m).

Appears in 1 contract

Samples: Employment Agreement (American Railcar Industries, Inc./De)

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