Common use of Amendment or Discontinuance Clause in Contracts

Amendment or Discontinuance. The Board may, at any time, amend or terminate the Plan. The P!an may also be amended by the Committee, provided that all such amendments shall be reported to the Board. No amendment shall, without approval by a majority of the Company's stockholders, (i) alter the group of persons eligible to participate in the Plan, (ii) materially increase the benefits provided under the Plan to the extent that stockholder approval would then be required pursuant to Rule 16b-3 under the Securities Exchange Act of 1934 or successor rule or regulation, if such rule(s) or regulation(s) is applicable at that time, (iii) increase the maximum number of shares of Stock which are available for Awards under the Plan, or (iv) extend the period during which Awards may be granted under the P!an beyond the expiration of ten years from the effective date of the Plan. No amendment or termination shall retroactively impair the rights of any person with respect to an Award. On or after the occurrence of a Change in Control, the Plan may not be amended or terminated until all payments required by Section 15 are made.

Amendment or Discontinuance. The Board may, at any time, amend or terminate the Plan. The P!an Plan may also be amended by the Committee, provided that all such amendments shall be reported to the Board. No amendment shall, without approval by a majority of the Company's stockholders, (i) alter the group of persons eligible to participate in the Plan, (ii) materially increase the benefits provided under the Plan to the extent that stockholder approval would then be required pursuant to Rule 16b-3 under the Securities Exchange Act of 1934 or successor rule or regulation, if such rule(s) or regulation(s) is applicable at that time, (iii) increase the maximum number of shares of Stock which are available for Awards under the Plan, or (iv) extend the period during which Awards may be granted under the P!an Plan beyond the expiration of ten years from the effective date of the Plan. No amendment or termination shall retroactively impair the rights of any person with respect to an Award. On or after the occurrence of a Change in Control, the Plan may not be amended or terminated until all payments required by Section 15 are made.