Amendment or Termination of Plan. Except as otherwise provided in sections 2.3, 2.4, 2.5 and 8.2, the Company may amend or terminate this Plan and/or a Participant’s rights under this Plan at any time prior to a Participant’s death by written notice to the Participant.
Amendment or Termination of Plan. The Board of Directors may at any time amend, suspend or terminate the Plan; provided, however, that no amendment, suspension or termination of the Plan or the Option shall adversely affect the Option in any material way without your written consent.
Amendment or Termination of Plan. The Committee may amend or terminate this Plan as it shall deem advisable, subject to any requirement of stockholder approval required by applicable law, rule or regulation, including Section 162(m) of the Code. Notwithstanding any provision of this Plan to the contrary, if a Business Entity has executed a definitive acquisition or similar agreement pursuant to which a Fundamental Transaction will occur upon the closing of the transaction(s) contemplated thereby, the Committee, in its sole discretion, may treat the execution of such agreement itself as triggering a Fundamental Transaction.
Amendment or Termination of Plan. Except as otherwise provided in section 2.4 and 8.2, (i) the Bank may amend or terminate the Plan at any time, and (ii) the Bank may amend or terminate a Participant's rights under the Plan at any time prior to a Participant's death by written notice to the Participant.
Amendment or Termination of Plan. 12.01 The Prototype Sponsor may amend any part of this Prototype Plan. In such event, the Plan adopted by the Employer shall be deemed likewise amended upon receipt by the Employer and the Trustee of a copy of such amendment.
12.02 The Employer reserves the right to amend any provision of the Plan at any time and to any extent that it may deem advisable without the consent of any Participant or any Beneficiary provided, however, that no amendment shall deprive any Participant of any vested interest. The corpus or income of the trust may not be diverted to or used for purposes other than for the exclusive benefit of the Participants or their Beneficiaries nor shall any amendment make such possible. The Employer may:
(a) change the choice of options in the Adoption Agreement; and
(b) add overriding language in the Adoption Agreement when such language is necessary to satisfy Section 415 or Section 416 of the Code because of the required aggregation of multiple plans; and
(c) add certain model amendments published by the Internal Revenue Service which specifically provide that their adoption shall not cause the plan to be treated as individually designed. An Employer that amends the Plan for any other reason, including a waiver of the minimum funding requirement under Section 412(d) of the Code, shall no longer participate in this Master or Prototype plan and shall be considered to have an individually designed plan.
12.03 Any amendment to this Plan by the Employer shall be set forth in writing and executed by a duly authorized officer on behalf of the Employer. Any recital in such an instrument that the action proposed was authorized by the Board of Directors shall be accepted by the Trustee as proof of such action. After the Trustee has signed the amendment, this Plan shall be deemed to have been amended to the extent therein set forth.
12.04 This Plan is purely voluntary on the part of the Employer, and the Employer reserves the right at any time and at its sole discretion, with proper notification to the appropriate governmental agencies and Trustee, to reduce benefits under this Plan or to terminate it, or both. However, no amendment to the Plan shall be effective to the extent that it has the effect of decreasing a Participant's accrued benefit. Notwithstanding the preceding sentence, a Participant's Account balance may be reduced to the extent permitted under Section 412(c)(8) of the Code. For purposes of this paragraph, a plan amendment which has the ...
Amendment or Termination of Plan. The Board may at any time terminate or amend this Plan in any respect, including without limitation amendment of any form of Award Agreement or instrument to be executed pursuant to this Plan; provided, however, that the Board will not, without the approval of the stockholders of the Company, amend this Plan in any manner that requires such stockholder approval.
Amendment or Termination of Plan. This Agreement may be amended or terminated only by a written instrument executed by both the Participant and the Company. The rights of the Company set forth in this Article VI are subject to the condition that the Board or its delegate shall take no action to terminate the Agreement or decrease the benefit that would become payable or is payable, as the case may be, with respect to a Participant who has become eligible for early, normal or postponed retirement under the Company’s tax-qualified retirement plan. Upon the termination of this Agreement by the Board, the Agreement shall no longer be of any further force or effect, and neither the Company, nor the Participant shall have any further obligation or right under this Agreement. Likewise, the rights of any individual who was a Participant and whose designation as a Participant is revoked or rescinded by the Board shall cease upon such action.
Amendment or Termination of Plan. The Board may amend, terminate or suspend the Plan at any time, in its sole and absolute discretion; provided, however, that to the extent required to maintain the status of any Option under the Code, no amendment that would change the aggregate number of shares of Stock which may be issued under Options, or change the class of Employees eligible to receive Options shall be made without the approval of the Company’s stockholders. Subject to the preceding sentence, the Board shall have the power to make any changes in the Plan and in the regulations and administrative provisions under it or in any outstanding Incentive Option as in the opinion of counsel for the Company may be necessary or appropriate from time to time to enable any Incentive Option granted under the Plan to continue to qualify as an incentive stock option or such other stock option as may be defined under the Code so as to receive preferential federal income tax treatment.
Amendment or Termination of Plan. The Committee may amend, suspend or terminate the Plan at any time with or without prior notice; provided, however, that no such action shall materially impair any rights or benefits (other than the right to effect Compensation deferrals under a previous election) which theretofore accrued under the Plan without the consent of affected Participants. If the Committee determines to accelerate distribution in a lump sum pursuant to Section 7.2(i) of the Plan, each deferral election of a Participant receiving payment as a result thereof shall be deemed to be terminated on the date of the Change in Control.
Amendment or Termination of Plan. The Board or the Committee may amend, suspend or terminate the Plan at any time. However, without the approval of the Company?s stockholders, there shall be (a) no increase in the maximum aggregate number of shares of Stock that may be issued under the Plan (except by operation of the provisions of Section 4.2), (b) no change in the class of persons eligible to receive Incentive Stock Options, and (c) no other amendment of the Plan that would require approval of the Company?s stockholders under any applicable law, regulation or rule. No amendment, suspension or termination of the Plan shall affect any then outstanding Award unless expressly provided by the Board or the Committee. In any event, no amendment, suspension or termination of the Plan may adversely affect any then outstanding Award without the consent of the Participant unless necessary to comply with any applicable law, regulation or rule.
