Amendments, Review, and Termination Sample Clauses
The "Amendments, Review, and Termination" clause defines the procedures for modifying, periodically reviewing, or ending the agreement. Typically, it outlines how parties can propose changes, the process for mutual approval of amendments, and the required notice or conditions for terminating the contract. For example, it may require written consent from all parties for any changes, or specify a review period after which terms can be renegotiated. This clause ensures that the agreement remains adaptable to changing circumstances while providing a clear framework for making adjustments or ending the relationship, thereby reducing uncertainty and potential disputes.
Amendments, Review, and Termination. The terms and conditions of, and bonuses awarded pursuant to, this Plan shall not be subject to adjustment by the Compensation Committee on or before December 31, 2008. With respect to any Fiscal Year beginning on or after January 1, 2009, the Compensation Committee shall have the right, which right must be exercised at least 90 days prior to the first day of such Fiscal Year, to modify or terminate the Plan with no liability to the Participants except to pay any bonuses that were awarded for the prior Plan year but that have not been paid as of the date of the modification or termination of the Plan.