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.
Appears in 5 contracts
Samples: Employment Agreement, Employment Agreement (Phosphate Holdings, Inc.), Employment Agreement (Phosphate Holdings, Inc.)
