Company’s Election to Terminate Clause Samples
Company’s Election to Terminate. At any time and for any reason, the Board may terminate the Agreement; provided however, that any such termination shall not reduce the accrued benefit of any Director. Termination of this Agreement shall not be a distribution event under the Plan or this Agreement unless otherwise permitted under Section 409A of the Code or other applicable law.
Company’s Election to Terminate. At any time and for any reason, the Board may terminate the Agreement as to future deferrals provided that no distributions shall be made to a Director except as provided in Section 4 hereof and in compliance with Section 409A.