Common use of Modification, Extension and Renewal of Options Clause in Contracts

Modification, Extension and Renewal of Options. The Board of Directors or a Committee thereof may modify, extend or renew this Option or accept its surrender (to the extent not yet exercised) and authorize the granting of a new option in substitution for it (to the extent not yet exercised), subject at all times to the Internal Revenue Code and New York law. Notwithstanding the provisions of this Section 9, no modification shall, without the consent of the Optionee, alter to the Optionee's detriment or impair any rights of Optionee hereunder.

Modification, Extension and Renewal of Options. The Board of Directors or a Committee thereof may modify, extend or renew this Option or accept its surrender (to the extent not yet exercised) and authorize the granting of a new option in substitution for it (to the extent not yet exercised), subject at all times to the Internal Revenue Code and New York law. Notwithstanding the provisions of this Section 912, no modification shall, without the consent of the Optionee, alter to the Optionee's detriment or impair any rights of Optionee hereunder, except for the Board’ authority to make adjustments as provided in Section 10.

Modification, Extension and Renewal of Options. The Board of Directors of the Company or a Committee thereof committee designated by the Board of Directors, may modify, extend or renew this Option or accept its the surrender thereof (to the extent not yet theretofore exercised) and authorize the granting of a new option in substitution for it therefore (to the extent not yet theretofore exercised), subject at all times to the Internal Revenue Code and New York law. Notwithstanding the foregoing provisions of this Section 912, no modification shall, without the consent of the Optionee, alter to the Optionee's ’s detriment or impair any rights of Optionee hereunder.

Modification, Extension and Renewal of Options. The Board of Directors or a Committee thereof may modify, extend or renew this Option or accept its surrender (to the extent not yet exercised) and authorize the granting of a new option in substitution for it (to the extent not yet exercised), subject at all times to the Internal Revenue Code and New York law. Notwithstanding the provisions of this Section 911, no modification shall, without the consent of the Optionee, alter to the Optionee's detriment or impair any rights of Optionee hereunder, except for the Board’ authority to make adjustments as provided in Section 9 above.