Right to Amend or Terminate. Except as specifically provided herein, nothing in this Agreement shall be construed or interpreted to restrict the Corporation Group's or the IMS Health Group's right or authority to amend or terminate any of their Employee Benefit Plans following the Effective Time.
Right to Amend or Terminate. Except as specifically provided herein, nothing in this Agreement shall be construed or interpreted to restrict the D&B Group's, the Cognizant Group's or the ACNielsen Group's right or authority to amend or terminate any of their Employee Benefit Plans following the Effective Time.
Right to Amend or Terminate. The Company expects the Plan to be permanent, but since future conditions cannot be anticipated or foreseen, it must necessarily and hereby does reserve the right to amend or terminate the Plan at any time by action of the Board, in a writing signed by an officer of the Company, provided that no amendment of the Plan that affects the rights, duties or responsibilities of any Trustee shall be adopted without such Trustee’s written consent and acceptance thereof. The Company shall have the right to amend the Plan on behalf of all Employers.
Right to Amend or Terminate a. Subject to Section 4.2.b, the Compensation Committee reserves the power and right to modify, amend, or terminate (in whole or in part) any or all of the provisions of the Plan at any time for any reason. Any Plan amendment shall be adopted by action of the Company's Compensation Committee and executed by a Corporate Officer authorized to act on behalf of the Company.
b. Notwithstanding anything herein to the contrary, in the event of a Change in Control, this Plan shall no longer be subject to amendment or termination with respect to Affected Individuals who are Employees of the Company as of the date of the Change in Control, but, as applied to such Affected Individuals with respect to all rights hereby conferred as a result of that Change in Control, (i) the terms and conditions hereof shall become fixed, (ii) the benefits promised hereunder shall become fully vested contract rights, (iii) the Annual Base Salary used to determine an Affected Individual's benefits hereunder shall be such individual's highest rate of Annual Base Salary (in the case of a salesperson, highest earning month multiplied by 12) during the period commencing on the first day of the Plan Year prior to the Plan Year in which the Change in Control occurs and ending on the date of the Affected Individual's Termination Date and (iv) the requirements of Section 2.1.b shall be deemed satisfied.
c. For purposes of this Plan, a Change in Control shall occur when the first step is taken (e.g., commencement of negotiations) in a process that results in any one of the following events:
i. The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended) (the "Act") of beneficial ownership (within the meaning of Rule 13d-3 of the Act) of 20% or more of the (A) then outstanding voting stock of Summit; or (B) the combined voting power of the then outstanding securities of Summit entitled to vote; or
ii. An ownership change in which the shareholders of Summit before such ownership change do not retain, directly or indirectly, at least a majority of the beneficial interest in the voting stock of Summit after such transaction, or in which Summit is not the surviving company; or
iii. The direct or indirect sale or exchange by the beneficial owners (directly or indirectly) of Summit of all or substantially all of the stock of Summit; or
iv. The composition of the Board changes so that the Board is not under th...
Right to Amend or Terminate. Except as specifically provided herein, nothing in this Agreement shall be construed or interpreted to restrict the Moody's Group's or the New D&B Group's right or authority to amend or terminate any of their Employee Benefit Plans following the Effective Time.
Right to Amend or Terminate. Except as specifically provided herein, nothing in this Agreement shall be construed or interpreted to restrict the RHD Group's or the New D&B Group's right or authority to amend or terminate any of their Employee Benefit Plans following the Effective Time.
Right to Amend or Terminate. The Bank reserves the right to amend, modify, or terminate this Policy at any time without notice.
Right to Amend or Terminate. Except as specifically provided herein, nothing in this Agreement shall be construed or interpreted to restrict PC Mall’s right or authority to amend or terminate the PC Mall Plans at any time it deems necessary or appropriate.
Right to Amend or Terminate. The Board with the Employee's prior --------------------------- written approval, may at any time and from time to time to modify, suspend, amend or terminate the Agreement in whole or in part.
Right to Amend or Terminate. The Committee may amend or terminate this Plan at any time without the consent of any Participants.
