Common use of Rule 16b-3 Compliance Clause in Contracts

Rule 16b-3 Compliance. It is the intention of the Company that the Plan comply in all respects with Rule 16b-3, that any ambiguities or inconsistencies in construction of the Plan be interpreted to give effect to such intention and that if any provision of the Plan is found not to be in compliance with Rule 16b-3, such provision shall be deemed null and void to the extent required to permit the Plan to comply with Rule 16b-3. The Board may adopt rules and regulations under, and amend, the Plan in furtherance of the intent of the foregoing.

Appears in 2 contracts

Samples: 1994 Stock Option Plan for Non Employee Directors (Universal Corp /Va/), 1994 Stock Option Plan for Non Employee Directors (Universal Corp /Va/)

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Rule 16b-3 Compliance. It is the intention of the Company that the Plan comply in all respects with Rule 16b-3, that any ambiguities or inconsistencies in construction of the Plan be interpreted to give effect to such intention and that that, if any provision of the Plan is found not to be in compliance with Rule 16b-3, such provision shall be deemed null and void to the extent required to permit the Plan to comply with Rule 16b-3. The Board may adopt rules and regulations under, and may amend, the Plan in furtherance of the intent of the foregoing.

Appears in 1 contract

Samples: 1996 Stock Option Plan for Non Employee Directors (Open Plan Systems Inc)

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Rule 16b-3 Compliance. It is the intention of the Company that the Plan comply in all respects with Rule 16b-3, that any ambiguities or inconsistencies in construction of the Plan be interpreted to give effect to such intention and that that, if any provision of the Plan is found not to be in compliance with Rule 16b-3, such provision shall be deemed null and void to the extent required to permit the Plan to comply with Rule 16b-3. The Board Committee may adopt rules and regulations under, and the Board may amend, the Plan in furtherance of the intent of the foregoing.

Appears in 1 contract

Samples: 2000 Stock Option Plan for Non Employee Directors (Open Plan Systems Inc)

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