Term of the Plan. The Plan shall be effective on the date on which the Plan is adopted by the Board (the “Effective Date”) and shall continue until terminated by the Board. However, any Award granted prior to such termination, and the authority of the Board or the Committee to amend, alter, adjust, suspend, discontinue or terminate any such Award or to waive any conditions or rights under such Award, shall extend beyond such termination date.
Appears in 5 contracts
Samples: Retention Agreement (Marathon Petroleum Corp), Retention Agreement (MPLX Lp), Retention Agreement (MPLX Lp)
Term of the Plan. The Plan shall be effective on the date on which the Plan is adopted of its approval by the Board (the “Effective Date”) and shall continue until the date terminated by the Board. However, unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award granted prior to such termination, and the authority of the Board or the Committee to amend, alter, adjust, suspend, discontinue discontinue, or terminate any such Award or to waive any conditions or rights under such Award, shall extend beyond such termination date.
Appears in 1 contract
Samples: Option Agreement (Linn Energy, LLC)
