Administration Amendment and Termination Sample Clauses
Administration Amendment and Termination. 8.1 The Scheme shall be administered by the Trustee in consultation with the Board whose decision on all disputes shall be final.
8.2 The Board may with the consent of the Trustee from time to time make amendments to these Rules provided that:
8.2.1 no amendment may detrimentally affect an Option Holder as regards any Subsisting Option held by him on the date of the amendment being made except with the consent in writing of such Option Holders who, assuming they exercise their Options in full, would thereby become entitled to not less than three quarters in nominal amount of all the Shares which would fall to be allotted upon exercise in full of all Subsisting Options; and
8.2.2 except with the prior sanction of the Company in general meeting no such modification or variation shall extend the class of person eligible for the grant of Options or alter to the advantage of Option Holders (present or future) Rules 2.1, 2.5, 5 or the definitions of "Eligible Employee", "Participating Company" or "Purchase Price" except for minor amendments to benefit the administration of the Scheme, to comply with or take account of any proposed or existing legislation or law or to obtain or maintain favourable tax, exchange control or regulatory treatment for Option Holders (present or future) or for any Participating Company;
Administration Amendment and Termination. The Committee shall have all powers necessary to interpret and to administer this SERP in its absolute discretion and, further, shall have the right to amend this SERP from time to time in any respect whatsoever and to terminate this SERP at any time; provided, however, that any such amendment or termination shall not be applied retroactively to deprive a Participant of benefits accrued under this SERP to the date of such amendment or termination.
Administration Amendment and Termination. The Board of Directors of the Company shall have all powers necessary to interpret and administer this award, to amend this award (and any related exhibits) in writing from time to time in any respect whatsoever and to terminate this award in writing at any time; provided, however, that any such amendment or termination shall not be applied retroactively to deprive Executive of all or any part of the benefits which have accrued to the date of such amendment or termination. The Board of Directors also shall have the power to delegate the exercise of all or any part of its powers to such other person or persons as the Board deems appropriate under the circumstances. If a claim for benefits under this Agreement is denied, the Board of Directors of the Company shall provide written notice to Executive or his Spouse setting forth the specific reasons for such denial and shall afford Executive or his Spouse a reasonable opportunity for a full and fair review of the decision denying benefits under this Agreement as required by ERISA Section 503. Reference to the Company herein shall include any successor in interest to the Company or of all or a substantial part of its business or assets (whether by merger, sale of stock, sale of assets or otherwise) and this document shall be binding upon any such successor and of any successor thereto.
Administration Amendment and Termination