Amendment; Termination; Lapse Sample Clauses


Amendment; Termination; Lapse. The Board reserves the right to adopt, terminate or amend the provisions of the Plan to any extent and in any manner it desires prior to a Change in Control by execution of a written document describing the intended amendment(s). Following a Change in Control, the Plan may be amended or terminated by the Board at any time; provided, however, that no such amendment or termination shall have an adverse effect on any rights of a Participant without his or her written consent. In the event that a Change in Control of Province does not occur within two (2) years following the Effective Date, this Plan automatically shall terminate and be of no further effect, and all rights of the Participants shall terminate without consideration. Nothing in this Plan or any document describing, interpreting or relating to the Plan shall be construed to provide, prior to a Change in Control, any vested, nonforfeitable, nonterminable, or nonchangeable benefits or rights thereto.