Common use of Changes in Status Clause in Contracts

Changes in Status. The Participant acknowledges that, notwithstanding any terms of the Plan or this Agreement to the contrary, the Administrator has sole discretion to determine (taking into account any Code Section 409A considerations), at the time of grant of the Option or at any time thereafter, the effect, if any, on the Option (including, but not limited to, the vesting and/or exercisability of the Option) due to any change in the Participant’s status as a Director, including, but not limited to, any change in the nature or scope of the Participant’s services.