Effective Date and Term of Plan. The Plan shall become effective on the later of the date on which it is adopted by the Committee or the date on which it is approved by the Company's shareholders (the "Effective Date). No Awards shall be granted under the Plan after the completion of ten years from the Effective Date, but Awards previously granted may extend beyond that date. Notwithstanding any provision of this Plan to the contrary, if the Company has executed a definitive acquisition or similar agreement pursuant to which a Change in Control will occur upon the closing of the transaction(s) contemplated thereby, the Committee, in its sole discretion, may treat the execution of such agreement itself as triggering a Change in Control.
Appears in 5 contracts
Samples: Grant Agreement (Aerobic Creations, Inc.), Grant Agreement (Aerobic Creations, Inc.), Director and Founders Agreement (Aerobic Creations, Inc.)
