Common use of Plan Term Clause in Contracts

Plan Term. This Plan commenced on January 1, 2007, and shall continue in effect until terminated by the Company. The Company may terminate this Plan entirely or terminate any individual Executive’s participation in the Plan at any time by: (a) giving all Executives twelve (12) months prior written notice of Plan termination if terminating the Plan in its entirety or (b) giving the affected Executive twelve (12) months prior written notice if terminating the affected Executive’s participation in the Plan. Upon delivery of such notice by the Company, this Plan or the Executive’s participation in the Plan, as the case may be, along with all corresponding rights, duties, and covenants, shall terminate on the date indicated in such notice, which date shall not be less than twelve (12) months from the date the Executive received such notice.