Common use of TERMINATION OR MODIFICATION OF AGREEMENT Clause in Contracts

TERMINATION OR MODIFICATION OF AGREEMENT. BY REASON OF CHANGES IN THE LAW, RULES OR REGULATIONS The Institution is entering into this Agreement upon the assumption that certain existing tax laws, rules and regulations will continue in effect in their current form. If any said assumptions should change and said change has a detrimental effect on this Director Plan, then the Institution reserves the right to terminate or modify this Agreement accordingly. Upon a Change of Control (Paragraph IX), this paragraph shall become null and void effective immediately upon said Change of Control.

TERMINATION OR MODIFICATION OF AGREEMENT. BY REASON OF CHANGES IN THE LAW, RULES OR REGULATIONS The Institution Company is entering into this Agreement upon the assumption that certain existing tax laws, rules and regulations will continue in effect in their current form. If any said assumptions should change and said change has a detrimental effect on this Director Plan, then the Institution Company reserves the right to terminate or modify this Agreement accordingly. Upon a Change of Control (Paragraph IXSubparagraph I [J]), this paragraph shall become null and void effective immediately upon said Change of Control.