Establishment and Term of the Plan Sample Clauses

Establishment and Term of the Plan. 1.1 Establishment of the Plan. Xxxxxxxx American Inc. hereby amends and restates the severance plan known as the “Xxxxxxxx American Inc. Executive Severance Plan” effective as of December 1, 2012. The Plan was originally effective January 1, 2007, and was subsequently amended and restated effective January 1, 2008, January 1, 2009, February 1, 2009, and August 1, 2009. The Plan provides severance benefits to specified executives of the Company and any other entity that adopts this Plan in accordance with the provisions of Section 9.3 upon certain terminations of employment from a Participating Company. The Company considers the establishment and maintenance of a sound management to be essential to protecting and enhancing the best interests of the Company and its shareholders. In this connection, the Company recognizes that, as is the case with many publicly held corporations, the possibilities of a Change in Control or a termination of an Executive’s employment by a Participating Company may arise and that such possibilities, and the uncertainty and questions which they may raise among management, may result in the departure or distraction of management personnel to the detriment of the Company and its shareholders. Accordingly, the Board has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication of members of the Participating Companies’ management to their assigned duties without distraction in circumstances arising from the possibility of a Change in Control of the Company or a termination of an Executive’s employment by a Participating Company.
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Establishment and Term of the Plan. 1.1Establishment of the Plan. The Corporation established the CBOE Holdings, Inc. Executive Severance Plan effective on January 1, 2011 (the "Plan"). The Plan has been amended from time to time thereafter including this complete amendment and restatement effective January 1, 2015. The purpose of the Plan is to provide Severance Benefits to certain eligible executives of the Corporation and its Affiliates in accordance with the terms of the Plan. No individuals other than the Executives shall be eligible to receive Severance Benefits. Severance Benefits for the Executives will be determined exclusively under the Plan. The Plan, as set forth herein, is an employee welfare benefit plan within the meaning of ERISA Section 3(1), and the Corporation intends that the Plan be administered in accordance with the applicable requirements of ERISA. This Plan document, including the information provided in Appendix B hereto, is also the summary plan description of the Plan.
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Establishment and Term of the Plan 
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Related to Establishment and Term of the Plan

  • Amendment and Termination of the Plan The Board may, by resolution, at any time, amend or terminate the Plan. The power to amend or terminate the Plan shall include the power to direct the Trustee to return to the Parent all or any part of the assets of the Trust, including shares of Common Stock held in the Plan Share Reserve, as well as shares of Common Stock and other assets subject to Plan Share Awards which have not yet been earned by the Participants to whom they have been awarded. However, the termination of the Trust shall not affect a Participant's right to earn Plan Share Awards and to the distribution of Common Stock relating thereto, including earnings thereon, in accordance with the terms of this Plan and the grant by the Committee or the Board. Notwithstanding the foregoing, no action of the Board may increase (other than as provided in Section 9.01 hereof) the maximum number of Plan Shares permitted to be awarded under the Plan as specified at Section 5.03, materially increase the benefits accruing to Participants under the Plan or materially modify the requirements for eligibility for participation in the Plan unless such action of the Board shall be subject to ratification by the stockholders of the Parent.

  • Scope of Services and Term Member Agency has requested WRCOG to provide certain professional service (“Services”) offered under the Program

  • Term of Agreement and Termination 2.1. This Agreement enters into effect at the time of acceptance of this Agreement.

  • Effective Date and Term of Agreement This Agreement is effective and binding on the Company and Employee as of the date hereof; provided, however, that, subject to Section 2(d), the provisions of Sections 3 and 4 shall become operative only upon the Change in Control Date.

  • Grant and Term 2.1 In consideration of the payment of the Site Fee, the Owner grants the Principal Occupant a licence to store the Dwelling on the Site subject to the terms of this Agreement.

  • Agreement and Term A1.1 This Agreement records the Parties' agreement that:

  • Employment and Term The Company hereby agrees to employ the Executive and the Executive hereby agrees to serve the Company on the terms and conditions set forth herein.

  • Period of Agreement This Agreement shall start on _, 20 (“Effective Date”), and end on , 20_ _, at 12:00 midnight (“Listing Period”), unless the expiration date is extended in writing.

  • Agreement Term and Termination This agreement will remain in effect until the expiration or termination of Customer’s Subscription, whichever is earliest. Customer may terminate this agreement at any time by contacting its Reseller. The expiration or termination of this agreement will only terminate Customer’s right to place new orders for additional Products under this agreement.

  • Contract Term and Termination 4.1. This Contract is concluded for 1 (one) year with the possibility of being automatically extended for new 1- year successive periods, under the same contractual conditions, unless any of the parties express their intention not to extend the Contract at least 30 days prior to its expiry.

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