Amendment and Termination; Waiver. This Cancellation Agreement may be modified or amended only by the written agreement of the parties hereto. The waiver by the Company of a breach of any provision of the Cancellation Agreement by the Participant shall not operate or be construed as a waiver of any subsequent breach by the Participant. Notwithstanding the foregoing, the Company shall have unilateral authority to amend this Cancellation Agreement (without Participant consent) to the extent necessary to comply with applicable laws, rules, and regulations or changes to applicable laws, rules, and regulations.
Appears in 3 contracts
Sources: Restricted Stock Award Cancellation Agreement (BNC Bancorp), Restricted Stock Award Cancellation Agreement (BNC Bancorp), Restricted Stock Award Cancellation Agreement (BNC Bancorp)
Amendment and Termination; Waiver. This Cancellation Agreement may be modified or amended only by the written agreement of the parties hereto. The waiver by the Company of a breach of any provision of the Cancellation Agreement by the Participant Optionee shall not operate or be construed as a waiver of any subsequent breach by the Participant. Notwithstanding the foregoing, the Company shall have unilateral authority to amend this Cancellation Agreement (without Participant consent) to the extent necessary to comply with applicable laws, rules, and regulations or changes to applicable laws, rules, and regulationsOptionee.
Appears in 2 contracts
Sources: Agreement to Cancel Certain Options (Frisby Technologies Inc), Agreement to Cancel Certain Options (Frisby Technologies Inc)