Effectiveness of the Plan Sample Clauses

Effectiveness of the Plan. The Plan shall be effective as of the Effective Date.

Effectiveness of the Plan. The Plan became effective upon adoption by the Board, subject, however, to its further approval by the stockholders of the Company given within twelve (12) months of the date the Plan is adopted by the Board at a regular meeting of the stockholders or at a special meeting duly called and held for such purpose. Grants of Awards may be made prior to such stockholder approval but all Award grants made prior to stockholder approval shall be subject to the obtaining of such approval and if such approval is not obtained, such Awards shall not be effective for any purpose. This amendment and restatement shall become effective upon adoption by the Board.

Effectiveness of the Plan. The Plan shall become effective only after the Board shall, by the affirmative vote of a majority of its members, have approved the Plan.

Effectiveness of the Plan. Following adoption by the Board, the Plan shall take effect on the date approved by the stockholders of the Company. Notwithstanding any provision to the contrary, all Options and Restricted Stock shall be without force or effect unless the Plan shall have been approved by the stockholders of the Company. Any Plan amendments which require stockholder approval pursuant to Section 14 are subject to approval by vote of the stockholders of the Company within 12 months after their adoption by the Board. Subject to such approval, any such amendments shall be effective on the date on which they are adopted by the Board. Options and Restricted Stock which are dependent upon stockholder approval of a Plan amendment may be granted prior to such approval, but shall be subject to such approval. The date on which any Option or Restricted Stock grant dependent upon stockholder approval of a Plan amendment is effective shall be the Date of Grant for all purposes as if the Option or Restricted Stock grant had not been subject to such approval; however, no Option or Restricted Stock granted may be exercised prior to such stockholder approval.

Effectiveness of the Plan. The Plan shall become effective upon adoption by the Board; provided, however, that the Plan shall be submitted for approval by the holders of a majority of the voting stock of the Company at the Company's next Annual Meeting of Stockholders to be held in 1997. In the event the stockholders shall fail to approve the Plan within 12 months before or after the Plan is adopted by the Board, it and all Options granted thereunder shall be and become null and void. Notwithstanding any other provision of the Plan to the contrary, no Options granted under the Plan may be exercised until after such stockholder approval.

Effectiveness of the Plan. The Plan was adopted by the Board of Directors on February 10, 1999. The Plan shall be subject to approval on or before February 9, 2000, which is within one (1) year of adoption of the Plan by the Board of Directors, by a majority of the votes cast at a meeting of stockholders of the Company by the holders of shares entitled to vote thereon (or, in the case of action by written consent in lieu of a meeting of stockholders, the number of votes required by applicable law to act in lieu of a meeting) (“Stockholder Approval”). In the event such Stockholder Approval is withheld or otherwise not received on or before the latter date, the Plan and, subject to the terms of the Stock Option Agreement, all Options that may have been granted hereunder shall become null and void.

Effectiveness of the Plan. Each of the conditions to the effectiveness of the Plan shall have occurred or have been duly waived.

Effectiveness of the Plan. The date upon which the Plan shall become effective, following requisite approval by the Bankruptcy Court, is referred to as the "Effective Date."

Effectiveness of the Plan. The Plan and any amendments requiring stockholder approval pursuant to Article 14 are subject to approval by vote of the stockholders of the Corporation within 12 months after their adoption by the Board. Subject to that approval, the Plan and any amendments are effective on the date on which they are adopted by the Board. Options, Rights, Restricted Stock and Incentive Shares may be granted or awarded prior to stockholder approval of the Plan or amendments, but each such Award shall be subject to the approval of the Plan or amendments by the stockholders. The date on which any Option, Right, Restricted Stock or Incentive Shares granted or awarded prior to stockholder approval of the Plan or amendment is granted or awarded shall be the Date of Grant for all purposes as if the Option, Right, Restricted Stock or Incentive Shares had not been subject to approval. No Option or Right may be exercised prior to such stockholder approval, and any Restricted Stock or Incentive Shares awarded shall be forfeited if such stockholder approval is not obtained. GSE SYSTEMS, INC. EXHIBIT 10.8 FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 1996