Common use of PLAN MODIFICATION OR TERMINATION Clause in Contracts

PLAN MODIFICATION OR TERMINATION. The Plan may not be terminated during the Effective Period. The Plan may be amended by the Board at any time; provided, however, that during the Effective Period, the Plan may not be amended if such amendment would in any manner be adverse to the interests of any Eligible Employee, except that, notwithstanding the foregoing, the Plan Administrator may amend the Plan at any time and in any manner necessary to comply with applicable law, including, but not limited to Section 409A of the Code. For the avoidance of doubt, (a) any action taken by the Company or the Plan Administrator during the Effective Period to cause an Eligible Employee to no longer be designated as such or to decrease the payments or benefits for which an Eligible Employee is eligible, and (b) any amendment to this Section 5 during the Effective Period shall be treated as an amendment to the Plan which is adverse to the interests of any Eligible Employee.

PLAN MODIFICATION OR TERMINATION. The Plan may not be terminated during prior to the Effective Periodpayment of all benefits due an Eligible Employee. The Plan may be amended by the Board at any time; provided, however, that during the Effective Period, the Plan may not be amended if such amendment would in any manner be adverse to the interests of any Eligible Employee, except that, notwithstanding the foregoing, the Plan Administrator may amend the Plan at any time and in any manner necessary to comply with applicable law, including, but not limited to Section 409A of the Code. For the avoidance of doubt, (a) any action taken by the Company or the Plan Administrator during the Effective Period to cause an Eligible Employee to no longer be designated as such or to decrease the payments or benefits for which an Eligible Employee is eligible, and (b) any amendment to this Section 5 during the Effective Period 4 shall be treated as an amendment to the Plan which is adverse to the interests of any Eligible Employee.