Common use of Restrictions on Amendments Clause in Contracts

Restrictions on Amendments. Without the consent of the Participant, the Board may not exercise its powers under Rule 12.1(a) in a manner which reduces the rights of the Participant in respect of any Performance Right or Share already granted other than an amendment introduced primarily: (a) for the purpose of complying with or conforming to present or future laws governing or regulating the maintenance or operation of the Plan or similar plans, in any jurisdiction in which invitations under the Plan have been made; (b) to correct any manifest error or mistake; or (c) to take into consideration possible adverse tax implications in respect of the Plan arising from, amongst others, adverse rulings, changes to tax legislation or changes in the interpretation of tax legislation by a court of competent jurisdiction.

Appears in 4 contracts

Sources: Performance Rights Plan, Performance Rights Plan, Performance Rights Plan