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Plan Term
Plan Term contract clause examples
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Term of Plan. Subject to stockholder approval in accordance with Section 19, the Plan shall become effective upon its adoption by the Board. Unless sooner terminated under Section 15, it shall continue in effect for a term of ten (10) years from the later of # the effective date of the Plan, or # the earlier of the Board approval or stockholder approval of the most recent amendment to Plan involving an increase in the number of Shares reserved for issuance under the Plan.

This Plan supersedes and replaces all Management Incentive Plans previously issued. It will remain effective for each succeeding year until terminated. The procedure outlined in Section 8 above will be followed with the issuance of this Instruction and whenever a new member comes under its provisions.

Term of Plan. The Plan shall become effective upon its adoption by the Board. It shall continue in effect for ten (10) years, unless sooner terminated under [Section 14] of the Plan.

The Plan will be effective as of January 22, 2016, subject to its approval by the shareholders of the Company and acceptance for filing by the TSX pursuant to section 14.

Long-Term Incentive Plan. In addition to CEO's base Annual Salary and Annual Incentive, CEO shall, (except as otherwise provided in this Agreement), if CEO is employed by USPB through December 25, 2021, CEO shall be paid long-term incentive compensation calculated as described below (referred to as "Long-Term Incentive"):

Term of the Plan. The Plan, as set forth herein, shall become effective on the Effective Date. No Award may be granted hereunder prior to the Effective Date. The Board of Directors may suspend or terminate the Plan at any time. No ISOs may be granted after the tenth anniversary of the earlier of # the date the Plan, as amended and restated herein, is adopted in 2022 by the Board of Directors, or # the date the Plan, as amended and restated herein is approved the stockholders of the Company.

Short-Term Incentive Plan. Throughout the Strategic Advisory Period, Executive will continue to participate in the Company’s Short-Term Incentive Plan for Leadership Team members. Executive’s benefit will continue to be governed by all terms of the Short-Term Incentive Plan. Payment of Executive’s 2022 Short-Term Incentive Plan benefit will occur during April 2023, notwithstanding the fact Executive will not be actively employed on that date. EDCP deferral elections, if applicable, will apply to this payment.

Long-Term Incentive Plan. Executive’s outstanding Durable Model Award, Performance Share Units (“PSUs”) and Performance-Based Restricted Stock Units (“PBRSUs”) will continue to be governed by all terms of the applicable award agreements and the applicable Long-Term Incentive Plan.

Term. The term of this Agreement (the “Term”) shall become effective as of the Effective Date and shall remain in effect until the earliest of:

Term. No ISO may be exercisable on or after the tenth anniversary of the Date of Grant, and no ISO may be granted under this Plan on or after the tenth anniversary of the effective date of this Plan.

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