SPAB » Topics » 26. Severability

This excerpt taken from the SPAB 8-K filed Jan 13, 2009.
26.          Severability. It is the desire of the Parties hereto that this Agreement be enforced to the maximum extent permitted by law, and should any provision or any portion thereof contained herein be held unenforceable by a court of competent jurisdiction or arbitrator (pursuant to Section 29), the parties hereby agree and consent that

 

 

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such provision or portion thereof shall be reformed to create a valid and enforceable provision to the maximum extent permitted by law; provided, however, if such provision cannot be reformed, it shall be deemed ineffective and deleted herefrom without affecting any other provision of this Agreement. This Agreement should be construed by limiting and reducing it only to the minimum extent necessary to be enforceable under then applicable law.

 

These excerpts taken from the SPAB 8-K filed Nov 21, 2008.
26.          Severability. It is the desire of the Parties hereto that this Agreement be enforced to the maximum extent permitted by law, and should any provision or any portion thereof contained herein be held unenforceable by a court of competent jurisdiction or arbitrator (pursuant to Section 29), the parties hereby agree and consent that such provision or portion thereof shall be reformed to create a valid and enforceable provision to the maximum extent permitted by law; provided, however, if such provision cannot be reformed, it shall be deemed ineffective and deleted herefrom without affecting any

 

 

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other provision of this Agreement. This Agreement should be construed by limiting and reducing it only to the minimum extent necessary to be enforceable under then applicable law.

 

26.          Severability. It is the desire of the Parties hereto that this Agreement be enforced to the maximum extent permitted by law, and should any provision or any portion thereof contained herein be held unenforceable by a court of competent jurisdiction or arbitrator (pursuant to Section 29), the parties hereby agree and consent that such provision or portion thereof shall be reformed to create a valid and enforceable provision to the maximum extent permitted by law; provided, however, if such provision cannot be reformed, it shall be deemed ineffective and deleted herefrom without affecting any other provision of this Agreement. This Agreement should be construed by limiting and reducing it only to the minimum extent necessary to be enforceable under then applicable law.

 

 

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This excerpt taken from the SPAB DEF 14A filed Mar 3, 2008.

7.16        Severability

 

In the event that any provision of this Plan shall be held illegal, invalid or unenforceable for any reason, such provision shall be fully severable, but shall not affect the remaining provisions of the Plan, and the Plan shall be construed and enforced as if the illegal, invalid, or unenforceable provision was not included herein.

 

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