HTZ » Topics » ARTICLE VII AMENDMENT, TERMINATION AND DURATION

This excerpt taken from the HTZ 10-Q filed Nov 7, 2008.

ARTICLE VII

AMENDMENT, TERMINATION AND DURATION

 

Section 7.01           Amendment, Suspension and Termination.  Except as otherwise provided in this Section 7.01, the Board or the Committee or the delegee of the Board or the Committee shall have the right, at any time and from time to time, to amend, suspend or terminate the Plan in whole or in part, for any reason or without reason, and without either the consent of or the prior notification to any Participant, by a formal written action.  No such amendment shall give the Company the right to recover any amount paid to a Participant prior to the date of such amendment or to cause the cessation of Severance Benefits already approved for a Participant who has executed a Release as required under Section 3.02.

 

Section 7.02           Duration.  Unless terminated sooner by the Board or the Committee or the delegee of the Board or the Committee in accordance with Section 7.01, the Plan shall continue in full force and effect until termination of the Plan pursuant to Section 7.01.

 

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