SCBT » Topics » AMENDMENT AND TERMINATION

This excerpt taken from the SCBT 8-K filed Apr 30, 2009.

AMENDMENT AND TERMINATION

 

8.1                               Amendment.

 

The Committee shall have the right to amend or modify the Plan, in full or in part, at any time and from time to time; provided, however, that no amendment or modification shall:

 

(a)                                Affect any right or obligation with respect to any grant theretofore made, unless required by law, or

 

(b)                               Unless previously approved by the shareholders of SCBT Financial (where such approval is necessary to satisfy then applicable requirements of federal securities

 

10



 

laws, the Code, or rules of any stock exchange or market on which SCBT Financial’s Common Stock is listed):

 

(i)                                   in any manner materially affect the eligibility requirements set forth in Sections 3.1 and 3.2,
 
(ii)                                increase the number of shares of Common Stock available for issuance under the Plan (except as provided in Section 4.2), or
 
(iii)                             materially increase the benefits to Participants under the Plan.
 

8.2                               Termination.

 

The Committee may terminate the Plan at any time in its sole and absolute discretion.  Upon termination of the Plan, the Administrator shall give notice thereof to Participants and shall terminate all payroll deductions.  Cash balances in Participants’ accounts shall be refunded promptly.

 

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki