SNPS » Topics » SECTION 7. RIGHT TO INTERPRET PLAN; AMENDMENT AND TERMINATION.

These excerpts taken from the SNPS 10-K filed Dec 22, 2008.

SECTION 7.    RIGHT TO INTERPRET PLAN; AMENDMENT AND TERMINATION.

        (a)   Exclusive Discretion.    The Plan Administrator shall have the exclusive discretion and authority to establish rules, forms, and procedures for the administration of the Plan, and to construe and interpret the Plan and to decide any and all questions of fact, interpretation, definition, computation or administration arising in connection with the operation of the Plan, including, but not limited to, the eligibility to participate in the Plan and amount of benefits paid under the Plan. The

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rules, interpretations, computations and other actions of the Plan Administrator shall be binding and conclusive on all persons.

        (b)   Amendment or Termination.    The Company reserves the right to amend or terminate this Plan or the benefits provided hereunder at any time; provided, however, that no such amendment or termination shall occur during the period that begins nine (9) months prior to a Change of Control and ends twelve (12) months after such Change of Control as to any Eligible Employee who would be adversely affected by such amendment or termination unless such Eligible Employee consents in writing to such amendment or termination. Any action amending or terminating the Plan shall be in writing and executed by the Chief Executive Officer or General Counsel of the Company.

SECTION 7.    RIGHT TO INTERPRET PLAN; AMENDMENT AND TERMINATION.



        SIZE=2>(a)   Exclusive Discretion.    The Plan Administrator shall have the exclusive discretion and authority to establish
rules, forms, and procedures for the administration of the Plan, and to construe and interpret the Plan and to decide any and all questions of fact, interpretation, definition, computation or
administration arising in connection with the operation of the Plan, including, but not limited to, the eligibility to participate in the Plan and amount of benefits paid under the Plan. The



8









rules,
interpretations, computations and other actions of the Plan Administrator shall be binding and conclusive on all persons.



        SIZE=2>(b)   Amendment or Termination.    The Company reserves the right to amend or terminate this Plan or the benefits
provided hereunder at any time;
provided, however, that no such amendment or termination shall occur during the period that begins nine
(9) months prior to a Change of Control and ends twelve (12) months after such Change of Control as to any Eligible Employee who would be adversely affected by such amendment or
termination unless such Eligible Employee consents in writing to such amendment or termination. Any action amending or terminating the Plan shall be in writing and executed by the Chief Executive
Officer or General Counsel of the Company.




EXCERPTS ON THIS PAGE:

10-K (2 sections)
Dec 22, 2008
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