These excerpts taken from the TAYC 10-K filed Mar 11, 2009.
AMENDMENT AND TERMINATION
6.1 Amendment or Termination. The Board (or any Committee of the Board to which the board has delegated this authority in writing) may amend or terminate this Plan at any time, including amending the eligibility to participate in the Plan of employees who are not existing Participants; provided, that this Plan may not be amended or terminated in a manner that reduces the amounts or types of benefits made available under the Plan, or otherwise materially adversely affects the rights of Participants under the Plan as of the date of the amendment or termination without two (2) years advance written notice of such amendment or termination (including modifying the eligibility of employees who are already Participants to participate in the Plan).
6.2 Procedure for Extension, Amendment or Termination. Any amendment or termination of this Plan by the Board (or by any duly authorized committee of the Board) in accordance with this Article VI shall be made by action of the Board (or such committee) in accordance with the Companys charter and by-laws and applicable law.
Amendment and Termination
The Company reserves the right, on a case-by-case basis or on a general basis, to amend the Plan at any time and to alter, reduce or eliminate any benefit under the Plan (in whole or in part) at any time, or to terminate the Plan at any time in its entirety or as to any class or classes of covered Employees (including former or retired Employees), without prior notice. Any amendment or termination of the Plan by the Company shall be made in accordance with the procedures set forth in subsection 8.7. Any changes or modifications to the benefits payable to a separating Participant from the benefits provided in this Plan, without amendment of the Plan as described above in this subsection 9.1, must be approved, in writing, by the Group Senior Vice President of Human Capital of the Company or the President of the Company.
Participants will be notified of any material amendment or termination of the Plan within a reasonable time in accordance with applicable law.
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IN WITNESS WHEREOF, the undersigned duly authorized member of the Compensation Committee of the Board has caused the foregoing Plan to be executed on behalf of the Company this 29th day of December, 2008.