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W.W. Grainger (GWW)
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GWW » Topics » Duration of the Plan.

These excerpts taken from the GWW 10-Q filed Aug 2, 2006.
Duration of the Plan. The Plan became effective on April 30, 1997 (the “Effective Date”). Subject to the right of the Board to amend or terminate the Plan pursuant to Article 14, (i) Awards may be granted from time to time on or after the Effective Date so long as Shares reserved for delivery under Section 4.1 remain available and (ii) Compensation earned by the Outside Directors from time to time after the Effective Date may be deferred.

 

1.3 Duration of this Plan. Unless sooner terminated as provided herein, this Plan shall terminate ten (10) years from the Effective Date. After this Plan is terminated, no Awards may be granted but Awards previously granted shall remain outstanding in accordance with their applicable terms and conditions and this Plan’s terms and conditions.

 

EXCERPTS ON THIS PAGE:

10-Q (2 sections)
Aug 2, 2006

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