AutoNation 1998 Annual Report Download - page 98

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(c) NO LIMITATIONS ON CORPORATION. The grant of an Option pursuant to
the Plan shall not affect or limit in any way the right or power of Republic to
make adjustments, reclassifications, reorganizations or changes of its capital
or business structure or to merge, consolidate, dissolve or liquidate, or to
sell or transfer all or any part of its business or assets.
18. DISCLAIMER OF RIGHTS
No provision in the Plan or in any Option granted or Option Agreement
entered into pursuant to the Plan shall be construed to confer upon any
individual the right to remain in the employ of Republic, any Subsidiary, any
spin-off corporation or Affiliate, or to interfere in any way with the right and
authority of Republic, any Subsidiary, any spinoff corporation or Affiliate
either to increase or decrease the compensation of any individual at any time,
or to terminate any employment or other relationship between any individual and
Republic, any Subsidiary, any spin-off corporation or Affiliate.
19. NON-EXCLUSIVITY OF THE PLAN
Neither the adoption of the Plan nor the submission of the Plan to the
stockholders of Republic for approval shall be construed as creating any
limitations upon the right and authority of the Board to adopt such other
incentive compensation arrangements (which arrangements may be applicable either
generally to a class or classes of individuals or specifically to a particular
individual or individuals) as the Board in its discretion determines desirable,
including, without limitation, the granting of stock options or stock
appreciation rights otherwise than under the Plan.
This Plan was duly adopted and approved by the Board of Directors of
Republic effective as of the 2nd day of January, 1997, subject to approval and
adoption by the stockholders of Republic.
/s/ Richard L. Handley
--------------------------------
Secretary of Republic
This Plan was duly approved and adopted by the stockholders of Republic
at a meeting held the 13th day of May, 1997.
/s/ Richard L. Handley
--------------------------------
Secretary of Republic
This Plan was duly amended by the Board of Directors of Republic
effective as of the 2nd day of November, 1998.
/s/ James O. Cole
--------------------------------
Secretary of Republic
This Plan was duly amended by the Board of Directors of Republic
effective as of the 6th day of January, 1999.
/s/ James O. Cole
--------------------------------
Secretary of Republic