Common use of ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE Clause in Contracts

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In the event of any change in the Stock through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate adjustments shall be made in the number, Exercise Price and class of shares subject to the Option. If a majority of the shares which are of the same class as the shares that are subject to the Option are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the event of any such amendment, the Number of Option Shares and the Exercise Price shall be adjusted in a fair and equitable manner, as determined by the Committee, in its discretion. Notwithstanding the foregoing, any fractional share resulting from an adjustment pursuant to this Section 10 shall be rounded down to the nearest whole number, and in no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock subject to the Option. The adjustments determined by the Committee pursuant to this Section 10 shall be final, binding and conclusive.

Appears in 5 contracts

Samples: Nonstatutory Stock Option Agreement (Adobe Systems Inc), Nonstatutory Stock Option Agreement (Adobe Systems Inc), Nonstatutory Stock Option Agreement (Adobe Systems Inc)

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ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In the event of any change in the Stock through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate adjustments shall be made in the number, Exercise Price and class of shares subject to the Option. If a majority of the shares which are of the same class as the shares that are subject to the Option are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the event of any such amendment, the Number of Option Shares and the Exercise Price shall be adjusted in a fair and equitable manner, as determined by the Committee, in its discretion. Notwithstanding the foregoing, any fractional share resulting from an adjustment pursuant to this Section 10 9 shall be rounded down to the nearest whole number, and in no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock subject to the Option. The adjustments determined by the Committee pursuant to this Section 10 9 shall be final, binding and conclusive.

Appears in 3 contracts

Samples: Nonstatutory Stock Option Agreement (Adobe Systems Inc), Nonstatutory Stock Option Agreement (Adobe Systems Inc), Nonstatutory Stock Option Agreement (Adobe Systems Inc)

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In Subject to any required action by the shareholders of the Company and the requirements of applicable law or regulation, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock share dividend, stock share split, reverse stock share split, split-up, split-off, spin-off, combination of shares, exchange of shares shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders shareholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number, Exercise Price and class kind of shares subject to the Option, in order to prevent dilution or enlargement of the Participant’s rights under the Option. For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.” If a majority of the shares which are of the same class as the shares that are subject to the Option are exchanged by whatever means for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee Board may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the event of any such amendment, the Number number of Option Shares shares subject to, and the Exercise Price exercise or purchase price per share of, the Option shall be adjusted in a fair and equitable manner, manner as determined by the CommitteeBoard, in its discretion. Notwithstanding the foregoing, any Any fractional share resulting from an adjustment pursuant to this Section 10 shall be rounded down to the nearest whole number, and in the Exercise Price shall be rounded up to the nearest whole cent. In no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock shares of Stock subject to the Option. The Such adjustments shall be determined by the Committee pursuant to this Section 10 Board, and its determination shall be final, binding and conclusive.

Appears in 3 contracts

Samples: Stock Option Agreement (AMCI Acquisition Corp. II), Stock Option Agreement (AMCI Acquisition Corp. II), Stock Option Agreement (AMCI Acquisition Corp. II)

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In Subject to any required action by the shareholders of the Company and the requirements of Section 409A of the Code to the extent applicable, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders shareholders of the Company in a form other than Stock (excepting normal other than regular, periodic cash dividendsdividends paid on Stock pursuant to the Company’s dividend policy) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number, Exercise Price and class number of shares Units subject to the Option. If a majority Award and/or the number and kind of shares or other property to be issued in settlement of the shares which are Award, in order to prevent dilution or enlargement of the same class Participant’s rights under the Award. For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the shares that are Company.” Any and all new, substituted or additional securities or other property (other than regular, periodic cash dividends paid on Stock pursuant to the Company’s dividend policy) to which the Participant is entitled by reason of ownership of Units acquired pursuant to this Award will be immediately subject to the Option are exchanged for, converted into, provisions of this Award on the same basis as all Units originally acquired hereunder. Any fractional Unit or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the event of any such amendment, the Number of Option Shares and the Exercise Price shall be adjusted in a fair and equitable manner, as determined by the Committee, in its discretion. Notwithstanding the foregoing, any fractional share resulting from an adjustment pursuant to this Section 10 shall be rounded down to the nearest whole number, and in no event may the Exercise Price . Such adjustments shall be decreased to an amount less than the par value, if any, of the stock subject to the Option. The adjustments determined by the Committee pursuant to this Section 10 Committee, and its determination shall be final, binding and conclusive.

Appears in 2 contracts

Samples: Performance Units Agreement (Adaptive Biotechnologies Corp), Restricted Stock Units Agreement (Adaptive Biotechnologies Corp)

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In Subject to any required action by the shareholders of the Company and the requirements of applicable law or regulation, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock share dividend, stock share split, reverse stock share split, split-up, split-off, spin-off, combination of shares, exchange of shares shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders shareholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number, Exercise Price and class kind of shares subject to the Option, in order to prevent dilution or enlargement of the Participant’s rights under the Option. For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.” If a majority of the shares which are of the same class as the shares that are subject to the Option are exchanged by whatever means for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee Board may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the event of any such amendment, the Number number of Option Shares shares subject to, and the Exercise Price exercise or purchase price per share of, the Option shall be adjusted in a fair and equitable manner, manner as determined by the CommitteeBoard, in its discretion. Notwithstanding the foregoing, any Any fractional share resulting from an adjustment pursuant to this Section 10 shall be rounded down to the nearest whole number, and in the Exercise Price shall be rounded up to the nearest whole cent. In no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock shares of Stock subject to the Option. The Such adjustments shall be determined by the Committee pursuant to this Section 10 Board, and its determination shall be final, binding and conclusive.

Appears in 2 contracts

Samples: Stock Option Agreement (AMCI Acquisition Corp. II), Stock Option Agreement (AMCI Acquisition Corp. II)

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In Subject to any required action by the shareholders of the Company, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders shareholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number, Exercise Price and class of shares of stock subject to the Option. If a majority of the shares which are of the same class as the shares that are subject to the Option are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee Board may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the event of any such amendment, the Number of Option Shares and the Exercise Price shall be adjusted in a fair and equitable manner, as determined by the CommitteeBoard, in its discretion. Notwithstanding the foregoing, any fractional share resulting from an adjustment pursuant to this Section 10 9 shall be rounded down to the nearest whole number, and in no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock subject to the Option. The adjustments determined by the Committee Board pursuant to this Section 10 9 shall be final, binding and conclusive.

Appears in 2 contracts

Samples: Stock Option Agreement (Iveda Solutions, Inc.), Stock Option Agreement (Emulate Therapeutics, Inc.)

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In Subject to any required action by the stockholders of the Company and the requirements of Section 409A of the Code to the extent applicable, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal other than regular, periodic cash dividendsdividends paid on Stock pursuant to the Company’s dividend policy) that has a material effect on the Fair Market Value of shares of Stock, appropriate adjustments shall be made in the numberCommittee shall, Exercise Price and class of shares subject to the Option. If a majority of the shares which are of the same class as the shares that are subject to the Option are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the event of any such amendment, the Number of Option Shares and the Exercise Price shall be adjusted in a fair and equitable manner, as determined extent deemed appropriate by the Committee, make adjustments in its discretionthe number of Units subject to the Award and/or the number and kind of shares or other property to be issued in settlement of the Award, in order to prevent dilution or enlargement of the Participant’s rights under the Award. Notwithstanding For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.” Any and all new, substituted or additional securities or other property (other than regular, periodic cash dividends paid on Stock pursuant to the Company’s dividend policy) to which the Participant is entitled by reason of ownership of Units acquired pursuant to this Award will be immediately subject to the provisions of this Award on the same basis as all Units originally acquired hereunder. Any fractional Unit or share resulting from an adjustment pursuant to this Section 10 shall be rounded down to the nearest whole number, and in no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock subject to the Option. The adjustments determined by the Committee All determinations pursuant to this Section 10 shall be made by the Committee and shall be final, binding and conclusive.

Appears in 2 contracts

Samples: Restricted Stock Units Agreement (PARTS iD, Inc.), Performance Units Agreement (PARTS iD, Inc.)

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In Subject to any required action by the stockholders of the Company, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number, Exercise Price and class kind of shares subject to the Option. If a majority , in order to prevent dilution or enlargement of the shares which are Participant's rights under the Option. For purposes of the same class as the shares that are subject to the Option are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the event of any such amendment, the Number of Option Shares and the Exercise Price shall be adjusted in a fair and equitable manner, as determined by the Committee, in its discretion. Notwithstanding the foregoing, conversion of any convertible securities of the Company shall not be treated as "effected without receipt of consideration by the Company." Any fractional share resulting from an adjustment pursuant to this Section 10 shall be rounded down to the nearest whole number, and in no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock subject to the Option. The Committee in its sole discretion, may also make such adjustments in the terms of the Option to reflect, or related to, such changes in the capital structure of the Company or distributions as it deems appropriate. The adjustments determined by the Committee pursuant to this Section 10 shall be final, binding and conclusive.

Appears in 1 contract

Samples: Stock Option Agreement (PROS Holdings, Inc.)

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In the event of any change in the Stock through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate adjustments shall be made in the number, Exercise Price and class of shares subject to the Option. If a majority of the shares which are of the same class as the shares that are subject to the Option are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the event of any such amendment, the Number of Option Shares and the Exercise Price shall be adjusted in a fair and equitable manner, as determined by the Committee, in its discretion. Notwithstanding the foregoing, any fractional share resulting from an adjustment pursuant to this Section 10 9 [10] shall be rounded down to the nearest whole number, and in no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock subject to the Option. The adjustments determined by the Committee pursuant to this Section 10 9 [10] shall be final, binding and conclusive.

Appears in 1 contract

Samples: Stock Option Agreement (Adobe Systems Inc)

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In Subject to any required action by the shareholders of the Company, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders shareholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number, Exercise Price number and class of shares subject to the OptionPlan and to any outstanding Options, in the ISO Share Issuance Limit set forth in Section 4.1, and in the exercise price per share of any outstanding Options. If a majority of the shares which are of the same class as the shares that are subject to the Option outstanding Options are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event, as defined in Section 8.1) shares of another corporation (the “New Shares”), the Committee Board may unilaterally amend the Option outstanding Options to provide that the Option is such Options are exercisable for New Shares. In the event of any such amendment, the Number number of Option Shares shares subject to, and the Exercise Price exercise price per share of, the outstanding Options shall be adjusted in a fair and equitable manner, manner as determined by the CommitteeBoard, in its discretion. Notwithstanding the foregoing, any fractional share resulting from an adjustment pursuant to this Section 10 4.2 shall be rounded down to the nearest whole number, and in no event may the Exercise Price exercise price of any Option be decreased to an amount less than the par value, if any, of the stock subject to the Option. The adjustments determined by the Committee Board pursuant to this Section 10 4.2 shall be final, binding and conclusive.

Appears in 1 contract

Samples: Merger Agreement (Charmed Homes Inc.)

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ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In Subject to any required action by the shareholders of the Company and the requirements of applicable law or regulation, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock share dividend, stock share split, reverse stock share split, split-up, split-off, spin-off, combination of shares, exchange of shares shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders ​ shareholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number, Exercise Price and class kind of shares subject to the Option, in order to prevent dilution or enlargement of the Participant’s rights under the Option. For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.” If a majority of the shares which are of the same class as the shares that are subject to the Option are exchanged by whatever means for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee Board may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the event of any such amendment, the Number number of Option Shares shares subject to, and the Exercise Price exercise or purchase price per share of, the Option shall be adjusted in a fair and equitable manner, manner as determined by the CommitteeBoard, in its discretion. Notwithstanding the foregoing, any Any fractional share resulting from an adjustment pursuant to this Section 10 shall be rounded down to the nearest whole number, and in the Exercise Price shall be rounded up to the nearest whole cent. In no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock shares of Stock subject to the Option. The Such adjustments shall be determined by the Committee pursuant to this Section 10 Board, and its determination shall be final, binding and conclusive.

Appears in 1 contract

Samples: Stock Option Agreement (AMCI Acquisition Corp. II)

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In the event of any change in the Stock through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-uprecapitalization, split-offcombination, spin-offreclassification, combination of shares, exchange of shares or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate adjustments shall be made in the numberNumber of Warrant Shares, Exercise Price and class of shares of stock subject to the Optionthis Warrant. If a majority of the shares which are of the same class as the shares that are subject to the Option this Warrant are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”"NEW SHARES"), the Committee Board may unilaterally amend the Option this Warrant to provide that the Option this Warrant is exercisable for the New Shares. In the event of any such amendment, the Number of Option Warrant Shares and the Exercise Price shall be adjusted in a fair and equitable manner, as determined by the CommitteeBoard, in its sole discretion. Notwithstanding the foregoing, any fractional share resulting from an adjustment pursuant to this Section 10 9 shall be rounded down to the nearest whole number, and in no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock subject to the Optionthis Warrant. The adjustments determined by the Committee Board pursuant to this Section 10 9 shall be final, binding and conclusive.

Appears in 1 contract

Samples: Santarus Inc

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In Subject to any required action by the stockholders of the Company, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of Stock, appropriate adjustments shall be made in the number, Exercise Price and class kind of shares subject to the Option, in order to prevent dilution or enlargement of the Participant’s rights under the Option. For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.” If a majority of the shares which are of the same class as the shares that are subject to the Option are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee may unilaterally amend the Option to provide that the such Option is exercisable for New Shares. In the event of any such amendment, the Number number of Option Shares shares subject to, and the Exercise Price exercise price per share of, the Option shall be adjusted in a fair and equitable manner, manner as determined by the CommitteeBoard, in its discretion. Notwithstanding the foregoing, any Any fractional share resulting from an adjustment pursuant to this Section 10 shall be rounded down to the nearest whole number, and in no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock subject to the Option. The Committee in its sole discretion, may also make such adjustments in the terms of the Option to reflect, or related to, such changes in the capital structure of the Company or distributions as it deems appropriate. The adjustments determined by the Committee pursuant to this Section 10 shall be final, binding and conclusive.

Appears in 1 contract

Samples: Stock Option Agreement (Halozyme Therapeutics Inc)

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In Subject to any required action by the stockholders of the Company and the requirements of Section 409A of the Code to the extent applicable, in the event of any change in the Stock effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders of the Company in a form other than Stock (excepting normal other than regular, periodic cash dividendsdividends paid on Stock pursuant to the Company’s dividend policy) that has a material effect on the Fair Market Value of shares of Stock, appropriate and proportionate adjustments shall be made in the number, Exercise Price and class number of shares RSUs subject to the Option. If a majority Award and/or the number and kind of shares or other property to be issued in settlement of the shares which are Award, in order to prevent dilution or enlargement of the same class Participant’s rights under the Award. For purposes of the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the shares that are Company.” Any and all new, substituted or additional securities or other property (other than regular, periodic cash dividends paid on Stock pursuant to the Company’s dividend policy) to which the Participant is entitled by reason of ownership of RSUs acquired pursuant to an Award will be immediately subject to the Option are exchanged for, converted into, provisions of this Award on the same basis as all RSUs originally acquired hereunder. Any fractional RSU or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the event of any such amendment, the Number of Option Shares and the Exercise Price shall be adjusted in a fair and equitable manner, as determined by the Committee, in its discretion. Notwithstanding the foregoing, any fractional share resulting from an adjustment pursuant to this Section 10 Paragraph shall be rounded down to the nearest whole number, and in no event may the Exercise Price . Such adjustments shall be decreased to an amount less than the par value, if any, of the stock subject to the Option. The adjustments determined by the Committee pursuant to this Section 10 Board, and its determination shall be final, binding and conclusive.

Appears in 1 contract

Samples: Award Agreement

ADJUSTMENTS FOR CHANGES IN CAPITAL STRUCTURE. In Subject to any required action by the shareholders of the Company [NTD: Include this language only for U.S. Participants: and the requirements of Sections 409A and 424 of the Code] to the extent applicable, in the event of any change in the Stock Common Shares effected without receipt of consideration by the Company, whether through merger, consolidation, reorganization, reincorporation, recapitalization, reclassification, stock dividend, stock split, reverse stock split, split-up, split-off, spin-off, combination of shares, exchange of shares shares, or similar change in the capital structure of the Company, or in the event of payment of a dividend or distribution to the stockholders shareholders of the Company in a form other than Stock Common Shares (excepting normal cash dividends) that has a material effect on the Fair Market Value of shares of StockCommon Shares, appropriate and proportionate adjustments shall be made in the number, Exercise Price and class kind of shares subject to the Option. If a majority , in order to prevent dilution or enlargement of the shares which are Participant’s rights under the Option. For purposes of the same class as the shares that are subject to the Option are exchanged for, converted into, or otherwise become (whether or not pursuant to an Ownership Change Event) shares of another corporation (the “New Shares”), the Committee may unilaterally amend the Option to provide that the Option is exercisable for New Shares. In the event of any such amendment, the Number of Option Shares and the Exercise Price shall be adjusted in a fair and equitable manner, as determined by the Committee, in its discretion. Notwithstanding the foregoing, conversion of any convertible securities of the Company shall not be treated as “effected without receipt of consideration by the Company.” Any fractional share resulting from an adjustment pursuant to this Section 10 shall be rounded down to the nearest whole number, number and in the Exercise Price shall be rounded up to the nearest whole cent. In no event may the Exercise Price be decreased to an amount less than the par value, if any, of the stock subject to the Option. The Committee in its sole discretion, may also make such adjustments determined by in the Committee terms of the Option to reflect, or related to, such changes in the capital structure of the Company or distributions as it deems appropriate. All adjustments pursuant to this Section 10 shall be determined by the Committee, and its determination shall be final, binding and conclusive.

Appears in 1 contract

Samples: Stock Option Agreement (Quipt Home Medical Corp.)

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