Common use of Adjustments for Reorganizations, Stock Splits, etc Clause in Contracts

Adjustments for Reorganizations, Stock Splits, etc. If the outstanding shares of the Common Stock of the Company are increased, decreased, changed into or exchanged for a different number or kind of shares or securities of the Company through reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction, an appropriate and proportionate adjustment shall be made in the maximum number and kind of shares or securities receivable upon the exercise of this Option, without change in the aggregate purchase price applicable to the unexercised portion of this Option but with a corresponding adjustment in the price for each share or other unit of any security covered by this Option. Upon the dissolution or liquidation of the Company, or upon a reorganization, merger or consolidation of the Company with one or more corporations as a result of which the Company is not the surviving corporation, or upon the sale of substantially all the property of the Company, the Committee shall provide in writing for appropriate satisfaction of this Option by one or more of the following alternatives to be made in connection with such transaction: (i) the immediate exercisability of this Option (provided that this Option was granted more than six months before such transaction) notwithstanding the provisions of Section 3 hereof, except that this Option may not be exercised for a fraction of a share and no partial exercise of this Option may be for less than (a) one hundred (100) shares or (b) the total number of shares then eligible for exercise if less than one hundred (100) shares; (ii) the assumption of this Option or the substitution therefore of a new option covering the stock of a successor corporation, with appropriate adjustments as to number and kind of shares and prices; (iii) the continuance of the Plan by such successor corporation in which event this Option shall remain in full effect under the terms so provided; or (iv) the payment of an amount in cash or stock, or any combination thereof, in lieu of and in complete satisfaction of this Option.

Adjustments for Reorganizations, Stock Splits, etc. If the outstanding shares of the Common Stock of the Company are increased, decreased, changed into or exchanged for a different number or kind of shares or securities of the Company through reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction, an appropriate and proportionate adjustment shall be made in the maximum number and kind of shares or securities receivable upon the exercise of this Option, without change in the aggregate purchase price applicable to the unexercised portion of this Option but with a corresponding adjustment in the price for each share or other unit of any security covered by this Option. Upon the dissolution or liquidation of the Company, or upon a reorganization, merger or consolidation of the Company with one or more corporations as a result of which the Company is not the surviving corporation, or upon the sale of substantially all the property of the Company, the Committee shall provide in writing for appropriate satisfaction of this Option by one or more of the following alternatives to be made in connection with such transaction: (i) the immediate exercisability of this Option (provided that this Option was granted more than six months before such transaction) notwithstanding the provisions of Section 3 hereof, except that this Option may not be exercised for a fraction of a share and no partial exercise of this Option may be for less than (a) one hundred (100) shares or (b) the total number of shares then eligible for exercise if less than one hundred (100) shares; (ii) the assumption of this Option or the substitution therefore of a new option covering the stock of a successor corporation, with appropriate adjustments as to number and kind of shares and prices; (iii) the continuance of the Plan by such successor corporation in which event this Option shall remain in full effect under the terms so provided; or (iv) the payment of an amount in cash or stock, or any combination thereof, in lieu of and in complete satisfaction of this Option. Adjustments under this paragraph 8 shall be made by the Committee, whose determination as to what adjustments shall be made, and the extent thereof, shall be final, binding and conclusive. No fractional shares of stock shall be issued under the Plan on any such adjustment.

Adjustments for Reorganizations, Stock Splits, etc. If the outstanding shares of the Common Stock of the Company are increased, decreased, changed into or exchanged for a different number or kind of shares or securities of the Company through reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction, an appropriate and proportionate adjustment shall be made in the maximum number and kind of shares or securities receivable upon the exercise of this Option, without change in the aggregate purchase price applicable to the unexercised portion of this Option but with a corresponding adjustment in the price for each share or other unit of any security covered by this Option. Upon the dissolution or liquidation of the Company, or upon a reorganization, merger or consolidation of the Company with one or more corporations as a result of which the Company is not the surviving corporation, or upon the sale of substantially all the property of the Company, the Committee shall provide in writing for appropriate satisfaction of this Option by one or more of the following alternatives to be made in connection with such transaction: (i) the immediate exercisability of this Option (provided that this Option was granted more than six months before such transaction) notwithstanding the provisions of Section 3 hereof, except that this Option may not be exercised for a fraction of a share and no partial exercise of this Option may be for less than (a) one hundred (100) shares or (b) the total number of shares then eligible for exercise if less than one hundred (100) shares; (ii) the assumption of this Option or the substitution therefore of a new option covering Adjustments under this paragraph 8 shall be made by the stock of a successor corporationCommittee, with appropriate adjustments whose determination as to number what adjustments shall be made, and kind the extent thereof, shall be final, binding and conclusive. No fractional shares of shares and prices; (iii) the continuance of stock shall be issued under the Plan by on any such successor corporation in which event this Option shall remain in full effect under the terms so provided; or (iv) the payment of an amount in cash or stock, or any combination thereof, in lieu of and in complete satisfaction of this Optionadjustment.

Adjustments for Reorganizations, Stock Splits, etc. If the outstanding shares of the Common Stock of the Company are increased, decreased, changed into or exchanged for a different number or kind of shares or securities of the Company through reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction, an appropriate and proportionate adjustment shall be made in the maximum number and kind of shares or securities receivable upon the exercise of this Option, without change in the aggregate purchase price applicable to the unexercised portion of this Option but with a corresponding adjustment in the price for each share or other unit of any security covered by this Option. Upon the dissolution or liquidation of the Company, or upon a reorganization, merger or consolidation of the Company with one or more corporations as a result of which the Company is not the surviving corporation, or upon the sale of substantially all the property of the Company, the Committee shall provide in writing for appropriate satisfaction of this Option by one or more of the following alternatives to be made in connection with such transaction: (i) the immediate exercisability of this Option (provided that this Option was granted more than six months before such transaction) notwithstanding the provisions of Section 3 hereof, except that this Option may not be exercised for a fraction of a share and no partial exercise of this Option may be for less than (a) one hundred (100) shares or (b) the total number of shares then eligible for exercise if less than one hundred (100) shares; (ii) the assumption of this Option or the substitution therefore of a new option covering the stock of a successor corporation, with appropriate adjustments as to number and kind of shares and prices; (iii) the continuance of the Plan by such successor corporation in which event this Option shall remain in full effect Adjustments under this paragraph 8 shall be made by the Committee, whose determination as to what adjustments shall be made, and the extent thereof, shall be final, binding and conclusive. No fractional shares of stock shall be issued under the terms so provided; or (iv) the payment of an amount in cash or stock, or Plan on any combination thereof, in lieu of and in complete satisfaction of this Optionsuch adjustment.

Adjustments for Reorganizations, Stock Splits, etc. If the outstanding shares of the Common Stock of the Company are increased, decreased, changed into or exchanged for a different number or kind of shares or securities of the Company through reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction, an appropriate and proportionate adjustment shall be made in the maximum number and kind of shares or securities receivable upon the exercise of this Option, without change in the aggregate purchase price applicable to the unexercised portion of this Option but with a corresponding adjustment in the price for each share or other unit of any security covered by this Option. Upon the dissolution or liquidation of the Company, or upon a reorganization, merger or consolidation of the Company with one or more corporations as a result of which the Company is not the surviving corporation, or upon the sale of substantially all the property of the Company, the Committee shall provide in writing for appropriate satisfaction of this Option by one or more of the following alternatives to be made in connection with such transaction: (i) the immediate exercisability of this Option (provided that this Option was granted more than six months before such transaction) notwithstanding the provisions of Section 3 hereof, except that this Option may not be exercised for a fraction of a share and no partial exercise of this Option may be for less than (a) one hundred (100) shares or (b) the total number of shares then eligible for exercise if less than one hundred (100) shares; (ii) the assumption of this Option or the substitution therefore of a new option covering the stock of a successor corporation, with appropriate adjustments as to number and kind of shares and prices; (iii) the continuance of the Plan by such successor corporation in which event this Option shall remain in full -4- 100 effect under the terms so provided; or (iv) the payment of an amount in cash or stock, or any combination thereof, in lieu of and in complete satisfaction of this Option. Adjustments under this paragraph 8 shall be made by the Committee, whose determination as to what adjustments shall be made, and the extent thereof, shall be final, binding and conclusive. No fractional shares of stock shall be issued under the Plan on any such adjustment.

Adjustments for Reorganizations, Stock Splits, etc. If the outstanding shares of the Common Stock of the Company are increased, decreased, changed into or exchanged for a different number or kind of shares or securities of the Company through reorganization, recapitalization, reclassification, stock dividend, stock split, reverse stock split or other similar transaction, an appropriate and proportionate adjustment shall be made in the maximum number and kind of shares or securities receivable upon the exercise of this Option, without change in the aggregate purchase price applicable to the unexercised portion of this Option but with a corresponding adjustment in the price for each share or other unit of any security covered by this Option. Upon the dissolution or liquidation of the Company, or upon a reorganization, merger or consolidation of the Company with one or more corporations as a result of which the Company is not the surviving corporation, or upon the sale of substantially all the property of the Company, the Committee shall provide in writing for appropriate satisfaction of this Option by one or more of the following alternatives to be made in connection with such transaction: (i) the immediate exercisability of this Option (provided that this Option was granted more than six months before such transaction) notwithstanding the provisions of Section 3 hereof, except that this Option may not be exercised for a fraction of a share and no partial exercise of this Option may be for less than (a) one hundred (100) shares or (b) the total number of shares then eligible for exercise if less than one hundred (100) shares; (ii) the assumption of this Option or the substitution therefore of a new option covering the stock of a successor corporation, with appropriate adjustments as to number and kind of shares and prices; (iii) the continuance of the Plan by such successor corporation in which event this Option shall remain in full effect under the terms so provided; or (iv) the payment of an amount in cash or stock, or any combination thereof, in lieu of and in complete satisfaction of this Option. 188 Adjustments under this paragraph 8 shall be made by the Committee, whose determination as to what adjustments shall be made, and the extent thereof, shall be final, binding and conclusive. No fractional shares of stock shall be issued under the Plan on any such adjustment.