Common use of Adjustments in Option Clause in Contracts

Adjustments in Option. In the event that the outstanding shares of Common Stock subject to the Option are changed into or exchanged for a different number or kind of shares of the Company or other securities of the Company by reason of merger, consolidation, recapitalization, reclassification, stock split up, stock dividend or combination of shares, the Board shall make an appropriate and equitable adjustment in the number and kind of shares as to which the Option, or portions thereof then unexercised, shall be exercisable. Such adjustment in the Option shall be made without change in the total price applicable to the unexercised portion of the Option (except for any change in the aggregate price resulting from rounding-off of share quantities or prices) and with any necessary corresponding adjustment in the Option price per share. Any such adjustment made by the Board shall be final and binding upon the Employee, the Company and all other interested persons.

Appears in 3 contracts

Samples: Agreement (Daisytek International Corporation /De/), Agreement (Daisytek International Corporation /De/), Agreement (Daisytek International Corporation /De/)

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Adjustments in Option. In the event that the outstanding shares of Common Stock subject to the Option are changed into or exchanged for a different number or kind of shares of the Company or other securities of the Company by reason of merger, consolidation, recapitalization, reclassification, stock split up, stock dividend or combination of shares, the Board shall make an appropriate and equitable adjustment in the number and kind of shares as to which the Option, or portions thereof then unexercised, shall be exercisable. Such adjustment in the Option shall be made without change in the total price applicable to the unexercised portion of the Option (except for any change in the aggregate price resulting from rounding-off of share quantities or prices) and with any necessary corresponding adjustment in the Option price per share. Any such adjustment made by the Board shall be final and binding upon the EmployeeDirector, the Company and all other interested persons.

Appears in 3 contracts

Samples: Agreement (Daisytek International Corporation /De/), Agreement (Daisytek International Corporation /De/), Agreement (Daisytek International Corporation /De/)

Adjustments in Option. In (a) Subject to the limitation of subsection 3(b) below, in the event that the outstanding shares of Common Stock stock subject to the Option are changed into or exchanged for a different number or kind of shares of the Company or other securities of the Company by reason of merger, consolidation, recapitalization, reclassification, stock split upsplit, stock dividend or combination of shares, the Board shall make an appropriate shares subject to the Option and equitable adjustment in the number and kind of shares as to which the Option, or portions thereof then unexercised, price per share shall be exercisableequitably adjusted to reflect such changes. Such adjustment in the Option shall be made without change in the total price applicable to the unexercised portion of the Option (except for any change in the aggregate price resulting from rounding-off of share quantities or prices) and with any necessary corresponding adjustment in the Option price per share. Any such adjustment made by the Board Committee shall be final and binding upon the EmployeeRecipient, the Company and all other interested persons.

Appears in 2 contracts

Samples: Nonqualified Stock Option Agreement (Kos Pharmaceuticals Inc), Nonqualified Stock Option Agreement (Kos Pharmaceuticals Inc)

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Adjustments in Option. In the event that the outstanding shares of Common Stock subject to the Option are changed into or exchanged for a different number or kind of shares of the Company or other securities of the Company by reason of merger, consolidation, recapitalization, reclassification, stock split up, stock dividend or combination of shares, the Board shall make an 2 appropriate and equitable adjustment in the number and kind of shares as to which the Option, or portions thereof then unexercised, shall be exercisable. Such adjustment in the Option shall be made without change in the total price applicable to the unexercised portion of the Option (except for any change in the aggregate price resulting from rounding-off of share quantities or prices) and with any necessary corresponding adjustment in the Option price per share. Any such adjustment made by the Board shall be final and binding upon the EmployeeDirector, the Company and all other interested persons.

Appears in 1 contract

Samples: Agreement (Daisytek International Corporation /De/)

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