Common use of Profit Limitation Clause in Contracts

Profit Limitation. (a) Notwithstanding any other provision of this Agreement, in no event shall the Grantee's Total Profit exceed the Profit Cap and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Company for cancellation Option Shares previously purchased by Grantee, (ii) pay cash or other consideration to the Company, (iii) reduce the amount of the fee payable to Grantee under Section 9.5 of the Merger Agreement or (iv) undertake any combination thereof, so that the Grantee's Total Profit shall not exceed the Profit Cap after taking into account the foregoing actions.

Appears in 4 contracts

Samples: Stock Option Agreement (Baker Hughes Inc), Stock Option Agreement (Baker Hughes Inc), Stock Option Agreement (Pennzenergy Co)

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Profit Limitation. (a) Notwithstanding any other provision of this Agreement, in no event shall the Grantee's Total Profit exceed the Profit Cap and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Company for cancellation Option Shares previously purchased by Grantee, (ii) pay cash or other consideration to the Company, (iii) reduce the amount of the fee payable to Grantee under Section 9.5 8.5 of the Merger Agreement or (iv) undertake any combination thereof, so that the Grantee's Total Profit shall not exceed the Profit Cap after taking into account the foregoing actions.

Appears in 3 contracts

Samples: Stock Option Agreement (Santa Fe Snyder Corp), Agreement and Plan of Merger (Santa Fe Snyder Corp), Stock Option Agreement (Santa Fe Snyder Corp)

Profit Limitation. (a) Notwithstanding any other provision of this Agreement, Agreement in no event shall the Grantee's Total Profit exceed the Profit Cap and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Company for cancellation Shares (or other securities into which such Option Shares are converted or exchanged) previously purchased by Grantee, (ii) pay cash or other consideration to the Company, (iii) reduce the amount number of Shares subject to the fee payable to Grantee under Section 9.5 of the Merger Agreement Option or (iv) undertake any combination thereof, so that the Grantee's Total Profit shall not exceed the Profit Cap after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Stock Option Agreement (Upm Kymmene Corp), Stock Option Agreement (Champion International Corp)

Profit Limitation. (a) Notwithstanding any other provision of this Agreement, in no event shall the Grantee's Total Profit exceed the Profit Cap and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Company UPR for cancellation UPR Stock Option Shares previously purchased by Grantee, (ii) pay cash or other consideration to the CompanyUPR, (iii) reduce the amount of the fee payable to Grantee under Section 9.5 7.5(a) of the Merger Agreement or (iv) undertake any combination thereof, so that the Grantee's Total Profit shall not exceed the Profit Cap after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Stock Option Agreement (Anadarko Petroleum Corp), Stock Option Agreement (Union Pacific Resources Group Inc)

Profit Limitation. (a) Notwithstanding any other provision of this Agreement, Agreement in no event shall the Grantee's Total Profit exceed the Profit Cap and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Company for cancellation Option Shares previously purchased by Grantee, (ii) pay cash or other consideration to the Company, (iiiii) reduce the amount number of Shares subject to the fee payable to Grantee under Section 9.5 of the Merger Agreement Option or (iviii) undertake any combination thereof, so that the Grantee's Total Profit shall not exceed the Profit Cap after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Parent Stock Option Agreement (Champion International Corp), Parent Treasury Stock Option Agreement (Champion International Corp)

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Profit Limitation. (a) Notwithstanding any other provision of this Agreement, in no event shall the Grantee's =s Total Profit (as hereinafter defined) exceed $5 million (the "Profit Cap Limit") and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Company Grantor for cancellation Option Shares previously purchased by Grantee, (ii) pay cash or other consideration to the CompanyGrantor, (iii) reduce the amount of the receive a smaller termination fee payable to Grantee under Section 9.5 8.3 of the Merger Agreement or (iv) undertake any combination thereof, so that the Grantee's =s Total Profit shall not exceed the Profit Cap Limit after taking into account the foregoing actions.

Appears in 1 contract

Samples: Stock Option Agreement (Prodigy Communications Corp)

Profit Limitation. (a) Notwithstanding any other provision of this Agreement, in no event shall the Grantee's Total Profit exceed the Profit Cap and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Company Issuer for cancellation Option Shares previously purchased by Grantee, (ii) pay cash or other consideration to the CompanyIssuer, (iii) reduce the amount of the fee payable to Grantee under Section 9.5 of the Merger Agreement or (iv) undertake any combination thereof, so that the Grantee's Total Profit shall not exceed the Profit Cap after taking into account the foregoing actions.

Appears in 1 contract

Samples: Stock Option Agreement (Circle International Group Inc /De/)

Profit Limitation. (a) a. Notwithstanding any other provision of this Agreement, in no event shall the Grantee's Total Profit exceed the Profit Cap and, if it otherwise would exceed such amount, the Grantee, at its sole election, shall either (i) deliver to the Company Issuer for cancellation Option Shares previously purchased by Grantee, (ii) pay cash or other consideration to the CompanyIssuer, (iii) reduce the amount of the fee payable to Grantee under Section 9.5 of the Merger Agreement or (iv) undertake any combination thereof, so that the Grantee's Total Profit shall not exceed the Profit Cap after taking into account the foregoing actions.

Appears in 1 contract

Samples: Stock Option Agreement (Egl Inc)

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