Restructuring or Reorganization Sample Clauses
The Restructuring or Reorganization clause defines the rights and obligations of the parties in the event that one party undergoes significant changes to its corporate structure, such as mergers, acquisitions, or internal reorganizations. Typically, this clause outlines notification requirements, the need for consent from the other party, or the automatic assignment of contractual rights and obligations to the new entity. Its core function is to ensure continuity and clarity in contractual relationships, preventing disputes or disruptions that could arise from changes in a party’s corporate structure.
Restructuring or Reorganization. If, as the result of a stock split, stock dividend, combination of shares or any other change, including an exchange of securities for any reason, the Participant shall be entitled to new or additional or different shares of stock or securities, such stock or securities shall be subject to the terms and conditions of the Plan and this Agreement.