Common use of Share Adjustments Clause in Contracts

Share Adjustments. If there are any changes in the number or value of shares of Common Shares by reason of stock dividends, stock splits, reverse stock splits, recapitalizations, mergers or other events as stated in Article 10 of the LTIP, then proportionate adjustments shall be made to the number of shares of Common Stock (i) issued pursuant to Section 1 and (ii) covered by an unvested grant of restricted stock, in order to prevent dilution or enlargement of rights. This provision does not, however, authorize the delivery of fractional Common Shares under the LTIP.

Appears in 4 contracts

Samples: Restricted Stock Award Agreement (Paccar Inc), Restricted Stock Award Agreement (Paccar Inc), Restricted Stock Award Agreement (Paccar Inc)

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Share Adjustments. If there are any changes in the number or value of shares of Common Shares by reason of stock dividends, stock splits, reverse stock splits, recapitalizations, mergers or other events as stated in Article 10 of the LTIP, LTIP then proportionate adjustments shall be made to the number of shares of Common Stock (i) issued pursuant to Section 1 and (ii) covered by an unvested grant of restricted stock, in order to prevent dilution or enlargement of rights. This provision does not, however, authorize the delivery of fractional Common Shares under the LTIP.

Appears in 3 contracts

Samples: Share Match Restricted Stock Award Agreement (Paccar Inc), Share Match Restricted Stock Award Agreement (Paccar Inc), Share Match Restricted Stock Award Agreement (Paccar Inc)

Share Adjustments. If there are any changes in the number or value of shares of Common Shares by reason of stock dividends, stock splits, reverse stock splits, recapitalizations, mergers or other events as stated in Article 10 of the LTIP, then proportionate the Board of Directors or Committee may make such adjustments shall be made to the number of shares of Common Stock (i) issued pursuant to Section 1 and (ii) covered by an unvested grant of restricted stock, as it deems appropriate in order to prevent dilution or enlargement of rights. This provision does not, however, authorize the delivery of fractional Common Shares under the LTIP.

Appears in 2 contracts

Samples: Share Match Restricted Stock Award Agreement (Paccar Inc), Restricted Stock Award Agreement (Paccar Inc)

Share Adjustments. If there are any changes in the number or value of shares of Common Shares Stock by reason of stock dividends, stock splits, reverse stock splits, recapitalizations, mergers or other events as stated in Article 10 Section 8 of the LTIPPlan, then proportionate adjustments shall be made to the number of shares of Common Stock (i) issued pursuant to Section 1 and (ii) covered by an unvested grant of restricted stock, in order to prevent dilution or enlargement of rights. This provision does not, however, authorize the delivery of a fractional share of Common Shares Stock under the LTIPPlan.

Appears in 1 contract

Samples: Restricted Stock Grant Agreement (Paccar Inc)

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Share Adjustments. If there are any changes in the number or value of shares of Common Shares by reason of stock dividends, stock splits, reverse stock splits, recapitalizations, mergers or other events as stated in Article 10 of the LTIP, then proportionate adjustments shall be made to the number of shares of Common Stock (i) issued pursuant to Section 1 Shares and (ii) covered by an unvested grant of restricted stock, dividend equivalents issuable hereunder in order to prevent dilution or enlargement of rights. This provision does not, however, authorize the delivery of fractional Common Shares under the LTIP.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Paccar Inc)

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