Adjustment of Option Shares. The number of Option Shares purchasable pursuant to this Agreement shall be subject to adjustment from time to time upon the happening of certain events, as follows:
Adjustment of Option Shares. Prior to any public offering of ELCOM --------------------------- shares, if the outstanding common shares of Elcom Technologies Corporation, are changed into or exchanged for a different number or kind of shares or other securities of Elcom Technologies Corporation or of another corporation, whether through reorganization, share split-up, combination of shares, merger or consolidation, then these shares shall be substituted for each common share of Elcom Technologies Corporation then subject to this Stock Option Agreement. The number and kinds of shares or other securities into which each such ELCOM share is so changed or for which each ELCOM share is exchanged shall be at the sole discretion of ELCOM.
Adjustment of Option Shares. The foregoing number of shares covered by any Option shall be appropriately adjusted in the event of a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or similar change in the capital structure of the Bank that occurs between the Effective Date of this Agreement and the date on which the Option is granted.
Adjustment of Option Shares. In the event that the outstanding common shares of the Company shall be changed into or exchanged for a different number or kind of shares or other securities of the Company or of another corporation, whether through reorganization, recapitalization, share split-up, combination of shares, merger, consolidation, or otherwise, there shall be substituted for each common share of the Company then subject to the option hereinbefore granted the number and kind of shares or other securities into which each such outstanding common share shall be so changed or for which each such share shall have been changed. Thereafter the words "common shares of the Company" as used in this Agreement shall be construed to mean such substituted shares or other securities and the option price for each common share of the Company as specified in paragraph 1 shall apply to and be the option price for the shares or other securities substituted for such common shares of the Company.
Adjustment of Option Shares. In the event the Company shall subdivide or split its outstanding common stock into a smaller or larger number of shares or combine its outstanding common stock into a smaller number of shares, the denominator used in Section 2 to determine the number of Option Shares that KM and TM shall be entitled to receive upon exercising their Put Options shall be adjusted so that KM and TM thereafter shall be entitled to receive upon exercising their Put Options that number of shares of the Company's common stock which it would have been entitled to receive had such Put Option been exercised immediately prior to the happening of such event.
Adjustment of Option Shares structure of the Company without consideration, the number of Shares subject to this Option and the Exercise Price shall be proportionately adjusted, subject to any required action by the Board or stockholders of the Company and compliance with applicable securities laws; provided, however, that fractions of a Share shall not be issued but shall either be paid in cash at Fair Market Value or shall be rounded down to the nearest Share, as determined by the Committee; and provided further that the Exercise Price of this Option may not be decreased to below the par value of the Shares.
Adjustment of Option Shares. In the event that the number of --------------------------- outstanding shares of Common Stock of the Company is changed by a stock dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification or similar change in the capital structure of the Company without consideration, then the Exercise Price and number of Shares subject to this Option will be proportionately adjusted, subject to any required action by the Board or the stockholders of the Company and compliance with applicable securities laws; provided however, that fractions of a Share will not be issued but will either be replaced by a cash payment equal to the Fair Market Value of such fraction of a Share or will be rounded up to the nearest whole Share, as determined by the Committee.
Adjustment of Option Shares. All references to the number of Option Shares shall be appropriately adjusted to reflect any stock split, stock dividend, consolidation, or other change in the number of common shares held by the Shareholder which may be made by the Company after the date of this Agreement.
Adjustment of Option Shares. If the outstanding common shares of SCV are changed into or exchanged for a different number or kind of shares or other securities of SCV or of another corporation, whether through reorganization, recapitalization, shares split-up, combination of shares, merger, or consolidation, there shall be substituted for each common share of SCV then subject to this Agreement, the number and kinds of shares or other securities into which each such outstanding common share is so changed or for which each such share is exchanged. Whenever the number of shares for which the Options under this Agreement may be exercised is adjusted pursuant to this Section 6, the exercise price shall simultaneously be adjusted by dividing the aggregate exercise price for the aggregate number of Shares originally issuable upon exercise of the Options by FINAL EXECUTION VERSION the aggregate number of Shares issuable upon exercise of the Options after such adjustment.
