Common use of Adjustment for Spin Off Clause in Contracts

Adjustment for Spin Off. If, for any reason, prior to the exercise of this Option in full, the Corporation spins off or otherwise divests itself of a part of its business or operations or disposes of all or a part of its assets in a transaction (the "Spin Off') in which the Corporation does not receive compensation for such business, operations or assets, but causes securities of another entity (the "Spin Off Securities") to be issued to security holders of the Corporation, then Optionee shall be entitled to receive its pro rata share of the Spin Off Securities determined as if it had exercised the entire unexercised portion of the Option outstanding on the trading day immediately prior to record date (the "Record Date") for determining the amount and number of Spin Off Securities to be issued to security holders of the Corporation.