Common use of Adjustment in Option Shares Clause in Contracts

Adjustment in Option Shares. a. In the event any change is made to the Common Stock issuable under the Plan by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other change affecting the outstanding Common Stock as a class effected without the Corporation's receipt of consideration, the Plan Administrator shall make appropriate adjustments to (i) the number and/or class of securities subject to this option and (ii) the Exercise Price payable per share in order to prevent any dilution or enlargement of rights and benefits hereunder. Such adjustments shall be final, binding and conclusive. b. If this option is to be assumed in connection with any Corporate Transaction under Paragraph 6 or is otherwise to continue outstanding, then this option shall, immediately after such Corporate Transaction, be appropriately adjusted to apply and pertain to the number and class of securities which would have been issued to Optionee in the consummation of such Corporate Transaction had the option been exercised immediately prior to such Corporate Transaction. Appropriate adjustments shall also be made to the Exercise Price payable per share, provided the aggregate Exercise Price payable hereunder shall remain the -------- same.

Appears in 2 contracts

Samples: Stock Option Agreement (Meltronix Inc), Stock Option Agreement (Microelectronic Packaging Inc /Ca/)

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Adjustment in Option Shares. a. (a) In the event any change is made to the Common Stock issuable under the Plan by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other change affecting the outstanding Common Stock as a class effected without the Corporation's receipt of consideration, the Plan Administrator Committee shall make appropriate adjustments to (i) the number and/or class of securities subject to this option and (ii) the Exercise Option Price payable per share in order to prevent any dilution or enlargement of rights and benefits hereunder. Such adjustments shall be final, binding and conclusive. b. (b) If this option is to be assumed in connection with any Corporate Transaction under Paragraph 6 or is otherwise to continue remain outstanding, then this option shall, immediately after such Corporate Transaction, be appropriately adjusted to apply and pertain to the number and class of securities which would have been issued to Optionee in the consummation of such Corporate Transaction had the option been exercised immediately prior to such Corporate Transaction. Appropriate adjustments shall also be made to the Exercise Option Price payable per share, provided the aggregate Exercise Option Price payable hereunder shall remain the -------- same.

Appears in 1 contract

Samples: Stock Option Agreement (Insurance Auto Auctions Inc /Ca)

Adjustment in Option Shares. a. (a) In the event any change is made to the Common Stock issuable under the Plan by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other change affecting the outstanding Common Stock as a class effected without the Corporation's receipt of consideration, the Plan Administrator Committee shall make appropriate adjustments to (i) the number and/or class of securities subject to this option and (ii) the Exercise Option Price payable per share in order to prevent any dilution or enlargement of rights and benefits hereunder. Such adjustments shall be final, binding and conclusive. b. (b) If this option is to be assumed in connection with any Corporate Transaction under Paragraph 6 or is otherwise to continue remain outstanding, then this option shall, immediately after such Corporate Transaction, be appropriately adjusted to apply and pertain to the number and class of securities which would have been issued to Optionee in the consummation of such Corporate Transaction had the option been exercised immediately prior to such Corporate Transaction. Appropriate adjustments shall also be made to the Exercise Price payable per share, provided the aggregate Exercise Price payable hereunder shall remain the -------- same.to

Appears in 1 contract

Samples: Stock Option Agreement (Insurance Auto Auctions Inc /Ca)

Adjustment in Option Shares. a. A. In the event any change is made to the Common Stock issuable under the Plan by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other change affecting the outstanding Common Stock as a class effected without the Corporation's receipt of consideration, the Plan Administrator shall make appropriate adjustments to (i) the number and/or class of securities subject to this option and (ii) the Exercise Price payable per share in order to prevent any dilution or enlargement of rights and benefits hereunder. Such adjustments shall be final, binding and conclusive. b. B. If this option is to be assumed in connection with any Corporate Transaction under Paragraph 6 or is otherwise to continue outstanding6, then this option shall, immediately after such Corporate Transaction, be appropriately adjusted to apply and pertain to the number and class of securities which would have been issued to Optionee in the consummation of such Corporate Transaction had the option been exercised immediately prior to such Corporate Transaction. Appropriate adjustments shall also be made to the Exercise Price payable per share, provided the aggregate -------- Exercise Price payable hereunder shall remain the -------- same.

Appears in 1 contract

Samples: Stock Option Agreement (Portal Software Inc)

Adjustment in Option Shares. a. (a) In the event any change is made to the Common Stock issuable under the Plan by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other change affecting the outstanding Common Stock as a class effected without the Corporation's receipt of consideration, the Plan Administrator shall make appropriate adjustments to (i) the number and/or class of securities subject to this option and (ii) the Exercise Price payable per share in order to prevent any dilution or enlargement of rights and benefits hereunder. Such adjustments shall be final, binding and conclusive. b. (b) If this option is to be assumed in connection with any Corporate Transaction under Paragraph 6 or is otherwise to continue outstanding, then this option shall, immediately after the effective date of such Corporate Transaction, be appropriately adjusted to apply and pertain to the number and class of securities which would have been issued to Optionee in the consummation of such Corporate Transaction had the option been exercised immediately prior to such Corporate Transaction. Appropriate adjustments shall also be made to the Exercise Price payable per share, provided PROVIDED the aggregate Exercise Price payable hereunder shall remain the -------- same.

Appears in 1 contract

Samples: Merger Agreement (Gene Logic Inc)

Adjustment in Option Shares. a. A. In the event any change is made to the Common Stock issuable under the Plan by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other change affecting the outstanding Common Stock as a class effected without the Corporation's receipt of consideration, the Plan Administrator shall make appropriate adjustments to (i) the number and/or class of securities subject to this option and (ii) the Exercise Price payable per share in order to prevent any dilution or enlargement of rights and benefits hereunder. Such adjustments shall be final, binding and conclusive. b. B. If this option is to be assumed in connection with any Corporate Transaction under Paragraph 6 or is otherwise to continue outstanding, then this option shall, immediately after such Corporate Transaction, be appropriately adjusted to apply and pertain to the number and class of securities which would have been issued to Optionee in the consummation of such Corporate Transaction had the option been exercised immediately prior to such Corporate Transaction. Appropriate adjustments shall also be made to the Exercise Price payable per share, provided the aggregate Exercise Price payable hereunder shall remain the -------- same.

Appears in 1 contract

Samples: Stock Option Agreement (Quickresponse Services Inc)

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Adjustment in Option Shares. a. A. In the event any change is made to the Common Stock issuable under the Plan by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other change affecting the outstanding Common Stock as a class effected without the Corporation's receipt of consideration, the Plan Administrator shall make appropriate adjustments to (i) the number and/or class of securities subject to this option and (ii) the Exercise Option Price payable per share in order to prevent any dilution or enlargement of rights and benefits hereunder. Such adjustments shall be final, binding and conclusive. b. B. If this option is to be assumed in connection with any Corporate Transaction under Paragraph 6 or is otherwise to continue outstanding, then this option shall, immediately after such Corporate Transaction, be appropriately adjusted to apply and pertain to the number and class of securities which would have been issued to Optionee in the consummation of such Corporate Transaction had the option been exercised immediately prior to such Corporate Transaction. Appropriate adjustments shall also be made to the Exercise Option Price payable per share, provided the aggregate Exercise Option Price payable hereunder shall remain the -------- same.

Appears in 1 contract

Samples: Stock Option Agreement (Quickresponse Services Inc)

Adjustment in Option Shares. a. A. In the event any change is made to the Common Stock issuable under the Plan by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares shares, or other change affecting the outstanding Common Stock as a class effected without the Corporation's receipt of consideration, the Plan Administrator shall make then appropriate adjustments shall be made to (i) the total number and/or class of securities Option Shares subject to this option and (ii) the Exercise Option Price payable per share in order to prevent any reflect such change and thereby preclude the dilution or enlargement of Optionee's rights and benefits hereunder. Such adjustments shall be final, binding and conclusive. b. If B. To the extent this option is to be assumed in connection with any Corporate Transaction under Paragraph 6 (as defined below) or is otherwise to continue outstandingin effect, then this the option shallshall be appropriately adjusted, immediately after such Corporate Transaction, be appropriately adjusted to apply and pertain to the number and class of securities which would have been issued issuable to Optionee Optionee, in the consummation of such Corporate Transaction Transaction, had the option been exercised immediately prior to such Corporate Transaction. Appropriate , and appropriate adjustments shall also be made to the Exercise Option Price payable per share, provided the aggregate Exercise Option Price payable hereunder shall remain the -------- same.

Appears in 1 contract

Samples: Stock Option Agreement (Insite Vision Inc)

Adjustment in Option Shares. a. A. In the event any change is made to the Common Stock issuable under the Plan by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares or other change affecting the outstanding Common Stock as a class effected without the Corporation's receipt of consideration, the Plan Administrator shall make appropriate adjustments to (i) the number and/or class of securities subject to this option and (ii) the Exercise Option Price payable per share in order to prevent any dilution or enlargement of rights and benefits hereunder. Such adjustments shall be final, binding and conclusive. b. B. If this option is to be assumed in connection with any Corporate Transaction under Paragraph 6 or is otherwise to continue outstanding, then this option shall, immediately after such Corporate Transaction, be appropriately adjusted to apply and pertain to the number and class of securities which would have been issued to Optionee in the consummation of such Corporate Transaction had the option been exercised immediately prior to such Corporate Transaction. Appropriate adjustments shall also be made to the Exercise Option Price payable per share, provided PROVIDED the aggregate Exercise Option Price payable hereunder shall remain the -------- same.

Appears in 1 contract

Samples: Stock Option Agreement (Ultratech Stepper Inc)

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