Common use of Adjustment in Option Clause in Contracts

Adjustment in Option. If prior to the complete exercise of this Option, there shall be a change in the outstanding Common Stock by reason of one or more stock splits, stock dividends, combinations or exchanges of shares, recapitalizations or similar capital adjustments, then the number, kind and option price of the shares remaining subject to this Option shall be equitably adjusted in accordance with the terms of the Plan, so that the proportionate interest in the Corporation represented by the shares then subject to the Option shall be the same as before the occurrence of such event.

Appears in 5 contracts

Samples: Stock Option Agreement (Ems Technologies Inc), Stock Option Agreement (Ems Technologies Inc), Stock Option Agreement (Ems Technologies Inc)

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Adjustment in Option. If If, between the Date of Grant specified in the Agreement and prior to the complete exercise of this the Option, there shall be a change in the outstanding Common Stock by reason of one or more stock splits, stock dividends, combinations or exchanges of shares, recapitalizations or similar capital adjustments, then the number, kind and option purchase price of the shares remaining subject to this the Option shall be equitably adjusted in accordance with the terms of the Plan, so that the proportionate interest in the Corporation represented by the shares then subject to the Option shall be the same as before the occurrence of such event.

Appears in 5 contracts

Samples: Stock Option Agreement (Ems Technologies Inc), Stock Option Agreement (Ems Technologies Inc), Stock Option Agreement (Ems Technologies Inc)

Adjustment in Option. If If, between the Date of Grant of this Option and prior to the complete exercise of this Optionthereof, there shall be a change in the outstanding Common Stock by reason of one or more stock splits, stock dividends, combinations or exchanges of shares, recapitalizations or similar capital adjustments, then the number, kind and option price of the shares remaining subject to this Option shall be equitably adjusted in accordance with the terms of the Plan, so that the proportionate interest in the Corporation represented by the shares then subject to the Option shall be the same as before the occurrence of such event.

Appears in 3 contracts

Samples: Stock Option Agreement (Electromagnetic Sciences Inc), 1992 Stock Incentive Plan Stock Option Agreement (Ems Technologies Inc), Stock Incentive Plan Stock Option Agreement (Ems Technologies Inc)

Adjustment in Option. If prior to If, between the Date of Grant and the complete exercise of this Optionthereof, there shall be a change in the outstanding shares of Common Stock of the Company by reason of one or more stock splits, stock dividendsdividends payable in shares of common stock, combinations or exchanges of shares, recapitalizations or similar capital adjustments, then the number, kind and option price or Exercise Price, as the case may be, of the shares Shares remaining subject to this Option shall be equitably adjusted in accordance with the terms of the Plan, Plan so that the proportionate interest in the Corporation Company represented by the shares Shares then subject to the Option shall be the same as before the occurrence of such event.

Appears in 3 contracts

Samples: Stock Option Agreement (Pacific Biometrics Inc), Stock Option Agreement (Pacific Biometrics Inc), Stock Option Agreement (Pacific Biometrics Inc)

Adjustment in Option. If prior to If, between the Date of Grant and the complete exercise of this Optionthereof, there shall be a change in the outstanding shares of Common Stock of the Company by reason of one or more stock splits, stock dividendsdividends payable in shares of common stock, combinations or exchanges of shares, recapitalizations or similar change in the Company’s corporate or capital adjustmentsstructure, then the number, kind and option price Exercise Price, as the case may be, of the shares Shares remaining subject to this Option shall be equitably adjusted in accordance with the terms of the Plan, Plan so that the proportionate interest in the Corporation Company represented by the shares Shares then subject to the Option shall be the same as before the occurrence of such event.

Appears in 2 contracts

Samples: Form of Stock Option Agreement (Legend Oil & Gas, Ltd.), – Stock Option Agreement (Legend Oil & Gas, Ltd.)

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Adjustment in Option. If prior to the complete exercise of this Option, there shall be a change in the outstanding Common Stock by reason of one or more stock splits, stock dividends, combinations or exchanges of shares, recapitalizations or similar capital adjustments, then the number, kind and option price of the shares remaining subject to this Option shall be equitably adjusted in accordance with the terms of the Plan, so that the proportionate interest in the Corporation represented by the shares then subject to the Option shall be the same as before the occurrence of such event.

Appears in 2 contracts

Samples: Stock Option Agreement (Electromagnetic Sciences Inc), Stock Option Agreement (Electromagnetic Sciences Inc)

Adjustment in Option. If If, prior to the complete exercise of this the Option, there shall be a change in the outstanding Common Stock by reason of one or more stock splits, stock dividends, combinations or exchanges of shares, recapitalizations or similar capital adjustments, then the number, kind and option price of the shares remaining subject to this the Option shall be equitably adjusted in accordance with the terms of the Plan, so that the proportionate interest in the Corporation represented by the shares then subject to the Option shall be the same as before the occurrence of such event.

Appears in 1 contract

Samples: Stock Option Agreement (Ems Technologies Inc)

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