Common use of Adjustments for Change in Stock and Other Events Clause in Contracts

Adjustments for Change in Stock and Other Events. In the event of a reorganization, recapitalization, stock split, stock dividend, any other issuance of shares for no consideration, or a combination of shares, consolidation, merger (other than a merger or consolidation which does not result in any reclassification, conversion, exchange or cancellation of outstanding shares), any sale or transfer by the Company of all or substantially all of its assets, or any tender offer or exchange offer for or the acquisition, directly or indirectly, by any person or group of all or a majority of the then outstanding voting securities of the Company, or any other change in the corporate structure or rights with respect to any shares of the Company, the Company shall make such adjustments as shall be appropriate in the number and kind of shares of Option Stock subject to the Option, and/or in the option price per share, to provide that the Optionee shall have the right following such event, during the period that the Option shall be exercisable, to exercise the Option for the kind and amount of securities, cash and other property receivable upon such event by a holder of the number and kind of shares of common stock for which such Option might have been exercised immediately prior to such event.