- Adjustments in Options Sample Clauses
The "Adjustments in Options" clause defines how the terms of an option contract may be modified in response to certain events affecting the underlying asset, such as stock splits, mergers, or dividends. In practice, this clause outlines the procedures for recalculating the number of options, strike prices, or other key terms to ensure that the value of the options remains consistent after such corporate actions. Its core function is to maintain fairness and economic equivalence for both parties by preventing unintended gains or losses due to changes in the underlying asset's structure.
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- Adjustments in Options. Subject to Section 9 of the Plan, in the event that the outstanding shares of the stock subject to an Option are, from time to time, changed into or exchanged for a different number or kind of shares of the Company or other securities of the Company by reason of a merger, consolidation, recapitalization, reclassification, stock split, stock dividend, combination of shares, or otherwise, the Committee shall make an appropriate and equitable adjustment in the number and kind of shares or other consideration as to which such Option, or portions thereof then unexercised, shall be exercisable. Any such adjustment made by the Committee shall be final and binding upon the Optionee, the Company and all other interested persons.
- Adjustments in Options. Subject to Section 9 of the Plan, in the event that the outstanding Shares subject to an Option are, from time to time, changed into or exchanged for cash or a different number or kind of shares of the Company or other securities of the Company by reason of a merger, consolidation, recapitalization, reclassification, stock split, stock dividend, combination of shares, or otherwise, the Committee shall make an appropriate and equitable adjustment in the number and kind of shares or other consideration and the exercise price as to which such Option, or portions thereof then unexercised, shall be exercisable in order to prevent dilution or enlargement of the benefits intended to be made available with respect to any Option. Any such adjustment made by the Committee shall be final and binding upon the Optionee, the Company and all other interested persons.
- Adjustments in Options. In the event of the occurrence of one of the corporate transactions or other events listed in Section 12(a) of the Plan, the Committee shall make such substitution or adjustment as provided in Section 12(a) of the Plan and Section 2.5 hereof in order to equitably reflect such corporate transaction or other event. Any such adjustment made by the Committee shall be final and binding upon the Optionee, the Company and all other interested persons.
- Adjustments in Options. Subject to Section 9 of the Plan, in the event that the outstanding shares of the stock subject to an Option are, from time to time, changed into or exchanged for cash or a different number or kind of shares of the Company or other securities of the Company by reason of a merger, consolidation, recapitalization, reclassification, stock split, reverse stock split, stock dividend, combination of shares, or otherwise, the Committee shall make an appropriate and equitable adjustment in the number and kind of shares or other consideration and the exercise price as to which such Option, or portions thereof then unexercised, shall be exercisable in order to prevent dilution or enlargement of the benefits intended to be made available with respect to any Option. Any such adjustment made by the Committee shall be final and binding upon the Optionee, the Company and all other interested persons.
- Adjustments in Options. (a) In the event that the outstanding shares of the stock subject to an Option are, from time to time, changed into or exchanged for a different number or kind of shares of the Company or other securities of the Company by reason of a merger, consolidation, recapitalization event, reclassification, stock split, stock dividend, combination of shares, or otherwise, the Committee shall make an appropriate and equitable adjustment in the number and kind of shares or other consideration as to which such Option, or portions thereof then unexercised, shall be exercisable and the exercise price therefor. Any such adjustment made by the Committee shall be final and binding upon the Optionee, the Company and all other interested persons.
(b) Upon a Recapitalization Event which is not a Change of Control, each share of Common Stock subject to an Option shall be entitled to receive any amounts distributed in connection therewith, as if the Option had been exercised, and any amounts so distributed shall be applied to the exercise price of Options until the aggregate amount of such dividend equivalent has been fully applied.
- Adjustments in Options. If any extraordinary dividend or other extraordinary distribution occurs in respect of the Common Stock (whether in the form of cash, Common Stock, other securities or other property), or any reclassification, recapitalization, stock split (including a stock split in the form of a stock dividend), reverse stock split, reorganization, merger, combination, consolidation, split-up, spin-off, combination, repurchase or exchange of Common Stock or other securities of the Company, or any similar, unusual or extraordinary corporate transaction (or event in respect of the Common Stock) or a sale of substantially all the assets of the Company occurs, proportionate adjustments shall be made to the Options by the Committee in accordance with the provisions of Section 15 of the Plan.
- Adjustments in Options. In the event of a stock split, stock dividend, combination of shares or similar event or in the event that the outstanding shares of Common Stock subject to the Options are, from time to time, changed into or exchanged for a different number or kind of shares of Common Stock or other securities of the Corporation by reason of a merger, consolidation, recapitalization, reclassification, or otherwise, the Corporation shall make an appropriate and equitable adjustment in the number and kind of shares or other consideration as to which the Options, or portions thereof then unexercised, shall be exercisable.
- Adjustments in Options. In the event that the outstanding Shares subject to an Option are, from time to time, changed into or exchanged for cash or a different number or kind of shares of the Company or other securities of the Company by reason of a merger, consolidation, recapitalization, reclassification, stock split, stock dividend, combination of shares, or otherwise, the Committee shall make an appropriate and equitable adjustment in the number and kind of shares or other consideration and the exercise price as to which such Option, or portions thereof then unexercised, shall be exercisable in order to prevent dilution or enlargement of the benefits intended to be made available with respect to any Option. Any such adjustment made by the Committee shall be final and binding upon the Optionee, the Company and all other interested persons. In the event of a “spin-off” or other substantial distribution of assets of the Company which has a material diminutive effect upon the Fair Market Value of the Shares, the Committee shall in its discretion make an appropriate and equitable adjustment to the exercise or purchase price to reflect such diminution.
- Adjustments in Options. (a) Subject to Section 9 of the Plan, in the event that the outstanding shares of the stock subject to an Option are, from time to time, changed into or exchanged for a different number or kind of shares of the Company or other securities of the Company by reason of a merger, consolidation, Recapitalization Event, reclassification, stock split, stock dividend, combination of shares, or otherwise, the Committee shall make an appropriate and equitable adjustment in the number and kind of shares or other consideration as to which such Option, or portions thereof then unexercised, shall be exercisable and the exercise price therefor. Any such adjustment made by the Committee shall be final and binding upon the Optionee, the Company and all other interested persons.
(b) Upon a Recapitalization Event which is not a Change of Control, each share of Common Stock subject to an Option shall be entitled to receive any amounts distributed in connection therewith, as if the Option had been exercised, and any amounts so distributed shall be applied to Optionee's outstanding loan balance and thereafter to the exercise price of Options, commencing with Time Options, until the aggregate amount of such dividend equivalent has been fully applied.
- Adjustments in Options. Subject to Section 11 of the Plan, in the event that the outstanding shares of the stock subject to an Option are, from time to time, changed into or exchanged for a different number or kind of shares of the Company or other securities of the Company by reason of an event or transaction described in said Section 11, the Committee shall make an appropriate and equitable adjustment in the number and kind of shares or other consideration as to which such Option, or portions thereof then unexercised, shall be exercisable. Any such adjustment made by the Committee shall be final and binding upon the Optionee, the Company and all other interested persons.