Common use of Adjustments to Option Shares Clause in Contracts

Adjustments to Option Shares. If, after the date of this Agreement, the Common Shares of the Corporation are, as a result of a merger, reorganization, consolidation, recapitalization, reclassification, split-up, spin-off, separation, liquidation, stock dividend, stock split, reverse stock split, property dividend, share repurchase, share combination, share exchange, issuance of warrants, rights or debentures or other change in corporate structure of the Corporation, increased or decreased or changed into or exchanged for a different number or kind of shares of stock or other securities of the Corporation or of another corporation, then: (a) there automatically will be substituted for each Common Share subject to an unexercised Option (in whole or in part) granted under the Agreement the number and kind of shares of stock or other securities into which each outstanding share is changed or for which each such share is exchanged; (b) the Option price per share or unit of securities will be increased or decreased proportionately so that the aggregate purchase price for the securities subject to the Option remains the same as immediately prior to such event; and (c) the Corporation will make such other adjustments to the securities subject to options and provisions of the Plan and this Agreement as may be appropriate and equitable; provided, however, that the number of shares subject to any Option will always be a whole number.