Common use of AUTHORITY TO ACCELERATE, ETC Clause in Contracts

AUTHORITY TO ACCELERATE, ETC. Notwithstanding anything else in this Agreement to the contrary other than Section 3.2, the Committee may, at any time or from time to time, accelerate the time at which the Option becomes exercisable or waive any provisions of this Agreement relating to the manner of payment or procedures for the exercise of the Option. Any such acceleration or waiver may be made effective (a) with respect to some or all of the Shares subject to the Option or (b) for a period of time ending at or before the expiration date of the Option. If the waiver of any provisions constitutes a new grant of an Option or the grant of an additional derivative security for purposes of SEC Rule 16b-3, the date of the waiver will be deemed to be a new Date of Grant for purposes of Section 3.2.