Common use of Corporation Stock Option Plans Clause in Contracts

Corporation Stock Option Plans. The Corporation shall continue in effect each stock option plan under which any person holds an outstanding option to purchase shares of the Corporation's common stock after the Effective Time. Except as otherwise provided in Section 5.5, each Ceridian Option held by a person other than a New Ceridian Optionee, whether or not exercisable as of the Effective Time, shall be adjusted in accordance with the following rules. (a) The price to be paid for each share of Arbitron common stock under the option (prior to any adjustment under the Ceridian Plans for the contemplated reverse stock split) shall be equal to the product of the per share exercise price of the Ceridian Option and the Arbitron Price Ratio, such product to be rounded to the nearest whole cent; and (b) The number of shares of Arbitron common stock to be issued in the exchange shall be equal to the quotient obtained by dividing the number of shares covered by the existing Ceridian Option (prior to any adjustment under the Ceridian Plans for the contemplated reverse stock split) by the Arbitron Price Ratio, such quotient to be rounded to the nearest full share. (c) Effective upon consummation of the reverse stock split of Arbitron common stock, the price to be paid for each share of Arbitron stock under the option as determined by clause (a) of this Section 5.4 shall be adjusted to equal the product of the price determined by clause (a) multiplied by the inverse of the Reverse Split Ratio, and the number of shares subject to such option as determined by clause (b) of this Section 5.4 shall be adjusted to equal the product, rounded to the nearest full share, of the number of shares determined by clause (b) multiplied by, the Reverse Split Ratio.

Corporation Stock Option Plans. The Corporation shall continue in effect each stock option plan under which any person holds an outstanding option to purchase shares of the Corporation's common stock after the Effective Time. Except as otherwise provided in Section 5.5, each Ceridian Option held by a person other than a New Ceridian Optionee, whether or not exercisable as of the Effective Time, shall be adjusted in accordance with the following rules. (a) The price to be paid for each share of Arbitron common stock under the option (prior to any adjustment under the Ceridian Plans for the contemplated reverse stock split) shall be equal to the product of the per share exercise price of the Ceridian Option and the Arbitron Price Ratio, such product to be rounded to the nearest whole cent; and (b) The number of shares of Arbitron common stock to be issued in the exchange shall be equal to the quotient obtained by dividing the number of shares covered by the existing Ceridian Option (prior to any adjustment under the Ceridian Plans for the contemplated reverse stock split) by the Arbitron Price Ratio, such quotient to be rounded to the nearest full share. (c) Effective upon consummation of the reverse stock split of Arbitron common stock, the price to be paid for each share of Arbitron stock under the option as determined by clause (a) of this Section 5.4 shall be adjusted to equal the product of the price determined by clause (a) multiplied by the inverse of the Reverse Split Ratioincreased by, and the number of shares subject to such option as determined by clause (b) of this Section 5.4 shall be adjusted to equal the product, rounded to the nearest full share, of the number of shares determined by clause (b) multiplied reduced by, the Reverse Split Ratio.