Distributions, Redemptions, etc. Upon the occurrence of an Adjustment Event, the Option Price shall be reduced by an amount equal to the per-Share amount paid in connection with the Adjustment Event; provided, however, that any such reduction shall be limited to that portion of such amount which would not cause the Option Price to be reduced below 25% of the per-Share Fair Market Value, as of the date of such reduction. In the case of a redemption or repurchase, the number of Shares of the class of stock redeemed or repurchased that are subject to the Option will be automatically reduced by an amount proportionate to the percentage reduction in outstanding shares of the affected class resulting from the redemption or repurchase.
Appears in 8 contracts
Samples: Nonqualified Stock Option Agreement (Freescale Semiconductor, Ltd.), Nonqualified Stock Option Agreement (Freescale Semiconductor, Ltd.), Nonqualified Stock Option Agreement (Freescale Semiconductor Holdings I, Ltd.)
