Common use of Effect on Existing Plans Clause in Contracts

Effect on Existing Plans. All Change in Control provisions applicable to Executive and contained in any plan, program, agreement or arrangement maintained as of the date this Agreement is signed (including, but not limited to, any stock option, restricted stock or pension plan) shall remain in effect through the date of a Change in Control, and for such period thereafter as is necessary to carry out such provisions and provide the benefits payable thereunder, and may not be altered in a manner which adversely affects Executive without Executive's prior written approval. This means that all awards of options, performance shares or such other awards as may be granted shall upon Change in Control be fully vested consistent with the terms of these Agreements. Notwithstanding the foregoing, no benefits shall be paid to Executive, however, under the Polaroid Extended Severance Plan or any other severance plan maintained generally for the employees of Polaroid if Executive is eligible to receive severance benefits under this Agreement.