Common use of Extraordinary Corporate Transactions Clause in Contracts

Extraordinary Corporate Transactions. If the Company experiences a "Fundamental Change" that is not a "Corporate Change" (as those terms are defined in the Plan), the Committee may make appropriate and proportionate adjustments in the number and type of shares or other securities or cash or other property that may thereafter be acquired upon the exercise of the Option; provided, however, that any such adjustments in the Option shall be made without changing the aggregate Exercise Price for the then unexercised portion of the Option. If the Company experiences a "Fundamental Change" that is a "Corporate Change," the Option granted hereunder shall be treated as specified by the Committee in its sole discretion on or prior to the date that the Corporate Change occurs, which treatment Optionee hereby consents to as a condition to receipt of this Option, or, if the Committee has not otherwise provided on or prior to the date that the Corporate Change occurs, the Option granted hereunder shall become 100% exercisable as of the date of such Corporate Change as provided in the Plan.

Appears in 2 contracts

Samples: Incentive Stock Option Agreement (Atlantic Coast Airlines Holdings Inc), Nonqualified Stock Option Agreement (Atlantic Coast Airlines Holdings Inc)

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Extraordinary Corporate Transactions. If the Company experiences a "Fundamental Change" that is not a "Corporate Change" (as those terms are defined in Section 6(i) of the Plan), the Committee may shall make appropriate and proportionate adjustments in the number and type of shares or other securities or cash or other property that may thereafter be acquired upon the exercise of the Option; provided, however, that any such adjustments in the Option shall be made without changing the aggregate Exercise Price for the then unexercised portion of the Option. If the Company experiences a "Fundamental Change" that is a "Corporate Change," the Option granted hereunder shall be treated as specified by the Committee in its sole discretion on or prior to the date that the Corporate Change occurs, which treatment Optionee hereby consents to as a condition to receipt of this Option, pursuant to Section 6(i) of the Plan or, if the Committee has not otherwise provided on or prior to the date that the Corporate Change occurs, the Option granted hereunder shall become 100% exercisable as of the date of such Corporate Change as provided in clause (1) of Section 6(i) of the Plan.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Atlantic Coast Airlines Holdings Inc)

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Extraordinary Corporate Transactions. If the Company experiences a "Fundamental Change" that is not a "Corporate Change" (as those terms are defined in Section 6(i) of the Plan), the Committee may shall make appropriate and proportionate adjustments in the number and type of shares or other securities or cash or other property that may thereafter be acquired upon the exercise of the Option; provided, however, that any such adjustments in the Option shall be made without changing the aggregate Exercise Price for the then unexercised portion of the Option. If the Company experiences a "Fundamental Change" that is a "Corporate Change," the Option granted hereunder shall be treated as specified by the Committee in its sole discretion on or prior to the date that the Corporate Change occurs, which treatment Optionee hereby consents to as a condition to receipt of this Option, or, if the Committee has not otherwise provided on or prior to the date that the Corporate Change occurs, the Option granted hereunder shall become 100% exercisable as of the date of such Corporate Change as provided in clause (1) of Section 6(i) of the Plan.

Appears in 1 contract

Samples: Nonqualified Stock Option Agreement (Atlantic Coast Airlines Holdings Inc)

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