Common use of Extraordinary Corporate Transactions Clause in Contracts

Extraordinary Corporate Transactions. The existence of outstanding Options shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company's capital structure or its business, or any merger or consolidation of the Company, or any issuance of the Common Stock or subscription rights thereto, or any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. If the Company recapitalizes or otherwise changes its capital structure, or merges, consolidates, sells all of its assets or dissolves (each of the foregoing a "Fundamental Change"), then thereafter upon any exercise of the Option, Optionee shall be entitled to purchase under the Option, in lieu of the number of shares of Common Stock as to which the Option shall then be exercisable, the number and class of shares of stock and securities to which Optionee would have been entitled pursuant to the terms of the Fundamental Change if, immediately prior to such Fundamental Change, Optionee had been the holder of record of the number of shares of Common Stock as to which the Option is then exercisable.

Extraordinary Corporate Transactions. The existence of outstanding Options shall not affect in any way the right or power of the Company Bank or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the CompanyBank's capital structure or its business, or any merger or consolidation of the CompanyBank, or any issuance of the Common Stock or subscription rights thereto, or any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the CompanyBank, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceedingproceedings, whether of a similar character or otherwise. If the Company Bank recapitalizes or otherwise changes its capital structure, or merges, consolidates, sells all of its assets or dissolves (each of the foregoing a "Fundamental Change"), then thereafter upon any exercise of any option theretofore granted the Option, Optionee shall be entitled to purchase under the Optionsuch option, in lieu of the number of shares of Common Stock as to which the Option option shall then be exercisable, the number and class of shares of stock and securities to which the Optionee would have been entitled pursuant to the terms of the Fundamental Change if, immediately prior to such Fundamental Change, the Optionee had been the holder of record of the number of shares of Common Stock as to which the Option such option is then exercisable. If the Bank shall not be the surviving entity upon the occurrence of a Fundamental Change, the Options granted hereunder shall be governed by subparagraph 6(j) of the Plan.

Extraordinary Corporate Transactions. The existence of outstanding Options shall not affect in any way the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company's ’s capital structure or its business, or any merger or consolidation of the Company, or any issuance of the Common Stock or subscription rights thereto, or any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceedingproceedings, whether of a similar character or otherwise. If the Company recapitalizes or otherwise changes its capital structure, or merges, consolidates, sells all of its assets or dissolves (each of the foregoing a "“Fundamental Change"”), then thereafter upon any exercise of an Option theretofore granted the Option, Optionee shall be entitled to purchase under the such Option, in lieu of the number of shares of Common Stock as to which the Option option shall then be exercisable, the number and class of shares of stock and securities to which the Optionee would have been entitled pursuant to the terms of the Fundamental Change if, immediately prior to such Fundamental Change, the Optionee had been the holder of record of the number of shares of Common Stock as to which the such Option is then exercisable. Upon the occurrence of a Corporate Change, the Options granted hereunder shall be governed by Paragraph VIII(c) of the Plan and Section 2 of this Option Agreement.

Extraordinary Corporate Transactions. The existence of outstanding Options shall not affect in any way the right or power of the Company or its shareholders stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company's capital structure or its business, or any merger or consolidation of the Company, or any issuance of the Common Stock or subscription rights thereto, or any issuance of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceedingproceedings, whether of a similar character or otherwise. If the Company recapitalizes or otherwise changes its capital structure, or merges, consolidates, sells all of its assets or dissolves (each of the foregoing a "Fundamental Change"), then thereafter upon any exercise of the Option, Optionee shall be entitled to purchase under the Option, in lieu of the number of shares of Common Stock as to which the Option shall then be exercisable, the number and class of shares of stock and securities to which Optionee would have been entitled pursuant to the terms of the Fundamental Change if, immediately prior to such Fundamental Change, Optionee had been the holder of record of the number of shares of Common Stock as to which the Option is then exercisable. If the Company goes through a "Corporate Change" (as defined in subparagraph 6(j) of the Plan), the Options granted hereunder shall be governed by subparagraph 6(j) of the Plan.