Common use of Extraordinary Items Clause in Contracts

Extraordinary Items. If there is a change in the number of the outstanding shares of the Bank’s common stock by reason of a stock dividend or split, recapitalization, merger, consolidation, combination or exchange of shares where the shares are issued without additional consideration paid to the Bank (“Extraordinary Items”), then the number of Phantom Stock Appreciation Rights shall be increased or decreased proportionately, as of the beginning of the following Plan Year, at the discretion of the Board whose determination shall be conclusive; provided, however, that fractional Phantom Stock Appreciation Rights shall be rounded to the nearest whole Right.