Common use of Impact of Event Clause in Contracts

Impact of Event. In the event of a "Change in Control" as defined in Section 9(b), the Committee or the Board may provide that one or more of the following acceleration and valuation provisions shall apply: (i) Any or all SARs outstanding for at least six months on the date that such Change in Control is determined to have occurred and any or all Options awarded under this Plan not previously exercisable and vested shall become fully exercisable and vested. (ii) The restrictions and deferral limitations applicable to all Stock Awards shall lapse and such shares and such Stock Awards shall be fully vested. (iii) The value of any or all outstanding Options, SARs and Stock Awards shall be cashed out on the basis of the "Change in Control Price" as defined in Section 9(c) as of the date such Change in Control is determined to have occurred or such other date as the Committee may determine prior to the Change in Control.

Impact of Event. In the event of a "Change in Control" as defined in Section 9(b), the Committee or the Board may provide that one or more of the following acceleration and valuation provisions shall apply: (i) Any or all SARs outstanding for at least six months on the date that such Change in Control is determined to have occurred and any or all Options awarded under this Plan not previously exercisable and vested shall become fully exercisable and vested. (ii) The restrictions and deferral limitations applicable to all Stock Awards shall lapse and such shares and such Stock Awards shall be fully vested. (iii) The value of any or all outstanding Options, SARs and Stock Awards shall be cashed out on the basis of the "Change in Control Price" as defined in Section 9(c) as of the date such Change in Control is determined to have occurred or such other date as the Committee may determine prior to the Change in Control.

Impact of Event. In the event of a "Change in Control" as defined in Section 9(b), the Committee or the Board may provide that one or more of the following acceleration and valuation provisions shall apply: (i) Any or all SARs outstanding for at least six months on the date that such Change in Control is determined to have occurred and any or all Options awarded under this Plan not previously exercisable and vested shall become fully exercisable and vested.or (ii) The restrictions and deferral limitations applicable to all Stock Awards shall lapse and such shares and such Stock Awards shall be fully vested. (iii) The value of any or all outstanding Options, SARs and Stock Awards shall be cashed out on the basis of the "Change in Control Price" as defined in Section 9(c) as of the date such Change in Control is determined to have occurred or such other date as the Committee may determine prior to the Change in Control.