Common use of NO BAR TO CORPORATE RESTRUCTURING Clause in Contracts

NO BAR TO CORPORATE RESTRUCTURING. The existence of this option shall not affect in any way the right or power of the Corporation or its stockholders to make or authorize any and all adjustments, recapitalizations, reorganizations or other changes in the Corporation's capital structure or its business, or any merger or consolidation of the Corporation, or any issue of bonds, debentures, preferred or preference stocks ahead of or affecting Timber Stock or the rights thereof, or the dissolution or liquidation of the Corporation, or any sale or transfer of all or part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 9. CAPITAL READJUSTMENTS/STOCK OPTION MODIFICATIONS. The option grant under this Plan will be made in Timber Stock as constituted on the Grant Date for this option grant. In the event of any merger, reorganization, consolidation, recapitalization, stock dividend, stock split, or extraordinary distribution with respect to Timber Stock or other change in corporate structure affecting Timber Stock, the Plan Administrator shall have the authority to make such substitution or adjustments in the number, kind and option price of shares subject to this option grant and/or such other equitable substitution or adjustments as it may determine in its sole discretion to be appropriate to ensure that all similarly situated optionees under the Plan are treated equitably as a result of any such event; provided, however, that the number of shares subject to any option grant shall always be a whole number. In the event any adjustment to this option grant pursuant to this Agreement would otherwise result in the creation of a fractional share interest, the number of shares under this option grant shall be rounded to the nearest whole share (with 0.5 share rounded to the next higher whole number).

NO BAR TO CORPORATE RESTRUCTURING. The existence of this option shall not affect in any way the right or power of the Corporation or its stockholders to make or authorize any and all adjustments, recapitalizations, reorganizations or other changes in the Corporation's capital structure or its business, or any merger or consolidation of the Corporation, or any issue of bonds, debentures, preferred or preference stocks ahead of or affecting Timber G-P Group Stock or the rights thereof, or the dissolution or liquidation of the Corporation, or any sale or transfer of all or part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 9. CAPITAL READJUSTMENTS/STOCK OPTION MODIFICATIONS. The option grant under this Plan will be made in Timber G-P Group Stock as constituted on the Grant Date for this option grant. In the event of any merger, reorganization, consolidation, recapitalization, stock dividend, stock split, or extraordinary distribution with respect to Timber G-P Group Stock or other change in corporate structure affecting Timber G-P Group Stock, the Plan Administrator shall have the authority to make such substitution or adjustments in the number, kind and option price of shares subject to this option grant and/or such other equitable substitution or adjustments as it may determine in its sole discretion to be appropriate to ensure that all similarly situated optionees under the Plan are treated equitably as a result of any such event; provided, however, that the number of shares subject to any option grant shall always be a whole number. In the event any adjustment to this option grant pursuant to this Agreement would otherwise result in the creation of a fractional share interest, the number of shares under this option grant shall be rounded to the nearest whole share (with 0.5 share rounded to the next higher whole number).

NO BAR TO CORPORATE RESTRUCTURING. The existence of this option shall not affect in any way the right or power of the Corporation or its stockholders to make or authorize any and all adjustments, recapitalizations, reorganizations or other changes in the Corporation's capital structure or its business, or any merger or consolidation of the Corporation, or any issue of bonds, debentures, preferred or preference stocks ahead of or affecting Timber the Stock or the rights thereof, or the dissolution or liquidation of the Corporation, or any sale or transfer of all or part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 9. CAPITAL READJUSTMENTS/STOCK OPTION MODIFICATIONS. The option grant under this Plan will be made in Timber shares of the Stock of the Corporation as constituted on the Grant Date for this option grant. In the event of any merger, reorganization, consolidation, recapitalization, stock dividend, stock split, or extraordinary distribution with respect to Timber the Stock or other change in corporate structure affecting Timber the Stock, the Plan Administrator shall have the authority to make such substitution or adjustments in the number, kind and option price of shares subject to this option grant and/or such other equitable substitution or adjustments as it may determine in its sole discretion to be appropriate to ensure that all similarly situated optionees under the Plan are treated equitably as a result of any such event; provided, however, that the number of shares subject to any option grant shall always be a whole number. In the event any adjustment to this option grant pursuant to this Agreement would otherwise result in the creation of a fractional share interest, the number of shares under this option grant shall be rounded to the nearest whole share (with 0.5 share rounded to the next higher whole number).

NO BAR TO CORPORATE RESTRUCTURING. The existence of this option shall not affect in any way the right or power of the Corporation or its stockholders to make or authorize any and all adjustments, recapitalizations, reorganizations or other changes in the Corporation's capital structure or its business, or any merger or consolidation of the Corporation, or any issue of bonds, debentures, preferred or preference stocks ahead of or affecting Timber Georgia- Pacific Group Stock or the rights thereof, or the dissolution or liquidation of the Corporation, or any sale or transfer of all or part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise. 9. CAPITAL READJUSTMENTS/STOCK OPTION MODIFICATIONS. The option grant under this Plan will be made in Timber Georgia-Pacific Group Stock as constituted on the Grant Date for this option grant. In the event of any merger, reorganization, consolidation, recapitalization, stock dividend, stock split, or extraordinary distribution with respect to Timber Georgia-Pacific Group Stock or other change in corporate structure affecting Timber Georgia-Pacific Group Stock, the Plan Administrator shall have the authority to make such substitution or adjustments in the number, kind and option price of shares subject to this option grant and/or such other equitable substitution or adjustments as it may determine in its sole discretion to be appropriate to ensure that all similarly situated optionees under the Plan are treated equitably as a result of any such event; provided, however, that the number of shares subject to any option grant shall always be a whole number. In the event any adjustment to this option grant pursuant to this Agreement would otherwise result in the creation of a fractional share interest, the number of shares under this option grant shall be rounded to the nearest whole share (with 0.5 share rounded to the next higher whole number).