Common use of Profit Limitation Clause in Contracts

Profit Limitation. (a) Notwithstanding any other provision of this Agreement or the Merger Agreement, in no event shall the Company's Total Profit (as defined below) exceed $1,100,000,000 (the "Maximum Amount") and, if it otherwise would exceed such Maximum Amount, the Company at its sole election may (i) pay cash to Parent, (ii) deliver to Parent for cancellation Option Shares previously purchased by the Company, or (iii) any combination thereof, so that the Company's actually realized Total Profit (as defined below) shall not exceed the Maximum Amount after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Stock Option Agreement (Chevron Corp), Stock Option Agreement (Texaco Inc)

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Profit Limitation. (a) Notwithstanding any other provision of this Agreement or the Merger Agreement, in no event shall the Company's Total Profit (as defined below) exceed $1,100,000,000 400 million (the "Maximum Amount") and, if it otherwise would exceed such Maximum Amount, the Company at its sole election may (i) pay cash to Parent, (ii) deliver to Parent for cancellation Option Shares previously purchased by the Company, or (iii) any combination thereof, so that the Company's actually realized Total Profit (as defined below) shall not exceed the Maximum Amount after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Stock Option Agreement (Honeywell Inc), 3 Stock Option Agreement (Alliedsignal Inc)

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Profit Limitation. (a) Notwithstanding any other provision of this Agreement or the Merger Agreement, in no event shall the CompanyParent's Total Profit (as defined below) exceed $1,100,000,000 460,000,000 (the "Maximum Amount") and, if it otherwise would exceed such Maximum Amount, the Company Parent at its sole election may (i) pay cash to Parentthe Company, (ii) deliver to Parent the Company for cancellation Option Shares previously purchased by the CompanyParent, or (iii) any combination thereof, so that the CompanyParent's actually realized Total Profit (as defined below) shall not exceed the Maximum Amount after taking into account the foregoing actions.

Appears in 2 contracts

Samples: Stock Option Agreement (Quaker Oats Co), Stock Option Agreement (Pepsico Inc)

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