Common use of STOCK OPTIONS AND COMPANY STOCK Clause in Contracts

STOCK OPTIONS AND COMPANY STOCK. (a) In the event of the Executive’s death, whether his death occurs during or after the Employment Term, all unexercised and exercisable stock options to purchase shares of Common Stock (including, without limitation, the Option) will be assigned to his estate. (b) In the event of the termination of the employment of the Executive for any reason, all unexercised and exercisable stock options (including, without limitation, the Option) must be exercised by him, or his estate (or heir(s)) as the case may be, before the second anniversary of the termination of his employment, but in no event after the tenth anniversary of the date of grant thereof, and any such stock options not exercised by that date will lapse immediately thereafter. (c) In the event of any change in the number of issued shares of Common Stock resulting from a subdivision or consolidation of shares or other capital adjustment, or the payment of a stock dividend, or other increase or decrease in such shares, then appropriate adjustments in the terms of any unexercised stock options shall be made by the Stock Option Committee of the Parent Board.

STOCK OPTIONS AND COMPANY STOCK. (a) In the event of the Executive’s 's death, whether his death occurs during or after the Employment Term, all unexercised and exercisable stock options to purchase shares of Common Stock (including, without limitation, the Option) will be assigned to his estate. (b) In the event of the termination of the employment of the Executive for any reason, all unexercised and exercisable stock options (including, without limitation, the Option) must be exercised by him, or his estate (or heir(s)) as the case may be, before the second anniversary of the termination of his employment, but in no event after the tenth anniversary of the date of grant thereof, and any such stock options not exercised by that date will lapse immediately thereafter. (c) In the event of any change in the number of issued shares of Common Stock resulting from a subdivision or consolidation of shares or other capital adjustment, or the payment of a stock dividend, or other increase or decrease in such shares, then appropriate adjustments in the terms of any unexercised stock options shall be made by the Stock Option Committee of the Parent Board.

STOCK OPTIONS AND COMPANY STOCK. (a) In the event of the Executive’s 's death, whether his death occurs during or after the Employment Term, all unexercised and exercisable stock options to purchase shares of Common Stock (including, without limitation, the Option) will be assigned to his estate. (b) In the event of the termination of the employment of the Executive for any reason, all unexercised and exercisable stock options (including, without limitation, the Option) must be exercised by him, or his estate (or heir(s)) as the case may be, before the second anniversary of the termination of his employment, but in no event after the tenth anniversary of the date of grant thereof, and any such stock options not exercised by that date will lapse immediately thereafter. (c) In the event of any change in the number of issued shares of Common Stock resulting from a subdivision or consolidation of shares or other capital adjustment, or the payment of a stock dividend, or other increase or decrease in such shares, then appropriate adjustments in the terms of any unexercised stock options shall be made by the Stock Option Compensation Committee of the Parent Board.

STOCK OPTIONS AND COMPANY STOCK. (a) In the event of the Executive’s 's death, whether his death occurs during or after the Employment Term, all unexercised and exercisable stock options to purchase shares of Common Stock (including, without limitation, the Option) will be assigned to his estate. (b) In the event of the termination of the employment of the Executive for any reason, all unexercised and exercisable stock options (including, without limitation, the Option) must be exercised by him, or his estate (or heir(s)) as the case may be, before the second anniversary of the termination of his employment, but in no event after the tenth anniversary of the date of grant thereof, and any such stock options not exercised by that date will lapse immediately thereafter. (c) In the event of any change in the number of issued shares of Common Stock resulting from a subdivision or consolidation of shares or other capital adjustment, or the payment of a stock dividend, or other increase or decrease in such shares, then appropriate adjustments in the terms of any unexercised stock options shall be made by the Stock Option Committee of the Parent Board.

STOCK OPTIONS AND COMPANY STOCK. (a) In the event of the Executive’s death, whether his death occurs during or after the Employment Term, all unexercised and exercisable stock options to purchase shares of Common Stock (including, without limitation, the Option and the Replacement Option) will be assigned to his estate. (b) In the event of the termination of the employment of the Executive for any reason, all unexercised and exercisable stock options (including, without limitation, the Option and the Replacement Option) must be exercised by him, or his estate (or heir(s)) as the case may be, before the second anniversary of the termination of his employment, but in no event after the tenth anniversary of the date of grant thereof, and any such stock options not exercised by that date will lapse immediately thereafter. (c) In the event of any change in the number of issued shares of Common Stock resulting from a subdivision or consolidation of shares or other capital adjustment, or the payment of a stock dividend, or other increase or decrease in such shares, then appropriate adjustments in the terms of any unexercised stock options shall be made by the Stock Option Committee of the Parent Board.

STOCK OPTIONS AND COMPANY STOCK. (a) In the event of the Executive’s 's death, whether his death occurs during or after the Employment Term, all unexercised and exercisable stock options to purchase shares of Common Stock (including, without limitation, the Option) will be assigned to his estate. (b) In the event of the termination of the employment of the Executive for any reason, all unexercised and exercisable stock options (including, without limitation, the Option) must be exercised by him, or his estate (or heir(s)) as the case may be, before the second anniversary of the termination of his employment, but in no event after the tenth anniversary of the date of grant thereof, and any such stock options not exercised by that date will lapse immediately thereafter. (c) In the event of any change in the number of issued shares of Common Stock resulting from a subdivision or consolidation of shares or other capital adjustment, or the payment of a stock dividend, or other increase or decrease in such shares, then appropriate adjustments in the terms of any unexercised stock options shall be made by the Stock Option Committee of the Parent Board.