Common use of Stock Purchase Plan Clause in Contracts

Stock Purchase Plan. As a result of the Merger, the Company's 1986 Employee Stock Purchase Plan (the "Stock Purchase Plan") and the current offering period thereunder (the "Offering Period") which commenced on April 1, 1995 and is scheduled to terminate on March 31, 1996 (the "Scheduled Termination Date"), shall terminate, and each then participant in the Offering Period shall be entitled to receive from the Exchange Agent, at the Effective Time, an amount of cash equal to the difference between (a) the product of the following: (i) the Per Share Price, times (ii) the number of Shares which would have been issued to such participant had such participant continued participation in the Offering Period through the Scheduled Termination Date; and (b) the amount remaining to be deducted from the participant's compensation subsequent to the Effective Time in accordance with the provisions of the Stock Purchase Plan had such participant continued participating in the Offering Period through the Scheduled Termination Date.