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This excerpt taken from the SPNC DEF 14A filed Apr 29, 2009. Change in
Control
Except as may otherwise be provided in any written agreement
between the participant and us, in the event of a change in
control of the Company (as defined in the 2006 Incentive Award
Plan) in which awards are not converted, assumed, or replaced by
the successor, such awards will become fully exercisable and all
forfeiture restrictions on such awards will lapse. Upon, or in
anticipation of, a change in control, the plan administrator may
cause any and all awards outstanding under the 2006 Incentive
Award Plan to terminate at a specific time in the future and
will give each participant the right to exercise such awards
during a period of time as the plan administrator, in its sole
and absolute discretion, will determine.
This excerpt taken from the SPNC DEF 14A filed Apr 29, 2008. Change in
Control
Except as may otherwise be provided in any written agreement
between the participant and us, in the event of a change in
control of the Company (as defined in the 2006 Incentive Award
Plan) in which awards are not converted, assumed, or replaced by
the successor, such awards will become fully exercisable and all
forfeiture restrictions on such awards will lapse. Upon, or in
anticipation of, a change in control, the plan administrator may
cause any and all awards outstanding under the 2006 Incentive
Award Plan to terminate at a specific time in the future and
will give each participant the right to exercise such awards
during a period of time as the plan administrator, in its sole
and absolute discretion, will determine.
This excerpt taken from the SPNC DEF 14A filed Apr 30, 2007. Change in
Control
Except as may otherwise be provided in any written agreement
between the participant and us, in the event of a change in
control of the Company (as defined in the 2006 Incentive Award
Plan) in which awards are not converted, assumed, or replaced by
the successor, such awards will become fully exercisable and all
forfeiture restrictions on such awards will lapse. Upon, or in
anticipation of, a change in control, the plan administrator may
cause any and all awards outstanding under the 2006 Incentive
Award Plan to terminate at a specific time in the future and
will give each participant the right to exercise such awards
during a period of time as the plan administrator, in its sole
and absolute discretion, will determine.
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