This excerpt taken from the TGI DEF 14A filed Jun 22, 2006.
Adjustments Upon Changes in Capitalization, Merger or Sale of Assets
Subject to any required action by Triumphs stockholders, the number and kind of shares covered by each outstanding award, in the minimum and maximum limits set forth in the Directors Plan, will be adjusted as determined by the Board in the event of a reorganization, recapitalization, stock split, reverse stock split, spin-off, split-off, split-up, stock dividend, issuance of stock rights, merger, consolidation,
combination of Triumphs stock, or any other increase or decrease in the number of issued shares of Triumphs stock effected without receipt of consideration by Triumph.
In the event of a change of control of Triumph, as defined in the Directors Plan or if Proposal No. 3 is approved, in the Directors Plan or an award agreement, each award then outstanding shall become immediately vested, and in the case of stock options, exercisable to the full extent of the shares of Common Stock.