GWW » Topics » Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events.

These excerpts taken from the GWW 10-Q filed Aug 2, 2006.
Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events. In connection with any unusual or nonrecurring events (it being understood that the events described in Section 4.2 shall result in mandatory adjustment) affecting the Company or of changes in applicable laws, regulations, or accounting principles, the Committee may in its discretion adjust:

 

(i) the terms of Options, Restricted Stock, Stock and Stock Units (including, without limitation, in the number, class and/or price of Shares or Stock Units subject to, or to be distributed in connection with, outstanding Awards or Stock Units) and

 

(ii) the criteria specified in the Award Agreements related to outstanding Awards,

 

whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits intended to be made available under the Plan.

 

14.3.   

18.2 Adjustment of Awards Upon the Occurrence of Certain Unusual or Nonrecurring Events. The Committee may make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (it being understood that the events described in Section 4.4 shall result in mandatory adjustment) affecting the Company or the financial statements of the Company or of changes in applicable laws, regulations, or accounting principles, whenever the Committee determines that such adjustments are appropriate in order to prevent unintended dilution or enlargement of the benefits or potential benefits intended to be made available under this Plan. The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on Participants under this Plan.

 

EXCERPTS ON THIS PAGE:

10-Q (2 sections)
Aug 2, 2006
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