These excerpts taken from the GWW 10-Q filed Aug 2, 2006.
Article 4. Shares Subject to Plan.
4.1. Shares Available for Grants. Subject to adjustment as provided in Section 4.2, the number of Shares reserved for delivery under the Plan is 500,000.* If any Shares subject to any Award are forfeited or such Award otherwise terminates without the delivery of such Shares, the Shares subject to such Award, to the extent of any such forfeiture or termination, shall again be available for delivery under the Plan. Shares delivered pursuant to the Plan may be treasury stock or newly issued Shares.
4.2. Adjustments in Authorized Shares. In the event of any change in corporate capitalization (such as a stock split, stock dividend, spin-off, or other distribution of stock or property of the Company or a Subsidiary), or any merger, consolidation, separation, reorganization (whether or not tax-free) or any partial or complete liquidation of the Company, the Committee shall appropriately and equitably adjust the number and class of Shares which may be delivered under Section 4.1 and such adjustment shall be binding and conclusive on all parties.
* As adjusted to reflect the Companys 1998 two-for-one stock split.
Section 3. Shares Subject to the Plan.