3M 2015 Annual Report Download - page 146
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Please find page 146 of the 2015 3M annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.and(c)theappropriateFairMarketValueandotherpricedeterminationsforsuchAwards.Intheeventofanyotherchangeaffecting
theCommonStockoranydistribution(other than normal cashdividends)toholdersofCommon Stock, such adjustments inthe
numberorkindofsharesandthepurchaseprices,FairMarketValueandotherpricedeterminationsoftheaffectedAwardsasthe
Committeeshall,initssolediscretion,determineareequitable,shallbemadeandshallbeeffectiveandbindingforallpurposesof
suchoutstandingAwards.Intheeventofacorporatemerger,consolidation,acquisitionofassetsorstock,separation,reorganization
or liquidation, the Committee shall be authorized to cause the Company to issue or assume stock options, whether or not in a
transactiontowhichsection424(a)oftheCodeapplies,bymeansofsubstitutionofnewstockoptionsforpreviouslyissuedstock
options or an assumption of previously issued stock options. In such event, the aggregate number of shares of Common Stock
availableforissuanceordeliveryunderthe2005PrograminaccordancewithSection3willbeincreasedtoreflectsuchsubstitution
orassumption,andsuchsharessubstitutedorassumedshallnotbecountedagainsttheindividualParticipantmaximumsetforthin
Section6.
SECTION13TERM,AMENDMENT,AND
TERMINATIONOFTHE2005PROGRAM
The2005Programshallbecomeeffectiveonthedateitisapprovedbytherequisitevoteofthestockholdersof3MCompany,and
shallexpire(unlessitisterminatedbeforethen)onthethirdanniversaryofsucheffectivedate.Suchexpirationshallnotadversely
affectAwardsgrantedunderthe2005Programpriortosuchexpirationdate.TheCommitteemayatanytimeamendorterminate
the2005Program,exceptthatnoamendmentorterminationshalladverselyaffectAwardsgrantedunderthe2005Programpriorto
the effective date of such amendment or termination; provided, however, that no amendment shall be made without the prior
approvaloftheBoardofDirectorsandtheholdersofamajorityoftheissuedandoutstandingsharesofCommonStockrepresented
andentitledtovoteonsuchamendmentwhichwould(i)increasetheaggregatenumberofsharesofCommonStockavailablefor
issuanceordeliveryunderthe2005PrograminaccordancewithSection3(exceptforadjustmentsmadeinaccordancewithSection
12),(ii)permitthegrantingofAwardswithpurchasepriceslowerthanthosespecifiedinSection6,or(iii)beamaterialamendment
forwhichstockholderapprovalisrequiredbyapplicablelaw,regulationorstockexchangerule.
SECTION14CHANGEINCONTROL
(a) For purposes of this Section 14, the following words and phrases shall have the meanings indicated below, unless the
contextclearlyindicatesotherwise:
(i)"Person"shallhavethemeaningassociatedwiththattermasitisusedinSections13(d)and14(d)oftheAct.
(ii) "Affiliates and Associates" shall have the meanings assigned to such terms in Rule 12b-2 promulgated under
Section12oftheAct.
(iii)"Act"meanstheSecuritiesExchangeActof1934.
(iv) "Continuing Directors" shall have the meaning assigned to such term in Article Thirteenth of the Restated
CertificateofIncorporationof3MCompany.
(b) Notwithstanding any other provision of this 2005 Program to the contrary. all outstanding Options and Stock
AppreciationRightsshall(i)becomeimmediatelyexercisableinfullfortheremainderoftheirrespectivetermsupontheoccurrence
ofaChangeinControloftheCompany,and(ii)remainexercisableinfullforaminimumperiodofsixmonthsfollowingtheChange
inControl;provided,however,thatinnoeventshallanyOptionorStockAppreciationRightbeexercisablebeyondtheoriginal
expirationdate.
(c) Similarly, all restrictions regarding the Restricted Period or the satisfaction of other Conditions prescribed by the
Committee,ifany,withrespecttograntsofRestrictedStockorotherStockAwards,shallautomaticallylapse,expire,andterminate
andtheParticipantshallbeimmediatelyentitledtoreceiveastockcertificateforthenumberofsharesofCommonStockrepresented
bytheRestrictedStockorStockAwardsupontheoccurrenceofaChangeinControl.
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