VMware 2012 Annual Report Download - page 125

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consideration), any Award granted hereunder will pertain and apply to the securities which a holder of the number of
shares of stock of the Company then subject to the Award is entitled to receive, but a dissolution or liquidation of the
Company or a merger or consolidation in which the Company is not the surviving corporation or in which a majority of
its outstanding shares are so converted or exchanged will cause every Award hereunder to terminate; provided that if any
such dissolution, liquidation, merger or consolidation is contemplated, the Company must either (a) arrange for any
corporation succeeding to the business and assets of the Company to issue to the Participants replacement Awards
(which, in the case of Incentive Stock Options, satisfy, in the determination of the Committee, the requirements of
Section 424 of the Code) on such corporation’s stock which will to the extent possible preserve the value of the
outstanding Awards or (b) contingent upon consummation of such transaction, make the outstanding Awards fully
exercisable or cause all of the applicable restrictions to which outstanding Stock Awards are subject to lapse, in each
case, on a basis that gives the holder of the Award a reasonable opportunity, as determined by the Committee, following
the exercise of the Award or the issuance of shares of Common Stock, as the case may be, to participate as a stockholder
in any such dissolution, liquidation, merger or consolidation and the Award will terminate immediately following
consummation of any such transaction. The existence of the Plan will not prevent any such change or other transaction,
and no Participant hereunder has any right except as herein expressly set forth. Notwithstanding the foregoing provisions
of this Section 7(m), Awards subject to and intended to satisfy the requirements of Section 409A of the Code will be
construed and administered consistent with such intent.
14