Amendment Number Two to the Walgreen Co. Broad Based Employee Stock Option Plan

Contract Categories: Human Resources › Bonus & Incentive Agreements
Summary

This amendment updates the Walgreen Co. Broad Based Employee Stock Option Plan, effective October 11, 2006. It clarifies how the number and type of shares, as well as option prices, will be adjusted if there are changes in the company's stock structure, such as stock splits, mergers, or other corporate events. The Committee is given authority to make these adjustments to ensure fairness, and its decisions are final.

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EX-10.5 6 ex10e.htm BROAD BASED EMPLOYEE STOCK OPTION PLAN AMENDMENT Broad Based Employee Stock Option Plan Amendment

Exhibit 10(e)

AMENDMENT NUMBER TWO TO THE WALGREEN CO. BROAD BASED EMPLOYEE STOCK OPTION PLAN


Effective October 11, 2006, the second paragraph of Article 4 of the Plan is amended in its entirety to read as follows:

"In the event of any change (increase or decrease) in the outstanding shares of the Company by reason of a stock dividend, recapitalization, merger, consolidation, stock split, split up, spin off, combination or exchange of shares, reorganization, liquidation, or other change in corporate capitalization, the aggregate number and class of Shares available under this Plan, the number and class of Shares subject to each outstanding Option and the Option prices shall be appropriately and proportionately adjusted by the Committee to prevent dilution or enlargement of rights and preserve the value of outstanding awards; provided that fractional Shares shall be rounded to the nearest whole Share. The Committee’s determination shall be final and conclusive."