EFTA Document EFTA01393171

a merger or consolidation, binary stock options may be adjusted so that the cash. securities or other property received by stockholders with respect to a single share of that underlying security becomes the underlying interest. Alternatively. an adjustment panel may determine to fix a value for some or all of the non-cash property received. Where holders of an underlying security receive only cash or an adjustment panel determines to fix a cash value for all non-cash property received, t