3M 2015 Annual Report Download - page 134

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adjustmentsinthenumberorkindofsharesandtheexerciseprices,FairMarketValueandotherpricedeterminationsoftheaffected
AwardsastheCommitteeshall,initssolediscretion,determineareequitable,shallbemadeandshallbeeffectiveandbindingforall
purposesofsuchoutstandingAwards.Intheeventofacorporatemerger,consolidation,acquisitionofassetsorstock,separation,
reorganizationorliquidation,theCommitteeshallbeauthorizedtocausetheCompanytoassumeoutstandingemployeeawardsor
issuereplacementAwardstoaffectedemployees,whetherornotinatransactiontowhichsection424(a)oftheCodeapplies,andto
makesuchadjustmentsinthetermsofsuchawardsasitshalldeemappropriateinordertomaintainreasonablecomparabilityor
equitabletreatmentbetweentheassumedawardsandtheAwardsgrantedunderthisPlanassoadjusted.
12.Withholding.
PriortothepaymentorsettlementofanyAward,theParticipantmustpay,ormakearrangementssatisfactorytotheCompanyforthe
paymentof,anyandalltaxwithholdingthatintheopinionoftheCompanyisrequiredbylaw.TheCompanyoranyAffiliateshall
havetherighttodeductapplicabletaxesfromanyAwardpayment,towithholdfromthesharesofCommonStockbeingissuedor
deliveredinconnectionwithanAwardanappropriatenumberofsharesforthepaymentoftaxesrequiredbylaw,ortotakesuch
otheractionasmaybenecessaryintheopinionoftheCompanyorsuchAffiliatetosatisfyallobligationsforthewithholdingofsuch
taxes.
13.Transferability.
ExceptaspermittedinthisSection13,noAwardgrantedunderthisPlanmaybeassigned,transferred(otherthanatransferbywill
orthelawsofdescentanddistributionasprovidedinSection7),pledged,orhypothecated(whetherbyoperationoflawor
otherwise).AwardsgrantedunderthisPlanshallnotbesubjecttoexecution,attachment,orsimilarprocess.TheCommitteemay,in
itssolediscretion,permitindividualParticipantstotransfertheownershipofalloranyoftheirNonqualifiedOptionsgrantedunder
thisPlanto(i)thespouse,formerspouse,childrenorgrandchildrenofsuchParticipant(“ImmediateFamilyMembers”),(ii)atrustor
trustsfortheexclusivebenefitofsuchImmediateFamilyMembers,or(iii)apartnershipinwhichsuchImmediateFamilyMembers
aretheonlypartners,providedthat(x)theremaybenoconsiderationforanysuchtransfer,and(y)subsequenttransfersof
transferredNonqualifiedOptionsshallbeprohibitedexceptthoseinaccordancewithSection7(bywillorthelawsofdescentand
distribution).TheCommitteemay,initssolediscretion,createfurtherconditionsandrequirementsforthetransferofNonqualified
Options.Followingtransfer,anysuchNonqualifiedOptionsshallcontinuetobesubjecttothesametermsandconditionsaswere
applicableimmediatelypriortotransfer.TheeventscausingterminationofAwardsinaccordancewithSection7hereofshall
continuetobeappliedwithrespecttotheoriginalParticipant,followingwhichtheNonqualifiedOptionsshallbeexercisablebythe
transfereeonlytotheextent,andfortheperiodsspecifiedinSection7.
14.Validity.
IntheeventanyprovisionofthisPlanshouldbedeterminedtobeillegalorinvalidforanyreason,itshallnotaffecttheremaining
provisionsofthePlanwhichshallremainineffectasiftheillegalorinvalidprovisionhadneverbeenincludedherein.
15.GoverningLaw.
TheprovisionsofthisPlanshallbegovernedby,andinterpretedandconstruedinaccordancewith,thelawsoftheStateof
Delaware.
16.EffectiveDate,Term,AmendmentandTerminationofthePlan.
ThisPlanwillbecomeeffectiveonthedateitisapprovedbytherequisitevoteofthestockholdersof3MCompany,andshallexpire
(unlessitisterminatedbeforethen)onthetenthanniversaryofsucheffectivedate.Suchexpirationshallnotadverselyaffect
AwardsgrantedunderthisPlanpriortosuchexpirationdate.TheCommitteemayatanytimeamendorterminatethisPlan,except
thatnoamendmentorterminationshalladverselyaffectAwardsgrantedunderthisPlanpriortotheeffectivedateofsuch
amendmentortermination;provided,however,thatnoamendmentshallbemadewithoutthepriorapprovaloftheBoardof
DirectorsandtheholdersofamajorityoftheissuedandoutstandingsharesofCommonStockrepresentedandentitledtovoteon
suchamendmentwhichwould(i)increasetheaggregatenumberofsharesofCommonStockavailableforissuanceordeliveryunder
thisPlaninaccordancewithSection4(exceptfor
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