Book Value Percentage Change

Book Value Percentage Change. The percentage change (carried to four places) in common stockholders' equity per share of Common Stock on a fully diluted basis determined in accordance with generally accepted accounting principals consistently applied. Book Value Percentage Change shall be determined from calendar year-end to calendar year-end on the basis of Alleghany's audited consolidated balance sheet in Alleghany's Annual Report to Stockholders for the latest such year-end; provided, however, that if the Book Value... Percentage Change is to be determined herein as of any fiscal quarter-end, then the percentage change (carried to four places) in the common stockholders' equity per share of Common Stock shall be measured from the most recent fiscal year-end to the applicable quarter-end (based on the common stockholders' equity per share announced in Alleghany's Quarterly Report on Form 10-Q as filed with the U.S. Securities and Exchange Commission). In the event that (i) any cash dividends or other similar distributions occur with respect to Common Stock or any rights offering, recapitalization, forward split or reverse split, reorganization, merger, consolidation, spin- off, combination, repurchase or share exchange, or other similar corporate transaction or event occurs that affects the common stockholders' equity per share of Common Stock but is not taken into account under generally accepted accounting principles consistently applied and (ii) the Committee determines that an adjustment in the Book Value Percentage Change is appropriate in order to prevent dilution or enlargement of the rights of Participants under the Plan, then the Committee shall make such equitable adjustment in the applicable Book Value Percentage Change as the Committee in its sole discretion deems appropriate, and the determination of the Committee with respect thereto shall be final and binding View More