Ratio

Ratio. The amount obtained by dividing the average of the daily high and low trading prices per share of VEC Common Stock as reported on the NYSE Composite Tape (the "NYSE Tape") on each of the last 15 consecutive full NYSE trading days (the "Averaging Period") ending on and including the trading day preceding the Distribution Date (as defined in the Distribution Agreement) (the "Company Price") by the difference between (a) the Company Price and (b) the product of (1) the Per Share Merger... Consideration (as defined in the Merger Agreement) and (2) the average of the daily high and low prices per share of Acquiror Common Stock (as defined in the Merger Agreement) as reported on the NYSE Tape during the Averaging Period. View More

Ratio. Such ratio of the grant-date value of an Option to the Fair Market Value of the Stock underlying the Option as may be determined by the Committee from time to time for the purposes to calculating the number of Options to be granted to a Director, provided that any adjustment in such ratio shall be subject to the approval of the Board.