Common use of ADJUSTMENT CLAUSE Clause in Contracts

ADJUSTMENT CLAUSE. If, before the Options are fully exercised, the number of shares in the Company is altered through (i) an amendment of the number of shares without amendments in the Company’s share capital (for instance by share split or merger of shares), or (ii) issuance of new shares based on a share capital increase by fund issue, or (iii) reduction of the share capital by redemption of shares without distribution to the shareholders, the number of Option Shares shall be adjusted (increase or decrease) accordingly. Other additions or reductions to the share capital, including, but not limited to changes to the share capital through issuance of new shares, mergers, demergers or share capital reductions shall not affect the number of Option Shares granted under this Agreement.