Common use of Adjustment for Change in Capital Stock Clause in Contracts

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1i) pays a dividend or makes a distribution on its Common Stock Stock, in each case, in shares of its Common Stock; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3iii) combines its outstanding shares of Common Stock into a smaller number of shares;; or (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the number and classes of Exercise Price Shares purchasable upon exercise of each Warrant in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind classes of shares of capital stock of the Company which he such holder would have owned immediately following such action if such holder had exercised the Warrant had been exercised immediately prior to such action. The For a dividend or distribution the adjustment shall become effective immediately after the record date in for the case of a dividend or distribution and distribution. For a subdivision, combination or reclassification, the adjustment shall become effective immediately after the effective date in of the case of a subdivision, combination or reclassification. If after an adjustment a the holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall in good faith determine the allocation of the adjusted Exercise Price between or among the classes of capital stock. After such allocation, the exercise privilege and that portion of the Exercise Price applicable to each share of each such class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock the Exercise Shares in this SectionAgreement. Such adjustment shall Notwithstanding the allocation of the Exercise Price between or among shares of capital stock as provided by this Section 7(a), a Warrant may only be made successively whenever any event listed above shall occurexercised in full by payment of the entire Exercise Price in effect at the time of such exercise.

Adjustment for Change in Capital Stock. If Except as provided in Subsection 4(b) below, if the Company: Company shall (1i) pays declare a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than stock, (ii) subdivide its outstanding Common Stock; or , or (5iii) issues issue any shares of its capital stock by reclassification of its Common Stock (including any shares of its capital stock; such reclassification in connection with a consolidation or merger in which the Company is the continuing corporation), then in each such case the Exercise Warrant Price in effect immediately prior to such action and shall be adjusted so that if this Warrant is thereafter exercised, the Holder may receive the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he it would have owned immediately following such action if such it had exercised this Warrant had been exercised immediately prior to such action. Such adjustment shall be made successively whenever such an event shall occur. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination subdivision or reclassification. If after an adjustment a holder of a Warrant the Holder upon exercise of it this Warrant may receive shares of two or more classes of capital stock of the Company, the Company’s Board of Directors of the Company Directors, in good faith, shall determine the allocation of the adjusted Exercise Warrant Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Warrant Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occurSection 4.

Adjustment for Change in Capital Stock. If the Company: (1i) pays a dividend or makes a distribution on its Common Stock Stock, in each case, in shares of its Common Stock; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5v) issues by reclassification of its shares of Common Stock any shares of its capital stock; then the Exercise Price number and classes of shares purchasable upon exercise of each Warrant in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind classes of shares of capital stock of the Company which he such holder would have owned immediately following such action if such holder had exercised the Warrant had been exercised immediately prior to such action. The For a dividend or distribution the adjustment shall become effective immediately after the record date in for the case of a dividend or distribution and distribution. For a subdivision, combination or reclassification, the adjustment shall become effective immediately after the effective date in of the case of a subdivision, combination or reclassification. If after an adjustment a the holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall in good faith determine the allocation of the adjusted Exercise Price between or among the classes of capital stock. After such allocation, the exercise privilege and that portion of the Exercise Price applicable to each share of each such class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionAgreement. Such adjustment shall Notwithstanding the allocation of the Exercise Price between or among shares of capital stock as provided by this Section 9, a Warrant may only be made successively whenever any event listed above shall occurexercised in full by payment of the entire Exercise Price currently in effect.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 6.01. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1i) pays a dividend or makes a distribution on its Common Stock Stock, in each case, in shares of its Common Stock; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3iii) combines its outstanding shares of Common Stock into a smaller number of shares;; or (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; . then the number and classes of Exercise Price Shares purchasable upon exercise of each Warrant in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind classes of shares of capital stock of the Company which he such holder would have owned immediately following such action if such holder had exercised the Warrant had been exercised immediately prior to such action. The For a dividend or distribution the adjustment shall become effective immediately after the record date in for the case of a dividend or distribution and distribution. For a subdivision, combination or reclassification, the adjustment shall become effective immediately after the effective date in of the case of a subdivision, combination or reclassification. If after an adjustment a the holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall in good faith determine the allocation of the adjusted Exercise Price between or among the classes of capital stock. After such allocation, the exercise privilege and that portion of the Exercise Price applicable to each share of each such class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock the Exercise Shares in this SectionAgreement. Such adjustment shall Notwithstanding the allocation of the Exercise Price between or among shares of capital stock as provided by this Section 8(a), a Warrant may only be made successively whenever any event listed above shall occurexercised in full by payment of the entire Exercise Price in effect at the time of such exercise.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stockstock and notify the Warrant Agent of such determination. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If If, after the date of this Agreement, the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which of capital stock of the Company issuable upon the exercise of a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes or series of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes or series of capital stock based on the relative fair market values (determined in good faith by the Board of Directors of the Company) of such class or classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class or series of capital stock shall thereafter again be subject to adjustment on the terms comparable to those applicable to Common Stock in this SectionSection 13. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the CompanyCorporate Borrower: (1) a. pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) b. subdivides its outstanding shares of Common Stock into a greater number of shares; (3) c. combines its outstanding shares of Common Stock into a smaller number of shares; (4) d. makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) e. issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price Rate in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised this Note may receive the aggregate number and kind of shares of capital stock of the Company Corporate Borrower which he such holder would have owned immediately following such action if such Warrant this Note had been exercised immediately prior to such actionaction or immediately prior to the record date applicable thereto, if any. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant this Note, upon exercise of it conversion, may receive shares of two or more classes of capital stock of the CompanyCorporate Borrower, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price Rate of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 3(h). Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which of capital stock of the Company issuable upon the exercise of a Warrant is exercisable (as in effect immediately prior to such action) shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes or series of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes or series of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class or series of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 14. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If Except as provided in Subsection 4(c) below, if the Company: Company shall (1i) pays declare a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than stock, (ii) subdivide its outstanding Common Stock; or , or (5iii) issues issue any shares of its capital stock by reclassification of its Common Stock (including any shares of its capital stock; such reclassification in connection with a consolidation or merger in which the Company is the continuing corporation), then in each such case the Exercise Warrant Price in effect immediately prior to such action and shall be adjusted so that if this Warrant is thereafter exercised, the Holder may receive the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he it would have owned immediately following such action if such it had exercised this Warrant had been exercised immediately prior to such action. Such adjustment shall be made successively whenever such an event shall occur. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination subdivision or reclassification. If after an adjustment a holder of a Warrant the Holder upon exercise of it this Warrant may receive shares of two or more classes of capital stock of the Company, the Company’s Board of Directors of the Company Directors, in good faith, shall determine the allocation of the adjusted Exercise Warrant Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Warrant Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occurSection 4.

Adjustment for Change in Capital Stock. If During the Company: Warrant Exercise Period, if the Company (1) pays a dividend or makes a distribution on its Common Stock Stock, in either case, in shares of its Common Stock; capital stock; (2) forward splits or subdivides its outstanding shares of Common Stock into a greater number of shares; Shares; or (3) reverse splits or combines its outstanding shares of Common Stock into a smaller small number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stockShares; then (x) the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is will become exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive for the aggregate number and kind of shares of capital stock of the Company which he the Holder would have owned immediately following such action if such the Warrant had been exercised immediately prior to such actionaction and (y) the Exercise Price in effect immediately prior to such action shall be proportionately adjusted. The An adjustment made pursuant to this Section 5(a) shall become effective immediately after on the effective date of an event referred to in clauses (1), (2) and (3) above, retroactive to the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision(if any) for such event. If, combination or reclassification. If after an adjustment a holder adjustment, the Holder of a the Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine in good faith the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock the Warrant Shares in this Section. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock payable in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any then outstanding Warrant thereafter exercised after such action may receive the aggregate number and kind of shares of capital stock of the Company which he such holder would have owned immediately following such action if assuming the exercise of such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment pursuant to clause (v) above, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter after such action be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 7. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1a) declares or pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2b) subdivides its outstanding shares of Common Stock into a greater number of shares; (3c) combines its outstanding shares of Common Stock into a smaller number of shares; (4d) makes a distribution on its Common Stock in shares of its capital stock other than Common StockStock or preferred stock; or (5e) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price and the number and kind of shares of capital stock of the Company issuable upon the exercise of the Warrant as in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised Holder may receive the aggregate number and kind of shares of capital stock of the Company which he the Holder would have owned immediately following such action if such the Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant the Holder upon exercise of it the Warrant may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, which shall be made by the Board of Directors of the Company in good faith and on a reasonable basis, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 2. Such adjustment The above adjustments shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company, after the Original Issue Date: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price number and kind of shares of its capital stock issuable upon exercise of any Warrant in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he or she would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 10. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5v) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any this Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company upon the exercise hereof which he the holder would have owned immediately following such action if such the holder had executed the Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment a adjustment, the holder of a this Warrant upon exercise of it hereof may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and allocation the Exercise Price of each class of capital stock thereafter shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occurParagraph.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides or reclassifies its outstanding shares of Common Stock into a greater number of shares; (3) combines or reclassifies its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he or it would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occur. If the occurrence of any event listed above results in an adjustment under subsections (b) or (c) below, no further adjustment shall be made under this subsection (a).

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides or reclassifies its outstanding shares of Common Stock into a greater number of shares; (3) combines or reclassifies its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than its Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he or it would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occur. If the occurrence of any event listed above results in an adjustment under subsections (b) or (c) below, no further adjustment shall be made under this subsection (a).

Adjustment for Change in Capital Stock. If the Company: (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common StockStock or preferred stock; or (5v) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price and the number and kind of shares of capital stock of the Company issuable upon the exercise of each Warrant as in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which that he or she would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant the Warrantholder, upon exercise of it may the Warrants, shall be entitled to receive shares of two or more classes than one class of capital stock of the Company, the Board board of Directors of the Company (the "Board of Directors") shall determine the allocation of the adjusted Exercise Price between the classes of capital stockstock in good faith. After such allocation, the exercise privilege rights and the Exercise Price of with respect to each such class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 10. Such adjustment shall be made successively whenever any event listed set forth above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2i) subdivides or reclassifies its outstanding shares of Common Stock into a greater number of sharesshares or declares a stock dividend on its Common Stock in shares of its capital stock (whether Additional Shares or capital stock of another class); (3ii) combines or reclassifies its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5iii) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price Warrant Number in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he it would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassificationreclassification and shall become effective immediately after the record date in the case of a dividend. If after Such adjustment shall be made successively whenever any event listed above shall occur. If, as a result of an adjustment a holder made pursuant to this paragraph, the Holder of a any Warrant upon exercise of it may thereafter exercised shall become entitled to receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall in good faith determine the allocation of the each adjusted Exercise Price between the or among shares of such classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock payable in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and shall, subject to the number and kind proviso to the first sentence of shares into which a Warrant is exercisable shall all the first paragraph of this Section 8, be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such holder would have owned immediately following such action if assuming the exercise of such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock Class B Shares in shares of its Common StockClass B Shares; (2) subdivides its outstanding shares of Common Stock Class B Shares into a greater number of shares; (3) combines its outstanding shares of Common Stock Class B Shares into a smaller number of shares; (4) makes a distribution on its Common Stock Class B Shares in shares of its capital stock other than Common StockClass B Shares; or (5) issues by reclassification of its Common Stock Class B Shares any shares of its capital stock; , then the Exercise Price Rate in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such holder would have owned immediately following such action if such Warrant had been exercised immediately prior to such actionaction or immediately prior to the record date applicable thereto, if any. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price Rate of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock Class B Shares in this SectionSection 13. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a of capital stock of the Company issuable upon the exercise of this Warrant is exercisable (as in effect immediately prior to such action) shall all be proportionately adjusted appropriately so that the holder Warrantholder may receive, upon exercise of any Warrant thereafter exercised may receive this Warrant, the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such this Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date date, subject to subsection (n) of this Section 6, in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment adjustment, a holder of a Warrant upon exercise of it may Warrantholder shall be entitled to receive shares of two or more classes or series of capital stock of the CompanyCompany upon exercise of this Warrant, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes or series of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class or series of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 6. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If Except as provided in Paragraph 4 (l) below, if the Company: Company shall (1i) pays declare a dividend or makes a distribution on its outstanding Common Stock in shares of its capital stock, (ii) subdivide its outstanding Common Stock; , (2iii) subdivides combine its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; , or (4iv) makes a distribution on its Common Stock in issue any shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock (including any shares of its capital stock; such reclassification in connection with a consolidation or merger in which the Company is the continuing corporation), then in each such case the Exercise Warrant Price in effect immediately prior to such action and shall be adjusted so that if this Warrant is thereafter exercised, the Holder may receive the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he Holder would have owned immediately following such action if such the Holder had exercised this Warrant had been exercised immediately prior to such action. Such adjustment shall be made successively whenever such an event shall occur. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant the Holder upon exercise of it this Warrant may receive shares of two or more classes of capital stock of the Company, the Company's Board of Directors of the Company Directors, in good faith, shall determine the allocation of the adjusted Exercise Warrant Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Warrant Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occurSection 4.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock payable in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of outstanding Common Stock into a smaller number of shares; shares or (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5iv) issues by reclassification of its Common Stock any shares of its capital stock; , then the applicable Exercise Price in effect immediately prior to such action and shall, subject to the number and kind proviso to the first sentence of shares into which a Warrant is exercisable shall all the first paragraph of this Section 8, be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such holder would have owned immediately following such action as if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the applicable Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company shall (1i) pays declare a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than stock, (ii) subdivide its outstanding Common Stock; or , or (5iii) issues issue any shares of its capital stock by reclassification of its Common Stock (including any shares of its capital stock; such reclassification in connection with a consolidation or merger in which the Company is the continuing corporation), then in each such case the Exercise Warrant Price in effect immediately prior to such action and shall be adjusted so that if this Warrant is thereafter exercised, the Holder may receive the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he it would have owned immediately following such action if such it had exercised this Warrant had been exercised immediately prior to such action. Such adjustment shall be made successively whenever such an event shall occur. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination subdivision or reclassification. If after an adjustment a holder of a Warrant the Holder upon exercise of it this Warrant may receive shares of two or more classes of capital stock of the Company, the Company's Board of Directors of the Company Directors, in good faith, shall determine the allocation of the adjusted Exercise Warrant Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Warrant Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occurSection 4.

Adjustment for Change in Capital Stock. If the Company: Company (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2) subdivides its outstanding shares of Common Stock into a greater number of shares; , or (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price shall be adjusted in effect immediately prior to such action and accordance with the formula: E1 = E x O - A where: E1 = the adjusted Exercise Price. E = the current Exercise Price. O = the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock all classes of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately Common Stock outstanding prior to such action. The A = the number of shares of all classes of Common Stock outstanding immediately after such action. In the case of a dividend or distribution, the adjustment shall become effective immediately after the record date in the case for determination of a holders of shares of Common Stock entitled to receive such dividend or distribution distribution, and immediately after the effective date in the case of a subdivision, combination or reclassification, the adjustment shall become effective immediately after the effective date of such corporate action. If after an adjustment a holder the Holder of a this Warrant upon exercise of it hereof may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company (the "Board") shall determine in good faith the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege privileges, the number of shares issuable upon such exercise and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 7. Such The adjustment required by this Section 7(a) shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such Holder would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment pursuant to this Section 8(a) shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the such classes of capital stockstock and shall notify the Warrant Agent of such determination. After such allocation, the exercise privilege Exercise Price with respect to, and the Exercise Price number of underlying shares of, each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such The adjustment pursuant to this Section 8(a) shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. (a) If the Company: (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5v) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. . (b) The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If . (c) If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the CompanyCompany upon the exercise of such Warrant, the Board of Directors of then the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionArticle VI. ---------- (d) Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock Ordinary Shares payable in shares of its Common Stock; Ordinary Shares, (2ii) subdivides its outstanding shares of Common Stock Ordinary Shares into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock outstanding Ordinary Shares into a smaller number of shares; shares or (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5iv) issues by reclassification of its Common Stock Ordinary Shares any shares of its capital stock; , then the applicable Exercise Price in effect immediately prior to such action and shall, subject to the number and kind proviso to the first sentence of shares into which a Warrant is exercisable shall all the first paragraph of this Section 7, be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such holder would have owned immediately following such action as if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the applicable Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock Ordinary Shares in this SectionSection 7. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) pays a dividend or makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price Rate in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he or it would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price Rate between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price Rate of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 10. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such Holder would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment pursuant to this Section 9(a) shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the such classes of capital stock. After such allocation, the exercise privilege Exercise Price with respect to, and the Exercise Price number of underlying shares of, each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such The adjustment pursuant to this Section 8(a) shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common StockEquity; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (54) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which of capital stock of the Company issuable upon the exercise of a Warrant is exercisable (as in effect immediately prior to such action) shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive for the same aggregate Exercise Price the aggregate number and kind of shares of capital stock of the Company which that he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If Such adjustment shall be made successively whenever any event listed above shall occur. If, after an adjustment referred to in clauses (1) through (4) above, a holder of a Warrant Warrants upon exercise of it such Warrant may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of with respect to each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occurSection 10(a).

Adjustment for Change in Capital Stock. If the Company: (1a) pays a dividend or makes a distribution on its New Common Stock in shares of its New Common Stock; (2b) subdivides its outstanding shares of New Common Stock into a greater number of shares; (3c) combines its outstanding shares of New Common Stock into a smaller number of shares; (4d) makes a distribution on its New Common Stock in shares of its capital stock other than the New Common Stock; or (5e) issues by reclassification of its New Common Stock any shares of its capital stock; then the exercise right and the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised Warrants may receive upon exercise of the aggregate Warrants the number and kind of shares of capital stock of the Company which he it would have owned immediately following such action if such Warrant it had been exercised the Warrants immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment a adjustment, the holder of a Warrant upon exercise of it Warrants may receive shares of two or more classes of capital stock of the Company, the Board Company and the holders of Directors a majority of the Company Warrants shall determine mutually agree upon the allocation of the adjusted Exercise Price exercise price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to New Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occurSection 6.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price Warrant in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Holder, after the Warrant thereafter exercised is exercised, may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action, for the aggregate exercise price the Holder would have been required to pay upon such exercise. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment a holder of a Warrant adjustment, the Holder, upon exercise of it the Warrant may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 9. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price number and kind of shares of its capital stock issuable upon exercise of any Warrant in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such Holder would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common StockStock or preferred stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price and the number and kind of shares of capital stock of the Company issuable upon the exercise of a Warrant as in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he or she would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 10. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If on or after the date of this Warrant Agreement and prior to the Expiration Date, the Company: (1) pays a dividend in shares of Common Stock or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such holder would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it or conversion thereof may receive shares of two or more classes or series of capital stock of the Company, the Board of Directors of the Company Company, in good faith, shall determine the allocation of the adjusted Exercise Price between the classes or series of capital stockstock based on the relative fair market values thereof (as determined in good faith by the Board of Directors of the Company). After such allocation, the exercise privilege and the Exercise Price of each class or series of capital stock shall thereafter again be subject to adjustment on terms comparable to those applicable to shares of Common Stock in this SectionSection 13. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and shall be proportionately adjusted (including by adjusting the number and kind definition of shares into which a "Warrant is exercisable shall all be adjusted appropriately Shares") so that after giving effect to such adjustment, the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 17. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays or declares a dividend or makes or declares a distribution on its Common Stock in shares of its Common Stock;Stock or other capital stock of the Company; or (2) subdivides subdivides, combines or reclassifies its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price Rate in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such Holder would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution (the "TIME OF DETERMINATION") and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board board of Directors directors of the Company shall determine reasonably and in good faith the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 12. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Holdings (1i) pays -------------------------------------- a dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company Holdings which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the CompanyHoldings, the Board of Directors of the Company Holdings shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 11. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price Warrant in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 9. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; ; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; ; (3) combines its outstanding shares of Common Stock into a smaller number of shares; ; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price Warrant in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 9. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 9. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock Stock, in each case in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 6.01. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1i) pays a dividend or makes a distribution on its Common Stock Stock, in each case, in shares of its Common Stock; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3iii) combines its outstanding shares of Common Stock into a smaller number of shares;; or (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the number and classes of Exercise Price Shares purchasable upon exercise of each Warrant in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind classes of shares of capital stock of the Company which he such holder would have owned immediately following such action if such holder had exercised the Warrant had been exercised immediately prior to such action. The For a dividend or distribution the adjustment shall become effective immediately after the record date in for the case of a dividend or distribution and distribution. For a subdivision, combination or reclassification, the adjustment shall become effective immediately after the effective date in of the case of a subdivision, combination or reclassification. If after an adjustment a the holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall in good faith determine the allocation of the adjusted Exercise Price between or among the classes of capital stock. After such allocation, the exercise privilege and that portion of the Exercise Price applicable to each share of each such class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock the Exercise Shares in this Section. Such adjustment shall be made successively whenever any event listed above shall occurAgreement.

Adjustment for Change in Capital Stock. If the Company: : (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; ; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; ; or (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Stock Purchase Price in effect immediately prior to such action and shall then be adjusted in accordance with the formula: E(1) = E x O/A where: E(1) = the adjusted Stock Purchase Price. E = the current Stock Purchase Price. O = the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately Common Stock outstanding prior to such action. The A = the number of shares of Common Stock outstanding immediately after such action. (a) In the case of a dividend or distribution the adjustment shall become effective immediately after the record date for determination of holders of shares of Common Stock entitled to receive such dividend or distribution, and in the case of a dividend subdivision or distribution and combination, the adjustment shall become effective immediately after the effective date in the case of a subdivision, combination or reclassification. such corporate action. (b) If after an adjustment a holder the Holder of a the Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Stock Purchase Price between the classes of capital stock. After such allocation, the exercise privilege privilege, the number of shares issuable upon such exercise, and the Exercise Stock Purchase Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Section 3. (c) Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price Rate in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such holder would have owned immediately following such action if such Warrant had been exercised immediately prior to such actionaction or immediately prior to the record date applicable thereto, if any. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price Rate of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 13. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If Except as provided in Paragraph 4 (p) below, if the Company: Company shall (1i) pays declare a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than stock, (ii) subdivide its outstanding Common Stock; or , or (5iii) issues issue any shares of its capital stock by reclassification of its Common Stock (including any shares of its capital stock; such reclassification in connection with a consolidation or merger in which the Company is the continuing corporation), then in each such case the Exercise Warrant Price in effect immediately prior to such action and shall be adjusted so that if this Warrant is thereafter exercised, the Holder may receive the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he it would have owned immediately following such action if such it had exercised this Warrant had been exercised immediately prior to such action. Such adjustment shall be made successively whenever such an event shall occur. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination subdivision or reclassification. If after an adjustment a holder of a Warrant the Holder upon exercise of it this Warrant may receive shares of two or more classes of capital stock of the Company, the Company's Board of Directors of the Company Directors, in good faith, shall determine the allocation of the adjusted Exercise Warrant Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Warrant Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 4. Such adjustment shall be made successively whenever any event listed above shall occur.Redeemable Common Stock Purchase Warrant-$0.80 issued by Digital Power Corporation

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall will thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. The adjustment will become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1i) pays a dividend or makes a distribution on its Company Common Stock in shares of its Company Common Stock; (2ii) subdivides or reclassifies its outstanding shares of Company Common Stock into a greater number of shares; (3iii) combines or reclassifies its outstanding shares of Company Common Stock into a smaller number of shares; (4iv) makes a distribution on its Company Common Stock in shares of its capital stock other than Company Common Stock; or (5v) issues by reclassification of its Company Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he or it would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment adjustment, a holder of a Warrant upon exercise of it may would receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Company Common Stock in this SectionSection 9. Such adjustment shall be made successively whenever any event listed above shall occur. If the occurrence of any event listed above results in an adjustment under subsections (b) or (c) below, no further adjustment shall be made under this subsection (a).

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common StockStock ; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) : pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) ; subdivides its outstanding shares of Common Stock into a greater number of shares; (3) ; combines its outstanding shares of Common Stock into a smaller number of shares; (4) ; makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) or issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend in shares of Common Stock or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it that Warrant may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares;; or (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and shall then be adjusted in accordance with the formula: Where: E1 = the adjusted Exercise Price E = the current Exercise Price O = the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately Common Stock outstanding prior to such action. The action A = the number of shares of Common Stock outstanding immediately after such action In the case of a dividend or distribution the adjustment shall become effective immediately after the record date for determination of holders of shares of Common Stock entitled to receive such dividend or distribution, and in the case of a dividend subdivision or distribution and combination, the adjustment shall become effective immediately after the effective date in the case of a subdivision, combination or reclassificationsuch corporate action. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege privilege, the number of shares issuable upon such exercise, and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 10. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 11. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If at any time after the Companydate hereof, the Corporation: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price number of shares of Common Stock issuable upon conversion of the Series A Preferred Stock and the Conversion Price, as in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable action, shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised holders may receive upon conversion of the aggregate Series A Preferred Stock the number and kind of shares of capital stock of the Company Corporation which he the holders would have owned immediately following such action if such Warrant the holders had been exercised converted the Series A Preferred Stock immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant Series A Preferred Stock upon exercise of it conversion may receive shares of two or more classes or series of capital stock of the CompanyCorporation, the Board of Directors of the Company Corporation shall determine the allocation of the adjusted Exercise Conversion Price between the classes or series of capital stock. After such allocation, the exercise privilege and the Exercise Conversion Price of each class or series of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; ; (3) combines its outstanding shares of Common Stock into a smaller number of shares; ; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price Unit Purchase Warrant in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Unit Purchase Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Unit Purchase Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Unit Purchase Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 9. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock payable in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the applicable Exercise Price in effect immediately prior to such action and shall, subject to the number and kind proviso to the first sentence of shares into which a Warrant is exercisable shall all the first paragraph of this Section 8, be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such holder would have owned immediately following such action as if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the applicable Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Holdings (1i) pays a -------------------------------------- dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company Holdings which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the CompanyHoldings, the Board of Directors of the Company Holdings shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If at any time after the date hereof, the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the number of shares of Common Stock purchasable upon exercise of the Warrants and the Exercise Price Price, as in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable action, shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised holders may receive upon exercise of the Warrants and payment of the same aggregate consideration the number and kind of shares of capital stock of the Company which he the holders would have owned immediately following such action if such Warrant the holders had been exercised the Warrants immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes or series of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes or series of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class or series of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: : (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; ; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; ; (3) combines its outstanding shares of Common Stock into a smaller number of shares; number; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect Warrant Number immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may shall receive the aggregate number and kind of shares of capital stock of the Company which he such Holder would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder Holder upon exercise of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall reasonably determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price number of shares of each such class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 4.02. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. (a) If the CompanyBorrower: (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5v) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company Borrower which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. . (b) The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If . (c) If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the CompanyBorrower upon the exercise of such Warrant, then the Board of Directors of the Company Borrower shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Article VI. (d) Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues (by reclassification of its Common Stock Stock) any shares of its capital stockstock (including any such reclassification in connection with a consolidation or merger in which the Company is the surviving entity); then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such Holder would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder Holder of a Warrant upon exercise of it such Warrant may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company Board, in good faith, shall reasonably determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common StockStock or preferred stock (if any); or (5v) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price Rate in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such person would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price Rate between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price Rate of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock;Stock or other capital stock of the Company; or (2) subdivides subdivides, combines or reclassifies its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price Rate in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such Holder would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution (the "Time of Determination") and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder Holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board board of Directors directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 12. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If on or after the date of this Warrant Agreement and prior to the Expiration Date, the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which of capital stock of the Company issuable upon the exercise of a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes or series of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes or series of capital stock based on the relative fair market values (determined by the Board of Directors of the Company) of such class or classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class or series of capital stock shall thereafter again be subject to adjustment on the terms comparable to those applicable to Common Stock in this SectionSection 12. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. (a) If the Company: Company (1i) pays a dividend in shares of Class A Common Stock or makes a distribution on its Class A Common Stock in shares of its Class A Common Stock; , (2ii) subdivides its outstanding shares of Class A Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Class A Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Class A Common Stock in shares of its capital stock other than Class A Common Stock; or Stock or (5v) issues by reclassification of its Class A Common Stock any shares of its capital stock; , then the Exercise Index Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant Certificate thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he such holder would have owned immediately following such action if such Warrant Certificate had been exercised immediately prior to such action. . (b) The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant Certificate upon exercise of it that Certificate may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Index Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Index Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Class A Common Stock in this SectionArticle IV. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of 22 24 capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment adjustment, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1i) pays a dividend or makes a distribution on its Common Stock Stock, in each case, in shares of its Common Stock; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3iii) combines its outstanding shares of Common Stock into a smaller number of shares;; or (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; . then the number and classes of Exercise Price Shares purchasable upon exercise of each Warrant in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind classes of shares of capital stock of the Company which he such holder would have owned immediately following such action if such holder had exercised the Warrant had been exercised immediately prior to such action. The For a dividend or distribution the adjustment shall become effective immediately after the record date in for the case of a dividend or distribution and distribution. For a subdivision, combination or reclassification, the adjustment shall become effective immediately after the effective date in of the case of a subdivision, combination or reclassification. If after an adjustment a the holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall in good faith determine the allocation of the adjusted Exercise Price between or among the classes of capital stock. After such allocation, the exercise privilege and that portion of the Exercise Price applicable to each share of each such class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock the Exercise Shares in this SectionAgreement. Such adjustment shall Notwithstanding the allocation of the Exercise Price between or among shares of capital stock as provided by this Section 7(a), a Warrant may only be made successively whenever any event listed above shall occurexercised in full by payment of the entire Exercise Price in effect at the time of such exercise.

Adjustment for Change in Capital Stock. If the Company: (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3iii) combines its outstanding shares of Common Stock into a smaller number of shares;; or (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; . then the number and classes of Exercise Price Shares purchasable upon exercise of each Warrant in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind classes of shares of capital stock of the Company which he such holder would have owned immediately following such action if such holder had exercised the Warrant had been exercised immediately prior to such action. The For a dividend or distribution the adjustment shall become effective immediately after the record date in for the case of a dividend or distribution and distribution. For a subdivision, combination or reclassification, the adjustment shall become effective immediately after the effective date in of the case of a subdivision, combination or reclassification. If after an adjustment a the holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall in good faith determine the allocation of the adjusted Exercise Price between or among the classes of capital stock. After such allocation, the exercise privilege and that portion of the Exercise Price applicable to each share of each such class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock the Exercise Shares in this SectionAgreement. Such adjustment shall Notwithstanding the allocation of the Exercise Price between or among shares of capital stock as provided by this Section 8(a), a Warrant may only be made successively whenever any event listed above shall occurexercised in full by payment of the entire Exercise Price in effect at the time of such exercise.

Adjustment for Change in Capital Stock. If the Company: Company (1i) pays a dividend or makes a distribution on its Common Stock payable in shares of its Common Stock; , (2ii) subdivides its outstanding shares of Common Stock into a greater number of shares; , (3iii) combines its outstanding shares of Common Stock into a smaller number of shares; , (4iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or Stock or (5v) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in shall be proportionately adjusted so that, after giving effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that Section 8(g), the holder of any Warrant thereafter exercised after such action may receive the aggregate number and kind of shares of capital stock of the Company which he such holder would have owned immediately following such action if assuming the exercise of such Warrant had been exercised immediately prior to such action, or, if applicable, the record date for such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment pursuant to clause (v) above, a holder of a Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock shall thereafter after such action be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (1a) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2b) subdivides its outstanding shares of Common Stock into a greater number of shares; (3c) combines its outstanding shares of Common Stock into a smaller number of shares; (4d) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5e) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise exercise right and the Current Warrant Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be adjusted appropriately so that the holder of any Warrant thereafter exercised Warrants may receive upon exercise of the aggregate Warrants the number and kind of shares of capital stock of the Company which he it would have owned immediately following such action if such Warrant it had been exercised the Warrants immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If If, after an adjustment a adjustment, the holder of a Warrant upon exercise of it Warrants may receive shares of two or more classes of capital stock of the Company, the Board Company and the holders of Directors a majority of the Company Warrants shall determine mutually agree upon the allocation of the adjusted Exercise Price exercise price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Current Warrant Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this Section. Such adjustment shall be made successively whenever any event listed above shall occurSection 5.

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides or reclassifies its outstanding shares of Common Stock into a greater number of shares; (3) combines or reclassifies its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; then the Applicable Exercise Price in effect immediately prior to such action and the number and kind of shares into which a Warrant is exercisable shall all be proportionately adjusted appropriately so that the holder of any Numbered Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he or it would have owned immediately following such action if such Numbered Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Numbered Warrant upon exercise of it may receive shares of two or more classes of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Applicable Exercise Price between the classes of capital stock. After such allocation, the exercise privilege and the Applicable Exercise Price of each class of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 8. Such adjustment shall be made successively whenever any event listed above shall occur. If the occurrence of any event listed above results in an adjustment under subsections (b) or (c) below, no further adjustment shall be made under this subsection (a).

Adjustment for Change in Capital Stock. If the Company: (1) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2) subdivides its outstanding shares of Common Stock into a greater number of shares; (3) combines its outstanding shares of Common Stock into a smaller number of shares; (4) makes a distribution on its Common Stock stock in shares of its capital stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stock; , then the Exercise Price in effect immediately prior to such action and the number and kind of shares into which of capital stock of the Company issuable upon the exercise of a Warrant is exercisable (as in effect immediately prior to such action) shall all be proportionately adjusted appropriately so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the Company which he would have owned immediately following such action if such Warrant had been exercised immediately prior to such action. The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately after the effective date in the case of a subdivision, combination or reclassification. If after an adjustment a holder of a Warrant upon exercise of it may receive shares of two or more classes or series of capital stock of the Company, the Board of Directors of the Company shall determine the allocation of the adjusted Exercise Price between the classes or series of capital stock. After such allocation, the exercise privilege and the Exercise Price of each class or series of capital stock shall thereafter be subject to adjustment on terms comparable to those applicable to Common Stock in this SectionSection 13. Such adjustment shall be made successively whenever any event listed above shall occur.