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

Adjustment for Change in Capital Stock. If the Company: (i) pays a dividend or makes a distribution on its Common Stock, in either case in shares of its Common Stock; (ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (iii) combines its outstanding shares of Common Stock into a smaller number of shares; (iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (v) issues by reclassification of its Common Stock any shares of its capital stock, then the number of shares of Common Stock issuable upon exercise of each Warrant immediately prior to such action shall be proportionately adjusted so that the holder of any Warrant thereafter exercised shall 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. 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: (iA) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (iiB) subdivides its outstanding shares of Common Stock into a greater number of shares; (iiiC) combines its outstanding shares of Common Stock into a smaller number of shares; (ivD) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (vE) issues by reclassification of its Common Stock any shares of its capital stock, ; then the number of shares of Common Stock issuable upon exercise of each Warrant Exercise Price in effect immediately prior to such action shall be proportionately adjusted so that the holder Holder may receive, upon exercise or exchange of any this Warrant thereafter exercised shall receive and payment of the same aggregate consideration, the 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 Holder had exercised or exchanged 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. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: : (i) pays a dividend or makes a distribution on its Common Stock, ordinary shares in either case in shares of its Common Stock; ordinary shares; (ii) subdivides its outstanding ordinary shares of Common Stock into a greater number of shares; ; (iii) combines its outstanding ordinary shares of Common Stock into a smaller number of shares; ; (iv) makes a distribution on its Common Stock ordinary shares in shares of its capital stock other than Common Stockordinary shares; or or (v) issues by reclassification of its Common Stock ordinary shares any shares of its capital stock, then the number of ordinary shares of Common Stock issuable upon exercise of each Warrant immediately prior to such action shall be proportionately adjusted so that the holder of any Warrant thereafter exercised shall 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. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: : (i) pays a dividend or makes a distribution on its Common Stock, common stock in either case in shares of its Common Stock; common stock; (ii) subdivides its outstanding shares of Common Stock common stock into a greater number of shares; ; (iii) combines its outstanding shares of Common Stock common stock into a smaller number of shares; ; (iv) makes a distribution on its Common Stock common stock in shares of its capital stock other than Common Stockcommon stock; or or (v) issues by reclassification of its Common Stock common stock any shares of its capital stock, then the number of shares of Common Stock common stock issuable upon exercise of each Warrant immediately prior to such action shall be proportionately adjusted so that the holder of any Warrant thereafter exercised shall 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. 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: (iA) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (iiB) subdivides its outstanding shares of Common Stock into a greater number of shares; (iiiC) combines its outstanding shares of Common Stock into a smaller number of shares; (ivD) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (vE) issues by reclassification of its Common Stock any shares of its capital stock, ; then the number and kind of shares of Common Stock issuable securities purchasable upon the exercise of each this Warrant and the Exercise Price in effect immediately prior to such action shall be proportionately adjusted so that Holder may receive upon exercise of this Warrant and payment of the holder of any Warrant thereafter exercised shall receive same aggregate consideration 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 Holder had exercised this 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. 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: (iA) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (iiB) subdivides its outstanding shares of Common Stock into a greater number of shares; (iiiC) combines its outstanding shares of Common Stock into a smaller number of shares; (ivD) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (vE) issues by reclassification of its Common Stock any shares of its capital stock, ; then the number and kind of shares of Common Stock issuable securities purchasable upon exercise or exchange of each this Warrant and the Exercise Price in effect immediately prior to such action shall each be proportionately adjusted so that the holder Holder may receive upon exercise or exchange of any this Warrant thereafter exercised shall receive and payment of the same aggregate consideration, the 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 Holder had exercised or exchanged 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. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: : (i) pays a dividend or makes a distribution on its Common Stock, Stock in either case in shares of its Common Stock; ; (ii) subdivides its outstanding shares of Common Stock into a greater number of shares; ; (iii) combines its outstanding shares of Common Stock into a smaller number of shares; ; (iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or or (v) issues by reclassification of its Common Stock any shares of its capital stock, then the number of shares of Common Stock issuable upon exercise of each Warrant immediately prior to such action shall be proportionately adjusted so that the holder of any Warrant thereafter exercised shall 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. 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: (iA) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (iiB) subdivides its outstanding shares of Common Stock into a greater number of shares; (iiiC) combines its outstanding shares of Common Stock into a smaller number of shares; (ivD) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (vE) issues by reclassification of its Common Stock any shares of its capital stock, ; then the number and kind of shares of Common Stock issuable securities purchasable upon exercise or exchange of each this Warrant and the Exercise Price in effect immediately prior to such action shall each be proportionately adjusted so that the holder Holder may receive upon exercise or exchange of any this Warrant thereafter exercised shall receive and payment of the same aggregate consideration, the 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 Holder had exercised or exchanged 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. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (i) pays a dividend or makes a distribution on its Common Stock, Stock in either case in shares of its Common Stock; (ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (iii) combines its outstanding shares of Common Stock into a smaller number of shares; (iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (v) issues by reclassification of its Common Stock any shares of its capital stock, then the number of shares of Common Stock issuable upon exercise of each Warrant immediately prior to such action shall be proportionately adjusted so that the holder of any Warrant thereafter exercised shall 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. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (i) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (iii) combines its outstanding shares of Common Stock into a smaller number of shares; (iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (v) issues by reclassification of its Common Stock any shares of its capital stock, stock (including any such reclassification in connection with a consolidation or merger in which the Company is the surviving entity); then the number of shares of Common Stock issuable upon exercise of each Warrant Exercise Price in effect immediately prior to such action shall be proportionately adjusted so that the holder Holder of any the Warrant thereafter exercised shall 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. 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: (iA) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (iiB) subdivides its outstanding shares of Common Stock into a greater number of shares; (iiiC) combines its outstanding shares of Common Stock into a smaller number of shares; (ivD) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (vE) issues by reclassification of its Common Stock any shares of its capital stock, ; then the number and kind of shares of Common Stock issuable securities purchasable upon exercise or exchange of each this Warrant and the Exercise Price in effect immediately prior to such action shall each be proportionately adjusted so that the holder Holder may receive upon exercise or exchange of any this Warrant thereafter exercised shall receive and payment of the same aggregate consideration, the 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 Holder had exercised or exchanged 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. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company:: -------------------------------------- (i1) pays a dividend or makes a distribution on its Common Stock, in either case each case, in shares of its Common Stock; (ii2) subdivides its outstanding shares of Common Stock into a greater number of shares; (iii3) combines its outstanding shares of Common Stock into a smaller number of shares; (iv4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (v5) issues by reclassification of its shares of Common Stock any shares of its capital stock, ; then the number and classes of shares of Common Stock issuable purchasable upon exercise of each this Warrant in effect immediately prior to such action shall be proportionately adjusted so that the holder of any this Warrant thereafter exercised shall 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 immediately after the effective date in the case of distribution. For a subdivision, combination or reclassification. Such , the adjustment shall be made successively whenever any event listed above shall occurbecome effective immediately after the effective date of the subdivision, combination or reclassification.

Adjustment for Change in Capital Stock. If the Company: (i1) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (ii2) subdivides or reclassifies its outstanding shares of Common Stock into a greater number of shares; (iii3) combines or reclassifies its outstanding shares of Common Stock into a smaller number of shares; (iv4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (v5) issues by reclassification of its Common Stock any shares of its capital stock, stock (other than reclassifications arising solely as a result of a change in the par value or no par value of the Common Stock); then the number of shares of Common Stock issuable upon exercise of each Warrant Number in effect immediately prior to such action shall be proportionately adjusted so that the holder of any Warrant thereafter exercised shall 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. 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: (ia) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (iib) subdivides its outstanding shares of Common Stock into a greater number of shares; (iiic) combines its outstanding shares of Common Stock into a smaller number of shares; (ivd) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (ve) issues by reclassification of its Common Stock any shares of its capital stock, ; then the number of shares of Common Stock issuable upon exercise of each Warrant Exercise Price in effect immediately prior to such action shall be proportionately adjusted so that the holder Holder may receive, upon exercise or exchange of any this Warrant thereafter exercised shall receive and payment of the same aggregate consideration, the 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 Holder had exercised or exchanged 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. 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: (iA) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (iiB) subdivides its outstanding shares of Common Stock into a greater number of shares; (iiiC) combines its outstanding shares of Common Stock into a smaller number of shares; (ivD) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (vE) issues by reclassification of its Common Stock any shares of its capital stock, ; then the number of shares of Common Stock issuable upon exercise of each Warrant Exercise Price in effect immediately prior to such action shall be proportionately adjusted so that the holder Holder may receive, upon exercise or exchange of any this Warrant thereafter exercised shall receive and payment of the same aggregate consideration, the 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 Holder had exercised or exchanged 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. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (i) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (ii) subdivides or reclassifies its outstanding shares of Common Stock into a greater number of sharesshares of Common Stock; (iii) combines or reclassifies its outstanding shares of Common Stock into a smaller number of shares; (iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (viv) issues by reclassification of its Common Stock any shares of its capital stock, ; then the number of shares of Common Stock issuable upon exercise of each Warrant Number and the Purchase Price in effect immediately prior to such action shall be proportionately adjusted so that the holder of any Warrant Registered Holder upon exercise thereafter exercised shall may receive the aggregate number and kind of shares of capital stock of the Company which he the Registered Holder would have owned immediately following such action if such this Warrant had been exercised immediately prior to such action for the aggregate consideration payable 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. 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: (i) 1. pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (ii) 2. subdivides its outstanding shares of Common Stock into a greater number of shares; (iii) 3. combines its outstanding shares of Common Stock into a smaller number of shares; (iv) 4. makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (v) 5. issues by reclassification of its Common Stock any shares of its capital stock, ; then the number of shares of Common Stock issuable upon exercise of each Warrant Exercise Price in effect immediately prior to such action shall be proportionately adjusted so that the holder Holder may receive, upon exercise or exchange of any this Warrant thereafter exercised shall receive and payment of the same aggregate consideration, the 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 Holder had exercised or exchanged 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. 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: (i) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (ii) subdivides its outstanding shares of Common Stock into a greater number of shares; ; (iii) combines its outstanding shares of Common Stock into a smaller number of shares; (iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (v) issues by reclassification of its Common Stock any shares of its capital stock, ; then the number and kind of shares of Common Stock issuable securities purchasable upon exercise of each this Warrant and the Exercise Price in effect immediately prior to such action shall each be proportionately adjusted so that the holder Holder may receive upon exercise of any this Warrant thereafter exercised shall receive and payment of the same aggregate consideration, the 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 Holder had exercised 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. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (i1) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (ii2) subdivides or reclassifies its outstanding shares of Common Stock into a greater number of shares; (iii3) combines or reclassifies its outstanding shares of Common Stock into a smaller number of shares; (iv4) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (v5) issues by reclassification of its Common Stock any shares of its capital stock, stock (other than reclassifications arising solely as a result of a change in the par value or no par value of the Common Stock); then the number of shares of Common Stock issuable upon exercise of each Warrant Number in effect immediately prior to such action shall be proportionately adjusted so that the holder of any Warrant thereafter exercised shall 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 reclassification. 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: (i) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (ii) subdivides its outstanding shares of Common Stock into a greater number of shares; ; (iii) combines its outstanding shares of Common Stock into a smaller number of shares; (iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (v) issues by reclassification of its Common Stock any shares of its capital stock, ; then the number and kind of shares of Common Stock issuable securities purchasable upon exercise of each this Warrant and the Exercise Price in effect immediately prior to such action shall each be proportionately adjusted so that the holder Holder may receive upon exercise of any this Warrant thereafter exercised shall receive and payment of the same aggregate consideration, the 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 Holder had exercised 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. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If at any time the Company: (iI) pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (iiII) subdivides its outstanding shares of Common Stock into a greater number of shares; (iiiIII) combines its outstanding shares of Common Stock into a smaller number of shares; (ivIV) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (vV) issues by reclassification of its Common Stock any shares of its capital stock, ; then the number of shares of Common Stock issuable upon exercise of each Warrant Exercise Price in effect immediately prior to such action shall be proportionately adjusted so that the holder Holder may receive upon exercise of any the Warrant thereafter exercised shall receive and payment of the same aggregate consideration the 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 Holder had exercised 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. 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: (i) 1. pays a dividend or makes a distribution on its Common Stock, in either case Stock in shares of its Common Stock; (ii) 2. subdivides its outstanding shares of Common Stock into a greater number of shares; (iii) 3. combines its outstanding shares of Common Stock into a smaller number of shares; (iv) 4. makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (v) 5. issues by reclassification of its Common Stock any shares of its capital stock, ; then the number of shares of Common Stock issuable upon exercise of each Warrant Exercise Price in effect immediately prior to such action shall be proportionately adjusted so that the holder Holder may receive, upon exercise or exchange of any this Warrant thereafter exercised shall receive and payment of the same aggregate consideration, the 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 Holder had exercised or exchanged 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. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If the Company: (i) pays a dividend or makes a distribution on its Common Stock, in either case in shares of its Common Stock; (ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (iii) combines its outstanding shares of Common Stock into a smaller number of shares; (iv) makes a distribution on its Common Stock in shares of its capital stock other than Common Stock; or (v) issues by reclassification of its Common Stock any shares of its capital stock, . then the number of shares of Common Series C Preferred Stock issuable upon the exercise of each this Warrant immediately prior to such action shall be proportionately adjusted so that the holder Holder of any this Warrant thereafter exercised shall 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 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. Such adjustment shall be made successively whenever any event listed above shall occur.

Adjustment for Change in Capital Stock. If In case the Company: Company shall at -------------------------------------- any time after the Issuance Date (i) pays pay a dividend or makes make a distribution on its Common Stock, in either case outstanding Capital Stock payable in shares of its Common Stock; , (ii) subdivides its subdivide the outstanding shares of Common Stock into a greater number of shares; , (iii) combines its combine the outstanding shares of Common Stock into a smaller number of shares; , or (iv) makes a distribution on its Common Stock in issue any shares of its capital stock other than Common Stock; or (v) issues Capital Stock by reclassification of its Common Stock (including any shares such reclassification in connection with a consolidation or merger in which the Company is the continuing corporation), then, in each case, the Conversion Price, and the number of its capital stockConversion Shares issuable upon conversion of this Note, then in effect immediately prior to such action shall be adjusted so that the Holder may receive the number of shares of Common Stock issuable upon exercise of each Warrant immediately prior to such action shall be proportionately adjusted so that the holder of any Warrant thereafter exercised 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 Holder had been exercised converted the Note 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. Such adjustment shall be made successively whenever any event listed above shall occur.