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 shall be proportionately adjusted 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 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 shall be proportionately adjusted 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 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: Company (1i) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock; (2Stock,(ii) subdivides its outstanding shares of Common Stock into a greater number of shares; (3shares,(iii) combines its outstanding shares of Common Stock into a smaller number of shares; (4shares,(iv) 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 shall be proportionately adjusted 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 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: 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 shall be proportionately adjusted 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 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 StockStock or preferred 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 shall be proportionately adjusted 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 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 CompanyHoldings: (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 Capital Stock other than Common Stock; or (5) issues by reclassification of its Common Stock any shares of its capital stockCapital Stock; then the Exercise Price Rate in effect immediately prior to such action shall be proportionately adjusted so that the holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock 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 after an adjustment a holder of a Warrant upon exercise of it such Warrant may receive shares of two or more classes of capital stock Capital Stock of the CompanyHoldings, the Company Holdings shall determine in good faith the allocation of the adjusted Exercise Price Rate between the classes of capital stockCapital Stock. After such allocation, the exercise privilege and the Exercise Price Rate of each class of capital stock 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) 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 shall be proportionately adjusted 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 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: 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 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 shall be proportionately adjusted 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 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 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 shall be proportionately adjusted 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 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 13. 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 shall be proportionately adjusted 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 such Warrant may receive shares of two or more classes of capital stock of the Company, the Company shall determine in good faith (subject to Section 10(n)) 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; (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 shall be proportionately adjusted so that the holder Holder of any the 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 the 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 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: 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 (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; Capital Stock, then the Exercise Price in effect immediately prior to such action shall be proportionately adjusted so that the holder of any Warrant thereafter exercised may receive upon exercise of such Warrant the aggregate number and kind of shares of capital stock 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 under this Section 6.01(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 of a Warrant upon exercise of it may receive shares of two or more classes of capital stock Capital Stock of the Company, the Company shall determine determine, in good faith, the allocation of the adjusted Exercise Price between the classes of capital stockCapital Stock. After such allocation, the exercise privilege and the Exercise Price of each class of capital stock 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 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 Conversion Price in effect immediately prior to such action shall be proportionately adjusted so that the holder of any Warrant Convertible Amount thereafter exercised converted 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 Convertible Amount had been exercised converted 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 Convertible Amount upon exercise conversion of it may receive shares of two or more classes of capital stock of the Company, the Company shall determine the allocation of the adjusted Exercise Conversion Price between the classes of capital stock. After such allocation, the exercise privilege and the Exercise Conversion 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 1.4. 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 shall be proportionately adjusted 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 Company and the holders of a majority of the Warrants shall determine mutually agree upon the allocation of the adjusted Exercise Price exercise price between the classes of capital stock. After such allocationAllocation, 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 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 StockStock or preferred 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 shall be proportionately adjusted 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 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: (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 shall then be proportionately adjusted so that in accordance with the holder of any Warrant thereafter exercised may receive formula: O 1 - Where: E = E x A 1 E = the aggregate adjusted Exercise Price E = the current Exercise Price O = the 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 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: (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;; Table of Contents (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 in effect immediately prior to such action shall be proportionately adjusted 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 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) issues by reclassification of its Common Stock any shares of its capital stock; then then, the Exercise Price in effect immediately prior to such action shall be proportionately adjusted 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 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 may, upon exercise of it may the Warrant, receive shares of two or more classes of capital stock of the Company, 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) . issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action shall be proportionately adjusted 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 reasonably 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 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) issues by reclassification of its Common Stock any shares of its capital stock; then the Exercise Price in effect immediately prior to such action shall be proportionately adjusted 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 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 shall be proportionately adjusted 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 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 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 shall be proportionately adjusted 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 Holder upon exercise of it may receive shares of two or more classes of capital stock of the Company, 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) . 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 shall be proportionately adjusted so that the holder of any the 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 the 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 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.