Common use of Adjustment for Convertible Securities Issue Clause in Contracts

Adjustment for Convertible Securities Issue. If the Company issues any options, warrants or other securities convertible into or exchangeable or exercisable for Common Stock (other than securities issued in transactions described in subsection (b) or (c) of this Section 9) for a consideration per share of Common Stock initially deliverable upon conversion, exchange or exercise of such securities less than the Current Market Value per share on the date of issuance of such securities, the Exercise Price shall be adjusted in accordance with this formula: O + P --- E' = E x M ------- O + D where: E' = the adjusted Exercise Price. E = the then current Exercise Price. O = the number of Fully Diluted Shares outstanding immediately prior to the issuance of such securities. P = the aggregate consideration received for the issuance of such securities.

Adjustment for Convertible Securities Issue. If the Company issues any options, warrants or other securities convertible into or exchangeable or exercisable for Common Stock (other than securities issued in transactions described in subsection subsections (b) or and (c) of this Section 911) for a consideration per share of Common Stock initially deliverable upon conversion, conversion or exchange or exercise of such securities less than the Current Market Value current market price per share on the date of issuance of such securities, the Exercise Price shall be adjusted in accordance with this formula: O + P --- - E' = E x O + M ------- --------- O + D where: E' = E'= the adjusted Exercise Price. E = the then current Exercise Price. O = the number of Fully Diluted Shares outstanding immediately prior to the issuance of such securities. P = the aggregate consideration received for the issuance of such securities.

Adjustment for Convertible Securities Issue. If the Company issues any options, warrants or other securities convertible into or exchangeable or exercisable for Common Stock (other than (x) securities issued in transactions described in subsection subsections (b) or (c) of this Section 9or (y) the Warrants) for a consideration per share of Common Stock initially deliverable upon conversion, exchange or exercise of received for such securities that is less than the Current Market Fair Value per share on the date of issuance the Company fixes the offering price of such securities, the Exercise Price shall be adjusted in accordance with this formula: O + P --- E' ’ = E x O + M ------- O + D where: E' ’ = the adjusted Exercise Price. E = the then current Exercise Price. O = the number of Fully Diluted Shares shares outstanding immediately prior to the issuance of such securities. P = the aggregate consideration received for such securities. M = the Fair Value per share on the date of issuance of such securities.

Adjustment for Convertible Securities Issue. If the Company issues any options, warrants or other securities convertible into or exchangeable or exercisable for Common Stock (other than securities issued in transactions described in subsection subsections (b) or and (c) and the exceptions to subsection (d) of this Section 910) for a consideration per share of Common Stock initially deliverable upon conversion, conversion or exchange or exercise of such securities less than the Current Market Value current market price per share on the date of issuance of such securities, the Exercise Price shall be adjusted in accordance with this formula: O + P --- E' = E x O + P _ M ------- _____ O + D where: E' = the adjusted Exercise Price. E = the then current Exercise Price. O = the number of Fully Diluted Shares shares outstanding immediately prior to the issuance of such securities. P = the aggregate consideration received for the issuance of such securities. M = the current market price per share on the date of issuance of such securities.

Adjustment for Convertible Securities Issue. If the Company issues any options, warrants or other securities convertible into or exchangeable or exercisable for Common Stock (other than securities issued in transactions described in subsection subsections (b) or and (c) of this Section 911) for a consideration per share of Common Stock initially deliverable upon conversion, conversion or exchange or exercise of such securities less than the Current Market Fair Value per share on the date of issuance of such securities, the Exercise Price shall be adjusted in accordance with this formula: O + P --- - E' = E x O + M ------- ---------- O + D where: E' = the adjusted Exercise Price. E = the then current Exercise Price. O = the number of Fully Diluted Shares shares outstanding immediately prior to the issuance of such securities. P = the aggregate consideration received for the issuance of such securities.