Common use of Adjustment of Option Shares and Option Price Clause in Contracts

Adjustment of Option Shares and Option Price. a. The number of Option Shares subject to this Option during the Option Period shall be cumulative as to all prior dates of calculation and shall be adjusted for any stock dividend, subdivision, split-up or combination of Common Stock. b. The Option Price shall be subject to adjustment from time to time as follows: If, at any time during the Option Period, the number of shares of Common Stock outstanding is altered by a stock dividend payable in shares of Common Stock or by a subdivision or split-up or combination of shares of Common Stock, then, immediately following the record date fixed for the determination of holders of shares of Common Stock, entitled to receive such subdivision or split-up or combination, the Option Price shall be appropriately increased or decreased and the number of shares of Common Stock issuable upon the exercise hereof shall be increased or decreased, pursuant to the formula set forth in Section 4.c. c. Upon each adjustment of the Option Price pursuant to the provisions of this Section 4, the number of shares of Common Stock issuable upon the exercise hereof shall be adjusted to the nearest full share of Common Stock by multiplying a number equal to the Option Price in effect immediately prior to such adjustment by the number of shares of Common Stock issuable immediately prior to such adjustment and dividing the product so obtained by the adjusted Option Price. d. Should additional shares of Class A Common Stock, $.01 par value, over and abovethe 4,000,000 shares presently authorized, be issued after the effective date of this Option Agreement, then the number of shares issuable upon exercise of this Option shall be increased by the same percentage that the total number of issued Class A Common Stock has been increased. e. The Corporation will use its best efforts to amend its certificate of incorporation to authorize additional Class B Stock should the number of shares of Class B Stock issuable upon exercise of the Option be increased in accordance with the terms of this agreement.

Adjustment of Option Shares and Option Price. a. The number of Option Shares subject to this Option during the Option Period shall be cumulative as to all prior dates of calculation and shall be adjusted for any stock dividend, subdivision, split-up or combination of Common Stock. b. The Option Price shall be subject to adjustment from time to time as follows: If, at any time during the Option Period, the number of shares of Common Stock outstanding is altered by a stock dividend payable in shares of Common Stock or by a subdivision or split-up or combination of shares of Common Stock, then, immediately following the record date fixed for the determination of holders of shares of Common Stock, entitled to receive such subdivision or split-up or combination, the Option Price shall be appropriately increased or decreased and the number of shares of Common Stock issuable upon the exercise hereof shall be increased or decreased, pursuant to the formula set forth in Section 4.c. c. Upon each adjustment of the Option Price pursuant to the provisions of this Section 4, the number of shares of Common Stock issuable upon the exercise hereof shall be adjusted to the nearest full share of Common Stock by multiplying a number equal to the Option Price in effect immediately prior to such adjustment by the number of shares of Common Stock issuable immediately prior to such adjustment and dividing the product so obtained by the adjusted Option Price. d. Should additional shares of Class A Common Stock, $.01 par value, over and abovethe above the 4,000,000 shares presently authorized, be issued after the effective date of this Option Agreement, then the number of shares issuable upon exercise of this Option shall be increased by the same percentage that the total number of issued Class A Common Stock has been increased. e. The Corporation will use its best efforts to amend its certificate of incorporation to authorize additional Class B Stock should the number of shares of Class B Stock issuable upon exercise of the Option be increased in accordance with the terms of this agreement.

Adjustment of Option Shares and Option Price. a. The number of Option Shares subject to this Option during the Option Period shall be cumulative as to all prior dates of calculation and shall be adjusted for any stock dividend, subdivision, split-up or combination of Common Stock. b. If, at any time during the first 36 months of the Option Period, the Corporation issues any previously unissued Common Stock as the result of any financing, acquisition, joint venture or other business transaction, then, during such period the number of shares subject to the Option shall be adjusted such that the holder thereof shall have the right to exercise the Option for the same percentage of the issued and outstanding Common Stock of the Corporation after giving effect to such transaction (including the future conversion or exercise of any option or warrants issued during the first 36 months, but converted by January 1, 2000) as he held options for immediately prior to such transaction. c. The Option Price shall be subject to adjustment from time to time as follows: : (1) If, at any time during the Option Period, the number of shares of Common Stock outstanding is altered increased by a stock dividend payable in shares of Common Stock or by a subdivision or split-up or combination of shares of Common Stock, then, immediately following the record date fixed for the determination of holders of shares of Common Stock, Stock entitled to receive such stock dividend, subdivision or split-up or combinationup, the Option Price shall be appropriately increased or decreased and so that the number of shares of Common Stock issuable upon the exercise hereof shall be increased or decreased, pursuant in proportion to the formula set forth such increase in Section 4.coutstanding shares. c. Upon each adjustment (2) If, at any time during the Option Period, the number of shares of Common Stock outstanding is decreased by a combination of outstanding shares of Common Stock, then, immediately following the record date for such combination, the Option Price pursuant to the provisions of this Section 4, shall be appropriately increased so that the number of shares of Common Stock issuable upon the exercise hereof shall be adjusted to the nearest full share of Common Stock by multiplying a number equal to the Option Price decreased in effect immediately prior proportion to such adjustment by the number of shares of Common Stock issuable immediately prior to such adjustment and dividing the product so obtained by the adjusted Option Pricedecrease in outstanding shares. d. Should additional shares of Class A Common Stock, $.01 par value, over and abovethe 4,000,000 shares presently authorized, be issued after the effective date of this Option Agreement, then the number of shares issuable upon exercise of this Option shall be increased by the same percentage that the total number of issued Class A Common Stock has been increased. e. The Corporation will use its best efforts to amend its certificate of incorporation to authorize additional Class B Stock should the number of shares of Class B Stock issuable upon exercise of the Option be increased in accordance with the terms of this agreement.

Adjustment of Option Shares and Option Price. a. The number of Option Shares subject to this Option during the Option Period shall be cumulative as to all prior dates of calculation and shall be adjusted for any stock dividend, subdivision, split-up or combination of Common Stock. b. The Option Price shall be subject to adjustment from time to time as follows: If, at any time during the Option Period, the number of shares of Common Stock outstanding is altered by a stock dividend payable in shares of Common Stock or by a subdivision or split-up or combination of shares of Common Stock, then, immediately following the record date fixed for the determination of holders of shares of Common Stock, entitled to receive such subdivision or split-up or combination, the Option Price shall be appropriately increased or decreased and the number of shares of Common Stock issuable upon the exercise hereof shall be increased or decreased, pursuant to the formula set forth in Section 4.c. c. Upon each adjustment of the Option Price pursuant to the provisions of this Section 4, the number of shares of Common Stock issuable upon the exercise hereof shall be adjusted to the nearest full share of Common Stock by multiplying a number equal to the Option Price in effect immediately prior to such adjustment by the number of shares of Common Stock issuable immediately prior to such adjustment and dividing the product so obtained by the adjusted Option Price. d. Should additional shares of Class A Common Stock, $.01 par value, over and abovethe 4,000,000 shares presently authorized, be issued after the effective date of this Option Agreement, then the number of shares issuable upon exercise of this Option shall be increased by the same percentage that the total number of issued Class A Common Stock has been increased. e. The Corporation will use its best efforts to amend its certificate of incorporation to authorize additional Class B Stock should the number of shares of Class B Stock issuable upon exercise of the Option be increased in accordance with the terms of this agreement.

Adjustment of Option Shares and Option Price. a. The number of Option Shares subject to this Option during the Option Period shall be cumulative as to all prior dates of calculation and shall be adjusted for any stock dividend, subdivision, split-up or combination of Common Stock. b. If, at any time during the first 36 months of the Option Period, the Corporation issues any previously unissued Common Stock as the result of any financing, acquisition, joint venture or other business transaction, then, during such period the number of shares subject to the Option shall be adjusted such that the holder thereof shall have the right to exercise the Option for the same percentage of the issued and outstanding Common Stock of the Corporation after giving effect to such transaction (including the future conversion or exercise of any option or warrants issued in such transaction during the term of the Option, but converted thereafter) as he held options for immediately prior to such transaction. c. The Option Price shall be subject to adjustment from time to time as follows: : (1) If, at any time during the Option Period, the number of shares of Common Stock outstanding is altered increased by a stock dividend payable in shares of Common Stock or by a subdivision or split-up or combination of shares of Common Stock, then, immediately following the record date fixed for the determination of holders of shares of Common Stock, Stock entitled to receive such stock dividend, subdivision or split-up or combinationup, the Option Price shall be appropriately increased or decreased and so that the number of shares of Common Stock issuable upon the exercise hereof shall be increased or decreased, pursuant in proportion to the formula set forth such increase in Section 4.coutstanding shares. c. Upon each adjustment (2) If, at any time during the Option Period, the number of shares of Common Stock outstanding is decreased by a combination of outstanding shares of Common Stock, then, immediately following the record date for such combination, the Option Price pursuant to the provisions of this Section 4, shall be appropriately increased so that the number of shares of Common Stock issuable upon the exercise hereof shall be adjusted to the nearest full share of Common Stock by multiplying a number equal to the Option Price decreased in effect immediately prior proportion to such adjustment by the number of shares of Common Stock issuable immediately prior to such adjustment and dividing the product so obtained by the adjusted Option Pricedecrease in outstanding shares. d. Should additional shares of Class A Common Stock, $.01 par value, over and abovethe 4,000,000 shares presently authorized, be issued after the effective date of this Option Agreement, then the number of shares issuable upon exercise of this Option shall be increased by the same percentage that the total number of issued Class A Common Stock has been increased. e. The Corporation will use its best efforts to amend its certificate of incorporation to authorize additional Class B Stock should the number of shares of Class B Stock issuable upon exercise of the Option be increased in accordance with the terms of this agreement.

Adjustment of Option Shares and Option Price. a. The number of Option Shares subject to this Option during the Option Period shall be cumulative as to all prior dates of calculation and shall be adjusted for any stock dividend, subdivision, split-up or combination of Common Stock. b. The Option Price shall be subject to adjustment from time to time as follows: If, at any time during the Option Period, the number of shares of Common Stock outstanding is altered by a stock dividend payable in shares of Common Stock or by a subdivision or split-up or combination of shares of Common Stock, then, immediately following the record date fixed for the determination of holders of shares of Common Stock, entitled to receive such subdivision or split-up or combination, the Option Price shall be appropriately increased or decreased and the number of shares of Common Stock issuable upon the exercise hereof shall be increased or decreased, pursuant to the formula set forth in Section 4.c. c. Upon each adjustment of the Option Price pursuant to the provisions of this Section 4, the number of shares of Common Stock issuable upon the exercise hereof thereof shall be adjusted to the nearest full share of Common Stock by multiplying a number equal to the Option Price in effect immediately prior to such adjustment by the number of shares of Common Stock issuable immediately prior to such adjustment and dividing the product so obtained by the adjusted Option Price. d. Should additional shares of Class A Common Stock, $.01 par value, over and abovethe above the 4,000,000 shares presently authorized, be issued after the effective date of this Option Agreement, then the number of shares issuable upon exercise of this Option shall be increased by the same percentage that the total number of issued Class A Common Stock has been increased. e. The Corporation will use its it best efforts to amend its certificate of incorporation to authorize additional Class B Stock should the number of shares of Class B Stock issuable upon exercise of the Option be increased in accordance with the terms of this agreement.