Adjustments by Board Clause Samples
The "Adjustments by Board" clause grants the board of directors the authority to modify certain terms or conditions within an agreement or plan, typically in response to specific events or changes in circumstances. For example, this may include adjusting the number of shares subject to an employee stock option plan if there is a stock split, merger, or other corporate restructuring. The core function of this clause is to ensure fairness and maintain the intended value or effect of the agreement despite unforeseen changes, thereby preventing unintended advantages or disadvantages to any party involved.
Adjustments by Board. If any event occurs as to which the provisions of this Section 4 are not strictly applicable or if strictly applicable would not fairly protect the rights of Holder in accordance with the essential intent and principles of such provisions, then the Board shall make an adjustment in the application of such provisions, in accordance with such essential intent and principles, so as to protect such rights.
Adjustments by Board. In addition to the foregoing adjustments, the Board of Directors may make any other adjustment to increase the number of Warrant Shares purchasable upon exercise of Warrants or to decrease the Exercise Price as it may, in good faith, deem desirable to protect the rights and benefits of the Holders hereunder.
Adjustments by Board. In addition to the foregoing adjustments, and subject to Article V hereof, the Board of Directors may make any other adjustment, as evidenced by a Board Resolution delivered to the Warrant Agent, to increase the number of