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

Adjustments for Change in Capital Stock. If at any time after the date of this Agreement, the Company: (a) pays a dividend or makes a distribution on its Common Stock exclusively in shares of its Common Stock; (b) subdivides its outstanding shares of Common Stock into a greater number of shares; (c) combines its outstanding shares of Common Stock into a smaller number of shares; (d) pays a dividend or makes a distribution on its common stock in shares of its capital stock other than Common Stock; or (e) issues by reclassification of its Common Stock any shares of its capital stock; then the Holders of the unexercised Warrants shall thereafter be entitled to receive, upon the exercise of such Warrants, the same shares of Common Stock and other securities that they would have owned or been entitled to receive immediately after such event as if the Warrants had been exercised immediately prior to such event. The adjustment pursuant to this Section 8.1 shall be made successively each time that any event listed in this Section 8.1 above shall occur. Upon each adjustment in the number of shares for which a Warrant is exercisable pursuant to this Section 8.1, the Exercise Price for such Warrants shall be adjusted to equal an amount per share of Common Stock equal to the Exercise Price before such adjustment multiplied by a fraction, of which the numerator is the number of shares of Common Stock for which a Warrant is exercisable immediately before giving effect to such adjustment, and the denominator of which is the number of shares of Common Stock for which a Warrant is exercisable immediately after giving effect to such adjustment.

Adjustments for Change in Capital Stock. If at any time after the date of this Agreement, the Company: (a) pays a dividend or makes a distribution on its Common Stock exclusively in shares of its Common Stock; (b) subdivides its outstanding shares of Common Stock into a greater number of shares; (c) combines its outstanding shares of Common Stock into a smaller number of shares; (d) pays a dividend or makes a distribution on its common stock Common Stock in shares of its capital stock other than Common Stock; or (e) issues by reclassification of its Common Stock any shares of its capital stock; then the Holders of the unexercised Warrants shall thereafter be entitled to receive, upon the exercise of such Warrants, the same shares of Common Stock and other securities that they would have owned or been entitled to receive immediately after such event as if the Warrants had been exercised immediately prior to such event. The adjustment pursuant to this Section 8.1 shall be made successively each time that any event listed in this Section 8.1 above shall occur. Upon each adjustment in the number of shares for which a Warrant is exercisable pursuant to this Section 8.1, the Exercise Price for such Warrants shall be adjusted to equal an amount per share of Common Stock equal to the Exercise Price before such adjustment multiplied by a fraction, of which the numerator is the number of shares of Common Stock for which a Warrant is exercisable immediately before giving effect to such adjustment, and the denominator of which is the number of shares of Common Stock for which a Warrant is exercisable immediately after giving effect to such adjustment.

Adjustments for Change in Capital Stock. If at any time after the date of this Agreement, the Company: (a) pays a dividend or makes a distribution on its Common Stock exclusively in shares of its Common Stock; (b) subdivides its outstanding shares of Common Stock into a greater number of shares; (c) combines its outstanding shares of Common Stock into a smaller number of shares; (d) pays a dividend or makes a distribution on its common stock Common Stock in shares of its capital stock other than Common Stock; or (e) issues by reclassification of its Common Stock any shares of its capital stock; then the Holders of the unexercised Warrants shall thereafter be entitled to receive, upon the exercise of such Warrants, the same shares of Common Stock and other securities that they would have owned or been entitled to receive immediately after such event as if the Warrants had been exercised immediately prior to such event. The adjustment pursuant to this Section 8.1 shall be made successively each time that any event listed in this Section 8.1 above shall occur. Upon each adjustment in the number of shares for which a Warrant is exercisable pursuant to this this Section 8.1, 8.1 the Exercise Price for such Warrants shall be adjusted to equal an amount per share of Common Stock equal to the Exercise Price before such adjustment multiplied by a fraction, of which the numerator is the number of shares of Common Stock for which a Warrant is exercisable immediately before giving effect to such adjustment, and the denominator of which is the number of shares of Common Stock for which a Warrant is exercisable immediately after giving effect to such adjustment.

Adjustments for Change in Capital Stock. If at any time after the date of this Agreement, the Company: (a1) pays a dividend or makes a distribution on its Common Stock exclusively in the form of shares of its Common Stock; (b2) subdivides its outstanding shares of Common Stock into a greater number of shares; (c3) combines its outstanding shares of Common Stock into a smaller number of shares; (d) pays a dividend or makes a distribution on its common stock in shares of its capital stock other than Common Stock; or (e4) issues by reclassification of its Common Stock any other shares of its capital stock; then the Holders Exercise Price in effect immediately prior to such action shall be proportionately adjusted (in conjunction with the adjustment proceed for in Section 12(g) hereof) so that the Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the unexercised Warrants shall thereafter be entitled to receive, upon Company that the exercise of such Warrants, the same shares of Common Stock and other securities that they Holder would have owned or been entitled to receive immediately after following such event as action if the Warrants such Warrant had been exercised immediately prior to such action. An adjustment made pursuant to this Section 12(a) shall become effective on the effective date of an event referred to in clauses (1)--(4) above, retroactive to the record date (if any) for such event. The If after an adjustment pursuant to this Section 8.1 12(a), a Holder of a Warrant upon exercise of the Warrant may receive shares of two or more classes of capital stock of the Company, the Company's Board of Directors 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. Any adjustment pursuant to this Section 12(a) shall be made successively each time that whenever any event listed in this Section 8.1 above shall occur. Upon each adjustment in the number of shares for which a Warrant is exercisable pursuant to this Section 8.1, the Exercise Price for such Warrants shall be adjusted to equal an amount per share of Common Stock equal to the Exercise Price before such adjustment multiplied by a fraction, of which the numerator is the number of shares of Common Stock for which a Warrant is exercisable immediately before giving effect to such adjustment, and the denominator of which is the number of shares of Common Stock for which a Warrant is exercisable immediately after giving effect to such adjustment.

Adjustments for Change in Capital Stock. If at any time after the date of this Agreement, the Company: (a) pays a dividend or makes a distribution on its Common Stock exclusively in shares of its Common Stock; (b) subdivides its outstanding shares of Common Stock into a greater number of shares; (c) combines its outstanding shares of Common Stock into a smaller number of shares; (d) pays a dividend or makes a distribution on its common stock Common Stock in shares of its capital stock other than Common Stock; or (e) issues by reclassification of its Common Stock any shares of its capital stock; then the Holders Holder of the unexercised Warrants Warrant shall thereafter be entitled to receive, upon the exercise of such WarrantsWarrant, the same shares of Common Stock and other securities that they would have owned or been entitled to receive immediately after such event as if the Warrants this Warrant had been exercised immediately prior to such event. The adjustment pursuant to this Section 8.1 shall be made successively each time that any event listed in this Section 8.1 above shall occur. Upon each adjustment in the number of shares for which a Warrant is exercisable pursuant to this Section 8.1, the Exercise Price for such Warrants Warrant shall be adjusted to equal an amount per share of Common Stock equal to the Exercise Price before such adjustment multiplied by a fraction, of which the numerator is the number of shares of Common Stock for which a Warrant is exercisable immediately before giving effect to such adjustment, and the denominator of which is the number of shares of Common Stock for which a Warrant is exercisable immediately after giving effect to such adjustment.

Adjustments for Change in Capital Stock. If at any time after the date of this Agreement, the CompanyCompany shall: (a) pays pay a dividend or makes make a distribution on its Common Stock exclusively payable in Additional Shares or shares of its Common other Capital Stock; (b) subdivides subdivide its outstanding shares of Common Stock into a greater number of shares; (c) combines combine its outstanding shares of Common Stock into a smaller number of shares;; or (d) pays a dividend or makes a distribution on its common stock in shares of its capital stock other than Common Stock; or (e) issues issue by reclassification of its the Common Stock any shares of its capital stock; then Capital Stock (other than rights, warrants or options for its Capital Stock); (i) the Holders aggregate number of Warrant Shares for which any Warrant is exercisable immediately prior to such action shall be adjusted so that the unexercised Warrants Holder shall thereafter be entitled to receive, receive upon exercise of such Warrant the number of shares or other units of Capital Stock of the Company which such Holder would have owned or would have been entitled to receive immediately following such action if such Holder had exercised such Warrant immediately prior to such action and (ii) the Exercise Price payable upon the exercise of such Warrants, the same shares of Common Stock and other securities that they would have owned or been entitled to receive immediately after Warrant shall be adjusted by multiplying such event as if the Warrants had been exercised Exercise Price immediately prior to such event. The adjustment pursuant to this Section 8.1 shall be made successively each time that any event listed in this Section 8.1 above shall occur. Upon each adjustment in the number of shares for which a Warrant is exercisable pursuant to this Section 8.1, the Exercise Price for such Warrants shall be adjusted to equal an amount per share of Common Stock equal to the Exercise Price before such adjustment multiplied by a fraction, the numerator of which the numerator is shall be the number of shares Warrant Shares issuable upon the exercise of Common Stock for which a such Warrant is exercisable immediately before giving effect prior to such adjustment, adjustment and the denominator of which is shall be the number of shares of Common Stock for which a Warrant is exercisable Shares issuable immediately after giving effect to such adjustmentthereafter.

Adjustments for Change in Capital Stock. If at any time after the date of this Agreement, the Company: (a1) pays a dividend or makes a distribution on its Common Stock exclusively in shares of its Common Stock; (b2) subdivides its outstanding shares of Common Stock into a greater number of shares; (c3) combines its outstanding shares of Common Stock into a smaller number of shares; (d) pays a dividend or makes a distribution on its common stock in shares of its capital stock other than Common Stock; or (e4) issues by reclassification of its Common Stock any shares of its capital stock; then the Holders Exercise Price in effect immediately prior to such action shall be proportionately adjusted (in conjunction with the adjustment proceed for in Section 12(g) hereof) so that the Holder of any Warrant thereafter exercised may receive the aggregate number and kind of shares of capital stock of the unexercised Warrants shall thereafter be entitled to receive, upon Company which the exercise of such Warrants, the same shares of Common Stock and other securities that they Holder would have owned or been entitled to receive immediately after following such event as action if the Warrants such Warrant had been exercised immediately prior to such action. An adjustment made pursuant to this Section 12(a) shall become effective on the effective date of an event referred to in clauses (1) - (4) above, retroactive to the record date (if any) for such event. The If after an adjustment pursuant to this Section 8.1 12(a), a Holder of a Warrant upon exercise of the Warrant may receive shares of two or more classes of capital stock of the Company, the Company's Board of Directors 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. Any adjustment pursuant to this Section 12(a) shall be made successively each time that whenever any event listed in this Section 8.1 above shall occur. Upon each adjustment in the number of shares for which a Warrant is exercisable pursuant to this Section 8.1, the Exercise Price for such Warrants shall be adjusted to equal an amount per share of Common Stock equal to the Exercise Price before such adjustment multiplied by a fraction, of which the numerator is the number of shares of Common Stock for which a Warrant is exercisable immediately before giving effect to such adjustment, and the denominator of which is the number of shares of Common Stock for which a Warrant is exercisable immediately after giving effect to such adjustment.