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The increases and reductions provided for in this Section 3(a) will be made with the intent and, as nearly as practicable, the effect that neither the percentage of the total equity of the Company obtainable on exercise of the Warrants nor the price payable for such percentage upon such exercise will be affected by any event described in this Section 3(a).\n(b) In case of any change in the Common Stock through merger, consolidation, reclassification, reorganization, partial or complete liquidation, purchase of substantially all the assets of the Company, or other change in the capital structure of the Company, other than changes in par value, then, as a condition of such change, lawful and adequate provision will be made so that the holder of this Warrant Certificate will have the right thereafter to receive upon the exercise of the Warrant the kind and amount of shares of stock or other securities or property to which he would have been entitled if, immediately prior to such event, he had held the number of shares of Common Stock obtainable upon the exercise of the Warrant. In any such case, appropriate adjustment will be made in the application of the provisions set forth herein with respect to the rights and interest thereafter of the Warrantholder, to the end that the provisions set forth herein will thereafter be applicable, as nearly as reasonably may be, in relation to any shares of stock or other property thereafter deliverable upon the exercise of the Warrant. The Company will not permit any change in its capital structure to occur unless the issuer of the shares of stock or other securities to be received by the holder of this Warrant Certificate, if not the Company, agrees to be bound by and comply with the provisions of this Warrant Certificate.\n(c) When any adjustment is required to be made in the number of shares of Common Stock, other securities, or the property purchasable upon exercise of the Warrant, the Company will promptly determine the new number of such shares or other securities or property purchasable upon exercise of the Warrant and (i) prepare and retain on file a statement describing in reasonable detail the method used in arriving at the new number of such shares or other securities or property purchasable upon exercise of the Warrant and (ii) cause a copy of such statement to be mailed to the Warrantholder within 30 days after the date of the event giving rise to the adjustment.\n(d) No fractional shares of Common Stock or other securities will be issued in connection with the exercise of the Warrant, but the Company will pay, in lieu of fractional shares, a cash payment therefor on the basis of the mean between the bid and asked prices of the Common Stock in the over-the-counter market or the last sale price of the Common Stock on the principal exchange or other trading facility on which the Common Stock is traded on the day immediately prior to exercise.\n(e) If securities of the Company or securities of any subsidiary of the Company are distributed pro rata to holders of Common Stock, such number of securities will be distributed to the Warrantholder or its assignee upon exercise of its rights hereunder as such Warrantholder or assignee would have been entitled to if this Warrant Certificate had been exercised prior to the record date for such distribution. 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{"key": "the-foregoing", "type": "definition", "offset": [1580, 1593]}, {"key": "manner-of", "type": "definition", "offset": [1614, 1623]}, {"key": "discretion-of-the-company", "type": "clause", "offset": [1657, 1682]}, {"key": "to-determine", "type": "clause", "offset": [1683, 1695]}], "size": 1, "snippet": "The Warrants granted hereunder shall be appropriately adjusted both as to the number of shares subject to the Warrants and the Warrant Price for any increase or decrease in the number of outstanding shares of Common Stock of the Company resulting from a stock split or payment of a stock dividend on the Common Stock, a subdivision or combination of shares of the Common Stock, or a reclassification of the Common Stock, and in the event of a merger or consolidation in accordance with the following paragraph. After any merger, consolidation or reorganization of any form involving the Company as a party thereto involving any exchange, conversion, adjustment or other modification of the outstanding shares of the Company\u2019s Common Stock, Warrantholder at the time of such reorganization shall, at no additional cost, be entitled, upon any exercise of his or her Form Warrant Agreement (Type I) Warrant, to receive, in lieu of the number of shares as to which such Warrant shall then so be exercised, the number and class of shares of stock or other securities or such other property to which such Warrantholder would have been entitled pursuant to the terms of the agreement of merger or consolidation, if at the time of such merger or consolidation, such Warrantholder had been a holder of record of a number of shares of the Common Stock of the Company equal to the number of shares as to which such Warrant shall then be so exercised. Comparable rights shall accrue to each Warrantholder in the event of successive mergers or consolidations of the character described above. The foregoing adjustments and the manner of their application will be in the discretion of the Company to determine.", "hash": "4f0a2ffd19e9c5e33991122996cf1a07", "id": 7}, {"samples": [{"hash": "l2C1ZVlfWFc", "uri": "/contracts/l2C1ZVlfWFc#adjustments-in-certain-events", "label": "Credit Agreement (Tosco Corp)", "score": 18.0, "published": true}], "snippet_links": [{"key": "in-the-event-of", "type": "definition", "offset": [0, 15]}, {"key": "any-change", "type": "definition", "offset": [16, 26]}, {"key": "outstanding-common-stock", "type": "definition", "offset": [34, 58]}, {"key": "stock-split", "type": "definition", "offset": [76, 87]}, {"key": "share-dividend", "type": "definition", "offset": [89, 103]}, {"key": "reclassification-of-shares", "type": "clause", "offset": [120, 146]}, {"key": "change-in-capitalization", "type": "definition", "offset": [208, 232]}, {"key": "common-stockholders", "type": "definition", "offset": [257, 276]}, {"key": "cash-dividends", "type": "definition", "offset": [288, 302]}, {"key": "common-stock-price", "type": "definition", "offset": [308, 326]}, {"key": "the-corporation", "type": "clause", "offset": [427, 442]}], "size": 1, "snippet": "In the event of any change in the outstanding Common Stock by reason of any stock split, share dividend, or exchange or reclassification of shares, split-up, split-off, spin-off, liquidation or other similar change in capitalization, or any distribution to common stockholders other than cash dividends, the Common Stock price used for Plan purposes shall be computed so as to be on a basis equitable (to both Participants and the Corporation) and equivalent to that before the occurrence of such event.", "hash": "6076696231937b3afdec2b933945479b", "id": 8}, {"samples": [{"hash": "kZYT0drJFe2", "uri": "/contracts/kZYT0drJFe2#adjustments-in-certain-events", "label": "Standby Purchase Agreement (Black Ridge Oil & Gas, Inc.)", "score": 28.38945961, "published": true}], "snippet_links": [{"key": "warrant-shares", "type": "clause", "offset": [41, 55]}, {"key": "subject-to", "type": "clause", "offset": [109, 119]}, {"key": "from-time-to-time", "type": "clause", "offset": [131, 148]}, {"key": "certain-events", "type": "clause", "offset": [171, 185]}], "size": 1, "snippet": "The number, class, and price of Backstop Warrant Shares for which this Backstop Warrant may be exercised are subject to adjustment from time to time upon the happening of certain events as follows:", "hash": "274fee349fc4966b531a8ec665fa0358", "id": 9}, {"samples": [{"hash": "4VdOHpBG0wf", "uri": "/contracts/4VdOHpBG0wf#adjustments-in-certain-events", "label": "Union Transport Executive Share Plan (Uti Worldwide Inc)", "score": 18.0, "published": true}], "snippet_links": [{"key": "of-the-company", "type": "clause", "offset": [18, 32]}, {"key": "share-capital", "type": "definition", "offset": [89, 102]}, {"key": "distribution-to-shareholders", "type": "clause", "offset": [117, 145]}, {"key": "dividends-in-specie", "type": "clause", "offset": [149, 168]}, {"key": "form-of-shares", "type": "clause", "offset": [176, 190]}, {"key": "adjustment-to", "type": "clause", "offset": [239, 252]}, {"key": "number-of", "type": "definition", "offset": [257, 266]}, {"key": "plan-shares", "type": "definition", "offset": [267, 278]}, {"key": "subject-to", "type": "clause", "offset": [279, 289]}, {"key": "option-price", "type": "definition", "offset": [323, 335]}, {"key": "other-provisions-relating-to", "type": "clause", "offset": [367, 395]}, {"key": "affected-by", "type": "definition", "offset": [403, 414]}, {"key": "provided-that", "type": "clause", "offset": [428, 441]}, {"key": "the-auditors", "type": "clause", "offset": [442, 454]}, {"key": "confirmed-in-writing", "type": "definition", "offset": [510, 530]}, {"key": "fair-and-reasonable", "type": "definition", "offset": [572, 591]}, {"key": "adjustments-to", "type": "clause", "offset": [625, 639]}, {"key": "take-into-account", "type": "definition", "offset": [640, 657]}, {"key": "changes-in-law", "type": "clause", "offset": [667, 681]}, {"key": "accounting-principles", "type": "definition", "offset": [688, 709]}, {"key": "in-relation-to", "type": "clause", "offset": [723, 737]}, {"key": "corporate-transactions", "type": "definition", "offset": [814, 836]}, {"key": "other-event", "type": "definition", "offset": [844, 855]}, {"key": "by-the-trustees", "type": "clause", "offset": [877, 892]}, {"key": "operation-of-the-plan", "type": "clause", "offset": [953, 974]}, {"key": "as-amended", "type": "definition", "offset": [976, 986]}, {"key": "required-by-law", "type": "clause", "offset": [1039, 1054]}, {"key": "adversely-affect", "type": "definition", "offset": [1060, 1076]}, {"key": "rights-of", "type": "definition", "offset": [1081, 1090]}, {"key": "written-consent", "type": "clause", "offset": [1134, 1149]}], "size": 1, "snippet": "11.1 In the event of the Company splitting or consolidating its shares, reorganizing its share capital or making any distribution to shareholders of dividends in specie in the form of shares, the Trustees may, in their discretion, make an adjustment to the number of Plan Shares subject to Options then outstanding, to any Option price relating to Grants, and to any other provisions relating to Grants affected by such change, provided that the Auditors (acting as experts, and not as arbitrators) shall have confirmed in writing that in their opinion such adjustment is fair and reasonable.\n11.2 The Trustees may also make adjustments to take into account material changes in law or in accounting principles or practices in relation to mergers, consolidations, acquisitions, dispositions, repurchases or similar corporate transactions or any other event, if it is determined by the Trustees that adjustments are appropriate to avoid distortion in the operation of the Plan, as amended provided that no such adjustments (other than those required by law) may adversely affect the rights of any Participant without that Participant's written consent under any Option previously Granted and accepted.", "hash": "6654384f50b8f2dd647fcff64d2f7f34", "id": 10}], "next_curs": "CmYSYGoVc35sYXdpbnNpZGVyY29udHJhY3RzckILEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IiZhZGp1c3RtZW50cy1pbi1jZXJ0YWluLWV2ZW50cyMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"title": "Adjustments in Certain Events", "parents": [["antidilution-provisions", "Antidilution Provisions"], ["miscellaneous", "Miscellaneous"], ["exercise-exchange-of-warrant", "Exercise Exchange of Warrant"], ["whereas", "WHEREAS"], ["binding-upon-successors", "Binding  Upon  Successors"]], "size": 196, "children": [["subdivisions-combinations-and-other-issuances", "Subdivisions, Combinations and Other Issuances"], ["merger-consolidation-reclassification-reorganization-etc", "Merger, Consolidation, Reclassification, Reorganization, Etc"], ["notice-of-record-date-etc", "Notice of Record Date, Etc"], ["stock-dividends", "Stock Dividends"], ["pro-rata-distributions", "Pro Rata Distributions"]], "id": "adjustments-in-certain-events", "related": [["adjustments-upon-certain-events", "Adjustments Upon Certain Events", "Adjustments Upon Certain Events"], ["adjustment-for-certain-events", "Adjustment for Certain Events", "Adjustment for Certain Events"], ["no-adjustments-in-certain-cases", "No Adjustments in Certain Cases", "No Adjustments in Certain Cases"], ["certain-events", "Certain Events", "Certain Events"], ["limitation-on-effecting-transactions-resulting-in-certain-adjustments", "Limitation on Effecting Transactions Resulting in Certain Adjustments", "Limitation on Effecting Transactions Resulting in Certain Adjustments"]], "related_snippets": [], "updated": "2026-02-10T06:05:35+00:00", "also_ask": [], "drafting_tip": null, "explanation": "The \"Adjustments in Certain Events\" clause allows for modifications to the terms of an agreement or contract in response to specific, predefined occurrences. Typically, this clause applies to events such as mergers, stock splits, acquisitions, or other significant corporate actions that could affect the rights or obligations of the parties involved. For example, if a company issues additional shares or undergoes a reorganization, the terms of stock options or convertible securities may be adjusted to maintain fairness. The core function of this clause is to ensure that unforeseen or extraordinary events do not unfairly advantage or disadvantage any party, thereby preserving the original intent and balance of the agreement."}, "json": true, "cursor": ""}}