Common use of Adjustments to the Current Holder’s Equity Interest Clause in Contracts

Adjustments to the Current Holder’s Equity Interest. Subject to the terms of this Section 3.3.3, the Current Holder’s Equity Interest (and the Warrant) shall be subject to increase (but not decrease) as follows: (a) In the event that (i) prior to December 18, 2018 the Company completes a private placement of its common stock and 50% of the Fair Market Value of such private placement is less than $0.385 per share, or (ii) 50% of the Fair Market Value of the Company’s common stock as of December 31, 2018 is less than $0.385 per share, then in each case the existing Current Holder’s Equity Interest applicable to the Warrant at such time shall increase (but not decrease) to a new Current Holder’s Equity Interest pursuant to the following formula: New Holder’s Equity Interest = [(2 x Existing Current Holder’s Equity Interest) x ($0.385 ÷ 50% of FMV)] – Existing Current Holder’s Equity Interest. (b) In the event that Holder exercises the Warrant in whole or in part prior to December 31, 2018 and Fair Market Value on the date of such exercise is less than $0.385 per share, then the Current Holder’s Equity Interest with respect solely to those shares being exercised shall increase (but not decrease) pursuant to the same formula set forth in Section 3.3.3(a) above, such that the formula would apply only to the shares being exercised, as follows: New Holder’s Equity Interest for Exercised Shares = [(2 x Existing Current Holder’s Equity Interest in the Exercised Shares) x ($0.385 ÷ 50% of FMV as of the Exercise Date)] – Existing Current Holder’s Equity Interest in the Exercised Shares (c) Solely for the purposes of illustration, examples of the calculations described in this Section 3.3.3 are set forth on Schedule 3.3.3 attached hereto. (d) The foregoing notwithstanding, the adjustment to Current Holder’s Equity Interest provided for in this Section 3.3.3 shall not apply to any private placement completed by the Company on or prior to September 30, 2015 with (i) Dxxxx X. Xxx Xxxxx; (ii) Dxxxx X. Xxx Xxxxx Trust, under Trust Agreement dated November 30, 1993; (iii) Penta Mezzanine SBIC Fund I, L.P.; (iv) JL-BBNC Mezz Utah, LLC; (v) JL Properties, Inc.; or (vi) MidCap Funding X Trust, or any of the parent companies, subsidiaries, or affiliates of any of the foregoing persons or entities.

Adjustments to the Current Holder’s Equity Interest. Subject to the terms of this Section 3.3.3, the Current Holder’s Equity Interest (and the Warrant) shall be subject to increase (but not decrease) as follows: (a) In the event that (i) prior to December 18, 2018 the Company completes a private placement of its common stock and 50% of the Fair Market Value of the Company’s common stock in such private placement is less than $0.385 per share, or (ii) 50% of the Fair Market Value of the Company’s common stock as of December 31, 2018 is less than $0.385 per share, then in each case the existing Current Holder’s Equity Interest applicable to the Warrant at such time shall increase (but not decrease) to a new Current Holder’s Equity Interest pursuant to the following formula: New Current Holder’s Equity Interest = [(2 x Existing Current Holder’s Equity Interest) x ($0.385 ÷ 50% of FMV)] – Existing Current Holder’s Equity Interest. (b) In the event that Holder exercises the Warrant in whole or in part prior to December 31, 2018 and Fair Market Value of the Company’s common stock on the date of such exercise is less than $0.385 per share, then the Current Holder’s Equity Interest with respect solely to those shares being exercised shall increase (but not decrease) pursuant to the same formula set forth in Section 3.3.3(a) above, such that the formula would apply only to the shares being exercised, as follows: New Current Holder’s Equity Interest for Exercised Shares = [(2 x Existing Current Holder’s Equity Interest in the Exercised Shares) x ($0.385 ÷ 50% of FMV as of the Exercise Date)] – Existing Current Holder’s Equity Interest in the Exercised Shares (c) Solely for the purposes of illustration, examples of the calculations described in this Section 3.3.3 are set forth on Schedule 3.3.3 attached hereto. (d) The foregoing notwithstanding, the adjustment to Current Holder’s Equity Interest provided for in this Section 3.3.3 shall not apply to any private placement completed by the Company on or prior to September 30, 2015 with (i) Dxxxx Xxxxx X. Xxx Xxxxx; (ii) Dxxxx Xxxxx X. Xxx Xxxxx Trust, under Trust Agreement dated November 30, 1993; (iii) Penta Mezzanine SBIC Fund I, L.P.the Holder; (iv) JL-BBNC Mezz Utah, LLC; (v) JL Properties, Inc.; or (vi) MidCap Funding X Trust, or any of the parent companies, subsidiaries, or affiliates of any of the foregoing persons or entities.

Adjustments to the Current Holder’s Equity Interest. Subject to the terms of this Section 3.3.3, the Current Holder’s Equity Interest (and the Warrant) shall be subject to increase (but not decrease) as follows: (a) In the event that (i) prior to December 18, 2018 the Company completes a private placement of its common stock and 50% of the Fair Market Value of the Company’s common stock in such private placement is less than $0.385 per share, or (ii) 50% of the Fair Market Value of the Company’s common stock as of December 31, 2018 is less than $0.385 per share, then in each case the existing Current Holder’s Equity Interest applicable to the Warrant at such time shall increase (but not decrease) to a new Current Holder’s Equity Interest pursuant to the following formula: New Current Holder’s Equity Interest = [(2 x Existing Current Holder’s Equity Interest) x ($0.385 ÷ 50% of FMV)] – Existing Current Holder’s Equity Interest. (b) In the event that Holder exercises the Warrant in whole or in part prior to December 31, 2018 and Fair Market Value of the Company’s common stock on the date of such exercise is less than $0.385 per share, then the Current Holder’s Equity Interest with respect solely to those shares being exercised shall increase (but not decrease) pursuant to the same formula set forth in Section 3.3.3(a) above, such that the formula would apply only to the shares being exercised, as follows: New Current Holder’s Equity Interest for Exercised Shares = [(2 x Existing Current Holder’s Equity Interest in the Exercised Shares) x ($0.385 ÷ 50% of FMV as of the Exercise Date)] – Existing Current Holder’s Equity Interest in the Exercised Shares (c) Solely for the purposes of illustration, examples of the calculations described in this Section 3.3.3 are set forth on Schedule 3.3.3 attached hereto. (d) The foregoing notwithstanding, the adjustment to Current Holder’s Equity Interest provided for in this Section 3.3.3 shall not apply to any private placement completed by the Company on or prior to September 30, 2015 with (i) Dxxxx Xxxxx X. Xxx Xxxxx; (ii) Dxxxx Xxxxx X. Xxx Xxxxx Trust, under Trust Agreement dated November 30, 1993; (iii) the Holder; (iv) Penta Mezzanine SBIC Fund I, L.P.; (iv) JL-BBNC Mezz Utah, LLC; (v) JL Properties, Inc.; or (vi) MidCap Funding X Trust, or any of the parent companies, subsidiaries, or affiliates of any of the foregoing persons or entities.