Common use of Capital Increase and Initial Subscription Clause in Contracts

Capital Increase and Initial Subscription. (a) Shareholder’s Resolution on Capital Increase. The Company confirms that: (i) pursuant to the articles of association, the Board may effect an increase of the Company’s share capital in a maximum amount of CHF 426,950.00 by issuing up to 21,347,500 Securities out of the Company’s authorized share capital, such authorization having been granted by resolution of the shareholders meeting of October 21, 2015; and (ii) all statutory pre-emptive rights to which the existing shareholders of the Company are entitled under Swiss law with respect to the capital increase described in Section 4(a)(i) have been validly set aside or waived.

Capital Increase and Initial Subscription. (a) Shareholder’s Resolution on Capital Increase. The Company confirms that: (i) pursuant to the articles of association, the Board may effect an increase of the Company’s share capital in a maximum amount of CHF 426,950.00 320,950.00 by issuing up to 21,347,500 16,047,500 Securities out of the Company’s authorized share capital, such authorization having been granted by resolution of the shareholders meeting of October 21, 2015, as corrected on May 25, 2016; and (ii) all statutory pre-emptive rights to which the existing shareholders of the Company are entitled under Swiss law with respect to the capital increase described in Section 4(a)(i) have been validly set aside or waived.

Capital Increase and Initial Subscription. (a) Shareholder’s Resolution on Capital Increase. The Company confirms that: (i) pursuant to the articles of association, the Board may effect an increase of the Company’s share capital in a maximum amount of CHF 426,950.00 [•] by issuing up to 21,347,500 [•] Securities out of the Company’s authorized share capital, such authorization having been granted by resolution of the shareholders meeting of October 21, 2015[•] (Ermächtigungsbeschluss); and (ii) all statutory pre-emptive rights to which the existing shareholders of the Company are entitled under Swiss law with respect to the capital increase described in Section 4(a)(i) have been validly set aside or waived.

Capital Increase and Initial Subscription. (a) Shareholder’s Resolution on Capital Increase. The Company confirms that: (i) pursuant to the articles of association, the Board of Directors of the Company (the “Board”) may effect an increase of the Company’s share capital in a maximum amount of CHF 426,950.00 891,587 by issuing up to 21,347,500 11,590,631 Securities out of the Company’s authorized share capital, such authorization having been granted by resolution of the shareholders meeting of October 21December 6, 20152016; and (ii) all statutory pre-emptive rights to which the existing shareholders of the Company are entitled under Swiss law with respect to the capital increase described in Section 4(a)(i) have been validly set aside or waived.