Common use of Capital Stock of Gold Clause in Contracts

Capital Stock of Gold. Gold has authorized capital stock consisting of (a) 25,000,000 shares of common stock, $1.00 par value ("Gold Common Stock"), of which 5,352,196 shares were issued and outstanding on March 31, 1998, subject, however, to a 100% stock dividend for shareholders of record as of May 6, 1998 with such stock split payable on May 18, 1998, (b) $28.75 Million of 8.75% Junior Subordinated Deferrable Interest Debentures and (c) 25,000,000 shares of preferred stock, none of which are issued and outstanding. All of the issued and outstanding shares of Gold Common Stock are validly issued, fully paid and non-assessable. Holders of Gold Common Stock do not have any preemptive rights with respect to the issuance of additional authorized shares of Gold Common Stock.

Capital Stock of Gold. Gold has authorized capital stock consisting of (a) 25,000,000 7,500,000 shares of common stock, $1.00 par value ("Gold Common Stock"), of which 5,352,196 4,300,000 shares were issued and outstanding on March 31, 19981997, subject, however, to a 100% stock dividend for shareholders of record as of May 6, 1998 with such stock split payable on May 18, 1998, and (b) $28.75 Million of 8.75% Junior Subordinated Deferrable Interest Debentures and (c) 25,000,000 7,500,000 shares of preferred stock, none stock for which no par value has as yet been established and of which there are no shares issued and outstanding. All of the issued and outstanding shares of Gold Common Stock are validly issued, fully paid and non-assessable. Holders of Gold Common Stock do not have any preemptive rights with respect to the issuance of additional authorized shares of Gold Common Stock.

Capital Stock of Gold. As of the date of this Agreement, Gold has authorized capital stock consisting of (a) 25,000,000 shares of common stock, $1.00 par value ("Gold Common Stock"), of which 5,352,196 shares were issued and outstanding on March 31, 1998, subject, however, to a 100% stock dividend for shareholders of record as of May 6, 1998 with such stock split dividend payable on May 18, 1998, (b) $28.75 Million of 8.75% Junior Subordinated Deferrable Interest Debentures and (c) 25,000,000 shares of preferred stock, none of which are is issued and outstanding. All of the issued and outstanding shares of Gold Common Stock are validly issued, fully paid and non-assessable. Holders of Gold Common Stock do not have any preemptive rights with respect to the issuance of additional authorized shares of Gold Common Stock.