CHANGES IN NUMBER OF SHARES. If, while the Options are outstanding, the Company shall effect a subdivision or consolidation of Shares or other capital readjustment, the payment of a Share dividend, or other increase or reduction of the number of Shares outstanding, without receiving compensation therefor in money, services, or property, then (i) in the event of such an increase in the number of Shares outstanding, the number of Option Shares then subject to the Options shall be proportionately increased, and the Exercise Prices shall be proportionately reduced and (ii) in the event of such a reduction in the number of Shares outstanding, the number of Option Shares then subject to the Options shall be proportionately reduced, and the Exercise Prices shall be proportionately increased.
Appears in 3 contracts
Samples: Consultant Stock Option Agreement (Computerized Thermal Imaging Inc), Consultant Stock Option Agreement (Computerized Thermal Imaging Inc), Cc) Services Agreement (Computerized Thermal Imaging Inc)
CHANGES IN NUMBER OF SHARES. If, while the Options are Option is outstanding, the Company shall effect a subdivision or consolidation of Shares or other capital readjustment, the payment of a Share stock dividend, or other increase or reduction of the number of Shares outstanding, without receiving compensation therefor in money, services, or property, then (i) in the event of such an increase in the number of Shares outstanding, the number of Option Shares then subject to the Options Option shall be proportionately increased, and the Exercise Prices Price shall be proportionately reduced and (ii) in the event of such a reduction in the number of Shares outstanding, the number of Option Shares then subject to the Options Option shall be proportionately reduced, and the Exercise Prices Price shall be proportionately increased.
Appears in 2 contracts
Samples: Employee Stock Option Agreement (Computerized Thermal Imaging Inc), Employee Stock Option Agreement (Computerized Thermal Imaging Inc)
CHANGES IN NUMBER OF SHARES. If, while the Options are outstanding, the Company shall effect a subdivision or consolidation of Shares or other capital readjustment, the payment of a Share dividend, or other increase or reduction of the number of Shares outstanding, without receiving compensation therefor in money, services, or property, then (i) in the event of such an increase in the number of Shares outstanding, the number of Option Shares then subject to the Options shall be proportionately increased, and the Exercise Prices Price shall be proportionately reduced and (ii) in the event of such a reduction in the number of Shares outstanding, the number of Option Shares then subject to the Options shall be proportionately reduced, and the Exercise Prices shall be proportionately increased.
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