Common use of Minimum Exercise Price Clause in Contracts

Minimum Exercise Price. Notwithstanding anything to the contrary in this Section 3, in no event will the Exercise Price of this Warrant be adjusted to an amount that is less than the Minimum Exercise Price. As used herein, “Minimum Exercise Price” means 20% of the Nasdaq Minimum Price (as defined in Nasdaq Listing Rule 5635(d) or its successor) calculated as of the date of the Purchase Agreement as proportionately adjusted to reflect any Stock Dividend or Splits in the manner set forth in Section 3(a).