Common use of Spin-Off Distribution Clause in Contracts

Spin-Off Distribution. In addition to any adjustments pursuant to Section 2 above, if the Company shall declare or make the Spin-off Distribution, then, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held 100% of the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations or restrictions on exercise of this Warrant, including without limitation, the Maximum Percentage, without regard to any limitation on the number of authorized shares of Common Stock, and without regard to any limitation on the number of authorized shares of Crytyde’s common stock, par value $0.001 per share (the “TYDE Common Stock”), and regardless of whether or not the Initial Exercisability Date has occurred) immediately before the date on which a record is taken for such Spin-off Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Spin-off Distribution; provided, however, that the Holder’s participation in the Spin-off Distribution shall be in the form of a Warrant to purchase shares of TYDE Common Stock, as set forth in the Amendment Agreement.”

Spin-Off Distribution. In addition to any adjustments pursuant to Section 2 above, if the Company shall declare or make the Spin-off Distribution, then, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held 100200% of the number of shares of Common Stock acquirable upon complete exercise of this Warrant (without regard to any limitations or restrictions on exercise of this Warrant, including without limitation, the Maximum Percentage, without regard to any limitation on the number of authorized shares of Common Stock, and without regard to any limitation on the number of authorized shares of Crytyde’s common stock, par value $0.001 per share (the “TYDE Common Stock”), and regardless of whether or not the Initial Exercisability Date has occurred) immediately before the date on which a record is taken for such Spin-off Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Spin-off Distribution; provided, however, that the Holder’s participation in the Spin-off Distribution shall be in the form of a Warrant to purchase shares of TYDE Common Stock, as set forth in the Amendment Agreement.”