Common use of Stock Dividends, Splits Clause in Contracts

Stock Dividends, Splits. In the event that additional shares of Common Stock are issued pursuant to a stock split, stock dividend, recapitalization, reclassification or other change in the capital structure of the Company, the number of shares of Common Stock covered by the Option granted hereunder shall be increased proportionately, with no increase in the total purchase price of the shares then so covered. In the event that the shares of Common Stock of the Company from time to time issued and outstanding are reduced by a combination of shares, recapitalization, reclassification or other change in the capital structure of the Company, the number of shares of Common Stock covered by the Option granted hereunder shall be reduced proportionately, with no reduction in the total price of the shares then so covered. All such adjustments shall be made by the Board, whose determination upon the same shall be final and binding upon the Optionee. No fractional shares shall be issued, and any fractional shares resulting from such computations shall be eliminated from the adjusted Option. No adjustment shall be made for cash dividends or the issuance to stockholders of rights to subscribe for additional Common Stock or other securities.