Common use of Subdivision and Combination Clause in Contracts

Subdivision and Combination. In case the Company shall (i) declare a dividend or make a distribution on its outstanding Shares; (ii) subdivide or reclassify its outstanding Shares into a greater number of Shares; or (iii) combine or reclassify its outstanding Shares into a smaller number of Shares, the Exercise Price in effect at the time of the record date for such dividend or distribution or of the effective date of such subdivision, combination or reclassification shall be adjusted so that it shall equal the price determined by multiplying the Exercise Price, by a fraction, the denominator of which shall be the number of Shares outstanding after giving effect to such action, and the numerator of which shall be the number of Shares outstanding immediately prior to such action. Such adjustment shall be made successively whenever any event listed above shall occur. In addition, if the Company shall issue by reclassification of its Shares, other securities of the Company, then the number of Shares purchasable upon the exercise of each Warrant shall be adjusted so that the Holder shall be entitled to receive the kind and number of Shares and other securities of the Company which such Holder would have owned or would have been entitled to receive immediately after the happening of such event or any record date with respect thereto.

Subdivision and Combination. In case event that the Company shall (iI) declare a dividend or make a distribution on its outstanding Shares; (ii) subdivide or reclassify its outstanding Shares into a greater number of Shares; or (iii) combine or reclassify its outstanding Shares into a smaller small number of Shares, the Exercise Price in effect at the time of the record date for such dividend or distribution or of the effective date of such subdivision, combination or reclassification shall be adjusted so that it shall equal the price determined by multiplying the Exercise Price, by a fraction, the denominator of which shall be the number of Shares outstanding after giving effect to such action, and the numerator of which shall be the number of Shares outstanding immediately prior to such action. Such adjustment shall be made successively whenever any event listed above shall occur. In addition, if the Company shall issue by reclassification of its Shares, other or securities of the Company, then the number of Shares purchasable upon the exercise of each Warrant Option shall be adjusted so that the Holder shall be entitled to receive the kind and number of Shares and other securities of the Company which such Holder would have owned or would have been entitled to receive immediately after the happening of such event or any record date with respect thereto.