Common use of Subdivisions, Splits and Combinations Clause in Contracts

Subdivisions, Splits and Combinations. In case outstanding preferred class A shares of Vale shall be subdivided or split into a greater number of preferred class A shares, each Fixed Conversion Rate in effect at the opening of business on the day following the day upon which such subdivision or split becomes effective shall be proportionately increased, and, conversely, in case outstanding preferred class A shares of Vale shall each be combined into a smaller number of preferred class A shares, such Fixed Conversion Rate in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately reduced, such increase or reduction, as the case may be, to become effective immediately after the opening of business on the day following the day upon which such subdivision, split or combination becomes effective.

Subdivisions, Splits and Combinations. In case outstanding preferred class A shares of Vale CVRD shall be subdivided or split into a greater number of preferred class A shares, each Fixed Conversion Rate in effect at the opening of business on the day following the day upon which such subdivision or split becomes effective shall be proportionately increased, and, conversely, in case outstanding preferred class A shares of Vale CVRD shall each be combined into a smaller number of preferred class A shares, such Fixed Conversion Rate in effect at the opening of business on the day following the day upon which such combination becomes effective shall be proportionately reduced, such increase or reduction, as the case may be, to become effective immediately after the opening of business on the day following the day upon which such subdivision, split or combination becomes effective.