Common use of Warrants or rights Clause in Contracts

Warrants or rights. If the Covered Individual has warrants or other rights (other than a right to convert), calculate the Covered Individual’s interest in the underlying equity interest on a fully diluted basis assuming that both the individual and other holders of such warrants or rights have exercised such interests. Warrants, options, and similar rights must be counted even if they are unexercised or “out of the money.” For example, when calculating an individual’s percentage in an equity interest, use the following formula: (Individual′s shares in a class) + (Individual′s options and warrants in that class) (Total oustanding shares in that class, assuming all warrants or rights are exercised)

Warrants or rights. If the Covered Individual has warrants or other rights (other than a right to convert), calculate the Covered Individual’s interest in the underlying equity interest on a fully diluted basis assuming that both the individual and other holders of such warrants or rights have exercised such interests. Warrants, options, and similar rights must be counted even if they are unexercised or “out of the money.” For example, when calculating an individual’s percentage in an equity interest, use the following formula: (Individual′s Individualus shares in a class) + class)+ (Individual′s Individualus options and warrants in that class) (Total oustanding shares in that class, assuming all warrants or rights are exercised)