Common use of Adjustment of Exercise Price and/or Exercise Shares Clause in Contracts

Adjustment of Exercise Price and/or Exercise Shares. In the event of changes in the outstanding capital stock of the Corporation by reason of stock dividends, splits, recapitalizations, reclassifications, combinations or exchanges of shares, separations, reorganizations, liquidations, or the like, the number and class of shares available under the Warrant in the aggregate and the Exercise Price shall be correspondingly adjusted to give the Holder of the Warrant, on exercise for the same aggregate Exercise Price, the total number, class, and kind of shares as the Holder would have owned had the Warrant been exercised immediately prior to the event and had the Holder continued to hold such shares until after the event requiring adjustment. The Corporation will provide prompt written notice to the Holder describing the change and the corresponding adjustment of the Exercise Price or number of Exercise Shares subject to this Warrant made pursuant to this section.