Common use of Adjustments for Stock Splits and Combinations Clause in Contracts

Adjustments for Stock Splits and Combinations. If presently outstanding shares of Common Stock shall be subdivided into a greater number of shares, or a dividend in Common Stock or other securities of the Company convertible or exchangeable into shares of Common Stock (in which latter event the number of shares of Common Stock issuable upon the conversion or exchange of such securities shall be deemed to have been distributed), shall be paid in respect to the Common Stock (but in all cases excluding any such events if material value is paid to the Company in connection therewith), (a) the number of shares of Common Stock which may be acquired by the Optionee upon the exercise of this Option shall, simultaneously with the effectiveness of such subdivision or immediately after the record date of such dividend, be proportionately increased, and (b) the Option Price shall be adjusted, to the same extent and in the same manner that the number of shares subject to, and the exercise price of, the Scheduled Options/Warrants are increased or adjusted, as the case may be. Conversely, if the outstanding shares of Common Stock shall be combined into a smaller number of shares, the number of shares of Common Stock which may be acquired by the Optionee upon the exercise of this Option shall, simultaneously with the effectiveness of such combination, be proportionately reduced, and the Option Price shall be adjusted in accordance herewith.