Common use of Stock Dividends, Subdivisions and Combinations Clause in Contracts

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer shall: (i) make or issue or set a record date for the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If at any time while this Warrant is outstanding the Issuer Company shall: (i) declare a dividend or make or issue or set a record date for the holders distribution on its outstanding shares of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, in shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then then: (1) the number of shares of Common Stock for which acquirable upon exercise of this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock that would have been acquirable under this Warrant immediately prior to the record date for such dividend or distribution or the effective date of such subdivision or combination would own or be entitled to receive after such record date or the effective date of such subdivision or combination, as applicable, and (2) the Current Warrant Price shall be adjusted to equal: (A) the Current Warrant Price in effect at the time of the record date for such dividend or distribution or of the effective date of such subdivision or combination, multiplied by the number of shares of Common Stock into which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such eventadjustment, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by by (B) the number of shares of Common Stock for into which this Warrant is exercisable immediately after such adjustment. Notwithstanding Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the foregoing, if such record date shall have been fixed and for the determination of stockholders entitled to receive such dividend is not fully paid or if such distribution is not fully made on the date fixed therefordistribution, the Warrant Price shall be adjusted and any adjustment pursuant to clauses (ii) or (iii) of this paragraph as of shall become effective immediately after the time of actual payment effective date of such dividends subdivision or distributionscombination.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer shall: (i) make or issue or set a record date for the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (ii) subdivide effect a stock split of its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If at any time while this Warrant is outstanding the Issuer Company shall: (i) declare a dividend or make or issue or set a record date for the holders distribution on its outstanding shares of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, in shares of Common Stock,; (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, ; or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then then: (1) the number of shares of Common Stock for which acquirable upon exercise of this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock that would have been acquirable under this Warrant immediately prior to the record date for such dividend or distribution or the effective date of such subdivision or combination would own or be entitled to receive after such record date or the effective date of such subdivision or combination, as applicable, and (2) the Current Warrant Price shall be adjusted to equal: (A) the Current Warrant Price in effect at the time of the record date for such dividend or distribution or of the effective date of such subdivision or combination, multiplied by the number of shares of Common Stock into which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such eventadjustment, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by by (B) the number of shares of Common Stock for into which this Warrant is exercisable immediately after such adjustment. Notwithstanding Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the foregoing, if such record date shall have been fixed and for the determination of stockholders entitled to receive such dividend is not fully paid or if such distribution is not fully made on the date fixed therefordistribution, the Warrant Price shall be adjusted and any adjustment pursuant to clauses (ii) or (iii) of this paragraph as of shall become effective immediately after the time of actual payment effective date of such dividends subdivision or distributionscombination.

Stock Dividends, Subdivisions and Combinations. If at any time time, or from time-to-time, after the Issuer shall: date hereof, the Company (i) make or issue or set declares a record date for dividend on the holders of its Common Stock for the purpose of entitling them to receive a dividend that is payable in, or other distribution of, with shares of Common Stock, , (ii) subdivide its subdivides the outstanding shares of Common Stock into a larger greater number of shares of Common StockStock by a stock split, or reclassification or other method, or (iii) combine its combines or consolidates the outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the lesser number of shares of Common Stock for which by a reverse stock split, reclassification or other method, then the number of Warrant Shares issuable upon exercise of this Warrant shall be decreased or increased, as appropriate, by multiplying the number of Warrant Shares issuable upon exercise of this Warrant immediately before such event by a fraction, the numerator of which is exercisable the number of issued and outstanding shares of Common Stock immediately after the occurrence of any such event shall be adjusted to equal and the denominator of which is the number of issued and outstanding shares of Common Stock immediately before such event. The events set forth above are deemed to occur on the date the Company’s Board of Directors (the “Board”) declares the dividend or authorizes the subdivision or combination of shares of Common Stock which a record holder of unless, for any reason, the same dividend is not subsequently paid or the subdivision or combination is not subsequently completed. After any adjustment to the number of shares of Common Stock for which Warrant Shares under this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2Section 1.01(a) the Warrant Per Share Exercise Price then in effect shall be adjusted to equal (A) that number determined by dividing the Warrant Total Exercise Price then in effect multiplied by the number of shares Warrant Shares issuable upon exercise of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributionsadjustments.

Stock Dividends, Subdivisions and Combinations. If at any time while this Warrant is outstanding the Issuer Company shall: (i) declare a dividend or make or issue or set a record date for the holders distribution on its outstanding shares of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, in shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then then: (1) the number of shares of Common Stock for which acquirable upon exercise of this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock that would have been acquirable under this Warrant immediately prior to the record date for such dividend or distribution or the effective date of such subdivision or combination would own or be entitled to receive after such record date or the effective date of such subdivision or combination, as applicable, and (2) the Warrant Price shall be adjusted to equal: (A) the Current Warrant Price in effect at the time of the record date for such dividend or distribution or of the effective date of such subdivision or combination, multiplied by the number of shares of Common Stock into which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such eventadjustment, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by by (B) the number of shares of Common Stock for into which this Warrant is exercisable immediately after such adjustment. Notwithstanding Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the foregoing, if such record date shall have been fixed and for the determination of stockholders entitled to receive such dividend is not fully paid or if such distribution is not fully made on the date fixed therefordistribution, the Warrant Price shall be adjusted and any adjustment pursuant to clauses (ii) or (iii) of this paragraph as of shall become effective immediately after the time of actual payment effective date of such dividends subdivision or distributionscombination.

Stock Dividends, Subdivisions and Combinations. If Without limiting any provision of Section 3, if the Company, at any time after the Issuer shall: Issuance Date, (i) make pays a stock dividend on one or issue or set a record date for the holders more classes of its then outstanding shares of Common Stock for the purpose or otherwise makes a distribution on any class of entitling them to receive a dividend capital stock that is payable in, or other distribution of, in shares of Common Stock, , (ii) subdivide subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its then outstanding shares of Common Stock into a larger number of shares of Common Stock, or or (iii) combine combines (by combination, reverse stock split or otherwise) one or more classes of its then outstanding shares of Common Stock into a smaller number of shares, then in each such case (A) the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock, then Stock outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event and (1B) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event. Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend or distribution, and any adjustment pursuant to clause (2ii) or (iii) of this paragraph shall become effective immediately after the Warrant effective date of such subdivision or combination. If any event requiring an adjustment under this paragraph occurs during the period that an Exercise Price is used in any calculation hereunder, then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if calculation such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Exercise Price shall be adjusted pursuant appropriately to this paragraph as of the time of actual payment of reflect such dividends or distributionsevent.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer Company shall: (i) make or issue or set take a record date for of the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (ii) subdivide or reclassify its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine or reclassify its outstanding shares of Common Stock into a smaller number of shares of Common StockStock or otherwise effect a reverse stock split, then (1i) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event event, or the record date therefor, whichever is earlier, would own or be entitled to receive after the happening of such event, and (2ii) the Warrant Price then in effect Exercise Price(s) shall be adjusted to equal (A) the Warrant Exercise Price then in effect immediately prior to such event multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If the Company shall, at any time the Issuer shall: (i) or from time to time while this Warrant is outstanding, pay a dividend or make or issue or set a record date for the holders of distribution on its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, in shares of Common Stock, (ii) , subdivide its outstanding shares of Common Stock into a larger greater number of shares of Common Stock, or (iii) or combine its outstanding shares of Common Stock into a smaller number of shares or issue by reclassification of its outstanding shares of Common StockStock any shares of its capital stock (including any such reclassification in connection with a consolidation or merger in which the Company is the continuing entity), then (1A) the Exercise Price in effect immediately prior to the date on which such change shall become effective shall be adjusted by multiplying such Exercise Price by a fraction, the numerator of which shall be the number of shares of Common Stock for outstanding immediately prior to such change and the denominator of which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable outstanding immediately prior after giving effect to the occurrence of such event would own or be entitled to receive after the happening of such event, change and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares Warrant Shares purchasable upon exercise of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant by multiplying the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior to this paragraph as the date on which such change shall become effective by a fraction, the numerator of which shall be the time Exercise Price in effect immediately prior to the date on which such change shall become effective and the denominator of actual payment of which shall be the Exercise Price in effect immediately after giving effect to such dividends or distributionschange, calculated in accordance with clause (A) above. Such adjustments shall be made successively whenever any event listed above shall occur.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer Company shall: (ia) make or issue or set take a record date for of the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, in or to receive any other distribution of, shares of Additional Shares of Common Stock, (iib) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iiic) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1i) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening occurrence of such event, and (2ii) the Current Warrant Price then in effect shall be adjusted to equal the product of (A) the Current Warrant Price then in effect prior to the occurrence of such event multiplied by (B) a fraction, the numerator of which is the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such adjustment and the adjustment divided by (B) denominator of which is the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer shall: (i) make or issue or set a record date for the holders of its the Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If at any time while this Warrant is outstanding the Issuer Company shall: (i) make or issue or set i. take a record date for of the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, additional shares of Common Stock, (ii) . subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) . combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then then: (1) the number of shares of Common Stock for which acquirable upon exercise of this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which that would have been acquirable under this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and and (2) the Warrant Price then in effect shall be adjusted to equal equal: (A) the Current Warrant Price then in effect immediately prior to the occurrence of such event multiplied by the number of shares of Common Stock for into which this Warrant is exercisable immediately prior to the adjustment adjustment, divided by by (B) the number of shares of Common Stock for into which this Warrant is exercisable immediately after such adjustment. Notwithstanding Any adjustment made pursuant to clause (i) of this paragraph shall become effective immediately after the foregoing, if such record date shall have been fixed and for the determination of shareholders entitled to receive such dividend is not fully paid or if such distribution is not fully made on the date fixed therefordistribution, the Warrant Price shall be adjusted and any adjustment pursuant to clauses (ii) or (iii) of this paragraph as of shall become effective immediately after the time of actual payment effective date of such dividends subdivision or distributionscombination.

Stock Dividends, Subdivisions and Combinations. (a) If at any time while this Warrant is outstanding the Issuer Company shall: (i) make or issue or set i. take a record date for of the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, additional shares of Common Stock, (ii) . subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) . combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then then: (1) the number of shares of Common Stock for which acquirable upon exercise of this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which that would have been acquirable under this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and and (2) the Current Warrant Price then in effect shall be adjusted to equal equal: (A) the Current Warrant Price then in effect immediately prior to the occurrence of such event multiplied by the number of shares of Common Stock for into which this Warrant is exercisable immediately prior to the adjustment adjustment, divided by by (B) the number of shares of Common Stock for into which this Warrant is exercisable immediately after such adjustment. Notwithstanding . (b) Any adjustment made pursuant to Section 4.1(a)(i) shall become effective immediately after the foregoing, if such record date shall have been fixed and for the determination of shareholders entitled to receive such dividend is not fully paid or if such distribution is not fully made on the date fixed therefordistribution, the Warrant Price shall be adjusted and any adjustment pursuant to this paragraph as of Sections 4.1(a)(ii) or (iii) shall become effective immediately after the time of actual payment effective date of such dividends subdivision or distributionscombination.

Stock Dividends, Subdivisions and Combinations. If at any time while this Warrant is outstanding the Issuer Company shall: (i) make or issue or set i. take a record date for of the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, additional shares of Common Stock, (ii) . subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) . combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then then: (1) the number of shares of Common Stock for which acquirable upon exercise of this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which that would have been acquirable under this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and and (2) the Warrant Exercise Price then in effect shall be adjusted to equal equal: (A) the Warrant Exercise Price then in effect immediately prior to the occurrence of such event multiplied by the number of shares of Common Stock for into which this Warrant is exercisable immediately prior to the adjustment adjustment, divided by by (B) the number of shares of Common Stock for into which this Warrant is exercisable immediately after such adjustment. Notwithstanding Any adjustment made pursuant to clause (i) of this Section 4.a shall become effective immediately after the foregoing, if such record date shall have been fixed and for the determination of stockholders entitled to receive such dividend is not fully paid or if such distribution is not fully made on the date fixed therefordistribution, the Warrant Price shall be adjusted and any adjustment pursuant to clauses (ii) or (iii) of this paragraph as of Section 4.a shall become effective immediately after the time of actual payment effective date of such dividends subdivision or distributionscombination.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer shall: (i) make or issue or set a record date for the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the ­ ­ ­ ­ ­ adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer shall: Company shall (i) declare a dividend or otherwise make or issue or set a record date for distribution to the holders of its Common Stock for in the purpose form of entitling them to receive a dividend payable in, or other distribution of, additional shares of Common Stock, , (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the number of shares of Warrant Stock for which this Warrant is exercisable shall be adjusted as follows: (A) the number share of shares of Warrant Stock for which this Warrant is exercisable shall be adjusted to equal the number of shares of Warrant Stock for which this Warrant is exercisable immediately before the occurrence of any such event multiplied by fraction, (1) the numerator of which is the total number of shares of Common Stock outstanding immediately after the occurrence of such event and (2) the denominator of which is the total number of shares of Common Stock outstanding immediately before the occurrence of such event; and (B) the Vested Price and the Maximum Price shall be adjusted to equal the Vested Price and Maximum Price, respectively, in effect immediately before the occurrence of such event multiplied by a fraction (1) the numerator of which is the total number of shares of Warrant Stock for which this Warrant is exercisable immediately before the adjustment and (2) the denominator of which is the total number of shares of Warrant Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If at any time time, the Issuer shall: (i) make or issue or set a record date for the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (ii) subdivide effect a stock split of its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer shall: (i) make or issue or set a record date for the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price ­ ­ ­ ­ ­ shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer shall: (i) make or issue or set a record date for the holders of its the Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then , (1) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer shall: (ia) make or issue or set take a record date for of the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock,; (iib) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, ; or (iiic) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, ; then (1i) the number of shares of Common Stock Shares for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2ii) the Warrant Exercise Price then in effect shall be adjusted recalculated after giving effect to equal (A) the Warrant Price then adjustment in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable pursuant to clause (i) above so that the aggregate Exercise Price for the purchase of all of the Shares for which this Warrant is exercisable is the same immediately prior before and after the happening of such event. A reclassification of the Common Stock (other than a change in par value, or from par value to no par value or from no par value to par value) into shares of Common Stock and shares of any other class of stock shall be deemed a distribution by the Company to the adjustment divided by (B) holders of its Common Stock of such shares of such other class of stock within the meaning of Section 3.8 and, if the outstanding shares of Common Stock shall be changed into a larger or smaller number of shares of Common Stock for which this Warrant is exercisable immediately after as a part of such adjustment. Notwithstanding the foregoingreclassification, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price change shall be adjusted pursuant to this paragraph deemed a subdivision or combination, as the case may be, of the time outstanding shares of actual payment Common Stock within the meaning of such dividends or distributionsthis Section 3.1.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer Company shall: (ia) make or issue or set take a record date for of the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, additional shares of Common Stock, (iib) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iiic) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, 3 then (1i) the number of shares of Common Stock Warrant Shares for which this a Warrant is exercisable immediately after prior to the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this a Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, event and (2ii) the Warrant Price then in effect immediately prior to the occurrence of such event shall be adjusted to equal (A) the product of the Warrant Price then in effect multiplied by a fraction, the numerator of which shall be the number of shares of Common Stock Warrant Shares for which this a Warrant is exercisable immediately prior to the adjustment divided by (B) and the denominator of which shall be the number of shares of Common Stock Warrant Shares for which this a Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If If, at any time after the Issuer Closing Date, the Company shall: : (i) make or issue or set pay a record date for the holders dividend in shares of its Common Stock for the purpose of entitling them to receive or make a dividend payable in, or other distribution of, in shares of Common Stock, ; or (ii) subdivide subdivide, split or reclassify its outstanding shares of Common Stock into a larger number of shares of Common Stock, or ; or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then ; then (1A) the number of shares Note Warrant Shares issuable upon exercise of Common Stock for which this each Note Warrant is exercisable shall be adjusted so as to equal the number of Note Warrant Shares that the Holder of such Note Warrant would have held immediately after the occurrence of any such event shall be adjusted to equal if the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Holder had exercised such Note Warrant is exercisable immediately prior to the occurrence of such event would own or (or, in the case of clause (i), the record date therefor) and (B) the Exercise Price shall be entitled adjusted to receive after be equal to (x) the happening Exercise Price immediately prior to the occurrence of such event, event multiplied by (y) a fraction (1) the numerator of which is the number of Note Warrant Shares issuable upon exercise of such Note Warrant immediately prior to the adjustment in clause (A) and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by denominator of which is the number of shares Note Warrant Shares issuable upon exercise of Common Stock for which this such Note Warrant is exercisable immediately prior to after the adjustment divided by in clause (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustmentA). Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully An adjustment made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of Section 4.02 shall become effective immediately after the time of actual payment occurrence of such dividends or distributionsevent retroactive to the record date, if any, for such event.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer shall: (i) make or issue or set a record date for the holders of its the Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the number of shares of Common Preferred Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal equal, upon conversion of the shares of Preferred Stock, the number of shares of Common Stock which a record holder of the same number of shares of Common Stock into which the Preferred Stock for which this Warrant is exercisable may be converted immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock into which the Preferred Stock for which this Warrant is exercisable may be converted immediately prior to the adjustment divided by (B) the number of shares of Common Stock into which the Preferred Stock for which this Warrant is exercisable may be converted immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If at any time time, or from time-to-time, after the Issuer shall: date hereof, the Company (i) make or issue or set declares a record date for dividend on the holders of its Common Stock for the purpose of entitling them to receive a dividend that is payable in, or other distribution of, with shares of Common Stock, , (ii) subdivide its subdivides the outstanding shares of Common Stock into a larger greater number of shares of Common StockStock by a stock split, or reclassification or other method, or (iii) combine its combines or consolidates the outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the lesser number of shares of Common Stock for which by a reverse stock split, reclassification or other method, then the number of Warrant Shares issuable upon exercise of this Warrant shall be decreased or increased, as appropriate, by multiplying the number of Warrant Shares issuable upon exercise of this Warrant immediately before such event by a fraction, the numerator of which is exercisable the number of issued and outstanding shares of Common Stock immediately after the occurrence of any 152576896v2 such event shall be adjusted to equal and the denominator of which is the number of issued and outstanding shares of Common Stock immediately before such event. The events set forth above are deemed to occur on the date the Company’s Board of Directors (the “Board”) declares the dividend or authorizes the subdivision or combination of shares of Common Stock which a record holder of unless, for any reason, the same dividend is not subsequently paid or the subdivision or combination is not subsequently completed. After any adjustment to the number of shares of Common Stock for which Warrant Shares under this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2Section 1.01(a) the Warrant Per Share Exercise Price then in effect shall be adjusted to equal (A) that number determined by dividing the Warrant Total Exercise Price then in effect multiplied by the number of shares Warrant Shares issuable upon exercise of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributionsadjustments.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer Company shall: (ia) make or issue or set take a record date for of the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares Additional Shares of Common Stock, (iib) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iiic) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, by a reverse stock split or otherwise then (1i) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2ii) the Current Warrant Price then in effect shall be adjusted to equal (A) the Current Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding adjustment except that the foregoing, if such record date number of shares of Common Stock for which this warrant is exercisable shall have been fixed and such dividend is not fully paid be reduced or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be otherwise adjusted pursuant to this paragraph as by reason of the time of actual payment of such dividends or distributions1 to 44 reverse stock split contemplated in the Company's SEC Form 14C filed on October 26, 2004.

Stock Dividends, Subdivisions and Combinations. If at any time the Issuer shall: (i) make or issue or set a record date for the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (ii) subdivide effect a stock split of its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then , (1) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If at any time In the Issuer event that after the initial date of issuance of this Warrant the Company shall: (i) make or issue or set a record date for the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (iia) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock or issue a stock dividend to all the holders of Common Stock, ; or (iiib) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, ; then (1y) the Number of Warrant Shares shall be adjusted to that Number of Warrant Shares determined by multiplying the Number of Warrant Shares that could be purchased hereunder immediately prior to such event by a fraction (A) the numerator of which shall be the total number of outstanding shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event and (B) the denominator of which shall be adjusted to equal the total number of outstanding shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2z) the Warrant Exercise Price then in effect shall be adjusted to equal (Ai) the Warrant Exercise Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided such event multiplied by (Bii) the number quotient obtained by dividing (I) the Number of shares Warrant Shares as of Common Stock for which this immediately prior to such event by (II) the Number of Warrant is exercisable Shares immediately after such adjustmentadjustment (as calculated under clause (y) hereof). Notwithstanding Whenever the foregoing, if such record date shall have been fixed and such dividend Number of Warrant Shares or the Exercise Price is not fully paid or if such distribution is not fully made on the date fixed thereforadjusted as provided herein, the Warrant Price Company shall be adjusted pursuant provide written notice to this paragraph as of TSRI explaining such adjustments and the time of actual payment of calculations used to reach such dividends or distributionsadjustments.

Stock Dividends, Subdivisions and Combinations. If at any time time, or from time-to-time, after the Issuer shall: date hereof, the Company (i) make or issue or set declares a record date for dividend on the holders of its Common Stock for the purpose of entitling them to receive a dividend that is payable in, or other distribution of, with shares of Common Stock, , (ii) subdivide its subdivides the outstanding shares of Common Stock into a larger greater number of shares of Common StockStock by a stock split, or reclassification or other method, or (iii) combine its combines or consolidates the outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the lesser number of shares of Common Stock for which by a reverse stock split, reclassification or other method, then the number of Warrant Shares issuable upon exercise of this Warrant shall be decreased or increased, as appropriate, by multiplying the number of Warrant Shares issuable upon exercise of this Warrant immediately before such event by a fraction, the numerator of which is exercisable the number of issued and outstanding shares of Common Stock immediately after the occurrence of any 152576874v2 such event shall be adjusted to equal and the denominator of which is the number of issued and outstanding shares of Common Stock immediately before such event. The events set forth above are deemed to occur on the date the Company’s Board of Directors (the “Board”) declares the dividend or authorizes the subdivision or combination of shares of Common Stock which a record holder of unless, for any reason, the same dividend is not subsequently paid or the subdivision or combination is not subsequently completed. After any adjustment to the number of shares of Common Stock for which Warrant Shares under this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2Section 1.01(a) the Warrant Per Share Exercise Price then in effect shall be adjusted to equal (A) that number determined by dividing the Warrant Total Exercise Price then in effect multiplied by the number of shares Warrant Shares issuable upon exercise of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributionsadjustments.

Stock Dividends, Subdivisions and Combinations. If at any time time, or from time-to-time, after the Issuer shall: date hereof, the Company (i) make or issue or set declares a record date for dividend on the holders of its Common Stock for the purpose of entitling them to receive a dividend that is payable in, or other distribution of, with shares of Common Stock, , (ii) subdivide its subdivides the outstanding shares of Common Stock into a larger greater number of shares of Common StockStock by a stock split, or reclassification or other method, or (iii) combine its combines or consolidates the outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the lesser number of shares of Common Stock for which by a reverse stock split, reclassification or other method, then the number of Warrant Shares issuable upon exercise of this Warrant shall be decreased or increased, as appropriate, by multiplying the number of Warrant Shares issuable upon exercise of this Warrant immediately before such event by a fraction, the numerator of which is exercisable the number of issued and outstanding shares of Common Stock immediately after the occurrence of any such event shall be adjusted to equal and the denominator of which is the number of issued and outstanding shares of Common 152576828v2 Stock immediately before such event. The events set forth above are deemed to occur on the date the Company’s Board of Directors (the “Board”) declares the dividend or authorizes the subdivision or combination of shares of Common Stock which a record holder of unless, for any reason, the same dividend is not subsequently paid or the subdivision or combination is not subsequently completed. After any adjustment to the number of shares of Common Stock for which Warrant Shares under this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2Section 1.01(a) the Warrant Per Share Exercise Price then in effect shall be adjusted to equal (A) that number determined by dividing the Warrant Total Exercise Price then in effect multiplied by the number of shares Warrant Shares issuable upon exercise of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributionsadjustments.

Stock Dividends, Subdivisions and Combinations. If at any time after the Delivery Date the Issuer shall: (i) make or issue or set a record date for the holders of its Common Stock for the purpose of entitling them to receive a dividend payable in, or other distribution of, shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the number of shares of Common Stock for which this Warrant is exercisable immediately after the occurrence of any such event shall be adjusted to equal the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2) the Warrant Price then in effect shall be adjusted to equal (A) the Warrant Price then in effect multiplied by the number of shares of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributions.

Stock Dividends, Subdivisions and Combinations. If at any time time, or from time-to-time, after the Issuer shall: date hereof, the Company (i) make or issue or set declares a record date for dividend on the holders of its Common Stock for the purpose of entitling them to receive a dividend that is payable in, or other distribution of, with shares of Common Stock, , (ii) subdivide its subdivides the outstanding shares of Common Stock into a larger greater number of shares of Common StockStock by a stock split, or reclassification or other method, or (iii) combine its combines or consolidates the outstanding shares of Common Stock into a smaller number of shares of Common Stock, then (1) the lesser number of shares of Common Stock for which by a reverse stock split, reclassification or other method, then the number of Warrant Shares issuable upon exercise of this Warrant shall be decreased or increased, as appropriate, by multiplying the number of Warrant Shares issuable upon exercise of this Warrant immediately before such event by a fraction, the numerator of which is exercisable the number of issued and outstanding shares of Common Stock immediately after the occurrence of any 152576862v2 such event shall be adjusted to equal and the denominator of which is the number of issued and outstanding shares of Common Stock immediately before such event. The events set forth above are deemed to occur on the date the Company’s Board of Directors (the “Board”) declares the dividend or authorizes the subdivision or combination of shares of Common Stock which a record holder of unless, for any reason, the same dividend is not subsequently paid or the subdivision or combination is not subsequently completed. After any adjustment to the number of shares of Common Stock for which Warrant Shares under this Warrant is exercisable immediately prior to the occurrence of such event would own or be entitled to receive after the happening of such event, and (2Section 1.01(a) the Warrant Per Share Exercise Price then in effect shall be adjusted to equal (A) that number determined by dividing the Warrant Total Exercise Price then in effect multiplied by the number of shares Warrant Shares issuable upon exercise of Common Stock for which this Warrant is exercisable immediately prior to the adjustment divided by (B) the number of shares of Common Stock for which this Warrant is exercisable immediately after such adjustment. Notwithstanding the foregoing, if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date fixed therefor, the Warrant Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or distributionsadjustments.