Common use of Voluntary Adjustment Clause in Contracts

Voluntary Adjustment. The Optionor from time to time may reduce the Exercise Price for the Options by any amount for any period of time if the period is at least 20 days and if the reduction is irrevocable during the period. Whenever the Exercise Price for the Options is reduced, the Optionor shall cause to be mailed to Holder a notice of the reduction. Such notice shall be mailed at least 15 days before the date the reduced Exercise Price takes effect. The notice shall state the reduced Exercise Price and the period it will be in effect.

Voluntary Adjustment. The Optionor Company from time to time may reduce the Exercise Price for the Options Warrants by any amount for any period of time if the period is at least 20 days and if the reduction is irrevocable during the period. Whenever the Exercise Price for the Options Warrants is reduced, the Optionor Company shall cause to be mailed to Holder a notice of the reduction. Such notice shall be mailed at least 15 days before the date the reduced Exercise Price takes effect. The notice shall state the reduced Exercise Price and the period it will be in effect.