Common use of Designation of Series Clause in Contracts

Designation of Series. NUMBER OF SHARES. There is designated a series of Preferred Stock titled as "Series A Junior Participating Preferred Stock," par value $.01 per share (the "Series A Preferred Stock"), and the authorized number of shares constituting the Series A Preferred Stock shall be 120,000. Such number of authorized shares may be increased or decreased, from time to time, by resolution of the Board; provided, however, that no such decrease shall reduce the number of authorized shares of the Series A Preferred Stock to a number less than the number of shares of the Series A Preferred Stock then outstanding, plus the number of such shares then reserved for issuance upon the exercise of any outstanding options, warrants or rights or the exercise of any conversion or exchange privilege contained in any outstanding security issued by the Corporation.

Designation of Series. NUMBER OF SHARES. There is designated a The series of Preferred Stock titled as established hereby shall be designated the "Series A Junior Participating Preferred Stock," par value $.01 1.00 per share (the "Series A Preferred Stock"), and the authorized number of shares constituting the Series A Preferred Stock shall be 120,00060,000. Such number of authorized shares may be increased or decreased, from time to time, by resolution of the Board; provided, however, that no such decrease shall reduce the number of authorized shares of the Series A Preferred Stock to a number less than the number of shares of the Series A Preferred Stock then outstanding, plus the number of such shares then reserved for issuance upon the exercise of any outstanding options, warrants or rights or the exercise of any conversion or exchange privilege contained in any outstanding security issued by the Corporation.