Common use of Redemption; Exchange Clause in Contracts

Redemption; Exchange. In general, the Company may redeem the rights in whole, but not in part, at a price of $0.01 per right (subject to adjustment and payable in cash, Company common stock or other consideration deemed appropriate by the Company’s board of directors) at any time until ten days following the stock acquisition date. Immediately upon the action of the board of directors authorizing any redemption, the rights will terminate and the only right of the holders of rights will be to receive the redemption price. At any time after there is an acquiring person and prior to the acquisition by the acquiring person of 50% or more of the outstanding shares of Company common stock, the Company may exchange the rights (other than rights which previously have been voided as described above), in whole or in part, at an exchange ratio of one share of Company common stock per right (subject to adjustment).

Redemption; Exchange. In general, the Company may redeem the rights in whole, but not in part, at a price of $0.01 0.001 per right (subject to adjustment and payable in cash, Company common stock or other consideration deemed appropriate by the Company’s board of directorsBoard) at any time until ten days following the stock acquisition date. Immediately upon the action of the board of directors Board authorizing any redemption, the rights will terminate and the only right of the holders of rights will be to receive the redemption price. At any time after there is an acquiring person and prior to the acquisition by the acquiring person of 50% or more of the outstanding shares of Company common stock, the Company may exchange the rights (other than rights which previously have been voided as described above), in whole or in part, at an exchange ratio of one one-half of a share of Company common stock per right (subject to adjustment).