Common use of Dividends in Securities Clause in Contracts

Dividends in Securities. In case the Company shall ----------------------- declare -15- a dividend or make any other distribution upon any sto ck of the Company (other than Common Stock) payable in either case in Common Stock, Convertible Securities or Stock Purchase Rights, such Common Stock, Convertible Securities or Stock Purchase Rights, as the case may be, issuable in payment of such dividend or distribution shall be deemed to have been issued or sold without consideration.

Dividends in Securities. In case If the Holding Company shall ----------------------- declare -15- a dividend or make any other distribution upon any sto ck shares of the Holding Company (other than Common Stock) Stock payable in either case in shares of Holding Company Common Stock, Convertible Securities or Stock Purchase Rights, such shares of Holding Company Common Stock, Convertible Securities or Stock Purchase Rights, as the case may be, issuable in payment of such dividend or distribution shall be deemed to have been issued or sold without consideration.

Dividends in Securities. In case If the Company shall ----------------------- declare -15- a dividend or make any other distribution upon any sto ck stock of the Company (other than Common Stock) payable in either case in shares of Common Stock, Stock or Convertible Securities or Stock Purchase RightsSecurities, such shares of Common Stock, Stock or Convertible Securities or Stock Purchase RightsSecurities, as the case may be, issuable in payment of such dividend or and distribution shall be deemed to have been issued or sold without consideration.

Dividends in Securities. In case the Company shall ----------------------- declare -15- a dividend or make any other distribution upon any sto ck capital stock of the Company (other than the 8% dividend on the Convertible Common Stock) payable in either case in Common Stock, Convertible Securities or Stock Purchase Rights, such Common Stock, Convertible Securities or Stock Purchase Rights, as the case may be, issuable in payment of such dividend or distribution shall be deemed to have been issued or sold without consideration.

Dividends in Securities. In case If the Company shall ----------------------- declare -15- a dividend or make any other distribution upon any sto ck stock of the Company (other than Common Stock) payable in either case in share of Common Stock, Convertible Securities or Stock Purchase Rights, such shares of Common Stock, Convertible Securities or Stock Purchase Rights, as the case may be, issuable in payment of such dividend or distribution shall be deemed to have been issued or sold without consideration.

Dividends in Securities. In case the Company shall ----------------------- declare -15- a dividend or make any other distribution upon any sto ck stock of the Company (other than Common Stock) payable in either case in Common Stock, Convertible Securities or Stock Purchase Rights, such Common Stock, Convertible Securities or Stock Purchase Rights, as the case may be, issuable in payment of such dividend or distribution shall be deemed to have been issued or sold without consideration.

Dividends in Securities. In case the Company shall ----------------------- declare -15- a dividend or make any other distribution upon any sto ck stock of the Company (other than Common StockShares) payable in either case in Common StockShares, Convertible Securities or Stock Purchase Rights, such Common StockShares, Convertible Securities or Stock Purchase Rights, as the case may be, issuable in payment of such dividend or distribution shall be deemed to have been issued or sold without consideration.