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This excerpt taken from the C 8-K filed Jun 10, 2009. Redemption Price”). The
redemption of the Rights may be made effective at such time, on such basis and
with such conditions as the Board in its sole discretion may establish. The
Redemption Price shall be payable, at the option of the Company, in cash, shares
of Common Stock, or such other form of consideration as the Board shall
determine.
(b)
Immediately upon the action of the Board electing to redeem the Rights (or at
such later time as the Board may establish for the effectiveness of such
redemption) and without any further action and without any notice, the right to
exercise the Rights will terminate and thereafter the only right of the holders
of Rights shall be to receive the Redemption Price for each Right so held. The
Company shall promptly thereafter give notice of such redemption to the Rights
Agent and the holders of the Rights in the manner set forth in Section
23;
34
SECTION
21. Exchange. (a) At
any time on or after a Stock Acquisition Date, with respect to all or any part
of the then outstanding and exercisable Rights (which shall not include Rights
that have become void pursuant to Section 6(e)), the Board may, at its option,
exchange for each Right one one-millionth of a share of Preferred Stock, subject
to adjustment pursuant to Section 9(a)(i) (such exchange ratio being hereinafter
referred to as the “ |
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