Template:Nutshell Equity Derivatives 12.2(a)

12.2(a) “Alternative Obligation”, then except for Reverse Mergers, following the Merger Date:

• the relevantNew Shares or Other Consideration (as modified by any relevant terms and including any proceeds of any redemption), and any new issuer will be deemed the “Shares” and the “Issuer”;
• the number of New Shares or Other Consideration, (as so modified) to which an existing shareholder would be entitled upon completion of the Merger Event will be deemed the relevant “Number of Shares”; and
• the Calculation Agent will adjust any relevant terms, as necessary (but it will not adjust to account solely for changes in volatility, expected dividends, stock loan rate or liquidity);