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| Record date | Warrant share number1, 2 | Warrant exercise price after record date |
|---|---|---|
| January 10, 2019 | 1.1 | $9.667 |
| October 10, 2018 | 1.1 | $9.732 |
| July 10, 2018 | 1.1 | $9.776 |
| April 10, 2018 | 1.1 | $9.826 |
| January 10, 2018 | 1.1 | $9.872 |
| October 10, 2017 | 1.1 | $9.912 |
| July 10, 2017 | 1.0 | $9.949 |
| April 10, 2017 | 1.0 | $9.990 |
1The Warrant Share Number should be multiplied by the number of warrants held in order to determine the effect of the dividend on warrant shares outstanding. The Warrant Share Number is determined in accordance with the terms set forth in the Warrant. The Form of Warrant was included as Exhibit 4.2 to Lincoln’s Form 8-A filed on September 17, 2010.
In accordance with the terms of Section 12(E) of the Global Warrant, if LNC shall declare a dividend in excess of $0.01, we will calculate the effect on the Exercise Price and the Warrant Share Number.
For the Exercise Price, if the amount of the adjustment would be greater than $0.01, we would make such adjustment rounded to the nearest one-tenth (1/10th) of a cent and drop any amounts that are not rounded. However, if the amount of the adjustment would be less than $0.01, we would carry forward any such amounts unrounded until such time as (a) the amount when aggregated with any subsequent unrounded carry-forward amounts would aggregate to at least $0.01 or (b) upon exercise of the Warrant, at which time we would make an adjustment rounded to the nearest one-tenth (1/10th) of a cent and drop any amounts that are not rounded.
Similarly, for the Warrant Share Number, if the amount of the adjustment would be greater than one-tenth (1/10th) of a share, we would make such adjustment rounded to the nearest one-hundredth (1/100th) of a share and drop any amounts that are not rounded. However, if the amount of the adjustment would be less than one-tenth (1/10th) of a share, we would carry forward any such amounts unrounded until such time as: (a) the amount when aggregated with any subsequent unrounded carry-forward amount would aggregate to at least one-tenth (1/10th) of a share; or (b) upon exercise of the Warrant, at which time we would make an adjustment rounded to the nearest one-hundredth (1/100th) of a share and drop any amounts that are not rounded.
2An adjustment has been made to the Warrant Share Number as a result of the October 10, 2017 dividend highlighted above. The Warrant Share Number is now 1.10. When a dividend is declared, an amount calculated in accordance with Section 12 of the Certificate is carried forward (the "Carry-Forward Amount"). The Carry-Forward Amount was 0.0279 as of January 10, 2019. An adjustment with respect to the Carry-Forward Amount shall be made upon the earlier to occur of: (i) a subsequent event contemplated by Section 12 resulting in an adjustment to the Warrant Share Number that, when added to the Carry-Forward Amount, equals or exceeds 1/10th of one share of Common Stock; or (ii) exercise of a Warrant.
For questions regarding the warrants and exercising the warrants, please contact the Warrant Agent, EQ at 1-866-541-9693.
