Intel 2005 Annual Report Download - page 212

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Securities become convertible into more than one class of Common Stock, if an adjustment to the Conversion Rate is required pursuant to this
Section 9.03(d), references in this Section to one share of Common Stock or Last Reported Sale Price of one share of Common Stock shall be deemed
to refer to a unit or to the price of a unit consisting of the number of shares of each class of Common Stock into which the Securities are then
convertible equal to the numbers of shares of such class issued in respect of one share of Common Stock in such reclassification. The above provisions
of this paragraph shall similarly apply to successive reclassifications.
(e) In case the Company or any of its Subsidiaries makes a payment in respect of a tender offer or exchange offer for all or any portion of the
Common Stock, to the extent that the cash and value of any other consideration included in the payment per share of Common Stock exceeds the Last
Reported Sale Price of the Common Stock on the Trading Day next succeeding the last date on which tenders or exchanges may be made pursuant to
such tender or exchange offer (as it may be amended), the Conversion Rate shall be increased based on the following formula:
where
84
CR
0
=
the Conversion Rate in effect on the date such tender or exchange offer expires;
CR'
=
the Conversion Rate in effect on the day next succeeding the date such tender or exchange offer expires;
AC
=
the aggregate value of all cash and any other consideration (as determined by the Company’s Board of Directors) paid or payable for
shares purchased in such tender or exchange offer;
OS
0
=
the number of shares of Common Stock outstanding immediately prior to the date such tender or exchange offer expires (including
any purchased shares);
OS'
=
the number of shares of Common Stock outstanding immediately after the date such tender or exchange offer expires (not including
any purchased shares); and
SP'
=
the average of the Last Reported Sale Prices of Common Stock over the ten consecutive Trading Day period