THIS IS PROBABLY THE BEST DESIGNED CHAIN ADJUSTER EVER! THE WASHER PART IS FLAT TOWARDS THE BACK OF THE BIKE FOR MORE CLEARENCE ON SMALLER DROPOUTS. THE PIECE THAT HANGS OFF THE END OF THE DROP OUT IS NICE AND ROUNDED TO KEEP YOU FROM BINDING UP ON GRINDS AND IT'S ALL TIGHTENED TOGETHER WITH A 4MM ALLEN BOLT. VERY NICE! PRICE IS FOR ONE TENSIONER. BLACK AND 14MM ONLY.