Document ID: 15533

Text:
a) Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on any Business Day (as defined below) on or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly completed and executed facsimile or electronic mail copy of the Notice of Exercise form annexed hereto (the Notice of Exercise). The Company shall use reasonable best efforts to not affect the exercise of any portion of this Warrant, and the Holder shall not have the right to exercise any portion of this Warrant, pursuant to the terms and conditions of this Warrant and any such exercise shall be null and void and treated as if never made, to the extent that after giving effect to such exercise, the Holder together with any parties with whom or with which the Holders ownership interest must be aggregated (Attribution Parties), collectively would beneficially own in excess of 4.99% (the Maximum Percentage) of the shares of Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by the Holder and the other Attribution Parties shall include the number of shares of Common Stock held by the Holder and all other Attribution Parties plus the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which the determination of such sentence is being made, but shall exclude shares of Common Stock which would be issuable upon (A) exercise of the remaining, unexercised portion of this Warrant beneficially owned by the Holder or any of the other Attribution Parties and (B) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company (including, without limitation, any convertible notes or convertible preferred stock or warrants) beneficially owned by the Holder or any other Attribution Party subject to a limitation on conversion or exercise analogous to the limitation contained in this Section 2(a). For purposes of this Section 2(a), beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of 1934 (the 1934 Act) and the rules promulgated thereunder. For purposes of determining the number of outstanding shares of Common Stock the Holder may acquire upon the exercise of this Warrant without exceeding the Maximum Percentage, the Holder may rely on the number of outstanding shares of Common Stock as reflected in (x) the Companys most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, Current Report on Form 8-K or other public filing with the SEC, as the case may be, (y) a more recent public announcement by the Company or (z) any other more recent written notice by the Company or the Transfer Agent, if any, setting forth the number of shares of Common Stock outstanding (the Reported Outstanding Share Number). If the Company receives a Notice of Exercise from the Holder at a time when the actual number of outstanding shares of Common Stock is less than the Reported Outstanding Share Number, the Company shall (i) notify the Holder in writing of the number of shares of Common Stock then outstanding and, to the extent that such Notice of Exercise would otherwise cause the Holders beneficial ownership, as determined pursuant to this Section 2(a), to exceed the Maximum Percentage, the Holder must notify the Company of a reduced number of Warrant Shares to be acquired pursuant to such Notice of Exercise (the number of shares by which such purchase is reduced, the Reduction Shares) and (ii) as soon as reasonably practicable, the Company shall return to the Holder any exercise price paid by the Holder for the Reduction Shares. For any reason at any time, upon the written or oral request of the Holder, the Company shall within one (1) Business Day confirm orally and in writing or by electronic mail to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder and any other Attribution Party since the date as of which the Reported Outstanding Share Number was reported. In the event that the issuance of shares of Common Stock to the Holder upon exercise of this Warrant results in the Holder and the other Attribution Parties being deemed to beneficially own, in the aggregate, more than the Maximum Percentage of the number of outstanding shares of Common Stock (as determined under Section 13(d) of the 1934 Act and the rules promulgated thereunder), the number of shares so issued by which the Holders and the other Attribution Parties aggregate beneficial ownership exceeds the Maximum Percentage (the Excess Shares) shall be deemed null and void and shall be cancelled ab initio, and the Holder shall not have the power to vote or to transfer the Excess Shares. As soon as reasonably practicable after the issuance of the Excess Shares has been deemed null and void, (i) the Company shall return to the Holder the exercise price paid by the Holder for the Excess Shares, and (ii) the Holder shall provide any documentation reasonably requested by the Company to effect such cancellation on the records of the Company and its transfer agent. Upon delivery of a written notice to the Company, the Holder may from time to time increase or decrease the Maximum Percentage to any other percentage as specified in such notice; provided that (i) any such increase in the Maximum Percentage will not be effective until the sixty-first (61st) day after such notice is delivered to the Company, and (ii) any such increase or decrease will apply only to the Holder and the other Attribution Parties and not to any other holder of Warrants issued in connection with the Purchase Agreement that is not an Attribution Party of the Holder. For purposes of clarity, the shares of Common Stock issuable pursuant to the terms of this Warrant in excess of the Maximum Percentage shall not be deemed to be beneficially owned by the Holder for any purpose including for purposes of Section 13(d) or Rule 16a-1(a)(1) of the 1934 Act. No prior inability to exercise this Warrant pursuant to this paragraph shall have any effect on the applicability of the provisions of this paragraph with respect to any subsequent determination of exercisability. The provisions of this paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 2(a) to the extent necessary to correct this paragraph or any portion of this paragraph which may be defective or inconsistent with the intended beneficial ownership limitation contained in this Section 2(a) or to make changes or supplements necessary or desirable to properly give effect to such limitation. The limitation contained in this paragraph may not be waived and shall apply to a successor holder of this Warrant. Within three (3) Business Days (as defined below) following the date of exercise as aforesaid, the Holder shall deliver the aggregate Exercise Price (as defined below) for the shares specified in the applicable Notice of Exercise by wire transfer in immediately available funds or cashiers check drawn on a United States bank in immediately available funds. A Business Day means any day other than a Saturday or Sunday or any day that national commercial banks in New York City, New York are authorized or required to close or any day that the NADSAQ stock markets or any other nationally recognized stock markets are closed. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within three (3) Business Days of the date the final Notice of Exercise is delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Company, either directly or through its representative, shall maintain, or cause to be maintained, records showing the number of Warrant Shares purchased and the date of such purchases, which records shall be deemed to be accurate absent manifest error. The Company shall deliver any objection to any Notice of Exercise within two (2) Business Days of actual receipt of such notice. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

Named Entities:
221
224
Percentage
227
228
Percentage
444
448
Act
451
452
Act
692
693
Shares
1150
1151
Act
1210
1217
Regulation
1440
1445
Address

Tokenized Text:
a
)
Exercise
of
Warrant
.
Exercise
of
the
purchase
rights
represented
by
this
Warrant
may
be
made
,
in
whole
or
in
part
,
at
any
time
or
times
on
any
Business
Day
(
as
defined
below
)
on
or
after
the
Initial
Exercise
Date
and
on
or
before
the
Termination
Date
by
delivery
to
the
Company
(
or
such
other
office
or
agency
of
the
Company
as
it
may
designate
by
notice
in
writing
to
the
registered
Holder
at
the
address
of
the
Holder
appearing
on
the
books
of
the
Company
)
of
a
duly
completed
and
executed
facsimile
or
electronic
mail
copy
of
the
Notice
of
Exercise
form
annexed
hereto
(
the
Notice
of
Exercise
)
.
The
Company
shall
use
reasonable
best
efforts
to
not
affect
the
exercise
of
any
portion
of
this
Warrant
,
and
the
Holder
shall
not
have
the
right
to
exercise
any
portion
of
this
Warrant
,
pursuant
to
the
terms
and
conditions
of
this
Warrant
and
any
such
exercise
shall
be
null
and
void
and
treated
as
if
never
made
,
to
the
extent
that
after
giving
effect
to
such
exercise
,
the
Holder
together
with
any
parties
with
whom
or
with
which
the
Holders
ownership
interest
must
be
aggregated
(
Attribution
Parties
)
,
collectively
would
beneficially
own
in
excess
of
4
.
99
%
(
the
Maximum
Percentage
)
of
the
shares
of
Common
Stock
outstanding
immediately
after
giving
effect
to
such
exercise
.
For
purposes
of
the
foregoing
sentence
,
the
aggregate
number
of
shares
of
Common
Stock
beneficially
owned
by
the
Holder
and
the
other
Attribution
Parties
shall
include
the
number
of
shares
of
Common
Stock
held
by
the
Holder
and
all
other
Attribution
Parties
plus
the
number
of
shares
of
Common
Stock
issuable
upon
exercise
of
this
Warrant
with
respect
to
which
the
determination
of
such
sentence
is
being
made
,
but
shall
exclude
shares
of
Common
Stock
which
would
be
issuable
upon
(
A
)
exercise
of
the
remaining
,
unexercised
portion
of
this
Warrant
beneficially
owned
by
the
Holder
or
any
of
the
other
Attribution
Parties
and
(
B
)
exercise
or
conversion
of
the
unexercised
or
unconverted
portion
of
any
other
securities
of
the
Company
(
including
,
without
limitation
,
any
convertible
notes
or
convertible
preferred
stock
or
warrants
)
beneficially
owned
by
the
Holder
or
any
other
Attribution
Party
subject
to
a
limitation
on
conversion
or
exercise
analogous
to
the
limitation
contained
in
this
Section
2
(
a
)
.
For
purposes
of
this
Section
2
(
a
)
,
beneficial
ownership
shall
be
calculated
in
accordance
with
Section
13
(
d
)
of
the
Securities
Exchange
Act
of
1934
(
the
1934
Act
)
and
the
rules
promulgated
thereunder
.
For
purposes
of
determining
the
number
of
outstanding
shares
of
Common
Stock
the
Holder
may
acquire
upon
the
exercise
of
this
Warrant
without
exceeding
the
Maximum
Percentage
,
the
Holder
may
rely
on
the
number
of
outstanding
shares
of
Common
Stock
as
reflected
in
(
x
)
the
Companys
most
recent
Annual
Report
on
Form
10-K
,
Quarterly
Report
on
Form
10-Q
,
Current
Report
on
Form
8-K
or
other
public
filing
with
the
SEC
,
as
the
case
may
be
,
(
y
)
a
more
recent
public
announcement
by
the
Company
or
(
z
)
any
other
more
recent
written
notice
by
the
Company
or
the
Transfer
Agent
,
if
any
,
setting
forth
the
number
of
shares
of
Common
Stock
outstanding
(
the
Reported
Outstanding
Share
Number
)
.
If
the
Company
receives
a
Notice
of
Exercise
from
the
Holder
at
a
time
when
the
actual
number
of
outstanding
shares
of
Common
Stock
is
less
than
the
Reported
Outstanding
Share
Number
,
the
Company
shall
(
i
)
notify
the
Holder
in
writing
of
the
number
of
shares
of
Common
Stock
then
outstanding
and
,
to
the
extent
that
such
Notice
of
Exercise
would
otherwise
cause
the
Holders
beneficial
ownership
,
as
determined
pursuant
to
this
Section
2
(
a
)
,
to
exceed
the
Maximum
Percentage
,
the
Holder
must
notify
the
Company
of
a
reduced
number
of
Warrant
Shares
to
be
acquired
pursuant
to
such
Notice
of
Exercise
(
the
number
of
shares
by
which
such
purchase
is
reduced
,
the
Reduction
Shares
)
and
(
ii
)
as
soon
as
reasonably
practicable
,
the
Company
shall
return
to
the
Holder
any
exercise
price
paid
by
the
Holder
for
the
Reduction
Shares
.
For
any
reason
at
any
time
,
upon
the
written
or
oral
request
of
the
Holder
,
the
Company
shall
within
one
(
1
)
Business
Day
confirm
orally
and
in
writing
or
by
electronic
mail
to
the
Holder
the
number
of
shares
of
Common
Stock
then
outstanding
.
In
any
case
,
the
number
of
outstanding
shares
of
Common
Stock
shall
be
determined
after
giving
effect
to
the
conversion
or
exercise
of
securities
of
the
Company
,
including
this
Warrant
,
by
the
Holder
and
any
other
Attribution
Party
since
the
date
as
of
which
the
Reported
Outstanding
Share
Number
was
reported
.
In
the
event
that
the
issuance
of
shares
of
Common
Stock
to
the
Holder
upon
exercise
of
this
Warrant
results
in
the
Holder
and
the
other
Attribution
Parties
being
deemed
to
beneficially
own
,
in
the
aggregate
,
more
than
the
Maximum
Percentage
of
the
number
of
outstanding
shares
of
Common
Stock
(
as
determined
under
Section
13
(
d
)
of
the
1934
Act
and
the
rules
promulgated
thereunder
)
,
the
number
of
shares
so
issued
by
which
the
Holders
and
the
other
Attribution
Parties
aggregate
beneficial
ownership
exceeds
the
Maximum
Percentage
(
the
Excess
Shares
)
shall
be
deemed
null
and
void
and
shall
be
cancelled
ab
initio
,
and
the
Holder
shall
not
have
the
power
to
vote
or
to
transfer
the
Excess
Shares
.
As
soon
as
reasonably
practicable
after
the
issuance
of
the
Excess
Shares
has
been
deemed
null
and
void
,
(
i
)
the
Company
shall
return
to
the
Holder
the
exercise
price
paid
by
the
Holder
for
the
Excess
Shares
,
and
(
ii
)
the
Holder
shall
provide
any
documentation
reasonably
requested
by
the
Company
to
effect
such
cancellation
on
the
records
of
the
Company
and
its
transfer
agent
.
Upon
delivery
of
a
written
notice
to
the
Company
,
the
Holder
may
from
time
to
time
increase
or
decrease
the
Maximum
Percentage
to
any
other
percentage
as
specified
in
such
notice
;
provided
that
(
i
)
any
such
increase
in
the
Maximum
Percentage
will
not
be
effective
until
the
sixty-first
(
61st
)
day
after
such
notice
is
delivered
to
the
Company
,
and
(
ii
)
any
such
increase
or
decrease
will
apply
only
to
the
Holder
and
the
other
Attribution
Parties
and
not
to
any
other
holder
of
Warrants
issued
in
connection
with
the
Purchase
Agreement
that
is
not
an
Attribution
Party
of
the
Holder
.
For
purposes
of
clarity
,
the
shares
of
Common
Stock
issuable
pursuant
to
the
terms
of
this
Warrant
in
excess
of
the
Maximum
Percentage
shall
not
be
deemed
to
be
beneficially
owned
by
the
Holder
for
any
purpose
including
for
purposes
of
Section
13
(
d
)
or
Rule
16a-1
(
a
)
(
1
)
of
the
1934
Act
.
No
prior
inability
to
exercise
this
Warrant
pursuant
to
this
paragraph
shall
have
any
effect
on
the
applicability
of
the
provisions
of
this
paragraph
with
respect
to
any
subsequent
determination
of
exercisability
.
The
provisions
of
this
paragraph
shall
be
construed
and
implemented
in
a
manner
otherwise
than
in
strict
conformity
with
the
terms
of
this
Section
2
(
a
)
to
the
extent
necessary
to
correct
this
paragraph
or
any
portion
of
this
paragraph
which
may
be
defective
or
inconsistent
with
the
intended
beneficial
ownership
limitation
contained
in
this
Section
2
(
a
)
or
to
make
changes
or
supplements
necessary
or
desirable
to
properly
give
effect
to
such
limitation
.
The
limitation
contained
in
this
paragraph
may
not
be
waived
and
shall
apply
to
a
successor
holder
of
this
Warrant
.
Within
three
(
3
)
Business
Days
(
as
defined
below
)
following
the
date
of
exercise
as
aforesaid
,
the
Holder
shall
deliver
the
aggregate
Exercise
Price
(
as
defined
below
)
for
the
shares
specified
in
the
applicable
Notice
of
Exercise
by
wire
transfer
in
immediately
available
funds
or
cashiers
check
drawn
on
a
United
States
bank
in
immediately
available
funds
.
A
Business
Day
means
any
day
other
than
a
Saturday
or
Sunday
or
any
day
that
national
commercial
banks
in
New
York
City
,
New
York
are
authorized
or
required
to
close
or
any
day
that
the
NADSAQ
stock
markets
or
any
other
nationally
recognized
stock
markets
are
closed
.
Notwithstanding
anything
herein
to
the
contrary
,
the
Holder
shall
not
be
required
to
physically
surrender
this
Warrant
to
the
Company
u