Exhibit 4.3 


 EXECUTION COPY


FORM
OF WARRANT


NEITHER
THESE SECURITIES NOR THE SECURITIES ISSUABLE UPON EXERCISE OF THESE SECURITIES HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR
SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OR (B) AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT
AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS OR BLUE SKY LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL REASONABLY
SATISFACTORY TO THE COMPANY AND ITS TRANSFER AGENT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES. 


 


GUIDED
THERAPEUTICS, INC.


 


WARRANT
TO PURCHASE COMMON STOCK


 


	 	 	 
	Warrant No. C-____	 	Original Issue
    Date: ____________, 2015


 


Guided
Therapeutics, Inc., a Delaware corporation (the “Company”), hereby certifies that, for value received, ___________
or its permitted registered assigns (the “Holder”), is entitled to purchase from the Company up to a total
of __________ shares of common stock, $0.001 par value per share (the “Common Stock”), of the Company (each
such share, a “Warrant Share” and all such shares, the “Warrant Shares”) at an exercise
price per share equal to the Exercise Price (as defined below), as adjusted from time to time as provided in Section 9,
at any time and from time to time on or after the date hereof (the “Original Issue Date”) and through and including
5:30 P.M., New York City time, on the date that is five (5) years from the Original Issue Date (the “Expiration Date”).
The purchase of the Warrant Shares is further subject to the following terms and conditions:


 


This
Warrant (this “Warrant”) is one of a series of similar warrants issued pursuant to that certain Securities
Purchase Agreement, dated June 29, 2015, by and among the Company and the Purchasers identified therein (the “Purchase
Agreement”). All such Warrants are referred to herein, collectively, as the “Warrants.”


 


1.     Definitions.
In addition to the terms defined elsewhere in this Warrant, capitalized terms that are not otherwise defined herein have the meanings
given to such terms in the Purchase Agreement.


 


2.     Registration
of Warrants. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose
(the “Warrant Register”), in the name of the record Holder (which shall include the initial Holder or, as the
case may be, any registered assignee to which this Warrant is permissibly assigned hereunder) from time to time. The Company may
deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any
distribution to the Holder, and for all other purposes, absent actual notice to the contrary.


 


3.      Registration
of Transfers. Subject to the restrictions on transfer set forth in Section 4.1 of the Purchase Agreement and compliance
with all applicable securities laws, the Company shall register the transfer of all or any portion of this Warrant in the Warrant
Register, upon surrender of this Warrant, with the Form of Assignment attached as Schedule 2 hereto duly completed and
signed, to the Company’s transfer agent or to the Company at its address specified in the Purchase Agreement and (x) delivery,
at the request of the Company, of an opinion of counsel reasonably satisfactory to the Company to the effect that the transfer
of such portion of this Warrant may be made pursuant to an available exemption from the registration requirements of the Securities
Act and all applicable state securities or blue sky laws and (y) delivery by the transferee of a written statement to the Company,
at the Company’s address specified in the Purchase Agreement, (i) certifying that the transferee is an “accredited
investor” as defined in Rule 501(a) under the Securities Act, (ii) making the representations and certifications set forth
in Sections 3.2(b), (c) and (d) of the Purchase Agreement, and (iii) at all times prior to the effectiveness of the Charter Amendment,
agreeing to be bound, as a Purchaser, by Section 14.15 of the Purchase Agreement. Upon any such registration or transfer, a new
warrant to purchase Common Stock in substantially the form of this Warrant (any such new warrant, a “New Warrant”)
evidencing the portion of this Warrant so transferred shall be issued to the transferee, and a New Warrant evidencing the remaining
portion of this Warrant not so transferred, if any, shall be issued to the transferring Holder. The acceptance of the New Warrant
by the transferee thereof shall be deemed the acceptance by such transferee of all of the rights and obligations in respect of
the New Warrant that the Holder has in respect of this Warrant. The Company shall prepare, issue and deliver at its own expense
any New Warrant under this Section 3.


 


4.     Exercise
Price, Exercise and Duration of Warrants.


 


(a)The
“Exercise Price” of this Warrant shall be $0.095 per Warrant Share, subject to adjustment as provided herein.


 


(b)Subject
to Section 14.15 of the Purchase Agreement, all or any part of this Warrant shall be exercisable by the registered Holder in any
manner permitted by Section 10 at any time and from time to time on or after the Original Issue Date and through and including
5:30 P.M. New York City time, on the Expiration Date. At 5:30 P.M., New York City time, on the Expiration Date, the portion of
this Warrant not exercised prior thereto shall be and become void and of no value and this Warrant shall be terminated and no
longer outstanding.


 


(c)The
Holder may exercise this Warrant by delivering to the Company (i) an exercise notice, in the form attached as Schedule 1
(the “Exercise Notice”), completed and duly signed and delivered in accordance with Section 13, and
(ii) payment of the Exercise Price for the number of Warrant Shares as to which this Warrant is being exercised (which may take
the form of a “cashless exercise” if so indicated in the Exercise Notice and if a “cashless exercise”
may occur at such time pursuant to Section 10). The date on which the Exercise Notice is delivered to the Company (as determined
in accordance with the notice provisions hereof) is an “Exercise Date.” No medallion guarantee (or any other
type of guarantee or notarization) or ink-original of any Exercise Notice shall be required for a proper exercise by a Holder
of this Warrant. The delivery by (or on behalf of) the Holder of the Exercise Notice and the applicable Exercise Price as provided
above shall constitute the Holder’s certification to the Company that its representations contained in Sections 3.2(b),
(c) and (d) of the Purchase Agreement are true and correct as of the Exercise Date as if remade in their entirety (or, in the
case of any transferee Holder that is not a party to the Purchase Agreement, such transferee Holder’s certification to the
Company that such representations are true and correct as to such assignee Holder as of the Exercise Date). The Holder shall not
be required to deliver the original Warrant in order to effect an exercise hereunder; provided, however, that the
Holder shall deliver the original Warrant following the exercise by the Holder for the last of the Warrant Shares as to which
such Warrant permits the Holder to purchase, and if the Warrant is not so delivered following such exercise then such exercise
shall constitute an agreement by the Holder to deliver the original Warrant to the Company as soon as practicable thereafter.
Execution and delivery of the Exercise Notice shall have the same effect as cancellation of the original Warrant and issuance
of a New Warrant evidencing the right to purchase the remaining number of Warrant Shares.


 


5.     Delivery
of Warrant Shares.


 


(a)
Upon exercise of this Warrant, the Company shall promptly (but in no event later than three (3) Trading Days after the Exercise
Date (“Warrant Exercise Date”), provided that payment of the Exercise Price for the Warrant Shares has
been made in any manner permitted by Section 10 by the close of the second (2nd) Trading Day after the Exercise
Date and further provided that the Exercise Notice has not been withdrawn pursuant to Section 14.15 of the Purchase
Agreement, issue or cause to be issued and cause to be delivered to or upon the written order of the Holder and in such name or
names as the Holder may designate (provided that, if the Registration Statement is not effective and the Holder directs the Company
to deliver a certificate for the Warrant Shares in a name other than that of the Holder or an Affiliate of the Holder, it shall
deliver to the Company on the Exercise Date an opinion of counsel reasonably satisfactory to the Company to the effect that the
issuance of such Warrant Shares in such other name may be made pursuant to an available exemption from the registration requirements
of the Securities Act and all applicable state securities or blue sky laws), (i) a certificate for the Warrant Shares issuable
upon such exercise, free of restrictive legends, or (ii) an electronic delivery of the Warrant Shares to the Holder’s account
at the Depository Trust Company (“DTC”) or a similar organization, unless in the case of clause (i) and (ii)
a registration statement covering the resale of the Warrant Shares and naming the Holder as a selling stockholder thereunder is
not then effective and the Warrant Shares are not freely transferable without restriction under Rule 144 under the Securities
Act (such transferability without restriction to be evidenced by an opinion of counsel reasonably satisfactory to the Company)
by Holders who are not affiliates of the Company, in which case such Holder shall receive a certificate for the Warrant Shares
issuable upon such exercise with appropriate restrictive legends. Unless the Holder withdraws the Exercise Notice prior to actual
delivery of the Warrant Shares, the Holder, or any Person permissibly so designated by the Holder to receive Warrant Shares, shall
be deemed to have become the holder of record of such Warrant Shares as of the Exercise Date. If the Warrant Shares are to be
issued free of all restrictive legends, the Company shall, upon the written request of the Holder, use its commercially reasonable
efforts to deliver, or cause to be delivered, Warrant Shares hereunder electronically through DTC or another established clearing
corporation performing similar functions, if available, provided that the Company will not be required to change its transfer
agent if its current transfer agent cannot deliver Warrant Shares electronically through such a clearing corporation. If the Company
fails for any reason to deliver to the Holder the Warrant Shares subject to a validly submitted, and not withdrawn, Notice of
Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a
penalty, for each $1,000 of Warrant Shares subject to such exercise (based on the VWAP of the Common Stock on the date of the
applicable Notice of Exercise), $10 per Trading Day for each Trading Day after such Warrant Share Delivery Date until such Warrant
Shares are delivered or Holder rescinds such exercise.


 


(b)If
by the close of the third (3rd) Trading Day after the Exercise Date (provided that payment of the Exercise Price
for the Warrant Shares has been made in any manner permitted by Section 10 by the close of the second (2nd)
Trading Day after the Exercise Date and further provided that the Exercise Notice has not been withdrawn pursuant to Section
14.15 of the Purchase Agreement), the Company fails to deliver to the Holder a certificate representing the required number of
Warrant Shares in the manner required pursuant to Section 5(a), and if after such third (3rd) Trading Day and
prior to the receipt of such Warrant Shares, the Holder purchases (in an open market transaction or otherwise) shares of Common
Stock to deliver in satisfaction of a sale by the Holder of the Warrant Shares which the Holder anticipated receiving upon such
exercise (a “Buy-In”), the Company shall, within three (3) Business Days after the Holder’s request and
in the Holder’s sole discretion, either (i) pay cash to the Holder in an amount equal to the Holder’s total purchase
price (including brokerage commissions and other out-of-pocket expenses, if any) for the shares of Common Stock so purchased (including,
without limitation, by any other Person in respect, or on behalf, of the Holder) (the “Buy-In Price”), at which
point the Company’s obligation to issue and deliver such shares of Common Stock shall terminate, or (ii) promptly honor
its obligation to issue and deliver to the Holder such Warrant Shares and pay cash to the Holder in an amount equal to the excess
(if any) of the Buy-In Price over the product of (A) the number of Warrant Shares that the Company failed to issue and deliver
multiplied by (B) the Closing Bid Price on the Exercise Date.


 


6.     Charges,
Taxes and Expenses. Issuance and delivery of certificates for shares of Common Stock upon exercise of this Warrant shall be
made without charge to the Holder for any issue or transfer tax, transfer agent fee or other incidental tax or expense in respect
of the issuance of such certificates, all of which taxes and expenses shall be paid by the Company; provided, however,
that the Company shall not be required to pay any tax that may be payable in respect of any transfer involved in the registration
of any certificates for Warrant Shares or the Warrants in a name other than that of the Holder or an Affiliate thereof. The Holder
shall be responsible for all other tax liability that may arise as a result of holding or transferring this Warrant or receiving
Warrant Shares upon exercise hereof.


 


7.     Replacement
of Warrant. If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange
and substitution for and upon cancellation hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only upon
receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction (in such case) and, in each case,
a customary and reasonable indemnity and surety bond, if requested by the Company. Applicants for a New Warrant under such circumstances
shall also comply with such other reasonable regulations and procedures and pay such other reasonable third-party costs as the
Company may prescribe. If a New Warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver
such mutilated Warrant to the Company as a condition precedent to the Company’s obligation to issue the New Warrant.


 


8.     Reservation
of Warrant Shares. Upon the effectiveness of the Charter Amendment and for so long as this Warrant is outstanding, the Company
shall reserve and keep available out of the aggregate of its authorized but unissued and otherwise unreserved Common Stock, solely
for the purpose of enabling it to issue Warrant Shares upon exercise of this Warrant as herein provided, the number of Warrant
Shares that are then issuable and deliverable upon the exercise of this entire Warrant, free from preemptive rights or any other
contingent purchase rights of persons other than the Holder (taking into account the adjustments and restrictions of Section
9). The Company covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant Shares upon the
exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure
that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements
of the Trading Market upon which the Common Stock may be listed. The Company further covenants that all Warrant Shares so issuable
and deliverable shall, upon issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be
duly and validly authorized, issued and fully paid and nonassessable. The Company represents and warrants that the Warrant Shares,
when issued and paid for in accordance with the terms of the Transaction Documents and the Warrants, will be issued free and clear
of all security interests, claims, liens and other encumbrances other than restrictions imposed by applicable securities laws.
The Company will take all such action as may be reasonably necessary to assure that such shares of Common Stock may be issued
as provided herein without violation of any applicable law or regulation, or of any requirements of any securities exchange or
automated quotation system upon which the Common Stock may be listed.


 


9.    
Certain Adjustments. The Exercise Price and number of Warrant Shares issuable upon exercise of this Warrant are subject
to adjustment from time to time as set forth in this Section 9.


 


(a)Stock
Dividends and Splits. If the Company, at any time while this Warrant is outstanding, (i) pays a stock dividend on its Common
Stock or otherwise makes a distribution on any class of capital stock that is payable in shares of Common Stock, (ii) subdivides
its outstanding shares of Common Stock into a larger number of shares, (iii) combines its outstanding shares of Common Stock into
a smaller number of shares or (iv) issues by reclassification of shares of Common Stock any shares of capital stock of the Company,
then in each such case the Exercise Price shall be adjusted to a price determined by multiplying the Exercise Price in effect
immediately prior to the effective date of such event by a fraction, the numerator of which shall be the number of shares of Common
Stock outstanding on such effective date immediately before giving effect to such event and the denominator of which shall be
the number of shares of Common Stock outstanding immediately after giving effect to such event. Any adjustment made pursuant to
clause (i) of this Section 9(a) shall become effective immediately after the record date for the determination of stockholders
entitled to receive such dividend or distribution, and any adjustment pursuant to clause (ii), (iii) or (iv) of this Section
9(a) shall become effective immediately after the effective date of such subdivision, combination or reclassification.


 


(b)
Pro Rata Distributions. If the Company, at any time while this Warrant is outstanding, distributes to all holders of
Common Stock for no consideration (i) evidences of its indebtedness, (ii) any security (other than a distribution of Common Stock
covered by Section 9(a)) or (iii) rights or warrants to subscribe for or purchase any security, or (iv) any other asset,
including cash (in each case, “Distributed Property”), then, upon any exercise of this Warrant that occurs
after the record date fixed for determination of stockholders entitled to receive such distribution, the Holder shall be entitled
to receive, in addition to the Warrant Shares otherwise issuable upon such exercise (if applicable), the Distributed Property
that such Holder would have been entitled to receive in respect of such number of Warrant Shares had the Holder been the record
holder of such Warrant Shares immediately prior to such record date.


 


(c)Fundamental
Transactions. If, at any time while this Warrant is outstanding (i) the Company effects any merger or consolidation of
the Company with or into another Person, in which the Company is not the survivor or the stockholders of the Company immediately
prior to such merger or consolidation do not own, directly or indirectly, at least 50% of the voting securities of the surviving
entity, (ii) the Company effects any sale of all or substantially all of its assets or a majority of its Common Stock is acquired
by a third party, in each case, in one or a series of related transactions, (iii) any tender offer or exchange offer (whether
by the Company or another Person) is completed pursuant to which all or substantially all of the holders of Common Stock are permitted
to tender or exchange their shares for other securities, cash or property, or (iv) the Company effects any reclassification of
the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged
for other securities, cash or property (other than as a result of a subdivision or combination of shares of Common Stock covered
by Section 9(a)) (in any such case, a “Fundamental Transaction”), then the Holder shall have the right
thereafter to receive, upon exercise of this Warrant, the same amount and kind of securities, cash or property as it would have
been entitled to receive upon the occurrence of such Fundamental Transaction if it had been, immediately prior to such Fundamental
Transaction, the holder of the number of Warrant Shares then issuable upon exercise in full of this Warrant without regard to
any limitations on exercise contained herein (the “Alternate Consideration”), and the Holder shall no longer
have the right to receive Warrant Shares upon exercise of this Warrant. The Company shall not effect any such Fundamental Transaction
unless prior to or simultaneously with the consummation thereof, any successor to the Company, surviving entity or the corporation
purchasing or otherwise acquiring such assets or other appropriate corporation or Person shall assume the obligation to deliver
to the Holder, such Alternate Consideration as, in accordance with the foregoing provisions, the Holder may be entitled to receive,
and the other obligations under this Warrant. The provisions of this Section 9(c) shall similarly apply to subsequent
transactions of an analogous type to any Fundamental Transaction. Notwithstanding the foregoing, in the event of a Fundamental
Transaction that is (1) a transaction where the consideration paid to the holders of the Common Stock consists of cash, (2) a
“Rule 13e-3 transaction” as defined in Rule 13e-3 under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), or (3) a Fundamental Transaction in which the Holder would otherwise be entitled to receive securities of a person
or entity not traded on the New York Stock Exchange, the NYSE Amex Equities (formerly the American Stock Exchange), the NASDAQ
Global Select Market, the NASDAQ Global Market, the NASDAQ Capital Market or the OTC Bulletin Board, at the request of the Holder
delivered before the sixtieth (60th) day after such Fundamental Transaction, the Company (or the successor entity to
the Company) shall purchase this Warrant from the Holder by paying to the Holder, within five (5) Trading Days after such request
(or, if later, on the effective date of the Fundamental Transaction), cash in an amount equal to the Black Scholes Value of the
remaining unexercised portion of this Warrant on the date of such Fundamental Transaction. Any Holder that receives cash pursuant
to the immediately preceding sentence shall not receive any Alternative Consideration. For purposes hereof, “Black Scholes
Value” means the value of the Warrant based on the Black Scholes Option Pricing Model obtained from the “OV”
function on Bloomberg determined as of the day immediately following the public announcement of the applicable Fundamental Transaction
and reflecting (i) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining term
of this Warrant as of such date of request and (ii) an expected volatility equal to the greater of (A) one hundred percent (100%)
and (B) the one hundred and eighty (180) day volatility obtained from the HVT function on Bloomberg determined as of the Trading
Day immediately prior to the announcement of the Fundamental Transaction.


 


(d)
Number of Warrant Shares. Simultaneously with any adjustment to the Exercise Price pursuant to Section 9(a),
the number of Warrant Shares that may be purchased upon exercise of this Warrant shall be increased or decreased proportionately,
so that after such adjustment the aggregate Exercise Price payable hereunder for the increased or decreased number of Warrant
Shares shall be the same as the aggregate Exercise Price in effect immediately prior to such adjustment.


 


(e)Subsequent
Issuances


 


(i)
For so long as this Warrant is outstanding, if the Company shall issue or sell any shares of Common Stock (as actually issued
or, pursuant to Section 9(e)(ii), deemed to be issued) for a consideration per share less than the Exercise Price in effect
immediately prior to such issue or sale, then immediately upon such issue or sale the Exercise Price shall automatically be adjusted
to a price equal to the price paid per share in such sale or issue; provided, however, that in no event shall the
Exercise Price be adjusted to a price less than $0.50 per share (as the same may be adjusted for any actions described in Sections
9(a) and 9(b):


 


(ii)
Section 9(e)(i) shall not apply to Exempt Issuances (as defined in the Certificate of Designations).


 


(iii)
For the purposes of Section 9(e)(i), the following clauses (A) to (C), inclusive, shall also be applicable:


 


(A)In
case at any time the Company shall grant any rights to subscribe for, or any rights or options to purchase, Common Stock Equivalents,
whether or not such rights or options or the right to convert or exchange any such Common Stock Equivalents are immediately exercisable,
and the price per share for which Common Stock is issuable upon the exercise of such rights or options or upon conversion or exchange
of such Common Stock Equivalents (determined by dividing (x) the total amount, if any, received or receivable by the Company as
consideration for the granting of such rights or options, plus the minimum aggregate amount of additional consideration payable
to the Company upon the exercise of such rights or options, plus, in the case of any such rights or options which relate to such
Common Stock Equivalents, the minimum aggregate amount of additional consideration, if any, payable upon the issue or sale of
such Common Stock Equivalents and upon the conversion or exchange thereof, by (y) the total maximum number of shares of Common
Stock issuable upon the exercise of such rights or options or upon the conversion or exchange of all such Common Stock Equivalents
issuable upon the exercise of such rights or options) shall be less than the Exercise Price in effect immediately prior to the
time of the granting of such rights or options, then the total maximum number of shares of Common Stock issuable upon the exercise
of such rights or options or upon conversion or exchange of the total maximum amount of such Common Stock Equivalents issuable
upon the exercise of such rights or options shall (as of the date of granting of such rights or options) be deemed to be outstanding
and to have been issued for such price per share.


(B)In
case at any time the Company shall issue or sell any Common Stock Equivalents, whether or not the rights to exchange or convert
thereunder are immediately exercisable, and the price per share for which Common Stock is issuable upon such conversion or exchange
(determined by dividing (x) the total amount received or receivable by the Company as consideration for the issue or sale of such
Common Stock Equivalents, plus the minimum aggregate amount of additional consideration, if any, payable to the Company upon the
conversion or exchange thereof, by (y) the total maximum number of shares of Common Stock issuable upon the conversion or exchange
of all such Common Stock Equivalents) shall be less than the Exercise Price in effect immediately prior to the time of such issue
or sale, then the total maximum number of shares of Common Stock issuable upon conversion or exchange of such Common Stock Equivalents
shall (as of the date of the issue or sale of such Common Stock Equivalents) be deemed to be outstanding and to have been issued
for such price per share, provided that if any such issue or sale of such Common Stock Equivalents is made upon exercise of any
rights to subscribe for or to purchase or any option to purchase any such Common Stock Equivalents for which adjustments of the
conversion price have been or are to be made pursuant to other provisions of this Section 9(e), no further adjustment of
the conversion price shall be made by reason of such issue or sale.


(C)In
case at any time any shares of Common Stock or Common Stock Equivalents or any rights or options to purchase any such Common Stock,
or Common Stock Equivalents shall be issued or sold for cash, the consideration received therefor shall be deemed to be the amount
received by the Company therefor. In case any shares of Common Stock or Common Stock Equivalents or any rights or options to purchase
any such Common Stock or Common Stock Equivalents shall be issued or sold for a consideration other than cash, the amount of the
consideration other than cash received by the Company shall be deemed to be the fair value of such consideration as determined
by the board of directors.


(f)
Calculations. All calculations under this Section 9 shall be made to the nearest cent or the nearest share,
as applicable. The number of shares of Common Stock outstanding at any given time shall not include shares owned or held by or
for the account of the Company.


 


(g)
Notice of Adjustments. Upon the occurrence of each adjustment pursuant to this Section 9, the Company at its
expense will, at the written request of the Holder, promptly compute such adjustment, in good faith, in accordance with the terms
of this Warrant and prepare a certificate setting forth such adjustment, including a statement of the adjusted Exercise Price
and adjusted number or type of Warrant Shares or other securities issuable upon exercise of this Warrant (as applicable), describing
the transactions giving rise to such adjustments and showing in reasonable detail the facts upon which such adjustment is based.
Upon written request, the Company will promptly deliver a copy of each such certificate to the Holder and to the Company’s
transfer agent.


 


(h)
Notice of Corporate Events. If, while this Warrant is outstanding, the Company (i) declares a dividend or any other
distribution of cash, securities or other property in respect of its Common Stock, including, without limitation, any granting
of rights or warrants to subscribe for or purchase any capital stock of the Company or any subsidiary, (ii) authorizes or approves,
enters into any agreement contemplating or solicits stockholder approval for any Fundamental Transaction or (iii) authorizes the
voluntary dissolution, liquidation or winding up of the affairs of the Company, then, except if such notice and the contents thereof
shall be deemed to constitute material non-public information, the Company shall deliver to the Holder a notice of such transaction
at least ten (10) Trading Days prior to the applicable record or effective date on which a Person would need to hold Common Stock
in order to participate in or vote with respect to such transaction; provided, however, that the failure to deliver such
notice or any defect therein shall not affect the validity of the corporate action required to be described in such notice. To
the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company
or any of its subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report
on Form 8-K.


 


10.     
Payment of Exercise Price. The Holder shall pay the Exercise Price in immediately available funds; provided, however,
that if, on any Exercise Date after the Effectiveness Deadline there is not an effective Registration Statement registering, or
no current prospectus available for, the resale of the Warrant Shares by the Holder, then the Holder may, in its sole discretion,
satisfy its obligation to pay the Exercise Price through a “cashless exercise”, in which event the Company shall issue
to the Holder the number of Warrant Shares determined as follows:


 


X
= Y [(A-B)/A]


 


where:


 


“X”
equals the number of Warrant Shares to be issued to the Holder;


 


“Y”
equals the total number of Warrant Shares with respect to which this Warrant is being exercised;


 


           “A”
equals the Closing Sale Price of the shares of Common Stock for the Trading Day immediately preceding the Exercise Date; and


 


“B”
equals the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.


 


For
purposes of Rule 144 promulgated under the Securities Act, it is intended, understood and acknowledged that the Warrant Shares
issued in a “cashless exercise” transaction shall be deemed to have been acquired by the Holder, and the holding period
for the Warrant Shares shall be deemed to have commenced, on the date this Warrant was originally issued pursuant to the Purchase
Agreement (provided that the Commission continues to take the position that such treatment is proper at the time of such exercise).


 


11.
     Beneficial Ownership Limitations. Notwithstanding anything to the contrary contained herein, the number of Warrant
Shares that may be acquired by the Holder upon any exercise of this Warrant (or otherwise in respect hereof) shall be limited
to the extent necessary to ensure that, following such exercise (or other issuance), the total number of shares of Common Stock
then beneficially owned by the Holder and its Affiliates and any other Persons whose beneficial ownership of Common Stock would
be aggregated with the Holder’s for purposes of Section 13(d) of the Exchange Act, does not exceed 4.99% of the total number
of then issued and outstanding shares of Common Stock (including for such purpose the shares of Common Stock issuable upon such
exercise), it being acknowledged by the Holder that the Company is not representing to such Holder that such calculation is in
compliance with Section 13(d) of the Exchange Act and such Holder is solely responsible for any schedules required to be filed
in accordance therewith. To the extent that the limitation contained in this Section 11 applies, the determination of whether
this Warrant is exercisable (in relation to other securities owned by such Holder) and of which a portion of this Warrant is exercisable
shall be in the sole discretion of a Holder, and the submission of a Notice of Exercise shall be deemed to be the Holder’s
determination of whether this Warrant is exercisable (in relation to other securities owned by such Holder) and of which portion
of this Warrant is exercisable, in each case subject to such aggregate percentage limitation, and the Company shall have no obligation
to verify or confirm the accuracy of such determination. In addition, a determination as to any group status as contemplated above
shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
For purposes of this Section 11, in determining the number of outstanding shares of Common Stock, the Holder may rely on
the number of outstanding shares of Common Stock as reflected in (x) the Company’s most recent Form 10-Q or Form 10-K, as
the case may be, (y) a more recent public announcement by the Company or (z) any other notice by the Company or the Transfer Agent
setting forth the number of shares of Common Stock outstanding. Upon the written request of the Holder, the Company shall within
three (3) Trading Days confirm orally and in writing to such Holder the number of shares of Common Stock then outstanding. This
provision shall not restrict the number of shares of Common Stock which a Holder may receive or beneficially own in order to determine
the amount of securities or other consideration that such Holder may receive in the event of a Fundamental Transaction as contemplated
in Section 9. By written notice to the Company, which will not be effective until the sixty-first (61st) day
after such notice is delivered to the Company, the Holder may waive the provisions of this Section 11 (but such waiver
will not affect any other holder) to change the beneficial ownership limitation to 9.99% of the number of shares of the Common
Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of this Warrant, and
the provisions of this Section 11 shall continue to apply. Upon such a change by a Holder of the beneficial ownership limitation
from such 4.99% limitation to such 9.99% limitation, the beneficial ownership limitation may not be further waived by such Holder.


 


12.     
No Fractional Shares. No fractional Warrant Shares will be issued in connection with any exercise of this Warrant.
In lieu of any fractional shares that would otherwise be issuable, the number of Warrant Shares to be issued shall be rounded
down to the next whole number and the Company shall pay the Holder in cash the fair market value (based on the Closing Sale Price)
for any such fractional shares.


 


13.
     Notices. . Whenever notice is required to be given under this Warrant, unless otherwise provided herein, such notice
shall be given in accordance with Section 6.3 of the Purchase Agreement.


 


14.
     Warrant Agent. The Company shall serve as warrant agent under this Warrant. Upon thirty (30) days’ notice to
the Holder, the Company may appoint a new warrant agent. Any corporation into which the Company or any new warrant agent may be
merged or any corporation resulting from any consolidation to which the Company or any new warrant agent shall be a party or any
corporation to which the Company or any new warrant agent transfers substantially all of its corporate trust or shareholders services
business shall be a successor warrant agent under this Warrant without any further act. Any such successor warrant agent shall
promptly cause notice of its succession as warrant agent to be mailed (by first class mail, postage prepaid) to the Holder at
the Holder’s last address as shown on the Warrant Register.


 


15.
    Miscellaneous.


 


(a)No
Rights as a Stockholder. The Holder, solely in such Person’s capacity as a holder of this Warrant, shall not be entitled
to vote or receive dividends or be deemed the holder of share capital of the Company for any purpose, nor shall anything contained
in this Warrant be construed to confer upon the Holder, solely in such Person’s capacity as the Holder of this Warrant,
any of the rights of a stockholder of the Company or any right to vote, give or withhold consent to any corporate action (whether
any reorganization, issue of stock, reclassification of stock, consolidation, merger, amalgamation, conveyance or otherwise),
receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the Holder of the
Warrant Shares which such Person is then entitled to receive upon the due exercise of this Warrant. In addition, nothing contained
in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities (upon exercise of this
Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company or by creditors
of the Company.


 


(b)No
Impairment.


(i)
Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without
limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger,
dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of
any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the
taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against
impairment. Without limiting the generality of the foregoing, the Company will (a) not increase the par value of any Warrant Shares
above the amount payable therefor upon such exercise immediately prior to such increase in par value, (b) take all such action
as may be reasonably necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable
Warrant Shares upon the exercise of this Warrant, and (c) use commercially reasonable efforts to obtain all such authorizations,
exemptions or consents from any public regulatory body having jurisdiction thereof as may be necessary to enable the Company to
perform its obligations under this Warrant.


(ii)
Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable
or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may
be necessary from any public regulatory body or bodies having jurisdiction thereof.


(c)Successors
and Assigns. Subject to the restrictions on transfer set forth in this Warrant and in Section 4.1 of the Purchase Agreement,
and compliance with applicable securities laws, this Warrant may be assigned by the Holder. This Warrant may not be assigned by
the Company without the written consent of the Holder except to a successor in the event of a Fundamental Transaction. This Warrant
shall be binding on and inure to the benefit of the Company and the Holder and their respective successors and assigns. Subject
to the preceding sentence, nothing in this Warrant shall be construed to give to any Person other than the Company and the Holder
any legal or equitable right, remedy or cause of action under this Warrant.


 


(d)Amendment
and Waiver. Except as expressly provided in this Warrant, no provision of this Warrant may be waived, modified, supplemented
or amended except in a written instrument signed by the Company and the Holder. No waiver of any default with respect to any provision,
condition or requirement of this Warrant shall be deemed to be a continuing waiver in the future or a waiver of any subsequent
default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of either party to
exercise any right hereunder in any manner impair the exercise of any such right.


 


(e)Acceptance.
Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all of the terms and conditions contained
herein.


 


(f)
Headings. The headings herein are for convenience only, do not constitute a part of this Warrant and shall not be deemed
to limit or affect any of the provisions hereof.


 


(g)
Severability. In case any one or more of the provisions of this Warrant shall be invalid or unenforceable in any respect,
the validity and enforceability of the remaining terms and provisions of this Warrant shall not in any way be affected or impaired
thereby, and the Company and the Holder will attempt in good faith to agree upon a valid and enforceable provision which shall
be a commercially reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Warrant.


 


(h)Governing
Law. This Warrant shall be governed by, and construed in accordance with, the laws of the State of New York, regardless of
the laws that might otherwise govern under applicable principles of conflicts of law.


 


(i)
Dispute Resolution. The parties (a) hereby irrevocably and unconditionally submit to the jurisdiction of the state
courts of the State of North Carolina and to the jurisdiction of the United States District Court for the Eastern District of
North Carolina for the purpose of any suit, action or other proceeding arising out of or based upon this Warrant, (b) agree not
to commence any suit, action or other proceeding arising out of or based upon this Agreement except in the state courts of the
State of North Carolina or the United States District Court for the Eastern District of North Carolina, and (c) hereby waive,
and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit, action or proceeding, any claim that
it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment
or execution, that the suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action or proceeding
is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.


 


WAIVER
OF JURY TRIAL: EACH PARTY HEREBY WAIVES ITS RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF
THIS WARRANT, THE OTHER TRANSACTION DOCUMENTS, THE SECURITIES ISSUED PURSUANT THERETO OR THE SUBJECT MATTER HEREOF OR THEREOF.
THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL-ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY COURT AND THAT RELATE
TO THE SUBJECT MATTER OF THIS TRANSACTION, INCLUDING, WITHOUT LIMITATION, CONTRACT CLAIMS, TORT CLAIMS (INCLUDING NEGLIGENCE),
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. THIS SECTION HAS BEEN FULLY DISCUSSED BY EACH OF THE PARTIES
HERETO AND THESE PROVISIONS WILL NOT BE SUBJECT TO ANY EXCEPTIONS. EACH PARTY HERETO HEREBY FURTHER WARRANTS AND REPRESENTS THAT
SUCH PARTY HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL, AND THAT SUCH PARTY KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL
RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL.


 


 


[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]


 


 


 


 


 






    	 



    	 



    

 


IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by its authorized officer as of the date first indicated
above.


 


	 	 	 	 
	 	 	 	GUIDED THERAPEUTICS, INC.
	 	 	 	 	 
	 	 	 	By: __________________________
	 	 	 	Name:
	 	 	 	Title:
	 	 	 	 	 	 


 


 


 


 


 


 






    	 



    	 



    

 


SCHEDULE
1


 


GUIDED
THERAPEUTICS, INC.


 


FORM
OF EXERCISE NOTICE


 


[To
be executed by the Holder to purchase shares of Common Stock under the Warrant]


 


Ladies
and Gentlemen:


 


(1)    The
undersigned is the Holder of Warrant No. __________ (the “Warrant”) issued by Guided Therapeutics, Inc., a
Delaware corporation (the “Company”). Capitalized terms used herein and not otherwise defined herein have the
respective meanings set forth in the Warrant.


 


(2)     The
undersigned hereby exercises its right to purchase __________ Warrant Shares pursuant to the Warrant.


 


(3)     The
Holder intends that payment of the Exercise Price shall be made as (check one):


 


[
 ]        Cash Exercise


 


[  ]       “Cashless
Exercise” under Section 10 of the Warrant


 


(4)     If
the Holder has elected a Cash Exercise, the Holder shall pay the sum of $___________ in immediately available funds to the Company
in accordance with the terms of the Warrant.


 


(5)     Pursuant
to this Exercise Notice, the Company shall deliver to the Holder Warrant Shares determined in accordance with the terms of the
Warrant.


 


(6)     By
its delivery of this Exercise Notice, the undersigned represents and warrants to the Company that in giving effect to the exercise
evidenced hereby the Holder will not beneficially own in excess of the number of shares of Common Stock (as determined in accordance
with Section 13(d) of the Securities Exchange Act of 1934, as amended) permitted to be owned under Section 11 of the Warrant
to which this notice relates.


 


 


Dated:____________________


Name
of Holder: ___________________________


By:__________________________________

Name: _______________________________

Title: _______________________________


(Signature
must conform in all respects to name of Holder as specified on the face of the Warrant)


 


 






    	 



    	 



    

 


 


SCHEDULE
2


 


GUIDED
THERAPEUTICS, INC.


 


FORM
OF ASSIGNMENT


 


[To
be completed and executed by the Holder only upon transfer of the Warrant]


 


FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto (the “Transferee”) the right represented
by the within Warrant to purchase shares of Common Stock of Guided Therapeutics, Inc., a Delaware corporation (the “Company”),
to which the within Warrant relates and appoints attorney to transfer said right on the books of the Company with full power of
substitution in the premises. In connection therewith, the undersigned represents, warrants, covenants and agrees to and with
the Company that:


 


		(a)	the
                                         offer and sale of the Warrant contemplated hereby is being made in compliance with Section
                                         4(a)(1) of the United States Securities Act of 1933, as amended (the “Securities
                                         Act”), or another valid exemption from the registration requirements of Section
                                         5 of the Securities Act and in compliance with all applicable securities laws of the
                                         states of the United States;



		(b)	the
                                         undersigned has not offered to sell the Warrant by any form of general solicitation or
                                         general advertising, including, but not limited to, any advertisement, article, notice
                                         or other communication published in any newspaper, magazine or similar media or broadcast
                                         over television or radio, and any seminar or meeting whose attendees have been invited
                                         by any general solicitation or general advertising;



		(c)	the
                                         undersigned has read the Transferee’s investment letter included herewith, and
                                         to its actual knowledge, the statements made therein are true and correct; and



		(d)	the
                                         undersigned understands that the Company may condition the transfer of the Warrant contemplated
                                         hereby upon the delivery to the Company by the undersigned or the Transferee, as the
                                         case may be, of a written opinion of counsel (which opinion shall be in form, substance
                                         and scope reasonably satisfactory to the Company and customary for opinions of counsel
                                         in comparable transactions) to the effect that such transfer may be made without registration
                                         under the Securities Act and under applicable securities laws of the states of the United
                                         States.



	Dated:
    ____________ ___	 	 





         

	 	 	(Signature must
    conform in all respects to name of holder as specified on the face of the Warrant)
	 	 	 




         

	 	 	Address of Transferee
	 	 	 




         

	 	 	 




         

	In the presence of: