EXHIBIT
10.2


 


THIS
WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”),
OR ANY OTHER SECURITIES LAWS, HAVE BEEN TAKEN FOR INVESTMENT, AND MAY NOT BE SOLD OR TRANSFERRED OR OFFERED FOR SALE OR TRANSFER UNLESS
A REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND OTHER APPLICABLE SECURITIES LAWS WITH RESPECT TO SUCH SECURITIES IS THEN IN EFFECT,
OR IN THE OPINION OF COUNSEL (WHICH OPINION IS REASONABLY SATISFACTORY TO THE ISSUER OF THESE SECURITIES), SUCH REGISTRATION UNDER THE
SECURITIES ACT AND OTHER APPLICABLE SECURITIES LAWS IS NOT REQUIRED.


 


	Date:
    _________	 	Warrant
    to Purchase

    

    ***________***

    

    Shares



 


QSAM
BIOSCIECNES, INC.


 


WARRANT
FOR THE PURCHASE OF SHARES OF


COMMON
STOCK


 


Warrant
Price: $6.00 per share,
subject to adjustment as provided below.


 


THIS
IS TO CERTIFY that, for value received, ____________________, who has invested in the Company’s Common Stock offering (the “Holder”),
is entitled to purchase, subject to the terms and conditions hereinafter set forth, up to _______ shares [equal to 100% of common
shares purchased] of the common stock (“Common Stock”), of QSAM Biosciences, Inc. (the “Company”), and to
receive certificate(s) for the Common Stock so purchased.


 


1. Exercise
Period and Vesting. The exercise period is the period beginning on the date of this Warrant (the “Issuance Date”) and
ending at 5:00 p.m., New York time, on ___, 2024 [24 months from Closing] (the “Exercise Period”). This Warrant is
vested in full as of the Issuance Date and is immediately exercisable by Holder. This Warrant will terminate automatically and immediately
upon the expiration of the Exercise Period.


 


2. Exercise
of Warrant. This Warrant may be exercised, in whole or in part, at any time and from time to time during the Exercise Period. Such
exercise shall be accomplished by tender to the Company of the purchase price set forth above as the warrant price (the “Warrant
Price”), in cash by wire transfer or by certified check or bank cashier’s check, payable to the order of the Company, together
with presentation and surrender to the Company of this Warrant with an executed subscription in substantially the form attached hereto
as Exhibit A (the “Subscription”). Upon receipt of the foregoing, the Company will deliver to the Holder, as promptly
as possible, a certificate or certificates representing the shares of Common Stock so purchased, registered in the name of the Holder
or its transferee (as permitted under Section 3 below). With respect to any exercise of this Warrant, the Holder will for all purposes
be deemed to have become the holder of record of the number of shares of Common Stock purchased hereunder on the date this Warrant, a
properly executed Subscription and payment of the Warrant Price is received by the Company (the “Exercise Date”), irrespective
of the date of delivery of the certificate evidencing such shares, except that, if the date of such receipt is a date on which the stock
transfer books of the Company are closed, such person will be deemed to have become the holder of such shares at the close of business
on the next succeeding date on which the stock transfer books are open. Fractional shares of Common Stock will not be issued upon the
exercise of this Warrant. In lieu of any fractional shares that would have been issued but for the immediately preceding sentence, the
Holder will be entitled to receive cash equal to the current market price of such fraction of a share of Common Stock on the trading
day immediately preceding the Exercise Date. In the event this Warrant is exercised in part, the Company shall issue a new Warrant to
the Holder covering the aggregate number of shares of Common Stock as to which this Warrant remains exercisable for.


 




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3. Transferability
and Exchange.


 


(a) This
Warrant, and the Common Stock issuable upon the exercise hereof, may not be sold, transferred, pledged or hypothecated unless the Company
shall have been provided with an opinion of counsel, or other evidence reasonably satisfactory to it, that such transfer is not in violation
of the Securities Act, and any applicable state securities laws. Subject to the satisfaction of the aforesaid condition, this Warrant
and the underlying shares of Common Stock shall be transferable from time to time by the Holder upon written notice to the Company. If
this Warrant is transferred, in whole or in part, the Company shall, upon surrender of this Warrant to the Company, deliver to each transferee
a Warrant evidencing the rights of such transferee to purchase the number of shares of Common Stock that such transferee is entitled
to purchase pursuant to such transfer. The Company may place a legend similar to the legend at the top of this Warrant on any replacement
Warrant and on each certificate representing shares issuable upon exercise of this Warrant or any replacement Warrants. Only a registered
Holder may enforce the provisions of this Warrant against the Company. A transferee of the original registered Holder becomes a registered
Holder only upon delivery to the Company of the original Warrant and an original Assignment, substantially in the form set forth in Exhibit
B attached hereto.


 


(b) This
Warrant is exchangeable upon its surrender by the Holder to the Company for new Warrants of like tenor and date representing in the aggregate
the right to purchase the number of shares purchasable hereunder, each of such new Warrants to represent the right to purchase such number
of shares as may be designated by the Holder at the time of such surrender.


 


4. Adjustments
to Warrant Price and Number of Shares Subject to Warrant. The Warrant Price and the number of shares of Common Stock purchasable
upon the exercise of this Warrant are subject to adjustment from time to time upon the occurrence of any of the events specified in this
Section 4. For the purpose of this Section 4, “Common Stock” means shares now or hereafter authorized of any class of common
stock of the Company and any other stock of the Company, however designated, that has the right to participate in any distribution of
the assets or earnings of the Company without limit as to per share amount (excluding, and subject to any prior rights of, any class
or series of preferred stock).


 




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(a) In
case the Company shall (i) pay a dividend or make a distribution in shares of Common Stock or other securities, (ii) subdivide its outstanding
shares of Common Stock into a greater number of shares, (iii) combine its outstanding shares of Common Stock into a smaller number of
shares, or (iv) issue by reclassification of its shares of Common Stock other securities of the Company, then the Warrant Price in effect
at the time of the record date for such dividend or on the effective date of such subdivision, combination or reclassification, and/or
the number and kind of securities issuable on such date, shall be proportionately adjusted so that the Holder of any Warrant thereafter
exercised shall be entitled to receive the aggregate number and kind of shares of Common Stock (or such other securities other than Common
Stock) of the Company, at the same aggregate Warrant Price, that, if such Warrant had been exercised immediately prior to such date,
the Holder would have owned upon such exercise and been entitled to receive by virtue of such dividend, distribution, subdivision, combination
or reclassification. Such adjustment shall be made successively whenever any event listed above shall occur.


 


(b) In
case the Company shall fix a record date for the making of a distribution to all holders of Common Stock (including any such distribution
made in connection with a consolidation or merger in which the Company is the surviving corporation) of cash, evidences of indebtedness
or assets, or subscription rights or warrants, the Warrant Price to be in effect after such record date shall be determined by multiplying
the Warrant Price in effect immediately prior to such record date by a fraction, the numerator of which shall be the current market price
per share of Common Stock on such record date, less the amount of cash so to be distributed (or the fair market value (as determined
in good faith by, and reflected in a formal resolution of, the Board of Directors of the Company) of the portion of the assets or evidences
of indebtedness so to be distributed, or of such subscription rights or warrants, applicable to one share of Common Stock, and the denominator
of which shall be such current market price per share of Common Stock. Such adjustment shall be made successively whenever such a record
date is fixed; and in the event that such distribution is not so made, the Warrant Price shall again be adjusted to be the Warrant Price
which would then be in effect if such record date had not been fixed.


 


(c) For
the purpose of any computation under any subsection of this Section 4, the “current market price” per share of Common Stock
on any date shall be the per share price of the Common Stock on the trading day immediately prior to the event requiring an adjustment
hereunder and shall be: (i) if the principal trading market for such securities is a national or regional securities exchange, the closing
price on such exchange on such day; or (ii) if sales prices for shares of Common Stock are reported by the Nasdaq National Market System
or Small Cap Market System (or a similar system then in use), the last reported sales price so reported on such day; or (iii) if neither
(i) nor (ii) above are applicable, and if bid and ask prices for shares of Common Stock are reported in the over-the-counter market by
Nasdaq (or, if not so reported, by the National Quotation Bureau), the average of the high bid and low ask prices so reported on such
day. Notwithstanding the foregoing, if there is no reported closing price, last reported sales price, or bid and ask prices, as the case
may be, for the day in question, then the current market price shall be determined as of the latest date prior to such day for which
such closing price, last reported sales price, or bid and ask prices, as the case may be, are available, unless such securities have
not been traded on an exchange or in the over-the-counter market for 30 or more days immediately prior to the day in question, in which
case the current market price shall be determined in good faith by, and reflected in a formal resolution of, the Board of Directors of
the Company.


 




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(d) Notwithstanding
any provision herein to the contrary, no adjustment in the Warrant Price shall be required unless such adjustment would require an increase
or decrease of at least 1% in the Warrant Price; provided, however, that any adjustments which by reason of this subsection (d) are not
required to be made shall be carried forward and taken into account in any subsequent adjustment. All calculations under this Section
4 shall be made to the nearest cent or the nearest one-hundredth of a share, as the case may be.


 


(e) In
the event that at any time, as a result of an adjustment made pursuant to subsection (a) above, the Holder of any Warrant thereafter
exercised shall become entitled to receive any shares of capital stock of the Company other than shares of Common Stock, thereafter the
number of such other shares so receivable upon exercise of any Warrant shall be subject to adjustment from time to time in a manner and
on terms as nearly equivalent as practicable to the provisions with respect to the shares of Common Stock contained in this Section 4,
and the other provisions of this Warrant shall apply on like terms to any such other shares.


 


(f) If
the Company merges or consolidates into or with another corporation or entity, or if another corporation or entity merges into or with
the Company (excluding such a merger in which the Company is the surviving or continuing corporation and which does not result in any
reclassification, conversion, exchange, or cancellation of the outstanding shares of Common Stock), or if all or substantially all of
the assets or business of the Company are sold or transferred to another corporation, entity, or person, then, as a condition to such
consolidation, merger, or sale (a “Transaction”), lawful and adequate provision shall be made whereby the Holder shall have
the right from and after the Transaction to receive, upon exercise of this Warrant and upon the terms and conditions specified herein
and in lieu of the shares of the Common Stock that would have been issuable if this Warrant had been exercised immediately before the
Transaction, such shares of stock, securities, or assets as the Holder would have owned immediately after the Transaction if the Holder
had exercised this Warrant immediately before the effective date of the Transaction.


 


5. Reservation
of Shares. The Company agrees at all times to reserve and hold available out of its authorized but unissued shares of Common Stock
the number of shares of Common Stock issuable upon the full exercise of this Warrant. The Company further covenants and agrees that all
shares of Common Stock that may be delivered upon the exercise of this Warrant will, upon delivery, be fully paid and nonassessable and
free from all taxes, liens and charges with respect to the purchase thereof hereunder.


 


6. Notices
to Holder. Upon any adjustment of the Warrant Price (or number of shares of Common Stock purchasable upon the exercise of this Warrant)
pursuant to Section 4, the Company shall promptly thereafter cause to be given to the Holder written notice of such adjustment. Such
notice shall include the Warrant Price (and/or the number of shares of Common Stock purchasable upon the exercise of this Warrant) after
such adjustment, and shall set forth in reasonable detail the Company’s method of calculation and the facts upon which such calculations
were based. Where appropriate, such notice shall be given in advance and included as a part of any notice required to be given under
the other provisions of this Section 7.


 




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In
the event of (a) any fixing by the Company of a record date with respect to the holders of any class of securities of the Company for
the purpose of determining which of such holders are entitled to dividends or other distributions, or any rights to subscribe for, purchase
or otherwise acquire any shares of capital stock of any class or any other securities or property, or to receive any other right, (b)
any capital reorganization of the Company, or reclassification or recapitalization of the capital stock of the Company or any transfer
of all or substantially all of the assets or business of the Company to, or consolidation or merger of the Company with or into, any
other entity or person, or (c) any voluntary or involuntary dissolution or winding up of the Company, then and in each such event the
Company will give the Holder a written notice specifying, as the case may be (i) the record date for the purpose of such dividend, distribution,
or right, and stating the amount and character of such dividend, distribution, or right; or (ii) the date on which any such reorganization,
reclassification, recapitalization, transfer, consolidation, merger, conveyance, dissolution, liquidation, or winding up is to take place
and the time, if any is to be fixed, as of which the holders of record of Common Stock (or such capital stock or securities receivable
upon the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other stock securities) for securities
or other property deliverable upon such event. Any such notice shall be given at least 10 days prior to the earliest date therein specified.


 


7. No
Rights as a Stockholder. This Warrant does not entitle the Holder to any voting rights or other rights as a stockholder of the Company,
nor to any other rights whatsoever except the rights herein set forth.


 


8. Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the Company, the Holder and their respective successors
and permitted assigns.


 


9. Notices.
The Company agrees to maintain a ledger of the ownership of this Warrant (the “Ledger”). Any notice hereunder shall be given
by registered or certified mail if to the Company, at its principal executive office and, if to the Holder, to its address shown in the
Ledger of the Company; provided, however, that the Holder may at any time on three (3) days written notice to the Company designate or
substitute another address where notice is to be given. Notice shall be deemed given and received after a certified or registered letter,
properly addressed with postage prepaid, is deposited in the U.S. mail.


 


10. Severability.
Every provision of this Warrant is intended to be severable. If any term or provision hereof is illegal or invalid for any reason whatsoever,
such illegality or invalidity shall not affect the remainder of this Warrant.


 


11. Governing
Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Texas without giving effect to the
principles of choice of laws thereof.


 


12. Attorneys’
Fees. In any action or proceeding brought to enforce any provision of this Warrant, the prevailing party shall be entitled to recover
reasonable attorneys’ fees in addition to its costs and expenses and any other available remedy.


 


13. Entire
Agreement. This Warrant (including the Exhibits attached hereto) constitutes the entire understanding between the Company and the
Holder with respect to the subject matter hereof, and supersedes all prior negotiations, discussions, agreements and understandings relating
to such subject matter.


 




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


 


	 	QSAM
    BIOSCIENCES, INC.
	 	 	 
	 	By:	              
	 	Title:	 


 




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Exhibit
A


 


SUBSCRIPTION
FORM


 


(To
be Executed by the Holder to Exercise the Rights To Purchase Common Stock Evidenced by the Within Warrant)


 


The
undersigned hereby irrevocably subscribes for _______ shares (the “Stock”) of the Common Stock of ___________________________(the
“Company”) pursuant to and in accordance with the terms and conditions of the attached Warrant (the “Warrant”),
and hereby makes payment of $_______ therefor by tendering cash, wire transferring or delivering a certified check or bank cashier’s
check, payable to the order of the Company. The undersigned requests that a certificate for the Stock be issued in the name of the undersigned
and be delivered to the undersigned at the address stated below. If the Stock is not all of the shares purchasable pursuant to the Warrant,
the undersigned requests that a new Warrant of like tenor for the balance of the remaining shares purchasable thereunder be delivered
to the undersigned at the address stated below.


 


In
connection with the issuance of the Stock, I hereby represent to the Company that I am acquiring the Stock for my own account for investment
and not with a view to, or for resale in connection with, a distribution of the shares within the meaning of the Securities Act of 1933,
as amended (the “Securities Act”).


 


I
understand that because the Stock has not been registered under the Securities Act, I must hold such Stock indefinitely unless the Stock
is subsequently registered and qualified under the Securities Act or is exempt from such registration and qualification. I shall make
no transfer or disposition of the Stock unless (a) such transfer or disposition can be made without registration under the Securities
Act by reason of a specific exemption from such registration and such qualification, or (b) a registration statement has been filed pursuant
to the Securities Act and has been declared effective with respect to such disposition. I agree that each certificate representing the
Stock delivered to me shall bear substantially the same as set forth on the front page of the Warrant.


 


I
agree that each certificate representing the Stock delivered to me shall bear substantially the same legend as set forth on the front
page of the Warrant.


 


I
further agree that the Company may place stop orders on the certificates evidencing the Stock with the transfer agent, if any, to the
same effect as the above legend. The legend and stop transfer notice referred to above shall be removed only upon my furnishing to the
Company of an opinion of counsel (reasonably satisfactory to the Company) to the effect that such legend may be removed.


 


	 	Date:	 	 	Signed:	 
	 	 	 	 	 	 
	 	 	 	 	Address:	 
	 	 	 	 	 	 


  




    	Exhibit A



     


    

 


Exhibit
B


 


ASSIGNMENT


 


(To
be Executed by the Holder to Effect Transfer of the Attached Warrant)


 


For
Value Received __________________________ hereby sells, assigns and transfers to _________________________ the Warrant attached hereto
and the rights represented thereby to purchase _________ shares of Common Stock in accordance with the terms and conditions hereof, and
does hereby irrevocably constitute and appoint _________________________ as attorney to transfer such Warrant on the books of the Company
with full power of substitution.


 





	 	Dated:	 	 	Signed:	 






 


	Please
    print or typewrite

    name
    and address of

    assignee:
	 	Please
    insert Social Security

    or
    other Tax Identification

    Number
of Assignee:

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 


 





 




    	Exhibit B