Exhibit 10.13 - Strauss Warrant (7-09-2001)



NEITHER THIS WARRANT NOR ANY SHARES OF COMMON STOCK ISSUABLE
UPON THE EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR QUALIFIED
UNDER APPLICABLE STATE SECURITIES LAWS.  THIS WARRANT AND THE
COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE
OFFERED, SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN
THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AND
QUALIFICATION IN EFFECT WITH RESPECT THERETO UNDER THE SECURITIES
ACT AND UNDER ANY APPLICABLE STATE SECURITIES LAW OR AN OPINION OF
PERMA-FIX ENVIRONMENTAL SERVICES, INC.'S COUNSEL THAT SUCH
REGISTRATION AND QUALIFICATION IS NOT REQUIRED UNDER APPLICABLE
FEDERAL AND STATE SECURITIES LAWS OR AN EXEMPTION THEREFROM IS
AVAILABLE.


NOTWITHSTANDING THE FOREGOING, THE SHARES OF COMMON STOCK
ISSUABLE UPON EXERCISE OF THIS WARRANT ARE SUBJECT TO THE TERMS
SET FORTH IN THAT CERTAIN LETTER AGREEMENT BETWEEN THE HOLDER
HEREOF AND THE COMPANY, A COPY OF WHICH IS ON FILE AT THE
COMPANY'S PRINCIPAL EXECUTIVE OFFICE. 


 



COMMON STOCK PURCHASE WARRANT CERTIFICATE



HS7-01-9



Dated: July 9, 2001



625,000 Warrants



to Purchase 625,000



Shares of Perma-Fix Environmental Services, Inc.



Common Stock, $.001 Par Value Per Share



VOID AFTER 5:00 P.M., UNITED STATES EASTERN DAYLIGHT SAVINGS TIME



on



July 9, 2006



 



	           PERMA-FIX ENVIRONMENTAL SERVICES, INC., a Delaware corporation (the
"Company"), hereby certifies that Herbert Strauss, an Individual, and its permissible successors
and assigns (the "Warrant Holder" or "Holder"), for value received, is entitled to purchase from
the Company at any time after July 9, 2001, until 5:00 p.m., Eastern Daylight Savings Time on
July 9, 2006, up to an aggregate of six hundred twenty-five thousand (625,000) shares (the
"Shares" or "Warrant Shares") of the Company's


	 


	 


	common stock, par value $.001 per share (the
"Common Stock") at an exercise price equal to $1.75 per share (the "Per Share Exercise Price").


1.      Cash Exercise of Warrants.  Upon presentation and surrender of this Common Stock
Purchase Warrant Certificate ("Warrant Certificate" or "this Certificate"), with the attached Form
of Election to Purchase duly executed and completed, at the principal office of the Company at
1940 Northwest 67th Place, Gainesville, Florida 32606-1649, together with cash or a cashier's
or certified check payable to the Company in the amount of the Per Share Exercise Price
multiplied by the number of Warrant Shares being purchased (the "Aggregate Exercise Price"),
the Company, or the Company's transfer agent, as the case may be, shall deliver to the Warrant
Holder hereof, certificates of Common Stock which, in the aggregate, represent the number of
Warrant Shares being purchased.  The purchase rights represented by each Warrant Certificate
are exercisable at the option of the Holder thereof, in whole or in part (but not as to fractional
shares of the Common Stock underlying the Warrants).  Warrants may be exercised to purchase
all or part of the shares of Common Stock represented thereby.  In the case of the purchase of less
than all the shares of Common Stock purchasable under any Warrant Certificate, the Company
shall cancel said Warrant Certificate upon the surrender thereof and shall execute and deliver a
new Warrant Certificate of like tenor for the balance of the shares of Common Stock purchasable
thereunder.


2.      Definition of Market Price.    As used herein, the phrase "Market Price" at any date shall
be deemed to be the average closing bid quotation of the Company's Common Stock (i) as
reported on the National Association of Securities Dealers SmallCap Quotation market
("NASDAQ") for the last five (5) trading days, or (ii) if the Common Stock is not traded on
NASDAQ, the average closing price as listed on a national securities exchange for the last five
(5) trading days, or (iii) if no longer traded on NASDAQ or listed on a national securities
exchange, as determined in good faith by resolution of the Board of Directors of the Company,
based on the best information available to it.


3.      Exchange and Transfer.  This Certificate, at any time prior to the exercise hereof, upon
presentation and surrender to the Company, may be exchanged, alone or with other certificates
of like tenor registered in the name of the same Warrant Holder, for another Certificate or
Certificates of like tenor in the name of such Warrant Holder exercisable for the aggregate number
of Warrant Shares as the Certificate or Certificates surrendered.


4.      Rights and Obligations of Warrant Holder of this Certificate.  The Holder of this
Certificate shall not, by virtue hereof, be entitled to any rights of a shareholder in the Company,
either at law or in equity; provided, however, that in the event any certificate representing shares
of Common Stock or other securities is issued to the Holder hereof upon exercise of some or all
of the Warrants evidenced by this Warrant Certificate, such Holder shall, for all purposes, be
deemed to have become the Holder of record of such Common Stock on the date on which this
Certificate, together with a duly executed Form of Election to Purchase, was surrendered and
payment of the Aggregate Exercise Price was made pursuant to the terms


 


 


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 hereof, irrespective of
the date of delivery of such share certificate.  The rights of the Holder of this Certificate are
limited to those expressed herein and the Holder of this Certificate, by his acceptance hereof,
consents and agrees to be bound by, and to comply with, all of the provisions of this Certificate,
including, without limitation, all of the obligations imposed upon the Warrant Holder contained
in this Warrant Certificate.  In addition, the Warrant Holder, by accepting this Certificate, agrees
that the Company may deem and treat the person in whose name this Certificate is registered on
the books of the Company as the absolute, true and lawful owner of this Certificate for all
purposes whatsoever, and the Company shall not be affected by any notice to the contrary.


5.      Common Stock.  


        5.1     The Company covenants and agrees that all shares of Common Stock which may
be 

                  acquired by the Holder under this Warrant Certificate will, when issued and
upon 

                  delivery, be duly and validly authorized and issued, fully paid and
nonassessable, and 

                  free from all stamp taxes, liens, and charges with respect to the
purchase thereof.


        5.2     The Company covenants and agrees that it will, at all times, reserve and keep
available 

                  an
authorized number of shares of its Common Stock and other applicable
securities 

                  sufficient to permit the exercise in full of all outstanding options,
warrants and rights, 

                  including the
Warrants; and, if at the time the number of
authorized but unissued 

                  shares of Common Stock
shall not be sufficient to effect
the exercise of all of the 

                  Warrants covered by this Warrant
Certificate, the
Company will take such corporate 

                  action at its next annual meeting of
stockholders
as may be necessary to increase 

                  its authorized but unissued shares of Common
Stock to such number of shares 

                  as shall be sufficient for such purpose, including,
without limitation, engaging in 

                  reasonable efforts to obtain the requisite
stockholder approval of any necessary 

                  amendment to its Certificate of
Incorporation.


6.      Issuance of Certificates.  As soon as possible after full or partial exercise of this Warrant
Certificate, the Company, at its expense, will cause to be issued in the name of, and delivered to,
the Holder of this Warrant Certificate, a certificate or certificates for the number of fully paid and
nonassessable shares of Common Stock to which that Holder shall be entitled on such exercise.
No fractional shares will be issued on exercise of this Warrant.  If on any exercise of this Warrant
a fraction of a share results, the Company will pay the cash value of that fractional share,
calculated on the basis of the Per Share Exercise Price.  All such certificates shall bear a
restrictive legend to the effect that, subject to the provisions of Section 7 below, the Shares
represented by such certificate have not been registered under the Securities Act of 1933, as
amended, or qualified under any state securities laws and the Shares may not be sold or
transferred in the absence of such registration and qualification or an exemption thereof, such
legend to be substantially in the form set forth in Section 7.2 of this Warrant Certificate.


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7.     Disposition of Warrants or Shares.


       7.1      The Holder of this Warrant Certificate, by its acceptance thereof, agrees that (a)
no public

                  distribution of Warrants or Shares will be made in violation of the
provisions of the 

                  Securities Act of 1933, as amended, and the Rules and
Regulations promulgated 

                  thereunder (collectively, the "Act"), and (b) during such
period as delivery of a 

                  prospectus with respect to Warrants or Shares may be
required by the Act, no public

                
distribution of Warrants or Shares will be made in
a manner or on terms different from 

                 those set forth in, or without delivery of, a
prospectus then meeting the requirements 

                 of Section 10 of the Act and in
compliance with all applicable state securities laws. 

                 The holder of this Warrant
Certificate and
each transferee hereof further agrees that 

                 if any distribution of any
of the Warrants or Shares is proposed to be made by them 

                 otherwise than by
delivery of a prospectus meeting the requirements of Section 10 

                 of the Act, such
action shall be taken only after receipt by the Company of an 

                 opinion of its
counsel, to the effect that the proposed distribution will not be in 

                 violation of the
Act or of applicable state law.  Furthermore, it shall be a condition 

                 to the transfer
of the Warrants that any transferee thereof deliver to the Company 

                 his or its written agreement to accept and be bound by all of the terms and 

                conditions
contained in this Warrant Certificate.


       7.2     By acceptance hereof, the Holder represents and warrants that this Warrant
Certificate is

                 being
acquired, and all Warrant Shares to be purchased upon the
exercise of this Warrant

                 Certificate will be acquired, by the Holder solely for the
account of the Holder and not 

                 with a view to the fractionalization and distribution
thereof, and will not be sold or 

                 transferred except in accordance with the applicable
provisions of the Act and the rules and
                 regulations promulgated thereunder, and
the Holder agrees that neither this Warrant 

                 Certificate nor any of the Warrant
Shares may be sold or transferred except under cover 

                 of a registration statement
under the Act which is effective and current with respect to 

                 such Warrant Shares
or pursuant to an opinion of counsel reasonably satisfactory to 

                 the Company that
registration under the Act is not required in connection with such 

                 sale or transfer.
Any Warrant Shares issued upon exercise of this Warrant shall bear a 

                 legend to the
following effect:


                        The securities represented by this certificate have not been
registered under the 

                        Securities Act of 1933, as amended (the
"Act"), or qualified under applicable 

                        state securities laws, and are
restricted securities within the meaning of the Act. 

                        Such securities
may not be sold or transferred, except pursuant to a registration 

                        statement under such Act and qualification under applicable state
securities laws 

                        which are effective and current with respect to such
securities or pursuant to an 


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                        opinion of counsel reasonably
satisfactory to the issuer of such securities that 

                        registration and
qualification are not required under applicable federal or state 

                        securities laws or an exemption is available
therefrom.


8.     Warrant Holder Not Shareholder.  This Warrant Certificate shall not be deemed to
confer upon the Holder any right to vote the Warrant Shares or to consent to or receive notice as
a shareholder of the Company as such, because of this Warrant Certificate, in respect of any
matters whatsoever, or any other rights or liabilities as a shareholder.


9.      Authorization and Approval.  The issuance of the Warrant Shares are subject to
appropriate corporate, NASDAQ and regulatory authority approval.


10.    Anti-Dilution.  


         10.1     If the Company at any time, or from time to time, while this Warrant Certificate
is 

                     outstanding shall declare or pay, without consideration, any dividend on the
Common 

                     Stock payable in Common Stock, or shall effect a subdivision of the
outstanding 

                     shares of Common Stock into a greater number of shares of Common
Stock (by 

                     stock split, reclassification or otherwise than by payment of a dividend
in Common 

                     Stock or in any right to acquire Common Stock), or if the outstanding
shares of 

                     Common Stock shall be combined or consolidated, by reclassification or
otherwise, 

                     into a lesser number of shares of Common Stock, then the number of
shares of 

                     Common Stock issuable upon the exercise of this Warrant Certificate or
the 

                     Exercise Price shall be appropriately adjusted such that immediately after the 

                     happening of any such event, the proportionate number of shares of Common 

                     Stock
issuable immediately prior to the happening of such event shall be the 

                     number of
shares of Common Stock issuable subsequent to the happening of 

                     such event.


         10.2     In case of any consolidation or merger of the Company in which the Company is 

                     not the surviving entity, or in case of any sale or conveyance by the Company to 

                     another entity of all or substantially all of the property of the Company as an 

                     entirety or substantially as an entirety, the Holder shall have the right thereafter, 

                     upon exercise of this Warrant, to receive the kind and amount of securities, cash 

                     or other property which the Holder would have owned or been entitled to receive 

                     immediately after such consolidation, merger, sale or conveyance had this Warrant 

                     been exercised in full immediately prior to the effective date of such consolidation, 

                     merger, sale or conveyance, and in any such case, if necessary, appropriate 

                     adjustment shall be made in the application thereafter of the provisions of this 

                     Section 10 with respect to the rights and interests of the Holder to the end that the 

                     provisions of this Section 10 thereafter shall be correspondingly applicable, as 

                     nearly as may be, to such securities and other property.


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11.     Notices.  Except as otherwise specified herein to the contrary, all notices, requests,
demands and other communications required or desired to be given hereunder shall only be
effective if given in writing, by hand, by certified or registered mail, return receipt requested,
postage prepaid, or by U. S. Express Mail service, or by private overnight mail service (e.g.,
Federal Express).  Any such notice shall be deemed to have been given (a) on the business day
actually received if given by hand or by fax, (b) on the business day immediately subsequent to
mailing, if sent by U.S. Express Mail service or private overnight mail service, or (c) five (5)
business days following the mailing thereof, if mailed by certified or registered mail, postage
prepaid, return receipt requested, and all such notices shall be sent to the following addresses (or
to such other address or addresses as a party may have advised the other in the manner provided
in this Section 11):


                          If to the Company:                Perma-Fix Environmental Services, Inc.

                                                                      1940 Northwest 67th Place

                                                                      Gainesville, Florida  32653

                                                                      Attention: Dr. Louis F. Centofanti

                                                                                     Chief Executive Officer

                                                                      Fax No.: (352) 373-0040


                          with copies simultaneously    Conner & Winters

                          by like means to:                  One Leadership Square, Suite 1700

                                                                      211 North Robinson

                                                                      Oklahoma City, Oklahoma  73102

                                                                      Attention: Irwin H. Steinhorn, Esquire

                                                                      Fax No.: (405) 232-2695


                            If to the Subscriber:            Herbert Strauss

                                                                      c/o Capital Bank Grawe Gruppe

                                                                      Burgring 16, 8010 Graz, Austria

                                                                      Fax No.: 011-43-316-8072, ext. 392


12.      Governing Law.  This Warrant Certificate and all rights and obligations hereunder shall
be deemed to be made under and governed by the laws of the State of Delaware without giving
effect to such State's conflict of laws provisions.  The Holder hereby irrevocably consents to the
venue and jurisdiction of the federal courts located in Wilmington, Delaware.


13.      Successors and Assigns.  This Warrant Certificate shall be binding upon and shall inure
to the benefit of the parties hereto and their respective successors and assigns.


14.     Headings.  The headings of various sections of this Warrant Certificate have been inserted
for reference only and shall not be a part of this Agreement.


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	          IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be duly
executed, manually or by facsimile, by one of its officers thereunto duly authorized.


	           Dated as of July 9, 2001.


							                                                                                     PERMA-FIX ENVIRONMENTAL

                                                                                     SERVICES, INC.





                                                                                      By   /s/
Louis Centofanti                     

                                                                                            Dr. Louis F. Centofanti

                                                                                           Chief Executive Officer
 

 

 

 

 

 

 

 

 

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FORM OF ELECTION TO PURCHASE OR ASSIGN


Election to Purchase


           The undersigned hereby irrevocably elects to exercise the right, represented by the foregoing
Warrant Certificate, to receive _____________ shares of the Common Stock.  In payment of such
shares, the undersigned herewith:


_____  tenders payment for such shares to the order of Perma-Fix Environmental Services, Inc. in 

            the amount of $________________ in accordance with the terms of the Warrant Agreement.


Dated: _______________
                                              Signature __________________________


						                                                                                        Address ___________________________



Assignment

          FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
_______________________ the foregoing Warrants and all rights evidenced thereby, and does 

irrevocably constitute and appoint _________________, attorney, to transfer said Warrants on the 

books of Perma-Fix Environmental Services, Inc.


Dated: _______________                                                  Signature __________________________


                                                                                          Address ____________________________



Partial Assignment

          FOR VALUE RECEIVED, the undersigned hereby assigns and transfers
_________________ Warrants and all rights evidenced under such part of the foregoing Warrants
unto _____________________________________ and does irrevocably constitute and appoint
__________________, attorney, to transfer said Warrants on the books of Perma-Fix Environmental
Services, Inc.


Dated: _______________                                                    Signature __________________________


						                                                                                             Address ____________________________