Form of Warrant



 Exhibit 10.1 
  
 FORM OF WARRANT 
  
 NEITHER THE WARRANTS REPRESENTED BY THIS WARRANT CERTIFICATE NOR THE SHARES OF COMMON STOCK OR ANY OTHER SECURITIES ISSUABLE UPON EXERCISE OF SUCH WARRANTS HAVE BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. SUCH WARRANTS HAVE BEEN ACQUIRED, AND ANY SHARES OF COMMON STOCK OR ANY OTHER SECURITIES ISSUABLE UPON EXERCISE OF SUCH WARRANTS ARE REQUIRED TO BE ACQUIRED, FOR INVESTMENT PURPOSES AND NOT
WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH WARRANTS AND/OR SUCH SHARES OR OTHER SECURITIES UNDER THE SECURITIES ACT OF
1933, AS AMENDED, AND APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF SUCH WARRANTS AND SUCH SHARES OR OTHER SECURITIES TO THE EFFECT THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT AND SUCH STATE SECURITIES
LAWS. 
  
 VOID AFTER 5:00 P.M. ON JUNE 30, 2007

  
 INTERNATIONAL ASSETS HOLDING CORPORATION 

 
 PURCHASE WARRANT 
 FOR 
 COMMON STOCK, $.01 PAR VALUE 
  
 DATED AS OF MARCH 12, 2004 
  

  
 Warrant No: 1 
  
 Holder:
CATALYST FINANCIAL LLC 
  
 Number of Warrants: 200,000 
  
 THIS IS TO CERTIFY THAT, for value received, Catalyst Financial LLC (the
“Warrant holder”) is the registered owner of the number of Common Stock Purchase Warrants (each, a “Warrant”) set forth above, each Warrant entitling the owner thereof to purchase from International Assets Holding Corporation, a
Delaware corporation (the “Company”), one duly authorized, validly issued, fully paid and non-assessable share (each, a “Warrant Share”) of the common stock, par value $.01 per share (“Common Stock”), of the Company, at
a purchase price of $6.00 per share (the “Purchase Price”), at any time on or after the period commencing on the date hereof and terminating at 5:00 p.m., New York City time, on June 30, 2007 (the Expiration Time”), all subject to the
terms and conditions contained herein. The number of Warrants evidenced by this Warrant Certificate (and the number and kind of securities which may be purchased upon exercise hereof) set forth above, and the Purchase Price per share set forth
above, are as of the date hereof. As provided herein, the Purchase Price and the number of shares of Common Stock or other securities which may be purchased upon the exercise of the Warrants evidenced by this Warrant Certificate are, upon the
happening of certain events, subject to modification and adjustment. 
  
 This Warrant Certificate, together with any warrant certificate(s) issued in replacement or substitution hereof (as provided for herein) evidencing all or part of the Warrants evidenced hereby, are sometimes collectively referred to herein
as the “Warrant Certificates.” 
  









 The rights of the registered holder of this Warrant Certificate shall be subject to the following further
terms and conditions: 
  

	1.	Exercise of Warrants. 

  
 (a) The Warrants may be exercised, in whole or in part, on or prior to the Expiration Time by surrendering this Warrant Certificate, with the purchase
form provided for herein duly executed by the Warrantholder or by the Warrantholder’s duly authorized attorney-in-fact, at the principal office of the Company, presently located at 220 East Central Parkway, Suite 2060, Altamonte Springs,
Florida 32701 or at such other office or agency in the United States as the Company may designate by notice in writing to the Warrantholder (in either event, the “Company Offices”), accompanied by payment in full, either in the form of
cash, bank cashier’s check or certified check payable to the order of the Company of the Exercise Price payable in respect of the Warrants being exercised. Alternatively, payment of the Exercise Price may be made (A) through the sale of the
Shares acquired on exercise of the Warrant through a broker-dealer to whom the Warrantholder has submitted an irrevocable notice of exercise and irrevocable instructions to deliver promptly to the Company the amount of sale or loan proceeds
sufficient to pay the exercise price, together with, if requested by the Company, the amount of federal, state, local or foreign withholding taxes payable by the Warrantholder by reason of such exercise, or (B) through simultaneous sale through a
broker of Shares acquired upon exercise. 
  
 (b) If fewer than all
of the Warrants are exercised, the Company shall, upon each exercise prior to the Expiration Time, execute and deliver to the Warrantholder a new Warrant Certificate (dated as of the date hereof) evidencing the balance of the Warrants that remain
exercisable. 
  
 (c) On the date of exercise of the Warrants, the
Warrantholder exercising same shall be deemed to have become the holder of record for all purposes of the Warrant Shares to which the exercise relates. 
  
 (d) As soon as practicable, but not in excess of ten days, after the exercise of all or part of the Warrants evidenced by this Warrant Certificate, the
Company, at its expense (including the payment by it of any applicable issue taxes), will cause to be issued in the name of and delivered to the Warrantholder a certificate or certificates evidencing the number of duly authorized, validly issued,
fully paid and nonassessable Warrant Shares to which the Warrantholder shall be entitled upon such exercise. 
  
 (e) No certificates for fractional Warrant Shares shall be issued upon the exercise of any of the Warrants but, in lieu thereof, the Company shall, upon
exercise of all the Warrants, round up any fractional Warrant Share to the nearest whole share of Common Stock. 
  
 (f) The Company may, at its option, require the Warrantholder to exercise all or any of the Warrants in the event that all of the following conditions are
fulfilled: (i) the Closing Price of the Common Stock has exceeded $9.00 per share for a period of twenty (20) consecutive trading days, (ii) the Company has filed a registration statement under the Securities Act of 1933, as amended, to register the
resale of the shares of Common Stock issuable upon the exercise of the Warrants, and (iii) such registration statement has been declared effective by the Securities and Exchange Commission. The Company must exercise this option, if at all, during
the fifteen (15) day period commencing on the first date on which all of the conditions have been fulfilled, or during any subsequent fifteen (15) day period commencing on any subsequent date on which all of the conditions have been fulfilled. The
Company may exercise this option by providing written notice of exercise to the Warrantholder. The Warrantholder will be obligated to complete the exercise of Warrants and to pay the Purchase Price within ninety (90) days after the date of such
notice. 
  

	2.	Issuance of Common Stock; Reservation of Shares. 

  
 The Company covenants and agrees that all Warrant Shares which may be issued upon the exercise of all or part of the Warrants will, upon issuance in
accordance with the terms hereof, be validly issued, fully paid and nonassessable and free from all taxes, liens and charges with respect to the issue thereof. 
  

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	3.	Adjustments of Exercise Price, Number and Character of Warrant Shares, and Number of Warrants. 

  
 The Exercise Price the number and kind of securities purchasable upon the
exercise of each Warrant shall be subject to adjustment from time to time upon the happening of the events enumerated in this Section 3. 
  
 (a) Stock Dividends, Subdivisions and Combinations. In case the Company shall at any time on or before the Expiration Time: 
  
 (i) pay a dividend in shares of Common Stock or make a
distribution in shares of Common Stock or such other stock to holders of all its outstanding shares of Common Stock; 
  
 (ii) subdivide or reclassify the outstanding shares of Common Stock into a greater number of shares; 
  
 (iii) combine the outstanding shares of Common Stock into a
smaller number of shares of Common Stock; or 
  
 (iv) issue by reclassification of its shares of Common Stock other securities of the Company (including any such reclassification in connection with a consolidation or merger in which the Company is the continuing corporation); 

 
 then the number and kind of Warrant Shares purchasable upon exercise of each Warrant
outstanding immediately prior thereto shall be adjusted so that the Warrantholder shall be entitled to receive the kind and number of shares of Common Stock or other securities of the Company which the Warrantholder would have owned or have been
entitled to receive after the happening of any of the events described above had such Warrant been exercised in full immediately prior to the earlier of the happening of such event or any record date in respect thereto. In the event of any
adjustment of the number of Warrant Shares purchasable upon the exercise of each then outstanding Warrant pursuant to this Paragraph 3(a), the Exercise Price shall be adjusted to be the amount resulting from dividing the number of shares of Common
Stock (including fractional shares of Common Stock) covered by such Warrant immediately after such adjustment into the total amount payable upon exercise of such Warrant in full immediately prior to such adjustment. An adjustment made pursuant to
this Paragraph 3(a) shall become effective immediately after the effective date of such event retroactive to the record date for any such event. Such adjustment shall be made successively whenever any event listed above shall occur. 
  
 (b) Extraordinary Dividends. In case the Company shall at any time on
or before the Expiration Time fix a record date for the issuance of rights, options, or warrants to all holders of its outstanding shares of Common Stock, entitling them (for a period expiring within 45 days after such record date) to subscribe for
or purchase shares of Common Stock (or securities exchangeable for or convertible into shares of Common Stock) at a price per share of Common Stock (or having an exchange or conversion price per share of Common Stock, with respect to a security
exchangeable for or convertible into shares of Common Stock) which is lower than the current Market Price per share of Common Stock (as defined in Paragraph 3(d) below) on such record date, then the Exercise Price shall be adjusted by multiplying
the Exercise Price in effect immediately prior to such record date by a fraction, of which (i) the numerator shall be the number of shares of Common Stock outstanding on such record date plus the number of shares of Common Stock which the
aggregate offering price of the total number of shares of Common Stock so to be offered (or the aggregate initial exchange or conversion price of the exchangeable or convertible securities so to be offered) would purchase at such current Market
Price and (ii) the denominator shall be the number of shares of Common Stock outstanding on such record date plus the number of additional shares of Common Stock to be offered for subscription or purchase (or into which the exchangeable or
convertible securities so to be offered are initially exchangeable or convertible). Such adjustment shall become effective at the close of business on such record date; however, to the extent that shares of Common Stock (or securities exchangeable
for or convertible into shares of Common Stock) are not delivered after the expiration of such rights, options, or warrants, the Exercise Price shall be readjusted (but only with respect to Warrants exercised after such expiration) to the Exercise
Price which would then be in effect had the adjustments made upon the issuance of such rights, options, or warrants been made 

  

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upon the basis of delivery of only the number of shares of Common Stock (or securities exchangeable for or convertible into shares of Common Stock) actually
issued. In case any subscription price may be paid in a consideration part or all of which shall be in a form other than cash, the value of such consideration shall be as determined in good faith by the Board of Directors of the Company and shall be
described in a statement mailed to the Warrantholder. Shares of Common Stock owned by or held for the account of the Company shall not be deemed outstanding for the purpose of any such computation. 
  
 (c) Extraordinary Distributions. In case the Company shall at any time
after the original date of issuance of the Warrants (the “Date of Issuance”) distribute to all holders of its shares of Common Stock (including any such distribution made in connection with a consolidation or merger in which the Company is
the surviving corporation) evidences of its indebtedness or assets (excluding cash dividends and distributions payable out of consolidated net income or earned surplus in accordance with Delaware law and dividends or distributions payable in shares
of stock described in Paragraph 3(a) above) or rights, options, or warrants or exchangeable or convertible securities containing the right to subscribe for or purchase shares of Common Stock (or securities exchangeable for or convertible into shares
of Common Stock), then the Exercise Price shall be adjusted by multiplying the Exercise Price in effect immediately prior to the record date for such distribution by a fraction, of which (i) the numerator shall be the current Market Price per share
of Common Stock (as defined in Paragraph 3(d)) on such record date, less the fair market value (as determined by the Board of Directors of the Company, whose determination shall be conclusive, and described in a notice to the Warrantholders)
of the portion of the evidences of indebtedness or assets so to be distributed or of such rights, options or warrants applicable to one share of Common Stock and (ii) the denominator shall be such current Market Price per share of Common Stock. Such
adjustment shall be made whenever any such distribution is made, and shall become effective on the date of distribution retroactive to the record date for such transaction. 
  
 (d) Current Market Price Defined. For the purpose of any computation under Paragraphs 3(b) and/or 3(c), the current
Market Price per share of Common Stock at any date shall be deemed to be the average daily Closing Price of the shares of Common Stock for twenty consecutive trading days ending within fifteen days before the date in question. The term “Closing
Price” of the shares of Common Stock for a day or days shall mean (i) if the shares of Common Stock are listed or admitted for trading on a national securities exchange, the last reported sales price regular way, or, in case no such reported
sale takes place on such day or days, the average of the reported closing bid and asked prices regular way, in either case on the principal national securities exchange on which the shares of the Common Stock are listed or admitted for trading, or
(ii) if the shares of Common Stock are not listed or admitted for trading on a national securities exchange, (A) the last transaction price for the Common Stock on The Nasdaq Stock Market (“Nasdaq”) or, in the case no such reported
transaction takes place on such day or days, the average of the reported closing bid and asked prices thereof quoted on Nasdaq, or (B) if the shares of Common Stock are not quoted on Nasdaq, the average of the closing bid and asked prices of the
Common Stock as quoted on the Over-The-Counter Bulletin Board maintained by the National Association of Securities Dealers, Inc. (the “Bulletin Board”), or (C) if the shares of Common Stock are not quoted on Nasdaq nor on the Bulletin
Board, the average of the closing bid and asked prices of the common stock in the over-the-counter market, as reported by The Pink Sheets, LLC, or an equivalent generally accepted reporting service, or (iii) if on any such trading day or days the
shares of Common Stock are not quoted by any such organization, the fair market value of the shares of Common Stock on such day or days, as determined in good faith by the Board of Directors of the Company, shall be used. 
  
 (e) Minimum Adjustment. Except as hereinafter provided, no adjustment
of the Exercise Price hereunder shall be made if such adjustment results in a change of the Exercise Price then in effect of less than five cents ($.05) per share. Any adjustment of less than five cents ($.05) per share of any Exercise Price shall
be carried forward and shall be made at the time of and together with any subsequent adjustment which, together with adjustment or adjustments so carried forward, amounts to five cents ($.05) per share or more. However, upon exercise of this Warrant
Certificate, the Company shall make all necessary adjustments (to the nearest cent) not theretofore made to the Exercise Price up to and including the effective date upon which this Warrant Certificate is exercised. 
  
 (f) Notice of Adjustments. Whenever the Exercise Price shall be
adjusted pursuant to this Section 3, the Company shall promptly deliver a certificate signed by the President or a Vice President and by the Chief Financial Officer, Treasurer or an Assistant Treasurer or the Secretary or an Assistant Secretary of
the 

  

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Company, setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was
calculated (including a description of the basis on which the Board of Directors of the Company made any determination hereunder), by first class mail postage prepaid to each Warrantholder. 
  
 (g) Capital Reorganizations and Other Reclassifications. In case of
any capital reorganization of the Company, or of any reclassification of the shares of Common Stock (other than a reclassification, subdivision or combination of shares of Common Stock referred to in Paragraph 3(a)), or in case of the consolidation
of the Company with, or the merger of the Company with, or merger of the Company into, any other corporation (other than a reclassification of the shares of Common Stock referred to in Paragraph 3(a) or a consolidation or merger which does not
result in any reclassification or change of the outstanding shares of Common Stock) or of the sale of the properties and assets of the Company as, or substantially as, an entirety to any other corporation or entity, each Warrant shall, after such
capital reorganization, reclassification of shares of Common Stock, consolidation, merger, or sale, be exercisable, upon the terms and conditions specified in this Warrant Certificate, for the kind, amount and number of shares or other securities,
assets, or cash to which a holder of the number of shares of Common Stock purchasable (at the time of such capital reorganization, reclassification of shares of Common Stock, consolidation, merger or sale) upon exercise of such Warrant would have
been entitled to receive upon such capital reorganization, reclassification of shares of Common Stock, consolidation, merger, or sale; and in any such case, if necessary, the provisions set forth in this Section 3 with respect to the rights and
interests thereafter of the Warrantholder shall be appropriately adjusted so as to be applicable, as nearly equivalent as possible, to any shares or other securities, assets, or cash thereafter deliverable on the exercise of the Warrants. The
Company shall not effect any such consolidation, merger, or sale, unless prior to or simultaneously with the consummation thereof the successor corporation or entity (if other than the Company) resulting from such consolidation or merger or the
corporation or entity purchasing such assets or other appropriate corporation or entity shall assume, by written instrument, the obligation to deliver to the Warrantholder such shares, securities, assets, or cash as, in accordance with the foregoing
provisions, such holders may be entitled to purchase and the other obligations hereunder. The subdivision or combination of shares of Common Stock at any time outstanding into a greater or lesser number of shares shall not be deemed to be a
reclassification of the shares of Common Stock for purposes of this Paragraph 3(g). 
  
 (h) Adjustments to Other Securities. In the event that at any time, as a result of an adjustment made pursuant to this Section 3, the Warrantholder shall become entitled to purchase any shares or securities of
the Company other than the shares of Common Stock, thereafter the number of such other shares or securities so purchasable upon exercise of each Warrant and the exercise price for such shares or securities shall be subject to adjustment from time to
time in a manner and on terms as nearly equivalent as possible to the provisions with respect to the shares of Common Stock contained in Paragraphs 3(a) through (e), inclusive. 
  
 (i) Deferral of Issuance of Additional Shares in Certain Circumstances. In any case in which this Section 3 shall
require that an adjustment in the Exercise Price be made effective as of a record date for a specified event, the Company may elect to defer until the occurrence of such event issuing to the Warrantholder exercised after such record date the shares
of Common Stock, if any, issuable upon such exercise over and above the Warrant Shares, if any, issuable upon such exercise on the basis of the Exercise Price in effect prior to such adjustment; provided, however, that the Company
shall deliver as soon as practicable to such holder a due bill or other appropriate instrument provided by the Company evidencing such holder’s right to receive such additional shares of Common Stock upon the occurrence of the event requiring
such adjustment. 
  

	4.	Definition of Common Stock. 

  
 The Common Stock issuable upon exercise of the Warrants shall be the Common Stock as constituted on the date hereof except as otherwise provided in
Section 3. 
  

	5.	Replacement of Securities. 

  
 If this Warrant Certificate shall be lost, stolen, mutilated or destroyed, the Company shall, on such terms as to indemnity or otherwise as the Company
may in its discretion reasonably impose, issue a new certificate of like tenor or date representing in the aggregate the right to subscribe for and purchase the number of shares of 

  

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Common Stock which may be subscribed for and purchased hereunder. Any such new certificate shall constitute an original contractual obligation of the
Company, whether or not the allegedly lost, stolen, mutilated or destroyed Warrant Certificate shall be at any time enforceable by anyone. 
  

	6.	Registration. 

  
 This Warrant Certificate, as well as all other warrant certificates representing Warrants shall be numbered and shall be registered in a register (the
“Warrant Register”) maintained at the Company Offices as they are issued. The Warrant Register shall list the name, address and Social Security or other Federal Identification Number, if any, of all Warrantholders. The Company shall be
entitled to treat the Warrantholder as set forth in the Warrant Register as the owner in fact of the Warrants as set forth therein for all purposes and shall not be bound to recognize any equitable or other claim to or interest in such Warrants on
the part of any other person, and shall not be liable for any registration of transfer of Warrants that are registered or to be registered in the name of a fiduciary or the nominee of a fiduciary unless made with the actual knowledge that a
fiduciary or nominee is committing a breach of trust in requesting such registration of transfer, or with such knowledge of such facts that its participation therein amounts to bad faith. 
  

	7.	Transfer. 

  
 (a) Except as provided in Section 7(b), the Warrantholder may not sell, assign or otherwise transfer any of the Warrants or the rights of the
Warrantholder under this Warrant Certificate without the prior written consent of the Company. 
  
 (b) Notwithstanding the provisions of Section 7(a), the Warrantholder may transfer all or any of the Warrants to any officer or member of the Catalyst Financial LLC without the prior consent of the Company.

  
 (c) NEITHER THE WARRANTS REPRESENTED BY THIS WARRANT
CERTIFICATE NOR THE SHARES OF COMMON STOCK OR ANY OTHER SECURITIES ISSUABLE UPON EXERCISE OF SUCH WARRANTS HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. SUCH WARRANTS HAVE BEEN ACQUIRED, AND ANY SHARES OF COMMON STOCK OR ANY
OTHER SECURITIES ISSUABLE UPON EXERCISE OF SUCH WARRANTS ARE REQUIRED TO BE ACQUIRED, FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED WITHOUT AN
EFFECTIVE REGISTRATION STATEMENT FOR SUCH WARRANTS AND/OR SUCH SHARES OR OTHER SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF SUCH WARRANTS AND
SUCH SHARES OR OTHER SECURITIES TO THE EFFECT THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT AND SUCH STATE SECURITIES LAWS. 
  

	8.	Exchange of Warrant Certificates. 

  
 This Warrant Certificate may be exchanged for another certificate or certificates entitling the Warrantholder thereof to purchase a like aggregate number
of Warrant Shares as this Warrant Certificate entitles such Warrantholder to purchase. A Warrantholder desiring to so exchange this Warrant Certificate shall make such request in writing delivered to the Company, and shall surrender this Warrant
Certificate therewith. Thereupon, the Company shall execute and deliver to the person entitled thereto a new certificate or certificates, as the case may be, as so requested. 
  

	9.	Notices. 

  
 All notices and other communications hereunder shall be in writing and shall be deemed given when delivered in person, against written receipt therefor,
or two days after being sent, by registered or certified mail, postage prepaid, return receipt requested, and, if to the Warrantholder, at such address as is shown on the Warrant Register or as may otherwise may have been furnished to the Company in
writing in accordance with this Section 9 

  

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by the Warrantholder and, if to the Company, at the Company Offices or such other address as the Company shall give notice thereof to the Warrantholder in
accordance with this Section 9. 
  

	10.	Registration Rights. 

  
 The Warrant holder will be entitled to the benefits of the Registration Rights Agreement, dated of even date herewith, between the Company and Catalyst
Financial LLC, to the extent provided in such agreement. 
  

	11.	Miscellaneous. 

  
 This Warrant Certificate and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against
which enforcement of such change, waiver, discharge or termination is sought. This Warrant Certificate is deemed to have been delivered in the State of New York and shall be construed and enforced in accordance with and governed by the laws of such
State. The headings in this Warrant Certificate are for purposes of reference only, and shall not limit or otherwise affect any of the terms hereof. 
  
 Dated: As of March 12, 2004 
  
 INTERNATIONAL ASSETS HOLDING CORPORATION 
  

			
		
	By:	 	/S/    SEAN M. O’CONNOR        
	 	 	

	 Name:
	 	Sean M. O’Connor
	 Title:
	 	Chief Executive Officer
	 Date: March 12, 2004



  

							
	 ATTEST:
	 	 	 	 
				
	 	 	 	 	 	 	 
	 	 	

	 Name:
	 	 	 	 Date
	 	 
	 Title:
	 	 	 	 	 	 

  

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 EXERCISE FORM 
  
 Dated:                    ,
         
  
 TO: INTERNATIONAL
ASSETS HOLDING CORPORATION: 
  
 The undersigned hereby irrevocably
elects to exercise the within Warrants, to the extent of purchasing                      shares of Common Stock, and hereby makes payment of
                     in payment of the Exercise Price thereof. 
  
 INSTRUCTIONS FOR REGISTRATION OF STOCK 
  

			
	 Name:
	  	 
	 	 	

	 	  	 (Please type or print in block letters)

	 Taxpayer
 Identification
 Number:
	  	 
	 	 	

	 Address:
	  	 
	 	 	

	 	  	 
	 	 	

	 	  	 
	 	 	

		
	 Signature:
	  	 
	 	 	

	 	  	 (Signature must conform in all respects to the name of the Warrantholder
 as set forth on the face of this Warrant Certificate.)


  

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 ASSIGNMENT FORM 
  
 Dated:                    ,
         
  
 TO: INTERNATIONAL
ASSETS HOLDING CORPORATION: 
  

			
	 	  	FOR VALUE RECEIVED,
                                        
                                        
                                        
                        
	 	  	(Please type or print in block letters)
	
	hereby sells, assigns and transfers unto:
	 	  	 
	 Name:
	  	 
	 	 	

	 	  	(Please type or print in block letters)
	 Taxpayer
 Identification
 Number:
	  	 
	 	 	

	 Address:
	  	 
	 	 	

	 	  	 
	 	 	

	 	  	 
	 	 	


  
 this Warrant Certificate and the
Warrants represented by this Warrant Certificate to the extent of                      Warrants and does hereby irrevocably constitute and
appoint                      Attorney-in-Fact, to transfer the same on the books of the Company with full power of substitution in the
premises. 
  

			
	Dated:	  	 
	 	 	

		
	Signature:	  	 
	 	 	


 (Signature must conform in all respects to the name of the Warrantholder 
 as set forth on the face of this Warrant Certificate.) 
  

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