Document:

EXHIBIT 10.5

 

NOTE SUBSCRIPTION AGREEMENT

 

 

As of __________________

Safety Quick Lighting & Fans Corp.

3245 Peachtree Parkway

Suwanee, GA 30024

 

Investors:

 

1. Subscription;
Escrow Arrangement.

 

(a)The undersigned subscriber (the
“Subscriber”) hereby irrevocably subscribes for and agrees to purchase a ___% Secured Convertible Promissory
Note in the form of Exhibit C hereto (each a “Secured Note” and collectively,
the “Secured Notes”) in the principal amount set forth on the signature page hereto from Safety Quick Lighting
& Fans Corp., a Florida corporation (the “Company”) in connection with the Company’s offering of up
to $3,000,000 in Secured Notes together with warrants (the “Offering”), in the form of Exhibit
D hereto, to purchase shares of the Company’s common stock (the “Warrants”; together with the
Secured Notes, the “Securities”) pursuant to the terms set forth in the Confidential Term Sheet attached as
Exhibit A hereto. This Note Subscription Agreement and all Exhibits hereto shall be hereinafter
referred to as the “Subscription Agreement”; together with such Exhibits and Schedules attached hereto, the
“Offering Documents”. The minimum investment per Subscriber shall be $10,000 but may be waived by the Company
in its sole discretion. Simultaneously with the Offering of the Secured Notes, the Company is offering ___% Secured Convertible
Promissory Notes.

 

This subscription is
based upon the information provided in the Offering Documents and upon the Subscriber’s own investigation as to the merits
and risks of this investment. The Subscriber shall deliver herewith duly executed copies of the signature pages to the following
documents: (i) the Note Subscription Agreement attached hereto as Exhibit B, (ii) Security
Purchase Agreement attached hereto as Exhibit E, and (iii) the Accredited Investor Questionnaire
& Form W-9 provided herewith (the “Investor Questionnaire”) as Exhibit F.

 

It is currently anticipated
that the initial closing in the Offering will take place on or around November 1, 2013 and the final closing in connection with
the Offering shall occur on or before November 15, 2013 (each a “Closing” and each date, a “Closing
Date”), unless otherwise extended by the Company.

 

The Company shall
deliver PDF copies of the executed Note and Warrant issuable to the Subscriber on or prior to the Closing Date applicable to the
Subscriber.

 

(b)Subject to the terms and conditions hereinafter set
forth, the Subscriber hereby subscribes for and agrees to purchase the principal amount of Secured Notes from the Company set
forth on the signature page hereof (the “Purchase Price”), and when this Subscription Agreement is
accepted and executed by the Company, the Company agrees to issue such Secured Notes to the Subscriber. The total principal
amount of Notes issued will be up to a maximum of $3,000,000 unless increased by the Company (the “Maximum
Amount”). The Purchase Price is payable by wire transfer to Citibank, New York, NY for Safety Quick Lighting &
Fans Corp. pursuant to the following wire instructions.

    	 	 	 

    	 

    

WIRING INSTRUCTIONS

 

Citibank, New York,
NY

For the Benefit of: Thompson Hine LLP Attorney
Trust Account / IOLA

Account # 95398639

ABA/Routing: 021000089

Swift Code: CITIUS33

F/B/O Safety Quick Lighting & Fans Corp.

 

Provided that (i) the Subscriber
has satisfied all conditions set forth herein, and (ii) the Company has accepted and executed this Agreement, the Securities purchased
by the Subscriber will be delivered by the Company promptly following the Closing Date. In the event that a Closing does not occur,
Subscriber’s funds will be returned by the Company to the Subscriber.

 

2.                 
Subscriber Representations, Warranties and Agreements. The Subscriber hereby acknowledges, represents and warrants
as follows (with the understanding that the Company will rely on such representations and warranties in determining, among other
matters, the suitability of this investment for the Subscriber in order to comply with federal and state securities laws):

 

(a)In connection with this subscription,
the Subscriber has read this Subscription Agreement. The Subscriber acknowledges that this Subscription Agreement is not intended
to set forth all of the information which might be deemed pertinent by an investor who is considering an investment in the Securities.
It is the responsibility of the Subscriber (i) to determine what additional information he desires to obtain in evaluating this
investment, and (ii) to obtain such information from the Company.

 

(b)This
offering is limited to persons who are “accredited investors,” as that term is defined in RULE 501 OF Regulation D
under the Securities Act of 1933, as amended (the “Act”), and who have the financial means and the business,
financial and investment experience and acumen to conduct an investigation as to, and to evaluate, the merits and risks of this
investment. The Subscriber hereby represents that he has read, is familiar with and understands Rule 501 of Regulation D under
the Act. The Subscriber is an “accredited investor” as defined in Rule 501(a) of Regulation D.

 

(c)The Subscriber has had full access to all the
information which the Subscriber (or the Subscriber’s advisor(s)) considers necessary or appropriate to make an
informed decision with respect to the Subscriber’s investment in the Securities. The Subscriber acknowledges that the
Company has made available to the Subscriber and the Subscriber’s advisors the opportunity to examine and copy any
contract, matter or information which the Subscriber considers relevant or appropriate in connection with this investment and
to ask questions and receive answers relating to any such matters including, without limitation, the financial condition,
management, employees, business, obligation, corporate books and records, budgets, business plans of and other matters
relevant to the Company. To the extent the Subscriber has not sought information regarding any particular matter, the
Subscriber represents that he or she had and has no interest in doing so and that such matters are not material to the
Subscriber in connection with this investment. The Subscriber has accepted the responsibility for conducting the
Subscriber’s own investigation and obtaining for itself such information as to the foregoing and all other subjects as
the Subscriber deems relevant or appropriate in connection with this investment. The Subscriber is not relying on any
representation or warranty other than that contained herein. The Subscriber acknowledges that no representation regarding
projected revenues or a projected rate of return has been made to it by any party.

    	 	 	 

    	 

    

(d)The Subscriber
understands that the offering of the Securities has not been registered under the Act, in reliance on an exemption for private
offerings provided pursuant to Section 4(2) of the Act and that, as a result, the Securities will be “restricted securities”
as that term is defined in Rule 144 under the Act and, accordingly, under Rule 144 as currently in effect, that the Securities
must be held for at least one (1) year after the investment has been made (or indefinitely if the Subscriber is deemed an “affiliate”
within the meaning of such rule) unless the Securities is subsequently registered under the Act and qualified under any other applicable
securities law or exemptions from such registration and qualification are available. The Subscriber understands that the Company
is under no obligation to register the Securities under the Act or to register or qualify the Securities under any other applicable
securities law, or to comply with any other exemption under the Act or any other securities law, and that the Subscriber has no
right to require such registration. The Subscriber further understands that the Offering of the Securities has not been qualified
or registered under any foreign or state securities laws in reliance upon the representations made and information furnished by
the Subscriber herein and any other documents delivered by the Subscriber in connection with this subscription; that the offering
has not been reviewed by the SEC or by any foreign or state securities authorities; that the Subscriber’s rights to transfer
the Securities will be restricted, which includes restrictions against transfers unless the transfer is not in violation of the
Act and applicable state securities laws (including investor suitability standards); and that the Company may in its sole discretion
require the Subscriber to provide at Subscriber’s own expense an opinion of its counsel to the effect that any proposed transfer
is not in violation of the Act or any state securities laws.

 

(e) The Undersigned
is an “accredited investor” as that term is defined in Rule 501(a) of Regulation D under the 1933 Act. The Undersigned
has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of the
purchase of the Common Stock. The Undersigned is not registered as a broker or dealer under Section 15(a) of the 1934 Act, affiliated
with any broker or dealer registered under Section 15(a) of the Securities Exchange Act of 1934, as amended, or a member of the
Financial Industry Regulatory Authority.

 

Each of this Agreement and the Offering Materials have been
duly and validly authorized, executed and delivered on behalf of the Undersigned and is a valid and binding agreement of the
Undersigned enforceable against the Undersigned in accordance with their terms, subject as to enforceability to general
principles of equity and to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar laws
relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies. The Undersigned has
the requisite corporate power and authority to enter into and perform its obligations under this Agreement and the Offering
Materials and each other agreement entered into by the parties hereto in connection with the transactions contemplated by
this Agreement.

 

The execution, delivery and
performance of this Agreement and the Offering Materials by the Undersigned and the consummation by the Undersigned of the transactions
contemplated hereby and thereby will not (i) result in a violation of the certificate of incorporation, by-laws or other documents
of organization of the Undersigned, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time
or both would become a default) under, or give others any rights of termination, amendment, acceleration or cancellation of, any
agreement, indenture or instrument to which the Undersigned is bound, or (iii) result in a violation of any law, rule, regulation
or decree applicable to the Undersigned.

 

The Undersigned understands
that the Common Stock and Warrants are being offered and sold in reliance on a transactional exemption from the registration requirements
of Federal and state securities laws and that the Company is relying upon the truth and accuracy of the representations, warranties,
agreements, acknowledgments and understandings of the Undersigned set forth herein in order to determine the applicability of such
exemptions and the suitability of the Undersigned to acquire the Common Stock and Warrants.

 

(f)The Subscriber
acknowledges that there will be no market for the Securities and that the Subscriber may not be able to sell or dispose of them;
the Subscriber has liquid assets sufficient to assure that the purchase price of the Securities will cause no undue financial difficulties
and that, after purchasing the Securities the Subscriber will be able to provide for any foreseeable current needs and possible
personal contingencies; the Subscriber is able to bear the risk of illiquidity and the risk of a complete loss of this investment.

    	 	 	 

    	 

    

(g)The information
in any documents delivered by the Subscriber in connection with this subscription, including, but not limited to the Investor Questionnaire,
is true, correct and complete in all respects as of the date hereof. The Subscriber agrees promptly to notify the Company in writing
of any change in such information after the date hereof.

 

(h)The offering
and sale of the Securities to the Subscriber were not made through any advertisement in printed media of general and regular paid
circulation, radio or television or any other form of advertisement, or as part of a general solicitation.

 

(i)The Subscriber
recognizes that an investment in the Securities involves significant risks, which risks could give rise to the loss of the Subscriber’s
entire investment in such securities.

 

(j)The undersigned is purchasing the Common Stock and
Warrants for the undersigned's own account, with the intention of holding the Common Stock and Warrants, with no present
intention of dividing or allowing others to participate in this investment or of reselling or otherwise participating,
directly or indirectly, in a distribution of the Common Stock or Warrants, and shall not make any sale, transfer, or pledge
thereof without registration under the Act and any applicable securities laws of any state or unless an exemption from
registration is available under those laws.

 

The undersigned
represents that the undersigned, if an individual, has adequate means of providing for his or her current needs and personal and
family contingencies and has no need for liquidity in this investment in the Common Stock and the Warrants. The undersigned has
no reason to anticipate any material change in his or her personal financial condition for the foreseeable future.

 

The undersigned
is financially able to bear the economic risk of this investment, including the ability to hold the Common Stock and Warrants indefinitely
or to afford a complete loss of the undersigned’s investment in the Common Stock and the Warrants.

 

(k) If the
undersigned is a partnership, corporation, trust, or other entity, (i) the undersigned has enclosed with this Subscription Agreement
appropriate evidence of the authority of the individual executing this Subscription Agreement to act on its behalf (e.g., if a
trust, a certified copy of the trust agreement; if a corporation, a certified corporate resolution authorizing the signature and
a certified copy of the articles of incorporation; or if a partnership, a certified copy of the partnership agreement), (ii) the
undersigned represents and warrants that it was not organized or reorganized for the specific purpose of acquiring the Common Stock
and Warrants, (iii) the undersigned has the full power and authority to execute this Subscription Agreement on behalf of such entity
and to make the representations and warranties made herein on its behalf, and (iv) this investment in the Company has been affirmatively
authorized, if required, by the governing board of such entity and is not prohibited by the governing documents of the entity.

 

3.                 
Representations and Warrants of the Company. As a material inducement of the Subscriber to enter into this Subscription
Agreement and subscribe for the Securities, the Company represents and warrants to the Subscriber, as of the date hereof, as follows:

 

(a)Organization and Standing. The Company is a duly organized
corporation, validly existing and in good standing under the laws of the State of Florida, has full power to carry on its business
as and where such business is now being conducted and to own, lease and operate the properties and assets now owned or operated
by it and is duly qualified to do business and is in good standing in each jurisdiction where the conduct of its business or the
ownership of its properties requires such qualification except where the failure to be so qualified would not have a Material
Adverse Effect. “Material Adverse Effect” means any circumstance,
change in, or effect on the Company that, individually or in the aggregate with any other similar circumstances, changes in, or
effects on, the Company taken as a whole: (i) is, or is reasonably expected to be, materially adverse to the business, operations,
assets, liabilities, employee relationships, customer or supplier relationships, prospects, results of operations or the condition
(financial or otherwise) of the Company taken as a whole, or (ii) is reasonably expected to adversely affect the ability of the
Company to operate or conduct the Company’s business in the manner in which it is currently operated or conducted or proposed
to be operated or conducted by the Company.

 

(b)Authority.
The execution, delivery and performance of this Subscription Agreement and the other Offering Documents by the Company and the
consummation of the transactions contemplated hereby and thereby have been duly authorized by the Board of Directors of the Company.

    	 	 	 

    	 

    

(c)No Conflict.
The execution, delivery and performance of this Subscription Agreement and the other Offering Documents, and the consummation of
the transactions contemplated hereby and thereby do not (i) violate or conflict with the Company’s Certificate of Incorporation,
By-laws or other organizational documents, (ii) conflict with or result (with the lapse of time or giving of notice or both) in
a material breach or default under any material agreement or instrument to which the Company is a party or by which the Company
is otherwise bound, or (iii) violate any order, judgment, law, statute, rule or regulation applicable to the Company, except where
such violation, conflict or breach would not have a Material Adverse Effect. This Subscription Agreement and the other Offering
Documents when executed by the Company will be a legal, valid and binding obligation of the Company enforceable in accordance with
its terms (except as may be limited by bankruptcy, insolvency, reorganization, moratorium and similar laws and equitable principles
relating to or limiting creditors’ rights generally).

 

(d)Authorization.
Issuance of the Securities to the Subscriber has been duly authorized by all appropriate corporate actions of the Company.

 

(e)Litigation and
Other Proceedings. There are no actions, suits, proceedings or investigations pending or, to the knowledge of the Company,
threatened against the Company at law or in equity before or by any court or Federal, state, municipal or their governmental department,
commission, board, bureau, agency or instrumentality, domestic or foreign which could materially adversely affect the Company.
The Company is not subject to any continuing order, writ, injunction or decree of any court or agency against it which would have
a material adverse effect on the Company.

 

(f)Use of Proceeds.
The proceeds of this Offering and sale of the Securities, net of payment of placement expenses, will be used by the Company for
working capital and other general corporate purposes subject to the restrictions set forth in the Securities and on Schedule
1 hereto.

 

(g)Consents/Approvals.
No consents, filings (other than Federal and state securities filings relating to the issuance of the Securities pursuant to applicable
exemptions from registration, which the Company hereby undertakes to make in a timely fashion), authorizations or other actions
of any governmental authority are required to be obtained or made by the Company for the Company’s execution, delivery and
performance of this Subscription Agreement which have not already been obtained or made or will be made in a timely manner following
the Closing.

 

(h)No Commissions.
The Company has not incurred any obligation for any finder’s, broker’s or agent’s fees or commissions in connection
with the transaction contemplated hereby other than those fees payable to a Placement Agent pursuant to that certain Placement
Agent Agreement, dated September 27, 2013, by and between the Company and Bradley Woods & Co. Ltd., such fees shall not be
in excess of eight percent (8%) of aggregate capital raised in the Offering.

 

(i)Capitalization.
A capitalization table illustrating the authorized and the outstanding capital stock of the Company as of the date hereof is attached
as Schedule 2. All of such outstanding shares have been, or upon issuance will be, validly
issued, fully paid and nonassessable. As of the date hereof, except as disclosed in Schedule 2.2,
(i) no shares of the Company’s capital stock are subject to preemptive rights or any other similar rights or any liens or
encumbrances suffered or permitted by the Company, (ii) there are no outstanding debt securities, (iii) there are no outstanding
options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever relating to, or securities or
rights convertible into, any shares of capital stock of the Company or any of its subsidiaries, or contracts, commitments, understandings
or arrangements by which the Company or any of its subsidiaries is or may become bound to issue additional shares of capital stock
of the Company or any of its subsidiaries or options, warrants, scrip, rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities or rights convertible into, any shares of capital stock of the Company or any of its subsidiaries,
(iv) there are no agreements or arrangements under which the Company or any of its subsidiaries is obligated to register the sale
of any of their securities under the Act, (v) there are no outstanding securities of the Company or any of its subsidiaries which
contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which
the Company or any of its subsidiaries is or may become bound to redeem a security of the Company or any of its subsidiaries, and
(vi) there are no securities or instruments containing anti-dilution or similar provisions that will be triggered by the issuance
or exercise of the Securities or Warrants as described in this Subscription Agreement. The Company has furnished to the Subscriber
true and correct copies of the Company’s Certificate of Incorporation attached hereto as Schedule
6, as amended and as in effect on the date hereof (the “Certificate of Incorporation”), and the Company’s
By-laws, as in effect on the date hereof (the “By-laws”) attached hereto as Schedule
7, and the terms of all securities convertible or exchangeable into or exercisable for Common Stock and the material
rights of the holders thereof in respect thereto. Schedule 2.1 also lists all outstanding
debt of the Company for borrowed money (other than the Secured Notes previously issued in the Offering).

    	 	 	 

    	 

    

(j)Employee Relations.
Neither the Company nor any of its subsidiaries is involved in any labor dispute nor, to the knowledge of the Company or any of
its subsidiaries, is any such dispute threatened, the effect of which would be reasonably likely to result in a Material Adverse
Effect. Neither the Company nor any of its subsidiaries is a party to a collective bargaining agreement.

 

(k)Intellectual Property Rights. The Company and its subsidiaries
own or possess adequate rights or licenses to use all trademarks, trade names, service marks, service mark registrations, service
names, patents, patent rights, copyrights, inventions, licenses, approvals, governmental authorizations, trade secrets and rights
necessary to conduct their respective businesses as now conducted. The Company and its subsidiaries do not have any knowledge
of any infringement by the Company or its subsidiaries of trademark, trade name rights, patents, patent rights, copyrights, inventions,
licenses, service names, service marks, service mark registrations, trade secret or other similar rights of others, or of any
such development of similar or identical trade secrets or technical information by others and, except as set forth on Schedule
3, there is no claim, action or proceeding being made or brought against, or to the Company’s knowledge, being
threatened against, the Company or its subsidiaries regarding trademarks, trade name rights, patents, patent rights, inventions,
copyrights, licenses, service names, service marks, service mark registrations, trade secrets or other infringement.

 

(l)Environmental
Laws. The Company and its subsidiaries (i) are to the Company’s knowledge in compliance with any and all applicable foreign,
federal, state and local laws and regulations relating to the protection of human health and safety, the environment or hazardous
or toxic substances or wastes, pollutants or contaminants (“Environmental Laws”), (ii) have received all permits,
licenses or other approvals required of them under applicable Environmental Laws to conduct their respective businesses, and (iii)
are in compliance with all terms and conditions of any such permit, license or approval where such noncompliance or failure to
receive permits, licenses or approvals referred to in clauses (i), (ii) or (iii) above would be reasonably likely to result in
a Material Adverse Effect.

 

(m)Disclosure.
No representation or warranty by the Company in this Subscription Agreement, the other Offering Documents, nor in any certificate,
Schedule or Exhibit delivered or to be delivered pursuant to this Subscription Agreement or the other Offering Documents contains
or will contain any untrue statement of material fact or omits or will omit to state a material fact necessary to make the statements
contained herein or therein not misleading. To the knowledge of the Company and its subsidiaries at the time of the execution of
this Subscription Agreement, there is no information concerning the Company and its subsidiaries or their respective businesses
which has not heretofore been disclosed to the Subscribers that would have a Material Adverse Effect.

 

(n)Title. The
Company and its subsidiaries have good and marketable title in fee simple to all real property and good and marketable title to
all personal property owned by them which is material to the business of the Company and its subsidiaries, in each case free and
clear of all liens, encumbrances and defects except such as are described in Schedule 2.1
or such as do not materially and adversely affect the value of such property and do not interfere with the use made and proposed
to be made of such property by the Company or any of its subsidiaries. Any real property and facilities held under lease by the
Company or any of its subsidiaries are held by them under valid, subsisting and enforceable leases with such exceptions as are
not material and do not interfere with the use made and proposed to be made of such property and buildings by the Company and its
subsidiaries.

 

(o)Foreign Corrupt Practices Act. To the Company’s
knowledge, neither the Company, nor any director, officer, agent, employee or other person acting on behalf of the Company or
any subsidiary has, in the course of acting for, or on behalf of, the Company, directly or indirectly used any corporate funds
for any unlawful contribution, gift, entertainment or other unlawful expenses relating to political activity; directly or indirectly
made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds;
violated or is in violation of any provision of the U.S. Foreign Corrupt Practices Act of 1977, as amended, or any similar treaties
of the United States; or directly or indirectly made any bribe, rebate, payoff, influence payment, kickback or other unlawful
payment to any foreign or domestic government or party official or employee.

    	 	 	 

    	 

    

(p)Tax Status.
The Company and each of its subsidiaries has made or filed all United States federal and state income and all other tax returns,
reports and declarations required by any jurisdiction to which it is subject and all such returns, reports and declarations are
true, correct and accurate in all material respects. The Company has paid all taxes and other governmental assessments and charges,
shown or determined to be due on such returns, reports and declarations, except those being contested in good faith, for which
adequate reserves have been established, in accordance with generally accepted accounting principles.

 

(q)Compliance with
Laws. The business of the Company and its subsidiaries has been and is presently being conducted so as to comply with all applicable
material federal, state and local governmental laws, rules, regulations and ordinances.

 

(r)Employee Benefit Plans; ERISA. Schedule
5 sets forth a true, correct and complete list of all employee benefit plans, programs, policies and arrangements,
whether written or unwritten (the “Company Plans”), that the Company, any subsidiary or any other corporation
or business which is now or at the relevant time was a member of a controlled group of companies or trades or businesses including
the Company or any subsidiary, within the meaning of section 414 of the Internal Revenue Code of 1986, as amended (the “Code”),
maintain or have maintained on behalf of current or former members, partners, principals, directors, officers, managers, employees,
consultants or other personnel. (i) There has been no prohibited transaction within the meaning of Section 406 of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”), or Section 4975 of the Code, with respect to
any of the Company Plans; (ii) none of the Company Plans is or was subject to Section 412 of the Code or Section 302 or Title
IV of ERISA; and (iii) each of the Company Plans has been operated and administered in all material respects in accordance with
all applicable laws, including ERISA. There are no actions, suits or claims pending or threatened (other than routine claims for
benefits), whether by participants, the Internal Revenue Service, the Department of Labor or otherwise, with respect to any Company
Plan and no facts exist under which any such actions, suits or claims are likely to be brought or under which the Company or any
subsidiary could incur any liability with respect to a Company Plan other than in the ordinary course. None of the Company Plans
is or was a multiemployer plan within the meaning of Section 3(37) of ERISA. Neither the Company nor any subsidiary has announced,
proposed or agreed to any change in benefits under any Company Plan or the establishment of any new Company Plan. There have been
no changes in the operation or interpretation of any Company Plan since the most recent annual report, which would have any material
effect on the cost of operating, maintaining or providing benefits under such Company Plan. Neither the Company nor any subsidiary
has incurred any liability for the misclassification of employees as leased employees or independent contractors. Except as provided
for in this Subscription Agreement and in the other Offering Documents, the consummation of the transactions contemplated by this
Subscription Agreement, either alone or in combination with another event, will not (A) result in any individual becoming entitled
to any increase in the amount of compensation or benefits or any additional payment from the Company or any subsidiary (including,
without limitation, severance, golden parachute or bonus payments or otherwise), or (B) accelerate the vesting or timing of payment
of any benefits or compensation payable in respect of any individual.

(s)Restrictions
on Business Activities. There is no judgment, order, decree, writ or injunction binding upon the Company or any subsidiary
or, to the knowledge of the Company or any subsidiary, threatened that has or could prohibit or impair the conduct of their respective
businesses as currently conducted or any business practice of the Company or any subsidiary, including the acquisition of property,
the provision of services, the hiring of employees or the solicitation of clients, in each case either individually or in the aggregate.

 

4.                 
Legends. The Subscriber understands and agrees that the Company will cause any necessary legends in addition to representations
to be placed upon any instruments(s) evidencing ownership of the Securities, together with any other legend that may be required
by federal or state securities laws or deemed necessary or desirable by the Company.

 

5.                 
General Provisions.

 

(a)               
Confidentiality. The Subscriber covenants and agrees that it will keep confidential and will not disclose or divulge
any confidential or proprietary information that such Subscriber may obtain from the Company pursuant to financial statements,
reports, and other materials submitted by the Company to such Subscriber in connection with this Offering or as a result of discussions
with or inquiry made to the Company, unless such information is known, or until such information becomes known, to the public through
no action by the Subscriber; provided, however, that a Subscriber may disclose such information to its attorneys,
accountants, consultants, and other professionals to the extent necessary in connection with his or her investment in the Company
so long as any such professional to whom such information is disclosed is made aware of the Subscriber’s obligations hereunder
and such professional agrees to be likewise bound as though such professional were a party hereto.

    	 	 	 

    	 

    

(b)              
Successors. The covenants, representations and warranties contained in this Subscription Agreement shall be binding
on the Subscriber’s and the Company’s heirs and legal representatives and shall inure to the benefit of the respective
successors and assigns of the Company. The rights and obligations of this Subscription Agreement may not be assigned by any party
without the prior written consent of the other party.

 

(c)               
Counterparts. This Subscription Agreement may be executed in counterparts, each of which shall be deemed an original agreement,
but all of which together shall constitute one and the same instrument.

 

(d)               Execution
by Facsimile or Email. Execution and delivery of this Subscription Agreement by facsimile transmission or Internet
email (including the delivery of documents in Adobe PDF format) shall constitute execution and delivery of this Agreement for
all purposes, with the same force and effect as execution and delivery of an original manually signed copy hereof.

 

(e)               
Governing Law and Jurisdiction. This Subscription Agreement shall be governed by and construed in accordance with the laws
of the State of New York applicable to contracts to be wholly performed within such state and without regard to conflicts of law
provisions that would result in the application of any laws other than the laws of the State of New York. Any legal action or proceeding
arising out of or relating to this Subscription Agreement and/or the other Offering Documents may be instituted in the courts of
the State of New York sitting in New York County or in the United States of America for the Southern District of New York, and
the parties hereto irrevocably submit to the jurisdiction of each such court in any action or proceeding. Subscriber hereby irrevocably
waives and agrees not to assert, by way of motion, as a defense, or otherwise, in every suit, action or other proceeding arising
out of or based on this Subscription Agreement and/or the other Offering Documents and brought in any such court, any claim that
Subscriber is not subject personally to the jurisdiction of the above named courts, that Subscriber’s property is exempt
or immune from attachment or execution, that the suit, action or proceeding is brought in an inconvenient forum or that the venue
of the suit, action or proceeding is improper.

 

(f)               
Indemnification Generally.

 

i.                       
The Company, on the one hand, and the Subscriber, on the other hand (each an “Indemnifying Party”),
shall indemnify the other from and against any and all losses, damages, liabilities, claims, charges, actions, proceedings, demands,
judgments, settlement costs and expenses of any nature whatsoever (including, without limitation, reasonable attorneys’
fees and expenses) resulting from any breach of a representation and warranty, covenant or agreement by the Indemnifying Party
and all claims, charges, actions or proceedings incident to or arising out of the foregoing.

 

ii.                       
Indemnification Procedures. Each person entitled to indemnification under this Section 5 (an “Indemnified
Party”) shall give notice as promptly as reasonably practicable to each party required to provide indemnification under
this Section 5 of any action commenced against or by it in respect of which indemnity may be sought hereunder, but failure to
so notify an Indemnifying Party shall not release such Indemnifying Party from any liability that it may have, otherwise than
on account of this indemnity agreement so long as such failure shall not have materially prejudiced the position of the Indemnifying
Party. Upon such notification, the Indemnifying Party shall assume the defense of such action if it is a claim brought by a third
party, and, if and after such assumption, the Indemnifying Party shall not be entitled to reimbursement of any expenses incurred
by it in connection with such action except as described below. In any such action, any Indemnified Party shall have the right
to retain its own counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless
(A) the Indemnifying Party and the Indemnified Party shall have mutually agreed to the contrary, or (B) the named parties in any
such action (including any impleaded parties) include both the Indemnifying Party and the Indemnified Party and representation
of both parties by the same counsel would be inappropriate due to actual or potential differing or conflicting interests between
them. The Indemnifying Party shall not be liable for any settlement of any proceeding effected without its written consent (which
shall not be unreasonably withheld or delayed by such Indemnifying Party), but if settled with such consent or if there be final
judgment for the plaintiff, the Indemnifying Party shall indemnify the Indemnified Party from and against any loss, damage or
liability by reason of such settlement or judgment.

 

(g)              
Notices. All notices, requests, demands, claims and other communications hereunder shall be in writing and shall
be delivered by certified or registered mail (first class postage pre-paid), guaranteed overnight delivery, or facsimile transmission
if such transmission is confirmed by delivery by certified or registered mail (first class postage pre-paid) or guaranteed overnight
delivery, to the following addresses and facsimile numbers (or to such other addresses or facsimile numbers which such party shall
subsequently designate in writing to the other party):

    	 	 	 

    	 

    

(i)if to the Company:

 

Safety Quick Lighting
& Fans Corp.

3245 Peachtree
Parkway

Suwanee, GA 30024

Attention: Mr.
James R. Hills

 

with a copy to

 

Thompson Hine LLP

335 Madison Avenue, 12th
Floor

New York, NY 10017

Attention: Mr. Peter J. Gennuso

 

(ii)If to Subscriber
to the address set forth next to its name on the signature page hereto.

 

(h)               Entire
Agreement. This Subscription Agreement (including the Exhibits attached hereto) and other Offering Documents delivered at
the Closing pursuant hereto, contain the entire understanding of the parties in respect of its subject matter and supersedes
all prior agreements and understandings between or among the parties with respect to such subject matter. The
Exhibits constitute a part hereof as though set forth in full above.

 

(i)                
Amendment; Waiver. This Subscription Agreement may not be modified, amended, supplemented, canceled or discharged,
except by written instrument executed by both parties. No failure to exercise and no delay in exercising, any right, power or privilege
under this Subscription Agreement shall operate as a waiver, nor shall any single or partial exercise of any right, power or privilege
hereunder preclude the exercise of any other right, power or privilege. No waiver of any breach of any provision shall be deemed
to be a waiver of any proceeding or succeeding breach of the same or any other provision, nor shall any waiver be implied from
any course of dealing between the parties. No extension of time for performance of any obligations or other acts hereunder or under
any other agreement shall be deemed to be an extension of the time for performance of any other obligations or any other acts.
The rights and remedies of the parties under this Subscription Agreement are in addition to all other rights and remedies, at law
or equity, that they may have against each other.

 

 

[SIGNATURE PAGE FOLLOWS]

    	 

    	 

    

INFORMATION IN RESPONSE TO THIS SECTION
WILL BE KEPT STRICTLY CONFIDENTIAL

 

 

DOLLAR
AMOUNT INVESTED $_____________________________ and/or $____________________________ 

 

Face Amount of Note: 

	
        ___%
Interest and ___% Warrant  ___% Interest and ____% Warrant

  

AMOUNT INVESTED
TO BE SENT VIA: □ Check (enclosed)□
Wire 

  

Name in Which Note and Warrants Should
Be Issued:

 ______________________________________________________________________________________________

 

Address Information:

For individual subscribers this address should be the Subscriber’s primary
legal residence. For entities other than individual subscribers, please provide address information for the entities primary place
of business. Information regarding a joint subscriber should be included in the column at right.

	
         

        ________________________________________________

        Legal Address
	
         

        ________________________________________________

        Legal Address

	
         

        _________________________________________

        City, State, and Zip Code
	
         

        _________________________________________

        City, State, and Zip Code

 

Alternate Address Information:

Subscribers who wish to receive correspondence
at an address other than the address listed above should complete the Alternate Address section below.

	
         

        _________________________________________

        Alternate Address for Correspondence
	
         

        _________________________________________

        Alternate Address for Correspondence

	
         

        _________________________________________

        City, State and Zip Code
	
         

        _________________________________________

        City, State and Zip Code

	
         

        _________________________________________

        Telephone
	
         

        _________________________________________

        Telephone

	
         

        _________________________________________

        Tax ID # or Social Security #

         
	
         

        _________________________________________

        Tax ID # or Social Security #

         

	
         

        AGREED
        AND SUBSCRIBED

         

         

        This ___ day of ___________,
        _____

         

        By:_________________________________

         

        Name:_______________________________

         

        Title (if any): _________________________
	
         

        ACCEPTED

         

         

        This ___ day of ___________,
        _____

         

        By:_________________________________

         

        Name: James R. Hills

         

        Title: President & CEO

         

    	 

    	 

    

CERTIFICATE OF SIGNATORY

 

(To be completed if the Securities are

being subscribed for by an entity)

 

 

I, ___________________________________________, am
the_______________________________ of _____________________________________________ (the “Entity”).

 

I certify that I am empowered
and duly authorized by the Entity to execute and carry out the terms of the Securities Purchase Agreement and to purchase and hold
the Notes and Warrants, and certify further that the Securities Purchase Agreement has been duly and validly executed on behalf
of the Entity and constitutes a legal and binding obligation of the Entity.

 

IN WITNESS WHEREOF, I have
set my hand this ____ day of ____________, 2013.

 

 

______________________________________

 

(Signature)EXHIBIT 10.6

 

 

	
        NEITHER THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE
        OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR QUALIFIED UNDER APPLICABLE
        STATE SECURITIES LAWS AND MAY ONLY BE ACQUIRED FOR INVESTMENT PURPOSES ONLY AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE
        SALE OR DISTRIBUTION THEREOF. THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE OF THIS WARRANT, IF ANY, MAY NOT BE SOLD,
        OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH SECURITIES UNDER THE
        ACT AND QUALIFICATION UNDER APPLICABLE STATE LAW WITHOUT AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION
        AND QUALIFICATION ARE NOT REQUIRED UNDER THE ACT OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION.

         

         

 

 

 

 

 

 

COMMON STOCK PURCHASE WARRANT

 

To Purchase _______ Shares of Common Stock of

 

SAFETY QUICK LIGHTING & FANS CORP.

 

______________________ (the “Issuance
Date”)

 

 

THIS COMMON STOCK PURCHASE
WARRANT (the “Warrant”) CERTIFIES that, for value received, _____________________ (the “Holder”),
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on
or after the date of this Warrant and on or prior to the fifth anniversary of the date of this Warrant (the “Termination
Date”) but not thereafter, to subscribe for and purchase from Safety Quick Lighting & Fans Corp., a Florida corporation
(the “Company”), up to _______ shares (the “Warrant Shares”) of the Common Stock, par value
$0.001 per share, of the Company (the “Common Stock”). The purchase price of one share of Common Stock (the
“Exercise Price”) under this Warrant shall be US $0.375 (thirty-seven and one half cent US). The Exercise
Price and the number of Warrant Shares for which the Warrant is exercisable shall be subject to adjustment as provided herein.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement
(the “Purchase Agreement”), dated as of _________________, among the Company and the Purchaser parties signatory
thereto.

 

1. Title to Warrant.
Prior to the Termination Date and subject to compliance with applicable laws, including transfer restrictions imposed by applicable
securities laws, and Section 7 of this Warrant, this Warrant and all rights hereunder are transferable, in whole or in part, at
the office or agency of the Company by the Holder in person or by duly authorized attorney, upon surrender of this Warrant together
with the Assignment Form annexed hereto properly endorsed. The transferee shall sign an investment letter in form and substance
reasonably satisfactory to the Company.

 

2 Authorization
of Shares. The Company covenants that all Warrant Shares, which may be issued upon the exercise of the purchase rights represented
by this Warrant in accordance with the terms of this Warrant, including the payment of the exercise price for such Warrant Shares,
will, upon exercise of the purchase rights represented by this Warrant, be duly authorized, validly issued, fully paid and nonassessable
and free from all taxes, liens and charges in respect of the issue thereof (other than taxes in respect of any transfer occurring
contemporaneously with such issue).

    	 

    	 

    

 

3. Exercise of Warrant.

 

(a) Exercise
of the purchase rights represented by this Warrant may be made at any time or times on or before the Termination Date by delivery
to the Company of a duly executed Notice of Exercise Form annexed hereto (or such other office or agency of the Company as it may
designate by notice in writing to the registered Holder at the address of such Holder appearing on the books of the Company) and
surrender of this Warrant, together with payment of the aggregate Exercise Price of the shares thereby purchased by wire transfer
or cashier’s check drawn on a United States bank in immediately available funds. Certificates for shares purchased hereunder
shall be delivered to the Holder within 5 Trading Days from the delivery to the Company of the Notice of Exercise Form, surrender
of this Warrant and payment of the aggregate Exercise Price as set forth above (“Warrant Share Delivery Date”).
This Warrant shall be deemed to have been exercised on the later of the date the Notice of Exercise is delivered to the Company
and the date the Exercise Price is received by the Company. The Warrant Shares shall be deemed to have been issued, and Holder
or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all
purposes, as of the date the Warrant has been exercised by payment to the Company of the Exercise Price and all taxes required
to be paid by the Holder, if any, pursuant to Section 5 prior to the issuance of such shares, have been paid. If the Company fails
to deliver to the Holder a certificate or certificates representing the Warrant Shares pursuant to this Section 3(a) by the end
of business (New York, New York time) on the fifth Trading Day following the Warrant Share Delivery Date, then the Holder will
have the right to rescind such exercise. Nothing herein shall limit a Holder’s right to pursue any other remedies available
to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with
respect to the Company’s failure to timely deliver certificates representing shares of Common Stock upon exercise of the
Warrant as required pursuant to the terms hereof.

 

(b) If this
Warrant shall have been exercised in part, the Company shall, at the time of delivery of the certificate or certificates representing
Warrant Shares, deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares called
for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

 

(c) If at
any time after one year from the date of issuance of this Warrant, there is no effective Registration Statement registering the
resale of the Warrant Shares by the Holder at such time, this Warrant may also be exercised at such time by means of a “cashless
exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient
obtained by dividing [(A-B) (X)] by (A), where:

 

(A) = the VWAP
on the Trading Day immediately preceding the date of such election;

 

(B) = the Exercise
Price of this Warrant, as adjusted; and

 

(X) = the number
of Warrant Shares issuable upon exercise of this Warrant in accordance with the terms of this Warrant by means of a cash exercise
rather than a cashless exercise.

 

“VWAP” shall mean, for any
date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then listed or quoted
on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date)
on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg Financial L.P. (based on a trading
day from 9:30 a.m. Eastern Time to 4:02 p.m. Eastern Time); (b) if the Common Stock is not then listed or quoted on a Trading Market
and if prices for the Common Stock are then reported in the “Pink Sheets” published by the National Quotation Bureau
Incorporated (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per
share of the Common Stock so reported; or (c) in all other cases, the fair market value of a share of Common Stock as determined
by an independent appraiser selected in good faith by the Purchasers and reasonably acceptable to the Company.

    	 

    	 

    

 

4. No Fractional
Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant.
As to any fraction of a share which Holder would otherwise be entitled to purchase upon such exercise, the Company shall pay a
cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price.

 

5. Charges, Taxes
and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer
tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by
the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the
Holder; provided, however, that in the event certificates for Warrant Shares are to be issued in a name other than the name of
the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed
by the Holder; and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer
tax incidental thereto.

 

6. Closing of Books.
The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant
to the terms hereof.

 

7. Transfer, Division
and Combination.

 

(a) Subject
to compliance with any applicable securities laws and the conditions set forth in Sections 1 and 7(e) hereof and to the provisions
of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender
of this Warrant at the principal office of the Company, together with a written assignment of this Warrant substantially in the
form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable
upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new
Warrant or Warrants in the name of the assignee or assignees and in the denomination or denominations specified in such instrument
of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant
shall promptly be cancelled. A Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares
without having a new Warrant issued.

 

(b) This
Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together
with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its
agent or attorney. Subject to compliance with Section 7(a), as to any transfer which may be involved in such division or combination,
the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined
in accordance with such notice.

 

(c) The
Company shall prepare, issue and deliver at its own expense (other than transfer taxes) the new Warrant or Warrants under this
Section 7.

 

(d) The
Company agrees to maintain, at its aforesaid office, books for the registration and the registration of transfer of the Warrants.

 

(e) The
Company may require, as a condition of allowing such transfer (i) that the Holder or transferee of this Warrant, as the case may
be, furnish to the Company a written opinion of counsel (which opinion shall be in form, substance and scope 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 state securities or blue sky laws, (ii) that the holder or transferee execute and deliver to the Company an
investment letter in form and substance acceptable to the Company and (iii) that the transferee be an “accredited investor”
as defined in Rule 501(a) promulgated under the Securities Act or a qualified institutional buyer as defined in Rule 144A(a) under
the Securities Act.

    	 

    	 

    

 

8. No Rights as
Shareholder until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder
of the Company prior to the exercise hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise Price
(or by means of a cashless exercise), the Warrant Shares so purchased shall be and be deemed to be issued to such Holder as the
record owner of such shares as of the close of business on the later of the date of such surrender or payment.

 

9. Loss, Theft,
Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory
to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and
in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant,
shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated,
the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of
such Warrant or stock certificate.

 

10. Saturdays, Sundays,
Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted
herein shall be a Saturday, Sunday or a legal holiday, then such action may be taken or such right may be exercised on the next
succeeding day not a Saturday, Sunday or legal holiday.

 

11. Adjustments
of Exercise Price and Number of Warrant Shares. The number and kind of securities purchasable upon the exercise of this Warrant
and the Exercise Price shall be subject to adjustment from time to time in the event that the Company: (i) pays a dividend in shares
of Common Stock or make a distribution in shares of Common Stock to holders of its outstanding Common Stock; (ii) subdivides its
outstanding shares of Common Stock into a greater number of shares; (iii) combines its outstanding shares of Common Stock into
a smaller number of shares of Common Stock; or (iv) issues any shares of its capital stock in a reclassification of the Common
Stock, then the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior thereto shall be adjusted
so that the Holder shall be entitled to receive the kind and number of Warrant Shares or other securities of the Company which
it would have owned or have been entitled to receive had such Warrant been exercised in advance thereof. Upon each such adjustment
of the kind and number of Warrant Shares or other securities of the Company which are purchasable hereunder, the Holder shall thereafter
be entitled to purchase the number of Warrant Shares or other securities resulting from such adjustment at an Exercise Price per
Warrant Share or other security obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the
number of Warrant Shares purchasable pursuant hereto immediately prior to such adjustment and dividing by the number of Warrant
Shares or other securities of the Company that are purchasable pursuant hereto immediately after such adjustment. An adjustment
made pursuant to this paragraph shall become effective immediately after the effective date of such event retroactive to the record
date, if any, for such event.

 

12. Subsequent Equity
Sales. In the event that on or subsequent to the Issuance Date, the Company issues or sells any Common Stock, any securities
which are convertible into or exchangeable for its Common Stock or any convertible securities, or any warrants or other rights
to subscribe for or to purchase or any options for the purchase of its Common Stock or any such convertible securities (the “Common
Stock Equivalents”) (other than (i) securities which are issued pursuant to the Transaction Documents, (ii) shares of
Common Stock or options to purchase such shares issued to employees, consultants, officers or directors in accordance with stock
plans approved by the Board of Directors, and shares of Common Stock issuable under options or warrants that are outstanding as
of the date of the Transaction Documents or issued in the future pursuant to any stock incentive plan authorized by the Board of
Directors, and (iii) shares of Common Stock issued pursuant to a stock dividend, split or other similar transaction at an effective
price per share which is less than the Exercise Price, then the Exercise Price in effect immediately prior to such issue or sale
shall be reduced to the lowest per share price of Common Stock in such issuance or sale or deemed issuance or sale.

    	 

    	 

    

 

13. Reorganization,
Reclassification, Merger, Consolidation or Disposition of Assets. In case the Company shall reorganize its capital, reclassify
its capital stock, consolidate or merge with or into another corporation (where the Company is not the surviving corporation or
where there is a change in or distribution with respect to the Common Stock of the Company), or sell, transfer or otherwise dispose
of its property, assets or business to another corporation and, pursuant to the terms of such reorganization, reclassification,
merger, consolidation or disposition of assets, shares of common stock of the successor or acquiring corporation, or any cash,
shares of stock or other securities or property of any nature whatsoever (including warrants or other subscription or purchase
rights) in addition to or in lieu of common stock of the successor or acquiring corporation (“Other Property”),
are to be received by or distributed to the holders of Common Stock of the Company, then, from and after the consummation of such
transaction or event, the Holder shall have the right thereafter to receive, instead of the Warrant Shares, at the option of the
Holder, (a) upon exercise of this Warrant, the number of shares of Common Stock of the successor or acquiring corporation or of
the Company, if it is the surviving corporation, and Other Property receivable upon or as a result of such reorganization, reclassification,
merger, consolidation or disposition of assets by a Holder of the number of shares of Common Stock for which this Warrant is exercisable
immediately prior to such event or (b) cash equal to the value of this Warrant as determined in accordance with the Black-Scholes
option pricing formula. For purposes of this Section 12, “common stock of the successor or acquiring corporation” shall
include stock of such corporation of any class which is not preferred as to dividends or assets over any other class of stock of
such corporation and which is not subject to redemption and shall also include any evidences of indebtedness, shares of stock or
other securities which are convertible into or exchangeable for any such stock, either immediately or upon the arrival of a specified
date or the happening of a specified event and any warrants or other rights to subscribe for or purchase any such stock. The foregoing
provisions of this Section 12 shall similarly apply to successive reorganizations, reclassifications, mergers, consolidations or
disposition of assets.

 

14. Notice of Adjustment.
Whenever the number of Warrant Shares or number or kind of securities or other property purchasable upon the exercise of this Warrant
or the Exercise Price is adjusted, as herein provided, the Company shall give notice thereof to the Holder, which notice shall
state the number of Warrant Shares (and other securities or property) purchasable upon the exercise of this Warrant and the Exercise
Price of such Warrant Shares (and other securities or property) after such adjustment, setting forth a brief statement of the facts
requiring such adjustment and setting forth the computation by which such adjustment was made.

 

15. Notice of Corporate
Action. If at any time:

 

(a) the
Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend or other
distribution, or

 

(b) there
shall be any capital reorganization of the Company, any reclassification or recapitalization of the capital stock of the Company
or any consolidation or merger of the Company with, or any sale, transfer or other disposition of all or substantially all the
property, assets or business of the Company to, another corporation or,

 

(c) there
shall be a voluntary or involuntary dissolution, liquidation or winding up of the Company;

 

then, in any one or more of such cases, the
Company shall give to Holder (i) prior written notice of the date on which a record date shall be selected for such dividend or
distribution or for determining rights to vote in respect of any such reorganization, reclassification, merger, consolidation,
sale, transfer, disposition, liquidation or winding up, and (ii) in the case of any such reorganization, reclassification, merger,
consolidation, sale, transfer, disposition, dissolution, liquidation or winding up, prior written notice of the date when the same
shall take place. Such notice in accordance with the foregoing clause also shall specify (i) the date on which the holders of Common
Stock shall be entitled to any such dividend or distribution, and the amount and character thereof, and (ii) the date on which
any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding
up is to take place and the time, if any such time is to be fixed, as of which the holders of Common Stock shall be entitled to
exchange their Warrant Shares for securities or other property deliverable upon such disposition, dissolution, liquidation or winding
up. Each such written notice shall be sufficiently given if addressed to Holder at the last address of Holder appearing on the
books of the Company and delivered in accordance with Section 16(d).

    	 

    	 

    

 

16. Authorized Shares.
The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common
Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights
under this Warrant. The Company further 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.

 

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 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.

 

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.

 

17. Miscellaneous.

 

(a) Jurisdiction.
All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be governed by and construed
in accordance with the laws of the State of New York applicable to contracts to be wholly performed within such state and without
regard to conflicts of law provisions that would result in the application of any laws other than the laws of the State of New
York. Any legal action or proceeding arising out of or relating to this Warrant may be instituted in the courts of the State of
New York sitting in New York County or in the United States of America for the Southern District of New York, and the parties hereto
irrevocably submit to the jurisdiction of each such court in any action or proceeding. Holder hereby irrevocably waives and agrees
not to assert, by way of motion, as a defense, or otherwise, in every suit, action or other proceeding arising out of or based
on this Warrant and brought in any such court, any claim that Holder is not subject personally to the jurisdiction of the above
named courts, that Holder’s property is exempt or immune from attachment or execution, that the suit, action or proceeding
is brought in an inconvenient forum or that the venue of the suit, action or proceeding is improper.

 

(b) Restrictions.
The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered for resale, will
have restrictions upon resale imposed by state and federal securities laws.

 

(c) Nonwaiver
and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate
as a waiver of such right or otherwise prejudice Holder’s rights, powers or remedies, notwithstanding all rights hereunder
terminate on the Termination Date. If the Company willfully and knowingly fails to comply with any provision of this Warrant, which
results in any material damages to the Holder, the Company shall pay to Holder such amounts as shall be sufficient to cover any
costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred
by Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

    	 

    	 

    

 

(d) Notices.
Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered
in accordance with the notice provisions of the Purchase Agreement.

 

(e) Limitation
of Liability. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant or purchase
Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability of Holder for
the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or
by creditors of the Company.

 

(f) Successors
and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure
to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions
of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by
any such Holder or holder of Warrant Shares.

 

(g) Amendment.
This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

 

(h) Severability.
Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective
to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions
of this Warrant.

 

(i) Headings.
The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of
this Warrant.

 

 

 

[Signature Page Follows]

    	 

    	 

    

 

 

IN WITNESS
WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized.

 

Dated: _____________    ________

 

				
	SAFETY QUICK LIGHTING & FANS CORP.
			
	By:		
         

         
	
		    	
         

        James R. Hills 
	
			President & CEO 	

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

[Signature Page to
Common Stock Purchase Warrant] 

    	 

    	 

    

 

NOTICE OF EXERCISE

 

To: Safety Quick Lighting & Fans Corp.

 

(1) The undersigned hereby
elects to purchase                     
Warrant Shares of the Company pursuant to the terms of the attached Warrant, and tenders herewith payment of the exercise price
in full, together with all applicable transfer taxes, if any.

 

(2) Payment shall take the
form of (check applicable box):

 

 

	
         

 

     in lawful money of the United States; or

 

 

	
         

 

    the cancellation of such number of Warrant Shares as is necessary, in accordance with the
formula set forth in subsection 3(c), to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable
pursuant to the cashless exercise procedure set forth in subsection 3(c).

 

(3) Please issue a certificate
or certificates representing said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

__________________________________________

 

The Warrant Shares shall
be delivered to the following:

 

__________________________________________

 

__________________________________________

 

__________________________________________

 

__________________________________________

 

(4) Accredited Investor.
The undersigned is an “accredited investor” as defined in Regulation D under the Securities Act of 1933, as amended.

 

 

(PURCHASER)

 

By:_____________________________________

 

Name:_____________________________________

 

Title:_____________________________________

 

Dated:_____________________________________

    	 

    	 

    

			

ASSIGNMENT FORM

 

(To assign the foregoing warrant, execute this
form and supply required information. Do not use this form to exercise the warrant.)

 

FOR VALUE RECEIVED, the
foregoing Warrant and all rights evidenced thereby are hereby assigned to                                        
                                        
   whose address is                                         
                    .

 

			
			Dated:                      ,             
		
	Holder’s Signature		_______________________________________
		
	Holder’s Address:		_______________________________________
		
			_______________________________________
		
			_______________________________________

 

			
	Signature Guaranteed:		
         

         

 

NOTE: The signature to this Assignment Form
must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever,
and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary or other representative
capacity should file proper evidence of authority to assign the foregoing Warrant.

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