Document:

exv10w1

Exhibit 10.1

September 21, 2010          

Peter J. McNierney

Gleacher & Company, Inc.

1290 Avenue of the Americas

New York, New York 10019

Dear Peter:

     In connection with the expiration of the employment agreement between you and Gleacher &
Company, Inc. (the “Company”) dated as of May 15, 2007 (the “Employment Agreement”)
and the rights under Section 5(a) upon a termination of employment due to the expiration of the
Employment Agreement, in order to ensure your continued service with the Company, the Company
desires to enter into this letter agreement (the “Letter”) with you to be effective as of
September 21, 2010 (the “Effective Date”), in full satisfaction of your rights and the
Company’s obligations under the Employment Agreement and the equity awards outstanding as of the
date hereof containing similar terms to those provided under Section 5(a) of the Employment
Agreement.

	1.	 	Treatment of Unvested RSUs and Stock Options. The restricted stock units granted to you
under Section 3(d) of the Employment Agreement and listed on the attached Schedule I (the
“Original RSUs”) and the additional restricted stock units and stock options to
acquire shares of Company common stock granted to you and listed on Schedule II (the
“Subsequent RSUs” and the “Stock Options”, respectively) that are not vested
as of the Effective Date are hereby amended to provide that they are fully vested and
non-forfeitable effective as of the Effective Date. For the avoidance of doubt, the Original
RSUs and Subsequent RSUs will be settled in accordance with their original settlement schedule
and terms.

	2.	 	Severance Payment under Section 5(a)(iv). Upon any termination of your employment following
the Effective Date, you will receive the “Severance Payment” that you would otherwise have
been eligible to receive upon a termination of employment pursuant to Section 5(a)(iv) of the
Employment Agreement calculated as follows: (a) One Million Eight Hundred Thousand Dollars
($1,800,000) less (b) the amount equal to the publicly-traded “fair market value” (based on
the closing sales price of a share of Company common stock on the applicable exchange on the
Effective Date) of one share of

 

 

	 	 	Company common stock multiplied by 600,000. The Severance Payment will be payable in a lump
sum 29 days following your “separation from service” within the meaning of Section 409A of
the Internal Revenue Code, as amended (the “Code”) (or the next business day),
provided that, in the event you are a “specified employee” (within the meaning of Section
409A of the Code as determined in accordance with the methodology established by the Company
as of the date of your separation from service), the Severance Payment will instead be paid
to you on the first business day after the date that is six months following your separation
from service. As a condition to receiving the Severance Payment, you will be required to
execute and deliver to the Company (and not revoke) a general release of claims against the
Company, its affiliated entities and their current and former directors, officers and
employees, in a standard form used by the Company in cases of termination of employment no
later than 21 days following your separation from service.

	3.	 	Termination of Employment without Cause. In the event that following the Effective Date your
employment is terminated by the Company without “Cause” (as defined on Annex A attached
hereto), you will be entitled to the following: (i) the Company will continue to pay you your
annual base salary until the date that is twelve (12) months following your termination of
employment; and (ii) the Company will provide you with the “Continued Benefits” (as defined in
Section 5(c)(ii) of the Employment Agreement) consistent with and subject to the terms,
conditions and limitations set forth in Section 5(c)(ii) of the Employment Agreement. In
addition, upon a termination of your employment by the Company without Cause on or after
January 1, 2011, the Executive Compensation Committee of the Board of Directors of the Company
(the “Board”) will consider in good faith your performance for the portion of the
fiscal year of the Company in which your date of termination occurs (i.e., the 2011 fiscal
year or a later year) in assessing your eligibility for, and the amount (if any) of, a
pro-rata bonus award in respect of such fiscal year under the terms of the applicable Company
annual bonus plan, including any performance goals. You understand and agree that the
opportunity for, and amount of, any such pro-rata bonus award will be in the sole discretion
of the Executive Compensation Committee. Any such pro-rata bonus will be paid at the time
annual bonuses in respect of such year are generally paid to executives of the Company, but in
no event later than two and a half (2-1/2) months following the end of the fiscal year for
which the annual bonus is awarded.

	4.	 	Survival of Certain Employment Agreement Provisions. Notwithstanding the expiration and
termination of the Employment Agreement, the following provisions of the Employment Agreement
will survive and continue in full force and effect (with respect to the provisions referenced
in clause (i) below, only through the period referred to therein) as if set forth herein in
their entirety, with references to “the Executive” referring to “you” and any similar
modifications as are necessary to retain the original meaning and intent of such provisions:
(i) the provisions of the Employment Agreement set forth in Section 5(a)(ii) and 5(c)(i) that
relate to the payment of a pro-rated bonus for the fiscal year in which your termination
occurs will apply solely with respect to the 2010 fiscal year and only if you resign or are
terminated without Cause by the Company prior to the payment of annual bonuses in respect of
the 2010 fiscal year of the Company (i.e., on or

-2-

 

	 	 	about February 15, 2011); and (ii) the restrictive covenants and remedies set forth in
Sections 7, 8 and 9 of the Employment Agreement.

	5.	 	Section 409A. The payments and benefits under this Letter are intended to comply with the
requirements of Section 409A of the Code (“Section 409A”) or an exemption or exclusion
therefrom. Any payments that qualify for the “short-term deferral” exception or another
exception under Section 409A shall be paid under the applicable exception. All payments to be
made upon a termination of employment may only be made upon a “separation from service” within
the meaning of Section 409A. If you are considered a “specified employee” for purposes of
Section 409A (as determined in accordance with the methodology established by the Company as
in effect on your date of termination), any payment that constitutes nonqualified deferred
compensation within the meaning of Section 409A that is otherwise due to you under this Letter
during the six-month period following your separation from service on account of your
separation from service will be accumulated and paid to you on the first business day after
the date that is six months following your separation from service. Any reimbursements or
in-kind benefits provided under this Letter will be provided in accordance with the
requirements of Section 409A, including, where applicable, the requirement that (i) any
reimbursement is for expenses incurred during your lifetime (or any shorter period of time
specified herein); (ii) the amount of expenses eligible for reimbursement, or in-kind benefits
provided, during a calendar year may not affect the expenses eligible for reimbursement, or
in-kind benefits to be provided, in any other calendar year; (iii) the reimbursement of an
eligible expense will be made no later than the last day of the calendar year following the
year in which the expense is incurred, provided that you have submitted an invoice for such
expenses at least thirty (30) days before the end of the calendar year next following the
calendar year in which such fees and expenses were incurred; and (iv) the right to
reimbursement or in-kind benefits is not subject to liquidation or exchange for another
benefit.

	6.	 	Miscellaneous. Notwithstanding any other provision of this Letter, the Company may withhold
from any amounts payable or benefits provided to you, such minimum Federal, state and/or local
taxes as shall be required to be withheld under any applicable law or regulation. Section 13
(entitled “Governing Law”) and Section 21 (entitled “Dispute Resolution”) of your Employment
Agreement will apply to this Letter as if set forth herein. This Letter constitutes the entire
understanding and agreement between you and the Company with regard to all matters addressed
herein. You acknowledge and agree that, except as expressly set forth herein, the Employment
Agreement is terminated and of no further force and effect and the Company has no obligations
thereunder. This Letter may be amended only in writing, signed by the parties hereto.

-3-

 

     If you agree that this Letter appropriately represents our understanding, please sign and
return this Letter, which will become a binding agreement on our receipt.

	 	 	 	 	 
	 	Very truly yours,

Gleacher & Company, Inc.

 	 
	 	By:  	                                                     /s/ Eric J. Gleacher
 	 
	 	 	Name:  	Eric J. Gleacher 	 
	 	 	Title:  	Chief Executive Officer and Chairman
of the Board of Directors 	 
	 

Accepted and agreed as of

September 21, 2010:

	 	 	 

	/s/ Peter J. McNierney

	 	 
	 
	 	 
	Peter J. McNierney
	 	 

-4-

 

Schedule I

Original RSUs Granted under Section 3(d) of the Agreement

	 	 	 	 	 	 	 
	Grant Date	 	# of Shares	 	Vesting Dates	 	Settlement Date
	Recapitalization Date

	 	600,000 
	 	All vested on
September 21, 2010
	 	All to be settled
on September 21,
2010
	June 30, 2008

	 	125,000 
	 	33.3% on each of
June 30, 2009, 2010
and 2011
	 	June 30, 2011
	January 1, 2009

	 	125,000 
	 	33.3% on each of
January 1, 2010,
2011 and 2012
	 	January 1, 2012
	June 30, 2009

	 	125,000 
	 	33.3% on each of
June 30, 2010, 2011
and 2012
	 	June 30, 2012
	January 1, 2010

	 	125,000 
	 	33.3% on each of
January 1, 2011,
2012 and 2013
	 	January 1, 2013

Schedule II

Subsequent RSUs and Stock Options

	 	 	 	 	 	 	 
	Grant Date	 	# of Shares	 	Vesting Dates	 	Settlement Date
	December 18, 2008

	 	600,000 options
	 	33.3% on each of
December 18, 2009,
2010 and 2011
	 	NA
	February 13, 2009

	 	51,652 RSUs
	 	33.3% on each of
February 13, 2010,
2011 and 2012
	 	February 13, 2012
	February 11, 2010

	 	383,529 RSUs
	 	33.3% on each of
February 11, 2011,
2012 and 2013
	 	February 11, 2013

 

 

Annex A

For purposes of the Letter, “Cause” shall mean (i) your conviction of, or plea of guilty or “no
contest” to, any felony; (ii) your conviction of, or plea of guilty or “no contest” to, a violation
of criminal law involving the Company and its business; (iii) your commission of an act of fraud or
theft, or material dishonesty in connection with your performance of duties to the Company; or (iv)
your willful refusal or gross neglect to perform the duties reasonably assigned to you and
consistent with your position with the Company or otherwise to comply with the material terms of
this Letter, which refusal or gross neglect continues for more than fifteen (15) days after you
receive written notice thereof from the Company providing reasonable detail of the asserted refusal
or gross neglect (and which is not due to a physical or mental impairment). In no event shall your
employment be considered to have been terminated for Cause unless and until you receive a copy of a
resolution adopted by the Board finding that, in the good faith opinion of the Board, you are
guilty of acts or omissions constituting Cause, which resolution has been duly adopted by an
affirmative vote of a majority of the Board, excluding you and any individual alleged to have
participated in the acts constituting Cause. Any such vote shall be taken at a meeting of the Board
called and held for such purpose, after reasonable written notice is provided to you setting forth
in reasonable detail the facts and circumstances claimed to provide a basis of termination for
Cause and you are given an opportunity, together with counsel, to be heard before the Board.ex41.htm

Exhibit 4.1

 

Solar Park Initiatives, Inc.

 

THIS WARRANT AND THE SHARES ISSUABLE UPON THE EXERCISE OF THIS WARRANT HAVE NOT BEEN REGIS­TERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.  NEITHER THIS WARRANT NOR ANY OF SUCH SHARES MAY BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE REGISTRA­TION STATEMENT FOR SUCH SECURITIES UNDER SAID ACT OR, AN OPINION OF COUNSEL, IN FORM, SUBSTANCE AND SCOPE, CUSTOMARY FOR OPINIONS OF COUNSEL IN COMPARABLE TRANSACTIONS, THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT OR UNLESS SOLD PURSUANT TO RULE 144 OR REGULATION S UNDER SUCH ACT.

 

Right to Purchase 250,000 Shares of Common Stock, par value $0.001 per share

 

STOCK PURCHASE WARRANT

 

THIS CERTIFIES THAT, for value received, David J. Surette or his/her registered assigns, is entitled to purchase from Solar Park Initiatives, Inc., a Nevada corporation (the “Company”), at any time or from time to time during the period specified in Paragraph 2 hereof, 250,000 fully paid and non-assessable shares of the Company’s Common Stock, par value $0.001 per share (the “Common Stock”), at an exercise price per share equal to $0.35 (the “Exercise Price”).  The term “Warrant Shares,” as used herein, refers to the shares of Common Stock purchasable hereunder.

 

This Warrant is subject to the following terms, provisions, and conditions:

 

1. Manner of Exercise; Issuance of Certificates; Payment for Shares. Subject to the provisions hereof, this Warrant may be exercised by the holder hereof, in whole or in part, by the surrender of this Warrant, together with a completed exercise agreement in the form attached hereto (the “Exercise Agreement”), to the Company during normal business hours on any business day at the Company’s principal executive offices (or such other office or agency of the Company as it may designate by notice to the holder hereof), and upon payment to the Company in cash, by certified or official bank check or by wire transfer for the account of the Company, or by cashless basis calculation of the Exercise Price for the Warrant Shares specified in the Exercise Agreement.  The Warrant Shares so purchased shall be deemed to be issued to the holder hereof or such holder’s designee, as the record owner of such shares, as of the close of business on the date on which this Warrant shall have been surrendered, the completed Exercise Agreement shall have been delivered, and payment shall have been made for such shares as set forth above.  Certificates for the Warrant Shares so purchased, representing the aggregate number of shares specified in the Exercise Agreement, shall be delivered to the holder hereof within a reasonable time, not exceeding ten (10) business days, after this Warrant shall have been so exercised.  If this Warrant shall have been exercised only in part, then, unless this Warrant has expired, the Company shall, at its expense, at the time of delivery of such certificates, deliver to the holder a new Warrant representing the number of shares with respect to which this Warrant shall not then have been exercised.

 

  

1

  

 

2. Period of Exercise.  This Warrant is exercisable at any time or from time to time on or after the date on which this Warrant is issued and delivered and before 6:00 p.m., New York, New York time on the 60 month anniversary of the date of issuance (the “Exercise Period”)

 

3. Certain Agreements of the Company.  The Company hereby covenants and agrees as follows:

 

(a) Shares to be Fully Paid.  All Warrant Shares will, upon issuance in accordance with the terms of this Warrant, be validly issued, fully paid, and nonassessable and free from all taxes, liens, and charges with respect to the issue thereof.

 

(b) Reservation of Shares.  During the Exercise Period, the Company shall at all times have authorized, and reserved for the purpose of issuance upon exercise of this Warrant, a sufficient number of shares of Common Stock to provide for the exercise of this Warrant.

 

(c) Successors and Assigns.  This Warrant will be binding upon any entity succeeding to the Company by merger, consolidation, or acquisition of all or substantially all the Company’s assets.

 

(d)Registration Rights.  If the Company at any time proposes to register any of its securities under the Act, including under an S-1 Registration Statement or otherwise, it will each such time give written notice to all holders of outstanding warrants of its intention so to do and allow piggy-back rights of that Registration.  Upon the written request of a holder or holders of any such warrants given within 30 days after receipt of any such notice, the Company will use its best efforts to cause all shares underlying the exercise of such warrants to be registered under the Act (with the securities which the Company at the time propose to register); provided, however, that the Company may, as a condition precedent to its effective such registration, require each Holder to agree with the Company and the managing underwriter or underwriters of the offering to be made by the Company in connection with such registration that such Holder will not sell any securities of the same class or convertible into the same class as those registered by the Company (including any class into which the securities registered by the Company are convertible) for such reasonable period after such registration becomes effective (not exceeding 30 days) as shall then be specified in writing by such underwriter or underwriters if in the opinion of such underwriter or underwriters the Company's offering would be materially adversely affected in the absence of such an agreement.  All expenses incurred by the Company in complying with this Section, including without limitation all registration and filing fees, listing fees, printing expenses, fees and disbursements of all independent accountants, or counsel for the Company and the expense of any special audits incident to or required by any such registration and the expenses of complying with the securities or blue sky laws of any jurisdiction shall be paid by the Company.

 

  

2

  

4. Issue Tax.  The issuance of certificates for Warrant Shares upon the exercise of this Warrant shall be made without charge to the holder of this Warrant or such shares for any issuance tax or other costs in respect thereof, provided that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of any certificate in a name other than the holder of this Warrant.

 

5. No Rights or Liabilities as a Shareholder.  This Warrant shall not entitle the holder hereof to any voting rights or other rights as a shareholder of the Company.  No provision of this Warrant, in the absence of affirmative action by the holder hereof to purchase Warrant Shares, and no mere enumeration herein of the rights or privileges of the holder hereof, shall give rise to any liability of such holder for the Exercise Price or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

 

6. Transfer, Exchange, and Replacement of Warrant. 

 

(a) Restriction on Transfer.  This Warrant and the rights granted to the holder hereof are transferable, in whole or in part, upon surrender of this Warrant, together with a properly executed assignment in the form attached hereto, at the office or agency of the Company, provided, however, that any transfer or assignment shall be subject to the conditions set forth in Paragraph 6(f) hereof.  Until due presentment for registration of transfer on the books of the Company, the Company may treat the registered holder hereof as the owner and holder hereof for all purposes, and the Company shall not be affected by any notice to the contrary.

 

(b) Warrant Exchangeable for Different Denominations.  This Warrant is exchangeable, upon the surrender hereof by the holder hereof at the office or agency of the Company, for new Warrants of like tenor representing in the aggregate the right to purchase the number of shares of Common Stock which may be purchased hereunder, each of such new Warrants to represent the right to purchase such number of shares as shall be designated by the holder hereof at the time of such surrender.

 

(c) Replacement of Warrant.  Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction, or mutilation of this Warrant and, in the case of any such loss, theft, or destruc­tion, upon delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company, or, in the case of any such mutilation, upon surrender and cancellation of this Warrant, the Company, at its expense, will execute and deliver, in lieu thereof, a new Warrant of like tenor.

 

(d) Cancellation; Payment of Expenses.  Upon the surrender of this Warrant in connection with any transfer, exchange, or replacement as provided in this Paragraph 6, this Warrant shall be promptly canceled by the Company.  The Company shall pay all taxes (other than securities transfer taxes) and all other expenses (other than legal expenses, if any, incurred by the holder or transferees) and charges payable in connection with the preparation, execution, and delivery of Warrants pursuant to this Paragraph 6.

 

  

3

  

 

(e) Register.  The Company shall maintain, at its principal executive offices (or such other office or agency of the Company as it may designate by notice to the holder hereof), a register for this Warrant, in which the Company shall record the name and address of the person in whose name this Warrant has been issued, as well as the name and address of each transferee and each prior owner of this Warrant.

 

(f) Exercise or Transfer Without Registration.  If, at the time of the surrender of this Warrant in connection with any exercise, transfer, or exchange of this Warrant, this Warrant (or, in the case of any exercise, the Warrant Shares issuable hereunder), shall not be registered under the Securities Act of 1933, as amended (the “Securities Act”) and under applicable state securities or blue sky laws, the Company may require, as a condition of allowing such exercise, transfer, or exchange, (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 and counsel are acceptable to the Company, to the effect that such exercise, transfer, or exchange may be made without registration under said 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; provided that no such opinion, letter or status as an “accredited investor” shall be required in connection with a transfer pursuant to Rule 144 under the Securities Act.  The first holder of this Warrant, by taking and holding the same, represents to the Company that such holder is acquiring this Warrant for investment and not with a view to the distribution thereof.  In no event shall the Holder be permitted to assign the Warrant unless provided with express written consent by the Company.

 

7. Notices.  All notices, requests, and other communications required or permitted to be given or delivered hereunder to the holder of this Warrant shall be in writing, and shall be personally delivered, or shall be sent by certified or registered mail or by recognized overnight mail courier, postage prepaid and addressed, to such holder at the address shown for such holder on the books of the Company, or at such other address as shall have been furnished to the Company by notice from such holder.  All notices, requests, and other communications required or permitted to be given or delivered hereunder to the Company shall be in writing, and shall be personally delivered, or shall be sent by certified or registered mail or by recognized overnight mail courier, postage prepaid and addressed, to the office of the Company at the address set forth in the Purchase Agreement, or at such other address as shall have been furnished to the holder of this Warrant by notice from the Company.  Any such notice, request, or other communication may be sent by facsimile, but shall in such case be subsequently confirmed by a writing personally delivered or sent by certified or registered mail or by recognized overnight mail courier as provided above.  All notices, requests, and other communications shall be deemed to have been given either at the time of the receipt thereof by the person entitled to re­ceive such notice at the address of such person for purposes of this Paragraph 8, or, if mailed by registered or certified mail or with a recognized overnight mail courier upon deposit with the United States Post Office or such overnight mail courier, if postage is prepaid and the mailing is properly addressed, as the case may be.

 

  

4

  

 

8. Governing Law.  THIS WARRANT SHALL BE ENFORCED, GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF FLORIDA APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICT OF LAWS.  THE PARTIES HERETO HEREBY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE UNITED STATES FEDERAL COURTS LOCATED IN OR NEAR JACKSONVILLE, FLORIDA WITH RESPECT TO ANY DISPUTE ARISING UNDER THIS WARRANT, THE AGREEMENTS ENTERED INTO IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. BOTH PARTIES IRREVOCABLY WAIVE THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH SUIT OR PROCEEDING.  BOTH PARTIES FURTHER AGREE THAT SERVICE OF PROCESS UPON A PARTY MAILED BY FIRST CLASS MAIL SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON THE PARTY IN ANY SUCH SUIT OR PROCEEDING.  NOTHING HEREIN SHALL AFFECT EITHER PARTY’S RIGHT TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY LAW.  BOTH PARTIES AGREE THAT A FINAL NON-APPEALABLE JUDGMENT IN ANY SUCH SUIT OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON SUCH JUDGMENT OR IN ANY OTHER LAWFUL MANNER.  THE PARTY WHICH DOES NOT PREVAIL IN ANY DISPUTE ARISING UNDER THIS WARRANT SHALL BE RESPONSIBLE FOR ALL FEES AND EXPENSES, INCLUDING ATTORNEYS’ FEES, INCURRED BY THE PREVAILING PARTY IN CONNECTION WITH SUCH DISPUTE.

 

10.Miscellaneous.

 

(g) Amendments.  This Warrant and any provision hereof may only be amended by an instrument in writing signed by the Company and the holder hereof.

 

(h) Descriptive Headings.  The descriptive headings of the several paragraphs of this Warrant are in­serted for purposes of reference only, and shall not affect the meaning or construction of any of the provisions hereof.

 

(i) Remedies.  The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the holder, by vitiating the intent and purpose of the transaction contemplated hereby.  Accordingly, the Company acknowledges that the remedy at law for a breach of its obligations under this Warrant will be inadequate and agrees, in the event of a breach or threatened breach by the Company of the provisions of this Warrant, that the holder shall be entitled, in addition to all other available remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any breach of this Warrant and to enforce specifically the terms and provisions thereof, without the necessity of showing economic loss and without any bond or other security being required.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

 

 

  

5

  

 

IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly authorized director.

 

 

	 	SOLAR PARK INITIATIVES, INC.	 
	 	 	 	 
	 	
By: 

	/s/ David Fann	 
	 	 	Name: David Fann	 
	 	 	Title: Chairman and Director	 
	 	 	 	 

 

Dated as of September 20, 2010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

6

  

 

FORM OF EXERCISE AGREEMENT

 

 

Dated:  ________ __, 20__

 

 

To:           ______________________

 

 

 

The undersigned, pursuant to the provisions set forth in the within Warrant, hereby agrees to purchase ________ shares of Common Stock covered by such Warrant, and makes pay­ment herewith in full therefor at the price per share provided by such Warrant in cash or by certified or official bank check in the amount of equal to $_________.  Please issue a certificate or certifi­cates for such shares of Common Stock in the name of and pay any cash for any fractional share to:

 

 

	 	 	 Name:	______________________________
	 	 	 Signature:	 
	 	 	 	 
	 	 	 	 
	 	 	 Address:	______________________________
	 	 	 	______________________________

                                                                       

	
  

	
Note:

	
The above signature should correspond exactly with the name on the face of the within Warrant, if applicable.

 

  

7

  

FORM OF ASSIGNMENT

 

 

 

FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers all the rights of the undersigned under the within Warrant, with respect to the number of shares of Common Stock covered thereby set forth hereinbelow, to:

 

	Name of Assignee	Address	No of Shares
	 	 	 
	 	 	 

 

 

                                                    

, and hereby irrevocably constitutes and appoints ___________________________________ as agent and attorney-in-fact to trans­fer said Warrant on the books of the within-named corporation, with full power of substitution in the premises.

 

 

Dated:           ________ __, 20__

 

 

 

 

	In the presence of:	 	 	______________________________
	 	 	 Name:	______________________________
	 	 	 Signature:	 
	 	 	 	 
	 	 	 Title of Signing Officer or Agent (if any):
	 	 	 	 
	 	 	 	______________________________
	 	 	 	 
	 	 	 Address:	______________________________
	 	 	 	______________________________

                                                                       

	
  

	
Note:

	
The above signature should correspond exactly with the name on the face of the within Warrant, if applicable.

 

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00178-of-00352.parquet"}]]