Document:

EX-10.1

 AS OF 4/26/2013 

Exhibit 10.1 
 FORM OF
INDEMNIFICATION AGREEMENT 
 RTI International Metal, Inc. has entered into an Indemnification Agreement in the form attached with each of
the individuals listed below, effective as of the date set forth opposite such individual’s name. 
  

					
	 Name and Title
	  	Date	 
	 Daniel I. Booker, Director
	  	 	May 6, 2005	  
		
	 Ronald L. Gallatin, Director
	  	 	May 6, 2005	  
		
	 Robert M. Hernandez, Director
	  	 	May 6, 2005	  
		
	 Edith E. Holiday, Director
	  	 	May 6, 2005	  
		
	 Jerry Howard, Director
	  	 	April 26, 2013	  
		
	 Bryan T. Moss, Director
	  	 	June 1, 2008	  
		
	 Rokus L. van Iperen, Director
	  	 	July 28, 2011	  
		
	 Mario Longhi, Director
	  	 	April 26, 2013	  
		
	 James A. Williams, Director
	  	 	August 7, 2005	  
		
	 Dawne S. Hickton, Vice Chair, President & Chief Executive Officer and Director
	  	 	May 6, 2005	  
		
	 William T. Hull, Senior Vice President & Chief Financial Officer
	  	 	November 9, 2005	  
		
	 James L. McCarley, Executive Vice President – Operations
	  	 	May 17, 2010	  
		
	 Patricia A. O’Connell, Executive Vice President – Commercial
	  	 	February 21, 2013	  
		
	 William F. Strome, Senior Vice President – Finance & Administration
	  	 	November 19, 2007	  
		
	 Chad Whalen, General Counsel & Senior Vice President – Government Relations
	  	 	February 19, 2007	  
		
	 Loretta L. Benec, Assistant General Counsel & Secretary
	  	 	April 26, 2013EX-10.2

 Exhibit 10.2 

AMENDMENT TO THE 
 RTI
INTERNATIONAL METALS, INC. EXCESS BENEFITS PLAN 
 RTI International Metals, Inc. (the “Company”) acting pursuant to the amendment authority
of Section 6.01 of the RTI International Metals, Inc. Excess Benefits Plan (the “Plan”), hereby amends such Plan to provide for the governance structure set forth in the RTI International Metals, Inc. Employee Benefits Committee
Charter which was adopted by the Company on October 26, 2012 to be effective January 1, 2013, as follows. 
 1. Plan Section 2.01 is amended
by restating such Section as follows: 
 ““Administrator” shall mean the Employee Benefits Committee as described in the Charter.” 

2. The following new section is added to the Plan: 
  

	“2.18	“Charter” shall mean the RTI International Metals, Inc. Employee Benefits Committee Charter, which was adopted on October 26, 2012 by the Board, and as subsequently amended from time to time and which is
incorporated by reference herein.” 

 3. The following new Section 3.04 is added to the Plan: 

 

	“3.04	Membership, Procedures, Rules and Responsibilities. This Section 3.04 shall be effective on and after January 1, 2013 to implement the provisions of the Charter. The Administrator shall be the Employee
Benefits Committee as described under the Charter. The initial appointment and the selection of new and replacement of the Employee Benefits Committee members shall be made as described under the Charter. The duties, responsibilities, procedures and
rules of the Employee Benefits Committee are described in the Charter and incorporated by reference herein. Notwithstanding any contrary Plan provision, the provisions of the Charter shall control with respect to the administration, operation,
amendment or termination of the Plan. The Employee Benefits Committee shall rely upon the records of the Company with respect to any factual matters dealing with the employment of an Eligible Employee.” 

4. Plan Section 6.01 is amended by adding the following sentence at the end of such Section: 

“Notwithstanding any contrary provision in this Section 6.01, effective January 1, 2013, the Charter describes the Plan amendment authority
reserved by the Company and that which is delegated to the Administrator.” 

 5. Plan Section 6.02 is amended by adding the following sentence at the end of such Section: 

“Notwithstanding any contrary provision in this Section 6.02, effective January 1, 2013, the Charter describes the Plan termination authority
reserved by the Company and that which is delegated to the Administrator.” 
 IN WITNESS WHEREOF, this Amendment is hereby adopted on this 23rd day of July, 2013 and to be effective on the date first written above. 
 Employee Benefits Committee
for the RTI International Metals, Inc. Excess Benefits Plan 
  

											
	By:	 	 /s/ Jeffery J. Smith
	 		 		 	By:	 	 /s/ David Z. Paull

		 	Jeffery J. Smith	 		 		 		 	David Z. Paull
						
	By:	 	 /s/ Michael B. Shaughnessy
	 		 		 	By:	 	 /s/ Brian M. Vondran

		 	Michael B. Shaughnessy	 		 		 		 	Brian M. Vondran
						
	By:	 	 /s/ Loretta L. Benec
	 		 		 		 	
		 	Loretta L. Benec	 		 		 		 	
					
	RTI International Metals, Inc.	 		 		 		 	
						
	By:	 	 /s/ Chad Whalen
	 		 		 		 	
	Its:	 	General CounselEX-10.3

 Exhibit 10.3 

AMENDMENT TO THE 
 RTI
INTERNATIONAL METALS, INC. SUPPLEMENTAL PENSION PROGRAM 
 RTI International Metals, Inc. (the “Company”) acting pursuant to the amendment
authority of Section 6.01 of the RTI International Metals, Inc. Supplemental Pension Program (the “Plan”), hereby amends such Plan to provide for the governance structure set forth in the RTI International Metals, Inc. Employee
Benefits Committee Charter which was adopted by the Company on October 26, 2012 to be effective January 1, 2013, as follows. 
 1. Plan
Section 2.01 is amended by restating such Section as follows: 
 ““Administrator” shall mean the Employee Benefits Committee as
described in the Charter.” 
 2. The following new section is added to the Plan: 

 

	“2.19	“Charter” shall mean the RTI International Metals, Inc. Employee Benefits Committee Charter, which was adopted on October 26, 2012 by the Board, and as subsequently amended from time to time and which is
incorporated by reference herein.” 

 3. The following new Section 3.04 is added to the Plan: 

 

	“3.04	Membership, Procedures, Rules and Responsibilities. This Section 3.04 shall be effective on and after January 1, 2013 to implement the provisions of the Charter. The Administrator shall be the Employee
Benefits Committee as described under the Charter. The initial appointment and the selection of new and replacement of the Employee Benefits Committee members shall be made as described under the Charter. The duties, responsibilities, procedures and
rules of the Employee Benefits Committee are described in the Charter and incorporated by reference herein. Notwithstanding any contrary Plan provision, the provisions of the Charter shall control with respect to the administration, operation,
amendment or termination of the Plan. The Employee Benefits Committee shall rely upon the records of the Company with respect to any factual matters dealing with the employment of an Eligible Employee.” 

4. Plan Section 6.01 is amended by adding the following sentence at the end of such Section: 

“Notwithstanding any contrary provision in this Section 6.01, effective January 1, 2013, the Charter describes the Plan amendment authority
reserved by the Company and that which is delegated to the Administrator.” 

 5. Plan Section 6.02 is amended by adding the following sentence at the end of such Section: 

“Notwithstanding any contrary provision in this Section 6.02, effective January 1, 2013, the Charter describes the Plan termination authority
reserved by the Company and that which is delegated to the Administrator.” 
 IN WITNESS WHEREOF, this Amendment is hereby adopted on this 23rd day of July, 2013 and to be effective on the date first written above. 
 Employee Benefits Committee
for the RTI International Metals, Inc. Supplemental Pension Program 
  

									
	By:	 	 /s/ Jeffery J. Smith
	 		 	By:	 	 /s/ David Z. Paull

		 	Jeffery J. Smith	 		 		 	David Z. Paull
					
	By:	 	 /s/ Michael B. Shaughnessy
	 		 	By:	 	 /s/ Brian M. Vondran

		 	Michael B. Shaughnessy	 		 		 	Brian M. Vondran
					
	By:	 	 /s/ Loretta L. Benec
	 		 		 	
		 	Loretta L. Benec	 		 		 	
				
	RTI International Metals, Inc.	 		 		 	
					
	By:	 	 /s/ Chad Whalen
	 		 		 	
	Its: General CounselEX-4.01

 Exhibit 4.01 

NEITHER THIS WARRANT NOR ANY OF THE SECURITIES ISSUABLE HEREUNDER HAVE BEEN REGISTERED UNDER THE SECURITIES ACT (AS DEFINED BELOW), OR APPLICABLE STATE
SECURITIES LAWS, AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT, OR (B) AN OPINION OF COUNSEL, IN A GENERALLY
ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT (II) UNLESS SOLD OR TRANSFERRED TO A “QUALIFIED INSTITUTIONAL BUYER” WITHIN THE MEANING OF RULE 144A UNDER THE SECURITIES ACT OR (III) UNLESS SOLD PURSUANT TO RULE 144 OR
RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THESE SECURITIES. 

GREENHUNTER RESOURCES, INC. 

COMMON STOCK WARRANT 

THIS CERTIFIES THAT, for value received, the Holder is entitled to purchase, and GreenHunter Resources, Inc., a Delaware corporation (the
“Company”), promises and agrees to sell and issue to the Holder, at any time, or from time to time, during the Exercise Period, up to
                     shares of Common Stock, par value $0.001 per share (the “Common Stock”), of the Company, at the Exercise Price,
subject to the provisions and upon the terms and conditions hereinafter set forth. This Warrant is one of the Unit Warrants issued in the Offering. 
 1.
Definitions of Certain Terms. In addition to the terms defined elsewhere in this Warrant, the following terms have the following meanings: 

(a) “Business Day” means a day on which banks are open for business in the city of New York. 

(b) “Commission” means the U.S. Securities and Exchange Commission. 

(c) “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder. 
 (d) “Exercise Price” means the price at which the Holder may purchase one share of Common Stock upon exercise
of this Warrant as determined from time to time pursuant to the provisions hereof. The initial Exercise Price is $2.25 per share, subject to adjustment as provided herein. 

(e) “Expiration Date” means September     , 2018. 

(f) “Holder” means a record holder of the Warrant or shares of Common Stock obtained or obtainable upon exercise of the
Warrant, as applicable. The initial Holder is [                    ]. 

  

 (g) “Issue Date” means
                         , 2013. 

(h) “Offering” shall have the meaning ascribed to such term in the Purchase Agreement and is incorporated herein by this
reference. 
 (i) “Preferred Stock” means the 10% Series C Cumulative Preferred Stock, par value $0.001 per share, of the
Company. 
 (j) “Purchase Agreement” means that certain Securities Purchase Agreement, dated as of the Issue Date, between
the Company and the purchasers of Units specified therein. 
 (k) “Registration Rights Agreement” means that certain
Registration Rights Agreement, dated as of the Issue Date, between the Company and the purchasers of the Units specified therein. 
 (l)
“Securities Act” means the Securities Act of 1933, as amended. 
 (m) “Unit” means a unit consisting of
(i) shares of Preferred Stock, and (ii) a warrant to purchase shares of Common Stock, issued pursuant to the terms of the Purchase Agreement. 

(n) “Unit Warrants” means, collectively, the warrants issued to the investors in the Offering, as more fully described in the
Purchase Agreement. 
 (o) “Warrant” means this warrant and any warrant or warrants hereafter issued as a consequence of the
exercise or transfer of this warrant in whole or in part. 
 2. Exercise of Warrant. 

(a) Manner of Exercise. This Warrant may be exercised, in whole or in part, at any time or from time to time, during the period
commencing as of 9:30:01 a.m., New York time, on the Issue Date and ending as of 5:30 p.m., New York time, on the Expiration Date (the “Exercise Period”), for
                     fully paid and non-assessable shares of Common Stock (the “Warrant Shares”), for an exercise price per share equal to
the Exercise Price, by delivery to the Company at its headquarters, or at such other place as is designated in writing by the Company, of: 

(1) a duly executed Notice of Exercise, substantially in the form of Attachment I attached hereto and incorporated by reference herein;

 (2) this Warrant; and 
 (3)
payment of an amount in cash equal to the product of the Exercise Price multiplied by the number of Warrant Shares being purchased upon such exercise, with such payment being in the form of a wire transfer of funds to an account designated in
writing by the Company. 
 The date on which the Company receives the Notice of Exercise, this Warrant, and the Exercise Price payable with
respect to the Warrant Shares being purchased shall be deemed to be the date of exercise (the “Date of Exercise”). 

  
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 (b) Delivery of Certificates. Subject to the provisions below, upon receipt of the Notice
of Exercise, the Company shall immediately instruct its transfer agent to prepare certificates for the Warrant Shares to be received by the Holder upon such exercise. The Company shall, at its own cost and expense, cause the transfer agent to
deliver such certificates to the Holder (or to such other nominee as may be designated by the Holder) within three Business Days following the Date of Exercise (the “Delivery Period”). The Holder shall be deemed for all corporate
purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised as of the Date of Exercise, irrespective of the date such certificates are actually delivered by the transfer agent to the
Holder or are credited to the Holder’s Depository Trust Company (“DTC”) account, as the case may be. If fewer than all of the Warrant Shares purchasable under the Warrant are purchased, the Company will, upon such partial
exercise, execute and deliver to the Holder a new Warrant (dated as of the Issue Date), in the same form and tenor as this Warrant, evidencing that portion of the Warrant not exercised. 

(c) Delivery of Electronic Shares. In lieu of delivering physical certificates representing the Warrant Shares issuable upon exercise
(provided that the transfer agent is participating in the DTC Fast Automated Securities Transfer program and provided further that the Holder provides the transfer agent with information required in order to issue such Warrant Shares to the Holder
electronically), upon the request of the Holder as set forth in the Notice of Exercise, but only if the Warrant Shares may be issued without restrictive legends, the Company shall cause its transfer agent to electronically transmit, within the
Delivery Period, the Warrant Shares issuable upon exercise to the Holder by crediting Holder’s account with DTC through its Deposit Withdrawal Agent Commission system. Any delivery not effected by electronic transmission shall be effected by
delivery of physical certificates. 
 (d) No Fractional Shares. If a fractional share of Warrant Shares would, but for the provisions
of this Section 2(d), be issuable upon exercise of the rights represented by this Warrant, the Company shall (i) round a half share or greater to be delivered to Holder up to the next whole share and (ii) round a less-than-half
share to be delivered to Holder down to the nearest whole share. 
 (e) Buy-In. Notwithstanding anything else to the contrary
contained herein, in addition to any other rights available to the Holder, if the Company fails to cause its transfer agent to transmit to the Holder a certificate or certificates representing the applicable Warrant Shares purchased upon exercise
hereof or credit the Holder’s balance account with DTC, as applicable, on or before the end of the Delivery Period (other than a failure caused by any incorrect or incomplete information provided by Holder to the Company hereunder), and if
after such date the Holder purchases shares of Common Stock to deliver in satisfaction of a sale by the Holder of Warrant Shares that the Holder anticipated receiving from the Company upon exercise of this Warrant (a “Buy-In”), then
the Company shall, within three Business Days after the Holder’s request, (1) pay cash to the Holder the amount by which (x) the Holder’s total purchase price (including commissions, if any) for the shares of Common Stock so
purchased exceeds (y) the amount obtained by multiplying (A) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue, by (B) the price at which the sell order giving
rise to such purchase obligation was executed, and (2) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares 

  
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for which such exercise was not honored, or deliver to the Holder the number of Warrant Shares that would have been issued had the Company timely complied with its exercise and delivery
obligations hereunder. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In, together with applicable confirmations and other evidence reasonably requested by the Company. Nothing
herein shall limit the 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 the Warrant Shares as required pursuant to the terms hereof. 
 (f) No Charge to
Holder Upon Issuance. The issuance of Warrant Shares upon exercise of this Warrant shall be made without charge to Holder for any issuance tax in respect thereof or other cost incurred by the Company in connection with such exercise and the
related issuance of Warrant Shares (other than any transfer taxes resulting from the issuance of Warrant Shares to any person other than Holder). 

(g) Reservation of Shares. During the Exercise Period, the Company shall reserve and keep available out of its authorized but unissued
Common Stock such number of Warrant Shares issuable upon the full exercise of this Warrant. All Warrant Shares which are so issuable shall, when issued and upon the payment of the applicable Exercise Price, be duly and validly issued, fully paid and
nonassessable and free from all taxes, liens and charges and not subject to the pre-emptive rights of any holder of Common Stock or any other class or series of stock of the Company. During the Exercise Period, the Company shall not take any action
which would cause the number of authorized but unissued Common Stock to be less than the number of such shares required to be reserved hereunder for issuance upon exercise of this Warrant. 

(h) Limitations on Exercises. Notwithstanding anything to the contrary contained in this Warrant, this Warrant shall not be exercisable
by the Holder hereof to the extent (but only to the extent) that the Holder or any of its affiliates would beneficially own in excess of 9.98% (the “Maximum Percentage”) of the Common Stock. To the extent the above limitation
applies, the determination of whether this Warrant shall be exercisable (vis-à-vis other convertible, exercisable or exchangeable securities owned by the Holder or any of its affiliates) and of which such securities shall be exercisable (as
among all such securities owned by the Holder) shall, subject to such Maximum Percentage limitation, be determined on the basis of the first submission to the Company for conversion, exercise or exchange (as the case may be). No prior inability to
exercise this Warrant pursuant to this paragraph shall have any effect on the applicability of the provisions of this paragraph with respect to any subsequent determination of exercisability. For the purposes of this paragraph, beneficial ownership
and all determinations and calculations (including, without limitation, with respect to calculations of percentage ownership) shall be determined in accordance with Section 13(d) of the Exchange Act. The limitations contained in this paragraph
shall apply to a successor Holder of this Warrant. For any reason at any time, upon the written or oral request of the Holder, the Company shall within one (1) Business Day confirm orally and in writing to the Holder the number of shares of
Common Stock then outstanding, including by virtue of any prior conversion or exercise of convertible or exercisable securities into Common Stock. Notwithstanding anything else set forth herein, in no event shall this Warrant be exercisable by the
Holder to the extent that the Holder or any of its affiliates would beneficially own in excess of 19.99% of the number of shares of the Company’s Common Stock outstanding as of the Issue Date unless any issuances in excess of the foregoing
limitation are approved by the Company’s common stockholders. 

  
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 3. Adjustments in Certain Events. The number, class, and price of Warrant Shares for which this Warrant
may be exercised are subject to adjustment from time to time upon the happening of certain events as follows: 
 (a) Subdivisions,
Combinations and Other Issuances. If the outstanding shares of the Company’s Common Stock are divided into a greater number of shares, by forward stock split or otherwise, or a dividend in stock is paid on the Common Stock, then the number
of shares of Warrant Shares for which the Warrant is then exercisable will be proportionately increased and the Exercise Price will be proportionately reduced. Conversely, if the outstanding shares of Common Stock are combined into a smaller number
of shares of Common Stock, by reverse stock split or otherwise, then the number of Warrant Shares for which the Warrant is then exercisable will be proportionately reduced and the Exercise Price will be proportionately increased. The increases and
reductions provided for in this Section 3(a) will be made with the intent and, as nearly as practicable, the effect that neither the percentage of the total equity of the Company obtainable on exercise of the Warrants nor the price
payable for such percentage upon such exercise will be affected by any event described in this Section 3(a). 
 (b) Merger,
Consolidation, Reclassification, Reorganization, Etc. In case of any change in the Common Stock through merger, consolidation, reclassification, reorganization, partial or complete liquidation, purchase of all or substantially all the assets of
the Company, or other change in the capital structure of the Company, then, as a condition of such change, lawful and adequate provision will be made so that the Holder will have the right thereafter to receive upon the exercise of the Warrant the
kind and amount of shares of stock or other securities or property to which he would have been entitled if, immediately prior to such event, he had held the number of Warrant Shares obtainable upon the exercise of the Warrant. In any such case,
appropriate adjustment will be made in the application of the provisions set forth herein with respect to the rights and interest thereafter of the Holder, to the end that the provisions set forth herein will thereafter be applicable, as nearly as
reasonably may be, in relation to any shares of stock or other property thereafter deliverable upon the exercise of the Warrant. The Company will not permit any change in its capital structure to occur unless the issuer of the shares of stock or
other securities to be received by the Holder, if not the Company, agrees to be bound by and comply with the provisions of this Warrant. 

(c) Notice of Record Date, Etc. In the event the Company shall propose to take any action of the types requiring an adjustment pursuant
to this Section 3 or a dissolution, liquidation or winding up of the Company shall be proposed, the Company shall give notice to Holder as provided in Section 6 below, which notice shall specify the record date, if any, with
respect to any such action and the date on which such action is to take place. Such notice shall also set forth such facts with respect thereto as shall be reasonably necessary to indicate the effect of such action (to the extent such effect may be
known at the date of such notice) on the Exercise Price and the number, kind or class of shares or other securities or property which shall be deliverable or purchasable upon the occurrence of such action or deliverable upon the exercise of the
Warrant. In the case of any action which will require the fixing of a record date, unless otherwise provided in this Warrant, such notice shall be given at least twenty (20) days prior to the date so fixed, and in case of all other action, such
notice shall be given at least thirty (30) days prior to the taking of such proposed action. 

  
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 (d) If securities of the Company or securities of any subsidiary of the Company are distributed
pro rata to holders of Common Stock, such number of securities will be distributed to the Holder or its assignee upon exercise of its rights hereunder as such Holder or assignee would have been entitled to if this Warrant had been exercised prior to
the record date for such distribution. The provisions with respect to adjustment of the Common Stock provided in this Section 3 will also apply to the securities to which the Holder or its assignee is entitled under this
Section 3(d). 
 4. No Rights as a Stockholder. Except as otherwise provided herein, the Holder will not, by virtue of ownership of the
Warrant, be entitled to any rights of a stockholder of the Company but will, upon written request to the Company, be entitled to receive such quarterly or annual reports as the Company distributes to its stockholders. 

5. Restrictions on Transfer; Legends. 

(a) Registration or Exemption Required. Assuming the accuracy of the representations and warranties of the Holder contained in the
Purchase Agreement, this Warrant has been issued in a transaction exempt from the registration requirements of the Securities Act by virtue of Regulation D and exempt from state registration or qualification under applicable state laws. Neither this
Warrant nor the Warrant Shares may be pledged, transferred, sold or assigned except pursuant to an effective registration statement or an exemption to the registration requirements of the Securities Act and applicable state laws. If, at the time of
the surrender of this Warrant in connection with any transfer of this Warrant, the transfer of this Warrant shall not be registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or
blue sky laws, 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 promulgated under the
Securities Act or a “qualified institutional buyer” as defined in Rule 144A(a) under the Securities Act. 
 (b) Restrictive
Legend. The Holder understands that until such time as the Warrant Shares have been registered under the Securities Act as contemplated by the Registration Rights Agreement, or otherwise may be sold pursuant to Rule 144 under the Securities Act
or an exemption from registration under the Securities Act without any restriction as to the number of securities as of a particular date that can then be immediately sold, this Warrant and the Warrant Shares, as applicable, shall bear a restrictive
legend in substantially the form set forth on the cover page of this Warrant (and a stop-transfer order may be placed against transfer of the certificates for such securities). 

  
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 (c) Removal of Restrictive Legends. The certificates evidencing the Warrant Shares shall
not contain any legend restricting the transfer thereof: (A) while a registration statement (including a Registration Statement, as defined in the Registration Rights Agreement) covering the sale or resale of the Warrant Shares is effective
under the Securities Act, or (B) following any sale of such Warrant Shares pursuant to Rule 144, or (C) if such Warrant Shares are eligible for sale under Rule 144(b)(1), or (D) if such legend is not required under applicable
requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) and the Company shall have received an opinion of counsel to the Holder in form reasonably acceptable to the Company to
such effect (collectively, the “Unrestricted Conditions”). The Company shall cause its counsel to issue a legal opinion to its transfer agent if required by the transfer agent to effect the issuance of the Warrant Shares, as
applicable, without a restrictive legend or removal of the legend hereunder. The Company agrees that at such time as the Unrestricted Conditions are met, it will, no later than three (3) Trading Days following the delivery by the Holder to the
Company or the transfer agent of a certificate representing Warrant Shares, issued with a restrictive legend, deliver or cause to be delivered to such Holder a certificate (or electronic transfer) representing such Warrant Shares that is free from
all restrictive and other legends. 
 6. Notices; Adjustments. 

(i) All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal delivery to
the party to be notified; (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, and if not, then on the next business day; (iii) two (2) Business Days after having been sent by
registered or certified mail, return receipt requested, postage prepaid; or (iv) one (1) Business Day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All
communications shall be sent to the Company or to Holder, as applicable, at the respective addresses set forth on the signature page to the Purchase Agreement or at such other address(es) as they may designate, respectively, by ten (10) days
advance written notice to the other party hereto. 
 (ii) Upon the occurrence of any adjustments pursuant to Section 3 hereof, the
Company at its expense shall, as promptly as reasonably practicable but in any event not later than 10 days thereafter, compute such adjustment in accordance with the terms hereof and furnish to Holder a certificate setting forth such adjustment and
showing in detail the facts upon which such adjustment is based. 
 7. Non-Circumvention. The Company hereby covenants and agrees that the Company
will not, by amendment of its certificate of incorporation, bylaws or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities, or any other action, avoid or seek to avoid
the observance or performance of any of the terms of this Warrant, and will at all times in good faith carry out all the provisions of this Warrant and take all action as may be reasonably required to protect the rights of the Holder. 

8. Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of New York, without regard to conflict of
law principles, and notwithstanding the fact that one or more counterparts hereof may be executed outside of the state, or one or more of the obligations of the parties hereunder are to be performed outside of the state. 

  
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 9. Loss, Theft, Destruction or Mutilation of Warrant. Upon receipt by the Company of evidence reasonably
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant, and, in the case of loss, theft, or destruction, of indemnity reasonably satisfactory to it, and, if mutilated, upon surrender and cancellation of this Warrant, the
Company will execute and deliver a new Warrant, having terms and conditions identical to this Warrant, in lieu hereof. 
 10. Modification and
Waiver. The Warrant and any provision hereof may be amended, waived, discharged or terminated only by an instrument in writing signed by the Company and the Holder of the Warrant. 

11. Successors. This Warrant shall be binding and inure to the benefit of the parties and their respective successors and assigns hereunder; provided
that this Warrant may be assigned by Holder only in compliance with the conditions specified in and in accordance with all of the terms of this Warrant. This Warrant does not create and shall not be construed as creating any rights enforceable by
any other person or corporation. 
 12. Headings. The headings used in this Warrant are used for convenience only and are not to be considered in
construing or interpreting this Warrant. 
 13. Saturdays, Sundays, Holidays. 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 or a Sunday or shall be a legal holiday in the State of New York, then such action may be taken or such right may be exercised on the next succeeding day not a legal
holiday. 
 14. Severability. If any provision of this Warrant shall be held to be invalid or unenforceable, such invalidity or unenforceability
shall not affect any other provisions of this Warrant. 
 15. Execution and Counterparts. This Warrant may be executed in any number of counterparts,
each of which when so executed and delivered shall be deemed an original, and such counterparts together shall constitute only one instrument. Any one of such counterparts shall be sufficient for the purpose of proving the existence and terms of
this Warrant, and no party shall be required to produce an original or all of such counterparts in making such proof. 
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THIS PAGE INTENTIONALLY LEFT BLANK] 

  
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 IN WITNESS WHEREOF, each of the Company and Holder have each caused this Warrant to be executed
and delivered as of the Issue Date by an officer thereunto duly authorized. 
  

			
	GREENHUNTER RESOURCES, INC.
		
	 By:
	 	 
	 Name:
	 	 
	 Title:
	 	 

 Acknowledged and Agreed to as of the Issue Date: 

 

	
	
	 Name of Purchaser:
                                         
                                         
                                         
                                         
                                         
             

	
	 Signature of Authorized Signatory of Purchaser:
                                         
                                         
                                         
                                        

	
	 Name of Authorized Signatory: 
                                         
                                         
                                         
                                         
                              

	
	 Title of Authorized Signatory: 
                                         
                                         
                                         
                                         
                                 

 ATTACHMENT I 

NOTICE OF EXERCISE 

GREENHUNTER RESOURCES, INC. 

Attention:
                                 

The undersigned hereby elects to purchase, pursuant to the provisions of the Common Stock Warrant issued by GreenHunter Resources, Inc. as of
                    , 2013, and held by the undersigned, the original of which is attached hereto, and (check the applicable box): 

 

	 ̈	Tenders herewith payment of the Exercise Price in the form of cash, via wire transfer of immediately available funds, in the amount of
$                     for                     
shares of Common Stock. 

  

	 ̈	If this box is checked, as long as the Company’s transfer agent participates in the DTC Fast Automated Securities Transfer program (“FAST”), and except as otherwise provided in the next following
sentence, the Company shall effect delivery of the shares of Common Stock to the Holder by crediting to the account of the Holder or its nominee at DTC (as specified in this Exercise Notice) with the number of shares of Common Stock required to be
delivered. In the event that the Company’s transfer agent is not a participant in FAST, or if the shares of Common Stock are not otherwise eligible for delivery through FAST, the Company shall effect delivery of the shares of Common Stock by
delivering to Holder or its nominee physical certificates representing such shares. 

 Information for Delivery of uncertificated Shares by
DWAC: 
  

							
	 Account Number:
	 	 	  		  	
	 Account Name:
	 	 	  		  	
	 DTC Number:
	 	 	  		  	

  

			
	 HOLDER:

	
	 
	 Name:
	 	
	 Title:
	 	
		
	 Date:

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