Document:

EXHIBIT 10.58

EXHIBIT 10.58 

WARRANT

THE SECURITIES REPRESENTED BY THIS WARRANT HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES HAVE BEEN
ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS, OR AN OPINION OF COUNSEL IN A FORM REASONABLY SATISFACTORY TO THE ISSUER THAT REGISTRATION IS NOT REQUIRED UNDER
SAID ACT OR APPLICABLE STATE SECURITIES LAWS OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT.

U.S. HELICOPTER CORPORATION

Warrant To Purchase Common Stock

	Warrant No.: USHP-5-3 	Number of Shares:	22,321
		Warrant Exercise Price:	$1.40

Date of Issuance: May 14, 2007

U.S. Helicopter Corporation, a Delawarre corporation (the
“Company”), hereby certifies that, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Cornell Capital Partners, LP (the “Holder”), the registered
holder hereof or its permitted assigns, is entitled, subject to the terms set forth below, to purchase from the Company
upon surrender of this Warrant, at any time or times on or after the date hereof, but not after 11:59 P.M. Eastern Time
on the Expiration Date (as defined herein) up to 22,321 fully paid and nonassessable shares of Common Stock (as
defined herein) of the Company (the “Warrant Shares”) at the exercise price per share provided in
Section 1(b) below or as subsequently adjusted; provided, however, that in no event shall the holder be entitled to
exercise this Warrant for a number of Warrant Shares in excess of that number of Warrant Shares which, upon giving
effect to such exercise, would cause the aggregate number of shares of Common Stock beneficially owned by the holder and
its affiliates to exceed 4.99% of the outstanding shares of the Common Stock following such exercise, except within
sixty (60) days of the Expiration Date (however, such restriction may be waived by Holder (but only as to itself and not
to any other holder) upon not less than 65 days prior notice to the Company). For purposes of the foregoing proviso, the
aggregate number of shares of Common Stock beneficially owned by the holder and its affiliates shall include the number
of shares of Common Stock issuable upon exercise of this Warrant with respect to which the determination of such proviso
is being made, but shall exclude shares of Common Stock which would be issuable upon (i) exercise of the remaining,
unexercised Warrants beneficially owned by the holder and its affiliates and (ii) exercise or conversion of the
unexercised or unconverted portion of any other securities of the Company beneficially owned by the holder and its
affiliates (including, without limitation, any convertible notes or preferred stock) subject to a limitation on
conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for
purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities
Exchange Act of 1934, as amended. For purposes of this Warrant, in determining the number of outstanding shares of
Common Stock a holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the
Company’s most recent Form 10-QSB or Form 10-KSB, as the case may be, (2) a more recent public announcement by the
Company or (3) any other notice by the Company or its transfer agent setting forth the number of shares of Common Stock
outstanding. Upon the written request of any holder, the Company shall promptly, but in no event later than one (1)
Business Day following the receipt of such notice, confirm in writing to any such holder the number of shares of Common
Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving
effect to the exercise of Warrants (as defined below) by such holder and its affiliates since the date as of which such
number of outstanding shares of Common Stock was reported.

1

Section 1.

(a) This Warrant is one of the warrants
issued pursuant to the Securities Purchase Agreement (“Securities Purchase Agreement”) dated the date
hereof between the Company and the Buyers listed on Schedule I thereto or issued in exchange or substitution thereafter
or replacement thereof. Each Capitalized term used, and not otherwise defined herein, shall have the meaning ascribed
thereto in the Securities Purchase Agreement.

(b) Definitions. The following words
and terms as used in this Warrant shall have the following meanings:

(i) “Approved Stock Plan”
means a stock option plan that has been approved by the Board of Directors of the Company prior to the date of the
Securities Purchase Agreement, pursuant to which the Company’s securities may be issued only to any employee,
officer or director for services provided to the Company.

(ii) “Business Day” means
any day other than Saturday, Sunday or other day on which commercial banks in the City of New York are authorized or
required by law to remain closed.

(iii) “Closing Bid Price”
means the closing bid price of Common Stock as quoted on the Principal Market (as reported by Bloomberg Financial
Markets (“Bloomberg”) through its “Volume at Price” function).

(iv) “Common Stock” means
(i) the Company’s common stock, par value $0.001 per share, and (ii) any capital stock into which such Common Stock
shall have been changed or any capital stock resulting from a reclassification of such Common Stock.

(v) “Event of Default”
means an event of default under the Securities Purchase Agreement or the Convertible Debentures issued in connection
therewith.

(vi) “Excluded Securities”
means, (a) shares issued or deemed to have been issued by the Company pursuant to an Approved Stock Plan, (b) shares of
Common Stock issued or deemed to be issued by the Company upon the conversion, exchange or exercise of any right,
option, obligation or security outstanding on the date prior to date of the Securities Purchase Agreement, provided that
the terms of such right, option, obligation or security are not amended or otherwise modified on or after the date of
the Securities Purchase Agreement, and provided that the conversion price, exchange price, exercise price or other
purchase price is not reduced, adjusted or otherwise modified and the number of shares of Common Stock issued or
issuable is not increased (whether by operation of, or in accordance with, the relevant governing documents or
otherwise) on or after the date of the Securities Purchase Agreement, and (c) the shares of Common Stock issued or
deemed to be issued by the Company upon conversion of the Convertible Debentures or exercise of the Warrants.

2

(vii) “Expiration Date”
means the date five (5) years from the Issuance Date of this Warrant or, if such date falls on a Saturday, Sunday or
other day on which banks are required or authorized to be closed in the City of New York or the State of New York or on
which trading does not take place on the Principal Exchange or automated quotation system on which the Common Stock is
traded (a “Holiday”), the next date that is not a Holiday.

(viii) “Issuance Date”
means the date hereof.

(ix) “Options” means any
rights, warrants or options to subscribe for or purchase Common Stock or Convertible Securities.

(x) “Person” means an
individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated
organization and a government or any department or agency thereof.

(xi) “Primary Market”
means on any of (a) the American Stock Exchange, (b) New York Stock Exchange, (c) the Nasdaq Global Market, (d) the
Nasdaq Capital Market, or (e) the Nasdaq OTC Bulletin Board (“OTCBB”).

(xii) “Securities Act”
means the Securities Act of 1933, as amended.

(xiii) “Warrant” means
this Warrant and all Warrants issued in exchange, transfer or replacement thereof.

(xiv) “Warrant Exercise
Price” shall be $1.40 or as subsequently adjusted as provided in Section 8 hereof.

(c) Other Definitional Provisions.

(i) Except as otherwise specified herein,
all references herein (A) to the Company shall be deemed to include the Company’s successors and (B) to any
applicable law defined or referred to herein shall be deemed references to such applicable law as the same may have been
or may be amended or supplemented from time to time.

(ii) When used in this Warrant, the words
“herein”, “hereof”, and “hereunder” and words of similar import,
shall refer to this Warrant as a whole and not to any provision of this Warrant, and the words
“Section”, “Schedule”, and “Exhibit” shall refer to Sections of, and
Schedules and Exhibits to, this Warrant unless otherwise specified.

3

(iii) Whenever the context so requires, the
neuter gender includes the masculine or feminine, and the singular number includes the plural, and vice versa.

Section 2.
Exercise of Warrant.

(a) Subject to the terms and conditions
hereof, this Warrant may be exercised by the holder hereof then registered on the books of the Company, pro rata as
hereinafter provided, at any time on any Business Day on or after the opening of business on such Business Day,
commencing with the first day after the date hereof, and prior to 11:59 P.M. Eastern Time on the Expiration Date (i) by
delivery of a written notice, in the form of the subscription notice attached as Exhibit A hereto (the
“Exercise Notice”), of such holder’s election to exercise this Warrant, which notice shall specify
the number of Warrant Shares to be purchased, payment to the Company of an amount equal to the Warrant Exercise Price(s)
applicable to the Warrant Shares being purchased, multiplied by the number of Warrant Shares (at the applicable Warrant
Exercise Price) as to which this Warrant is being exercised (plus any applicable issue or transfer taxes) (the
“Aggregate Exercise Price”) in cash or wire transfer of immediately available funds and the surrender
of this Warrant (or an indemnification undertaking with respect to this Warrant in the case of its loss, theft or
destruction) to a common carrier for overnight delivery to the Company as soon as practicable following such date
(“Cash Basis”) or (ii) if at the time of exercise, the Warrant Shares are not subject to an effective
registration statement or if an Event of Default has occurred, by delivering an Exercise Notice and in lieu of making
payment of the Aggregate Exercise Price in cash or wire transfer, elect instead to receive upon such exercise the
“Net Number” of shares of Common Stock determined according to the following formula (the “Cashless
Exercise”):

	 	Net Number =	(A x B) – (A x C)
			B

For purposes of the foregoing
formula:

A = the total number of Warrant Shares with
respect to which this Warrant is then being exercised.

B = the Closing Bid Price of the Common
Stock on the date of exercise of the Warrant.

C = the Warrant Exercise Price then in
effect for the applicable Warrant Shares at the time of such exercise.

In the event of any exercise of the rights
represented by this Warrant in compliance with this Section 2, the Company shall on or before the fifth (5th) Business
Day following the date of receipt of the Exercise Notice, the Aggregate Exercise Price and this Warrant (or an
indemnification undertaking with respect to this Warrant in the case of its loss, theft or destruction) and the receipt
of the representations of the holder specified in Section 6 hereof, if requested by the Company (the “Exercise
Delivery Documents”), and if the Common Stock is DTC eligible, credit such aggregate number of shares of Common
Stock to which the holder shall be entitled to the holder’s or its designee’s balance account with The
Depository Trust Company; provided, however, if the holder who submitted the Exercise Notice requested physical delivery
of any or all of the Warrant Shares, or, if the Common Stock is not DTC eligible then the Company shall, on or before
the fifth (5th) Business Day following receipt of the Exercise Delivery Documents, issue and surrender to a common
carrier for overnight delivery to the address specified in the Exercise Notice, a certificate, registered in the name of
the holder, for the number of shares of Common Stock to which the holder shall be entitled pursuant to such request.
Upon delivery of the Exercise Notice and Aggregate Exercise Price referred to in clause (i) or (ii) above the holder of
this Warrant 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. In the case of a dispute as to the determination of the Warrant
Exercise Price, the Closing Bid Price or the arithmetic calculation of the Warrant Shares, the Company shall promptly
issue to the holder the number of Warrant Shares that is not disputed and shall submit the disputed determinations or
arithmetic calculations to the holder via facsimile within one (1) Business Day of receipt of the holder’s Exercise
Notice.

4

(b) If the holder and the Company are
unable to agree upon the determination of the Warrant Exercise Price or arithmetic calculation of the Warrant Shares
within one (1) day of such disputed determination or arithmetic calculation being submitted to the holder, then the
Company shall immediately submit via facsimile (i) the disputed determination of the Warrant Exercise Price or the
Closing Bid Price to an independent, reputable investment banking firm or (ii) the disputed arithmetic calculation of
the Warrant Shares to its independent, outside accountant. The Company shall cause the investment banking firm or the
accountant, as the case may be, to perform the determinations or calculations and notify the Company and the holder of
the results no later than forty-eight (48) hours from the time it receives the disputed determinations or calculations.
Such investment banking firm’s or accountant’s determination or calculation, as the case may be, shall be
deemed conclusive absent manifest error.

(c) Unless the rights represented by this
Warrant shall have expired or shall have been fully exercised, the Company shall, as soon as practicable and in no event
later than five (5) Business Days after any exercise and at its own expense, issue a new Warrant identical in all
respects to this Warrant exercised except it shall represent rights to purchase the number of Warrant Shares purchasable
immediately prior to such exercise under this Warrant exercised, less the number of Warrant Shares with respect to which
such Warrant is exercised.

(d) No fractional Warrant Shares are to be
issued upon any pro rata exercise of this Warrant, but rather the number of Warrant Shares issued upon such exercise of
this Warrant shall be rounded up or down to the nearest whole number.

(e) If the Company or its Transfer Agent
shall fail for any reason or for no reason to issue to the holder within ten (10) days of receipt of the Exercise
Delivery Documents, a certificate for the number of Warrant Shares to which the holder is entitled or to credit the
holder’s balance account with The Depository Trust Company for such number of Warrant Shares to which the holder is
entitled upon the holder’s exercise of this Warrant, the Company shall, in addition to any other remedies under
this Warrant or otherwise available to such holder, pay as additional damages in cash to such holder on each day the
issuance of such certificate for Warrant Shares is not timely effected an amount equal to 0.025% of the product of (A)
the sum of the number of Warrant Shares not issued to the holder on a timely basis and to which the holder is entitled,
and (B) the Closing Bid Price of the Common Stock for the trading day immediately preceding the last possible date which
the Company could have issued such Common Stock to the holder without violating this Section 2.

5

(f) If within ten (10) days after the
Company’s receipt of the Exercise Delivery Documents, the Company fails to deliver a new Warrant to the holder for
the number of Warrant Shares to which such holder is entitled pursuant to Section 2 hereof, then, in addition to any
other available remedies under this Warrant, or otherwise available to such holder, the Company shall pay as additional
damages in cash to such holder on each day after such tenth (10th) day that such delivery of such new Warrant is not
timely effected in an amount equal to 0.25% of the product of (A) the number of Warrant Shares represented by the
portion of this Warrant which is not being exercised and (B) the Closing Bid Price of the Common Stock for the trading
day immediately preceding the last possible date which the Company could have issued such Warrant to the holder without
violating this Section 2.

Section 3. Covenants as to Common
Stock. The Company hereby covenants and agrees as follows:

(a) This Warrant is, and any Warrants
issued in substitution for or replacement of this Warrant will upon issuance be, duly authorized and validly
issued.

(b) All Warrant Shares which may be issued
upon the exercise of the rights represented by this Warrant will, upon issuance, be validly issued, fully paid and
nonassessable and free from all taxes, liens and charges with respect to the issue thereof.

(c) During the period within which the
rights represented by this Warrant may be exercised, the Company will at all times have authorized and reserved at least
one hundred percent (100%) of the number of shares of Common Stock needed to provide for the exercise of the rights then
represented by this Warrant and the par value of said shares will at all times be less than or equal to the applicable
Warrant Exercise Price. If at any time the Company does not have a sufficient number of shares of Common Stock
authorized and available, then the Company shall call and hold a special meeting of its stockholders within sixty (60)
days of that time for the sole purpose of increasing the number of authorized shares of Common Stock.

(d) If at any time after the date hereof
the Company shall file a registration statement, the Company shall include the Warrant Shares issuable to the holder,
pursuant to the terms of this Warrant and shall maintain, so long as any other shares of Common Stock shall be so
listed, such listing of all Warrant Shares from time to time issuable upon the exercise of this Warrant; and the Company
shall so list on each national securities exchange or automated quotation system, as the case may be, and shall maintain
such listing of, any other shares of capital stock of the Company issuable upon the exercise of this Warrant if and so
long as any shares of the same class shall be listed on such national securities exchange or automated quotation
system.

(e) The Company will not, by amendment of
its Articles 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 to be observed or performed by it hereunder, but will at all times in good faith assist in the carrying out
of all the provisions of this Warrant and in the taking of all such action as may reasonably be requested by the holder
of this Warrant in order to protect the exercise privilege of the holder of this Warrant against dilution or other
impairment, consistent with the tenor and purpose of this Warrant. The Company will not increase the par value of any
shares of Common Stock receivable upon the exercise of this Warrant above the Warrant Exercise Price then in effect, and
(ii) will take all such actions as may be necessary or appropriate in order that the Company may validly and legally
issue fully paid and nonassessable shares of Common Stock upon the exercise of this Warrant.

6

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

Section 4. Taxes. The Company shall
pay any and all taxes, except any applicable withholding, which may be payable with respect to the issuance and delivery
of Warrant Shares upon exercise of this Warrant.

Section 5. Warrant Holder Not Deemed a
Stockholder. Except as otherwise specifically provided herein, no holder, as such, of this Warrant shall be entitled
to vote or receive dividends or be deemed the holder of shares of capital stock of the Company for any purpose, nor
shall anything contained in this Warrant be construed to confer upon the holder hereof, as such, any of the rights of a
stockholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any
reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive
notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the holder of this
Warrant of the Warrant Shares which he or she is then entitled to receive upon the due exercise of this Warrant. In
addition, nothing contained in this Warrant shall be construed as imposing any liabilities on such holder to purchase
any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities
are asserted by the Company or by creditors of the Company. Notwithstanding this Section 5, the Company will provide the
holder of this Warrant with copies of the same notices and other information given to the stockholders of the Company
generally, contemporaneously with the giving thereof to the stockholders.

Section 6. Representations of Holder.
The holder of this Warrant, by the acceptance hereof, represents that it is acquiring this Warrant and the Warrant
Shares for its own account for investment only and not with a view towards, or for resale in connection with, the public
sale or distribution of this Warrant or the Warrant Shares, except pursuant to sales registered or exempted under the
Securities Act; provided, however, that by making the representations herein, the holder does not agree to hold this
Warrant or any of the Warrant Shares for any minimum or other specific term and reserves the right to dispose of this
Warrant and the Warrant Shares at any time in accordance with or pursuant to a registration statement or an exemption
under the Securities Act. The holder of this Warrant further represents, by acceptance hereof, that, as of this date,
such holder is an “accredited investor” as such term is defined in Rule 501(a)(1) of Regulation D promulgated
by the Securities and Exchange Commission under the Securities Act (an “Accredited Investor”). Upon
exercise of this Warrant the holder shall, if requested by the Company, confirm in writing, in a form satisfactory to
the Company, that the Warrant Shares so purchased are being acquired solely for the holder’s own account and not as
a nominee for any other party, for investment, and not with a view toward distribution or resale and that such holder is
an Accredited Investor. If such holder cannot make such representations because they would be factually incorrect, it
shall be a condition to such holder’s exercise of this Warrant that the Company receive such other representations
as the Company considers reasonably necessary to assure the Company that the issuance of its securities upon exercise of
this Warrant shall not violate any United States or state securities laws.

7

Section 7.
Ownership and Transfer.

(a) 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. The Company may treat the person in
whose name any Warrant is registered on the register as the owner and holder thereof for all purposes, notwithstanding
any notice to the contrary, but in all events recognizing any transfers made in accordance with the terms of this
Warrant.

Section 8. Adjustment of Warrant Exercise
Price and Number of Shares. The Warrant Exercise Price and the number of shares of Common Stock issuable upon
exercise of this Warrant shall be adjusted from time to time as follows:

(a) Adjustment of Warrant Exercise Price
and Number of Shares upon Issuance of Common Stock. If and whenever on or after the Issuance Date of this Warrant,
the Company issues or sells, or is deemed to have issued or sold, any shares of Common Stock (other than Excluded
Securities) for a consideration per share less than a price (the “Applicable Price”) equal to the
Warrant Exercise Price in effect immediately prior to such issuance or sale, then immediately after such issue or sale
the Warrant Exercise Price then in effect shall be reduced to an amount equal to such consideration per share. Upon each
such adjustment of the Warrant Exercise Price hereunder, the number of Warrant Shares issuable upon exercise of this
Warrant shall be adjusted to the number of shares determined by multiplying the Warrant Exercise Price in effect
immediately prior to such adjustment by the number of Warrant Shares issuable upon exercise of this Warrant immediately
prior to such adjustment and dividing the product thereof by the Warrant Exercise Price resulting from such
adjustment.

(b) Effect on Warrant Exercise Price of
Certain Events. For purposes of determining the adjusted Warrant Exercise Price under Section 8(a) above, the
following shall be applicable:

(i) Issuance of
Options. If after the date hereof, the Company in any manner grants any Options and the lowest price per share for
which one share of Common Stock is issuable upon the exercise of any such Option or upon conversion or exchange of any
convertible securities issuable upon exercise of any such Option is less than the Applicable Price, then such share of
Common Stock shall be deemed to be outstanding and to have been issued and sold by the Company at the time of the
granting or sale of such Option for such price per share. For purposes of this Section 8(b)(i), the lowest price per
share for which one share of Common Stock is issuable upon exercise of such Options or upon conversion or exchange of
such Convertible Securities shall be equal to the sum of the lowest amounts of consideration (if any) received or
receivable by the Company with respect to any one share of Common Stock upon the granting or sale of the Option, upon
exercise of the Option or upon conversion or exchange of any convertible security issuable upon exercise of such Option.
No further adjustment of the Warrant Exercise Price shall be made upon the actual issuance of such Common Stock or of
such convertible securities upon the exercise of such Options or upon the actual issuance of such Common Stock upon
conversion or exchange of such convertible securities.

8

(ii) Issuance of
Convertible Securities. If the Company in any manner issues or sells any convertible securities and the lowest price
per share for which one share of Common Stock is issuable upon the conversion or exchange thereof is less than the
Applicable Price, then such share of Common Stock shall be deemed to be outstanding and to have been issued and sold by
the Company at the time of the issuance or sale of such convertible securities for such price per share. For the
purposes of this Section 8(b)(ii), the lowest price per share for which one share of Common Stock is issuable upon such
conversion or exchange shall be equal to the sum of the lowest amounts of consideration (if any) received or receivable
by the Company with respect to one share of Common Stock upon the issuance or sale of the convertible security and upon
conversion or exchange of such convertible security. No further adjustment of the Warrant Exercise Price shall be made
upon the actual issuance of such Common Stock upon conversion or exchange of such convertible securities, and if any
such issue or sale of such convertible securities is made upon exercise of any Options for which adjustment of the
Warrant Exercise Price had been or are to be made pursuant to other provisions of this Section 8(b), no further
adjustment of the Warrant Exercise Price shall be made by reason of such issue or sale.

(iii) Change in Option
Price or Rate of Conversion. If the purchase price provided for in any Options, the additional consideration, if
any, payable upon the issue, conversion or exchange of any convertible securities, or the rate at which any convertible
securities are convertible into or exchangeable for Common Stock changes at any time, the Warrant Exercise Price in
effect at the time of such change shall be adjusted to the Warrant Exercise Price which would have been in effect at
such time had such Options or convertible securities provided for such changed purchase price, additional consideration
or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant
Shares issuable upon exercise of this Warrant shall be correspondingly readjusted. For purposes of this Section
8(b)(iii), if the terms of any Option or convertible security that was outstanding as of the Issuance Date of this
Warrant are changed in the manner described in the immediately preceding sentence, then such Option or convertible
security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been
issued as of the date of such change. No adjustment pursuant to this Section 8(b) shall be made if such adjustment would
result in an increase of the Warrant Exercise Price then in effect.

(iv) Calculation of
Consideration Received. If any Common Stock, Options or convertible securities are issued or sold or deemed to have
been issued or sold for cash, the consideration received therefore will be deemed to be the net amount received by the
Company therefore. If any Common Stock, Options or convertible securities are issued or sold for a consideration other
than cash, the amount of such consideration received by the Company will be the fair value of such consideration, except
where such consideration consists of marketable securities, in which case the amount of consideration received by the
Company will be the market price of such securities on the date of receipt of such securities. If any Common Stock,
Options or convertible securities are issued to the owners of the non-surviving entity in connection with any merger in
which the Company is the surviving entity, the amount of consideration therefore will be deemed to be the fair value of
such portion of the net assets and business of the non-surviving entity as is attributable to such Common Stock, Options
or convertible securities, as the case may be. The fair value of any consideration other than cash or securities will be
determined jointly by the Company and the holders of Warrants representing at least two-thirds (b) of the Warrant Shares
issuable upon exercise of the Warrants then outstanding. If such parties are unable to reach agreement within ten (10)
days after the occurrence of an event requiring valuation (the “Valuation Event”), the fair value of
such consideration will be determined within five (5) Business Days after the tenth (10th) day following the Valuation
Event by an independent, reputable appraiser jointly selected by the Company and the holders of Warrants representing at
least two-thirds (b) of the Warrant Shares issuable upon exercise of the Warrants then outstanding. The determination of
such appraiser shall be final and binding upon all parties and the fees and expenses of such appraiser shall be borne
jointly by the Company and the holders of Warrants.

9

(v) Integrated
Transactions. In case any Option is issued in connection with the issue or sale of other securities of the Company,
together comprising one integrated transaction in which no specific consideration is allocated to such Options by the
parties thereto, the Options will be deemed to have been issued for a consideration of $.01.

(vi) Treasury
Shares. The number of shares of Common Stock outstanding at any given time does not include shares owned or held by
or for the account of the Company, and the disposition of any shares so owned or held will be considered an issue or
sale of Common Stock.

(vii) Record Date.
If the Company takes a record of the holders of Common Stock for the purpose of entitling them (1) to receive a dividend
or other distribution payable in Common Stock, Options or in convertible securities or (2) to subscribe for or purchase
Common Stock, Options or convertible securities, then such record date will be deemed to be the date of the issue or
sale of the shares of Common Stock deemed to have been issued or sold upon the declaration of such dividend or the
making of such other distribution or the date of the granting of such right of subscription or purchase, as the case may
be.

(c) Adjustment of Warrant Exercise Price
upon Subdivision or Combination of Common Stock. If the Company at any time after the date of issuance of this
Warrant subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its
outstanding shares of Common Stock into a greater number of shares, any Warrant Exercise Price in effect immediately
prior to such subdivision will be proportionately reduced and the number of shares of Common Stock obtainable upon
exercise of this Warrant will be proportionately increased. If the Company at any time after the date of issuance of
this Warrant combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding shares
of Common Stock into a smaller number of shares, any Warrant Exercise Price in effect immediately prior to such
combination will be proportionately increased and the number of Warrant Shares issuable upon exercise of this Warrant
will be proportionately decreased. Any adjustment under this Section 8(c) shall become effective at the close of
business on the date the subdivision or combination becomes effective.

10

(d) Distribution of Assets. If the
Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to
holders of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of
cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate
rearrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this
Warrant, then, in each such case:

(i) any Warrant Exercise Price in effect
immediately prior to the close of business on the record date fixed for the determination of holders of Common Stock
entitled to receive the Distribution shall be reduced, effective as of the close of business on such record date, to a
price determined by multiplying such Warrant Exercise Price by a fraction of which (A) the numerator shall be the
Closing Sale Price of the Common Stock on the trading day immediately preceding such record date minus the value of the
Distribution (as determined in good faith by the Company’s Board of Directors) applicable to one share of Common
Stock, and (B) the denominator shall be the Closing Sale Price of the Common Stock on the trading day immediately
preceding such record date; and

(ii) either (A) the number of Warrant
Shares obtainable upon exercise of this Warrant shall be increased to a number of shares equal to the number of shares
of Common Stock obtainable immediately prior to the close of business on the record date fixed for the determination of
holders of Common Stock entitled to receive the Distribution multiplied by the reciprocal of the fraction set forth in
the immediately preceding clause (i), or (B) in the event that the Distribution is of common stock of a company whose
common stock is traded on a national securities exchange or a national automated quotation system, then the holder of
this Warrant shall receive an additional warrant to purchase Common Stock, the terms of which shall be identical to
those of this Warrant, except that such warrant shall be exercisable into the amount of the assets that would have been
payable to the holder of this Warrant pursuant to the Distribution had the holder exercised this Warrant immediately
prior to such record date and with an exercise price equal to the amount by which the exercise price of this Warrant was
decreased with respect to the Distribution pursuant to the terms of the immediately preceding clause (i).

(e) Certain Events. If any event
occurs of the type contemplated by the provisions of this Section 8 but not expressly provided for by such provisions
(including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights with
equity features), then the Company’s Board of Directors will make an appropriate adjustment in the Warrant Exercise
Price and the number of shares of Common Stock obtainable upon exercise of this Warrant so as to protect the rights of
the holders of the Warrants; provided, except as set forth in section 8(c),that no such adjustment pursuant to this
Section 8(e) will increase the Warrant Exercise Price or decrease the number of shares of Common Stock obtainable as
otherwise determined pursuant to this Section 8.

11

(f) Voluntary Adjustments By
Company. The Company may at any time during the term of this Warrant reduce the then current Exercise Price to any
amount and for any period of time deemed appropriate by the Board of Directors of the Company.

(g) Notices.

(i) Immediately upon any adjustment of the
Warrant Exercise Price, the Company will give written notice thereof to the holder of this Warrant, setting forth in
reasonable detail, and certifying, the calculation of such adjustment.

(ii) The Company will give written notice
to the holder of this Warrant at least ten (10) days prior to the date on which the Company closes its books or takes a
record (A) with respect to any dividend or distribution upon the Common Stock, (B) with respect to any pro rata
subscription offer to holders of Common Stock or (C) for determining rights to vote with respect to any Organic Change
(as defined below), dissolution or liquidation, provided that such information shall be made known to the public prior
to or in conjunction with such notice being provided to such holder.

(iii) The Company will also give written
notice to the holder of this Warrant at least ten (10) days prior to the date on which any Organic Change, dissolution
or liquidation will take place, provided that such information shall be made known to the public prior to or in
conjunction with such notice being provided to such holder.

Section 9.
Purchase Rights; Reorganization, Reclassification, Consolidation, Merger or Sale.

(a) In addition to any adjustments pursuant
to Section 8 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to
purchase stock, warrants, securities or other property pro rata to the record holders of any class of Common Stock (the
“Purchase Rights”), then the holder of this Warrant will be entitled to acquire, upon the terms
applicable to such Purchase Rights, the aggregate Purchase Rights which such holder could have acquired if such holder
had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant immediately before the
date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken,
the date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such
Purchase Rights.

(b) Any recapitalization, reorganization,
reclassification, consolidation, merger, sale of all or substantially all of the Company’s assets to another Person
or other transaction in each case which is effected in such a way that holders of Common Stock are entitled to receive
(either directly or upon subsequent liquidation) stock, securities or assets with respect to or in exchange for Common
Stock is referred to herein as an “Organic Change.” Prior to the consummation of any (i) sale of all or
substantially all of the Company’s assets to an acquiring Person or (ii) other Organic Change following which the
Company is not a surviving entity, the Company will secure from the Person purchasing such assets or the successor
resulting from such Organic Change (in each case, the “Acquiring Entity”) a written agreement (in form
and substance satisfactory to the holders of Warrants representing at least two-thirds (iii) of the Warrant Shares
issuable upon exercise of the Warrants then outstanding) to deliver to each holder of Warrants in exchange for such
Warrants, a security of the Acquiring Entity evidenced by a written instrument substantially similar in form and
substance to this Warrant and satisfactory to the holders of the Warrants (including an adjusted warrant exercise price
equal to the value for the Common Stock reflected by the terms of such consolidation, merger or sale, and exercisable
for a corresponding number of shares of Common Stock acquirable and receivable upon exercise of the Warrants without
regard to any limitations on exercise, if the value so reflected is less than any Applicable Warrant Exercise Price
immediately prior to such consolidation, merger or sale). Prior to the consummation of any other Organic Change, the
Company shall make appropriate provision (in form and substance satisfactory to the holders of Warrants representing a
majority of the Warrant Shares issuable upon exercise of the Warrants then outstanding) to insure that each of the
holders of the Warrants will thereafter have the right to acquire and receive in lieu of or in addition to (as the case
may be) the Warrant Shares immediately theretofore issuable and receivable upon the exercise of such holder’s
Warrants (without regard to any limitations on exercise), such shares of stock, securities or assets that would have
been issued or payable in such Organic Change with respect to or in exchange for the number of Warrant Shares which
would have been issuable and receivable upon the exercise of such holder’s Warrant as of the date of such Organic
Change (without taking into account any limitations or restrictions on the exercisability of this Warrant).

12

Section 10. Lost, Stolen, Mutilated or
Destroyed Warrant. If this Warrant is lost, stolen, mutilated or destroyed, the Company shall promptly, on receipt
of an indemnification undertaking (or, in the case of a mutilated Warrant, the Warrant), issue a new Warrant of like
denomination and tenor as this Warrant so lost, stolen, mutilated or destroyed.

Section 11. Notice. Any notices,
consents, waivers or other communications required or permitted to be given under the terms of this Warrant must be in
writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when
sent by facsimile (provided confirmation of receipt is received by the sending party transmission is mechanically or
electronically generated and kept on file by the sending party); or (iii) one Business Day after deposit with a
nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same. The
addresses and facsimile numbers for such communications shall be:

	If to Holder:	Cornell Capital Partners, LP
101 Hudson Street – Suite 3700
Jersey City, NJ
07302
Attention: Mark A. Angelo
Telephone: (201) 985-8300
Facsimile: (201) 985-8266
	With Copy to:	Troy Rillo, Esq.
101 Hudson Street – Suite 3700
Jersey City, NJ 07302
Telephone: (201)
985-8300
Facsimile: (201) 985-8266

13

	If to the Company, to:	U.S. Helicopter Corporation
6 East River Piers
Suite 216
Downtown Manhattan Heliport
New York,
NY 10004
Attention: Chief Executive Officer
Telephone: (212) 248-2002
Facsimile: (212) 248-0940
	With a copy to:	Gallagher, Briody & Butler
Princeton Forrestal Village
155 Village Boulevard
Suite
201
Princeton, NJ 08540
Attention: Thomas P. Gallagher, Esq.
Telephone: (609) 452-6000
Facsimile:
(609) 452-0090

If to a holder of this Warrant, to it at the address and
facsimile number set forth on Exhibit C hereto, with copies to such holder’s representatives as set forth on
Exhibit C, or at such other address and facsimile as shall be delivered to the Company upon the issuance or
transfer of this Warrant. Each party shall provide five days’ prior written notice to the other party of any change
in address or facsimile number. Written confirmation of receipt (A) given by the recipient of such notice, consent,
facsimile, waiver or other communication, (or (B) provided by a nationally recognized overnight delivery service shall
be rebuttable evidence of personal service, receipt by facsimile or receipt from a nationally recognized overnight
delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

Section 12. Date. The date of this
Warrant is set forth on page 1 hereof. This Warrant, in all events, shall be wholly void and of no effect after the
close of business on the Expiration Date, except that notwithstanding any other provisions hereof, the provisions of
Section 8(b) shall continue in full force and effect after such date as to any Warrant Shares or other securities issued
upon the exercise of this Warrant.

Section 13. Amendment and Waiver.
Except as otherwise provided herein, the provisions of the Warrants may be amended and the Company may take any action
herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained
the written consent of the holders of Warrants representing at least two-thirds of the Warrant Shares issuable upon
exercise of the Warrants then outstanding; provided that, except for Section 8(d), no such action may increase the
Warrant Exercise Price or decrease the number of shares or class of stock obtainable upon exercise of any Warrant
without the written consent of the holder of such Warrant.

Section 14. Descriptive Headings;
Governing Law. The descriptive headings of the several sections and paragraphs of this Warrant are inserted for
convenience only and do not constitute a part of this Warrant. The corporate laws of the State of Delaware shall govern
all issues concerning the relative rights of the Company and its stockholders. All other questions concerning the
construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the
State of New Jersey, without giving effect to any choice of law or conflict of law provision or rule (whether of the
State of New Jersey or any other jurisdictions) that would cause the application of the laws of any jurisdictions other
than the State of New Jersey. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and
federal courts sitting in Hudson County and the United States District Court for the District of New Jersey, for the
adjudication of any dispute hereunder or in connection herewith or therewith, or with any transaction contemplated
hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding
is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby
irrevocably waives personal service of process and consents to process being served in any such suit, action or
proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any manner permitted by law.

14

Section 15. Waiver of Jury Trial.
AS A MATERIAL INDUCEMENT FOR EACH PARTY HERETO TO ENTER INTO THIS WARRANT, THE PARTIES HERETO HEREBY WAIVE ANY RIGHT
TO TRIAL BY JURY IN ANY LEGAL PROCEEDING RELATED IN ANY WAY TO THIS WARRANT AND/OR ANY AND ALL OF THE OTHER DOCUMENTS
ASSOCIATED WITH THIS TRANSACTION.

REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

15

IN WITNESS WHEREOF, the Company has
caused this Warrant to be signed as of the date first set forth above.

U.S. HELICOPTER CORPORATION

By: /s/ George J. Mehm, Jr.
George J. Mehm, Jr.

Chief Financial Officer, Sr. Vice President and
Treasurer

16

EXHIBIT A TO WARRANT

EXERCISE NOTICE

TO BE EXECUTED
BY THE REGISTERED HOLDER TO EXERCISE
THIS WARRANT

U.S. HELICOPTER CORPORATION

The undersigned holder hereby exercises the
right to purchase ______________ of the shares of Common Stock (“Warrant Shares”) of U.S. Helicopter
Corporation (the “Company”), evidenced by the attached Warrant (the “Warrant”).
Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the
Warrant.

Specify Method of exercise by check mark:

1. ___ Cash Exercise

(a) Payment of Warrant Exercise
Price. The holder shall pay the Aggregate Exercise Price of $______________ to the Company in accordance with the
terms of the Warrant.

(b) Delivery of Warrant Shares. The
Company shall deliver to the holder _________ Warrant Shares in accordance with the terms of the Warrant.

2. ___ Cashless Exercise

(a) Payment of Warrant Exercise
Price. In lieu of making payment of the Aggregate Exercise Price, the holder elects to receive upon such exercise
the Net Number of shares of Common Stock determined in accordance with the terms of the Warrant.

(b) Delivery of Warrant Shares. The
Company shall deliver to the holder _________ Warrant Shares in accordance with the terms of the Warrant.

Date: _______________ __, ______

Name of Registered Holder

By:____________________________
Name:__________________________
Title:___________________________

EXHIBIT B TO WARRANT

FORM OF WARRANT POWER

FOR VALUE RECEIVED, the undersigned
does hereby assign and transfer to ________________, Federal Identification No. __________, a warrant to purchase
____________ shares of the capital stock of U.S. Helicopter Corporation represented by warrant certificate no. _____,
standing in the name of the undersigned on the books of said corporation. The undersigned does hereby irrevocably
constitute and appoint ______________, attorney to transfer the warrants of said corporation, with full power of
substitution in the premises.

	Dated:__________________________	______________________________
	 	By:____________________________
Name:__________________________
Title:___________________________

B-1EXHIBIT 10.59

EXHIBIT 10.59

WARRANT

THE SECURITIES REPRESENTED BY THIS WARRANT HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES HAVE BEEN
ACQUIRED FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF AN EFFECTIVE
REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS, OR AN OPINION OF COUNSEL IN A FORM REASONABLY SATISFACTORY TO THE ISSUER THAT REGISTRATION IS NOT REQUIRED UNDER
SAID ACT OR APPLICABLE STATE SECURITIES LAWS OR UNLESS SOLD PURSUANT TO RULE 144 UNDER SAID ACT.

U.S. HELICOPTER CORPORATION

Warrant To Purchase Common Stock

	Warrant No.: USHP-5-4	Number of Shares:	19,531
		Warrant Exercise Price:	$1.60

Date of Issuance: May 14, 2007

U.S. Helicopter Corporation, a Delawarre corporation (the
“Company”), hereby certifies that, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Cornell Capital Partners, LP (the “Holder”), the registered
holder hereof or its permitted assigns, is entitled, subject to the terms set forth below, to purchase from the Company
upon surrender of this Warrant, at any time or times on or after the date hereof, but not after 11:59 P.M. Eastern Time
on the Expiration Date (as defined herein) up to 19,531 fully paid and nonassessable shares of Common Stock (as
defined herein) of the Company (the “Warrant Shares”) at the exercise price per share provided in
Section 1(b) below or as subsequently adjusted; provided, however, that in no event shall the holder be entitled to
exercise this Warrant for a number of Warrant Shares in excess of that number of Warrant Shares which, upon giving
effect to such exercise, would cause the aggregate number of shares of Common Stock beneficially owned by the holder and
its affiliates to exceed 4.99% of the outstanding shares of the Common Stock following such exercise, except within
sixty (60) days of the Expiration Date (however, such restriction may be waived by Holder (but only as to itself and not
to any other holder) upon not less than 65 days prior notice to the Company). For purposes of the foregoing proviso, the
aggregate number of shares of Common Stock beneficially owned by the holder and its affiliates shall include the number
of shares of Common Stock issuable upon exercise of this Warrant with respect to which the determination of such proviso
is being made, but shall exclude shares of Common Stock which would be issuable upon (i) exercise of the remaining,
unexercised Warrants beneficially owned by the holder and its affiliates and (ii) exercise or conversion of the
unexercised or unconverted portion of any other securities of the Company beneficially owned by the holder and its
affiliates (including, without limitation, any convertible notes or preferred stock) subject to a limitation on
conversion or exercise analogous to the limitation contained herein. Except as set forth in the preceding sentence, for
purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities
Exchange Act of 1934, as amended. For purposes of this Warrant, in determining the number of outstanding shares of
Common Stock a holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the
Company’s most recent Form 10-QSB or Form 10-KSB, as the case may be, (2) a more recent public announcement by the
Company or (3) any other notice by the Company or its transfer agent setting forth the number of shares of Common Stock
outstanding. Upon the written request of any holder, the Company shall promptly, but in no event later than one (1)
Business Day following the receipt of such notice, confirm in writing to any such holder the number of shares of Common
Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving
effect to the exercise of Warrants (as defined below) by such holder and its affiliates since the date as of which such
number of outstanding shares of Common Stock was reported.

1

Section 1.

(a) This Warrant is one of the warrants
issued pursuant to the Securities Purchase Agreement (“Securities Purchase Agreement”) dated the date
hereof between the Company and the Buyers listed on Schedule I thereto or issued in exchange or substitution thereafter
or replacement thereof. Each Capitalized term used, and not otherwise defined herein, shall have the meaning ascribed
thereto in the Securities Purchase Agreement.

(b) Definitions. The following words
and terms as used in this Warrant shall have the following meanings:

(i) “Approved Stock Plan”
means a stock option plan that has been approved by the Board of Directors of the Company prior to the date of the
Securities Purchase Agreement, pursuant to which the Company’s securities may be issued only to any employee,
officer or director for services provided to the Company.

(ii) “Business Day” means
any day other than Saturday, Sunday or other day on which commercial banks in the City of New York are authorized or
required by law to remain closed.

(iii) “Closing Bid Price”
means the closing bid price of Common Stock as quoted on the Principal Market (as reported by Bloomberg Financial
Markets (“Bloomberg”) through its “Volume at Price” function).

(iv) “Common Stock” means
(i) the Company’s common stock, par value $0.001 per share, and (ii) any capital stock into which such Common Stock
shall have been changed or any capital stock resulting from a reclassification of such Common Stock.

(v) “Event of Default”
means an event of default under the Securities Purchase Agreement or the Convertible Debentures issued in connection
therewith.

(vi) “Excluded Securities”
means, (a) shares issued or deemed to have been issued by the Company pursuant to an Approved Stock Plan, (b) shares of
Common Stock issued or deemed to be issued by the Company upon the conversion, exchange or exercise of any right,
option, obligation or security outstanding on the date prior to date of the Securities Purchase Agreement, provided that
the terms of such right, option, obligation or security are not amended or otherwise modified on or after the date of
the Securities Purchase Agreement, and provided that the conversion price, exchange price, exercise price or other
purchase price is not reduced, adjusted or otherwise modified and the number of shares of Common Stock issued or
issuable is not increased (whether by operation of, or in accordance with, the relevant governing documents or
otherwise) on or after the date of the Securities Purchase Agreement, and (c) the shares of Common Stock issued or
deemed to be issued by the Company upon conversion of the Convertible Debentures or exercise of the Warrants.

2

(vii) “Expiration Date”
means the date five (5) years from the Issuance Date of this Warrant or, if such date falls on a Saturday, Sunday or
other day on which banks are required or authorized to be closed in the City of New York or the State of New York or on
which trading does not take place on the Principal Exchange or automated quotation system on which the Common Stock is
traded (a “Holiday”), the next date that is not a Holiday.

(viii) “Issuance Date”
means the date hereof.

(ix) “Options” means any
rights, warrants or options to subscribe for or purchase Common Stock or Convertible Securities.

(x) “Person” means an
individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated
organization and a government or any department or agency thereof.

(xi) “Primary Market”
means on any of (a) the American Stock Exchange, (b) New York Stock Exchange, (c) the Nasdaq Global Market, (d) the
Nasdaq Capital Market, or (e) the Nasdaq OTC Bulletin Board (“OTCBB”).

(xii) “Securities Act”
means the Securities Act of 1933, as amended.

(xiii) “Warrant” means
this Warrant and all Warrants issued in exchange, transfer or replacement thereof.

(xiv) “Warrant Exercise
Price” shall be $1.60 or as subsequently adjusted as provided in Section 8 hereof.

(c) Other Definitional Provisions.

(i) Except as otherwise specified herein,
all references herein (A) to the Company shall be deemed to include the Company’s successors and (B) to any
applicable law defined or referred to herein shall be deemed references to such applicable law as the same may have been
or may be amended or supplemented from time to time.

(ii) When used in this Warrant, the words
“herein”, “hereof”, and “hereunder” and words of similar import,
shall refer to this Warrant as a whole and not to any provision of this Warrant, and the words
“Section”, “Schedule”, and “Exhibit” shall refer to Sections of, and
Schedules and Exhibits to, this Warrant unless otherwise specified.

3

(iii) Whenever the context so requires, the
neuter gender includes the masculine or feminine, and the singular number includes the plural, and vice versa.

Section 2.
Exercise of Warrant.

(a) Subject to the terms and conditions
hereof, this Warrant may be exercised by the holder hereof then registered on the books of the Company, pro rata as
hereinafter provided, at any time on any Business Day on or after the opening of business on such Business Day,
commencing with the first day after the date hereof, and prior to 11:59 P.M. Eastern Time on the Expiration Date (i) by
delivery of a written notice, in the form of the subscription notice attached as Exhibit A hereto (the
“Exercise Notice”), of such holder’s election to exercise this Warrant, which notice shall specify
the number of Warrant Shares to be purchased, payment to the Company of an amount equal to the Warrant Exercise Price(s)
applicable to the Warrant Shares being purchased, multiplied by the number of Warrant Shares (at the applicable Warrant
Exercise Price) as to which this Warrant is being exercised (plus any applicable issue or transfer taxes) (the
“Aggregate Exercise Price”) in cash or wire transfer of immediately available funds and the surrender
of this Warrant (or an indemnification undertaking with respect to this Warrant in the case of its loss, theft or
destruction) to a common carrier for overnight delivery to the Company as soon as practicable following such date
(“Cash Basis”) or (ii) if at the time of exercise, the Warrant Shares are not subject to an effective
registration statement or if an Event of Default has occurred, by delivering an Exercise Notice and in lieu of making
payment of the Aggregate Exercise Price in cash or wire transfer, elect instead to receive upon such exercise the
“Net Number” of shares of Common Stock determined according to the following formula (the “Cashless
Exercise”):

	 	Net Number =	(A x B) – (A x C)
			B

For purposes of the foregoing
formula:

A = the total number of Warrant Shares with
respect to which this Warrant is then being exercised.

B = the Closing Bid Price of the Common
Stock on the date of exercise of the Warrant.

C = the Warrant Exercise Price then in
effect for the applicable Warrant Shares at the time of such exercise.

In the event of any exercise of the rights
represented by this Warrant in compliance with this Section 2, the Company shall on or before the fifth (5th) Business
Day following the date of receipt of the Exercise Notice, the Aggregate Exercise Price and this Warrant (or an
indemnification undertaking with respect to this Warrant in the case of its loss, theft or destruction) and the receipt
of the representations of the holder specified in Section 6 hereof, if requested by the Company (the “Exercise
Delivery Documents”), and if the Common Stock is DTC eligible, credit such aggregate number of shares of Common
Stock to which the holder shall be entitled to the holder’s or its designee’s balance account with The
Depository Trust Company; provided, however, if the holder who submitted the Exercise Notice requested physical delivery
of any or all of the Warrant Shares, or, if the Common Stock is not DTC eligible then the Company shall, on or before
the fifth (5th) Business Day following receipt of the Exercise Delivery Documents, issue and surrender to a common
carrier for overnight delivery to the address specified in the Exercise Notice, a certificate, registered in the name of
the holder, for the number of shares of Common Stock to which the holder shall be entitled pursuant to such request.
Upon delivery of the Exercise Notice and Aggregate Exercise Price referred to in clause (i) or (ii) above the holder of
this Warrant 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. In the case of a dispute as to the determination of the Warrant
Exercise Price, the Closing Bid Price or the arithmetic calculation of the Warrant Shares, the Company shall promptly
issue to the holder the number of Warrant Shares that is not disputed and shall submit the disputed determinations or
arithmetic calculations to the holder via facsimile within one (1) Business Day of receipt of the holder’s Exercise
Notice.

4

(b) If the holder and the Company are
unable to agree upon the determination of the Warrant Exercise Price or arithmetic calculation of the Warrant Shares
within one (1) day of such disputed determination or arithmetic calculation being submitted to the holder, then the
Company shall immediately submit via facsimile (i) the disputed determination of the Warrant Exercise Price or the
Closing Bid Price to an independent, reputable investment banking firm or (ii) the disputed arithmetic calculation of
the Warrant Shares to its independent, outside accountant. The Company shall cause the investment banking firm or the
accountant, as the case may be, to perform the determinations or calculations and notify the Company and the holder of
the results no later than forty-eight (48) hours from the time it receives the disputed determinations or calculations.
Such investment banking firm’s or accountant’s determination or calculation, as the case may be, shall be
deemed conclusive absent manifest error.

(c) Unless the rights represented by this
Warrant shall have expired or shall have been fully exercised, the Company shall, as soon as practicable and in no event
later than five (5) Business Days after any exercise and at its own expense, issue a new Warrant identical in all
respects to this Warrant exercised except it shall represent rights to purchase the number of Warrant Shares purchasable
immediately prior to such exercise under this Warrant exercised, less the number of Warrant Shares with respect to which
such Warrant is exercised.

(d) No fractional Warrant Shares are to be
issued upon any pro rata exercise of this Warrant, but rather the number of Warrant Shares issued upon such exercise of
this Warrant shall be rounded up or down to the nearest whole number.

(e) If the Company or its Transfer Agent
shall fail for any reason or for no reason to issue to the holder within ten (10) days of receipt of the Exercise
Delivery Documents, a certificate for the number of Warrant Shares to which the holder is entitled or to credit the
holder’s balance account with The Depository Trust Company for such number of Warrant Shares to which the holder is
entitled upon the holder’s exercise of this Warrant, the Company shall, in addition to any other remedies under
this Warrant or otherwise available to such holder, pay as additional damages in cash to such holder on each day the
issuance of such certificate for Warrant Shares is not timely effected an amount equal to 0.025% of the product of (A)
the sum of the number of Warrant Shares not issued to the holder on a timely basis and to which the holder is entitled,
and (B) the Closing Bid Price of the Common Stock for the trading day immediately preceding the last possible date which
the Company could have issued such Common Stock to the holder without violating this Section 2.

5

(f) If within ten (10) days after the
Company’s receipt of the Exercise Delivery Documents, the Company fails to deliver a new Warrant to the holder for
the number of Warrant Shares to which such holder is entitled pursuant to Section 2 hereof, then, in addition to any
other available remedies under this Warrant, or otherwise available to such holder, the Company shall pay as additional
damages in cash to such holder on each day after such tenth (10th) day that such delivery of such new Warrant is not
timely effected in an amount equal to 0.25% of the product of (A) the number of Warrant Shares represented by the
portion of this Warrant which is not being exercised and (B) the Closing Bid Price of the Common Stock for the trading
day immediately preceding the last possible date which the Company could have issued such Warrant to the holder without
violating this Section 2.

Section 3. Covenants as to Common
Stock. The Company hereby covenants and agrees as follows:

(a) This Warrant is, and any Warrants
issued in substitution for or replacement of this Warrant will upon issuance be, duly authorized and validly
issued.

(b) All Warrant Shares which may be issued
upon the exercise of the rights represented by this Warrant will, upon issuance, be validly issued, fully paid and
nonassessable and free from all taxes, liens and charges with respect to the issue thereof.

(c) During the period within which the
rights represented by this Warrant may be exercised, the Company will at all times have authorized and reserved at least
one hundred percent (100%) of the number of shares of Common Stock needed to provide for the exercise of the rights then
represented by this Warrant and the par value of said shares will at all times be less than or equal to the applicable
Warrant Exercise Price. If at any time the Company does not have a sufficient number of shares of Common Stock
authorized and available, then the Company shall call and hold a special meeting of its stockholders within sixty (60)
days of that time for the sole purpose of increasing the number of authorized shares of Common Stock.

(d) If at any time after the date hereof
the Company shall file a registration statement, the Company shall include the Warrant Shares issuable to the holder,
pursuant to the terms of this Warrant and shall maintain, so long as any other shares of Common Stock shall be so
listed, such listing of all Warrant Shares from time to time issuable upon the exercise of this Warrant; and the Company
shall so list on each national securities exchange or automated quotation system, as the case may be, and shall maintain
such listing of, any other shares of capital stock of the Company issuable upon the exercise of this Warrant if and so
long as any shares of the same class shall be listed on such national securities exchange or automated quotation
system.

(e) The Company will not, by amendment of
its Articles 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 to be observed or performed by it hereunder, but will at all times in good faith assist in the carrying out
of all the provisions of this Warrant and in the taking of all such action as may reasonably be requested by the holder
of this Warrant in order to protect the exercise privilege of the holder of this Warrant against dilution or other
impairment, consistent with the tenor and purpose of this Warrant. The Company will not increase the par value of any
shares of Common Stock receivable upon the exercise of this Warrant above the Warrant Exercise Price then in effect, and
(ii) will take all such actions as may be necessary or appropriate in order that the Company may validly and legally
issue fully paid and nonassessable shares of Common Stock upon the exercise of this Warrant.

6

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

Section 4. Taxes. The Company shall
pay any and all taxes, except any applicable withholding, which may be payable with respect to the issuance and delivery
of Warrant Shares upon exercise of this Warrant.

Section 5. Warrant Holder Not Deemed a
Stockholder. Except as otherwise specifically provided herein, no holder, as such, of this Warrant shall be entitled
to vote or receive dividends or be deemed the holder of shares of capital stock of the Company for any purpose, nor
shall anything contained in this Warrant be construed to confer upon the holder hereof, as such, any of the rights of a
stockholder of the Company or any right to vote, give or withhold consent to any corporate action (whether any
reorganization, issue of stock, reclassification of stock, consolidation, merger, conveyance or otherwise), receive
notice of meetings, receive dividends or subscription rights, or otherwise, prior to the issuance to the holder of this
Warrant of the Warrant Shares which he or she is then entitled to receive upon the due exercise of this Warrant. In
addition, nothing contained in this Warrant shall be construed as imposing any liabilities on such holder to purchase
any securities (upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities
are asserted by the Company or by creditors of the Company. Notwithstanding this Section 5, the Company will provide the
holder of this Warrant with copies of the same notices and other information given to the stockholders of the Company
generally, contemporaneously with the giving thereof to the stockholders.

Section 6. Representations of Holder.
The holder of this Warrant, by the acceptance hereof, represents that it is acquiring this Warrant and the Warrant
Shares for its own account for investment only and not with a view towards, or for resale in connection with, the public
sale or distribution of this Warrant or the Warrant Shares, except pursuant to sales registered or exempted under the
Securities Act; provided, however, that by making the representations herein, the holder does not agree to hold this
Warrant or any of the Warrant Shares for any minimum or other specific term and reserves the right to dispose of this
Warrant and the Warrant Shares at any time in accordance with or pursuant to a registration statement or an exemption
under the Securities Act. The holder of this Warrant further represents, by acceptance hereof, that, as of this date,
such holder is an “accredited investor” as such term is defined in Rule 501(a)(1) of Regulation D promulgated
by the Securities and Exchange Commission under the Securities Act (an “Accredited Investor”). Upon
exercise of this Warrant the holder shall, if requested by the Company, confirm in writing, in a form satisfactory to
the Company, that the Warrant Shares so purchased are being acquired solely for the holder’s own account and not as
a nominee for any other party, for investment, and not with a view toward distribution or resale and that such holder is
an Accredited Investor. If such holder cannot make such representations because they would be factually incorrect, it
shall be a condition to such holder’s exercise of this Warrant that the Company receive such other representations
as the Company considers reasonably necessary to assure the Company that the issuance of its securities upon exercise of
this Warrant shall not violate any United States or state securities laws.

7

Section 7.
Ownership and Transfer.

(a) 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. The Company may treat the person in
whose name any Warrant is registered on the register as the owner and holder thereof for all purposes, notwithstanding
any notice to the contrary, but in all events recognizing any transfers made in accordance with the terms of this
Warrant.

Section 8. Adjustment of Warrant Exercise
Price and Number of Shares. The Warrant Exercise Price and the number of shares of Common Stock issuable upon
exercise of this Warrant shall be adjusted from time to time as follows:

(a) Adjustment of Warrant Exercise Price
and Number of Shares upon Issuance of Common Stock. If and whenever on or after the Issuance Date of this Warrant,
the Company issues or sells, or is deemed to have issued or sold, any shares of Common Stock (other than Excluded
Securities) for a consideration per share less than a price (the “Applicable Price”) equal to the
Warrant Exercise Price in effect immediately prior to such issuance or sale, then immediately after such issue or sale
the Warrant Exercise Price then in effect shall be reduced to an amount equal to such consideration per share. Upon each
such adjustment of the Warrant Exercise Price hereunder, the number of Warrant Shares issuable upon exercise of this
Warrant shall be adjusted to the number of shares determined by multiplying the Warrant Exercise Price in effect
immediately prior to such adjustment by the number of Warrant Shares issuable upon exercise of this Warrant immediately
prior to such adjustment and dividing the product thereof by the Warrant Exercise Price resulting from such
adjustment.

(b) Effect on Warrant Exercise Price of
Certain Events. For purposes of determining the adjusted Warrant Exercise Price under Section 8(a) above, the
following shall be applicable:

(i) Issuance of
Options. If after the date hereof, the Company in any manner grants any Options and the lowest price per share for
which one share of Common Stock is issuable upon the exercise of any such Option or upon conversion or exchange of any
convertible securities issuable upon exercise of any such Option is less than the Applicable Price, then such share of
Common Stock shall be deemed to be outstanding and to have been issued and sold by the Company at the time of the
granting or sale of such Option for such price per share. For purposes of this Section 8(b)(i), the lowest price per
share for which one share of Common Stock is issuable upon exercise of such Options or upon conversion or exchange of
such Convertible Securities shall be equal to the sum of the lowest amounts of consideration (if any) received or
receivable by the Company with respect to any one share of Common Stock upon the granting or sale of the Option, upon
exercise of the Option or upon conversion or exchange of any convertible security issuable upon exercise of such Option.
No further adjustment of the Warrant Exercise Price shall be made upon the actual issuance of such Common Stock or of
such convertible securities upon the exercise of such Options or upon the actual issuance of such Common Stock upon
conversion or exchange of such convertible securities.

8

(ii) Issuance of
Convertible Securities. If the Company in any manner issues or sells any convertible securities and the lowest price
per share for which one share of Common Stock is issuable upon the conversion or exchange thereof is less than the
Applicable Price, then such share of Common Stock shall be deemed to be outstanding and to have been issued and sold by
the Company at the time of the issuance or sale of such convertible securities for such price per share. For the
purposes of this Section 8(b)(ii), the lowest price per share for which one share of Common Stock is issuable upon such
conversion or exchange shall be equal to the sum of the lowest amounts of consideration (if any) received or receivable
by the Company with respect to one share of Common Stock upon the issuance or sale of the convertible security and upon
conversion or exchange of such convertible security. No further adjustment of the Warrant Exercise Price shall be made
upon the actual issuance of such Common Stock upon conversion or exchange of such convertible securities, and if any
such issue or sale of such convertible securities is made upon exercise of any Options for which adjustment of the
Warrant Exercise Price had been or are to be made pursuant to other provisions of this Section 8(b), no further
adjustment of the Warrant Exercise Price shall be made by reason of such issue or sale.

(iii) Change in Option
Price or Rate of Conversion. If the purchase price provided for in any Options, the additional consideration, if
any, payable upon the issue, conversion or exchange of any convertible securities, or the rate at which any convertible
securities are convertible into or exchangeable for Common Stock changes at any time, the Warrant Exercise Price in
effect at the time of such change shall be adjusted to the Warrant Exercise Price which would have been in effect at
such time had such Options or convertible securities provided for such changed purchase price, additional consideration
or changed conversion rate, as the case may be, at the time initially granted, issued or sold and the number of Warrant
Shares issuable upon exercise of this Warrant shall be correspondingly readjusted. For purposes of this Section
8(b)(iii), if the terms of any Option or convertible security that was outstanding as of the Issuance Date of this
Warrant are changed in the manner described in the immediately preceding sentence, then such Option or convertible
security and the Common Stock deemed issuable upon exercise, conversion or exchange thereof shall be deemed to have been
issued as of the date of such change. No adjustment pursuant to this Section 8(b) shall be made if such adjustment would
result in an increase of the Warrant Exercise Price then in effect.

(iv) Calculation of
Consideration Received. If any Common Stock, Options or convertible securities are issued or sold or deemed to have
been issued or sold for cash, the consideration received therefore will be deemed to be the net amount received by the
Company therefore. If any Common Stock, Options or convertible securities are issued or sold for a consideration other
than cash, the amount of such consideration received by the Company will be the fair value of such consideration, except
where such consideration consists of marketable securities, in which case the amount of consideration received by the
Company will be the market price of such securities on the date of receipt of such securities. If any Common Stock,
Options or convertible securities are issued to the owners of the non-surviving entity in connection with any merger in
which the Company is the surviving entity, the amount of consideration therefore will be deemed to be the fair value of
such portion of the net assets and business of the non-surviving entity as is attributable to such Common Stock, Options
or convertible securities, as the case may be. The fair value of any consideration other than cash or securities will be
determined jointly by the Company and the holders of Warrants representing at least two-thirds (b) of the Warrant Shares
issuable upon exercise of the Warrants then outstanding. If such parties are unable to reach agreement within ten (10)
days after the occurrence of an event requiring valuation (the “Valuation Event”), the fair value of
such consideration will be determined within five (5) Business Days after the tenth (10th) day following the Valuation
Event by an independent, reputable appraiser jointly selected by the Company and the holders of Warrants representing at
least two-thirds (b) of the Warrant Shares issuable upon exercise of the Warrants then outstanding. The determination of
such appraiser shall be final and binding upon all parties and the fees and expenses of such appraiser shall be borne
jointly by the Company and the holders of Warrants.

9

(v) Integrated
Transactions. In case any Option is issued in connection with the issue or sale of other securities of the Company,
together comprising one integrated transaction in which no specific consideration is allocated to such Options by the
parties thereto, the Options will be deemed to have been issued for a consideration of $.01.

(vi) Treasury
Shares. The number of shares of Common Stock outstanding at any given time does not include shares owned or held by
or for the account of the Company, and the disposition of any shares so owned or held will be considered an issue or
sale of Common Stock.

(vii) Record Date.
If the Company takes a record of the holders of Common Stock for the purpose of entitling them (1) to receive a dividend
or other distribution payable in Common Stock, Options or in convertible securities or (2) to subscribe for or purchase
Common Stock, Options or convertible securities, then such record date will be deemed to be the date of the issue or
sale of the shares of Common Stock deemed to have been issued or sold upon the declaration of such dividend or the
making of such other distribution or the date of the granting of such right of subscription or purchase, as the case may
be.

(c) Adjustment of Warrant Exercise Price
upon Subdivision or Combination of Common Stock. If the Company at any time after the date of issuance of this
Warrant subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its
outstanding shares of Common Stock into a greater number of shares, any Warrant Exercise Price in effect immediately
prior to such subdivision will be proportionately reduced and the number of shares of Common Stock obtainable upon
exercise of this Warrant will be proportionately increased. If the Company at any time after the date of issuance of
this Warrant combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding shares
of Common Stock into a smaller number of shares, any Warrant Exercise Price in effect immediately prior to such
combination will be proportionately increased and the number of Warrant Shares issuable upon exercise of this Warrant
will be proportionately decreased. Any adjustment under this Section 8(c) shall become effective at the close of
business on the date the subdivision or combination becomes effective.

10

(d) Distribution of Assets. If the
Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to
holders of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of
cash, stock or other securities, property or options by way of a dividend, spin off, reclassification, corporate
rearrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this
Warrant, then, in each such case:

(i) any Warrant Exercise Price in effect
immediately prior to the close of business on the record date fixed for the determination of holders of Common Stock
entitled to receive the Distribution shall be reduced, effective as of the close of business on such record date, to a
price determined by multiplying such Warrant Exercise Price by a fraction of which (A) the numerator shall be the
Closing Sale Price of the Common Stock on the trading day immediately preceding such record date minus the value of the
Distribution (as determined in good faith by the Company’s Board of Directors) applicable to one share of Common
Stock, and (B) the denominator shall be the Closing Sale Price of the Common Stock on the trading day immediately
preceding such record date; and

(ii) either (A) the number of Warrant
Shares obtainable upon exercise of this Warrant shall be increased to a number of shares equal to the number of shares
of Common Stock obtainable immediately prior to the close of business on the record date fixed for the determination of
holders of Common Stock entitled to receive the Distribution multiplied by the reciprocal of the fraction set forth in
the immediately preceding clause (i), or (B) in the event that the Distribution is of common stock of a company whose
common stock is traded on a national securities exchange or a national automated quotation system, then the holder of
this Warrant shall receive an additional warrant to purchase Common Stock, the terms of which shall be identical to
those of this Warrant, except that such warrant shall be exercisable into the amount of the assets that would have been
payable to the holder of this Warrant pursuant to the Distribution had the holder exercised this Warrant immediately
prior to such record date and with an exercise price equal to the amount by which the exercise price of this Warrant was
decreased with respect to the Distribution pursuant to the terms of the immediately preceding clause (i).

(e) Certain Events. If any event
occurs of the type contemplated by the provisions of this Section 8 but not expressly provided for by such provisions
(including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights with
equity features), then the Company’s Board of Directors will make an appropriate adjustment in the Warrant Exercise
Price and the number of shares of Common Stock obtainable upon exercise of this Warrant so as to protect the rights of
the holders of the Warrants; provided, except as set forth in section 8(c),that no such adjustment pursuant to this
Section 8(e) will increase the Warrant Exercise Price or decrease the number of shares of Common Stock obtainable as
otherwise determined pursuant to this Section 8.

11

(f) Voluntary Adjustments By
Company. The Company may at any time during the term of this Warrant reduce the then current Exercise Price to any
amount and for any period of time deemed appropriate by the Board of Directors of the Company.

(g) Notices.

(i) Immediately upon any adjustment of the
Warrant Exercise Price, the Company will give written notice thereof to the holder of this Warrant, setting forth in
reasonable detail, and certifying, the calculation of such adjustment.

(ii) The Company will give written notice
to the holder of this Warrant at least ten (10) days prior to the date on which the Company closes its books or takes a
record (A) with respect to any dividend or distribution upon the Common Stock, (B) with respect to any pro rata
subscription offer to holders of Common Stock or (C) for determining rights to vote with respect to any Organic Change
(as defined below), dissolution or liquidation, provided that such information shall be made known to the public prior
to or in conjunction with such notice being provided to such holder.

(iii) The Company will also give written
notice to the holder of this Warrant at least ten (10) days prior to the date on which any Organic Change, dissolution
or liquidation will take place, provided that such information shall be made known to the public prior to or in
conjunction with such notice being provided to such holder.

Section 9.
Purchase Rights; Reorganization, Reclassification, Consolidation, Merger or Sale.

(a) In addition to any adjustments pursuant
to Section 8 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to
purchase stock, warrants, securities or other property pro rata to the record holders of any class of Common Stock (the
“Purchase Rights”), then the holder of this Warrant will be entitled to acquire, upon the terms
applicable to such Purchase Rights, the aggregate Purchase Rights which such holder could have acquired if such holder
had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant immediately before the
date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken,
the date as of which the record holders of Common Stock are to be determined for the grant, issue or sale of such
Purchase Rights.

(b) Any recapitalization, reorganization,
reclassification, consolidation, merger, sale of all or substantially all of the Company’s assets to another Person
or other transaction in each case which is effected in such a way that holders of Common Stock are entitled to receive
(either directly or upon subsequent liquidation) stock, securities or assets with respect to or in exchange for Common
Stock is referred to herein as an “Organic Change.” Prior to the consummation of any (i) sale of all or
substantially all of the Company’s assets to an acquiring Person or (ii) other Organic Change following which the
Company is not a surviving entity, the Company will secure from the Person purchasing such assets or the successor
resulting from such Organic Change (in each case, the “Acquiring Entity”) a written agreement (in form
and substance satisfactory to the holders of Warrants representing at least two-thirds (iii) of the Warrant Shares
issuable upon exercise of the Warrants then outstanding) to deliver to each holder of Warrants in exchange for such
Warrants, a security of the Acquiring Entity evidenced by a written instrument substantially similar in form and
substance to this Warrant and satisfactory to the holders of the Warrants (including an adjusted warrant exercise price
equal to the value for the Common Stock reflected by the terms of such consolidation, merger or sale, and exercisable
for a corresponding number of shares of Common Stock acquirable and receivable upon exercise of the Warrants without
regard to any limitations on exercise, if the value so reflected is less than any Applicable Warrant Exercise Price
immediately prior to such consolidation, merger or sale). Prior to the consummation of any other Organic Change, the
Company shall make appropriate provision (in form and substance satisfactory to the holders of Warrants representing a
majority of the Warrant Shares issuable upon exercise of the Warrants then outstanding) to insure that each of the
holders of the Warrants will thereafter have the right to acquire and receive in lieu of or in addition to (as the case
may be) the Warrant Shares immediately theretofore issuable and receivable upon the exercise of such holder’s
Warrants (without regard to any limitations on exercise), such shares of stock, securities or assets that would have
been issued or payable in such Organic Change with respect to or in exchange for the number of Warrant Shares which
would have been issuable and receivable upon the exercise of such holder’s Warrant as of the date of such Organic
Change (without taking into account any limitations or restrictions on the exercisability of this Warrant).

12

Section 10. Lost, Stolen, Mutilated or
Destroyed Warrant. If this Warrant is lost, stolen, mutilated or destroyed, the Company shall promptly, on receipt
of an indemnification undertaking (or, in the case of a mutilated Warrant, the Warrant), issue a new Warrant of like
denomination and tenor as this Warrant so lost, stolen, mutilated or destroyed.

Section 11. Notice. Any notices,
consents, waivers or other communications required or permitted to be given under the terms of this Warrant must be in
writing and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when
sent by facsimile (provided confirmation of receipt is received by the sending party transmission is mechanically or
electronically generated and kept on file by the sending party); or (iii) one Business Day after deposit with a
nationally recognized overnight delivery service, in each case properly addressed to the party to receive the same. The
addresses and facsimile numbers for such communications shall be:

	If to Holder:	Cornell Capital Partners, LP
101 Hudson Street – Suite 3700
Jersey City, NJ
07302
Attention: Mark A. Angelo
Telephone: (201) 985-8300
Facsimile: (201) 985-8266
	With Copy to:	Troy Rillo, Esq.
101 Hudson Street – Suite 3700
Jersey City, NJ 07302
Telephone: (201)
985-8300
Facsimile: (201) 985-8266

13

	If to the Company, to:	U.S. Helicopter Corporation
6 East River Piers
Suite 216
Downtown Manhattan Heliport
New York,
NY 10004
Attention: Chief Executive Officer
Telephone: (212) 248-2002
Facsimile: (212) 248-0940
	With a copy to:	Gallagher, Briody & Butler
Princeton Forrestal Village
155 Village Boulevard
Suite
201
Princeton, NJ 08540
Attention: Thomas P. Gallagher, Esq.
Telephone: (609) 452-6000
Facsimile:
(609) 452-0090

If to a holder of this Warrant, to it at the address and
facsimile number set forth on Exhibit C hereto, with copies to such holder’s representatives as set forth on
Exhibit C, or at such other address and facsimile as shall be delivered to the Company upon the issuance or
transfer of this Warrant. Each party shall provide five days’ prior written notice to the other party of any change
in address or facsimile number. Written confirmation of receipt (A) given by the recipient of such notice, consent,
facsimile, waiver or other communication, (or (B) provided by a nationally recognized overnight delivery service shall
be rebuttable evidence of personal service, receipt by facsimile or receipt from a nationally recognized overnight
delivery service in accordance with clause (i), (ii) or (iii) above, respectively.

Section 12. Date. The date of this
Warrant is set forth on page 1 hereof. This Warrant, in all events, shall be wholly void and of no effect after the
close of business on the Expiration Date, except that notwithstanding any other provisions hereof, the provisions of
Section 8(b) shall continue in full force and effect after such date as to any Warrant Shares or other securities issued
upon the exercise of this Warrant.

Section 13. Amendment and Waiver.
Except as otherwise provided herein, the provisions of the Warrants may be amended and the Company may take any action
herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained
the written consent of the holders of Warrants representing at least two-thirds of the Warrant Shares issuable upon
exercise of the Warrants then outstanding; provided that, except for Section 8(d), no such action may increase the
Warrant Exercise Price or decrease the number of shares or class of stock obtainable upon exercise of any Warrant
without the written consent of the holder of such Warrant.

Section 14. Descriptive Headings;
Governing Law. The descriptive headings of the several sections and paragraphs of this Warrant are inserted for
convenience only and do not constitute a part of this Warrant. The corporate laws of the State of Delaware shall govern
all issues concerning the relative rights of the Company and its stockholders. All other questions concerning the
construction, validity, enforcement and interpretation of this Agreement shall be governed by the internal laws of the
State of New Jersey, without giving effect to any choice of law or conflict of law provision or rule (whether of the
State of New Jersey or any other jurisdictions) that would cause the application of the laws of any jurisdictions other
than the State of New Jersey. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and
federal courts sitting in Hudson County and the United States District Court for the District of New Jersey, for the
adjudication of any dispute hereunder or in connection herewith or therewith, or with any transaction contemplated
hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding,
any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding
is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Each party hereby
irrevocably waives personal service of process and consents to process being served in any such suit, action or
proceeding by mailing a copy thereof to such party at the address for such notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any manner permitted by law.

14

Section 15. Waiver of Jury Trial.
AS A MATERIAL INDUCEMENT FOR EACH PARTY HERETO TO ENTER INTO THIS WARRANT, THE PARTIES HERETO HEREBY WAIVE ANY RIGHT
TO TRIAL BY JURY IN ANY LEGAL PROCEEDING RELATED IN ANY WAY TO THIS WARRANT AND/OR ANY AND ALL OF THE OTHER DOCUMENTS
ASSOCIATED WITH THIS TRANSACTION.

REMAINDER OF PAGE INTENTIONALLY LEFT BLANK

15

IN WITNESS WHEREOF, the Company has
caused this Warrant to be signed as of the date first set forth above.

U.S. HELICOPTER CORPORATION

By: /s/ George J. Mehm, Jr.
George J. Mehm, Jr.

Chief Financial Officer, Sr. Vice President and
Treasurer

16

EXHIBIT A TO WARRANT

EXERCISE NOTICE

TO BE EXECUTED
BY THE REGISTERED HOLDER TO EXERCISE
THIS WARRANT

U.S. HELICOPTER CORPORATION

The undersigned holder hereby exercises the
right to purchase ______________ of the shares of Common Stock (“Warrant Shares”) of U.S. Helicopter
Corporation (the “Company”), evidenced by the attached Warrant (the “Warrant”).
Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the
Warrant.

Specify Method of exercise by check mark:

1. ___ Cash Exercise

(a) Payment of Warrant Exercise
Price. The holder shall pay the Aggregate Exercise Price of $______________ to the Company in accordance with the
terms of the Warrant.

(b) Delivery of Warrant Shares. The
Company shall deliver to the holder _________ Warrant Shares in accordance with the terms of the Warrant.

2. ___ Cashless Exercise

(a) Payment of Warrant Exercise
Price. In lieu of making payment of the Aggregate Exercise Price, the holder elects to receive upon such exercise
the Net Number of shares of Common Stock determined in accordance with the terms of the Warrant.

(b) Delivery of Warrant Shares. The
Company shall deliver to the holder _________ Warrant Shares in accordance with the terms of the Warrant.

Date: _______________ __, ______

Name of Registered Holder

By:____________________________
Name:__________________________
Title:___________________________

EXHIBIT B TO WARRANT

FORM OF WARRANT POWER

FOR VALUE RECEIVED, the undersigned
does hereby assign and transfer to ________________, Federal Identification No. __________, a warrant to purchase
____________ shares of the capital stock of U.S. Helicopter Corporation represented by warrant certificate no. _____,
standing in the name of the undersigned on the books of said corporation. The undersigned does hereby irrevocably
constitute and appoint ______________, attorney to transfer the warrants of said corporation, with full power of
substitution in the premises.

	Dated:__________________________	______________________________
	 	By:____________________________
Name:__________________________
Title:___________________________

B-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00123-of-00352.parquet"}]]