Document:

Exhibit 10.37

 

EXHIBIT C

 

SECURITIES
PURCHASE AGREEMENT

  

THIS
WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED. THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED
OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS WARRANT UNDER SUCH ACT AND ANY APPLICABLE STATE
SECURITIES LAW OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO ELECTROMEDICAL TECHNOLOGIES, INC. THAT SUCH REGISTRATION
IS NOT REQUIRED.

 

ELECTROMEDICAL
TECHNOLOGIES, INC.

 

WARRANT
TO PURCHASE SHARES OF COMMON STOCK

 

1.             Issuance.
In consideration of good and valuable consideration as set forth in the Purchase Agreement (defined below), including without
limitation the Purchase Price (as defined in the Purchase Agreement), the receipt and sufficiency of which are hereby acknowledged
by ELECTROMEDICAL TECHNOLOGIES, INC., a Colorado corporation (the “Company”); VISTA CAPITAL INVESTMENTS,
LLC, its successors and/or registered assigns (the “Holder”), is hereby granted the right to purchase at any
time on or after the Issue Date (as defined below) until the date which is the last calendar day of the month in which the third
anniversary of the Issue Date occurs (the “Expiration Date”), 250,000 fully paid and nonassessable shares (the
“Warrant Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”),
as such number of Warrant Shares may be adjusted from time to time pursuant to the terms and conditions of this Warrant to Purchase
Shares of Common Stock (this “Warrant”). This Warrant is being issued pursuant to the terms of that certain
Securities Purchase Agreement dated June 4, 2020, to which the Company and the Holder are parties (as the same may be amended
from time to time, the “Purchase Agreement”).

 

Unless
otherwise indicated herein, capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Purchase
Agreement.

 

This
Warrant was originally issued to the Holder on June 4, 2020 (the “Issue Date”).

 

  2.            Exercise of Warrant.

 

 2.1.            General.

 

(a)            This
Warrant is exercisable in whole or in part at any time and from time to time commencing on the Issue Date and ending on the Expiration
Date. Such exercise shall be effectuated by submitting to the Company (either by delivery to the Company or by email or facsimile
transmission) a completed and duly executed Notice of Exercise substantially in the form attached to this Warrant as Exhibit A
(the “Notice of Exercise”). The date such Notice of Exercise is either faxed, emailed or delivered to the
Company shall be the “Exercise Date,” provided that, if such exercise represents the full exercise of the outstanding
balance of the Warrant, the Holder shall tender this Warrant to the Company within five (5) Trading Days thereafter, but
only if the Warrant Shares to be delivered pursuant to the Notice of Exercise have been delivered to the Holder as of such date.
The Notice of Exercise shall be executed by the Holder and shall indicate (i) the number of Warrant Shares (as defined below)
to be issued pursuant to such exercise, and (ii) if applicable (as provided below), whether the exercise is a cashless exercise.

  

     1

     

    

For
purposes of this Warrant, the term “Trading Day” means any day during which the principal market on which the
Common Stock is traded (the “Principal Market”) shall be open for business. (b)  To the extent this Warrant
is not previously exercised, and if the Market Price of one Warrant Share is greater than the Exercise Price, the Holder may elect
to receive Warrant Shares, in lieu of a cash exercise, equal to the value of this Warrant determined in the manner described below
(or of any portion thereof remaining unexercised) by surrender of this Warrant and a Notice of Exercise, in which event the Company
shall issue to Holder a number of Shares computed using the following formula:

 

	 	X	= Y (A-B)

 

A

 

	Where
    X	=	the number of Warrant Shares to be issued to
    Holder.

 

	Y	=	the
    number of Warrant Shares that the Holder elects to purchase under this Warrant (at the date of such calculation).

 

	 	A	=	the Market Price
    (at the date of such calculation).

 

	 	B	=	Exercise Price (as
    adjusted to the date of such calculation).

 

For
the purposes of this Warrant, the following terms shall have the following meanings:

 

“Affiliate”
shall mean an affiliate as such term is defined in Rule 144 under the Securities Act of 1933, as amended (or a successor
rule).

 

“Aggregate
Exercise Price Payable” shall mean the product of multiplying the number of Warrant Shares exercisable by the Exercise
Price.

 

“Closing
Price” shall mean the 4:00 P.M. last sale price of the Common Stock on the Principal Market on the relevant Trading
Day(s), as reported by Bloomberg LP (or if that service is not then reporting the relevant information regarding the Common Stock,
a comparable reporting service of national reputation selected by the Holder and reasonably acceptable to the Company) (“Bloomberg”)
for the relevant date.

 

“Deemed
Issuance” means a requested conversion under the Note that is not honored by the Company.

 

“Exercise
Price” shall mean $1.00 per share of Common Stock, subject to adjustments herein.

 

“Market
Price” shall mean the Closing Price for the Common Stock on the Trading Day that is two Trading Days prior to the Exercise
Date.

 

“Note”
shall mean that certain Convertible Promissory Note issued by the Company to the Holder pursuant to the Purchase Agreement, as
the same may be amended from time to time, and including any promissory note(s) that replace or are exchanged for such referenced
promissory note.

 

     2

     

    

 

(c)            If
the Notice of Exercise form elects a “cash” exercise (or if the cashless exercise referred to in the immediately preceding
subsection (b) is not available in accordance with the terms hereof), the Exercise Price per share of Common Stock for the
Warrant Shares shall be payable, at the election of the Holder, in cash or by certified or official bank check or by wire transfer
in accordance with instructions provided by the Company at the request of the Holder.

 

(d)            Upon
the appropriate payment to the Company, if any, of the Exercise Price for the Warrant Shares, together with the surrender of this
Warrant (if required), the Company shall promptly, but in no case later than the date that is three (3) Trading Days following
the date the Exercise Price is paid to the Company (or with respect to a “cashless exercise,” the date that is three
(3) Trading Days following the Exercise Date) (the “Delivery Date”), provided that all DWAC Eligible Conditions
(as defined in the Note) are then satisfied, deliver or cause the Company’s Transfer Agent to deliver the applicable Warrant
Shares electronically via the Deposit/Withdrawal at Custodian (“DWAC”) system to the account designated by
the Holder on the Notice of Exercise. If all DWAC Eligible Conditions are not then satisfied, the Company shall instead issue
and deliver or cause to be issued and delivered (via reputable overnight courier) to the address as specified in the Notice of
Exercise, a certificate, registered in the name of the Holder or its designee, for the number of Warrant Shares to which the Holder
shall be entitled. For the avoidance of doubt, the Company has not met its obligation to deliver Warrant Shares by the Delivery
Date unless the Transfer Agent has posted the shares for DWAC pickup and the Holder or its broker, as applicable, has been notified
of this availability, or if the DWAC Eligible Conditions are not then satisfied, has actually received the certificate representing
the applicable Warrant Shares no later than the close of business on the relevant Delivery Date pursuant to the terms set forth
above.

 

(e)            If
Warrant Shares are delivered later than as required under subsection (d) immediately above, the Company agrees to pay, in
addition to all other remedies available to the Holder in the Transaction Documents, a late charge equal to the greater of (i) $2,000.00
and (ii) 2% of the product of (1) the sum of the number of shares of Common Stock not issued to the Holder on a timely
basis and to which the Holder is entitled multiplied by (2) the Closing Price of the Common Stock on the Trading Day immediately
preceding the last possible date which the Company could have issued such shares of Common Stock to the Holder without violating
this Warrant, per Trading Day until such Warrant Shares are delivered. The Company shall pay any late charges incurred under this
subsection in immediately available funds upon demand; provided, however, that, at the option of the Holder (without notice
to the Company), such amount owed may be added to the principal amount of the Note. Furthermore, in addition to any other remedies
which may be available to the Holder, in the event that the Company fails for any reason to effect delivery of the Warrant Shares
as required under subsection (d) immediately above, the Holder may revoke all or part of the relevant Warrant exercise by
delivery of a notice to such effect to the Company, whereupon the Company and the Holder shall each be restored to their respective
positions immediately prior to the exercise of the relevant portion of this Warrant, except that the late charge described above
shall be payable through the date notice of revocation or rescission is given to the Company.

 

(f)            The
Holder shall be deemed to be the holder of the Warrant Shares issuable to it in accordance with the provisions of this Section 2.1
on the Exercise Date.

 

     3

     

    

 

2.2.         Ownership
Limitation. If at any time after the Closing, the Buyer shall or would receive shares of Common Stock in payment of interest
or principal under Note, upon conversion of Note, under the Warrant, or upon exercise of the Warrant, so that the Buyer would,
together with other shares of Common Stock held by it or its Affiliates, own or beneficially own by virtue of such action or receipt
of additional shares of Common Stock a number of shares exceeding 9.99% of the number of shares of Common Stock outstanding on
such date (the “Maximum Percentage”), the Company shall not be obligated and shall not issue to the Buyer shares
of Common Stock which would exceed the Maximum Percentage, but only until such time as the Maximum Percentage would no longer
be exceeded by any such receipt of shares of Common Stock by the Buyer. The foregoing limitations are enforceable, unconditional
and non-waivable and shall apply to all Affiliates and assigns of the Buyer. Additionally, for so long as the Buyer or any of
its Affiliate own Securities, upon written request from the Buyer, the Company shall post (or cause to be posted), the then-current
number of issued and outstanding shares of its capital stock to the Company’s web page located at OTCmarkets.com (or
such other web page approved by the Buyer).

 

3.            Mutilation
or Loss of Warrant. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation
of this Warrant, and (in the case of loss, theft or destruction) receipt of reasonably satisfactory indemnification, and (in the
case of mutilation) upon surrender and cancellation of this Warrant, the Company will execute and deliver to the Holder a new
Warrant of like tenor and date and any such lost, stolen, destroyed or mutilated Warrant shall thereupon become void.

 

4.            Rights
of the Holder. The Holder shall not, by virtue of this Warrant alone, be entitled to any rights of a stockholder in the Company,
either at law or in equity, and the rights of the Holder with respect to or arising under this Warrant are limited to those expressed
in this Warrant and are not enforceable against the Company except to the extent set forth herein.

 

5.            Certain
Adjustments.

 

5.1.         Capital
Adjustments. If the Company shall at any time prior to the expiration of this Warrant subdivide the Common Stock, by split-up
or stock split, or otherwise, or combine its Common Stock, or issue additional shares of its Common Stock as a dividend, the number
of Warrant Shares issuable upon the exercise of this Warrant shall forthwith be automatically increased proportionately in the
case of a subdivision, split or stock dividend, or proportionately decreased in the case of a combination. Appropriate adjustments
shall also be made to the Exercise Price, Market Price (in the event of a cashless exercise), and other applicable amounts, but
the aggregate purchase price payable for the total number of Warrant Shares purchasable under this Warrant (as adjusted) shall
remain the same. Any adjustment under this Section 5.1 shall become effective automatically at the close of business on the
date the subdivision or combination becomes effective, or as of the record date of such dividend, or in the event that no record
date is fixed, upon the making of such dividend.

 

5.2.         Reclassification,
Reorganization and Consolidation. In case of any reclassification, capital reorganization, or change in the capital stock
of the Company (other than as a result of a subdivision, combination, or stock dividend provided for in Section 5.1 above),
then the Company shall make appropriate provision so that the Holder shall have the right at any time prior to the expiration
of this Warrant to purchase, at a total price equal to that payable upon the exercise of this Warrant, the kind and amount of
shares of stock and other securities and property receivable in connection with such reclassification, reorganization, or change
by a holder of the same number of shares of Common Stock as were purchasable by the Holder immediately prior to such reclassification,
reorganization, or change. In any such case appropriate provisions shall be made with respect to the rights and interest of the
Holder so that the provisions hereof shall thereafter be applicable with respect to any shares of stock or other securities and
property deliverable upon exercise hereof, and appropriate adjustments shall be made to the purchase price per Warrant Share payable
hereunder, provided the aggregate purchase price shall remain the same.

 

     4

     

    

 

5.3.         Dilutive
Issuances. If the Company or any Subsidiary thereof, as applicable, at any time while this Warrant is outstanding, shall sell
or grant any option to purchase, or sell or grant any right to re-price, or otherwise dispose of or issue (or announce any offer,
sale, grant or any option to purchase or other disposition) any Common Stock or Common Stock Equivalents entitling any Person
to acquire shares of Common Stock, at an effective price per share less than the then Exercise Price (such lower price, the “Base
Share Price” and such issuances collectively, a “Dilutive Issuance”) (if the holder of the Common
Stock or Common Stock Equivalents so issued shall at any time, whether by operation of purchase price adjustments, reset provisions,
floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per share which are issued
in connection with such issuance, be entitled to receive shares of Common Stock at an effective price per share which is less
than the Exercise Price, such issuance shall be deemed to have occurred for less than the Exercise Price on such date of the Dilutive
Issuance), then the Exercise Price shall be reduced and only reduced to equal the Base Share Price and the number of Warrant Shares
issuable hereunder shall be increased such that the Aggregate Exercise Price Payable hereunder, after taking into account the
decrease in the Exercise Price, shall be equal to the Aggregate Exercise Price Prior to such adjustment. Such adjustment shall
be made whenever such Common Stock or Common Stock Equivalents are issued. The Company shall notify the Holder in writing, no
later than the Trading Day following the issuance of any Common Stock or Common Stock Equivalents subject to this Section 5.3,
indicating therein the applicable issuance price, or applicable reset price, exchange price, conversion price and other pricing
terms (such notice the “Dilutive Issuance Notice”). For purposes of clarification, whether or not the Company
provides a Dilutive Issuance Notice pursuant to this Section 5.3, upon the occurrence of any Dilutive Issuance, after the
date of such Dilutive Issuance the Holder is entitled to receive a number of Warrant Shares based upon the Base Share Price regardless
of whether the Holder accurately refers to the Base Share Price in the Notice of Exercise. Notice of Adjustment. Without
limiting any other provision contained herein, when any adjustment is required to be made in the number or kind of shares purchasable
upon exercise of this Warrant, or in the Exercise Price, pursuant to the terms hereof, the Company shall promptly notify the Holder
of such event and of the number of Warrant Shares or other securities or property thereafter purchasable upon exercise of this
Warrant.

 

5.4.         [Reserved]

 

6.            Certificate
as to Adjustments. In each case of any adjustment or readjustment in the shares of Common Stock issuable on the exercise of
this Warrant, the Company at its expense will promptly cause its Chief Financial Officer or other appropriate designee to compute
such adjustment or readjustment in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment
or readjustment and showing in detail the facts upon which such adjustment or readjustment is based, including a statement of
(a) the consideration received or receivable by the Company for any additional shares of Common Stock issued or sold or deemed
to have been issued or sold, (b) the number of shares of Common Stock outstanding or deemed to be outstanding, and (c) the
Exercise Price and the number of shares of Common Stock to be received upon exercise of this Warrant, in effect immediately prior
to such adjustment or readjustment and as adjusted or readjusted as provided in this Warrant. The Company will forthwith mail
a copy of each such certificate to the Holder and any Warrant Agent (as defined below) appointed pursuant to Section 8 hereof.
Nothing in this Section 6 shall be deemed to limit any other provision contained herein.

 

     5

     

    

 

7.            Transfer
to Comply with the Securities Act. This Warrant, and the Warrant Shares, have not been registered under the 1933 Act. This
Warrant, the Warrant Shares and any other security issued or issuable upon exercise of this Warrant may only be sold, transferred,
pledged or hypothecated (other than to an Affiliate) if (a) there exists an effective registration statement under the 1933
Act relating to such security or (b) the Company has received an opinion of counsel reasonably satisfactory to the Company
that registration is not required under the 1933 Act. Until such time as registration has occurred under the 1933 Act, each certificate
for this Warrant, the Warrant Shares and any other security issued or issuable upon exercise of this Warrant shall contain a legend,
in form and substance satisfactory to counsel for the Company, setting forth the restrictions on transfer contained in this Section 7.
Any such transfer shall be accompanied by a transferor assignment substantially in the form attached to this Warrant as Exhibit B
(the “Transferor Assignment”), executed by the transferor and the transferee and submitted to the Company.
Upon receipt of the duly executed Transferor Assignment, the Company shall register the transferee thereon as the new Holder on
the books and records of the Company and such transferee shall be deemed a “registered holder” or “registered
assign” for all purposes hereunder, and shall have all the rights of the Holder.

 

8.            Warrant
Agent. The Company may, by written notice to the Holder, appoint an agent (a “Warrant Agent”) for the purpose
of issuing shares of Common Stock on the exercise of this Warrant pursuant hereto, exchanging this Warrant pursuant hereto, and
replacing this Warrant pursuant hereto, or any of the foregoing, and thereafter any such issuance, exchange or replacement, as
the case may be, shall be made at such office by such Warrant Agent.

 

9.            Transfer
on the Company’s Books. Until this Warrant is transferred on the books of the Company, the Company may treat the Holder
as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary.

 

10.          Notices.
Any notice required or permitted hereunder shall be given in the manner provided in the subsection titled “Notices”
in the Purchase Agreement, the terms of which are incorporated herein by reference.

 

11.          Supplements
and Amendments; Whole Agreement. This Warrant may be amended or supplemented only by an instrument in writing signed by the
parties hereto. This Warrant, together with the Purchase Agreement and all the other Transaction Documents, taken together, contain
the full understanding of the parties hereto with respect to the subject matter hereof and thereof and there are no representations,
warranties, agreements or understandings with respect to the subject matter hereof and thereof other than as expressly contained
herein and therein.

 

12.          Governing
Law. This Warrant shall be governed by and interpreted in accordance with the laws of the State of Nevada, without giving
effect to the principles thereof regarding the conflict of laws. The Company and, by accepting this Warrant, the Holder, each
irrevocably (a) consent to and expressly submit to the exclusive personal jurisdiction of any state or federal court sitting
in San Diego County, California in connection with any dispute or proceeding arising out of or relating to this Warrant, (b) agree
that all claims in respect of any such dispute or proceeding may only be heard and determined in any such court, (c) expressly
submit to the venue of any such court for the purposes hereof, and (d) waive any claim of improper venue and any claim or
objection that such courts are an inconvenient forum or any other claim or objection to the bringing of any such proceeding in
such jurisdictions or to any claim that such venue of the suit, action or proceeding is improper. The Company and, by accepting
this Warrant, the Holder, each hereby irrevocably consent to the service of process of any of the aforementioned courts in any
such proceeding by the mailing of copies thereof by reputable overnight courier (e.g., FedEx) or certified mail, postage prepaid,
to such party’s address as provided for herein, such service to become effective ten (10) calendar days after such
mailing. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE
ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

     6

     

    

 

13.          Remedies.
The remedies at law of the Holder of this Warrant in the event of any default or threatened default by the Company in the performance
of or compliance with any of the terms of this Warrant are not and will not be adequate and, without limiting any other remedies
available to the Holder in the Transaction Documents, law or equity, to the fullest extent permitted by law, such terms may be
specifically enforced by a decree for the specific performance of any agreement contained herein or by an injunction against a
violation of any of the terms hereof or otherwise.

 

14.          Counterparts.
This Warrant may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be
an original, and all such counterparts shall together constitute but one and the same instrument. Signature delivered via facsimile
or email shall be considered original signatures for purposes hereof.

 

15.          Descriptive
Headings. Descriptive headings of the sections of this Warrant are inserted for convenience only and shall not control or
affect the meaning or construction of any of the provisions hereof.

 

16.          Attorney’s
Fees. In the event of any litigation or dispute arising from this Warrant, the parties agree that the party who is awarded
the most money shall be deemed the prevailing party for all purposes and shall therefore be entitled to an additional award of
the full amount of the attorneys’ fees and expenses paid by said prevailing party in connection with the litigation and/or
dispute without reduction or apportionment based upon the individual claims or defenses giving rise to the fees and expenses.
Nothing herein shall restrict or impair a court’s power to award fees and expenses for frivolous or bad faith pleading.

 

17.          Severability.
Whenever possible, each provision of this Warrant shall be interpreted in such a manner as to be effective and valid under applicable
law, but if any provision of this Warrant shall be invalid or unenforceable in any jurisdiction, such provision shall be modified
to achieve the objective of the parties to the fullest extent permitted and such invalidity or unenforceability shall not affect
the validity or enforceability of the remainder of this Warrant or the validity or enforceability of this Warrant in any other
jurisdiction.

 

[Remainder
of page intentionally left blank]

 

     7

     

    

 

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

 

Dated:
June 4, 2020

 

	 	THE COMPANY:
	 	 
	 	ELECTROMEDICAL TECHNOLOGIES, INC.
	 	 
	 	By:	
	 	Name:    	Matthew Wolfson
	 	Title:	Chief Executive Officer

 

[Signature
page to Warrant]

 

     

     

    

 

EXHIBIT A

 

NOTICE
OF EXERCISE OF WARRANT

 

TO:       
  ELECTROMEDICAL TECHNOLOGIES, INC.  

ATTN:
_______________  

VIA
FAX TO: (    )______________  

VIA
EMAIL TO: (    )______________

 

The
undersigned hereby irrevocably elects to exercise the right, represented by the Warrant to Purchase Shares of Common Stock dated
as of ________ (the “Warrant”), to purchase shares of the common stock, $0.001 par value (“Common
Stock”), of ELECTROMEDICAL TECHNOLOGIES, INC., and tenders herewith payment in accordance with Section 2 of the
Warrant, as follows:

 

	 	 	CASH: $__________________________
    = (Exercise Price x Warrant Shares)
	 	 	 
	 	 	Payment is being made by:
	 	 	 
	 	 	_____       enclosed
    check
	 	 	_____       wire
    transfer
	 	 	_____       other
	 	 	 
	 	 	CASHLESS EXERCISE:
	 	 	 

  Net
number of Warrant Shares to be issued to Holder: ______*

 

*
X = Y (A-B)

 
      A

 

   Where
X =       the number of Warrant Shares to be issued to Holder.

 

Y
=       the number of Warrant Shares that the Holder elects to purchase under this Warrant
(at the date of such calculation).

 

	 	A	=       the
    Market Price (at the date of such calculation).

 

	 	B	=       Exercise
    Price (as adjusted to the date of such calculation).

 

Capitalized
terms used but not otherwise defined herein shall have the meanings ascribed to them in the Warrant.

 

It
is the intention of the Holder to comply with the provisions of Section 2.2 of the Warrant regarding certain limits on the
Holder’s right to exercise thereunder. The Holder believes this exercise complies with the provisions of such Section 2.2.
Nonetheless, to the extent that, pursuant to the exercise effected hereby, the Holder would have more shares of Common Stock than
permitted under Section 2.2, this notice should be amended and revised, ab initio, to refer to the exercise which
would result in the issuance of the maximum number of such shares permitted under such provision. Any exercise above such amount
is hereby deemed void and revoked.

 

     

     

    

As
contemplated by the Warrant, this Notice of Exercise is being sent by facsimile or email to the fax number and officer indicated
above.

 

If
this Notice of Exercise represents the full exercise of the outstanding balance of the Warrant, the Holder either (1) has
previously surrendered the Warrant to the Company or (2) will surrender (or cause to be surrendered) the Warrant to the Company
at the address indicated above by express courier within five (5) Trading Days after delivery or email or facsimile transmission
of this Notice of Exercise; provided that the Warrant Shares to be delivered pursuant to this Notice of Exercise have been delivered
to the Holder as of such date.

 

To
the extent the Warrant Shares are not able to be delivered to the Holder via the DWAC system, please deliver certificates representing
the Warrant Shares to the Holder via reputable overnight courier after receipt of this Notice of Exercise (by facsimile transmission
or otherwise) to:

 

	 	 	 
	 	 	 
	 	 	 

 

	Dated:	 	 

	 	 

[Name
of Holder]

 

	By:	 	 

 

     

     

    

 

EXHIBIT B

 

FORM OF
TRANSFEROR ENDORSEMENT  

(To
be signed only on transfer of the Warrant)

 

For
value received, the undersigned hereby sells, assigns, and transfers unto the person(s) named below under the heading “Transferees”
the right represented by the Warrant to Purchase Shares of Common Stock dated as of _________ (the “Warrant”)
to purchase the percentage and number of shares of common stock, $0.001 par value (“Common Stock”), of ELECTROMEDICAL
TECHNOLOGIES, INC. specified under the headings “Percentage Transferred” and “Number Transferred,”
respectively, opposite the name(s) of such person(s), and appoints each such person attorney to transfer the undersigned’s
respective right on the books of ELECTROMEDICAL TECHNOLOGIES, INC. with full power of substitution in the premises.

 

	Transferees	Percentage
    Transferred	Number
    Transferred

 

Dated:___________,
______

 

	 	 
	 	[Transferor Name must conform
    to the name of Holder as specified on the face of the Warrant]
	 	 
	 	By:	 

	 	Name:	 

 

Signed
in the presence of:

 

	 	 
	(Name)	 

 

ACCEPTED
AND AGREED:

 

	 	 
	[TRANSFEREE]	 

 

	By:	 	 

 

	Name:Document

Exhibit 10.8g
 CABOT OIL & GAS CORPORATION
PERFORMANCE SHARE AWARD AGREEMENT

    This Performance Share Award Agreement (the “Agreement”), made and entered into by and between Cabot Oil & Gas Corporation (the “Company”) with its principal office at 840 Gessner Road, Suite 1400, Houston, Texas 77024 and [ Participant Name ], (the “Employee”), is dated as of [ grant date ].

    This Agreement is expressly subject to the terms and provisions of the Company’s 2014 Incentive Plan (the “Plan”).  In the event there is a conflict between the terms of the Plan and this Agreement, the terms of the Plan shall control.  All undefined capitalized terms used herein that are not otherwise defined shall have the meanings assigned to them in the Plan.

    1.     Award.  As an additional incentive and inducement to the Employee to remain in the employment of the Company or its Subsidiaries, and to devote his or her best efforts to the business and affairs of the Company, the Company hereby awards to the Employee a Performance Award of [ number of shares granted ] shares, each evidencing the right to receive one share of Cabot Oil & Gas Corporation common stock, par value $.10 per share (the “Common Stock”), subject to the terms and conditions hereinafter set forth (the “Performance Shares”).

    2.    Performance Period.  The performance period for the Performance Shares subject to this Agreement shall be the period beginning January 1, 2020 and ending December 31, 2022 (the “Performance Period”).

    3.     Terms of Award.  Each Performance Share represents the right to receive, after the end of the Performance Period, subject to the Company meeting the Performance Criteria and the other conditions of this Agreement, one share of Common Stock.  Subject to the terms and provisions of this Agreement, the restrictions on the Performance Shares shall lapse only if the Company shall have reported an average of $100 million or more of operating cash flow during the Performance Period (the “Performance Criteria”).  The Committee shall determine whether such result was achieved, as provided below in Section 4.  If the Committee determines that the Company did not report an average of $100 million or more of operating cash flow during the Performance Period, then all of the Performance Shares granted pursuant to this Agreement shall be immediately forfeited.

    4.    Certification and Issuance of Shares.  Notwithstanding anything in this Agreement to the contrary, the Employee shall not be entitled to any shares of Common Stock with respect to the Performance Shares unless and until the Committee determines and certifies that the Performance Criteria have been met.  As soon as practicable following the completion of the Performance Period, but in no event later than March 15th of the calendar year following the end of the Performance Period, the Committee shall determine, in writing, in its sole and absolute authority and discretion, whether the Performance Criteria have been met. The 
Active 15171701.2

determination of the Committee shall be binding and conclusive on the Employee.  If the Committee determines that the Performance Criteria have been met, then the Company shall issue to the Employee the number of shares of Common Stock equal to the number of Performance Shares, after being reduced by the number of shares of Common Stock equal to the amount the Company is required by any governmental authority to withhold for tax purposes with respect to the payment of the Performance Shares.

    5.    Termination of Employment.  Except as otherwise provided in this Section 5, Section 7, or Section 8, in the event the Employee’s employment with the Company or its Subsidiaries terminates for any reason prior to the completion of the Performance Period or the date the Committee certifies the results of the Performance Criteria, the Performance Shares shall be immediately forfeited unless otherwise determined by the Committee.  The foregoing notwithstanding, in the case of the Employee’s termination of employment by reason of death, disability, or retirement (under a Company approved retirement plan), the Performance Shares shall not be so forfeited and shall otherwise be payable as set forth herein as if such employment continued through the end of the Performance Period (and certification date), subject to the Committee determining that the Performance Criteria was met or exceeded for the Performance Period; provided, however, that in the case of a retirement, the Employee must be an employee of the Company or one of its Subsidiaries on December 31st of the calendar year this award is granted in order to continue vesting in this award.  

    6.     Dividend Equivalents.  At the same time that the Company delivers the shares of Common Stock pursuant to the vesting of the Performance Shares pursuant to Section 4 or Section 8, the Company shall also pay to the Employee an amount in cash equal to the dividends that would have been paid on each share of Common Stock delivered had such share been outstanding from the date of grant until the date shares are delivered to the Employee.  The dividend equivalent payment pursuant to this Section 6 shall be paid without interest or earnings, and will be subject to the payment of applicable withholding taxes.  No dividend equivalent payments will be made with respect to Performance Shares that do not vest pursuant to this Agreement.

    7.    Confidential Information and Non-Competition.  In consideration of (i) the Company disclosing and providing access to Confidential Information, as more fully described in Section 7(a) below, (ii) the grant by the Company of the Performance Shares to provide an economic incentive to Employee to use Employee’s best efforts during his/her employment with the Company to advance the business and goodwill of the Company and in order to protect the Company’s interests in its Confidential Information and goodwill after the date hereof, and (iii) other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Employee, intending to be legally bound, hereby agrees as follows:

    (a)    Employee hereby covenants and agrees that at all times during his or her employment with the Company and for a period of twenty-nine (29) months after a termination of the Employee’s employment by reason of retirement as provided in Section 5, he or she will not, without the prior written consent of the Company’s chief legal officer, either directly 

or indirectly, for himself/herself or on behalf of or in conjunction with any other person, company, partnership, corporation or other entity, engage in any activities prohibited in the following subsections (1) through (3) of this Section 7(a):

(1)    Employee shall not assist or directly or indirectly provide services, whether as a partner, employee, consultant, officer, director, manager, agent, associate, investor, or otherwise, to any person or entity which is at the time of such assistance or provision a “Competitor” of the Company.  For purposes of this Section 7, the term “Competitor” means any person or entity that is engaged in the exploration and production of oil, gas or other hydrocarbons, the transportation thereof, any other midstream activities or the provision of oilfield services in any state or county/parish thereof in which the Company conducts business and/or has established business plans to conduct business activities within the twelve-month period preceding Employee’s termination.

(2)  In order to assist Employee with his or her duties, the Company shall continue to provide the Employee with access to confidential and proprietary information and other confidential information which is either information not known by actual or potential competitors, customers and third parties of the Company or is proprietary information of the Company (“Confidential Information”).  Such Confidential Information shall include all non-public information the Employee acquired as a result of his or her positions with the Company that might be of any value to a competitor of the Company.  Examples of such Confidential Information include, without limitation, non-public information about the Company’s customers, suppliers, and potential acquisition targets; its business operations, structure and methods of operation; its services and pricing; its processes, machines and inventions; it research and know-how; its business planning and strategies; information maintained in its computer systems; devices, processes, compilations of information and records; and future business plans.  Employee agrees that such Confidential Information remains confidential even if committed to the Employee’s memory.  Employee agrees not to use, divulge, or furnish or make accessible to any third party, company, corporation or other organization (including but not limited to customers, competitors, or governmental agencies), without the Company’s prior written consent, any Confidential Information of the Company, except as necessary in performing his or her duties on behalf of the Company during his or her employment with the Company.  The Employee’s obligations under this Section will not apply to the extent that (i) the disclosure of Confidential Information is required by applicable law; provided that, prior to disclosing such Confidential Information, to the fullest extent practicable Employee must notify the Company thereof, which notice will include the basis upon which Employee believes the information is required to be disclosed, or (ii) information otherwise determined to be Confidential Information is or becomes generally available to the public or to persons generally 

knowledgeable in the Company’s industry without violation of this Agreement by Employee.

(3)  Employee agrees that whenever the Employee’s employment with the Company ends for any reason, (i) all documents containing or referring to the Company’s Confidential Information as may be in the Employee’s possession, or over which the Employee may have control, and all other property of the Company provided to Employee by the Company during the course of Employee’s employment with the Company will be returned to the Company immediately, with no request being required; and (ii) all Company computer and computer-related equipment and software, and all Company property, files, records, documents, drawings, specifications, lists, equipment and similar items relating to the business of the Company, whether prepared by the Employee or otherwise, coming into the Employee’s possession or control during the course of his or her employment shall remain the exclusive property of the Company, and shall be delivered by the Employee to the Company immediately, with no request being required.

    (b)    Employee specifically recognizes and affirms that each of the covenants contained in Section 7(a)(1) through (3) of this Agreement is a material and important term of this Agreement which has induced the Company to provide for the award of Performance Shares granted hereunder, the disclosure of the Confidential Information referenced herein, and the other promises made by the Company herein, and the Employee further agrees that in the event that he or she retires and thereafter (A) the Company determines that Employee has breached any term of Section 7(a) (1) through (3) or (B) all or any part of Section 7(a) is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in any action between the Employee and the Company, in addition to any other remedies at law or in equity the Company may have available to it, the Employee shall lose the right to receive Performance Shares and any unvested Performance Shares shall be deemed forfeited effective as of the date (A) the Company determines that Employee has breached any term of Section 7(a) or (B) all or any part of Section 7(a) is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in an action between the Employee and the Company.

    (c)    The Employee and the Company agree that the restrictions set forth in Section 7(a) are reasonable, including the geographic area, duration as to time, and scope of activities restrained.  The Employee further agrees that if any covenant contained in Section 7(a) is found by a court of competent jurisdiction to contain limitations as to time, geographical area, or scope of activity that are not reasonable and impose a greater restraint than is necessary to protect the goodwill or other business interest of the Company, then the court shall reform the covenant to the extent necessary to cause the limitations contained in the covenant as to time, geographical area, and scope of activity to be restrained to be reasonable and to impose a restraint that is not greater than necessary to protect the 

goodwill and other business interests of the Company and to enforce the covenants as reformed.

    (d)    The covenants on the part of Employee in this Section 7 are considered independent of any other agreement, and the fact that the Employee has a claim against the Company, whether predicated upon this Agreement or otherwise, is not a defense to enforcement of this Section 7.

    8.    Change in Control.  Upon either of a Change in Control (as defined below) or the Company's ceasing to have publicly traded Common Stock as a result of a business combination or other extraordinary transaction, in each case prior to the completion of the Performance Period, the Performance Period shall be deemed complete and the Employee shall have earned 100% of the Performance Shares.  If the Company ceases to have publicly traded Common Stock, then instead of any share of Common Stock that would otherwise be issued there shall instead be paid an amount of cash equal to the value of the consideration received by the shareholder of the Company in respect of a share of Common Stock in connection with the Change in Control or business combination or other extraordinary transaction.

    “Change in Control” shall mean:

(I)    The acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule 13d3 promulgated under the Exchange Act) of 35% or more of either (1) the then outstanding shares of common stock of the Company (the “Outstanding Company Common Stock”) or (2) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided, however, that for purposes of this subsection (I), the following acquisitions shall not constitute a Change of Control: (i) any acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company or (iv) any acquisition by any entity pursuant to a transaction which complies with clauses (1), (2) and (3) of subsection (III) of this definition; or

(II)Individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof whose election, or nomination for election by the Company’s stockholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this 

purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or

(III)    Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), in each case, unless, following such Business Combination, (1) all or substantially all of the individuals and entities who were the beneficial owners, respectively, of the Outstanding Company Common Stock and Outstanding Company Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, more than 50% of, respectively, the then outstanding shares of common stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that as a result of such transaction owns the Company or all or substantially all of the Company’s assets either directly or through one or more Subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Business Combination, of the Outstanding Company Common Stock and Outstanding Company Voting Securities, as the case may be, (2) no Person (excluding any entity resulting from such Business Combination or any employee benefit plan (or related trust) of the Company or such entity resulting from such Business Combination) beneficially owns, directly or indirectly, 35% or more of, respectively, the then outstanding shares of common equity of the entity resulting from such Business Combination or the combined voting power of the then outstanding voting securities of such entity except to the extent that such ownership existed prior to the Business Combination and (3) at least a majority of the members of the board of directors of the corporation, or the similar managing body of a non-corporate entity, resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Business Combination; or 

(IV)Approval by the stockholders of the Company of a complete liquidation or dissolution of the Company, other than a liquidation or dissolution in connection with a transaction to which subsection (III) applies.

    9.    Employment at Will.  This Agreement is not an employment agreement.  Nothing contained herein shall be construed as creating any employment relationship other than one at will.

    10.    Assignment.  This Agreement shall inure to the benefit of and be binding upon the heirs, legatees, distributees, executors and administrators of the Employee and the successors and assigns of the Company.  In no event shall Performance Shares granted hereunder be voluntarily or involuntarily sold, pledged, assigned or transferred by the Employee other than by will or the laws of descent and distribution or pursuant to a qualified domestic relations order.

    11.    Governing Law.  This Agreement shall be governed by the laws of the State of Delaware, without giving effect to conflict of law rules or principles.  Any action or proceeding seeking to enforce any provision of or based on any right arising out of this Agreement may be brought against the Employee or the Company only in the courts of the State of Delaware or, if it has or can acquire jurisdiction, in the United States District Court for the District of Delaware, and the Employee and the Company consent to the jurisdiction of such courts (and of the appropriate appellate courts) in any action or proceeding and waives any objection to venue laid herein.

    12.    Shareholder Status.  The Employee shall have no rights of a shareholder with respect to the shares of Common Stock potentially deliverable pursuant to this Agreement unless and until such time as the ownership of such shares of Common Stock has been transferred to the Employee.

    IN WITNESS WHEREOF, the parties hereto cause this Agreement to be executed as of the date hereof.

    Company:

    CABOT OIL & GAS CORPORATION

    /s/     Scott C. Schroeder        
    By:    Scott C. Schroeder
    Title:    Executive Vice President and
        Chief Financial Officer

    Employee:

                                                                                                                   
    By:    [ Participant Name ]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00322-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00322-of-00352.parquet"}]]