Document:

Unassociated Document

    Exhibit
      4.2

    

    SERIES
      A DEBENTURE

    

    DISASTER
      PREPAREDNESS SYSTEMS INC. 

    (Incorporated
      in Nevada as Global Preparedness Systems, Inc.

    name
      change being applied for) 

    

    No.
      ____

    

    1.     For
      value
      received, DISASTER
      PREPAREDNESS SYSTEMS, INC. 
      (hereinafter
      called "the Company") hereby acknowledges itself indebted and promises to pay
      to
______________or
      other
      registered holder hereof for the time being (hereinafter referred to as the
      "Holder" hereof) the principal amount of __________________
      in
      lawful
      money of Canada at the Registered Office of the Company in Vancouver, British
      Columbia, together with interest calculated from the 23rd day of September,
      2005, at the annual rate of twelve and one half (12.5%) percent, and shall
      be
      payable after as well as before maturity and after as well as before default,
      with interest on amounts in default at the same rate. Interest at the
      aforementioned rate shall be payable to the Holder upon redemption commencing
      September 23rd, 2005 or until the principal sum of the Debenture has been
      retired. 

    

    The
      principal sum is due and payable on September 23rd, 2007 (the "Maturity Date").
      

    

    There
      shall be no prepayment penalties assessed. Payment of principal and interest
      shalt be made only upon presentation of the Debenture by the Holder hereof
      to
      the Company at its registered office and after notation has been made hereon
      of
      such payment as a condition precedent thereto. 

    

    2.    This
      debenture is one of a series which shall not exceed the aggregate of FIVE
      HUNDRED THOUSAND ($500,000) DOLLARS and all debentures in this series shall
      rank
      pari passu without preference or priority one over another. 

    

    3.    The
      Company shall keep at its records office in Vancouver, British Columbia, a
      register of holders of its registered debentures in which there shall be entered
      the names, addresses and description of the Holder hereof. This debenture may
      be
      transferred only by a transfer in writing signed by the Holder hereof or his
      legal personal representative and will only be effective as regards the Company
      when delivered at the Company's registered office in Vancouver, British
      Columbia, accompanied by this Debenture together with such evidence of identity
      or title as the Company may reasonably require. Thereupon the Company will
      record such transfer on its books and issue a new Debenture to the transferee
      in
      exchange for this Debenture. The charge contained in such a new Debenture shall
      rank in all respects pari passu with the charge contained in the Debenture
      originally issued. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    4.    The
      person in whose name this Debenture shall be registered shall be deemed and
      regarded as the owner and Holder hereof for all purposes and the payment to
      and
      receipt of the Holder as the case may be for any principal monies or interest
      hereby secured shall be a good discharge to the Company for the same and the
      Company shall not be bound to enter into the register notice of any trust or
      to
      inquire into the title of any such Holder hereof or to recognize any trust
      or
      equity affecting the title hereof save as ordered by some Court of competent
      jurisdiction or as required by Statue. 

    

    
      	5.	
              (a)  
                Subject to the provisions of this Debenture the Holder shall have
                the
                right at the time of the IPO and up to and including the close of
                business
                on the thirtieth (30) day thereafter, to convert such Debenture into
                units
                of the Company by applying such amount of the principal amount of
                this
                Debenture and interest as the Holder shall by notice in writing to
                the
                Company elect to convert into units at the "conversion price". The
                conversion price shall be the share price of the companies IPO in
                lawful
                money of Canada per unit; each unit will consist of two (2) common
                shares
                of the Company. 

            

    

    

    (b)  
      The Holder of this debenture desiring to exercise his right of conversion shall
      present, or in the event the Holder wishes to convert the full principal portion
      of the Debenture and interest, surrender such Debenture together with a written
      notice in form satisfactory to the Company, to the Company at its registered
      office and in compliance with all reasonable requirements of the Company, the
      Holder or its nominee or assignee shall be entitled to be entered in the books
      of the Company as at the date of such surrender or such Debenture as the holder
      of the number of common shares into which such principal portion of the
      Debenture as is being converted in accordance with the notice from the Holder.
      In addition, the Company shall, in accordance with the said notice from the
      Holder, deliver or cause to be delivered a share certificate for the number
      of
      units into which the principal portion or part thereof of the Debenture is
      being
      converted. In the event a portion only of this Debenture is to be converted
      to
      units of the Company, then the Company shall record the conversion on its Minute
      Book, setting out the amount of the conversion, the unconverted portion, and
      the
      date of conversion. The amount of principal hereby secured and converted into
      units, shall to the extent such conversion takes places, be good discharge
      to
      the Company for same. 

    

    (c)  
      For the purpose of this section "common shares" shall mean and include the
      common shares in the capital of the Company as constituted on the 23rd day
      of
      September, 2005. 

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Accordingly:
      

    

    (i)    in
      the
      event of any subdivision or a change of common shares of the Company while
      any
      of the Debentures of this series are/is outstanding into a greater number of
      shares the Company shall deliver at the time of the exercise of the right of
      conversion of such Debenture or any portion thereof and the Holder shall accept
      without making any additional payment or giving any additional consideration
      therefor, in addition to the number of common shares to which the Holder was
      theretofore entitled, upon conversion such additional number of shares as such
      Holder would have received as a result of such subdivision or change if the
      right to convert such Debenture had been exercised prior to the time of such
      subdivision or change; 

    

    (ii)    in
      the
      event of any consolidation of common shares if the Company while any of the
      Debentures of this series are outstanding into a lesser number of shares, the
      Company shall deliver at the time of the exercise of the right of conversion
      of
      such Debenture or any portion thereof and the Holder shall accept in lieu of
      the
      number of common shares to which it was theretofore entitled upon conversion,
      such lesser number of shares as such Holder would have received as a result
      of
      such consolidation if the right to convert such Debenture had been exercised
      prior to the time of such consolidation; 

    

    (iii)    in
      the
      event of any reclassification of common shares of the Company while any of
      the
      Debentures in this series are outstanding, the Company shall deliver at the
      time
      of the conversion of this Debenture or any portion thereof and the Holder shall
      accept in lieu of the number of common shares to which it was theretofore
      entitled upon conversion the number of shares of the appropriate class resulting
      form such reclassification if the right to convert such Debenture had;

    

    (d)  
      The Company covenants that there shall be reserved by the Company unissued
      shares solely for the purpose of fulfilling its obligations under this Debenture
      in respect to the conversion of such Debentures such number of common shares
      as
      shall from time to time be sufficient to fully provide for the conversion on
      the
      terms hereof of this Debenture; 

    

    (e)  
      Notwithstanding any other provision of this Debenture in the event that prior
      to
      the exercise of the right of conversion herein contained, the Company shall
      have
      given notice of redemption of this Debenture in whole or in part, the right
      of
      conversion herein contained shall be convertible within 30 days after such
      notice of redemption. 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    6.    The
      Company shall have the right at its option in the manner hereinafter in this
      section provided to redeem prior to their maturity at any time the whole or
      from
      time to time any part of the principal amount of this Debenture by the payment
      of the principal amount of the debenture or portion thereof being redeemed.
      In
      the event a portion only of the Debenture is to be redeemed, then the company
      shall record the redemption on its Minute Book, setting out the amount of the
      redemption, the unredeemed portion, and the date of redemption. The amount
      of
      principal hereby secured and redeemed shall, to the extent of such redemption,
      be good discharge to the Company. 

    

    7.    Notice
      may be served upon the Holder by sending it through the post in a prepaid letter
      addressed to the Holder hereof at its registered office. Any notice to be given
      to the Company by the Holder hereof may be given by sending it through the
      post
      in a prepaid letter addressed to the Company at its registered office in
      Vancouver, British Columbia. Any such notice served by post shall be deemed
      to
      have been served on the expiration of 24 hours after it is posted and in proving
      service of any such notice it shall be sufficient to prove that the letter
      containing the notice was properly addressed and put into the post office at
      the
      place of mailing. 

    

    8.    Any
      waiver of any of the terms hereof by the Holder shall not invalidate or modify
      the terms hereof or in any way be construed as a precedent for further waivers
      nor shall it prejudice the rights of the Holder by reason of such specific
      waiver. 

     

    9.    IN
      WITNESS WHEREOF the Company has executed this Debenture as of the
      23rd
      day of September, 2005. 

    

    
      	 	 	 
	 	DISASTER
              PREPAREDNESS SYSTEMS INC.
	 
 	 
 	 
 
	 	Per:  	 
	 	 	
              
 
	 	Per:Exhibit
      4.3

     

    NEITHER
      THIS WARRANT NOR THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS
      WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
      OR
      ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN
      MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT
      PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS
      OR
      AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE
      OPINION OF COUNSEL FOR THE COMPANY, IS AVAILABLE.

     

    Void
      after 5:00 P.M. New York City time on

    the
      last day of the Exercise Period, as defined below

     

    COMMON
      STOCK PURCHASE WARRANT

    OF

    DISASTER
      PREPAREDNESS SYSTEMS, INC.

     

    Issue
      Date: September 1, 2006

     

    This
      is
      to certify that, FOR VALUE RECEIVED, _________________ (the “Holder”),
      is
      entitled to purchase, subject to the provisions of this Warrant, from Disaster
      Preparedness Systems, Inc., a Nevada corporation (the “Company”),
      at an
      exercise price per share of $0.50, subject to adjustment as provided in this
      Warrant (the “Warrant
      Exercise Price”),
      ________________ (___________) shares of common stock, no par value (the
“Common
      Stock”).
      The
      shares of Common Stock deliverable upon such exercise, and as adjusted from
      time
      to time, are hereinafter sometimes referred to as the “Warrant
      Shares.”
      

     

    1.    ISSUANCE
      OF WARRANT.
      This
      Warrant is being issued pursuant to that certain Subscription Agreement dated
      as
      of September 1, 2006 between the Company and the Holder (the “Subscription
      Agreement”).
      Capitalized terms used but not otherwise defined herein shall have the meanings
      ascribed thereto in the Subscription Agreement or the Memorandum (hereinafter
      defined). In addition, the following terms shall have the meanings set forth
      below:

     

    “Convertible
      Securities”
shall
      mean evidences of indebtedness, shares of stock or other securities, which
      are
      convertible into or exchangeable, with or without payment of additional
      consideration in cash and/or property, for shares of Common Stock, either
      immediately or upon the occurrence of a specified date or a specified
      event.

     

    “Exercise
      Period”
shall
      mean the period commencing on the date hereof and ending at 5:00 p.m., Eastern
      Time on September 1, 2011. 

     

    “Memorandum”
shall
      mean the Company’s Confidential Private Placement Memorandum, dated as of July
      10, 2006 (as amended or supplemented, and together with all exhibits attached
      thereto). 

     

    “Other
      Securities”
shall
      mean any other equity or debt securities that may be issued by the Company
      in
      addition thereto or in substitution for the Warrant Shares.

     

    “Permitted
      Issuances”
shall
      mean issuances
      to officers, employees, directors, consultants or advisors pursuant to stock
      option or restricted stock purchase plans approved by the Board of Directors
      of
      the Company covering up to 15% of the outstanding shares of Common Stock which
      are issued at not less than fair market value.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    “Placement”
means
      the private placement by the Company of Units consisting of shares of the
      Company’s Common Stock and Warrants, including this Warrant.

     

    “Redemption
      Conditions”
means
      each of the following conditions to a redemption of this Warrant by the Company:
      (i) the shares of Common Stock are publicly traded and have had an average
      Closing Price at or above Ninety Cents ($0.90) per share (as adjusted for any
      stock splits, combinations or other recapitalizations) for twenty (20)
      consecutive trading days ending on the date of the Redemption Notice
      (hereinafter defined) (the “Redemption
      Measuring Period”),
      (ii)
the
      average daily trading volume for the Redemption Measuring Period is greater
      than
      one hundred thousand (100,000) shares per day
      and
      (iii) the resale of the Warrant Shares is registered with the Securities and
      Exchange Commission for resale to the public under an effective registration
      statement and all such shares remain registered thereafter until
      redemption. 

     

    “Securities
      Act”
      means
      the Securities Act of 1933, as amended, and all rules and regulations
      promulgated thereunder.

     

    2.    EXERCISE
      OF WARRANT.
      This
      Warrant may be exercised in whole or in part at any time or from time to time
      from the date hereof until the end of the Exercise Period by presentation and
      surrender of this Warrant to the Company at its principal office, or at the
      office of its stock transfer agent, if any, with the Purchase Form annexed
      hereto duly executed and accompanied by payment of the Warrant Exercise Price
      for the number of shares of Common Stock specified in such form. If this Warrant
      should be exercised in part only, the Company shall, upon surrender of this
      Warrant for cancellation, execute and deliver a new Warrant evidencing the
      rights of the Holder to purchase the balance of the shares of Common Stock
      purchasable hereunder. Upon receipt by the Company of this Warrant at its
      office, or by the stock transfer agent of the Company at its office, in proper
      form for exercise, the Holder shall be deemed to be the holder of record of
      the
      shares of Common Stock issuable upon such exercise, notwithstanding that the
      stock transfer books of the Company shall then be closed or that certificates
      representing such shares of Common Stock shall not then actually be delivered
      to
      the Holder. As soon as practicable after each exercise of this Warrant, in
      whole
      or in part, and in any event within ten (10) days thereafter, the Company at
      its
      expense (including the payment by it of any applicable issue taxes) will cause
      to be issued in the name of and delivered to the Holder hereof or, subject
      to
      Section 10 hereof, as the Holder (upon payment by the Holder of any applicable
      transfer taxes) may direct, a certificate or certificates (with appropriate
      restrictive legends, as applicable) for the number of duly authorized, validly
      issued, fully paid and non-assessable shares of Common Stock to which the Holder
      shall be entitled upon exercise. All issuances of Common Stock pursuant to
      the
      exercise of this Warrant shall be rounded (up or down as the case may be) to
      the
      nearest whole share.

     

    3.    RESERVATION
      OF SHARES/FRACTIONAL SHARES; CERTAIN COVENANTS WITH REGARD TO AUTHORIZED
      SHARES.
      

     

    (a)   The
      Company hereby agrees that at all times there shall be reserved for issuance
      and/or delivery upon exercise of this Warrant such number of shares of Common
      Stock as shall be required for issuance and delivery upon exercise of this
      Warrant (the “Warrant
      Shares”).
      No
      fractional shares or script representing fractional shares shall be issued
      upon
      the exercise of this Warrant. Instead, the Company will round up to the nearest
      whole share. Such shares of Common Stock shall, upon exercise of this Warrant,
      be duly authorized, validly issued, fully paid and nonassessable and free from
      all taxes, liens and charges in respect of the issue thereof.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    (b)   The
      Company further covenants that its issuance of this Warrant shall constitute
      full authority to its officers who are charged with the duty of executing stock
      certificates to execute and issue the necessary certificates for the Warrant
      Shares upon the exercise of the purchase rights under this Warrant. The Company
      will take all such reasonable action as may be necessary to assure that such
      Warrant Shares may be issued as provided herein without violation of any
      applicable law or regulation, or of any requirements of the principal market
      upon which the Common Stock may be listed. 

    

    (c)   The
      Company shall not by any action, including, without limitation, amending its
      certificate of incorporation or through any reorganization, transfer of assets,
      consolidation, merger, dissolution, issue or sale of securities or any other
      voluntary action, avoid or seek to avoid the observance or performance of any
      of
      the terms of this Warrant, but will at all times in good faith assist in the
      carrying out of all such terms and in the taking of all such actions as may
      be
      necessary or appropriate to protect the rights of Holder against impairment.
      

    

    (d)   Upon
      the
      request of the Holder, the Company will at any time during the period this
      Warrant is outstanding acknowledge in writing, in form reasonably satisfactory
      to Holder, the continuing validity of this Warrant and the obligations of the
      Company hereunder.

    

    (e)   Before
      taking any action which would cause an adjustment reducing the current Warrant
      Exercise Price below the then par value, if any, of the shares of Common Stock
      issuable upon exercise of the Warrants, the Company shall take any corporate
      action which may be necessary in order that the Company may validly and legally
      issue fully paid and non-assessable shares of such Common Stock at such adjusted
      Exercise Price.

    

    (f)   Before
      taking any action which would result in an adjustment in the number of shares
      of
      Common Stock for which this Warrant is exercisable or in the Warrant Exercise
      Price, the Company shall obtain all such authorizations or exemptions thereof,
      or consents thereto, as may be necessary from any public regulatory body or
      bodies having jurisdiction thereof.

    

    4.    EXCHANGE,
      TRANSFER, ASSIGNMENT OR LOSS OF WARRANT.
      This
      Warrant is exchangeable, without expense, at the option of the Holder, upon
      presentation and surrender of this Warrant to the Company for other Warrants
      of
      different denominations entitling the Holder thereof to purchase in the
      aggregate the same number of shares of Common Stock purchasable hereunder.
      Upon
      surrender of this Warrant to the Company or at the office of its stock transfer
      agent, if any, with the Assignment Form annexed hereto duly executed and funds
      sufficient to pay any applicable transfer tax, the Company shall, without
      charge, execute and deliver a new Warrant in the name of the assignee named
      in
      such instrument of assignment and this Warrant shall promptly be canceled.
      This
      Warrant may be divided or combined with other Warrants which carry the same
      rights upon presentation of this Warrant at the office of the Company or at
      the
      office of its stock transfer agent, if any, together with a written notice
      specifying the names and denominations in which new Warrants are to be issued
      and signed by the Holder hereof. The term “Warrant” as used herein includes any
      Warrants into which this Warrant may be divided or for which it may be
      exchanged. 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, of reasonably satisfactory indemnification), and
      upon surrender and cancellation of this Warrant, the Company will execute and
      deliver a new Warrant of like tenor. Any such new Warrant executed and delivered
      shall constitute an additional contractual obligation on the part of the
      Company, whether or not this Warrant so lost, stolen, destroyed, or mutilated
      shall be at any time enforceable by anyone. The Company shall maintain, at
      its
      offices, books for the registration and the registration of transfer of the
      Warrant.

     

    
      
        
        

      

      
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    5.    RIGHTS
      AND OBLIGATIONS OF THE HOLDER.
      The
      Holder shall not, by virtue of this Warrant, be entitled to any rights of a
      stockholder of the Company, either at law or equity, and the rights of the
      Holder are limited to those expressed in this Warrant and are not enforceable
      against the Company except to the extent set forth herein. In addition,
      no
      provision hereof, in the absence of affirmative action by the Holder to purchase
      shares of Common Stock, and no enumeration herein of the rights or privileges
      of
      the Holder hereof shall give rise to any liability of such Holder for the
      purchase price of any Common Stock or as a stockholder of the Company, whether
      such liability is asserted by the Company or by creditors of the
      Company.

     

    6.    ADJUSTMENT
      PROVISIONS.
      The
      Warrant Exercise Price in effect at any time and the number and kind of
      securities purchasable upon exercise of each Warrant, shall be subject to
      adjustment as follows. The Company shall give each Holder notice of any event
      described below which requires an adjustment pursuant to this Section 6 as
      soon
      as is reasonably practicable following such event:

     

    (a)  Weighted
      Average Adjustment.
      Except with respect to Permitted Issuances, in the event that the Company shall,
      at any time during the Exercise Period, sell any shares of Common Stock (or
      Convertible Securities or Other Securities) for a consideration per share less
      than the Warrant Exercise Price, then the Warrant Exercise Price shall (until
      another such issuance or sale) be reduced to a new price (calculated to the
      nearest full cent) equal to the quotient derived by dividing: (i) an amount
      equal to the sum of (A) the product of (1) the Warrant Price in effect
      immediately prior to such issuance or sale, multiplied by (2) the total number
      of shares of Common Stock outstanding immediately prior to such issuance or
      sale, plus (B) the aggregate of the amount of all consideration received by
      the
      Company upon such issuance or sale, by (ii) the total number of shares of Common
      Stock outstanding immediately after such issuance or sale; provided,
      however,
      that in no event shall the Warrant Price be adjusted pursuant to this
      computation to an amount in excess of the Warrant Exercise Price in effect
      immediately prior to such computation.

     

    (b)  Reorganization,
      Consolidation, Merger, etc.
      In case
      at any time or from time to time, the Company shall: (i) effect a
      reorganization, (ii) consolidate with or merge into any other person, or (iii)
      transfer all or substantially all of its properties or assets to any other
      person under any plan or arrangement contemplating the dissolution of the
      Company, then, in each such case, as a condition to the consummation of such
      a
      transaction, proper and adequate provision shall be made by the Company whereby
      the Holder of this Warrant, on the exercise hereof at any time after the
      consummation of such reorganization, consolidation or merger or the effective
      date of such dissolution, as the case may be, shall receive, in lieu of the
      Common Stock (or Other Securities) issuable on such exercise prior to such
      consummation or such effective date, the stock and other securities and property
      (including cash) to which such Holder would have been entitled upon such
      consummation or in connection with such dissolution, as the case may be, if
      such
      Holder had so exercised this Warrant, immediately prior thereto, all subject
      to
      further adjustment thereafter as provided herein.

     

    (c)  Dissolution.
      In the
      event of any dissolution of the Company following the transfer of all or
      substantially all of its properties or assets, the Company, concurrently with
      any distributions made to holders of its Common Stock, shall, upon exercise
      of
      this Warrant (if any), at its expense deliver or cause to be delivered to the
      Holder the stock and other securities and property (including cash, where
      applicable) receivable by the Holder of this Warrant, or, if the Holder shall
      so
      instruct the Company, to a bank or trust company specified by the Holder and
      having its principal office in New York, N.Y., as trustee for the Holder of
      this
      Warrant (the “Trustee”).

     

    (d)  Continuation
      of Terms.
      Upon
      any reorganization, consolidation, merger or transfer (and any dissolution
      following any transfer) referred to in this Section 6, this Warrant shall
      continue in full force and effect and the terms hereof shall be applicable
      to
      the shares of stock and other securities and property receivable on the exercise
      of this Warrant after the consummation of such reorganization, consolidation
      or
      merger or the effective date of dissolution following any such transfer, as
      the
      case may be, and shall be binding upon the issuer of any such stock or other
      securities, including, in the case of any such transfer, the person acquiring
      all or substantially all of the properties or assets of the Company, whether
      or
      not such person shall have expressly assumed the terms of this Warrant. In
      the
      event this Warrant does not continue in full force and effect after the
      consummation of the transactions described in this Section 6, then, upon
      exercise of this Warrant, the Company’s securities and property (including cash,
      where applicable) receivable by the Holder of this Warrant will be delivered
      to
      the Holder or the Trustee as contemplated by Section 6(b).

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    (e)  Extraordinary
      Events Regarding Common Stock.
      In the
      event that the Company shall: (i) issue additional shares of the Common Stock
      as
      a dividend or other distribution on outstanding Common Stock or any preferred
      stock issued by the Company, (ii) subdivide its outstanding shares of Common
      Stock, or (iii) combine its outstanding shares of the Common Stock into a
      smaller number of shares of the Common Stock (each of the preceding clauses
      (i)
      through (iii), inclusive, an “Event”),
      then,
      on the occurrence of each such Event, the number of shares of Common Stock
      that
      the Holder shall thereafter be entitled to receive, on the exercise of this
      Warrant shall be increased or decreased to a number determined by multiplying
      the number of shares of Common Stock that would, immediately prior to the
      occurrence of such Event, be issuable upon the exercise of this Warrant by
      a
      fraction of which: (A) the numerator is the number of issued and outstanding
      shares of Common Stock immediately after the occurrence of such Event, and
      (B)
      the denominator is the number of issued and outstanding shares of Common Stock
      immediately prior to the occurrence of such Event.

     

    (f)  No
      Impairment.
      The
      Company will not, by amendment of its Certificate of Incorporation or Bylaws,
      or
      through reorganization, consolidation, merger, dissolution, issue or sale of
      securities, sale of assets or any other voluntary action, avoid or seek to
      avoid
      the observance or performance of any of the terms of this Warrant, but will
      at
      all times in good faith assist in the carrying out of all such terms and in
      the
      taking of all such action as may be necessary or appropriate in order to protect
      the rights of the Holder of this Warrant against dilution or other impairment.
      Without limiting the generality of the foregoing, while this Warrant is
      outstanding, the Company: (1) will not permit the par value, if any, of the
      shares of Common Stock receivable upon the exercise of this Warrant to be above
      the amount payable therefor upon such exercise, and (ii) will take all such
      action as may be necessary or appropriate in order that the Company may validly
      and legally issue or sell fully paid and non-assessable shares of capital stock
      upon the exercise of this Warrant.

     

    (g)  No
      Change Based on Permitted Issuances.
      Notwithstanding the foregoing, no adjustment pursuant to this Section 6 shall
      be
      effected due to, or as a result of, any Permitted Issuances.

     

    7.    OFFICER’S
      CERTIFICATE.
      Whenever the Warrant Exercise Price(s) shall be adjusted as required by the
      provisions of Section 6 of this Warrant, the Company shall forthwith file in
      the
      custody of its Secretary or an Assistant Secretary at its principal office
      and
      with its stock transfer agent, if any, an officer’s certificate showing the
      adjusted Warrant Exercise Price(s) and the adjusted number of shares of Common
      Stock issuable upon exercise of this Warrant, determined as herein provided,
      setting forth in reasonable detail the facts requiring such adjustment,
      including a statement of the number of additional shares of Common Stock, if
      any, and such other facts as shall be necessary to show the reason for and
      the
      manner of computing such adjustment. Each such officer’s certificate shall be
      forwarded to the Holder in the manner provided in Section 12 hereof.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

       

    

    8.    NOTICES
      TO WARRANT HOLDERS.
      So long
      as this Warrant shall be outstanding, (a) if the Company shall pay any dividend
      or make any distribution upon Common Stock, or (b) if the Company shall offer
      to
      the holders of Common Stock for subscription or purchase by them any share
      of
      any class or any other rights, or (c) if any capital reorganization of the
      Company, reclassification of the capital stock of the Company, consolidation
      or
      merger of the Company with or into another entity, tender offer transaction
      for
      the Company’s Common Stock, sale, lease or transfer of all or substantially all
      of the property and assets of the Company, or voluntary or involuntary
      dissolution, liquidation or winding up of the Company shall be effected, then
      in
      any such case, the Company shall cause to be mailed by certified mail to the
      Holder, at least ten (10) days prior to the date specified in clauses (a),
      (b),
      or (c), as the case may be, of this Section 8 a notice containing a brief
      description of the proposed action and stating the date on which: (i) a record
      is to be taken for the purpose of such dividend, distribution or rights, or
      (ii)
      such reclassification, reorganization, consolidation, merger, tender offer
      transaction, conveyance, lease, dissolution, liquidation or winding up is to
      take place and the date, if any is to be fixed, as of which the holders of
      Common Stock or other securities shall receive cash or other property
      deliverable upon such reclassification, reorganization, consolidation, merger,
      conveyance, dissolution, liquidation or winding up.

     

    9.    REDEMPTION.

     

    (a) Redemption
      Option.
      Upon
      the satisfaction of the Redemption Conditions, the Company may, at the option
      of
      its Board of Directors at any time following the final closing of the Placement
      redeem all (but not less than all) of the Warrants, out of funds legally
      available therefor by paying the Redemption Price (as hereafter defined) in
      cash
      for each Warrant then redeemed.

     

    (b) Redemption
      Price.
      The
      Redemption Price shall be Five Cents ($.05) per Warrant Share, subject to
      adjustment for any stock split, stock dividend, recapitalization, combination
      or
      adjustment after the date hereof. 

     

    (c) Notice.
      Notice
      of any proposed redemption of the Warrants pursuant to this Section 9 shall
      be
      given by the Company by sending by certified mail, postage prepaid, a copy
      of
      such notice (the “Redemption
      Notice”)
      at
      least thirty (30) days prior to the date on which it proposes to redeem the
      Warrants (the “Redemption
      Date”)
      to the
      holders of the Warrants including the Holder or any subsequent holder(s) of
      record of this Warrant, at their respective addresses appearing on the books
      of
      the Company or given by such holder(s) to the Company for the purposes of
      notice, or if no such address appears or is given, at the principal office
      of
      the Company. Such notice shall state the Redemption Date to which such notice
      relates, the number of Warrants to be redeemed from all holders thereof and
      from
      the Holder of this Warrant, the Redemption Price per Warrant, the record date
      for purposes of such redemption and the date on which such holders’ right to
      exercise the Warrants will terminate, and shall call upon the Holders to
      surrender to the Company on said Redemption Date at the place designated in
      the
      notice such holder's certificate or certificates representing the Warrants
      to be
      redeemed unless exercised prior to such date.

     

    (d) Payment.
      On the
      Redemption Date, the funds legally available for redemption of the Warrants
      shall be used to redeem the Warrants from the holders thereof at the Redemption
      Price and the Company shall be obligated to pay the holder(s) the Redemption
      Price of the Warrants to the extent they have not been exercised as of such
      date.

     

    (e) Redemption
      Procedures.
      On or
      after a Redemption Date, the Holder shall surrender this Warrant to the Company,
      or its agent, at the place designated in the aforesaid notice and shall
      thereupon be entitled to receive payment of the Redemption Price therefor.
      Upon
      payment of the Redemption Price each surrendered Warrant shall be
      cancelled.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    (f) Termination
      of Rights.
      Notwithstanding that the Warrants so called for redemption shall not have been
      surrendered, from and after the Redemption Date, all rights of the Holder of
      this Warrant and all other holders of Warrants shall forthwith cease and
      terminate, except for right of the Holder to receive payment of the Redemption
      Price upon surrender of this Warrant.

     

    10.   TRANSFER
      TO COMPLY WITH THE SECURITIES ACT.
      This
      Warrant, the Warrant Shares or any other security issued or issuable upon the
      exercise of this Warrant may not be sold or otherwise disposed of except as
      follows:

     

    (a) to
      a
      person who, in the opinion of counsel for the Company, is a person to whom
      this
      Warrant or Warrant Shares may legally be transferred without registration and
      without the delivery of a current prospectus under the Securities Act with
      respect thereto and then only against receipt by the Company of an agreement
      of
      such person to comply with the provisions of this Section 10 with respect to
      any
      resale or other disposition of such securities, which agreement shall be
      satisfactory in form and substance to the Company and its counsel;
      or 

     

    (b) to
      any
      person upon delivery of a prospectus then meeting the requirements of the
      Securities Act relating to such securities and the offering thereof for such
      sale or disposition.

     

    11.   GOVERNING
      LAW; JURISDICTION.
      The corporate laws of the State
      of Nevada shall govern all issues concerning the relative rights of the Company
      and its stockholders. All issues concerning the construction, validity,
      enforcement and interpretation of this Warrant shall be governed by and
      construed in accordance with the internal laws of the State of New York without
      giving effect to the principles of conflicts of law thereof. The
      parties hereto agree that venue in any and all actions and proceedings related
      to the subject matter of this Warrant shall be in the state and federal courts
      in and for New York County, New York, which courts shall have exclusive
      jurisdiction for such purpose, and the parties hereto irrevocably submit to
      the
      exclusive jurisdiction of such courts and irrevocably waive the defense of
      an
      inconvenient forum to the maintenance of any such action or proceeding. Service
      of process may be made in any manner recognized by such courts. This Warrant
      and
      any term hereof may be changed, waived, discharged or terminated only by an
      instrument in writing signed by the party against which enforcement of the
      change, waiver, discharge or termination is sought.

     

    12.    NOTICES.
      Any and
      all notices or other communications or deliveries required or permitted to
      be
      provided hereunder shall be in writing and shall be deemed given and effective
      on the earliest of (a) the date of transmission, if such notice or communication
      is delivered via
      facsimile at the facsimile telephone number specified in this Section prior
      to
      6:30 p.m. (New York City time) on a Business Day, (b) the Business Day after
      the
      date of transmission, if such notice or communication is delivered via
      facsimile at the facsimile telephone number specified in this Agreement later
      than 6:30 p.m. (New York City time) on any date and earlier than 11:59 p.m.
      (New
      York City time) on such date, (c) the Business Day following the date of
      mailing, if sent by nationally recognized overnight courier service, or (d)
      upon
      actual receipt by the party to whom such notice is required to be given. The
      address for such notices and communications shall be as follows:

     

    If
      to the
      Company: 

    

    Disaster
      Preparedness Systems, Inc.

    3531
      Commercial Street 

    Vancouver,
      B.C. Canada V5N 4E8

    Attn:
      Mark Henrickson

    Tel:
      (604) 785-0184, Fax: (604) 676-2821

    

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    With
      a
      copy to:

    

    Ellenoff
      Grossman & Schole LLP

    370
      Lexington Avenue

    New
      York,
      NY 10017

    Attn:
      Barry I. Grossman, Esq.

    Tel:
      (212) 370-1300, Fax: (212) 370-7889

    

    If
      to the
      Holder To
      the
      Address Set Forth In the Records of the Company

    

    With
      copies to: 

    

    Joseph
      Stevens & Company, Inc.

    59
      Maiden
      Lane

    New
      York,
      N.Y. 10038

    Facsimile
      No.: (212) 361-3333

    Attn:
      Fabio Migliaccio

    

    13.   PAYMENT
      OF TAXES.
      The
      Company will pay the cost of all applicable documentary stamp taxes, if any,
      attributable to the issuance of shares of Common Stock underlying this Warrant
      upon exercise of this Warrant; provided,
      however,
      that
      the Company shall not be required to pay any tax which may be payable in respect
      of any transfer involved in the registration of any certificate for shares
      of
      Common Stock underlying this Warrant in a name other that of the Holder. The
      Holder is responsible for all other tax liability that may arise as a result
      of
      holding or transferring this Warrant or receiving shares of Common Stock
      underlying this Warrant upon exercise hereof.

     

    14.   INCONSISTENCIES.
      To the
      extent there are any inconsistencies between the terms and provisions of this
      Warrant and the terms and provisions of the Subscription Agreement or the
      Memorandum, the terms and provisions of this Warrant shall govern and be
      controlling.

     

    IN
      WITNESS WHEREOF,
      this
      Warrant has been duly executed as of September 1, 2006.

     

    
      	 	 	 
	 	DISASTER
              PREPAREDNESS SYSTEMS, INC.
	 
 	 
 	 
 
	Date: 	By:  	
            
	 	
              
Name:
	 	Address:
              

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

    

    FORM
      OF EXERCISE NOTICE

    

    [To
      be
      executed only upon exercise of Warrant]

    

    

    To
      DISASTER PREPAREDNESS SYSTEMS, INC.:

    

    The
      undersigned registered holder of the within Warrant hereby irrevocably exercises
      the Warrant pursuant to Section 2 of the Warrant with respect to
      __________(1)
      shares
      of the Common Stock, at an exercise price per share of Common Stock of $____,
      which the holder would be entitled to receive upon the cash exercise hereof,
      and
      requests that the certificates for the shares be issued in the name of, and
      delivered to, whose address is:

    

     

     

    
      	Dated: 	 	 	 
	 	
              
 	 	 
	 	 	 	
              
Print
              or Type Name 
	 	 	 	
               

               

            
	 	 	 	
              
(Signature
              must conform in all respects to name of holder as
              specified on the face of Warrant) 
	 	 	 	
               

               

            
	 	 	 	
              
(Street
              Address) 
	 	 	 	
               

               

            
	 	 	 	
              
(City)
              (State) (Zip
              Code) 

    

    _______________________

    (1)    Insert
      here the number of shares called for on the face of this Warrant (or, in the
      case of a partial exercise, the portion thereof as to which this Warrant is
      being exercised), in either case without making any adjustment of shares of
      Common Stock or any other stock or other securities or property or cash which,
      pursuant to the adjustment provisions of this Warrant, may be delivered upon
      exercise. In the case of a partial exercise, a new Warrant or Warrants will
      be
      issued and delivered, representing the unconverted portion of the Warrant,
      to
      the holder surrendering the Warrant.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    ASSIGNMENT
      FORM

     

     

    FOR
      VALUE RECEIVED,
      _______________________________________ hereby sells, assigns and transfer
      unto:

     

    
      	Name: 	 	 	 
	 	
              
                
 (Please
                typewrite or print in block
                letters)

            	 	 
	Address: 	
               

               

            	 	 
	 	
              
 	 	 

    

    Social
      Security or Employer Identification No.:__________________________

     

    The
      right
      to purchase Common Stock represented by this Warrant to the extent of shares
      as
      to which such right is exercisable and does hereby irrevocably constitute and
      appoint _________ as attorney to transfer the same on the books of the Company
      with full power of substitution.

     

    Dated:
      _________________, 200_.

     

     

    Signature:___________________________

     

    

    Signature
      Guaranteed:

     

    ___________________________________

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