Document:

Exhibit 4.6

 

[Form of Stock Convertible Debenture]

 

THIS DEBENTURE, AND THE SECURITIES INTO
WHICH IT IS CONVERTIBLE (COLLECTIVELY, THE “SECURITIES”), HAVE NOT BEEN REGISTERED WITH THE UNITED STATES SECURITIES
AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE. THE SECURITIES ARE BEING OFFERED PURSUANT TO A SAFE HARBOR FROM
REGISTRATION UNDER REGULATION D PROMULGATED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THE SECURITIES
ARE “RESTRICTED” AND MAY NOT BE OFFERED OR SOLD UNLESS THE SECURITIES ARE REGISTERED UNDER THE ACT, PURSUANT
TO REGULATION D OR PURSUANT TO AVAILABLE EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND THE COMPANY WILL BE PROVIDED
WITH OPINION OF COUNSEL OR OTHER SUCH INFORMATION AS IT MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH EXEMPTIONS ARE AVAILABLE. FURTHER
HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE MADE EXCEPT IN COMPLIANCE WITH THE ACT.

 

DEBENTURE

 

VERTICAL COMPUTER SYSTEMS, INC.

 

__% Convertible Debenture

 

Due _____________20__

 

$____________

 

This Debenture is issued by VERTICAL
COMPUTER SYSTEMS, INC., a Delaware corporation (the “Company”), to _______________________________ (together
with Holder’s permitted successors and assigns, the “Holder”) pursuant to exemptions from registration
under the Securities Act of 1933, as amended.

 

ARTICLE I.

 

Section 1.01         Principal
and Interest. For value received, on _______________, 20__, the Company hereby promises to pay to the order of the Holder
in lawful money of the United States of America and in immediately available funds the principal sum of _____________________ dollars
(US $_________), together with interest on the unpaid principal of this Debenture at the rate of ___ percent (__%)
per year (computed on the basis of a 365-day year and the actual days elapsed) from the date of this Debenture until paid. At the
Holder’s option, the entire principal amount and all accrued interest thereon shall be either (a) paid to the Holder no later
than the six (6) month anniversary from the date hereof or (b) converted in accordance with Section 1.02 herein. Notwithstanding
the provisions of this Section 1.01 or anything to the contrary contained in this Debenture or elsewhere, in the event (a) Holder
elects not to convert all of the principal amount of the Debenture pursuant to the terms and conditions of this Debenture, and
(b) the Company does not elect to redeem the entire outstanding convertible debenture pursuant to Section 1.04 below, the Company
promises to pay to Holder or its order, in lawful money of the United States of America and in immediately available funds, the
entire principal amount, all accrued interest thereon and any and all other amounts due hereunder on ___________, 20__.

 

     

     

    

 

Section 1.02         Optional
Conversion. Commencing ______ (__) months after the date hereof, the Holder is entitled, for an additional period of ____
(__) months, at the Holder’soption and upon written notice to the Company, to convert, and sell on the same day, at any time
and from time to time, until payment in full of this Debenture, all or any part of the principal amount of the Debenture, plus
accrued interest, into shares (the “Conversion Shares”) of the Company’s common stock, par value $0.001
per share (“Common Stock”), at the price per share (the “Conversion Price”) equal to
the amount equal to __________ percent (__%) of the average three (3) lowest Closing Prices of the Common Stock for the ____
(__) trading days immediately preceding the Conversion Date (as defined herein) . As used herein, “Principal Market”
shall mean The New York Stock Exchange, The National Association of Securities Dealers Inc., the OTC (Over-The-Counter Bulletin
Board), Nasdaq Small Cap Market, or American Stock Exchange, or any successor market. If the Common Stock is not traded on a Principal
Market, the Closing Price shall mean, the reported Closing Price for the Common Stock, as furnished by the National Association
of Securities Dealers, Inc., for the applicable periods. No fraction of shares or scrip representing fractions of shares will be
issued on conversion, but the number of shares issuable shall be rounded up to the nearest whole share. To convert this Debenture,
the Holder hereof shall deliver written notice thereof, substantially in the form of Exhibit “A” to this
Debenture, with appropriate insertions (the “Conversion Notice”), to the Company at its address as set forth
herein. The date upon which the conversion shall be effective (the “Conversion Date”) shall be deemed to be
the date the Company receives the Conversion Notice.

 

Section 1.03         The
Company shall not affect any conversion of this Note, and the Holder shall not have the right to convert any portion of this Note,
to the extent that after giving effect to the conversion set forth on the applicable notice of conversion in the form attached
hereto as Exhibit A (the “Notice of Conversion”), the Holder (together with the Holder’s affiliates, and any
other person or entity acting as a group together with the Holder or any of its affiliates) would beneficially own in excess of
the Beneficial Ownership Limitation (as defined below). For purposes of the foregoing sentence, the number of shares of Common
Stock beneficially owned by the Holder and its affiliates includes the number of shares of Common Stock issuable upon conversion
of this Note with respect to which such determination is being made, but excludes the number of shares of Common Stock which are
issuable upon (i) conversion of the remaining, unconverted principal amount of this Note beneficially owned by the Holder
or any of its affiliates and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities
of the Company subject to a limitation on conversion or exercise analogous to the limitation contained herein (including, without
limitation, any other Notes) beneficially owned by the Holder or any of its affiliates. Except as set forth in the preceding sentence,
for purposes of this Section 3(f), beneficial ownership is calculated in accordance with Section 13(d) of the Securities Exchange
Act of 1934 and the rules and regulations promulgated thereunder. To the extent that the limitation contained in this Section 1.04
applies, the determination of whether this Note is convertible (in relation to other securities owned by the Holder together with
any affiliates) and of which principal amount of this Note is convertible will be in the sole discretion of the Holder, and the
submission of a Notice of Conversion will be deemed to be the Holder’s determination of whether this Note may be converted
(in relation to other securities owned by the Holder together with its affiliates) and which principal amount of this Note is convertible,
in each case subject to such aggregate percentage limitations. For purposes of this Section 1.04, in determining the number of
outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as stated in the most
recent notice by the Company or the Company’s transfer agent setting forth the number of shares of Common Stock outstanding.
Upon the written or oral request of the Holder, the Company shall within two trading days confirm orally and in writing to the
Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall
be determined after giving effect to the conversion or exercise of securities of the Company, including this Note, by the holder
or its affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The “Beneficial
Ownership Limitation” shall be 9.99% of the number of shares of Common Stock outstanding immediately after giving effect
to the issuance of shares of Common Stock issuable upon conversion of this Note. The limitations contained in this Section 104
apply to a successor Holder.

 

    	 	2	 

     

    

 

Section 1.04         Reservation
of Common Stock. The Company shall reserve and keep available out of its authorized but unissued shares of Common Stock,
solely for the purpose of effecting the conversion of this Debenture, such number of shares of Common Stock as shall from time
to time be sufficient to effect such conversion, based upon the Conversion Price.

 

Section 1.05         Right
of Redemption. The Company at its option shall have the right to redeem, with ten (10) business days advance written notice
(the “Redemption Notice”), a portion of or the entire outstanding convertible debenture. The redemption price shall
be ______________ percent (___%) of the amount redeemed plus accrued interest.

 

Section 1.06         Interest
Payments. The interest so payable will be paid at the time of maturity or conversion to the person in whose name this Debenture
is registered. At the time such interest is payable, the Company, in its sole discretion, may elect to pay interest in cash (via
wire transfer or certified funds) or in the form of Common Stock. In the event of default, as described in Article III Section 3.01
hereunder, the Company may elect that the interest be paid in cash (via wire transfer or certified funds) or in the form of Common
Stock. If paid in the form of Common Stock, the amount of stock to be issued will be calculated as follows: the value of the stock
shall be the Closing Price on: (i) the date the interest payment is due; or (ii) if the interest payment is not made
when due, the date the interest payment is made. A number of shares of Common Stock with a value equal to the amount of interest
due shall be issued. No fractional shares will be issued; therefore, in the event that the value of the Common Stock per share
does not equal the total interest due, the Company will pay the balance in cash.

 

Section 1.07         Paying
Agent and Registrar. Initially, the Company will act as paying agent and registrar. The Company may change any paying
agent, registrar, or Company-registrar by giving the Holder not less than ten (10) business days’ written notice of
its election to do so, specifying the name, address, telephone number and facsimile number of the paying agent or registrar. The
Company may act in any such capacity.

 

ARTICLE II.

 

Section 2.01         Amendments
and Waiver of Default. The Debenture may not be amended without the consent of the Holder. Notwithstanding the above, without
the consent of the Holder, the Debenture may be amended to cure any ambiguity, defect or inconsistency, or to make any change that
does not adversely affect the rights of the Holder.

 

    	 	3	 

     

    

 

ARTICLE III.

 

Section 3.01         Events
of Default. An Event of Default is defined as follows: (a) failure by the Company to pay amounts due hereunder within
fifteen (15) business days of the date of maturity of this Debenture; (b) failure by the Company’s transfer agent to
issue Common Stock to the Holder within fifteen (15) business days of the Company’s receipt of a valid Notice of Conversion
from Holder; or (c) events of bankruptcy or insolvency affecting the Company.
In an Event of Default (as defined in hereof) under this Debenture, Holder shall have the right to accelerate the full repayment
of all amounts due hereunder and the principal balance outstanding under this Debenture, from time to time, shall bear interest
at the rate of _____ percent (__%) per annum, computed as described in Section 1.01 above, until such Default and any and all other
Defaults hereunder are cured or all amounts due hereunder are paid by the Company.

 

Section 3.02         Failure
to Issue Unrestricted Common Stock. As indicated in Article III Section 3.01, a breach by the Company of its
obligations under Section 1.04 shall be deemed an Event of Default, which if not cured within fifteen (15) business days, shall
entitle the Holder accelerated full repayment of the Debenture.

 

ARTICLE IV.

 

Section 4.01         Rights
and Terms of Conversion. Unless redeemed by the Company pursuant to Section 1.05, this Debenture, in whole or in part,
may be converted, at the election of Holder, at any time after one hundred and eighty (180) days following the date of closing,
into shares of Common Stock at a price equal to the Conversion Price in accordance with the terms of Section 1.02.

 

Section 4.02         Re-issuance
of Debenture. When the Holder elects to convert a part of the Debenture, then the Company shall reissue a new Debenture
in the same form as this Debenture to reflect the new principal amount.

 

Section 4.03         Termination
of Conversion Rights. The Holder’s right to convert the Debenture into the Common Stock in accordance with Section
4.01 shall terminate on the date that is the first(1st) year anniversary from the date hereof.

 

Section 4.04         Restriction
on Short Sale of Stock. The Holder hereby acknowledges and agrees that it shall not short sell the Common Stock except
in connection with a Conversion Notice, and thereafter only such number of Conversion Shares it receives with respect to such Conversion
Notice.

 

ARTICLE V.

 

Section 5.01         Anti-dilution.
In the event that the Company shall at any time subdivide the outstanding shares of Common Stock, or shall issue a stock dividend
on the outstanding Common Stock, the Conversion Price in effect immediately prior to such subdivision or the issuance of such dividend
shall be proportionately decreased, and in the event that the Company shall at any time combine the outstanding shares of Common
Stock, the Conversion Price in effect immediately prior to such combination shall be proportionately increased, effective at the
close of business on the date of such subdivision, dividend or combination as the case may be.

 

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ARTICLE VI.

 

Section 6.01         Notice.
Notices regarding this Debenture shall be sent to the parties at the following addresses, unless a party notifies the other
parties, in writing, of a change of address:

 

	If to the Company:	
        President/CEO

        Vertical Computer Systems, Inc.

	 	 
	 	101 West Renner Road, Suite 300
	 	Richardson, Texas 75082
	 	 
	If to the Holder:	_____________________
	 	_____________________.
	 	_____________________

 

Section 6.02         Governing
Law. This Debenture shall be deemed to be made under and shall be construed in accordance with the laws of the State of
Delaware without giving effect to the principals of conflict of laws thereof. Each of the parties consents to the jurisdiction
of the U.S. District Court sitting in the District of the State of Texas or the state courts of the State of Texas sitting in Dallas,
Texas in connection with any dispute arising under this Debenture and hereby waives, to the maximum extent permitted by law, any
objection, including any objection based on forum non conveniens to the bringing of any such proceeding in
such jurisdictions.

 

Section 6.03         Severability.
The invalidity of any of the provisions of this Debenture shall not invalidate or otherwise affect any of the other provisions
of this Debenture, which shall remain in full force and effect.

 

Section 6.04         Entire
Agreement and Amendments. This Debenture represents the entire agreement between the parties hereto with respect to the
subject matter hereof and there are no representations, warranties or commitments, except as set forth herein. This Debenture may
be amended only by an instrument in writing executed by the parties hereto.

 

Section 6.05         Counterparts.
This Debenture may be executed in multiple counterparts, each of which shall be an original, but all of which shall be deemed
to constitute on instrument.

 

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IN WITNESS WHEREOF,
with the intent to be legally bound hereby, the Company as executed this Debenture as of the date first written above.

 

	 	VERTICAL COMPUTER SYSTEMS, INC.
	 	 	 
	 	By:	
	 	Name:   Richard S. Wade
	 	Title:    President/CEO

 

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EXHIBIT “A”

 

NOTICE OF CONVERSION

 

(To be executed by the Holder in order
to Convert the Note)

 

TO:

 

The undersigned hereby
irrevocably elects to convert $_________________________ of the principal amount of the above Note into Shares of Common Stock
of Vertical Computer Systems, Inc., according to the conditions stated therein, as of the Conversion Date written below.

 

	Conversion Date:	 	 
	 	 	 
	Applicable Conversion Price:	 	 
	 	 	 
	Signature:	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Address:	 	 
	 	 	 
	Amount to be converted: $	 	 
	 	 	 
	Amount of Debenture unconverted: $	 	 
	 	 	 
	Conversion Price per share: $	 	 
	 	 	 
	Number of shares of Common Stock to be issued:	 	 
	 	 	 
	Please issue the shares of Common Stock in the following name and to the following address:	 	 
	 	 	 
	Issue to:	 	 
	 	 	 
	Authorized Signature:	 	 
	 	 	 
	Name:	 	 
	 	 	 
	Title:	 	 
	 	 	 
	Phone Number:	 	 

 

    	 	A-1Exhibit 4.7

 

[Form of Stock Purchase Warrant]

 

THIS WARRANT AND THE SHARES OF COMMON STOCK
ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES
LAWS. 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 SAID ACT AND ANY APPLICABLE STATE SECURITIES LAWS
OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO VERTICAL COMPUTER SYSTEMS, INC. THAT SUCH REGISTRATION IS NOT REQUIRED.

 

Right to Purchase up to __________ Shares
of Common Stock of

Vertical Computer Systems, Inc. 

(subject to adjustment as provided herein)

 

COMMON STOCK
PURCHASE WARRANT

 

	No. __	Issue Date:  _______, 20__

 

THIS WARRANT CERTIFIES
THAT, for good and valuable consideration, __________ (“Holder”) is entitled to purchase _______________
(_______) fully paid and nonassessable shares of common stock (the “Shares”) of Vertical Computer Systems,
Inc., a Delaware corporation (the “Company”) at $____.__ per Share (the “Exercise Price”),
subject to the provisions and upon the terms and conditions set forth in this Warrant.

 

ARTICLE 1. VESTING; EXERCISE.

 

1.1           Exercise
Price; Vesting. The Exercise Price is $____.__ per Share. This Warrant shall vest 100% on the date of issuance, and may be
exercised, in whole or in part at any time and from time to time, following the date as of which the Company’s certificate
of incorporation has been amended to provide sufficient common stock to accommodate the exercise. This Warrant must be exercised
prior to 5:00 p.m., Dallas, Texas time on _______, 20__.

 

1.2           Method
of Exercise. Holder may exercise this Warrant by delivering to the principal office of the Company, a duly executed Notice
of Exercise in substantially the form attached hereto as Exhibit A, accompanied by [OPTION 1: payment in full of the Exercise
Price payable in respect of the number of shares of Common Stock purchased upon such exercise] OR [OPTION 2- Cashless Exercise
Provision (i) payment in full of the Exercise Price payable in respect of the number of shares of Common Stock purchased upon such
exercise or (ii) without the payment by the Holder of any additional consideration, by surrender of this Warrant together with
Notice of Exercise, in which event the Company shall issue to the Holder a number of Warrant Shares computed using the following
formula:

 

X  =  Y
(A–B)

A

 

where:  X =       The
number of Warrant Shares to be issued to the Holder pursuant to this cashless exercise;

 

    	 	1	 

     

    

 

Y  =       The number
of Warrant Shares in respect of which the cashless exercise election is made;

A =       The fair
market value of one Warrant Share at the time the cashless exercise election is made; and

B  =        The Warrant
Exercise Price (as adjusted to the date of the cashless issuance).]

 

For purposes of this
subparagraph, the fair market value of one Warrant Share as of a particular date shall be determined as follows: (i) if traded
on a securities exchange, the value shall be deemed to be the average of the closing prices of the securities on such exchange
over the ________ period ending ____ days prior to the net exercise election; (ii) if traded over-the-counter, the value shall
be deemed to be the average of the closing bid or sale prices (whichever is applicable) over the thirty-day period ending three
days prior to the net exercise; and (iii) if there is no active public market, the value shall be the fair market value thereof,
as determined in good faith by the Company’s board of directors.

 

1.3.          Fractional
Shares. No fractional Shares shall be issuable upon exercise of this Warrant and the number of Shares to be issued shall be
rounded up to the nearest whole Share.

 

1.4           Delivery
of Certificate and New Warrant. Promptly after Holder exercises this Warrant and the Company receives payment of the aggregate
Exercise Price, the Company shall deliver to Holder certificates for the Shares acquired and, if this Warrant has not been fully
exercised and has not expired, a new Warrant representing the Shares not so acquired.

 

1.5           Replacement
of Warrant. On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of
this Warrant and, in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form
and amount to the Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company shall execute
and deliver, in lieu of this Warrant, a new warrant of like tenor.

 

ARTICLE 2. ADJUSTMENTS TO THE SHARES.

 

2.1           Stock
Dividends, Splits, Etc. If the Company declares or pays a dividend on the Shares payable in common stock or other securities,
then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and
kind of securities to which Holder would have been entitled had Holder owned the Shares of record as of the date the dividend occurred.
If the Company subdivides the Shares by reclassification or otherwise into a greater number of shares or takes any other action
which increases the amount of stock into which the Shares are convertible, the number of shares purchasable under this Warrant
shall be proportionately increased and the Exercise Price shall be proportionately decreased. If the outstanding shares are combined
or consolidated, by reclassification or otherwise, into a lesser number of shares, the Exercise Price shall be proportionately
increased and the number of Shares purchasable hereunder shall be proportionately decreased.

 

    	 	2	 

     

    

 

2.2           Reclassification,
Exchange, Combinations or Substitution. Upon any reclassification, exchange, substitution or other event that results in a
change of the number and/or class of the securities issuable upon exercise of this Warrant, Holder shall be entitled to receive,
upon exercise of this Warrant, the number and kind of securities and property that Holder would have received for the Shares if
this Warrant had been exercised immediately before such reclassification, exchange, substitution or other event. The Company or
its successor shall promptly issue to Holder an amendment to this Warrant setting forth the number and kind of such new securities
or other property issuable upon exercise of this Warrant as a result of such reclassification, exchange, substitution or other
event that results in a change of the number and/or class of securities issuable upon exercise of this Warrant. The amendment to
this Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided
for in this Article 2 including, without limitation, adjustments to the Exercise Price and to the number of securities or property
issuable upon exercise of the new Warrant. The provisions of this Article 2.2 shall similarly apply to successive reclassifications,
exchanges, substitutions or other events.

 

2.3           No
Impairment. The Company shall not, by amendment of its Articles of Incorporation or through a reorganization, transfer of assets,
consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance
or performance of any of the terms to be observed or performed under this Warrant by the Company, but shall at all times in good
faith assist in carrying out of all the provisions of this Article 2 and in taking all such action as may be necessary or appropriate
to protect Holder’s rights under this Article against impairment.

 

2.4           Certificate
as to Adjustments. Upon each adjustment of the Exercise Price, the Company shall promptly notify Holder in writing, and, at
the Company’s expense, promptly compute such adjustment, and furnish Holder with a certificate of its Chief Financial Officer
setting forth such adjustment and the facts upon which such adjustment is based. The Company shall, upon written request, furnish
Holder a certificate setting forth the Exercise Price in effect upon the date thereof and the series of adjustments leading to
such Exercise Price.

 

ARTICLE 3. REPRESENTATIONS AND COVENANTS
OF THE COMPANY.

 

3.1           Notice
of Certain Events. If the Company proposes at any time (a) to declare any dividend or distribution upon any of its stock, whether
in cash, property, stock or other securities and whether or not a regular cash dividend; (b) to effect any reclassification or
recapitalization of any of its stock; or (c) to merge or consolidate with or into any other corporation, or sell, lease, license
or convey all or substantially all of its assets, or to liquidate, dissolve or wind up, then, in connection with each such event,
the Company shall give Holder: (1) at least 10 days prior written notice of the date on which a record will be taken for such dividend
or distribution (and specifying the date on which the holders of common stock will be entitled thereto) or for determining rights
to vote, if any, in respect of the matters referred to in (b) and (c) above; (2) in the case of the matters referred to in (b)
and (c) above at least 10 days prior written notice of the date when the same will take place (and specifying the date on which
the holders of common stock will be entitled to exchange their common stock for securities or other property deliverable upon the
occurrence of such event).

 

3.2           Reserve.
The Company agrees at all times to reserve and hold available out of the aggregate of its authorized but unissued common stock
the number of shares of its common stock issuable upon the exercise of this Warrant. The Company further covenants and agrees that
all shares of common stock that may be delivered upon the exercise of this Warrant will, upon delivery, be fully paid and nonassessable
and free from all taxes, liens and charges with respect to the purchase thereof under this Warrant.

 

    	 	3	 

     

    

 

ARTICLE 4. MISCELLANEOUS.

 

4.1           Compliance
with Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise of this Warrant may not be transferred
or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the
transferee (including, without limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory
to the Company, as reasonably requested by the Company).

 

4.2           Notices.
Any notices, consents, waivers or other communications required or permitted to be given under the terms hereof must be in writing
and will be deemed to have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by email or
facsimile (provided confirmation of transmission is mechanically or electronically generated and kept on file by the sending party);
or (iii) one (1) business day after deposit with a nationally recognized overnight delivery service, in each case properly addressed
to the party to receive the same. The addresses and facsimile numbers for such communications shall be:

 

	If to the Company, to:	Vertical Computer Systems, Inc.
	 	
        101 W. Renner Road, Suite 300

        Richardson, TX 75082

	 	Attention:     Chief Executive Officer
	 	 
	If to the Holder:	__________________
	 	__________________
	 	__________________

 

or at such other address and/or facsimile
number and/or to the attention of such other person as the recipient party has specified by written notice given to each other
party three (3) business days prior to the effectiveness of such change.

 

4.3           Governing
Law, Jurisdiction and Venue. This Warrant shall be governed by and construed in accordance with the laws of the State of Texas,
without giving effect to its principles regarding conflicts of law.

 

IN WITNESS WHEREOF, the parties have executed this Warrant as
of the date first written above.

 

	 	“COMPANY”
	 	 
	 	Vertical Computer Systems, Inc.
	 	 	 
	 	By:	 
	 	 	Richard Wade, President/CEO
	 	 
	 	“HOLDER”
	 	 	 
	 	By:	 
	 	Name:  	 

 

    	 	4	 

     

    

 

Exhibit
A

 

NOTICE
OF EXERCISE

 

(To
Be Signed Only On Exercise of Warrant)

 

		To:	Vertical Computer Systems, Inc., Attention: Chief Executive
Officer

 

The undersigned, pursuant
to the provisions set forth in the attached Warrant (No. __________), hereby irrevocably elects to purchase ________ shares of
Common Stock of the Company, pursuant to the terms of such Warrant and tenders herewith:

 

$___________, in lawful
money, the full Exercise Price for such shares at the price per share provided for in such Warrant, or, if undersigned elects to
exercise the cashless exercise provision, ____________ of the shares purchasable under the Warrant
pursuant to the cashless exercise provisions of such Warrant.

 

The undersigned
requests that the certificates for such shares of Common Stock be issued in the name of, and delivered to
_______________________, whose address is ___________________________________________________________________________.

 

The undersigned represents
and warrants that all offers and sales by the undersigned of the shares of Common Stock issuable upon exercise of the attached
Warrant shall be made pursuant to registration of the Common Stock under the Securities Act of 1933, as amended (the “Securities
Act”) or pursuant to an exemption from registration under the Securities Act.

 

	Dated:	 	 	 
	 	 	 	(Signature must conform to name of holder as specified on the face of the Warrant)
	 	 	 	 
	 	 	 	Address:	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

    	 	5

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