Document:

Exhibit 10.1

SUBSCRIPTION AGREEMENT

          THIS
SUBSCRIPTION AGREEMENT (this “Agreement”),
dated as of ___, 2012, by and between Conolog Corporation, a Delaware
corporation with its headquarters located at 5 Columbia Road, Somerville, New
Jersey 08876 (the “Company”), and
the subscriber identified on the signature page hereto (the “Subscriber”).  

          WHEREAS,
the Company and Subscriber are executing and delivering this Agreement in
reliance upon an exemption from securities registration afforded by the
provisions of Section 4(2) and/or Regulation D (“Regulation D”) promulgated by the United States Securities and
Exchange Commission (the “Commission”)
under the Securities Act of 1933, as amended (the “Securities Act”); and 

          WHEREAS,
the parties hereto desire that, upon the terms and subject to the conditions
contained herein, the Company shall issue and sell to Subscriber, and
Subscriber shall purchase, in the aggregate, (i) that number of shares of
common stock, par value $.01 per share, of the Company (the “Common Stock”) as is set forth on the
signature page hereto (the “Shares”)
at an aggregate purchase price (the “Purchase
Price”) of Zero and 25/100 United States Dollars (US$0.25) and (ii)
a warrant permitting the Subscriber to purchase that certain amount of Shares
as is set forth on the signature page hereto at a per share price of Zero and
01/100 United States Dollars (US$0.01) subject to the terms and conditions
therein contained (the “Warrant”,
together with the Shares, the “Securities”). 

          NOW,
THEREFORE, in consideration of the mutual covenants
and other agreements contained in this Agreement, the Company and Subscriber
hereby agree as follows: 

                    1.
Purchase and Sale. Upon the terms and subject to the conditions set
forth in this Agreement, the Company hereby agrees to (i) sell, assign,
transfer and deliver to Subscriber, and Subscriber hereby agrees to purchase
and accept delivery from the Company, the Shares free of all liens, pledges,
mortgages, security interests, charges, restrictions, adverse claims or other
encumbrances of any kind or nature whatsoever (“Encumbrances”), for the consideration specified herein (such
consideration, on a per share basis, the “Share
Price”) and (ii) in consideration of the Share Price delivered by
the Subscriber to the Company, the Company hereby agrees to issue the Warrant to
the Subscriber upon receipt of payment for the Shares. 

                    2.
Subscriber Representations and Warranties. Subscriber hereby represents
and warrants to and agrees with the Company that: 

                              (a)
Standing of Subscriber. If Subscriber is an entity, such Subscriber is duly
organized, validly existing and in good standing under the laws of the 

jurisdiction of its formation. If Subscriber is a natural person, such
Subscriber is not a minor and has the legal capacity to enter into this
Agreement; 

                              (b)
Authorization and Power. Subscriber has the requisite power and authority to
enter into and perform this Agreement and to purchase the Shares and accept the
Warrants. The execution, delivery and performance of this Agreement by
Subscriber and, if Subscriber is an entity, the consummation by Subscriber of
the transactions contemplated hereby have been duly authorized by all necessary
company action, and no further consent or authorization of Subscriber, its
board of directors or similar governing body, or stockholders is required, as
applicable. This Agreement has been duly authorized, executed and delivered by
Subscriber and constitutes, or shall constitute when executed and delivered, a
valid and binding obligation of Subscriber, enforceable against Subscriber in
accordance with the terms thereof; 

                              (c)
No Conflicts. If Subscriber is an entity, the execution, delivery and
performance of this Agreement and the consummation by Subscriber of the
transactions contemplated hereby do not and will not result in a violation of
Subscriber’s charter documents, bylaws or other organizational documents, as
applicable; 

                              (d)
Information on Subscriber. Such Subscriber is an “accredited investor,” as such term is
defined in Rule 501(a) of Regulation D promulgated by the Commission under the
Securities Act and affirmed by Subscriber in the completed Purchaser
Questionnaire attached hereto as Exhibit A, is experienced in
investments and business matters, has made investments of a speculative nature
and has purchased securities of United States publicly-owned companies in
private placements in the past and, with its representatives, has such
knowledge and experience in financial, tax and other business matters as to
enable Subscriber to utilize the information made available by the Company to
evaluate the merits and risks of and to make an informed investment decision
with respect to the proposed purchase, which represents a speculative
investment. Subscriber is able to bear the risk of such investment for an
indefinite period and to afford a complete loss thereof. Subscriber is not
required to be registered as a broker-dealer under Section 15 of the Securities
Exchange Act of 1934, as amended; 

                              (e)
Purchase of Shares. Subscriber will purchase the Shares for its own
account for investment and not with a view toward, or for resale in connection
with, the public sale or any distribution thereof in violation of the
Securities Act or any applicable state securities law, and has no direct or
indirect arrangement or understandings with any other person or entity to
distribute or regarding the distribution of such Shares; 

                              (f)
Compliance with Securities Act. Subscriber understands and agrees that
the Shares are “restricted securities” and have not been registered under the
Securities Act or any applicable state securities laws by reason of their
issuance in a transaction that does not require registration under the
Securities Act, and that such Shares must be held indefinitely unless a
subsequent disposition is registered under the Securities Act or any applicable
state securities laws or is exempt from such registration; 

                              (g)
Legend. The Shares shall bear the following or similar legend: 

	
  

 	
  

 
	
  

 	
  “THE ISSUANCE AND SALE OF THE SECURITIES
 REPRESENTED BY THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES
 ACT OF 1933, AS AMENDED, NOR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES
 MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE
 OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE
 SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (REASONABLY
 ACCEPTABLE TO THE COMPANY), IN AN ACCEPTABLE FORM, THAT REGISTRATION IS NOT
 REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A
 UNDER SAID ACT.” 

 

                              
(h) Warrant Legend. The Warrant shall
bear the following or similar legend: 

	
  

 	
  

 
	
  

 	
  “NEITHER THE ISSUANCE AND SALE OF THE
 SECURITIES REPRESENTED BY THIS DOCUMENT NOR THE SECURITIES INTO WHICH THESE
 SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF
 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
 BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A)
 AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
 ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE
 SELECTED BY THE HOLDER AND REASONABLY APPROVED BY THE COMPANY), IN A
 GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT
 OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. 

 

	
  

 	
  

 
	
  

 	
 NOTWITHSTANDING THE FOREGOING, THE
 SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR
 OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.” 

 

                              (i)
Communication of Offer. Subscriber has a preexisting personal or
business relationship with the Company or one or more of its directors,
officers or control persons, and the offer to sell the Shares was directly
communicated to Subscriber by the Company. At no time was Subscriber presented
with or solicited by any leaflet, newspaper or magazine article, radio or
television advertisement, or any other form of general advertising or solicited
or invited to attend a promotional meeting otherwise than in connection and
concurrently with such communicated offer; 

                              (i)
No Governmental Endorsement. Subscriber understands that no United
States federal or state agency or any other governmental or state agency has
passed on or made recommendations or endorsement of the Shares or the
suitability of the investment in the Shares, nor have such authorities passed
upon or endorsed the merits of the offering of the Shares; 

                              (j)
Receipt of Information. Subscriber believes it has received all the
information it considers necessary or appropriate for deciding whether to
purchase the Shares. Subscriber further represents that through its
representatives it has had an opportunity to ask questions and receive answers
from the Company regarding the terms and conditions of the offering of the
Shares and the business, properties and financial condition of the Company and
to obtain additional information (to the extent the Company possessed such
information or could acquire it without unreasonable effort or expense)
necessary to verify the accuracy of any information furnished to it or to which
it had access; and 

                              (k)
No Market Manipulation. Subscriber and Subscriber’s affiliates have not
taken, and will not take, directly or indirectly, any action designed to, or
that might reasonably be expected to, cause or result in stabilization or
manipulation of the price of the Common Stock, to facilitate the sale or resale
of the Shares or affect the price at which the Shares may be issued or resold. 

                    3.
Company Representations and Warranties. The Company represents and
warrants to, and agrees with, Subscriber that: 

                              (a)
Due Incorporation. The Company is a corporation duly incorporated,
validly existing and in good standing under the laws of the jurisdiction of its
incorporation; 

                              (b)
Authority; Enforceability. This Agreement has been duly authorized,
executed and delivered by the Company and is the valid and binding agreement of
the Company, enforceable in accordance with their terms, except as may be
limited by bankruptcy, insolvency, moratorium or other similar laws affecting
the enforcement of creditors’ rights generally, or principles of equity. The
Company has full corporate power and authority necessary to enter into and
deliver this Agreement and to perform its obligations thereunder; 

                              (c)
Capitalization and Additional Issuances. The Company has authorized
thirty million (30,000,000) shares of the Common Stock. As of the date hereof,
there are [●] shares of the Common Stock issued and outstanding and [●]
shares of the Common Stock, which may be issued hereafter in respect of stock
options, warrants, convertible securities, or other Company Securities (as
defined below) issued or outstanding as of the date hereof. All of the
outstanding shares of the Common Stock are, and the Shares to be issued
pursuant to the Warrant will be, duly authorized and validly issued, fully paid
and non-assessable and are not (and will not be) subject to preemptive or similar
rights affecting the Common Stock. As of the date hereof, except as described
on Schedule 3(c) hereto, there are no (i) contracts to which the Company is a
party obligating the Company to accelerate the vesting of any company equity
award as a result of the transactions contemplated by this Agreement (whether
alone or upon the occurrence of any additional or subsequent events), (ii)
outstanding securities of the Company convertible into or exchangeable for
shares of the Common Stock, (iii) outstanding options, warrants or other
agreements or commitments to acquire from the Company, or obligations of the
Company to issue, shares of capital stock of (or securities convertible into or
exchangeable for shares of capital stock of) the Company or (iv) restricted
shares, restricted stock units, stock appreciation rights, performance shares,
profit participation rights, contingent value rights, “phantom” stock or
similar securities or rights that are derivative of, or provide economic
benefits based, directly or indirectly, on the value or price of, any shares of
capital stock of the Company, in each case that have been issued by the Company
(the items in clauses (i), (ii) and (iii), together with the capital stock of
the Company, being referred to collectively as “Company Securities”). There are
no outstanding contracts requiring the Company to repurchase, redeem or
otherwise acquire any Company Securities and the Company is not a party to any
voting agreement with respect to any Company Securities;  

                              (d)
SEC Filings; Financial Statements; Absence of Undisclosed Liabilities. 

                                        (i)
SEC Filings. The Company has filed with the SEC all registration statements,
prospectuses, reports, schedules, forms, statements and other documents
(including exhibits and all other information incorporated by reference)
required to be filed or furnished by it with the SEC since January 1, 2007 (the
“Company SEC Documents”) and such Company SEC Documents when filed were true,
correct and complete in all material respects. As of their respective filing
dates (or, if amended or superseded by a subsequent filing, as of the date of
the last such amendment or superseding filing prior to the date hereof), each
of the Company SEC Documents complied in all material respects with the
applicable requirements of the Sarbanes-Oxley Act of 2002 (including the rules
and regulations promulgated thereunder) and the Exchange Act, and the rules and
regulations of the SEC thereunder applicable to such Company SEC Documents and
did not, at the time it was filed (or, if amended, at the time (and taking into
account the content) of such amendment), contain any untrue statement of a
material fact or omit to state a material fact required to be stated therein or
necessary in order to make the statements made therein, in light of the
circumstances under which they were made, not misleading. The Company has made
available to Subscriber correct and complete copies of all correspondence
between the SEC, on the one hand, and the Company and any of its subsidiaries,
on the other hand, occurring since January 1, 2008 and prior to the date
hereof. As of the date hereof, there are no outstanding or unresolved comments
in comment letters from the SEC staff with respect to any of the Company SEC
Documents. As of the date hereof, none of the Company SEC Documents is the
subject of ongoing SEC review, outstanding SEC comment or outstanding SEC
investigation;  

                                        (ii)
Financial Statements. Each of the consolidated financial statements
(including, in each case, any related notes thereto) contained in the Company
SEC Documents: (i) complied as to form in all material respects with the
published rules and regulations of the SEC with respect thereto as of their
respective dates; (ii) was prepared in accordance with United States generally
accepted accounting principles (“GAAP”) applied on a consistent basis
throughout the periods involved (except as may be indicated in the notes thereto
and, in the case of unaudited interim financial statements, as may be permitted
by the SEC for Quarterly Reports on Form 10-Q); and (iii) fairly presented in
all material respects the consolidated financial position of the Company at the
respective dates thereof and the consolidated results of the Company’s
operations and cash flows for the periods indicated therein, subject, in the
case of unaudited interim financial statements, to normal and year-end audit
adjustments as permitted by GAAP and the applicable rules and regulations of
the SEC. As of the date hereof, Withum Smith & Brown, PC has not resigned
or been dismissed as independent public accountants of the Company as a result
of or in connection with any disagreements with the Company on a matter of
accounting principles or practices, financial statement disclosure or auditing
scope or procedure; 

                                        (iii)
No Undisclosed Liabilities. Neither the Company nor any of its subsidiaries has
any liability, indebtedness or obligation of any kind (whether accrued, 

absolute, contingent, matured, unmatured or otherwise, and whether or
not required to be recorded or reflected on a balance sheet under GAAP)
(“Liability”) except for Liabilities that (a) are reflected or recorded on the
Company’s most recent balance sheet included in the Company SEC Documents
(including in the notes thereto but only to the extent it is reasonably
apparent that the disclosure in such notes is of a Liability required to be
reflected on a balance sheet prepared in accordance with GAAP) contained in the
Company SEC Documents or (b) are current Liabilities (within the meaning of
GAAP) which were incurred since the date of such balance sheet in the ordinary
course of business consistent with past practice;  

                              (e)
Related Party Transactions. All contracts, transactions, arrangements
and understandings with any executive officer or director of the Company or any
of its subsidiaries, any other person that directly or indirectly controls, is
controlled by or is under common control with ( “Affiliate”), the Company, or
any person owning 5% or more of the shares of the Common Stock (or any of such
person’s immediate family members or Affiliates or associates), which is required
to be disclosed under Item 404 of Regulation S-K promulgated under the
Securities Act, have been fully and properly disclosed in the appropriate
Company SEC Documents. There are no such contracts, transactions, arrangements
or understandings which have not been so disclosed;  

                              (f)
Consents. No consent, approval, authorization or order of any court,
governmental agency or body having jurisdiction over the Company or of any
other person is required for the execution by the Company of this Agreement and
compliance and performance by the Company of its obligations hereunder,
including, without limitation, the issuance of Shares and Warrant and sale of
the Shares; 

                              (g)
No Violation or Conflict. Neither the issuance of the Warrant nor the
issuance and sale of the Shares nor the performance of the Company’s
obligations under this Agreement will: 

                                        (i)
violate, conflict with, result in a breach of, or constitute a default (or an
event which with the giving of notice or the lapse of time or both would be
reasonably likely to constitute a default) under (a) the charter or bylaws of
the Company or (b) any decree, judgment, order or determination applicable to
the Company of any court, governmental agency or body having jurisdiction over
the Company or over the properties or assets of the Company or (c) any
contract, agreement, instrument or undertaking to which the Company or any
subsidiary is a party; or 

                                        (ii)
result in the creation or imposition of any lien, charge or encumbrance upon
the Shares or Warrant except in favor of Subscriber as described herein; 

                              (h)
The Shares. Upon issuance, the Shares: 

                                        (i)
shall be free and clear of any security interests, liens, claims or other
Encumbrances, subject only to restrictions upon transfer under the Securities
Act and any applicable state securities laws; 

                                        (ii)
shall have been duly and validly issued, fully paid and non-assessable; and 

                                        (iii)
will not subject the holders thereof to personal liability by reason of being
such holders; 

                              (i)
Litigation. There is no pending or, to the knowledge of the Company,
threatened action, suit, proceeding or investigation before or by any court,
governmental agency or body having jurisdiction over the Company including,
without limitation, any such that would affect the execution by the Company or
the complete and timely performance by the Company of its obligations under
this Agreement. The Company has not, since January 1, 2007, been a party to any
material litigation, arbitration or other proceeding; 

                              (j)
No General Solicitation. Neither the Company, nor any of its affiliates,
nor any person or entity acting on its or their behalf, has engaged in any form
of general solicitation or general advertising (within the meaning of
Regulation D under the Securities Act) in connection with the offer or sale of
the Shares; 

                              (k)
Investment Company. The Company is not an “investment company” within
the meaning of the Investment Company Act of 1940, as amended; 

                              (l)
Listing and Maintenance Requirements. The Company is, and has no reason
to believe that it will not in the foreseeable future continue to be, in
compliance with the listing and maintenance requirements for continued listing
or quotation of the Company Common Stock on the trading market on which the
Company Common Stock is currently listed or quoted. The issuance and sale of
the Shares under this Agreement does not 

contravene the rules and regulations of the trading market on which the
Company Common Stock is currently listed or quoted, and no approval of the
stockholders of the Company is required for the Company to issue and deliver to
the Subscribers the Shares contemplated by this Agreement; and 

                              (m)
Full Disclosure. No representation or warranty or other statement made
by the Company in this Agreement in connection with the contemplated
transactions contains any untrue statement of material fact or omits to state a
material fact necessary to make the representations and warranties set forth
herein, in light of the circumstances in which they were made, not misleading. 

                    4. Adjustments
for Stock Splits. In the event and to the extent that the Company
consummates a reverse stock split or forward stock split prior to the closing
of this transaction, the number of issuable Shares purchased under this
agreement, Shares issuable pursuant to the Warrant and the Share Price shall be
proportionately and equitably adjusted. Accordingly, if for example, the
Company consummates a 1:5 reverse split of its outstanding Common Stock, the
aggregate number of Shares issuable to Subscriber hereto and the number of
Shares to available for purchase pursuant to the Warrant shall be divided by
five and the Share Price shall be multiplied by five. 

                    5.
Broker’s Commission/Finder’s Fee. Each party hereto represents to the
other that there are no parties entitled to receive fees, commissions, finder’s
fees, due diligence fees or similar payments in connection with the
consummation of the transactions contemplated hereby. Each party hereto agrees
to indemnify the other against and hold the other harmless from any and all
liabilities to any persons claiming brokerage commissions or similar fees on
account of services purported to have been rendered on behalf of the
indemnifying party in connection with this Agreement or the transactions
contemplated hereby and arising out of the indemnifying party’s actions. 

                    6.
Covenants Regarding Indemnification. Each party hereto agrees to
indemnify, hold harmless, reimburse and defend the other party and the other
party’s officers, directors, agents, counsel, affiliates, members, managers,
control persons, and principal shareholders, as applicable, against any claim,
cost, expense, liability, obligation, loss or damage (including reasonable
legal fees) of any nature, incurred by or imposed upon the indemnified party or
any such person which results, arises out of or is based upon (i) any breach of
any representation or warranty by the indemnifying party in this Agreement or
(ii) any breach or default in performance by the indemnifying party of any
covenant or undertaking to be performed by the indemnifying party. 

                    7.
Rule 144. Pursuant to Rule 144 and subject to Section 8, each Subscriber
acknowledges that before a Subscriber may sell any restricted securities in the
marketplace, such Subscriber must hold them for at least six months. The
holding period begins when the securities were purchased and fully paid for by
such subscriber. 

                    8.
Reporting Status. Until the date on which the Investors shall have sold
all of the Registrable Securities (as defined below), the Company shall use its
reasonable best efforts to timely file all reports required to be filed with
the SEC pursuant to the Exchange Act, and the Company shall not terminate its
status as an issuer required to file reports under the Exchange Act. 

                    9.
Reservation of Shares. So long as any Warrants remain outstanding, the
Company shall take reasonable best efforts to at all times have authorized, and
reserved for the purpose of issuance, no less than 100% of the maximum number
of shares of Common Stock issuable upon exercise of all the Warrants as of the
date hereof (without regard to any limitations on the exercise of the Warrants
set forth therein), less the number of Warrant Shares represented by any such
Warrants that have been exercised. 

                    10.
Miscellaneous. 

                              (a)
Notices. All notices, demands, requests, consents, approvals, and
other communications required or permitted hereunder shall be in writing and,
unless otherwise specified herein, shall be (i) personally served, (ii)
deposited in the mail, registered or certified, return receipt requested,
postage prepaid, (iii) delivered by reputable air courier service with charges
prepaid, or (iv) transmitted by hand delivery or facsimile, addressed as set
forth on the signature pages hereto or to such other address as such party
shall have specified most recently by written notice. Any notice or other
communication required or permitted to be given hereunder shall be deemed
effective (a) upon hand delivery or delivery by facsimile, with accurate
confirmation generated by the transmitting facsimile machine, at the address or
number designated on the signature page hereto (if delivered on a business day
during normal business hours where such notice is to be received), or the first
business day following such delivery (if delivered other than on a business day
during normal business hours where such notice is to be received) or (b) on the
second business day following the date of mailing by express courier service,
fully prepaid, addressed to such address, or upon actual receipt of such
mailing, whichever shall first occur. 

                              (b)
Entire Agreement; Assignment. This Agreement constitutes the entire
agreement between the parties hereto with respect to the subject matter hereof
and may be amended only by a writing executed by both parties hereto. Neither
the Company nor 

Subscriber has relied on any representations not contained or referred
to in this Agreement and the documents delivered herewith. 

                              (c)
Counterparts/Execution. This Agreement may be executed in any number of
counterparts and by the different signatories hereto on separate counterparts,
each of which, when so executed, shall be deemed an original, but all such
counterparts shall constitute but one and the same instrument. This Agreement
may be executed by facsimile transmission, PDF, electronic signature or other
similar electronic means with the same force and effect as if such signature
page were an original thereof. 

                              (d)
Law Governing this Agreement. This Agreement shall be governed by and
construed in accordance with the laws of the State of New Jersey without regard
to principles of conflicts of laws. Any action brought by either party hereto
against the other concerning the transactions contemplated by this Agreement
shall be brought only in the state courts of New Jersey or in the federal
courts located in the state of New Jersey. The parties to this Agreement hereby
irrevocably waive any objection to jurisdiction and venue of any action
instituted hereunder and shall not assert any defense based on lack of
jurisdiction or venue or based upon forum non conveniens. The parties hereto
agree to submit to the in personam jurisdiction of such courts and hereby
irrevocably waive trial by jury. The prevailing party shall be entitled to
recover from the other party its reasonable attorney’s fees and costs.  

                              (e)
Severability. In the event that any provision of this Agreement or any
other agreement delivered in connection herewith is invalid or unenforceable
under any applicable statute or rule of law, then such provision shall be
deemed inoperative to the extent that it may conflict therewith and shall be
deemed modified to conform with such statute or rule of law. Any such provision
which may prove invalid or unenforceable under any law shall not affect the
validity or enforceability of any other provision of any agreement. Each party
hereto hereby irrevocably waives personal service of process and consents to
process being served in any suit, action or proceeding in connection with this
Agreement by mailing a copy thereof via registered or certified mail or
overnight delivery (with evidence of delivery) to such party at the address in
effect for notices to it under this Agreement and agrees that such service
shall constitute good and sufficient service of process and notice thereof.
Nothing contained herein shall be deemed to limit in any way any right to serve
process in any other manner permitted by law. 

                              (f)
Captions. The captions of the various sections and paragraphs of this
Agreement have been inserted only for the purposes of convenience; such captions
are not a part of this Agreement and shall not be deemed in any manner to
modify, explain, enlarge or restrict any of the provisions of this Agreement.

SIGNATURE PAGE TO SUBSCRIPTION AGREEMENT

          Please
acknowledge your acceptance of the foregoing Subscription Agreement by signing
and returning a copy to the undersigned whereupon it shall become a binding
agreement between us.

	
  

 	
  

 	
  

 
	
  

 	
 CONOLOG CORPORATION

 
	
  

 	
  

 
	
  

 	
 a Delaware
 corporation

 
	
  

 	
  

 
	
  

 	
 By:

 
	
  

 	

 

 
	
  

 	
 Name: Marc
 Benou

 
	
  

 	
  

 
	
  

 	
 Title:
 President

 
	
  

 	
  

 
	
  

 	
 Address:

 	
 5 Columbia
 Road

 
	
  

 	
  

 	
 Somerville,
 New Jersey

 
	
  

 	
  

 	
 08876

 
	
  

 	
  

 
	
  

 	
 Facsimile
 No.:

 
	
  

 	

 

 
	
  

 	
  

 
	
  

 	
 Dated:
 _____________, 2012

 

	
  

 
	
 SUBSCRIBER

 
	

 

 
	
 Name of
 Subscriber: 

 
	

  

 
	

 

 
	
 Address:

 
	

  

 
	

 

 
	

  

 
	

 

 

	
  

 	
  

 
	
 Fax No.: 

 	
  

 
	
  

 	

 

 

	
  

 	
  

 
	
 Taxpayer ID#
 (if applicable): 

 	 
	
  

 	

 

 
	
  

 	 
	

 

 	

 

 

	
  

 	
  

 
	
 (Signature)

 
	
  

 	 
	
 By: 

 	 
	

  

 	

 

 
	
  

 	 
	
 Dated:
 _____________, 2012

 

	
  

 	
  

 
	
 Number of
 Shares: 

 	 
	

  

 	

 

 
	
  

 	 

	
  

 	
  

 
	
 Number of
 Warrant Shares 

 	 
	

  

 	

 

 
	
  

 	 
	
 Aggregate
 Purchase Price: 

 	 
	

  

 	

 

 
	
  

 	 
	
      (No. Shares x purchase price per Share)

 	 

 [Signature Page to Conolog Corporation
Subscription Agreement]

Schedule 3(c)

	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Number of
 Warrants

 	
  

 	
 Strike Price

 	
  

 	
 Expiration
 date

 	
  

 
	
  

 	
  

 	

 

 	

 

 	

 

 	

 

 	

 

 	

 

 
	
 Outstanding
 Warrants as of 8/23/2011:

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 11/2/07
 Warrants

 	
  

 	
  

 	
 33,355

 	
  

 	
 $

 	
 33.20

 	
  

 	
  

 	
 11/2/12

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Selling
 Agent Warrants

 	
  

 	
  

 	
 256,410

 	
  

 	
 $

 	
 0.10

 	
  

 	
  

 	
 2/26/15

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Class C
 Warrants

 	
  

 	
  

 	
 2,564,104

 	
  

 	
 $

 	
 0.10

 	
  

 	
  

 	
 2/26/15

 	
  

 
	
  

 	
  

 	

 

 	

 

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Total
 Outstanding as of 4/15/2012

 	
  

 	
  

 	
 2,853,869

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Issued

 	
  

 	
  

 	
 —

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Cancelled:

 	
  

 	
  

 	
 —

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 1/19/06 Warrants

 	
  

 	
  

 	
 (417

 	
 )

 	
 $

 	
 25.00

 	
  

 	
  

 	
 1/19/11

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Exercised:

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Class C Warrants

 	
  

 	
  

 	
 (1,955,782

 	
 )

 	
 $

 	
 0.10

 	
  

 	
  

 	
 2/26/15

 	
  

 
	
  

 	
  

 	

 

 	

 

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Outstanding
 Balance as of April 15, 2012

 	
  

 	
  

 	
 897,670Exhibit 10.2

NEITHER THE ISSUANCE AND SALE OF THE
SECURITIES REPRESENTED BY THIS DOCUMENT NOR THE SECURITIES INTO WHICH THESE
SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT
BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF (A) AN
EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF
1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED
BY THE HOLDER AND REASONABLY APPROVED BY THE COMPANY), IN A GENERALLY
ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II)
UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING
THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE
MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

CONOLOG
CORPORATION

COMMON
STOCK PURCHASE WARRANT

	
  

 	
  

 
	
 Number of
 shares:

 	
 Holder: 

 
	
  

 	
  

 
	
 Exercise
 Price per Share: $0.01

 	
 Warrant No. 

 

Issuance Date:
[●], 2012

Exercise Date:
No earlier than January 1, 2013

Expiration
Date: December 31, 2014

FOR
VALUE RECEIVED, Conolog Corporation, a corporation
incorporated under the laws of the State of Delaware (the “Company”),
hereby certifies that [●], or his registered assigns (the “Warrant
Holder”), is entitled, subject to the terms set forth below, to purchase
from the Company [●] (●) shares (the “Warrant Shares”) of
common stock, $0.01 par value (the “Common Stock”), of the Company at an
exercise price of Zero and 01/100 United States Dollars (US$0.01) per share (as
adjusted from time to time as provided herein) (the “Exercise Price”),
at any time and from time to time from and after January 1, 2012 (the “Exercise
Date”) and through and including 5:00 p.m. New York City time on December 31,
2014 (the “Expiration Date”), provided, however, that in no event shall
the Warrant Holder be entitled to exercise this Warrant for a number of Warrant
Shares in excess of that number of Warrant Shares which, upon giving effect to
such exercise, would cause the aggregate number of shares of Common Stock
beneficially owned by the Warrant Holder and its affiliates to exceed 4.99% of
the outstanding 

1

shares of the Common Stock following such exercise. The restriction
described in this paragraph may be waived, in whole or in part, upon
sixty-one (61) days’ prior notice from the Warrant Holder to the Company to
increase such percentage.

For purposes of the foregoing proviso, the aggregate number of shares
of Common Stock beneficially owned by the Holder and its affiliates shall
include the number of shares of Common Stock issuable upon exercise of this
Warrant with respect to which the determination of such proviso is being made,
but shall exclude shares of Common Stock which would be issuable upon
(i) exercise of the remaining, unexercised Warrants beneficially owned by
the Holder and its affiliates and (ii) exercise or conversion of the
unexercised or unconverted portion of any other securities of the Company beneficially
owned by the Holder and its affiliates (including, without limitation, any
convertible notes or preferred stock) subject to a limitation on conversion or
exercise analogous to the limitation contained herein. Except as set forth in
the preceding sentence, for purposes of this paragraph, beneficial ownership
shall be calculated in accordance with Section 13(d) of the Securities Exchange
Act of 1934, as amended. For purposes of this Warrant, in determining the
number of outstanding shares of Common Stock a holder may rely on the number of
outstanding shares of Common Stock as reflected in (1) the Company’s most
recent Form 10-Q or Form 10-K, as the case may be, (2) a more recent public
announcement by the Company or (3) any other notice by the Company or its
transfer agent setting forth the number of shares of Common Stock outstanding.
Upon the written request of any holder, the Company shall promptly, but in no
event later than one (1) Business Day following the receipt of such notice,
confirm in writing to any such holder the number of shares of Common Stock then
outstanding. In any case, the number of outstanding shares of Common Stock
shall be determined after giving effect to the exercise of Warrants (as defined
below) by such holder and its affiliates since the date as of which such number
of outstanding shares of Common Stock was reported.

          Section 1. The
Warrant

                    (a)
The Warrant. This warrant is the common stock purchase warrant (the “Warrant”)
issued in accordance with the Subscription Agreement (the “Agreement”), dated
_____ __, 2012, entered into by the Company and the Warrant Holder.

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

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

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

                              (iii) “Common Stock” means (i) the Company’s common stock, par
value $.01 per share, and (ii) any capital stock into which such Common
Stock shall have been changed or any capital stock resulting from a
reclassification of such Common Stock.

2

                              (iv)
“Exercise Date” means January 1, 2013, the first day on which the
Warrant may be exercised by the Warrant Holder

                              
(v) “Expiration Date” means December 31, 2014 or, if such date does not
fall on a Business Day or on which trading does not take place on the Principal
Exchange or automated quotation system on which the Common Stock is traded (a “Holiday”),
the next date that is not a Holiday.

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

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

                              
(viii) “Principal Market” means the New York Stock Exchange, the Nasdaq
Stock Market, or whichever is at the time the principal trading exchange or
market for such security, or the OTC Markets for such security as reported by
Bloomberg or, if no bid or sale information is reported for such security by
Bloomberg, then the average of the bid prices of each of the market makers for
such security as reported in the OTC Pinks.

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

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

                              
(xi) “Warrant Exercise Price” shall be $0.01 or as subsequently adjusted
as provided in Section 8 hereof. 

                              
(xii) “Warrant Shares” means the shares of Common Stock issuable at any
time upon exercise of this Warrant. 

                    (c)
Other Definitional Provisions. 

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

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

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

          Section 2. Exercise
of Warrant. 

3

                    (a)
Cash Exercise. Subject to the terms and conditions hereof, this Warrant
may be exercised by the holder hereof then registered on the books of the
Company, pro rata as hereinafter provided, at any time on any Business Day on
or after the opening of business on such Business Day, commencing on the
Exercise Date, and prior to 11:59 P.M. Eastern Time on the Expiration Date by
delivery of a written notice, in the form of the subscription notice attached
as Exhibit A hereto (the “Exercise Notice”), of such holder’s election
to exercise this Warrant, which notice shall specify the number of Warrant
Shares to be purchased, payment to the Company of an amount equal to the
Warrant Exercise Price(s) applicable to the Warrant Shares being purchased,
multiplied by the number of Warrant Shares (at the applicable Warrant Exercise
Price) as to which this Warrant is being exercised (plus any applicable issue
or transfer taxes) (the “Aggregate Exercise Price”) in cash or wire
transfer of immediately available funds and the surrender of this Warrant (or
an indemnification undertaking with respect to this Warrant in the case of its
loss, theft or destruction) to a common carrier for overnight delivery to the
Company as soon as practicable following such date.

                    (b)
Cashless Exercise. If an Exercise Notice is delivered at a time when a
registration statement permitting the holder to resell the Warrant Shares is
not then effective or the prospectus forming a part thereof is not then
available to the holder for the resale of the Warrant Shares, then the holder
may notify the Company in an Exercise Notice of its election to utilize
cashless exercise, in which event the Company shall issue to the holder the
number of Warrant Shares determined as follows: 

                              X
= Y [(A-B)/A] 

                    where:

                              X
= the number of Warrant Shares to be issued to the holder. 

                              Y
= the number of Warrant Shares with respect to which this Warrant is being
exercised. 

                              A
= the average of the Closing Prices for the five Trading Days immediately prior
to (but not including) the exercise date. 

                              B
= the Exercise Price. 

For purposes of Rule 144 promulgated under the Securities Act, it is
intended, understood and acknowledged that the Warrant Shares issued in a
cashless exercise transaction shall be deemed to have been acquired by the
holder, and the holding period for the Warrant Shares shall be deemed to have
commenced, on the date this Warrant was originally issued. 

                    (c)
In the event of any exercise of the rights represented by this Warrant in
compliance with this Section 2, the Company shall on or before the fifth
(5)Business Day following the date of receipt of the Exercise Notice, the
Aggregate Exercise Price and this Warrant (or an indemnification undertaking
with respect to this Warrant in the case of its loss, theft or destruction) and
the receipt of the representations of the holder specified in Section 6 hereof,
if requested by the Company (the “Exercise Delivery Documents”), and if the
Common Stock is DTC eligible, credit such aggregate number of shares of Common Stock to
which the holder shall be entitled to the holder’s or its designee’s balance
account with The Depository Trust 

4

Company; provided, however, if the holder who submitted the Exercise
Notice requested physical delivery of any or all of the Warrant Shares, or, if
the Common Stock is not DTC eligible then the Company shall, on or before the
fifth (5th) Business Day following receipt of the Exercise Delivery
Documents, issue and surrender to a common carrier for overnight delivery to
the address specified in the Exercise Notice, a certificate, registered in the
name of the holder, for the number of shares of Common Stock to which the
holder shall be entitled pursuant to such request. Upon delivery of the
Exercise Notice and Aggregate Exercise Price referred to in clause (i) or (ii)
above the holder of this Warrant shall be deemed for all corporate purposes to
have become the holder of record of the Warrant Shares with respect to which
this Warrant has been exercised. 

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

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

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

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

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

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

                    (d)
The Company will not, by amendment of its Articles of Incorporation or through
any reorganization, transfer of assets, consolidation, merger, dissolution,
issue or sale of securities, or any other voluntary action, avoid or seek to
avoid the observance or performance of any of the terms to be observed or
performed by it hereunder, but will at all times in good faith assist in the
carrying out of all the provisions of this Warrant. This Warrant will be
binding upon 

5

any entity succeeding to the Company by merger, consolidation or acquisition
of all or substantially all of the Company’s assets.

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

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

          Section 6. Representations
of Holder. The holder of this Warrant, by the acceptance hereof, represents
that it is acquiring this Warrant and the Warrant Shares for its own account
for investment only and not with a view towards, or for resale in connection
with, the public sale or distribution of this Warrant or the Warrant Shares,
except pursuant to sales registered or exempted under the Securities Act. The
holder of this Warrant further represents, by acceptance hereof, that, as of
this date, such holder is an “accredited investor” as such term is defined in
Rule 501(a)(1) of Regulation D promulgated by the Securities and Exchange
Commission under the Securities Act (an “Accredited Investor”). Upon
exercise of this Warrant the holder shall, if requested by the Company, confirm
in writing, in a form satisfactory to the Company, that the Warrant Shares so
purchased are being acquired solely for the holder’s own account and not as a
nominee for any other party, for investment, and not with a view toward
distribution or resale and that such holder is an Accredited Investor. 

          Section 7. Ownership
and Transfer.

                    (a)
The Company shall maintain at its principal executive offices (or such other
office or agency of the Company as it may designate by notice to the holder
hereof), a register for this Warrant, in which the Company shall record the
name and address of the person in whose name this Warrant has been issued, as
well as the name and address of each transferee. The Company may treat the
person in whose name any Warrant is registered on the register as the owner and
holder thereof for all purposes, notwithstanding any notice to the contrary,
but in all events recognizing any transfers made in accordance with the terms
of this Warrant.

6

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

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

                    (b) Notices.

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

          Section 9. Lost,
Stolen, Mutilated or Destroyed Warrant. If this Warrant is lost, stolen,
mutilated or destroyed, the Company shall promptly, on receipt of an
indemnification undertaking (or, in the case of a mutilated Warrant, the
Warrant), issue a new Warrant of like denomination and tenor as this Warrant so
lost, stolen, mutilated or destroyed.

          Section 10. Notice.
Any notices, consents, waivers or other communications required or permitted to
be given under the terms of this Warrant must be in writing and will be deemed
to have been delivered: (i) upon receipt, when delivered personally;
(ii) upon receipt, when sent by facsimile (provided confirmation of
receipt is received by the sending party transmission is mechanically or
electronically generated and kept on file by the sending party); or
(iii) one Business Day after deposit with a nationally recognized
overnight delivery service, in each case properly addressed to the party to
receive the same. The addresses and facsimile numbers for such communications
shall be:

	
  

 	
  

 
	
 If to
 Holder:

 	
  

 
	
  

 	
  

 
	
  

 	
 Telephone: 

 
	
  

 	
 Facsimile: 

 
	
  

 	
  

 
	
 With Copy
 to:

 	
  

 

7

	
  

 	
  

 
	
 If to the
 Company, to:

 	
 Conolog Corporation 

 
	
  

 	
 5 Columbia
 Road 

 
	
  

 	
 Somerville,
 NJ 08876

 
	
  

 	
 Attention:
 Marc Benou

 
	
  

 	
 Tel:
 908-722-8081

 
	
  

 	
 Fax:(908)
 722-5461

 
	
  

 	
  

 
	
 If to the
 Company 

 	
 Conolog Corporation 

 
	
 Counsel, to:

 	
 Lucosky
 Brookman LLP

 
	
  

 	
 33 Wood
 Avenue South, 6th Floor

 
	
  

 	
 Iselin, NJ
 08830

 
	
  

 	
 Attention:
 Joseph Lucosky

 
	
  

 	
 Tel:
 732-395-4400

 
	
  

 	
 Fax:732-395-4401

 

Each party hereto shall provide five days’ prior written notice to the
other party of any change in address or facsimile number. Written confirmation
of receipt (A) given by the recipient of such notice, consent, facsimile,
waiver or other communication, or (B) provided by a nationally recognized
overnight delivery service shall be rebuttable evidence of personal service,
receipt by facsimile or receipt from a nationally recognized overnight delivery
service in accordance with clause (i), (ii) or (iii) of this Section 10,
respectively.

          Section 11.
Date. The Exercise Date of this Warrant is set forth on page 1 hereof.
This Warrant, in all events, shall be wholly void and of no effect after
the close of business on the Expiration Date.

          Section 12.
Amendment and Waiver. Except as otherwise provided herein, the
provisions of the Warrants may be amended and the Company may take any action
herein prohibited, or omit to perform any act herein required to be performed
by it, only if the Company has obtained the written consent of the holders of
the Warrants representing at least two-thirds of the Warrant Shares issuable
upon exercise of the Warrants then outstanding; provided that no such action
may increase the Warrant Exercise Price or decrease the number of shares or
class of stock obtainable upon exercise of any Warrant without the written
consent of the holder of such Warrant.

          Section 13.
Descriptive Headings; Governing Law. The descriptive headings of the
several sections and paragraphs of this Warrant are inserted for convenience
only and do not constitute a part of this Warrant. The corporate laws of the
State of Delaware shall govern all issues concerning the relative rights of the
Company and its stockholders. All other questions concerning the construction,
validity, enforcement and interpretation of this Agreement shall be governed by
the internal laws of the State of New Jersey, without giving effect to any
choice of law or conflict of law provision or rule (whether of the State of New
Jersey or any other jurisdictions) that would cause the application of the laws
of any jurisdictions other than the State of New Jersey. Each party hereby
irrevocably submits to the exclusive jurisdiction of the state and federal
courts sitting in Essex County and the United States District Court for the
District of New Jersey, for the adjudication of any dispute hereunder or in
connection herewith or therewith, or with any transaction contemplated hereby
or discussed herein, and hereby 

8

irrevocably waives, and agrees not to assert in any suit, action or
proceeding, any claim that it is not personally subject to the jurisdiction of
any such court, that such suit, action or proceeding is brought in an
inconvenient forum or that the venue of such suit, action or proceeding is
improper. Each party hereby irrevocably waives personal service of process and
consents to process being served in any such suit, action or proceeding by
mailing a copy thereof to such party at the address for such notices to it
under this Agreement and agrees that such service shall constitute good and
sufficient service of process and notice thereof. Nothing contained herein
shall be deemed to limit in any way any right to serve process in any manner
permitted by law. 

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

REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK

9

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

	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 CONOLOG CORPORATION

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By:

 	
  

 
	
  

 	
  

 	
  

 	

 

 
	
  

 	
  

 	
 Name:

 
	
  

 	
  

 	
 Title:

 
	
  

 	
  

 	
 Date:

 

10

EXHIBIT A TO WARRANT

FORM
OF ELECTION TO PURCHASE

(To be executed by the Warrant Holder to exercise the right to purchase
shares of Common Stock under the foregoing Warrant)

To: CONOLOG CORPORATION

The undersigned, pursuant to the provisions set forth in the attached
Warrant (No.____), hereby irrevocably elects to purchase (check applicable
box):

___ ________ shares of the Common Stock covered by such Warrant; or

The undersigned herewith makes payment of the full purchase price for
such shares at the price per share provided for in such Warrant, which is
$___________. Such payment takes the form of (check applicable box or boxes):

___ $__________ in lawful money of the United States

The undersigned requests that the certificates for such shares be
issued in the name of, and delivered to __________________________________ _______________,
whose address is _____________________________________________________ ___________________________________________.

[signature page follows]

The undersigned represents and warrants that all offers and sales by
the undersigned of the securities issuable upon exercise of the within 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.

	
  

 	
  

 	
  

 
	
  

 	
 Name of
 Warrant Holder:

 

	
  

 	
  

 	
  

 
	
  

 	
 (Print)

 	
  

 
	
  

 	
  

 	

 

 

	
  

 	
  

 	
  

 
	
  

 	
 (By:)

 	
  

 
	
  

 	
  

 	

 

 

	
  

 	
  

 	
  

 
	
  

 	
 (Name:)

 	
  

 
	
  

 	
  

 	

 

 

	
  

 	
  

 	
  

 
	
  

 	
 (Title:)

 	
  

 
	
  

 	
  

 	

 

 
	
  

 	
  

 	
  

 
	
  

 	
 Signatures must conform in all respects to the name of the Warrant
 Holder on the face of the Warrant.

 

2

EXHIBIT B TO WARRANT

FORM OF WARRANT POWER

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

	
  

 	
  

 	
  

 	
  

 	
  

 
	
 Dated:

 	
  

 	
  

 	
  

 	
  

 
	
  

 	

 

 	
  

 	
 

 	
 

 
	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 By:

 	
  

 
	
  

 	
  

 	
  

 	

 

 

	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Name:

 	
  

 
	
  

 	
  

 	
  

 	

 

 

	
  

 	
  

 	
  

 	
  

 
	
  

 	
  

 	
 Title:

 	
  

 
	
  

 	
  

 	
  

 	

 

 

3

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