Document:

Unassociated Document

    Exhibit
      10.38

    
 

    WAIVER
      AND AGREEMENT

    

    

    A. IQ
      Micro
      Inc., a Colorado corporation (“IQ Micro”), entered into (i) a Second Amended and
      Restated Investor Registration Rights Agreement (the “2006 Agreement”) with
      Cornell Capital Partners, L.P. (“Cornell”) dated March 29, 2006 and (ii) a
      Registration Rights Agreement dated February 15, 2007 (the “2007 Agreement”)
      (the 2006 Agreement and the 2007 Agreement are collectively referred to herein
      as the “Agreements”).

    

    B. Section
      2(a) of the 2006 Agreement requires IQ Micro to file a registration statement
      (the “2006 Registration Statement”) with the Securities and Exchange Commission
      (“SEC”) no later than 90 days after the date of the 2006 Agreement.

    

    C. IQ
      Micro
      and Cornell have entered into three waivers with respect to the 2006 Agreement
      and the 2006 Registration Statement (dated, respectively, June 26, 2006, October
      5, 2006, and January 8, 2007 and collectively referred to herein as the “2006
      Waivers”) pursuant to which the deadline for the filing of the 2006 Registration
      was extended to February 28, 2007.

    

    D. Section
      2(a) of the 2007 Agreement requires IQ Micro to file a registration statement
      (the “2007 Registration Statement”) with the SEC on or prior to the
      30th
      calendar
      day following the date that Cornell delivers written notice requesting IQ Micro
      to file the 2007 Registration Statement.

    

    E. IQ
      Micro
      and Cornell hereby agree that it is in all parties’ best interests (i) to hereby
      amend the 2006 Agreement and the 2007 Agreement so that all the Registrable
      Securities (as defined in the Agreements) shall hereafter be covered by the
      2007
      Agreement alone and so that the 2006 Agreement shall be terminated hereby as
      of
      the date hereof, (ii) to hereby agree and provide that all the securities that
      would have been included in the 2006 Registration Statement governed by the
      2006
      Agreement shall be included in one registration statement which shall be the
      2007 Registration Statement governed by the 2007 Agreement, (iii) to hereby
      amend the deadline for IQ Micro’s filing of the 2007 Registration Statement, and
      hereby amend the 2007 Agreement, so that IQ Micro shall file the 2007
      Registration Statement pursuant to the demand registration right provided for
      in
      the 2007 Agreement on or prior to the 45th
      calendar
      day following the date that Cornell delivers written notice requesting IQ Micro
      to file the 2007 Registration Statement.

    

    F. Cornell
      hereby (i) waives the requirement contained in Section 2(a) of the 2006
      Agreement, as modified by the 2006 Waivers, that IQ Micro file the 2006
      Registration Statement no later than February 28, 2007, (ii) authorizes, agrees
      and consents that IQ Micro will now be required to file the 2007 Registration
      Statement with the SEC on or before the 45th
      calendar
      day following the date that Cornell delivers written notice requesting IQ Micro
      to file the 2007 Registration Statement, (iii) covenants and agrees not to
      exercise any rights or privileges that would be or would have been available
      to
      it under the 2006 Agreement and/or the 2007 Agreement if the original 2006
      Registration Statement filing deadline had not been modified as contemplated
      herein; (iv) covenants and agrees that the effective date of the waiver of
      the
      deadline granted to IQ Micro in this document shall be the date of execution
      hereof as set forth below and (v) agrees hereby to all the other terms set
      forth
      herein.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    G. IQ
      Micro
      and Cornell hereby confirm that each party has no claims against the other
      party
      for default under the Agreements and that the parties hereby waive and release
      any and all default-related liquidated damages, penalty interest, late fees
      and
      other penalties of any kind in connection with the Agreements through and
      including the date hereof.

    

    H. All
      other
      rights and obligations of the parties contained in the 2007 Agreement shall
      remain in full force and effect in accordance with their terms.

    

    I. Each
      party hereby accepts, approves and covenants and agrees to be bound by the
      terms
      and conditions of this Waiver and Agreement. 

    

    J. IQ
      Micro
      and Cornell represent and warrant to each other that the officer who signs
      this
      Waiver and Agreement on their behalf is duly authorized and empowered to do
      so
      by all required action.

    

    

      
        	 	
                CORNELL
                  CAPITAL PARTNERS, L.P.

              
	 	
                By:
                  Yorkville Advisors, LLC

              
	 	
                Its:
                  General Partner

              
	 	 
	 	 
	 	
                By:      
                  /s/ Mark
                  Angelo                                        
                  

              
	 	
                Name:      
                  Mark
                  Angelo                                        
                  

              
	 	
                Title:        
                  Portfolio
                  Manager                                
                  

              
	 	 
	 	Date: May
                21,
                2007

      

    

     

    AGREED
      TO AND ACCEPTED:

     

    IQ
      MICRO INC.

    

    

    By:
      /s/
      Robert V.
      Rudman                                             

         
      Robert V. Rudman

         
      Chief Financial Officer

    

    Date:
      May
      21, 2007

    

    
      
         

      

      
        2[Form
      of
      Lock-Up]

     

    May
      16,
      2007

    

    CRT
      Capital Group LLC

    262
      Harbor Drive

    Stamford,
      Connecticut 06902

    Attn:
      Charles Severs

     

    Ladies
      and Gentlemen:

    

    The
      undersigned understands that CRT Capital Group LLC (the “Placement
      Agent”)
      proposes to enter into a Placement Agent Agreement (the “Placement
      Agent Agreement”)
      with
      Jingwei International Investments Limited (the “Company”)
      providing for a private placement offering (the “Offering”)
      by the
      Placement Agents, of Units consisting of (i) one (1) share of the Company’s
      common stock, par value $0.001 per share (the “Common
      Stock”),
      and
      (ii) three-tenths of one warrant to acquire one share of the Common Stock,
      subject to adjustment, at an exercise price of $6.00 per share.

    

    To
      induce
      the Placement Agent to enter into the Placement Agent Agreement and to continue
      their efforts in connection with the Offering, the undersigned hereby agrees
      that, without the prior written consent of the Placement Agent, it will not,
      during the period commencing on the date hereof and ending on the three hundred
      sixtieth (360th)
      day
      following the date on which the registration statement required by the
      Registration Rights Agreement (as defined in the Placement Agent Agreement)
      becomes effective (the “Lock-Up Period”), (1) offer, sell, contract to sell,
      pledge, sell any option or contract to purchase, purchase any option or contract
      to sell, grant any option, right or warrant to purchase or otherwise transfer
      or
      dispose of any share of Common Stock or any securities convertible into or
      exercisable or exchangeable for Common Stock or request or demand the filing
      of
      any registration statement with respect to any of the foregoing or (2) enter
      into any swap or any other agreement or any transaction that transfers, in
      whole
      or in part, directly or indirectly, the economic consequence of ownership of
      the
      Common Stock or any securities convertible into or exercisable or exchangeable
      for Common Stock, whether any such swap or transaction described in clause
      (1)
      or (2) above is to be settled by delivery of Common Stock or such other
      securities, in cash or otherwise. Notwithstanding the previous sentence, the
      undersigned may transfer an unlimited number of shares of such Common Stock
      for
      estate or tax planning purposes; provided, that prior to making any such
      transfer, the undersigned shall have delivered a written instrument to the
      Placement Agent in which the transferee agrees to be bound by the restrictions
      contained in this agreement with respect to the Common Stock being
      transferred.

     

    [SIGNATURE
      PAGE FOLLOWS]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	 	 	 
	 	Very truly yours,
	 
 	 
 	 
 
	 	  	 
	 	
              
                

              

              Name:

               

            
	 	Address:Exhibit
      4.2

     

    THESE
      SECURITIES AND ANY SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY HAVE
      NOT
      BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES
      COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER
      THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY,
      MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
      STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM,
      OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
      SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS
      EVIDENCED BY AN OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE
      SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.
      NOTWITHSTANDING THE FOREGOING, THESE SECURITIES MAY BE PLEDGED IN CONNECTION
      WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED
      BY THESE SECURITIES.

     

    Right
      to
      Purchase up to [        ] Shares of
      Common Stock of

     

    Neoview
      Holdings Inc. (subject to adjustment as provided herein)

     

    FORM
      OF COMMON STOCK PURCHASE WARRANT

    
      	
              No.
                [          ]

            	
              Issue
                Date: May ___, 2007

            

    

     

    Neoview
      Holdings Inc. (the “Company”), hereby certifies that, for value received,
      _______________, or its assigns (the “Holder”), is entitled, subject to the
      terms set forth below, to purchase from the Company (as defined herein) from
      and
      after the Issue Date and at any time or from time to time before 5:00 p.m.,
      New
      York time, through the close of business on the date that is four years from
      the
      Issue Date set forth above (the “Expiration Date”), up to
      [                  ]
      fully paid and nonassessable shares of Common Stock (as hereinafter defined),
      $0.001 par value per share, at the applicable Exercise Price per share (as
      defined below). The number and character of such shares of Common Stock and
      the
      applicable Exercise Price per share are subject to adjustment as provided
      herein.

     

    As
      used
      herein the following terms, unless the context otherwise requires, have the
      following respective meanings:

     

    (a) The
      term
“Company” shall include Neoview Holdings Inc. and any corporation which shall
      succeed, or assume the obligations of, Neoview Holdings Inc.
      hereunder.

     

    (b) The
      term
“Common Stock” includes (i) the Company’s Common Stock, par value $0.001 per
      share; and (ii) any other securities into which or for which any of the
      securities described in the preceding clause (i) may be converted or exchanged
      pursuant to a plan of recapitalization, reorganization, merger, sale of assets
      or otherwise.

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    

     

    (c) The
      “Exercise Price” applicable under this Warrant shall be $6.00 on the date of
      issuance.

     

    (d) The
“Fair
      Market Value” of a share of Common Stock as of a particular date (the
“Determination Date”) shall mean (a) if the Common Stock is then listed or
      quoted on a national trading market, the volume weighted average price of the
      Common Stock for the 20 trading days preceding such Determination Date, (b)
      if
      the Common Stock is not then listed or quoted on a national trading market
      and
      if prices for the Common Stock are then quoted on the OTC Bulletin Board, the
      volume weighted average price of the Common Stock for the 20 trading days
      preceding such Determination Date on the OTC Bulletin Board, (c) if the Common
      Stock is not then listed or quoted on the OTC Bulletin Board and if prices
      for
      the Common Stock are then reported in the “Pink Sheets” published by Pink
      Sheets, LLC (or a similar organization or agency succeeding to its functions
      of
      reporting prices), the average bid price per share of the Common Stock for
      the
      20 trading days preceding such Determination Date as so reported, or (d) in
      all
      other cases, the value of the Common Stock as determined in good faith by the
      Company’s Board of Directors.

     

    (e) The
      term
“Other Securities” refers to any stock (other than Common Stock) and other
      securities of the Company or any other person (corporate or otherwise) which
      the
      holder of the Warrant at any time shall be entitled to receive, or shall have
      received, on the exercise of the Warrant, in lieu of or in addition to Common
      Stock, or which at any time shall be issuable or shall have been issued in
      exchange for or in replacement of Common Stock or Other Securities pursuant
      to
      Section 3 or otherwise.

     

    1. Exercise
      of Warrant.

     

    1.1. Number
      of Shares Issuable upon Exercise.
      From
      and after the Issue Date through and including the Expiration Date, the Holder
      shall be entitled to receive, upon exercise of this Warrant in whole or in
      part,
      by delivery of an original or fax copy of an exercise notice in the form
      attached hereto as Exhibit A (the “Exercise Notice”), up to that number of
      shares of Common Stock of the Company referred to above, subject to adjustment
      pursuant to Section 4 and subject to the Company having sufficient authorized
      shares of Common Stock, provided,
      however,
      within
      5 Trading Days of the date said Exercise Notice is delivered to the Company,
      the
      Holder shall have surrendered this Warrant to the Company and the Company shall
      have received payment of the aggregate Exercise Price of the shares thereby
      purchased by wire transfer or cashier’s check drawn on a United States
      bank.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    

     

    1.2. Limitation
      on Exercise.
      The
      Company shall not effect any exercise of this Warrant, and a Holder shall not
      have the right to exercise any portion of this Warrant, pursuant to Section
      2.3
      or otherwise, to the extent that after giving effect to such issuance after
      exercise, such Holder (together with such Holder’s affiliates, and any other
      person or entity acting as a group together with such Holder or any of such
      Holder’s affiliates), as set forth on the applicable Exercise Notice, 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 such 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 sentence is being made, but shall
      exclude the number of shares of Common Stock which would be issuable upon (A)
      exercise of the remaining, nonexercised portion of this Warrant beneficially
      owned by such Holder or any of its affiliates and (B) exercise or conversion
      of
      the unexercised or nonconverted portion of any other securities of the Company
      (including, without limitation, any other Preferred Stock or Warrants) subject
      to a limitation on conversion or exercise analogous to the limitation contained
      herein beneficially owned by such Holder or any of its affiliates.  Except
      as set forth in the preceding sentence, for purposes of this Section 1.2,
      beneficial ownership shall be calculated in accordance with Section 13(d) of
      the
      Exchange Act and the rules and regulations promulgated thereunder, it being
      acknowledged by a Holder that the Company is not representing to such Holder
      that such calculation is in compliance with Section 13(d) of the Exchange Act
      and such Holder is solely responsible for any schedules required to be filed
      in
      accordance therewith. To the extent that the limitation contained in this
      Section 1.2 applies, the determination of whether this Warrant is exercisable
      (in relation to other securities owned by such Holder) and of which a portion
      of
      this Warrant is exercisable shall be in the sole discretion of a Holder, and
      the
      submission of an Exercise Notice shall be deemed to be each Holder’s
      determination of whether this Warrant is exercisable (in relation to other
      securities owned by such Holder) and of which portion of this Warrant is
      exercisable, in each case subject to such aggregate percentage limitation,
      and
      the Company shall have no obligation to verify or confirm the accuracy of such
      determination. In addition, a determination as to any group status as
      contemplated above shall be determined in accordance with Section 13(d) of
      the
      Exchange Act and the rules and regulations promulgated thereunder. For purposes
      of this Section 1.2, 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 (x) the Company’s most recent Form 10-Q or Form 10-K, as the case
      may be, (y) a more recent public announcement by the Company or (z) any other
      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
      a Holder, the Company shall within two Trading Days confirm orally and in
      writing to 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 conversion or exercise of
      securities of the Company, including this Warrant, by such 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 4.99%
      of the number of shares of the Common Stock outstanding immediately after giving
      effect to the issuance of shares of Common Stock issuable upon exercise of
      this
      Warrant. The provisions of this paragraph shall be implemented in a manner
      not
      otherwise than in strict conformity with the terms of this Section 1.2 to
      correct this paragraph (or any portion hereof) which may be defective or
      inconsistent with the intended Beneficial Ownership Limitation herein contained
      or to make changes or supplements necessary or desirable to properly give effect
      to such limitation. The limitations contained in this paragraph shall apply
      to a
      successor holder of this Warrant.

     

    2. Procedure
      for Exercise.

     

    2.1. Delivery
      of Stock Certificates, Etc., on Exercise.
      The
      Company agrees that the shares of Common Stock purchased upon exercise of this
      Warrant shall be deemed to be issued to the Holder as the record owner of such
      shares as of the close of business on the date on which this Warrant shall
      have
      been surrendered and payment made for such shares in accordance herewith. As
      soon as practicable after the exercise of this Warrant in full or in part,
      and
      in any event within five (5) business days thereafter, the Company at its
      expense (including the payment by it of any applicable issue taxes) will cause
      to be issued in the name of and delivered to the Holder, or as such Holder
      (upon
      payment by such Holder of any applicable transfer taxes) may direct in
      compliance with applicable securities laws, a certificate or certificates for
      the number of duly and validly issued, fully paid and nonassessable shares
      of
      Common Stock (or Other Securities) to which such Holder shall be entitled on
      such exercise, plus, in lieu of any fractional share to which such holder would
      otherwise be entitled, cash equal to such fraction multiplied by the then Fair
      Market Value of one full share, together with any other stock or other
      securities and property (including cash, where applicable) to which such Holder
      is entitled upon such exercise pursuant to Section 1 or
      otherwise.

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    

     

    2.2. Exercise.
      Payment
      may be made either in cash or by check payable to the order of the Company
      equal
      to the applicable aggregate Exercise Price for the number of Common Shares
      specified in such Exercise Notice (as such exercise number shall be adjusted
      to
      reflect any adjustment in the total number of shares of Common Stock issuable
      to
      the Holder per the terms of this Warrant) and the Holder shall thereupon be
      entitled to receive the number of duly authorized, validly issued, fully paid
      and nonassessable shares of Common Stock (or Other Securities) determined as
      provided herein.

     

    2.3. Cashless
      Exercise.
      

     

    (a) Notwithstanding
      anything contained herein to the contrary, the holder of this Warrant may,
      at
      its election exercised in its sole discretion, exercise this Warrant in whole
      or
      in part and, in lieu of making the cash payment otherwise contemplated to be
      made to the Company upon such exercise in payment of the aggregate Exercise
      Price, elect instead to receive upon such exercise the “Net Number” of shares of
      Common Stock determined according to the following formula (a “Cashless
      Exercise”):

     

    Net
      Number = (A x (B - C))/B

     

    (b)For
      purposes of the foregoing formula:

     

    A
      = the
      total number shares of Common Stock with respect to which this Warrant is then
      being exercised;

     

    B
      = the
      Fair Market Value of a share of Common Stock on the date immediately preceding
      the date of the Exercise Notice; and

     

    C
      = the
      Exercise Price then in effect at the time of such exercise.

     

    (c) The
      holder of this Warrant agrees not to elect for a period of six (6) months a
      Cashless Exercise. The holder of this Warrant also agrees not to elect a
      Cashless Exercise so long as there is an effective registration statement for
      the shares underlying this Warrant.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    

     

    3. Effect
      of Reorganization, Etc.; Adjustment of Exercise Price.

     

    3.1. Reorganization,
      Consolidation, Merger, Etc.
      In case
      at any time or from time to time, the Company shall (a) effect a reorganization,
      (b) consolidate with or merge into any other person, or (c) transfer all or
      substantially all of its properties or assets to any other person under any
      plan
      or arrangement contemplating the dissolution of the Company, then, in each
      such
      case, as a condition to the consummation of such a transaction, proper and
      adequate provision shall be made by the Company whereby the Holder, on the
      exercise hereof as provided in Section 1 at any time after the consummation
      of
      such reorganization, consolidation or merger or the effective date of such
      dissolution, as the case may be, shall receive, in lieu of the Common Stock
      (or
      Other Securities) issuable on such exercise prior to such consummation or such
      effective date, the stock and other securities and property (including cash)
      to
      which such Holder would have been entitled upon such consummation or in
      connection with such dissolution, as the case may be, if such Holder had so
      exercised this Warrant, immediately prior thereto, all subject to further
      adjustment thereafter as provided in Section 4.

     

    3.2. Continuation
      of Terms.
      Upon
      any reorganization, consolidation, merger or transfer (and any dissolution
      following any transfer) referred to in this Section 3, this Warrant shall
      continue in full force and effect and the terms hereof shall be applicable
      to
      the shares of stock and other securities and property receivable on the exercise
      of this Warrant after the consummation of such reorganization, consolidation
      or
      merger or the effective date of dissolution following any such transfer, as
      the
      case may be, and shall be binding upon the issuer of any such stock or other
      securities, including, in the case of any such transfer, the person acquiring
      all or substantially all of the properties or assets of the Company, whether
      or
      not such person shall have expressly assumed the terms of this Warrant as
      provided in Section 3.1. In the event this Warrant does not continue in full
      force and effect after the consummation of the transactions described in this
      Section 3, then the Company’s securities and property (including cash, where
      applicable) receivable by the Holder will be delivered to the
      Holder.

     

    4. Extraordinary
      Events Regarding Common Stock.
      In the
      event that the Company shall (a) issue additional shares of the Common Stock
      as
      a dividend or other distribution on outstanding Common Stock or any preferred
      stock issued by the Company (b) subdivide its outstanding shares of Common
      Stock, or (c) combine its outstanding shares of the Common Stock into a
      smaller number of shares of the Common Stock, then, in each such event, the
      Exercise Price shall, simultaneously with the happening of such event, be
      adjusted by multiplying the then Exercise Price by a fraction, the numerator
      of
      which shall be the number of shares of Common Stock outstanding immediately
      prior to such event and the denominator of which shall be the number of shares
      of Common Stock outstanding immediately after such event, and the product so
      obtained shall thereafter be the Exercise Price then in effect. The Exercise
      Price, as so adjusted, shall be readjusted in the same manner upon the happening
      of any successive event or events described herein in this Section 4. The number
      of shares of Common Stock that the Holder shall thereafter, on the exercise
      hereof as provided in Section 1, be entitled to receive shall be adjusted to
      a
      number determined by multiplying the number of shares of Common Stock that
      would
      otherwise (but for the provisions of this Section 4) be issuable on such
      exercise by a fraction of which (a) the numerator is the Exercise Price that
      would otherwise (but for the provisions of this Section 4) be in effect, and
      (b)
      the denominator is the Exercise Price in effect on the date of such exercise
      (taking into account the provisions of this Section 4).

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    

     

    5. Subsequent
      Equity Sales.
      If the
      Company, at any time while this Warrant is outstanding, shall issue shares
      of
      Common Stock or Common Stock equivalents entitling any Person to acquire shares
      of Common Stock, at a price per share less than the then current Exercise Price
      (if the holder of the Common Stock or Common Stock equivalent so issued shall
      at
      any time, whether by operation of purchase price adjustments, reset provisions,
      floating conversion, exercise or exchange prices or otherwise, or due to
      warrants, options or rights issued in connection with such issuance, be entitled
      to receive shares of Common Stock at a price less than the Exercise Price,
      such
      issuance shall be deemed to have occurred for less than the Exercise Price),
      then, the Exercise
      Price
      shall be multiplied by a fraction, the numerator of which shall be the number
      of
      shares of Common Stock outstanding immediately prior to the issuance of such
      shares of Common Stock or such Common Stock Equivalents plus the number of
      shares of Common Stock which the offering price for such shares of Common Stock
      or Common Stock Equivalents would purchase at the Exercise Price, and the
      denominator of which shall be the sum of the number of shares of Common Stock
      outstanding immediately prior to such issuance plus the number of shares of
      Common Stock so issued or issuable. Such adjustment shall be made whenever
      such
      Common Stock or Common Stock equivalents are issued. The Company shall notify
      the Holder in writing, no later than the third Trading Day following the
      issuance of any Common Stock or Common Stock Equivalent subject to this section,
      indicating therein the applicable issuance price, or applicable reset price,
      exchange price, conversion price and other pricing terms.

    For
      purposes of this Section 5, the following subsections (i) to (v) shall also
      be
      applicable:

     

     

    (i) Issuance
      of Rights or Options.
      In case
      at any time the Company shall in any manner grant (directly and not by
      assumption in a merger or otherwise) any warrants or other rights to subscribe
      for or to purchase, or any options for the purchase of, Common Stock or any
      stock or security convertible into or exchangeable for Common Stock (such
      warrants, rights or options being called “Options”
      and such
      convertible or exchangeable stock or securities being called “Convertible
      Securities”) whether or not such Options or the right to convert or exchange any
      such Convertible Securities are immediately exercisable, and the price per
      share
      for which Common Stock is issuable upon the exercise of such Options or upon
      the
      conversion or exchange of such Convertible Securities (determined by dividing
      (i) the sum (which sum shall constitute the applicable consideration) of (x)
      the
      total amount, if any, received or receivable by the Company as consideration
      for
      the granting of such Options, plus (y) the aggregate amount of additional
      consideration payable to the Company upon the exercise of all such Options,
      plus
      (z), in the case of such Options which relate to Convertible Securities, the
      aggregate amount of additional consideration, if any, payable upon the issue
      or
      sale of such Convertible Securities and upon the conversion or exchange thereof,
      by (ii) the total maximum number of shares of Common Stock issuable upon the
      exercise of such Options or upon the conversion or exchange of all such
      Convertible Securities issuable upon the exercise of such Options) shall be
      less
      than the Exercise Price in effect immediately prior to the time of the granting
      of such Options, then the total number of shares of Common Stock issuable upon
      the exercise of such Options or upon conversion or exchange of the total amount
      of such Convertible Securities issuable upon the exercise of such Options shall
      be deemed to have been issued for such price per share as of the date of
      granting of such Options or the issuance of such Convertible Securities and
      thereafter shall be deemed to be outstanding for purposes of adjusting the
      Exercise Price. Except as otherwise provided below, no adjustment of the
      Exercise Price shall be made upon the actual issue of such Common Stock or
      of
      such Convertible Securities upon exercise of such Options or upon the actual
      issue of such Common Stock upon conversion or exchange of such Convertible
      Securities.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    

     

    (ii) Issuance
      of Convertible Securities.
      In case
      the Company shall in any manner issue (directly and not by assumption in a
      merger or otherwise) or sell any Convertible Securities, whether or not the
      rights to exchange or convert any such Convertible Securities are immediately
      exercisable, and the price per share for which Common Stock is issuable upon
      such conversion or exchange (determined by dividing (i) the sum (which sum
      shall
      constitute the applicable consideration) of (x) the total amount received or
      receivable by the Company as consideration for the issue or sale of such
      Convertible Securities, plus (y) the aggregate amount of additional
      consideration, if any, payable to the Company upon the conversion or exchange
      thereof, by (ii) the total number of shares of Common Stock issuable upon the
      conversion or exchange of all such Convertible Securities) shall be less than
      the Exercise Price in effect immediately prior to the time of such issue or
      sale, then the total maximum number of shares of Common Stock issuable upon
      conversion or exchange of all such Convertible Securities shall be deemed to
      have been issued for such price per share as of the date of the issue or sale
      of
      such Convertible Securities and thereafter shall be deemed to be outstanding
      for
      purposes of adjusting the Exercise Price, provided that (a) except as otherwise
      provided in subsection below, no adjustment of the Exercise Price shall be
      made
      upon the actual issuance of such Common Stock upon conversion or exchange of
      such Convertible Securities and (b) no further adjustment of the Exercise Price
      shall be made by reason of the issue or sale of Convertible Securities upon
      exercise of any Options to purchase any such Convertible Securities for which
      adjustments of the Exercise Price have been made pursuant to the other
      provisions of subsection 9(c).

     

    (iii) Change
      in Option Price or Conversion Rate.
      Upon
      the happening of any of the following events, namely, if the purchase price
      provided for in any Option referred to above, the additional consideration,
      if
      any, payable upon the conversion or exchange of any Convertible Securities
      referred to above, or the rate at which Convertible Securities referred to
      above
      are convertible into or exchangeable for Common Stock shall change at any time
      (including, but not limited to, changes under or by reason of provisions
      designed to protect against dilution), the Exercise Price in effect at the
      time
      of such event shall forthwith be readjusted to the Exercise Price which would
      have been in effect at such time had such Options or Convertible Securities
      still outstanding provided for such changed purchase price, additional
      consideration or conversion rate, as the case may be, at the time initially
      granted, issued or sold. On the termination of any Option for which any
      adjustment was made pursuant to this Section 5 or any right to convert or
      exchange Convertible Securities for which any adjustment was made pursuant
      to
      this Section 5 (including without limitation upon the redemption or purchase
      for
      consideration of such Convertible Securities by the Company), the Exercise
      Price
      then in effect hereunder shall forthwith be changed to the Exercise Price which
      would have been in effect at the time of such termination had such Option or
      Convertible Securities, to the extent outstanding immediately prior to such
      termination, never been issued.

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    

     

    (iv) Consideration
      for Stock.
      In case
      any shares of Common Stock, Options or Convertible Securities shall be issued
      or
      sold for cash, the consideration received therefor shall be deemed to be the
      net
      amount received by the Company therefor, after deduction therefrom of any
      expenses incurred or any underwriting commissions or concessions paid or allowed
      by the Company in connection therewith. In case any shares of Common Stock,
      Options or Convertible Securities shall be issued or sold for a consideration
      other than cash, the amount of the consideration other than cash received by
      the
      Company shall be deemed to be the fair value of such consideration as determined
      in good faith by the Board of Directors of the Company, after deduction of
      any
      expenses incurred or any underwriting commissions or concessions paid or allowed
      by the Company in connection therewith. In case any Options shall be issued
      in
      connection with the issue and sale of other securities of the Company, together
      comprising one integral transaction in which no specific consideration is
      allocated to such Options by the parties thereto, such Options shall be deemed
      to have been issued for such consideration as determined in good faith by the
      Board of Directors of the Company. If Common Stock, Options or Convertible
      Securities shall be issued or sold by the Company and, in connection therewith,
      other Options or Convertible Securities (the “Additional
      Rights”)
      are
      issued, then the consideration received or deemed to be received by the Company
      shall be reduced by the fair market value of the Additional Rights (as
      determined using a method mutually agreed to by the Company and the Holder).
      The
      Board of Directors of the Company shall respond promptly, in writing, to an
      inquiry by the Holders as to the fair market value of the Additional Rights.
      In
      the event that the Board of Directors of the Company and the Holders are unable
      to agree upon the fair market value of the Additional Rights, the Company and
      the Holders shall jointly select an appraiser, who is experienced in such
      matters. The decision of such appraiser shall be final and conclusive, and
      the
      cost of such appraiser shall be borne evenly by the Company and the
      Holder.

     

    (v) Record
      Date.
      In case
      the Company shall take a record of the holders of its Common Stock for the
      purpose of entitling them (i) to receive a dividend or other distribution
      payable in Common Stock, Options or Convertible Securities or (ii) to subscribe
      for or purchase Common Stock, Options or Convertible Securities, then such
      record date shall be deemed to be the date of the issue or sale of the shares
      of
      Common Stock deemed to have been issued or sold upon the declaration of such
      dividend or the making of such other distribution or the date of the granting
      of
      such right of subscription or purchase, as the case may be.

     

    Notwithstanding
      the foregoing, no adjustment will be made under this paragraph 5 in respect
      of:
      (1) the issuance of securities upon the exercise or conversion of any Common
      Stock equivalents issued by the Company prior to the Original Issue Date of
      this
      Warrant (but will apply to any amendments, modifications, and reissuances
      thereof and as a result of any changes, resets or adjustments to a conversion
      or
      exercise price thereunder whether or not as a result of any amendment,
      modification or reissuance), or (2) the grant of options or warrants, or the
      issuance of additional securities, under any duly authorized Company stock
      option, stock incentive plan, restricted stock plan or stock purchase or similar
      plan in existence on the Closing Date.

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    

     

    6. Pro
      Rata Distributions.
      If the
      Company, at any time prior to the Expiration Date, shall distribute to all
      holders of Common Stock (and not to Holders of the Warrants) evidences of its
      indebtedness or assets (including cash and cash dividends) or rights or warrants
      to subscribe for or purchase any security), then in each such case the Exercise
      Price shall be adjusted by multiplying the Exercise Price in effect immediately
      prior to the record date fixed for determination of stockholders entitled to
      receive such distribution by a fraction of which the denominator shall be the
      Fair Market Value determined as of the record date mentioned above, and of
      which
      the numerator shall be such Fair Market Value on such record date less the
      then
      per share Fair Market Value at such record date of the portion of such assets
      or
      evidence of indebtedness so distributed applicable to one outstanding share
      of
      the Common Stock as determined by the Board of Directors in good faith. In
      either case the adjustments shall be described in a statement provided to the
      Holder of the portion of assets or evidences of indebtedness so distributed
      or
      such subscription rights applicable to one share of Common Stock. Such
      adjustment shall be made whenever any such distribution is made and shall become
      effective immediately after the record date mentioned above.

     

    7. Certificate
      as to Adjustments.
      In each
      case of any adjustment or readjustment in the shares of Common Stock (or Other
      Securities) issuable on the exercise of this Warrant, the Company at its expense
      will promptly cause its Chief Financial Officer or other appropriate designee
      to
      compute such adjustment or readjustment in accordance with the terms of this
      Warrant and prepare a certificate setting forth such adjustment or readjustment
      and showing in detail the facts upon which such adjustment or readjustment
      is
      based, including a statement of (a) the consideration received or
      receivable by the Company for any additional shares of Common Stock (or Other
      Securities) issued or sold or deemed to have been issued or sold, (b) the
      number of shares of Common Stock (or Other Securities) outstanding or deemed
      to
      be outstanding, and (c) the Exercise Price and the number of shares of Common
      Stock to be received upon exercise of this Warrant, in effect immediately prior
      to such adjustment or readjustment and as adjusted or readjusted as provided
      in
      this Warrant. The Company will forthwith mail a copy of each such certificate
      to
      the Holder and any Warrant agent of the Company (appointed pursuant to Section
      11 hereof)..

     

    8. Registration
      Rights.
      The
      Holder of this Warrant or its transferee(s) shall have the registration rights
      set forth in Registration Rights Agreement entered into in connection with
      the
      private placement, the provisions of which are incorporated by reference herein
      in their entirety. 

     

    9. Redemption.

     

    (a) At
      any
      time after the date on which there is a currently effective registration
      statement registering the resale of the shares of Common Stock for which this
      Warrant is exercisable as contemplated by the Registration Rights Agreement
      dated as of the date hereof (unless the holder hereof shall have declined to
      participate in such registration statement or it shall be unavailable due to
      restrictions imposed by the Securities and Exchange Commission relating to
      its
      then-current position regarding Rule 415 promulgated pursuant to the Securities
      Act) and on not less than 20 days’ written notice (the “Redemption Notice”) to
      the registered holders of the Warrants (the “Registered Holders”), the Warrants
      may be redeemed, at the option of the Company, at a price of $0.01 per Warrant
      (the “Call Price”), provided (i) Fair Market Value shall exceed 200% of the
      Exercise Price for the 20 consecutive trading days ending on the fifth trading
      day prior to the date of the Redemption Notice (the “Trading Period”) and (ii)
      the Warrants are then exercisable.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    

     

    (b) If
      the
      conditions set forth in Section 9(a) are met, and the Company desires to
      exercise its right to redeem the Warrants, it shall mail a Redemption Notice
      to
      each of the Registered Holders, first class, postage prepaid, not later than
      the
      thirtieth day before the date fixed for redemption, at their last address as
      shall appear on the Company’s records. Any notice mailed in the manner provided
      herein shall be conclusively presumed to have been duly given whether or not
      the
      Registered Holder receives such notice.

     

    (c) The
      Redemption Notice shall specify (i) the Call Price, (ii) the date fixed for
      redemption (the “Redemption Date”), (iii) the place where the Warrant
      Certificates shall be delivered and the Call Price paid, and (iv) that the
      right
      to exercise the Warrant shall terminate at 5:00 P.M. (New York time) on the
      business day immediately preceding the Redemption Date. No failure to mail
      such
      notice nor any defect therein or in the mailing thereof shall affect the
      validity of the proceedings for such redemption except as to a Registered Holder
      (a) to whom notice was not mailed or (b) whose notice was defective. An
      affidavit of the Warrant Agent or of the Secretary or an Assistant Secretary
      of
      the Company that notice of redemption has been mailed shall, in the absence
      of
      fraud, be prima facie evidence of the facts stated therein.

     

    (d) Any
      right
      to exercise a Warrant shall terminate at 5:00 P.M. (New York time) on the
      business day immediately preceding the Redemption Date. On and after the
      Redemption Date, the Registered Holders shall have no further rights except
      to
      receive, upon surrender of the Warrant, the Call Price.

     

    (e) From
      and
      after the Redemption Date, the Company shall, at the place specified in the
      Redemption Notice, upon presentation and surrender to the Company by or on
      behalf of the Registered Holder thereof of one or more warrant certificates
      evidencing Warrants to be redeemed, deliver or cause to be delivered to or
      upon
      the written order of such Registered Holder a sum in cash equal to the Call
      Price of each such Warrant. From and after the Redemption Date and upon the
      deposit or setting aside by the Company of a sum sufficient to redeem all the
      Warrants called for redemption, such Warrants shall expire and become void
      and
      all rights hereunder and under the warrant certificates, except the right to
      receive payment of the Call Price, shall cease.

     

    10. Status
      of Stock Issuable on Exercise of Warrant.
      The
      Company covenants that all shares of Common Stock which may be issued upon
      the
      exercise of this Warrant will, upon exercise, be duly authorized, validly
      issued, fully paid and nonassessable and free from all taxes, liens and charges
      in respect of the issue thereof (other than taxes in respect of any transfer
      occurring contemporaneously with such issue).

    
      
         

      

      
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    11. Assignment;
      Exchange of Warrant.
      Subject
      to compliance with any applicable securities laws and the conditions set forth
      in any restrictive legend appearing on the face hereof, this Warrant and all
      rights hereunder are transferable, in whole or in part, upon surrender of this
      Warrant at the principal office of the Company, together with a written
      assignment of this Warrant substantially in the form attached hereto as Exhibit
      B duly executed by the Holder or its agent or attorney and funds sufficient
      to
      pay any transfer taxes payable upon the making of such transfer. Upon such
      surrender and, if required, such payment, the Company shall execute and deliver
      a new Warrant or Warrants in the name of the assignee or assignees and in the
      denomination or denominations specified in such instrument of assignment, and
      shall issue to the assignor a new Warrant evidencing the portion of this Warrant
      not so assigned, and this Warrant shall promptly be cancelled. A Warrant, if
      properly assigned, may be exercised by a new holder for the purchase of Warrant
      Shares without having a new Warrant issued.

     

    12. 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 any such loss,
      theft or destruction of this Warrant, on delivery of an indemnity agreement
      or
      security reasonably satisfactory in form and amount to the Company or, in the
      case of any such mutilation, on surrender and cancellation of this Warrant,
      the
      Company at its expense will execute and deliver, in lieu thereof, a new Warrant
      of like tenor.

     

    13. Warrant
      Agent.
      The
      Company may, by written notice to the each Holder of the Warrant, appoint an
      agent for the purpose of issuing Common Stock (or Other Securities) on the
      exercise of this Warrant pursuant to Section 1, and replacing this Warrant
      pursuant to Section 8, or any of the foregoing, and thereafter any such
      issuance, exchange or replacement, as the case may be, shall be made at such
      office by such agent.

     

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

     

    15. No
      Rights as Shareholder Until Exercise.
      This
      Warrant does not entitle the Holder to any voting rights or other rights as
      a
      shareholder of the Company prior to the exercise hereof.

     

    16. Saturdays,
      Sundays, Holidays, etc.
      If the
      last or appointed day for the taking of any action or the expiration of any
      right required or granted herein shall be a Saturday, Sunday or a legal holiday,
      then such action may be taken or such right may be exercised on the next
      succeeding day not a Saturday, Sunday or legal holiday.

     

    17. Notices,
      Etc.
      All
      notices and other communications from the Company to the Holder shall be mailed
      by first class registered or certified mail, postage prepaid, at such address
      as
      may have been furnished to the Company in writing by such Holder or, until
      any
      such Holder furnishes to the Company an address, then to, and at the address
      of,
      the last Holder who has so furnished an address to the Company.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    

     

    18. Miscellaneous.
      This
      Warrant and any term hereof may be changed, waived, discharged or terminated
      only by an instrument in writing signed by the party against which enforcement
      of such change, waiver, discharge or termination is sought. THIS WARRANT SHALL
      BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF STATE OF NEW YORK
      WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. ANY ACTION BROUGHT CONCERNING
      THE TRANSACTIONS CONTEMPLATED BY THIS WARRANT SHALL BE BROUGHT ONLY IN THE
      STATE
      COURTS OF NEW YORK OR IN THE FEDERAL COURTS LOCATED IN THE STATE OF NEW YORK;
      PROVIDED, HOWEVER, THAT THE HOLDER MAY CHOOSE TO WAIVE THIS PROVISION AND BRING
      AN ACTION OUTSIDE THE STATE OF NEW YORK. The individuals executing this Warrant
      on behalf of the Company agree to submit to the jurisdiction of such courts
      and
      waive trial by jury. The prevailing party shall be entitled to recover from
      the
      other party its reasonable attorneys’ fees and costs. In the event that any
      provision of this Warrant 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 this Warrant. The headings in this Warrant are for
      purposes of reference only, and shall not limit or otherwise affect any of
      the
      terms hereof. The invalidity or unenforceability of any provision hereof shall
      in no way affect the validity or enforceability of any other provision hereof.
      The Company acknowledges that legal counsel participated in the preparation
      of
      this Warrant and, therefore, stipulates that the rule of construction that
      ambiguities are to be resolved against the drafting party shall not be applied
      in the interpretation of this Warrant to favor any party against the other
      party.

     

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      OF PAGE INTENTIONALLY LEFT BLANK;

     

    SIGNATURE
      PAGE FOLLOWS]

    
      
         

      

      
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    IN
      WITNESS WHEREOF, the Company has executed this Warrant as of the date first
      written above.

     

    

    
      	 	 	
              NEOVIEW
                HOLDINGS INC.

            
	 	 	 	 
	
              WITNESS:

            	 	 	 
	 	 	
              By: 

            	  
	 	 	
              Name: 

            	  
	 
	 	
              Title: 

            	 
              

    

     

    
 

    
      
         

      

      
        13

        
          

        

      

      
         

        
        

      

    

    Exhibit
      A

     

    FORM
      OF SUBSCRIPTION

     

    (To
      Be
      Signed Only On Exercise Of Warrant)

     

    TO: [Shellco]

     

    Attention: Chief
      Financial Officer

     

    The
      undersigned, pursuant to the provisions set forth in the attached Warrant hereby
      irrevocable elects to purchase ___ shares of Common Stock covered by such
      Warrant.

     

    The
      undersigned herewith makes payment of the full Exercise Price for such shares
      at
      the price per share provided for in such Warrant, which is $___________. Such
      payment takes the form of lawful money of the United States.

     

    The
      undersigned is an “accredited investor” as defined in Regulation D, as
      promulgated under the Securities Act of 1933, as amended.

     

    The
      undersigned represents and warrants that all offers and sales by the undersigned
      of the shares of Common Stock 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: 

            	  
	 	 	 
              

    

     

    

    
      
         

      

      
         

        
          

        

      

      
         

        
        

      

    

    Exhibit
      B

     

    

    FORM
      OF ASSIGNMENT

    

    (To
      assign the foregoing warrant, execute

    this
      form
      and supply required information. 

    Do
      not
      use this form to exercise the warrant.)

    

    

    

    FOR
      VALUE
      RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby
      assigned to

     

    

    _______________________________________________
      whose address is

    

    
      
        

      

    

    

    

    
      

    

    

    Dated:
      ______________, _______  

    

    

    Holder’s
      Signature: _____________________________        

    

    Holder’s
      Address: _____________________________        

     

    _____________________________        

    

    

    

    Signature
      Guaranteed: ___________________________________________

    

    

    NOTE:
      The
      signature to this Assignment Form must correspond with the name as it appears
      on
      the face of the Warrant, without alteration or enlargement or any change
      whatsoever, and must be guaranteed by a bank or trust company. Officers of
      corporations and those acting in a fiduciary or other representative capacity
      should file proper evidence of authority to assign the foregoing
      Warrant.

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