Document:

a6160172ex4-1.htm

     

    
      
        Exhibit
4.1

      

       

      

      COMMON
STOCK PURCHASE WARRANT

       

      
        	 	
                THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE, THE COMMON STOCK ISSUABLE UPON
      EXERCISE HEREOF, AND ANY INTEREST THEREIN MAY NOT BE OFFERED OR SOLD
      EXCEPT PURSUANT TO (i) A REGISTRATION STATEMENT UNDER THE SECURITIES ACT
      OF 1933, AS AMENDED, OR (ii) AN EXEMPTION FROM REGISTRATION UNDER SUCH
      ACT.

              	 

      

       

       

      THE
TRANSFER OF THIS WARRANT IS

      RESTRICTED
AS DESCRIBED HEREIN

       

      VOID
AFTER 5:00 P.M., NEW YORK TIME,

      ON
AUGUST  19, 2019

       

       

      COPYTELE,
INC.

       

      Warrant
for the Purchase

      of

        250,000
Shares of Common Stock

       

      No.
1

       

      THIS CERTIFIES that, for
value received, ZQX Advisors, LLC (the “Holder”) is entitled to subscribe for
and purchase from CopyTele, Inc., a Delaware corporation (the “Company”), upon
the terms and subject to the conditions set forth herein, at any time or from
time to time on or after August 19, 2010 and before 5:00 P.M., New York time, on
August 19, 2019 (the “Exercise Period”), 250,000 shares of the Company’s Common
Stock, par value $.01 per share (the “Common Stock”) (the “Warrant Shares”), at
a price of $ 0.37  per share (the “Exercise
Price”).

       

      No transfer of this
Warrant or the Warrant Shares will be permitted unless a registration statement
under the Securities Act of 1933, as amended (the “Act”), is in effect as to
that transfer or, in the opinion of counsel reasonably satisfactory to the
Company, registration under the Act is not necessary for that transfer to comply
with the Act.  The term the “Holder” as used herein shall include any
transferee to whom this Warrant has been transferred in accordance with the
above.

       

      
        	
                1.

              	
                This
      Warrant may be exercised during the Exercise Period, as to the whole or
      any lesser number of Warrant Shares, by the surrender of this Warrant
      (with the Form of Election to Exercise at the end hereof duly completed
      and executed) to the Company at its office at 900 Walt Whitman Road,
      Melville, NY 11787, or at such other place as may be designated in writing
      by the Company, together with a certified or bank cashier’s check payable
      to the order of the Company or wire transfer of immediately available
      funds in an amount equal to the Exercise Price multiplied by the number of
      Warrant Shares for which this Warrant is being
  exercised.

              

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

     

    
      
        	
                2.

              	
                Upon
      each exercise of the Holder’s rights to purchase Warrant Shares, the
      Holder shall be deemed to be the holder of record of the Warrant Shares
      issuable upon such exercise, notwithstanding that the transfer books of
      the Company shall then be closed or certificates representing such Warrant
      Shares shall not then have been actually delivered to the
      Holder.  As soon as practicable after each such exercise of this
      Warrant, the Company shall issue and deliver to the Holder a certificate
      or certificates for the Warrant Shares issuable upon such exercise,
      registered in the name of the Holder.  If this Warrant should be
      exercised in part only, the Company shall, upon surrender of this Warrant
      for cancellation, execute and deliver a new Warrant evidencing the right
      of the Holder to purchase the balance of the Warrant Shares (or portions
      thereof) subject to purchase
hereunder.

              

      

       

      
        	
                3.

              	
                Any
      Warrants issued upon the transfer or exercise in part of this Warrant
      shall be numbered and shall be registered in a warrant register (the
      “Warrant Register”) as they are issued.  The Company shall be
      entitled to treat the registered holder of any Warrant on the Warrant
      Register as the owner in fact thereof for all purposes and shall not be
      bound to recognize any equitable or other claim to or interest in such
      Warrant on the part of any other person, and shall not be liable for any
      registration or transfer of Warrants which are registered or to be
      registered in the name of a fiduciary or the nominee of a fiduciary unless
      made with the actual knowledge that a fiduciary or nominee is committing a
      breach of trust in requesting such registration or transfer, or with the
      knowledge of such facts that its participation therein amounts to bad
      faith.  This Warrant shall be transferable on the books of the
      Company only upon delivery hereof with the Form of Assignment at the end
      hereof duly completed and executed by the Holder or by his or its duly
      authorized attorney or representative, or accompanied by proper evidence
      of succession, assignment, or authority to transfer.  In all
      cases of transfer by an attorney, executor, administrator, guardian or
      other legal representative, duly authenticated evidence of his or its
      authority shall be produced.  Upon any registration of transfer,
      the Company shall deliver a new Warrant or Warrants to the person entitled
      thereto.  This Warrant may be exchanged, at the option of the
      Holder thereof, for another Warrant, or other Warrants of different
      denominations, of like tenor and representing in the aggregate the right
      to purchase a like number of Warrant Shares (or portions thereof), upon
      surrender to the Company or its duly authorized
      agent.  Notwithstanding the foregoing, the Company shall have no
      obligation to cause this Warrant to be transferred on its books to any
      person if, in the opinion of counsel to the Company, such transfer does
      not comply with the provisions of the Act and the rules and regulations
      thereunder.

              

      

       

      
        	
                4.

              	
                The
      Company shall at all times during the Exercise Period reserve and keep
      available out of its authorized and unissued Common Stock, solely for the
      purpose of providing for the exercise of the Warrants, such number of
      shares of Common Stock as shall, from time to time, be sufficient
      therefore.  The Company covenants that all Warrant Shares, upon
      receipt by the Company of the full payment therefore, shall be validly
      issued, fully paid, nonassessable.

              

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                5.

              	
                (a)  In
      case of any consolidation with or merger of the Company with or into
      another corporation (other than a merger or consolidation in which the
      Company is the surviving or continuing corporation), or in case of any
      sale, lease, or conveyance to another corporation of the property and
      assets of any nature of the Company as an entirety or substantially as an
      entirety (such actions being hereinafter collectively referred to as
      “Reorganizations”), there shall thereafter be deliverable upon exercise of
      this Warrant (in lieu of the number of shares of Common Stock theretofore
      deliverable) the kind and amount of shares of stock or other securities or
      property receivable upon such Reorganization by a holder of the number of
      shares of Common Stock, for which this Warrant might have been exercised
      immediately prior to such Reorganization.  In case of any
      Reorganization, appropriate adjustment, as determined in good faith by the
      Board of Directors of the Company, shall be made in the application of the
      provisions herein set forth with respect to the rights and interests of
      the Holder so that the provisions set forth herein shall thereafter be
      applicable, as nearly as possible, in relation to any shares or other
      property thereafter deliverable upon exercise of this
      Warrant.  Any such adjustment shall be made by and set forth in
      a supplemental agreement between the Company, or any successor thereto,
      and the Holder and shall for all purposes hereof conclusively be deemed to
      be an appropriate adjustment.

              

      

       

      
        	
                 
      

              	
                (b)

              	
                In
      case of any reclassification or change of the shares of Common Stock
      issuable upon exercise of this Warrant (other than a change in par value
      or from no par value to a specified par value, or as a result of a
      subdivision or combination of the outstanding shares of Common Stock, but
      including any change of the shares of Common Stock into two or more
      classes or series of shares), or in case of any consolidation or merger of
      another corporation into the Company in which the Company is the
      continuing corporation and in which there is a reclassification or change
      (including a change to the right to receive cash or other property) of the
      shares of Common Stock (other than a change in par value, or from no par
      value to a specified par value, or as a result of a subdivision or
      combination of the outstanding shares of Common Stock, but including any
      change of the shares into two or more classes or series of shares), the
      Holder shall have the right thereafter to receive upon exercise of this
      Warrant solely the kind and amount of shares of stock and other
      securities, property, cash, or any combination thereof receivable upon
      such reclassification, change, consolidation, or merger by a holder of the
      number of shares of Common Stock for which this Warrant might have been
      exercised immediately prior to such reclassification, change,
      consolidation, or merger.

              

      

       

      
        	
                 
      

              	
                (c)

              	
                The
      above provisions of this Section 5 shall similarly apply to successive
      reclassifications and changes of shares of Common Stock and to successive
      consolidations, mergers, sales, leases, or
  conveyances.

              

      

       

      
        	
                6.

              	
                In
      case at any time the Company shall
propose:

              

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                 
      

              	
                (a)

              	
                to
      pay any dividend or make any distribution on shares of Common Stock in
      shares of Common Stock or make any other distribution to all holders of
      Common Stock; or

              

      

       

      
        	
                 
      

              	
                (b)

              	
                to
      issue any rights, warrants or other securities to all holders of Common
      Stock entitling them to purchase any additional shares of Common Stock or
      any other rights, warrants or other securities;
  or

              

      

       

      
        	
                 
      

              	
                (c)

              	
                to
      effect any reclassification or change of outstanding shares of Common
      Stock, or any consolidation, merger, sale, lease, or conveyance of
      property, described in Section 5;
or

              

      

       

      
        	
                 
      

              	
                (d)

              	
                to
      effect any liquidation, dissolution or winding-up of the
      Company;

              

      

       

      then, and
in any one or more of such cases, the Company shall give written notice thereof,
by registered mail, postage prepaid, to the Holder at the Holder’s address as it
shall appear in the Warrant Register, mailed at least 15 days  prior to (i) the date
as of which the holders of record of shares of Common Stock to be entitled to
receive any such dividend, distribution, rights, warrants, or other securities
are to be determined or (ii) the date on which any such reclassification, change
of outstanding shares of Common Stock, consolidation, merger, sale, lease,
conveyance of property, liquidation, dissolution, or winding-up is expected to
become effective, and the date as of which it is expected that holders of record
of shares of Common Stock shall be entitled to exchange their shares for
securities or other property, if any, deliverable upon such reclassification,
change of outstanding shares, consolidation, merger, sale, lease, conveyance of
property, liquidation, dissolution, or winding-up.

      

      
        	
                7.

              	
                The
      issuance of any shares or other securities upon the exercise of this
      Warrant and the delivery of certificates or other instruments representing
      such shares or other securities shall be made without charge to the Holder
      for any tax or other charge in respect of such issuance.  The
      Company shall not, however, be required to pay any tax which may be
      payable in respect of any transfer involved in the issue and delivery of
      any certificate in a name other than that of the Holder and the Company
      shall not be required to issue or deliver any such certificate unless and
      until the person or persons requesting the issue thereof shall have paid
      to the Company the amount of such tax or shall have established to the
      satisfaction of the Company that such tax has been
  paid.

              

      

       

      
        	
                8.

              	
                The
      Warrant Shares issued upon exercise of the Warrant shall be subject to a
      stop transfer order.  The certificate or certificates evidencing
      such Warrant Shares shall bear the following  legend unless the
      Warrant Shares are registered pursuant to the
  Act:

              

      

       

      “The
shares represented by this certificate have not been registered under the
Securities Act of 1933 (“Act”) and may not be transferred unless a registration
statement under the Act is in effect as to that transfer or, in the opinion of
counsel reasonably satisfactory to the Company, registration under the Act is
not necessary for that transfer to comply with the Act.”

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Whenever
the Holder is able to demonstrate to CopyTele (and its counsel) that the
provisions of Rule 144 under the Act are available to the Holder without
limitation with respect to the Warrant Shares, the Holder shall be entitled to
receive from the Company promptly, without expense, a certificate not bearing
such legend.

      

      
        	
                9.

              	
                Upon
      receipt of evidence satisfactory to the Company of the loss, theft,
      destruction or mutilation of any Warrant (and upon surrender of any
      Warrant if mutilated), and upon reimbursement of the Company’s reasonable
      incidental expenses, the Company shall execute and deliver to the Holder
      thereof a new Warrant of like date, tenor and
  denomination.

              

      

       

      
        	
                10.

              	
                The
      Holder of any Warrant shall not have, solely on account of such status,
      any rights of a stockholder of the Company, either at law or in equity, or
      to any notice of meetings of stockholders or of any other proceedings of
      the Company, except as provided in this
Warrant.

              

      

       

      
        	
                11.

              	
                This
      Warrant shall be governed by and construed in accordance with the law of
      the State of New York applicable to agreements made and to be performed in
      New York.

              

      

       

      

      Dated:  August
20, 2009

      

      

      COPYTELE, INC.

      

      

      By  /s/ Denis A.
Krusos

      Denis A. Krusos

      Chairman
& CEO

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      FORM OF
ASSIGNMENT

       

      (To be
executed by the registered holder if such holder desires to transfer the
attached Warrant.)

      

      FOR VALUE RECEIVED,
______________________ hereby sells, assigns, and transfers unto

      

      Name
________________________________

      

      Address_______________________________

      ______________________________________

      ______________________________________

      

      Social
Security or Tax Identification Number

      ______________________________________

      

      a Warrant
to purchase __________ shares of Common Stock, $.01 par value per share, of
CopyTele, Inc.(the “Company”), together with all right, title, and interest
therein, and does hereby irrevocably constitute and appoint _______________
attorney to transfer such Warrant on the books of the Company, with full power
of substitution.

      

      Dated:
_________________

       

      
        	 	Name
      ________________________________ 

                 

                Address_______________________________

                ______________________________________

                ______________________________________

                 

                Social
      Security or Tax Identification Number

                ______________________________________

                 

                Signature
      ______________________________

              
	 	NOTE:	The
      above signature should correspond exactly with the name on the first page
      of this Warrant

      

       

       

      
        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

      

      FORM OF
ELECTION TO EXERCISE

      

      To:           CopyTele,
Inc.

      

      The undersigned hereby exercises his or
its rights to purchase _______ Warrant Shares covered by the within Warrant and
tenders payment herewith in accordance with the terms thereof in the amount of
$_________ by certified or cashier’s check or by wire transfer of immediately
available funds and requests that certificates for such securities be issued in
the name of, and delivered to:

      

      Name
________________________________

      

      Address_______________________________

      ______________________________________

      ______________________________________

      

      Social
Security or Tax Identification Number __________________

      

      and, if
such number of Warrant Shares shall not be all the Warrant Shares covered by the
within Warrant, that a new Warrant for the balance of the Warrant Shares covered
by the within Warrant be registered in the name of, and delivered to, the
undersigned at the address stated below.

      

      Dated:
_________________

       

      
        	 	
                Name
      ________________________________

                 

                Address_______________________________

                ______________________________________

                ______________________________________

                 

                Social
      Security or Tax Identification Number

                ______________________________________

                 

                Signature
      ______________________________

              
	 	NOTE:	
                The
      above signature should correspond exactly with the name on the first page
      of this Warrant or with the name of the assignee appearing in the Form of
      Assignmenta6160172ex4-2.htm

    Exhibit
4.2

    
      
 

      COMMON
STOCK PURCHASE WARRANT

       

      
        	 	THE
      SECURITIES REPRESENTED BY THIS CERTIFICATE, THE COMMON STOCK ISSUABLE UPON
      EXERCISE HEREOF, AND ANY INTEREST THEREIN MAY NOT BE OFFERED OR SOLD
      EXCEPT PURSUANT TO (i) A REGISTRATION STATEMENT UNDER THE SECURITIES ACT
      OF 1933, AS AMENDED, OR (ii) AN EXEMPTION FROM REGISTRATION UNDER SUCH
      ACT. 	 

      

      
 

      THE
TRANSFER OF THIS WARRANT IS

      RESTRICTED
AS DESCRIBED HEREIN

      

      VOID
AFTER 5:00 P.M., NEW YORK TIME,

      ON
AUGUST  19, 2019

      

      

      COPYTELE,
INC.

      

      Warrant
for the Purchase

      of

        250,000
Shares of Common Stock

      

      No.
2

      

      THIS CERTIFIES that, for value
received, ZQX Advisors, LLC (the “Holder”) is entitled to subscribe for and
purchase from CopyTele, Inc., a Delaware corporation (the “Company”), upon the
terms and subject to the conditions set forth herein, at any time or from time
to time on or after August 19, 2010 and before 5:00 P.M., New York time, on
August 19, 2019 (the “Exercise Period”), 250,000 shares of the Company’s Common
Stock, par value $.01 per share (the “Common Stock”) (the “Warrant Shares”), at
a price of $ 0.555  per share (the “Exercise Price”).

      

      No transfer of this Warrant or the
Warrant Shares will be permitted unless a registration statement under the
Securities Act of 1933, as amended (the “Act”), is in effect as to that transfer
or, in the opinion of counsel reasonably satisfactory to the Company,
registration under the Act is not necessary for that transfer to comply with the
Act.  The term the “Holder” as used herein shall include any
transferee to whom this Warrant has been transferred in accordance with the
above.

      

      
        	
                
1.

              	
                This
      Warrant may be exercised during the Exercise Period, as to the whole or
      any lesser number of Warrant Shares, by the surrender of this Warrant
      (with the Form of Election to Exercise at the end hereof duly completed
      and executed) to the Company at its office at 900 Walt Whitman Road,
      Melville, NY 11787, or at such other place as may be designated in writing
      by the Company, together with a certified or bank cashier’s check payable
      to the order of the Company or wire transfer of immediately available
      funds in an amount equal to the Exercise Price multiplied by the number of
      Warrant Shares for which this Warrant is being
  exercised.

              

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                2.

              	
                Upon
      each exercise of the Holder’s rights to purchase Warrant Shares, the
      Holder shall be deemed to be the holder of record of the Warrant Shares
      issuable upon such exercise, notwithstanding that the transfer books of
      the Company shall then be closed or certificates representing such Warrant
      Shares shall not then have been actually delivered to the
      Holder.  As soon as practicable after each such exercise of this
      Warrant, the Company shall issue and deliver to the Holder a certificate
      or certificates for the Warrant Shares issuable upon such exercise,
      registered in the name of the Holder.  If this Warrant should be
      exercised in part only, the Company shall, upon surrender of this Warrant
      for cancellation, execute and deliver a new Warrant evidencing the right
      of the Holder to purchase the balance of the Warrant Shares (or portions
      thereof) subject to purchase
hereunder.

              

      

       

      
        	
                3.

              	
                Any
      Warrants issued upon the transfer or exercise in part of this Warrant
      shall be numbered and shall be registered in a warrant register (the
      “Warrant Register”) as they are issued.  The Company shall be
      entitled to treat the registered holder of any Warrant on the Warrant
      Register as the owner in fact thereof for all purposes and shall not be
      bound to recognize any equitable or other claim to or interest in such
      Warrant on the part of any other person, and shall not be liable for any
      registration or transfer of Warrants which are registered or to be
      registered in the name of a fiduciary or the nominee of a fiduciary unless
      made with the actual knowledge that a fiduciary or nominee is committing a
      breach of trust in requesting such registration or transfer, or with the
      knowledge of such facts that its participation therein amounts to bad
      faith.  This Warrant shall be transferable on the books of the
      Company only upon delivery hereof with the Form of Assignment at the end
      hereof duly completed and executed by the Holder or by his or its duly
      authorized attorney or representative, or accompanied by proper evidence
      of succession, assignment, or authority to transfer.  In all
      cases of transfer by an attorney, executor, administrator, guardian or
      other legal representative, duly authenticated evidence of his or its
      authority shall be produced.  Upon any registration of transfer,
      the Company shall deliver a new Warrant or Warrants to the person entitled
      thereto.  This Warrant may be exchanged, at the option of the
      Holder thereof, for another Warrant, or other Warrants of different
      denominations, of like tenor and representing in the aggregate the right
      to purchase a like number of Warrant Shares (or portions thereof), upon
      surrender to the Company or its duly authorized
      agent.  Notwithstanding the foregoing, the Company shall have no
      obligation to cause this Warrant to be transferred on its books to any
      person if, in the opinion of counsel to the Company, such transfer does
      not comply with the provisions of the Act and the rules and regulations
      thereunder.

              

      

       

      
        	
                4.

              	
                The
      Company shall at all times during the Exercise Period reserve and keep
      available out of its authorized and unissued Common Stock, solely for the
      purpose of providing for the exercise of the Warrants, such number of
      shares of Common Stock as shall, from time to time, be sufficient
      therefore.  The Company covenants that all Warrant Shares, upon
      receipt by the Company of the full payment therefore, shall be validly
      issued, fully paid, nonassessable.

              

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                5.

              	
                (a)   In
      case of any consolidation with or merger of the Company with or into
      another corporation (other than a merger or consolidation in which the
      Company is the surviving or continuing corporation), or in case of any
      sale, lease, or conveyance to another corporation of the property and
      assets of any nature of the Company as an entirety or substantially as an
      entirety (such actions being hereinafter collectively referred to as
      “Reorganizations”), there shall thereafter be deliverable upon exercise of
      this Warrant (in lieu of the number of shares of Common Stock theretofore
      deliverable) the kind and amount of shares of stock or other securities or
      property receivable upon such Reorganization by a holder of the number of
      shares of Common Stock, for which this Warrant might have been exercised
      immediately prior to such Reorganization.  In case of any
      Reorganization, appropriate adjustment, as determined in good faith by the
      Board of Directors of the Company, shall be made in the application of the
      provisions herein set forth with respect to the rights and interests of
      the Holder so that the provisions set forth herein shall thereafter be
      applicable, as nearly as possible, in relation to any shares or other
      property thereafter deliverable upon exercise of this
      Warrant.  Any such adjustment shall be made by and set forth in
      a supplemental agreement between the Company, or any successor thereto,
      and the Holder and shall for all purposes hereof conclusively be deemed to
      be an appropriate adjustment.

              

      

       

      
        	
                 
      

              	
                (b)

              	
                In
      case of any reclassification or change of the shares of Common Stock
      issuable upon exercise of this Warrant (other than a change in par value
      or from no par value to a specified par value, or as a result of a
      subdivision or combination of the outstanding shares of Common Stock, but
      including any change of the shares of Common Stock into two or more
      classes or series of shares), or in case of any consolidation or merger of
      another corporation into the Company in which the Company is the
      continuing corporation and in which there is a reclassification or change
      (including a change to the right to receive cash or other property) of the
      shares of Common Stock (other than a change in par value, or from no par
      value to a specified par value, or as a result of a subdivision or
      combination of the outstanding shares of Common Stock, but including any
      change of the shares into two or more classes or series of shares), the
      Holder shall have the right thereafter to receive upon exercise of this
      Warrant solely the kind and amount of shares of stock and other
      securities, property, cash, or any combination thereof receivable upon
      such reclassification, change, consolidation, or merger by a holder of the
      number of shares of Common Stock for which this Warrant might have been
      exercised immediately prior to such reclassification, change,
      consolidation, or merger.

              

      

       

      
        	
                 
      

              	
                (c)

              	
                The
      above provisions of this Section 5 shall similarly apply to successive
      reclassifications and changes of shares of Common Stock and to successive
      consolidations, mergers, sales, leases, or
  conveyances.

              

      

       

      
        	
                6.

              	
                In
      case at any time the Company shall
propose:

              

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      
        	
                 
      

              	
                (a)

              	
                to
      pay any dividend or make any distribution on shares of Common Stock in
      shares of Common Stock or make any other distribution to all holders of
      Common Stock; or

              

      

       

      
        	
                 
      

              	
                (b)

              	
                to
      issue any rights, warrants or other securities to all holders of Common
      Stock entitling them to purchase any additional shares of Common Stock or
      any other rights, warrants or other securities;
  or

              

      

       

      
        	
                 
      

              	
                (c)

              	
                to
      effect any reclassification or change of outstanding shares of Common
      Stock, or any consolidation, merger, sale, lease, or conveyance of
      property, described in Section 5;
or

              

      

       

      
        	
                 
      

              	
                (d)

              	
                to
      effect any liquidation, dissolution or winding-up of the
      Company;

              

      

       

      then, and
in any one or more of such cases, the Company shall give written notice thereof,
by registered mail, postage prepaid, to the Holder at the Holder’s address as it
shall appear in the Warrant Register, mailed at least 15 days  prior to (i) the date
as of which the holders of record of shares of Common Stock to be entitled to
receive any such dividend, distribution, rights, warrants, or other securities
are to be determined or (ii) the date on which any such reclassification, change
of outstanding shares of Common Stock, consolidation, merger, sale, lease,
conveyance of property, liquidation, dissolution, or winding-up is expected to
become effective, and the date as of which it is expected that holders of record
of shares of Common Stock shall be entitled to exchange their shares for
securities or other property, if any, deliverable upon such reclassification,
change of outstanding shares, consolidation, merger, sale, lease, conveyance of
property, liquidation, dissolution, or winding-up.

      

      
        	
                7.

              	
                The
      issuance of any shares or other securities upon the exercise of this
      Warrant and the delivery of certificates or other instruments representing
      such shares or other securities shall be made without charge to the Holder
      for any tax or other charge in respect of such issuance.  The
      Company shall not, however, be required to pay any tax which may be
      payable in respect of any transfer involved in the issue and delivery of
      any certificate in a name other than that of the Holder and the Company
      shall not be required to issue or deliver any such certificate unless and
      until the person or persons requesting the issue thereof shall have paid
      to the Company the amount of such tax or shall have established to the
      satisfaction of the Company that such tax has been
  paid.

              

      

       

      
        	
                8.

              	
                The
      Warrant Shares issued upon exercise of the Warrant shall be subject to a
      stop transfer order.  The certificate or certificates evidencing
      such Warrant Shares shall bear the following  legend unless the
      Warrant Shares are registered pursuant to the
  Act:

              

      

       

      “The
shares represented by this certificate have not been registered under the
Securities Act of 1933 (“Act”) and may not be transferred unless a registration
statement under the Act is in effect as to that transfer or, in the opinion of
counsel reasonably satisfactory to the Company, registration under the Act is
not necessary for that transfer to comply with the Act.”

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      Whenever
the Holder is able to demonstrate to CopyTele (and its counsel) that the
provisions of Rule 144 under the Act are available to the Holder without
limitation with respect to the Warrant Shares, the Holder shall be entitled to
receive from the Company promptly, without expense, a certificate not bearing
such legend.

      

      
        	
                9.

              	
                Upon
      receipt of evidence satisfactory to the Company of the loss, theft,
      destruction or mutilation of any Warrant (and upon surrender of any
      Warrant if mutilated), and upon reimbursement of the Company’s reasonable
      incidental expenses, the Company shall execute and deliver to the Holder
      thereof a new Warrant of like date, tenor and
  denomination.

              

      

       

      
        	
                10.

              	
                The
      Holder of any Warrant shall not have, solely on account of such status,
      any rights of a stockholder of the Company, either at law or in equity, or
      to any notice of meetings of stockholders or of any other proceedings of
      the Company, except as provided in this
Warrant.

              

      

       

      
        	
                11.

              	
                This
      Warrant shall be governed by and construed in accordance with the law of
      the State of New York applicable to agreements made and to be performed in
      New York.

              

      

       

      

      Dated:  August
20, 2009

      

      

      COPYTELE, INC.

      

      

      By: /s/ Denis A.
Krusos

      Denis A. Krusos

      Chairman
& CEO

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      FORM OF
ASSIGNMENT

       

      (To be
executed by the registered holder if such holder desires to transfer the
attached Warrant.)

      

      FOR VALUE RECEIVED,
______________________ hereby sells, assigns, and transfers unto

      

      Name
________________________________

      

      Address_______________________________

      ______________________________________

      ______________________________________

      

      Social
Security or Tax Identification Number

      ______________________________________

      

      a Warrant
to purchase __________ shares of Common Stock, $.01 par value per share, of
CopyTele, Inc.(the “Company”), together with all right, title, and interest
therein, and does hereby irrevocably constitute and appoint _______________
attorney to transfer such Warrant on the books of the Company, with full power
of substitution.

      

      Dated:
_________________

      
      

       

      
        	 	
                Name
      ________________________________

                 

                Address_______________________________

                ______________________________________

                ______________________________________

                 

                Social
      Security or Tax Identification Number

                ______________________________________

                 

                Signature
      ______________________________

              
	 	NOTE:
      

                 

              	The
      above signature should correspond exactly with the name on the first page
      of this Warrant

      

      
 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      FORM OF
ELECTION TO EXERCISE

      

      To:           CopyTele,
Inc.

      

      The undersigned hereby exercises his or
its rights to purchase _______ Warrant Shares covered by the within Warrant and
tenders payment herewith in accordance with the terms thereof in the amount of
$_________ by certified or cashier’s check or by wire transfer of immediately
available funds and requests that certificates for such securities be issued in
the name of, and delivered to:

      

      Name
________________________________

      

      Address_______________________________

      ______________________________________

      ______________________________________

      

      Social
Security or Tax Identification Number __________________

      

      and, if
such number of Warrant Shares shall not be all the Warrant Shares covered by the
within Warrant, that a new Warrant for the balance of the Warrant Shares covered
by the within Warrant be registered in the name of, and delivered to, the
undersigned at the address stated below.

      

      Dated:
_________________

       

      
        	 	Name
      ________________________________ 

                 

                Address_______________________________

                ______________________________________

                ______________________________________

                 

                Social
      Security or Tax Identification Number

                ______________________________________

                 

                Signature
      ______________________________

              
	 	NOTE:	
                The
      above signature should correspond exactly with the name on the first page
      of this Warrant or with the name of the assignee appearing in the Form of
      Assignment

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