Document:

FC Financial Services Inc.: Exhibit 4.2 - Prepared by TNT Filings Inc.

 

WARRANT CERTIFICATE NO. «Warrant_Cert_No» 

THIS WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON
EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE "ACT"), OR THE SECURITIES LAWS OF ANY STATE. THIS WARRANT
MAY NOT BE EXERCISED IN THE UNITED STATES OR BY OR ON BEHALF OF A PERSON IN THE
UNITED STATES OR A U.S. PERSON UNLESS THE WARRANT AND THE UNDERLYING SHARES AND
WARRANTS HAVE BEEN REGISTERED UNDER THE ACT AND THE APPLICABLE SECURITIES
LEGISLATION OF ANY SUCH STATE OR AN EXEMPTION FROM SUCH REGISTRATION
REQUIREMENTS IS AVAILABLE. "UNITED STATES" AND "U.S. PERSON" ARE AS DEFINED BY
REGULATION S UNDER THE ACT. HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY
NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT. 

FC FINANCIAL SERVICES INC. 

A NEVADA CORPORATION 

110 Jardin Drive, Suite 13 

Concord, Ontario 

Canada L4K 2T7 

COMMON STOCK PURCHASE WARRANT CERTIFICATE 

«IssueDate» 

1.        Issuance 

THIS IS TO CERTIFY THAT, for value received, «NAME_OF_SUBSCRIBER_»
of «Address_of_Subscriber», (the "Holder"), shall have the right to purchase
from FC FINANCIAL SERVICES INC., a Nevada corporation (the
"Corporation"), «Number_Units_» («No_of_Warrants») fully paid and
non-assessable shares of the Corporation's common stock (the "Shares"), subject
to further adjustment as set forth in Section 6 hereof, at any time until 5:00
P.M., Pacific time, on the «ExpireDay» day of «ExpireMonth», «ExpireYear» (the
"Expiration Date") at an exercise price (the "Exercise Price") equal to $«ExercisePrix»
US per share. 

2.         Exercise of Warrants

This Warrant is exercisable in whole or in partial allotments
at the Exercise Price per Share payable hereunder, payable in cash or by
certified or official bank check. Upon surrender of this Warrant Certificate
with the annexed Notice of Exercise Form duly executed, together with payment of
the Exercise Price for the Shares purchased, the Holder shall be entitled to
receive a certificate or certificates for the Shares so purchased. No fractional
shares shall be issued in connection with any exercise of this Warrant. In lieu
of the issuance of any fractional share, the Corporation shall round up or down
the fractional amount to the nearest whole number. 

3.         Reservation of
Shares 

The Corporation hereby agrees that at all times during the
term of this Warrant there shall be reserved for issuance upon exercise of this
Warrant such number of Shares as shall be required for issuance upon exercise of
this Warrant (the "Warrant Shares"). 

4.         Mutilation or Loss
of Warrant 

Upon receipt by the Corporation of evidence satisfactory to it of the loss,
theft, destruction or mutilation of this Warrant, and (in the case of loss,
theft or destruction) receipt of reasonably satisfactory 

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	FC FINANCIAL SERVICES INC.
	Common Stock Purchase
	
    Warrant Certificate No. «Warrant_Cert_No»

indemnification, and (in the case of mutilation) upon
surrender and cancellation of this Warrant, the Corporation will execute and
deliver a new Warrant of like tenor and date and any such lost, stolen,
destroyed or mutilated Warrant shall thereupon become void. 

5.         Rights of the Holder

The Holder shall not, by virtue hereof, be entitled to any
rights of a stockholder in the Corporation, either at law or equity, and the
rights of the Holder are limited to those expressed in this Warrant and are not
enforceable against the Corporation except to the extent set forth herein. 

6.         Protection Against
Dilution 

The Exercise Price and the number of shares which can be purchased by the
Holder upon the exercise of this Warrant shall be subject to adjustment in the
events and in the manner following: 

(1)   
If and whenever the shares at any time outstanding shall be subdivided into a
greater number or consolidated into a lesser number of shares, the Exercise
Price shall be decreased or increased proportionately as the case may be; upon
any such subdivision or consolidation, the number of shares which can be
purchased upon the exercise of this warrant certificate shall be increased or
decreased proportionately as the case may be. 

(2)   In
case of any capital reorganization or of any reclassification of the capital of
the Corporation or in case of the consolidation, merger or amalgamation of the
Corporation with or into any other company, this Warrant shall after such
capital reorganization, reclassification of capital, consolidation, merger or
amalgamation confer the right to purchase the number of shares or other
securities of the Corporation or of the Corporation resulting from such capital
reorganization, reclassification, consolidation, merger or amalgamation, as the
case may be, to which the Holder of the shares deliverable at the time of such
capital reorganization, reclassification of capital, consolidation, merger or
amalgamation, upon the exercise of this Warrant would have been entitled. On
such capital reorganization, reclassification, consolidation, merger or
amalgamation appropriate adjustments shall be made in the application of the
provisions set forth herein with respect to the rights and interest thereafter
of the Holder of this Warrant so that the provisions set forth herein shall
thereafter be applicable as nearly as may reasonably be in relation to any
shares or other securities thereafter deliverable on the exercise of this
Warrant. 

(3)   The
rights of the Holder evidenced hereby are to purchase shares prior to or on the
date set out on the face of this Warrant. If there shall, prior to the exercise
of any of the rights evidenced hereby, be any reorganization of the authorized
capital of the Corporation by way of consolidation, merger, subdivision,
amalgamation or otherwise, or the payment of any stock dividends, then there
shall automatically be an adjustment in either or both of the number of shares
which may be purchased pursuant hereto or the price at which such shares may be
purchased so that the rights evidenced hereby shall thereafter as reasonably as
possible be equivalent to those originally granted hereby. The Corporation shall
have the sole and exclusive power to make such adjustments as it considers
necessary and desirable. 

(4)    The
adjustments provided for herein in the subscription rights represented by this
Warrant are cumulative. 

3

	FC FINANCIAL SERVICES INC.
	Common Stock Purchase
	
    Warrant Certificate No. «Warrant_Cert_No»

7.         Transfer to Comply
with the Securities Act and Other Applicable Securities Legislation 

This Warrant and the Warrant Shares have not been registered
under the Securities Act of 1933, as amended, (the "Act") and have been issued
to the Holder pursuant to Regulation S of the Act on the representations of the
Holder in a subscription agreement executed by the Holder in favor of the
Corporation. Neither this Warrant nor any of the Warrant Shares or any other
security issued or issuable upon exercise of this Warrant may be sold,
transferred, pledged or hypothecated in the absence of an effective registration
statement under the Act relating to such security or an opinion of counsel
reasonably satisfactory to the Corporation that registration is not required
under the Act. Each certificate for the Warrant, the Warrant Shares and any
other security issued or issuable upon exercise of this Warrant shall contain a
legend on the face thereof, in form and substance satisfactory to counsel for
the Corporation, setting forth the restrictions on transfer contained in this
Section. By acceptance of this certificate, the Holder acknowledges and agrees
that: 

(1)   The
Holder will only sell the Warrants and the shares issuable upon exercise of the
Warrants (the "Warrant Shares") only in accordance with the provisions of
Regulation S of the Act, pursuant to registration under the Act, or pursuant to
an available exemption from registration pursuant to the Act; 

(2)   The
Corporation will refuse to register any transfer of the Warrants and the Warrant
Shares not made in accordance with the provisions of Regulation S of the Act,
pursuant to registration under the Act, or pursuant to an available exemption
from registration; 

(3)   The Holder will not
engage in hedging transactions except in accordance with the Act; 

All certificates representing the Warrant Shares will be endorsed with the
following legend: 

"THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED (THE "ACT"), AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE
REGISTRATION REQUIREMENTS OF THE ACT PROVIDED BY REGULATION S PROMULGATED UNDER
THE ACT. SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE
TRANSFERRED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT
TO AN EFFECTIVE REGISTRATION UNDER THE ACT, OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM REGISTRATION UNDER THE ACT. HEDGING TRANSACTIONS INVOLVING THE
SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT." 

In addition, the Holder will comply with all other applicable
securities legislation in addition to the Act to which the Holder is subject in
selling or transferring any Warrants or Warrant Shares and the Corporation may
refuse to register any sale or transfer not in compliance with such other
securities legislation. 

8.         Payment of Taxes 

The Corporation shall not be required to pay any tax or other
charge imposed in connection with the exercise of this Warrant or a permissible
transfer involved in the issuance of any certificate for shares issuable under
this Warrant in the name other than that of the Holder, and in any such case,
the Corporation shall not be required to issue or deliver any stock certificate
until such tax or other charge has been paid or it has been established to the
Corporation's satisfaction that no such tax or other charge is due. 

4

	FC FINANCIAL SERVICES INC.
	Common Stock Purchase
	
    Warrant Certificate No. «Warrant_Cert_No»

9.         Notices 

Any notice required or permitted hereunder shall be given in
writing and shall be deemed effectively given upon, (a) by personal delivery or
telecopy, or (ii) one business day after deposit with a nationally recognized
overnight delivery service such as Federal Express, with postage and fees
prepaid, addressed to each of the other parties thereunto entitled at the
following addresses, or at such other addresses as a party may designate by
written notice to each of the other parties hereto. 

	CORPORATION:	FC FINANCIAL SERVICES INC.
	 	Attention: Taras Chebountchak, President
	 	110 Jardin Drive, Suite 13
	 	Concord, Ontario
	 	Canada L4K 2T7
	 	 
	 	Fax: (905) 761-1095
	 	 
	with a copy to:	O'NEILL LAW GROUP PLLC
	 	Attention: Stephen F.X. O'Neill
	 	435 Martin Street, Suite 1010
	 	Blaine, Washington 98230
	 	 
	 	Fax: (360) 332-2291
	 	 
	HOLDER:	At the address set forth above.

10.         Governing Law 

This Warrant shall be deemed to be a contract made under the
laws of the State of Nevada and for all purposes shall be governed by and
construed in accordance with the laws of the State of Nevada applicable to
contracts to be made and performed entirely within the State of Nevada. 

IN WITNESS WHEREOF, the Corporation has caused this Warrant to be duly
executed and delivered by its duly authorized officer. 

FC FINANCIAL SERVICES INC. 

by its authorized signatory: 

	
    TARAS CHEBOUNTCHAK,	 
	PRESIDENT	 

NOTICE OF EXERCISE FORM 

TO:         FC FINANCIAL SERVICES
INC. 

               
A Nevada Corporation (the "Corporation") 

Dear Sirs: 

The undersigned (the "Subscriber") hereby exercises the right
to purchase and hereby subscribes for shares of the common stock of FC FINANCIAL
SERVICES INC. (the "Shares") referred to in the Common Stock Purchase Warrant
Certificate surrendered herewith according to the terms and conditions thereof
and herewith makes payment by cash, certified check or bank draft of the
purchase price in full for the Shares in accordance with the Warrant. 

Please issue a certificate for the shares being purchased as follows in the
name of the Subscriber: 

	
    NAME:
	 
	
     
	(Please Print)
	
     
	 
	
    ADDRESS:
	 
	
     
	 

 

The Subscriber represents and warrants to the Corporation that: 

(a)   The Subscriber has
not offered or sold the Shares within the meaning of the United States
Securities Act of 1933 (the "Securities Act"); 

(b)   The Subscriber is
acquiring the Shares for its own account for investment, with no present
intention of dividing my interest with others or of reselling or otherwise
disposing of all or any portion of the same; 

(c)    The
Subscriber does not intend any sale of the Shares either currently or after the
passage of a fixed or determinable period of time or upon the occurrence or
non-occurrence of any predetermined event or circumstance; 

(d)   The Subscriber has
no present or contemplated agreement, undertaking, arrangement, obligation,
indebtedness or commitment providing for or which is likely to compel a
disposition of the Shares; 

(e)   The Subscriber is
not aware of any circumstances presently in existence which are likely in the
future to prompt a disposition of the Shares; 

(f)    The Shares
were offered to the Subscriber in direct communication between the Subscriber
and the Corporation and not through any advertisement of any kind; 

(g)   The Subscriber has
the financial means to bear the economic risk of the investment which it hereby
agrees to make; 

(h)   This subscription
form will also confirm the Subscriber's agreement as follows: 

(i)     The
Subscriber will only sell the Shares in accordance with the provisions of
Regulation S of the Securities Act pursuant to registration under the Securities
Act, or pursuant to an available exemption from registration pursuant to the
Securities Act; 

(ii)    The
Corporation will refuse to register any transfer of the Shares not made in
accordance with the provisions of Regulation S of the Securities Act, pursuant
to registration under the Securities Act, or pursuant to an available exemption
from registration; 

(iii)   The Subscriber
will not engage in hedging transactions except in accordance with the Securities
Act; 

(iv)   The Subscriber has
no right to require the Corporation to register the Shares under the Securities
Act; 

(v)    The
certificates representing the Shares will be endorsed with the following legend:

"THE SECURITIES REPRESENTED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE
"ACT"), AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE ACT PROVIDED BY REGULATION S PROMULGATED UNDER THE ACT. SUCH
SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE TRANSFERRED
EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S, PURSUANT TO AN
EFFECTIVE REGISTRATION UNDER THE ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM
REGISTRATION UNDER THE ACT. HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY
NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE ACT. 

(vi)   The Subscriber is
not a U.S. Person, as defined in Regulation S of the Securities Act. 

Please deliver a share certificate in respect of the common shares referred
to in the warrant certificate surrendered herewith but not presently subscribed
for, to the Subscriber. 

	DATED this	 	
    day of
	
    ,
	 	.
	 	 	 	 	 	 
	 	 	 	 	 	 
	Signature of Subscriber:	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	Name of Subscriber:	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	Address of Subscriber:FC Financial Services Inc. - Exhibit 4.3 - Prepared By TNT Filings Inc.

 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON
EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE "SECURITIES ACT"), AND MAY NOT BE SOLD, OFFERED FOR SALE,
ASSIGNED, TRANSFERRED OR OTHERWISE DISPOSED OF, UNLESS REGISTERED PURSUANT TO
THE PROVISIONS OF THE SECURITIES ACT OR AN OPINION OF COUNSEL IS OBTAINED
STATING THAT SUCH DISPOSITION IS IN COMPLIANCE WITH AN AVAILABLE EXEMPTION FROM
SUCH REGISTRATION AND THE OTHER RESTRICTIONS CONTAINED IN THIS WARRANT. 

October 6, 2006 

FC FINANCIAL SERVICES INC. 

Warrant for the Right to Purchase 50,000 Shares of Common
Stock 

No. W____ 

For value received, this Warrant is
hereby issued by FC Financial Services Inc., a Nevada corporation (the
"Company"), to ____(the "Holder"). Subject to the provisions of this Warrant,
the Company hereby grants to Holder the right to purchase from the Company
____shares of Common Stock, at a price of $1.00 per share (the "Exercise
Price"). 

The term "Common Stock" means the
Common Stock, par value $0.00001 per share, of the Company as constituted on the
date set forth above (the "Base Date"). The number of shares of Common Stock to
be received upon the exercise of this Warrant may be adjusted from time to time
as hereinafter set forth. The shares of Common Stock deliverable upon such
exercise, and as adjusted from time to time, are hereinafter referred to as
"Warrant Stock." The term "Other Securities" means any other equity or debt
securities that may be issued by the Company in addition thereto or in
substitution for the Warrant Stock. 

The Holder agrees with the Company
that this Warrant is issued, and all the rights hereunder shall be held, subject
to all of the conditions, limitations and provisions set forth herein. 

1. Exercise of Warrant. Subject to
the terms and conditions set forth herein, this Warrant may be exercised in
whole or in part, pursuant to the procedures provided below, at any time on or
before 5:00 p.m., Eastern time, on October 3, 2008, (following appropriate
adjustment in the event of any stock dividends, stock splits, combination or
other similar recapitalization affecting such shares) (the "Expiration Date")
or, if such day is a day on which banking institutions in New York are
authorized by law to close, then on the next succeeding day that shall not be
such a day. To exercise this Warrant the Holder shall present and surrender this
Warrant to the Company at its principal office, with the Warrant Exercise Form
attached hereto duly executed by the Holder and accompanied by payment (either
in cash or by check, payable to the order of the Company) of the aggregate
Exercise Price for the total aggregate number of shares for which this Warrant
is exercised. Upon receipt by the Company of this Warrant, together with the
executed Warrant Exercise Form and payment of the Exercise Price for the shares
to be acquired, in proper form for exercise, and subject to the Holder’s
compliance with all requirements of this Warrant for the exercise hereof, the
Holder shall be deemed to be the holder of record of the shares of Common Stock
(or Other Securities) issuable upon such exercise, notwithstanding that the
stock transfer books of the Company shall then be closed or that certificates
representing such shares of Common Stock shall not then be actually delivered to
the Holder; provided, however, that no exercise of this Warrant
shall be effective, and the Company shall have no obligation to issue any Common
Stock or Other Securities to the Holder upon any attempted exercise of this
Warrant, unless the Holder shall have first delivered to the Company, in form
and substance reasonably satisfactory to the Company, appropriate
representations so as to provide the Company reasonable assurances that the
securities issuable upon exercise may be issued without violation of the
registration requirements of the Securities Act of 1933, as amended (the
"Securities Act") and applicable state securities laws, including without
limitation representations that the exercising Holder is an "accredited
investor" as defined in Regulation D under the Securities Act and that the
Holder is familiar with the Company and its business and financial condition and
has had an opportunity to ask questions and receive documents relating thereto
to his reasonable satisfaction. 

1 

2. Net Issue Exercise.
Notwithstanding any provisions herein to the contrary, if the Fair Market Value
(as defined below) of one share of Common Stock is greater than the Exercise
Price (at the date of calculation as set forth below), in lieu of exercising
this Warrant for cash, the Holder may elect to receive shares equal to the value
(as determined below) of this Warrant (or the portion thereof being cancelled)
by surrender of this Warrant at the principal office of the Company together
with the properly endorsed Warrant Exercise Form and notice of such election, in
which event the Company shall issue to the Holder a number of shares of Common
Stock computed using the following formula: 

	X = Y (A-B)	 
	            A	 
	Where	X =	the number of shares of
    Common Stock to be issued to the Holder
	 	Y =	the number of shares of
    Common Stock purchasable under the Warrant or, if only a portion of the
    Warrant is being exercised, the portion of the Warrant being exercised (at
    the date of such calculation)
	 	A =	the Fair Market Value (as
    defined below) of one share of the Company’s Common Stock (at the date of
    such calculation)
	 	B =	Exercise Price (as adjusted
    to the date of such calculation)

3. Reservation of Shares. The
Company will at all times reserve for issuance and delivery upon exercise of
this Warrant all shares of Common Stock or other shares of capital stock of the
Company (and Other Securities) from time to time receivable upon exercise of
this Warrant. All such shares (and Other Securities) shall be duly authorized
and, when issued upon such exercise, shall be validly issued, fully paid and
non-assessable and free of all preemptive rights. 

4. Fractional Shares. No
fractional shares or scrip representing fractional shares shall be issued upon
the exercise of this Warrant, but the Company shall pay the Holder an amount
equal to the Fair Market Value of such fractional share of Common Stock in lieu
of each fraction of a share otherwise called for upon any exercise of this
Warrant. 

5. Fair Market Value. For
purposes of this Warrant, the Fair Market Value of a share of Common Stock (or
Other Security) shall be determined as of any date (the "Value Date") by the
Company’s Board of Directors in good faith; provided, however, that where there
exists a public market for the Company’s Common Stock on the Value Date, the
fair market value per share shall be either: 

(a) If the Common Stock is listed on
a national securities exchange or listed for trading on the NASDAQ system, the
Fair Market Value shall be the last reported sale price of the security on such
exchange or system on the last business day prior to the Value Date or if no
such sale is made on such day, the average of the closing bid and asked prices
for such day on such exchange or system; or 

(b) If the Common Stock is not so listed but is
traded in the over-the-counter market, the Fair Market Value shall be the mean
of the last reported bid and asked prices reported by the over-the-counter
market on the last business day prior to the Value Date. 

2

6. Assignment or Loss of Warrant.
Subject to the transfer restrictions herein (including Section 9), upon
surrender of this Warrant to the Company or at the office of its stock transfer
agent, if any, with the Assignment Form annexed hereto duly executed and funds
sufficient to pay any transfer tax, the Company shall, without charge, execute
and deliver a new Warrant in the name of the assignee named in such instrument
of assignment and this Warrant shall promptly be canceled. Upon receipt by the
Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant, and of reasonably satisfactory
indemnification by the Holder, and upon surrender and cancellation of this
Warrant, if mutilated, the Company shall execute and deliver a replacement
Warrant of like tenor and date. 

7. Rights of the Holder. The
Holder shall not, by virtue hereof, be entitled to any rights of a stockholder
in the Company, either at law or in equity, and the rights of the Holder are
limited to those expressed in this Warrant. 

8. 
Adjustments. 

8.1 Adjustment for
Recapitalization. If the Company shall at any time after the Base Date
subdivide its outstanding shares of Common Stock (or Other Securities at the
time receivable upon the exercise of the Warrant) by recapitalization,
reclassification or split-up thereof, or if the Company shall declare a stock
dividend or distribute shares of Common Stock to its stockholders, the number of
shares of Common Stock (or Other Securities) subject to this Warrant immediately
prior to such subdivision shall be proportionately increased, and if the Company
shall at any time after the Base Date combine the outstanding shares of Common
Stock by recapitalization, reclassification or combination thereof, the number
of shares of Common Stock subject to this Warrant immediately prior to such
combination shall be proportionately decreased. Any such adjustment and
adjustment to the Exercise Price pursuant to this Section 8.1 shall be effective
at the close of business on the effective date of such subdivision or
combination or if any adjustment is the result of a stock dividend or
distribution then the effective date for such adjustment based thereon shall be
the record date therefor. 

Whenever the number of shares of Common Stock purchasable
upon the exercise of this Warrant is adjusted, as provided in this Section 8.1,
the Exercise Price shall be adjusted to the nearest cent by multiplying such
Exercise Price immediately prior to such adjustment by a fraction (x) the
numerator of which shall be the number of shares of Common Stock purchasable
upon the exercise immediately prior to such adjustment, and (y) the denominator
of which shall be the number of shares of Common Stock so purchasable
immediately thereafter. 

8.2 Adjustment for Reorganization,
Consolidation, Merger, Etc. In case of any reorganization of the Company (or
any other corporation, the securities of which are at the time receivable on the
exercise of this Warrant) after the Base Date or in case after such date the
Company (or any such other corporation) shall consolidate with or merge into
another corporation or convey all or substantially all of its assets to another
corporation, then, and in each such case, the Holder of this Warrant upon the
exercise thereof as provided in Section 1 at any time after the consummation of
such reorganization, consolidation, merger or conveyance, shall be entitled to
receive, in lieu of the securities and property receivable upon the exercise of
this Warrant prior to such consummation, the securities or property to which
such Holder would have been entitled upon such consummation if such Holder had
exercised this Warrant immediately prior thereto; in each such case, the terms
of this Warrant shall be applicable to the securities or property receivable
upon the exercise of this Warrant after such consummation. 

8.3 Certificate as to Adjustments.
The adjustments provided in this Section 8 shall be interpreted and applied
by the Company in such a fashion so as to reasonably preserve the applicability
and benefits of this Warrant (but not to increase or diminish the benefits
hereunder). In each case of an adjustment in the number of shares of Common
Stock receivable on the exercise of the Warrant, the Company at its expense will
compute such adjustment in accordance with the terms of the Warrant and prepare
a certificate executed by an officer of the Company setting forth such
adjustment and showing in detail the facts upon which such adjustment is based.
The Company will forthwith mail a copy of each such certificate to each Holder.

3

8.4 Notices of Record Date, Etc.
In the event that: 

(a) the Company shall declare any
dividend or other distribution to the holders of Common Stock, or authorizes the
granting to all Common Stock holders of any right to subscribe for, purchase or
otherwise acquire any shares of stock of any class or any other securities; or

(b) the Company authorizes any
capital reorganization of the Company, any reclassification of the capital stock
of the Company, any consolidation or merger of the Company with or into another
corporation, or any conveyance of all or substantially all of the assets of the
Company to another corporation or entity; or 

(c) the Company authorizes any
voluntary or involuntary dissolution, liquidation or winding up of the Company,

then, and in each such case, the Company shall mail or cause
to be mailed to the holder of this Warrant at the time outstanding a notice
specifying, as the case may be, (i) the date on which a record is to be taken
for the purpose of such dividend, distribution or right, and stating the amount
and character of such dividend, distribution or right, or (ii) the date on which
such reorganization, reclassification, consolidation, merger, conveyance,
dissolution, liquidation or winding up is to take place, and the time, if any is
to be fixed, as to which the holders of record of Common Stock (or such other
securities at the time receivable upon the exercise of the Warrant) shall be
entitled to exchange their shares of Common Stock (or such Other Securities) for
securities or other property deliverable upon such reorganization,
reclassification, consolidation, merger, conveyance, dissolution, liquidation or
winding up. Such notice shall be mailed at least 15 days prior to the date
therein specified. 

8.5 No Impairment. The Company
will not, by any voluntary action, avoid or seek to avoid the observance or
performance of any of the terms to be observed or performed hereunder by the
Company, but will at all times in good faith assist in the carrying out of all
the provisions of this Section 8 and in the taking of all such action as may be
necessary or appropriate in order to protect the rights of the Holder of this
Warrant against impairment. 

9. Transfer to Comply with the
Securities Act. This Warrant and any Warrant Stock or Other Securities may
not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed
of except as follows: (a) to a person who, in the opinion of counsel to the
Company, is a person to whom this Warrant or the Warrant Stock or Other
Securities may legally be transferred without registration and without the
delivery of a current prospectus under the Securities Act with respect thereto
and then only against receipt of an agreement of such person to comply with the
provisions of this Section 9 with respect to any resale or other disposition of
such securities; or (b) to any person upon delivery of a prospectus then meeting
the requirements of the Securities Act relating to such securities and the
offering thereof for such sale or disposition, and thereafter to all successive
assignees. 

10. Legend. Unless the shares
of Warrant Stock or Other Securities have been registered under the Securities
Act, upon exercise of this Warrant and the issuance of any of the shares of
Warrant Stock, all certificates representing shares shall bear on the face
thereof substantially the following legend: 

The securities represented by this
certificate have not been registered under the Securities Act of 1933, as
amended, and may not be sold, offered for sale, assigned, transferred or
otherwise disposed of, unless registered pursuant to the provisions of that Act
or unless an opinion of counsel to the
Corporation is obtained stating that such disposition is in compliance with an
available exemption from such registration. 

4 

11. Notices. All notices
required hereunder shall be in writing and shall be deemed given when sent via
facsimile or e-mail, with a confirmation of the delivery thereof, and then only
if followed up with a duplicate copy sent via regular mail, delivered personally
or within two days after mailing when mailed by certified or registered mail,
return receipt requested, to the Company or the Holder, as the case may be, for
whom such notice is intended, if to the Holder, at the address of such party
shown on the books of the Company, or if to the Company, at the address set
forth on the signature page hereof, Attn: Chief Financial Officer, or at such
other address of which the Company or the Holder has been advised by notice
hereunder. 

12. Applicable Law. The
Warrant is issued under and shall for all purposes be governed by and construed
in accordance with the laws of the State of Delaware, without regard to the
conflict of laws provisions of such State. 

IN WITNESS WHEREOF, the Company has
caused this Warrant to be signed on its behalf, in its corporate name, by its
duly authorized officer, all as of the day and year first above written. 

	 	FC FINANCIAL SERVICES INC.
	 	 
	 	 
	 	
    
      By:

    
	 	Sass Peress, Chief Executive
    Officer
	 	 
	 	Address:
	 	 
	 	7075 Place Robert-Joncas,
    Unit 131
	 	Montreal, Quebec, Canada
	 	H4M 2Z2

5 

WARRANT EXERCISE FORM 

The undersigned hereby irrevocably elects to (please
check box): 

________ (i) exercise the within
Warrant to purchase __________ shares of the Common Stock of FC Financial
Services Inc., a Nevada corporation, pursuant to the provisions of Section 1 of
the attached Warrant, and hereby makes payment of $__________ in payment
therefor, or 

________(ii) exercise the within Warrant to purchase
that number of shares of Common Stock purchasable pursuant to the net issue
exercise procedure set forth in Section 2 of the attached Warrant. 

The undersigned’s execution of this form constitutes
the undersigned’s agreement to all the terms of the Warrant and to comply
therewith. 

	 	 
	 	
    
      Signature

    
	 	Print Name:
	 	 
	 	 
	 	 
		
    
      Signature, if jointly held

    
	 	 
	 	Print Name:
	 	 
	 	 
	 	
    
      Date

    

6 

ASSIGNMENT FORM 

FOR VALUE RECEIVED_____________________________ ("Assignor")
hereby sells, assigns and transfers unto _______________________________
("Assignee") all of Assignor’s right, title and interest in, to and under
Warrant No. W-____ issued by ____________________________, dated ______________.

	
    
      DATED:

    	 	 
	 	 	 
	 	 	ASSIGNOR:
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	
    
      Signature

    
	 	 	Print Name:
	 	 	 
	 	 	 
	 	 	 
	 	 	
    
      Signature, if jointly held

    
	 	 	Print Name:

The undersigned agrees to all of the terms of the Warrant and to comply
therewith. 

	 	ASSIGNEE:
	 	 
	 	 
	 	 
	 	
    
      Signature

    
	 	Print Name:
	 	 
	 	 
	 	
    
      Signature, if jointly held

    
	 	Print Name:

7

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