Document:

Exhibit 4.1

  THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING
    ARE SET FORTH IN THE COMPANY’S PROSPECTUS DATED AUGUST 21, 2020, AS SUPPLEMENTED BY THE PROSPECTUS SUPPLEMENT DATED MAY 4, 2022
    (COLLECTIVELY, THE “PROSPECTUS”) AND ARE INCORPORATED HEREIN BY REFERENCE. COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST
    FROM BROADRIDGE CORPORATE ISSUER SOLUTIONS, INC., THE SUBSCRIPTION AGENT, BY CALLING (888) 789-8409.

  PULSE BIOSCIENCES, INC.

    Incorporated under the laws of the State of Delaware

  NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE

  Evidencing Non-Transferable Subscription Rights to Purchase Units
    of Pulse Biosciences, Inc.

    Subscription Price: To be determined as set forth below

  THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED
    ON OR BEFORE

    5:00 P.M., EASTERN TIME, ON MAY 23, 2022 (THE “EXPIRATION DATE”)

  REGISTERED OWNER:

  THIS CERTIFIES THAT the registered owner whose
    name is inscribed hereon is the owner of the number of non-transferable subscription rights (“Rights”) set forth above.
    The Rights entitle the holder thereof to subscribe for and purchase units of Pulse Biosciences, Inc., a Delaware corporation (the “Company”),
    each unit consisting of one share of common stock, par value $0.001 per share (the “Common Stock”) and a warrant to
    purchase one share of Common Stock, only during a limited time (the “Units”, and each, a “Unit”),
    at a subscription price per full Unit equal to the lesser of (i) $3.72 (the “Initial Price”) and (ii) the volume
    weighted average price of the Common Stock for the five trading day period through and including the Expiration Date (the “Alternate
      Price”), pursuant to a rights offering (the “Rights Offering”), on the terms and subject to the conditions
    set forth in the prospectus dated August 21, 2020, as supplemented by the prospectus supplement dated May 4, 2022 (collectively, the “Prospectus”).

  Each Right includes a subscription right. Under
    the subscription right, for each share of common stock owned as of the record date of the Rights Offering, the holder hereof is entitled
    to purchase 0.13530032 Units at the Initial Price per full Unit.

  The Rights represented by this Subscription Rights
    Certificate may be exercised by completing Section 1 and any other appropriate sections herein and by returning the full payment of the
    subscription price for each Unit in accordance with the instructions contained herein. If, on the Expiration Date, the Alternate Price
    is lower than the Initial Price, any excess subscription amounts paid will be put towards the purchase of additional Units (either towards
    basic subscription rights, if available, or towards the over-subscription right if the basic subscription rights have already been exercised
    in full).

  This Non-Transferable Subscription Rights Certificate
    is not valid unless countersigned by Broadridge Corporate Issuer Solutions, Inc., the Subscription Agent. Witness the seal of Pulse Biosciences,
    Inc. and the signatures of its duly authorized officers.

  DATED: May 4, 2022

  	 	​	​	 
	President and Chief Executive Officer	​	​	
          Secretary

        

  

  

  
  

  

  
    
      

  

  DELIVERY OPTIONS FOR NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE

  Deliver other than in the manner or to the addresses listed below will not constitute valid delivery.

  	If delivering by hand or overnight courier:	​	​	If delivering by first class mail:
	 	​	​	 
	Broadridge Corporate Issuer Solutions, Inc.

            Attn: BCIS IWS

            51 Mercedes Way

            Edgewood, NY 11717	​	​	Broadridge Corporate Issuer Solutions, Inc.

            Attn: BCIS Re-Organization Dept.

            P.O. Box 1317

            Brentwood, NY 11717-0718

  PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY.

  SECTION 1 – EXERCISE OF SUBSCRIPTION RIGHTS

  To subscribe for Units pursuant to your Rights,
    please complete lines (a) and (b) and sign in part (c). If you do not indicate the number of Rights being exercised, or if you do not
    forward the full subscription payment for the number of Rights that you indicate are being exercised, then you will be deemed to have
    exercised the maximum number of Rights that may be exercised with the aggregate subscription payment you timely delivered to the Subscription
    Agent. Fractional Units resulting from the exercise of the subscription rights will be eliminated by rounding down to the nearest whole
    number, with the total subscription payment being adjusted accordingly. Any excess subscription payments received by the Subscription
    Agent will be returned, without interest, as soon as practicable. The common stock and warrants comprising the Units will separate upon
    the closing of the rights offering and will be issued separately, however, they may only be purchased as a Unit and the Units will not
    trade as a separate security. Each warrant will be exercisable for one share of Common Stock at an exercise price equivalent to the subscription
    price through its expiration five years from the date of issuance. The number of warrants issued to you will be calculated by rounding
    down to the nearest whole number the number of Units you subscribe for.

  	(a)	EXERCISE OF SUBSCRIPTION RIGHT:

  

  

  	 	(i)	Basic Subscription Rights:

  

  

  	 I exercise	​	 	​	x	​	0.13530032	​	=	​	 	​	x	​	$3.72	​	=	​	$
	 	​	(No. of shares owned)	​	x	​	
          (Initial ratio)

           

           

        	​	=	​	(No. of Basic Subscription Units Subscribed For)	​	x	​	(Initial Price)	​	 	​	(Amount Enclosed)

  

  

  	 	(ii)	Over-Subscription Right: If you fully exercise your Basic Subscription Right, above, and wish to subscribe for additional shares, you
            may exercise your Over-Subscription Right below.

  

  

  	 I exercise	​	 	​	x	​	$3.72	​	=	​	$	 
	 	​	 	​	 	​	 	​	 	​	 	 
	 	​	(No. of Over-Subscription Units Subscribed For)	​	x	​	(Initial Price)	​	=	​	(Amount Enclosed)	 

  

  

  
  
     

    
      
        

    

  

  
  

  

  	(b)	PAYMENT:

  

  

  	 	​	​	Amount Enclosed	​	​	 
	 	 	 	 	 	 	 
	Basic Subscription Right:	​	​	$	​	​	 
	​	 	​
	 	​	​	 	​
	Over-Subscription Right:	​	​	$	​	​	 
	​	 	​
	 	​	​	 	​
	Total Amount Enclosed:	​	​	$	​	​	 
	​	 	​	​	 

  Method of Payment: All payments must be made in U.S. dollars
    by wire transfer of funds, U.S. Postal money order or cashier’s, certified, or uncertified check drawn upon a U.S. bank payable
    to “Broadridge Corporate Issuer Solutions, Inc. (acting as Subscription Agent for Pulse Biosciences Inc.).” The Subscription
    Agent will not accept payment by any other means. Please indicate how you are making payment:

  	 ☐ Check or bank draft drawn on a U.S. bank, or postal or express money order payable to Broadridge Corporate Issuer Solutions, Inc., as Subscription Agent.	 
	 
	 
	 ☐ Wire transfer directly to the escrow account maintained by Broadridge Corporate Issuer Solutions, Inc., as Subscription Agent.	 

  

  

  	(c)	SIGNATURE(S):	 	 

  TO SUBSCRIBE: I acknowledge that I have received
    the Prospectus for the rights offering and I hereby irrevocably subscribe for the number of Units indicated above on the terms and conditions
    specified in the Prospectus. I hereby agree that if I fail to pay for the Units for which I have subscribed, Pulse Biosciences, Inc. may
    exercise its legal remedies against me.

  This form must be signed by the registered holder(s)
    exactly as their name(s) appear(s) on the certificate(s) or book entry or by person(s) authorized to sign on behalf of the registered
    holder(s) by documents transmitted herewith.

  	 	​	 	​	 
	Signature(s) of Subscriber(s)	​	Date	​	Daytime Telephone Number(s)

  If signature is by trustee(s), executor(s), administrator(s),
    guardian(s), attorney(s)-in-fact, agent(s), officer(s) of a corporation, or another acting in a fiduciary or representative capacity,
    please provide the following information (please print). See the instructions.

  	 	​	 	​	 	​	 
	Name(s)	​	Full Title	​	Taxpayer ID # or Social Security #	​	Date

  

  

  
     

  
    
      

  

  
  SECTION 2 – SPECIAL ISSUANCE OR DELIVERY INSTRUCTIONS FOR SUBSCRIPTION RIGHTS HOLDERS

  	
          (a)    To be completed ONLY if the book-entry
              representing the Common Stock is to be issued in a name other than that of the registered holder. (See the Instructions.)

          DO NOT FORGET TO COMPLETE THE GUARANTEE OF SIGNATURE(S) SECTION BELOW.

        	​	​	 	​	​	
          (b)    To be completed ONLY if the book-entry
              representing the Common Stock is to be issued to an address other than that shown on the front of this certificate. (See the Instructions.)

          DO NOT FORGET TO COMPLETE THE GUARANTEE OF SIGNATURE(S) SECTION BELOW.

        

  

  

  	Print Full Name:	​	 	​	Print Full Name:	​	 
	Print Full Address:	​	 	​	Print Full Address:	​	 
	Taxpayer ID # or

            Social Security #:	​	 	​	Taxpayer ID # or

            Social Security #:	​	 

  SIGNATURE GUARANTEE

    This must be completed if you have completed any portion of Section 2.

  	Signature Guaranteed:	​	 	​	 
	 	​	(Name of Bank or Form)	​	 

  	By:	​	 	​	 
	 	​	  (Signature of Officer)	​	 

  

    IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor institution (bank, stock broker, savings & loan association
    or credit union) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule
    17Ad-15.

  FOR INSTRUCTIONS ON THE USE OF NON-TRANSFERABLE
    SUBSCRIPTION RIGHTS CERTIFICATES, CONSULT BROADRIDGE CORPORATE ISSUER SOLUTIONS, INC., THE SUBSCRIPTION AGENT, AT (888) 789-8409 (TOLL-FREE).
    THE RIGHTS OFFERING EXPIRES AT 5:00 P.M., EASTERN TIME, ON MAY 23, 2022, AND THIS NON-TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE
    IS VOID THEREAFTER.

  THE RIGHTS OFFERING HAS BEEN REGISTERED OR QUALIFIED
    OR IS BELIEVED TO BE EXEMPT FROM REGISTRATION OR QUALIFICATION ONLY UNDER THE FEDERAL LAWS OF THE UNITED STATES AND THE LAWS OF STATES
    IN THE UNITED STATES. RESIDENTS OF OTHER JURISDICTIONS MAY NOT PURCHASE THE SECURITIES OFFERED HEREBY UNLESS THEY CERTIFY THAT THEIR PURCHASES
    OF SUCH SECURITIES ARE EFFECTED IN ACCORDANCE WITH THE APPLICABLE LAWS OF SUCH JURISDICTIONS.Exhibit 4.2

   

  

  PULSE BIOSCIENCES, INC.

  Warrant To Purchase Common Stock

  

  

  Warrant Shares: _______

  Initial Exercise Date: _________ ___, 2022

  

  

  THIS WARRANT TO PURCHASE COMMON STOCK (the “Warrant”) certifies that, for value received, _____________ or its assigns (the “Holder”) is
    entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or prior to 5:00 p.m. (Eastern Time) on _____, 2027 1 (the

    “Termination Date”) but not thereafter, to subscribe for and purchase from Pulse Biosciences, Inc., a Delaware corporation (the “Company”), up to ______ shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common
    Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b). This Warrant shall initially be issued and maintained in the form of a security held in book-entry form and the
    Depository Trust Company or its nominee (“DTC”) shall initially be the sole registered holder of this Warrant, subject to Holder’s right to elect to receive a Warrant in certificated form pursuant to the terms of the Warrant Agency Agreement, in
    which case this sentence shall not apply. This Warrant is being issued in connection with the Company’s rights offering, pursuant to its Registration Statement, initiated on or about May 4, 2022 (the “Offering”).

   

  Section 1.     Definitions. In addition to the terms defined elsewhere in this Warrant, the following terms have the meanings indicated in this Section 1:

   

  “Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is
    under common control with a Person, as such terms are used in and construed under Rule 405 under the Securities Act.

   

  “Board of Directors” means the board of directors of the Company and any authorized committee thereof.

   

  “Business Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States, or any
    day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

   

  “Commission” means the U.S. Securities and Exchange Commission.

   

  “Common Stock” means the common stock of the Company, par value $0.001 per share, and any other class of securities into which such
    securities may hereafter be reclassified or changed.

   

  “Common Stock Equivalents” means any securities of the Company or its subsidiaries which would entitle the holder thereof to
    acquire at any time Common Stock, including, without limitation, any debt, preferred stock, right, option, warrant, or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to
    receive, Common Stock.

  

    
    

    

    

    1 Insert the date that is the five-year anniversary of the Initial Exercise Date.

  

  
    
      

  

  
  “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

   

  “Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited
    liability company, joint stock company, government (or an agency or subdivision thereof), or other entity of any kind.

   

  “Registration Statement” means the Company’s Registration Statement on Form S-3, as amended (File No. 333-246346), including the
    prospectus dated August 21, 2020 and the prospectus supplement dated May 4, 2022 included therein and forming a part thereof.

   

  “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

   

  “Trading Day” means a day on which the Common Stock is traded on a Trading Market.

   

  “Trading Market” means any of the following markets or exchanges on which the Common Stock is listed or quoted for trading on the
    date in question: the NYSE American, the Nasdaq Capital Market, the Nasdaq Global Market, the Nasdaq Global Select Market, or the New York Stock Exchange (or any successors to any of the foregoing).

    

  “Transfer Agent” means Broadridge Corporate Issuer Solutions, Inc., the current transfer agent of the Company, with a mailing
    address of Broadridge Corporate Issuer Solutions, Inc. Attn: BCIS Re-Organization Dept., P.O. Box 1317, Brentwood, NY 11717-0718 and a telephone number of 1-888-789-8409, and any successor transfer agent of the Company.

   

  “VWAP” means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is
    then listed or quoted on a Trading Market, the daily volume weighted average price of the Common Stock for such date (or the nearest preceding date) on the Trading Market on which the Common Stock is then listed or quoted as reported by Bloomberg L.P.
    (based on a Trading Day from 9:30 a.m. (Eastern time) to 4:00 p.m. (Eastern time)), (b)  if OTCQB or OTCQX is not a Trading Market, the volume weighted average price of the Common Stock for such date (or the nearest preceding date) on OTCQB or OTCQX as
    applicable, (c) if the Common Stock is not then listed or quoted on a Trading Market and is not then listed or quoted for trading on OTCQB or OTCQX, and if prices for the Common Stock are then reported in the “Pink Sheets” published by OTC Markets
    Group, Inc. (or a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of the Common Stock so reported, or (d) in all other cases, the fair market value of a share of Common Stock as
    determined by an independent appraiser selected in good faith by the holders of a majority in interest of the Warrants then outstanding and reasonably acceptable to the Company, the fees and expenses of which shall be paid by the Company.

   

  “Warrant Agency Agreement” means that certain warrant agency agreement, dated on or about April 25, 2022, between the Company and
    the Warrant Agent.

   

  “Warrant Agent” means Broadridge Corporate Issuer Solutions, Inc. and any successor warrant agent of the Company.

   

  “Warrants” means this Warrant and other Common Stock purchase warrants issued by the Company pursuant to the Registration Statement
    and in connection with the Offering.

  
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  Section 2.     Exercise.

   

  (a)     Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or
    after the Initial Exercise Date and on or before 5:00 p.m. (Eastern time) on the Termination Date by delivery to the Company or the Warrant Agent at its corporate trust department (i) the warrant certificate evidencing the Warrants to be exercised (the
    “Warrant Certificate”), or, in the case of warrants represented by one or more book-entry certificates (each, a “Book-Entry Warrant Certificate”), the Warrants to be exercised (the “Book-Entry Warrants”) shown on the records of the DTC to an account of
    the Warrant Agent at the DTC designated for such purpose in writing by the Warrant Agent to the DTC from time to time, (ii) a facsimile copy or PDF copy submitted by e-mail of the election to purchase the Warrant Shares underlying the Warrants to be
    exercised (the “Notice of Exercise”), properly completed and executed by the registered holder on the reverse of the Warrant Certificate or, in the case of a Book-Entry Warrant Certificate, properly delivered by the institution that has an
    account with the DTC (such institution, with respect to a Warrant in its account, a “Participant”) in accordance with the DTC’s procedures, and (iii) the Exercise Price for each Warrant to be exercised in lawful money of the United States of
    America by certified or official bank check or by bank wire transfer in immediately available funds.

  

  

  If any of (A) the Warrant Certificate or the Book-Entry Warrants, (B) the Notice of Exercise, or (C) the Exercise Price therefor, is received by the Warrant
    Agent after 5:00 p.m., Eastern time, on the specified Exercise Date, the Warrants will be deemed to be received and exercised on the Business Day next succeeding the Exercise Date. If the date specified as the Exercise Date is not a Business Day, the
    Warrants will be deemed to be received and exercised on the next succeeding day that is a Business Day. If the Warrants are received or deemed to be received after the Expiration Date, the exercise thereof will be null and void and any funds delivered
    to the Warrant Agent will be returned to the Holder or Participant, as the case may be, as soon as practicable. In no event will interest accrue on funds deposited with the Warrant Agent in respect of an exercise or attempted exercise of Warrants. The
    validity of any exercise of Warrants will be determined by the Company in its sole discretion and such determination will be final and binding upon the registered holder or Participant, as applicable, and the Warrant Agent. Neither the Company nor the
    Warrant Agent shall have any obligation to inform a registered holder or the Participant, as applicable, of the invalidity of any exercise of Warrants.

  

  

  The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph,
    following the purchase of a portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof.

   

  There is no “cashless” exercise provision for this Warrant. 

  

  

  (b)     Exercise Price. The exercise price per share of Common Stock under this Warrant shall be $_____,
    subject to adjustment hereunder (the “Exercise Price”).

   

  (c)     Mechanics of Exercise.

  

  

  i.        Delivery of Warrant Shares Upon Exercise.  The Warrant Agent shall, by 11:00 a.m., Eastern Time, on the Business Day following the Exercise Date of any Warrant, advise the Company or the Wrrant and registrar
      in respect of (a) the Warrant Shares issuable upon such exercise as to the number of Warrants exercised, (b) the instructions of each Holder or Participant, as the case may be, with respect to delivery of the Warrant Shares issuable upon such
      exercise, and the delivery of definitive Warrant Certificates, as appropriate, evidencing the balance, if any, of the Warrants remaining after such exercise, (c) in case of a Book-Entry Warrant Certificate, the notation that shall be made to the
      records maintained by the DTC, its nominee for each Book-Entry Warrant Certificate, or a Participant, as appropriate, evidencing the balance, if any, of the Warrants remaining after such exercise, and (d) such other information as the Company or such
      transfer agent and registrar shall reasonably require.

  
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  The Company shall, by 5:00 p.m., Eastern Time, on the third Business Day next succeeding the Exercise Date of any Warrant and the
    clearance of the funds in payment of the Exercise Price, execute, issue and deliver to the Warrant Agent, the Warrant Shares to which such registered holder or Participant, as the case may be, is entitled, in fully registered form, registered in such
    name or names as may be directed by such registered holder or the Participant, as the case may be. Upon receipt of such Warrant Shares, the Warrant Agent shall, by 5:00 p.m., Eastern Time, on the fifth Business Day next succeeding such Exercise Date,
    transmit such Warrant Shares to or upon the order of the registered holder or Participant, as the case may be.

  

  

  In lieu of delivering physical certificates representing the Warrant Shares issuable upon exercise, provided the Company’s Transfer Agent
    is participating in the DTC’s Fast Automated Securities Transfer (FAST) program, the Company shall use its reasonable best efforts to cause its Transfer Agent to electronically transmit the Warrant Shares issuable upon exercise to the DTC by crediting
    the account of the DTC holder or of the Participant, as the case may be, through its Deposit or Withdrawal at Custodian (DWAC) system. The time periods for delivery described in the immediately preceding paragraph shall apply to the electronic
    transmittals described herein.

  

  

  Each person in whose name any such certificate for shares of Common Stock is issued shall for all purposes be deemed to have become the
    holder of record of such shares on the date on which the Warrant was surrendered and payment of the Exercise Price was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender and payment is a date when
    the stock transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which the stock transfer books are open.

  

  

  ii.       Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the
    Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the Warrant Shares, deliver to the Holder a new Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares
    called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

   

  iii.      Rescission Rights. If the Company fails to cause its Transfer Agent to transmit to the Holder the
    Warrant Shares pursuant to Section 2(c)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise.

   

  iv.      Compensation for Buy-In on Failure to Timely Deliver Warrant Shares Upon Exercise. In addition to any
    other rights available to the Holder, if the Company fails to cause its Transfer Agent to transmit to the Holder the Warrant Shares in accordance with the provisions of Section 2(c)(i) above pursuant to an exercise on or before the Warrant Share
    Delivery Date, and if after such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the
    Holder of the Warrant Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price (including brokerage
    commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at issue times (2)
    the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such exercise was not honored (in
    which case such exercise shall be deemed rescinded) or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the
    Holder purchases Common Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A)
    of the immediately preceding sentence, the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company,
    evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with
    respect to the Company’s failure to timely deliver shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof.

  
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  v.       No Fractional Shares or Scrip. Warrants may be exercised only in whole numbers of Warrant Shares. No
    fractional Warrant Shares are to be issued upon the exercise of the Warrant, but rather the number of Warrant Shares to be issued shall be rounded down to the nearest whole number. If fewer than all of the Warrants evidenced by a Warrant Certificate
    are exercised, a new Warrant Certificate for the number of unexercised Warrants remaining shall be executed by the Company and countersigned by the Warrant Agent, and delivered to the Holder at the address specified on the books of the Warrant Agent or
    as otherwise specified by such Holder.

  

  

  vi.     Charges, Taxes and Expenses. Issuance of Warrant Shares shall be made without charge to the Holder for
    any issue or transfer tax or other incidental expense in respect of the issuance of such Warrant Shares, all of which taxes and expenses shall be paid by the Company, and such Warrant Shares shall be issued in the name of the Holder or in such name or
    names as may be directed by the Holder; provided, however, that in the event that Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the
    Assignment Form attached hereto duly executed by the Holder and the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. The Company shall pay all Transfer Agent fees
    required for same-day processing of any Notice of Exercise and all fees to the Depository Trust Company (or another established clearing corporation performing similar functions) required for same-day electronic delivery of the Warrant Shares.

    

  vii.     Closing of Books. The Company will not close its stockholder books or records in any manner which
    prevents the timely exercise of this Warrant, pursuant to the terms hereof.

   

  (d)     Right of Redemption. If the VWAP exceeds $[____]2 per share of Common Stock (subject to adjustment for forward and reverse stock
    splits, recapitalizations, stock dividends, and the like after the Initial Exercise Date), for twenty (20) or more consecutive trading days at least three months after the Initial Exercise Date, then the Company may redeem not less than all of the
    outstanding Warrants for which a Notice of Exercise has not yet been delivered (such right, a “Redemption Right”) for consideration equal to $0.01 per Warrant Share (subject to adjustment, the “Redemption Price”). The Company must
    exercise its Redemption Right with respect to all of the outstanding Warrants issued by the Company pursuant to the Registration Statement in the Offering. To exercise its Redemption Right, the Company must deliver to all of the Holders of outstanding
    Warrants an irrevocable written notice (a “Redemption Notice”) indicating therein the Company’s election to redeem all of the outstanding Warrants and setting forth a date for the redemption of such Warrants, which date shall be at least thirty
    (30) days after the date of the Redemption Notice (the “Redemption Date”). The Redemption Notice shall be mailed by first class mail, postage prepaid, by the Company or its Agent to the Holders of the Warrants at their last addresses as they
    shall appear on the Warrant Register. Any Redemption Notice mailed in the manner herein provided shall be conclusively presumed to have been duly given on the date sent, whether or not the Holder received such notice. The Company covenants and agrees
    that it will honor all Notices of Exercise with respect to Warrant Shares subject to a Redemption Notice that are tendered through 6:30 p.m., Eastern time, on the Redemption Date. Following the Redemption Date, the Holders of the Warrants shall have no
    further rights except to receive the Redemption Price upon surrender of the Warrants. Nothing herein requires the Company to exercise its Redemption Right. The Company may exercise its Redemption Right at any time after the three-month anniversary of
    the Initial Exercise Date, subject to the provisions hereof.

   

    
    

    

    

    2 200% of the Exercise Price.

  

  
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  Section 3.     Certain Adjustments.

   

  (a)     Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise makes a
    distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon
    exercise of this Warrant), (ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (iv) issues by
    reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury
    shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event, and the number of shares issuable upon exercise of this Warrant shall be
    proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of stockholders
    entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

   

  (b)     Subsequent Rights Offerings. During such time as this Warrant is outstanding, in addition to any adjustments pursuant to Section 3(a) above,
    if at any time the Company issues or sells any Common Stock Equivalents or rights to purchase stock, warrants, securities, or other property pro rata to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the
    Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of
    this Warrant immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the
    grant, issue or sale of such Purchase Rights.

   

  (c)     Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other
    distribution of its assets (or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property or options by way
    of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement, or other similar transaction) (each a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be
    entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of this Warrant immediately before the date of
    which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution.

  
    6

    
      

  

  (d)     Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related
    transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects any sale, lease, license, assignment, transfer, conveyance, or other disposition of all or substantially all
    of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to
    sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Common Stock, (iv) the Company, directly or indirectly, in one or more related transactions effects any
    reclassification, reorganization or recapitalization of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly
    or indirectly, in one or more related transactions consummates a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off, or scheme of arrangement) with another Person
    or group of Persons whereby such other Person or group acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other Person or other Persons making or party to, or associated or affiliated
    with the other Persons making or party to, such stock or share purchase agreement or other business combination) (each a “Fundamental Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive,
    for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder, the number of shares of Common Stock of the successor or acquiring corporation or
    of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this
    Warrant is exercisable immediately prior to such Fundamental Transaction. For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of
    Alternate Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any
    different components of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall have the same rights as the holders of Common
    Stock as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction other than one in which a Successor Entity
    (as defined below) that is a publicly traded corporation whose stock is quoted or listed on a Trading Market assumes this Warrant such that the Warrant shall be exercisable for the publicly traded common stock of such Successor Entity and only if such
    Fundamental Transaction is within the Company’s control and the consideration is in all stock in the Successor Entity, the Company or any Successor Entity (as defined below), at the Holder’s option, shall purchase this Warrant from the Holder by paying
    to the Holder, at any time concurrently with, or within 30 days after, the consummation of the Fundamental Transaction (or, if later, the date of the public announcement of the applicable Fundamental Transaction), an amount, in the same type or form of
    consideration (and in the same proportion) that is being paid to the holders of Common Stock in connection with the Fundamental Transaction, whether that consideration be in the form of cash, stock, or any combination thereof, or whether holders of
    Common Stock are given the choice to receive from among alternative forms of consideration in connection with the Fundamental Transaction, equal to the Black Scholes Value of the remaining unexercised portion of this Warrant on the date of the
    consummation of such Fundamental Transaction. If the Fundamental Transaction is not within the Company’s control, including not approved by the Company’s Board of Directors, Holder shall have the option to require the Company or any Successor Entity to
    purchase its Warrant for the Black Scholes Value of the unexercised portion of this Warrant as of the date of consummation of such Fundamental Transaction, provided, however, that the Company may elect that the consideration for such
    purchase be (i) in the form of Common Stock of the Company valued at the Black Scholes Value delivered to the Holder immediately prior to the consummation of such Fundamental Transaction such that the Holder will be able to receive the same type of
    consideration described in clause (ii) of this proviso in the Fundamental Transaction or (ii) in using the same type or form of consideration (and in the same proportion) that is being offered and paid to the holders of Common Stock of the Company in
    connection with the Fundamental Transaction, whether that consideration be in the form of cash, stock or any combination thereof, or whether the holders of Common Stock are given the choice to receive from among alternative forms of consideration in
    connection with the Fundamental Transaction. “Black Scholes Value” means the value of this Warrant based on the Black and Scholes Option Pricing Model obtained from the “OV” function on Bloomberg, L.P. (“Bloomberg”) determined as of the
    day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement of the
    applicable Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of 100% and the 100 day volatility obtained from the HVT function on Bloomberg as of the Trading Day immediately following the public
    announcement of the applicable Fundamental Transaction, (C) the underlying price per share used in such calculation shall be the sum of the price per share being offered in cash, if any, plus the value of any non-cash consideration, if any, being
    offered in such Fundamental Transaction and (D) a remaining option time equal to the time between the date of the public announcement of the applicable Fundamental Transaction and the Termination Date. The payment of the Black Scholes Value, if to be
    paid in cash, will be made by wire transfer of immediately available funds within five Business Days of the Holder’s election (or, if later, on the effective date of the Fundamental Transaction). The Company shall cause any successor entity in a
    Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant in accordance with the provisions of this Section 3(d) pursuant to written
    agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, deliver to the Holder in exchange for this
    Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent
    entity) equivalent to the shares of Common Stock acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies
    the exercise price hereunder to such shares of capital stock (but taking into account the relative value of the shares of Common Stock pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of
    capital stock and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction), and which is reasonably satisfactory in form and substance to the
    Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant referring to the “Company”
    shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant with the same effect as if such Successor Entity had been named as the Company
    herein. For the avoidance of doubt, if, at any time while this Warrant is outstanding, a Fundamental Transaction occurs, pursuant to the terms of this Section 3(d), the Holder shall not be entitled to receive more than one of (i) the consideration
    receivable as a result of such Fundamental Transaction by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such Fundamental Transaction, (ii) an amount of cash equal to the Black Scholes Value
    of the remaining unexercised portion of this Warrant as calculated pursuant this Section, or (iii) the assumption by the Successor Entity of all of the obligations of the Company under this Warrant and the other Transaction Documents and the option to
    receive a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant.

  
    7

    
      

  

  (e)     Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be.
    For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum of the number of shares of Common Stock (excluding treasury shares, if any) issued and outstanding.

   

  (f)     Notice to Holder.

   

  i.       Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of
    this Section 3, the Company shall promptly deliver to the Holder by facsimile or email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant Shares and setting forth a brief statement of
    the facts requiring such adjustment.

    

  ii.       Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other
    distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the Common Stock rights or
    warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the Company shall be required in connection with any reclassification of the Common Stock, any consolidation or
    merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Common Stock is converted into other securities, cash or property, or (E) the Company
    shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by facsimile or email to the Holder at its last facsimile number or email
    address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of
    such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Common Stock of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be
    determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Common Stock of record shall be
    entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect
    therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information
    regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on
    the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

  

  

   Section 4.     Transfer of Warrant.

   

  (a)     Transferability. This Warrant and all rights hereunder (including, without limitation, any registration rights) are transferable, in whole or
    in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto 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, as
    applicable, 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.
    Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the
    Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase
    of Warrant Shares without having a new Warrant issued.

  
    8

    
      

  

  (b)    New Warrants. If this Warrant is not held in global form through DTC (or any successor depositary), this Warrant may be divided or combined
    with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to
    compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with
    such notice. All Warrants issued on transfers or exchanges shall be dated the initial issuance date of this Warrant and shall be identical with this Warrant except as to the number of Warrant Shares issuable pursuant thereto.

   

  (c)     Warrant Register. The Warrant Agent shall register this Warrant, upon records to be maintained by the Warrant Agent for that purpose (the “Warrant

      Register”), in the name of the record Holder hereof from time to time. The Company and the Warrant Agent may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any
    distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

  

  

  Section 5.     Miscellaneous.

   

  (a)     No Rights as Stockholder Until Exercise. This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a
    stockholder of the Company prior to the exercise hereof except as expressly set forth in Section 3.

   

  (b)     Loss, Theft, Destruction, or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory
    to it that any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity (including obtaining an open penalty bond protecting the Warrant Agent) or otherwise as they may in their discretion
    impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute a
    substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

   

  (c)     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 not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

   

  (d)     Authorized Shares.

   

  The Company covenants that, during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number
    of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged
    with the duty of issuing the necessary Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein
    without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights
    represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant Shares in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes,
    liens and charges created by the Company in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).

  
    9

    
      

  

  Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its
    certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of
    this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment.
    Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as
    may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations,
    exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

   

  Before taking any action which would result in an adjustment in the number of Warrant Shares for which this Warrant is exercisable or in the Exercise Price,
    the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

   

  (e)    Governing Law. All questions concerning the construction, validity, enforcement, and interpretation of this Warrant shall be governed by and
    construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations, enforcement and defense of
    the transactions contemplated by this Warrant (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees, or agents) shall be commenced exclusively in the state and federal
    courts sitting in the City of New York. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in
    connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such
    court, that such suit, action or proceeding is improper or is an inconvenient venue for such proceeding. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by
    mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Warrant and agrees that such service shall constitute good and sufficient
    service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. If either party shall commence an action, suit or proceeding to enforce any provisions
    of this Warrant or otherwise adjudicate any claim or claims arising out of this Warrant, the non-prevailing party in such action, suit or proceeding shall pay, in addition to all other remedies to which the prevailing party may be entitled, the costs
    and expenses incurred by the prevailing party in connection with the investigation, preparation and prosecution of such action, suit or proceeding, including the prevailing party’s reasonable attorneys’ fees.

   

  (f)     Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have
    restrictions upon resale imposed by state and federal securities laws.

   

  (g)    Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of either party hereto shall
    operate as a waiver of such right or otherwise prejudice such party’s rights, powers or remedies. Without limiting any other provision of this Warrant, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which
    results in any material damage to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings,
    incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

  
    10

    
      

  

  (h)     Notices. Any and all notices or other communications or deliveries to be provided by the Holders hereunder including, without limitation, any
    Notice of Exercise, shall be in writing and delivered personally, by facsimile or e-mail, or sent by a nationally recognized overnight courier service, addressed to each of (1) the Company, at 3957 Point Eden Way, Hayward, California 94545, Attention:
    Sandra A. Gardiner, email address: Sandra.gardiner@pulsebiosciences.com or to any such address the Company may specify for such purposes by notice to the Holders, and (2) the Warrant Agent, at Broadridge Corporate Issuer Solutions, Inc., 51 Mercedes
    Way, Edgewood, NY 11717, Attn: Corporate Actions Department. Any and all notices or other communications or deliveries to be provided by the Company hereunder shall be in writing and delivered personally, by e-mail, or sent by a nationally recognized
    overnight courier service addressed to each Holder at the e-mail address or address of such Holder appearing on the books of the Company. Any notice or other communication or deliveries hereunder shall be deemed given and effective on the earliest of
    (i) the time of transmission, if such notice or communication is delivered via e-mail at the e-mail address set forth in this Section prior to 5:30 p.m. (Eastern time) on any date, (ii) the next Trading Day after the time of transmission, if such
    notice or communication is delivered via e-mail at the e-mail address set forth in this Section on a day that is not a Trading Day or later than 5:30 p.m. (Eastern time) on any Trading Day, (iii) the second Trading Day following the date of mailing, if
    sent by U.S. nationally recognized overnight courier service or (iv) upon actual receipt by the party to whom such notice is required to be given. To the extent that any notice provided hereunder constitutes, or contains, material, non-public
    information regarding the Company or any subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Current Report on Form 8-K.

   

  (i)      Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase
    Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the
    Company or by creditors of the Company.

   

  (j)     Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to
    specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to
    assert the defense in any action for specific performance that a remedy at law would be adequate.

   

  (k)     Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the
    benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and
    shall be enforceable by the Holder or holder of Warrant Shares.

   

  (l)     Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company, on the one hand,
    and the Holder or the beneficial owner of this Warrant, on the other hand.

   

  (m)   Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under
    applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or
    the remaining provisions of this Warrant.

   

  (n)     Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this
    Warrant.

   

  (o)    Warrant Agency Agreement. If this Warrant is held in global form through DTC (or any successor depositary), this Warrant is issued subject to
    the Warrant Agency Agreement. To the extent any provision of this Warrant conflicts with the express provisions of the Warrant Agency Agreement, the provisions of this Warrant shall govern and be controlling.

   

  ********************

   

  (Signature Page Follows)

  
    11

    
      

  

  IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above
    indicated.

   

  	 	
          PULSE BIOSCIENCES, INC.

        
	 	 
	 	
          By:

        	
           

        
	 	
           

        	
          Sandra A. Gardiner

        
	 	
           

        	
          Chief Financial Officer, Executive Vice President of Finance and Administration, and Treasurer

        

  
    12

    
      

  

  NOTICE OF EXERCISE

   

  TO:  

  

  

  Pulse Biosciences, Inc.

    3957 Point Eden Way

  Hayward, CA 94545, Attention: Sandra A. Gardiner

  Email address: Sandra.gardiner@pulsebiosciences.com

  

  

  Broadridge Corporate Issuer Solutions, Inc.

  51 Mercedes Way

  Edgewood, NY 11717

  Attn: Corporate Actions Department

   

  (1)     The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of the attached Warrant
    (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any. Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the
    Warrant.

   

  (2)     Payment shall take the form of lawful money of the United States (Cash Exercise).

   

   

  (3)     Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

   

  _______________________________

   

  The Warrant Shares shall be delivered to the following DWAC Account Number:

   

  _______________________________

   

  _______________________________

   

  _______________________________

   

  [SIGNATURE OF HOLDER]

  

  

  	
          Name of Investing Entity:

        	
          _____________________________________

        
	
          Signature of Authorized Signatory of Investing Entity:

        	
          _____________________________________

        
	
          Name of Authorized Signatory:

        	
          _____________________________________

        
	
          Title of Authorized Signatory:

        	
          _____________________________________

        
	
          Date:

        	
          _____________________________________

        

  
    13

    
      

  

  ASSIGNMENT FORM

  

  

  

  

  (To assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

   

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

   

  	
          Name:

        	
          ______________________________________

        
	
           

        	
          (Please Print)

        
	
           

        	
           

        
	
          Address:

        	
          ______________________________________

        
	
           

        	
          (Please Print)

        
	
           

          Phone Number:

           

          Email Address:

        	
           

          ______________________________________

           

          ______________________________________

        
	
           

        	
           

        
	
          Dated: _______________ __, ______

        	
           

        
	
           

        	
           

        
	
          Holder’s Signature:_______________________________

        	
           

        
	
           

        	
           

        
	
          Holder’s Address:_______________________________

        	
           

        

   

   

   
  14

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