Document:

Unassociated Document

    Exhibit
No. 4.3

    

    Warrant
Certificate No. ___

    

    NEITHER
THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES ISSUABLE UPON
THE EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES LAWS, AND
NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, ASSIGNED
OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT
THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE
SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE
COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH
COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE
OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED
WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR
APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING TRANSACTIONS
INVOLVING THE SECURITIES REPRESENTED HEREBY AND THE SECURITIES ISSUABLE UPON
EXERCISE THEREOF MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES
ACT.

    

    
      
        	
                Effective
      Date:  __________, 2008

              	
                Void
      After:  __________,
2010

              

      

    

    

    CROWNBUTTE
WIND POWER, INC.

    

    WARRANT
TO PURCHASE

    SHARES
OF COMMON STOCK

    

    Crownbutte
Wind Power, Inc., a corporation organized under the laws of the State of Nevada
(the “Company”), for
value received on __________, 2008 (the “Effective Date”), hereby
issues to ____________________ (the “Holder”) this warrant (the
“Warrant”) to purchase
__________ shares of the Company’s common stock, par value $0.001 per share
(“Common Stock”), at the
Exercise Price (as defined below), as adjusted from time to time as provided
herein, on or before __________, 2010 (the “Expiration Date”), all subject
to the following terms and conditions.  The Warrant Shares (as defined
below) issued upon exercise of this Warrant shall be subject to the provisions
of the Company’s Amended and Restated Articles of Incorporation, a copy of which
will be furnished to the holder hereof upon written request and without
charge.

    

    Unless
otherwise defined in this Warrant, terms appearing in initial capitalized form
shall have the meaning ascribed to them in that certain Subscription Agreement
between the Company and the purchaser signatory thereto pursuant to which this
Warrant was issued (the “Subscription
Agreement”).

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

    As used
in this Warrant, (i) “Business
Day” means any day other than Saturday, Sunday or any other day on which
commercial banks in the City of New York, New York, are authorized or required
by law or executive order to close; (ii) “Exercise Price” means $2.50
per share of Common Stock, subject to adjustment as provided herein; and (iii)
“Warrant Shares” means
shares of Common Stock in the Company, including any securities issued or
issuable with respect thereto or into which or for which such interest may be
exchanged for, or converted into, pursuant to any stock split, stock dividend,
recapitalization, reclassification, reorganization or other similar
event.

    

    1.           DURATION
AND EXERCISE OF WARRANT

    

    (a)          Exercise
Period.  The Holder may exercise this Warrant at any time and
from time to time, in whole or in part, on any Business Day on or before 5:00
P.M., Eastern Time, on the Expiration Date, subject to the provisions of Section
9 hereof.  If this Warrant is not exercised on or prior to the
Expiration Date, it shall become void and of no value, and all rights hereunder
shall thereupon cease.

    

    (b)         Exercise
Procedures.

    

    (i)          While
this Warrant remains outstanding and exercisable in accordance with Section
1(a), the Holder may exercise this Warrant, in whole or in part, as
follows:

    

    (A)           By
presentation and surrender of this Warrant to the Company at its principal
offices or at such other office or agency as the Company may specify in writing
to the Holder, with a duly executed copy of the Notice of Exercise attached as
Exhibit A;
and

    

    (C)           Payment
of the then-applicable Exercise Price per share multiplied by the number of
Warrant Shares being purchased upon exercise of the Warrant (such amount, the
“Aggregate Exercise
Price”) made in the form of cash, or by certified check, bank draft or
money order payable in lawful money of the United States of America or in the
form of a Cashless Exercise (as defined below) to the extent permitted in
Section 1(b)(ii) below.

    

    (ii)         At
any time when a registration statement covering the resale of the Warrant Shares
by the Holder is not available after the first anniversary of the Effective
Date, the Holder may, in its sole discretion, exercise all or any part of the
Warrant in a “cashless” or “net-issue” exercise (a “Cashless Exercise”) by
delivering to the Company (1) the Notice of Exercise and (2) the original
Warrant, pursuant to which the Holder shall surrender the right to receive upon
exercise of this Warrant, a number of Warrant Shares having a fair market value
(as defined in Section 9(a)) equal to the Aggregate Exercise Price, in which
case, the number of Warrant Shares to be issued to the Holder upon such exercise
shall be calculated using the following formula:

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    X           =           Y * (A -
B)

      
   A

    

    
      	
            	
              with: 

            	
               
      X =        the number of Warrant Shares
      to be issued to the Holder

            

    

    

    
      	
               
      

            	
              Y
      =

            	
              the
      number of Warrant Shares with respect to which the Warrant is being
      exercised

            

    

    

    
      	
               
      

            	
              A
      =

            	
              the
      fair market value per share of Common Stock on the date of exercise of the
      Warrant

            

    

    

    
      	
               
      

            	
              B
      =

            	
              the
      then-current Exercise Price of the
Warrant

            

    

    

    Notwithstanding
the foregoing provisions of this Section 1(b)(ii), the Holder may not make a
Cashless Exercise if and to the extent that such exercise would require the
Company to issue a number of shares of Common Stock in excess of its authorized
but unissued shares of Common Stock, less all amounts of Common Stock that have
been reserved for issuance upon the conversion of all outstanding securities
convertible into shares of Common Stock and the exercise of all outstanding
options, warrants and other rights exercisable for shares of Common
Stock.  If the Company does not have the requisite number of
authorized but unissued shares of Common Stock to permit the Holder to make a
Cashless Exercise, the Company shall use commercially reasonable efforts to
obtain the necessary shareholder consent to increase the authorized number of
shares of Common Stock to permit such Holder to make a Cashless Exercise
pursuant to this Section 1(b)(ii).

    

    (iii)         Upon
the exercise of this Warrant in compliance with the provisions of this Section
1(b), and except as limited pursuant to the last paragraph of Section 1(b)(ii),
the Company shall promptly issue and cause to be delivered to the Holder a
certificate for the total number of shares of Common Stock for which this
Warrant is being exercised.  Each exercise of this Warrant shall be
effective immediately prior to the close of business on the date that the
Company has received each of the Notice of Exercise and the Aggregate Exercise
Price (or notice of a Cashless Exercise in accordance with Section 1(b)(ii))
(the “Exercise Delivery
Documents”).  Upon delivery of the Exercise Delivery Documents,
the Holder shall be deemed for all corporate purposes to have become the holder
of record of the shares of Common Stock issuable upon such exercise,
irrespective of the date of delivery of the certificates evidencing such
shares.

    

    (c)          Partial
Exercise.  This Warrant shall be exercisable, either in its
entirety or, from time to time, for part only of the number of Warrant Shares
referenced by this Warrant. If this Warrant is exercised in part, the Company
shall issue, at its expense, a new Warrant, in substantially the form of this
Warrant, referencing such reduced number of Warrant Shares that remain subject
to this Warrant.

    

    (d)          Disputes.  In
the case of a dispute as to the determination of the Exercise Price or the
arithmetic calculation of the Warrant Shares, the Company shall promptly issue
to the Holder the number of Warrant Shares that are not disputed and resolve
such dispute in accordance with Section 15.

    
      
         

      

      
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    2.           ISSUANCE
OF WARRANT SHARES

    

    (a)          The
Company covenants that all Warrant Shares will, upon issuance in accordance with
the terms of this Warrant, be (i) duly authorized, fully paid and
non-assessable, and (ii) free from all liens, charges and security interests,
with the exception of claims arising through the acts or omissions of the Holder
and except as arising from applicable federal and state securities
laws.

    

    (b)          The
Company shall register this Warrant upon records to be maintained by the Company
for that purpose in the name of the record holder of such Warrant from time to
time. The Company may deem and treat the registered Holder of this Warrant as
the absolute owner thereof for the purpose of any exercise thereof, any
distribution to the Holder thereof and for all other purposes.

    

    (c)          The
Company will not, by amendment of its articles of incorporation or through any
reorganization, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other voluntary action, avoid or seek to avoid the
observance or performance of any of the terms to be observed or performed
hereunder by the Company, but will at all times in good faith assist in the
carrying out of all the provisions of this Warrant and in the taking of all
action necessary or appropriate in order to protect the rights of the Holder to
exercise this Warrant, or against impairment of such rights.

    

    
      	
              3.

            	
              ADJUSTMENTS
      OF EXERCISE PRICE, NUMBER AND TYPE OF WARRANT
  SHARES

            

    

    

    (a)          The
Exercise Price and the number of shares purchasable upon the exercise of this
Warrant shall be subject to adjustment from time to time upon the occurrence of
certain events described in this Section 3(a); provided, that
notwithstanding the provisions of this Section 3(a), the Company shall not be
required to make any adjustment if and to the extent that such adjustment would
require the Company to issue a number of shares of Common Stock in excess of its
authorized but unissued shares of Common Stock, less all shares of Common Stock
that have been reserved for issuance upon the conversion of all outstanding
securities convertible into shares of Common Stock and the exercise of all
outstanding options, warrants and other rights exercisable for shares of Common
Stock.  If the Company does not have the requisite number of
authorized but unissued shares of Common Stock to make any adjustment, the
Company shall use its commercially reasonable efforts to obtain the necessary
shareholder consent to increase the authorized number of shares of Common Stock
to make such an adjustment pursuant to this Section 3(a).

    
      
         

      

      
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    (i)          Subdivision or Combination
of Stock.  If the Company at any time after the date of
issuance of this Warrant subdivides (by any stock split, stock dividend,
recapitalization or otherwise) its outstanding shares of Common Stock into a
greater number of shares, the Exercise Price in effect immediately prior to such
subdivision shall be proportionately reduced and the number of Warrant Shares
shall be proportionately increased.  If the Company at any time after
the date of issuance of this Warrant combines (by combination, reverse stock
split or otherwise) its outstanding shares of Common Stock into a smaller number
of shares, the Exercise Price in effect immediately prior to such combination
will be proportionately increased and the number of Warrant Shares shall be
proportionately decreased.  Any adjustment under this Section 3(a)(i)
shall become effective at the close of business on the date the subdivision or
combination becomes effective.  The Exercise Price and the Warrant
Shares, as so adjusted, shall be readjusted in the same manner upon the
happening of any successive event or events described in this Section
3(a)(i).

    

    (ii)          Distribution of
Assets.  If the Company shall declare or make any dividend or
other distribution of its assets (or rights to acquire its assets) to holders 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 or other similar transaction) (a “Distribution”), at any time
after the issuance of this Warrant, then, in each such case the Exercise Price
and the number of Warrant Shares in effect immediately prior to the close of
business on the record date fixed for the determination of holders of Common
Stock entitled to receive the Distribution shall be adjusted proportionately,
and the Holder hereof shall, upon the exercise of this Warrant, be entitled to
receive, in addition to the number of shares of Common Stock receivable
thereupon, and without payment of any additional consideration therefor, the
amount of assets that such Holder would hold on the date of such exercise had
such Holder been the holder of record of such Common Stock as of such record
date.  The Exercise Price and the Warrant Shares, as so adjusted,
shall be readjusted in the same manner upon the happening of any successive
event or events described in this Section 3(a)(ii).

    

    (iii)         Reorganization,
Consolidation, Merger or Sale.  If any recapitalization,
reclassification or reorganization of the capital stock of the Company, or any
consolidation or merger of the Company with another corporation, or the sale of
all or substantially all of its assets or other transaction shall be effected in
such a way that holders of Common Stock shall be entitled to receive stock,
securities, or other assets or property (an “Organic Change”), then, as a
condition of such Organic Change, lawful and adequate provisions shall be made
by the Company whereby the Holder hereof shall thereafter have the right to
purchase and receive (in lieu of the shares of Common Stock of the Company
immediately theretofore purchasable and receivable upon the exercise of the
rights represented by this Warrant) such shares of stock, securities or other
assets or property as may be issued or payable with respect to or in exchange
for a number of outstanding shares of such Common Stock equal to the number of
shares of such Common Stock immediately theretofore purchasable and receivable
assuming the full exercise of the rights represented by this Warrant. In the
event of any Organic Change, appropriate provision shall be made by the Company
with respect to the rights and interests of the Holder of this Warrant to the
end that the provisions hereof (including, without limitation, provisions for
adjustments of the Exercise Price and of the number of shares purchasable and
receivable upon the exercise of this Warrant) shall thereafter be applicable, in
relation to any shares of stock, securities or other assets or property
thereafter deliverable upon the exercise hereof. The Company will not effect any
such consolidation, merger or sale unless, prior to the consummation thereof,
the successor corporation (if other than the Company) resulting from such
consolidation or merger or the corporation purchasing such assets shall assume
by written instrument reasonably satisfactory in form and substance to the
Holder executed and mailed or delivered to the registered Holder hereof at the
last address of such Holder appearing on the books of the Company, the
obligation to deliver to such Holder such shares of stock, securities or other
assets or property as, in accordance with the foregoing provisions, such Holder
may be entitled to purchase. If there is an Organic Change, then the Company shall
cause to be mailed to the Holder at its last address as it shall appear on the
books and records of the Company, at least 10 calendar days before the effective
date of the Organic Change, a notice stating the date on which such Organic
Change is expected to become effective or close, and the date as of which it is
expected that holders of Common
Stock of record shall be entitled to
exchange their shares for
such shares of stock, securities or other
assets or property delivered upon such
Organic Change; provided, that the failure to mail such notice or any defect
therein or in the mailing thereof shall not affect the validity of the corporate
action required to be specified in such notice.  The Holder is
entitled to exercise this Warrant during the 10-day period commencing on the
date of such notice to the effective date of the event triggering such
notice.  In any event, the successor corporation (if other than
the Company) resulting from such consolidation or merger or the corporation
purchasing such assets shall be deemed to assume such obligation to deliver to
such Holder such shares of stock, securities or other assets or property even in
the absence of a written instrument assuming such obligation to the extent such
assumption occurs by operation of law.

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    (b)          Certificate as to
Adjustments.  Upon the occurrence of each adjustment or
readjustment pursuant to this Section 3, the Company at its expense shall
promptly compute such adjustment or readjustment in accordance with the terms
hereof and furnish to each Holder of this Warrant a certificate setting forth
such adjustment or readjustment and showing in detail the facts upon which such
adjustment or readjustment is based.  The Company shall promptly
furnish or cause to be furnished to such Holder a like certificate setting
forth: (i) such adjustments and readjustments; and (ii) the number of shares and
the amount, if any, of other property which at the time would be received upon
the exercise of the Warrant.

    

    (c)          Certain
Events.  If any event occurs as to which the other provisions
of this Section 3 are not strictly applicable but the lack of any adjustment
would not fairly protect the purchase rights of the Holder under this Warrant in
accordance with the basic intent and principles of such provisions, or if
strictly applicable would not fairly protect the purchase rights of the Holder
under this Warrant in accordance with the basic intent and principles of such
provisions, then the Company’s Board of Directors will, in good faith, make an
appropriate adjustment to protect the rights of the Holder; provided, that no
such adjustment pursuant to this Section 3(c) will increase the Exercise Price
or decrease the number of Warrant Shares as otherwise determined pursuant to
this Section 3.

    

    4.           TRANSFERS
AND EXCHANGES OF WARRANT AND WARRANT SHARES

    

    (a)          Registration of Transfers
and Exchanges.  Subject to Section 4(c), upon the Holder’s
surrender of this Warrant, with a duly executed copy of the Form of Assignment
attached as Exhibit B,
to the Secretary of the Company at its principal offices or at such other office
or agency as the Company may specify in writing to the Holder, the Company shall
register the transfer of all or any portion of this Warrant.  Upon
such registration of transfer, the Company shall issue a new Warrant, in
substantially the form of this Warrant, evidencing the acquisition rights
transferred to the transferee and a new Warrant, in similar form, evidencing the
remaining acquisition rights not transferred, to the Holder requesting the
transfer.

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    (b)          Warrant Exchangeable for
Different Denominations.  The Holder may exchange this Warrant
for a new Warrant or Warrants, in substantially the form of this Warrant,
evidencing in the aggregate the right to purchase the number of Warrant Shares
which may then be purchased hereunder, each of such new Warrants to be dated the
date of such exchange and to represent the right to purchase such number of
Warrant Shares as shall be designated by the Holder.  The Holder shall
surrender this Warrant with duly executed instructions regarding such
re-certification of this Warrant to the Secretary of the Company at its
principal offices or at such other office or agency as the Company may specify
in writing to the Holder.

    

    (c)          Restrictions on
Transfers.  This Warrant may not be transferred at any time
without (i) registration under the Securities Act or (ii) an exemption from such
registration and a written opinion of legal counsel addressed to the Company
that the proposed transfer of the Warrant may be effected without registration
under the Securities Act, which opinion will be in form and from counsel
reasonably satisfactory to the Company.

    

    (d)          Permitted Transfers and
Assignments.  Notwithstanding any provision to the contrary in
this Section 4, the Holder may transfer, with or without consideration, this
Warrant or any of the Warrant Shares (or a portion thereof) to the Holder’s
affiliates (as such term is defined under Rule 144 of the Securities Act)
without obtaining the opinion from counsel that may be required by Section
4(c)(ii); provided that, the
Holder delivers to the Company and its counsel certification, documentation and
other assurances reasonably required by the Company’s counsel to enable the
Company’s counsel to render an opinion that such transfer does not violate
applicable securities laws.

    

    5.           MUTILATED
OR MISSING WARRANT CERTIFICATE

    

    If this
Warrant is mutilated, lost, stolen or destroyed, upon request by the Holder, the
Company will, at its expense, issue, in exchange for and upon cancellation of
the mutilated Warrant, or in substitution for the lost, stolen or destroyed
Warrant, a new Warrant, in substantially the form of this Warrant, representing
the right to acquire the equivalent number of Warrant Shares; provided that, as a
prerequisite to the issuance of a substitute Warrant, the Company may require
satisfactory evidence of loss, theft or destruction as well as an indemnity from
the Holder of a lost, stolen or destroyed Warrant.

    

    6.           PAYMENT
OF TAXES

    

    The
Company will pay all transfer and stock issuance taxes attributable to the
preparation, issuance and delivery of this Warrant and the Warrant Shares (and
replacement Warrants) including, without limitation, all documentary and stamp
taxes; provided, however, that the
Company shall not be required to pay any tax in respect of the transfer of this
Warrant, or the issuance or delivery of certificates for Warrant Shares or other
securities in respect of the Warrant Shares to any person or entity other than
to the Holder.

    
      
         

      

      
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    7.           FRACTIONAL
WARRANT SHARES

    

    No
fractional Warrant Shares shall be issued upon exercise of this Warrant. The
Company, in lieu of issuing any fractional Warrant Share, shall round up the
number of Warrant Shares issuable to nearest whole share. The Company shall not
be required to make any cash or other adjustment in respect of such fraction of
a share to which the Holder would otherwise be entitled.

    

    8.           NO
EQUITY INTEREST RIGHTS AND LEGEND

    

    No holder
of this Warrant, as such, shall be entitled to vote or be deemed the holder of
any other securities of the Company that may at any time be issuable on the
exercise hereof, nor shall anything contained herein be construed to confer upon
the holder of this Warrant, as such, the rights of a shareholder of the Company
or the right to vote for the election of directors or upon any matter submitted
to shareholders at any meeting thereof, or give or withhold consent to any
corporate action or to receive notice of meetings or other actions affecting
shareholders (except as provided herein), or to receive dividends or
subscription rights or otherwise (except as provide herein).

    

    Each
certificate for Warrant Shares initially issued upon the exercise of this
Warrant, and each certificate for Warrant Shares issued to any subsequent
transferee of any such certificate, shall be stamped or otherwise imprinted with
a legend in substantially the following form:

    

    “THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE
OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A
REGISTRATION STATEMENT WITH  RESPECT THERETO IS EFFECTIVE UNDER THE
SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR (2) AN EXEMPTION
FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO
THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE REASONABLY
SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED,
ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES
LAWS.”

    
      
         

      

      
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    9.           CALL
OF WARRANT

    

    (a)          Procedures. The
Company may at any time, subject to the conditions set forth herein, call for
the exercise of this Warrant (the “Call Notice”) if the fair
market value of the Common Stock for the twenty (20) consecutive trading days
ending three (3) days prior to the date of the Call Notice is at least $3.50,
subject to adjustment for stock dividends, stock splits and other anti-dilution
provisions as provided for in Section 3 of this Warrant. For purposes of this
Section 9(a), “fair market
value” at any date shall be deemed to be, as applicable: (i) the last
sale price regular way as reported on the principal national securities exchange
on which the Common Stock is listed or admitted to trading; or (ii) if the
Common Stock is not listed or admitted to trading on any national securities
exchange, the average of the closing bid and asked prices regular way for the
Common Stock as reported by the Nasdaq National Market or Nasdaq SmallCap Market
of the Nasdaq Stock Market, Inc. (“Nasdaq”); or (iii) if the
Common Stock is not listed or admitted for trading on any national securities
exchange, and is not reported by Nasdaq, the average of the closing bid and
asked prices, as reported on the OTC Bulletin Board or if no such quotation is
available, then the closing bid and asked prices in the over-the-counter market
as furnished by the National Quotation Bureau, Inc; or (iv) if the Common Stock
is not listed or admitted for trading on any national securities exchange, is
not reported by Nasdaq, no quotation is available on the OTC Bulletin Board and
no closing and asked prices are available from National Quotation Bureau, Inc.,
then the value determined by an independent, qualified appraiser selected by the
Company in good faith. The Call Notice shall be deemed effective upon mailing
and the time of mailing is the “Effective Date of the Notice.”
The Call Notice shall state the exercise period and cancellation date not less
than thirty (30) days from the Effective Date of the Notice (the “Cancellation Date”). In the
event the number of shares of Common Stock issuable upon exercise of this
Warrant being called are adjusted pursuant to Section 3 hereof, then upon each
such adjustment the Exercise Price will be adjusted by multiplying the Exercise
Price in effect immediately prior to such adjustment by a fraction, the
numerator of which is the number of shares of Common Stock issuable upon
exercise of this Warrant being exercised immediately prior to such adjustment
and the denominator of which is the number of shares of Common Stock issuable
upon exercise of this Warrant being exercised immediately after such adjustment.
The Holder may exercise this Warrant between the Effective Date of the Notice
and the Cancellation Date, such exercise being effective if done in accordance
with Section 1 hereof, and if this Warrant, with the form of election to
purchase duly executed, and the Exercise Price are actually received by the
Company at its office located at 111 Fifth Avenue Northeast, Mandan,
ND  58554, no later than 5:00 PM Eastern Standard time on or prior to
the Cancellation Date.

     

    (b)          Return of
Warrant.
If the Holder does not wish to exercise this Warrant, the Holder should mail
this Warrant to the Company at its office located at 111 Fifth Avenue Northeast,
Mandan, ND  58554 after receiving the Call Notice required by this
Section. If the Call Notice shall have been so mailed, then, on and after such
Cancellation Date, notwithstanding that this Warrant subject to the Call Notice
shall not have been surrendered for redemption, the obligation evidenced by this
Warrant not so surrendered or effectively exercised shall be deemed no longer
outstanding, and all rights with respect hereto shall forthwith cease and
terminate.

    
      
         

      

      
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    10.         NOTICES

    

    All
notices, consents, waivers and other communications under this Warrant must be
in writing and will be deemed given to a party when (a) delivered to the
appropriate address by hand or by nationally recognized overnight courier
service (costs prepaid); (b) sent by facsimile or e-mail with confirmation of
transmission by the transmitting equipment; (c) received or rejected by the
addressee, if sent by certified mail, return receipt requested, if to the
registered Holder hereof; or (d) seven days after the placement of the notice
into the mails (first class postage prepaid), to the Holder at the address,
facsimile number or e-mail address furnished by the registered Holder to the
Company in accordance with the Subscription Agreement, or if to the Company, to
it at 111 Fifth Avenue Northeast, Mandan, ND  58554, Attention:
Timothy H. Simons, Chief Executive Officer, Facsimile: (701) 667-2083 (or to
such other address, facsimile number or e-mail address as the Holder or the
Company as a party may designate by notice the other party) with a copy to
Gottbetter & Partners, LLP, 488 Madison Avenue, New York,
NY  10022, Attention: Adam S. Gottbetter, Esq.

    

    11.         SEVERABILITY

    

    If a
court of competent jurisdiction holds any provision of this Warrant invalid or
unenforceable, the other provisions of this Warrant will remain in full force
and effect. Any provision of this Warrant held invalid or unenforceable only in
part or degree will remain in full force and effect to the extent not held
invalid or unenforceable.

    

    12.         BINDING
EFFECT

    

    This
Warrant shall be binding upon and inure to the sole and exclusive benefit of the
Company, its successors and assigns, the registered Holder or Holders from time
to time of this Warrant and the Warrant Shares.

    

    13.         SURVIVAL
OF RIGHTS AND DUTIES

    

    This
Warrant shall terminate and be of no further force and effect on the earlier of
5:00 P.M., Eastern Time, on the Expiration Date or the date on which this
Warrant has been exercised in full, or as provided in Section 9
hereof.

    

    14.         GOVERNING
LAW

    

    This
Warrant will be governed by and construed under the laws of the State of New
York without regard to conflicts of laws principles that would require the
application of any other law.

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    15.         DISPUTE
RESOLUTION

    

    In the
case of a dispute as to the determination of the Exercise Price or the
arithmetic calculation of the Warrant Shares, the Company shall submit the
disputed determinations or arithmetic calculations via facsimile within two
Business Days of receipt of the Notice of Exercise giving rise to such dispute,
as the case may be, to the Holder.  If the Holder and the Company are
unable to agree upon such determination or calculation of the Exercise Price or
the Warrant Shares within three Business Days of such disputed determination or
arithmetic calculation being submitted to the Holder, then the Company shall,
within two Business Days, submit via facsimile (a) the disputed determination of
the Exercise Price to an independent, reputable investment bank selected by the
Company and approved by the Holder or (b) the disputed arithmetic calculation of
the Warrant Shares to the Company’s independent, outside
accountant.  The Company shall cause at its expense the investment
bank or the accountant, as the case may be, to perform the determinations or
calculations and notify the Company and the Holder of the results no later than
ten Business Days from the time it receives the disputed determinations or
calculations.  Such investment bank’s or accountant’s determination or
calculation, as the case may be, shall be binding upon all parties absent
demonstrable error.

    

    16.         NOTICES
OF RECORD DATE

    

    Upon (a)
any establishment by the Company of a record date of the holders of any class of
securities for the purpose of determining the holders thereof who are entitled
to receive any dividend or other distribution, or right or option to acquire
securities of the Company, or any other right, or (b) any capital
reorganization, reclassification, recapitalization, merger or consolidation of
the Company with or into any other corporation, any transfer of all or
substantially all the assets of the Company, or any voluntary or involuntary
dissolution, liquidation or winding up of the Company, or the sale, in a single
transaction, of a majority of the Company’s voting equity securities (whether
newly issued, or from treasury, or previously issued and then outstanding, or
any combination thereof), the Company shall mail to the Holder at least ten
Business Days, or such longer period as may be required by law, prior to the
record date specified therein, a notice specifying (i) the date established as
the record date for the purpose of such dividend, distribution, option or right
and a description of such dividend, option or right, (ii) the date on which any
such reorganization, reclassification, transfer, consolidation, merger,
dissolution, liquidation or winding up, or sale is expected to become effective
and (iii) the date, if any, fixed as to when the holders of record
of  Common Stock shall be entitled to exchange their shares of Common
Stock for securities or other property deliverable upon such reorganization,
reclassification, transfer, consolation, merger, dissolution, liquidation or
winding up.

    

    17.         RESERVATION
OF SHARES

    

    The
Company shall reserve and keep available out of its authorized but unissued
shares of Common Stock for issuance upon the exercise of this Warrant, free from
pre-emptive rights, such number of shares of Common Stock for which this Warrant
shall from time to time be exercisable.  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.  Without limiting the generality of the foregoing, the
Company covenants that it will use commercially reasonable efforts to 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 use commercially reasonable efforts to obtain all
such authorizations, exemptions or consents, including but not limited to
consents from the Company’s shareholders or Board of Directors or any public
regulatory body, as may be necessary to enable the Company to perform its
obligations under this Warrant.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    18.         NO
THIRD PARTY RIGHTS

    

    This
Warrant is not intended, and will not be construed, to create any rights in any
parties other than the Company and the Holder, and no person or entity may
assert any rights as third-party beneficiary hereunder.

    

    [SIGNATURE
PAGE FOLLOWS]

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

     

     

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

    

    
      
        	
                CROWNBUTTE
      WIND POWER INC.

              
	 
      	 
      
	
                By:

              	 
      
	
                Name:

              	
                Timothy
      H. Simons

              
	
                Title:

              	
                Chief
      Executive Officer

              

      

    

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    
       

    

    EXHIBIT
A

    

    NOTICE OF
EXERCISE

    

    (To be
executed by the Holder of Warrant if such Holder desires to exercise
Warrant)

    

    To
Crownbutte Wind Power Inc.:

    

    The
undersigned hereby irrevocably elects to exercise this Warrant and to purchase
thereunder, ___________________ full shares of common stock of Crownbutte Wind
Power, Inc. issuable upon exercise of the Warrant and delivery
of:

    

    (1)          $__________
(in cash as provided for in the foregoing Warrant) and any applicable taxes
payable by the undersigned pursuant to such Warrant; and

    

    (2)          __________
shares of Common Stock (pursuant to a Cashless Exercise in accordance with
Section 1(b)(ii) of the Warrant) (check here if the undersigned desires to
deliver an unspecified number of shares equal the number sufficient to effect a
Cashless Exercise [___]).

    

    The
undersigned requests that certificates for such shares be issued in the name
of:

    

    _________________________________________

    (Please
print name, address and social security or federal employer

    identification
number (if applicable))

    

    _________________________________________

    

    _________________________________________

    

    If the
shares issuable upon this exercise of the Warrant are not all of the
Warrant Shares which the Holder is entitled to acquire upon the exercise of the
Warrant, the undersigned requests that a new Warrant evidencing the rights not
so exercised be issued in the name of and delivered to:

    

    _________________________________________

    (Please
print name, address and social security or federal employer

    identification
number (if applicable))

    

    _________________________________________

    

    _________________________________________

     

    Name of
Holder (print): _______________________

    Signature: 
_________________________________

    By: 
 ______________________________________

    Title: 
_____________________________________

    Dated: 
____________________________________

    
      
         

      

      
        
        

        
          

        

      

      
         

      

    

     

    
       

    

    EXHIBIT
B

    

    FORM OF
ASSIGNMENT

    

    FOR VALUE
RECEIVED, ___________________________________ hereby sells, assigns and
transfers to each assignee set forth below all of the rights of the undersigned
under the Warrant (as defined in and evidenced by the attached Warrant) to
acquire the number of Warrant Shares set opposite the name of such assignee
below and in and to the foregoing Warrant with respect to said acquisition
rights and the shares issuable upon exercise of the Warrant:

    

    
      
        
          	
                  Name of Assignee

                	 	
                  Address

                	 
      	
                  Number of Warrant Shares

                
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      

        

      

    

    

    If the
total of the Warrant Shares are not all of the Warrant Shares evidenced by the
foregoing Warrant, the undersigned requests that a new Warrant evidencing the
right to acquire the Warrant Shares not so assigned be issued in the name of and
delivered to the undersigned.

     

    
      Name of
Holder (print): _______________________

      Signature: 
_________________________________

      By: 
 ______________________________________

      Title: 
_____________________________________

      Dated: 
____________________________________Unassociated Document

    Exhibit
4.4

    

    July 2,
2008

    

    ProMana
Solutions, Inc.

    50 Cherry
Hill Road

    Suite
100

    Parsippany,
NJ  07054

    Attention:  Manu
Kalia, Chief Executive Officer

    

    Dear
Sir:

    

    Reference
is made to the Agreement and Plan of Merger and Reorganization (the “Merger
Agreement”) by and among ProMana Solutions, a Nevada corporation (the
“Company”), Crownbutte Wind Power, Inc., a North Dakota corporation
(“Crownbutte”), and Crownbutte Acquisition Sub Inc., a North Dakota corporation
and a wholly owned subsidiary of the Company (the “Transactions”).  In
connection with the Merger Agreement, Crownbutte stockholders shall receive
shares of common stock, par value $0.001 per share, of the Company (the “Common
Stock”) in consideration for shares of Crownbutte held by them at the effective
time of the merger.  In consideration of the Company and Crownbutte
entering into the Merger Agreement, the undersigned hereby agrees as
follows:

    

    1.           The
undersigned hereby covenants and agrees, except as provided herein, not to (a)
offer, sell, contract to sell, grant any option to
purchase, hypothecate, pledge or otherwise dispose of or (b) transfer title to (a “Prohibited Sale”)
any of the shares of Common Stock (the “Acquired Shares”) acquired by the
undersigned pursuant to or in connection with the Merger Agreement, during the
period commencing on the “Closing Date” (as defined in the Merger Agreement) and
ending on the 12-month anniversary of the Closing Date (the “Lockup Period”),
without the prior written consent of the Company.  Notwithstanding the
foregoing, the undersigned shall be permitted from time to time during the
Lockup Period, without the prior written consent of the Company, as applicable,
(i) to engage in transactions in connection with the undersigned’s participation
in the Company’s stock option plans, (ii) to transfer all or any part of the
Acquired Shares to any family member, for estate planning purposes, or to an affiliate thereof (as such term is
defined in Rule 405 under the Securities Exchange Act of 1934, as amended),
provided that such transferee agrees in writing
with the Company to be bound hereby, or
(iii) to participate in any
transaction in which holders of the Common Stock of the Company participate or
have the opportunity to participate pro rata, including, without limitation, a
merger, consolidation or binding share exchange involving the Company, a
disposition of the Common Stock in connection with the exercise of any rights,
warrants or other securities distributed to the Company’s stockholders, or a
tender or exchange offer for the Common Stock, and no transaction contemplated
by the foregoing clauses (i), (ii) or (iii) shall be deemed a Prohibited Sale
for purposes of this Letter Agreement.

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    
 

    2.           This
Letter Agreement shall be governed by and construed in accordance with the laws
of the State of New York, without giving effect to principles of conflicts or
choice of laws thereof.

    

    3.           This
Letter Agreement will become a binding agreement among the undersigned as of the
Closing Date.  In the event that no closing occurs under the Merger
Agreement, this Letter Agreement shall be null and void.  This Letter
Agreement (and the agreements reflected herein) may be terminated by the mutual
agreement of the Company and the undersigned, and if not sooner terminated, will
terminate upon the expiration date of the Lockup Period.  This Letter
Agreement may be duly executed by facsimile and in any number of counterparts,
each of which shall be deemed an original, and all of which together shall be
deemed to constitute one and the same instrument.  Signature pages
from separate identical counterparts may be combined with the same effect as if
the parties signing such signature page had signed the same
counterpart.  This Letter Agreement may be modified or waived only by
a separate writing signed by each of the parties hereto expressly so modifying
or waiving such agreement.

    

    
      
        
          
            
              
                
                  
                    
                      	
                              Very
      truly yours,

                            	 
	 
      	 
	 
      	 
	
                              Print
      Name:

                            	 

                    

                  

                

              

            

          

        

      

    

     

    
      
        
          
            
              
                
                  
                    	
                            Address:

                          	 
      
	 	 
	 
      

                  

                

              

            

          

        

      

      

      
        
          
            	
                    Number of shares of Common Stock owned:

                  	 
      

          

        

      

      

      
        
          
            
              	
                      Certificate Numbers:

                    	 
      

            

          

        

      

    

     

    [Company
signature on the following page]

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              	
                      Accepted
      and Agreed to:

                    
	 
      
	
                      ProMana
      Solutions, Inc.

                    
	 
      	 
      
	
                      By:

                    	 
      
	
                      Manu
      Kalia, Chief Executive
Officer

                    

            

          

        

      

    

     

    
      
         

      

      
        3

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