Document:

Unassociated Document

     

    EXHIBIT
10.2

     

    THIS
WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933.  THEREFORE, THEY MAY NOT
BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
1933, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS
NOT REQUIRED UNDER SUCH ACT.

    

    WARRANT
TO PURCHASE COMMON STOCK

    Of

    MACROSOLVE,
INC.

    
 

    This Warrant is issued to
_______________an __________corporation (“Holder”), by MacroSolve, Inc., an
Oklahoma corporation (the “Company”), as of July 8, 2002.  This
Warrant is issued in connection with and in consideration for sales and
marketing efforts which Holder has agreed to make with respect to the Company’s
anyformsTM technology as further described in the Summary Private Placement
Memorandum issued by the Company on July 8, 2002.

    

    1.           Purchase of
Shares.  Subject to the terms and conditions hereinafter set
forth, the Holder is entitled, upon surrender of this Warrant at the principal
office of the Company (or at such other place as the Company shall notify the
Holder in writing), to purchase from the Company, the number of fully paid and
non-assessable shares of Common Stock of the Company calculated as set forth
below (the “Shares”).

    

    Holder
will use its best efforts with respect to sales and marketing of the Company’s
anyformsTM products.  For each sale of such products made primarily
through the efforts of the Holder from the date hereof through December 31,
2004, the Holder will receive a credit in the amount of 10% of the gross revenue
for such sale actually received by the Company up to a maximum credit amount of
$200,000.00.  Such credit shall be applied solely to payment of the
Exercise Price of the Warrants issued hereunder and will not be paid in
cash.

     

    2.           Exercise
Price.  The purchase price for each Share is $6.5359, subject
to adjustment pursuant to Section 6 hereof, which may be paid in cash or through
the application of credits as described herein (as adjusted, the “Exercise
Price”).

     

    3.           Exercise
Period.  This Warrant shall be exercisable beginning on January
1, 2005, and shall remain so exercisable through 11:59 p.m., December 31, 2005,
at which time this Warrant shall expire.

     

    4.           Method of
Exercise.  So long as this Warrant remains outstanding and
exercisable in accordance with Section 3 above, the Holder may exercise in one
transaction only, the purchase rights evidenced hereby.  Such exercise
shall be effected by:

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      	
               
      

            	
              (a)

            	
              the
      surrender of this Warrant to the Company at its principal offices,
      together with a duly executed Notice of Exercise (a copy of the form of
      which is attached hereto); and

            

    

    

    
      	
               
      

            	
              (b)

            	
              the
      payment to the Company of an amount equal to the aggregate Exercise Price
      for the number of Shares being purchased, said amount to consist of cash
      plus any credits for commissions payable by the Company to Holder for
      Holder’s sales and marketing efforts of the Company’s anyformsTM
      technology.

            

    

    

    5.           Certificates for
Shares.  Upon the exercise of the purchase rights evidenced by
this Warrant, one or more certificates for the number of Shares so purchased
shall be issued to the Holder as soon as practicable thereafter (with
appropriate restrictive legends).

     

    6.           Adjustment of Exercise Price
and Number of Shares.  The number of and kind of securities
purchasable upon exercise of this Warrant and the Exercise Price shall be
subject to adjustment from time to time as follows:

     

    (a)           Subdivisions, Combinations
and Other Issuances.  If the Company shall at any time prior to
the expiration of this Warrant subdivide its Common Stock, by split-up or
otherwise, or combine its Common Stock, or issue additional shares of its Common
Stock as a dividend with respect to any shares of its Common Stock, the number
of Shares issuable on the exercise of this Warrant shall forthwith be
proportionately increased in the case of a subdivision or stock dividend, or
proportionately decreased in the case of a combination.  Appropriate
adjustments shall also be made to the purchase price payable per share, but the
aggregate purchase price payable for the total number of Shares purchasable
under this Warrant (as adjusted) shall remain the same.  Any
adjustment under this Section 6(a) shall become effective at the close of
business on the date the subdivision or combination becomes effective, or as of
the record date of such stock dividend, or in the event that no record date is
fixed, upon the making of such stock dividend.

     

    (b)           Reclassification,
Reorganization and Consolidation.  In case of any
reclassification, capital reorganization, or change in the Common Stock of the
Company (other than as a result of a subdivision, combination, or stock dividend
provided for in Section 6(a) above), lawful provision shall be made, and
duly executed documents evidencing the same from the Company or its successor
shall be delivered to the Holder, so that the Holder shall have the right at any
time prior to the expiration of this Warrant to purchase, at a total price equal
to that payable upon the exercise of this Warrant, the kind and amount of shares
of stock and other securities and property receivable in connection with such
reclassification, reorganization, as were purchasable by the Holder immediately
prior to such reclassification, reorganization, or change.  In any
such case appropriate provisions shall be made with respect to the rights and
interests of the Holder so that the provisions hereof shall thereafter be
applicable with respect to any shares of stock or other securities and property
deliverable upon exercise hereof, and appropriate adjustments shall be made to
the purchase price per share payable hereunder, provided the aggregate purchase
price shall remain unchanged.

     

    (c)           Notice of
Adjustment.  When any adjustment is required to be made in the
number or kind of shares purchasable upon exercise of this Warrant, or in the
Exercise Price, the Company shall promptly notify the Holder of such event and
of the number of shares of Common Stock or other securities or property
thereafter purchasable upon exercise of this Warrant.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

       

    

    7.           No Fractional Shares or
Scrip.  No fractional shares or scrip representing fractional
shares shall be issued upon the exercise of this Warrant, but in lieu of such
fractional shares the Company shall make a cash payment to the Holder for such
fractional shares based on the Exercise Price then in effect.

     

    8.           Transfers of
Warrant.  This warrant is not transferable in whole or in part
without the prior written consent of the Company.

     

    9.           Governing
Law.  This Warrant shall be governed by the laws of the State
of Oklahoma without regard to its conflict of laws principles.

     

    IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by an officer thereunto duly
authorized.

     

    
    

     

    
      	 	MACROSOLVE,
      INC. 
	 	 
	 	 
	 	By:
      ______________________________________ 
	 	 
	 	Name:
      ____________________________________ 
	 	 
	 	Title:
      _____________________________________ 

    

     

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    NOTICE OF
EXERCISE

     

     

    To:  MACROSOLVE,
INC.

     

    The undersigned hereby elects to
purchase _____________ shares of Common Stock of MacroSolve, Inc. pursuant to
the terms of the attached Warrant; payment of the Exercise Price per share
required under such Warrant accompanies this notice.

     

    
       

      
        	 	WARRANT
      HOLDER:
	 	 
	 	 
	 	By:
      ______________________________________ 
	 	 
	 	Name:
      ____________________________________ 
	 	 
	 	Title:
      _____________________________________ 
	 	 
	 	Address:
      __________________________________ 
	 	 
	 	Date:
      _____________________________________ 

      

       

    

     

    4Unassociated Document

     

    EXHIBIT 10.3

     

    
      
        	Name of
      Subscriber:  	_______________ 
	Note
      Amount: 	$______________ 

      

       

      MACROSOLVE,
INC.

    

    SUBSCRIPTION
AND INVESTMENT

    REPRESENTATION
AGREEMENT

     

    MacroSolve,
Inc.

    5800 East
Skelly Drive

    Suite
300

    Tulsa,
Oklahoma 74135

    Attn:
James C. McGill

    

    Gentlemen:

    

    This
Subscription and Investment Representation Agreement (the “Agreement”) shall
serve as the agreement of the undersigned subscriber (the "Sub­scriber") to
purchase from MacroSolve, Inc., an Oklahoma corporation (the "Corporation"), a
Promissory Note (a "Note") in the original principal amount set forth
below.  The terms and provisions of the Note are described in the
Private Placement Memorandum, including the Exhibits thereto (the “Memorandum”),
previously delivered by the Corporation to the Subscriber. The undersigned
Subscriber hereby tenders to the Corporation a check in the amount of the
Subscription.  The Note and the shares of the Corporation's Securities
that may, at the option of the Corporation, be issued in payment of the Note are
sometimes collectively referred to herein as the "Securities."

     

    The Subscription may be held in an
escrow account set up in the name of the Corporation until this Subscription is
accepted or rejected by the Corporation.  It is understood that this
Subscription may be accepted or rejected by the Corporation for any reason in
the Corporation’s sole discretion.  If this Subscription is rejected,
then this Agreement shall automatically terminate, the Subscriber shall be
released from all obligations hereunder, except from Subscriber’s
representations and warranties set forth herein, and any Subscription payment
shall be promptly refunded to the Subscriber without interest.

     

    
      
        	
                1.     

              	
                Authorization.  Subscriber
      has the full power and authority to enter into this
      Agreement.  This Agreement constitutes a valid and legally
      binding obligation of such Subscriber.  If the Subscriber is an
      individual, the Subscriber is over twenty-one (21) years of age and is
      legally competent to execute this
Agreement.

              

      

    

     

    
      
        	
                2.     

              	
                Purchase Entirely for
      Own Account.  Subscriber is purchasing the Securities for
      investment purposes only, solely for its own account, and not as a nominee
      or agent, and not with a view to, in connection with, or with intent for,
      the resale or distribution of all or any part of the Securities.
      Subscriber has no present intention of selling, granting any participation
      in, or otherwise distributing all or any part of the
      Securities.  Subscriber has made no agreement with any other
      person or entity concerning the offer or sale of all or any part of the
      Securities.

              

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        	
                3.     

              	
                Restricted
      Securities.  Subscriber understands and acknowledges that
      the Securities are restricted and the offer and sale thereof have not been
      registered under federal or state law, and that the sale or resale of the
      Securities will not be permitted under federal or state law unless such
      Securities are first registered, or the sale is a transaction exempt from
      registration under both state and federal laws. Subscriber shall not sell,
      transfer, assign, encumber or otherwise dispose of the Securities in the
      absence of an effective registration statement covering said Securities
      under the Securities Act of 1933, as amended, and applicable state laws or
      an opinion of legal counsel, in such form and substance as may be
      reasonably acceptable to legal counsel for the Corporation that the
      transaction will not result in a violation of federal or state securities
      laws.  The Securities is not transferable except under extremely
      limited conditions and Subscriber has no need for liquidity of this
      investment. Subscriber consents to the placing of a stop transfer
      notification on the securities records of the Corporation with respect to
      the Securities.  Subscriber agrees to indemnify and hold
      harmless the Corporation from and against any claim, liability, cost or
      expense (including without limitation attorneys fees) arising from any
      alleged unlawful sale or offer or agreement to sell, assign, pledge or
      otherwise transfer all or any portion of the Securities by Subscriber or
      its representatives or
agents.

              

      

    

     

    
      
        	
                4.    

              	
                Legends.  Subscriber
      consents to the placement of the following legend on the certificates for
      the Securities:

              

      

    

     

    NEITHER
THE OFFER NOR SALE OF THIS NOTE OR THE SHARES OF COMMON STOCK OF MAKER WHICH MAY
BE ISSUED IN PAYMENT HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES
LAWS.  THIS NOTE HAS BEEN, AND ANY SHARES OF COMMON STOCK WHICH MAY BE
ISSUED IN PAYMENT HEREOF WILL BE, ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO
DISTRIBUTION OR RESALE, AND MAY NOT BE SOLD, MORTGAGED, PLEDGED OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION UNDER THE SECURITIES ACT AND ANY
APPLICABLE STATE SECURITIES LAWS, OR AN EXEMPTION THEREFROM.

     

    
      
        	
                5.     

              	
                No
      Approval.  Subscriber is aware that no federal or state
      agency has approved or disapproved of the Securities or made any review of
      the offering or sale of the Securities or any finding or determination as
      to the fairness of the terms thereof as an investment, the adequacy of any
      disclosures made by the Corporation, nor any recommendation or endorsement
      of the Securities as an
investment.

              

      

    

     

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
      
        	
                6.     

              	
                Accredited
      Investor.  Subscriber represents and warrants that it is
      an accredited investor by virtue of the fact that it satisfies one or more
      of the provisions set forth below in this
  Section.

              

      

    

     

    
      	
              a.      
        

            	
              Subscriber
      is a natural person with individual net worth, or joint net worth with
      his/her spouse, at the time of purchase exceeding
    $1,000,000;

            

    

     

    
      	
              b.      
        

            	
              Subscriber
      is a natural person who had individual income in excess of $200,000 in
      each of the two most recent years or joint income with his/her spouse in
      excess of $300,000 in each of those years and has a reasonable expectation
      of reaching the same income level in the current
  year;

            

    

     

    
      	
              c.      
        

            	
              Subscriber
      is a director, executive officer, or general partner of the
      Company;

            

    

     

    
      	
              d.      
        

            	
              Subscriber
      is a trust, with total assets in excess of $5,000,000, not formed for the
      specific purpose of acquiring Series B Preferred Stock of the Company,
      whose purchase is directed by a person who is experienced in investment
      and business matters and has such knowledge and experience in financial
      and business matters to enable Subscriber to evaluate the merits and risks
      of the proposed investment;

            

    

     

    
      	
              e.      
        

            	
              Subscriber
      is an organization described in Section 501(c)(3) of the Internal Revenue
      Code, corporation, Massachusetts or similar business trust, or
      partnership, not formed for the specific purpose of acquiring Series B
      Preferred Stock of the Company, with total assets in excess of
      $5,000,000;

            

    

     

    
      	
              f.      
        

            	
              Subscriber
      is a private business development company as defined in section 202(a)(22)
      of the Investment Advisors Act of
1940;

            

    

     

    
      	
              g.     
        

            	
               Subscriber
      is an entity in which all of the equity owners are “accredited investors”,
      as such term is defined in Rule 501(a) of Regulation D, promulgated under
      the Securities Act of 1933 (the “Act”);
and/or

            

    

     

    
      	
              h.     
        

            	
              Subscriber
      otherwise qualifies as an “accredited investor” under Rule 501 of
      Regulation D, promulgated under
Act.

            

    

     

    
      
        	
                7.     

              	
                Receipt of
      Information.  Subscriber acknowledges that it has
      received, read and understands the Private Placement Memorandum and
      understands the risks associated with a purchase of the Securities,
      including the potential loss of the entire amount of the
      investment.  Subscriber represents and warrants that in making
      the decision to purchase the Securities, Subscriber has been advised to
      rely upon, and has relied upon, independent investigations made by
      Subscriber or Subscriber's representatives, including his or her own
      profes­sional tax and business advisors, and that such
      persons have been given full and complete access to all information of the
      Corporation, including the opportunity to examine all relevant documents
      and to ask questions of and to receive answers from the Corporation or
      persons acting on its behalf concerning the terms and conditions of the
      offering and all other matters relating to an investment in the
      Corporation, and to obtain any additional information necessary to verify
      the accuracy of the information set forth
  therein.

              

      

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    
      
        	
                8.     

              	
                Investment
      Experience.  The Subscriber believes that, either alone
      or with the assistance of the Subscriber’s own professional advisors, he
      or she has the knowledge and experience in business and financial matters
      to enable the Subscriber to read, interpret and understand the Private
      Placement Memorandum and the Corporation’s financial statements and all
      other information of the Corporation, and to evaluate the merits and risks
      of an investment in the Securities.  Subscriber has been fully
      informed of and is aware that an investment in the Securities of the
      Corporation is highly speculative and involves a high degree of risk,
      which risk includes the possible loss of the entire amount invested by
      Subscriber.

              

      

    

     

    
      
        	
                9.     

              	
                No Public
      Market.  Subscriber acknowledges that there presently is
      no public market for the Securities and there may never be a public market
      for the Securities.  The Subscriber may not be able to liquidate
      its investment in the Securities in the event of an emergency or to pledge
      its Securities as collateral for loans.  Subscriber represents
      and warrants that the Securities constitute an investment which is
      suitable and consistent with Subscriber's overall investment program and
      that his or her financial situation enables Subscriber to bear the risks
      of this investment for an indefinite period of
  time.

              

      

    

     

    
      
        	
                10.           
      

              	
                Address.  If
      the Subscriber is an individual, the address set forth above is his or her
      true and correct residence, and Subscriber has no present intention of
      becoming a resident or state of any other state or
      jurisdiction.  If the Subscriber is a corporation, limited
      liability company, partnership, trust or other entity, its principal place of
      business is at the address set forth above, and such entity was not formed
      specifically to acquire the
Securities.

              

      

    

     

    
      
        	
                11.           
      

              	
                Complete and Correct
      Information.  All of the information furnished to the
      Corporation by Subscriber, including all information set forth herein is
      correct and complete as of the date hereof.  If there should be
      any material change in any of such information prior to the issuance of
      the Note, the Subscriber will immediately furnish the revised or
      corrected information to the
      Corporation.

              

      

    

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    
      
        	
                12.           
      

              	
                Reliance by the
      Corporation.  Subscriber acknowledges that the
      Corporation will rely upon the repre­sentations, warranties,
      agreements and understandings made herein in its decision whether to
      accept the Subscription of Subscriber, and that the foregoing
      representations, warranties, agreements and understandings shall survive
      the purchase of the Securities, and will survive any acceptance or
      rejection of a Subscription for the Securities.  Subscriber
      agrees to indemnify and hold harmless the Corporation from and against any
      claim, liability, cost or expense (including without limitation attorneys
      fees) due to, or arising from, any breach of any representation, warranty
      or agreement of the Subscriber contained
herein.

              

      

    

     

    
      
        	
                13.           
      

              	
                Risks.  THE
      SECURITIES OFFERED IN THIS SUBSCRIPTION AGREEMENT AFFORD A SIGNIFICANT
      DEGREE OF RISK TO THE SUBSCRIBER.  AN INVESTMENT IN THESE
      SECURITIES IS SUITABLE ONLY AS A LONG-TERM INVESTMENT FOR PERSONS OF
      ADEQUATE FINANCIAL MEANS WHO HAVE NO NEED FOR LIQUIDITY WITH RESPECT TO
      THIS INVESTMENT AND WHO CAN AFFORD A LOSS OF THEIR ENTIRE
      INVESTMENT.  ALTHOUGH EVERY EFFORT HAS BEEN MADE TO ANTICIPATE
      POSSIBLE RISKS, UNFORESEEN CONDITIONS AND UNEXPECTED EVENTS MAY ARISE, AND
      THE FOLLOWING LIST OF RISK FACTORS MAY NOT BE ALL-INCLUSIVE.  A
      SUBSCRIBER CONSIDERING SUBSCRIBING FOR SHARES IN THE COMPANY SHOULD
      CONSIDER ALL OF THE POTENTIAL RISKS OF INVESTMENT IN THE
      COMPANY.

              

      

    

     

     

    DATED as
of the _____ day of __________, 2008.

     

     

    
      	 	_____________________________________ 
	 	Signature of
      Subscriber 
	 	_____________________________________ 
	 	Printed
      Name 
	 	_____________________________________  
	 	Title 

    

     

    

    ACCEPTED
this ____ day of __________, 2008.

    

    MACROSOLVE,
INC.

    

    By
____________________________

    
 

    5

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