Document:

Exhibit 10.3

 

Exhibit B

 

 

FORM OF STOCK PURCHASE WARRANT

 

THIS WARRANT AND ANY SHARES ISSUED
UPON ITS EXERCISE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), AND HAVE
BEEN ACQUIRED FOR INVESTMENT AND NOT WITH VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISPOSITION
OF ANY SHARES ISSUED UPON EXERCISE HEREOF MAY BE AFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION
OF COUNSEL SATISFACTORY IN FORM AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT THE TRANSFER
OF THIS WARRANT IS RESTRICTED AS SET FORTH HEREIN.

 

	No. _____	July___, 2012

 

 

SAVE THE WORLD AIR, INC. 

WARRANT TO PURCHASE COMMON STOCK

 

VOID AFTER 5:00 P.M. P.S.T. ON July___,
2015

 

THIS CERTIFIES that,
for the value received, the holder identified on the last page of this Warrant (the "Holder") is entitled, upon the terms
and subject to the conditions hereinafter set forth, at any time on or after the date of this Warrant and on or prior to 5:00 p.m.
P.S.T. on the third anniversary of the date of this Warrant (the "Expiration Time"), but not thereafter, to subscribe
for and purchase, from SAVE THE WORLD AIR, INC., a Nevada corporation (the "Company"), up to _________ shares of the
Company's Common Stock (the "Shares") at a purchase price per share equal to $0.40 (the "Exercise Price").

 

1.Exercise of Warrant.

 

(a) The purchase rights
represented by this Warrant are exercisable by the Holder, in whole or in part, at any time after the date of this Warrant and
before the Expiration Time by the surrender of this Warrant and the Notice of Exercise annexed hereto duly executed at the office
of the Company, in Santa Barbara, California (or such other office or agency of the Company as it may designate by notice in writing
to the Holder at the address of the Holder appearing on the books of the Company), and upon payment of an amount equal to the aggregate
Exercise Price for the number of Shares thereby purchased (by cash or by check or certified bank check payable to the order of
the Company in an amount equal to the purchase price of the shares thereby purchased); whereupon the Holder shall be entitled to
receive a stock certificate representing the number of Shares so purchased. The Company agrees that if at the time of the surrender
of this Warrant and purchase of the Shares, the Holder shall be entitled to exercise this Warrant, the Shares so purchased shall
be and be deemed to be issued to such holder as the record owner of such Shares as of the close of business on the date on which
this Warrant shall have been exercised as aforesaid.

 

Upon partial exercise
of this Warrant, the Holder shall be entitled to receive from the Company a new Warrant in substantially identical form for the
purchase of that number of Shares as to which this Warrant shall not have been exercised. Certificates for Shares purchased hereunder
shall be delivered to the Holder within a reasonable time after the date on which this Warrant shall have been exercised as aforesaid.

 

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2. No Fractional
Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant.
With respect to any fraction of a share called for upon the exercise of this Warrant, an amount equal to such fraction multiplied
by the then current fair market value at which each Share may be purchased hereunder shall be paid in cash to the Holder.

 

(a) For purposes of this
Section 2, the fair market value of the Shares shall mean the closing price of a share of the Company's Common Stock on the OTC
Bulletin Board on which the Common Stock is listed at the time of exercise on the last business day prior to the date of exercise
of this Warrant pursuant to Section l or, if the Company's Common Stock is not then listed or quoted on the OTC Bulletin Board,
the closing price of the Company’s Common Stock as reported on the “Pink Sheets” published by the Pink OTC Markets,
Inc. (or a similar organization or agency succeeding to its functions of reporting prices) or in all other cases, the fair market
value of the Common Stock (without regard to the restrictions on transfer or number of Shares) as determined in good faith by the
Company's Board of Directors.

 

3. Charges, Taxes
and Expenses. The Holder shall pay all issue and transfer taxes and other incidental expenses in respect of the issuance of
certificates for Shares upon the exercise of this Warrant, and such certificates shall be issued in the name of the Holder of this
Warrant.

 

4. No Rights as
a Stockholder. This Warrant does not entitle the Holder to any voting rights or other rights as a stockholder of the Company
prior to the exercise hereof.

 

5. Loss, Theft,
Destruction or Mutilation of Warrant. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Warrant, and in case of loss, theft or destruction of this Warrant, upon delivery of an indemnity
agreement or security reasonably satisfactory in form and amount to the Company or, in the case of any such mutilation, upon surrender
and cancellation of such Warrant, and upon reimbursement to the Company of all reasonable expenses incidental thereto, the Company
will make and deliver to the Holder, in lieu thereof, a new Warrant in substantially identical form and dated as of such cancellation.

 

6. 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 be a Saturday or a Sunday or shall be a legal holiday in the United States or the State of California, then
such action may be taken or such right may be exercised on the next succeeding business.

 

7. Merger, Reclassification,
etc.

 

(a) Merger, etc.
If at any time the Company proposes (A) the acquisition of the Company by another entity by means of any transaction or series
of related transactions (including, without limitation, any reorganization, merger, consolidation or stock issuance) that results
in the transfer of fifty percent (50%) or more of the then outstanding voting power of the Company; or (B) a sale of all or substantially
all of the assets of the Company, then the Company shall give the Holder ten (10) days notice of the proposed effective date of
the transaction. If, in the case of such acquisition of the Company, and the Warrant has not been exercised by the effective date
of the transaction, this Warrant shall be exercisable into the kind and number of shares of stock or other securities or property
of the Company or of the entity resulting from such merger or acquisition to which such Holder would have been entitled if immediately
prior to such acquisition or merger, it had exercised this Warrant. The provisions of this Section 7(a) shall similarly apply to
successive consolidations, mergers, sales or conveyances.

 

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(b) Reclassification,
etc. If the Company at any time shall, by subdivision, combination or reclassification of securities or otherwise, change any
of the securities to which purchase rights under this Warrant exist into the same or a different number of securities of any class
or classes, this Warrant shall thereafter be to acquire such number and kind of securities as would have been issuable as the result
of such change with respect to the securities which were subject to the purchase rights under this Warrant immediately prior to
such subdivision, combination, reclassification or other change. If the Shares are subdivided or combined into a greater or smaller
number of Shares, the Exercise Price under this Warrant shall be proportionately reduced in case of subdivision of shares or proportionately
increased in the case of combination of shares, in both cases by the ratio which the total number of Shares to be outstanding immediately
after such event bears to the total number of Shares outstanding immediately prior to such event.

 

(c) Cash Distributions.
No adjustment on account of cash dividends or interest on the Shares or other securities purchasable hereunder will be made to
the Exercise Price under this Warrant.

 

8. Restrictions
on Transfer.

 

(a) Restrictions
on Transfer of Shares. In no event will the Holder make a disposition of this Warrant or the Shares unless and until, if requested
by the Company, it shall have furnished the Company with an opinion of counsel satisfactory to the Company and its counsel to the
effect that appropriate action necessary for compliance with the Securities Act of 1933, as amended (the "Act") relating
to sale of an unregistered security has been taken. Notwithstanding the foregoing, the restrictions imposed upon the transferability
of the Shares shall terminate as to any particular Share when (i) such security shall have been sold without registration in compliance
with Rule 144 under the Act, or (ii) a letter shall have been issued to the Holder at its request by the staff of the Securities
and Exchange Commission or a ruling shall have been issued to the Holder at its request by such Commission stating that no action
shall be recommended by such staff or taken by such Commission, as the case may be, if such security is transferred without registration
under the Act in accordance with the conditions set forth in such letter or ruling and such letter or ruling specifies that no
subsequent restrictions on transfer are required, or (iii) such security shall have been registered under the Act and sold by the
Holder thereof in accordance with such registration.

 

(b) Subject to the provisions
of Section 8(a) hereof, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of the Warrant
with a properly executed assignment at the principal office of the Company.

 

(c) Restrictive
Legends. The stock certificates representing the Shares and any securities of the Company issued with respect thereto shall
be imprinted with legends restricting transfer except in compliance with the terms hereof and with applicable federal and state
securities laws substantially as follows:

 

 

“THE SHARES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER
THE SECURITIES ACT OF 1933 OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THIS CERTIFICATE THAT REGISTRATION IS NOT REQUIRED
UNDER SAID ACT”.

 

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9. Miscellaneous.

 

(a) Governing Law.
This Warrant shall be governed by and construed in accordance with the laws of the State of California applicable to contracts
made and to be performed wholly within such state.

 

(b) Restrictions.
The Holder acknowledges that the Shares acquired upon the exercise of this Warrant may have restrictions upon its resale imposed
by state and federal securities laws.

 

(c) Waivers Strictly
Construed. With regard to any power, remedy or right provided herein or otherwise available to any party hereunder (i) no waiver
or extension of time shall be effective unless expressly contained in a writing signed by the waiving party; and (ii) no alteration,
modification or impairment shall be implied by reason of any previous waiver, extension of time, delay or omission in exercise,
or other indulgence.

 

(d)  Modifications.
This Warrant may not be amended, altered or modified except by a writing signed by the Company and the Holder of this Warrant.

 

IN WITNESS WHEREOF,
SAVE THE WORLD AIR, INC. has caused this Warrant to be executed by its duly authorized representative dated as of the date first
set forth above.

 

	 	 SAVE
THE WORLD AIR, INC.

735
State Street, Suite 500

Santa Barbara, California 93101

 

By: ____________

Name:Cecil Bond Kyte

Title:Chief
Executive Officer

 

 

 

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NOTICE OF EXERCISE

 

TO:SAVE THE WORLD AIR, INC., a Nevada
corporation

 

(1)The undersigned hereby elects
to purchase ______________ shares of Common Stock (the "Shares") of Save the World Air, Inc. (“Issuer”) pursuant
to the terms of the attached Warrant, and tenders herewith payment of the purchase price in full, together with all applicable
transfer taxes, if any.

 

(2) Please issue
a certificate or certificates representing the Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________________________

(Print Name)

 

Address:

 

_______________________________________________

 

_______________________________________________

 

_______________________________________________

 

(3) The undersigned confirms that
he is an “accredited investor” as defined by Rule 501(a) under the Securities Act of 1933, as amended, at the time
of execution of this Notice.

 

(4)The undersigned confirms that
the Shares are being acquired for the account of the undersigned for investment only and not with a view to, or for resale in
connection with, the distribution thereof and that the undersigned has no present intention of distributing or selling the Shares.

 

(5)The undersigned accepts such
Shares subject to the restrictions on transfer set forth in the attached Warrant.

 

(6)The undersigned acknowledges
that the Issuer has given it access to all information relating to the Issuer’s business that the undersigned has requested.
The undersigned has reviewed all materials relating to the Issuer’s business, financial condition and operations which it
has requested and the undersigned has reviewed all of such materials as the undersigned, in the undersigned’s sole and absolute
discretion has deemed necessary or desirable. The undersigned has had an opportunity to discuss the business, management and financial
affairs of the Issuer with the Issuer’s management. Specifically but not by way of limitation, the undersigned acknowledges
the Issuer’s publicly available filings made periodically with the SEC, which filings are available at www.sec.gov and which
filings the undersigned acknowledges reviewing or having had the opportunity of reviewing.

 

(7)The undersigned acknowledges
that it has, by reason of its business and financial experience, such knowledge, sophistication and experience in financial and
business matters and in making investment decisions of this type that it is capable of (i) evaluating the merits and risks of an
investment in the Shares and making an informed investment decision in connection therewith; (ii) protecting its own interest;
and (iii) bearing the economic risk of such investment for an indefinite period of time for shares which are not transferable or
freely tradable. The undersigned hereby agrees to indemnify the Issuer and the officers, directors and employees thereof harmless
against all liability, costs or expenses (including reasonable attorneys’ fees) arising by reason of or in connection with
any misrepresentation or any breach of warranties or representations of the undersigned contained in this Notice, or arising as
a result of the sale or distribution of the Shares issuable upon exercise of the Warrants. The representations and warranties
contained herein shall be binding upon the heirs, legal representatives, successors and assigns of the undersigned.

 

 

	
        __________________________

        (Date)
	
        __________________________

(Signature)

	 	 
	 	
        __________________________

        (Print Name)

 

 

5EFHCorp-2012.6.30-Exhibit 4(a)

Exhibit 4(a)

THIRD SUPPLEMENTAL INDENTURE

Third Supplemental Indenture (this “Third Supplemental Indenture”), dated as of May 31, 2012, among Energy Future Intermediate Holding Company LLC, a Delaware limited liability company (“EFIH”), and EFIH Finance Inc., a Delaware corporation (“EFIH Finance” and, together with EFIH, the “Issuer”), and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”).

W I T N E S S E T H

WHEREAS, the Issuer has heretofore executed and delivered to the Trustee an Indenture, dated as of April 25, 2011 (the “Existing Indenture”), providing for the issuance of $406,392,000 in aggregate principal amount of 11% Senior Secured Second Lien Notes due 2021 (the “Initial 2021 Second Lien Notes”), a First Supplemental Indenture, dated as of February 6, 2012 (the “First Supplemental Indenture”), providing for the issuance of $800,000,000 in aggregate principal amount of 11.750% Senior Secured Second Lien Notes due 2022 (the “Initial 2022 Second Lien Notes”), and a Second Supplemental Indenture, dated as of February 28, 2012 (the “Second Supplemental Indenture” and, together with the Existing Indenture and the First Supplemental Indenture, the “Indenture”), providing for the issuance of $350,000,000 in aggregate principal amount of Additional 11.750% Senior Secured Second Lien Notes due 2022  (the “Additional 2022 Second Lien Notes” and, together with the Initial 2021 Second Lien Notes and the Initial 2022 Second Lien Notes, the “Notes”); 

WHEREAS, the Issuer desires to cure an ambiguity in the Indenture;

WHEREAS, Section 9.01(1) of the Indenture provides that the Issuer and the Trustee may amend or supplement the Indenture without the consent of any Holder to cure any ambiguity, omission, mistake, defect or inconsistency; 

WHEREAS, all conditions necessary to authorize the execution and delivery of this Third Supplemental Indenture and to make this Third Supplemental Indenture valid and binding have been complied with or have been done or performed; and

WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Third Supplemental Indenture.

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of all Persons who are now or hereafter become Holders of the Notes as follows:

1.Capitalized Terms.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

2.Amendment to Article 1.  The definition of “Junior Lien Consolidated Leverage Ratio” shall be amended by inserting the words “Junior Lien Debt and” immediately after the words “(x) an amount equal to (i)”.

3.No Exchange of Existing Notes Required. The execution of this Third Supplemental Indenture shall not require the exchange of or modification to the certificates representing Notes existing prior to the date hereof.

4.Governing Law. This Third Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York.

5.Ratification, Confirmation and Preservation of Indenture.  Except as expressly supplemented hereby, the Indenture continues in full force and effect and is in all respects confirmed, ratified and preserved and the provisions thereof shall be applicable to the Notes and this Third Supplemental Indenture.  Upon the execution and delivery of this Third Supplemental Indenture by the Issuer and the Trustee, this Third Supplemental Indenture shall form a part of the Indenture for all purposes, and the Issuer, the Trustee and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby.  Any and all references to the “Indenture,” whether within the Indenture or in any notice, certificate or other instrument or document, shall be deemed to include a reference to this Third Supplemental Indenture (whether or not made), unless the context shall otherwise require.

6.Indenture and Third Supplemental Indenture Construed Together.  This Third Supplemental Indenture is an indenture supplemental to the Indenture, and the Indenture and this Third Supplemental Indenture shall henceforth be read and construed together for all purposes.

7.Benefits of Third Supplemental Indenture.  Nothing in this Third Supplemental Indenture, the Indenture or the Notes, express or implied, shall give to any Person other than the parties hereto and thereto and their successors hereunder and thereunder, any Paying Agent, any Registrar and the Holders, any benefit of any legal or equitable right, remedy or claim under the Indenture, this Third Supplemental Indenture or the Notes.

8.Successors.  All agreements of the Issuer in this Third Supplemental Indenture shall bind its successors.  All agreements of the Trustee in this Third Supplemental Indenture shall bind its successors.

9.The Trustee.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Third Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Issuer.

10.Counterparts. The parties may sign any number of copies of this Third Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.

11.Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof. 
[Remainder of Page Left Intentionally Blank]

IN WITNESS WHEREOF, the parties hereto have caused this Third Supplemental Indenture to be duly executed and attested, all as of the date first above written. 

	
		
	 
	ENERGY FUTURE INTERMEDIATE HOLDING COMPANY LLC

	 
	 

	 
	 

	 
	By: /s/ ANTHONY R. HORTON                                               
________________________________________________

	 
	Name: Anthony R. Horton

	 
	Title: Senior Vice President and Treasurer

	
		
	 
	EFIH FINANCE INC.

	 
	 

	 
	 

	 
	By: /s/ ANTHONY R. HORTON                                               
________________________________________________

	 
	Name: Anthony R. Horton

	 
	Title: Senior Vice President and Treasurer

	
		
	 
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee

	 
	 

	 
	 

	 
	By: /s/ JULIE HOFFMAN-RAMOS                                              
________________________________________________

	 
	Name: Julie Hoffman-Ramos

	 
	Title: Vice President

[Signature Page to Third Supplemental Indenture]

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