Document:

gthp_ex435

 

Exhibit 4.35

 

NEITHER THIS SECURITY NOR THE SECURITIES AS TO
WHICH THIS SECURITY MAYBE EXERCISED HAVE BEEN REGISTERED WITH
THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION
OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER
THE SECURITIES ACT OF 1933, AS AMENDED
(THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE
OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE
EXEMPTION FROM,
OR IN A TRANSACTION NOT SUBJECT
TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES
ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A
LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH
EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY
ACCEPTABLE TO THE COMPANY. THIS SECURITY AND
THE SECURITIES ISSUABLE UPON EXERCISE
OF THIS SECURITY
MAY BE PLEDGED IN
CONNECTION WITH A
BONA FIDE MARGIN ACCOUNT OR OTHER LOAN
SECURED BY SUCH SECURITIES.

 

COMMON STOCK PURCHASE
WARRANT

GUIDED
THERAPEUTICS,
INC.

 

Warrant Shares: 250,000

Date of Issuance: March 31, 2020
("Issuance Date")

 

This COMMON
STOCK PURCHASE WARRANT (the "Warrant") certifies
that, for
value received
(in connection with the
issuance of
the convertible
promissory note in the principal amount of $112,750.00 to the Holder (as defined
below) of even date)
(the "Note"),
Auctus Fund,
LLC, a Delaware
limited liability
company (including any
permitted and registered
assigns, the "Holder"),
is entitled, upon the terms and subject to
the limitations
on exercise and the conditions hereinafter set forth, at any
time on or after the
date of issuance hereof, to purchase from Guided Therapeutics, Inc., a
Delaware corporation (the "Company"), up
to 250,000 shares of Common Stock
(as defined below) (the "Warrant Shares") (whereby
such number may be adjusted from time to
time pursuant
to the terms and conditions of
this Warrant) at the Exercise
Price per share then
in effect. This Warrant
is issued by the Company as of the date
hereof in connection with that certain
securities purchase agreement dated March 31, 2020,
by and among the Company and the Holder
(the "Purchase Agreement").

 

Capitalized terms used in
this Warrant shall have the
meanings set forth in the Purchase Agreement unless otherwise defined in the body of this
Warrant or in
Section 12 below. For purposes of
this Warrant, the
term "Exercise Price" shall
mean $0.16, subject to adjustment
as provided herein (including but not limited to cashless
exercise), and the
term "Exercise Period" shall mean the
period commencing on the Issuance Date and ending on 5 :00 p.m.
eastern standard time
on the five-year
anniversary thereof.

 

1. EXERCISE OF
WARRANT.

 

(a) Mechanics of Exercise.
Subject to the terms
and conditions
hereof, the rights represented by this Warrant may be
exercised in whole or in part at any time or times
during the Exercise Period by delivery of a written
notice, in the form attached hereto as Exhibit A (the
"Exercise Notice"), of the Holder's election to exercise this
Warrant. The Holder shall not
be required to
deliver the original Warrant in order to
affect an exercise hereunder. Partial exercises of this Warrant resulting in
purchases of a portion of the total
number of Warrant Shares available hereunder shall
have the effect of lowering the
outstanding number of Warrant Shares purchasable hereunder in an
amount equal
to the applicable number of
Warrant Shares purchased. On or
before the second Trading Day (the "Warrant Share Delivery
Date") following the date on which the Holder sent
the Exercise Notice to the Company or
the Company's
transfer agent,
and upon receipt by the
Company of payment to the Company
of an amount equal to the applicable
Exercise Price multiplied by
the number of Warrant Shares as to
which all or a portion of this
Warrant is being exercised (the "Aggregate Exercise Price"
and together with the Exercise Notice, the "Exercise
Delivery Documents") in cash or by wire transfer of
immediately available funds (or by cashless
exercise, in which case
there shall be no
Aggregate Exercise Price provided), !be Company shall (or direct its
transfer agent to) issue and dispatch by
overnight courier to the
address as specified in
the Exercise
Notice, a certificate, registered io the Company's share register in the name of the Holder
or its designee, for
the number of shares of Common Stock
to which the Holder
is entitled pursuant to such exercise (or deliver such
shares of Common Stock
in electronic format if
requested by the
Holder). 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 Warrant
Shares with respect to
which this Warrant has
been exercised, irrespective of the
date of delivery of the
certificates evidencing such Warrant
Shares. If this Warrant is submitted in
connection with any
exercise and the
number of Warrant Shares represented by this Warrant submitted for exercise is greater than
the number of
Warrant Shares being acquired upon an
exercise, then the Company shall as soon as practicable
and in no event
later than three Business Days
after any exercise and at its own expense, issue a
new Warrant (in accordance with Section 6) representing the right to purchase the number of Warrant
Shares purchasable immediately prior to such
exercise under this
Warrant, less the
number of Warrant Shares with respect to which this Warrant is exercised.

 

 

 

If the Company
fails to cause its transfer
agent to transmit to the
Holder the respective shares of Common Stock by the
respective Warrant Share Delivery Date, then the
Holder will have the
right to rescind
such exercise in
Holder's sole discretion, and such failure shall be deemed an
event of default under the Note.

 

If the
Market Price of
one share of
Common Stock is greater than the
Exercise Price,
then the Holder may elect to receive Warrant Shares
pursuant to a cashless exercise, in lieu of a
cash exercise, equal to
the value of this Warrant
determined in the
manner described below (or of any portion thereof remaining unexercised) by surrender
of this Warrant and a Notice of Exercise, in which event
the Company shall issue
to Holder a number of Common Stock
computed using the following formula:

 

x =
Y (A-B) / A

 

Where 

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

Y = 

the number of Warrant Shares that the Holder
elects to purchase
under this Warrant (at
the date of such calculation).

A= 

the Market Price
(at the date of such calculation).

B = 

Exercise Price (as adjusted to the
date of such calculation).

 

(b) No Fractional Shares. No fractional shares shall be issued upon the exercise of
this Warrant as a consequence of any adjustment pursuant hereto. All Warrant Shares (including
fractions) issuable upon exercise
of this Warrant may
be aggregated for
purposes of determining
whether the exercise would
result in the issuance of any fractional share. If, after
aggregation, the
exercise would result
in the issuance of a fractional share,
the Company shall, in lieu of issuance of any fractional share, pay the Holder
otherwise entitled to
such fraction a sum in cash equal to
the product resulting
from multiplying the then-current fair
market value of a Warrant Share by such
fraction.

 

(c) Holder 's Exercise Limitations.
The Company shall not
affect any exercise of this Warrant, and a
Holder shall not have the right
to exercise any portion of this Warrant,
to the extent that
after giving effect to
issuance of Warrant Shares upon exercise as set forth on
the applicable Notice of
Exercise, the Holder
(together with the Holder's Affiliates, and any other
persons acting
as a group
together with the Holder or
any of the Holder's Affiliates), would beneficially own in excess of the Beneficial
Ownership Limitation,
as defined below. For
purposes of the foregoing sentence, the number
of shares of Common Stock beneficially owned by the Holder
and its Affiliates shall include the number of shares of Common Stock issuable
upon exercise of this
Warrant with respect to which such determination is being made,
but shall exclude the
number of shares of Common Stock which would be
issuable upon (i) exercise of the remaining, non-exercised portion of this
Warrant beneficially owned by
the Holder or any of its
Affiliates and (ii) exercise
or conversion of the unexercised or non-converted portion of any
other securities of
the Company (including without limitation any
other Common Stock Equivalents) subject to a
limitation on conversion or
exercise analogous to the
limitation contained herein beneficially owned by the
Holder or
any of its Affiliates. Except as set forth in the preceding sentence, for
purposes of this paragraph (d), beneficial ownership shall be
calculated in accordance
with Section 13(d) of the
Exchange Act,
it being acknowledged by the Holder
that the Company
is not representing to the Holder that
such calculation is in compliance with Section 13(d)
of the Exchange
Act and the Holder is
solely responsible for any
schedules required to be filed in accordance therewith. To the
extent that the limitation contained in this paragraph
applies, the determination of whether this Warrant
is exercisable (in
relation to other securities owned by the Holder together with any affiliates) and of which portion
of this Warrant is
exercisable shall be in
the sole discretion
of the Holder, and the
submission of a
Notice of Exercise shall be
deemed to be the Holder's determination of whether this Warrant is
exercisable (in
relation to other securities owned by the Holder together with any Affiliates)
and of which portion of this Warrant is
exercisable, in each case subject to
the Beneficial Ownership
Limitation, and the
Company shall have no obligation to verify or
confirm the accuracy of such determination.

 

For purposes
of this paragraph, in determining the number of outstanding
shares of Common Stock, a
Holder may rely on the number of outstanding shares
of Common Stock as reflected in (A) the Company's most
recent periodic or annual
report filed with the Commission, as
the case may be, (B) a more recent public announcement by
the Company or (C)
a more recent written notice by
the Company or its transfer agent setting forth
the number of shares of
Common Stock
outstanding. Upon the request of a Holder,
the Company shall within
two Trading Days
confirm to the Holder the
number of shares of
Common Stock then outstanding.
In any case,
the number of outstanding shares
of Common Stock shall be determined after giving effect to
the conversion or exercise of securities of the
Company, including this
Warrant, by the Holder or its affiliates since the date
as of which such number of
outstanding shares of
Common Stock was
reported. The "Beneficial Ownership Limitation"
shall be 4.99% of the
number of shares of
the Common Stock
outstanding immediately after giving effect to the issuance
of shares of
Common Stock issuable upon
exercise of this Warrant. The limitations contained in this
paragraph shall apply to a successor Holder of this Warrant.

 

2

 

 

2. ADJUSTMENTS. The Exercise Price and the number
of Warrant Shares shall be adjusted from time to time as follows:

 

(a) 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 shares of Common
Stock, by way of return
of capital or otherwise (including without limitation any distribution of
cash, stock or other securities, property or options by way of a
dividend, spin off,
reclassification, corporate
rearrangement or other similar transaction) (a "Distribution"), at
any time after the issuance of this
Warrant, then, in each
such case:

 

(i) any Exercise Price in effect immediately prior to the close of business on the record
date fixed for the determination of holders of shares
of Common Stock entitled to receive the
Distribution shall
be reduced, effective
as of the close of business on such record
date, to a price determined by multiplying such Exercise Price by
a fraction (i)
the numerator of which shall be
the Closing Sale
Price of the shares of Common Stock on the Trading
Day immediately preceding such record
date minus the value
of the Distribution
(as determined in good faith by the
Company's Board of Directors) applicable to
one share of Common
Stock, and (ii) the
denominator of
which shall be the
Closing Sale Price of
the shares of Common
Stock on the Trading
Day immediately preceding such record
date; and (ii) the
number of Warrant Shares shall be increased to a number of
shares equal to the number of shares of
Common Stock obtainable
immediately prior to the close
of business on the record
date fixed for the determination of holders of shares of Common Stock entitled to
receive the Distribution multiplied by the reciprocal of the
fraction set forth
in the immediately preceding clause
(i); provided,
however, that in the
event that the Distribution is of shares of
common stock
of a company
(other than the Company)
whose common stock is traded on a national securities exchange or a
national automated
quotation system ("Other
Shares of Common Stock"), then the
Holder may elect to receive a
warrant to purchase
Other Shares of Common Stock
in lieu of an increase in the number of Warrant Shares, the terms
of which shall be identical to those of this Warrant, except that
such warrant shall be exercisable into the number of shares of Other
Shares of Common Stock that would
have been payable to the Holder pursuant to the Distribution
had the Holder exercised this Warrant immediately
prior to such record date and with an aggregate exercise price
equal to the product of the amount by which the exercise price of
this Warrant was decreased with respect to the Distribution
pursuant to the terms of the immediately preceding clause (i) and
the number of Warrant Shares calculated in accordance with the
first part of this clause (ii).

 

(b)
[Intentionally Omitted].

 

(c) Subdivision or Combination of Common
Stock. If the Company at any time on or after the
Issuance Date subdivides (by any stock split, stock
dividend, recapitalization or otherwise) one or
more classes of its outstanding shares of Common Stock into a
greater number of shares, the Exercise Price in effect immediately prior to such subdivision will be
proportionately reduced and the number of Warrant Shares will be
proportionately increased. If
the Company at any time on or after the Issuance Date combines (by
combination, reverse stock split or otherwise) one or more classes
of 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 will be proportionately decreased. Any adjustment
under this Section 2(c) shall become effective at the close of
business on the date the subdivision or combination becomes
effective. Each such adjustment of the Exercise Price shall be
calculated to the nearest one-hundredth of a cent. Such adjustment
shall he made successively whenever any event covered by this
Section 2(c) shall occur.

 

3

 

 

1. FUNDAMENTAL TRANSACTIONS. If, at any time while
this Warrant is outstanding, (i) the Company effects any merger of
the Company with or into another entity and the Company is not the
surviving entity (such surviving entity, the
"Successor Entity"),
(ii) the Company
effects any sale of all or substantially all of its
assets in one or a series of related
transactions,
(iii) any tender offer or exchange
offer (whether by the Company or by another individual or entity,
and approved by the Company) is completed pursuant to
which holders of Common Stock are permitted to tender or exchange
their shares of Common Stock for other securities, cash or property
and the holders of at least 50% of
the Common Stock accept such offer, or
(iv) the Company effects any reclassification of the
Common Stock or any compulsory share exchange pursuant to which the
Common Stock is effectively converted into or exchanged for other
securities, cash or property (other than as a result of a
subdivision or combination of shares of Common Stock) (in any such
case, a "Fundamental Transaction"),
then, upon any subsequent exercise of this Warrant, the
Holder shall have the right to receive the number of shares of
Common Stock of the Successor Entity or
of the Company and any additional consideration (the
"Alternate Consideration") receivable upon or as a
result of such reorganization, reclassification, merger,
consolidation or disposition of
assets by a holder of the number of shares of Common
Stock for which this Warrant is exercisable immediately prior to
such event (disregarding any limitation on
exercise contained herein solely for the purpose of such
determination). For purposes of any such
exercise, the determination of the Exercise Price
shall be appropriately adjusted to apply to such Alternate
Consideration based on the amount of Alternate Consideration
issuable in respect of one share of Common Stock in such
Fundamental Transaction, and the Company shall apportion the
Exercise Price among the Alternate Consideration
in a reasonable manner reflecting the relative value of any
different components of the Alternate Consideration. If holders of
Common Stock are given any choice as to the
securities, cash or property to be received in a Fundamental
Transaction,
then the Holder shall be given the
same choice as to the Alternate Consideration it receives upon any
exercise of this Warrant following such Fundamental
Transaction.
To the extent necessary to effectuate
the foregoing provisions, any
Successor Entity in such Fundamental
Transaction shall issue to the Holder a new warrant consistent with
the foregoing provisions and evidencing the Holder's right
to exercise such warrant
into Alternate Consideration.

 

2. NON-CIRCUMVENTION.
The Company covenants and agrees that it will not, by amendment of
its certificate of incorporation, bylaws or
through any reorganization, transfer of assets, consolidation,
merger, scheme of arrangement, dissolution, issue or sale of
securities, or any other voluntary action, avoid or
seek to avoid the observance or performance of any of the terms of
this Warrant,
and will at all times
in good faith carry out all the provisions of this Warrant and take
all action as may be required to protect the rights of the Holder.
Without limiting the generality of the foregoing, the Company (i)
shall not increase the par value of any shares of Common Stock
receivable upon the exercise of this Warrant above the Exercise
Price then in effect, (ii) shall take all such actions as
may be necessary or appropriate in order that the Company may validly and
legally issue fully paid and non-assessable shares of Common Stock
upon the exercise of this Warrant, and (iii) shall, for so long as this Warrant
is outstanding, have authorized and
reserved, free
from preemptive rights, ten
times the number of
shares of Common Stock that is actually issuable upon full exercise of the Warrant (based
on the Exercise
Price in effect from
time to time,
and without regard to any limitations on
exercise).
5. WARRANT HOLDER NOT DEEMED A STOCKHOLDER. Except as otherwise
specifically provided herein,
this Warrant,
in and of itself, shall not entitle
the Holder to any
voting rights or other rights as a stockholder of the
Company. In addition, nothing contained in this Warrant
shall be construed as imposing any liabilities on the Holder to purchase any
securities (upon exercise of this
Warrant or
otherwise) or as a stockholder of
the Company,
whether such liabilities are asserted by the Company
or by creditors
of the Company.

 

6.
REISSUANCE.

 

(a) Lost, Stolen or Mutilated Warrant.
If this Warrant is
lost, stolen,
mutilated or destroyed, the
Company will, on
such terms as to indemnity or
otherwise as
it may reasonably
impose (which shall,
in the case of a mutilated
Warrant, include the surrender thereof), issue a new Warrant
of like denomination and tenor as this
Warrant so lost, stolen, mutilated or destroyed.

 

(b) Issuance of New
Warrants. Whenever the
Company is required to
issue a new Warrant pursuant to the terms of this
Warrant, such new
Warrant shall be of
like tenor with this Warrant,
and shall have an
issuance date,
as indicated on the
face of such
new Warrant which is
the same as the Issuance Date.

 

4

 

 

7.

TRANSFER. This
Warrant shall
be binding upon the Company and its successors
and assigns, and
shall inure to be the benefit of
the Holder and
its successors and assigns. Notwithstanding anything to the
contrary herein, the rights, interests or
obligations of
the Company hereunder may not be assigned, by operation
of law or otherwise, in
whole or in part, by the Company
without the prior
signed written consent of the
Holder, which consent
may be withheld at the sole discretion of the
Holder (any such assignment or
transfer shall be null
and void if the Company does
not obtain the
prior signed written
consent of the Holder). This Warrant or any of
the severable
rights and obligations inuring to the
benefit of or
to be performed
by Holder hereunder may be assigned by
Holder to a third
party, in whole or in part, without
the need to obtain the Company's
consent thereto.

8.

NOTICES. Whenever notice is required to be
given under this Warrant, unless otherwise provided herein, such notice shall be given in
accordance with the notice provisions contained in
the Purchase Agreement. The
Company shall provide the Holder
with prompt written
notice (i) immediately upon any adjustment of the Exercise Price, setting forth
in reasonable
detail, the calculation of such
adjustment and
(ii) at least 20 days
prior to the date on
which the Company closes its books or
takes a record
(A) with respect to any dividend or distribution upon the shares of Common Stock, (8)
with respect to any
grants, issuances or
sales of any
stock or other securities
directly or indirectly
convertible into or
exercisable or exchangeable for shares of Common
Stock or other property, pro
rata to the holders of shares of Common Stock or (C)
for determining
rights to vote with respect to any Fundamental Transaction,
dissolution or liquidation, provided in each case that
such information shall
be made known to the public prior to or
in conjunction with such notice being
provided to the
Holder.

9.

AMENDMENT AND WAIVER. The terms of this Warrant may be amended or
waived (either generally or in a
particular instance
and either retroactively or
prospectively) only with the
written consent of
the Company and the
Holder.

10.

GOVERNING LAW AND
VENUE. This Warrant shall be governed by
and construed in accordance
with the laws of
the State of Nevada without regard to
principles of
conflicts of laws.
Any action brought by
either party against the other
concerning the
transactions contemplated by this
Warrant shall
be brought only in
the state courts located in the
Commonwealth of Massachusetts or in the federal courts located
in the Commonwealth of Massachusetts. The parties to this Warrant hereby irrevocably waive any objection to
jurisdiction and venue of any
action instituted hereunder
and shall not assert
any defense based
on lack of
jurisdiction or venue or
based upon forum non conveniens.
THE BORROWER HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT
TO REQUEST, A JURY
TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF TIDS
WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY. The
prevailing party shall be entitled to recover from the other party its reasonable attorney's fees and
costs. In the
event that any provision of this
Warrant or any other agreement
delivered in connection herewith is invalid or unenforceable under any applicable statute or
rule of law, then such provision shall be deemed inoperative to the extent
that it may conflict therewith and
shall be deemed modified to conform with such statute or
rule of law.
Any such provision which may
prove invalid or unenforceable under any law shall
not affect the validity
or enforceability of any other provision of any agreement. Each party hereby irrevocably waives personal service of process and
consents to process
being served in any suit,
action or proceeding in
connection with this Agreement
or any other Transaction
Document by mailing a copy
thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for
notices to it under this Agreement and agrees
that such service shall constitute good and sufficient
service of process and
notice thereof. Nothing
contained herein
shall be deemed
to limit in any way any right to serve process
in any other manner permitted by law.

11.

ACCEPTANCE. Receipt of this Warrant by the Holder
shaIl constitute acceptance of and agreement to all of
the terms and conditions contained herein.

12.

CERTAIN DEFINITIONS. For purposes
of this Warrant,
the following terms shall have the
following meanings:

 

(a) "Nasdaq" means
www.Nasdaq.com.

 

5

 

 

(b) "Closing Sale Price" means, for any
security as of any
date, (i) the last closing trade price for such
security on the Principal Market, as reported by
Nasdaq, or, if the
Principal Market begins to
operate on an extended hours basis and does not designate
the closing trade price, then the last trade price of
such security prior to
4:00 p.m., New York time, as
reported by Nasdaq, or (ii) if the foregoing
does not apply, the last trade
price of such security in
the over-the-counter market for
such security as reported by
Nasdaq, or (iii) if no
last trade price is reported
for such security by Nasdaq, the
average of the bid and ask prices of any
market makers for such security as reported by
the OTC Markets. If the
Closing Sale Price cannot be calculated for a security on a
particular date on any of the foregoing bases, the
Closing Sale
Price of such security on
such date shall be the fair market value as mutually
determined by
the Company and the Holder. All such determinations to be appropriately adjusted for any stock dividend,
stock split,
stock combination or other similar
transaction during the
applicable calculation
period.

 

(c) "Common Stock" means the Company's
common stock, and any other class of securities into which such
securities may hereafter
be reclassified or
changed.

 

(d) "Common Stock Equivalents" means any
securities of the Company that
would entitle the holder
thereof to acquire at any time Common
Stock, including without limitation any debt, preferred stock,
rights, options, warrants or other instrument that is
at any time convertible into or
exercisable or exchangeable for, or otherwise entitles the
holder thereof
to receive, Common
Stock.

 

(e) "Dilutive Issuance" is
any issuance of Common Stock or Common Stock Equivalents described
in Section 2(b) above; provided, however, that
a Dilutive Issuance shall not include
any Exempt Issuance.

 

(f) "Exempt Issuance" means the issuance of (i)
shares of Common Stock or options to employees, officers, or
directors of the Company pursuant to any stock or option plan duly adopted
by a majority of the non-employee
members of the Board of
Directors of the Company or a majority of
the members of a committee of
nonemployee directors
established for such
purpose, and (ii) shares of Common Stock issued pursuant to
real property leasing
arrangement from a bank approved by the Board of
Directors of the Company; (iii) securities upon the conversion of
the Note , and (iv) securities issued pursuant to
acquisitions or strategic transactions approved by a majority
of the disinterested directors of the
Company.

 

(g) "Principal Market"
means the primary national securities
exchange on which the Common
Stock is then
traded.

 

(h) "Market Price" means
the highest traded price of the
Co=on Stock on the Trading
Day immediately prior to the date of the respective
Exercise
Notice.

 

(i) "Trading Day"
means (i) any day on which the Common Stock
is listed or
quoted and traded on its
Principal Market, (ii) if the
Co=on Stock is not then listed or quoted and
traded on any national
securities
exchange, then
a day on
which trading occurs on any
over-the-counter markets, or (iii) if
trading does not occur on the over-the-counter markets, any Business Day.

 

*******

 

 

6

 

IN WI1NESS WHEREOF, the
Company has caused this Warrant to be
duly executed as of the Issuance Date set forth
above.

 

GUIDED THERAPEUTICS, INC.

By:
/Gene S. Cartwright/

Name:
Gene Cartwright

Title:
Chief Executive Officer

 

 

7

 

EXHIBIT
A

 

EXERCISE NOTICE

 

(To be executed by the registered
holder to exercise
this Common Stock Purchase Warrant)

 

THE UNDERSIGNED holder hereby exercises the right
to purchase of the shares of Common Stock
("Warrant Shares")
of Guided Therapeutics,
Inc., a Delaware corporation (the "Company"), evidenced by the attached copy of the
Common Stock Purchase Warrant (the "Warrant"). Capitalized terms
used herein and not otherwise defined shall have the respective
meanings set forth in the Warrant.

 

1.

Form of
Exercise Price. The
Holder intends that payment of
the Exercise
Price shall be made as
(check one):

☐

A cash exercise with respect
to ________ Warrant Shares; or

☐

by
cashless exercise pursuant to the Warrant.

2.

Payment of
Exercise Price.
If cash exercise is selected above, the
holder shall pay the
applicable Aggregate Exercise Price
in the sum of $ to
the Company in accordance with the
terms of the Warrant.

3.

Delivery of Warrant
Shares. The Company shall deliver to the holder
________ Warrant Sh.ares in accordance with the terms
of the Warrant.

 

Date: _____________

 

(Print
Name of Registered Holder)

 

By: _______________

Name:

Title: ________ ________

 

 

 

EXHIBIT B

 

ASSIGNMENT OF WARRANT

 

(To be
signed only upon authorized transfer
of the Warrant)

 

FOR VALUE RECEIVED, the undersigned hereby sells,
assigns, and transfers unto the right to purchase
shares of common stock of Guided Therapeutics, Inc., to which the
within Common Stock Purchase Warrant relates and appoints
, as attorney-in-fact, to transfer said right on
the books of Guided Therapeutics, Inc. with full
power of substitution and re-substitution in the premises. By accepting such transfer, the
transferee has
agreed to be bound in all respects by
the terms and conditions of the within Warrant.

 

Dated:
________

 

(Signature) *

 

(Name)

 

(Address)

 

(Social
Security or Tax Identification No.)

 

* The signature on this Assignment of
Warrant must
correspond to the name as
written upon
the face of the Common Stock Purchase
Warrant in every
particular without alteration
or enlargement or any change whatsoever. When signing on behalf of
a corporation, partnership, trust or other entity, please
indicate your
position(s) and title(s) with such
entity.gthp_ex436

 

  Exhibit
4.36

 

NEITHER
THIS SECURITY NOR THE SECURITIES FOR WHICH THIS SECURITY IS
EXERCISABLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE
COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE
UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “SECURITIES ACT”), AND,
ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT
SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND
IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY
AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS SECURITY MAY BE
PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN
SECURED BY SUCH SECURITIES

 

COMMON
STOCK PURCHASE WARRANT

 

GUIDED
THERAPEUTICS, INC.

 

Warrant Shares:
__________           

Initial
Exercise Date: __________, 2020

 

THIS
COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that,
for value received, __________ or its assigns (the
“Holder”) is entitled,
upon the terms and subject to the limitations on exercise and the
conditions hereinafter set forth, at any time on or after the date
hereof (the “Initial
Exercise Date”) and on or prior to 5:00 p.m. (New York
City time) on _________, 2023 (the “Termination Date”) but
not thereafter, to subscribe for and purchase from Guided
Therapeutics, Inc., a Delaware corporation (the “Company”), up to
_________ shares (as subject to adjustment hereunder, the
“Warrant
Shares”) of Common Stock. The purchase price of one
share of Common Stock under this Warrant shall be equal to the
Exercise Price, as defined in Section 2(b).

 

Section
1.           
Definitions.
Capitalized terms used and not otherwise defined herein shall have
the meanings set forth in that certain Securities Purchase
Agreement (the “Purchase Agreement”),
dated December 30, 2019, among the Company and the purchasers
signatory thereto.

 

Section
2.             
Exercise.

 

a) Exercise
of Warrant. Exercise of the purchase rights represented by
this Warrant may be made, in whole or in part, at any time or times
on or after the Initial Exercise Date and on or before the
Termination Date by delivery to the Company of a duly executed
facsimile copy or PDF copy submitted by e-mail (or e-mail
attachment) of the Notice of Exercise in the form annexed hereto
(the “Notice of
Exercise”). The Holder shall deliver the aggregate
Exercise Price for the shares specified in the applicable Notice of
Exercise by wire transfer or cashier’s check drawn on a
United States bank unless the cashless exercise procedure specified
in Section 2(c) below is specified in the applicable Notice of
Exercise. No
ink-original Notice of Exercise shall be required, nor shall any
medallion guarantee (or other type of guarantee or notarization) of
any Notice of Exercise be required. Notwithstanding anything herein
to the contrary, the Holder shall not be required to physically
surrender this Warrant to the Company until the Holder has
purchased all of the Warrant Shares available hereunder and the
Warrant has been exercised in full, in which case, the Holder shall
surrender this Warrant to the Company for cancellation within three
(3) Trading Days of the date on which the final Notice of Exercise
is delivered to the Company. Partial exercises of this Warrant
resulting in purchases of a portion of the total number of Warrant
Shares available hereunder shall have the effect of lowering the
outstanding number of Warrant Shares purchasable hereunder in an
amount equal to the applicable number of Warrant Shares purchased.
The Holder and the Company shall maintain records showing the
number of Warrant Shares purchased and the date of such purchases.
The Company shall deliver any objection to any Notice of Exercise
within two (2) Business Days of receipt of such notice.
The Holder and any assignee, by
acceptance of this Warrant, acknowledge and agree that, by reason
of the provisions of this paragraph, following the purchase of a
portion of the Warrant Shares hereunder, the number of Warrant
Shares available for purchase hereunder at any given time may be
less than the amount stated on the face hereof.

 

 

 

b) Exercise Price. The exercise
price per share of the Common Stock under this Warrant shall be
$0.25 (the
“Exercise
Price”).

 

c) Cashless Exercise. If at any
time after the six-month anniversary of the Closing Date, there is
no effective Registration Statement registering, or no current
prospectus available for, the resale of the Warrant Shares by the
Holder, then this Warrant may also be exercised, in whole or in
part, at such time by means of a “cashless exercise” in
which the Holder shall be entitled to receive a number of Warrant
Shares equal to the quotient obtained by dividing [(A-B) (X)] by
(A), where:

 

(A) =
the VWAP on the Trading Day immediately preceding the date on which
Holder elects to exercise this Warrant by means of a
“cashless exercise,” as set forth in the applicable
Notice of Exercise;

 

(B) =
the Exercise Price of this Warrant, as adjusted hereunder;
and

 

(X) =
the number of Warrant Shares that would be issuable upon exercise
of this Warrant in accordance with the terms of this Warrant if
such exercise were by means of a cash exercise rather than a
cashless exercise.

 

As used
herein, “VWAP” means, for any
date, the price determined by the first of the following clauses
that applies: (a) if the Common Stock is then listed or quoted on a
Trading Market, the daily volume weighted average price of the
Common Stock for such date (or the nearest preceding date) on the
Trading Market on which the Common Stock is then listed or quoted
as reported by Bloomberg L.P. (based on a Trading Day from 9:30
a.m. (New York City time) to 4:02 p.m. (New York City time)),
(b)  if OTCQB or OTCQX is not a Trading Market, the volume
weighted average price of the Common Stock for such date (or the
nearest preceding date) on OTCQB or OTCQX as applicable, (c) if the
Common Stock is not then listed or quoted for trading on OTCQB or
OTCQX and if prices for the Common Stock are then reported in the
“Pink Sheets” published by OTC Markets Group, Inc. (or
a similar organization or agency succeeding to its functions of
reporting prices), the most recent bid price per share of the
Common Stock so reported, or (d) in all other cases, the fair
market value of a share of Common Stock as determined by an
independent appraiser selected in good faith by the Purchasers of a
majority in interest of the Securities then outstanding and
reasonably acceptable to the Company, the fees and expenses of
which shall be paid by the Company.

 

2

 

 

d)

Mechanics of
Exercise.

 

i. Delivery of Warrant Shares Upon
Exercise. The Company shall deliver to the Holder the number
of Warrant Shares to which the Holder is entitled pursuant to such
exercise to the address specified by the Holder in the Notice of
Exercise. Upon delivery of the Notice of Exercise, the Holder shall
be deemed for all corporate purposes to have become the holder of
record of the Warrant Shares with respect to which this Warrant has
been exercised, irrespective of the date of delivery of the Warrant
Shares, provided that payment of the aggregate Exercise Price is
received.

 

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

 

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

 

iv. No Fractional Shares or Scrip.
No fractional shares or scrip representing fractional shares shall
be issued upon the exercise of this Warrant. As to any fraction of
a share which the Holder would otherwise be entitled to purchase
upon such exercise, the Company shall, at its election, either pay
a cash adjustment in respect of such final fraction in an amount
equal to such fraction multiplied by the Exercise Price or round up
to the next whole share.

 

v. Charges, Taxes and Expenses.
Issuance of Warrant Shares shall be made without charge to the
Holder for any issue or transfer tax or other incidental expense in
respect of the issuance of such Warrant Shares, all of which taxes
and expenses shall be paid by the Company, and such Warrant Shares
shall be issued in the name of the Holder or in such name or names
as may be directed by the Holder; provided, however, that in the event that
Warrant Shares are to be issued in a name other than the name of
the Holder, this Warrant when surrendered for exercise shall be
accompanied by the Assignment Form attached hereto duly executed by
the Holder and the Company may require, as a condition thereto, the
payment of a sum sufficient to reimburse it for any transfer tax
incidental thereto.

 

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

 

3

 

 

e)           Holder’s
Exercise Limitations. The Company shall not effect any
exercise of this Warrant, and a Holder shall not have the right to
exercise any portion of this Warrant, pursuant to Section 2 or
otherwise, to the extent that after giving effect to such issuance
after exercise as set forth on the applicable Notice of Exercise,
the Holder (together with the Holder’s Affiliates, and any
other Persons acting as a group together with the Holder or any of
the Holder’s Affiliates (such Persons, “Attribution Parties”)),
would beneficially own in excess of the Beneficial Ownership
Limitation (as defined below).  For purposes of the foregoing
sentence, the number of shares of Common Stock beneficially owned
by the Holder and its Affiliates and Attribution Parties shall
include the number of shares of Common Stock issuable upon exercise
of this Warrant with respect to which such determination is being
made, but shall exclude the number of shares of Common Stock which
would be issuable upon (i) exercise of the remaining, nonexercised
portion of this Warrant beneficially owned by the Holder or any of
its Affiliates or Attribution Parties and (ii) exercise or
conversion of the unexercised or nonconverted portion of any other
securities of the Company (including, without limitation, any other
Common Stock Equivalents) subject to a limitation on conversion or
exercise analogous to the limitation contained herein beneficially
owned by the Holder or any of its Affiliates or Attribution
Parties.  Except as set forth in the preceding sentence, for
purposes of this Section 2(e), beneficial ownership shall be
calculated in accordance with Section 13(d) of the Exchange Act and
the rules and regulations promulgated thereunder, it being
acknowledged by the Holder that the Company is not representing to
the Holder that such calculation is in compliance with Section
13(d) of the Exchange Act and the Holder is solely responsible for
any schedules required to be filed in accordance therewith. To the
extent that the limitation contained in this Section 2(e) applies,
the determination of whether this Warrant is exercisable (in
relation to other securities owned by the Holder together with any
Affiliates and Attribution Parties) and of which portion of this
Warrant is exercisable shall be in the sole discretion of the
Holder, and the submission of a Notice of Exercise shall be deemed
to be the Holder’s determination of whether this Warrant is
exercisable (in relation to other securities owned by the Holder
together with any Affiliates and Attribution Parties) and of which
portion of this Warrant is exercisable, in each case subject to the
Beneficial Ownership Limitation, and the Company shall have no
obligation to verify or confirm the accuracy of such determination.
In addition, a determination as to any group status as contemplated
above shall be determined in accordance with Section 13(d) of the
Exchange Act and the rules and regulations promulgated thereunder.
For purposes of this Section 2(e), in determining the number of
outstanding shares of Common Stock, a Holder may rely on the number
of outstanding shares of Common Stock as reflected in (A) the
Company’s most recent periodic or annual report filed with
the Commission, as the case may be, (B) a more recent public
announcement by the Company or (C) a more recent written notice by
the Company or the Transfer Agent setting forth the number of
shares of Common Stock outstanding.  Upon the written or oral
request of a Holder, the Company shall within one Trading Day
confirm orally and in writing to the Holder the number of shares of
Common Stock then outstanding.  In any case, the number of
outstanding shares of Common Stock shall be determined after giving
effect to the conversion or exercise of securities of the Company,
including this Warrant, by the Holder or its Affiliates or
Attribution Parties since the date as of which such number of
outstanding shares of Common Stock was reported. The
“Beneficial
Ownership Limitation” shall be 4.99% of the number of
shares of the Common Stock outstanding immediately after giving
effect to the issuance of shares of Common Stock issuable upon
exercise of this Warrant. The Holder, upon notice to the Company,
may increase or decrease the Beneficial Ownership Limitation
provisions of this Section 2(e), provided that the Beneficial
Ownership Limitation in no event exceeds 9.99% of the number of
shares of the Common Stock outstanding immediately after giving
effect to the issuance of shares of Common Stock upon exercise of
this Warrant held by the Holder and the provisions of this Section
2(e) shall continue to apply. Any increase in the Beneficial
Ownership Limitation will not be effective until the 61st day after such
notice is delivered to the Company. The provisions of this
paragraph shall be construed and implemented in a manner otherwise
than in strict conformity with the terms of this Section 2(e) to
correct this paragraph (or any portion hereof) which may be
defective or inconsistent with the intended Beneficial Ownership
Limitation herein contained or to make changes or supplements
necessary or desirable to properly give effect to such limitation.
The limitations contained in this paragraph shall apply to a
successor holder of this Warrant.

 

Section
3.            
Certain
Adjustments.

 

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

 

4

 

 

b) Fundamental Transaction. If, at
any time while this Warrant is outstanding, (i) the Company,
directly or indirectly, in one or more related transactions effects
any merger or consolidation of the Company with or into another
Person, (ii) the Company, directly or indirectly, effects any sale,
lease, license, assignment, transfer, conveyance or other
disposition of all or substantially all of its assets in one or a
series of related transactions, (iii) any, direct or indirect,
purchase offer, tender offer or exchange offer (whether by the
Company or another Person) is completed pursuant to which holders
of Common Stock are permitted to sell, tender or exchange their
shares for other securities, cash or property and has been accepted
by the holders of 50% or more of the outstanding Common Stock, (iv)
the Company, directly or indirectly, in one or more related
transactions effects any reclassification, reorganization or
recapitalization of the Common Stock or any compulsory share
exchange pursuant to which the Common Stock is effectively
converted into or exchanged for other securities, cash or property,
or (v) the Company, directly or indirectly, in one or more related
transactions consummates a stock or share purchase agreement or
other business combination (including, without limitation, a
reorganization, recapitalization, spin-off or scheme of
arrangement) with another Person or group of Persons whereby such
other Person or group acquires more than 50% of the outstanding
shares of Common Stock (not including any shares of Common Stock
held by the other Person or other Persons making or party to, or
associated or affiliated with the other Persons making or party to,
such stock or share purchase agreement or other business
combination) (each a “Fundamental
Transaction”), then, upon any subsequent exercise of
this Warrant, the Holder shall have the right to receive, for each
Warrant Share that would have been issuable upon such exercise
immediately prior to the occurrence of such Fundamental
Transaction, at the option of the Holder (without regard to any
limitation in Section 2(e) on the exercise of this Warrant), the
number of shares of Common Stock of the successor or acquiring
corporation or of the Company, if it is the surviving corporation,
and any additional consideration (the “Alternate Consideration”)
receivable as a result of such Fundamental Transaction by a holder
of the number of shares of Common Stock for which this Warrant is
exercisable immediately prior to such Fundamental Transaction
(without regard to any limitation in Section 2(e) on the exercise
of this Warrant). For purposes of any such exercise, the
determination of the Exercise Price shall be appropriately adjusted
to apply to such Alternate Consideration based on the amount of
Alternate Consideration issuable in respect of one share of Common
Stock in such Fundamental Transaction, and the Company shall
apportion the Exercise Price among the Alternate Consideration in a
reasonable manner reflecting the relative value of any different
components of the Alternate Consideration. If holders of Common
Stock are given any choice as to the securities, cash or property
to be received in a Fundamental Transaction, then the Holder shall
be given the same choice as to the Alternate Consideration it
receives upon any exercise of this Warrant following such
Fundamental Transaction.

 

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

 

d) Notice to Holder.

 

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

 

5

 

 

ii. Notice to Allow Exercise by
Holder. If (A) the Company shall declare a dividend (or any
other distribution in whatever form) on the Common Stock, (B) the
Company shall declare a special nonrecurring cash dividend on or a
redemption of the Common Stock, (C) the Company shall authorize the
granting to all holders of the Common Stock rights or warrants to
subscribe for or purchase any shares of capital stock of any class
or of any rights, (D) the approval of any stockholders of the
Company shall be required in connection with any reclassification
of the Common Stock, any consolidation or merger to which the
Company is a party, any sale or transfer of all or substantially
all of the assets of the Company, or any compulsory share exchange
whereby the Common Stock is converted into other securities, cash
or property, or (E) the Company shall authorize the voluntary or
involuntary dissolution, liquidation or winding up of the affairs
of the Company, then, in each case, the Company shall cause to be
delivered by facsimile or email to the Holder at its last facsimile
number or email address as it shall appear upon the Warrant
Register of the Company, at least 10 calendar days prior to the
applicable record or effective date hereinafter specified, a notice
stating (x) the date on which a record is to be taken for the
purpose of such dividend, distribution, redemption, rights or
warrants, or if a record is not to be taken, the date as of which
the holders of the Common Stock of record to be entitled to such
dividend, distributions, redemption, rights or warrants are to be
determined or (y) the date on which such reclassification,
consolidation, merger, sale, transfer or share exchange is expected
to become effective or close, and the date as of which it is
expected that holders of the Common Stock of record shall be
entitled to exchange their shares of the Common Stock for
securities, cash or other property deliverable upon such
reclassification, consolidation, merger, sale, transfer or share
exchange; provided that the failure to deliver such notice or any
defect therein or in the delivery thereof shall not affect the
validity of the corporate action required to be specified in such
notice. The Holder shall remain entitled to exercise this Warrant
during the period commencing on the date of such notice to the
effective date of the event triggering such notice except as may
otherwise be expressly set forth herein.

 

Section
4.             
Transfer of
Warrant.

 

a) Transferability. Subject to
compliance with any applicable securities laws and the conditions
set forth in Section 4(d) hereof and to the provisions of Section
4.1 of the Purchase Agreement, this Warrant and all rights
hereunder (including, without limitation, any registration rights)
are transferable, in whole or in part, upon surrender of this
Warrant at the principal office of the Company or its designated
agent, together with a written assignment of this Warrant
substantially in the form attached hereto duly executed by the
Holder or its agent or attorney and funds sufficient to pay any
transfer taxes payable upon the making of such transfer. Upon such
surrender and, if required, such payment, the Company shall execute
and deliver a new Warrant or Warrants in the name of the assignee
or assignees, as applicable, and in the denomination or
denominations specified in such instrument of assignment, and shall
issue to the assignor a new Warrant evidencing the portion of this
Warrant not so assigned, and this Warrant shall promptly be
cancelled. Notwithstanding anything
herein to the contrary, the Holder shall not be required to
physically surrender this Warrant to the Company unless the Holder
has assigned this Warrant in full, in which case, the Holder shall
surrender this Warrant to the Company within three (3) Trading Days
of the date on which the Holder delivers an assignment form to the
Company assigning this Warrant in full. The Warrant, if properly assigned in
accordance herewith, may be exercised by a new holder for the
purchase of Warrant Shares without having a new Warrant
issued.

 

b) New Warrants. This Warrant may
be divided or combined with other Warrants upon presentation hereof
at the aforesaid office of the Company, together with a written
notice specifying the names and denominations in which new Warrants
are to be issued, signed by the Holder or its agent or attorney.
Subject to compliance with Section 4(a), as to any transfer which
may be involved in such division or combination, the Company shall
execute and deliver a new Warrant or Warrants in exchange for the
Warrant or Warrants to be divided or combined in accordance with
such notice. All Warrants issued on transfers or exchanges shall be
dated the Initial Exercise Date and shall be identical with this
Warrant except as to the number of Warrant Shares issuable pursuant
thereto.

 

c) Warrant Register. The Company
shall register this Warrant, upon records to be maintained by the
Company for that purpose (the “Warrant Register”), in
the name of the record Holder hereof from time to time. The Company
may deem and treat the registered Holder of this Warrant as the
absolute owner hereof for the purpose of any exercise hereof or any
distribution to the Holder, and for all other purposes, absent
actual notice to the contrary.

 

6

 

 

d) Transfer
Restrictions. If, at the
time of the surrender of this Warrant
in connection with any transfer of this Warrant, the transfer of
this Warrant shall not be either (i) registered pursuant to an
effective registration
 statement under the
Securities Act and under
applicable state securities or blue sky laws or (ii) eligible for
resale without volume or manner-of-sale restrictions or current
public information requirements pursuant to Rule 144, the Company
may require, as a condition of allowing such transfer, that the
Holder or transferee of this Warrant, as the case may be, comply
with the provisions of Section 5.7 of the Purchase
Agreement.

 

e) Representation by the Holder.
The Holder, by the acceptance hereof, represents and warrants that
it is acquiring this Warrant and, upon any exercise hereof, will
acquire the Warrant Shares issuable upon such exercise, for its own
account and not with a view to or for distributing or reselling
such Warrant Shares or any part thereof in violation of the
Securities Act or any applicable state securities law, except
pursuant to sales registered or exempted under the Securities
Act.

 

Section
5.            
Miscellaneous.

 

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

 

b) Loss, Theft, Destruction or Mutilation
of Warrant. The Company covenants that upon receipt by the
Company of evidence reasonably satisfactory to it of the loss,
theft, destruction or mutilation of this Warrant or any stock
certificate relating to the Warrant Shares, and in case of loss,
theft or destruction, of indemnity or security reasonably
satisfactory to it (which, in the case of the Warrant, shall not
include the posting of any bond), and upon surrender and
cancellation of such Warrant or stock certificate, if mutilated,
the Company will make and deliver a new Warrant or stock
certificate of like tenor and dated as of such cancellation, in
lieu of such Warrant or stock certificate.

 

c) Saturdays, Sundays, Holidays,
etc. If the last or appointed day for the taking of any
action or the expiration of any right required or granted herein
shall not be a Business Day, then, such action may be taken or such
right may be exercised on the next succeeding Business
Day.

 

7

 

 

d) Authorized Shares.

 

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

 

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

 

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

 

e) Jurisdiction. All questions
concerning the construction, validity, enforcement and
interpretation of this Warrant shall be determined in accordance
with the provisions of the Purchase Agreement.

 

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

 

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

 

8

 

 

h) Notices. Any notice, request or
other document required or permitted to be given or delivered to
the Holder by the Company shall be delivered in accordance with the
notice provisions of the Purchase Agreement.

 

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

 

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

 

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

 

l) Amendment. This Warrant may be
modified or amended or the provisions hereof waived with the
written consent of the Company and the
Holder.

 

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

 

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

 

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

 

 

(Signature Page Follows)

 

 

9

 

 

 

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

 

 

	

GUIDED
THERAPEUTICS, INC.

 

 

	

By:__________________________________________

     Name:

     Title:

 

 

 

 

10

 

 

NOTICE
OF EXERCISE

 

TO:            

GUIDED
THERAPEUTICS, INC.

 

(1) The undersigned
hereby elects to purchase ________ Warrant Shares of the Company
pursuant to the terms of the attached Warrant (only if exercised in
full), and tenders herewith payment of the exercise price in full,
together with all applicable transfer taxes, if any.

 

(2) Payment shall take
the form of (check applicable box):

 

[ ] in
lawful money of the United States; or

 

[ ] if
permitted the cancellation of such number of Warrant Shares as is
necessary, in accordance with the formula set forth in subsection
2(c), to exercise this Warrant with respect to the maximum number
of Warrant Shares purchasable pursuant to the cashless exercise
procedure set forth in subsection 2(c).

 

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

_______________________________

 

 

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

 

_______________________________

 

_______________________________

 

_______________________________

 

(4)
Accredited
Investor. The undersigned is an “accredited
investor” as defined in Regulation D promulgated under the
Securities Act of 1933, as amended.

 

[SIGNATURE OF
HOLDER]

 

Name of
Investing Entity:
________________________________________________________________________

Signature of Authorized Signatory of Investing
Entity:
_________________________________________________

Name of
Authorized Signatory:
___________________________________________________________________

Title
of Authorized Signatory:
____________________________________________________________________

Date:
________________________________________________________________________________________

 

 

 

 

 

 

 

  EXHIBIT
B

 

ASSIGNMENT
FORM

 

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

 

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

 

	

Name:

	
 

	
 

	

(Please
Print)

 

	

Address:

	
 

	

 

Phone
Number:

Email
Address:

 

	

(Please
Print)

______________________________________

______________________________________

 

	

Dated:
_______________ __, ______

 

	
 

	

Holder’s
Signature:                                                                 

 

	
 

	

Holder’s
Address:

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