Document:

Filed by Bowne Pure Compliance

Exhibit 10.12

AMENDED AND RESTATED

A. SCHULMAN, INC.

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

WHEREAS, A. Schulman, Inc. (the “Company”) previously adopted the A. Schulman, Inc.
Supplemental Executive Retirement Plan, effective January 1, 2004 (the “Plan”); and

WHEREAS, since January 1, 2005, the Company administered the Plan in good faith compliance
with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (“Section
409A”); and

WHEREAS, as of the Effective Date (as defined below), only one participant in the Plan has not
yet received distribution of his Plan benefit; and

WHEREAS, the Company desires to amend the Plan as described herein to freeze the Plan as of
the Effective Date and to comply with Section 409A.

AGREEMENT

NOW, THEREFORE, the Plan is hereby amended and restated in its entirety effective as of this
30th day of December, 2008 (“Effective Date”) as follows:

1. Participation. Participation in the Plan shall be limited to any person who was
participating in the Plan as of the Effective Date and who had not yet received or begun to receive
payment of his or her Benefit (as defined below) pursuant to the Plan (a “Participant”). As of the
Effective Date, no individuals shall become eligible to participate in the Plan.

2. Benefit. The “Benefit” of any Participant under this Plan shall be equal to the amount
the Participant would have been entitled under the terms of the Plan as in effect immediately prior
to the Effective Date and calculated as provided therein. As of the Effective Date, no benefits
shall accrue under the Plan.

3. Distribution of Benefit. A Participant shall be entitled to distribution of his or her
Benefit in the form of a life annuity payable in substantially equal monthly installments beginning
on the first day of the first calendar month that begins on or after the date the Participant
attains age 65 (the “Normal Retirement Date”) and continues each month thereafter until the
Participant’s death. Notwithstanding the foregoing, if a Participant dies before his or her Normal
Retirement Date, the Participant’s beneficiary shall be entitled to receive payment of the
Participant’s Benefit in the form of a life annuity commencing within 90 days following the
Participant’s death.

 

 

 

4. Changes to the Time/Form of Payment. A Participant may change the time and/or form of
distribution of his or her Benefit subject to the following limitations:

(a) Prior to December 31, 2008. On or before December 31, 2008, a Participant may
change the time or form of distribution of his or her Benefit by
submitting a written deferral election to the Company on or before December 31, 2008;
provided, however, that: (i) such election will not apply to any amount otherwise payable in
calendar year 2008; and (ii) such election may not cause an amount to be paid in calendar year 2008
that would not otherwise be payable in calendar year 2008. After December 31, 2008, any election
made pursuant to this Section 4(a) may be changed or revoked only as provided in Section 4(b).

(b) After December 31, 2008. A Participant may change the time or form of
distribution of his or her Benefit by submitting a written deferral election to the Company;
provided, however, that (i) any such change to an existing election may not take effect until at
least 12 months after the date on which the election is submitted; (ii) the payment with respect to
which such election is made must be deferred (other than due to death) for a period of at least
five years from the date such payment would otherwise have been made (or, in the case of
installment payments treated as a single payment, five years from the date the first amount was
scheduled to be paid); and (iii) any election affecting a distribution at a specified time must be
made not less than 12 months before the date the amount is scheduled to be paid (or, in the case of
installment payments treated as a single payment, 12 months before the date the first amount was
scheduled to be paid).

5. Six-Month Distribution Delay. Notwithstanding anything in this Plan to the contrary, if
a Participant is a “specified employee” (within the meaning of Section 409A and as determined under
the Company’s policy for determining specified employees) and the Participant is entitled to
payment of a Benefit under this Plan upon a “separation from service” (within the meaning of
Section 409A) that is required to be delayed pursuant to Section 409A, then such payment shall not
be paid or provided (or begin to be paid or provided) until the first business day of the seventh
month following the date of the Participant’s separation from service (or, if earlier, the date of
the Participant’s death). The first payment that can be made to the Participant following such
postponement period shall include the cumulative amount of any payments that could not be
distributed during such postponement period due to the application of Section 409A.

6. Taxes. All distributions provided for hereunder shall be subject to applicable
withholding and other deductions as shall be required of the Company under any applicable local,
state or federal law.

7. Administration. This Plan shall be administered by the Company or its designee, which
shall have all powers necessary for the administration the Plan. Any determinations by the
administrator in carrying out its duties shall be made in its sole discretion. The administrator
shall have no liability to any Participant with respect to the administration of this Plan.

8. Claims Procedure. Any claim for benefits by a Participant under this Plan shall be
reviewed by the administrator using the same procedures described in any qualified retirement plan
maintained by the Company.

 

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9. Miscellaneous.

(a) The Company reserves the right to amend or terminate the Plan at any time, without the
consent of the Participants; provided, however, that no such amendment or termination shall reduce
a Participant’s right to payment of his or her Benefit without the Participant’s consent.

(b) This Plan represents nothing more than an unfunded, unsecured promise to pay money or
property in the future and no Participant shall have any greater claim to payment of a Benefit
under this Plan than an unsecured general creditor of the Company. Nothing herein shall be
construed as giving any Participant any right to specific property or assets of the Company. The
Company may establish one or more trusts for the purpose of paying Benefits under this Plan,
consistent with the foregoing.

(c) Each Participant may designate a beneficiary (or beneficiaries) to receive distributions
under the Plan in the event of the Participant’s death. If a Participant does not designate a
beneficiary, then such Participant’s beneficiary shall be his or her spouse and, if no spouse
exists, his or her estate.

(d) This Plan shall be governed by the laws of the State of Ohio, except to the extent that
Federal law is controlling.

(e) Headings in this Plan are for convenience only and shall not affect the meaning,
construction or interpretation of the Plan. As used herein unless the context requires otherwise,
words in the singular may be construed to be in the plural and words in any gender may be construed
to be in any other gender.

(f) This Plan is intended to comply with the requirements of Section 409A and, to the maximum
extent permitted by law, shall be interpreted, administered and operated consistent with this
intent. Nothing herein shall be construed as the entitlement to or the guarantee of any particular
tax treatment to a Participant. None of the Company, the administrator or any other person shall
have any liability in the event that this Plan fails to comply with the requirements of Section
409A.

IN WITNESS WHEREOF, the Company has caused this Plan to be executed by its duly authorized
officer as of the date set forth above.

	 	 	 	 	 	 	 	 	 
	 	 	A. SCHULMAN, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Paul F. DeSantis	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Its:
	 	Vice President, Chief Financial Officer and Treasurer	 	 

 

3Filed by Bowne Pure Compliance

Exhibit 10.6

THE SECURITIES REPRESENTED HEREBY HAVE BEEN ACQUIRED BY THE HOLDER HEREOF FOR ITS OWN ACCOUNT FOR
INVESTMENT WITH NO INTENTION OF MAKING OR CAUSING TO BE MADE A PUBLIC DISTRIBUTION OF ALL OR ANY
PORTION THEREOF. SUCH SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 OR ANY
STATE SECURITIES LAWS AND MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE
TRANSFERRED, EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT FILED UNDER SUCH ACT AND ANY
APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO
IRVINE SENSORS CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED.

			
	 	 	 
	No.      
	 	                                        , 20     

IRVINE SENSORS CORPORATION

WARRANT TO PURCHASE COMMON STOCK

Void after                                         , 20     

IRVINE SENSORS CORPORATION, a Delaware corporation (the “Company”), hereby
certifies that, for value received, J.P. Turner Partners, LP (including any permitted successors
and assigns, “Holder”), is entitled, subject to the terms set forth below, to purchase from
the Company at any time or from time to time during the Exercise Period, defined below, and prior
to 5:00 PM Central time, on                                         , 20      (the “Expiration Date”), fully paid and
nonassessable shares of Common Stock (the “Warrant Shares”) under the terms set forth
herein.

1. Number of Warrant Shares; Exercise Price. This Warrant shall evidence the right of
the Holder to purchase up to                      Warrant Shares at an exercise price per Warrant Share of
$      per share, subject to adjustment as provided in Section 6 below (the “Exercise
Price”).

2. Definitions. As used herein the following terms, unless the context otherwise
requires, have the following respective meanings:

(a) The term “Common Stock” shall mean the common stock, $0.01 par value per share, of
the Company.

(b) The term “Company” shall include any company which shall succeed to or assume the
obligations of the Company hereunder.

(c) The term “Corporate Transaction” shall mean (i) a sale, transfer or conveyance of
all or substantially all of the assets of the Company; (ii) a consolidation of the Company with, or
merger of the Company with or into, another corporation or other business entity in which the
stockholders of the Company immediately prior to such consolidation or merger own less than 50% of
the voting power of the surviving entity immediately after such
consolidation or merger; or (iii) any transaction or series of related transactions to which
the Company is a party in which in excess of 50% of the Company’s voting power is transferred,
excluding any consolidation or merger effected exclusively to change the domicile of the Company
and excluding any transaction for the primary purpose of raising capital or acquiring another
corporation or business entity.

 

 

 

(d) The term “Stock” shall mean (i) Common Stock or (ii) any other class of stock
resulting from successive changes or reclassifications of such Common Stock consisting solely of
changes in par value, or from par value to no par value, or from no par value to par value.

3. Exercise Date; Expiration. Subject to the terms hereof, this Warrant may be
exercised by the Holder at any time or from time to time before the Expiration Date (the
“Exercise Period”).

4. Exercise of Warrant; Partial Exercise. This Warrant may be exercised in full by
the Holder by surrender of this Warrant, together with the Holder’s duly executed form of
subscription attached hereto as Exhibit A, to the Company at its principal office,
accompanied by payment, in cash or by certified or official bank check payable to the order of the
Company, of the aggregate exercise price (as determined above) of the number of Warrant Shares to
be purchased hereunder. The exercise of this Warrant pursuant to this Section 4 shall be deemed to
have been effected immediately prior to the close of business on the business day on which this
Warrant is surrendered to the Company as provided in this Section 4, and at such time the person in
whose name any certificate for Warrant Shares shall be issuable upon such exercise shall be deemed
to be the record holder of such Warrant Shares for all purposes. No later than seven (7) business
days after the exercise of this Warrant, the Company at its expense will cause to be issued in the
name of and delivered to the Holder, or as the Holder may direct, a certificate or certificates for
the number of fully paid and nonassessable full shares of Warrant Shares to which the Holder shall
be entitled on such exercise, together with cash, in lieu of any fraction of a share, equal to such
fraction of the fair market value (as defined in Section 5(c) below) of one full Warrant Share as
of the close of business on the business day on which this Warrant is surrendered, and, if
applicable, a new warrant evidencing the balance of the shares remaining subject to the Warrant.

5. Net Issuance.

(a) Cashless Exercise. In the event that the Company has not registered the Warrant
Shares issued or issuable upon the exercise of this Warrant for resale under the Securities Act of
1933, as amended, on or prior to the anniversary (the “Net Issuance Date”) of the issuance
date of this Warrant (it being understood that the Company is under no obligation to effect such
registration), the Holder shall have the right to convert this Warrant (the “Conversion
Right”) into Warrant Shares as provided in this Section 5 from time to time after the Net
Issuance Date until the Expiration Date. Upon exercise of the Conversion Right with respect to
shares subject to the Warrant (the “Converted Warrant Shares”), the Company shall deliver
to the Holder (without payment by the Holder of any exercise price or any cash or other
consideration) that number of fully paid and nonassessable Warrant Shares computed using the
following formula:

 

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X = Y (A — B)
             A

			
	Where:	 	X = the number of Warrant Shares to be delivered to the Holder;
 
Y = the number of Converted Warrant Shares;

A = the fair market value of one Warrant Share on the Conversion Date (as defined below); and

B = the Exercise Price (as adjusted on the Conversion Date).

No fractional shares shall be issuable upon exercise of the Conversion Right, and if the
number of shares to be issued (determined in accordance with the foregoing formula) is other than a
whole number, the Company shall pay to the Holder an amount in cash equal to the fair market value
of the resulting fractional share on the Conversion Date (as defined below). Shares issued
pursuant to the Conversion Right shall be treated as if they were issued upon the exercise of the
Warrant.

(b) Method of Exercise. The Conversion Right may be exercised by the Holder by the
surrender of the Warrant at the principal office of the Company together with a written statement
specifying that the Holder thereby intends to exercise the Conversion Right and indicating the
total number of shares under the Warrant that the Holder is exercising through the Conversion
Right. Such conversion shall be effective upon receipt by the Company of the Warrant together with
the aforesaid written statement, or on such later date as is specified therein (the “Conversion
Date”). Certificates for the shares issuable upon exercise of the Conversion Right shall be
delivered to the Holder within seven (7) business days following the Conversion Date and, if
applicable, a new warrant evidencing the balance of the shares remaining subject to the Warrant
shall also be delivered to the Holder.

(c) Determination of Fair Market Value. For purposes of this Section 5, fair market
value of a Warrant Share on the Conversion Date shall be determined as follows:

(i) If the Common Stock is traded on a national securities exchange or the Nasdaq Capital
Market, the fair market value of a Warrant Share shall be deemed to be the closing selling price of
the Common Stock on the stock exchange or market determined by the Board to be the primary market
for the Common Stock as of the trading day immediately prior to the Conversion Date, as such prices
are officially quoted in the composite tape of transactions on such exchange or market;

(ii) If the Common Stock is traded over-the-counter or in the “pink sheets”, the fair market
value of a Warrant Share shall be deemed to be the closing bid price (or, if such information is
available, the closing selling price, or, in the case of the “pink sheets,” the most recent bid
price) of the Common Stock as of the trading day immediately prior to the Conversion Date; and

(iii) If there is no public market for the Common Stock, then the fair market value of a
Warrant Share shall be determined by the Board of Directors of the Company
in good faith and, upon request of the Holder, the Board (or a representative thereof) shall,
as promptly as reasonably practicable, but in any event not later than 15 days after such request,
notify the Holder of the Fair Market Value per share of Common Stock.

 

3

 

6. Adjustments to Exercise Price and Number of Warrant Shares. The number and kind of
Warrant Shares (or any shares of stock or other securities which may be) issuable upon the exercise
of this Warrant and the Exercise Price hereunder shall be subject to adjustment from time to time
upon the happening of certain events, as follows:

(a) Splits and Subdivisions. In the event the Company should at any time or from time
to time fix a record date for the effectuation of a split or subdivision of the outstanding shares
of Common Stock into a greater number of shares, then, as of such record date (or the date of such
split or subdivision if no record date is fixed), the Exercise Price shall be appropriately
decreased and the number of Warrant Shares for which this Warrant is exercisable shall be
appropriately increased in accordance with Section 6(h) hereof.

(b) Combination of Shares. If the number of shares of Common Stock outstanding at any
time after the date hereof is decreased by a combination of the outstanding shares of Common Stock,
the Exercise Price shall be appropriately increased and the number of Warrant Shares for which this
Warrant is exercisable shall be appropriately decreased in accordance with Section 6(h) hereof.

(c) Dividends in Common Stock or Common Stock Equivalents. In the event the Company
should at any time or from time to time fix a record date for the determination of the holders of
Common Stock entitled to receive a dividend or other distribution payable in additional shares of
Common Stock or other securities or rights convertible into, or entitling the holder thereof to
receive directly or indirectly, additional shares of Common Stock (hereinafter referred to as the
“Common Stock Equivalents”) without payment of any consideration by such holder for the
additional shares of Common Stock or Common Stock Equivalents, then, as of such record date (or the
date of such distribution if no record date is fixed), the Holder hereof shall, upon the exercise
of this Warrant, be entitled to receive, in addition to the number of shares of Common Stock
receivable thereupon, and without payment of any additional consideration therefor, the amount of
Common Stock and Common Stock Equivalents which such Holder would hold on the date of such exercise
had such Holder been the holder of record of such Common Stock as of the date on which holders of
Common Stock received or became entitled to receive such shares of Common Stock or Common Stock
Equivalents.

(d) Reclassification or Reorganization. If the Warrant Shares issuable upon the
exercise of this Warrant shall be changed into the same or different number of shares of any class
or classes of stock, whether by capital reorganization, reclassification or otherwise (other than a
split or subdivision provided for in Section 6(a) above or stock dividend provided for in Section
6(b) above or a combination of shares provided for in Section 6(c) above, or a reorganization,
merger or consolidation provided for in Section 6(e) below), then and in each such event the Holder
shall be entitled to receive upon the exercise of this Warrant the kind and amount of shares of
stock and other securities and property receivable upon such reorganization, reclassification or
other change, to which a holder of the number of Warrant Shares issuable upon the exercise of this
Warrant would have received if this Warrant had been exercised
immediately prior to such reorganization, reclassification or other change, all subject to
further adjustment as provided herein.

 

4

 

(e) Merger or Consolidation. If at any time there shall be a capital reclassification
or reorganization of the Warrant Shares or a Corporate Transaction (other than a subdivision,
combination, reclassification or exchange of shares provided for elsewhere in this Section 6) of
the Company, then as a part of such reorganization or Corporate Transaction, lawful and adequate
provision shall be made so that the Holder shall thereafter be entitled to receive upon the
exercise of this Warrant, the number of shares of stock or other securities or property of the
Company, resulting from such reorganization, recapitalization or Corporate Transaction to which a
holder of the number of Warrant Shares issuable upon the exercise of this Warrant would have
received if this Warrant had been exercised immediately prior to such reorganization or Corporate
Transaction. In any such case, the Company will make lawful and appropriate provision to insure
that the provisions of this Section 6(e) hereof will thereafter be applicable as nearly as may be
in relation to any shares of stock or securities thereafter deliverable upon the exercise of this
Warrant. The Company shall not effect any such Corporate Transaction unless prior to or
simultaneously with the consummation thereof the successor corporation (if other than the Company)
resulting from such Corporate Transaction or the corporation purchasing or acquiring such assets or
other appropriate corporation or entity shall assume the obligation to deliver to the Holder, at
the last address of the Holder appearing on the books of the Company, such shares of stock,
securities or assets as, in accordance with the foregoing provisions, the Holder may be entitled to
purchase, and the other obligations under this Warrant. The provisions of this Section 6(e) shall
similarly apply to successive reorganizations, reclassifications, or Corporate Transactions.

(f) Adjustment in Number of Warrant Shares. Upon each adjustment of the Exercise
Price pursuant to the provisions of this Section 6, the number of Warrant Shares issuable upon the
exercise of this Warrant shall be adjusted to the nearest full amount by multiplying a number equal
to the Exercise Price in effect immediately prior to such adjustment by the number of Warrant
Shares issuable upon exercise of the Warrants immediately prior to such adjustment and dividing the
product so obtained by the adjusted Exercise Price.

(g) Notice of Record Dates; Adjustments. In the event of a Corporate Transaction, the
Company shall provide to the Holder ten (10) days advance written notice of such Corporate
Transaction. The Company shall promptly notify the Holder in writing of each adjustment or
readjustment of the Exercise Price and the number of Warrant Shares issuable upon the exercise of
this Warrant. Such notice shall state the adjustment or readjustment and show in reasonable detail
the facts on which that adjustment or readjustment is based.

7. Replacement of Warrants. On receipt by the Company of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and, in
the case of any such loss, theft or destruction of this Warrant, on delivery of an indemnity
agreement reasonably satisfactory in form and amount to the Company or, in the case of any such
mutilation, on surrender and cancellation of such Warrant, the Company at its expense will execute
and deliver to the Holder, in lieu thereof, a new Warrant of like tenor.

 

5

 

8. No Rights or Liability as a Stockholder. This Warrant does not entitle the Holder
to any voting rights or other rights as a stockholder of the Company. No provisions, in the
absence of affirmative action by the Holder to purchase Warrant Shares, and no enumeration of
the rights or privileges of the Holder contained herein, shall give rise to any liability of the
Holder as a stockholder of the Company.

9. Miscellaneous.

(a) Transfer of Warrant; Permitted Designees. The Holder agrees not to make any
disposition of this Warrant, the Warrant Shares or any rights hereunder without the prior written
consent of the Company. Any such permitted transfer must be made by the Holder in person or by
duly authorized attorney, upon delivery of this Warrant and the form of assignment attached hereto
as Exhibit B to any such permitted transferee. As a condition precedent to such transfer,
the transferee shall sign an investment letter in form and substance satisfactory to the Company.
Subject to the foregoing, the provisions of this Warrant shall inure to the benefit of and be
binding upon any successor to the Company and shall extend to any holder hereof. Notwithstanding
anything contained herein, the Company shall, upon written instructions to be delivered to the
Company within fifteen (15) business days following the date hereof, transfer all or a portion of
this Warrant to officers, directors, employees and other registered agents or associated persons of
the Holder (collectively, “Permitted Designees”) in accordance with this Section 9;
provided, however, the Company shall not be required to issue such Warrants to any person who is
not an “accredited investor” within the meaning of Regulation D promulgated under the Securities
Act of 1933, as amended, and provided, further, that Holder provides an opinion of counsel
reasonably satisfactory to the Company that such transfer complies with applicable Federal and
state securities laws. Each Permitted Designee shall be required to execute fully and completely
the Investor Representation Letter in the form attached hereto as Exhibit C prior to the
issuance of the Warrant to such person.

(b) Restrictive Legend. Each certificate for Warrant Shares shall bear a restrictive
legend in substantially the form as follows, together with any additional legend required by (a)
any applicable state securities laws and (b) any securities exchange upon which such Warrant Shares
may, at the time of such exercise, be listed:

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. THEY MAY NOT BE
SOLD, OFFERED FOR SALE, PLEDGED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN
EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND ANY APPLICABLE STATE SECURITIES
LAWS, OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO IRVINE SENSORS CORPORATION
THAT SUCH REGISTRATION IS NOT REQUIRED.”

(c) Titles and Subtitles. The titles and subtitles used in this Warrant are for
convenience only and are not to be considered in construing or interpreting this Warrant.

(d) Notices. Any notice required or permitted to be given to a party pursuant to the
provisions of this Warrant shall be in writing and shall be effective and deemed given to such
party under this Warrant on the earliest of the following: (i) the date of personal delivery; (ii)
the date of transmission by facsimile, addressed to the other party at its facsimile number,
with confirmation of transmission; (iii) the next business day after deposit with an overnight
courier for United States deliveries; or (iv) five (5) business days after deposit in the United
States mail by registered or certified mail (return receipt requested) for United States
deliveries. All notices not delivered personally or by facsimile will be sent with postage and/or
other charges prepaid and properly addressed to such party at the address set forth on the
signature page hereto, or at such other address as such party may designate by ten (10) days
advance written notice to the other party hereto. Notices to the Company will be marked
“Attention: Chief Financial Officer.”

 

6

 

(e) Attorneys’ Fees. If any action at law or in equity is necessary to enforce or
interpret the terms of this Warrant, the prevailing party shall be entitled to reasonable
attorneys’ fees, costs and disbursements in addition to any other relief to which such party may be
entitled.

(f) Amendments and Waivers. Any term of this Warrant may be amended and the
observance of any term of this Warrant may be waived (either generally or in a particular instance
and either retroactively or prospectively) with the written consent of the Holder and the Company.
Any amendment or waiver effected in accordance with this Section 9(f) shall be binding upon the
Holder of this Warrant (and of any securities into which this Warrant is convertible), each future
holder of all such securities, and the Company.

(g) Severability. If one or more provisions of this Warrant are held to be
unenforceable under applicable law, such provision shall be excluded from this Warrant and the
balance of the Warrant shall be interpreted as if such provision were so excluded and shall be
enforceable in accordance with its terms.

(h) Governing Law. This Warrant shall be governed by and construed and enforced in
accordance with the laws of the State of Delaware, without giving effect to its conflicts of laws
principles.

(i) Counterparts. This Warrant may be executed in any number of counterparts, each of
which shall be deemed an original, but all of which together shall constitute one and the same
instrument.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

7

 

In Witness Whereof, the Company has caused this Warrant to be executed by its duly
authorized officer as of the date first written above.

	 	 	 	 	 
	 	IRVINE SENSORS CORPORATION

a Delaware corporation

 	 
	 	By:  	 	 
	 	 	Name:  	John C. Carson 	 
	 	 	Title:  	President & Chief Executive Officer 	 
	 

 

			
	Address:	 	3001 Red Hill Avenue

Building 4, Suite 108

Costa Mesa, CA 92626

 

8

 

EXHIBIT A

FORM OF SUBSCRIPTION

(To be signed only on exercise of Warrant)

			
	To:	 	IRVINE SENSORS CORPORATION

The undersigned, pursuant to the provisions set forth in the attached Warrant, hereby
irrevocably elects to (a) purchase       shares of the Common Stock covered by such Warrant and
herewith makes payment of $                    , representing the full purchase price for such shares at the
price per share provided for in such Warrant, or (b) exercise such Warrant for the issuance of
      shares of Common Stock in exchange for the surrender of the right to purchase       shares
of Common Stock under the Warrant pursuant to the Net Issue Exercise provisions of Section 5
of such Warrant.

Please issue a certificate or certificates representing       shares of Common Stock in the
name of the undersigned or in such other name or names as are specified below:

 

(Name)
 
 

 

 

(Address)

The undersigned represents that the undersigned is an “accredited investor” as defined in
Regulation D promulgated under the Securities Act of 1933, as amended, and that the aforesaid
shares are being acquired for the account of the undersigned for investment 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 reselling such shares, all except as in compliance with applicable
securities laws.

 

  
(Signature must conform in all respects to name of
the Holder as specified on the face of the Warrant)

  
(Print Name)

  
  
(Address)

Dated:                                         

 

 

 

EXHIBIT B

FORM OF ASSIGNMENT

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

For Value Received, the foregoing Warrant and all rights evidenced thereby are hereby
assigned to:

	 	 	 
	Name:
	 	 
	 

	 	 
	 

	 	(Please Print)
	 
	 	 
	Address:
	 	 
	 

	 	 
	 

	 	(Please Print)

Dated:                                         , 20     

Holder’s

Signature:                                                                                 

Holder’s

Address:                                                                                 

NOTE: The signature to this Assignment must correspond with the name as it appears on the face of
the Warrant, without alteration or enlargement or any change whatever. Officers of corporations
and those acting in a fiduciary or other representative capacity should file proper evidence of
authority to assign the foregoing Warrant.

 

 

 

EXHIBIT C

FORM OF INVESTOR REPRESENTATION LETTER

DATE:                                         

Irvine Sensors Corporation

3001 Red Hill Avenue

Building 4, Suite 108

Costa Mesa, CA 92626

Gentlemen:

In connection with my receipt of warrants (“Warrants”) to purchase the number of shares of
common stock referred to below, I hereby represent, warrant and covenant as follows:

1. Check each one which is applicable:

	 	 	      I am an “accredited investor” within the meaning of Regulation D promulgated
under the Securities Act of 1933 (the “Act”);

	 
	 	 	      I am able to fend for myself, can bear the economic risk of my investment and
have such knowledge and experience in financial, tax, and business matters so as to utilize
information made available to me in order to evaluate the merits and risks of an investment
decision with respect thereto, or I have a preexisting personal or business relationship with the
Company or one or more of the officers or directors of the Company;

	 
	2.	 	      I have had the opportunity to ask questions and receive and review such answers
and information concerning Irvine Sensors Corporation (the “Issuer”) as I have deemed
pertinent;

	 
	3.	 	      I am not relying on the Issuer or J.P. Turner & Company, L.L.C. respecting the
tax and other economic considerations of an investment in the Issuer;

	 
	4.	 	      I am acquiring the Warrants and the underlying securities related thereto
solely for my own account for investment and not with a view to resale or distribution. I
acknowledge that neither the Warrants nor the underlying securities have been registered under
the Act or any state securities laws and may not be resold except pursuant to an effective
registration statement thereunder or an exemption therefrom;

  
Name:

Holder of Warrants to purchase       shares of common stock of Irvine Sensors
Corporation pursuant to the terms of the Common Stock
Purchase Warrant of even date herewith

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