Document:

Form of Warrant A

     

    EXHIBIT
      10.02

     

    THIS
      WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT
      HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY
      STATE SECURITIES LAWS. THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE
      OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED
      IN
      THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS WARRANT UNDER
      SAID
      ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY
      SATISFACTORY TO ELINEAR, INC. THAT SUCH REGISTRATION IS NOT
      REQUIRED.

     

    Right
      to
      Purchase [_______] Shares of Common Stock of

     

    eLinear,
      Inc.

     

    (subject
      to adjustment as provided herein)

     

    COMMON
      STOCK PURCHASE WARRANT

     

    No.
      _________________                                                                                                                       Issue
      Date: July 14, 2005

     

    eLINEAR,
      INC., a corporation organized under the laws of the State of Delaware, hereby
      certifies that, for value received, [___________], or assigns (the "Holder"),
      is
      entitled, subject to the terms set forth below, to purchase from the Company
      (as
      defined herein) from and after six (6) months following the Issue Date of this
      Warrant and at any time or from time to time before 5:00 p.m., New York time,
      through the close of business January 14, 2013 (the "Expiration Date"), up
      to
      [__________] fully paid and nonassessable shares of Common Stock (as hereinafter
      defined), at the applicable Exercise Price per share (as defined below). The
      number and character of such shares of Common Stock and the applicable Exercise
      Price per share are subject to adjustment as provided herein.

     

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

     

    (a) The
      term
      "Company" shall include eLinear, Inc. and any corporation which shall succeed,
      or assume the obligations of, eLinear, Inc. hereunder. 

     

    (b) The
      term
      "Common Stock" includes (i) the Company's Common Stock, par value $0.02 per
      share; and (ii) any other securities into which or for which any of the
      securities described in (a) may be converted or exchanged pursuant to a plan
      of
      recapitalization, reorganization, merger, sale of assets or
      otherwise.

     

    (c) The
      term
      "Other Securities" refers to any stock (other than Common Stock) and other
      securities of the Company or any other person (corporate or otherwise) which
      the
      holder of the Warrant at any time shall be entitled to receive, or shall have
      received, on the exercise of the Warrant, in lieu of or in addition to Common
      Stock, or which at any time shall be issuable or shall have been issued in
      exchange for or in replacement of Common Stock or Other Securities pursuant
      to
      Section 4 or otherwise. 

     

    (d) The
      "Exercise Price" applicable under this Warrant shall be $1.50 per share of
      Common Stock.

     

    1.  Exercise
      of Warrant.
      

     

    1.1  Number
      of Shares Issuable upon Exercise.
      From
      and after the date hereof through and including the Expiration Date, the Holder
      shall be entitled to receive, upon exercise of this Warrant in whole or in
      part,
      by delivery of an original or fax copy of an exercise notice in the form
      attached hereto as Exhibit A (the "Exercise Notice"), shares of Common Stock
      of
      the Company, subject to adjustment pursuant to Section 4.

     

    1.2  Fair
      Market Value.
      For
      purposes hereof, the "Fair Market Value" of a share of Common Stock as of a
      particular date (the "Determination Date") shall mean: 

     

    (a)  If
      the
      Common Stock is traded on the American Stock Exchange or another national
      exchange or is quoted on the National or SmallCap Market of The Nasdaq Stock
      Market, Inc. ("Nasdaq"), then the closing or last sale price, respectively,
      reported for the last business day immediately preceding the Determination
      Date.

     

    (b)  If
      the
      Common Stock is not traded on the American Stock Exchange or another national
      exchange or on the Nasdaq but is traded on the NASD OTC Bulletin Board, then
      the
      mean of the average of the closing bid and asked prices reported for the last
      business day immediately preceding the Determination Date.

     

    (c)  Except
      as
      provided in clause (d) below, if the Common Stock is not publicly traded, then
      as the Holder and the Company agree or in the absence of agreement by
      arbitration in accordance with the rules then in effect of the American
      Arbitration Association, before a single arbitrator to be chosen from a panel
      of
      persons qualified by education and training to pass on the matter to be
      decided.

     

    (d)  If
      the
      Determination Date is the date of a liquidation, dissolution or winding up,
      or
      any event deemed to be a liquidation, dissolution or winding up pursuant to
      the
      Company's charter, then all amounts to be payable per share to holders of the
      Common Stock pursuant to the charter in the event of such liquidation,
      dissolution or winding up, plus all other amounts to be payable per share in
      respect of the Common Stock in liquidation under the charter, assuming for
      the
      purposes of this clause (d) that all of the shares of Common Stock then issuable
      upon exercise of the Warrant are outstanding at the Determination
      Date.

     

    1.3  Company
      Acknowledgment.
      The
      Company will, at the time of the exercise of the Warrant, upon the request
      of
      the holder hereof acknowledge in writing its continuing obligation to afford
      to
      such holder any rights to which such holder shall continue to be entitled after
      such exercise in accordance with the provisions of this Warrant. If the holder
      shall fail to make any such request, such failure shall not affect the
      continuing obligation of the Company to afford to such holder any such rights.
      

     

    1.4  Trustee
      for Warrant Holders.
      In the
      event that a bank or trust company shall have been appointed as trustee for
      the
      holders of the Warrant pursuant to Subsection 3.2, such bank or trust company
      shall have all the powers and duties of a warrant agent (as hereinafter
      described) and shall accept, in its own name for the account of the Company
      or
      such successor person as may be entitled thereto, all amounts otherwise payable
      to the Company or such successor, as the case may be, on exercise of this
      Warrant pursuant to this Section 1.

     

    2.  Procedure
      for Exercise.

     

    2.1  Delivery
      of Stock Certificates, Etc., on Exercise.
      The
      Company agrees that the shares of Common Stock purchased upon exercise of this
      Warrant shall be deemed to be issued to the Holder as the record owner of such
      shares as of the close of business on the date on which this Warrant shall
      have
      been surrendered and payment made for such shares in accordance herewith. As
      soon as practicable after the exercise of this Warrant in full or in part,
      and
      in any event within three (3) business days thereafter, the Company at its
      expense (including the payment by it of any applicable issue taxes) will cause
      to be issued in the name of and delivered to the Holder, or as such Holder
      (upon
      payment by such Holder of any applicable transfer taxes) may direct in
      compliance with applicable securities laws, a certificate or certificates for
      the number of duly and validly issued, fully paid and nonassessable shares
      of
      Common Stock (or Other Securities) to which such Holder shall be entitled on
      such exercise, plus, in lieu of any fractional share to which such holder would
      otherwise be entitled, cash equal to such fraction multiplied by the then Fair
      Market Value of one full share, together with any other stock or other
      securities and property (including cash, where applicable) to which such Holder
      is entitled upon such exercise pursuant to Section 1 or otherwise.

     

    2.2  Exercise.
      Payment
      may be made either (i) in cash or by certified or official bank check payable
      to
      the order of the Company equal to the applicable aggregate Exercise Price,
      (ii)
      by delivery of the Warrant, or shares of Common Stock and/or Common Stock
      receivable upon exercise of the Warrant in accordance with Section (b) below,
      or
      (iii) by a combination of any of the foregoing methods, for the number of Common
      Stock specified in such Exercise Notice (as such exercise number shall be
      adjusted to reflect any adjustment in the total number of shares of Common
      Stock
      issuable to the Holder per the terms of this Warrant) and the Holder shall
      thereupon be entitled to receive the number of duly authorized, validly issued,
      fully-paid and non-assessable shares of Common Stock (or Other Securities)
      determined as provided herein. Notwithstanding any provisions herein to the
      contrary, if the Fair Market Value of one share of Common Stock is greater
      than
      the Exercise Price (at the date of calculation as set forth below), in lieu
      of
      exercising this Warrant for cash, the Holder may elect to receive shares equal
      to the value (as determined below) of this Warrant (or the portion thereof
      being
      exercised) by surrender of this Warrant at the principal office of the Company
      together with the properly endorsed Exercise Notice in which event the Company
      shall issue to the Holder a number of shares of Common Stock computed using
      the
      following formula:

     

    X=Y (A-B)

                        A

     

    Where
      X
      = the
      number of shares of Common Stock to be issued to the Holder

     

    Y
      = the
      number of shares of Common Stock purchasable under the Warrant or, if only
      a
      portion of the Warrant is being exercised, the portion of the Warrant being
      exercised (at the date of such calculation)

     

    A
      = the
      Fair
      Market Value of one share of the Common Stock (at the date of such
      calculation)

     

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

     

    3.  Effect
      of Reorganization, Etc.; Adjustment of Exercise Price.

     

    3.1  Reorganization,
      Consolidation, Merger, Etc.
      In case
      at any time or from time to time, the Company shall (a) effect a reorganization,
      (b) consolidate with or merge into any other person, or (c) transfer all or
      substantially all of its properties or assets to any other person under any
      plan
      or arrangement contemplating the dissolution of the Company, then, in each
      such
      case, as a condition to the consummation of such a transaction, proper and
      adequate provision shall be made by the Company whereby the Holder of this
      Warrant, on the exercise hereof as provided in Section 1 at any time after
      the
      consummation of such reorganization, consolidation or merger or the effective
      date of such dissolution, as the case may be, shall receive, in lieu of the
      Common Stock (or Other Securities) issuable on such exercise prior to such
      consummation or such effective date, the stock and other securities and property
      (including cash) to which such Holder would have been entitled upon such
      consummation or in connection with such dissolution, as the case may be, if
      such
      Holder had so exercised this Warrant, immediately prior thereto, all subject
      to
      further adjustment thereafter as provided in Section 4.

     

    3.2  Dissolution.
      In the
      event of any dissolution of the Company following the transfer of all or
      substantially all of its properties or assets, the Company, concurrently with
      any distributions made to holders of its Common Stock, shall at its expense
      deliver or cause to be delivered to the Holder the stock and other securities
      and property (including cash, where applicable) receivable by the Holder of
      the
      Warrant pursuant to Section 3.1, or, if the Holder shall so instruct the
      Company, to a bank or trust company specified by the Holder and having its
      principal office in New York, NY as trustee for the Holder of the
      Warrant.

     

    3.3  Continuation
      of Terms.
      Upon
      any reorganization, consolidation, merger or transfer (and any dissolution
      following any transfer) referred to in this Section 3, this Warrant shall
      continue in full force and effect and the terms hereof shall be applicable
      to
      the shares of stock and other securities and property receivable on the exercise
      of this Warrant after the consummation of such reorganization, consolidation
      or
      merger or the effective date of dissolution following any such transfer, as
      the
      case may be, and shall be binding upon the issuer of any such stock or other
      securities, including, in the case of any such transfer, the person acquiring
      all or substantially all of the properties or assets of the Company, whether
      or
      not such person shall have expressly assumed the terms of this Warrant as
      provided in Section 4. In the event this Warrant does not continue in full
      force
      and effect after the consummation of the transactions described in this Section
      3, then the Company's securities and property (including cash, where applicable)
      receivable by the Holders of the Warrant will be delivered to Holder or the
      trustee as contemplated by Section 3.2.

     

    4.  Extraordinary
      Events Regarding Common Stock.
      In the
      event that the Company shall (a) issue additional shares of the Common Stock
      as
      a dividend or other distribution on outstanding Common Stock, (b) subdivide
      its
      outstanding shares of Common Stock, or (c) combine its outstanding shares of
      the
      Common Stock into a smaller number of shares of the Common Stock, then, in
      each
      such event, the Exercise Price shall, simultaneously with the happening of
      such
      event, be adjusted by multiplying the then Exercise Price by a fraction, the
      numerator of which shall be the number of shares of Common Stock outstanding
      immediately prior to such event and the denominator of which shall be the number
      of shares of Common Stock outstanding immediately after such event, and the
      product so obtained shall thereafter be the Exercise Price then in effect.
      The
      Exercise Price, as so adjusted, shall be readjusted in the same manner upon
      the
      happening of any successive event or events described herein in this Section
      4.
      The number of shares of Common Stock that the holder of this Warrant shall
      thereafter, on the exercise hereof as provided in Section 1, be entitled to
      receive shall be increased to a number determined by multiplying the number
      of
      shares of Common Stock that would otherwise (but for the provisions of this
      Section 4) be issuable on such exercise by a fraction of which (a) the numerator
      is the Exercise Price that would otherwise (but for the provisions of this
      Section 4) be in effect, and (b) the denominator is the Exercise Price in effect
      on the date of such exercise.

     

    5.  Certificate
      as to Adjustments.
      In each
      case of any adjustment or readjustment in the shares of Common Stock (or Other
      Securities) issuable on the exercise of the Warrant, the Company at its expense
      will promptly cause its Chief Financial Officer or other appropriate designee
      to
      compute such adjustment or readjustment in accordance with the terms of the
      Warrant and prepare a certificate setting forth such adjustment or readjustment
      and showing in detail the facts upon which such adjustment or readjustment
      is
      based, including a statement of (a) the consideration received or receivable
      by
      the Company for any additional shares of Common Stock (or Other Securities)
      issued or sold or deemed to have been issued or sold, (b) the number of shares
      of Common Stock (or Other Securities) outstanding or deemed to be outstanding,
      and (c) the Exercise Price and the number of shares of Common Stock to be
      received upon exercise of this Warrant, in effect immediately prior to such
      adjustment or readjustment and as adjusted or readjusted as provided in this
      Warrant. The Company will forthwith mail a copy of each such certificate to
      the
      holder of the Warrant and any Warrant agent of the Company (appointed pursuant
      to Section 11 hereof).

     

    6.  Reservation
      of Stock, Etc., Issuable on Exercise of Warrant.
      The
      Company will at all times reserve and keep available, solely for issuance and
      delivery on the exercise of the Warrant, shares of Common Stock (or Other
      Securities) from time to time issuable on the exercise of the
      Warrant.

     

    7.  Assignment;
      Exchange of Warrant.
      Subject
      to compliance with applicable securities laws, this Warrant, and the rights
      evidenced hereby, may be transferred by any registered holder hereof (a
      "Transferor") in whole or in part. On the surrender for exchange of this
      Warrant, with the Transferor's endorsement in the form of Exhibit B attached
      hereto (the "Transferor Endorsement Form") and together with evidence reasonably
      satisfactory to the Company demonstrating compliance with applicable securities
      laws, which shall include, without limitation, a legal opinion from the
      Transferor's counsel that such transfer is exempt from the registration
      requirements of applicable securities laws, the Company at its expense but
      with
      payment by the Transferor of any applicable transfer taxes will issue and
      deliver to or on the order of the Transferor thereof a new Warrant of like
      tenor, in the name of the Transferor and/or the transferee(s) specified in
      such
      Transferor Endorsement Form (each a "Transferee"), calling in the aggregate
      on
      the face or faces thereof for the number of shares of Common Stock called for
      on
      the face or faces of the Warrant so surrendered by the Transferor.

     

    8.  Replacement
      of Warrant.
      On
      receipt 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
      or
      security reasonably satisfactory in form and amount to the Company or, in the
      case of any such mutilation, on surrender and cancellation of this Warrant,
      the
      Company at its expense will execute and deliver, in lieu thereof, a new Warrant
      of like tenor.

     

    9.  Registration
      Rights.
      The
      Holder of this Warrant has been granted certain registration rights by the
      Company. These registration rights are set forth in a Registration Rights
      Agreement entered into by the Company and Purchaser dated February 28, 2005,
      as
      amended on even date of this Warrant.

     

    10.  Maximum
      Exercise.
      The
      Holder shall not be entitled to exercise this Warrant on an exercise date,
      in
      connection with that number of shares of Common Stock which would be in excess
      of the sum of (i) the number of shares of Common Stock beneficially owned by
      the
      Holder and its affiliates on an exercise date, and (ii) the number of shares
      of
      Common Stock issuable upon the exercise of this Warrant with respect to which
      the determination of this proviso is being made on an exercise date, which
      would
      result in beneficial ownership by the Holder and its affiliates of more than
      4.99% of the outstanding shares of Common Stock of the Company on such date.
      For
      the purposes of the proviso to the immediately preceding sentence, beneficial
      ownership shall be determined in accordance with Section 13(d) of the Securities
      Exchange Act of 1934, as amended, and Regulation 13d-3 thereunder.
      Notwithstanding the foregoing, the restriction described in this paragraph
      may
      be revoked upon 75 days prior notice from the Holder to the Company and is
      automatically null and void upon an Event of Default under the
      Note.

     

    11.  Warrant
      Agent.
      The
      Company may, by written notice to the each Holder of the Warrant, appoint an
      agent for the purpose of issuing Common Stock (or Other Securities) on the
      exercise of this Warrant pursuant to Section 1, exchanging this Warrant pursuant
      to Section 7, and replacing this Warrant pursuant to Section 8, or any of the
      foregoing, and thereafter any such issuance, exchange or replacement, as the
      case may be, shall be made at such office by such agent.

     

    12.  Transfer
      on the Company's Books.
      Until
      this Warrant is transferred on the books of the Company, the Company may treat
      the registered holder hereof as the absolute owner hereof for all purposes,
      notwithstanding any notice to the contrary.

     

    13.  Notices,
      Etc.
      All
      notices and other communications from the Company to the Holder of this Warrant
      shall be mailed by first class registered or certified mail, postage prepaid,
      at
      such address as may have been furnished to the Company in writing by such Holder
      or, until any such Holder furnishes to the Company an address, then to, and
      at
      the address of, the last Holder of this Warrant who has so furnished an address
      to the Company.

     

    14.  No
      Shorting.
      The
      Purchaser or any of its affiliates and investment partners will not and will
      not
      cause any person or entity, directly or indirectly, to engage in "short sales"
      of the Common Stock or any other hedging strategies during the term of that
      certain Amended and Restated Secured Convertible Term Note, dated of even date
      herewith.

     

    15.  Miscellaneous.
      This
      Warrant and any term hereof may be changed, waived, discharged or terminated
      only by an instrument in writing signed by the party against which enforcement
      of such change, waiver, discharge or termination is sought. This Warrant shall
      be governed by and construed in accordance with the laws of State of New York
      without regard to principles of conflicts of laws. Any action brought concerning
      the transactions contemplated by this Warrant shall be brought only in the
      state
      courts of New York or in the federal courts located in the state of New York;
      provided, however, that the Holder may choose to waive this provision and bring
      an action outside the state of New York. The individuals executing this Warrant
      on behalf of the Company agree to submit to the jurisdiction of such courts
      and
      waive trial by jury. 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 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 this Warrant. The headings in this Warrant are for
      purposes of reference only, and shall not limit or otherwise affect any of
      the
      terms hereof. The invalidity or unenforceability of any provision hereof shall
      in no way affect the validity or enforceability of any other provision. The
      Company acknowledges that legal counsel participated in the preparation of
      this
      Warrant and, therefore, stipulates that the rule of construction that
      ambiguities are to be resolved against the drafting party shall not be applied
      in the interpretation of this Warrant to favor any party against the other
      party.

     

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      OF PAGE INTENTIONALLY LEFT BLANK;

     

    SIGNATURE
      PAGE FOLLOWS.]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF, the Company has executed this Warrant as of the date first
      written above. 

     

    
      	 	
               

              eLINEAR,
                INC.

               

               

              By:

               

               

              Name:
                Michael Lewis

               

               

              Title:
                Chief Executive Officer

               

            
	
               

              WITNESS:

               

               

               

               

               

               

            	 

    

     

    

    
      
        
          
            	 	 	 

          

          

        

         

      

      
         

        
          

        

      

      
         

        
        

      

    

     

    EXHIBIT
      A

     

    FORM
      OF SUBSCRIPTION

     

    (To
      Be
      Signed Only On Exercise Of Warrant)

     

    TO: eLinear,
      Inc. 

     

    Attention: Chief
      Financial Officer

     

    The
      undersigned, pursuant to the provisions set forth in the attached Warrant
      (No.____), hereby irrevocably elects to purchase (check applicable
      box):

     

    ________
      shares of the Common Stock covered by such Warrant; or

     

    the
      maximum number of shares of Common Stock covered by such Warrant pursuant to
      the
      cashless exercise procedure set forth in Section 2.

     

    The
      undersigned herewith makes payment of the full Exercise Price for such shares
      at
      the price per share provided for in such Warrant, which is $___________. Such
      payment takes the form of (check applicable box or boxes):

     

    $__________
      in lawful money of the United States; and/or

     

    the
      cancellation of such portion of the attached Warrant as is exercisable for
      a
      total of _______ shares of Common Stock (using a Fair Market Value of $_______
      per share for purposes of this calculation); and/or

     

    the
      cancellation of such number of shares of Common Stock as is necessary, in
      accordance with the formula set forth in Section 2.2, to exercise this Warrant
      with respect to the maximum number of shares of Common Stock purchasable
      pursuant to the cashless exercise procedure set forth in Section 2.

     

    The
      undersigned requests that the certificates for such shares be issued in the
      name
      of, and delivered to ______________________________________________ whose
      address is
      ___________________________________________________________________________.

     

    The
      undersigned represents and warrants that all offers and sales by the undersigned
      of the securities issuable upon exercise of the within Warrant shall be made
      pursuant to registration of the Common Stock under the Securities Act of 1933,
      as amended (the "Securities Act") or pursuant to an exemption from registration
      under the Securities Act.

     

    
      	
               

              Dated:
                

               

            	
               

               

               

              (Signature
                must conform to name of holder as specified on the face of the
                Warrant)

               

               

              Address:
                

               

               

               

            

    

     

    

    
      
        
          
            	 	
                     

                  	 

          

          

        

         

      

      
         

        
          

        

      

      
         

        
        

      

    

     

    EXHIBIT
      B

     

    FORM
      OF TRANSFEROR ENDORSEMENT 

     

    (To
      Be
      Signed Only On Transfer Of Warrant)

     

    For
      value
      received, the undersigned hereby sells, assigns, and transfers unto the
      person(s) named below under the heading "Transferees" the right represented
      by
      the within Warrant to purchase the percentage and number of shares of Common
      Stock of eLinear, Inc. into which the within Warrant relates specified under
      the
      headings "Percentage Transferred" and "Number Transferred," respectively,
      opposite the name(s) of such person(s) and appoints each such person Attorney
      to
      transfer its respective right on the books of eLinear, Inc. with full power
      of
      substitution in the premises.

     

    

    
      	
               

              Transferees

               

            	
               

              Address

               

            	
               

              Percentage
                Transferred

               

            	
               

              Number

               

               

              Transferred

               

            
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

    

     

    

    
      	
               

              Dated:
                

               

            	
               

               

               

              (Signature
                must conform to name of holder as specified on the face of the
                Warrant)

               

               

              Address:
                

               

               

               

            
	 	
               

              SIGNED
                IN THE PRESENCE OF:

               

               

               

              (Name)

               

            

    

     

    ACCEPTED
      AND AGREED:

     

    [TRANSFEREE] 

     

    (Name)Form of Warrant B

     

    EXHIBIT
      10.03

     

    THIS
      WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT
      HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY
      STATE SECURITIES LAWS. THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE
      OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED
      IN
      THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS WARRANT UNDER
      SAID
      ACT AND ANY APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL REASONABLY
      SATISFACTORY TO ELINEAR, INC. THAT SUCH REGISTRATION IS NOT
      REQUIRED.

     

    Right
      to
      Purchase [__________] Shares of Common Stock of

     

    eLinear,
      Inc.

     

    (subject
      to adjustment as provided herein)

     

    COMMON
      STOCK PURCHASE WARRANT

     

    No.
      _________________                                                                                                                       Issue
      Date: July 14, 2005

     

    eLINEAR,
      INC., a corporation organized under the laws of the State of Delaware, hereby
      certifies that, for value received, [____________], or assigns (the "Holder"),
      is entitled, subject to the terms set forth below, to purchase from the Company
      (as defined herein) from and after six (6) months following the Issue Date
      of
      this Warrant and at any time or from time to time before 5:00 p.m., New York
      time, through the close of business January 14, 2013 (the "Expiration Date"),
      up
      to [___________] fully paid and nonassessable shares of Common Stock (as
      hereinafter defined), at the applicable Exercise Price per share (as defined
      below). The number and character of such shares of Common Stock and the
      applicable Exercise Price per share are subject to adjustment as provided
      herein.

     

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

     

    (a) The
      term
      "Company" shall include eLinear, Inc. and any corporation which shall succeed,
      or assume the obligations of, eLinear, Inc. hereunder. 

     

    (b) The
      term
      "Common Stock" includes (i) the Company's Common Stock, par value $0.02 per
      share; and (ii) any other securities into which or for which any of the
      securities described in (a) may be converted or exchanged pursuant to a plan
      of
      recapitalization, reorganization, merger, sale of assets or
      otherwise.

     

    (c) The
      term
      "Other Securities" refers to any stock (other than Common Stock) and other
      securities of the Company or any other person (corporate or otherwise) which
      the
      holder of the Warrant at any time shall be entitled to receive, or shall have
      received, on the exercise of the Warrant, in lieu of or in addition to Common
      Stock, or which at any time shall be issuable or shall have been issued in
      exchange for or in replacement of Common Stock or Other Securities pursuant
      to
      Section 4 or otherwise. 

     

    (d) The
      "Exercise Price" applicable under this Warrant shall be $1.75 per share of
      Common Stock.

     

    1.  Exercise
      of Warrant.
      

     

    1.1  Number
      of Shares Issuable upon Exercise.
      From
      and after the date hereof through and including the Expiration Date, the Holder
      shall be entitled to receive, upon exercise of this Warrant in whole or in
      part,
      by delivery of an original or fax copy of an exercise notice in the form
      attached hereto as Exhibit A (the "Exercise Notice"), shares of Common Stock
      of
      the Company, subject to adjustment pursuant to Section 4.

     

    1.2  Fair
      Market Value.
      For
      purposes hereof, the "Fair Market Value" of a share of Common Stock as of a
      particular date (the "Determination Date") shall mean: 

     

    (a)  If
      the
      Common Stock is traded on the American Stock Exchange or another national
      exchange or is quoted on the National or SmallCap Market of The Nasdaq Stock
      Market, Inc. ("Nasdaq"), then the closing or last sale price, respectively,
      reported for the last business day immediately preceding the Determination
      Date.

     

    (b)  If
      the
      Common Stock is not traded on the American Stock Exchange or another national
      exchange or on the Nasdaq but is traded on the NASD OTC Bulletin Board, then
      the
      mean of the average of the closing bid and asked prices reported for the last
      business day immediately preceding the Determination Date.

     

    (c)  Except
      as
      provided in clause (d) below, if the Common Stock is not publicly traded, then
      as the Holder and the Company agree or in the absence of agreement by
      arbitration in accordance with the rules then in effect of the American
      Arbitration Association, before a single arbitrator to be chosen from a panel
      of
      persons qualified by education and training to pass on the matter to be
      decided.

     

    (d)  If
      the
      Determination Date is the date of a liquidation, dissolution or winding up,
      or
      any event deemed to be a liquidation, dissolution or winding up pursuant to
      the
      Company's charter, then all amounts to be payable per share to holders of the
      Common Stock pursuant to the charter in the event of such liquidation,
      dissolution or winding up, plus all other amounts to be payable per share in
      respect of the Common Stock in liquidation under the charter, assuming for
      the
      purposes of this clause (d) that all of the shares of Common Stock then issuable
      upon exercise of the Warrant are outstanding at the Determination
      Date.

     

    1.3  Company
      Acknowledgment.
      The
      Company will, at the time of the exercise of the Warrant, upon the request
      of
      the holder hereof acknowledge in writing its continuing obligation to afford
      to
      such holder any rights to which such holder shall continue to be entitled after
      such exercise in accordance with the provisions of this Warrant. If the holder
      shall fail to make any such request, such failure shall not affect the
      continuing obligation of the Company to afford to such holder any such rights.
      

     

    1.4  Trustee
      for Warrant Holders.
      In the
      event that a bank or trust company shall have been appointed as trustee for
      the
      holders of the Warrant pursuant to Subsection 3.2, such bank or trust company
      shall have all the powers and duties of a warrant agent (as hereinafter
      described) and shall accept, in its own name for the account of the Company
      or
      such successor person as may be entitled thereto, all amounts otherwise payable
      to the Company or such successor, as the case may be, on exercise of this
      Warrant pursuant to this Section 1.

     

    2.  Procedure
      for Exercise.

     

    2.1  Delivery
      of Stock Certificates, Etc., on Exercise.
      The
      Company agrees that the shares of Common Stock purchased upon exercise of this
      Warrant shall be deemed to be issued to the Holder as the record owner of such
      shares as of the close of business on the date on which this Warrant shall
      have
      been surrendered and payment made for such shares in accordance herewith. As
      soon as practicable after the exercise of this Warrant in full or in part,
      and
      in any event within three (3) business days thereafter, the Company at its
      expense (including the payment by it of any applicable issue taxes) will cause
      to be issued in the name of and delivered to the Holder, or as such Holder
      (upon
      payment by such Holder of any applicable transfer taxes) may direct in
      compliance with applicable securities laws, a certificate or certificates for
      the number of duly and validly issued, fully paid and nonassessable shares
      of
      Common Stock (or Other Securities) to which such Holder shall be entitled on
      such exercise, plus, in lieu of any fractional share to which such holder would
      otherwise be entitled, cash equal to such fraction multiplied by the then Fair
      Market Value of one full share, together with any other stock or other
      securities and property (including cash, where applicable) to which such Holder
      is entitled upon such exercise pursuant to Section 1 or otherwise.

     

    2.2  Exercise.
      Payment
      may be made either (i) in cash or by certified or official bank check payable
      to
      the order of the Company equal to the applicable aggregate Exercise Price,
      (ii)
      by delivery of the Warrant, or shares of Common Stock and/or Common Stock
      receivable upon exercise of the Warrant in accordance with Section (b) below,
      or
      (iii) by a combination of any of the foregoing methods, for the number of Common
      Stock specified in such Exercise Notice (as such exercise number shall be
      adjusted to reflect any adjustment in the total number of shares of Common
      Stock
      issuable to the Holder per the terms of this Warrant) and the Holder shall
      thereupon be entitled to receive the number of duly authorized, validly issued,
      fully-paid and non-assessable shares of Common Stock (or Other Securities)
      determined as provided herein. Notwithstanding any provisions herein to the
      contrary, if the Fair Market Value of one share of Common Stock is greater
      than
      the Exercise Price (at the date of calculation as set forth below), in lieu
      of
      exercising this Warrant for cash, the Holder may elect to receive shares equal
      to the value (as determined below) of this Warrant (or the portion thereof
      being
      exercised) by surrender of this Warrant at the principal office of the Company
      together with the properly endorsed Exercise Notice in which event the Company
      shall issue to the Holder a number of shares of Common Stock computed using
      the
      following formula:

     

    X=Y (A-B)

                        
      A

     

    Where
      X
      = the
      number of shares of Common Stock to be issued to the Holder

     

    Y
      = the
      number of shares of Common Stock purchasable under the Warrant or, if only
      a
      portion of the Warrant is being exercised, the portion of the Warrant being
      exercised (at the date of such calculation)

     

    A
      = the
      Fair
      Market Value of one share of the Common Stock (at the date of such
      calculation)

     

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

     

    3.  Effect
      of Reorganization, Etc.; Adjustment of Exercise Price.

     

    3.1  Reorganization,
      Consolidation, Merger, Etc.
      In case
      at any time or from time to time, the Company shall (a) effect a reorganization,
      (b) consolidate with or merge into any other person, or (c) transfer all or
      substantially all of its properties or assets to any other person under any
      plan
      or arrangement contemplating the dissolution of the Company, then, in each
      such
      case, as a condition to the consummation of such a transaction, proper and
      adequate provision shall be made by the Company whereby the Holder of this
      Warrant, on the exercise hereof as provided in Section 1 at any time after
      the
      consummation of such reorganization, consolidation or merger or the effective
      date of such dissolution, as the case may be, shall receive, in lieu of the
      Common Stock (or Other Securities) issuable on such exercise prior to such
      consummation or such effective date, the stock and other securities and property
      (including cash) to which such Holder would have been entitled upon such
      consummation or in connection with such dissolution, as the case may be, if
      such
      Holder had so exercised this Warrant, immediately prior thereto, all subject
      to
      further adjustment thereafter as provided in Section 4.

     

    3.2  Dissolution.
      In the
      event of any dissolution of the Company following the transfer of all or
      substantially all of its properties or assets, the Company, concurrently with
      any distributions made to holders of its Common Stock, shall at its expense
      deliver or cause to be delivered to the Holder the stock and other securities
      and property (including cash, where applicable) receivable by the Holder of
      the
      Warrant pursuant to Section 3.1, or, if the Holder shall so instruct the
      Company, to a bank or trust company specified by the Holder and having its
      principal office in New York, NY as trustee for the Holder of the
      Warrant.

     

    3.3  Continuation
      of Terms.
      Upon
      any reorganization, consolidation, merger or transfer (and any dissolution
      following any transfer) referred to in this Section 3, this Warrant shall
      continue in full force and effect and the terms hereof shall be applicable
      to
      the shares of stock and other securities and property receivable on the exercise
      of this Warrant after the consummation of such reorganization, consolidation
      or
      merger or the effective date of dissolution following any such transfer, as
      the
      case may be, and shall be binding upon the issuer of any such stock or other
      securities, including, in the case of any such transfer, the person acquiring
      all or substantially all of the properties or assets of the Company, whether
      or
      not such person shall have expressly assumed the terms of this Warrant as
      provided in Section 4. In the event this Warrant does not continue in full
      force
      and effect after the consummation of the transactions described in this Section
      3, then the Company's securities and property (including cash, where applicable)
      receivable by the Holders of the Warrant will be delivered to Holder or the
      trustee as contemplated by Section 3.2.

     

    4.  Extraordinary
      Events Regarding Common Stock.
      In the
      event that the Company shall (a) issue additional shares of the Common Stock
      as
      a dividend or other distribution on outstanding Common Stock, (b) subdivide
      its
      outstanding shares of Common Stock, or (c) combine its outstanding shares of
      the
      Common Stock into a smaller number of shares of the Common Stock, then, in
      each
      such event, the Exercise Price shall, simultaneously with the happening of
      such
      event, be adjusted by multiplying the then Exercise Price by a fraction, the
      numerator of which shall be the number of shares of Common Stock outstanding
      immediately prior to such event and the denominator of which shall be the number
      of shares of Common Stock outstanding immediately after such event, and the
      product so obtained shall thereafter be the Exercise Price then in effect.
      The
      Exercise Price, as so adjusted, shall be readjusted in the same manner upon
      the
      happening of any successive event or events described herein in this Section
      4.
      The number of shares of Common Stock that the holder of this Warrant shall
      thereafter, on the exercise hereof as provided in Section 1, be entitled to
      receive shall be increased to a number determined by multiplying the number
      of
      shares of Common Stock that would otherwise (but for the provisions of this
      Section 4) be issuable on such exercise by a fraction of which (a) the numerator
      is the Exercise Price that would otherwise (but for the provisions of this
      Section 4) be in effect, and (b) the denominator is the Exercise Price in effect
      on the date of such exercise.

     

    5.  Certificate
      as to Adjustments.
      In each
      case of any adjustment or readjustment in the shares of Common Stock (or Other
      Securities) issuable on the exercise of the Warrant, the Company at its expense
      will promptly cause its Chief Financial Officer or other appropriate designee
      to
      compute such adjustment or readjustment in accordance with the terms of the
      Warrant and prepare a certificate setting forth such adjustment or readjustment
      and showing in detail the facts upon which such adjustment or readjustment
      is
      based, including a statement of (a) the consideration received or receivable
      by
      the Company for any additional shares of Common Stock (or Other Securities)
      issued or sold or deemed to have been issued or sold, (b) the number of shares
      of Common Stock (or Other Securities) outstanding or deemed to be outstanding,
      and (c) the Exercise Price and the number of shares of Common Stock to be
      received upon exercise of this Warrant, in effect immediately prior to such
      adjustment or readjustment and as adjusted or readjusted as provided in this
      Warrant. The Company will forthwith mail a copy of each such certificate to
      the
      holder of the Warrant and any Warrant agent of the Company (appointed pursuant
      to Section 11 hereof).

     

    6.  Reservation
      of Stock, Etc., Issuable on Exercise of Warrant.
      The
      Company will at all times reserve and keep available, solely for issuance and
      delivery on the exercise of the Warrant, shares of Common Stock (or Other
      Securities) from time to time issuable on the exercise of the
      Warrant.

     

    7.  Assignment;
      Exchange of Warrant.
      Subject
      to compliance with applicable securities laws, this Warrant, and the rights
      evidenced hereby, may be transferred by any registered holder hereof (a
      "Transferor") in whole or in part. On the surrender for exchange of this
      Warrant, with the Transferor's endorsement in the form of Exhibit B attached
      hereto (the "Transferor Endorsement Form") and together with evidence reasonably
      satisfactory to the Company demonstrating compliance with applicable securities
      laws, which shall include, without limitation, a legal opinion from the
      Transferor's counsel that such transfer is exempt from the registration
      requirements of applicable securities laws, the Company at its expense but
      with
      payment by the Transferor of any applicable transfer taxes will issue and
      deliver to or on the order of the Transferor thereof a new Warrant of like
      tenor, in the name of the Transferor and/or the transferee(s) specified in
      such
      Transferor Endorsement Form (each a "Transferee"), calling in the aggregate
      on
      the face or faces thereof for the number of shares of Common Stock called for
      on
      the face or faces of the Warrant so surrendered by the Transferor.

     

    8.  Replacement
      of Warrant.
      On
      receipt 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
      or
      security reasonably satisfactory in form and amount to the Company or, in the
      case of any such mutilation, on surrender and cancellation of this Warrant,
      the
      Company at its expense will execute and deliver, in lieu thereof, a new Warrant
      of like tenor.

     

    9.  Registration
      Rights.
      The
      Holder of this Warrant has been granted certain registration rights by the
      Company. These registration rights are set forth in a Registration Rights
      Agreement entered into by the Company and Purchaser dated February 28, 2005,
      as
      amended on even date of this Warrant.

     

    10.  Maximum
      Exercise.
      The
      Holder shall not be entitled to exercise this Warrant on an exercise date,
      in
      connection with that number of shares of Common Stock which would be in excess
      of the sum of (i) the number of shares of Common Stock beneficially owned by
      the
      Holder and its affiliates on an exercise date, and (ii) the number of shares
      of
      Common Stock issuable upon the exercise of this Warrant with respect to which
      the determination of this proviso is being made on an exercise date, which
      would
      result in beneficial ownership by the Holder and its affiliates of more than
      4.99% of the outstanding shares of Common Stock of the Company on such date.
      For
      the purposes of the proviso to the immediately preceding sentence, beneficial
      ownership shall be determined in accordance with Section 13(d) of the Securities
      Exchange Act of 1934, as amended, and Regulation 13d-3 thereunder.
      Notwithstanding the foregoing, the restriction described in this paragraph
      may
      be revoked upon 75 days prior notice from the Holder to the Company and is
      automatically null and void upon an Event of Default under the
      Note.

     

    11.  Warrant
      Agent.
      The
      Company may, by written notice to the each Holder of the Warrant, appoint an
      agent for the purpose of issuing Common Stock (or Other Securities) on the
      exercise of this Warrant pursuant to Section 1, exchanging this Warrant pursuant
      to Section 7, and replacing this Warrant pursuant to Section 8, or any of the
      foregoing, and thereafter any such issuance, exchange or replacement, as the
      case may be, shall be made at such office by such agent.

     

    12.  Transfer
      on the Company's Books.
      Until
      this Warrant is transferred on the books of the Company, the Company may treat
      the registered holder hereof as the absolute owner hereof for all purposes,
      notwithstanding any notice to the contrary.

     

    13.  Notices,
      Etc.
      All
      notices and other communications from the Company to the Holder of this Warrant
      shall be mailed by first class registered or certified mail, postage prepaid,
      at
      such address as may have been furnished to the Company in writing by such Holder
      or, until any such Holder furnishes to the Company an address, then to, and
      at
      the address of, the last Holder of this Warrant who has so furnished an address
      to the Company.

     

    14.  No
      Shorting.
      The
      Purchaser or any of its affiliates and investment partners will not and will
      not
      cause any person or entity, directly or indirectly, to engage in "short sales"
      of the Common Stock or any other hedging strategies during the term of that
      certain Amended and Restated Secured Convertible Term Note, dated of even date
      herewith.

     

    15.  Miscellaneous.
      This
      Warrant and any term hereof may be changed, waived, discharged or terminated
      only by an instrument in writing signed by the party against which enforcement
      of such change, waiver, discharge or termination is sought. This Warrant shall
      be governed by and construed in accordance with the laws of State of New York
      without regard to principles of conflicts of laws. Any action brought concerning
      the transactions contemplated by this Warrant shall be brought only in the
      state
      courts of New York or in the federal courts located in the state of New York;
      provided, however, that the Holder may choose to waive this provision and bring
      an action outside the state of New York. The individuals executing this Warrant
      on behalf of the Company agree to submit to the jurisdiction of such courts
      and
      waive trial by jury. 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 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 this Warrant. The headings in this Warrant are for
      purposes of reference only, and shall not limit or otherwise affect any of
      the
      terms hereof. The invalidity or unenforceability of any provision hereof shall
      in no way affect the validity or enforceability of any other provision. The
      Company acknowledges that legal counsel participated in the preparation of
      this
      Warrant and, therefore, stipulates that the rule of construction that
      ambiguities are to be resolved against the drafting party shall not be applied
      in the interpretation of this Warrant to favor any party against the other
      party.

     

    [BALANCE
      OF PAGE INTENTIONALLY LEFT BLANK;

     

    SIGNATURE
      PAGE FOLLOWS.]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF, the Company has executed this Warrant as of the date first
      written above. 

     

    
      	 	
               

              eLINEAR,
                INC.

               

               

              By:

               

               

              Name:
                Michael Lewis

               

               

              Title:
                Chief Executive Officer

               

            
	
               

              WITNESS:

               

               

               

               

               

               

            	 

    

     

    

    
      
        
          
            	 	 	 

          

          

        

         

      

      
         

        
          

        

      

      
         

        
        

      

    

     

    EXHIBIT
      A

     

    FORM
      OF SUBSCRIPTION

     

    (To
      Be
      Signed Only On Exercise Of Warrant)

     

    TO: eLinear,
      Inc. 

     

    Attention: Chief
      Financial Officer

     

    The
      undersigned, pursuant to the provisions set forth in the attached Warrant
      (No.____), hereby irrevocably elects to purchase (check applicable
      box):

     

    ________
      shares of the Common Stock covered by such Warrant; or

     

    the
      maximum number of shares of Common Stock covered by such Warrant pursuant to
      the
      cashless exercise procedure set forth in Section 2.

     

    The
      undersigned herewith makes payment of the full Exercise Price for such shares
      at
      the price per share provided for in such Warrant, which is $___________. Such
      payment takes the form of (check applicable box or boxes):

     

    $__________
      in lawful money of the United States; and/or

     

    the
      cancellation of such portion of the attached Warrant as is exercisable for
      a
      total of _______ shares of Common Stock (using a Fair Market Value of $_______
      per share for purposes of this calculation); and/or

     

    the
      cancellation of such number of shares of Common Stock as is necessary, in
      accordance with the formula set forth in Section 2.2, to exercise this Warrant
      with respect to the maximum number of shares of Common Stock purchasable
      pursuant to the cashless exercise procedure set forth in Section 2.

     

    The
      undersigned requests that the certificates for such shares be issued in the
      name
      of, and delivered to ______________________________________________ whose
      address is
      ___________________________________________________________________________.

     

    The
      undersigned represents and warrants that all offers and sales by the undersigned
      of the securities issuable upon exercise of the within Warrant shall be made
      pursuant to registration of the Common Stock under the Securities Act of 1933,
      as amended (the "Securities Act") or pursuant to an exemption from registration
      under the Securities Act.

     

    
      	
               

              Dated:
                

               

            	
               

               

               

              (Signature
                must conform to name of holder as specified on the face of the
                Warrant)

               

               

              Address:
                

               

               

               

            

    

     

    

    
      
        
          
            	 	
                     

                  	 

          

          

        

         

      

      
         

        
          

        

      

      
         

        
        

      

    

     

    EXHIBIT
      B

     

    FORM
      OF TRANSFEROR ENDORSEMENT 

     

    (To
      Be
      Signed Only On Transfer Of Warrant)

     

    For
      value
      received, the undersigned hereby sells, assigns, and transfers unto the
      person(s) named below under the heading "Transferees" the right represented
      by
      the within Warrant to purchase the percentage and number of shares of Common
      Stock of eLinear, Inc. into which the within Warrant relates specified under
      the
      headings "Percentage Transferred" and "Number Transferred," respectively,
      opposite the name(s) of such person(s) and appoints each such person Attorney
      to
      transfer its respective right on the books of eLinear, Inc. with full power
      of
      substitution in the premises.

     

    

    
      	
               

              Transferees

               

            	
               

              Address

               

            	
               

              Percentage
                Transferred

               

            	
               

              Number

               

               

              Transferred

               

            
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

    

     

    

    
      	
               

              Dated:
                

               

            	
               

               

               

              (Signature
                must conform to name of holder as specified on the face of the
                Warrant)

               

               

              Address:
                

               

               

               

            
	 	
               

              SIGNED
                IN THE PRESENCE OF:

               

               

               

              (Name)

               

            

    

     

    ACCEPTED
      AND AGREED:

     

    [TRANSFEREE] 

     

    (Name)

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