Document:

Exhibit
      4.1

    

    THIS
      NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
      “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE SOLD
      OR OTHERWISE TRANSFERRED BY ANY PERSON, INCLUDING A PLEDGEE, UNLESS (1) EITHER
      (A) A REGISTRATION WITH RESPECT THERETO SHALL BE EFFECTIVE UNDER THE SECURITIES
      ACT, OR (B) THE COMPANY SHALL HAVE RECEIVED AN OPINION OF COUNSEL SATISFACTORY
      TO THE COMPANY THAT AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
      IS
      AVAILABLE, AND (2) THERE SHALL HAVE BEEN COMPLIANCE WITH ALL APPLICABLE STATE
      SECURITIES OR “BLUE SKY” LAWS.

    

    INTELLECT
      NEUROSCIENCES, INC.

    

    Convertible
      Promissory Note

    

    
      	
              $[XXXX]

            	
              New
                York, New York

            
	 	
              [           
                    ],
                2007

            

    

    

    INTELLECT
      NEUROSCIENCES, INC.
      a
      Delaware corporation (the “Company”), for value received, hereby promises to pay
      to [
      ] or
      its
      assigns (the “Holder”), the principal sum of $[XXX] together with interest,
      which interest shall accrue on the then outstanding principal balance of this
      Note at an interest rate per annum of ten percent (10%), provided, that, if
      at
      any time the principal balance of this Note shall be prepaid in whole or in
      part, or shall otherwise be paid in full, then all accrued interest on the
      principal being paid shall be payable at the time of such principal payment.
      Unless this Note has been prepaid or converted in accordance with the terms
      hereof, all principal and interest under this Note shall be due and payable
      on
      the earlier of (i) May [ ] 2008, (ii) the closing of an equity financing of
      the
      Company (the “Next
      Financing”)
      with a
      third party or parties with gross proceeds to the Company of not less than
      $5,000,000 or (iii) the closing of a licensing transaction with a collaborative
      partner which results in an upfront payment to the Company of not less than
      $4,000,000 (the “Maturity
      Date”).

    

    This
      Note
      is executed and delivered in connection with that certain ‘Subscription
      Agreement dated as of May [ ], 2007 by and between the Company and the payee
      (as
      the same may from time to time be amended, modified or supplemented, the
“Purchase
      Agreement”).
      All
      terms defined in the Purchase Agreement shall have the same definitions when
      used herein, unless otherwise defined herein.

    

    1.      Conversion.

    

    (a) Conversion.
      Unless
      previously paid in full, at the Holder’s option, all or some of the outstanding
      principal amount and accrued interest of this Note shall be convertible into
      common stock of the Company. The number of shares of Company common stock to
      be
      issued pursuant to this Section 1(a) shall be equal to the quotient obtained
      by
      dividing the outstanding principal amount of this Note and accrued interest
      to
      be converted on the date of conversion by 1.75 (the “Conversion
      Price”).
      In
      the event that the Holder elects to convert this Note as aforesaid, it shall
      deliver to the Company written notice of such election (a “Conversion
      Notice”).
      The
      conversion of all of the outstanding principal amount and accrued interest
      of
      this Note into Company common stock shall take place upon the Company’s receipt
      of the Conversion Notice (such date hereinafter referred to as the “Conversion
      Date”).

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (b) Procedural
      and Other Matters.

    

    (i) Upon
      conversion of this Note, the Holder shall be deemed to be the holder of record
      of the Company common stock, notwithstanding that the transfer books of the
      Company shall then be closed or any instruments representing such Company common
      stock shall not then have been actually delivered to the Holder.

    

    (ii) As
      soon
      as practicable after the Conversion Date, the Company shall issue and deliver
      to
      the Holder any instruments evidencing the Company common stock registered in
      the
      name of the Holder or its designee(s); provided, that the Company, by notice
      given to the Holder, may require the Holder, as a condition to the delivery
      of
      such instruments, to present this Note to the Company.

    

    (iii) The
      issuance of any Company common stock, and the delivery of any instruments
      representing such shares, if applicable, shall be made without charge to the
      Holder for any tax or other charge in respect of such issuance. The Company
      shall not, however, be required to pay any tax which may be payable in respect
      of any transfer involved in the issue and delivery of any instrument in a name
      other than that of the Holder, and the Company shall not be required to issue
      or
      deliver any such instrument unless and until the person or persons requesting
      the issue thereof shall have paid to the Company the amount of such tax or
      shall
      have established to the satisfaction of the Company that such tax has been
      paid.

    

    2.     Requirements
      for Transfer.
      This
      Note shall not be assigned, sold, pledged, transferred or otherwise disposed
      of
      except in compliance with the Securities Act of 1933, as amended (the
“Securities
      Act’),
      and
      applicable state securities laws.

    

    3.      Default.
      This
      Note and all amounts due hereunder shall become immediately due and payable
      in
      cash without notice or demand upon the occurrence at any time of any of the
      following events of default (individually, an “Event
      of Default”
and
      collectively, “Events
      of Default”):

    

    (a) Default
      in the payment when due of any principal or interest under this
      Note;

    

    (b) The
      liquidation, termination of existence, dissolution or the appointment of a
      receiver or custodian for the Company or any part of its property if such
      appointment is not terminated or dismissed within thirty (30) days;

     

    (c) The
      institution against the Company or any endorser or guarantor of this Note of
      any
      proceedings under the United States Bankruptcy Code or any other federal or
      state bankruptcy, reorganization, receivership, insolvency or other similar
      law
      affecting the rights of creditors generally, which proceeding is not dismissed
      within thirty (30) days of filing; or

    

    (d) the
      institution by the Company or any endorser or guarantor of this Note of any
      proceedings under the United States Bankruptcy Code or any other federal or
      state bankruptcy, reorganization, receivership, insolvency or other similar
      law
      affecting the rights of creditors generally or the making by the Company or
      any
      endorser or guarantor of this Note of a composition or an assignment or trust
      mortgage for the benefit of creditors.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    Upon
      the
      occurrence of an Event of Default, the holder shall have then, or at any time
      thereafter, all of the rights and remedies afforded by the Uniform Commercial
      Code as from time to time in effect in the State of New York or afforded by
      other applicable law.

    

    4.      No
      Rights as Stockholder.
      Nothing
      contained in this Note shall be construed as conferring upon the holder hereof
      or its transferees the right to vote or to receive dividends or to consent
      or to
      receive notice as a stockholder in respect of any meeting of stockholders for
      the election of directors of the Company or of any other matter, or any rights
      whatsoever as a stockholder of the Company.

    

    5.     Certain
      Adjustments.

    

    (a)
       Changes
      in Common Stock.
      If the
      Company shall (i) combine the outstanding shares of Company common stock into
      a
      lesser number of shares, (ii) subdivide the outstanding shares of Company common
      stock into a greater number of shares, or (iii) issue additional shares of
      Company common stock as a dividend or other distribution with respect to the
      Company common stock, the number of shares of Company common stock to be issued
      pursuant to Section 1(a) shall be equal to the number of shares which the Holder
      would have been entitled to receive after the happening of any of the events
      described above if such shares had been issued immediately prior to the
      happening of such event, such adjustment to become effective concurrently with
      the effectiveness of such event. The Conversion Price in effect immediately
      prior to any such combination of Company common stock shall, upon the
      effectiveness of such combination, be proportionately increased. The Conversion
      Price in effect immediately prior to any such subdivision of Company common
      stock or at the record date of such dividend shall upon the effectiveness of
      such subdivision or immediately after the record date of such dividend be
      proportionately reduced.

    

    (b) Reorganizations
      and Reclassifications.
      If
      there shall occur any capital reorganization or reclassification of the Company
      common stock (other than a change in par value or a subdivision or combination
      as provided for in Section 5(a) above), then, as part of any such reorganization
      or reclassification, lawful provision shall be made so that the Holder shall
      have the right thereafter to receive upon the exercise hereof the kind and
      amount of shares of stock or other securities or property which such Holder
      would have been entitled to receive if, immediately prior to any such
      reorganization or reclassification, such Holder had held the number of shares
      of
      Company common stock which were then purchasable upon conversion of this Note.
      In any such case, appropriate adjustment (as reasonably determined by the Board
      of Directors of the Company) shall be made in the application of the provisions
      set forth herein with respect to the rights and interests thereafter of the
      Holder such that the provisions set forth in this Section 5 (including
      provisions with respect to adjustment of the Conversion Price) shall thereafter
      be applicable, as nearly as is reasonably practicable, in relation to any shares
      of stock or other securities or property thereafter deliverable upon the
      conversion of this Note.

    

    (c) Merger,
      Consolidation or Sale of Assets.
      If
      there shall be a merger or consolidation of the Company with or into another
      corporation (other than a merger or reorganization involving only a change
      in
      the state of incorporation of the Company or the acquisition by the Company
      of
      other businesses where the Company survives as a going concern), or the sale
      of
      all or substantially all of the Company’s capital stock or assets to any other
      person, then as a part of such transaction, provision shall be made so that
      the
      Holder shall thereafter be entitled to receive the number of shares of stock
      or
      other securities or property of the Company, or of the successor corporation
      resulting from the merger, consolidation or sale to which the Holder would
      have
      been entitled if the Holder had converted the Note immediately prior thereto.
      In
      any such case, appropriate adjustment shall be made in the application of the
      provisions of this Section 5 to the end that the provisions of this Section
      5
      shall be applicable after that event in as nearly equivalent a manner as may
      be
      practicable.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (d)
       Certain
      Anti-Dilution Adjustments.
      If
      during the time while any portion of this Note remains outstanding, the Company
      shall issue shares of Company common stock (or rights, warrants, notes or other
      securities convertible into or exchangeable for shares of Company common stock),
      other than issuances covered by Sections 5(a), 5(b) or 5(c) above, at a price
      per share (or having an exercise, conversion, or exchange price per share)
      less
      than the Conversion Price in effect as of the date of issuance of such shares
      or
      of such rights, warrants, notes, or other convertible or exchangeable
      securities, then, and in each such case, the Conversion Price shall be reduced
      to a price equal to the issuance, conversion, exchange or exercise price, as
      applicable, of any such securities so issued. Notwithstanding anything contrary
      in this Section, there shall be no reduction to the Conversion Price pursuant
      to
      this Section with respect to (i) the issuance or sale of options to purchase
      shares of Company common stock to employees, consultants and directors, (ii)
      the
      issuance of securities pursuant to the conversion or exercise of convertible
      or
      exercisable securities as of the date of this Note, (as adjusted for
      recapitalizations, stock splits, and the like) which are currently outstanding
      as of the date of this Note or (iii) the issuance of securities as consideration
      for a bona fide business acquisition of or by the Company, whether by merger,
      consolidation, sale of assets, sale or exchange of stock or otherwise, which
      involves a third party which is not affiliated with the Company or its current
      stockholders or in a strategic allowance.

    

    (e) No
      Impairment.
      The
      Company will not, by amendment of its Articles of Incorporation or any other
      organizational or shareholder rights documents of the Company, or through any
      reorganization, recapitalization, transfer of assets, consolidation, merger,
      dissolution, issue or sale of securities or any other voluntary action, seek
      to
      avoid the observance or performance of any of the terms to be observed or
      performed hereunder by the Company, but will at all times in good faith assist
      in the carrying out of all the provisions of this Section 5 and in the taking
      of
      all such action as may be necessary or appropriate in order to protect the
      rights of the holder of this Note against impairment.

    

    (f) Certificate
      of Adjustment.
      When
      any adjustment is required to be made in the Conversion Price, the Company
      shall
      promptly mail to the Holder a certificate setting forth the Conversion Price
      after such adjustment and setting forth a brief statement of the facts requiring
      such adjustment. Delivery of such certificate shall be deemed to be a final
      and
      binding determination with respect to such adjustment unless challenged by
      the
      Holder

    within
      ten (10) days of receipt thereof. Such certificate shall also set forth the
      kind
      and amount of stock or other securities or property into which this Note shall
      be convertible following the occurrence of any of the events specified in this
      Section 5.

    

    6.      General.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (a)  Merger.
      The
      Holder agrees that in the event that the Company engages in any merger, the
      Convertible Promissory Note shall be convertible into securities of the
      surviving corporation or such other corporation as shall be specified in the
      merger agreement. 

    

    (b)  Successors
      and Assigns.
      This
      Note, and the obligations and rights of the Company hereunder, shall be binding
      upon and inure to the benefit of the Company, the holder of this Note, and
      their
      respective heirs, successors and assigns.

    

    (c)  Recourse.
      Recourse
      under this Note shall be to the general unsecured assets of the Company only,
      and in no event to the officers, directors or stockholders of the Company.
      

    

    (d)  Changes.
      Changes
      in or additions to this Note may be made or compliance with any term, covenant,
      agreement, condition or provision set forth herein may be omitted or waived
      (either generally or in a particular instance and either retroactively or
      prospectively), only upon written consent of the Company and the holder of
      this
      Note.

    

    (e)  Governing
      Law.
      This
      Note shall be governed by and construed in accordance with the law of the State
      of New York, excluding the body of law relating to conflict of
      laws.

    

    (f)  Notices.
      All
      notices, requests, consents and demands shall be made in writing and shall
      be
      mailed postage prepaid, or delivered by hand, to the Company or to the holder
      thereof at their respective addresses set forth below or to such other address
      as may be furnished in writing to the other party hereto:

    

    If
      to a payee:
      at the
      address set forth for such payee on the signature page to the related
      Subscription Agreement or at such other address as to which such payee may
      inform the Company in writing.-

     

    If
      to the Company:
      Intellect Neurosciences, Inc., 7 West 18th Street, 9th floor, New York, New
      York
      10001, or at such other address as shall be designated by the Company in a
      written notice to the other parties.

    

    All
      notices, requests, consents and other communications hereunder shall be deemed
      to have been given either (i) if by hand, at the time of the delivery thereof
      to
      the receiving party at the address of such party set forth above, (ii) if sent
      by overnight courier, on the next business day following the day such notice
      is
      delivered to the courier service, or (iii) if sent by registered or certified
      mail, on the 3rd business day following the day such mailing is
      made.

    

    [The
      remainder of this page is intentionally left blank.]

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      W1TNESS WHEREOF,
      this
      Note has been executed and delivered as a sealed instrument on the date first
      above written by the duly authorized representative of the Company.

    

    

    

    INTELLECT
      NEUROSCIENCES, INC.

    

    

    By:
      _____________________________

    Name: 
      Elliot
      Maza

    Title:    President
      and Chief Financial OfficerExhibit
      4.2

    

    THIS
      WARRANT AND THE SHARES OF CAPITAL STOCK ISSUED UPON ANY EXERCISE HEREOF HAVE
      NOT
      BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES
      ACT”),
      OR ANY APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE SOLD OR OTHERWISE
      TRANSFERRED BY ANY PERSON, INCLUDING A PLEDGEE, UNLESS (1) EITHER (A) A
      REGISTRATION WITH RESPECT TO THERETO SHALL BE EFFECTIVE UNDER THE SECURITIES
      ACT, OR (B) THE COMPANY SHALL HAVE RECEIVED AN OPINION OF COUNSEL SATISFACTORY
      TO THE COMPANY THAT AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
      IS
      AVAILABLE, AND (2) THERE SHALL HAVE BEEN COMPLIANCE WITH ALL APPLICABLE STATE
      SECURITIES OR “BLUE SKY” LAWS.

    

    May
      [  ], 2007

    

    WARRANT
      TO PURCHASE STOCK

    

    OF

    

    INTELLECT
      NEUROSCIENCES, INC.

    (A
      DELAWARE CORPORATION)

    

    INTELLECT
      NEUROSCIENCES, INC.,
      a
      Delaware corporation (the “Company”),
      for
      value received, hereby certifies that
      NAME
      (the
“Holder”),
      is
      entitled, subject to the terms set forth below, to purchase from the Company,
      at
      any time or from time to time at or before the earlier of 5:00 p.m. New York
      City time on May [ ], 2012 (the “Expiration
      Date”)
      and
      the termination of this Warrant as provided in Section 8 hereof, up
      to
      [XXX]
      shares
      of
      Common Stock, par value $0.001 per share, of the Company (the “Common
      Stock”),
      at a
      purchase price (the “Exercise
      Price”)
      equal
      to $1.75 per share, as adjusted upon the occurrence of certain events as set
      forth in Section 3 of this Warrant. The shares of stock issuable upon exercise
      of this Warrant are hereinafter referred to as the “Warrant
      Stock”.

    

    1.     Exercise.

    

    1.1     Manner
      of Exercise: Payment in Cash.
      This
      Warrant may be exercised by the Holder, in whole or in part, by surrendering
      this Warrant, with the purchase form appended hereto as Exhibit
      A
      duly
      executed by the Holder, at the principal office of the Company, or at such
      other
      place as the Company may designate, accompanied by payment in full of the
      Exercise Price payable in respect of the number of shares of Warrant Stock
      purchased upon such exercise. Payment of the Exercise Price shall be in cash
      or
      by certified or official bank check payable to the order of the
      Company.

    

    1.2     Effectiveness.
      Each
      exercise of this Warrant shall be deemed to have been effected immediately
      prior
      to the close of business on the day on which this Warrant shall have been
      surrendered to the Company as provided in Section 1.1 above. At such time,
      the
      person or persons in whose name or names any certificates for Warrant Stock
      shall be issuable upon such exercise as provided in Section 1.5 below
      shall be deemed to have become the holder or holders of record of the Warrant
      Stock represented by such certificates.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    1.3.     Delivery
      of Certificates.
      As soon
      as practicable after the exercise of this Warrant in full or in part, and in
      any
      event within ten (10) business days thereafter, the Company at its sole expense
      will cause to be issued in the name of, and delivered to, the Holder, or,
      subject to the terms and conditions hereof, such person as such Holder (upon
      payment by such Holder of any applicable transfer taxes) may
      direct:

    

    (a)     A
      certificate or certificates for the number of full shares of Warrant Stock
      to
      which such Holder shall be entitled upon such exercise plus, in lieu of any
      fractional share to which such Holder would otherwise be entitled, cash in
      an
      amount determined pursuant to Section 2 hereof, and

    

    (b)     In
      case
      such exercise is in part only, a new warrant or warrants (dated the date hereof)
      of like tenor, calling in the aggregate on the face or faces thereof for the
      number of shares of Warrant Stock (without giving effect to any adjustment
      therein) equal to the number of such shares called for on the face of this
      Warrant minus the number of such shares purchased by the Holder upon such
      exercise as provided in Section 1.1 above.

    

    2.     Fractional
      Shares.
      The
      Company shall not be required upon the exercise of this Warrant to issue any
      fractional shares. As to any fraction of a share which the Holder would
      otherwise be entitled to purchase upon such exercise, the Company shall pay
      a
      cash adjustment in respect of such final fraction in an amount equal to such
      fraction multiplied by the Exercise Price.

    

    3.     Certain
      Adjustments.

    

    3.1     Changes
      in Common Stock.
      If the
      Company shall (i) combine the outstanding shares of Common Stock into a lesser
      number of shares, (ii) subdivide the outstanding shares of Common Stock into
      a
      greater number of shares, or (iii) issue additional shares of Common Stock
      as a
      dividend or other distribution with respect to the Common Stock, the number
      of
      shares of Warrant Stock shall be equal to the number of shares which the Holder
      would have been entitled to receive after the happening of any of the events
      described above if such shares had been issued immediately prior to the
      happening of such event, such adjustment to become effective concurrently with
      the effectiveness of such event. The Exercise Price in effect immediately prior
      to any such combination of Common Stock shall, upon the effectiveness of such
      combination, be proportionately increased. The Exercise Price in effect
      immediately prior to any such subdivision of Common Stock or at the record
      date
      of such dividend shall upon the effectiveness of such subdivision or immediately
      after the record date of such dividend be proportionately reduced.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    3.2     Reorganizations
      and Reclassifications.
      If
      there shall occur any capital reorganization or reclassification of the Common
      Stock (other than a change in par value or a subdivision or combination as
      provided for in Section 3.1), then, as part of any such reorganization or
      reclassification, lawful provision shall be made so that the Holder shall have
      the right thereafter to receive upon the exercise hereof the kind and amount
      of
      shares of stock or other securities or property which such Holder would have
      been entitled to receive if, immediately prior to any such reorganization or
      reclassification, such Holder had held the number of shares of Common Stock
      which were then purchasable upon the exercise of this Warrant. In any such
      case,
      appropriate adjustment (as reasonably determined by the Board of Directors
      of
      the Company) shall be made in the application of the provisions set forth herein
      with respect to the rights and interests thereafter of the Holder such that
      the
      provisions set forth in this Section 3 (including provisions with respect to
      adjustment of the Exercise Price) shall thereafter be applicable, as nearly
      as
      is reasonably practicable, in relation to any shares of stock or other
      securities or property thereafter deliverable upon the exercise of this
      Warrant.

    

    3.3     Merger,
      Consolidation or Sale of Assets.
      If
      there shall be a merger or consolidation of the Company with or into another
      corporation (other than a merger or reorganization involving only a change
      in
      the state of incorporation of the Company or the acquisition by the Company
      of
      other businesses where the Company survives as a going concern), or the sale
      of
      all or substantially all of the Company’s capital stock or assets to any other
      person, then as a part of such transaction, provision shall be made so that
      the
      Holder shall thereafter be entitled to receive the number of shares of stock
      or
      other securities or property of the Company, or of the successor corporation
      resulting from the merger, consolidation or sale (and at a total purchase price
      not to exceed that payable upon the exercise in full of this Warrant), to which
      the Holder would have been entitled if the Holder had exercised its rights
      pursuant to the Warrant immediately prior thereto. In any such case, appropriate
      adjustment shall be made in the application of the provisions of this Section
      3
      to the end that the provisions of this Section 3 shall be applicable after
      that
      event in as nearly equivalent a manner as may be practicable.

    

    3.4     Certain
      Anti-Dilution Adjustments.
      If
      during the times set forth below while any portion of this Warrant remains
      outstanding, the Company shall issue shares of Common Stock (or rights,
      warrants, or other securities convertible into or exchangeable for shares of
      Common Stock), other than issuances covered by Sections 3.1, 3.2 or 3.3 above,
      at a price per share (or having an exercise, conversion, or exchange price
      per
      share) less than the Exercise Price in effect as of the date of issuance of
      such
      shares or of such rights, warrants, or other convertible or exchangeable
      securities, then, and in each such case, the Exercise Price shall be reduced
      (i)
      until the completion by the Company of its next round of financing, which is
      expected to exceed $10,000,000, involving the issuance of shares of Common
      Stock
      or securities convertible into or exchangeable or exercisable for shares of
      Common Stock, to a price equal to the issuance, conversion, exchange or exercise
      price, as applicable, of any such securities so issued and (ii) thereafter
      to a
      price determined by dividing (a) an amount equal to the sum of (A) the number
      of
      shares of Common Stock outstanding and shares of Common Stock issuable upon
      conversion or exchange of securities of the Company outstanding immediately
      prior to such issue or sale multiplied by the then existing Exercise Price
      and
      (B) the consideration, if any, received by the Corporation upon such issue
      or
      sale by (b) the total number of shares of Common Stock outstanding and shares
      of
      Common Stock issuable upon conversion or exchange of securities of the Company
      outstanding immediately after such issue or sale. Notwithstanding anything
      to
      the contrary in clause (i) of this Section, the dilution protection afforded
      therein shall continue until the cumulative gross proceeds of such next
      financing(s) reach at least $10,000,000 and shall extend to the full amount
      of
      the gross proceeds from any integrated offering wherein this threshold is
      achieved. Notwithstanding anything contrary in this Section, there shall be
      no
      reduction to the Exercise Price pursuant to this Section with respect to (i)
      the
      issuance or sale of options to purchase shares of Common Stock to employees,
      consultants and directors, (ii) the issuance of securities pursuant to the
      conversion or exercise of convertible or exercisable securities as of the date
      of this Warrant, (as adjusted for recapitalizations, stock splits, and the
      like)
      which are currently outstanding as of the date of this Warrant or (iii) the
      issuance of securities as consideration for a bona fide business acquisition
      of
      or by the Company, whether by merger, consolidation, sale of assets, sale or
      exchange of stock or otherwise, which involves a third party which is not
      affiliated with the Company or its current stockholders or in a strategic
      allowance.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    3.5     No
      Impairment.
      The
      Company will not, by amendment of its Articles of Incorporation or any other
      organizational or shareholder rights documents of the Company, or through any
      reorganization, recapitalization, transfer of assets, consolidation, merger,
      dissolution, issue or sale of securities or any other voluntary action, seek
      to
      avoid the observance or performance of any of the terms to be observed or
      performed hereunder by the Company, but will at all times in good faith assist
      in the carrying out of all the provisions of this Section 3 and in the taking
      of
      all such action as may be necessary or appropriate in order to protect the
      rights of the holder of this Warrant against impairment.

    

    3.6     Certificate
      of Adjustment.
      When
      any adjustment is required to be made in the Exercise Price, the Company shall
      promptly mail to the Holder a certificate setting forth the Exercise Price
      after
      such adjustment and setting forth a brief statement of the facts requiring
      such
      adjustment. Delivery of such certificate shall be deemed to be a final and
      binding determination with respect to such adjustment unless challenged by
      the
      Holder within ten (10) days of receipt thereof. Such certificate shall also
      set
      forth the kind and amount of stock or other securities or property into which
      this Warrant shall be exercisable following the occurrence of any of the events
      specified in this Section 3.

    

    4.      Compliance
      with Securities Act.

    

    4.1     Unregistered
      Securities.
      The
      Holder acknowledges that this Warrant and the Warrant Stock have not been
      registered under the Securities Act of 1933, as amended, and the rules and
      regulations thereunder, or any successor legislation, and agrees not to sell,
      pledge, distribute, offer for sale, transfer or otherwise dispose of this
      Warrant or any Warrant Stock in the absence of (i) an effective registration
      statement under the Securities Act covering this Warrant or such Warrant Stock
      and registration or qualification of this Warrant or such Warrant Stock under
      any applicable “blue sky” or state securities law then in effect, or (ii) an
      opinion of counsel, reasonably satisfactory to the Company, that such
      registration and qualification are not required. The Company may delay issuance
      of the Warrant Stock until completion of any action or obtaining of any consent,
      which the Company reasonably deems necessary under any applicable law (including
      without limitation state securities or “blue sky” laws); provided,
      that
      the Company will use reasonable best efforts to complete such action or obtain
      such consent as soon as practicable.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    4.2     Investment
      Letter.
      Without
      limiting the generality of Section 4.1, unless the offer and sale of any shares
      of Warrant Stock shall have been effectively registered under the Securities
      Act, the Company shall be under no obligation to issue the Warrant Stock unless
      and until the Holder shall have executed a customary investment letter in form
      and substance reasonably satisfactory to the Company, including a warranty
      at
      the time of such exercise that the Holder is acquiring such shares for its
      own
      account, for investment and not with a view to, or for sale in connection with,
      the distribution of any such shares.

    

    4.3     Legend.
      Certificates delivered to the Holder pursuant to Section 1.3 shall bear the
      following legend or a legend in substantially similar form:

    

    “THE
      SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN TAKEN FOR INVESTMENT AND THEY
      MAY NOT BE SOLD OR OTHERWISE TRANSFERRED BY ANY PERSON, INCLUDING A PLEDGEE,
      IN
      THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SHARES UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR AN OPINION OF
      COUNSEL, SATISFACTORY TO THE COMPANY, THAT AN EXEMPTION FROM REGISTRATION IS
      THEN AVAILABLE.”

     

    5.     Registration
      Rights.

     

    5.1    Certain
      Definitions.

        As
      used in
      this Section 5,
      the
      following terms shall have the following respective
      meanings:

        “Holder”
shall
      mean the record owner of Registrable Securities.

    

    The
      terms
“Register”
      “Registered”
and
      “Registration”
refer
      to a registration effected by preparing and filing a registration statement
      in
      compliance with the Securities Act (“Registration
      Statement”),
      and the
      declaration or ordering of the effectiveness of such Registration
      Statement.

    

    “Registrable
      Securities”
shall
      mean all Common Stock not previously sold to the public and issued to the Holder
      pursuant to the exercise of this Warrant, Common Stock issued to the Holder
      upon
      conversion of the Promissory Note issued to the Holder concurrent with the
      purchase of this Warrant or Common Stock issued with respect to such shares
      pursuant to stock splits, stock dividends and similar distributions with respect
      to such shares, provided, however, that shares of Common Stock which are
      Registrable Securities shall cease to be Registrable Securities at such time,
      and for so long as, such shares are eligible for sale pursuant to Rule 144(k)
      under the Securities Act.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    “Registration
      Expenses”
shall
      mean all expenses incurred by the Company in complying with Section
      5.2 of
      this
      Agreement, including, without limitation, all federal and state registration,
      qualification and filing fees, printing expenses, fees and disbursements of
      counsel for the Company, blue sky fees and the expense of any special audits
      incident to or required by any such registration, but shall not include Selling
      Expenses.

    

    “Selling
      Expenses”
shall
      mean all underwriting discounts and selling commissions applicable to the sale
      of Registrable Securities pursuant to this Agreement and all expenses of any
      special counsel for the Holder.

    

    5.2     Piggyback
      Registration.

    

    5.2.1     Notice
      of Piggyback Registration and Inclusion of Registrable
      Securities.
      Subject
      to the terms of this Agreement, in the event the Company decides to Register
      any
      of its Common Stock for cash (either for its own account or the account of
      a
      security holder), other than pursuant to a Registration Statement which
      exclusively relates to the Registration of securities under an employee stock
      option, purchase, bonus or other benefit plan, then for so long as the Holder
      holds Registrable Securities, the Company will: (1) promptly give the Holder
      written notice thereof (which shall include a list of the jurisdictions in
      which
      the Company intends to attempt to qualify such securities under the applicable
      Blue Sky or other state securities laws) and (2) include in such Registration
      (and any related qualification under Blue Sky laws or other compliance), and
      in
      any underwriting involved therein, all the Registrable Securities specified
      in a
      written request delivered to the Company by the Holder within 10 days after
      delivery of such written notice from the Company. The right of the Holder to
      have Registrable Securities included in any Registration Statement shall be
      conditioned upon the provision by the Holder of any information reasonably
      requested by the Company within ten (10) days of such request.

    

    5.2.2     Underwriting
      in Piggyback Registration.
      If the
      Registration of which the Company gives notice is a Registered public offering
      involving an underwriting, the Company shall so advise the Holder as a part
      of
      the written notice given pursuant to Subsection 5.2.1. In
      such
      event the right of the Holder to Registration shall be conditioned upon such
      underwriting. The Holder shall, together with the Company, enter into an
      underwriting agreement with the Underwriter’s Representative for such offering.
      The Holder shall have no right to participate in the selection of the
      underwriters for an offering pursuant to this Section.

    

    5.2.3     Withdrawal
      in Piggyback Registration.
      If the
      Holder disapproves of the terms of any such underwriting, it may elect to
      withdraw therefrom by written notice to the Company and the underwriter
      delivered at least seven (7) days prior to the effective date of the
      Registration Statement. Any Registrable Securities or other securities excluded
      or withdrawn from such underwriting shall be withdrawn from such
      Registration.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5.3     Obligations
      of the Company and the Holder.

    

    5.3.1     Underwriting
      Requirements.
      In
      connection with any offering involving an underwriting of shares pursuant to
      Section 5.2, the
      Company shall not be required to include any of the Holder’s Registrable
      Securities in such underwriting unless they accept the terms of the underwriting
      as agreed upon between the Company and the underwriters selected by
      it.

    

    5.3.2     Expenses
      of Registration.
      All
      Registration Expenses incurred in connection with all Registrations pursuant
      to
      Section 5.2 shall
      be
      borne by the Company. Selling Expenses to be borne by the holders of the
      Registrable Securities Registered shall be borne pro rata on the basis of the
      number of Registrable Securities being Registered.

    

    5.4     Indemnification.

    

    5.4.1     Company’s
      Indemnification of the Holder.
      The
      Company will indemnify the Holder, and each of its directors, officers,
      stockholders, partners or other beneficial owners, and each person controlling
      the Holder, with respect to which Registration, qualification or compliance
      of
      Registrable Securities has been effected pursuant to this Warrant, and each
      underwriter, if any, and each person who controls any underwriter against all
      claims, losses, damages or liabilities, including reasonable legal fees and
      expenses (or actions in respect thereof) to the extent such claims, losses,
      damages or liabilities arise out of or are based upon any untrue statement
      (or
      alleged untrue statement) of a material fact contained in any prospectus or
      other document (including any related Registration Statement) incident to any
      such Registration, qualification or compliance, or are based on any omission
      (or
      alleged omission) to state therein a material fact required to be stated therein
      or necessary to make the statements therein not misleading,
      or any violation by the Company of any rule or regulation promulgated under
      the
      Securities Act applicable to the Company and relating to action or inaction
      required of the Company in connection with any such Registration, qualification
      or compliance; and the Company will reimburse the Holder, each of its directors,
      officers, stockholders, partners or other beneficial owners, each such
      underwriter and each person who controls the Holder or underwriter for any
      legal
      and any other expenses reasonably incurred in connection with investigating
      or
      defending any such claim, loss, damage, liability or action; provided, however,
      that the indemnity contained in this Section 5.4 shall not apply to amounts
      paid
      in settlement of any such claim, loss, damage, liability or action if settlement
      is effected without the consent of the Company (which consent shall
      not
      unreasonably be withheld); and provided further, that the Company will not
      be
      liable in any such case to the extent that any such claim, loss, damage,
      liability or expense arises out of or is based upon any untrue statement or
      omission based upon written information furnished to the Company by the Holder,
      underwriter or controlling person and stated to be for use in connection with
      the offering of securities of the Company.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    5.4.2     The
      Holder’s Indemnification of Company.
      The
      Holder will, if Registrable Securities held by the Holder are included in the
      securities as to which such Registration, qualification or compliance is being
      effected pursuant to this Warrant, indemnify the Company, each of its directors
      and officers, each legal counsel and independent accountant of the Company,
      each
      underwriter, if any, of the Company’s securities covered by such a Registration
      Statement, and each person who controls the Company or such underwriter within
      the meaning of the Securities Act against all claims, losses, damages or
      liabilities, including reasonable legal fees and expenses (or actions in respect
      thereof), to the extent such claims, losses, damages or liabilities arise out
      of
      or based upon any untrue statement (or alleged untrue statement) of a material
      fact furnished in writing by the Holder or on the Holder’s behalf expressly for
      use in any such Registration Statement, prospectus, offering circular or other
      document, or any omission (or alleged omission) to state therein a material
      fact
      required to be stated therein or necessary to make the statements therein not
      misleading, or any violation by the Holder of any rule or regulation promulgated
      under the Securities Act applicable to the Holder and relating to action or
      inaction required of the Holder in connection with any such Registration,
      qualification or compliance; and will reimburse the Company, such directors,
      officers, partners, persons, law and accounting firms, underwriters or control
      persons for any legal and any other expenses reasonably incurred in connection
      with investigating or defending any such claim, loss, damage, liability or
      action, in each case to the extent, but only to the extent, that such untrue
      statement (or alleged untrue statement) or omission (or alleged omission) is
      made in such Registration Statement, prospectus, offering circular or other
      document in reliance upon and in conformity with written information furnished
      to the Company by the Holder and stated to be specifically for use in connection
      with the offering of securities of the Company; provided, however,
      that
      the Holders’ liability under this Section 5.4 shall
      not
      exceed the Holder’s proceeds from the offering of securities made in connection
      with such Registration.

    

    5.4.3     Indemnification
      Procedure. Promptly after receipt by an indemnified party under this Section
      5.4
      of notice of the commencement of any action, such indemnified party will, if
      a
      claim in respect thereof is to be made against an indemnifying party under
      this
      Section 5.4, notify the indemnifying party in writing of the commencement
      thereof and generally summarize such action. The indemnifying party shall have
      the right to participate in and to assume the defense of such claim; provided,
      however, that the indemnifying party shall be entitled to select counsel for
      the
      defense of such claim with the approval of any parties entitled to
      indemnification, which approval shall not be unreasonably withheld; provided
      further, however, that if either party reasonably determines that there may
      be a
      conflict between the position of the Company and the Holders in conducting
      the
      defense of such action, suit or proceeding by reason of recognized claims for
      indemnity under this Section 5.4, then counsel for such party shall be entitled
      to conduct the defense to the extent reasonably determined by such counsel
      to be
      necessary to protect the interest of such party. The failure to notify an
      indemnifying party promptly of the commencement of any such action, if
      prejudicial to the ability of the indemnifying party to defend such action,
      shall relieve such indemnifying party, to the extent so prejudiced, of any
      liability to the indemnified party under this Section 5.4, but the omission
      so
      to notify the indemnifying party will not relieve such party of any liability
      that such party may have to any indemnified party otherwise other than under
      this Section 5.4.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    5.4.4     Subsequent
      Transferees.
      The
      provisions of this Section 5.4 applicable
      to the Holder shall apply with equal force and effect to each subsequent
      transferee to whom any of the Registrable Securities are transferred with the
      consent of the Company.

    

    6.     Reservation
      of Stock.
      The
      Company will at all times thereafter reserve and keep available, solely for
      issuance and delivery upon the exercise of this Warrant, such shares of Warrant
      Stock and other stock, securities and property, as from time to time shall
      be
      issuable upon the exercise of this Warrant. The Company covenants that all
      shares of Warrant Stock so issuable will, when issued, be duly and validly
      issued and fully paid and nonassessable.

    

    7.     Replacement
      of Warrants.
      Upon
      receipt of evidence reasonably satisfactory to the Company of the loss, theft,
      destruction or mutilation of this Warrant and (in the case of loss, theft or
      destruction) upon delivery of an indemnity agreement (with surety if reasonably
      required) in an amount reasonably satisfactory to the Company, or (in the case
      of mutilation) upon surrender and cancellation of this Warrant, the Company
      will
      issue, in lieu thereof, a new Warrant of like tenor.

    

    8.     Termination
      upon Certain Events.
      If
      there shall be a merger or consolidation of the Company with or into another
      corporation (other than a merger or reorganization involving only a change
      in
      the state of incorporation of the Company or the acquisition by the Company
      of
      other businesses where the Company survives as a going concern), or the sale
      of
      all or substantially all of the Company’s capital stock or assets to any other
      person, or the liquidation or dissolution of the Company, then as a part of
      such
      transaction, at the Company’s option, either:

    

    (a)     provision
      shall be made so that the Holder shall thereafter be entitled to receive the
      number of shares of stock or other securities or property of the Company, or
      of
      the successor corporation resulting from the merger, consolidation or sale,
      to
      which the Holder would have been entitled if the Holder had exercised its rights
      pursuant to the Warrant immediately prior thereto (and, in such case,
      appropriate adjustment shall be made in the application of the provisions of
      this Section 8(a) to the end that the provisions of Section 3 shall be
      applicable after that event in as nearly equivalent a manner as may be
      practicable); or

    (b)     this
      Warrant shall terminate on the effective date of such merger, consolidation
      or
      sale (the “Termination Date”)
      and
      become null and void, provided
      that if
      this Warrant shall not have otherwise terminated or expired, (1) the Company
      shall have given the Holder written notice of such Termination Date at least
      ten
      (10) business days prior to the occurrence thereof and (2) the Holder shall
      have
      the right until 5:00 p.m., Eastern Standard Time, on the day immediately prior
      to the Termination Date to exercise its rights hereunder to the extent not
      previously exercised.

    

    9.     Transferability.
      Without
      the prior written consent of the Company, which consent shall not be
      unreasonably withheld or delayed, the Warrant shall not be assigned, pledged
      or
      hypothecated in any way (whether by operation of law or otherwise) and shall
      not
      be subject to execution, attachment or similar process. Any attempted transfer,
      assignment, pledge, hypothecation or other disposition of the Warrant or of
      any
      rights granted hereunder contrary to the provisions of this Section 8, or the
      levy of any attachment or similar process upon the Warrant or such rights,
      shall
      be null and void.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    10.     No
      Rights as Stockholder.
      Until
      the exercise of this Warrant, the Holder shall not have or exercise any rights
      by virtue hereof as a stockholder of the Company.

    

    11.     Company’s
      Representations.

    

    As
      a
      material inducement to the Holder to purchase this Warrant, the Company hereby
      represents and warrants that:

    

    (a)     The
      Company shall have made all filings under applicable federal and state
      securities laws necessary to consummate the issuance of this Warrant pursuant
      to
      this Agreement in compliance with such laws, except for such filings as may
      be
      made properly after the Grant Date.

    

    (b)     If
      there
      are parties to any stock purchase agreements whose consent or approval is
      required prior to the execution and delivery of this Warrant, the Company and
      any such parties shall have entered into an amendment to each such stock
      purchase agreement to provide for such consent and any required waivers, in
      such
      form and substance acceptable to the Holder, and such amendment shall be in
      full
      force and effect as of the date hereof.

    

    (c)     If
      there
      are parties to any investor’s rights agreements whose consent or approval is
      required prior to the execution and delivery of this Warrant, the Company and
      any such parties shall have entered into an amendment to each such investor’s
      rights agreement providing for such consent and any required waivers, in such
      form and substance acceptable to Holder, and such amendment shall be in full
      force and effect as of the date hereof.

    

    (d)     The
      copies of any existing stock purchase agreements and investor’s rights
      agreements and the Company’s charter documents and bylaws which have been
      furnished to Holder or the Holder’s counsel reflect all amendments made thereto
      at any time prior to the date hereof and are correct and
      complete.

    (e)    As
      of the
      date hereof, all of the outstanding shares of the Company’s capital stock shall
      be validly issued, fully paid and nonassessable.

    

    (f)     With
      respect to the issuance of this Warrant or the issuance of the Common Stock
      upon
      exercise of the Warrant, there are no statutory or contractual stockholders
      preemptive rights or rights of refusal, except for any such rights contained
      in
      any stock purchase agreement and/or investor’s rights agreements which have been
      waived. The Company has not violated any applicable federal or state securities
      laws in connection with the offer, sale or issuance of any of its capital stock,
      and the offer, sale and issuance of this Warrant does not require registration
      under the Securities Act or any applicable state securities laws. To the best
      of
      the Company’s knowledge, there are no agreements between the Company’s
      stockholders with respect to the voting or transfer of the Company’s capital
      stock or with respect to any other aspect of the Company’s affairs.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (g)     The
      execution, delivery and performance of this Warrant has been duly authorized
      by
      the Company. This Warrant constitutes a valid and binding obligation of the
      Company, enforceable in accordance with its terms. The execution and delivery
      by
      the Company of this Warrant, the issuance of the Common Stock upon exercise
      of
      the Warrant, and the fulfillment of and compliance with the respective terms
      hereof and thereof by the Company, do not and shall not (i) conflict with or
      result in a breach of the terms, conditions or provisions of, (ii) constitute
      a
      default under, (iii) result in the creation of any lien, security interest,
      charge or encumbrance upon the Company’s capital stock or assets pursuant to,
      (iv) give any third party the right to modify, terminate or accelerate any
      obligation under, (v) result in a violation of, or (vi) require any
      authorization, consent, approval, exemption or other action by or notice or
      declaration to, or filing with, any court or administrative or governmental
      body
      or agency pursuant to, the charter or bylaws of the Company or any subsidiary,
      or any law, statute, rule or regulation to which the Company or any subsidiary
      is subject, or any agreement, instrument, order, judgment or decree to which
      the
      Company or any subsidiary is subject, except for any such filings required
      under
      applicable “blue sky” or state securities laws or required under Regulation D
      promulgated under the Securities Act.

    

    12.     Notices.
      All
      notices, requests and other communications hereunder shall be in writing, shall
      be (i) delivered by hand, (ii) made by telex, telecopy or facsimile
      transmission, (iii) sent by overnight courier, or (iv) sent by registered mail,
      postage prepaid, return receipt requested. In the case of notices from the
      Company to the Holder, they shall be sent to the address furnished to the
      Company in writing by the last Holder who shall have furnished an address to
      the
      Company in writing. All notices from the Holder to the Company shall be
      delivered to the Company at its offices at 7 West 18th
      Street,
      New York, New York 10011 or such other address as the Company shall so notify
      the Holder. All notices, requests and other communications hereunder shall
      be
      deemed to have been given (i) by hand, at the time of the delivery thereof
      to
      the receiving party at the address of such party described above, (ii) if made
      by telex, telecopy or facsimile transmission, at the time that receipt thereof
      has been acknowledged by electronic confirmation or otherwise, (iii) if sent
      by
      overnight courier, on the next business day following the day such notices
      is
      delivered to the courier service, or (iv) if sent by registered mail, on the
      fifth business day following the day such mailing is made.

    

    

    13.     Waivers
      and Modifications.
      Any
      term or provision of this Warrant may be waived only by written document
      executed by the party entitled to the benefits of such terms or provisions.
      The
      terms and provisions of this Warrant may be modified or amended only by written
      agreement executed by the parties hereto.

    

    14.     Headings.
      The
      headings in this Warrant are for convenience of reference only and shall in
      no
      way modify or affect the meaning or construction of any of the terms or
      provisions of this Warrant.

    

    15.     Governing
      Law.
      This
      Warrant will be governed by and construed in accordance with and governed by
      the
      laws of the State of New York, without giving effect to the conflict of law
      principles thereof.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    16.     Consent
      to Jurisdiction.
      Each
      party hereto hereby irrevocably and unconditionally submits to the jurisdiction
      of any federal or state court sitting in the County of New York in the State
      of
      New York and irrevocably agrees that all actions or proceedings arising out
      of
      or relating to this Note shall be litigated exclusively in such court. Each
      party hereto agrees not to commence any legal proceeding related hereto or
      thereto except in such courts. Each party hereto irrevocably waives any
      objection which it may now or hereafter have to the laying of the venue of
      any
      such proceeding in any such court and hereby further irrevocably and
      unconditionally waives and agrees not to plead or claim in any such court that
      any such action, suit or proceeding brought in any such court has been brought
      in an inconvenient forum. Each party hereto consents to process being served
      in
      any such action or proceeding by mailing a copy thereof by registered or
      certified mail.

    

    17.     Waiver
      of Jury Trial.
      Each
      party hereto hereby waives, to the fullest extent permitted by applicable law,
      any right it may have to a trial by jury in respect of any litigation directly
      or indirectly arising out of, under or in connection with this Note. Each party
      hereto (1) certifies that no representative, agent or attorney of any of the
      other parties has represented, expressly or otherwise, that any of the other
      parties would not, in the event of litigation, seek to enforce the foregoing
      waiver and (2) acknowledges that it and the other parties hereto have been
      induced to enter into this agreement, by, among other things, the mutual waivers
      and certifications in this Section 17.

    

    18.     Severability.
      If any
      term, provision, covenant or restriction of this Warrant is held by a court
      of
      competent jurisdiction to be invalid, void or unenforceable, it shall be deemed
      replaced with a valid and enforceable provision that comes as close as possible
      to the economic purpose of the invalid, void or unenforceable provision, and
      the
      remainder of the terms, provisions, covenants and restrictions of this Warrant
      shall remain in full force and effect and shall in no way be affected, impaired
      or invalidated.

    

    [The
      remainder of this page is
      intentionally
      left blank.]

    

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
      WITNESS WHEREOF,
      this
      Warrant has been executed and delivered on the date first written above by
      the
      duly authorized representative of the Company.

    

    INTELLECT
      NEUROSCIENCES, INC.

    

    By:
      _________________________

    Name:
      Elliot M. Maza

    Title:  
President
&
CFO

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    EXHIBIT A

    

    PURCHASE FORM

    

    

    To: INTELLECT NEUROSCIENCES,
      INC.

    

    The
      undersigned pursuant to the provisions set forth in the attached Warrant (No.
      )
      hereby irrevocably elects to purchase shares of the Common Stock, par value
      $0.01 per share, of INTELLECT NEUROSCIENCES, INC. (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.

    

    The
      Common Stock for which the Warrant may be exercised or converted shall be known
      herein as the “Warrant Stock”.

    

    The
      undersigned is aware that the Warrant Stock has not been and will not be
      registered under the Securities Act of 1933, as amended (the “Securities Act”)
      or
      any
      state securities laws. The undersigned understands that reliance by the Company
      on exemptions under the Securities Act is predicated in part upon the truth
      and
      accuracy of the statements of the undersigned in this Purchase
      Form.

    

    The
      undersigned represents and warrants that (1) it has been furnished with all
      information which it deems necessary to evaluate the merits and risks of the
      purchase of the Warrant Stock, (2) it has had the opportunity to ask questions
      concerning the Warrant Stock and the Company and all questions posed have been
      answered to its satisfaction, (3) it has been given the opportunity to obtain
      any additional information it deems necessary to verify the accuracy of any
      information obtained concerning the Warrant Stock and the Company and (4) it
      has
      such knowledge and experience in financial and business matters that it is
      able
      to evaluate the merits and risks of purchasing the Warrant Stock and to make
      an
      informed investment decision relating thereto.

    

    The
      undersigned hereby represents and warrant that it is purchasing the Warrant
      Stock for its own account for investment and not with a view to the sale or
      distribution of all or any part of the Warrant Stock.

    

    The
      undersigned understands that because the Warrant Stock has not been registered
      under the Securities Act, it must continue to bear the economic risk of the
      investment for an indefinite period of time and the Warrant Stock cannot be
      sold
      unless it is subsequently registered under applicable federal and state
      securities laws or an exemption from such registration is
      available.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    The
      undersigned agrees that it will in no event sell or distribute or otherwise
      dispose of all or any part of the Warrant Stock unless (1) there is an effective
      registration statement under the Securities Act and applicable state securities
      laws covering any such transaction involving the Warrant Stock, or (2) the
      Company receives an opinion satisfactory to the Company of the undersigned’s
      legal counsel stating that such transaction is exempt from registration. The
      undersigned consents to the placing of a legend on its certificate for the
      Warrant Stock stating that the Warrant Stock has not been registered and setting
      forth the restriction on transfer contemplated hereby and to the placing of
      a
      stop transfer order on the books of the Company and with any transfer agents
      against the Warrant Stock until the Warrant Stock may be legally resold or
      distributed without restriction.

    

    The
      undersigned has considered the federal and state income tax implications of
      the
      exercise of the Warrant and the purchase and subsequent sale of the Warrant
      Stock.

    

    

    

    

    By:__________________________________

    Name:

    Title

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00125-of-00352.parquet"}]]