Document:

THIS
      WARRANT AND ANY SHARES ACQUIRED UPON THE EXERCISE OF THIS WARRANT HAVE NOT
      BEEN
      REGISTERED UNDER THE SECURITIES ACT OF 1933 AND MAY NOT BE TRANSFERRED, SOLD
      OR
      OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
      UNDER SUCH ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY
      THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT.

    

    PROTEIN
      POLYMER TECHNOLOGIES, INC.

    

    COMMON
      STOCK PURCHASE WARRANT

    

    _____________,
      200_

    

    THIS
      COMMON STOCK PURCHASE WARRANT (this “Warrant”)
      of
      Protein Polymer Technologies, Inc., a corporation duly organized and validly
      existing under the laws of the State of Delaware (the “Company”),
      is
      issued to the Holder (as defined below).

    

    FOR
      VALUE
      RECEIVED, the Company hereby certifies that the registered holder hereof and
      its
      successors and assigns, ___________ (the “Holder”)
      is
      entitled to purchase from the Company _______ duly authorized, validly issued,
      fully paid and nonassessable shares of common stock of the Company, par value
      $0.01 per share (the “Common
      Stock”),
      at a
      purchase price per share equal to $_____, as may be adjusted to the
      anti-dilution provisions set forth herein (the “Warrant
      Price”).
      The
      person or entity in whose name this Warrant (or one or more predecessor
      Warrants) is registered on the records of the Company regarding registration
      and
      transfers of the Warrant (the “Warrant
      Register”)
      is the
      owner and holder thereof for all purposes, except as described in Section
      11
      hereof.

    

    1. Vesting
      of Warrant.
      This
      Warrant shall vest and become exercisable as of the date hereof.

    

    2.
       Expiration
      of Warrant.
      This
      Warrant shall expire on _________ (the “Expiration
      Date”).

    

    3.
       Exercise
      of Warrant.
      This
      Warrant shall be exercisable pursuant to the terms of Section
      1
      and this
Section
      3
      hereof.

    

    3.1
       Manner
      of
      Exercise. This Warrant may only be exercised by the Holder hereof, in accordance
      with the terms and conditions hereof, in whole or in part with respect to any
      portion of the Warrant, into shares of Common Stock, during normal business
      hours on any day other than a Saturday or a Sunday or a day on which commercial
      banking institutions in New York, New York are authorized by law to be closed
      (a
“Business
      Day”)
      on or
      prior to the Expiration Date with respect to such portion of the Warrant, by
      surrender of this Warrant to the Company at its office maintained pursuant
      to
Section
      11.2(a)
      hereof,
      accompanied by an exercise notice in substantially the form attached to this
      Warrant as Exhibit
      A
      (or a
      reasonable facsimile thereof) duly executed by the Holder, together with the
      payment of the Warrant Price. 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    3.2
        When
      Exercise Effective. Each exercise of this Warrant shall be deemed to have been
      effected immediately prior to the close of business on the Business Day on
      which
      this Warrant shall have been surrendered to the Company as provided in
Section
      3.1
      hereof,
      and, at such time, the corporation, association, partnership, organization,
      business, individual, government or political subdivision thereof or a
      governmental agency (a “Person”
or
      the
“Persons”)
      in
      whose name or names any certificate or certificates for shares of Common Stock
      shall be issuable upon exercise as provided in Section
      3.3
      hereof
      shall be deemed to have become the holder or holders of record thereof.

    

    3.3
        Delivery
      of Stock Certificates. As soon as practicable after each exercise of this
      Warrant, in whole or in part, and in any event within fifteen (15) 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 hereof or, subject to Section
      10
      hereof,
      as the Holder (upon payment by the Holder of any applicable transfer taxes)
      may
      direct:

    

    (a)
      a
      certificate or certificates (with appropriate restrictive legends, as
      applicable) for the number of duly authorized, validly issued, fully paid and
      nonassessable shares of Common Stock to which the Holder shall be entitled
      upon
      exercise plus, in lieu of any fractional share to which the Holder would
      otherwise be entitled, all issuances of Common Stock shall be rounded up to
      the
      nearest whole share.

    

    (b)
      in
      case exercise is in part only, a new Warrant of like tenor, dated the date
      hereof and calling in the aggregate on the face thereof for the number of shares
      of Common Stock equal to the number of shares called for on the face of this
      Warrant minus the number of shares designated by the Holder upon exercise as
      provided in Section
      3.1
      hereof
      (without giving effect to any adjustment thereof).

    

    3.4  Company
      to Reaffirm Obligations. The Company will, at the time of each exercise of
      this
      Warrant, upon the written request of the Holder hereof, acknowledge in writing
      its continuing obligation to afford to the Holder all rights (including without
      limitation any rights to registration of the shares of Common Stock issued
      upon
      exercise) to which the Holder shall continue to be entitled after exercise
      in
      accordance with the terms of this Warrant; provided,
      however,
      that if
      the Holder shall fail to make a request, the failure shall not affect the
      continuing obligation of the Company to afford the rights to such
      Holder.

    

    4.
       Adjustment
      of Common Stock Issuable Upon Exercise.
      The
      Warrant Price shall be subject to be adjusted and re-adjusted from time to
      time
      as provided in this Section
      4
      and, as
      so adjusted or re-adjusted, shall remain in effect until a further adjustment
      or
      re-adjustment thereof is required by this Section
      4:

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

    4.1
        Stock
      Dividends; Stock Splits. In case the Company at any time or from time to time
      after the date hereof shall declare or pay any dividend on the Common Stock
      payable in Common Stock, or shall effect a subdivision of the outstanding shares
      of Common Stock into a greater number of shares of Common Stock (by
      reclassification or otherwise than by payment of a dividend in Common Stock),
      then, and in each case, subject to Section
      4.3
      hereof,
      the Warrant Price shall be reduced, concurrently with the dividend or
      subdivision, to a price determined by multiplying the Warrant Price by a
      fraction:

    

    (a)
      the
      numerator of which shall be the number of shares of Common Stock outstanding
      immediately prior to the dividend or subdivision; and 

    

    (b)
      the
      denominator of which shall be the number of shares of Common Stock outstanding
      immediately after the dividend or subdivision.

    

       Additional
      shares of Common Stock shall be deemed to have been issued and to be outstanding
      (a) in the case of any dividend, immediately after the close of business on
      the
      record date for the determination of holders of any class of securities entitled
      to receive the dividend, or (b) in the case of any subdivision, at the close
      of
      business on the day immediately prior to the day upon which the corporate action
      becomes effective. Additional shares of Common Stock deemed to have been issued
      pursuant to this Section
      4.1
      shall be
      deemed to have been issued for no consideration.

    

    4.2 Subscription
      Offerings. In case the Company shall issue to stockholders or otherwise rights,
      options, or warrants entitling the holders thereof to subscribe for or purchase
      Common Stock (or securities convertible into or exchangeable for Common Stock)
      at a price per share (or having a conversion price per share, in the case of
      a
      security convertible into or exchangeable for Common Stock) less than the lower
      of the then Exercise Price or the Current Market Price per share (as defined
      in
Paragraph
      4.4
      below)
      on the record date for the determination of stockholders entitled to receive
      such rights, or otherwise on the granting date, as the case may be, then in
      each
      such case the Exercise Price shall be adjusted by multiplying the Exercise
      Price
      in effect immediately prior to such record or granting date, as the case may
      be,
      by a fraction, of which the numerator shall be the number of shares of Common
      Stock outstanding on such record or granting date plus the number of shares
      of
      Common Stock which the aggregate offering price of the total number of shares
      of
      Common Stock so to be offered (or the aggregate initial conversion price of
      the
      convertible securities so to be offered) would purchase at such Exercise Price
      or Current Market Price, as the case may be, and of which the denominator shall
      be the number of shares of Common Stock outstanding on such record or granting
      date plus the number of additional shares of Common Stock to be offered for
      subscription or purchase (or into which the convertible or exchangeable
      securities so to be offered are initially convertible or exchangeable). Such
      adjustment shall become effective at the close of business on such record date
      or granting date, as the case may be; provided,
      however,
      that,
      to the extent the shares of Common Stock (or securities convertible into or
      exchangeable for shares of Common Stock) are not delivered, the Exercise Price
      shall be readjusted after the expiration of such rights, options, or warrants
      (but only to the extent that the Warrants are not exercised after such
      expiration), to the Exercise Price which would then be in effect had the
      adjustments made upon the issuance of such rights or warrants been made upon
      the
      basis of delivery of only the number of shares of Common Stock (or securities
      convertible into or exchangeable for shares of Common Stock) actually issued.
      In
      case any subscription price may be paid in a consideration part or all of which
      shall be in a form other than cash, the value of such consideration shall be
      as
      determined in good faith by the Company's Board of Directors. Shares of Common
      Stock owned by or held for the account of the Company or any majority-owned
      subsidiary shall not be deemed outstanding for the purpose of any such
      computation. 

    
      
         

      

      
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    4.3 Other
      Rights to Acquire Common Stock. In case the Company shall distribute to all
      holders of its Common Stock evidences of its indebtedness or assets (excluding
      cash dividends or distributions paid from retained earnings of Maker) or rights
      or warrants to subscribe or purchase Common stock (excluding those referred
      to
      in Paragraph
      4.2
      above),
      then in each such case the Exercise Price shall be adjusted so that the same
      shall equal the price determined by multiplying the Exercise Price in effect
      immediately prior to the date of such distribution by a fraction of which the
      numerator shall be the Current Market Price per share (as defined in
Paragraph
      4.4
      below)
      of the Common Stock on the Record Date mentioned below less the then fair market
      value (as determined in good faith by the Board of Directors of the Company)
      of
      the portion of the assets or evidences of indebtedness so distributed or of
      such
      rights or warrants applicable to one share of Common Stock, and the denominator
      shall be the Current Market Price per share of the Common Stock. Such adjustment
      shall become effective immediately after the Record Date for the determination
      of shareholders entitled to receive such distribution. 

    

    4.4  For
      the
      purpose of any computation under Paragraph
      4.2 and 3
      of this
Section
      4,
      the
      Current Market Price per share of Common Stock on any date shall be deemed
      to be
      the average of the daily closing prices for the 30 consecutive trading days
      commencing 45 trading days before such date. The closing price for each day
      shall be the last reported sales price regular way or, in case no such reported
      sale takes place on such day, the closing bid price regular way, in either
      case
      on the principal national securities exchange on which the Common Stock is
      listed or admitted to trading or, if the Common Stock is not listed or admitted
      to trading on any national securities exchange, the highest reported bid price
      as furnished by the National Association of Securities Dealers, Inc. through
      NASDAQ or similar organization if NASDAQ is no longer reporting such
      information, or by the Pink Sheets, LLC or similar organization if the Common
      Stock is not then quoted on an inter-dealer quotation system. If on any such
      date the Common Stock is not quoted by any such organization, the fair value
      of
      the Common Stock on such date, as determined in good faith by the Company's
      Board of Directors, shall be used.

    

    4.5  Adjustments
      for Combinations. In case the outstanding shares of Common Stock shall be
      combined or consolidated, by reclassification or otherwise, into a lesser number
      of shares of Common Stock, the Warrant Price in effect immediately prior to
      the
      combination or consolidation shall, concurrently with the effectiveness of
      such
      combination or consolidation, be proportionately increased. Adjustment under
      this Section
      4.5
      shall
      become effective at the close of business on the day immediately prior to the
      day upon which the corporate action becomes effective.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

    4.6
        Minimum
      Adjustment of Warrant Price. If the amount of any adjustment of the Warrant
      Price required pursuant to this Section
      4
      would be
      less than one percent (1%) of the Warrant Price in effect at the time of the
      adjustment is otherwise so required to be made, the amount shall be carried
      forward and adjustment with respect thereto made at the time of and together
      with any subsequent adjustment which, together with the amount and any other
      amount or amounts so carried forward, shall aggregate at least one percent
      (1%)
      of the Warrant Price.

    

    5.  Adjustments
      for Consolidation, Merger, Sale of Assets or Reorganization.
      In case
      the Company after the date hereof (a) shall consolidate with or merge into
      any
      other Person and shall not be the continuing or surviving corporation following
      the consolidation or merger, or (b) shall permit any other Person to consolidate
      with or merge into the Company and the Company shall be the continuing or
      surviving Person but, in connection with the consolidation or merger, the Common
      Stock shall be changed into or exchanged for stock or other securities of any
      other Person or cash or any other property, or (c) shall transfer all or
      substantially all of its properties or assets to any other Person, or (d) shall
      effect a capital reorganization or reclassification of the Common Stock, then,
      and in the case of each such transaction, proper provision shall be made so
      that, upon the basis and the terms and in the manner provided in this Warrant,
      the Holder, upon the exercise hereof at any time after the consummation of
      the
      transaction, shall be entitled to receive (at the aggregate Warrant Price in
      effect at the time of such consummation for all Common Stock issuable upon
      exercise immediately prior to the consummation), in lieu of the Common Stock
      issuable upon exercise prior to the consummation, the greatest amount of
      securities, cash or other property to which the Holder would actually have
      been
      entitled as a stockholder upon such consummation if the Holder had exercised
      the
      rights represented by this Warrant immediately prior thereto, subject to
      adjustments (subsequent to the consummation) as nearly equivalent as possible
      to
      the adjustments provided for in Sections
      4
      and
5
      hereof.

    

    6.
       No
      Dilution or Impairment.

    

    6.1  The
      Company will not, by amendment of its certificate of incorporation or through
      any consolidation, merger, reorganization, transfer of assets, dissolution,
      issue or sale of securities or any other voluntary action, avoid or seek to
      avoid the observance or performance of any of the terms of this Warrant, but
      will at all times in good faith assist in the carrying out of all of the terms
      and in the taking of all actions necessary or appropriate in order to protect
      the rights of the Holder. Without limiting the generality of the foregoing,
      the
      Company (a) will not permit the par value of any shares of Common Stock
      receivable upon the exercise of this Warrant to exceed the amount payable
      therefor upon exercise, (b) will take all actions necessary or appropriate
      in
      order that the Company may validly and legally issue fully paid and
      nonassessable shares of Common Stock on the exercise of the Warrant and (c)
      will
      not take any action which results in any adjustment of the Warrant Price if
      the
      total number of shares of Common Stock issuable after the action upon the
      exercise of the Warrant would exceed the total number of shares of Common Stock
      then authorized by the Company's certificate of incorporation and available
      for
      the purpose of issuance upon exercise.

    
      
         

      

      
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    6.2  The
      Company acknowledges that its obligation to issue shares of Common Stock
      issuable upon exercise of this Warrant is binding upon it and enforceable
      regardless of the dilution that such issuance may have on the ownership
      interests of other stockholders.

    

    7.
       Chief
      Financial Officer’s Report as to Adjustments.
      In the
      case of any adjustment or re-adjustment in the shares of Common Stock issuable
      upon the exercise of this Warrant, the Company at its expense will promptly
      compute the adjustment or re-adjustment in accordance with the terms of this
      Warrant and cause its Chief Financial Officer to certify the computation (other
      than any computation of the fair value of property as determined in good faith
      by the Board of Directors of the Company) and prepare a report setting forth
      the
      adjustment or re-adjustment and showing in reasonable detail the method of
      calculation thereof and the facts upon which the adjustment or re-adjustment
      is
      based, including a statement of (a) the number of shares of Common Stock
      outstanding or deemed to be outstanding and (b) the Warrant Price in effect
      immediately prior to the deemed issuance or sale and as adjusted and re-adjusted
      (if required by Section
      4
      hereof)
      on account thereof. The Company will forthwith mail a copy of each report to
      each holder of a Warrant and will, upon the written request at any time of
      any
      holder of a Warrant, furnish to the holder a like report setting forth the
      Warrant Price at the time in effect and showing in reasonable detail how it
      was
      calculated. The Company will also keep copies of all reports at its office
      maintained pursuant to Section
      11.2(a)
      hereof
      and will cause them to be available for inspection at the office during normal
      business hours upon reasonable notice by any holder of a Warrant or any
      prospective purchaser of a Warrant designated by the holder
      thereof.

    

    8. Reservation
      of Shares.
      The
      Company shall at all times reserve and keep available out of its authorized
      but
      unissued shares of Common Stock, free from all taxes, liens and charges with
      respect to the issue thereof and not be subject to preemptive rights or other
      similar rights of stockholders of the Company, solely for the purpose of
      effecting the exercise of this Warrant, such number of its shares of Common
      Stock as shall from time to time be sufficient to effect the exercise thereof,
      and if at any time the number of authorized but unissued shares of Common Stock
      shall not be sufficient to effect the exercise of this Warrant, in addition
      to
      such other remedies as shall be available to Holder, the Company will take
      such
      corporate action as may, in the opinion of its counsel, be necessary to increase
      the number of authorized but unissued shares of Common Stock to such number
      of
      shares as shall be sufficient for such purposes, including without limitation,
      using its best efforts to obtain the requisite stockholder approval necessary
      to
      increase the number of authorized shares of the Company’s Common Stock. All
      shares of Common Stock issuable upon exercise of the Warrant shall be duly
      authorized and, when issued upon exercise, shall be validly issued and, in
      the
      case of shares, fully paid and nonassessable.

    
      
         

      

      
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    9. Listing.
      The
      Company shall at all times comply in all respects with the Company’s reporting,
      filing and other obligations under the by-laws or rules of the upon each
      national securities exchange or automated quotation system upon which shares
      of
      Common Stock are then listed and shall list the shares issuable upon the
      exercise of this Warrant on such national securities exchange.

    

    10.
       Restrictions
      on Transfer.

    

    10.1
       Restrictive
      Legends. This Warrant and each Warrant issued upon transfer or in substitution
      for this Warrant pursuant to Section
      11,
      each
      certificate for Common Stock issued upon the exercise of any Warrant and each
      certificate issued upon the transfer of any such Common Stock shall be
      transferable only upon satisfaction of the conditions specified in this
Section
      10.
      Each of
      the foregoing securities shall be stamped or otherwise imprinted with a legend
      reflecting the restrictions on transfer set forth in Section
      10
      hereof
      and any restrictions required under the Securities Act of 1933 (the
“Act”).

    

    10.2 Notice
      of
      Proposed Transfer; Opinion of Counsel. Prior to any transfer of any securities
      that are not registered under an effective registration statement under the
      Act
      (“Restricted
      Securities”),
      the
      Holder will give written notice to the Company of the Holder's intention to
      affect a transfer and to comply in all other respects with this Section
      10.2.
      Each
      notice (a) shall describe the manner and circumstances of the proposed transfer,
      and (b) shall designate counsel for the Holder giving the notice (who may be
      in-house counsel for the Holder). The Holder giving notice will submit a copy
      thereof to the counsel designated in the notice. The following provisions shall
      then apply:

    

    (i)
      If in
      the opinion of counsel for the Holder reasonably satisfactory to the Company
      the
      proposed transfer (i.e. private sale of Restricted Securities) may be effected
      without registration of Restricted Securities under the Act (which opinion
      shall
      state the basis of the legal conclusions reached therein), the Holder shall
      thereupon be entitled to transfer the Restricted Securities in accordance with
      the terms of the notice delivered by the Holder to the Company. Each certificate
      representing the Restricted Securities issued upon or in connection with any
      transfer shall bear the restrictive legends required by Section
      10.1
      hereof.

    

    (ii)
      If
      the opinion called for in (i) above is not delivered, the Holder shall not
      be
      entitled to transfer the Restricted Securities until either (x) receipt by
      the
      Company of a further notice from such Holder pursuant to the foregoing
      provisions of this Section
      10.2
      and
      fulfillment of the provisions of clause (i) above, or (y) such Restricted
      Securities have been effectively registered under the Act.

    
      
         

      

      
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    10.3
       Termination
      of Restrictions. The restrictions imposed by this Section
      10
      upon the
      transferability of Restricted Securities shall cease and terminate as to any
      particular Restricted Securities: (a) which Restricted Securities shall have
      been effectively registered under the Act, or (b) when, in the opinions of
      both
      counsel for the holder thereof and counsel for the Company, which opinion shall
      not be unreasonably withheld, such restrictions are no longer required in order
      to insure compliance with the Act or Section
      10
      hereof.
      Whenever such restrictions shall cease and terminate as to any Restricted
      Securities, the Holder thereof shall be entitled to receive from the Company,
      without expense (other than applicable transfer taxes, if any), new securities
      of like tenor not bearing the applicable legends required by Section
      10.1
      hereof.

    

    11.
       Ownership,
      Transfer and Substitution of Warrant.

    

    11.1
       Ownership
      of Warrant. The Company may treat the person in whose name this Warrant is
      registered to in the Warrant Register maintained pursuant to Section
      11.2(b)
      hereof
      as the owner and holder thereof for all purposes, notwithstanding any notice
      to
      the contrary, except that, if and when any Warrant is properly assigned by
      a
      notice in substantially the form attached to this Warrant as Exhibit
      C
      (or a
      reasonable facsimile thereof) duly executed by the Holder in blank, the Company
      shall treat the bearer thereof as the owner of such Warrant for all purposes,
      notwithstanding any notice to the contrary. Subject to Section
      10
      hereof,
      this Warrant, if properly assigned, may be exercised by a new holder without
      a
      new Warrant first having been issued.

    

    11.2
       Office;
      Transfer and Exchange of Warrant.

    

    (a)
      The
      Company will maintain an office (which may be an agency maintained at a bank)
      at
      11494 Sorrento Valley Road, San Diego, California 92121 (until the Company
      notifies the Holder of any change of location of the office) where notices,
      presentations and demands in respect of this Warrant may be made upon
      it.

    

    (b)
      The
      Company shall cause to be kept at its office maintained pursuant to Section
      11.2(a)
      hereof a
      Warrant Register for the registration and transfer of the Warrant. The names
      and
      addresses of holders of the Warrant, the transfers thereof and the names and
      addresses of transferees of the Warrant shall be registered in such Warrant
      Register. The Person in whose name any Warrant shall be so registered shall
      be
      deemed and treated as the owner and holder thereof for all purposes of this
      Warrant, and the Company shall not be affected by any notice or knowledge to
      the
      contrary.

    

    (c)
      Upon
      the surrender of this Warrant, properly endorsed, for registration of transfer
      or for exchange at the office of the Company maintained pursuant to Section
      11.2(a)
      hereof,
      the Company at its expense will (subject to compliance with Section
      10
      hereof,
      if applicable) execute and deliver to or upon the order of the Holder thereof
      a
      new Warrant of like tenor, in the name of such holder or as such holder (upon
      payment by such holder of any applicable transfer taxes) may direct, calling
      in
      the aggregate on the face thereof for the number of shares of Common Stock
      called for on the face of the Warrant so surrendered.

    
      
         

      

      
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    11.3
       Replacement
      of Warrant. Upon receipt of evidence reasonably satisfactory to the Company
      of
      the loss, theft, destruction or mutilation of the Warrant and, in the case
      of
      any such loss, theft or destruction of the Warrant, upon delivery of indemnity
      reasonably satisfactory to the Company in form and amount or, in the case of
      any
      mutilation, upon surrender of the Warrant for cancellation at the office of
      the
      Company maintained pursuant to Section
      11.2(a)
      hereof,
      the Company at its expense will execute and deliver, in lieu thereof, a new
      Warrant of like tenor and dated the date hereof.

    

    12.
       No
      Rights or Liabilities as Stockholder.
      Except
      as may otherwise be provided herein, no Holder shall be entitled to vote or
      receive dividends or be deemed the holder of any shares of Common Stock or
      any
      other securities of the Company which may at any time be issuable on the
      exercise hereof for any purpose, nor shall anything contained herein be
      construed to confer upon the Holder, as such, any of the rights of a stockholder
      of the Company or any right to vote for the election of directors or upon any
      matter submitted to stockholders at any meeting thereof, or to give or withhold
      consent to any corporate action (whether upon any recapitalization, issuance
      of
      stock, reclassification of stock, change of par value, consolidation, merger,
      conveyance, or otherwise) or to receive notice of meetings, or to receive
      dividends or subscription rights or otherwise until the Warrant shall have
      been
      exercised and the shares of Common Stock purchasable upon the exercise hereof
      shall have become deliverable, as provided herein. The Holder will not be
      entitled to share in the assets of the Company in the event of liquidation,
      dissolution or the winding up of the Company.

    

    13.
       Notices.
      Any
      notice or other communication in connection with this Warrant shall be deemed
      to
      be given if in writing (or in the form of a facsimile) addressed as hereinafter
      provided and actually delivered at such address: (a) if to any Holder, at the
      registered address of such holder as set forth in the Warrant Register kept
      at
      the office of the Company maintained pursuant to Section
      11.2(a)
      hereof,
      or (b)
      if to
      the Company, to the attention of its Chief Financial Officer at its office
      maintained pursuant to Section
      11.2(a)
      hereof;
provided,
      however,
      that
      the exercise of any Warrant shall be effective in the manner provided in
Section
      3
      hereof.

    

    14. Payment
      of Taxes.
      The
      Company will pay all documentary stamp taxes attributable to the issuance of
      shares of Common Stock underlying this Warrant upon exercise of this Warrant;
      provided,
      however,
      that
      the Company shall not be required to pay any tax which may be payable in respect
      of any transfer involved in the registration of any certificate for shares
      of
      Common Stock underlying this Warrant in a name other that of the Holder. The
      Holder is responsible for all other tax liability that may arise as a result
      of
      holding or transferring this Warrant or receiving shares of Common Stock
      underlying this Warrant upon exercise hereof.

    

    15. Warrant
      Agent.
      The
      Company shall serve as warrant agent under this Warrant. Upon thirty (30) days
      notice to the Holder, the Company may appoint a new warrant agent. Any
      corporation into which the Company or any new warrant agent may be merged or
      any
      corporation resulting from any consolidation to which the Company or any new
      warrant agent shall be a party or any corporation to which the Company or any
      new warrant agent transfers substantially all of its corporate trust or
      stockholders services business shall be successor warrant agent under this
      Warrant without any further act. Any such successor warrant agent shall promptly
      cause notice of its succession as warrant agent to be mailed (by first class
      mail, postage prepaid) to the Holder at the Holder’s last address as shown on
      the Warrant Register.

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    

    16. 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 the change, waiver, discharge or termination is sought. This Warrant shall
      be
      construed and enforced in accordance with and governed by the laws of the State
      of Delaware. The section headings in this Warrant are for purposes of
      convenience only and shall not constitute a part hereof.

    

    IN
      WITNESS WHEREOF, the Company has caused this Common Stock Purchase Warrant
      to be
      duly executed as of the date first above written.

    

    
      	
              PROTEIN
                POLYMER TECHNOLOGIES, INC.

            
	 	 	 
	
              By:

            	
                
                

            
	 	
              Name:

            	
              James
                B. McCarthy

            
	 	
              Title:

            	
              Interim
                President and Interim Chief Executive
                Officer

            

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    EXHIBIT
      A

    

    FORM
      OF
      EXERCISE NOTICE

    

    [To
      be
      executed only upon conversion of Warrant]

    

    To
      PROTEIN
      POLYMER TECHNOLOGIES,
      INC.:

    

    The
      undersigned registered holder of the within Warrant hereby irrevocably exercises
      the Warrant pursuant to Section
      3.1
      of the
      Warrant with respect to __________(1) shares of the Common Stock, at an exercise
      price per share of Common Stock of $____, which the holder would be entitled
      to
      receive upon the cash exercise hereof, and requests that the certificates for
      the shares be issued in the name of, and delivered to, whose address
      is:

    

    Dated:
      _______________ 

     

    
      	
               

            
	
              Print
                or Type Name

            
	 
	
               

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

            
	 
	
               

            
	
              (Street
                Address)

            
	 
	
               

            
	
              (City)               
                        (State)              
                (Zip Code)

            

    

     

    _______________________

    (1)
      Insert here the number of shares called for on the face of this Warrant (or,
      in
      the case of a partial exercise, the portion thereof as to which this Warrant
      is
      being exercised), in either case without making any adjustment of shares of
      Common Stock or any other stock or other securities or property or cash which,
      pursuant to the adjustment provisions of this Warrant, may be delivered upon
      exercise. In the case of a partial exercise, a new Warrant or Warrants will
      be
      issued and delivered, representing the unconverted portion of the Warrant,
      to
      the holder surrendering the Warrant.

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    EXHIBIT
      B

    

    FORM
      OF
      ASSIGNMENT

    

    [To
      be
      executed only upon transfer of Warrant]

    

    For
      value
      received, the undersigned registered holder of the within Warrant hereby sells,
      assigns and transfers unto _____________________ the right represented by the
      Warrant to purchase __________(1) shares of Common Stock of PROTEIN POLYMER
      TECHNOLOGIES, INC. to which the Warrant relates, and appoints
      _____________________ Attorney to make such transfer on the books of PROTEIN
      POLYMER TECHNOLOGIES, INC. maintained for the purpose, with full power of
      substitution in the premises.

    

    Dated:  

    
      	
               
                

            
	
              (Signature
                must conform in all respects 

            
	
              to
                name of holder as specified on the

            
	
              face
                of Warrant)

            
	 
	
               
                

            
	
              (Street
                Address)

            
	 
	
               
                

            
	
              (City)      
                       
                (State)               (Zip
                Code)

            

    

     

    Signed
      in
      the presence of:

    

    
      	
               
                

            
	
              (Signature
                of Transferee)

            
	 
	
               
                

            
	
              (Street
                Address)

            
	 
	
               
                

            
	
              (City)               (State)               (Zip
                Code)

            

    

    Signed
      in
      the presence of:

    

    _______________________

    (1)
      Insert here the number of shares called for on the face of this Warrant (or,
      in
      the case of a partial exercise, the portion thereof as to which this Warrant
      is
      being exercised), in either case without making any adjustment of shares of
      Common Stock or any other stock or other securities or property or cash which,
      pursuant to the adjustment provisions of this Warrant, may be delivered upon
      exercise. In the case of a partial exercise, a new Warrant or Warrants will
      be
      issued and delivered, representing the unexercised portion of the Warrant,
      to
      the holder surrendering the Warrant.

     

    
      
         

      

      
        12Exhibit
      4.1

     

    THE
      WARRANT REPRESENTED BY THIS CERTIFICATE AND THE SECURITIES ISSUABLE UPON
      EXERCISE THEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933
      OR
      THE SECURITIES LAWS OF ANY STATE. NEITHER THE WARRANT NOR SUCH SECURITIES MAY
      BE
      SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED WITHOUT SUCH REGISTRATION,
      EXCEPT UPON DELIVERY TO THE COMPANY OF SUCH EVIDENCE AS MAY BE SATISFACTORY
      TO
      COUNSEL FOR THE COMPANY TO THE EFFECT THAT ANY SUCH TRANSFER IS NOT IN VIOLATION
      OF THE SECURITIES ACT OF 1933 OR APPLICABLE STATE SECURITIES LAWS OR ANY RULE
      OR
      REGULATION PROMULGATED THEREUNDER.

     

    AVAX
      TECHNOLOGIES, INC.

     

    Warrant
      for the Purchase

    of
      Shares of Common Stock

     

            
      , 2008

     

    Holder: 

     

    Holder’s
      Address: 

     

    FOR
      VALUE RECEIVED,
      AVAX
      TECHNOLOGIES, INC., a Delaware corporation (the “Company”),
      hereby certifies that the above-named holder (the “Holder”),
      its
      designee or its permitted assigns is entitled to purchase from the Company,
      at
      any time or from time to time commencing on the date hereof and prior to 5:00
      P.M., New York City time, October 24, 2013, up
      to
      [____] fully paid and non-assessable shares of common stock (subject to
      adjustment), $.004 par value per share, of the Company for $0.10 per share
      (subject to adjustment) at an aggregate purchase price of $[_____] . This
      Warrant, all similar Warrants issued by the Company in October 2008 pursuant
      to
      the Convertible Note and Warrant Purchase Agreement dated as of October 24,
      2008
      (the “Agreement”), and all Warrants hereafter issued in exchange or substitution
      for this Warrant or similar Warrants are referred to as the “Warrants;”
common
      stock, $.004 par value per share, of the Company, is referred to as the
“Common
      Stock;”
the
      shares of the Common Stock purchasable hereunder are referred to as the
“Warrant
      Shares;”
the
      aggregate purchase price payable for the Warrant Shares purchasable hereunder
      is
      referred to as the “Aggregate
      Warrant Price;”
the
      price payable (initially $0.10 per share, subject to adjustment) for each of
      the
      Warrant Shares is referred to as the “Per
      Share Warrant Price;”
and
      the
      holder of this Warrant is referred to as the “Holder.”
The
      Aggregate Warrant Price is not subject to adjustment.

     

    1.
      Exercise
      of Warrant.
      (a)
      This Warrant may be exercised in whole at any time, or in part from time to
      time, commencing on the date hereof and prior to 5:00 P.M., New York City time,
      on October 24, 2013, by the Holder by the surrender of this Warrant (with the
      subscription form at the end hereof duly executed) at the address set forth
      in
      Section 9(a), together with proper payment of the Aggregate Warrant Price,
      or
      the proportionate part thereof if this Warrant is exercised in part, with
      payment for the Warrant Shares made by certified or official bank check payable
      to the order of the Company.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (b)
      If
      this Warrant is exercised in part, this Warrant must be exercised for a number
      of whole shares of the Common Stock, and the Holder is entitled to receive
      a new
      Warrant covering the Warrant Shares that have not been exercised and setting
      forth the proportionate part of the Aggregate Warrant Price applicable to such
      Warrant Shares.

     

    (c)
      Upon
      surrender of this Warrant, the Company will (i) issue a certificate or
      certificates in the name of the Holder for the number of whole shares of the
      Common Stock to which the Holder is entitled and, if this Warrant is exercised
      in whole, in lieu of any fractional share of the Common Stock to which the
      Holder may be entitled, pay to the Holder cash in an amount equal to the fair
      value of the fractional share (determined in such reasonable manner as the
      Board
      of Directors of the Company determines), and (ii) to the extent applicable,
      deliver the other securities and properties receivable upon the exercise of
      this
      Warrant, or the proportionate part thereof if this Warrant is exercised in
      part,
      pursuant to the provisions of this Warrant.

     

    2.
      Reservation
      of Warrant Shares; Listing.
      The
      Company agrees that, prior to the expiration of this Warrant, the Company shall
      at all times (i) have authorized and in reserve, and shall keep available,
      solely for issuance and delivery upon the exercise of this Warrant, the shares
      of the Common Stock and other securities and properties as from time to time
      shall be receivable upon the exercise of this Warrant, free and clear of all
      restrictions on sale or transfer, other than under United States federal or
      state securities laws, and free and clear of all preemptive rights and rights
      of
      first refusal and (ii) use its best efforts to keep the Warrant Shares
      authorized for listing on the Over the Counter Bulletin Board (“OTC”), or any
      national securities exchange on which the Company’s Common Stock is
      traded.

     

    3.
      Protection
      Against Dilution.
      (a) If
      the Company hereafter (i) pays a dividend or makes a distribution on its Common
      Stock in shares of Common Stock, (ii) subdivides its outstanding shares of
      Common Stock into a greater number of shares, (iii) combines its outstanding
      shares of Common Stock into a smaller number of shares or (iv) issues by
      reclassification of its Common Stock any shares of capital stock of the Company,
      then (x) the Per Share Warrant Price (but not the Aggregate Warrant Price)
      and
      (y) the number of Warrant Shares issuable hereunder (collectively the
“Exercise
      Terms”)
      shall
      be adjusted so that the Holder upon the exercise hereof will be entitled to
      receive the number of shares of Common Stock or other capital stock of the
      Company that the Holder would have owned immediately following such action
      had
      the Warrant been exercised immediately prior thereto. An adjustment made
      pursuant to this Section 3(a) will become effective immediately after the record
      date in the case of a dividend or distribution and will become effective
      immediately after the effective date in the case of a subdivision, combination
      or reclassification. If the Board of Directors of the Company declares any
      dividend or distribution or resolve to take any action referred to in this
      Section 3(a),
      it
      shall provide written notice thereof to the Holders not less than 10 days prior
      to the record date fixed for determining the stockholders entitled to
      participate therein.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (b)
      In
      the case of any capital reorganization or reclassification, or any consolidation
      or merger to which the Company is a party, other than a merger or consolidation
      in which the Company is the continuing corporation, or in the case of any sale
      or conveyance to another entity of the property of the Company as an entirety
      or
      substantially as an entirety, or in the case of any statutory exchange of
      securities with another corporation (including any exchange effected in
      connection with a merger of a third corporation into the Company), the Holder
      will have the right thereafter to receive on the exercise of the Warrant the
      kind and amount of securities, cash or other property that the Holder would
      have
      owned or have been entitled to receive immediately after such reorganization,
      reclassification, consolidation, merger, statutory exchange, sale or conveyance
      had the Warrant been exercised immediately prior to the effective date of the
      reorganization, reclassification, consolidation, merger, statutory exchange,
      sale or conveyance and in any such case, if necessary, appropriate adjustment
      shall be made in the application of the provisions set forth in this Section
      3
      with respect to the rights and interests thereafter of the Holder to the end
      that the provisions set forth in this Section 3 shall thereafter correspondingly
      be made applicable, as nearly as may reasonably be, in relation to any shares
      of
      stock or other securities thereafter deliverable on the exercise of the Warrant.
      Notice of any such reorganization, reclassification, consolidation, merger,
      exchange, sale or conveyance shall be mailed to the Holders not less than 30
      days prior to such event. The above provisions of this Section 3(b) shall
      similarly apply to successive reorganizations, reclassifications,
      consolidations, mergers, statutory exchanges, sales or conveyances. The Company
      shall require the issuer of any shares of stock or other securities or property
      thereafter deliverable on the exercise of the Warrants to be responsible for
      all
      of the agreements and obligations of the Company hereunder.

     

    (c)
      If
      the Company issues rights, options, warrants or convertible securities to all
      holders of its Common Stock, without any charge to or consideration from such
      holders, entitling them to subscribe for or purchase Common Stock at a price
      per
      share that is lower at the record date mentioned below than the closing bid
      price (as defined below) for the trading day immediately prior to such record
      date (the “Current
      Market Price”),
      then
      the Per Share Warrant Price shall be determined by multiplying the Per Share
      Warrant Price then in effect by a fraction, of which the numerator is the number
      of shares of Common Stock outstanding immediately prior to the issuance of
      such
      rights, options, warrants or convertible securities plus the number of
      additional shares of Common Stock offered for subscription or purchase, and
      of
      which the denominator is the number of shares of Common Stock outstanding
      immediately prior to the issuance of such rights, options, warrants or
      convertible securities plus the number of shares which the aggregate offering
      price of the total number of shares offered would purchase at such Current
      Market Price. Such adjustment shall be made whenever such rights, options,
      warrants or convertible securities are issued, and shall become effective
      immediately and retroactive to the record date for the determination of
      stockholders entitled to receive such rights, options, warrants or convertible
      securities.

     

    The
      “closing bid price” for each trading day shall be the reported closing bid price
      on the OTC or, if the Common Stock is not quoted on OTC, on the principal
      national securities exchange on which common stock is listed or admitted to
      trading (based on the aggregate dollar value of all securities listed or
      admitted to trading) or, if not listed or admitted to trading on any national
      securities exchange or quoted on OTC, the closing bid price in the
      over-the-counter market as furnished by any NASD member firm selected from
      time
      to time by the Company for that purpose, or, if such prices are not available,
      the fair market value set by, or in a manner established by, the Board of
      Directors of the Company in good faith. “Trading day” shall mean a day on which
      the national securities exchange or OTC used to determine the closing bid price
      is open for the transaction of business or the reporting of trades or, if the
      closing bid price is not so determined, a day on which OTC is open for the
      transaction of business.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (d)
      If
      the Company distributes (other than a distribution in liquidation of the
      Company) to all holders of its Common Stock, without any charge to or
      consideration from such holder, evidences of its indebtedness or assets
      (excluding cash dividends or distributions out of earnings), then in each case
      the Company shall simultaneously distribute such evidences of its indebtedness
      or assets pro rata to the Holders of Warrants on the record date or date of
      effectiveness, as the case may be, fixed for determining the holders of Common
      Stock entitled to participate in such distribution in an amount equal to the
      amount that such Holders would have been entitled to receive had their Warrants
      been exercised for shares of Common Stock immediately prior to the time for
      determination of the holders of Common Stock entitled to participate in that
      distribution.

     

    (e)
      If
      the Company issues additional shares of Common Stock or rights, warrants,
      options or other securities or debt convertible, exercisable or exchangeable
      for
      shares of Common Stock or otherwise entitling any person to acquire shares
      of
      Common Stock, other than as described in Section 3(c) above (collectively,
      “Common
      Stock Equivalents”)
      on or
      before the date that is three years from the date hereof, at a price (exclusive
      of commissions payable by the Company in connection therewith) per share of
      Common Stock less than the Per Share Warrant Price (as adjusted hereunder to
      such date), then the Per Share Warrant Price shall be reduced to such price.
      For
      purposes of this paragraph, in connection with any issuance of any Common Stock
      Equivalents, (A) the maximum number of shares of Common Stock potentially
      issuable at any time upon conversion, exercise or exchange of such Common Stock
      Equivalents (the “Deemed
      Number”)
      shall
      be deemed to be outstanding upon issuance of such Common Stock Equivalents,
      (B)
      the Effective Price applicable to such Common Stock shall equal the minimum
      dollar value of consideration payable to the Company to purchase such Common
      Stock Equivalents and to convert, exercise or exchange them into Common Stock
      (net of any discounts, fees, commissions and other expenses), divided by the
      Deemed Number, and (C) no further adjustment shall be made to the Per Share
      Warrant Price upon the actual issuance of Common Stock upon conversion, exercise
      or exchange of such Common Stock Equivalents.

     

    If
      the
      Company issues Common Stock Equivalents with an Effective Price or a number
      of
      underlying shares that floats or resets or otherwise varies or is subject to
      adjustment based (directly or indirectly) on market prices of the Common Stock
      (a “Floating
      Price Security”),
      then
      for purposes of applying the preceding paragraph in connection with any
      subsequent conversion, the Effective Price will be determined separately on
      each
      exercise date hereof and will be deemed to equal the lowest Effective Price
      at
      which any holder of such Floating Price Security is entitled to acquire Common
      Stock on such exercise date (regardless of whether any such holder acquires
      any
      shares on such date).

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (f)
      No
      adjustments in the Exercise Terms shall be required:

     

    (i)
      Unless such adjustment would require an increase or decrease of at least $0.01
      per share of Common Stock; provided,
      however,
      that
      any adjustments that by reason of this Section 3(f)(i) are not required to
      be
      made shall be carried forward and cumulated with amounts in any subsequent
      adjustment, and provided,
      further,
      however,
      that
      adjustments shall be required and made in accordance with the provisions of
      this
      Section 3 (other than this Section 3(f)(i)) not later than such time as may
      be
      required in order to preserve the tax-free nature of a distribution to the
      Holder of this Warrant or Common Stock issuable upon the exercise hereof. All
      calculations that shall be required pursuant to this Section 3 shall be made
      to
      the nearest cent or to the nearest one-hundredth of a share, as the case may
      be.
      Anything in this Section 3 to the contrary notwithstanding, the Company shall
      be
      entitled to make such adjustments to the Exercise Terms, in addition to those
      required by this Section 3 as it in its discretion shall deem to be advisable
      in
      order that any stock dividend, subdivision of shares or distribution of rights
      to purchase stock or securities convertible or exchangeable for stock hereafter
      made by the Company to its stockholders is not taxable.

     

    (ii)
      If
      the Company issues shares of Common Stock pursuant to (a) the exercise of any
      warrants (or warrants or options to acquire any shares of convertible preferred
      stock) of the Company outstanding on the date hereof, (b) the exercise of the
      Warrants, or a portion thereof, (c) the conversion of shares of any series
      of
      convertible preferred stock of the Company outstanding on the date hereof or
      (d)
      the exercise of any stock options or warrants currently outstanding or issued
      after the date hereof pursuant to any Company benefit plan or compensation
      arrangement for employees of the Company.

     

    (g)
      Whenever the conversion rate is adjusted as provided in any provision of this
      Section 3:

     

    (i)
      the
      Company shall compute the adjusted Exercise Terms in accordance with this
      Section 3 and shall prepare a certificate signed by the principal financial
      officer of the Company setting forth the adjusted conversion rate and showing
      in
      reasonable detail the facts upon which such adjustment is based, and such
      certificate shall forthwith be filed with the registrar of the Warrant;
      and

     

    (ii)
      the
      Company shall mail as soon as practicable after an adjustment is required a
      notice stating that the Exercise Terms have been adjusted and setting forth
      the
      adjusted Exercise Terms to all record Holders of this Warrant at its address
      as
      it appears in the records of the Company.

     

    4.
      Fully
      Paid Stock; Taxes.
      The
      shares of the Common Stock represented by each certificate for Warrant Shares
      delivered on the exercise of this Warrant shall at the time of such delivery,
      be
      duly authorized, validly issued and outstanding, fully paid and nonassessable,
      and not subject to preemptive rights or rights of first refusal, and the Company
      will take all such actions as may be necessary to assure that the par value,
      if
      any, per share of the Common Stock is at all times equal to or less than the
      then Per Share Warrant Price. The Company shall pay all documentary, stamp
      or
      similar taxes and other similar governmental charges that may be imposed with
      respect to the issuance or delivery of any shares of Common Stock upon exercise
      of the Warrant (other than income taxes); provided, however, that if the shares
      of Common Stock are to be delivered in a name other than the name of the Holder,
      no such delivery shall be made unless the person requesting the same has paid
      to
      the Company the amount of transfer taxes or charges incident thereto, if
      any.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    5.
      Registration
      Under Securities Act of 1933.
      The
      Holder shall have the right to participate in the registration rights described
      in the Agreement. By acceptance of this Warrant, the Holder agrees to comply
      with the registration right provisions of the Agreement to the same extent
      as if
      it were a party thereto.

     

    6.
      Investment
      Intent; Limited Transferability.
      (a) The
      Holder represents, by accepting this Warrant, that it understands that this
      Warrant and any securities obtainable upon exercise of this Warrant have not
      been registered for sale under United States federal or state securities laws
      and are being offered and sold to the Holder pursuant to one or more exemptions
      from the registration requirements of such securities laws. In the absence
      of an
      effective registration of such securities or an exemption therefrom, any
      certificates for such securities shall bear the legend set forth on the first
      page hereof. The Holder understands that it must bear the economic risk of
      its
      investment in this Warrant and any securities obtainable upon exercise of this
      Warrant for an indefinite period of time, as this Warrant and such securities
      have not been registered under United States federal or state securities laws
      and therefore cannot be sold unless subsequently registered under such laws,
      unless an exemption from such registration is available.

     

    (b)
      The
      Holder, by its acceptance of this Warrant, represents to the Company that it
      is
      acquiring this Warrant and will acquire any securities obtainable upon exercise
      of this Warrant for its own account, or for the account of its customers, each
      of whom is an “accredited investor,” within the meaning of Regulation D of the
      Securities Act of 1933, as amended (the “Securities Act”) for investment and not
      with a view to, or for sale in connection with, any distribution thereof in
      violation of the Securities Act. The Holder agrees that this Warrant and any
      such securities will not be sold or otherwise transferred unless (i) a
      registration statement with respect to such transfer is effective under the
      Securities Act and any applicable state securities laws or (ii) such sale or
      transfer is made pursuant to one or more exemptions from the Securities
      Act.

     

    (c)
      This
      Warrant may not be sold, transferred, assigned or hypothecated by the Holder
      except in compliance with the provisions of the Securities Act and the
      applicable state securities “blue sky” laws, and is transferable only upon the
      books of the Company, which it shall cause to be maintained for such purpose.
      The Company may treat the registered Holder of this Warrant as he, she or it
      appears on the Company’s books at any time as the Holder for all purposes. The
      Company shall permit any Holder of a Warrant or his duly authorized attorney,
      upon written request during ordinary business hours, to inspect and copy or
      make
      extracts from its books showing the registered holders of Warrants. All Warrants
      issued upon the transfer or assignment of this Warrant will be dated the same
      date as this Warrant, and all rights of the holder thereof shall be identical
      to
      those of the Holder.

     

    7.
      Loss,
      etc., of Warrant.
      Upon
      receipt of evidence satisfactory to the Company of the loss, theft, destruction
      or mutilation of this Warrant, and of indemnity reasonably satisfactory to
      the
      Company, if lost, stolen or destroyed, and upon surrender and cancellation
      of
      this Warrant, if mutilated, the Company shall execute and deliver to the Holder
      a new Warrant of like date, tenor and denomination.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    8.
      Warrant
      Holder Not Stockholder.
      This
      Warrant does not confer upon the Holder any right to vote on or consent to
      or
      receive notice as a stockholder of the Company, as such, in respect of any
      matters whatsoever, nor any other rights or liabilities as a stockholder, prior
      to the exercise hereof; this Warrant does, however, require certain notices
      to
      Holders as set forth herein.

     

    9.
      Communication.
      Any
      notice or other communication shall be effective and shall be deemed to have
      been given if, the same is in writing and is mailed by first-class mail, postage
      prepaid, addressed to:

     

    (a)
      the
      Company at AVAX Technologies, Inc., 2000 Hamilton Street, Suite 204,
      Philadelphia, PA 10130, Attn: Francois Martelet, or such other address as the
      Company has designated in writing to the Holder, or

     

    (b)
      the
      Holder at the address set forth on the cover page of this Warrant, or such
      other
      address as the Holder has designated in writing to the Company.

     

    10.
      Headings.
      The
      headings of this Warrant have been inserted as a matter of convenience and
      shall
      not affect the construction hereof.

     

    11.
      Applicable
      Law.
      This
      Warrant shall be governed by and construed in accordance with the laws of the
      State of Delaware without giving effect to the principles of conflicts of law
      thereof.

     

    12.
      Amendment,
      Waiver, etc.
      Except
      as expressly provided herein, neither this Warrant nor any term hereof may
      be
      amended, waived, discharged or terminated other than by a written instrument
      signed by the party against whom enforcement of any such amendment, waiver,
      discharge or termination is sought; provided, however, that any provisions
      hereof may be amended, waived, discharged or terminated upon the written consent
      of the Company and the Holder.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    IN
      WITNESS WHEREOF,
      the
      Company has caused this Warrant to be signed by its duly authorized
      representative as of the date first above written.

     

    
      	 	
              AVAX
                TECHNOLOGIES, INC.

            
	 	 
	 	
              By:

            	      

	 	 	
              Name:

            
	 	 	
              Title:

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    EXERCISE
      OF WARRANT

     

    The
      undersigned, , pursuant to the provisions of the foregoing Warrant, hereby
      elects to purchase shares of the Common Stock, par value $.004 per share, of
      AVAX Technologies, Inc. covered by said Warrant, and makes payment therefor
      in
      full at the Per Share Warrant Price provided in the Warrant.

     

    
      	
              Dated:

            	 	 	 	
              Signature:

            	 	 
	 	 	 	 	 
	 	 	 	 	
              Address:

            	 	 

    

     

    ASSIGNMENT

     

    FOR
      VALUE RECEIVED,
      hereby
      sells, assigns and transfers unto the foregoing Warrant and all rights evidenced
      thereby, and does irrevocably constitute and appoint , attorney, to transfer
      said Warrant on the books of AVAX Technologies, Inc.

     

    
      	
              Dated:

            	 	 	 	
              Signature:

            	 	 
	 	 	 	 	 
	 	 	 	 	
              Address:

            	 	 

    

     

    PARTIAL
      ASSIGNMENT

     

    FOR
      VALUE RECEIVED,
      hereby
      assigns and transfers unto the right to purchase shares of Common Stock, par
      value $.004 per share, of AVAX Technologies, Inc. covered by the foregoing
      Warrant, and a proportionate part of said Warrant and the rights evidenced
      thereby, and does irrevocably constitute and appoint , attorney, to transfer
      such part of said Warrant on the books of the Company.

     

    
      	
              Dated:

            	 	 	 	
              Signature:

            	 	 
	 	 	 	 	 
	 	 	 	 	
              Address:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00149-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00149-of-00352.parquet"}]]