Document:

Form of Entrade Private Placement Note

 Exhibit 10.9 
 FORM OF ENTRADE PRIVATE PLACEMENT NOTE 
 ENTRADE NOTE 
 $[Amount of
Note]                                        
                                         
                                         
                                       ,
             
 The undersigned (“Maker”), ENTRADE
INC., a Pennsylvania corporation for value received, and intending to be legally bound hereby, promises to pay to the order of [Payee], (“Payee”), at [Payee’s Address], or at such other place or places as
Payee may designate in writing, the principal sum of [Amount of Note] Dollars and __/100 ($                    ), plus interest from
the date hereof on the unpaid principal amount from time to time outstanding hereunder, at ten percent (10%) per annum, with all principal and interest owed hereunder payable in full on January __, _____ (the “Initial Maturity
Date”), unless extend by Maker for an additional one (1) year term, in which case all principal and interest owed hereunder shall be payable in full on January __, _____ (the “Extended Maturity Date”). 
 Interest shall be payable in arrears commencing on [First Quarterly Interest payment Date], and continuing on the
                     (    ) day of [Second Quarterly Interest Payment Date] and the
                     (    ) day of [Third Quarterly Interest Payment Date], with a final payment of all
interest and principal due on the Initial Maturity Date, unless extended by Entrade as set forth below, in which case only interest shall be due on the Initial Maturity Date, and interest payments shall continue on the
                     (    ) day of [Fifth Quarterly Interest Payment Date] and the
                     (    ) day of [Sixth Quarterly Interest Payment Date] and the [Seventh Quarterly
Interest Payment Date], with a final payment of all interest and principal due on the Extended Maturity Date. Interest shall be calculated based upon a year consisting of 365 days and charged for the actual number of days elapsed. 
 Entrade, in its sole and absolute discretion, may, by no less than thirty (30) days written notice to the Payee, elect to extend the Initial
Maturity Date to the Extended Maturity date. Such written notice shall be delivered by US Mail, overnight courier, or other reliable means to the address at which payments are then being made to Payee hereunder, and shall be in such form as Maker
reasonably determines will serve to notify Payee of such extension. 
 This Note may be prepaid by Maker at any time. In the event that Maker
enters into a private placement or a public offering of its securities which yield to Maker gross proceeds of not less than Twenty Million Dollars and No/ 100 ($20,000,000), then notwithstanding anything to the contrary contained herein, the Payee
shall have the right to demand prepayment of this Note, which amount shall be the outstanding principal balance of the Note, plus all interest accrued but unpaid up to the date of prepayment. 
 This Note is one of a series of Secured Promissory Notes under the terms of which each Payee shall receive a warrant which will allow the Payee to
purchase common stock of the Maker equal to the face amount of the Note divided by ten (10) (the “Warrant”), and that certain Pledge Agreement dated even date herewith by and between Maker and [Name of Collateral Agent]
(“Pledgee”) (the 

 
“Pledge Agreement”), under the terms of which Maker has pledged, as pledgor, to Pledgee, as pledgee, for the benefit of each Payee one
hundred percent (100%) of the issued and outstanding stock of Asset Liquidation Group, Inc., a Nevada corporation and Public Liquidation Systems, Inc., a Nevada corporation each doing business as Nationwide Auction Systems. 
 It is expressly agreed by Maker that time is of the essence hereof, and it shall be an “Event of Default” hereunder if: 
 (i) Maker shall fail to pay any amount of principal or interest due hereunder and such failure shall continue for seven (7) days
after Payee notifies Maker thereof in writing; or 
 (ii) Maker is or becomes insolvent or generally fails to pay, or admits
in writing its inability to pay, debts as they become due, or Maker applies for, consents to or acquiesces in the appointment of a trustee, receiver or other custodian for Maker or any of its property, or makes a general assignment for the benefit
of creditors, or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for Maker or for a substantial part of Maker’s property and is not discharged within ninety (90) days, or
any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law is commenced in respect of Maker, and if such case or proceeding is not commenced in respect of Maker, it is consented to or
acquiesced in by Maker or remains for ninety (90) days undismissed, or Maker takes any action to authorize, or in the furtherance of, any of the foregoing; or 
 (iii) There shall be an Event of Default pursuant to any other Note issued in conjunction with this Note, or any other document executed
in conjunction therewith including but not limited to the Pledge Agreement. 
 Upon the occurrence and during the continuation of an Event of
Default hereunder, the interest rate hereunder shall be increased to fifteen percent (15%) per annum and at the option of Payee, the entire unpaid principal balance hereunder, together with all accrued interest thereon, shall become immediately
due and payable. In addition, Payee shall be entitled to exercise all rights of Payee hereunder and under applicable law, including the right to collect from Maker all sums due under this Note. 
 In addition to the other sums payable hereunder, Maker agrees to pay to the holder, within fifteen (15) days of demand, all reasonable
attorneys’ fees and costs that may be incurred by the holder of this Note in enforcing any of the terms hereof after an Event of Default. 
 Except as otherwise provided in this Note, Maker hereby waives notice of non-payment, notice of dishonor, and protest of any dishonor, and agrees that its liabilities shall be unconditional without regard to the liability of any other party
and shall not in any manner be affected by any indulgence, extension of time, renewal, waiver or modification granted or consented to by the holder hereof. Further, Maker consents to any and all extensions of time, renewals, waivers, or
modifications that may be granted by the holder hereof with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors or sureties may become parties hereto without notice to Maker and without
affecting its liability hereunder. 
  

 2 

 The holder hereof shall not by any act of omission or commission be deemed to waive any of its right or
remedies hereunder unless such waiver is in writing and signed by the holder hereof, and then only to the extent specifically set forth therein. The waiver of any event shall not be construed as a waiver of any other right or remedy, nor shall any
single or partial exercise of any right or remedy preclude any other or further exercise thereof or of any other right or remedy. 
 Whenever
possible, each provision of this Note shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Note is deemed to be invalid or unenforceable under such law, such provision shall be
ineffective only to the extent of such invalidity or unenforceability without affecting the validity or enforceability of any other provision of this Note. 
 Maker (and the undersigned representative of Maker, if any) represents that Maker has full power and authority and legal right to execute and deliver this Note and this Note shall be binding on Maker and its
respective successors and assigns. 
 This Note shall be governed by and construed according to the internal laws of the State of Illinois
without regard to principals of conflicts of law. 
 IN WITNESS WHEREOF, Maker has duly executed this Secured Promissory Note as of
the date first above written. 
  

			
	ENTRADE INC.
		
	By: 	 	 
		 	 President

  

 3 

 FORM OF ENTRADE BONUS NOTE 
 ARTRA PARTICIPATION NOTE 
 $[Amount of Note]
                                         
                                         
                                         
         January             ,              
 The undersigned (“Maker”), ENTRADE INC., a Pennsylvania corporation for value received, and intending to be legally bound hereby,
promises to pay to the order of [Payee], (“Payee”), at [Payee’s Address], or at such other place or places as Payee may designate in writing, the principal sum of [Amount of Note] Dollars and __/100
($                    ), without interest, with all principal owed hereunder payable in full on January __, 200_ (the “Maturity
Date”). 
 This Note may be prepaid by Maker at any time. In the event that Maker enters into a private placement or a public
offering of its securities which yield to Maker gross proceeds of not less than Twenty Million Dollars and No/ 100 ($20,000,000), then notwithstanding anything to the contrary contained herein, the Payee shall have the right to demand prepayment of
this Note, which amount shall be the outstanding principal balance of the Note, plus all interest accrued but unpaid up to the date of prepayment. 
 This Note is one of a series of Secured Promissory Notes under the terms of which each Payee shall receive a warrant which will allow the Payee to purchase common stock of the Maker equal to the face amount of the Note divided by ten
(10) (the “Warrant”), and that certain Pledge Agreement dated even date herewith by and between Maker and [Name of Collateral Agent] (“Pledgee”) (the “Pledge Agreement”), under the terms
of which Maker has pledged, as pledgor, to Pledgee, as pledgee, for the benefit of each Payee one hundred percent (100%) of the issued and outstanding stock of Asset Liquidation Group, Inc., a Nevada corporation and Public Liquidation Systems,
Inc., a Nevada corporation each doing business as Nationwide Auction Systems. 
 It is expressly agreed by Maker that time is of the essence
hereof, and it shall be an “Event of Default” hereunder if: 
 (i) Maker shall fail to pay any amount of
principal due hereunder and such failure shall continue for seven (7) days after Payee notifies Maker thereof in writing; or 
 (ii) Maker is or becomes insolvent or generally fails to pay, or admits in writing its inability to pay, debts as they become due, or Maker applies for, consents to or acquiesces in the appointment of a trustee, receiver or other custodian
for Maker or any of its property, or makes a general assignment for the benefit of creditors, or, in the absence of such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for Maker or for a substantial part of
Maker’s property and is not discharged within ninety (90) days, or any bankruptcy, reorganization, debt arrangement, or other case or proceeding under any bankruptcy or insolvency law is commenced in respect of Maker, and if such case or
proceeding is not commenced in respect of Maker, it is consented to or acquiesced in by Maker or remains for ninety (90) days undismissed, or Maker takes any action to authorize, or in the furtherance of, any of the foregoing; or 
  

 4 

 (iii) There shall be an Event of Default pursuant to any other Note issued in conjunction
with this Note, or any other document executed in conjunction therewith including but not limited to the Pledge Agreement. 
 Upon the
occurrence and during the continuation of an Event of Default hereunder, Payee shall be entitled to exercise all rights of Payee hereunder and under applicable law, including the right to collect from Maker all sums due under this Note. 

In addition to the other sums payable hereunder, Maker agrees to pay to the holder, within fifteen (15) days of demand, all reasonable
attorneys’ fees and costs that may be incurred by the holder of this Note in enforcing any of the terms hereof after an Event of Default. 
 Except as otherwise provided in this Note, Maker hereby waives notice of non-payment, notice of dishonor, and protest of any dishonor, and agrees that its liabilities shall be unconditional without regard to the liability of any other party
and shall not in any manner be affected by any indulgence, extension of time, renewal, waiver or modification granted or consented to by the holder hereof. Further, Maker consents to any and all extensions of time, renewals, waivers, or
modifications that may be granted by the holder hereof with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors or sureties may become parties hereto without notice to Maker and without
affecting its liability hereunder. 
 The holder hereof shall not by any act of omission or commission be deemed to waive any of its right or
remedies hereunder unless such waiver is in writing and signed by the holder hereof, and then only to the extent specifically set forth therein. The waiver of any event shall not be construed as a waiver of any other right or remedy, nor shall any
single or partial exercise of any right or remedy preclude any other or further exercise thereof or of any other right or remedy. 
 Whenever
possible, each provision of this Note shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Note is deemed to be invalid or unenforceable under such law, such provision shall be
ineffective only to the extent of such invalidity or unenforceability without affecting the validity or enforceability of any other provision of this Note. 
 Maker (and the undersigned representative of Maker, if any) represents that Maker has full power and authority and legal right to execute and deliver this Note and this Note shall be binding on Maker and its
respective successors and assigns. 
 This Note shall be governed by and construed according to the internal laws of the State of Illinois
without regard to principals of conflicts of law. 
  

 5 

 IN WITNESS WHEREOF, Maker has duly executed this Secured Promissory Note as of the date first
above written. 
  

			
	ENTRADE INC.
		
	By: 	 	 
		 	 President

  

 6Entrade Warrant

 Exhibit 10.10 
 EXHIBIT B 
 ENTRADE WARRANT 
 The securities represented by this certificate have not been registered under the Securities Act of 1933, as amended, or registered or qualified under any state securities laws. The securities may not be sold,
transferred, pledged or hypothecated unless such sale, transfer, pledge or hypothecation is in accordance with such Act and applicable state securities laws. 
 Warrant No.                     -04 
 No. of Shares of Common Stock: [Number of Shares] 
 WARRANT 
 to Purchase Common Stock of 
 Entrade Inc. 
 a Pennsylvania corporation 
 THIS WARRANT IS TO CERTIFY THAT [Name of Purchaser] (“Purchaser”), is entitled to purchase from Entrade Inc., a Pennsylvania
corporation (the “Company”), [Number of Shares] (                    ) shares of Common Stock at an exercise price of
$.10 per share of Common Stock, all on the terms and conditions hereinafter provided. 
 Section 1. Certain Definitions. As used
in this Warrant, unless the context otherwise requires: 
 “Charter” shall mean the Articles of Incorporation of the
Company, as in effect from time to time. 
 “Common Stock” shall mean the Company’s authorized Common Stock, no par
value. 
 “Exercise Price” shall mean the exercise price per share of Common Stock set forth above, as adjusted from time to
time pursuant to Section 3 hereof. 
 “Fair Market Value” shall be determined as follows: 
 (1) If traded on a securities exchange or through the Nasdaq National Market, the value shall be deemed to be the closing price of the securities on such
exchange or system on the last trading date prior to the date the Warrant is exercised; 

 (2) If actively traded over-the-counter, the value shall be deemed to be the average of the closing bid
or sale prices (whichever is applicable) on the last trading date prior to the date the Warrant is exercised; and 
 (3) If there is no
active public market, the value shall be the fair market value thereof, as determined in good faith by the Company’s Board of Directors. 
 “Securities Act” shall mean the Securities Act of 1933, as amended. 
 “Warrant” shall mean this
Warrant and all additional or new warrants issued upon division or combination of, or in substitution for, this Warrant. All such additional or new warrants shall at all times be identical as to terms and conditions and date, except as to the number
of shares of Common Stock for which they may be exercised. 
 “Warrantholder” shall mean the Purchaser, as the initial
holder of this Warrant, and its nominees, successors or assigns, including any subsequent holder of this Warrant to whom it has been legally transferred. 
 “Warrant Stock” shall mean the shares of Common Stock purchasable by the holder of this Warrant upon the exercise of such Warrant. 
 Section 2. Exercise of Warrant. 
 (a) After January     , 2004 but prior to January     , 2009 (“the Expiration Date”), the Purchaser may at any time and from time to time exercise this Warrant, in whole or in
part. 
 (b)(i) The Warrantholder shall exercise this Warrant by means of delivering to the Company at its office identified in
Section 13 hereof (i) a written notice of exercise, including the number of shares of Warrant Stock to be delivered pursuant to such exercise, (ii) this Warrant and (iii) payment equal to the Exercise Price in accordance with
Section 2(b)(ii) hereof. In the event that any exercise shall not be for all shares of Warrant Stock purchasable hereunder, a new Warrant registered in the name of the Warrantholder, of like tenor to this Warrant and for the remaining shares of
Warrant Stock purchasable hereunder, shall be delivered to the Warrantholder within ten (10) calendar days of any such exercise. Such notice of exercise shall be in the Subscription Form set out at the end of this Warrant. 
 (ii) The Warrantholder may elect to pay the Exercise Price to the Company either (1) by cash, certified check or wire transfer, (2) by
converting the Warrant into Common Stock (“Warrant Conversion”) or (3) any combination of the foregoing, and specifying such election(s) in the Subscription Form. If the Warrantholder elects to pay the Exercise Price through Warrant
Conversion, the Company shall deliver to the Warrantholder (without payment by the Warrantholder of any cash or other consideration) that number of shares of Common Stock equal to the difference of (I) the total number of shares of Warrant
Stock into which this Warrant is exercisable minus (II) that number of Shares of Warrant Stock having an aggregate “Spread” (as defined herein) equal to the aggregate Exercise Price. For purposes of this Section 2, “Spread”
per share of Warrant Stock shall be the difference, as of the date of exercise, between the Exercise Price and the Fair Market Value of the Warrant Stock. 
  

 2 

 (c) Upon exercise of this Warrant and delivery of the Subscription Form with proper payment relating
thereto, the Company shall cause to be executed and delivered to the Warrantholder a certificate or certificates representing the aggregate number of fully-paid and nonassessable shares of Common Stock issuable upon such exercise. 
 (d) The stock certificate or certificates for Warrant Stock to be delivered in accordance with this Section 2 shall be in such denominations as may
be specified in said notice of exercise and shall be registered in the name of the Warrantholder or such other name or names as shall be designated in said notice. Such certificate or certificates shall be deemed to have been issued and the
Warrantholder or any other person so designated to be named therein shall be deemed to have become the holder of record of such shares, including to the extent permitted by law the right to vote such shares or to consent or to receive notice as
stockholders, as of the time said notice is delivered to the Company as aforesaid. 
 (e) The Company shall pay all expenses payable in
connection with the preparation, issue and delivery of stock certificates under this Section 2. 
 (f) All shares of Common Stock
issuable upon the exercise of this Warrant in accordance with the terms hereof shall be validly issued, fully paid and nonassessable, and free from all liens and other encumbrances thereon, other than liens or other encumbrances created by the
Warrantholder. 
 (g) In no event shall any fractional share of Common Stock of the Company be issued upon any exercise of this Warrant. If,
upon any exercise of this Warrant, the Warrantholder would, except as provided in this paragraph, be entitled to receive a fractional share of Common Stock, then the Company shall deliver in cash to such holder an amount equal to such fractional
interest. 
 Section 3. Adjustment of Exercise Price and Warrant Stock. 
 (a) If, at any time prior to the Expiration Date, the number of outstanding shares of Common Stock is (i) increased by a stock dividend payable in
shares of Common Stock or by a subdivision or split-up of shares of Common Stock, or (ii) decreased by a combination of shares of Common Stock, then, following the record date fixed for the determination of holders of Common Stock entitled to
receive the benefits of such stock dividend, subdivision, split-up, or combination, the Exercise Price shall be adjusted to a new amount equal to the product of (1) the Exercise Price in effect on such record date and (1I) the quotient
obtained by dividing (x) the number of shares of Common Stock outstanding on such record date (without giving effect to the event referred to in the foregoing clause (i) or (ii)), by (y) the number of shares of Common Stock which
would be outstanding immediately after the event referred to in the foregoing clause (i) or (ii), if such event had occurred immediately following such record date. 
  

 3 

 (b) Upon each adjustment of the Exercise Price as provided in Section 3(a), the Warrantholder shall
thereafter be entitled to subscribe for and purchase, at the Exercise Price resulting from such adjustment, the number of shares of Warrant Stock equal to the product of (i) the number of shares of Warrant Stock existing prior to such
adjustment and (ii) the quotient obtained by dividing (I) the Exercise Price existing prior to such adjustment by (II) the new Exercise Price resulting from such adjustment. 
 Section 4. Division and Combination. This Warrant may be divided or combined with other Warrants upon presentation at the aforesaid office of
the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Warrantholder or its agent or attorney. The Company shall pay all expenses in connection with the preparation,
issue and delivery of Warrants under this Section 4, including any transfer taxes resulting from the division or combination hereunder. The Company agrees to maintain at its aforesaid office books for the registration of the Warrants.

 Section 5. Reclassification, Etc. In case of any reclassification or change of the outstanding Common Stock of the Company
(other than as a result of a subdivision, combination or stock dividend), or in case of any consolidation of the Company with, or merger of the Company into, another corporation or other business organization (other than a consolidation or merger in
which the Company is the continuing corporation and which does not result in any reclassification or change of the outstanding Common Stock of the Company) at any time prior to the Expiration Date, then, as a condition of such reclassification,
reorganization, change, consolidation or merger, lawful provision shall be made, and duly executed documents evidencing the same from the Company or its successor shall be delivered to the Warrantholder, so that the Warrantholder shall have the
right prior to the Expiration Date to purchase, at a total price not to exceed that payable upon the exercise of this Warrant, the kind and amount of shares of stock and other securities and property receivable upon such reclassification,
reorganization, change, consolidation or merger by a holder of the number of shares of Common Stock of the Company which might have been purchased by the Warrantholder immediately prior to such reclassification, reorganization, change, consolidation
or merger, in any such case appropriate provisions shall be made with respect to the rights and interest of the Warrantholder to the end that the provisions hereof (including provisions for the adjustment of the Exercise Price and of the number of
shares purchasable upon exercise of this Warrant) shall thereafter be applicable in relation to any shares of stock and other securities and property thereafter deliverable upon exercise hereof. 
 Section 6. Reservation and Authorization of Capital Stock. The Company shall at all times reserve and keep available for issuance such number
of its authorized but unissued shares of Common Stock as will be sufficient to permit the exercise in full of all outstanding Warrants. 
 Section 7. Stock and Warrant Books. The Company will not at any time, except upon dissolution, liquidation or winding up, close its stock books or Warrant books so as to result in preventing or delaying the exercise of any
Warrant. 
 Section 8. Limitation of Liability. No provisions hereof, in the absence of affirmative action by the Warrantholder
to purchase Warrant Stock hereunder, shall give rise to any liability of the Warrantholder to pay the Exercise Price or as a stockholder of the Company (whether such liability is asserted by the Company or creditors of the Company). 
  

 4 

 Section 9. Transfer. Subject to compliance with the Securities Act and the applicable rules
and regulations promulgated thereunder, this Warrant and all rights hereunder shall be transferable in whole or in part. Any such transfer shall be made at the office or agency of the Company at which this Warrant is exercisable, by the registered
holder hereof in person or by its duly authorized attorney, upon surrender of this Warrant together with the assignment hereof properly endorsed, and promptly thereafter a new warrant shall be issued and delivered by the Company, registered in the
name of the assignee. Until registration of transfer hereof on the books of the Company, the Company may treat the Purchaser as the owner hereof for all purposes. 
 Section 10. Investment Representations; Restrictions on Transfer of Warrant Stock. Unless a current registration statement under the Securities Act shall be in effect with respect to the Warrant Stock to
be issued upon exercise of this Warrant, the Warrantholder, by accepting this Warrant, covenants and agrees that, at the time of exercise hereof, and at the time of any proposed transfer of Warrant Stock acquired upon exercise hereof, such
Warrantholder will deliver to the Company a written statement that the securities acquired by the Warrantholder upon exercise hereof are for the account of the Warrantholder or are being held by the Warrantholder as trustee, investment manager,
investment advisor or as any other fiduciary for the account of the beneficial owner or owners for investment and are not acquired with a view to, or for sale in connection with, any distribution thereof (or any portion thereof) and with no present
intention (at any such time) of offering and distributing such securities (or any portion thereof). 
 Section 11. Loss, Destruction
of Warrant Certificates. Upon receipt of evidence satisfactory to the Company of the loss, theft, destruction or mutilation of any warrant and, in the case of any such loss, theft or destruction, upon receipt of indemnity and/or security
satisfactory to the Company or, in the case of any such mutilation, upon surrender and cancellation of such Warrant, the Company will make and deliver, in lieu of such lost, stolen, destroyed or mutilated Warrant, a new Warrant of like tenor and
representing the right to purchase the same aggregate number of shares of Common Stock. 
 Section 12. Amendments. The terms of
this Warrant may be amended, and the observance of any term herein may be waived, but only with the written consent of the Company and the Warrantholder. 
 Section 13. Notices Generally. Any notice, request, consent, other communication or delivery pursuant to the provisions hereof shall be in writing and shall be sent by one of the following means:
(i) by registered or certified first class mail, postage prepaid, return receipt requested; (ii) by facsimile transmission with confirmation of receipt; (iii) by overnight courier service; or (iv) by personal delivery, and shall
be properly addressed to the Warrantholder at the last known address or facsimile number appearing on the books of the Company, or, except as herein otherwise expressly provided, to the Company at its principal executive office at 500 Central
Avenue, Northfield, Illinois 60093, Fax: (847) 441-7652, or such other address or facsimile number as shall have been furnished to the party giving or making such notice, demand or delivery. 
  

 5 

 Section 14. Successors and Assigns. This Warrant shall bind and inure to the benefit of and
be enforceable by the parties hereto and their respective permitted successors and assigns. 
 Section 15. Governing Law. In all
respects, including all matters of construction, validity and performance, this Warrant and the obligations arising hereunder shall be governed by, and construed and enforced in accordance with, the internal laws of the State of Illinois, without
regard to conflicts of law principles. 
  

 6 

 IN WITNESS WHEREOF, the Company has caused this Warrant to be signed in its name by its duly authorized
officer. 
 Dated: January     , 2004 
  

			
	 ENTRADE INC.
 a Pennsylvania
corporation

		
	By: 	 	 
		 	 Name:     Peter R. Harvey
 Its:           President

  

 7 

 SUBSCRIPTION FORM 
 (to be executed only upon exercise of Warrant) 
  

	To:	Entrade Inc. 

  

	  	500 Central Avenue 

	  	Northfield, Illinois 60093 

  

	  	[Choose one or both of the paragraphs, as applicable] 

 The undersigned, pursuant to the provisions set forth in the attached Warrant (No. __), hereby irrevocably elects to purchase
                     shares of the Common Stock covered by such Warrant and herewith makes payment of
$            , representing the full purchase price for such shares at the price per share provided in such warrant. 
 The undersigned, pursuant to the provisions set forth in the attached Warrant (No. __), hereby irrevocably elects to exercise the right of conversion
represented by the attached warrant for                      shares of Common Stock, and as payment therefore hereby directs Entrade Inc. to
withhold                      shares of Common Stock that the undersigned would otherwise be entitled thereunder. 
  

									
					
		 		 		 		 	
	Dated: 	 	 	 		 	Name:	 	 
					
		 		 		 	Signature: 	 	 
					
		 		 		 	Address:	 	 
					
		 		 		 		 	 

  

 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}]]