Document:

Exhibit 10.98

Exhibit 10.98

FORM
OF

RESTRICTED STOCK AWARD AGREEMENT

THIS RESTRICTED STOCK AWARD AGREEMENT (the “Agreement”) is made and entered into as of the
_____ day of ________ by and between CHROMCRAFT REVINGTON, INC. (the “Company”), a
Delaware corporation, and                      (the “Director”),

WITNESSETH:

WHEREAS, the Company maintains a Directors’ Stock Plan, as currently in effect or as may
hereafter be amended (the “Plan”), pursuant to which non-employee directors of the Company receive
awards of restricted stock or stock options as determined by the Company’s Compensation Committee;
and

WHEREAS, the Director was re-elected as a member of the Board of Directors of the Company at
the Company’s annual meeting of stockholders held on ________ and, accordingly, the Director
received an award of _____ shares of restricted common stock of the Company under the Plan; and

WHEREAS, the Plan provides that such award of restricted common stock shall be evidenced by a
written award agreement and shall be restricted in accordance with the terms of the Plan and this
Agreement.

NOW, THEREFORE, in consideration of the foregoing premises, the issuance of restricted common
stock of the Company to the Director, the respective covenants, agreements and obligations
contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Company and the Director hereby agree as follows:

1. Award of Restricted Stock. Subject to the terms and conditions of the Plan and
this Agreement, the Company hereby agrees to issue to the Director a
total of ______________ shares of common stock of the Company, which shares shall be issued
under the Plan and be restricted in accordance with the Plan and this Agreement (the “Restricted
Stock”).

2. Award
Date. The Award Date for the Award of the Restricted Stock is
____________ (the “Award Date”).

3. Period of Restriction; Vesting of Restricted Stock. The Period of Restriction with
respect to the Award of the Restricted Stock shall begin on
___________ and shall end and lapse on
the one-year anniversary of the Award Date (the “Period of Restriction”). Upon the end or lapse of
the Period of Restriction, the shares of Restricted Stock shall vest only so long as the Director
is still serving as a member of the Board of Directors at the time that the Period of Restriction
shall have ended or lapsed. Notwithstanding the foregoing provisions of this Section 3, the Period
of Restriction shall end and lapse (and all of the shares of Restricted Stock shall become fully
vested) prior to the one-year anniversary of the Award Date in the event of a
Director’s death or Disability, or in the event of a Change in Control, during the Period of
Restriction as provided in the Plan. There shall be no other conditions or performance measures,
targets or goals or any other requirement that must be satisfied or achieved in order for the
shares of Restricted Stock to become vested. Shares of Restricted Stock that have not become
vested by the end of the Period of Restriction shall be forfeited and revert back to the Company,
and the Director (and any party claiming by or through the Director) shall have no rights or claims
to such shares.

 

 

 

4. Dividend, Voting and Other Rights. During the Period of Restriction and until the
shares of Restricted Stock shall become vested or have been forfeited, the shares of Restricted
Stock shall be issued and outstanding for all corporate purposes and the Director shall be entitled
to (a) receive all dividends and distributions, if any, paid with respect to the shares of
Restricted Stock, (b) exercise all voting rights with respect to the shares of Restricted Stock,
and (c) exercise and possess all other rights and attributes of ownership of the shares of
Restricted Stock, except with respect to the transferability of such shares and as provided
otherwise in the Plan and this Agreement.

5. Certain Agreements of the Director. The Director hereby understands and agrees as
follows:

(a) none of the shares of Restricted Stock have been registered or qualified under any federal
or state securities laws and are being issued by the Company in reliance upon certain exemptions
from registration or qualification under such laws;

(b) because the shares of Restricted Stock have not been registered or qualified under any
federal or state securities laws and because the Director may be deemed to be an affiliate of the
Company under the federal securities laws, such shares are subject to restrictions on resale and
transfer imposed by applicable federal and state law in addition to the restrictions set forth in
the Plan and this Agreement;

(c) he is (and his heirs, executors, administrators and representatives are) bound by, and the
shares of Restricted Stock are subject to, the terms, conditions and restrictions set forth in the
Plan and this Agreement, the Company’s Certificate of Incorporation and By-Laws and applicable law
(all as currently or hereafter in effect);

(d) there is no obligation of the Company to continue to have the shares of the Company’s
common stock (including the shares of Restricted Stock if and when they may become vested) listed,
traded or quoted on any securities exchange or on any quotation system or other established trading
market;

(e) no representations, promises or commitments have been made to the Director relating to (i)
the repurchase by the Company of any shares of Restricted Stock upon such shares having become
vested, or (ii) the amount of dividends or distributions, the percentage of profit or
the return on investment, if any, that he might expect to receive as a result of owning the shares
of Restricted Stock (whether before or after the shares shall have become vested); and

 

2

 

(f) the shares of Restricted Stock shall be held by the Director for his own account and not
for another person and not with a view to resale, distribution, subdivision or fractionalization of
such shares.

6. Non-transferability. Except in the event of the Director’s death or Disability
(and then only in the manner set forth in the Plan), until the Period of Restriction shall have
ended or lapsed and the shares of Restricted Stock shall have become vested or have been forfeited,
the unvested shares of Restricted Stock (a) cannot be sold, transferred, assigned, margined,
encumbered, bequeathed, gifted, alienated, hypothecated, pledged or otherwise disposed of, nor can
a lien, security interest or option be placed thereon, whether by operation of law, whether
voluntarily or involuntarily, or otherwise, and (b) are not subject to execution, attachment or
similar process or otherwise available to the creditors of the Director. After the Period of
Restriction shall have ended or lapsed and the shares of Restricted Stock shall have become vested,
the shares of Restricted Stock may be sold, transferred, gifted or otherwise disposed of in
accordance with applicable law and the requirements then in effect of the principal securities
exchange or market (or of any quotation system or other established trading market) on which the
Company’s shares of common stock are then listed or traded, if any. Any attempted or purported
sale, transfer or other act in breach of or contrary to this Section 6 shall be null and void and
of no force or effect whatsoever.

7. Issuance of Shares. Promptly following the execution of this Agreement, the
Company shall issue (or purchase in the open market or in privately-negotiated transactions) the
shares necessary to satisfy the Award of Restricted Stock and thereafter until vesting or
forfeiture shall maintain such shares in book-entry form in the name of or for the benefit of the
Director. Until such time as the Period of Restriction shall have ended or lapsed and the shares
of Restricted Stock shall have become vested, the Director shall not be entitled to hold such
unvested shares in “street name” and the Company shall not issue any certificate representing
unvested shares in the name of the Director. Upon request by the Director following the date on
which the Period of Restriction shall have ended or lapsed and the shares of Restricted Stock shall
have become vested, the Company shall release such vested shares to the Director and shall, based
upon the instructions of the Director, either cause such shares to be placed in “street name” with
a broker designated by the Director or issue a stock certificate representing such vested shares in
the name of the Director with a legend in substantially the following form imprinted thereon:

RESTRICTIONS ON TRANSFER

The securities represented by this Certificate have not been registered or qualified
under the Securities Act of 1933, as amended (the “Act”), the laws of the State of
Delaware or any other state securities laws and may not be sold, transferred,
gifted, pledged or otherwise disposed of in the absence of such registration or
qualification or an exemption therefrom under the Act and any applicable state
securities laws.

The securities represented by this Certificate are subject to the terms of a
Restricted Stock Award Agreement and the Directors’ Stock Plan of the Company, which
contain restrictions on the sale, transfer, gift, pledge and other disposition of,
and other matters relating to, these securities, copies of which agreement and plan
are on file with the Secretary of the Company.

 

3

 

8. Effect of the Plan; Continuation in Office; Certain Conflicts. The Award of
Restricted Stock is made under and is subject to the terms and conditions of the Plan, and the
Director agrees that he shall comply with the provisions of the Plan.

Neither this Agreement nor the Award of Restricted Stock (a) constitutes an agreement,
understanding or commitment relating to the continued service or the nomination of the Director as
a director of the Company, (b) affects or limits the ability of the Director to resign or retire as
a director of the Company at any time, including during the Period of Restriction, or (c) affects
or limits the stockholders or the Board of Directors of the Company from removing the Director from
office at any time, including during the Period of Restriction.

In the event of any conflict between the Plan and this Agreement, then this Agreement shall
control; provided however, that in the event that this Agreement is silent with respect to a
particular matter relating to the Award of Restricted Stock, then the Plan shall control with
respect to such matter.

9. Income Taxes. All federal, state and local income taxes (and all interest and
penalties thereon) that arise or are imposed upon by virtue of the vesting of the shares of
Restricted Stock shall be the responsibility of and paid by the Director.

10. Effect of Change in Control, Death or Disability. Notwithstanding anything to the
contrary contained in this Agreement, in the event of a Change in Control (as defined in the Plan)
or the death or Disability (as defined in the Plan) of the Director during the Period of
Restriction, all shares of Restricted Stock that have not yet become vested as of the time of such
event shall be treated in accordance with and as required by the Plan.

11. Miscellaneous.

(a) Binding Effect; Assignment. This Agreement shall be binding upon and inure to the
benefit of the Company and the Director and their respective heirs, executors, representatives,
successors and assigns; provided, however that neither party may assign this Agreement without the
prior written consent of the other party hereto except that the Company may, without the consent of
the Director, assign this Agreement in connection with any merger, consolidation, share exchange,
combination, sale of stock or assets or similar transaction involving the Company or any
transaction or series of transactions constituting a Change in Control. In the event of any such
permitted assignment by the Company of this Agreement, all references to the “Company” shall
thereafter mean and refer to the successor or assignee of the Company.

 

4

 

(b) Waiver. Either party hereto may, by a writing signed by the waiving party, waive
the performance by the other party of any of the covenants or agreements to be performed by such
other party under this Agreement or any breach of or noncompliance with any provision of this
Agreement. The waiver by either party hereto shall not operate or be construed as a continuing or
subsequent waiver or a waiver of any other or subsequent failure of performance, breach or
noncompliance hereunder. The failure or delay of either party at any time to insist upon the
strict performance of any provision of this Agreement or to enforce its rights or remedies under
this Agreement shall not be construed as a waiver or relinquishment of the right to insist upon
strict performance of such provision, or to pursue any of its rights or remedies for any breach
hereof, at a future time.

(c) Amendment. This Agreement may be amended, modified or supplemented only by a
written agreement executed by both of the parties hereto.

(d) Headings. The headings in this Agreement have been inserted solely for ease of
reference and shall not be considered in the interpretation or construction of this Agreement.

(e) Severability. In case any one or more of the provisions (or any portion thereof)
contained herein shall, for any reason, be held to be invalid, illegal or unenforceable in any
respect, such invalidity, illegality or unenforceability shall not affect any other provision of
this Agreement, but this Agreement shall be construed as if such invalid, illegal or unenforceable
provision or provisions (or portion thereof) had never been contained herein.

(f) Counterparts. This Agreement may be executed in any number of counterparts, each
of which shall be an original, but such counterparts shall together constitute one and the same
agreement.

(g) Construction. This Agreement shall be deemed to have been drafted by both parties
hereto. This Agreement shall be construed in accordance with the fair meaning of its provisions
and its language shall not be strictly construed against, nor shall ambiguities be resolved
against, either party.

(h) Entire Agreement. This Agreement and the Plan constitute the entire understanding
and agreement between the parties hereto (and supersede all other prior agreements, understandings,
commitments and representations), whether oral or written, between the parties hereto relating to
the shares of Restricted Stock.

(i) Governing Law. Because the Company maintains its principal office in Indiana,
this Agreement shall be governed by and construed in accordance with the laws of the State of
Indiana, without reference to any choice of law provisions, principles or rules thereof (whether of
the State of Indiana or any other jurisdiction) that would cause the application of any laws of any
jurisdiction other than the State of Indiana.

(j) Recitals. The recitals, premises and “Whereas” clauses contained on page 1 of
this Agreement are expressly incorporated into and made a part of this Agreement.

 

5

 

(k) Capitalized Terms. All capitalized terms used but not otherwise defined in this
Agreement shall have the same meaning ascribed to such terms in the Plan.

(l) Review and Consultation. The Director hereby acknowledges and agrees that he (i)
has read and is familiar with this Agreement and the Plan, (ii) understands the provisions and
effects of this Agreement and the Plan, and (iii) has consulted with such of his attorneys,
accountants and other advisors as he has deemed advisable prior to executing this Agreement. THE
DIRECTOR HEREBY FURTHER UNDERSTANDS, ACKNOWLEDGES AND AGREES THAT HE HAS NOT RECEIVED ANY ADVICE,
COUNSEL OR RECOMMENDATION WITH RESPECT TO THIS AGREEMENT OR THE PLAN FROM ANY DIRECTOR, OFFICER OR
EMPLOYEE OF, OR ANY ATTORNEY OR REPRESENTATIVE FOR, THE COMPANY.

(m) Certain Approvals Required. Any amendment, modification or supplement of, or any
waiver under, this Agreement on behalf of the Company shall be made and shall be effective only
upon the approval thereof by the Compensation Committee of the Company.

* * *

[Signature Page Follows this Page]

 

6

 

IN WITNESS WHEREOF, the Company and the Director have made, entered into, executed and
delivered this Agreement as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	CHROMCRAFT REVINGTON, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	DIRECTOR	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Signature of Director	 	 

 

7Exhibit 10.1

EXHIBIT 10.1

CONVERTIBLE PROMISSORY NOTE

			
	 	 	 
	$200,000.00
	 	August 12, 2010

Alpharetta, Georgia

FOR VALUE RECEIVED, the undersigned, SANUWAVE HEALTH, INC. (the “Company”), promises
to pay to the order of KEVIN AND MARGARET RICHARDSON, or their registered assigns (the
“Holder”), the principal sum of Two Hundred Thousand Dollars ($200,000.00), with interest
thereon from time to time as provided herein.

1. Maturity Date; Repayment; Interest. The principal under this Note shall be due and
payable ninety (90) days after the issuance of this Note (the “Maturity Date”), together
with interest from the date hereof (computed on the basis of a 365-day year) at the rate of five
percent (5%) per annum on the unpaid principal amount in arrears. Provided this Note is not
converted in accordance with Section 4 below, interest shall be due and payable at the
earlier of (i) the Maturity Date, or (ii) the Prepayment Date (defined below). No principal or
interest shall be payable or callable under this Note until the earlier of (a) the Maturity Date or
(b) the Prepayment Date.

2. Prepayment. The Company may prepay the Note in cash, in whole but not in part,
prior to the Maturity Date or the conversion of the Note (the “Prepayment Date”).

3. Warrant. At the earlier of the Maturity Date or the Prepayment Date, and provided
that this Note has not been converted in accordance with Section 4 below, the Company shall
issue the Holder a warrant, in the form attached hereto as Exhibit A to purchase, at a
purchase price of $4.00 per share, the number of shares of the Company’s common stock, par value
$0.001 determined as follows:

The number of shares is determined by dividing the sum of the principal and interest
payable hereunder by twenty (20). For example: if the sum of the principal and
interest is $200,000, the number of shares equals 10,000 (200,000 / 20).

4. Conversion.

(a) Upon the consummation of a Qualified Financing, the Company shall cause the conversion of
the unpaid principal and interest on this Note into (A) shares of the Company’s common stock, par
value $0.001 (the “Company Stock”), the number of such shares to be equal to the amount
obtained by dividing (i) by the unpaid principal and interest on this Note to be converted, by (ii)
the Conversion Price (as defined below), (B) a warrant to purchase the same number of warrant
shares as the number of warrant shares a Holder would have received had he/she invested an amount
equal to the unpaid principal and interest on this Note to be converted in the Qualified Financing;
the terms of such warrant to be substantially similar to the terms of the warrant granted pursuant
to the Qualified Financing, and (C) any other securities to be issued pursuant to the Qualified
Financing in the same amounts and under the same terms the Holder would had received had he/she
invested an amount equal to the unpaid principal and interest on this Note to be converted, in the
Qualified Financing. The conversion price for the securities to be issued to the Holder shall be
equal to the per share purchase price of the Company Stock issued in the Qualified Financing, the
“Conversion Price”). For purposes of this Note, “Qualified Financing” shall mean
the consummation of a private placement of not less than Three Million Dollars ($3,000,000) in the
aggregate of Company Stock.

 

 

 

(b) In the event of any conversion as provided above, the Company shall not issue fractional
securities but shall pay the dollar equivalent of any fractional securities that would otherwise be
issuable.

(c) The Company shall not be obligated to issue certificates evidencing the securities
issuable upon such conversion unless the Note is either delivered to the Company or the Holder
notifies the Company that such Note has been lost, stolen or destroyed and executes an agreement
satisfactory to the Company to indemnify the Company from any loss incurred by it in connection
with such Note. The Company shall, as soon as practicable after such delivery, or such agreement
and indemnification, issue and deliver at such office to such holder of the Note, a certificate or
certificates for the securities to which the Holder shall be entitled as the result of a
conversion, as mutually agreed to between the Company and the Holder. The person or persons
entitled to receive securities issuable upon such conversion shall be treated for all purposes as
the record holder or holders of such securities on such date.

(d) In the event that any principal of or interest on this Note remains unpaid at any time
after payment thereof is due hereunder, the Holder shall retain all rights hereunder until such
time as amounts due, including additional accrued interest, have been paid in full. Subject to the
foregoing, upon (I) either (w) payment in full by the Company to the Holder of all principal,
interest and any other amounts due pursuant to the terms hereof or (x) conversion of this Note in
full pursuant to the terms hereof, and (II) fulfillment by the Company of all its other material
obligations hereunder, this Note shall terminate.

5. Defaults and Remedies.

(a) In the event the principal is not paid in full within three (3) business days of the due
date stipulated above, or any other default occurs, then, from and after such date and until
payment in full of the amount due hereunder, interest shall accrue on the outstanding principal
balance of this Note at the simple rate equal to ten percent (10%) per annum. Time is of the
essence of this Note. The Company agrees to pay all costs and expenses of collection of the
indebtedness evidenced by this Note including fifteen percent (15%) of the amount of principal and
interest involved as attorneys’ fees (if collected by or through an attorney) in connection with
such collection.

(b) Presentment for payment, demand, protest and notice of demand, dishonor, protest and
non-payment and all other notices are hereby waived by the Company. No acceptance of a partial
installment, late payment or indulgences granted from time to time shall be construed (i) as a
novation of this Note or as a reinstatement of the indebtedness evidenced hereby or as a waiver of
the right of the Holder thereafter to insist upon strict compliance with the terms of this Note,
or (ii) to prevent the exercise of any right granted hereunder or by the laws of the State of
Georgia; and the Company hereby expressly waives the benefit of any statute or rule of law or
equity now provided, or which may hereafter be provided, which would produce a result contrary to
or in conflict with the foregoing. No extension of the time for the payment of this Note or any
installment due hereunder, made by agreement with any person now or hereafter liable for the
payment of this Note, shall operate to release, discharge, modify, change or affect the original
liability of the Company under this Note, either in whole or in part, unless the Holder agrees
otherwise in writing.

(c) If for any circumstances whatsoever, fulfillment of any provision of this Note or of any
other instrument evidencing or securing the indebtedness evidenced hereby, at the time performance
of such provision shall be due, shall involve transcending the limit of validity presently
prescribed by any applicable usury statute or any other applicable law, with regard to obligations
of like character and amount, then, the obligation to be fulfilled shall be reduced to the limit of
such validity, so that in no event shall any action be possible under this Note or under any other
instrument evidencing or securing the indebtedness evidenced hereby, that is in excess of the
current limit of such validity, but such obligation shall be fulfilled to the limit of such
validity.

 

2

 

6. Remedies Cumulative. No remedy herein conferred upon the Holder is intended to be
exclusive of any other remedy and each and every such remedy shall be cumulative and shall be in
addition to every other remedy given hereunder or now or hereafter existing at law or in equity or
by statute or otherwise. To the extent permitted by applicable law, the Company and the Holder
waive presentment for payment, demand, protest and notice of dishonor.

7. Governing Law. This Note shall be governed by and construed in accordance with the
laws of the State of Georgia regardless of conflicts of law principles.

8. Assignment. Neither the Holder nor the Company shall assign its rights or
obligations under this Note to any third party. Any assignment in breach of the foregoing shall be
void and of no force or effect.

9. Amendment/Waiver. No term of this Note may be amended and the observance of any
term of this Note may not be waived except with the written consent of the Company and Holder
hereof.

IN WITNESS WHEREOF, this Note has been executed by the Company by its duly authorized officer
as of the day and year first written above.

	 	 	 	 	 
	 	SANUWAVE Health, Inc.

 	 
	 	By:  	/s/ Barry J. Jenkins
 	 
	 	Name: Barry J. Jenkins	 
	 	Title: Chief Financial Officer	 

 

3

 

	 	 	 	 	 

EXHIBIT A

Form of Class A Warrant Agreement

SANUWAVE HEALTH, INC.

Warrant for the Purchase of [     ]

Shares of Common Stock

Par Value $0.001

CLASS A WARRANT AGREEMENT

(this “Agreement”)

THE HOLDER OF THIS WARRANT, BY ACCEPTANCE HEREOF, BOTH WITH RESPECT TO THE WARRANT AND COMMON STOCK
ISSUABLE UPON EXERCISE OF THE WARRANT, AGREES AND ACKNOWLEDGES THAT THE SECURITIES REPRESENTED BY
THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES HAVE BEEN ACQUIRED
FOR INVESTMENT AND MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF
(A) AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND THE LAWS OF ANY APPLICABLE
STATE, OR (B) AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER, AND ITS COUNSEL, TO THE
EFFECT THAT THE SALE OR TRANSFER IS EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT AND SUCH
STATE STATUTES, OR (II) UNLESS SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT.

This is to certify that, for value received,                                         , (the “Holder”) is entitled to
purchase from SANUWAVE HEALTH, INC. (the “Company”), on the terms and conditions hereinafter set
forth, all or any part of [                ] shares (“Warrant Shares”) of the Company’s common stock, par
value $0.001 (the “Common Stock”), at the purchase price of $4.00 per share (“Warrant Price”).
Upon exercise of this warrant in whole or in part, a certificate for the Warrant Shares so
purchased shall be issued and delivered to the Holder. If, at any time prior to the Expiration
Date (as defined below), less than the total warrant is exercised, a new warrant of similar tenor
shall be issued for the unexercised portion of the warrants represented by this Agreement.

This warrant is granted subject to the following further terms and conditions:

1. This warrant shall be exercisable at any time or from time to time after the execution and
delivery of this Warrant by the Company on the date hereof and shall expire at 5:00 p.m. Eastern
Time on the date that is five years following the date hereof (the “Expiration Date”). In order to
exercise this warrant with respect to all or any part of the Warrant Shares for which this warrant
is at the time exercisable, the Holder (or in the case of exercise after the Holder’s death, the
Holder’s executor, administrator, heir or legatee, as the case may be) must take the following
actions:

(a) Deliver to the Corporate Secretary of the Company an executed notice of exercise
substantially in the form of notice attached to this Agreement (the “Exercise Notice”) in which
there is specified the number of Warrant Shares that are to be purchased under the exercised
warrant;

(b) Tender payment of the aggregate Warrant Price for the purchased shares in cash or by check
made payable to the Company’s order; and

 

 

 

(c) Furnish to the Company appropriate documentation that the person or persons exercising the
warrant (if other than the Holder) have the right to exercise the warrant.

(d) For purposes of this Agreement, the “Exercise Date” shall be the date on which the
executed Exercise Notice shall have been delivered to the Company.

(e) Upon such exercise, the Company shall issue and cause to be delivered, with all reasonable
dispatch (and in any event within five business days of such exercise), to or upon the written
order of the Holder at its address, and in the name of the Holder, a certificate or certificates
for the number of full Warrant Shares issuable upon the exercise, together with such other property
(including cash) and securities as may then be deliverable upon such exercise. Such certificate or
certificates shall be deemed to have been issued and the Holder shall be deemed to have become a
holder of record of such Warrant Shares as of the Exercise Date.

2. The Holder acknowledges that this warrant may not be exercised if the issuance of the
Warrant Shares upon such exercise would constitute a violation of any applicable federal or state
securities laws, or other law or regulation, and the Warrant Shares have not been and will not be
registered as of the date of exercise of this warrant under the Securities Act or the securities
laws of any state. The Holder acknowledges that this warrant and the Warrant Shares, when and if
issued, are and will be “restricted securities” as defined in Rule 144 promulgated under the
Securities Act and must be held indefinitely unless subsequently registered under the Securities
Act and any other applicable state registration requirements. Except as provided herein, the
Company is under no obligation to register the securities under the Securities Act or under
applicable state statutes. In the absence of such a registration or an available exemption from
registration, sale of the Warrant Shares may be practicably impossible. The Holder shall confirm
to the Company the representations set forth above in connection with the exercise of all or any
portion of this warrant.

3. The number of Warrant Shares purchasable upon the exercise of this warrant and the Warrant
Price per share shall be subject to adjustment from time to time as follows:

(a) In the event that the Company should at any time, or from time to time, fix a record date
for the effectuation of a split, either forward or reverse, subdivision or combination of the
outstanding shares of Common Stock, or the determination of holders of Common Stock entitled to
receive a dividend or other distribution payable in additional shares of Common Stock or other
securities or rights convertible into, or entitling the holder thereof to receive directly or
indirectly, additional shares of Common Stock (hereinafter referred to as “Common Stock
Equivalents”), without payment of any consideration by such holder for the additional shares of
Common Stock or the Common Stock Equivalents (including the additional shares of Common Stock
issuable upon conversion or exercise thereof), then, as of such record date (or the date of such
dividend distribution, split or subdivision if no record date is fixed), the number of Warrant
Shares purchasable hereunder shall be appropriately increased or decreased in proportion to such
increase or decrease in the aggregate number of shares of Common Stock outstanding and those
issuable with respect to such Common Stock Equivalents.

(b) Whenever there is an adjustment in the number of Warrant Shares purchasable upon the
exercise of this warrant pursuant to the provisions of Section 3(a), the Warrant Price shall be
adjusted to an amount proportionate to the adjustment in the number of Warrant Shares.

 

2

 

(c) If at any time, or from time to time, there shall be a recapitalization of the Common
Stock (other than a subdivision or combination, or merger or sale of assets transaction provided
for elsewhere in this Section 3) provision shall be made so that the Holder shall thereafter be
entitled to receive upon exercise of this warrant the number of shares of Common Stock, Common
Stock Equivalents or property of the
Company or otherwise, to which the Holder would have been entitled upon such recapitalization
assuming this warrant was exercised immediately prior thereto. In any such case, appropriate
adjustment shall be made in the application of the provisions of this Section 3 with respect to the
rights of the Holder of this warrant after the recapitalization to the end that the provisions of
this Section 3 (including adjustment of the Warrant Price then in effect and the number of Warrant
Shares issuable upon exercise) shall be applicable after that event as nearly equivalent as may be
practicable.

(d) If at any time, or from time to time, the Company shall consolidate with or merge into
another corporation, or shall sell, lease, or convey to another corporation the assets of the
Company as an entity or substantially as an entity (any one or more of such transactions being a
“Corporate Transaction”), provision shall be made so that the Holder shall thereafter be entitled
to receive upon exercise of this warrant the number of shares of Common Stock, Common Stock
Equivalents or property of the Company or otherwise, to which the Holder would have been entitled
to receive in such Corporate Transaction assuming this warrant was exercised immediately prior
thereto. In any such case, appropriate adjustment shall be made in the application of the
provisions of this Section 3 with respect to the rights of the Holder of this warrant after the
Corporate Transaction to the end that the provisions of this Section 3 (including adjustment of the
Warrant Price then in effect and the number of Warrant Shares issuable upon exercise) shall be
applicable after that event as nearly equivalent as may be practicable.

4. The Company covenants and agrees that all Warrant Shares which may be delivered upon the
exercise of this warrant will, upon delivery, be free from all taxes, liens, and charges with
respect to the purchase thereof; provided, that the Company shall have no obligation with respect
to any income tax liability of the Holder.

5. The Company agrees at all times to reserve or hold available a sufficient number of shares
of Common Stock to cover the number of Warrant Shares issuable upon the exercise of this warrant.

6. This warrant shall not entitle the holder hereof to any voting rights or other rights as a
shareholder of the Company, or to any other rights whatsoever, except the rights herein expressed,
and no dividends shall be payable or accrue in respect of this warrant or the Warrant Shares until
or unless, and except to the extent that, this warrant shall be exercised.

7. The Company may deem and treat the registered owner of this warrant as the absolute owner
hereof for all purposes and shall not be affected by any notice to the contrary.

8. In the event that any provision of this Agreement is found to be invalid or otherwise
unenforceable under any applicable law, such invalidity or unenforceability shall not be construed
as rendering any other provisions contained herein invalid or unenforceable, and all such other
provisions shall be given full force and effect to the same extent as though the invalid or
unenforceable provision was not contained herein.

9. This Agreement shall be governed by and construed in accordance with the internal laws of
the State of Georgia, without regard to the principles of conflicts of law thereof.

10. This Agreement shall be binding on and inure to the benefit of the Company and the person
to whom a warrant is granted hereunder, and such person’s heirs, executors, administrators,
legatees, personal representatives, assignees, and transferees.

11. The Company shall not have any right to redeem any of the Warrants evidenced hereby.

 

3

 

IN WITNESS WHEREOF, the Company has caused this warrant to be executed by the signature of its
duly authorized officer, effective this
 _____ 
day of                      20_____.

	 	 	 	 	 
	 	SANUWAVE HEALTH, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	Barry J. Jenkins 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

The undersigned Holder hereby acknowledges receipt of a copy of the foregoing warrant and
acknowledges and agrees to the terms and conditions set forth in the warrant.

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	  	  	 
	 	 	 	 

 

4

 

	 	 	 	 	 

Exercise Notice

(to be signed only upon exercise of Warrant)

TO: SANUWAVE HEALTH, INC.

The Holder of the attached warrant hereby irrevocable elects to exercise the purchase rights
represented by the warrant for, and to purchase thereunder,                                                              shares of common
stock of SANUWAVE Health, Inc. and herewith makes payment therefore, and requests that the
certificate(s) for such shares be delivered to the Holder at:

 

 

 

If acquired without registration under the Securities Act of 1933, as amended (“Securities
Act”), the Holder represents that the Common Stock is being acquired without a view to, or for,
resale in connection with any distribution thereof without registration or other compliance under
the Securities Act and applicable state statutes, and that the Holder has no direct or indirect
participation in any such undertaking or in the underwriting of such an undertaking. The Holder
understands that the Common Stock has not been registered, but is being acquired by reason of a
specific exemption under the Securities Act as well as under certain state statutes for
transactions by an issuer not involving any public offering and that any disposition of the Common
Stock may, under certain circumstances, be inconsistent with these exemptions. The Holder
acknowledges that the Common Stock must be held and may not be sold, transferred, or otherwise
disposed of for value unless subsequently registered under the Securities Act or an exemption from
such registration is available. The Company is under no obligation to register the Common Stock
under the Securities Act or any state securities law, except as provided in the Agreement for the
warrant. The certificates representing the Common Stock will bear a legend restricting transfer,
except in compliance with applicable federal and state securities statutes.

The Holder agrees and acknowledges that this purported exercise of the warrant is conditioned
on, and subject to, any compliance with requirements of applicable federal and state securities
laws deemed necessary by the Company.

DATED this
 _____ 
day of                                                             ,                   .

	 	 	 	 	 
	 	 	 
	 	
 	 
	 	Signature 	 
	 	 	 

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00177-of-00352.parquet"}]]