Document:

Exhibit
4.13

 

QUALIGEN
THERAPEUTICS, INC.

 

WARRANT
TO PURCHASE COMMON STOCK

 

_____,
2020

 

The
book-entry for this uncertificated Warrant evidences that, for good and valuable consideration received, __________ or any person
to whom this Warrant may be transferred (in compliance with the assignment restrictions hereof) and who has become a registered
holder of this Warrant (such holder (either the original holder or such transferee), the “Holder”) is entitled to
subscribe for and purchase from Qualigen Therapeutics, Inc., a Delaware corporation (the “Company”), __________
fully paid and non-assessable shares of the Common Stock, $0.001 par value per share (“Common Stock”), of the Company,
at a Warrant exercise price of $0.7195 per share (the “Exercise Price”).

 

This
Warrant is the Warrant issued to the Holder in exchange for the corresponding “Series C Preferred Stock Warrant” which
had been issued on _______, 20__ by Qualigen, Inc. and which corresponding “Series C Preferred Stock Warrant” (as
previously adjusted through the time of the merger) had been assumed by the Company pursuant to a May 22, 2020 merger involving
Qualigen, Inc. By accepting this Warrant, the Holder acknowledges that such corresponding Qualigen, Inc. “Series C Preferred
Stock Warrant” is no longer exercisable, and that such corresponding “Series C Preferred Stock Warrant” has
instead been replaced by this Warrant.

 

This
Warrant is fully vested and may be exercised in whole or in part at any time or from time to time until 5:00 p.m., San Diego,
California time, on _______, 202_.

 

This
Warrant is subject to the following provisions, terms and conditions.

 

1.
Exercise. The rights represented by this Warrant may be exercised by the Holder hereof, in whole or in part, by written
notice of exercise delivered to the Company at the principal office of the Company and upon payment to it by check of the aggregate
Exercise Price for such shares. Because this Warrant is uncertificated, physical surrender of this Warrant is not required.

 

2.
Issuance of Common Stock. The Company agrees that the shares of Common Stock purchased hereby shall be and are deemed to
be issued to the Holder hereof as the record owner of such shares as of the close of business on the date on which this Warrant
shall have been duly exercised and payment made for such shares as aforesaid. Book-entries for the shares of Common Stock so purchased
shall be promptly made in favor of the holder hereof and in no event later than five (5) business days after the rights represented
by this Warrant shall have been so exercised, and, unless this Warrant has expired, a new book-entry for a Warrant representing
the number of shares of Common Stock, if any, with respect to which this Warrant shall not then have been exercised shall also
be made in favor of the holder hereof within such time.

 

3.
Covenants of Company. The Company covenants and agrees that all shares of Common Stock that may be issued upon the exercise
of the rights represented by this Warrant will, upon issuance, be duly authorized and issued, fully paid and non-assessable, and
free from all taxes, liens and charges with respect to the issue thereof. The Company further covenants and agrees that during
the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized,
and reserved for the purpose of issue or transfer upon exercise of the subscription rights evidenced by this Warrant, a sufficient
number of shares of its Common Stock and Common Stock to provide for the exercise of the rights represented by this Warrant.

 

4.
Antidilution Adjustments. The above provisions are, however, subject to the following:

 

(a)
The Exercise Price shall be subject to adjustment from time to time as hereinafter provided. Subject to the provisions of Section
4(e) below, upon each adjustment of the Exercise Price, the holder of this Warrant shall thereafter be entitled to purchase, at
the Exercise Price resulting from such adjustment, the number of shares obtained by multiplying the Exercise Price in effect immediately
prior to such adjustment by the number of shares purchasable pursuant to this Warrant immediately prior to such adjustment and
dividing the product thereof by the Exercise Price resulting from such adjustment.

 

(b)
In the event the outstanding shares of Common Stock shall be subdivided (split), or combined (reverse split), by reclassification
or otherwise, or in the event of any dividend or other distribution payable on the Common Stock in shares of Common Stock, the
applicable Exercise Price in effect immediately prior to such subdivision, combination, dividend or other distribution shall,
concurrently with the effectiveness of such subdivision, combination, dividend or other distribution, be proportionately adjusted.

 

    	 

    	 

    

 

(c)
If any capital reorganization or reclassification of the capital stock of the Company, or consolidation or merger of the Company
with another corporation, or the sale of all or substantially all of the Company’s assets to another corporation shall be
effected in such a way that holders of Common Stock shall be entitled to receive stock, securities or assets with respect to or
in exchange for shares of Common Stock (such stock, securities or assets being hereinafter referred to as “substituted property”)
with respect to or in exchange for such Common Stock, then, as a condition of such reorganization, reclassification, consolidation,
merger or sale, the holder hereof shall have the right to purchase and receive upon the basis and upon the terms and conditions
specified herein and in lieu of the shares of the Common Stock of the Company immediately theretofore purchasable and receivable
upon the exercise of this Warrant, such substituted property as may be issued or payable with respect to or in exchange for a
number of outstanding shares of such Common Stock equal to the number of shares of such stock immediately theretofore purchasable
and receivable upon the exercise of this Warrant had such reorganization, reclassification, consolidation, merger or sale not
taken place, and in any such case appropriate provision shall be made with respect to the rights and interests of the holder of
this Warrant to the end that the provisions hereof (including without limitation provisions for adjustments of the Exercise Price
and of the number of shares purchasable upon the exercise of this Warrant) shall thereafter be applicable, as nearly as may be
practicable, in relation to any substituted property thereafter purchasable and receivable upon the exercise of this Warrant.

 

(d)
In the event the Company at any time after the date hereof makes, or fixes a record date for the determination of holders of Common
Stock entitled to receive, a dividend or other distribution payable in securities of the Company (other than dividends or distributions
described in Section 4(b) of this Warrant), then and in each such event thereafter, the holder of this Warrant upon the exercise
thereof will be entitled to receive the number of shares of Common Stock purchased at the Exercise Price then in effect, and,
in addition and without payment therefor, the amount of securities of the Company that such holder would have received had such
holder exercised this Warrant on the date of such event.

 

(e)
If at any time or from time to time the Company shall issue or sell any Additional Shares (as defined below) for an Effective
Price (as defined below) per share less than the applicable Exercise Price of the Warrant then in effect, then and in each such
case, the then applicable Exercise Price of the Warrant shall be reduced to an adjusted Exercise Price, as of the opening of business
on the date of such issue or sale, equal to such Effective Price and the number of shares purchasable shall be adjusted as provided
in Section 4(a) above.

 

“Additional
Shares” shall mean any shares of Common Stock issued after the date of this Warrant, other than (i) shares of Common Stock
issued upon exercise or conversion of options, warrants, preferred stock or other rights to acquire Common Stock outstanding as
of the date of this Warrant; and (ii) options or warrants, including shares of Common Stock issued upon exercise thereof, or shares
of Common Stock granted in the future to employees, directors or consultants of the Company pursuant to the Company’s stock
option plan and other equity incentive plans now in effect or duly adopted in the future. “Effective Price” shall
mean the price per share for Additional Shares, determined by dividing the total number of Additional Shares issued or sold, or
deemed to have been issued or sold by the Company under Section 4(f), into the aggregate consideration received, or deemed to
have been received by the Company for such issue or sale under such Section 4(f) for such Additional Shares.

 

(f)
For the purpose of paragraph (e) above, the following provisions shall be applicable:

 

(i)
If at any time on or after the date of this Warrant the Company shall issue or sell any evidences of indebtedness, shares of capital
stock or other securities that are at any time, directly or indirectly, convertible into or exchangeable for Additional Shares
(“Convertible Securities”), there shall be determined as of the date of issue the Effective Price per share for which
Additional Shares are issuable upon the conversion or exchange thereof, such determination to be made by dividing (x) the total
amount received or receivable by the Company as consideration for the issue or sale of such Convertible Securities, plus the minimum
aggregate amount of additional consideration, if any, payable to the Company upon the conversion or exchange thereof, by (y) the
maximum number of Additional Shares issuable upon conversion or exchange of all of such Convertible Securities; and such issue
or sale shall be deemed to be an issue or sale for cash (as of the date of issue or sale of such Convertible Securities) of such
maximum number of Additional Shares at the price per share so determined.

 

If
such Convertible Securities shall by their terms provide for an increase or increases, with the passage of time, in the amount
of additional consideration, if any, payable to the Company, or in the rate of exchange, upon the conversion or exchange thereof
the adjusted Exercise Price shall, forthwith upon any such increase becoming effective, be readjusted (but to no greater extent
than originally adjusted) to reflect the same.

 

If
any rights of conversion or exchange evidenced by such Convertible Securities shall expire without having been exercised, any
adjusted Exercise Price shall forthwith be readjusted to be the adjusted Exercise Price which would have been in effect had an
adjustment been made on the basis that the only Additional Shares issued or sold were those actually issued upon the conversion
or exchange of such Convertible Securities, and that they were issued or sold for the consideration actually received by the Company
upon such conversion or exchange, plus the consideration, if any, actually received by the Company for the issue or sale of such
Convertible Securities as were actually converted or exchanged.

 

    	 

    	 

    

 

(ii)
If at any time on or after the date of this Warrant the Company shall grant any rights, warrants or options to subscribe for,
purchase or otherwise acquire Additional Shares, there shall be determined as of the date of issue the Effective Price per share
for which Additional Shares are issuable upon the exercise of such rights, warrants or options, such determination to be made
by dividing (x) the total amount, if any, received or receivable by the Company as consideration for the granting of such rights
or options, plus the minimum aggregate amount of additional consideration payable to the Company upon the exercise of such rights
or options, by (y) the maximum number of Additional Shares issuable upon the exercise of such rights or options; and the granting
of such rights, warrants or options shall be deemed to be an issue or sale for cash (as of the date of the granting of such rights,
warrants or options) of such maximum number of Additional Shares at the price per share so determined.

 

If
such rights, warrants or options shall by their terms provide for an increase or increases, with the passage of time, in the amount
of additional consideration payable to the Company upon the exercise thereof, the adjusted Exercise Price shall, forthwith upon
any such increase becoming effective, be readjusted (but to no greater extent than originally adjusted) to reflect the same.

 

If
any such rights, warrants or options shall expire without having been exercised, any adjusted Exercise Price shall forthwith be
readjusted to be the adjusted Exercise Price which would have been in effect had an adjustment been made on the basis that the
only Additional Shares so issued or sold were those actually issued or sold upon the exercise of such rights, warrants or options
and that they were issued or sold for the consideration actually received by the Company upon such exercise, plus the consideration,
if any, actually received by the Company for the granting of all such rights, warrants or options, whether or not exercised.

 

(iii)
If at any time on or after the date of this Warrant the Company shall grant any rights, warrants or options to subscribe for,
purchase or otherwise acquire Convertible Securities, there shall be determined as of the date of issue the Effective Price per
share for which Additional Shares are issuable upon the exercise of such rights, warrants or options for such Convertible Securities,
such determination to be made by dividing (x) the total amount, if any, received or receivable by the Company as consideration
for the granting of such rights, warrants or options, plus the minimum aggregate amount of additional consideration payable to
the Company upon the exercise of such rights, warrants or options, by (y) the maximum number of Additional Shares issuable upon
the exercise of such rights, warrants or options; and the granting of such rights, warrants or options shall be deemed to be an
issue or sale for cash (as of the date of the granting of such rights, warrants or options) of such maximum number of Additional
Shares at the price per share so determined.

 

If
such rights, warrants or options for Convertible Securities shall by their terms provide for an increase or increases, with the
passage of time, in the amount of additional consideration payable to the Company upon the exercise thereof, any adjusted Exercise
Price shall, forthwith upon any such increase becoming effective, be readjusted (but to no greater extent than originally adjusted)
to reflect the same.

 

If
any such rights, warrants or options for Convertible Securities shall expire without having been exercised, the adjusted Exercise
Price shall forthwith be readjusted to be the adjusted Exercise Price which would have been in effect had an adjustment been made
on the basis that the only Convertible Securities so issued or sold were those actually issued or sold upon the exercise of such
rights, warrants or options and that they were issued or sold for the consideration actually received by the Company upon such
exercise plus the consideration, if any, actually received by the Company for the granting of all such rights, warrants or options,
whether or not exercised.

 

(iv)
Upon any issuance or sale for a consideration other than cash, or a consideration part of which is other than cash, of any Additional
Shares or Convertible Securities or any rights, warrants or options to subscribe for, purchase or otherwise acquire any Additional
Shares or Convertible Securities, the amount of the consideration other than cash received by the Company shall be deemed to be
the fair value of such consideration as determined in good faith by the Company’s Board of Directors. In case any Additional
Shares or Convertible Securities or any rights, warrants or options to subscribe for, purchase or otherwise acquire any Additional
Shares or Convertible Securities shall be issued or sold together with other stock or securities or other assets of the Company
for a consideration that covers two or more thereof, the consideration for the issue or sale of such Additional Shares or Convertible
Securities or such rights, warrants or options shall be deemed to be the portion of such consideration allocated thereto in good
faith by the Company’s Board of Directors.

 

(v)
Following each computation or readjustment of an adjusted Exercise Price as provided above in this Section 4, the new adjusted
Exercise Price shall remain in effect until a further computation or readjustment thereof is required by this Section 4.

 

    	 

    	 

    

 

(g)
Upon any adjustment of the Exercise Price, then and in each such case, the Company shall promptly give written notice thereof,
by first-class mail, postage prepaid, addressed to the holder of this Warrant at the address of such holder as shown on the books
of the Company, which notice shall state the Exercise Price resulting from such adjustment and the increase or decrease, if any,
in the number of shares purchasable at such price upon the exercise of this Warrant, setting forth in reasonable detail the method
of calculation and the facts upon which such calculation is based.

 

(h)
In the event of any taking by the Company after the date hereof of a record of the holders of any class of securities for the
purpose of determining the holders thereof who are entitled to receive any dividend (other than a cash dividend which is the same
as cash dividends paid in previous quarters) or other distribution, any capital reorganization of the Company, any reclassification
or re-capitalization of the Company’s capital stock, any consolidation or merger with or into another Company, any transfer
of all or substantially all of the assets of the Company or any dissolution, liquidation or winding up of the Company, the Company
shall endeavor to mail to the Warrant holder at least twenty (20) days prior to the date specified for the taking of a record,
a notice specifying the date on which any such record is to be taken for the purpose of such dividend or distribution or any of
the other events listed above.

 

(i)
No fractional shares of Common Stock shall be issued upon the exercise of this Warrant. In lieu of any fractional share to which
any holder would otherwise be entitled upon exercise of this Warrant, the Company shall pay cash equal to such fraction multiplied
by the then effective Exercise Price.

 

5.
Common Stock. As used herein, the term “Common Stock” shall mean and include the Company’s presently
authorized shares of Common Stock and shall also include any capital stock of any class of the Company hereafter authorized that
shall not be limited to fixed sum or percentage of par value in respect of the rights of the holders thereof to participate in
dividends or in the distribution of assets upon the voluntary or involuntary liquidation, dissolution or winding up of the Company;
provided that the shares purchasable pursuant to this Warrant shall include shares designated as Common Stock of the Company on
the date of original issue of this Warrant or, in the case of any reorganization, reclassification, consolidation or merger provided
for in Section 4(c) above, the stock, securities or assets provided for in such paragraph.

 

6.
No Voting Rights. This Warrant shall not entitle the holder hereof to any voting rights or other rights as a stockholder
of the Company.

 

7.
Cashless Exercise of Warrant. At the option of the holder of this Warrant, this Warrant may be exercised by means of a
“cashless exercise”, by delivering to the Company a written notice of cashless exercise of this Warrant, in which
event the Company shall issue to the holder of this Warrant the number of Shares determined as follows:

 

X
= Y {(A-B)/A}

 

where:

 

X
= the number of Shares to be issued to the holder of this Warrant.

 

Y
= the number of Shares with respect to which this Warrant is being exercised.

 

A
= the Fair Market Value on the Exercise Date.

 

B
= the Exercise Price.

 

Fair
Market Value shall be determined (i) by reference to the current market price based upon the last sales price, or bid price if
there was no sale, if the Common Stock is publicly traded or (ii) by the Board of Directors of the Company acting in good faith
if the Common Stock is not publicly traded, of a single share of Common Stock, determined in each case as of the close of business
on the date of exercise of the Warrant. All other provisions of the Warrant shall apply to any such cashless exercise of the Warrant
pursuant to the terms of this Section 7. In the event this Warrant shall not have been exercised by the close of business on the
expiration date of this Warrant, then it shall be deemed that the holder of this Warrant shall have exercised its right to exercise
this Warrant on a cashless basis as set forth in this Section 7 as of the date of the expiration of this Warrant.

 

8.
Miscellaneous.

 

(a)
This Warrant and all rights hereunder are transferable, in whole or in part, at the principal office of the Company by the holder
hereof in person or by duly authorized attorney, upon surrender of the Assignment form (attached hereto) properly completed and
endorsed. Each holder of this Warrant, by taking or holding the same, consents and agrees that the Company may treat the registered
holder hereof as the owner for all purposes.

 

(b)
This Warrant shall be governed by and construed in accordance with the laws of the State of Arizona.

 

    	 

    	 

    

 

FORM
OF ASSIGNMENT

(to be signed only upon assignment)

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ___________________ this Warrant, and appoints the Secretary
of the Company or other authorized officer to transfer this Warrant on the books of the Company with the full power of substitution
in the premises.

 

Dated:___________________

 

In
the presence of:

 

	 	Signature:__________________________________
	 	Note:
    The signature must conform in all respects to the name of the holder as written on the face of this Warrant without alteration,
    enlargement or any change whatsoever, and the signature must be guaranteed in the usual manner.

 

    	 

    	 

    

 

SUBSCRIPTION
FORM

 

To
be Executed by the Holder of this Warrant if such Holder

Desires
to Exercise this Warrant in Whole or in Part:

 

	To:	Qualigen
    Therapeutics, Inc. (the “Company”)

 

The
undersigned ___________________

 

[Please
insert Social Security or other identifying number of Subscriber:

 

_________________________]

 

hereby
irrevocably elects to exercise the right of purchase represented by this Warrant for, and to purchase thereunder, ___________________
shares of the Common Stock provided for therein and tenders payment herewith to the order of the Company in the amount of $___________________,
such payment being made as provided on the face of this Warrant.

 

The
undersigned requests that book-entry positions for such shares of Common Stock be issued as follows:

 

	Name:	________________________________________________
	 	 
	Address:	________________________________________________
	 	 

        ________________________________________________

        

 

and,
if such number of shares of Common Stock shall not be all the shares of Common Stock purchasable hereunder, that a new Warrant
for the balance remaining of the shares of Common Stock purchasable under this Warrant be registered in the book-entry position
of the undersigned.

 

Dated:_____________________________

 

	 	Signature:__________________________________
	 	Note:
    The signature must conform in all respects to the name of the holder as written on the face of this Warrant without alteration,
    enlargement or any change whatsoever.Exhibit
4.14

 

THE
SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER EITHER THE SECURITIES ACT OF 1933 OR APPLICABLE BLUE SKY
LAWS, AND ARE SUBJECT TO CERTAIN INVESTMENT REPRESENTATIONS. THESE SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE OR TRANSFERRED
IN THE ABSENCE OF AN EFFECTIVE REGISTRATION UNDER THE SECURITIES ACT OF 1933 AND SUCH APPLICABLE BLUE SKY LAWS, OR AN OPINION
OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

QUALIGEN,
INC.

 

WARRANT
TO PURCHASE

SERIES
C CONVERTIBLE PREFERRED STOCK

 

__________
__, 20__

 

THIS
CERTIFIES THAT, for good and valuable consideration received, ___________, (“Employee”) or any person to whom this
Warrant may be transferred (in compliance with the assignment restrictions hereof) and who has become a registered holder of this
Warrant, is entitled to subscribe for and purchase from Qualigen, Inc., a Delaware corporation (the “Company”),
______ fully paid and non-assessable shares of the Series C Convertible Preferred Stock, $0.01 par value per share (“Series
C Preferred Stock”), of the Company, at a Warrant exercise price of $____ per share (the “Exercise Price”).

 

This
Warrant is fully vested and may be exercised in whole or in part at any time or from time to time until 5:00 p.m., San Diego,
California time, on __________ __, 20__ the date that is ten (10) years from the
date of this Warrant.

 

This
Warrant is subject to the following provisions, terms and conditions.

 

1.
Exercise. Subject to the vesting provisions set forth above, if any, the rights represented by this Warrant may be exercised
by the holder hereof, in whole or in part, by written notice of exercise delivered to the Company and by the surrender of this
Warrant (properly endorsed, if required) at the principal office of the Company and upon payment to it by check of the aggregate
Exercise Price for such shares.

 

2.
Issuance of Series C Preferred Stock. The Company agrees that the shares of Series C Preferred Stock purchased hereby shall
be and are deemed to be issued to the holder hereof as the record owner of such shares as of the close of business on the date
on which this Warrant shall have been surrendered and payment made for such shares as aforesaid. Certificates for the shares of
Series C Preferred Stock so purchased shall be promptly delivered to the holder hereof and in no event later than five (5) business
days after the rights represented by this Warrant shall have been so exercised, and, unless this Warrant has expired, a new Warrant
representing the number of shares of Series C Preferred Stock, if any, with respect to which this Warrant shall not then have
been exercised shall also be delivered to the holder hereof within such time.

 

3.
Covenants of Company. The Company covenants and agrees that all shares of Series C Preferred Stock that may be issued upon
the exercise of the rights represented by this Warrant will, upon issuance, be duly authorized and issued, fully paid and non-assessable,
and free from all taxes, liens and charges with respect to the issue thereof. The Company further covenants and agrees that during
the period within which the rights represented by this Warrant may be exercised, the Company will at all times have authorized,
and reserved for the purpose of issue or transfer upon exercise of the subscription rights evidenced by this Warrant, a sufficient
number of shares of its Series C Preferred Stock and Common Stock to provide for the exercise of the rights represented by this
Warrant and the conversion of any Series C Preferred Stock received on exercise or conversion of this Warrant.

 

4.
Anti-dilution Adjustments. The above provisions are, however, subject to the following:

 

(a)
In the event the outstanding shares of Series C Preferred Stock shall be subdivided (split), or combined (reverse split), by reclassification
or otherwise, or in the event of any dividend or other distribution payable on the Series C Preferred Stock in shares of Series
C Preferred Stock, the applicable Exercise Price in effect immediately prior to such subdivision, combination, dividend or other
distribution shall, concurrently with the effectiveness of such subdivision, combination, dividend or other distribution, be proportionately
adjusted.

 

    	 

    	 

    

 

(b)
If any capital reorganization or reclassification of the capital stock of the Company, or consolidation or merger of the Company
with another corporation, or the sale of all or substantially all of the Company’s assets to another corporation shall be
effected in such a way that holders of Series C Preferred Stock shall be entitled to receive stock, securities or assets with
respect to or in exchange for shares of Series C Preferred Stock (such stock, securities or assets being hereinafter referred
to as “substituted property”) with respect to or in exchange for such Series C Preferred Stock, then, as a
condition of such reorganization, reclassification, consolidation, merger or sale, the holder hereof shall have the right to purchase
and receive upon the basis and upon the terms and conditions specified herein and in lieu of the shares of the Series C Preferred
Stock of the Company immediately theretofore purchasable and receivable upon the exercise of this Warrant, such substituted property
as may be issued or payable with respect to or in exchange for a number of outstanding shares of such Series C Preferred Stock
equal to the number of shares of such stock immediately theretofore purchasable and receivable upon the exercise of this Warrant
had such reorganization, reclassification, consolidation, merger or sale not taken place, and in any such case appropriate provision
shall be made with respect to the rights and interests of the holder of this Warrant to the end that the provisions hereof (including
without limitation provisions for adjustments of the Exercise Price and of the number of shares purchasable upon the exercise
of this Warrant) shall thereafter be applicable, as nearly as may be practicable, in relation to any substituted property thereafter
purchasable and receivable upon the exercise of this Warrant.

 

(c)
In the event the Company at any time makes, or fixes a record date for the determination of holders of Series C Preferred Stock
entitled to receive, a dividend or other distribution payable in securities of the Company (other than dividends or distributions
described in Section 4(a) of this Warrant), then and in each such event thereafter the holder of this Warrant upon the exercise
thereof will be entitled to receive the number of shares of Series C Preferred Stock purchased at the Exercise Price then in effect,
and, in addition and without payment therefor, the amount of securities of the Company that such holder would have received had
such holder exercised this Warrant on the date of such event.

 

(d)
In the event of any taking by the Company of a record of the holders of any class of securities for the purpose of determining
the holders thereof who are entitled to receive any dividend (other than a cash dividend which is the same as cash dividends paid
in previous quarters) or other distribution, any capital reorganization of the Company, any reclassification or re-capitalization
of the Company’s capital stock, any consolidation or merger with or into another Company, any transfer of all or substantially
all of the assets of the Company or any dissolution, liquidation or winding up of the Company, the Company shall mail to the Warrant
holder at least twenty (20) days prior to the date specified for the taking of a record, a notice specifying the date on which
any such record is to be taken for the purpose of such dividend or distribution or any of the other events listed above.

 

(e)
No fractional shares of Series C Preferred Stock shall be issued upon the exercise of this Warrant. In lieu of any fractional
share to which any holder would otherwise be entitled upon exercise of this Warrant, the Company shall pay cash equal to such
fraction multiplied by the then effective Exercise Price.

 

5.
Series C Preferred Stock. As used herein, the term “Series C Preferred Stock” shall mean and include
the Company’s presently authorized shares of Series C Preferred Stock. However, the shares purchasable pursuant to this
Warrant shall include shares designated as Series C Preferred Stock of the Company on the date of original issue of this Warrant
or, in the case of any reorganization, reclassification, consolidation or merger provided for in paragraph 4(b) above, the stock,
securities or assets provided for in such paragraph.

 

6.
No Voting Rights. This Warrant shall not entitle the holder hereof to any voting rights or other rights as a stockholder
of the Company.

 

7.
Transfer of Warrant or Resale of Series C Preferred Stock.

 

(a)
The holder of this Warrant, by acceptance hereof, acknowledges that neither this Warrant nor any of the shares of Series C Preferred
Stock issuable upon exercise hereof have been registered under the Securities Act of 1933 (the “Securities Act”)
or any applicable state securities or blue sky laws and that this Warrant or such shares may only be transferred in accordance
with this Section 7. The holder of this Warrant, by acceptance hereof, represents that it has acquired this Warrant for investment
and not with a view to distribution of this Warrant or the shares of Series C Preferred Stock issuable upon exercise hereof within
the meaning of the Securities Act and the rules and regulations thereunder.

 

    	 

    	 

    

 

(b)
The holder of this Warrant shall have the right to transfer all or any portions the Warrant to accredited affiliates and shall
notify the Company in writing of any such transfer(s). On any other proposed transfers, the holder of this Warrant, by acceptance
hereof, agrees to give written notice to the Company before exercising or transferring this Warrant, in whole or in part, or transferring
any shares of Series C Preferred Stock issued upon the exercise hereof, of such holder’s intention to do so, describing
briefly the manner of any proposed exercise or transfer. If in the opinion of counsel for the transferor reasonably acceptable
to the Company the proposed exercise or transfer may be effected without registration or qualification (under federal and any
applicable state securities or blue sky laws), the Company, as promptly as practicable, shall notify such holder of such opinion,
whereupon such holder shall be entitled to exercise or transfer this Warrant or to dispose of the shares of Series C Preferred
Stock received upon the previous exercise of this Warrant, all in accordance with the terms of the notice delivered by such holder
to the Company, provided that an appropriate legend may be endorsed on this Warrant or the certificates for shares of Series C
Preferred Stock issued upon the exercise hereof respecting restrictions upon transfer thereof necessary or advisable in the opinion
of such counsel to prevent further transfers which would be in violation of Section 5 of the Securities Act and applicable state
securities or blue sky laws. If in the opinion of such counsel, the proposed exercise or transfer of this Warrant or of the shares
of Series C Preferred Stock issued upon exercise hereof (as described in the written notice given pursuant to this Section 7)
may not be effected without registration or qualification of this Warrant or such shares, the Company shall promptly give written
notice thereof to the holder hereof, and such holder will limit its activities in respect to such as, in the opinion of such counsel,
are permitted by law.

 

8.
Registration Rights. The holder of this Warrant shall have certain registration rights under the terms of this Warrant
with respect to the shares of Common Stock or shares of any other securities issued or issuable upon conversion of the Series
C Preferred Stock issuable upon exercise of this Warrant as provided in the Registration Rights Agreement.

 

9.
Converted Warrant. At its option, and subject to the vesting provisions set forth above, if any, Employee may request pursuant
to this Section 9 that the Company exchange this Warrant for a particular number of shares of Series C Preferred Stock subject
to the Warrant (the “Converted Warrant Shares”) by delivering to the Company, without payment by Employee of
the Exercise Price, that number of shares of Series C Preferred Stock equal to the quotient obtained by dividing the Net Value
(as hereinafter defined) of the Converted Warrant Shares by the Fair Market Value (as determined (i) by reference to the current
market price based upon the last sales price, or bid price if there was no sale, if the shares of Series C Preferred Stock is
publicly traded or (ii) by the Board of Directors acting in good faith if the Series C Preferred Stock is not publicly traded)
of a single share of Series C Preferred Stock, determined in each case as of the close of business on the date of exercise of
the Warrant. The “Net Value” of the Converted Warrant Shares shall be determined by subtracting the aggregate
Exercise Price of the Converted Warrant Shares from the aggregate Fair Market Value of the Converted Warrant Shares. All other
provisions of the Warrant shall apply to any such exchange of the Warrant pursuant to the terms of this Section 9.

 

10.
Change of Control. Notwithstanding anything in this Agreement, if there is a change in control of the Company in connection
with an acquisition of all or substantially all of the Company, its business, stock or assets by a third person or entity, this
Warrant shall immediately become fully vested and immediately exercisable. Notwithstanding anything in this Agreement, if the
holder of this Warrant is an employee with the Company and employment is terminated, only the fully vested portion of the Warrant
at the time of termination of employment will be exercisable. The unvested portion will immediately and completely terminate and
be of no further force or effect at the time of termination of employment.

 

11.
Miscellaneous.

 

(a)
Subject to the provisions of section 7 hereof, this Warrant and all rights hereunder are transferable, in whole or in part, at
the principal office of the Company by the holder hereof in person or by duly authorized attorney, upon surrender of this Warrant
properly endorsed. Each holder of this Warrant, by taking or holding the same, consents and agrees that the bearer of this Warrant,
when endorsed, may be treated by the Company and all other persons dealing with this Warrant as the absolute owner hereof for
any purpose and as the person entitled to exercise the rights represented by this Warrant, or to the transfer hereof on the books
of the Company, any notice to the contrary notwithstanding; but until such transfer on such books, the Company may treat the registered
holder hereof as the owner for all purposes.

 

(b)
This Warrant is exchangeable, upon the surrender hereof by the holder hereof at the principal office of the Company, for new Warrants
of like tenor representing in the aggregate the right to subscribe for and purchase the number of shares of Series C Preferred
Stock that may be subscribed for and purchased hereunder, each of such new Warrants to represent the right to subscribe for and
purchase such number of shares as shall be designated by said holder hereof at the time of such surrender.

 

(c)
This Warrant shall be governed by and construed in accordance with the laws of the State of California.

 

IN
WITNESS WHEREOF, the Company has caused this Warrant to be signed by its duly authorized officer and to be dated as of the date
set forth above.

 

	 	QUALIGEN, INC.
	 	 	 
	 	By	 
	 	 	Michael
    Poirier
	 	 	President
    & CEO

 

    	 

    	 

    

 

FORM
OF ASSIGNMENT

(To Be Signed Only Upon Assignment)

 

FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto ___________________ this Warrant, and appoints the Secretary
of the Company or other authorized officer to transfer this Warrant on the books of the Company with the full power of substitution
in the premises.

 

Dated:___________________

 

In
the presence of:

 

	 	Signature:__________________________________
	 	Note:
    The signature must conform in all respects to the name of the holder as written on the face of this Warrant without alteration,
    enlargement or any change whatsoever, and the signature must be guaranteed in the usual manner.

 

    	 

    	 

    

 

SUBSCRIPTION
FORM

 

To
be Executed by the Holder of this Warrant if such Holder

Desires
to Exercise this Warrant in Whole or in Part:

 

	To:	Qualigen,
    Inc. (the “Company”)

 

The
undersigned ___________________

 

Please
insert Social Security or other identifying number of Subscriber:

 

_________________________

 

hereby
irrevocably elects to exercise the right of purchase represented by this Warrant for, and to purchase thereunder, ___________________
shares of the Series C Preferred Stock provided for therein and tenders payment herewith to the order of the Company in the amount
of $___________________, such payment being made as provided on the face of this Warrant.

 

The
undersigned requests that certificates for such shares of Series C Preferred Stock be issued as follows:

 

	Name:	________________________________________________
	 	 
	Address:	________________________________________________
	 	 

        ________________________________________________

         

	Deliver
    to:	________________________________________________
	 	 
	Address:	________________________________________________

 

and,
if such number of shares of Series C Preferred Stock shall not be all the shares of Series C Preferred Stock purchasable hereunder,
that a new Warrant for the balance remaining of the shares of Series C Preferred Stock purchasable under this Warrant be registered
in the name of, and delivered to, the undersigned at the address stated above.

 

Dated:_____________________________

 

	 	Signature:__________________________________
	 	Note:
    The signature must conform in all respects to the name of the holder as written on the face of this Warrant without alteration,
    enlargement or any change whatsoever.

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