SEC Contract Filing

Filing Date: 2017-10-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>8
<FILENAME>abwn_ex103.htm
<DESCRIPTION>WARRANT TO PURCHASE SHARES
<TEXT>
<html><head><title>abwn_ex103.htm</title></head><body style="text-align:justify;font:10pt TIMES NEW ROMAN;margin:0px 7%"><p style="MARGIN: 0px" align="right"><b>EXHIBIT 10.3</b></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px" align="justify">THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THIS WARRANT AND THE COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THIS WARRANT UNDER SUCH ACT AND ANY APPLICABLE STATE SECURITIES LAW OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE ISSUER THAT SUCH REGISTRATION IS NOT REQUIRED.</p> <p style="MARGIN: 0px" align="justify">&nbsp;</p> <p style="MARGIN: 0px" align="center">Airborne Wireless Network</p> <p style="MARGIN: 0px" align="center">&nbsp;</p> <p style="MARGIN: 0px" align="center">WARRANT TO PURCHASE SHARES OF COMMON STOCK </p> <p style="MARGIN: 0px" align="center">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify"><u>Issuance</u>. In consideration of good and valuable consideration as set forth in the Purchase Agreement (defined below), including without limitation the Purchase Price (as defined in the Purchase Agreement), the receipt and sufficiency of which are hereby acknowledged by Airborne Wireless Network, a Nevada corporation (the &#8220;<b>Company</b>&#8221;), lucas hoppel, its successors and/or registered assigns (the &#8220;<b>Holder</b>&#8221;), is hereby granted the right to purchase at any time on or after the Issue Date (as defined below) until the date which is the last calendar day of the month in which the fifth anniversary of the Issue Date occurs (the &#8220;<b>Expiration Date</b>&#8221;), 18,000 fully paid and nonassessable shares (the &#8220;<b>Warrant Shares</b>&#8221;) of the Company&#8217;s common stock, par value $0.001 per share (the &#8220;<b>Common Stock</b>&#8221;), as such number of Warrant Shares may be adjusted from time to time pursuant to the terms and conditions of this Warrant to Purchase Shares of Common Stock (this &#8220;<b>Warrant</b>&#8221;). This Warrant is being issued pursuant to the terms of that certain Securities Purchase Agreement dated Ocober 3, 2017, to which the Company and the Holder are parties (as the same may be amended from time to time, the &#8220;<b>Purchase Agreement</b>&#8221;).</p> <p style="MARGIN: 0px" align="justify">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">Unless otherwise indicated herein, capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Purchase Agreement.</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">This Warrant was originally issued to the Holder on October 3, 2017 (the &#8220;<b>Issue Date</b>&#8221;).</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">1. <u>Exercise of Warrant</u>.</p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 90px" align="justify">1.1. <u>General</u>.</p> <p style="MARGIN: 0px; TEXT-INDENT: 90px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 135px" align="justify">(a) This Warrant is exercisable in whole or in part at any time and from time to time commencing on the Issue Date and ending on the Expiration Date. Such exercise shall be effectuated by submitting to the Company (either by delivery to the Company or by email or facsimile transmission) a completed and duly executed Notice of Exercise substantially in the form attached to this Warrant as <u>Exhibit A</u> (the &#8220;<b>Notice of Exercise</b>&#8221;). The date such Notice of Exercise is either faxed, emailed or delivered to the Company shall be the &#8220;<b>Exercise Date</b>,&#8221; provided that, if such exercise represents the full exercise of the outstanding balance of the Warrant, the Holder shall tender this Warrant to the Company within five (5) Trading Days thereafter, but only if the Warrant Shares to be delivered pursuant to the Notice of Exercise have been delivered to the Holder as of such date. The Notice of Exercise shall be executed by the Holder and shall indicate (i) the number of Warrant Shares (as defined below) to be issued pursuant to such exercise, and (ii) if applicable (as provided below), whether the exercise is a cashless exercise.</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">For purposes of this Warrant, the term &#8220;<b>Trading Day</b>&#8221; means any day during which the principal market on which the Common Stock is traded (the &#8220;<b>Principal Market</b>&#8221;) shall be open for business.</p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px"> <table id="pagebreak7bdb39d5-ccef-406b-acb1-c284ad2eaa50" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td class="hpbhr">&nbsp;</td></tr> <tr> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">1</td></tr> <tr> <td> <div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr> <tr> <td>&nbsp;</td></tr></table></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 135px" align="justify">(b) To the extent this Warrant is not previously exercised, and if the Market Price of one (1) Share is greater than the Exercise Price, the Holder may elect to receive Warrant Shares, in lieu of a cash exercise, equal to the value of this Warrant determined in the manner described below (or of any portion thereof remaining unexercised) by surrender of this Warrant and a Notice of Exercise, in which event the Company shall issue to Holder a number