SEC Contract Filing

Filing Date: 2023-01-04

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>5
<FILENAME>tm2233765d1_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: justify; margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>WARRANT</U></B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>NEITHER THIS SECURITY NOR THE SECURITIES INTO
WHICH THIS SECURITY IS EXERCISABLE HAS BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY
STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &ldquo;SECURITIES ACT&rdquo;),
AND, ACCORDINGLY, MAY&nbsp;NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT
TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE
WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH
SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>DIGITAL BRANDS GROUP,&nbsp;INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>COMMON STOCK PURCHASE WARRANT</U></B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
 <TR>
 <TD STYLE="text-align: justify; width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrant Shares: </FONT></TD>
 <TD STYLE="text-align: right; width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Original Issue Date: December&nbsp;29, 2022</FONT></TD></TR>
 </TABLE>
<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
COMMON STOCK PURCHASE WARRANT (this &ldquo;<U>Warrant</U>&rdquo;) certifies that, for value received, _________, or its assigns (the &ldquo;<U>Holder</U>&rdquo;)
is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after
the date hereof until </FONT><B>June&nbsp;29, 2023</B> (the &ldquo;<U>Termination Date</U>&rdquo;) but not thereafter, to subscribe for
and purchase from Digital Brands,&nbsp;Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), up to Warrant Coverage Number
(as defined in the Purchase Agreement) of shares of Common Stock (subject to adjustment hereunder, the &ldquo;<U>Warrant Shares</U>&rdquo;).
The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section&nbsp;2(b).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Section&nbsp;1</U></B></FONT><B>.</B>&nbsp;<B><U>Definitions</U>.</B>&nbsp;Capitalized
terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement, dated as
of December&nbsp;29, 2022 between the Company and the original Holders, as amended, modified or supplemented from time to time in accordance
with its terms (the &ldquo;<U>Purchase Agreement</U>&rdquo;).</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Section&nbsp;2</U></B></FONT><B>.</B>&nbsp;<B><U>Exercise</U>.</B></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">a)&nbsp;<U>Exercise
of Warrant</U>. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on
or after the Initial Exercise Date and on or before the Termination Date by delivery to the Company of a duly executed facsimile copy
or PDF copy submitted by e-mail (or e-mail attachment) of the Notice of Exercise in the form annexed hereto as <B><U>Exhibit&nbsp;A</U></B>
(the &ldquo;<U>Notice of Exercise</U>&rdquo;). Within the earlier of (i)&nbsp;two (2)&nbsp;Trading Days and (ii)&nbsp;the number of Trading
Days comprising the Standard Settlement Period (as defined in Section&nbsp;2(d)(i)&nbsp;herein) following the date of exercise as aforesaid,
the Holder shall deliver to the Company the aggregate Exercise Price for the shares specified in the applicable Notice of Exercise by
wire transfer or cashier&rsquo;s check drawn on a United States bank unless the cashless exercise procedure specified in Se