SEC Contract Filing

Filing Date: 2016-11-21

Document Content:
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<TYPE>EX-10.16
<SEQUENCE>6
<FILENAME>v452672_ex10-16.htm
<DESCRIPTION>EXHIBIT 10.16
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.16</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">NEITHER THIS SECURITY NOR THE SECURITIES
FOR WHICH THIS SECURITY IS EXERCISABLE HAVE 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 NOT BE OFFERED OR SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED 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.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">THE HOLDER OF THIS WARRANT BY ITS ACCEPTANCE
HEREOF AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS WARRANT EXCEPT AS HEREIN PROVIDED AND THE HOLDER OF THIS WARRANT AGREES
THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS WARRANT FOR A PERIOD OF ONE HUNDRED EIGHTY DAYS FOLLOWING THE
EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I) LAIDLAW &amp; COMPANY (UK) LTD., OR (II) A BONA FIDE OFFICER OR PARTNER
OF LAIDLAW &amp; COMPANY (UK) LTD.</P>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>PROTEA
BIOSCIENCES GROUP, INC.</B></FONT></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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 <TD STYLE="width: 60%; padding: 0; font-size: 10pt; text-align: right; text-indent: 0"><FONT STYLE="font-size: 10pt">Warrant No. [___]</FONT></TD>
 <TD STYLE="width: 40%; padding: 0; font-size: 10pt; text-align: right; text-indent: 0"><FONT STYLE="font-size: 10pt">Issue Date: _______ __, 2016</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">THIS COMMON STOCK PURCHASE
WARRANT (the &ldquo;<B><I>Warrant</I></B>&rdquo;) certifies that, for value received, Laidlaw &amp; Company (UK) Ltd. (the &ldquo;<B><I>Holder</I></B>&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 (the &ldquo;<B><I>Initial Exercise Date</I></B>&rdquo;) and on or prior to the close of business on the
three year anniversary of the Initial Exercise Date (the &ldquo;<B><I>Termination Date</I></B>&rdquo;) but not thereafter, to subscribe
for and purchase from Protea Biosciences Group, Inc., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;), up to ______<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>[1]</SUP></FONT>
shares (the &ldquo;<B><I>Warrant Shares</I></B>&rdquo;) of Common Stock. The purchase price of one share of Common Stock under
this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Section 1</U>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>.
For the purposes hereof, in addition to the terms defined elsewhere in this Warrant, (a) capitalized terms not otherwise defined
herein shall have the meanings set forth in the Subscription Agreement by and between the Company and the investors thereto, dated
_______ __, 2016, as may be further amended and/or supplemented from time to time (the &ldquo;<B><I>Subscription Agreement</I></B>&rdquo;)
and (b) the following terms shall have the following meanings:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&ldquo;<B><I>Business
Day</I></B>&rdquo; means any day except any Saturday, any Sunday, any day which shall be a federal legal holiday in the United
States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental
action to close.</P>

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