Issuance. Company shall issue to Warrant Holder a certificate (“Warrant Certificate”) dated , providing Warrant Holder, and any subsequent assignee or transferee of Warrant Holder, with the right to purchase, at any time, commencing after (“Effective Date”) until the Expiration Date (defined below in [Section 3]), up to one million (1,000,000) restricted shares of common stock of Company (“Warrant Shares”) in the following amounts and at the following exercise prices: # 500,000 shares at per Warrant Share; # 250,000 shares at per Warrant Share; and # 250,000 shares at per Warrant Share. The Warrant Certificate issued hereunder shall be non-cancelable and non-callable by Company.
THIS WARRANT (the “Warrant”) certifies that, for value received, or its assigns (the “Holder”) is entitled, upon the terms and subject to Warrant Holder a certificate (“Warrant Certificate”) dated , providing Warrant Holder,the limitations on exercise and any subsequent assignee or transferee of Warrant Holder, with the right to purchase,conditions hereinafter set forth, at any time, commencingtime on or after (“EffectiveInitial Exercise Date (as defined herein) and on or prior to the close of business on the five year anniversary of the Initial Exercise Date (the “Termination Date”) until the Expiration Date (defined below in [Section 3]but not thereafter, to subscribe for and purchase from , (the “Company”), up to one million (1,000,000) restricted22,500 shares of common stock of CompanyCommon Stock (“Warrant Shares”) in the following amounts and at the following exercise prices: # 500,000 shares athaving an expiration date of per. The purchase price of one Warrant Share; # 250,000 shares at perShare under this Warrant Share; and # 250,000 shares at per Warrant Share. The Warrant Certificate issued hereunder shall be non-cancelable and non-callable by Company.equal to the Exercise Price, as defined in [Section 2(b)].
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