Common use of Additional Warrants Clause in Contracts

Additional Warrants. Upon the exercise of the First Option set forth in Section 3.1, the Company shall issue to Purchaser warrants to purchase a number of Ordinary Shares equal to 10% of the then current Accreted Principal Amount divided by 0.3000 times the 20-trading day volume weighted average price of the ADSs on the New York Stock Exchange (the “VWAP”) immediately preceding the First Option exercise date (the “First Option VWAP”), with a three year term and an exercise price of 0.3000 times the First Option VWAP (the “First Option Warrants”). Upon the exercise of the Second Option set forth in Section 3.1, (i) the Company shall issue to Purchaser warrants to purchase a number of Ordinary Shares equal to 15% of the then current Accreted Principal Amount divided by 0.3000 times the VWAP immediately preceding the Second Option exercise date (the “Second Option VWAP”), with a three year term and an exercise price of 0.3000 times the Second Option VWAP (the “Second Option Warrants”) and (ii) the term of the First Option warrants shall be extended by one year. Upon the exercise of the Third Option set forth in Section 3.1, the Company shall issue to Purchaser warrants to purchase a number of Ordinary Shares equal to 20% of the then current Accreted Principal Amount divided by 0.3000 times the VWAP immediately preceding the Third Option Exercise Date (the “Third Option VWAP”), with a three year term and an exercise price of 0.3000 times the Third Option VWAP.

Additional Warrants. Upon the exercise of the First Option set forth in Section 3.1, the Company shall issue to Purchaser warrants to purchase a number of Ordinary Shares equal to 10% of the then current Accreted Principal Amount divided by 0.3000 times the 20-trading day volume weighted average price of the ADSs on the New York Stock Exchange (the “VWAP”) immediately preceding the First Option exercise date (the “First Option VWAP”), with a three year term and an exercise price of 0.3000 times the First Option VWAP (the “First Option Warrants”). Upon the exercise of the Second Option set forth in Section 3.1, (i) the Company shall issue to Purchaser warrants to purchase a number of Ordinary Shares equal to 15% of the then current Accreted Principal Amount divided by 0.3000 times the VWAP immediately preceding the Second Option exercise date (the “Second Option VWAP”), with a three year term and an exercise price of 0.3000 times the Second Option VWAP (the “Second Option Warrants”) and (ii) the term of the First Option warrants shall be extended by one year. Upon the exercise of the Third Option set forth in Section 3.1, the Company shall issue to Purchaser warrants to purchase a number of Ordinary Shares equal to 20% of the then current Accreted Principal Amount divided by 0.3000 times the VWAP immediately preceding the Third Option Exercise Date (the “Third Option VWAP”), with a three year term and an exercise price of 0.3000 times the Third Option VWAP.