Common use of Net Issuance Clause in Contracts

Net Issuance. In lieu of payment of the Exercise Price described in Section 2(a), the Holder may elect to receive, without the payment by the Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion to the Company, with the net issue election notice annexed hereto duly executed, at the office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: where: X = Y (A-B) ------- A X = the number of shares to be issued to the Holder pursuant to this Section 2. Y = the number of shares covered by this Warrant in respect of which the net issuance election is made pursuant to this Section 2. A = the fair market value of one share of Common Stock, as determined in accordance with the provisions of this Section 2. B = the Exercise Price in effect under this Warrant at the time the net issuance election is made pursuant to this Section 2. For purposes of this Section 2, the "FAIR MARKET VALUE" per share of the Company's Common Stock shall mean:

Net Issuance. In lieu of payment of the Exercise Price described in Section 2(a), the Holder may elect to receive, without the payment by the Holder of any additional consideration, shares Shares equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion to the Company, with the net issue election notice annexed hereto (the “Net Issuance Election Notice”) duly executed, at the office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock Shares as is computed using the following formula: where: X = Y (A-B) ------- A X = the number of shares Shares to be issued to the Holder pursuant to this Section 2. Y = the number of shares Shares covered by this Warrant in respect of which the net issuance election is made pursuant to this Section 2. A = the fair market value of one share of Common StockShare, as determined in accordance with the provisions of this Section 2. B = the Exercise Price in effect under this Warrant at the time the net issuance election is made pursuant to this Section 2. For purposes of this Section 2, the "FAIR MARKET VALUE" “fair market value” per share of the Company's Common Stock Share shall mean:

Net Issuance. In lieu of payment of the Exercise Price described in Section 2(a)2.1, the Holder may elect to receive, without the payment by the Holder of any additional consideration, shares Shares equal to the value of this Warrant or any portion hereof hereof, by the surrender of this Warrant or such portion to the Company, with the net issue election notice annexed attached hereto (the “Net Issuance Election”) duly executed, at the office principal executive offices of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock Shares as is computed using the following formula: where: X = Y (A-B) ------- A X = the number of shares Shares to be issued to the Holder pursuant to this Section 2. Y = the number of shares Shares covered by this Warrant in respect of which the net issuance election is made pursuant to this Section 2. A = the “fair market value value” of one share of Common StockShare, as determined in accordance with the provisions of this Section 2. B = the Exercise Price in effect under this Warrant at the time the net issuance election is made pursuant to this Section 2. For purposes 1 Insert date that is fifth anniversary of this Section 2, the "FAIR MARKET VALUE" per share date of the Company's Common Stock shall mean:issuance.

Net Issuance. In lieu of payment of the Exercise Price described in Section 2(a), the Holder may elect to receive, without the payment by the Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion to the Company, with the net issue election 2 notice annexed hereto duly executed, at the office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock as is computed using the following formula: where: X = Y (A-B) ------- ------ A X = the number of shares to be issued to the Holder pursuant to this Section 2. Y = the number of shares covered by this Warrant in respect of which the net issuance election is made pursuant to this Section 2. A = the fair market value of one share of Common Stock, as determined in accordance with the provisions of this Section 2. B = the Exercise Price in effect under this Warrant at the time the net issuance election is made pursuant to this Section 2. For purposes of this Section 2, the "FAIR MARKET VALUEfair market value" per share of the Company's Common Stock shall mean:

Net Issuance. In lieu of payment of the Exercise Price described in Section 2(a)) hereof, the Holder may elect to receive, without the payment by the Holder of any additional consideration, shares equal to the value (as determined below) of this Warrant or any portion hereof by the surrender of this Warrant or such portion to the Company, with the net issue election notice Net Issuance Election Notice annexed hereto (the "NET ISSUANCE ELECTION") duly executed, at the office principal executive offices of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock Shares as is computed using the following formula: where: X = Y (A-B) ------- A X = the number of shares Shares to be issued to the Holder pursuant to this Section 2. Y = the number of shares Shares covered by this Warrant in respect of which the net issuance election Net Issuance Election is made pursuant to this Section 22(b). A = the fair market value of one share of Common Stock, as determined in accordance with the provisions of this Section 22(b). B = the Exercise Price in effect under this Warrant at the time the net issuance election Net Issuance Election is made pursuant to this Section 22(b). For purposes of this Section 22(b), the "FAIR MARKET VALUEfair market value" per share of the Company's Common Stock shall mean:

Net Issuance. In lieu of payment of the Exercise Price described in Section 2(a), the Holder may elect to receive, without the payment by the Holder of any additional consideration, shares equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion to the Company, with the net issue election notice annexed hereto Notice of Exercise duly executedexecuted and electing the cashless exercise option, at the office principal executive offices of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock Shares as is computed using the following formula: where: X = Y (A-B) ------- A X = the number of shares Shares to be issued to the Holder pursuant to this Section 2. Y = the number of shares Shares covered by this Warrant in respect of which the net issuance election is made pursuant to this Section 2. A = the fair market value of one share of Common StockShare, as determined in accordance with the provisions of this Section 2. B = the Exercise Price in effect under this Warrant at the time the net issuance election is made pursuant to this Section 2. For purposes of this Section 2, the "FAIR MARKET VALUE" “fair market value” per share of the Company's Common Stock Share shall mean:

Net Issuance. In lieu of payment of the Exercise Price described in Section 2(a)3.1, the Holder may elect to receive, without the payment by the Holder of any additional consideration, shares Shares equal to the value of this Warrant or any portion hereof by the surrender of this Warrant or such portion to the Company, with the net issue election notice annexed hereto (the "NET ISSUANCE ELECTION NOTICE") duly executed, at the office of the Company. Thereupon, the Company shall issue to the Holder such number of fully paid and nonassessable shares of Common Stock Shares as is computed using the following formula: where: X = Y (A-B) ------- A X = the number of shares Shares to be issued to the Holder pursuant to this Section 23. Y = the number of shares Shares covered by this Warrant in respect of which the net issuance election is made pursuant to this Section 23. A = the fair market value of one share of Common StockShare, as determined in accordance with the provisions of this Section 23. B = the Exercise Price in effect under this Warrant at the time the net issuance election is made pursuant to this Section 23. For purposes of this Section 23, the "FAIR MARKET VALUEfair market value" per share of the Company's Common Stock Share shall mean: