Common use of Warrant Amendment Clause in Contracts

Warrant Amendment. Subject to the terms and conditions of this Agreement, on the Effective Date, the following amendments will be automatically made to each Warrant held by the Note Holder: a) Section 2(b) of each Warrant held by the Note Holder shall be automatically amended to provide that the mandatory call price per share shall be reduced from $3.60 to $___________. b) Section 2(c) of each Warrant held by the Note Holder shall be automatically amended to provide that the exercise price per share shall be reduced from $3.00 to $_______. No other terms of the Warrants are being amended, and the Warrants shall remain otherwise in full force and effect. Initial Note Holder _________ Initial Surna _________