This Warrant has not been registered under the Securities Act of 1933, as amended (the or otherwise disposed of except pursuant to an effective registration statement or exemption from registration under the foregoing laws. MOBICLEAR INC. WARRANT TO...Mobiclear Inc. • November 14th, 2008 • Telephone & telegraph apparatus • Pennsylvania
FOR VALUE RECEIVED, [name of warrantholder], the registered holder of this Warrant (“Warrantholder”) is entitled to purchase, subject to the provisions of this Warrant, from MOBICLEAR INC., a Pennsylvania corporation (“Company”), at any time on or after [warrant date], and not later than 5:00 p.m., on [warrant expiration date], at an exercise price per share equal to the lesser of (i) the average market closing price for the 10 days preceding the date of this Warrant, or (ii) the Holder-Initiated Conversion Rate or the Company-Initiated Conversion Rate (as defined in the Convertible Promissory Note) at which shares of the Company’s common stock were most recently issued pursuant to the Convertible Promissory Note of even date herewith (the exercise price in effect being herein called the “Warrant Price”), 500,000 shares (“Warrant Shares”) of the Company’s common stock, par value $0.0001 per share (“Common Stock”). The number of Warrant Shares purchasable upon exercise of this Warrant a
