STOCK PURCHASE WARRANTPower Efficiency Corp • August 21st, 2009 • Electrical industrial apparatus
THIS CERTIFIES that, for value received, [________________] (the “Holder”), is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date hereof (the “Initial Exercise Date”) and on or prior to the close of business on [ ], 2013 (the “Termination Date”) but not thereafter, to subscribe for and purchase from POWER EFFICIENCY CORPORATION, a corporation incorporated in the State of Delaware (the “Company”), up to [_________] shares (the “Warrant Shares”) of common stock, $0.001 par value, of the Company (the “Common Stock”). The purchase price of one share of Common Stock (the “Exercise Price”) under this Warrant shall be $0.40. The Exercise Price and the number of shares for which the Warrant is exercisable shall be subject to adjustment as provided herein. In the event of any conflict between the terms of this Warrant and the Securities Purchase Agreement dated as of [month, date], 2009 pursuant to which
SECURITIES PURCHASE AGREEMENTSecurities Purchase Agreement • August 21st, 2009 • Power Efficiency Corp • Electrical industrial apparatus • Delaware
Each undersigned investor set forth on the Schedule of Investors attached as Annex I hereto (each, an “Investor” and, collectively, the “Investors”), hereby confirms its agreement with you as follows:
