FORM OF WARRANT] WORKHORSE GROUP INC. Warrant To Purchase Common StockWorkhorse Group Inc. • September 14th, 2017 • Motor vehicles & passenger car bodies • New York
Workhorse Group Inc., a company organized under the laws of Nevada (the “Company”), hereby certifies that, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, [HOLDER], the registered holder hereof or its permitted assigns (the “Holder”), is entitled, subject to the terms set forth below, to purchase from the Company, at the Exercise Price (as defined below) then in effect, at any time or times on or after [ ] (the “Initial Exercisability Date”), but not after 11:59 p.m., New York time, on the Expiration Date, (as defined below), ______________ (_____________) fully paid nonassessable shares of Common Stock (as defined below), subject to adjustment as provided herein (the “Warrant Shares”). Except as otherwise defined herein, capitalized terms in this Warrant to Purchase Common Stock (including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement hereof, this “Warrant”), shall have the meanings set forth in Sec
UNDERWRITING AGREEMENTUnderwriting Agreement • September 14th, 2017 • Workhorse Group Inc. • Motor vehicles & passenger car bodies • New York
Cowen and Company, LLC as Representative of the several Underwriters named in Schedule I hereto c/o Cowen and Company, LLC
