Issuance Date: August 31, 2016 WARRANT FOR THE PURCHASE OF SHARES OF COMMON STOCK OF ASPEN GROUP, INC.Aspen Group, Inc. • September 7th, 2016 • Services-educational services • New York
THIS IS TO CERTIFY that, for value received, Leon G. Cooperman (the “Holder”), is entitled to purchase, subject to the terms and conditions hereinafter set forth, seven hundred fifty thousand (750,000) shares of common stock, par value $0.001 per share (as further detailed in Section 4 of this Warrant, the “Common Stock”), of Aspen Group, Inc., a Delaware corporation (the “Company”), and to receive certificates for the Common Stock so purchased. The exercise price of this Warrant (the “Exercise Price”) is twenty cents ($0.20) per share, subject to adjustment as provided in this Warrant.
Subject: Cooperman Loan to Aspen Group, Inc.Aspen Group, Inc. • September 7th, 2016 • Services-educational services • New York
This will confirm the terms on which I have agreed to loan to Aspen Group, Inc. (the “Company”) up to three million dollars (US$3,000,000) on a revolving basis for up to three (3) years (the “Loan” and my “Commitment”, respectively), as evidenced by a promissory note of even date herewith to be executed and delivered to me by the Company in the form of Annex A hereto (the “Note”). As conditions precedent to the advancement of any funds to the Company by me in respect of the Loan or the Note:
