Common use of Representative’s Warrant Clause in Contracts

Representative’s Warrant. The Company hereby agrees to issue to the Representative (and/or its respective designees) on the Closing Date, Warrants to purchase up to an aggregate of ______ shares of Common Stock [7% OF THE NUMBER OF SHARES SOLD IN THE OFFERING] (the “Representative’s Warrants”). The Representative’s Warrants shall be exercisable, in whole or in part, commencing 180 days from the Effective Date and expiring on the three-year anniversary of the Effective Date at an initial exercise price of $____ per share of Common Stock, which is equal to one hundred and twenty five percent (125%) of the initial public offering price of a Unit. The Representative’s Warrants and the shares of Common Stock issuable upon exercise of the Representative’s Warrants are hereinafter referred to collectively as the “Representative’s Securities.”

Representative’s Warrant. The Company hereby agrees to issue to the Representative (and/or its respective designees) on the Closing Date and each Option Closing Date, as the case may be, Warrants to purchase up to an aggregate of ______ shares six percent (6%) of Common Stock [7% OF THE NUMBER OF SHARES SOLD IN THE OFFERING] the Shares issued at such closing (the “Representative’s Warrants”). The Representative’s Warrants shall be exercisable, in whole or in part, commencing 180 days from the Effective Date [Closing Date] and expiring on the threefive-year anniversary of the Effective Date [Closing Date] at an initial exercise price of $____ [●] per share of Common StockShare, which is equal to one hundred and twenty five fifteen percent (125115%) of the initial public offering price of a UnitFirm Share. The Representative’s Warrants and the shares of Common Stock issuable upon exercise of the Representative’s Warrants are hereinafter referred to collectively as the “Representative’s Securities.” The Share and the Representative’s Securities are hereinafter referred to collectively as the “Securities.”