XXXXXXX, XXXXX & XXXXXXX, INC.
Stock Purchase Warrant Agreement
Name(s) of Warrant Owners(s) _________________________________________
Number of Warrants Owned: Warrant A ____________ Warrant B _________
Warrant Terms:
Warrant A allows the above named owner(s) the right to acquire eight (8) shares
of the Company's common stock for each of Warrant A owned at the exercise price
of the $1.25 per share. Warrant B allows the above named owner(s) the right to
acquire two and one-half (2 1/2) shares of the Company's common stock for each
Warrant B owned at the exercise price of $4.00 dollars per share. The Warrants
cannot be exercised until the effective date of a registration statement to
be filed with Securities Exchange Commission (SEC) for the purpose of
registering the common stock and warrants. Warrant A will expire twelve months
from said effective date, and Warrant B will expire 18 months from said date.
The Warrants will remain effective during the exercise period, and the
Company's Board of Directors has the right to extend expiration dates as long
as the registration statement filed with the SEC is kept current. The Board of
Directors as other rights involving the modification of the Warrants if it
feels it is in the best interests of the Corporation and its shareholders.
The Company will have the right to call the Warrants upon thirty (30) days
written notice to Warrant owners, and it will pay two cents ($.02) per Warrant
for each Warrant not exercised. If called the Warrant owners will have the
immediate right to exercise all or part of Warrants owned. Warrant A a cannot
be called unless the bid price of the Company's common stock is two dollars
($2.00) or higher for a period of twenty (20) consecutive trading days, and
Warrant B cannot be called unless the bid price of the common stock is five
dollars ($5.00) or more for twenty (20) consecutive trading days.
By order of the Board of Directors
/s/ Xxxx X. XxXxxxxxxx, President
