SECOND AMENDMENT TO WARRANT AGREEMENT
SECOND
AMENDMENT
TO WARRANT AGREEMENT
This
Second Amendment to Warrant Agreement (this “Agreement”)
is
made and entered into as of November 26, 2007.
RECITALS
A. The
undersigned, _____________________ (the “Holder”)
is the
holder of a warrant dated April 13, 2006 issued by Trulite, Inc., a Delaware
corporation (the “Company”)
to
purchase _________ shares of the Company’s common stock, $0.0001 per share (the
“Warrant”).
B. The
Warrant as amended provides that unless earlier terminated in accordance with
its terms the Warrant may be exercised through 5:00 p.m. CST on April 13,
2008.
C.
The
Warrant provides that the Exercise Price for the shares of Common Stock issuable
under this Warrant shall be $1.50 per share.
D. The
Board
of Directors of the Company has determined that it is desirable and in the
best
interest of the Company to reduce the Exercise Price to $0.50 per share and,
accordingly, has approved the amendment of the Warrant to so
provide.
NOW,
THEREFORE,
for and
in consideration of the mutual promises and covenants contained herein, the
receipt and sufficiency of which is acknowledged, the parties hereto agree
as
follows:
1. The
Warrant is hereby amended so that each reference therein to the “Exercise Price”
shall mean Fifty Cents ($0.50) per share of Common Stock issuable under the
Warrant.
2. Except
as
amended herein, the Warrant as previously amended remains
unchanged.
IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date first
written.
|
TRULITE,
INC.
|
||
|
By:
|
||
|
Xxxxxxxx
Xxxxxxxx, President
|
||
ACKNOWLEDGED
AND AGREED:
HOLDER:
