No. 1 _______ Shares FOR VALUE RECEIVED, HERLEY INDUSTRIES, INC., a Delaware corporation (the "Company"), hereby certifies that Ladenburg, Thalmann & Co. Inc. or its permitted assigns, is entitled to purchase from the Company, at any time or from time...Herley Industries Inc /New • January 14th, 1997 • Search, detection, navagation, guidance, aeronautical sys • New York
