MECHANICAL TECHNOLOGY, INCORPORATED Units Consisting of [ ] Shares of Common Stock and Warrants to Purchase Shares of Common Stock UNDERWRITING AGREEMENTUnderwriting Agreement • May 22nd, 2008 • Mechanical Technology Inc • Measuring & controlling devices, nec • New York
Merriman Curhan Ford & Co. Ardour Capital Investments, LLC c/o Merriman Curhan Ford & Co. 600 California Street, 9th Floor San Francisco, CA 94108
MECHANICAL TECHNOLOGY, INCORPORATED Warrant for the Purchase of Shares of Common StockWarrant Agreement • May 22nd, 2008 • Mechanical Technology Inc • Measuring & controlling devices, nec • New York
THIS CERTIFIES that, for value received, ___and its registered assigns (the “Holder”), is entitled to subscribe for and purchase from Mechanical Technology, Incorporated, a New York corporation (the “Company”), up to ___fully paid and nonassessable shares (the “Warrant Shares”) of common stock, $0.01 par value, of the Company (the “Common Stock”) at an exercise price of $ per share (the “Exercise Price”) subject to adjustment as provided in Section 3 hereof, at any time or from time to time during the period (the “Exercise Period”) commencing on the date hereof and ending on the five (5) year anniversary of the date hereof (the “Expiration Date”). At 6:30 p.m., New York City time on the Expiration Date, the portion of this warrant (this “Warrant”) not exercised prior thereto shall be and become void and of no value.
