PREFERRED STOCK PURCHASE WARRANT To Purchase Shares of 0% Series CC Convertible Preferred Stock of North American Technologies Group, Inc.Security Agreement • April 15th, 2005 • North American Technologies Group Inc /Mi/ • Industrial organic chemicals • Texas
THIS PREFERRED STOCK PURCHASE WARRANT (the “Warrant”) CERTIFIES that, for value received, (the “Holder”), is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the date of issuance of this Warrant (the “Initial Exercise Date”) and on or prior to the fifth anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from North American Technologies Group, Inc., a Delaware corporation (the “Company”), up to shares (the “Warrant Shares”) of 0% Series CC Convertible Preferred Stock, par value $0.001 per share, of the Company (the “Preferred Stock”). The purchase price of one share of Preferred Stock (the “Exercise Price”) under this Warrant shall be $925.926 subject to adjustment hereunder.
