WARRANT TO PURCHASE COMMON STOCK OF ARIEL WAY, INC.Warrant Agreement • September 21st, 2006 • Ariel Way Inc • Patent owners & lessors • Florida
This certifies that in consideration of the execution of that certain Promissory Note (the “ Promissory Note ”), dated as of September 26, 2005, as amended, by and between Ariel Way, Inc., a Florida corporation (the “ Company ”), with principal offices at 8000 Towers Crescent Drive, Suite 1220, Vienna, VA 22182, and Mrs. Eva Dunhem, an individual living at address 7901 Ariel Way, McLean, Virginia 22102 (“ Mrs. Dunhem ”) is entitled, subject to the terms and conditions of this Warrant, to purchase from the Company at any time during the Exercise Period (as defined below) and with vesting as defined below, up to Two Hundred Thousand (200,000) shares (the “ Number of Warrant Shares ”) of Warrant Stock (as defined below) at a price per share equal to the Warrant Price (as defined below), upon surrender of this Warrant at the principal offices of the Company, together with a duly executed subscription form in the form attached hereto as Exhibit 1 and simultaneous payment of the full Warrant
