FORM OF WARRANT STOCK PURCHASE WARRANT To Purchase __________ Shares of Common Stock of NEAH POWER SYSTEMS, INC.Stock Purchase Warrant • April 5th, 2007 • Neah Power Systems, Inc. • Miscellaneous electrical machinery, equipment & supplies
THIS STOCK PURCHASE 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 , 2007 (the "Initial Exercise Date") and on or prior to the close of business on the fifth anniversary of the Initial Exercise Date (the "Termination Date") but not thereafter, to subscribe for and purchase from Neah Power Systems, Inc., a corporation incorporated in the State of Nevada (the "Company"), up to [an amount equal to 75% of the total number of shares of common stock purchased by Holder in the offering] shares (the "Warrant Shares") of Common Stock, par value $0.001 per share, of the Company (the "Common Stock"). The purchase price of one share of Common Stock (the "Exercise Price") under this Warrant shall be $1.10 for up to one-third of the total number of Warrant Shares, $1.60 for up to one-third of the total number of Warrant Shares, and $2.o0 for
