STOCK PURCHASE WARRANTPower Efficiency Corp • October 7th, 2011 • Electrical industrial apparatus
THIS 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 hereof (the “Initial Exercise Date”) and on or prior to the close of business on September [__], 2016 (the “Termination Date”) to subscribe for and purchase from POWER EFFICIENCY CORPORATION, a corporation incorporated in the State of Delaware (the “Company”), up to ____ shares (the “Warrant Shares”) of common stock, $0.001 par value, of the Company (the “Common Stock”). The exercise price of one Warrant Share under this Warrant shall be $_____ (the “Exercise Price”). The Exercise Price and the number of Warrant Shares for which the Warrant is exercisable shall be subject to adjustment as provided herein. Capitalized terms used and not otherwise defined herein shall have the meanings set forth for such terms in the Subscription Agreement dated as of September 1, 2
