DELTA MUTUAL, INC. Common Stock Purchase Warrant (Expiring on April 30, 2018)Delta Mutual Inc • May 14th, 2013 • Crude petroleum & natural gas
This is to certify that, for value received and subject to the conditions herein set forth, Phillips W. Smith (the "Warrantholder") is entitled to purchase, at a price per share of Twenty Cents ($0.20) per share, One Million (1,000,000) shares of common stock, par value $0.0001 per share (the "Common Stock"), of Delta Mutual, Inc., a Delaware corporation (the "Company"), subject to vesting and adjustment as provided below (such shares purchasable upon exercise of this Warrant by Warrantholder are herein called the "Warrant Stock"). The number of shares of Warrant Stock purchasable upon exercise of this Warrant shall vest in Twenty-Four (24) installments, consisting of Twenty-Three (23) equal monthly installments of 41,666 shares each, the first installment vesting on May 31, 2013, and each of the subsequent 41,666 share installments on the final day of each of the Twenty-Two (22) succeeding months, and One (1) final installment of 41,682 shares vesting on April 30, 2015, as of which da
