Common use of Placement Agent Warrant Clause in Contracts

Placement Agent Warrant. At each Closing, the Company agrees to sell to the Placement Agent a Warrant to purchase a number of shares of the Company's Common Stock equal to five percent (5%) of the number of Conversion Shares into which the Notes sold at such Closing are convertible (the "Placement Agent Warrant") at a purchase price of $.001 per share of Common Stock covered by the Placement Agent Warrant. The Placement Agent Warrant will be exercisable at any time before the fifth anniversary of the initial Closing at a price of $0.875 (subject to adjustments for stock dividends, splits, combinations and certain other issuances of Common Stock or Common Stock equivalents, all as provided in the Placement Agent Warrant). The Placement Agent Warrant will be in a form reasonably satisfactory to the Company and the Placement Agent.

Placement Agent Warrant. At each Closing, the Company agrees to sell to the Placement Agent a Warrant to purchase a number of shares of the Company's Common Stock equal to five percent (5%) of the number of Conversion Shares sold into which the Notes sold at such Closing are convertible (the "Placement Agent Warrant") at a purchase price of $.001 per share of Common Stock covered by the Placement Agent Warrant. The Placement Agent Warrant will be exercisable at any time before the fifth anniversary of the initial Closing at a price of $0.875 (subject to adjustments for stock dividends, splits, combinations and certain other issuances of Common Stock or Common Stock equivalents, all as provided in the Placement Agent Warrant). The Placement Agent Warrant will be in a form reasonably satisfactory to the Company and the Placement Agent.