Common use of Warrant Terms Clause in Contracts

Warrant Terms. Each of the warrants described in Section 3.9(a) and Section 3.9(b) shall have a six (6) year term from the date of grant. The warrant described in Section 3.9(a) shall have a per share exercise price equal to the closing price of Stock (as reported on Nasdaq) on the Effective Date. The warrants described in Section 3.9(b) will have a per share exercise price equal to the closing price of Stock (as reported on Nasdaq) on the grant date. The vesting of any warrant issued under Section 3.9(a) and/or Section 3.9(b) shall terminate immediately and automatically upon the termination or expiration of this Agreement.