就上述 公式而言：

[A=本認股權證當時正被行使的股份總數。]

B =由持有人選擇：（i）適用行使通知日期前一個交易日的普通股的 VWAP，如果該行使通知 （1）在非交易日的一天根據本合同第1（a）節在非交易日的一天簽署和交付，或（2）在開盤前的一個交易日根據本合同第1（a）節在“正常交易時間"（定義見根據聯邦證券法頒佈的NMS條例第600（b）（64） 條）在該交易日，（ii）由持有人選擇，（y）適用行使通知日期前一個交易日的 VWAP，或（z）持有人的時間 普通股的買入價，如果該行使通知是在交易日的"正常 交易時間"內簽署的，並根據本協議第1（a）條在其後兩（2）小時內交付，或（iii） 適用行使通知日期的普通股收盤價，如果該行使通知日期為交易 該行使通知書在該交易日的“正常交易時間”結束後根據本協議第1（a）條簽署和交付。C=行權時適用認股權證股份當時的有效價格。

如果認股權證股份以無現金方式發行，雙方確認並同意，根據1933年法令第3(A)(9)節，認股權證股份 具有正在行使的認股權證的登記特徵。就1933年法令頒佈的第144(D)條而言，由於於認購日期生效，故擬將以無現金方式發行的認股權證股份視為已由持有人收購，而認股權證股份的持有期應視為已開始，自本認股權證最初根據證券購買協議發行的日期 起計算。

(E)爭議。 如根據本協議條款對行使價的釐定或將發行的認股權證股份數目的計算產生爭議，本公司應立即向持有人發行無爭議的認股權證股份數目 ，並根據第15節解決該爭議。

(F)練習限制 。[_]

(i)受益 所有權。本公司不得行使本認股權證的任何部分，持有人也無權行使本認股權證的任何部分，根據本認股權證的條款和條件，任何該等行使應無效，並視為 從未進行，但在行使該等行使後，持有人連同其他歸屬方共同 將實益擁有超過4.99%的股份（"[___________]Maximum Percentage”) of the Common Shares outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence, the aggregate number of Common Shares beneficially owned by the Holder and the other Attribution Parties shall include the number of Common Shares held by the Holder and all other Attribution Parties plus the number of Common Shares issuable upon exercise of this Warrant with respect to which the determination of such sentence is being made, but shall exclude Common Shares which would be issuable upon (A) exercise of the remaining, unexercised portion of this Warrant beneficially owned by the Holder or any of the other Attribution Parties and (B) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company (including, without limitation, any convertible notes or convertible preferred stock or warrants, including other SPA Warrants) beneficially owned by the Holder or any other Attribution Party subject to a limitation on conversion or exercise analogous to the limitation contained in this Section 1(f)(i). For purposes of this Section 1(f)(i), beneficial ownership shall be calculated in accordance with Section 13(d) of the 1934 Act. For purposes of determining the number of outstanding Common Shares the Holder may acquire upon the exercise of this Warrant without exceeding the Maximum Percentage, the Holder may rely on the number of outstanding Common Shares as reflected in (x) the Company’s most recent Annual Report on Form 20-F, Report of Foreign Issuer on Form 6-K or other public filing with the SEC, as the case may be, (y) a more recent public announcement by the Company or (z) any other written notice by the Company or the Transfer Agent, if any, setting forth the number of Common Shares outstanding (the “Reported Outstanding Share Number”). If the Company receives an Exercise Notice from the Holder at a time when the actual number of outstanding Common Shares is less than the Reported Outstanding Share Number, the Company shall (i) notify the Holder in writing of the number of Common Shares then outstanding and, to the extent that such Exercise Notice would otherwise cause the Holder’s beneficial ownership, as determined pursuant to this Section 1(f)(i), to exceed the Maximum Percentage, the Holder must notify the Company of a reduced number of Warrant Shares to be acquired pursuant to such Exercise Notice (the number of shares by which such purchase is reduced, the “Reduction Shares”) and (ii) as soon as reasonably practicable, the Company shall return to the Holder any exercise price paid by the Holder for the Reduction Shares. For any reason at any time, upon the written or oral request of the Holder, the Company shall within one (1) Business Day confirm orally and in writing or by electronic mail to the Holder the number of Common Shares then outstanding. In any case, the number of outstanding Common Shares shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder and any other Attribution Party since the date as of which the Reported Outstanding Share Number was reported. In the event that the issuance of Common Shares to the Holder upon exercise of this Warrant results in the Holder and the other Attribution Parties being deemed to beneficially own, in the aggregate, more than the Maximum Percentage of the number of outstanding Common Shares (as determined under Section 13(d) of the 1934 Act), the number of shares so issued by which the Holder’s and the other Attribution Parties’ aggregate beneficial ownership exceeds the Maximum Percentage (the “Excess Shares”) shall be deemed null and void and shall be cancelled ab initio, and the Holder shall not have the power to vote or to transfer the Excess Shares. As soon as reasonably practicable after the issuance of the Excess Shares has been deemed null and void, the Company shall return to the Holder the exercise price paid by the Holder for the Excess Shares. Upon delivery of a written notice to the Company, the Holder may from time to time increase (with such increase not effective until the sixty-first (61

ST[___________])該通知送達後一天) 或將最高百分比降低至該通知中規定的不超過9.99%的任何其他百分比；但條件是：(I)最高百分比的任何此類 增加直到第六十一(61)日才生效[___________]ST

）及（ii）任何該等增加或減少將僅適用於持有人及其他歸屬方，而不適用於並非持有人歸屬方的任何其他SPA權證持有人。為清楚起見，根據 本認股權證條款發行的普通股超過最大百分比的，不應被視為持有人實益擁有任何目的 ，包括1934年法案第13（d）條或規則16a—1（a）（1）條。根據本 段先前無法行使本認股權證不應對本款條款的適用性產生任何影響 的任何後續決定 。本段的規定應以非嚴格符合本節第1（f）（i）條款的方式進行解釋和實施，但必須糾正本段或本節第1（f）（i）中包含的任何部分， 可能存在缺陷或與本節第1（f）（i）中所包含的預期受益所有權限制不一致，或進行修改或補充 為適當地實施這種限制所必需或可取的。本段所載的限制不得放棄，並應 適用於本認股權證的繼任持有人。

(Ii)^故意省略 (G)保留股份 。

(I)所需的儲備量。只要本認股權證仍未發行，本公司應始終保留至少等於最大普通股數量的100%的普通股，以根據本認股權證進行發行，以滿足公司根據當時尚未發行的SPA認股權證發行普通股的義務(不考慮對行使的任何限制) (“所需準備金金額”)；但根據第1(G)(I)節保留的普通股數量在任何時候均不得減少，但與行使或贖回SPA認股權證或下述第2(A)節涵蓋的其他事件相關的普通股數量不得按比例減少。所需儲備金額(包括但不限於每次預留股份數目的增加) 將根據每名持有人於截止日期行使SPA認股權證後可發行的普通股數目 或(視情況而定)預留股份數目的增加而按比例分配給SPA認股權證持有人(“授權股份分配”)。如果持有人出售或以其他方式轉讓該持有人的任何SPA認股權證，應按比例分配給每個受讓人該持有人的授權股份分配 。向停止持有任何SPA認股權證的任何人士保留和分配的任何普通股，應分配給剩餘的SPA認股權證持有人，按該等持有人當時持有的SPA認股權證行使後可發行的普通股數量按比例分配 (不考慮對行使的任何限制)。

(Ii)授權股份不足 。如果儘管有上文第1(G)(I)節的規定，但不限於此，在任何SPA認股權證仍未發行的任何時間，本公司沒有足夠數量的授權和非儲備普通股來履行其儲備所需儲備金額的義務(“授權股份失效”)，則本公司應立即採取所有必要的 行動，將本公司的授權普通股增加到足以使本公司為當時未發行的所有SPA認股權證保留所需儲備金額的金額。在不限制前述句子的一般性的原則下，本公司應於授權股份失敗發生之日起，在切實可行範圍內儘快，但在任何情況下不得遲於該等授權股份失敗發生後 天，召開股東大會批准增加 股法定普通股數量。就該會議而言，本公司應向每位股東提供委託書，並應盡其最大努力征求其股東對本次增發法定普通股的批准，並促使其 董事會向股東推薦批准該項提議。儘管有上述規定，如果在任何該等時間發生法定股份倒閉，本公司可取得其已發行及已發行普通股的過半數股份的書面同意，以批准增加法定普通股的數目，本公司可取得該同意並 向美國證券交易委員會提交附表14C的資料聲明，以履行此項義務。如果由於公司未能從 已授權但未發行的普通股中獲得足夠的普通股(未獲授權的普通股數量，稱為“授權失敗股”)，公司在行使本認股權證時被禁止發行普通股， 為代替將此類授權失敗股交付給持有人，公司應支付現金，以換取註銷本認股權證中可行使到該授權失敗股份的該部分，其價格等於(I)(X) 該授權失敗股份數量與(Y)普通股在 期間內任何交易日的最高收市價之和，該交易日自持有人向本公司提交有關該授權失敗股份的適用行使通知之日起至根據本條第1(G)款發行和付款之日止；及(Ii)就持有人(以公開市場交易或其他方式)購買普通股以滿足持有人出售授權失效股份的情況而言， 持有人因此而產生的任何買入付款金額、經紀佣金及其他自付費用(如有)。 本第1(G)節所載任何規定均不限制本公司在證券購買協議任何條文下的任何責任。

2.調整行權價和認股權證數量。行使本認股權證時可發行的認股權證股份的行使價格及數目可按本第二節所述不時作出調整。

(A)分享股息和拆分。在不限制第2(B)節、第3節或第4節任何規定的情況下，如果公司在認購日或之後的任何時間 ，(I)向當時的一類或多類已發行普通股支付股息或以其他方式對應以普通股支付的任何類別股本進行分配，(Ii)(通過任何股份拆分、股份股息、 資本重組或其他方式)將一類或多類當時的已發行普通股細分為更多數量的股票，或(Iii)合併 (通過組合，反向分拆或其他方式)一類或多類當時已發行的普通股分為較少數量的 股，則在每種情況下，行使價應乘以一個分數，其中分子為緊接該事件發生前已發行的普通股數量，分母為緊接該事件後已發行的普通股數量 。根據本段第(I)款作出的任何調整將於決定有權收取該等股息或分派的股東的登記日期 後立即生效，而根據本段第(Ii)或 (Iii)條作出的任何調整將於緊接該等分拆或合併生效日期後生效。如果在根據本條款計算行權價格的期間內發生任何需要根據本款進行調整的事件，則應對該行權價格的計算進行適當調整，以反映該事件。

(B)普通股發行調整 。如果在認購日或之後，本公司授予、發行或出售(或簽訂任何授予、發行或出售協議)，或根據本第2條被視為已授予、發行或出售任何 普通股(包括髮行或出售由本公司擁有或持有的普通股或為公司賬户持有的普通股)，但不包括任何已授出、已發行或已售出或視為已授出、已發行或已售出的證券)，每股代價(“新發行 價格”)低於緊接該等授出、發行或出售前有效或視為 授出、發行或出售前有效的行使價或視為 授出、發行或出售的價格(本文當時有效的行使價稱為“適用價格”)，則緊接該等攤薄發行後，當時生效的行使價應減至與新發行價相等的金額。就上述所有目的而言(包括但不限於根據本第2(B)節確定調整後的行權價和新的發行價)，應適用以下條款：

(I)發行期權 。如果本公司以任何方式授予、發行或出售(或訂立任何協議授予、發行或出售)任何期權 以及在行使任何該等期權或轉換時任何時間可發行一股普通股的最低每股價格， 行使或交換根據該等期權行使或以其他方式根據其條款可發行的任何可轉換證券的價格低於適用價格，則該普通股應被視為已發行，並在授予時已由本公司發行和出售。 發行或出售(或簽署授予、發行或出售該等協議的時間，視何者適用而定)以該每股價格購入該等 購股權。就本第2(B)(I)條而言，“於行使任何該等購股權或轉換、行使或交換任何該等購股權或以其他方式根據其條款可發行的任何可轉換證券時，可隨時發行一股普通股的最低每股價格”應等於(1)(X)本公司於授予、 發行或出售(或根據授予協議)時就任何一股普通股所收取或應收的最低對價(如有)的總和，在行使該等期權時及在轉換、行使或交換可於行使該等期權或以其他方式根據其條款發行的任何可轉換證券時，及(Y)該等期權所載可發行一股普通股的最低行使價(或假設所有可能的市場情況下均可發行)，行使或交換在行使任何此類期權或以其他方式根據其條款可發行的任何可轉換證券 減去(2)在授予、發行或出售(或授予、發行或出售協議，視情況適用)時向該期權持有人(或任何其他人)支付或應付的所有金額的總和 在行使該期權時以及在轉換、行使或交換根據該期權行使或以其他方式根據其條款可發行的任何可轉換證券時，減去(2)該期權持有人(或任何其他人)在該期權的授予、發行或出售(或授予、發行或出售協議，視情況而定)時支付或應付的所有金額的總和 ，該期權的持有者(或任何其他人)。除以下預期外，根據轉換、行使或交換該等可換股證券時實際發行該等普通股或該等可換股證券的條款，該等普通股或該等可換股證券的實際發行或其他情況下，不得進一步調整行使價 。

(Ii)發行可轉換證券。若本公司以任何方式發行或出售(或訂立任何發行或出售協議)任何可換股 證券，而一股普通股於轉換、行使或交換時或根據其條款於任何時間可發行的最低每股價格低於適用價格，則該等普通股應被視為已發行 ，並已由本公司於發行或出售該等可換股證券時(或簽署該協議以發行或出售(如適用)該等可換股證券時)按該每股價格發行及出售。就本第2(B)(Ii)節而言，“一股普通股在轉換、行使或交換時或根據其條款可隨時發行的最低每股價格”應等於(1)(X)本公司在發行或出售(或根據發行或出售協議，視 適用)發行或轉換時就一股普通股所收取的最低對價(如有)或 應收金額之和，行使或交換該等可轉換證券或根據 其條款及(Y)可發行一股普通股的該等可轉換證券所載的最低轉換價格(或在所有可能的市場條件下可予發行)，或根據其條款或其他規定，減去(2)在發行或出售(或發行或出售協議)時向該等可轉換證券持有人(或任何其他人)支付或應付的所有款項的總和，該等可換股證券加上該等可換股證券持有人(或任何其他人士)所收取或應收的任何其他代價的價值，或該等可換股證券持有人(或任何其他人士)獲授予的利益。除下文預期的 外，在轉換、行使或交換該等可換股證券時實際發行該等普通股時，或根據該等可換股證券的條款，實際發行或出售該等普通股時，不得進一步調整行使價；若任何該等可換股證券的發行或出售是在行使任何已根據或將會根據本條第2(B)條的其他條文調整本認股權證的期權時作出的，則除以下預期外，不得因該等發行或出售而進一步調整行使價。

(Iii)更改期權價格或轉換比率 。如果任何期權中規定的購買或行使價格，在發行、轉換、行使或交換任何可轉換證券時支付的額外對價 ，或任何可轉換證券可轉換為普通股或可執行或可交換為普通股的利率 在任何時候增加或減少(但與第2(A)節所述事件相關的轉換或行使價格按比例變化除外)，在該等增減時生效的行權價 應調整為在初始授予、發行或出售時，若該等購股權或可換股證券提供該等增減收購價、額外對價或增加或減少的轉換率(視屬何情況而定)，該等期權或可換股證券在當時將會生效的行使價。就本第2(B)(Iii)條而言，如任何購股權或可轉換證券(包括但不限於認購日未償還的任何購股權或可轉換證券)的條款按上一句所述方式增加或減少，則該購股權或可轉換證券及其普通股在行使、轉換或交換時被視為可發行，應視為自增加或減少之日起已發行。如果根據第2(B)條進行的調整將導致當時有效的行使價增加，則不得進行此類調整。

(4)計算收到的對價。如果任何期權和/或可轉換證券和/或調整權的發行與公司任何其他證券的發行或銷售或銷售或被視為發行或銷售(由持有人確定，“一級證券”， 和該等期權和/或可轉換證券和/或調整權，“二級證券”)相關而發行，包括 一項綜合交易，(或如果該等證券的發行或銷售或被視為發行或銷售，則為一項或多項交易)，或者(A)至少有一個共同的投資者或購買者，(B)在彼此合理接近的情況下完成和/或 (C)根據相同的融資計劃完成)關於該初級證券的每股普通股總對價 應被視為等於(X)在該綜合交易中僅就該初級證券發行的一股普通股的最低每股價格(或被視為根據上文第2(B)(I)或2(B)(Ii)節發行的最低價格)減去(Y)關於該次級證券的差額，(I)每項該等購股權的Black Scholes代價價值(如有)、(Ii)該等調整權(如有)的公平市值(由持有人真誠釐定)或Black Scholes代價價值(如適用)及(Iii)該等可換股證券(如有)的公平市值(由持有人釐定)的總和 ，在每種情況下均按本第2(B)(Iv)條按每股股份釐定。如發行或出售任何普通股、購股權或可換股證券，或被視為以現金髮行或出售，則就該等普通股、購股權或可換股證券支付的代價(但並非就計算Black Scholes代價價值而言)將被視為本公司為此收取的代價淨額。如果以現金以外的代價發行或出售任何普通股、期權或可轉換證券，則公司收到的此類代價的金額 (用於確定為該等普通股、期權或可轉換證券支付的代價，但不是用於計算Black Scholes對價價值)將是該代價的公允價值，但如果該代價包括公開交易的證券，則除外。在這種情況下，本公司收到的此類證券的對價金額將是緊接收到日期之前的五(5)個交易日內此類證券的VWAP的算術平均值。如因本公司為尚存實體的任何合併而向非尚存實體的擁有人發行任何普通股、購股權或可換股證券，則就該等普通股、購股權或可換股證券支付的代價金額(就釐定就該等普通股、購股權或可換股證券支付的代價而言，但並非就計算Black Scholes代價價值而言)將被視為該非尚存實體的有關部分資產淨值的公允價值，因為 應歸屬於該等普通股、購股權或可換股證券(視情況而定)。除現金或上市證券外，任何其他代價的公平價值將由本公司及持有人共同釐定。如果此類當事人無法在需要評估的事件(“評估事件”)發生後十(10)天內達成協議，則該對價的公允價值將在十(10)日後的五(5)個交易日內確定

這是

)由本公司和持有人共同選定的獨立、信譽良好的評估師在該評估事件之後的第二天。該評估師的決定為最終決定，對沒有明顯錯誤的各方具有約束力，該評估師的費用和開支應由本公司承擔。

(V)記錄日期。如果本公司記錄普通股持有人有權(A)收取以普通股、期權或可轉換證券支付的股息或其他分派，或(B)認購或購買普通股、 期權或可轉換證券，則該記錄日期將被視為於宣佈該等股息或作出該等其他分派或授予該認購權或購買權(視乎情況而定)時視為已發行或出售的普通股的發行或出售日期。(C)認股權證股份數量 。在根據本第2(A)條對行權價作出任何調整的同時，可於行使本認股權證時購買的認股權證 股份數目將按比例增加或減少，以便在該項調整後，根據本協議就經調整的認股權證股份數目而須支付的行權價合計應與緊接該等調整前生效的行使價合計 相同(不考慮對行使本條款所載的任何限制)。如果緊接 任何調整日期之後，在行使本認股權證時可發行的認股權證股份總數少於緊接該調整日期後的最高資格數目 ，則在行使本認股權證時可發行的認股權證股份總數將自動 增加至該最高資格數目(在每種情況下，均不考慮本文對行使權證的任何限制，亦不會因本認股權證之前的任何行使而 )。^{(d) Holder’s Right of Alternative Exercise Price Following Issuance of Certain Options or Convertible Securities. In addition to and not in limitation of the other provisions of this Section 2, if the Company in any manner issues or sells or enters into any agreement to issue or sell, any Common Shares, Options or Convertible Securities (any such securities, “Variable Price Securities”) after the Subscription Date that are issuable pursuant to such agreement or convertible into or exchangeable or exercisable for Common Shares at a price which varies or may vary with the market price of the Common Shares, including by way of one or more reset(s) to a fixed price, but exclusive of such formulations reflecting customary anti-dilution provisions (such as share splits, share combinations, share dividends and similar transactions) (each of the formulations for such variable price being herein referred to as, the “Variable Price”), the Company shall provide written notice thereof via facsimile and overnight courier to the Holder on the date of such agreement and the issuance of such Convertible Securities or Options. From and after the date the Company enters into such agreement or issues any such Variable Price Securities, the Holder shall have the right, but not the obligation, in its sole discretion to substitute the Variable Price for the Exercise Price upon exercise of this Warrant by designating in the Exercise Notice delivered upon any exercise of this Warrant that solely for purposes of such exercise the Holder is relying on the Variable Price rather than the Exercise Price then in effect. The Holder’s election to rely on a Variable Price for a particular exercise of this Warrant shall not obligate the Holder to rely on a Variable Price for any future exercises of this Warrant.}(e)共享 組合事件調整。如果在發行日期或之後的任何時間和不時發生涉及普通股的任何股份分割、股份 股息、股份合併資本重組或其他類似交易（每個，一個“股份合併 事件”，以及該事件的日期，“股份合併事件日期”）且事件市價低於 當時生效的行使價（在上述第2（a）條的調整生效後），則在緊接該股份合併事件後的第十六（16）個交易日 ，於該第十六（16）個交易日生效的行使價（ 上文第2（a）條的調整生效後）應減少（但在任何情況下均不增加）至事件市價。為免生疑問，如果上一句中的調整會導致本協議項下的行使價增加，則 不應作出調整。^{(f) Other Events. In the event that the Company (or any Subsidiary (as defined in the Securities Purchase Agreement)) shall take any action to which the provisions hereof are not strictly applicable, or, if applicable, would not operate to protect the Holder from dilution or if any event occurs of the type contemplated by the provisions of this Section 2 but not expressly provided for by such provisions (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other rights with equity features), then the Company’s board of directors shall in good faith determine and implement an appropriate adjustment in the Exercise Price and the number of Warrant Shares (if applicable) so as to protect the rights of the Holder, provided that no such adjustment pursuant to this Section 2(f) will increase the Exercise Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section 2, provided further that if the Holder does not accept such adjustments as appropriately protecting its interests hereunder against such dilution, then the Company’s board of directors and the Holder shall agree, in good faith, upon an independent investment bank of nationally recognized standing to make such appropriate adjustments, whose determination shall be final and binding absent manifest error and whose fees and expenses shall be borne by the Company.}(G)計算。 本節2下的所有計算均應四捨五入到最接近的美分或最接近的1/100

這是[一個人，如果適用的話。在任何特定時間發行在外的普通股數量不應包括由公司擁有或持有或為公司賬户 持有的股份，任何此類股份的處置應被視為普通股的發行或出售。]

(H)公司自願調整。在主要市場規則及規例的規限下，本公司可於本認股權證有效期內任何時間，在取得所需持有人(定義見證券購買協議)的事先書面同意下，將當時的行權價調低至本公司董事會認為適當的任何金額及任何期間。

3. RIGHTS UPON DISTRIBUTION OF ASSETS. In addition to any adjustments pursuant to Section 2 above or Section 4(a) below, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of Common Shares, by way of return of capital or otherwise (including, without limitation, any distribution of cash, stock or other securities, property, options, evidence of indebtedness or any other assets by way of a dividend, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time after the issuance of this Warrant, then, in each such case, the Holder shall be entitled to participate in such Distribution to the same extent that the Holder would have participated therein if the Holder had held the number of Common Shares acquirable upon complete exercise of this Warrant (without regard to any limitations or restrictions on exercise of this Warrant, including without limitation, the Maximum Percentage) immediately before the date on which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of Common Shares are to be determined for the participation in such Distribution (provided, however, that to the extent that the Holder’s right to participate in any such Distribution would result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, then the Holder shall not be entitled to participate in such Distribution to the extent of the Maximum Percentage (and shall not be entitled to beneficial ownership of such Common Shares as a result of such Distribution (and beneficial ownership) to the extent of any such excess) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time or times, if ever, as its right thereto would not result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, at which time or times the Holder shall be granted such Distribution (and any Distributions declared or made on such initial Distribution or on any subsequent Distribution held similarly in abeyance) to the same extent as if there had been no such limitation).

4.購買權利；基本交易。

(a) Purchase Rights. In addition to any adjustments pursuant to Sections 2 or 3 above, if at any time the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any class of Common Shares (the “Purchase Rights”), then the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of Common Shares acquirable upon complete exercise of this Warrant (without regard to any limitations or restrictions on exercise of this Warrant, including without limitation, the Maximum Percentage) immediately before the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of Common Shares are to be determined for the grant, issuance or sale of such Purchase Rights (provided, however, that to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, then the Holder shall not be entitled to participate in such Purchase Right to the extent of the Maximum Percentage (and shall not be entitled to beneficial ownership of such Common Shares as a result of such Purchase Right (and beneficial ownership) to the extent of any such excess) and such Purchase Right to such extent shall be held in abeyance for the benefit of the Holder until such time or times, if ever, as its right thereto would not result in the Holder and the other Attribution Parties exceeding the Maximum Percentage, at which time or times the Holder shall be granted such right (and any Purchase Right granted, issued or sold on such initial Purchase Right or on any subsequent Purchase Right held similarly in abeyance) to the same extent as if there had been no such limitation).

(b) Fundamental Transactions. The Company shall not enter into or be party to a Fundamental Transaction unless (i) the Successor Entity assumes in writing all of the obligations of the Company under this Warrant and the other Transaction Documents (as defined in the Securities Purchase Agreement) in accordance with the provisions of this Section 4(b) pursuant to written agreements in form and substance satisfactory to the Holder and approved by the Holder prior to such Fundamental Transaction, including agreements to deliver to the Holder in exchange for this Warrant a security of the Successor Entity evidenced by a written instrument substantially similar in form and substance to this Warrant, including, without limitation, which is exercisable for a corresponding amount of share capital equivalent to the Common Shares acquirable and receivable upon exercise of this Warrant (without regard to any limitations on the exercise of this Warrant) prior to such Fundamental Transaction, and with an exercise price which applies the exercise price hereunder to such share capital (but taking into account the relative value of the Common Shares pursuant to such Fundamental Transaction and the value of such share capital, such adjustments to the amount of share capital and such exercise price being for the purpose of protecting the economic value of this Warrant immediately prior to the consummation of such Fundamental Transaction) and (ii) the Successor Entity (including its Parent Entity) is a publicly traded corporation whose Common Shares is quoted on or listed for trading on an Eligible Market. Upon the consummation of each Fundamental Transaction, the Successor Entity shall succeed to, and be substituted for (so that from and after the date of the applicable Fundamental Transaction, the provisions of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall assume all of the obligations of the Company under this Warrant and the other Transaction Documents with the same effect as if such Successor Entity had been named as the Company herein. Upon consummation of each Fundamental Transaction, the Successor Entity shall deliver to the Holder confirmation that there shall be issued upon exercise of this Warrant at any time after the consummation of the applicable Fundamental Transaction, in lieu of the Common Shares (or other securities, cash, assets or other property (except such items still issuable under Sections 3 and 4(a) above, which shall continue to be receivable thereafter)) issuable upon the exercise of this Warrant prior to the applicable Fundamental Transaction, such shares of publicly traded Common Shares (or its equivalent) of the Successor Entity (including its Parent Entity) which the Holder would have been entitled to receive upon the happening of the applicable Fundamental Transaction had this Warrant been exercised immediately prior to the applicable Fundamental Transaction (without regard to any limitations on the exercise of this Warrant), as adjusted in accordance with the provisions of this Warrant. Notwithstanding the foregoing, and without limiting Section 1(f) hereof, the Holder may elect, at its sole option, by delivery of written notice to the Company to waive this Section 4(b) to permit the Fundamental Transaction without the assumption of this Warrant. In addition to and not in substitution for any other rights hereunder, prior to the consummation of each Fundamental Transaction pursuant to which holders of Common Shares are entitled to receive securities or other assets with respect to or in exchange for Common Shares (a “Corporate Event”), the Company shall make appropriate provision to insure that the Holder will thereafter have the right to receive upon an exercise of this Warrant at any time after the consummation of the applicable Fundamental Transaction but prior to the Expiration Date, in lieu of the shares of the Common Shares (or other securities, cash, assets or other property (except such items still issuable under Sections 3 and 4(a) above, which shall continue to be receivable thereafter)) issuable upon the exercise of the Warrant prior to such Fundamental Transaction, such shares of stock, securities, cash, assets or any other property whatsoever (including warrants or other purchase or subscription rights) which the Holder would have been entitled to receive upon the happening of the applicable Fundamental Transaction had this Warrant been exercised immediately prior to the applicable Fundamental Transaction (without regard to any limitations on the exercise of this Warrant). Provision made pursuant to the preceding sentence shall be in a form and substance reasonably satisfactory to the Holder.

(C)黑色 斯科爾斯值。

(i)基本 交易贖回。儘管有上述規定和上述第4（b）條的規定，應持有人的要求 在（x）任何基本交易的公開披露最早發生的任何時間交付，（y）任何基本交易的完成 和（z）持有人在九十年 的日期內首次意識到任何基本交易 （90）在公司根據提交給美國證券交易委員會的6—K表外國發行人報告公開披露完成該基本交易的幾天後，公司或繼承實體（視情況而定）應向持有人購買本權證 在該要求之日，向持有人支付相當於布萊克斯科爾斯價值的現金。該等金額 應由本公司（或根據本公司的指示）於（x）第二（2）項中較遲者或之前支付給持有人，

發送

) 該請求日期之後的交易日和(Y)該基本交易的完成日期。

(ii)觸發 事件兑換。儘管有上述規定和上述第4（b）條的規定，應持有人的要求， 在觸發事件發生後的任何時間交付（如指定證書中的定義）（假設為此目的， 優先股仍然未發行）。公司或繼承實體（視情況而定）將從[[10]購買此權證。持有人於該要求當日向持有人支付金額相等於觸發事件布萊克斯科爾斯價值的現金。^{(d)應用程序. 本第4條的規定應類似且平等地適用於連續的基本交易和公司事件，且 應適用於本認股權證，（及任何該等後續認股權證）可完全行使，且不考慮 行使本認股權證的任何限制，（但持有人應繼續享有最高百分比的利益，然而， 適用於根據1934年法案登記的股本，此後在行使本認股權證（或任何此類 其他認股權證）時應收的股本。}5. NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company will not, by amendment of its Articles of Association (as defined in the Securities Purchase Agreement), Memorandum of Association (as defined in the Securities Purchase Agreement) or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issuance or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, and will at all times in good faith carry out all the provisions of this Warrant and take all action as may be required to protect the rights of the Holder. Without limiting the generality of the foregoing, the Company (a) shall not increase the par value of any Common Shares receivable upon the exercise of this Warrant above the Exercise Price then in effect, and (b) shall take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and non-assessable Common Shares upon the exercise of this Warrant. Notwithstanding anything herein to the contrary, if after the sixty (60) calendar day anniversary of the Issuance Date, the Holder is not permitted to exercise this Warrant in full for any reason (other than pursuant to restrictions set forth in Section 1(f) hereof), the Company shall use its best efforts to promptly remedy such failure, including, without limitation, obtaining such consents or approvals as necessary to permit such exercise into Common Shares.

6.股東不認為股東。 除本協議另有明確規定外，持有人僅以本認股權證持有人的身份，無權 投票或收取股息或因任何目的被視為本公司股本的持有人，且 本認股權證中的任何內容均不得解釋為授予本認股權證持有人，本公司股東 的任何權利或對任何公司行為的投票、給予或拒絕同意的任何權利（無論是任何重組、股票發行、股票重新分類、合併、合併、轉讓或其他）、接收會議通知、接收股息或認購權，或其他， 在向持有人發行認股權證股份之前，該認股權證股份隨後在適當行使本認股權證時有權收到。 此外，本認股權證中的任何內容均不得解釋為對持有人施加購買任何證券的任何責任 （在行使本認股權證或其他情況下）或作為本公司股東，無論該等責任是由本公司或本公司債權人主張的。儘管有第6條的規定，公司應在向股東提供通知的同時，向持有人提供通知 和其他一般信息的副本。

7.重新發行權證 。

(A)轉讓保證書 。如要轉讓本認股權證，持有人應將本認股權證交回本公司，屆時本公司將根據持有人的命令 立即發行及交付一份新的認股權證(根據第7(D)條)，登記為持有人 可要求的數目，代表有權購買持有人轉讓的認股權證股份數目，如轉讓的認股權證股份數目少於轉讓的認股權證股份總數，則向 持有人發出一份新的認股權證(根據第7(D)條)，代表購買未轉讓的認股權證股份的權利。

(B)丟失、被盜或殘缺不全的授權書。公司收到令公司合理滿意的證據，證明本認股權證已遺失、被盜、毀壞或損毀(以下所述的書面證明和賠償即可作為該證據)、 以及在遺失、被盜或損毀的情況下，持有人以習慣和合理的 形式向本公司作出的任何賠償承諾，以及在本保證書遭損毀的情況下，交回和取消本認股權證後，本公司應簽署並向持有人 交付一份新的認股權證(根據第7(D)節)，代表有權購買當時作為本認股權證基礎的認股權證股份。

(c) 可用於多個權證。持有人在本公司主要辦事處交出本權證後， 可更換為新的權證（根據第7（d）條）合計代表購買當時本認股權證所依據的認股權證股份數量的權利，而每份該等新認股權證將代表購買持有人在該等交回時指定的該等認股權證股份部分的權利；但不得發出零碎普通股認股權證 。

(d)發行新認股權證。每當公司根據本認股權證的條款發行新認股權證時，該新認股權證（i） 應與本認股權證具有相同的期限，（ii）應代表（如新認股權證表面所示）購買當時本認股權證所依據的 認股權證股份的權利（或在根據第7（a）條或第7（c）條發行新認股權證的情況下， 持有人指定的認股權證股份，當添加到與該發行有關的其他新認股權證相關的普通股數量時， 不超過當時本認股權證的認股權證股份的數量），（iii）發行日期 （如新認股權證表面所示，與發行日期相同），及（iv）擁有與本認股權證相同的權利和條件 。^{8. NOTICES. Whenever notice is required to be given under this Warrant, unless otherwise provided herein, such notice shall be given in accordance with Section 9(f) of the Securities Purchase Agreement. The Company shall provide the Holder with prompt written notice of all actions taken pursuant to this Warrant (other than the issuance of Common Shares upon exercise in accordance with the terms hereof), including in reasonable detail a description of such action and the reason therefor. Without limiting the generality of the foregoing, the Company will give written notice to the Holder (i) immediately upon each adjustment of the Exercise Price and the number of Warrant Shares, setting forth in reasonable detail, and certifying, the calculation of such adjustment(s), (ii) at least fifteen (15) days prior to the date on which the Company closes its books or takes a record (A) with respect to any dividend or distribution upon the Common Shares, (B) with respect to any grants, issuances or sales of any Options, Convertible Securities or rights to purchase stock, warrants, securities or other property to holders of Common Shares or (C) for determining rights to vote with respect to any Fundamental Transaction, dissolution or liquidation, provided in each case that such information shall be made known to the public prior to or in conjunction with such notice being provided to the Holder, (iii) at least ten (10) Trading Days prior to the consummation of any Fundamental Transaction and (iv) within one (1) Business Day of the occurrence of a Triggering Event (as defined in the Certificate of Designations), setting forth in reasonable detail any material events with respect to such Triggering Event and any efforts by the Company to cure such Triggering Event. To the extent that any notice provided hereunder constitutes, or contains, material, non-public information regarding the Company or any of its Subsidiaries, the Company shall simultaneously file such notice with the SEC (as defined in the Securities Purchase Agreement) pursuant to a Report of Foreign Issuer on Form 6-K. If the Company or any of its Subsidiaries provides material non-public information to the Holder that is not simultaneously filed in a Report of Foreign Issuer on Form 6-K and the Holder has not agreed to receive such material non-public information, the Company hereby covenants and agrees that the Holder shall not have any duty of confidentiality to the Company, any of its Subsidiaries or any of their respective officers, directors, employees, affiliates or agents with respect to, or a duty to any of the foregoing not to trade on the basis of, such material non-public information. It is expressly understood and agreed that the time of execution specified by the Holder in each Exercise Notice shall be definitive and may not be disputed or challenged by the Company.}9. DISCLOSURE. Upon delivery by the Company to the Holder (or receipt by the Company from the Holder) of any notice in accordance with the terms of this Warrant, unless the Company has in good faith determined that the matters relating to such notice do not constitute material, non-public information relating to the Company or any of its Subsidiaries, the Company shall on or prior to 9:00 am, New York city time on the Business Day immediately following such notice delivery date, publicly disclose such material, non-public information on a Report of Foreign Issuer on Form 6-K or otherwise. In the event that the Company believes that a notice contains material, non-public information relating to the Company or any of its Subsidiaries, the Company so shall indicate to the Holder explicitly in writing in such notice (or immediately upon receipt of notice from the Holder, as applicable), and in the absence of any such written indication in such notice (or notification from the Company immediately upon receipt of notice from the Holder), the Holder shall be entitled to presume that information contained in the notice does not constitute material, non-public information relating to the Company or any of its Subsidiaries. Nothing contained in this Section 9 shall limit any obligations of the Company, or any rights of the Holder, under Section 4(i) of the Securities Purchase Agreement.

10.沒有交易和披露限制。本公司承認並同意，持有人並非本公司的受信人或代理人 ，持有人並無義務(A)對本公司提供的任何資料保密，或(B)在沒有由持有人的 高級人員簽署明確規定此類保密及交易限制的書面保密協議的情況下，禁止在持有該等資料期間買賣任何證券。在沒有簽署此類書面保密協議的情況下，本公司承認持有人可以自由交易本公司發行的任何證券，可以 擁有和使用本公司提供的與該等交易活動相關的任何信息，並可以向任何第三方披露任何此類信息。

11.修改和放棄。除非 此處另有規定，否則本認股權證（第1（f）條除外）的條款可予修訂，且公司可採取此處禁止的任何行動，或不執行此處要求其執行的任何行動，但只有在公司獲得 持有人的書面同意的情況下。任何放棄，除非是書面形式，並由放棄方的授權代表簽署，否則無效。

12.可分割性如果本 授權書的任何條款被法律禁止，或以其他方式被具有管轄權的法院認定為無效或不可執行，則本應被禁止、無效或不可執行的條款 應被視為經修改，以適用於其有效和可執行的最廣泛的範圍，且該條款的無效性或不可撤銷性不應影響本認股權證其餘條款的有效性，只要經如此修改的本認股權證繼續表述，在沒有重大變更的情況下， 雙方關於本協議標的的原始意圖以及所涉條款的禁止性質、無效性或不可撤銷性不會 實質上損害雙方各自的期望或互惠義務，或實際實現本應賦予雙方的利益 。雙方將努力通過真誠協商，以有效條款取代被禁止、無效 或不可執行的條款，該條款的效力應儘可能接近被禁止、無效 或不可執行的條款。

13. GOVERNING LAW. This Warrant shall be governed by and construed and enforced in accordance with, and all questions concerning the construction, validity, interpretation and performance of this Warrant shall be governed by, the internal laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of New York. The Company hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to the Company at the address set forth in Section 9(f) of the Securities Purchase Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. The Company hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in The City of New York, Borough of Manhattan, for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient forum or that the venue of such suit, action or proceeding is improper. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Nothing contained herein shall be deemed or operate to preclude the Holder from bringing suit or taking other legal action against the Company in any other jurisdiction to collect on the Company’s obligations to the Holder, to realize on any collateral or any other security for such obligations, or to enforce a judgment or other court ruling in favor of the Holder. If service of process is effected pursuant to the above sentence, such service will be deemed sufficient under New York law and the Company shall not assert otherwise. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Nothing contained herein shall be deemed or operate to preclude the Holder from bringing suit or taking other legal action against the Company in any other jurisdiction to collect on the Company’s obligations to such Buyer or to enforce a judgment or other court ruling in favor of the Holder. The Company (on behalf of itself and each of its Subsidiaries) hereby appoints the agent for service of process listed in Schedule 9(a) to the Securities Purchase Agreement, as its agent for service of process in New York. THE COMPANY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS WARRANT OR ANY TRANSACTION CONTEMPLATED HEREBY. The choice of the laws of the State of New York as the governing law of this Warrant is a valid choice of law and would be recognized and given effect to in any action brought before a court of competent jurisdiction in the British Virgin Islands and India or such other jurisdiction applicable to the Company or any of its Subsidiaries except for those laws (i) which such court considers to be procedural in nature, (ii) which are revenue or penal laws or (iii) the application of which would be inconsistent with public policy, as such term is interpreted under the laws of the British Virgin Islands and the laws of India or such other jurisdiction applicable to the Company or any of its Subsidiaries. The Company or any of their respective properties, assets or revenues does not have any right of immunity under the laws of the British Virgin Islands and India or such other jurisdiction applicable to the Company or any of its Subsidiaries or New York law, from any legal action, suit or proceeding, from the giving of any relief in any such legal action, suit or proceeding, from set-off or counterclaim, from the jurisdiction of any British Virgin Islands and India or such other jurisdiction applicable to the Company or any of its Subsidiaries or any New York or United States federal court, from service of process, attachment upon or prior to judgment, or attachment in aid of execution of judgment, or from execution of a judgment, or other legal process or proceeding for the giving of any relief or for the enforcement of a judgment, in any such court, with respect to its obligations, liabilities or any other matter under or arising out of or in connection with the Transaction Documents; and, to the extent that the Company, or any of its properties, assets or revenues may have or may hereafter become entitled to any such right of immunity in any such court in which proceedings may at any time be commenced, the Company hereby waives such right to the extent permitted by law and hereby consents to such relief and enforcement as provided in this Warrant and the other Transaction Documents.

14.建築；標題。本認股權證應被視為由公司 和持有人共同起草，不得對作為本認股權證起草人的任何人進行解釋。本認股權證的標題僅為便於參考，不構成本認股權證的一部分，也不影響本認股權證的解釋。除非持有人另行書面同意，否則本認股權證中使用但 其他交易文件中定義的術語應具有該等其他交易文件中在截止日期（定義見證券購買 協議）所賦予的含義。

15.爭議的解決。

(A)提交《爭端解決辦法》。^{(i)如果 發生與行使價、收盤銷售價、買入價、柏力克斯對價價值、觸發 事件柏力克斯價值、柏力克斯價值或公平市價或權證股份數量的算術計算有關的爭議（視情況而定）（包括但不限於與上述任何一項的確定有關的爭議），公司或 持有人（視情況而定）應通過傳真將爭議提交給另一方（A）如果是公司，則在引起爭議的情況發生後兩（2）個工作日內 ，或（B）如果是持有人，在持有人獲悉引起該等爭議的情況後，任何時間。如果持有人和本公司無法在第二次（2）之後的任何時間迅速解決與該 行使價、該收盤價、該買盤價、該布萊克斯科爾斯代價價值、觸發事件布萊克斯科爾斯價值、 布萊克斯科爾斯價值或該公平市價或權證股份數量的算術計算（視情況而定）有關的爭議}發送

)在本公司或持有人(視屬何情況而定)就該爭議向本公司或持有人(視屬何情況而定)發出初步通知後的第二個營業日，則持有人可自行選擇一家獨立、信譽良好的投資銀行來解決該爭議。

(Ii)持有人和本公司應分別向該投資銀行交付(A)根據第(15)節第一句如此提交的初始爭議材料的副本和(B)支持其對該爭議的立場的書面文件，在每種情況下，均不遲於下午5：00。(紐約時間)5日(5日)

這是

)緊接 持有人選擇此類投資銀行之日(“爭議提交截止日期”)之後的營業日(本文中緊隨其後的第(A)和(B)款中所指的文件統稱為“所需爭議文件”)(應理解並同意，如果持有人或公司未能在爭議提交截止日期前交付所有所需的爭議文件，則未能提交所有所需爭議文件的一方將不再有權(並在此放棄其權利)就該爭議向該投資銀行交付或提交任何書面文件或其他支持，而該投資銀行應僅根據在爭議提交截止日期前交付給該投資銀行的所需爭議文件來解決該爭議)。除非本公司與持有人雙方另有書面協議或該等投資銀行另有要求，否則本公司及持有人均無權向該投資銀行交付或提交與該爭議有關的任何書面文件或其他支持文件(所需爭議文件除外)。

(Iii)公司和持有人應促使投資銀行確定爭議的解決方案，並在爭議提交截止日期後十(10)個工作日內將該解決方案通知公司和持有人。該投行的費用和支出由本公司獨自承擔，該投行對該爭議的解決是最終的 並對沒有明顯錯誤的各方具有約束力。

(b) Miscellaneous. The Company expressly acknowledges and agrees that (i) this Section 15 constitutes an agreement to arbitrate between the Company and the Holder (and constitutes an arbitration agreement) under the rules then in effect under § 7501, et seq. of the New York Civil Practice Law and Rules (“CPLR”) and that the Holder is authorized to apply for an order to compel arbitration pursuant to CPLR § 7503(a) in order to compel compliance with this Section 15, (ii) a dispute relating to the Exercise Price includes, without limitation, disputes as to (A) whether an issuance or sale or deemed issuance or sale of Common Shares occurred under Section 2(b), (B) the consideration per share at which an issuance or deemed issuance of Common Shares occurred, (C) whether any issuance or sale or deemed issuance or sale of Common Shares was an issuance or sale or deemed issuance or sale of Excluded Securities, (D) whether an agreement, instrument, security or the like constitutes and Option or Convertible Security and (E) whether a Dilutive Issuance occurred, (iii) the terms of this Warrant and each other applicable Transaction Document shall serve as the basis for the selected investment bank’s resolution of the applicable dispute, such investment bank shall be entitled (and is hereby expressly authorized) to make all findings, determinations and the like that such investment bank determines are required to be made by such investment bank in connection with its resolution of such dispute (including, without limitation, determining (A) whether an issuance or sale or deemed issuance or sale of Common Shares occurred under Section 2(b), (B) the consideration per share at which an issuance or deemed issuance of Common Shares occurred, (C) whether any issuance or sale or deemed issuance or sale of Common Shares was an issuance or sale or deemed issuance or sale of Excluded Securities, (D) whether an agreement, instrument, security or the like constitutes and Option or Convertible Security and (E) whether a Dilutive Issuance occurred) and in resolving such dispute such investment bank shall apply such findings, determinations and the like to the terms of this Warrant and any other applicable Transaction Documents, (iv) the Holder (and only the Holder), in its sole discretion, shall have the right to submit any dispute described in this Section 15 to any state or federal court sitting in The City of New York, Borough of Manhattan in lieu of utilizing the procedures set forth in this Section 15 and (v) nothing in this Section 15 shall limit the Holder from obtaining any injunctive relief or other equitable remedies (including, without limitation, with respect to any matters described in this Section 15).

16. REMEDIES, CHARACTERIZATION, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF. The remedies provided in this Warrant shall be cumulative and in addition to all other remedies available under this Warrant and the other Transaction Documents, at law or in equity (including a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue actual and consequential damages for any failure by the Company to comply with the terms of this Warrant. The Company covenants to the Holder that there shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or provided for herein with respect to payments, exercises and the like (and the computation thereof) shall be the amounts to be received by the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or the performance thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder and that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event of any such breach or threatened breach, the holder of this Warrant shall be entitled, in addition to all other available remedies, to specific performance and/or temporary, preliminary and permanent injunctive or other equitable relief from any court of competent jurisdiction in any such case without the necessity of proving actual damages and without posting a bond or other security. The Company shall provide all information and documentation to the Holder that is requested by the Holder to enable the Holder to confirm the Company’s compliance with the terms and conditions of this Warrant (including, without limitation, compliance with Section 2 hereof). The issuance of shares and certificates for shares as contemplated hereby upon the exercise of this Warrant shall be made without charge to the Holder or such shares for any issuance tax or other costs in respect thereof, provided that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved in the issuance and delivery of any certificate in a name other than the Holder or its agent on its behalf.

17. 收繳、執行和其他費用的支付。如果（a）本認股權證交由律師 進行收款或執行，或通過任何法律程序收款或執行，或持有人以其他方式採取行動以收款 本認股權證項下應付的款項或執行本認股權證條款，或（b）發生任何破產、重組，公司接管 或影響公司債權人權利並涉及本權證項下的索賠的其他訴訟，則公司 應支付持有人因該等收款而產生的費用，強制執行或訴訟，或與此類破產、重組、接管或其他程序有關，包括但不限於律師費和支出。

18.轉移本認股權證可在未經本公司同意的情況下被要約出售、出售、轉讓或轉讓，但 證券購買協議第2（g）條可能另有要求的除外。

19.某些定義。就 本認股權證而言，以下術語應具有以下含義：

(A)“1933年法令”係指經修訂的1933年證券法及其下的規則和條例。

(B)“1934年法令”指經修訂的1934年證券交易法及其下的規則和條例。

(c)"額外 股份金額"是指，就任何給定的調整日期而言，該普通股股份總數等於轉換已發行優先股時可發行的普通股股份總數的100% （或將發行）給 持有人（或持有人的指定人）行使持有人的優先認股權證。（定義見證券購買協議 ）以替代換股價（定義見指定證書（定義見證券購買協議）） 自該調整日期起（不考慮指定證書中對轉換的任何限制）。

(d)“調整日期”指行使持有人任何優先認股權證的日期。

(e) "調整權"指就與任何發行或出售有關或 相關的任何證券而授予的任何權利（或根據第2節被視為發行或出售）普通股（本協議第3和第4節中所述類型 的權利除外）可能導致公司收到的與 有關的淨對價減少，或有關該等證券（包括但不限於任何現金結算權、現金調整或其他類似 權）。

(f)"關聯公司" 是指，就任何人而言，直接或間接控制該人，受該人控制，或與該人共同控制 的任何其他人，就本定義而言，“控制”一個人是指直接 或間接投票10%的權力，或更多具有普通投票權的股票，以選舉該人的董事，或通過合同或其他方式直接 或導致對該人的管理和政策的指導。

(g)"批准 股份計劃"指在本協議日期之前或之後 公司董事會批准的任何員工福利計劃，根據該計劃，可向任何員工、高級職員 或董事發行普通股和購買普通股的標準期權，以供其以上述身份向公司提供服務。

(h)"歸屬 當事人"統稱為下列個人和實體：（i）持有人 投資經理或其任何關聯公司或委託人直接或間接管理或建議的任何投資工具，包括任何基金、支線基金 或管理賬户，（ii）持有人的任何直接或間接關聯公司或任何前述者， （iii）與持有人或任何上述人士一起行事或可視為作為集團行事的任何人士及（iv）任何其他 其實益擁有本公司，根據《1934年法案》第13（d）條，其普通股將或可以與持有人和其他 歸屬方合併。為明確起見，上述內容的目的是使持有人和所有其他歸屬方共同遵守最大百分比。

(i) “Bid Price” means, for any security as of the particular time of determination, the bid price for such security on the Principal Market as reported by Bloomberg as of such time of determination, or, if the Principal Market is not the principal securities exchange or trading market for such security, the bid price of such security on the principal securities exchange or trading market where such security is listed or traded as reported by Bloomberg as of such time of determination, or if the foregoing does not apply, the bid price of such security in the over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg as of such time of determination, or, if no bid price is reported for such security by Bloomberg as of such time of determination, the average of the bid prices of any market makers for such security as reported in The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices) as of such time of determination. If the Bid Price cannot be calculated for a security as of the particular time of determination on any of the foregoing bases, the Bid Price of such security as of such time of determination shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved in accordance with the procedures in Section 15. All such determinations shall be appropriately adjusted for any share dividend, share split, share combination or other similar transaction during such period.^{(j) “Black Scholes Consideration Value” means the value of the applicable Option, Convertible Security or Adjustment Right (as the case may be) as of the date of issuance thereof calculated using the Black Scholes Option Pricing Model obtained from the “OV” function on Bloomberg utilizing (i) an underlying price per share equal to the Closing Sale Price of the Common Shares on the Trading Day immediately preceding the public announcement of the execution of definitive documents with respect to the issuance of such Option or Convertible Security (as the case may be), (ii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining term of such Option, Convertible Security or Adjustment Right (as the case may be) as of the date of issuance of such Option, Convertible Security or Adjustment Right (as the case may be), (iii) a zero cost of borrow and (iv) an expected volatility equal to the greater of 100% and the 30 day volatility obtained from the “HVT” function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day immediately following the date of issuance of such Option, Convertible Security or Adjustment Right (as the case may be).}(K)“Black Scholes Value”是指在持有人根據第4(C)(I)節提出請求之日 剩餘的本認股權證未行使部分的價值，該價值是使用Black Scholes期權定價模型計算的，該定價模型從Bloomberg的“OV” 功能獲得，利用(I)每股標的價格等於(1)在緊接適用的基本交易(或適用的基本交易完成)之前的交易日開始的期間內普通股的最高收盤價 。如果較早)，並在持有人根據第4(C)(I)條提出請求的交易日結束 和(2)適用的基本交易中以現金形式提出的每股價格(如果有)加上適用的基本交易中提出的非現金對價(如果有)的總和，(Ii)等於根據第4(C)(I)條提出請求之日有效的行使價的執行價格 ，(Iii)相當於美國國債利率的無風險利率 ，期限等於(1)持有人根據第4(C)(I)條提出請求之日起本認股權證剩餘期限和(2)本認股權證剩餘期限截至適用基礎交易完成之日或持有人根據第4(C)(I)條提出請求之日起的剩餘期限(如果該請求 早於適用基礎交易完成之日)，(Iv)零借貸成本和(V)預期波動率 等於100%和從彭博的“hvt”功能獲得的30天波動率(使用365天年化係數確定)，截至(A)公開披露 適用的基本交易和(B)持有人根據第4(C)(I)條提出要求的日期中最早發生的交易日。

(l)“Bloomberg” 指Bloomberg，L.P.^{(M)“營業日”是指除星期六、星期日或其他日以外的任何一天，紐約市的商業銀行在這一天被授權或法律要求繼續關閉；但為澄清起見，只要紐約市商業銀行的電子轉賬系統(包括電匯轉賬)在這一天對客户開放，商業銀行不應被視為獲得授權或被法律要求繼續關閉，只要在這一天，紐約市商業銀行的電子轉賬系統(包括電匯系統)通常對客户開放，則不應因“待在家裏”、“原地避難”、 “非必要僱員”或任何其他類似命令或限制或在任何政府當局的指示下關閉任何實體分支機構而被視為獲得授權或被法律要求繼續關閉。}(N)“指定證書”具有《證券購買協議》中賦予該術語的含義。

(O)“收盤價”指，對於截至任何日期的任何證券，指彭博社報道的該證券在主要市場的最後收盤價， ，或者，如果主要市場開始延長營業時間並且沒有指定收盤價，則指紐約時間下午4：00之前該證券的最後交易價，如彭博社報道，或者，如果主要市場不是該證券的主要證券交易所或交易市場，彭博社報告的該證券在上市或交易的主要證券交易所或交易市場的最後交易價格，如果上述規定不適用，則為彭博社報告的該證券在電子公告板上的場外交易市場的該證券的最後交易價格，或者，如果彭博社沒有報告該證券的最後交易價格，任何做市商在粉色公開市場(或接替其報告價格職能的類似組織或機構)報告的該等證券的平均要價。 如果無法在上述任何基準上計算某一證券在特定日期的收盤價，則該證券在該日期的收盤價 應為本公司與持有人共同確定的公允市場價值。如果本公司和 持有人無法就此類證券的公平市場價值達成一致，則此類爭議應按照第15節中的程序解決。在此期間，所有此類決定均應針對任何股息、股份拆分、股份合併或其他類似交易進行適當調整。

(P)“普通股”指(I)本公司普通股，每股面值0.01美元，及(Ii)該等普通股應更改為的任何股本或因該等普通股重新分類而產生的任何股本。

(Q)“可轉換證券”指任何股票或其他證券(期權除外)，該證券或證券可在任何時間及任何情況下直接或間接轉換為任何普通股、可行使或可交換，或以其他方式使持有人有權獲得任何普通股。

(R)“符合條件的市場”是指紐約證券交易所、紐約證券交易所美國交易所、納斯達克全球精選市場、納斯達克全球市場或主要市場。

(S)“事件 市價”是指就任何股份合併事件日期而言，將(X)在截至該股票合併事件日期後第十六(16)個交易日的連續二十(20)個交易日內最低的五(5)個交易日的普通股平均市值之和除以(Y) 五(5)個交易日所得的商數。所有此類決定均應針對該期間的任何股息、股份拆分、股份合併、資本重組或其他類似交易進行適當調整。

(t) “Triggering Event Black Scholes Value” means the value of the unexercised portion of this Warrant remaining on the date of the Holder’s request pursuant to Section 4(c)(ii), which value is calculated using the Black Scholes Option Pricing Model obtained from the “OV” function on Bloomberg utilizing (i) an underlying price per share equal to the highest Closing Sale Price of the Common Shares during the period beginning on the date of the occurrence of the Triggering Event through the date all Triggering Events have been cured (assuming for such purpose that the Preferred Shares remain outstanding) or, if earlier, the Trading Day of the Holder’s request pursuant to Section 4(c)(ii), (ii) a strike price equal to the Exercise Price in effect on the date of the Holder’s request pursuant to Section 4(c)(ii), (iii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the greater of (1) the remaining term of this Warrant as of the date of the Holder’s request pursuant to Section 4(c)(ii) and (2) the remaining term of this Warrant as of the date of the occurrence of such Triggering Event, (iv) a zero cost of borrow and (v) an expected volatility equal to the greater of 100% and the 30 day volatility obtained from the “HVT” function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day immediately following later of (x) the date of the occurrence of such Triggering Event and (y) the date of the public announcement of such Triggering Event.

(u) “Excluded Securities” means (i) Common Shares or standard options to purchase Common Shares issued to directors, officers or employees of the Company for services rendered to the Company in their capacity as such pursuant to an Approved Share Plan (as defined above), provided that (A) all such issuances (taking into account the Common Shares issuable upon exercise of such options) after the Subscription Date pursuant to this clause (i) do not, in the aggregate, exceed more than 10% of the Common Shares issued and outstanding immediately prior to the Subscription Date and (B) the exercise price of any such options is not lowered, none of such options are amended to increase the number of shares issuable thereunder and none of the terms or conditions of any such options are otherwise materially changed in any manner that adversely affects any of the Buyers; (ii) Common Shares issued upon the conversion or exercise of Convertible Securities (other than standard options to purchase Common Shares issued pursuant to an Approved Share Plan that are covered by clause (i) above) issued prior to the Subscription Date, provided that the conversion price of any such Convertible Securities (other than standard options to purchase Common Shares issued pursuant to an Approved Share Plan that are covered by clause (i) above) is not lowered, none of such Convertible Securities (other than standard options to purchase Common Shares issued pursuant to an Approved Share Plan that are covered by clause (i) above) are amended to increase the number of shares issuable thereunder and none of the terms or conditions of any such Convertible Securities (other than standard options to purchase Common Shares issued pursuant to an Approved Share Plan that are covered by clause (i) above) are otherwise materially changed in any manner that adversely affects any of the Buyers; (iii) the Common Shares issuable upon conversion of the Preferred Shares or otherwise pursuant to the terms of the Certificate of Designations; provided, that the terms of the Certificate of Designations are not amended, modified or changed on or after the Subscription Date (other than antidilution adjustments pursuant to the terms thereof in effect as of the Subscription Date) and (iv) the Common Shares issuable upon exercise of the SPA Warrants; provided, that the terms of the SPA Warrant are not amended, modified or changed on or after the Subscription Date (other than antidilution adjustments pursuant to the terms thereof in effect as of the Subscription Date).

(v)“日期”是指第五個（5）的日期

這是

)發行日期的週年紀念日，或如該日期適逢交易日以外的日子或沒有在主要市場進行交易的日子(“假日”)，則指 不是假日的下一個日期。

(W)“基本交易”是指(A)本公司應直接或間接地，包括通過子公司、關聯公司或其他方式，在一項或多項相關交易中，(I)與另一主體實體合併或合併(不論本公司是否尚存公司)，或(Ii)將本公司或其任何“重要附屬公司”(定義見S-X規則1-02)的全部或實質所有財產或資產出售、轉讓或以其他方式處置給一個或多個主體實體。 或(Iii)提出或允許一個或多個主體實體作出購買、要約收購或交換要約，或允許本公司受制於或使本公司的普通股受制於或受制於一個或多個作出購買的主體實體，且至少 (X)50%的已發行普通股、(Y)50%的已發行普通股的持有者接受購買、要約或交換要約，投標或交換要約未完成 ；或(Z)如此數量的普通股，使作出或參與或與任何作出或參與該等購買、要約或交換要約的任何主體 的所有主體共同成為至少50%的已發行普通股的實益擁有人(如1934年法令第13d-3規則所界定)，或(Iv)完成與一個或多個主體實體的股票或股份購買協議或其他業務合併(包括但不限於重組、資本重組、分拆或安排方案)，從而所有該等主體實體單獨或合計收購、(X)至少50%的已發行普通股，(Y)至少50%的已發行普通股，其計算方式為：所有訂立或參與或參與該購股協議或其他業務合併的主體所持有的任何普通股均為非已發行普通股；或(Z)使主體實體共同成為至少50%的已發行普通股的實益所有人(如1934年法令第13d-3條所界定的)的普通股數量，或(V)重組、資本重組或重新分類其普通股，(B)在一項或 多項相關交易中，本公司應直接或間接地允許任何主體實體個別或整體成為“受益的 所有者”(如1934年法令第13d-3條所界定)，直接或間接，無論是通過收購、購買、轉讓、投標、要約收購、交換、減持已發行普通股、合併、合併、企業合併、重組、資本重組、剝離、安排方案、重組、資本重組或重新分類或其他任何方式， 至少佔已發行和已發行普通股代表的總普通股投票權的50%的 。(Y)截至本認股權證日期 所有該等主體實體未持有的已發行及已發行普通股所代表的總普通投票權的至少50% ，按所有該等主體實體持有的任何普通股並非已發行的普通股計算，或(Z)本公司已發行和已發行的普通股或其他股權證券所代表的總普通投票權的一個百分比 ，足以允許該等主體實體實施法定簡短合併或其他交易，要求本公司其他股東在未經本公司股東批准的情況下交出其普通股，或(C)在一項或多項相關交易中直接或間接，包括通過 子公司、關聯公司或其他方式，發行或訂立任何其他文書或交易，以規避或規避，本定義的意圖，在這種情況下，本定義的解釋和實施方式不應嚴格符合本定義的條款，以糾正本定義或本定義中可能存在缺陷或與此類文書或交易的預期處理方式不一致的任何部分。

(X)“團體” 係指1934年法令第13(D)節中使用的“團體”，其定義見下文第13d-5條。

(y)"最大 資格編號"指，在任何確定時間，當時有效的認股權證編號（可根據上文第2節和本定義進行調整），但應在每個調整日期自動增加等於額外股份金額的普通股股份總數 。

(z)"期權" 指任何認購或購買普通股或可轉換證券的權利、認股權證或期權。

(aa)個人的"母實體" 是指直接或間接控制適用個人的實體，其普通股或同等股權 證券在合格市場上報價或上市，或者，如果存在多個此類個人或母實體，則指截至基本交易完成之日具有最大公開市值的個人或母實體 。

(bb)"個人" 是指個人、有限責任公司、合夥企業、合資企業、公司、信託、非法人組織、 任何其他實體或政府或其任何部門或機構。

(cc)"優先 股"具有證券購買協議中賦予該術語的含義，並應包括為交換或替代而發行的所有優先 股。

(dd)"主要 市場"指納斯達克資本市場。

(ee)"登記 權利協議"指公司與 優先股初始持有人之間於截止日期簽署的某些登記權利協議，其中涉及（除其他事項外）優先股轉換或根據指定證書的條款和SPA 認股權證的行使後， 可發行普通股轉售的登記，可不時修訂。

(ff)“SEC”指美國證券交易委員會或其繼承者。

(gg)"主體 實體"是指任何個人、個人或團體，或任何此類個人、個人或團體的任何關聯機構或關聯方。

(hh)"繼承 實體"是指由任何基本 交易形成、產生或存續的人（或，如果持有人選擇，則為母實體），或與該基本交易 已經進行的人（或，如果持有人選擇，則為母實體）。

(ii)"交易 日"指（如適用）（x）就與普通股有關的所有價格或交易量確定而言，普通股在主要市場交易的任何 日，或者，如果主要市場不是普通股的主要交易市場，則指在主要證券交易所或普通股隨後交易的證券市場交易日，條件是， "交易日"不包括普通股計劃在該交易所或市場交易時間少於 的任何日期，或普通股在該交易所或市場交易的最後一小時暫停交易的任何日期 （或如果該交易所或市場未事先指定該交易所或市場的交易結束時間，則在 下午4：00：00結束的一小時內，紐約時間），除非持有人以書面形式另行指定該日為交易日，或（y） 有關普通股價格或交易量以外的所有決定，紐約證券交易所（或其任何後繼者）開放證券交易的任何一日。

(jj) “VWAP” means, for any security as of any date, the dollar volume-weighted average price for such security on the Principal Market (or, if the Principal Market is not the principal trading market for such security, then on the principal securities exchange or securities market on which such security is then traded), during the period beginning at 9:30 a.m., New York time, and ending at 4:00 p.m., New York time, as reported by Bloomberg through its “VAP” function (set to 09:30 start time and 16:00 end time) or, if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter market on the electronic bulletin board for such security during the period beginning at 9:30 a.m., New York time, and ending at 4:00 p.m., New York time, as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any of the market makers for such security as reported in The Pink Open Market (or a similar organization or agency succeeding to its functions of reporting prices). If the VWAP cannot be calculated for such security on such date on any of the foregoing bases, the VWAP of such security on such date shall be the fair market value as mutually determined by the Company and the Holder. If the Company and the Holder are unable to agree upon the fair market value of such security, then such dispute shall be resolved in accordance with the procedures in Section 15. All such determinations shall be appropriately adjusted for any share dividend, share split, share combination, recapitalization or other similar transaction during such period.

簽名頁面如下

茲證明，本公司已促使本認股權證於上述發行日期正式籤立，以購買普通股。

Lytus Technologies Holdings PTV。LTD.

發信人：^姓名：標題：

附件A

行使通知

由註冊持有人執行 執行此 命令以購買普通股

LYTUS 公司控股PTV.公司

以下籤署的持有人特此 選擇行使第__號普通股購買權證（"

Lytus Technologies Holdings PTV的認股權證。有限公司，根據英屬維爾京羣島法律組建的公司（“公司”），具體如下。此處使用的大寫 術語（未另行定義）應具有認股權證中規定的各自含義。

1.行權價格表 持有者打算以下列方式支付總行使價：

對於_

與_

如果持有人 已選擇對根據本協議發行的部分或全部認股權證股票進行無現金行使，持有人在此代表 並保證：(I)本行使權通知由持有人於_

上午

下午3點

在下列日期及(Ii) (如適用)，於執行本行使通知時的投標價格為_美元。

2.行權價支付 。如持有人已就根據本協議發行的部分或全部認股權證股份選擇現金行使，則持有人須根據認股權證的條款向本公司支付合計行使價_。

[3.交付 認股權證股份。公司應根據認股權證的條款向持有人或其指定人或代理人交付_普通股 。應按以下方式交付持有人或為其利益：]

☐如果請求將證書作為證書發送到以下名稱和地址，請在此處選中 ：

帳號：

日期：_

登記持有人姓名或名稱

發信人：

姓名：標題：

税務標識：_

附件B[確認][ 公司特此確認本行使通知，並特此指示_]Lytus Technologies Holdings PTV.公司

發信人：

姓名：

標題：

☐ Check here if requesting delivery by Deposit/Withdrawal at Custodian as follows:

Tax ID:_________________________________

Facsimile:_______________________________

E-mail Address:__________________________

EXHIBIT B

ACKNOWLEDGMENT

The Company hereby acknowledges this Exercise Notice and hereby directs ______________ to issue the above indicated number of Common Shares in accordance with the Transfer Agent Instructions dated _________, 202_, from the Company and acknowledged and agreed to by _______________.