附件99.3

本安防-半导体，以及本安防-半导体可行权的证券，并未在美国证券交易委员会或任何州证券委员会下注册，依赖于《1933年证券法》修订案（“证券法”）的注册豁免，并且因此可能不得以除根据证券法项下生效的注册声明或根据现有的豁免，或在不受证券法注册要求限制的交易中出售、质押，或以其他方式分配或转让，并且按照适用的州证券法，并且在每种情况下，公司与托管机构已经收到了理事会意见，对他们各自而言，表明此类交易不需要根据证券法注册。

认购普通股权证书

以美国存托凭证代表

团车网有限公司

本授权证明书用于购买由美国存托股份代表的普通股份（以下简称“权限证书”），证明[_____________]或其受让人（以下简称“持有人”）有权根据下文约定的条款和条件，在此之后的任何时间（“初始行权日期”）和初始行权日期五（5）年周年纽约时间下午5:00（“终止日期”）之前但不得以后，向团车网有限公司（以下简称“公司”），订阅并购买至多[______]普通股份（以下简称“权限股份”），由[_____]美国存托股份代表（“ADS”）所代表，如根据下文调整（“权限ADS”）。本许可证下的一份权限ADS的购买价格应等于行权价格，如第2（b）条所定义。

冲突矿物披露。. 定义。 本协议中使用但未另行定义的大写字词应具有《证券购买协议》中规定的含义，该协议日期为2024年[__年__月__日]，由公司和签署人签署。

第2节. 行权.

a) 行权 权证行使本权证所代表的购买权可以在初始行使日期之后的任何时间全部或部分行使，在终止日期之前通过电子邮件（或电子邮件附件）提交一份正式执行的PDF副本格式的行使通知（以下简称“行使通知”）提交给公司。在如上述行使日期之后两个（2）个交易日内且标准结算期（在本部分2(d)(i)中定义）所包括的交易日数量之内的后一个，持有人应当通过电汇或抽头支票画在美国银行上支付购买并在适用的行使通知中规定的权证ADSs的行使价。除非适用的行使通知中规定了下文2(c)节指定的无现金行使程序，否则不需要提供原件行使通知，也不需要提供任何钢印担保（或其他类型的担保或公证）的行使通知。尽管本文件中有任何相反规定，持有者不需要在购买所有在此可用的权证ADSs的权证之前将本权证实物交还给公司，并且权证被全部行使后，持有者应当在有关公司收到最终行使通知之后尽快将本权证交还给公司予以注销。行使本权证部分导致购买本权证下可用的全部权证ADSs的情形将导致削减本权证下可购买的权证ADSs的未偿余额数额等于已购买的权证ADSs的数量。持有者和公司应当保留显示已购买的权证ADSs数量和购买日期的记录。公司应当在收到任何通知后的一个（1）个工作日内提出任何异议。 持有人和任何受让人在接受本权证时，承认并同意，由于本段的规定，购买本文所述的一部分权证ADS之后，任何给定时间可购买的权证ADS数量可能会小于本权证正面所述的金额。

b) 行使价格根据本授予证书第2(c)条的规定，本认股权证每个ADS的行使价格为$[___]，根据本约定进行调整 （“行使价格”）。

c) 无现金行权如果在距离认股权证初始发行日后6个月后的日期，在此行使时 持有人尚未有有效的注册声明书，也没有可供其转售认股权证股票的现行招股说明书可用，则认股权证 在此时也可全数或部分行使，以“无现金行使”方式，持有人有权收到认股权ADS数量，其计算方法为[(A-B) (X)]除以(A)，其中:

(A) = 根据具体情况： （i）如果这样的行权通知书日期的前一个交易日的成交量加权平均价格等于适用的通知书（1）根据本约定的第2(a)部分执行和送达的交易日，但不是交易日，或（2）根据本约定的第2(a)部分在交易日“正规交易时间”（根据联邦证券法规NMS规则600(b)(68)下发布的规定）之前执行和送达的，或者根据Bloomberg L.P.（“Bloomberg”）报告的ADSs在主要交易市场的最高买盘价格在持有人执行适用的行权通知的时间时（如果这样的行权通知在交易日“正规交易时间”内执行并在之后两个小时内交付（包括在交易日“正规交易时间”结束后两小时内）根据本约定的第2（a）部分或（iii）如果这样的行权通知书的日期是一个交易日并且这样的行权通知书是在该交易日的“正规交易时间”结束后根据本约定的第2(a)部分执行和送达的，则为适用行权通知书日期的成交量加权平均价格；

(B) = 根据此处进行调整的本认股证的行权价格；和

(X) = 根据这个认股权协议的条款行使选项时由认购人承购的认股ADS的数量，如果该行权是以现金行权而不是无现金行权。

如果认股权ADS以无现金行使而发行，则各方承认并同意，根据证券法第3(a)(9)条的规定，正在发行的认股权ADS的持有期可能会附加到本认股权的持有期。公司同意不采取任何与本2(c)部分相悖的立场。

“买盘价” 意味着，对于任何日期，根据适用的以下第一个条款确定的价格：(a) 如果此时ADS在交易市场上报价或上市，则根据Bloomberg报告的该交易市场上ADS的买盘价格（基于纽约时间上午9:30到下午4:02之间的交易日）的时间价格（或最近的前一个日期），(b) 如果OTCQb或OTCQX不是交易市场，则适用当日（或最近的前一个日期）在OTCQb或OTCQX的ADS的成交量加权平均价格，(c) 如果此时ADS未在OTCQb或OTCQX上报价或交易，且如果ADS的价格是在The Pink Open Market（或类似接替其价格报告功能的组织或机构）上报告的，则根据该报告的ADS每股买盘价格中最近的报价，或(d) 在所有其他情况下，由优先持有该时期尚未清偿的证券大部分利益的持有人善意选择的独立评估师确定的一个ADS的公允市场价值，该评估师的费用和开支应由公司支付。

““VWAP”表示任何日期上任何证券的美元成交量加权平均价格，在纳斯达克资本市场（或如果纳斯达克资本市场不是该证券的主要交易市场，那么在该证券的主要证券交易所或证券市场上，在该证券上从美国东部时间上午9:30开始，到美国东部时间下午4:00结束，在该证券上由彭博社通过其“VAP”功能报告的美元成交量加权平均价格(设置为9:30开始时间和16:00结束时间)；如果上述情况不适用，则为在该证券的场外市场上，该证券的电子公告板在美国东部时间上午9:30开始，到美国东部时间下午4:00，在彭博社报告的美元成交量加权平均价格，或者如果没有任何市场商报告该证券的美元成交量加权平均价格，则该证券市场制造商的最高收盘买入价与最低收盘卖出价的平均值从The Pink Open Market（或类似的机构或代理机构继承其报告价格的功能）或其他方式获得。如果无法计算该日期上该安全的VWAP，则该日期上该安全的VWAP将是我们和债券持有人共同确定的公平市场价值。如果我们和债券持有人无法就该证券的公平市场价值达成一致意见，那么这种争议应根据条款中规定的程序解决。对于所有这些决定应适当调整任何股票股利、股票分割、股票组合、资本重组或其他类似交易的加权平均价格。”表示，对于任何日期，由适用的以下条款中首先适用的条款决定的价格：(a)如果ADS随后在交易市场上市或报价，ADS的当日成交量加权平均价格(或最接近的前一日期)将由彭博有限合伙公司报告，作为ADS当前上市或报价的交易市场的当日成交量加权平均价格(基于纽约市时间上午9:30至下午4:02的交易日时间)，(b)如果OTCQB创业公司市场("OTCQB")或OTCQX最佳市场("OTCQX")不是交易市场，则ADS的当日成交量加权平均价格(或最接近的前一日期)将由OTCQB或OTCQX适用，(c)如果ADS当时未在OTCQB或OTCQX上市或报价进行交易，且ADS价格正在由OTC Markets，Inc.运营的粉红开放市场("粉红市场")或类似机构或组织以其报告价格的职能继任者报告，则按照每股ADS的最近报价报告的最近出价价格，或(d)在其他所有情形下，ADS的公允市场价值将由一家独立评估师以诚信和合理地由当时未偿还的证券权益的持有方择定并得到公司合理接受来确定，该评估师的费用和支出将由公司支付。

除非有相反规定，否则在终止日期，本认股权将通过免现金行使根据本第2(c)条自动行使。

d) 锻炼的机理.

i. 在行使权证ADS时交付公司应导致在此处购买的认股权证股份通过美国纽约银行梅隆银行（以下简称“银行”），代表ADS的存托人（下称“存托人”）通过将认股权证股票的数量记入持有人或其指定的账户的存托人信托公司的存款或提取保管员系统（“DWAC”）向持有人发送，如果公司那时是该系统的参与者并且（A）存在有效的注册声明允许向认股权证股票持有人发行或转售认股权证ADS所代表的认股权证股份或（B）认股权证ADS所代表的认股权证股份对持有人无成交量或销售方式限制适用于《144条例》（假定对认股权证的无现金行使），否则通过向持有人在行使通知中指定的地址交付一份注册在公司的股份登记册上以持有人或其指定的名字持有持有人有资格根据行使取得的认股权证股份数交付的证书的物理交付，到达公司收到行使通知之后的（i）交易日和（ii）标准结算期间交付完整行使价格（除非以无现金行使方式）的最晚日期 (以下简称“认股权证ADS交付日期”)，在此日期之前，在此日期之前，提供了与行使相关的概括性行使价格（除非以无现金行使方式）并收到该认股权ADS交付日期（如果此类概括性行使价格（除非以无现金行使方式）未在此日期之后交付，认股权证ADS交付日期应为交付完整行使价格之后的两个（2）个交易日），在交付行使通知后，公司将在所有公司目的上将该持有人视为认股权证ADS的认股权证股份的有利所有者截至行使认股权证的日期，无视认股权证ADS的交付日期，前提是最晚在行使通知交付后的（i）两（2）个交易日和（ii）交付通知后的标准结算期间内的交易日数。 如果基于任何理由存托人未在认股权证ADS交付日期前交付给持有人与认股权证通知相关的认股权证ADS，公司应支付给持有人现金，作为已达成的赔偿，而不是作为处罚，每一$1,000的认股权证ADS受到此类行使的影响（以ADS的VWAP为基础税后的VWAP通告发布日期），每个交易日支付$10（从将认股权证ADS交付日期后第三个交易日增加为每个交易日的$20），直到认股权证ADS交付或持有人撤消该等行使。如用于此处，“标准结算期间” 表示在公司主要交易市场的标准结算期间，以交易日数表示，即在行使通知交付日期生效。

ii. 行使期权时，发行新的期权 。如果本期权被部分行使，公司应在持有人的请求和本期权证书的交割时，交付给持有人一份新的期权证明持有人购买本期权未购买的股票的权利，该新期权在其他方面与本期权完全相同。如果这份认股权证已经部分行使，公司应在持有人的要求并在交付认股权证ADS时交出这份认股权证，交付给持有人一份新的认股权证，证明持有人有权购买此认股权证要求购买但尚未购买的认股权证ADS，此新认股权证在其他方面应与本认股权证完全相同。

iii. 撤销 权利.如果公司未能导致托管机构在Warrant ADS交付日期前按照2(d)(i)款向持有人交付Warrant ADS，则持有人有权撤销对未传输的Warrant ADS的行使（使得持有人根据本认股权证取得这些未传输的Warrant ADS的权利得以恢复），公司应当返还给持有人为这些未传输的Warrant ADS向公司支付的总行权价格的部分。

iv. 补偿 因未能及时交付认购权证ADS而引起的买入除了持有人享有的其他权利外，如果存托人未能根据上述第2(d)(i)款的规定在权证ADS交割日期之前根据行使要求向持有人交付权证ADS，并且在该日期之后，持有人被其券商要求购买（在开放市场交易或其他方式中）或者持有人的券商以其他方式购买ADS以满足持有人预期在此类行使时获取的出售由持有人的权证ADS所需，那么公司应（A）向持有人支付现金金额，如有任何的话，即（x）持有人购买此类ADS的总价格（包括佣金，如果有的话）超出（y）通过将产生此类购买义务的卖出订单执行价格乘以（1）公司未能交付给持有人的与有关行使有关的权证ADS数量和（2）执行该购买义务的价格之间的金额，和（B）由持有人选择，要么恢复关于相应数量的未获得行使的权证中的部分，并退还公司在对应的权证ADS的行使价格方面收到的任何金额（在这种情况下，此类行使将被视为被撤销），或者向持有人交付会在公司及时履行其在此文件中的行使和交付义务时发行的ADS数。例如，如果持有人购买总价值为$11,000的ADS以覆盖涉及总销售价格为$10,000的尝试行使权证所导致的购买义务，根据上述句子的第（A）条款，公司将需支付给持有人$1,000。持有人应向公司提供书面通知，指示应向持有人支付的购买金额，且在公司的请求下，应提供损失金额的证据。本文件中的任何条款均不限制持有人根据法律、法律、特约执行的裁定和/或关于公司未能按照此处规定的条款要求及时交付ADS的行使权等其他救济的权利。

v. 不发行碎股或认股权证ADSs在行使本认股权证时不会发行任何认股权证ADSs的碎股。 关于持有人本应在行使中获得购买的ADS的任何部分，公司可选择 以等于该部分乘以行使价格的金额支付现金调整，或者 将其上调至下一个整数ADS；但是，如果将ADS的部分上调至下一个整数ADS导致发行价格低于ADS的票面价值，则不得进行上调。

vi. 收费、税费和费用发行认股权证ADS应当无需向持有人收取任何发行或转让税或其他杂费，所有这些税款和费用应由公司支付，并且应将该认股权证ADS以持有人的名义或持有人指定的名义发行；但前提是，如果认股权证ADS将以非持有人名义发行，则行使时应连同持有人签署并执行的附表一《指定书》一并交付，公司可能要求作为控件条件支付足以偿还任何与此相关的过户税的款项。公司应支付因发行认股权证ADS而必须支付的所有与其同日电子发行和交付认股权证ADS以及发行本合同下认股权证ADS所涉定存机构的所有相关费用和支出。

vii. 结账 公司不会以任何方式关闭其股东登记簿或档案，从而阻止及时行使本认股权证，根据本协议的条款；但是，前述不得被视为或解释为限制托管人根据包括但不限于公司和托管人之间的存托协议的条款和规定享有的任何权利。

e) 持有人的行使限制尽管本文件中包含任何相反的内容，公司不得行使此认股权证，持有人也没有权利根据第2条或其他规定行使此认股权证的任何部分，因为在进行行使后发行的效果如适用的行使通知中所规定，持有人（连同持有人的关联公司和任何作为一组与持有人或其中任何持有人的关联方一起行动的其他人（这些人称为“归属方”））将获得对受益拥有的普通股超过受益拥有限制（如下所定义）。 对于上述句子，持有人及其关联公司和归属方拥有的普通股数量将包括持有人是否拥有以下此认股权证可行使ADSs的普通股数量，但将不包括持有人或其关联公司或归属方拥有的尚未行使的认股权证剩余部分或任何其他公司证券的尚未行使或未转换部分的普通股数量（包括但不限于任何其他普通股等效证券），该公司证券受限于与本规定类似的转换或行使限制，并由持有人或其关联公司或归属方拥有。 除前述句子规定外，在本第2条(e)节目的目的，受益拥有将根据《证券交易法》第13(d)节和在其下制定的规则及法规进行计算，持有人事先承认公司没有向持有人表示此计算符合《证券交易法》第13(d)节的规定，持有人将全部负责根据其进行需要提交的安排。 如本第2条(e)节中所述的限制适用，本认股权是否可行（相对于任何合作方共同拥有的其他公司证券）以及这本认股权的哪部分可行应该由持有人自行决定，并提出行使通知应被视为持有人决定此认股权是否可行（就其他公司证券而言，这些公司证券是由持有人连同任何关联方和归属方共同拥有的）和此认股权的哪部分可行，每种情况均受益拥有限制的约束，公司无需验证或确认此等决定的准确性。 此外，如上面所设想的任何团体身份的确定应根据《证券交易法》第13(d)节和隶属机构颁布的规则和规定进行确定。 为本第2条(e)节目的目的，在决定普通股的未被声明的数量时，持有人可以依赖于（A）公司最近的在美国证券交易委员会提交的20-F表格、6-k报告或其他公开申报，（B）公司更近期的公开声明或（C）公司或托管人发出的更近期的书面通知传达的普通股数量。 在持有人的书面或口头要求后，该公司应于一（1）个交易日内向持有人口头和书面确认普通股的数量。 在交易日后，持有的一方或其关联公司或归属方进行的公开公告以及持有的一方披露的截至至此前述普通股数量以来进行的公司证券转换或行使后，将由现有普通股数量确定。 “受益拥有限制”将是[4.99%][9.99%]，即使新发行股票后的人均普通股数。 持有人在通知公司后，可以增加或减少本第2条(e)节的受益拥有限制条款，但任何情况下，受益拥有限制不得超过新发行普通股的9.99%的普通股数量，转换或行使此认股权证后由持有方持有，本第2条(e)的相关规定将继续适用。 任何关于受益拥有限制增加的声明将在递交给公司后第61天方能生效。 本段规定将被解释和执行，以非严格遵守本第2条(e)节的条款的方式，以更正或修改此合理所有权限制内所含有的本段（或本段任何部分）可能有缺陷或与预期的受益所有权限制不一致的地方，或进行必要或理想的更正或补充以正确地给予此类限制效力。 本段中包含的限制将适用于此认股权的继任持有人。

第三节. 某些 调整.

a) 股票分红和拆分. 如果公司在本认股权有效期间的任何时间内：(i) 支付股息或以其他方式向其ADSs或普通股或任何其他以ADSs或普通股支付的股权或股权等价证券进行分配（明确排除公司行使本认股权时发行的任何普通股或ADSs），(ii) 将流通中的普通股或ADSs细分为更多份普通股或ADSs，如适用，(iii) 合并（包括通过逆向股份合并的方式）流通中的ADSs或普通股为更少份普通股或ADSs，如适用，或(iv) 通过重新分类ADSs、普通股或公司的任何股本股份发行股票，则在每种情况下，行使价格将乘以一个分数，其分子为该事件前即时流通的ADSs（如有任何库藏股票除外），分母为该事件后即时流通的ADSs，且可行使本认股权获得的股份数将按比例调整，以使本认股权的行使价格总额保持不变。根据本第3条(a)条款做出的任何调整，将在确定有权获得该股息或分配的股东的记录日期后立即生效，在细分、合并或重新分类的情况下，在生效日期后立即生效。

b) Reserved.

c) Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 3(a) above, if at any time the Company grants, issues or sells any Ordinary Share Equivalents or rights to purchase shares, warrants, securities or other property pro rata to the record holders of any class of ADSs (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 ADSs acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) 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 ADSs are to be determined for the grant, issue 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 exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial ownership of such ADSs as a result of such Purchase Right to such extent) and such Purchase Right to such extent shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

d) Pro Rata Distributions. During such time as this Warrant is outstanding, if the Company shall declare or make any dividend or other distribution of its assets (or rights to acquire its assets) to holders of Ordinary Shares or ADSs, by way of return of capital or otherwise (including, without limitation, any distribution of cash, shares or other securities, property or options 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 ADSs acquirable upon complete exercise of this Warrant (without regard to any limitations on exercise hereof, including without limitation, the Beneficial Ownership Limitation) immediately before the date of which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of Ordinary Shares or ADSs 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 exceeding the Beneficial Ownership Limitation, then the Holder shall not be entitled to participate in such Distribution to such extent (or in the beneficial ownership of any Ordinary Shares or ADSs as a result of such Distribution to such extent) and the portion of such Distribution shall be held in abeyance for the benefit of the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding the Beneficial Ownership Limitation).

e) Fundamental Transaction. If, at any time while this Warrant is outstanding, (i) the Company, directly or indirectly, in one or more related transactions effects any merger or consolidation of the Company with or into another Person, (ii) the Company, directly or indirectly, effects any sale, lease, exclusive license, assignment, transfer, conveyance or other disposition of all or substantially all of its assets in one or a series of related transactions, (iii) any, direct or indirect, purchase offer, tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Ordinary Shares (including any Ordinary Shares underlying the ADSs) are permitted to sell, tender or exchange their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Ordinary Shares or 50% or more of the voting power of the common equity of the Company (including any Ordinary Shares underlying the ADSs), (iv) the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization or recapitalization of the Ordinary Shares or any compulsory share exchange pursuant to which the Ordinary Shares effectively converted into or exchanged for other securities, cash or property, or (v) the Company, directly or indirectly, in one or more related transactions consummates a share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off, merger or scheme of arrangement) with another Person or group of Persons whereby such other Person or group acquires 50% or more of the outstanding Ordinary Shares (including any Ordinary Shares underlying the ADSs) or 50% or more of the voting power of the common equity of the Company (each a “Fundamental Transaction”), occurs or is consummated, then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share represented by each Warrant ADSs that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental Transaction, at the option of the Holder (without regard to any limitation in Section 2(e) on the exercise of this Warrant), the number of shares of capital stock of the successor or acquiring corporation or of the Company, if the Company is the surviving corporation, and any additional consideration (the “Alternate Consideration”) receivable as a result of such Fundamental Transaction by a holder of the number of Warrant Shares represented by the Warrant ADSs for which this Warrant is exercisable immediately prior to such Fundamental Transaction (without regard to any limitation in Section 2(e) on the exercise of this Warrant). For purposes of any such exercise, the determination of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate Consideration issuable in respect of one Ordinary Share (including any Warrant Shares underlying the ADSs), in such Fundamental Transaction, and the Company shall apportion the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components of the Alternate Consideration. If holders of Ordinary Shares are given any choice as to the securities, cash or property to be received in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon any exercise of this Warrant following such Fundamental Transaction. Notwithstanding anything to the contrary, in the event of a Fundamental Transaction, the Company or any Successor Entity (as defined below) shall, at the Holder’s option, exercisable at any time concurrently with, or within 30 days after, the consummation of the Fundamental Transaction (or, if later, the date of the public announcement of the applicable Fundamental Transaction), purchase this Warrant from the Holder by paying to the Holder an amount of cash equal to the Black Scholes Value (as defined below) of the remaining unexercised portion of this Warrant on the date of the consummation of such Fundamental Transaction; provided, however, that, if the Fundamental Transaction is not within the Company's control, including not approved by the Company's Board of Directors, the Holder shall only be entitled to receive from the Company or any Successor Entity the same type or form of consideration (and in the same proportion), at the Black Scholes Value of the unexercised portion of this Warrant, that is being offered and paid to the holders of ADSs of the Company in connection with the Fundamental Transaction, whether that consideration be in the form of cash, stock or any combination thereof, or whether the holders of ADSs are given the choice to receive from among alternative forms of consideration in connection with the Fundamental Transaction; provided, further, that if holders of ADSs of the Company are not offered or paid any consideration in such Fundamental Transaction, such holders of ADSs will be deemed to have received common stock of the Successor Entity (which Entity may be the Company following such Fundamental Transaction) in such Fundamental Transaction. “Black Scholes Value” means the value of this Warrant based on the Black-Scholes Option Pricing Model obtained from the “OV” function on Bloomberg determined as of the day of consummation of the applicable Fundamental Transaction for pricing purposes and reflecting (A) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the time between the date of the public announcement of the applicable contemplated Fundamental Transaction and the Termination Date, (B) an expected volatility equal to the greater of (a) 100% and (b) the greater of (1) the 30 day volatility, (2) the 100 day volatility or (3) the 365 day volatility, each of clauses (1)-(3) as obtained from the HVT function on Bloomberg (determined utilizing a 365 day annualization factor) as of the Trading Day immediately following the public announcement of the applicable contemplated Fundamental Transaction, (C) the underlying price per ADS used in such calculation shall be the highest VWAP during the period beginning on the Trading Day immediately preceding the public announcement of the applicable contemplated Fundamental Transaction (or the consummation of the applicable Fundamental Transaction, if earlier) and ending on the Trading Day of the Holder’s request pursuant to this Section 3(e) and (D) a remaining option time equal to the time between the date of the public announcement of the applicable contemplated Fundamental Transaction and the Termination Date and (E) a zero cost of borrow. The payment of the Black Scholes Value will be made by wire transfer of immediately available funds (or such other consideration) within the later of (i) five Business Days of the Holder’s election and (ii) the date of consummation of the Fundamental Transaction. The Company shall cause any successor entity in a Fundamental Transaction in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the Company under this Warrant and the other Transaction Documents in accordance with the provisions of this Section 3(e) pursuant to written agreements in form and substance reasonably satisfactory to the Holder and approved by the Holder (without unreasonable delay) prior to such Fundamental Transaction and shall, at the option of the Holder, 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 which is exercisable for a corresponding number of shares of capital stock of such Successor Entity (or its parent entity) equivalent to the Warrant Shares underlying the Warrant ADSs 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 shares of capital stock (but taking into account the relative value of the Ordinary Shares underlying the Warrant ADSs pursuant to such Fundamental Transaction and the value of such shares of capital stock, such number of shares of capital stock 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 which is reasonably satisfactory in form and substance to the Holder. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall be added to the term “Company” under this Warrant (so that from and after the occurrence or consummation of such Fundamental Transaction, each and every provision of this Warrant and the other Transaction Documents referring to the “Company” shall refer instead to each of the Company and the Successor Entity or Successor Entities, jointly and severally), and the Successor Entity or Successor Entities, jointly and severally with the Company, may exercise every right and power of the Company prior thereto and the Successor Entity or Successor Entities shall assume all of the obligations of the Company prior thereto under this Warrant and the other Transaction Documents with the same effect as if the Company and such Successor Entity or Successor Entities, jointly and severally, had been named as the Company herein. For the avoidance of doubt, the Holder shall be entitled to the benefits of the provisions of this Section 3(e) regardless of (i) whether the Company has sufficient authorized Ordinary Shares for the issuance of Warrant Shares and/or (ii) whether a Fundamental Transaction occurs prior to the Initial Exercise Date.

f) Calculations. All calculations under this Section 3 shall be made to the nearest cent or the nearest 1/100th of an ADS, as the case may be. For purposes of this Section 3, the number of Ordinary Shares deemed to be issued and outstanding as of a given date shall be the sum of the number of Ordinary Shares (including Ordinary Shares underlying ADSs, but excluding treasury shares, if any) issued and outstanding.

g) Notice to Holder.

i. Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section 3, the Company shall promptly deliver to the Holder by email a notice setting forth the Exercise Price after such adjustment and any resulting adjustment to the number of Warrant ADSs and setting forth a brief statement of the facts requiring such adjustment.

ii. Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on the Ordinary Shares or ADSs, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Ordinary Shares or ADSs, (C) the Company shall authorize the granting to all holders of the Ordinary Shares or ADSs rights or warrants to subscribe for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any shareholders of the Company shall be required in connection with any reclassification of the Ordinary Shares or ADSs, any consolidation or merger to which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any compulsory share exchange whereby the Ordinary Shares are converted into other securities, cash or property, or (E) the Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, then, in each case, the Company shall cause to be delivered by email to the Holder at its last email address as it shall appear upon the Warrant Register of the Company, at least 20 calendar days prior to the applicable record or effective date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend, distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the Ordinary Shares or ADSs of record to be entitled to such dividend, distributions, redemption, rights or warrants are to be determined or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become effective or close, and the date as of which it is expected that holders of the Ordinary Shares (including Warrant Shares underlying Warrant ADSs) of record shall be entitled to exchange their Ordinary Shares for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to deliver such notice or any defect therein or in the delivery thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided in this Warrant constitutes, or contains, material, non-public information regarding the Company or any of the Subsidiaries, the Company shall simultaneously file such notice with the Commission pursuant to a Report on Form 6-K. The Holder shall remain entitled to exercise this Warrant during the period commencing on the date of such notice to the effective date of the event triggering such notice except as may otherwise be expressly set forth herein.

Section 4. Transfer of Warrant.

a) Transferability. Subject to compliance with any applicable securities laws and the conditions set forth in Section 4(d) hereof and to the provisions of Section 4.1 of the Purchase Agreement, this Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant at the principal office of the Company or its designated agent, together with a written assignment of this Warrant substantially in the form attached hereto duly executed by the Holder or its agent or attorney and funds sufficient to pay any transfer taxes payable upon the making of such transfer. Upon such surrender and, if required, such payment, the Company shall execute and deliver a new Warrant or Warrants in the name of the assignee or assignees, as applicable, and in the denomination or denominations specified in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the portion of this Warrant not so assigned, and this Warrant shall promptly be cancelled. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company unless the Holder has assigned this Warrant in full, in which case, the Holder shall surrender this Warrant to the Company within three (3) Trading Days of the date on which the Holder delivers an assignment form to the Company assigning this Warrant in full. The Warrant, if properly assigned in accordance herewith, may be exercised by a new holder for the purchase of Warrant ADSs without having a new Warrant issued.

b) New Warrants. This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the names and denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. Subject to compliance with Section 4(a), as to any transfer which may be involved in such division or combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. All Warrants issued on transfers or exchanges shall be dated the Initial Exercise Date and shall be identical with this Warrant except as to the number of Warrant ADSs issuable pursuant thereto.

c) Warrant Register. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

d) Transfer Restrictions. If, at the time of the surrender of this Warrant in connection with any transfer of this Warrant, the transfer of this Warrant shall not be either (i) registered pursuant to an effective registration statement under the Securities Act and under applicable state securities or blue sky laws or (ii) eligible for resale without volume or manner-of-sale restrictions or current public information requirements pursuant to Rule 144, the Company may require, as a condition of allowing such transfer, that the Holder or transferee of this Warrant, as the case may be, comply with the provisions of Section 5.7 of the Purchase Agreement.

e) Representation by the Holder. The Holder, by the acceptance hereof, represents and warrants that it is acquiring this Warrant and, upon any exercise hereof, will acquire the Warrant ADSs issuable upon such exercise, for its own account and not with a view to or for distributing or reselling such Warrant ADSs or any part thereof in violation of the Securities Act or any applicable state securities law, except pursuant to sales registered or exempted under the Securities Act.

Section 5. Miscellaneous.

a) No Rights as Shareholder Until Exercise; No Settlement in Cash. This Warrant does not entitle the Holder to any voting rights, dividends or other rights as a shareholder of the Company prior to the exercise hereof as set forth in Section 2(d)(i), except as expressly set forth in Section 3. Without limiting any rights of a Holder to receive Warrant ADSs on a “cashless exercise” pursuant to Section 2(c) or to receive cash payments pursuant to Section 2(d)(i) and Section 2(d)(iv) herein, in no event shall the Company be required to net cash settle an exercise of this Warrant.

b) Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant ADSs, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

c) Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall not be a Business Day, then such action may be taken or such right may be exercised on the next succeeding Business Day.

d) Authorized Shares.

The Company covenants that, during the period the Warrant is outstanding, its directors will have authority to allot a sufficient number of shares to provide for the issuance of the Warrant ADSs and the underlying Ordinary Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of issuing the Warrant Shares needed for the Depositary to deliver the necessary Warrant ADSs upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares and Warrant ADSs and the underlying Ordinary Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the applicable Trading Market upon which the ADSs and Ordinary Shares may be listed. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant and payment for such Warrant ADSs in accordance herewith, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges created by the Company in respect of the issue thereof (other than any transfer restrictions and taxes in respect of any transfer occurring contemporaneously with such issue).

Except and to the extent as waived or consented to by the Holder, the Company shall not by any action, including, without limitation, amending its certificate of incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue 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, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate to protect the rights of Holder as set forth in this Warrant against impairment. Without limiting the generality of the foregoing, the Company will (i) not increase the par value of any Warrant Shares above the amount payable therefor upon such exercise immediately prior to such increase in par value, (ii) take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable Warrant Shares upon the exercise of this Warrant and (iii) use commercially reasonable efforts to obtain all such authorizations, exemptions or consents from any public regulatory body having jurisdiction thereof, as may be, necessary to enable the Company to perform its obligations under this Warrant.

Before taking any action which would result in an adjustment in the number of Warrant ADSs for which this Warrant is exercisable or in the Exercise Price, the Company shall obtain all such authorizations or exemptions thereof, or consents thereto, as may be necessary from any public regulatory body or bodies having jurisdiction thereof.

e) Jurisdiction. All questions concerning the construction, validity, enforcement and interpretation of this Warrant shall be determined in accordance with the provisions of the Purchase Agreement.

f) Restrictions. The Holder acknowledges that the Warrant ADSs acquired upon the exercise of this Warrant, if the Warrant Shares are not registered, and the Holder does not utilize cashless exercise, will have restrictions upon resale imposed by state and federal securities laws.

g) Nonwaiver and Expenses. No course of dealing or any delay or failure to exercise any right hereunder on the part of Holder shall operate as a waiver of such right or otherwise prejudice the Holder’s rights, powers or remedies. Without limiting any other provision of this Warrant or the Purchase Agreement, if the Company willfully and knowingly fails to comply with any provision of this Warrant, which results in any material damages to the Holder, the Company shall pay to the Holder such amounts as shall be sufficient to cover any costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Holder in collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder.

h) Notices. Any notice, request or other document required or permitted to be given or delivered to the Holder by the Company shall be delivered in accordance with the notice provisions of the Purchase Agreement.

i) Limitation of Liability. No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant ADSs, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any ADSs or Ordinary Shares or as a shareholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

j) Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery of damages, will be entitled to specific performance of its rights under this Warrant. The Company agrees that monetary damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance that a remedy at law would be adequate.

k) Depositary. For the avoidance of doubt, notwithstanding anything to the contrary contained herein, the Depositary’s rights and obligations with respect to the Company and the ADSs (including the Warrant ADSs) shall be as set forth in, and subject to, the terms and provisions of the deposit agreement among, inter alia, the Company and the Depositary and in no event shall this Warrant be deemed or construed to impose any additional obligations or liabilities on the Depositary, provided that this provision shall not limit in any respect the obligations of the Company under this Warrant.

l) Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of any Holder from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant ADSs.

m) Company Acknowledgement. The Company acknowledges that the Company has received the aggregate par value amount of the Ordinary Shares underlying the Warrant ADSs upon exercise of this Warrant and the Company shall hold such aggregate nominal amount in trust and shall apply it as applicable in connection with exercises of this Warrant pursuant to Section 2(c) herein.

n) Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Company and the Holder.

o) Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

p) Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

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(Signature Page Follows)

IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized as of the date first above indicated.

NOTICE OF EXERCISE

(1)  The undersigned hereby elects to purchase ________ Warrant ADSs of the Company pursuant to the terms of the attached Warrant (only if exercised in full), and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

(2)  Payment shall take the form of (check applicable box):

☐ in lawful money of the United States; or

☐ if permitted, the cancellation of such number of Warrant ADSs as is necessary, in accordance with the formula set forth in subsection 2(c), to exercise this Warrant with respect to the maximum number of Warrant ADSs purchasable pursuant to the cashless exercise procedure set forth in subsection 2(c).

(3)  Please register issue said Warrant ADSs in the name of the undersigned or in such other name as is specified below.

The Warrant ADSs shall be delivered to the following DWAC Account Number:

_______________________________

_______________________________

_______________________________

(4) Accredited Investor. The undersigned is an “accredited investor” as defined in Regulation D promulgated under the Securities Act of 1933, as amended.

[SIGNATURE OF HOLDER]

Name of Investing Entity: ______________________________________________________________________________

Signature of Authorized Signatory of Investing Entity: _____________________________________________________________________________

Name of Authorized Signatory: ______________________________________________________________________________

Title of Authorized Signatory: ______________________________________________________________________________

Date: ______________________________________________________________________________

EXHIBIT B

ASSIGNMENT FORM

(To assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase Warrant ADSs.)

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

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