Attached files
file | filename |
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10-K - FORM 10-K - ASTROTECH Corp | c05408e10vk.htm |
EX-32.1 - EXHIBIT 32.1 - ASTROTECH Corp | c05408exv32w1.htm |
EX-31.2 - EXHIBIT 31.2 - ASTROTECH Corp | c05408exv31w2.htm |
EX-32.2 - EXHIBIT 32.2 - ASTROTECH Corp | c05408exv32w2.htm |
EX-23.1 - EXHIBIT 23.1 - ASTROTECH Corp | c05408exv23w1.htm |
EX-10.55 - EXHIBIT 10.55 - ASTROTECH Corp | c05408exv10w55.htm |
EX-10.57 - EXHIBIT 10.57 - ASTROTECH Corp | c05408exv10w57.htm |
EX-10.60 - EXHIBIT 10.60 - ASTROTECH Corp | c05408exv10w60.htm |
EX-10.61 - EXHIBIT 10.61 - ASTROTECH Corp | c05408exv10w61.htm |
EX-10.56 - EXHIBIT 10.56 - ASTROTECH Corp | c05408exv10w56.htm |
EX-10.59 - EXHIBIT 10.59 - ASTROTECH Corp | c05408exv10w59.htm |
EX-31.1 - EXHIBIT 31.1 - ASTROTECH Corp | c05408exv31w1.htm |
EX-10.63 - EXHIBIT 10.63 - ASTROTECH Corp | c05408exv10w63.htm |
Exhibit 10.58
THE SECURITIES REPRESENTED BY THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933 (THE ACT) OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES MAY NOT BE OFFERED
FOR SALE, SOLD, OR OTHERWISE TRANSFERRED, EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
FILED UNDER THE SECURITIES ACT OF 1933 OR PURSUANT TO AN EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF SUCH ACT, THE AVAILABILITY OF WHICH EXEMPTION MUST BE ESTABLISHED TO THE REASONABLE
SATISFACTION OF THE COMPANY. THE TRANSFER OF THIS INSTRUMENT IS RESTRICTED AS DESCRIBED HEREIN.
Issue Date: January 19, 2010
STOCK PURCHASE WARRANT
ASTROGENETIX, INC.
ASTROGENETIX, INC.
For value received, including performance of services (the Services) for the Company
as (Title) thereof, subject to the terms and conditions herein, Astrogenetix, Inc., a
Delaware corporation (the Company), hereby grants to (Employee Name) (the
Holder) the right to purchase from the Company (Number of Shares) shares (the
Shares) of the Companys Common Stock, par value $0.001 per share (Common
Stock). The number of Shares shall be subject to adjustment pursuant to Section 6 hereof.
1. Exercise Price. The purchase price for each Share shall be (Price) per share, as
adjusted from time to time pursuant to Section 6 hereof (the Exercise Price), and shall
be payable upon exercise pursuant to Section 4 hereof.
2. Vesting.
(a) | This stock purchase warrant (this Warrant) shall vest
and become exercisable as follows: 50% of the Shares shall vest and become
exercisable on the first anniversary of the Issue Date and 50% of the Shares
shall vest and become exercisable on the second anniversary of the Issue Date;
provided, that no Shares shall vest unless on such vesting date the Holder has,
since the Issue Date, continuously provided Services to the Company. Upon
vesting, the Shares will remain exercisable until 5:00 p.m., Central time on
the seventh anniversary of the Issue Date. |
(b) | Notwithstanding the foregoing, all of the Shares shall
immediately and automatically vest and become exercisable upon the occurrence
of a Change of Control of the Company, defined herein as the consummation of |
(i) the sale of all or substantially all of the assets of the Company on a
consolidated basis to an unrelated person or entity;
(ii) a merger, reorganization or consolidation in which the outstanding shares
of capital stock of the Company are converted into or exchanged for securities of
the successor entity and the holders of the Companys outstanding voting power
immediately prior to such transaction do not own at least a majority of the
outstanding voting power of the successor entity immediately upon completion of such
transaction;
401 Congress Ave, Suite 1650 | Austin, Texas 78701 | 512.485.9530 | 512.485.9531 Fax | www.astrogenetix.com
(iii) the sale of all or a majority of the capital stock of the Company to an
unrelated person or entity; or
(iv) any other transaction in which the holders of the Companys outstanding
voting power immediately prior to such transaction do not own at least a majority of
the outstanding voting power of the Company or a successor entity immediately upon
completion of the transaction;
provided, however, that neither of the following shall be deemed a Change of
Control of the Company: (x) the transfer of the capital stock of the Company to an
affiliate of the transferor or (y) the issuance of a dividend in the form of the
capital stock of the Company or the capital stock of any affiliate of the Company.
3. Effect of Termination of Employment or Services.
(a) | The Shares granted pursuant to this Warrant shall vest in
accordance with Section 2(a) above, as long as the Holder continues to perform
Services for the Company. If, however, prior to the date on which the Shares
vest pursuant to Section 2(a), either: |
(i) the Company terminates the Holders Services, or
(ii) the Holder voluntarily ceases to perform Services for the Company,
in each case, without the Holders immediate rehire by the Company, then the portion of the right
to purchase all of the Shares vested immediately prior to the date of termination shall remain
vested and shall be exercisable by the Holder and the right to purchase the Shares that have not
previously vested in accordance with Section 2(a) above shall, as of the date of such termination
or cessation of Services, be forfeited by the Holder to the Company.
4. Method of Exercise; Expenses.
(a) | While the Shares remain exercisable in accordance with
Section 2, the Holder may exercise, in whole or in part, and from time to time,
the purchase rights evidenced hereby. Such exercise will be effected by the
Holder: |
(i) surrendering this Warrant to the Company at the address shown beneath the
Companys signature in this Warrant, together with a duly executed notice of
exercise in the form of Exhibit A attached hereto (the Notice of
Exercise); and
(ii) delivering cash, a check payable to, or a wire transfer to the account of,
the Company in an amount equal to the product of (x) the Exercise Price multiplied
by (y) the number of Shares being purchased.
(b) | Each exercise of this Warrant will be deemed to have been
effected immediately prior to the close of business on the day on which the
Holder will have exercised the purchase rights as provided in Section 4(a).
Upon such exercise, the Company shall issue as soon as
practicable a stock certificate in proper form representing the number of
Shares so purchased. |
401 Congress Ave, Suite 1650 | Austin, Texas 78701 | 512.485.9530 | 512.485.9531 Fax | www.astrogenetix.com
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(c) | If this Warrant is exercised in part only, the Company shall
execute and deliver a new Warrant of the same tenor evidencing the right of the
Holder to purchase the balance of the Shares purchasable hereunder upon the
same terms and conditions as herein set forth. |
(d) | The Company will pay all expenses, taxes (other than transfer
taxes) and other charges payable in connection with the preparation, issuance
and delivery of this Warrant and the Shares. |
5. Valid Issuance of Shares. The Company covenants that: (i) it will at all times keep
reserved for issuance upon exercise hereof such number of Shares as will be issuable upon such
exercise, and (ii) the Shares, when issued pursuant to the exercise of this Warrant, will be duly
and validly issued, fully paid and nonassessable.
6. Adjustments. The number of and kind of securities purchasable upon exercise of this
Warrant shall be subject to adjustment from time to time as follows:
(a) | Subdivisions, Combinations and Other Issuances. If the Company
shall at any time prior to the expiration of this Warrant subdivide its Common
Stock, by stock split or otherwise, or combine its Common Stock, or issue
additional shares of its Common Stock as a dividend with respect to any shares
of its Common Stock, the number of Shares issuable on the exercise of this
Warrant shall forthwith be proportionately increased in the case of a
subdivision or stock dividend, or proportionately decreased in the case of a
combination. In such event, the Exercise Price shall be adjusted to equal (i)
the Exercise Price in effect immediately prior to such adjustment multiplied by
the number of shares of Common Stock for which this Warrant is exercisable
immediately prior to the adjustment divided by (ii) the number of shares for
which this Warrant is exercisable immediately after such adjustment. Any
adjustment under this Section 6(a) shall become effective at the close of
business on the date the subdivision or combination becomes effective, or as of
the record date of such dividend, or in the event that no record date is fixed,
upon the making of such dividend. |
(b) | Reclassification, Reorganization and Consolidation. In case of
any reclassification, capital reorganization, or change in the Common Stock of
the Company (other than as a result of a subdivision, combination, or stock
dividend provided for in Section 6(a) above), then, as a condition of such
reclassification, reorganization or change, lawful provision shall be made, and
duly executed documents evidencing the same from the Company or its successor
shall be delivered to Holder, so that Holder shall have the right at any time
prior to the expiration of this Warrant to purchase the kind and amount of
shares of stock and other securities and property receivable in connection with
such reclassification, reorganization, or change by a holder of the same number
of shares of Common Stock as were purchasable by Holder immediately prior to
such reclassification, reorganization, or change, and the exercise price
therefor shall be appropriately adjusted. In any
such case appropriate provisions shall be made with respect to the rights
and interest of Holder so that the provisions hereof shall thereafter be
applicable with respect to any shares of stock or other securities and
property deliverable upon exercise hereof. |
401 Congress Ave, Suite 1650 | Austin, Texas 78701 | 512.485.9530 | 512.485.9531 Fax | www.astrogenetix.com
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(c) | Limitation on Adjustments. Notwithstanding the foregoing, no
adjustment in the Exercise Price shall be required unless such adjustment would
require an increase or decrease of at least one cent ($.01) in such price;
provided, however, that any adjustments which by reason of this Section 6 are
not required to be made shall be carried forward and taken into account in any
subsequent adjustment. Notwithstanding anything in this Section 6 to the
contrary, the Exercise Price shall not be reduced to less than the then
existing par value of the Common Stock as a result of any adjustment made
hereunder. |
7. No Fractional Shares or Scrip. No fractional shares or scrip representing fractional
shares will be issued upon the exercise of this Warrant. The Company shall make any adjustment
therefor by rounding the number of shares obtainable upon exercise to the next highest whole number
of shares.
8. Stockholder Rights. Subject to the limitations and restrictions contained herein, upon
exercise of this Warrant in accordance with Section 2 hereof, the Holder shall have all rights as a
stockholder of the Company with respect to the purchased Shares, including the right to vote and
receive dividends and distributions.
9. Restrictions on Transfer. Absent prior written consent of the Board of Directors of the
Company, this Warrant may not be sold, assigned, transferred, pledged or otherwise encumbered,
whether voluntarily or involuntarily, by operation of law or otherwise, during the period beginning
on the Issue Date and ending on the second anniversary of the date such Shares shall have become
vested and exercisable pursuant to Section 2. Consistent with the foregoing, no right or benefit
under this Warrant shall be subject to transfer, sale, assignment, pledge, encumbrance or charge,
whether voluntary, involuntary, by operation of law or otherwise (other than by will or the laws of
descent and distribution), and any attempt to transfer, sell, assign, pledge, encumber or charge
the same shall be void. If the Holder shall become bankrupt or attempt to transfer, assign, sell,
pledge, encumber or charge any right or benefit hereunder, or if any creditor shall attempt to
subject the same to a writ of garnishment, attachment, execution, sequestration or any other form
of process or involuntary lien or seizure, then such right or benefit shall cease and terminate.
10. Limitation of Rights. Nothing in this Warrant shall be construed to:
(a) | give the Holder any right to be awarded any further Restricted
Stock or any other equity in the Company in the future, even if Restricted
Stock or other equity awards are granted on a regular or repeated basis; |
(b) | give the Holder or any other person any interest in any
specified asset or assets of the Company or any subsidiary of the Company; or |
(c) | confer upon the Holder the right to continue in the service of
the Company, or affect the right of the Company to terminate the service of the
Holder at any time or for any reason. |
401 Congress Ave, Suite 1650 | Austin, Texas 78701 | 512.485.9530 | 512.485.9531 Fax | www.astrogenetix.com
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11. Drag Along Rights. If at any time the Company or the owners of a majority of the Company
approves a sale of (i) all of the stock of the Company to one or more independent third parties
through one or more related transactions, (ii) all or substantially all of the assets of the
Company to one or more independent third parties through one or more related transactions, or (iii)
any other transaction where control of the Company is transferred to one or more independent third
parties, in each case including if structured as a merger, consolidation, joint venture or other
similar transaction (each, an Approved Sale), the Holder will consent to and raise no
objections against the Approved Sale and shall waive any dissenters rights, appraisal rights or
similar rights in connection with such Approved Sale. If the Approved Sale is structured as a sale
of stock, then the Holder will, if requested by the Company, sell or otherwise transfer its any and
all Shares purchased hereunder (or any portion thereof if requested), on the terms and conditions
approved by the Company. The Holder will promptly take all reasonable actions deemed necessary or
desirable, in the reasonable judgment of the Company, in connection with and to facilitate the
consummation of the Approved Sale, including the execution of all agreements and instruments
reasonably requested by the Company. The Company will use reasonable efforts to notify the Holder
in writing not less than ten (10) business days before the proposed consummation of an Approved
Sale; provided, however, that the Holder agrees not to, directly or indirectly, without the prior
written consent of the Company, disclose to any other person any information related to such
potential Approved Sale, other than disclosures to legal counsel in confidence or as otherwise
necessary to protect the Holders rights under this Warrant or applicable law, or as otherwise
required by law.
12. Successors and Assigns. This Warrant shall bind and inure to the benefit of and be
enforceable by the Holder, the Company and their respective permitted successors and assigns
(including personal representatives, heirs and legatees), except that the Holder may not assign any
rights or obligations under this Warrant except to the extent and in the manner expressly permitted
herein.
13. Amendments. This Warrant cannot be modified, altered or amended except by an agreement in
writing signed by both the Company and the Holder.
14. Severability; Counterparts. The invalidity or unenforceability of any provision hereof
shall in no way affect the validity or enforceability of any other provision. This Warrant may be
executed in two or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.
15. Notices. Any notice or other communication required or permitted hereunder shall be given
in writing and shall be deemed given, effective and received upon prepaid delivery in person or by
courier or upon the earlier of delivery or the third business day after deposit in the United
States mail if sent by certified mail, with postage and fees prepaid, addressed to the other party
at its address as shown beneath its signature in this Warrant, or to such other address as such
party may designate in writing from time to time by notice to the other party in accordance with
this Section 12.
16. Governing Law. This Warrant shall be governed by, construed and enforced in accordance
with the laws of the State of Texas.
[Signature Page Follows]
401 Congress Ave, Suite 1650 | Austin, Texas 78701 | 512.485.9530 | 512.485.9531 Fax | www.astrogenetix.com
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IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed and attested to as
of the date first written above.
ASTROGENETIX, INC. | ||||||
By: | ||||||
Name: | Thomas B. Pickens, III | |||||
Title: | Chairman of the Board | |||||
Address: | 401 Congress Ave, Suite 1650 | |||||
Austin TX, 78746 |
ACCEPTED AND AGREED:
HOLDER
Address: |
[Signature Page To Warrant]
Exhibit A
NOTICE OF EXERCISE
Dated: ,
To:
|
ASTROGENETIX, INC. |
The undersigned hereby irrevocably elects and agrees to purchase
shares of the
Companys Common Stock covered by the Warrant, dated
_____, 20____, and makes payment herewith
in full therefor of the total exercise price of $ .
The undersigned hereby represents that the undersigned is exercising such Warrant for its own
account or the account of an affiliate and will not sell or otherwise dispose of the underlying
Warrant Shares in violation of applicable securities laws. If said number of shares is less than
all of the shares purchasable hereunder the undersigned requests that a new Warrant evidencing the
right to purchase the remaining Warrant Shares (which new Warrant shall in all other respects be
identical to the Warrant exercised hereby) be registered in the name of
whose
address is:
Printed Name of Warrant Holder: |
Signature: |
Printed Name of Signing Party: |
Title of Signing Party: |
Address of Warrant Holder: |