Document:

STOCK PLEDGE AND LOAN AGREEMENT DATED NOVEMBER 13, 2000

 Exhibit 10.35 
  
 STOCK PLEDGE AND LOAN AGREEMENT 
  
 This AGREEMENT (as amended, supplemented or modified from time to time, “Agreement”) is dated as of November 13, 2000 and is by Per-Olof
Söderberg (the “Borrower”) in favor of OXiGENE, Inc., a Delaware corporation (“OXiGENE”). 
  
 The Borrower has been granted an option to purchase 20,000 shares of Common Stock of OXiGENE (the “Option”) pursuant to the OXiGENE 1996 Stock
Incentive Plan (the “Plan”) and an agreement (the “Option Agreement”) between OXiGENE and the Borrower dated as of November 13, 2000. The Borrower desires to exercise the Option and to purchase 20,000 shares of such Common Stock
by borrowing substantially all of the purchase price from OXiGENE. In order to induce OXiGENE to extend such credit to the Borrower, the Borrower is willing (i) to execute a promissory note in favor of OXiGENE evidencing Borrower’s obligations
to OXiGENE and (ii) to provide collateral security for Borrower’s obligations to OXiGENE (the “Pledged Collateral,” as more fully defined herein). Accordingly, the parties hereto agree as follows: 
  
 ARTICLE VI 
 DEFINITIONS 
  
 .1 Definitions. Terms defined in the Plan, the Option Agreement and the Purchase Note (as defined below) and not otherwise defined herein shall have, as used herein, the respective meanings provided for therein, 
  
 .2 UCC Terms. Unless otherwise defined herein, or unless the context
otherwise requires, all terms used herein that are defined in the New York Uniform Commercial Code shall have the meanings therein stated. 
  
 ARTICLE VII 
 THE LOAN 
  
 .1 The Loan and the Purchase Note. OXiGENE agrees upon the terms and
subject to the conditions contained in this Agreement to lend to the Borrower an aggregate principal amount of ONE HUNDRED FORTY FIVE THOUSAND Dollars ($145,000) (the “Purchase Loan”) which shall be evidenced by the Borrower’s note in
substantially the form attached as Exhibit A (the “Purchase Note”). 
  
 .2 Term. The principal and interest of the Purchase Note shall be due and payable on the earlier of the Note Expiration Date stated in the Option Agreement or the Maturity Date(s) described in Section 2.3,
below. 
  
 .3 Repayment. (a) Subject to Section 2.3(b)
hereto the principal and interest of the Purchase Note attributable to the purchase of a number of shares of Common Stock shall be repaid, in whole but not in part, upon the Maturity Date attributable to such shares, as shown in Schedule II or as
described in Section 2.3(b). To the extent that the Borrower is entitled to, but does not, repay the Purchase Note on the Maturity Date, such shares shall be forfeited. 

 (b) If before the Purchase Note is repaid, the Borrower’s employment or service with OXiGENE or a
Subsidiary terminates, the following provisions shall apply notwithstanding any terms in this Agreement or in the Purchase Note to the contrary: 
  
 (i) If the termination of employment or service is for any reason other than death or disability, the Borrower shall repay the Purchase
Note with respect to shares of Common Stock, to the extent that such shares are non-forfeitable on the date of termination of employment or service (or would have become non-forfeitable within three months thereafter and prior to the Note Expiration
Date), on the date that is three months following such termination of employment or service, which date shall be a Maturity Date. The balance of the shares purchased pursuant to the exercise of the Option shall be forfeited. 
  
 (ii) If the termination of employment or service is the
result of the Borrower’s disability, the Borrower (or the Borrower’s legal representative) shall repay the Purchase Note with respect to shares of Common Stock, to the extent that such shares are non-forfeitable on the date of termination
of employment or service (or would have become non-forfeitable within twelve months thereafter and prior to the Note Expiration Date), on such terms as the Committee, in its discretion, may deem appropriate, including forgiveness of the principal
and accrued interest due and payable under the Purchase Note, on the date that is twelve months following such termination of employment or service, which date shall be a Maturity Date. The balance of the shares purchased pursuant to the exercise of
the Option shall be forfeited. 
  
 (iii) If the
termination of employment or service is the result of the Borrower’s death while employed by OXiGENE, or during the three- or twelve-month periods described in paragraphs (i) or (ii), the person who acquires the Option by reason of
Borrower’s death (or the Borrower’s legal representative) shall repay the Purchase Note with respect to any portion or all of such shares of Common Stock, to the extent that such shares are non-forfeitable on the date of Borrower’s
death (or would have become non-forfeitable within twelve months thereafter and prior to the Note Expiration Date), on such terms as the Committee, in its discretion, may deem appropriate, including forgiveness of the principal and accrued interest
due and payable under the Purchase Note, on the date that is twelve months following the Borrower’s death, which date shall be a Maturity Date. The balance of the shares purchased pursuant to the exercise of the Option shall be forfeited.

  
 (iv) For purposes of this Section 2.3, shares
of Common Stock purchased pursuant to the exercise of an Option will become non-forfeitable on the date or dates shown in Schedule II. 
  
 (v) The Borrower (or the Borrower’s personal representative) may repay principal plus accrued interest only upon a Maturity Date with
respect to shares with such Maturity Date; provided, however, that the Borrower may at any time provide other collateral satisfactory to OXiGENE in substitution for the shares purchased pursuant to the exercise of an Option and pledged as collateral
as provided herein. 
  

 2 

 (vi) Upon a Change in Control, all shares of Common Stock that have not already become
non-forfeitable shall become non-forfeitable, and the principal and interest of the Purchase Note shall be due and payable according to the terms of Section 2 of this Agreement. 
  
 .4 Forfeitures. To the extent that shares are forfeited pursuant to Section 2.3(b), the amount due under the Purchase
Note shall be reduced by the amount attributable to the exercise price payable under the Option for such forfeited shares. 
  
 ARTICLE VIII 
 THE SECURITY INTERESTS

  
 .1 The Security Interests. The Borrower hereby pledges
to OXiGENE, and grants to OXiGENE a security interest in, the following (the “Pledged Collateral”): 
  
 (i) the shares of stock described on Schedule I hereto (the “Pledged Shares”), and all dividends, distributions, cash,
instruments and other property and proceeds from time to time received, receivable or otherwise made upon or distributed in respect of or in exchange for any or all of the Pledged Shares (other than cash dividends described in Section 6.1 (a)(ii));
and 
  
 (ii) to the extent not otherwise included
in the foregoing, all cash and non-cash proceeds thereof (except for cash dividends described in Section 6.1 (a)(ii)). 
  
 .2 Security for Obligations. This Agreement secures the payment of: (i) all amounts now or hereafter payable by the Borrower to OXiGENE on the
Purchase Note, (ii) all obligations of the Borrower to OXiGENE hereunder and (iii) all other obligations or liabilities now or hereafter payable by the Borrower pursuant to the Plan (all such indebtedness, obligations and liabilities being herein
called the “Obligations”). 
  
 .3 Delivery of Pledged
Collateral. All certificates or instruments representing or evidencing the Pledged Collateral shall be delivered to and held by or on behalf of OXiGENE pursuant hereto and shall be in suitable form for transfer by delivery, or shall be
accompanied by duly executed instruments of transfer or assignment in blank, with signatures appropriately guaranteed, and accompanied in each case by any required transfer tax stamps, all in form and substance satisfactory to OXiGENE. In connection
herewith, the Borrower hereby grants OXiGENE a power of attorney to endorse on Borrower’s behalf all such certificates or instruments, which power shall be coupled with an interest and irrevocable. OXiGENE shall have the right, at any time in
its discretion and without notice to the Borrower, to cause any or all of the Pledged Shares or other Pledged Collateral to be transferred of record into the name of OXiGENE or its nominee. 
  
 .4 Termination of Security Interests; Release of Pledged Collateral.
Upon repayment of the Purchase Note with respect to a number of the Pledged Shares on a Maturity Date (or upon a deemed repayment) as provided in Section 2.3(a) or (b), or upon the forfeiture of a number of shares of Common Stock as provided in
Section 2.3(b), the security interest in such number of Pledged Shares shall terminate, and all rights to such shares shall revert to the Borrower (in the case of repayment) or shall vest in OXiGENE (in the case of forfeiture). Upon 
  

 3 

 the full, final and irrevocable payment and performance of all the Obligations, the security interests in the Pledged
Collateral shall terminate and all rights to the Pledged Collateral shall revert to the Borrower. 
  
 ARTICLE IX 
 REPRESENTATIONS AND WARRANTIES 
  
 .1 Representations and Warranties. Borrower hereby represents and
warrants that: 
  
 (a) Borrower is the sole holder of record and
beneficial owner of the Collateral, free and clear of any pledge, hypothecation, assignment, lien, charge, claim, security interest, option, preference, priority or other preferential arrangement of any kind or nature whatsoever
(“Lien”) thereon or affecting the title thereto. 
  
 (b) This Agreement has been duly executed and delivered by Borrower and constitutes the legal, valid and binding obligation of Borrower, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency and similar laws
affecting creditors’ rights generally and subject as to enforceability, to general principles of equity. 
  
 (c) No consent, approval, authorization or other order of any person or entity, governmental or otherwise, is required for (i) the execution and delivery
of this Agreement by Borrower or the delivery by Borrower of the Collateral to OXiGENE as provided herein, or (ii) the exercise by OXiGENE of the voting or other rights provided for in this Agreement or the remedies in respect of the Collateral
pursuant to this Agreement, except as may be required in connection with the disposition of the Collateral by laws affecting the offering and sale of securities generally. 
  
 ARTICLE X 
 COVENANTS 
  
 The Borrower agrees that so long as any
Obligation remains unpaid: 
  
 .1 Filing; Further
Assurances. The Borrower will, in such manner and form as OXiGENE may require, execute, deliver, file and record any financing statement, continuation statement, specific assignment or other paper and take any other action that may be necessary
or desirable, or that OXiGENE may request, in order to create, preserve, perfect or validate the security interests granted hereby or to enable OXiGENE to exercise and enforce its rights hereunder with respect to any of the Pledged Collateral. To
the extent permitted by applicable law, the Borrower hereby authorizes OXiGENE to execute and file, in the name of the Borrower or otherwise, Uniform Commercial Code financing statements which OXiGENE in its sole discretion may deem necessary or
appropriate to further perfect the security interests. 
  
 .2
Liens on Pledged Collateral. The Borrower will not sell or otherwise dispose of, or grant any option with respect to any of the Pledged Collateral or create or suffer to exist any lien (other than security interests in favor of OXiGENE) on
any Pledged Collateral, (provided, however, that Borrower may sell the Pledged Shares subject to the condition that the principal and accrued interest of the Purchase Note attributable to such shares is repaid in fill to OXiGENE prior to the
transfer of such shares pursuant to such sale). The Borrower will pledge hereunder, immediately upon his acquisition (directly or indirectly) thereof, any and all shares of stock or other securities received by him in substitution for the Pledged
Shares. 
  

 4 

 ARTICLE XI 
 DISTRIBUTIONS ON COLLATERAL; VOTING 
  
 .1 Right to Receive Distributions on Pledged Collateral; Voting. (a) So long as no Event of Default shall have occurred and be continuing: 
  
 (i) The Borrower shall be entitled to exercise any and all voting and other consensual rights pertaining to the Pledged Collateral or any
part thereof for any purpose not inconsistent with the terms of this Agreement. 
  
 (ii) With respect to the Pledged Shares, any cash dividends shall be paid to the Borrower, and any stock dividends shall remain in the
possession of OXiGENE together with, and be treated in the same manner as, the Pledged Shares and shall become additional Pledged Shares. 
  
 (iii) With respect to Pledged Collateral other than the Pledged Shares, the Borrower shall be entitled to receive and retain any and all
dividends, interest and other payments and distributions made upon or with respect to the Pledged Collateral, provided, however, that any and all 
  
 (A) dividends and interest paid or payable other than in cash in respect of, and instruments and other property received, receivable or
otherwise distributed in respect of, or in exchange for, any Pledged Collateral, 
  
 (B) dividends and other distributions paid or payable in cash in respect of any Pledged Collateral in connection with a partial or total
liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in-surplus, and 
  
 (C) cash paid, payable or otherwise distributed in respect of principal of, in redemption of, or in exchange for, any Pledged Collateral,

  
 shall be, and shall be forthwith delivered to OXiGENE to hold
as, Pledged Collateral and shall, if received by the Borrower, be received in trust for the benefit of OXiGENE, be segregated from the other property or funds of the Borrower and be forthwith delivered to OXiGENE as Pledged Collateral in the same
form as so received (with any necessary endorsement). 
  
 (iv) OXiGENE shall execute and deliver (or cause to be executed and delivered) to the Borrower all such proxies, powers of attorney, consents, ratification and waivers and other instruments as the Borrower may reasonably request for the
purpose of enabling the Borrower to exercise the voting and other rights which he is entitled to exercise pursuant to paragraph (i) above and to receive the dividends or interest payments which he is authorized to receive and retain pursuant to
paragraphs (ii) and (iii)above. 
  

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 (b) Upon the occurrence and during the continuance of an Event of Default: 
  
 (i) All rights of the Borrower to receive the dividends and
interest payments which he would otherwise be authorized to receive and retain pursuant to Sections 6.1(a)(ii) and (iii) shall cease, and all such rights shall thereupon become vested in OXiGENE which shall thereupon have the sole right to receive
and hold as Pledged Collateral such dividends and interest payments. 
  
 (ii) All dividends and interest payments which are received by the Borrower contrary to the provisions of paragraph (i) of this Section 64 1(b) shall be received in trust for the benefit of OXiGENE, shall be
segregated from other funds of the Borrower and shall be forthwith paid over to OXiGENE as Pledged Collateral in the same form as so received (with any necessary endorsement). 
  
 (c) Upon the occurrence and during the continuance of an Event of Default and upon notice by OXiGENE to the Borrower, all
rights of the Borrower to exercise the voting and other consensual rights which he would otherwise be entitled to exercise pursuant to Section 6.1(a)(i) shall cease, and all such rights shall thereupon become vested in OXiGENE who shall thereupon
have the sole right to exercise such voting and other consensual rights. 
  
 ARTICLE XII 
 GENERAL AUTHORITY; REMEDIES 
  
 .1 General Authority. The Borrower hereby irrevocably appoints OXiGENE and any officer or agent thereof, with full power of substitution, as his
true and lawful attorney-infact, in the name of the Borrower or its own name, for the sole use and benefit of OXiGENE, but at the Borrower’s expense, at any time and from time to time, to take any and all appropriate action and to execute any
and all documents and instruments which may be necessary or desirable to carry out the terms of this Agreement. 
  
 .2 UCC Rights. If an Event of Default shall have occurred, OXIGENE may in addition to all other rights and remedies granted to it in This Agreement
and in any other agreement securing, evidencing or relating to the Obligations, exercise (i) all rights and remedies of a secured party tinder the UCC (whether or not in effect in the jurisdiction where such rights are exercised) and (ii) all other
rights available to OXiGENE at law or equity. OXiGENE shall have no duty to exercise any rights or take any steps to preserve the rights of the Borrower in the Pledged Collateral, nor shall OXiGENE be liable to the Borrower or any other person for
any loss caused by OXiGENE’s failure to meet any obligation imposed by Section 9-207 of the UCC or any successor provision. Without limiting the foregoing, OXiGENE shall be deemed to have exercised reasonable care in the custody and
preservation of the Pledged Collateral in its possession if the Pledged Collateral is accorded treatment substantially equal to that which OXiGENE accords its own property, it being understood that OXiGENE shall not have any duty or responsibility
for (i) ascertaining or taking action with respect to calls, conversions, exchanges, maturities, tenders or other matters relative to any Pledged Collateral, whether or not OXiGENE has or is deemed to have knowledge of such matters or (ii) taking
any necessary steps to preserve rights against any parties with respect to any Pledged Collateral. 
  

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 .3 Remedies. 
  
 (a) Upon the occurrence of an Event of Default, then or at any time during the continuance of such occurrence, OXiGENE is
hereby authorized and empowered, at its election, (i) to transfer and register in its or its nominee’s name the whole or any part of the Collateral, (ii) to exercise all rights (including voting rights and the right to exercise the issuer
Agreements) with respect to the Collateral, (iii) to demand, sue for, collect, receive and give acquittance for any and all cash dividends or other distributions or monies due or to become due upon or by virtue thereof, and to settle, prosecute or
defend any action or proceeding with respect thereto (including, without limitation, any action or proceeding for the enforcement of rights hereunder), (iv) to sell in one or more sales (which may, in OXiGENE’s discretion, be made in accordance
with Rule 144) the whole or any part of the Collateral or otherwise to transfer or assign the same, applying the proceeds therefrom to the payment of the Obligations in such order as OXiGENE shall determine. 
  
 (b) OXiGENE shall give Borrower not less than ten days’ prior written
notice of the time and place of any sale or other intended disposition of any of the Collateral, except any Collateral that is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market. Borrower
agrees that such notice constitutes “reasonable notification” within the meaning of Section 9-504(3) of the Uniform Commercial Code. Any sale shall be made at a public or private sale at OXiGENE’s place of business, or at any public
building in The City of New York to be named in the notice of sale, either for cash or upon credit or for future delivery at such price as OXiGENE may deem fair, and, to the extent permitted by applicable law, OXiGENE may be the purchaser of the
whole or any part of the Collateral so sold and hold the same thereafter in its own right free from any claim of Borrower or any right or equity of redemption, which right or equity is hereby waived and released. 
  
 (c) In the event of any postponement of such sale or disposition, OXiGENE
shall give Borrower notice of such postponement. 
  
 (d) Borrower
acknowledges that in any sale under the circumstances described in this Section 7.3, OXiGENE shall incur no responsibility or liability for selling the whole or any part of the Collateral at a price which OXiGENE may deem reasonable under the
circumstances, notwithstanding the possibility that a substantially higher price might be realized if the sales were deferred for any reason. 
  
 ARTICLE XIII 
 MISCELLANEOUS 
  
 .1 Notices. All notices, requests and other communications to any
party hereunder shall be in writing and shall be given to such party at its address set forth on the signature page hereof or to such other address as such party may hereafter specify for the purpose by notice to the other. Each such notice, request
or other communication shall be effective (i) two business days after such communication is deposited in the mails with first class postage prepaid, addressed as aforesaid or (ii) if given by any other means, when delivered at the address specified
in this Section. Rejection or refusal to accept, or the inability to deliver because of a changed address of which no notice was given shall not affect the validity of notice given in accordance with this Section. 
  

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 .2 Waivers, Non-Exclusive Remedies. No failure on the part of OXiGENE to exercise, no delay in
exercising, and no course of dealing with respect to, any right under this Agreement, the Purchase Note, the Plan or the Subscription and Sale Agreement shall operate as a waiver thereof; nor shall any single or partial exercise by OXiGENE of any
right under such instruments or documents preclude any other or further exercise thereof or the exercise of any other right. The rights of OXiGENE under this Agreement are cumulative and are not exclusive of any other remedies provided under other
agreements or by law. 
  
 .3 Successors and Assigns. This
Agreement is for the benefit of OXiGENE and its successors and assigns, and in the event of an assignment of all or any of the Obligations, the rights hereunder, to the extent applicable to the indebtedness so assigned, may be transferred with such
indebtedness. This Agreement and rights and obligations hereunder may not be assigned by Borrower. 
  
 .4 Amendments and Waivers. Any provision of this Agreement may be amended or waived, if, but only if, such amendment or waiver is in writing and is
signed by the Borrower and OXiGENE. 
  
 .5 Delivery and
Applicable Law. This Agreement has been delivered in [New York] and shall be governed and construed in accordance with the laws of the [State of New York]. 
  

.6 Limitation by Law; Severability. (a) All rights, remedies and powers provided in this Agreement may be exercised only to the extent that the
exercise thereof does not violate any applicable provision of law, and all the provisions of this Agreement are intended to be subject to all applicable mandatory provisions of law which may be controlling and be limited to the extent necessary so
that they will not render this Agreement invalid, unenforceable in whole or in part, or not entitled to be recorded, registered or filed under the provisions of any applicable law. 
  
 (a) If any provision hereof is invalid and unenforceable in any jurisdiction, then, to the fullest extent permitted by law,
(i) the other provisions hereof shall remain in full force and effect in such jurisdiction and shall be liberally construed in favor of OXiGENE in order to carry out the intentions of the parties hereto as nearly as may be possible; and (ii) the
invalidity or unenforceability of any provision hereof in any jurisdiction shall not affect the validity or enforceability of such provision in any other jurisdiction. 
  
 .7 Counterparts; Effectiveness. This Agreement may be signed in any number of counterparts, each of which shall be an
original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall, become effective when OXiGENE shall have received counterparts hereof signed by itself and the Borrower. 
  

 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed. 
  

			
	 	 	 /s/ Per-Olof Soderberg

	 	 	 Borrower

		
	 	 	 Per-Olof Söderberg

		
	 Address
	 	 __________________________________________

		
	 	 	 __________________________________________

		
	 	 	 __________________________________________

	
	 OXiGENE, INC.

		
	 By:
	 	  

	 Title:
	 	 Chairman and CEO

  

 9 

 Schedule I 
  
 List of Pledged Shares 
  

			
	 Stock Certificate Nos.

	 	 Number of Shares

  

 10 

 Schedule II 
  
 Maturity Dates and Non-Forfeitability of Shares 
  

			
	 11/13/01
	  	 4,000

		
	 11/13/02
	  	 4,000

		
	 11/13/03
	  	 4,000

		
	 11/13/04
	  	 4,000

		
	 11/13/05
	  	 4,000

		
	 11/13/06
	  	 Note Expiration Date

		
	 11/13/06
	  	 Maturity Date

  

 11 

 PURCHASE NOTE 
  

			
	 $ 145,000
	  	Stockholm, Sweden
		
	 	  	November 13, 2000

  
 FOR VALUE RECEIVED the
undersigned, Per-Olof Söderberg (the “Borrower”), promises to pay to the order of OXiGENE, Inc., a Delaware corporation (“OXiGENE”) on the date or dates stated in the Pledge and Loan Agreement (as hereafter defined), the
principal sum of ONE HUNDRED FORTY FIVE THOUSAND Dollars ($145,000) with interest thereon from the date hereof until paid at the rate of five and six-tenths percent (5.6%) per annum, both principal and interest being negotiable and payable, without
offset, at the offices of OXiGENE, Inc., 321 Arsenal Street, Watertown, Massachusetts 02472, Attention: Björn Nordenvall, or at such other place as the holder may designate in writing. 
  
 The Borrower promises to pay interest on the aggregate unpaid principal
amount of this Purchase Note from the date hereof until paid at the times and in the manner specified in the Pledge and Loan Agreement. 
  
 This Purchase Note is secured by a Stock Pledge and Loan Agreement of even date from the Borrower to OXiGENE (the “Pledge and Loan Agreement”).

  
 The principal and interest on this Purchase Note are subject
to adjustment as provided for the Pledge and Loan Agreement. 
  
 Any of the following shall constitute an event of default (“Event of Default”): (i) the failure to pay any principal or interest on this Note when due; (ii) the insolvency of the Borrower, the application for the appointment of a
receiver for the Borrower, the filing of a petition under any provision of the federal bankruptcy law by or against the Borrower, or the making of an assignment for the benefit of creditors by the Borrower; or (iii) the breach by the Borrower of any
representations, warranties or covenants contained in the Pledge and Loan Agreement of even date between Borrower and OXiGENE. Upon the happening of an Event of Default, the entire and unpaid principal balance of this Purchase Note and all accrued
but unpaid interest, if any, shall, at the option of the holder, immediately become due and payable. Any failure of the holder to exercise such option shall not be deemed a waiver of the right to exercise the same in the event of any subsequent
event of default. 
  
 To the fullest extent permitted by law,
Borrower (i) waives presentment, protest and notice of dishonor; (ii) waives the benefit of any exemption as to the debt evidenced by this Purchase Note; (iii) waives any right which the Borrower may have to require the holder to proceed against any
other person or assets; (iv) agrees that, without notice, and without affecting the Borrower’s liability, the holder may, at any time or times, grant extensions of time for payment, permit the renewal of this Purchase Note and add or release a
party; (v) agrees that any action to collect this Purchase Note or any part hereof may be instituted and maintained in a court having appropriate jurisdiction and located in the City of Boston, Massachusetts, and, in this regard, the Borrower waives
forum nonconveniens or any assertion that such jurisdiction is improper; and (vi) agrees to pay all collection expenses including reasonable attorney’s fees and court costs incurred in the collection of this Purchase Note or any
part hereof. 
  

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 Notwithstanding anything contained in this Purchase Note or the Pledge and Loan Agreement to the
contrary, the Borrower shall have no personal liability for the payment of any sums due under this Purchase Note or the Pledge and Loan Agreement, it being the intention of the parties that OXiGENE or any subsequent holder hereof shall look solely
to the Pledged Collateral (as defined in the Pledge and Loan Agreement) for the payment of such sums; provided however that the foregoing exculpation from personal liability shall not (i) impair the validity of security interests granted in the
Pledge and Loan Agreement or (ii) preclude an action for specific performance or injunctive relief or prohibit OXiGENE or the holder hereof from naming the Borrower in any action to enforce remedies hereunder or under the Pledge and Loan Agreement
(other than an action seeking a personal money judgement). 
  

	
	

	
	 /s/ Per-Olof Soderberg

	Per-Olof Söderberg
	
	 Address:

  

 13FORM OF COMMON STOCK WARRANT DATED DEC. 8, 1999

 EXHIBIT 4.03 
  
 THIS SECURITY HAS BEEN ACQUIRED IN A TRANSACTION NOT INVOLVING ANY PUBLIC OFFERING AND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “ACT”), AND MAY NOT BE OFFERED, SOLD OR TRANSFERRED EXCEPT IN COMPLIANCE WITH THE ACT. 
  
 INTERPORE INTERNATIONAL, INC. 
  

  
 FORM OF 
 COMMON STOCK PURCHASE WARRANT 
  

  
  
 Certificate No.          
  
 Dated as of December 8, 1999 
  
 1. Grant. For value received, INTERPORE INTERNATIONAL, INC., a Delaware corporation (the “Corporation”), hereby grants to
                                        
or its assigns or transferees (the “Holder”), at the exercise price set forth in Section 3 below, the right to purchase              shares (the “Warrant Shares”)
of the Common Stock, par value $.01 per share, of the Corporation (the “Common Stock”), subject to adjustment from time to time as hereinafter set forth. This Warrant is issued at Closing under that certain Asset Purchase Agreement dated
as of the date hereof (the “Purchase Agreement”) by and among the Interpore Orthopaedics, Inc., a Delaware corporation (a subsidiary of the Corporation), Quantic Biomedical Partners, a California general partnership (“QBP”), the
Holder, John A. Dawdy and Andrew G. Hood. Capitalized terms used herein, but not elsewhere defined herein shall have the meaning set forth in the Purchase Agreement. 
  
 2. Exercise Period. The right to exercise this Warrant, in whole or in increments of no less than 10,000 shares,
begins                      (the “Exercise Date”) and expires on the fifth anniversary of the Exercise Date (the “Expiration
Date”). 
  
 3. Exercise Price. The exercise price of
this Warrant is $             per Warrant Share purchased (the “Exercise Price”). 
  

4. Adjustments. 
  
 (a) Adjustment for Change in Common Stock. 
  

(i) If the Corporation (A) pays a dividend or makes a distribution on its Common Stock in shares of its Common Stock, (B) subdivides or
reclassifies its outstanding shares of Common Stock into a greater number of shares, or (C) combines or reclassifies its outstanding shares of Common Stock into a smaller number of shares (each, an “Adjustment Event”), the number of
Warrant Shares issuable hereunder immediately prior to such action shall be proportionately adjusted so that the Holder will receive, upon exercise, the aggregate number and kind of shares of capital stock of the Corporation which it would have
owned immediately following such action if the Holder had exercised this Warrant immediately prior to such Adjustment Event. 
  
 (ii) The adjustment shall become effective immediately after the record date in the case of a dividend or distribution and immediately
after the effective date in the case of a subdivision, combination or reclassification. 
  
 (iii) The adjustment shall be made successively whenever any Adjustment Event occurs. 

 (b) Adjustment for Reorganization. If the Corporation consolidates or merges with
or into another Person or enters into any other similar transaction, recapitalization or reorganization in which the Corporation is not the surviving entity (any such action, a “Reorganization”), this Warrant shall become immediately
exercisable upon the completion of such Reorganization and there shall thereafter be deliverable, upon exercise of this Warrant, the number of shares of stock or other securities or property to which a holder of the number of Warrant Shares that
would otherwise have been deliverable upon exercise of this Warrant would have been entitled upon such Reorganization if such Warrant had been exercised in full immediately prior to such Reorganization. 
  
 5. Prior Notice as to Reorganizations. If the Corporation (i) enters
into any Reorganization or reclassification of its capital stock, or (ii) is the subject of a voluntary or involuntary dissolution, liquidation or winding up of the Corporation, then at least 15 days prior to such action, the Corporation will send
written notice (by first class mail, postage prepaid, addressed to the Holder at its address shown on the books of the Corporation) of the dates on which (A) such action will occur and (B) the holders of Common Stock of record may exchange their
Common Stock for securities or other property deliverable upon such action. 
  
 6. Reservation of Common Stock. The Corporation will reserve and keep available for issuance and delivery upon the exercise of this Warrant such number of its authorized but unissued shares of Common Stock or
other securities of the Corporation as will be sufficient to permit the exercise in full of this Warrant. Upon issuance, each of the Warrant Shares will be validly issued, fully paid and nonassessable, free and clear of all liens, security interests
and charges and free and clear of all preemptive rights. 
  
 7.
No Voting Rights; Limitations of Liability. Prior to exercise, this Warrant will not entitle the Holder to (a) any voting rights, or (b) other rights as a stockholder of the Corporation not granted herein. No provision of this Warrant, in the
absence of affirmative action by the Holder to exercise this Warrant, and no enumeration in this Warrant of the rights or privileges of the Holder, will give rise to any liability of such Holder for the Exercise Price. 
  
 8. Exercise Procedure. To exercise this Warrant, the Holder must
deliver to the principal office of the Corporation (prior to the Expiration Date) this Warrant, the subscription substantially in the form of Exhibit “A” attached hereto, and the Exercise Price. The Holder may deliver the Exercise Price by
any of the following methods, at its option: (i) in legal tender, (ii) by bank cashier’s or certified check, or (iii) by wire transfer to an account designated by the Corporation. Upon exercise, the Corporation, at its sole expense (including
the payment of any documentary, stamp, issue or transfer taxes), will issue and deliver to Holder, within 10 days after the date on which the Holder exercises this Warrant, certificates for the Warrant Shares purchased hereunder. The Warrant Shares
shall be deemed issued, and the Holder deemed the holder of record of such Warrant Shares, as of the opening of business on the date on which the Holder exercises this Warrant. 
  
 9. Sale of Warrant or Warrant Shares. Neither this Warrant nor any of the Warrant Shares have been registered under
the Act or under the securities laws of any state. This Warrant may not be sold, assigned, transferred, pledged or hypothecated. The Warrant Shares (when issued) may not be sold, assigned, transferred, pledged or hypothecated or otherwise disposed
of except (w) as permitted by any shareholders agreement then in effect, (x) as permitted by any effective registration statement under the Act and by the securities laws of any state in question, or (y) as permitted by an opinion of counsel
reasonably satisfactory to the Corporation stating that such registration under the Act and registration or qualification under the securities laws of any state is not required. Notwithstanding the foregoing, this Warrant or the Warrant Shares (when
issued) may be transferred by Holder to QBP (so long as John A. Dawdy and Andrew G. Hood are the sole general partners of QBP at the time of such transfer), or by Holder or QBP to John A. Dawdy or Andrew G. Hood in their individual capacities;
provided that in the case of any transfer pursuant to this sentence, such transfer is not deemed to be a sale under federal or state securities laws and any such transferee agrees to be bound by the foregoing restrictions on transfer. Until the
Warrant Shares have been registered under the Act and registered and qualified under the securities laws of any state in question, the Corporation shall cause each certificate evidencing any Warrant Shares to bear the following legends: 

 THE SHARES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, OR UNDER THE SECURITIES LAWS OF ANY STATE. THE SHARES MAY NOT BE OFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED OR HYPOTHECATED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, AND SUCH REGISTRATION OR QUALIFICATION AS MAY BE NECESSARY UNDER THE SECURITIES LAWS OF ANY STATE, OR AN OPINION OF COUNSEL SATISFACTORY TO THE CORPORATION THAT SUCH REGISTRATION OR QUALIFICATION IS NOT REQUIRED. 
  
 THE SHARES EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO THE
TERMS OF THE ASSET PURCHASE AGREEMENT BETWEEN THE HOLDER, INTERPORE ORTHOPAEDICS, INC. AND THE OTHER PARTIES NAMED THEREIN DATED AS OF DECEMBER 8, 1999. 
  
 10. Replacement of Warrant. If the Holder provides evidence that this Warrant or any certificate or certificates representing the Warrant Shares
have been lost, stolen, destroyed or mutilated, the Corporation (at the request and expense of the Holder) will issue a replacement warrant upon reasonably satisfactory indemnification by the Holder (if required by the Corporation). 
  
 11. Right of Offset. This Warrant and the Warrant Shares are subject
to the Purchase Agreement, including without limitation, the optional recovery rights set forth in Section 7(f) of the Purchase Agreement, which rights provide, generally, that the number of Warrant Shares that the Holder can acquire pursuant to
this Warrant may be reduced to allow the Corporation to recover the amount of certain Adverse Consequences (as defined in the Purchase Agreement) suffered by the Corporation under the Purchase Agreement. 
  
 12. Governing Law. The laws of the State of Delaware (other than its
conflict of law rules) govern this Warrant. 
  
 (Signature page
follows) 

 IN WITNESS WHEREOF, the Corporation has caused this Warrant to be signed on its behalf, in its corporate
name, by its Chief Executive Officer, and its corporate seal to be hereunto affixed and the said seal attested to by its Secretary as of the          day of December, 1999. 
  

									
	 	 	 	 	 INTERPORE INTERNATIONAL, INC.

	 	 	 	 	 a Delaware corporation

					
	Attest:	 	 	 	 	 	By:	 	 
	 	 	
	 	 	 	 	 	

	 	 	 Richard L. Harrison
	 	 	 	 	 	 David C. Mercer

	 	 	 Secretary
	 	 	 	 	 	 Chief Executive Officer

 Schedule of Warrants 
  
 The following identifies the specific terms of the preceding form of warrant as they apply to the specific Holders
identified below (defined terms refer to terms in the form of warrant): 
  

								
	 Holder

	  	Warrant Shares

	  	 Exercise Date

	  	Exercise Price

	 Andrew G. Hood
	  	25,000	  	Six months from the date of the warrant	  	$	7.125
				
	 John A. Dawdy
	  	25,000	  	Six months from the date of the warrant	  	$	7.125
				
	 Andrew G. Hood
	  	25,000	  	Twelve months from the date of the warrant	  	$	7.625
				
	 John A. Dawdy
	  	25,000	  	Twelve months from the date of the warrant	  	$	7.625
				
	 Andrew G. Hood
	  	25,000	  	Eighteen months from the date of the warrant	  	$	8.125
				
	 John A. Dawdy
	  	25,000	  	Eighteen months from the date of the warrant	  	$	8.125
				
	 Andrew G. Hood
	  	25,000	  	Twenty-four months from the date of the warrant	  	$	8.625
				
	 John A. Dawdy
	  	25,000	  	Twenty-four months from the date of the warrant	  	$	8.625

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