Document:

Separation Agreement and General Release

 Exhibit 10.1 
 SEPARATION AGREEMENT AND GENERAL RELEASE 
 Separation Agreement and General Release (“Agreement and Release”) by and between P. Steven Ainsley (“Employee”) and The New York Times Company (“The Times”), including its subsidiary, Globe Newspaper Company
(collectively, the “Company”): 
 WHEREAS, Employee’s last day of employment will be December 31, 2009 (the
“Separation Date”); and 
 WHEREAS, Employee has at least twenty-one (21) days to consider the terms of this
Agreement and Release; and 
 WHEREAS, Employee’s receipt of benefits under this Agreement and Release is conditioned upon
Employee’s timely execution of this Agreement and Release no earlier than the Separation Date; 
 NOW, THEREFORE, in
exchange for and in consideration of the mutual promises set forth in this Agreement and Release, it is agreed as follows: 
  

	1.	(a) Employee shall be given until the Separation Date to consider and decide whether to execute this Agreement and Release by signing it and submitting it to Marcijane
Kraft Esq., Vice President and Assistant General Counsel, The New York Times Company, 620 Eighth Avenue, 18th Floor, New York, NY 10018, fax number: (212) 556-4634. Employee shall be given a period of seven (7) days from the date of
signing and submitting this Agreement and Release (the “Revocation Period”) during which Employee may revoke this Agreement and Release in writing addressed to Ms. Kraft at the address or facsimile number listed above.

 (b) If Employee signs and submits this Agreement and Release, does not revoke it during the Revocation Period,
and satisfies all other prerequisite conditions in this Agreement and Release, then this Agreement and Release will become effective and enforceable the day after the end of the Revocation Period (the “Effective Date”). In the event
Employee does not sign or submit this Agreement and Release or if Employee revokes this Agreement and Release during the Revocation Period, this Agreement and Release (including, but not limited to, the obligation of the Company to make the payments
or provide the benefits set forth in paragraph 2(b) below, but not including the payments set forth in paragraph 2(c) below) shall automatically be deemed null and void. 
  

	2.	(a) By timely signing and submitting this Agreement and Release, Employee agrees and acknowledges that Employee has terminated any right to employment after the
Separation Date or reemployment with the Company. 

 (b) If Employee has timely executed and submitted this
Agreement and Release and otherwise complies with all the prerequisite terms and conditions of the Agreement and Release, and does not revoke this Agreement and Release, then Employee shall be entitled to receive the following benefits: 

(i) A Special Payment in the gross amount of five-hundred and five thousand dollars and no cents ($505,000.00). This Special Payment will
be subject to all applicable withholding deductions. The Special Payment will be made in installments, based upon the payroll frequency that applied to Employee prior to the Separation Date. 

 (ii) The Company will pay for Employee’s continued Group Health Plan coverage under the
Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) and the terms of the applicable Group Health Plan, for the sooner of one (1) year or when Employee becomes employed by another employer and becomes eligible
to receive coverage under such employer’s group health plans. 
 (iii) For a period of one (1) year
following Employee’s Separation Date, Employee will continue to receive financial planning counseling from Prosper Advisors, whose current address is 950 Third Avenue, 20th Floor, New York, NY 10022, as paid by the Company for executives who are in Employee’s job band and at
Employee’s salary level. 
 (iv) The Company will reimburse Employee for non-deductible interest expense, if any, on
Employee’s residences that Employee incurred in the 2009 tax year, grossed up for tax purposes in accordance with the formula employed for such reimbursements to Employee in prior years. Such reimbursement shall be contingent on Employee’s
financial advisor calculating the amount of non-deductible interest, if any, on the same basis employed in prior years and providing the Company with sufficient supporting documentation for that calculation. Such reimbursement will be paid to
Employee within sixty (60) days following the Company’s receipt of the calculation and supporting documentation, so long as the calculation and supporting documentation are deemed appropriate by the Company. 
 (v) Employee is a Participant in The New York Times Company Supplemental Executive Retirement Plan (“SERP”) who has reached age 55.
Under Section 2.1(b) of SERP, the SERP Committee has consented to Employee’s early retirement, and Employee is therefore eligible to receive SERP benefits, pursuant to its terms, upon Employee’s early retirement. 
  

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 (c) In addition, whether or not Employee signs this Agreement and Release, Employee shall be
entitled to receive the following benefits: 
 (i) By virtue of Employee’s retirement Employee will be eligible to receive
payments under the Company’s Long-Term Incentive Plan in February following the end of each cycle at the rate earned under the Company’s Long-Term Incentive Plan or the relevant cycle as approved by the compensation committee of The New
York Times Company’s Board of Directors, as follows: 
  

			
	 Cycle
	  	 Target Award (Full or prorated)

	2005-2009	  	Full payment
	2006-2010	  	4/5 payment
	2007-2009	  	Full payment
	2008-2010	  	2/3 payment
	2009-2011	  	1/3 payment

 (ii) All of Employee’s restricted stock awards/units and cash-settled restricted
stock units awarded under The New York Times Company 1991 Executive Stock Incentive Plan, as amended, will vest upon Employee’s retirement. 
 (iii) All of Employee’s granted options awarded under The New York Times Company 1991 Executive Stock Incentive Plan, as amended, will vest upon retirement, except that in accordance with their
terms, the options that would become exercisable more than one (1) year from grant will vest thirty (30) days after Employee’s retirement. 
 (iv) All compensation remaining in any account established for Employee’s benefit under The New York Times Company Deferred Executive Compensation Plan, as amended, payments from which account are to
be made in accordance with the terms of The New York Times Company Deferred Executive Compensation Plan, as amended. 
  

	3.	Employee hereby agrees and acknowledges that: 

 (a) The payments to be made and benefits to be provided in accordance with the terms of paragraph 2(b) of this Agreement and Release exceed any sums or benefits to which Employee would otherwise be
entitled under any applicable policy, plan and/or procedure of the Company, any previous agreement or understanding between the Employee and the Company or any agreement between the Company; 
 (b) Following the Separation Date, except as provided for in this Agreement and Release and without impacting any accrued vested benefits
under any applicable tax-qualified retirement or other benefit plans of the Company, Employee will no longer participate or accrue service credit of any kind in any Times- or Company-administered employee benefits plan; 
  

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 (c) Except as specified herein, the Company’s obligations under this Agreement and
Release are in full discharge of any and all of The Times’ and the Company’s liabilities and obligations to Employee of any type whatsoever, whether written or oral, including, without limitation, any claim for guaranteed employment,
severance pay, bonus compensation or other remuneration of any type; 
 (d) Employee has no known workplace injuries or
occupational diseases. 
 (e) Employee agrees that Employee: (i) has carefully read this Agreement and Release in its
entirety; (ii) has had an opportunity to consider fully the terms of this Agreement and Release for a period of at least twenty-one (21) days; (iii) has been advised by the Company to consult with an attorney of Employee’s
choosing in connection with this Agreement and Release; (iv) has discussed this Agreement and Release with Employee’s independent legal counsel, or has had a reasonable opportunity to do so, and has had answered to Employee’s
satisfaction any questions Employee has asked with regard to the meaning and significance of any of the provisions of this Agreement and Release; (v) fully understands the significance of all of the terms and conditions of this Agreement and
Release; and (vi) is signing this Agreement and Release voluntarily and of Employee’s own free will and assents to all the terms and conditions contained herein. 
  

	4.	(a) In consideration of the payments and other benefits set forth in paragraph 2(b) of this Agreement and Release, Employee for himself and for Employee’s heirs,
executors, dependents, administrators, trustees, legal representatives and assigns (hereinafter collectively referred to as the “Releasors”), hereby forever release and discharge the Company, and any and all of its shareholders, parents,
subsidiaries, divisions, affiliated and related entities, employee benefit and/or pension plans or funds, successors and assigns, and any and all of its or their past, present or future officers, directors, agents, stockholders, trustees,
fiduciaries, administrators, employees or assigns (whether acting as agents for the Company or its employee benefit plans, or in their individual capacities) (hereinafter collectively referred to as “Releasees”), from any and all claims,
demands, causes of action, and liabilities of any kind whatsoever (based upon any legal or equitable theory, whether contractual, common-law, statutory, federal, state, local or otherwise), whether known or unknown, by reason of any act, omission,
transaction, conduct or occurrence up to and including the date on which Employee signs this Agreement and Release. 

 (b) Without limiting the generality of the foregoing, this Agreement and Release is intended to and shall release Releasees from all claims, whether known or unknown, which Releasors ever had, now have, or may have against Releasees arising
out of Employee’s employment with the Company and termination from employment up to and including the date on which Employee signs this Agreement and Release including, without limitation: (i) claims under the Age Discrimination in
Employment Act; the Older Workers Benefit Protection Act; Title VII of the Civil Rights Act of 1964, the Equal Pay Act, the Worker Adjustment and Retraining Notification Act, the Employee Retirement Income Security Act of 1974 (excluding claims for
accrued vested benefits under any company-sponsored tax qualified pension plan in accordance with the terms of

  

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such plan and applicable law), the Americans with Disabilities Act, the Family and Medical Leave Act, Massachusetts General Laws Chapters 149, 151, 151B, and 214, the New York State Human Rights
Law, and the New York City Administrative Code, all as amended; (ii) any other claims of discrimination or retaliation in employment (whether based on federal, state or local law or regulation, statutory or decisional), as well as any claims in
contract or tort including, but not limited to, claims for breach of implied or express contracts; and (iii) any claims arising out of the terms and conditions of Employee’s employment with the Company and any and all claims arising out of
execution of this Agreement and Release. 
 (c) Employee acknowledges and agrees that by virtue of the foregoing, Employee has
waived any relief available to Employee (including without limitation, monetary damages, equitable relief and reinstatement) under any of the claims and/or causes of action waived in this Agreement and Release. Therefore, Employee agrees that
Employee will not accept any award or settlement from any source or proceeding (including but not limited to any proceeding brought by any other person or by any government agency) with respect to any claim or right waived in this Agreement and
Release. 
 (d) Notwithstanding the provisions of this paragraph 4, nothing herein shall waive or release any rights,
obligations, or duties arising out of this Agreement; any rights, obligations, or duties arising out of any workers’ compensation statute; or any rights to receive unemployment compensation benefits. 
  

	5.	(a) In consideration of the benefits set forth in this Agreement and Release, the Company for itself and for its parents, subsidiaries, divisions, affiliated and
related entities, employee benefit and/or pension plans or funds, successors and assigns (hereinafter collectively referred to as the “Company Releasors”), hereby forever release and discharge Employee from any and all claims, demands,
causes of action, and liabilities of any kind whatsoever (based upon any legal or equitable theory, whether contractual, common-law, statutory, federal, state, local or otherwise), whether known or unknown, by reason of any act, omission,
transaction, conduct or occurrence up to and including the date on which Employee signs this Agreement and Release. 

 (b) The Company Releasors acknowledge and agree that by virtue of the foregoing, they have waived any relief available to them (including without limitation, monetary damages, equitable relief and reinstatement) under any of the claims
and/or causes of action waived in this Agreement and Release. 
 (c) The Company agrees to indemnify and defend the Employee in
any action in which he is named to the extent provided for in the Company’s Directors and Officers insurance policy. 
  

	6.	 Employee agrees that, in the event Employee is subpoenaed by any person or entity (including, but not limited to, any government agency) to give
testimony (in a deposition, court proceeding, arbitration or otherwise) which in any way relates to Employee’s employment with the Company, Employee will give prompt written notice of such

  

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request to Kenneth A. Richieri (or his successor), Senior Vice President, General Counsel and Secretary for The New York Times Company, 620 Eighth Avenue, 17th Floor, New York, NY 10018 and will make no disclosure until
Releasees have had a reasonable opportunity to contest the right of the requesting person. 
  

	7.	Employee agrees not to in any way disparage the Company or any other Releasee, or make or solicit any comments, statements, or the like to the media or to others that
may be considered to be derogatory or detrimental to the good name or business reputation of the Company or any other Releasee, nor will Employee disclose any confidential or proprietary information obtained by Employee, or to be obtained by
Employee, in the course of Employee’s employment. Nothing contained in this Agreement and Release is intended to prohibit or restrict Employee from providing truthful information concerning Employee’s employment or the Company’s
business activities to any government, regulatory or self-regulatory agency. 

  

	8.	The following individuals will be advised that they are not to in any way disparage Employee, or make or solicit any comments, statements, or the like to the media or
to others that may be considered to be derogatory or detrimental to the good name or business reputation of Employee; Janet Robinson, Arthur O. Sulzberger, Jr., Michael Golden, Scott Heekin-Canedy, Martin Nisenholtz, Kenneth A. Richieri and James
Follo. Nothing contained in this Agreement and Release is intended to prohibit or restrict any of the foregoing individuals from providing truthful information concerning Employee’s employment or business activities to any government,
regulatory or self-regulatory agency. 

  

	9.	Employee agrees that Employee has or will return to the Company all property belonging to the Company, including but not limited to equipment, keys, documents or
materials in Employee’s possession or control and, if not yet returned, will do so on the Separation Date. 

  

	10.	In the event that either party is found by a court of law to have breached its or his respective obligations under breaches paragraphs 6, 7, 8 or 9, then the
non-breaching party shall be entitled to pursue all relief legally available to it, including but not limited to, in the event that the Employee is found to be the breaching party, forfeiture of any of the unpaid benefits specified in paragraph
2(b). 

  

	11.	Except as may be preempted by the Employee Retirement Income Security Act of 1974, as amended, and other applicable federal law, this Agreement and Release shall be
governed by the laws of the Commonwealth of Massachusetts, and the parties in any action arising out of this Agreement and Release shall be subject to the jurisdiction and venue of the federal and state courts, as applicable, in the County of
Suffolk, Commonwealth of Massachusetts. 

  

	12.	This Agreement and Release is binding upon, and shall inure to the benefit of, the parties and their respective heirs, executors, administrators, successors and
assigns. 

  

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	13.	If, at any time after the date of the execution of this Agreement and Release, any provision of this Agreement and Release shall be held by any court of competent
jurisdiction to be illegal, void, or unenforceable, such provision shall be of no force and effect. The illegality or unenforceability of such provision, however, shall have no effect upon, and shall not impair the enforceability of, any other
provision of the Agreement and Release. If a court should determine that any portion of this Agreement and Release is overbroad or unreasonable, such provision shall be given effect to the maximum extent possible by narrowing or enforcing in part
that aspect of the provision found to be overbroad or unreasonable. 

  

	14.	This Agreement and Release constitutes the complete understanding between the parties and may not be changed orally. Employee acknowledges that neither the Company, nor
any representative of the Company has made any representation or promises to Employee other than as expressly set forth herein. Except as provided herein, no other promises or agreements shall be binding unless in writing and signed after the
Separation Date by the parties to be bound thereby. 

  

	15.	This Agreement and Release is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and shall be construed
and interpreted in accordance with such intent. To the extent that any amount payable pursuant to this letter Agreement and Release is subject to Code Section 409A, it shall be paid in a manner that will comply therewith, including proposed,
temporary or final regulations or any other guidance issued by the Secretary of the Treasury and the Internal Revenue Service with respect to Code Section 409A (the “Guidance”). In the event that any provision of this Agreement and
Release would fail to satisfy the requirements of Code Section 409A and the Guidance, the Company shall be permitted to reform this Agreement and Release to maintain to the maximum extent practicable the original intent thereof without
violating the requirements of Code Section 409A or the Guidance. 

 THIS SEPARATION AGREEMENT AND GENERAL
RELEASE HAS IMPORTANT LEGAL CONSEQUENCES TO EMPLOYEE. EMPLOYEE SHOULD CONSULT AN ATTORNEY OF EMPLOYEE’S CHOICE PRIOR TO SIGNING THIS DOCUMENT. 
  

							
		 		 	THE NEW YORK TIMES COMPANY
				
	 /s/ P. STEVEN AINSLEY
	 		 	By:	 	 /s/ Janet L. Robinson

	P. STEVEN AINSLEY	 		 		 	Janet L. Robinson
		 		 		 	President and Chief Executive Officer
			
	Dated: January 6, 2010	 		 	Dated: January 12, 2010

  

 7Form of Common Stock Purchase Warrant

 Exhibit 4.1 
 COMMON STOCK PURCHASE WARRANT 
 MDRNA, INC. 

 

			
	Warrant Shares:     	  	
		  	  
 Issue Date: January
    , 2010 (“Issue Date”)

 THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that,
for value received,                      (the “Holder”) is entitled, upon the terms and subject to the limitations on
exercise and the conditions hereinafter set forth, at any time on or after the Issue Date and on or prior to the close of business on the five year anniversary of the Issue Date (the “Termination Date”) but not thereafter, to
subscribe for and purchase from MDRNA, Inc., a Delaware corporation (the “Company”), up to      shares (the “Warrant Shares”) of Common Stock. The purchase price of one share of Common
Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b). 
 Section 1. Definitions.
Capitalized terms used and not otherwise defined herein shall have the meanings set forth in that certain Securities Purchase Agreement (the “Purchase Agreement”), dated January 13, 2010, among the Company and the purchasers
signatory thereto. 
 Section 2. Exercise. 
 a) Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Issue Date and on or before the
Termination Date by delivery to the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of the Holder appearing on the books of the Company) of a duly executed
facsimile copy of the Notice of Exercise Form annexed hereto; and, within 3 Trading Days of the date said Notice of Exercise is delivered to the Company, the Company shall have received payment of the aggregate Exercise Price of the shares thereby
purchased by wire transfer or cashier’s check drawn on a United States bank. Notwithstanding anything herein to the contrary, the Holder shall not be required to physically surrender this Warrant to the Company until the Holder has purchased
all of the Warrant Shares available hereunder and the Warrant has been exercised in full, in which case, the Holder shall surrender this Warrant to the Company for cancellation within 3 Trading Days of the date the final Notice of Exercise is
delivered to the Company. Partial exercises of this Warrant resulting in purchases of a portion of the total number of Warrant Shares available hereunder shall have the effect of lowering the outstanding number of Warrant Shares purchasable
hereunder in an amount equal to the applicable number of Warrant Shares purchased. The Holder and the Company shall maintain records showing the number of Warrant Shares purchased and the date of such purchases. The Company shall deliver any
objection to any Notice of Exercise Form within 1 Business Day of receipt of such notice. In the event of any dispute or discrepancy, the records of the Holder shall be controlling and determinative in the

 
absence of manifest error. The Holder and any assignee, by acceptance of this Warrant, acknowledge and agree that, by reason of the provisions of this paragraph, following the purchase of a
portion of the Warrant Shares hereunder, the number of Warrant Shares available for purchase hereunder at any given time may be less than the amount stated on the face hereof. 
 b) Exercise Price. The exercise price per share of the Common Stock under this Warrant shall be $1.00, subject to adjustment
hereunder (the “Exercise Price”). 
 c) Cashless Exercise. If at any time during the term of this
Warrant there is no effective Registration Statement registering, or no current prospectus available for, the issuance or resale of the Warrant Shares to or by the Holder, then this Warrant may also be exercised at such time by means of a
“cashless exercise” in which the Holder shall be entitled to receive a certificate for the number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where: 
  

					
	(A)	  	=	  	the VWAP on the Trading Day immediately preceding the date of such election;
			
	(B)	  	=	  	the Exercise Price of this Warrant, as adjusted; and
			
	(X)	  	=	  	 the number of Warrant Shares issuable upon exercise of this Warrant in accordance with
 the terms of this Warrant by means of a cash exercise rather than a cashless exercise.

 Notwithstanding anything herein to the contrary, on the Termination Date, this
Warrant shall be automatically exercised via cashless exercise pursuant to this Section 2(c). 
 d) Holder’s
Restrictions. Notwithstanding anything to the contrary contained in this Warrant, this Warrant shall not be exercisable by the Holder hereof to the extent (but only to the extent) that the Holder or any of its affiliates would beneficially own
in excess of [4.9%][9.9%] (the “Maximum Percentage”) of the Common Stock. To the extent the above limitation applies, the determination of whether this Warrant shall be exercisable (vis-à-vis other convertible,
exercisable or exchangeable securities owned by the Holder or any of its affiliates) and of which such securities shall be exercisable (as among all such securities owned by the Holder) shall, subject to such Maximum Percentage limitation, be
determined on the basis of the first submission to the Company for conversion, exercise or exchange (as the case may be). No prior inability to exercise this Warrant pursuant to this paragraph shall have any effect on the applicability of the
provisions of this paragraph with respect to any subsequent determination of exercisability. For the purposes of this paragraph, beneficial ownership and all determinations and calculations (including, without limitation, with respect to
calculations of percentage ownership) shall be determined in accordance with Section 13(d) of the Exchange Act (as defined in the Purchase Agreement) and the rules and regulations promulgated thereunder. The provisions of this paragraph shall
be implemented in a manner otherwise than in strict conformity with the terms of this

 
paragraph to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended Maximum Percentage beneficial ownership limitation herein contained or to make
changes or supplements necessary or desirable to properly give effect to such Maximum Percentage limitation. The limitations contained in this paragraph shall apply to a successor Holder of this Warrant. The holders of Common Stock shall be third
party beneficiaries of this paragraph and the Company may not waive this paragraph without the consent of holders of a majority of its Common Stock. For any reason at any time, upon the written or oral request of the Holder, the Company shall within
one (1) Business Day confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding, including by virtue of any prior conversion or exercise of convertible or exercisable securities into Common Stock,
including, without limitation, pursuant to this Warrant or securities issued pursuant to the Purchase Agreement. 
 e)
Mechanics of Exercise. 
 i. Delivery of Certificates Upon Exercise. Certificates for shares
purchased hereunder shall be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s prime broker with the Depository Trust Company through its Deposit Withdrawal Agent Commission (“DWAC”)
system if the Company is then a participant in such system and either (A) there is an effective Registration Statement permitting the resale of the Warrant Shares by the Holder or this Warrant is being exercised via cashless exercise, and
otherwise by physical delivery to the address specified by the Holder in the Notice of Exercise within 3 Trading Days from the delivery to the Company of the Notice of Exercise Form, surrender of this Warrant (if required) and payment of the
aggregate Exercise Price as set forth above (the “Warrant Share Delivery Date”). This Warrant shall be deemed to have been exercised on the date an Exercise Notice is received by the Company. The Warrant Shares shall be deemed to
have been issued, and Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised by payment to the Company of the
Exercise Price (or by cashless exercise, if permitted) and all taxes required to be paid by the Holder, if any, pursuant to Section 2(e)(vi) prior to the issuance of such shares, have been paid. If the Company fails for any reason to deliver to
the Holder certificates evidencing the Warrant Shares subject to a Notice of Exercise by the Warrant Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares
subject to such exercise (based on the VWAP of the Common Stock on the date of the applicable Notice of Exercise), $10 per Trading Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for
each Trading Day after such Warrant Share Delivery Date until such certificates are delivered. 

 ii. Delivery of New Warrants Upon Exercise. If this Warrant shall
have been exercised in part, the Company shall, at the request of a Holder and upon surrender of this Warrant certificate, at the time of delivery of the certificate or certificates representing Warrant Shares, deliver to Holder a new Warrant
evidencing the rights of Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant. 
 iii. Rescission Rights. If the Company fails to cause the Transfer Agent to transmit to the Holder a certificate or
the certificates representing the Warrant Shares pursuant to Section 2(e)(i) by the Warrant Share Delivery Date, then the Holder will have the right to rescind such exercise. 
 iv. Compensation for Buy-In on Failure to Timely Deliver Certificates Upon Exercise. In addition to any other rights
available to the Holder, if the Company fails to cause the Transfer Agent to transmit to the Holder a certificate or the certificates representing the Warrant Shares pursuant to an exercise on or before the Warrant Share Delivery Date, and if after
such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage firm otherwise purchases, shares of Common Stock to deliver in satisfaction of a sale by the Holder of the Warrant
Shares which the Holder anticipated receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount by which (x) the Holder’s total purchase price (including brokerage
commissions, if any) for the shares of Common Stock so purchased exceeds (y) the amount obtained by multiplying (1) the number of Warrant Shares that the Company was required to deliver to the Holder in connection with the exercise at
issue times (2) the price at which the sell order giving rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Warrant and equivalent number of Warrant Shares for which such
exercise was not honored or deliver to the Holder the number of shares of Common Stock that would have been issued had the Company timely complied with its exercise and delivery obligations hereunder. For example, if the Holder purchases Common
Stock having a total purchase price of $11,000 to cover a Buy-In with respect to an attempted exercise of shares of Common Stock with an aggregate sale price giving rise to such purchase obligation of $10,000, under clause (A) of the
immediately preceding sentence the Company shall be required to pay the Holder $1,000. The Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company,
evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive
relief with respect to the Company’s failure to timely deliver certificates representing shares of Common Stock upon exercise of the Warrant as required pursuant to the terms hereof. 

 v. No Fractional Shares or Scrip. No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share which Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment
in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole share. 
 vi. Charges, Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue or transfer tax or other incidental expense in respect of the
issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such certificates shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however,
that in the event certificates for Warrant Shares are to be issued in a name other than the name of the Holder, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and
the Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental thereto. 
 vii. Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof. 
 Section 3. Certain Adjustments. 
 a) Stock Dividends and Splits. If the Company, at any time while this Warrant is outstanding: (i) pays a stock dividend or otherwise make a distribution or distributions on shares of its
Common Stock or any other equity or equity equivalent securities payable in shares of Common Stock (which, for avoidance of doubt, shall not include any shares of Common Stock issued by the Company upon exercise of this Warrant),
(ii) subdivides outstanding shares of Common Stock into a larger number of shares, (iii) combines (including by way of reverse stock split) outstanding shares of Common Stock into a smaller number of shares or (iv) issues by
reclassification of shares of the Common Stock any shares of capital stock of the Company, then in each case the Exercise Price shall be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding
treasury shares, if any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding immediately after such event and the number of shares issuable upon exercise of this Warrant
shall be proportionately adjusted such that the aggregate Exercise Price of this Warrant shall remain unchanged. Any adjustment made pursuant to this Section 3(a) shall become effective immediately after the record date for the determination of
stockholders entitled to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification. 

 b) Subsequent Equity Sales. If the Company or any Subsidiary thereof, as applicable,
at any time while this Warrant is outstanding, shall sell or grant any option to purchase, or sell or grant any right to reprice, or otherwise dispose of or issue (or announce any offer, sale, grant or any option to purchase or other disposition)
any Common Stock or Common Stock Equivalents entitling any Person to acquire shares of Common Stock, at an effective price per share less than the then Exercise Price (such lower price, the “Base Share Price” and such issuances
collectively, a “Dilutive Issuance”) (it being understood for purposes of the foregoing that if the holder of the Common Stock or Common Stock Equivalents so issued shall at any time, whether by operation of purchase price
adjustments, reset provisions, floating conversion, exercise or exchange prices or otherwise, or due to warrants, options or rights per share which are issued in connection with such issuance, be entitled to receive shares of Common Stock at an
effective price per share which is less than the Exercise Price, such issuance shall be deemed to have occurred for less than the Exercise Price on such date of the Dilutive Issuance), then the Exercise Price shall be reduced and only reduced to
equal the Base Share Price; provided, however, no adjustment pursuant to this Section 3(b) shall cause the Exercise Price to be less than $0.94 (as adjusted for any stock dividend, stock split, stock combination, reclassification
or similar transaction occurring after the date hereof) (the “Floor Price”) until such date that Shareholder Approval is (I) obtained or is not required under the rules and regulations of the Trading Market on which the shares
of Common Stock are then listed for the Company’s issuance of all of the Securities as described in the Transaction Documents or (II) no longer required to eliminate restrictions on the issuance of shares of Common Stock pursuant to the
Transactions Documents or floor prices to limit upward adjustments to the number of shares of Common Stock issuable upon exercise or conversion of exercisable or convertible instruments. Such adjustment shall be made whenever such Common Stock or
Common Stock Equivalents are issued or deemed issued. Notwithstanding the foregoing but subject to the immediately preceding proviso, no adjustments shall be made, paid or issued under this Section 3(b) in respect of an Exempt Issuance. The
Company shall notify the Holder in writing, no later than the Trading Day following the issuance or deemed issuance of any Common Stock or Common Stock Equivalents subject to this Section 3(b), indicating therein the applicable issuance price,
or applicable reset price, exchange price, conversion price and other pricing terms (such notice the “Dilutive Issuance Notice”). For purposes of clarification, whether or not the Company provides a Dilutive Issuance Notice pursuant
to this Section 3(b), upon the occurrence of any Dilutive Issuance, after the date of such Dilutive Issuance the Holder is entitled to receive Warrant Shares at the Base Share Price regardless of whether the Holder accurately refers to the Base
Share Price in the Notice of Exercise. The Company shall provide each stockholder entitled to vote at the next meeting (whether a special meeting or an annual meeting) of stockholders of the Company (the “Shareholder Meeting”) a
proxy statement soliciting each such stockholder’s affirmative vote at the Shareholder Meeting for approval of resolutions (“Resolutions”) providing for the Company’s issuance of all of the Securities as described in the
Transaction Documents and the elimination of the Floor Price in accordance with applicable law and the rules and regulations of the principal Trading Market (which is the Nasdaq Global Market) (such affirmative approval being referred to herein as
the “Shareholder Approval”), and the Company shall use its commercially reasonable efforts to solicit its stockholders’ approval of the Resolutions and to cause the Board to recommend to the stockholders that they approve the
Resolutions. 

 c) Subsequent Rights Offerings. If the Company, at any time while the Warrant is
outstanding, shall issue rights, options or warrants to all holders of Common Stock (and not to Holders) entitling them to subscribe for or purchase shares of Common Stock at a price per share less than the VWAP at the record date mentioned below,
then, the Exercise Price shall be multiplied by a fraction, of which the denominator shall be the number of shares of the Common Stock outstanding on the date of issuance of such rights or warrants plus the number of additional shares of Common
Stock offered for subscription or purchase, and of which the numerator shall be the number of shares of the Common Stock outstanding on the date of issuance of such rights or warrants plus the number of shares which the aggregate offering price of
the total number of shares so offered (assuming receipt by the Company in full of all consideration payable upon exercise of such rights, options or warrants) would purchase at such VWAP. Such adjustment shall be made whenever such rights or
warrants are issued, and shall become effective immediately after the record date for the determination of stockholders entitled to receive such rights, options or warrants. 
 d) Pro Rata Distributions. If the Company, at any time while this Warrant is outstanding, shall distribute to all holders of Common
Stock (and not to Holders of the Warrants) evidences of its indebtedness or assets (including cash and cash dividends) or rights or warrants to subscribe for or purchase any security other than the Common Stock (which shall be subject to
Section 3(b)), then in each such case the Exercise Price shall be adjusted by multiplying the Exercise Price in effect immediately prior to the record date fixed for determination of stockholders entitled to receive such distribution by a
fraction of which the denominator shall be the VWAP determined as of the record date mentioned above, and of which the numerator shall be such VWAP on such record date less the then per share fair market value at such record date of the portion of
such assets or evidence of indebtedness so distributed applicable to one outstanding share of the Common Stock as determined by the Board of Directors in good faith. In either case the adjustments shall be described in a statement provided to the
Holder of the portion of assets or evidences of indebtedness so distributed or such subscription rights applicable to one share of Common Stock. Such adjustment shall be made whenever any such distribution is made and shall become effective
immediately after the record date mentioned above. 
 e) Fundamental Transaction. If, at any time while this Warrant is
outstanding, (i) the Company effects any merger or consolidation of the Company with or into another Person, (ii) the Company effects any sale of all or substantially all of its assets in one or a series of related transactions,
(iii) any tender offer or exchange offer (whether by the Company or another Person) is completed pursuant to which holders of Common Stock are permitted to tender or exchange their shares for other securities, cash or property or (iv) the
Company effects any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted into or exchanged for other securities, cash or property (each “Fundamental
Transaction”), then, upon any subsequent exercise of this Warrant, the Holder shall have the right to receive, for each Warrant Share that would have been issuable upon such exercise immediately prior to the occurrence of such Fundamental
Transaction, the

 
number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and any additional consideration (the “Alternate
Consideration”) receivable as a result of such merger, consolidation or disposition of assets by a holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such event. 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 share of Common Stock 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 Common Stock 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. To the extent necessary to effectuate the foregoing provisions, any successor to the Company or surviving entity in such Fundamental Transaction shall issue to the Holder a new warrant consistent with the foregoing provisions and
evidencing the Holder’s right to exercise such warrant into Alternate Consideration. The terms of any agreement pursuant to which a Fundamental Transaction is effected shall include terms requiring any such successor or surviving entity to
comply with the provisions of this Section 3(e) and insuring that this Warrant (or any such replacement security) will be similarly adjusted upon any subsequent transaction analogous to a Fundamental Transaction. Notwithstanding anything to the
contrary, in the event of a Fundamental Transaction that is (1) an all cash transaction, (2) a “Rule 13e-3 transaction” as defined in Rule 13e-3 under the Exchange Act or (3) a Fundamental Transaction involving a
person or entity not traded on a national securities exchange, the Nasdaq Global Select Market, the Nasdaq Global Market, or the Nasdaq Capital Market, the Company or any successor entity shall pay at the Holder’s option, exercisable at any
time concurrently with or within 30 days after the consummation of the Fundamental Transaction, an amount of cash equal to the value of this Warrant as determined in accordance with the Black Scholes Option Pricing Model obtained from the
“OV” function on Bloomberg L.P. using (A) a price per share of Common Stock equal to the VWAP of the Common Stock for the Trading Day immediately preceding the date of consummation of the applicable Fundamental Transaction, (B) a
risk-free interest rate corresponding to the U.S. Treasury rate for a 30 day period immediately prior to the consummation of the applicable Fundamental Transaction, (C) an expected volatility equal to the 100 day volatility obtained
from the “HVT” function on Bloomberg L.P. determined as of the Trading Day immediately following the public announcement of the applicable Fundamental Transaction and (D) a remaining option time equal to the time between the date of
the public announcement of such transaction and the Termination Date. 
 f) Calculations. All calculations under this
Section 3 shall be made to the nearest cent or the nearest 1/100th of a share, as the case may be. For purposes of this Section 3, the number of shares of Common Stock deemed to be issued and outstanding as of a given date shall be the sum
of the number of shares of Common Stock (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 mail to the Holder a notice setting forth the Exercise Price after such adjustment and setting forth a brief statement of the facts requiring such adjustment. If the Company enters into a Variable Rate
Transaction, despite the prohibition thereon in the Purchase Agreement, the Company shall be deemed to have issued Common Stock or Common Stock Equivalents at the lowest possible conversion or exercise price at which such securities may be converted
or exercised. 
 ii. Notice to Allow Exercise by Holder. If (A) the Company shall declare a dividend
(or any other distribution in whatever form) on the Common Stock, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Common Stock, (C) the Company shall authorize the granting to all holders of the
Common Stock 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 stockholders of the Company shall be required in connection with any reclassification of the Common
Stock, 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, of any compulsory share exchange whereby the Common Stock is 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 mailed to the Holder at its last 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 Common Stock 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 Common Stock of record
shall be entitled to exchange their shares of the Common Stock for securities, cash or other property deliverable upon such reclassification, consolidation, merger, sale, transfer or share exchange; provided that the failure to mail such notice or
any defect therein or in the mailing thereof shall not affect the validity of the corporate action required to be specified in such notice. To the extent that any notice provided hereunder 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 Current Report on Form 8-K. The Holder is 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. 

 Section 4. Transfer of Warrant. 
 a) Transferability. This Warrant and all rights hereunder (including, without limitation, any registration rights) 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. The Warrant, if properly assigned, may be exercised by a new holder for the purchase of Warrant Shares 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 Issue Date and shall be identical with this
Warrant except as to the number of Warrant Shares 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. 
 Section 5. Miscellaneous. 
 a) No Rights as Stockholder Until
Exercise. This Warrant does not entitle the Holder to any voting rights or other rights as a stockholder of the Company prior to the exercise hereof as set forth in Section 2(e)(i). 
 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 Shares, 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, it will reserve from its authorized
and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant 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 executing stock certificates to execute and issue the necessary certificates for the Warrant Shares 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 may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the Trading Market upon which the Common Stock 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, 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 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 Shares 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 Shares acquired upon the exercise of this Warrant, if not issued to the Holder pursuant to the Registration Statement, and the Holder does not exercise via “cashless exercise,”
may 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 Holder’s rights, powers or remedies, notwithstanding the fact that all rights hereunder
terminate on the Termination Date. 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 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 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 Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise
to any liability of Holder for the purchase price of any Common Stock or as a stockholder 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)
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 of the Company and the successors and permitted
assigns of Holder. The provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by the Holder or holder of Warrant Shares. 

 l) Amendment. This Warrant may be modified or amended or the provisions hereof waived
with the written consent of the Company and the Holder, provided that a party may provide a waiver in writing as to itself. The Holder shall be entitled, at its option, to the benefit of any amendment of any other similar warrant issued under the
Purchase Agreement. 
 m) 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. 
 n) 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. 
 ******************** 
 (Signature Pages Follow) 

 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. 
  

			
	MDRNA, INC.
		
	By:	 	  

	Name:	 	J. Michael French
	Title:	 	President and CEO

 NOTICE OF EXERCISE 
  

	TO:	MDRNA, INC. 

 (1) The
undersigned hereby elects to purchase              Warrant Shares 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 Shares
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 Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 2(c).

 (3) Please issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in
such other name as is specified below: 
      
 The Warrant Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate to: 
      
 (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:
                    
                    
                    
                    
                    
                    
                    
                     
  
  

 ASSIGNMENT FORM 
 (To assign the foregoing warrant, execute 
 this form and
supply required information. 
 Do not use this form to exercise the warrant.) 
 FOR VALUE RECEIVED, [        ] all of or [    ] shares of
the foregoing Warrant and all rights evidenced thereby are hereby assigned to 
                     
                    
                    
                    
                    
                     whose address is 
                     
                    
                    
                    
                    
                    
                    
                    . 
                     
                    
                    
                    
                    
                    
                    
                     
 Dated:             ,      
  

			
	 Holder’s Signature:
	 	  

		
	 Holder’s Address:
	 	  

		
		 	  

  
 Signature
Guaranteed:                     
                    
                    
                      
 NOTE:
The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and
those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

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