Document:

Exhibit 10.2

 

	
  

  	
   

  	
  WBB Securities, LLC

  16835 West Bernardo Drive, Suite 203

  San Diego, CA  92127

  (858) 592-9901

  

CONFIDENTIAL

 

February 16, 2007

Cytori Therapeutics, Inc.

3020 Callan Road

San Diego, CA 92121

Attn:

Christopher
J. Calhoun, Chief Executive Officer

Mark E. Saad, Chief
Financial Officer

Gentlemen:

The
purpose of this letter (the “Agreement”) is to set forth the terms of the
engagement by Cytori Therapeutics,
Inc, a Delaware corporation (“CYTORI” or the “Company”) of WBB Securities, LLC
(“WBB”) to serve as the Company’s non-exclusive financial advisor in connection
with the engagement of Piper Jaffray Companies, a Delaware company (“PIPER”).  WBB will assist CYTORI with the subject matter in the letter agreement dated February
14, 20007 between PIPER and the CYTORI.

1)            Indemnification of WBB Securities, LLC.

The Company agrees that it will indemnify and
hold harmless WBB and its affiliates and their respective directors, officers,
agents and employees and each other person controlling WBB or any of WBB’s
affiliates (collectively, the “Indemnified Parties”), to the full extent
lawful, from and against any losses, expenses, claims or proceedings
(collectively, “losses”) (i) related to or arising out of (A) information
provided by the Company, its employees or other agents, which information
either the Company or WBB provided to any actual or potential buyers, sellers,
investors or offerees, or (B) any other action or failure to act by the
Company, its directors, officers, agents or employees or by WBB or any
Indemnified Party at the Company’s request or with the Company’s consent, or
(ii) otherwise related to or arising out of the engagement or any transaction
or conduct in connection therewith and resulting primarily from the Company’s
negligence, bad faith or willful misconduct, except that these clauses (i) and
(ii) shall not apply with respect to (x) any losses that are finally judicially
determined to have resulted primarily from the gross negligence or willful
misconduct of such Indemnified Party, or (y) any amount paid in settlement of
claims without the Company’s consent, which consent will not be unreasonably
withheld.

 

In the event that the foregoing indemnity is
unavailable to any Indemnified Party for any reason (other than as a consequence of a final judicial determination of
willful misconduct, bad faith or gross negligence of such Indemnified Party),
then the Company agrees to contribute to any losses related to or arising out
of the engagement or any transaction or conduct in connection therewith as
follows.  With respect to such losses
referred to in clause (i) of the preceding paragraph, each of the Company and
WBB shall contribute in such proportion as is appropriate to reflect the
relative benefits received (or anticipated to be received) by WBB, on the one
hand, and by the Company and its security holders, on the other hand, from the
actual or proposed transaction arising in connection with the engagement.  With respect to any other losses (other than as a consequence of a final judicial
determination of willful misconduct, bad faith or gross negligence of such
Indemnified Party), and for losses referred to in clause (i) of the
preceding paragraph if the allocation provided by the immediately preceding
sentence is unavailable for any reason, each of the Company and WBB shall
contribute in such proportion as is appropriate to reflect not only the
relative benefits as set forth above, but also the relative fault of each of
the Company and WBB in connection with the statements, omissions or other
relevant equitable considerations. 
Benefits received (or anticipated to be received) by the Company and its
security holders shall be deemed to be equal to the aggregate cash consideration
and value of securities or any other property payable, issue able, exchangeable
or transferable in such transaction or proposed transaction, and benefits
received by WBB shall be deemed to be equal to the compensation paid by the
Company to WBB (whether in cash or otherwise) in connection with the engagement
(exclusive of amounts paid for reimbursement of expenses or paid under this
agreement).  Relative fault shall be
determined by reference to, among other things, whether any alleged untrue
statement or omission or any other alleged conduct relates to information
provided by the Company or other conduct by the Company (or its employees or
other agents), on the one hand, or by WBB, on the other hand.  WBB and the Company agree that it would not
be just and equitable if contribution were determined by pro rata allocation or
by any other method of allocation that does not take account of the equitable
considerations referred to above.

Promptly
after WBB receives notice of the commencement of any action or other proceeding
in respect of which indemnification or reimbursement may be sought hereunder,
WBB will notify the Company thereof; but the omission so to notify the Company
shall not relieve the Company from any obligation hereunder unless, and only to
the extent that, such omission results in its forfeiture of substantive rights
or defenses.  If any such action or other
proceeding shall be brought against any Indemnified Party, the Company shall,
upon written notice given reasonably promptly following WBB’s notice to the
Company of such action or proceeding, be entitled to assume the defense thereof
at its expense with counsel chosen by the Company and reasonably satisfactory
to the Indemnified Parties; provided, however, that any Indemnified Party may
at its own expense retain separate counsel to participate in such

 2
 

 

defense.  Notwithstanding the foregoing, such
Indemnified Party shall have the right to employ separate counsel at the
Company’s expense and to control its own defense of such action or proceeding
if, in the reasonable opinion of counsel to such Indemnified Party, a conflict
or likely conflict exists between the Company and such Indemnified Party that
would make such separate representation advisable; provided, however, that in
no event shall the Company be required to pay fees and expenses under this
indemnity for more than one counsel in any one legal action or group of related
legal actions.  The Company agrees that
it will not, without the prior written consent of WBB, which consent shall not
be unreasonably withheld or delayed, settle or compromise or consent to the
entry of any judgment in any pending or threatened claim, action or proceeding
relating to the matters that are the subject of WBB’s engagement (whether or
not any Indemnified Party is a party thereto) unless such settlement,
compromise or consent includes an unconditional release of WBB and each other
Indemnified Party from all liability arising or that may arise out of such
claim, action or proceeding.

The Company further agrees that no
Indemnified Party shall have any liability (whether direct or indirect, in
contract or tort or otherwise) to the Company or any of its affiliates,
creditors or security holders for or in connection with the engagement or any
actual or proposed transactions or other conduct in connection therewith except
for losses incurred by the Company that are finally judicially determined to
have resulted primarily from the gross negligence or willful misconduct of such
Indemnified Party or have resulted from a breach of the engagement between the
Company and WBB.

The foregoing agreement is in addition to any
rights WBB may have at common law or otherwise and shall be binding on and
inure to the benefit of any successors, assigns, and personal representatives
of the Company and each Indemnified Party. 
This agreement is governed by the laws of the State of California,
without regard to such state’s rules concerning conflicts of laws.  Each of the parties hereto also hereby
submits to the jurisdiction of the state and federal courts located in San Diego
County, California in any proceeding arising out of or relating to this
agreement, agrees not to commence any suit, action or proceeding relating
hereto except in such courts, and waives, to the fullest extent permitted by
law, the right to move to dismiss or transfer any action brought in such court
on the basis of any objection to personal jurisdiction, venue or inconvenient
forum.  Solely for purposes of enforcing
this agreement, each party hereby consents to personal jurisdiction, service of
process and venue in any court in which any claim or proceeding that is subject
to this agreement is brought against the other party.  Any right to trial by jury with respect to
any claim or proceeding related to or arising out of the engagement, or any
transaction or conduct in connection therewith or this agreement is waived.

2)            Services Provided by WBB Securities, LLC.

(a)                                  Familiarize itself to the extent it deems
appropriate and feasible with the business, operations, properties, financial
condition, management, and strategic direction of

 3
 

 

CYTORI, as well as make any suggestions on how the Company might
enhance any of the above;

(b)                                 Evaluate the possible sale of equity related
securities in the Company, including, without limitation, evaluating potential
capital raising transactions by the Company in the form of a private placement
of common stock, convertible preferred stock, other equity securities and/or
convertible debt securities; it being agreed and understood that the
undertaking of any such possible sale of securities shall be pursuant to a
separate agreement between the Parties and CYTORI shall be under no obligation
or commitment to undertake such possible sale or placement, respectively, of
securities prior to the execution of such separate agreement; and

(c)                                  To the extent requested by the Company,
evaluate potential acquisitions, mergers, or joint ventures by the Company, or
other strategic alternatives available to the Company.

3)            Term of Engagement.

The
term of WBB’s engagement shall be for the period commencing on the date of this
Agreement and continuing for 30 days of the date of this Agreement (the “Initial
Term”), and may be extended beyond the Initial Term by mutual written consent
of the Parties.  Notwithstanding the
foregoing, either Party may terminate this Agreement at any time upon ten (10)
days written notice to the other Party, in which event neither Party will have
any further obligations hereunder, except for any unpaid amounts under Sections
4 below, which shall survive any such termination.

4)            Compensation.

For providing services hereunder, the Company
agrees to pay WBB 1.5% of the Gross proceeds raised by the company during the
Initial Term or any agreed renewal Terms on the settlement date of the
transaction covered by the terms of the Piper letter Agreement.

5)            Information.

The
Company agrees to make available to WBB all information relating to the Company
(the “Information”) as may be reasonably requested by WBB, which Information,
taken as a whole, will not contain any untrue statement of a material fact or
omit to state any material fact necessary to make the statements contained
therein, in light of the circumstances under which they were made, not
misleading. The Company agrees to advise WBB immediately of the occurrence of
any event or any other change known to the Company that results in the
Information, taken as a whole, containing an untrue statement of a material
fact or omitting to state any material fact necessary to make the statements
contained therein, in light of the circumstances under which they were made,

 4
 

 

not
misleading.  The Company acknowledges
that WBB may rely on the Information without undertaking independent
verification.  WBB hereby agrees and
covenants that all non-public Information received by WBB during the term of
this Agreement shall be held in strict confidence and not used (except for the
purpose of performing WBB’s services under this Agreement), disseminated,
released or otherwise disclosed, except as required pursuant to applicable law,
rule or regulations, without the prior written consent of the Company.

6)            General.

This Agreement represents
the entire agreement of the Parties concerning the subject matter hereof and
supersedes all prior agreements or understandings, oral or written, between the
Parties with respect to the subject matter hereof.  This Agreement may not be amended or modified
except in writing and signed by WBB and the Company, and shall be governed by
and construed in accordance with the laws of the State of California.  This Agreement is binding upon and inures to
the benefit of the parties hereto.  This
Agreement may not be assigned by either Party without the prior written consent
of the other Party, which consent shall not be unreasonably withheld.

Delivered herewith are
two identical copies of this Agreement. If the foregoing is in accordance with
your understanding of the terms of our engagement, please confirm your
agreement by signing both enclosed copies of this Agreement and returning to
WBB one executed copy of this Agreement. 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  WBB Securities,
  LLC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ La Rae
  Bakerink

  	
   

  
	
   

  	
   

  	
    LaRae
  Bakerink, CEO

  	
   

  
	
   

  	
   

  
	
  AGREED TO AND
  ACCEPTED

  	
   

  
	
  as of the date
  first set forth above:

  	
   

  
	
   

  	
   

  
	
  Cytori
  Therapeutics, Inc.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/Mark E. Saad

  	
   

  	
   

  
	
  Title: CFO

  	
   

  
						

 

 5Exhibit
10.3

SUBSCRIPTION
AGREEMENT

Cytori Therapeutics, Inc.

3020 Callan Road

San Diego, California
92121

Ladies and Gentlemen:

The undersigned (the “Investor”) hereby confirms and agrees with
you as follows:

1.             This Subscription Agreement (this “Agreement”) is made as of the date set
forth below between Cytori Therapeutics, Inc., a Delaware corporation (the “Company”), and the Investor.

2.             The Company has authorized the sale
and issuance of (i) up to 3,745,645 shares (the “Shares”) of the Company’s common stock, $0.001 par value per
share (the “Common Stock”), and
(ii) warrants to purchase up to 1,872,823 shares of Common Stock (the “Warrants” and together with the Shares,
the “Securities”) for a purchase
price of $5.74 per unit, with each unit consisting of one Share and 0.5
Warrants (the “Offering”). The
Offering and issuance of the Securities have been registered under the
Securities Act of 1933, as amended (the “Securities
Act”), pursuant to the Company’s Registration Statement on
Form S-3 (No. 333-134129), including all amendments thereto, the
exhibits and any schedules thereto, the documents otherwise deemed to be a part
thereof or included therein by the rules and regulations of the Commission (the
“Rules and Regulations”) and any
registration statement relating to the Offering and filed pursuant to Rule
462(b) under the Rules and Regulations (collectively, the “Registration Statement”).  The Investor acknowledges that the Company
intends to enter into subscription agreements in substantially the same form as
this Agreement with certain other investors.

3.             As of the Closing (as defined below)
and subject to the terms and conditions hereof, 
the Company and the Investor agree that the Investor will purchase from
the Company and the Company will issue and sell to the Investor such number of
Shares and Warrants as is set forth on the signature page hereto (the “Signature Page”).  The Investor acknowledges that the Offering
is not a firm commitment underwriting and that there is no minimum offering
amount.  Certificates representing the
Shares purchased by the Investor will not be issued to the Investor; instead,
such Shares will be credited to the Investor using customary procedures for
book-entry transfer through the facilities of The Depository Trust Company (“DTC”). 
The Warrants will be issued by the Company, and delivered to the
Investor, in physical form.  This
Offering will not clear directly through the Placement Agent (as defined below)
acting in such capacity. Consequently, the Investor must instruct their
individual broker how to settle the transaction.

4.             The completion of
the purchase and sale of the Securities shall occur at a closing (the “Closing”) which, in accordance with Rule
15c6-1 promulgated under the Securities Exchange Act of 1934, as amended, is
expected to occur on or about February 28, 2007.  At the Closing, (a) the Company shall cause
its transfer agent to release to the Investor the number of Shares being
purchased by the Investor, (b) the Company shall deliver to the Investor the Warrants
being purchased by the Investor and (c) the aggregate purchase price for the
Securities being purchased by the Investor will be delivered by or on behalf of
the Investor to the Company.  If the
Investor chooses to settle via Deposit/Withdrawal At Custodian (“DWAC”) (by checking the appropriate space
on the Signature Page hereto), the provisions set forth in Exhibit A
hereto shall be incorporated herein by reference as if set forth fully herein.

5.             The Company has filed with the
Securities and Exchange Commission (the “Commission”)
a prospectus (the “Base Prospectus”)
and will promptly file a final prospectus supplement (collectively with the
Base Prospectus, the “Prospectus”)
with respect to the Registration Statement in conformity with the Securities
Act, 

 

 

including Rule 424(b) thereunder.  The Investor hereby consents to the receipt
of the Company’s Prospectus in portable document format, or .pdf, via e-mail.

6.             The Company has entered into a
Placement Agency Agreement (the “Placement
Agreement”), dated February 23, 2007 with Piper Jaffray & Co.
(the “Placement Agent”), which
will act as the Company’s placement agent with respect to the Offering and
receive a fee in connection with the sale of the Securities.  The Placement Agreement contains certain
representations and warranties of the Company. 
The Company acknowledges and agrees that the Investor may rely on the
representations and warranties made by it to the Placement Agent in Section 2
of the Placement Agreement to the same extent as if such representations and
warranties had been incorporated in full herein and made directly to the
Investor, which shall be a third party beneficiary thereof.  Capitalized terms used, but not otherwise
defined, herein shall have the meanings ascribed to such terms in the Placement
Agreement.

7.             The obligations of the Company and the
Investor to complete the transactions contemplated by this Agreement shall be
subject to the following:

(a)           The Company’s
obligation to issue and sell the Securities to the Investor shall be subject
to: (i) the receipt by the Company of the purchase price for the Shares and
Warrants being purchased hereunder as set forth on the Signature Page and (ii)
the accuracy of the representations and warranties made by the Investor and the
fulfillment of those undertakings of the Investor to be fulfilled prior to the
Closing Date.

(b)           The Investor’s
obligation to purchase the Securities will be subject to the condition that the
Placement Agent shall not have: (i) terminated the Placement Agreement pursuant
to the terms thereof or (ii) determined that the conditions to closing in the
Placement Agreement have not been satisfied.

8.             The Company hereby makes the following
representations, warranties and covenants to the Investor:

(a)           The Company has the
requisite corporate power and authority to enter into and to consummate the
transactions contemplated by this Agreement and otherwise to carry out its
obligations hereunder.  The execution and
delivery of this Agreement by the Company and the consummation by it of the
transactions contemplated hereunder have been duly authorized by all necessary
action on the part of the Company.  This
Agreement has been duly executed by the Company and, when delivered in accordance
with the terms hereof, will constitute the valid and binding obligation of the
Company enforceable against the Company in accordance with its terms, except as
may be limited by any bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance or other similar laws affecting the enforcement of
creditors’ rights generally or by general principles of equity.

(b)           The Company shall
(i) before the opening of trading on The Nasdaq Global Market on the next
trading day after the date hereof, issue a press release, disclosing all
material aspects of the transactions contemplated hereby and (ii) make such
other filings and notices in the manner and time required by the Commission
with respect to the transactions contemplated hereby.  Upon the issuance of the press release
described in the immediately preceding sentence, the Investor will not be in
receipt of any material, non-public information provided to it by the Company,
its officers or directors.  The Company
shall not identify the Investor by name in any press release or public filing, or
otherwise publicly disclose the Investor’s name, without the Investor’s prior
written consent, unless required by law or the rules and regulations of any
self-regulatory organization or exchange to which the Company or its securities
are subject.

9.             The Investor hereby makes the
following representations, warranties and covenants to the Company:

(a)           The Investor
represents that (i) it has received or had full access to the Base Prospectus
as well as the Company’s periodic reports and other information incorporated by
reference therein, prior to or in connection with its receipt of this
Agreement, (ii) it is knowledgeable, sophisticated and experienced in making,
and is qualified to make, decisions with respect to investments in securities
representing an investment decision 

 

like that involved in the purchase of the Securities,
and (iii) it does not have any agreement or understanding, directly or
indirectly, with any person or entity to distribute any of the Securities.

(b)           The Investor has
the requisite power and authority to enter into this Agreement and to
consummate the transactions contemplated hereby.   The execution and delivery of this Agreement
by the Investor and the consummation by it of the transactions contemplated
hereunder have been duly authorized by all necessary action on the part of the
Investor.  This Agreement has been
executed by the Investor and, when delivered in accordance with the terms
hereof, will constitute a valid and binding obligation of the Investor
enforceable against the Investor in accordance with its terms, except as
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors’ and contracting
parties’ rights generally and except as enforceability may be subject to
general principles of equity (regardless of whether such enforceability is
considered in a proceeding in equity or at law).

(c)           The Investor
understands that nothing in this Agreement or any other materials presented to
the Investor in connection with the purchase and sale of the Securities
constitutes legal, tax or investment advice. 
The Investor has consulted such legal, tax and investment advisors as
it, in its sole discretion, has deemed necessary or appropriate in connection
with its purchase of Securities.

(d)           The making,
execution and performance of this Agreement by the Investor and the
consummation of the transactions contemplated herein will not conflict with or
result in a breach or violation of any of the terms and provisions of, or
constitute a default under, (i) the charter, bylaws or other organizational
documents of such Investor, as applicable, or (ii) any law, order, rule,
regulation, writ, injunction, judgment or decree of any court, administrative
agency, regulatory body, government or governmental agency or body, domestic or
foreign, having jurisdiction over such Investor or its properties, except for
any conflict, breach, violation or default which is not reasonably likely to
have a material adverse effect on such Investor’s performance of its
obligations hereunder or the consummation of the transactions contemplated
hereby.

(e)           The Investor will
maintain the confidentiality of all information acquired as a result of the
transactions contemplated herein prior to the public disclosure of that
information by the Company.

(f)            Neither the
Investor nor any Person acting on behalf of, or pursuant to any understanding
with or based upon any information received from, the Investor has, directly or
indirectly, engaged in any transactions in the securities of the Company
(including, without limitation, any Short Sales involving the Company’s
securities) since the earlier to occur of (i) the time that the Investor was
first contacted by the Placement Agent or the Company with respect to the
transactions contemplated hereby and (ii) the date that is the tenth (10th) trading day prior to the
date of this Agreement.  “Short Sales”
include, without limitation, all “short sales” as defined in Rule 200
promulgated under Regulation SHO under the Securities Exchange Act of 1934, as
amended (the “Exchange Act”),
whether or not against the box, and all types of direct and indirect stock
pledges, forward  sale contracts,
options, puts, calls, short sales, swaps, “put equivalent positions” (as defined
in Rule 16a-1(h) under the Exchange Act) and similar arrangements (including on
a total return basis), and sales and other transactions through non-U.S. broker
dealers or foreign regulated brokers. 
The Investor covenants that neither it, nor any Person acting on behalf
of, or pursuant to any understanding with or based upon any information
received from, the Investor will engage in any transactions in the securities
of the Company (including Short Sales) prior to the time that the transactions
contemplated by this Agreement are publicly disclosed.

(g)           The Investor
represents that, except as set forth below, (i) it has had no position, office
or other material relationship within the past three years with the Company or
persons known to it to be affiliates of the Company, (ii) it is not a, and it
has no direct or indirect affiliation or association with any, NASD member or
an Associated Person (as such term is defined under the NASD Membership and
Registration Rules Section 1011) as of the date hereof, and (iii) neither it
nor any group of investors (as identified in a public filing made with the
Commission) of which it is a member, acquired, or obtained the right to
acquire, 20% or more of the Common 

 

 

Stock (or securities convertible or exercisable for Common
Stock) or the voting power of the Company on a post-transaction basis.    Exceptions:

	
  (If no exceptions, write
  “none.” If left blank, response will be deemed to be “none.”)

  

 

10.          Notwithstanding any investigation made by
any party to this Agreement, all covenants, agreements, representations and
warranties made by the Company and the Investor herein will survive the
execution of this Agreement, the delivery to the Investor of the Securities
being purchased and the payment therefor.

11.            This Agreement may not be modified or
amended except pursuant to an instrument in writing signed by the Company and
the Investor.

12.          The headings of the various sections of
this Agreement have been inserted for convenience of reference only and shall
not be deemed to be part of this Agreement.

13.            In case any provision contained in this
Agreement should be invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein will not in any way be affected or impaired thereby.

14.          This Agreement will be governed by, and
construed in accordance with, the internal laws of the State of New York,
without giving effect to the principles of conflicts of law that would require
the application of the laws of any other jurisdiction.

15.          This Agreement may be executed in
counterparts, each of which will constitute an original, but all of which, when
taken together, will constitute but one instrument, and will become effective
when counterparts have been signed by each party hereto and delivered to the
other party.

16.          The Investor
acknowledges and agrees that such Investor’s receipt of the Company’s
counterpart to this Agreement shall constitute written confirmation of the
Company’s sale of Securities to such Investor.

17.          In the event that before the Closing the
Placement Agreement is terminated by the Placement Agent pursuant to the terms
thereof, this Agreement shall terminate without any further action on the part
of the parties hereto.

 

 

INVESTOR SIGNATURE PAGE

	
  Number of Shares:

  	
   

  	
   

  
	
  Number of Warrants:

  	
   

  	
   

  
	
  (such number to be equal to 50% of the number of
  Shares being purchased by the Investor)

  
	
  Purchase Price Per Unit:

  	
  $5.74

  	
   

  
	
  Aggregate Purchase Price:

  	
  $

  	
   

  
	
   

  	
   

  
	
  Please confirm that the foregoing correctly sets
  forth the agreement between us by signing in the space provided below for
  that purpose.

  
	
   

  
	
  Dated as of:
  February 23, 2007

  
	
   

  
	
   

  	
   

  
	
  INVESTOR

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Print Name:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
	
  Name in which Securities are to be registered:

  	
   

  	
   

  
	
  Mailing Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Taxpayer Identification Number:

  	
   

  	
   

  
	
  Manner of Settlement of the Shares (check one):

  
	
   

  	
   

  	
  DVP (see Exhibit B for explanation and
  instructions)

  
	
   

  	
   

  	
  DWAC (see Exhibit A for explanation and
  instructions)

  
	
   

  
	
   

  
	
  Agreed and Accepted this        day of
  February, 2007:

  
	
   

  
	
  CYTORI THERAPEUTICS, INC.

  
	
   

  
	
  By:

  	
   

  	
   

  
	
  Title:

  	
   

  	
   

  
																	

 

Sales of the Securities purchased
hereunder were made pursuant to a registration statement or in a transaction in
which a final prospectus would have been required to have been delivered in the
absence of Rule 172 promulgated under the Securities Act.

 

 

EXHIBIT A

TO BE COMPLETED BY INVESTOR

SETTLING VIA DWAC

Delivery by electronic
book-entry at The Depository Trust Company (“DTC”),
registered in the Investor’s name and address as set forth on the Signature
Page of the Agreement to which this Exhibit A is attached, and released
by Computershare Investor Services, the Company’s transfer agent (the “Transfer Agent”), to the Investor at the
Closing.

	
  Name of DTC Participant (broker-dealer atwhich
  the account or accounts to be credited with the Shares are maintained)

  	
   

  
	
  DTC Participant Number

  	
   

  
	
  Name of Account at DTC
  Participant being credited with the Shares

  	
   

  
	
  Account Number at DTC
  Participant being credited with the Shares

  	
   

  

 

NO
LATER THAN ONE (1) BUSINESS DAY AFTER THE EXECUTION OF THE AGREEMENT TO WHICH
THIS EXHIBIT A IS ATTACHED BY THE INVESTOR AND THE COMPANY, THE INVESTOR
SHALL:

(I)            DIRECT THE
BROKER-DEALER AT WHICH THE ACCOUNT OR ACCOUNTS TO BE CREDITED WITH THE SHARES
ARE MAINTAINED TO SET UP A DEPOSIT/WITHDRAWAL AT CUSTODIAN (“DWAC”) INSTRUCTING THE TRANSFER AGENT TO
CREDIT SUCH ACCOUNT OR ACCOUNTS WITH THE SHARES, AND

(II)        REMIT BY WIRE TRANSFER THE
AMOUNT OF FUNDS EQUAL TO THE AGGREGATE PURCHASE PRICE FOR THE SECURITIES BEING
PURCHASED BY THE INVESTOR TO THE FOLLOWING ACCOUNT:

XXXX

XXXX

Such funds shall
be held in escrow pursuant to an escrow agreement entered into between JPMorgan
Chase Bank, NA (the “Escrow Agent”),
the Placement Agent and the Company (the “Escrow
Agreement”) until the Closing and delivered by the Escrow Agent on
behalf of the Investor to the Company upon the satisfaction, in the sole
judgment of the Placement Agent, of the conditions set forth in Section 7(b) of
the Agreement to which this Exhibit A is attached.

 

 

EXHIBIT B

TO BE COMPLETED BY INVESTOR

SETTLING VIA DVP

Delivery versus payment (“DVP”) through DTC (i.e., the Company shall deliver Shares
registered in the Investor’s name and address as set forth on the Signature
Page of the Agreement to which this Exhibit B is attached and released
by the Transfer Agent to the Investor at the Closing directly to the account(s)
at the Placement Agent identified by the Investor and simultaneously therewith
payment shall be made from such account(s) to the Company through DTC).  NO LATER
THAN ONE (1) BUSINESS DAY AFTER THE EXECUTION OF THE AGREEMENT TO WHICH THIS EXHIBIT
B IS ATTACHED BY THE INVESTOR AND THE COMPANY, THE INVESTOR SHALL:

(I)            NOTIFY THE PLACEMENT
AGENT OF THE ACCOUNT OR ACCOUNTS AT THE PLACEMENT AGENT TO BE CREDITED WITH THE
SHARES BEING PURCHASED BY SUCH INVESTOR, AND

(II)        CONFIRM THAT THE ACCOUNT
OR ACCOUNTS AT THE PLACEMENT AGENT TO BE CREDITED WITH THE SHARES BEING
PURCHASED BY THE INVESTOR HAVE A MINIMUM BALANCE EQUAL TO THE AGGREGATE
PURCHASE PRICE FOR THE SECURITIES BEING PURCHASED BY THE INVESTOR.

If the Shares are to be
further credited to an account held elsewhere than at the Placement Agent,
please complete the information requested below in order to facilitate such
further credit:

	
  Name of DTC Participant (broker-dealer atwhich
  the account or accounts to be credited with the Shares are maintained)

  	
   

  
	
  DTC Participant Number

  	
   

  
	
  Name of Account at DTC
  Participant being credited with the Shares

  	
   

  
	
  Account Number at DTC
  Participant being credited with the Shares

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