Document:

Exhibit 10.1

 

SALE OF GOVERNMENT PROPERTY

AMENDMENT OF INVITATION FOR BIDS/MODIFICATION OF CONTRACT

 

	
1.   AMENDMENT TO INVITATlON FOR BIDS NO.:
    	
 
    	
 
    	
 
    	
2.   EFFECTIVE DATE
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
SUPPLEMENTAL   AGREEMENT NO.:  8
    	
 
    	
 
    	
 
    	
01/17/2014
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
3.   ISSUED BY
   DLA Disposition Services
   National Sales Office
   74 North Washington Street
   Battle Creek, MI 49017-3092
    	
 
    	
 
    	
 
    	
4.   NAME AND ADDRESS WHERE BIDS ARE RECEIVED
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
5.   o AMENDMENT OF   INVITATION FOR BIDS NO. (See Item 6)
    	
 
    	
DATED
    	
 
    	
x MODIFICATION   OF CONTRACT NO. (See Item 8)
    	
 
    	
DATED
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
07/31/2008
    
	
6.
    	
THIS BLOCK APPLIES ONLY TO AMENDMENTS OF   INVITATlONS FOR BIDS
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
The   above numbered invitation for bids is amended as set forth in Item 9. Bidders   must acknowledge receipt of this amendment unless indicated otherwise in item   11 prior to the hour and date specified in the invitation for bids, or as   amended, by one of the following methods: 
    
	
 
    	
(a) By   signing and   returning                   copies   of this amendment; 
   (b) By acknowledging receipt of this amendment on each copy of the bid   submitted; or 
   (c) By separate letter or telegram which includes a reference to the   invitation for bids and amendment number.
    
	
 
    	
FAILURE   OF YOUR ACKNOWLEDGMENT TO BE RECEIVED AT THE ISSUING OFFICE PRIOR TO THE HOUR   AND DATE SPECIFIED MAY RESULT IN REJECTION OF YOUR BID. If by virtue of   this amendment you desire to change a bid already submitted, such change may   be made by telegram or letter, provided such telegram or letter makes   reference to the invitation for bids and this amendment, and is received   prior to the opening hour and date specified. 
    
	
 
    	
 
    
	
7.
    	
ACCOUNTING AND APPROPRIATION DATA (If   required)
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
8.
    	
THIS   APPLIES ONLY TO MODIFICATION OF CONTRACTS
   This Supplemental Agreement is entered into pursuant to authority of
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Mutual Agreement for Contract 08-0001-0001
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
9.   DESCRIPTION OF AMENDMENT/MODIFICATION (Except   as provided below all terms and   conditions of the document referenced in Item 5 remain in full force end   effect)
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
Whereas   Contract 08-0001-0001 was entered into on July 31, 2008 by and between   the United States of America, hereinafter referred to as the GOVERNMENT, and   Liquidity Services, Incorporated, hereinafter referred to as the   CONTRACTOR, and whereas the contract involved property as described in   Invitation For Bid (IFB) 08-0001:
    
								

 

	
THE   HOUR AND DATE FOR RECEIPT OF BIDS
    	
 
    	
o IS NOT   EXTENDED,
    	
o IS EXTENDED   UNTIL
    	
O’CLOCK
    	
M
    
	
(LOCAL   TIME)
    	
DATE
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
10. BIDDER/PURCHASE NAME AND ADDRESS (Include ZIP Code)
    	
11.  
    	
o
    	
BIDDER   IS NOT REQUIRED TO SIGN THIS DOCUMENT 
    
	
Liquidity   Services, Incorporated
   1920 L Street, NW, 6th Floor
   Washington, DC 20036
    	
 
    	
 
    	
 
    	
 
    	
 
    	
x
    	
PURCHASER   IS REQUIRED TO SIGN THIS DOCUMENT AND RETURN ORIGINAL AND 0 COPIES TO THE   ISSUING OFFICE 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
12.   SIGNATURE FOR BIDDER/PURCHASER
    	
 
    	
 
    	
 
    	
 
    	
15.   UNITED STATES OF AMERICA 
    
	
 
    	
 
    	
 
    	
 
    
	
BY
    	
/s/   Bruce Gearey
    	
 
    	
BY
    	
/s/   Rebecca Bellinger
    
	
 
    	
(signature of person authorized to sign)
    	
 
    	
 
    	
(Signature of Contracting Officer)
    
	
 
    	
 
    	
 
    	
 
    
	
13.   NAME AND TITLE OF SIGNER (Type or print)
    	
14.   DATE SIGNED
    	
16.   NAME OF CONTRACTING OFFICER (Type or print)
    	
17. DATE SIGNED
    
	
BRUCE   GEAREY
   Executive Vice President
    	
01/17/2014
    	
REBECCA   BELLINGER
    	
01/17/2014
    
	
 
    	
 
    	
 
    	
 
    
	
AUTHORIZED   FOR LOCAL REPRODUCTION
 Previous edition is usable
    	
STANDARD FORM 114D   (REV. 1-94)
   Prescribed by GSA FPMR (41 CFR) 101-45.3,
    
																								

 

1

 

CONTRACT NUMBER 08-0001-0001

Supplemental Agreement 8

 

WHEREAS, certain DLA Disposition Services assets that have been determined no longer needed by the Government may result in a sales transaction that is conducted by the DLA Disposition Services Sales Office; and

 

WHEREAS, the Government’s requirements include inventory screening, inventory controls, resale purchaser screening, inventory removal, and other requirements that the sales contractor must perform as a condition of the sale of these assets; and

 

WHEREAS, the Government is currently restructuring a new solicitation to best address the needs of the Government as it relates to the sale of Assets.

 

WHEREAS, ARTICLE FOUR:  Contract Performance, Section 5, Cessation of Property Referrals states:   There shall be no further referrals of property by DRMS to Contractor from the wind-down commencement date forward.  Submission of monthly, quarterly and annual reports shall continue as before the wind-down commencement date until the wind-down is completed.

 

NOW THEREFORE, it is in the best interest of the Government and mutually agreed between the Government and the Contractor that the following changes are in effect:

 

Contract 08-0001-0001, Article Four, Section 5, Cessation of Property Referral is changed to read: Except for such property that was in the Contractor’s possession prior to the commencement of the wind-down period, but was not yet referred to Contractor on a Delivery Order prior to the commencement date of the wind-down, there shall be no further referrals of property under Sales Contract No. 08-0001-0001 by DLA Disposition Services to Contractor from the wind-down commencement date forward.   The wind-down period shall extend simultaneously with the period of the follow-on sole source contract, Sales Contract No. 08-0002-0001, (“Follow-on Contract”), subject to all early termination provisions.  The Follow-on Contract is scheduled with the Contractor for a ten month period, to include two one-month additional options, which may be exercised at the sole discretion of DLA Disposition Services.  Wind-down period is not to exceed nine months. Submission of monthly, quarterly and annual reports shall continue as before the wind-down commencement date until the wind-down is completed.

 

/////////////////////////////////////NOTHING  FOLLOWS///////////////////////////////////////

 

2Exhibit 10.2

 

CONTRACT NUMBER 08-0001-0002

 

Attachment to NOTICE OF AWARD, STATEMENT, AND RELEASE DOCUMENT

 

Description of the property is as identified in IFB 08-0002.  This contract includes final IFB 08-0002, Supplemental Agreements 1 - 8, and the entire technical proposal submitted in support of RFTP 08-0001.  All Terms and Conditions of contract 08-0001-0001 awarded on July 31, 2008 (to include supplemental agreements 1 through 8) remain the same except for the deletion of the following:

 

ARTICLE FOUR, Section 1, Performance Period

 

ARTICLE FOUR, Section 2, Phase-In Period

 

ARTICLE SIX, Section 1, Product Pool, “The government guarantees to issue the Contractor the lesser of 124,000 line items of property annually or issue to the Contractor property with an annual acquisition value of $570,000,000 under this contract.”

 

Performance period for this contract is 10 months from the contract performance date.  Two one-month additional options may be offered by the Government.   Contract performance begins on February 14, 2014.

 

Bid percentages are as follows:

 

	
Sales   Item Number:
    	
 
    	
1
    
	
Bid   Percentage (Up-Front Property Payment):
    	
 
    	
0.8000%   of the acquisition value
    
	
Back-End   Property Payment (120 days of issue):
    	
 
    	
1.0%   of the acquisition value
    
	
Total   Purchase Price Percentage:
    	
 
    	
1.8%   of acquisition value
    
	
 
    	
 
    	
 
    
	
Bid   Deposit Paid:
    	
 
    	
$  100,000.00
    
	
Payment   Deposit
    	
 
    	
$  500,000.00
    
	
Financial   Guarantee Bond
    	
 
    	
$4,500,000.00
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
SCO
    	
 
    	
DATE
    

 

1Series 1 Warrant Certificate No.
___

 

NEITHER THE SECURITIES REPRESENTED BY THIS
CERTIFICATE NOR THE SECURITIES ISSUABLE UPON THE EXERCISE OF THIS WARRANT HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED,
SOLD, ASSIGNED OR OTHERWISE TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND
ANY APPLICABLE STATE SECURITIES LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF
COUNSEL TO THE HOLDER OF SUCH SECURITIES, WHICH COUNSEL AND OPINION ARE SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE
OFFERED, SOLD, PLEDGED, ASSIGNED OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
ACT OR APPLICABLE STATE SECURITIES LAWS.

 

	Effective Date: July 30, 2013	Void After: July 30, 2018

 

MATINAS BIOPHARMA HOLDINGS, INC.

 

SERIES 1 WARRANT TO PURCHASE COMMON STOCK

 

Matinas BioPharma
Holdings, Inc., a Delaware corporation (the “Company”), for value received on [   ], 2013 (the “Effective
Date”), hereby issues to [   ] (the “Holder” or “Warrant Holder”) this Series
1 Warrant (the “Warrant”) to purchase, [   ] shares (each such share as from time to time adjusted as hereinafter
provided being a “Warrant Share” and all such shares being the “Warrant Shares”) of the Company’s
Common Stock (as defined below), at the Exercise Price (as defined below), as adjusted from time to time as provided herein, on
or before [  ], 2018 (the “Expiration Date”), all subject to the following terms and conditions. This Warrant
is one of a series of warrants of like tenor that have been issued in connection with the Company’s private offering solely
to accredited investors of units in accordance with, and subject to, the terms and conditions described in the Subscription Agreement,
attached to the Confidential Private Placement Memorandum of the Company dated July 11, 2013, as the same may be amended and supplemented
from time to time (the “Subscription Agreement” and the “Private Placement Memorandum” respectively).
In addition, the Company has issued other warrants of like tenor in connection with the transactions described in the Private Placement
Memorandum (the “Other Warrants”).

 

    	1

    	 

    

 

As used in this Warrant,
(i) “Business Day” means any day other than Saturday, Sunday or any other day on which commercial banks in the
City of New York, New York, are authorized or required by law or executive order to close; (ii) “Common Stock”
means the common stock of the Company, par value $0.0001 per share, including any securities issued or issuable with respect thereto
or into which or for which such shares may be exchanged for, or converted into, pursuant to any stock dividend, stock split, stock
combination, recapitalization, reclassification, reorganization or other similar event; (iii) “Exercise Price”
means $2.00 per share of Common Stock, subject to adjustment as provided herein; (iv) “Trading
Day” means any day on which the Common Stock is traded (or available for trading) on its principal trading market;
(v) “Affiliate” means any person that, directly or indirectly, through one or more intermediaries, controls,
is controlled by, or is under common control with, a person, as such terms are used and construed in Rule 144 promulgated under
the Securities Act of 1933, as amended (the “Securities Act”) and (vi) “Warrantholders” means
the holders of Warrants issued pursuant to the Subscription Agreement and Private Placement Memorandum. 

 

		1.	DURATION AND EXERCISE OF WARRANTS

 

(a)Exercise
Period. The Holder may exercise this Warrant in whole or in part on any Business Day on or before 5:00 P.M., Eastern Time,
on the Expiration Date, at which time this Warrant shall become void and of no value.

 

		(b)	Exercise Procedures.

 

(i)While this Warrant
remains outstanding and exercisable in accordance with Section 1(a), in addition to the manner set forth in Section 1(b)(ii) below,
the Holder may exercise this Warrant in whole or in part at any time and from time to time by:

 

(A)delivery to
the Company of a duly executed copy of the Notice of Exercise attached as Exhibit A;

 

(B)surrender of
this Warrant to the Secretary of the Company at its principal offices or at such other office or agency as the Company may specify
in writing to the Holder; and

 

(C)payment of the
then-applicable Exercise Price per share multiplied by the number of Warrant Shares being purchased upon exercise of the Warrant
(such amount, the “Aggregate Exercise Price”) made in the form of cash, or by certified check, bank draft or
money order payable in lawful money of the United States of America or in the form of a Cashless Exercise to the extent permitted
in Section 1(b)(ii) below.

 

(ii)In addition to
the provisions of Section 1(b)(i) above, if any time commencing 300 days after the Effective Date, a registration statement covering
the resale of the Warrant Shares by the Holder is not effective with the Securities and Exchange Commission (the “SEC”),
the Holder may, in its sole discretion, exercise all or any part of the Warrant in a “cashless” or “net-issue”
exercise (a “Cashless Exercise”) by delivering to the Company (1) the Notice of Exercise and (2) the original
Warrant, pursuant to which the Holder shall surrender the right to receive upon exercise of this Warrant, a number of Warrant Shares
having a value (as determined below) equal to the Aggregate Exercise Price, in which case, the number of Warrant Shares to be issued
to the Holder upon such exercise shall be calculated using the following formula:

 

    	2

    	 

    

 

	 	 	X = Y * (A - B)
	 	 	A
	 	 	 
	with:	X =	the number of Warrant Shares to be issued to the Holder
	 	 	 
	 	Y =	the number of Warrant Shares with respect to which the Warrant is being exercised
	 	 	 
	 	A =	the fair value per share of Common Stock on the date of exercise of this Warrant
	 	 	 
	 	B =	the then-current Exercise Price of the Warrant

 

Solely for the purposes
of this paragraph, “fair value” per share of Common Stock shall mean the average Closing Price (as defined below)
per share of Common Stock for the twenty (20) trading days immediately preceding the date on which the Notice of Exercise is deemed
to have been sent to the Company. “Closing Price” means, for any date, the price determined by the first of
the following clauses that applies:  (a) if the Common Stock is then listed or quoted on the New York Stock Exchange,
the NYSE MKT, the NASDAQ Global Select Market, the NASDAQ Global Market or the NASDAQ Capital Market or any other national securities
exchange, the closing price per share of the Common Stock for such date (or the nearest preceding date) on the primary eligible
market or exchange on which the Common Stock is then listed or quoted; (b) if prices for the Common Stock are then quoted on the
OTC Bulletin Board or any tier of the OTC Markets, the closing bid price per share of the Common Stock for such date (or the nearest
preceding date) so quoted; or (c) if prices for the Common Stock are then reported in the “Pink Sheets” published by
the National Quotation Bureau Incorporated (or a similar organization or agency succeeding to its functions of reporting prices),
the most recent closing bid price per share of the Common Stock so reported. If the Common Stock is not publicly traded as set
forth above, the “fair value” per share of Common Stock shall be reasonably and in good faith determined by the Board
of Directors of the Company as of the date which the Notice of Exercise is deemed to have been sent to the Company.

 

Notwithstanding the
foregoing, provided that a registration statement covering the resale of the Warrant Shares by the Holder has (x) been declared
effective by the SEC and (y) remained effective for a period of one year, any Cashless Exercise right hereunder shall thereupon
terminate.

 

For purposes of Rule
144 promulgated under the Securities Act, it is intended, understood and acknowledged that the Warrant Shares issued in a cashless
exercise transaction shall be deemed to have been acquired by the Holder, and the holding period for such shares shall be deemed
to have commenced, on the date this Warrant was originally issued.

 

    	3

    	 

    

 

(iii) Upon the exercise
of this Warrant in compliance with the provisions of this Section 1(b), and except as limited pursuant to the last paragraph of
Section 1(b)(ii), the Company shall promptly issue and cause to be delivered to the Holder a certificate for the Warrant Shares
purchased by the Holder. Each exercise of this Warrant shall be effective immediately prior to the close of business on the date
(the “Date of Exercise”) that the conditions set forth in Section 1(b) have been satisfied, as the case may
be. On the first Business Day following the date on which the Company has received each of the Notice of Exercise and the Aggregate
Exercise Price (or notice of a Cashless Exercise in accordance with Section 1(b)(ii)) (the “Exercise Delivery Documents”),
the Company shall transmit an acknowledgment of receipt of the Exercise Delivery Documents to the Company’s transfer agent
(the “Transfer Agent”). On or before the third Business Day following the date on which the Company has received
all of the Exercise Delivery Documents (the “Share Delivery Date”), the Company shall (X) provided that the
Transfer Agent is participating in The Depository Trust Company (“DTC”) Fast Automated Securities Transfer Program,
upon the request of the Holder, credit such aggregate number of shares of Common Stock to which the Holder is entitled pursuant
to such exercise to the Holder’s or its designee’s balance account with DTC through its Deposit Withdrawal Agent Commission
system, or (Y) if the Transfer Agent is not participating in the DTC Fast Automated Securities Transfer Program, issue and dispatch
by overnight courier to the address as specified in the Notice of Exercise, a certificate, registered in the Company’s share
register in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder is entitled pursuant
to such exercise. Upon delivery of the Exercise Delivery Documents, the Holder shall be deemed for all corporate purposes to have
become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective of the date
of delivery of the certificates evidencing such Warrant Shares.

 

(iv) If the Company
shall fail for any reason or for no reason to issue to the Holder, within three (3) Business Days of receipt of the Exercise Delivery
Documents, a certificate for the number of shares of Common Stock to which the Holder is entitled and register such shares of Common
Stock on the Company’s share register or to credit the Holder’s balance account with DTC for such number of shares
of Common Stock to which the Holder is entitled upon the Holder’s exercise of this Warrant, and if on or after such Business
Day the Holder purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction of a sale
by the Holder of shares of Common Stock issuable upon such exercise that the Holder anticipated receiving from the Company (a “Buy-In”),
then the Company shall, (A) pay in cash to the Holder the amount, if any, by which (x) the Holder’s total purchase price
(including brokerage commissions, if any) for the shares of Common Stock so purchased (the “Buy-In Amount”)
plus the amount paid by the Holder to the Company as the exercise price for the Warrant Shares 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, and paid the Company $5,000
as the exercise price, the Holder’s cash outlay would be a total of $16,000; and if the aggregate sales price of the shares
giving rise to such Buy-In obligation was $10,000, under clause (A) of the immediately preceding sentence the Company shall be
required to pay the Holder $6,000. 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.

 

    	4

    	 

    

 

(c) Partial Exercise.
This Warrant shall be exercisable, either in its entirety or, from time to time, for part only of the number of Warrant Shares
referenced by this Warrant. If this Warrant is submitted in connection with any exercise pursuant to Section 1 and the number of
Warrant Shares represented by this Warrant submitted for exercise is greater than the actual number of Warrant Shares being acquired
upon such an exercise, then the Company shall as soon as practicable and in no event later than five (5) Business Days after
any exercise and at its own expense, issue a new Warrant of like tenor representing the right to purchase the number of Warrant
Shares purchasable immediately prior to such exercise under this Warrant, less the number of Warrant Shares with respect to which
this Warrant is exercised.

 

(d)Disputes.
In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the
Company shall promptly issue to the Holder the number of Warrant Shares that are not disputed and resolve such dispute in accordance
with Section 16.

 

		2.	ISSUANCE OF WARRANT SHARES

 

(a)The Company
covenants that all Warrant Shares will, upon issuance in accordance with the terms of this Warrant, be (i) duly authorized, fully
paid and non-assessable, and (ii) free from all liens, charges and security interests, with the exception of claims arising through
the acts or omissions of any Holder and except as arising from applicable Federal and state securities laws.

 

(b)The Company
shall register this Warrant upon records to be maintained by the Company for that purpose in the name of the record holder of such
Warrant from time to time. The Company may deem and treat the registered Holder of this Warrant as the absolute owner thereof for
the purpose of any exercise thereof, any distribution to the Holder thereof and for all other purposes.

 

(c)The Company
will not, by amendment of its certificate of incorporation, by-laws 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 to be observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying
out of all the provisions of this Warrant and in the taking of all action necessary or appropriate in order to protect the rights
of the Holder to exercise this Warrant, or against impairment of such rights.

 

    	5

    	 

    

 

		3.	ADJUSTMENTS OF EXERCISE PRICE, NUMBER AND TYPE OF WARRANT SHARES

 

(a)The Exercise
Price and the number of shares purchasable upon the exercise of this Warrant shall be subject to adjustment from time to time upon
the occurrence of certain events described in this Section 3; provided, that notwithstanding the provisions of this Section
3, the Company shall not be required to make any adjustment if and to the extent that such adjustment would require the Company
to issue a number of shares of Common Stock in excess of its authorized but unissued shares of Common Stock, less all amounts of
Common Stock that have been reserved for issue upon the conversion of all outstanding securities convertible into shares of Common
Stock and the exercise of all outstanding options, warrants and other rights exercisable for shares of Common Stock. If the Company
does not have the requisite number of authorized but unissued shares of Common Stock to make any adjustment, the Company shall
use its commercially best efforts to obtain the necessary stockholder consent to increase the authorized number of shares of Common
Stock to make such an adjustment pursuant to this Section 3.

 

(i)Subdivision
or Combination of Stock. In case the Company shall at any time subdivide (whether by way of stock dividend, stock split or
otherwise) its outstanding shares of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior
to such subdivision shall be proportionately reduced and the number of Warrant Shares shall be proportionately increased, and conversely,
in case the outstanding shares of Common Stock of the Company shall be combined (whether by way of stock combination, reverse stock
split or otherwise) into a smaller number of shares, the Exercise Price in effect immediately prior to such combination shall be
proportionately increased and the number of Warrant Shares shall be proportionately decreased. The Exercise Price and the Warrant
Shares, as so adjusted, shall be readjusted in the same manner upon the happening of any successive event or events described in
this Section 3(a)(i).

 

(ii)Dividends
in Stock, Property, Reclassification. If at any time, or from time to time, all of the holders of Common Stock (or any shares
of stock or other securities at the time receivable upon the exercise of this Warrant) shall have received or become entitled to
receive, without payment therefore:

 

(A)any shares of
stock or other securities that are at any time directly or indirectly convertible into or exchangeable for Common Stock, or any
rights or options to subscribe for, purchase or otherwise acquire any of the foregoing by way of dividend or other distribution,
or

 

(B)additional stock
or other securities or property (including cash) by way of spin-off, split-up, reclassification, combination of shares or similar
corporate rearrangement (other than shares of Common Stock issued as a stock split or adjustments in respect of which shall be
covered by the terms of Section 3(a)(i) above),

 

    	6

    	 

    

 

then and in each such case, the Exercise
Price and the number of Warrant Shares to be obtained upon exercise of this Warrant shall be adjusted proportionately, and the
Holder hereof shall, upon the exercise of this Warrant, be entitled to receive, in addition to the number of shares of Common Stock
receivable thereupon, and without payment of any additional consideration therefor, the amount of stock and other securities and
property (including cash in the cases referred to above) that such Holder would hold on the date of such exercise had such Holder
been the holder of record of such Common Stock as of the date on which holders of Common Stock received or became entitled to receive
such shares or all other additional stock and other securities and property. The Exercise Price and the Warrant Shares, as so adjusted,
shall be readjusted in the same manner upon the happening of any successive event or events described in this Section 3(a)(ii).

 

(iii)Reorganization,
Reclassification, Consolidation, Merger or Sale. If any recapitalization, reclassification or reorganization of the capital
stock of the Company, or any consolidation or merger of the Company with another corporation, or the sale of all or substantially
all of its assets or other transaction shall be effected in such a way that holders of Common Stock shall be entitled to receive
stock, securities, or other assets or property (an “Organic Change”), then, as a condition of such Organic
Change, lawful and adequate provisions shall be made by the Company whereby the Holder hereof shall thereafter have the right
to purchase and receive (in lieu of the shares of the Common Stock of the Company immediately theretofore purchasable and receivable
upon the exercise of the rights represented by this Warrant) such shares of stock, securities or other assets or property as may
be issued or payable with respect to or in exchange for a number of outstanding shares of such Common Stock equal to the number
of shares of such stock immediately theretofore purchasable and receivable assuming the full exercise of the rights represented
by this Warrant. In the event of any Organic Change, appropriate provision shall be made by the Company with respect to the rights
and interests of the Holder of this Warrant to the end that the provisions hereof (including, without limitation, provisions for
adjustments of the Exercise Price and of the number of shares purchasable and receivable upon the exercise of this Warrant and
registration rights) shall thereafter be applicable, in relation to any shares of stock, securities or assets thereafter deliverable
upon the exercise hereof. The Company will not affect any such consolidation, merger or sale unless, prior to the consummation
thereof, the successor corporation (if other than the Company) resulting from such consolidation or merger or the corporation
purchasing such assets shall assume by written instrument reasonably satisfactory in form and substance to the Holder executed
and mailed or delivered to the registered Holder hereof at the last address of such Holder appearing on the books of the Company,
the obligation to deliver to such Holder such shares of stock, securities or assets as, in accordance with the foregoing provisions,
such Holder may be entitled to purchase. If there is an Organic Change,
then the Company shall cause to be mailed to the Holder at its last address as it shall appear on the books and records of the
Company, at least 10 calendar days before the effective date of the Organic Change, a notice stating the date on which such Organic
Change 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 for securities, cash, or other property delivered upon such Organic Change; 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. The Holder is entitled to exercise this Warrant during the 10-day period commencing
on the date of such notice to the effective date of the event triggering such notice.
In any event, the successor corporation (if other than the Company) resulting from such consolidation or merger
or the corporation purchasing such assets shall be deemed to assume such obligation to deliver to such Holder such shares of stock,
securities or assets even in the absence of a written instrument assuming such obligation to the extent such assumption occurs
by operation of law.

 

    	7

    	 

    

 

 

(b)Certificate
as to Adjustments. Upon the occurrence of each adjustment or readjustment pursuant to this Section 3, the Company at its expense
shall promptly compute such adjustment or readjustment in accordance with the terms hereof and furnish to each Holder of this Warrant
a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment
is based. The Company shall promptly furnish or cause to be furnished to such Holder a like certificate setting forth: (i) such
adjustments and readjustments; and (ii) the number of shares and the amount, if any, of other property which at the time would
be received upon the exercise of the Warrant.

 

(c)Certain Events.
If any event occurs as to which the other provisions of this Section 3 are not strictly applicable but the lack of any adjustment
would not fairly protect the purchase rights of the Holder under this Warrant in accordance with the basic intent and principles
of such provisions, or if strictly applicable would not fairly protect the purchase rights of the Holder under this Warrant in
accordance with the basic intent and principles of such provisions, then the Company's Board of Directors will, in good faith,
make an appropriate adjustment to protect the rights of the Holder; provided, that no such adjustment pursuant to this Section
3(c) will increase the Exercise Price or decrease the number of Warrant Shares as otherwise determined pursuant to this Section
3.

 

		4.	REDEMPTION OF WARRANTS

 

(a)General.
Prior to the Expiration Date, the Company shall have the option, subject to the conditions set forth herein, to redeem all of the
Warrants then outstanding upon not less than thirty (30) days nor more than sixty (60) days prior written notice to the Warrant
Holders at any time provided that, at the time of delivery of such notice (i) there is an effective registration statement
covering the resale of the Warrant Shares, and (ii) the closing bid price of the Company’s Common
Stock for each of the twenty (20) consecutive Trading Days prior to the date of the notice of redemption is at least $5.00, as
proportionately adjusted to reflect any stock splits, stock dividends, combination of shares or like events. Notwithstanding the
foregoing, the Company shall not be entitled to redeem the Warrants pursuant to this Section 4 unless the Company also redeems
all of the Other Warrants then outstanding. 

 

(b)Notice.
Notice of redemption will be effective upon mailing in accordance with this Section and such date may be referred to below as the
“Notice Date.” Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not
less than 30 days prior to the date fixed for redemption to the Holders of the Warrants to be redeemed at their last addresses
as they shall appear on the registration books. Any notice mailed in the manner herein provided shall be conclusively presumed
to have been duly given whether or not the Holder received such notice.

 

(c)Redemption
Date and Redemption Price. The notice of redemption shall state the date set for redemption, which date shall be not less than
thirty (30) days, or more than sixty (60) days, from the Notice Date (the “Redemption Date”). The Company shall
not mail the notice of redemption unless all funds necessary to pay for redemption of the Warrants to be redeemed shall have first
been set aside by the Company for the benefit of the Warrant Holders so as to be and continue to be available therefor. The redemption
price to be paid to the Warrant Holders will be $0.0001 for each share of Common Stock of the Company to which the Warrant Holder
would then be entitled upon exercise of the Warrant being redeemed, as adjusted from time to time as provided herein (the “Redemption
Price”).

 

    	8

    	 

    

 

(d)Exercise.
Following the Notice Date, the Warrant Holders may exercise their Warrants in accordance with Section 1 of this Warrant between
the Notice Date and 5:00 p.m. Eastern Time on the Redemption Date and such exercise shall be timely if the form of election to
purchase duly executed and the Warrant Exercise Price for the shares of Common Stock to be purchased are actually received by the
Company at its principal offices prior to 5:00 p.m. Eastern Time on the Redemption Date.

 

(e)Mailing.
If any Warrant Holder does not wish to exercise any Warrant being redeemed, he should mail such Warrant to the Company at its principal
offices after receiving the notice of redemption. On and after 5:00 p.m. Eastern Time on the Redemption Date, notwithstanding that
any Warrant subject to redemption shall not have been surrendered for redemption, the obligation evidenced by all Warrants not
surrendered for redemption or effectively exercised shall be deemed no longer outstanding, and all rights with respect thereto
shall forthwith cease and terminate, except only the right of the holder of each Warrant subject to redemption to receive the Redemption
Price for each share of Common Stock to which he would be entitled if he exercised the Warrant upon receiving notice of redemption
of the Warrant subject to redemption held by him.

 

		5.	TRANSFERS AND EXCHANGES OF WARRANT AND WARRANT SHARES

 

(a)Registration
of Transfers and Exchanges. Subject to Section 5(c), upon the Holder’s surrender of this Warrant, with a duly executed
copy of the Form of Assignment attached as Exhibit B, to the Secretary of the Company at its principal offices or at such
other office or agency as the Company may specify in writing to the Holder, the Company shall register the transfer of all or any
portion of this Warrant. Upon such registration of transfer, the Company shall issue a new Warrant, in substantially the form of
this Warrant, evidencing the acquisition rights transferred to the transferee and a new Warrant, in similar form, evidencing the
remaining acquisition rights not transferred, to the Holder requesting the transfer.

 

(b)Warrant Exchangeable
for Different Denominations. The Holder may exchange this Warrant for a new Warrant or Warrants, in substantially the form
of this Warrant, evidencing in the aggregate the right to purchase the number of Warrant Shares which may then be purchased hereunder,
each of such new Warrants to be dated the date of such exchange and to represent the right to purchase such number of Warrant Shares
as shall be designated by the Holder. The Holder shall surrender this Warrant with duly executed instructions regarding such re-certification
of this Warrant to the Secretary of the Company at its principal offices or at such other office or agency as the Company may specify
in writing to the Holder.

 

(c)Restrictions
on Transfers. This Warrant may not be transferred at any time without (i) registration under the Securities Act or (ii) an
exemption from such registration and a written opinion of legal counsel addressed to the Company that the proposed transfer of
the Warrant may be effected without registration under the Securities Act, which opinion will be in form and from counsel reasonably
satisfactory to the Company.

 

    	9

    	 

    

 

(d)Permitted
Transfers and Assignments. Notwithstanding any provision to the contrary in this Section 5, the Holder may transfer, with or
without consideration, this Warrant or any of the Warrant Shares (or a portion thereof) to the Holder’s Affiliates (as such
term is defined under Rule 144 of the Securities Act) without obtaining the opinion from counsel that may be required by Section
5(c)(ii), provided, that the Holder delivers to the Company and its counsel certification, documentation, and other assurances
reasonably required by the Company’s counsel to enable the Company’s counsel to render an opinion to the Company’s
Transfer Agent that such transfer does not violate applicable securities laws.

 

		6.	MUTILATED OR MISSING WARRANT CERTIFICATE

 

If this Warrant is
mutilated, lost, stolen or destroyed, upon request by the Holder, the Company will, at its expense, issue, in exchange for and
upon cancellation of the mutilated Warrant, or in substitution for the lost, stolen or destroyed Warrant, a new Warrant, in substantially
the form of this Warrant, representing the right to acquire the equivalent number of Warrant Shares; provided, that, as
a prerequisite to the issuance of a substitute Warrant, the Company may require satisfactory evidence of loss, theft or destruction
as well as an indemnity from the Holder of a lost, stolen or destroyed Warrant.

 

		7.	PAYMENT OF TAXES

 

The Company will pay
all transfer and stock issuance taxes attributable to the preparation, issuance and delivery of this Warrant and the Warrant Shares
(and replacement Warrants) including, without limitation, all documentary and stamp taxes; provided, however, that
the Company shall not be required to pay any tax in respect of the transfer of this Warrant, or the issuance or delivery of certificates
for Warrant Shares or other securities in respect of the Warrant Shares to any person or entity other than to the Holder.

 

		8.	FRACTIONAL WARRANT SHARES

 

No fractional Warrant
Shares shall be issued upon exercise of this Warrant. The Company, in lieu of issuing any fractional Warrant Share, shall round
up the number of Warrant Shares issuable to nearest whole share.

 

		9.	NO STOCK RIGHTS AND LEGEND

 

No holder of this Warrant,
as such, shall be entitled to vote or be deemed the holder of any other securities of the Company that may at any time be issuable
on the exercise hereof, nor shall anything contained herein be construed to confer upon the holder of this Warrant, as such, the
rights of a stockholder of the Company or the right to vote for the election of directors or upon any matter submitted to stockholders
at any meeting thereof, or give or withhold consent to any corporate action or to receive notice of meetings or other actions affecting
stockholders (except as provided herein), or to receive dividends or subscription rights or otherwise (except as provide herein).

 

    	10

    	 

    

 

Each certificate for
Warrant Shares initially issued upon the exercise of this Warrant, and each certificate for Warrant Shares issued to any subsequent
transferee of any such certificate, shall be stamped or otherwise imprinted with a legend in substantially the following form:

 

“THE SECURITIES
REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”),
OR ANY STATE SECURITIES LAWS, AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE
TRANSFERRED UNLESS (1) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES
LAWS, OR (2) AN EXEMPTION FROM SUCH REGISTRATION EXISTS AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER OF SUCH SECURITIES,
WHICH COUNSEL AND OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED, ASSIGNED
OR TRANSFERRED IN THE MANNER CONTEMPLATED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR APPLICABLE STATE SECURITIES
LAWS.”

 

		10.	REGISTRATION RIGHTS

 

The Holder shall be
entitled to the registration rights as are contained in the Registration Rights Agreement, the provisions of which are deemed incorporated
herein by reference.  

 

		11.	NOTICES

 

All
notices, consents, waivers, and other communications under this Warrant must be in writing and will be deemed given to a party
when (a) delivered to the appropriate address by hand or by nationally recognized overnight courier service (costs prepaid); (b)
sent by facsimile or e-mail with confirmation of transmission by the transmitting equipment; (c) received or rejected by the addressee,
if sent by certified mail, return receipt requested, if to the registered Holder hereof; or (d) seven days after the placement
of the notice into the mails (first class postage prepaid), to the Holder at the address, facsimile number, or e-mail address furnished
by the registered Holder to the Company in accordance with the Subscription Agreement by and between the Company and the Holder,
or if to the Company, to it at 915 Klosterman Road East, Tarpon Springs, FL 34689, Attention:
Roelof Rongen (or to such other address, facsimile number, or e-mail address as the Holder or the Company as a party may designate
by notice the other party).

 

		12.	SEVERABILITY

 

If a court of competent
jurisdiction holds any provision of this Warrant invalid or unenforceable, the other provisions of this Warrant will remain in
full force and effect. Any provision of this Warrant held invalid or unenforceable only in part or degree will remain in full force
and effect to the extent not held invalid or unenforceable.

 

    	11

    	 

    

 

		13.	BINDING EFFECT

 

This Warrant shall
be binding upon and inure to the sole and exclusive benefit of the Company, its successors and assigns, the registered Holder or
Holders from time to time of this Warrant and the Warrant Shares.

 

    	12

    	 

    

		14.	SURVIVAL OF RIGHTS AND DUTIES

 

This Warrant shall
terminate and be of no further force and effect on the earlier of 5:00 P.M., Eastern Time, on the Expiration Date or the date on
which this Warrant has been exercised in full.

 

		15.	GOVERNING LAW

 

This Warrant will be
governed by and construed under the laws of the State of New York without regard to conflicts of laws principles that would require
the application of any other law.

 

		16.	DISPUTE RESOLUTION

 

In the case of a dispute
as to the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares, the Company shall submit the
disputed determinations or arithmetic calculations via facsimile within two Business Days of receipt of the Notice of Exercise
giving rise to such dispute, as the case may be, to the Holder. If the Holder and the Company are unable to agree upon such determination
or calculation of the Exercise Price or the Warrant Shares within three Business Days of such disputed determination or arithmetic
calculation being submitted to the Holder, then the Company shall, within two Business Days, submit via facsimile (a) the disputed
determination of the Exercise Price to an independent, reputable investment bank selected by the Company and approved by the Holder
or (b) the disputed arithmetic calculation of the Warrant Shares to the Company’s independent, outside accountant. The Company
shall cause at its expense the investment bank or the accountant, as the case may be, to perform the determinations or calculations
and notify the Company and the Holder of the results no later than ten (10) Business Days from the time it receives the disputed
determinations or calculations. Such investment bank’s or accountant’s determination or calculation, as the case may
be, shall be binding upon all parties absent demonstrable error.

 

		17.	NOTICES OF RECORD DATE

 

Upon (a) any establishment
by the Company of a record date of the holders of any class of securities for the purpose of determining the holders thereof who
are entitled to receive any dividend or other distribution, or right or option to acquire securities of the Company, or any other
right, or (b) any capital reorganization, reclassification, recapitalization, merger or consolidation of the Company with or into
any other corporation, any transfer of all or substantially all the assets of the Company, or any voluntary or involuntary dissolution,
liquidation or winding up of the Company, or the sale, in a single transaction, of a majority of the Company’s voting stock
(whether newly issued, or from treasury, or previously issued and then outstanding, or any combination thereof), the Company shall
mail to the Holder at least ten (10) Business Days, or such longer period as may be required by law, prior to the record date specified
therein, a notice specifying (i) the date established as the record date for the purpose of such dividend, distribution, option
or right and a description of such dividend, option or right, (ii) the date on which any such reorganization, reclassification,
transfer, consolidation, merger, dissolution, liquidation or winding up, or sale is expected to become effective and (iii) the
date, if any, fixed as to when the holders of record of Common Stock shall be entitled to exchange their shares of Common Stock
for securities or other property deliverable upon such reorganization, reclassification, transfer, consolation, merger, dissolution,
liquidation or winding up.

 

    	13

    	 

    

 

		18.	RESERVATION OF SHARES

 

The Company shall reserve
and keep available out of its authorized but unissued shares of Common Stock for issuance upon the exercise of this Warrant, free
from pre-emptive rights, such number of shares of Common Stock for which this Warrant shall from time to time be exercisable. 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. Without limiting the generality of the foregoing, the Company covenants
that it will use commercially reasonable efforts to 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 use commercially
reasonable efforts to obtain all such authorizations, exemptions or consents, including but not limited to consents from the Company’s
stockholders or Board of Directors or any public regulatory body, as may be necessary to enable the Company to perform its obligations
under this Warrant.

 

		19.	NO THIRD PARTY RIGHTS

 

This Warrant is not
intended, and will not be construed, to create any rights in any parties other than the Company and the Holder, and no person or
entity may assert any rights as third-party beneficiary hereunder.

 

[SIGNATURE PAGE FOLLOWS]

 

    	14

    	 

    

 

IN WITNESS WHEREOF, the
Company has caused this Warrant to be duly executed as of the date first set forth above.

 

	 	MATINAS BIOPHARMA HOLDINGS, INC.
	 	 	 
	 	By:	 
	 	 	  Name:	Roelof Rongen
	 	 	  Title:	President and Chief Executive Officer

 

    	15

    	 

    

 

EXHIBIT A

 

NOTICE OF EXERCISE

 

(To be executed by the Holder of Warrant
if such Holder desires to exercise Warrant)

 

To Matinas
BioPharma Holdings,Inc.:

 

The
undersigned hereby irrevocably elects to exercise this Warrant and to purchase thereunder, ___________________ full shares of Matinas
BioPharma Holdings,Inc. common stock issuable upon exercise of the Warrant and delivery of:

 

(1)        $_________ (in
cash as provided for in the foregoing Warrant) and any applicable taxes payable by the undersigned pursuant to such Warrant; and

 

(2)        __________ shares
of Common Stock (pursuant to a Cashless Exercise in accordance with Section 1(b)(ii) of the Warrant) (check here if the undersigned
desires to deliver an unspecified number of shares equal the number sufficient to effect a Cashless Exercise [___]).

 

The undersigned
requests that certificates for such shares be issued in the name of:

 

 

 

(Please print name, address and social security
or federal employer

identification number (if applicable))

 

 

 

 

 If the shares issuable upon this
exercise of the Warrant are not all of the Warrant Shares which the Holder is entitled to acquire upon the exercise of the Warrant,
the undersigned requests that a new Warrant evidencing the rights not so exercised be issued in the name of and delivered to:

  

 

(Please print name, address and social
security or federal employer

identification number (if applicable))

 

 

 

 

 

	 	Name of Holder (print):	 

	 	(Signature):	 

	 	(By:)	 

	 	(Title:)	 

	 	Dated:	 

 

    	16

    	 

    

 

EXHIBIT B

 

FORM OF ASSIGNMENT

 

FOR VALUE RECEIVED,
___________________________________ hereby sells, assigns and transfers to each assignee set forth below all of the rights of the
undersigned under the Warrant (as defined in and evidenced by the attached Warrant) to acquire the number of Warrant Shares set
opposite the name of such assignee below and in and to the foregoing Warrant with respect to said acquisition rights and the shares
issuable upon exercise of the Warrant:

 

	Name of Assignee	Address	Number of Shares
	
         

         
	 	 
	
         

         
	 	 
	
         

         
	 	 
	
         

         
	 	 

 

If the total of the
Warrant Shares are not all of the Warrant Shares evidenced by the foregoing Warrant, the undersigned requests that a new Warrant
evidencing the right to acquire the Warrant Shares not so assigned be issued in the name of and delivered to the undersigned.

 

	 	Name of Holder (print):	 

	 	(Signature):	 

	 	(By:)	 

	 	(Title:)	 

	 	Dated:

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