Document:

Exhibit 4.4

           Investors Capital Holdings, Ltd. 2001 Equity Incentive Plan

                       As Amended Effective July 28, 2004

SECTION 1
PURPOSE

The purpose of the Investors Capital Holdings, Ltd. 2001 Equity Incentive Plan
is to provide a means whereby Investors Capital Holdings, Ltd., a Massachusetts
corporation (the "Corporation"), may attract able persons to remain in or to
enter the employ of the Corporation, a Parent Corporation, or a Subsidiary and
to provide a means whereby those employees, directors, officers, and other
individuals or entities upon whom the responsibilities of the successful
administration, management, planning, and/or organization of the Corporation may
rest, and whose present and potential contributions to the welfare of the
Corporation, a Parent Corporation or a Subsidiary are of importance, can acquire
and maintain stock ownership, thereby strengthening their concern for the
long-term welfare of the Corporation. A further purpose of the Plan is to
provide such employees and individuals or entities with additional incentive and
reward opportunities designed to enhance the profitable growth of the
Corporation over the long term. Accordingly, the Plan provides for granting
Common Stock, Incentive Stock Options, options which do not constitute Incentive
Stock Options, or any combination of the foregoing, as is best suited to the
circumstances of the particular employees and individuals or entities as
provided herein.

SECTION 2
DEFINITIONS

The following definitions shall be applicable during the term of the Plan unless
specifically modified by any paragraph:

(a)  Award means, individually or collectively, any Option granted pursuant to
     the Plan.

(b)  Board means the board of directors of the Corporation.

(c)  Change of Control Value means the amount determined in Clause (i), (ii) or
     (iii), whichever is applicable, as follows: (i) the per share price offered
     to stockholders of the Corporation in any merger, consolidation, sale or
     assets or dissolution transaction, (ii) the price per share offered to

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     stockholders of the corporation in any tender offer or exchange offer
     whereby a Corporate Change takes place or (iii) if a Corporate Change
     occurs other than as described in Clause (i) or Clause (ii), the fair
     market value per share determined by the Board as of the date determined by
     the Board to be the date of cancellation and surrender of an Option. If the
     consideration offered to stockholders of the Corporation in any transaction
     described in this Paragraph or Paragraphs (d) and (e) of Section 8 consists
     of anything other than cash, the Board shall determine the fair cash
     equivalent of the portion of the consideration offered which is other than
     cash.

(d)  Code means the Internal Revenue Code of 1986, as amended. Reference in the
     Plan to any Section of the Code shall be deemed to include any amendments
     or successor provisions to such Section and any regulations under such
     Section.

(e)  Common Stock means the common stock of the Corporation.

(f)  Corporation means Investors Capital Holdings, Ltd.

(g)  Corporate Change means one of the following events: (i) the merger,
     consolidation or other reorganization of the Corporation in which the
     outstanding Common Stock is converted into or exchanged for a different
     class of securities of the Corporation, a class of securities of any other
     issuer (except a Subsidiary or Parent Corporation), cash or other property
     other than (a) a merger, consolidation or reorganization of the Corporation
     which would result in the voting stock of the Corporation outstanding
     immediately prior thereto continuing to represent (either by remaining
     outstanding or by being converted into voting securities of the surviving
     entity), in combination with the ownership of any trustee or other
     fiduciary holding securities under an employee benefit plan of the
     Corporation, at least sixty percent (60%) of the combined voting power of
     the voting stock of the Corporation or such surviving entity outstanding
     immediately after such merger, consolidation or reorganization of the
     Corporation, or (b) merger, consolidation or reorganization of the
     Corporation effected to implement a recapitalization of the Corporation (or
     similar transaction) in which no person acquires more than forty-nine
     percent (49%) of the combined voting power of the Corporation's then
     outstanding stock; (ii) the sale, lease or exchange of all or substantially
     all of the assets of the Corporation to any other corporation or entity
     (except a Subsidiary or Parent Corporation); (iii) the adoption by the
     stockholders of the Corporation of a plan of liquidation and dissolution;
     (iv) the acquisition (other than acquisition pursuant to any other clause
     of this definition) by any person or entity, including without limitation a
     "group" as contemplated by Section 13(d)(3) of the Exchange Act, of
     beneficial ownership, as contemplated by such Section, of more than
     twenty-five percent (25%) (based on voting power) of the Corporation's

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     outstanding capital stock or acquisition by a person or entity who
     currently has beneficial ownership which increases such person's or
     entity's beneficial ownership to fifty percent (50%) or more (based on
     voting power) of the Corporation's outstanding capital stock; or (v) as a
     result of or in connection with a contested election of directors, the
     persons who were directors of the Corporation before such election shall
     cease to constitute a majority of the Board. Notwithstanding the provisions
     of clause (iv) above, a Corporate Change shall not be considered to have
     occurred upon the acquisition (other than acquisition pursuant to any other
     clause of the preceding sentence) by any person or entity, including
     without limitation a "group" as contemplated by Section 13(d)(3) of the
     Exchange Act, of beneficial ownership, as contemplated by such Section, of
     more than twenty-five percent (25%) (based on voting power) of the
     Corporation's outstanding capital stock or the requisite percentage to
     increase their ownership to fifty percent (50%) resulting from a public
     offering of securities of the Corporation under the Securities Act of 1933,
     as amended.

(h)  Designated Officer means an officer of the Corporation, such as the
     President or Chief Operating Officer, who is given authority by the Board
     to grant options or make stock grants under the Plan.

(i)  Exchange Act means the Securities Exchange Act of 1934, as amended.

(j)  Fair Market Value means, as of any specified date, the closing price of the
     Common Stock on the NASDAQ (or, if the Common Stock is not listed on such
     exchange, such other national securities exchange on which the Common Stock
     is then listed) on that date, or if no prices are reported on that date, on
     the last preceding date on which such prices of the Common Stock are so
     reported. If the Common Stock is not then listed on any national securities
     exchange but is traded over the counter at the time determination of its
     Fair Market Value is required to be made hereunder, its Fair Market Value
     shall be deemed to be equal to the average between the reported high and
     low sales prices of Common Stock on the most recent date on which Common
     Stock was publicly traded. If the Common Stock is not publicly traded at
     the time a determination of its value is required to be made hereunder, the
     determination of its Fair Market Value shall be made by the Board in such
     manner as it deems appropriate (such determination will be made in
     good-faith as required by Section 422(c)(1) of the Code and may be based on
     the advice of an independent investment banker or appraiser recognized to
     be expert in making such valuations).

(k)  Grant means individually or collectively, any Common Stock granted pursuant
     to the Plan.

(l)  Grantee means an employee, director, officer, other individual or entity
     who has been granted Common Stock pursuant to the Plan.

(m)  Holder means an individual or entity who has been granted an Award.

(n)  Incentive Stock Option means an Option within the meaning of Section 422 of
     the Code.

(o)  Option means an Award granted under Section 7 of the Plan and includes both
     Incentive Stock Options to purchase Common Stock and Options which do not
     constitute Incentive Stock Options to purchase Common Stock.

(p)  Option Agreement means a written agreement between the Corporation and an
     employee with respect to an Option.

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(q)      Optionee means an employee, director, officer, entity or individual who
         has been granted an Option.

(r)      Parent Corporation shall have the meaning set forth in Section 424(e)
         of the Code.

(s)      Plan means the Investors Capital Holdings, Ltd. 2001 Equity Incentive
         Plan.

(t)      Rule 16b-3 means Rule 16b-3 of the General Rules and Regulations of the
         Securities and Exchange Commission under the Exchange Act, as such rule
         is currently in effect or as hereafter modified or amended.

(u)      Subsidiary means a company (whether a corporation, partnership, joint
         venture or other form of entity) in which the Corporation, or a
         corporation in which the Corporation owns a majority of the shares of
         capital stock, directly or indirectly, owns an equity interest of fifty
         percent (50%) or more, except solely with respect to the issuance of
         Incentive Stock Options the term "Subsidiary" shall have the same
         meaning as the term "subsidiary corporation" as defined in Section
         424(f) of the Code.

SECTION 3
EFFECTIVE DATE AND DURATION OF THE PLAN

The Plan shall be effective as of January 1, 2001, with Board approval, provided
that the Plan is approved by the stockholders of the Corporation within twelve
(12) months before or thereafter and on or prior to the date of the first annual
meeting of stockholders of the Corporation held subsequent to the acquisition of
an equity security by a Holder hereunder for which exemption is claimed under
Rule 16b-3. Notwithstanding any provision of the Plan or of any Option
Agreement, no Option shall be exercisable and no Common Stock may be granted
prior to such stockholder approval. The Plan shall be terminated and no further
Awards or Common Stock may be granted under the Plan after ten (10) years from
the date the Plan is adopted by the Board or the date the Plan is approved by
the Corporation's shareholders, whichever is earlier. Subject to the provisions
of Section 9, the Plan shall remain in effect until all Options granted under
the Plan have been exercised or have expired by reason of lapse of time and all
restrictions imposed upon restricted stock awards have lapsed. Any option
exercised before shareholder approval is obtained must be rescinded if
shareholder approval is not obtained within twelve (12) months before or after
the Plan is adopted. Such shares shall not be counted in determining whether
such approval is granted.

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SECTION 4
ADMINISTRATION

(a)  Administration of Plan by Board. The Plan shall be administered by the
     Board in compliance with Rule 16b-3. Members of the Board shall abstain
     from participating in and deciding matters which directly affect their
     individual ownership interests under the Plan.

(b)  Powers. Subject to the terms of the Plan, the Board shall elect one or
     several Designated Officers who shall have sole authority, in their
     discretion, to determine which employees, officers, directors, individuals
     or entities shall receive an Award or Grant, the time or times when such
     Award or Grant shall be made, whether Common Stock, an Incentive Stock
     Option or nonqualified Option shall be granted and the number of shares of
     Common Stock which may be issued under each Option. In making such
     determinations, the Designated Officer may take into account the nature of
     the services rendered by these individuals, their present and potential
     contribution to the success of the Corporation, a Parent Corporation or a
     Subsidiary, and such other factors as the Board in its discretion shall
     deem relevant.

(c)  Additional Powers. The Board shall have such additional powers as are
     delegated to it by the other provisions of the Plan. Subject to the express
     provisions of the Plan, the Board is authorized in its sole discretion,
     exercised in a nondiscriminatory manner, to construe and interpret the Plan
     and the respective agreements executed thereunder, to prescribe such rules
     and regulations relating to the Plan as it may deem advisable to carry out
     the Plan, and to determine the terms, restrictions and provisions of each
     Award or Grant, including such terms, restrictions and provisions as shall
     be requisite in the judgment of the Board to cause designated Options to
     qualify as Incentive Stock Options, and to make all other determinations
     necessary or advisable for administering the Plan. The Board may correct
     any defect or supply any omission or reconcile any inconsistency in any
     agreement relating to an Award or Grant in the manner and to the extent it
     shall deem expedient to carry it into effect. The determination of the
     Board on the matters referred to in this Section 4 shall be conclusive.

(d)  Compliance With Code Section 162(m). The Corporation may establish a
     committee of outside directors meeting the requirements of Code Section
     162(m) to (i) approve the grant of Options which might reasonably be
     anticipated to result in the payment of employee remuneration that would
     otherwise exceed the limit on employee remuneration deductible for income
     tax purposes by the Corporation pursuant to Code Section 162(m) and (ii)
     administer the Plan. In such event, the powers reserved to the Board in the
     Plan shall be exercised by such compensation committee. In addition,
     Options under the Plan shall be granted upon satisfaction of the conditions
     to such grants provided pursuant to Code Section 162(m) and any Treasury
     Regulations promulgated thereunder.

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SECTION 5
GRANT OF OPTIONS AND STOCK SUBJECT TO THE PLAN

(a)  Award Limits. A Designated Officer may from time to time grant Awards
     and/or make Grants to one or more employees, directors, officers,
     individuals or entities determined by him or her to be eligible for
     participation in the Plan in accordance with the provisions of Section 6 of
     the Plan. The aggregate number of shares of Common Stock that may be issued
     under the Plan shall not exceed 250,000 shares. The aggregate number of
     shares of Common Stock that may be issued to any Holder and/or granted to
     any Grantee under the Plan shall not exceed 10% percent of the aggregate
     number of shares referred to in the preceding sentence. The total number of
     shares issuable upon exercise of all outstanding Options shall not exceed a
     number of shares which is equal to thirty percent (30%) of the then
     outstanding shares of the Corporation. Any of such shares which remain
     unissued and which are not subject to outstanding Options and/or Grants at
     the termination of the Plan shall cease to be subject to the Plan but,
     until termination of the Plan, the Corporation shall at all times reserve a
     sufficient number of shares to meet the requirements of the Plan. Shares
     shall be deemed to have been issued under the Plan only to the extent
     actually issued and delivered pursuant to an Award or Grant. To the extent
     that an Award or Grant lapses or the rights of its Holder or Grantee
     terminate, any shares of Common Stock subject to such Award or Grant shall
     again be available for the grant of an Award or making of a Grant. The
     aggregate number of shares which may be issued under the Plan shall be
     subject to adjustment in the same manner as provided in Section 8 of the
     Plan with respect to shares of Common Stock subject to Options then
     outstanding. Separate stock certificates shall be issued by the Corporation
     for those shares acquired pursuant to a Grant, the exercise of an Incentive
     Stock Option and for those shares acquired pursuant to the exercise of any
     Option which does not constitute an Incentive Stock Option.

(b)  Stock Offered. The stock to be offered pursuant to an Award or Grant may be
     authorized but unissued Common Stock or Common Stock previously issued and
     outstanding and reacquired by the Corporation.

SECTION 6
ELIGIBILITY

An Incentive Stock Option Award made pursuant to the Plan may be granted only to
an individual who, at the time of grant, is an employee of the Corporation, a
Parent Corporation or a Subsidiary. An Award of an Option which is not an
Incentive Stock Option or a Grant of Common Stock may be made to an individual
who, at the time of Award or Grant, is an employee of the Corporation, a Parent
Corporation or a Subsidiary, or to an individual or entity who has been
identified by the Board or Designated Officer to receive an Award or Grant due
to their contribution or service to the Corporation, including members of the
Board of Directors of the Corporation, a Parent Corporation or a Subsidiary. An
Award or Grant made pursuant to the Plan may be made on more than one occasion
to the same person or entity, and such Award or Grant may include a Common Stock
Grant, an Incentive Stock Option, an Option which is not an Incentive Stock
Option, or any combination thereof. Each Award or Grant shall be evidenced by a
written instrument duly executed by or on behalf of the Corporation.

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SECTION 7
STOCK OPTIONS/GRANTS

(a)  Stock Option Agreement. Each Option shall be evidenced by an Option
     Agreement between the Corporation and the Optionee which shall contain such
     terms and conditions as may be approved by the Board and agreed upon by the
     Holder. The terms and conditions of the respective Option Agreements need
     not be identical. Each Option Agreement shall specify the effect of
     termination of employment, total and permanent disability, retirement or
     death on the exercisability of the Option. Under each Option Agreement, a
     Holder shall have the right to appoint any individual or legal entity in
     writing as his or her beneficiary under the Plan in the event of his death.
     Such designation may be revoked in writing by the Holder at any time and a
     new beneficiary may be appointed in writing on the form provided by the
     Board for such purpose. In the absence of such appointment, the beneficiary
     shall be the legal representative of the Holder's estate.

(b)  Option Period. The term of each Option shall be as specified by the Board
     at the date of grant and shall be stated in the Option Agreement; provided,
     however, that an option may not be exercised more than one hundred twenty
     (120) months from the date it is granted.

(c)  Limitations on Exercise of Option. Any Option granted hereunder shall be
     exercisable at such times and under such conditions as determined by the
     Board and as shall be permissible under the terms of the Plan, which shall
     be specified in the Option Agreement evidencing the Option. An Option may
     not be exercised for fractional shares.

(d)  Special Limitations on Incentive Stock Options. To the extent that the
     aggregate Fair Market Value (determined at the time the respective
     Incentive Stock Option is granted) of Common Stock with respect to which
     Incentive Stock Options are exercisable for the first time by an individual
     during any calendar year under all incentive stock option plans of the
     Corporation (and any Parent Corporation or Subsidiary) exceeds One Hundred
     Thousand Dollars ($100,000) (within the meaning of Section 422 of the
     Code), such excess Incentive Stock Options shall be treated as Options
     which do not constitute Incentive Stock Options. The Board shall determine,
     in accordance with applicable provisions of the Code, Treasury Regulations
     and other administrative pronouncements, which of an Optionee's Incentive
     Stock Options will not constitute Incentive Stock Options because of such
     limitation and shall notify the Optionee of such determination as soon as
     practicable after such determination. No Incentive Stock Option shall be
     granted to an individual if, at the time the Option is granted, such
     individual owns stock possessing more than ten percent (10%) of the total
     combined voting power of all classes of stock of the Corporation or of its
     Parent Corporation or a Subsidiary, within the meaning of Section 422(b)(6)
     of the Code, unless (i) at the time such Option is granted the Option price
     is at least one hundred ten percent (110%) of the Fair Market Value of the
     Common Stock subject to the Option and (ii) such Option by its terms is not
     exercisable after the expiration of five years from the date of grant.

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(e)  Option Price. The purchase price of Common Stock issued under each Option
     shall be determined by the Board and shall be stated in the Option
     Agreement, but such purchase price shall, in the case of Incentive Stock
     Options, not be less than the Fair Market Value of Common Stock subject to
     the Option on the date the Option is granted, and, in the case of Options
     which do not constitute Incentive Stock Options, not be less than
     eighty-five percent (85%) of the fair value of the stock at the time the
     option is granted, except that the price shall be one hundred ten percent
     (110%) of the fair value in the case of any person or entity who owns stock
     comprising more than ten percent (10%) of the total combined voting power
     of all classes of stock of the Corporation or its Parent Corporation or
     Subsidiary.

(f)  Options and Rights in Substitution for Stock Options Made by Other
     Corporations. Options may be granted under the Plan from time to time in
     substitution for stock options held by employees of corporations who
     become, or who became prior to the effective date of the Plan, employees of
     the Corporation, of any Parent Corporation or of any Subsidiary as a result
     of a merger or consolidation of the employing corporation with the
     Corporation, such Parent Corporation or such Subsidiary, or the acquisition
     by the Corporation, a Parent Corporation or a Subsidiary of all or a
     portion of the assets of the employing corporation, or the acquisition by
     the Corporation, a Parent Corporation or a Subsidiary of stock of the
     employing corporation with the result that such employing corporation
     becomes a Subsidiary.

(g)  Manner of Payment. The Option price shall be payable:

         (i) in cash or its equivalent;

         (ii) in shares of Common Stock previously acquired by the Optionee if,
         in the case of an Incentive Stock Option, the Board in its discretion
         causes the Option Agreement so to provide or if, in the case of an
         option not constituting an Incentive Stock Option, the Board in its
         discretion so determines at or prior to the time of exercise, provided
         that if such previously acquired shares (A) were acquired through the
         exercise of an Incentive Stock Option and are used to pay the Option
         exercise price of an Incentive Stock Option, such shares shall have
         been held by the Optionee for a period of not less than the holding
         period described in section 422(a)(1) of the Code on the date of
         exercise, or (B) were acquired through exercise of an option not
         constituting an Incentive Stock Option or of an option under a similar
         plan or through exercise of an Incentive Stock Option and are used to
         pay the Option exercise price of an option not constituting an
         Incentive Stock Option, such shares have been held by the Optionee for
         a period of more than 12 months on the date of exercise;

         (iii) in the discretion of the Board, in any combination of (i) and
         (ii) above; or

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     iv) in the discretion of the Board, on a net exercise basis as to a number
         of Option shares specified by the Optionee on the Form of Exercise (the
         "Exercise Number"). Such election shall be honored if the per share
         Fair Market Value of Common Stock exceeds the per share exercise price
         hereunder as of the exercise date. In such case, the number of Option
         shares as to which the Option may thereafter be exercised (subject to
         the other provisions hereof) shall be reduced by the Exercise Number,
         and the Corporation shall issue to Optionee a lesser number of Option
         shares equal to E(V-P)/V where:

                  E = the Exercise Number;

                  V = the per share Fair Market Value of Common Stock; and

                  P = the per share exercise price hereunder.

         In the event an Option exercise price is paid, in whole or in part,
         with shares of Common Stock as contemplated by subsection (ii) or (iii)
         above, the portion of the Option exercise price so paid shall equal the
         Fair Market Value on the date of exercise of the Option of the shares
         surrendered in payment of such Option exercise price.

         In the discretion of the Board, an Optionee may pay an Option exercise
         price in cash, as contemplated by subsection (i) above, pursuant to a
         so-called "cashless exercise" whereby the Company receives the exercise
         price directly from the Optionee's broker out of the proceeds from the
         sale or loan against all or a portion of the shares being purchased
         under the Option.

SECTION 8
RECAPITALIZATION OR REORGANIZATION

(a)      Except as hereinafter otherwise provided, Awards or Grants shall be
         subject to adjustment by the Board at its discretion as to the number
         and price of shares of Common Stock in the event of changes in the
         outstanding Common Stock by reason of stock dividends, stock splits,
         reverse stock splits, reclassifications, recapitalizations,
         reorganizations, mergers, consolidations, combinations, exchanges or
         other relevant changes in capitalization occurring after the date of
         the grant of any such Options or Common Stock.

(b)      The existence of the Plan and the Awards and/or Grants made hereunder
         shall not affect in any way the right or power of the Board or the
         stockholders of the Corporation to make or authorize any adjustment,
         recapitalization, reorganization or other change in the capital
         structure of the Corporation, a Parent Corporation or a Subsidiary or
         their business, any merger or consolidation of the Corporation, a
         Parent Corporation or a Subsidiary, any issue of debt or equity
         securities having any priority or preference with respect to or
         affecting Common Stock or the rights thereof, the dissolution or
         liquidation of the Corporation, a Parent Corporation or a Subsidiary,
         or any sale, lease, exchange or other disposition of all or any part of
         their assets or business or any other corporate act or proceeding.

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(c)  The shares with respect to which Options may be granted are shares of
     Common Stock as presently constituted but if and whenever, prior to the
     expiration of an Option theretofore granted, the Corporation shall effect a
     subdivision or consolidation of shares of Common Stock or the payment of a
     stock dividend on Common Stock without receipt of consideration by the
     Corporation, the number of shares of Common Stock with respect to which
     such Option may thereafter be exercised (i) in the event of an increase in
     the number of outstanding shares shall be proportionately increased, and
     the purchase price per share shall be proportionately reduced, and (ii) in
     the event of a reduction in the number of outstanding shares shall be
     proportionately reduced, and the purchase price per share shall be
     proportionately increased.

(d)  If the Corporation recapitalizes or otherwise changes its capital
     structure, thereafter upon any exercise of an Option theretofore granted,
     the Optionee shall be entitled to purchase under such Option, in lieu of
     the number of shares of Common Stock as to which such Option shall then be
     exercisable, the number and class of shares of stock and securities, and
     the cash and other property to which the Optionee would have been entitled
     pursuant to the terms of the recapitalization if, immediately prior to such
     recapitalization, the Optionee had been the holder of such record of the
     number of shares of Common Stock then covered by such Option.

(e)  In the event of a Corporate Change, unless otherwise deemed to be
     impractical by the Board, then no later than (i) two business days prior to
     any Corporate Change referenced in Clause (i), (ii), (iii), (v) or (vi) of
     the definition thereof or (ii) ten business days after any Corporate Change
     referenced in Clause (iv) of the definition thereof, the Board, acting in
     its sole discretion without the consent or approval of any Optionee or
     Grantee, shall act to effect the following alternatives with respect to
     outstanding Options which acts may vary among individual Optionees and,
     with respect to acts taken pursuant to Clause (i) above, may be contingent
     upon effectuation of the Corporate Change: (A) in the event of a Corporate
     Change referenced in Clauses (i), (ii) and (vi) acceleration of exercise
     for all Options then outstanding so that such Options may be exercised in
     full for a limited period of time on or before a specified date (before or
     after such Corporate Change) fixed by the Board, after which specified date
     all unexercised Options and all rights of Optionees thereunder shall
     terminate; (B) in the event of a Corporate Change referenced in Clauses
     (iii), (iv) and (v) require the mandatory surrender to the Corporation by
     selected Optionees of some or all of the outstanding Options held by such
     Optionees (irrespective of whether such Options are then exercisable under
     the provisions of the Plan) as of a date (before or after such Corporate
     Change) specified by the Board, in which event the Board shall thereupon
     cancel such Options and pay to each Optionee an amount of cash per share
     equal to the excess, if any, of the Change of Control Value of the shares
     subject to such Option over the exercise price(s) under such Options for
     such shares; (C) in the event of a Corporate Change referenced in Clauses
     (iii), (iv) and (v), make such adjustments to Options then outstanding as
     the Board deems appropriate to reflect such Corporate Change (provided,
     however, that the Board may determine in its sole discretion that no
     adjustment is necessary to Options then outstanding); (D) in the event of a

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     Corporate Change referenced in Clauses (iii), (iv) and (v), provide that
     thereafter upon any exercise of an Option theretofore granted the Optionee
     shall be entitled to purchase under such Option, in lieu of the number of
     shares of Common Stock as to which such Option shall then be exercisable,
     the number and class of shares of stock or other securities or property
     (including, without limitation, cash) to which the Optionee would have been
     entitled pursuant to the terms of the agreement of merger, consolidation or
     sale of assets or plan of liquidation and dissolution if, immediately prior
     to such merger, consolidation or sale of assets or any distribution in
     liquidation and dissolution of the Corporation, the Optionee had been the
     holder of record of the number of shares of Common Stock then covered by
     such Option; or (E) in the event of a Corporate Change referenced in
     Clauses (iii), (iv) and (v), cancel the Options granted if the Fair Market
     Value of the Common Stock underlying the Options is below the Option
     exercise price.

(f)  Except as hereinbefore expressly provided, issuance by the Corporation of
     shares of stock of any class or securities convertible into shares of stock
     of any class, for cash, property, labor or services, upon direct sale, upon
     the exercise of rights or warranty to subscribe therefore, or upon
     conversion of shares or obligations of the Corporation convertible into
     such shares or other securities, and in any case whether or not for fair
     value, shall not affect, and no adjustment by reason thereof shall be made
     with respect to, the number of shares of Common Stock subject to Options
     theretofore granted, or the purchase price per share of Common Stock
     subject to Options.

SECTION 9
AMENDMENT OR TERMINATION OF THE PLAN

The Board in its discretion may terminate the Plan or any Option or Grant or
alter or amend the Plan or any part thereof or any Option from time to time;
provided that no change in any Award or Grant previously made may be made which
would impair the rights of the Holder or Grantee without the consent of the
Holder or Grantee, and provided further, that the Board may not, without
approval of the stockholders, amend the Plan:

(a)      to increase the aggregate number of shares which may be issued pursuant
         to the provisions of the Plan on exercise or surrender of Options or
         upon Grants;

(b)      to change the minimum Option exercise price;

(c)      to change the class of employees eligible to receive Awards and/or
         Grants or increase materially the benefits accruing to employees under
         the Plan;

(d)      to extend the maximum period during which Awards may be granted or
         Grants may be made under the Plan;

(e)      to modify materially the requirements as to eligibility for
         participation in the Plan; or

(f)      to decrease any authority granted to the Board hereunder in
         contravention of Rule 16b-3.

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SECTION 10
OTHER

(a)  No Right to an Award or Grant. Neither the adoption of the Plan nor any
     action of the Board or Designated Officer shall be deemed to give an
     employee any right to be granted an Option to purchase Common Stock, to
     receive a Grant or to any other rights hereunder except as may be evidenced
     by an Option Agreement duly executed on behalf of the Corporation, and then
     only to the extent of and on the terms and conditions expressly set forth
     therein. The Plan shall be unfunded. The Corporation shall not be required
     to establish any special or separate fund or to make any other segregation
     of funds or assets to assure the payment of any Award or Grant.

(b)  No Employment Rights Conferred. Nothing contained in the Plan or in any
     Award or Grant made hereunder shall (i) confer upon any employee any right
     with respect to continuation of employment with the Corporation or any
     Parent Corporation or Subsidiary, or (ii) interfere in any way with the
     right of the Corporation or any Parent Corporation or Subsidiary to
     terminate his or her employment at any time.

(c)  Other Laws; Withholding. The Corporation shall not be obligated to issue
     any Common Stock pursuant to any Award granted or any Grant made under the
     Plan at any time when the offering of the shares covered by such Award has
     not been registered (or exempted) under the Securities Act of 1933 and such
     other state and federal laws, rules or regulations as the Corporation or
     the Board deems applicable and, in the opinion of legal counsel for the
     Corporation, there is no exemption from the registration requirements of
     such laws, rules or regulations available for the issuance and sale of such
     shares. No fractional shares of Common Stock shall be delivered, nor shall
     any cash in lieu of fractional shares be paid. The Corporation shall have
     the right to deduct in connection with all Awards or Grants any taxes
     required by law to be withheld and to require any payments necessary to
     enable it to satisfy its withholding obligations. The Board may permit the
     Holder of an Award or Grant to elect to surrender, or authorize the
     Corporation to withhold shares of Common Stock (valued at their Fair Market
     Value on the date of surrender or withholding of such shares) in
     satisfaction of the Corporation's withholding obligation, subject to such
     restrictions as the Board deems necessary to satisfy the requirements of
     Rule 16b-3.

(d)  No Restriction of Corporate Action. Nothing contained in the Plan shall be
     construed to prevent the Corporation or any Parent Corporation or
     Subsidiary from taking any corporate action which is deemed by the
     Corporation or such Parent Corporation or Subsidiary to be appropriate or
     in its best interest, whether or not such action would have an adverse
     effect on the Plan or any Award made under the Plan. No employee,
     beneficiary or other person shall have any claim against the Corporation or
     any Parent Corporation or Subsidiary as a result of such action.

(e)  Restrictions on Transfer. An Award shall not be transferable otherwise than
     by will or the laws of descent and distribution and shall be exercisable
     during the lifetime of the Holder only by such Holder or the Holder's
     guardian or legal representative.

                                       27
<PAGE>

(f)  Effect of Death, Disability or Termination of Employment. The Option
     Agreement or other written instrument evidencing an Award shall specify the
     effect of the death, disability or termination of employment of the Holder
     on the Award; provided, however that an Optionee shall be entitled to
     exercise (i) at least six (6) months from the date of termination of
     employment with the Corporation if such termination is caused by death or
     disability or (ii) at least thirty (30) days from the date of termination
     of employment with the Corporation if such termination is caused by reasons
     other than death or disability.

     All outstanding Incentive Stock Options will automatically be converted
     to a nonqualified stock option if the Optionee does not exercise the
     Incentive Stock Option (i) within three (3) months of the date of
     termination caused by reasons other than death or disability; or (ii)
     within twelve (12) months of the date of termination caused by
     disability.

(g)  Information to Employees. Optionees and Grantees under the Plan shall
     receive financial statements annually regarding the Corporation during the
     period the options are outstanding..

(h)  Rule 16b-3. It is intended that the Plan and any grant of an Award made to
     a person subject to Section 16 of the Exchange Act meet all of the
     requirements of Rule 16b-3. If any provisions of the Plan or any such Award
     would disqualify the Plan or such Award hereunder, or would otherwise not
     comply with Rule 16b-3, such provision or Award shall be construed or
     deemed amended to conform to Rule 16b-3.

(i)  Withholding and Use of Shares to Satisfy Tax Obligations. The obligation of
     the Company to deliver Common Stock or pay cash to an Optionee pursuant to
     any Option under the Plan shall be subject to applicable federal, state and
     local tax withholding requirements. In connection with an Option that is
     subject to the withholding requirements of applicable federal tax laws, the
     Board, in its discretion (and subject to such withholding rules
     ("Withholding Rules") as shall be adopted by the Board), may permit the
     Optionee to satisfy the minimum required federal, state and local
     withholding tax, in whole or in part, by electing to have the Company
     withhold (or by returning to the Company shares of Common Stock, which
     shares shall be valued, for this purpose, at their Fair Market Value on the
     date of exercise of the Option (or if later, the date on which the Optionee
     recognizes ordinary income with respect to such exercise) (the
     "Determination Date"). An election to use shares of Common Stock to satisfy
     tax withholding requirements must be made in compliance with and subject to
     the Withholding Rules. The Company may not withhold shares in excess of the
     number necessary to satisfy the minimum required federal, state and local
     income tax withholding requirements. In the event shares of Common Stock
     acquired under the exercise of an Incentive Stock Option are used to
     satisfy such withholding requirement, such shares of Common Stock must have
     been held by the Optionee for a period of not less than the holding period
     described in section 422(a)(1) of the Code on the Determination Date, or if
     such shares of Common Stock were acquired through exercise of an option not
     constituting an Incentive Stock Option or of an option under a similar
     plan, such option must have been granted to the Optionee at least six
     months prior to the Determination Date.

                                       28
<PAGE>

(j)  Registration of Shares. Each Option shall be subject to the requirement
     that, if at any time the Board shall determine, in its discretion, that the
     registration or qualification of the shares covered thereby under any state
     or federal law, or the consent or approval of any governmental regulatory
     body, is necessary as a condition of, or in connection with, the granting
     of such Option or the purchase or vesting of shares thereunder, or that
     action by the Company or by the Optionee should be taken in order to obtain
     an exemption from any such requirement, no such Option may be exercised, in
     whole or in part, unless and until such registration, qualification,
     consent, approval, or action shall have been effected, obtained or taken
     under conditions acceptable to the Board. Without limiting the generality
     of the foregoing, each Optionee or his or her legal representative or
     beneficiary may also be required to give satisfactory assurance that shares
     purchased upon exercise of an Option are being purchased for investment and
     not with a view to distribution, and certificates representing such shares
     may be legended accordingly.

(k)  Governing Law. The Plan shall by construed in accordance with the laws of
     the State of Massachusetts and all applicable federal law. The securities
     issued hereunder shall be governed by and in accordance with the Corporate
     Securities Laws of the State of Massachusetts.

ADOPTED BY INVESTORS CAPITAL HOLDINGS, LTD.'S BOARD OF DIRECTORS AS OF MAY 22,
2001 AND AMENDED JULY 29, 2004.

APPROVED BY THE SHAREHOLDERS AS OF AUGUST 1, 2001.

                                       29Geron Corporation

EXHIBIT 10.1

  

LEASE TERMINATION AND ADVANCE PAYMENT AGREEMENT

  

BY THIS AGREEMENT, dated as of March 23, 2004, GERON CORPORATION, a Delaware corporation with an office at 230 Constitution Drive, Menlo Park, CA 94025 (“Geron”), DAVID D. BOHANNON ORGANIZATION, a California corporation with an office at 60 Hillsdale Mall, San Mateo, CA 94403-3497 (“DDBO”) and BOHANNON DEVELOPMENT COMPANY, a California corporation with an office at 60 Hillsdale Mall, San Mateo, CA 94403-3497 (“BDC”), agree as follows: 

  

1.      Background.  Geron is the tenant and DDBO is the landlord under two real property leases (the “Leases”): a lease dated January 20, 1993 to the premises at 200 Constitution Drive, Menlo Park, California, as amended and extended (the “200 Lease”), a lease dated March 25, 1996 to the premises at 230 Constitution Drive, Menlo Park, California, as amended and extended (the “230 Lease”).  Geron is the tenant and BDC is the landlord under a lease dated March 7, 2000 to the premises at 255 Constitution Drive, Menlo Park, California, as amended (the “255 Lease”).  Each of the Leases requires Geron to pay the landlord monthly rent, in cash.  Geron wishes to make advance payments of rent on each of the Leases, using shares of Geron’s common stock. 

  

2.      Termination of 255 Lease.  Contemporaneously with the execution of this Agreement, Geron and BDC will execute a lease termination agreement (the “Termination Agreement”) in substantially the form of Exhibit A to this Agreement.  On or before the second business day after the day on which the Termination Agreement is executed,, Geron will pay in cash the rent for February and March 2004 as provided in the 255 Lease and issue to BDC or its designee shares of common stock with a value equal to $394,290 as provided in Section 4 below.  Upon such cash payment and issuance of such shares, the parties agree that Geron will have satisfied all its past, present and future obligations under the 255 Lease, and the 255 Lease shall be deemed terminated in
accordance with the terms of the Termination Agreement.

  

3.      Advance Payment of Rent.  On or before the second business day after the day on which this Agreement is executed, Geron will make an advance payment of the aggregate base rent under the 200 Lease and the 230 Lease for the period from February 1, 2004 through July 31, 2008 (the “Payment Period”) by issuing to DDBO or its designee shares of Geron’s common stock with a value equal to $3,051,950 as provided in Section 4 below.  Upon issuance of such shares, the parties agree that Geron will have fully satisfied its obligations with respect to base rent under Sections 2.1 and 2.2 of the 200 Lease and Section 2.1 of the 230 Lease for the Payment Period. 

  

4.      Number of Shares; Stock Purchase Agreement.  The number of shares to be transferred to BDC and DDBO pursuant to Sections 2 and 3 above (the “Shares”) will be calculated using the average of the closing prices on the Nasdaq National Market on the three trading days before the date on which the Shares are issued, and the Shares will be transferred upon execution of, and on the terms and conditions of, a Stock Purchase Agreement between Geron and BDC in substantially the form attached as Exhibit B and a Stock Purchase Agreement between Geron and DDBO in substantially the form attached as Exhibit C.   

  

5.      Leases Unchanged.  Except as explicitly stated in this Agreement, the 200 Lease and the 230 Lease are unchanged and in full force and effect. 

  

IN WITNESS WHEREOF, the parties hereto have executed this Advance Payment Agreement as of the date first above written. 

  

Geron Corporation

  

	
             
	
              
            /s/ David L. Greenwood                                    
 	
             
 
	
            By: 
 	
            David L. Greenwood 
 	
             

					

Executive Vice President and  

Chief Financial Officer 

  

David D. Bohannon Organization

  

	
             
	
              
            /s/ Robert L. Webster                                       
 	
             
 
	
            By: 
 	
              
 
	
            Title: 
 	
            Chairman 
 	
             

	  				

Bohannon Development Company

  

	
             
	
              
            /s/ Robert L. Webster                                       
 	
             
 
	
            By: 
 	
            Robert L. Webster 
 	
             

	
            Title: 
 	
            President and CEO 
 	
             

						

  

36  

EXHIBIT A

  

Lease Termination Agreement

  

AGREEMENT

THIS AGREEMENT is made this ____ day of ____________, 2004, by and between BOHANNON DEVELOPMENT COMPANY, a California corporation ("Landlord"), GERON CORPORATION, a Delaware corporation ("Tenant"), and Theme Party Productions, Ltd., a California corporation (“Sublessee”). 

RECITALS:

A.              Landlord and IPRINT.COM. Inc., as tenant entered into a lease ("Lease") dated March 7, 2000, for certain demised premises located at 255 Constitution Drive, Menlo Park, California, as more particularly described in the Lease. 

B.           Tenant acquired its interest in the Lease pursuant to a First Amendment to Lease and Assignment and Assumption of Lease (the “First Amendment”) dated December 7, 2001 by and between Landlord, Tenant and IPRINT Technologies, Inc.  The Lease, as amended by the First Amendment, is herein collectively referred to as the “Lease”. 

C.           Pursuant to a Sublease Agreement dated May 1, 2003 (the “Sublease”) by and between Tenant and Sublessee, Tenant sublet a portion of the demised premises.  Landlord consented to the Sublease pursuant to a Consent of Master Landlord (the “Consent”) dated March 7, 2003, by and between Landlord as Master Landlord, Tenant as Sublessor and Sublessee. 

D.          The Lease is scheduled to expire on April 30, 2005.  Landlord and Tenant now desire to arrange for the early termination of the Lease as of March 31, 2004. 

E.           Landlord and Sublessee desire that the Sublease shall remain in effect and Sublessee shall attorn to Landlord pursuant to the provisions of the Consent. 

NOW, THEREFORE, in consideration of the foregoing, as an inducement to Tenant to surrender the Premises and Landlord to accept such surrender, Tenant, Landlord and Sublessee agree as follows: 

1.            Tenant will vacate the Premises and surrender possession thereof to Landlord as of March 31, 2004 (the “Termination Date”), and will leave the Premises in the condition called for in the Lease. 

2.            Effective on the Termination Date, the above-referenced Lease between Landlord and Tenant shall be, and is hereby, deemed automatically terminated as if the term thereof had expired with the efflux of time.  Thereafter, except as hereinbelow provided, neither party shall have any further obligations to the other under said Lease, except that nothing herein shall be construed to relieve Tenant of its obligation to pay all rents and charges due and owing under the Lease which have accrued up to the Termination Date. 

37  

3.            In consideration of Landlord’s agreeing to the early termination of the Lease, Tenant agrees to pay to Landlord amounts owing pursuant to the Lease Termination and Advance Payment Agreement between Landlord and Tenant of even date herewith. 

4.            Tenant hereby warrants and represents to Landlord that except for the Sublease nothing has been done or suffered by Tenant whereby the Lease, the Premises or the estate of Tenant in and to said Premises or any part thereof, have been encumbered in any way whatsoever; the Tenant has good right to surrender the same; and that no one other than Tenant (except for Sublessee) has acquired through or under Tenant any right, title or interest in and to the Lease or the term and estate thereby granted or in and to all or any part of the Premises covered by the Lease including, without limitation, all alterations, installations, additions, and improvements in and to said Premises except for the Sublease. 

5.            This termination shall not release any party hereto from liability or obligation under the agreement hereby terminated, whether of indemnity or otherwise, resulting from any acts, omissions or events happening prior to this termination, or thereafter in case by the terms of said agreement it is provided that anything shall or may be done after termination thereof; and Tenant specifically confirms and agrees that its indemnities under the Lease will remain fully in force with respect to any such acts, omissions or events. 

6.            Landlord and Sublessee agree that the Sublease shall remain in effect, subject to the provisions of the Lease, which will remain in effect as to Sublessee notwithstanding the termination thereof, except for Base Rent and the computation of Additional Rent which shall be as modified by the Sublessee, all pursuant to the provisions of Paragraph 7 of the Consent. 

7.            Sublessee agrees to recognize and attorn to Landlord as the Landlord under the Sublease and agrees to make all payments due under the terms of the Sublease accruing from and after April 1, 2004 directly to Landlord. 

8.            Sublessee and Tenant warrant and represent to Landlord that there is no default by either party under the Sublease, nor has any event occurred which with the passage of time would be a default, and that the Sublease is in full force and effect and has not been amended or modified in any respect. 

9.            Upon execution of this Agreement, Tenant will remit to Landlord any and all security deposits under the Sublease and any rent paid by Sublessee for any period after March 31, 2004. 

  

38  

  

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first hereinabove written. 

  

	
            (Tenant) 
 	
            (Landlord) 
 	
             

	
            GERON CORPORATION, 
 	
            BOHANNON DEVELOPMENT COMPANY, 
 
	
            a Delaware corporation 
 	
            a California corporation 
 	
             

	 	 		
	By:   /s/ David L. Greenwood             
           	By:     /s/ Robert L. Webster                   
		      
          President
		 	 
		 	
		 By:        /s/ Ernst Lotti Jr.                            

                 Secretary

  

(Sublessee) 

  

THEME PARTY PRODUCTIONS, LTD., 

a California corporation 

  

	
            By:   /s/ Jill Bank                                          
 
	
             
	
            President 
 	
             

			

  

39  

  

EXHIBIT B

  

BDC Stock Purchase Agreement

  

COMMON STOCK PURCHASE AGREEMENT

  

THIS COMMON STOCK PURCHASE AGREEMENT (the “Agreement”) is made and entered into as of March 23, 2004 by and between Geron Corporation, a Delaware corporation having its principal place of business at 230 Constitution Drive, Menlo Park, California 94025 (the “Company”), and Bohannon Development Company, a California corporation having an office at 60 Hillsdale Mall, San Mateo, CA 94403-3497 (the “Acquirer”). 

  

		
A.
	
            The Company has agreed to issue, and the Acquirer has agreed to accept, shares of the Company’s common stock, par value $.001 per share (the “Common Stock”) to Acquirer in payment of the Company’s rent obligations for the period from April 1, 2004 through April 30, 2005 under a lease dated March 7, 2000 to the premises at 255 Constitution Drive, Menlo Park, California, as amended ( the “Lease”).

  

		
B.
	
            The Acquirer and the Company desire to specify the terms and conditions of the Company’s issuance of such common stock.

  

THE PARTIES AGREE AS FOLLOWS: 

  

1.          ISSUANCE OF SHARES; PURCHASE PRICE.  The Acquirer hereby acquires and the Company hereby issues to Acquirer 46,902 shares (the “Shares”) of Common Stock in consideration of the premises conveyed pursuant to the Lease.  Upon issuance and delivery of the certificate(s) for the Shares, all Shares shall be duly authorized and validly issued and represent fully paid shares of the Company’s Common Stock.   

  

	
            2. 
 	
            CLOSING; DELIVERY

             
 

		
2.1.
	
            The consummation of the transaction contemplated by this Agreement (a “Closing”) shall be held at such time and place as is mutually agreed upon between the parties (the “Closing Date”).  At the Closing, the Company shall deliver to the Acquirer one or more certificates representing all of the Shares, which Shares shall be issued in the name of the Acquirer or its designee and in such denominations as the Acquirer shall specify.

  

		
2.2.
	
            The Company’s obligations to issue and deliver the stock certificate(s) representing the Shares to the Acquirer at the Closing shall be subject to the following conditions, which may be waived by the Company:

  

		
2.2.1.
	
            the covenants and obligations that the Acquirer is required to perform or to comply with pursuant to this Agreement, at or prior to the Closing, must have been duly performed and complied with in all material respects; and

  

		
2.2.2.
	
            the representations and warranties made by the Acquirer herein shall be true and correct in all material respects as of the Closing Date.

  

		
2.3.
	
            The Acquirer’s obligation to accept delivery of the stock certificate(s) representing the Shares at the Closing shall be subject to the following conditions, any one or more of which may be waived by the Acquirer:

  

40  

  

		
2.3.1.
	
            the covenants and obligations that the Company is required to perform or to comply with pursuant to this Agreement, at or prior to the Closing, must have been duly performed and complied with in all material respects;

  

		
2.3.2.
	
            The Company shall have available under its Certificate of Incorporation sufficient authorized shares of Common Stock to issue the Shares to the Acquirer; and

  

		
2.3.3.
	
            the representation and warranties made by the Company herein shall be true and correct in all material respects as of any Closing Date.

  

	
            3. 
 	
            RESTRICTIONS ON RESALE OF SHARES.

             
 

		
3.1.
	
            Legends.  The Acquirer understands and acknowledges that the Shares are not registered under the Securities Act of 1933 (the “Act”) and that under the Act and other applicable laws the Acquirer may be required to hold such Shares for an indefinite period of time.  Each stock certificate representing Shares shall bear the following legends:

  

		
3.1.1.
	
             “THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”).  ANY TRANSFER OF SUCH SECURITIES SHALL BE INVALID UNLESS A REGISTRATION STATEMENT UNDER THE ACT IS IN EFFECT AS TO SUCH TRANSFER OR, IN THE OPINION OF COUNSEL REASONABLY ACCEPTABLE TO THE COMPANY, SUCH REGISTRATION IS UNNECESSARY FOR SUCH TRANSFER TO COMPLY WITH THE ACT.  THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO THE TERMS OF THE COMMON STOCK PURCHASE AGREEMENT, DATED AS OF March 23, 2004.  A COPY OF THE AGREEMENT CAN BE OBTAINED FROM THE SECRETARY OF THE COMPANY.”

  

		
3.2.
	
            Limits on Sales.  The Acquirer agrees that if it decides to resell some or all of the Shares, it will do so only in an appropriate manner based upon whether the shares are registered or unregistered, i.e., on the Nasdaq National Market or in a Rule 144A compliant transaction.  Subject to the foregoing restrictions, the Acquirer may sell or resell the Shares in any lot size, or at any volume, desired by the Acquirer.

  

	
            4. 
 	
            REGISTRATION RIGHTS

             
 

		
4.1.
	
            The Company agrees to file with the Securities and Exchange Commission (“Commission”), as promptly as practicable and in any event within twenty (20) days after the execution of this Agreement by both parties, a registration statement under the Act (the “Registration Statement”), on Form S-3 or other appropriate form, so as to permit a non-underwritten public offering and resale of the Shares under the Act by the Acquirer.  The Company agrees to diligently pursue making that registration statement effective.  The Company will notify the Acquirer of the effectiveness of the Registration Statement within one business day of receiving notice from the Commission.  

  

		
4.2.
	
            The Company will maintain the Registration Statement or post-effective amendment filed under this Section 3 effective under the Act until the earliest of (i) the date that none of the Shares covered by such Registration Statement are or may become issued and outstanding, (ii) the date that all of the Shares have been sold pursuant to such Registration Statement, (iii) the date the Acquirer receives an opinion of counsel to the
            Company, which counsel shall be reasonably acceptable to the Acquirer, that the Shares may be sold under the provisions of Rule 144 without limitation as to volume, (iv) the date that all Shares have been otherwise transferred to persons who may trade such shares without restriction under the Act, and the Company has delivered a new certificate or
            other evidence of ownership for such securities not bearing a restrictive legend, or (v) the date all Shares may be sold at any time, without volume or manner of sale limitations pursuant to Rule 144(k) or any similar provision then in effect under the Act in the opinion of counsel to the Company, which counsel shall be reasonably acceptable to the Acquirer (the “Effectiveness Period”). 

  

41  

  

 

		
4.3.
	
            All fees, disbursements and out-of-pocket expenses and costs incurred by the Company in connection with the preparation and filing of the Registration Statement under Section 3.1 and in complying with applicable securities and Blue Sky laws (including, without limitation, all attorneys' fees of the Company) shall be borne by the Company.  The Acquirer shall bear the cost of underwriting and/or brokerage discounts, fees and commissions, if any, applicable to the Shares being registered and the fees and expenses of their counsel. The Company at its expense will supply the Acquirer with copies of the applicable Registration Statement and the prospectus included therein and other related documents in such quantities as may be
reasonably requested by the Acquirer.

  

		
4.4.
	
            The Acquirer will cooperate with the Company in all respects in connection with this Agreement, including timely supplying all information reasonably requested by the Company (which shall include all information regarding the Acquirer and proposed manner of sale of the Shares required to be disclosed in any Registration Statement) and executing and returning all documents reasonably requested in connection with the registration and sale of the Shares and entering into and performing their obligations under any underwriting agreement, if the offering is an underwritten offering, in usual and customary form, with the managing underwriter or underwriters of such underwritten offering.  Nothing in this Agreement shall obligate
the Acquirer to consent to be named as an underwriter in any Registration Statement. 

  

	
            5. 
 	
            REPRESENTATIONS AND ACKNOWLEDGEMENT OF THE COMPANY.   

             
 

The Company hereby represents, warrants and covenants to the Acquirer as follow: 

  

		
5.1.
	
            Organization, Good Standing and Qualification.  The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted and as presently proposed to be conducted.  The Company is duly qualified to transact business and is in good standing as a foreign corporation in each jurisdiction in which the failure to so qualify would have a material adverse effect on its business or properties.

  

		
5.2.
	
            Authorization.  All corporate action on the party of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Agreement, the performance of all obligations of the Company hereunder and the authorization, issuance and delivery of the Shares has been taken or will be taken prior to the Closing, and this Agreement, when executed and delivered will constitute valid and legally binding obligations of the Company, enforceable against the Company in accordance with their terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and other laws of general application affecting enforcement of
creditors’ rights generally, as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies.

  

		
5.3.
	
            Valid Issuance of Common Stock.  The Shares, when issued, sold and delivered in accordance with the terms hereof for the consideration expressed herein, will be duly and validly authorized and issued, fully paid and nonassessable and free of restrictions on transfer other than restrictions on transfer under this Agreement and applicable state and federal securities laws.

  

42  

  

  

		
5.4.
	
            Legal Proceedings and Orders.  There is no action, suit, proceeding or investigation pending or threatened against the Company that questions the validity of this Agreement or the right of the Company to enter into this Agreement or to consummate this transactions contemplated hereby, nor is the Company aware of any basis for any of the forgoing.  The Company is neither a party nor subject to the provisions of any order, writ, injunction, judgment or decree of any court or government agency or instrumentality that would affect the ability of the Company to enter into this Agreement or to consummate the transactions contemplated hereby.

  

		
5.5.
	
            Form S-3 Eligibility.  As of the date of this Agreement, the Company meets the requirements for the use of Form S-3 for registration of the resale by the Acquirer of the Shares, and it will use its commercially reasonable efforts to continue to meet such requirements during the period in which it takes to have the Registration Statement declared effective.

  

	
            6. 
 	
            REPRESENTATIONS AND ACKNOWLEDGMENTS OF THE ACQUIRER.   

             
 

The Acquirer hereby represents, warrants, acknowledges and agrees that: 

  

		
6.1.
	
            Investment.  The Acquirer is acquiring the Shares for the Acquirer’s own account, and not directly or indirectly for the account of any other person.  The Acquirer is acquiring the Shares for investment and not with a view to distribution or resale thereof except in compliance with the Act and any applicable state law regulating securities.  If the Acquirer decides to resell some or all of the Shares, it will use a broker satisfactory to the Company, and cause or instruct the broker to sell in an orderly manner, limiting sales to lot-size and volumes consistent with normal trading levels in the Company's stock.

  

		
6.2.
	
            Access to Information.  Acquirer has consulted with its own attorney, accountant, or investment advisor as the Acquirer has deemed advisable with respect to the investment and has determined its suitability for Acquirer.  The Acquirer has had the opportunity to ask questions of, and to receive answers from, appropriate executive officers of the Company with respect to the terms and conditions of the transactions contemplated hereby and with respect to the business, affairs, financial condition and results of operations of the Company.  The Acquirer has had access to such financial and other information as is necessary in order for the Acquirer to make a fully informed decision as to investment in
the Company, and has had the opportunity to obtain any additional information necessary to verify any of such information to which the Acquirer has had access.  Acquirer acknowledges that neither the Company nor any of its officers, directors, employees, agents, representatives, or advisors have made any representation or warranty.

  

		
6.3.
	
            Business and Financial Expertise.  The Acquirer further represents and warrants that it has such business or financial expertise as to be able to evaluate its investment in the Company and purchase of the Shares.  

  

		
6.4.
	
            Speculative Investment.  The Acquirer acknowledges that the investment in the Company represented by the Shares is highly speculative in nature and is subject to a high degree of risk of loss in whole or in part; the amount of such investment is within the Acquirer’s risk capital means and is not so great in relation to the Acquirer’s total financial resources as would jeopardize the personal financial needs of the Acquirer in the event such investment were lost in whole or in part.

  

		
6.5. 
 	
            Unregistered Securities.  Acquirer acknowledges that: 
 

  

43  

  

		
6.5.1.
	
            The Acquirer must bear the economic risk of investment for an indefinite period of time because the Shares have not been registered under the Act and therefore cannot and will not be sold unless they are subsequently registered under the Act or an exemption from such registration is available.  The Company has made no agreements, covenants or undertakings whatsoever to register any of the Shares under the Act, except as provided in Section 3 above.  The Company has made no representations, warranties or covenants whatsoever as to whether any exemption from the Act, including, without limitation, any exemption for limited sales in routine brokers’ transactions pursuant to Rule 144 under the Act, will become
available and any such exemption pursuant to Rule 144, if available at all, will not be available unless:  (i) a public trading market then exists in the Company’s common stock, (ii) the Company has complied with the information requirements of Rule 144, and (iii) all other terms and conditions of Rule 144 have been satisfied.

  

		
6.5.2.
	
            Transfer of the Shares has not been registered or qualified under any applicable state law regulating securities and, therefore, the Shares cannot and will not be sold unless they are subsequently registered or qualified under any such act or an exemption therefrom is available.  The Company has made no agreements, covenants or undertakings whatsoever to register or qualify any of the Shares under any such act.  The Company has made no representations, warranties or covenants whatsoever as to whether any exemption from any such act will become available.

  

		
6.5.3.
	
            The Acquirer hereby certifies that it is an “accredited investor” as that term is defined in Rule 501 under the Act.

  

7.                TAX ADVICE.  The Acquirer acknowledges that the Acquirer has not relied and will not rely upon the Company or the Company’s counsel with respect to any tax consequences related to the ownership, purchase, or disposition of the shares.  The Acquirer assumes full responsibility for all such consequences and for the preparation and filing of all tax returns and elections which may or must be filed in connection with such shares.   

  

8.                NOTICES.  Any notice or other communication required or permitted hereunder shall be in writing and shall be deemed to have been duly given on the date of service if served personally or five days, not including Saturdays, Sundays, or national holidays, after mailing if mailed by first class United States mail, certified or registered with return receipt requested, postage prepaid, and addressed as follows: 

  

	
            To the Company at: 
 	
            Geron Corporation 
 	
             

	
             
	
            230 Constitution Drive 
 	
             

	
             
	
            Menlo Park, California  94025 
 	
             

	
             
	
            Attention: Chief Financial Officer 
 
	
             
	
            Telephone: 
 	
            (650) 473-7700 
 	
             

	
             
	
            Facsimile: 
 	
            (650) 473-7750 
 	
             

		       					

	
            To the Acquirer at: 
 	
            Bohannon Development Company 
 
	
             
	
            60 Hillsdale Mall 
 	
             

	
             
	
            San Mateo, CA 94403-3497 

 	
             

	
             
	
            Attention: Chief Financial Officer 
 	
             

	
             
	
            Telephone: 
 	
            (650) 345-8222 
 	
             

	
             
	
            Facsimile: 
 	
            (650) 573-5457 
 	
             

							

  

9.                BINDING EFFECT.  This Agreement shall be binding upon the heirs, legal representatives and successors of the Company and of the Acquirer; provided, however, that the Acquirer may not assign any rights or obligations under this Agreement.  The Company’s rights under this Agreement shall be freely assignable. 

  

44  

  

  

10.             ATTORNEYS’ FEES.  If any action or proceeding or arbitration is commenced by either party to enforce its rights under this Agreement or to collect damages as a result of the breach of any of the provisions of this Agreement, the prevailing party in such action or proceeding or arbitration, including any bankruptcy, insolvency or appellate proceedings, shall be entitled to recover all reasonable out-of-pocket costs and expenses, including, without limitation, reasonable attorneys’ fees and court costs, in addition to any other relief awarded by the court or arbitrator. 

  

11.             GOVERNING LAW.  This Agreement shall be governed by and construed in accordance with the laws of the State of California, United States of America. 

  

12.             ENTIRE AGREEMENT.  This Agreement, together with the Lease, constitutes the entire agreement of the parties pertaining to the Shares and supersedes all prior and contemporaneous agreements, representations, and understandings of the parties. 

  

IN WITNESS WHEREOF, the parties hereto have executed this Stock Purchase Agreement as of the date first above written. 

  

	
                 GERON CORPORATION 
 

  

	
             
	
               
            /s/ David L. Greenwood                                  
 	
              
 	
             

	
                
            By: 
 	
            David L. Greenwood 
 	
             

	
                
            Title: 
 	
            Executive Vice President and Chief Financial Officer 
 
						

  

	
                
            BOHANNON DEVELOPMENT COMPANY 
 

  

	
             
	
               
            /s/ Robert L. Webster                                    
 	
              
 
	
               
            By: 
 	
             

	
               
            Title: 
 	
            Chairman 
 	
             

						

  

45  

  

EXHIBIT C

  

DDBO Stock Purchase Agreement

  

COMMON STOCK PURCHASE AGREEMENT

  

THIS COMMON STOCK PURCHASE AGREEMENT (the “Agreement”) is made and entered into as of March 23, 2004 by and between Geron Corporation, a Delaware corporation having its principal place of business at 230 Constitution Drive, Menlo Park, California 94025 (the “Company”), and David D. Bohannon Organization, a California corporation having an office at 60 Hillsdale Mall, San Mateo, CA 94403-3497 (the “Acquirer”). 

  

		
A.
	
            The Company has agreed to issue, and the Acquirer has agreed to accept, shares of the Company’s common stock, par value $.001 per share (the “Common Stock”) to Acquirer in payment of the Company’s rent obligations for the period from February 1, 2004 through July 31, 2008 under a lease dated January 20, 1993 to the premises at 200 Constitution Drive, Menlo Park, California, as amended and extended, and a lease dated March 25, 1996 to the premises at 230 Constitution Drive, Menlo Park, California, as amended and extended (collectively, the “Leases”).

  

		
B.
	
            The Acquirer and the Company desire to specify the terms and conditions of the Company’s issuance of such common stock.

  

THE PARTIES AGREE AS FOLLOWS: 

  

1.           ISSUANCE OF SHARES; PURCHASE PRICE.  The Acquirer hereby acquires and the Company hereby issues to Acquirer 363,039 shares (the “Shares”) of Common Stock in consideration of the premises conveyed pursuant to the Leases.  Upon issuance and delivery of the certificate(s) for the Shares, all Shares shall be duly authorized and validly issued and represent fully paid shares of the Company’s Common Stock.   

  

	
            2. 
 	
            CLOSING; DELIVERY

              
 

		
2.1.
	
            The consummation of the transaction contemplated by this Agreement (a “Closing”) shall be held at such time and place as is mutually agreed upon between the parties (the “Closing Date”).  At the Closing, the Company shall deliver to the Acquirer one or more certificates representing all of the Shares, which Shares shall be issued in the name of the Acquirer or its designee and in such denominations as the Acquirer shall specify.

  

		
2.2.
	
            The Company’s obligations to issue and deliver the stock certificate(s) representing the Shares to the Acquirer at the Closing shall be subject to the following conditions, which may be waived by the Company:

  

		
2.2.1.
	
            the covenants and obligations that the Acquirer is required to perform or to comply with pursuant to this Agreement, at or prior to the Closing, must have been duly performed and complied with in all material respects; and

  

		
2.2.2.
	
            the representations and warranties made by the Acquirer herein shall be true and correct in all material respects as of the Closing Date.

  

		
2.3.
	
            The Acquirer’s obligation to accept delivery of the stock certificate(s) representing the Shares at the Closing shall be subject to the following conditions, any one or more of which may be waived by the Acquirer:

  

		
2.3.1.
	
            the covenants and obligations that the Company is required to perform or to comply with pursuant to this Agreement, at or prior to the Closing, must have been duly performed and complied with in all material respects;

  

1  

  

		
2.3.2.
	
            The Company shall have available under its Certificate of Incorporation sufficient authorized shares of Common Stock to issue the Shares to the Acquirer; and

  

		
2.3.3.
	
            the representation and warranties made by the Company herein shall be true and correct in all material respects as of any Closing Date.

  

	
            3. 
 	
            RESTRICTIONS ON RESALE OF SHARES. 

             
 

		
3.1.
	
            Legends.  The Acquirer understands and acknowledges that the Shares are not registered under the Securities Act of 1933 (the “Act”) and that under the Act and other applicable laws the Acquirer may be required to hold such Shares for an indefinite period of time.  Each stock certificate representing Shares shall bear the following legends:

  

		
3.1.1.
	
            “THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”).  ANY TRANSFER OF SUCH SECURITIES SHALL BE INVALID UNLESS A REGISTRATION STATEMENT UNDER THE ACT IS IN EFFECT AS TO SUCH TRANSFER OR, IN THE OPINION OF COUNSEL REASONABLY ACCEPTABLE TO THE COMPANY, SUCH REGISTRATION IS UNNECESSARY FOR SUCH TRANSFER TO COMPLY WITH THE ACT.  THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO THE TERMS OF THE COMMON STOCK PURCHASE AGREEMENT, DATED AS OF March 23, 2004.  A COPY OF THE AGREEMENT CAN BE OBTAINED FROM THE SECRETARY OF THE COMPANY.”

  

		
3.2.
	
            Limits on Sales.  The Acquirer agrees that if it decides to resell some or all of the Shares, it will do so only in an appropriate manner based upon whether the shares are registered or unregistered, i.e., on the Nasdaq National Market or in a Rule 144A compliant transaction.  Subject to the foregoing restrictions, the Acquirer may sell or resell the Shares in any lot size, or at any volume, desired by the Acquirer.

  

	
            4. 
 	
            REGISTRATION RIGHTS

             
 

		
4.1.
	
            The Company agrees to file with the Securities and Exchange Commission (“Commission”), as promptly as practicable and in any event within twenty (20) days after the execution of this Agreement by both parties, a registration statement under the Act (the “Registration Statement”), on Form S-3 or other appropriate form, so as to permit a non-underwritten public offering and resale of the Shares under the Act by the Acquirer.  The Company agrees to diligently pursue making that registration statement effective.  The Company will notify the Acquirer of the effectiveness of the Registration Statement within one business day of receiving notice from the Commission.  

  

		
4.2.
	
            The Company will maintain the Registration Statement or post-effective amendment filed under this Section 3 effective under the Act until the earliest of (i) the date that none of the Shares covered by such Registration Statement are or may become issued and outstanding, (ii) the date that all of the Shares have been sold pursuant to such Registration Statement, (iii) the date the Acquirer receives an opinion of counsel to the Company, which counsel shall be reasonably acceptable to the Acquirer, that the Shares may be sold under the provisions of Rule 144 without limitation as to volume, (iv) the date that all Shares have been otherwise transferred to persons who may trade such shares without restriction under the Act,
and the Company has delivered a new certificate or other evidence of ownership for such securities not bearing a restrictive legend,
            or (v) the date all Shares may be sold at any time, without volume or manner of sale limitations pursuant to Rule 144(k) or any similar provision then in effect under the Act in the opinion of counsel to the Company, which counsel shall be reasonably acceptable to the Acquirer (the “Effectiveness Period”). 

  

2  

  

		
4.3.
	
            All fees, disbursements and out-of-pocket expenses and costs incurred by the Company in connection with the preparation and filing of the Registration Statement under Section 3.1 and in complying with applicable securities and Blue Sky laws (including, without limitation, all attorneys' fees of the Company) shall be borne by the Company.  The Acquirer shall bear the cost of underwriting and/or brokerage discounts, fees and commissions, if any, applicable to the Shares being registered and the fees and expenses of their counsel. The Company at its expense will supply the Acquirer with copies of the applicable Registration Statement and the prospectus included therein and other related documents in such quantities as may be
reasonably requested by the Acquirer.

  

		
4.4.
	
            The Acquirer will cooperate with the Company in all respects in connection with this Agreement, including timely supplying all information reasonably requested by the Company (which shall include all information regarding the Acquirer and proposed manner of sale of the Shares required to be disclosed in any Registration Statement) and executing and returning all documents reasonably requested in connection with the registration and sale of the Shares and entering into and performing their obligations under any underwriting agreement, if the offering is an underwritten offering, in usual and customary form, with the managing underwriter or underwriters of such underwritten offering.  Nothing in this Agreement shall obligate
the Acquirer to consent to be named as an underwriter in any Registration Statement. 

  

	
            5. 
 	
            REPRESENTATIONS AND ACKNOWLEDGEMENT OF THE COMPANY.  

             
 

The Company hereby represents, warrants and covenants to the Acquirer as follow: 

  

		
5.1.
	
            Organization, Good Standing and Qualification.  The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted and as presently proposed to be conducted.  The Company is duly qualified to transact business and is in good standing as a foreign corporation in each jurisdiction in which the failure to so qualify would have a material adverse effect on its business or properties.

  

		
5.2.
	
            Authorization.  All corporate action on the party of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Agreement, the performance of all obligations of the Company hereunder and the authorization, issuance and delivery of the Shares has been taken or will be taken prior to the Closing, and this Agreement, when executed and delivered will constitute valid and legally binding obligations of the Company, enforceable against the Company in accordance with their terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and other laws of general application affecting enforcement of
creditors’ rights generally, as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies.

  

		
5.3.
	
            Valid Issuance of Common Stock.  The Shares, when issued, sold and delivered in accordance with the terms hereof for the consideration expressed herein, will be duly and validly authorized and issued, fully paid and nonassessable and free of restrictions on transfer other than restrictions on transfer under this Agreement and applicable state and federal securities laws.

  

		
5.4.
	
            Legal Proceedings and Orders.  There is no action, suit, proceeding or investigation pending or threatened against the Company that questions the validity of this Agreement or the right of the Company to enter into this Agreement or to consummate this transactions contemplated hereby, nor is the Company aware of any basis for any of the forgoing.  The Company is neither a party
            nor subject to the provisions of any order, writ, injunction, judgment or decree of any court or government agency or instrumentality that would affect the ability of the Company to enter into this Agreement or to consummate the transactions contemplated hereby. 

  

		
5.5.
	
            Form S-3 Eligibility.  As of the date of this Agreement, the Company meets the requirements for the use of Form S-3 for registration of the resale by the Acquirer of the Shares, and it will use its
            commercially reasonable efforts to continue to meet such requirements during the period in which it takes to have the Registration Statement declared effective. 

  

3  

  

	
            6. 
 	
            REPRESENTATIONS AND ACKNOWLEDGMENTS OF THE ACQUIRER.   

             
 

The Acquirer hereby represents, warrants, acknowledges and agrees that: 

  

		
6.1.
	
            Investment.  The Acquirer is acquiring the Shares for the Acquirer’s own account, and not directly or indirectly for the account of any other person.  The Acquirer is acquiring the Shares for investment and not with a view to distribution or resale thereof except in compliance with the Act and any applicable state law regulating securities.  If the Acquirer decides to resell some or all of the Shares, it will use a broker satisfactory to the Company, and cause or instruct the broker to sell in an orderly manner, limiting sales to lot-size and volumes consistent with normal trading levels in the Company's stock.

  

		
6.2.
	
            Access to Information.  Acquirer has consulted with its own attorney, accountant, or investment advisor as the Acquirer has deemed advisable with respect to the investment and has determined its suitability for Acquirer.  The Acquirer has had the opportunity to ask questions of, and to receive answers from, appropriate executive officers of the Company with respect to the terms and conditions of the transactions contemplated hereby and with respect to the business, affairs, financial condition and results of operations of the Company.  The Acquirer has had access to such financial and other information as is necessary in order for the Acquirer to make a fully informed decision as to investment in
the Company, and has had the opportunity to obtain any additional information necessary to verify any of such information to which the Acquirer has had access.  Acquirer acknowledges that neither the Company nor any of its officers, directors, employees, agents, representatives, or advisors have made any representation or warranty.

  

		
6.3.
	
            Business and Financial Expertise.  The Acquirer further represents and warrants that it has such business or financial expertise as to be able to evaluate its investment in the Company and purchase of the Shares.  

  

		
6.4.
	
             Speculative Investment.  The Acquirer acknowledges that the investment in the Company represented by the Shares is highly speculative in nature and is subject to a high degree of risk of loss in whole or in part; the amount of such investment is within the Acquirer’s risk capital means and is not so great in relation to the Acquirer’s total financial resources as would jeopardize the personal financial needs of the Acquirer in the event such investment were lost in whole or in part.

  

		
6.5. 

             
 	
            Unregistered Securities.  Acquirer acknowledges that: 
 

		
6.5.1.
	
            The Acquirer must bear the economic risk of investment for an indefinite period of time because the Shares have not been registered under the Act and therefore cannot and will not be sold unless they are subsequently registered under the Act or an exemption from such registration is available.  The Company has made no agreements, covenants or undertakings whatsoever to register any of the Shares under the Act, except as provided in Section 3 above.  The Company has made no representations, warranties or covenants whatsoever as to whether any exemption from the Act, including, without limitation, any exemption for limited sales in routine brokers’ transactions pursuant to Rule 144 under the Act, will become
available and any such exemption pursuant to Rule 144, if available at all, will not be available unless:  (i) a public trading market then exists in the
            Company’s common stock, (ii) the Company has complied with the information requirements of Rule 144, and (iii) all other terms and conditions of Rule 144 have been satisfied. 

  

		
6.5.2.
	
            Transfer of the Shares has not been registered or qualified under any applicable state law regulating securities and, therefore, the Shares cannot and will not be sold unless they are subsequently registered or qualified under any such act or an exemption therefrom is
            available. The Company has made no agreements, covenants or
            undertakings whatsoever to register or qualify any of the Shares
            under any such act. The Company has made no representations,
            warranties or covenants whatsoever as to whether any exemption from
            any such act will become available. 

 

4  

  

		
6.5.3.
	
            The Acquirer hereby certifies that it is an “accredited investor” as that term is defined in Rule 501 under the Act.

  

7.                TAX ADVICE.  The Acquirer acknowledges that the Acquirer has not relied and will not rely upon the Company or the Company’s counsel with respect to any tax consequences related to the ownership, purchase, or disposition of the shares.  The Acquirer assumes full responsibility for all such consequences and for the preparation and filing of all tax returns and elections which may or must be filed in connection with such shares.   

  

8.                NOTICES.  Any notice or other communication required or permitted hereunder shall be in writing and shall be deemed to have been duly given on the date of service if served personally or five days, not including Saturdays, Sundays, or national holidays, after mailing if mailed by first class United States mail, certified or registered with return receipt requested, postage prepaid, and addressed as follows: 

  

	
            To the Company at: 
 	
            Geron Corporation 
 	
             

	
             
	
            230 Constitution Drive 
 	
             

	
             
	
            Menlo Park, California  94025 
 	
             

	
             
	
            Attention: Chief Financial Officer 
 
	
             
	
            Telephone: 
 	
            (650) 473-7700 
 	
             

	
             
	
            Facsimile: 
 	
            (650) 473-7750 
 	
             

		    					

	
            To the Acquirer at: 
 	
            David D. Bohannon Organization 
 	
             

	
             
	
            60 Hillsdale Mall 
 	
             

	
             
	
            San Mateo, CA 94403-3497 
 	
             

	
             
	
            Attention: Chief Financial Officer 
 
	
             
	
            Telephone: 
 	
            (650) 345-8222 
 	
             

	
             
	
            Facsimile: 
 	
            (650) 573-5457 
 	
             

							

 

9.                BINDING EFFECT.  This Agreement shall be binding upon the heirs, legal representatives and successors of the Company and of the Acquirer; provided, however, that the Acquirer may not assign any rights or obligations under this Agreement.  The Company’s rights under this Agreement shall be freely assignable. 

  

10.             ATTORNEYS’ FEES.  If any action or proceeding or arbitration is commenced by either party to enforce its rights under this Agreement or to collect damages as a result of the breach of any of the provisions of this Agreement, the prevailing party in such action or proceeding or arbitration, including any bankruptcy, insolvency or appellate proceedings, shall be entitled to recover all reasonable out-of-pocket costs and expenses, including, without limitation, reasonable attorneys’ fees and court costs, in addition to any other relief awarded by the court or arbitrator. 

  

11.             GOVERNING LAW.  This Agreement shall be governed by and construed in accordance with the laws of the State of California, United States of America. 

  

12.             ENTIRE AGREEMENT.  This Agreement, together with the Leases, constitutes the entire agreement of the parties pertaining to the Shares and supersedes all prior and contemporaneous agreements, representations, and understandings of the parties. 

  

5  

  

  

IN WITNESS WHEREOF, the parties hereto have executed this Stock Purchase Agreement as of the date first above written. 

  

	
            GERON CORPORATION 
 

  

	
             
	
            /s/ David L. Greenwood
 	
              
 	
             

	
            By: 
 	
            David L. Greenwood 
 	
             

	
            Title: 
 	
            Executive Vice President and Chief Financial Officer 
 
						
	  					

	
            DAVID D. BOHANNON ORGANIZATION 
 

  

	
             
	
            /s/ Robert L. Webster
 	
              
 
	
            By: 
 	
            Robert L. Webster 
 	
             

	
            Title: 
 	
            President and CEO 
 	
             

						

  

6

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