Document:

Trademark License Agreement - dated July 1, 1995

 Exhibit 10.33 
 TRADEMARK LICENSE AGREEMENT 
 THIS AGREEMENT is entered into on this 1st day of July, 1995 between
THE DIAL CORP (“Dial”), a Delaware corporation, with its principal offices at 1850 North Central Avenue, Phoenix, Arizona, and CONAGRA, INC. (“ConAgra”), a Delaware corporation, with its principal offices at One ConAgra Drive,
Omaha, Nebraska. 
 WITNESSETH 
 WHEREAS, ConAgra entered into a licensing agreement with Armour-Dial, Inc., Dial’s predecessor-in-interest, on or about December 18, 1983 (“1983 LICENSING AGREEMENT”); and 
 WHEREAS, in that 1983 LICENSING AGREEMENT, ConAgra granted Dial limited rights to use the trademarks ARMOUR, STAR, ARMOUR STAR, ARMOUR’S, ARMOUR
(Logo type design), and BANNER on certain shelf-stable products specified in Exhibit B to the 1983 LICENSING AGREEMENT; and 
 WHEREAS,
ConAgra filed suit against Dial for breach of contract and trademark infringement, Case No. 8:CV 93-00339 in the United States District Spurt for the District of Nebraska which suit was dismissed without preiudice in contemplation of execution
of this AGREEMENT; and 
 WHEREAS the parties desire to enter into this Agreement to set forth their rights and obligations with respect to
the TRADEMARKS (as hereinafter defined), cancelling and superseding the 1983 LICENSE AGREEMENT. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements hereinafter contained, it is agreed as follows: 
 DEFINITIONS 
 a. NET SALES: In
this Agreement, the term NET SALES shall mean the number obtained by subtracting cash discounts and product returns and allowances (excluding trade allowances) from Dial’s gross sales of SHELF-STABLE PRODUCTS (as hereinafter defined).

 b. ROYALTY: In this Agreement, the term ROYALTY shall refer to the amount owed to ConAgra by Dial, as calculated according to
Section 2 below. 

 c. SHELF-STABLE PRODUCTS: 
 (i) Subject to the provisions hereinbelow, in this Agreement, the term “SHELF-STABLE PRODUCTS” shall mean any and all food products sold under
or in connection with the TRADEMARKS which under normal conditions do not need to be refrigerated, cooled, or frozen while being transported, inventoried, warehoused, stored, distributed and/or sold. 
 (ii) The term SHELF-STABLE PRODUCTS shall not include any of the food products sold under or in connection with the TRADEMARKS as of the date of this
Agreement that need to be refrigerated, cooled, or frozen to be transported, inventoried, warehoused, stored, distributed and/or sold (a list of all such products is set forth in Schedule C.1 hereto and includes a product description for each
complete with the respective SKU or UPC for each) regardless of whether future technological developments make it possible to transport, inventory, warehouse, store, distribute and/or sell these products without being refrigerated, cooled, or
frozen. 
 (iii) The term SHELF-STABLE PRODUCTS shall also exclude products commonly referred to as “Fresh”, such as fruit and
vegetables. 
 (iv) The term SHELF-STABLE PRODUCTS includes all processed meat products which fall within Paragraph c.(i) above excepting,
however, the particular dry sausage products sold by ConAgra or its affiliates under or in connection with the TRADEMARKS as of the date of this Agreement (a list of all such products is set forth in Schedule C.2 hereto and includes a product
description for each complete with the respective SKU or UPC for each). The parties understand and agree that the dry sausage products set forth in Schedule C.2 are not licensed to Dial, but that all other processed meat products which fit the
definition of SHELF-STABLE PRODUCTS herein (for example meat sticks and jerky snacks) are licensed hereunder to Dial. 
 d. TERRITORY:
In this Agreement, the term TERRITORY shall refer to the United States of America. 
 e. TRADEMARKS: In this Agreement, the term
TRADEMARKS shall mean the trademarks and/or trade names ARMOUR, STAR, ARMOUR STAR, ARMOUR’S, ARMOUR (logotype design), and BANNER. The term TRADEMARKS shall also include trademarks incorporating any of the foregoing (e.g., ARMOUR FARMS
and CAPTAIN ARMOUR) but only if ConAgra, in the exercise of its discretion, specifically approves of those new trademarks in writing. 
  

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 GRANT OF LICENSE 
 Upon the terms and conditions hereinafter set forth, ConAgra hereby grants to Dial and Dial hereby accepts from ConAgra the sole and exclusive right to use, in any lawful manner whatsoever, the TRADEMARKS but solely
in connection with the SHELF-STABLE PRODUCTS in the TERRITORY. 
 The parties agree and understand that, except as provided in this
Agreement, ConAgra reserves all rights with respect to the TRADEMARKS not expressly granted herein including but not limited to the exclusive right to utilize and/or license the TRADEMARKS in connection with the manufacture and/or sale of any
product that is not a SHELF-STABLE PRODUCT. 
 Nothing herein shall be construed as granting to Dial any right to use the TRADEMARKS for
restaurant services. The foregoing shall not be construed to limit in any manner, Dial’s channels of distribution of SHELF-STABLE PRODUCTS. 
 ROYALTIES 
 In consideration of the rights granted herein to Dial, Dial shall pay to ConAgra the following suits as ROYALTY:

 (a) The sum of five hundred thousand dollars ($500,000.00) which shall be payable as follows: (i) one hundred twenty-five thousand
dollars ($125,000.00) upon the execution of this Agreement and (ii) fifteen (15) equal quarterly installments of twenty-five thousand dollars ($25,000.00) each, payable as follows: July 1, 1995; October 1,
1995; January 1, 1996; April 1, 1996; July 1, 1996; October 1, 1996; January 1, 1997; April 1, 1997; July 1, 1997; October 1, 1997; and January 1,
1998; April 1, 1998; July 1, 1998; October 1, 1998; January 1, 1999. 
 (b) In addition to the
amounts to be paid under Paragraph 2(a) above, during the period commencing effective January 1, 1995 through December 31, 1998, Dial shall pay to ConAgra a percentage royalty based upon annual NET SALES of SHELF-STABLE PRODUCTS sold as
follows: 
  

			
	 For Annual NET SALES of
 SHELF-STABLE PRODUCTS of:
	  	 The Percentage of
 Annual NET SALES is:

	 0 - $200,000,000
	  	0%
	 $200,000,001 - $300,000,000
	  	.5%
	 $300,000,001 - $500,000,000
	  	1%
	 Over $500,000,001
	  	1.5%

  

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 For example, if, for the period ending December 31, 1996, Dial’s annual NET SALES are $275,000,000, Dial’s
percentage royalty under Section 2(b) would be $375,000. Another example would be if Dial’s annual NET SALES are $325,000,000, Dial’s percentage royalty under Section 2(b) would be $750,000. 
 (c) In addition to the amounts to be paid under Paragraph 2(a) above, for all calendar year periods from and after January 1, 1999, during the term
of this Agreement, Dial shall pay to ConAgra the greater of (i) two hundred fifty thousand dollars ($250,000.00) annually; or a percentage royalty based upon annual NET SALES of SHELF-STABLE PRODUCTS as follows: 
  

			
	 For Annual NET SALES of
 SHELF-STABLE PRODUCTS of:
	  	 The Percentage of
 Annual NET SALES is:

	 0 - $200,000,000
	  	0%
	 $200,000,001 - $300,000,000
	  	.7%
	 Over $300,000,001
	  	1.25%

 In no event shall annual royalties under Section 2(c) exceed two million dollars
($2,000,000). 
 (d) All sums due pursuant to Paragraphs 2(b) and (c) above shall be paid on or before May 1 of each year for the
previous calendar year. Along with said payment, Dial shall provide ConAgra with a final statement, certified as complete and accurate, of annual NET SALES with respect to the prior calendar year. 
 3. ASSIGNMENT 
 (a) Except as
otherwise provided herein, and so long as ConAgra does nothing to conflict with or restrict the licensed rights granted to Dial herein, ConAgra may sell, assign, license, encumber or otherwise transfer (“Assign” or “Assignment”)
this Agreement and the TRADEMARKS without restriction, provided that, with respect to an Assignment of this Agreement, the assignee assumes, in writing, the terms and conditions of this Agreement and all duties and obligations of the licensor
hereunder. 
 (1) Dial shall have a right of first refusal to purchase the rights to the TRADEMARKS and associated goodwill if, and only if,
ConAgra is assigning the rights to only the TRADEMARKS and associated goodwill, and the assignment is not part of a merger, sale, or other transaction in which assets other than the TRADEMARKS and associated goodwill are also being transferred.
Prior to assigning the TRADEMARKS and associated goodwill (if ConAgra is only assigning the TRADEMARKS and 
  

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 associated goodwill and no other assets as noted above), ConAgra will first offer to sell the TRADEMARKS and associated
goodwill to Dial upon the same terms and conditions as ConAgra had proposed with the third party. Dial will have twenty (20) days from its receipt of the written offer to accept such offer. If Dial does not accept such offer, ConAgra may
thereafter assign the TRADEMARKS and associated goodwill to the third party. 
 (2) Dial shall not have a right of first refusal to purchase
the rights to the TRADEMARKS and associated goodwill if ConAgra is assigning the rights to the TRADEMARKS and associated goodwill as part of a merger, sale of assets, or any other transaction in which assets other than the TRADEMARKS and associated
goodwill are also being transferred. 
 (b) Except in connection with the sale or transfer of Dial’s entire Armour business, Dial may
not assign, by operation of law or otherwise, any of its rights, duties or obligations under this Agreement to any party such third party is hereinafter referred to as an “Assignee”), without the prior written consent of ConAgra, which
consent will not be unreasonably withheld. Any such Assignee must assume all of the terms, covenants and conditions of this Agreement and all of the duties and obligations of the licensee hereunder. 
 (c) In determining the reasonableness of withholding consent to an Assignment, the parties agree that it shall not be deemed unreasonable for ConAgra to
consider (i) whether the Assignee (or its affiliates) competes with the business of ConAgra, and (ii) the financial solvency of the Assignee. The consent of ConAgra, to an Assignment shall not constitute a consent to any subsequent
Assignment by Dial or to any subsequent or successive Assignment by the Assignee. 
 (d) Any Assignment in violation of this Agreement shall
be void and a material breach of this Agreement. 
 4. BOOKS AND RECORDS 
 Dial covenants to keep and maintain accurate books and records of transactions affecting the SHELF-STABLE PRODUCTS and the ROYALTY relating thereto. Books
and records for each year shall be retained for a total of three years following the close of each such year. ConAgra shall have reasonable access to the books and records of accounts of those transactions involving the sales of the SHELF-STABLE
PRODUCTS in order to determine and/or clarify the amount of sales and the ROYALTY due ConAgra. If after such analysis it is determined that Dial has understated the ROYALTY due ConAgra, then Dial shall pay the shortage within ten (10) business
days following receipt of written notice and supporting substantiation of the understated ROYALTY. ConAgra 
  

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 agrees that it will not seek access to Dial’s books and records more than one time each in any twelve
(12) month period and then only during regular business hours at the location at which such books and records are regularly or actually maintained. 
 RELATIONSHIP BETWEEN PARTIES 
 Nothing contained in this Agreement shall be construed to place the
parties in the relationship of legal representatives, partners, joint venturers, agents or fiduciaries, and no party shall take any action nor incur any debts, obligations or liabilities in the name of the other. 
 6. INDEMNIFICATION AND LIMITATION OF LIABILITY 
 (a) Dial agrees to indemnify and hold ConAgra and ConAgra’s officers, directors, employees, shareholders, affiliates and agents harmless from any claim, suit, loss, damage, demand or expense, or cause of action
or claim of any third party (collectively, a “Claim”), arising from or relating to (i) the inaccuracy or breach, as applicable, of any representation, covenant or warranty made by Dial in this Agreement or (ii) Dial’s
manufacture, production, distribution, sale, marketing and/or advertising of the SHELF-STABLE PRODUCTS or use of the TRADEMARKS. 
 (b)
ConAgra agrees to indemnify and hold Dial and Dial’s officers, directors, employees, shareholders, affiliates and agents harmless from any claim, suit, loss, damage, demand or expense, or cause of action or claim of any third party
(collectively, a “Claim”) arising from or relating to (i) the inaccuracy or breach, as applicable, of any representation, covenant or warranty made by ConAgra in this Agreement or (ii) ConAgra’s use of the TRADEMARKS in
connection with products or services other than the SHELF-STABLE PRODUCTS. 
 THE TRADEMARKS, OWNERSHIP, USE, INFRINGEMENT 

(a) Subject to Section 7(b) below, ConAgra shall retain the full and complete ownership of the TRADEMARKS, including all goodwill associated
therewith, subject only to the specific rights granted to Dial pursuant to this Agreement. All goodwill arising from Dial’s use of the TRADEMARKS will inure solely to the benefit of ConAgra. Dial shall cooperate if ConAgra registers, files or
prosecutes, at ConAgra’s expense, any application that ConAgra may desire to file for TRADEMARKS, and, for that purpose, Dial shall supply ConAgra with such samples, containers, labels and similar materials as may be reasonably requested by
ConAgra. 
  

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 (b) If Dial incorporates new terms or matter (collectively hereinafter “NEW MATTER”) with any
of the TRADEMARKS to create new trademarks that receive ConAgra’s approval for Dial’s use under this Agreement, then at the time of ConAgra’s approval, Dial and ConAgra shall agree in writing as to the ownership rights of the NEW
MATTER. The parties understand that the intent of this paragraph is to recognize Dial’s ownership interest in and to NEW MATTER which is developed independently of ConAgra while ensuring that as between Dial and ConAgra, ConAgra retains the
full, complete, sole and exclusive ownership interest in and to the TRADEMARKS. 
 (c) The SHELF-STABLE PRODUCTS shall be sold on an
exclusive basis by Dial within the TERRITORY and may bear the TRADEMARKS as they exist as of the date of this Agreement or as they may from time to time be changed, modified or altered by ConAgra during the term of this Agreement. Nothing set forth
herein shall limit or affect the right of ConAgra to modify or change the TRADEMARKS; however, ConAgra agrees that Dial’s form and manner of use of the TRADEMARKS as of the date of this Agreement or as may be approved by ConAgra from time to
time, may continue. 
 (d) Each party shall promptly notify the other party in writing of any known or suspected infringements, imitations,
or unauthorized uses of the TRADEMARKS by third parties. ConAgra in the first instance shall have the right and discretion to institute actions against third parties for infringement of the TRADEMARKS. ConAgra shall have the right to control any
such action instituted by it, including employment of counsel selected by ConAgra. Dial shall cooperate with ConAgra, at ConAgra’s expense, in connection with any such action instituted by ConAgra. ConAgra may not without Dial’s written
consent, enter into any settlement agreement, stipulated judgment or the like that would restrict or limit in any manner the rights granted to Dial in this Agreement. 
 If any such litigation instituted by ConAgra for infringement of the TRADEMARKS does not relate to allegedly infringing use in respect of SHELF-STABLE PRODUCTS, then ConAgra shall bear all expenses of such litigation
and shall be entitled to all monetary recoveries, if any, as a result of such action. If any such litigation instituted by ConAgra for infringement of the TRADEMARKS does relate to an allegedly infringing use in respect of SHELF-STABLE PRODUCTS,
then ConAgra shall give Dial the opportunity to pay one-half of all expenses of such litigation, including attorney’s fees, and to be entitled thereby to receive one-half of all monetary recoveries, if any, as a result of such action.

  

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 If ConAgra declines to institute an action against a third party for infringement of the TRADEMARKS with
respect to the SHELF-STABLE PRODUCTS, then Dial shall have the right and discretion to bring such an action. Dial shall bear all expenses of such litigation and shall be entitled to all monetary recoveries, if any, as a result of such action.

 8. REPRESENTATIONS AND COVENANTS OF DIAL 
 (a) Subject to the provisions of Section 7, Dial recognizes ConAgra’s exclusive right, title and interest in the TRADEMARKS and agrees that it will not, at any time, do or cause to be done any act or thing
impairing or tending to impair any part of ConAgra’s right, title and interest therein, and agrees that it will not directly or indirectly, during the term of this Agreement or thereafter, attack or contest ConAgra’s title to, or its
rights to use, said TRADEMARKS consistent with the terms of this Agreement, nor will it seek to register the TRADEMARKS in the TERRITORY. 
 (b) Dial agrees that it will not use said TRADEMARKS in the TERRITORY expect in connection with the SHELF-STABLE PRODUCTS manufactured and marketed pursuant to this Agreement and only in accordance with the terms and provisions hereof. In
this connection, Dial shall cause to appear on all containers, packaging, labels, advertising and promotional material used in connection with the SHELF-STABLE PRODUCTS, such legends, markings and notices as may reasonably be required by ConAgra or
as may be required by applicable laws. (For example, Dial shall place a proper notice as required by applicable law immediately following the mark indicating that the mark is registered in the U.S. Patent and Trademark Office. Proper notice shall
consist of “e” or “Registered U.S. Patent and TRADEMARKS Office” or “Reg. U.S.
Pat. & TM off.” Whenever using marks that are not registered with the U.S. Patent and Trademark Office, Dial shall use in association therewith a “TM” or other accepted designation or statement of trademark or service mark
status.) 
 9. REPRESENTATIONS AND COVENANTS OF CONAGRA 
 (a) ConAgra represents that (i) it has the right to enter into this Agreement, (ii) to the best of its knowledge, the TRADEMARKS are owned by ConAgra free from liens and encumbrances, (iii) no other
rights, licenses or authorizations to use said TRADEMARKS, within the TERRITORY, in connection with SHELF-STABLE PRODUCTS have been granted by it to any third party, and (iv) there is no claim by any third party to the right to use the
TRADEMARKS which conflicts with the rights granted Dial hereunder. 
  

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 (b) ConAgra warrants that during the term of this Agreement it will not (i) grant to any third party
any license, sublicense, right or privilege with respect to the TRADEMARKS which conflicts with the rights granted in this Agreement, or (ii) use for itself or its own account, the TRADEMARKS in respect of SHELF-STABLE PRODUCTS in the
TERRITORY. Nothing herein shall be construed as in any way restricting or limiting ConAgra from producing and/or marketing competitive SHELF-STABLE PRODUCTS under any trademark other than the TRADEMARKS. 
 10. REQUIRED APPROVALS 
 (a)
Product Approvals. Prior to (i) manufacturing a new SHELF-STABLE PRODUCT for general distribution and sale or (ii) making a material change to the Finished Product Specifications (as said capitalized term is described hereinbelow)
of any SHELF-STABLE PRODUCT previously approved by ConAgra, Dial shall obtain the approval of ConAgra, which approval shall not be unreasonably withheld, in accordance with the provisions set forth herein. Contemporaneously herewith, Dial has
furnished to ConAgra a copy of all Finished Product Specifications for the SHELF-STABLE PRODUCTS sold as of the date of the execution of this License Agreement (a list of all such products is set forth in Schedule 10(a) hereto and includes a product
description for each complete with the respective SKU or UPC for each), all of which are hereby approved. In order to obtain approval for modifications to the foregoing or for new SHELF-STABLE PRODUCTS, Dial shall deliver a written description of
the finished product including the Finished Product Specifications in the format substantially identical to the Exhibit D product specifications used in connection with the 1983 LICENSING AGREEMENT and, as appropriate, a written specification of any
proposed change in the said specifications for such product to ConAgra, along with a specific request for approval (together, the “Product Request”). If requested by ConAgra, Dial shall also provide a product sample. Product Requests shall
be delivered in accordance with the terms of Section 10(e) below, and may be mailed using first class, registered, certified or overnight mail service. If delivered by first class mail, receipt by ConAgra shall be presumed on the fifth business
day following posting. 
 If within fifteen (15) days from the date ConAgra receives such Product Request it does not approve the
Product Request in writing, it shall be presumptively deemed that ConAgra has approved the Product Request. Any objection by ConAgra to a Product Request shall be in writing, sent to Dial within fifteen (15) days from the date ConAgra receives
such Product Request and shall include the reason(s) for ConAgra’s objection, and shall 
  

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 include, as appropriate, suggestions for modifications or changes which, if adopted, would render the proposed product
acceptable to ConAgra. When time is of the essence and Dial so notes on the Product Request, then ConAgra’s suggestions for modifications or changes may be deemed approval of a modified or changed version or form of product that is consistent
with the suggestions made by ConAgra. Otherwise each version or form of product shall be resubmitted as a new Product Request pursuant to the provisions of this Section 10(a), and, in no event shall Dial offer a product for sale or distribution
unless it has received the prior written approval of ConAgra or ConAgra has failed to object within the time frame described in this Section 10(a) with respect to that particular version or form of product. 
 Notwithstanding the foregoing, ConAgra recognizes that by the very nature of the mass production process there may be a variance in weight, quality and
quantity, etc. reasonably occurring in the mass production of the new or modified product, and so long as these variances, or other variances caused by Dial, are minor and do not adversely affect the overall quality of the product, and so long as
there are no material changes made to the approved products, they shall not require the further acceptance or approval of ConAgra. 
 (b)
Packaging and Advertising Approvals. ConAgra shall have the right to approve, which approval shall not be unreasonably withheld, the labels, packaging, advertising and promotional materials of Dial relating to the SHELF-STABLE PRODUCTS and
TRADEMARKS licensed hereunder. ConAgra is aware of such labels, packaging, advertising and promotional materials used by Dial at the execution of this License Agreement and such are hereby deemed approved. All future labels, packaging, advertising
or promotional materials which constitute a material departure from those used at execution of this License Agreement, shall be submitted to ConAgra for a approval prior to use thereof as set forth herein. Prior to the use of (i) any packaging,
or labels with respect to a new or modified product (“Packaging”), (ii) any new consumer or trade advertisement with respect to the SHELF-STABLE PRODUCTS (collectively referred to as “Advertisements”) or (iii) any
material change or modification to previously approved Packaging or Advertisements, Dial shall obtain the approval of ConAgra as set forth herein. In order to obtain such approval, Dial shall submit a sample of such Packaging or Advertisements,
along with a specific request for approval (together, the “P&A Request”). P&A Requests shall be delivered in accordance with the terms of Section 10(e) below, and may be mailed using first class, registered, certified or
overnight mail service. If delivered by first class mail, receipt by ConAgra shall be presumed on the fifth business day following posting. 
  

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 If within fifteen (15) days from the date ConAgra receives such P&A Request ConAgra does not
approve the P&A Request in writing, it shall be presumptively deemed that conAgra has approved the Packaging and Advertisements. Any objection by ConAgra to a P&A Request shall be in writing, sent to Dial within fifteen (15) days from
the date conAgra receives such P&A Request, and the written objection shall contain, among other things, the reason for such objection and shall include, as appropriate, suggestions for modifications or changes which if implemented would then
meet with its approval. When time is of the essence for Dial, and Dial so notes on the P&A Request, then ConAgra’s suggestions for modifications or change may be deemed approval of a modified or changed version or form of Packaging or
Advertisements that is consistent with the suggestions made by ConAgra’s. Otherwise, each version of form of packaging or Advertisements that shall be resubmitted as a new P&A Request pursuant to the provisions of this section 10(b), and
Dial shall not use or distribute any Packaging or Advertisements for SHELF-STABLE PRODUCTS unless it has recived prior written approval form ConAgra or ConAgra has failed to object within the time frame described in this Section 10(b) with respect
to that particular version or form of Packaging or Advertisement. 
 Notwithstanding the forgoing, ConAgra recognizes that because of the
inherent nature of the SHELF-STABLE PRODUCTS certain minor aspects of the Packaging or Advertisements may from time to time be at variances with the original Packaging or Advertisements as approved; i.e., the photograph of the product contained
within the package, and statements of changed ingredients, size and weight approved or deemed approved pursuant to this Agreement, and such minor variations shall not require the prior approval of ConAgra in each instance. Further, once any
Packaging of Advertisements has been approved, so long as there are no material changes made to the approved materials, they shall not require the further acceptance or approval of ConAgra. 
 (c) The approval process set forth above shall not create any duty or responsibility of ConAgra with respect to a SHELF-STABLE PRODUCT or its
manufacture, sale, distribution, promotion or advertising and shall not in any way limit or restrict the rights of ConAgra under the Agreement. 
 (d) In addition to reasonable quality standards established by ConAgra, Dial shall, at a minimum, comply with all applicable governmental laws and regulations and obtain all government license or approvals pertaining to the advertising,
sale, packaging, distribution or manufacturing of the SHELF-STABLE PRODUCTS. 
  

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 (e) Unless Dial is otherwise directed by ConAgra in writing, all notices, samples, and requests for
approval provided by Dial to ConAgra pursuant to this Section 10 shall be delivered to the Vice-President of Marketing of Armour Swift-Eokrich Processed Meats Co., 2001 Butterfield Road, Downers Grove, Illinois 60515-1049. Written approval from
ConAgra shall be signed by, and Dial may not reply on approval from any official other than, the Vice-President of Marketing or his/her designated successor or his/her superior. 
 (f) Failure of ConAgra to object to a breach by Dial of any provision contained in this Section 10 shall not act in any way to estop or prevent
subsequent enforcement by ConAgra of such provision, nor shall failure to object be deemed a waiver of any subsequent breach. 
 11.
TERM 
 Subject to the termination provisions set out below and unless the parties agree in writing otherwise to a shorter term, the
rights and obligations set out in this Agreement shall extend in perpetuity, provided, however, that Dial may terminate this Agreement at any time effective one hundred eighty (180) days after giving ConAgra written notice of Such termination.

 12. DEFAULT 
 In the
event of any material default by any party in the performance of any of the terms and conditions of this Agreement, ConAgra or Dial, as the case may be, may terminate this Agreement or seek other appropriate relief, including damages, on
(i) ten (10) days advance written notice (weekends and holidays excluded) if the defaults is the failure to make the payments set forth in section 2 hereof and ((i) thirty (30) days advance written notice of all other breaches,
subject however to the right of the party against whom the default is claimed to cure any default within such ten (10) days and thirty (30) day periods, respectively, in which event this Agreement shall remain in full force and effect. If
any default (other than a monetary default pursuant to clause (i) hereof) requires more than thirty (30) days to cure, such party may take additional time to cure such defaults and no default shall be claimed or taken hereunder during such
period, provided that such party is at all times during such additional period acting with the utmost urgency and is exercising its best efforts to cure any such default. The parties hereby agree that time is of the essence with respect to foregoing
sentence. 
  

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 13. RIGHTS UPON TERMINATION 
 Upon the termination of this Agreement, unless otherwise provided herein, any and all rights of Dial to use the TRADEMARKS shall automatically cease. Dial
shall promptly cease all use of the TRADEMARKS and manufacturing and marketing of the SHELF-STABLE PRODUCTS, and will not adopt or use any word or mark which is confusingly similar to the TRADEMARKS, except that it shall have six (6) months
from the date of termination to use existing inventory of packaging materials for the SHELF-STABLE PRODUCTS (providing such existing inventory of packaging materials complies with the terms of this Agreement) and shall have twelve (12) months
from the date of termination to sell out existing finished goods inventory of SHELF-STABLE PRODUCTS (providing such existing finished goods inventory complies with the terms of this Agreement). If, at any time during said twelve (12) month
period, Dial is willing to sell all, or substantially all, of the remaining inventory of the SHELF-STABLE PRODUCTS to a single purchaser or group of related purchasers, Dial shall advise ConAgra of the identity of the prospective purchasers and the
price and terms of the proposed sale, and ConAgra shall have the right of first refusal to buy the remaining inventory at that price and on those terms. Nothing herein set forth shall be deemed to affect the right of ConAgra to the ROYALTY as
provided in Section 2 hereof. Any ROYALTY earned, but unpaid, at the end of fifteen (15) months after termination, shall be paid to ConAgra within thirty (30) days thereafter. Notwithstanding anything to the contrary provided herein,
the provisions of Section 6 (Indemnification) shall survive the termination of this Agreement. 
 14. AMENDMENTS 
 This Agreement may not be amended or modified except in a writing signed by the party against whom enforcement of such change is sought. 
 15. NOTICE 
 All notices required or
permitted to be given by this Agreement shall be in writing and sent by registered or certified all return receipt requested, and shall be addressed to the party to whom it is to be served at the address of such parties stated below. If either party
changes his address, a written notice thereof shall be given to the other party in accordance with this Section. 
  

			
	If to Dial:                	  	The Dial Corp
		  	1850 North Central Avenue
		  	Phoenix, AZ 85077
		  	Attn: Vice President – Foods

  

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	Copy to:	  	The Dial Corp
		  	1850 North Central Avenue
		  	Phoenix, AZ 85077
		  	Attn: Trademark Counsel
		
	If to ConAgra:	  	ConAgra, Inc.
		  	One ConAgra Drive
		  	Omaha, Nebraska 68102
		  	Attention: Controller
		
	Copy to:	  	John P. Passarelli
		  	McGrath, North, Mullin
		  	& Kratz, P.C.
		  	1400 One Central Park Plaza
		  	Omaha, Nebraska 68102

 16. CHOICE OF LAW 
 This Agreement shall be deemed to have been made and shall be interpreted, and the rights and liabilities of the parties hereto determined, in accordance
with the laws of the State of Nebraska applicable to agreements made and to be performed solely in such State. 
 17. DISPUTE
RESOLUTION 
 Any and all disputes related to or arising out of the provisions of paragraph 10 of this Agreement relating to approval of
product reformulations, new products and Packaging or Advertising will be resolved by submission to binding arbitration pursuant to the then existing rules and regulations of the American Arbitration Association (“AAA”) Commercial
Arbitration Rules or, if the parties agree, to such other alternative dispute resolution organization as the parties shall agree. The arbitration shall take place in Phoenix, Arizona, if ConAgra initiates the arbitration process, and it shall take
place in Omaha, Nebraska, if Dial initiates the arbitration process. The aggrieved party will initiate arbitration by sending written notice of an intention to arbitrate by registered or certified mail to the other party and to AAA (or other
alternative dispute resolution organization). The notice must contain a description of the dispute, the amount involved, and the remedy sought. 
  

 14 

 The arbitration shall be conducted by a three (3) person panel, with ConAgra and Dial each selecting
one (1) member of the panel, and the third member selected by such two panel members (such two panel members hereafter referred to as “the Affiliate Panel Members”), unless either Dial or ConAgra desires the parties’ joint direct
selection of the third panel member. 
 If either Dial or ConAgra desires the parties’ joint direct selection of the third panel member,
the parties’ direct selection of the third arbitrator shall be in accord with Rule 13 of the AAA Commercial Arbitration Rules as amended and effective on November 1, 1993 (set forth in its entirety in Schedule 17) hereto, subject only to
the following exception: in the event the parties fail to agree on any of the persons named on the lists submitted by the AAA, or if acceptable arbitrators are unable to act, or if for any other reason appointment cannot be made from the submitted
lists in timely manner as specified in this Section 17, the last sentence of Rule 13 shall be disregarded by the parties, and the third arbitration panel member shall be selected by the Affiliate Panel Members. 
 ConAgra and Dial shall select their respective arbitrators within fifteen (15) days of receipt by a party of the written notice to arbitrate. The
third arbitrator shall be selected if by the Affiliate Panel Members without the parties having invoked the Rule 13 selection process, within ten (10) days following selection of the Affiliate Panel Members; or, if jointly selected directly by
the parties pursuant to the Rule 13 selection process, within twenty five (25) days following receipt by a party of the written notice to arbitrate (or within such additional time thereafter as both parties mutually agree to allow for
completion of the Rule 13 selection process). At the expiration of the given twenty five (25) day period, if the Rule 13 selection process is not complete and the parties do not mutually agree to the additional time needed to complete the Rule
13 selection process, then the Affiliate Panel Members shall select the third arbitrator within ten (10) days thereafter. The arbitration shall commence within sixty (60) days of the selection of the arbitration panel and the decision of
the arbitration panel shall be delivered, in writing, within thirty (30) days from the commencement of the arbitration proceedings. 
 The arbitration panel shall have the right to assess penalties against a party that delays the arbitration, grant of the arbitration panel may be entered in any court of applicable jurisdiction and shall be a final and binding judgment.

 The arbitration panel shall have the right to require the party that does not prevail to pay all of the reasonable costs of the
arbitration and all reasonable attorney fees and costs of the other party. 
  

 15 

 20. CONFIDENTIALITY 
 In connection with the parties’ performances hereunder, each party to this Agreement may be required to disclose to the other party documentation or other business information (hereinafter
“Information”) which the disclosing party considers confidential. Such Information may include, but not be limited to information related to product development and formulation, product introductions, production information, financial
information, accounting information, marketing information, reports, forecasts, predictions or projections relating to the foregoing or other business information. This includes the information required to be disclosed by Dial to ConAgra pursuant to
Section 10 hereof. It is specifically understood and agreed that all Information shall be considered confidential whether it has been developed internally and maintained as confidential information by the disclosing party, or whether it has
been received by the disclosing party subject to a continuing obligation to maintain the confidentiality of the Information, or for other reasons. With respect to Information provided under this Agreement, the party to whom the Information is
disclosed, its employees, and employees of its affiliated companies, shall: 
 (a) hold the Information in confidence and protect it in
accordance with the security regulations by which it protects its own proprietary or confidential information which it does not wish to disclose; 
 (b) restrict disclosure of the Information solely to those persons who have a need to know such Information solely for the purposes intended under this Agreement and who have been informed of their obligations not to disclose it to any
other party; 
 (c) use the Information only in connection with the performance of its obligations and responsibilities and enforcement of
its rights herein, except as otherwise may be agreed upon in writing. 
 The party to whom Information is disclosed shall have no obligation
to preserve the confidential nature of any Information which: 
 (aa) was previously known to it free of any obligation to keep it
confidential; or 
 (bb) is disclosed to third parties by the disclosing party without restriction; or 
 (cc) is or becomes publicly available by other than unauthorized disclosure; or 
  

 16 

 (dd) is independently developed by it as can be substantiated in writing; or 
 (ee) is legally required to be disclosed; provided however, that prior to making any disclosure required by law, the party under compulsion to make the
disclosure must first provide the other party with the earliest possible notice of such required disclosure to allow such part the opportunity to secure appropriate protective measures. 
 19. GENERAL CONDITION 
 (a) This
Agreement constitutes the entire agreement between the parties with respect to the TRADEMARKS and cancels and supersedes the 1983 LICENSE AGREEMENT. Each party has been represented by counsel of its own choosing in connection with the negotiation of
this Agreement. No representation, warranty or promise pertaining to this Agreement or transaction has been made by or shall be binding upon either of the parties, except as expressly stated in this Agreement. 
 (b) This Agreement shall inure to the benefit of and shall bind the respective parties, their permitted successors and assigns, and their parents,
subsidiaries and affiliates. 
 (c) If any portion of this Agreement shall be held to be unenforceable or illegal, such portion of this
Agreement shall be deemed cancelled, but such cancellation shall not affect any of the other terms, conditions or provisions of this Agreement. 
 (d) The failure of either party to require the performance of any term of this Agreement or the waiver by either party of any breach under this Agreement shall not prevent subsequent enforcement of such term, nor be deemed a waiver of any
subsequent breach. 
 (e) The section headings within this Agreement are for convenience only and shall not be deemed to affect in any way
the language of the provisions to which they refer. 
 (f) The language in this Agreement shall in all cases be construed as a whole,
according to its fair meaning, and not strictly for or against any of the parties. 
  

 17 

 IN WITNESS WHEREOF, the parties have executed, in duplicate, this Agreement in one or more counterparts
which, taken together, shall constitute one Agreement, and shall be effective as of January 1, 1995. 
  

							
	 	 	 	 	THE DIAL CORP
				
	 /s/ Rebecca F. Allan
	 		 	By	 	 /s/ John Greenwell

	Attest	 		 	Title	 	 Senior Vice President
 General Manager Food
Division

			
		 		 	CONAGRA INC.
				
	 /s/ Patrica L. Niespch
	 		 	By	 	 /s/ Michael J. Trautschold

	Attest	 		 		 	Michael J. Trautschold
		 		 	Title	 	Corporate Vice President,
		 		 		 	Marketing Services

  

 18Form of Common Stock Warrant

 Exhibit 4.3 
 COMMON STOCK WARRANT 
 THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, OR AN OPINION OF COUNSEL
SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT. 
 WARRANT NO.
             
 Dated:
            ,              
 VOID AFTER:             ,              
 Warrant To Purchase
                                 
 (            ) Shares (the “Shares”) of Common Stock 
 WARRANT TO PURCHASE COMMON STOCK 
 OF 
 BASIN WATER, INC., a California Corporation 
 This warrant (the “Warrant”) certifies that, for value received, the Warrant Holder is entitled, subject to the terms set forth below, to
purchase from the Company the number set forth above of fully paid and nonassessable Shares at the Share Price at any time or from time to time from the date of this Warrant to and including the Expiration Date such price and number of shares being
subject to adjustment as provided herein. The right to exercise this Warrant shall expire at the close of business on the Expiration Date. 
 1.
DEFINITIONS. As used in this Warrant, the following terms, unless the context requires otherwise, have the following meanings: 
 1.1 “Company” means Basin Water, Inc., a California corporation, and any corporation that shall succeed to or assume the obligations of Basin Water, Inc. under this Warrant. 
 1.2 “Common Stock,” when used with reference to stock of the Company, means all shares, now or hereafter authorized, of the class of the Common
Stock of the Company presently authorized and stock of any other class into which those shares may later be changed. 
 1.3
“Corporations Code” refers to the sections of the California Corporations Code. 
 1.4 “Expiration Date” means the
“Void After” date above set forth. 

 1.5 “Opinion of Counsel” means a written opinion, signed by legal counsel, who may be an
employee of, or of counsel to, the Company or other counsel satisfactory to the Company. 
 1.6 “Securities Act” means the
Securities Act of 1933, or any similar federal statute, and the rules and regulations of the Securities and Exchange Commission, or any other federal agency then administering the Securities Act, under that legislation, all as they may be in effect
at the time. 
 1.7 “Share Price” means the price per share of
                     ($            ), payable in United States currency.

 1.8 “Subscription” means the form attached hereto, designated Exhibit “A” and incorporated herein by reference.

 1.9 The terms “Warrant Holder,” “Holder of Warrants,” “Holder,” or similar terms when the context refers to
a holder of the warrants, mean                                 , a
                                , or its registered assigns, and/or anyone who at
the time is the registered holder of the Warrant. 
  

	2.	FEDERAL SECURITIES REGULATION 

 2.1
Representations. The Warrant Holder represents, by accepting this Warrant, that it is an “accredited investor” as that term is defined in Rule 501 promulgated under the Securities Act and understands that this Warrant and any
securities issuable upon exercise of this Warrant have not been registered for sale under Federal or state securities laws or “Blue Sky” laws and are being offered and sold to the Warrant Holder pursuant to one or more exemptions from the
registration requirements of such securities laws. The Warrant Holder further understands that the Shares have not been qualified under the California Corporations Code (the “California Law”) by reason of their issuance in a transaction
exempt from the qualification requirements of the California Law, which exemption depends upon, among other things, Warrant Holder’s representations made herein. The Warrant Holder further represents to the Company that he is acquiring this
Warrant and will acquire any securities issuable upon exercise of this Warrant for its own account for investment and not with a view to, or for sale in connection with, any distribution thereof in violation of the Securities Act, and agrees that
this Warrant and any such securities will not be sold or otherwise transferred unless (i) a registration statement with respect to such transfer is effective under the Securities Act and any applicable state securities laws or “Blue
Sky” laws or (ii) this Warrant or any such securities are (x) sold or otherwise transferred in whole, or if sold or otherwise transferred in part, in increments of
                                
(                ) Shares, and (y) the Warrant Holder has delivered to the Company an opinion of counsel reasonably satisfactory to the Company, at
Warrant Holder’s expense, that such sale or transfer is made pursuant to one or more exemptions from the Securities Act pursuant to Section 2.3 below. 
 2.2 Non-Registered Securities. The sale or other transfer of the Warrant is greatly restricted because the Warrant will not be registered for sale under the Securities Act or qualified for sale under any state
securities laws, and may therefore have to be held indefinitely unless subsequently registered under the Securities Act and qualified under applicable state laws or an exemption from such registration or qualification is available. No market may
exist for the Warrant and it is unlikely that any substantial market will develop. Investors who do not wish or who are financially unable to remain as Warrant Holders for a substantial period of time are 

 
advised against investment in the Warrant offered hereby. No market for the resale of the Warrant is expected to develop in the foreseeable future. There are
no registration rights associated with the Common Stock of the Company. 
 2.3 Restriction on Transferability of Warrants. The Shares
authorized under the Warrant are “Restricted Securities” as that term is defined in Rule 144 under the Securities Act, and accordingly, the Shares must be held unless they are subsequently registered under the Securities Act and qualified
under any applicable state securities laws or exemptions from such registration or qualification are available. The Company is under no obligation to register the Shares authorized under the Warrant under any securities law. If, at the time of any
exercise, transfer, or surrender for exchange of any of this Warrant or of Common Stock issued on the exercise of the Warrant, such Warrant or Common Stock is not registered under the Securities Act, the Company may require, as a condition to
allowing that exercise, transfer, or exchange, that the holder or transferee of this Warrant or Common Stock, furnish to the Company such information as, in the opinion of its counsel, is reasonably necessary to establish that the exercise,
transfer, or exchange may be made without registration under the Securities Act. That information shall include a written statement that the holder is purchasing the Common Stock or that the transferee is acquiring the Warrant or Common Stock for
such holder’s or transferee’s own account, for investment and not with a view to the sale or distribution of the Warrant or Common Stock nor with any then-present intention of distributing or selling the Warrant or Common Stock. Any such
Warrant or Common Stock certificate may, at the Company’s sole option and discretion, include any legend considered necessary or desirable to comply with the Securities Act. 
 2.4 Additional Representations of the Holder. The Holder further hereby represents and warrants to the Company as follows: 
 2.4.1 Purchase Entirely for Own Account. By the Holder’s execution of this Warrant, the Holder hereby confirms that this
Warrant and the Common Stock of the Company issuable upon exercise of this Warrant (collectively, the “Securities”) shall be acquired for investment for the Holder’s own account, not as a nominee or agent, and not with a view to the
resale or distribution of any part thereof, and that the Holder has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Warrant, the Holder further represents that the Holder does not
have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participation to such person or to any third person, with respect to any of the Securities. The Holder represents that it has full power and
authority to enter into this Warrant. 
 2.4.2 Accredited Investor. The Holder is an “accredited investor”
within the meaning of Securities and Exchange Commission Rule 501 of Regulation D, as now in effect. 
 2.4.3 Restricted
Securities. The Holder understands that the Securities it is and shall be purchasing are characterized as “restricted securities” under the federal securities laws inasmuch as they are being acquired from the Company in a transaction
not involving a public offering and that, as more particularly set forth above in Section 2.2, under such laws and applicable regulations such securities may be resold without registration under the Act, only in certain limited circumstances.
In this connection, as more particularly set forth above in Section 2.3, the Holder represents that it is familiar with Rule 144 promulgated under the Act, as now in effect, and understands the resale limitations imposed thereby and by the Act.

 2.4.4 Legends. The Holder understands that the certificate or certificates
evidencing the Securities may bear one or all of the following legends: 
 (a) The securities evidenced by this certificate
have not been registered under the Securities Act of 1933, as amended (the “Act”) or the securities laws of any state of the United States. The securities evidenced by this certificate may not be offered, sold or transferred for value
directly or indirectly, in the absence of such registration under the Act and qualification under applicable state laws, or pursuant to an exemption from registration under the Act and qualification under applicable state laws, the availability of
which is to be established to the reasonable satisfaction of the Company. 
 (b) Any legend required by the laws of the State
of California, including any legend required by the California Department of Corporations and Sections 417 and 418 of the Corporations Code. 
 (c) Any legend required to be placed on the Securities purchased by investors in any future sale or offering of any Securities. 
  

	3.	EXERCISE OF THE WARRANT 

 3.1 Exercising
Rights Under the Warrant. 
 3.1.1 Cash Exercise. A Warrant Holder may exercise it in full by surrender of this
Warrant, with the Subscription, duly executed by the Warrant Holder, to the Company at its principal office at 8731 Prestige Court, Rancho Cucamonga, CA 91730, accompanied by payment in the amount obtained by multiplying the Share Price by the
number of Shares of Common Stock specified on the face of this Warrant, subject to Sections 3.3 and 4 below. 
 3.1.2 Form
of Payment. Payment for Shares where this Warrant is exercised pursuant to Section 3.1.1 above may be in cash or by cashier’s or certified check payable to the order of the Company. 
 3.1.3 Partial Exercise. The Warrant Holder may exercise in part by surrendering the Warrant, accompanied by payment as provided
above, except that the amount payable by the Warrant Holder on such partial exercise shall be the amount obtained by multiplying the Share Price by the number of Shares of Common Stock, not to exceed the number specified on the face of this Warrant,
subject to Sections 3.2 and 4 below, designated by the holder in the Subscription at the end of this Warrant. On partial exercise, the Company shall promptly issue and deliver to the Holder of this Warrant a new Warrant or Warrants of like tenor in
the name of that Warrant Holder, providing for the right to purchase that number of Shares of Common Stock for which this Warrant has not been exercised. 
 3.1.4 Cashless Exercise. In lieu of exercising this Warrant as specified in Section 3.1.1, the Warrant Holder may from time to time convert this Warrant, in whole or in part, into a number of Shares having
an aggregate fair market value on the date of such exercise equal to the difference between (a) the fair market value of the number of shares of Common Stock subject to this Warrant designated for exercise by the Holder hereof on the date of
the 

 
exercise and (b) the aggregate Share Price for such shares in effect at such time. The “fair market value” of a share of Common Stock (for all
purposes of this Warrant) shall be (a) if the Common Stock is then traded on a securities exchange, the average of the closing prices of the Common Stock on such exchange over the twenty (20) trading day period ending three
(3) trading days prior to the date of exercise, (b) if the Common Stock is then regularly traded over-the-counter, the average of the sale prices or secondarily the closing bid price for the Common Stock over the twenty (20) trading
day period ending three (3) trading days prior to the date of exercise, or (c) if there is no active public market for the Common Stock, (i) if within ninety (90) days prior to the date of exercise an arm’s-length
transaction shall have been consummated between the Company and a person other than an affiliate of the Company, in which transaction the fair market value of a share of Common Stock shall have been determined, such fair market value, or
(ii) if no such transaction shall have been consummated within ninety (90) days prior to the date of exercise, an amount equal to the value of the Common Stock most recently determined by the Company’s Board of Directors in good
faith, increased at the same pro rata rate from the date of the most recent determination of such fair market value as was realized during the equivalent time period following the second most recent determination thereof. If the Holder of this
Warrant exercises this Warrant contingent upon the closing of a public offering, the “fair market value” of a share of Common Stock on the date of exercise shall be equal to the initial price to the public specified in the final prospectus
with respect to such public offering. The following diagram illustrates how many shares would then be issued upon exercise pursuant to this Section 3.1.4: 
  

	 	Let	FMV = Fair market value per Share at date of exercise. 

  

	 	    	PSP = Per share Share Price at date of exercise. 

  

	 	    	N = Number of Shares desired to be exercised. 

  

	 	    	X = Number of Shares issued upon exercise. 

  

	 	    	X = (FMV)(N)-(PSP)(N) 

 FMV

 Upon the Warrant Holder’s cashless exercise pursuant to this Section 3.1.4, the Company shall deliver to the Holder (without payment by the
Holder of any exercise price or any cash consideration) that number of Shares of Common Stock computed using the formula provided in this Section 3.1.4. 
 3.2 Company’s Obligations Upon Exercise. At the time this Warrant is exercised, the Company will, at the Warrant Holder’s request, acknowledge in writing its continuing obligation to afford to that
Holder any rights to which that Warrant Holder shall continue to be entitled after such exercise in accordance with this Warrant, provided that, if the Holder fails to make such request, that failure shall not affect the Company’s continuing
obligation to afford to such Holder any such rights. 
 3.3 Delivery of Stock Certificate. As soon as possible after full or partial
exercise of this Warrant, the Company at its expense will cause to be issued in the name of, and delivered to the Warrant Holder, a certificate or certificates for the number of fully paid and nonassessable 

 
shares of Common Stock to which that Warrant Holder shall be entitled on such exercise, together with any other securities and property to which that Holder
is entitled on such exercise under the terms of this Warrant. No fractional share will be issued on exercise of rights to purchase under this Warrant. If on any exercise of this Warrant, a fraction of a share results, the Company will pay the cash
value of that fractional share, calculated on the basis of the fair market value of one Share as determined in good faith by the Board of Directors of the Company. 
  

	4.	ANTIDILUTION PROVISIONS 

 4.1 Stock Splits
and Combinations. If the Company at any time subdivides (including a stock dividend payable in any class of the stock of the Company) or combines its outstanding shares of Common Stock, this Warrant shall, after that subdivision or combination,
be evidence of the right to purchase the number of Shares of Common Stock that would have been issuable as a result of that change with respect to the Shares of Common Stock that were purchasable under this Warrant immediately before that
subdivision or combination. If the Company at any time subdivides the outstanding shares of Common Stock, the Share Price then in effect immediately before that subdivision shall be proportionately decreased, and, if the Company at any time combines
the outstanding shares of Common Stock, then the Share Price then in effect immediately before that combination shall be proportionately increased. Any adjustment under this provision shall become effective at the close of business on the date of
the subdivision or combination becomes effective. 
 4.2 Reclassifications, Exchanges, and Substitutions. If the Common Stock issuable
in exercise of this Warrant is changed into the same or a different number of shares of any other class or classes of stock, whether by capital reorganization, reclassification, or otherwise, other than a subdivision or combination of shares,
provided for above, the Warrant Holder shall, on the exercise of the Warrant, be entitled to purchase, in lieu of the Common Stock that such Warrant Holder would have become entitled to purchase but for such change, a number of shares of such other
class or classes of stock equivalent to the number of Shares of Common Stock that would have been subject to purchase by the Holder on exercise of this Warrant immediately before that change. 
 4.3 Reorganizations, Mergers, Consolidations, or Sale of Assets. If at any time there is a capital reorganization of the Company’s Common
Stock (other than a combination, reclassification, exchange, or subdivision of shares provided for elsewhere in this Warrant), or a merger or consolidation of the Company with or into another corporation or other such entity, or the sale of all or
substantially all of the Company’s properties and assets as, or substantially as, an entirety to another person, then, as a part of such reorganization, merger, consolidation, or sale, the Company shall give the Warrant Holder at least thirty
(30) days’ prior notice of such event. Warrant Holder shall have the right to exercise this Warrant in whole or part, pursuant to the terms hereof, prior to such event. If Warrant Holder does not exercise this Warrant in full prior to such
event, then the Warrant Holder’s rights hereunder shall cease and be of no further force or effect, unless, in the sole discretion of the Board of Directors of the Company, provision is made so that the Holder of this Warrant shall thereafter
be entitled to receive on exercise of this Warrant, during the period specified in this Warrant and on payment of the Share Price then in effect, the number of shares of stock or other securities or property of the Company, or of the successor
company resulting from such merger or consolidation, to which a Holder of the Common Stock deliverable on exercise of this Warrant would have been entitled on that event if 

 
this Warrant had been exercised immediately before that event. In such case, appropriate adjustment, as determined by the Company’s Board of Directors,
shall be made in applying this Warrant to the rights and interests of the Holder of this Warrant after the reorganization, merger, consolidation, or sale to the end that this Warrant, including adjustment of the Share Price then in effect and number
of shares purchasable on exercise of this Warrant, shall be applicable after that event, as near as reasonably may be, in relation to any Shares or other property deliverable after that event on exercise of this Warrant. The Company shall within
thirty (30) days after making such adjustment, give written notice, by first class mail, postage prepaid, to the registered Holder of this Warrant at the address of that Holder, as shown on the Company’s books. That notice shall set forth,
in reasonable detail, the event requiring the adjustment and the method by which the adjustment was calculated and shall specify the Share Price then in effect after the adjustment and the increased or decreased number of purchasable Shares on
exercise of this Warrant. When appropriate, advance notice may be given and included as part of the notice required under other provisions of this Warrant. 
 4.4 Prior Notice. If: (a) the Company shall pay any dividend payable in Common Stock (to the extent not covered by Section 4.1) or make any other distribution to the holders of its Common Stock, other
than a dividend in Common Stock exempt from the adjustment provisions of this Warrant, or a cash distribution to the extent that the aggregate of all such case dividends paid or declared after the date of this Warrant does not exceed the net income
of the Company earned after that date; or (b) the Company shall offer for subscription pro rata to the holders of its Common Stock any additional shares of stock of any class or any other rights; or there shall be a voluntary or involuntary
dissolution, liquidation, or winding up of the Company: 
 Then, in each such case the Company shall give at least fifteen (15) days
prior written notice, by first class mail, postage prepaid, to the registered Warrant Holder at the address of that Warrant Holder shown on the books of the Company, of the date as of which the books of the Company shall close or a record shall be
taken for such stock dividend, distribution or subscription rights, or the date as of which the dissolution, liquidation, or winding up shall take place. That notice also shall specify the date as of which the holders of the Common Stock of record
shall either participate in that dividend, distribution, or subscription rights or shall be entitled to exchange their Common Stock for securities or other property deliverable on such dissolution, liquidation, or winding up, on which date, in the
event of a voluntary or involuntary dissolution, liquidation, or winding up of the Company, the right to exercise this Warrant shall cease. 
 4.5 Good Faith Provision. The Company covenants that it will not intentionally avoid or intentionally seek to avoid the observance or performance of any of the terms of this Warrant, but it will at all times in good faith assist in
carrying out all those terms and take all action necessary or appropriate to protect the rights of the holder of this Warrant against dilution or other impairment. 
  

	5.	MISCELLANEOUS PROVISIONS 

 5.1 Reservation
of Stock. The Company covenants that it will at all times reserve and keep available, solely for issuance on exercise of this Warrant, all Shares of Common Stock or other securities from time to time issuable on exercise of this Warrant.

 5.2 Listing on a Stock Exchange. If the Company at any time lists any Common Stock or other
securities of the same class as those issuable on exercise of this Warrant on any national securities exchange, or include these in the NASDAQ Stock Market (the “NASDAQ”), the Company will, at its expense, simultaneously list on that
exchange, or include in NASDAQ, an official notice of issuance on exercise of this Warrant and maintain such listing or inclusion of all Shares of Common Stock or other securities from time to time issuable on exercise of this Warrant, for so long
as the Common Stock or other such securities are so listed. 
 5.3 Replacement. On receipt of evidence reasonably satisfactory to the
Company of the loss, theft, destruction, or mutilation of this Warrant and, in the event of such occurrence, on delivery of an indemnity agreement or bond reasonably satisfactory in form and amount to the Company or, in the case of mutilations, on
surrender and cancellation of this Warrant, the Company, at the Warrant Holder’s expense, will execute and deliver, in lieu of this Warrant, a new Warrant of like tenor. 
 5.4 Transfer. Warrant Holder may assign this Warrant for the aggregate number of Shares that have not been previously exercised, but in no event
in excess of the number of Shares set forth on the first page of this Warrant, subject to compliance with the other terms and conditions hereof. On surrender of this Warrant for assignment, properly endorsed on the form of assignment at the end of
this Warrant, and subject to the provisions of this Warrant on compliance with the Securities Act, the Company, at its expense, will issue a new Warrant, in such name as the Warrant Holder, on payment by the Warrant Holder of any applicable transfer
taxes, may direct, calling in the aggregate on the face of such Warrant for the number of Shares of Common Stock that have not been previously exercised hereunder. 
 5.5 Warrant Agent. The Company may, on written notice to the Warrant Holder, appoint an agent for the purpose of issuing Common Stock or other securities on the exercise of this Warrant and of replacing or
exchanging this Warrant; and after that appointment occurs, any such issuance, replacement or exchange shall be made at that office by that agent. 
 5.6 No Rights as a Shareholder. No Warrant Holder of this Warrant, as such, shall be entitled to vote or receive dividends or be considered a shareholder of the Company for any purpose, nor shall anything in this Warrant be construed
to confer on any Warrant Holder of this Warrant, as such, any rights of a shareholder of the Company or any right to vote, to give or withhold consent to corporate action, to receive notice of meetings of shareholders, or to receive dividends or
subscription rights. 
 5.7 Modification. Except as otherwise provided in this Warrant, neither this Warrant nor any provision hereof
may be waived, modified, amended, discharged, or terminated except by an instrument in writing signed by the party against which the enforcement of such waiver, modification, amendment, discharge or termination is sought, and then only to the extent
set forth in such writing. 
 5.8 Controlling Law. This Warrant shall be governed by, and construed and interpreted in accordance
with, the laws of the State of California, without giving effect to any choice-of-law or conflicts-of-laws rule or principle that would result in the application of any other laws. 

 5.9 Attorneys’ Fees. Should the Company or the Warrant Holder of this Warrant reasonably
retain counsel for the purpose of enforcing any provision of this Warrant, including without limitation instituting any action or proceeding to enforce any provision of this Warrant, for damages or injunctive or other relief by reason of any alleged
breach of any provision of this Warrant, for a declaration based on rights or obligations of the Company or the Warrant Holder under this Warrant, or for any other judicial or equitable remedy, then if the matter is settled by judicial or
quasi-judicial determination (including arbitration, if such arbitration is agreed to by the Warrant Holder and the Company), the prevailing party shall be entitled, in addition to such other relief as may be granted, to be reimbursed by the losing
party for all costs and expenses incurred, including without limitation all attorneys’ and experts’ fees and costs for services rendered to the prevailing party and any attorneys’ fees and costs incurred in enforcing any judgment or
order entered. The prevailing party shall be determined by the court (or arbitrator, if arbitration is agreed to by the Warrant Holder and the Company) in the initial or any subsequent proceeding. 
 5.10 Headings. Headings, titles and captions are for convenience only and shall not constitute a portion of this Warrant or be used for the
interpretation thereof. 
 5.11 Notices. Any notice, approval, consent, waiver or other communication required or permitted to be
given or to be served upon the Warrant Holder or the Company in connection with this Warrant shall be in writing. Such notice shall be personally served, sent by facsimile, sent prepaid by registered or certified mail with return receipt requested,
or sent by reputable overnight delivery service, such as Federal Express, and shall be deemed given: (a) if personally served, when delivered to the Party to whom such notice is addressed; (b) if given by facsimile, when sent, provided
that the confirmation sheet from the sending fax machine confirms that the total number of pages were successfully transmitted; (c) if given by prepaid or certified mail with return receipt requested, on the date of execution of the return
receipt; or (d) if sent by reputable overnight delivery service, such as Federal Express, when received. Such notices shall be addressed to the individual or entity to whom such notice is to be given at the individual or entity’s address
set forth below or as such individual or entity shall otherwise direct in a writing to all other individuals or entities delivered or sent in accordance with this Section. 

					
	 If to Company to:
	 	Basin Water, Inc.	 	
		 	 8731 Prestige Court
 Rancho Cucamonga, California
91730
 Attn: Peter L. Jensen, President
 Phone:
(909) 481-6800
 Fax No.: (909) 481-6801
	 	
			
	 If to Warrant Holder:
	 	_________________________________	 	
		 	_________________________________	 	
		 	_________________________________	 	
		 	Attn:  ____________________________	 	
		 	Phone:  ___________________________	 	
		 	Fax No:  __________________________	 	

 5.12 Severability. If any provision of this Warrant is invalid, illegal or unenforceable,
the balance of this Warrant shall remain in full force and effect notwithstanding such invalidity, illegality, or unenforceability. 
 5.13
Execution in Counterparts. This Warrant may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. The signature page of any counterpart may be detached
therefrom without impairing the legal effect of the signature(s) thereon, provided such signature page is attached to any other counterpart identical thereto except having additional signature page(s) executed by one or more of the other individuals
or entities. The Company and the Warrant Holder agree that each of them may rely upon the facsimile signature of the Company or Warrant Holder on this Warrant as constituting a duly authorized, irrevocable, actual, current delivery of this Warrant
as fully as if this Warrant contained the original ink signature of the Warrant Holder or the Company supplying a facsimile signature. 
 5.14 Market Stand-Off. 
 (a) Warrant Holder hereby agrees that from the earlier to occur of (i) the date of the initial
public offering of the Common Stock (the “IPO”) or (ii) the first date (the “Trading Date”) on which the Common Stock (or securities received in exchange for Common Stock) trades on a national securities exchange or on the
NASDAQ (a “Trading Event”) and continuing for a period of one hundred eighty (180) days thereafter or such longer period as may be requested by the underwriter or underwriters, in the case of an IPO (the “Lock-Up Period”),
Warrant Holder will not, without the prior written consent of the Company, offer, pledge, sell, contract to sell, grant any option for the sale of, or otherwise dispose of, directly or indirectly, any shares of Common Stock or securities
exchangeable, convertible or exercisable for shares of Common Stock purchased or acquired by Warrant Holder. 
 (b) In connection with any
subsequent public offering of the Company’s securities, the Warrant Holder hereby agrees to be subject to a lock-up for a period of ninety (90) days or such longer period following such public offering as and if required by the underwriter
or underwriters of such public offering (the “Subsequent Lock-Up Period”). The foregoing lock-ups shall be applicable regardless of whether the securities are then registered for re-sale under 

 
the Securities Act. This Section 5.14 shall be binding upon any transferee of the Warrant or the Shares. 
 (c) In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to any shares of Common Stock or
securities exchangeable, convertible or exercisable for shares of Common Stock of Warrant Holder or its transferee (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. 
 IN WITNESS WHEREOF, this Warrant is executed as of the date first above set forth. 
  

			
	 “Company”

	
	 Basin Water, Inc., a California corporation

		
	By:	 	  
		 	      Peter L. Jensen, President

  

			
	 “Warrant Holder”

	
	  
		
	By:	 	  
	Its:	 	  

 EXHIBIT “1” 
 SUBSCRIPTION FORM 
 TO: Basin Water, Inc. 
 The undersigned, the Holder of the attached Warrant, hereby irrevocably elects to exercise the purchase right represented by that Warrant, and to
purchase under that Warrant,          (not to exceed in the aggregate                     
(            )) Shares of Common Stock of Basin Water Inc., a California corporation (the “Company”), and either (check (a) or (b) following) (a) [ ]
herewith makes payment of $                      ($            ) per
Share for those Shares, or (b) [ ] elects cashless exercise pursuant to Section 3.1.4 of the attached Warrant. As a condition to this subscription, the undersigned hereby represents and warrants to the Company that the representations and
warranties of Section 6(a) are true and correct as of the date of this subscription as if they had been made on such date with respect to the Shares. The undersigned further requests that the certificates for those Shares be issued in the name
of, and delivered to                                     ,
whose address is
                                        
                        . 
 DATED:                                  
  

			
	 Warrant Holder

	
	  
		
	By:	 	  
	Its:

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