Document:

Amendment No. 3 to Credit Agreement

 Exhibit 10.1 
  
 [Execution] 
  
 AMENDMENT NO. 3 TO CREDIT AGREEMENT 
  
 This AMENDMENT NO. 3 TO CREDIT AGREEMENT (this “Amendment”), dated as of January 31, 2006, is entered into by and among WINN-DIXIE STORES,
INC., Debtor and Debtor-in-Possession, a Florida corporation (“Winn-Dixie”), WINN-DIXIE MONTGOMERY, INC., Debtor and Debtor-in-Possession, a Florida corporation (“W-D Montgomery”), WINN-DIXIE PROCUREMENT, INC., Debtor and
Debtor-in-Possession, a Florida corporation (“W-D Procurement”), WINN-DIXIE RALEIGH, INC., Debtor and Debtor-in-Possession, a Florida corporation (“W-D Raleigh”), WINN-DIXIE SUPERMARKETS, INC., Debtor and Debtor-in-Possession, a
Florida corporation (“W-D Supermarkets”), DIXIE STORES, INC., Debtor and Debtor-in-Possession, a New York corporation (“Dixie Stores” and together with Winn-Dixie, W-D Montgomery, W-D Procurement, W-D Raleigh and W-D
Supermarkets, each a “Borrower” and, collectively, “Borrowers”), the various financial institutions and other Persons from time to time parties to the Credit Agreement (“Lenders”), WACHOVIA BANK, NATIONAL ASSOCIATION,
as administrative agent and collateral monitoring agent for the Lenders (in such capacities, “Agent”), GENERAL ELECTRIC CAPITAL CORPORATION and THE CIT GROUP/BUSINESS CREDIT, INC., as syndication agents for the Lenders (in such capacities,
“Syndication Agents”), and BANK OF AMERICA, NA, MERRILL LYNCH CAPITAL, A DIVISION OF MERRILL LYNCH BUSINESS FINANCIAL SERVICES, INC., GMAC COMMERCIAL FINANCE LLC and WELLS FARGO FOOTHILL, LLC, as documentation agents for the Lenders (in
such capacities, “Documentation Agents”). 
  
 W
I T N E S S E T H: 
  
 WHEREAS, Agent and Lenders have entered into financing arrangements with Borrowers and Guarantors pursuant to which Agent and Lenders may, upon certain terms and conditions, make loans and advances and provide other
financial accommodations to Borrowers as set forth in Credit Agreement, dated February 23, 2005, as amended by Amendment No. 1 to Credit Agreement, dated March 31, 2005, and Amendment No. 2 and Consent to Credit Agreement, dated
as of July 29, 2005, among Agent, Syndication Agents, Documentation Agents, Lenders, Wachovia Capital Markets, LLC, as sole lead arranger and sole bookrunner, and Borrowers (as the same now exists and may hereafter be amended, modified,
supplemented, extended, renewed, restated or replaced, the “Credit Agreement”) and the other agreements, documents and instruments referred to therein or any time executed and/or delivered in connection therewith or related thereto,
including this Amendment (all of the foregoing, together with the Credit Agreement, as the same now exist or may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced, being collectively referred to herein as the
“Loan Documents”); 
  
 WHEREAS, Borrowers have requested
that the Agent and the Lenders make certain amendments to the Credit Agreement, and the Agent and the Lenders are willing to agree to such amendments, subject to the terms and conditions contained herein; and 
  
 WHEREAS, the parties hereto desire to enter into this Amendment to evidence
and effectuate such amendments, subject to the terms and conditions and to the extent set forth herein; 
  
 NOW, THEREFORE, in consideration of the premises and covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the parties hereto agree as follows: 
  
 1. Definitions. Capitalized terms used herein which are not otherwise defined herein shall have the respective meanings ascribed thereto in the Credit Agreement. 

 2. Negative Covenants — Financial Condition. Section 7.2.4(b) of the Credit Agreement is
hereby amended by deleting such Section in its entirety and replacing it with the following: 
  
 “(b) After the receipt by the Agent of the Initial Monthly Projections: 
  
 (i) the Borrowers and the Guarantors will not permit the consolidated EBITDA of Winn-Dixie and its Subsidiaries for the most recently
ended trailing six (6) Fiscal Month period with respect to each Fiscal Month through and including the Fiscal Month ended January 11, 2006, in each case tested on the last day of each Fiscal Month, to be less than eighty percent
(80%) of the EBITDA projected in such Monthly Projections for such period; and 
  
 (ii) the Borrowers and the Guarantors will not permit the consolidated EBITDA less Capital Expenditures of Winn-Dixie and its
Subsidiaries for the most recently ended trailing eight (8) Fiscal Month period with respect to the Fiscal Month ended February 8, 2006, the most recently ended trailing nine (9) Fiscal Month period with respect to the Fiscal Month
ended March 8, 2006, the most recently ended trailing ten (10) Fiscal Month period with respect to the Fiscal Month ended April 5, 2006, the most recently ended trailing eleven (11) Fiscal Month period with respect to the Fiscal
Month ended May 3, 2006, the most recently ended trailing twelve (12) Fiscal Month period with respect to the Fiscal Month ended May 31, 2006, the most recently ended trailing thirteen (13) Fiscal Month period with respect to the
Fiscal Month ended June 28, 2006, and the most recently ended trailing thirteen (13) Fiscal Month period with respect to each Fiscal Month thereafter, in each case tested on the last day of each Fiscal Month, to be less than eighty percent
(80%) of the EBITDA less Capital Expenditures projected in such Monthly Projections for such period; and” 
  
 3. Schedules to Credit Agreement — Percentages; LIBO Offices; Domestic Offices. Schedule II to the Credit Agreement is hereby deleted in its
entirety and replaced with Schedule II to this Amendment. 
  
 4.
Conditions Precedent to Amendment. The provisions contained herein shall be effective as of the date hereof, but only upon the satisfaction of each of the following conditions precedent, in a manner satisfactory to Agent: 
  
 (a) The Agent shall have received an original of this Amendment, duly
authorized, executed and delivered by the Borrowers and the Required Lenders; 
  
 (b) Agent shall have received, in form and substance satisfactory to Agent, all consents, waivers, acknowledgments and other agreements from third persons which Agent may deem necessary or desirable in order to
effectuate the provisions or purposes of this Amendment; and 
  
 (c) as of the date of this Amendment and after giving effect hereto, no Default or Event of Default shall have occurred and be continuing. 
  
 5. Additional Representations, Warranties and Covenants. Each Borrower, jointly and severally, represents, warrants and covenants with and to Agent
and Lenders as follows, which 
  

 2 

 representations, warranties and covenants are continuing and shall survive the execution and delivery hereof, and the
truth and accuracy of, or compliance with each, together with the representations, warranties and covenants in the other Loan Documents, being a continuing condition of the making of Loans by Lenders to Borrowers: 
  
 (a) this Amendment and the other agreements, documents and instruments to
be executed and/or delivered by any Borrower in connection herewith or related hereto (together with this Amendment, collectively, the “Amendment Documents”) have been duly authorized, executed and delivered by all necessary action on the
part of each Borrower which is a party hereto and thereto and, if necessary, its stockholders and the agreements and obligations of Borrowers contained herein and therein constitute legal, valid and binding obligations of each Borrower enforceable
against such Borrower in accordance with their respective terms; 
  
 (b) neither the execution and delivery of this Amendment, nor the consummation of the transactions herein contemplated, nor compliance with the provisions hereof (i) does or shall conflict with or result in the breach of, or constitute
a default in any respect under, any mortgage, deed of trust, security agreement, agreement or instrument to which any Borrower is a party or may be bound, or (ii) shall violate any provision of the Certificate of Incorporation or By-Laws of any
Borrower; and 
  
 (c) as of the date of this Amendment, no
Default or Event of Default exists or has occurred. 
  
 6.
Effect of this Amendment; Entire Agreement. Except as modified pursuant hereto, no other changes or modifications to the Loan Documents are intended or implied, and in all other respects the Loan Documents are hereby specifically ratified,
restated and confirmed by all parties hereto as of the date hereof. This Amendment represent the entire agreement and understanding concerning the subject matter hereof and thereof between the parties hereto, and supersede all other prior
agreements, understandings, negotiations and discussions, representations, warranties, commitments, proposals, offers and contracts concerning the subject matter hereof, whether oral or written. To the extent of conflict between the terms of this
Amendment and the other Loan Documents, the terms of this Amendment shall control. The Credit Agreement and this Amendment shall be read and construed as one agreement. 
  
 7. Further Assurances. The parties hereto shall execute and deliver such additional documents and take such
additional action as may be reasonably necessary or desirable to effectuate the provisions and purposes of this Amendment. 
  
 8. Governing Law. This Amendment will be deemed to be a contract made under and governed by the laws of the State of New York (including for such
purpose sections 5-1401 and 5-1402 of the General Obligations Law of the State of New York) but excluding any principles of conflicts of law or other rule of law that would cause the application of the law of any jurisdiction other than the laws of
the State of New York and the Bankruptcy Code. 
  
 9. Binding
Effect. This Amendment shall be binding upon and inure to the benefit of each of the parties hereto and their respective successors and assigns. 
  
 10. Headings. The headings listed herein are for convenience only and do not constitute matters to be construed in interpreting this Amendment.

  
 11. Counterparts. This Amendment may be executed in any
number of counterparts, but all of such counterparts shall together constitute but one and the same agreement. In making proof of this Amendment, it shall not be necessary to produce or account for more than one counterpart thereof signed by each of
the parties hereto. This Amendment may be executed and delivered by telecopier with the same force and effect as if it were a manually executed and delivered counterpart. 
  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers thereunto
duly authorized as of the day and year first above written. 
  

					
	BORROWERS:	 	WINN-DIXIE STORES, INC.,
	 	 	 	 	Debtor and Debtor-in-Possession, as the
	 	 	 	 	Administrative Borrower and a Borrower
			
	 	 	By:	 	  

	 	 	Title:	 	 
		
	 	 	WINN-DIXIE SUPERMARKETS, INC.,
	 	 	 	 	Debtor and Debtor-in-Possession,
	 	 	 	 	as a Borrower
			
	 	 	By:	 	  

	 	 	Title:	 	 
		
	 	 	WINN-DIXIE MONTGOMERY, INC.,
	 	 	 	 	Debtor and Debtor-in-Possession,
	 	 	 	 	as a Borrower
			
	 	 	By:	 	  

	 	 	Title:	 	 
		
	 	 	WINN-DIXIE PROCUREMENT, INC.,
	 	 	 	 	Debtor and Debtor-in-Possession,
	 	 	 	 	as a Borrower
			
	 	 	By:	 	  

	 	 	Title:	 	 
		
	 	 	WINN-DIXIE RALEIGH, INC.,
	 	 	 	 	Debtor and Debtor-in-Possession,
	 	 	 	 	as a Borrower
			
	 	 	By:	 	  

	 	 	Title:	 	 
		
	 	 	DIXIE STORES, INC.,
	 	 	 	 	Debtor and Debtor-in-Possession,
	 	 	 	 	as a Borrower
			
	 	 	By:	 	  

	 	 	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

					
	AGENTS AND LENDERS:	 	 WACHOVIA BANK, NATIONAL ASSOCIATION,
as the Administrative Agent, the Collateral
Monitoring Agent, the Issuer, a Lender and
the Swing
Line Lender

			
	 	 	By:	 	  

	 	 	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 GENERAL ELECTRIC CAPITAL CORPORATION,
as a Syndication Agent and a Lender

		
	By:	 	  

	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 THE CIT GROUP/BUSINESS CREDIT, INC.,
as a Syndication Agent and a Lender

		
	 By:
	 	  

	 Title:
	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 BANK OF AMERICA, NA,
as a Documentation Agent and a Lender

		
	By:	 	  

	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	MERRILL LYNCH CAPITAL, A DIVISION OF MERRILL LYNCH BUSINESS FINANCIAL SERVICES, INC., as a Documentation Agent and a Lender
		
	By:	 	  

	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	GMAC COMMERCIAL FINANCE LLC,
	    as a Documentation Agent and a Lender
		
	By:	 	  

	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	WELLS FARGO FOOTHILL, LLC,
	    as a Documentation Agent and a Lender
		
	By:	 	  

	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 LASALLE RETAIL FINANCE, A DIVISION OF
 LASALLE BUSINESS CREDIT, INC., AS AGENT
 FOR STANDARD FEDERAL BANK, as a Lender

		
	 By:
	 	  

	 Title:
	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	WESTERNBANK PUERTO RICO, as a Lender
		
	By:	 	  

	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	NATIONAL CITY BUSINESS CREDIT, INC.,
	    as a Lender
		
	 By:
	 	  

	 Title:
	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	UBS AG, STAMFORD BRANCH,
	    as a Lender
		
	By:	 	  

	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	PNC BANK, NATIONAL ASSOCIATION,
	    as a Lender
		
	By:	 	  

	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	STATE OF CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM, as a Lender
		
	By:	 	  

	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	AMSOUTH BANK, as a Lender
		
	By:	 	  

	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 WEBSTER BUSINESS CREDIT CORP.,
     as a Lender

		
	By:	 	  

	Title:	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 ISRAEL DISCOUNT BANK OF NEW YORK,

	     as a Lender

		
	 By:
	 	  

	 Title:
	 	 
		
	 By:
	 	  

	 Title:
	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 MARATHON STRUCTURED FINANCE FUND, L.P., as a Lender

		
	 By:
	 	Marathon Asset Management, L.L.C.
	 Its:
	 	Investment Manager and Authorized Signatory
		
	 By:
	 	  

	 Title:
	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 RZB FINANCE LLC, as a Lender

		
	 By:
	 	  

	 Title:
	 	 
		
	 By:
	 	  

	 Title:
	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 SOVEREIGN BANK, as a Lender

		
	 By:
	 	  

	 Title:
	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	ERSTE BANK, as a Lender
		
	 By:
	 	  

	 Title:
	 	 
		
	 By:
	 	  

	 Title:
	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 AZURE FUNDING, as a Lender

		
	 By:
	 	  

	 Title:
	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 SENIOR DEBT PORTFOLIO, as a Lender

		
	 By:
	 	  

	 Title:
	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 GRAYSON & CO., as a Lender

		
	 By:
	 	  

	 Title:
	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

			
	 EATON VANCE INSTITUTIONAL SENIOR
 LOAN FUND, as a Lender

		
	 By:
	 	  

	 Title:
	 	 

  

	
	[Signature Page - Amendment No. 3 to Credit Agreement]

 SCHEDULE II 
 TO 
 CREDIT AGREEMENT 
  

Percentages; LIBO Office; Domestic Office 
  

							
	 Lender

	  	Percentage

	  	 LIBO Office

	  	 Domestic Office

	 Wachovia Bank, National Association
	  	9.373	  	On file with Agent	  	On file with Agent
	 General Electric Capital Corporation
	  	8.750	  	On file with Agent	  	On file with Agent
	 The CIT Group/Business Credit, Inc.
	  	8.750	  	On file with Agent	  	On file with Agent
	 Bank of America, NA
	  	7.813	  	On file with Agent	  	On file with Agent
	 Merrill Lynch Capital, a Division of Merrill Lynch Business Financial Services, Inc.
	  	7.188	  	On file with Agent	  	On file with Agent
	 GMAC Commercial Finance LLC
	  	7.812	  	On file with Agent	  	On file with Agent
	 Wells Fargo Foothill, LLC
	  	7.187	  	On file with Agent	  	On file with Agent
	 LaSalle Retail Finance, a division of LaSalle Business Credit, Inc., as agent for Standard Federal Bank
	  	5.000	  	On file with Agent	  	On file with Agent
	 Westernbank Puerto Rico
	  	4.063	  	On file with Agent	  	On file with Agent
	 National City Business Credit, Inc.
	  	3.750	  	On file with Agent	  	On file with Agent
	 UBS AG, Stamford Branch
	  	3.750	  	On file with Agent	  	On file with Agent
	 PNC Bank, National Association
	  	3.750	  	On file with Agent	  	On file with Agent
	 State of California Public Employees’ Retirement System
	  	3.438	  	On file with Agent	  	On file with Agent
	 AmSouth Bank
	  	2.500	  	On file with Agent	  	On file with Agent
	 Webster Business Credit Corp.
	  	1.875	  	On file with Agent	  	On file with Agent
	 Israel Discount Bank of New York
	  	1.875	  	On file with Agent	  	On file with Agent
	 Marathon Structured Finance Fund, L.P.
	  	1.563	  	On file with Agent	  	On file with Agent
	 RZB Finance LLC
	  	1.250	  	On file with Agent	  	On file with Agent
	 Sovereign Bank
	  	1.563	  	On file with Agent	  	On file with Agent
	 Erste Bank
	  	1.250	  	On file with Agent	  	On file with Agent
	 AZURE Funding
	  	2.500	  	On file with Agent	  	On file with Agent
	 Eaton Vance - Senior Debt Portfolio
	  	1.625	  	On file with Agent	  	On file with Agent
	 Eaton Vance - Grayson & Co.
	  	2.875	  	On file with Agent	  	On file with Agent
	 Eaton Vance Institutional Senior Loan Fund
	  	.500	  	On file with Agent	  	On file with Agent
	 TOTAL:
	  	100Form of Warrant issued January 2006

 EXHIBIT 4.1 
  
 THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE LAWS, AND NO
INTEREST THEREIN MAY BE SOLD, DISTRIBUTED, ASSIGNED, OFFERED, PLEDGED OR OTHERWISE TRANSFERRED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS COVERING ANY SUCH TRANSACTION, OR SUCH TRANSACTION
IS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND LAWS, SUCH COMPLIANCE, AT THE OPTION OF THE CORPORATION, TO BE EVIDENCED BY AN OPINION OF THE WARRANT HOLDER’S COUNSEL, ACCEPTABLE TO THE CORPORATION, THAT NO VIOLATION OF SUCH
REGISTRATION PROVISIONS WOULD RESULT FROM ANY PROPOSED TRANSFER OR ASSIGNMENT. 
  
 COMMON STOCK PURCHASE WARRANT 
  

  
 No.
W-                     
  
 THIS CERTIFIES that for good and valuable consideration received,
                                        
or a registered assignee (the “Holder”) is entitled, upon the terms and subject to the conditions hereinafter set forth, to acquire from Spectral Molecular Imaging, Inc., a Nevada corporation (the “Corporation”), up
to
                                        
fully paid and nonassessable shares of common stock, par value $            , of the Corporation (“Warrant Stock”) at a purchase price per share (the
“Exercise Price”) of $2.50 (the “Warrant”). 
  

	1.	Term of Warrant. 

  
 Subject to the terms and conditions set forth herein, this Warrant shall be exercisable, in whole or in part, at any time on or after the date hereof and
at or prior to 11:59 p.m., Pacific Standard Time, on                     , 2008 (the “Expiration Time”). Notwithstanding the
foregoing, the Corporation shall have the right (the “Call Right”), except as may be limited by law, other agreements or herein, to repurchase this Warrant if the average closing price for the Corporation’s common stock, as
quoted on the principal trading system on which the common stock is listed or eligible for trading (such as the OTC Bulletin Board, The Nasdaq Stock Market, any stock exchange, or other established over-the-counter quotation service), is equal to or
greater than $4.00 per share, as adjusted pursuant to Section 11 hereof, during the period of the twenty (20) consecutive trading days prior to the date on which the Corporation elects to exercise the Call Right. The price at which the
Corporation is entitled to exercise the Call Right (the “Repurchase Price”) shall be equal to the multiple of (i) $0.01 times (ii) the number of shares of Warrant Stock that this Warrant is then entitled to purchase. In
the event that the Corporation exercises its Call Right, the Corporation shall send the Holder written notice of the exercise of the Call Right 20 calendar days before the repurchase becomes effective. The Holder shall have the right to exercise
this Warrant until the close of business on the twentieth (20th) day after the mailing of the Call Right
notice. If this Warrant is not exercised during the foregoing 20-day period, this Warrant shall expire and cease to be exercisable on the twenty-first (21st) day after the date of mailing of the notice. Within three business days after the expiration of this Warrant as a result of the exercise of the Call Right, the Corporation shall mail to the
Holder a check in the amount of the Repurchase Price. 
  

	2.	Exercise of Warrant. 

  
 The purchase rights represented by this Warrant are exercisable by the registered Holder hereof, in whole or in part, at any time and from time to time at
or prior to the Expiration Time by the surrender 

 
of this Warrant and the Notice of Exercise form attached hereto duly executed to the office of the Corporation at 8591 Skyline Drive, Los Angeles, California
90046 (or such other office or agency of the Corporation as it may designate by notice in writing to the registered Holder hereof at the address of such Holder appearing on the books of the Corporation), and upon payment of the Exercise Price for
the shares thereby purchased (by cash or by check or bank draft payable to the order of the Corporation or by cancellation of indebtedness of the Corporation to the Holder hereof, if any, at the time of exercise in an amount equal to the purchase
price of the shares thereby purchased); whereupon the Holder of this Warrant shall be entitled to receive from the Corporation a stock certificate in proper form representing the number of shares of Warrant Stock so purchased. 
  

	3.	Issuance of Shares; No Fractional Shares of Scrip. 

  
 Certificates for shares purchased hereunder shall be delivered to the Holder hereof by the Corporation’s transfer agent at the Corporation’s
expense within a reasonable time after the date on which this Warrant shall have been exercised in accordance with the terms hereof. Each certificate so delivered shall be in such denominations as may be requested by the Holder hereof and shall be
registered in the name of such Holder or, subject to applicable laws, such other name as shall be requested by the Holder. If, upon exercise of this Warrant, fewer than all of the shares of Warrant Stock evidenced by this Warrant are purchased prior
to the Expiration Time, one or more new warrants substantially in the form of, and on the terms in, this Warrant will be issued for the remaining number of shares of Warrant Stock not purchased upon exercise of this Warrant. The Corporation hereby
represents and warrants that all shares of Warrant Stock which may be issued upon the exercise of this Warrant will, upon such exercise, be duly and validly authorized and issued, fully paid and nonassessable and free from all taxes, liens and
charges in respect of the issuance thereof (other than liens or charges created by or imposed upon the Holder of the Warrant Stock). The Corporation agrees that the shares so issued shall be and will be deemed to be issued to such Holder as the
record owner of such shares as of the close of business on the date on which this Warrant shall have been surrendered for exercise in accordance with the terms hereof. No fractional shares or scrip representing fractional shares shall be issued upon
the exercise of this Warrant. With respect to any fraction of a share called for upon the exercise of this Warrant, an amount equal to such fraction multiplied by the then current price at which each share may be purchased hereunder shall be paid in
cash to the Holder of this Warrant. 
  

	4.	Registration Rights. 

  
 Pursuant to the terms of the Subscription Agreement between the Corporation and the Holder and Exhibit A thereto signed in connection with the issuance of
this Warrant, certain registration rights apply to the Warrant Stock. See the Subscription Agreement and Exhibit A thereto for a full description of the registration rights applicable to the Warrant Stock and the limitations on such rights.

  

	5.	Charges, Taxes and Expenses. 

  
 Issuance of certificates for shares of Warrant Stock upon the exercise of this Warrant shall be made without charge to the Holder hereof for any issue or
transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Corporation, and such certificates shall be issued in the name of the Holder of this Warrant or in such
name or names as may be directed by the Holder of this Warrant; provided, however, that in the event certificates for shares of Warrant Stock are to be issued in a name other than the name of the Holder of this Warrant, this Warrant when surrendered
for exercise shall be accompanied by an Assignment Form to be provided by the Corporation duly executed by the Holder hereof. 
  

 2 

	6.	No Rights as a Stockholder. 

  
 This Warrant does not entitle the Holder hereof to any voting rights or other rights as a stockholder of the Corporation prior to the exercise hereof.

  

	7.	Exchange and Registry of Warrant. 

  
 This Warrant is exchangeable, upon the surrender hereof by the registered Holder at the above mentioned office or agency of the Corporation, for a new
Warrant of like tenor and dated as of such exchange. The Corporation shall maintain at the above-mentioned office or agency a registry showing the name and address of the registered Holder of this Warrant. This Warrant may be surrendered for
exchange, transfer or exercise, in accordance with its terms, at such office or agency of the Corporation, and the Corporation shall be entitled to rely in all respects, prior to written notice to the contrary, upon such registry. 
  

	8.	Loss, Theft, Destruction or Mutilation of Warrant. 

  
 Upon receipt by the Corporation of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant and in case of
loss, theft or destruction of indemnity or security reasonably satisfactory to it, and upon reimbursement to the Corporation of all reasonable expenses incidental thereto, and upon surrender and cancellation of this Warrant, if mutilated, the
Corporation will make and deliver a new Warrant of like tenor and dated as of such cancellation, in lieu of this Warrant. 
  

	9.	Saturdays, Sundays and Holidays. 

  
 If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall be a Saturday or a Sunday or
that is a legal holiday, then such action may be taken or such right may be exercised on the next succeeding day not a Saturday, Sunday or legal holiday. 
  

	10.	Merger, Sale of Assets, Etc. 

  
 If at any time the Corporation proposes to merge or consolidate with or into any other corporation, effect any reorganization, or sell or convey all or
substantially all of its assets to any other entity, then, as a condition of such reorganization, consolidation, merger, sale or conveyance, the Corporation or its successor, as the case may be, shall enter into a supplemental agreement to make
lawful and adequate provision whereby the Holder shall have the right to receive, upon exercise of the Warrant, the kind and amount of equity securities which would have been received upon such reorganization, consolidation, merger, sale or
conveyance by a Holder of a number of shares of common stock equal to the number of shares issuable upon exercise of the Warrant immediately prior to such reorganization, consolidation, merger, sale or conveyance. If the property to be received upon
such reorganization, consolidation, merger, sale or conveyance is not equity securities, the Corporation shall give the Holder of this Warrant ten (10) business days prior written notice of the proposed effective date of such transaction, and
if this Warrant has not been exercised by or on the effective date of such transaction, it shall terminate. 
  

	11.	Subdivision, Combination, Reclassification, Conversion, Etc. 

  
 If the Corporation at any time shall by subdivision, combination, reclassification of securities or otherwise, change the Warrant Stock into the same or a
different number of securities of any class or classes, this Warrant shall thereafter entitle the Holder to acquire such number and kind of securities as would have been issuable in respect of the Warrant Stock (or other securities which were
subject to the purchase rights under this Warrant immediately prior to such subdivision, combination, reclassification or 

  

 3 

 
other change) as the result of such change if this Warrant had been exercised in full for cash immediately prior to such change. The Exercise Price hereunder
shall be adjusted if and to the extent necessary to reflect such change. If the Warrant Stock or other securities issuable upon exercise hereof are subdivided or combined into a greater or smaller number of shares of such security, the number of
shares issuable hereunder shall be proportionately increased or decreased, as the case may be, and the Exercise Price shall be proportionately reduced or increased, as the case may be, in both cases according to the ratio which the total number of
shares of such security to be outstanding immediately after such event bears to the total number of shares of such security outstanding immediately prior to such event. The Corporation shall give the Holder prompt written notice of any change in the
type of securities issuable hereunder, any adjustment of the Exercise Price for the securities issuable hereunder, and any increase or decrease in the number of shares issuable hereunder. 
  

	12.	Transferability; Compliance with Securities Laws. 

  
 (a) This Warrant may not be transferred or assigned in whole or in part without compliance with all applicable federal and state securities laws by the
transferor and transferee (including the delivery of investment representation letters and legal opinions reasonably satisfactory to the Corporation, if requested by the Corporation). Subject to such restrictions, prior to the Expiration Time, this
Warrant and all rights hereunder are transferable by the Holder hereof, in whole or in part, at the office or agency of the Corporation referred to in Section 2 hereof. Any such transfer shall be made in person or by the Holder’s duly
authorized attorney, upon surrender of this Warrant together with the Assignment Form attached hereto properly endorsed. 
  
 (b) The Holder of this Warrant, by acceptance hereof, acknowledges that this Warrant and the Warrant Stock issuable upon exercise hereof are being
acquired solely for the Holder’s own account and not as a nominee for any other party, and for investment, and that the Holder will not offer, sell or otherwise dispose of this Warrant or any shares of Warrant Stock to be issued upon exercise
hereof except under circumstances that will not result in a violation of the Securities Act of 1933, as amended, or any state securities laws. Upon exercise of this Warrant, the Holder shall, if requested by the Corporation, confirm in writing, in a
form satisfactory to the Corporation, that the shares of Warrant Stock so purchased are being acquired solely for Holder’s own account and not as a nominee for any other party, for investment, and not with a view toward distribution or resale.

  
 (c) The Warrant Stock has not been and will not be registered
under the Securities Act of 1933, as amended, and this Warrant may not be exercised except by (i) the original purchaser of this Warrant from the Corporation or (ii) an “accredited investor” as defined in Rule 501(a) under the
Securities Act of 1933, as amended. Each certificate representing the Warrant Stock or other securities issued in respect of the Warrant Stock upon any stock split, stock dividend, recapitalization, merger, consolidation or similar event, shall be
stamped or otherwise imprinted with a legend substantially in the following form (in addition to any legend required under applicable securities laws): 
  
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE LAWS, AND NO INTEREST
THEREIN MAY BE SOLD, DISTRIBUTED, ASSIGNED, OFFERED, PLEDGED OR OTHERWISE TRANSFERRED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS COVERING ANY SUCH TRANSACTION, OR SUCH TRANSACTION IS
EXEMPT FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND LAWS, SUCH COMPLIANCE, AT THE OPTION OF THE CORPORATION, TO BE EVIDENCED BY AN OPINION OF THE HOLDER’S COUNSEL, ACCEPTABLE TO THE CORPORATION, THAT NO VIOLATION OF SUCH REGISTRATION
PROVISIONS WOULD RESULT FROM ANY PROPOSED TRANSFER OR ASSIGNMENT. 
  

 4 

	13.	Representations and Warranties. 

  
 The Corporation hereby represents and warrants to the Holder hereof that: 
  
 (a) during the period that this Warrant is outstanding, the Corporation will reserve from its authorized and unissued common
stock a sufficient number of shares to provide for the issuance of Warrant Stock upon the exercise of this Warrant; 
  
 (b) the issuance of this Warrant shall constitute full authority to the Corporation’s officers who are charged with the duty of executing stock
certificates to execute and issue the necessary certificates for the shares of Warrant Stock issuable upon exercise of this Warrant; 
  
 (c) the Corporation has all requisite legal and corporate power to execute and deliver this Warrant, to sell and issue the Warrant Stock hereunder, and to
carry out and perform its obligations under the terms of this Warrant; 
  
 (d) all corporate action on the part of the Corporation, its directors and stockholders necessary for the authorization, execution, delivery and performance of this Warrant by the Corporation, the authorization, sale, issuance and delivery
of the Warrant Stock, the grant of registration rights as provided herein and the performance of the Corporation’s obligations hereunder has been taken; 
  
 (e) the Warrant Stock, when issued in compliance with the provisions of this Warrant and the Corporation’s Certificate of Incorporation (as they may
be amended from time to time), will be validly issued, fully paid and nonassessable, and free of all taxes, liens or encumbrances with respect to the issue thereof, and will be issued in compliance with all applicable federal and state securities
laws; and 
  
 (f) the issuance of the Warrant Stock will not be
subject to any preemptive rights, rights of first refusal or similar rights. 
  

	14.	Governing Law. 

  
 This Warrant shall be governed by and construed in accordance with the internal laws of the State of Nevada. 
  
 IN WITNESS WHEREOF, the Corporation has caused this Warrant to be executed by
its duly authorized officers. 
  
 Dated:
                    , 2005 
  

					
	 	 	 
			
	 By:
	 	 	 	 

					
		
	 (Name, Title)
	 	 

  

 5 

 NOTICE OF EXERCISE 
  

	To:	Spectral Molecular Imaging, inc. 

  

	(1)	The undersigned hereby elects to purchase shares of common stock of Spectral Molecular Imaging, Inc. pursuant to the terms of the attached Warrant and tenders herewith payment of
the purchase price in full, together with all applicable transfer taxes, if any. 

  

	(2)	In exercising this Warrant, the undersigned hereby confirms and acknowledges that the shares of common stock to be issued upon exercise hereof are being acquired solely for the
account of the undersigned and not as a nominee for any other party, and for investment and that the undersigned will not offer, sell or otherwise dispose of any such shares of common stock except under circumstances that will not result in a
violation of the Securities Act of 1933, as amended, or any state securities laws. 

  

	(3)	Please issue a certificate or certificates representing said shares of common stock in the name of the undersigned or in such other name as is specified below:

  

	
	
	 
	 (Name)

	
	 
	 (Address)

	
	 
	
	 
	 (Tax I.D. No.)

  

	(4)	The undersigned represents that (a) he, she or it is the original purchaser from the Corporation of the attached Warrant or an ‘accredited investor’ within the
meaning of Rule 501(a) under the Securities Act of 1933, as amended and (b) the aforesaid shares of common stock are being acquired for the account of the undersigned for investment and not with a view to, or for resale in connection with, the
distribution thereof and that the undersigned has no present intention of distributing or reselling such shares. 

  

			
	 Date: 
	 	 
	
	 
	 (Signature)

  

 6

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