Document:

EX-4.16

 Exhibit 4.16 

THIS PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. NO SALE OR DISPOSITION MAY BE EFFECTED EXCEPT IN COMPLIANCE WITH
RULE 144 UNDER SAID ACT OR AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR THE HOLDER, SATISFACTORY TO THE COMPANY, THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION. 
 PROMISSORY NOTE 

 

			
	 $1,000,000.00
	 	November 12, 2013

 For value received GENO, LLC, a Delaware limited liability company, with offices at 45
First Ave., Waltham, MA 02451 (“Borrower”), hereby unconditionally promises to pay, in lawful money of the United States of America, to JAK Trust, a Canadian Trust (“Lender”), the principal sum of One
Million Dollars ($1,000,000.00), together with accrued and unpaid interest thereon, each due and payable on the dates and in the manner set forth below. 

1. Repayment. 
 (a)
Unless this Promissory Note (this “Note”) has been repaid in full, the entire outstanding principal balance and all accrued and unpaid interest shall become fully due and payable on January 31, 2014 (the
“Maturity Date”). 
 (b) At any time on or after the Maturity Date, if all principal and interest outstanding
under this Note have not been paid in full, then the Lender may demand payment of the entire outstanding principal balance of this Note and all outstanding principal and unpaid accrued interest (a “Payment Demand”). 

2. Interest. Unpaid principal of this Note shall bear interest (computed on the basis of a year of 365 days of actual days elapsed),
from the date hereof until such principal is paid, at a rate per annum which shall be equal to six and one-quarter percent (6.25%). 
 3.
Prepayment. At any time prior to the Maturity Date, Borrower may pay this Note, in whole or in part.  
 4. Place of
Payment. All amounts payable hereunder shall be payable at the office of Lender at Lender’s address set forth below unless another place of payment shall be specified in writing by Lender. 

5. Default. Each of the following events shall be an “Event of Default” hereunder:

 (a) Borrower fails to pay, within five (5) business days of a Payment Demand by Lender, any and all unpaid principal, accrued
interest and other amounts owing hereunder; 

 (b) Borrower files any petition or action for relief under any bankruptcy, reorganization,
insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or 

(c) An involuntary petition is filed against Borrower (unless such petition is dismissed or discharged within 60 days) under any
bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee, assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of Borrower. 

6. Remedies. Upon the occurrence of any Event of Default, all unpaid principal on this Note, accrued and unpaid interest thereon and
all other amounts owing hereunder shall automatically be immediately due, payable and collectible by Lender pursuant to applicable law, without presentment, demand, protest or notice. Upon acceleration or maturity of this Note, interest on the
unpaid principal shall accrue at an annual rate of ten (10%) percent. This interest rate shall survive the entry of any judgment relating to this Note.  

7. Accredited Investor. Lender is an “accredited investor” within the meaning of Rule 501 of
Regulation D promulgated under the Securities Act of 1933, as amended. 
 8. Usury. In no event shall the interest rate or
rates payable under this Note, plus any other amounts paid in connection herewith and therewith, exceed the highest rate permissible under any law that a court of competent jurisdiction shall, in a final determination, deem applicable. Borrower and
Lender, in executing and delivering this Note, intend legally to agree upon the rate or rates of interest and manner of payment stated within it; provided, however, that, anything contained herein to the contrary notwithstanding, if
said rate or rates of interest or manner of payment exceeds the maximum allowable under applicable law, then, ipso facto, as of the date of this Note, Borrower is and shall be liable only for the payment of such maximum as allowed by law, and
payment received from Borrower in excess of such legal maximum, whenever received, shall be applied to reduce the principal balance of any remaining obligations to the extent of such excess. 

9. Borrower Representations. In connection with the execution of this Note, the Borrower represents to the Lender the following:

 (a) Organization, Standing and Qualification. The Borrower is a limited liability company that is duly organized, validly
existing, and in good standing under the laws of the State of Delaware and the Borrower has all necessary power and authority to own, lease and operate its properties and carry on its business as now operated and as proposed to be operated. The
Borrower is duly qualified to do business and is in good standing in all jurisdictions in which failure to so qualify would have a materially adverse effect upon the operations, financial condition and prospects of such entity. 

(b) Power and Authorization. The Borrower has all requisite limited liability company power to execute and deliver this Note and to
carry out and perform its obligations under the terms of this Note. All limited liability company action on the part of the  

  
 2. 

 
Borrower, its members and/or managers necessary for the authorization, execution and performance of this Note by the Borrower and the performance of the Borrower’s obligations hereunder has
been taken or will be taken prior to the execution of this Note. This Note, when executed and delivered by the Borrower, shall constitute valid and binding obligations of the Borrower enforceable in accordance with its terms, subject to laws of
general application relating to bankruptcy, insolvency, the relief of debtors and, with respect to rights to indemnity, subject to federal and state securities laws. 

(c) Consents. All consents, approvals, orders or authorizations of, or registrations, qualifications, designations, declarations or
filings with, any third parties or governmental authority, required on the part of the Borrower in connection with the valid execution and delivery of this Note or the consummation of any other transaction contemplated hereby shall have been
obtained or will be obtained prior to the execution of this Note, except for notices required or permitted to be filed with certain state and federal securities commissions, which notices will be filed on a timely basis. 

(d) Priority. This Note, the indebtedness evidenced by this Note and all payments or rights under this Note are senior to all
indebtedness or other monetary obligations of the Borrower outstanding as of the date of this Note, and Borrower shall not enter into any indebtedness that is senior to or pari-passu with the indebtedness evidenced by this Note without Lender’s
consent until all principal and interest due under this Note have been repaid in full.  
 10. Governing Law. This Note shall
be governed by, and construed and enforced in accordance with, the laws of the Commonwealth of Massachusetts, excluding conflict of laws principles that would cause the application of laws of any other jurisdiction. 

11. Expenses and Attorneys’ Fees. The Borrower shall indemnify and hold the Lender harmless from any loss, cost, liability and
legal or other expense, including attorneys’ fees of Lender’s counsel, which Lender may directly or indirectly suffer or incur by reason of the failure of the Borrower to perform any of its obligations under this Note. 

12. Amendment. This Note may be amended only with the written consent of Borrower and Lender.  

13. Waiver of Jury Trial. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY OF
ANY CLAIM, DEMAND, ACTION, CAUSE OF ACTION, OR PROCEEDINGS ARISING UNDER OR WITH RESPECT TO THIS NOTE, OR IN ANY WAY CONNECTED WITH, OR RELATED TO, OR INCIDENTAL TO, THE DEALING OF THE PARTIES HERETO WITH RESPECT TO THIS NOTE, IN EACH CASE WHETHER
NOW EXISTING OR HEREAFTER ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE. TO THE EXTENT EACH MAY LEGALLY DO SO, EACH PARTY HERETO HEREBY AGREES THAT ANY SUCH CLAIM, DEMAND, ACTION, OR PROCEEDING SHALL BE DECIDED BY A
COURT TRIAL WITHOUT A JURY AND THAT EITHER PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS NOTE WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF ANY OTHER PARTY HERETO TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 

  
 3. 

 14. Registered Form. This obligation is not transferrable or negotiable except in
accordance with the provisions of this section and is registered as to both principal and interest. Transfer of the obligation may be accomplished only by surrender of this Note and either the reissuance by the issuer of the Note or the
issuance by the issuer of a new Note to the new holder. This Note is intended to be treated as an obligation in registered form as defined in the Treasury Regulations Section 1.871-14(c)(1)(i)(A). Accordingly, this Note is not
negotiable by endorsement of the holder or any assignee of the holder. Prior to due presentment of this Note for transfer, the Borrower shall treat the Lender as the owner of such Note for the purpose of receiving payment of principal of and
interest on the Note and for all other purposes whatsoever, whether or not the principal or interest of the Note is due, and the Borrower shall not be affected by notice to the contrary. Upon due presentment for transfer of this Note, the
Borrower and the Lender shall execute and deliver in the name of the transferee or transferees a new promissory note for an aggregate principal amount equal to the total amount of principal and accrued but unpaid interest due to the holder at the
time of transfer. Any United States person who holds this obligation will be subject to limitations under the United States income tax laws, including the limitations provided in Sections 165(j) and 1287(a) of the United States Internal Revenue
Code. 
 15. Notices. All notices, demands, and other communications provided for or permitted hereunder shall be made in
writing and shall be by personal delivery, courier service, registered or certified first-class mail, return receipt requested, or telecopier to the addresses set forth below. All such notices, demands and communications shall be deemed to have been
duly given (a) when delivered by hand, if personally delivered; (b) when delivered by courier, if delivered by commercial overnight courier service; or (c) if mailed, five (5) business days after being deposited in the mail,
postage prepaid.  
 The Borrower: 

GeNO, LLC 
 45 First Ave. 

Waltham, MA 02451 
 Attention:
President 
 The Lender: 

JAK Trust 

  
 4. 

 IN WITNESS WHEREOF, the Borrower has caused this Note to be duly executed on the date
first set forth above. 
  

			
	
	BORROWER:
	
	GENO LLC
		
	By:	 	 /s/ Kurt A. Dasse

	Name:	 	Kurt A. Dasse
	Title:	 	President & CEO
	
	LENDER:
	
	JAK TRUST
		
	By:	 	 /s/ Theo Melas-Kyriazi

	Name:	 	Theo Melas-Kyriazi
	Title:	 	Director, JAK Trust

  
 5.EX-4.17

 Exhibit 4.17 

THIS WARRANT AND THE COMMON SHARES WHICH MAY BE PURCHASED UPON THE EXERCISE OF THIS WARRANT HAVE BEEN ACQUIRED SOLELY FOR INVESTMENT AND HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF SUCH REGISTRATION OR AN OPINION OF COUNSEL
REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH SALE, OFFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE ACT AND OF ANY APPLICABLE STATE SECURITIES LAWS. 

GENO LLC 
 COMMON SHARES WARRANT

  

			
	CS-58	 	 Issued as of November 12, 2013

Void after the Expiration Date   

 WARRANT TO PURCHASE COMMON SHARES 

For value received, GeNO LLC, a Delaware limited liability company (the “Company”), hereby certifies that David H.
Fine (the “Holder”), subject to the provisions and upon the terms and conditions hereinafter set forth, is entitled to subscribe for and purchase from the Company, at any time after the date hereof and before the Expiration Date
(as defined below), up to Twenty-Five Thousand (25,000) Common Shares of the Company (the “Shares”). This Warrant is issued by the Company in connection with the issuance of a promissory note on the date hereof from the
Company to the Holder (the “Promissory Note”). In the event that the Company converts to a corporation pursuant to Section 13 of the Company Operating Agreement, the successor corporation shall issue to the Holder a replacement
warrant containing terms and conditions substantially similar to this Warrant. Upon the issuance of such replacement warrant, this Warrant shall automatically terminate and no longer be of any force or effect. 

1. Definitions. As used in this Warrant: 

“Company Operating Agreement” means that certain Eighth Amended and Restated Limited Liability Company
Agreement of the Company, dated as of September 20, 2013, as the same may be amended from time to time. 

“Exercise Price” means the initial offering price per share for shares offered for sale to the public in the
Company’s initial public offering. 
 “Expiration Date” means the earlier of (a) a Liquidation
Event or (b) November 11, 2018. 

 “Liquidation Event” shall have the meaning ascribed to it in the
Company Operating Agreement. 
 “Person” means an individual, firm, corporation, partnership, association,
limited liability company, trust, governmental entity or any other entity. 
 “Securities Act” means the
Securities Act of 1933, as amended. 
 2. Method of Exercise and Payment; Conditions to Exercise. 

(a) Method of Exercise and Payment. The purchase rights represented by this Warrant may be exercised by the Holder, in whole or in part,
by the surrender of this Warrant (with the notice of exercise form attached hereto as Exhibit A duly executed) at the principal office of the Company, and by the payment to the Company, by wire transfer of immediately available funds, of
an amount equal to the aggregate Exercise Price of the Shares being purchased. 
 (b) Conditions to Exercise. As a condition to the
exercise of this Warrant (unless otherwise waived in writing by the Company), the Holder shall reaffirm the representations and warranties as provided in Section 5 of this Warrant. 

(c) Fractional Shares. This Warrant may not be exercised for fractional shares. 

3. Shares Fully Paid. All of the Shares issuable upon the exercise of the rights represented by this Warrant will, upon issuance and
receipt of the Exercise Price therefor, be fully paid and nonassessable, and free from all taxes, liens, claims, encumbrances and charges with respect to the issue thereof provided the Shares are issued to the registered Holder. 

4. Adjustment of Exercise Price and Number of Common Shares. The number and kind of securities purchasable upon the exercise of this
Warrant and the Exercise Price shall be subject to adjustment from time to time upon the occurrence of certain events, as follows: 
 (a)
Reclassification or Merger. In case of any reclassification or change of securities of the class issuable upon exercise of this Warrant, or in case of any merger of the Company with or into another corporation (other than a merger with
another entity in which the Company is the acquiring and the surviving entity and which does not result in any reclassification or change of outstanding securities issuable upon exercise of this Warrant), or in case of any sale of all or
substantially all of the assets of the Company, the Company, or such successor or purchasing corporation, as the case may be, shall duly execute and deliver to the Holder a new Warrant (in form and substance satisfactory to the Holder), so that the
Holder shall have the right to receive upon exercise of this Warrant, at a total purchase price not to exceed that payable upon the exercise of the unexercised portion of this Warrant, and in lieu of the Common Shares theretofore issuable upon
exercise of this Warrant, (i) the kind and amount of units, shares of stock, other securities, money and property receivable upon such reclassification, change, merger or sale by a holder of the number of Common Shares then purchasable under
this Warrant, or (ii) in the case of such a merger or sale in which the consideration paid consists all or in part of assets other than securities of the successor or purchasing corporation or other legal

  
 - 2 - 

 
entity, at the option of the Holder, the securities of the successor or purchasing corporation or other legal entity having a value at the time of the transaction equivalent to the value of the
Common Shares purchasable upon exercise of this Warrant at the time of the transaction. Any new Warrant shall provide for adjustments that shall be as nearly equivalent as may be practicable to the adjustments provided for in this
Section 4. The provisions of this Section 4 shall similarly apply to successive reclassifications, changes, mergers and sales. 

(b) Subdivision or Combination of Common Shares. If the Company at any time while this Warrant remains outstanding and unexpired shall
subdivide or combine its outstanding Common Shares, the Exercise Price shall be proportionately decreased and the number of Common Shares issuable hereunder shall be proportionately increased in the case of a subdivision and the Exercise Price shall
be proportionately increased and the number of Common Shares issuable hereunder shall be proportionately decreased in the case of a combination. 

(c) Dividends and Other Distributions. If the Company at any time while this Warrant is outstanding and unexpired shall pay a dividend
with respect to Common Shares payable in Common Shares, then the Exercise Price shall be adjusted, from and after the date of determination of shareholders entitled to receive such dividend or distribution, to that price determined by multiplying
the Exercise Price in effect immediately prior to such date of determination by a fraction (i) the numerator of which shall be the total number of Common Shares outstanding immediately prior to such dividend or distribution, and (ii) the
denominator of which shall be the total number of Common Shares outstanding immediately after such dividend or distribution. 
 (d)
Adjustment of Number of Common Shares. Upon each adjustment in the Exercise Price, the number of Common Shares purchasable hereunder shall be adjusted, to the nearest whole Common Share, to the product obtained by multiplying the number of
Common Shares purchasable immediately prior to such adjustment in the Exercise Price by a fraction, the numerator of which shall be the Exercise Price immediately prior to such adjustment and the denominator of which shall be the Exercise Price
immediately thereafter. 
 (e) Notice of Adjustment. Whenever the Exercise Price or the number of Common Shares purchasable hereunder
shall be adjusted pursuant to this Section 4, the Company shall make a certificate signed by its chief financial officer setting forth, in reasonable detail, the event requiring the adjustment, the amount of the adjustment, the method by
which such adjustment was calculated, and the Exercise Price and the number of Common Shares purchasable hereunder after giving effect to such adjustment, and shall cause copies of such certificate to be mailed to the Holder. 

5. Representations and Warranties by the Holder. The Holder represents and warrants to the Company as follows (it being understood
that, as provided in Exhibit A, a condition to any exercise of this Warrant shall be that the following be updated as of the date of exercise): 

(a) This Warrant and the Shares issuable upon exercise of this Warrant are being acquired for its own account, for investment and not with a
view to, or for resale in 

  
 - 3 - 

 
connection with, any distribution or public offering thereof within the meaning of the Securities Act. Upon exercise of this Warrant, the Holder shall, if so requested by the Company, confirm in
writing, in a form satisfactory to the Company, that the securities issuable upon exercise of this Warrant are being acquired for investment and not with a view toward distribution or resale. 

The Holder understands that the Warrant and the Shares have not been registered under the Securities Act by reason of their issuance in a
transaction exempt from the registration and prospectus delivery requirements of the Securities Act pursuant to Section 4(2) thereof, and that they must be held by the Holder indefinitely, and that the Holder must therefore bear the
economic risk of such investment indefinitely, unless a subsequent disposition thereof is registered under the Securities Act or is exempted from such registration. 

(b) The Holder has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of
the purchase of this Warrant and the Shares purchasable pursuant to this Warrant and of protecting its interests in connection therewith 

(c) The Holder is able to bear the economic risk of the purchase of the Shares purchasable pursuant to this Warrant. 

(d) The Holder is an “accredited investor,” as such term is defined under Rule 501 promulgated pursuant to the Securities Act.

 6. Company Operating Agreement; Transfer Restrictions. This Warrant (and the Common Shares purchasable hereunder) shall only be
transferable to the same extent any Common Shares held by the Holder are transferable under the Company Operating Agreement, and this Warrant (and the Common Shares purchasable hereunder) shall be subject to the same transfer restrictions applicable
to the Common Shares under the Company Operating Agreement. The Common Shares acquired pursuant to exercise of this Warrant shall be fully subject to all of the terms and conditions contained in the Operating Agreement, and the Holder hereby
acknowledges that it has read and understands the terms and conditions contained therein. 
 7. Rights of Members. The Holder shall
not be entitled, as a Warrant holder, to vote or receive dividends or be deemed the holder of the Shares or any other securities of the Company which may at any time be issuable on the exercise hereof for any purpose, nor shall anything contained
herein be construed to confer upon the Holder any of the rights of a member of the Company or any right to vote for the election of managers or upon any matter submitted to members at any meeting thereof, or to give or withhold consent to any
limited liability company action, to receive notice of meetings, or to receive dividends or subscription rights or otherwise until the Warrant shall have been exercised and the Shares purchasable upon the exercise hereof shall have been delivered,
as provided herein. 
 8. Expiration or Termination of Warrant; Notice of Liquidation Event. This Warrant shall expire and shall no
longer be exercisable upon the Expiration Date. If the Company proposes at any time to effect a Liquidation Event, the Company shall give the Holder at least ten (10) days prior written notice of the date when the same will take place (and, in
the case of a Liquidation Event, specifying the date on which Members will be entitled to exchange their 

  
 - 4 - 

 
shares for the securities or other property deliverable upon the occurrence of such event). In the event of a Liquidation Event, as an alternative to providing notice to the Holder, the Company
shall have the right to terminate this Warrant in exchange for the payment to the Holder of consideration in an aggregate amount equal to the excess of the fair market value (as reasonably determined by the Company’s Board of Managers) of the
Shares over the aggregate Exercise Price thereof (the form of such consideration to be in the same form received by members for their Common Shares). 

9. Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be effective when given
as set forth in the Promissory Note. 
 10. Miscellaneous. This Warrant and all actions arising out of or in connection with this
Warrant shall be governed by and construed in accordance with the laws of the State of Delaware, without regard to the conflicts of law provisions of the State of Delaware or of any other state. This Warrant and any term hereof may be changed,
waived, discharged or terminated only by an instrument in writing signed by the Holder and the Company. The headings in this Warrant are for purposes of reference only, and shall not limit or otherwise affect any of the terms hereof. 

 

			
	GENO LLC
		
	By:	 	 /s/ Kurt A. Dasse

	Name:	 	Kurt A. Dasse
	Title:	 	President & CEO

 ACKNOWLEDGED BY: 
  

			
	By:	 	 /s/ David H. Fine

	Name:	 	David H. Fine

  
 - 5 - 

 EXHIBIT A 

NOTICE OF EXERCISE 
 GeNO LLC 

45 First Ave. 
 Waltham, MA 02451 

Attention: President 
 1. The undersigned hereby
elects to purchase                  Common Shares of GeNO LLC (the “Company”) pursuant to the terms of the attached Warrant. 

2. The undersigned hereby tenders herewith payment in full for the purchase price of the Shares being purchased, together with all applicable
transfer taxes, if any. 
 3. The undersigned hereby represents and warrants that the aforesaid Shares 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 and all representations and warranties of
the undersigned set forth in Section 5 of the attached Warrant are true and correct as of the date hereof. 
 4. As a condition
to receiving the Shares being purchased, the undersigned acknowledges and agrees to enter into the Company Operating Agreement as a Member (if not already a Member). 
  

			
	  

		
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