Document:

Employment Agreement between Joseph S. Rinando, III and Halcon Resources Corp.

 Exhibit 10.5 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (the
“Agreement”) is made and entered into as of June 1, 2012, (the “Effective Date”) by and between HALCÓN RESOURCES CORPORATION, a Delaware corporation (the “Company”) and Joseph S. Rinando, III (the
“Executive”). 
 WITNESSETH: 
 WHEREAS, the parties desire to enter into this Agreement pertaining to the employment of the Executive by the Company. 
 NOW, THEREFORE, in consideration of the foregoing, of the mutual promises herein contained, and of other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties, intending to be legally bound, agree as follows: 
 1. Term of Employment. Unless
earlier terminated as provided in paragraph 10, the Company shall employ the Executive in the capacity set forth herein, commencing on the Effective Date and ending on December 31, 2013 (the “Initial Term”), provided, however, that
the term shall be automatically extended for successive one-year periods (each such period an “Extension Term” and, collectively with the Initial Term, the “Term”) unless either party provides written notice to the other party of
non-extension of the Term not less than 30 calendar days before the end of the Initial Term or, as applicable, the then-current Extension Term. A timely notice of non-extension of the Term by the Company shall be considered a termination by the
Company without Cause for purposes of paragraph 10. A timely notice of non-extension of the Term by the Executive shall be considered a termination by the Executive without Good Reason for purposes of paragraph 10. 

2. Duties of the Executive. During the Term, the Executive shall serve as Vice President—Chief Accounting Officer of
the Company and shall devote his full time, attention, and effort to performing the customary duties and responsibilities of such office, including those duties and responsibilities assigned to him by the Chief Financial Officer of the Company from
time to time. The Executive agrees to use his best efforts to perform all duties and responsibilities that are required to fully and faithfully execute the offices and positions held by him. The Executive shall be entitled to devote a reasonable
amount of time to civic and community affairs and the management of his personal investments so long as these other activities do not, in the judgment of the Board of Directors of the Company (the “Board”) or the Chief Executive Officer of
the Company, inhibit or prohibit the performance of the Executive’s duties hereunder or violate any provisions of this Agreement or policies of the Company, including, but not limited to those provisions relating to non-competition and
non-disclosure. Unless otherwise agreed to by the Company and the Executive, the Executive shall be based at the Company’s principal executive offices located in the metropolitan area of Houston, Texas. 

 3. Compensation. As compensation for the services to be rendered by the
Executive for and on behalf of the Company hereunder, the Executive shall be entitled to the following (collectively referred to hereinafter as the “Total Compensation”): 

 

	 	(a)	Base Salary. A base salary at an annual rate of two hundred sixty thousand dollars ($260,000) (as adjusted in accordance with the provisions of this Agreement,
the “Base Salary”) will be paid to the Executive at such intervals as may be established by the Company for payment of its employees under its normal payroll practices. Base Salary payments shall be subject to all applicable federal and
state withholding, payroll and other taxes, and all applicable deductions for benefits as may be required by law or Executive’s authorization. The Base Salary shall be reviewed periodically by the Compensation Committee of the Board (the
“Compensation Committee”) and may be increased from time to time as the Compensation Committee may deem appropriate. 

  

	 	(b)	Bonus. In addition to the Base Salary, the Executive shall be eligible to receive one or more cash bonuses to be determined by the Compensation Committee in its
sole discretion based on performance criteria to be adopted by the Compensation Committee. Any such bonus shall be paid to the Executive no later than the 15th day of the third calendar month following the fiscal year (or other performance period)
with respect to which the bonus relates. 

 4. Other Benefits. In addition to the Total Compensation
to be paid to the Executive as provided for herein, the Executive shall also be entitled to the following benefits: 
  

	 	(a)	Equity Compensation. The Executive may, as determined by the Compensation Committee in its discretion, periodically receive grants of stock options, restricted
stock or other equity-related awards from the Company’s various equity compensation plans, subject to the terms and conditions thereof. 

  

	 	(b)	Business Expenses. The Company shall reimburse the Executive for all reasonable business expenses incurred by the Executive in the performance of his duties,
provided that the Executive provides adequate documentation required by law and by the policies and procedures of the Company, as adopted and amended from time to time, provided that in no event shall the Executive submit any required documentation
later than 60 days after the end of the calendar year in which such expense was incurred. Any such reimbursement shall be made as soon as reasonably practicable but in no event later than the 15th day of the third month following the calendar year
in which the applicable expense was incurred. The Executive acknowledges and agrees that all such expenses will be subject to the oversight of the Audit Committee of the Board. 

	 	(c)	Other Benefits. Except as otherwise specifically provided to the contrary in this Agreement, the Executive shall be provided with retirement, welfare and other
benefits to the same extent and on the same terms as those benefits are provided by the Company from time to time to the Company’s other senior executive officers, including, but not limited to, vacation, participation in various health,
retirement, life insurance, disability insurance or other employee benefit plans or programs, subject to regular eligibility requirements with respect to each such benefit plans or programs, as well as other benefits or perquisites as may be
approved by the Board; provided, however, that the Company shall not be required to provide a benefit under this subparagraph (c) if such benefit would duplicate (or otherwise be of the same type as) a benefit specifically required to be
provided under another provision of this Agreement. In addition, the Executive shall be provided with the benefits set forth on Exhibit A, if any. 

 5. Confidential Information. The Executive acknowledges that, during the course of his employment, he will have access to and will receive information which constitutes trade secrets, is of
a confidential nature, is of great value to the Company and/or is a foundation on which the business of the Company is predicated. With respect to all such Confidential Information (as defined hereafter), the Executive agrees, during the Term and
thereafter, not to disclose such Confidential Information to any person other than an employee, counsel or advisor of the Company or a person to whom disclosure is reasonably necessary or appropriate in connection with the performance by the
Executive of his duties hereunder nor to use such Confidential Information for any purpose other than the performance of his duties hereunder. For purposes of this Agreement, “Confidential Information” shall include all data or material
(regardless of form) with respect to the Company or any of its assets, prospects, business activities, officers, directors, employees, borrowers, or clients which is: (a) a trade secret, as defined by the Uniform Trade Secrets Act;
(b) provided, disclosed, or delivered to the Executive by the Company, any officer, director, employee, agent, attorney, accountant, consultant, or other person or entity employed by the Company in any capacity, any client, borrower, advisor,
or business associate of the Company, or any public authority having jurisdiction over the Company or any business activity conducted by the Company; or (c) produced, developed, obtained or prepared by or on behalf of the Executive or the
Company (whether or not such information was developed in the performance of this Agreement). Notwithstanding the foregoing, the term “Confidential Information” shall not include any information, data or material which, at the time of
disclosure or use, was generally available to the public other than by a breach of this Agreement, was available to the party to whom disclosed on a non-confidential basis by disclosure or access provided by the Company or a third party without
breaching any obligations of the Company or such third party, or was otherwise developed or obtained legally and independently by the person to whom disclosed without a breach of this Agreement. This paragraph shall not preclude the Executive from
disclosing Confidential Information if compelled to do so by law or valid legal process, provided that if the Executive believes the Executive is so compelled by law or valid legal process, the Executive will notify the Company in writing
sufficiently in advance of any such disclosure to allow the Company the opportunity to defend, limit, or otherwise protect its interests against such disclosure unless such notice is prohibited by law. The rights and obligations of the parties under
this paragraph shall survive the expiration or termination of this Agreement for any reason. 

 6. Proprietary Matters. The Executive expressly agrees that any and all
improvements, inventions, discoveries, processes, or know-how that are generated or conceived by the Executive during the Term, whether conceived during the Executive’s regular working hours or otherwise, will be the sole and exclusive property
of the Company. Whenever requested by the Company (either during the Term or thereafter), the Executive will assign or execute any and all applications, assignments and/or other documents, and do all things which the Company reasonably deems
necessary or appropriate, in order to permit the Company to: (a) assign and convey, or otherwise make available to the Company, the sole and exclusive right, title, and interest in and to said improvements, inventions, discoveries, processes or
know-how; or (b) apply for, obtain, maintain, enforce and defend patents, copyrights, trade names, or trademarks of the United States or of foreign countries for said improvements, inventions, discoveries, processes, or know-how. However, the
improvements, inventions, discoveries, processes, or know-how generated or conceived by the Executive and referred to in this paragraph (except those which may be included in the patents, copyrights, or registered trade names or trademarks of the
Company) will not be exclusive property of the Company at any time after having been disclosed or revealed or have otherwise become available to the public or to a third party on a non-confidential basis other than by a breach of this Agreement, or
after they have been independently developed or discussed without a breach of this Agreement by a third party who has no obligation to the Company. The rights and obligations of the parties under this paragraph shall survive the expiration or
termination of this Agreement for any reason. 
 7. Non-Competition. As part of the consideration for the
compensation and benefits to be paid to the Executive hereunder, and in order to protect the Confidential Information, business goodwill and business opportunities of the Company, the Executive agrees that, during the Term, he will not, directly or
indirectly, engage in or become interested financially in, as a principal, employee, partner, contractor, shareholder, agent, manager, owner, advisor, lender, guarantor, officer, or director, any business (other than the Company) that is engaged in
leasing, acquiring, exploring, producing, gathering, or marketing hydrocarbons and/or related products; provided, however, that the Executive shall be entitled to continue to invest in those entities as set forth on Exhibit B, if any, and to invest
in stocks, bonds, or other securities in any such business (without participating in such business) if: (a) such stocks, bonds, or other securities are listed on any United States securities exchange or are publicly traded in an over the
counter market; and such investment does not exceed, in the case of any capital stock of any one issuer, five percent of the issued and outstanding capital stock, or in the case of bonds or other securities, five percent of the aggregate principal
amount thereof issued and outstanding; or (b) such investment is completely passive and no control or influence over the management or policies of such business is exercised. 

 8. Non-Solicitation. Executive agrees that he will not, at any time during the
Term, or at any time within six months after the termination of his employment, for his own account or benefit or for the account or benefit of any other person, firm or entity, directly or indirectly, solicit for employment any employee of the
Company (or any person who was an employee of the Company in the 90-day period before such solicitation) or induce any employee of the Company (or any person who was an employee of the Company in the 90-day period before such inducement) to
terminate his employment with the Company. Notwithstanding the above, the restrictions relating to persons employed in the 90-day period referenced in the parentheticals in the immediately preceding sentence shall not apply to a person who was a
party to an employment agreement with the Company and who terminates his employment for Good Reason or is terminated by the Company without Cause. The rights and obligations of the parties under this paragraph shall survive the expiration or
termination of this Agreement for any reason. 
 9. Injunctive Relief. The Executive acknowledges and agrees that
any violation of paragraphs 5-8 of this Agreement would result in irreparable harm to the Company and, therefore, agrees that, in the event of an actual, suspected, or threatened breach of paragraphs 5-8 of this Agreement, the Company shall be
entitled to an injunction restraining the Executive from committing or continuing such actual, suspected or threatened breach. The parties acknowledge and agree that the right to such injunctive relief shall be cumulative and shall not be in lieu
of, or be construed of a waiver of the Company’s right to pursue, any other remedies to which it may be entitled in law or in equity. The parties agree that for purposes of paragraph 5-8 of this Agreement, the term “Company” shall
include the Company and its Affiliates. 
 10. Termination of Employment. The Executive’s employment
by the Company and this Agreement may be terminated before the expiration of the Term, without breach of this Agreement, in accordance with the provisions set forth below: 

 

	 	(a)	Death. If the Executive dies during the Term and while in the employ of the Company, his employment and this Agreement shall automatically terminate and the
Company shall be relieved of all of its obligations to the Executive or his estate under this Agreement, except that the Company shall pay to the Executive’s estate any unpaid portion of the Executive’s Base Salary and benefits accrued
through the date of death, and at the discretion of the Compensation Committee, a bonus, if any. These amounts, if any, shall be paid at the time and in the manner required by applicable law but in no event later than 30 days after the date of the
Executive’s death or, with respect to benefits accrued, the date provided for under the terms of the employee benefit plan under which such benefits were accrued. In addition, all stock options and other incentive awards held by the Executive
will become fully vested and immediately exercisable and all restrictions on any restricted stock held by the Executive will be removed. 

	 	(b)	Inability to Perform. The Company may terminate the Executive’s employment and this Agreement in the event of the Executive’s Inability to Perform. For
this purpose, “Inability to Perform” means and shall be deemed to have occurred if the Executive has been determined under the Company’s or an Affiliates’ long-term disability plan to be eligible for long-term disability benefits
or, in the event the Company or an Affiliate does not maintain such a plan or in the absence of Executive’s participation in or application for benefits under such a plan, such term shall mean the inability of the Executive, despite any
reasonable accommodation required by law, due to bodily injury or disease or any other physical or mental incapacity, to perform the services required hereunder for a period of 120 consecutive days. In the event of a termination pursuant to this
paragraph 10(b), the Company shall be relieved of all of its obligations under this Agreement, except that the Company shall pay to the Executive, or his estate in the event of his subsequent death, any unpaid portion of the Executive’s Base
Salary and benefits accrued through the date of such termination and, at the discretion of the Compensation Committee, a bonus, if any. These amounts, if any, shall be paid at the time and in the manner required by applicable law but in no event
later than 30 days after the date of termination or, with respect to benefits accrued, the date provided for under the terms of the employee benefit plan under which such benefits were accrued. In addition, upon any such termination, all stock
options and other incentive awards held by the Executive will become fully vested and immediately exercisable and all restrictions on any restricted stock held by the Executive will be removed. 

 

	 	(c)	Termination by the Company for Cause. The Company may terminate the Executive’s employment and this Agreement for Cause (defined hereafter), but only after:
(i) giving the Executive written notice of the failure or conduct which the Company believes to constitute Cause; and (ii) with respect to elements (1) through (5) below, providing the Executive a reasonable opportunity, and in
no event more than 30 days, to cure such failure or conduct, unless the Board determines in its good faith judgment that such failure or conduct is not reasonably capable of being cured. In the event the Executive does not cure the alleged failure
or conduct within the time frame provided for such cure by the Company, the Company shall send him written notice specifying the effective date of termination. The failure by the Company to set forth in the notice referenced in this paragraph 10(c)
any fact or circumstance which contributes to a showing of Cause shall not waive any right of the Company to assert, or preclude the Company from asserting, such fact or circumstance in enforcing its rights hereunder. For purposes of this Agreement,
“Cause” shall mean: 

  

	 	(1)	The willful failure by the Executive to perform his duties in any material respect as required hereunder (other than any such failure resulting from Executive’s
incapacity due to physical or mental illness or disability) or the commission by Executive of an act of willful misconduct in any material respect with respect to the Company; or 

	 	(2)	The engaging by Executive in conduct which is demonstrably and materially injurious to the Company and/or its Affiliates; or 

 

	 	(3)	The willful engaging, or failure to engage, by the Executive in conduct which is in material violation of any term of this Agreement or the terms of any of the
Company’s written policies and procedures; or 

  

	 	(4)	the Executive’ breach of duty (other than inadvertent acts or omissions) involving fraud, dishonesty, disloyalty, or a conflict of interest; or

  

	 	(5)	The Executive’s failure to cooperate with any investigation or inquiry authorized by the Company or an Affiliate or conducted by a governmental authority related
to the Company’s or an Affiliate’s business or the Executive’s conduct; or 

  

	 	(6)	The Executive’s conviction of, or entry of a plea agreement or consent decree or similar arrangement with respect to, any felony, any crime involving deceit,
fraud, perjury or embezzlement, or any violation of federal or state securities laws. 

 For purposes of this
paragraph 10(c), no act, or failure to act, shall be deemed “willful” unless done, or omitted to be done, by the Executive not in good faith and without reasonable belief that the Executive’s action or omission was in the best
interest of the Company. 
 In the event of a termination pursuant to this paragraph 10(c), the Executive shall be entitled to no
severance or other termination benefits and the Company shall be relieved of all of its obligations under this Agreement, except that the Company shall pay to the Executive any unpaid portion of the Executive’s Base Salary and benefits accrued
through the date of such termination. These amounts, if any, shall be paid at the time and in the manner required by applicable law but in no event later than 30 days after the date of termination or, with respect to benefits accrued, the date
provided for under the terms of the employee benefit plan under which such benefits were accrued. 
 The Company may suspend
Executive with pay pending an investigation authorized by the Company or an Affiliate or a governmental authority or a determination whether the Executive has engaged in acts or omissions constituting Cause, and such paid suspension shall not
constitute Good Reason or a termination of the Executive’s employment. 

	 	(d)	Termination by the Company Without Cause. The Company may also terminate the Executive’s employment and this Agreement without Cause by providing at least
30 days’ written notice of such termination to the Executive. A termination of the Executive’s employment and this Agreement by the Company without Cause shall entitle the Executive to payments and other benefits as specified in
paragraph 10(g) or 10(h), as applicable. 

  

	 	(e)	Termination by the Executive for Good Reason. The Executive shall be entitled to terminate his employment and this Agreement at any time for “Good
Reason” (defined hereafter). A termination of employment and this Agreement by the Executive for Good Reason shall entitle the Executive to payments and other benefits as specified in paragraph 10(g) or 10(h), as applicable. For purposes of
this Agreement, “Good Reason” shall mean, subject to the notice and cure provisions below, any of the following actions if taken without the Executive’s prior consent: (i) a material reduction in the Executive’s Base Salary;
(ii) a material reduction in the Executive’s authority, responsibilities or duties; (iii) a material reduction in the authority, responsibilities or duties of the supervisor to whom the Executive is required to report; (iv) a
material reduction in the budget over which the Executive retains authority; (v) a permanent relocation of the Executive’s principal place of employment to any location outside of a fifty mile radius of the location from which the
Executive served the Company immediately prior to the relocation, provided such relocation is a material change in the geographic location at which the Executive must provide services for purposes of Code Section 409A and the regulations
thereunder; or (vi) any other action or inaction that constitutes a material breach by the Company of this Agreement provided, however that during the Change in Control period, “Good Reason” shall include, in addition, Executive no
longer being the sole and highest ranking Chief Accounting Officer of the Company and its Affiliates, excluding such office or position that may exist at an Affiliate which office or position reports to or is subordinate to Executive. To exercise
the option to terminate employment for Good Reason, the Executive must provide written notice to the Company of the Executive’s belief that Good Reason exists within 60 days of the initial existence of the Good Reason condition, and that notice
shall describe in reasonable detail the condition(s) believed to constitute Good Reason. The Company then shall have 30 days to remedy the Good Reason condition(s). If not remedied within that 30-day period or if the Company notifies the Executive
that it does not intend to cure such condition(s) before the end of that 30-day period, the Executive may submit a notice of termination to the Company; provided, however, that the notice of termination invoking the Executive’s option to
terminate employment for Good Reason must be given no later than 100 days after the date the Good Reason condition first arose; otherwise, the Executive is deemed to have accepted the condition(s), or the Company’s correction of such
condition(s), that may have given rise to the existence of Good Reason. 

	 	(f)	Termination by the Executive Without Good Reason. The Executive may also terminate his employment and this Agreement without Good Reason by providing at least 30
days’ written notice of such termination to the Company. In the event of a termination pursuant to this paragraph 10(f), the Executive shall be entitled to no severance or other termination benefits and the Company shall be relieved of all of
its obligations under this Agreement, except that the Company shall pay to the Executive any unpaid portion of the Executive’s Base Salary and benefits accrued through the date of such termination. These amounts, if any, shall be paid at the
time and in the manner required by applicable law but in no event later than 30 days after the date of termination or, with respect to benefits accrued, the date provided for under the terms of the employee benefit plan under which such benefits
were accrued. At the Company’s option, the Company may accelerate the date of the Executive’s termination of employment by paying to the Executive the Base Salary and value of the benefits that the Executive would have received during the
period by which the date of termination is so accelerated and such acceleration shall not change the characterization of the termination from one by Executive without Good Reason. 

 

	 	(g)	Termination by the Executive for Good Reason or by the Company without Cause During Change in Control Period. In the event that (i) the Executive terminates
his employment and this Agreement for Good Reason during a “Change in Control Period,” which is defined as the period beginning on the date of the occurrence of a Change in Control and ending on the second anniversary of such date or
(ii) the Company terminates the Executive’s employment and this Agreement without Cause during a Change in Control Period, then, subject to paragraph 22, the following shall occur: 

 

	 	(1)	The Company shall pay the Executive any unpaid portion of the Executive’s Base Salary and benefits accrued through the date of termination. These amounts, if any,
shall be paid at the time and in the manner required by applicable law but in no event later than 30 days after the date of termination or, with respect to benefits accrued, the date provided for under the terms of the employee benefit plan under
which such benefits were accrued. 

  

	 	(2)	The Company shall pay the Executive an amount equal to the greater of (i) a pro rata amount of the Executive’s target bonus for the year in which the date of
termination occurs or (ii) a bonus for such year as may be determined by the Compensation Committee in its sole discretion. This amount shall be paid in the form of a lump sum as soon as practicable after the date of termination, but no later
than March 15 of the year immediately following the year in which the date of termination occurs. 

	 	(3)	The Company shall pay the Executive a lump sum severance payment equal to the sum of the following: (i) an amount equal to 2 multiplied by the greater of
(A) the Executive’s Base Salary in effect as of the date of termination (or, if greater, before any reduction during the Change in Control Period) or (B) the Executive’s Base Salary in effect immediately before the Change in
Control, plus (ii) an amount equal to 2 multiplied by the greater of (A) the bonus payable to the Executive for the year in which the date of termination occurs (provided that if the Executive’s bonus for such year has not been
determined as of the date of termination, then the amount of the bonus shall be determined as if the Executive earned 100% of the target bonus for such year, to the extent a target bonus exists), (B) the bonus paid to the Executive for the year
immediately preceding the year in which the date of termination occurs, or (C) the bonus paid to the Executive for the year immediately preceding the year in which the Change in Control occurs. This amount shall be paid within five business
days after the Release (defined in paragraph 22) becomes effective and enforceable but in no event later than 60 days after the date of termination. 

  

	 	(4)	Should the Executive timely elect to continue coverage under a group health insurance plan sponsored by the Company or one of its Affiliates and timely make the premium
payments, reimburse Executive on a monthly basis for the cost of continued coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 or other applicable law (“COBRA”) for Executive and any eligible dependents until the
earlier of (A) the date Executive is no longer entitled to continuation coverage under COBRA or (B) for 18 months after the date of termination. The first reimbursement shall not be paid before five business days after the Release (defined
in paragraph 22) becomes effective and enforceable. 

  

	 	(5)	All stock options and other incentive awards held by the Executive will become fully vested and immediately exercisable and all restrictions on any restricted stock
held by the Executive will be removed. 

 In addition to the items referenced in clauses (1)-(5) above, if a
bonus for the Executive for the year immediately preceding the year in which the date of termination occurs has been determined but not paid as of the date of termination, then the Executive shall be paid the bonus for such year in the amount so
determined. This amount shall be paid in the form of a lump sum as soon as practicable after the date of termination, but no later than March 15 of the year immediately following the year in which the date of termination occurs. If a bonus for
the Executive for the year immediately preceding the year in which the date of termination occurs has not been determined as of the date of termination, 

 
then the Executive shall be paid a bonus for such year in an amount equal to the greater of (i) 100% of the Executive’s target bonus for such year, (ii) 100% of the
Executive’s target bonus for the year in which the date of termination occurs, (iii) the bonus paid to Executive for the year in which the Change in Control occurs, or (iv) the bonus paid to Executive for the year immediately
preceding the year in which the Change in Control occurs. This amount shall be paid in the form of a lump sum as soon as practicable after the date of termination, but no later than March 15 of the year immediately following the year in which
the date of termination occurs. 
  

	 	(h)	Termination by the Executive for Good Reason or by the Company without Cause Outside a Change in Control Period. In the event that (i) the Executive
terminates his employment and this Agreement for Good Reason or (ii) the Company terminates the Executive’s employment and this Agreement without Cause, and in either instance, such termination does not occur during a Change in Control
Period, then, subject to paragraph 22, the following shall occur: 

  

	 	(1)	The Company shall pay the Executive any unpaid portion of the Executive’s Base Salary and benefits accrued through the date of termination, and at the discretion
of the Compensation Committee, a bonus, if any. These amounts, if any, shall be paid at the time and in the manner required by applicable law but in no event later than 30 days after the date of termination or, with respect to benefits accrued, the
date provided for under the terms of the employee benefit plan under which such benefits were accrued. 

  

	 	(2)	The Company shall pay the Executive an amount equal to the greater of (i) a pro rata amount of the Executive’s target bonus for the year in which the date of
termination occurs or (ii) such bonus for such year as may be determined by the Compensation Committee in its sole discretion. This amount shall be paid in the form of a lump sum as soon as practicable after the date of termination, but no
later than March 15 of the year immediately following the year in which the date of termination occurs. 

  

	 	(3)	 The Company shall pay the Executive a lump sum severance payment equal to the sum of the following: (i) an amount equal to the Executive’s
Base Salary in effect as of the date of termination (or, if greater, before any reduction in the year immediately preceding the date of termination) plus (ii) an amount equal to the greater of (A) the bonus payable to the Executive for the
year in which the date of termination occurs (provided that if the Executive’s bonus for such year has not been determined as of the date of termination, then the amount of the bonus shall be determined as if the Executive earned 100% of the
target bonus for such year, to the 

	 	
extent a target bonus exists) or (B) the bonus paid to the Executive for the year immediately preceding the year in which the date of termination occurs. This amount shall be paid within
five business days after the Release (defined in paragraph 22) becomes effective and enforceable but in no event later than 60 days after the date of termination. 

 

	 	(4)	Should the Executive timely elect to continue coverage under a group health insurance plan sponsored by the Company or one of its Affiliates and timely make the premium
payments, reimburse Executive on a monthly basis for the cost of continued coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 or other applicable law (“COBRA”) for Executive and any eligible dependents until the
earlier of (A) the date Executive is no longer entitled to continuation coverage under COBRA or (B) for 12 months after the date of termination. The first reimbursement shall not be paid before five business days after the Release (defined
in paragraph 22) becomes effective and enforceable. 

  

	 	(5)	All stock options and other incentive awards held by the Executive will become fully vested and immediately exercisable and all restrictions on any restricted stock
held by the Executive will be removed. 

  

	 	(i)	Return of Confidential Information and Company Property. Upon termination of the Executive’s employment for any reason, the Executive shall immediately
return all Confidential Information and other Company property to the Company. 

  

	 	(j)	Change in Control. For purposes of this Agreement, “Change in Control” shall mean the first to occur of any of the following events:

  

	 	(i)	Any “person” or “group (as such terms are used in Section 13(d) and 14(d) of the Securities Exchange Act of 1934 (the “Exchange Act”), is
or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of more than 35% of the total voting power of the outstanding voting stock of the Company; for purposes of this subparagraph
(i) the following acquisitions will not constitute a Change in Control: any acquisition by the Company or any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any corporation controlled by
the Company; 

  

	 	(ii)	 The Company is merged with or into or consolidated with another Person and, immediately after giving effect to the merger or consolidation, one or both
of the following occurs: (a) less than 50% of the total voting power of the outstanding voting stock of the surviving or resulting Person is then “beneficially owned” (within the meaning of Rule 13d-3 under the

	 	
Exchange Act) in the aggregate by the stockholders of the Company immediately prior to such merger or consolidation, and (b) the individuals who were members of the Board immediately prior
to the execution of the agreement providing for the merger or consolidation do not constitute at least a majority of the members of the board of directors of the surviving or resulting Person; 

 

	 	(iii)	The Company sells, assigns, conveys, transfers, leases or otherwise disposes of all or substantially all of the Company assets (either in one transaction or a series of
related transactions) (other than transfers to an entity or entities controlled by the Company); 

  

	 	(iv)	individuals who, as of the Effective Date, constitute the Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Board;
provided, however, that any individual becoming a director subsequent to the Effective Date whose (1) election, (2) appointment or (3) nomination for election by the Company’s stockholders was approved by a vote of at least a
majority of the directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for purposes of this definition, any such individual whose initial assumption of office
occurs as a result of an actual or publicly threatened election contest with respect to the election or removal of directors or other actual or publicly threatened solicitation of proxies or consents by or on behalf of a person or group other than
the Board; or 

  

	 	(v)	a complete liquidation or dissolution of the Company. 

 11. Code Section 409A. The severance pay and severance benefits provided under this Agreement are intended to be exempt from Internal Revenue Code Section 409A (“Code
Section 409A”) and any ambiguous provision will be construed in a manner that is compliant with or exempt from the application of Code Section 409A. In particular, the severance pay and benefits are intended to constitute a short-term
deferral within the meaning of Treasury Regulation Section 1.409A-1(b)(4), a payment or benefit described in paragraphs (b)(9)(iv) and (v) of Treasury Regulation Section 1.409A-1, and/or severance pay due to involuntary separation
from service under Treasury Regulation Section 1.409A-1(b)(9)(iii). If a provision of the Agreement would result in the imposition of an applicable tax under Code Section 409A, the parties agree that such provision shall be reformed to the
extent permissible under Code Section 409A to avoid imposition of the applicable tax, with such reformation effected in a manner that has the most favorable tax result to the Executive. Notwithstanding any provision in this Agreement to the
contrary, if (a) the Executive is a “specified employee,” as such term is defined in Code Section 409A and the regulations thereunder and (b) any payment due under this Agreement is subject to Code Section 409A and is
required to be delayed under Code Section 

 
409A because the Executive is a specified employee, that payment shall be payable on the earlier of (i) the first business day that is six months after the Executive’s Separation from
Service, (ii) the date of the Executive’s death, or (iii) the date that otherwise complies with the requirements of Code Section 409A. This paragraph shall be applied by accumulating all payments that otherwise would have been
paid within six months of the Executive’s Separation from Service and paying such accumulated amounts on the earliest business day which complies with the requirements of Code Section 409A. For purposes of determining the identity of
specified employees, the Company may establish procedures as it deems appropriate in accordance with Code Section 409A. For purposes of Code Section 409A, each payment amount or benefit due under this Agreement will be considered a
separate payment and the Executive’s entitlement to a series of payments or benefits under this Agreement is to be treated as an entitlement to a series of separate payments. With respect to any reimbursements that are nonqualified deferred
compensation subject to Code Section 409A, (i) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible for reimbursement in any other calendar year, (ii) the reimbursement must be
made on or before the last day of the calendar year following the calendar year in which the expense was incurred and (iii) the right to reimbursement shall not be subject to liquidation or exchange for any other benefit. For purposes of this
Agreement, “Separation from Service” means separation from service (within the meaning of Code Section 409A and the regulations and other guidance promulgated thereunder) with the group of employers that includes the Company and each
of its “409A Affiliates.” For this purpose, “409A Affiliate” means any incorporated or unincorporated trade or business or other entity or person, other than the Company, that along with the Company is considered a single
employer under Internal Revenue Code Section 414(b) or Internal Revenue Code Section 414(c), but (i) in applying Internal Revenue Code Section 1563(a)(1), (2), and (3) for the purposes of determining a controlled group of
corporations under Internal Revenue Code Section 414(b), the phrase “at least 50 percent” shall be used instead of the phrase “at least 80 percent” in each place the phrase “at least 80 percent” appears in Internal
Revenue Code Section 1563(a)(1), (2), and (3), and (ii) in applying Treasury Regulation Section 1.414(c)-2 for the purposes of determining trades or businesses (whether or not incorporated) that are under common control for the
purposes of Internal Revenue Code Section 414(c), the phrase “at least 50 percent” shall be used instead of the phrase “at least 80 percent” in each place the phrase “at least 80 percent” appears in Treasury
Regulation Section 1.414(c)-2. 
 12. Assistance with Claims. The Executive agrees that, for the period
beginning on the Effective Date, and continuing for a reasonable period after the termination or expiration of this Agreement for any reason, the Executive will assist the Company in the defense of any claims that may be made against the Company and
will assist the Company in the prosecution of any claims that may be made by the Company, to the extent such claims may relate to services performed by the Executive for the Company. The Executive agrees to promptly inform the Company if the
Executive becomes aware of any lawsuits or potential claims that may be filed against the Company. For all assistance occurring after termination of the Executive’s employment by the Company, the Company agrees to provide reasonable
compensation to the Executive for such assistance. The Executive also agrees to promptly inform the Company if asked to assist in any investigation of the Company (or its actions) that may relate to services performed by the Executive for the
Company, regardless of whether a lawsuit has been filed against the Company with respect to such investigation. 

 13. Successors and Assigns. The Company will require any successor (whether
direct or indirect) to all or substantially all of the business and assets of the Company (“Successor”) or any corporation which becomes the ultimate parent corporation of the Company or any such Successor to expressly assume and agree in
writing satisfactory to the Executive to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no succession had taken place; provided, however, that express assumption shall not be
required where this Agreement is assumed by operation of law. After the death or disability of the Executive, all his rights hereunder shall inure to the benefit of, and be enforceable by, his personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees, and legatees. Except as otherwise provided herein, the Executive’s rights and obligations may not be assigned without the prior written consent of the Company. 

14. Governing Law; Venue; Jury-Trial Waiver. The Company (including for this purpose each of the Company’s Affiliates)
and the Executive (i) agree that this Agreement is governed by and shall be construed and enforced in accordance with Texas law, excluding its choice-of-law principles, except where federal law may preempt the application of state law;
(ii) submit and consent to the exclusive jurisdiction, including removal jurisdiction, of the state and federal courts located in Harris County, Texas (or the county where the Company’s principal executive offices are located if different)
for any action or proceeding relating to this Agreement or Executive’s employment; (iii) waive any objection to such venue; (iv) agree that any judgment in any such action or proceeding may be enforced in other jurisdictions; and
(v) irrevocably waive the right to trial by jury and agree not to ask for a jury in any such proceeding. 
 15.
Notice. All notices required or permitted under this Agreement shall be in writing and shall be deemed effective: (i) upon delivery, if delivered in person; (ii) upon delivery to Federal Express or other similar courier service,
marked for next day delivery, addressed as set forth below; (iii) upon deposit in United States Mail if sent by registered or certified mail, return receipt requested, addressed as set forth below; or (iv) upon being sent by facsimile
transmission, provided an original is mailed the same day by registered or certified mail, return receipt requested: 
  

			
	If to the Company:	  	Halcón Resources Corporation
		  	1000 Louisiana, Suite 6700
		  	Houston, TX 77002
		  	Attn: Chief Executive Officer
		  	Fax No. (832) 538-0220
		
	If to the Executive:	  	Joseph S. Rinando, III

 16. Severability. The provisions of this Agreement shall be deemed severable,
and the invalidity or unenforceability of any one or more of the provisions of this Agreement shall not affect the validity and enforceability of the other provisions. 
 17. Dodd-Frank Act and Other Applicable Law Requirements. The Executive agrees (i) to abide by any compensation recovery, recoupment, anti-hedging or other policy applicable to
executives of the Company and its Affiliates, as may be in effect from time to time, as approved by the Board or a duly authorized committee thereof or as required by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010
(“Dodd-Frank Act”) or other applicable law, and (ii) that the terms and conditions of this Agreement shall be deemed automatically amended as may be necessary from time to time to ensure compliance by the Executive and this Agreement
with such policies, the Dodd-Frank Act, or other applicable law. 
 18. Entire Agreement. This Agreement contains
the entire agreement and understanding by and between the Company and the Executive with respect to the employment of the Executive, and no representations, promises, agreements, or understandings, written or oral, not contained herein shall be of
any force or effect. No waiver of any provision of this Agreement shall be valid unless it is in writing and signed by the party against whom the waiver is sought to be enforced. No valid waiver of any provision of this Agreement at any time shall
be deemed a waiver of any other provision of this Agreement at such time or any other time. 
 19. Modification.
No amendment, alteration or modification to any of the provisions of this Agreement shall be valid unless made in writing and signed by both parties. Notwithstanding the previous sentence, the Company may amend or modify this Agreement in its sole
discretion at any time without the further consent of the Executive in any manner necessary to comply with applicable law and regulations, including without limitation the Dodd-Frank Act and the regulations thereunder, or the listing or other
requirements of any stock exchange upon which the Company or an Affiliate is listed. 
 20. Paragraph Headings.
The paragraph headings have been inserted for convenience only and are not to be considered when construing the provisions of this Agreement. 
 21. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the
same instrument. 
 22. Release of Claims. The Executive shall not be entitled to receive the severance pay and
benefits under paragraph 10(g)(3) and (4) or 10(h)(3) and (4), as applicable, unless (a) the Executive executes and returns to the Company a “Release” (as defined below) on or before the 50th day following the date of termination
or such shorter time as may be prescribed in the 

 
Release, (b) such Release shall not have been timely revoked by the Executive and (c) the date of termination constitutes a Separation from Service, and provided further, however, that
if the Executive violates his continuing obligations under paragraph 5, 6, 7 or 8, the Executive shall not be entitled to receive such severance pay or benefits and the Executive shall immediately repay to the Company upon written demand any
severance pay or benefits that already have been paid to the Executive. For purposes of this Agreement, “Release” means a waiver and release of claims by the Executive in the form prescribed by the Company, which form may include an
agreement by the Executive not to disparage the Company, its Affiliates, and other related persons or entities, but which form shall not include a release and waiver of claims for (i) indemnification or for coverage under officer and director
liability policies, if applicable, (ii) claims with respect to the reimbursement of business expenses or with respect to benefits which are in each case to continue in effect after termination or expiration of this Agreement in accordance with
the terms of this Agreement, (iii) claims he may have as a holder of options to acquire equity securities of the Company (which shall be governed by the documents by which Executive was granted such options) and (iv) claims he may have as
a stockholder of the Company. 
 23. Definition of “Affiliate.”. For purposes of this Agreement,
“Affiliate” means the Company and any other entity that, directly or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, the Company. 

 IN WITNESS WHEREOF, the Company and the Executive have executed this Agreement on the
day and year first above written. 
  

							
	“COMPANY”	 		  	“EXECUTIVE”
	HALCÓN RESOURCES CORPORATION	 		  	
				
	By: 	 	/s/ Stephen P. Smiley	 		  	/s/ Joseph S. Rinando, III
		 	Stephen P. Smiley	 		  	Joseph S. Rinando, III
		 	Chairman of the Compensation Committee	 		  	

 EXHIBIT A 
 N/ARegistration Rights Agreement

 Exhibit 10.1 
 REGISTRATION RIGHTS AGREEMENT 
 This REGISTRATION RIGHTS AGREEMENT (this
“Agreement”) is made as of May 31, 2012, by and among (i) Cell Therapeutics, Inc., a Washington corporation (the “Company”), (ii) S*BIO Pte Ltd., a Singapore private limited company (the
“Initial Holder”), and (iii) each person or entity that subsequently becomes a party to this Agreement pursuant to, and in accordance with, the provisions of Section 12 hereof (collectively, the “Holder
Permitted Transferees,” and each individually, a “Holder Permitted Transferee”). 
 WHEREAS, pursuant
to the terms and conditions set forth in that certain Asset Purchase Agreement, dated as of April 18, 2012, between the Company and the Initial Holder (the “Asset Purchase Agreement”), the Initial Holder has agreed to sell to
the Company, and the Company has agreed to purchase from the Initial Holder certain assets and assume from the Initial Holder certain liabilities in exchange for consideration payable in (i) cash and (ii) shares of the Company’s
Series 16 Preferred Stock (the “Preferred Shares”), all upon the terms and conditions set forth in the Asset Purchase Agreement. 
 WHEREAS, the terms of the Asset Purchase Agreement provide that it shall be a condition precedent to the closing of the transactions thereunder, for the Company and the Initial Holder to execute and
deliver this Agreement. 
 NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the parties
hereto hereby agree as follows: 
 1. Definitions. The following terms shall have the meanings provided therefor below or elsewhere in
this Agreement as described below: 
 “Agreement” has the meaning set forth in the Preamble. 

“Asset Purchase Agreement” has the meaning set forth in the Preamble. 

“Blackout Period” has the meaning set forth in Section 4.1. 

“Board” means the board of directors of the Company. 

“Business Day” means any day other than a Saturday, a Sunday or a day on which banks in New York are authorized or
obligated by law or executive order to close. 
 “Closing” and “Closing Date” have the
meanings set forth in the Asset Purchase Agreement. 
 “Company” has the meaning set forth in the Preamble.

 “Confidential Information” has the meaning set forth in Section 13. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and all of the rules and regulations promulgated
thereunder. 

 “Holder Indemnified Person” has the meaning set forth in
Section 9.1. 
 “Holder Permitted Transferee” and “Holder Permitted Transferees”
have the meanings set forth in the Preamble. 
 “Holders” means, collectively, the Initial Holder and the
Holder Permitted Transferees; provided, however, that the term “Holders” shall not include the Initial Holder or any of the Holder Permitted Transferees if such Holder ceases to own or hold any Preferred Shares. 

“Initial Holder” has the meaning set forth in the Preamble. 

“Loss” has the meaning set forth in Section 9.1. 

“Mandatory Registration Termination Date” has the meaning set forth in Section 3.2. 

“Majority Holders” means, at the relevant time of reference thereto, those Holders holding more than fifty percent
(50%) of the Registrable Shares held by all of the Holders. 
 “Preferred Shares” has the meaning set
forth in the Preamble. 
 “Qualifying Holder” has the meaning set forth in Section 12. 

“Registrable Shares” means any shares of common stock of the Company issuable upon conversion of the Preferred Shares.

 “Registration Statement” has the meaning set forth in Section 3.1. 

“Rule 144” means Rule 144 promulgated under the Securities Act and any successor or substitute rule, law or provision.

 “SEC” means the U.S. Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended, and all of the rules and regulations promulgated
thereunder. 
 “Suspension Period” has the meaning set forth in Section 11. 

2. Effectiveness; Termination. This Agreement shall become effective and legally binding only if the Closing occurs. This Agreement shall
terminate and be of no further force and effect, automatically and without any action being required of any party hereto, upon the termination of the Asset Purchase Agreement. 
 3. Mandatory Registration. 
 3.1. Within thirty (30) calendar days
after the Closing Date, the Company will prepare and file with the SEC a registration statement on Form S-3, or any other available form if the Company is not eligible to use Form S-3, for the purpose of registering under the Securities Act all of
the Registrable Shares for resale by, and for the account of, the Holders as selling stockholders thereunder (the “Registration Statement”). The Registration Statement shall permit

  
 2 

 
the Holders to offer and sell, on a delayed or continuous basis pursuant to Rule 415 under the Securities Act, any or all of the Registrable Shares. The Company agrees to use commercially
reasonable efforts to cause the Registration Statement to become effective as soon as practicable after the filing thereof, and in no event later than ninety (90) calendar days following the Closing Date. The Registration Statement filed
pursuant to this Section 3.1 (and each amendment or supplement thereto, and each request for acceleration of effectiveness thereof) shall be provided to each Holder and its counsel prior to its filing or other submission. 

3.2. The Company shall be required to keep the Registration Statement effective until such date that is the earlier of (i) the date
as of which all of the Holders may sell all of the Registrable Shares to the public without restriction pursuant to Rule 144(b)(1) (or the successor rule thereto) promulgated under the Securities Act, (ii) the date when all of the Registrable
Shares registered thereunder shall have been sold pursuant to the Registration Statement or Rule 144, or (iii) the one-year anniversary of the Closing Date (such date is referred to herein as the “Mandatory Registration Termination
Date”). Thereafter, the Company shall be entitled to withdraw the Registration Statement and the Holders shall have no further right to offer or sell any of the Registrable Shares pursuant to the Registration Statement (or any prospectus
relating thereto). The offer and sale of the Registrable Shares pursuant to the Registration Statement shall not be underwritten. 
 3.3. The Company shall not, and shall not agree to, allow the holders of any securities of the Company, other than holders of the Registrable Shares, to include any of their securities in the Registration
Statement under Section 3.1 hereof or any amendment or supplement thereto without the consent of the Holders. In addition, the Company shall not offer any securities for its own account or the account of others in the Registration
Statement under Section 3.1 hereof or any amendment or supplement thereto without the consent of the Holders; provided, however, that the Company at all times reserves the right to provide registration rights, pursuant to a
separate registration statement, to the holders of any securities of the Company. 
 4. Filings, Etc. 

4.1. The Company shall prepare and file the Registration Statement as required pursuant to Section 3.1 hereof, and shall use
commercially reasonable efforts to have the Registration Statement declared effective as soon as practicable, and in any event no later than ninety (90) calendar days following the Closing Date. The Company shall notify the Holders by facsimile
or e-mail (as provided by Holders) as promptly as practicable, and in any event, within twenty-four (24) hours, after the Registration Statement is declared effective and shall simultaneously provide the Holders with copies of any related
prospectus to be used in connection with the sale or other disposition of the securities covered thereby. 
 5. Obligations of the Company.
In connection with the Company’s obligation under Sections 3 and 4 hereof to file the Registration Statement with the SEC and to use commercially reasonable efforts to cause the Registration Statement to become effective as
soon as practicable, the Company shall, as expeditiously as reasonably possible: 
 5.1. Prepare and file with the SEC such
amendments and supplements to the Registration Statement and the prospectus used in connection therewith as may be necessary to 

  
 3 

 
comply with the provisions of the Securities Act with respect to the disposition of all Registrable Shares covered by the Registration Statement; 

5.2. Furnish to the Holders such number of copies of a prospectus, including a preliminary prospectus, in conformity with the
requirements of the Securities Act, and such other documents (including, without limitation, prospectus amendments and supplements as are prepared by the Company in accordance with Section 5.1 above) as the Holders may reasonably request
in order to facilitate the disposition of such Holders’ Registrable Shares; 
 5.3. Notify the Holders, at any time when a
prospectus relating to the Registration Statement is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus included in or relating to the Registration Statement contains an untrue
statement of a material fact or omits any fact necessary to make the statements therein not misleading; and, thereafter, the Company will promptly prepare (and, when completed, give notice to each Holder) a supplement or amendment to such prospectus
so that, as thereafter delivered to the purchasers of such Registrable Shares, such prospectus will not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading; upon such
notification by the Company, the Holders will not offer or sell Registrable Shares until the Company has notified the Holders that it has prepared a supplement or amendment to such prospectus and delivered copies of such supplement or amendment to
the Holders (it being understood and agreed by the Company that the foregoing clause shall in no way diminish or otherwise impair the Company’s obligation to promptly prepare a prospectus amendment or supplement as above provided in this
Section 5.3 and deliver copies of same as above provided in Section 5.2 hereof); 
 5.4. Promptly
respond to any and all comments received from the SEC, with a view towards causing the Registration Statement or any amendment thereto to be declared effective by the SEC as soon as practicable, and file an acceleration request as soon as
practicable, but no later than five (5) business days, following the resolution or clearance of all SEC comments or, if applicable, notification by the SEC that any such Registration Statement or any amendment thereto will not be subject to
review; 
 5.5. Use commercially reasonable efforts to register and qualify the Registrable Shares covered by the Registration
Statement under such other securities or Blue Sky laws of such states where such registration and/or qualification is required as shall be reasonably requested by a Holder, provided that the Company shall not be required in connection therewith or
as a condition thereto to qualify to do business or to file a general consent to service of process in any such states or jurisdictions, and provided further that (notwithstanding anything in this Agreement to the contrary with respect to the
bearing of expenses) if any jurisdiction in which any of such Registrable Shares shall be qualified shall require that expenses incurred in connection with the qualification therein of any such Registrable Shares be borne by the Holders, then the
Holders shall, to the extent required by such jurisdiction, pay their pro rata share of such qualification expenses; 
 5.6.
Subject to the terms and conditions of this Agreement, use commercially reasonable efforts to (i) prevent the issuance of any stop order or other suspension of effectiveness of a Registration Statement, or the suspension of the qualification of
any of the 

  
 4 

 
Registrable Shares for sale in any jurisdiction in the United States, and (ii) if such an order or suspension is issued, obtain the withdrawal of such order or suspension at the earliest
practicable moment and notify each holder of Registrable Shares of the issuance of such order and the resolution thereof or its receipt of notice of the initiation or threat of any proceeding such purpose; 

5.7. Permit a single firm of counsel designated by the Holders to review the Registration Statement and all amendments and supplements
thereto (as well as all requests for acceleration or effectiveness thereof), at Holders’ own cost, a reasonable period of time prior to their filing with the SEC (not less than five (5) business days) and use commercially reasonable
efforts to reflect in such documents any comments as such counsel may reasonably propose (so long as such comments are provided to the Company at least (2) business days prior to the expected filing date) and will not request acceleration of
such Registration Statement without prior notice to such counsel; 
 5.8. Use commercially reasonable efforts to cause all the
Registrable Shares covered by the Registration Statement to be listed on the NASDAQ National Market, or such other securities exchange on which the Company’s common stock is then listed; and 

5.9. Comply with all requirements of the Financial Industry Regulatory Authority, Inc. with regard to the issuance of the Registrable
Shares and the listing thereof on the NASDAQ National Market, and engage a transfer agent and registrar to maintain the Company’s stock ledger for all Registrable Shares covered by the Registration Statement not later than the effective date of
the Registration Statement. 
 6. Furnish Information. It shall be a condition precedent to the obligations of the Company to take any
action pursuant to this Agreement that the Holders shall furnish to the Company such information regarding them and the securities held by them as the Company shall reasonably request and as shall be required in order to effect any registration by
the Company pursuant to this Agreement. Each Holder shall promptly notify the Company of any changes in the information furnished to the Company. 
 7. Expenses of Registration. All expenses incurred by the Company in connection with the registration of the Registrable Shares pursuant to this Agreement, including, without limitation, all
registration and qualification and filing fees, printing, and fees and disbursements of counsel for the Company, shall be borne by the Company. Any expenses incurred by a Holder, including, without limitation, fees and disbursements of counsel for
such Holder or any brokerage and other selling commissions and discounts shall be borne by such Holder. 
 8. Delay of Registration. The
Holders shall not take any action to restrain, enjoin or otherwise delay any registration as the result of any controversy which might arise with respect to the interpretation or implementation of this Agreement. In the event such a delay occurs,
the dates by which the Registration Statement is required to be filed and become effective pursuant to this Agreement shall be extended by the same number of days of such delay. 

  
 5 

 9. Indemnification. 
 9.1. The Company will indemnify and hold harmless each Holder and each person who controls each Holder within the meaning of the Securities Act or the Exchange Act, if any (in each case, a “Holder
Indemnified Person”) against any loss, claim, damage or liability (“Loss”), to which such Holder Indemnified Person may become subject under the Securities Act or otherwise, insofar as such Loss arises out of or is based
upon (i) any untrue or alleged untrue statement of any material fact contained in the Registration Statement, in any preliminary prospectus or final prospectus relating thereto or in any amendments or supplements to the Registration Statement
or any such preliminary prospectus or final prospectus, or (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make the statements therein not misleading; provided,
however, that the indemnity agreement contained in this Section 9.1 shall not apply to amounts paid in settlement of any such Loss if such settlement is effected without the consent of the Company, nor shall the Company be liable
in any such case for any such Loss to the extent that it arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in connection with the Registration Statement, any preliminary prospectus or
final prospectus relating thereto or any amendments or supplements to the Registration Statement or any such preliminary prospectus or final prospectus, in reliance upon and in conformity with written information furnished expressly for use in
connection with the Registration Statement or any such preliminary prospectus or final prospectus by a Holder, any underwriter for such Holder or controlling person with respect to such Holder, or any breach by any Holder of this Agreement or the
Asset Purchase Agreement, related to the failure of such Holder to comply with the covenants and agreements contained in this Agreement or the Asset Purchase Agreement respecting sales of the Preferred Shares. 

9.2. Each Holder will severally and not jointly indemnify and hold harmless the Company, each of its directors, each of its officers who
have signed the Registration Statement, each person, if any, who controls the Company within the meaning of the Securities Act, and all other Holders against any Loss to which the Company or any such director, officer, controlling person, or such
other Holder may become subject to, under the Securities Act or otherwise, insofar as such Loss arises out of or is based upon any untrue or alleged untrue statement of any material fact contained in the Registration Statement or any preliminary
prospectus or final prospectus, relating thereto or in any amendments or supplements to the Registration Statement or any such preliminary prospectus or final prospectus, or arises out of or is based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent and only to the extent that such untrue statement or alleged untrue statement or omission or alleged
omission was made in the Registration Statement, in any preliminary prospectus or final prospectus relating thereto or in any amendments or supplements to the Registration Statement or any such preliminary prospectus or final prospectus, in reliance
upon and in conformity with written information furnished by the Holder expressly for use in connection with the Registration Statement, or any preliminary prospectus or final prospectus; and provided, further, however, that the
indemnity agreement contained in this Section 9.2 shall not apply to amounts paid in settlement of any such Loss if such settlement is effected without the consent of those Holder(s) against which the request for indemnity is being made.

  
 6 

 9.3. Promptly after receipt by an indemnified party under this Section 9 of
notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against any indemnifying party under this Section 9, notify the indemnifying party in writing of the commencement thereof
and the indemnifying party shall have the right to participate in and, to the extent the indemnifying party desires, jointly with any other indemnifying party similarly noticed, to assume at its expense the defense thereof with counsel mutually
satisfactory to the indemnifying parties and the indemnified parties. In the event that the indemnifying party assumes any such defense, the indemnified party may participate in such defense with its own counsel and at its own expense,
provided, however, that the counsel for the indemnifying party shall act as lead counsel in all matters pertaining to such defense or settlement of such claim. The failure to notify an indemnifying party promptly of the commencement of
any such action shall not relieve such indemnifying party of any liability to the indemnified party under this Section 9, except to the extent the indemnifying party is actually prejudiced in its ability to defend such action.

 9.4. If the indemnification provided for in this Section 9 is held by a court of competent jurisdiction to be
unavailable to an indemnified party with respect to any Loss referred to therein, then the indemnifying party, in lieu of indemnifying such indemnified party hereunder, shall contribute to the amount paid or payable by such indemnified party as a
result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in connection with the statements or omissions that resulted in such Loss as
well as any other relevant equitable considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact
or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such
statement or omission. 
 10. Reports Under The Exchange Act. With a view to making available to the Holders the benefits of Rule 144 and
any other rule or regulation of the SEC that may at any time permit the Holders to sell the Preferred Shares to the public without registration until the Mandatory Registration Termination Date, the Company agrees to use commercially reasonable
efforts: (i) to make and keep public information available as those terms are understood in Rule 144, (ii) to file with the SEC in a timely manner all reports and other documents required to be filed by an issuer of securities registered
under the Securities Act or the Exchange Act, (iii) as long as any Holder owns any Preferred Shares, to furnish in writing upon such Holder’s request a written statement by the Company that it has complied with the reporting requirements
of Rule 144 and of the Securities Act and the Exchange Act, and (iv) undertake any additional actions reasonably necessary to maintain the availability of the Registration Statement or the use of Rule 144. 

11. Suspension. Notwithstanding anything in this Agreement to the contrary, if the Company shall furnish to the Holders a certificate signed by
the President or Chief Executive Officer of the Company stating that the Board has made the good faith determination (i) that continued use by the Holders of the Registration Statement for purposes of effecting offers or sales of Registrable
Shares pursuant thereto would require, under the Securities Act, premature disclosure in the Registration Statement (or the prospectus relating thereto) of material, nonpublic information concerning the Company, its business or prospects or any
proposed 

  
 7 

 
material transaction involving the Company, (ii) that such premature disclosure would be materially adverse to the Company, its business or prospects or any such proposed material
transaction or would make the successful consummation by the Company of any such material transaction significantly less likely and (iii) that it is therefore essential to suspend the use by the Holders of such Registration Statement (and the
prospectus relating thereto) for purposes of effecting offers or sales of Registrable Shares pursuant thereto, then the right of the Holders to use the Registration Statement (and the prospectus relating thereto) for purposes of effecting offers or
sales of Registrable Shares pursuant thereto shall be suspended for a period (the “Suspension Period”) of not more than forty-five (45) days after delivery by the Company of the certificate referred to above in this
Section 11; provided that the Company shall be entitled to no more than two (2) such Suspension Periods during any twelve (12) month period. During the Suspension Period, none of the Holders shall offer or sell any Registrable
Shares pursuant to or in reliance upon the Registration Statement (or the prospectus relating thereto). The Company shall use commercially reasonable efforts to terminate any Suspension Period as promptly as practicable. 

12. Transfer of Registration Rights. None of the rights of any Holder under this Agreement shall be transferred or assigned to any person unless
(i) such person is a Qualifying Holder (as defined below), and (ii) such person agrees to become a party to, and bound by, all of the terms and conditions of, this Agreement by duly executing and delivering to the Company an Instrument of
Adherence in the form attached as Exhibit A hereto. For purposes of this Section 12, the term “Qualifying Holder” shall mean, with respect to any Holder, (a) any corporation, partnership controlling,
controlled by, or under common control with, such Holder or any partner thereof, or (b) any other direct transferee from such Holder of at least 25% of those Registrable Shares held by such Holder. None of the rights of any Holder under this
Agreement shall be transferred or assigned to any Person (including, without limitation, a Qualifying Holder) that acquires Registrable Shares in the event that and to the extent that such Person is eligible to immediately resell such Registrable
Shares pursuant to Rule 144(b)(1) of the Securities Act or any other exemption from the registration provisions of the Securities Act. After any transfer in accordance with this Section 12, the rights and obligations of a Holder as to
any transferred Registrable Shares shall be the rights and obligations of the Holder Permitted Transferee holding such Registrable Shares. 

13. Confidentiality of Records. Each Holder agrees not to disclose any material non-public information provided by the Company in connection with
a registration (including, without limitation, the contemplated filing and timing of filing of a Registration Statement). 
 14. Entire
Agreement. This Agreement constitutes and contains the entire agreement and understanding of the parties with respect to the subject matter hereof, and it also supersedes any and all prior negotiations, correspondence, agreements or
understandings with respect to the subject matter hereof. 
 15. Miscellaneous. 

15.1. This Agreement may not be amended, modified or terminated, and no rights or provisions may be waived, except with the written
consent of the Majority Holders and the Company. 

  
 8 

 15.2. This Agreement shall be governed by and construed and enforced in accordance with the
laws of the State of New York, and shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, personal representatives, successors or assigns, provided that the terms and conditions of Section 12
hereof are satisfied. 
 15.3. This Agreement shall be binding upon and inure to the benefit of any transferee of any of the
Preferred Shares provided that the terms and conditions of Section 12 hereof are satisfied. Notwithstanding anything in this Agreement to the contrary, if at any time any Holder shall cease to own any Preferred Shares, all of such
Holder’s rights under this Agreement shall immediately terminate. 
 15.4. All notices and communications hereunder shall
be deemed to have been duly given and made if in writing and if served by personal delivery upon the party for whom it is intended or delivered by registered or certified mail, return receipt requested, or if sent by facsimile or email, provided
that the facsimile or email is promptly confirmed by telephone confirmation thereof, to the person at the address set forth below, or such other address as may be designated in writing hereafter, in the same manner, by such person: 

 

					
	 	 	If to the Company:
			
		 		  	Cell Therapeutics, Inc.
		 		  	3101 Western Avenue, Suite 600
		 		  	Seattle, Washington 98121
		 		  	Telephone: (206) 272-4000
		 		  	Facsimile: (206) 272-4302
		 		  	Attention: James A. Bianco, M.D., Chief Executive Officer
		
		 	with a copy to:
			
		 		  	O’Melveny & Myers LLP
		 		  	Two Embarcadero Center
		 		  	San Francisco, CA 94111-3823
		 		  	Telephone: (415) 984-8700
		 		  	Facsimile: (415) 984-8701
		 		  	Attn: C. Brophy Christensen, Esq. and Eric Sibbitt, Esq.
		
		 	If to the Initial Holder:
			
		 		  	S*BIO Pte Ltd.
		 		  	c/o EDBI
		 		  	250 North Bridge Rd #28-00 Raffles City Tower
		 		  	Singapore 179101
		 		  	Telephone: +65 6832 6326
		 		  	Facsimile: +65 6832 6838
		 		  	Attention: Heng Tong Choo
		
		 	with a copy to counsel, provided that such copy shall not constitute legal notice to the Initial
Holder:

  
 9 

			
		
		  	Cooley LLP
		  	4401 Eastgate Mall
		  	San Diego, CA 92121
		  	Telephone: +1 (858) 550-6000
		  	Facsimile: +1 (858) 550-6420
		  	Attention: Jane K. Adams

 15.5. Any person may change the address to which correspondence to it is to be addressed by notification
as provided for herein. 
 15.6. The parties acknowledge and agree that in the event of any breach of this Agreement, remedies
at law may be inadequate, and each of the parties hereto shall be entitled to seek specific performance of the obligations of the other parties hereto and such appropriate injunctive relief as may be granted by a court of competent jurisdiction,
without the necessity of showing economic loss and without any bond or other security being required. 
 15.7. This Agreement
may be executed in a number of counterparts, any of which together shall for all purposes constitute one Agreement, binding on all the parties hereto notwithstanding that all such parties have not signed the same counterpart. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 10 

 IN WITNESS WHEREOF, each Holder and the Company have caused their respective signature pages
to this Registration Rights Agreement to be duly executed as of the day and year first above written. 
  

			
	CELL THERAPEUTICS, INC.
	
	 /s/ James A. Bianco

	Name:	 	James A. Bianco, M.D.
	Title:	 	Chief Executive Officer

 [SIGNATURE PAGE TO REGISTRATION
RIGHTS AGREEMENT] 

 IN WITNESS WHEREOF, each Holder and the Company have caused their respective signature pages
to this Registration Rights Agreement to be duly executed as of the day and year first above written. 
  

			
	S*BIO PTE LTD.
	
	 /s/ Tamar Howson

	Name:	 	Tamar Howson
	Title:	 	Interim CEO

 [SIGNATURE PAGE TO REGISTRATION
RIGHTS AGREEMENT] 

 EXHIBIT A 
 Instrument of Adherence 
 Reference is hereby made to that certain
Registration Rights Agreement, dated as of May 31, 2012, among Cell Therapeutics, Inc., a Washington corporation (the “Company”), the Initial Holder and the Holder Permitted Transferees, as amended and in effect from time to
time (the “Registration Rights Agreement”). Capitalized terms used herein without definition shall have the respective meanings ascribed thereto in the Registration Rights Agreement. 

The undersigned, in order to become the owner or holder of [            ]
shares of Series 16 Preferred Stock (the “Preferred Stock”) or shares of common stock of the Company issuable upon conversion of the Preferred Stock (collectively, “Subject Securities”), of the Company, hereby
agrees that, from and after the date hereof, the undersigned has become a party to the Registration Rights Agreement in the capacity of a Holder Permitted Transferee, and is entitled to all of the benefits under, and is subject to all of the
obligations, restrictions and limitations set forth in, the Registration Rights Agreement that are applicable to Holder Permitted Transferees. The notice information for purposes of the Registration Rights Agreement is provided below. This
Instrument of Adherence shall take effect and shall become a part of the Registration Rights Agreement immediately upon execution. 
 Executed as of the date set forth below under the laws of California. 
  

			
	Signature:	 	  

		 	Name:
		 	Title:
		 	Telephone:
		 	Facsimile:
		 	Email:
		 	Attention:

  

			
	Accepted:
	
	CELL THERAPEUTICS, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	Date:                     , 2012

 [EXHIBIT A TO REGISTRATION RIGHTS
AGREEMENT] 

  
 A-1

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