Document:

Form of Common Stock Purchase Warrant

 Exhibit 10.2 
  

			
	 Warrant No. [    ]
  
	  	 Number of Shares: [             ]
 (subject to adjustment)

		
	 Date of Issuance: July 20, 2005
  
 Original Issue Date (as defined in subsection 2(a)): July 20, 2005
	  	 

  
 Cytogen
Corporation 
  
 Common Stock Purchase Warrant

  
 (Void after July 20, 2015) 
  
 Cytogen Corporation, a Delaware corporation (the “Company”), for
value received, hereby certifies that [            ], or its registered assigns (the “Registered Holder”), is entitled, subject to the terms and conditions set forth below,
to purchase from the Company, at any time or from time to time after the six-month and one day anniversary of the date of issuance and on or before 5:00 p.m. (New York time) on July 20, 2015 (the “Exercise Period”),
[        ] shares of Common Stock, $0.01 par value per share, of the Company (“Common Stock”), at a purchase price of $6.00 per share. The shares purchasable upon exercise of this Warrant, and the
purchase price per share, each as adjusted from time to time pursuant to Section 2 of this Warrant, are hereinafter referred to as the “Warrant Shares” and the “Purchase Price,” respectively. This Warrant is one of a series of
Warrants issued by the Company in connection with an offering of Common Stock, pursuant to (and shall be entitled to certain applicable rights contained in) the Securities Purchase Agreement dated as of July 19, 2005 (the “SPA”), and of
like tenor, except as to the number of shares of Common Stock subject thereto (collectively, the “Company Warrants”). 
  
 1. Exercise. 
  
 (a) Exercise for Cash. The Registered Holder may, at its option, elect to exercise this Warrant, in whole or in part and at any time or from time
to time during the Exercise Period, by surrendering this Warrant, with the purchase form appended hereto as Exhibit I duly executed by or on behalf of the Registered Holder, at the principal office of the Company, or at such other office or
agency as the Company may designate, accompanied by payment in full, in lawful money of the United States, of the Purchase Price payable in respect of the number of Warrant Shares purchased upon such exercise. A facsimile signature of the Registered
Holder on the purchase form shall be sufficient for purposes of exercising this Warrant, provided that the Company receives the Registered Holder’s original signature within three (3) business days thereafter. 
  
 (b) Cashless Exercise. 
  
 (i) The Registered Holder may, at its option, elect to exercise this
Warrant, in whole or in part, during the Exercise Period, on a cashless basis, by surrendering this Warrant, with the purchase form appended hereto as Exhibit I duly executed by or on behalf of 

 the Registered Holder, at the principal office of the Company, or at such other office or agency as the Company may
designate, by canceling a portion of this Warrant in payment of the Purchase Price payable in respect of the number of Warrant Shares purchased upon such exercise. In the event of an exercise pursuant to this subsection 1(b), the number of Warrant
Shares issued to the Registered Holder shall be determined according to the following formula: 
  
 X = Y(A-B) 
             A 
  

			
	Where: X =	  	the number of Warrant Shares that shall be issued to the Registered Holder;
		
	Y =	  	the number of Warrant Shares for which this Warrant is being exercised (which shall include both the number of Warrant Shares issued to the Registered Holder and the number of Warrant Shares
subject to the portion of the Warrant being cancelled in payment of the Purchase Price);
		
	A =	  	the Fair Market Value (as defined below) of one share of Common Stock; and
		
	B =	  	the Purchase Price then in effect.

  
 (ii) The Fair Market
Value per share of Common Stock shall be determined as follows: 
  
 (1) If the Common Stock is listed on a national securities exchange, the Nasdaq National Market or another nationally recognized trading system as of the Exercise Date, the Fair Market Value per share of Common Stock shall be deemed to be
the closing price per share of Common Stock thereon on the trading day immediately preceding the Exercise Date (provided, that, if no such price is reported on such day, the Fair Market Value per share of Common Stock shall be
determined pursuant to clause (2) below). 
  
 (2) If the Common
Stock is not listed on a national securities exchange, the Nasdaq National Market or another nationally recognized trading system as of the Exercise Date, the Fair Market Value per share of Common Stock shall be deemed to be the amount most recently
determined by the Board of Directors of the Company (the “Board”) to represent the fair market value per share of the Common Stock (including without limitation a determination for purposes of granting Common Stock options or issuing
Common Stock under any plan, agreement or arrangement with employees of the Company); and, upon request of the Registered Holder, the Board (or a representative thereof) shall, as promptly as reasonably practicable but in any event not later than 10
days after such request, notify the Registered Holder of the Fair Market Value per share of Common Stock and furnish the Registered Holder with reasonable documentation of the Board’s determination of such Fair Market Value. Notwithstanding the
foregoing, if the Board has not made such a determination within the three-month period prior to the Exercise Date, then (A) the Board shall make, and shall provide or cause to be provided to the Registered Holder notice of, a determination of the
Fair Market Value per share of the Common Stock within 15 days of a request by the Registered Holder that 
  

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 it do so, and (B) the exercise of this Warrant pursuant to this subsection 1(b) shall be delayed until such determination
is made and notice thereof is provided to the Registered Holder. Notwithstanding the foregoing, in the event the Registered Holder disagrees with the determination of the Board as to the calculation of Fair Market Value for purposes of this
subsection (2), Fair Market Value shall be determined by any member of the NASD or other nationally recognized appraisal firm selected mutually by the holders of Company Warrants holding 60% of the number of shares of Common Stock then subject to
Company Warrants and the Company or, if they cannot agree upon such selection, as selected by two such members of the NASD or nationally recognized appraisal firm, one of which shall be selected by the holders of Company Warrants holding 60% of the
number of shares of Common Stock then subject to Company Warrants and one of which shall be selected by the Company. 
  
 (c) Exercise Date. Each exercise of this Warrant shall be deemed to have been effected immediately prior to the close of business on the day on
which this Warrant shall have been surrendered to the Company as provided in subsection 1(a) or 1(b) above (the “Exercise Date”). At such time, the person or persons in whose name or names any certificates for Warrant Shares shall be
issuable upon such exercise as provided in subsection 1(d) below shall be deemed to have become the holder or holders of record of the Warrant Shares represented by such certificates. 
  
 (d) Issuance of Certificates. As soon as practicable after the exercise of this Warrant in whole or in part, and in
any event within three (3) business days thereafter, the Company, at its expense, will cause to be issued in the name of, and delivered to, the Registered Holder, or as the Registered Holder (upon payment by the Registered Holder of any applicable
transfer taxes) may direct: 
  
 (i) a certificate or
certificates for the number of full Warrant Shares to which the Registered Holder shall be entitled upon such exercise plus, in lieu of any fractional share to which the Registered Holder would otherwise be entitled, cash in an amount determined
pursuant to Section 3 hereof; and 
  
 (ii) in case such exercise
is in part only, a new warrant or warrants (dated the date hereof) of like tenor, calling in the aggregate on the face or faces thereof for the number of Warrant Shares equal (without giving effect to any adjustment therein) to the number of such
shares called for on the face of this Warrant minus the number of Warrant Shares for which this Warrant was so exercised. 
  
 (e) [INSERT FOR INVESTOR WARRANTS - Notwithstanding anything to the contrary contained herein, the number of shares of Common Stock that may be acquired
by the Registered Holder upon any exercise of this Warrant (or otherwise in respect hereof) shall be limited to the extent necessary to insure that, following such exercise (or other issuance), the total number of shares of Common Stock then
beneficially owned by such Registered Holder and its Affiliates (as defined in the SPA) and any other Persons (as defined in the SPA) whose beneficial ownership of Common Stock would be aggregated with the Registered Holder’s for purposes of
Section 13(d) of the Exchange Act (as defined in the SPA), does not exceed 9.999% of the total number of issued and outstanding shares of Common Stock (including for such purpose the shares of Common Stock issuable upon such exercise). For such
purposes, beneficial ownership shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. Each delivery of a purchase form hereunder will 
  

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 constitute a representation by the Registered Holder that it has evaluated the limitation set forth in this paragraph and
determined that issuance of the full number of Warrant Shares requested in such purchase form is permitted under this paragraph. This provision shall not restrict the number of shares of Common Stock which a Registered Holder may receive or
beneficially own in order to determine the amount of securities or other consideration that such Registered Holder may receive in the event of a merger or other business combination or reclassification involving the Company as contemplated in
Section 2(e) of this Warrant. This restriction may not be waived.] 
  
 2. Adjustments. 
  
 (a) Adjustment for Stock
Splits and Combinations. If the Company shall at any time or from time to time after the date on which this Warrant was first issued (or, if this Warrant was issued upon partial exercise of, or in replacement of, another warrant of like tenor,
then the date on which such original warrant was first issued) (the “Original Issue Date”) effect a subdivision of the outstanding Common Stock, the Purchase Price then in effect immediately before that subdivision shall be proportionately
decreased. If the Company shall at any time or from time to time after the Original Issue Date combine the outstanding shares of Common Stock, the Purchase Price then in effect immediately before the combination shall be proportionately increased.
Any adjustment under this paragraph shall become effective at the close of business on the date the subdivision or combination becomes effective. 
  
 (b) Adjustment for Certain Dividends and Distributions. In the event the Company at any time, or from time to time after the Original Issue Date
shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in additional shares of Common Stock, then and in each such event the Purchase Price then in
effect immediately before such event shall be decreased as of the time of such issuance or, in the event such a record date shall have been fixed, as of the close of business on such record date, by multiplying the Purchase Price then in effect by a
fraction: 
  
 (1) the numerator of which shall be the total
number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or the close of business on such record date, and 
  
 (2) the denominator of which shall be the total number of shares of Common Stock issued and outstanding immediately prior to the time of such issuance or
the close of business on such record date plus the number of shares of Common Stock issuable in payment of such dividend or distribution; 
  
 provided, however, that if such record date shall have been fixed and such dividend is not fully paid or if such distribution is not fully made on the date
fixed therefor, the Purchase Price shall be recomputed accordingly as of the close of business on such record date and thereafter the Purchase Price shall be adjusted pursuant to this paragraph as of the time of actual payment of such dividends or
distributions. 
  
 (c) Adjustment in Number of Warrant
Shares. When any adjustment is required to be made in the Purchase Price pursuant to subsections 2(a) or 2(b), the number of Warrant Shares purchasable upon the exercise of this Warrant shall be changed to the number 
  

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 determined by dividing (i) an amount equal to the number of shares issuable upon the exercise of this Warrant immediately
prior to such adjustment, multiplied by the Purchase Price in effect immediately prior to such adjustment, by (ii) the Purchase Price in effect immediately after such adjustment. 
  
 (d) Adjustments for Other Dividends and Distributions. In the event the Company at any time or from time to time
after the Original Issue Date shall make or issue, or fix a record date for the determination of holders of Common Stock entitled to receive, a dividend or other distribution payable in securities of the Company (other than shares of Common Stock)
or in cash or other property (other than regular cash dividends paid out of earnings or earned surplus, determined in accordance with generally accepted accounting principles), then and in each such event provision shall be made so that the
Registered Holder shall receive upon exercise hereof, in addition to the number of shares of Common Stock issuable hereunder, the kind and amount of securities of the Company, cash or other property which the Registered Holder would have been
entitled to receive had this Warrant been exercised on the date of such event and had the Registered Holder thereafter, during the period from the date of such event to and including the Exercise Date, retained any such securities receivable during
such period, giving application to all adjustments called for during such period under this Section 2 with respect to the rights of the Registered Holder. 
  
 (e) Adjustment for Reorganization. If there shall occur any reorganization, recapitalization, reclassification, consolidation or merger involving
the Company in which the Common Stock is converted into or exchanged for securities, cash or other property (other than a transaction covered by subsections 2(a) or 2(d)) (collectively, a “Reorganization”), then, following such
Reorganization, the Registered Holder shall receive upon exercise hereof the kind and amount of securities, cash or other property which the Registered Holder would have been entitled to receive pursuant to such Reorganization if such exercise had
taken place immediately prior to such Reorganization. In any such case, appropriate adjustment (as determined reasonably and in good faith by the Board) shall be made in the application of the provisions set forth herein with respect to the rights
and interests thereafter of the Registered Holder, to the end that the provisions set forth in this Section 2 (including provisions with respect to changes in and other adjustments of the Purchase Price) shall thereafter be applicable, as nearly as
reasonably may be, in relation to any securities, cash or other property thereafter deliverable upon the exercise of this Warrant. This Warrant shall remain exercisable for the full term of the Exercise Period notwithstanding any Reorganization.

  
 (f) Certificate as to Adjustments. Upon the occurrence
of each adjustment or readjustment of the Purchase Price pursuant to this Section 2, the Company at its expense shall, as promptly as reasonably practicable but in any event not later than 10 days thereafter, compute such adjustment or readjustment
in accordance with the terms hereof and furnish to the Registered Holder a certificate setting forth such adjustment or readjustment (including the kind and amount of securities, cash or other property for which this Warrant shall be exercisable and
the Purchase Price) and showing in detail the facts upon which such adjustment or readjustment is based. The Company shall, as promptly as reasonably practicable after the written request at any time of the Registered Holder (but in any event not
later than 10 days thereafter), furnish or cause to be furnished to the Registered Holder a certificate setting forth (i) the Purchase Price then in effect and (ii) the number of shares of Common Stock and the amount, if any, of other securities,
cash or property which then would be received upon the exercise of this Warrant. 
  

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 3. Fractional Shares. The Company shall not be required upon the exercise of this Warrant to issue
any fractional shares, but shall pay the value thereof to the Registered Holder in cash on the basis of the Fair Market Value per share of Common Stock, as determined pursuant to subsection 2(e) above. 
  
 4. Transfers, etc. 
  
 (a) The Company will maintain a register containing the name and address of
the Registered Holder of this Warrant. The Registered Holder may change its address as shown on the warrant register by written notice to the Company requesting such change. 
  
 (b) This Warrant and all rights hereunder are transferable, in whole or in part, upon surrender of this Warrant with a
properly executed assignment (in the form of Exhibit II hereto) at the principal office of the Company (or, if another office or agency has been designated by the Company for such purpose, then at such other office or agency). The Company
shall promptly register any such transferee requested by the prior Registered Holder as the Registered Holder hereof. 
  
 5. No Impairment. The Company will not, by amendment of its charter or through any reorganization, transfer of assets, consolidation, merger,
dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in
the taking of all such action as may be necessary or appropriate in order to protect the rights of the Registered Holder against impairment. The Company shall take all commercially reasonable steps to maintain the listing and trading of the
Company’s shares of Common Stock on the Nasdaq National Market or a national exchange. If the Company fails to make, when due, any payments provided for hereunder, or fails to comply with any other provision of this Warrant, the Company shall
pay to the Holder such amounts as shall be sufficient to cover any third party costs and expenses including, but not limited to, reasonable attorneys’ fees, including those of appellate proceedings, incurred by the Registered Holder in
collecting any amounts due pursuant hereto or in otherwise enforcing any of its rights, powers or remedies hereunder. 
  
 6. Notices of Record Date, etc. In the event: 
  
 (a) the Company shall take a record of the holders of its Common Stock (or other stock or securities at the time deliverable upon the exercise of this
Warrant) for the purpose of entitling or enabling them to receive any dividend or other distribution, or to receive any right to subscribe for or purchase any shares of stock of any class or any other securities, or to receive any other right; or

  
 (b) of any capital reorganization of the Company, any
reclassification of the Common Stock of the Company, any consolidation or merger of the Company with or into another corporation, or any transfer of all or substantially all of the assets of the Company; or 
  

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 (c) of the voluntary or involuntary dissolution, liquidation or winding-up of the Company, then, and in
each such case, the Company will send or cause to be sent to the Registered Holder a notice specifying, as the case may be, (i) the record date for such dividend, distribution or right, and the amount and character of such dividend, distribution or
right, or (ii) the effective date on which such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up is to take place, and the time, if any is to be fixed, as of which the holders of record of
Common Stock (or such other stock or securities at the time deliverable upon the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other stock or securities) for securities or other property deliverable
upon such reorganization, reclassification, consolidation, merger, transfer, dissolution, liquidation or winding-up. Such notice shall be sent at least 10 days prior to the record date or effective date for the event specified in such notice.

  
 7. Reservation of Stock; Registration. The Company will
at all times reserve and keep available, solely for issuance and delivery upon the exercise of this Warrant, such number of Warrant Shares and other securities, cash and/or property, as from time to time shall be issuable upon the exercise of this
Warrant. The Warrant Shares issuable upon exercise of this Warrant shall be registered at the sole expense of the Company pursuant to the Registration Statement (or, if necessary, another registration statement with the SEC) described in the SPA in
order to permit the free tradability of the Warrant Shares without restriction. 
  
 8. Exchange or Replacement of Warrants. 
  
 (a) Upon the surrender by the Registered Holder, properly endorsed, to the Company at the principal office of the Company, the Company will, subject to the provisions of Section 4 hereof, issue and deliver to or upon
the order of the Registered Holder, at the Company’s expense, a new Warrant or Warrants of like tenor, in the name of the Registered Holder or as the Registered Holder (upon payment by the Registered Holder of any applicable transfer taxes) may
direct, calling in the aggregate on the face or faces thereof for the number of shares of Common Stock (or other securities, cash and/or property) then issuable upon exercise of this Warrant. 
  
 (b) Upon receipt of evidence reasonably satisfactory to the Company of the
loss, theft, destruction or mutilation of this Warrant and (in the case of loss, theft or destruction) upon delivery of an indemnity agreement (with surety if reasonably required) in an amount reasonably satisfactory to the Company, or (in the case
of mutilation) upon surrender and cancellation of this Warrant, the Company will issue, in lieu thereof, a new Warrant of like tenor. 
  
 9. Notices. All notices and other communications from the Company to the Registered Holder in connection herewith shall be mailed by certified or
registered mail, postage prepaid, or sent via a reputable nationwide overnight courier service guaranteeing next business day delivery, to the address last furnished to the Company in writing by the Registered Holder. All notices and other
communications from the Registered Holder to the Company in connection herewith shall be mailed by certified or registered mail, postage prepaid, or sent via a reputable nationwide overnight courier service guaranteeing next business day delivery,
to the Company at its principal office set forth below. If the Company should at any time change the location of its principal office to a place other than as set forth below, it shall give prompt written notice to the 
  

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 Registered Holder and thereafter all references in this Warrant to the location of its principal office at the particular
time shall be as so specified in such notice. All such notices and communications shall be deemed delivered one business day after being sent via a reputable international overnight courier service guaranteeing next business day delivery.

  
 10. No Rights as Stockholder. Until the exercise of
this Warrant, the Registered Holder shall not have or exercise any rights by virtue hereof as a stockholder of the Company. Notwithstanding the foregoing, in the event (i) the Company effects a split of the Common Stock by means of a stock dividend
and the Purchase Price of and the number of Warrant Shares are adjusted as of the date of the distribution of the dividend (rather than as of the record date for such dividend), and (ii) the Registered Holder exercises this Warrant between the
record date and the distribution date for such stock dividend, the Registered Holder shall be entitled to receive, on the distribution date, the stock dividend with respect to the shares of Common Stock acquired upon such exercise, notwithstanding
the fact that such shares were not outstanding as of the close of business on the record date for such stock dividend. 
  
 11. Amendment or Waiver. Any term of this Warrant may be amended or waived (either generally or in a particular instance and either retroactively
or prospectively) with the written consent of the Company and the holders of Company Warrants representing at least 60% of the number of shares of Common Stock then subject to outstanding Company Warrants. Notwithstanding the foregoing, (a) this
Warrant may be amended and the observance of any term hereunder may be waived without the written consent of the Registered Holder only in a manner which applies to all Company Warrants in the same fashion and (b) the number of Warrant Shares
subject to this Warrant and the Purchase Price of this Warrant may not be amended, and the right to exercise this Warrant may not be waived, without the written consent of the Registered Holder (it being agreed that an amendment to or waiver under
any of the provisions of Section 2 of this Warrant shall not be considered an amendment of the number of Warrant Shares or the Purchase Price). The Company shall give prompt written notice to the Registered Holder of any amendment hereof or waiver
hereunder that was effected without the Registered Holder’s written consent. No waivers of any term, condition or provision of this Warrant, in any one or more instances, shall be deemed to be, or construed as, a further or continuing waiver of
any such term, condition or provision. 
  
 12. Section
Headings. The section headings in this Warrant are for the convenience of the parties and in no way alter, modify, amend, limit or restrict the contractual obligations of the parties. 
  
 13. Governing Law. This Warrant will be governed by and construed in accordance with the internal laws of the State
of New York (without reference to the conflicts of law provisions thereof). The Company hereby irrevocably consents to the non-exclusive jurisdiction of the State and Federal courts located in New York City, New York in connection with any action or
proceeding arising out of or relating to this Warrant. In any such litigation the Company agrees that the service thereof may be made by certified or registered mail directed to the Company at its address set forth in its public filings with the
Securities and Exchange Commission. 
  
 14. Facsimile
Signatures. This Warrant may be executed by facsimile signature. 
  
 * * * * * * * 
  
  

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 EXECUTED as of the Date of Issuance indicated above. 
  

			
	CYTOGEN CORPORATION
		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

  

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 EXHIBIT I 
  
 PURCHASE FORM 
  

			
	To: Cytogen Corporation	  	Dated:                     

  
 The undersigned,
pursuant to the provisions set forth in the attached Warrant (No.         ), hereby elects to purchase (check applicable box): 
  
  ̈              shares of the Common Stock of Cytogen Corporation covered by such Warrant; or 
  
  ̈
    the maximum number of shares of Common Stock covered by such Warrant pursuant to the cashless exercise procedure set forth in subsection 1(b). 
  
 The undersigned herewith makes payment of the full purchase price for such shares at the price per share provided for in
such Warrant. Such payment takes the form of (check applicable box or boxes): 
  

	 	 ̈	$______ in lawful money of the United States; and/or 

  

	 	 ̈	the cancellation of such portion of the attached Warrant as is exercisable for a total of              Warrant
Shares (using a Fair Market Value of $              per share for purposes of this calculation) ; and/or 

  

	 	 ̈	the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in subsection 1(b), to exercise this Warrant with respect to the maximum
number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in subsection 1(b). 

  

			
	Signature:	 	  

	Address:	 	  

	 	 	  

 EXHIBIT II 
  
 ASSIGNMENT FORM 
  
 FOR VALUE RECEIVED,
                                        
                         hereby sells, assigns and transfers all of the rights of the undersigned under the attached Warrant
(No.         ) with respect to the number of shares of Common Stock of Cytogen Corporation covered thereby set forth below, unto: 
  

					
	 Name of Assignee

	 	 Address

	 	 No. of Shares

  
  

									
	Dated:                     	 	 	 	 Signature:

				
	Signature Guaranteed:	 	 	 	 	 	 
					
	By:	 	  

	 	 	 	 	 	 

  
 The signature should be guaranteed by
an eligible guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee medallion program) pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934, as
amended. 

 Schedule of Holders 
  

								
	 Name

	  	Number of
Shares

	  	Number of
Warrants

	  	Investment
Amount

	 Funds affiliated with OrbiMed Advisors LLC
	  	1,527,190	  	381,798	  	$	6,872,355
	 Funds affiliated with ProQuest Investments, L.P.
	  	1,527,190	  	381,798	  	$	6,872,355
	 HSMR Capital Partners (QP), L.P.
	  	50,000	  	12,500	  	$	225,000
	 	  	
	  	
	  	
	

	 Total:
	  	3,104,380	  	776,096	  	$	13,969,710Specimen Certificate for Series B Preferred Stock

 EXHIBIT 4.3 
  

					
	 NUMBER
  
 THIS CERTIFICATE IS TRANSFERABLE IN 
 NEW YORK, N.Y.
	 	 DIGITAL REALTY TRUST, INC.
  
 INCORPORATED UNDER THE LAWS OF THE
STATE OF MARYLAND
  
	 	 SHARES
  
 SEE REVERSE FOR IMPORTANT NOTICE
 ON TRANSFER RESTRICTIONS
 AND OTHER INFORMATION
  
 CUSIP                     

  
 THIS CERTIFIES THAT 

 
 **Specimen** 
  
 IS THE OWNER OF 
  
 FULLY PAID AND NONASSESSABLE SHARES OF THE
                %    SERIES B CUMULATIVE REDEEMABLE PREFERRED
STOCK, PAR VALUE $0.01 PER SHARE, OF 
  
 Digital Realty Trust, Inc. 
  
 (the “Company”) transferable on the books of the Company by the holder hereof in person or by its duly authorized attorney, upon surrender of this Certificate
properly endorsed. This Certificate is not valid unless countersigned by the Transfer Agent and registered by the Registrar. 
  
 IN WITNESS WHEREOF, the Company has caused this Certificate to be executed on its behalf by its duly authorized officers. 
  
 DATED
                                     
  

									
	Countersigned and Registered:	 	 American Stock Transfer & Trust Company
 (New York, NY) Transfer Agent and Registrar
	 	 	 	 	 	 
	 	 	 	 	 	  

	 	(SEAL)
	 	 	 	 	 	 	         Chief Executive Officer
	 	 
	 	 	[Seal]	 	 	 	 	 	 

  

							
	 By:
	 	  

	  	 	  	  

	 	 	 Authorized Signature
	  	 	  	             Secretary

 DIGITAL REALTY TRUST, INC. 
  
 IMPORTANT NOTICE 
  
 Classes of Stock 
  
 THE COMPANY IS AUTHORIZED TO ISSUE CAPITAL STOCK OF MORE THAN ONE CLASS, CONSISTING OF COMMON STOCK AND ONE OR MORE CLASSES OF PREFERRED STOCK. THE BOARD
OF DIRECTORS IS AUTHORIZED TO DETERMINE THE PREFERENCES, LIMITATIONS AND RELATIVE RIGHTS OF ANY CLASS OF THE PREFERRED STOCK BEFORE THE ISSUANCE OF SHARES OF SUCH CLASS OF PREFERRED STOCK. THE COMPANY WILL FURNISH, WITHOUT CHARGE, TO ANY STOCKHOLDER
MAKING A WRITTEN REQUEST THEREFOR, A COPY OF THE COMPANY’S CHARTER AND A WRITTEN STATEMENT OF THE DESIGNATIONS, RELATIVE RIGHTS, PREFERENCES, CONVERSION OR OTHER RIGHTS, VOTING POWERS, RESTRICTIONS, LIMITATIONS AS TO DIVIDENDS AND OTHER
DISTRIBUTIONS, QUALIFICATIONS AND TERMS AND CONDITIONS OF REDEMPTION OF THE STOCK OF EACH CLASS WHICH THE COMPANY HAS THE AUTHORITY TO ISSUE AND, IF THE COMPANY IS AUTHORIZED TO ISSUE ANY PREFERRED OR SPECIAL CLASS AND SERIES, (i) THE DIFFERENCES IN
THE RELATIVE RIGHTS AND PREFERENCES BETWEEN THE SHARES OF EACH SERIES TO THE EXTENT SET, AND (ii) THE AUTHORITY OF THE BOARD OF DIRECTORS TO SET SUCH RIGHTS AND PREFERENCES OF SUBSEQUENT SERIES. REQUESTS FOR SUCH WRITTEN STATEMENT MAY BE DIRECTED TO
THE SECRETARY OF THE COMPANY AT ITS PRINCIPAL OFFICE. 
  
 Restriction on Ownership and Transfer 
  
 THE
SHARES OF SERIES B PREFERRED STOCK REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON BENEFICIAL AND CONSTRUCTIVE OWNERSHIP AND TRANSFER FOR THE PURPOSE OF THE COMPANY’S MAINTENANCE OF ITS STATUS AS A REAL ESTATE INVESTMENT TRUST
UNDER THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”). SUBJECT TO CERTAIN FURTHER RESTRICTIONS AND EXCEPT AS EXPRESSLY PROVIDED IN THE ARTICLES SUPPLEMENTARY FOR THE SERIES B PREFERRED STOCK, (i) NO PERSON MAY BENEFICIALLY OWN
SHARES OF THE COMPANY’S SERIES B PREFERRED STOCK IN EXCESS OF 9.8% (BY VALUE OR BY NUMBER OF SHARES, WHICHEVER IS MORE RESTRICTIVE) OF THE OUTSTANDING SERIES B PREFERRED STOCK OF THE COMPANY; (ii) NO PERSON MAY CONSTRUCTIVELY OWN SHARES OF THE
COMPANY’S SERIES B PREFERRED STOCK IN EXCESS OF 9.8% (BY VALUE OR BY NUMBER OF SHARES, WHICHEVER IS MORE RESTRICTIVE) OF THE OUTSTANDING SERIES B PREFERRED STOCK OF THE COMPANY; (iii) NO PERSON MAY BENEFICIALLY OWN SHARES OF THE COMPANY’S
CAPITAL STOCK WITH A VALUE IN EXCESS OF 9.8% OF THE VALUE OF THE COMPANY’S OUTSTANDING CAPITAL STOCK; (iv) NO PERSON MAY BENEFICIALLY OR CONSTRUCTIVELY OWN SERIES B PREFERRED STOCK THAT, TAKING INTO ACCOUNT ANY OTHER CAPITAL STOCK OF THE
COMPANY BENEFICIALLY OR CONSTRUCTIVELY OWNED BY SUCH PERSON, WOULD RESULT IN THE COMPANY BEING “CLOSELY HELD” UNDER SECTION 856(h) OF THE CODE OR OTHERWISE CAUSE THE COMPANY TO FAIL TO QUALIFY AS A REIT; AND (v) NO PERSON MAY TRANSFER
SERIES B PREFERRED STOCK IF SUCH TRANSFER WOULD RESULT IN THE CAPITAL STOCK OF THE COMPANY BEING OWNED BY FEWER THAN 100 PERSONS. ANY PERSON WHO BENEFICIALLY OR CONSTRUCTIVELY OWNS OR ATTEMPTS TO BENEFICIALLY OR CONSTRUCTIVELY OWN SERIES B PREFERRED
STOCK WHICH CAUSES OR WILL CAUSE A PERSON TO BENEFICIALLY OR CONSTRUCTIVELY OWN SERIES B PREFERRED STOCK IN EXCESS OF THE ABOVE LIMITATIONS MUST IMMEDIATELY NOTIFY THE COMPANY. IF ANY OF THE RESTRICTIONS ON TRANSFER OR OWNERSHIP ARE VIOLATED, THE
SERIES B PREFERRED STOCK REPRESENTED HEREBY IN EXCESS OF SUCH RESTRICTIONS WILL BE AUTOMATICALLY TRANSFERRED TO THE TRUSTEE OF A TRUST FOR THE BENEFIT OF ONE OR MORE CHARITABLE BENEFICIARIES. IN ADDITION, THE COMPANY MAY REDEEM SHARES UPON THE TERMS
AND CONDITIONS SPECIFIED BY THE BOARD OF DIRECTORS IN ITS SOLE DISCRETION IF THE BOARD OF DIRECTORS DETERMINES THAT OWNERSHIP OR A TRANSFER OR OTHER EVENT MAY VIOLATE THE RESTRICTIONS DESCRIBED ABOVE. FURTHERMORE, UPON THE OCCURRENCE OF CERTAIN
EVENTS, ATTEMPTED TRANSFERS IN VIOLATION OF THE RESTRICTIONS DESCRIBED ABOVE MAY BE VOID AB INITIO. ALL TERMS IN THIS LEGEND WHICH ARE DEFINED IN THE ARTICLES SUPPLEMENTARY FOR THE SERIES B PREFERRED STOCK SHALL HAVE THE MEANINGS ASCRIBED TO THEM IN
SUCH ARTICLES SUPPLEMENTARY, AS THE SAME MAY BE AMENDED FROM TIME TO TIME, A COPY OF WHICH, INCLUDING THE RESTRICTIONS ON TRANSFER AND OWNERSHIP, WILL BE FURNISHED TO EACH HOLDER OF SERIES B PREFERRED STOCK ON REQUEST AND WITHOUT CHARGE. REQUESTS
FOR SUCH A COPY MAY BE DIRECTED TO THE SECRETARY OF THE COMPANY AT ITS PRINCIPAL OFFICE. 
  
 Keep this Certificate in a safe place. If it is lost, stolen, or destroyed, the Company will require a bond of indemnity as a condition to the issuance of a replacement certificate. 
  
 The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as though they were written out in full according to applicable laws or regulations: 
  

									
	 TEN COM
	  	-	  	as tenants in common	 	UNIF GIFT MIN ACT	 	                     Custodian
	 TEN ENT
	  	-	  	as tenants by the entireties	 	 	 	(Custodian)                      (Minor)
	 JT TEN
	  	-	  	 as joint tenants with right of
 survivorship
and not as tenants
 in common
	 	 	 	under Uniform Gifts to Minors Act of
	 	  	 	  	 	 	  

	 	  	 	  	 	 	(State)

  
 Additional
abbreviations may also be used though not in the above list. 
  
 FOR VALUE RECEIVED,
                                       
                                        
                                  DOES HEREBY SELL, ASSIGN AND TRANSFER UNTO

  

			
	 PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER OF ASSIGNEE
	  	 
	  

	  	 

  
  
  

 (Please Print or Typewrite
Name and Address, Including Zip Code, of Assignee) 
  

  

  

 shares of the     % Series B Cumulative Redeemable Preferred Stock represented by the within Certificate and does hereby irrevocably constitute
and appoint 
  

 to transfer the
said stock on the books of the within named Company with full power of substitution in the premises. 
  
 Dated
                                     
  

			
	X	 	  

	X	 	  

	NOTICE:	 	THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAMES AS WRITTEN UPON THE FACE OF THE CERTIFICATE IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE
WHATEVER.

  
 Signature(s) Guaranteed

  
  

			
	By	 	  

	 	 	 THE SIGNATURE(S) MUST BE GUARANTEED
 BY AN
ELIGIBLE GUARANTOR INSTITUTION
 (BANKS, STOCKBROKERS, SAVINGS AND
 LOAN ASSOCIATIONS AND CREDIT UNIONS
 WITH MEMBERSHIP IN AN APPROVED
 SIGNATURE GUARANTEE MEDALLION
 PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]