Document:

Exhibit

Exhibit 10.37
CTI BioPharma Corp.

December 23, 2015

__________________
CTI BioPharma Corp.
3101 Western Avenue, Suite 600
Seattle, Washington 98121

Re:    Amendment of Equity/Long-Term Incentive Award Agreement

Dear __________________:

Reference is made to the performance-based stock award (the “Award”) granted to you by CTI BioPharma Corp. (the “Company”), effective as of _____________ and as subsequently amended, and evidenced by the Equity/Long-Term Incentive Award Agreement, as amended, between you and the Company (the “Award Agreement”).  This letter amendment (this “Amendment”) sets forth our agreement to amend the Award Agreement on the terms set forth herein.  Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Award Agreement.
The Award Agreement is hereby amended, effective as of the date first set forth above, as follows:
1.    The Performance Goals and Award Percentages applicable to the Award will continue in effect through the scheduled expiration date of the Award (which is December 31, 2016).  However, to the extent that any Performance Goal is attained prior to such date and in lieu of the shares of Common Stock that would otherwise be issued to you pursuant to the Award upon achievement of such Performance Goal, you will be entitled to receive an option to purchase a number of shares of Common Stock equal to the product of (1) the Award Percentage corresponding to that particular Performance Goal multiplied by (2) the total number of outstanding shares of Common Stock, determined on a non-fully diluted basis, as of the applicable Performance Vesting Date (i.e. the date on which the Compensation Committee of the Company’s Board of Directors certifies that the Performance Goal has been achieved).  Such option will have a per-share exercise price equal to the closing price (in regular trading) of a share of Common Stock on the applicable Performance Vesting Date (or, if such date is not a trading day, on the last day of trading of the Common Stock prior to the Performance Vesting Date) and will be scheduled to vest in six (6) semi-annual installments over the three-year period following the Performance Vesting Date, subject to your continued employment or service with the Company or one of its subsidiaries through the applicable vesting date.  Such option will be subject to the same maximum term and termination of service rules applicable to the Company’s option grants to employees generally and granted under the Company’s 2015 Equity Incentive Plan, or a successor plan (the “Plan”).  In addition, the Company’s obligation to grant any such option to you is subject to the condition set forth in your Award Agreement that a sufficient number of shares are available to make such grant under the Plan (and, in the event that the total number of shares subject to options to be granted pursuant to your Award and any other similar awards granted by the Company exceed the number of shares remaining available for new award grants under the Plan, the Company may proportionately reduce the number of shares subject to your option grant).  The option will be granted under the Plan and subject to the terms and conditions of the Plan and the Company’s standard form of stock option award agreement.

2.    To the extent the Award is subject to any acceleration of vesting in connection with either (1) a termination of your employment or service with the Company or any of its subsidiaries or (2) a Change in Control (in each case whether under the Award Agreement or any other agreement between you and the Company or any subsidiary) (the “Acceleration Provisions”), such Acceleration Provisions shall continue to apply as to your Award only to the portion of your Award that is eligible to vest based on achievement of the Pacritinib Approval Performance Goal (and only if a qualifying termination of your employment or service or a Change in Control occurs prior to December 31, 2016 and before such goal has otherwise been satisfied).  The Acceleration Provisions as applicable to any Performance Goal other than the Pacritinib Approval Performance Goal are hereby eliminated. This paragraph controls in the event of any inconsistency with any other agreement between you and the Company.
3.    Except as expressly set forth herein, the Award Agreement shall remain in full force and effect in accordance with its original terms.  This Amendment may be executed in one or more counterparts, including via electronic transmission, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  You hereby agree that you (or your beneficiary or personal representative in the event of your death or disability) shall execute and deliver any additional documents (including any documents that the Company may request to confirm the transfer of the unvested, forfeited restricted shares to the Company) and take any other actions that the Company may request as necessary to effect the intent of this Amendment. 
[Remainder of page intentionally left blank]

If this Amendment accurately sets forth our understanding with respect to the foregoing matters, please indicate your acceptance by signing this Amendment below and returning it to me.  A duplicate copy of this Amendment is included for your records.
  
CTI BioPharma Corp.
By:  __________________________    
Print Name:  ___________________
Title:  _________________________
Accepted and Agreed:

_________________________________________                        
__________________ex4-2.htm

 

Exhibit 4.2

 

AMENDMENT TO RIGHTS AGREEMENT

 

 

AMENDMENT TO RIGHTS AGREEMENT, (this “Amendment”), dated as of February 15, 2016 (the “Effective Date”), by and between Chicago Rivet & Machine Co., an Illinois corporation (the “Company”), and Continental Stock Transfer & Trust Company, as rights agent (the “Rights Agent”).  Any capitalized term used but not defined herein has the meaning assigned to it in the Rights Agreement.

 

W I T N E S S E T H

 

WHEREAS, the Company is party to a Rights Agreement, dated as of November 16, 2009, with the Rights Agent (the “Rights Agreement”);

 

WHEREAS, pursuant to Section 27 of the Rights Agreement, prior to the Distribution Date, the Company and the Rights Agent shall, if the Company so directs, supplement or amend any provision of the Rights Agreement without the approval of any holders of shares of Common Stock;

 

WHEREAS, the board of directors of the Company has determined that it is in the best interests of the Company and its stockholders to amend the Rights Agreement on the terms set forth herein;

 

WHEREAS, the Company hereby directs the Rights Agent to enter into this Amendment; and

 

WHEREAS, the Company has delivered to the Rights Agent a certificate from an appropriate officer of the Company which states that this Amendment is in compliance with the terms of Section 27 of the Rights Agreement.

 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the parties hereby agree as follows:

 

Section 1. Amendment of Section 7(a) of Rights Agreement. Clause (i) in paragraph (a) of Section 7 of the Rights Agreement is hereby amended and restated in its entirety as follows:

 

(i) 5:00 P.M., New York City time, on February 29, 2016 (the “Final Expiration Date”),

 

Section 2. Amendment of Exhibit C to Rights Agreement. The third paragraph of Exhibit C to the Rights Agreement is hereby amended and restated in its entirety as follows:

 

The Rights are not exercisable until the Distribution Date and will expire at 5:00 P.M. (New York City time) on February 29, 2016, unless such date is extended or the Rights are earlier redeemed, exchanged or terminated by the Company.

 

Section 3. No Other Amendment; Effect of Amendment. The parties hereto hereby acknowledge and agree that, except as specifically amended hereby, the Rights Agreement shall

 

  

  

  

 

remain in full force and effect in accordance with its terms. This Amendment is an amendment to the Rights Agreement and shall become effective on the Effective Date. All references to the Rights Agreement shall, from and after the Effective Date, be deemed to be references to the Rights Agreement as amended hereby.

 

Section 4. Further Assurances. Each of the parties to this Amendment shall cooperate and take such action as may reasonably be requested by the other party in order to carry out the provisions and purposes of this Amendment, the Rights Agreement as amended by this Amendment and the transactions contemplated hereby and thereby.

 

Section 5. Severability. If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment shall remain in full force and effect and shall in no way be affected, impaired or invalidated; provided, however, that notwithstanding anything in this Amendment or the Rights Agreement to the contrary, if any such term, provision, covenant or restriction is held by such court or authority to be invalid, void or unenforceable and the Board of Directors of the Company determines in its good faith judgment that severing the invalid language from this Amendment would adversely affect the purpose or effect of the Rights Agreement, the right of redemption set forth in Section 23 of the Rights Agreement hereof shall be reinstated and shall not expire until the close of business on the tenth day following the date of such determination by the Board of Directors.

 

Section 6. Governing Law. This Amendment shall be deemed to be a contract made under the laws of the State of Illinois and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts made and to be performed entirely within such State.

 

Section 7. Execution in Counterparts. This Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute one and the same instrument. A signature to this Amendment executed and/or transmitted electronically shall have the same authority, effect, and enforceability as an original signature.

 

Section 8. Descriptive Headings. Descriptive headings of the several sections of this Amendment are inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof.

 

Section 10. Defined Terms. Except as otherwise expressly provided herein, or unless the context otherwise requires, all capitalized terms used herein have the meanings assigned to them in the Rights Agreement.

 

[Signature page follows.]

 

  

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed and effective as of the day and year above written.

	  	
CHICAGO RIVET & MACHINE CO.

	  	  	  
	  	  	  
	  	  	  
	  	
By:  

	
/s/ Michael J. Bourg

	  
	  	
Name:     Michael J. Bourg

	  	
Title:       President and Treasurer

	  	  	  
	  	  	  
	  	
CONTINENTAL TRANSFER & TRUST COMPANY

	  	  	  
	  	  	  
	  	  	  
	  	
By:  

	
/s/ Margaret Villani

	  
	  	
Name:     Margaret Villani

	  	
Title:       Vice-President

 

 

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