Document:

Unassociated Document

    

    ASSET
PURCHASE AGREEMENT

    

    BETWEEN

    

    SHOUGUANG
CITY HAOYUAN CHEMICAL COMPANY LIMITED,

    

    GULF
RESOURCES, INC.

    

    AND

    

    Fengxia
Yuan, Han Wang, Qing Yang

    

    DATED AS
OF

    

    September
   7  ,
2009

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    --------------------------------------------------------------------------------

    

    INDEX OF
SCHEDULES AND EXHIBITS

     

    1.
Shouguang City Yingli Township Beishan Village Leased Property and Asset
Checklist

    

    
      
        
          

        

         

        
          
             

          

          
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This
ASSET PURCHASE AGREEMENT (this "AGREEMENT") is entered into as of September 7,
2009 (the "Effective Date") by and between the following Parties:

    

    (1)
SHOUGUANG CITY HAOYUAN CHEMICAL COMPANY LIMITED, a company validly existing
under the laws of China ("SCHC"), a subsidiary of Gulf Resources,
Inc.;

    

    (2) GULF
RESOURCES, INC. (“GUFR”); and

    

    (3)
Fengxia Yuan,Han Wang and Qing
Yang, three individual residents of China (the “Sellers”) who collectively own
private land use rights located in the Shouguang City Yingli Township Beishan
Village as further described on Schedule 1 attached hereto (the “Leased
Property”)

    

    WHEREAS:
Fengxia Yuan,Han Wang and Qing
Yang wish to sell, transfer and convey certain assets listed on Schedule 1
hereto, to SCHC, and SCHC
wishes to purchase and acquire the same from the Sellers.

    

    NOW,
THEREFORE, in consideration of the mutual promises contained herein, and for
good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties agree as
follows:

    

    1.
CERTAIN DEFINITIONS

    

    "Ordinary
Course of Business" shall mean an action taken by Fengxia Yuan,Han Wang and Qing
Yang if such action is taken in normal operation of the assets, consistent with
past practices.

    

    "Closing"
The closing of the transactions contemplated by this Agreement (the "Closing")
shall take place at SCHC's offices, on or before September 30, 2009 and in no
event later than September 30, 2009 (the "Closing Date").

    

    "GUFR"
shall mean Gulf Resources, Inc., a Delaware corporation and parent of
SCHC.

    

    "GUFR
Common Stock" shall mean the common stock of GUFR.

    

    "Person"
shall mean any individual, entity or governmental body.

     

    
      
         

      

      
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    2.
TRANSFER OF THE ASSETS

    

    2.1
Fengxia Yuan,Han Wang and Qing
Yang agree that, upon the Closing, they will sell, transfer and deliver its
asset with annual bromine production 4,000 tons and crud salt 150,000 tons unto
SCHC, its successors and assigns forever, by duly executed deed(s), bills of
sale, assignment(s) or other instrument(s) of conveyance, for the consideration
hereinafter provided, all of the Sellers’ right, title and interest in and to
all assets owned by  Fengxia Yuan,Han Wang and Qing
Yang located at the Shouguang City Yingli Township Beishan Village, including,
but not limited to, machinery, equipment, inventory (raw materials,
work-in-progress and finished goods), and any warranties associated therewith;
said assets to be limited to those listed and described on Schedule 1 attached
hereto and incorporated herein by reference (the "Purchased
Assets").

    

    2.2 As
full consideration for the sale, assignment, transfer and delivery of Purchased
Assets to SCHC and for the value of the rights to the Leased Property , and upon
the terms and subject to all of the conditions contained herein,

    (a) SCHC
shall pay to the Sellers the sum of RMB78, 400,000 in cash ( 70% of the total
purchase price) in the aggregate; and

    (b) GUFR
shall issue to the Sellers GUFR Common Stock in the principal amount of RMB33,
600,000 in the aggregate (the “Purchase Price Shares”).

    

    2.3 The
parties understand and acknowledge that the total purchase price for the
Purchased Assets and the Leased Property is RMB112,000,000 (the "Purchase
Price") and that the Purchase Price is based upon an approximate valuation of
the Shouguang City Yingli Township Beishan Village at RMB112,000,000. The number
of "Purchase Price Shares" shall be Four Million Two Hundred Twenty Nine
Thousand Three Hundred Sixty Six (4,229,366), based on a price of $1.163 per
share, which is the average closing price of the Company’s Common Stock on the
Over-the Counter Bulletin Board for the 30 trading days prior to the Effective
Date and an exchange rate of $1 = RMB6.8310, which is the published average
exchange rate of the People’s Bank of China on September 4, 2009. The Purchase
Price Shares will be delivered to the sellers within twenty (20) days after the
closing date.

     

    
      
         

      

      
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2.4 Upon
execution of this Agreement by all of the parties, SCHC shall deliver to Fengxia
Yuan,Han Wang
and Qing Yang a security deposit of RMB15,680,000 (the "Security Deposit").
Three days after the date hereof, SCHC will establish an asset assessment team
to assess the condition and the operation of  the Purchased Assets and
the Leased Property for transfer and conveyance to SCHC. Thereafter, SCHC shall
pay the remainder of the cash portion before September 30, 2009 of the receipt
of a report from the assessment team that is acceptable to SCHC with respect to
the Purchased Assets and Leased Property.  If the report concludes
that the condition of the Purchased Assets is not acceptable, SCHC and the
Sellers shall negotiate a reduction in the Purchase Price.  If such
amount can not be mutually agreed, SCHC shall have the right to terminate this
Agreement and the Security Deposit shall be returned to SCHC.  As of
the date hereof, both parties have started the formal transfer procedures
(including the related property lease contracts, etc.)

    

    2.5 If
SCHC cannot pay off the remainder of the cash portion within the time period
provided in Section 2.4 above, the Sellers have the right to terminate this
Agreement and to retain the Security Deposit with no further obligations or
liabilities to SCHC or GUFR.

    

    2.6 As a
result of this Agreement, the Purchased Assets including, without limitation,
any and all bromine and crude salt that can be produced on the Leased Property,
buildings, equipment, wells, pipelines, and power circuits will be acquired by
SCHC; provided, however, that any and all debts, obligations and liabilities
(the “’Obligations”) of Fengxia Yuan,Han Wang and Qing
Yang relating to the Purchased Assets and the Leased Property are specifically
excluded from such Purchased Assets and shall remain the Obligations of the
Sellers after the Closing.

    

    3.
REPRESENTATIONS AND WARRANTIES

    

    3.1 Each
of  FENGXIA YUAN,HAN WANG AND QING
YANG represent and warrant to SCHC the following:

    

    (a)
Authority.  FENGXIA YUAN,HAN WANG AND QING
YANG each has the individual power and authority to execute and deliver this
Agreement
and to perform his respective obligations hereunder, and to consummate the
transactions hereby, and upon the execution and delivery of the instruments and
documents specified herein, except for the covenant by the Sellers to assist
SCHC to sign a new 50 year land lease contract with the village for the Leased
Property. no further action will be required of  FENGXIA YUAN,HAN WANG AND QING
YANG to vest legal title to and possession of the Purchased Assets and the
Leased Property in the name of the Purchaser, its successors and assigns
forever.

     

    
      
         

      

      
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    (b) Title
to Assets.  FENGXIA YUAN,HAN WANG AND QING
YANG have good and marketable title to the Purchased Assets and have the
appropriate land use right certificates, or other required governmental approval
evidencing the rights to use the Leased Property and ability to transfer the
Leased Property, free and clear of liens or encumbrances of any kind and no
person, firm or corporation has any undisclosed adverse interest
therein.  The lease payment due under the 50-year land lease for the
Leased Property has been paid-off.

    

    (c)
Condition of Purchased Assets. The Purchased Assets are in good operating
condition and repair, ordinary wear and tear excepted, and are suitable for
continued use by SCHC in the production of bromine. The material buildings,
plants, machinery and equipment and other Purchased Assets listed on Schedule 1
hereto, necessary in connection with the production of bromine located on the
Leased Property as presently conducted are structurally sound, are in good
operating condition and repair and are adequate for the uses to which they are
being put or would be put in the Ordinary Course of Business, in each case,
taken as a whole, and none of such buildings, plants, machinery or equipment is
in need of maintenance or repairs, except for ordinary, routine maintenance and
repairs that are not material in nature or cost.

    

    (d)
Disclosure. No representation or warranty by  FENGXIA YUAN,HAN WANG AND QING
YANG contained in this Agreement or any written statement furnished to SCHC
pursuant hereto or in connection with the transactions contemplated by this
Agreement, contains any untrue statement of a material fact, or omits to state a
material fact necessary to make the statement contained herein or therein true
and not misleading.

    

    (e)
Reliance. The foregoing representations and warranties have been made
by  FENGXIA YUAN,HAN WANG AND QING
YANG with the knowledge and expectation that SCHC is placing reliance thereon,
and all such representations and warranties shall survive the Closing for a
period of one (1) year.

    

    3.2 Each
of SCHC and  FENGXIA YUAN,HAN WANG AND QING
YANG represents and warrants respectively to the other as follows:

    

    (a) Each
of SCHC and  FENGXIA YUAN,HAN WANG AND QING
YANG warrants that has taken all necessary actions for the execution and
performance of this Agreement.

    

    (b)
Except as otherwise disclosed, the performance of the transaction contemplated
hereunder is not subject to the consent, approval or order of any governmental
authorities or any other third parties, nor is it subject to any conditions
precedent as registration with, qualification verification by or document
delivery to any governmental authorities or any other third
parties.

     

    
      
         

      

      
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    3.3 Investment
Representations of the Sellers:

     

    (a)  Intent. Each of the
Sellers warrants that they are acquiring the Purchase Price Shares for their own
account and not for the account or benefit of any U.S. person, and not with a
view towards the distribution or dissemination thereof.

     

    (b)  Independent
Investigation.  Each of the Sellers, in making the decision to
acquire the Purchase Price Shares has relied upon an independent investigation
of the Company and has not relied upon any information or representations made
by any third parties or upon any oral or written representations or assurances
from the Company, its officers, directors or employees or any other
representatives or agents of the Company, other than as set forth in this
Agreement. Each of the Sellers is familiar with the business, operations and
financial condition of the Company and has had an opportunity to ask questions
of, and receive answers from, the Company’s officers and directors concerning
the Company and the Purchase Price Shares and has had full access to such other
information concerning the Company as each of the Sellers has
requested.

     

    (c) Reliance on Representations
and Warranties.  Each of the Sellers understands that the
Purchase Price Shares are being offered and sold to the Purchaser in reliance on
specific provisions of United States federal and state securities laws and that
the Seller is relying upon the truth and accuracy of the representations,
warranties, agreements, acknowledgments and understandings of each of the
Sellers set forth in this Agreement in order to determine the applicability of
such provisions.

     

    (d)  Each
of the Sellers is a “non-US person” as defined in Regulation S and further makes
the representations and warranties as set forth on Exhibit “B” attached
hereto.

    

    4.  COVENANTS
OF THE SELLERS

    4.1  FENGXIA
YUAN,HAN WANG
AND QING YANG covenant that if there are more than ten wells that cannot be used
and if there is more than 200 meters of pipeline that cannot be used located at
the Leased Premises, the Sellers will deduct an amount equal to 2 times the
total replacement value of such wells and pipelines from the Purchase
Price.

    

    4.2  FENGXIA
YUAN,HAN WANG
AND QING YANG covenant that upon the Closing, the contract signed between
Fengxia Yuan,Han Wang and Qing
Yang and the village for 11.02KM2 property’s 50 years lease will be
automatically canceled, and   FENGXIA YUAN,HAN WANG AND QING
YANG will help SCHC to sign a new 50 years land lease contract with the village,
and if the Sellers do not provide such assistance, the Sellers would have to pay
SCHC 10% of the Security Deposit as the compensation fee.

     

    
      
         

      

      
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    4.3 As of
the Closing,  FENGXIA YUAN,HAN WANG AND QING
YANG shall cancel the employment contract with any previous employees
and  pay staff wages and compensation according to relevant national
laws and regulations.

    

    4.4 As of
the Closing,  FENGXIA YUAN,HAN WANG AND QING
YANG shall settle all the contacts with original suppliers and customers, and
shall pay at Closing, or be bound in their individual capacities to pay all the
corresponding debt and obligations. .

    

    4.5  SCHC
is buying  the Purchased Assets from  FENGXIA YUAN,HAN WANG AND QING
YANG , and has no relationship or affiliation with the Sellers or
the  original operations of the Purchased Assets, and as a result is
not assuming any rights and/or duties with respect to the operations of the
Purchased Assets, including without limitation, no rights to (a) customers and
supplier lists (other than such customers or suppliers who have pre-existing
relationships with SCHC), (b) employees; (c) market distribution systems; (d)
sales force; (e) operating rights; (f) production techniques, or (g) trade
names.

    

    5.
INDEMNIFICATION

    

    5.1  FENGXIA
YUAN,HAN WANG
AND QING YANG agrees to indemnify, hold harmless and reimburse SCHC at all times
after the Closing, against and with respect to:

    

    (a) any
damage or deficiency resulting from any misrepresentation, breach of warranty or
non-fulfillment of any covenant or agreement on the part of  FENGXIA
YUAN,HAN WANG
AND QING YANG made in this Agreement, any other agreement or instrument
delivered by  FENGXIA YUAN,HAN WANG AND QING
YANG at the Closing;

    

    (b) any
damages or claims asserted against the Purchaser on account of any liability
of  FENGXIA YUAN,HAN WANG AND QING
YANG in connection with his ownership of the Purchased Assets and the Leased
Property , whether arising prior to or after the transfer of ownership of the
Leased Property from  FENGXIA YUAN,HAN WANG AND QING
YANG to SCHC,

    

    (c) all
actions, suits, proceedings, demands, assessments, judgments, costs and
expenses, including reasonable attorneys' fees, incident to the
foregoing.

     

    
      
         

      

      
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    6.
MISCELLANEOUS PROVISIONS.

    

    6.1 No
Assumption of Liabilities. Except as specifically set forth in this Agreement,
nothing in this Agreement shall be construed to impose upon SCHC the assumption
of any claim against or liability or obligation of  FENGXIA YUAN,HAN WANG AND QING
YANG, arising out of his
business, or the use, operation or possession of the Purchased Assets, through
the Closing, or thereafter.

     

    6.2
Restrictive
Legend.  Each certificate representing Purchase Price Shares
shall be stamped or otherwise imprinted with a legend substantially in the
following form:

     

    “THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE
SECURITIES LAWS AND NEITHER SUCH SECURITIES NOR ANY INTEREST THEREIN MAY BE
OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED EXCEPT (1) IN
ACCORDANCE WITH THE PROVISIONS OF REGULATION S PROMULGATED UNDER THE SECURITIES
ACT, AND BASED ON AN OPINION OF COUNSEL, WHICH COUNSEL AND OPINION ARE
REASONABLY SATISFACTORY TO THE COMPANY, THAT THE PROVISIONS OF REGULATION S HAVE
BEEN SATISFIED, (2) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR (3) PURSUANT TO AN
AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND
APPLICABLE STATE SECURITIES LAWS, IN WHICH CASE THE HOLDER MUST, PRIOR TO SUCH
TRANSFER, FURNISH TO THE COMPANY AN OPINION OF COUNSEL, WHICH COUNSEL AND
OPINION ARE REASONABLY SATISFACTORY TO THE COMPANY, THAT SUCH SECURITIES MAY BE
OFFERED, SOLD, PLEDGED, ASSIGNED OR OTHERWISE TRANSFERRED IN THE MANNER
CONTEMPLATED PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION
REQUIREMENTS OF THE SECURITIES ACT AND APPLICABLE STATE SECURITIES
LAWS.  HEDGING TRANSACTIONS INVOLVING THE SECURITIES REPRESENTED BY
THIS CERTIFICATE MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE SECURITIES
ACT.”

    

    6.3 Books
and Records. Those books and records reasonably deemed primarily to relate to
the Purchased Assets and maintained separately from the other records
of  FENGXIA YUAN,HAN WANG AND QING
YANG shall be delivered to and become the property of SCHC.

     

    
      
         

      

      
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    6.4
Expenses of Negotiation and Transfer. Each party to this Agreement shall pay its
own expenses and other costs incidental to or resulting from this Agreement,
whether or not the transactions contemplated hereby are
consummated.

    

    6.5
Entire Agreement. This Agreement, along with the documents and agreements to be
executed in connection herewith, constitutes the full understanding of the
parties, a complete allocation of risks between them and a complete and
exclusive statement of the terms and conditions of their agreement relating to
the subject matter hereof and supersedes any and all prior agreements, whether
written or oral, that may exist between the parties with respect thereto. Except
as otherwise specifically provided in this Agreement, no conditions, usage of
trade, course of dealing or performance, understanding or agreement purporting
to modify, vary, explain or supplement the terms or conditions of this Agreement
shall be binding unless hereafter made in writing and signed by the party to be
bound, and no modification shall be effected by the acknowledgment or acceptance
of documents containing terms or conditions at variance with or in addition to
those listed in this Agreement. No waiver by any party with respect to any
breach or default or of any right or remedy and no course of dealing shall be
deemed to constitute a continuing waiver of any other breach or default or of
any other right or remedy, unless such waiver be expressed in writing signed by
the party to be bound. Failure of a party to exercise any right shall not be
deemed a waiver of such right or rights in the future.

    

    6.6
Binding Effect. All of the covenants, conditions, agreements and undertakings
set forth in this Agreement shall extend to and be binding
upon  FENGXIA YUAN,HAN WANG AND QING
YANG and SCHC and their respective successors and assigns.

    

    6.7
Assignability. Neither this Agreement nor any right, remedy, obligation or
liability arising hereunder or by reason hereof nor any of the documents
executed in connection herewith may be assigned by any party without the consent
of the other parties

    

    6.8
Headings. Headings as to the contents of particular Sections are for
convenience
only and are in no way to be construed as part of this Agreement or as a
limitation of the scope of the particular Sections to which they
refer.

    

    6.9
Exhibits and Schedules. The Exhibits and Schedules (and any appendices
thereto)
referred to in this Agreement are and shall be incorporated herein and made a
part hereof.

     

    
      
         

      

      
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6.10
Counterparts. This Agreement may be executed in three (3) or more counterparts,
each of which will be deemed to be an original copy of this Agreement
and all of which, when taken together will constitute an integral party of this
Agreement.

     

    IN
WITNESS HEREOF the Parties hereto  have caused this Agreement to be
executed by their duly authorized representatives as of the date first
hereinabove mentioned.

    
 

    
      
        	SCHC:
      SHOUGUANG CITY HAOYUAN CHEMICAL COMPANY LIMITED  
	 	 	 	 	 	 
	 	 	 	 	 	 
	Signed
      by:  	
                /s/
      Ming Yang

              	 	 	
                 

              	 
	Name:  	Ming Yang	 	 	
                 

              	 
	Position:  	
                CEO

              	 	 	
                 

              	 

      

    

     

    
      
        
          	
                  FENGXIA
      YUAN,HAN WANG AND
      QING YANG: Owners of Shouguang City Yingli Township Beishan
      Village

                
	 	 	 	 	 	 
	 	 	 	 	 	 
	Signed
      by:  	
                  /s/
      FENGXIA YUAN

                	 	 	
                   

                	 
	Name:  	
                  FENGXIA YUAN

                	 	 	
                   

                	 

        

      

      
        
          	 	 	 	 	 	 
	 	 	 	 	 	 
	Signed
      by:  	
                  /s/
      HAN WANG

                	 	 	
                   

                	 
	Name:  	
                  HAN
      WANG

                	 	 	
                   

                	 

        

      

      
        
          	 	 	 	 	 	 
	 	 	 	 	 	 
	Signed
      by:  	
                  /s/
      QING YANG

                	 	 	
                   

                	 
	Name:  	
                  QING
      YANG

                	 	 	
                   

                	 

        

      

       

    

    As to
Section 2.2(b) and 2.3 only:

    

    AGREED as
of the date first above written:

    

    
      
        
          	      
                  GUFR:
      GULF RESOURCES, INC.

                
	 	 	 	 	 	 
	 	 	 	 	 	 
	Signed
      by:  	
                  /s/
      Xiao Bin Liu

                	 	 	
                   

                	 
	Name:  	Xiao Bin Liu	 	 	
                   

                	 
	Position:  	
                  CEO

                	 	 	
                   

                	 

        

      

    

     

    

      11EXHIBIT 4.1 

FORM OF COMMON STOCK AND WARRANT
PURCHASE AGREEMENT 

     THIS COMMON
STOCK AND WARRANT PURCHASE AGREEMENT (“Agreement”) is made and entered into as of September 9, 2009 (the
“Effective Date”), by and between GERON CORPORATION, a Delaware corporation
having its principal place of business at 230 Constitution Drive, Menlo Park,
California 94025 (the “Company”), and _______________,
each may be referred to individually herein as an “Investor”, and collectively as
the “Investors”. 

	     	A.	
      The Company desires to sell, and
      the Investors desire to purchase, shares of the Company’s common stock,
      par value $0.001 per share (the “Common Stock”).

		          	
		B.	
      In connection with entering into
      this Agreement, the Company shall issue to the Investors certain Stock
      Purchase Warrants (each, a “Warrant”
      and collectively, the
      “Warrants”) pursuant to which
      the Investors may purchase up to an aggregate of 150,000 additional shares
      of Common Stock at a price per share of $9.00 per share (as adjusted for
      any stock dividends paid in common stock, and any combinations, stock
      splits, recapitalizations and the like each with respect to the Common
      Stock). The shares of Common Stock issuable upon exercise of the Warrants
      are collectively referred to herein as the “Warrant Shares.”

		 
		C.	
      The issuance of the Shares (as
      defined below), the Warrants and Warrant Shares to the Investors have been
      registered on the Company’s Registration Statement on Form S-3,
      Registration No. 333-160498, which was declared effective by the
      Securities and Exchange Commission (the “SEC”) on July 22, 2009 (the “Registration Statement”).

THE PARTIES AGREE AS
FOLLOWS: 

1.
PURCHASE AND SALE OF COMMON STOCK AND
WARRANTS. 

	     	1.1	
      Subject to the terms and
      conditions of this Agreement, each Investor agrees, severally but not
      jointly, to purchase at the Closing (as defined below), and the Company
      agrees to sell and issue to each Investor at the Closing, (i) that number
      of shares of Common Stock set forth opposite each Investor’s name on
      Exhibit A hereto and (ii) Warrants exercisable for that number of shares of
      Common Stock set forth opposite each Investor’s name on Exhibit A hereto.
      The shares of Common Stock to be sold pursuant to this Agreement are
      collectively referred to herein as the “Shares,” and the Shares, the
      Warrants and the Warrant Shares are collectively referred to herein as the
      “Securities”. The aggregate purchase price of the Securities shall
      be $3,602,500 (the “Aggregate
      Purchase Price”). The number of
      shares of Common Stock to be issued to Investors hereunder is determined
      by dividing the Aggregate Purchase Price by $6.55.

		          	
		1.2	
      At the Closing, the Company shall
      issue a Warrant to each Investor. The Warrants shall be exercisable for up
      to an aggregate total of 150,000 shares of Common Stock. The Warrants
      shall be in substantially the form attached hereto as Exhibit B.

1 

2.
CLOSING; DELIVERY OF COMMON STOCK AND
WARRANTS. 

		2.1	The
      consummation of the transaction contemplated by this Agreement (the
      “Closing”) shall be held at such time and place as is mutually
      agreed upon between the parties, but in any event no later than the close
      of business on September 9, 2009 (the “Closing Date”). Prior to the
      Closing, the Company and each of the Investors shall deliver all
      documents, instruments and writings required to be delivered by any of
      them pursuant to this Agreement in order to implement and effect the
      transactions contemplated herein. At the Closing, (i) the Investors shall
      pay the Aggregate Purchase Price by wire transfer of immediately available
      funds to the Company (in accordance with the Company’s written
      instructions), and (ii) the Company shall deliver to each Investor (a) a
      certificate or certificates representing that number of Shares purchased
      hereunder as set forth on Exhibit A
      and (b) a Warrant in substantially the form
      attached hereto as Exhibit B
      representing that number of Warrant Shares
      purchased hereunder.
	     	          	
		2.2	The
      Company’s obligations to issue and deliver the stock certificate(s)
      representing the Shares to the Investors at the Closing shall be subject
      to the following conditions, any one or more of which may be waived by the
      Company:
		 
		 	2.2.1	     	the covenants and
      obligations that the Investors are required to perform or to comply with
      pursuant to this Agreement, at or prior to the Closing, must have been
      duly performed and complied with in all material respects;
					 
		 	2.2.2		the representations
      and warranties made by the Investors herein shall be true and correct in
      all material respects as of the Closing Date; and
		 
		 	2.2.3		each Investor shall
      have entered into a Lock-up Agreement with the Company, in the form
      attached hereto as Exhibit C
      (the “Lock-up Agreement”).
		 
		2.3	Each
      Investor’s obligation to accept delivery of the stock certificate(s)
      representing the Shares at the Closing shall be subject to the following
      conditions, any one or more of which may be waived by the
    Investors:
		 
		 	2.3.1		the covenants and
      obligations that the Company is required to perform or to comply with
      pursuant to this Agreement, at or prior to the Closing, must have been
      duly performed and complied with in all material respects;
		 
		 	2.3.2		the representation and
      warranties made by the Company herein shall be true and correct in all
      material respects as of the Closing Date.

2 

3.
RESTRICTIONS ON RESALE OF
SHARES. 

	     	3.1	Legends. Each Investor
      understands, acknowledges and agrees that the Shares and any Warrant
      Shares issued during the Lock-Up Period (as defined in the Lock-Up
      Agreement) are subject to the terms and conditions of the Lock-Up
      Agreement. Each stock certificate representing the Shares and any Warrant
      Shares issued during the Lock-Up Period shall bear the following
      legend:
		          	
		 	“UNTIL SEPTEMBER 9,
      2010, THE SHARES REPRESENTED BY THIS CERTIFICATE MAY BE TRANSFERRED ONLY
      IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THE LOCK-UP AGREEMENT
      BETWEEN THE COMPANY AND THE HOLDER OF THIS CERTIFICATE, A COPY OF WHICH IS
      ON FILE AT THE PRINCIPAL OFFICE OF THE
COMPANY.”

4.
INDEMNIFICATION. 

	     	4.1	The Company agrees to indemnify
      and hold harmless each Investor against any and all losses, claims,
      damages or liabilities (or actions or proceedings in respect thereof),
      joint or several, directly or indirectly based upon or arising out of (i)
      any untrue statement or alleged untrue statement of any material fact
      contained in the Registration Statement, any prospectus or prospectus
      supplement filed with the SEC and used in connection with the offering of
      the Securities, or (ii) any omission or alleged omission to state a
      material fact in the Registration Statement, any prospectus or prospectus
      supplement filed with the SEC and used in connection with the offering of
      the Securities, or any amendment or supplement thereto, required to be
      stated therein or necessary to make the statements therein, in light of
      the circumstances under which they were made, not misleading; and the
      Company will reimburse each Investor for any legal or any other expenses
      reasonably incurred by it in connection with investigating, preparing,
      pursuing or defending any such loss, claim, damage, liability, action or
      proceeding, except insofar as any such loss, claim, damage, liability,
      action, proceeding or expense arises out of or is based upon (A) an untrue
      statement or alleged untrue statement or omission or alleged omission made
      in the Registration Statement, any prospectus or prospectus supplement, or
      any amendment or supplement thereto, in reliance upon and in conformity
      with written information furnished to the Company by or on behalf of any
      Investor expressly for use in the preparation thereof, (B) the failure of
      any Investor to comply with its covenants and agreement contained in
      Section 6 hereof, or (C) any untrue statement, alleged untrue statement,
      or omission or alleged omission in any prospectus or prospectus supplement
      that is corrected in any subsequent prospectus that was delivered to each
      Investor prior to the pertinent sale or sales by each Investor. Such
      indemnity shall remain in full force and effect, regardless of any
      investigation made by any Investor and shall survive the transfer of the
      Securities by the each Investor. 
		          	

3 

	     	4.2	
      Each Investor agrees to indemnify and hold
      harmless the Company (and each person, if
      any, who controls the Company within the meaning of Section 15 of the
      Securities Act of 1933, as amended (the “Securities Act”), or Section
      20 of the Securities Exchange Act of 1934, as amended (the
      “Exchange Act”), and each officer of the Company who signs the
      Registration Statement and each director of the Company) from and against
      losses, claims, damages or liabilities (or actions or proceedings in
      respect thereof), joint or several, directly or indirectly, based upon or
      arising out of (i) any failure of the Investors to comply with the
      covenants and agreements contained in Section 6 hereof of (ii) untrue
      statement or alleged untrue statement of a material fact contained in the
      Registration Statement, any prospectus or prospectus supplement filed with
      the SEC and used in connection with the offering of the Securities or any
      amendment or supplement thereto, or any omission or alleged omission of a
      material fact required to be stated in the Registration Statement, any
      prospectus or prospectus supplement filed with the SEC and used in
      connection with the offering of the Securities, or any amendment or
      supplement thereto, required to be stated therein or necessary to make the
      statements therein, in light of the circumstances under which they were
      made, not misleading if such untrue statement, alleged untrue statement,
      omission or alleged omission was made in reliance upon and in conformity
      with written information furnished to the Company by on behalf of the
      Investors specifically for use in preparation of the Registration
      Statement, any prospectus or prospectus supplement; provided, however,
      that the Investors shall not be liable in any such case for (A) any untrue
      statement, alleged untrue statement, omission or alleged omission in the
      Registration Statement, any prospectus or prospectus supplement, or other
      such document which statement is corrected by the Investors and delivered
      to the Company prior to the sale from which such loss occurred, (B) any
      untrue statement, alleged untrue statement, omission or alleged omission
      in any prospectus which is corrected by the Investors in any subsequent
      prospectus, or supplement or amendment thereto, and delivered to the
      Company prior to the sale or sales from which a loss or liability arose,
      or (C) any failure by the Company to fulfill any of its obligations under
      Section 4.1 hereof.

		          	
		4.3	Promptly after receipt
      by any indemnified party or person of a notice of a claim or the beginning
      of any action in respect of which indemnity is to be sought against an
      indemnifying party pursuant to this Section 4, such indemnified party or
      person shall notify the indemnifying party in writing of such claim or of
      the commencement of such action, but the omission to so notify the
      indemnifying party will not relieve it from any liability which it may
      have to any indemnified party or person under this Section 4 (except to
      the extent that such omission materially and adversely affects the
      indemnifying party’s ability to define such action) or from any liability
      otherwise than under this Section 4. Subject to the provisions hereinafter
      stated, in case any such action shall be brought against an indemnified
      party or person, the indemnifying party shall be entitled to participate
      therein, and, to the extent that it shall elect by written notice
      delivered to the indemnified party or person promptly after receiving the
      aforesaid notice from such indemnified party or person, shall be entitled
      to assume the defense thereof, with counsel reasonably satisfactory to
      such indemnified party or person. After notice from the indemnifying party
      to such indemnified party or person of its election to assume the defense
      thereof, such indemnifying party shall not be liable to such indemnified
      party or person for any legal expense subsequently incurred by such
      indemnified party or person in connection with the defense thereof,
      provided, however, that if there exists or shall exist a conflict of
      interest that would make inappropriate, in the reasonable opinion of
      counsel to the indemnified party or person, for the same counsel to
      represent both the indemnified party or person and such indemnifying party
      or any affiliate or associate thereof, the indemnified party or person
      shall be entitled to retain its own counsel at the expense of such
      indemnifying party; provided, however, that no indemnifying party shall be
      responsible for the fees and expenses of more than one separate counsel
      (together with appropriate local counsel) for all indemnified parties or
      persons. In no event shall any indemnifying party be liable in respect to
      any amounts paid in settlement of any action unless the indemnifying party
      or person shall have approved the terms of such settlement. No
      indemnifying party shall, without the prior written consent of the
      indemnified party or person, effect any settlement of any pending or
      threatened proceeding in respect of which any indemnified party or person
      is a party, unless such settlement includes an unconditional release of
      such indemnified person from all liability on claims that are the subject
      matter of such proceeding.  

4 

		4.4	
      The provisions of this Section 4
      shall survive the termination of this Agreement.

	     	          	
	
      5. REPRESENTATIONS AND
      ACKNOWLEDGEMENT OF THE COMPANY.

	 
		
      The Company hereby represents,
      warrants and covenants to the Investors as follows:
  

		5.1	Organization, Good
      Standing and Qualification. The Company
      is a corporation duly organized, validly existing and in good standing
      under the laws of the State of Delaware and has all requisite corporate
      power and authority to carry on its business as now conducted. The Company
      is duly qualified to transact business and is in good standing as a
      foreign corporation in each jurisdiction in which the failure to so
      qualify would have a material adverse effect on its business or
      properties. 
	     	          	
		5.2	Authorization. All corporate
      action on the part of Company necessary for the authorization, execution
      and delivery of this Agreement and the Warrants, the performance of all
      obligations of Company hereunder and the authorization, issuance and
      delivery of the Shares and Warrants has been taken or will be taken prior
      to the Closing. 
		 
		5.3	
      Valid Issuance of Securities. The Shares, when issued, sold and delivered in
      accordance with the terms hereof for the consideration expressed herein,
      and the Warrant Shares, when issued upon each Investor’s exercise of the
      Warrant issued to such Investor pursuant to the terms therein, will be
      duly and validly authorized and issued, fully paid and nonassessable and
      free of restrictions on transfer other than restrictions on transfer under
      this Agreement and the Lock-Up Agreement and applicable state and federal securities
  laws.

5 

	     	5.4	Legal Proceedings
      and Orders. To the knowledge of the
      Company, there is no action, suit, proceeding or investigation pending or
      threatened against the Company that questions the validity of this
      Agreement or the right of the Company to enter into this Agreement or to
      consummate the transactions contemplated hereby, nor is the Company aware
      of any basis for any of the forgoing. The Company is neither a party nor
      subject to the provisions of any order, writ, injunction, judgment or
      decree of any court or government agency or instrumentality that would
      affect the ability of the Company to enter into this Agreement or to
      consummate the transactions contemplated hereby.
		          	
		 
		5.5	Registration
      Statement. The Registration Statement
      is effective on the date hereof and the Company has not received notice
      that the SEC has issued or intends to issue a stop order with respect to
      the Registration Statement or that the SEC otherwise has suspended or
      withdrawn the effectiveness of the Registration Statement, either
      temporarily or permanently. The Company currently meets the “registrant
      eligibility” requirements set forth in the general instructions to Form
      S-3 applicable to both “primary” and “resale” registrations on Form
      S-3.
		 
		5.6	Consents. Except for filings
      under federal and applicable state securities laws and except for Permits
      (as defined below), the absence of which either individually or in the
      aggregate would not have a material adverse effect on the Company, all
      permits, consents, approvals, orders, authorizations of, or declarations
      to (collectively, “Permits”) or filings with
      any federal, state, local or foreign court, governmental or regulatory
      authority, or other person (including third party consents) required on
      the part of the Company in connection with the execution, delivery or
      performance of this Agreement and the consummation of the transactions
      contemplated herein have been obtained or will be obtained prior to the
      Closing Date, and will be effective as of the Closing
  Date.

6.
REPRESENTATIONS AND ACKNOWLEDGMENTS OF THE
INVESTORS. 

EACH INVESTOR hereby represents,
warrants, acknowledges and agrees that: 

	     	6.1	Governmental
      Review. Each Investor understands that
      no U.S. federal or state agency or any other government or governmental
      agency has passed upon or made any recommendation or endorsement of the
      Securities.
		          	
		6.2	Authorization;
      Enforcement. Each Investor has full
      right, power, authority and capacity to enter into this Agreement and to
      consummate the transactions contemplated hereby and has taken all
      necessary action to authorize the execution, delivery and performance of
      this Agreement. Upon execution and delivery, this Agreement will
      constitute a valid and binding obligation of each Investor enforceable
      against each Investor in accordance with its terms.
		 
		6.3	Absence of
      Conflicts. The execution and delivery
      by each Investor of this Agreement, the compliance by each Investor with
      all the provisions hereof, the performance by each Investor of all of its
      obligations hereunder, and the consummation of the transactions
      contemplated hereby will not (i) conflict with or constitute a breach of
      any of the terms or provisions of any agreement of any Investor with any
      other third party, or any duty owed by any Investor to any other third
      party, or (ii) violate or conflict with any laws applicable to any
      Investor.

6 

		6.4	Lock-Up Agreement.
      Each Investor has the full right,
      power, authority and capacity to enter into the Lock-up Agreement. Upon
      execution and delivery, the Lock-up Agreement constitutes a valid and
      binding obligation of each Investor enforceable against each Investor in
      accordance with its terms.
	     	          	
		6.5	Residency. Each Investor is a
      resident of the jurisdiction set forth immediately below each Investor's
      name on the signature page hereto. 
		 
		6.6	Access to
      Information. Each Investor has
      consulted with its own attorney, accountant, or investment advisor as each
      Investor has deemed advisable with respect to the investment and has
      determined its suitability for such Investor. Each Investor has had
      the opportunity to ask questions of, and to receive answers from,
      appropriate executive officers of the Company with respect to the terms
      and conditions of the transactions contemplated hereby and with respect to
      the business, affairs, financial condition and results of operations of
      the Company. Each Investor has had access to such financial and other
      information as is necessary in order for each Investor to make a fully
      informed decision as to investment in the Company, and has had the
      opportunity to obtain any additional information necessary to verify any
      of such information to which each Investor has had access. Each Investor
      acknowledges that neither the Company nor any of its officers, directors,
      employees, agents, representatives, or advisors have made any
      representation or warranty other than those specifically expressed
    herein.
		 
		6.7	Business and
      Financial Expertise. Each Investor
      further represents and warrants that it has such business or financial
      expertise as to be able to evaluate its investment in the Company and
      purchase of the Securities.
		 
		6.8	Speculative
      Investment. Each Investor acknowledges
      that the investment in the Company represented by the Securities is highly
      speculative in nature and is subject to a high degree of risk of loss in
      whole or in part; the amount of such investment is within each Investor’s
      risk capital means and is not so great in relation to any Investor’s total
      financial resources as would jeopardize the personal financial needs of
      any Investor in the event such investment were lost in whole or in
      part.
		 
		6.9	
      No Short Position. Each Investor represents and warrants that, as of the date of
      this Agreement, it does not have a Short Position in the Company’s Common
      Stock. Each Investor further covenants and agrees that during the period
      as of the date hereof and ending one (1) year thereafter, it will not have
      a Short Position. A “Short
      Position” shall mean a position
      resulting from a “short sale” as such transaction is described in Rule 200
      of Regulation SHO promulgated under the Exchange Act.

			 
		6.10	Orderly Sale. Each Investor agrees that if it decides to resell some or all of
      the Shares, it will do so only through orderly sales executed through a
      top-tier brokerage house. 

7 

	7.	     	TAX
      ADVICE. Each Investor acknowledges that
      such Investor has not relied and will not rely upon the Company or the
      Company’s counsel with respect to any tax consequences related to the
      ownership, purchase, or disposition of the Securities. Each Investor
      assumes full responsibility for all such consequences and for the
      preparation and filing of all tax returns and elections which may or must
      be filed in connection with the Securities.
	 
	8.		LEGAL
      ADVICE. Each Investor has independently
      consulted with legal counsel and after such consultation has deemed this
      investment to be advisable and this Agreement to be reasonable and
      proper.
	 
	9.		NOTICES. Any notice or other
      communication required or permitted hereunder shall be in writing and
      shall be deemed to have been duly given on the date of delivery if
      delivered personally or by facsimile, or one day, not including Saturdays,
      Sundays, or national holidays, after sending if sent by national overnight
      delivery service, or five days, not including Saturdays, Sundays, or
      national holidays, after mailing if mailed by first class United States
      mail, certified or registered with return receipt requested, postage
      prepaid, and addressed as follows:
	 

	To the Company
      at: 	Geron
      Corporation 
	 	230
      Constitution Drive 
	  	Menlo
      Park, California 94025 
	  	Attention: Chief Financial Officer 
	  	Telephone:     	(650)
      473-7700 
	  	Facsimile:
    	(650)
      473-7750 
	  
	  
	To each Investor
      at: 	  	
	  
	  
	  	Telephone:
    	
	  	Facsimile:
    	

	10.	     	BINDING
      EFFECT. This Agreement shall be binding
      upon the heirs, legal representatives and successors of the Company and
      each Investor; provided, however, that no Investor may assign any rights
      or obligations under this Agreement.
	 
	11.		GOVERNING
      LAW. This Agreement shall be governed
      by and construed in accordance with the laws of the State of
      California.

8 

	12.	     	INVALID PROVISIONS.
      In the event that any provision of this
      Agreement is found to be invalid or otherwise unenforceable by a court or
      other tribunal of competent jurisdiction, such invalidity or
      unenforceability shall not be construed as rendering any other provision
      contained herein invalid or unenforceable, and all such other provisions
      shall be given full force and effect to the same extent as though the
      invalid and unenforceable provision was not contained herein.
	 
	13.		COUNTERPARTS.
      This Agreement may be executed in any
      number of identical counterparts, each of which shall be deemed an
      original, but all of which together shall constitute one and the same
      instrument.
	 
	14.		AMENDMENTS. This Agreement or
      any provision hereof may be changed, waived, or terminated only by a
      statement in writing signed by the party against whom such change, waiver
      or termination is sought to be enforced.
	 
	15.		FUTURE
      COOPERATION. Each of the parties hereto
      agrees to cooperate at all times from and after the date hereof with
      respect to all of the matters described herein, and to execute such
      further assignments, releases, assumptions, amendments of the Agreement,
      notifications and other documents as may be reasonably requested for the
      purpose of giving effect to, or evidencing or giving notice of, the
      transactions contemplated by this Agreement.
	 
	16.		ENTIRE
      AGREEMENT. This Agreement, including
      the Warrants and the Lock-Up Agreements attached hereto, constitute the
      entire agreement of the parties pertaining to the Securities and supersede
      all prior and contemporaneous agreements, representations, and
      understandings of the parties with respect
thereto.

(Signature Page
Follows)

9 

     IN
WITNESS WHEREOF, the parties hereto have executed this Common Stock and Warrant
Purchase Agreement as of the date first above written. 

		
      Geron
      Corporation 

		 
		 
		By: 	David L.
      Greenwood 
	 	
      Title:   
      
	Chief Financial
      Officer and Executive Vice President 
		 
		 
		 
		Investors: 
			 
			 
		 	  
		By: 	
		Title: 	
		Address:
    
		 
		 
		 
		 
    
		By: 	
		Title: 	
		Address: 

10 

Exhibit A 

Schedule of Investors 

						 	Warrant 
	Name 	 	Address 		Shares 	 	Shares 
	  					
	  	 	 	 	 	 
	TOTAL:  		 	550,000 	 	150,000 

11 

Exhibit B 

Form of Warrant 

See Exhibit 4.2. 

12 

Exhibit C 

Form of Lock-Up Agreement

See Exhibit 4.3. 

13

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