Document:

ex10_1.htm

    
      

    

    EXHIBIT
10.1

     

     

    PURCHASE
AGREEMENT

     

    

    This
Purchase Agreement (“Agreement”) is made and entered into as of June 23, 2008,
between ________________ (the “Seller”) and Kirkfield, L.L.C. (the
“Buyer”).

     

    WHEREAS,
the Seller is willing to sell to the Buyer, and the Buyer is willing to purchase
from the Seller, __________________ (_________) shares of Common Stock (the
“Shares”) and a warrant entitling the Seller or its assigns to purchase
________________ (_________) shares (“Warrant” and together with the Shares,
“Securities”) of Halozyme Therapeutics, Inc., a Delaware corporation (the
“Company”), currently held by the Seller.

     

    ACCORDINGLY,
THE PARTIES AGREE AS FOLLOWS:

     

    1.   Sale of
Securities.  The Seller hereby agrees to sell to the Buyer, and
the Buyer hereby agrees to purchase from the Seller, all of the Securities on
the Closing Date.  For purposes of this Agreement, “Closing Date”
shall mean such date as soon as practicable after the date hereof but in no
event later than three (3) business days after the date hereof on which all of
the conditions to transfer of the Securities have been satisfied.

     

    2.   Purchase
Price.  The purchase price for the Shares is
____________________ Dollars ($___________) and for the Warrant is
___________________ Dollars ($_______) resulting in an aggregate purchase price
of __________________________ Dollars ($_______) (the “Purchase Price”) for the
Securities.  The Purchase Price shall be paid from the Buyer to the
Seller on the Closing Date in immediately available funds against delivery by
the Seller to the Buyer of (i) a certificate or certificates representing the
Shares registered in the name of the Buyer or, if not so registered, accompanied
by stock powers in form sufficient to permit transfer of the Shares into the
name of the Buyer on the books of the stock transfer agent of the Company and
(ii) the original Warrant accompanied by a Certificate of Transfer evidencing
the assignment of the Warrant to the Buyer in accordance with the terms of the
Warrant.

     

    3.   Representations and
Warranties of the Seller.  The Seller represents and warrants
to the Buyer as follows:

     

    (a)   Organization of
Seller.   Seller is a corporation duly formed and validly
existing under the laws of ______________.

     

    (b)   Shares.  The
Seller is the lawful owner of the Shares, and the Seller has the full power and
authority to sell the Shares, free and clear of any liens or encumbrances
whatsoever.  All of the Shares have been validly issued and are fully
paid and nonassessable; and no person has any present or future right
(conditional, preemptive or otherwise) to acquire any of the
Shares.  Upon delivery of such Shares and payment therefor pursuant
hereto, good and valid title to all such Shares free and clear of all liens or
encumbrances whatsoever, options, warrants, purchase rights, contracts,
commitments, equities, claims and demands will be transferred to Buyer, and such
Shares shall be validly issued, fully paid and nonassessable.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (c)   Warrants.  The
Seller is the lawful owner of the Warrant, and the Seller has the full power and
authority to sell the Warrant, free and clear of any liens or encumbrances
whatsoever.  The Warrant has been validly issued and upon payment in
full of the Warrant Price (as defined in the Warrant) all of the shares issuable
upon exercise of the Warrant (the “Underlying Shares”) will be validly issued,
fully paid and nonassessable; and no person has any present or future right
(conditional, preemptive or otherwise) to acquire the Warrant or any of the
Underlying Shares.  Upon delivery of such Warrant and payment therefor
pursuant hereto, good and valid title to such Warrant free and clear of all
liens or encumbrances whatsoever, options, warrants, purchase rights, contracts,
commitments, equities, claims and demands will be transferred to
Buyer.

     

    (d)   No Breach or
Conflict.  The sale of the Securities contemplated by this
Agreement does not conflict with, or result in a breach of, or a default under,
or give rise to a right of acceleration under, any agreement or instrument to
which the Seller is a party.

     

    (e)   Enforceability.  Upon
the execution and delivery of this Agreement, this Agreement will be a valid and
binding obligation of Seller, enforceable in accordance with its terms, except
(a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium
or other laws of general application affecting enforcement of creditors’ rights,
(b) general principles of equity that restrict the availability of equitable
remedies, and (c) to the extent that the enforceability of any indemnification
provisions hereof may be limited by applicable laws.

     

    (f)   Consent.  No
consent of any other person, and no notice to, filing or registration with, or
consent, approval or authorization of, any court or governmental authority,
regulatory or self-regulatory agency or any other third party is necessary or is
required to be made or obtained by Seller, in connection with the execution and
delivery of this Agreement or the consummation of the transactions contemplated
hereby, except as may be required under the state securities laws of the
jurisdiction in which the Buyer is resident.

     

    (g)   Litigation.  There
is no litigation, arbitration proceeding, governmental investigation, citation
or action of any kind pending or, to the knowledge of Seller, proposed or
threatened that seeks restraint, prohibition, damages or other relief in
connection with this Agreement or the consummation of the transactions
contemplated hereby or that otherwise might impair the Securities.

     

    (h)   Fees and Expenses of Brokers
and Others.  Seller is not committed to any liability for any
brokers’ or finders’ fees or any similar fees in connection with the
transactions contemplated hereby, and Seller has not retained any broker or
other intermediary to act on its behalf in connection with the transactions
contemplated by this Agreement.

    
      
         

      

      
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    (i)   Consultation with
Advisors.  Seller has consulted with such legal, accounting,
tax and financial advisors as he deems necessary or appropriate concerning the
terms and conditions of the sale of the Securities, including the tax
consequences thereof.

     

    (j)   Truth and Completeness of
Representations and Warranties.  None of the information
contained in the representations and warranties of the Seller set forth in this
Agreement contains any untrue statement of a material fact or omits or will omit
to state a material fact necessary to make the statements contained herein or
therein not misleading.  Seller is not aware of any nonpublic
information concerning the Company that would be material to Buyer’s decision to
purchase the Securities.

     

    4.   Representations and
Warranties of the Buyer.  The Buyer represents and warrants to
the Seller as follows:

     

    (a)   Organization of
Buyer.  Buyer is a limited liability company duly formed and
validly existing under the laws of the Commonwealth of Virginia.

     

    (b)   Investment
Intent.  The Buyer is acquiring the Securities for its own
account for investment, not for the interest of any other person, not for resale
to any other person and not with a view to or in connection with a sale or
distribution, as such term is defined in the Securities Act of 1933, as amended
(the “Securities Act”).

     

    (c)   Knowledge and
Experience.  The Buyer is an “accredited investor” (as such
term is defined in Regulation D under the Securities Act), is knowledgeable and
experienced in businesses of the sort conducted by the Company.

     

    (d)   Investment
Risk.  The Buyer understands that the Buyer may be required to
hold the Securities indefinitely due to the requirements of the Securities
Act.  The Buyer is capable of evaluating the merits and risks involved
in the acquisition of the Securities and is capable of bearing the economic risk
of such investment.

     

    (e)   Resale.  The
Buyer is aware that any resale inconsistent with the Securities Act may create
liability on its part and/or the part of the Seller, and agrees not to assign,
sell, pledge, transfer or otherwise dispose of or transfer any of the Securities
unless in compliance with the Securities Act and applicable state securities
laws.

    
      
         

      

      
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    5.   Closing.  The
parties agree to take all such steps as soon as practicable after the date
hereof necessary to close the purchase of the Securities pursuant to the terms
set forth in this Agreement, including the execution of any additional documents
or agreements and the provision of any necessary instructions to the Company’s
transfer agent.  The parties hereby acknowledge and agree that the
closing hereunder shall be conditioned upon each party’s respective
representations and warranties contained herein being true and correct as of the
Closing Date and undertake the obligation to provide the other party written
notice of any information that may cause such representations and warranties to
be untrue as of the Closing Date.

     

    6.   Indemnification.

     

    (a)   Seller’s
Indemnification.  Seller hereby indemnifies and holds Buyer and
its directors, officers, members and affiliates (collectively, the “ Buyer
Indemnified Parties”) harmless from and against, and agrees to defend promptly
the Buyer Indemnified Parties from and reimburse the Buyer Indemnified Parties
for, any and all losses, liabilities, claims, damages (including incidental and
consequential damages), costs, expenses (including costs of investigation and
defense and reasonable attorneys’ fees) and obligations (hereinafter referred to
collectively as “Losses”) that the Indemnified Parties may at any time suffer or
incur, or become subject to, as a result of or in connection with:  (i) any
material breach or inaccuracy of any of the representations and warranties made
by Seller in this Agreement or any other agreement or instrument delivered by
Seller pursuant to this Agreement; and (ii) any failure of Seller to carry out,
perform, satisfy and discharge any of its covenants, agreements, undertakings,
liabilities or obligations under this Agreement or under any of the agreements
and instruments delivered by Seller pursuant to this Agreement.

     

    (b)   Buyer’s
Indemnification.  Buyer hereby indemnifies and holds Seller
harmless from and against, and agrees to defend promptly the Seller from and
reimburse the Seller for, any and all Losses that Seller may at any time suffer
or incur, or become subject to, as a result of or in connection with: (P)(i) any material breach
or inaccuracy of any of the representations and warranties made by Buyer in this
Agreement or any other agreement or instrument delivered by Buyer pursuant to
this Agreement; and (ii) any failure of Buyer to carry out, perform, satisfy and
discharge any of its covenants, agreements, undertakings, liabilities or
obligations under this Agreement or under any of the agreements and instruments
delivered by Buyer pursuant to this Agreement.

    
      
         

      

      
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    7.   Survival of Representations.
Warranties and Covenants.  All agreements, representations,
warranties and covenants made by the parties in this Agreement shall survive the
closing of the purchase of the Securities hereunder for the full period of the
applicable statute of limitations.

     

    8.   Successors and
Assigns.  This Agreement shall be binding upon and shall inure
to the benefit of the undersigned parties and their respective heirs, personal
representatives, successors and assigns.

     

    9.   Entire Agreement and
Amendments.  This Agreement represents the entire agreement of
the parties with respect to the subject matter hereof, and no other agreement
with respect thereto, including any prior written or oral representation or
understanding of the parties, shall have any further force or
effect.  The Buyer and the Seller each represents and warrants to the
other that, in entering this Agreement, he has relied on no statements,
representations, inducements or promises made by the other party except as are
expressly set forth in this Agreement.  This Agreement may be modified
only by a subsequent writing signed by both parties to this
Agreement.

     

    10.   Notices.  All
notices, consents, offers and other communications by and between Buyer and
Seller under this Agreement will be in writing and will be deemed to have been
received when personally delivered, one business day after the date of
transmittal if sent by reputable overnight courier service or five days after
mailing by certified mail, return receipt requested, to Buyer at 1881 Grove
Avenue, Radford, Virginia 24141, Attention: Tad Fisher, and to Seller at
_________________________________ or to such other address as each may specify
to the other in accordance with the provisions of this Section 10.

     

    11.   Counterparts. This
Agreement may be executed in counterparts, each of which shall be deemed an
original, but all of which shall constitute one and the same
instrument.

     

    12.   Governing
Law.  This Agreement shall be governed by, and construed in
accordance with, the laws of the Commonwealth of Virginia, without reference to
the choice of laws provisions thereof.

     

    

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OF PAGE INTENTIONALLY LEFT BLANK]

    
      
         

      

      
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    IN
WITNESS WHEREOF, the parties have duly executed this Agreement as of the day and
year first above written.

    

    

    
      	 
      	
              THE
      BUYER:

            	 
	 
      	 
      	 
	 
      	
              KIRKFIELD,
      L.L.C.

            	 
	 	 	 
	 
      	
              By:

            	
              THIRD
      SECURITY, LLC

            	 
	 	 	 	 
	 
      	 
      	
              Its:

            	
              Manager

            	 
	 	 	 	 	 
	 	 	 	 	 
	 
      	 
      	
              By:

            	 
      	 
	 
      	 
      	 
      	
              Name:

            	
              Randal
      J. Kirk

            
	 
      	 
      	 
      	
              Title:

            	
              Manager,
      Third Security, LLC

            
	 
      	 
      	 
	 	 	 
	 
      	
              THE
      SELLER:

            	 
	 	 	 
	 
      	 
      	 
	 
      	 
      	 
      	 
      	 
      	 
	 
      	
              By:

            	 
      	 
	 	 	 	 
	 
      	 
      	
              Its:

            	 
      	 
	 	 	 	 	 
	 	 	 	 	 
	 
      	 
      	
              By:

            	 
      	 
	 
      	 
      	 
      	
              Name:

            	 
      	 
	 
      	 
      	 
      	
              Title:

            	 
      	 

    

     

     

     - 6
-ex4_1.htm

    
      
        

      
EXHIBIT 4.1

     

    THE
SECURITIES EVIDENCED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED
UNLESS (i) THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT
COVERING SUCH SECURITIES, (ii) THE SALE IS MADE IN ACCORDANCE WITH RULE 144
UNDER THE ACT, OR (iii) THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE
HOLDER OF THESE SECURITIES REASONABLY SATISFACTORY TO THE COMPANY STATING THAT
SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION
REQUIREMENTS OF SUCH ACT.

     

    Dated:
January 28, 2004

     

    HALOZYME
THERAPEUTICS, INC.

     

    CALLABLE
STOCK PURCHASE WARRANT

     

    136,300
Shares

     

    1.      Number of Shares Subject to
Warrant.  FOR VALUE RECEIVED, subject to the terms and
conditions herein set forth, Kirkfield, L.L.C. (the “Holder”), is entitled to
purchase from Halozyme Therapeutics, Inc., a Nevada corporation (the “Company”), at any time before
the termination of this Warrant pursuant to Section 3 hereof, at a price
per share equal to the Warrant Price (as defined below), the Warrant Stock (as
defined below) upon exercise of this Warrant pursuant to Section 7
hereof.

     

    This
Warrant represents the remaining Warrant Stock exercisable from that certain
Callable Stock Purchase Warrant originally issued by Deliatroph Pharmaceuticals,
Inc. (the Company’s predecessor entity) to Bonanza Master Fund, LTD (“Bonanza”) on or about January
28, 2004 (the “Original
Warrant”).  On June 24, 2008 the Original Warrant was
transferred in whole by Bonanza to the Holder. The Company has previously
exercised its call rights under the Original Warrant on November 9, 2004, and
August 9, 2006, and this Warrant represents all available remaining shares
issuable to the Holder.  The Original Warrant was one of a series of
warrants (the “Original
Warrants”) issued in connection with the January 2004 financing of
Deliatroph Pharmaceuticals, Inc.  The Original Warrants, as well as
all replacement warrants issued in connection with the Company’s call right or
warrant exercises are collectively referred to herein as “Callable
Warrants.”

     

    2.      Definitions.  As
used in this Warrant, the following terms shall have definitions ascribed to
them below:

     

    (a)           “Holder” shall mean Kirkfield,
L.L.C. or its assigns.

     

    (b)           “Warrant Price” shall be $1.75
per share.

     

    (c)           “Warrant Stock” shall mean
136,300 shares of the Common Stock of the Company.

     

    
      
        
           

        

         

      

      
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    3.
     Termination.  This
Warrant shall terminate and no longer be exercisable at 5:00 p.m.,
California time, on January 28, 2009.

     

    4.      Fractional
Shares.  No fractional shares shall be issuable upon exercise
or conversion of the Warrant and the number of shares to be issued shall be
rounded down to the nearest whole share.  If a fractional share
interest arises upon any exercise or conversion of the Warrant, the Company
shall eliminate such fractional share interest by paying the Holder an amount
computed by multiplying the fractional interest by the fair market value of a
full share.

     

    4A.           Callable
Warrant.  This warrant may be redeemed by the Company upon
thirty (30) days advance written notice “Notice of Redemption” to
Holder, for a price of $0.01 per share, provided that (i) a registration
statement with the Securities and Exchange Commission is then in effect as to
the shares of Common Stock underlying the Warrant and will be in effect as of a
date thirty (30) days from the date of giving the Notice of Redemption;
(ii) that for a period of twenty (20) trading days prior to the giving of
the Notice of Redemption the Common Stock has closed at a price of $2.00 per
share or higher; and (iii) that Callable Warrants, covering no more than an
aggregate of 1,913,100 shares of Common Stock underlying the Callable Warrants,
have been or will be called for redemption in the ninety (90) day period
proceeding or following the giving of the Notice of Redemption.

     

    5.      No Shareholder
Rights.  This Warrant, by itself, as distinguished from any
shares purchased hereunder, shall not entitle the Holder to any of the rights of
a shareholder of the Company.

     

    6.      Reservation of
Stock.  The Company will reserve from its authorized and
unissued Common Stock a sufficient number of shares to provide for the issuance
of Warrant Stock upon the exercise of this Warrant.  Issuance of this
Warrant shall constitute full authority to the Company’s officers who are
charged with the duty of executing stock certificates to execute and issue the
necessary certificates for shares of Warrant Stock issuable upon the exercise or
conversion of this Warrant.

     

    7.     
Exercise of
Warrant.  This Warrant may be exercised at any time prior to
its termination and prior to the expiration of the thirty (30) days Notice of
Redemption, in case the warrants have been called pursuant to 4A above, by the
surrender of this Warrant, together with the Notice of Exercise and the
Investment Representation Statement in the forms attached hereto as Attachments 1 and
2, respectively, duly completed and executed at the principal office of
the Company, specifying the portion of the Warrant to be exercised and
accompanied by payment in full of the Warrant Price in cash or by check with
respect to the shares of Warrant Stock being purchased.  This Warrant
shall be deemed to have been exercised immediately prior to the close of
business on the date of its surrender for exercise as provided above, and the
person entitled to receive the shares of Warrant Stock issuable upon exercise
shall be treated for all purposes as Holder of such shares of record as of the
close of business on such date.  As promptly as practicable after such
date, the Company shall issue and deliver to the person or persons entitled to
receive the same a certificate or certificates for the number of full shares of
Warrant Stock issuable upon such exercise.  If the Warrant shall be
exercised for less than the total number of shares of Warrant Stock then
issuable upon exercise, promptly after surrender of the Warrant upon such
exercise, the Company will execute and deliver a new Warrant, dated the date
hereof, evidencing the right of the Holder to the balance of the Warrant Stock
purchasable hereunder upon the same terms and conditions set forth
herein.

     

    
      
        
        

      

      
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    8.      Adjustment of Exercise Price
and Number of Shares.  The number of shares issuable upon
exercise of this Warrant (or any shares of stock or other securities or property
at the time receivable or issuable upon exercise of this Warrant) and the
Warrant Price therefor are subject to adjustment upon the occurrence of the
following events:

     

    (a)           Adjustment for Stock Splits,
Stock Dividends, Recapitalizations, etc.  The Warrant Price and
the number of shares issuable upon exercise of this Warrant shall each be
proportionally adjusted to reflect any stock dividend, stock split, reverse
stock split, combination of shares, reclassification, recapitalization or other
similar event altering the number of outstanding shares of the Company’s capital
stock.

     

    (b)           Adjustment for Other
Dividends and Distributions.  In case the Company shall make or
issue, or shall fix a record date for the determination of eligible holders
entitled to receive, a dividend or other distribution with respect to the shares
payable in securities of the Company then, and in each such case, the Holder, on
exercise of this Warrant at any time after the consummation, effective date or
record date of such event, shall receive, in addition to the Warrant Stock (or
such other stock or securities) issuable on such exercise prior to such date,
the securities of the Company to which such Holder would have been entitled upon
such date if such Holder had exercised this Warrant immediately prior thereto
(all subject to further adjustment as provided in this Warrant).

     

    9.      Adjustment for Capital
Reorganization, Consolidation or Merger.  If any capital
reorganization of the capital stock of the Company, or any consolidation or
merger of the Company with or into another corporation, or the sale of all or
substantially all of the Company’s assets to another corporation shall be
effected in such a way that holders of the Company’s capital stock will be
entitled to receive stock, securities or assets with respect to or in exchange
for the Company’s capital stock, and in each such case the Holder, upon the
exercise of this Warrant, at any time after the consummation of such capital
reorganization, consolidation, merger, or sale, shall be entitled to receive, in
lieu of the stock or other securities and property receivable upon the exercise
of this Warrant prior to such consummation, the stock or other securities or
property to which such Holder would have been entitled upon such consummation if
such Holder had exercised this Warrant immediately prior to the consummation of
such capital reorganization, consolidation, merger, or sale, all subject to
further adjustment as provided in this Section 9; and in each such case, the
terms of this Warrant shall be applicable to the shares of stock or other
securities or property receivable upon the exercise of this Warrant after such
consummation.

     

    10.    “Market Stand-Off”
Agreement.  The Holder agrees in connection with any
underwritten registration of the Company’s securities (other than a registration
of securities in a Rule 415 of the Securities Act of 1933, as amended, (“Securities Act”) transaction
or with respect to an employee benefit plan), upon request of the Company or the
underwriters managing any underwritten offering of the Company’s securities, not
to sell, make any short sale of, loan, pledge (or otherwise encumber or
hypothecate), grant any option for the purchase of, or otherwise directly or
indirectly dispose of any of its shares of Common Stock (other than those
included in the registration) without the prior written consent of the Company
and such managing underwriters for 180 days following the effective date of the
registration statement for such offering under the Securities Act; provided,
however, that such agreement shall not be required unless all officers and
directors of the Company enter into similar agreements, and provided further
that such agreement shall not be required with respect to shares underlying the
warrant if the warrant has been called for redemption under paragraph 4A within
30 days before or 180 days after the filing of the registration statement with
respect to such underwritten offering.

     

    
      
         

      

      
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    11.    Transfer of
Warrant.  This Warrant may be transferred or assigned by the
Holder hereof in whole or in part, provided that the transferor provides, at the
Company’s request, an opinion of counsel satisfactory to the Company that such
transfer does not require registration under the Securities Act and the
securities law applicable with respect to any other applicable
jurisdiction.

     

    12.   
Amendments and
Waivers.  This Warrant and any term hereof may only be amended,
waived, discharged or terminated by a written instrument signed by the Company
and the holders of at least 66 2/3% of the shares issuable upon exercise of the
Callable Warrants then outstanding.

     

    13.    Miscellaneous.  This
Warrant shall be governed by the laws of the State of California, as such laws
are applied to contracts to be entered into and performed entirely in California
by California residents.  The headings in this Warrant are for
purposes of convenience and reference only, and shall not be deemed to
constitute a part hereof.  Neither this Warrant nor any term hereof
may be changed or waived orally, but only by an instrument in writing signed by
the Company and the Holder of this Warrant.  All notices and other
communications from the Company to the Holder of this Warrant shall be
delivered, personally or mailed by first class mail, postage prepaid, to the
address furnished to the Company in writing by the last Holder of this Warrant
who shall have furnished an address to the Company in writing, and if mailed
shall be deemed given three days after deposit in the United States
mail.

     

    

    
      	 	HALOZYME
      THERAPEUTICS, INC.
	 	 
	 	 
	 
      	By:
      /s/ David Ramsey	
               

            
	 
      	
              David
      Ramsay

            
	 
      	
              Chief
      Financial Officer

            

    

    
      
        
           

        

         

      

      
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    Attachment
1

     

    NOTICE
OF EXERCISE

     

    TO:

     

    HALOZYME
THERAPEUTICS, INC.

     

    1.           The
undersigned hereby elects to purchase ________ shares of the Warrant Stock of
Halozyme Therapeutics, Inc. pursuant to the terms of the attached Warrant, and
tenders herewith payment of the purchase price in full, together with all
applicable transfer taxes, if any.

     

    2.           Please
issue a certificate or certificates representing said shares of Warrant Stock in
the name of the undersigned or in such other name as is specified
below:

     

    
      ____________________________________
(Name)

    

    

    ____________________________________

    (Address)

     

     

    
      	 	 	 
	
              (Date)

            	
            	
              (Authorized
      Signature of Warrant Holder)

            

    

                                                                                        

    
      
        
           

        

         

      

      
         

        
          

        

      

      
         

      

    

    Attachment
2

     

    INVESTMENT
REPRESENTATION STATEMENT

     

    Shares
of Warrant Stock (as defined in the attached Warrant) of

    HALOZYME
THERAPEUTICS, INC.

     

    In connection with the purchase of the
above-listed securities, the undersigned hereby represents to Halozyme
Therapeutics, Inc. (the “Company”) as
follows:

     

    (a)           The
securities to be received upon the exercise of the Warrant (the “Warrant Stock”) will be
acquired for investment for its own account; not as a nominee or agent, and not
with a view to the sale or distribution of any part thereof, and the undersigned
has no present intention of selling, granting participation in or otherwise
distributing the same, but subject, nevertheless, to any requirement of law that
the disposition of its property shall at all times be within its
control.  By executing this Statement, the undersigned further
represents that it does not have any contract, undertaking, agreement or
arrangement with any person to sell, transfer, or grant participation to such
person or to any third person, with respect to any Warrant Stock issuable upon
exercise of the Warrant.

     

    (b)           The
undersigned understands that the Warrant Stock issuable upon exercise of the
Warrant at the time of issuance may not be registered under the Securities Act,
and applicable state securities laws, on the ground that the issuance of such
securities is exempt pursuant to Section 4(2) of the Securities Act and
state law exemptions relating to offers and sales not by means of a public
offering, and that the Company’s reliance on such exemptions is predicated on
the undersigned’s representations set forth herein.  If the Warrant
Stock is registered under the Securities Act at the time of exercise, the
undersigned represents that it will sell the Warrant Stock in accordance with
the terms of such registration statement or in accordance with some other
applicable exemption from registration.

     

    (c)           The
undersigned acknowledges that an investment in the Company is highly speculative
and represents that it is able to fend for itself in transactions of this type,
has such knowledge and experience in financial and business matters as to be
capable of evaluating the merits and risks of its investments, and has the
ability to bear the economic risks (including the risk of a total loss) of its
investment.

     

    (d)           The
undersigned acknowledges that the Warrant Stock issuable upon exercise of the
Warrant must be held indefinitely unless registered under the Securities Act or
an exemption from such registration is available.  The undersigned is
aware of the provisions of Rule 144 promulgated under the Securities Act
which permit limited resale of shares purchased in a private placement subject
to the satisfaction of certain conditions, including, among other things, the
availability of certain current public information about the Company, certain
holding periods for the security to be sold, certain manner of sale restrictions
and certain volume of sale restrictions.

     

    

    
      	 	 	 
	
              (Date)

            	
            	
              (Authorized
      Signature of Warrant Holder)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00144-of-00352.parquet"}]]