Document:

exv4w2

 

Exhibit 4.2

THE SECURITIES REPRESENTED BY THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION
WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT AN
EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO
THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

	 	 	 
	Warrant No.: CS-2008-1

	 	Number of Shares: 125,000
	Date of Issuance: March 1, 2008
	 	 

VIA PHARMACEUTICALS, INC.

WARRANT

     FOR VALUE RECEIVED, VIA Pharmaceuticals, Inc., a Delaware corporation (the “Company”),
hereby certifies that Redington, Inc., a Connecticut corporation and its permitted assigns (the
“Registered Holder”), is entitled, subject to the terms and vesting schedule set forth
below, to purchase from the Company, at any time after the date hereof and on or before the
Expiration Date (as defined in Section 5 below), up to 125,000 shares of common stock, par
value $0.001 per share, of the Company (“Common Stock”), at a purchase price of $3.00 per
share. The shares purchasable upon exercise of this Warrant and the purchase price per share, as
adjusted from time to time pursuant to the provisions of this Warrant, are hereinafter referred to
as the “Warrant Stock” and the “Purchase Price,” respectively.

     1. Exercise.

          (a) Manner of Exercise. This Warrant shall vest in accordance with the following
vesting schedule until the Expiration Date: (i) 25,000 shares of Warrant Stock shall be
immediately vested as of the date of issuance of this Warrant, (ii) 50,000 shares of Warrant Stock
shall vest immediately upon attaining a Share Price Goal of $5.00, (iii) 25,000 shares of Warrant
Stock shall vest immediately upon attaining a Share Price Goal of $7.50, and (iv) 25,000 shares of
Warrant Stock shall vest immediately upon attaining a Share Price Goal of $10.00. For purposes of
this Section 1(a), “Share Price Goal” shall mean the average closing price of the
Company’s Common Stock as reported on The NASDAQ Stock Market staying at or above the applicable
amount on ten of any 30 consecutive trading days during the Vesting Period. The “Vesting
Period” shall mean the period of time between (and including) March 1, 2008 and February 28,
2009; provided that if the Engagement Agreement, dated March 1, 2008 between the Company
and the Registered Holder (the “Engagement Agreement”) is terminated prior to August 31,
2008, then the Vesting Period shall mean the period of time between (and including) March 1, 2008 and the
date that is 90 days following the date of such termination. For the
avoidance of doubt, to the extent the goals set forth in clauses (ii) through (iv) above are not
met

 

 

prior to the expiration of the Vesting Period, all unvested shares of Warrant Stock shall be
deemed cancelled. Subject to the terms of this section, this Warrant may be exercised by the
Registered Holder, in whole or in part, by surrendering this Warrant, with the purchase form
attached hereto as Exhibit A duly executed by such Registered Holder at the principal
office of the Company, or at such other office or agency as the Company may designate, accompanied
by payment in full of the Purchase Price payable in respect of the number of shares of Warrant
Stock purchased upon such exercise. The Purchase Price may be paid by cash, check, wire transfer
or by net issue exercise pursuant to Section 1(c) below.

          (b) Effective Time of Exercise. Each exercise of this Warrant shall be deemed to have
been effected immediately prior to the close of business on the day on which this Warrant shall
have been surrendered to the Company as provided in Section 1(a) above. At such time, the
person or persons in whose name or names any certificates for Warrant Stock shall be issuable upon
such exercise as provided in Section 1(d) below shall be deemed to have become the holder
or holders of record of the Warrant Stock represented by such certificates.

          (c) Net Issue Exercise. 

               (i) In lieu of exercising this Warrant in the manner provided above in Section 1(a),
the Registered Holder may elect to receive shares equal to the value of this Warrant (or the
portion thereof being canceled) by surrender of this Warrant at the principal office of the Company
together with notice of such election in which event the Company shall issue to such Registered
Holder a number of shares of Warrant Stock computed using the following formula:

	 	 	 	 	 
	 	 	 	 	               X = Y (A – B)
	 	 	 	 	                             A
	 	 	 	 	 
	Where

	 	X =
	 	The number of shares of Warrant Stock to be issued to the Registered Holder.
	 	 	 	 	 
	 

	 	Y =
	 	The number of shares of Warrant Stock purchasable under this Warrant (at the date of such calculation).
	 	 	 	 	 
	 

	 	A =
	 	The fair market value of one share of Warrant Stock (at the date of such calculation).
	 	 	 	 	 
	 

	 	B =
	 	The Purchase Price (as adjusted to the date of such calculation).

               (ii) For purposes of this Section 1(c), the “fair market value” of Warrant
Stock on the date of calculation shall mean with respect to each share of Warrant Stock:

                    (A) if the Company’s Common Stock continues to be traded on a securities exchange or The
NASDAQ Stock Market, the fair market value shall be deemed to be the average of the closing prices
over a 30-day period ending three days before date of calculation; or

                    (B) if the Company’s Common Stock is actively traded over-the-counter, including on the Pink
Sheets, the fair market value shall be deemed to be the

ii

 

average of the closing bid or sales price
(whichever is applicable) over the 30-day period ending three days before the date of calculation;
or

                    (C) if neither (A) nor (B) is applicable, the fair market value of Warrant Stock shall be at
the highest price per share which the Company could obtain on the date of calculation from a
willing buyer (other than from a current employee or director) for shares of Warrant Stock sold by
the Company, from authorized but unissued shares, as determined in good faith by the Board of
Directors, unless the Company is at such time subject to an acquisition as described in Section
5 below, in which case the fair market value of Warrant Stock shall be deemed to be the value
received by the holders of Common Stock pursuant to such acquisition.

          (d) Delivery to Registered Holder. As soon as practicable after the exercise of this
Warrant in whole or in part, and in any event within ten days thereafter, the Company at its
expense shall cause to be issued in the name of, and delivered to, the Registered Holder, or as
such Registered Holder (upon payment by such Registered Holder of any applicable transfer taxes)
may direct:

               (i) a certificate or certificates for the number of shares of Warrant Stock to which such
Registered Holder shall be entitled, and

               (ii) in case such exercise is in part only, a new warrant or warrants (dated as of the date
hereof) of like tenor, calling in the aggregate on the face or faces thereof for the number of
shares of Warrant Stock equal (without giving effect to any adjustment therein) to the number of
such shares called for on the face of this Warrant minus the number of such shares purchased by the
Registered Holder upon such exercise as provided in Section 1(a) or 1(c) above.

     2. Adjustments. The Purchase Price and the number of shares purchasable hereunder are
subject to adjustment from time to time as follows:

     (a) Merger, Sale of Assets, etc. If at any time while this Warrant, or any portion
thereof, is outstanding and unexpired there shall be (i) a reorganization (other than a
combination, reclassification, exchange or subdivision of shares otherwise provided for herein),
(ii) a merger or consolidation of the Company with or into another corporation in which the Company
is not the surviving entity, or a reverse triangular merger in which the Company is the surviving
entity but the shares of the Company’s capital stock outstanding immediately prior to the merger
are converted by virtue of the merger into other property, whether in the form of securities, cash,
or otherwise, or (iii) a sale or transfer of the Company’s properties and assets as, or
substantially as, an entirety to any other person, then, as a part of such reorganization, merger, consolidation, sale or
transfer, lawful provision shall be made so that the Registered Holder of this Warrant shall
thereafter be entitled to receive upon exercise of this Warrant, during the period specified herein
and upon payment of the Purchase Price then in effect, the number of shares of stock or other
securities or property of the successor corporation resulting from such reorganization, merger,
consolidation, sale or transfer that a holder of the shares deliverable upon exercise of this
Warrant would have been entitled to receive in such reorganization, consolidation, merger, sale or
transfer if this Warrant had been exercised immediately before

iii

 

such reorganization, merger,
consolidation, sale or transfer, all subject to further adjustment as provided in this Section
2. The foregoing provisions of this Section 2(a) shall similarly apply to successive
reorganizations, consolidations, mergers, sales and transfers and to the stock or securities of any
other corporation that are at the time receivable upon the exercise of this Warrant. If the
per-share consideration payable to the Registered Holder hereof for shares in connection with any
such transaction is in a form other than cash or marketable securities, then the value of such
consideration shall be determined in good faith by the Company’s Board of Directors. In all events,
appropriate adjustment (as determined in good faith by the Company’s Board of Directors) shall be
made in the application of the provisions of this Warrant with respect to the rights and interests
of the Registered Holder after the transaction, to the end that the provisions of this Warrant
shall be applicable after that event, as near as reasonably may be, in relation to any shares or
other property deliverable after that event upon exercise of this Warrant.

     (b) Reclassification, etc. If the Company, at any time while this Warrant, or any
portion hereof, remains outstanding and unexpired by reclassification of securities or otherwise,
shall change any of the securities as to which purchase rights under this Warrant exist into the
same or a different number of securities of any other class or classes, this Warrant shall
thereafter represent the right to acquire such number and kind of securities as would have been
issuable as the result of such change with respect to the securities that were subject to the
purchase rights under this Warrant immediately prior to such reclassification or other change and
the Purchase Price therefor shall be appropriately adjusted, all subject to further adjustment as
provided in this Section 2.

     (c) Split, Subdivision or Combination of Shares. If the Company at any time while
this Warrant, or any portion hereof, remains outstanding and unexpired shall split, subdivide or
combine the securities as to which purchase rights under this Warrant exist, into a different
number of securities of the same class, the Purchase Price for such securities shall be
proportionately decreased in the case of a split or subdivision or proportionately increased in the
case of a combination. Upon each adjustment in the Purchase Price pursuant to this subsection, the
number of shares of such securities purchasable hereunder shall be adjusted, to the nearest whole
share, to the product obtained by multiplying the number of shares purchasable immediately prior to
such adjustment in the Purchase Price by a fraction, the numerator of which shall be the Purchase
Price immediately prior to such adjustment and the denominator of which shall be the Purchase Price
immediately thereafter.

     (d) Adjustments for Dividends in Stock or Other Securities or Property. If while this
Warrant, or any portion hereof, remains outstanding and unexpired the holders of the securities as
to which purchase rights under this Warrant exist at the time shall have received, or, on or after
the record date fixed for the determination of eligible stockholders, shall have become entitled to
receive, without payment therefor, other or additional stock or other securities or property (other
than cash) of the Company by way of dividend (except for distributions specifically provided for in
the foregoing subsection (b) and (c) of this Section 2), then and in each case, this
Warrant shall represent the right to acquire, in addition to the number of shares of the security
receivable upon exercise of this Warrant, and without payment of any additional consideration
therefor, the amount of such other or additional stock or other securities or property (other than
cash) of the Company that such holder would hold on the date of such

iv

 

exercise had it been the
holder of record of the security receivable upon exercise of this Warrant on the date hereof and
had thereafter, during the period from the date hereof to and including the date of such exercise,
retained such shares and/or all other additional stock available by it as aforesaid during such
period, giving effect to all adjustments called for during such period by the provisions of this
Section 2.

     3. Transfers; Lock-up/Standoff Agreement; Investment Representations.

          (a) Unregistered Security. This Warrant and the Warrant Stock have not been
registered under the Securities Act of 1933, as amended (the “Securities Act”), and the
Registered Holder agrees not to sell, pledge, distribute, offer for sale, transfer, assign or
otherwise dispose of this Warrant, any Warrant Stock issued upon its exercise or any Common Stock
issued upon conversion of the Warrant Stock or any interest in any of the foregoing (each, a
“Transfer”) in the absence of (i) an effective registration statement under the Securities
Act as to this Warrant, such Warrant Stock or such Common Stock and registration or qualification
of this Warrant, such Warrant Stock or such Common Stock under any applicable U.S. federal or state
securities law then in effect or (ii) an opinion of counsel, which opinion and counsel shall be
satisfactory to the Company in its sole discretion, that such registration and qualification are
not required.

          (b) Transferability. This Warrant may not be Transferred, in whole or in part, except
in compliance with applicable federal and state securities laws and with the prior written consent
of the Company.

          (c) Warrant Register. The Company shall maintain a register containing the names and
addresses of the Registered Holders of this Warrant. Until any Transfer of this Warrant is entered
in the warrant register, the Company may treat the Registered Holder of this Warrant as the
absolute owner hereof for all purposes; provided, however, that if this Warrant is
properly assigned in blank, the Company may (but shall not be required to) treat the bearer hereof
as the absolute owner hereof for all purposes, notwithstanding any notice to the contrary. Any
Registered Holder may change such Registered Holder’s address as shown on the warrant register by
written notice to the Company requesting such change.

          (d) Lock-Up/Market Standoff Agreement. Each holder of this Warrant agrees that upon
request of the Company or the underwriters managing any underwritten offering of the Company’s
securities, it will (a) not sell, make any short sale of, loan, grant any option for the purchase
of, otherwise dispose of, hedge or Transfer any of the economic interest in (or agree or commit to
do any of the foregoing) any of the Warrant Stock (other than those shares of Warrant Stock
included in the registration, if any) without the prior written consent of the Company or such
underwriters, as the case may be, for up to 14 days prior to, and during the 90-day period
following, the effective date of a registration statement of the Company filed under the Securities
Act; and (b) enter into and be bound by such form of agreement with respect to the foregoing as the
Company or such managing underwriter may reasonably request. Notwithstanding anything to the
contrary contained in this Section 3(d), if (i) during the last 17 days of the initial
lock-up period described above, the Company releases earnings results or announces material news or
a material event or (ii) prior to the expiration of the initial lock-up period, the Company
announces that it will release earnings results during the 15-day period

v

 

following the last day of the initial lock-up period, then in each case the lock-up
period described above will be automatically extended until the expiration of the 18-day period
beginning on the date of release of the earnings results or the announcement of the material news
or material event, as applicable, unless the managing underwriters waive, in writing, such
extension.

          (e) Investment Representations. The Registered Holder hereby represents and warrants
to the Company as of the date hereof, and each subsequent holder of this Warrant represents and
warrants to the Company as of the date and by virtue of its acquisition of this Warrant, as
follows:

          (i) Experience. Such holder is experienced in evaluating and investing in
private placement transactions of securities of early-stage companies, and has either
individually or through its current officers such knowledge and experience in financial and
business matters that such holder is capable of evaluating the merits and risks of such
holder’s prospective investment in the Company, and has the ability to bear the economic
risks of the investment.

          (ii) Accredited Investor. Such holder is an “accredited investor” within the
 meaning of Securities and Exchange Commission Rule 501 of Regulation
D, as presently in effect, under the Securities Act.

          (iii) Purchase Entirely for Own Account. Such holder is acquiring this
Warrant (and the Warrant Stock issuable upon exercise of this Warrant) for investment for
such holder’s own account, not as a nominee or agent, and not with the view to, or for
resale in connection with, any distribution thereof. Such holder further represents that
it does not have any contract, undertaking, agreement or arrangement with any person to
Transfer or grant participation to any third person with respect to this Warrant or any of
the Warrant Stock.

          (iv) Restricted Securities. Such holder acknowledges that this Warrant (and
the Warrant Stock issuable upon exercise of this Warrant) must be held indefinitely unless
subsequently registered under the Securities Act or an exemption from such registration is
available. Such holder is aware of the provisions of Rule 144 promulgated under the
Securities Act, which permit limited resale of securities purchased in a private placement
subject to the satisfaction of certain conditions; among the conditions for use of Rule 144
may be the availability of current information to the public about the Company.

          (v) Legends. Such holder acknowledges that, to the extent applicable, each
certificate evidencing any shares of Common Stock or other securities issued upon exercise
of this Warrant shall be endorsed with the legend substantially in the form set forth
below, as well as any additional legend as may be from time to time imposed or required by
the Company’s Bylaws or applicable securities laws:

“THE SHARES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, TRANSFERRED,

vi

 

ASSIGNED, PLEDGED, OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SUCH
ACT, OR UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL OR OTHER
EVIDENCE, SATISFACTORY TO THE COMPANY AND ITS COUNSEL, THAT SUCH
REGISTRATION IS NOT REQUIRED.”

          (vi) Access to Data. Such holder has received and reviewed information about
the Company and has had an opportunity to discuss the Company’s business, management and
financial affairs with its management and to review the Company’s facilities. Such holder
believes it has received all the information it considers necessary or appropriate for
deciding whether to invest in the Company’s securities. Such holder understands and
acknowledges that such discussions, as well as any written information issued by the
Company, (x) were intended to describe the aspects of the Company’s business and prospects
which the Company believes to be material, but were not necessarily an exhaustive
description and (y) may have contained forward-looking statements involving known and
unknown risks and uncertainties which may cause the Company’s actual results in future
periods or plans for future periods to differ materially from what was anticipated and that
no representations or warranties were or are being made with respect to any such
forward-looking statements or the probability of achieving any of the results projected in
any of such forward-looking statements.

     5. Termination. This Warrant (and the right to purchase securities upon exercise
hereof) shall terminate upon the fifth anniversary of the date of issuance of this Warrant (the
“Expiration Date”).

     6. Notices of Certain Transactions. In case:

          (a) the Company shall establish a record date for determining the holders of its Common Stock
(or other stock or securities at the time deliverable upon the exercise of this Warrant) entitled
to receive any dividend or other distribution, or to receive any right to subscribe for or purchase
any shares of stock of any class or any other securities, or to receive any other right to
subscribe for or purchase any shares of stock of any class or any other securities, or to receive
any other right, or

          (b) of any capital reorganization of the Company, any reclassification of the capital stock of
the Company, any consolidation or merger of the Company, any consolidation or merger of the Company
with or into another corporation (other than a consolidation or merger in which the Company is the
surviving entity), or any transfer of all or substantially all of the assets of the Company, or

          (c) of the voluntary or involuntary dissolution, liquidation or winding-up of the Company,

then, and in each such case, the Company shall mail or cause to be mailed to the Registered Holder
of this Warrant a notice specifying, as the case may be, (i) the record date for the purpose of
such dividend, distribution or right, and stating the amount and character of such dividend,
distribution or right or (ii) the effective date on which such reorganization, reclassification,

vii

 

consolidation, merger, transfer, dissolution, liquidation or winding-up is to take place, and the
time, if any is to be fixed, as of which the holders of record of Common Stock (or such other stock
or securities at the time deliverable upon such reorganization, reclassification, consolidation,
merger, transfer, dissolution, liquidation or winding-up) are to be determined.

     7. Reservation of Stock. The Company shall at all times reserve and keep available,
solely for the issuance and delivery upon the exercise of this Warrant, such shares of Common Stock
and other stock, securities and property, as from time to time shall be issuable upon the exercise
of this Warrant.

     8. Exchange of Warrants. Upon the surrender by the Registered Holder of any Warrant
or Warrants, properly endorsed, to the Company at the principal office of the Company, the Company
shall, subject to the provisions of Section 3 hereof, issue and deliver to or upon the
order of such Registered Holder, at the Company’s expense, a new Warrant or Warrants of like tenor,
in the name of such Registered Holder or as such Registered Holder (upon payment by such Registered
Holder of any applicable transfer taxes) may direct, calling in the aggregate on the face or faces
thereof for the number of shares of Common Stock called for on the face or faces of the Warrant or
Warrants so surrendered.

     9. Replacement of Warrants. Upon receipt of evidence reasonably satisfactory to the
Company of the loss, theft, destruction or mutilation of this Warrant and (in the case of loss,
theft or destruction) upon delivery of an indemnity agreement (with surety if reasonably required)
in an amount reasonably satisfactory to the Company, or (in the case of mutilation) upon surrender
and cancellation of this Warrant, the Company shall issue, in lieu thereof, a new Warrant of like
tenor.

     10. Mailing of Notices. Any notice required or permitted pursuant to this Warrant
shall be in writing and shall be deemed sufficient upon receipt, when delivered personally or sent
by courier, overnight delivery service or confirmed facsimile, or 48 hours after being deposited in
the regular mail, as certified or registered mail (airmail if sent internationally), with postage
prepaid, addressed (a) if to the Registered Holder, to the address of the Registered Holder most
recently furnished in writing to the Company and (b) if to the Company, to the address set forth
below or subsequently modified by written notice to the Registered Holder.

     11. No Rights as Stockholder. Until the exercise of this Warrant, the Registered
Holder of this Warrant shall not have or exercise any rights by virtue hereof as a stockholder of
the Company.

     12. No Fractional Shares. No fractional shares of Common Stock shall be issued in
connection with any exercise hereunder. In lieu of any fractional shares which would otherwise be
issuable, the Company shall pay cash equal to the product of such fraction multiplied by the fair
market value of one share of Common Stock on the date of exercise, as determined in accordance with
Section 1(c)(ii).

     13. Amendment or Waiver. Any term of this Warrant may be amended or waived only by an
instrument in writing signed by each of the parties hereto.

viii

 

     14. Headings. The headings in this Warrant are for purposes of reference only and
shall not limit or otherwise affect the meaning of any provision of this Warrant.

     15. Governing Law. This Warrant shall be governed in all respects by the laws of the
State of Delaware without regard to conflict of law principles (whether of the State of Delaware or
otherwise) that would result in the application of any law other than the law of the State of
Delaware.

     16. Aribitration. Except as otherwise provided in this Warrant, any controversy or
dispute arising out of this Agreement, interpretation of any of the provisions hereof shall be
submitted to arbitration in San Francisco, California before the American Arbitration Association
under the commercial arbitration rules then obtaining of said Association. Any award or decision
obtained from any such arbitration proceeding shall be final and binding on the parties, and
judgment upon any award thus obtained may be entered in any court having jurisdiction thereof. No
action at law or in equity based upon any claim arising out of or related to this Warrant shall be
instituted in any court by any holder of this Warrant, except (i) an action to compel arbitration
pursuant to this Section 16 or (ii) an action to enforce an award obtained in an
arbitration proceeding in accordance with this Section 16, in which case, the provisions of
Sections 17 and 18 shall apply. For the avoidance of doubt, the provisions
of Sections 17 and 18 shall be subordinate to and shall only apply in
connection with an action at law or in equity based upon clauses (i) and/or (ii) of the immediately
preceding sentence of this Section 16.

     17. CONSENT TO JURISDICTION. EACH PARTY HERETO HEREBY IRREVOCABLY AGREES THAT ALL
ACTIONS TO ENFORCE AN ARBITRATOR’S DECISION PURSUANT TO SECTION 16 OF THIS AGREEMENT SHALL
BE INSTITUTED AND LITIGATED ONLY IN FEDERAL, STATE OR LOCAL COURTS SITTING IN SAN FRANCISCO,
CALIFORNIA AND EACH OF SUCH PARTIES HEREBY CONSENTS TO THE EXCLUSIVE JURISDICTION AND VENUE OF SUCH
COURT AND WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS.

     18. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY EXPRESSLY WAIVES ANY RIGHT TO A
TRIAL BY JURY IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHT, POWER, OR REMEDY UNDER OR
IN CONNECTION WITH THIS WARRANT OR ANY OF THE RELATED AGREEMENTS OR UNDER OR IN CONNECTION WITH ANY
AMENDMENT, INSTRUMENT, DOCUMENT, OR AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN
CONNECTION HEREWITH OR THEREWITH OR ARISING FROM ANY RELATIONSHIP EXISTING IN CONNECTION WITH THIS
WARRANT OR ANY RELATED AGREEMENT, AND AGREES THAT ANY SUCH ACTION SHALL BE TRIED BEFORE AN
ARBITRATOR AS SET FORTH IN SECTION 16 AND NOT BEFORE A JURY. THE TERMS AND PROVISIONS OF
THIS SECTION CONSTITUTE A MATERIAL INDUCEMENT FOR THE PARTIES ENTERING INTO THIS WARRANT.

     19. Reproduction of Documents. This Warrant and all documents relating hereto,
including, but not limited to, (i) consents, waivers, amendments and modifications which may
hereafter be executed, and (ii) certificates and other information previously or hereafter
furnished, may be reproduced by any photographic, photostatic, microfilm, optical disk, micro-

ix

 

card,
miniature photographic or other similar process. The parties agree that any such reproduction
shall be admissible in evidence as the original itself in any judicial or administrative
proceeding, whether or not the original is in existence and whether or not such reproduction was
made by a party in the regular course of business, and that any enlargement, facsimile or further
reproduction of such reproduction shall likewise be admissible in evidence.

     20. Severability. Whenever possible, each provision of this Warrant will be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Warrant is held to be prohibited by or invalid under applicable law, such provision will be
ineffective only to the extent of such prohibition or invalidity, without invalidating the
remainder of this Warrant.

     21. Entire Agreement. This Warrant, together with the Engagement Agreement
constitutes the complete and final agreement of the parties concerning the matters referred to
herein, and supersedes all prior agreements and understandings. In the event of any conflict or
inconsistency between the terms of this Warrant and the terms of the Engagement Agreement, the
terms of this Warrant shall control.

     22. Execution in Counterparts. This Warrant may be executed in any number of
counterparts, any of which may be executed and delivered via facsimile or portable document format
(PDF), each of which when so executed and delivered shall be deemed an original, and all such
counterparts together shall constitute one instrument.

(Signature page follows)

x

 

     IN WITNESS WHEREOF, the parties have executed this Warrant effective as of the date first
written above.

	 	 	 	 	 
	 	VIA PHARMACEUTICALS, INC.

 	 
	 	By:  	/s/
Lawrence K. Cohen	 
	 	 	Lawrence K. Cohen 	 
	 	 	President and Chief Executive Officer 	 
	 
	 	Address:

750 Battery Street, Suite 330

San Francisco, CA 94111

 	 
	 	 	 
	 	 	 
	 	 	 
	 

Accepted and Agreed:

REDINGTON, INC.

	 	 	 	 	 
	By:  	/s/
Thomas Redington	 
	Name:
	Thomas
Redington	 
	Address: 
	Westport,
CT 06880 	 

xi

 

EXHIBIT A

PURCHASE FORM

	 	 	 
	To: VIA Pharmaceuticals, Inc.

	 	Dated:__________

     The undersigned, pursuant to the provisions set forth in the attached Warrant No. CS-2008-1
hereby irrevocably elects to purchase                shares of the Common Stock covered by such Warrant
and herewith makes payment of
$               ,
or [surrenders                 shares of Warrant Stock
issuable upon exercise of this Warrant] representing the full purchase price for such shares at the
price per share provided for in such Warrant.

	 	 	 	 	 	 	 	 	 
	 
	 	Signature: 	 	 
	 
	 
	 	Name (print):	 	 
	 
	 

	 	Title (if applic.) 	 	 
	 
	 

	 	Company (if
applic.):exv10w15

 

Exhibit 10.15

750 Battery Street, Suite 330

San Francisco, California 94111

office   415.283-2200

fax   415.283-2201

www.viapharmaceuticals.com

December 18, 2007

CONFIDENTIAL

Dr. Rebecca Taub

1218 Valley Road

Villanova, PA 19085

Dear Becky:

VIA Pharmaceuticals, Inc., (“VIA”), is pleased to extend the following offer of employment to you:

	 	Ÿ	 	Start Date: 	  You will commence employment beginning January 14, 2008.
	 
	 	Ÿ	 	Job Title: 	  Sr. Vice President — R&D
	 
	 	Ÿ	 	Base Salary: Your salary is $300,000 per calendar year, payable ratably over the year on
the 15th
and last business day of each month.
	 
	 	Ÿ	 	Incentive Compensation: Your position will have a target bonus of 40% under VIA’s 2008
Bonus Plan. The bonus plan identifies key corporative objectives which must be met for any
payment under the plan, and we will agree on individual objectives for your position within
60 days of your employment. All payments under the 2008 Bonus Plan are at the full
discretion of the Board of Directors (or relevant committee of the Board), and payments
under the plan may be zero.
	 
	 	Ÿ	 	Equity Participation: You will be granted an option to purchase 235,000 shares of common
stock of VIA at an exercise price equal to its fair market value on the date of grant. Such
option will be granted as soon as practicable at the next meeting of VIA’s Board of
Directors Compensation Committee following the start of your employment. Twenty five percent
(25%) of the shares subject to the option (rounded down to the next whole number) shall vest
on the one (1) year anniversary of your employment date, and the remaining shares subject to
the option shall vest pro rata each month thereafter on the same day of the month as your
employment date, such that the shares subject to the option are fully vested at 48 months
following your employment. The options are subject to the terms and conditions of VIA’s 2007
Incentive Award Plan and the related agreements pursuant to which such grants will be made.
Any other grant of options is solely in the discretion of VIA and subject to approval of our
Board of Directors (or relevant committee of the Board).
	 
	 	Ÿ	 	Benefits: During your employment with VIA, you will be eligible for employee benefits
applicable to your position, in effect from time to time, subject to all plan terms and
eligibility. The benefits currently offered to full-time employees include group

 

 

	 	 	 	medical, dental, vision and prescription drug coverage, group life and AD&D insurance, long-term
disability insurance, 401(k) plan, flexible spending account, health club reimbursement, and
paid time off of up to twenty (20) days per year, to be accrued in accordance with VIA’s paid
time off policy.

	 	Ÿ	 	Location: Your primary work location will be VIA’s Princeton, New Jersey office. However,
you will be required to travel on business for VIA from time to time and will regularly
travel to VIA’s company headquarters in San Francisco, California.
	 
	 	Ÿ	 	Severance: In the event that VIA terminates your employment without cause and subject to
your signing an effective release of claims against VIA, VIA will pay you severance equal to
six month’s base salary, and will continue your group health (medical, dental, vision, and
prescription drug) benefits as if you remained an active employee of VIA for a period of six
months. The continuation of group medical benefits will be pursuant to and concurrent with
any legally required continuation coverage period.
	 
	 	 	 	The Company will enter into a separate severance and change in control agreement to address
certain circumstances where a change in control transaction, combined with other factors such as
change in role, responsibility or location, may result in payment of severance and acceleration
of vesting under stock options held at the time of the time of the change in control event.
	 
	 	 	 	You may be terminated for “cause” for any of the following (a) the commission of an act of fraud
or embezzlement against VIA or any affiliate thereof, (b) a breach of one or more of the
following duties to VIA (i) the duty of loyalty, (ii) the duty not to take willful actions which
would reasonably be viewed by VIA as placing your interest in a position adverse to the interest
of VIA, (iii) the duty not to engage in self-dealing with respect to the VIA’s assets, properties
or business opportunities, (iv) the duty of honesty or (v) any other fiduciary duty which you
owes to VIA, (c) a conviction of (or a plea of guilty or nolo contendere in lieu thereof) for (i)
a felony or (ii) a crime involving fraud, dishonesty or moral turpitude, (d) intentional
misconduct as an employee of VIA, including, but not limited to, knowing and intentional
violation by you of written policies of VIA or specific directions of the Board of Directors or
superior officers of VIA, which policies or directives are neither
illegal (or do not involve
illegal conduct) nor require you to violate reasonable business ethical standards, your failure,
after written notice from VIA, to render services in accordance with your employment, which
failure is not cured within ten (10) days of receipt of such notice, whether or not such events
are discovered or known by VIA at the time of your termination. No payment for severance will be
made if you are terminated for “cause”.
	 
	 	Ÿ	 	Non-Solicitation: You agree that VIA has invested substantial time and effort in
assembling its present workforce. Accordingly, you covenant and agree that during the term
of your employment and for a period of twelve (12) months following the termination, for any
reason, of your employment with VIA, you will not, directly or indirectly, entice or
solicit or seek to induce or influence any of VIA’s executives or other key employees to
leave their employment with VIA.

2

 

	 	Ÿ	 	Payments: Unless otherwise specifically provided herein, all payments made to you as
an employee shall be made in accordance with VIA’s normal payroll or reimbursement practices,
and shall be subject to tax withholding to the extent required by applicable law, as well as
any other voluntary withholdings you may elect.
	 
	 	Ÿ	 	Contingencies:

	 	 	 	Our offer is contingent upon the following:

	 	1.	 	Our satisfactory completion of a reference check, including a criminal history and
background check.
	 
	 	2.	 	Your furnishing us with proof of your identity and authorization to work in the United
States.
	 
	 	3.	 	Your execution of a Confidential Information and Invention Assignment Agreement in the
form attached.

	 	 	 	Failure to meet any of these contingencies will make you ineligible for employment.

Although we hope that your employment with us is mutually satisfactory, please note that your
employment at VIA is “at will.” This means that you may resign from VIA at any time with or
without cause, and VIA has the right to terminate this employment relationship with or without
cause at any time. Neither this letter nor any other communication, either written or oral, should
be construed as a contract of employment for any particular duration.

We hope that you accept this offer of employment and look forward to your joining us. Please sign
and date where indicated and return this letter to me to evidence your understanding of these terms
and acceptance of this offer. This offer shall expire at 5:00 p.m. (PT) on December 24, 2007 if we
have not received your written acceptance by then.

Sincerely,

VIA PHARMACEUTICALS, INC.

					
	By: 	 	/s/ Larry Cohen                    
	 	 	Name:	 	Larry Cohen
	 	 	Title:	 	President and Chief Executive Officer

Agreed to and Accepted:

/s/ Rebecca Taub                        

Rebecca Taub

Date:  12/21                     , 2007

3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00139-of-00352.parquet"}]]