Document:

LUV-12.31.2014-Ex 10.1(b)

	
	
	Supplemental Agreement No. 90

	 

	to

	 

	Purchase Agreement No. 1810

	 

	between

	 

	THE BOEING COMPANY

	 

	and

	 

	SOUTHWEST AIRLINES CO.

	 

	Relating to Boeing Model 737-7H4 and 737-8H4 Aircraft

THIS SUPPLEMENTAL AGREEMENT is entered into as of December 5, 2014, by and between THE BOEING COMPANY, a Delaware corporation with principal offices in Seattle, Washington, (Boeing) and SOUTHWEST AIRLINES CO., a Texas corporation with principal offices in Dallas, Texas (Buyer).

Buyer and Boeing entered into Purchase Agreement No. 1810 dated January 19, 1994, as amended and supplemented (Purchase Agreement), relating to the purchase and sale of Boeing Model 737-7H4 aircraft and 737-8H4 aircraft; and this Supplemental Agreement is an amendment to and is incorporated into the Purchase Agreement.  Capitalized terms used herein but not otherwise defined shall have the meaning set forth in the Purchase Agreement.

WHEREAS, Boeing and Buyer agree to amend the Purchase Agreement by revising the scheduled delivery month of two (2) Option Aircraft from January 2016 to July 2016 and August 2016 (collectively, Option Positions), and

WHEREAS, Boeing and Buyer agree to amend the Purchase Agreement by revising certain letter agreements set forth below to make administrative corrections;

NOW THEREFORE, in consideration of the mutual covenants herein contained, the parties agree to amend the Purchase Agreement as follows.

1.The Table of Contents of the Purchase Agreement is deleted in its entirety and a new Table of Contents is attached hereto and incorporated into the Purchase Agreement by this reference.
	
	
	[Remainder of page intentionally left blank.]

***Pursuant to 17 CFR 240.24b-2, confidential information has been omitted and has been filed separately with the Securities and Exchange Commission pursuant to a Confidential Treatment Application filed with the Commission.

	
		
	P.A. No. 1810
	SA-90-1

		
	2.
	Letter Agreement number SWA-PA-1810-LA-1105884 titled “Option Aircraft” is deleted in its entirety and a new Letter Agreement number SWA-PA-1810-LA-1105884R1 is attached hereto and incorporated into the Purchase Agreement by this reference.  The new Letter Agreement:

	
	
	i)    reflects revised delivery months of July 2016 and August 2016 for the Option Positions in a new Attachment B (identified in the footer by “SA-90”); and

	ii)    corrects the Article 6 reference to paragraph 3.2 to be a reference to paragraph 4.2.

3.Letter Agreement number SWA-PA-1810-LA-1105885R2 titled *** is deleted in its entirety and a new Letter Agreement number SWA-PA-1810-LA-1105885R3 is attached hereto and incorporated into the Purchase Agreement by this reference.  The new Letter Agreement corrects the:
	
	
	i)    Article 2 reference regarding paragraphs 1.1 and 1.9 to be a reference to paragraphs 1.1 through 1.9; and

	ii)    formatting of provisions related to the *** which is now Article 3.

		
	4.
	Letter Agreement number SWA-PA-1810-LA-1003490R2 titled *** is deleted in its entirety and a new Letter Agreement number SWA-PA-1810-LA-1003490R3 is attached hereto and incorporated into the Purchase Agreement by this reference.  The new Letter Agreement corrects the Article 2 reference regarding paragraphs 1.1 and 1.8 to be a reference to paragraphs 1.1 through 1.8.

The Purchase Agreement will be deemed to be supplemented to the extent herein provided and as so supplemented will continue in full force and effect.

EXECUTED IN DUPLICATE as of the day and year first above written.

	
		
	THE BOEING COMPANY
	SOUTHWEST AIRLINES CO.

	 

	 

	 

	By:    /s/ Jon W. Lewis   
	By: /s/ Chris Monroe   

	             Jon W. Lewis     
	              Chris Monroe 

	(Printed Name)
	(Printed Name)

	Its:    Attorney-In-Fact    
	Its:     VP, Treasurer     

	
		
	P.A. No. 1810
	SA-90-2

	
		
	TABLE OF CONTENTS

	Page
	SA

	Number
	Number

ARTICLES

	
				
	1.
	Subject Matter of Sale.................................
	1-1
	SA-82

	 
	 
	 
	 

	2.
	Delivery, Title and Risk
	 
	 

	 
	of Loss...................................................
	2-1
	SA-28

	 
	 
	 
	 

	3.
	Price of Aircraft........................................
	3‐1
	SA-82

	 
	 
	 
	 

	4.
	Taxes....................................................
	4-1
	 

	 
	 
	 
	 

	5.
	Payment................................................
	5‐1
	 

	 
	 
	 
	 

	6.
	Excusable Delay.......................................
	6‐1
	 

	 
	 
	 
	 

	7.
	Changes to the Detail
	 
	 

	 
	Specification...........................................
	7-1
	SA-73

	 
	 
	 
	 

	8.
	Federal Aviation Requirements and
	 
	 

	 
	Certificates and Export License.....................
	8-1
	 

	 
	 
	 
	 

	9.
	Representatives, Inspection,
	 
	 

	 
	Flights and Test Data.................................
	9-1
	 

	 
	 
	 
	 

	10.
	Assignment, Resale or Lease........................
	10‐1
	 

	 
	 
	 
	 

	11.
	Termination for Certain Events.....................
	11‐1
	 

	 
	 
	 
	 

	12.
	Product Assurance; Disclaimer and
	 
	 

	 
	Release; Exclusion of Liabilities;
	 
	 

	 
	Customer Support; Indemnification
	 
	 

	 
	and Insurance..........................................
	12-1
	 

	 
	 
	 
	 

	13.
	Buyer Furnished Equipment and
	 
	 

	 
	Spare Parts.............................................
	13-1
	 

	 
	 
	 
	 

	14.
	Contractual Notices and Requests..................
	14‐1
	 

	 
	 
	 
	 

	15.
	Miscellaneous..........................................
	15‐1
	 

	
			
	P.A. No. 1810
	i
	 

	K/SWA   
	 
	SA-90

	
		
	TABLE OF CONTENTS

	 
	SA

	 
	Number

	
					
	TABLE

	 

	1a
	Aircraft Information Table – Block 700LUV Aircraft
	SA-85

	 
	 
	 

	1b
	Aircraft Information Table – Block 800LUV Aircraft
	SA-82

	 
	 
	 

	1c
	Aircraft Information Table – Block 800LUV Aircraft
	SA-89

	 
	 
	(non-ETOPS Configuration)
	 

	 

	EXHIBITS

	 

	A-5
	Aircraft Configuration – Block 700LUV Aircraft
	SA-75

	 
	 
	 

	A-6
	Aircraft Configuration – Block 800LUV Aircraft
	SA-75

	 
	 
	 

	A-7
	Aircraft Configuration – Block 800LUV Aircraft
	SA-84

	 
	 
	(non-ETOPS Configuration)
	 

	 
	 
	 

	B
	***
	SA-75

	 
	 
	 

	C
	Customer Support Document
	 

	 
	 
	 

	C-2
	737-800 Customer Support Document
	SA-75

	 
	 
	 

	D-2
	Economic Price Adjustment
	SA-75

	 
	ECI-MFG/CPI (July 2011 Base Price)
	 

	 
	 
	 

	E
	Buyer Furnished Equipment
	SA-75

	 
	Provisions Document
	 

	 
	Attachment A – 737-7H4 Aircraft (through 2012)
	 

	 
	Attachment B – 737-8H4 Aircraft (2012-2018)
	SA-87

	 
	 
	 

	F
	Defined Terms Document
	 

	 

LETTER AGREEMENTS

	
			
	1810-1R1
	Waiver of Aircraft Demonstration Flight
	SA-75

	
			
	P.A. No. 1810
	ii
	 

	K/SWA   
	 
	SA-90

	
		
	TABLE OF CONTENTS

	 
	SA

	 
	Number

	
						
	RESTRICTED LETTER AGREEMENTS

	 

	6‐1162‐RLL‐932R3
	***
	SA-75

	 
	 
	 

	6‐1162‐RLL‐934R5
	Disclosure of Confidential Information
	SA-75

	 
	 
	 

	6‐1162‐RLL‐941R3
	Other Matters
	SA-75

	 
	 
	 

	6-1162-KJJ-055R1
	Structural Matters
	SA-25

	 
	 
	 

	6-1162-KJJ-056
	Noise and Emission Matters
	SA-13

	 
	 
	 

	6-1162-KJJ-057
	Product Development Matters
	SA-13

	 

	SWA-PA-1810-LA-1001315R3
	***
	 
	SA-85

	 
	Attachment A
	 
	SA-89

	 
	 
	 
	 

	SWA-PA-1810-LA-1003498R1
	***
	 
	SA-75

	 
	 
	 
	 

	SWA-PA-1810-LA-1003490R3
	***
	 
	SA-90

	 
	 
	 
	 

	SWA-PA-1810-LA-1003367R1
	***
	 
	SA-75

	 
	 
	 
	 

	SWA-PA-1810-LA-1105883
	Aircraft Model Substitution
	 
	SA-75

	 

	SWA-PA-1810-LA-1105884R1
	Option Aircraft
	 
	 
	 
	SA-90

	 
	Attachment A – Model 737-7H4 Aircraft
	 
	 
	 
	SA-90

	 
	Attachment B – Option Aircraft Information Table
	 
	 
	 
	SA-90

	
			
	SWA-PA-1810-LA-1105885R3
	***
	SA-90

	
			
	SWA-PA-1810-LA-1105886R1
	***
	SA-82

	 
	 
	 

	 
	 
	 

	SWA-PA-1810-LA-1105887
	***
	SA-75

	 
	 
	 

	 
	 
	 

	SWA-PA-1810-LA-1105888R4
	***
	SA-85

	 
	 
	 

	SWA-PA-1810-LA-1105889
	***
	SA-75

	
			
	SWA-PA-01810/03729-LA-1301169
	***
	SA-83

	
			
	SWA-PA-1810-LA-1303010
	***
	SA-85

	
			
	P.A. No. 1810
	iii
	 

	K/SWA   
	 
	SA-90

	
	
	TABLE OF CONTENTS

	
		
	ADDITIONAL LETTERS (FOR REFERENCE) – INACTIVE (as of SA-82)

	6-1162-MSA-288
	Business Offer – Enhanced Ground Proximity

	 
	Warning System (EGPWS) – Activiation – Peaks

	 
	and Obstacles Feature

	 
	(Not applicable to Block 700LUV & Block 800LUV Aircraft)

	 

	6-1162-JMG-501R2
	Business Offer – ACARS package

	 
	(Not applicable to Block 700LUV & Block 800LUV Aircraft)

INACTIVE / DELETED TABLES, EXHIBITS, AND LETTER AGREEMENTS

TABLE

	
				
	Table
	Title
	Last Updated under SA
	Current Status

	1
	Aircraft Information Table
	SA-75
	Inactive

	2
	Option Aircraft Information Table
	SA-74
	Deleted under SA-75

EXHIBITS

	
				
	Exhibits
	Title
	Last Updated under SA
	Current Status

	A
	Aircraft Configuration – 737-700
	SA-36
	Inactive

	A-Winglet
	Aircraft Configuration
	SA-36
	Inactive

	A-1-Winglet
	Aircraft Configuration
	SA-36
	Inactive

	A-1A
	Aircraft Configuration - 737-700 Block T-W-2c
	SA-36
	Inactive

	A-2
	Aircraft Configuration - 737-700 Block T-W-2 / T-W-2a
	SA-47
	Inactive

	A-3
	Aircraft Configuration - 737-700 Block T-W-2 / T-W-2a
	SA-61
	Inactive

	A-4
	Aircraft Configuration - 737-700 Block T-W-2b Aircraft
	SA-66
	Inactive

	C.2
	737-800 Customer Support Variables
	SA-71
	Deleted under SA-75

	D
	Price Adjustment Due to 
Economic Fluctuations – Aircraft Price Adjustment
(July 1992 Base Price)
	 
	Inactive

	D-1
	Price Adjustment Due to Economic Fluctuations – Aircraft Price Adjustment
(July 1999 Base Price)
	SA-13
	Inactive

	E.2
	737-800 Buyer Furnished Equipment Provisions Document
	SA-73
	Deleted under SA-75

	
			
	P.A. No. 1810
	iv
	 

	K/SWA   
	 
	SA-90

	
	
	TABLE OF CONTENTS

RESTRICTED LETTER AGREEMENTS 

	
				
	Letter Agreement
	Title
	Last Updated under SA
	Current Status

	6‐1162‐RLL‐933R21
	Option Aircraft
	SA-60
	Deleted under SA-75

	6‐1162‐RLL‐935R1
	Performance Guarantees
	SA-1
	Inactive

	6‐1162‐RLL‐936R4
	Certain Contractual Matters
	SA-4
	Inactive

	6‐1162‐RLL‐937
	Alternate Advance Payment Schedule
	 
	Inactive

	6‐1162‐RLL‐938
	***
	 
	Inactive

	6‐1162‐RLL‐939R1
	Certification Flight Test Aircraft
	SA-1
	Inactive

	6‐1162‐RLL‐940R1
	Training Matters
	SA-1
	Inactive

	6‐1162‐RLL‐942
	Open Configuration Matters
	 
	Inactive

	6‐1162‐RLL‐943R1
	Substitution Rights
	SA-6
	Deleted under SA 75

	6‐1162‐RLL‐944
	***

	 
	Inactive

	6-1162-RLL-945
	Comparison of 737-7H4 and 737-3H4 Block Fuel Burn
	 
	Inactive

	6-1162-RLL-1855R3
	Additional Contractual Matters
	SA-4
	Inactive

	6-1162-RLL-1856
	***
	SA-1
	Inactive

	6-1162-RLL-1857
	Service Ready Validation Program Field Test
	SA-1
	Inactive

	6-1162-RLL-1858R1
	Escalation Matters
	SA-4
	Inactive

	6-1162-RLL-2036
	Amortization of Costs for Customer Unique Changes
	SA-1
	Inactive

	6-1162-RLL-2037
	Reconciliation of the Aircraft Basic Price
	SA-1
	Inactive

	6-1162-RLL-2073
	Maintenance Training Matters
	SA-1
	Inactive

	6-1162-KJJ-058R1
	Additional Substitution Rights
	SA-71
	Deleted under SA-75

	6-1162-KJJ-150
	Flight Control Computer & Mode Control Panel Spares Matter
	SA-14
	Inactive

	6-1162-MSA-185R3
	Delivery Change Contractual Matters
	SA-21
	Inactive

	6-1162-JMG-747R1
	***
	SA-36
	Inactive

	6-1162-CHL-217
	Rescheduled Flight Test Aircraft
	SA-32
	Inactive

	6-1162-NIW-606R1
	***

	SA-36
	Inactive

	 
	 
	 
	 

	 
	 
	 
	 

	
			
	P.A. No. 1810
	v
	 

	K/SWA   
	 
	SA-90

	
	
	TABLE OF CONTENTS

	
				
	Letter Agreement
	Title
	Last Updated under SA
	Current Status

	6-1162-NIW-640
	Early Delivery of Two April 2004  Aircraft
	SA-35
	Inactive

	6-1162-NIW-889
	Warranty - Exterior Color Schemes and Markings for YA143 and on
	SA-39
	Inactive

	6-1162-NIW-1142
	***

	SA-43
	Inactive

	6-1162-NIW-1369
	*** 

	SA-46
	Inactive

	6-1162-NIW-1983
	***
	SA-62
	Inactive

	SWA-PA-1810-LA-1000419
	***

	SA-64
	Inactive

	6-1162-NIW-890R1
	***

	SA-75

SA-39
	Inactive

	6-1162-KJJ-054R2
	Business Matters
	SA-75
	Inactive

	6-1162-JMG-669R9
	***

	SA-75

SA-75
SA-54
	Inactive

	SWA-PA-1810-LA-02710R1
	***

	SA-72
	Inactive

	
			
	P.A. No. 1810
	vi
	 

	K/SWA   
	 
	SA-90

	
			
	
	 
	The Boeing Company XI

	 
	P. O. Box 3707   xxxxx

	 
	Seattle, WA  98124-2207

	 
	                                                                                                                                                                      

SWA-PA-1810-LA-1105884R1

Southwest Airlines Co.
2702 Love Field Drive
P.O. Box 36611
Dallas, Texas 75235

		
	Subject:
	Option Aircraft

This Letter Agreement amends Purchase Agreement No. 1810 dated as of January 19, 1994 (the Agreement) between The Boeing Company (Boeing) and Southwest Airlines Co. (Buyer) relating to Model 737‐7H4 aircraft (Aircraft).

All terms used and not defined herein will have the same meaning as in the Agreement.

In consideration of the purchase by Buyer of the Aircraft, Boeing hereby agrees to manufacture and sell to Buyer and Buyer shall have the option to purchase (Option or Options) the additional Model 737‐7H4 aircraft as described in paragraph 1 of Attachment A hereto and listed in Attachment B hereto (Option Aircraft). 

1.    Delivery of Option Aircraft.

The Option Aircraft will be delivered to Buyer during or before the months set forth in Attachment B to this Letter Agreement.

2.    Price.

2.1    The advance payment base prices of the Option Aircraft are set forth in Attachment B to this Agreement.  The Option Aircraft pricing elements and associated pricing terms and conditions are given in Attachment A to this Letter Agreement.

2.2    The Advance Payment Base Prices of the Option Aircraft identified in Attachment B to this Letter Agreement do include an amount for special features in addition to those specifically described in Attachment A but do not include any amount for items of Buyer Furnished Equipment (BFE).  An estimate for typical special features is *** per Option Aircraft (expressed in 2011 STE dollars).  Attachment B to this Letter Agreement lists the Advance Payment Base Price per Option Aircraft.
    
2.3    The Option Aircraft purchase price will be the applicable basic price thereof at the time of Option Aircraft delivery adjusted in accordance with Boeing's Aircraft escalation provisions contained in the definitive agreement to purchase the Option Aircraft.  The purchase price will include the price for Seller Purchased Equipment (SPE) if Buyer has elected to change Buyer Furnished Equipment (BFE) to SPE.

	
	
	Page 1

	SA-90

	BOEING PROPRIETARY

	
			
	
	 
	 

3.    Option Aircraft Payment.

3.1    In consideration of the granting of the Options as set forth herein, on the date of execution of this Letter Agreement, Buyer will pay a deposit to Boeing of *** for each Option Aircraft (Deposit).  In the event Buyer exercises its Options herein, the amount of the Deposit will be credited against the first advance payment due for such Option Aircraft pursuant to the advance payment schedule set forth in the definitive agreement for such Option Aircraft.  In the event that Buyer does not exercise its Options to purchase the Option Aircraft pursuant to the terms and conditions set forth herein, Boeing will be entitled to retain the Deposits for the Option Aircraft except as provided in paragraph 4 herein.

3.2    Unless otherwise agreed by the parties, advance payments in the amount of *** of the advance payment base price will be payable on the Option Aircraft in accordance with Attachment B of this Letter Agreement.  The remainder of the Option Aircraft purchase price is due at the time of delivery of the Option Aircraft.

4.    Option Exercise.

4.1    To exercise its Option, Buyer will give written or telegraphic notice thereof to Boeing on or before eighteen (18) months prior to the first day of the delivery month of each Option Aircraft.

4.2    It is understood and agreed that Boeing may accelerate the Option exercise dates specified above if Boeing must make production decisions which are dependent on Buyer's decision to buy the Option Aircraft.  If Boeing elects to accelerate the Option exercise dates, Boeing will do so by giving written or telegraphic notice thereof to Buyer.  Such notice will specify the revised Option exercise dates, which will not be earlier than 30 days after the date of transmittal of such notice, and the Option Aircraft delivery positions affected by such revision.  If Buyer fails to exercise its Option for any Option Aircraft affected by such revised dates, the Deposit applicable to such Option Aircraft will be promptly refunded, with interest, to Buyer.  The interest rate for calculation of the interest associated with such refund is the rate of two percent (2%) below the Citibank base rate in effect from time to time during the period the Option deposit is held by Boeing.

5.    Contract Terms.

It is understood that Boeing and Buyer will use their best efforts to enter into a definitive agreement for the Option Aircraft within thirty (30) days after Buyer exercises an Option to purchase Option Aircraft pursuant to paragraph 4 covering the detailed terms and conditions for the sale of such Option Aircraft.

Such definitive agreement will include the terms and conditions contained herein together with the terms and conditions, not inconsistent herewith, contained in Boeing's then‐current standard form of purchase agreement for the sale of Model 737‐700 aircraft in effect as of the date of Option exercise and such additional terms and conditions as may be mutually agreed upon.  In the event the parties have not entered into such an agreement within the time period contemplated herein, either party may,

    
	
		
	SWA-PA-1810-LA-1105884R1
	Page 2

	Option Aircraft
	SA-90

	BOEING PROPRIETARY

	
			
	
	 
	 

 exercisable by written or telegraphic notice given to the other within thirty (30) days after such period, terminate the purchase of such Option Aircraft.

6.    Termination of Option to Purchase.

Either Boeing or Buyer may terminate the Options to purchase an Option Aircraft if any of the following events are not accomplished by the respective dates contemplated in this letter agreement, or in the Agreement, as the case may be:

(i)    termination of the purchase of the Aircraft under the Agreement for any reason;

(ii)    payment by Buyer of the Deposit with respect to an Option Aircraft pursuant to paragraph 3.1 herein;

(iii)    exercise of an Option to purchase an Option Aircraft pursuant to the terms hereof.

Any termination of an Option to purchase by Boeing which is based on the termination of the purchase of Aircraft under the Agreement will be on a one-for-one basis, for each Aircraft so terminated.

Any cancellation of an Option to purchase which is based on failure to make the required Deposit or to exercise the Option to purchase shall only apply to the Option Aircraft so canceled.

Termination of an Option to purchase provided by this letter agreement will be caused by either party giving written notice to the other within 10 days after the applicable date.  Upon receipt of such notice, all rights and obligations of the parties with respect to an Option Aircraft for which the Option to purchase has been terminate will thereupon terminate.

***

[Signature page follows.]

[Remainder of page intentionally left blank.]

    
	
		
	SWA-PA-1810-LA-1105884R1
	Page 3

	Option Aircraft
	SA-90

	BOEING PROPRIETARY

	
			
	
	 
	 

7.    Confidential Treatment.

Buyer understands that certain commercial and financial information contained in this Letter Agreement including any attachments hereto is considered by Boeing as confidential.  Buyer agrees that it will treat this Letter Agreement and the information contained herein as confidential and will not, without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein to any other person or entity except as provided in Letter Agreement No. 6‐1162‐RLL‐934, as amended.

Very truly yours,

THE BOEING COMPANY

By     /s/ Jon W. Lewis    

Its     Attorney-In-Fact    

ACCEPTED AND AGREED TO this

date: December 5    , 2014

Southwest Airlines Co.

By     /s/ Chris Monroe    

Its     VP, Treasurer    

Attachments

    
	
		
	SWA-PA-1810-LA-1105884R1
	Page 4

	Option Aircraft
	SA-90

	BOEING PROPRIETARY

	
	
	Attachment A to

	SWA-PA-1810-LA-1105884R1

	Page 1

Model 737‐7H4 Aircraft

1.    Option Aircraft Description and Changes.

1.1    Aircraft Description.  The Option Aircraft is described by Boeing Detail Specification D019A001SWA37P-1 Rev New, Dated September 23, 2010. 

1.2    Changes.  The Detail Specification will be revised to include:

(1)    Changes applicable to the basic Model 737‐700 aircraft which are developed by Boeing between the date of the Detail Specification and the signing of a definitive agreement to purchase the Option Aircraft.

(2)    Changes mutually agreed upon.

(3)    Changes required to obtain a Standard Certificate of Airworthiness.

(4)    To provide sufficient Option Aircraft manufacturing and procurement lead time it is necessary for Boeing and Buyer to reach final agreement on the Option Aircraft configuration, including BFE/SPE vendor selection fifteen (15) months prior to delivery of each Option Aircraft.  If such items are not resolved by the indicated dates, Boeing reserves the right to amend this letter agreement:

(i)    to adjust the scheduled delivery of the Option Aircraft to a later time period and,

(ii)    to make such other changes as are appropriate and consistent with the revised Option Aircraft deliveries.

1.3    Effect of Changes.  Changes to the Detail Specification incorporated pursuant to the provisions of the clauses above will include the effects of such changes upon Option Aircraft weight, balance, design and performance.  Performance guarantees for the Option Aircraft which are mutually acceptable to the parties will be included in the definitive agreement for the Option Aircraft.
2.    Price Description.

2.1    Price Elements Per Aircraft.  The Aircraft Basic Price detailed in Attachment B to this Letter Agreement is added to the estimated Economic Price Adjustment to determine the Advance Payment Base Price of the Option Aircraft (also listed in Attachment B of this Letter Agreement).  

2.2    ***

 

	
			
	P.A. No. 1810
	 
	SA-90

	
	
	Attachment A to

	SWA-PA-1810-LA-1105884R1

	Page 2

        

	
			
	P.A. No. 1810
	 
	SA-90

	
	
	Attachment B to

	Letter Agreement No. SWA-PA-1810-LA-1105884R1

	Option Aircraft Delivery, Description, Price and Advance Payments

	
										
	

Airframe Model/MTOW:
	737-700
	154500 pounds
	 
	Detail Specification:
	 
	 
	D019A001SWA37P-1 Rev New
	 

	Engine Model/Thrust:
	CFM56-7B24
	24000 pounds
	 
	Base Aircraft Price Base Year/Escalation Formula:
	Jul-11
	ECI-MFG/CPI

	Base Aircraft Price:
	 
	***
	 
	Engine Price Base Year/Escalation Formula:
	N/A
	N/A

	Special Features:
	 
	***
	 
	 
	 
	 
	 
	 

	Sub-Total of Aircraft Base Price and Features:
	***
	 
	Aircraft Price Escalation Data:
	 
	 
	 

	Engine Price (Per Aircraft):
	 
	***
	 
	Base Year Index (ECI):
	 
	 
	***
	 

	Aircraft Basic Price (Excluding BFE/SPE):
	***
	 
	Base Year Index (CPI):
	 
	 
	***
	 

	Buyer Furnished Equipment (BFE) Estimate:
	***
	 
	 
	 
	 
	 
	 

	Seller Purchased Equipment (SPE) Estimate:
	***
	 
	 
	 
	 
	 
	 

	 
	 
	 
	 
	 
	 
	 
	 
	 
	 

	Non-Refundable Deposit/Aircraft at Def Agreemt:
	***
	 
	 
	 
	 
	 
	 

	
										
	 
	 
	Escalation
	 
	 
	Escalation Estimate
	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

	Delivery
	Number of
	Factor
	 
	 
	Adv Payment Base
	At Signing
	24 Mos.
	21/18/12/9/6 Mos.
	Total

	Date
	Aircraft
	(Airframe)
	 
	 
	Price Per A/P
	***
	***
	***
	***

	Jun-2016
	1
	***
	 
	 
	***
	***
	***
	***
	***

	Jul-2016
	2
	***
	 
	 
	***
	***
	***
	***
	***

	Aug-2016
	2
	***
	 
	 
	***
	***
	***
	***
	***

	Sep-2016
	1
	***
	 
	 
	***
	***
	***
	***
	***

	Oct-2016
	1
	***
	 
	 
	***
	***
	***
	***
	***

	Nov-2016
	1
	***
	 
	 
	***
	***
	***
	***
	***

	Nov-2016
	1
	***
	 
	 
	***
	***
	***
	***
	***

	Dec-2016
	1
	***
	 
	 
	***
	***
	***
	***
	***

	Dec-2016
	2
	***
	 
	 
	***
	***
	***
	***
	***

	Jan-2017
	2
	***
	 
	 
	***
	***
	***
	***
	***

	Feb-2017
	1
	***
	 
	 
	***
	***
	***
	***
	***

	Mar-2017
	2
	***
	 
	 
	***
	***
	***
	***
	***

	Apr-2017
	2
	***
	 
	 
	***
	***
	***
	***
	***

	
			
	 
	 
	SA 90

	SWA-PA-01810-LA-1105884R1 (58928-1O.TXT)
	Boeing Proprietary
	Page 1

	
	
	Attachment B to

	Letter Agreement No. SWA-PA-1810-LA-1105884R1

	Option Aircraft Delivery, Description, Price and Advance Payments

	
										
	

 
	 
	Escalation
	 
	 
	Escalation Estimate
	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to Delivery):

	Delivery
	Number of
	Factor
	 
	 
	Adv Payment Base
	At Signing
	24 Mos.
	21/18/12/9/6 Mos.
	Total

	Date
	Aircraft
	(Airframe)
	 
	 
	Price Per A/P
	***
	***
	***
	***

	May-2017
	2
	***
	 
	 
	***
	***
	***
	***
	***

	Jun-2017
	1
	***
	 
	 
	***
	***
	***
	***
	***

	Dec-2017
	2
	***
	 
	 
	***
	***
	***
	***
	***

	Jan-2018
	1
	***
	 
	 
	***
	***
	***
	***
	***

	Feb-2018
	2
	***
	 
	 
	***
	***
	***
	***
	***

	Mar-2018
	1
	***
	 
	 
	***
	***
	***
	***
	***

	Apr-2018
	1
	***
	 
	 
	***
	***
	***
	***
	***

	May-2018
	2
	***
	 
	 
	***
	***
	***
	***
	***

	Jun-2018
	2
	***
	 
	 
	***
	***
	***
	***
	***

	Jul-2018
	1
	***
	 
	 
	***
	***
	***
	***
	***

	Aug-2018
	2
	***
	 
	 
	***
	***
	***
	***
	***

	Total:
	36
	 
	 
	 
	 
	 
	 
	 
	 

	
			
	 
	 
	SA 90

	SWA-PA-01810-LA-1105884R1 (58928-1O.TXT)
	Boeing Proprietary
	Page 2

	
			
	
	 
	The Boeing Company XI

	 
	P. O. Box 3707   xxxxx

	 
	Seattle, WA  98124-2207

	 
	                                                                                                                                                                      

SWA-PA-1810-LA-1105885R3

Southwest Airlines Co.
2702 Love Field Drive
P.O. Box 36611
Dallas, Texas 75235-1611

	
		
	Subject:
	***

	 
	 

		
	Reference:
	a)    Purchase Agreement No. 1810 (Purchase Agreement) between The Boeing Company (Boeing) and Southwest Airlines Co. (Buyer) relating to Model 737-7H4 and 737-8H4 aircraft 

This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement.  Unless otherwise noted, this Letter Agreement is solely applicable to the Block 700LUV Aircraft identified in Table 1a of the Purchase Agreement (Block 700LUV Aircraft).  All terms used but not defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement.

		
	1.
	***

	
			
	SWA-PA-1810-LA-1105885R3 
	Page 1

	***
	SA-90

	BOEING PROPRIETARY

	
			
	
	 
	 

		
	2.
	***

	
			
	SWA-PA-1810-LA-1105885R3 
	Page 2

	***
	SA-90

	BOEING PROPRIETARY

	
			
	
	 
	 

		
	3.
	***

		
	4.
	***

		
	5.
	***

		
	6.
	Assignment.

Unless otherwise noted herein, ***  This Letter Agreement cannot be assigned, in whole or in part, without the prior written consent of Boeing.

	
			
	SWA-PA-1810-LA-1105885R3 
	Page 3

	***
	SA-90

	BOEING PROPRIETARY

	
			
	
	 
	 

		
	7.
	Confidentiality.

Buyer understands that certain commercial and financial information contained in this Letter Agreement including any attachments hereto is considered by Boeing as confidential. Buyer agrees that it will treat this Letter Agreement and the information contained herein as confidential and will not, without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein to any other person or entity except as provided in Letter Agreement No. 6-1162-RLL-934, as amended.

Very truly yours,

	
			
	THE BOEING COMPANY

	By
	/s/ Jon W. Lewis

	 

	Its
	Attorney-In-Fact

	 

	ACCEPTED AND AGREED TO this

	 

	Date:
	December 5  , 2014

	 

	SOUTHWEST AIRLINES CO.

	 

	By
	/s/ Chris Monroe

	 
	Chris Monroe

	Its
	VP, Treasurer

	
			
	SWA-PA-1810-LA-1105885R3 
	Page 4

	***
	SA-90

	BOEING PROPRIETARY

	
			
	
	 
	The Boeing Company XI

	 
	P. O. Box 3707   xxxxx

	 
	Seattle, WA  98124-2207

	 
	                                                                                                                                                                      

SWA-PA-1810-LA-1003490R3

Southwest Airlines Co.
2702 Love Field Drive
P.O. Box 36611
Dallas, Texas 75235
	
		
	Subject:
	***

	
		
	Reference:
	a)  Purchase Agreement No. 1810 (Purchase Agreement) between The Boeing Company (Boeing) and Southwest Airlines Co. (Buyer) relating to Model 737-7H4 and 737-8H4 aircraft

    
This letter agreement (Letter Agreement) amends and supplements the Purchase Agreement.  Unless otherwise noted, this Letter Agreement is solely applicable to the Block 800LUV Aircraft identified in Tables 1b and 1c of the Purchase Agreement (Block 800LUV Aircraft).  All terms used but not defined in this Letter Agreement shall have the same meaning as in the Purchase Agreement.

		
	1.
	***

	
		
	SWA-PA-1810-LA-1003490R3 
	Page 1

	***
	SA-90

	BOEING PROPRIETARY

	
			
	
	 
	 

		
	2.
	***

		
	3.
	***

  

	
			
	SWA-PA-1810-LA-1003490R3 
	Page 2

	***
	SA-90

	BOEING PROPRIETARY

	
			
	
	 
	 

		
	4.
	Assignment.

Unless otherwise noted herein, *** described in this Letter Agreement are provided *** in consideration of Buyer’s taking title to the Aircraft at time of delivery and becoming the operator of the Aircraft.  This Letter Agreement cannot be assigned, in whole or in part, without the prior written consent of Boeing.

		
	5.
	Confidentiality.

Buyer understands that certain commercial and financial information contained in this Letter Agreement including any attachments hereto is considered by Boeing as confidential. Buyer agrees that it will treat this Letter Agreement and the information contained herein as confidential and will not, without the prior written consent of Boeing, disclose this Letter Agreement or any information contained herein to any other person or entity except as provided in Letter Agreement No. 6-1162-RLL-934, as amended.

Very truly yours,

	
			
	THE BOEING COMPANY

	 
	 

	By
	/s/ Jon W. Lewis

	 

	Its
	Attorney-In-Fact

	 

	ACCEPTED AND AGREED TO this

	 

	Date:
	December 5, 2014

	 

	SOUTHWEST AIRLINES CO.

	 

	By
	/s/ Chris Monroe

	 
	Chris Monroe

	Its
	VP, Treasurer

	
			
	SWA-PA-1810-LA-1003490R3 
	Page 3

	***
	SA-90

	BOEING PROPRIETARYExhibit 4.1

 

PURSUANT TO THE TERMS OF SECTION 1 AND SECTION 17 OF THIS WARRANT,
ALL OR A PORTION OF THIS WARRANT MAY HAVE BEEN EXERCISED OR CANCELED, AND THEREFORE THE ACTUAL NUMBER OF WARRANT SHARES REPRESENTED
BY THIS WARRANT MAY BE LESS THAN THE AMOUNTS SET FORTH ON THE FACE HEREOF.  ANY TRANSFEREE OF THIS WARRANT SHOULD CONTACT
ACTINIUM PHARMACEUTICALS, INC. IN ADVANCE OF ACQUIRING THIS WARRANT TO BE APPRISED OF THE ACTUAL NUMBER OF SHARES THAT MAY BE ACQUIRED
PURSUANT TO THE EXERCISE OF THIS WARRANT.

  

ACTINIUM PHARMACEUTICALS, INC.

 

Warrant
to Purchase Common Stock

 

Warrant No.: 2015-_____

Number of Shares of Common Stock:  _____

Date of Issuance: February _____, 2015 (“Issuance Date”)

 

Actinium Pharmaceuticals, Inc., a Delaware corporation (the “Company”),
certifies that, for good and valuable consideration, the receipt and sufficiency of which are acknowledged, _____, the registered
holder hereof or its permitted assigns (the “Holder”), is entitled, subject to the terms set forth below, to
purchase from the Company, at the Exercise Price (as defined below) then in effect, upon surrender of this Warrant to Purchase
Common Stock (including any Warrants to Purchase Common Stock issued in exchange, transfer or replacement hereof, the “Warrant”),
at any time or times on or after the date hereof (the “Exercisability Date”), but not after 5:30 p.m., New York
Time, on the Expiration Date (as defined below), _____ (_____) fully paid and nonassessable shares of Common Stock
(as defined below) (the “Warrant Shares”).  Except as otherwise defined herein, capitalized
terms in this Warrant shall have the meanings set forth in Section 14.  This Warrant is one of a series of warrants to
purchase shares of Common Stock (collectively, the “Warrants”) issued on February _____, 2015 (the “Issuance
Date”), pursuant to the Company’s Registration Statement on Form S-3 (No. 333-194768) (as amended) (the “Registration
Statement”).

 

1.          
  EXERCISE OF WARRANT.

 

(a)           Mechanics
of Exercise.  Subject to the terms and conditions hereof (including, without limitation, the limitations set forth
in Section 1(e)), this Warrant may be exercised by the Holder on any day on or after the Exercisability Date, in whole or in part
(but not as to fractional shares), by (i) delivery of a written notice, in the form attached hereto as Exhibit A (the “Exercise
Notice”), of the Holder’s election to exercise this Warrant and (ii) if a registration statement registering the
issuance of the Warrant Shares under the Securities Act of 1933, as amended (the “Securities Act”), is effective
and available for the issuance of the Warrant Shares, or an exemption from registration under the Securities Act is available for
the issuance of the Warrant Shares, payment to the Company of an amount equal to the applicable Exercise Price multiplied by the
number of Warrant Shares as to which this Warrant is being exercised (the “Aggregate Exercise Price”) in cash
or wire transfer of immediately available funds (a “Cash Exercise”) (the items under (i) and (ii) above, the
“Exercise Delivery Documents”).  The Holder shall not be required to surrender this Warrant in order
to effect an exercise hereunder; provided, however, that in the event that this Warrant is exercised in full or for the remaining
unexercised portion hereof, the Holder shall deliver this Warrant to the Company for cancellation within a reasonable time after
such exercise.  On or before the first Trading Day following the date on which the Company has received the Exercise
Delivery Documents (the date upon which the Company has received all of the Exercise Delivery Documents, the “Exercise
Date”), the Company shall transmit by facsimile or e-mail transmission an acknowledgment of confirmation of receipt of
the Exercise Delivery Documents to the Holder and the Company’s transfer agent for the Common Stock (the “Transfer
Agent”). The Company shall deliver any objection to the Exercise Delivery Documents on or before the second Trading Day
following the date on which the Company has received all of the Exercise Delivery Documents.  On or before the third
Trading Day following the date on which the Company has received all of the Exercise Delivery Documents (the “Share Delivery
Date”), the Company shall, (X) provided that the Transfer Agent is participating in The Depository Trust Company
(“DTC”) Fast Automated Securities Transfer Program (the “FAST Program”) and so long as the
certificates therefor are not required to bear a legend regarding restriction on transferability, upon the request of the Holder,
credit such aggregate number of shares of Common Stock to which the Holder is entitled pursuant to such exercise to the Holder’s
or its designee’s balance account with DTC through its Deposit Withdrawal Agent Commission system, or (Y), if the Transfer
Agent is not participating in the FAST Program or if the certificates are required to bear a legend regarding restriction on transferability,
issue and dispatch by overnight courier to the address as specified in the Exercise Notice, a certificate, registered in the Company’s
share register in the name of the Holder or its designee, for the number of shares of Common Stock to which the Holder is entitled
pursuant to such exercise.  Upon delivery of the Exercise Delivery Documents, the Holder shall be deemed for all corporate
purposes to have become the holder of record of the Warrant Shares with respect to which this Warrant has been exercised, irrespective
of the date such Warrant Shares are credited to the Holder’s DTC account or the date of delivery of the certificates evidencing
such Warrant Shares, as the case may be.  If this Warrant is submitted in connection with any exercise pursuant to this
Section 1(a) and the number of Warrant Shares represented by this Warrant submitted for exercise is greater than the number of
Warrant Shares being acquired upon an exercise, then the Company shall as soon as practicable and in no event later than three
Trading Days after any such submission and at its own expense, issue a new Warrant (in accordance with Section 7(e)) representing
the right to purchase the number of Warrant Shares purchasable immediately prior to such exercise under this Warrant, less the
number of Warrant Shares with respect to which this Warrant has been and/or is exercised.  The Company shall pay any
and all taxes and other expenses of the Company (including overnight delivery charges) that may be payable with respect to the
issuance and delivery of Warrant Shares upon exercise of this Warrant; provided, however, that the Company shall
not be required to pay any tax which may be payable in respect of any transfer involved in the registration of any certificates
for Warrant Shares or Warrants in a name other than that of the Holder or an affiliate thereof.  The Holder shall be
responsible for all other tax liability that may arise as a result of holding or transferring this Warrant or receiving Warrant
Shares upon exercise hereof.

 

    	

    	 

    

 

(b)           Exercise
Price.  For purposes of this Warrant, “Exercise Price” means $6.50 per share of Common Stock,
subject to adjustment as provided herein.

 

(c)           Failure
to Timely Deliver Shares.  In addition to any other rights available to a Holder, if the Company fails to deliver
to the Holder a certificate representing Warrant Shares by the third Trading Day after the Exercise Date, and if after such third
Trading Day the Holder purchases (in an open market transaction or otherwise) shares of Common Stock to deliver in satisfaction
of a sale by the Holder of the Warrant Shares that the Holder anticipated receiving from the Company (a “Buy-In”),
then the Company shall, within three Trading Days after the Holder’s request and in the Holder’s discretion, either
(i) pay cash to the Holder in an amount equal to the Holder’s total purchase price (including brokerage commissions, if any)
for the shares of Common Stock so purchased less the Exercise Price (the “Buy-In Price”), at which point the
Company’s obligation to deliver such certificate (and to issue such Common Stock) shall terminate, or (ii) promptly honor
its obligation to deliver to the Holder a certificate or certificates representing such Common Stock and pay cash to the Holder
in an amount equal to the excess (if any) of the Buy-In Price over the product of (A) such number of shares of Common Stock, times
(B) the Closing Price on the date of the event giving rise to the Company’s obligation to deliver such certificate.

 

(d)           [INTENTIONALLY
OMITTED]

 

(e)           Limitations
on Exercises.  (1)  The Company shall not effect the exercise of this Warrant, and the Holder shall not
have the right to exercise this Warrant, to the extent that after giving effect to such exercise, such Holder (together with such
Holder’s affiliates and any other Persons acting as a group together) would beneficially own in excess of 9.99% (the “Maximum
Percentage”) of the shares of Common Stock outstanding immediately after giving effect to such exercise.  For
purposes of the foregoing sentence, the aggregate number of shares of Common Stock beneficially owned by such Person and its affiliates
shall include the number of shares of Common Stock issuable upon exercise of this Warrant with respect to which the determination
of such sentence is being made, but shall exclude shares of Common Stock which would be issuable upon (i) exercise of the remaining,
unexercised portion of this Warrant beneficially owned by such Person and its affiliates and (ii) exercise or conversion of the
unexercised or unconverted portion of any other securities of the Company beneficially owned by such Person and its affiliates
(including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion
or exercise analogous to the limitation contained herein.  Except as set forth in the preceding sentence, for purposes
of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the Securities Exchange Act of
1934, as amended (the “Exchange Act”), it being acknowledged that the Company is not representing to the Holder
that such calculation is in compliance with Section 13(d) of the Exchange Act, and the Holder is solely responsible for any schedules
required to be filed in accordance therewith. For purposes of this Warrant, in determining the number of outstanding shares of
Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as reflected in (1) the Company’s most
recent Form 10-K, Form 10-Q, Current Report on Form 8-K or other public filing with the Securities and Exchange Commission, as
the case may be, (2) a more recent public announcement by the Company or (3) any other notice by the Company or the Transfer Agent
setting forth the number of shares of Common Stock outstanding.  For any reason at any time, upon the written or oral
request of the Holder, where such request indicates that it is being made pursuant to this Warrant, the Company shall within two
Trading Days confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding.  In any
case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of
securities of the Company, including the Warrants, by the Holder and its affiliates since the date as of which such number of outstanding
shares of Common Stock was reported.  By written notice to the Company, the Holder may increase or decrease the Maximum
Percentage to any other percentage not in excess of 9.99% specified in such notice; provided, that (i) any such increase
will not be effective until the 61st day after such notice is delivered to the Company and
(ii) any such increase or decrease will apply only to the Holder and not to any other holder of Warrants. The provisions of this
paragraph shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this Section 1(e)
to correct this paragraph (or any portion hereof) which may be defective or inconsistent with the intended beneficial ownership
limitation herein contained or to make changes or supplements necessary or desirable to properly give effect to such limitation.

 

    	2

    	 

    

 

(f)           No
Fractional Shares or Scrip.  No fractional shares or scrip representing fractional shares shall be issued upon the
exercise of this Warrant.  As to any fraction of a share that the Holder would otherwise be entitled to purchase upon
such exercise, the Company shall pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied
by the Exercise Price.

 

2.            ADJUSTMENT
OF EXERCISE PRICE AND NUMBER OF WARRANT SHARES.  The Exercise Price and the number of Warrant Shares shall be adjusted
from time to time as follows:

 

(a)           Adjustment
upon Subdivision or Combination of Shares of Common Stock.  If the Company at any time on or after the Issuance Date
subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of
Common Stock into a greater number of shares, the Exercise Price in effect immediately prior to such subdivision will be proportionately
reduced and the number of Warrant Shares will be proportionately increased.  If the Company at any time on or after the
Issuance Date combines (by combination, reverse stock split or otherwise) one or more classes of its outstanding shares of Common
Stock into a smaller number of shares, the Exercise Price in effect immediately prior to such combination will be proportionately
increased and the number of Warrant Shares will be proportionately decreased.  Any adjustment under this Section 2(a)
shall become effective at the close of business on the date the subdivision or combination becomes effective.

 

(b)           Other
Events.  If any event occurs of the type contemplated by the provisions of Section 2(a) but not expressly provided
for by such provisions (including, without limitation, the granting of stock appreciation rights, phantom stock rights or other
rights with equity features to the holders of the Company’s equity securities), then the Company’s Board of Directors
will make an appropriate adjustment in the Exercise Price and the number of Warrant Shares so as to protect the rights of the Holder;
provided, that no such adjustment pursuant to this Section 2(b) will increase the Exercise Price or decrease the number
of Warrant Shares as otherwise determined pursuant to this Section 2.

 

(c)           Notwithstanding
anything to the contrary in this Warrant, in no event shall the Exercise Price be reduced below the par value of the Company's
Common Stock

 

    	3

    	 

    

 

3.            RIGHTS
UPON DISTRIBUTION OF ASSETS.  If the Company shall declare or make any dividend or other distribution of its assets
(or rights to acquire its assets) to holders of shares of Common Stock, by way of return of capital or otherwise (including, without
limitation, any distribution of cash, stock or other securities, property or options by way of a dividend, spin off, reclassification,
corporate rearrangement, scheme of arrangement or other similar transaction) (a “Distribution”), at any time
after the issuance of this Warrant, then, in each such case:

 

(a)           any
Exercise Price in effect immediately prior to the close of business on the record date fixed for the determination of holders of
shares of Common Stock entitled to receive the Distribution shall be reduced, effective as of the close of business on such record
date, to a price determined by multiplying such Exercise Price by a fraction of which (i) the numerator shall be the Weighted Average
Price of the shares of Common Stock on the Trading Day immediately preceding such record date minus the value of the Distribution
(as determined in good faith by the Company’s Board of Directors) applicable to one share of Common Stock, and (ii) the denominator
shall be the Weighted Average Price of the shares of Common Stock on the Trading Day immediately preceding such record date; and

 

(b)           the
number of Warrant Shares shall be increased to a number of shares equal to the number of shares of Common Stock obtainable immediately
prior to the close of business on the record date fixed for the determination of holders of shares of Common Stock entitled to
receive the Distribution multiplied by the reciprocal of the fraction set forth in the immediately preceding paragraph (a); provided,
that in the event that the Distribution is of shares of Common Stock or common stock of a company whose common shares are traded
on a national securities exchange or a national automated quotation system (“Other Shares of Common Stock”),
then the Holder may elect to receive a warrant to purchase Other Shares of Common Stock in lieu of an increase in the number of
Warrant Shares, the terms of which shall be identical to those of this Warrant, except that such warrant shall be exercisable into
the number of shares of Other Shares of Common Stock that would have been payable to the Holder pursuant to the Distribution had
the Holder exercised this Warrant immediately prior to such record date and with an aggregate exercise price equal to the product
of the amount by which the exercise price of this Warrant was decreased with respect to the Distribution pursuant to the terms
of the immediately preceding paragraph (a) and the number of Warrant Shares calculated in accordance with the first part of this
paragraph (b).

 

4.             PURCHASE
RIGHTS; FUNDAMENTAL TRANSACTIONS.

 

(a)           Purchase
Rights.  In addition to any adjustments pursuant to Section 2 above, if at any time prior to the Expiration Date
the Company grants, issues or sells any Options, Convertible Securities or rights to purchase stock, warrants, securities or other
property pro rata to the record holders of any class of shares of Common Stock (the “Purchase Rights”), then
the Holder will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which
the Holder could have acquired if the Holder had held the number of shares of Common Stock acquirable upon complete exercise of
this Warrant (without regard to any limitations on the exercise of this Warrant) immediately before the date on which a record
is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record
holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights (provided, however,
that to the extent that the Holder’s right to participate in any such Purchase Right would result in the Holder exceeding
the Maximum Percentage, then the Holder shall not be entitled to participate in such Purchase Right to such extent (or beneficial
ownership of such shares of Common Stock as a result of such Purchase Right to such extent) and such Purchase Right to such extent
shall be held in abeyance for the Holder until such time, if ever, as its right thereto would not result in the Holder exceeding
the Maximum Percentage, at which time the Holder shall be granted such right to the same extent as if there had been no such limitation).

 

    	4

    	 

    

 

(b)           Fundamental
Transactions.  Upon the occurrence of any Fundamental Transaction, the Successor Entity shall succeed to, and be
substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Warrant referring to the
“Company” shall refer instead to the Successor Entity), and may exercise every right and power of the Company and shall
assume all of the obligations of the Company under this Warrant with the same effect as if such Successor Entity had been named
as the Company herein.  Upon consummation of the Fundamental Transaction, the Successor Entity shall deliver to the Holder
confirmation that there shall be issued upon exercise of this Warrant at any time after the consummation of the Fundamental Transaction,
in lieu of the shares of the Common Stock (or other securities, cash, assets or other property purchasable upon the exercise of
the Warrant prior to such Fundamental Transaction), such shares of stock, securities, cash, assets or any other property whatsoever
(including warrants or other purchase or subscription rights), if any, that the Holder would have been entitled to receive upon
the happening of such Fundamental Transaction had this Warrant been exercised immediately prior to such Fundamental Transaction,
as adjusted in accordance with the provisions of this Warrant.  In addition to and not in substitution for any other
rights hereunder, prior to the consummation of any Fundamental Transaction pursuant to which holders of shares of Common Stock
are entitled to receive securities or other assets with respect to or in exchange for shares of Common Stock (a “Corporate
Event”), the Company shall make appropriate provision to ensure that the Holder will thereafter have the right to receive
upon an exercise of this Warrant within 90 days after the consummation of the Fundamental Transaction but, in any event, prior
to the Expiration Date, in lieu of the shares of the Common Stock (or other securities, cash, assets or other property) purchasable
upon the exercise of the Warrant prior to such Fundamental Transaction, such shares of stock, securities, cash, assets or any other
property whatsoever (including warrants or other purchase or subscription rights) which the Holder would have been entitled to
receive upon the happening of such Fundamental Transaction had the Warrant been exercised immediately prior to such Fundamental
Transaction and shall be applied without regard to any limitations on the exercise of this Warrant.  Provision made pursuant
to the preceding sentence shall be in a form and substance reasonably satisfactory to the Required Holders.  The provisions
of this Section shall apply similarly and equally to successive Fundamental Transactions and Corporate Events and shall be applied
without regard to any limitations on the exercise of this Warrant.

 

5.         
  RESERVATION OF WARRANT SHARES.  The Company covenants that it will at all times reserve and keep available
out of the aggregate of its authorized but unissued and otherwise unreserved Common Stock, solely for the purpose of enabling it
to issue Warrant Shares upon exercise of this Warrant as herein provided, the number of shares of Common Stock which are then issuable
and deliverable upon the exercise of this entire Warrant, free from preemptive or any other contingent purchase rights of Persons
other than the Holder (taking into account the adjustments and restrictions in Section 2).  Such reservation shall comply
with the provisions of Section 1.  The Company covenants that all shares of Common Stock so issuable and deliverable
shall, upon issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be duly and validly
authorized, issued and fully paid and nonassessable.  The Company will take all such actions as may be necessary to assure
that such shares of Common Stock may be issued as provided herein without violation of any applicable law or regulation, or of
any requirements of any securities exchange or automated quotation system upon which the Common Stock may be listed.

 

6.            WARRANT
HOLDER NOT DEEMED A STOCKHOLDER.  Except as otherwise specifically provided herein, the Holder, solely in such Person’s
capacity as a holder of this Warrant, shall not be entitled to vote or receive dividends or be deemed the holder of share capital
of the Company for any purpose, nor shall anything contained in this Warrant be construed to confer upon the Holder, solely in
such Person’s capacity as the Holder of this Warrant, any of the rights of a stockholder of the Company or any right to vote,
give or withhold consent to any corporate action (whether any reorganization, issue of stock, reclassification of stock, consolidation,
merger, conveyance or otherwise), receive notice of meetings, receive dividends or subscription rights, or otherwise, prior to
the issuance to the Holder of the Warrant Shares which such Person is then entitled to receive upon the due exercise of this Warrant.  In
addition, nothing contained in this Warrant shall be construed as imposing any liabilities on the Holder to purchase any securities
(upon exercise of this Warrant or otherwise) or as a stockholder of the Company, whether such liabilities are asserted by the Company
or by creditors of the Company.

 

7.        
   REGISTRATION AND REISSUANCE OF WARRANTS.

 

(a)           Registration
of Warrant.  The Company shall register this Warrant, upon the records to be maintained by the Company for that purpose
(the “Warrant Register”), in the name of the record Holder hereof from time to time.  The Company
may deem and treat the registered Holder of this Warrant as the absolute owner hereof for the purpose of any exercise hereof or
any distribution to the Holder, and for all other purposes, absent actual notice to the contrary.  The Company shall
also register any transfer, exchange, reissuance or cancellation of any portion of this Warrant in the Warrant Register.

 

(b)           Transfer
of Warrant.  This Warrant may be offered for sale, sold, transferred or assigned without the consent of the Company,
except as may otherwise be required by applicable securities laws.  Subject to applicable securities laws, if this Warrant
is to be transferred, the Holder shall surrender this Warrant to the Company together with all applicable transfer taxes, whereupon
the Company will forthwith issue and deliver upon the order of the Holder a new Warrant (in accordance with Section 7(e)), registered
as the Holder may request, representing the right to purchase the number of Warrant Shares being transferred by the Holder and,
if less then the total number of Warrant Shares then underlying this Warrant is being transferred, a new Warrant (in accordance
with Section 7(e)) to the Holder representing the right to purchase the number of Warrant Shares not being transferred.

 

    	5

    	 

    

 

(c)           Lost,
Stolen or Mutilated Warrant.  Upon receipt by the Company 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, of any indemnification
undertaking by the Holder to the Company in customary form or the provision of reasonable security by the Holder to the Company
and, in the case of mutilation, upon surrender and cancellation of this Warrant, the Company shall execute and deliver to the Holder
a new Warrant (in accordance with Section 7(e)) representing the right to purchase the Warrant Shares then underlying this Warrant.

 

(d)           Exchangeable
for Multiple Warrants.  This Warrant is exchangeable, upon the surrender hereof by the Holder at the principal office
of the Company together with all applicable transfer taxes, for a new Warrant or Warrants (in accordance with Section 7(e)) representing
in the aggregate the right to purchase the number of Warrant Shares then underlying this Warrant, and each such new Warrant will
represent the right to purchase such portion of such Warrant Shares as is designated by the Holder at the time of such surrender;
provided, however, that the Company shall not be required to issue Warrants for fractional shares of Common Stock
hereunder.

 

(e)           Issuance
of New Warrants.  Whenever the Company is required to issue a new Warrant pursuant to the terms of this Warrant,
such new Warrant shall (i) be of like tenor with this Warrant, (ii) represent, as indicated on the face of such new Warrant, the
right to purchase the Warrant Shares then underlying this Warrant (or in the case of a new Warrant being issued pursuant to Section
7(b) or Section 7(c), the Warrant Shares designated by the Holder which, when added to the number of shares of Common Stock underlying
the other new Warrants issued in connection with such issuance, does not exceed the number of Warrant Shares then underlying this
Warrant), (iii) have an issuance date, as indicated on the face of such new Warrant which is the same as the Issuance Date and
(iv) have the same rights and conditions as this Warrant.

 

8.            NOTICES.  Whenever
notice is required to be given under this Warrant, unless otherwise provided herein, such notice shall be given in accordance with
the information set forth in the Warrant Register.  The Company shall provide the Holder with prompt written notice of
all actions taken pursuant to this Warrant, including, in reasonable detail, a description of such action and the reason or reasons
therefore.  Without limiting the generality of the foregoing, the Company will give written notice to the Holder (i)
immediately upon any adjustment of the Exercise Price, setting forth in reasonable detail, and certifying, the calculation of such
adjustment and (ii) at least 20 days prior to the date on which the Company closes its books or takes a record (A) with respect
to any dividend or distribution upon the shares of Common Stock, (B) with respect to any grants, issuances or sales of any Options,
Convertible Securities or rights to purchase stock, warrants, securities or other property pro rata to the record holders of any
class of shares of Common Stock or (C) for determining rights to vote with respect to any Fundamental Transaction, dissolution
or liquidation; provided, that in each case, such information shall be made known to the public prior to or in conjunction
with such notice being provided to the Holder.

 

9.            NONCIRCUMVENTION.  The
Company hereby covenants and agrees that the Company will not, by amendment of its Certificate of Incorporation, Bylaws or through
any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, and will
at all times in good faith carry out all the provisions of this Warrant and take all action as may be required to protect the rights
of the Holder.  Without limiting the generality of the foregoing, the Company (i) shall not increase the par value
of any shares of Common Stock receivable upon the exercise of this Warrant above the Exercise Price then in effect, (ii) shall
use all reasonable efforts to take all such actions as may be necessary or appropriate in order that the Company may validly and
legally issue fully paid and nonassessable shares of Common Stock upon the exercise of this Warrant and (iii) shall, so long as
any of the Warrants are outstanding, take all action necessary to reserve and keep available out of its authorized and unissued
shares of Common Stock, solely for the purpose of effecting the exercise of the Warrants, the number of shares of Common Stock
as shall from time to time be necessary to effect the exercise of the Warrants then outstanding (without regard to any limitations
on exercise).

 

    	6

    	 

    

 

10.           AMENDMENT
AND WAIVER.  Except as otherwise provided herein, the provisions of this Warrant may be amended and the Company may
take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained
the written consent of the Required Holders; provided, that no such action may increase the exercise price of any Warrant
or decrease the number of shares or class of stock obtainable upon exercise of any Warrant without the written consent of the Holder.  No
such amendment shall be effective to the extent that it applies to less than all of the holders of the Warrants then outstanding.

 

11.           GOVERNING
LAW.  This Warrant shall be governed by and construed and enforced in accordance with, and all questions concerning
the construction, validity, interpretation and performance of this Warrant shall be governed by, the internal laws of the State
of New York, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of New York
or any other jurisdictions) that would cause the application of the laws of any jurisdictions other than the State of New York.

 

12.           CONSTRUCTION;
HEADINGS.  This Warrant shall be deemed to be jointly drafted by the Company and all the Investors and shall not
be construed against any person as the drafter hereof.  The headings of this Warrant are for convenience of reference
and shall not form part of, or affect the interpretation of, this Warrant.

 

13.           DISPUTE
RESOLUTION.  In the case of a dispute as to the determination of the Exercise Price or the arithmetic calculation
of the Warrant Shares, the Company shall submit the disputed determinations or arithmetic calculations via facsimile within two
Trading Days of receipt of the Exercise Notice giving rise to such dispute, as the case may be, to the Holder.  If the
Holder and the Company are unable to agree upon such determination or calculation of the Exercise Price or the Warrant Shares within
five Trading Days of such disputed determination or arithmetic calculation being submitted to the Holder, then the Company shall,
within two Trading Days submit via facsimile (a) the disputed determination of the Exercise Price to an independent, reputable
investment bank selected by the Company and approved by the Holder or (b) the disputed arithmetic calculation of the Warrant Shares
to the Company’s independent, outside accountant.  The Company shall cause the investment bank or the accountant,
as the case may be, to perform the determinations or calculations and notify the Company and the Holder of the results no later
than 10 Trading Days from the time it receives the disputed determinations or calculations.  Such investment bank’s
or accountant’s determination or calculation, as the case may be, shall be binding upon all parties absent demonstrable error.  The
expenses of the investment bank and accountant will be borne by the Company unless the investment bank or accountant determines
that the determination of the Exercise Price or the arithmetic calculation of the Warrant Shares by the Holder was incorrect, in
which case the expenses of the investment bank and accountant will be borne by the Holder.

 

14.           REMEDIES,
OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF.  The remedies provided in this Warrant shall be cumulative and
in addition to all other remedies available under this Warrant, at law or in equity (including a decree of specific performance
and/or other injunctive relief), and nothing herein shall limit the right of the Holder to pursue actual damages for any failure
by the Company to comply with the terms of this Warrant.  The Company acknowledges that a breach by it of its obligations
hereunder may cause irreparable harm to the Holder and that the remedy at law for any such breach may be inadequate.  The
Company therefore agrees that, in the event of any such breach or threatened breach, the holder of this Warrant shall be entitled,
in addition to all other available remedies, to seek an injunction restraining any breach.  Notwithstanding the foregoing
or anything else herein to the contrary, other than as expressly provided in Section 1(c) hereof, if the Company is for any reason
unable to issue and deliver Warrant Shares upon exercise of this Warrant as required pursuant to the terms hereof, the Company
shall have no obligation to pay to the Holder any cash or other consideration or otherwise “net cash settle” this Warrant.

 

15.           LIMITATION
ON LIABILITY.  No provisions hereof, in the absence of affirmative action by the Holder to purchase Warrant Shares
hereunder, shall give rise to any liability of the Holder to pay the Exercise Price or as a shareholder of the Company (whether
such liability is asserted by the Company or creditors of the Company).

 

16.           SUCCESSORS
AND ASSIGNS.  This Warrant shall bind and inure to the benefit of and be enforceable by the Company and the Holder
and their respective permitted successors and assigns.

 

    	7

    	 

    

 

17.           CERTAIN
DEFINITIONS.  For purposes of this Warrant, the following terms shall have the following meanings:

 

(a)           ”Bloomberg”
means Bloomberg LP.

 

(b)           ”Common
Stock” means (i) the Company’s shares of Common Stock, $0.01 par value per share, and (ii) any share capital into
which such Common Stock shall have been changed or any share capital resulting from a reclassification of such Common Stock.

 

(c)           ”Convertible
Securities” means any stock or securities (other than Options) directly or indirectly convertible into or exercisable
or exchangeable for shares of Common Stock.

 

(d)           ”Eligible
Market” means The New York Stock Exchange, Inc., the NYSE MKT or The Nasdaq Stock Market.

 

(e)           ”Expiration
Date” means the four year anniversary of the Issuance Date or, if such date falls on a day other than a Trading Day
or on which trading does not take place on the Principal Market, or, if the Principal Market is not the principal trading
market for the Common Stock, then on the principal securities exchange or securities market on which the Common Stock is then
traded (a “Holiday”), the next date that is not a Holiday.

 

(f)           ”Fundamental
Transaction” means that the Company shall, directly or indirectly, in one or more related transactions, (i) consolidate
or merge with or into another Person, (ii) sell, assign, transfer, convey or otherwise dispose of all or substantially all of the
properties or assets of the Company to another Person, (iii) allow another Person to make a purchase, tender or exchange offer
that is accepted by the holders of more than 50% of either the outstanding shares of Common Stock (not including any shares of
Common Stock held by the Person or Persons making or party to, or associated or affiliated with the Persons making or party to,
such purchase, tender or exchange offer), (iv) consummate a stock purchase agreement or other business combination (including,
without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another Person whereby such other
Person acquires more than 50% of the outstanding shares of Common Stock (not including any shares of Common Stock held by the other
Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such stock purchase
agreement or other business combination), (v) reorganize, recapitalize or reclassify its Common Stock or (vi) any “person”
or “group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the Exchange Act) is or shall become
the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate
ordinary voting power represented by issued and outstanding Common Stock.

 

(g)           ”Options”
means any rights, warrants or options to subscribe for or purchase shares of Common Stock or Convertible Securities.

 

(h)           ”Parent
Entity” of a Person means an entity that, directly or indirectly, controls the applicable Person and whose common stock
or equivalent equity security is quoted or listed on an Eligible Market, or, if there is more than one such Person or Parent Entity,
the Person or Parent Entity with the largest public market capitalization as of the date of consummation of the Fundamental Transaction.

 

(i)           ”Person”
means an individual, a limited liability company, a partnership, a joint venture, a corporation, a trust, an unincorporated organization,
any other entity and a government or any department or agency thereof.

 

(j)           ”Principal
Market” means the NYSE MKT.

 

(k)           ”Required
Holders” means the holders of the Warrants representing at least a majority of shares of Common Stock underlying the
Warrants then outstanding.

 

    	8

    	 

    

 

(l)         
  ”Successor Entity” means the Person (or, if so elected by the Required Holders, the Parent Entity)
formed by, resulting from or surviving any Fundamental Transaction or the Person (or, if so elected by the Required Holders, the
Parent Entity) with which such Fundamental Transaction shall have been entered into.

 

(m)           ”Trading
Day” means any day on which the Common Stock is traded on the Principal Market, or, if the Principal Market is not the
principal trading market for the Common Stock, then on the principal securities exchange or securities market on which the Common
Stock is then traded; provided that “Trading Day” shall not include any day on which the Common Stock is scheduled
to trade on such exchange or market for less than 4.5 hours or any day that the Common Stock is suspended from trading during the
final hour of trading on such exchange or market (or if such exchange or market does not designate in advance the closing time
of trading on such exchange or market, then during the hour ending at 4:00:00 p.m., New York Time).

 

(n)           ”Weighted
Average Price” means, for any security as of any date, the dollar volume-weighted average price for such security on
the Principal Market, or, if the Principal Market is not the principal trading market for the Common Stock, then on the principal
securities exchange on which the Common Stock is then traded, during the period beginning at 9:30:01 a.m., New York City time,
and ending at 4:00:00 p.m., New York City time, as reported by Bloomberg through its “Volume at Price” function or,
if the foregoing does not apply, the dollar volume-weighted average price of such security in the over-the-counter market on the
electronic bulletin board for such security during the period beginning at 9:30:01 a.m., New York City time, and ending at 4:00:00
p.m., New York City time, as reported by Bloomberg, or, if no dollar volume-weighted average price is reported for such security
by Bloomberg for such hours, the average of the highest closing bid price and the lowest closing ask price of any of the market
makers for such security as reported in the “pink sheets” by OTC Markets Inc..  If the Weighted Average Price
cannot be calculated for such security on such date on any of the foregoing bases, the Weighted Average Price of such security
on such date shall be the fair market value as mutually determined by the Company and the Required Holders.  If the Company
and the Required Holders are unable to agree upon the fair market value of such security, then such dispute shall be resolved pursuant
to Section 12 with the term “Weighted Average Price” being substituted for the term “Exercise Price.”  All
such determinations shall be appropriately adjusted for any share dividend, share split or other similar transaction during such
period.

 

[Signature Page
Follows]

 

    	9

    	 

    

 

IN WITNESS WHEREOF, the Company has caused
this Warrant to Purchase Common Stock to be duly executed as of the Issuance Date set out above.

 

	 	ACTINIUM PHARMACEUTICALS, INC.
	 	 	 
		By: 	 
			
	 	 	Name:
	 	 	Title: 

 

    	10

    	 

    

 

EXHIBIT A

 

EXERCISE NOTICE

 

TO BE EXECUTED BY THE REGISTERED HOLDER TO
EXERCISE THIS

WARRANT TO PURCHASE COMMON STOCK

 

ACTINIUM PHARMACEUTICALS, INC.

 

The undersigned holder hereby exercises the right to purchase _________________
of the shares of Common Stock (“Warrant Shares”) of Actinium Pharmaceuticals, Inc., a Delaware corporation (the
“Company”), evidenced by the attached Warrant to Purchase Common Stock (the “Warrant”).  Capitalized
terms used herein and not otherwise defined shall have the respective meanings set forth in the Warrant.

 

1.           
 Exercise Price.  The Holder intends that payment of the Exercise Price shall be made as cash exercise under
Section 1(a). The Holder shall pay the sum of $  to the Company in accordance with
the terms of the Warrant.

  

2.             Delivery
of Warrant Shares.  The Company shall deliver to the holder __________ Warrant Shares in accordance with the terms
of the Warrant. If the shares are to be delivered electronically, please complete the DTC DWAC information below.

 

4.        
    Representations and Warranties.  By its delivery of this Exercise Notice, the undersigned
represents and warrants to the Company that in giving effect to the exercise evidenced hereby the Holder will not beneficially
own in excess of the number of shares of Common Stock (determined in accordance with Section 13(d) of the Securities Exchange Act
of 1934, as amended) permitted to be owned under Section 1(e) of this Warrant to which this notice relates.

 

Date: _______________ __, ______

 

	______________________________________	______________________________________
	Name of Registered Holder 	Name of Signatory

 

	By:	 	 
	 	Name:	 
	 	Title :	 

 

If shares are to be delivered electronically:

 

Broker Name: ________________________________

 

Broker DTC DWAC #: ________________________________

 

Account at Broker shares are to be delivered to: ________________________________

 

    	11

    	 

    

 

ACKNOWLEDGMENT

  

The Company hereby acknowledges this Exercise
Notice.

 

	 	ACTINIUM PHARMACEUTICALS, INC.
	 	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title: 

 

 

12

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