Document:

exhibit10-1.htm

    
EXHIBIT
10.1

    AGREEMENT 

     

         1. This Agreement (this “Agreement”) is hereby entered into as of December
31, 2009 between Jara Enterprises Inc. (“Jara”), Jane Love and Jennifer
Convertibles, Inc. (“Jennifer”). Jara has ceased operations of the 20 Jennifer
stores controlled and operated by it or its subsidiaries, including a licensed
store operated by Jara, the owner of which has consented to have its store
treated as if such store was owned by Jara for the purposes of this Agreement
(the “Stores”) and Jennifer wishes to provide an orderly wind down of such
operations to protect the brand and its customers. 

     

         2. The parties hereby agree that as
of the January 1, 2010, Jennifer will, subject to Section 7, operate any or all
of the Stores for the benefit of Jennifer and Jennifer will collect all customer
payments from sales made at the Stores and after such date. Jennifer will offer
to employ all Store location based employees currently employed by Jara,
provided they sign an appropriate agreement to the effect that Jennifer is not
responsible for any commissions, salary, health or other benefits or other
compensation owed them prior to such date, and the parties hereby agree that
Jennifer will not be, and is not, responsible for any such commissions, salary
or compensation. Jennifer will be responsible for the costs of operating the
Stores on and after January 1, 2010, except as provided in Section 7 with
respect to Stores vacated by Jennifer. 

     

         3. Subject to receipt of a bill of sale or other appropriate evidence of
conveyance of title, Jennifer will pay to Jara $635,000 for the current
inventory in each of the Stores. Jennifer shall make such payments in accordance
with the schedule set forth on Annex
A attached hereto.
Jara shall also be entitled to receive, the remaining balance collected from
customers on Old Sales, as defined below, which were delivered on December 23,
2009, December 24, 2009 and December 26, 2009. Except as set forth in the prior
sentence, Jara is not entitled to any payments by customers with respect to
amounts received by Jennifer for Old Sales or any other sales written at the
Stores.

     

         4. Jennifer hereby agrees to ship to customers, subject to customers’
refusal or inability to accept delivery, the merchandise for sales written at
the Stores (“Old Sales”) on or prior to November 27, 2009 but not yet delivered.
Jara shall not be required to make any further payment as to the merchandise to
be delivered to fulfill Old Sales. Jara agrees to be responsible for and pay all
sales taxes and commissions on Old Sales and Jennifer shall not be responsible
for such taxes or commissions. In the event that an Old Sale is re-written with
a date after November 27, 2009, Jara agrees to be responsible for payment of
sales taxes, or reimburse Jennifer if Jennifer pays such taxes, and commissions
on the rewritten Old Sale. Jennifer shall be entitled to any additional deposits
or other payments received by Jara after December 21, 2009, for Old Sales. Jara
shall not make any floor sales from inventory after December 26, 2009, with the
exception of the Store located in Bedford-Stuyvesant, Brooklyn, New York (the
“BED Store”) that is being liquidated. Jara shall be responsible for all sales
taxes and commissions on floor sales from inventory made prior to January 1,
2010 at any of the Stores. With respect to the BED Store, Jara is responsible
for the sales tax, commissions, any other payments, including, delivery charges.
Jennifer will not be responsible for delivery of any merchandise in the BED
Store and Jara agrees to use its own services for delivery. 

     

    

    
    

         5. Jennifer acknowledges and agrees that amounts owed under the Interim
Agreement estimated at $301,000, and due to Jennifer pursuant to Interim
Agreement (the “Balance”), are hereby deemed paid in full, except as otherwise
provided herein, subject to the transfer by Jara to Jennifer of 93,579 shares of
Jennifer common stock, par value $0.01 per share, owned by Jara. 

     

         6. Except as provided in Section 3, Jara agrees to pay Jennifer all amounts
collected by it which exceed 35% of the collected sales price (excluding
delivery costs and applicable sales taxes) for all sales subsequent to December
21, 2009 and prior to January 1, 2010, whether as part of an initial deposit or
Additional Payments as defined below. Any amounts in excess of the 35% which
Jara does not pay to Jennifer shall be offset against amounts due to Jara
pursuant to Section 3. For purposes of this Agreement, “Additional Payments”
shall means any payments received by Jara with respect to sales after an initial
deposit.

     

         7. Beginning on January 1, 2010, Jennifer agrees to negotiate as to the
existing leases for the Stores with each landlord and will endeavor to cancel or
defer the rent arrearages, which to Jara’s knowledge aggregate approximately
$300,000 as of the date of this Agreement. Jennifer will pay no more than
$300,000 to settle the arrearages at all 20 Stores and if the arrearages exceed
$300,000 Jara will reimburse Jennifer for such excess or such excess will be
used to offset the amount Jennifer owes Jara pursuant to Section 3. Jara agrees
to cooperate with Jennifer with respect to Jennifer’s attempts to negotiate such
settlements and new leases if Jennifer wants to take over the store location.
While it is the intent of Jennifer to take over all 20 Stores, the parties hereby acknowledge that
Jennifer may not be able to successfully negotiate for a new lease or other
arrangement on terms satisfactory to Jennifer, in its sole discretion, in which
case Jennifer will vacate the leased property and Jara shall arrange for closure
of the Store and Jennifer shall not be responsible for any amounts still owed to
the landlord with respect to such Store location, except for the removal of the
showroom inventory which Jennifer shall arrange. Nothing herein shall require
Jennifer to enter into a new lease or to spend all or any part of the $300,000
except that Jennifer shall be obligated to cure arrearages (not to exceed
$300,000 in the aggregate) with respect to the leases for Stores at locations
where Jennifer elects to enter into, and does enter into, a new lease on
Jennifer’s behalf. The parties hereby acknowledge and agree that Jennifer will
not take over the Ricky’s store lease. To the extent that Jennifer enters into a
new lease with the existing landlord, any security deposit will remain with the
landlord with respect to the new lease executed by Jennifer and be applied for
Jennifer’s benefit.

     

         8. Except as specifically set forth herein, the parties agree that Jennifer
will not be responsible for any liabilities of Jara.

     

         9. Jane Love agrees to indemnify, defend and hold harmless Jennifer, from
and against any and all losses, liabilities, claims, actions, damages and
expenses (including without limitation reasonable attorney’s fees and
disbursements) arising out of Jara’s obligations for sales taxes, commissions,
payroll and normal store operating expenses through December 31, 2009, but
excluding rent and related landlord charges. 

     

    2 

     

    

    
    

         10. Jara agrees to provide such information as may be necessary under this
Agreement with respect to former Jara employees, shipping, leases and other
matters surrounding Old Sales. 

     

         11. Each party hereto shall execute and/or cause to be delivered to each
other party hereto such instruments and other documents, and shall take such
other actions as the other parties, or any of them, may reasonably request in
order to consummate and make effective the transactions contemplated in this
Agreement. The parties will cause any of their affiliates to execute and/or
cause to be delivered to each other party hereto such instruments and other
documents, and take such other actions as the other parties, or any of them, may
reasonably request in order to consummate and make effective the transactions
contemplated in this Agreement. 

     

         12. The parties hereby acknowledge and agree that all previous agreements or
arrangements between the parties, including, but not limited to, the Purchasing
Agreement, the Warehousing Agreement, Warehousing Transition Agreement,
Management Agreement and License, Hardware Lease, Software License Agreement,
Option Agreement, the Royalty Agreement, the Trademark Usage Agreement, the
Interim Agreement among Jennifer and Jara and certain of their affiliates and
the other related agreements (as each may have been amended from time to time)
are terminated and shall be of no further force or effect, including, without
limitation, any provisions that purport to extend beyond the termination of the
agreements (including any which purport to extend obligations or liabilities
beyond such termination), except that Jennifer shall retain all rights, title
and interest in, to and under any trademarks, leases and other assets previously
conveyed to Jennifer or its affiliates under such agreements. This Agreement
constitutes the entire understanding of the parties with respect to the subject
matter hereof and supersedes all prior and current understandings and
agreements, whether written or oral, with respect to the parties. The parties
will cause any of their affiliates as were parties to such agreements to execute
any additional evidence of termination as may be reasonably
requested.

     

    3 

     

    

    
    

    EXHIBIT 10.1 

     

         IN WITNESS WHEREOF, the parties have signed
this Agreement as of this 31st day of December 2009. 

     

    
      	
            	Jara Enterprises, Inc.
	
            	
            	 
	
            	By:  	/s/Jane Love	 
	
            	 	Jane Love, President
	
            	
            	 
	
            	/s/Jane Love	 
	
            	Jane Love
	
            	
            	 
	 	Jennifer Convertibles, Inc.
	
            	
            	 
	
            	By:	/s/ Harley
      Greenfield	 
	
            	
            	Harley Greenfield, Chief Executive
      Officer

    

    

    
    

    EXHIBIT 10.1 

     

    ANNEX A 

     

    Jennifer shall pay
Jara $635,000 in accordance with the schedule below:

     

         a.  $100,000 by January
1, 2010; 
     b.  $100,000 by January
15, 2010;
     c.  $150,000 by
February 10, 2010;
     d.  $100,000 by March 10, 2010;
     e.  $75,000 by April 10, 2010; and
     f.  $110,000 by May 10, 2010.exhibit4-1.htm

    EXHIBIT 4.1

     

    COMMON STOCK PURCHASE
AGREEMENT

     

         THIS COMMON STOCK PURCHASE AGREEMENT (“Agreement”) is made and entered
into as of January 4, 2010 (the “Effective Date”), by and between GERON CORPORATION, a Delaware corporation having its
principal place of business at 230 Constitution Drive, Menlo Park, California
94025 (“Geron”), and MPI Research, Inc., a Michigan corporation having its
principal place of business at 54943 North Main Street, Mattawan, MI 49071
(“MPI”).

     

    
      	      	A.	      	Geron and MPI are
      the parties to that certain Master Agreement dated as of December 12, 2003
      (the “Master
      Agreement”),
      and related Services Agreement Addenda under which Geron and MPI have
      agreed that MPI will perform certain services on behalf of Geron on the
      terms set forth therein.
	
            	 
	
            	B.	
            	Pursuant to the
      sixth amendment to the Master Agreement, dated January 4, 2010 (“Amendment
      No. 6”), Geron may pay for the price of services performed by MPI under
      the Master Agreement by delivery of shares of Geron’s Common Stock (the
      “Shares”).
	
            	 
	
            	C.	
            	Geron has elected
      to make payment for such services performed pursuant to Amendment No. 6
      through the delivery of Shares, pursuant to the terms and conditions of
      Amendment No. 6 and this Agreement.

    

     

    THE PARTIES AGREE AS
FOLLOWS:

     

    
      	1.	      	ISSUANCE OF SHARES;
      ADJUSTMENTS.
	 
	 	
            	1.1	      	As
      payment of the price specified in Amendment No. 6, Geron will issue and
      deliver certificates for 133,357 Shares. Upon issuance and delivery of the
      certificate(s) for the Shares, all Shares shall be duly authorized and
      validly issued and represent fully paid shares of Geron’s Common
      Stock.
	 
	2.	
            	CLOSING; DELIVERY.
	 
	 	
            	2.1	
            	The
      consummation of the transaction contemplated by this Agreement (a
      “Closing”) shall be held at such time and place as is mutually agreed upon
      between the parties, but in any event Geron shall make commercially
      reasonable efforts to accomplish the Closing no later than five (5)
      business days after the Effective Date hereof (the “Closing Date”). At the
      Closing, Geron shall deliver to MPI one or more certificates representing
      all of the Shares, which Shares shall be issued in the name of MPI or its
      designee and in such denominations as MPI shall specify.
	 
	 	
            	2.2	
            	Geron’s
      obligations to issue and deliver the stock certificate(s) representing the
      Shares to MPI at the Closing shall be subject to the following conditions,
      which may be waived by Geron:
	 
	 	
            	 	
            	2.2.1	      	the covenants and
      obligations that MPI is required to perform or to comply with pursuant to
      this Agreement, at or prior to the Closing, must have been duly performed
      and complied with in all material respects; and
	 
	 	
            	 	
            	2.2.2	
            	the
      representations and warranties made by MPI herein shall be true and
      correct in all material respects as of the Closing Date.
	 
	 	
            	2.3	
            	MPI’s
      obligation to accept delivery of the stock certificate(s) representing the
      Shares at the Closing shall be subject to the following conditions, any
      one or more of which may be waived by MPI:
	 
	 	
            	 	
            	2.3.1	
            	the covenants and
      obligations that Geron is required to perform or to comply with pursuant
      to this Agreement, at or prior to the Closing, must have been duly
      performed and complied with in all material respects;
	 
	 	
            	 	
            	2.3.2	
            	Geron shall have
      available under its Certificate of Incorporation sufficient authorized
      shares of Common Stock to issue the Shares to MPI; and
	 
	 	
            	 	
            	2.3.3	
            	the
      representation and warranties made by Geron herein shall be true and
      correct in all material respects as of any Closing Date.
	  

    

    

    
    

    
      	3.	      	RESTRICTIONS ON RESALE OF
      SHARES.
	 
	 	
            	3.1	      	Legends. MPI understands and acknowledges that
      the Shares are not registered under the Securities Act of 1933 (the
      “Act”), and that under the Act and other
      applicable laws MPI may be required to hold such Shares for an indefinite
      period of time. Each stock certificate representing Shares shall bear the
      following legends:
	 
	 	
            	 	
            	“THE SECURITIES
      REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
      1933, AS AMENDED (THE “ACT”). ANY TRANSFER OF SUCH SECURITIES SHALL BE
      INVALID UNLESS A REGISTRATION STATEMENT UNDER THE ACT IS IN EFFECT AS TO
      SUCH TRANSFER OR, IN THE OPINION OF COUNSEL REASONABLY ACCEPTABLE TO
      GERON, SUCH REGISTRATION IS UNNECESSARY FOR SUCH TRANSFER TO COMPLY WITH
      THE ACT. THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO THE TERMS OF THE
      COMMON STOCK PURCHASE AGREEMENT, DATED AS OF JANUARY 4, 2010. A COPY OF
      THE AGREEMENT CAN BE OBTAINED FROM THE SECRETARY OF GERON.”
	 
	 	
            	3.2	
            	Limits on Sales. MPI agrees that if it decides to resell
      some or all of the Shares, it will do so only through orderly sales
      executed through a top-tier brokerage house, and in an appropriate manner
      based upon whether the shares are registered or unregistered, i.e., on the Nasdaq Global Market or in a
      Rule 144A compliant transaction. MPI further agrees that it will not
      engage in short selling with respect to the Stock.
	 
	4.	
            	REGISTRATION RIGHTS
	 
	 	
            	4.1	
            	Geron agrees to
      make commercially reasonable efforts to file with the Securities and
      Exchange Commission (the “Commission”) within ten (10) business days after
      the Closing Date, a registration statement under the Act (the
      “Registration
      Statement”), on Form
      S-3 or other appropriate form, so as to permit a non-underwritten public
      offering and resale of the Shares under the Act by MPI. Geron agrees to
      diligently pursue making the Registration Statement effective. Geron will
      notify MPI of the effectiveness of the Registration Statement within one
      (1) business day of receiving notice from the Commission.
	 
	 	
            	4.2	
            	Geron will make
      commercially reasonable efforts to maintain the Registration Statement and
      any post-effective amendment thereto filed under this Section 4 effective
      under the Act until the earliest of (i) the date that none of the Shares
      covered by such Registration Statement are issued and outstanding, (ii)
      the date that all of the Shares have been sold pursuant to such
      Registration Statement, (iii) the date MPI receives an opinion of counsel
      from Geron, which counsel shall be reasonably acceptable to MPI, that the
      Shares may be sold under the provisions of Rule 144 without limitation as
      to volume, (iv) the date that all Shares have been otherwise transferred
      to persons who may trade such shares without restriction under the Act,
      and Geron has delivered a new certificate or other evidence of ownership
      for such securities not bearing a restrictive legend, or (v) the date all
      Shares may be sold at any time, without volume or manner of sale
      limitations pursuant to Rule 144 or any similar provision then in effect
      under the Act in the opinion of counsel to Geron, which counsel shall be
      reasonably acceptable to MPI.
	 
	 	
            	4.3	
            	Geron, at its
      expense, shall furnish to MPI with respect to the Shares registered under
      the Registration Statement such reasonable number of copies of the
      Registration Statement, prospectuses and preliminary prospectuses in
      conformity with the requirements of the Act and such other documents as
      MPI may reasonably request, in order to facilitate the public sale or
      other disposition of all or any of the Shares by MPI, provided, however,
      that the obligation of Geron to deliver copies of prospectuses or
      preliminary prospectuses to MPI shall be subject to the receipt by Geron
      of reasonable assurances from MPI that MPI will comply with the applicable
      provisions of the Act and of such other securities or blue sky laws as may
      be applicable in connection with any use of such prospectuses or
      preliminary prospectuses.
	 
	 	
            	4.4	
            	All fees,
      disbursements and out-of-pocket expenses and costs incurred by Geron in
      connection with the preparation and filing of the Registration Statement
      under Section 4.1 and in complying with applicable securities and Blue Sky
      laws (including, without limitation, all attorneys' fees of Geron) shall
      be borne by Geron. MPI shall bear the cost of fees and expenses of MPI’s
      counsel.
	  

    

    

    
    

    
      	 	
            	4.5	      	Geron
      will advise MPI promptly after it shall receive notice or obtain knowledge
      of the issuance of any stop order by the Commission delaying or suspending
      the effectiveness of the Registration Statement or of the initiation of
      any proceeding for that purpose, and Geron will use its commercially
      reasonable efforts to prevent the issuance of any stop order or to obtain
      its withdrawal at the earliest possible moment if such stop order should
      be issued.
	 
	 	
            	4.6	
            	With a
      view to making available to MPI the benefits of Rule 144 (or its successor
      rule) and any other rule or regulation of the Commission that may at the
      time permit MPI to sell the Shares to the public without registration,
      Geron covenants and agrees to make commercially reasonable efforts to: (i)
      make and keep public information available, as those terms are understood
      and defined in Rule 144, until the earliest of (A) such date as all of the
      Shares may be resold pursuant to Rule 144 or any other rule of similar
      effect or (B) such date as all of the Shares shall have been resold; and
      (ii) file with the Commission in a timely manner all reports and other
      documents required of Geron under the Act and under the Securities
      Exchange Act of 1934, as amended (the “Exchange
      Act”).
	 
	 	
            	4.7	
            	MPI
      will cooperate with Geron in all respects in connection with this
      Agreement, including timely supplying all information reasonably requested
      by Geron (which shall include all information regarding MPI and proposed
      manner of sale of the Shares required to be disclosed in any Registration
      Statement) and executing and returning all documents reasonably requested
      in connection with the registration and sale of the Shares and entering
      into and performing their obligations under any underwriting agreement, if
      the offering is an underwritten offering, in usual and customary form,
      with the managing underwriter or underwriters of such underwritten
      offering. Nothing in this Agreement shall obligate MPI to consent to be
      named as an underwriter in any Registration Statement.
	 
	5.	      	INDEMNIFICATION.
	 
	 	
            	5.1	
            	Geron
      agrees to indemnify and hold harmless MPI (and each person, if any, who
      controls MPI within the meaning of Section 15 of the Act, and each officer
      and director of MPI) against any and all losses, claims, damages or
      liabilities (or actions or proceedings in respect thereof), joint or
      several, directly or indirectly based upon or arising out of (i) any
      untrue statement or alleged untrue statement of any material fact
      contained in the Registration Statement, any preliminary prospectus, final
      prospectus or summary prospectus contained therein or used in connection
      with the offering of the Shares, or any amendment or supplement thereto,
      or (ii) any omission or alleged omission to state a material fact required
      to be stated therein or necessary to make the statements therein not
      misleading; and Geron will reimburse each such indemnified party for any
      legal or any other expenses reasonably incurred by them in connection with
      investigating, preparing, pursuing or defending any such loss, claim,
      damage, liability, action or proceeding, except insofar as any such loss,
      claim, damage, liability, action, proceeding or expense (A) arises out of
      or is based upon an untrue statement or alleged untrue statement or
      omission or alleged omission made in the Registration Statement, any such
      preliminary prospectus, final prospectus, summary prospectus, amendment or
      supplement in reliance upon and in conformity with written information
      furnished to Geron by MPI or such other person expressly for use in the
      preparation thereof, (B) the failure of MPI to comply with its covenants
      and agreements contained in Sections 7.1 or 7.5.3 hereof or (C) any
      misstatement or omission in any prospectus that is corrected in any
      subsequent prospectus that was delivered to MPI prior to the pertinent
      sale or sales by MPI. Such indemnity shall remain in full force and
      effect, regardless of any investigation made by such indemnified party and
      shall survive the transfer of the Shares by MPI.
	  

    

    

    
    

    
      	
            	
            	5.2	
            	MPI agrees to indemnify and hold
      harmless Geron (and each person, if any, who controls Geron within the
      meaning of Section 15 of the Act, each officer of Geron who signs the
      Registration Statement and each director of Geron) from and against
      losses, claims, damages or liabilities (or actions or proceedings in
      respect thereof), joint or several, directly or indirectly based upon or
      arising out of, (i) any failure of MPI to comply with the covenants and
      agreements contained in Sections 7.1 and 7.5.3 hereof or (ii) any untrue
      statement of a material fact contained in the Registration Statement or
      any omission of a material fact required to be stated in the Registration
      Statement or necessary in order to make the statements in the Registration
      Statement not misleading if such untrue statement or omission was made in
      reliance upon and in conformity with written information furnished to
      Geron by on behalf of MPI specifically for use in preparation of the
      Registration Statement; provided, however, that MPI shall not be liable in
      any such case for (A) any untrue statement or omission in the Registration
      Statement, prospectus, or other such document which statement is corrected
      by MPI and delivered to Geron prior to the sale from which such loss
      occurred, (B) any untrue statement or omission in any prospectus which is
      corrected by MPI in any subsequent prospectus, or supplement or amendment
      thereto, and delivered to Geron prior to the sale or sales from which a
      loss or liability arose, or (C) any failure by Geron to fulfill any of its
      obligations under Section 5.1 hereof.
	
            	
            	
            	
            	 
	 	
            	5.3	      	Promptly after receipt by any indemnified person of a notice of a
      claim or the beginning of any action in respect of which indemnity is to
      be sought against an indemnifying person pursuant to this Section 5, such
      indemnified person shall notify the indemnifying person in writing of such
      claim or of the commencement of such action, but the omission to so notify
      the indemnifying party will not relieve it from any liability which it may
      have to any indemnified party under this Section 5 (except to the extent
      that such omission materially and adversely affects the indemnifying
      party’s ability to define such action) or from any liability otherwise
      than under this Section 5. Subject to the provisions hereinafter stated,
      in case any such action shall be brought against an indemnified person,
      the indemnifying person shall be entitled to participate therein, and, to
      the extent that it shall elect by written notice delivered to the
      indemnified party promptly after receiving the aforesaid notice from such
      indemnified party, shall be entitled to assume the defense thereof, with
      counsel reasonably satisfactory to such indemnified person. After notice
      from the indemnifying person to such indemnified person of its election to
      assume the defense thereof, such indemnifying person shall not be liable
      to such indemnified person for any legal expense subsequently incurred by
      such indemnified person in connection with the defense thereof, provided,
      however, that if there exists or shall exist a conflict of interest that
      would make inappropriate, in the reasonable opinion of counsel to the
      indemnified person, for the same counsel to represent both the indemnified
      person and such indemnifying person or any affiliate or associate thereof,
      the indemnified person shall be entitled to retain its own counsel at the
      expense of such indemnifying person; provided, however, that no
      indemnifying person shall be responsible for the fees and expenses of more
      than one separate counsel (together with appropriate local counsel) for
      all indemnified parties. In no event shall any indemnifying person be
      liable in respect to any amounts paid in settlement of any action unless
      the indemnifying person shall have approved the terms of such settlement.
      No indemnifying person shall, without the prior written consent of the
      indemnified person, effect any settlement of any pending or threatened
      proceeding in respect of which any indemnified person is or could have
      been a party and indemnification could have been sought hereunder by such
      indemnified person, unless such settlement includes an unconditional
      release of such indemnified person from all liability on claims that are
      the subject matter of such proceeding.
	 
	 	
            	5.4	
            	The
      provisions of this Section 5 shall survive the termination of this
      Agreement.
	 
	6.	      	REPRESENTATIONS AND ACKNOWLEDGEMENT OF
      GERON.
	  
	 	
            	Geron hereby represents, warrants and covenants to MPI as
      follows:
	  
	 	
            	6.1	
            	Organization, Good Standing and
      Qualification. Geron
      is a corporation duly organized, validly existing and in good standing
      under the laws of the State of Delaware and has all requisite corporate
      power and authority to carry on its business as now conducted and as
      presently proposed to be conducted. Geron is duly qualified to transact
      business and is in good standing as a foreign corporation in each
      jurisdiction in which the failure to so qualify would have a material
      adverse effect on its business or properties.
	  

    

    

    
    

    
      	 	
            	6.2	      	Authorization. All corporate action on the party of
      Geron, its officers, directors and stockholders necessary for the
      authorization, execution and delivery of this Agreement, the performance
      of all obligations of Geron hereunder and the authorization, issuance and
      delivery of the Shares has been taken or will be taken prior to the
      Closing, and this Agreement, when executed and delivered will constitute
      valid and legally binding obligations of Geron, enforceable against Geron
      in accordance with their terms, except as limited by applicable
      bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance
      and other laws of general application affecting enforcement of creditors’
      rights generally, as limited by laws relating to the availability of
      specific performance, injunctive relief or other equitable
    remedies.
	 
	 	
            	6.3	
            	Valid Issuance of Common Stock.
      The Shares, when
      issued, sold and delivered in accordance with the terms hereof for the
      consideration expressed herein, will be duly and validly authorized and
      issued, fully paid and nonassessable and free of restrictions on transfer
      other than restrictions on transfer under this Agreement and applicable
      state and federal securities laws.
	 
	 	
            	6.4	
            	Legal Proceedings and Orders.
      There is no action,
      suit, proceeding or investigation pending or threatened against Geron that
      questions the validity of this Agreement or the right of Geron to enter
      into this Agreement or to consummate this transactions contemplated
      hereby, nor is Geron aware of any basis for any of the forgoing. Geron is
      neither a party nor subject to the provisions of any order, writ,
      injunction, judgment or decree of any court or government agency or
      instrumentality that would affect the ability of Geron to enter into this
      Agreement or to consummate the transactions contemplated
  hereby.
	 
	7.	      	REPRESENTATIONS AND ACKNOWLEDGMENTS OF
      MPI.
	 
	 	
            	MPI hereby represents, warrants, acknowledges and agrees
      that:
	 
	 	
            	7.1	
            	Investment. MPI is acquiring the Shares for MPI’s
      own account, and not directly or indirectly for the account of any other
      person. MPI is acquiring the Shares for investment and not with a view to
      distribution or resale thereof, except in compliance with the Act and any
      applicable state law regulating securities.
	 
	 	
            	7.2	
            	Access to Information.
      MPI has consulted
      with its own attorney, accountant, or investment advisor as MPI has deemed
      advisable with respect to the investment and has determined its
      suitability for MPI. MPI has had the opportunity to ask questions of, and
      to receive answers from, appropriate executive officers of Geron with
      respect to the terms and conditions of the transactions contemplated
      hereby and with respect to the business, affairs, financial condition and
      results of operations of Geron. MPI has had access to such financial and
      other information as is necessary in order for MPI to make a fully
      informed decision as to investment in Geron, and has had the opportunity
      to obtain any additional information necessary to verify any of such
      information to which MPI has had access. MPI acknowledges that neither
      Geron nor any of its officers, directors, employees, agents,
      representatives, or advisors have made any representation or warranty
      other than those specifically expressed herein.
	 
	 	
            	7.3	
            	Business and Financial Expertise.
      MPI further
      represents and warrants that it has such business or financial expertise
      as to be able to evaluate its investment in Geron and purchase of the
      Shares.
	 
	 	
            	7.4	
            	Speculative Investment.
      MPI acknowledges
      that the investment in Geron represented by the Shares is highly
      speculative in nature and is subject to a high degree of risk of loss in
      whole or in part; the amount of such investment is within MPI’s risk
      capital means and is not so great in relation to MPI’s total financial
      resources as would jeopardize the personal financial needs of MPI in the
      event such investment were lost in whole or in part.
	    
  

    

    

    
    

    
      	
            	
            	7.5	
            	Unregistered Securities.
      MPI acknowledges
      that:
	
            	
            	
            	
            	 
	
            	
            	
            	
            	7.5.1	      	MPI must bear the economic risk
      of investment for an indefinite period of time because the Shares have not
      been registered under the Act and therefore cannot and will not be sold
      unless they are subsequently registered under the Act or an exemption from
      such registration is available. Geron has made no agreements, covenants or
      undertakings whatsoever to register any of the Shares under the Act,
      except as provided in Section 4 above. Geron has made no representations,
      warranties or covenants whatsoever as to whether any exemption from the
      Act, including, without limitation, any exemption for limited sales in
      routine brokers’ transactions pursuant to Rule 144 under the Act, will
      become available and any such exemption pursuant to Rule 144, if available
      at all, will not be available unless: (i) a public trading market then
      exists in Geron’s common stock, (ii) Geron has complied with the
      information requirements of Rule 144, and (iii) all other terms and
      conditions of Rule 144 have been satisfied.
	  
	 	
            	 	
            	7.5.2	 	Transfer of the Shares has not
      been registered or qualified under any applicable state law regulating
      securities and, therefore, the Shares cannot and will not be sold unless
      they are subsequently registered or qualified under any such act or an
      exemption therefrom is available. Geron has made no agreements, covenants
      or undertakings whatsoever to register or qualify any of the Shares under
      any such act. Geron has made no representations, warranties or covenants
      whatsoever as to whether any exemption from any such act will become
      available.
	 
	 	
            	 	
            	7.5.3	 	MPI hereby certifies that it is
      an “Accredited Investor” as that term is defined in Rule 501 under the
      Act.
	 
	 	
            	7.6	      	Authorization. MPI has full right, power, authority and
      capacity to enter into this Agreement and to consummate the transactions
      contemplated hereby and thereby and has taken all necessary action to
      authorize the execution, delivery and performance of this Agreement. Upon
      execution and delivery, this Agreement will constitute a valid and binding
      obligation of MPI enforceable against MPI in accordance with its terms,
      except as such enforceability may be limited by applicable bankruptcy,
      insolvency, reorganization, moratorium, fraudulent transfer, liquidation
      or similar laws relating to, or affecting generally, the enforcement of
      creditor's rights and remedies or by other equitable principles of general
      application from time to time in effect.
	 
	8.	      	TAX ADVICE. MPI acknowledges that MPI has not relied
      and will not rely upon Geron or Geron’s counsel with respect to any tax
      consequences related to the ownership, purchase, or disposition of the
      Shares. MPI assumes full responsibility for all such consequences and for
      the preparation and filing of all tax returns and elections which may or
      must be filed in connection with the Shares.
	 
	9.	
            	NOTICES. Any notice or other communication
      required or permitted hereunder shall be in writing and shall be deemed to
      have been duly given on the date of delivery if delivered personally or by
      facsimile, or one day, not including Saturdays, Sundays, or national
      holidays, after sending if sent by national overnight delivery service, or
      five days, not including Saturdays, Sundays, or national holidays, after
      mailing if mailed by first class United States mail, certified or
      registered with return receipt requested, postage prepaid, and addressed
      as follows:
	  

    

    
      	To Geron at:	Geron Corporation
	  	230 Constitution Drive
	  	Menlo Park, California
94025
	 	Attention: Senior Director,
    Legal
	  	Telephone:	(650) 473-7700
	  	Facsimile:	(650) 473-7750
	  
	To MPI at:	MPI Research, Inc.
	  	54943 North Main Street
	  	Mattawan, MI 49071
	  	Telephone: 269.668.3336
	  	Facsimile:
  269.668.4151

    

    

    
    

    
      	10.	      	BINDING EFFECT. This Agreement shall be binding upon the
      heirs, legal representatives and successors of Geron and of MPI; provided,
      however, that MPI may not assign any rights or obligations under this
      Agreement.
	 
	11.	
            	GOVERNING LAW. This Agreement shall be governed by and
      construed in accordance with the laws of the State of
  California.
	 
	12.	
            	INVALID PROVISIONS. In the event that any provision of this
      Agreement is found to be invalid or otherwise unenforceable by a court or
      other tribunal of competent jurisdiction, such invalidity or
      unenforceability shall not be construed as rendering any other provision
      contained herein invalid or unenforceable, and all such other provisions
      shall be given full force and effect to the same extent as though the
      invalid and unenforceable provision was not contained herein.
	 
	13.	
            	COUNTERPARTS. This Agreement may be executed in any
      number of identical counterparts, each of which shall be deemed an
      original, but all of which together shall constitute one and the same
      instrument.
	 
	14.	
            	AMENDMENTS. This Agreement or any provision hereof
      may be changed, waived, or terminated only by a statement in writing
      signed by the party against whom such change, waiver or termination is
      sought to be enforced.
	 
	15.	
            	FUTURE COOPERATION. Each of the parties hereto agrees to
      cooperate at all times from and after the date hereof with respect to all
      of the matters described herein, and to execute such further assignments,
      releases, assumptions, amendments of the Agreement, notifications and
      other documents as may be reasonably requested for the purpose of giving
      effect to, or evidencing or giving notice of, the transactions
      contemplated by this Agreement.
	 
	16.	
            	ENTIRE AGREEMENT. This Agreement and the Master Agreement
      as amended, including Amendment No. 6 thereto, constitute the entire
      agreement of the parties pertaining to the Shares and supersede all prior
      and contemporaneous agreements, representations, and understandings of the
      parties with respect thereto.

    

     

    *REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK* 

     

    *SIGNATURES
FOLLOW*

     

    

    
    

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

     

    
      	Geron
      Corporation 
	     
	   /s/ David
      L. Greenwood
	By:	David L. Greenwood
	Title:     	Executive Vice President, and Chief
	  	Financial Officer
	   
	MPI Research,
      Inc.    
	    
	   /s/ William
      Harrison
	By:	William Harrison
	Title:	President and Chief Operating
Officer

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