Document:

exv10w21

 

Exhibit 10.21

THIS
WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR ANY APPLICABLE STATE
SECURITIES LAW, AND MAY NOT BE SOLD, PLEDGED, OR OTHERWISE TRANSFERRED
WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER SUCH ACT OR PURSUANT
TO RULE 144 AND AN EXEMPTION UNDER APPLICABLE STATE LAW OR AN
OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE CORPORATION AND ITS
COUNSEL, THAT SUCH REGISTRATION IS NOT REQUIRED.

WARRANT
TO PURCHASE STOCK

Corporation: Alexza
Molecular Delivery Corporation, a Delaware corporation

Number
of Shares: 24,058

Class
of Stock: Series C Preferred

Initial
Exercise Price: $1.55871 per share

Issue
Date: January 7, 2003

Expiration
Date: the later of (i) January 7, 2013 or
(ii) seven years after the date of the Company’s initial
public offering.

     THIS
WARRANT CERTIFIES THAT, for the agreed upon value of $1.00 and for
other good and valuable consideration, SILICON VALLEY BANK
(“Holder”) is entitled to purchase the number of fully paid
and nonassessable shares of the class of securities (the
“Shares”) of the corporation (the “Company”) at
the initial exercise price per Share (the “Warrant Price”)
all as set forth above and as adjusted pursuant to Article 2 of
this Warrant, subject to the provisions and upon the terms and
conditions set forth in this Warrant.

ARTICLE
1.  EXERCISE.

1.1  Method
of Exercise.  Holder may exercise this Warrant by delivering a duly executed Notice
of Exercise in substantially the form attached as Appendix 1 to
the principal office of the Company. Unless Holder is exercising the
conversion right set forth in Section 1.2, Holder shall also
deliver to the Company a check for the aggregate Warrant Price for
the Shares being purchased.

1.2  Conversion
Right.  In lieu of exercising this Warrant as specified
in Section 1.1, Holder may from time to time convert this
Warrant, in whole or in part, into a number of Shares determined by
dividing (a) the aggregate fair market value of the Shares or
other securities otherwise issuable upon exercise of this Warrant
minus the aggregate Warrant Price of such Shares by (b) the fair
market value of one Share. The fair market value of the Shares shall
be determined pursuant to Section 1.3.

1.3  Fair
Market Value.  If the Shares are traded in a public
market, the fair market value of the Shares shall be the closing price
of the Shares (or the closing price of the Company’s stock into
which the Shares are convertible) reported for the business day
immediately before Holder delivers its Notice of Exercise to the
Company. If the Shares are not traded in public market, the Board of
Directors of the Company shall determine fair market value in its
reasonable good faith judgement.

1.4  Delivery
of Certificates and New Warrant.  Promptly after Holder exercises or
converts this Warrant, the Company shall deliver to Holder
certificates for the Shares acquired and, if this Warrant has not been
fully exercised or converted and has not expired, a new Warrant
representing the Shares not so acquired.

1.5  Replacement
of Warrants.  On receipt of evidence reasonably
satisfactory to the Company of the loss, theft, destruction or
mutilation of this Warrant and, in the case of loss, theft or
destruction, on delivery of an indemnity agreement reasonably
satisfactory in form and amount to the Company or, in the case of
mutilation, or surrender and cancellation of this Warrant, the
Company shall execute and deliver, in lieu of this Warrant, a new
warrant of like tenor.

1.6  Assumption
on Sale, Merger, or Consolidation of the Company.

 

 

1.6.1  “Acquisition”.  For
the purpose of this Warrant, “Acquisition” means any sale,
license, or other disposition of all or substantially all of the
assets of the Company, or any reorganization, consolidation, or
merger of the Company where the holders of the Company’s
securities before the transaction beneficially own
less than 50% of the outstanding voting securities of the surviving
entity after the transaction.

1.6.2  Assumption
of Warrant.  Upon the closing of any Acquisition, the
successor entity shall assume the obligations of this Warrant, and
this Warrant shall be exercisable for the same securities, cash, and
property as would be payable for the Shares issuable upon exercise of
the unexercised portion of this Warrant as if such Shares were
outstanding on the record date for the Acquisition and subsequent
closing. The Initial Exercise Price and/or number of Shares shall be
adjusted accordingly.

ARTICLE 2.  ADJUSTMENTS
TO THE SHARES.

2.1  Stock
Dividends, Splits, Etc.  If the Company declares or
pays a dividend on its common stock (or the Shares if the Shares are
securities other than common stock) payable in common stock, or other
securities, subdivides the outstanding common stock into a greater
amount of common stock, or, if the Shares are securities other than
common stock, subdivides the Shares in a transaction that increases
the amount of common stock into which the Shares are convertible,
then upon exercise of this Warrant, for each Share acquired, Holder
shall receive, without cost to Holder, the total number and kind of
securities to which Holder would have been entitled had Holder owned
the Shares of record as of the date the dividend or subdivision
occurred. If the outstanding shares are combined or consolidated, by
reclassification or otherwise, into a lesser number of shares, the
Initial Exercise Price shall be proportionately increased.

2.2  Reclassification,
Exchange, Combinations or Substitution.  Upon any
reclassification, exchange, substitution, or other event that results
in a change of the number and/or class of the securities issuable
upon exercise or conversion of this Warrant, Holder shall be entitled
to receive, upon exercise or conversion of this Warrant, the number
and kind of securities and property that Holder would have received
for the Shares if this Warrant had been exercised immediately before
such reclassification, exchange, substitution, or other event. Such an
event shall include any automatic conversion of the outstanding or
issuable securities of the Company of the same class or series as the
Shares to common stock pursuant to the terms of the Company’s
Articles of Incorporation upon the closing of a registered public
offering of the Company’s common stock. The Company or its
successor shall promptly issue to Holder a new Warrant for such new
securities or other property. The new Warrant shall provide for
adjustments which shall be as nearly equivalent as may be
practicable to the adjustments provided for in this Article 2
including, without limitation, adjustments to the Initial Exercise
Price and to the number of securities or property issuable upon
exercise of the new Warrant. The provisions of this Section 2.2
shall similarly apply to successive reclassifications, exchanges,
substitutions, or other events.

2.3  Adjustments
for Diluting Issuances.  The Warrant Price and the
number of Shares issuable upon exercise of this Warrant or, if the
Shares are Preferred Stock, the number of shares of common stock
issuable upon conversion of the Shares, shall be subject to
adjustment, from time to time in the manner set forth in the
Company’s Articles (Certificate) of Incorporation. The
provisions set forth for the Shares in the Company’s Articles
(Certificate) of Incorporation relating to the above in effect as of
the Issue Date may not be amended, modified or waived, without the
prior written consent of Holder unless such amendment, modification
or waiver affects Holder in the same manner as they affect all other
shareholders of the same series of shares granted to the Holder.

2.4  No
Impairment.  The Company shall not, by amendment of its
Articles of Incorporation or through a reorganization, transfer of
assets, consolidation, merger, 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 to be observed or
performed under this Warrant by the Company, but shall at all times in

2

 

good faith assist in carrying out of all the provisions of this
Article 2 and in taking all such action as may be necessary or
appropriate to protect Holder’s rights under this Article
against impairment.

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

     
2.6   Certificate as to Adjustments. Upon each
adjustment of the Warrant Price, the Company shall promptly notify
Holder in writing, and, at the Company’s expense, promptly
compute such adjustment, and furnish Holder with a certificate of its
Chief Financial Officer setting forth such adjustment and the facts
upon which such adjustment is based. The Company shall, upon written
request, furnish Holder a certificate setting forth the Warrant Price
in effect upon the date thereof and the series of adjustments leading
to such Warrant Price.

ARTICLE 3.
REPRESENTATIONS AND COVENANTS OF THE COMPANY.

     
3.1   Representations and Warranties. The Company
represents and warrants to the Holder as follows:

          
(a)   The initial Warrant Price referenced on the first page of
this Warrant is not greater than (i) the price per share at
which the Shares were last issued in an arms-length transaction in
which at least $500,000 of the Shares were sold and (ii) the
fair market value of the Shares as of the date of this Warrant.

          
(b)   All Shares which may be issued upon the exercise of the
purchase right represented by this Warrant, and all securities, if
any, issuable upon conversion of the Shares, shall, upon issuance, be
duly authorized, validly issued, fully paid and nonassessable, and
free of any liens and encumbrances except for restrictions on
transfer provided for herein or under applicable federal and state
securities laws.

          
(c)   The Capitalization Table previously provided to Holder
remains true and complete as of the Issue Date.

     
3.2   Notice of Certain Events. If the Company proposes
at any time (a) to declare any dividend or distribution upon its
common stock, whether in cash, property, stock, or other securities
and whether or not a regular cash dividend; (b) to offer for
subscription pro rata to the holders of any class or series of its
stock any additional shares of stock of any class or series or other
rights; (c) to effect any reclassification or recapitalization
of common stock; (d) to merge or consolidate with or into any
other corporation, or sell, lease, license, or convey all or
substantially all of its assets, or to liquidate, dissolve or wind
up; or (e) offer holders of registration rights the opportunity
to participate in an underwritten public offering of the
company’s securities for cash, then, in connection with each
such event, the Company shall give Holder (1) at least
10 days prior written notice of the date on which a record will
be taken for such dividend, distribution, or subscription rights (and
specifying the date on which the holders of common stock will be
entitled thereto) or for determining rights to vote, if any, in
respect of the matters referred to in (c) and (d) above; (2) in
the case of the matters referred to in (c) and (d) above at least
10 days prior written notice of the date when the same will take
place (and specifying the date on which the holders of common stock
will be entitled to exchange their common stock for securities or
other property deliverable upon the occurrence of such event); and
(3) in the case of the matter referred to in (e) above, the same
notice as is given to the holders of such registration rights.

     
3.3   Registration Under Securities Act of 1933, as
amended. The Company agrees that the Shares or, if the Shares are
convertible into common stock of the Company, such common stock,
shall be subject to the registration rights set forth in the
Company’s Investor Rights Agreement or similar agreement. The
provisions set forth in the Company’s Investors’ Right
Agreement or similar agreement relating to the above in effect as of
the Issue Date may not be amended, modified or waived without the

3

 

prior written consent of Holder unless such
amendment, modification or waiver affects Holder in the same
manner as they affect all other shareholders of the same series
of shares granted to the Holder.

    
3.4 No Shareholder
Rights. Except as provided in this Warrant, the Holder
will not have any rights as a shareholder of the Company until
the exercise of this Warrant.

ARTICLE 4. REPRESENTATIONS, WARRANTIES AND
COVENANTS OF THE HOLDER. The Holder represents and
warrants and covenants to the Company as follows:

    
4.1 Purchase for Own
Account. Except for transfers to Holder’s
affiliates, this Warrant and the securities to be acquired upon
exercise of this Warrant by the Holder will be acquired for
Investment for the Holder’s account, not as a nominee or
agent, and not with a view to the public resale or distribution
within the meaning of the 1933 Act, and the Holder has no
present intention of selling, granting any participation in, or
otherwise distributing the same. If not an individual, the
Holder also represents that the Holder has not been formed for
the specific purpose of acquiring this Warrant or the Shares.

    
4.2 Disclosure of
Information. The Holder has received or has had full
access to all the information it considers necessary or
appropriate to make an informed investment decision with respect
to the acquisition of this Warrant and its underlying
securities. The Holder further has had an opportunity to ask
questions and receive answers from the Company regarding the
terms and conditions of the offering of this Warrant and its
underlying securities and to obtain additional information (to
the extent the Company possessed such information or could
acquire it without unreasonable effort or expense) necessary to
verify any information furnished to the Holder or to which the
Holder has access.

    
4.3 Investment Experience. The
Holder understands that the purchase of this Warrant and its
underlying securities involves substantial risk. The Holder:
(i) has experience as an investor in securities of
companies in the development stage and acknowledges that the
Holder is able to fend for itself, can bear the economic risk of
such Holder’s investment in this Warrant and its underlying
securities and has such knowledge and experience in financial or
business matters that the Holder is capable of evaluating the
merits and risks of its investment in this Warrant and its
underlying securities and/or (ii) has a preexisting
personal or business relationship with the Company and certain
of its officers, directors or controlling persons of a nature
and duration that enables the Holder to be aware of the
character, business acumen and financial circumstances of such
persons.

    
4.4 Accredited Investor
Status. The Holder is an “accredited
investor” within the meaning of Regulation D
promulgated under the 1933 Act.

    
4.5 Right of First Refusal. The
Holder acknowledges that the Bylaws of the Company specify that
all common and preferred stock of the Company is subject to a
right of first refusal in favor of the Company if the Holder
proposes to transfer the stock, subject to certain exceptions
specified in the Company’s Bylaws. Notwithstanding the
foregoing, Company agrees that the foregoing does not restrict
the Holder’s ability to transfer this Warrant pursuant to
section 5.4.

ARTICLE 5. MISCELLANEOUS.

    
5.1 Term: This Warrant is
exercisable in whole or in part at any time and from time to
time on or before the Expiration Date.

    
5.2 Legends. (a) This Warrant
and the Shares (and the securities issuable, directly or
indirectly, upon conversion of the Shares, if any) shall be
imprinted with a legend in substantially the following form:

		
	 	
    THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE
    SECURITIES ACT OF 1933, AS AMENDED OR UNDER ANY APPLICABLE STATE
    LAWS, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED
    WITHOUT AN EFFECTIVE REGISTRATION THERE OF UNDER SUCH ACT
    

4

 

			
	 	
    AND AN EXEMPTION UNDER APPLICABLE STATE LAW OR PURSUANT TO
    RULE 144 OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY
    TO THE CORPORATION AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT
    REQUIRED.	 

          
(b) The Shares (and the securities issuable, directly or
indirectly, upon conversion of the Shares, if any) shall be
imprinted with a legend in substantially the following form:

			
	 	
    THE SECURITIES EVIDENCED BY THIS CERTIFICATE ARE SUBJECT TO A
    RIGHT OF FIRST REFUSAL ON TRANSFERS, UPON TERMS AND CONDITIONS
    SPECIFIED IN THE ISSUER’S BYLAWS, A COPY OF WHICH BYLAWS
    MAY BE OBTAINED, WITHOUT CHARGE, AT THE ISSUER’S PRINCIPAL
    OFFICE.	 

     
5.3 Compliance with Securities Laws on Transfer.
This Warrant and the Shares issuable upon exercise of this
Warrant (and the securities issuable, directly or indirectly,
upon conversion of the Shares, if any) may not be transferred or
assigned in whole or in part without compliance with applicable
federal and state securities laws by the transferor and the
transferee (including, without limitation, the delivery of
investment representation letters and legal opinions reasonably
satisfactory to the Company, as reasonably requested by the
Company). The Company shall not require Holder to provide an
opinion of counsel if the transfer is to an affiliate of Holder
or if there is no material question as to the availability of
current information as referenced in Rule 144(c), Holder
represents that it has complied with Rule 144(d) and (e) in
reasonable detail, the selling broker represents that it has
complied with Rule 144(f), and the Company is provided with
a copy of Holder’s notice of proposed sale.

     
5.4 Transfer Procedure. Subject to the provisions of
Section 5.3, upon receipt by Holder of the executed
Warrant, Holder will transfer all of this Warrant or the Shares
issuable upon exercise of this Warrant (or the securities
issuable, directly or indirectly, upon conversion of the Shares,
if any) to Silicon Valley Bancshares, Holder’s parent
company. Subject to the provisions of Section 5.3 and upon
providing Company with written notice, Silicon Valley Bancshares
may transfer all or part of this Warrant or the Shares issuable
upon exercise of this Warrant (or the Shares issuable directly
or indirectly, upon conversion of the Shares, if any) to The
Silicon Valley Bank Foundation, or to any affiliate of Holder,
or to any other transferee, provided, however, if Holder
transfers this Warrant to any transferee which is not an
affiliate of Holder, Holder will give the Company notice of the
portion of the Warrant being transferred with the name, address
and taxpayer identification number of the transferee and will
surrender this Warrant to the Company for reissuance to the
transferee(s) (and Holder if applicable). The Company may refuse
to transfer this Warrant or the Shares to any person who
directly competes with the Company, unless, in either case, the
stock of the Company is publicly traded.

     
5.5 Notices. All notices and other communications
from the Company to the Holder, or vice versa, shall be deemed
delivered and effective when given personally or mailed by
first-class registered or certified mail, postage prepaid, at
such address as may have been furnished to the Company or the
Holder, as the case may (or on the first business day after
transmission by facsimile) be, in writing by the Company or such
holder from time to time. Effective upon receipt of the fully
executed Warrant and the initial transfer described in
Article 5.4 above, all notices to the Holder shall be
addressed as follows until the Company receives notice of a
change of address in connection with a transfer or otherwise:

		
	 	
    Silicon Valley Bancshares 

     Attn: Treasury Department 

     3003 Tasman Drive, HA 200 

     Santa Clara, CA 95054 

     Telephone: 408-554-7400 

     Facsimile: 408-496-2405

5

 

     
Notice to the Company shall be addressed as follows until the
Holder receives notice of a change in address:

		
	 	
    Alexza Molecular Deliver Corporation
	 
	 	
    Attn: Carol A. Christopher
	 	
    1001 E. Meadow Circle
	 	
    Palo Alto, CA 94303
	 	
    Telephone: (650) 687-3909
	 	
    Facsimile: (650) 687-3999

          
5.6 Waiver. This Warrant and any term hereof may be
changed, waived, discharged or terminated only by an instrument
in writing signed by the party against which enforcement of such
change, waiver, discharge or termination is sought.

          
5.7 Attorney’s Fees. In the event of any
dispute between the parties concerning the terms and provisions
of this Warrant, the party prevailing in such dispute shall be
entitled to collect from the other party all costs incurred in
such dispute, including reasonable attorney’s fees.

          
5.8 Automatic Conversion upon Expiration. In the
event that, upon the Expiration Date, the fair market value of
one Share (or other security issuable upon the exercise hereof)
as determined in accordance with Section 1.3 above is
greater than the Exercise Price in effect on such date, then
this Warrant shall automatically be deemed on and as of such
date to be converted pursuant to Section 1.2 above as to
all Shares (or such other securities) for which it shall not
previously have been exercised or converted, and the Company
shall promptly deliver a certificate representing the Shares (or
such other securities) issued upon such conversion to the Holder.

          
5.9 Governing Law. This Warrant shall be governed by
and construed in accordance with the laws of the State of
California, without giving effect to its principles regarding
conflicts of law.

          
5.10 Market Stand-Off Provision. Holder agrees to be
bound by the “Market Stand-Off” provision (the
“Market Stand-Off Provision”) in section 3.9 of
Company’s Investors’ Rights Agreement (the
“Rights Agreement”) dated September 17, 2002. The
Market Stand-Off Provision provisions set forth in the Rights
Agreement may not be amended, modified, or waived without the
prior written consent of Holder unless such amendment,
modification or waiver affects the rights associated with the
Shares in the same manner as such amendment, modification, or
waiver affects the rights associated with all other shares of
the same series and class as the of Shares granted pursuant to
this Warrant.

		
	 	
    “COMPANY”
	 	
    Alexza Molecular Delivery Corporation

			
	 	By: 	
    /s/ Stephen A. Schneider

		
	 	
     

			
	 	Name: 	
    Stephen A. Schneider

		
	 	
     

			
	 	Title: 	
    Chairman of the Board, President or
Vice President

	 
			
	 	By: 	/s/ Carol A. Christopher

		
	 	
     

	 	
    Name: Carol A. Christopher

			
	 	Title: 	
    Chief Financial Officer, Secretary, Assistant Treasurer or
    Assistant Secretary

		
	 	
    “HOLDER”
	 	
    Silicon Valley Bank

			
	 	By: 	/s/ Mercy Forde

		
	 	
     

	 	
    Name: Mercy Forde
	 	
    Title: VP

 

ASSIGNMENT

For value received, Silicon Valley Bank hereby sells, assigns
and transfers unto:

		
	 	
    Name: Silicon Valley Bancshares
	 	
    Address: 3003 Tasman Drive (HA-200)
	 	
    Santa Clara, CA 95054
	 
	 	
    TaxID: 91-1962278

that certain Warrant to Purchase Stock issued by Alexza
Molecular Delivery Corp. (the “Company”), on Jan. 7, 2003 (the
“Warrant”) together with all rights, title and
interest therein.

		
	 	
    SILICON VALLEY BANK

			
	 	By: 	
    /s/ Mercy Forde

		
	 	
    

			
	 	Name: 	
    Mercy Forde

		
	 	
    

			
	 	Title: 	
    VP

		
	 	
    

Date: 1/7/03

By its execution below, and for the benefit of the Company,
Silicon Valley Bancshares makes each of the representations and
warranties set forth in Article 4 of the Warrant as of the
date hereof.

		
	 	
    SILICON VALLEY BANCSHARES

			
	 	By: 	
    /s/ Paulette Mehas

		
	 	
    

			
	 	Name: 	
    Paulette Mehas

		
	 	
    

			
	 	Title: 	
    Treasurer

		
	 	
    

 

AMENDMENT TO WARRANT AGREEMENT

     
    This Amendment to Warrant Agreement (the “Agreement”)
    is made as of March 4, 2003 by and between Silicon Valley
    Bancshares (“Holder”) and Alexza Molecular Delivery
    Corporation, a Delaware corporation
    (“Company”).

RECITALS

     
A.     Company and Silicon Valley Bank
(“SVB”) executed a Warrant to Purchase Stock, dated
January 7, 2003, together with all schedules and exhibits
thereto (the “Warrant Agreement”). Pursuant to the
terms and conditions in the Warrant Agreement, SVB transferred
its interest in the Warrant Agreement to Silicon Valley
Bancshares.

     
NOW, THEREFORE, the parties agrees as follows:

       1.     The
Issue Date is hereby amended to: January 27, 2003.

       2.     The Expiration Date is hereby amended to: the later of
    (i) January 27, 2013 or (ii) seven years after
    the date of the Company’s initial public offering.

       3.     LEGAL EFFECT: INTERPRETATION. This Agreement amends
    certain terms of the Warrant Agreement. Company confirms that,
    except as amended by this Agreement, the Warrant Agreement
    remains in full force and effect. Unless otherwise defined, all
    terms capitalized in this Agreement shall have the meanings
    assigned in the Warrant Agreement. This Agreement, together with
    the Warrant Agreement, constitutes the entire agreement of the
    parties with respect to the subject matter hereof, and
    supersedes all prior agreements and negotiations.

       4.     COUNTERPARTS. This Agreement may be executed in two or
    more counterparts, each of which shall be deemed an original,
    and all of which shall constitute one and the same
instrument.

       5.     TIME OF ESSENCE. Time is of the essence for the
    performance of all obligations set forth in this Agreement.

     
IN WITNESS WHEREOF, the undersigned have executed this Agreement
as of the date first written above.

	 	 	 	 	 
	
    COMPANY:	 	
    HOLDER:
	 
	
    ALEXZA MOLECULAR DELIVERY CORPORATION	 	
    SILICON VALLEY BANCSHARES
	 
	
    
    By:         /s/ Carol A.
    Christopher
    

    	 	
    By:         /s/
Paulette Mehas
    
	 	 	 	 	 
	 
	
    
    Name:   Carol A. Christopher

    	 	
    Name:   Paulette Mehas
	 	 	 	 	 
	 
	
    
    Title:     CFO

    	 	
    Title:     Treasurer
	 	 	 	 	 

1EXHIBIT 10.22

 

Exhibit 10.22

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED OR ANY
APPLICABLE STATE SECURITIES LAW, AND MAY NOT BE SOLD, PLEDGED,
OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION
THEREOF UNDER SUCH ACT OR PURSUANT TO RULE 144 AND AN
EXEMPTION UNDER APPLICABLE STATE LAW OR AN OPINION OF COUNSEL
REASONABLY SATISFACTORY TO THE CORPORATION AND ITS COUNSEL, THAT
SUCH REGISTRATION IS NOT REQUIRED.

WARRANT TO PURCHASE STOCK

Company: Alexza Molecular Delivery Corporation, a Delaware
Corporation

Number of Shares: 19,247

Class of Stock: Series C Preferred

Warrant Price: $1.55871 per share

Issue Date: Is the Warrant Effective Date, which is the date in
which the Holder executes this Warrant

Expiration Date: The earlier of either (a) the 10th
anniversary after the Issue Date or (b) 7 years after
the date of the Company’s initial public offering.

     
THIS WARRANT CERTIFIES THAT, for the agreed upon value of $1.00
and for other good and valuable consideration, SILICON VALLEY
BANK (“Holder”) is entitled to purchase the number of
fully paid and nonassessable shares of the class of securities
(the “Shares”) of the company (the
“Company“) at the Warrant Price all as set forth above
and as adjusted pursuant to Article 2 of this Warrant,
subject to the provisions and upon the terms and conditions set
forth in this Warrant.

ARTICLE 1. EXERCISE

     
1.1     Method of Exercise.
Holder may exercise this Warrant by delivering a duly executed
Notice of Exercise in substantially the form attached as
Appendix 1 to the principal office of the Company. Unless
Holder is exercising the conversion right set forth in
Article 1.2, Holder shall also deliver to the Company a
check, wire transfer (to an account designated by the Company),
or other form of payment acceptable to the Company for the
aggregate Warrant Price for the Shares being purchased.

     
1.2     Conversion Right. In
lieu exercising this Warrant as specified in Article 1.1,
Holder may from time to time convert this Warrant, In whole or
in part, into a number of Shares determined by dividing
(a) the aggregate fair market value of the Shares or other
securities otherwise issuable upon exercise of this Warrant
minus the aggregate Warrant Price of such Shares by (b) the
fair market value of one Share. The fair market value of the
Shares shall be determined pursuant to Article 1.3.

     
1.3     Fair Market Value. If
the Company’s common stock is traded in a public market and
the shares are common stock, the fair market value of each Share
shall be the closing price of a Share reported for the business
day immediately before Holder delivers its Notice of Exercise to
the Company (or in the instance where the Warrant is exercised
immediately prior to the effectiveness of the Company’s
initial public offering, the “price to public” per
share price specified in the final prospectus relating to such
offering). If the Company’s common stock is traded in a
public market and the Shares are preferred stock, the fair
market value of a Share shall be the closing price of a share of
the Company’s common stock reported for the business day
immediately before Holder delivers its Notice of Exercise to the
Company (or, in the instance where the Warrant is exercised
immediately prior to the effectiveness of the Company’s
initial public offering, the initial “price to public”
per share price specified in the final prospectus relating to
such offering), In both cases, multiplied by the number of
shares of the Company’s common stock, into which a Share is
convertible. If the Company’s common stock is not traded in
a public market, the Board of Directors of the Company shall
determine fair market value in its reasonable good faith
judgment.

     
1.4     Delivery of Certificate and
New Warrant. Promptly after Holder exercises or converts
this Warrant and, if applicable, the Company receives payment of
the aggregate Warrant Price,

 

 

the
Company shall deliver to Holder certificates for the Shares acquired
and, If this Warrant has not been fully exercised or converted and
has not expired, a new Warrant representing the Shares not so
acquired.

     
1.5   Replacement of Warrants. On receipt of evidence
reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Warrant and, in the case of loss,
theft or destruction, on delivery of an indemnity agreement
reasonably satisfactory in form and amount to the Company or, in the
case of mutilation, or surrender and cancellation of this Warrant,
the Company shall execute and deliver, in lieu of this Warrant, a new
warrant of like tenor.

     
1.6   Treatment of Warrant Upon Acquisition of Company.

          
1.6.1   “Acquisition”. For the purpose of this
Warrant, “Acquisition” means any sale, license, or other
disposition of all or substantially all of the assets of the Company,
or any reorganization, consolidation, or merger of the Company where
the holders of the Company’s securities before the transaction
beneficially own less than 50% of the outstanding voting securities
of the surviving entity after the transaction.

          
1.6.2   Treatment of Warrant at Acquisition.

A)  
Upon the written request of the Company, Holder agrees that, in the
event of an Acquisition that is not an asset sale and in which the
sole consideration is cash, either (a) Holder shall exercise its
conversion or purchase right under this Warrant and such exercise
will be deemed effective immediately prior to the consummation of
such Acquisition or (b) if Holder elects not to exercise the
Warrant, this Warrant will expire upon the consummation of such
Acquisition. The Company shall provide the Holder with written notice
of its request relating to the foregoing (together with such
reasonable information as the Holder may request in connection with
such contemplated Acquisition giving rise to such notice), which is
to be delivered to Holder not less than ten (10) days prior to
the closing of the proposed Acquisition.

B)  
Upon the written request of the Company, Holder agrees that, in the
event of an Acquisition that is an “arms length” sale of
all or substantially all of the Company’s assets (and only its
assets) to a third party that is not an Affiliate (as defined below)
of the Company (a “True Asset Sale”), either
(a) Holder shall exercise its conversion or purchase right under
this Warrant and such exercise will be deemed effective immediately
prior to the consummation of such Acquisition or (b) if Holder
elects not to exercise the Warrant, this Warrant will continue until
the Expiration Date if the Company continues as a going concern
following the closing of any such True Asset Sale. The Company shall
provide the Holder with written notice of its request relating to the
foregoing (together with such reasonable information as the Holder
may request in connection with such contemplated Acquisition giving
rise to such notice), which is to be delivered to Holder not less
than ten (10) days prior to the closing of the proposed
Acquisition.

C)  
Upon the closing of any Acquisition other than those particularly
described in subsections (A) and (B) above, the successor entity
shall assume the obligations of this Warrant, and this Warrant shall
be exercisable for the same securities, cash, and property as would
be payable for the Shares issuable upon exercise of the unexercised
portion of this Warrant as if such Shares were outstanding on the
record date for the Acquisition and subsequent closing. The Warrant
Price and/or number of Shares shall be adjusted accordingly.

As used
herein “Affiliate” shall mean any person or entity
that owns or controls directly or indirectly ten (10) percent or
more of the stock of Company, any person or entity that
controls or is controlled by or is under common control with such
persons or entities, and each of such person’s or entity’s
officers, directors, joint venturers or partners, as applicable.

ARTICLE 2.  ADJUSTMENTS
TO THE SHARES.

2

 

     
2.1 Stock Dividends, Splits, Etc. If the Company
declares or pays a dividend on the Shares payable in common
stock, or other securities, then upon exercise of this Warrant,
for each Share acquired, Holder shall receive, without cost to
Holder, the total number and kind of securities to which Holder
would have been entitled had Holder owned the Shares of record
as of the date the dividend occurred. If the Company subdivides
the Shares by reclassification or otherwise into a greater
number of shares or takes any other action which increase the
amount of stock into which the Shares are convertible, the
number of shares purchasable hereunder shall be proportionally
increased and the Warrant Price shall be proportionally
decreased. If the outstanding shares are combined or
consolidated, by reclassification or otherwise, into a lesser
number of shares, the Warrant Price shall be proportionately
increased and the number of Shares shall be proportionately
decreased.

     
2.2 Reclassification, Exchange, Combinations or
Substitution. Upon any reclassification, exchange,
substitution, or other event that results in a change of the
number and/or class of the securities issuable upon exercise or
conversion of this Warrant, Holder shall be entitled to receive,
upon exercise or conversion of this Warrant, the number and kind
of securities and property that Holder would have received for
the Shares if this Warrant had been exercised immediately before
such reclassification, exchange, substitution or other event.
Such an event shall include any automatic conversion of the
outstanding or issuable securities of the Company of the same
class or series as the Shares to common stock pursuant to the
terms of the Company’s Articles or Certificate (as
applicable) of Incorporation upon the closing of a registered
public offering of the Company’s common stock. The Company
or its successor shall promptly issue to Holder an amendment to
this Warrant setting forth the number and kind of such new
securities or other property issuable upon exercise or
conversion of this Warrant as a result of such reclassification,
exchange, substitution or other event that results in a change
of the number and/or class of securities issuable upon exercise
or conversion of this Warrant. The amendment to this Warrant
shall provide for adjustments which shall be as nearly equivalent as may be
practicable to the adjustments provided for in this Article 2 including, without
limitation, adjustments to the Warrant Price and to the number
of securities or property issuable upon exercise of the new
Warrant. The provisions of this Article 2.2 shall similarly
apply to successive reclassifications, exchanges, substitutions,
or other events.

     
2.3 Adjustments for Diluting Issuances. The Warrant
Price and the number of Shares issuable upon exercise of this
Warrant or, if the Shares are Preferred Stock, the number of
shares of common stock issuable upon conversion of the Shares,
shall be subject to adjustment, from time to time in the manner
set forth in the Company’s Articles or Certificate of
Incorporation as if the Shares were issued and outstanding on
and as of the date of any such required adjustment. The
provisions set forth for the Shares in the Company’s
Articles or Certificate (as applicable) of Incorporation
relating to the above in effect as of the Issue Date may not be
amended, modified or waived, without the prior written consent of
Holder unless such amendment, modification or waiver affects the
rights associated with the Shares in the same manner as such
amendment, modification or waiver affects the rights associated
with all other shares of the same series and class as the Shares
granted to the Holder.

     
2.4 No Impairment. The Company shall not, by
amendment of its Articles or Certificate (as applicable) of
Incorporation or through a reorganization, transfer of assets,
consolidation, merger, 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 to be observed or
performed under this Warrant by the Company, but shall at all
times in good faith assist in carrying out of all the provisions
of this Article 2 and in taking all such action as may be
necessary or appropriate to protect Holder’s rights under
this Article against impairment.

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

3

 

          
2.6 Certificate as to Adjustments. Upon each
adjustment of the Warrant Price, the Company shall promptly
notify Holder in writing, and, at the Company’s expense,
promptly compute such adjustment, and furnish Holder with a
certificate of its Chief Financial Officer setting forth such
adjustment and the facts upon which such adjustment is based.
The Company shall, upon written request, furnish Holder a
certificate setting forth the Warrant Price in effect upon the
date thereof and the series of adjustments leading to such
Warrant Price.

ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE
COMPANY.

          
3.1 Representations and Warranties. The Company
represents and warrants to the Holder as follows:

               
(a) The initial Warrant Price referenced on the first page
of this Warrant is not greater than (i) the price per share
at which the Shares were last issued in an arms-length
transaction in which at least $500,000 of the Shares were sold
and (ii) the fair market value of the Shares as of the date
of this Warrant.

               
(b) All Shares which may be issued upon the exercise of the
purchase right represented by this Warrant, and all securities,
if any, issuable upon conversion of the Shares, shall, upon
issuance, be duly authorized, validly issued, fully paid and
nonassessable, and free of any liens and encumbrances except
for restrictions on transfer provided for herein or under
applicable federal and state securities laws.

               
(c) The Capitalization Table previously provided to Holder
remains true and complete as of the Issue Date.

          
3.2 Notice of Certain Events. If the Company
proposes at any time (a) to declare any dividend or
distribution upon any of its stock, whether in cash, property,
stock or other securities and whether or not a regular cash
dividend; (b) to offer for sale additional shares of any
class of stock in a private equity round of financing (which
shall not include issuances of stock options, warrants or
convertible debt instruments); (c) to effect any
reclassification or recapitalization of any of its stock;
(d) to merge or consolidate with or into any other
corporation, or sell, lease, license, or convey all or
substantially all of its assets, or to liquidate, dissolve or
wind up; or (e) offer holders of registration rights the
opportunity to participate in an underwritten public offering of
the company’s securities for cash, then, in connection with
each such event, the Company shall give Holder: (1) at
least 10 days prior written notice of the date on which a
record will be taken for such dividend, distribution, or
subscription rights (and specifying the date on which the
holders of common stock will be entitled thereto) or for
determining rights to vote, if any, in respect of the matters
referred to in (c) and (d) above; (2) in the case
of the matters referred to in (c) and (d) above at
least 10 days prior written notice of the date when the
same will take place (and specifying the date on which the
holders of common stock will be entitled to exchange their
common stock for securities or other property deliverable upon
the occurrence of such event); and (3) in the case of the
matter referred to in (e) above, the same notice as is
given to the holders of such registration rights.

          
3.3 Registration Under Securities Act of 1933, as
amended. The Company agrees that the Shares or, if the
Shares are convertible into common stock of the Company, such
common stock, shall have certain incidental, or
“Piggyback,” registration rights pursuant to and as
set forth in the Company’s Investor Rights Agreement or
similar agreement. The provisions set forth in the Company’s
Investors’ Right Agreement or similar agreement relating to
the above in effect as of the Issue Date may not be amended,
modified or waived without the prior written consent of Holder
unless such amendment, modification or waiver affects the rights
associated with the Shares in the same manner as such amendment,
modification, or waiver affects the rights associated with all
other shares of the same series and class as the Shares granted
to the Holder.

 

     
3.4     No Shareholder Rights.
Except as provided in this Warrant, the Holder will not have any
rights as a shareholder of the Company until the exercise of
this Warrant.

ARTICLE 4.     REPRESENTATIONS.
WARRANTIES OF THE HOLDER. The Holder represents and warrants
to the Company as follows:

     
4.1     Purchase for Own
Account. This Warrant and the securities to be acquired upon
exercise of this Warrant by the Holder will be acquired for
investment for the Holder’s account, not as a nominee or
agent, and not with a view to the public resale or distribution
within the meaning of the Act. Holder also represents that the
Holder has not been formed for the specific purpose of acquiring
this Warrant or the Shares.

     
4.2     Disclosure of
Information. The Holder has received or has had full access
to all the information it considers necessary or appropriate to
make an informed investment decision with respect to the
acquisition of this Warrant and its underlying securities. The
Holder further has had an opportunity to ask questions and
receive answers from the Company regarding the terms and
conditions of the offering of this Warrant and its underlying
securities and to obtain additional information (to the extent
the Company possessed such information or could acquire it
without unreasonable effort or expense) necessary to verify any
information furnished to the Holder or to which the Holder has
access.

     
4.3     Investment Experience.
The Holder understands that the purchase of this Warrant and its
underlying securities involves substantial risk. The Holder has
experience as an investor in securities of companies in the
development stage and acknowledges that the Holder can bear the
economic risk of such Holder’s investment in this Warrant
and its underlying securities and has such knowledge and
experience in financial or business matters that the Holder is
capable of evaluating the merits and risks of its investment in
this Warrant and its underlying securities and/or has a
preexisting personal or business relationship with the Company
and certain of its officers, directors or controlling persons of
a nature and duration that enables the Holder to be aware of the
character, business acumen and financial circumstances of such
persons.

     
4.4     Accredited Investor
Status. The Holder is an “accredited investor”
within the meaning of Regulation D promulgated under the
Act.

     
4.5     The Act. The Holder
understands that this Warrant and the Shares issuable upon
exercise or conversion hereof have not been registered under the
Act in reliance upon a specific exemption therefrom, which
exemption depends upon, among other things, the bona fide nature
of the Holder’s investment intent as expressed herein. The
Holder understands that this Warrant and the Shares issued upon
any exercise or conversion hereof must be held indefinitely
unless subsequently registered under the 1933 Act and qualified
under applicable state securities laws, or unless exemption from
such registration and qualification are otherwise available.

ARTICLE 5.     MISCELLANEOUS.

     
5.1     Term: This Warrant is
exercisable in whole or in part at any time and from time to
time on or before the Expiration Date.

     
5.2     Legends. This Warrant
and the Shares (and the securities issuable, directly or
indirectly, upon conversion of the Shares, if any) shall be
imprinted with a legend in substantially the following form:

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT

BEEN REGISTERED UNDER THE ACT, OR THE SECURITIES LAWS OF ANY

5

 

	 	 
	 	STATE AND, EXCEPT AND PURSUANT TO THE PROVISIONS OF
ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED
UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION
OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF
THESE SECURITIES. SUCH OFFER, SALE OR TRANSFER, PLEDGE OR
HYPOTHECATION IS EXEMPT FROM REGISTRATION.

     
5.3   Compliance with Securities Laws on Transfer. This
Warrant and the Shares issuable upon exercise of this Warrant (and
the securities issuable, directly or indirectly, upon conversion of
the Shares, if any) may not be transferred or assigned in whole or in
part without compliance with applicable federal and state securities
laws by the transferor and the transferee (including, without
limitation, the delivery of investment representation letters and
legal opinions reasonably satisfactory to the Company, as reasonably
requested by the Company). The Company shall not require Holder to
provide an opinion of counsel if the transfer is to Silicon Valley
Bancshares (Holder’s parent company) or any other affiliate of
Holder. Additionally, the Company shall also not require an opinion of
counsel if there is no material question as to the availability of
current information as referenced in Rule 144(c), Holder
represents that it has complied with Rule 144(d) and (e) in
reasonable detail, the selling broker represents that it has complied
with Rule 144(f), and the Company is provided with a copy of
Holder’s notice of proposed sale.

     
5.4   Transfer Procedure. Upon receipt by Holder of the
executed Warrant, Holder will transfer all of this Warrant to Silicon
Valley Bancshares, Holder’s parent company, by execution of an
Assignment substantially in the form of Appendix 2. Subject to
the provisions of Article 5.3 and upon providing Company with
written notice, Silicon Valley Bancshares and any subsequent Holder
may transfer all or part of this Warrant or the Shares issuable upon
exercise of this Warrant (or the Shares issuable directly or
indirectly, upon conversion of the Shares, if any) to any transferee,
provided, however, in connection with any such transfer, Silicon
Valley Bancshares or any subsequent Holder will give the Company
notice of the portion of the Warrant being transferred with the name,
address and taxpayer identification number of the transferee and
Holder will surrender this Warrant to the Company for reissuance to
the transferee(s) (and Holder if applicable). The Company may refuse
to transfer this Warrant or the Shares to any person who directly
competes with the Company, unless, in either case, the stock of the
Company is publicly traded.

     
5.5   Notices. All notices and other communications from
the Company to the Holder, or vice versa, shall be deemed delivered
and effective when given personally or mailed by first-class
registered or certified mail, postage prepaid, at such address as may
have been furnished to the Company or the Holder, as the case may
(or on the first business day after transmission by facsimile) be, in
writing by the Company or such holder from time to time. Effective
upon receipt of the fully executed Warrant and the initial transfer
described in Article 5.4 above, all notices to the Holder shall
be addressed as follows until the Company receives notice of a change
of address in connection with a transfer or otherwise:

Silicon Valley Bancshares

Attn: Treasury Department

3003 Tasman Drive, HA 200

Santa Clara, CA 95054

Telephone: 408-654-7400

Facsimile: 408-496-2405

     
Notice to the Company shall be addressed as follows until the Holder
receives notice of a change in address:

Alexza Molecular Deliver Corporation

	 	 	 
	Attn: 	Stacy
Palermini
	1001 E. Meadow Circle

6

 

			
	 	      	
    Palo Alto, CA 94303
    
	 	      	
    Telephone: (650) 687-3980
    

    
5.6     Waiver. This Warrant and any
term hereof may be changed, waived, discharged or terminated
only by an instrument in writing signed by the party against
which enforcement of such change, waiver, discharge or
termination is sought.

    
5.7     Attorney’s Fees. In the
event of any dispute between the parties concerning the terms
and provisions of this Warrant, the party prevailing in such
dispute shall be entitled to collect from the other party all
costs incurred in such dispute, including reasonable
attorney’s fees.

    
5.8     Automatic Conversion upon
Expiration. In the event that, upon the Expiration Date,
the fair market value of one Share (or other security issuable
upon the exercise hereof) as determined in accordance with
Section 1.3 above is greater than the Exercise Price in effect
on such date, then this Warrant shall automatically be deemed on
and as of such date to be converted pursuant to Section 1.2
above as to all Shares (or by such other securities) for which
it shall not previously have been exercised or converted, and the
Company shall promptly deliver a certificate representing the
Shares (or such other securities) issued upon such conversion to
the Holder.

    
5.9     Counterparts. This
Warrant may be executed in counterparts, all of which together
shall constitute one and the same agreement.

    
5.10   Governing Law. This Warrant
shall be governed by and construed in accordance with the laws
of the State of California, without giving effect to its
principles regarding conflicts of law.

		
	 	
    “COMPANY”
    
	 	
    Alexza Molecular Delivery Corporation,
    
	 	
    a Delaware Corporation
    
	 
	 	
    By: /s/ THOMAS B. KING
    
	 	
    

	 	
    Name: Thomas B. King
    
	 	
    

	 	

         (Print)
    

			
	 	Title: 	
    Chairman of the
Board, President
    

		
	 	
    or Vice
President

    
	 
	 	
    By: /s/ CAROL A. CHRISTOPHER
    
	 	
    

	 	
    Name: Carol A. Christopher
    
	 	
    

	 	

         (Print)
    

			
	 	Title: 	
    Chief Financial Officer, Secretary,
    

		
	 	
    Assistant Treasurer
or Assistant Secretary

    
	 
	 	
    “HOLDER”
    
	 	
    Silicon Valley Bank
    
	 
	 	
    By: /s/ MERCY FORDE
    
	 	
    

	 	
    Name: Mercy Forde
    
	 	
    

	 	
                 
    

			
	 	Title: 	
    Vice President
    

		
	 	
    Warrant Effective Date: 9/19/03
    

7

 

APPENDIX 1

NOTICE OF EXERCISE

     
1. Holder elects to purchase                      shares of
 the Common/Series            Preferred [strike one] Stock of xx pursuant to the terms of the attached Warrant, and tenders payment of the purchase price of the shares in full.

          
[or]

     
1. Holder elects to convert the attached Warrant into
Shares/cash [strike one] in the manner specified in the
Warrant. This conversion is exercised for
                    
of the Shares covered by the Warrant.

     
[Strike paragraph that does not apply.]

     
2. Please issue a certificate or certificates representing
the shares in the name specified below;

 

Holders Name

 

 

(Address)

     
3. By its execution below and for the benefit of the
Company, Holder hereby restates each of the representations and
warranties in Article 4 of the Warrant as the date hereof.

		
	 	
    HOLDER:
	 
	 	
     

	 
	 	
    By:
	 	
     

	 
	 	
    Name:
	 	
     

	 
	 	
    Title:
	 	
     

	 
	 	
    (Date):
	 	
     

3

 

APPENDIX 2

ASSIGNMENT

For value received, Silicon Valley Bank hereby sells, assigns
and transfers unto

	 	 	 	 	 
	 	 	
    Name:	 	
    Silicon Valley Bancshares
	 	 	
    Address:	 	
    3003 Tasman Drive (HA-200)
	 	 	 	 	
    Santa Clara, CA 95054
	 
	 	 	
    Tax ID: 91-1962278

that certain Warrant to Purchase Stock issued by Alexza
Molecular Delivery Corporation, a Delaware corporation (the
“Company”), on the Effective Date (the
“Warrant”) together with all rights, title and
interest therein.

			
	 	
    SILICON VALLEY BANK
	 
	 	
    By:	 
	 	 	
     

	 
	 	
    Name:	 
	 	 	
     

	 
	 	Title:	 
	 	 	
     

Date: [insert Issue Date]

 

By its execution below, and for the benefit of the Company,
Silicon Valley Bancshares makes each of the representations and
warranties set forth in Article 4 of the Warrant as of the
date hereof.

			
	 	
    SILICON VALLEY BANCSHARES
	 
	 	
    By:	 
	 	 	
     

	 
	 	
    Name:	 
	 	 	
     

	 
	 	Title:	 
	 	 	
     

2

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