Document:

Securities Purchase Agreement

 EXHIBIT 10.1 
 EXHIBIT SECURITIES PURCHASE AGREEMENT 
 This Securities Purchase Agreement (this
“Agreement”) is dated as of June 12, 2008, by and among Oragenics, Inc, a Florida corporation (the “Company) and Mr. George T. Hawes (“Hawes”) and Mr. William F. Matlack
(“Matlack”) (each of Hawes and Matlack are referred to herein as a Purchaser and collectively as the “Purchasers”). 
 WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to applicable exemptions from registration under the Securities Act of 1933, the Company desires to issue and sell to each Purchaser, and each
Purchaser severally and not jointly, desires to purchase from the Company shares of Common Stock and Warrants to purchase shares of Common Stock as set forth herein. 
 NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the parties agree
as follows: 
 ARTICLE I 
 DEFINITIONS 
 Section 1.1. Definitions. In addition to the terms defined elsewhere in this Agreement, for all
purposes of this Agreement, the following terms have the meanings indicated in this Section 1.1: 
 “Action” shall have
the meaning ascribed to such term in Section 3.1(j). 
 “Affiliate” means any Person that, directly or indirectly
through one or more intermediaries, controls or is controlled by or is under common control with a Person as such terms are used in and construed under Rule 144. With respect to a Purchaser, any investment fund or managed account that is managed on
a discretionary basis by the same investment manager as Purchaser will be deemed to be an Affiliate of Purchaser. 
 “Business
Day” means any day except Saturday, Sunday and any day which shall be a federal legal holiday or a day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close.

 “Closing” means the closing of the purchase and sale of the Shares and the Warrants pursuant to Section 2.1.

 “Closing Date” means the date of the Closing. 
 “Commission” means the Securities and Exchange Commission. 
 “Common Stock” means the common stock of the Company, $0.001 par value per share, and any securities into which such common stock may
hereafter be reclassified. 
  

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 “Disclosures” means the Disclosure Schedules, if any, attached as Annex I
hereto. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Fair Market Value” means the average closing price for the shares of the Common Stock on the American Stock Exchange or other
principal securities trading market for the Common Stock over the last twenty (20) trading days immediately prior to the date of determination or if actively traded over-the-counter, the average of the closing bid prices over the last twenty
(20) trading days immediately prior to the date of determination. 
 “Intellectual Property Rights” shall have the
meaning ascribed to such term in Section 3.1(o). 
 “Liens” means a lien, charge, security interest, encumbrance,
right of first refusal or other restriction. 
 “Material Adverse Effect” shall have the meaning ascribed to such term in
Section 3.1(b). 
 “Material Permits” shall have the meaning ascribed to such term in Section 3.1(m). 

“Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association, joint venture, limited
liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. 
 “Purchase
Price” means, as to Purchaser and the Closing, the amounts set forth below Purchaser’s signature block on the signature page hereto, in United States dollars and in immediately available funds. This amount is $0.45 per share of Common
Stock up to 5,777,778 shares of Common Stock. 
 “Registration Rights Agreement” means the Registration Rights Agreement,
dated as of August 7, 2007 among the Company and the Parties thereto including the Purchasers. 
 “Registration
Statement” means a registration statement meeting the requirements set forth in the Registration Rights Agreement and covering the resale by the Purchasers of the Shares and the Warrant Shares. 
 “Rights of First Refusal” shall have the meaning ascribed to such term in Section 4.3. 
 “Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time,
or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “SEC
Reports” shall have the meaning ascribed to such term in Section 3.1(h). 
  

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 “Securities” means the Shares, the Warrants and the Warrant Shares. 
 “Securities Act” means the Securities Act of 1933, as amended. 
 “Shares” means the aggregate up to 5,777,778 shares of Common Stock, of which are being issued and sold by the Company to the
Purchasers at the Closing. 
 “Transaction Documents” means this Agreement, the Registration Rights Agreement, the Warrant
and any other documents or written agreements executed by the Company and the Purchasers in connection with the transactions contemplated hereunder. 
 “Warrants” means the aggregate of up to 5,777,778 Common Stock purchase warrants, in the form of Exhibit A, to be issued to the Purchasers at the Closing Date and the warrants, subject
to the other provisions hereof, shall immediately be exerciseable at an exercise price of $1.30 per share (as adjusted to reflect any stock dividend, split, dividends, reclassifications, combination merger, recapitalization or similar restructuring)
and shall terminate if not exercised on or before the fifth anniversary of the Closing Date, provided however, the form of warrant that is issued by the Company to Mr. George Hawes, given his substantial percentage ownership interest in the
Company, would contain additional language as follows: 
 Notwithstanding anything in the Securities Purchase Agreement or this Warrant to the
contrary, so long as the Company is listed on the American Stock Exchange (“Amex”), the initial holder of the Warrant, Mr. George Hawes (or any subsequent holder of the Warrant pursuant to which Mr. Hawes would disclaim
beneficial ownership), shall be precluded from exercising this Warrant to the extent that either (i) Mr. Hawes possess direct share ownership in the Company of common stock exceeding 33.33% of the outstanding shares, or (ii) Mr.
Hawes otherwise asserts direct control of the Company as interpreted under Amex rules (e.g. takes a position as Chairman of the Company), without first obtaining shareholder approval of the acquisition of shares of common stock that
would cause his common stock percentage ownership to exceed 33.33% or of any direct assertion of control by Mr. Hawes as interpreted by Amex rules.
 “Warrant Shares” means the shares of Common Stock issuable upon exercise of the Warrants. 
 ARTICLE II 
 PURCHASE AND SALE 
 Section 2.1. Purchase and Sale of Securities and Closing. At the Closing, Purchasers shall purchase, severally and not jointly, and the Company shall issue and sell to the Purchasers up to 5,777,778 shares
of Common Stock and Warrants to purchase up to 5,777,778 shares of Common Stock as set forth opposite Purchaser’s name on the signature page hereto for an aggregate purchase price of up to $2,600,000 USD. The Closing shall occur on or before
June 12, 2008 at the offices of Shumaker, Loop & Kendrick, LLP, 101 Kennedy Boulevard, Suite 2800, Tampa, Florida 33602-5151, or such other time and/or location as the parties shall mutually agree. 
  

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 Section 2.2. Closing Conditions. 
 (a) At the Closing the Company shall be obligated to deliver or cause to be delivered to each Purchaser: 
 (i) one or more stock certificates in the name of such Purchaser evidencing such number of Shares set forth opposite such Purchaser’s name on the
signature page hereto; 
 (ii) a warrant certificate, registered in the name of such Purchaser, pursuant to which such Purchaser shall have
the right to acquire up to the number of Warrant Shares set forth opposite such Purchaser’s name on the signature page hereto; 
 (iii)
Hawes shall be reimbursed by the Company for all out-of-pocket expenses up to $100,000 incurred with respect to due diligence and previous and current financings with the Company. 
 (b) At the Closing Purchaser shall deliver or cause to be delivered to the Company the following: 
 (i) Purchaser’s portion of the Purchase Price by wire transfer to the account of the Company as provided to the Purchasers in writing prior to the
Closing Date; and 
 (ii) A duly executed signature page to this Agreement. 
 (c) All representations and warranties of the other party contained herein shall remain true and correct as of the Closing Date (except for
representations and warranties that speak as of a specific date, which representations and warranties must be correct as of such date), all necessary consents and waivers of third parties shall have been obtained and each party shall have performed
and complied in all material respects with the covenants and conditions required by this Agreement to be performed or complied with by the party at or prior to the Closing. 
 ARTICLE III 
 REPRESENTATIONS AND WARRANTIES 
 Section 3.1. Representations and Warranties of the Company. Except as set forth in the SEC Reports or under the corresponding section of the
Disclosure Schedules delivered concurrently herewith, the Company makes the following representations and warranties as of the date hereof and as of the Closing Date to Purchaser: 
 (a) Subsidiaries. Except for IviGene Inc., which the Company is in the process of dissolving, the Company has no direct or indirect Subsidiaries.

  

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 (b) Organization and Qualification. The Company is an entity duly incorporated or otherwise
organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization (as applicable), with the requisite corporate power and authority to own and use its properties and assets and to carry on its
business as currently conducted. The Company is not in violation of any of the provisions of its certificate or articles of incorporation, bylaws or other organizational or charter documents. The Company is duly qualified to conduct business and is
in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing,
as the case may be, would not have or reasonably be expected to result in (i) a material adverse effect on the legality, validity or enforceability of any Transaction Document, (ii) a material adverse effect on the results of operations,
assets, prospects, business or condition (financial or otherwise) of the Company, taken as a whole, or (iii) adversely impair the Company’s ability to perform fully on a timely basis its obligations under any Transaction Document (any of
(i), (ii) or (iii), a “Material Adverse Effect”). 
 (c) Authorization; Enforcement. The Company has the
requisite corporate power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations hereunder and thereunder. The execution and delivery of each of the
Transaction Documents by the Company and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary action on the part of the Company and no further consent or action is required by the
Company, its Board of Directors or its stockholders. Each Transaction Document has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof, will constitute the valid and binding
obligation of the Company, enforceable against the Company in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and
contribution provisions may be limited by applicable law. 
 (d) No Conflicts. The execution, delivery and performance of the
Transaction Documents by the Company and the consummation by the Company of the transactions contemplated hereby and thereby do not and will not (i) conflict with or violate any provision of the Company’s certificate or articles of
incorporation, bylaws or other organizational or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of
termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company debt or otherwise) or other understanding to which the Company is
a party or by which any property or asset of the Company is bound or affected, or (iii) result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which
the Company is subject (including federal and state securities laws and regulations), or by which any property or asset of the Company is bound or affected; except in the case of each of clauses (ii) and (iii), such as would not have or
reasonably be expected to result in a Material Adverse Effect. 
  

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 (e) Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver,
authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection with the execution, delivery and performance by the
Company of the Transaction Documents, other than (a) the filing with the Commission of the Registration Statement, the application(s) to each Trading Market for the listing of the Shares and Warrant Shares for trading thereon in the time and
manner required thereby, and applicable Blue Sky filings, (b) such as have already been obtained or such exemptive filings as are required to be made under applicable securities laws, and (c) such other filings as may be required following
the Closing Date under the Securities Act, the Exchange Act and corporate law. 
 (f) Issuance of the Securities. The Securities are
duly authorized and, the Shares and Warrant Shares, when issued and paid for in accordance with the Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens and shall not be subject to
preemptive rights or similar rights of stockholders. The Company has reserved from its duly authorized capital stock the maximum number of shares of Common Stock issuable pursuant to this Agreement and the Warrants. 
 (g) Capitalization. The number of shares and type of all authorized, issued and outstanding capital stock, options and other securities of the
Company (whether or not presently convertible into or exercisable or exchangeable for shares of capital stock of the Company) is as set forth in the SEC Reports. All outstanding shares of capital stock are duly authorized, validly issued, fully paid
and nonassessable and have been issued in compliance with all applicable securities laws. Except as disclosed in the SEC Reports, there are no outstanding options, warrants, script rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities, rights or obligations convertible into or exercisable or exchangeable for, or giving any Person any right to subscribe for or acquire, any shares of Common Stock, or contracts, commitments, understandings or
arrangements by which the Company is or may become bound to issue additional shares of Common Stock, or securities or rights convertible or exchangeable into shares of Common Stock except the Fusion Capital Stock Purchase Agreement and the Objective
Equity Advisory Agreement. Except as set forth in the SEC Reports, there are no anti-dilution or price adjustment provisions contained in any security issued by the Company (or in any agreement providing rights to security holders) and the issue and
sale of the Company Securities will not obligate the Company to issue shares of Common Stock or other securities to any Person (other than the Purchasers) and will not result in a right of any holder of Company securities to adjust the exercise,
conversion, exchange or reset price under such securities. 
 (h) SEC Reports; Financial Statements. 
 (i) The Company has filed all reports required to be filed by it under the Securities Act and the Exchange Act, including pursuant to Section 13(a)
or 15(d) of the Exchange Act, for the two years preceding the date hereof (or such shorter period as the Company was required by law to file such material) (the foregoing materials, including the exhibits thereto (together with any materials filed
by the Company under the Exchange Act, whether or not required), being collectively referred to herein as the “SEC Reports” and, together with this Agreement and the Disclosure Schedules to this Agreement, the
“Disclosure  

  

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Materials”) on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration
of any such extension. True and complete copies of the SEC Reports are available at www.sec.gov. 
 (ii) As of their respective dates, the
SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act and the rules and regulations of the Commission promulgated thereunder, as applicable, and none of the SEC Reports, when filed, contained
any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

(iii) The financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and
the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such financial statements have been prepared in accordance with generally accepted accounting principles applied on a consistent basis during the
periods involved (“GAAP”), except as may be otherwise specified in such financial statements or the notes thereto and except that unaudited financial statements may not contain all footnotes required by GAAP or may be condensed or
summary statements, and fairly present in all material respects the financial position of the Company and its consolidated subsidiaries as of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject,
in the case of unaudited statements, to normal, immaterial, year-end audit adjustments. 
 (iv) All material agreements to which the Company
is a party or to which the property or assets of the Company are subject are included as part of or specifically identified in the SEC Reports. Other than the material contracts listed in the SEC Reports, as otherwise provided to the Purchasers, or
an employment agreement with David Hirsch and consulting agreement with Marc Siegel, the Company has no material contracts. Except as set forth in the SEC Reports, the Company is not in breach or violation of any material contract, which breach or
violation would have a Material Adverse Effect. 
 (i) Absence of Material Changes. Since the date of the latest audited financial
statements included within the SEC Reports, except as disclosed in the SEC Reports, (i) there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the
Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be
reflected in the Company’s financial statements pursuant to GAAP or required to be disclosed in filings made with the Commission, (iii) the Company has not altered its method of accounting or the identity of its auditors, (iv) the
Company has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to purchase or redeem any shares of its capital stock and (v) the Company has not issued
any equity securities to any officer, director or Affiliate, except pursuant to existing Company stock option plans and agreements. 
 (j)
Litigation. Except as disclosed in the SEC Reports, there is no action, suit, inquiry, notice of violation, proceeding or investigation pending or, to the knowledge of the 

  

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Company, threatened against or affecting the Company, or its properties before or by any court, arbitrator, governmental or administrative agency or
regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”) which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the
Securities or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse Effect. 
 (k) Labor Relations. The Company is not involved in any material union labor dispute nor, to the knowledge of the Company, is any such dispute threatened. The Company believes that their relations with their employees are good. No
executive officer (as defined in Rule 501(f) of the Securities Act) has notified the Company that such officer intends to leave the Company or otherwise terminate such officer’s employment with the Company. The Company is in compliance with all
federal, state, local and foreign laws and regulations respecting employment and employment practices, terms and conditions of employment and wages and hours, except where failure to be in compliance would not, either individually or in the
aggregate, result in a Material Adverse Effect. 
 (l) Compliance. Except as disclosed in the SEC Reports, the Company (i) is
not in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company received notice of a claim
that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound (whether or not such default or violation
has been waived), (ii) is not in violation of any order of any court, arbitrator or governmental body, or (iii) is not or has been in violation of any statute, rule or regulation of any governmental authority, including without limitation
all foreign, federal, state and local laws applicable to its business, except in the case of clauses (i), (ii) and (iii) as would not have or reasonably be expected to result in a Material Adverse Effect. 
 (m) Regulatory Permits. The Company possesses all certificates, authorizations and permits issued by the appropriate federal, state, local or
foreign regulatory authorities necessary to conduct its current business as described in the SEC Reports, except where the failure to possess such permits would not have or reasonably be expected to result in a Material Adverse Effect
(“Material Permits”), and the Company has not received any notice of proceedings relating to the revocation or modification of any Material Permit. 
 (n) Title to Assets. The Company has good and marketable title in fee simple to all real property owned by it and good and marketable title in all personal property owned by it, in each case free and clear of
all Liens, except for Liens as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such property by the Company and Liens for the payment of federal, state or other taxes,
the payment of which is neither delinquent nor subject to penalties. To the knowledge of the Company, any real property and facilities held under lease by the Company are held by it under valid, subsisting and enforceable leases with which the
Company is in material compliance. 
 (o) Patents and Trademarks. The Company has, or has rights to use, all patents, patent
applications, trademarks, trademark applications, service marks, trade names, 

  

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copyrights, licenses and other similar rights that are necessary or material for use in connection with their respective businesses as described in the SEC
Reports and which the failure to so have could have or reasonably be expected to result in a Material Adverse Effect (collectively, the “Intellectual Property Rights”). Except as disclosed in its SEC Reports, the Company has not
received a written notice that the Intellectual Property Rights used by the Company violates or infringes the rights of any Person. To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is no existing
infringement by another Person of any of the Intellectual Property Rights. 
 (p) Insurance. The Company is insured by insurers of
recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which the Company is engaged. The Company has no reason to believe that it will not be able to renew its existing
insurance coverage as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business. 
 (q) Transactions With Affiliates and Employees. Except as set forth in the SEC Reports, and except the employment agreement with David Hirsch (an employee) and the consulting agreement with Marc Siegel, a
director, none of the officers or directors of the Company and, to the knowledge of the Company, none of the employees of the Company is presently a party to any transaction with the Company (other than for services as employees, officers and
directors), including any contract, agreement or other arrangement providing for the furnishing of services to or by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director or
such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial interest or is an officer, director, trustee or partner. 
 (r) Certain Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker, financial advisor or
consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by this Agreement. 
 (s) Private Placement. Assuming the accuracy of the Purchasers representations and warranties set forth in Section 3.2 and assuming no unlawful distribution of the Securities by the Purchasers, no registration under the
Securities Act is required for the offer and sale of the Securities by the Company to the Purchasers as contemplated hereby. The issuance and sale of the Securities hereunder does not contravene the rules and regulations of the American Stock
Exchange. Neither the Company nor any Person acting on the Company’s behalf has sold or offered to sell or solicited any offer to buy the Securities by means of any form of general solicitation or advertising. The Company has offered the Shares
for sale only to the Purchasers. 
 (t) Registration Rights. Except as described in the SEC Reports and except for the Purchasers, no
Person has any right to cause the Company to effect the registration under the Securities Act of any securities of the Company. 
  

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 (u) Listing and Maintenance Requirements. The Company’s Common Stock is registered pursuant
to Section 12(b) of the Exchange Act and listed on the American Stock Exchange (“AMEX”). On May 14, 2008, the Company received notification from AMEX that we were not in compliance with AMEX’s continued listing requirements
because the Company’s shareholders’ equity is less than $4,000,000 and the Company has experienced losses from continuing operations and/or net losses in two of our most recent fiscal years. The Company submitted a plan on June 10,
2008 to AMEX for regaining compliance with the continued listing standards. 
 (v) Disclosure. All disclosure provided to the
Purchasers regarding the Company, its business and the transactions contemplated hereby, including the Disclosure Schedules to this Agreement, furnished by or on behalf of the Company are true and correct and do not contain any untrue statement of a
material fact or omit to state any material fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading. No event or circumstance has occurred or information exists with
respect to the Company or its business, properties, prospects, operations or condition (financial or otherwise), which, under applicable law, rule or regulation, requires public disclosure or announcement by the Company but which has not been so
publicly announced or disclosed. 
 (w) Taxes. Except for matters that would not, individually or in the aggregate, have or
reasonably be expected to result in a Material Adverse Effect, the Company has filed all necessary federal, state and foreign income and franchise tax returns and has paid or accrued all taxes shown as due thereon, and the Company has no knowledge
of a tax deficiency which has been asserted or threatened against the Company. 
 Purchaser acknowledges and agrees that the Company does
not make or has not made any representations or warranties with respect to the transactions contemplated hereby other than those specifically set forth in this Section 3.1. 
 Section 3.2 Representations and Warranties of the Purchasers. Each Purchaser hereby, for itself and for no other Purchaser, represents and
warrants as of the date hereof and as of the Closing Date to the Company as follows: 
 (a) Organization; Authority. Each Purchaser is
either a person or an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization with full right, corporate or partnership power and authority to enter into and to consummate the transactions
contemplated by the Transaction Documents and otherwise to carry out its obligations thereunder. The execution, delivery and performance by such Purchaser of the transactions contemplated by this Agreement have been duly authorized by all necessary
corporate or similar action on the part of such Purchaser. Each Transaction Document to which it is a party has been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with the terms hereof, will constitute the valid
and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms, except (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of
general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification
and contribution provisions may be limited by applicable law. 
  

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 (b) Purchase for Own Account. Each Purchaser is acquiring the Securities as principal for its own
account and not with a view to or for distributing or reselling such Securities or any part thereof, without prejudice, however, to such Purchaser’s right, subject to the provisions of this Agreement, at all times to sell or otherwise dispose
of all or any part of such Securities pursuant to an effective registration statement under the Securities Act or under an exemption from such registration and in compliance with applicable federal and state securities laws. Such Purchaser is
acquiring the Securities hereunder in the ordinary course of its business. Purchaser does not have any agreement or understanding, directly or indirectly, with any Person to distribute any of the Securities. 
 (c) Purchaser Status. At the time such Purchaser was offered the Securities, it was, and at the date hereof it is an “accredited
investor” as defined in Rule 501(a) under the Securities Act. Such Purchaser is not required to be registered as a broker-dealer under Section 15 of the Exchange Act. 
 (d) Experience of Purchaser. Such Purchaser has such knowledge, sophistication and experience in business and financial matters so as to be
capable of evaluating the merits and risks of the prospective investment in the Securities, and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk of an investment in the Securities and, at the
present time, is able to afford a complete loss of such investment. 
 (e) Reliance on Exemptions. Each Purchaser understands that
the Securities are being offered and sold to it in reliance upon specific exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying upon the truth and accuracy of, and such
Purchaser’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of such Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to
acquire the Securities. 
 (f) Information. Purchaser is an existing shareholder of the Company and has been a shareholder of the
Company for several years. Purchaser and its advisors, if any, have been furnished with all materials relating to the business, finances and operations of the Company including, without limitation, the Company’s most recent SEC Reports, that
have been requested by such Purchaser or its advisors, if any. Each Purchaser has been afforded the opportunity to ask questions of the Company and receive answers from the Company. Each Purchaser has requested, received and considered all
information it deems relevant to make an informed decision to purchase the Securities. The Purchaser acknowledges and understands that its investment in the Securities involves a significant degree of risk. 
 (g) Governmental Review. Such Purchaser understands that no United States federal or state agency or any other government or governmental agency
has passed upon or made any recommendation or endorsement of the Securities or an investment therein. 
  

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 (h) Residency. Such Purchaser is a resident of (or, if an entity, has its principal place of
business in) the jurisdiction set forth immediately below Purchaser’s name on the signature pages hereto. 
 (i) Certain Fees.
No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by
this Agreement, and the Company has not taken any action that would cause any Purchaser to be liable for any such fees or commissions. 
 (j) Short Sales. Such Purchaser has not directly or indirectly, nor has any Person acting on behalf of or pursuant to any understanding with such Purchaser, executed any Short Sales or granted any option for the purchase of or
entered into any hedging or similar transaction with the same economic effect as a Short Sale, in the securities of the Company since the time period beginning two weeks prior to the time that such Purchaser was first contacted regarding an
investment in the Company (“Discussion Time”) through the date hereof. During such period, neither Purchaser nor any Person acting on behalf of or pursuant to any understanding with Purchaser, has taken, directly or indirectly, any
actions to trade in the Company’s Securities that might reasonably be expected to cause or result, under the Securities Act or Exchange Act, or otherwise, or that has constituted, stabilization or manipulation of the price of the Common Stock.
Additionally, Purchaser agrees to comply with Regulation M under the Exchange Act. 
 (k) No General Solicitation. Such Purchaser is
not purchasing the Securities as a result of any advertisement, article, notice or other communication regarding the Securities published in any newspaper, magazine or other media or broadcast over television or radio or presented at any seminar or
any other general solicitation or advertisement. 
 (l) Confidentiality. Other than to other Persons party to this Agreement,
Purchaser has maintained the confidentiality of all disclosures made to it in connection with this transaction (including the existence and terms of this transaction). 
 The Company acknowledges and agrees that Purchaser does not make or has not made any representations or warranties with respect to the transactions contemplated hereby other than those specifically set forth in this
Section 3.2. 
 ARTICLE IV 
 OTHER AGREEMENTS OF THE PARTIES 
 Section 4.1. Transfer Restrictions. 
 (a) The Securities may only be disposed of pursuant to an effective registration statement under the Securities Act or pursuant to an available exemption
from the registration requirements of the Securities Act, and in compliance with any applicable state securities laws. The Securities shall contain a restrictive legend in the following form: 
 THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE 

  

 12 

 
SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF
THE SECURITIES ACT. 
 (b) Purchaser, severally and not jointly, agrees that the removal of the restrictive legend from certificates
representing Securities as set forth in this Section 4.1 is expressly predicated upon the Purchaser’s covenant and agreement in this Section 4.1(b) that the Purchaser shall in all cases sell or otherwise transfer the Securities
pursuant to: (i) an effective registration statement under the Securities Act, in full compliance with all prospectus delivery requirements under the Securities Act and in accordance with the plan of distribution described in the prospectus
delivered by Purchaser, or (ii) an available exemption from registration under the Securities Act. 
 (c) Each Purchaser acknowledges
and agrees that for a period of six (6) months following the Closing Date, such Purchaser shall not sell any of the Company’s equity securities (i) in excess of 3% of the Company’s outstanding securities at any time or
(ii) in excess of 0.5% in the aggregate of the Company’s outstanding securities over any consecutive five business days, on a rolling basis (the “Lock-Up Period”). If, during the Lock-Up Period, the Company receives an offer to
buy or merge the Company and the Company’s board of directors supports such offer, the Lock-Up Period shall automatically expire and the Purchasers can sell or exchange their shares in accordance with such offer. In connection with the Lock-Up
Period the Securities shall also bear a lock-up legend in the following form: 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO
RESTRICTIONS ON SALE OR TRANSFER CONTAINED IN A SECURITIES PURCHASE AGREEMENT FOR A SIX MONTH LOCK-UP PERIOD. COPIES OF SUCH AGREEMENT MAY BE INSPECTED AT THE PRINCIPAL OFFICE OF THE COMPANY. 
 Section 4.2 Additional Securities Offerings. The Company agrees that until the earliest to occur of the following: (i) the second
anniversary of the Closing Date; or (ii) the date that the Fair Market Value of the Common Stock exceeds $2.00, the Company will not, without the prior consent of Hawes (which consent shall not be unreasonably withheld or delayed): 

(a) Issue debt securities that are convertible into any class of common or preferred stock of the Company; 
 (b) Issue any shares or series of preferred stock or any shares or classes of common stock with superior rights or preferences to the existing Common
Stock; or 
  

 13 

 (c) Pledge or otherwise grant any security interest or other encumbrance over any of its intellectual
property in connection with any loan or similar investment in the Company (for the avoidance of doubt, excluding without limitation, licenses, joint ventures and strategic alliances with operating companies, purchases and sales of assets, and
similar strategic investments in the best interest of the Company as determined by the Company’s Board of Directors). 
 Section 4.3 Rights of First Refusal. 
 (d) Each Purchaser acknowledges and agrees that Hawes has the right of first
refusal on future debt or equity financings by the Company, for up to two years from the Closing Date, excluding any equity issuances pursuant to the Company’s employee benefit awards plans or arrangements, for up to two (2) years from the
Closing Date and excluding any equity issuances related to joint venture or strategic alliance initiatives approved by the Company’s board of directors. 
 (e) To the extent the Company engages in discussions with any third parties with respect to such further debt or equity financings, the Company shall notify Hawes. Thereafter, Hawes shall reply to the Company in
writing and indicate whether or not he will match such financing at the price and on the terms specified in such notice of the additional financing offer, (i) in the case of financings of less than $3 million in aggregate, within three
(3) days after the Company receives an unconditional offer to finance from a qualified investor, and (ii) in the case of financings of $3 million or greater in aggregate, within three (3) days after receipt of any proposed term sheet
for such additional financing (which the Company shall forward to Hawes). 
 (f) To the extent Hawes elects to exercise his right of first
refusal, Hawes acknowledges and agrees that the costs and expenses reasonably incurred by the funding source with respect to such additional financing shall be borne by him. 
 (g) Notwithstanding Hawes’ refusal to exercise his right of first refusal with respect to any equity financing during such two (2) year
period, Hawes shall have the right to acquire such number of share or securities as necessary to maintain his percentage ownership in the Company immediately following the Closing (such percentage of ownership to be determined exclusive of the
Warrants acquired hereby) by participation in such equity financing at the same price and on the same terms as such additional equity financing during this two-year period. Hawes must exercise such right of participation within the time periods
specified in Section 4.3(b) above. 
 Section 4.4 Furnishing of Information. 
 (h) As long as any Purchaser owns Securities, the Company covenants to use its reasonable efforts to timely file (or obtain extensions in respect thereof
and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act. In addition, the Company shall use its reasonable efforts to take all actions necessary to meet the
“registrant eligibility” requirements set forth in the general instructions to Form S-3 or any successor form thereto, to continue to be eligible to register the resale of its Common Stock on a registration statement on Form S-3 under the
Securities Act. 
  

 14 

 (i) As long as Purchaser owns Securities, if the Company is not required to file reports pursuant to the
Exchange Act, it will prepare and furnish to the Purchasers and make publicly available in accordance with Rule 144 such information as is required for the Purchasers to sell the Securities under Rule 144. The Company further covenants that it will
take such further action as any holder of Securities may reasonably request, all to the extent required from time to time to enable such Person to sell such Securities without registration under the Securities Act within the limitation of the
exemptions provided by Rule 144. 
 (j) The Company shall ensure that each of the following reports are available at
www.sec.gov: (i) within ten days after the filing thereof with the SEC, a copy of its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q, its proxy statements and any Current Reports on Form 8-K; and (ii) within one day
after release, copies of all press releases issued by the Company or any of its Subsidiaries. 
 Section 4.5 Integration. The
Company shall not, and shall use its best efforts to ensure that no Affiliate thereof shall, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that
would be integrated with the offer or sale of the Securities in a manner that would require the registration under the Securities Act of the sale of the Securities to the Purchasers or that would be integrated with the offer or sale of the
Securities for purposes of the rules and regulations of any Trading Market such that it would require Shareholder approval prior to the closing of such other transaction unless Shareholder approval is obtained prior to the closing of such subsequent
transaction. 
 Section 4.6 Reservation of Common Stock. As of the date hereof, the Company has reserved and the Company shall
continue to reserve and keep available at all times, free of preemptive rights (except for those provided to Hawes herein), a sufficient number of shares of Common Stock for the purpose of enabling the Company to issue Shares pursuant to this
Agreement and Warrant Shares pursuant to the Warrants. 
 Section 4.7 Listing of Common Stock. The Company hereby agrees to use
its reasonable efforts to maintain the listing of the Common Stock on the Trading Market, and, unless completed prior to the Closing, to list the applicable Shares and Warrant Shares on AMEX as soon as reasonably practicable following the Closing
(but not later than the earlier of the Effective Date and the first anniversary of the Closing Date). The Company further agrees, if the Company applies to have the Common Stock traded on any other trading market, it will include in such application
the Shares and Warrant Shares, and will take such other action as is necessary or desirable in the opinion of the Purchasers to cause the Shares and Warrant Shares to be listed on such other trading market as promptly as possible. The Company will
take all action reasonably necessary to continue the listing and trading of its Common Stock on a trading market and will comply in all respects with the Company’s reporting, filing and other obligations under the bylaws or rules of the trading
market. 
  

 15 

 Section 4.8 Sales by Purchaser. Each Purchaser covenants to sell any Securities sold by it
in compliance with applicable prospectus delivery requirements, if any, or otherwise in compliance with the requirements for an exemption from registration under the Securities Act. No Purchaser will make any sale, transfer or other disposition of
the Securities in violation of federal or state securities laws. 
 Section 4.9 Piggyback Registration Rights. The parties
hereby acknowledge and agree that the Purchasers hereunder shall be entitled to the rights and benefits of the Registration Rights Agreement with respect to the Shares and Warrant Shares, and the Purchasers shall be bound to the terms thereof and be
considered parties thereto, provided however, that such rights shall be limited to the piggyback registration provisions of the Registration Rights Agreement and shall not include any demand registration rights. 
 ARTICLE V 
 MISCELLANEOUS

 Section 5.1. Termination. This Agreement may be terminated by the Company or, by written notice to the other parties, if
the Closing has not been consummated by the tenth Business Day following the date of this Agreement; provided that no such termination will affect the right of any party to sue for any breach by the other party (or parties). 
 Section 5.2. Fees and Expenses. Except as provided herein with respect to the reimbursement of Hawes’ out-of-pocket expenses, each
party shall pay the fees and expenses of its advisers, counsel, accountants and other experts, if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement. The
Company shall pay all stamp and other taxes and duties levied in connection with the sale of the Securities in the instant transaction. 
 Section 5.3. Entire Agreement. The Transaction Documents, together with the exhibits and schedules thereto, contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior
agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules. 
 Section 5.4. Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of
(a) the date of transmission, if such notice or communication is delivered via facsimile (provided the sender receives a machine-generated confirmation of successful transmission) at the facsimile number specified in this Section prior to 6:30
p.m. (EST) on a business day, (b) the next business day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number specified in this Section on a day that is not a business day or later
than 6:30 p.m. (EST) on any business day, (c) the business day following the date of mailing, if sent by U.S. nationally recognized overnight courier service, or (d) upon actual receipt by the party to whom such notice is required to be
given. The address for such notices and communications shall be to the address for each Purchaser as set forth on the signature page and for the Company as follows: 
  

 16 

			
	If to the Company:	  	 Oragenics, Inc.
 13700 Progress Boulevard

Alachua, Florida 32615
 Attn: Stanley B. Stein, Chief Executive Officer

 Facsimile No.: (386)418-1660

		
	With a copy to:	  	 Shumaker, Loop & Kendrick, LLP
 101 E. Kennedy
Boulevard
 Suite 2800
 Tampa, Florida 33602
 Attn: Darrell C. Smith, Esquire
 Facsimile No.: (813)
229-1660

 Section 5.5. Amendments; Waivers. No provision of this Agreement may be waived or
amended except in a written instrument signed, in the case of an amendment, by the Company and the Purchasers holding a majority of the Shares or, in the case of a waiver, by the party against whom enforcement of any such waiver is sought. No waiver
of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement
hereof, nor shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any such right. 
 Section 5.6. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Company may not assign this Agreement or any rights or obligations
hereunder without the prior written consent of the Purchasers holding a majority of the Shares; provided, however, that no consent shall be required in connection with a merger, consolidation or sale of substantially all of the Company’s
assets. Any Purchaser may assign any or all of its rights under this Agreement to any Person in connection with the transfer of the Securities, provided such transferee agrees in writing to be bound, with respect to the transferred Securities, by
the provisions hereof that apply to the “Purchasers”. 
 Section 5.7. No Third-Party Beneficiaries. This Agreement is
intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person. 
 Section 5.8. Governing Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents
shall be governed by and construed and enforced in accordance with the internal laws of the State of Florida, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations,
enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be
commenced exclusively in the United States federal courts and the state courts located in the County of Hillsborough, State of Florida. Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts
sitting in the County of Hillsborough, State of Florida 

  

 17 

 
for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with
respect to the enforcement of any of the Transaction Documents), and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such
suit, action or proceeding is improper. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by delivering a copy thereof via overnight delivery (with
evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to
limit in any way any right to serve process in any manner permitted by law. Each party hereto (including its affiliates, agents, officers, directors and employees) hereby irrevocably waives, to the fullest extent permitted by applicable law, any and
all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. If either party shall commence an action or proceeding to enforce any provisions of a Transaction Document, then
the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding. 

Section 5.9. Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is
delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and affect as if such facsimile signature page were an
original thereof. 
 Section 5.10. Severability. If any provision of this Agreement is held to be invalid or unenforceable in
any respect, the validity and enforceability of the remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision that is a
reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Agreement. 
 Section 5.11.
Independent Nature of Purchasers’ Obligations and Rights. The obligations of Purchaser under any Transaction Document are several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way
for the performance of the obligations of any other Purchaser under any Transaction Document. The decision of Purchaser to purchase Securities pursuant to this Agreement has been made by Purchaser independently of any other Purchaser and
independently of any information, materials, statements or opinions as to the business, affairs, operations, assets, properties, liabilities, results of operations, condition (financial or otherwise) or prospects of the Company or of the Subsidiary
which may have been made or given by any other Purchaser or by any agent or employee of any other Purchaser, and no Purchaser or any of its agents or employees shall have any liability to any other Purchaser (or any other person) relating to or
arising from any such information, materials, statements or opinions. Nothing contained herein or in any Transaction Document, and no action taken by any Purchaser pursuant thereto, shall be deemed to constitute the Purchasers as a partnership, an
association, a joint venture or any other kind of entity, or create a presumption 

  

 18 

 
that the Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction
Document. Purchaser acknowledges that no other Purchaser has acted as agent for Purchaser in connection with making its investment hereunder and that no other Purchaser will be acting as agent of Purchaser in connection with monitoring its
investment hereunder. Purchaser shall be entitled to independently protect and enforce its rights, including without limitation the rights arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any
other Purchaser to be joined as an additional party in any proceeding for such purpose. Purchaser has been represented by its own separate legal counsel in their review and negotiation of the Transaction Documents. 
 Section 5.12. Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed
to limit or affect any of the provisions hereof. The parties agree that each of them and/or their respective counsel has reviewed and had an opportunity to revise the Transaction Documents and, therefore, the normal rule of construction to the
effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of the Transaction Documents or any amendments hereto. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 
 AND SIGNATURE PAGES FOLLOW] 
  

 19 

 IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly
executed by their respective authorized signatories as of the date first indicated above. 
  

			
	COMPANY
	
	ORAGENICS, INC.
		
	By:	 	 /s/ Stanely B. Stein

	Name:	 	Stanley B. Stein
	Title:	 	President and Chief Executive Officer
	
	PURCHASERS
	
	 /s/ George T. Hawes

	
	49 Central Drive
	
	Plandome New York 11030
		
	Name:	 	George T. Hawes
	
	Investment Amount: up to $2,501,000 USD
	
	Common Shares from Company: up to 5,557,778
	
	Warrants from Company: up to 5,557,778
	
	Address: 49 Central Drive
	
	City/State/Zip: Plandome, New York 11030
	
	Tel: 516-627-5556
	
	Fax: 516-627-2612
	
	Email: gthawes@yahoo.com

  

 20 

			
	Name:	 	William F. Matlack
	
	 /s/ William F. Matlack

	
	Investment Amount: up to $99,000 USD
	
	Common Shares from Company: up to 220,000
	
	Warrants from Company: up to 220,000
	
	Address: 1-547 Harbourside Place
	
	City/State/Zip: Jersey City, NJ 07311
	
	Tel: (201)395-9150
		
	Fax:	 	  

	  

	  

	
	Email: w.matlack@yahoo.com

  

 21 

 Exhibit A 
 THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT, AS AMENDED, OR ANY OTHER APPLICABLE SECURITIES LAWS AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS
OF THE SECURITIES ACT AND SUCH OTHER SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED, OR OTHERWISE DISPOSED OF, EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED PURSUANT TO A VALID EXEMPTION THEREFROM UNDER THE SECURITIES ACT. 
 Warrant No.                      
 WARRANT TO PURCHASE SHARES OF COMMON STOCK OF ORAGENICS, INC. 
 THIS CERTIFIES that, for value received,
[                                        
        ] is entitled to purchase from Oragenics, Inc., a Florida corporation (the “Corporation”), subject to the terms and conditions hereof,
[                                ] shares (the “Warrant Shares”) of
common stock, $0.001 par value (the “Common Stock”). This warrant, together with all warrants hereafter issued in exchange or substitution for this warrant, is referred to as the “Warrant” and the holder of this Warrant is
referred to as the “Holder.” The Warrant is being issued pursuant to that certain Securities Purchase Agreement between the Company and the Purchaser named therein and is subject to the terms and conditions of such Securities Purchase
Agreement. The number of Warrant Shares is subject to adjustment as hereinafter provided. Notwithstanding anything to the contrary contained herein, this Warrant shall expire and no longer be exercisable at 5:00 p.m. Eastern Standard Time (EST) on
fifth anniversary of the date at which issued (the “Termination Date”); provided further, that for the avoidance of doubt, the corporation may not accelerate the expiration date of this Warrant. [The following additional language is for
the Form of Warrant for George T. Hawes] [ Notwithstanding anything in the Securities Purchase Agreement or this Warrant to the contrary, so long as the Company is listed on the American Stock Exchange (“Amex”), the initial holder of
the Warrant, Mr. George Hawes (or any subsequent holder of the Warrant pursuant to which Mr. Hawes would disclaim beneficial ownership), shall be precluded from exercising this Warrant to the extent that either
(i) Mr. Hawes possess direct share ownership in the Company of common stock exceeding 33.33% of the outstanding shares, or (ii) Mr. Hawes otherwise asserts direct control of the Company as interpreted under Amex rules
(e.g. takes a position as Chairman of the Company), without first obtaining shareholder approval of the acquisition of shares of common stock that would cause his common stock percentage ownership to exceed 33.33% or of any direct
assertion of control by Mr. Hawes as interpreted by Amex rules.] 
  

 A-1 

 1. Exercise of Warrants. 
 (a) The Holder may exercise this Warrant in whole or in part at an exercise price per share equal to $1.30 per share, subject to adjustment as provided
herein (the “Warrant Price”), by the surrender of this Warrant (properly endorsed) at the principal office of the Corporation, or at such other agency or office of the Corporation in the United States of America as the Corporation may
designate by notice in writing to the Holder at the address of such Holder appearing on the books of the Corporation, and by payment to the Corporation of the Warrant Price in lawful money of the United States by check or wire transfer for each
share of Common Stock being purchased. Upon any partial exercise of this Warrant, there shall be executed and issued to the Holder a new Warrant in respect of the shares of Common Stock as to which this Warrant shall not have been exercised. In the
event of the exercise of the rights represented by this Warrant, a certificate or certificates for the Warrant Shares so purchased, as applicable, registered in the name of the Holder, shall be delivered to the Holder hereof as soon as practicable
after the rights represented by this Warrant shall have been so exercised. 
 (b) If, but only if, at any time after five years from the date
of issuance of this Warrant there is no effective registration statement registering the resale of the Common Stock underlying this Warrant by the Holder, this Warrant may also be exercised at such time by means of a “cashless exercise” in
which, at any time prior to the Termination Date, the Holder of this Warrant may, at its option, exchange this Warrant, in whole or in part (a “Warrant Exchange”), into Warrant Shares by surrendering this Warrant at the principal office of
the Corporation, accompanied by a notice stating such Holder’s intent to effect such exchange, the number of Warrant Shares to be exchanged and the date on which the Holder requests that such Warrant Exchange occur (the “Notice of
Exchange”). The Warrant Exchange shall take place on the date specified in the Notice of Exchange or, if later, within five (5) days of the date the Notice of Exchange is received by the Corporation (the “Exchange Date”).
Certificates for the Warrant Shares issuable upon such Warrant Exchange and, if applicable, a new Warrant of like tenor evidencing the balance of the Warrant Shares remaining subject to this Warrant, shall be issued as of the Exchange Date and
delivered to the Holder within three (3) business days following the Exchange Date. In connection with any Warrant Exchange, this Warrant shall represent the right to subscribe for and acquire the number of Warrant Shares (rounded to the next
highest integer) equal to the quotient obtained by dividing [(A-B) (X)] by (A), where: 
 (A) = the Closing Bid Price (as hereinafter
defined) on the trading day preceding the date on which the Company receives the Exercise Documentation; 
 (B) = the exercise price of this
Warrant, as adjusted; and 
 (X) = the number of shares of Common Stock issuable upon exercise of this Warrant in accordance with the terms
of this Warrant. 
 2. Reservation of Warrant Shares. The Corporation agrees that, prior to the expiration of this Warrant, it will at
all times have authorized and in reserve, and will keep available, solely for issuance or delivery upon the exercise of this Warrant, the number of Warrant Shares as from time to time shall be issuable by the Corporation upon the exercise of this
Warrant. 
 3. No Shareholder Rights. This Warrant shall not entitle the holder hereof to any voting rights or other rights as a
shareholder of the Corporation. 
  

 A-2 

 4. Transferability of Warrant. Prior to the Termination Date and subject to compliance with
applicable laws, this Warrant and all rights hereunder are transferable, in whole or in part, at the office or agency of the Company by the Holder in person or by duly authorized attorney, upon surrender of this Warrant together with the Assignment
Form annexed hereto properly endorsed for transfer. 
 5. Certain Adjustments. With respect to any rights that Holder has to exercise
this Warrant and convert into shares of Common Stock, Holder shall be entitled to the following adjustments: 
 (a) Merger or
Consolidation. If at any time there shall be a merger or a consolidation of the Corporation with or into another corporation when the Corporation is not the surviving corporation, then, as part of such merger or consolidation, lawful provision
shall be made so that the holder hereof shall thereafter be entitled to receive upon exercise of this Warrant, during the period specified herein and upon payment of the aggregate Warrant Price then in effect, the number of shares of stock or other
securities or property (including cash) of the successor corporation resulting from such merger or consolidation, to which the holder hereof as the holder of the stock deliverable upon exercise of this Warrant would have been entitled in such merger
or consolidation if this Warrant had been exercised immediately before such merger or consolidation. In any such case, appropriate adjustment shall be made in the application of the provisions of this Warrant with respect to the rights and interests
of the holder hereof as the holder of this Warrant after the merger or consolidation. 
 (b) Reclassification. Recapitalization, etc.
If the Corporation at any time shall, by subdivision, combination or reclassification of securities, recapitalization, automatic conversion, or other similar event affecting the number or character of outstanding shares of Common Stock, or
otherwise, change any of the securities as to which purchase rights under this Warrant exist into the same or a different number of securities of any other class or classes, this Warrant shall thereafter represent the right to acquire such number
and kind of securities as would have been issuable as the result of such change with respect to the securities that were subject to the purchase rights under this Warrant immediately prior to such subdivision, combination, reclassification or other
change. 
 (c) Split or Combination of Common Stock and Stock Dividend. In case the Corporation shall at any time subdivide, redivide,
recapitalize, split (forward or reverse) or change its outstanding shares of Common Stock into a greater number of shares or declare a dividend upon its Common Stock payable solely in shares of Common Stock, the Warrant Price shall be
proportionately reduced and the number of Warrant Shares proportionately increased. Conversely, in case the outstanding shares of Common Stock of the Corporation shall be combined into a smaller number of shares, the Warrant Price shall be
proportionately increased and the number of Warrant Shares proportionately reduced. Notwithstanding the foregoing, in no event will the Warrant Price be reduced below the par value of the Common Stock. 
  

 A-3 

 6. Legend and Stop Transfer Orders. Unless the Warrant Shares have been registered under the
Securities Act, upon exercise of any part of the Warrant, the Corporation shall instruct its transfer agent to enter stop transfer orders with respect to such Warrant Shares, and all certificates or instruments representing the Warrant Shares shall
bear on the face thereof substantially the following legend: 
 THE SECURITIES EVIDENCED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S.
SECURITIES ACT, AS AMENDED, OR ANY OTHER APPLICABLE SECURITIES LAWS AND HAVE BEEN ISSUED IN RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND SUCH OTHER SECURITIES LAWS. NEITHER THIS SECURITY NOR ANY INTEREST OR
PARTICIPATION HEREIN MAY BE SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED, OR OTHERWISE DISPOSED OF, EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE
CORPORATION THAT SUCH REGISTRATION IS NOT REQUIRED PURSUANT TO A VALID EXEMPTION THEREFROM UNDER THE SECURITIES ACT. 
 In addition, based
upon the Lock-Up Period, defined in the Securities Purchase Agreement the certificates or instruments representing the Warrant Shares shall also bear on the face thereof substantially the following legend: 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON SALE OR TRANSFER CONTAINED IN A SECURITIES PURCHASE AGREEMENT FOR A SIX MONTH LOCK-UP PERIOD.
COPIES OF SUCH AGREEMENT MAY BE INSPECTED AT THE PRINCIPAL OFFICE OF THE COMPANY. 
 7. Miscellaneous. This Warrant shall be governed
by and construed in accordance with the laws of the State of Florida. All the covenants and provisions of this Warrant by or for the benefit of the Corporation shall bind and inure to the benefit of its successors and assigns hereunder. Nothing in
this Warrant shall be construed to give to any person or corporation other than the Corporation and the holder of this Warrant any legal or equitable right, remedy or claim under this Warrant. This Warrant shall be for the sole and exclusive benefit
of the Corporation and the holder of this Warrant. The section headings herein are for convenience only and are not part of this Warrant and shall not affect the interpretation hereof. Upon receipt of evidence satisfactory to the Corporation of the
loss, theft, destruction or mutilation of this Warrant, and of indemnity reasonably satisfactory to the Corporation, if lost, stolen or destroyed, and upon surrender and cancellation of this Warrant, if mutilated, the Corporation shall execute and
deliver to the Holder a new Warrant of like date, tenor and denomination. 
 IN WITNESS WHEREOF, the Corporation has caused this Warrant to
be executed by its duly authorized officers under its seal, this      day of                 , 2008. 
  

			
	ORAGENICS, INC.
		
	By:	 	  

	Name:	 	Stanley B. Stein
	Title:	 	President and CEO

  

 A-4 

 NOTICE OF EXERCISE 
 TO: ORAGENICS, INC. 
 The undersigned is the Holder of Warrant No.
         (the “Warrant”) issued by Oragenics, Inc., a Florida Corporation (the “Company”). Capitalized terms used herein and not otherwise defined have the respective meanings set
forth in the Warrant. 
 The Warrant is currently exercisable to purchase a total of
             Warrant Shares. 
 The undersigned hereby exercises its
right to purchase                  Warrant Shares pursuant to the Warrant and delivers herewith the original Warrant certificate in accordance with the terms of
the Warrant and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any. 
 Payment
shall take the form of (check applicable box): 
 [    ] in lawful money of the United States; or 
 [    ] the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in
Section 1(b) of the Warrant, to exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in Section 1(b) of the Warrant. 
 The undersigned hereby requests that the Company issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or
in such other name as is specified below: 
 The Warrant Shares shall be delivered to the following: 
  

					
	  
	  		  	
	  
	  		  	
	  
	  		  	

 Accredited Investor. The undersigned is an “accredited investor” as defined in
Regulation D promulgated under the Securities Act of 1933, as amended. 
 Name of Holder: 

	
	  

 Signature of Authorized Signatory of Holder: 

	
	  

  

 A-5 

			
	Name of Authorized Signatory:	 	  

  

			
	Title of Authorized Signatory:	 	  

  

			
	Telephone Number and E-Mail Address of Authorized Signatory:	 	  

 Date: 

	
	  

 (Signature must conform in all respect to the name of Holder as specified on the face of the Warrant.) 

 

 A-6 

 ASSIGNMENT FORM 
 (TO ASSIGN THE FOREGOING WARRANT, EXECUTE THIS FORM AND SUPPLY REQUIRED INFORMATION. DO NOT USE THIS FORM TO EXERCISE THE WARRANT.) 
 FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby sold, assigned and transferred to
                                        
         whose address is
                                        
                                        , and
                                        
     is hereby appointed attorney to transfer said rights on the books of Oragenics, Inc., with full power of substitution in the premises. 
 Dated:
                                        
             
  

					
	Holder’s Signature:	  	  
	  	
	Holder’s Address:	  	  
	  	
		  	  
	  	

  

			
	Signature Guaranteed:	  	  

 NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the
Warrant, without alteration or enlargement or any change whatsoever, and must be guaranteed by a bank or trust company. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of
authority to assign the foregoing Warrant. 
  

 A-7Amedment No.1 and Agreement to Revolving Credit and Term Loan Agreement

 Exhibit 10.1 
 AMENDMENT NO. 1 AND AGREEMENT TO 
 REVOLVING CREDIT AND TERM LOAN AGREEMENT 
 This Amendment No. 1 and Agreement dated as of June 12, 2008 to the Revolving Credit and Term Loan Agreement (this “Amendment
No. 1 and Agreement”), is entered into among Atlas Pipeline Partners, L.P., a Delaware limited partnership (“Borrower”), the Subsidiaries of the Borrower identified as “Guarantors” on the signature pages
hereto (the “Guarantors”), the Lenders signatory hereto and Wachovia Bank, National Association, in its capacity as administrative agent for the Lenders (in such capacity, the “Administrative Agent”) and amends the
Revolving Credit and Term Loan Agreement dated as of July 27, 2007 (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”) entered into among the Borrower, the Guarantors named therein
(collectively, the “Guarantors”), the institutions from time to time party thereto as Lenders (the “Lenders”), the Administrative Agent and the other agents and arrangers named therein. Capitalized terms used herein
and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement. 
 W I T N E S S E T H: 
 WHEREAS, Section 12.04 of the Credit Agreement provides that the Credit Agreement may be amended, modified and waived from time to time; 

WHEREAS, the Borrower has requested that the Administrative Agent and the Lenders agree to amend the Credit Agreement in certain respects as set forth
herein and the Lenders and the Administrative Agent are agreeable to the same, subject to the terms and conditions set forth herein; 
 NOW,
THEREFORE, in consideration of the premises and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties hereto hereby agree as follows: 
 Section 1. Amendment to Credit Agreement 
 (a) Amendments to Section 1.02 of the Credit Agreement. Section 1.02 of the Credit Agreement is hereby amended as follows: 
 (i) The definition of “Consolidated EBITDA” is hereby amended and restated as follows: 
 “Consolidated EBITDA means, for any trailing twelve-month period, the sum of (i) Consolidated Net Income for such
period, plus without duplication (ii) the following expenses or charges to the extent deducted from Consolidated Net Income in such period: interest, income taxes, depreciation, depletion, amortization, non-cash compensation on long-term
incentive plans, extraordinary, unusual or non-recurring charges relating to premiums or penalties paid to counterparties, in connection with the breakage, termination or unwinding of Hedging Agreements to the extent such charges are financed
with or paid for out of proceeds of an Equity Offering by the Borrower and other non-cash charges (other than a non-cash charge resulting from an accrual of a reserve for any cash charge in any future period) to Consolidated Net Income including
non-cash losses resulting from mark to market accounting of Hedging Agreements, minus without duplication (iii) non-cash credits to Consolidated Net Income including non cash gains resulting from mark to market accounting of hedging
agreements; provided that with respect to that portion of the Borrower’s Consolidated EBITDA attributable to the Acquired Business, (a) such portion of Consolidated EBITDA for the fiscal quarter ending December 31, 2007 shall
be calculated by 

 
annualizing the Consolidated EBITDA of the Acquired Business for such fiscal quarter and the previous fiscal quarter and (b) such portion of
Consolidated EBITDA for the fiscal quarter ending March 31, 2008 shall be calculated by annualizing the Consolidated EBITDA of the Acquired Business for such fiscal quarter and the two previous fiscal quarters. For purposes of this Agreement,
Consolidated EBITDA shall be adjusted on a pro forma basis, in a manner reasonably acceptable to the Administrative Agent, to include, as of the first day of any applicable period, without duplication, (x) the Anadarko Formation or any
acquisition permitted pursuant to Section 9.03(i) closed during such period, including, without limitation, adjustments reflecting any non-recurring costs and any extraordinary expenses of the Anadarko Formation or any acquisition permitted
pursuant to Section 9.03(i) closed during such period calculated on a basis consistent with GAAP and Regulation S-X of the Securities Exchange Act of 1934, as amended, or as approved by the Administrative Agent and (y) any Pro Forma Cost
Savings. 
 (ii) The definition of “Loan Documents” is hereby amended and restated as follows: 
 “Loan Documents means this Agreement, the Notes, the Guaranty Agreements, all Letters of Credit, all Letter of Credit Agreements, the
Fee Letter, the Security Instruments, the Increase Joinder, if any, and each other document, instrument, certificate and agreement executed and delivered by the Borrower or any Subsidiary thereof in connection with this Agreement or otherwise
referred to herein or contemplated hereby (excluding any Hedging Agreement and Cash Management Agreements), all as may be amended, restated, supplemented or otherwise modified from time to time.” 
 The definition of “Revolver Facility” is hereby amended and restated as follows: 
 “Revolver Facility means the credit facility as described in and subject to the limitations set forth in
Section 2.01(a)(i) hereof (as the same may be decreased pursuant to Section 2.03(a) or increased pursuant to Section 2.12(a)).” 
 (iii) The following definitions shall be added in alphabetical order to read as follows: 
 “Decline Commitment” means the agreement of each Term Lender who has executed clause (2)(A) of the signature page to the
Amendment No. 1 and Agreement dated as of June 10, 2008 to the Credit Agreement to decline the entire portion of the prepayment of its Term Loans pursuant to Section 3.01(b)(vii) of this Agreement. 
 “Increase Effective Date has the meaning assigned to such term in Section 2.12(a). 
 “Incremental Loan” has the meaning assigned to such term in Section 2.12(c). 
 “Incremental Loan Commitment” has the meaning assigned to such term in Section 2.12(a). 
 “Incremental Loan Maturity Date” has the meaning assigned to such term in Section 2.12(c). 
 “Increase Joinder” has the meaning assigned to such term in Section 2.12(c).” 
 “OID” has the meaning assigned to such term in Section 2.12(c). 
  

 -2- 

 (b) Amendments to Section 3.01(b) of the Credit Agreement.
Section 3.01(b) of the Credit Agreement is hereby amended as follows: 
 (i) Clause (vii) is amended and
restated as follows: 
 “(vii) So long as any Term Loans remain outstanding, any Term Loan Lender may elect to decline
the entire portion of the prepayment of its Term Loans pursuant to Section 3.01(b) by delivery of a completed Notice of Election to the Administrative Agent by telecopy at least one Business Day prior to the applicable prepayment
date, in which case the aggregate amount of the prepayment that would have been applied to prepay Term Loans but was so declined shall be re-offered to those Term Loan Lenders under this Agreement who have initially accepted such prepayment
(such re-offer to be made to each such Term Loan Lender based on the percentage which such Term Loan Lender’s Term Loans represents of the aggregate Term Loans of all such Term Loan Lenders who have initially accepted such prepayment). In the
event of such a re-offer, the relevant Lenders may elect to decline in such Notice of Election all of the amount of such prepayment that is re-offered to them, in which case the aggregate amount of the prepayment that would have been applied to
prepay such Term Loans pursuant to such re-offer but was so declined shall be applied to repay Revolver Loans; provided that no reduction of the Revolver Commitments shall be required in connection with such prepayment. Any amounts
remaining following repayment of the Revolver Loans shall be returned to the Borrower. In the absence of delivery of a completed Notice of Election with respect to any prepayment at least one Business Day prior to the applicable prepayment date,
such Lender shall automatically be deemed to have accepted such prepayment and any re-offer in respect thereof.” 
 (c) Amendments to Article II of the Credit Agreement. Article II of the Credit Agreement is hereby amended by adding Section 2.12 as follows: 
 “Section 2.12 Increase in Commitments. 
  

	 	a)	Borrower Request. Borrower may by written notice to the Administrative Agent elect to request prior to the Termination Date, an increase to the existing Revolver Commitments
(an “Incremental Loan Commitment”) by an amount not in excess of $140,000,000; provided that the sum of the Incremental Loan Commitment and the amount of Revolver Loans repaid by the Borrower with the proceeds of a
Specified Note Offering declined by the Term Loan Lenders pursuant to Section 3.01(b)(vii) of this Agreement shall not exceed $200,000,000; provided, however that the limitation in the immediately preceding proviso shall cease to apply
45 business days after the date of the Amendment No. 1 and Agreement. Each such notice shall specify (i) the date (each, an “Increase Effective Date”) on which Borrower proposes that the increased or new Commitments
shall be effective, which shall be a date not less than 10 Business Days after the date on which such notice is delivered to the Administrative Agent and (ii) the identity of each Eligible Assignee to whom Borrower proposes any portion of such
increased or new Commitments be allocated and the amounts of such allocations; provided that any existing Lender approached to provide all or a portion of the increased or new Commitments may elect or decline, in its sole discretion, to
provide such increased or new Commitment. 

  

	 	b)	Conditions. The increased or new Commitments shall become effective, as of such Increase Effective Date; provided that; 

  

	 	i.	each of the conditions set forth in Section 6.02 shall be satisfied; 

  

	 	ii.	no Default would result from the borrowings to be made on the Increase Effective Date; 

  

 -3- 

	 	iii.	after giving pro forma effect to the borrowings to be made on the Increase Effective Date and to any change in Consolidated EBITDA and any increase in Indebtedness resulting from
the consummation of any acquisition permitted by Section 9.03(i) concurrently with such borrowings as of the date of the most recent financial statements delivered pursuant to Section 8.01(a) or (b), Borrower shall be in
compliance with each of the covenants set forth in Sections 9.13 and 9.14; 

  

	 	iv.	Borrower shall make any payments required pursuant to Section 5.05 in connection with any adjustment of Revolver Loans pursuant to Section 2.12(d); and

  

	 	v.	Borrower shall deliver or cause to be delivered any legal opinions or other documents reasonably requested by the Administrative Agent in connection with any such transaction.

  

	 	c)	Terms of New Loans and Commitments. The terms and provisions of Loans made pursuant to the new Commitments shall be as follows: 

  

	 	i.	terms and provisions of Revolver Loans made pursuant to Incremental Loan Commitments (“Incremental Loans”) shall be, except as otherwise set forth herein or
in the Increase Joinder, identical to the Revolver Loans (it being understood that Incremental Loans may be a part of the Loans); 

  

	 	ii.	the weighted average life to maturity of any Incremental Loans shall be no shorter than the weighted average life to maturity of the existing Revolver Loans;

  

	 	iii.	the maturity date of Incremental Loans (the “Incremental Loan Maturity Date”) shall not be earlier than the Termination Date; 

  

	 	iv.	the Applicable Margins for the Incremental Loans shall be determined by Borrower and the Lenders of the Incremental Loans; provided that in the event that the Applicable
Margins for any Incremental Loans are greater than the Applicable Margins for the Revolver Loans, then the Applicable Margins for the Revolver Loans shall be increased to the extent necessary so that the Applicable Margins for the Incremental Loans
are equal to the Applicable Margins for the Revolver Loans; provided, further, that in determining the Applicable Margins applicable to the Revolver Loans and the Incremental Loans, (x) original issue discount
(“OID”) shall be included (with OID being equated to interest based on an assumed four-year life to maturity), (y) upfront fees in excess of 1.0% (which shall be deemed to constitute like amounts of OID) payable by Borrower to
the Lenders of the Loans or the Incremental Loans in the primary syndication thereof shall be included and (z) customary arrangement or commitment fees payable to the Lead Arranger (or its affiliates) in connection with the Revolver Loans or to
one or more arrangers (or their affiliates) of the Incremental Loans shall be excluded; and 

  

	 	v.	to the extent that the terms and provisions of Incremental Loans are not identical to the Revolver Loans (except to the extent permitted by clause (iv) or (v) above) they
shall be reasonably satisfactory to the Administrative Agent. 

  

 -4- 

 The increased or new Commitments shall be effected by a joinder agreement (the “Increase
Joinder”) executed by Borrower, the Administrative Agent and each Lender making such increased or new Commitment, in form and substance satisfactory to each of them. The Increase Joinder may, without the consent of any other Lenders,
effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of the Administrative Agent, to effect the provisions of this Section 2.12. In addition, unless otherwise
specifically provided herein, all references in Loan Documents to Revolver Loans shall be deemed, unless the context otherwise requires, to include references to Revolver Loans made pursuant to new Commitments and Incremental Loans that are Revolver
Loans, respectively, made pursuant to this Agreement. 
  

	 	d)	Adjustment of Revolver Loans. Each Revolver Lender that is acquiring a new or additional Revolver Commitment on the Increase Effective Date shall make a Revolving Loan, the
proceeds of which will be used to prepay the Revolver Loans of the other Revolver Lenders immediately prior to such Increase Effective Date, so that, after giving effect thereto, the Revolver Loans outstanding are held by the Revolver Lenders pro
rata based on their Revolver Commitments after giving effect to such Increase Effective Date. If there is a new borrowing of Revolver Loans on such Increase Effective Date, the Revolver Lenders after giving effect to such Increase Effective Date
shall make such Revolver Loans in accordance with Section 2.01. 

  

	 	e)	Equal and Ratable Benefit. The Loans and Commitments established pursuant to this paragraph shall constitute Loans and Commitments under, and shall be entitled to all the
benefits afforded by, this Agreement and the other Loan Documents, and shall, without limiting the foregoing, benefit equally and ratably from the Guarantees and security interests created by the Security Instruments. The Borrower shall take any
actions reasonably required by the Administrative Agent to ensure and/or demonstrate that the Lien and security interests granted by the Security Instruments continue to be perfected under the UCC or otherwise after giving effect to the
establishment of any such new Commitments.” 

 (d) Section 12.06(c) of the Credit Agreement is hereby
amended and restated as follows: 
 “Register. The Administrative Agent, acting solely for this purpose as an agent
of the Borrower, shall maintain at one of its offices in Charlotte, North Carolina, a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and
principal and interest amounts of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The Administrative Agent shall identify in the Register those Term Lenders that have agreed
to make the Decline Commitment (and their assignees). The entries in the Register shall be conclusive, and the Borrower, the Administrative Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the
terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon
reasonable prior notice.” 
 Section 2. Agreement to Decline Prepayment of Term Loan 
 (a) Subject to the satisfaction of the conditions set forth in Section 3 hereof, to the extent the Borrower consummates a senior or subordinated
unsecured note offering within 45 business days of the Amendment No. 1 and Agreement Effective Date (as defined below) (a “Specified Note Offering”), each Term Lender that executes clause (2)(A) of the signature page below
hereby agrees, as to 

  

 -5- 

 
all Term Loans held by such Term Lender, which agreement shall also be binding upon assignees of such Term Loans, to decline the prepayment of its Term Loans
pursuant to Section 3.01(b)(vii) of the Credit Agreement up to an amount that, together with the aggregate amount of all other Term Loan prepayments from the proceeds of a Specified Note Offering declined by Term Lenders pursuant to
Section 3.01(b)(vii) of the Credit Agreement, equals the outstanding amount of Revolving Loans at such time, such calculation to be made by the Administrative Agent (the “Agreement to Decline”). 
 Section 3. Conditions Precedent to the Effectiveness of this Amendment No. 1 and Agreement 
 (a) This Amendment shall become effective as of the date hereof (the “Amendment No. 1 and Agreement Effective Date”) when, and only
when, each of the following conditions precedent shall have been (or is or will be substantially concurrently therewith) satisfied or waived by the Administrative Agent: 
 (i) The Administrative Agent shall have received counterparts of this Amendment No. 1 and Agreement, duly executed by (1) the
Borrower, (2) the Administrative Agent and (3) the Required Lenders with respect to amendments described in Section 1 and each of the Term Lenders agreeing to the Agreement to Decline described in Section 2; provided, that
if the consent of the Required Lenders is received but the consent of all of the Term Lenders to the Agreement to Decline is not received, the amendments described in Section 1 shall become effective but the Agreement to Decline shall become
operative only with respect to the Term Lenders who have consented to the Agreement to Decline and shall have no effect on the Term Lenders who have not consented to the Agreement to Decline; 
 (ii) The Administrative Agent shall have received an opinion of legal counsel for the Borrower, dated the Amendment No. 1 and
Agreement Effective Date and addressed to the Administrative Agent and the Lenders, which opinion shall provide, among other things, that the execution and delivery of the Amendment by the Borrower and the consummation of the transactions
contemplated thereby will not violate the corporate instruments of the Borrower or the terms of the Loan Documents, and shall otherwise be in form and substance acceptable to the Administrative Agent and the Lenders; 
 (iii) The Borrower shall have paid (1) the Administrative Agent the fees in the amounts previously agreed to be received on the
Amendment No. 1 and Agreement Effective Date and (2) all reasonable out-of-pocket costs and expenses of the Administrative Agent in connection with the preparation, reproduction, execution and delivery of this Amendment No. 1 and
Agreement (including, without limitation, the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent with respect thereto); 
 (iv) The Borrower shall have paid a fee to (i) each Lender who consents to this Amendment No.1 and Agreement on or prior to 12:00pm, Charlotte, NC time, on June 12, 2008 in an amount equal to 25 basis points
of such consenting Lender’s Term Loans and used and unused Revolver Commitments on the Amendment No.1 and Agreement Effective Date; 
 (v) On the date each Term Lender who executes the Agreement to Decline pursuant to Section 2 hereof declines the entire portion of the prepayment of its Term Loans pursuant to Section 3.01(b)(vii) of the
Credit Agreement, the Borrower shall pay a fee to each such Term Lender in an amount equal to such Term Lender’s pro rata share of total outstanding Term Loans multiplied by the product of 50 basis points and the aggregate net proceeds from a
Specified Note Offering that are applied to repay outstanding Revolving Loans. 
  

 -6- 

 Section 4. Representations and Warranties 
 On and as of the Amendment No. 1 and Agreement Effective Date, after giving effect to this Amendment No. 1 and Agreement, the Borrower hereby
represents and warrants to the Administrative Agent and each Lender as follows: 
 (a) this Amendment has been duly
authorized, executed and delivered by the Borrower and constitutes the legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its terms and the Credit Agreement, as amended by this Amendment
No. 1 and Agreement, constitutes the legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its terms; 
 (b) No Default or Event of Default under the Credit Agreement exists or is continuing or would exist immediately after giving effect to
this Amendment No. 1 and Agreement. 
 (c) No consent, approval, authorization or offer of, or filing, registration or
qualification with, any court or governmental authority or third party is required in connection with the execution, delivery or performance by such Person of this Amendment. 
 (d) The representations and warranties set forth in Article VII of the Credit Agreement are true and correct in all material respects as
of the date hereof (except for those which expressly relate to an earlier date). 
 Section 5. Reference to and Effect on the Loan
Documents 
 (a) As of the Amendment No. 1 and Agreement Effective Date, each reference in the Credit Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein,” or words of like import, and each reference in the other Loan Documents to the Credit Agreement (including, without limitation, by means of words like
“thereunder,” “thereof” and words of like import), shall mean and be a reference to the Credit Agreement as amended hereby, and this Amendment No. 1 and Agreement and the Credit Agreement shall be read together and construed
as a single instrument. Each of the table of contents and lists of Exhibits and Schedules of the Credit Agreement shall be amended to reflect the changes made in this Amendment No. 1 and Agreement as of the Amendment No. 1 and Agreement
Effective Date. 
 (b) As of the Amendment No. 1 and Agreement Effective Date, Borrower hereby acknowledges that it has received and
reviewed a copy of the Credit Agreement and acknowledges and agrees to be bound by all covenants, agreements and acknowledgments in the Credit Agreement and any other Loan Document and to perform all obligations and duties required of it by the
Credit Agreement. 
 (c) Except as expressly amended hereby or specifically waived above, all of the terms and provisions of the Credit
Agreement and all other Loan Documents are and shall remain in full force and effect and are hereby ratified and confirmed. 
 (d) The
execution, delivery and effectiveness of this Amendment No. 1 and Agreement shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders, the Borrower or the Administrative Agent under any of
the Loan Documents, nor constitute a waiver or amendment of any other provision of any of the Loan Documents or for any purpose except as expressly set forth herein. 
  

 -7- 

 (e) This Amendment No. 1 and Agreement shall constitute a Loan Document under the terms of the
Credit Agreement. 
 Section 6. Acknowledgement of Guarantors 
 The Guarantors acknowledge and consent to all terms and conditions of this Amendment No. 1 and Agreement and agree that this Amendment No. 1 and
Agreement and all documents executed in connection herewith do not operate to reduce or discharge the Guarantors’ obligations under the Loan Documents. 
 Section 7. Execution in Counterparts 
 This Amendment No. 1 and Agreement may be
executed in any number of counterparts and by different parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Signature pages
may be detached from multiple separate counterparts and attached to a single counterpart so that all signature pages are attached to the same document. Delivery of an executed counterpart by telecopy shall be effective as delivery of a manually
executed counterpart of this Amendment No. 1 and Agreement. 
 Section 8. Lender Signatures 
 Each Lender that signs a signature page to this Amendment No.1 shall be deemed to have approved this Amendment No.1 and shall be further deemed for the
purposes of the Loan Documents to have approved this Amendment No.1. Each Term Lender that signs a signature page in clause (2)(A) of the signature page below has approved the Agreement to Decline. Each Lender signatory to this Amendment agrees
that such Lender shall not be entitled to receive a copy of any other Lender’s signature page to this Amendment, but agrees that a copy of such signature page may be delivered to the Borrower and the Administrative Agent. 
 Section 9. Governing Law 
 This Amendment No. 1 and Agreement shall be governed by and construed in accordance with the law of the State of New York. 
 Section 10. Section Titles 
 The section titles contained in this Amendment No. 1 and Agreement are and
shall be without substantive meaning or content of any kind whatsoever and are not a part of the agreement between the parties hereto, except when used to reference a section. Any reference to the number of a clause, subclause or subsection of any
Loan Document immediately followed by a reference in parenthesis to the title of the section of such Loan Document containing such clause, subclause or subsection is a reference to such clause, subclause or subsection and not to the entire section;
provided, however, that, in case of direct conflict between the reference to the title and the reference to the number of such section, the reference to the title shall govern absent manifest error. If any reference to the number of a
section (but not to any clause, subclause or subsection thereof) of any Loan Document is followed immediately by a reference in parenthesis to the title of a section of any Loan Document, the title reference shall govern in case of direct conflict
absent manifest error. 
  

 -8- 

 Section 11. Notices 
 All communications and notices hereunder shall be given as provided in the Credit Agreement. 
 Section 12. Severability 
 The fact that any term or provision of this Amendment No. 1 and Agreement is held invalid, illegal or unenforceable as to any person in any situation in any jurisdiction shall not affect the validity, enforceability or legality of the
remaining terms or provisions hereof or the validity, enforceability or legality of such offending term or provision in any other situation or jurisdiction or as applied to any person. 
 Section 13. Successors 
 The terms of this Amendment No. 1 and Agreement shall be binding upon, and shall inure to the benefit of, the parties hereto and their respective successors and assigns. 
 Section 14. Waiver of Jury Trial 
 EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES TRIAL BY JURY IN ANY ACTION OR PROCEEDING WITH RESPECT TO THIS AMENDMENT NO. 1 AND AGREEMENT OR ANY OTHER LOAN DOCUMENT. 
 [Signature pages follow.] 
  

 -9- 

 IN WITNESS WHEREOF, the parties hereto have caused
this Amendment No. 1 and Agreement to be executed by their respective officers thereunto duly authorized, as of the date first written above. 
  

			
	ATLAS PIPELINE PARTNERS, L.P.
		
	By:	 	 Atlas Pipeline Partners, GP, LLC,
 its General Partner

		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	 Guarantors:

	
	 ATLAS ARKANSAS PIPELINE, LLC

	 ATLAS CHANEY DELL, LLC

	 ATLAS MIDKIFF, LLC

	 ATLAS PIPELINE MCKEAN, LLC

	 ATLAS PIPELINE NEW YORK, LLC

	 ATLAS PIPELINE OHIO, LLC

	 ATLAS PIPELINE PENNSYLVANIA, LLC

	 ATLAS PIPELINE TENNESEE, LLC

	 ATLAS PIPELINE OPERATING PARTNERSHIP, L.P.

	 ATLAS PIPELINE MID-CONTINENT LLC

	 ELK CITY OKLAHOMA PIPELINE, L.P.

	 ELK CITY OKLAHOMA GP, LLC,

	 MID-CONTINENT ARKANSAS PIPELINE, LLC

	 NOARK PIPELINE SYSTEM, LIMITED PARTNERSHIP

	 NOARK ENERGY SERVICES, L.L.C.

	 OZARK GAS GATHERING, L.L.C.

	 OZARK GAS TRANSMISSION, L.L.C.

		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	WACHOVIA BANK, NATIONAL ASSOCIATION, as Administrative Agent
		
	By:	 	  

	Name:	 	
	Title:	 	

  

 We hereby agree to: 
 Check
one: 
 (1) Revolver Lenders Only: 
  

			
	                      	 	All of the amendments contained in the Amendment on the Amendment No. 1 and Agreement Effective Date.

 (2) Term Lenders Only: 
  

			
	                       

	 	(A) All of the amendments contained in the Amendment on the Amendment No. 1 and Agreement Effective Date, including the Agreement to Decline.
		
		 	 OR

		
	                       

	 	(B) All of the amendments contained in the Amendment on the Amendment No. 1 and Agreement Effective Date, excluding the Agreement to Decline.

  

			
	 [                                        
     ], as a

	
	 [Term Loan] [Revolver Loan] Lender

		
	 By:
	 	  

	 Name:
	 	
	 Title:

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