Document:

Exhibit 4.11

 

FIRST AMENDMENT TO WARRANTS AGREEMENT

 

This FIRST AMENDMENT TO WARRANTS AGREEMENT (this “Amendment”) is dated as of [·], 2014, between Magnum Hunter Resources Corporation, a Delaware corporation (the “Company”), and American Stock Transfer & Trust Company, LLC, a New York limited liability trust company, as warrants agent (the “Warrants Agent”).  This Amendment amends the Warrants Agreement dated as of October 15, 2013 between the Company and the Warrants Agent (the “Agreement”).  Capitalized terms used and not otherwise defined in this Amendment have the meanings given to such terms in the Agreement.

 

RECITALS

 

WHEREAS, Section 22 of the Agreement provides that the Company and the Warrants Agent may from time to time supplement or amend the Agreement without the approval of any Warrantholders to make any provisions in regard to matters arising under the Agreement that the Company and the Warrants Agent may deem necessary or desirable and that shall not adversely affect, alter or change the interests of the Warrantholders in any material respect; and

 

WHEREAS, the Company and the Warrants Agent deem it necessary or desirable to amend the Agreement as set forth in this Amendment;

 

NOW, THEREFORE, in consideration of the premises and mutual agreements herein set forth, the parties hereto agree as follows:

 

AGREEMENT

 

1.                                      Amendments to Agreement. Effective as of the date hereof, the Agreement is hereby amended as follows:

 

(a)                                 Section 7(a) of the Agreement is amended and restated to read in its entirety as follows:

 

(a)                                 Unless the Warrants are redeemed in accordance with Section 14 hereof, the Warrants shall expire at 5:00 p.m. New York City time (“Close of Business”) on April 15, 2016, subject to extension, in the sole discretion of the Company, in a written statement to the Warrants Agent and with at least thirty (30) days’ prior notice to registered Warrantholders in the manner provided for in Section 15 hereof (such date of expiration being hereinafter referred to as the “Expiration Date”). Beginning on [·], 2014 and thereafter until the Close of Business on the Expiration Date, the Warrants may be exercised on any business day, subject to Section 7(i)-(j) and the remaining provisions of this Agreement. After the Close of Business on the Expiration Date, the Warrants will become void and of no value.

 

(b)                                 Section 7(i) of the Agreement is amended and restated to read in its entirety as follows:

 

(i)                                     No issuance of shares of Common Stock upon exercise of Warrants shall be made unless there is a current prospectus covering such shares of Common Stock

 

 

under an effective registration statement under the Securities Act or, where applicable, Canadian provincial securities laws (or an exemption therefrom), and registration or qualification of such shares of Common Stock (or an exemption therefrom) has been obtained from the state, provincial or other regulatory authorities in the jurisdiction in which such shares of Common Stock are sold. The Company will provide to the Warrants Agent written confirmation of such registration or qualification, or an exemption therefrom, when requested by the Warrants Agent, and the determination of the Company shall be final and binding on the Warrants Agent and each Warrantholder. Without limiting the foregoing, the Company, by instruction to the Warrants Agent, may suspend the exercisability of the Warrants if, in the Company’s judgment, it is necessary to amend the Registration Statement (as defined in Section 12) or supplement the related prospectus in order to maintain the effectiveness of the Registration Statement or keep the prospectus current or comply with applicable law. Following the receipt by the Warrants Agent of an instruction from the Company to suspend the exercisability of the Warrants as provided in the preceding sentence, the Warrants Agent shall not permit the exercise of Warrants without the consent of the Company until the Warrants Agent has received a further instruction from the Company terminating the suspension of the exercisability of the Warrants.

 

(c)                                  Section 12 of the Agreement is amended and restated to read in its entirety as follows:

 

12.                               Registration of Warrants and Shares of Common Stock.  The Company has filed with the Securities and Exchange Commission (the “Commission”) a registration statement on Form S-1 (Registration Number 333-192613) (as amended or supplemented, the “Registration Statement”) registering the shares of Common Stock issuable upon exercise of the Warrants under the Securities Act of 1933, as amended, and the Registration Statement has been declared effective by the Commission.  Except as set forth in the penultimate sentence of Section 7(i) and the last sentence of this Section 12, the Company will use its commercially reasonable efforts to keep the Registration Statement continuously effective from the date the Registration Statement was first declared effective by the Commission through the Expiration Date and to keep the Registration Statement and prospectus included therein current while any of the Warrants are outstanding. So long as any unexpired Warrants remain outstanding, the Company will in good faith use its commercially reasonable efforts to endeavor to obtain and keep effective any and all permits, consents and approvals of governmental agencies and authorities and to make filings under federal, state and provincial securities acts and laws, which may be or become reasonably necessary in connection with the issuance and delivery of the Warrant Certificates, the exercise of the Warrants and the issuance, sale, transfer and delivery of the shares of Common Stock issued upon exercise of Warrants; provided, however, that the Company will not take such actions with respect to any transfer of the Warrants, which have not been registered under the Securities Act and are not transferable except as provided in Section 6(a) hereof. However, Warrants may not be exercised or sold by, nor may shares of Common Stock or other securities be issued to, any registered Warrantholder in any state or jurisdiction in which such exercise or sale would be unlawful. Notwithstanding anything to the contrary in this Section 12, the Company shall not be required to keep the Registration Statement or any other

 

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registration statement covering the shares of Common Stock issuable upon exercise of the Warrants effective or current or any related prospectus current if in the reasonable judgment of the Company the discrepancy between the market price of the Common Stock and the Exercise Price makes it unlikely that the Warrants will be exercised or following the Close of Business on the Expiration Date or such earlier date upon which all Warrants have been exercised or redeemed in full in accordance with the terms set forth herein.

 

(d)                                 Section 14 of the Agreement is amended to add the following new paragraph (e) at the end of such Section:

 

(e)                                  Notwithstanding anything herein to the contrary, the Redemption Date (i) shall be extended to the date that follows the Redemption Date otherwise in effect by a number of days equal to the number of days during which the exercisability of the Warrants has been suspended pursuant to Section 7(i) after the exercise by the Company of its right to redeem Warrants, and (ii) may be extended, at the option of the Company if, and for such period of time during which, in the Company’s reasonable judgment the discrepancy between the market price of the Common Stock and the Exercise Price of the Warrants makes it unlikely that the Warrants will be exercised.  If the Redemption Date is extended pursuant to this Section 14(e), then promptly after such extension the Company will provide written notice of such extension to each Warrantholder whose Warrants are to be redeemed, which notice shall specify the Redemption Date resulting from such extension; provided, however, that in the case of an extension pursuant to clause (ii) above, the notice may provide that the Company will specify the new Redemption Date in a subsequent written notice to affected Warantholders, which Redemption Date shall not be less than [ten (10)] days after such subsequent notice.

 

2.                                      Continuing Effect.  Except as specifically amended by this Amendment, the Agreement shall continue to be in full force and effect and is hereby ratified and confirmed in all respects and for all purposes.

 

3.                                      Governing Law.  This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be construed in accordance with the internal laws of the State of Delaware without regard to conflict of law or choice of law principles that would cause the application of any laws other than the State of Delaware.

 

4.                                      Counterparts.  This Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and such counterparts shall together constitute but one and the same instrument.

 

[Signature page follows.]

 

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IN WITNESS WHEREOF the parties hereto have caused this Amendment to be executed and delivered as of the day and year first written above.

 

	
 
    	
MAGNUM   HUNTER RESOURCES CORPORATION
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
Joseph   C. Daches
    
	
 
    	
Title:
    	
Senior   Vice President and Chief Financial Officer
    
	
 
    	
 
    
	
Attest:
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    
	
Name:
    	
Paul   M. Johnston
    	
 
    
	
Title:
    	
Senior   Vice President and General Counsel
    	
 
    
	
 
    	
 
    
	
 
    	
AMERICAN   STOCK TRANSFER & TRUST COMPANY, LLC
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    	
Barbara   J. Robbins
    
	
 
    	
Title:
    	
Vice   President
    
	
 
    	
 
    
	
Attest:
    	
 
    
	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    
	
Name:
    	
Kathy   O’Kane
    	
 
    
	
Title:
    	
Vice   President
    	
 
    

 

Signature Page to First Amendment to Warrants AgreementExhibit 10.14

 

FOURTH AMENDMENT TO LEASE

 

THIS FOURTH AMENDMENT TO LEASE (this “Amendment”) is entered into as of this 30th day of September, 2013 (the “Execution Date”), by and between BMR-ROAD TO THE CURE LP, a Delaware limited partnership (“Landlord,” as successor-in-interest to BMR-10835 ROAD TO THE CURE LLC (“Original Landlord”)), and RECEPTOS, INC., a Delaware corporation (“Tenant,” as successor-in-interest to APOPTOS, INC. (“Original Tenant”)).

 

RECITALS

 

A.                                    WHEREAS, Original Landlord and Original Tenant entered into that certain Lease dated as of August 24, 2007, as amended by that certain First Amendment to Lease dated as of March 30, 2008, that certain Amended and Restated Second Amendment to Lease dated as of September 15, 2009 and that certain Third Amendment to Lease dated as of January 6, 2012 (collectively, and as the same may have been heretofore further amended, amended and restated, supplemented or modified from time to time, the “Lease”), whereby Tenant leases certain premises (the “Existing Premises”) from Landlord at 10835 Road to the Cure in San Diego, California (the “Building”);

 

B.                                    WHEREAS, Landlord has remeasured the Existing Premises and Building and desires to amend the Rentable Area of the Existing Premises and amend Tenant’s Pro Rata Share and Basic Annual Rent accordingly;

 

C.                                    WHEREAS, Landlord and Tenant desire to expand the Existing Premises to include the Suite 100 Premises (as defined below) for the Suite 100 Premises Term (as defined below); and

 

D.                                    WHEREAS, Landlord and Tenant desire to modify and amend the Lease only in the respects and on the conditions hereinafter stated.

 

AGREEMENT

 

NOW, THEREFORE, Landlord and Tenant, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, agree as follows:

 

1.                                      Definitions.  For purposes of this Amendment, capitalized terms shall have the meanings ascribed to them in the Lease unless otherwise defined herein. The Lease, as amended by this Amendment, is referred to herein as the “Amended Lease.”

 

2.                                      Pro Rata Share.  Effective as of July 1, 2013 (the “Remeasurement Date”), the table in Section 2.2 of the Lease is hereby deleted in its entirety and replaced with the following:

 

	
Definition or Provision
    	
 
    	
Means the Following
 (As of the Remeasurement Date)
    	
 
    
	
Rentable Area of Existing   Premises
    	
 
    	
19,750
    	
 
    
	
Rentable Area of Building
    	
 
    	
67,998
    	
 
    
	
Tenant’s Pro Rata Share of   Building
    	
 
    	
29.04
    	
%
    

 

BMR form dated 7/3/13

 

	
 
    	
APPROVED
   BIOMED REALTY LEGAL
    RFD
    

 

 

 

3.                                         Basic Annual Rent.  Effective as of the Remeasurement Date, the table in Section 2.3 of the Lease is hereby deleted in its entirety and replaced with the following:

 

	
Dates
    	
 
    	
Approximate
   Rentable Area
    	
 
    	
Total Monthly
    	
 
    
	
7/1/2013 – 1/31/2014
    	
 
    	
19,750
    	
 
    	
$
    	
51,177.61
    	
 
    
	
2/1/2014 – 10/31/2014
    	
 
    	
19,750
    	
 
    	
$
    	
52,713.39
    	
 
    

 

4.                                          Suite 100 Premises.  Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, approximately Five Thousand Five Hundred Twenty (5,520)  square feet of Rentable Area located on the first (1st) floor of the Building and commonly known as Suite 100 (as more particularly described on Exhibit A, the “Suite 100 Premises”).

 

4.1                                Suite 100  Premises Term.  The Term with respect to the Suite 100 Premises (the “Suite 100 Premises Term”) shall commence on the Execution Date and end on December 15, 2013.  Commencing on the Execution Date, the term “Premises” as used in the Amended Lease shall mean the Existing Premises plus the Suite 100 Premises.

 

4.2                               Basic Annual Rent for Suite 100 Premises.  In addition to Tenant’s obligations with respect to Basic Annual Rent for the Existing Premises, commencing on the Execution Date and continuing throughout the Suite 100 Premises Term, Basic Annual Rent for the Suite 100 Premises shall equal Seventeen Thousand Three Hundred Eighty-Eight Dollars ($17,388.00) per month.

 

4.3                               Tenant’s Pro Rata Share; Additional Rent. Commencing on the Execution Date and continuing throughout the Suite 100 Premises Term, Tenant’s Pro Rata Share of the Project shall be 37.16%.  Tenant’s obligation to pay Operating Expenses, the Property Management Fee and all other Additional Rent with respect to the Suite 100 Premises shall commence on the Execution Date and continue throughout the Suite 100 Premises Term.

 

4.4                               Permitted Use of Suite 100 Premises.  Notwithstanding anything to the contrary in the Amended Lease, Tenant shall (a) only be permitted to use the Suite 100 Premises for general office purposes (and for no other purposes) in conformity with all Applicable Laws and (b) not cause or permit any Hazardous Materials to be brought upon, kept or used in the Suite 100 Premises.  If Tenant fully complies with clause (b) above, then Tenant shall not be required to comply with Section 35.1 of the Lease with respect to the Suite 100 Premises.

 

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4.5                                Landlord Access to Suite 100 Premises.  Tenant acknowledges that Landlord will be showing the Suite 100 Premises to prospective tenants during the Suite 100 Premises Term.  Upon twenty-four (24) hours’ prior notice, Tenant shall permit Landlord to enter the Suite 100 Premises at any reasonable time (including during business hours) to show the Suite 100 Premises to prospective tenants, provided that Tenant shall have the right to have a representative present during any such entry.  In no event shall Landlord’s exercising its rights under this Section (a) cause Rent to abate under the Amended Lease, (b) give rise to any claim by Tenant for damages or (c) constitute a forcible or unlawful entry, a detainer or an eviction of Tenant.

 

4.6                               Condition of Suite 100 Premises.  Tenant acknowledges that (a) it is familiar with the condition of the Suite 100 Premises and, notwithstanding anything to the contrary in the Amended Lease, agrees to take the same in its condition “as is” as of the Execution Date, (b) Landlord has not made and does not hereby make any representations or warranties of any kind whatsoever, express or implied, regarding the Suite 100  Premises, including (without limitation) any representation or warranty that the Suite 100 Premises are suitable for Tenant’s intended use and (c) Landlord shall have no obligation to alter, repair or otherwise prepare the Suite 100 Premises for Tenant’s occupancy of the Suite 100 Premises or to pay for any improvements to the Suite 100 Premises.  The Suite 100 Premises have not undergone inspection by a Certified Access Specialist. Tenant’s taking possession of the Suite 100 Premises shall, except as otherwise agreed to in writing by Landlord and Tenant, conclusively establish that the Suite 100 Premises were at such time in good, sanitary and satisfactory condition and repair.  Notwithstanding the foregoing, all electrical, plumbing, HVAC and other building systems serving the Suite 100 Premises shall be in good working order and condition on the Execution Date, and Landlord shall repair any defects in such building systems existing as of the Execution Date at Landlord’s sole cost and expense.

 

4.7                               Suite 100 Termination Right.  Notwithstanding anything to the contrary in the Amended Lease, Landlord shall have the right to terminate the Amended Lease with respect to the Suite 100 Premises (the “Suite 100 Termination Right”) at any time upon delivery of thirty (30) days’ written notice to Tenant (the “Suite 100 Termination Notice”), which termination shall be effective on the date that is thirty (30) days after Landlord’s delivery of the Suite 100 Termination Notice (the “Suite 100 Termination Date”).  In the event that Landlord exercises the Suite 100 Termination Right, Tenant shall surrender the Suite 100 Premises to Landlord on or before the Suite 100 Termination Date in accordance with all of the terms and conditions of the Amended Lease.  If Tenant does not so surrender the Suite 100 Premises in accordance with all of the terms and conditions of the Amended Lease on or before the Suite 100 Termination Date, then Tenant, pursuant to Article 12 of the Lease, shall become a tenant at sufferance with respect to the Suite 100 Premises until the actual date (the “Suite 100 Surrender Date”) that Tenant surrenders the Suite 100 Premises to Landlord in accordance with all of the terms and conditions of the Amended Lease. If Landlord exercises the Suite 100 Termination Right, then the Amended Lease with respect to the Suite 100 Premises shall terminate on the later of (a) the Suite 100 Termination Date and (b) the Suite 100 Surrender Date, and shall thereafter be of no further force or effect with respect to the Suite 100 Premises, except for those provisions that, by their express terms, survive the expiration or earlier termination of the Amended Lease.

 

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5.                                      Broker.  Each of Landlord and Tenant represents and warrants to the other that it has not dealt with any broker or agent in the negotiation for or the obtaining of this Amendment and agrees to indemnify, defend and hold the other party harmless from any and all cost or liability arising out of a breach of the foregoing representation and warranty.

 

6.                                      No Default.   Tenant represents, warrants and covenants that, to the best of Tenant’s knowledge, Landlord and Tenant are not in default of any of their respective obligations under the Lease and no event has occurred that, with the passage of time or the giving of notice (or both) would constitute a default by either Landlord or Tenant thereunder. Landlord represents, warrants and covenants that, to the best of Landlord’s knowledge, Landlord and Tenant are not in default of any of their respective obligations under the Lease and no event has occurred that, with the passage of time or the giving of notice (or both) would constitute a default by either Landlord or Tenant thereunder.

 

7.                                      Notices.   Tenant confirms that, notwithstanding anything in the Lease to the contrary, notices delivered to Tenant pursuant to the Amended Lease should be sent to:

 

Receptos, Inc.

10835 Road to the Cure, Suite 205

San Diego, California 92121

Attn: Jim Schmidt

 

8.                                      Effect of Amendment. Except as modified by this Amendment, the Lease and all the covenants, agreements, terms, provisions and conditions thereof shall remain in full force and effect and are hereby ratified and affirmed. The covenants, agreements, terms, provisions and conditions contained in this Amendment shall bind and inure to the benefit of the parties hereto and their respective successors and, except as otherwise provided in the Lease, their respective assigns.  In the event of any conflict between the terms contained in this Amendment and the Lease, the terms herein contained shall supersede and control the obligations and liabilities of the parties.  From and after the date hereof, the term “Lease” as used in the Lease shall mean the Lease, as modified by this Amendment.

 

9.                                      Miscellaneous.  This Amendment becomes effective only upon execution and delivery hereof by Landlord and Tenant. The captions of the paragraphs and subparagraphs in this Amendment are inserted and included solely for convenience and shall not be considered or given any effect in construing the provisions hereof.  All exhibits hereto are incorporated herein by reference.  Submission of this instrument for examination or signature by Tenant does not constitute a reservation of or option for a lease, and shall not be effective as a lease, lease amendment or otherwise until execution by and delivery to both Landlord and Tenant.

 

10.                               Authority.  Tenant guarantees, warrants and represents that the individual or individuals signing this Amendment have the power, authority and legal capacity to sign this Amendment on behalf of and to bind all entities, corporations, partnerships, limited liability companies, joint venturers or other organizations and entities on whose behalf such individual or individuals have signed.

 

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11.                                  Counterparts.  This Amendment may be executed in one or more counterparts, each of which, when taken together, shall constitute one and the same document.

 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

 

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IN WITNESS WHEREOF,  Landlord and Tenant have hereunto set their hands as of the date and year first above written, and acknowledge that they possess the requisite authority to enter into this transaction and to execute this Amendment.

 

LANDLORD:

 

	
BMR-ROAD   TO THE CURE LP, 
    
	
a   Delaware limited partnership
    
	
 
    
	
 
    
	
By:
    	
/s/   Kevin M. Simonsen
    	
 
    
	
Name:
    	
Kevin   M. Simonsen
    	
 
    
	
Title:
    	
VP,   Real Estate Legal
    	
 
    

 

 

TENANT:

 

	
RECEPTOS,   INC.,
    	
 
    
	
a   Delaware corporation
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Faheem Hasnain
    	
 
    
	
Name:
    	
Faheem   Hasnain
    	
 
    
	
Title:
    	
CEO
    	
 
    

 

 

EXHIBIT A

 

SUITE 100 PREMISES 

 

(attached)

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