Document:

Exhibit
4.3

 

THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, OR UNDER THE SECURITIES LAWS OF CERTAIN STATES AND MAY NOT
BE SOLD, TRANSFERRED, ASSIGNED, OFFERED, PLEDGED OR OTHERWISE DISTRIBUTED FOR VALUE
UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT COVERING SUCH SECURITIES.

 

WARRANT

TO PURCHASE

SHARES OF COMMON STOCK

OF

ANTE4, INC.

 

	
  shares of Common Stock

  	
  April 16, 2010

  

 

ante4, Inc.,
a Delaware corporation (the “Company”), hereby agrees that, for value received,
                                                  
(the “Holder”) or its assigns, is entitled, subject to the terms set forth
below, to purchase from the Company at any time or from time to time on or
prior to November 1, 2019 (the “Expiration Date”), up to                                               
(              )
shares of the Company’s common stock, par value $0.001 per share (the “Shares”),
at a price per share of $0.98 per share.

 

1.             Exercise of Warrant.

 

(a)           No  Vesting.  The rights
represented by this Warrant are immediately exercisable.

 

(b)           Cashless Conversion Option.  In lieu of the
payment of cash for the exercise of this Warrant, the Holder shall have the
right (but not the obligation), to require the Company to convert this Warrant
into Shares on a “cashless basis” as provided for in this Subsection 1(b) (the
“Conversion Right”).  Upon exercise of
the Conversion Right, the Company shall deliver to Holder (without payment by
the Holder of any cash) that number of Shares (the “Conversion Shares”) equal
to the quotient obtained by dividing (x) the value of this Warrant at the
time the Conversion Right is exercised (determined by subtracting the aggregate
Warrant exercise price in effect immediately prior to the exercise of the
Conversion Right from the aggregate current market price of all of the Shares
immediately prior to the exercise of the Conversion Right) by (y) the
current market price of one (1) share of the Company’s common stock
immediately prior to the exercise of the Conversion Right.  The current market price of the Company’s
common stock shall be (i) the last sale price on such date on the
principal securities exchange on which shares of the Company’s common stock are
then listed or admitted to trading, (ii) if no sale takes place on such
day on any such exchange, the average of the last reported closing bid

 

 

and asked prices on such day as officially
quoted on any such exchange, (iii) if shares of the Company’s common stock
are not then listed or admitted to trading on any stock exchange, the average
of the last reported closing bid and asked prices on such day in the
over-the-counter market, as furnished by the National Association of Securities
Dealers Automatic Quotation System or the National Quotation Bureau, Inc.,
(iv) if neither such entity at the time is engaged in the business of
reporting such prices, as furnished by any similar firm then engaged in such
business, or (v) if there is no such firm, the current market price shall
be the price at which the Company most recently issues shares of its common
stock for consideration of any kind.

 

(c)           Exercise Procedures.  The party exercising this Warrant shall
deliver hand-written notice of any exercise to the Company at least three (3) days
prior to the intended date of exercise and by the surrender of this Warrant at
the principal office of the Company and upon payment to the Company of the
purchase price for the Shares. 
Certificates for the Shares so purchased, bearing the restrictive legend
shall be delivered to the address requested by the Holder within three (3) days
after the rights represented by this Warrant have been so exercised, and,
unless this Warrant has expired, a new warrant representing the number of
Shares, if any, with respect to which this Warrant has not been exercised shall
also be delivered to the Holder within such time.  No fractional shares shall be issued upon the
exercise of this Warrant.

 

(d)           The
Company covenants and agrees that all Shares that may be issued upon the
exercise of the rights represented by this Warrant shall, upon issuance, be
duly authorized and issued, fully paid and non-assessable shares of Common
Stock.  The Company further covenants and
agrees that during the period within which the rights represented by this Warrant
may be exercised, the Company will at all times have authorized and reserved
for the purposes of issue or transfer upon exercise of the rights evidenced by
this Warrant a sufficient number of shares of Common Stock to provide for the
exercise of the rights represented by this Warrant.  The Company may require that such certificate
or certificates contain on the face thereof a legend indicating that such
shares must be sold under appropriate federal and state laws.

 

2.             Adjustment of Purchase
Price, Reorganization, etc.  In the event the Company shall at any time
hereafter subdivide or combine its outstanding shares of Common Stock, or
declare a stock dividend, the exercise price and number of Shares into which
this Warrant may convert in effect immediately prior to the subdivision,
combination or dividend shall be adjusted to maintain the pro rata
amounts for this Warrant.  In the event
of any capital reorganization or any reclassification of the shares of Common
Stock of the Company, or in the case of any consolidation with or merger of the
Company into or with another corporation, or the sale of all or a majority of
its assets to another corporation effected in such a manner that the holders of
Common Stock shall be entitled to receive stock, securities or assets with
respect to or in exchange for Common Stock, then, as a part of such
reorganization, reclassification, consolidation, merger or sale, as the case
may be, lawful provision shall be made so that the Holder of the warrant shall
have the right thereafter to receive, upon the exercise hereof, the kind and
amount of stock, securities or assets which the Holder would have been entitled
to receive if, immediately prior to such reorganization, reclassification,
consolidation, merger or sale, the Holder had held the number of Shares which
were purchasable upon the exercise of the warrant.  In any such event, an appropriate adjustment
(as determined in good faith by the Board of Directors of the Company) shall be
made in the application of the provisions

 

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set
forth herein with respect to the rights and interest thereafter of the Holder
of the warrant, such that the provisions set forth herein (including provisions
with respect to adjustments of the exercise price) shall thereafter be
applicable, as nearly as reasonably may be, in relation to any shares of stock
or other property thereafter deliverable upon the exercise of the warrant.

 

3.             Right to Call and Redeem.  If (a) the average closing bid price of
the Company’s Common Stock on NASDAQ (or other national market, exchange or
listing service) is above $2.00 per share (as appropriately adjusted for stock
splits, stock dividends, stock combinations or the like) for a period of thirty
(30) consecutive trading days, (b) there is an effective registration
statement for the resale of Common Stock underlying the Warrants on the date
the Warrants are called, and (c) the Holder is not subject to a lockup
agreement with the Company on the date the Warrants are called, then the
Company shall have the right, at any time upon thirty (30) days’ prior written
notice, to call and redeem all or any portion of this Warrant (in any such
case, the “Call Right”).  The Company
shall exercise the Call Right by delivering written notice to the Holder,
indicating the Company’s exercise of the Call Right described herein and the
date such redemption shall take place absent a valid exercise of the Warrant
(the “Redemption Date”).  Upon the
Company’s exercise of the Call Right, the purchase price for such redemption
shall equal one-tenth of One Cent ($0.001) per share issuable hereunder and
redeemed pursuant to the Call Right. 
Notwithstanding the foregoing, the Holder shall be entitled to exercise
all or any portion of the Warrant, pursuant to the terms set forth in this
Warrant, prior to the Redemption Date.

 

4.             Transferability.  This Warrant and all rights hereunder are
non-transferable without the Company’s the express written consent.

 

5.             Voting.  This Warrant shall not entitle the Holder
hereof through the use of this Warrant to any voting rights or other rights as
a shareholder of the Company.

 

6.             Reservation of Common Stock.  A number of shares of Common Stock sufficient
to provide for the exercise of this Warrant upon the basis herein set forth
shall at all times be reserved for the exercise thereof.

 

7.             Relationship to Previous
Warrant.  This Warrant is issued in
connection with that certain merger transaction by and among the Company,
Plains Energy Investments, Inc., a Nevada corporation (“Plains Energy”),
and Plains Energy Acquisition Corp.  This
Warrant supersedes and replaces that certain warrant issued to the Holder by
Plains Energy dated January 25, 2010 (the “Original Warrant”), in its
entirety, and the Holder hereby waives any and all rights set forth in the
Original Warrant and any other warrants issued by Plains Energy.

 

8.             Miscellaneous.  The Company will not by amendment of its Certificate
of Incorporation or through reorganization, consolidation, merger, dissolution
or sale, or by any other voluntary act or deed, avoid or seek to avoid the
observance or performance of any of the conditions to be observed or performed
hereunder by the Company, but will at all times in good faith assist, insofar
as it is able, in the carrying out of all provisions hereof and in the taking
of all other action which may be necessary in order to protect the rights of
the Holder hereof.

 

3

 

The representations, warranties and agreements
herein contained shall survive the exercise of this Warrant.  All Shares of Common Stock or other
securities issued upon the exercise of the warrant shall be validly issued,
fully paid and non-assessable.

 

[SIGNATURE PAGE FOLLOWS]

 

4

 

IN WITNESS WHEREOF, this
Warrant has been duly executed by the undersigned, as of the date first set
forth above.

 

	
   

  	
  ante4, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:
  Steven Lipscomb

  
	
   

  	
  Its:
  Chief Executive Officer

  

 

SIGNATURE PAGE TO

WARRANT TO PURCHASE

SHARES OF COMMON STOCK

OF ANTE4, INC.

ISSUED TO JAMES R.
SANKOVITZ

 

5

 

WARRANT EXERCISE

 

(To be signed upon exercise of warrant)

 

The undersigned, the holder of the foregoing
warrant, hereby irrevocably elects to exercise the purchase right represented
by such warrant for, and to purchase thereunder                                     
shares of common stock of ante4, Inc., to which such warrant relates and
herewith makes payment of $                      
therefore in cash or by certified check and requests that the certificate for
such share be issued in the name of, and be delivered to                                 ,
whose address is set forth below the signature of the undersigned.

 

 

	
  Dated:
                                      ,
  20

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (Signature)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (Print Name)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  (Address)

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Social Security
  or Tax Identification No.

  

 

 

Accepted
this          day of                           ,
20      .

 

	
  ante4, Inc.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By

  	
   

  	
   

  
	
  Its

  	
   

  	
   

  

 

6Exhibit 4.4

 

RESTRICTED STOCK AWARD
AGREEMENT

 

This
Restricted Stock Award Agreement (the “Agreement”) has been made as of April       ,
2010 (the “Date of Award”), by and between ante4, Inc. (the “Company”),
and James Russell Reger, who resides in Billings, Montana 59106 (the “Grantee”).

 

RECITALS

 

A.            Grantee
was a party to that certain Restricted Stock Award Agreement with Plains Energy
Investments, Inc. (“Plains Energy”), dated as of December 31, 2009
(the “Original Agreement”).

 

B.            On
April       , 2010, Plains Energy engaged in
a merger transaction with the Company and a subsidiary of the Company, pursuant
to which Plains Energy became a wholly owned subsidiary of the Company (the “Merger”).

 

C.            As
part of the Merger, the Original Agreement was terminated and replaced with
this Agreement, pursuant to which Grantee will receive restricted common stock
of the Company, par value $0.001 per share (“Common Stock”) that are subject to
the terms and conditions hereof.

 

RESTRICTED STOCK AWARD

 

The Company has made this Agreement effective as of
the Date of Award first indicated above, and concurrently has issued the shares
of Common Stock upon the following terms and conditions:

 

1.                                      Number
of Shares

 

The number of shares of Common Stock issued or
transferred under this Agreement is three-hundred ninety thousand seven-hundred
sixty-three (390,763).

 

2.                                      Rights
of Grantee as Shareholder

 

Subject to the limitations on the shares of Common
Stock issued pursuant to this Agreement during the Period of Restriction, the
Grantee, as the owner of record of the shares of Common Stock issued hereunder,
is entitled to all the rights of a shareholder of the Company, including the
right to vote, the right to receive cash or stock dividends, and the right to
receive shares in any recapitalization of the Company.  If the Grantee receives any additional shares
of Common Stock by reason of being the holder of the shares of Common Stock
issued or transferred hereunder, all the additional shares so issued shall be
subject to the provisions of this Agreement.

 

 

3.                                      Period
of Restriction

 

The restriction period under this Agreement shall
commence on the Date of Award and expire upon the earliest of the following
events (the “Period of Restriction”):

 

a.                                       at the open of
business on December 31, 2011;

 

b.                                      immediately
upon the occurrence of any event constituting a Change in Control (as defined
below); or

 

c.                                       immediately in
the event Grantee’s employment with the Company and Plains Energy is terminated
for any reason other than “For Cause” (as specified in Section 5 below).

 

Any of the following shall
constitute a “Change in Control” for the purposes hereof:

 

a.                                       The consummation of a reorganization, merger, share exchange, consolidation or similar transaction, or the sale or disposition of all or substantially all of the assets of the Company, unless, in any case, the persons beneficially owning the voting securities of the Company immediately before that transaction beneficially own, directly or indirectly, immediately after the transaction, at least fifty percent (50%) of the voting securities of the Company or any other corporation or other entity resulting from or surviving the transaction in substantially the same proportion as their respective ownership of the voting securities of the Company immediately prior to the transaction; or
 

b.                                      The Company’s
shareholders approve a complete liquidation or dissolution of the Company.

 

4.                                      Conditions
during Period of Restriction

 

During the Period of Restriction the Grantee cannot,
voluntarily or involuntarily, sell, assign, transfer, pledge, or otherwise
dispose of the nonvested shares of Common Stock issued or transferred pursuant
to this Agreement.  Any attempted sale,
assignment, transfer, pledge, or other disposition of the nonvested shares of
Common Stock issued or transferred pursuant to this Agreement in violation of
this Section 4, whether voluntary or involuntary, shall be ineffective and
the Company shall not be required to transfer the nonvested shares.

 

5.                                      Consequences
of Failure to Satisfy Conditions

 

If Grantee’s
employment with the Company and Plains Energy is terminated “For Cause” (as
defined below) before the conditions of Section 3 are satisfied; (i) the
Grantee will forfeit the nonvested shares of Common Stock issued or transferred
pursuant to this Agreement; (ii) the Grantee will assign and transfer the
certificates evidencing ownership of such nonvested shares to the Company (or
the Company may unilaterally terminate 

 

2

 

cancel such certificates if not
returned), (iii) all interest of the Grantee in such nonvested shares
shall terminate, and (iv) the Grantee shall cease to be a shareholder with
respect to such nonvested shares.

 

Each of the following
shall be grounds for terminating Grantee’s employment “For Cause”:

 

a.                                       an intentional
act of fraud, embezzlement, theft or any other material violation of law;

 

b.                                      grossly
negligent or intentional damage to the Company’s or Plains Energy’s reputation
or assets;

 

c.                                       grossly
negligent or intentional disclosure of Confidential Information and Materials
set forth in the Grantee’s Employment Agreement with the Company and Plains
Energy;

 

d.                                      the
willful and continued failure to substantially perform required duties for the
Company or Plains Energy (other than as a result of incapacity due to physical
or mental illness); or

 

e.                                       a
material breach of the Grantee’s Employment Agreement with the Company and
Plains Energy that is not cured within 14 days of receiving notice from the
Company or Plains Energy of such breach.

 

6.                                      Lapse
of Restrictions

 

At the end of the Period of Restriction, if the
conditions specified in Section 3 have been satisfied during the Period of
Restriction, all restrictions on the Common Stock shall terminate, and the
Grantee shall be entitled to receive the certificates representing the shares
of Common Stock without the legend described in Section 7 hereof, provided
that if the Grantee has attempted to violate the conditions specified in Section 4,
the Company shall have no obligation to deliver unlegended certificates to
anyone other than the Grantee.  However,
in the event of an attempted violation of the conditions specified in Section 4,
the Company shall be entitled to withhold delivery of any of the certificates
if, and for so long as, in the judgment of the Company’s legal counsel, the
Company would incur a risk of liability to any party whom such shares were
purported to be sold, transferred, pledged, or otherwise disposed.

 

7.                                      Legend
on Certificates

 

In the event a stock certificate is issued to
evidence ownership of shares of Common Stock issued or transferred pursuant to
this Agreement, each certificate so issued during the Period of Restriction
shall bear the following legend on the back side of the certificate:

 

3

 

These shares have been
issued or transferred subject to a Restricted Stock Award Agreement and are
subject to substantial restrictions, including but not limited to, a
prohibition against transfer, either voluntarily or involuntarily, and a
provision requiring surrender of these shares to the Corporation without any
payment in the event of termination of the employment of the registered owner
under certain circumstances, all as more particularly set forth in a Restricted
Stock Award Agreement, a copy of which is on file with the Corporation.

 

In any event, the Company or its transfer agent shall hold the shares
of Common Stock issued or transferred pursuant to this Agreement in escrow
during the Period of Restriction.

 

8.                                      Specific
Performance of the Grantee’s Covenants

 

By accepting this Agreement and the issuance and
delivery of the shares of Common Stock pursuant to this Agreement, the Grantee
acknowledges that the Company does not have an adequate remedy in damages for
the breach by the Grantee of the conditions and covenants set forth in this
Agreement and agrees that the Company is entitled to and may obtain an order or
a decree of specific performance against the Grantee issued by any court having
jurisdiction.

 

9.                                      Employment
with the Company

 

Nothing in this Agreement shall confer upon the
Grantee the right to continued employment with the Company or Plains Energy.

 

10.                               Section 83(b) Election

 

If the Grantee makes an election pursuant to
§ 83(b) of the Internal Revenue Code, the Grantee shall promptly file
a copy of such election with the Company.

 

11.                               Withholding
Tax

 

Grantee hereby acknowledges that Grantee is solely
liable for any and all federal, state and local taxes owed by Grantee as a
result of the Company’s issuance and any vesting of the Common Stock issued
pursuant to this Agreement.  Before a
certificate for shares of Common Stock is issued or delivered pursuant to this
Agreement or if the Grantee makes the election permitted by § 83(b) of
the Internal Revenue Code the Company may, by notice to the Grantee, require
that the Grantee pay to the Company the amount of federal, state, or local
taxes, if any, required by law to be withheld.

 

4

 

12.                               Relationship
to Original Agreement

 

This Agreement supersedes and replaces the Original
Agreement in its entirety, and Grantee hereby waives any and all rights set
forth in the Original Agreement.  Grantee
agrees and acknowledges that the Merger was not a Change in Control for
purposes of the vesting of Common Stock issued in the Original Agreement.

 

13.                               Notices

 

Any notice to be given by the Grantee under this
Agreement shall be in writing and shall be deemed to have been given only upon
receipt by the Secretary of the Company at its principal place of business, or
at such address as may be communicated in writing to the Grantee from time to
time.  Any notice or communication by the
Company to the Grantee under this Agreement shall be in writing and shall be
deemed to have been given if mailed or delivered to the Grantee at the address
listed in the records of the Company or at such address as specified in writing
to the Company by the Grantee.

 

14.                               Waiver

 

The waiver by the Company of any provision of this
Agreement shall not operate as, or be construed to be, a wavier of the same or
any other provision of this Agreement at any subsequent time for any other
purpose.

 

15.                               Termination
or Modification of Restricted Stock Award

 

The Common Stock issued hereunder shall be irrevocable
except that the Company shall have the right to revoke this Agreement at any
time during the Period of Restriction if it is contrary to law or modify this
Agreement to bring it into compliance with any valid and mandatory law or
government regulation.  In the event of
revocation of this Agreement pursuant to the foregoing, the Company may give
notice to the Grantee that the nonvested shares of Common Stock are to be
assigned, transferred, and delivered to the Company as though the Grantee’s
employment with the Company terminated on the date of the notice.

 

16.                               Section Headings

 

The section headings in this Agreement are for
convenience of reference only and shall not be deemed as part of, or germane
to, the interpretation or construction of this Agreement.

 

17.                               Determination
by Board of Directors

 

Determinations by the Company’s Board of Directors
shall be final and conclusive with respect to the interpretation of this
Agreement.

 

5

 

18.                               Governing
Law

 

The validity and construction of this Agreement
shall be governed by the laws of the State of Delaware.

 

[Signature Page Follows]

 

6

 

IN WITNESS WHEREOF, the Company has caused this
Agreement to be executed and granted in, to be effective as of the Date of
Award.

 

	
   

  	
  ante4, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  

 

 

7

 

ACCEPTANCE OF RESTRICTED
STOCK AWARD

 

The undersigned Grantee accepts this Agreement and
the three-hundred ninety thousand seven-hundred sixty-three (390,763) shares of
Common Stock issued or transferred under this Agreement and agrees to be bound
by the provisions of this Agreement, including but not limited to the
agreements and covenants of the Grantee expressed in Section 4.

 

Dated
as of the Date of Award set forth in the Agreement.

 

 

	
   

  	
   

  
	
  James Russell Reger

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