Document:

China Unitech Group, Inc.: Exhibit 10.7 - Filed by newsfilecorp.com

Exhibit 10.7  

English Summary of Small Enterprise Small Amount Credit
  Loan Contract without Mortgage Entered into by and between
  Shenzhen Junlong Culture Communication Co., Ltd. ("the Company")
  and Shenzhen Branch, Construction Bank of China ("the Creditor") dated October
  23, 2009

Main contents

	
    Contract number: ECheng 0572009727; 

  
	
    The Creditor will provide to the Company a credit with maximum amount of
      RMB 1 million for the period from October 26, 2009 to October 25, 2010;
    

  
	
    Interest rate of loan: for short term loan (less than one year), the rate
      is 20% above benchmark rate published by the People’s Bank. The interest
      shall be settled on a monthly basis. 

  
	
    The Company shall pay RMB 40,000 as credit warranty fee to the Creditor
      before receiving the loan from the Creditor. 

  
	
    The Creditor’s approval shall be obtained in case of material change
      of the Company, including transfer of the significant assets, lease out,
      reform as a company limited by shares, joint operation, combination, merger,
      division, joint venture, equity transfer, and any other activities which
      shall affect the realization of the Creditor’s rights hereunder. 

  
	
    Breach of contract penalty: adjustment of credit, cancellation of unused
      credit, imposition of punitive interest, demand prepayment of loan and other
      measures; 

  

Summary of the articles omitted 

	
    Use of credit 

  
	
    Repayment 

  
	
    Rights and obligations of Company 

  
	
    Rights and obligations of Creditor 

  
	
    Breach Liability and Remedies 

  
	
    Suspension of Credit 

  
	
    Miscellaneous 

  
	
    Dispute Settlement 

  
	
    Conditions of Effectiveness 

  
	
    AcknowledgementChina Unitech Group, Inc.: Exhibit 10.8 - Filed by newsfilecorp.com

Exhibit 10.8  

English Summary of Guaranty Contract of Maximum Amount
  (Version for Individual)( the “Contract”) Entered
  into by and between Guo Dishan (“Guarantor”) and Shenzhen Branch,
  Construction Bank of China ("the Creditor") dated October 23, 2009

Main contents: 

	
    Guaranty Contract number: Bao Cheng 0572009727. 

  
	
    Guo Dishan undertakes to assume joint and several liabilities for Shenzhen
      Junlong Culture Communication Co., Ltd. (the “Obligor”)’s
      indebtedness towards Construction Bank of China under the Small Enterprise
      Small Amount Credit Loan Contract without Mortgage (Contract number ECheng
      0572009727) and the maximum amount secured is RMB 1.2 million. 

  
	
    Guaranty Responsibility: The guaranty under this Contract shall
      be guaranty with joint and several liabilities. The Guarantor is obligated
      to pay off the debt in the event the Obligor is unable to pay off the debt
      (including the Creditor declares the debt becomes mature in advance to its
      original expiry date due to default of the Obligor or the Guarantor). 

  
	
    Scope of Guaranty: The guaranty shall cover all of the loan principal,
      interest, penalty interest, breach of contract compensation, damages, undertaking
      fee and all the expenses such as litigation cost, lawyer’s fee, notification
      cost and public notice cost etc. which is incurred to the Creditor in realizing
      its creditor’s right. 

  
	
    Guaranty period: The guaranty period is from the effective date
      of this Contract to two years after the expiry of the term of relevant agreements
      entered into under the Contract. 

  

Headlines of the articles omitted: 

	
    Independence of guaranty contract 

  
	
    Revision of master contract 

  
	
    Representation and warranty of guarantor 

  
	
    MiscellaneousChina Unitech Group, Inc.: Exhibit 10.9 - Filed by newsfilecorp.com

Exhibit 10.9  

English Summary of Purchase Contract Entered into by and
  between Shenzhen Junlong Culture Communication Co., Ltd.
  ("the Buyer") and Shenzhen SEG Industrial Investment Co., Ltd. ("the
  Seller") dated as of June 7, 2010

Main contents

	
    Contract number: SGSY20100604002; 

  
	
    The Seller will sell to the Buyer 6810 sets of Windows Operation Systems
      with total price of RMB 1,566,300; 

  
	
    Quality standard subject to the standard of the manufacturer of the products.
    

  
	
    The Buyer shall make the first installment, RMB 299,000 within 15 days
      since the execution of the contract. The rest of the price, RMB 1,267,300,
      shall be paid within 3 days after installment and testing of the products.
    

  
	
    The Seller will keep the ownership of the products before paying all the
      price under the contract. 

  
	
    The Buyer will authorize the Seller to install the products on the computers
      of the Buyer. The Seller warrants that it has obtained written authorization
      from Microsoft (China) Co., Ltd. before signing this contract 

  

Summary of the articles omitted 

	
    Details of products 

  
	
    Quality standard and packaging 

  
	
    Delivery 

  
	
    Product Receiving 

  
	
    Inspection and Acceptance 

  
	
    Liability of Breach 

  
	
    Dispute Resolution 

  
	
    MiscellaneousChina Unitech Group, Inc.: Exhibit 10.10 - Filed by newsfilecorp.com

Exhibit 10.10  

English Summary of Shenzhen Premises Lease Contract Entered
  into by and between Shenzhen Junlong Culture Communication
  Co., Ltd. ("the Company") and Zou Zhiwei ("the Landlord") dated
  September 1, 2006

Main contents

	
    The landlord will lease to the Company the premises at the third floor,
      Jianshe Rd., Pinghuan Community, Pingshan Street, Shenzhen of 1218 square
      meters for the purpose of internet café operation. 

  
	
    Term: From September 2006 to September 2011. The contract will be negotiated
      every 5 years. 

  
	
    Rental/Deposit: RMB 18,000 per month with 2 months rental as deposit. The
      rental shall be paid every month. 

  
	
    In case of late payment by the Company, the penalty is 0.03% of the rental
      per day. The landlord is entitled to terminate the contract if the payment
      has been delayed for three months. 

  
	
    If the landlord intends to take back the leased premises before the expiration
      of the contract, the landlord shall pay double of the rental with months
      written notice to the Company and compensate the Company for economic losses.
    

  
	
    The landlord is responsible for maintenance of the leased premises. 

  

Summary of the articles omitted 

	
    Other fees involved 

  
	
    Sublease and renew of contract 

  
	
    Force majeure 

  
	
    MiscellaneousChina Unitech Group, Inc.: Exhibit 10.11 - Filed by newsfilecorp.com

Exhibit 10.11  

English Summary of Shenzhen Premises Lease Contract Entered
  into by and between Shenzhen Junlong Culture Communication
  Co., Ltd. ("the Company") and Hao Changsheng ("the Landlord")
  dated December 15, 2009

Main contents

	
    The landlord will lease to the Company the premises at Suite 1010, Unit
      D, Block 1, Yuanjing Garden, Longxiang Avenue, Shenzhen of 124.81 square
      meters for the purpose of office. 

  
	
    Term: From December 1, 2009 to December 1, 2010. 

  
	
    Rental/Deposit: RMB 1860 per month with 1 month rental as deposit. The
      rental shall be paid on monthly basis. 

  
	
    The landlord may not sublease the leased premises in part or in whole to
      a third party without a prior written consent from the landlord. 

  
	
    The landlord is responsible for maintenance and safety of the leased premises.
    

  
	
    The company shall take good care of and reasonably use the premises and
      the attached facilities during the lease term. The company shall be responsible
      for the immediate repair for the damages to the leased premises or facilities
      due to the company’s improper use. In case the company fails to fix
      the damages on time, the landlord may have them repaired on the company’s
      behalf with the fees incurred born by the company. 

  

Summary of the articles omitted 

	
    Other fees involved 

  
	
    Conditions for returning deposit. 

  
	
    Maintenance of leased premises 

  
	
    Termination and amendment of agreement 

  
	
    Returning of leased premises 

  
	
    Dispute resolution 

  
	
    Registration of lease agreement 

  
	
    MiscellaneousExhibit 4.22

 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAW.  THIS WARRANT AND SUCH SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE PLEDGED, TRANSFERRED OR HYPOTHECATED IN THE ABSENCE OF SUCH REGISTRATION OR DELIVERY OF AN OPINION OF COUNSEL IN FORM AND SUBSTANCE REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE WITH THE ACT OR UNLESS SOLD IN FULL COMPLIANCE WITH RULE 144 UNDER THE ACT.

 

IASO PHARMA, INC.

 

 

Warrant for the Purchase of Shares of

Common Stock

 

	
            No. F-2
 	
            100,000 Shares
 

 

 

FOR VALUE RECEIVED, IASO PHARMA, INC., a Delaware corporation (the “Company”), hereby certifies that Timothy Hofer, its designee or its permitted assigns is entitled to purchase from the Company, at any time or from time to time commencing on the earlier of (i) September 30, 2010 and (ii) consummation of a Qualified Financing (as defined below) and prior to 5:00 P.M., New York City time, on the tenth (10th) anniversary thereof (the “Exercise Period”), 100,000 fully paid and non-assessable shares of common stock, $0.001 par value per share, as adjusted pursuant to Section 3 hereof.  The purchase price per share shall be equal to the price per share of common stock issued in the Company’s next equity financing
(or series of related equity financings) sufficient to trigger conversion of all amounts then outstanding under the Company’s senior convertible promissory notes (the “Senior Bridge Notes”) into equity securities pursuant to the terms thereof (a “Qualified Financing”).  Notwithstanding the foregoing, in the event that no such Qualified Financing occurs by September 30, 2010, then such price per share shall be equal to the fair market value of the Company’s common stock, as determined pursuant to a valuation performed by an independent appraisal firm using generally accepted valuation principles under Internal Revenue Code Section 409A (“Section 409A”).  (Hereinafter, (i) said common stock, $0.001 par value per share, of the Company, is referred to as the “Common
Stock”; (ii) the shares of the Common Stock (subject to adjustment as set forth herein) purchasable hereunder are referred to as the “Warrant Shares”; (iii) the aggregate purchase price payable for the Warrant Shares purchasable hereunder is referred to as the “Aggregate Warrant Price”; (iv) the price payable (as determined in accordance herewith) for each of the Warrant Shares hereunder is referred to as the “Per Share Warrant Price”; (v) the holder of this Warrant is referred to as the “Holder”; and (vi) the then Current Market Price per 

 

 

 

 

share of the Common Stock (the “Current Market Price”) shall be deemed to be the average closing sale price of the Common Stock for the ten (10) Trading Days (as defined below) immediately prior to such date or, in case no such reported sales take place on such days, the average of the last reported bid and asked prices of the Common Stock on such days, in either case on the principal national securities exchange on which the Common Stock is admitted to trading or listed, or if not listed or admitted to trading on any such exchange, the per share sale price of the Common Stock in the over-the-counter market as reported by the OTC Bulletin Board or another over the counter market, or if not so available, the fair market value of the Common Stock as determined in good faith by the Company’s Board of Directors.  A “Trading
Day” shall mean any day on which such principal exchange or market is open for trading, or if there is no such exchange or market, then any day except Saturdays, Sundays or federal holidays.  The Company hereby represents and warrants that the Per Share Warrant Price will equal the fair market value of a Warrant Share determined on the date of determination thereof.  Except as expressly provided in Section 3(e), the Aggregate Warrant Price is not subject to adjustment.

 

	
            1.
 	
            Exercise of Warrant.  
 

 

 (a)         This Warrant may be exercised in whole at any time, or in part from time to time, by the Holder during the Exercise Period:

 

(i)        by the surrender of this Warrant (with the subscription form at the end hereof duly executed) at the address set forth in subsection 8(a) hereof, together with proper payment of the Aggregate Warrant Price, or the proportionate part thereof if this Warrant is exercised in part, with payment for the Warrant Shares made by certified or official bank check payable to the order of, or wire transfer of immediately available funds to, the Company; or

 

 (ii)       by the surrender of this Warrant (with the cashless exercise form at the end hereof duly executed) (a “Cashless Exercise”) at the address set forth in subsection 8(a) hereof.  Such presentation and surrender shall be deemed a waiver of the Holder’s obligation to pay the Aggregate Warrant Price, or the proportionate part thereof if this Warrant is exercised in part.  In the event of a Cashless Exercise, the Holder shall exchange its Warrant for that number of Warrant Shares subject to such Cashless Exercise multiplied by a fraction, the numerator of which shall be the difference between the then Current Market Price and the Per Share Warrant Price, and the denominator of which shall be the then Current Market Price.  For purposes of any computation under this subparagraph (ii), the
then Current Market Price shall be based on the Trading Day immediately prior to the Cashless Exercise.

 

 (b)       If this Warrant is exercised in part, this Warrant must be exercised for a number of whole shares of the Common Stock and the Holder is entitled to receive a new Warrant covering the Warrant Shares that have not been exercised and setting forth the proportionate part of the Aggregate Warrant Price applicable to such Warrant Shares.  Upon surrender of this Warrant in connection with the exercise of this Warrant pursuant to the terms hereof, the Company will (i) issue a certificate or certificates in the name of the Holder for the largest number of whole shares of the Common Stock to which the Holder shall be entitled upon such exercise and, if this Warrant is exercised in whole, in lieu of any fractional share of the Common Stock to which the Holder shall be entitled, pay to the Holder cash in an amount equal to the fair 

 

 

 

value of such fractional share (determined in such reasonable manner as the Board of Directors of the Company shall determine), and (ii) deliver the other securities and properties receivable upon the exercise of this Warrant, or the proportionate part thereof, if this Warrant is exercised in part, pursuant to the provisions of this Warrant. 

 

	
            2.
 	
            Reservation of Warrant Shares; Listing.
 

 

The Company agrees that, prior to the expiration of this Warrant, the Company shall at all times (a) have authorized and in reserve, and shall keep available, solely for issuance and delivery upon the exercise of this Warrant, the shares of the Common Stock and other securities and properties as from time to time shall be receivable upon the exercise of this Warrant, free and clear of all restrictions on sale or transfer, other than under Federal or state securities laws, and free and clear of all preemptive rights and rights of first refusal and (b) if the Company hereafter lists its Common Stock on any national securities exchange, use its commercially reasonable efforts to keep the Warrant Shares authorized for listing on such exchange upon notice of issuance.

 

	
            3.
 	
            Certain Adjustments.  
 

 

 (a)       If, at any time or from time to time after the date of this Warrant, the Company shall issue or distribute to all holders of shares of Common Stock by reason of their ownership thereof evidence of its indebtedness, any other securities of the Company or any cash, property or other assets (excluding a subdivision, combination or reclassification, or dividend or distribution payable in shares of Common Stock, referred to in subsection 3(b), and also excluding cash dividends or cash distributions paid out of net profits legally available therefor (any such non-excluded event being herein called a “Special Dividend”)), the Per Share Warrant Price shall be adjusted (effective upon such issuance or distribution) by multiplying the Per Share Warrant Price then in effect by a fraction, the
numerator of which shall be the then-current Per Share Warrant Price less the fair market value (as determined in good faith by the Company’s Board of Directors) of the evidence of indebtedness, cash, securities or property, or other assets issued or distributed in such Special Dividend applicable to one share of Common Stock and the denominator of which shall be the then-current Per Share Warrant Price.  An adjustment made pursuant to this subsection 3(a) shall become effective immediately prior to the payment date but after the record date of any such Special Dividend. If such dividend, distribution, subdivision or combination is not consummated in full, the Per Share Warrant Price and Warrant Shares shall be readjusted accordingly.

 

 (b)       In case the Company shall hereafter (i) pay a dividend or make a distribution on its Common Stock in shares of Common Stock, (ii) subdivide its outstanding shares of Common Stock into a greater number of shares, (iii) combine or reverse-split its outstanding shares of Common Stock into a smaller number of shares or (iv) issue by reclassification of its Common Stock any shares of capital stock of the Company, then the Per Share Warrant Price and the number of Warrant Shares shall forthwith be proportionately decreased and increased, respectively, in the case of a subdivision, distribution or stock dividend, or proportionately increased and decreased, respectively, in the case of a combination or reverse stock split.  The Aggregate Warrant Price payable for the then total number of Warrant Shares 

 

 

 

available for exercise under this Warrant shall remain the same.  Adjustments made pursuant to this subsection 3(b) shall become effective on the record date in the case of a dividend or distribution, and shall become effective immediately after the effective date in the case of a subdivision, combination or reclassification.  If such dividend, distribution, subdivision or combination is not consummated in full, the Per Share Warrant Price and Warrant Shares shall be readjusted accordingly.

 

 (c)       In case of any capital reorganization or reclassification, or any consolidation or merger to which the Company is a party other than a merger or consolidation in which the Company is the continuing corporation, or in case of any sale or conveyance to another entity of all or substantially all of the assets of the Company, or in the case of any statutory exchange of securities with another corporation (including any exchange effected in connection with a merger of a third corporation into the Company but excluding any exchange of securities or merger with another corporation in which the Company is a continuing corporation and that does not result in any reclassification of or similar change in the Common Stock), the Holder of this Warrant shall have the right thereafter to receive on the exercise of this Warrant the kind and amount of
securities, cash or other property which the Holder would have owned or have been entitled to receive immediately after such reorganization, reclassification, consolidation, merger, statutory exchange, sale or conveyance had this Warrant been exercised immediately prior to the effective date of such reorganization, reclassification, consolidation, merger, statutory exchange, sale or conveyance and in any such case, if necessary, appropriate adjustment shall be made in the application of the provisions set forth in this Section 3 with respect to the rights and interests thereafter of the Holder of this Warrant to the end that the provisions set forth in this Section 3 shall thereafter correspondingly be made applicable, as nearly as may reasonably be, in relation to any shares of stock or other securities or property thereafter deliverable on the exercise of this Warrant; provided, however, that if the Holder of this Warrant shall have the right thereafter to cash or in the event that
the payment of securities, cash or other property as contemplated hereunder on exercise of this Warrant triggers or could reasonably be expected to trigger adverse tax consequences on the Holder of this Warrant under Section 409A, such payment shall be made to the Holder of this Warrant on the consummation of the transaction described in this Section 3(c).  The above provisions of this subsection 3(c) shall similarly apply to successive reorganizations, reclassifications, consolidations, mergers, statutory exchanges, sales or conveyances.  The Company shall require the issuer of any shares of stock or other securities or property thereafter deliverable on the exercise of this Warrant to be responsible for all of the agreements and obligations of the Company hereunder.  Notice of any such reorganization, reclassification, consolidation, merger, statutory exchange, sale or conveyance and of said provisions so proposed to be made, shall be mailed to the Holder not less than twenty (20)
days prior to such event.  A sale of all or substantially all of the assets of the Company for a consideration consisting primarily of securities shall be deemed a consolidation or merger for the foregoing purposes.

 

 (d)       No adjustment in the Per Share Warrant Price shall be required unless such adjustment would require an increase or decrease of at least $0.01 per share of Common Stock; provided, however, that any adjustments which by reason of this subsection 3(d) are not required to be made shall be carried forward and taken into account in any subsequent adjustment; provided, further, however, that adjustments shall be required and made in 

 

 

 

accordance with the provisions of this Section 3 (other than this subsection 3(d)) not later than such time as may be required in order to preserve the tax-free nature of a distribution, if any, to the Holder of this Warrant or Common Stock issuable upon the exercise hereof.  All calculations under this Section 3 shall be made to the nearest cent or to the nearest 1/100th of a share, as the case may be.  Anything in this Section 3 to the contrary notwithstanding, the Company shall be entitled to make such reductions in the Per Share Warrant Price, in addition to those required by this Section 3, as it in its discretion shall deem to be advisable in order that any stock dividend, subdivision of shares or distribution of rights to purchase stock or securities convertible or exchangeable for stock hereafter made by the Company to its stockholders shall not be taxable.

 

 (e)       The number of Warrant Shares issuable upon exercise of this Warrant shall be automatically adjusted in the event that the Company consummates a Qualified Financing on or after the date hereof, such that this Warrant is exercisable into one percent (1.0%) of the Company’s outstanding Common Stock determined on a fully diluted basis, after giving effect to such Qualified Financing (including the conversion into capital stock of all Senior Bridge Notes triggered by such Qualified Financing).  The Company shall promptly issue a replacement Warrant to Holder reflecting the aggregate number of Warrant Shares underlying this Warrant, after any adjustment provided herein.  Once the Company has consummated a Qualified Financing, then the adjustment provided for herein shall terminate.  For the avoidance of doubt, the number of Warrant Shares
underlying this Warrant shall be adjusted after giving effect to such Qualified Financing, so that the Warrant Shares equal one percent (1.0%) percent of the sum of (i) then-outstanding shares of Common Stock, plus (ii) all equity securities issued to holders of the Company’s Senior Bridge Notes pursuant to the conversion thereof triggered by the Qualified Financing, plus (iii) the equity securities issuable to investors investing directly into such Qualified Financing, in each case determined on a fully diluted basis. 

 

 (f)        Whenever the Per Share Warrant Price or the number of Warrant Shares is adjusted as provided in this Section 3 and upon any modification of the rights of the Holder in accordance with this Section 3, the Company shall promptly prepare a brief statement of the facts requiring such adjustment or modification and the manner of computing the same and cause copies of such certificate to be mailed to the Holder.  The Company may, but shall not be obligated to unless requested by the Holder, obtain, at its expense, a certificate of a firm of independent public accountants of recognized standing selected by the Board of Directors (who may be the regular auditors of the Company) setting forth the Per Share Warrant Price and the number of Warrant Shares in effect after such adjustment or the effect of such modification, a brief statement of the
facts requiring such adjustment or modification and the manner of computing the same and cause copies of such certificate to be mailed to the Holder.

 

 (g)       If the Board of Directors of the Company shall declare any dividend or other distribution with respect to the Common Stock other than a cash distribution out of earned surplus, the Company shall mail notice thereof to the Holder not less than ten (10) days prior to the record date fixed for determining stockholders entitled to participate in such dividend or other distribution.

 

 (h)       If, as a result of an adjustment made pursuant to this Section 3, the Holder thereafter surrendered for exercise shall become entitled to receive shares of two or more classes 

 

 

 

of capital stock or shares of Common Stock and other capital stock of the Company, the Board of Directors (whose determination shall be conclusive and shall be described in a written notice to the Holder promptly after such adjustment) shall determine, in good faith, the allocation of the adjusted Per Share Warrant Price between or among shares or such classes of capital stock or shares of Common Stock and other capital stock.

 

 (i)        In case any event shall occur as to which the other provisions of this Section 3 are not strictly applicable but as to which the failure to make any adjustment would not fairly protect the purchase rights represented by this Warrant in accordance with the essential intent and principles of the adjustments set forth in this Section 3 then, in each such case, the Board of Directors of the Company shall in good faith determine the adjustment, if any, on a basis consistent with the essential intent and principles established herein, necessary to preserve the purchase rights represented by the Warrants. Upon such determination, the Company will promptly mail a copy thereof to the Holder and shall make the adjustments described therein.

 

 (j)        Upon the expiration of any rights, options, warrants or conversion privileges with respect to the issuance of which an adjustment to the Per Share Warrant Price had been made, if such option, right, warrant or conversion shall not have been exercised, the number of Warrant Shares purchasable upon exercise of this Warrant, to the extent this Warrant has not then been exercised, shall, upon such expiration, be adjusted and shall thereafter be such as it would have been had it been originally adjusted (or had the original adjustment not been required, as the case may be) on the basis of (A) the number of shares of Common Stock, if any, actually issued or sold upon the exercise of such rights, options, warrants or conversion privileges, and (B) the amount of consideration actually received by the Company upon such exercise plus the amount of
consideration, if any, actually received by the Company for the issuance, sale or grant of all such rights, options, warrants or conversion privileges whether or not exercised; provided, however, that no such readjustment shall have the effect of decreasing the number of Warrant Shares purchasable upon exercise of this Warrant by an amount in excess of the amount of the adjustment initially made in respect of the issuance, sale or grant of such rights, options, warrants or conversion privileges.

 

 (k)       It is intended that any adjustment under this Section 3 shall be performed in a manner consistent with Section 409A.

 

4.         Fully Paid Stock; Taxes.  The shares of the Common Stock represented by each and every certificate for Warrant Shares delivered on the exercise of this Warrant shall, subject to compliance by the Holder with the terms hereof, at the time of such delivery, be duly authorized, validly issued and outstanding, fully paid and nonassessable, and not subject to preemptive rights or rights of first refusal imposed by any agreement to which the Company is a party, and the Company will take all such actions as may be necessary to assure that the par value, if any, per share of the Common Stock is at all times equal to or less than the then Per Share Warrant Price.  The Company shall pay, when due and payable, any and all Federal and state stamp, original issue or similar taxes which
may be payable in respect of the issue of any Warrant Share or any certificate thereof to the extent required because of the issuance by the Company of such security.

 

 

 

	
            5.
 	
            Investment Intent; Limited Transferability.
 

 

 (a)       By accepting this Warrant, the Holder represents to the Company that it understands that this Warrant and any securities obtainable upon exercise of this Warrant have not been registered for sale under Federal or state securities laws and are being offered and sold to the Holder pursuant to one or more exemptions from the registration requirements of such securities laws.  In the absence of an effective registration of such securities or an exemption therefrom, any certificates for such securities shall bear the legend set forth on the first page hereof.  The Holder understands that it must bear the economic risk of its investment in this Warrant and any securities obtainable upon exercise of this Warrant for an indefinite period of time, as this Warrant and such securities have not been registered under Federal or state
securities laws and therefore cannot be sold unless subsequently registered under such laws, unless an exemption from such registration is available.  The Holder further represents to the Company, by accepting this Warrant, that it has full power and authority to accept this Warrant and make the representations set forth herein.

 

 (b)       The Holder, by its acceptance of this Warrant, represents to the Company that it is acquiring this Warrant and will acquire any securities obtainable upon exercise of this Warrant for its own account for investment and not with a view to, or for sale in connection with, any distribution thereof in violation of the Act.  The Holder agrees, by acceptance of this Warrant, that this Warrant and any such securities issuable under this Warrant will not be sold or otherwise transferred unless (i) a registration statement with respect to such transfer is effective under the Act and any applicable state securities laws or (ii) such sale or transfer is made pursuant to one or more exemptions from the Act. 

 

 (c)       In addition to the limitations set forth in Section 1 and in accordance with the legend on the first page hereof, this Warrant may not be sold, transferred, assigned or hypothecated by the Holder except in compliance with the provisions of the Act and the applicable state securities “blue sky” laws, and is so transferable only upon the books of the Company which it shall cause to be maintained for such purpose. The Company may treat the registered Holder as it appears on the Company’s books at any time as the Holder for all purposes.  The Company shall permit the Holder or its duly authorized attorney, upon written request during ordinary business hours, to inspect and copy or make extracts from its books showing the registered Holder.  All Warrants issued upon the transfer or assignment of this Warrant will be dated the same date
as this Warrant, and all rights of the holder thereof shall be identical to those of the Holder unless, in each case, otherwise prohibited by applicable law.

 

 (d)       The Holder has been afforded (i) the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the Warrant or the exercise of the Warrant; and (ii) the opportunity to request such additional information which the Company possesses or can acquire without unreasonable effort or expense.

 

 (e)       The Holder did not (i) receive or review any advertisement, article, notice or other communication published in a newspaper or magazine or similar media or broadcast over television or radio, whether closed circuit, or generally available; or (ii) attend any seminar, 

 

 

 

meeting or investor or other conference whose attendees were, to such Holder’s knowledge, invited by any general solicitation or general advertising.

 

 (f)        The Holder is acquiring the Warrants for its own account and not with a present view to, or for sale in connection with, any distribution thereof in violation of the registration requirements of the Act, without prejudice, however, to the Holder’s right, subject to the provisions of the Warrant, at all times to sell or otherwise dispose of all or any part of such Warrant and Warrant Shares.

 

 (g)       Either by reason of such Holder’s business or financial experience or the business or financial experience of its professional advisors (who are unaffiliated with and who are not compensated by the Company or any affiliate, finder or selling agent of the Company, directly or indirectly), such Holder has the capacity to protect such Holder’s interests in connection with the transactions contemplated by this Warrant.  The Holder, by its acceptance of this Warrant, represents to the Company that it is able to fend for itself, can bear the economic risk of its investment and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the investment in this Warrant.  The Holder also represents it has not been organized for the purpose of acquiring this Warrant.

6.         Loss, etc., of Warrant.  Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant, and of indemnity reasonably satisfactory to the Company, if lost, stolen or destroyed, and upon surrender and cancellation of this Warrant, if mutilated, the Company shall execute and deliver to the Holder a new Warrant of like date, tenor and denomination.

 

7.         Warrant Holder Not Stockholder.  This Warrant does not confer upon the Holder any right to vote on or consent to or receive notice as a stockholder of the Company, as such, in respect of any matters whatsoever, nor any other rights or liabilities as a stockholder, prior to the exercise hereof; this Warrant does, however, require certain notices to the Holder as set forth herein.

 

8.         Communication.  No notice or other communication under this Warrant shall be effective or deemed to have been given unless, the same is in writing and is mailed by certified first-class mail, postage prepaid, or via recognized overnight courier with confirmed receipt, addressed to:

 

	
             
 	
            (a)
 	
            the Company at IASO Pharma, Inc., at 12707 High Bluff Drive; Suite 200;
 

San Diego, California 92130; or

 

	
             
 	
            (b)
 	
            the Holder at 49 Columbia Place, Apt. 1, Brooklyn, NY  11201 or other such address as the Holder has designated in writing to the Company.
 

 

9.         Headings.  The headings of this Warrant have been inserted as a matter of convenience and shall not affect the construction hereof.

 

 

 

10.       Applicable Law.  This Warrant shall be governed by and construed in accordance with the law of the State of New York without giving effect to the principles of conflicts of law thereof.

 

11.       Amendment, Waiver, etc.  This Warrant may be amended and the observance of any term of this Warrant may be waived, discharged or terminated only with the written consent of the Company and the Holder.

 

*  *  *  *  *

 

 

 

            IN WITNESS WHEREOF, the Company has caused this Warrant to be signed by the undersigned duly authorized officer, this 26th day of May, 2010.

 

	
             
 	
            IASO PHARMA, INC.
 
	
             
 	
             
 
	
             
 	
             
 
	
             
 	
            By:
 	
            
/s/ Matthew Wikler, M.D.
 
 
	
             
 	
             
 	
            Name:
 	
            Matthew Wikler, M.D.
 
	
             
 	
             
 	
            Title:
 	
            President
 

 

 

 

SUBSCRIPTION (cash)

 

The undersigned, ___________________, pursuant to the provisions of the foregoing Warrant, hereby agrees to subscribe for and purchase ____________________ shares of the Common Stock, par value $0.001 per share, of IASO Pharma, Inc. covered by said Warrant, and makes payment therefor in full at the price per share provided by said Warrant.

 

	
            Dated:_______________
 	
            Signature:____________________
 

 

	
             
 	
            Address:______________________
 

 

_________

 

CASHLESS EXERCISE

 

The undersigned _____________, pursuant to the provisions of the foregoing Warrant, hereby elects to exchange its Warrant for ___________________ shares of Common Stock, par value $0.001 per share, of IASO Pharma, Inc. pursuant to the Cashless Exercise provisions of the Warrant.

 

	
            Dated:_______________
 	
            Signature:____________________
 

 

	
             
 	
            Address:______________________
 

 

 

 

 

ASSIGNMENT

 

FOR VALUE RECEIVED _______________ (“Assignor”) hereby sells, assigns and transfers unto ____________________ (“Transferee”) the foregoing Warrant and all rights evidenced thereby, and does irrevocably constitute and appoint _____________________, attorney, to transfer said Warrant on the books of IASO Pharma, Inc.  By acceptance of the foregoing Warrant, Transferee shall become a Holder under said Warrant and subject to the rights, obligations and representations of Holder set forth in said Warrant.

 

ASSIGNOR:

 

	
            Dated:_______________
 	
            Signature:____________________
 

 

	
             
 	
            Address:______________________
 

 

TRANSFEREE:

 

	
            Dated:_______________
 	
            Signature:____________________
 

 

	
             
 	
            Address:______________________
 

 

PARTIAL ASSIGNMENT

 

FOR VALUE RECEIVED _______________ (“Assignor”) hereby assigns and transfers unto ____________________ (“Transferee”) the right to purchase _______ shares of Common Stock, par value $0.001 per share, of IASO Pharma, Inc. covered by the foregoing Warrant, and a proportionate part of said Warrant and the rights evidenced thereby, and does irrevocably constitute and appoint ____________________, attorney, to transfer such part of said Warrant on the books of IASO Pharma, Inc.  By acceptance of the proportionate part of foregoing Warrant, Transferee shall become a Holder under said proportionate part of said Warrant and subject to the rights, obligations and representations of Holder set forth in said Warrant.

 

ASSIGNOR:

 

	
            Dated:_______________
 	
            Signature:____________________
 

 

	
             
 	
            Address:______________________
 

 

TRANSFEREE:

 

	
            Dated:_______________
 	
            Signature:____________________
 

 

	
             
 	
            Address:______________________

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