Document:

Exhibit 10.13

    

  

   

  

  
    CIBUS CORP.

    

    

    RESTRICTED STOCK UNIT AGREEMENT FOR NON-EMPLOYEE DIRECTORS

    

    

    This RESTRICTED STOCK UNIT AGREEMENT (this “Agreement”) is made as of _____________ __, 20__, by and between Cibus Corp., a Delaware corporation (the “Company”), and _________________ (the “Participant”).

    

    

    1. Certain Definitions. 

        Capitalized terms used, but not otherwise defined, in this Agreement will have the meanings given to such terms in the Company’s 2019 Equity and Incentive Compensation Plan (the “Plan”).

    

    

    2. Grant of RSUs. 

        Subject to and upon the terms, conditions and restrictions set forth in this Agreement and in the Plan, pursuant to authorization under a resolution of the Committee that was duly adopted on ________ __, 2019, the Company has granted to the
        Participant, effective _________ __, 2019 (the “Date of Grant”), __________ Restricted Stock Units (the “RSUs”).

    

    

    3. Payment of RSUs. 

        The RSUs will become payable if the Restriction Period lapses and the Participant’s right to receive payment for the RSUs becomes nonforfeitable (“Vest,” “Vesting” or “Vested”) in accordance with Section 5 and Section 6 of this Agreement.

    

    

    4. RSUs Not Transferrable. 

        None of the RSUs nor any interest therein or in any shares of Common Stock underlying such RSUs will be transferable other than by will or the laws of descent and distribution prior to payment.

    

    

    5. Vesting of RSUs. 

        Subject to the terms and conditions of Section 6 and Section 7 of this Agreement, the RSUs will Vest in full on the earlier of (a) the first anniversary of the Date of Grant and (b) the next annual meeting of the Company’s stockholders that occurs in 20__ closest
        to the first anniversary of the Date of Grant (such vesting period, the “Restriction Period”), provided that Participant shall have been
        in the continuous service as a member of the Board through such date.

    

    

    6. Alternative Vesting of
            RSUs.  Notwithstanding the provisions of Section 7 of this Agreement, and subject to the payment provisions of Section 8 hereof, the RSUs will Vest earlier than the time provided for in Section 5 under the following circumstances:

    

    

    
      
        	

              	(a)	
                Death or Disability:   If the Participant’s service as a member of
                    the Board (“Director”) is terminated as a result of the Participant’s death or Disability prior to the end of the
                    Restriction Period, a pro-rata portion of the RSUs shall Vest in an amount equal to the product of the total number of RSUs as evidenced by this Agreement, multiplied by a fraction, the numerator of which is the number of full months
                    from the Date of Grant until the date of the Participant’s termination and the denominator of which is 12.

              

      

    

    
      1

      
        

    

    
      
        	

              	(b)	
                Termination without Cause.  If the Participant’s service as a
                    Director involuntarily ceases other than for Cause (as defined in Section 6(c)(iii)) prior to the end of the Restriction
                    Period, unless otherwise provided in Section 6(c)(i), a pro-rata portion of the RSUs shall Vest in an amount equal to the
                    product of the total number of RSUs as evidenced by this Agreement, multiplied by a fraction, the numerator of which is the number of full months from the Date of Grant until the date of the Participant’s termination and the denominator
                    of which is 12.

              

      

    

    

    

    
      
        	

              	(c)	
                Change in Control:

              

      

    

    

    

    
      
        	

              	(i)	
                Upon a Change in Control occurring during the Restriction Period while the Participant is a Director, to the extent that the RSUs have not previously been
                    forfeited, the RSUs will Vest in full (except to the extent that a Replacement Award is provided to the Participant to replace, continue or adjust the outstanding RSUs (the “Replaced Award”)).  If the Participant is provided with a Replacement Award in connection with the Change in Control, then if, upon or after receiving the Replacement Award,
                    the Participant’s service as a Director (or as a member of the board of directors of any of the Company’s successors after the Change in Control (the Company or any such successors, as applicable, the “Successor Company”)) involuntarily ceases other than for Cause prior to the first anniversary of the Date of Grant, to the extent that the
                    Replacement Award has not previously been forfeited, the Replacement Award will Vest in full.

              

      

    

    

    

    
      
        	

              	(ii)	
                For purposes of this Agreement, a “Replacement

                      Award” means an award (A) of restricted stock units, (B) that has a value at least equal to the value of the Replaced Award, (C) that relates to publicly traded equity securities of the Company or its successor in the Change in
                    Control (or another entity that is affiliated with the Company or its successor following the Change in Control), (D) the tax consequences of which, under the Code, if the Participant is subject to U.S. federal income tax under the
                    Code, are not less favorable to the Participant than the tax consequences of the Replaced Award, and (E) the other terms and conditions of which are not less favorable to the Participant than the terms and conditions of the Replaced
                    Award (including the provisions that would apply in the event of a subsequent Change in Control).  A Replacement Award may be granted only to the extent it does not result in the Replaced Award or Replacement Award failing to comply
                    with Section 409A of the Code.  Without limiting the generality of the foregoing, the Replacement Award may take the form of a continuation of the Replaced Award if the requirements of the preceding sentence are satisfied.  The
                    determination of whether the conditions of this Section 6(c)(ii) are satisfied will be made by the Committee, as constituted
                    immediately before the Change in Control, in its sole discretion.

              

      

    

    

    

    
      
        	

              	(iii)	
                For purposes of this Agreement, “Cause” shall
                    have the meaning of “Cause” in any employment agreement between the Participant and the Company or any Subsidiary, or if the Participant is employed by the Company or any Subsidiary other than pursuant to an employment agreement, shall
                    mean (A) a material breach by the Participant of any agreement (other than restrictive covenant agreement) then in effect between the Participant and the Company; (B) a breach by the Participant of any restrictive covenant agreement
                    then in effect between the Participant and the Company; (C) the Participant’s conviction of or plea of “guilty” or “no contest” to a felony under the laws of the United States or any state thereof or any equivalent conviction or plea
                    under non-U.S. law; (D) any material violation or breach by the Participant of the Company’s Code of Business Conduct and Ethics, as in effect from time to time, as determined by the Board; (E) the Participant’s commission of a crime
                    involving dishonesty, breach of trust, or physical harm to any person; or (F) the Participant’s willful and continued failure to substantially perform the duties associated with the Participant’s position (other than any such failure
                    resulting from the Participant’s incapacity due to physical or mental illness), which failure has not been cured within 30 days after a written demand for substantial performance is delivered to the Participant by the Board or an
                    executive officer of the Company, as appropriate for the Participant’s position, which demand specifically identifies the manner in which the Board or such officer, as applicable, believes that the Participant has not substantially
                    performed his duties.

              

      

    

    
      2

      
        

    

    7. Forfeiture of RSUs.  Any RSUs that have not Vested pursuant to Section 5
        or Section 6 prior to the end of the Restriction Period will be forfeited automatically and without further notice on such date (or
        earlier if, and on such date that, the Participant ceases to be a Director prior to the first anniversary of the Date of Grant for any reason other than as described in Section 6).

    

    

    8. Form and Time of
            Payment of RSUs.

    

    

    
      
        	

              	(a)	
                General:  Subject to Section 5 and Section 6(b), payment for Vested RSUs will
                    be made in shares of Common Stock within 15 days following the Vesting date specified in Section 5.

              

      

    

    

    

    
      
        	

              	(b)	
                Other Payment Events.  Notwithstanding Section 6(a), to the extent that the RSUs are Vested on the dates set forth below, payment with respect to the RSUs will be made as follows:

              

      

    

    

    

    
      
        	

              	(i)	
                Change in Control.  Within 15 days of a Change in Control, the
                    Participant will receive payment for Vested RSUs in shares of Common Stock; provided, however, that if such Change in Control would not qualify as a permissible date of distribution under Section 409A(a)(2)(A) of the Code, and the regulations thereunder, and where Section 409A of
                    the Code applies to such distribution, the Participant is entitled to receive the corresponding payment on the date that would have otherwise applied pursuant to Sections 6(a) or 6(c)(ii) as though such Change in Control had not occurred.

              

      

    

    
      3

      
        

    

    
      
        	

              	(ii)	
                Death or Disability.  Within 15 days of the date of the
                    Participant’s death or the date the Participant’s service as a Director terminates as a result of his Disability, the Participant will receive payment for Vested RSUs in shares of Common Stock.

              

      

    

    

    

    
      
        	

              	(iii)	
                Termination without Cause.  Within 15 days of the date the
                    Participant’s service as a Director involuntarily ceases other than for Cause, the Participant will receive payment for Vested RSUs in shares of Common Stock.

              

      

    

    

    

    9. Payment of Dividend
            Equivalents.  With respect to each of the RSUs covered by this Agreement, the Participant shall be credited on the records of the Company with dividend equivalents in an amount equal to the amount per share of Common Stock of any
        cash dividends declared by the Board on the outstanding shares of Common Stock during the period beginning on the Date of Grant and ending either on the date on which the Participant receives payment for the RSUs pursuant to Section 6 hereof or at the time when the RSUs are forfeited in accordance with Section 7 of this Agreement.  These dividend equivalents will accumulate without interest and, subject to the terms and conditions of this Agreement, will be deferred until, and paid contingent
        upon, the vesting of the RSUs for which the dividend equivalents were credited.

    

    

    10. Detrimental Activity
            and Recapture.

    

    

    
      
        	

              	(a)	
                In the event that, as determined by the Committee, the Participant shall engage in Detrimental Activity during the Participant’s service as a Director, the
                    RSUs covered by this Agreement will be forfeited automatically and without further notice at the time of that determination notwithstanding any other provision of this Agreement.  Nothing in this Agreement prevents the Participant from
                    providing, without prior notice to the Company, information to governmental authorities regarding possible legal violations or otherwise testifying or participating in any investigation or proceeding by any governmental authorities
                    regarding possible legal violations.  For purposes of this Agreement, “Detrimental Activity” means any conduct or act determined to
                    be injurious, detrimental or prejudicial to any significant interest of the Company or any Subsidiary unless the Participant acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests
                    of the Company.

              

      

    

    
      4

      
        

    

    
      
        	

              	(b)	
                If a Restatement occurs and the Committee determines that the Participant is personally responsible for causing the Restatement as a result of the
                    Participant’s personal misconduct or any fraudulent activity on the part of the Participant, then the Committee has discretion to, based on applicable facts and circumstances and subject to applicable law, cause the Company to recover
                    all or any portion (but no more than 100%) of the RSUs earned or payable to the Participant for some or all of the years covered by the Restatement.  The amount of any earned or payable RSUs recovered by the Company shall be limited to
                    the amount by which such earned or payable RSUs exceeded the amount that would have been earned by or paid to the Participant had the Company’s financial statements for the applicable restated fiscal year or years been initially filed
                    as restated, as reasonably determined by the Committee.  The Committee shall also determine whether the Company shall effect any recovery under this Section 10(b) by: (i) seeking repayment from the Participant; (ii) reducing, except with respect to any non-qualified deferred compensation under Section 409A of the Code, the amount that would
                    otherwise be payable to the Participant under any compensatory plan, program or arrangement maintained by the Company (subject to applicable law and the terms and conditions of such plan, program or arrangement); (iii) by withholding,
                    except with respect to any non-qualified deferred compensation under Section 409A of the Code, payment of future increases in compensation (including the payment of any discretionary bonus amount) that would otherwise have been made to
                    the Participant in accordance with the Company’s compensation practices; or (iv) by any combination of these alternatives.  For purposes of this Agreement, “Restatement” means a restatement of any part of the Company’s financial statements for any fiscal year or years after the year in which the Date of Grant occurs due to material noncompliance with any
                    financial reporting requirement under the U.S. securities laws applicable to such fiscal year or years.

              

      

    

    

    

    11. Compliance with Law. 

        The Company shall make reasonable efforts to comply with all applicable federal and state securities laws; provided, however, notwithstanding any other provision of this Agreement, the Company shall not be obligated to issue any of the shares of Common Stock covered by this Agreement if the issuance
        thereof would result in violation of any such law.

    

    

    12. Adjustments. 

        Subject to Section 11 of the Plan, the Committee shall make any adjustments in the number of RSUs or kind of shares of stock or other securities underlying the RSUs covered by this Agreement, and other terms and provisions, that the Committee shall
        determine to be equitably required to prevent any dilution or enlargement of the Participant’s rights under this Agreement that otherwise would result from any (a) stock dividend, stock split, combination of shares, recapitalization or other change
        in the capital structure of the Company, (b) merger, consolidation, separation, reorganization, partial or complete liquidation or other distribution of assets involving the Company or (c) other transaction or event having an effect similar to any
        of those referred to in Section 12(a) or 12(b)
        hereof.  Furthermore, in the event that any transaction or event described or referred to in the immediately preceding sentence, or a Change in Control, shall occur, the Committee shall provide in substitution of any or all of the Participant’s
        rights under this Agreement such alternative consideration (including cash) as the Committee shall determine in good faith to be equitable under the circumstances.

    
      5

      
        

    

    13. Amendments. 

        Any amendment to the Plan will be deemed to be an amendment to this Agreement to the extent that the amendment is applicable to this Agreement; provided, however, that no amendment will adversely affect the rights of the Participant with respect to the shares of Common Stock or other securities covered by this
        Agreement without the Participant’s consent and the Participant’s consent shall not be required to an amendment that is deemed necessary by the Company to ensure compliance with Section 10D of the Exchange Act.  Notwithstanding the foregoing, the
        limitation requiring the consent of the Participant to certain amendments will not apply to any amendment that is deemed necessary by the Company to ensure compliance with Section 409A of the Code.

    

    

    14. Severability. 

        In the event that one or more of the provisions of this Agreement is invalidated for any reason by a court of competent jurisdiction, any provision so invalidated will be deemed to be separable from the other provisions of this Agreement, and the
        remaining provisions of this Agreement will continue to be valid and fully enforceable.

    

    

    15. Electronic Delivery. 

        The Company may, in its sole discretion, deliver any documents related to the RSUs and the Participant’s participation in the Plan, or future awards that may be granted under the Plan, by electronic means or request the Participant’s consent to
        participate in the Plan by electronic means.  The Participant hereby consents to receive such documents by electronic delivery and, if requested, agrees to participate in the Plan through an on-line or electronic system established and maintained
        by the Company or another third party designated by the Company.

    

    

    16. Governing Law. 

        This Agreement is made under, and shall be construed in accordance with, the internal substantive laws of the State of Delaware.

    

    

    17. Compliance with
            Section 409A of the Code.  To the extent applicable, it is intended that this Agreement and the Plan comply with, or be exempt
        from, the provisions of Section 409A of the Code, so that the income inclusion provisions of Section 409A(a)(1) of the Code do not apply to the Participant.  This
        Agreement and the Plan shall be administered in a manner consistent with this intent.  Reference to Section 409A of the Code is to Section 409A of the Internal Revenue Code of 1986, as amended, and will also include any regulations or any other
        formal guidance promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal Revenue Service.

    
      6

      
        

    

    18. Successors and
            Assigns.  Without limiting Section 4 hereof, the provisions of this Agreement shall inure to the benefit of, and be
        binding upon, the successors, administrators, heirs, legal representatives and assigns of the Participant, and the successors and assigns of the Company.

    

    

    19. Acknowledgement. 

        The Participant acknowledges that the Participant (a) has received a copy of the Plan, (b) has had an opportunity to review the terms of this Agreement and the Plan, (c) understands the terms and conditions of this Agreement and the Plan, and (d)
        agrees to such terms and conditions.

    

    

    20. Counterparts. 

        This Agreement may be executed in one or more counterparts, all of which together shall constitute but one Agreement.

    

    

     [SIGNATURES ON FOLLOWING PAGE]

    
      7

      
        

    

    	 	
            CIBUS CORP.

          
	 	 	 
	 	
            By:

          	 
	 	
            Name:

          	 
	 	
            Title:

          	 

    

    

    	 	
            Participant Acknowledgment and Acceptance

          
	 	 	 
	 	
            By:

          	 
	 	
            Name:

          	 
	 	
            Title:

          	 

    

    

  

  8Exhibit 10.14

    

     

    

    
      THIS WARRANT HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY OTHER STATE OR JURISDICTION. THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE, TRANSFERRED, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH
        RESPECT TO THE SECURITIES UNDER SUCH ACT AND ANY APPLICABLE SECURITIES LAW OF ANY STATE OR OTHER JURISDICTION OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

      

      

      	
              625,000 Series A Preferred Stock

            	
              Effective Date: December 31, 2012

            

      

      

      CIBUS GLOBAL, LTD.

      WARRANT TO PURCHASE SERIES A PREFERRED STOCK

      

      

      THIS WARRANT (the “Warrant”) between Cibus Global,
          Ltd., a company organized under the laws of the British Virgin Islands (the “Company”) and the undersigned holder of this Warrant (such person or entity and any
          successor and assign being hereinafter referred to as the “Holder”), sets forth the terms and conditions upon which the Holder is and shall be entitled, and shall and
          hereby does have the right, but not the obligation, to subscribe for and purchase from the Company 625,000 shares of Series A Preferred Stock (such Series
          A Preferred Stock or other shares of capital stock for which this Warrant may in the future become exercisable for, the “Warrant Shares”) in the Company at an exercise
          price (the “Exercise Price”) equal to US$2.00 per share. This Warrant may be exercised from time to  time and at any time in whole or in part prior to the Expiration
          Date (as defined below) and is subject to the terms and conditions set forth below. The Holder acknowledges and agrees that the Warrant Shares, when and if issued upon exercise of the Warrant hereunder, shall be subject to the terms and
          conditions of (a) the Company’s Amended and Restated Memorandum of Association in effect as of the date hereof (such agreement together with any amendments or restatements which may be adopted from time to time hereafter, being referred to as the
          “MOA”), (b) the Company’s Amended and Restated Articles of Association in effect as of the date hereof (such agreement together with any amendments or restatements which
          may be adopted from time to time hereafter, being referred to as the “AOA”); and (c) that certain Strategic Equity Alliance Agreement, dated as of September 18, 2009, by
          and among Makhteshim Agan C, LLC, as assignee of Irvita Plant Protection N.V. (“MAI”), certain of the Company’s shareholders and the Company (such agreement together
          with any existing amendment as well as any amendments or restatements which may be adopted from time to time hereafter, being referred to as the “SEA”).

      

      

      1. Term. Subject to the terms and conditions set forth
          herein, this Warrant shall be exercisable, in whole or in part, during the term commencing on the date hereof and concluding on the first to occur of the following (the “Expiration
              Date”): (a) December 31, 2024; (b) any Change of Control (as defined below) transaction; or (c) upon the initial public offering of the equity securities of the Company. For this purpose, the term “Change of Control” shall mean (i) any sale of all or substantially  all of the Company’s assets, or any sale of any material portion of the Company’s assets other than in the ordinary course of the
          conduct of the Company’s business, (ii) a merger or acquisition in which the Company is not the surviving entity, except for a transaction the principal purpose of which is to change the jurisdiction of the Company’s incorporation, (iii) any
          reverse merger in which the Company is the surviving entity but in which fifty percent (50%) or more of the then authorized shares in the Company are transferred to holders different from those who held the shares immediately prior to such
          merger; and/or (iv) any sale or transfer of fifty percent (50%) or more of the then authorized shares in the Company to any person or persons other than the then existing members of the Company.

      

      

      
        
          

      

      2. Warrant Nontransferable; Exception. Without the prior
          written consent of the Company, this Warrant shall be neither transferable nor assignable by the Holder other than to an estate planning trust controlled by Holder by will or by the laws of descent and distribution and may be exercised, during
          the Holder’s lifetime, only by the Holder, and is further subject to the limitations set forth herein below.

      

      

      3. Notice of Certain Events. In connection with a Change
          of Control, the Company will provide Holder with written notice specifying, as the case may be, the date on which the Change of Control will occur, and the time, if any is to be fixed, as of which the Holders of record of the Series A Preferred
          Stock (or such shares at the time receivable upon the exercise of this Warrant) shall be entitled to exchange their shares of Series A Preferred Stock (or such units at the time receivable upon the exercise of this Warrant) for securities or
          other property deliverable upon such Change of Control. Such notice shall be delivered at least ten (10) days prior to the date therein specified for the occurrence of the Change of Control.

      

      

      4. Exercise.

      

      

      (i) In order to exercise this Warrant with respect to all or any portion of the Warrant Shares during the times when the Warrant is
          exercisable (as described above), the Holder (or in the case of exercise after the Holder’s death, the Holder’s executor, administrator, heir or legatee, as the case may be) must take the following actions: (a) execute and deliver to the Company
          the Notice of Exercise in  the form attached hereto as Exhibit “A” and incorporated herein by this reference (the “Notice of Exercise”); (b) pay the Exercise Price for the purchased Warrant Shares by either full payment, in cash or cash equivalents, or any other form which the Company may, in its sole and absolute discretion, approve
          at the time of exercise; and (c) execute and deliver to the Company a Letter of Accession with respect to the SEA in the form attached hereto as Exhibit “B” and
          incorporated herein by this reference (the “Letter of Accession”), as well as such additional documents, instruments or agreements as the Company shall determine is
          reasonably necessary or appropriate in order to evidence or reflect any of  the foregoing. Payment of the Exercise Price shall immediately become due and shall accompany the Notice of Exercise.

      

      

      (ii) This Warrant shall be deemed to have been exercised immediately prior to the close of business on the date of its surrender for
          exercise as provided above, and the person entitled to receive the Warrant Shares issuable upon such exercise shall be treated for all purposes as the Holder of record of such Warrant Shares as of the close of business on such date. In the event
          that this Warrant is exercised in part, the Company will execute and deliver a new Warrant of like tenor exercisable for the number of shares for which this Warrant may then be exercised.

      

      

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

      

      

      6. No Impairment. Except and to the extent as waived or
          consented to by the Holder, the Company will not, by amendment of its MOA or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the
          observance or performance of any of the terms to be observed or performed hereunder by the Company, but will at times in good faith assist in the carrying out of all the provisions of this Warrant and in the taking of all such action as may be
          necessary or appropriate in order to protect the exercise rights of the Holder against impairment. Notwithstanding the foregoing, however, nothing hereunder shall be construed so as to prohibit the Company from undertaking further issuances of
          capital stock and/or such other securities or instruments, in each case, which may be exercisable or convertible with or into such capital stock in the company, to one or more third-parties or other persons, such issuances to be upon such terms
          and conditions, and for such consideration as the Company shall deem to be appropriate, it being expressly acknowledged and agreed that any such issuances may dilute the percentage interests and/or other rights which may be represented by the
          Warrant Shares when and if they shall be issued upon exercise of the Warrants hereunder.

      
        
          

      

      7. No Member Rights; Limitation of Rights. Prior to
          exercise of this Warrant, the Holder shall not be entitled to any economic rights of the Company with respect to any of the Warrant Shares. Only upon proper and timely exercise of this Warrant as described hereunder, the Holder shall, with
          respect to the purchased Warrant Shares, have a right to share in distributions with respect to such Warrant Shares in the manner set forth in the MOA and other organizational documents of the Company.

      

      

      8. Representations of Holder. The Holder of the Warrant
          agrees and acknowledges the Warrant is being acquired for its own account, for investment purposes only, it either has a prior personal or business relationship with the officers, directors or controlling persons, or by reason of his business or
          financial experience, or the business or financial experience of its professional advisors who are unaffiliated with and not compensated by the Company, could be reasonably assumed to have the capacity to protect its own interests in connection
          with the purchase of and the exercise of the Warrant, and not for the account of any other person, and not with a view to distribution, assignment or resale to others or to fractionalization in whole or in part, and the Holder further represents,
          warrants and agrees as follows: no other person has or will have a direct or indirect beneficial interest in this Warrant and the Holder will not sell, hypothecate or otherwise transfer his Warrant except in accordance with the Act and applicable
          state securities laws or unless, in the opinion of counsel for the Holder acceptable to the Company, an exemption from the registration requirements of the Securities Act and applicable law.

      

      

      9. Certain Adjustments.

      

      

      (i) Reclassification. If the Company, at any time while
          this Warrant, or any portion hereof, remains outstanding and unexpired, by the reclassification of securities or otherwise, shall 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 reclassification or other change and the Exercise Price therefore shall be appropriately adjusted, all subject to further adjustment as provided in this Section 9.

      

      

      (ii) Split, Subdivision or Combination. If the Company
          at any time while this Warrant, or any portion hereof, remains outstanding and unexpired shall split, subdivide or combine the securities as to which purchase rights under this Warrant exist, into a different number of securities of the same
          class, the Exercise Price for such securities shall be proportionately decreased in the case of a split or subdivision or proportionately increased in the case of a combination and the number of units subject  to the Warrant shall be
          proportionately increased in the case of a split or subdivision and proportionately decreased in the case of a combination.

      

      

      (iii) Certificate as to Adjustment. Upon the occurrence
          of each adjustment or readjustment pursuant to this Section 9 (other than Section 9(i)), the Company, at its expense, shall promptly compute such adjustment or readjustment in accordance with the terms hereof and furnish to the Holder of this
          Warrant a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or readjustment is based.

      

      

      10. Reservation of Shares. The Company covenants that,
          beginning on the Effective Date, and during the remainder of the term this Warrant is exercisable, the Company will reserve from its authorized and unissued shares of capital stock a sufficient number of Series A Preferred Stock to provide for
          the issuance of Series A Preferred Stock upon the exercise of this Warrant.

      
        
          

      

      11. Miscellaneous.

      

      

      (i) Successors and Assigns. The terms and provisions of
          this Warrant shall inure to the benefit of, and be binding upon, the Company and the Holder hereof and their respective successors and assigns.

      

      

      (ii) Notices. All notices under this Warrant shall be in
          writing and shall be deemed to have been given (a) upon receipt, when delivered by hand or by electronic facsimile transmission, or (b) upon actual delivery by overnight courier, or (c) three days after mailing by regular first-class mail or
          certified mail return receipt requested, addressed to each party at the addresses indicated below their signatures below or at such other address as such party may designate by ten (10) business days’ advance written notice to the other party.

      

      

      (iii) Amendment. This Warrant is being issued as part of
          a series of warrants in connection with a Series A Preferred financing transaction. Any term of this Warrant may be amended or waived with the written consent of the Company and holders of such warrants representing a majority of the Warrant
          Shares exercisable upon exercise of all such warrants outstanding at such time; provided, however, that any such amendment or waiver shall apply to all such warrants in the same manner.

      

      

      (iv) Governing Law. This Warrant and all acts and
          transactions hereunder and all rights and obligations of Holder and Company shall be governed by the internal laws (and not the conflicts of law rules) of the British Virgin Islands.

      

      

      (v) General. Should any provision of this Warrant be
          held by any court of competent jurisdiction to be void or unenforceable, such defect shall not affect the remainder of this Warrant, which shall continue in full force and effect. This Warrant and such other written agreements, documents and
          instruments as may be executed in connection herewith are the final, entire and complete agreement between Company and Holder and supersede all prior and contemporaneous negotiations and oral representations and agreements (including, without
          limitation, the Original Warrants, which shall be and hereby are amended and restated by this Warrant and thereby terminated and of no further force and effect), all of which are merged and integrated in this Warrant.  There are  no oral
          understandings, representations or agreements between the parties which are not  set forth in this Warrant or in other written agreements signed by the parties in connection herewith. This Warrant may be executed in two or more counterparts, each
          of which shall be deemed an original, but all of which shall constitute one agreement. Each of the counterparts may be signed and transmitted by facsimile and/or PDF with the same validity as if it were an original document.

      

      

      

      

      

      

      

      

      [Signature Page Follows]

      

      

      
        
          

      

      IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by a duly authorized officer and to be dated as of the date
          first above written.

      

      

      	
              “Company”

            	
              CIBUS GLOBAL LTD

            
	 	 	 
	 	
              By:

            	
              /s/ Peter Beetham

            
	 	
              Name:

            	
              Peter Beetham

            
	 	
              Its:

            	
              

              

            

      

      

      	 	
              Address:

            	
              6455 Nancy Ridge Drive, Suite 100

              San Diego, CA 92121

            

      

      

      

      

      
        
          

      

      

      

      COUNTERPART SIGNATURE PAGE

      TO WARRANT

      

      

      	 	
              ACKNOWLEDGED AND AGREED TO:

            
	 	 	 	 
	 	
              HOLDER:

            	 	 
	 	 	 	 
	 	
              Print Name of Holder:

            	
              Jean-Pierre Lehmann

            
	 	 	 	 
	 	
              /s/ Jean-Pierre Lehmann

            
	 	
              Signature

            
	 	 	 	 
	 	
              Title (if applicable):

            	 	 
	 	 	 	 
	 	
              Address:

            	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

      

      

      

      

      
        
          

      

      EXHIBIT “A”

      

      

      NOTICE OF EXERCISE

      CIBUS GLOBAL LTD.

      WARRANT ORIGINALLY ISSUED __________, 2012

      

      

      To: Cibus Global Ltd.

      

      

      
        
          	1.	
                  (Please check one):  The undersigned hereby elects to purchase ______ Series A Preferred Stock of Cibus Global Ltd. pursuant to the provisions of Section 4(i) of the attached Warrant, and tenders herewith payment of the
                      purchase price for such shares in the full amount of $_________.

                

        

      

      

      

      
        
          	2.	
                  In exercising this Warrant, the undersigned hereby confirms and acknowledges that the Series A Preferred Stock are being acquired solely for the account of the
                      undersigned and not as a nominee for any other party, and for investment, and that the undersigned will not offer, sell or otherwise dispose of any such Series A Preferred Stock except under circumstances that will not result in a
                      violation of the Securities Act of 1933, as amended, or any applicable state securities laws.

                

        

      

      

      

      
        
          	3.	
                  lease issue a new Warrant for the unexercised portion of the attached Warrant in the name of the undersigned or in such name as is specified below:

                

        

      

      

      

      	 	 	 	 	 	 
	 	 	
              (Name) (Please Print)

            
	 	 	 
	 	 	
              Social Security or other identifying Number: 

            	 	 
	 	 	 	 
	 	 	
              Address:

            	 	 	 
	 	 	 	 	 	 
	 	 	 	 	 	 
	 	 	 	 
	 	 	City, State and Zip Code	 

      

      

      

      

      
        	
                (Date)

              	 	
                (Signature)

              

      

      

      

      

      

      

      

      [Exhibit A to Warrant – Notice of Exercise]

       

        

      
        
          

      

    

    

      SCHEDULE

      

      

      Omitted Warrant Agreements

       

        

      	
              Name of Warrant Holder

            	
              End Date

            	
              Quantity

            	
              Exercise Price

            	
              Additional Terms

            
	
              Rory Riggs

            	
              September 2024

            	
              216,638

            	
              $2.00

            	
              Includes IPO Addendum*

            
	
              Rory Riggs

            	
              December 2024

            	
              600,000

            	
              $2.00

            	
              Includes IPO Addendum*

            
	
              Jean-Pierre Lehmann

            	
              September 2024

            	
              343,718

            	
              $2.00

            	 
	
              Keith Walker

            	
              September 2024

            	
              2,208

            	
              $2.00

            	 

      

      

      

      

      * IPO ADDENDUM

       

            

      The Warrant is hereby subject to the following additional terms and conditions:

       

        

      (a)        “Up-C” IPO.  In the event that, in connection
          with any desired public offering of shares of the Company, the Company causes to be created an entity to serve as the vehicle to be used to accomplish the purposes of such offering (“IPOco”),

          which IPOco is established to sell shares directly to the public for cash and then contribute the cash proceeds from such offering to the Company in exchange for shares of the Company (with shares of the Company then being exchangeable for
          equivalent shares of IPOco on a one-for-one basis), the Warrant shall, upon designation by the Holder (at the Holder’s option), and to the extend not otherwise exercised or terminated, at the time of exercise of this Warrant, be exercisable
          against the Company in exchange for delivery by the Company to Holder of that number (and class) of IPOco shares into which the Warrant Shares are exchangeable, at the same exercise price as this Warrant, in each case subject to adjustment in the
          event the ratio at which the Company’s shares may be exchanged for shares in IPOco is other than one for one.

       

        

      (b)        “Rollup” IPO.  In the event that the Company
          is reorganized, converted, merged or otherwise consolidated with or into a newly formed legal entity (a “Rollup Vehicle”) pursuant to which all or a significant portion
          of the holders of equity securities in the Company are offered and/or receive equity securities in such Rollup Vehicle, and, in connection with which, such Rollup Vehicle undertakes (or is contemplated to undertake) a public offering of equity
          securities (collectively, a “Rollup Transaction”), then the following additional provisions shall apply:

       

        

      (i)         Exchange of Warrant.  The Warrant, to the
          extent not previously exercised or terminated hereunder, shall entitle the Holder (at the Holder’s option) to contribute and convey the Warrant (free and clear of any liens or encumbrances) to the Rollup Vehicle concurrently with such Rollup
          Transaction in exchange for a designated number of Exchange Shares (defined below) of the Rollup Vehicle.  The designated number of Exchange Shares shall be the same number of shares of the Rollup Vehicle as are issued in the Rollup Transaction
          to former holders of shares of the Company of the same class as the Warrant Shares in exchange for such shares (such shares of the Rollup Vehicle as are issued to such holders of such Company shares being referred to as the “Equivalent Shares”).  The Company and the Rollup Vehicle shall utilize commercially reasonable efforts (to the extent permissible in accordance with applicable law) in order
          for the contribution and conveyance of the Warrant by the holder thereof to the Rollup Vehicle in exchange for the Exchange Shares to be treated and classified for U.S. federal tax purposes as a transaction described in Section 351(a) of the
          Internal Revenue Code of 1986, as amended.

       

        

      (ii)        Shares Issued in Exchange for Warrant.  The
          “Exchange Shares” of the Rollup Vehicle shall mean a class of equity securities of the Rollup Vehicle which are designated as a special class of securities in the Rollup
          Vehicle.  Each Exchange Share shall, except as otherwise described below, entitle the holder thereof to equivalent and parri passu voting and economic rights with respect to dividends and liquidating distributions from the Rollup Vehicle as are
          possessed by a holder of an Equivalent Share. 

      
        
          

      

      

      

      (iii)       Additional Terms of Exchange Shares. 
          Notwithstanding the foregoing, the organizational documents of the Rollup Vehicle shall provide the following additional terms and conditions relating to each Exchange Share: 

       

        

      (A)       Upon liquidation (or similar event) with respect to the Rollup Vehicle, such Exchange Share shall not be entitled to
          receive distributions in connection therewith unless and until the amounts that would have been distributable with respect to such Exchange Share (but which are no so distributed by reason of this clause) are equal to the unpaid exercise price
          for the Warrant Share(s) underlying the Warrant and for which such Exchange Share was issued (the “Unpaid Exercise Price”).

       

        

      (B)       At any time on or prior to the date which is 7 years after the date of issuance of such Exchange Share (such period, the “Exchange Period”), the holder thereof shall have the option of converting such Exchange Share into a specified number (or fraction) of Equivalent Shares, such specified
          number (or fraction) being that number (or fraction) of Equivalent Shares as shall have an aggregate Fair Market Value as of that time which is equal to the Net Share Value.  The “Net

              Share Value” shall mean the Fair Market Value of an Equivalent Share as of the date of conversion minus the Unpaid Exercise Price of the Exchange Share being converted.  The “Fair Market Value” shall mean, as of any particular date, the trailing 30-day average closing sales price for such shares as quoted on the stock exchange or market on which shares are listed or, in the absence of such
          exchange or markets, as determined by the Board of Directors of the Rollup Vehicle in good faith.

       

        

      (C)       At any time after the close of the Exchange Period, with respect to any Exchange Share which have not been converted into
          Equivalent Shares pursuant to the immediately preceding clause, the Rollup Vehicle shall have the right (but not the obligation) to purchase such Exchange Share (and the holder thereof shall be obligated to sell such Exchange Share to the Rollup
          Vehicle, free and clear of any liens or encumbrances) for a cash purchase price equal to the excess of the Net Share Value (defined above) as of such time minus the Full Share Value (as also defined above) as of such time. 

       

        

      (D)       Such additional terms and conditions as shall be determined by the Rollup Vehicle to be necessary or appropriate in order
          to evidence, reflect or give effect to any of the matters set forth above (including but not limited to such provisions as relate to time periods or procedures for giving notices of exercise, conversion or other similar matters, and/or such
          additional matters as may be necessary or appropriate in order to comply with any applicable, or potentially applicable, laws, rules, or regulations from time to time).

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00291-of-00352.parquet"}]]