Document:

Exhibit
10.2

    

    THIS
EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A

    CONFIDENTIAL
TREATMENT REQUEST PURSUANT TO RULE 24b-2.

    REDACTED
MATERIAL IS MARKED WITH [***] AND HAS BEEN FILED SEPARATELY WITH

    THE
SECURITIES AND EXCHANGE COMMISSION.

    

    CHINA
RIGHTS AGREEMENT

    

    This
CHINA RIGHTS AGREEMENT (“Agreement”) is made and entered into as of September 7,
2010 (the “Effective Date”), by and between Selected Value Therapeutics I, LLC,
a Delaware limited liability company (“SVT”), and ENTREMED, INC., a Delaware
corporation (“ENMD”).

    

    Recitals

     

    A.          As
of the Effective Date, ENMD has agreed to issue units of common stock and
warrants to SVT pursuant to a Securities Purchase Agreement dated as of the date
hereof.

     

    B.           ENMD
now desires to grant to SVT a right to acquire an exclusive license to develop
and commercialize ENMD’s proprietary drug product, ENMD-2076, in China, on the
terms and conditions contained herein.

     

    Agreement

     

    
      Now,
Therefore, in consideration of the foregoing recitals and the mutual
promises, representations, warranties, and covenants hereinafter set forth and
for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Parties hereto agree as set forth
herein.

    

     

    ARTICLE
1

    RIGHT TO
LICENSE

     

    1.1    
    Issuance of the
Right.

     

    (a)          As
consideration for the transactions agreed to by SVT herein, ENMD hereby grants
to SVT a Right, exercisable at any time until December 31, 2011, to acquire an
exclusive license to develop and commercialize ENMD’s proprietary drug product,
ENMD-2076, in China (the “Right”). The Right shall be exercisable by written
notice by SVT to ENMD.

     

    (b)          Upon
exercise of the Right, ENMD and SVT shall negotiate in good faith the terms and
conditions for an exclusive license agreement to develop and commercialize
ENMD-2076 in China, which terms shall, except as the parties otherwise
agree:

     

    (i)       
    be consistent with the terms described in the material
terms attached hereto as Exhibit
A (“Material Terms”);

     

    (ii)           be
commercially reasonable, except to the extent that the Material Terms otherwise
provides; and

     

    (iii)         be
consistent with comparable transactions, except as the Material Terms otherwise
provides.

     

    (c)          If
after ninety (90) days of such negotiation, ENMD and SVT are unable to agree on
the terms and conditions of such a license, either Party may send the other
Party a written notice that such Party wishes to appoint an expert panel made up
of three members to establish any unresolved terms for a license agreement
consistent with this Section 1.1.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    (i)           In
furtherance of the foregoing, each Party shall, within seven (7) days of receipt
of the notice seeking to establish such a panel, appoint one member of the panel
who is not affiliated with either Party, and the two appointed members shall,
within fourteen (14) days of such notice, appoint the third member of the panel,
who also shall not be affiliated with either Party. Each appointed member shall
also have demonstrated expertise in licensing oncology products at the clinical
stage of development, including at least seven (7) years of experience in the
pharmaceutical industry.

     

    (ii)         Each
appointed member shall enter into a written agreement providing for such
member’s compensation, and binding such member to confidentiality and non-use
provisions no less stringent than those contained in this Agreement. Each panel
member shall be compensated at a rate to be agreed to by the Parties, and the
fees and disbursements of the panel shall be shared equally by the
Parties.

     

    (iii)        The
Parties may submit such materials and arguments to the panel at a hearing to be
held within fifteen (15) days of the appointment of the third member of the
panel, and the panel shall render its judgment establishing terms as described
in this Section 1.1, by majority vote, within fifteen (15) days of such
hearing.

     

    (iv)         The
majority decision of the panel shall be binding upon the Parties, and the
Parties shall negotiate in good faith the final version of the license agreement
containing the terms established by the panel.

     

    ARTICLE
2

    TERMINATION

     

    2.1         Right to Terminate.
This Agreement and the Right shall terminate at any time upon the occurrence of
the earlier of the following:

     

    (a)           by
mutual written consent of ENMD and SVT; or

     

    (b)           December
31, 2011.

     

    2.2         Effect of
Termination. In the event of this Agreement as provided in Section 2.1,
this Agreement shall become void and have no further force or effect, provided
that no such termination shall release any Party of liability to any other Party
for damages or otherwise by reason of the breach of any of the provisions of
this Agreement and provided further that Article 3 shall survive termination of
this Agreement.

     

    ARTICLE
3

    GENERAL
PROVISIONS

     

    3.1        Expenses. Whether or
not the Right is consummated, each Party will pay its own fees and expenses
incident to the negotiation, preparation and execution of this Agreement and any
resulting license agreement, including all legal, accounting and advisory fees.
Should any suit or other action be brought hereunder, the attorneys’ fees and
expenses of the prevailing Party(ies) shall be paid by the losing Party(ies) to
such action.

     

    3.2         Notices. Any notice
or other communication required or permitted to be delivered to any Party under
this Agreement shall be in writing and shall be deemed properly delivered, given
and received when delivered (by hand, by registered mail, by courier or express
delivery service or by facsimile) to the address or facsimile telephone number
set forth beneath the name of such Party below (or to such other address or
facsimile telephone number as such Party shall have specified in a written
notice given to the other Parties).

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    If to
SVT:

    

    c/o Selected Value Therapeutics I,
LLC

    ******************************

    ******************************

    Attention: ******

    

    If to
ENMD:

    

    9640
Medical Center Drive

    Rockville,
MD 20850

    Fax:
(240) 864-2601

    Attention:
Executive Chairman

    

    with a
copy to:

    

    Arnold & Porter LLP

    555 12th St.,
N.W.

    Washington, D.C. 20004

    Fax: (202) 942-5999

    Attention: Richard E.
Baltz

    

    3.3         Publicity. The
Parties agree that, except as may otherwise be required by applicable laws or
orders, and except as may be authorized in this Section 3.3, no information
concerning this Agreement and the transactions contemplated herein shall be made
public by the Parties without the prior written consent of the other Party.
Neither Party shall issue or release any media release or public announcement
(including any announcements made via any posting on the World Wide Web or
Internet) regarding this Agreement or disclosing any term or condition herein
without the prior written consent of the other Party. Notwithstanding the
foregoing, each Party shall have the right to issue media releases and other
statements, immediately and without the prior consent of the other Party that
disclose any information required by the rules and regulations of the Securities
and Exchange Commission, or applicable law.

     

    3.4         Severability. If any
term or other provision of this Agreement is held to be invalid, illegal or
incapable of being enforced by any rule of law, or public policy, all other
conditions and provisions of this Agreement shall nevertheless remain in full
force and effect. If the final judgment of a court of competent jurisdiction
declares that any term or provision hereof is invalid or unenforceable, the
Parties agree that the court making such determination shall have the power to
limit the term or provision, to delete specific words or phrases, or to replace
any invalid or unenforceable term or provision with a term or provision that is
valid and enforceable and that comes closest to expressing the intention of the
invalid or unenforceable term or provision, and this Agreement shall be
enforceable as so modified. In the event such court does not exercise the power
granted to it in the prior sentence, the Parties agree to replace such invalid
or unenforceable term or provision with a valid and enforceable term or
provision that will achieve, to the extent possible, the economic, business and
other purposes of such invalid or unenforceable term.

     

    3.5         Entire Agreement.
This Agreement constitutes the entire agreement between the Parties with respect
to the subject matter hereof and supersedes all prior agreements and
undertakings, both written and oral, among the Parties with respect to the
subject matter hereof and thereof.

     

    [***]
Represents confidential material which has been redacted and filed separately
with the Commission pursuant to a request for confidential treatment in
accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A
complete version of this exhibit has been filed separately with the Securities
and Exchange Commission.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3.6         Successors and Assigns;
Assignment. This Agreement shall be binding upon ENMD and its successors
and permitted assigns (if any), and SVT and its successors and permitted assigns
(if any). This Agreement shall inure to the benefit of ENMD and SVT and the
respective successors and assigns (if any) of the foregoing. This Agreement
shall not be assigned by any Party (other than to an affiliate of SVT) whether
by operation of law or otherwise without the prior written consent of the other
party, which consent will not be unreasonably withheld or delayed; provided,
however, that SVT may freely assign any or all of its rights under this
Agreement, in whole or in part, to any successor to all or substantially all of
the business of SVT to which the Agreement relates, whether by merger,
acquisition of assets or otherwise, without obtaining the consent or approval of
ENMD or of any other Person.

     

    3.7         Parties in Interest.
Nothing in this Agreement, express or implied, is intended to or shall confer
upon any other Person any right, benefit or remedy of any nature whatsoever
under or by reason of this Agreement.

     

    3.8         Governing
Law.

     

    (a)           This
Agreement shall be governed by, and construed in accordance with, the laws of
the State of New York, regardless of the laws that might otherwise govern under
applicable principles of conflicts of laws thereof.

     

    (b)           The
Parties hereto hereby submit to the jurisdiction of the courts of New York or
the courts of the United States District Court located in the New York City, New
York in respect of the interpretation and enforcement of the provisions of this
Agreement and any related agreement, certificate or other document delivered in
connection herewith and hereby waive, and agree not to assert, any defense in
any action, suit or proceeding for the interpretation or enforcement of this
Agreement and any related agreement, certificate or other document delivered in
connection herewith, that they are not subject thereto or that such action, suit
or proceeding may not be brought or is not maintainable in such courts or that
this Agreement may not be enforced in or by such courts or that their property
is exempt or immune from execution, that the suit, action or proceeding is
brought in an inconvenient forum, or that the venue of the suit, action or
proceeding is improper.

     

    3.9         Enforcement of
Agreement. The Parties hereto agree that irreparable damage would occur
to the Parties if any of the provisions of this Agreement were not performed in
accordance with its specific terms or were otherwise breached. It is accordingly
agreed that the Parties would not have an adequate remedy at law and therefore
will be entitled to seek an injunction or injunctions to prevent breaches of
this Agreement and to enforce specifically the terms and provisions hereof, this
being in addition to any other remedy to which the Parties are entitled
hereunder, at law or in equity.

     

    3.10       Headings. The
descriptive headings contained in this Agreement are included for convenience of
reference only and shall not affect in any way the meaning or interpretation of
this Agreement.

     

    3.11       Counterparts. This
Agreement may be executed and delivered (including by facsimile transmission) in
one or more counterparts, and by the different Parties in separate counterparts,
each of which when executed and delivered shall be deemed to be an original but
all of which taken together shall constitute one and the same
agreement.

     

    3.12       Waiver. No failure on
the part of either Party to exercise any power, right, privilege or remedy under
this Agreement, and no delay on the part of either Party in exercising any
power, right, privilege or remedy under this Agreement, shall operate as a
waiver of such power, right, privilege or remedy; and no single or partial
exercise of any such power, right, privilege or remedy shall preclude any other
or further exercise thereof or of any other power, right, privilege or remedy.
No Party shall be deemed to have waived any claim arising out of this Agreement,
or any power, right, privilege or remedy under this Agreement, unless the waiver
of such claim, power, right, privilege or remedy is expressly set forth in a
written instrument duly executed and delivered on behalf of such Party; and any
such waiver shall not be applicable or have any effect except in the specific
instance in which it is given.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3.13      Further Assurances.
Each Party hereto shall execute and cause to be delivered to the other Parties
hereto such instruments and other documents, and shall take such other actions,
as such other Party may reasonably request for the purpose of carrying out or
evidencing any of the transactions and other matters contemplated by this
Agreement.

     

    3.14      Amendment and Waiver.
This Agreement may not be amended, modified, altered or supplemented other than
by means of a written instrument duly executed and delivered on behalf of SVT
and ENMD.

     

    end
of page

    [signatures
appear on following page]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, the Parties have caused this Agreement to be executed and
delivered as of the date first set forth above.

     

    
      
        
          
            
              
                
                  
                    
                      
                        
                          	 
      	
                                  Selected
      Value Therapeutics I, LLC

                                	 
      
	 
      	 
      	 
      
	 
      	
                                  By:
      Selected Value Therapeutics GP, LLC, its managing
member

                                
	 
      	 
      	 
      
	 
      	
                                  By: 

                                	
                                  /s/ ******

                                	 
      
	 
      	 
      	
                                  Name: ******

                                	 
      
	 
      	 
      	
                                  Title: Managing
      Member

                                	 
      

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
          
            
              	 
      	
                      EntreMed
      Inc.

                    	 
      
	 
      	 
      	 
      
	 
      	
                      By: 

                    	
                      /s/ Michael Tarnow

                    	 
      
	 
      	 
      	
                      Name: Michael
      M. Tarnow

                    	 
      
	 
      	 
      	
                      Title:
      Executive Chairman

                    	 
      

            

          

        

      

    

    

    [***] Represents confidential material
which has been redacted and filed separately with the Commission pursuant to a
request for confidential treatment in accordance with Rule 24b-2 of the
Securities Exchange Act of 1934, as amended. A complete version of this exhibit
has been filed separately with the Securities and Exchange
Commission.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Exhibit
A

     

    China Rights Material
Terms

     

    Selected
Value Therapeutics and EntreMed

     

    Material
Terms

     

    September
7, 2010

     

    These
“Material Terms” outline the terms of an agreement under negotiation by Selected
Value Therapeutics I, LLC (“SVT”) and EntreMed Inc. (“ENMD”). Subject to the
provisions hereof, as contemplated by a China Rights Agreement between the
parties dated September 7, 2010, the parties intend to negotiate a potential
license and supply agreement for the commercialization of ENMD’s proprietary
product, ENMD-2076 (the “Product”) in specified jurisdictions (collectively, the
“Territory”), on substantially the terms set forth below. These Material Terms
are key terms and conditions which, in the event that SVT exercises its Right
(as defined in the China Rights Agreement), shall be included in a mutually
acceptable and fully-integrated license and supply agreement (“License
Agreement”) in accordance with the China Rights Agreement.

     

    
      
        
          
            	
                    I.
      Product

                  	 
      	
                    ENMD’s
      proprietary drug product, ENMD-2076 (the “Product”)
      ***********.

                  
	 
      	 
      	 
      
	
                    II.
      Licensed Rights

                  	 
      	
                    ENMD
      will grant SVT an exclusive license (to the exclusion of all third
      parties, including ENMD and its affiliates) to use, develop, import, offer
      for sale, market, commercialize, distribute and sell Product for use in
      the Field throughout the Territory under the following Licensed
      Rights:

                  
	 
      	 
      	 
      
	 
      	 
      	
                    (I)

                  	
                    Patents:
      Existing Chinese Patent Application No. 200680044656.7, filed September
      29, 2006, and Hong Kong Patent Application No. 081129878.4 filed November
      17, 2008; together with all other ENMD patent applications (divisionals,
      continuations-in-part, reissues, renewals, etc.) pending in respect of the
      Product for use in the Field in any jurisdiction in the Territory;
      and

                  
	 
      	 
      	 
      	 
      
	 
      	 
      	
                    (II)

                  	
                    Know-How:
      All information and data provided by ENMD to SVT and related to ENMD-2076
      in the Territory under the License Agreement.

                  
	 
      	 
      	 
      
	 
      	 
      	
                    The
      License Agreement shall provide that the Patents and Know-How shall be and
      remain the property of ENMD, subject to the exclusive Licensed Rights
      granted to SVT thereunder.

                  
	 
      	 
      	 
      
	
                    III.
      Improvements

                  	 
      	
                    Any
      Improvements to the Patents and Know-How shall be and remain the property
      of ENMD.

                  
	 
      	 
      	 
      
	
                    IV.
      Field

                  	 
      	
                    ENMD-2076
      as a single ingredient Product for treatment of cancer in humans (the
      “Field”). Combination of the Product with other active drug ingredients
      will result in a new product from a regulatory point of view and will be
      made part of the license to SVT on terms to be included in the License
      Agreement.

                  
	 
      	 
      	 
      
	
                    V.
      Territory

                  	 
      	
                    People’s
      Republic of China, including Hong Kong and Macau; and
    Taiwan.

                  

          

        

      

    

     

    [***]
Represents confidential material which has been redacted and filed separately
with the Commission pursuant to a request for confidential treatment in
accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A
complete version of this exhibit has been filed separately with the Securities
and Exchange Commission.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      
        
          	
                  VI.
      Sublicensing, Subcontracting and Distribution

                	 
      	
                  SVT
      may not sublicense or subcontract to any third party, or appoint any
      distributor, except with the prior written consent of ENMD, which may not
      be unreasonably withheld or delayed. For any sublicense granted, SVT will
      pay to ENMD ********.

                
	 
      	 
      	 
      
	
                  VII.
      Agreement Payments

                	 
      	
                  SVT
      will make the following payments to ENMD under the License
      Agreement:

                  ******************************************************************

                
	 
      	 
      	 
      
	
                  VIII.
      Reports

                	 
      	
                  The
      License Agreement will contain reporting requirements for SVT,
      including:

                
	 
      	 
      	 
      
	 
      	 
      	
                  (I)

                	
                  Quarterly
      clinical trial and other development cost reports;

                
	 
      	 
      	
                  (II)

                	
                  Quarterly
      clinical trial progress reports;

                
	 
      	 
      	
                  (III)

                	
                  Monthly
      sales reports vs. forecast and budget;

                
	 
      	 
      	
                  (IV)

                	
                  Quarterly
      royalty reports including payments; and

                
	 
      	 
      	
                  (V)

                	
                  Periodic
      progress reports in respect of applications for marketing approvals
      throughout the Territory;

                
	 
      	 
      	
                  in
      each case, broken down on a jurisdiction-by-jurisdiction basis. All
      reports will be subject to audit or review by ENMD or an
      appointee.

                
	 
      	 
      	 
      
	
                  IX.
      Clinical development

                   

                	 
      	
                  SVT
      will be responsible for all clinical development and regulatory costs
      related to obtaining regulatory approval in the Territory, pursuant to a
      Development Plan to be agreed upon by the parties and attached to the
      License Agreement, with such changes as the parties agree to make from
      time to time. It is understood that SVT will have control of the necessary
      regulatory submissions to the SFDA. Any clinical trial will be carried out
      by a CRO mutually acceptable to SVT and ENMD, each acting reasonably, and
      selection of sites for clinical trials will be mutually agreed upon by SVT
      and ENMD, each acting reasonably.

                
	 
      	 
      	 
      
	
                  X.
      Product registrations

                   

                	 
      	
                  SVT
      will be responsible for obtaining and maintaining product registrations in
      the Territory and will carry the administrative costs and SVT personnel
      costs associated with this responsibility. SVT will own the product
      registrations in the Territory subject to reversion to ENMD upon
      termination of the license.

                
	 
      	 
      	 
      
	
                  XI.
      Sales and Marketing

                	 
      	
                  SVT
      will be responsible for all selling costs associated with the Product
      under the License Agreement (sales, marketing, advertising, promotion,
      etc). SVT will ensure that in each jurisdiction of the Territory at the
      time of Product launch sales representatives will be trained and ready.
      Sales and marketing plans will be presented once yearly to joint marketing
      committee meetings.

                  The
      License Agreement will provide for standard diligence requirements
      including but not limited to objectively measurable performance criteria
      for SVT.

                
	 
      	 
      	 
      
	
                  XII.
      Supply of Product

                	 
      	
                  ENMD
      will be the exclusive manufacturer and supplier (either directly or
      through an Affiliate or contract manufacturer of its choice) of the
      Product under the License Agreement. Backup manufacturing capability to be
      discussed in the event ENMD cannot
supply.

                

        

      

    

     

    [***]
Represents confidential material which has been redacted and filed separately
with the Commission pursuant to a request for confidential treatment in
accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A
complete version of this exhibit has been filed separately with the Securities
and Exchange Commission.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          	
                  XIII.
      Supply Price

                	 
      	
                  The
      supply price for ENMD-2076 will be finalized as a part of the License
      Agreement, and be based on
      ********************************************************.

                
	 
      	 
      	 
      
	
                  XIV.
      Committee(s)

                	 
      	
                  The
      parties will form a Joint Steering Committee to govern the activities of
      the parties as they relate to the Product. Specifically, the Joint
      Steering Committee will have oversight of development of the Product in
      the Territory. The Joint Steering Committee will oversee the development
      and obtaining regulatory approval of the Product in the Territory pursuant
      to a Development Plan approved by the Joint Steering Committee and
      EntreMed. Any amendments to the Development Plan would require approval of
      the Joint Steering Committee and EntreMed. The Joint Steering Committee
      and EntreMed will oversee the supply and manufacture of API and Licensed
      Product formulations for the Territory as part of the Development Plan.
      The Joint Steering Committee will meet on a regular basis, but at least
      every 6 months until the last marketing approval of the Product in the
      Territory. In the event of a dispute which cannot be resolved by the
      senior executives of both parties acting in good faith, ENMD will make the
      final decision.

                
	 
      	 
      	 
      
	
                  XV.
      Rights of First Refusal

                	 
      	
                  *************************

                
	 
      	 
      	 
      
	
                  XVI.
      Non-competition

                	 
      	
                  Throughout
      the term of the License Agreement, subject to applicable law in the
      Territory, SVT will not commercialize any competing cancer products for
      use in humans in the Territory; it being understood that, in consideration
      for the exclusive rights to be granted under the License Agreement, ENMD
      will be entitled to the broadest non-competition protection legally
      available in specific jurisdictions throughout the Territory. SVT and its
      sublicensees shall use a level of effort in developing and commercializing
      the Product that is equal to or greater than that of any other product
      that it is then developing or commercializing, and SVT and its
      sublicensees may not reduce its level of such effort as a result of any
      other cancer product that it is then developing or
      commercializing.

                
	 
      	 
      	 
      
	
                  XVII.
      Standstill Agreement

                	 
      	
                  A
      standstill agreement, pursuant to which SVT undertakes not to attempt,
      directly or indirectly, to obtain control of ENMD during the term of the
      License Agreement, will be negotiated.

                
	 
      	 
      	 
      
	
                  XVIII.
      Term; Termination

                	 
      	
                  The
      Licenses granted under the License Agreement will remain in force for as
      long as SVT or its affiliates, distributors and/or sublicensees sell
      Product subject always to normal course termination rights of the Parties
      in respect of breach, insolvency, etc. ENMD will have the right to
      terminate the License Agreement if SVT has not commenced clinical
      development of the Product within six months of the submission by ENMD of
      an NDA filing in the US.

                
	 
      	 
      	 
      
	
                  XIX.
      Governing Law; Dispute Resolution

                	 
      	
                  These
      Material Terms and the License Agreement will be governed by and
      interpreted in accordance with the laws of the State of New York. The
      License Agreement will also contain an alternative dispute resolution
      clause.

                

        

      

    

     

    [***]
Represents confidential material which has been redacted and filed separately
with the Commission pursuant to a request for confidential treatment in
accordance with Rule 24b-2 of the Securities Exchange Act of 1934, as amended. A
complete version of this exhibit has been filed separately with the Securities
and Exchange Commission.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      
        
          	
                  XX.
      Miscellaneous

                	 
      	
                  The
      License Agreement will contain normal course provisions relating to, among
      other things, diligence requirements with respect to Product development
      and marketing activities, amendment of royalty rate due to post grant
      events such as loss of patent protection or other competition,
      representations and warranties, early termination, indemnification,
      assignment, change of control and confidentiality.

                
	 
      	 
      	 
      
	
                  XXI.Confidentiality

                	 
      	
                  No
      disclosure or announcement, public or otherwise, in respect of the matters
      contained in these Material Terms, will be made by any other party hereto
      without the prior agreement of the other party as to timing, content, and
      methods, provided that the obligations herein will not prevent any party
      from making, after consultation with the other party, such disclosure as
      its counsel advises is required by any applicable laws or
      regulations.

                
	 
      	 
      	 
      
	
                  XXII.
      Assignment

                	 
      	
                  The
      License Agreement will not be assignable by SVT without the prior written
      consent of ENMD, which consent will not be unreasonably withheld or
      delayed. Notwithstanding the foregoing, SVT may make such an assignment
      without ENMD consent to its affiliates or to a successor to substantially
      all of the business of SVT to which the License Agreement relates, whether
      pursuant to a merger, sale of stock, sale of assets or other
      transaction.

                
	 
      	 
      	 
      
	
                  XXIII.
      Currency; Inflation

                	 
      	
                  All
      references to Dollars and to $ herein shall be to the currency of the
      United States Dollar. Milestone payments referred to herein shall be
      indexed to an inflationary measure to be agreed between the
      parties.

                
	 
      	 
      	 
      
	
                  XXIV.
      Expenses

                	 
      	
                  Each
      party will be responsible for its and its financial and legal advisors’
      expenses associated with the transactions referred to
    herein.

                
	 
      	 
      	 
      
	
                  XXV.
      Binding Terms

                	 
      	
                  The
      provisions entitled “Confidentiality” and “Expenses” in these Material
      Terms shall be binding on the parties hereto. No other portion of these
      Material Terms are intended at the date hereof to represent enforceable
      provisions, unless and until the parties negotiate a License Agreement if
      and when SVT exercises its Right as set forth in the China Rights
      Agreement. The terms of this Material Terms document will be binding at
      such time to the extent that the parties agree to such terms as part of a
      License Agreement.EXHIBIT
4.1

     

    EXECUTION
COPY

     

    NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE
SECURITIES INTO WHICH THESE SECURITIES ARE EXERCISABLE HAVE BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED
(I) IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL, IN A
FORM REASONABLY ACCEPTABLE TO THE COMPANY, THAT REGISTRATION IS NOT REQUIRED
UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID
ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION
WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED
BY THE SECURITIES.

     

    
      
        

      

    

    HealthWarehouse.com,
Inc.

     

    FORM
OF COMMON STOCK PURCHASE WARRANT

     

    
      
        	
                Number
      of shares:

              	
                [                      ]

              
	 
      	 
      
	
                Holder:

              	 
      
	 
      	 
      
	
                Expiration
      Date:

              	
                 November
      8, 2015

              
	 
      	 
      
	
                Exercise
      Price per Share:

              	
                $3.00
      (Three dollars per share)

              

      

    

     

    HealthWarehouse.com,
Inc., a corporation organized and existing under the laws of the State of
Delaware (the “Company”),
hereby certifies that, for value received, ____________________., or its
registered assigns or permitted transferees (the “Warrant
Holder”), is entitled, subject to the terms set forth below, to purchase
from the Company _________ shares, as adjusted from time to time as provided in
Section 7 hereof, of common stock, $0.001 par value (the “Common
Stock”), of the Company (each such share, a “Warrant
Share” and all such shares, the “Warrant
Shares”) at a price of $3.00 (three dollars) per Warrant Share (the
“Exercise
Price”), at any time and from time to time from and after the date hereof
and through and including 5:00 p.m. New York City time on November 8, 2015 (the
“Expiration
Date”), and subject to the following terms and
conditions.  This Warrant is being issued to the Holder pursuant to
that certain Securities Purchase Agreement, dated as of November 8, 2010, by and
between the Company and the Holder (the “Purchase
Agreement”).  All capitalized terms used but not otherwise
defined herein have the meanings given to them in the Purchase
Agreement.

     

    1.            
Registration of Warrant.  The Company shall register this Warrant
upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Warrant Holder hereof from time to
time.  The Company may deem and treat the registered Warrant Holder of this
Warrant as the absolute owner hereof for the purpose of any exercise hereof or
any distribution to the Warrant Holder, and for all other purposes, and the
Company shall not be affected by notice to the contrary.

     

    2.            
Investment Representation.  The Warrant Holder by accepting this
Warrant represents that the Warrant Holder is acquiring this Warrant for its own
account or the account of an accredited investor affiliate for investment
purposes and not with the view to any offering or distribution and that the
Warrant Holder will not sell or otherwise dispose of this Warrant or the
underlying Warrant Shares in violation of applicable securities laws. 
Subject to Section 10 hereof, the Warrant Holder acknowledges that the
certificates representing any Warrant Shares will bear a legend indicating that
they have not been registered under the United States Securities Act of 1933, as
amended (the “1933
Act”) and may not be sold by the Warrant Holder except pursuant to an
effective registration statement or pursuant to an exemption from registration
requirements of the 1933 Act and in accordance with federal and state securities
laws. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    3.            
Validity of Warrant and Issue of Shares.  The Company represents and
warrants that this Warrant has been duly authorized and validly issued and
warrants and agrees that all of Common Stock that may be issued upon the
exercise of the rights represented by this Warrant will, when issued upon such
exercise, be duly authorized, validly issued, fully paid and nonassessable and
free from all taxes, liens and charges with respect to the issue thereof. 
The Company further warrants 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 a sufficient number of Common Stock to
provide for the exercise of the rights represented by this Warrant.

     

    
      4.                                     
Registration of Transfers and Exchange of Warrants.

    

     

    a.  All or any
portion of this Warrant shall be assignable or transferable by Warrant Holder to
a subsidiary, parent, general partner, limited partner, retired partner,
affiliate, member or retired member, or stockholder of a Holder that is a
corporation, partnership or limited liability company,  subject to
such terms and conditions with respect to such assignment or transfer as Warrant
Holder shall determine.

     

    b. Subject to compliance with
the legend set forth on the face of this Warrant, the Company shall register the
transfer of any portion of this Warrant in the Warrant Register, upon surrender
of this Warrant with the Form of Assignment attached hereto duly completed and
signed, to the Company at the office specified in or pursuant to Section
12.  Upon any such registration or transfer, a new warrant to purchase
Common Stock, in substantially the form of this Warrant (any such new warrant, a
“New
Warrant”), evidencing the portion of this Warrant so transferred shall be
issued to the transferee and a New Warrant evidencing the remaining portion of
this Warrant not so transferred, if any, shall be issued to the transferring
Warrant Holder.  The acceptance of the New Warrant by the transferee
thereof shall be deemed the acceptance of such transferee of all of the rights
and obligations of a Warrant Holder of a Warrant.

     

    c. This Warrant is
exchangeable, upon the surrender hereof by the Warrant Holder to the office of
the Company specified in or pursuant to Section 12 for one or more New Warrants,
evidencing in the aggregate the right to purchase the number of Warrant Shares
which may then be purchased hereunder.  Any such New Warrant will be dated
the date of such exchange.

     

    
      5.                                     
Exercise of Warrants.

    

     

    a.  Upon surrender of
this Warrant with the Form of Election to Purchase attached hereto duly
completed and signed to the Company, at its address set forth in Section 12, and
upon payment and delivery of the Exercise Price per Warrant Share multiplied by
the number of Warrant Shares that the Warrant Holder intends to purchase
hereunder, in lawful money of the United States of America, in cash or by
certified or official bank check or checks, to the Company, all as specified by
the Warrant Holder in the Form of Election to Purchase, the Company shall
promptly (but in no event later than 7 business days after the Date of Exercise
(as defined herein)) issue and deliver or cause to be issued  and cause to
be delivered to or upon the written order of the Warrant Holder and in such name
or names as the Warrant Holder may designate (subject to the restrictions on
transfer described in the legend set forth on the face of this Warrant), a stock
certificate for the number of Warrant Shares issuable upon such exercise, with
such restrictive legend as required by the 1933 Act.  Any person so
designated by the Warrant Holder to receive Warrant Shares shall be deemed to
have become holder of record of such Warrant Shares as of the Date of
Exercise.  In connection with such exercise, the Warrant Holder, or
such person so designated by the Warrant Holder in accordance with this
paragraph, shall be deemed a stockholder of record with respect to the Warrant
Shares purchaser pursuant to such exercise, with all rights of a stockholder,
including voting rights and rights to receive dividends.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    b.          A
“Date of Exercise” means the date on which the Company shall have received (i)
this Warrant (or any New Warrant, as applicable), with the Form of Election to
Purchase attached hereto (or attached to such New Warrant) appropriately
completed and duly signed, and (ii) payment of the Exercise Price for the number
of Warrant Shares so indicated by the Warrant Holder to be
purchased.

     

    c.          This
Warrant shall be exercisable at any time and from time to time for such number
of Warrant Shares as is indicated in the attached Form of Election To
Purchase.  If less than all of the Warrant Shares which may be
purchased under this Warrant are exercised at any time, the Company shall issue
or cause to be issued, at its expense, a New Warrant evidencing the right to
purchase the remaining number of Warrant Shares for which no exercise has been
evidenced by this Warrant.

     

    d.          Cashless Exercise.
The Warrant Holder may, in its sole discretion, exercise this Warrant in whole
or in part and, in lieu of making the cash payment otherwise contemplated to be
made to the Company upon such exercise in payment of the aggregate Exercise
Price, elect instead to receive upon such exercise the “Net Number” of shares of
Common Stock determined according to the following formula (a “Cashless
Exercise”):

     

    Net
Number =  (A
x B) — (A x C)

      B

     

    For
purposes of the foregoing formula:

     

    A = the
total number of shares with respect to which this Warrant is then being
exercised.

     

    B = the
closing sale price of the shares of Common Stock (as reported by Bloomberg) on
the date immediately preceding the date of the Form of Election to Purchase (the
“Closing
Price”).

     

    C = the
Exercise Price then in effect for the applicable Warrant Shares at the time of
such exercise.

     

    e.          Deemed
Exercise.  If, at the Expiration Date for any Warrant Shares,
this Warrant has not theretofore been exercised with respect to such Warrant
Shares, and the Closing Price on the business day immediately prior to the
Expiration Date is greater than the Exercise Price, then the Warrant Holder
shall be deemed to have exercised this Warrant in whole with respect to such
Warrant Shares immediately prior to such Expiration Date and shall be deemed to
have elected to pay the aggregate Exercise Price pursuant to paragraph d.
(Cashless Exercise) of this Section 5, and the Date of Exercise with respect to
such deemed exercise shall be the date on which such Expiration Date
occurs.

     

    6.            
Adjustment of the Number of Shares.  The character of the shares of
stock or other securities at the time issuable upon exercise of this Warrant,
are subject to adjustment upon the occurrence of the following events, and all
such adjustments shall be cumulative:

     

     a.            
Adjustment for Stock Splits, Stock Dividends, Recapitalizations,
Etc.  The Exercise Price and the number of shares of Common Stock or
other securities at the time issuable upon exercise of this Warrant shall be
appropriately adjusted to reflect any stock dividend, stock split, combination
of shares, reclassification, recapitalization or other similar event affecting
the number of outstanding shares of stock or securities.

     

    b.      
     Reserved       

     

    c.            
Reserved

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    d.   Distributions of
Other Property.  If, at any time while this
Warrant  remains outstanding and unexpired with respect to any Warrant
Shares, the Company shall distribute to all holders of Company Common Stock
(including any such distribution made in connection with a consolidation or
merger in which the Company is the continuing corporation) evidences of its
indebtedness or assets (excluding ordinary cash dividends or distributions
payable out of consolidated earnings or earned surplus and dividends or
distributions referred to in paragraph (a) of this Section 6), then, in lieu of
an adjustment to the number of shares Company Common Stock purchasable upon the
exercise of this Warrant, the Warrant Holder, upon the exercise hereof at any
time after such distribution shall be entitled to receive from the Company the
stock or other securities to which the Warrant Holder would have been entitled
if the Warrant Holder had exercised this Warrant immediately prior thereto, all
subject to further adjustment as provided in this Section 6.        

     

    e.  Certificate as to
Adjustments.  In case of any adjustment or readjustment in the
number or kind of securities issuable on the exercise of this Warrant, or the
Exercise Price, the Company will promptly give written notice thereof (but in no
event later than 5 business days thereafter) to the holder of this Warrant in
the form of a certificate, certified and confirmed by the Board of Directors of
the Company, setting forth such adjustment or readjustment and showing in
reasonable detail the facts upon which such adjustment or readjustment is
based.

     

    7.            
Fractional Shares.  The Company shall not be required to issue or
cause to be issued fractional Warrant Shares on the exercise of this
Warrant.  The number of full Warrant Shares that shall be issuable upon the
exercise of this Warrant shall be computed on the basis of the aggregate number
of Warrants Shares purchasable on exercise of this Warrant so presented. 
If any fraction of a Warrant Share would, except for the provisions of this
Section 7, be issuable on the exercise of this Warrant, the Company shall, at
its option, (i) pay an amount in cash equal to the Exercise Price multiplied by
such fraction or (ii) round the number of Warrant Shares issuable, up to the
next whole number.

     

    8.         
Sale or Merger the Company.  The Company will give Warrant Holder
15-day written notice before the event of a sale of all or substantially all of
the assets of the Company or the merger or consolidation of the Company in a
transaction in which the Company is not the surviving entity (a “Fundamental
Transaction”).  The Company shall not enter into or be party to
such Fundamental Transaction unless the surviving entity assumes in writing all
of the obligations of the Company under this Warrant pursuant to written
agreements in form and substance satisfactory to the Warrant Holder and approved
by the Warrant Holder prior to such Fundamental Transaction, including
agreements to deliver to the Warrant Holder in exchange for this Warrant a
security of the surviving entity evidenced by a written instrument substantially
similar in form and substance to this Warrant, including, without limitation, an
adjusted exercise price equal to the value for the shares of Common Stock
reflected by the terms of such Fundamental Transaction, and exercisable for a
corresponding number of shares of capital stock equivalent to the shares of
Common Stock acquirable and receivable upon exercise of this Warrant (without
regard to any limitations on the exercise of this Warrant) prior to such
Fundamental Transaction, and satisfactory to the Warrant Holder.

     

    9.         
Issuance of Substitute Warrant.   In the event of a
merger, consolidation, recapitalization or reorganization of the Company or a
reclassification of Company shares of stock, which results in an adjustment to
the number of shares subject to this Warrant hereunder, the Company agrees to
issue to the Warrant Holder a substitute Warrant reflecting the adjusted number
of shares upon the surrender of this Warrant to the Company.

     

    10.           Listing of
Shares.   The Company shall promptly secure the listing of
all of the Warrant Shares issuable hereunder upon each national securities
exchange and automated quotation system, if any, upon which the Common Stock is
then listed (subject to official notice of issuance) and shall maintain, so long
as any other shares of Common Stock shall be so listed, such listing of Warrant
Shares.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    11.           Noncircumvention. The Company
hereby covenants and agrees that the Company will not, by amendment of its
Certificate of Incorporation, Bylaws or through any reorganization, transfer of
assets, consolidation, merger, scheme of arrangement, 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 of this Warrant, and will at all
times in good faith carry out all the provisions of this Warrant and take all
action as may be required to protect the rights of the Warrant Holder. Without
limiting the generality of the foregoing, the Company (i) shall not increase the
par value of any shares of Common Stock receivable upon the exercise of this
Warrant above the Exercise Price then in effect, (ii) shall take all such
actions as may be necessary or appropriate in order that the Company may validly
and legally issue fully paid and nonassessable shares of Common Stock upon the
exercise of this Warrant, and (iii) shall take all action necessary to reserve
and keep available out of its authorized and unissued shares of Common Stock,
solely for the purpose of effecting the exercise of the this Warrant, 100% of
the number of shares of Common Stock as shall from time to time be necessary to
effect the exercise of this Warrant  (without regard to any
limitations on exercise).

     

    12.           Notice.  All notices and
other communications hereunder shall be in writing and shall be deemed to have
been given (i) on the date they are delivered if delivered in person; (ii) on
the date initially received if delivered by facsimile transmission followed by
registered or certified mail confirmation; (iii) on the date delivered by an
overnight courier service; or (iv) on the third business day after it is mailed
by registered or certified mail, return receipt requested with postage and other
fees prepaid as follows:

     

    If to the
Company:

    HealthWarehouse.com,
Inc.

    100
Commerce Boulevard,

    Cincinnati,
OH  45140

    Fax:
(513) 618-0925

    Attn:
Chief Executive Officer

    

    with a
copy (for informational purposes only) to:

    

    Mark J.
Zummo, Esq.

    Kohnen
& Patton LLP

    800 PNC
Center

    201 E.
Fifth Street

    Cincinnati,
OH 45202

    Telephone:  (513)
381-0656

    Facsimile:
(513) 381-5823

    

    If to the Warrant
Holder:

    

    _________________________

    _________________________

    _________________________

    _________________________

    

     

    With a
copy (for informational purposes only) to:

     

    _________________________

    _________________________

    _________________________

    _________________________

    

                13.           Loss of
Warrant.  Upon receipt by the Company of satisfactory evidence
of loss, theft, destruction or mutilation of this Warrant and of indemnity
satisfactory to the Company, and upon surrender and cancellation of this
Warrant, if mutilated, the Company shall execute and deliver a new Warrant of
like tenor and date and any such lost, stolen or destroyed Warrant shall
thereupon become void.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      14.                              
Miscellaneous.

    

     

    a.  This Warrant shall be
binding on and inure to the benefit of the parties hereto and their respective
successors and permitted assigns.  This Warrant may be amended only in
writing and signed by the Company and the Warrant Holder.

     

    b.  Nothing in this
Warrant shall be construed to give to any person or corporation other than the
Company and the Warrant Holder any legal or equitable right, remedy or cause of
action under this Warrant; this Warrant shall be for the sole and exclusive
benefit of the Company and the Warrant Holder.

     

    c. This Warrant shall be
governed by, construed and enforced in accordance with the internal laws of the
State of Delaware without regard to the principles of conflicts of law
thereof.  Each party irrevocably submits and consent to the exclusive
jurisdictions of the United States District Courts of the State of Delaware, or,
if such court does not have jurisdiction or will not accept jurisdiction, in any
court of general jurisdiction in the State of Delaware, and hereby agrees that
such courts shall be the exclusive proper forum for the determination of any
dispute arising hereunder.

     

    d.  The headings herein
are for convenience only, do not constitute a part of this Warrant and shall not
be deemed to limit or affect any of the provisions hereof.

     

     e. In case any one or
more of the provisions of this Warrant shall be invalid or unenforceable in any
respect, the validity and enforceablilty of the remaining terms and provisions
of this Warrant shall not in any way be affected or impaired thereby and the
parties will attempt in good faith to agree upon a valid and enforceable
provision which shall be a commercially reasonably substitute therefore, and
upon so agreeing, shall incorporate such substitute provision in this
Warrant.

     

    f.           The
Warrant Holder shall not, by virtue hereof, be entitled to any voting or other
rights of a shareholder of the Company, either at law or equity, and the rights
of the Warrant Holder are limited to those expressed in this
Warrant.

     

    g.           
The remedies provided in this Warrant shall be cumulative and in addition to all
other remedies available under this Warrant, at law or in equity (including a
decree of specific performance and/or other injunctive relief), and nothing
herein shall limit the right of the Warrant Holder to pursue actual damages for
any failure by the Company to comply with the terms of this Warrant. The Company
acknowledges that a breach by it of its obligations hereunder will cause
irreparable harm to the Warrant Holder and that the remedy at law for any such
breach may be inadequate. The Company therefore agrees that, in the event of any
such breach or threatened breach, the holder of this Warrant shall be entitled,
in addition to all other available remedies, to an injunction restraining any
breach, without the necessity of showing economic loss and without any bond or
other security being required.  If any action, suit, or other
proceedings is instituted concerning or arising out of this Warrant, the
prevailing party shall recover all of such party’s costs and reasonable
attorney’s fees incurred in each such action, suit, or other proceeding,
including any and all appeals or petitions from any such action, suit or other
proceeding.

     

    h.           From
and after the date of this Warrant, upon the request of the Warrant Holder or
the Company, the Company and the Warrant Holder shall execute and deliver such
instruments, documents or other writings as may be reasonably necessary or
desirable to confirm and carry out and to effectuate fully the intent and
purposes of this Warrant.

     

    [SIGNATURE
PAGE FOLLOWS]

    
      
         

      

      
         

        
          

        

      

      
         

      

    

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

     

    
      
        
          	
                  HealthWarehouse.com,
      Inc.

                
	 
      	
                     

                
	
                  By:

                	
                     

                
	 
      	
                     

                
	
                  Name:

                	
                     

                
	 
      	
                     

                
	
                  Title:

                	
                     

                

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    FORM 
OF  ELECTION  TO  PURCHASE

     

    (To be
executed by the Warrant Holder to exercise the right to purchase shares of
Common Stock under the foregoing Warrant)

     

    To: 
HealthWarehouse.com,
Inc.

     

    In
accordance with the Warrant enclosed with this Form of Election to Purchase, the
undersigned hereby irrevocably elects to purchase
                        
shares of Common Stock (“Common Stock”), $0.___ par value, of
HealthWarehouse.com, Inc. and encloses one warrant and
$                     
for each Warrant Share being purchased or an aggregate of
$                          
in cash or certified or official bank check or checks, which sum represents the
aggregate Exercise Price (as defined in the Warrant) together with any
applicable taxes payable by the undersigned pursuant to the
Warrant.

     

    The
undersigned requests that certificates for the shares of Common Stock issuable
upon this exercise be issued in the name of:

     

    
      	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	
              (Please
      print name and address)

            	 
      
	 
      	 
      
	 
      	 
      
	
              (Please
      insert Social Security or Tax Identification Number)

            	 
      

    

     

     

    If the
number of shares of Common Stock issuable upon this exercise shall not be all of
the shares of Common Stock which the undersigned is entitled to purchase in
accordance with the enclosed Warrant, the undersigned requests that a New
Warrant (as defined in the Warrant) evidencing the right to purchase the shares
of Common Stock not issuable pursuant to the exercise evidenced hereby be issued
in the name of and delivered to:

     

    
      	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	 
      	 
      
	
              (Please
      print name and address)

            	 
      

    

     

    
      	
              Dated:

            	 
      	 
      	
              Name
      of Warrant Holder:

            

    

    

    
      
        	 
      	
                (Print)

              	 
      
	 
      	 
      	 
      
	 
      	
                (By:)

              	 
      
	 
      	 
      	 
      
	 
      	
                (Name:)

              	 
      
	 
      	 
      	 
      
	 
      	
                (Title:)

              	 
      
	 
      	 
      	 
      
	 
      	
                Signature
      must conform in all respects to name of Warrant Holder as specified on the
      face of the Warrant

              

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

     [FORM
OF ASSIGNMENT PURSUANT TO SECTION 4(a)]

     

    (To be
executed by the registered holder if such holder desires to transfer the Warrant
Certificate.)

     

    
      	
              FOR
      VALUE RECEIVED hereby sells, assigns and transfers unto

            
	 
      
	 
      	 
      
	
              (Please
      print name and address of transferee)

            	 
      

    

     

    this
Warrant Certificate, together with all right, title and interest therein, and
hereby irrevocably constitutes and appoints
                                                       
Attorney, to transfer the within Warrant Certificate on the books of the
within-named Company, with full power of substitution.

     

    Dated:

    

    
      	 
      	
              Signature:

            	 
      	 
      
	 
      	 
      	 
      
	 
      	
              (Signature
      must confirm in all respects to name of holder as specified on the face of
      the Warrant Certificate.)

            

    

    

    (Insert
Social Security or Other Identifying Number of Assignee).

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