Document:

White Mountain Titanium Corporation: Exhibit 10.1 - Filed by newsfilecorp.com

TERMINATION AGREEMENT 

     This Termination Agreement (the
“Agreement”), dated effective the 29th day of February 2016,
(the “Effective Date”) is by and between Crosby Enterprises, Inc., a
Washington corporation (hereinafter referred to as the “Service
Provider”), and White Mountain Titanium Corporation, a Nevada corporation
(hereinafter referred to as the “Company”). 

Recitals: 

     A. On or about December 21, 2015,
the Company entered into an Investor Relations Services Agreement dated December
21, 2015, with the Service Provider to provide investor relations services to
the Company (the “IR Services Agreement”). 

     B. The Service Provider is owned
and controlled by Howard Crosby, who served as a director of the Company through
March 7, 2016. 

     C. In connection with his
resignation as a director, he and the Company have agreed to mutually terminate
the IR Services Agreement. 

     NOW, THEREFORE, in consideration
of the faithful performance of the obligations set forth herein and other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Service Provider and the Company hereby agree as follows. 

     1.
Termination of IR Services Agreement. The Service Provider and
the Company hereby mutually terminate the IR Services Agreement as of the
Effective Date. The Service Provider and the Company waive the requirement for
30 days’ prior notice of the termination under Section 2 of the IR Services
Agreement. Those provisions that by their nature are intended to survive
termination or expiration of the IR Services Agreement shall so survive,
including, but not limited to, Sections 9, 11, and 13, which are incorporated
hereby by this reference. 

     2. Accrued
Fees. Any fees or reimbursable amounts accrued but unpaid through the
Effective Date are to be paid by the Company as soon as excess operating funds
are reasonably available, but not later than one year from the Effective Date.
No interest shall accrue on any unpaid fees. Notwithstanding the foregoing, the
accrued but unpaid fees shall be subordinate to any senior indebtedness of the
Company incurred now or in the future. 

     3. Waiver of
Defaults. Each of the parties to the IR Services Agreement hereby waives
any prior defaults of the other party under the terms of the IR Services
Agreement. 

     IN WITNESS WHEREOF, each of the
parties hereto, thereunto duly authorized, has executed this Termination
Agreement the respective day and year set forth below. 

	COMPANY: 	
      White Mountain Titanium Corporation 

	  	  	  
	  	  	  
	  	  	  
	Date: March 31, 2016 	By	/s/ Michael P. Kurtanjek 
	  		
      Michael P. Kurtanjek, Interim
  CEO  

	SERVICE PROVIDER: 	Crosby Enterprises,
      Inc. 
	  	 	  
	  	 	  
	  	 	  
	Date: March 31, 2016 	By	/s/
      Howard M. Crosby 
	  	 	Howard M. Crosby, President

2Exhibit 4.1

 

[FORM OF WARRANT CERTIFICATE]

 

Number

 

Warrants

 

THE WARRANTS SHALL BE VOID IF NOT EXERCISED PRIOR TO
 THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR
 IN THE WARRANT AGREEMENT DESCRIBED BELOW

 

ONCONOVA THERAPEUTICS, INC.
 Incorporated Under the Laws of the State of Delaware

 

CUSIP: 68232V 116

 

Warrant Certificate

 

This Warrant Certificate certifies that                          , or its registered assigns, is the registered holder of warrant(s) (the “Warrants”and each, a “Warrant”) to purchase shares of Common Stock, $0.01 par value per share (“Common Stock”), of Onconova Therapeutics, Inc., a Delaware corporation (the “Company”). Each Warrant entitles the holder, upon exercise during the period set forth in the Warrant Agreement referred to below, to receive from the Company that number of fully paid and nonassessable shares of Common Stock as set forth below, at the exercise price (the “Exercise Price”) as determined pursuant to the Warrant Agreement, payable in lawful money of the United States of America (or through “cashless exercise” as provided for in the Warrant Agreement), subject to the conditions set forth herein and in the Warrant Agreement. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement (as defined on the reverse hereof).

 

Each Warrant is initially exercisable for one fully paid and non-assessable share of Common Stock. The number of shares of Common Stock issuable upon exercise of the Warrants is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement.

 

The initial Exercise Price per share of Common Stock for any Warrant is equal to $4.92 per share. The Exercise Price is subject to adjustment upon the occurrence of certain events set forth in the Warrant Agreement.

 

Subject to the conditions set forth in the Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not exercised by the end of such Exercise Period, such Warrants shall become void.

 

 

Reference is hereby made to the further provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions shall for all purposes have the same effect as though fully set forth at this place.

 

This Warrant Certificate shall not be valid unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

 

This Warrant Certificate shall be governed by and construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws principles thereof.

 

IN WITNESS WHEREOF, the parties hereto have caused this Warrant Certificate to be duly executed as of the date first above written.

 

	
 
    	
ONCONOVA THERAPEUTICS, INC.
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    
	
 
    	
 
    
	
 
    	
WELLS FARGO BANK, N.A.,
    
	
 
    	
as Warrant Agent
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

[Signature Page to Warrant Certificate]

 

 

[Form of Warrant Certificate]

 

[Reverse]

 

The Warrants evidenced by this Warrant Certificate are part of a duly authorized issue of Warrants entitling the holder on exercise to receive shares of Common Stock and are issued or to be issued pursuant to a Warrant Agreement dated as of July                                    , 2016 (the “Warrant Agreement”), duly executed and delivered by the Company to Wells Fargo Bank, N.A., as warrant agent (the “Warrant Agent”), which Warrant Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company and the holders (the words “holders” or “holder” meaning the Holders or Holder) of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Warrants may be exercised at any time during the Exercise Period set forth in Section 3.2 of the Warrant Agreement.

 

The Warrant Agreement provides that upon the occurrence of certain events the number of shares of Common Stock issuable upon exercise of the Warrants set forth on the face hereof may, subject to certain conditions, be adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive a fractional interest in a share of Common Stock, the Company shall, upon exercise, round down to the nearest whole number of shares of Common Stock to be issued to the holder of the Warrant.

 

Warrant Certificates, when surrendered at the principal corporate trust office of the Warrant Agent by the Holder thereof in person or by legal representative or attorney duly authorized in writing, may be exchanged, in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another Warrant Certificate or Warrant Certificates of like tenor evidencing in the aggregate a like number of Warrants.

 

Upon due presentation for registration of transfer of this Warrant Certificate at the office of the Warrant Agent, a new Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee(s) in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental charge imposed in connection therewith.

 

The Company and the Warrant Agent may deem and treat the Holder(s) hereof as the absolute owner(s) of this Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise hereof, of any distribution to the holder(s) hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a stockholder of the Company.

 

 

Election to Purchase

 

(To Be Executed Upon Exercise of Warrant)

 

The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive shares of Common Stock and tenders payment for such shares to the order of Onconova Therapeutics, Inc. (the “Company”) in the amount of $              in accordance with the terms hereof and the terms of the Warrant Agreement. The undersigned requests that a certificate for such shares be registered in the name of                           , whose address is                                                                               , and that such shares be delivered to                           , whose address is                                                                   . If said number of shares is less than all of the shares of Common Stock purchasable hereunder, the undersigned requests that a new Warrant Certificate representing the remaining balance of such shares be registered in the name of              , whose address is                                                                               , and that such Warrant Certificate be delivered to              , whose address is                                                                   .

 

In the event that the Warrant is to be exercised on a “cashless” basis pursuant to Section 3.3.2 of the Warrant Agreement, the number of shares that the Warrants are exercisable for shall be determined in accordance with Section 3.3.2 of the Warrant Agreement.

 

	
 
    	
a “Cash Exercise” with respect to     Warrant Shares; and/or
    
	
 
    	
 
    
	
 
    	
a “Cashless Exercise” with respect to     Warrant Shares, resulting in a delivery obligation by the Company to   the Holder of shares of Common Stock representing the applicable Net Number,   subject to adjustment.
    

 

In the event that the Warrant may be exercised, to the extent allowed by the Warrant Agreement, through cashless exercise (i) the number of shares that the Warrants are exercisable for shall be determined in accordance with the relevant section of the Warrant Agreement which allows for such cashless exercise and (ii) the holder hereof shall complete the following: The undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, through the cashless exercise provisions of the Warrant Agreement, to receive shares of Common Stock. If said number of shares is less than all of the shares of Common Stock purchasable hereunder (after giving effect to the cashless exercise), the undersigned requests that a new Warrant Certificate representing the remaining balance of such shares be registered in the name of                        , whose address is                                                                              , and that such Warrant Certificate be delivered to                       ,  whose address is                                                                               .

 

 

	
 
    	
 
    
	
Date:               , 20
    	
(Signature)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
(Address)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
(Tax Identification Number)

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