Document:

Exhibit

                                                                     Exhibit 10.1    

FOURTH AMENDMENT TO LEASE AGREEMENT

THIS FOURTH AMENDMENT TO LEASE AGREEMENT (this “Amendment”) is entered into as of November 14, 2017, by and between Starboard Distribution Center, LLC, a Delaware limited liability company (“Landlord”) and Virco Mfg. Corporation, a Delaware corporation (“Tenant”).

W I T N E S S E T H:

WHEREAS, Landlord and Tenant have entered into a Standard Industrial/Commercial Single Lessee Lease - Net dated February 1, 2005 which includes an Addendum to American Industrial Real Estate Association Standard Industrial/Commercial Single Lessee Lease - Net and as amended by a First Amendment to Lease dated August 20, 2008, a Second Amendment to Lease dated September 2, 2008 and a Third Amendment to Lease dated December 20, 2013 (which Third Amendment includes an Addendum 1 which Addendum may be individually referenced as “Addendum 1 of the Third Amendment”), pursuant to which Landlord leased to Tenant certain premises consisting of approximately 559,000 rentable square feet located at 2027 Harpers Way, Torrance, California 90501 (the “Premises”), such lease, as heretofore collectively modified, being herein referred to as the “Lease”.

WHEREAS, Landlord and Tenant desire to modify the Lease on the terms and conditions set forth below.

A G R E E M E N T:

NOW THEREFORE, in consideration of the Premises and the mutual covenants hereinafter contained, the parties hereto agree as follows:

		
	1.
	The Lease Term is extended for sixty-two (62) months, such that the Expiration Date is amended to be April 30, 2025 (the “Third Extension Term”).  All of the terms and conditions of the Lease shall remain in full force and effect during the Third Extension Term except that the Monthly Base Rent shall be as follows:

        
	
				
	 
	Period
	 
	Monthly Base Rent

	March 1, 2020
	through
	April 30, 2020
	$0.00*

	May 1, 2020
	through
	February 28, 2021
	$396,890.00

	March 1, 2021
	through
	February 28, 2022
	$408,796.70

	March 1, 2022
	through
	February 28, 2023
	$421,060.60

	March 1, 2023
	through
	February 29, 2024
	$433,692.42

	March 1, 2024
	through
	April 30, 2025
	$446,703.19

* During any free Base Rent period, Tenant shall be responsible for Operating Expenses as set forth in the Lease.

		
	2.
	Landlord and Tenant hereby acknowledge that Landlord holds a certain Security Deposit in the amount of $213,817.50 pursuant to the terms of the Lease.  Tenant shall deposit an additional $100,000.00 upon execution of this Fourth Amendment.  Upon the commencement of the Third Extension Term, Tenant shall deposit an additional $86,182.50, so that as of such date and throughout the remainder of the Third Extension Term, the required Security Deposit under the Lease shall be a total amount of $400,000.00.

		
	3.
	Landlord shall provide Tenant with two (2) Renewal Options per the terms and conditions outlined in Exhibit A attached to this Fourth Amendment and by reference incorporated herein. Any prior renewal, extension or termination options shall be null and void with no further force or effect.

		
	4.
	Notwithstanding anything herein to the contrary, and provided that no Event of Default exists or would exist but for the passage of time, giving of notice, or both, Landlord shall contribute up to a maximum amount of $279,500.00 (the “TI Allowance”), towards the mutually agreed upon, which agreement shall not be unreasonably withheld, Tenant-Made Alterations (“Fourth Amendment Alterations”) to the Premises, including but not limited to renovations to the front office area of the Building, which can be capitalized by Landlord (as opposed to repairs and maintenance to the Premises), which payment shall be made by Landlord to Tenant within 30 days following (i) completion of 

the Tenant-Made Alterations, (ii) Landlord’s receipt of Tenant’s invoice substantiating the costs along with copies of vendor invoices summarizing work done, (iii) Landlord’s receipt of final lien waivers from all contractors and subcontractors who worked on the Tenant-Made Alterations, and (iv) Landlord’s receipt of a copy of the final construction permit approved by the applicable governing authority to the extent required for such Tenant-Made Alterations.  Landlord shall be under no obligation to pay for any Tenant-Made Alterations to the Premises in excess of the TI Allowance.  Further, such TI Allowance shall only be available for Tenant’s use through December 31, 2020, and Tenant hereby waives any and all rights to any unused portion of the TI Allowance remaining thereafter.

		
	5.
	Landlord and Tenant acknowledge and agree that the demolition of the “grinding room” required by Landlord pursuant to (a) of Addendum 1 of the Third Amendment to Lease, shall be conducted simultaneously with the removal of the fire extinguishing room which is structurally tied to the grinding room; Landlord shall undertake, and promptly complete, the demolition of both the grinding room and the fire extinguishing room upon receipt of written notice from Tenant to Landlord requesting that Landlord proceed with demolition.

		
	6.
	Except as otherwise expressly provided herein, all defined terms used in this Amendment shall have the same respective meanings as are provided for such defined terms in the Lease. Tenant shall accept the Premises in its “as is” condition and shall pay Operating Expenses and other reimbursable costs as provided in the Lease during the Third Extension Term.

		
	7.
	Notwithstanding anything provided in the Lease to the contrary, effective on the commencement of the Third Extension Term, all payments required to be made by Tenant to Landlord (or to such other party as Landlord may from time to time specify in writing) may only be made by Electronic Fund Transfer (“EFT”) of immediately available federal funds before 11:00 a.m., Pacific Time at such place, within the continental United States, as Landlord may from time to time designate to Tenant in writing. 

		
	8.
	The notice addresses for Landlord and Tenant during the Lease Term, as extended, shall be as follows:

Landlord:        Starboard Distribution Center, LLC
c/o Prologis
17777 Center Court Drive North, Suite 100
Cerritos, California 90703

 With a copy to:    Prologis
1800 Wazee Street, Suite 500
Denver, Colorado 80202
Attention: General Counsel

Tenant:        Virco Mfg. Corporation
2027 Harpers Way
Torrance, California 90501
Attention: Robert Dose

		
	9.
	Within 25 days of Landlord’s written request, Tenant agrees to deliver to Landlord such information and/or documents as Landlord requires for Landlord to comply with California Public Resources Code Section 25402.10, or successor statute(s), and California Energy Commission adopted regulations set forth in California Code of Regulations, Title 20, Division 2, Chapter 4, Article 9, Sections 1680-1685, and successor and related California Code of Regulations, relating to commercial building energy ratings.  Landlord makes the following statement based on Landlord’s actual knowledge in order to comply with California Civil Code Section 1938: The Building and Premises have not undergone an inspection by a Certified Access Specialist (CASp).  A Certified Access Specialist (CASp) can inspect the subject Premises and determine whether the subject Premises comply with all of the applicable construction-related accessibility standards under state law.  Although state law does not require a CASp inspection of the subject Premises, the Landlord may not prohibit the Tenant from obtaining a CASp inspection of the subject Premises for the occupancy or potential occupancy of the Tenant, if requested by the Tenant.  The parties shall mutually agree on the arrangements for the time and manner of the CASp inspection, the payment of the fee for the CASp inspection, and the cost of making any repairs necessary to correct violations of construction-related accessibility standards within the premises.  Landlord and Tenant hereby agree that a Tenant-requested CASp inspection shall be at Tenant’s sole cost and expense (and a Landlord-requested CASp inspection being at Landlord’s sole cost and expense) and that the cost of making any repairs necessary to correct violations of construction-related accessibility standards within the Premises shall be governed by Paragraph 3 of the Lease.

		
	10.
	Tenant represents and warrants that it has dealt with no broker, agent or other person in connection with this transaction and that no broker, agent or other person brought about this transaction, other than Todd Taugner and David Prior with The Klabin Company, and Tenant agrees to indemnify and hold Landlord harmless from and against any claims by any other broker, agent or other person claiming a commission or other form of compensation by virtue of having dealt with Tenant with regard to this leasing transaction.

		
	11.
	Insofar as the specific terms and provisions of this Amendment purport to amend or modify or are in conflict with the specific terms, provisions and exhibits of the Lease, the terms and provisions of this Amendment shall govern and control; in all other respects, the terms, provisions and exhibits of the Lease shall remain unmodified and in full force and effect.  

		
	12.
	Landlord and Tenant hereby agree that (i) this Amendment is incorporated into and made a part of the Lease, (ii) any and all references to the Lease hereinafter shall include this Amendment, and (iii) the Lease and all terms, conditions and provisions of the Lease are in full force and effect as of the date hereof, except as expressly modified and amended hereinabove.

		
	13.
	Any obligation or liability whatsoever of Prologis, a Maryland real estate investment trust, which may arise at any time under this Lease or any obligation or liability which may be incurred by it pursuant to any other instrument, transaction, or undertaking contemplated hereby shall not be personally binding upon, nor shall resort for the enforcement thereof be had to the property of, its trustees, directors, shareholders, officers, employees or agents, regardless of whether such obligation or liability is in the nature of contract, tort, or otherwise.

IN WITNESS WHEREOF, the parties hereto have signed this Amendment as of the day and year first above written.

	
		
	TENANT:
	LANDLORD:

	 
	 

	VIRCO MFG. CORPORATION
a Delaware corporation

By:        /s/ Robert E. Dose
Name:  _______Robert E. Dose______________
Title:  Sr. Vice President - Finance, Secretary and Treasurer
	STARBOARD DISTRIBUTION CENTER, LLC
a Delaware limited liability company

By:Authorized Person

_________/s/  Kim B. Snyder___________
Kim B. Snyder, President of Prologis, Inc., a Maryland corporation

EXHIBIT A:  (BASEBALL ARBITRATION)

(a)Provided that as of the time of the giving of the Fourth Extension Notice and the Commencement Date of the Fourth Extension Term, (x) Tenant is the Tenant originally named herein (or, in the event of a transfer in accordance with the terms of the Lease pursuant to merger, consolidation, or reorganization, then Tenant may also be any entity to which substantially all of Tenant’s assets are transferred and as long as all of the Lease obligations are so transferred, and such transfer does not reduce the tangible net worth of Tenant after giving effect to such transfer (an “Extension Affiliate”), (y) Tenant actually occupies all of (which may be by sublease of up to 50% of) the Premises initially demised under this Lease and any space added to the Premises, and (z) no Event of Default exists or would exist but for the passage of time or the giving of notice, or both; then Tenant shall have the right to extend the Lease Term for an additional term of five (5) years (such additional term is hereinafter called the "Fourth Extension Term") commencing on the day following the expiration of the Lease Term (hereinafter referred to as the "Commencement Date of the Fourth Extension Term").  Tenant shall give Landlord notice (hereinafter called the "Fourth Extension Notice") of its election to extend the term of the Lease Term at least nine (9) months, but not more than twelve (12) months, prior to the scheduled expiration date of the Third Extension Term.

(b)Provided that as of the time of the giving of the Fifth Extension Notice and the Commencement Date of the Fifth Extension Term, (x) Tenant is the Tenant originally named herein or an Extension Affiliate, (y) Tenant actually occupies all of (which may be by sublease of up to 50% of) the Premises initially demised under this Lease and any space 

added to the Premises, and (z) no Event of Default exists or would exist but for the passage of time or the giving of notice, or both and provided Tenant has exercised its option for the Fourth Extension Term; then Tenant shall have the right to extend the Lease Term for an additional term of five (5) years (such additional term is hereinafter called the "Fifth Extension Term") commencing on the day following the expiration of the Fourth Extension Term (hereinafter referred to as the "Commencement Date of the Fifth Extension Term").  Tenant shall give Landlord notice (hereinafter called the "Fifth Extension Notice") of its election to extend the term of the Lease Term at least nine (9) months, but not more than twelve (12) months, prior to the scheduled expiration date of the Fourth Extension Term.

(c)The Base Rent payable by Tenant to Landlord during the Fourth Extension Term shall be the greater of:
 
(i) The Base Rent applicable to the last year of the initial Lease term, and 

(ii) The then Fair Market Rent as defined below.  

(d)The Base Rent payable by Tenant to Landlord during the Fifth Extension Term shall be the greater of:
 (i) The Base Rent applicable to the last year of the Fourth Extension Term, and 
    
(ii) The then Fair Market Rent as defined below. 

(e)The term "Fair Market Rent" shall mean the Base Rent, expressed as an annual rent per square foot of floor area, which Landlord would have received from leasing the Premises for the Fourth Extension Term, or Fifth Extension Term (whichever is applicable) to an unaffiliated person which is not then a tenant in the Project, assuming that such space were to be delivered in "as-is" condition, and taking into account the rental which such other tenant would most likely have paid for such premises, including market escalations, provided that Fair Market Rent shall not in any event be less than the Base Rent for the Premises as of the expiration of the Lease Term.  Fair Market Rent shall not be reduced by reason of any costs or expenses saved by Landlord by reason of Landlord's not having to find a new tenant for the Premises (including without limitation brokerage commissions, cost of improvements necessary to prepare the space for such tenant's occupancy, rent concession, or lost rental income during any vacancy period).  Fair Market Rent means only the rent component defined as Base Rent in the Lease and does not include reimbursements and payments by Tenant to Landlord with respect to Operating Expenses and other items payable or reimbursable by Tenant under the Lease.  In addition to its obligation to pay Base Rent (as determined herein), Tenant shall continue to pay and reimburse Landlord as set forth in the Lease with respect to such Operating Expenses and other items with respect to the Premises during the Fourth Extension Term or Fifth Extension Term (whichever is applicable).  The arbitration process described below shall be limited to the determination of the Base Rent and shall not affect or otherwise reduce or modify the Tenant's obligation to pay or reimburse Landlord for such Operating Expenses and other reimbursable items.
 
(f) Landlord shall notify Tenant of its determination of the Fair Market Rent (which shall be made in Landlord's sole discretion and shall in any event be not less than the Base Rent in effect as of the expiration of the Lease Term) for the Fourth Extension Term or Fifth Extension Term (whichever is applicable), and Tenant shall advise Landlord of any objection within 30 days of receipt of Landlord's notice.  Failure to respond within the 30-day period shall constitute Tenant's acceptance of such Fair Market Rent.  If Tenant objects, Landlord and Tenant shall commence negotiations to attempt to agree upon the Fair Market Rent within 30 days of Landlord's receipt of Tenant's notice.  If the parties cannot agree, each acting in good faith but without any obligation to agree, then the Lease Term shall not be extended and shall terminate on its scheduled termination date and Tenant shall have no further right hereunder or any remedy by reason of the parties' failure to agree unless Tenant or Landlord invokes the arbitration procedure provided below to determine the Fair Market Rent.  

(g)    Arbitration to determine the Fair Market Rent shall be in accordance with the Real Estate Valuation Arbitration Rules of the American Arbitration Association.  Unless otherwise required by state law, arbitration shall be conducted in the metropolitan area where the Project is located by a single arbitrator unaffiliated with either party.  Either party may elect to arbitrate by sending written notice to the other party and the Regional Office of the American Arbitration Association within 5 days after the 30-day negotiating period provided in Paragraph (f), invoking the binding arbitration provisions of this paragraph.  Landlord and Tenant shall each submit to the arbitrator their respective proposal of Fair Market Rent.  The arbitrator must choose between the Landlord's proposal and the Tenant's proposal and may not compromise between the two or select some other amount.  Notwithstanding any other provision herein, the Fair Market Rent determined by the arbitrator shall not be less than, and the arbitrator shall have no authority to determine a Fair Market Rent less than, the Base Rent in effect as of the scheduled expiration of the Lease Term.  The cost of the arbitration shall be paid by Tenant if the Fair Market Rent is that proposed by Landlord and by Landlord if the Fair Market Rent is 

that proposed by Tenant; and shall be borne equally otherwise.  If the arbitrator has not determined the Fair Market Rent as of the end of the Lease Term, Tenant shall pay 105 percent of the Base Rent in effect under the Lease as of the end of the Lease Term until the Fair Market Rent is determined as provided herein.  Upon such determination, Landlord and Tenant shall make the appropriate adjustments to the payments between them.  

(h)    The parties consent to the jurisdiction of any appropriate court to enforce the arbitration provisions of this Addendum and to enter judgment upon the decision of the arbitrator.

(i)    The determination of Base Rent does not reduce the Tenant's obligation to pay or reimburse Landlord for Operating Expenses and other reimbursable items as set forth in the Lease, and Tenant shall reimburse and pay Landlord as set forth in the Lease with respect to such Operating Expenses and other items with respect to the Premises during the Fourth Extension Term and Fifth Extension Term without regard to any cap on such expenses set forth in the Lease.

(a)Except for the Base Rent as determined above, Tenant's occupancy of the Premises during the Fourth Extension Term and the Fifth Extension Term shall be on the same terms and conditions as are in effect immediately prior to the expiration of the Third Extension Term or the Fourth Extension Term; provided, however, Tenant shall have no further right to any allowances, credits or abatements or any options to expand, contract, renew or extend the Lease.

(b)If Tenant does not give the Fourth Extension Notice within the period set forth in paragraph (a) above, Tenant's right to extend the Lease Term for the Fourth Extension Term and the Fifth Extension Term shall automatically terminate.  If Tenant does not give the Fifth Extension Notice within the period set forth in paragraph (b) above, Tenant's right to extend the Lease Term for the Fifth Extension Term shall automatically terminate.  Time is of the essence as to the giving of the Fourth Extension Notice and Fifth Extension Notice.

(c)Landlord shall have no obligation to refurbish or otherwise improve the Premises for the Fourth Extension Term or the Fifth Extension Term.  The Premises shall be tendered on the Commencement Date of the Fourth Extension Term and Fifth Extension Term in "as-is" condition.

(d)If the Lease is extended for either the Fourth Extension Term or Fifth Extension Term, then Landlord shall prepare and Tenant shall execute an amendment to the Lease confirming the extension of the Lease Term and the other provisions applicable thereto (the "Amendment").

(g)If Tenant exercises its right to extend the term of the Lease for the Fourth Extension Term or Fifth Extension Term pursuant to this Addendum, the term “Lease Term" as used in the Lease, shall be construed to include, when practicable, the Fourth Extension Term or Fifth Extension Term, as applicable, except as provided in (j) above.EX-4.8

 Exhibit 4.8 

THIS WARRANT AND THE SECURITIES UNDERLYING THIS WARRANT HAVE NOT BEEN REGISTERED WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES
COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION UNDER
THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. THIS SECURITY MAY BE SUBJECT TO
ADDITIONAL RESTRICTIONS PURSUANT TO EXEMPTIONS IN THE VARIOUS JURISDICTIONS WHERE THEY ARE BEING SOLD. 
 Issued ___, 2017 

AMENDED AND RESTATED WARRANT TO PURCHASE COMMON STOCK 

OF 
 NEOTHETICS, INC.

 This WARRANT (the “Warrant”) is issued to [·] (the “Holder”), as agent
for and on behalf of [·] (the “Fund”), or its registered assigns, by Neothetics, Inc., a Delaware corporation (the “Company”), pursuant to Section 1.6(f) of that certain Agreement and Plan
of Merger and Reorganization, dated October 17, 2017, by and among Evofem Biosciences, Inc., a Delaware corporation (“Evofem”), Nobelli Merger Sub, Inc., a Delaware corporation, and the Company (the “Merger
Agreement”). Capitalized terms used but not defined in this Warrant have the meanings assigned to such terms in the Merger Agreement. The term “Warrant” as used herein shall include this Warrant and any warrants delivered in
substitution or exchange hereof as provided herein. 
 RECITALS 

A. The Holder acknowledges and agrees that one or more warrants to purchase shares of capital stock of Evofem were originally issued to Holder
by Evofem pursuant to that certain Series D Preferred Stock Purchase Agreement, dated July 13, 2016, by and between Evofem and Holder as amended by that certain First Amendment to the Series D Preferred Stock Purchase Agreement, dated
July 28, 2017, by and between Evofem and Holder (the “Prior Warrants”) and that the Prior Warrants were assumed by the Company pursuant to the Merger Agreement. 

B. The parties now desire to amend and restate the Prior Warrants in their entirety as set forth herein. 

C. The Warrant is being issued as a unit consisting of this Warrant and one share of the Company’s Common Stock (the “Voting
Share”). 
 D. The Voting Share shall entitle the Holder to one (1) vote on all matters presented to the stockholders of the
Company for a vote of the stockholders of the Company. 

 E. The Holder further acknowledges and agrees that, as of the date of this Warrant, the Prior
Warrants shall no longer be of any further force or effect and are superseded and replaced in their entirety by this Warrant. 
 1.
Warrant. Subject to the terms and conditions hereinafter set forth, the Holder is entitled, upon surrender of this Warrant at the principal office of the Company (or at such other place as the Company shall notify the Holder hereof in
writing), to purchase up to [Twelve Million (12,000,000)]1 shares of Common Stock of the Company, par value $0.0001 per share (such stock, the “Common Stock”; such shares, the
“Warrant Shares”). 
 2. Exercise Period. Subject to the terms and conditions set forth herein, this Warrant
shall be exercisable, in whole or in part, at any time after the date that is one (1) year after the date of this Warrant until the earlier of (a) the date that is four (4) years after the date of this Warrant and
(b) immediately prior to the completion of an Acceleration Event (as defined below) (such period, the “Exercise Period”). For the purposes of clarity, the Exercise Period shall end and this Warrant shall no longer be
exercisable and shall become null and void and of no further force or effect (except for the right to receive the cash, securities or other property to which the Holder would be entitled by virtue of exercising this Warrant immediately prior to the
completion of such Acceleration Event) upon the consummation of an Acceleration Event. If the Company proposes to undertake an Acceleration Event, it shall provide written notice thereof to Holder not less than twenty (20) days prior to the
expected completion date of such Acceleration Event. In the event this Warrant is not formally exercised by the Holder prior to the completion of an Acceleration Event, then this Warrant shall be deemed exercised automatically pursuant to
Section 4(b) hereof immediately prior to the completion of such Acceleration Event. As used herein, “Acceleration Event” means (i) the closing of the sale, transfer or other disposition of all or substantially all of the
Company’s assets, (ii) the consummation of the merger of the Company (directly or indirectly) with or into another entity (except a merger in which the holders of capital stock of the Company immediately prior to such merger continue to
hold at least 50% of the voting power of the capital stock of the Company or the surviving or acquiring entity immediately after such merger), or (iii) a liquidation, dissolution or winding up of the Company. 

3. Exercise Price. The exercise price per Warrant Share shall be equal to the average of the closing prices of Common Stock of
the Company as quoted on the NASDAQ CM for the thirty (30) consecutive trading days commencing with the first trading day immediately following the Effective Time (as defined in the Merger Agreement). 

4. Exercise of Warrant. 

(a) The purchase rights represented by this Warrant are exercisable by the Holder in whole or in part at any time, or from time to time, as
described above, by the surrender of this Warrant and delivery to the Company of an exercise notice in substantially the form attached hereto as Exhibit A (the “Notice of Exercise”) and upon payment: (i) in cash or by
check or wire transfer of immediately available funds; (ii) by cancellation by the Holder of indebtedness or other obligations owed by the Holder to the Company; or (iii) by combination of (i) and (ii), of the purchase price of the
Warrant Shares to be purchased. 
 (b) Net Issuance. In lieu of payment of the Exercise Price in accordance with Section 4(a),
the Holder may, in accordance with and pursuant to the Notice of Exercise, elect to receive, 
  

	1 	 NTD: To be adjusted proportionately for each fund.

  
 2 

 
without the payment by the Holder of any additional consideration, such number of fully paid and nonassessable Warrant Shares as is computed using the following formula: 

 

			
	 where:
	  	 X = Y (A – B)

    A 

  

	 	X =	the number of shares to be issued to the Holder pursuant to this Section 4(b) 

  

	 	Y =	the number of shares covered by the Warrant in respect of which the net issuance election is made pursuant to this Section 4(b) 

 

	 	A =	the fair market value of one share of Warrant Shares, as determined in accordance with the provisions of this Section 4(b) 

  

	 	B =	the Exercise Price in effect at the time the net issuance election is made pursuant to this Section 4(b) 

For purposes of this Section 4(b), the “fair market value” shall mean, on any given day (the “Determination
Date”): (A) if the class of Warrant Shares is exchange-traded, the average of the closing sales prices per share of the class of Warrant Shares for the ten (10) consecutive trading days ending on the day that is two (2) trading
days prior to the Determination Date; or (B) if the class of Warrant Shares is not listed or admitted to trading on any securities exchange but is regularly traded in any
over-the-counter market, then the average of the bid and ask prices per share of the class of Warrant Shares for the ten (10) consecutive trading days ending on the
day that is two (2) trading days prior to the applicable date of determination of fair market value; or (C) if the class of Warrant Shares is not sold or traded as described in clauses (A) or (B), then the per share fair market value
of the class of Warrant Shares as determined in good faith by the Company’s Board of Directors. 
 (c) Mechanics of Exercise.
Following the Company’s receipt of a completed Notice of Exercise and the surrender of this Warrant, Certificates for Warrant Shares purchased hereunder shall be transmitted by the Company’s transfer agent for its Common Stock to the
Holder by crediting the account of the Holder’s prime broker with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the Company is then a participant in such system and either
(A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by the Holder or (B) this Warrant is being exercised via cashless exercise and Rule 144 is available. If DWAC
delivery is not available, the Warrant Shares will be delivered in certificated form by physical delivery to the address specified by the Holder in the Notice of Exercise by the date that is three (3) trading days after the latest of
(A) the delivery to the Company of the Notice of Exercise, (B) surrender of this Warrant (if required) and (C) payment of the aggregate Exercise Price as set forth above (including by cashless exercise, if permitted). The Warrant
Shares shall be deemed to have been issued, and the Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such shares for all purposes, as of the date the Warrant has been exercised, with
payment to the Company of the Exercise Price (or by cashless exercise, if permitted). If this Warrant shall have been exercised in part, the Company shall, at the request of the Holder and upon surrender of this Warrant, deliver to the Holder a new
Warrant evidencing the rights of the Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant. 

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 or an indemnity agreement reasonably satisfactory in form and substance to the 

  
 3 

 
Company or, in the case of mutilation, on surrender and cancellation of this Warrant, the Company, at the Holder’s expense, shall execute and deliver, in lieu of this Warrant, a new warrant
of like tenor and amount. 
 6. No Stockholder Rights; Voting Rights. Prior to exercise of the Warrant, the Holder shall not
be entitled to any rights of a stockholder with respect to the Warrant Shares, including (without limitation) the right to (a) receive dividends or other distributions thereon, and (b) the Holder shall not be entitled to any notice or
other communication concerning the business or affairs of the Company with respect to such Warrant Shares, except as otherwise provided herein. 

7. Transferability; Unit Characteristics; Cancellation of the Voting Share.  

(a) Subject to Section 7(b) below, this Warrant together with the rights, interests and obligations hereunder may be assigned or
transferred in whole by the Holder to any person or entity so long as: (i) all applicable federal and state securities laws by the transferor and the transferee (including the delivery of investment representation letters and legal opinions
reasonably satisfactory to the Company, if such are requested by the Company), have been complied with, and (ii) the assignee agrees to be bound by the terms and conditions set forth herein, including, without limitation, executing the
applicable agreements upon exercise of this Warrant. In order to effect such a transfer the Holder must provide the Company with advance written notice of such transfer together with the identity of the transferee. 

(b) The Holder acknowledges and agrees that this Warrant has been issued as a unit consisting of this Warrant and the Voting Share.
Notwithstanding anything to the contrary herein, to the extent a valid transfer of the Warrant is proposed pursuant to Section 7(a) above, then the Voting Share must also be validly transferred or assigned to such transferee or assignee in
order for the transfer of the Warrant to be valid, it being understood that this Warrant and the Voting Share constitute a unit. Holder agrees to execute and deliver to the Company an assignment separate from certificate to effect any such transfer
of the Voting Share and no transfer of the Warrant will be valid unless and until the Voting Share is transferred to the same transferee. 

(c) The requirements set forth in Section 7(b) shall cease to be in effect at such time as this Warrant is fully exercised. 

8. Amendments. 

(a) Any term of this Warrant may be amended or waived with the written consent of the Company and the Holder. 

(b) No waivers of, or exceptions to, any term, condition or provision of this Warrant, in any one or more instances, shall be deemed to be, or
construed as, a further or continuing waiver of any such term, condition or provision. 
 9. Adjustment of Exercise Price and Number
of Shares. The number of and kind of securities purchasable upon exercise of the Warrant and the exercise price shall be subject to adjustment from time to time as follows: 

(a) Subdivisions, Combinations and Other Issuances. If the Company shall at any time prior to the expiration of the Warrant subdivide
the class of securities that includes the Warrant Shares, by split-up or otherwise, or combine or reverse split the class of securities that includes the Warrant Shares, or issue additional shares of the class
of securities that includes the Warrant Shares as a 

  
 4 

 
dividend with respect to the class of securities that includes the Warrant Shares, the number of Warrant Shares issuable on the exercise of the Warrant shall forthwith be proportionately
increased in the case of a subdivision or stock dividend, or proportionately decreased in the case of a combination or reverse split. Appropriate adjustments shall also be made to the exercise price payable per share, but the aggregate exercise
price payable for the total number of shares of the Company’s capital stock purchasable under the Warrant (as adjusted) shall remain the same. Any adjustment under this Section 9(a) shall become effective at the close of business on
the date the subdivision, split, combination or reverse split, or whatever the case may be, becomes effective, or as of the record date of such dividend, or in the event that no record date is fixed, upon the making of such dividend. 

(b) Reclassification, Reorganization and Consolidation. Except for an Acceleration Event which shall be governed by Section 2
hereof, in case of any other merger, reclassification, capital reorganization, or change in the Company’s capital stock (other than as a result of an Acceleration Event or a subdivision, combination, or stock dividend provided for in
Section 9(a) above) then, as a condition of such merger, reclassification, reorganization, or change, lawful provision shall be made, and duly executed documents evidencing the same from the Company or its successor shall be delivered to the
Holder with respect to this Warrant, so that the Holder shall have the right at any time prior to the expiration of the Exercise Period to purchase, at a total price equal to that payable upon the full exercise of this Warrant, the kind and amount
of shares of stock and other securities and property receivable in connection with such merger, reclassification, reorganization, or change by a holder of the same number of Warrant Shares as were purchasable by the Holder pursuant to the Warrant
immediately prior to such merger, reclassification, reorganization, or change. In any such case appropriate provisions shall be made with respect to the rights and interest of the Holder so that the provisions hereof shall thereafter be applicable
with respect to any shares of stock or other securities and property deliverable upon exercise hereof, and appropriate adjustments shall be made to the Exercise Price per share payable hereunder, provided the aggregate Exercise Price shall remain
the same. 
 (c) Notice of Adjustment. When any adjustment is required to be made in the number or kind of shares purchasable upon
exercise of the Warrant, or in the Exercise Price, the Company shall promptly notify the Holder of such event and of the number of shares of the Company’s capital stock or other securities or property thereafter purchasable upon exercise of the
Warrant and any resulting changes to the Exercise Price. 
 (d) No Fractional Shares or Scrip. No fractional shares or scrip
representing fractional shares shall be issued upon the exercise of the Warrant, but in lieu of such fractional shares the Company shall make a cash payment therefor. 

10. Miscellaneous. 

(a) Governing Law. This Agreement and the rights and obligations of the parties set forth herein shall be governed by, construed and
interpreted in accordance with the internal laws of the State of Delaware (including its Uniform Commercial Code), but without giving effect to its laws or rules relating to conflicts of laws. 

(b) Successors and Assigns. The terms and provisions of this Warrant shall inure to the benefit of, and be binding upon, the respective
successors and permitted assigns of the parties. Nothing in this Warrant, express or implied, in intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations, or
liabilities under or by reason of this Warrant, except as expressly provided in this Warrant. 

  
 5 

 (c) Severability. If any provision of this Warrant is determined by any court or
arbitrator of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such provision will be enforced to the maximum extent possible. If such clause or provision cannot be so enforced, such provision shall be stricken from
this Warrant and the remainder of this Warrant shall be enforced as if such invalid, illegal or unenforceable clause or provision had (to the extent not enforceable) never been contained in this Warrant. 

(d) Notice. All notices and other communications provided for or permitted hereunder shall be in writing and shall be deemed properly
delivered, given and received: (a) if delivered by hand, when delivered; (b) if sent on a business day by email before 11:59 p.m. (recipient’s time), when transmitted; (c) if sent by email on a day other than a business day, or
if sent by email after 11:59 p.m. (recipient’s time), on the business day following the date when transmitted; (d) if sent by registered, certified or first class mail, the third business day after being sent; and (e) if sent by
overnight delivery via a national courier service, one business day after being sent, in each case to the person and address set forth on the signature page hereof for Holder and with respect to the Company at their principal place of business to
the attention of the Company’s chief financial officer as set forth in the SEC Reports (or to such other address as such party shall have specified in a written notice given to the other parties hereto). 

[Signature page follows] 

  
 6 

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

			
	THE COMPANY:
	
	Neothetics, Inc.,
	a Delaware corporation

 
			
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	ACKNOWLEDGED AND AGREED:
	
	HOLDER:

			
		
	By:	 	 

			
	Name:	 	 

			
	Title:	 	 

			
	Address:	 	 

 SIGNATURE PAGE TO WARRANT 

 EXHIBIT A 

NOTICE OF EXERCISE 
 TO: [NORMANDY], INC.

 (1) The undersigned hereby elects to purchase ________ Warrant Shares of the Company pursuant to the terms of that certain Amended and
Restated Warrant to Purchase Common Stock attached hereto2, and tenders herewith payment of the exercise price in full. 

(2) Payment shall take the form of (check applicable box): 

☐ in lawful money of the United States; or 

☐ the cancellation of such number of Warrant Shares as is necessary, in accordance with the formula set forth in Section 4(b), to
exercise this Warrant with respect to the maximum number of Warrant Shares purchasable pursuant to the cashless exercise procedure set forth in Section 4(b). 

(3) Please register said Warrant Shares in the name of the undersigned or in such other name as is specified below: 

 

                       
                                      

The Warrant Shares shall be delivered to the following DWAC Account Number or by physical delivery of a certificate to: 

 

                       
                                      

 

                       
                                      

 

                       
                                      

 

			
	[SIGNATURE OF HOLDER]
	
	 

			
		
	Name:	 	 
		
	Title: 	 	 

  
  

	2 	Original Warrant should be attached to this form and delivered to the Company for each exercise.

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