Document:

Exhibit
No. 10.31

 

INDEMNIFICATION AGREEMENT

 

THIS INDEMNIFICATION
AGREEMENT is made effective as of the 24th day of January, 2003 (the
“Agreement”), by and between NANOGEN, INC., a Delaware corporation (the
“Company”) and GRAHAM LIDGARD (the “Indemnitee”) with reference to the
following facts:

 

WHEREAS, the Company
desires the benefits of having Indemnitee serve as an officer and/or director
secure in the knowledge that any expenses, liability and/or losses incurred by
him in his good faith service to the Company will be borne by the Company or
its successors and assigns; and

 

WHEREAS, Indemnitee is
willing to serve in his position with the Company only on the condition that he
be indemnified for such expenses, liability and/or losses; and

 

WHEREAS, the Company and
Indemnitee recognize the increasing difficulty in obtaining liability insurance
for directors, officers and agents of a corporation at reasonable cost; and

 

WHEREAS, the Company and
Indemnitee recognize that there has been an increase in litigation against
corporate directors, officers and agents; and

 

WHEREAS, the Company’s
Restated Certificate of Incorporation allows and requires the Company to
indemnify its directors, officers and agents to the maximum extent permitted
under Delaware law:

 

NOW, THEREFORE, the
parties hereby agree as follows:

 

1.             Definitions.  
For purposes of this Agreement:

 

1.1           “Agent” shall mean any person who
(a) is or was a director, officer, employee or agent of the Company or a
subsidiary of the Company whether serving in such capacity or as a director,
officer, employee, agent, fiduciary or other official of another corporation,
joint venture, trust or other enterprise at the request of, for the convenience
of, or to represent the interests of the Company or a subsidiary of the Company
or (b) was a director, officer, employee or agent of Nanogen, Inc., a
California corporation and the predecessor by merger to the Company (the
“Predecessor Corporation”), whether serving in such capacity or as a director,
officer, employee, agent, fiduciary or other official of another corporation,
joint venture, trust or other enterprise at the request of, for the convenience
of, or to represent the interests of such Predecessor Corporation.

 

1.2           “Change of Control” shall mean the
occurrence of any of the following events after the date of this Agreement:

 

 

(a)           A change in the composition of the
board of directors of the Company (the “Board”), as a result of which fewer
than two-thirds of the incumbent directors are directors who either (a) had
been directors of the Company 24 months prior to such change or (b) were
elected, or nominated for election, to the Board with the affirmative votes of
at least a majority of the directors who had been directors of the Company 24
months prior to such change and who were still in office at the time of the
election or nomination; or

 

(b)           Any “person” (as such term is used in
sections 13(d) and 14(d) of the Securities Exchange Act of 1934 (the “Exchange
Act”), as amended) through the acquisition or aggregation of securities is or
becomes the beneficial owner, directly or indirectly, of securities of the
Company representing 20 percent or more of the combined voting power of the
Company’s then outstanding securities ordinarily (and apart from rights accruing
under special circumstances) having the right to vote at elections of directors
(the “Capital Stock”); provided, however, that any change in ownership
of the Company’s securities by any person resulting solely from a reduction in
the aggregate number of outstanding shares of Capital Stock, and any decrease
thereafter in such person’s ownership of securities, shall be disregarded until
such person increases in any manner, directly or indirectly, such person’s
beneficial ownership of any securities of the Company.

 

1.3           “Disinterested Director” shall mean a
director of the Company who is not and was not a party to the Proceeding in
respect of which indemnification is being sought by Indemnitee.

 

1.4           “Expenses” shall be broadly construed
and shall include, without limi­ta­tion, (a) all direct and indirect costs
incurred, paid or accrued, (b) all attorneys’ fees, retainers, court
costs, transcripts, fees of experts, witness fees, travel expenses, food and
lodging expenses while traveling, duplicating costs, printing and binding
costs, telephone charges, postage, delivery service, freight or other
transportation fees and expenses, (c) all other disbursements and out-of-pocket
expenses, (d) amounts paid in settlement, to the extent not prohibited by
Delaware Law, and (e) reasonable compensation for time spent by Indemnitee
for which he is otherwise not compensated by the Company or any third party,
actually and reasonably incurred in connection with or arising out of a
Proceeding, including a Proceeding by Indemnitee to establish or enforce a
right to indemnification under this Agreement, applicable law or otherwise.

 

1.5           “Independent Counsel” shall mean a
law firm or a member of a law firm that neither is presently nor in the past
five years has been retained to represent: 
(a) the Company, an affiliate of the Company or Indemnitee in any
matter material to either party or (b) any other party to the Proceeding
giving rise to a claim for indemnification hereunder.  Notwithstanding the foregoing, the term “Independent Counsel”
shall not include any person who, under the applicable standards of
professional conduct then prevailing, would have a conflict of interest in
representing either the Company or Indemnitee in an action to determine
Indemnitee’s right to indemnification under this Agreement.

 

1.6           “Liabilities” shall mean liabilities
of any type whatsoever, including, but not limited to, judgments or fines,
ERISA or other excise taxes and penalties, and amounts paid in settlement
(including all interest, assessments or other charges paid or payable in
connection with

 

2

 

any of the foregoing) actually and reasonably incurred by Indemnitee in
connection with a Proceeding.

 

1.7           “Delaware Law” means the Delaware
General Corporation Law, as amended and in effect from time to time, or any
successor or other statutes of Delaware having similar import and effect.

 

1.8           “Proceeding” shall mean any pending,
threatened or completed action, hearing, suit or any other proceeding, whether
civil, criminal, arbitrative, admini­strative, investigative or any alternative
dispute resolution mechanism, including without limitation any such Proceeding
brought by or in the right of the Company.

 

2.             Employment Rights and Duties.   Subject to any other obligations imposed on
either of the parties by contract or by law, and with the understanding that
this Agreement is not intended to confer employment rights on either party
which they did not possess on the date of its execution, Indemnitee agrees to
serve as a director or officer so long as he is duly appointed or elected and
qualified in accordance with the applicable provisions of the Restated
Certificate of Incorporation (the “Certificate”) and Bylaws (the “Bylaws”) of
the Company or any subsidiary of the Company and until such time as he resigns
or fails to stand for election or until his employment terminates.  Indemnitee may from time to time also
perform other services at the request, or for the convenience of, or otherwise
benefiting the Company.  Indemnitee may
at any time and for any reason resign or be removed from such position (subject
to any other contractual obligation or other obligation imposed by operation of
law), in which event the Company shall have no obligation under this Agreement
to continue Indemnitee in any such position.

 

2.1           Directors’ and Officers’ Insurance.

 

(a)           The Company hereby covenants and
agrees that, so long as Indemnitee shall continue to serve as a director or
officer of the Company and thereafter so long as Indemnitee shall be subject to
any possible Proceeding, the Company, subject to Section 2.1(c), shall maintain
directors’ and officers’ insurance in full force and effect.

 

(b)           In all policies of directors’ and
officers’ insurance, Indemnitee shall be named as an insured in such a manner
as to provide Indemnitee the same rights and benefits, subject to the same
limitations, as are accorded to the Company’s directors or officers most
favorably insured by such policy.

 

(c)           The Company shall have no obligation
to maintain directors’ and officers’ insurance if the Company determines in
good faith that such insurance is not reasonably available, the premium costs
for such insurance are disproportionate to the amount of coverage provided, or
the coverage provided by such insurance is limited by exclusions so as to
provide an insufficient benefit.

 

3.             Indemnification. 
The Company shall indemnify Indemnitee to the fullest extent authorized
or permitted by Delaware Law and the provisions of the Certificate and Bylaws
of the Company in effect on the date hereof, and as Delaware Law, the
Certificate and Bylaws may

 

3

 

from time to time be amended (but, in the case of any such amendment,
only to the extent such amendment permits the Company to provide broader
indemnification rights than Delaware Law, the Certificate and/or Bylaws
permitted the Company to provide before such amend­ment).  The right to indemnification conferred in
the Certificate shall be presumed to have been relied upon by Indemnitee in
serving or continuing to serve the Company as a director or officer and shall
be enforceable as a contract right. 
Without in any way diminishing the scope of the indemnification provided
by the Certificate and this Section 3, the Company shall indemnify
Indemnitee if and whenever he is or was a witness, party or is threatened to be
made a witness or a party to any Proceeding, by reason of the fact that he is
or was an Agent or by reason of anything done or not done, or alleged to have
been done or not done, by him in such capacity, against all Expenses and
Liabilities actually and reasonably incurred by Indemnitee or on his behalf in
connection with the investigation, defense, settlement or appeal of such
Proceeding.  In addition to, and not as
a limitation of, the foregoing, the rights of indemnification of Indemnitee
provided under this Agreement shall include those rights set forth in
Sections 4, 5 and 6 below.

 

4.             Payment of Expenses.

 

4.1           All Expenses incurred by or on behalf
of Indemnitee shall be advanced by the Company to Indemnitee within 20 days
after the receipt by the Company of a written request for such advance which
may be made from time to time, whether prior to or after final disposition of a
Proceeding (unless there has been a final determination by a court of competent
jurisdiction that Indemnitee is not entitled to be indemnified for such
Expenses).  Indemnitee’s entitlement to
advancement of Expenses shall include those incurred in connection with any
Proceeding by Indemnitee seeking a determination, an adjudication or an award
in arbitration pursuant to this Agreement. The requests shall reasonably
evidence the Expenses incurred by Indemnitee in connection therewith.  Indemnitee hereby undertakes to repay the
amounts advanced if it shall ultimately be determined that Indemnitee is not
entitled to be indemnified pursuant to the terms of this Agreement.

 

4.2           Notwithstanding any other provision
in this Agreement, to the extent that Indemnitee has been successful on the
merits or otherwise in defense of any Proceeding, Indemnitee shall be
indemnified against all Expenses actually and reasonably incurred by Indemnitee
in connection therewith.

 

5.             Procedure for Determination of Entitlement to
Indemnification.

 

5.1           Whenever Indemnitee believes that he
is entitled to indemnification pursuant to this Agreement, Indemnitee shall
submit a written request for indemni­fi­cation (the “Indemnification Request”)
to the Company to the attention of the President with a copy to the
Secretary.  This request shall include
documentation or information which is necessary for the determination of
entitlement to indemni­fi­cation and which is reasonably available to
Indemnitee. Determination of Indemnitee’s entitlement to indemnification shall
be made no later than 60 days after receipt of the Indemnification
Request.  The President or the Secretary
shall, promptly upon receipt of Indemnitee’s request for indemnification,
advise the Board in writing that Indemnitee has made such request for
indemnification.

 

4

 

5.2           The Indemnification Request shall set
forth Indemnitee’s selection of which of the following forums shall determine
whether Indemnitee is entitled to indemnification:

 

(1)           A majority vote of Directors who are
not parties to the action with respect to which indemnification is sought, even
though less than a quorum.

 

(2)           A written opinion of an Independent
Counsel (provided there are no such Directors as set forth in (1) above or if
such Directors as set forth in (1) above so direct).

 

(3)           A majority vote of the stockholders
at a meeting at which a quorum is present, with the shares owned by the person
to be indemnified not being entitled to vote thereon.

 

(4)           The court in which the Proceeding is
or was pending upon application by Indemnitee.

 

The Company agrees to
bear any and all costs and expenses incurred by Indemnitee or the Company in
connection with the determination of Indemnitee’s entitlement to
indemnification by any of the above forums.

 

6.             Presumptions and Effect of Certain Proceedings.  No initial finding by the Board, its
counsel, Independent Counsel, arbitrators or the stockholders shall be
effective to deprive Indemnitee of the protection of this indemnity, nor shall a
court or other forum to which Indemnitee may apply for enforcement of this
indemnity give any weight to any such adverse finding in deciding any issue
before it.  Upon making a request for
indemnification, Indemnitee shall be presumed to be entitled to indemnification
under this Agreement and the Company shall have the burden of proof to overcome
that presumption in reaching any contrary determination.  The termination of any Proceeding by
judgment, order, settlement, arbitration award or conviction, or upon a plea of
nolo
contendere or its equivalent, shall not, of itself,
(a) adversely affect the rights of Indemnitee to indemnification except as
indemnifi­cation may be expressly prohibited under this Agreement,
(b) create a presumption that Indemnitee did not act in good faith and in
a manner which he reasonably believed to be in or not opposed to the best
interests of the Company or (c) with respect to any criminal action or
proceeding, create a presumption that Indemnitee had reasonable cause to believe
that his conduct was unlawful.

 

7.             Remedies of Indemnitee in Cases of Determination Not
to Indemnify or to Advance Expenses.

 

7.1           In the event that (a) an initial
determination is made that Indemnitee is not entitled to indemnification,
(b) advances for Expenses are not made when and as required by this
Agreement, (c) payment has not been timely made following a determination
of entitlement to indemnification pursuant to this Agreement or
(d) Indemnitee otherwise seeks enforcement of this Agreement, Indemnitee
shall be entitled to a final adjudication in an appropriate court of the State
of Delaware of his entitlement to such indemnification or advance.  Alternatively, Indemnitee at his option may
seek an award in arbitration.  If the
parties are unable to agree on an arbitrator, the parties shall provide JAMS
Endispute (“JAMS”) with a statement of the nature of the dispute and the
desired qualifications of the arbitrator. 
JAMS will then provide a list of three

 

5

 

available arbitrators.  Each
party may strike one of the names on the list, and the remaining person will
serve as the arbitrator.  If both
parties strike the same person, JAMS will select the arbitrator from the other
two names.  The arbitration award shall
be made within 90 days following the demand for arbitration.  Except as set forth herein, the provisions
of Delaware law shall apply to any such arbitration.  The Company shall not oppose Indemnitee’s right to seek any such
adjudication or arbitration award. In any such proceeding or arbitration
Indemnitee shall be presumed to be entitled to indemnification under this
Agreement and the Company shall have the burden of proof to overcome that
presumption.

 

7.2           An initial determination, in whole or
in part, that Indemnitee is not entitled to indemnification shall create no
presumption in any judicial proceeding or arbitration that Indemnitee has not
met the applicable standard of conduct for, or is otherwise not entitled to,
indemnification.

 

7.3           If an initial determination is made
or deemed to have been made pursuant to the terms of this Agreement that
Indemnitee is entitled to indemnifi­cation, the Company shall be bound by such
determination in the absence of (a) a misrepre­sentation of a material fact
by Indemnitee in the request for indemnification or (b) a specific finding
(which has become final) by a court of competent jurisdiction that all or any
part of such indemnification is expressly prohibited by law.

 

7.4           The Company and Indemnitee agree herein
that a monetary remedy for breach of this Agreement, at some later date, will
be inadequate, impracticable and difficult of proof, and further agree that
such breach would cause Indemnitee irreparable harm.  Accordingly, the Company and Indemnitee agree that Indemnitee
shall be entitled to temporary and permanent injunctive relief to enforce this
Agree­ment without the necessity of proving actual damages or irreparable
harm.  The Company and Indemnitee
further agree that Indemnitee shall be entitled to such injunctive relief,
including temporary restraining orders, preliminary injunctions and permanent
injunctions, without the necessity of posting bond or other undertaking in
connection therewith.  Any such requirement
of bond or undertaking is hereby waived by the Company, and the Company
acknowledges that in the absence of such a waiver, a bond or undertaking may be
required by the court.

 

7.5           The Company shall be precluded from
asserting that the procedures and presumptions of this Agreement are not valid,
binding and enforceable.  The Company
shall stipulate in any such court or before any such arbitrator that the
Company is bound by all the provisions of this Agreement and is precluded from
making any assertion to the contrary.

 

7.6           Expenses incurred by Indemnitee in
connection with his request for indemnification under, seeking enforcement of
or to recover damages for breach of this Agreement shall be borne and advanced
by the Company.

 

8.             Other Rights to Indemnification.  Indemnitee’s rights of indemnifi­cation and
advancement of expenses provided by this Agreement shall not be deemed
exclusive of any other rights to which Indemnitee may now or in the future be
entitled under applicable law, the

 

6

 

Certificate, the Bylaws, an employment agree­ment, a vote of
stockholders or Disinterested Directors, insurance or other financial
arrangements or otherwise.

 

9.             Limitations on Indemnification.  No indemnification pursuant to
Section 3 shall be paid by the Company nor shall Expenses be advanced
pursuant to Section 3:

 

9.1           Insurance.  To the extent that Indemnitee is reimbursed
pursuant to such insurance as may exist for Indemnitee’s benefit.  Notwithstanding the avail­ability of such
insurance, Indemnitee also may claim indemnification from the Company pursuant
to this Agreement by assigning to the Company any claims under such insurance
to the extent Indemnitee is paid by the Company.  Indemnitee shall reimburse the Company for any sums he receives
as indemnification from other sources to the extent of any amount paid to him
for that purpose by the Company;

 

9.2           Section 16(b).  On account and to the extent of any wholly
or partially successful claim against Indemnitee for an accounting of profits
made from the purchase or sale by Indemnitee of securities of the Company
pursuant to the provisions of Section 16(b) or the Securities Exchange Act of
1934, as amended, and amendments thereto or similar provisions of any federal,
state or local statutory law; or

 

9.3           Indemnitee’s Proceedings.  Except as otherwise provided in this
Agreement, in connection with all or any part of a Proceeding which is
initiated or maintained by or on behalf of Indemnitee, or any Proceeding by
Indemnitee against the Company or its directors, officers, employees or other
agents, unless (a) such indemnification is expressly required to be made
by Delaware Law, (b) the Proceeding was authorized by a majority of the
Disinterested Directors, (c) there has been a Change of Control or
(d) such indemnification is provided by the Company, in its sole
discretion, pursuant to the powers vested in the Company under Delaware Law.

 

10.           Duration and Scope of Agreement;
Binding Effect.  This Agreement
shall continue so long as Indemnitee shall be subject to any possible
Proceeding subject to indemnification by reason of the fact that he is or was
an Agent and shall be applicable to Proceedings commenced or continued after
execution of this Agreement, whether arising from acts or omissions occurring
before or after such execution.  This
Agreement shall be binding upon the Company and its successors and assigns
(including any direct or indirect successor by purchase, merger, consolidation
or otherwise to all or substantially all of the business or assets of the
Company) and shall inure to the benefit of Indemnitee and his spouse, assigns,
heirs, devisees, executors, administrators and other legal representatives.

 

11.           Notice by Indemnitee and Defense
of Claims.  Indemnitee agrees
promptly to notify the Company in writing upon being served with any summons,
citation, subpoena, complaint, indictment, information or other document
relating to any matter which may be subject to indemnification hereunder,  whether civil,  criminal, 
arbitrative,  administrative or investigative;

 

7

 

but the omission so to
notify the Company will not relieve it from any liability which it may have to
Indemnitee if such omission does not actually prejudice the Company’s rights
and, if such omission does prejudice the Company’s rights, it will relieve the
Company from liability only to the extent of such prejudice; nor will such
omission relieve the Company from any liability which it may have to Indemnitee
otherwise than under this Agreement. 
With respect to any Proceeding:

 

(a)           The Company will be entitled to
participate therein at its own expense;

 

(b)           Except as otherwise provided below,
to the extent that it may wish, the Company jointly with any other indemnifying
party similarly notified will be entitled to assume the defense thereof, with
counsel reasonably satisfactory to Indemnitee. After notice from the Company to
Indemnitee of its election so to assume the defense thereof and the assumption
of such defense, the Company will not be liable to Indemnitee under this
Agreement for any attorney fees or costs subsequently incurred by Indemnitee in
connection with Indemnitee’s defense except as otherwise provided below.  Indemnitee shall have the right to employ
his counsel in such Proceeding but the fees and expenses of such counsel
incurred after notice from the Company of its assumption of the defense thereof
and the assumption of such defense shall be at the expense of Indemnitee unless
(i) the employment of counsel by Indemnitee has been authorized by the
Company, (ii) Indemnitee shall have reasonably concluded that there may be
a conflict of interest between the Company and Indemnitee in the conduct of the
defense of such action or that the Company’s counsel may not be adequately representing
Indemnitee or (iii) the Company shall not in fact have employed counsel to
assume the defense of such action, in each of which cases the fees and expenses
of counsel shall be at the expense of the Company; and

 

(c)           The Company shall not be liable to
indemnify Indemnitee under this Agreement for any amounts paid in settlement of
any action or claim effected without its written consent.  The Company shall not settle any action or
claim which would impose any limitation or penalty on Indemnitee without
Indemnitee’s written consent.  Neither
the Company nor Indemnitee will unreasonably withhold its or his consent to any
proposed settlement.

 

11.1         Contribution.  In order to provide for just and equitable
contribution in circumstances in which the indemnification provided for in this
Agreement is held by a court of competent jurisdiction to be unavailable to
Indemnitee in whole or part, the Company shall, in such an event, after taking
into account, among other things, contributions by other directors and officers
of the Company pursuant to indemnification agreements or otherwise, and, in the
absence of personal enrichment, acts of intentional fraud or dishonesty or
criminal conduct on the part of Indemnitee, contribute to the payment of
Indemnitee’s losses to the extent that, after other contributions are taken
into account, such losses exceed: 
(i) in the case of a director of the Company or any of its
subsidiaries who is not an officer of the Company or any of such subsidiaries,
the amount of fees paid to the director for serving as a director during the 12
months preceding the commencement of the Proceeding; or (ii) in the case
of a director of the Company or any of its subsidiaries who is also an officer
of the Company or any of such subsidiaries, the amount set forth in clause (i)
plus 5% of the aggregate cash compensation paid to said director for service in
such office(s) during the 12 months preceding the commencement of the
Proceeding; or (iii) in the case of an officer of the Corporation or any
of its subsidiaries, 5% of

 

8

 

the aggregate cash compensation paid to such officer for service in
such office(s) during the 12 months preceding the commencement of such
Proceeding.

 

12.           Establishment of Trust.  In order to secure the obligations of the
Company to indemnify and to advance Expenses to Indemnitee pursuant to this
Agreement, upon a Change of Control of the Company, the Company or its
successor or assign shall establish a Trust (the “Trust”) for the benefit of
the Indemnitee, the trustee (the “Trustee”) of which shall be chosen by the
Company and which is reasonably acceptable to the Indemnitee.  Thereafter, from time to time, upon receipt
of a written request from Indemnitee, the Company shall fund the Trust in
amounts sufficient to satisfy any and all Liabilities and Expenses reasonably
anticipated at the time of such request for which the Company may indemnify
Indemnitee hereunder.  The amount or
amounts to be deposited in the Trust pursuant to the foregoing funding
obligation shall be determined by mutual agreement of the Indemnitee and the
Company or, if the Company and the Indemnitee are unable to reach such an
agreement, by Independent Counsel selected jointly by the Company and the
Indemnitee.  The terms of the Trust
shall provide that except upon the consent of the Indemnitee and the Company,
(i) the Trust shall not be revoked or the principal thereof invaded,
without the written consent of the Indemnitee, (ii) the Trustee shall
advance to the Indemnitee, within 20 days of a request by the Indemnitee, any
and all Expenses, the Indemnitee hereby agreeing to reimburse the Trustee of
the Trust for all Expenses so advanced if a final determi­nation is made by a
court in a final adjudication from which there is no further right of appeal
that the Indemnitee is not entitled to be indemnified under this Agreement,
(iii) the Trust shall continue to be funded by the Company in accordance
with the funding obligations set forth in this Section, (iv) the Trustee
shall promptly pay to the Indemnitee any amounts to which the Indemnitee shall
be entitled pursuant to this Agreement, and (v) all unexpended funds in
the Trust shall revert to the Company upon a final determination by Independent
Counsel selected by Indemnitee or a court of competent jurisdiction that
Indemnitee has been fully indemnified with respect to the Proceeding giving
rise to the funding of the Trust under the terms of this Agreement.  The establishment of the Trust shall not, in
any way, diminish the Company’s obligation to indemnify Indemnitee against
Expenses and Liabilities to the full extent required by this Agreement.

 

13.           Miscellaneous Provisions.

 

13.1         Severability; Partial Indemnity.  If any provision or provisions of this
Agreement (or any portion thereof) shall be held by a court of competent juris­diction
to be invalid, illegal or unenforceable for any reason whatever:  (a) such provision shall be limited or
modified in its application to the minimum extent necessary to avoid the invalidity,
illegality or unenforceability of such provision; (b) the validity,
legality and enforceability of the remaining provisions of this Agreement shall
not in any way be affected or impaired thereby; and (c) to the fullest
extent possible, the provisions of this Agreement shall be construed so as to
give effect to the intent manifested by the provision (or portion thereof) held
invalid, illegal or unenforceable.  If
Indemnitee is entitled under any provision of this Agreement to indemnification
by the Company for some or a portion of any Expenses or Liabilities of any type
whatsoever incurred by him in the investigation, defense, settlement or appeal
of a Proceeding but not entitled to all of the total amount thereof, the
Company shall nevertheless indemnify Indemnitee for such total amount

 

9

 

except as to the portion thereof for which it has been determined
pursuant to Section 5 hereof that Indemnitee is not entitled.

 

13.2         Identical Counterparts.  This Agreement may be executed in one or
more counterparts, each of which shall for all purposes be deemed to be an
original but all of which together shall constitute one and the same
Agreement.  Only one such counterpart
signed by the party against whom enforceability is sought needs to be produced
to evidence the existence of this Agreement.

 

13.3         Interpretation of Agreement.  It is understood that the parties hereto
intend this Agreement to be interpreted and enforced so as to provide indemnifi­cation
to Indemnitee to the fullest extent not now or hereafter prohibited by law.

 

13.4         Headings.  The headings of the Sections and paragraphs
of this Agreement are inserted for convenience only and shall not be deemed to
constitute part of this Agreement or to affect the construction thereof.

 

13.5         Pronouns.  Use of the masculine pronoun shall be deemed
to include use of the feminine pronoun where appropriate.

 

13.6         Modification and Waiver.  No supplement, modification or amendment of
this Agreement shall be binding unless executed in writing by both of the
parties to this Agreement.  No waiver of
any provision of this Agreement shall be deemed to constitute a waiver of any
of the provisions hereof (whether or not similar) nor shall such waiver
constitute a continuing waiver.  No
waiver of any provision of this Agreement shall be effective unless executed in
writing.

 

13.7         Notices.  All notices, requests, demands and other
communications hereunder shall be in writing and shall be deemed to have been
duly given if (i) delivered by hand and receipted for by the party to whom
said notice or other communication shall have been directed or (ii) mailed
by certified or registered mail with postage prepaid, on the third business day
after the date on which it is so mailed:

 

(a)           If to Indemnitee, to:

 

Graham Lidgard

Nanogen, Inc.

10398 Pacific Center
Court

San Diego,
California  92121

Telephone:  (858)
410-4600

Telefax:       (858)
410-4949

 

10

 

(b)           If to the Company to:

 

Nanogen, Inc.

10398 Pacific Center Court

San Diego, California  92121

Telephone:  (858) 410-4600

Telefax:       (889) 410-4949

Attention:    Chief Executive Officer

 

or to such other address as may have been furnished to Indemnitee by
the Company or to the Company by Indemnitee, as the case may be.

 

13.8         Governing Law.  The parties agree that this Agreement shall
be governed by, and construed and enforced in accordance with, the laws of the
State of Delaware, as applied to contracts between Delaware residents entered
into and to be performed entirely within Delaware.

 

13.9         Consent to Jurisdiction.  The Company and Indemnitee each hereby
irrevocably consent to the jurisdiction of the courts of the State of Delaware
for all purposes in connection with any action or proceeding which arises out
of or relates to this agreement and agree that any action instituted under this
agreement shall be brought only in the state courts of the State of Delaware.

 

13.10       Entire Agreement.  This Agreement represents the entire
agreement between the parties hereto, and there are no other agreements,
contracts or understanding between the parties hereto with respect to the
subject matter of this Agreement, except as specifically referred to herein or
as provided in Sections 8 and 2.1 hereof.

 

IN WITNESS WHEREOF, the
parties hereto have executed this Agreement on the day and year first above
written.

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
  NANOGEN, INC.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  By:

  	
  /s/ HOWARD C. BIRNDORF

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Howard C. Birndorf

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Chief Executive Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  INDEMNITEE

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  /s/ GRAHAM LIDGARD

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Graham Lidgard

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Senior VP, Research and
  Development

  
								

 

11EXHIBIT

4.3

 

	

  No.

  A-1

  	

   

  	

  400,000

  Shares

  

 

REFOCUS

GROUP, INC.

 

WARRANT

TO PURCHASE COMMON STOCK

 

VOID

AFTER 5:30 P.M., EASTERN STANDARD

TIME, ON

THE EXPIRATION DATE

 

THIS WARRANT AND ANY SHARES ACQUIRED

UPON THE EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES

ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD, PLEDGED,

HYPOTHECATED, DONATED OR OTHERWISE TRANSFERRED WITHOUT COMPLIANCE WITH THE

REGISTRATION OR QUALIFICATION PROVISIONS OF APPLICABLE FEDERAL AND STATE

SECURITIES LAWS OR APPLICABLE EXEMPTIONS THEREFROM.

 

FOR VALUE RECEIVED, Refocus Group, Inc., a Delaware

corporation (the “Company”), hereby agrees to sell upon the terms and on the

conditions hereinafter set forth, but no later than 5:30 p.m., Eastern Standard

Time, on the Expiration Date (as hereinafter defined) to NBCN Clearing Inc., in trust for

Kingsdale Capital Markets Inc., (“Kingsdale”) or registered assigns

(the “Holder”), under the terms as hereinafter set forth, four hundred thousand

(400,000) fully paid and non-assessable shares of the Company’s Common Stock,

par value $.0001 per share (the “Warrant Stock”), at a purchase price per share

of Two and 50/100 Dollars ($2.50) (the “Warrant Price”), pursuant to this

warrant (this “Warrant”).  The number of

shares of Warrant Stock to be so issued and the Warrant Price are subject to

adjustment in certain events as hereinafter set forth.  The term “Common Stock” shall mean, when

used herein, unless the context otherwise requires, the stock and other

securities and property at the time receivable upon the exercise of this

Warrant.

 

This Warrant is being issued to Holder for services

rendered by Kingdsdale to the Company. 

This Warrant shall be interpreted in a manner consistent with the

warrants issued to the purchasers of Company securities pursuant to that

certain Confidential Private Placement Memorandum, dated October 15, 2002, as

supplemented (the “Memorandum”). 

Capitalized terms used and not otherwise defined herein shall have the

respective meanings attributed thereto in Section 10.

 

1.             Exercise

of Warrant.

 

(a) The Holder may exercise this Warrant according to

its terms by surrendering this Warrant to the Company at the address set forth

in Section 11, the subscription form attached hereto having then been duly

executed by the Holder, accompanied by cash, certified check or bank draft in

payment of the purchase price, in lawful money of the United States of America,

for the number of shares of the Warrant Stock specified in the subscription

form, or as otherwise provided in this Warrant prior to 5:30 p.m., Eastern

Standard Time, on March 6, 2006 (the “Expiration Date”).

 

 

(b) This Warrant may be exercised in whole or in part

so long as any exercise in part hereof would not involve the issuance of

fractional shares of Warrant Stock.  If

exercised in part, the Company shall deliver to the Holder a new Warrant,

identical in form, in the name of the Holder, evidencing the right to purchase

the number of shares of Warrant Stock as to which this Warrant has not been

exercised, which new Warrant shall be signed by the Chairman and Chief

Executive Officer or the President and the Secretary or the Assistant Secretary

of the Company.  The term Warrant as

used herein shall include any subsequent Warrant issued as provided herein.

 

(c) No fractional shares or scrip representing

fractional shares shall be issued upon the exercise of this Warrant.  The Company shall pay cash in lieu of

fractions with respect to the Warrants based upon the fair market value of such

fractional shares of Common Stock (which shall be the closing price of such

shares on the exchange or market on which the Common Stock is then traded) at

the time of exercise of this Warrant.

 

(d) In the event of any exercise of the rights

represented by this Warrant, a certificate or certificates for the Warrant

Stock so purchased, registered in the name of the Holder, shall be delivered to

the Holder within a reasonable time after such rights shall have been so

exercised.  The person or entity in

whose name any certificate for the Warrant Stock is issued upon exercise of the

rights represented by this Warrant shall for all purposes be deemed to have

become the holder of record of such shares immediately prior to the close of

business on the date on which the Warrant was surrendered and payment of the

Warrant Price and any applicable taxes was made, irrespective of the date of

delivery of such certificate, except that, if the date of such surrender and

payment is a date when the stock transfer books of the Company are closed, such

person shall be deemed to have become the holder of such shares at the opening

of business on the next succeeding date on which the stock transfer books are

open.  Except as provided in Section 4

hereof, the Company shall pay any and all documentary stamp or similar issue or

transfer taxes payable in respect of the issue or delivery of shares of Common

Stock on exercise of this Warrant.

 

2.             Disposition

of Warrant Stock and Warrant.

 

(a)

The Holder hereby acknowledges that this Warrant and any Warrant Stock

purchased pursuant hereto are not being registered (i) under the Act on the

ground that the issuance of this Warrant is exempt from registration under

Section 4(2) of the Act as not involving any public offering or (ii) under any

applicable state securities law because the issuance of this Warrant does not

involve any public offering; and that the Company’s reliance on the Section

4(2) exemption of the Act and under applicable state securities laws is

predicated in part on the representations hereby made to the Company by the

Holder that it is acquiring this Warrant and will acquire the Warrant Stock for

investment for its own account, with no present intention of dividing its

participation with others or reselling or otherwise distributing the same, subject,

nevertheless, to any requirement of law that the disposition of its property

shall at all times be within its control.

 

2

 

The

Holder hereby agrees that it will not sell or transfer all or any part of this

Warrant and/or Warrant Stock unless and until it shall first have given notice

to the Company describing such sale or transfer and furnished to the Company

either (i) an opinion, reasonably satisfactory to counsel for the Company, of

counsel (skilled in securities matters, selected by the Holder and reasonably

satisfactory to the Company) to the effect that the proposed sale or transfer

may be made without registration under the Act and without registration or

qualification under any state law, or (ii) an interpretative letter from the

Securities and Exchange Commission to the effect that no enforcement action

will be recommended if the proposed sale or transfer is made without

registration under the Act.

 

(b) If, at the time of issuance of the shares issuable

upon exercise of this Warrant, no registration statement is in effect with

respect to such shares under applicable provisions of the Act, the Company may

at its election require that the Holder provide the Company with written

reconfirmation of the Holder’s investment intent and that any stock certificate

delivered to the Holder of a surrendered Warrant shall bear legends reading

substantially as follows:

 

“TRANSFER OF THE

SHARES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO CERTAIN RESTRICTIONS SET

FORTH IN THE WARRANT PURSUANT TO WHICH THESE SHARES WERE PURCHASED FROM THE

COMPANY.  COPIES OF THOSE RESTRICTIONS

ARE ON FILE AT THE PRINCIPAL OFFICES OF THE COMPANY, AND NO TRANSFER OF SUCH

SHARES OR OF THIS CERTIFICATE, OR OF ANY SHARES OR OTHER SECURITIES (OR

CERTIFICATES THEREFOR) ISSUED IN EXCHANGE FOR OR IN RESPECT OF SUCH SHARES,

SHALL BE EFFECTIVE UNLESS AND UNTIL THE TERMS AND CONDITIONS THEREIN SET FORTH

SHALL HAVE BEEN COMPLIED WITH.”

 

“THE SHARES

REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES

ACT OF 1933, AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF

IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT

OF 1933 OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THIS CERTIFICATE

THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT.”

 

In addition, so long as

the foregoing legend may remain on any stock certificate delivered to the

Holder, the Company may maintain appropriate “stop transfer” orders with

respect

 

3

 

to such certificates and

the shares represented thereby on its books and records and with those to whom

it may delegate registrar and transfer functions.

 

3.             Reservation of Shares.  The Company hereby agrees that at all times

there shall be reserved for issuance upon the exercise of this Warrant such

number of shares of its Common Stock as shall be required for issuance upon

exercise of this Warrant.  The Company

further agrees that all shares which may be issued upon the exercise of the

rights represented by this Warrant will be duly authorized and will, upon

issuance and against payment of the exercise price, be validly issued, fully

paid and non–assessable, free from all taxes, liens, charges and

preemptive rights with respect to the issuance thereof, other than taxes, if

any, in respect of any transfer occurring contemporaneously with such issuance

and other than transfer restrictions imposed by federal and state securities

laws.

 

4.             Exchange, Transfer, Assignment

or Loss of Warrant.  This Warrant is

exchangeable, without expense, at the option of the Holder, upon presentation

and surrender hereof to the Company or at the office of its stock transfer

agent, if any, for other Warrants of different denominations, entitling the

Holder or Holders thereof to purchase in the aggregate the same number of

shares of Common Stock purchasable hereunder. 

Upon surrender of this Warrant to the Company or at the office of its

stock transfer agent, if any, with the Assignment Form annexed hereto duly

executed and funds sufficient to pay any transfer tax, the Company shall,

without charge, execute and deliver a new Warrant in the name of the assignee

named in such instrument of assignment and this Warrant shall promptly be canceled.  This Warrant may be divided or combined with

other Warrants that carry the same rights upon presentation hereof at the

office of the Company or at the office of its stock transfer agent, if any,

together with a written notice specifying the names and denominations in which

new Warrants are to be issued and signed by the Holder hereof.

 

5.             Capital Adjustments.  This Warrant is subject to the following

further provisions:

 

(a)           Recapitalization, Reclassification

and Succession.  If any

recapitalization of the Company or reclassification of its Common Stock or

any merger or consolidation of the Company into or with a corporation or other

business entity, or the sale or transfer of all or substantially all of the

Company’s assets or of any successor corporation’s assets to any other

corporation or business entity (any such corporation or other business entity

being included within the meaning of the term “successor corporation”) shall be

effected, at any time while this Warrant remains outstanding and unexpired,

then, as a condition of such recapitalization, reclassification, merger,

consolidation, sale or transfer, lawful and adequate provision shall be made

whereby the Holder of this Warrant thereafter shall have the right to receive

upon the exercise hereof as provided in Section 1 and in lieu of the shares of

Common Stock immediately theretofore issuable upon the exercise of this

Warrant, such shares of capital stock, securities or other property as may be

issued or payable with respect to or in exchange for a number of outstanding

shares of Common Stock equal to the number of shares of Common Stock

immediately theretofore issuable upon the exercise of this Warrant immediately

prior to such recapitalization,

 

4

 

reclassification, merger,

consolidation, sale or transfer, and in each such case, the terms of this

Warrant shall be applicable to the shares of stock or other securities or

property receivable upon the exercise of this Warrant after such consummation.

 

(b)           Subdivision or Combination of

Shares.  If the Company at any time

while this Warrant remains outstanding and unexpired shall subdivide or combine

its Common Stock, the number of shares of Warrant Stock purchasable upon

exercise of this Warrant and the Warrant Price shall be proportionately

adjusted.

 

(c)           Stock Dividends and Distributions.  If the Company at any time while this

Warrant is outstanding and unexpired shall issue or pay the holders of its

Common Stock, then (i) the Warrant Price shall be adjusted in accordance with

Section 5(e) and (ii) the number of shares of Warrant Stock purchasable upon

exercise of this Warrant shall be adjusted to the number of shares of Common

Stock that Holder would have owned immediately following such action had this

Warrant been exercised immediately prior thereto.

 

If the Company shall at any time after the date of

issuance of this Warrant distribute to all holders of its Common Stock any

shares of capital stock of the Company (other than Common Stock) or evidences

of its indebtedness or assets (excluding cash dividends or distributions paid

from retained earnings or current year’s or prior year’s earnings of the

Company) or rights or warrants to subscribe for or purchase any of its

securities (excluding those referred to in the immediately preceding paragraph)

(any of the foregoing being hereinafter in this paragraph called the

“Securities”), then in each such case, the Company shall reserve shares or

other units of such securities for distribution to the Holder upon exercise of

this Warrant so that, in addition to the shares of the Common Stock to which

such Holder is entitled, such Holder will receive upon such exercise the amount

and kind of such Securities which such Holder would have received if the Holder

had, immediately prior to the record date for the distribution of the

Securities, exercised this Warrant.

 

(d)           Warrant

Price Adjustment.  Whenever the

number of shares of Warrant Stock purchasable upon exercise of this Warrant is

adjusted, as herein provided, the Warrant Price payable upon the exercise of

this Warrant shall be adjusted to that price determined by multiplying the

Warrant Price immediately prior to such adjustment by a fraction (i) the

numerator of which shall be the number of shares of Warrant Stock purchasable

upon exercise of this Warrant immediately prior to such adjustment, and (ii)

the denominator of which shall be the number of shares of Warrant Stock

purchasable upon exercise of this Warrant immediately thereafter.

 

(e)           Certain Shares Excluded.  The number of shares of Common Stock

outstanding at any given time for purposes of the adjustments set forth in this

Section 5 shall exclude any shares then directly or indirectly held in the

treasury of the Company.

 

(f)            Deferral and Cumulation of De

Minimis Adjustments.  The Company

shall not be required to make any adjustment pursuant to this Section 5 if the

amount of such adjustment would be less than one percent (1%) of the Warrant

Price in effect 

 

5

 

immediately before the

event that would otherwise have given rise to such adjustment.  In such case, however, any adjustment that

would otherwise have been required to be made shall be made at the time of and

together with the next subsequent adjustment which, together with any

adjustment or adjustments so carried forward, shall amount to not less than one

percent (1%) of the Warrant Price in effect immediately before the event giving

rise to such next subsequent adjustment.

 

(g)           Duration

of Adjustment.  Following each

computation or readjustment as provided in this Section 5, the new adjusted

Warrant Price and number of shares of Warrant Stock purchasable upon exercise

of this Warrant shall remain in effect until a further computation or

readjustment thereof is required.

 

6.             Notice to Holders.

 

(a)           Notice of Record Date.  In case:

 

(i) the Company shall take a record of the holders of

its Common Stock (or other stock or securities at the time receivable upon the

exercise of this Warrant) for the purpose of entitling them to receive any

dividend (other than a cash dividend payable out of earned surplus of the

Company) or other distribution, or any right to subscribe for or purchase any

shares of stock of any class or any other securities, or to receive any other

right;

 

(ii) of any capital reorganization of the Company, any

reclassification of the capital stock of the Company, any consolidation with or

merger of the Company into another corporation, or any conveyance of all or

substantially all of the assets of the Company to another corporation; or

 

(iii) of any voluntary dissolution, liquidation or

winding-up of the Company;

 

then, and in each such

case, the Company will mail or cause to be mailed to the Holder hereof at the

time outstanding a notice specifying, as the case may be, (i) the date on which

a record is to be taken for the purpose of such dividend, distribution or

right, and stating the amount and character of such dividend, distribution or

right, or (ii) the date on which such reorganization, reclassification,

consolidation, merger, conveyance, dissolution, liquidation or winding-up is to

take place, and the time, if any, is to be fixed, as of which the holders of

record of Common Stock (or such stock or securities at the time receivable

upon the exercise of this Warrant) shall be entitled to exchange their shares

of Common Stock (or such other stock or securities) for securities or other

property deliverable upon such reorganization, reclassification, consolidation,

merger, conveyance, dissolution or winding-up. 

Such notice shall be mailed at least fifteen (15) days prior to the

record date therein specified, or if no record date shall have been specified

therein, at least thirty (30) days prior to such specified date.

 

(b)           Certificate of Adjustment.

Whenever any adjustment shall be made pursuant to Section 5 hereof, the Company

shall promptly make a certificate signed by its

 

6

 

Chairman and Chief

Executive Officer, its President or a Vice President and by its Treasurer or

Assistant Treasurer or its Secretary or Assistant Secretary, setting forth in

reasonable detail the event requiring the adjustment, the amount of the

adjustment, the method by which such adjustment was calculated and the Warrant

Price and number of shares of Warrant Stock purchasable upon exercise of

this Warrant after giving effect to such adjustment, and shall promptly cause

copies of such certificates to be mailed (by first class mail, postage prepaid)

to the Holder of this Warrant.

 

7.             Loss, Theft, Destruction or

Mutilation.  Upon receipt by the

Company of evidence satisfactory to it, in the exercise of its reasonable

discretion, of the ownership and the loss, theft, destruction or mutilation of

this Warrant and, in the case of loss, theft or destruction, of indemnity

reasonably satisfactory to the Company and, in the case of mutilation, upon

surrender and cancellation thereof, the Company will execute and deliver in

lieu thereof, without expense to the Holder, a new Warrant of like tenor dated

the date hereof.

 

8.             Warrant Holder Not a Stockholder.  The Holder of this Warrant, as such, shall

not be entitled by reason of this Warrant to any rights whatsoever as a

stockholder of the Company.

 

9.             Registration Rights.  This Warrant and the shares of Common Stock

issuable upon exercise of this Warrant will be accorded the same registration

rights under the Act as set forth in the Subscription Agreement between the

Company and the purchasers of Company securities pursuant to the Memorandum.

 

10.           Definitions.  As used herein, unless the context otherwise

requires, the following terms have the respective meanings:

 

(a)           “Affiliate”:  with respect to any Person, the

following:  (i) any other Person that at

such time directly or indirectly through one or more intermediaries controls,

or is controlled by or is under common control with such first Person or (ii)

any Person beneficially owning or holding, directly or indirectly, 10% or more

of any class of voting or equity interests of the Company or any Subsidiary or

any corporation of which the Company and its Subsidiaries beneficially own or

hold, in the aggregate, directly or indirectly, 10% of more of any class of

voting or equity interests.  As used in

such definition, “controls,” “controlled by” and “under common control,” as

used with respect to an Person, shall mean the possession, directly or

indirectly, of the power to direct or cause the direction of the management

policies of such Person, whether through the ownership of voting securities, by

agreement or otherwise.

 

(b)           “Person”:  any natural person, corporation, division of

a corporation, partnership, limited liability company, trust, joint venture,

association, company, estate, unincorporated organization or government or any

agency or political subdivision thereof.

 

(c)           “Subsidiaries”:  with respect to any Person, any corporation,

association or other business entity (whether now existing or hereafter

organized) of

 

7

 

which at least a majority

of the securities or other ownership interests having ordinary voting power for

the election of directors is, at the time as of which any determination is

being made, owned or controlled by such Person or one or more subsidiaries of

such Person.

 

11.           Notices.  Any notice required or contemplated by this

Warrant shall be deemed to have been duly given if transmitted by registered or

certified mail, return receipt requested, to the Company at 10300 North Central

Expressway, Suite 104, Dallas, Texas 75231, Attention: President, or to the

Holder at the name and address set forth in the Warrant Register maintained by

the Company.

 

12.           Choice of Law.  THIS WARRANT IS ISSUED UNDER AND SHALL FOR

ALL PURPOSES BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE

STATE OF DELAWARE, WITHOUT GIVING EFFECT TO ITS CONFLICTS OF LAW RULES.

 

IN

WITNESS WHEREOF, the Company has duly caused this Warrant to be signed on its

behalf, in its corporate name and by its duly authorized officers, as of this

6th day of March, 2003.

 

	

   

  	

  REFOCUS GROUP,

  INC.

  
	

   

  	

   

  
	

   

  	

  By:

  	

   

  	

   

  
	

   

  	

  Mark A. Cox

  
	

   

  	

  Vice President

  

 

8

 

SUBSCRIPTION

FORM

 

The

undersigned, the Holder of the attached Warrant, hereby irrevocably elects to

exercise purchase rights represented by such Warrant for, and to purchase

thereunder, the following number of shares of Common Stock of REFOCUS GROUP,

INC.:

 

	

  Number of Shares

  	

   

  	

  Purchase Price Per Share

  

 

 

The

undersigned herewith makes payment of

$                 

therefor, and requests that certificates for such shares (and any warrants or

other property issuable upon such exercise) be issued in the name of and

delivered to

                                              

whose address is                                                                

(social security or taxpayer identification number

               )

and, if such shares shall not include all of the shares issuable under such

warrant, that a new warrant of like tenor and date for the balance of the

shares issuable thereunder be delivered to the undersigned.

 

	

   

  	

   

  	

  HOLDER:

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Signature

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Signature, if

  jointly held

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Date

  

 

9

 

ASSIGNMENT

FORM

FOR VALUE RECEIVED,

 

	

   

  
	

  hereby sells, assigns

  and transfers unto

  
	

   

  
	

  Name

  
	

   

  
	

  (Please typewrite or print in block letters)

  

 

 

 

Social Security or

Taxpayer Identification Number

 

the right to purchase

Common Stock of REFOCUS GROUP, INC., a Delaware corporation, represented by

this Warrant to the extent of shares as to which such right is exercisable and

does hereby irrevocably constitute and appoint

                          ,

Attorney, to transfer the same on the books of the Company with full power of

substitution in the premises.

 

	

  DATED: 

  	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Signature

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

  Signature, if

  jointly held

  
	

   

  	

   

  	

   

  
	

  Witness:

  	

   

  	

   

  
	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  	

   

  
	

   

  	

   

  	

   

  
							

 

10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00050-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00050-of-00352.parquet"}]]