Document:

Restructing Agreement dated as of February 4, 2005

 Exhibit 10.40 
  
 BOSTON LIFE SCIENCES, INC. 
 Restructuring Agreement 
  
 This Restructuring Agreement (this “Agreement”) is dated as of February 4, 2005, by and among Boston Life Sciences, Inc., a Delaware corporation (the “Company”) and the holders of outstanding Series E Cumulative
Convertible Preferred Stock, $0.01 par value per share (the “Series E Preferred Stock”) of the Company set forth on the signature pages hereto (each a “Series E Holder” and collectively the “Series E Holders”).

  
 W I T N E S S E T H: 
  
 WHEREAS, as of the date hereof there are outstanding: (i) 561.3 shares
of Series E Preferred Stock, and (ii) warrants to purchase 2,880,000 shares of common stock, $0.01 par value per share (the “Common Stock”) of the Company initially issued in December 2003 (collectively, the “Common Stock
Warrants”), 2,020,680 of such Common Stock Warrants being held by the holders of Series E Preferred Stock (the “Series E Warrants”) (the shares of Common Stock underlying the outstanding shares of Series E Preferred Stock and the
shares of Common Stock issuable upon exercise of the Series E Warrants referred to collectively herein as the “Shares”); and 
  
 WHEREAS, the Series E Holders agree to convert their shares of Series E Preferred Stock into Common Stock pursuant to the terms and conditions more
fully set forth in this Agreement and in consideration therefor the Company has agreed to, among other things, reduce the exercise price of the Series E Warrants to $0.01 per share.  
  
 NOW, THEREFORE, in consideration of the conditions and mutual
covenants set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, the Company and the Series E Holders agree as follows: 
  
 1. Election to Convert. Subject to the terms and conditions
hereof and the approval of (i) any one or more of Proposal No. 1, Proposal No. 2 or Proposal No. 3, and (ii) Proposals No. 4 and No. 5 at the Special Meeting of Shareholders to be held on or about February 1, 2005 (the “Special Meeting”),
the undersigned holder of the Series E Preferred Stock, hereby agrees, and hereby elects, to convert its outstanding shares of Series E Preferred Stock into shares of the Company’s Company Stock at the current conversion price of $1.2464.

  
 2. Dividend. Within three (3) business day
following the conversion of the shares of Series E Preferred Stock discussed in Section 1 above, the Company shall pay to each of the Series E Holders a cash payment of $564.44 for each share of Series E Preferred Stock converted, which represents
the dividend payment that would be due to the holders of Series E Preferred Stock for the twelve-month period following the dividend payment made to the holders of Series E Preferred Stock on October 31, 2004. 
  
 3. Adjustment to Series E Warrants. Subject to the terms and
conditions hereof, and upon receipt of requisite stockholder approval in accordance with applicable Nasdaq regulations at the Special Meeting, the Company agrees to reduce the exercise price of the Series E Warrants from $1.5421 per Share to $0.01
per Share. 
  
 4. Right of Participation. In
connection with each private placement of equity securities (“New Securities”) effected by the Company after the date of this agreement pursuant to an exemption from registration under the Securities Act of 1933, as amended, up to an
aggregate amount of $16.9 million (each a “Private Placement” and collectively the “Private Placements”), the Company shall give each of the Series E Holders written notice (the “Rights Notice”) of each applicable
Private Placement describing the New Securities, the price, the general terms upon which the Company proposes to issue such New Securities, and the number of New Securities that such Series E Holder has the right to purchase in each Private
Placement under this Section 4. Each such Series E Holder shall have five (5) calendar days from delivery of the Rights Notice to agree to purchase all or any part of its pro rata share (as defined below) of such New Securities to be issued in the
applicable Private Placement by giving written notice to the Company setting forth the quantity of New Securities to be purchased. A failure to provide the Company with written notice setting forth the quantity of New Securities to be purchased by
any such Series E Holder in accordance with this Section 4 shall be deemed to be a waiver by such Series E Holder of its right to purchase any portion of its pro rata portion of such New Securities in the applicable Private Placement. For purposes
of this Section 4, each Series E Holder’s “pro rata share” of New Securities to be issued in each Private Placement shall be (i) a fraction, the numerator of which shall be the number of shares of Series E Preferred Stock held by such
Series E Holder as of the date hereof, and the denominator of which shall be 561.3, times (ii) one third of the aggregate dollar amount of the New Securities to be issued in the applicable Private Placement. For purposes of clarification, once the
Series E Holders have collectively been offered the right to purchase 33 1/3% of New Securities issued by the Company after the date hereof aggregating up to $16.9 million, the right of participation set forth in this Section 4 shall be of no
further force or effect. 

 5. Automatic Conversion. Subject to approval of an amendment to the Certificate of
Designations, Rights and Preferences of the Series E Preferred Stock at the Special Meeting permitting the mandatory conversion of the then outstanding Series E Preferred Stock by less than unanimous consent, each of the Series E Holders hereby
elects such mandatory conversion without any further act or documentation required by such Series E Holder. 
  
 6. Lock-up Agreements. Subject to the terms and conditions hereof, each Series E Holder agrees (i) for a period of six (6) months (the
“Initial Lock-Up Period”) from the date the exercise price of the Series E Warrants are adjusted from $1.5421 per Share to $0.01 per Share (as discussed in Section 3 above), not to offer, sell, contract to sell or otherwise dispose of the
Shares issuable to such holder upon exercise of such holder’s Series E Warrants, and (ii) for a period of six (6) months following the Initial Lock-Up Period, each holder may sell up to 16.67% of the Shares issuable to such holder upon exercise
of such holder’s Series E Warrants in any thirty-day period. Each Series E Holder agrees to execute a lock-up agreement as further evidence of the foregoing. 
  
 7. Representations and Warranties of the Series E Holders. Each Series E Holder hereby represents and warrants
to the Company as follows: 
  
 7.1 Enforceability.
Subject to the consent of no less than holders of seventy-five (75%) percent of the currently outstanding shares of Series E Preferred Stock acting independently and not as a group, this Agreement and any and all agreements to be executed by the
Series E Holder pursuant to this Agreement and the transactions contemplated hereby, when executed and delivered by the Series E Holder, will constitute the valid, binding and enforceable obligation of the Series E Holder. 
  
 7.2 Authorization; No Contravention. The execution, delivery
and performance of the obligations of each Series E Holder hereunder (a) have been duly authorized by all necessary action of the Series E Holder, (b) do not violate, conflict with or result in any breach or contravention of, or the creation of any
lien under, any material contractual obligation of the Series E Holder or any requirement of law applicable to the Series E Holder, and (c) do not violate any orders of any governmental authority against, or binding upon, the Series E Holder.

  
 7.3 Governmental Authorization; Third Party
Consents. No approval, consent, compliance, exemption, authorization or other action by, or notice to, or filing with, any governmental authority or any other person, and no lapse of a waiting period under any requirement of law, is
necessary or required in connection with the execution by, delivery or performance by, or enforcement against, the Series E Holder of this Agreement and each of the other documents to which it is a party or the transactions contemplated hereby and
thereby. 
  
 7.4 Ownership. Each Series E Holder is
the lawful record owner of the shares of Series E Preferred Stock and/or Series E Warrants held by such Series E Holder subject to this Agreement, and of all rights thereto, free and clear of all liens, claims, charges, encumbrances, restrictions,
rights, options to purchase, proxies, voting trust and other voting agreements, calls or commitments of every kind, except as contemplated hereby. 
  
 7.5 Acknowledgements. 
  
 (a) The Series E Holder is fully aware of the Company’s business, operations and financial condition and has received or have had full access to all
of the information, including the Company’s financial statements, it considers necessary or appropriate to make an informed decision with respect to the conversion of its shares of Series E Preferred Stock and the execution of the lock-up
agreement discussed in Section 6 above. 
  
 (b) The Series E
Holder has had the opportunity to ask questions of and receive answers from the Company and its executive officers and financial and legal advisors concerning the Company and it has been furnished with all documents and other information about the
Company which it has requested. The Series E Holder believes that it has been fully apprised of all facts and circumstances necessary to permit it to make an informed decision relating to its conversion of shares of Series E Preferred Stock, that it
has sufficient knowledge and experience in business and financial matters, is capable of evaluating the merits and risks of the transactions contemplated hereby and has the capacity to protect its own interest in connection with the transactions
contemplated hereby. 
  
 (c) The Series E Holder acknowledges and
agrees that the Company may in the future consummate, among other things, (i) a public offering or private placement of its capital stock, (ii) a merger, consolidation or acquisition of the Company into, with or by another entity, (iii) a sale of
the Company’s assets or (iv) a strategic alliance, collaboration or other business arrangement. The Series E Holder acknowledges that, as a result of the conversion of the Series E Preferred Stock into shares of the Company’s Common Stock
as contemplated by this Agreement, upon consummation of any one or more of the transactions discussed above, such Series E Holder will not be entitled to the rights and preferences of the Series E Preferred Stock. 
  

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 8. Miscellaneous. 
  
 8.1 Governing Law; Jurisdiction. This Agreement shall be governed by and construed according to the laws of
the State of Delaware, without regard to the conflict of laws provisions thereof. Any dispute arising under or in relation to this Agreement shall be resolved in a competent court in the State of Delaware, and each of the parties hereby submits
irrevocably to the exclusive jurisdiction of such court. 
  
 8.2
Successors and Assigns; Assignment. Except as otherwise expressly limited herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors, and administrators of the parties
hereto. None of the rights, privileges, or obligations set forth in, arising under, or created by this Agreement may be assigned by a Series E Holder without the prior consent in writing of the Company. 
  
 8.3 Entire Agreement. This Agreement and all exhibits hereto,
contain the entire understanding of the parties hereto, shall be binding on the parties hereto, their parents, subsidiaries, affiliates, heirs, executors, administrators and assigns. It is the only agreement between the parties with respect to the
subject matter hereof and shall not be modified or varied by oral understandings. Any term of this Agreement may be amended and the observance of any term hereof may be waived only with the written consent of the Company. 
  
 8.4 Notices, etc. All notices and other communications required
or permitted hereunder to be given to a party to this Agreement shall be in writing and shall be telecopied or mailed by registered or certified mail, postage prepaid, or otherwise delivered by hand or by messenger, addressed to such party’s
address as set forth below or at such other address as the party shall have furnished to each other party in writing in accordance with this provision: 
  

			
	if to a Series E Holder:	  	To the address or number set forth on the signature page hereto
		
	if to the Company:	  	Boston Life Sciences, Inc.
	 	  	20 Newbury Street, 5th Floor
	 	  	Boston, MA 02116
	 	  	Facsimile: (617) 425-0996
	 	  	Attn: Chief Financial Officer
		
	 	  	with a copy to:
		
	 	  	Philip Rossetti, Esq.
	 	  	Wilmer Cutler Pickering Hale and Dorr LLP
	 	  	60 State Street
	 	  	Boston, MA 02109
	 	  	Facsimile: (617) 526-5000

  
 or such other address with respect to
a party as such party shall notify each other party in writing as above provided. Any notice sent in accordance with this Section 8.4 shall be effective (a) if mailed, five (5) business days after mailing, (b) if sent by messenger, one (1) business
day after delivery, and (c) if sent via telecopier, one (1) business day after transmission and electronic confirmation of receipt or (if transmitted and received on a non-business day) on the second business day following transmission and
electronic confirmation of receipt (provided, however, that any notice of change of address shall only be valid upon receipt). 
  
 8.5 Delays or Omissions. No delay or omission to exercise any right, power, or remedy accruing to any party upon any breach or default under
this Agreement, shall be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent, or approval of any kind or character on the part of any party of any breach or default under this Agreement, or
any waiver on the part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement or by law or
otherwise afforded to any of the parties, shall be cumulative and not alternative. 
  
 8.6 Severability. If any provision of this Agreement is held by a court of competent jurisdiction to be unenforceable under applicable law, then such provision shall be excluded from this Agreement and
the remainder of this Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms; provided, however, that in such event this Agreement shall be interpreted so as to give
effect, to the greatest extent consistent with and permitted by applicable law, to the meaning and intention of the excluded provision as determined by such court of competent jurisdiction. 
  

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 8.7 Counterparts. This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original and enforceable against the parties actually executing such counterpart, and all of which together shall constitute one and the same instrument. 
  
 ***** 
  

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 IN WITNESS WHEREOF, the parties have executed this Agreement to Convert as of the date first
herein above set forth. 
  

			
	BOSTON LIFE SCIENCES, INC.
		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	
	HOLDER OF SERIES E PREFERRED STOCK:
		
	 By:
	 	  

	 Name:
	 	 
	 Title:
	 	 
	 Address:
	 	 
		
	 Facsimile:
	 	 

  

 -5-Common Stock Purchase Agreement dates as of March 9, 2005

 Exhibit 10.41 
  
 COMMON STOCK PURCHASE AGREEMENT 
  
 This Common Stock Purchase Agreement (this “Agreement”) is dated as of March 9, 2005, by and among Boston
Life Sciences, Inc., a Delaware corporation (the “Company”), and the purchasers identified on the signature pages hereto (each a “Purchaser” and collectively the “Purchasers”); and 
  
 WHEREAS, subject to the terms and conditions set forth in this Agreement and
pursuant to Section 4(2) of the Securities Act (as defined in Article I below), and Rule 506 promulgated thereunder, the Company desires to issue and sell to the Purchasers, and the Purchasers, severally and not jointly, desire to purchase from the
Company in the aggregate, up to $5,000,000 of the Company’s Common Stock (as defined in Article I below), as more fully described in this Agreement. 
  
 NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the Company and each Purchaser agrees as follows: 
  
 ARTICLE I. 
 DEFINITIONS 
  
 1.1 Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement,
the following terms have the meanings indicated in this Section 1.1: 
  
 “Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or is controlled by or is under common control with a Person as such terms are used in and
construed under Rule 144. With respect to a Purchaser, any investment fund or managed account that is managed on a discretionary basis by the same investment manager as such Purchaser will be deemed to be an Affiliate of such Purchaser. 

 
 “Amended and Restated Registration Rights
Agreement” means the Amended and Restated Registration Rights Agreement, dated as of the date of this Agreement, by and among the Company and the Holders (as defined therein), in the form of Exhibit A hereto. 
  
 “Business Day” means any day except
Saturday, Sunday and any day which shall be a federal legal holiday or a day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close. 
  
 “Closing” means the closing of the purchase
and sale of the Shares pursuant to Section 2.1. 
  
 “Closing Date” means the date of the Closing. 
  
 “Commission” means the Securities and Exchange Commission. 

 “Common Stock” means the common stock of the Company, $0.01 par value
per share, and any securities into which such common stock may hereafter be reclassified. 
  
 “Common Stock Equivalents” means any securities of the Company or the Subsidiaries which would entitle the holder thereof
to acquire at any time Common Stock, including without limitation, any debt, preferred stock, rights, options, warrants or other instrument that is at any time convertible into or exchangeable for, or otherwise entitles the holder thereof to
receive, Common Stock. 
  
 “Company
Counsel” means Wilmer Cutler Pickering Hale and Dorr LLP. 
  
 “Disclosure Materials” shall have the meaning ascribed to such term in Section 3.1(g). 
  
 “Disclosure Schedules” means the Disclosure Schedules concurrently delivered herewith. 
  
 “Effective Date” means the date that the
Registration Statement is first declared effective by the Commission. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  
 “GAAP” shall have the meaning ascribed to such term in Section 3.1(g). 
  
 “Liens” means a lien, charge, security
interest, encumbrance, right of first refusal or other restriction. 
  
 “Material Adverse Effect” shall have the meaning ascribed to such term in Section 3.1(a). 
  
 “Per Share Purchase Price” equals $2.50. 
  
 “Person” means an individual or corporation, partnership, trust, incorporated or
unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. 
  
 “Purchaser Party” shall have the meaning ascribed to such term in Section 4.8. 

 
 “Registration Statement” means a
registration statement meeting the requirements set forth in the Amended and Restated Registration Rights Agreement and covering the resale by the Purchasers of the Shares and the Warrant Shares. 
  
 “Rule 144,” means Rule 144 promulgated by
the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
  
 “SEC Reports” shall have the meaning
ascribed to such term in Section 3.1(g). 
  
 “Securities Act” means the Securities Act of 1933, as amended. 
  

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 “Shares” means the shares of Common Stock issued or issuable to each
Purchaser pursuant to this Agreement. 
  
 “Subscription Amount” means, as to each Purchaser, the amounts set forth below such Purchaser’s signature block on the signature page hereto, in United States dollars and in immediately available funds. 
  
 “Subsidiary” means any corporation,
partnership, trust, limited liability company or other non-corporate business enterprise in which the Company (or another Subsidiary) holds stock or other ownership interests representing (a) more than 50% of the voting power of all outstanding
stock or ownership interests of such entity or (b) the right to receive more than 50% of the net assets of such entity available for distribution to the holders of outstanding stock or ownership interests upon a liquidation or dissolution of such
entity. 
  
 “Trading Day” means
(i) a day on which the Common Stock is traded on a Trading Market, or (ii) if the Common Stock is not listed on a Trading Market, a day on which the Common Stock is traded on the over-the-counter market, as reported by the OTC Bulletin Board, or
(iii) if the Common Stock is not quoted on the OTC Bulletin Board, a day on which the Common Stock is quoted in the over-the-counter market as reported by the National Quotation Bureau Incorporated (or any similar organization or agency succeeding
its functions of reporting prices); provided, that in the event that the Common Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day shall mean a Business Day. 
  
 “Trading Market” means the following
markets or exchanges on which the Common Stock is listed or quoted for trading on the date in question: the American Stock Exchange, the New York Stock Exchange, the Nasdaq National Market or the Nasdaq SmallCap Market. 
  
 “Transaction Documents” means this
Agreement and the Amended and Restated Registration Rights Agreement. 
  
 “Warrants” means (i) that certain Warrant to purchase 100,000 shares of the Company’s Common Stock, as amended, issued by the Company to Ingalls & Snyder Value Partners, L.P. pursuant to that
certain Securities Purchase Agreement, dated as of July 25, 2002, by and among the Company and the Purchasers listed therein, and (ii) those certain Warrants to purchase 200,000 shares and 164,025 shares of the Company’s Common Stock, each as
amended, issued by the Company to Robert L. Gipson and Nikolaos D. Monoyios, respectively, pursuant to that certain Consent to Transfer and Warrant Amendment, dated as of November 22, 2002, by and among the Company, Ingalls & Snyder, L.L.C.,
Robert L. Gipson, Nikolaos D. Monoyios and Ingalls & Snyder Value Partners, L.P. 
  
 “Warrant Shares” means the shares of Common Stock issuable upon exercise of the Warrants and reflect the 1-for-5 reverse
stock split effected by the Company on February 4, 2005. 
  

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 ARTICLE II. 
 PURCHASE AND SALE 
  
 2.1
Closing. At the Closing, the Purchasers shall purchase, severally and not jointly, and the Company shall issue and sell, in the aggregate, up to $5,000,000 of Common Stock. Each Purchaser shall purchase from the Company, and the Company shall
issue and sell to each Purchaser a number of Shares equal to such Purchaser’s Subscription Amount divided by the Per Share Purchase Price. 
  
 2.2 Closing Deliverables. 
  
 (a) At the Closing (unless otherwise specified below), the Company shall deliver or cause to be delivered to each Purchaser the following:

  
 (i) this Agreement duly executed by the
Company; 
  
 (ii) within five Trading Days of the
Closing, a certificate evidencing that number of Shares equal to such Purchaser’s Subscription Amount divided by the Per Share Purchase Price, registered in the name of such Purchaser; 
  
 (iii) a legal opinion of Company Counsel, substantially in
the form attached hereto as Exhibit B, addressed to the Purchasers; 
  
 (iv) the Amended and Restated Registration Rights Agreement duly executed by the Company; and 
  
 (v) a Certificate of the Secretary of the Company attesting as to (i) the By-laws of the Company; (ii) the signatures and titles of the
officers of the Company executing this Agreement or any of the other agreements to be executed and delivered by the Company at the Closing; and (iii) resolutions of the Board of Directors of the Company, authorizing and approving all matters in
connection with this Agreement and the transactions contemplated hereby. 
  
 (b) At the Closing each Purchaser shall deliver or cause to be delivered to the Company the following: 
  
 (i) this Agreement duly executed by each such Purchaser; 
  
 (ii) such Purchaser’s Subscription Amount by wire transfer to the account of the Company per the
written instructions of the Company; and 
  
 (iii) the Amended and Restated Registration Rights Agreement duly executed by such Purchaser. 
  
 ARTICLE III. 
 REPRESENTATIONS AND WARRANTIES 
  
 3.1 Representations and Warranties of the Company. Except as set forth
under the corresponding section of the Disclosure Schedules or as set forth in the SEC Reports, the 

  

 - 4 - 

 
Company hereby makes the following representations and warranties as of the date hereof to each Purchaser: 
  
 (a) Organization and Qualification. Each of the
Company and the Subsidiaries is an entity duly incorporated or otherwise organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization (as applicable), with the requisite power and authority
to own and use its properties and assets and to carry on its business as currently conducted. Neither the Company nor any Subsidiary is in violation of any of the provisions of its respective certificate or articles of incorporation, by-laws or
other organizational or charter documents. Each of the Company and the Subsidiaries is duly qualified to conduct business and is in good standing as a foreign corporation or other entity in each jurisdiction in which the nature of the business
conducted or property owned by it makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, would not have or reasonably be expected to result in (i) a material adverse effect on the
legality, validity or enforceability of any Transaction Document, (ii) a material adverse effect on the results of operations, assets, business or financial condition of the Company and the Subsidiaries, taken as a whole, or (iii) adversely impair
the Company’s ability to perform in any material respect on a timely basis its obligations under any Transaction Document (any of (i), (ii) or (iii), a “Material Adverse Effect”); provided, however, that in no event shall any
effect that results from any change in general economic conditions or the Company’s industry generally constitute, or be considered in determining the existence of, a Material Adverse Effect. 
  
 (b) Authorization; Enforcement. The Company has the
requisite corporate power and authority to enter into and to consummate the transactions contemplated by each of the Transaction Documents and otherwise to carry out its obligations thereunder. The execution and delivery of each of the Transaction
Documents by the Company and the consummation by it of the transactions contemplated thereby have been duly authorized by all necessary action on the part of the Company and no further action is required by the Company in connection therewith. Each
Transaction Document has been (or upon delivery will have been) duly executed by the Company and, when delivered in accordance with the terms hereof, will constitute the valid and binding obligation of the Company enforceable against the Company in
accordance with its terms except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally and (ii) as limited by laws relating to
the availability of specific performance, injunctive relief or other equitable remedies. 
  
 (c) No Conflicts. The execution, delivery and performance of the Transaction Documents by the Company and the consummation by the
Company of the transactions contemplated thereby do not and will not (i) conflict with or violate any provision of the Company’s or any Subsidiary’s certificate or articles of incorporation, by-laws or other organizational or charter
documents, or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation (with or without
notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing a Company or Subsidiary debt or otherwise) or other 

  

 - 5 - 

 
understanding to which the Company or any Subsidiary is a party or by which any property or asset of the Company or any Subsidiary is bound or affected, or
(iii) result in a violation of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court or governmental authority to which the Company or a Subsidiary is subject (including federal and state securities laws
and regulations), or by which any property or asset of the Company or a Subsidiary is bound or affected; except in the case of each of clauses (ii) and (iii), such as would not have or reasonably be expected to result in a Material Adverse Effect.

  
 (d) Filings, Consents and Approvals.
The Company is not required to obtain any consent, waiver, authorization or order of, give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person in connection
with the execution, delivery and performance by the Company of the Transaction Documents, other than (a) the filing with the Commission of the Registration Statement, the application(s) to each Trading Market for the listing of the Shares for
trading thereon in the time and manner required thereby, and applicable blue sky filings; (b) obtaining consent from its Trading Market to consummate the transaction without prior stockholder approval; or (c) such as have already been obtained or
such exemptive filings as are required to be made under applicable securities laws. 
  
 (e) Issuance of the Shares. The Shares are duly authorized and, when issued and paid for in accordance with the terms and
conditions of the Transaction Documents, will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens. The Company has reserved from its duly authorized capital stock, the maximum number of shares of Common Stock
issuable pursuant to this Agreement. 
  
 (f)
Capitalization. The capitalization of the Company is as described in the Company’s most recent periodic report filed with the Commission as updated by any current report filed with the Commission thereafter. The Company has not issued
any capital stock since such filings other than pursuant to the exercise of employee stock options under the Company’s stock option plans, pursuant to the conversion or exercise of outstanding Common Stock Equivalents and pursuant to publicly
disclosed equity financings. Except as set forth on the Disclosure Schedules, no Person has any right of first refusal, preemptive right, right of participation, or any similar right to participate in the transactions contemplated by the Transaction
Documents that have not been waived. Except as a result of the purchase and sale of the Shares or as described in the SEC Reports, there are no outstanding options, warrants, script rights to subscribe to, calls or commitments of any character
whatsoever relating to, or securities, rights or obligations convertible into or exchangeable for, or giving any Person any right to subscribe for or acquire, any shares of Common Stock, or contracts, commitments, understandings or arrangements by
which the Company or any Subsidiary is or may become bound to issue additional shares of Common Stock, or securities or rights convertible or exchangeable into shares of Common Stock. Except as set forth on the Disclosure Schedules, the issue and
sale of the Shares will not obligate the Company to issue shares of Common Stock or other securities to any Person (other than the Purchasers) and will not result in a right of any holder of Company securities to adjust the exercise, conversion,
exchange or reset price under such securities. 
  

 - 6 - 

 (g) SEC Reports; Financial Statements. The Company has filed all reports required
to be filed by it under the Securities Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the three years preceding the date hereof (or such shorter period as the Company was required by law to file such material)
(the foregoing materials, including the financial statements and footnotes thereto, exhibits thereto and incorporated by reference therein, being collectively referred to herein as the “SEC Reports” and, together with the Disclosure
Schedules to this Agreement, the “Disclosure Materials”) on a timely basis or has received a valid extension of such time of filing and has filed any such SEC Reports prior to the expiration of any such extension. As of their
respective dates, the SEC Reports complied in all material respects with the requirements of the Securities Act and the Exchange Act and the rules and regulations of the Commission promulgated thereunder, and none of the SEC Reports, when filed,
contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The
financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the Commission with respect thereto as in effect at the time of filing. Such
financial statements have been prepared in accordance with generally accepted accounting principles applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise specified in such financial
statements or the footnotes thereto and except that unaudited financial statements may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company and its consolidated Subsidiaries as
of and for the dates thereof and the results of operations and cash flows for the periods then ended, subject, in the case of unaudited statements, to normal year-end audit adjustments. 
  
 (h) Material Changes. Except as set forth on the Disclosure Schedules, since December 31, 2004, (i)
there has been no event, occurrence or development that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables
and accrued expenses incurred in the ordinary course of business consistent with past practice and (B) liabilities not required to be reflected in the Company’s financial statements pursuant to GAAP or required to be disclosed in filings made
with the Commission, (iii) the Company has not altered its method of accounting, (iv) the Company has not declared or made any dividend or distribution of cash or other property to its stockholders or purchased, redeemed or made any agreements to
purchase or redeem any shares of its capital stock; (v) the Company has not issued any equity securities to any officer, director or Affiliate, except pursuant to existing Company stock option plans; and (vi) the Company has not had any disagreement
with its independent auditors that would require public disclosure. 
  
 (i) Compliance. Neither the Company nor any Subsidiary (i) is in default under or in violation of (and no event has occurred that has not been waived that, with notice or lapse of time or both, would result in
a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or
instrument to which it is a party or by which it or any of its 

  

 - 7 - 

 
properties is bound (whether or not such default or violation has been waived), (ii) is in violation of any order of any court, arbitrator or governmental
body, or (iii) is or has been in violation of any statute, rule or regulation of any governmental authority, including without limitation all foreign, federal, state and local laws applicable to its business, except in the case of clauses (i), (ii)
and (iii) as would not have or reasonably be expected to result in a Material Adverse Effect. 
  
 (j) Certain Fees. Except as set forth on the Disclosure Schedules, no brokerage or finder’s fees or commissions are or will be
payable by the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with respect to the transactions contemplated by this Agreement. The Purchasers shall have no obligation with
respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section 3.1(j) that may be due in connection with the transactions contemplated by this Agreement. 
  
 (k) Private Placement. Assuming the accuracy of the
Purchasers representations and warranties set forth in Section 3.2, no registration under the Securities Act is required for the offer and sale of the Shares by the Company to the Purchasers as contemplated hereby. 
  
 (l) Investment Company. The Company is not, and is
not an Affiliate of, an “investment company” within the meaning of the Investment Company Act of 1940, as amended. 
  
 (m) Listing and Maintenance Requirements. Set forth on the Disclosure Schedules is a description of all notices received by the
Company within the past twelve months from any Trading Market relating to the Company’s compliance with the listing or maintenance requirements of such Trading Market. 
  
 3.2 Representations and Warranties of the Purchasers. Each Purchaser hereby, for itself and for no other Purchaser,
represents and warrants as of the date hereof and as of the Closing Date to the Company as follows: 
  
 (a) Organization; Authority. Such Purchaser is an entity duly organized, validly existing and in good standing under the laws of
the jurisdiction of its organization with full right, corporate or partnership power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise to carry out its obligations thereunder. The
execution, delivery and performance by such Purchaser of the transactions contemplated by this Agreement has been duly authorized by all necessary corporate action on the part of such Purchaser. Each Transaction Document to which it is party has
been duly executed by such Purchaser, and when delivered by such Purchaser in accordance with terms hereof, will constitute the valid and legally binding obligation of such Purchaser, enforceable against it in accordance with its terms. 

 
 (b) Investment Intent. Such Purchaser understands
that the Shares are “restricted securities” and have not been registered under the Securities Act or any applicable state securities law and is acquiring the Shares as principal for its own account 

  

 - 8 - 

 
for investment purposes only and not with a view to or for distributing or reselling such Shares or any part thereof, has no present intention of
distributing any of such Shares and has no arrangement or understanding with any other Persons regarding the distribution of such Shares (this representation and warranty not limiting such Purchaser’s right to sell the Shares pursuant to the
Registration Statement or otherwise in compliance with applicable federal and state securities laws). Such Purchaser is acquiring the Shares hereunder in the ordinary course of its business. Such Purchaser does not have any agreement or
understanding, directly or indirectly, with any Person to distribute any of the Shares. 
  
 (c) Purchaser Status. At the time such Purchaser was offered the Shares, it was, and at the date hereof it is an “accredited
investor” as defined in Rule 501(a) under the Securities Act. Such Purchaser (if not already a registered broker-dealer under Section 15 of the Exchange Act) is not required to be registered as a broker-dealer under Section 15 of the Exchange
Act. 
  
 (d) Experience of such Purchaser.
Such Purchaser, either alone or together with its representatives, has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the prospective investment in the
Shares, and has so evaluated the merits and risks of such investment. Such Purchaser is able to bear the economic risk of an investment in the Shares and, at the present time, is able to afford a complete loss of such investment. 
  
 (e) General Solicitation. Such Purchaser is not
purchasing the Shares as a result of any advertisement, article, notice or other communication regarding the Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other
general solicitation or general advertisement. 
  
 (f) Certain Fees. No brokerage or finder’s fees or commissions are or will be payable by such Purchaser to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other Person with
respect to the transactions contemplated by this Agreement. The Company shall have no obligation with respect to any fees or with respect to any claims made by or on behalf of other Persons for fees of a type contemplated in this Section 3.2(f) that
may be due in connection with the transactions contemplated by this Agreement. 
  
 (g) Acquiring Person. Such Purchaser, after giving effect to the transactions contemplated hereby, will not, either individually or
with a group (as defined in Section 13(d)(3) of the Exchange Act), be the beneficial owner of 20% or more of the Company’s outstanding Common Stock. For purposes of this Section 3.2(g), beneficial ownership shall be determined pursuant to a
Rule 13d-3 under the Exchange Act. 
  
 (h)
Material Information. Such Purchaser acknowledges receipt of the SEC Reports. Such Purchaser acknowledges that the Company may have material non-public information with respect to, among other things, the Company’s results of operations
for the quarter ended December 31, 2004 that has not yet been publicly disclosed or disclosed in the Disclosure Materials. Such Purchaser acknowledges that it has requested that the Company not disclose such information to it. 
  

 - 9 - 

 The Company acknowledges and agrees that each Purchaser does not make or has not made any representations
or warranties with respect to the transactions contemplated hereby other than those specifically set forth in this Section 3.2. 
  
 ARTICLE IV. 
 OTHER AGREEMENTS OF THE PARTIES

  
 4.1 Registration. The Company covenants to register the
Shares and the Warrant Shares pursuant to the terms and conditions set forth in the Amended and Restated Registration Rights Agreement. 
  
 4.2 Transfer Restrictions. 
  
 (a) The Shares may only be disposed of in compliance with state and federal securities laws. In connection with any transfer of Shares
other than pursuant to an effective registration statement, to the Company, to an Affiliate of a Purchaser or in connection with a pledge as contemplated in Section 4.2(b), the Company may require the transferor thereof to provide to the Company an
opinion of counsel selected by the transferor, the form and substance of which opinion shall be reasonably satisfactory to the Company, to the effect that such transfer does not require registration of such transferred Shares under the Securities
Act. As a condition of transfer, any such transferee shall agree in writing to be bound by the terms of this Agreement and shall have the rights of a Purchaser under this Agreement and the Amended and Restated Registration Rights Agreement.

  
 (b) The Purchasers agree to the imprinting,
so long as is required by this Section 4.2(b), of a legend on any of the Shares in the following form: 
  
 THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE 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 STATEMENT 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 AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT,
THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. 
  
 The Company acknowledges and agrees that a Purchaser may from time to time pledge pursuant to a bona fide margin agreement with a registered broker-dealer or grant a security interest in some or all of the Shares to a
financial institution that is an “accredited investor” as defined in Rule 501(a) under the Securities Act and, if required under the terms of such arrangement, such Purchaser may transfer pledged or secured Shares to the pledgees or
secured parties. Such a pledge or transfer would not be subject 

  

 - 10 - 

 
to approval of the Company and no legal opinion of legal counsel of the pledgee, secured party or pledgor shall be required in connection therewith. Further,
no notice shall be required of such pledge. At the appropriate Purchaser’s expense, the Company will execute and deliver such reasonable documentation as a pledgee or secured party of Shares may reasonably request in connection with a pledge or
transfer of the Shares, including the preparation and filing of any required prospectus supplement under Rule 424(b)(3) of the Securities Act or other applicable provision of the Securities Act to appropriately amend the list of Selling Stockholders
thereunder. 
  
 (c) Certificates evidencing the
Shares shall not contain any legend (including the legend set forth in Section 4.2(b)), (i) while a registration statement (including the Registration Statement) covering the resale of such security is effective under the Securities Act and such
security has been sold pursuant to such Registration Statement, or (ii) following any sale of such Shares pursuant to Rule 144, or (iii) if such Shares are eligible for sale under Rule 144(k), or (iv) if such legend is not required under applicable
requirements of the Securities Act (including judicial interpretations and pronouncements issued by the Staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Company’s transfer agent promptly after the
Effective Date if required by the Company’s transfer agent to effect the removal of the legend hereunder in connection with the sale of Shares by a Purchaser. The Company agrees that following the Effective Date or at such time as such legend
is no longer required under this Section 4.2(c), it will, no later than seven Trading Days following the delivery by a Purchaser to the Company or the Company’s transfer agent of: (i) a certificate representing Shares issued with a restrictive
legend; and (ii) any other documentation reasonably requested by the Company, its counsel or its transfer agent, deliver or cause to be delivered to such Purchaser a certificate representing such Shares that is free from all restrictive and other
legends. The Company may not make any notation on its records or give instructions to any transfer agent of the Company that enlarge the restrictions on transfer set forth in this Section. 
  
 4.3 Furnishing of Information. As long as any Purchaser owns Shares,
the Company covenants to timely file (or obtain extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to the Exchange Act. Upon the request of any
such holder of Shares, the Company shall deliver to such holder a written certification of a duly authorized officer as to whether it has complied with the preceding sentence. As long as any Purchaser owns Shares, if the Company is not required to
file reports pursuant to such laws, it will prepare and furnish to the Purchasers and make publicly available in accordance with Rule 144(c) such information as is required for the Purchasers to sell the Shares under Rule 144. The Company further
covenants that it will take such further action as any holder of Shares may reasonably request, all to the extent required from time to time to enable such Person to sell such Shares without registration under the Securities Act within the
limitation of the exemptions provided by Rule 144. 
  
 4.4
Securities Laws Disclosure; Publicity. The Company shall, within four Trading Days of the Closing Date, issue a press release or file a Current Report on Form 8-K, in each case reasonably acceptable to each Purchaser disclosing the
transactions contemplated hereby and make such other filings and notices in the manner and time required by the Commission. The Company and each Purchaser shall consult with each other in issuing any press releases with 

  

 - 11 - 

 
respect to the transactions contemplated hereby, and neither the Company nor any Purchaser shall issue any such press release or otherwise make any such
public statement without the prior consent of the Company, with respect to any press release of any Purchaser, or without the prior consent of each Purchaser, with respect to any press release of the Company, which consent shall not unreasonably be
withheld, except if such disclosure is required by relevant securities or other laws, in which case the disclosing party shall promptly provide the other party with prior notice of such public statement or communication. Notwithstanding the
foregoing, the Company shall not publicly disclose the name of any Purchaser, or include the name of any Purchaser in any filing with the Commission or any regulatory agency or Trading Market, without the prior written consent of such Purchaser,
except (i) as required by federal securities law in connection with the Registration Statement contemplated by the Amended and Restated Registration Rights Agreement and (ii) to the extent such disclosure is required by law or Trading Market
regulations. 
  
 4.5 Shareholders Rights Plan. The Company
will cause the Purchasers to be excluded from the definition of an “Acquiring Person” under any shareholders rights plan or similar plan or arrangement in effect, so long as any Purchaser holds any Shares. 
  
 4.6 Future Sales of Common Stock. Subject to its fiduciary
responsibilities to its stockholders, the Company covenants and agrees that it will not issue any of its Common Stock at a price less than the Per Share Purchase Price until the Effective Date; provided, that, this Section 4.6 shall
not apply to any issuance of Common Stock pursuant to any agreement made prior to the Closing Date, including, but not limited to, any warrant, option or other security convertible into or exercisable for Common Stock or any Common Stock issued
pursuant to any employee stock option plan, stock option plan for non-employee directors, or any other plan that provides incentive stock grants to the Company’s employees, directors, consultants or agents. 
  
 4.7 Use of Proceeds. The Company shall use the proceeds from the sale
of the Shares for working capital and general corporate purposes. 
  
 4.8 Indemnification of Purchasers. The Company will indemnify and hold the Purchasers and their directors, officers, shareholders, partners, employees and agents (each, a “Purchaser Party”) harmless from any and all
losses, liabilities, obligations, claims, contingencies, damages, costs and expenses, including all judgments, amounts paid in settlements, court costs and reasonable attorneys’ fees and costs of investigation that any such Purchaser Party may
suffer or incur as a result of or relating to any misrepresentation, breach or inaccuracy, or any allegation by a third party that, if true, would constitute a breach or inaccuracy, of any of the representations, warranties, covenants or agreements
made by the Company in this Agreement or in the other Transaction Documents. The Company will reimburse such Purchaser for its reasonable legal and other out-of-pocket expenses (including the cost of any investigation, in connection therewith)
incurred in connection therewith, as such expenses are incurred. 
  
 4.9 Reservation of Common Stock. As of the date hereof, the Company has reserved and the Company shall continue to reserve and keep available at all times, a sufficient number of shares of Common Stock for the purpose of enabling the
Company to issue Shares pursuant to this Agreement. 
  

 - 12 - 

 4.10 Listing of Common Stock. The Company hereby agrees to use commercially reasonable efforts to
maintain the listing of the Common Stock on the Trading Market, and as soon as reasonably practicable following the Closing (but not later than the earlier of the Effective Date and the first anniversary of the Closing Date) to list the Shares on
the Trading Market. The Company further agrees, if the Company applies to have the Common Stock traded on any other Trading Market, it will include in such application the Shares, and will take such other action as is necessary or desirable in the
opinion of the Purchasers to cause the Shares to be listed on such other Trading Market as promptly as possible. The Company will take all action reasonably necessary to comply in all respects with the Company’s reporting, filing and other
obligations under the by-laws or rules of the Trading Market. 
  
 4.11 Lock-up Agreements. Subject to the terms and conditions hereof, each Purchaser will not (i) for a period of one (1) year from the date hereof, (and will cause any spouse, or immediate family member of the spouse or the Purchaser
living in the Purchaser’s household, not to), directly or indirectly, sell, offer, contract or grant any option to sell (including, without limitation, any short sale), pledge, transfer, or otherwise dispose of any Shares, (ii) for a period of
six (6) months from the date hereof, (and will cause any spouse, or immediate family member of the spouse or the Purchaser living in the Purchaser’s household, not to), directly or indirectly, sell, offer, contract or grant any option to sell,
pledge, transfer, or otherwise dispose of any other shares of capital stock of the Company, now owned or hereafter acquired and (iii) for a period of six (6) months from the date hereof, (and will cause any spouse, or immediate family member of the
spouse or the Purchaser living in the Purchaser’s household, not to), engage in any hedging transaction (including short sales, call options, cashless collar transactions, swaps or other forms of derivative security transactions) that would
have the effect of reducing such Purchaser’s position in the Company or limiting such Purchaser’s economic risk of their position in the Company or that may otherwise have an impact on the market price of the Common Stock. 
  
 ARTICLE V. 
 MISCELLANEOUS 
  
 5.1 Entire Agreement. The Transaction Documents, together with the exhibits and Disclosure Schedules thereto, contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior
agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and schedules. The Disclosure Schedules are incorporated by reference herein and are included
as part of the Transaction Documents. 
  
 5.2 Notices. Any
and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is
delivered via facsimile at the facsimile number specified on the signature pages hereto prior to 6:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after the date of transmission, if such notice or communication is delivered
via facsimile at the facsimile number specified on the signature pages hereto on a day that is not a Trading Day or later than 6:30 p.m. (New York City time) on any Trading Day, (c) the Trading Day following the date of mailing, if sent by U.S.
nationally recognized overnight courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages attached hereto.

  

 - 13 - 

 5.3 Amendments; Waivers. No provision of this Agreement may be waived or amended except in a
written instrument signed, in the case of an amendment, by the Company and Purchasers holding a majority of the Shares sold hereunder or, in the case of a waiver, by the party against whom enforcement of any such waiver is sought. No waiver of any
default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor
shall any delay or omission of either party to exercise any right hereunder in any manner impair the exercise of any such right. 
  
 5.4 Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or
affect any of the provisions hereof. The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rules of strict construction will be applied against any party. 
  
 5.5 Successors and Assigns. This Agreement shall be binding upon and
inure to the benefit of the parties and their successors and permitted assigns. Any Purchaser may assign any or all of its rights under this Agreement to any Person to whom such Purchaser assigns or transfers any Shares, provided such transferee is
an accredited investor as defined under Rule 501(a) under the Securities Act and agrees in writing to be bound, with respect to the transferred Shares, by the provisions hereof that apply to the “Purchasers”. 
  
 5.6 Expenses. The Company shall pay, at the Closing, the professional
expenses of Ingalls & Snyder, LLC, incurred in connection with the preparation of this Agreement and the other agreements contemplated hereby and the transactions contemplated hereby. 
  
 5.7 No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their
respective successors and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other Person. 
  
 5.8 Governing Law. All questions concerning the construction, validity, enforcement and interpretation of the Transaction Documents shall be
governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party agrees that all legal proceedings concerning the interpretations,
enforcement and defense of the transactions contemplated by this Agreement and any other Transaction Documents (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, employees or agents) shall be
commenced exclusively in the state and federal courts sitting in the State of New York. Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the State of New York for the adjudication
of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein (including with respect to the enforcement of the any of the Transaction Documents), and hereby irrevocably waives, and agrees not to
assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper. Each party hereto hereby irrevocably waives personal service of process
and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any 

  

 - 14 - 

 
right to serve process in any manner permitted by law. Each party hereto (including its affiliates, agents, officers, directors and employees) hereby
irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. If either party shall commence an
action or proceeding to enforce any provisions of a Transaction Document, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorneys fees and other costs and expenses incurred with the
investigation, preparation and prosecution of such action or proceeding. 
  
 5.9 Survival. The representations, warranties, agreements and covenants contained herein shall survive the Closing for a period of one year from the Closing Date. 
  
 5.10 Execution. This Agreement may be executed in two or more
counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need
not sign the same counterpart. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same
force and effect as if such facsimile signature page were an original thereof. 
  
 5.11 Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms and provisions of this Agreement shall not in
any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute provision in this Agreement.

  
 5.12 Replacement of Shares. If any certificate or
instrument evidencing any Shares is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange and substitution for and upon cancellation thereof, or in lieu of and substitution therefor, a new certificate or
instrument, but only upon receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary and reasonable indemnity, if requested. The applicants for a new certificate or instrument under such circumstances
shall also pay any reasonable third-party costs associated with the issuance of such replacement Shares. 
  
 5.13 Remedies. In addition to being entitled to exercise all rights provided herein or granted by law, including recovery of damages, each of the
Purchasers and the Company will be entitled to specific performance under the Transaction Documents. The parties agree that monetary damages may not be adequate compensation for any loss incurred by reason of any breach of obligations described in
the foregoing sentence and hereby agrees to waive in any action for specific performance of any such obligation the defense that a remedy at law would be adequate. 
  
 5.14 Payment Set Aside. To the extent that the Company makes a payment or payments to any Purchaser pursuant to any
Transaction Document or a Purchaser enforces or exercises its rights thereunder, and such payment or payments or the proceeds of such enforcement or exercise or any part thereof are subsequently invalidated, declared to be fraudulent or
preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or otherwise restored to the Company, a trustee, receiver or any other person under any law (including, without limitation, any bankruptcy law, state or
federal law, common law or 

  

 - 15 - 

 
equitable cause of action), then to the extent of any such restoration the obligation or part thereof originally intended to be satisfied shall be revived
and continued in full force and effect as if such payment had not been made or such enforcement or setoff had not occurred. 
  
 5.15 Independent Nature of Purchasers’ Obligations and Rights. The obligations of each Purchaser under any Transaction Document are several
and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance of the obligations of any other Purchaser under any Transaction Document. Nothing contained herein or in any Transaction
Document, and no action taken by any Purchaser pursuant thereto, shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way
acting in concert or as a group with respect to such obligations or the transactions contemplated by the Transaction Document. Each Purchaser shall be entitled to independently protect and enforce its rights, including without limitation, the rights
arising out of this Agreement or out of the other Transaction Documents, and it shall not be necessary for any other Purchaser to be joined as an additional party in any proceeding for such purpose. Each Purchaser has been represented by its own
legal counsel in their review and negotiation of the Transaction Documents. 
  
 (Signature Page Follows) 
  

 - 16 - 

 IN WITNESS WHEREOF, the parties hereto have caused this Common Stock Purchase Agreement to be duly
executed by their respective authorized signatories as of the date first indicated above. 
  

					
	BOSTON LIFE SCIENCES, INC.	 	 Address for Notice:

			
	 By:
	 	 /s/ Joseph P. Hernon

	 	 20 Newbury Street, 5th Floor,

	 Name:
	 	 Joseph P. Hernon
	 	 Boston, Massachusetts 02116

	 Title:
	 	 Chief Financial Officer
	 	 Attn: Chief Executive Officer

	 	 	 	 	 Tel: (617) 425-0200

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	 Anthony Koenig
	 	 Address for Notice:

	 Print Entity Name
	 	 
			
	 By:
	 	 /s/ Arthur Koenig

	 	 Attn: c/o Tom Boucher

	 Print Name:
	 	 Arthur Koenig
	 	 Ingalls & Snyder LLC

	 Print Title:
	 	 	 	 61 Broadway

	 	 	 	 	 New York, NY 10006

	 	 	 	 	 Tel: 212-269-7897

	 	 	 	 	 Fax: 212-369-4177

  
 Subscription Amount: $475,000

  
 Shares Purchased: 190,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 
  

 - 2 - 

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	 Thomas G. Boucher
	 	 Address for Notice:

	 Print Entity Name
	 	 
			
	 By:
	 	 /s/ Thomas G. Boucher

	 	 Attn: c/o Tom Boucher

	 Print Name:
	 	 Thomas G. Boucher
	 	 Ingalls & Snyder LLC

	 Print Title:
	 	 	 	 61 Broadway

	 	 	 	 	 New York, NY 10006

	 	 	 	 	 Tel: 212-269-7897

	 	 	 	 	 Fax: 212-369-4177

  
 Subscription Amount: $125,000

  
 Shares Purchased: 50,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	 Adam Janovic
	 	 Address for Notice:

	 Print Entity Name
	 	 
			
	 By:
	 	 /s/ Adam Janovic

	 	 Attn: c/o Tom Boucher

	 Print Name:
	 	 Adam Janovic
	 	 Ingalls & Snyder LLC

	 Print Title:
	 	 	 	 61 Broadway

	 	 	 	 	 New York, NY 10006

	 	 	 	 	 Tel: 212-269-7897

	 	 	 	 	 Fax: 212-369-4177

  
 Subscription Amount: $100,000

  
 Shares Purchased: 40,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	 Robert L. Gipson
	 	 Address for Notice:

	 Print Entity Name
	 	 
			
	 By:
	 	 /s/ Robert L. Gipson

	 	 Attn: c/o Tom Boucher

	 Print Name:
	 	 Robert L. Gipson
	 	 Ingalls & Snyder LLC

	 Print Title:
	 	 	 	 61 Broadway

	 	 	 	 	 New York, NY 10006

	 	 	 	 	 Tel: 212-269-7897

	 	 	 	 	 Fax: 212-369-4177

  
 Subscription Amount: $875,000

  
 Shares Purchased: 350,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	 John Dougherty
	 	 Address for Notice:

	 Print Entity Name
	 	 
			
	 By:
	 	 /s/ John Dougherty

	 	 Attn: c/o Tom Boucher

	 Print Name:
	 	 John Dougherty
	 	 Ingalls & Snyder LLC

	 Print Title:
	 	 	 	 61 Broadway

	 	 	 	 	 New York, NY 10006

	 	 	 	 	 Tel: 212-269-7897

	 	 	 	 	 Fax: 212-369-4177

  
 Subscription Amount: $250,000

  
 Shares Purchased: 100,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	 Christopher Siege
	 	 Address for Notice:

	 Print Entity Name
	 	 
			
	 By:
	 	 /s/ Christopher Siege

	 	 Attn: c/o Tom Boucher

	 Print Name:
	 	 Christopher Siege
	 	 Ingalls & Snyder LLC

	 Print Title:
	 	 	 	 61 Broadway

	 	 	 	 	 New York, NY 10006

	 	 	 	 	 Tel: 212-269-7897

	 	 	 	 	 Fax: 212-369-4177

  
 Subscription Amount: $75,000

  
 Shares Purchased: 30,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	 Horace S. Boone
	 	 Address for Notice:

	 Print Entity Name
	 	 
			
	 By:
	 	 /s/ Horace S. Boone

	 	 Attn: c/o Tom Boucher

	 Print Name:
	 	 Horace S. Boone
	 	 Ingalls & Snyder LLC

	 Print Title:
	 	 	 	 61 Broadway

	 	 	 	 	 New York, NY 10006

	 	 	 	 	 Tel: 212-269-7897

	 	 	 	 	 Fax: 212-369-4177

  
 Subscription Amount: $100,000

  
 Shares Purchased: 40,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	 Steven M. Foote
	 	 Address for Notice:

	 Print Entity Name
	 	 
			
	 By:
	 	 /s/ Steven M. Foote

	 	 Attn: c/o Tom Boucher

	 Print Name:
	 	 Steven M. Foote
	 	 Ingalls & Snyder LLC

	 Print Title:
	 	 	 	 61 Broadway

	 	 	 	 	 New York, NY 10006

	 	 	 	 	 Tel: 212-269-7897

	 	 	 	 	 Fax: 212-369-4177

  
 Subscription Amount: $250,000

  
 Shares Purchased: 100,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	Thomas DiCosto	 	Address for Notice:
	Print Entity Name	 	 
			
	By:	 	 /s/ Thomas DiCosto

	 	Attn: c/o Tom Boucher
	Print Name:	 	Thomas DiCosto	 	Ingalls & Snyder LLC
	Print Title:	 	 	 	61 Broadway
	 	 	 	 	New York, NY 10006
	 	 	 	 	Tel: 212-269-7897
	 	 	 	 	Fax: 212-369-4177

  
 Subscription Amount: $62,500

  
 Shares Purchased: 25,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	Heritage Mark Foundation	 	Address for Notice:
	Print Entity Name	 	 
			
	By:	 	 /s/ Kenneth J. Forte

	 	Attn: c/o Tom Boucher
	Print Name:	 	Kenneth J. Forte	 	Ingalls & Snyder LLC
	Print Title:	 	Trustee	 	61 Broadway
	 	 	 	 	New York, NY 10006
	 	 	 	 	Tel: 212-269-7897
	 	 	 	 	Fax: 212-369-4177

  
 Subscription Amount: $612,500

  
 Shares Purchased: 245,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	Valerie A. Brackett	 	Address for Notice:
	Print Entity Name	 	 
			
	By:	 	 /s/ Valerie A. Brackett

	 	Attn: c/o Tom Boucher
	Print Name:	 	Valerie A. Brackett	 	Ingalls & Snyder LLC
	Print Title:	 	 	 	61 Broadway
	 	 	 	 	New York, NY 10006
	 	 	 	 	Tel: 212-269-7897
	 	 	 	 	Fax: 212-369-4177

  
 Subscription Amount: $450,000

  
 Shares Purchased: 180,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	Thomas Gipson	 	Address for Notice:
	Print Entity Name	 	 
			
	By:	 	 /s/ Thomas Gipson

	 	Attn: c/o Tom Boucher
	Print Name:	 	Thomas Gipson	 	Ingalls & Snyder LLC
	Print Title:	 	 	 	61 Broadway
	 	 	 	 	New York, NY 10006
	 	 	 	 	Tel: 212-269-7897
	 	 	 	 	Fax: 212-369-4177

  
 Subscription Amount: $1,175,000

  
 Shares Purchased: 470,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 

 [PURCHASER SIGNATURE PAGES TO COMMON STOCK PURCHASE AGREEMENT] 
  

					
	Patricia Gipson	 	Address for Notice:
	Print Entity Name	 	 
			
	By:	 	 /s/ Patricia Gipson

	 	Attn: c/o Tom Boucher
	Print Name:	 	Patricia Gipson	 	Ingalls & Snyder LLC
	Print Title:	 	 	 	61 Broadway
	 	 	 	 	New York, NY 10006
	 	 	 	 	Tel: 212-269-7897
	 	 	 	 	Fax: 212-369-4177

  
 Subscription Amount: $450,000

  
 Shares Purchased: 180,000 
  
 Security Delivery Instructions (if different than Notice Address) 
  
 Register in the name of: 
  
 Ingalls & Snyder LLC 
 Attn: Cage

 61 Broadway 
 New York, NY 10006 

 EXHIBIT A 
  

AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT 

 EXHIBIT B 
  

OPINION OF WILMER CUTLER PICKERING HALE AND DORR LLP

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00082-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00082-of-00352.parquet"}]]