Document:

exhibit4-4.htm

    EXHIBIT 4.4 

     

    COMMON STOCK PURCHASE AGREEMENT

     

    THIS COMMON
STOCK PURCHASE AGREEMENT (“Agreement”) is made and entered into as of
August 16, 2010 (the “Effective Date”), by and between GERON CORPORATION,
a Delaware corporation having its principal place of business at 230
Constitution Drive, Menlo Park, California 94025 (“Geron”), and ReSearch Pharmaceutical
Services, Inc., a Delaware corporation having its principal place of business at
520 Virginia Drive, Fort Washington, Pennsylvania, 19034 (“COMPANY”).

     

    
      	     	A.	     	Geron and COMPANY are the parties to that certain Master Agreement
      dated as of November 6, 2009 (the “Master
      Agreement”), and a related Project Agreement No. 2 (the “Project
      Agreement”) under which Geron and COMPANY have agreed that COMPANY will
      perform certain services on behalf of Geron on the terms set forth
      therein.
	
            	 
	
            	B.	
            	Pursuant to the Master Agreement, Geron has agreed to make payment
      for such services through the delivery of shares of Geron’s Common Stock
      (the “Shares”) to COMPANY, pursuant to the
      terms and conditions of the Master Agreement, the Project Agreement, and
      this Agreement.

    

     

    THE PARTIES AGREE AS FOLLOWS:

     

    
      	1.	     	ISSUANCE OF SHARES;
      ADJUSTMENTS.
	 
	 	
            	1.1	     	As payment of the price
      specified in the Project Agreement, Geron will issue and deliver to
      COMPANY certificates for 281,426 Shares. Upon issuance and delivery of the
      certificate(s) for the Shares, all Shares shall be duly authorized and
      validly issued and represent fully paid Shares.
	 
	2.	
            	CLOSING;
      DELIVERY.
	 
	 	
            	2.1	
            	The consummation of the
      transaction contemplated by this Agreement (the “Closing”) shall be held at such time
      and place as is mutually agreed upon between the parties, but in any event
      Geron shall make commercially reasonable efforts to accomplish the Closing
      no later than five (5) business days after the Effective Date (the
      "Closing
      Date”). At
      the Closing, Geron shall deliver to COMPANY one or more certificates
      representing all of the Shares, which Shares shall be issued in the name
      of COMPANY or its designee and in such denominations as COMPANY shall
      specify.
	 
	 	
            	2.2	
            	Geron’s obligations to issue
      and deliver the stock certificate(s) representing the Shares to COMPANY at
      the Closing shall be subject to the following conditions, which may be
      waived by Geron:
	 
	 	
            	 	
            	2.2.1	     	the covenants and obligations that COMPANY is required to perform
      or to comply with pursuant to this Agreement, at or prior to the Closing,
      must have been duly performed and complied with in all material respects;
      and
	 
	 	
            	 	
            	2.2.2	
            	the representations and warranties made by COMPANY herein shall be
      true and correct in all material respects as of the Closing
  Date.
	 
	 	
            	2.3	
            	COMPANY’s obligation to accept
      delivery of the stock certificate(s) representing the Shares at the
      Closing shall be subject to the following conditions, any one or more of
      which may be waived by COMPANY:
	 
	 	
            	 	
            	2.3.1	
            	the covenants and obligations that Geron is required to perform or
      to comply with pursuant to this Agreement, at or prior to the Closing,
      must have been duly performed and complied with in all material
      respects;
	
            	
            	
            	
            	
            	
            	 
	 	 	 	 	2.3.2	 	Geron
      shall have available under its Certificate of Incorporation, as amended
      and restated to date (the “Certificate of
      Incorporation”), sufficient authorized shares of Common Stock to issue the Shares
      to COMPANY; and
	
            	
            	
            	
            	 
	
            	
            	
            	
            	2.3.3	
            	the representation and warranties made by Geron herein shall be
      true and correct in all material respects as of the Closing
  Date.

    

     

    

    
    

    
      	3.	     	RESTRICTIONS ON RESALE OF
      SHARES.
	 
	 	
            	3.1	     	Legends. COMPANY understands and
      acknowledges that the Shares are not registered under the Securities Act
      of 1933, as amended (the “Act”), and that under the Act and
      other applicable laws COMPANY may be required to hold such Shares for an
      indefinite period of time. Each stock certificate representing Shares
      shall bear the following legend:
	 
	 	
            	 	
            	
              “THE
      SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
      SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). ANY TRANSFER OF SUCH
      SECURITIES SHALL BE INVALID UNLESS A REGISTRATION STATEMENT UNDER THE ACT
      IS IN EFFECT AS TO SUCH TRANSFER OR, IN THE OPINION OF COUNSEL REASONABLY
      ACCEPTABLE TO GERON, SUCH REGISTRATION IS UNNECESSARY FOR SUCH TRANSFER TO
      COMPLY WITH THE ACT. THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO THE
      TERMS OF THE COMMON STOCK PURCHASE AGREEMENT BY AND BETWEEN GERON AND
      RESEARCH PHARMACEUTICAL SERVICES, INC., DATED AS OF AUGUST 16, 2010. A
      COPY OF THE AGREEMENT CAN BE OBTAINED FROM THE SECRETARY OF
      GERON.”

            
	 
	 	
            	 	
            	The legend set forth above shall be removed upon written request by
      COMPANY, and Geron shall make commercially reasonable efforts to issue, or
      to cause its transfer agent to issue, as soon as practicable but in any
      event within five (5) trading days after receipt of such written request
      by COMPANY, a certificate or certificates without such legend to COMPANY,
      if, unless otherwise required by blue sky or state securities laws, (i)
      the sale of Shares is registered under the Act (including registration
      pursuant to Rule 416 thereunder); (ii) COMPANY provides Geron with an
      opinion of counsel, in form, substance and scope customary for opinions of
      counsel in comparable transactions, to the effect that a public sale or
      transfer of the Shares may be made without registration under the Act; or
      (iii) COMPANY provides to Geron such documentation and information as may
      be reasonably requested by Geron to permit counsel for Geron to render an
      opinion, in form, substance and scope customary for opinions of counsel in
      comparable transactions, that the Shares can be sold under Rule
    144.
	 
	 	
            	3.2	
            	Limits on Sales.
      COMPANY
      agrees that if it decides to resell some or all of the Shares, it will do
      so only through orderly sales executed through a top-tier brokerage house.
      COMPANY further agrees that hedging transactions involving the Shares
      shall not be conducted by COMPANY unless in compliance with the Act, and
      any hedging transactions conducted by COMPANY shall not involve short
      sales of the Geron’s Common Stock.
	 
	 	
            	3.3	
            	Further Limitations.
      Geron
      shall not be required (i) to transfer on its books any Shares that have
      been sold or otherwise transferred in violation of any of the provisions
      of this Agreement or applicable securities laws; or (ii) to treat as owner
      of such Shares or to accord the right to vote or pay dividends to any
      purchaser or other transferee to whom such Shares shall have been so
      transferred in violation of any of the provisions of this Agreement or
      applicable securities laws.
	 
	 	
            	3.4	
            	
              Notwithstanding
      anything to the contrary herein, COMPANY is not required to hold the
      Shares for a minimum term and reserves the right to dispose of the Shares
      pursuant to the Registration Statement (as defined below) or in accordance with
      Rule 144 or other equivalent provision then in effect under the
      Act.

            

    

     

    

    
    

    
      	4.	     	REGISTRATION
      RIGHTS
	 
	 	
            	4.1	     	Geron shall use commercially reasonable efforts to file with the
      Securities and Exchange Commission (the “Commission”) as soon as practicable, but
      in no event later than ten (10) business days following the Closing Date,
      a registration statement on Form S-3 (or, if Form S-3 is not then
      available, on such form of registration statement as is then available to
      effect a registration of the Shares, each such registration statement
      being (the “Registration
      Statement”) covering the resale of the Shares under the Act by COMPANY. Geron
      shall use commercially reasonable efforts to cause the Registration
      Statement required to be filed pursuant to this Section 4.1 to become
      effective as soon as reasonably practicable. Geron shall respond promptly
      to any and all comments made by the staff of the Commission to any
      Registration Statement required to be filed under this Agreement, and
      shall submit to the Commission, promptly, and in any event before the
      close of business on the business day immediately following Geron’s
      receipt of notice (either by telephone or in writing) that no review of
      such Registration will be made by the Commission or that the staff of the
      Commission has no further comments on such Registration Statement, as the
      case may be a request for acceleration of the effectiveness of such
      Registration Statement to a date and time as soon as practicable. Geron
      will notify COMPANY of the effectiveness of the Registration Statement as
      soon as practicable and in no event later than one (1) business day after
      receiving notice from the Commission declaring the Registration Statement
      effective.
	 
	 	
            	4.2	
            	Geron will make commercially reasonable efforts to prepare, file
      and maintain the Registration Statement and any post-effective amendment
      or supplement thereto filed or required to be filed under this Section 4
      effective under the Act until the earliest of (i) the date that none of
      the Shares covered by such Registration Statement are issued and
      outstanding, (ii) the date that all of the Shares have been sold pursuant
      to such Registration Statement, (iii) the date COMPANY receives an opinion
      of counsel from Geron, which counsel shall be reasonably acceptable to
      COMPANY, that the Shares may be sold under the provisions of Rule 144 or
      any similar provision then in effect under the Act (without restriction
      except as otherwise set forth in this Agreement), or (iv) the date that
      all Shares have been otherwise transferred to persons who may trade such
      shares without restriction under the Act, and Geron has delivered a new
      certificate or other evidence of ownership for such securities not bearing
      a restrictive legend (the “Registration
      Period”).
	 
	 
	 	
            	4.3	
            	Geron, at its expense, shall furnish to COMPANY with respect to the
      Shares registered under the Registration Statement such reasonable number
      of copies of the Registration Statement in conformity with the
      requirements of the Act and such other documents as COMPANY may reasonably
      request, in order to facilitate the public sale or other disposition of
      all or any of the Shares by COMPANY, provided, however, that the
      obligation of Geron to deliver copies of the Registration Statement and
      such other documents to COMPANY shall be subject to the receipt by Geron
      of reasonable assurances from COMPANY that COMPANY will comply with the
      applicable provisions of the Act and of such other securities or, subject
      to Section 4.4 hereof, blue sky or state securities laws as may be
      applicable in connection with any use of the Registration Statement and
      such other documents.
	 
	 	
            	4.4	
            	
              Geron shall use
      commercially reasonable efforts to (i) register the Shares covered by any
      Registration Statement under such other securities or blue sky laws of
      such jurisdictions in the United States as COMPANY reasonably requests,
      (ii) prepare and file in those jurisdictions such amendments (including
      post-effective amendments) to such registrations as may be necessary to
      maintain the effectiveness thereof during the Registration Period, or
      (iii) obtain exemption from such other securities or blue sky laws. All
      fees, disbursements and out-of-pocket expenses and costs incurred by Geron
      in connection
      with the preparation and filing of any Registration Statement under
      Section 4.1, and in complying with applicable securities and blue sky laws
      (including, without limitation, all attorneys' fees of Geron) shall be
      borne by Geron. COMPANY shall bear the cost of all fees and expenses of
      COMPANY’s counsel. 

            

    

     

    

    
    

    
      	 	
            	4.5	
            	Geron shall use commercially reasonable efforts (i) to prevent the
      issuance of any stop order or other suspension of effectiveness of any
      Registration Statement covering the Shares, and (ii) if such order is
      issued, to obtain the withdrawal of such order at the earliest practicable
      time. Geron will promptly notify COMPANY after it shall receive notice or
      obtain knowledge of the issuance of any stop order by the Commission
      delaying or suspending the effectiveness of the Registration Statement,
      the initiation of any proceeding for that purpose, or the resolution of
      such delay, suspension or proceeding.
	 
	 	
            	4.6	
            	With a view to making available to COMPANY the benefits of Rule 144
      (or its successor rule) and any other rule or regulation of the Commission
      that may at the time permit COMPANY to sell the Shares to the public
      without registration, Geron covenants and agrees to make commercially
      reasonable efforts to: (i) make and keep current public information
      available, as those terms are understood and defined in Rule 144, until
      the earliest of (A) such date as all of the Shares may be resold without
      registration or restriction pursuant to Rule 144 or any other rule of
      similar effect or (B) such date as all of the Shares shall have been
      resold; (ii) file with the Commission in a timely manner all reports and
      other documents required of Geron under the Act and under the Securities
      Exchange Act of 1934, as amended (the “Exchange
      Act”); and
      (iii) furnish to COMPANY so long as COMPANY holds the Shares, promptly
      upon request (A) a written statement by Geron that it reasonably believes
      that it has complied with the reporting requirements of Rule 144, the Act,
      and the Exchange Act, (B) a copy of Geron’s most recent annual or
      quarterly report and such other reports and documents so filed by Geron,
      and (C) such other information as may be reasonably requested to permit
      COMPANY to sell the Shares under Rule 144 without
  registration.
	 
	 	
            	4.7	
            	COMPANY will cooperate with Geron in all respects in connection
      with this Agreement, including timely supplying all information reasonably
      requested by Geron (which shall include all information regarding COMPANY
      and its proposed manner of sale of the Shares required to be disclosed in
      any Registration Statement) and executing and returning all documents
      reasonably requested in connection with the registration and sale of the
      Shares. Nothing in this Agreement shall obligate COMPANY to consent to be
      named as an underwriter in any Registration Statement.
	 
	5.	     	INDEMNIFICATION.
	 
	 	
            	5.1	     	
              Geron agrees to
      indemnify and hold harmless COMPANY (and each person, if any, who controls
      COMPANY within the meaning of Section 15 of the Act, and each officer and
      director of COMPANY) against any and all losses, claims, damages or
      liabilities (or actions or proceedings in respect thereof), joint or
      several, directly or indirectly based upon or arising out of (i) any
      untrue statement or alleged untrue statement of any material fact
      contained in the Registration Statement, any preliminary prospectus, final
      prospectus or summary prospectus contained therein or used in connection
      with the offering of the Shares, or any exhibit, amendment, supplement, or
      document filed therewith or incorporated by reference thereto, (ii) any
      omission or alleged omission to state a material fact required to be
      stated therein or necessary to make the statements therein not misleading,
      or (iii) any violation or alleged violation by Geron of the Act, the
      Exchange Act or any other law (including, without limitation, any state
      securities or blue sky laws, rule or regulation relating to the offer or
      sale of the Shares; and Geron will reimburse each such indemnified party
      for any legal or any other expenses reasonably incurred by them in
      connection with investigating, preparing, pursuing or defending any such
      loss, claim, damage, liability, action or proceeding, except insofar as
      any such loss, claim, damage, liability, action, proceeding or expense
      arises out of or is based upon (A) an untrue statement or alleged untrue
      statement or omission or alleged omission made in the Registration Statement, any
      such preliminary prospectus, final prospectus, summary prospectus,
      exhibit, amendment, supplement, or document filed therewith or
      incorporated by reference thereto in reliance upon and in conformity with
      written information furnished to Geron by or on behalf of COMPANY or such
      other person expressly for use in the preparation thereof, (B) the failure
      of COMPANY to comply with its covenants and agreements contained in
      Section 7.1 or 7.5.3 hereof or (C) any misstatement or omission in any
      prospectus that is corrected in any subsequent prospectus that was
      delivered to COMPANY prior to the pertinent sale or sales by COMPANY. Such
      indemnity shall remain in full force and effect, regardless of any
      investigation made by such indemnified party and shall survive the
      transfer of the Shares by COMPANY.

            

    

     

    

    
    

    
      	   	    	5.2	     	COMPANY agrees to indemnify and hold harmless Geron (and each
      person, if any, who controls Geron within the meaning of Section 15 of the
      Act, and each officer and director of Geron) from and against losses,
      claims, damages or liabilities (or actions or proceedings in respect
      thereof), joint or several, directly or indirectly based upon or arising
      out of any untrue statement of a material fact contained in the
      Registration Statement or any omission of a material fact required to be
      stated in the Registration Statement or necessary in order to make the
      statements in the Registration Statement not misleading if such untrue
      statement or omission was made in reliance upon and in conformity with
      written information furnished to Geron by or on behalf of COMPANY
      specifically for use in preparation of the Registration Statement;
      provided, however, that COMPANY shall not be liable in any such case for
      (A) any untrue statement or omission in the Registration Statement,
      prospectus, or other such document which statement is corrected by COMPANY
      and delivered to Geron prior to the sale from which such loss occurred,
      (B) any untrue statement or omission in any prospectus which is corrected
      by COMPANY in any subsequent prospectus, or supplement or amendment
      thereto, and delivered to Geron prior to the sale or sales from which a
      loss or liability arose, or (C) any failure by Geron to fulfill any of its
      obligations under Section 5.1 hereof.
	
            	
            	 
	
            	
            	5.3	
            	
              Promptly after
      receipt by any indemnified person of a notice of a claim or the beginning
      of any action in respect of which indemnity is to be sought against an
      indemnifying person pursuant to this Section 5, such indemnified person
      shall notify the indemnifying person in writing of such claim or of the
      commencement of such action, but the omission to so notify the
      indemnifying party will not relieve it from any liability which it may
      have to any indemnified party under this Section 5 (except to the extent
      that such omission materially and adversely affects the indemnifying
      party’s ability to defend such action) or from any liability otherwise
      than under this Section 5. Subject to the provisions hereinafter stated,
      in case any such action shall be brought against an indemnified person,
      the indemnifying person shall be entitled to participate therein, and, to
      the extent that it shall elect by written notice delivered to the
      indemnified party promptly after receiving the aforesaid notice from such
      indemnified party, shall be entitled to assume the defense thereof, with
      counsel reasonably satisfactory to such indemnified person. After notice
      from the indemnifying person to such indemnified person of its election to
      assume the defense thereof, such indemnifying person shall not be liable
      to such indemnified person for any legal expense subsequently incurred by
      such indemnified person in connection with the defense thereof, provided,
      however, that if there exists or shall exist a conflict of interest that
      would make inappropriate, in the reasonable opinion of counsel to the
      indemnified person, for the same counsel to represent both the indemnified
      person and such indemnifying person or any affiliate or associate thereof,
      the indemnified person shall be entitled to retain its own counsel at the
      expense of such indemnifying person; provided, however, that no
      indemnifying person shall be responsible for the fees and expenses of more
      than one separate counsel (together with appropriate local counsel) for
      all indemnified parties. In no event shall any indemnifying person be
      liable in respect to any amounts paid in settlement of any action unless
      the indemnifying person shall have approved the terms of such settlement.
      No indemnifying person shall, without the prior written consent of the
      indemnified person, effect any settlement of any pending or threatened
      proceeding in respect of which any indemnified person is or could have
      been a party and indemnification could have been sought hereunder by such
      indemnified person, unless such settlement includes an unconditional release of such
      indemnified person from all liability on claims that are the subject
      matter of such proceeding.

               

            

    

    

    
    

    
      	 	
            	5.4	
            	The provisions of this Section 5 shall survive the termination of
      this Agreement.
	 
	6.	     	REPRESENTATIONS,
      ACKNOWLEDGMENTS AND COVENANTS OF GERON.
	 
	 	
            	Geron hereby represents,
      warrants and covenants to COMPANY as follows:
	 
	 	
            	6.1	     	Organization, Good Standing
      and Qualification. Geron is a corporation duly
      organized, validly existing and in good standing under the laws of the
      State of Delaware and has all requisite corporate power and authority to
      carry on its business as now conducted and as presently proposed to be
      conducted. Geron is duly qualified to transact business and is in good
      standing as a foreign corporation in each jurisdiction in which the
      failure to so qualify would have a material adverse effect on its business
      or properties.
	 
	 	
            	6.2	
            	Authorization.
      All
      corporate action on the part of Geron, its officers, directors and
      stockholders necessary for the authorization, execution and delivery of
      this Agreement, the performance of all obligations of Geron hereunder and
      the authorization, issuance and delivery of the Shares has been taken or
      will be taken prior to the Closing, and this Agreement, when executed and
      delivered, will constitute valid and legally binding obligations of Geron,
      enforceable against Geron in accordance with its terms, except as limited
      by applicable bankruptcy, insolvency, reorganization, moratorium,
      fraudulent conveyance and other laws of general application affecting
      enforcement of creditors’ rights generally, as limited by laws relating to
      the availability of specific performance, injunctive relief or other
      equitable remedies.
	 
	 	
            	6.3	
            	Valid Issuance of Common
      Stock. The
      Shares, when issued, sold and delivered in accordance with the terms
      hereof for the consideration expressed herein, will be duly and validly
      authorized and issued, fully paid and nonassessable and free of
      restrictions on transfer other than restrictions on transfer under this
      Agreement and applicable state and federal securities laws.
	 
	 	
            	6.4	
            	Legal Proceedings and Orders.
      There is
      no action, suit, proceeding or investigation pending or threatened against
      Geron that questions the validity of this Agreement or the right of Geron
      to enter into this Agreement or to consummate the transactions
      contemplated hereby, nor is Geron aware of any basis for any of the
      foregoing. Geron is neither a party nor subject to the provisions of any
      order, writ, injunction, judgment or decree of any court or government
      agency or instrumentality that would affect the ability of Geron to enter
      into this Agreement or to consummate the transactions contemplated
      hereby.
	 
	 	
            	6.5	
            	No Conflicts; Consents.
      The
      execution, delivery and performance of this Agreement by Geron and the
      consummation of the transactions contemplated hereby will not (i) result
      in a violation of the Certificate of Incorporation or Geron’s bylaws, (ii)
      to Geron’s knowledge, 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 (including, without
      limitation, the triggering of any anti-dilution provisions), acceleration
      or cancellation of, any agreement, indenture or instrument to which Geron
      or any of its subsidiaries is a party, or (iii) to Geron’s knowledge,
      result in a violation of any law, rule, regulation, order, judgment or
      decree (including the Act, the Exchange Act, and blue sky or state
      securities laws) applicable to Geron. Except as may be required under the
      Act in connection with the Geron’s obligations under this Agreement and as
      may be required for compliance with applicable state securities or blue
      sky laws, Geron is not required to obtain any consent, approval,
      authorization or order of, or make any filing or registration with, any
      court or governmental agency or any regulatory or self-regulatory agency
      or other third party in order for it to execute, deliver or perform any of
      its obligations under this Agreement.

    

     

    

    
    

    
      	 	
            	6.6	
            	Listing. Geron’s Common Stock is
      currently listed for trading on the Nasdaq Global Market. To Geron’s
      knowledge as of the Effective Date, Geron is not in violation of the
      listing requirements of the Nasdaq Global Market, and has not received any
      notice regarding the delisting of the Common Stock from the Nasdaq Global
      Market. Geron has secured the listing of the Shares on the Nasdaq Global
      Market (subject to official notice of issuance). During the Registration
      Period, Geron shall use commercially reasonable efforts to continue the
      listing and trading of its Common Stock on the Nasdaq Global Market and
      shall comply in all material respects with the reporting, filing, and
      other obligations under the bylaws and rules of the Nasdaq Global
      Market.
	 
	 	
            	6.7	
            	S-3 Eligibility.
      As of the
      Effective Date, Geron is eligible to register the resale of its Common
      Stock on a registration statement on Form S-3 under the Act.
	 
	7.	     	REPRESENTATIONS,
      ACKNOWLEDGMENTS AND COVENANTS OF COMPANY.
	 
	 	
            	COMPANY hereby represents,
      warrants, and covenants that:
	 
	 	
            	7.1	     	Investment.
      COMPANY is
      acquiring the Shares for its own account, and not directly or indirectly
      for the account of any other person. COMPANY is acquiring the Shares for
      investment purposes only and not with a present view towards the public
      sale or distribution thereof, except pursuant to sales that are exempt
      from the registration requirements of the Act and/or sales registered
      under the Act. COMPANY understands that it must bear the economic risk of
      this investment, and that Geron has no present intention of registering
      the resale of the Shares other than as contemplated by this
      Agreement.
	 
	 	
            	7.2	
            	Access to Information.
      COMPANY
      has consulted with its own attorney, accountant, or investment advisor as
      COMPANY has deemed advisable with respect to the investment and has
      determined its suitability for COMPANY. COMPANY has had the opportunity to
      ask questions of, and to receive answers from, appropriate executive
      officers of Geron with respect to the terms and conditions of the
      transactions contemplated hereby and with respect to the business,
      affairs, financial condition and results of operations of Geron. In
      connection with the transactions contemplated hereunder, Geron may
      disclose to COMPANY information which may constitute material, non-public
      information regarding Geron, and COMPANY agrees to maintain in confidence
      any such information; provided, however, such information shall not
      include information (a) that is or becomes part of the public domain, (b)
      that was in COMPANY’s possession without any obligation of confidentiality
      prior to the date Geron disclosed such information to COMPANY, (c) that is
      supplied to COMPANY by a third party which is not subject to any
      restriction of confidentiality or non-disclosure, or (d) that COMPANY is
      required to disclose pursuant to a subpoena or other order from a court or
      other government body of competent jurisdiction, provided that COMPANY
      shall promptly provide prior written notice of such required disclosure to
      Geron, and shall cooperate by performing such actions as Geron may
      reasonably request to permit Geron to seek to obtain a protective or other
      order maintaining the confidentiality of such material, non-public
      information. COMPANY has had access to such financial and other
      information as is necessary in order for COMPANY to make a fully informed
      decision as to investment in Geron, and has had the opportunity to obtain
      any additional information necessary to verify any of such information to
      which COMPANY has had access. COMPANY acknowledges that neither Geron nor
      any of its officers, directors, employees, agents, representatives, or
      advisors have made any representation or warranty concerning the Shares
      other than those specifically expressed herein.
	 
	 	
            	7.3	
            	Business and Financial
      Expertise. COMPANY further represents and warrants that it has such business
      or financial expertise as to be able to evaluate its investment in Geron
      and accept delivery of the Shares.

    

     

    

    
    

    
      	 	
            	7.4	     	Speculative Investment.
      COMPANY
      acknowledges that the investment in Geron represented by the Shares is
      highly speculative in nature and is subject to a high degree of risk of
      loss in whole or in part; the amount of such investment is within
      COMPANY’s risk capital means and is not so great in relation to COMPANY’s
      total financial resources as would jeopardize the personal financial needs
      of COMPANY in the event such investment were lost in whole or in
      part.
	 
	 	
            	7.5	
            	Unregistered Securities.
      COMPANY
      acknowledges that:
	 
	 	
            	 	
            	7.5.1	     	COMPANY must bear the economic risk of investment for an indefinite
      period of time because the Shares have not been registered under the Act
      and therefore cannot and will not be sold unless they are subsequently
      registered under the Act or an exemption from such registration is
      available. Geron has made no agreements, covenants or undertakings
      whatsoever to register any of the Shares under the Act, except as provided
      in Section 4 above. Geron has made no representations, warranties or
      covenants whatsoever as to whether any exemption from the Act, including,
      without limitation, any exemption for limited sales in routine brokers’
      transactions pursuant to Rule 144 under the Act, will become available and
      any such exemption pursuant to Rule 144, if available at all, will not be
      available unless: (i) a public trading market then exists in Geron’s
      common stock, (ii) Geron has complied with the information requirements of
      Rule 144, and (iii) all other terms and conditions of Rule 144 have been
      satisfied.
	 
	 	
            	 	
            	7.5.2	
            	Transfer of the Shares has not been registered under any applicable
      state law regulating securities and, therefore, the Shares cannot and will
      not be sold unless they are subsequently registered under any such act or
      an exemption therefrom is available, except as set forth in this
      Agreement. Geron has made no representations, warranties or covenants
      whatsoever as to whether any exemption from any such act will become
      available.
	 
	 	
            	 	
            	7.5.3	
            	COMPANY hereby certifies that it is an “Accredited Investor”
      as that
      term is defined in Rule 501 under the Act.
	 
	 	
            	7.6	
            	Authorization.
      COMPANY
      has full right, power, authority and capacity to enter into this Agreement
      and to consummate the transactions contemplated hereby and thereby and has
      taken all necessary action to authorize the execution, delivery and
      performance of this Agreement. Upon execution and delivery, this Agreement
      will constitute a valid and binding obligation of COMPANY enforceable
      against COMPANY in accordance with its terms, except as such
      enforceability may be limited by applicable bankruptcy, insolvency,
      reorganization, moratorium, fraudulent transfer, liquidation or similar
      laws relating to, or affecting generally, the enforcement of creditor's
      rights and remedies or by other equitable principles of general
      application from time to time in effect.
	 
	8.	     	TAX ADVICE.
      COMPANY
      acknowledges that COMPANY has not relied and will not rely upon Geron or
      Geron’s counsel with respect to any tax consequences related to the
      ownership or disposition of the Shares. COMPANY assumes full
      responsibility for all such consequences and for the preparation and
      filing of all tax returns and elections which may or must be filed in
      connection with the Shares.
	 
	9.	
            	NOTICES. Any notice or other
      communication required or permitted hereunder shall be in writing and
      shall be deemed to have been duly given on the date of delivery if
      delivered personally or by facsimile, or one day, not including Saturdays,
      Sundays, or national holidays, after sending if sent by national overnight
      delivery service, or five days, not including Saturdays, Sundays, or
      national holidays, after mailing if mailed by first class United States
      mail, certified or registered with return receipt requested, postage
      prepaid, and addressed as follows:

    

     

    

    
    

    

    
      	To Geron at:	
            	Geron Corporation
	
            	
            	230 Constitution
    Drive
	
            	
            	Menlo Park, California
      94025
	
            	
            	Attention: Senior Director,
      Legal
	
            	
            	Telephone:	
            	(650) 473-7700
	
            	
            	Facsimile:	
            	(650) 473-7750
	 
	 
	To COMPANY at:	
            	ReSearch Pharmaceutical
      Services, Inc.
	
            	
            	520 Virginia
Drive
	 	 	Fort Washington, Pennsylvania
      19034
	
            	
            	Attention: Corporate
      Counsel
	
            	
            	Telephone:	 	(215) 540-0700
	
            	
            	Facsimile:	
            	(215)
  540-0770

    

    
      	10.	
            	BINDING EFFECT.
      This
      Agreement shall be binding upon the heirs, legal representatives and
      successors of Geron and of COMPANY.
	 
	11.	
            	GOVERNING LAW.
      This
      Agreement shall be governed by and construed in accordance with the laws
      of the State of Delaware.
	 
	12.	     	INVALID PROVISIONS.
      In the
      event that any provision of this Agreement is found to be invalid or
      otherwise unenforceable by a court or other tribunal of competent
      jurisdiction, such invalidity or unenforceability shall not be construed
      as rendering any other provision contained herein invalid or
      unenforceable, and all such other provisions shall be given full force and
      effect to the same extent as though the invalid and unenforceable
      provision was not contained herein.
	 
	13.	
            	COUNTERPARTS.
      This
      Agreement may be executed in any number of identical counterparts, each of
      which shall be deemed an original, but all of which together shall
      constitute one and the same instrument.
	 
	14.	
            	AMENDMENTS.
      This
      Agreement or any provision hereof may be changed, waived, or terminated
      only by a statement in writing signed by the party against whom such
      change, waiver or termination is sought to be enforced.
	 
	15.	
            	FUTURE COOPERATION.
      Each of
      the parties hereto agrees to cooperate at all times from and after the
      date hereof with respect to all of the matters described herein, and to
      execute such further assignments, releases, assumptions, amendments of the
      Agreement, notifications and other documents as may be reasonably
      requested for the purpose of giving effect to, or evidencing or giving
      notice of, the transactions contemplated by this Agreement.
	 
	16.	
            	ENTIRE AGREEMENT.
      This
      Agreement, the Master Agreement, and the Project Agreement constitute the
      entire agreement of the parties pertaining to the Shares and supersede all
      prior and contemporaneous agreements, representations, and understandings
      of the parties with respect thereto.

    

     

    REST OF PAGE INTENTIONALLY LEFT
BLANK 

     

    

    
    

         IN WITNESS WHEREOF, the parties
hereto have executed this Common Stock Purchase Agreement as of the date first
above written. 

     

    
      	
              Geron
      Corporation

            	
            
	 	
            
	/s/ David L.
      Greenwood	
            
	By:	       	David L. Greenwood	
            
	Title:	
            	Executive Vice President and
      Chief	
            
	Financial Officer	
            
	 	
            
	ReSearch Pharmaceutical
      Services, Inc.	
            
	 	
            
	/s/ Steven
      Bell	
            
	By:	 	Steven Bell	
            
	Title:	
            	Chief Financial
    Officerf10q0610ex10i_amerenergy.htm

Exhibit 10.1

 

PURCHASE AND ROYALTY AGREEMENT

 

Between:

 

Green Energy Fields, Inc., a Nevada corporation, whose address is 3266 W. Galveston #101, Apache Junction, Arizona 85120, telephone number (480) 288-6530, facsimile number (480) 288-6532 (hereinafter, the "Purchaser"),

 

-and-

 

NPX Metals, Inc., a Nevada corporation, whose address is 3266 W. Galveston #101, Apache Junction, Arizona 85120, telephone number (480) 288-6530, facsimile number (480) 288-6532 (hereinafter, the "Vendor"),

 

WHEREAS the Vendor is the legal and beneficial owner of a 100% interest in those certain 86 unpatented lode mining claims, located in Mohave county, Arizona, set out in Appendix A attached hereto (the "Claims"), subject only to the royalty interest ("First Royalty") as set forth in that Purchase and Royalty Agreement dated March 10, 2010 attached hereto as Appendix D (the "First Royalty Agreement" attached), and otherwise free and clear of all encumbrances, liens or charges;

 

AND WHEREAS the Purchaser wishes to purchase the Claims under the following conditions:

 

	1.	
The Purchaser agrees to pay and grant to the Vendor the following:

 

	
(a)  

	
US $65,000.00 on the earlier of 4-26-10 and the date that is the date of signing of a letter of intent between the Purchaser and a corporation whose securities are listed for trading on a recognized stock exchange (a "Pubco") regarding the vending or the optioning of the Claims to Pubco.

 

	
(b)  

	
If the Purchaser transfers the Claims to a Pubco (a "Transaction"), Purchaser shall cause the Pubco entity to grant, subject to receipt of all requisite regulatory approvals, 200,000 common shares in the capital stock of such Pubco to the Vendor.

 

	2.	
Upon payment and grant of all monies and shares as specified in Paragraph 1, the Vendor gives and grants to the Purchaser an undivided 100% right, title and interest in and to the Claims, subject only to the First Royalty and the Second Royalty (defined below).

	 	 
	3.	The Vendor hereby and at the Closing (defined below) represents and warrants that:

 

	(a)   	it is, subject to the paramount rights of the United States, the owners of an undivided 100% legal and beneficial interest in and to the Claims;

 

  

1

  

 

	(b)   	the Claims are free and clear of any encumbrances, liens or charges and neither they nor any of their predecessors in interest or title have done anything whereby the Claims may be encumbered;
	 	 
	(c)   	the Claims are in good standing under all applicable laws and regulations and all assessment work or claim maintenance fees required by applicable law has been performed and filed and all taxes have been paid;
	 	 
	(d)   	the Claims have been properly located and staked and recorded in compliance with the laws of the jurisdiction in which they are situated, and that there are no disputes over title to the Claims, except that no representation is made related to the existence of discovery of valuable mineral within the Claims;
	 	 
	(e)   	it has the right to enter into this Purchase and Royalty Agreement and to dispose of 100% of their right, title and interest in and to the Claims to the Purchaser;
	 	 
	 (f)   	upon the payment by the Purchaser or its assign of all the amounts specified in Paragraph 1(a) and the issuance and delivery of the shares specified in Paragraph 1(b) above, the purchase of the Claims by the Purchaser or its assign shall be completed (the "Closing") and, immediately thereafter, the Vendor shall execute and deliver a quit claim deed or such other documents as the Purchaser may reasonably require transferring 100% of their right, title and interest in and to the Claims to the Purchaser subject to the reservation of a royalty (the "Second Royalty"), which deed and royalty shall be in the form of the Quitclaim Deed and Reservation of Royalty attached hereto as Appendix B. Purchaser shall record the Quitclaim Deed in the official records of Mohave County immediately after the Closing and shall also file a copy thereof with the Arizona State Office of the Bureau of Land Management as a Notice of Transfer of Interest not more than 60 days after the Closing; and
	 	 
	(g)   	to the knowledge of the Vendor there are no outstanding agreements or options to acquire or purchase the Claims or any portion thereof or interest therein and, except for the First Royalty, no person holds any royalty or interest whatsoever in production or profits from the Claims or any portion thereof.

 

The representations and warranties herein shall apply to all assignments, conveyances, transfers and documents delivered in connection with this Purchase and Royalty Agreement and there shall be no merger of any representations and warranties in such assignments, conveyances, transfers and documents notwithstanding any rule of law, equity or statute to the contrary and all such rules are hereby waived. The Purchaser shall have the right to waive any representation and warranty made by the Vendor in the Purchaser's favor without prejudice to any of its recourses with respect to any other breach by the Vendor. All of the representations and warranties contained in this Purchase and Royalty Agreement shall survive the closing of this transaction.

 

	6.	Up to and including the Closing, the Vendor shall be responsible for making all payments required to maintain the Claims in good standing including, but not limited to, all rentals, levies, duties, royalties, assessments, fees, taxes or other governmental charges levied with respect to the Claims.

 

  

2

  

 

	
7.  

	
The Purchaser and its successors and assigns shall have the right, exercisable at any time, to reduce the Second Royalty from three percent (3%) to zero percent (0%) by paying to the Vendor the aggregate sum of US $1,500,000.00 (US $500,000.00 for each 1%). The Purchaser and its successors and assigns shall also have the right, exercisable at any time, to reduce the First Royalty in accordance with the terms of the First Royalty Agreement.

 

	
8.  

	
The Purchaser agrees to indemnify and save harmless the Vendor from and against all suits, claims, demands, losses and expenses that directly arise from the Purchaser's activities on the Claims. The Vendor hereby reciprocally indemnifies and saves harmless the Purchaser from and against all suits, claims, demands, losses and expenses that directly arise from the Vendor's activities on the Claims.

 

	
9.  

	
The Vendor represents that all available data (both relating to exploration and the interpretive results of exploration) and sampling relating to the Claims in the possession of or controlled by the Vendor has been delivered to the Purchaser. Vendor represents that to the best of its knowledge and belief the data is accurate and the interpretation made in good faith.

 

	
10.  

	
This Purchase and Royalty Agreement will become binding upon its execution by the parties; the parties may enter into a more formal purchase agreement, but until any such formal ageement is signed, the parties will be bound by the terms of this Purchase and Royalty Agreement.

 

	
11.  

	
The parties further agree that:

 

	
(a)  

	
Each of the parties hereby covenants and agrees to do or cause to be done all acts or things necessary to implement and carry into effect the provisions and intent of this Purchase and Royalty Agreement.

 

	
(b)  

	
The Purchase and Royalty Agreement is subject to the receipt of all requisite regulatory approvals.

 

	
(c)  

	
The representations, warranties and covenants in this Purchase and Royalty Agreement will survive any closing or advance of funds and, notwithstanding such closing or advances, will continue in full force and effect.

 

	
(d)  

	
Any notice required or permitted to be given or delivery required to be made to any party may be effectively given or delivered if it is delivered personally or by telecopy at the addresses or telephone numbers set out above or to such other address or telephone number as the party entitled to or receiving such notice may notify the other party as provided for herein. Delivery shall be deemed to have been received:

 

  

3

  

 

	
(i)  

	
the same day if given by personal service or if transmitted by fax; and

 

	
(ii)  

	
the fifth business day next following the day of posting if sent by regular post.

 

	
(e)   

	
This Purchase and Royalty Agreement will be governed by and be construed in accordance with the laws of the State of Arizona and applicable laws of the United States concerning unpatented lode mining claims. Any disputes between the parties shall be settled by arbitration under the terms of the Arbitration Provisions appended hereto as Appendix C.

 

	(f)   	This Purchase and Royalty Agreement will be binding upon and enure to the benefit of the parties hereto and their respective heirs and executors and successors and assigns as the case may be.

 

	
(g)  

	
This Purchase and Royalty Agreement constitutes the entire agreement between the parties and supersedes all prior letters of intent, agreements, representations, warranties, statements, promises, information, arrangements and understandings, whether oral or written, express or implied. The recitals and appendices form a part of and are incorporated by reference into this Purchase and Royalty Agreement.

 

	
(h)  

	
No modification or amendment to this Purchase and Royalty Agreement may be made unless agreed to by the parties thereto in writing.

 

	
(i)  

	
If any provision of this Purchase and Royalty Agreement will be deemed invalid or void, in whole or in part, by any court of competent jurisdiction, the remaining terms and provisions will remain in full force and effect.

 

	
(j)  

	Time is of the essence.
	 	 
	(k)  	This Purchase and Royalty Agreement may be executed in any number of counterparts with the same effect as if all parties to this Purchase and Royalty Agreement had signed the same document and all counterparts will be construed together and will constitute one and the same instrument and any facsimile signature shall be taken as an original.

 

Dated this 20 day of April, 2010.

 

	 PURCHASER:	 	 
	 	 	 
	 	GREEN ENERGY FIELDS, INC.	 
	 	 	 	 
	
 

	
By: 

	/s/ Joshua D. Bleak	 
	 	 	Authorized Signatory	 
	 	 	 	 
	 	 	 	 
	 VENDOR:	 	 	 
	 	 	 	 
	 	NPX METALS, INC.	 
	 	 	 	 
	 	By:	/s/ Daniel R. Bleak	 
	 	 	Authorized Signatory	 

 

  

4

  

 

APPENDIX A

DESCRIPTION OF CLAIMS

 

	
Line

No.

	
AMC

Number

	
Claim/Site Name

	
County Recorder

Data

	
SEC, TWP, RNG

	
1

	
374325

	
AP1

	
2006-102529

	
Sec 26, T12N, R13W

	
2

	
374326

	
AP2

	
2006-100277

	
Sec 26, T12N, R13W

	
3

	
374327

	
AP3

	
2006-100278

	
Sec 26, T12N, R13W

	
4

	
374328

	
AP4

	
2006-100279

	
Sec 26, T12N, R13W

	
5

	
374329

	
AP5

	
2006-100280

	
Sec 26, T12N, R13W

	
6

	
374330

	
AP6

	
2006-100281

	
Sec 26, T12N, R13W

	
7

	
374331

	
AP7

	
2006-100282

	
Sec 26, T12N, R13W

	
8

	
374332

	
AP8

	
2006-100283

	
Sec 26, T12N, R13W

	
9

	
374333

	
AP9

	
2006-100284

	
Sec 26&27, T12N, R13W

	
10

	
374334

	
AP10

	
2006-100285

	
Sec 26&27, T12N, R13W

	
11

	
374335

	
AP11

	
2006-100286

	
Sec 26, T12N, R13W

	
12

	
374336

	
AP12

	
2006-100287

	
Sec 26, T12N, R13W

	
13

	
374337

	
AP13

	
2006-100288

	
Sec 26, T12N, R13W

	
14

	
374338

	
AP14

	
2006-100289

	
Sec 26, T12N, R13W

	
15

	
374339

	
AP15

	
2006-100290

	
Sec 26, T12N, R13W

	
16

	
374340

	
AP16

	
2006-100291

	
Sec 26, T12N, R13W

	
17

	
374341

	
AP17

	
2006-100292

	
Sec 26, T12N, R13W

	
18

	
374342

	
AP18

	
2006-100293

	
Sec 26, T12N, R13W

	
19

	
374343

	
AP19

	
2006-100294

	
Sec 26, T12N, R13W

	
20

	
374344

	
AP20

	
2006-100295

	
Sec 26, T12N, RI 3W

	
21

	
374345

	
AP21

	
2006-100296

	
Sec 26, T12N, R13W

	
22

	
374346

	
AP22

	
2006-100297

	
Sec 26, T12N, Ri 3W

  

5

  

 

	
23

	
374347

	
AP23

	
2006-100298

	
Sec 26, T12N, R13W

	
24

	
374348

	
AP24

	
2006-100299

	
Sec 26, T12N, R13W

	
25

	
374349

	
AP25

	
2006-100300

	
Sec 26&27, T12N, R13W

	
26

	
374350

	
AP28

	
2006-100301

	
Sec 22&27, T12N, R13W

	
27

	
374351

	
AP29

	
2006-100302

	
Sec 22&27, T12N, R13W

	
28

	
374352

	
AP30

	
2006-100303

	
Sec 22&27, T12N, R13W

	
29

	
374353

	
AP31

	
2006-100304

	
Sec 22&27, T12N, R13W

	
30

	
374354

	
AP32

	
2006-100305

	
Sec 22&27, T12N, R13W

	
31

	
374355

	
AP33

	
2006-100306

	
Sec 22&27, T12N, R13W

	
32

	
374356

	
AP35

	
2006-100307

	
Sec 22, T12N, R13W

	
33

	
374357

	
AP36

	
2006-100308

	
Sec 22, T12N, R13W

	
34

	
374358

	
AP37

	
2006-100309

	
Sec 22, T12N, R13W

	
35

	
374359

	
AP38

	
2006-100310

	
Sec 22, T12N, R13W

	
36

	
374360

	
AP39

	
2006-100311

	
Sec 22,712N, R13W

	
37

	
374361

	
AP40

	
2006-100312

	
Sec 22, T12N, R13W

	
38

	
374362

	
AP41

	
2006-100313

	
Sec 22, T12N, R13W

	
39

	
374363

	
AP42

	
2006-100314

	
Sec 22, T12N, R13W

	
40

	
374364

	
AP43

	
2006-100315

	
Sec 22, T12N, R13W

	
41

	
374365

	
AP44

	
2006-100316

	
Sec 22, T12N, R13W

	
42

	
374366

	
AP45

	
2006-100317

	
Sec 22, T12N, R13W

	
43

	
374367

	
AP46

	
2006-100318

	
Sec 22, T12N, R13W

	
44

	
374368

	
AP47

	
2006-100319

	
Sec 22, T12N, R13W

	
45

	
374369

	
AP110

	
2006-100320

	
Sec 35, T12N, R13W

	
46

	
374370

	
AP111

	
2006-100321

	
Sec 35, T12N, R13W

	
47

	
374371

	
AP112

	
2006-100322

	
Sec 35, T12N, R13W

	
48

	
374372

	
AP113

	
2006-100323

	
Sec 35, T12N, R13W

  

6

  

 

	
49

	
374373

	
AP114

	
2006-100324

	
Sec 35, T12N, R13W

	
50

	
374374

	
AP115

	
2006-100325

	
Sec 35, T12N, R13W

	
51

	
374375

	
AP116

	
2006-100326

	
Sec 35, T12N, R13W

	
52

	
374376

	
AP117

	
2006-100327

	
Sec 35, T12N, R13W

	
53

	
374377

	
AP118

	
2006-100328

	
Sec 35, T12N, R13W

	
54

	
374378

	
AP119

	
2006-100329

	
Sec 35, T12N, R13W

	
55

	
374379

	
AP120

	
2006-100330

	
Sec 35, T12N, R13W

	
56

	
374380

	
AP121

	
2006-10033,1

	
Sec 35, T12N, R13W

	
57

	
374381

	
AP122

	
2006-100332

	
Sec 27, T12N, R13W

	
58

	
374382

	
AP123

	
2006-100333

	
Sec 27, T12N, R13W

	
59

	
374383

	
AP124

	
2006-100334

	
Sec 27, T12N, R13W

	
60

	
374384

	
AP125

	
2006-100335

	
Sec 27, T12N, R13W

	
61

	
374385

	
AP126

	
2006-100336

	
Sec 27, T12N, R13W

	
62

	
374386

	
AP127

	
2006-100337

	
Sec 27, T12N, R13W

	
63

	
374387

	
AP128

	
2006-100338

	
Sec 27, T12N, R13W

	
64

	
374388

	
AP129

	
2006-100339

	
Sec 27, T12N, R13W

	
65

	
374389

	
AP130

	
2006-100340

	
Sec 27, T12N, R13W

	
66

	
374390

	
SM48

	
2006-100341

	
Sec 22, T12N, R13W

	
67

	
374391

	
SM49

	
2006-100342

	
Sec 22, T12N, R13W

	
68

	
374392

	
SM50

	
2006-100343

	
Sec 22, T12N, R13W

	
69

	
374393

	
SM51

	
2006-100344

	
Sec 22, T12N, R13W

	
70

	
374394

	
SM52

	
2006-100345

	
Sec 22, T12N, R13W

	
71

	
374395

	
SM53

	
2006-100346

	
Sec 36, T12N, R13W

	
72

	
374396

	
SM54

	
2006-100347

	
Sec 36, T12N, R13W

	
73

	
374397

	
SM55

	
2006-100348

	
Sec 36, T12N, R13W

	
74

	
374398

	
SM56

	
2006-100349

	
Sec 36, T12N, R13W

  

7

  

 

	
75

	
374399

	
SP1

	
2006-100350

	
Sec 35, T12N, R13W

	
76

	
374400

	
SP2

	
2006-100351

	
Sec 35, T12N, R13W

	
77

	
374401

	
SP3

	
2006-100352

	
Sec 35, T12N, R13W

	
78

	
374402

	
SP4

	
2006-100353

	
Sec 35, T12N, R13W

	
79

	
374403

	
SP5

	
2006-100354

	
Sec 35, T12N, R13W

	
80

	
374404

	
SP6

	
2006-100355

	
Sec 35, T12N, WSW

	
81

	
374405

	
SP7

	
2006-100356

	
Sec 35, T12N, R13W

	
82

	
374406

	
SP8

	
2006-100357

	
Sec 35, T12N, R13W

	
83

	
374407

	
SP9

	
2006-100358

	
Sec 35, TI2N, R13W

	
84

	
374408

	
SPIO

	
2006-100359

	
Sec 35, T12N, R13W

	
85

	
374409

	
SP11

	
2006-100360

	
Sec 35, T12N, R13W

	
86

	
374410

	
SP12

	
2006-100361

	
Sec 35, T12N, R13W

 

  

8

  

 

APPENDIX C

 

ARBITRATION PROVISIONS

 

I.     PURPOSE.

 

The following procedures and substantive matters shall be followed to resolve disputes arising under or relating to the Agreement, including but not limited to allegations that the Agreement has been terminated.

 

II.    DEFINITIONS.

 

For purposes of these Arbitration Provisions capitalized words and phrases defined in the Agreement shall have the same meaning herein, unless otherwise defined in these Arbitration Provisions.

 

	 	A.	"Agreement" shall mean the agreement to which these Arbitration Provisions are appended.
	 	 	 
	 	B.	"AAA" shall mean the American Arbitration Association.
	 	 	 
	 	C.	"Arbitration Rules" shall mean the Commercial Arbitration Rules of the AAA.
	 	 	 
	 	D.	"Agreement Date" shall mean the date stated as the date of the Agreement.
	 	 	 
	 	E.	"Party" or "Parties" means a party to the Agreement who is a Claimant or Respondent.
	 	 	 
	 	F.	"Claimant" shall have the meaning given in Section III.b of these Arbitration Provisions.
	 	 	 
	 	G.	"Respondent" shall have the meaning given in Section III.b of these Arbitration Provisions.

 

III.   ARBITRATION.

 

a.   Resolution of Disputes. Any dispute, controversy or claim arising out of or relating to the Agreement or the subject matter of the Agreement, or the breach, termination, or invalidity of the Agreement, shall be settled by binding arbitration in accordance with the Commercial Arbitration Rules of the AAA in effect on the Agreement Date, except as otherwise provided herein.

 

b.   Appointment of Arbitrator(s). There shall be one arbitrator appointed by the Parties. If the Parties fail to agree on a single arbitrator within 20 days after arbitration is initiated, there shall be three arbitrators, each of whom shall be disinterested in the dispute, controversy or claim and shall have no connection with any Party. The Party initiating arbitration ("Claimant") and the Party named as respondent ("Respondent") shall each name an arbitrator in the manner provided by the Commercial Arbitration Rules specified above. Such arbitrators shall, by their agreement, select the third arbitrator. Should the services of an appointment or administering authority be necessary, the appointment or administering authority shall be the AAA. If any Party entitled to name an arbitrator should abstain from doing so, the AAA shall appoint such arbitrator.

 

  

9

  

 

c.   Procedure. The place of arbitration shall be in Phoenix, Arizona, unless otherwise agreed by the Parties. The arbitrator(s) shall apply the law as made applicable by the Agreement. Unless the procedure for discovery is otherwise agreed to by the Parties, the arbitrator or arbitrators, at the request of a Party, may establish rules for pre hearing discovery which shall comport with due process, expeditious determination of the issues and fairness. Unless otherwise agreed by the Parties, the depositions of no more than two witnesses on each side may be taken without the consent of the arbitrator(s). The Federal Rules of Civil Procedure shall govern all aspects of the depositions, including admissibility.

 

d.   Award. If more than one arbitrator has been appointed, the decision in the arbitration shall be adopted by majority vote. The decision in the arbitration shall be rendered, unless otherwise agreed by the Parties, no later than 30 days after the date the hearings were closed. The decision of the arbitrator(s) shall be in writing, shall be signed at least by the arbitrators casting the majority vote or by the sole arbitrator, as the case may be, and shall be final and binding on the Parties. If the Parties settle the dispute in the course of arbitration, such settlement shall be approved by the arbitrator(s) on request of either Party and become the award.

 

 

10

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