Document:

REGISTRATION RIGHTS AGREEMENT FOR "T" COMMON STOCK

 

 EXHIBIT 10.28

 

REGISTRATION RIGHTS AGREEMENT

 

        This Agreement is made as of August 2, 2000 by and among BIOJECT MEDICAL TECHNOLOGIES INC., an Oregon corporation (the
“Corporation”), and H.C. Wainwright & Co., Inc. (“Wainwright”).

 

RECITALS

 

        Simultaneously herewith, the Corporation has issued a Series “T” Common Stock Purchase Warrant to Wainwright
to purchase up to an aggregate of 15,000 shares of the Corporation’s Common Stock (the “Warrants”).

 

AGREEMENT

 

        NOW, THEREFORE, it is hereby agreed as follows:

 

1.    Certain Definitions

 

        As used in this Agreement, the following terms shall have the following respective meanings:

 

		         “Common Stock” shall mean shares of common stock, without
par value, of the Corporation.

 

		         “Commission” shall mean the Securities and Exchange
Commission.

 

		         “Holder” shall mean the holders of Registrable Securities
and any person holding such securities to whom the rights under this Agreement have been transferred in accordance with Section 2.8 hereof.

 

		         “Registrable Securities” means (i) all shares of the
Corporation’s Common Stock acquired upon exercise of the Series “T” Warrants (the “Shares”), and (ii) any Common Stock or other securities of the Corporation issued or issuable with respect to, or in exchange for or in
replacement of the Shares or such additional shares upon any stock split, stock dividend, recapitalization, or similar event; provided, however, that shares of Common Stock or other securities shall only be treated as Registrable Securities for the
purposes of Section 2 hereof if and so long as they have not been sold pursuant to Rule 144 under the Securities Act or pursuant to an effective Registration Statement under the Securities Act, or otherwise to or through a broker or dealer or
underwriter in a public distribution or a public securities transaction.

 

		         The terms “register,” “registered” and
“registration” refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of the effectiveness of such registration statement.

 

		         “Registration Expenses” shall mean all expenses, except as
otherwise stated below, incurred by the Corporation in complying with Section 2 hereof, including, without limitation, all registration, qualification and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the
Corporation and one special counsel to the selling Holders, blue sky fees and expenses, fees to Nasdaq to list the Shares or American Stock Transfer and Trust Company to issue the Shares, and the expense of any special audits incident to or required
by any such registration.

 

		         “Securities Act” shall mean the Securities Act of 1933, as
amended, or any similar federal statute and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time.

 

		         “Selling Expenses” shall mean all underwriting discounts,
selling commissions and stock transfer taxes applicable to the securities registered by the selling Holders and any other expenses that are not Registration Expenses and that are incurred by the selling Holders.

 

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 2.    Registration Rights

 

        2.1    Company Registration

 

		         (a)    Notice of Registration.  
  If at any time or from time to time the Corporation shall determine to register any of its securities, either for its own account or the account of a security holder or holders, other than a registration relating solely to employee
benefit plans or a registration relating solely to a Commission Rule 145 transaction, the Corporation will:

 

		         (i)    promptly give to each Holder written notice
thereof; and

 

		         (ii)    subject to Section 2.1(b), include in such
registration (and any related qualification under blue sky laws or other compliance), and in any underwriting involved therein, all the Registrable Securities specified in a written request or requests made within 20 days after receipt of such
written notice from the Corporation, by any Holder.

 

		         (b)    Underwriting.    If the
registration of which the Corporation gives notice is for a registered public offering involving an underwriting, the Corporation shall so advise the Holders as a part of the written notice given pursuant to Section 2.1(a) hereof. In such event the
right of any Holder to registration pursuant to this Section 2.1 shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of Registrable Securities in the underwriting to the extent provided herein. All
Holders proposing to distribute their securities through such underwriting shall (together with the Corporation) enter into an underwriting agreement in customary form with the managing underwriter selected for such underwriting by the Corporation.
Notwithstanding any other provision of this Section 2.1, if the managing underwriter determines that marketing factors require a limitation of the number of shares to be underwritten, the managing underwriter may limit the Registrable Securities and
other securities to be distributed through such underwriting for the account of the requesting Holders (including persons other than Holders with registration rights relating to the Corporation’s Common Stock who have requested to participate
in the underwritten offering (“Other Holders”)) to 20% of the total number of shares to be distributed. The Corporation shall so advise all Holders distributing their securities through such underwriting of such limitations and the number
of shares of Registrable Securities, if any, that may be included in the registration (and underwriting, if any) shall be allocated among all Holders (including the Other Holders) in proportion, as nearly as practicable, to the respective amounts of
Registrable Securities and securities held by the Other Holders requested by such persons to be included in such Registration Statement. To facilitate the allocation of shares in accordance with the above provisions, the Corporation may round the
number of shares allocated to any Holder or holder to the nearest 100 shares.

 

		         (c)    Right to Terminate Registration. 
   The Corporation shall have the right to terminate or withdraw any registration initiated by it under this Section 2.1 prior to the effectiveness of such registration whether or not any Holder has elected to include securities in
such registration. The Registration Expenses of such withdrawn registration shall be borne by the Corporation in accordance with Section 2.3 hereof.

 

        2.2    Demand Registration

 

		         (a)    Any Holder holding a majority of Registrable
Securities may request registration of such Registrable Securities. Upon receipt of such request (specifying that it is being made pursuant to this Section 2.2(a)), the Corporation shall use its best efforts to file within ninety (90) days of such
receipt a registration statement on Form S-3 for the resale of the Registrable Securities and shall use its best efforts to cause such registration statement to become effective as expeditiously as reasonably practical. The Corporation shall be
obligated to prepare, file and cause to be effective only one registration statement pursuant to this Section 2.2(a). The Corporation shall be obligated to prepare, file and cause to be effective only two registration statements pursuant to this
Section 2.2(a).

 

		         Upon the receipt of such request, the Corporation shall:

 

		         (i)    promptly give to each remaining Holder written
notice that a registration is to be effected; and

 

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		          (ii)    include in such registration (and any related
qualification under blue sky laws or other compliance) all the Registrable Securities specified in a written request or requests made within 20 days after such written notice was sent by the Corporation, by any Holder.

 

		         Further, the Corporation shall use all reasonable efforts to cause such
registration to be a non-underwritten shelf registration pursuant to Rule 415 under the Securities Act and to cause such shelf registration to be maintained effective for at least two (2) years.

 

		         (b)    Notwithstanding the foregoing, the Corporation
shall not be obligated to take any action pursuant to this Section 2.2: (i) in any particular jurisdiction in which the Corporation would be required to execute a general consent to service of process in effecting such registration, qualification or
compliance unless the Corporation is already subject to service in such jurisdiction and except as may be required by the Securities Act; or (ii) if the Corporation shall furnish to the Holders a certificate signed by the Chairman or President of
the Corporation stating that the Corporation has reasonably determined that it should postpone for a specified period of time not to exceed 120 days in the case of clause (A) below, or 45 days in the case of clause (B) below (each, a “Blackout
Period”), any action pursuant to this Section, including, without limitation, the preparation and/or filing of a registration statement or prospectus or any amendments or supplements to any registration statement or prospectus, because any such
filing would (A) materially impede, delay or otherwise interfere with an offer or sale of securities, acquisition, corporate reorganization or other significant transaction involving the Corporation, or (B) require disclosure of material information
(other than an event described in clause (A) above) which, if disclosed at that time, would be materially harmful to the interests of the Corporation and its shareholders. Upon delivery of such a certificate to the Holders by the Corporation, each
of the Holders covenants that he shall (X) keep the fact of the notice strictly confidential, (Y) promptly halt any offer, sale, trading or transfer by him and his affiliates of any Common Stock for the duration of the Blackout Period set forth in
the certificate or until the Blackout Period is earlier terminated by the Corporation and (Z) promptly halt any use or distribution of the registration statement and prospectus by him and his affiliates for the duration of the Blackout Period or
until such Blackout Period is earlier terminated by the Corporation. The Corporation shall not be entitled to deliver a certificate and impose a Blackout Period pursuant to Clause A more than once in any twelve month period.

 

        2.3    Expenses of Registration

 

		         All Registration Expenses incurred in connection with registration pursuant
to Section 2.1 and the first registration pursuant to Section 2.2 shall be borne by the Corporation. All Registration Expenses incurred in connection with the second registration pursuant to Section 2.2 shall be borne by the Holder(s) participating
in such registration. All Selling Expenses relating to securities registered on behalf of the Holders shall be borne by the Holders of securities included in such registration pro rata, severally and not jointly, among each other on the basis of the
number of shares so registered.

 

        2.4    Registration Procedures

 

		         In the case of each registration effected by the Corporation pursuant to this
Section 2, the Corporation will keep each Holder advised in writing as to the initiation of each registration and as to the completion thereof. At its expense the Corporation will:

 

		         (a)    Prepare and file with the Commission a
registration statement with respect to such securities and use its best efforts to cause such registration statement to become and remain effective for at least two (2) years or, if earlier, until the distribution described in the registration
statement has been completed;

 

		         (b)    Prepare and file with the Commission during the
period specified in Section 2.4(a) such amendments and supplements to such registration statement and the prospectus used in connection with

 

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		  such registration statement as may be necessary to comply with the provisions of the Securities Act with respect to the
disposition of all securities covered by such registration statement;

 

		         (c)    Furnish to the Holders participating in such
registration and to the underwriters of the securities being registered such reasonable number of copies of the registration statement, preliminary prospectus, final prospectus and such other documents as the Holders and such underwriters may
reasonably request in order to facilitate the public offering of such securities;

 

		         (d)    Furnish, at the request of any Holder requesting
registration of Registrable Securities at the time such securities are delivered to the underwriters (if any) for sale in connection with a registration pursuant to this Section 2, (i) an opinion, dated such date, of the counsel representing the
Corporation for the purposes of such registration, in form and substance as is customarily given to underwriters in an underwritten public offering, addressed to the underwriters and to the Holders requesting registration of Registrable Securities
and (ii) a letter dated the date of commencement of the offering and a “bring-down” letter dated as of the closing date of such offering, from the independent accountants of the Corporation, in form and substance as is customarily given by
independent accountants to underwriters in an underwritten public offering, addressed to the underwriters, if any, and to the Holders requesting registration of Registrable Securities.

 

        2.5    Indemnification

 

		         (a)    The Corporation will indemnify each Holder and
each person controlling such Holder within the meaning of Section 15 of the Securities Act, with respect to which registration has been effected pursuant to this Section 2, and each underwriter, if any, and each person who controls any underwriter
within the meaning of Section 15 of the Securities Act, against all expenses, claims, losses, damages or liabilities (or actions in respect thereof), including any of the foregoing incurred in settlement of any litigation, commenced or threatened,
arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any registration statement, prospectus, offering circular or other document, or any amendment or supplement thereto, incident to any such
registration, qualification or compliance, or based on any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were
made, not misleading, or any violation by the Corporation of the Securities Act or any other applicable federal and state securities laws or any rules or regulations promulgated thereunder in connection with any such registration, qualification or
compliance, and the Corporation will reimburse each such Holder, each of its officers, directors, partners, and legal counsel and each person controlling such Holder, each such underwriter and each person who controls any such underwriter, for any
legal and any other expenses reasonably incurred in connection with investigating, preparing or defending any such claim, loss, damage, liability or action, provided that the Corporation will not be liable in any such case to the extent that any
such claim, loss, damage, liability or expense arises out of or is based on any untrue statement or omission or alleged untrue statement or omission, made in reliance upon and in conformity with written information furnished to the Corporation by
such Holder, controlling person or underwriter and stated to be specifically for use therein.

 

		         (b)    Each Holder will, if Registrable Securities held
by such Holder are included in the securities as to which such registration, qualification or compliance is being effected, indemnify the Corporation, each of its directors and officers, each underwriter, if any, of the Corporation’s securities
covered by such a registration statement, each person who controls the Corporation or such underwriter within the meaning of Section 15 of the Securities Act, and each other Holder, each of its officers and directors, and each person controlling
such Holder within the meaning of Section 15 of the Securities Act, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or based on any untrue statement (or alleged untrue statement) of a material fact
contained in any such registration statement, prospectus, offering circular or other document, or any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein not
misleading, and will reimburse the

 

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		  Corporation, such Holders, and such directors, officers, underwriters or control persons for any legal or any other expenses
reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability or action, in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged
omission) is made in such registration statement, prospectus, offering circular or other document in reliance upon and in conformity with written information furnished to the Corporation by such Holder and stated to be specifically for use therein.
Notwithstanding the foregoing, the liability of each Holder under this subsection (b) shall be limited to the proportion of any such loss, claim, damage, liability or expense which is equal to the proportion that the public offering price of the
shares sold by such Holder under such registration statement bears to the total public offering price of all securities sold thereunder, but not to exceed the proceeds received by such Holder from the sale of Registrable Securities covered by such
registration statement.

 

		         (c)    Each party entitled to indemnification under this
Section 2.5 (the “Indemnified Party”) shall give notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity may
be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct the defense of such claim or litigation resulting
therefrom, shall be approved by the Indemnified Party (whose approval shall not unreasonably be withheld), and the Indemnified Party may participate in such defense at such party’s expense, and provided further that the failure of any
Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Section 2 unless the failure to give such notice is materially prejudicial to an Indemnifying Party’s ability to defend
such action and provided further, that the Indemnifying Party shall not assume the defense for matters as to which there is a conflict of interest or separate and different defenses but shall bear the expense of such defense nevertheless. Each
Indemnified Party shall furnish such information regarding itself or the claim in question as an Indemnifying Party may reasonably request in writing and as shall be reasonably required in connection with the defense of such claim and litigation
resulting therefrom. No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party, consent to entry of any judgment or enter into any settlement which does not include as an
unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim or litigation. Notwithstanding the other provisions of this Agreement, no Indemnifying Party shall
be obligated to indemnify any Indemnified Party for amounts paid by the Indemnified Party in settlement of any loss, claim, damage, liability or action if such settlement is effected without the consent of the Indemnifying Party (which consent has
not been unreasonably withheld).

 

		         (d)    If the indemnification provided for in paragraphs
(a) through (c) of this Section 2.5 is unavailable or insufficient to hold harmless an Indemnified Party under such paragraphs in respect of any losses, claims, damages, liabilities, expenses or actions in respect thereof referred to therein, then
each Indemnifying Party shall in lieu of indemnifying such Indemnified Party contribute to the amount paid or payable by such Indemnified Party as a result of such losses, claims, damages, liabilities or actions in such proportion as appropriate to
reflect the relative fault of the Corporation, the underwriters, and the Holder of such Registrable Securities, respectively, in connection with the statements or omissions which resulted in such losses, claims, damage, liabilities, expenses or
actions in respect thereof as well as any other relevant equitable considerations, including the failure to give any notice under paragraph (c). The relative fault shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact relates to information supplied by the Corporation, on the one hand, or the underwriters or the Holders of such Registrable Securities, on the other, and to the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or omission. The Corporation and each of the Holders agrees that it would not be just and equitable if contributions pursuant to this paragraph were determined by pro
rata allocation (even if all of the Holders of such Registrable Securities were treated as one entity for such purpose) or by any other method of allocation which did not take account of the equitable considerations referred to above in this
paragraph. The amount paid or payable by an indemnified party as a

 

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		  result of the losses, claims, damages, liabilities or action in respect thereof, referred to above in this paragraph, shall
be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this paragraph, no Holder shall be required to
contribute any amount in excess of the lesser of (i) the proportion that the public offering price of shares sold by such Holder under such registration statement bears to the total public offering price of all securities sold thereunder, but not to
exceed the proceeds received by such Holder for the sale of Registrable Securities covered by such registration statement and (ii) the amount of any damages which they would have otherwise been required to pay by reason of such untrue or alleged
untrue statement or omission. No person guilty of fraudulent misrepresentations (within the meaning of Section 11(f) of the Securities Act), shall be entitled to contribution from any person who is not guilty of such fraudulent
misrepresentation.

 

		         (e)    Notwithstanding the foregoing, to the extent that
the provisions on indemnification and contribution contained in the underwriting agreement (if any) entered into in connection with an underwritten public offering of the Registrable Securities are in conflict with the foregoing provisions, the
provisions in such underwriting agreement shall control.

 

        2.6    Information by Holder

 

		         The Holder or Holders of Registrable Securities included in any registration
shall furnish to the Corporation such information regarding such Holder or Holders, the Registrable Securities held by them and the distribution proposed by such Holder or Holders as the Corporation may reasonably request in writing and as shall be
required in connection with any registration, qualification or compliance referred to in this Section 2.

 

        2.7    Rule 144 Reporting

 

		         With a view to making available the benefits of certain rules and regulations
of the Commission which may at any time permit the sale of the Registrable Securities to the public without registration, the Corporation agrees to use its best efforts to:

 

		         (a)    At all times make and keep public information
available, as those terms are understood and defined in Rule 144 under the Securities Act;

 

		         (b)    File with the Commission in a timely manner all
reports and other documents required of the Corporation under the Securities Act and the Securities Exchange Act of 1934, as amended;

 

		         (c)    So long as a Holder owns any Registrable
Securities to furnish to the Holder forthwith upon request a written statement by the Corporation as to its compliance with the reporting requirements of said Rule 144, and of the Securities Act and the Securities Exchange Act of 1934, a copy of the
most recent annual or quarterly report of the Corporation, and such other reports and documents of the Corporation and other information in the possession of or reasonably obtainable by the Corporation as a Holder may reasonably request in availing
itself of any rule or regulation of the Commission allowing a Holder to sell any such securities without registration.

 

        2.8    Transfer of Registration Rights

 

		         The rights to cause the Corporation to register securities granted to Holders
under this Section 2 may be assigned (a) to a transferee or assignee in connection with any transfer or assignment of Registrable Securities by a Holder of not less than 20,000 shares of Registrable Securities (as presently constituted and subject
to subsequent adjustments for stock splits, stock dividends, reverse stock splits, and the like), or (b) to the estate of a Holder, provided in each case that such transfer may otherwise be effected in accordance with applicable securities laws and
written notice of the transfer is given to the Corporation at the time of or within a reasonable time after such transfer or assignment, stating the name and address of

 

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		  the transferee or assignee and identifying the Registrable Securities with respect to which such registration rights are
being transferred or assigned, and provided, further, that the transferee or assignee of such rights agrees in writing to be bound by the terms of this Agreement as if such transferee were a party hereto.

 

        2.9    Standoff Agreement

 

		         Each Holder agrees, in connection with registered public offerings of the
Corporation’s securities for the account of the Corporation, upon request of the Corporation or the underwriters managing any underwritten offering of the Corporation’s securities, not to sell, make any short sale of or otherwise dispose
of any Registrable Securities (other than those included in the registration) without the prior written consent of the Corporation or such underwriters, as the case may be, for such period of time (not to exceed 120 days in the case of other public
offerings) from the effective date of such registration as may be requested by the underwriters, provided, that the officers and directors of the Corporation who own stock of the Corporation also agree to such restrictions.

 

        2.10    Termination of Registration Rights

 

		         The rights granted under this Section 2 shall terminate one (1) year from the
later of the exercise in full or termination of the Warrants.

 

        2.11    Delay of Registration

 

		         No Holder or Holders shall have any right to take any action to restrain,
enjoin, or otherwise delay any registration as a result of any controversy that might arise with respect to the interpretation or implementation of this Section 2.

 

        2.12    Use of Form S-3

 

		         With a view to maintaining its eligibility to use Form S-3, the Corporation
agrees to use its best efforts to file with the Commission in a timely manner (i) all the material required to be filed pursuant to Sections 13, 14 or 15(d) of the Securities Exchange Act of 1934, as amended, and (ii) all reports and other documents
required to be filed by the Corporation under the Securities Act and the Securities Exchange Act of 1934, as amended; provided, however, that there can be no assurance that the Corporation will remain eligible for use of Form S-3 or that any Form
S-3 filed by the Corporation with respect to the Registrable Securities will be declared effective.

 

3.    Miscellaneous

 

        3.1    Waivers and Amendments

 

		         With the written consent of both the Corporation and Holders of a majority of
outstanding Registrable Securities originally acquired by Wainwright then held by Holders (voting together as a class), the obligations of the Corporation and the rights of such Holders of Registrable Securities under this Agreement may be waived
(either generally or in a particular instance, and either for a specified period of time or indefinitely), and with the same consent the Corporation, when authorized by resolution of its Board of Directors, may enter into a supplementary agreement
for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Agreement. Neither this Agreement nor any provisions hereof may be changed, waived, discharged or terminated orally, other than by a
signed statement in writing.

 

        3.2    Governing Law

 

		         This Agreement shall be governed in all respects by the laws of the State of
Oregon as such laws are applied to agreements between Oregon residents entered into and to be performed entirely within Oregon.

 

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         3.3    Successors and Assigns

 

		         Except as otherwise expressly provided 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.

 

        3.4    Entire Agreement

 

		         This Agreement constitutes the full and entire understanding and agreement
between the parties with regard to the subjects hereof.

 

        3.5    Notices

 

		         All notices and other communications required or permitted hereunder shall be
effective upon receipt and shall be in writing and may be delivered in person, by telecopy, electronic mail, overnight delivery service or U.S. mail, in which event it may be mailed by first class, postage prepaid, addressed (a) if to Wainwright, at
the address set forth on the signature page hereto, or at such other address as the Holder shall have furnished to the Corporation, or (b) if to the Corporation, at 7620 SW Bridgeport Road, Portland, Oregon 97224, Attention: President, or at such
other address as shall have furnished to the Holders in writing. Notwithstanding the foregoing, all notices and communications to addresses outside the United States shall be given by telecopier and confirmed in writing sent by overnight or two-day
courier service.

 

        3.6    Titles and Subtitles

 

		         The titles of the paragraphs and subparagraphs of this Agreement are for
convenience of reference only and are not to be considered in construing this Agreement.

 

        3.7    Litigation; Prevailing Party

 

		         In the event of any litigation between the Corporation and Wainwright with
regard to this Agreement, the prevailing party shall be entitled to reimbursement from the nonprevailing party for all reasonable fees and expenses of counsel for the prevailing party.

 

        3.8    Nominees

 

		         Securities registered in the name of a nominee for a Holder shall, for
purposes of this Agreement, be treated as being owned by such Holder.

 

        3.9    Counterparts

 

		         This Agreement may be executed in any number of counterparts, each of which
shall be an original, but all of which together shall constitute one instrument. Delivery of a signed counterpart by and between telephone facsimile transmission shall between effective as delivery of a manually signed counterpart of this
Agreement.

 

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         IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date set forth
above.

 

		 BIOJECT MEDICAL TECHNOLOGIES INC.

 

 

		 By: 

		 Name: James C. O’Shea

		 Title: President and CEO

 

		 H.C. WAINWRIGHT & CO., INC.

 

 

		 By: 

 

 

		 Name: 

 

 

		 Title: 

 

	     

		 Address:

		 One Boston Place

Boston MA 02108

Attn: General Counsel

	

 

		 Telecopy: (617) 788-9520

 

9FORM OF SERIES "U" COMMON STOCK PURCHASE WARRANT

 

 EXHIBIT 10.29

 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY APPLICABLE STATE LAWS, AND
NO INTEREST THEREIN MAY BE SOLD, DISTRIBUTED, ASSIGNED, OFFERED, PLEDGED OR OTHERWISE TRANSFERRED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS COVERING ANY SUCH TRANSACTION OR SUCH
TRANSACTION IS EXEMPT FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND LAWS, SUCH COMPLIANCE, AT THE OPTION OF THE CORPORATION, TO BE EVIDENCED BY AN OPINION OF WARRANTHOLDER’S COUNSEL, IN FORM ACCEPTABLE TO THE CORPORATION, THAT NO VIOLATION
OF SUCH REGISTRATION PROVISIONS WOULD RESULT FROM ANY PROPOSED TRANSFER OR ASSIGNMENT.

 

SERIES “U” COMMON STOCK PURCHASE WARRANT

 

Bioject Medical Technologies Inc.

 

        THIS CERTIFIES that for good and valuable consideration received, MEDAcorp, Inc., or registered assigns, is entitled,
upon the terms and subject to the conditions hereinafter set forth, to acquire from Bioject Medical Technologies Inc., an Oregon corporation (the “Corporation”) up to 10,000 fully paid and nonassessable shares of common stock, without par
value, of the Corporation (“Warrant Stock”) at a purchase price per share (the “Exercise Price”) of $6.45.

 

1.    Term of Warrant

 

        Subject to the terms and conditions set forth herein, this Warrant shall be exercisable, in whole or from time to time
in part, at any time on or after the date hereof and at or prior to 11:59 p.m., Pacific time, on November 22, 2003 (the “Expiration Time”).

 

2.    Exercise of Warrant

 

        The purchase rights represented by this Warrant are exercisable by the registered holder hereof, in whole or in part, at
any time and from time to time at or prior to the Expiration Time by the surrender of this Warrant and the Notice of Exercise form attached hereto duly executed to the office of the Corporation at 7620 S.W. Bridgeport Road, Portland, Oregon 97224
(or such other office or agency of the Corporation as it may designate by notice in writing to the registered holder hereof at the address of such holder appearing on the books of the Corporation), and upon payment of the Exercise Price for the
shares thereby purchased (by cash or by check or bank draft payable to the order of the Corporation or by cancellation of indebtedness of the Corporation to the holder hereof, if any, at the time of exercise in an amount equal to the purchase price
of the shares thereby purchased); whereupon the holder of this Warrant shall be entitled to receive from the Corporation a stock certificate in proper form representing the number of shares of Warrant Stock so purchased.

 

3.    Issuance of Shares; No Fractional Shares of Scrip

 

        Certificates for shares purchased hereunder shall be delivered to the holder hereof by the Corporation’s transfer
agent at the Corporation’s expense within a reasonable time after the date on which this Warrant shall have been exercised in accordance with the terms hereof. Each certificate so delivered shall be in such denominations as may be requested by
the holder hereof and shall be registered in the name of such holder or, subject to applicable laws, other name as shall be requested by such holder. If, upon exercise of this Warrant, fewer than all of the shares of Warrant Stock evidenced by this
Warrant are purchased prior to the Expiration Time, one or more new warrants substantially in the form of, and on the terms in, this Warrant will be issued for the remaining number of shares of Warrant Stock not purchased upon exercise of this
Warrant. The Corporation

 

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 hereby represents and warrants that all shares of Warrant Stock which may be issued upon the exercise of this Warrant will, upon such exercise, be duly and validly
authorized and issued, fully paid and nonassessable and free from all taxes, liens and charges in respect of the issuance thereof (other than liens or charges created by or imposed upon the holder of the Warrant Stock). The Corporation agrees that
the shares so issued shall be and be deemed to be issued to such holder as the record owner of such shares as of the close of business on the date on which this Warrant shall have been surrendered for exercise in accordance with the terms hereof. No
fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. With respect to any fraction of a share called for upon the exercise of this Warrant, an amount equal to such fraction multiplied by the
then current price at which each share may be purchased hereunder shall be paid in cash to the holder of this Warrant.

 

4.    Charges, Taxes and Expenses

 

        Issuance of certificates for shares of Warrant Stock upon the exercise of this Warrant shall be made without charge to
the holder hereof for any issue or transfer tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Corporation, and such certificates shall be issued in the name of the
holder of this Warrant or in such name or names as may be directed by the holder of this Warrant; provided, however, that in the event certificates for shares of Warrant Stock are to be issued in a name other than the name of the holder of
this Warrant, this Warrant when surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the holder hereof.

 

5.    No Rights as Shareholders

 

        This Warrant does not entitle the holder hereof to any voting rights or other rights as a shareholder of the Corporation
prior to the exercise hereof.

 

6.    Registration Rights

 

        This Warrant is a Series “U” Warrant identified in the Registration Rights Agreement dated as of November 22,
2000 between the Corporation and the parties listed on the signature pages thereto. A transferee of this Warrant may become a “Holder” as defined in such agreement upon compliance with the requirements of such agreement.

 

7.    Exchange and Registry of Warrant

 

        This Warrant is exchangeable, upon the surrender hereof by the registered holder at the above-mentioned office or agency
of the Corporation, for a new Warrant of like tenor and dated as of such exchange. The Corporation shall maintain at the above-mentioned office or agency a registry showing the name and address of the registered holder of this Warrant. This Warrant
may be surrendered for exchange, transfer or exercise, in accordance with its terms, at such office or agency of the Corporation, and the Corporation shall be entitled to rely in all respects, prior to written notice to the contrary, upon such
registry.

 

8.    Loss, Theft, Destruction or Mutilation of Warrant

 

        Upon receipt by the Corporation of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation
of this Warrant, and in case of loss, theft or destruction of indemnity or security reasonably satisfactory to it, and upon reimbursement to the Corporation of all reasonable expenses incidental thereto, and upon surrender and cancellation of this
Warrant, if mutilated, the Corporation will make and deliver a new Warrant of like tenor and dated as of such cancellation, in lieu of this Warrant.

 

9.    Saturdays, Sundays and Holidays

 

        If the last or appointed day for the taking of any action or the expiration of any right required or granted herein
shall be a Saturday or a Sunday or shall be a legal holiday, then such action may be taken or such right may be exercised on the next succeeding day not a Saturday, Sunday or legal holiday.

 

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 10.    Merger, Sale of Assets, Etc.

 

        If at any time the Corporation proposes to merge or consolidate with or into any other corporation, effect any
reorganization, or sell or convey all or substantially all of its assets to any other entity, then, as a condition of such reorganization, consolidation, merger, sale or conveyance, the Corporation or its successor, as the case may be, shall enter
into a supplemental agreement to make lawful and adequate provision whereby the holder shall have the right to receive, upon exercise of the Warrant, the kind and amount of equity securities which would have been received upon such reorganization,
consolidation, merger, sale or conveyance by a holder of a number of shares of common stock equal to the number of shares issuable upon exercise of the Warrant immediately prior to such reorganization, consolidation, merger, sale or conveyance. If
the property to be received upon such reorganization, consolidation, merger, sale or conveyance is not equity securities, the Corporation shall give the holder of this Warrant ten (10) business days prior written notice of the proposed effective
date of such transaction, and if this Warrant has not been exercised by or on the effective date of such transaction, it shall terminate.

 

11.    Subdivision, Combination, Reclassification, Conversion, Etc.

 

        If the Corporation at any time shall, by subdivision, combination, reclassification of securities or otherwise, change
the Warrant Stock into the same or a different number of securities of any class or classes, this Warrant shall thereafter entitle the holder to acquire such number and kind of securities as would have been issuable in respect of the Warrant Stock
(or other securities which were subject to the purchase rights under this Warrant immediately prior to such subdivision, combination, reclassification or other change) as the result of such change if this Warrant had been exercised in full for cash
immediately prior to such change. The Exercise Price hereunder shall be adjusted if and to the extent necessary to reflect such change. If the Warrant Stock or other securities issuable upon exercise hereof are subdivided or combined into a greater
or smaller number of shares of such security, the number of shares issuable hereunder shall be proportionately increased or decreased, as the case may be, and the Exercise Price shall be proportionately reduced or increased, as the case may be, in
both cases according to the ratio which the total number of shares of such security to be outstanding immediately after such even bears to the total number of shares of such security outstanding immediately prior to such event. The Corporation shall
give the holder prompt written notice of any change in the type of securities issuable hereunder, any adjustment of the Exercise Price for the securities issuable hereunder, and any increase or decrease in the number of shares issuable
hereunder.

 

12.    Transferability; Compliance with Securities Laws

 

		         (a)    This Warrant may not be transferred or assigned in
whole or in part without compliance with all applicable federal and state securities laws by the transferor and transferee (including the delivery of investment representation letters and legal opinions reasonably satisfactory to the Corporation, if
requested by the Corporation). Subject such restrictions, prior to the Expiration Time, this Warrant and all rights hereunder are transferable by the holder hereof, in whole or in part, at the office or agency of the Corporation referred to in
Section 1 hereof. Any such transfer shall be made in person or by the holder’s duly authorized attorney, upon surrender of this Warrant together with the Assignment Form attached hereto properly endorsed.

 

		         (b)    The Holder of this Warrant, by acceptance hereof,
acknowledges that this Warrant and the Warrant Stock issuable upon exercise hereof are being acquired solely for the holder’s own account and not as a nominee for any other party, and for investment, and that the holder will not offer, sell or
otherwise dispose of this Warrant or any shares of Warrant Stock to be issued upon exercise hereof except under circumstances that will not result in a violation of the Securities Act of 1933, as amended, or any state securities laws. Upon exercise
of this Warrant, the holder shall, if requested by the Corporation, confirm in writing, in a form satisfactory to the Corporation, that the shares of Warrant Stock so purchased are being acquired solely for holder’s own account and not as a
nominee for any other party, for investment, and not with a view toward distribution or resale.

 

3

 

		          (c)    The Warrant Stock has not been and will not be
registered under the Securities Act of 1933, as amended, and this Warrant may not be exercised except by (i) the original purchaser of this Warrant from the Corporation or (ii) an “accredited investor” as defined in Rule 501(a) under the
Securities Act of 1933, as amended. Each certificate representing the Warrant Stock or other securities issued in respect of the Warrant Stock upon any stock split, stock dividend, recapitalization, merger, consolidation or similar event, shall be
stamped or otherwise imprinted with a legend substantially in the following form (in addition to any legend required under applicable securities laws):

 

        THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER UNITED STATES FEDERAL OR STATE SECURITIES LAWS AND MAY
NOT BE OFFERED FOR SALE, SOLD OR OTHERWISE TRANSFERRED OR ASSIGNED FOR VALUE, DIRECTLY OR INDIRECTLY, NOR MAY THE SECURITIES BE TRANSFERRED ON THE BOOKS OF THE CORPORATION, WITHOUT REGISTRATION OF SUCH SECURITIES UNDER ALL APPLICABLE UNITED STATES
FEDERAL OR STATE SECURITIES LAWS OR COMPLIANCE WITH AN APPLICABLE EXEMPTION THEREFROM, SUCH COMPLIANCE, AT THE OPTION OF THE CORPORATION, TO BE EVIDENCED BY AN OPINION OF SHAREHOLDER’S COUNSEL, IN FORM ACCEPTABLE TO THE CORPORATION, THAT NO
VIOLATION OF SUCH REGISTRATION PROVISIONS WOULD RESULT FROM ANY PROPOSED TRANSFER OR ASSIGNMENT.

 

13.    Representations and Warranties

 

        The Corporation hereby represents and warrants to the holder hereof that:

 

		         (a)    during the period this Warrant is outstanding, the
Corporation will reserve from its authorized and unissued common stock a sufficient number of shares to provide for the issuance of Warrant Stock upon the exercise of this Warrant;

 

		         (b)    the issuance of this Warrant shall constitute full
authority to the Corporation’s officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the shares of Warrant Stock issuable upon exercise of this Warrant;

 

		         (c)    the Corporation has all requisite legal and
corporate power to execute and deliver this Warrant, to sell and issue the Warrant Stock hereunder, to issue the common stock issuable upon exercise of the Warrant Stock and to carry out and perform its obligations under the terms of this
Warrant;

 

		         (d)    all corporate action on the part of the
Corporation, its directors and shareholders necessary for the authorization, execution, delivery and performance of this Warrant by the Corporation, the authorization, sale, issuance and delivery of the Warrant Stock, the grant of registration
rights as provided herein and the performance of the Corporation’s obligations hereunder has been taken;

 

		         (e)    the Warrant Stock, when issued in compliance with
the provisions of this Warrant and the Corporation’s Articles of Incorporation (as they may be amended from time to time (the “Articles”)), will be validly issued, fully paid and nonassessable, and free of all taxes, liens or
encumbrances with respect to the issue thereof, and will be issued in compliance with all applicable federal and state securities laws; and

 

		         (f)    the issuance of the Warrant Stock will not be
subject to any preemptive rights, rights of first refusal or similar rights.

 

14.    Corporation

 

        The Corporation will not, by amendment of its Articles or through any reorganization, recapitalization, transfer of
assets, consolidation, merger, dissolution, issue or sale of securities or any other action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Corporation, but will at all times in
good faith assist in the carrying out of all the provisions of this Warrant and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the holder of the Warrant against impairment.

 

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 15.    Governing Law

 

        This Warrant shall be governed by and construed in accordance with the laws of the State of Oregon.

 

        IN WITNESS WHEREOF, the Corporation has caused this Warrant to be executed by its duly authorized officers.

 

Dated: November 22, 2000

 

		 BIOJECT MEDICAL TECHNOLOGIES INC.

 

		 

		 By: 

		 Name: Christine M. Farrell

		 Title: Controller & Secretary

 

5

 

 NOTICE OF EXERCISE

 

To: Bioject Medical Technologies Inc.

 

        (1)    The undersigned hereby elects to purchase        
          shares of common stock of Bioject Medical Technologies Inc. pursuant to the terms of the attached Warrant, and tenders herewith payment of the purchase price in full, together with all
applicable transfer taxes, if any.

 

        (2)    In exercising this Warrant, the undersigned hereby confirms and acknowledges that the shares
of common stock to be issued upon exercise hereof are being acquired solely for the account of the undersigned and not as a nominee for any other party, and for investment, and that the undersigned will not offer, sell or otherwise dispose of any
such shares of common stock except under circumstances that will not result in a violation of the Securities Act of 1933, as amended, or any state securities laws.

 

        (3)    Please issue a certificate or certificates representing said shares of common stock in the
name of the undersigned or in such other name as is specified below:

 

 

		 

(Name)

 

 

		 

(Address)

 

        (4)    The undersigned represents that (a) he, she or it is the original purchaser from the
Corporation of the attached Warrant or an “accredited investor” within the meaning of Rule 501(a) under the Securities Act of 1933, as amended and (b) the aforesaid shares of common stock are being acquired for the account of the
undersigned for investment and not with a view to, or for resale in connection with, the distribution thereof and that the undersigned has no present intention of distributing or reselling such shares.

 

	  

(Date)

		  

(Signature)

	

 

6

 

 ASSIGNMENT FORM

 

(To assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

        FOR VALUE RECEIVED, the undersigned registered owner of this Warrant hereby sells, assigns and transfers unto the
Assignee named below all of the rights of the undersigned under the within Warrant, with respect to the number of shares of common stock of Bioject Medical Technologies Inc. set forth below:

 

	Name of Assignee
	  	Address
	  	No. of Shares

	                       
                                   	  	                       
                                   	  	                       
                                   
	 	    		    	
	 	    		    	

 

and does hereby irrevocably constitute and appoint Attorney                  
                                to make such transfer on the books of Bioject Medical
Technologies Inc., maintained for the purpose, with full power of substitution in the premises.

 

        The undersigned also represents that, by assignment hereof, the Assignee acknowledges that this Warrant and the shares
of stock to be issued upon exercise hereof are being acquired for investment and that the Assignee will not offer, sell or otherwise dispose of this Warrant or any shares of stock to be issued upon exercise hereof except under circumstances which
will not result in a violation of the Securities Act of 1933, as amended, or any state securities laws. Further, the Assignee shall, if requested by the Corporation, confirm in writing, in a form satisfactory to the Corporation, that the shares of
stock so purchased are being acquired for investment and not with a view toward distribution or resale.

 

 

		 Dated: 

 

 

		 Holder’s Signature: 

 

 

		 Holder’s Address:

 

		  

 

 

		  

 

Guaranteed Signature:

 

        NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant,
without alteration or enlargement or any change whatever, and must be guaranteed by a bank or trust company. Officers of corporations and those action in a fiduciary or other representative capacity should file proper evidence of authority to assign
the foregoing Warrant.

 

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