SEC Contract Filing

Filing Date: 2025-05-13

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<DESCRIPTION>EX-10.1
<TEXT>
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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit
10.1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B>Exchange
Agreement</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THIS
EXCHANGE AGREEMENT (the &ldquo;<B>Agreement</B>&rdquo;) is dated as of May 12, 2025 (the <B>&ldquo;Effective Date&rdquo;</B>),
by and among Imunon, Inc., a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), and each Holder identified on the signature pages
hereto (each, a &ldquo;<B>Holder</B>&rdquo; and collectively, the <B>&ldquo;Holders&rdquo;</B>).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
prior to the execution of this Agreement, the Company entered into that certain Securities Purchase Agreement, dated as of July 30, 2024
(the &ldquo;<B>Purchase Agreement</B>&rdquo;), by and between the Company and the purchasers signatory thereto, including the Holders
(the <B>&ldquo;Purchasers&rdquo;</B>), pursuant to which the Purchasers purchased, and the Company issued and sold an aggregate of, (i)
5,000,000 shares of the Company&rsquo;s common stock, par value $0.01 per share (the &ldquo;<B>Common Stock</B>&rdquo;), and (ii) warrants
to purchase up to 5,000,000 shares of Common Stock in the form attached to the Purchase Agreement as <U>Exhibit C</U> (the &ldquo;<B>Warrants</B>&rdquo;);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WHEREAS,
each Holder desires to exchange its Warrants for shares of the Company&rsquo;s Common Stock (the &ldquo;<B>Exchange Shares</B>&rdquo;),
and the Company desires to issue the Exchange Shares in exchange for the Warrants, on a one-for-one basis, with the number of Exchange
Shares issued not to exceed 19.99% of the Company&rsquo;s outstanding shares of Common Stock as of the date of this Agreement, all in
the amounts set forth on the Holder signature pages hereto, provided, that if such amounts exceed the limitation set forth above, the
Exchange Shares shall be allocated pro rata among the Holders, and on the terms and conditions set forth in this Agreement in reliance
on the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;);
and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOW,
THEREFORE, in consideration of the terms and conditions contained herein, and other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the Company and each of the Holders hereby agree as follows:</FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Definitions</U>.
 The following terms have the meanings set forth below:</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; text-indent: 0.5in"><FON