SEC Contract Filing

Filing Date: 2016-07-15

Document Content:
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<TYPE>EX-10.2
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<FILENAME>d211427dex102.htm
<DESCRIPTION>EX-10.2
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:56%; font-size:10pt; font-family:Times New Roman" ALIGN="center">July 14, 2016 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>STRICTLY CONFIDENTIAL </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CytRx Corporation </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">11726 San Vicente Blvd., Suite 650 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Los Angeles, CA 90049 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn:&nbsp;John Y. Caloz, Chief Financial Officer </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr.
Caloz: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This letter agreement (this &#147;<U>Agreement</U>&#148;) constitutes the agreement between CytRx Corporation (the
&#147;<U>Company</U>&#148;) and Rodman &amp; Renshaw, a unit of H.C. Wainwright &amp; Co., LLC (&#147;<U>Rodman</U>&#148;), that Rodman shall serve as the exclusive agent, advisor or underwriter in any offering (each, an &#147;<U>Offering</U>&#148;)
of securities of the Company (&#147;<U>Securities</U>&#148;) during the Term (as defined below) of this Agreement. The terms of each Offering and the Securities issued in connection therewith shall be mutually agreed upon by the Company and Rodman
and nothing herein implies that Rodman would have the power or authority to bind the Company and nothing herein implies that the Company shall have an obligation to issue any Securities. It is understood that Rodman&#146;s assistance in an Offering
will be subject to the satisfactory completion of such investigation and inquiry into the affairs of the Company as Rodman deems appropriate under the circumstances and to the receipt of all internal approvals of Rodman in connection with the
transaction. The Company expressly acknowledges and agrees that Rodman&#146;s involvement in an Offering is strictly on a reasonable best efforts basis and that the consummation of an Offering will be subject to, among other things, market
conditions. The execution of this Agreement does not constitute a commitment by Rodman to purchase the Securities and does not ensure a successful Offering of the Securities or the success of Rodman with respect to securing any other financing on
behalf of the Company.&nbsp;Rodman may retain other brokers, dealers, agents or underwriters on its behalf in connection with an Offering.&nbsp;The Company and Rodman agree that the Company may designate one investment banking firm to act as a
financial advisor in the Offering and such financial advisor may receive a fee of up to 15% of the cash fee otherwise payable to Rodman pursuant to first sentence of Section A.1 herein only. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A. <U>Compensation; Reimbursement</U>. At the closing of each Offering (each, a &#147;<U>Closing</U>&#148;), the Company shall compensate
Rodman as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <I>Cash Fee</I>.&nbsp;The Company shall pay to Rodman a cash fee, or as to an underwritten Offering
an underwriter discount, equal to 6.0% of the aggregate gross proceeds raised in such Offering. Additionally, Rodman shall receive a cash fee payable within 48 hours of (but only in the event of) the receipt by the Company of any proceeds from the
exercise of any warrants or options sold in each Offering. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <I>Expense Allowance</I>.&nbsp;Out of the proceeds of each
Closing, the Company also agrees to pay Rodman (a) a non-accountable management fee equal to 1% of the gross proceeds raised in such Offering, (b) $25,000 for non-accountable expenses of Rodman in connection with
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="line-height:2.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">430 Park Avenue&nbsp;&nbsp;|&nbsp;&nbsp;New York, New York 10022&nbsp;&nbsp;|&nbsp;&nbsp;212.356.0500 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Security services provided by H.C. Wainwright &amp; Co., LLC&nbsp;&nbsp;|&nbsp;&nbsp;Member: FINRA/SIPC </P>
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marketing the transaction (i.e., road show expenses, background checks, tombstones, etc.) and (c) $100,000 for legal fees and expenses of Rodman (<U>provided</U>, <U>however</U>, that such
reimbursement amount in no way limits or impairs the indemnification and contribution provisions of this Agreement). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-le