Delaware
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000-54495
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27-3440894
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(State or jurisdiction
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(Commission File
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(IRS Employer
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of incorporation or
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Number)
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Identification No.)
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organization)
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o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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EXHIBIT | DESCRIPTION |
4.1 | Form of Warrant |
4.2 | Form of Bridge Incentive Warrant |
4.3 | Form of 2011 Note Conversion Warrant |
4.4 | Form of 2012 Note Conversion Warrant |
4.5 | Form of Konus Warrant |
10.1 | Form of Subscription Agreement |
10.2 | Repayment Agreement |
10.3 | CSO Amended and Restated Employment Agreement |
10.4 | Amended and Restated Employment Agreement |
10.5 | Howe Termination Agreement |
10.6 |
Huh Termination Agreement
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ANTRIABIO, INC.
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DATE: April 1, 2014
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By:
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/s/ Nevan Elam
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Nevan Elam
Chief Executive Officer & Chairman of the
Board |
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EXHIBIT | DESCRIPTION |
4.1 | Form of Warrant |
4.2 | Form of Bridge Incentive Warrant |
4.3 | Form of 2011 Note Conversion Warrant |
4.4 | Form of 2012 Note Conversion Warrant |
4.5 | Form of Konus Warrant |
10.1 | Form of Subscription Agreement |
10.2 | Repayment Agreement |
10.3 | CSO Amended and Restated Employment Agreement |
10.4 | Amended and Restated Employment Agreement |
10.5 | Howe Termination Agreement |
10.6 |
Huh Termination Agreement
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HOLDER
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|||
Date: _________________
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/s/ ______________________________ | ||
Name: |
ANTRIABIO, INC.
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|||
Date: _________________
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By:
/s/ Nevan Elam
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||
Name: Nevan Elam
Title: Chief Executive Officer
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___ Category 1.
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A bank, as defined in Section 3(a)(2) of the Securities Act, whether acting in its individual or fiduciary capacity; or
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___ Category 2.
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A savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act, whether acting in its individual or fiduciary capacity; or
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___ Category 3.
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A broker or dealer registered pursuant to Section 15 of the United States
Securities Exchange Act of 1934
, as amended; or
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___ Category 4.
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An insurance company as defined in Section 2(a)(13) of the Securities Act; or
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___ Category 5.
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An investment company registered under the United States
Investment Company Act of 1940
; or
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___ Category 6.
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A business development company as defined in Section 2(a)(48) of the United States
Investment Company Act of 1940
; or
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___ Category 7.
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A small business investment company licensed by the U.S. Small Business Administration under Section 301 (c) or (d) of the United States
Small Business Investment Act of 1958
; or
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___ Category 8.
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A plan established and maintained by a state, its political subdivisions or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, with total assets in excess of $5,000,000; or
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___ Category 9.
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An employee benefit plan within the meaning of the United States
Employee Retirement Income Security Act of 1974
in which the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, savings and loan association, insurance company or registered investment adviser, or an employee benefit plan with total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons who are accredited investors; or
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___ Category 10.
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A private business development company as defined in Section 202(a)(22) of the United States
Investment Advisers Act of 1940
; or
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___ Category 11.
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An organization described in Section 501(c)(3) of the United States
Internal Revenue Code
, a corporation, a Massachusetts or similar business trust, or a partnership, not formed for the specific purpose of acquiring the Shares offered, with total assets in excess of $5,000,000; or
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___ Category 12.
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Any director or executive officer of the Corporation; or
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___ Category 13.
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A natural person whose individual net worth, or joint net worth with that person's spouse, at the time of this purchase exceeds $1,000,000; provided, however, that (i) person’s primary residence shall not be included as an asset; (ii) indebtedness that is secured by the person’s primary residence, up to the estimated fair market value of the primary residence at the time of the sale of securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of the sale of securities exceeds the amount outstanding 60 days
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before such time, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability); and (iii) indebtedness that is secured by the person’s primary residence in excess of the estimated fair market value of the primary residence at the time of the sale of securities shall be included as a liability; or
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___ Category 14.
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A natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year; or
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___ Category 15.
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A trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Shares offered, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the Securities Act; or
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___ Category 16.
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Any entity in which all of the equity owners meet the requirements of at least one of the above categories.
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d)
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Unless the shares purchased hereunder have been registered for resale under a registration statement filed under the Securities Act which is then in effect, the undersigned understands that the shares purchased hereunder have not been registered under the Securities Act, in reliance upon the exemption from the registration requirements under the Securities Act pursuant to Section 4(a)(2) of the Securities Act and Rule 506 promulgated thereunder; and, therefore, that the undersigned must bear the economic risk of the investment for an indefinite period of time since the securities cannot be sold, transferred or assigned to any person or entity without compliance with the provisions of the Securities Act.
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Submitted by:
By:_______________________
Date:_____________________
SS/Tax ID:_________________
Telephone:_________________
Email:_____________________
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Accepted by AntriaBio, Inc.
By:_______________________
Date:_____________________
Tax ID:____________________
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(Signature must conform in all respects to name of Investor as specified on Warrant) | |
Address:
____________________
____________________
____________________
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HOLDER
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Date: _________________
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/s/ ______________________________ | ||
Name: |
ANTRIABIO, INC.
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Date: _________________
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By:
/s/ Nevan Elam
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||
Name: Nevan Elam
Title: Chief Executive Officer
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___ Category 1.
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A bank, as defined in Section 3(a)(2) of the Securities Act, whether acting in its individual or fiduciary capacity; or
|
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___ Category 2.
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A savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act, whether acting in its individual or fiduciary capacity; or
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___ Category 3.
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A broker or dealer registered pursuant to Section 15 of the United States
Securities Exchange Act of 1934
, as amended; or
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___ Category 4.
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An insurance company as defined in Section 2(a)(13) of the Securities Act; or
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___ Category 5.
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An investment company registered under the United States
Investment Company Act of 1940
; or
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___ Category 6.
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A business development company as defined in Section 2(a)(48) of the United States
Investment Company Act of 1940
; or
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___ Category 7.
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A small business investment company licensed by the U.S. Small Business Administration under Section 301 (c) or (d) of the United States
Small Business Investment Act of 1958
; or
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___ Category 8.
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A plan established and maintained by a state, its political subdivisions or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, with total assets in excess of $5,000,000; or
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___ Category 9.
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An employee benefit plan within the meaning of the United States
Employee Retirement Income Security Act of 1974
in which the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, savings and loan association, insurance company or registered investment adviser, or an employee benefit plan with total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons who are accredited investors; or
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___ Category 10.
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A private business development company as defined in Section 202(a)(22) of the United States
Investment Advisers Act of 1940
; or
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___ Category 11.
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An organization described in Section 501(c)(3) of the United States
Internal Revenue Code
, a corporation, a Massachusetts or similar business trust, or a partnership, not formed for the specific purpose of acquiring the Shares offered, with total assets in excess of $5,000,000; or
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___ Category 12.
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Any director or executive officer of the Corporation; or
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___ Category 13.
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A natural person whose individual net worth, or joint net worth with that person's spouse, at the time of this purchase exceeds $1,000,000; provided, however, that (i) person’s primary residence shall not be included as an asset; (ii) indebtedness that is secured by the person’s primary residence, up to the estimated fair market value of the primary residence at the time of the sale of securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of the sale of securities exceeds the amount outstanding 60 days
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before such time, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability); and (iii) indebtedness that is secured by the person’s primary residence in excess of the estimated fair market value of the primary residence at the time of the sale of securities shall be included as a liability; or
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___ Category 14.
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A natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year; or
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___ Category 15.
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A trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Shares offered, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the Securities Act; or
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___ Category 16.
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Any entity in which all of the equity owners meet the requirements of at least one of the above categories.
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d)
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Unless the shares purchased hereunder have been registered for resale under a registration statement filed under the Securities Act which is then in effect, the undersigned understands that the shares purchased hereunder have not been registered under the Securities Act, in reliance upon the exemption from the registration requirements under the Securities Act pursuant to Section 4(a)(2) of the Securities Act and Rule 506 promulgated thereunder; and, therefore, that the undersigned must bear the economic risk of the investment for an indefinite period of time since the securities cannot be sold, transferred or assigned to any person or entity without compliance with the provisions of the Securities Act.
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Submitted by:
By:_______________________
Date:_____________________
SS/Tax ID:_________________
Telephone:_________________
Email:_____________________
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Accepted by AntriaBio, Inc.
By:_______________________
Date:_____________________
Tax ID:____________________
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(Signature must conform in all respects to name of Investor as specified on Warrant) | |
Address:
____________________
____________________
____________________
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1.
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EXERCISE OF WARRANT
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1.
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EXERCISE OF WARRANT
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HOLDER
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Date: March 26, 2014
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/s/ Nevan Elam | ||
Name: Nevan Elam
Title: Managing Member
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ANTRIABIO, INC.
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Date: March 26, 2014
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By:
/s/ Steve Howe
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Name: Steve Howe
Title: Director
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___ Category 1.
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A bank, as defined in Section 3(a)(2) of the Securities Act, whether acting in its individual or fiduciary capacity; or
|
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___ Category 2.
|
A savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act, whether acting in its individual or fiduciary capacity; or
|
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___ Category 3.
|
A broker or dealer registered pursuant to Section 15 of the United States
Securities Exchange Act of 1934
, as amended; or
|
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___ Category 4.
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An insurance company as defined in Section 2(a)(13) of the Securities Act; or
|
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___ Category 5.
|
An investment company registered under the United States
Investment Company Act of 1940
; or
|
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___ Category 6.
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A business development company as defined in Section 2(a)(48) of the United States
Investment Company Act of 1940
; or
|
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___ Category 7.
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A small business investment company licensed by the U.S. Small Business Administration under Section 301 (c) or (d) of the United States
Small Business Investment Act of 1958
; or
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___ Category 8.
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A plan established and maintained by a state, its political subdivisions or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, with total assets in excess of $5,000,000; or
|
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___ Category 9.
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An employee benefit plan within the meaning of the United States
Employee Retirement Income Security Act of 1974
in which the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, savings and loan association, insurance company or registered investment adviser, or an employee benefit plan with total assets in excess of $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons who are accredited investors; or
|
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___ Category 10.
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A private business development company as defined in Section 202(a)(22) of the United States
Investment Advisers Act of 1940
; or
|
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___ Category 11.
|
An organization described in Section 501(c)(3) of the United States
Internal Revenue Code
, a corporation, a Massachusetts or similar business trust, or a partnership, not formed for the specific purpose of acquiring the Shares offered, with total assets in excess of $5,000,000; or
|
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___ Category 12.
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Any director or executive officer of the Corporation; or
|
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___ Category 13.
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A natural person whose individual net worth, or joint net worth with that person's spouse, at the time of this purchase exceeds $1,000,000; provided, however, that (i) person’s primary residence shall not be included as an asset; (ii) indebtedness that is secured by the person’s primary residence, up to the estimated fair market value of the primary residence at the time of the sale of securities, shall not be included as a liability (except that if the amount of such indebtedness outstanding at the time of the sale of securities exceeds the amount outstanding 60 days
|
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before such time, other than as a result of the acquisition of the primary residence, the amount of such excess shall be included as a liability); and (iii) indebtedness that is secured by the person’s primary residence in excess of the estimated fair market value of the primary residence at the time of the sale of securities shall be included as a liability; or
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___ Category 14.
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A natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year; or
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___ Category 15.
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A trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Shares offered, whose purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the Securities Act; or
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___ Category 16.
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Any entity in which all of the equity owners meet the requirements of at least one of the above categories.
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d)
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Unless the shares purchased hereunder have been registered for resale under a registration statement filed under the Securities Act which is then in effect, the undersigned understands that the shares purchased hereunder have not been registered under the Securities Act, in reliance upon the exemption from the registration requirements under the Securities Act pursuant to Section 4(a)(2) of the Securities Act and Rule 506 promulgated thereunder; and, therefore, that the undersigned must bear the economic risk of the investment for an indefinite period of time since the securities cannot be sold, transferred or assigned to any person or entity without compliance with the provisions of the Securities Act.
|
Submitted by:
By:_______________________
Date:_____________________
SS/Tax ID:_________________
Telephone:_________________
Email:_____________________
|
Accepted by AntriaBio, Inc.
By:_______________________
Date:_____________________
Tax ID:____________________
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(i)
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the Subscriber shall have tendered the Purchase Price to Antria;
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(ii)
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all relevant documentation and approvals as may be required by applicable securities statutes, regulations, policy statements and interpretation notes, by applicable securities regulatory authorities and by applicable rules shall have been obtained and, where applicable, executed by or on behalf of the Subscriber;
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(iii)
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Antria shall have authorized and approved the execution and delivery of this Subscription Agreement (“
Agreement
”) and the issuance, allotment and delivery of the Securities; and
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(iv)
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the representations and warranties of Subscriber set forth in this Agreement shall be true and correct as of the Closing Date.
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a.
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SUBSCRIBER UNDERSTANDS THAT THE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES AGENCY.
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b.
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Subscriber is not an underwriter and Subscriber acquired the Securities solely for investment for its own account and not with a view to, or for, resale in connection with any distribution of securities within the meaning of the U.S. Securities Act; and the Securities are not being purchased with a view to or for the resale, distribution, subdivision or fractionalization thereof; and the undersigned has no contract, undertaking, understanding, agreement, or arrangement, formal or informal, with any person to sell, transfer, or pledge to any person the securities for which it hereby subscribes, or any part thereof; and it understands that the legal consequences of the foregoing representations and warranties to mean that it must bear the economic risk of the investment for an indefinite period of time because the Securities have not been registered under the U.S. Securities Act, and, therefore, may be resold only if registered under the U.S. Securities Act or if an exemption from such registration is available.
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c.
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Subscriber understands the speculative nature and risks of investments associated with Antria, and confirms that the securities would be suitable and consistent with its investment program and that its financial position enables Subscriber to bear the risks of this investment, and understands that he, she, or it could lose its entire investment in the securities. Subscriber further understands and acknowledges that there is, currently, no public market for the securities, and there may never be a public market for the securities.
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d.
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The
Securities subscribed for herein may not be transferred, encumbered, sold, hypothecated, or otherwise disposed of to any person, except in compliance with the U.S. Securities Act and applicable state securities or “blue sky” laws. The Subscriber acknowledges that the Securities are “restricted securities,” as such term is defined under Rule 144 of the U.S. Securities Act, and may not be offered, sold, transferred, pledged, or hypothecated to any person in the absence of registration under the U.S. Securities Act or an opinion of counsel satisfactory to the Company that registration is not required. Without limiting the generality or application of any other covenants, representations, warranties or acknowledgements of the Subscriber respecting resale of the Securities, if the Subscriber decides to offer, sell or otherwise transfer any of the Securities, it will not offer, sell or otherwise transfer any of such Securities directly or indirectly, unless:
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1.
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the sale is to the Company;
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2.
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the sale is made outside the United States in a transaction satisfying the requirements of Regulation S under the U.S. Securities Act and in compliance with applicable local laws and regulations;
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3.
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the sale is made pursuant to the exemption from the registration requirements under the U.S. Securities Act provided by Rule 144 thereunder and in accordance with any applicable state securities or “blue sky” laws;
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4.
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the Securities are sold in a transaction that does not require registration under the U.S. Securities Act or any applicable state laws and regulations governing the offer and sale of Securities, and it has prior to such sale furnished to the Company an opinion of counsel to that effect, which opinion and counsel shall be reasonably satisfactory to the Company; or
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5.
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the Securities are registered under the U.S. Securities Act and any applicable state laws and regulations governing the offer and sale of such Securities, and the Subscriber understands that the Company may instruct its registrar and transfer agent not to record any transfer of the Securities without first being notified by the Company that it is satisfied that such transfer is exempt from or not subject to the registration requirements of the U.S. Securities Act and applicable state securities laws.
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e.
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Subscriber understands that at the time Subscriber wishes to sell the Securities there may be no public market upon which to make such a sale, and that, even if such public market then exists, the Company may not have filed all reports and other materials required under Section 13 or 15(d) of the U.S. Securities Exchange Act of 1934, as amended, other than current reports on Form 8-K, during the preceding twelve (12) months, and that, in such event, because the Company may have been a “shell company” as contemplated under Rule 144(i), Rule 144 may not be available to Subscriber.
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f.
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Subscriber understands that Antria is under no obligation, except as stated in Section 4 below, to register the Securities or seek an exemption under the U.S. Securities Act or any applicable state laws for the
Securities, or to cause or permit the Securities to be transferred in the absence of any such registration or exemption, and understands that Subscriber must hold the Securities indefinitely unless the Securities
are subsequently registered under U.S. Securities Act and applicable state securities laws or an exemption from registration is available.
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g.
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Subscriber had the opportunity to ask questions of the Company and receive additional information from the Company to the extent that the Company possessed such information, or could acquire it without unreasonable effort or expense, necessary to evaluate the merits and risks of an investment in Antria.
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h.
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Subscriber has had an opportunity to review the Company’s annual, quarterly and current reports and any other reports filed by the Company with the SEC.
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i.
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Subscriber confirms that (i) it is able to bear the economic risk of the investment, (ii) it is able to hold the Securities for an indefinite period of time, (iii) it is able to afford a complete loss of its investment and that it has adequate means of providing for its current needs and possible personal contingencies, and that it has no need for liquidity in this investment, (iv) this investment is suitable for Subscriber based upon his, her or its investment holdings and
financial situation and needs, and this investment does not exceed ten percent of Subscriber’s net worth, and (v) Subscriber by reason of its business or financial experience could be reasonably assumed to have the capacity to protect its own interests
in connection with this investment.
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j.
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The Subscriber has not purchased the Securities as a result of any form of general solicitation or general advertising, including advertisements, articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over radio, or television, or any seminar or meeting whose attendees have been invited by general solicitation or general advertising.
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k.
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Subscriber confirms that this transaction is intended to be exempt from registration under the U.S. Securities Act by virtue of section 4(a)(2) of the U.S. Securities Act and the provisions of Rule 506 of Regulation D promulgated thereunder and confirms that it is an “accredited investor”
(as that term is defined under Rule 501(a) as promulgated under Regulation D of the U.S. Securities Act).
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l.
|
Subscriber has completed and delivered an
Accredited Investor Questionnaire (
Exhibit A
) to the Company and acknowledges that the representations, warranties and covenants contained therein are made by it with the intent that they may be relied upon by the Company in determining Subscriber’s eligibility to purchase the Units.
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m.
|
Subscriber confirms that he, she or it has based his, her or its decision to invest in the Units solely on the information provided in the offering memorandum (the “
Memorandum
”) and this Agreement and expressly confirms that Subscriber is not relying on any information or representations and warranties not contained in the Memorandum or this Agreement in making an investment decision, including without limitation any other written or oral communications from the Company, the Placement Agent, or any other private placement memoranda, business plans, executive summaries, prospectuses or other documents.
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n.
|
the Certificates representing the Securities delivered pursuant to this Subscription shall bear a legend in the following form:
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o.
|
Subscriber acknowledges that (i) a cash commission in the amount of 10% of aggregate gross proceeds of this Offering invested by Placement Agent and its affiliates and/or any Subscriber in this transaction and (ii) warrants, to purchase Common Shares equal to 15% of the gross proceeds of this Offering, are payable to the Placement Agent in connection with this transaction.
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p.
|
All information which the Subscriber has provided concerning the Subscriber is correct and complete as of the date set forth below, and if there should be any change in such information prior to the acceptance of this Agreement by the Company, the Subscriber will immediately provide such information to the Company.
|
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a.
|
Antria shall use reasonable commercial efforts to (i) prepare and file with the SEC within
thirty
(
30
) calendar days after the Closing Date a registration statement (on Form S-3, SB-1,
|
|
SB-2, S-1, or other appropriate registration statement form reasonably acceptable to the Subscriber) under the U.S. Securities Act (the “
Registration Statement
”), at the sole expense of Antria (except as specifically provided in Section 4(
c
) hereof), in respect of the Subscriber, so as to permit a public offering and resale of the Common Shares, PIPE Warrant Shares, the Bridge Incentive Warrant Shares, any shares issuable upon the conversion of promissory notes issued in the Bridge Financing, any shares issuable upon the exercise of warrants issued to investors in connection with the Bridge Financing and any shares issuable upon the exercise of warrants issued to the Placement Agent as compensation for services provided in connection with the Bridge Financing and this Offering (collectively, the “
Registrable Securities
”) in the United States under the U.S. Securities Act by the Subscriber, the Placement Agent or the Bridge Investors, as applicable, each as a selling stockholder and not as underwriter; and (ii) use commercially reasonable efforts to cause a Registration Statement to be declared effective by the United States Securities and Exchange Commission (the “
SEC
” or the “
Commission
”) as soon as possible, but in any event not later than the earlier of (a)
one hundred twenty
(
120
) calendar days following the Closing Date (or
one hundred fifty
(
150
) calendar days in the event of an SEC review of the Registration Statement), and (b) the fifth trading day following the date on which Antria is notified by the SEC that the Registration Statement will not be reviewed or is no longer subject to further review and comments. Antria will notify the Subscriber of the effectiveness of the Registration Statement (the “
Effective Date
”) within three (3) Trading Days (days in which the OTCQB is open for quotation) (each, a “
Trading Day
”). The initial Registration Statement shall cover the resale of 100% of the Registrable Securities, for an offering to be made on a continuous basis pursuant to Rule 415 (as promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same purpose and effect as such Rule);
provided
,
however
, that if 100% of the Registrable Securities included hereunder cannot be registered, the number of Registrable Securities on the initial Registration Statement shall be reduced pro-rata among all Subscribers, the Placement Agent and the Bridge Investors.
|
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b.
|
Antria will use reasonable commercial efforts to maintain the Registration Statement or post-effective amendment filed under this Section 4 effective under the U.S. Securities Act until the earlier of the date (i) all of the Registrable Securities have been sold pursuant to such Registration Statement or (ii) the Subscriber receives an opinion of counsel to Antria, which opinion and counsel shall be reasonably acceptable to Subscriber, the Company and the
|
|
|
transfer agent, that the Registrable Securities may be sold under the provisions of Rule 144 (the “
Effectiveness Period
”).
|
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c.
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All fees, disbursements and out-of-pocket expenses and costs incurred by Antria in connection with the preparation and filing of the Registration Statement and in complying with applicable securities and “blue sky” laws (including, without limitation, all attorneys’ fees of Antria, registration, qualification, notification and filing fees, printing expenses, escrow fees, blue sky fees and expenses and the expense of any special audits incident to or required by any such registration) shall be borne by Antria. The Subscriber shall bear the cost of underwriting and/or brokerage discounts, fees and commissions, if any, applicable to the Registrable Securities being registered and the fees and expenses of its counsel. Antria shall qualify any of the Registrable Securities for sale in such states as the Subscriber reasonably designates. However, Antria shall not be required to qualify in any state which will require an escrow or other restriction relating to Antria and/or the sellers, or which will require Antria to
qualify to do business in such state or require Antria to file therein any general consent to service of process. Antria at its expense will supply the Subscriber with copies of the applicable Registration Statement and the prospectus included therein and other related documents in such quantities as may be reasonably requested by the Subscriber.
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d.
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The Subscriber will cooperate with Antria in all respects in connection with this Agreement, including timely supplying all information reasonably requested by Antria (which shall include completing the Selling Shareholder Questionnaire attached hereto as
Exhibit C
, and all information regarding the Subscriber and proposed manner of sale of the Registrable Securities 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 Registrable Securities and entering into and performing its obligations under any underwriting agreement, if the offering is an underwritten offering, in usual and customary form, with the managing underwriter or underwriters of such underwritten offering. Any delay or delays caused by the Subscriber, or by any other purchaser of securities of Antria having registration rights similar to those contained herein, by failure to cooperate as required hereunder shall not constitute a breach or default of Antria under this Agreement. The Subscriber understands and agrees that the Company’s obligations under this Section 4 with respect to the preparation and filing of the Registration Statement are subject to the Subscriber or any other purchaser of securities of Antria having registration rights similar to those contained herein, timely providing the Company with the Selling Shareholder Questionnaire and all information reasonably requested by the Company to prepare and file the Registration Statement.
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e.
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Whenever Antria is required by any of the provisions of this Agreement to effect the registration of any of the Registrable Securities under the U.S. Securities Act, Antria shall (except as otherwise provided in this Agreement), as expeditiously as possible, subject to the assistance and cooperation as reasonably required of the Subscriber with respect to each Registration Statement:
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(i)
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furnish to the Subscriber such numbers of copies of a prospectus including a preliminary prospectus or any amendment or supplement to any prospectus, as
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applicable, in conformity with the requirements of the U.S. Securities Act, and such other documents as the Subscriber may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by the Subscriber;
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(ii)
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register and qualify the Registrable Securities covered by the Registration Statement under such other securities or blue sky laws of such jurisdictions as the Subscriber shall reasonably request (subject to the limitations set forth in Section (b) above), and do any and all other acts and things which may be necessary or advisable to enable the Subscriber to consummate the public sale or other disposition in such jurisdiction of the securities owned by the Subscriber; and
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(iii)
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provide a transfer agent and registrar for all securities registered pursuant to the Registration Statement and a CUSIP number for all such securities.
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f.
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Whenever Antria is required by any of the provisions of this Agreement to effect the registration of any of the Registrable Securities under the U.S. Securities Act, Antria shall (except as otherwise provided in this Agreement), as expeditiously as possible, subject to the
assistance and cooperation as reasonably required of the Subscriber with respect to each Registration Statement:
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a.
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Antria agrees to indemnify and hold harmless each Subscriber, their respective officers, directors, employees, partners, legal counsel and accountants, and each person controlling
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such Subscriber within the meaning of Section 15 of the U.S. Securities Act, and each person who controls any underwriter within the meaning of Section 15 of the U.S. Securities Act, from and against any losses, claims, damages, expenses or liabilities (or actions or proceedings in respect thereof) to which such Subscriber or such other indemnified person may become subject (including in settlement of litigation, whether commenced or threatened) insofar as such losses, claims, damages, expenses or liabilities (or actions or proceedings in respect thereof) arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact or omission or alleged omission to state a material fact in the Registration Statement, including all documents filed as a part thereof and information deemed to be a part thereof, on the effective date thereof, or any amendment or supplements thereto, or arise out of any failure by Antria to fulfill any undertaking or covenant included in the Registration Statement or to perform its obligations hereunder or under applicable law and Antria will, as incurred, reimburse such Subscriber, each of its respective officers, directors, employees, partners, legal counsel and accountants, and each person controlling such Subscriber, and each person who controls any such underwriter, for any legal or other expenses reasonably incurred in investigating, defending or preparing to defend, settling, compromising or paying such action, proceeding or claim;
provided, however
, that Antria shall not be liable in any such case to the extent that such loss, claim, damage, expense or liability (or action or proceeding in respect thereof) arises out of, or is based upon, (i) the failure of any Subscriber, or any of their agents, affiliates or persons acting on their behalf, to comply with the covenants and agreements contained in this Agreement with respect to the sale of Registrable Securities, (ii) an untrue statement or omission in such Registration Statement in reliance upon and in conformity with written information furnished to Antria by an instrument duly executed by or on behalf of the Subscriber, or any of its agents, affiliates
or persons acting on its behalf, and stated to be specifically for use in preparation of the Registration Statement and not corrected in a timely manner by the Subscriber in writing or (iii) an untrue statement or omission in any prospectus that is corrected in any subsequent prospectus, or supplement or amendment thereto, that was delivered to the Subscriber prior to the pertinent sale or sales by such Subscriber and not delivered by the Subscriber to the individual or entity to which it made such sale(s) prior to such sale(s).
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b.
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The Subscriber agrees to indemnify and hold harmless Antria from and against any losses, claims, damages, expenses or liabilities (or actions or proceedings in respect thereof) to which Antria may become subject (under the U.S. Securities Act or otherwise) insofar as such losses, claims, damages, expenses or liabilities (or actions or proceedings in respect thereof) arise out of, or are based upon (i) the failure of the Subscriber or any of its agents, affiliates or persons acting on its behalf, to comply with the covenants and agreements contained in this Agreement with respect to the sale of Registrable Securities; or (ii) an untrue statement or alleged untrue statement of a material fact or omission to state a material fact in the Registration Statement in reliance upon and in conformity with written information furnished to Antria by an instrument duly executed by or on behalf of such Subscriber and stated to be specifically for use in preparation of the Registration Statement;
provided, however
, that the Subscriber shall not be liable in any such case for (i) any untrue statement or alleged untrue statement or omission in any prospectus or Registration Statement which statement has been corrected, in writing, by such Subscriber and delivered to Antria before the sale from which such loss occurred; or (ii) an untrue statement or omission in any prospectus that is corrected in any subsequent prospectus, or supplement or
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amendment thereto, that was delivered to the Subscriber prior to the pertinent sale or sales by the Subscriber and delivered by the Subscriber to the individual or entity to which it made such sale(s) prior to such sale(s), and the Subscriber, severally and not jointly, will, as incurred, reimburse Antria for any legal or other expenses reasonably incurred in investigating, defending or preparing to defend any such action, proceeding or claim. Notwithstanding the foregoing, the Subscriber shall not be liable or required to indemnify Antria in the aggregate for any amount in excess of the net amount received by the Subscriber from the sale of the Registrable Securities, to which such loss, claim, damage, expense or liability (or action proceeding in respect thereof) relates.
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c.
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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 4, such indemnified person shall notify the indemnifying person in writing of such claim or of the commencement of such action and, 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 wish, to assume the defense thereof. After notice from the indemnifying person to such indemnified person of the indemnifying person’s election to assume the defense thereof, the indemnifying person shall not be liable to such indemnified person for any legal expenses 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, in the opinion of counsel to the indemnified party, make it inappropriate under applicable laws or codes of professional responsibility 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, further
, that the indemnifying person shall not be obligated to assume the expenses
of more than one counsel to represent all indemnified persons. In the event of such separate counsel, such counsel shall agree to reasonably cooperate.
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d.
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If the indemnification provided for in this Section 4 is unavailable or insufficient to hold harmless an indemnified party under subsection (a) or (b) above in respect of any losses, claims, damages, expenses or liabilities (or actions or proceedings in respect thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, expenses or liabilities (or actions or proceedings in respect thereof) in such proportion as is appropriate to reflect the relative fault of Antria on the one hand and the Subscriber, or its agents, affiliates or persons acting on its behalf, on the other in connection with the statements or omissions which resulted in such losses, claims, damages, expenses or liabilities (or actions or proceedings in respect thereof), as well as any other relevant equitable considerations. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by Antria on the one hand or the Subscriber, or its agents, affiliates or persons acting on its behalf, on the other and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. Antria and the Subscriber agree that it would not be just and equitable if contribution pursuant to this subsection (d) were determined by any other method of allocation which does not take into account the equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified party as a result of the losses, claims,
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damages, expenses or liabilities (or actions or proceedings in respect thereof) referred to above in this subsection (d) 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. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the U.S. Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. In any event, the Subscriber shall not be liable or required to contribute to Antria in the aggregate for any amount in excess of the net amount received by the Subscriber from the sale of its Registrable Securities.
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*
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By the foregoing signature, I hereby certify to AntriaBio, Inc. that I am duly empowered and authorized to provide the foregoing information.
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(a)
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Konus is acquiring the Payment Shares for Konus’s own account and for investment purposes only and not with a view towards, or for resale in connection with, the public sale or distribution thereof; provided however, by making the representations herein, Konus does not agree to hold any of the Payment Shares
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(b)
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Konus recognizes that investment in the Payment Shares involves substantial risks and has taken full cognizance of and understands all of the risks related to the acquisition of the Payment Shares. In making its decision to invest in the Payment Shares, Konus has relied on the information provided by Antria and certain documents and materials delivered by Antria, and on Konus’s own independent investigations and/or those of Konus’s own professional tax and other advisors. Konus has been given the opportunity to obtain information and to examine all documents relating to Antria, and to ask questions of, and to receive answers from, the officers of Antria concerning Antria, the officers and directors and the terms and conditions of this investment and to obtain any additional information, to the extent Antria possesses such information or could acquire it without unreasonable effort or expense, to verify the accuracy of any information previously furnished. All such questions have been answered to the full satisfaction of Konus, and all information and documents, records and books pertaining to this investment, which Konus has requested have been made available to Konus.
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(c)
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Konus believes that it has such knowledge and experience in financial and business matters to evaluate the merits and risks of the prospective investment in the Payment Shares and is able to (i) hold the Payment Shares for an indefinite period of time, (ii) bear the economic risk of its investment in the Payment Shares, and (iii) withstand a complete loss of such investment.
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(d)
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Konus is aware that the Payment Shares have not been registered under the Securities Act of 1933, as amended (the “
Securities Act
”), or the securities laws of any state, and Antria intends to rely upon the exemption available under Section 4(a)(2) of the Securities Act in connection the issuance of the Payment Shares based in part upon representations set forth herein. Konus understands that the Payment Shares may not be offered, sold, transferred, pledged or hypothecated to any person in the absence of registration under the Securities Act or an opinion of counsel satisfactory to Antria that an exemption from such registration is available for sales of the Payment Shares by Konus. Konus understands that Antria does not plan, and is under no obligation to provide for, registration of the Payment Shares in the future. Accordingly, any subsequent sale by Konus of part or all of the Payment Shares will be possible only if an exemption from the applicable registration provisions of federal and state law is available at the time of the proposed disposition.
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(e)
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Konus represents and warrants that it is aware of no facts or circumstances indicating that the undersigned is or may be deemed to be an “underwriter” (as defined in the Securities Act) of securities of Antria.
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(f)
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Konus understands that Antria may have been “shell company” as contemplated under Rule 144(i) and Rule 144 may not be available to the Konus if, or until,
Antria is eligible to rely on Rule 144(i)(2).
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(g)
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Konus has the power and authority to execute and comply with the terms of this Agreement.
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(h)
|
Konus understands that the Payment Shares are “restricted securities” (as that term is defined in paragraph (a)(3) of Rule 144 under the Securities Act).
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(i)
|
Konus is an “accredited investor” within the meaning of Rule 501(a)(1), (2), (3) or (7) of the Securities Act and is able to bear the economic risk of losing its entire investment in Antria.
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(j)
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Konus understands that nothing in this Agreement constitutes legal, tax or business advice.
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(k)
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Konus understands that any certificate representing the Payment Shares shall bear the following restrictive legend:
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ANTRIABIO, INC.
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KONUS ADVISORY GROUP, INC.
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Executive:
/s/ Sankaram Mantripragada
Sankaram Mantripragada
|
AntriaBio, Inc.
By:
/s/ Nevan Elam
Name: Nevan Elam
Title: CEO
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1.
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Employment
. Subject to the terms and conditions set forth in this Agreement, the Company hereby offers and the Executive hereby accepts employment.
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2.
|
Term
. The Executive’s employment hereunder shall commence effective as of March 26, 2014, (the “Effective Date”) and shall continue until terminated on the terms and conditions set forth herein. The Term of this Agreement is hereafter referred to as “the term of this Agreement” or “the term hereof.”
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3.
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Capacity and Performance
.
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Executive:
/s/ Nevan Elam
Nevan Elam
|
AntriaBio, Inc.
By:
/s/ Hoyoung Huh
Name: Hoyoung Huh
Title: Director
|
1.
|
Waiver of Employment Agreement Notice Provisions
. The parties hereby agree to waive any and all advance written notice of termination provisions in the Employment Agreement (the “
Advance Notice Provisions
”), including, but not limited to, the Advance Notice Provisions set forth in Section 5 of the Employment Agreement and further agree to the Termination as of the Effective Date (as defined herein).
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2.
|
Termination of Agreement
. Effective as of January 1, 2014 (the “
Effective Date
”), the Employment Agreement is terminated and is of no further force and effect except as expressly set forth in this Agreement.
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3.
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Release of Liability
. On the Effective Date, the Company and the Executive are fully and unconditionally released and discharged from their respective obligations arising from or connected with the provisions of the Employment Agreement. This Agreement fully and finally settles any and all demands, charges, accounts, or causes of action of any nature, including, without limitation, claims and causes of action both known and unknown that arose out of or in connection with the Employment Agreement, and it constitutes a mutual release with respect to the Employment Agreement.
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4.
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Compensation
. In addition to Section 3 of this Agreement, Executive further agrees to waive all right and interest in and to: (i) any amounts due and owing to the Executive as compensation under the terms of the Employment Agreement; (ii) any liquidated damages, Base Salary (as that term is defined in the Employment Agreement), any bonus compensation due and owing under the terms of the Employment Agreement, including any existing severance pay plan for employees, any unissued stock options due and owing under the terms of the Employment Agreement, any severance benefits due and owing under the terms of the Employment Agreement; (iii) any vacation time, insurance coverage, automobile allowance due and owing to the Executive under the terms of the Employment Agreement; and (iv) any other compensation due and owing to the Executive under the terms of the Employment Agreement that is not otherwise set forth in (i) through (iii) of this Section 4.
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5.
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Stock Options
. Notwithstanding the provisions of Section 4 of this Agreement, stock options that have been issued to the Executive prior to this Agreement will remain outstanding as set forth in each of the Executive’s option agreements. Notwithstanding the foregoing, the Company shall have no further obligations to issue stock options to the Executive except at the discretion of the Company’s board of directors.
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6.
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Condition Precedent
. It shall be a condition precedent to this Agreement that the Executive enter into a Non-Disclosure Agreement with the Company in substantially the same form as attached hereto as Exhibit A.
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7.
|
Survival of Obligations
. Except for the provisions of Sections 8, 9, 10, 11, 16, 17, 18, 19, 20, 21, 22 and 23 of the Employment Agreement, no covenants, terms or conditions of the Employment Agreement shall survive the Termination specified in this Agreement.
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8.
|
Miscellaneous
. This Agreement is binding on the parties’ successors and assigns. Nothing in this Agreement shall impact the Executive’s employment status with the Company other than as an executive of the Company or Executive’s status as a member of the Company’s board of directors. This Agreement may be executed in any number of counterparts, all of which are considered one and the same Agreement notwithstanding that all parties hereto have not signed the same counterpart. Signatures of this Agreement which are transmitted by facsimile are valid for all purposes. Any party shall, however, deliver an original signature of this Agreement to the other party upon request. If any provision of this Agreement is held by the final judgment of any court of competent jurisdiction to be illegal, invalid or unenforceable, the validity of the remaining portions or provisions must not be impaired or affected, and the rights and obligations of the parties must be construed and enforced as if this Agreement did not contain that certain
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Steve R. Howe, Director
By:
/s/ Steve R. Howe
Name: Steve R. Howe
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1.
|
Waiver of Consulting Agreement Advance Notice Provisions
. The parties hereby agree to waive any and all advance written notice of termination provisions in the Consulting Agreement (the “
Advance Notice Provisions
”), including, but not limited to, the Advance Notice Provisions set forth in Section 4 of the Consulting Agreement and further agree to the Termination as of the Effective Date (as defined herein).
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2.
|
Termination of Agreement
. Effective as of January 1, 2014 (the “
Effective Date
”), the Consulting Agreement is terminated and is of no further force and effect except as expressly set forth in this Agreement.
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3.
|
Release of Liability
. On the Effective Date, the Company and the Consultant are fully and unconditionally released and discharged from their respective obligations arising from or connected with the provisions of the Consulting Agreement. This Agreement fully and finally settles any and all demands, charges, accounts, or causes of action of any nature, including, without limitation, claims and causes of action both known and unknown that arose out of or in connection with the Consulting Agreement, and it constitutes a mutual release with respect to the Consulting Agreement.
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4.
|
Compensation
. In addition to Section 3 of this Agreement, the Consultant further agrees to waive all right and interest in and to: (i) any amounts due and owing to the Consultant as compensation under the terms of the Consulting Agreement; (ii) any bonus compensation due and owing to the Consultant under the terms of the Consulting Agreement; (iii) any insurance coverage, automobile allowance due and owing to the Consultant under the terms of the Consulting Agreement; and (iv) any other compensation or reimbursement due and owing to the Consultant under the terms of the Consulting Agreement that is not otherwise set forth in (i) through (iii) of this Section 4.
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5.
|
Stock Options
. Notwithstanding the provisions of Section 4 of this Agreement, stock options that have been issued to the Consultant prior to this Agreement will remain outstanding as set forth in each of the Consultant’s option agreements. Notwithstanding the foregoing, the Company shall have no further obligations to issue stock options to the Consultant except at the discretion of the Company’s board of directors.
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6.
|
Condition Precedent
. It shall be a condition precedent to this Agreement that the Consultant enter into a Non-Disclosure Agreement with the Company in substantially the same form as attached hereto as Exhibit A.
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7.
|
Survival of Obligations
. Except for the Confidentiality provisions of the Consulting Agreement as set forth in Section 9 of the Consulting Agreement, no covenants, terms or conditions of the Consulting Agreement shall survive the Termination as specified in this Agreement.
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8.
|
Miscellaneous
. This Agreement is binding on the parties’ successors and assigns. Nothing in this Agreement shall impact the Consultant’s employment status with the Company, if any, other than as a consultant or Consultant’s status as a member of the Company’s board of directors. This Agreement may be executed in any number of counterparts, all of which are considered one and the same Agreement notwithstanding that all parties hereto have not signed the same counterpart. Signatures of this Agreement which are transmitted by facsimile or electronic mail are valid for all purposes. Any party shall, however, deliver an original signature of this Agreement to the other party upon request. If any provision of this Agreement is held by the final judgment of any court of competent jurisdiction to be illegal, invalid or unenforceable, the validity of the remaining portions or provisions must not be impaired or affected, and the rights
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Hoyoung Huh, Director
By:
/s/ Hoyoung Huh
Name: Hoyoung Huh
|