Pluristem Therapeutics Inc. Warrant and Option Exercise Deferral Agreement
This agreement is between Pluristem Therapeutics Inc. and a warrant holder. It confirms that the holder's right to exercise previously issued warrants and options to purchase shares of the company's common stock will be deferred until May 2009. If the company announces the start of its first human clinical trials before that date, the period to exercise the option will begin on May 2009. The agreement requires the holder's signature to confirm acceptance of these terms.
Exhibit 10.2
Dear ___________
On ____________, 2008, you entered into an agreement with Pluristem Therapeutics Inc. (the “Company”) pursuant to which you were issued a warrant to purchase up to an _____________ shares of Common Stock with an exercise price of $1.00 per share exercisable for a period of 5 years (the “Warrant”) and were given the option to purchase an additional _________ shares of Common Stock at a purchase price of $0.75 per share, and receive therewith warrants to purchase up to an additional _________ shares of Common Stock with an exercise price of $1.50 per share, by giving notice to the Company no later than 10 business days (“Notice Period”) following the release of an official announcement by the Company that it is initiating its first human clinical trials (the “Option”).
This is to confirm that you have agreed that the Warrant and the Option will not be exercisable until May _, 2009. It is agreed that in the event that the Company’s announcement that it is initiating its first human clinical trials comes before May _, 2009, then the Notice Period will commence on May _, 2009.
If you agree to the content of this letter, please so indicate by signing and returning a copy of this letter to me
Your sincerely,
Yaky Yanay, CFO
Agreed and Accepted by
