COMMON STOCK PURCHASE WARRANT To Purchase up to 800,000 Shares of Common Stock of CYTRX CORPORATIONCommon Stock Purchase Warrant • December 23rd, 2013 • Cytrx Corp • Biological products, (no disgnostic substances) • California
THIS COMMON STOCK PURCHASE WARRANT (this “Warrant”) certifies that, for value received, S.J. Bayern & Co. Inc., a Delaware corporation (“S.J. Bayern”), and it successors and assigns (the “Holder”), is entitled, upon the terms and subject to the vesting and other limitations on exercise and the conditions hereinafter set forth, at any time on or after the first month anniversary of the Effective Date (the “Initial Exercise Date”) and on or prior to 5:00 P.M., Pacific Time, on the third anniversary of the Effective Date (the “Termination Date”), but not thereafter, to subscribe for and purchase from CytRx Corporation, a Delaware corporation (the “Company”), up to 800,000 shares of Common Stock (as hereinafter defined) (the “Warrant Shares”), or such lesser number of shares as to which this Warrant shall have become vested as provided below. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price (as hereinafter defined).
