Exhibit 10.1

EXCHANGE AGREEMENT

THIS EXCHANGE AGREEMENT (this “Agreement”), dated as of July __, 2011, is
entered into by and between Adeona Pharmaceuticals, Inc., a Nevada corporation
(the “Company”) and ___________ (“_______”).

WITNESSETH:

WHEREAS, in connection with a financing that was consummated on April 11, 2011,
the Company issued to _______________ a warrant exercisable for ___ shares of
the Company’s common stock at an exercise price of $2.0725 (the “Original
Warrant”); and

WHEREAS, the Company and _______________ desire to exchange the Original Warrant
for a new warrant (the “Replacement Warrant”), in the form annexed hereto.

NOW, THEREFORE, in consideration for the foregoing, the parties hereto agree as
follows:

1.
The Company and _______________ hereby agree to exchange the Original Warrant
for the Replacement Warrant.  Upon approval from the NYSE/AMEX of the proposed
exchange, the Company shall deliver to _______________ the Replacement Warrant
and _______________ shall deliver to the Company the Original Warrant for
cancellation.

2.
_______________ represents and warrants to, and covenant and agree with, the
Company as follows:

 
a.
_______________ is exchanging the Original Warrant for the Replacement Warrant
for its own account, for investment only and not with a view towards the public
sale or distribution thereof, and not with a view to or for sale in connection
with any distribution thereof.

 
b.
_______________ is the sole owner of all rights, title and interest in and to
the Original Warrant and _______________ has not assigned, transferred,
licensed, pledged or otherwise

 
encumbered the Original Warrant or agreed to do so.

 
3.
_______________ is not a U.S. Person as that term is defined in Regulation S
promulgated under the Securities Act. _______________’s principal address is
outside the United States and _______________ has no present intention of
becoming a resident of (or moving its principal place of business to) the United
States. At the time of purchase of the Warrants, including without limitation at
the time _______________ executed and delivered this Agreement and otherwise
agreed to purchase the Warrants, it was located outside the United States. The
Warrants are being acquired solely for _______________’s own account and not for
the account or the benefit of a U.S. person.

 
 
 

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4.
This Agreement shall be governed by and interpreted in accordance with the laws
of the State of New York.  A facsimile transmission of this signed Agreement
shall be legal and binding on all parties hereto.  This Agreement may be signed
in one or more counterparts, each of which shall be deemed an original.  The
headings of this Agreement are for convenience of reference and shall not form
part of, or affect the interpretation of, this Agreement.  If any provision of
this Agreement shall be invalid or unenforceable in any jurisdiction, such
invalidity or unenforceability shall not affect the validity or enforceability
of the remainder of this Agreement or the validity or enforceability of this
Agreement in any other jurisdiction.  This Agreement may be amended only by an
instrument in writing signed by the party to be charged with enforcement.  This
Agreement contains the entire agreement of the parties with respect to the
subject matter hereto, superseding all prior agreements, understandings or
discussions.

5.
This Agreement is subject to the Company’s receipt of the approval of the
NYSE/AMEX to the transactions contemplated hereby, including the exchange and
issuance of the Replacement Warrants.

IN WITNESS WHEREOF, the Company and _______________ have caused this Agreement
to be executed by their duly authorized representatives on the date as first
written above.

 
ADEONA PHARMACEUTICALS, INC.
       
By:
   
Name:  James Kuo
 
Title: Chief Executive Officer
               
By:
   
Name:
 
Title:

 
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