Exhibit 10.16
  Text omitted and submitted separately pursuant to confidential treatment request
under 17 C.F.R. Sections 200.80(b)(4) and 230.406
 EXCLUSIVE LICENSE AND SUPPLY AGREEMENT
 by and between
 PFIZER INC.
 and
 PROTALIX LTD.
 November 30, 2009




---



##### 



TABLE OF CONTENTS
 Section 1. DEFINITIONS
    
    
    1Section 2. INTENTIONALLY OMITTED
    
    
    15Section 3. LICENSE
    
    
    153.1. Exclusive License
    
    
    153.2. Other License Provisions
    
    
    163.3. Non-Assertion of Rights
    
    
    173.4. Sublicensing and Subcontracting
    
    
    173.5. Improvements
    
    
    183.6. Patent Challenges
    
    
    193.7. No Implied License
    
    
    19Section 4. DEVELOPMENT, REGULATORY APPROVALS AND MARKETING
    
    
    194.1. Development Plan
    
    
    194.2. Development Responsibilities
    
    
    204.3. Steering Committee
    
    
    204.4. Records
    
    
    234.5. Diligence
    
    
    234.6. Regulatory Affairs
    
    
    244.7. Commercialization and Pricing
    
    
    274.8. Early Access Programs
    
    
    284.9. Trademarks
    
    
    284.10. Use of Names
    
    
    304.11. Access to Information
    
    
    314.12. Information Rights
    
    
    314.13. [***]
    
    
    314.14. Scope of Sections 4.12 and 4.13
    
    
    31Section 5. MANUFACTURE AND SUPPLY
    
    
    315.1. Supply Chain Committee
    
    
    315.2. Capacity
    
    
    335.3. Development Supply of Drug Substance
    
    
    34
 [***]
Redacted pursuant to a confidential treatment request.
 i




---



##### 



5.4. Commercial Supply of Drug Substance
    
    
    345.5. Fill/Finish; Certain Other Manufacturing Activities
    
    
    345.6. Forecasting and Ordering.
    
    
    345.7. Pricing, Invoicing and Supply Price Reconciliation
    
    
    365.8. Shipping and Delivery.
    
    
    375.9. Compliance; Quality Control Obligations
    
    
    375.10. Certificate of Analysis; Acceptance and Returns
    
    
    375.11. Product Specification and Manufacturing Changes
    
    
    395.12. Master Cell Bank
    
    
    395.13. Shortages
    
    
    395.14. Safety Stock Obligations
    
    
    395.15. Certain Supply Chain Issues
    
    
    405.16. Other Assistance by Pfizer
    
    
    415.17. Failure to Supply
    
    
    425.18. Manufacturing Covenants
    
    
    425.19. Amendment to [***]
    
    
    435.20. Certain References to Licensed Product
    
    
    43Section 6. FINANCIAL PROVISIONS
    
    
    436.1. Effective Date Payment
    
    
    436.2. Event Milestone Payments
    
    
    436.3. Development Costs
    
    
    446.4. Sharing of Net Profit and Net Loss
    
    
    46Section 7. ACCOUNTING AND PROCEDURES FOR PAYMENT
    
    
    467.1. Periodic Reporting and Reconciliation Payments
    
    
    467.2. Inter-Company Sales
    
    
    497.3. Currency
    
    
    497.4. Method of Payments
    
    
    507.5. Inspection of Records
    
    
    507.6. Tax Matters
    
    
    51
 [***]    Redacted pursuant to a confidential treatment request.
 ii




---



##### 



Section 8. PATENTS AND INFRINGEMENT
    
    
    528.1. Filing and Prosecution
    
    
    528.2. Correspondence
    
    
    538.3. Maintenance
    
    
    548.4. Notices and Encumbrances
    
    
    548.5. Patent Term Extensions
    
    
    548.6. Interpretation of Patent Judgments
    
    
    558.7. Third Party Royalty Obligations
    
    
    558.8. Third Party Infringement
    
    
    568.9. Paragraph IV Notices
    
    
    578.10. Other Actions by a Third Party
    
    
    578.11. Compensation to Inventors
    
    
    588.12. Patent Marking
    
    
    588.13. In-Licensed Patents
    
    
    58Section 9. CONFIDENTIALITY; PUBLICATION
    
    
    589.1. Confidential Information.
    
    
    589.2. Permitted Disclosure of Confidential Information.
    
    
    589.3. Publication.
    
    
    609.4. Publicity.
    
    
    609.5. Filing, Registration or Notification of the Agreement
    
    
    61Section 10. REPRESENTATIONS, WARRANTIES AND COVENANTS
    
    
    6210.1. Protalix Representations, Warranties and Covenants
    
    
    6210.2. Manufacturing Representations, Warranties and Covenants
    
    
    6510.3. Environmental Representations, Warranties and Covenants
    
    
    6710.4. Pfizer Representations, Warranties and Covenants
    
    
    6810.5. Disclaimer of Warranty
    
    
    69Section 11. ADDITIONAL COVENANTS
    
    
    7011.1. Restrictions on Transfers and Liens
    
    
    7011.2. Third Party Licenses and Agreements
    
    
    7011.3. [***]Letter Agreement
    
    
    70
 [***]    Redacted pursuant to a confidential treatment request.
 iii




---



##### 



11.4. Compliance with Laws
    
    
    7111.5. Coordination outside the Territory
    
    
    7111.6. Operational Plan
    
    
    71Section 12.NON-COMPETITION
    
    
    7112.1. Pfizer Non-Compete
    
    
    7112.2. Protalix Non-Compete
    
    
    7112.3. Acquisition of Competing Product
    
    
    71Section 13.TERM
    
    
    72Section 14.TERMINATION
    
    
    7214.1. INTENTIONALLY OMITTED
    
    
    7214.2. Termination Rights
    
    
    7214.3. Continuing and Accrued Obligations and Surviving Provisions
    
    
    7314.4. Effects of Termination
    
    
    7414.5. Bankruptcy
    
    
    76Section 15.INDEMNIFICATION AND INSURANCE
    
    
    7715.1. Indemnification.
    
    
    7715.2. Losses
    
    
    7815.3. Defense Procedures; Procedures for Third Party Claims
    
    
    7815.4. Certain Other Losses.
    
    
    7915.5. Disclaimer of Liability for Consequential Damages
    
    
    8015.6. Sole Remedy
    
    
    8015.7. Insurance Requirements
    
    
    80Section 16.STANDSTILL
    
    
    8316.1. Standstill Provisions
    
    
    8316.2. Exceptions
    
    
    8416.3. Termination of Standstill Provisions
    
    
    8416.4. Sales Process
    
    
    85Section 17.GOVERNING LAW AND JURISDICTION
    
    
    8617.1. Governing Law
    
    
    8617.2. Jurisdiction
    
    
    86Section 18.MISCELLANEOUS
    
    
    86
 iv




---



##### 



18.1. Force Majeure
    
    
    8618.2. Severability
    
    
    8718.3. Waivers
    
    
    8718.4. Entire Agreements; Amendments
    
    
    8718.5. Survival
    
    
    8718.6. Assignment; Binding Effect
    
    
    8818.7. Independent Contractor
    
    
    8818.8. Notices
    
    
    8818.9. Third Party Beneficiaries
    
    
    8918.10. Binding Effect
    
    
    8918.11. Performance by Affiliates
    
    
    8918.12. Corporate Integrity Agreement
    
    
    8918.13. Counterparts
    
    
    8918.14. Headings
    
    
    8918.15. Equitable Remedies
    
    
    89
 EXHIBITS
 
    
    EXHIBIT A  AMINO ACID SEQUENCE FOR DRUG SUBSTANCE
    
    EXHIBIT B  PROTALIX PATENT RIGHTS
    
    EXHIBIT C  THIRD PARTY LICENSES
    
    EXHIBIT D  DEVELOPMENT PLAN
    
    EXHIBIT E  CALCULATION OF NET PROFIT/NET LOSS
    
    EXHIBIT F  PRESS RELEASE
    
    EXHIBIT G  INITIAL COMMERCIALIZATION PLAN
    
    EXHIBIT H  FORM OF TRADEMARK ASSIGNMENT
    
    EXHIBIT I  COMPLIANCE CERTIFICATE
    
    EXHIBIT J  FORM OF[***]LETTER AGREEMENT
    
    EXHIBIT K AMENDMENT TO[***]
 APPENDICES
 
 [***]    Redacted pursuant to a confidential treatment request.
 v




---



##### 



Agreement Pfizer
    provided
 Section 1.DEFINITIONS
  Accumulated Net Loss Section
6.4(b)(ii)
 Actual Price Section
5.7(a)(iii)
 Additional Development Costs Section
6.3(h)
 Affiliate provided further Section 16.3 16.4 Section 3




---



##### 



Allocation Percentage Section 5.2(c)
 Allowable Expenses Exhibit E
 Business Associates Appendix 10.1(t)
 Business Combination Transaction Section
16.1(d)
 Business Day
 Capacity Cap Section 5.2(c)
 Commence Commencement
 Commercialization [***] Commercialize
 Commercialization Plan Section
4.7(a)
 Commercially Reasonable Efforts [***]
 [***]
   Redacted pursuant to a confidential treatment request.
 2




---



##### 



Competing Product [***]
 Compound
 Confidential Information
 Control Controlled
 Cost of Goods Sold COGS Exhibit E
 Costs of Early Access Programs
 Country
 Court Section 17.2
 Current Capacity Cap Section 5.2(a)
 Development Develop
 Development Costs [***] [***]
 Development Plan Section 4.1
 [***] Redacted pursuant to a confidential treatment request.
 3




---



##### 



Drug Substance
 Early Access Program
 Effective Date
 EMEA
 Environmental Laws
 Environmental Permits Section
10.3(a)(ii)
 Estimated Price Section 5.7(a)(i)
 European Union EU
 Event Milestone Section 6.2(a)
 Event Milestone Payments Section 6.2(a) Section 6.2(d)
 Exchange Act
 Ex-US/EU Development Costs Section 6.3(f)
 Facility
 Failure to Supply Section
5.15
 Field
 FCPA Appendix 10.1(t)
 FDA
 4




---



##### 



FDA Approval Date
 FDCA
 Fill/Finish
 Force Majeure Event Section 18.1
 Forecast Section 5.6(a)
 Fully Absorbed Cost of Goods Exhibit E
 GAAP
 GMP Audit Section 5.9(a)
 Good Manufacturing Practices GMP
 Governmental Authority
 Government Official Section
10.1(r)
 Gross Sales
 Hazardous Materials
 5




---



##### 



[***]
 Hold Separate Transaction
 Improvement Notice Section 3.5(a)
 Increased Capacity Cap Section 5.2(b)
 Indemnified Party Section 15.3
 Indemnifying Party Section 15.3
 Initial Commercialization Plan Section 4.7(a)
 Initial Forecast Section
5.6(a)
 [***]
 Labeling and Packaging
 Labeling and Packaging Costs Exhibit
E
 Launch
 [***] Redacted pursuant to a confidential treatment request.
 6




---



##### 



Laws
 Licensed Product Section 5.17 Section 5.17
 Long Range Forecast Section 5.6(a)
 Losses Section 15.2
 Major EU Countries [***]
 Major Market Country [***]
 Manufacture Manufacturing
 Manufacturing Certificate of Analysis Section 5.10(a)(i)
 NDA
 Net Profit or Loss Exhibit E
 [***] Redacted pursuant to a confidential treatment request.
 7




---



##### 



Net Sales
 Non-Conformance Period Section
5.10(b)
 Notice of Non-Conformance Section
5.10(a)(i)
 Ongoing Clinical Study
 Oral Formulation
 Other Regulatory Commitments [***] [***]
 Outside of the Scope Product Section 8.2
 Patent Application
 Patent Rights
 [***] Redacted pursuant to a confidential treatment request.
 8




---



##### 



Patents
 [***]Study [***] [***] [***]
 [***]Study Development Costs Section
6.3(c)
 Person
 Pfizer Chair Section 4.3(a)
 Pfizer Confidential Information provided
 Pfizer Discount or Savings Program
 Pfizer Quarter
 [***] Redacted pursuant to a confidential treatment request.
 9




---



##### 



Pfizer Third Party Fill/Finish Agreement
 Pfizer Year
 Phase 4 Trial [***]
 prGCD Exhibit A
 Price Approval
 Price for Drug Substance [***] [***] [***]
 Product Specifications
  [***] Redacted pursuant to a confidential treatment request.
 10




---



##### 



Protalix Chair
 Protalix Change of Control
    Large Pharmaceutical
Company [***]
 Protalix Confidential Information
 [***] Redacted pursuant to a confidential treatment request.
 11




---



##### 



provided
 Protalix Improvement
 Protalix Patent Rights Exhibit B
 Protalix System Patent Rights
 Protalix Technology
 [***]
 Purchase Order Section
5.6(a)
 Quality Agreement [***] [***]
 [***] Redacted pursuant to a confidential treatment request.
 12




---



##### 



Redacted Agreement Section
9.5
 Regulatory Approval
 Regulatory Authority
 Regulatory Exclusivity
 Release
 Reporting Period Section
7.1(a)
 Required Studies [***]
 [***] Redacted pursuant to a confidential treatment request.
 13




---



##### 



Safety Stock Section 5.14(a)
 Sales and Marketing Expenses Exhibit E
 Steering Committee Section 4.3(a)
 Steering Committee Meeting Section 4.3(b)
 Sublicense Section
3.1
 Sublicensee
 Supply Failure Section 5.17(a)
 System
 Technology
 Term Section 13
 Territory
 [***]
 Third Party
 Third Party Claim Section
15.3
 Third Party License Exhibit C
 [***]
 Uncapped Expenses Exhibit E
 [***] Redacted pursuant to a confidential treatment request.
 14




---



##### 



Uplyso Trademarks Exhibit H
 Valid Claim
 [***] [***]
 [***] License Agreement [***] [***]
 Waste
  Section 2. [INTENTIONALLY OMITTED]   Section 3. LICENSE
 Exclusive License Section
3.2 Section 3.2 Section 3.4
 [***] Redacted pursuant to a confidential treatment request.
 15




---



##### 



Other License Provisions
 Section 3.1 Section 3.1 Section 14.2(c) provided Section 3.1 [***] Section
12 Section 3.1 [***]
 Section 3.1
 Section
3.1 [***] Section
3.1
 [***] Redacted pursuant to a confidential treatment request.
 16




---



##### 



Non-Assertion of Rights
 Section 14.2(a)) Section 3.3(a)
 Section 3.3(a)
 Sublicensing and Subcontracting
  Section 3.4(a) Section 7.1 Section 7.5 Section 9
 17




---



##### 



provided Section
3.4(b)
 Right to Subcontract Section 9
   provided
 provided Section
3.4(c)(ii)
 Liability for Affiliates, Sublicensees and Subcontractors
 Improvements
 Improvement Notice
 18




---



##### 



Section 3.1 Section 6.3 Section 3.1 Section 6.4
 Patent Challenges
 Patent Challenge
  No Implied License provided Section 3
 Section 4.DEVELOPMENT, REGULATORY APPROVALS AND MARKETING
 Development Plan [***] [***]
 [***] Redacted pursuant to a confidential treatment request.
 19




---



##### 



[***] Development Plan Exhibit D Section
4.3(c)(ii) [***]
 Development Responsib Sections
4.3(d)(i) 4.3(d)(iii) [***] [***] Section
4.2 Section 6.3
 Steering Committee
 Formation and Membership Steering Committee Pfizer Chair Section
9
 Meetings Steering Committee Meeting
 [***] Redacted pursuant to a confidential treatment request.
 20




---



##### 



Responsibilities
 [***]
 [***]
  [***] [***]
 [***]
 Section 4.3(c)(vi)
  [***]
  Section 5.2(b)
  [***] Redacted pursuant to a confidential treatment request.
 21




---



##### 



Decision-Making by the Steering Committee provided however provided, further however
 [***]
 Section 4.3 [***]
 [***] [***]
 [***] [***]
 Minutes
 [***] [***] [***] [***] [***] [***] [***]
 Protalix Withdrawal from Steering Committee Withdrawal Notice Section 4.3(g) Section
4 Section
4.3(g) Section
4.3(g)
 [***] Redacted pursuant to a confidential treatment request.
 22




---



##### 



Section 4.3(g) Section 4.3(d) Section 4.3(c)(vi) Section 4.12 Section 4.3(g) Section 4
 Records
 Diligence provided [***] Section 5.6 provided further however Section 8.7 [***] [***] Section 5.6(a) Section 5.9
 [***] Redacted pursuant to a confidential treatment request.
 23




---



##### 



Regulatory Affairs
 Copies of Regulatory Filings
 [***]
 [***]
 [***] [***] [***]
 [***]
 [***] [***]
 Cooperation [***]
 Rights of Reference and Access to Data
 [***]
 [***]
 [***] Redacted pursuant to a confidential treatment request.
 24




---



##### 



CPP
 Assignment of Contracts
 Responsibility Sections 4.3(d)(i) 4.3(d)(iii) provided Section
4.6(b)
 Pharmacovigilance [***]
 Communications with Regulatory Authorities
 [***] [***]
 [***] Redacted pursuant to a confidential treatment request.
 25




---



##### 



[***] provided [***]
 [***] provided [***] [***] [***] [***] provided [***]
  provided provided
 Regulatory Information
 [***] Redacted pursuant to a confidential treatment request.
 26




---



##### 



Recalls or Other Corrective Action provided however [***]
 Commercialization and Pricing
 Exhibit G Initial Commercialization
Plan) Commercialization
Plan
 [***] [***]
  [***] Redacted pursuant to a confidential treatment request.
 27




---



##### 



Early Access Programs
 Trademarks
 Assignment Exhibit H [***]
 Choice of Trademarks Product Marks
 License to Protalix
 Quality Control
      [***] Redacted pursuant to a confidential treatment request.
 28




---



##### 



Prosecution and Maintenance of Product Marks
 [***] Section 4.8(e) [***]
 Section 4.9(e)(i) [***]
 Enforcement of Product Marks
  [***] Redacted pursuant to a confidential treatment request.
 29




---



##### 



[***]
 Section 4.9(f)(i)
 Use of Names
   [***] Redacted pursuant to a confidential treatment request.
 30




---



##### 



Access to Information Section 4.11
 Information Rights [***] [***]
 [***]
 Scope of Sections 4.12 and 4.13 Sections 4.12 and 14.13
 Section 5. MANUFACTURE AND SUPPLY
 Supply Chain Committee
 Formation and Membership Supply Chain Committee
 [***] Redacted pursuant to a confidential treatment request.
 31




---



##### 



Meetings Supply Chain Committee
Meeting
 Responsibilities
 Section 5.3
 Section 5.5(b)
 Section
5.14
      32




---



##### 



Decision-Making Section 5.1(e)
 Technical Subcommittee Technical Subcommittee
 Capacity
 [***] [***]
 [***] [***] [***] [***] [***] [***] [***] [***]
 [***] [***] Allocation Percentage Capacity Cap
 [***] Redacted pursuant to a confidential treatment request.
 33




---



##### 



Section 5
  Development Supply of Drug Substance Section 5 [***] Section 6.3 Section 6.3
 Commercial Supply of Drug Substance Section 5
 Fill/Finish; Certain Other Manufacturing Activities
 [***]
 [***]
 [***]
 [***]
 [***]
 Forecasting and Ordering
 Forecasts; Purchase Orders [***]
 [***] Redacted pursuant to a confidential treatment request.
 34




---



##### 



Section 5.14 Initial Forecast Purchase Order Section
5.6(d) Forecast Section 5.6(d) Section
5.6(a) Section 5.6(c) [***] [***] Section 5.6(a)
 Long Range Capacity Planning Section 5.6(a) Long Range
Forecast Section 5 [***] [***]
 Maximum Quantities [***] [***]
 [***] Redacted pursuant to a confidential treatment request.
 35




---



##### 



Minimum Quantities [***] [***] [***] [***] [***] [***]
 Receipt and Acceptance Sections 5.6(c) 5.6(d) [***] Section 5.6(e) Section 18.8
 Pricing, Invoicing and Supply Price Reconciliation
 Supply Delivery Price; Invoices
 [***] Estimated Price
 [***] [***]
 [***] [***] Section 7.1
 Taxes
 [***] Redacted pursuant to a confidential treatment request.
 36




---



##### 



Financial Records; Audits [***] Section 7.5
 5.8.
    
    Shipping and Delivery.
 Delivery Section 5.6(c) Section 5.8 [***] [***] [***] [***] [***]
 Delivery Terms [***] [***] [***] [***] [***]
 Retention
 Compliance; Quality Control Obligations
 [***]
 [***] [***] [***]
 Certificate of Analysis; Acceptance and Returns
 P&L Certificate of Analysis; Notice of Non-Conformance
  [***] Redacted pursuant to a confidential treatment request.
 37




---



##### 



Manufacturing Certificate of
Analysis [***] Section 5.10(b) [***] Notice of Non-Conformance Sections 5.10(a)(ii) 5.10(b)
  Rejection [***] [***] Non-Conformance Period [***] [***]
 Disputes [***] [***]
 Remedies [***] Section 5.10 provided [***]
 [***] Redacted pursuant to a confidential treatment request.
 38




---



##### 



Product Specification and Manufacturing Changes provided Section 4
 Master Cell Bank provided
 Shortages [***] [***] [***] [***] [***] [***]
 Safety Stock Obligations
 Build-Up Section 5.14(c) Safety Stock [***] Section 5.14(b) [***] Section 5.13
 [***] Redacted pursuant to a confidential treatment request.
 39




---



##### 



Sharing of Responsibility and Cost
 Section
5.6 [***] [***] Section 5.7 Section 5.8
 Section 5.6 Clinical and Commercial Forecast [***] [***]
  Limitations Sections 5.14(a) 5.14(b) [***]
 Certain Supply Chain Issues
 [***] Section 5.14(c) [***] [***] [***] [***] Significant Supply Chain Event
  [***] Redacted pursuant to a confidential treatment request.
 40




---



##### 



Section
5.15(a)
 [***]
 Other Assistance by Pfizer Advisory Services [***] [***]
 [***] Redacted pursuant to a confidential treatment request.
 41




---



##### 



Failure to Supply
 Failure to Supply Section 5.6(c) [***] [***] [***] Supply Failure [***] [***] [***] [***] [***] [***] Section
5.15 Section 5.17(a) [***] [***] [***] Section
5.6(c)
 [***]
 Allocation of Costs
 Capital Expenditure [***]
 Operating Costs Section 7.1(c)(iv) Section 5.17(b) [***]
 [***]
 Manufacturing Covenants
  [***] Redacted pursuant to a confidential treatment request.
 42




---



##### 



C-TPAT
 C-TPAT Benefits Section 5.18(a)
 [***]
 [***]
 Section 6. FINANCIAL PROVISIONS
 Effective Date Payment
 Event Milestone Payments
 Event
Milestone
 Event Milestone
    
    Event Milestone PaymentCommencement of [***](Event Milestone 1)
    
    $[***]Regulatory Approval of the first Licensed Product in the United States (Event Milestone 2)
    
    $[***]
 [***] Redacted pursuant to a confidential treatment request.
 43




---



##### 



Regulatory Approval of the first Licensed Product in the European Union via the centralized approval procedure
(Event Milestone 3)
    
    $[***]Earlier of (a) [***]and (b) [***]
    
    $[***]Submission of [***]for the Licensed Product to [***](Event
Milestone 5)
    
    $[***]
 [***]
 [***] [***]
 Section 6.2(a) [***]
   SECTION 6.2
 Development Costs
 [***] [***] provided [***] [***] Exhibit D [***]
 [***] [***] [***] [***]
 [***] Redacted pursuant to a confidential treatment request.
 44




---



##### 



[***] [***] [***] Development Costs [***] [***]
 [***] [***] [***] [***] [***] Development Costs [***] [***]
 Combined [***] [***] [***] [***] [***] [***] [***] [***] provided [***]
 Combined [***] [***] [***] [***] [***] [***] provided [***]
 [***] [***] [***] [***] [***]
 Development Costs Outside the United States and the European Union [***] [***] [***] Ex-US/EU Development Costs provided Section 6.4(a) [***] [***] provided further [***] [***] [***]
 Other Development Costs [***] [***] Section 6.3(a) Section 6.3(g) Additional Development Costs [***]
 [***] Redacted pursuant to a confidential treatment request.
 45




---



##### 



[***] [***] [***] [***] [***]
 Payments Section 6.3
 Sharing of Net Profit and Net Loss
 Sharing of Net Profits Section 5.7(a)(iii)
 Sharing of Net Loss
 Section 6.4(b)(ii) Section 5.7(a)(iii)
 [***] Accumulated
Net Loss [***] [***] provided [***]
 Section 7. ACCOUNTING AND PROCEDURES FOR PAYMENT
 Periodic Reporting and Reconciliation Payments
 Quarterly Reports; Annual Reports
 [***] Reporting Period
 [***] Redacted pursuant to a confidential treatment request.
 46




---



##### 



Exhibit E Exhibit E Section 6.4 Section 5.7(a)(iii)
 Section 7.1(a)(i) Section
7.1(a)(i) Section 7.1(a)(ii) Section 7.1(a)(i)
 Section 7.1(a)(i) [***]
 Section 6.4(b)(ii) Section 5.7(a)(iii)
 Section 7.1(a)
 Quarterly Reconciliation Payment Section 7.1(a)(i) Section 6.4(b)(ii)
 Annual Reconciliation Payment Section 7.1(a)(iv)
 [***] [***] [***] [***] provided
 [***] Redacted pursuant to a confidential treatment request.
 47




---



##### 



Section 6.4(b)(ii)
 Section 6.4(b)(ii) provided Section 6.4(b)(ii)
 [***] Section
6.4(b)(ii)
 [***] [***] [***]
 [***] [***] [***] [***] [***] [***] [***] provided Section
6.4(b)(ii))
 [***] [***] [***] [***]
 [***] Redacted pursuant to a confidential treatment request.
 48




---



##### 



[***] [***] provided Section
6.4(b)(ii)
 [***] [***] [***] [***] [***] [***] provided Section 6.4(b)(ii)
 Reimbursement of Protalix Uncapped Expenses
 Disputes Section 7.1(a) Section 7.1(b)
 Reconciliation After Termination Section 7.1(c) Section 7.1(c) Section 14.4
 Inter-Company Sales
 Currency [***]
 [***] Redacted pursuant to a confidential treatment request.
 49




---



##### 



[***] provided
 Method of Payments
 Appendix 7.4(a)
 Appendix 7.4(b)
 Inspection of Records [***] provided further
 [***] Redacted pursuant to a confidential treatment request.
 50




---



##### 



Section 7.1(a) Section 6.4 Section 6.4(a)
 Section
5 Section 6.4(a)
 Tax Matters
 VAT
 Tax Cooperation Sections 7.6(c)(c)(i) (c)(ii)
 Withholding Tax Matters
 51




---



##### 



Sections 6.1 6.2 [***]
 Section 6.4 Tax Treaty Rate [***]
  Tax
Action
 Section 8. PATENTS AND INFRINGEMENT
 Filing and Prosecution Sections 8.2 8.5
   [***] Redacted pursuant to a confidential treatment request.
 52




---



##### 



[***] [***] [***] [***] Section 8.1
 Correspondence [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***]
 [***] provided [***] [***] [***] [***] [***]
 [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***] [***]
 [***] Redacted pursuant to a confidential treatment request.
 53




---



##### 



[***] [***] [***] [***] [***] [***]
 Maintenance [***] [***] [***] [***]
 Notices and Encumbrances Section 8.3 [***] [***] Section 8.4 [***]
 Patent Term Extensions [***]
 [***] Redacted pursuant to a confidential treatment request.
 54




---



##### 



[***] Section 8.5 [***] Section 8.5 [***]
 Interpretation of Patent Judgments
 Third Party Royalty Obligations
 Appendix 15.1(c) [***]
 [***]
 [***] Redacted pursuant to a confidential treatment request.
 55




---



##### 



Third Party Infringement
 Infringement of Protalix Patent Rights in the Field.
 [***] [***] [***] [***]
 Section 8.8(a)(i) [***] [***] [***] Section 8.8(a)(ii)
 [***] [***] [***] [***] Section 8.8(a)(iii)
 Infringement of Protalix Patent Rights [***]. [***] [***]
 [***] Redacted pursuant to a confidential treatment request.
 56




---



##### 



Section 4.3(b) [***] [***] Section 8.8(b)
 Paragraph IV Notices
 [***] Paragraph IV Notice [***] [***] [***]
 Section 8.9(a) [***] [***] [***] Section 8.9(b)
 [***]
 Other Actions by a Third Party [***] [***] [***] [***] [***]
 [***] Redacted pursuant to a confidential treatment request.
 57




---



##### 



[***] [***] [***] [***]
 Compensation [***]
 Patent Marking
 In-Licensed Patents Section 8 i.e., [***] [***]
 Section 9. CONFIDENTIALITY; PUBLICATION
 Confidential Information
   Permitted Disclosure of Confidential Information
 Disclosure of Protalix Confidential Information
 Section 9 provided
 [***] Redacted pursuant to a confidential treatment request.
 58




---



##### 



Disclosure of Pfizer Confidential Information
 Section 9
 Section 9.2(b)(i)
 Section 9.4
 59




---



##### 



Section 9.2(b)(iii)
 Publication
 Section 9.3(d)
 Section 9.3(c) Section 9.3(d) [***] [***]
 Section 9.3(b) Section 9.3(b) Section 9.3(c)
 Section 9.3
 Publicity
 Exhibit
F
 [***] Redacted pursuant to a confidential treatment request.
 60




---



##### 



Sections 9.3, 9.4(a) 9.4(c) Section 9.4;
 Section 9.4(b) [***] provided
 Sections 9.3 9.4(a)
 Filing, Registration or Notification of the Agreement Redacted
Agreement
 [***] Redacted pursuant to a confidential treatment request.
 61




---



##### 



Section 10. REPRESENTATIONS, WARRANTIES AND COVENANTS
 Protalix Representations, Warranties and Covenants
     62




---



##### 



Exhibit B
 Exhibit B
   Exhibit B
  Exhibit C
 63




---



##### 



Government
Official
 64




---



##### 



Appendix 10.1(t)
 Exhibit I
 Manufacturing Representations, Warranties and Covenants
    65




---



##### 



[***]
      Section 5.8(a)
 provided
 [***] Redacted pursuant to a confidential treatment request.
 66




---



##### 



Section 10.2 Sections
10.2(a) 10.2(b) [***] Section 10.2 Section 10.2 [***]
 Environmental Representations, Warranties and Covenants
 Compliance With Environmental Laws
  Environmental Permits
 [***] Redacted pursuant to a confidential treatment request.
 67




---



##### 



Notice to Other Party
 Equipment
 Environmental, Health and Safety Reviews
 Pfizer Representations, Warranties and Covenants
  68




---



##### 



[***] [***] [***]
 Disclaimer of Warranty
 [***] Redacted pursuant to a confidential treatment request.
 69




---



##### 



Section 11. ADDITIONAL COVENANTS
 Restrictions on Transfers and Liens Section 18.5 Section 11.1
 Third Party Licenses and Agreements [***] [***] [***] [***] [***] [***] Section
18.5
 [***]Letter Agreement [***] Exhibit J [***] Section 11.2 [***]
 [***] Redacted pursuant to a confidential treatment request.
 70




---



##### 



Compliance with Laws
 Coordination outside the Territory
 Operational Plan Appendix 11.6
 Section 12. NON-COMPETITION
 Pfizer Non-Compete Section 14.2(c) (ii) Section 14.2(c) [***] Section 12.3
 Protalix Non-Compete [***]
 Acquisition of Competing Product Section 12.1 [***] [***]
 [***] Redacted pursuant to a confidential treatment request.
 71




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##### 



Section 13. TERM
 Section 14 Term
 Section 14. TERMINATION
 [INTENTIONALLY OMITTED]
 Termination Rights
 Section 5.17(b) Section 14.2(a)
 Section 14.2(b) Section 14.2(b) Section 14.2(b) Section 14.2(b) Section
14.2(b)
 [***] Section 14.2(c) Notice [***] [***] Section 14.2(c) Termination
 [***] Redacted pursuant to a confidential treatment request.
 72




---



##### 



Notice
Period provided however Section 14.2(c) [***] Section 14.4(a)
 Section
3.6(b)
 Continuing and Accrued Obligations and Surviving Provisions Section 14.3 Section 6.4(a) Section 14.4(c) Section 6.4(b) Section 14.4(c)
 [***] Redacted pursuant to a confidential treatment request.
 73




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##### 



Effects of Termination Section 14 Section
14.3, Section 14.4 Section 18.5
 Section 14.2 Section 14.4(b)
       Section 14.4(a)(i) Section 14.2(a) Section 14.2(c)
 74




---



##### 



Section 14.2(a) (d) Section 14.2(c) Section 4.10(a)(i)
  Section 14.2(a) Section
14.2(d)
 Section 14.2(b) Section 14.4(a)
   75




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##### 



[***] [***] Section 14.4(a) Section 14.2(c) Section 14.4(a)
 Section 14.4(c)(i) Section
14.4(a) Section
14.2(c) Section 14.4(a)
 Section 14.2(a) (d) Section 14.2(a)
 Section 14.4
 Bankruptcy
 [***] Redacted pursuant to a confidential treatment request.
 76




---



##### 



Section 15. INDEMNIFICATION AND INSURANCE
 Indemnification
 Section 15.3
   Section 14.4 Section
14.4(b)(ii)
 Section
15.1(b)
  77




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##### 



Section 15.1(a) Section 15.1(c)
 Section 15.1(a) Appendix 15.1(c)
 Losses Losses
 Defense Procedures; Procedures for Third Party Claims
 Third Party Claim Indemnified Party Indemnifying Party provided however
 provided
 78




---



##### 



Section 15.1
  Certain Other Losses
 Section 15.1(a) Section 15.1(c) Section 15.1(b) [***] Section 15.3 Section 15.3 Product Liability Claim Section 14.4(c)
 Section 15.1(a) Section 15.1(c) Section 15.1(b) [***] Section 15.3 Section 15.3 Third Party Infringement Claim
 [***] Redacted pursuant to a confidential treatment request.
 79




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##### 



Section 15.1(a) Section
15.1(c) Section 15.1(b) [***] [***]
 Section 15.4 Section 7.1(c) [***] [***]
 Disclaimer of Liability for Consequential Damages SECTION 15 SECTION 9 SECTION 15.5
 Sole Remedy SECTION
15
 Insurance Requirements
 Protalix Insurance Generally
 [***] Redacted pursuant to a confidential treatment request.
 80




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##### 



Protalix
Insurance Policies
   Protalix Insurance Requirements
  [***]
  [***] Redacted pursuant to a confidential treatment request.
 81




---



##### 



[***]
 [***]
   Pfizer Insurance Generally
 Pfizer Insurance
Policies
   Pfizer Insurance Requirements
  [***] Redacted pursuant to a confidential treatment request.
 82




---



##### 



[***]
  [***]
 [***]
  [***]
 Section 16. STANDSTILL
 Standstill Provisions [***]
 Exchange Act Voting Securities [***] [***]
 SEC
  [***] Redacted pursuant to a confidential treatment request.
 83




---



##### 



Business Combination Transaction
 Sections 16.1(a) 16.1(d)
 Exceptions Sections
16.1(a) 16.1(e) Standstill Provisions
 Section 16.2
 Termination of Standstill Provisions Section 16.1 Section 16.1 Trigger Event
 84




---



##### 



[***] [***] Acquisition [***] [***] [***] [***]
 Section 16 Section 9
 Sales Process Section 16
 [***] Redacted pursuant to a confidential treatment request.
 85




---



##### 



Section 17.GOVERNING LAW AND JURISDICTION
 Governing Law
 Jurisdiction Section 7.5 Court
 Section 18.MISCELLANEOUS
 Force Majeure Force Majeure Event
 [***] Redacted pursuant to a confidential treatment request.
 86




---



##### 



Severability provided however
 Waivers
 Entire Agreements; Amendments
 Survival Section 3.3(a) Section 5.2(b) Section 7.1(f) Section 7.5 Sections 9.1 9.2 Section
10.5 Sections 14.3 14.4 Section 15 Sections 17.1 17.2
 [***] Redacted pursuant to a confidential treatment request.
 87




---



##### 



Assignment; Binding Effect
 provided however provided
 Section 18.5
  Independent Contractor
 Notices
 If to Protalix:
    
    Protalix Ltd.2 Snunit StreetScience ParkP.O.B 455Carmiel 20100, IsraelAttention:
    
    Chief Executive OfficerFacsimile:
    
    972-4-988-9489If to Pfizer:
    
    Pfizer Inc.235 East 42nd StreetNew York, New York, 10017-5755U.S.A.Attention:
    
    President and General Manager of
the Established Business Products UnitFacsimile:
    
    +1 (212) 351-1049
 88




---



##### 



with a copy to:Attention:
    
    Chief Counsel, Established Products Business UnitFacsimile:
    
    +1 (212) 351-1049
 Section 18.8
 Third Party Beneficiaries
 Binding Effect
 Performance by Affiliates provided
 Corporate Integrity Agreement
 Counterparts
 Headings
 Equitable Remedies
 89




---



##### 



Protalix Ltd.
    
    Pfizer Inc.By:
    
    /s/ David Aviezer

Name: David Aviezer
    
    By:
    
    /s/ David Simmons

Name: David SimmonsTitle: President and CEO
    
    
    
    Title: President and General Manager, Established Products BUDate:  November 30, 2009
    

    Date:  November 30, 2009




---



##### 



Protalix Pfizer Agreement Protalix
Parent Section 18.11 Section 17.1 17.2
  By:Name:
    David AviezerTitle:
    President and CEO




---



##### 



EXHIBIT A
  EFARPCIPKS
    
    FGYSSVVCVC
    
    NATYCDSFDP
    
    PTFPALGTFS
    
    RYESTRSGRR
    
    MELSMGPIQA61
    
    NHTGTGLLLT
    
    LQPEQKFQKV
    
    KGFGGAMTDA
    
    AALNILALSP
    
    PAQNLLLKSY
    
    FSEEGIGYNI121
    
    IRVPMASCDF
    
    SIRTYTYADT
    
    PDDFQLHNFS
    
    LPEEDTKLKI
    
    PLIHRALQLA
    
    QRPVSLLASP181
    
    WTSPTWLKTN
    
    GAVNGKGSLK
    
    GQPGDIYHQT
    
    WARYFVKFLD
    
    AYAEHKLQFW
    
    AVTAENEPSA241
    
    GLLSGYPFQC
    
    LGFTPEHQRD
    
    FIARDLGPTL
    
    ANSTHHNVRL
    
    LMLDDQRLLL
    
    PHWAKVVLTD301
    
    PEAAKYVHGI
    
    AVHWYLDFLA
    
    PAKATLGETH
    
    RLFPNTMLFA
    
    SEACVGSKFW
    
    EQSVRLGSWD361
    
    RGMQYSHSII
    
    TNLLYHVVGW
    
    TDWNLALNPE
    
    GGPNWVRNFV
    
    DSPIIVDITK
    
    DTFYKQPMFY421
    
    HLGHFSKFIP
    
    EGSQRVGLVA
    
    SQKNDLDAVA
    
    LMHPDGSAVV
    
    VVLNRSSKDV
    
    PLTIKDPAVG481
    
    FLETISPGYS
    
    IHTYLWHRQD
    
    LLVDTM
 A-1




---



##### 



EXHIBIT B
  [***]
 [***]
 B-1




---



##### 



EXHIBIT C
  [***]
 [***]
 C-1




---



##### 



EXHIBIT D
  [***]
 [***]
 D-1




---



##### 



EXHIBIT E
  [***]
 [***]
 E-1




---



##### 



EXHIBIT F
  For Immediate Release:
    
    Pfizer Contacts:December 1, 2009
    
    Joan Campion (Media)212 733-2798Joan.Campion@Pfizer.comSuzanne Harnett (Investors)212 733-8009Suzanne.Harnett@Pfizer.comProtalix Contacts:Brad Miles (Media)BMC Communications Group, LLCBmiles@bmccommunications.com917 570 7340Marcy Nanus (Investors)The Trout Group, LLC646 378 2927Mnanus@troutgroup.com
 Pfizer And Protalix Enter Into Agreement To Develop And Commercialize
 Gauchers Disease Treatment
 
 New Drug Application (NDA) expected to be filed with FDA for novel enzyme replacement therapy with
Fast Track Orphan Drug designation
 New York, NY, 2009
 F-1




---



##### 



F-2




---



##### 



About Gauchers disease
  About Protalix
 ()
 Pfizer Inc.: Working together for a healthier world
  F-3




---



##### 



DISCLOSURE NOTICE: The information contained in this release is as of December 1, 2009, and neither
Pfizer nor Protalix assume any obligation to update forward-looking statements contained in this
release as the result of new information or future events or developments.
 This release contains forward-looking information about taliglucerase alfa, a product candidate
that is the subject of a global development and commercialization agreement between Pfizer and
Protalix, including its potential benefits and the anticipated filing of a new drug application
with the FDA that involves substantial risks and uncertainties. Such risks and uncertainties
include, among other things, the uncertainties inherent in research and development; decisions by
regulatory authorities regarding whether and when to approve any drug applications that may be
filed for such product candidate as well as their decisions regarding labeling and other matters
that could affect its availability or commercial potential; and competitive developments.
 A further description of risks and uncertainties with respect to Pfizer can be found in Pfizers
Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and in its reports on Form
10-Q and Form 8-K. A further description of risks and uncertainties with respect to Protalix can
be found in Protalixs Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and
its reports on Form 10-Q.
  F-4




---



##### 



EXHIBIT G
  [***]
 [***] Redacted pursuant to a confidential treatment request
 G-1




---



##### 



EXHIBIT H
  TRADEMARK ASSIGNMENT
 Assignor
 Assignee
  Protalix Ltd.Date:  November 30, 2009
    By:Name:
    David AviezerTitle:
    President and CEO 
 H-1




---



##### 



Notary Public
 Pfizer Inc.Date:      November 30, 2009
    By:Name:
    David SimmonsTitle:
    President and General Manager, Established
Products BU 
 Notary Public
 H-2




---



##### 



Schedule for Trademark Assignment
 [***]
 [***] Redacted pursuant to a confidential treatment request
 H-3




---



##### 



EXHIBIT I
  Protalix Pfizer Agreement
 Section 10.1(t)
 1.
    
    It has been provided with a copy of Pfizers International Anti-Bribery and
Anti-Corruption Procedure; and2.
    
    In connection with this Agreement, it has not made any payments or provided any benefit
to a Government Official, as defined in Pfizers International Anti-Bribery and
Anti-Corruption Principles, to induce such Government Official to make any governmental act
or decision to help the Parties obtain or retain business and have not made a payment or
offered any item or benefit, regardless of values as improper inducement for such
Government Official to approve reimburse, prescribe, or purchase a Product, to influence
the outcome of a clinical trial, or other wise improperly to benefit the Pfizers business
activities.
  
  I-1




---



##### 



EXHIBIT J
 FORM OF [***] LETTER AGREEMENT
 [***]
 [***] Redacted pursuant to a confidential treatment request
 J-1




---



##### 



EXHIBIT K
 [***]
 [***]
 [***] Redacted pursuant to a confidential treatment request
 K-1