**EXHIBIT        10.24**

**EXECUTIVE TERMINATION AGREEMENT AND GENERAL RELEASE**

This EXECUTIVE TERMINATION AGREEMENT AND GENERAL RELEASE (“Executive        Termination Agreement” or “Agreement”) is entered into between Alan        Fuhrman (“Executive”) and Sonus Pharmaceuticals, Inc. (to be renamed        “OncoGenex Pharmaceuticals, Inc.”) (referred to herein as “Sonus”        or “Employer”).

WHEREAS, both parties to this Agreement wish to clearly set forth the terms        of Executive’s termination for “Good Reason” from employment with        Employer.

Now, THEREFORE, in exchange for the severance pay and other benefits        described in this Agreement, Executive and Employer agree as follows:

1.         As a result of the        restructuring of Employer’s operations, Executive’s employment with Employer        shall terminate effective as of the date set out in the written notice from Sonus to        Executive (“Termination Date”), which notice is attached hereto as Exhibit A,        and be deemed a termination for “Good Reason.”

2.         Executive represents        and agrees that, with the exception of the compensation and benefits to be provided to        Executive pursuant to the terms of the January 11, 2008 Letter Agreement signed by        Executive and Sonus, a copy of which is attached hereto as Exhibit B (“January 2008        Severance Agreement”), he has received all compensation owed to him by Employer        through his Termination Date, including any and all wages, bonuses, commissions, earned but        unused vacation, reimbursable business expenses, incentives, stock options, and any other        payments, benefits, or other compensation of any kind to which he was entitled from        Employer.

3.         In reliance on        Executive’s promises, representations, and releases in this Agreement, after        Employer’s receipt of this executed Executive Termination Agreement and provided that        Executive does not revoke this Agreement pursuant to Paragraph 7, Employer will provide to        Executive all compensation and benefits set out in the January 2008 Severance Agreement. A        severance payout of $255,900.00, plus accrued vacation and executive life and disability        premium reimbursement, will be made on August 29, 2008.

4.         In exchange for the        consideration provided to Executive as set forth above, Executive agrees to waive and        release all claims, known and unknown, which he has or might otherwise have had against        Employer, on behalf of itself and all of its past or present parent, subsidiaries, and        related entities, employer-sponsored employee benefit and/or welfare plans, and all of        their past and present officers, directors, shareholders, executives, managers,        supervisors, agents, employees, trustees, representatives, affiliates and successors        (hereinafter collectively referred to as “the Released Parties”), arising prior        to the date he/she signs this Agreement, including without limitation, any and all claims        regarding any aspect of his/her employment, compensation, or the termination of his/her        employment with Employer, the Age Discrimination in Employment Act of 1967, the Americans        with Disabilities Act of 1990, Title VII of the Civil Rights Act of 1964, 42 U.S.C. section        1981, the Fair Labor Standards Acts, the WARN Act, all Washington anti-discrimination        statutes and labor laws, the Employee Retirement Income Security Act, 29 U.S.C. section        1001,etseq., all as amended, any other federal, state        or local law, regulation or ordinance or public policy, contract, tort or property law        theory, or any other cause of action whatsoever that arose on or before the date Executive        signs this Agreement.

 

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5.         It is further        understood and agreed that as a condition of this Agreement, all claims against the        Released Parties, known and unknown, are expressly waived by Executive. Thus, for the        purpose of implementing a full and complete release and discharge of the Released Parties,        Executive expressly acknowledges that this Agreement is intended to include and does        include in its effect, without limitation, all claims which Executive does not know or        suspect to exist in his favor against the Released Parties at the time of execution hereof,        and that this Agreement expressly contemplates the extinguishment of all such        claims.

6.         Executive agrees to        withdraw with prejudice all complaints or charges, if any, he has filed against any of the        Released Parties with any agency or court. Executive agrees that hereafter he will never        file any lawsuit, complaint, or charge against any Released Party based on the claims        released in this Executive Termination Agreement.

7.         The release in this        Agreement includes, but is not limited to, claims arising under federal, state or local law        for age, race, sex or other forms of employment discrimination and retaliation. In        accordance with the Older Workers Benefit Protection Act, Executive acknowledges and agrees        that:

(a)        Executive has        read and understands this Agreement in its entirety;

(b)       Executive has been advised by        this writing to consult with an attorney concerning this Agreement before signing        it;

(c)       Executive has forty-five (45)        calendar days after receipt of this Agreement to consider its terms before signing        it;

(d)       Executive has the right to        revoke this Agreement in full within seven (7) calendar days of signing it by notifying        Employer in writing of such revocation, and none of the terms and provisions of this        Agreement shall become effective or be enforceable until such revocation period has        expired;

(e)       Employer has provided Executive        with information in writing (see Exhibit “D” attached hereto) describing        (1) the eligibility factors for receipt of benefits, (2) the group of executives,        including the job title and age of each, eligible to receive benefits, (3) the ages of all        individuals in the same job classification or organizational unit who are not eligible to        receive benefits, and (4) any time limit applicable to the availability of such        benefits;

(f)        Nothing contained in this        Agreement waives any claim that may arise after the date of its execution; and

(g)       Executive executes this        Agreement knowingly and voluntarily, without duress or reservation of any kind, and after        having given the matter full and careful consideration.

8.         Executive, Employer        and the Releasing Parties agree that they will not disparage or talk negatively about each        other to anyone.

9.         Executive        understands and acknowledges the significance and consequences of this Agreement. Executive        acknowledges that it is voluntary and he has not signed it as a result of any coercion.        Executive acknowledges that he/she was given sufficient time to consider this Agreement,        and that he has signed it only after giving careful consideration to its terms.

 

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10.       Executive further acknowledges        that during his employment, he has executed Insider Trading and Confidentiality Agreements        attached hereto as Exhibit C. Executive understands and agrees that these agreements shall        remain in full force and effect after Executive’s termination. Executive further        acknowledges, understands and agrees that Executive has continuing obligations to the        Company under these Insider Trading and Confidentiality Agreements, and that the severance        consideration outlined in this Executive Termination Agreement would not have been provided        to Executive without his/her express agreement to continue to comply with the terms and        conditions of all such Insider Trading and Confidentiality Agreements.

11.       Executive has returned or will        return to Employer prior to the payment of severance pursuant to this Agreement, all of the        Company’s property and documents in his possession or under his control, including,        without limitation, all keys and card key badges to company buildings or property, all        company owned equipment, and all reports, documents, software, manuals, controls,        equipment, files, materials, data, trade secrets, confidential or proprietary information,        passwords, employee information, any other Company information in his/her possession and        any and all copies thereof in whatever form, whether hard copies, electronic or        otherwise.

12.       This Executive Termination        Agreement shall not be construed against any party merely because that party drafted or        revised the provision in question, and it shall not be construed as an admission by any of        the Released Parties of any improper, wrongful, or unlawful actions, or any other        wrongdoing against Executive, and the Released Parties specifically disclaim any liability        to or wrongful acts against Executive.

13.       Executive acknowledges that the        Released Parties have made no promises to him/her other than those set forth in the January        2008 Severance Agreement, and this Executive Termination Agreement. Executive further        acknowledges and agrees that he/she is not entitled to receive, and will not claim, any        right, benefit, compensation, or relief other than what is expressly set forth herein in        this Executive Termination Agreement. This Agreement may be modified only by written        agreement signed by both parties.

14.       This Agreement is entered into        without reliance on any promise or representation, written or oral, other than those        expressly contained herein. It supersedes any other such promises or representations, other        than the January 2008 Severance Agreement and the Insider Trading Agreements and        Confidentiality Agreements executed by Executive during his/her employment which agreements        remain in full force and effect. This Agreement shall bind the heirs, personal        representatives, successors and assigns of both Executive and Employer. If any provision of        this Agreement is determined to be invalid or unenforceable, in whole or in part, this        determination will not affect any other provision of this Agreement and the provision in        question shall be modified by the court so as to be rendered enforceable. This Agreement        shall be deemed to have been entered into and shall be construed and enforced in accordance        with the laws of the State of Washington as any action for breach of this Agreement may        only be filed in federal or state courts applicable to King County, Washington.

15.       This Executive Termination        Agreement, the January 2008 Severance Agreement and all previously executed Insider Trading        Agreements and Confidentiality Agreements, which are incorporated herein by this reference        and remain in full force and effect, contain the entire agreement between the parties        regarding the subject matter hereof, and supersede any and all prior and

 

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contemporaneous oral and written agreements.

EXECUTIVE

Dated:     21-Aug-08                                                                                     /s/ Alan        Fuhrman                       

Executive Signature

         

                                                                                                                            Alan            Fuhrman                                 

Executive

SONUS PHARMACEUTICALS

Michael A. Martino

President/CEO

 

DOCSOC/1249949v4/019324-0007

1249949.4

 

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**EXHIBIT A**

 

**Notice        of Termination**

 

 

 

DOCSOC/1249949v4/019324-0007

1249949.4

 

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SONUSPHARMACEUTICALS,INC.

22026        20TH Avenue, Suite 201

Bothell,        Washington, 98021

 

August        19,2008

 

 

Mr. Alan        Fuhrman

c/o        SONUSPharmaceuticals, Inc.

220226 20th        Avenue, Suite 201

Bothell,        Washington 98021

 

Please be advised that pursuanttoSection 1 ofyourSeverance/Change in Control Agreement dated January 11, 2008 (the        “Agreement”), the Board of Directors has determined that your employment with        Sonus Pharmaceuticals, Inc. will terminate effective immediately prior to the Effective        Time of the Arrangement, as such terms are defined in the Arrangement Agreement, dated May        27,2008, between Sonus Pharmaceuticals, Inc. and OncoGenex Technologies, Inc.

 

We thank youforyour sustained        and dedicated service to the Company overthepast several years and wish you the best in your future        endeavors.

         

> 
Sincerely,

                                                 

SONUS PHARMACEUTICALS,                                                INC.

                                                 

/s/ Robert E. Ivy

Robert E. Ivy

Chairman of the Board

 

 

 

 

 

 

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**EXHIBIT B**

 

**Severance Agreement**

 

 

 

DOCSOC/1249949v4/019324-0007

1249949.4

 

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**EXHIBIT C**

 

**Insider Trading and Confidentiality Agreements**

 

 

 

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1249949.4

 

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**Employee Agreement Regarding        Confidential Information and Intellectual Property**

In        consideration of my employment, compensation and benefits with Sonus Pharmaceuticals, Inc.        (Sonus) and for other valuable consideration, I agree as follows:

| 1. | I will not, without the prior written permission of Sonus,                        disclose to anyone outside of Sonus, or use in any manner, other than in                        connection with the business of Sonus, either during or after my                        employment, any Confidential Information or Material of Sonus (as defined                        by provision 4 below), or any information or material received in                        confidence from third parties by Sonus. If I reveal or threaten to reveal                        Confidential Information, Sonus shall be entitled to an injunction                        restraining me from disclosing such Confidential Information, or from                        rendering any services to any entity to whom such Confidential Information                        has been or is threatened to be disclosed. The right to secure an                        injunction is not exclusive and Sonus may pursue any other remedies it has                        against me for threatened breach of this condition, including recovery of                        damages from me. |
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| 2. | If I leave the employ of Sonus, I will return all property                        of Sonus in my possession, including but not limited to, all office                        equipment, and the original and copies of all files, records, or other                        documents (whether stored on paper or electronically) as well as all                        Confidential information or Material in any form. |
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| 3. | While employed at Sonus and for the period of 2 years after                        the date of termination of my employment at Sonus (the "Restricted                        Period"), I will not, directly or indirectly, without the written                        permission of Sonus, whether for my account or for the account of any other                        Person (excluding Sonus), intentionally (i) solicit, endeavor to entice or                        induce any employee or consultant of Sonus to terminate his employment or                        relationship with Sonus or accept employment or a consultant relationship                        with anyone else, (ii) solicit, endeavor to entice or induce any customers,                        clients or potential customers or clients of Sonus to terminate their                        relationship with Sonus or (iii) interfere in a similar manner with the                        business of Sonus. In the event that this provision relating to the                        Restricted Period shall be declared by a court of competent jurisdiction to                        exceed the maximum time period such court deems reasonable and enforceable,                        the Restricted Period deemed reasonable and enforceable by the court shall                        become and thereafter be the maximum time period. While employed at Sonus,                        I will not engage in any other employment, consulting or other activity                        relating to the business in which Sonus is now or may hereafter become                        engaged or which would otherwise conflict with my obligations to                        Sonus. |
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| 4. | Confidential Information or Material of Sonus is any                        information or material, whether written, oral, visual or                        electronic: |
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|   | (a) | generated or collected by, or utilized in the operations of                        Sonus that relate to the actual or anticipated business or research and                        development of Sonus; or |
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|   | (b) | suggested by or resulting from any task assigned to me, or                        work performed by me for or on behalf of Sonus. |
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|   | (c) | Confidential Information or Material of Sonus shall include,                        but not be limited to, Sonus information encompassed in all drawings,                        designs, drugs, medical devices, formulations, test data or results,                        original writings, software in various stages of development (source code,                        object code, documentation, diagrams and flow charts), plans, proposals,                        marketing and sales plans, financial information, cost or pricing                        information, customer lists, trade secrets, ideas, suppliers and other                        information that has value to Sonus, its customers or business                        partners. |
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| 5. | I will not disclose to Sonus, use in its business, bring on                        to Sonus premises or cause Sonus to use, any information or material which                        is confidential to others. |
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| 6. | I will comply, and do all things necessary for Sonus to                        comply with, the laws and regulations of all governments under which Sonus                        does business, and with provisions of contracts between any such government                        or its contractors and Sonus that relate to the intellectual property or to                        the safeguarding of information. |
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| 7. | I agree that the fruits of my labor as an employee shall                        belong solely to Sonus. To the full extent provided by law, any and all                        inventions, products, designs, discoveries, and work product of any nature                        (collectively, the "Work Product"), whether or not patentable,                        copyrightable or trademarked, which I have conceived and/or made, in whole                        or in part, during my employment by Sonus, and which have any applicability                        to any aspect of the business or anticipated research or development of                        Sonus, or the business or anticipated research or development of any of the                        subsidiaries of Sonus, as determined by Sonus, shall be the sole and                        exclusive property of Sonus, and by the execution hereof, I hereby                        irrevocably assign, transfer and convey to Sonus all of my right, title and                        interest in and to all Work Product which may be developed during my                        employment by Sonus. To the full extent provided by law, any inventions or                        original works of authorship I conceive or create in the course of my                        employment shall be considered "works for hire" and shall belong solely and                        exclusively to Sonus. |
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This provision does not apply to any Work Product for which no equipment,        supplies, facilities, or trade secret information of Sonus was used and which was developed        entirely on my own time, unless (a) the invention related directly to the business or        anticipated research or development of Sonus, or (b) the invention results from any work        performed by me for Sonus. However, I agree to disclose inventions being developed for the        purposes of determining employer or employee rights in accordance with provision 10 below        and Washington Statute §14.05 and RCW 49.44.140 and 150.

         

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| 8. | In connection with any Work Product assigned by provision                        7: |
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|   | (a) | I will promptly communicate and disclose them to Sonus after                        such Work Product has been conceived and/or made in the detail necessary to                        permit Sonus to understand same and practice them without the exercise of                        further inventive skill; and |
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|   | (b) | I will, on the request of Sonus, promptly execute any                        documents necessary to effectuate the assignment of all rights to Sonus,                        and do anything else reasonably necessary to enable Sonus to secure a                        patent, mask work right, copyright or other form of protection therefor in                        the United States and in any other foreign country. However, my failure to                        so execute any such documents shall in no way be deemed to affect the                        assignment, transfer and conveyance of such Work Product to Sonus.                        Notwithstanding anything to the contrary in this provision, if I believe                        that a specific idea or basis of a Work Product would not have any                        applicability to any aspect of the business or anticipated research or                        development of Sonus, or the business or anticipated                        research or development of any subsidiary of Sonus, I may propose such idea                        or basis for Work Product in writing to Sonus and request consent from                        Sonus that such Work Product will not be subject to the provisions                        hereof. |
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| 9. | Sonus and its licensees (direct or indirect) are not                        required to designate me as the author or inventor of any development                        assigned in provision 7 when distributed publicly or otherwise, nor to make                        any distribution. I waive and release to the extent permitted by law all of                        my rights to the foregoing. |
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| 10. | Solely for the purpose of determining my rights or the                        rights of Sonus, I have identified on Schedule 1 hereof all inventions,                        original works of authorship, developments, improvements and trade secrets                        that were made by me prior to my engagement by Sonus or that I am currently                        developing. Such inventions include those which are not assigned by                        paragraph 7 in which I have any right, title or interest, and which were                        previously made or conceived solely or jointly by me, or written wholly or                        in part by me, and which relate to the actual or anticipated business or                        research or development of Sonus, but neither published nor filed in any                        patent office. If I do not have any to identify, I have written "none on                        this line:     NONE. |
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| 11. | For purposes of enforcing this Agreement, I hereby consent                        to jurisdiction in the Superior Court of Washington for the County of                        King. |
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| 12. | If any legal action is necessary to enforce this Agreement,                        the prevailing party shall be entitled to recover attorneys'                        fees. |
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| 13. | This Agreement does not guarantee me any term of employment,                        or limit the right of Sonus to terminate my employment at any time with or                        without cause. |
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| 14. | lf, for any reason, any provision of this Agreement is held                        invalid, such provision and all other provisions of this Agreement shall                        remain in effect to the fullest extent permitted by law. If this Agreement                        is held invalid or cannot be enforced, then to the full extent permitted by                        law any prior |
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|   | agreement between Sonus (or any predecessor thereof) and you                        shall be deemed reinstated as if this Agreement had not been                        executed. |
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| 15. | This Agreement represents the full and complete                        understanding between me and Sonus with respect to the matters set forth                        herein and supersedes all prior representations and understandings, whether                        oral or written, My obligations under this Agreement shall be binding upon                        my heirs, executors, administrators or other legal representatives or                        assigns, and this Agreement shall inure to the benefit of Sonus, its                        successors and assigns. This Agreement may not be modified, released or                        terminated, in whole or in part, except by an instrument signed in writing                        by an officer of Sonus. |
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