Exhibit 10.2


 


RESTATED
ISIS PHARMACEUTICALS, INC.

10B5-1 TRADING PLAN


 


This 10b5-1 Trading Plan,
(the “Trading Plan”), between ISIS PHARMACEUTICALS, INC.
(“Isis”) and HORWITZ &
ASSOCIATES, INC (“Broker”), is entered into effective September 30,
2005 (the “Effective Date”).  Capitalized
terms not otherwise defined herein will have the meanings given to them in Exhibit A
attached hereto.


 


Recitals.


 


(a)                                  This
Trading Plan is entered into between Isis and Broker for the purpose of
establishing a trading plan that complies with the requirements of Rule 10b5-1(c) under
the Exchange Act.


 


(b)                                  The
purpose of this Trading Plan is to provide a mechanism by which eligible
Sellers can orderly dispose of a portion of each Seller’s holdings of Stock, including Stock that such Seller has the right to acquire
under the Options.


 


(c)                                  Isis
and Broker hereby agree as follows:


 


Appointment.  Isis hereby appoints and
authorizes Broker to sell shares of Stock pursuant to the terms and conditions
set forth below and in the applicable Sellers Plan.  Subject to the terms and conditions set forth
below, Broker hereby accepts such appointment.


 


Sellers
Plans.  Each Seller may
establish up to three individual Sellers Plans with Broker in any Sales
Period.  In connection with such Sellers
Plans, each Seller will establish an account at Broker in the name of and for
the benefit of Seller (the “Plan Account”). 
Sales under each Sellers Plan cannot begin until the Broker receives (i) the
Plan Shares, to the extent such Plan Shares are currently owned by Seller, (ii) a
properly executed Seller Representation Letter and (iii) a properly
completed and executed Sellers Plan, including an acknowledgment by Isis.


 


Obligations
of Broker.  With
respect to each Sellers Plan, Broker will have the following obligations:


 


(a)                                  Broker
will sell the Plans Shares for the account of each Seller according to the
terms of the Seller’s Sellers Plan.


 


(b)                                  Broker
will not sell any Stock when broker is in possession of any material nonpublic
information concerning Isis or its securities.


 


(c)                                  Once
a Sellers Plan becomes effective, Broker will not allow Seller to exercise, any
influence over how, when or whether to effect sales of Stock pursuant to the
Sellers Plan.


 


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(d)                                  Broker
will withdraw Stock from Seller’s Plan Account in order to effect sales of
Stock under Seller’s Sellers Plan. 
Broker will exercise Options to effect such sales according to the
Seller’s Option Priority Guidelines.


 


(e)                                  Broker
will deliver the proceeds from each sale of unrestricted Stock effected under a
Sellers Plan to Seller’s Account on a normal three-day settlement basis less
any commission, commission equivalent, mark-up or differential and other
expenses of sale to be paid to Broker. 
With respect to each sale of restricted Stock, Broker will deliver the
net proceeds from such sales as soon as reasonably practicable.


 


(f)                                    Broker
will, in connection with the exercise of Options, remit to Isis the exercise
price thereof along with such amounts as may be necessary to satisfy
withholding obligations. These amounts will be deducted from the proceeds of
the sale of the Stock.


 


(g)                                 To
the extent that any Stock remains in the Plan Account upon termination of the
Sellers Plan, Broker agrees to return such Stock promptly to the Seller.


 


(h)                                 Broker
agrees to conduct all sales pursuant to each Sales Plan in accordance with the
manner of sale requirement of Rule 144 of the Securities Act and in no
event will Broker effect any sale if such sale would exceed the then-applicable
amount limitation under Rule 144 or will violate the “short-swing profit”
provisions of Section 16 of the Exchange Act.  Broker will file Forms 144 on behalf of
Seller as required by applicable law.


 


(i)                                    Promptly
after each Sale, Broker will advise Seller in writing as to the number of
shares of Stock sold, the date of each sale and the sales price.


 


(j)                                    Broker
will suspend or terminate a Sellers Plan and cancel any pending sale upon
notice from Isis of a Suspension Event (such notice to specify termination or
suspension of the Sellers Plan).  In the
event of a suspension, Broker will cancel any open orders for sales of Plan
Shares and will cease placing orders for Sales of Plan Shares under the Sellers
Plan until Broker receives written notice from Isis stating that the relevant
Suspension Event is no longer in effect. 
Upon Broker’s receipt of notice from Isis, Broker may resume placing
orders for sales of the Plan Shares in accordance with the terms and conditions
of this Trading Plan and the applicable Sellers Plan; provided,
however, that Broker will not reinstate any orders cancelled due to
a suspension and will not place any orders that would have been placed during
the suspension.


 


(k)                                Broker
will not sell more than an aggregate of 30,000 shares on any single Trading Day
for any individual Seller under all the Sellers Plans established by such
Seller.  Notwithstanding the foregoing,
Broker may sell more than this specified limit if (i) such sale is
reasonably necessary to facilitate the exercise of Options that will expire
within three Trading Days of such sale and (ii) the Company’s Chief
Financial Officer has authorized such a trade according to the notice
provisions below.


 


(l)                                    Unless
a Seller’s Sellers Plan explicitly instructs Broker to do otherwise, if Broker
exercises an option because such Option was about to expire, Broker must sell
the shares of Stock issued upon the exercise of such Option within 5 Trading
Days of exercise at the then


 


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prevailing market price for the Stock, regardless of the Minimum Sales
Prices set forth in the applicable Sellers Plan.


 


Termination;
Amendment.


 


(a)                                  Trading
Plan.  This Trading Plan may be
Terminated by Isis at any time upon written notice to Broker.  The parties hereto may amend this Trading
Plan in writing by mutual written agreement.


 


(b)                                  Voluntary
Termination of Sellers Plan.  Seller
may terminate a Sellers Plan only during the last five Trading Days of a Sales
Period by providing Broker and Isis advance written notice.  The terminations will become effective on September 30
of the Sales Period in which proper termination notice was given.


 


(c)                                  Automatic
Termination of Sellers Plan.  An
applicable Sellers Plan will automatically terminate on any of the following
dates:  (i) the date Broker is
required to terminate the Sellers Plan under Section 4(j) of this Trading
Plan, (ii) the 90th day following the date Broker receives
notice of the death of the Seller or of Seller’s termination from Isis, (iii) the
date Isis or any other entity publicly announces a tender or exchange offer
with respect to the Stock or a merger or acquisition of Isis, or (iv) the
date Broker receives notice of the commencement or impending commencement of
any proceeding relating to or triggered by Seller’s bankruptcy or insolvency.


 


(d)                                  Termination
For Breach.  Isis may terminate a
Sellers Plan immediately upon the breach of a representation or covenant
contained in the applicable Seller’s Seller Representation Letter.


 


(e)                                  No
Amendment of Sellers Plan.  Seller
may not amend a Sellers Plan.


 


General.


 


(f)                                    The
prices and share amounts set forth in this Trading Plan and in each Sellers
Plan will be automatically adjusted on a proportionate basis to take into
account any stock split, stock dividend or any change in the capitalization
similarly affecting the Stock of the Isis that occurs during the Sales Period.


 


(g)                                 This
Trading Plan, including exhibits, constitutes the entire agreement between the
parties with respect to this Trading Plan and supercedes any prior agreements
or understandings between the parties with regard to the Trading Plan.


 


(h)                                 Any
notice required to be given under this Trading Plan or a Sellers Plan will be
addressed to the relevant party at the address set forth below.


 


	
  To Broker:

  	
   

  	
  Horwitz & Associates, Inc

  
	
   

  	
   

  	
  2511 Garden Road, Suite C-225

  
	
   

  	
   

  	
  Monterey, CA
  93940

  
	
   

  	
   

  	
  Attn: Peter Albano

  
	
   

  	
   

  	
  Fax: (831) 648-1951

  



 


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  Phone: (866) 648-8010

  
	
   

  	
   

  	
   

  
	
   

  	
  w/copy to:

  	
   

  
	
   

  	
   

  	
  Horwitz & Associates, Inc

  
	
   

  	
   

  	
  630 Dundee Road

  
	
   

  	
   

  	
  Northbrook, IL
  60062

  
	
   

  	
   

  	
  Attn: Executive office

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  To Isis:

  	
   

  	
  Isis Pharmaceuticals, Inc.

  
	
   

  	
   

  	
  1896 Rutherford Road

  
	
   

  	
   

  	
  Carlsbad, CA 92008

  
	
   

  	
   

  	
  Attn: Executive Vice President

  
	
   

  	
   

  	
  Fax:     760-268-4922

  
	
   

  	
   

  	
  Phone: 760-603-2460

  
	
   

  	
   

  	
   

  
	
  with copies to:

  	
   

  	
  Linda Powell

  
	
   

  	
   

  	
  Fax:     760-918-3593

  
	
   

  	
   

  	
   

  
	
  To Seller:

  	
   

  	
  The contact information
  specified in the

  
	
   

  	
   

  	
  applicable Seller
  Representation Letter.

  



 


Notice will be deemed
sufficiently given for all purposes upon the earlier of:  (a) the date of actual receipt; (b) if
mailed, three (3) calendar days after the date of postmark; (c) if
delivered by overnight courier, the next business day such overnight courier
regularly makes deliveries; or (d) if sent by facsimile, when the sender’s
facsimile system generates a message confirming successful transmission of the
total number of pages of the notice unless, within one business day after
the transmission, the recipient informs the sender that the recipient has not
received the entire notice.


 


(i)                                    This
Trading Plan may be signed in counterparts, each of which will be an original,
with the same effect as if the signatures thereto and hereto were upon the same
instrument.


 


(j)                                    If
any provision of this Trading Plan is or becomes inconsistent with any
applicable present or future law, rule or regulation, that provision will
be deemed modified or, if necessary, rescinded in order to comply with the
relevant law, rule or regulation. 
All other provisions of this Trading Plan will continue and remain in
full force and effect.


 


(k)                                This
Trading Plan and any Sellers Plan is not an employment contract and nothing in
such plans will create in any way whatsoever any obligation on a Seller’s part
to continue in the employ of Isis, or of Isis to continue Seller’s employment
with Isis.


 


(l)                                    In
the event of any conflict between the provisions of a Sellers Plan and those of
this Trading Plan, the provisions of this Trading Plan will control.


 


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(m)                              The
parties’ rights and obligations under this Trading Plan will bind and inure to
the benefit of their respective successors, heirs, executors, and
administrators and permitted assigns.


 


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IN WITNESS WHEREOF, the
undersigned have entered into this Trading Plan as of the date first written
above.


 


	
   

  	
  ISIS
  PHARMACEUTICALS, INC.

  
	
   

  	
   

  
	
   

  	
  /s/ B. Lynne
  Parshall

  
	
   

  	
  B. Lynne
  Parshall

  
	
   

  	
  Executive Vice
  President

  
	
   

  	
   

  
	
   

  	
  HORWITZ &
  ASSOCIATES, INC

  
	
   

  	
   

  
	
   

  	
  /s/ Gerald A.
  Horwitz

  
	
   

  	
  Gerald A. Horwitz

  
	
   

  	
  Chief Executive
  Officer

  



 


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EXHIBIT A


DEFINITIONS


 


“Daily Sales Amount” has the meaning set forth in the applicable
Sellers Plan.


 


“Effective Date” means, with respect to a Sellers Plan, the date the Seller
Representation Letter was executed by Seller and accepted by Broker.


 


“Exchange Act” means the Securities Exchange Act of 1934, as amended.


 


“Options” means the outstanding stock options issued by Isis listed in
the applicable Sellers Plan.


 


“Option Priority Guidelines” has the meaning set forth in the
applicable Sellers Plan.


 


“Minimum Sales Price” has the meaning set forth in the applicable
Sellers Plan.


 


“Plan Shares” means (i) the Stock and (ii) the Stock issuable
upon exercise of the Options, to be sold pursuant to the Sellers Plan.


 


“Rule 144” means Rule 144 under the Securities Act.


 


“Sales Period”  The first Sales
Period will begin on the effective date of this Trading Plan and will end on September 30,
2002.  Thereafter, Sales Periods will begin
every year on October 1 (beginning with October 1, 2002) and will end
on September 30 of the following year until this Trading Plan or the
applicable Sellers Plan is terminated.


 


“Sellers Plan” means a Sellers Plan in the form attached hereto as Exhibit B
entered into between Broker and a Seller.


 


“Securities Act” means the Securities Act of 1933, as amended.


 


“Seller Representation Letter” is the seller representation letter, a
form of which is attached hereto as Exhibit C.


 


“Seller” means Isis’ executive officers, members of its Board of
Directors and other individuals specified by Isis who participate in the
Trading Plan and who have agreed to only sell Stock under the Trading Plan.


 


“Stock” means the common stock, $0.001 par value per share, of Isis.


 


“Suspension Event” means a legal, contractual or regulatory restriction
that is applicable to Seller or Seller’s affiliates that does not permit the
execution of sales made under a Sellers Plan (other than any such restriction
relating to Seller’s possession or alleged possession of material nonpublic
information about Isis or its securities subsequent to the execution of the
Sellers Plan), including, without limitation, (i) any restriction related
to a merger or acquisition, (ii) a stock


 


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offering requiring an affiliate lock-up, that would prohibit any sale
pursuant to the Trading Plan, or (iii) a potential violation of Section 16
of the Exchange Act.


 


“Trading Day” means any day during the Sales Period that (i) the
Nasdaq Stock Market is open for business and the Stock trades regularly on such
day and (ii) Isis is open for business as a corporation.


 


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EXHIBIT B


 


SELLERS PLAN


 


Effective Date: 



 


Seller’s Name:  


 


Seller’s Account Number: 


 


Commissions:


 


Plan Shares:


 


                 
shares of Stock owned by Seller; and


 


                 
shares of Stock issuable upon the exercise of the Options listed on the last page of
this Sellers Plan.


 


Option Priority Guidelines:


 


(Please Check Only One of The Following)


 


o                                    Exercise
first those Options with the earliest expiration date; or


 


o                                    Exercise
first those Options with the lowest exercise price.


 


(Please Check Only One of The Following)


 


o                                    To
complete sales under this Sellers Plan, Broker will
sell the Plan Shares owned by Seller first, before exercising any Options
(except if such Options are about to expire); or


 


o                                    To complete sales under this Sellers Plan, Broker
will sell the shares issuable upon exercise of the Options first, before
selling the Plan Shares owned by Seller.


 


No Expiration of In-the-Money Options:


 


In the event that
unexercised Options are about to expire, Broker will exercise such Options at
its discretion during the last:


 


(Please Check Only One of The Following)


 


o                                    5 Trading Days prior to the expiration date of the
Options


 


o                                    30 Trading Days prior to the expiration date of the
Options


 


o                                    60 Trading Days prior to the expiration date of the
Options


 


o                                                    Trading
Days prior to the expiration date of the Options


 


Broker will in no event exercise any Option if at the
time of exercise the exercise price of the Option is equal to or higher than
then current market price of the Stock.


 


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Instructions:


 


During the Sales
Period, Broker will sell the Daily Sales Amount, if any, for the account of
Seller on each Trading Day under ordinary principles of best execution at the
then-prevailing market price; provided that Broker will not sell any shares of
Stock under a Sellers Plan at a price of less than the Minimum Sales Price.


 


If, consistent with ordinary principles of best execution, Broker
cannot sell the Daily Sales Amount on any Trading Day, then the amount of such
shortfall may be sold as soon as practicable on the immediately succeeding
Trading Day and on each subsequent Trading Day as is necessary to sell such
shortfall consistent with the ordinary principals of best execution.  If any shortfall exists after the close of
trading on the last Trading Day prior to the termination of this Trading Plan
or the applicable Sellers Plan, Broker’s obligation and authorization to sell
such shares will terminate.


 


Minimum Sales Price:


 


o                                    $          per
share (before deducting any commission, commission equivalent, mark-up or
differential and other expenses of sale); or


 


o                                    The
greater of (i) the 20-day trailing average closing sale price of the
Stock, as reported by Bloomberg (or, if such trailing average price is not
reported by Bloomberg, the 20-day trailing average closing sale price as
calculated by Broker, whose calculation shall be final and binding absent gross
error), or (ii) $          
per share (before deducting any commission, commission equivalent, mark-up or
differential and other expenses of sale); or


 


o                                    For
each number of shares listed on the table below, the Minimum Sales Price will
be the price opposite such number of shares.


 


	
  Number of Shares

  	
   

  	
  Minimum Sales Price

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  



 


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Daily Sales Amount   (please check only one of the
following):


 


o                                    Broker
will set the Daily Sales Amount in its sole discretion; or


 


o                                                     shares
of Stock; or


 


o                                    an
amount of Stock resulting in aggregate proceeds (after deducting any commission,
commission equivalent, mark-up or differential, other expenses of sale,
exercise prices (if any), withholding taxes and other expenses of exercise) of
$         ; or


 


o                                                     shares
of Stock, except if          
or more shares of Stock have been sold under this Sellers Plan within the          
days preceding the current Trading Day, then the Daily Sales Amount will be
zero shares.


 


Reload Feature


 


o                                    On
the first day of each Sales Period, unless this Sellers Plan is otherwise
terminated, new shares of stock will be added as Plan Shares to this Sellers
Plan equal to the greater of (i) the number of Plan Shares in the
preceding Sales Period minus any shares not sold pursuant to the Sellers Plan
during the preceding Sales Period or (ii) the number of shares of Stock
subject to stock options held by Seller that will expire during the then
current Sales Period.  If necessary to
reload the Plan Shares (as described above), the Options will be updated to add
the earliest to expire stock options of the Seller until the Plan Shares have
been reloaded. Notwithstanding the foregoing, Options will not be added to this
Sellers Plan that will not vest within the then current Sales Period.


 


ESPP Shares


 


o                                    If
Seller purchases shares through the Isis Employee Stock Purchase Plan at any
time during the Sales Period, the newly purchased shares will automatically
become part of this Sellers Plan as Plan Shares and Broker will sell such
shares according to the following instructions:


 


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Other Instructions:


 


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Options:


 


	
  Option Number

  	
   

  	
  Number of Shares

  	
   

  	
  Exercise Price

  	
   

  	
  Expiration Date

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  



 


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EXHIBIT C


SELLER REPRESENTATION LETTER


Seller
Representation and Covenant Letter


 


Date:                    


 


Horwitz &
Associates, Inc.


2511 Garden Road, Suite C-225


Monterey, CA 93940


Attn: Peter Albano


 


Dear Peter:


 


In consideration of your
accepting orders to sell the Stock of Isis Pharmaceuticals, Inc. (“Isis”)
under the Isis Pharmaceuticals 10b5-1 Trading Plan (the “Trading Plan”) and the
Sellers Plan (as defined below), the Seller makes the representations and
agrees to the covenants set forth below.


 


All capitalized terms
that are not otherwise defined herein shall have the meanings ascribed to them
in the Trading Plan.  The terms of the
Trading Plan are incorporated herein by reference.  In the event of any conflict between the
provisions of this letter and the Trading Plan, the provisions of the Trading
Plan will control.


 


Seller hereby appoints
and authorizes Broker to sell shares of Stock pursuant to the terms and
conditions of the Trading Plan and the Sellers Plan attached hereto and
incorporated herein by reference as Exhibit I (the “Sellers Plan”).  Broker hereby accepts such appointment.


 


Seller Representations.


 


1.                                      Sales
of Stock under the Sellers Plan have been approved by an authorized
representative of Isis.


 


2.                                      As
of the date hereof, Seller is not aware of any material nonpublic information
concerning Isis or its securities. Seller is entering into the Sellers Plan in
good faith and not as part of a plan or scheme to evade compliance with the
federal securities laws.


 


3.                                      The
Stock to be sold under the Sellers Plan is owned free and clear by Seller
(subject, in the case of shares underlying Options, only to the compliance by
Seller with the exercise provisions of such options) and is not subject to any
agreement granting any pledge, lien, mortgage, hypothecation, security
interest, charge, option or encumbrance or any other limitation on disposition,
other than those which may have been entered into between Seller and Broker or
imposed by Rules 144 or 145 under the Securities Act.


 


4.                                      Seller
has had an opportunity to discuss the Sellers
Plan with his or her own advisors as to the legal, tax, business, financial and
related aspects of the Sellers Plan and has determined that the Sellers Plan
meets the affirmative defense criteria set forth in Rule 10b5-1(c).


 


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Seller
has not relied upon Broker or Isis (or any person affiliated with Broker or
Isis) in connection with, Seller’s adoption and implementation of the Sellers
Plan.


 


5.                                      Seller
acknowledges and agrees that, once the Sellers Plan becomes effective, Seller
does not have, and shall not attempt to exercise, any influence over how, when
or whether to effect sales of Stock pursuant to the Sellers Plan.


 


Seller
Covenants.


 


1.                                      While
the Sellers Plan is in effect, Seller agrees not to (i) buy or sell any
securities of Isis outside of the transactions contemplated by the Trading Plan
and purchases pursuant to Isis’ Employee Stock Purchase Plan, (ii) enter
into or alter any corresponding or hedging transaction or position with respect
to the Stock covered by the Sellers Plan (including, without limitation, with
respect to any securities convertible or exchangeable into the Stock), and (iii) alter
or deviate from the terms of the Sellers Plan.


 


2.                                      Seller
agrees to deliver to Broker the Plan Shares pursuant to the Sellers Plan to be
placed into Seller’s Plan Account prior to the commencement of sales under the
Sellers Plan.


 


3.                                      Seller
agrees to make appropriate arrangements with Isis and its transfer agent and
stock plan administrator to permit Broker to furnish notice to Isis of the
exercise of the Options and to have underlying shares delivered to Broker as
necessary to effect sales under the Sellers Plan. Seller hereby authorizes
Broker to serve as Seller’s agent and attorney-in-fact and, in accordance with
the terms of the Sellers Plan, to exercise the Options. Seller agrees to
complete, execute and deliver to Broker cashless exercise forms, in sufficient
form to allow for the exercise of Options pursuant to the Sellers Plan at such
times and in such numbers as Broker may reasonably request.


 


4.                                      Seller
will not, directly or indirectly, communicate any information relating to the
Stock or Isis to any employee of Broker or its affiliates who is involved, directly
or indirectly, in executing the Sellers Plan at any time while the Sellers Plan
is in effect.


 


5.                                      Seller
agrees to notify Broker’s compliance office by
telephone or facsimile as soon as practicable if
Seller becomes aware of the occurrence of any Suspension Event. Such notice
will indicate the anticipated duration of
the restriction, but will not include any other information
about the nature of the restriction or its applicability to Seller and will not in any way communicate any material nonpublic
information about Isis or its securities to Broker.


 


6.                                      Seller
understands and agrees that so long as it is an “affiliate” of Isis for
purposes of Rule 144 under the Securities Act, all sales under the Plan
will be in accordance with Rule 144. 
Seller agrees not to take any action that would cause Seller to
aggregate sales under the Sellers Plan with sales of other securities of the
issuer pursuant to Rule 144, and not to take any action that would cause
the sales under the Plan not to comply with Rule 144.


 


7.                                      Seller
agrees to complete, execute and deliver to Broker Forms 144 for the sales to be
effected under the Sellers Plan at such times and in such numbers as Broker
reasonably requests.  The “Remarks” section of
each Form 144 will state that the sale is being made


 


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pursuant
to a previously adopted plan intended to comply with Rule 10b5-1(c) and
will indicate the date the Sellers Plan was adopted and that the representation
is made as of such date.


 


8.                                      Seller
agrees to make all filings, if any, required under Sections 13(d), 13(g) and
16 of the Exchange Act in a timely manner, to the extent any such filings are
applicable to Seller.


 


9.                                      Seller
agrees that Seller will at all times during the Sales Period, in connection
with the performance of the Sellers Plan, comply with all applicable laws,
including, without limitation, Section 16 of the Exchange Act and the rules and
regulations promulgated thereunder.


 


10.                               Seller
will notify Broker and Isis of any other purchase or sale transactions
involving securities of Isis that are not contemplated by the Trading Plan.


 


	
   

  	
  Very truly
  yours,

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [name]

  
	
   

  	
  [address]

  
	
   

  	
  [telephone]

  
	
   

  	
  [fax]

  
	
   

  	
   

  
	
   

  	
   

  
	
  Agreed:

  	
  Acknowledged:

  
	
   

  	
   

  
	
  Horwitz &
  Associates, Inc

  	
  Isis Pharmaceuticals, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  B. Lynne
  Parshall

  
	
  By:  

  	
   

  	
   

  	
  Executive Vice
  President

  
	
   

  	
   

  
	
  Its:  

  	
   

  	
   

  	
   

  
	
   

  	
   

  
								



 


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