**Exhibit      4.7**

**EMPLOYMENT      AGREEMENT**

**MEMORANDUM      OF AGREEMENT**
**Effective      Date**

**BETWEEN:**

**Tm      Bioscience Corporation**

**Corporation**

**AND:**

**James      Pelot **

**Executive**

**WHEREAS**

**AND      WHEREAS**

**AND      WHEREAS**

**AND      WHEREAS**

**AND      WHEREAS**

**NOW,      THEREFORE**

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**ARTICLE 1**

**INTERPRETATION**

**Section 1.1**
**Definitions**

**affiliate**
*Business      Corporations Act*

**associate**
*Business      Corporations Act*

**Board**

**Business**

**Business      Day**

**Cause**

| (a)   | the                failure or wilful refusal of the Executive to perform his duties                and                responsibilities hereunder as required under Section 2.2 of this                Agreement                that is not cured by the Executive within ten (10) days of written                notification thereof to Executive by the                Corporation; |
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| (b)   | any                fraudulent activity on the part of the Executive affecting the                Corporation; |
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| (c)   | the                conviction of the Executive for any crime concerning the property                of the                Corporation or the Executive’s personal honesty or                morality; |
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| (d)   | any                wilful and intentional act on the part of the Executive having the                effect                of materially injuring the reputation, business or business relationships                of the Corporation; or |
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| (e)   | any                other act or omission of the Executive which would in law permit                an                employer to, without notice or payment in lieu of notice, terminate                the                employment of an employee. |
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**Confidential**
**Information**

| (a)   | was                in the public domain prior to the date of receipt by the                Executive; |
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| (b)   | is                properly within the legitimate possession of the Executive prior                to its                disclosure hereunder, and without any obligation of confidence attaching                thereto; |
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| (c)   | becomes                part of the public domain by publication or otherwise, not due to                any                unauthorized act or omission of the Executive; |
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| (d)   | after                disclosure, is lawfully received by the Executive from another Entity                who                is lawfully in possession of such Confidential Information and such                other                Entity was not restricted from disclosing the said information to                the                Executive; |
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| (e)   | is                approved, in writing, by the President for disclosure prior to its                actual                disclosure; or |
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| (f)   | the                Executive is required by law to disclose, provided that, unless prohibited                by law, the Executive first notifies the Corporation at the first                reasonable opportunity that he is required to disclose such Confidential                Information. |
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**Developments**

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| (a)   | result                or derive from the Executive’s employment or from the Executive’s                knowledge or use of Confidential                Information; |
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| (b)   | are                made, developed or conceived by the Executive, either solely or jointly                with others, during his employment, whether or not they were, are                or will                be made, developed or conceived during working                hours; |
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| (c)   | result                from or derive from the use or application of the resources of the                Corporation; or |
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| (d)   | relate                to the Business of the Corporation. |
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**Disability**

**Entity**

**Existing      Customer**

**Good      Reason**

| (a)   | any                change or series of changes in the responsibilities, status or reporting                relationship of the Executive with the Corporation such that immediately                after such change or series of changes the responsibilities or status                or                reporting relationship of the Executive are not at least substantially                equivalent to those assigned to the Executive immediately prior to                such                change or series of changes, excluding for this purpose an isolated,                insubstantial and inadvertent action not taken in bad faith and which                is                remedied by the Corporation promptly after receipt of notice thereof                given                by the Executive; |
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| (b)   | any                requirement by the Corporation that the Executive’s principal office be                relocated to a location which is more than 100 kilometres from his                then                current location, provided, that the Executive has not acquiesced                or                agreed to any relocation that is more than 100 kilometres from his                then                current location; |
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| (c)   | a                reduction by the Corporation in the Executive’s Base Salary, except as                part of a general reduction in the annual base salary of all or                substantially all of the senior executives of the Corporation which                affects the Executive in substantially the same manner as the other                senior                executives who are also affected by such general reduction; |
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| (d)   | the                taking of any action by the Corporation which would materially adversely                affect the Executive’s participation in or materially reduce the                Executive’s incentive compensation, pension, stock option, life insurance,                health, accident, disability benefits or other benefits in plans                in which                the Executive is participating, except in any such cases as part                of the                general reduction in benefits of all or substantially all of the                senior                executives of the Corporation which affects the Executive in substantially                the same manner as the other senior executives who are also affected                by                such reduction; or |
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| (e)   | any                material breach or non-observance by the Corporation of any material                provision of this Agreement, provided the Executive that has remained                uncured following a period of thirty (30) days following written                notice by                the Executive to the Corporation. |
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**Intellectual      Property Rights”**

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**Notice      Period**

**Period**

**Permitted**
**Uses**

**“President”**

**Prospective**
**Customer**

**Territory**

**ARTICLE 2**

**SCOPE      OF EMPLOYMENT**

**Section 2.1**
**Term**

**Section 2.2**
**Duties**

| (a)   | perform                those duties and responsibilities necessary or incidental to the                functions                of Chief Operating Officer and Chief Financial Officer of the Corporation                and any other duties as may be assigned to him from time to time                by the                Board; |
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| (b)   | faithfully                serve the Corporation and/or its affiliates and/or its associates,                devote                to the business and affairs of the Corporation the whole of his working                time, attention and ability, and ensure that he is not at any time                engaged                in conduct which would significantly interfere with the performance                of his                duties under this Agreement or which would constitute a conflict                with the                interests of the Corporation.                The Executive shall use his best efforts to promote the interests                of the                Corporation and to improve and extend the business                thereof; |
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| (c)   | (i)                comply with all applicable laws, rules and regulations, and all                requirements of all applicable regulatory, self-regulatory and                administrative bodies; (ii) comply with the Corporation’s rules,                procedures, policies, requirements and directions; and (iii) not                engage in                any other business or employment without the written consent of the                Corporation except as otherwise specifically provided                herein. |
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**Section 2.3**
**Reporting**

**ARTICLE 3**

**REMUNERATION      OF THE EXECUTIVE**

**Section 3.1**
**Remuneration      and Benefits**

| (a)   | the                Corporation shall pay to the Executive a base salary at the rate                of                $216,300                per                annum (the “**Base                Salary**”)                or such higher rate as may be determined from time to time by the                Board.                Such Base Salary shall be paid in accordance with the Corporation’s                standard payroll practices in effect from time to time; |
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| (b)   | the                Executive shall be entitled to participate in all health and welfare                benefit plans for employees of the Corporation in effect from time                to                time. |
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| (c)   | the                Executive shall be eligible to participate in the Corporation’s pension                plan(s) for senior management in effect from time to                time; |
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| (d)   | in                respect of each full fiscal year, the Executive shall be eligible                to                participate in a performance based bonus plan for senior management                in                effect from time to time. Such participation shall not guarantee                any                entitlement under such bonus plan; |
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| (e)   | the                Executive shall be entitled to continue to participate in the                Corporation’s Incentive Share Option Plan in effect from time to time; |
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| (f)   | the                Corporation shall, upon presentation of itemized receipts, reimburse                the                Executive for all travel and other business expenses directly and                reasonably incurred by the Executive in the performance of his duties;                and, |
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| (g)   | the                Executive shall be entitled to participate in the Executive Stock                Option                Plan in accordance with the terms and conditions of such plan. |
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**Section 3.2**
**Vacation**

**ARTICLE 4**

**TERMINATION**

**Section 4.1**
**Termination**

| (a)   | by                the Corporation, for Cause; |
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| (b)   | in                the event of the death of the                Executive; |
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| (c)   | by                the Corporation, in the event of a material violation of this Agreement                (other than one constituting Cause) by the Executive where such violation                has not been cured within two (2) weeks of written notice thereof                by the                Corporation to the Executive; |
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| (d)   | in                the event of the Disability of the Executive; |
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| (e)   | by                the Corporation, without Cause and other than for the reasons in                subsections 4.1(b), (c) and (d); |
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| (f)   | by                the Executive within thirty (30) days of the occurrence of any event                constituting Good Reason; and |
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| (g)   | by                the Executive, upon the expiration of three (3) months written notice                to                the Corporation. |
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**Section 4.2**
**Payment      Upon Termination**

| (a)   | Should                this Agreement be terminated pursuant to Subsection 4.1(a), (c) or                (g),                the Executive shall only be entitled to payment of the Executive’s Base                Salary earned up to the date of termination plus an amount equal                to the                sum of: (i) the value of the pro-rated vacation leave with pay for                that                portion of the calendar year in which the employment of the Executive                hereunder is terminated that the Executive was actively employed,                to the                extent such vacation entitlement has not been used by the Executive                at the                time of termination; and (ii) any accrued but unpaid business                expenses at the date of termination required to be reimbursed under                Section 3.1(g) of this Agreement. |
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| (b)   | Should                this Agreement be terminated pursuant to Subsection 4.1(b) or (d),                the                Executive shall only be entitled to: (i) payment of the Executive’s Base                Salary earned up to the date of termination; (ii) a bonus for that                portion                of the year in which the Executive was actively employed. The amount                of                the bonus shall be calculated as follows: the product of (s) the                average                bonus paid to the Executive in the three (3) years prior to the year                in                which his employment is terminated divided by twelve (12), and (t)                the                number of months the Executive was actively employed in the year                in which                his employment is terminated; (iii) the value of the pro-rated vacation                leave with pay for that portion of the calendar year in which the                employment of the Executive hereunder is terminated that the Executive                was                actively employed, to the extent such vacation entitlement has not                been                used by the Executive at the time of termination; and (iv) any accrued                but                unpaid business expenses at the date of termination required to be                reimbursed under Section 3.1(g) of this                Agreement. |
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| (c)   | Should                this Agreement be terminated pursuant to Subsections 4.1(e) or 4.1(f),                the                Corporation shall: |
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| (i)   | pay                to the Executive (w) any accrued but unpaid Base Salary for services                rendered to the date of termination, (x) a bonus for that portion                of the                year in which the Executive was actively employed (excluding the                Notice                Period). The amount of the bonus shall be calculated as follows:                the                product of (s) the average bonus paid to the Executive in the three                (3)                years prior to the year in which his employment is terminated divided                by                twelve (12), and (t) the number of months the Executive was actively                employed (excluding the Notice Period) in the year in which his employment                is terminated, (y) any accrued but unpaid expenses at the date of                termination required to be reimbursed under Section 3.1(g) of this                Agreement, and (z) the value of the pro-rated vacation leave with                pay for                that portion of the calendar year in which the employment of the                Executive                hereunder is terminated that the Executive was actively employed,                to the                extent such vacation entitlement has not been used by the Executive                at the                time of termination; |
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| (ii)   | pay                to the Executive, his Base Salary (less statutory deductions and                withholdings) for the Notice Period. Payment shall be made by way                of                salary continuance paid on the Corporation’s regular pay day, and in                accordance with its payroll practices at the date of termination;                and |
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| (iii)   | continue                the Executive’s health and welfare benefits plans (excluding Short Term                Disability (Sick Leave) and Long Term Disability benefits which disability                benefits shall cease on the Executive’s last day of active employment) in                which the Executive was participating at the date of termination,                until                the earlier of (x) the end of the Notice Period; or (y) the date the                Executive becomes covered under a benefit plan, program or arrangement                by                a subsequent employer. The Corporation’s obligation pursuant to this                provision is conditional on the Executive continuing to pay his share                of                the premiums. In the event that the Executive’s continued participation in                any such health and welfare benefits plans of the Corporation is                prohibited by the terms of such plans, the Corporation shall arrange                to                provide the Executive with an amount equal to the premiums the Corporation                would have incurred (excluding premiums for Short Term Disability                (Sick                Leave) and Long Term Disability benefits) had the Executive continued                to                participate in such plans for the period ending on the earlier of                (xx) the                end of the Notice Period;                or (yy) the date the Executive becomes covered under a benefit plan,                program or arrangement by a subsequent employer. |
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**Section 4.3**
**Duties      Upon Termination**

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**Section 4.4**
**Release**

**Section 4.5**
**Suspension      or Termination of Benefits and Compensation **

**ARTICLE 5**

**CONFIDENTIAL      INFORMATION**

**Section 5.1**
**Confidential      Information**

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**Section 5.2**
**Corporation      Property**

**ARTICLE 6**

**OBLIGATION      OF NON-COMPETITION**

**Section 6.1**
**Non-Competition**

**ARTICLE 7**

**OBLIGATION      OF NON-SOLICITATION**

**Section 7.1**
**Non-Solicitation**

| (a)   | canvass                or solicit the business of (or procure or assist the canvassing or                soliciting of the business of) any Existing Customer or Prospective                Customer for any purpose which is competitive with the Business;                or |
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| (b)   | accept                (or procure or assist the acceptance of) any business from any Existing                Customer or Prospective Customer which business is competitive with                the                Business; or |
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| (c)   | supply                (or procure or assist the supply of) any goods or services to any                Existing                Customer or Prospective Customer for any purpose which is competitive                with                the Business; or |
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| (d)   | cause,                directly or indirectly, any industrial or intellectual property of                the                Corporation, including without limitation, any trade-marks, copyrights,                licences or know-how, to be used or employed by any Entity other                than the                Corporation; or |
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| (e)   | employ,                engage, offer employment or engagement to or solicit the employment                or                engagement of or otherwise entice away from the employment or engagement                of the Corporation,                any individual who is employed or engaged by the Corporation                whether or not such individual would commit any breach of his/her                contract                or terms of employment or engagement by leaving the employ or the                engagement of the Corporation;                or |
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| (f)   | procure                or assist any Entity to employ, engage, offer employment or engagement                or                solicit the employment or engagement of any individual who is employed                or                engaged by the Corporation                or                otherwise entice away from the employment or engagement of the                Corporation                any such individual. |
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**ARTICLE 8**

**NON-DISPARAGEMENT**

**Section 8.1**
**Non-Disparagement**

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**ARTICLE 9**

**RECOGNITION**

**Section 9.1**
**Recognition**

**Section 9.2**
**Survival**

**ARTICLE 10**

**INVENTIONS      **

**Section 10.1**
**Invention      Assignment**

| (a)   | All                rights, titles and interests in or to the Developments shall vest                and are                owned exclusively by the Corporation immediately on its creation                and                regardless of the stage of its completion. The Executive irrevocably                grants, transfers and assigns to the Corporation all of his right,                title                and interest, if any, in any and all Developments, including rights                to                translation and reproductions in all forms or formats and all Intellectual                Property Rights thereto, if any, and he agrees that the Corporation                may                copyright said materials in the Corporation’s name and secure renewal,                reissues and extensions of such copyrights for such periods of time                as the                law may permit. The Executive hereby waives, as against the Corporation,                its successors and assigns and licensees, all his moral rights which                he                may have or will acquire in respect of the copyright in any Developments.                The Executive agrees to enforce his moral rights as against others                as                directed by and at the cost of the Corporation or its successor-in-title                of the copyright in the Developments. |
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| (b)   | At                all times hereafter, the Executive agrees promptly to disclose to                the                Corporation all Developments, to execute separate written transfers                or                assignments to the Corporation at the Corporation’s request, and to assist                the Corporation in obtaining any Intellectual Property Right in Canada,                the United States and in any other countries, on any Developments                granted,                transferred or assigned to the Corporation that the Corporation,                in its                sole discretion, seeks to register. The Executive also agrees to                sign all                documents, and do all things necessary to obtain such Intellectual                Property Rights, to further assign them to the Corporation, and to                reasonably protect the Corporation against infringement by other                parties                at the Corporation’s expense with the Corporation’s prior written                approval. |
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| (c)   | The                Executive shall keep complete, accurate, and authentic information                and                records on all Developments in the manner and form reasonably requested                by                Corporation. Such information and records, and all copies thereof,                shall                be the property of Corporation as to any Developments assigned to                the                Corporation. The Executive agrees to promptly surrender such information                and records at the request of the Corporation. All these materials                will be                Confidential Information upon their                creation. |
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**ARTICLE 11**

**PROPERTY      OF THE CORPORATION**

**Section 11.1**
**Deliveries      Upon Termination**

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**ARTICLE 12**

**NOTICES**

**Section 12.1**
**Notices**

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**ARTICLE 13**

**MISCELLANEOUS**

**Section 13.1**
**Assignment**

**Section 13.2**
**Governing      Law**

**Section 13.3**
**Severability**

**Section 13.4**
**Entire      Agreement**

**Section 13.5**
**Successors      and Assigns**

**Section 13.6**
**Amendment      and Waiver**

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**Section 13.7**
**Required      Deductions For Withholdings**

**Section 13.8**
**Independent      Legal Advice**

**Section 13.9**
**      Counterparts**

**IN      WITNESS WHEREOF**

| SIGNED, SEALED AND DELIVERED      | )       |   |                              |
|-----------------------------------|---------|--------|-----------------------------------|
| in                the presence of | )  |   |                              |
|                              | )       |   |                              |
|                              | )  |   |                              |
| /s/ Alan              Coley  | )  |   | /s/ James              Pelot |
| Witness                           | )  |   | James              Pelot          |
|                              |    |   |                              |

|         |                                 |                                |
|--------------|--------------------------------------|-------------------------------------|
|         | **T****m****BIOSCIENCE CORPORATION** |
|    |                            |                           |
|         | By:                        | /s/ Gregory              Hines |
|         | Gregory              Hines           |
|         | President                            |