Document:

Exhibit 10.21

Exhibit 10.21

PURCHASE AND MUTUAL INDEMNIFICATION AGREEMENT

THIS PURCHASE AND MUTUAL INDEMNIFICATION AGREEMENT (this “Agreement”) is effective as
of the 16th day of November, 2009, by and among Greenspring Partners, LP, a Pennsylvania limited
partnership with an address at P.O. Box 7289, York, PA 17404 (“Greenspring”), and Unilife Cross
Farm LLC, a Delaware limited liability company with an address at 633 Lowther Road, Lewisberry, PA
17339 (“Unilife”).

BACKGROUND:

A. Greenspring desires to sell and Unilife desires to purchase that certain real estate known
as 250 Cross Farm Lane, located in Conewago Township, York County, Pennsylvania (“Lot 1A”) on terms
and conditions contained in that certain agreement of sale dated September 30, 2009, as amended,
between Unilife Medical Solutions, Inc. and Greenspring (“Terminated Agreement”).

B. Certain other parcels of real estate are adjacent to Lot 1A, including a parcel known as
275 Cross Farm Lane currently owned by Exeter 275 Cross Farm, L.P. (“Lot 1B”) and a parcel known as
225 Cross Farm Lane currently owned by FR York Property Holdings, L.P. (“Lot 1”).

C. Lots 1A, 1B, and 1 are part of a single development (the “Development”) constructed by
Greenspring.

D. Lot 1A on the one hand, and Lots 1B and 1 on the other hand, are separated by Cross Farm
Lane (the “Road”).

E. A sedimentation basin (the “Basin”) is currently located on Lot 1A for the benefit of the
Development. The Basin is subject to NPDES Permit No. PAG2006705054 (the “Permit”), currently in
the name of Richard D. Poole, LLC (“Poole”, a former affiliate of Greenspring) and Greenspring
(“Original Permittees”).

F. In connection with the sale of Lot 1A to Unilife, Unilife must become a co- permittee on
the Permit.

G. In addition, two letters of credit are associated with the Development and obligations of
Greenspring in connection therewith: (1) letter of credit no. 10002731221 from Susquehanna Bank PA
in the face amount of $383,101.62 relating to certain improvements on Lot 1A (the “383 LC”); and
(2) letter of credit no. 10001392561 from Susquehanna Bank PA with a face amount of $1,513,669 and
a current balance of $122,950 relating to common improvements, including but not limited to the
wearing course on, and traffic signaling relating to, the Road (the “123 LC”).

 

 

 

H. The parties hereto desire to confirm the agreement to purchase and assign responsibility
for the various obligations relating to the Basin, the 383 LC and the 123 LC continuing after
closing on the purchase.

NOW THEREFORE, for and in consideration of the mutual promises and covenants contained herein,
and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, agree as follows:

1. Incorporation of Recitals. The recitals set forth above are incorporated herein as
if set forth at length below.

2. Agreement of Sale. Unilife Medical Solutions, Inc. and Greenspring hereby confirm
that the Terminated Agreement has been terminated and is no longer of any force or effect.
Greenspring hereby agrees to sell and Unilife agrees to purchase Lot 1A on the terms and conditions
of the Terminated Agreement.

3. Indemnification.

A. Indemnification by Greenspring. Greenspring hereby agrees to indemnify, defend and
save and hold harmless Unilife, its members, partners, shareholders, officers, agents, successors,
affiliates and assigns from and against, and to reimburse such indemnified party with respect to,
any and all claims, demands, causes of action, losses, damages, liabilities, costs and expenses
(including reasonable attorneys’ fees and expenses, and court costs), direct and indirect, asserted
against or incurred by such indemnified party by reason of, or arising in connection with: (1) the
123 LC and the obligations underlying it, including but not limited to the wearing course on the
Road and the traffic signaling related to the Road; or (2) the Permit as it relates to Lots 1 or
1B.

B. Indemnification by Unilife. Unilife hereby agrees to indemnify, defend and save
and hold harmless Poole, Greenspring, their respective members, partners, shareholders officers,
agents, successors, affiliates and assigns from and against, and to reimburse such indemnified
party with respect to, any and all claims, demands, causes of action, losses, damages, liabilities,
costs and expenses (including reasonable attorneys’ fees and expenses, and court costs), direct and
indirect, asserted against or incurred by such indemnified party by reason of, or arising in
connection with: (1) the 383 LC and the obligations underlying it; or (2) the Permit as it relates
to Lot 1A.

4. Covenant to Maintain Assets. Greenspring covenants and agrees to maintain
sufficient liquid assets to satisfy its obligations described herein. Upon the reasonable request
of Unilife, Greenspring shall deliver to Unilife financial or other information appropriate to
confirm this undertaking.

5. No Proceedings or Threatened Proceedings.

A. Each party to this Agreement hereby represents that, as of the date hereof, to the
knowledge of such party:

 

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i. There is no litigation, arbitration, grievance or other proceeding before any court,
arbitrator or governmental regulatory official, body or authority arising in connection with the
Permit, the 123 LC, the 383 LC and/or the Development, and/or the transactions described in the
recitals above (collectively, a “Proceeding”) pending.

ii. There is no Proceeding threatened.

iii. There has been no act, omission, circumstance or event that is reasonably likely to give
rise to any Proceeding.

B. In the event of a breach of any representation contained in this Section 5 by a party to
this Agreement (the “Breaching Party”), the Breaching Party agrees to indemnify, defend and save
and hold harmless the other parties to this Agreement, their respective shareholders, members,
officers, directors, agents, personal representatives, successors, and assigns from and against,
and to reimburse such indemnified party with respect to, any and all claims, demands, causes of
action, losses, damages, liabilities, costs and expenses (including reasonable attorneys’ fees and
expenses, and court costs), direct and indirect, asserted against or incurred by the indemnified
party, arising in connection with such breach.

6. Governing Law; Venue. This Agreement has been executed in and shall be construed
and enforced in accordance with, and governed by, the laws of the Commonwealth of Pennsylvania
without regard to conflict of law principles. Any action which in any way involves the rights,
duties and/or obligations of the parties hereto shall be brought in the courts of the Commonwealth
of Pennsylvania located in and for the County of York.

7. Entire Agreement. This Agreement sets forth the entire understanding of the
parties hereto, supersedes any prior agreements, negotiations and understandings of the parties
relating to the Permit, 123 LC or 383 LC. This Agreement may not be changed nor may any provision
hereof be waived except by a writing signed by all of the parties hereto.

8. Counterparts. This Agreement may be executed in any number of counterparts, and
each such counterpart hereof shall be deemed to be an original instrument, but all such
counterparts together shall constitute but one agreement.

9. Headings. The headings of the sections of this Agreement are inserted for
convenience of reference only, and shall not be considered a part hereof.

10. Binding Effect. This Agreement and all rights and powers granted hereby will bind
and inure to the benefit of the parties hereto and their respective heirs, executors,
administrators, personal representatives, trustees, successors and assigns.

11. Survival. The indemnification obligations and duties described herein shall
survive any closing on Lot 1A and shall not be merged into the deed therefor.

 

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IN WITNESS WHEREOF, the parties, intending to be legally bound hereby, have executed this
Agreement as of the day and year first written above.

	 	 	 
	 

	Greenspring Partners, LP

By: Greenspring Associates, LLC,

Sole General Partner
	 
	 	 
	 

	/s/ Richard D. Poole
	 

	 
	 

	By: 	Richard D. Poole, Managing Member

	 	 	 
	 

	Unilife Cross Farm LLC

By: Unilife Corporation, its sole member
	 
	 	 
	 

	By: 	/s/ Cynthia M. Lighty
	 

	 	 
	 

	Name: 	Cynthia M. Lighty
	 

	Title: 	Assistant Secretary

Unilife Medical Solutions, Inc. hereby joins in this Agreement for the sole purpose of
confirming the termination described in Section 2 above.

	 	 	 
	 

	Unilife Medical Solutions, Inc.
	 
	 	 
	 

	By: 	/s/ Cynthia M. Lighty
	 

	 	 
	 

	Name: 	Cynthia M. Lighty
	 

	Title: 	Assistant Secretary

 

-4-Exhibit 10.22

Exhibit 10.22

October 16, 2009

Mr. Alan Shortall

Chief Executive Officer

Unilife Medical Solutions

633 Lowther Road

Lewisberry, PA 17339

REVISED

Dear Mr. Shortall:

The purpose of this letter is to provide an outline of the assistance the Commonwealth of Pennsylvania is prepared
to offer Unilife Medical Solutions (Unilife) and its wholly-owned subsidiary company Integrated BioSciences (IBS),
should Unilife choose to proceed with expanding its corporate headquarters and manufacturing operations in south
central Pennsylvania. This offer of assistance replaces and supersedes our accepted offer letter dated November 12,
2008.

It is our understanding that Unilife wishes to enter into a build-to-suit agreement to construct a new building in
south central Pennsylvania that will serve as its corporate headquarters and house its primary manufacturing
operations. The proposed project is expected to create at least 241 new full-time jobs by December 31, 2012, and will
retain 87 existing employees. The total cost of this project will be $86,000,000. Based upon this information, I am
pleased to propose a significant economic development assistance package on behalf of the Commonwealth of Pennsylvania.

Please understand that if Unilife agrees to accept this offer of assistance from the Commonwealth, it also agrees
to make no public announcement of the project without the prior approval of the Pennsylvania Department of Community
and Economic Development (DCED). Unilife also agrees to formally apply with DCED for each of the programs described
below, as necessary.

Opportunity Grant Program (OGP)

The Opportunity Grant program has the flexibility necessary to allow Pennsylvania to customize its assistance to
the specific needs of your project. Based upon the project’s significant economic impact, the Commonwealth will
provide a $500,000 Opportunity Grant to Unilife. This grant may be used for any eligible costs associated with the
project.

 

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Mr. Alan Shortall

October 16, 2009

Page 2

Job Creation Tax Credits (JCTC)

Job Creation Tax Credits are provided to businesses that create new, full-time jobs paying at least 150% of the
federal minimum wage. For the 241 new jobs Unilife will create with this project, it will be eligible to receive tax
credits of $482,000 over a period of years, based upon when the jobs are created. These credits can be applied to your
company’s Pennsylvania Corporate Net Income Tax and/or its Capital Stock and Franchise Tax. In order to receive the
full tax credit, all jobs must be created within three years of an agreed upon start date.

Job Training Assistance – Customized Job Training (CJT) and WEDnet

Based upon the information provided, the Commonwealth will provide Unilife up to $200,000 for eligible training
costs through one or both of the following programs depending upon your company’s specific training needs. To be
eligible for training funds, employees must be Pennsylvania residents and earn at least 150% of the federal minimum
wage.

DCED provides Customized Job Training (CJT) grants, which can reimburse a company for up to 75% of eligible costs
incurred in providing customized, advanced level training for new or existing employees. Eligible costs include
trainer salaries and expenses, consumable training materials, and curriculum development.

WEDnet provides Guaranteed Free Training (GFT) grants, which can reimburse a company for up to $450 per employee
receiving basic skills training and up to $850 per employee receiving information technology training. Any training
under this program must take place during the fiscal year in which the application is made.

Unilife is required to apply for training funds within five (5) years from the date this offer is accepted.
Should extraordinary circumstances delay your training, please advise us at your earliest convenience.

Pennsylvania Industrial Development Authority (PIDA)

The Pennsylvania Industrial Development Authority provides low-interest financing for land and building
acquisition and for building construction or renovation. PIDA can finance up to 30% of the eligible real estate costs,
up to a maximum of $2 million, whichever is less. Funds are loaned at a fixed rate for a term of up to fifteen years.
The interest rate for PIDA loans in York County is currently 4.25%. Please be aware that the interest rate is subject
to change in response to fluctuations in the 10-year Treasury note rate adjusted quarterly. You will receive the
interest rate in effect at the time of application. Should your firm be designated as advanced technology, the
interest rate will be 3.25%.

Pennsylvania Economic Development Financing Authority (PEDFA)

PEDFA is the state-wide conduit (pass through) issuer of taxable Revenue Bonds, both in pooled and stand-alone
transactions, to be used to finance land, building, equipment, and working capital. PEDFA may finance up to 100% of
project cost with a variable interest rate. The term is based upon a negotiated letter of credit. This offer is
contingent upon qualifying your company’s expenses as eligible for the issuance of taxable bonds and negotiation of necessary financial documents. We will work closely with you to meet your timetable and other requirements.

 

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Mr. Alan Shortall

October 16, 2009

Page 3

Redevelopment Assistance Capital Program (RACP)

The RACP program can provide grants to municipalities and redevelopment authorities for costs associated with
major economic and community development projects in the Commonwealth. The RACP program is a component of the
Commonwealth’s Capital Budget and, as such, projects that may potentially receive funding must first be authorized for
a specific amount in a Capital Project Itemization Act. Additionally, the General Assembly must pass legislation
raising the authorized debt level for the program. Projects are selected to receive RACP funding after a review by the
Governor’s Office and the Office of the Budget of the project’s technical merits and compliance with minimum standards
established by law and RACP policy. Based on information your firm has provided, I am proposing that an award up to
$2,000,000 be made through the RACP program for this project. The funds would be provided to an appropriate public
entity in the community and used towards the cost of construction of your new facility in Southcentral Pennsylvania.

Should the General Assembly not pass a new Capital Budget Itemization Act by December 31, 2009, I propose
$2,000,000 in Infrastructure and Facilities Improvement Program (IFIP) be added to your economic development assistance
package in lieu of the RACP funding. The RACP program will not be offered in conjunction with the IFIP program. A
description of the IFIP program is listed below for your review.

Infrastructure and Facilities Improvement Program (IFIP)

The Infrastructure and Facilities Improvement Program can provide financial assistance in the form of multi-year
grants, used by eligible applicants to service debt incurred for infrastructure and facilities improvement projects
that enhance economic development in the Commonwealth. Based on the expected incremental increase in tax revenues
(sales tax and personal income tax withholdings) and the annual debt service of the project financing, a maximum annual
amount for the IFIP grant is established by the Department of Revenue and the Office of the Budget. The grant period
can be up to ten years. Based on information provided about your project, the Commonwealth will provide $2,000,000
over 10 years for building renovations.

Governor Rendell is committed to making Pennsylvania an economic leader by investing in the growth of businesses
like Unilife. In addition to the financing package outlined above, the Governor’s Action Team is prepared to provide
Unilife with any assistance that may be required throughout the application process, as well as to coordinate the
involvement of all other state agencies in your project. This would include assistance in securing any necessary
environmental permits through the Department of Environmental Protection.

 

3

 

Mr. Alan Shortall

October 16, 2009

Page 4

Please be aware that the assistance proposed in this offer is based upon information that has been provided to us
by your company regarding job creation projections, cost estimates, and project timing. All of the assistance outlined
above is contingent upon Unilife submitting complete applications and meeting all program guidelines. Financial awards are also contingent upon availability
of funds in any given budget year. If you have any questions regarding the application process for any of our
financial assistance programs, please contact the Governor’s Action Team. This proposal will remain in effect for a
period of 30 days from the date of this letter, unless extended in writing by the Commonwealth.

 

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Mr. Alan Shortall

October 16, 2009

Page 5

I trust that this comprehensive offer of assistance from the Commonwealth will demonstrate our strong commitment
to Unilife. I look forward to working with you to make this important project become a reality.

Sincerely,

/s/ George E. Cornelius

George E. Cornelius

Secretary

 

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COMMONWEALTH OF PENNSYLVANIA

ACCEPTANCE OF OFFER

BY ACCEPTING THIS OFFER, UNILIFE AGREES TO MAKE NO PUBLIC ANNOUNCEMENT OF THE PROJECT WITHOUT THE PRIOR APPROVAL OF THE
DCED PRESS OFFICE.

By accepting the attached offer of financial assistance, Unilife verifies that the information concerning job
creation and retention and project cost is accurate, and understands that any changes could result in the Commonwealth
revising or withdrawing this offer.

Should Unilife fail within the agreed timeframe to meet the commitments set forth above concerning job creation
and retention or project cost, the Commonwealth reserves the right to withdraw all or part of this offer of assistance,
and to seek repayment from Unilife of all or part of any assistance already disbursed.

Upon acceptance of this offer, Unilife will receive information regarding DCED’s Single Application for Financial
Assistance, which will provide more specific information about the programs offered.

Unilife agrees to submit a Single Application for Financial Assistance for this project by January 30, 2010.
Failure to do so may result in the loss or delay of funding.

If you have any questions regarding this offer or the application process, please contact Brian Ross at
(717)720-1432.

	 	 	 
	Alan Shortall 

	 	 
	 

	 	 
	Printed Name

	 	 
	 	 	 
	CEO 

	 	 
	 

	 	 
	Title

	 	 
	 	 	 
	Unilife Medical Solutions 

	 	 
	 

	 	 
	Company Name

	 	 
	 	 	 
	10/20/2009 

	 	 
	 

	 	 
	Date

	 	 
	 	 	 
	11-3679944 

	 	 
	 

	 	 
	Company Federal ID Number (FEIN)

	 	 
	 	 	 

 

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Please return this completed page, along with a copy of this letter, via facsimile and regular mail to:

Governor’s Action Team

Attn: Gilda Englander

Commonwealth Keystone Building

400 North Street, Plaza Level

Harrisburg, PA 17120

Fax: 717-772-5419

	 	 	 
	/s/ Alan Shortall 

	10/20/2009 	 
	 

	 
	 
	Alan Shortall

	Date 	 
	 	 	 

 

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