Document:

Confidential
        Treatment Requested. Confidential portions of this document have been redacted
        and separately filed with the Commission.

      

      *****
        Confidential material redacted and filed separately with the
        Commission.

    

    

      LICENSE
        AGREEMENT

      

      Effective
        as of September
        12,
        2003
        ("Effective Date"), THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR
        UNIVERSITY, a body having corporate powers under the laws of the State of
        California ("STANFORD"), and XTL Biopharmaceuticals Ltd., a corporation
        organized under the laws of Israel having a principal place of business at
        Kiryat Weizmann, P.O. Box 370, Rehovot, 76100 Israel ("LICENSEE"), agree
        as
        follows:

       

      1.
        BACKGROUND

      
        	
                1.1

              	
                STANFORD
                  has an assignment of HCV Monoclonal Antibodies Recognizing Divergent
                  HCV
                  Genotypes from the laboratory of
                  *****.

              

      

      
        	
                1.2

              	
                STANFORD
                  has certain technical data and information as herein defined
                  ("Technology") pertaining to
                  Inventions.

              

      

      
        	
                1.3

              	
                STANFORD
                  desires to have the Technology and Inventions developed and marketed
                  at
                  the earliest possible time in order that products resulting therefrom
                  may
                  be available for public use and
                  benefit.

              

      

      
        	
                1.4

              	
                STANFORD
                  and LICENSEE previously entered into an agreement dated *****,
                  giving LICENSEE *****,
                  which the parties agree shall be of no further force and effect
                  upon their
                  execution of this Agreement.

              

      

      
        	
                1.5

              	
                LICENSEE
                  now desires to
                  receive, and STANFORD desires to grant to LICENSEE, an exclusive
                  license
                  under said Technology, Inventions, and Licensed Patents to develop,
                  manufacture, use, offer
                  for sale,
                  sell and import Licensed Products in the field
                  of
                  use of human therapeutic applications.

              

        	1.6	The Technology and Inventions were made in the
                course of
                research supported  by
                *****.

      

       

      2.
        DEFINITIONS

      
        	
                2.1

              	
                “Affiliate”
                  means any corporation or other entity that directly, or indirectly
                  through
                  one or more intermediaries, controls, is controlled by, or is under
                  common
                  control with the designated party, where “control” shall mean ownership of
                  at least fifty percent (50%) (or such lesser percentage as may
                  be the
                  maximum that may be owned by foreign interests pursuant to the
                  laws of the
                  country of incorporation or domicile) of the voting securities
                  of such
                  corporation or other entity entitled to vote in the election of
                  directors
                  or corresponding managing
                  authority.

              

      

      
        	
                2.2

              	
                “Exclusive”
                  means that, subject to Article 4, STANFORD shall not grant further
                  licenses in the Licensed Territory in the Licensed Field of
                  Use.

              

      

      
        	
                2.3

              	
                "Licensed
                  Antibodies" means those antibodies set forth on Schedule
                  2.2
                  hereto.

              

      

       

      
        
           

        

        
           

          
            

          

        

        
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                2.4

              	
                "Licensed
                  Field of Use" means use of the Licensed Patents for human therapeutics
                  other than active immunization

              

      

      
        	
                2.5

              	
                "Licensed
                  Patents" means any Letters Patent issued upon STANFORD's U.S. Patent
                  Application, ***** and/or any additional patent applications, divisions,
                  continuations,
                  foreign
                  applications, counterparts or reissues of any of the foregoing.
                  

              

      

      
        	
                2.6

              	
                "Licensed
                  Products" means any product or part thereof in the Licensed
                  Field
                  of
                  Use, the manufacture, use,
                  offer for sale,
                  sale or import of which:

              

      

      
        	
              	(a)	
                Is
                  covered by a valid claim of an issued, unexpired Licensed Patent
                  (“Valid
                  Claim”) directed to the Inventions. A claim of an issued, unexpired
                  Licensed Patent shall be presumed to be valid unless and until
                  it has been
                  held to be invalid by a final judgment of a court of competent
                  jurisdiction from which no appeal can be or is
                  taken;

              

      

      
        	
              	(b)	
                Is
                  covered by any claim being prosecuted in a pending application
                  directed to
                  the Inventions; or

              

      

      
        	
              	(c)	
                Incorporates
                  any of the Technology.

              

      

      
        	
                2.7

              	
                "Licensed
                  Territory" means *****. 

              

        	2.8	"Net
                Sales" means the *****.

      
        	
                2.9

              	
                "Technology"
                  means existing technical data, biological materials and information,
                  including, but not limited to, the information contained in the
                  patent
                  application pertaining to the Inventions and provided to the LICENSEE
                  whether or not it is of a confidential nature. Biological materials
                  include *****.

              

      

       

      3.
        GRANT

      
        	
                3.1

              	
                STANFORD
                  hereby grants and LICENSEE hereby accepts a license under
                  the Licensed Patents and
                  Technology in
                  the Licensed Field
                  of
                  Use to make, use, offer
                  for sale,
                  sell
                  and import Licensed Products in the Licensed
                  Territory.

              

      

      
        	
                3.2
                  

              	
                Subject
                  to Sections 3.3 and 3.4,
                  the license rights granted hereunder,
                  including the right to sublicense pursuant to Article 13, in the
                  Licensed
                  Field
                  of
                  Use
                  are Exclusive
                  in the Licensed Territory. 

              

      

      
        	
                3.3

              	
                The
                  license rights granted with respect to those Licensed Antibodies
                  identified on Schedule
                  2.2 *****.

              

      

      
        	
                3.4

              	
                STANFORD
                  shall have the right to practice the Inventions and use the Technology
                  only for its own bona fide research, including sponsored research
                  and
                  collaborations. STANFORD shall have the right to publish any information
                  included in Technology and Licensed
                  Patents.

              

      

       

      
        
           

        

        
          -2-

          
            

          

        

        
          *****
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            separately with the Commission.

        

         

      

      4.
        GOVERNMENT RIGHTS

      
        	 	
                This
                  Agreement is subject to all of the terms and conditions of Title
                  35 United
                  States Code Sections 200 through 204, including an obligation that
                  Licensed Products sold or produced in the United States be "manufactured
                  substantially in the United States," and LICENSEE agrees to take
                  all
                  reasonable action necessary on its part as licensee to enable STANFORD
                  to
                  satisfy its obligation thereunder, relating to
                  Inventions.

              

      

       

      5.
        DILIGENCE

      
        	
                5.1

              	
                As
                  an inducement
                  to
                  STANFORD to enter into this Agreement, LICENSEE agrees to use commercially
                  reasonable efforts and diligence to proceed with the development,
                  manufacture, offering for sale, and sale or lease of Licensed Products
                  and
                  to diligently develop markets for the Licensed Products.
                  

              

      

      
        	
                5.2

              	
                LICENSEE
                  shall provide a development plan for each Licensed Antibody by
                  *****.
                  In the event that LICENSEE does not provide a development plan
                  for
                  *****
                  Licensed Antibodies, the license rights granted hereunder with
                  respect to
                  such Licensed Antibody(ies) only shall become nonexclusive upon
                  *****
                  notice from STANFORD. 

              

      

      
        	
                5.3

              	
                If
                  LICENSEE or its sublicensees have not made substantial progress
                  on or
                  completed preclinical studies that serve as a basis for LICENSEE’s
                  development plan with respect to the Licensed Antibody *****,
                  LICENSEE agrees that the license rights granted hereunder with
                  respect to
                  *****
                  only shall become nonexclusive upon *****
                  notice from STANFORD. If LICENSEE or its sublicensees have not
                  made
                  substantial progress on or completed preclinical studies that serve
                  as a
                  basis for LICENSEE’s development plan with respect to any other Licensed
                  Antibody by *****,
                  LICENSEE agrees that the license rights granted hereunder with
                  respect to
                  such Licensed Antibody only shall become nonexclusive upon *****
                  notice
                  from STANFORD.

              

      

      
        	
                5.4

              	
                If
                  LICENSEE or its sublicensees have not initiated *****,
                  LICENSEE agrees that the license rights granted hereunder with
                  respect to
                  *****
                  only
                  shall become nonexclusive upon *****
                  notice
                  from STANFORD. If LICENSEE or its sublicensees have not initiated
                  *****,
                  LICENSEE agrees that the license rights granted hereunder with
                  respect to
                  such Licensed Antibody only shall become nonexclusive upon *****
                  notice
                  from Stanford.

              

      

      
        	
                5.5

              	
                If
                  LICENSEE or its sublicensees have not initiated *****,
                  LICENSEE agrees that the license rights granted hereunder with
                  respect to
                  *****
                  only
                  shall become nonexclusive upon *****
                  notice
                  from STANFORD. If LICENSEE or its sublicensees have not initiated
                  *****,
                  LICENSEE agrees that the license rights granted hereunder with
                  respect to
                  such Licensed Antibody only shall become nonexclusive upon *****
                  notice
                  from Stanford.

              

      

       

      
        
           

        

        
          -3-

          
            

          

        

        
          *****
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                5.6

              	
                LICENSEE
                  and STANFORD agree to meet *****,
                  to discuss and agree upon further diligence milestones, including
                  the date
                  by which a Licensed Product will first be available for commercial
                  sale.

              

      

      
        	
                5.7

              	
                If
                  neither LICENSEE nor any of its sublicensees has sold a Licensed
                  Product
                  for a period of *****
                  after
                  such Licensed Product is first offered for commercial sale, the
                  license
                  rights granted hereunder with respect to such Licensed Product
                  shall
                  become nonexclusive upon *****
                  notice
                  from STANFORD.

              

      

      
        	
                5.8

              	
                Progress
                  Report - *****
                  until
                  LICENSEE markets a Licensed Product, LICENSEE shall make a written
                  *****
                  report
                  to STANFORD covering *****,
                  regarding the progress of LICENSEE toward commercial use of Licensed
                  Products. Such report shall include, as a minimum, information
                  sufficient
                  to enable STANFORD to satisfy reporting requirements of the U.S.
                  Government and for STANFORD to ascertain progress by LICENSEE toward
                  meeting the diligence requirements of this Article
                  5.

              

      

       

      6.
        ROYALTIES

      
        	
                6.1

              	
                LICENSEE
                  agrees to pay to STANFORD *****
                  as
                  reimbursement for patent prosecution expenses incurred by STANFORD
                  prior
                  to the Effective Date, such payment to be made to STANFORD within
                  *****
                  of
                  the Effective Date.

              

      

      
        	
                6.2

              	
                Upon
                  the first anniversary of the Effective Date, and
                  each
                  anniversary thereafter, LICENSEE shall pay to STANFORD a yearly
                  royalty of
                  *****.
                  Said yearly royalty payments are nonrefundable, but they are creditable
                  against earned royalties to the extent provided in Section
                  6.6.

              

      

      
        	
                6.3

              	
                In
                  addition, LICENSEE
                  shall pay STANFORD earned royalties on Net Sales of *****
                  in
                  countries where the Licensed Product is the subject of a Valid
                  Claim. For
                  any period in which the Licensed Product is not the subject of
                  a Valid
                  Claim in a country, the royalty rate shall be reduced to *****
                  in
                  such country for that period. 

              

      

      
        	
                6.4

              	
                Notwithstanding
                  Section 6.3, if a Licensed Product is part of a
                  combination product in which the Licensed Product is combined with
                  other
                  material which contributes in some material respect to the functioning
                  or
                  efficacy of the product as a whole, then the earned royalties shall
                  be
                  calculated as follows: *****.

              

      

      
        	
                6.5

              	
                Notwithstanding
                  Sections 6.3 and 6.4, earned royalty rates payable to STANFORD
                  shall be
                  reduced by *****
                  with respect to any Licensed Product for which LICENSEE’s license rights
                  hereunder have become nonexclusive pursuant to Article
                  5.

              

      

       

      
        
           

        

        
          -4-

          
            

          

        

        
          *****
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                6.6

              	
                Creditable
                  payments under this Agreement shall be an offset to LICENSEE against
                  up to
                  *****
                  of
                  each earned royalty payment which LICENSEE would be required to
                  pay
                  pursuant to Section 6.3 until the entire credit is
                  exhausted.

              

      

      
        	
                6.7

              	
                LICENSEE
                  shall also pay STANFORD the following one-time milestone
                  payments:

              

      

      
        	
              	(a)	
                *****;
                  and

              

      

      
        	
              	(b)	
                *****.

              

      

      
        	
                6.8

              	
                If
                  this Agreement is not terminated in accordance with other provisions
                  hereof, LICENSEE shall be obligated to pay royalties hereunder
                  for *****.
                  LICENSEE shall be obligated to pay royalties on all Licensed Products
                  that
                  are either sold or produced under the licenses
                  granted in Article 3, *****.

              

      

      
        	
                6.9

              	
                The
                  royalty on sales in currencies other than U.S. Dollars shall be
                  calculated
                  using the appropriate foreign exchange rate for such currency quoted
                  by
                  the Bank of America (San Francisco) foreign exchange desk, on the
                  close of
                  business on the last banking day of each *****.
                  Royalty payments to STANFORD shall be in U.S. Dollars. *****.

              

      

      
        	 	
                6.10

              	
                Within
                  *****
                  after receipt of a statement from STANFORD, LICENSEE shall reimburse
                  STANFORD for all costs incurred by Stanford in connection with
                  the
                  preparation, filing and prosecution of all Licensed Patents after
                  the
                  Effective Date.

              

      

       

      7.
        ROYALTY REPORTS, PAYMENTS, AND ACCOUNTING

      
        	
                7.1

              	
                Beginning
                  with the first sale of a Licensed Product, LICENSEE shall make
                  written
                  reports (even if there are no sales) and earned royalty payments
                  to
                  STANFORD within *****
                  after the end of each *****.
                  This report shall be in the form of the report of Appendix B and
                  shall
                  state *****.
                  Concurrent with the making of each such report, LICENSEE shall
                  include
                  payment due STANFORD of royalties for *****.
                  

              

      

      
        	
                7.2

              	
                LICENSEE
                  also agrees to make a written report to STANFORD within *****
                  after the expiration of the license pursuant to Section 14.1. LICENSEE
                  shall continue to make reports pursuant to the provisions of this
                  Section
                  7.2 concerning royalties payable in accordance with Article 6 in
                  connection with the sale of Licensed Products after expiration
                  of the
                  license, until such time as all such Licensed Products produced
                  under the
                  license have been sold or destroyed. Concurrent with the submittal
                  of each
                  post-termination report, LICENSEE shall pay STANFORD all applicable
                  royalties.

              

      

       

      
        
           

        

        
          -5-

          
            

          

        

        
          *****
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            separately with the Commission.

        

         

      

      
        	
                7.3

              	
                LICENSEE
                  agrees to keep and maintain records for a period of *****
                  showing the manufacture, offer
                  for sale, sale,
                  use, and other disposition of products sold or otherwise disposed
                  of under
                  the license herein granted. Such records will include general ledger
                  records showing cash receipts and expenses, and records which include
                  production records, customers, serial numbers, and related information
                  in
                  sufficient detail to enable the royalties payable hereunder by
                  LICENSEE to
                  be determined. LICENSEE further agrees to permit its books and
                  records to
                  be examined by STANFORD from time to time to the extent necessary
                  to
                  verify reports provided for in Section 7.1 and 7.2,
                  but Stanford shall not conduct more than *****.
                  Such examination is to be made by STANFORD or its designee, at
                  the expense
                  of STANFORD, except in the event that the results of the audit
                  reveal an
                  underreporting of royalties due STANFORD of *****
                  or
                  more, then the audit costs shall be paid by
                  LICENSEE.

              

      

       

      8.
        WARRANTIES; NEGATION OF WARRANTIES

      
        	
                8.1

              	
                STANFORD
                  represents and warrants that it has not granted rights or licenses
                  to the
                  Inventions that are inconsistent with those granted to LICENSEE
                  hereunder.

              

      

      
        	
                8.2

              	
                Nothing
                  in this Agreement is or shall be construed
                  as:

              

      

      
        	
              	(a)	
                A
                  warranty or representation by STANFORD as to the validity or scope
                  of any
                  Licensed Patents;

              

      

      
        	
              	(b)	
                A
                  warranty or representation that anything made, used, sold, or otherwise
                  disposed of under any license granted in this Agreement is or will
                  be free
                  from infringement of patents, copyrights, and other rights of third
                  parties;

              

      

      
        	
              	(c)	
                An
                  obligation to bring or prosecute actions or suits against third
                  parties
                  for infringement, except to the extent and in the circumstances
                  described
                  in Article 12; 

              

      

      
        	
              	(d)	
                Granting
                  by implication, estoppel, or otherwise any licenses or rights under
                  patents or other rights of STANFORD or other persons other than
                  Licensed
                  Patents, regardless of whether such patents or other rights are
                  dominant
                  or subordinate to any Licensed Patents;
                  or

              

      

      
        	
              	(e)	
                An
                  obligation to furnish any technology or technological information
                  other
                  than the Technology.

              

      

      
        	
                8.3

              	
                Except
                  as expressly set forth in this Agreement, STANFORD MAKES NO
                  REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS
                  OR
                  IMPLIED. THERE ARE NO EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY
                  OR
                  FITNESS FOR A PARTICULAR PURPOSE, OR THAT THE USE OF THE LICENSED
                  PRODUCTS
                  WILL NOT INFRINGE ANY PATENT, COPYRIGHT, TRADEMARK, OR OTHER RIGHTS
                  OR ANY
                  OTHER EXPRESS OR IMPLIED WARRANTIES.

              

      

       

      
        
           

        

        
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          *****
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                8.4

              	
                LICENSEE
                  agrees that nothing in this Agreement grants LICENSEE any express
                  or
                  implied license or right under or to *****.

              

      

       

      9.
        INDEMNITY

      
        	
                9.1

              	
                LICENSEE
                  agrees to indemnify, hold harmless, and defend STANFORD, Stanford
                  Health Services and Stanford Hospitals and Clinics and their respective
                  trustees, officers, employees, students, and agents against any
                  and all
                  claims for death, illness, personal injury, property damage, and
                  improper
                  business practices arising out of the manufacture, use, sale, or
                  other
                  disposition of Inventions, Licensed Patents, Licensed Products,
                  or
                  Technology by LICENSEE or sublicensees, or their
                  customers.

              

      

      
        	
                9.2

              	
                Except
                  for damages arising out of, or related to, STANFORD’s breach of Section
                  3.4, STANFORD
                  shall not be liable for any indirect, special, consequential or
                  other
                  damages whatsoever, whether grounded in tort (including negligence),
                  strict liability, contract or otherwise. STANFORD shall not have
                  any
                  responsibilities or liabilities whatsoever with respect to Licensed
                  Products.

              

      

      
        	
                9.3

              	
                LICENSEE
                  shall at all times comply, through insurance or self-insurance,
                  with all
                  statutory workers' compensation and employers' liability requirements
                  covering any and all employees with respect to activities performed
                  under
                  this Agreement.

              

      

      
        	
                9.4

              	
                In
                  addition to the foregoing, LICENSEE shall maintain, or cause its
                  sublicensees to maintain, during the term of this Agreement, Comprehensive
                  General Liability Insurance, including Products Liability Insurance,
                  with
                  reputable and financially secure insurance carriers to cover the
                  activities of LICENSEE and its sublicensees. Upon initiation of
                  *****
                  and shall include as additional insureds STANFORD, Stanford Health
                  Services, Stanford Hospitals and Clinics, and their trustees, directors,
                  officers, employees, students, and agents who have been involved
                  directly
                  or indirectly with the Technology, the Inventions or the Licensed
                  Products. 
                  Such insurance shall be written to cover claims incurred, discovered,
                  manifested, or made during or after the expiration of this Agreement
                  and
                  should be placed with carriers with ratings of at least A- as rated
                  by
                  A.M. Best. Within *****
                  of
                  the Effective Date of this Agreement, LICENSEE shall furnish a
                  Certificate
                  of Insurance evidencing primary coverage and additional insured
                  requirements and requiring *****
                  prior written notice of cancellation or material change to STANFORD.
                  LICENSEE shall advise STANFORD, in writing, that it maintains excess
                  liability coverage (following form) over primary insurance for
                  at least
                  the minimum limits set forth above. All such insurance of LICENSEE
shall
                  be primary coverage; insurance of STANFORD, Stanford Health Services,
                  and
                  Stanford Hospitals and Clinics shall be excess and
                  noncontributory.

              

      

       

      
        
           

        

        
          -7-

          
            

          

        

        
          *****
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      10.
        MARKING

      
        	 	
                Prior
                  to the issuance of patents on the Inventions, LICENSEE agrees to
                  mark
                  Licensed Products (or their containers or labels) made, sold, or
                  otherwise
                  disposed of by it under the license granted in this Agreement with
                  the
                  words "Patent Pending," and following the issuance of one or more
                  patents,
                  with the numbers of the Licensed
                  Patents.

              

      

       

      11.
        STANFORD NAMES AND MARKS

      
        	 	
                LICENSEE
                  agrees not to identify STANFORD in any promotional advertising
                  or other
                  promotional materials to be disseminated to the public or any portion
                  thereof or to use the name of any STANFORD faculty member, employee,
                  or
                  student or any trademark, service mark, trade name, or symbol of
                  STANFORD,
                  Stanford Hospitals and Clinics or Stanford Health Services, or
                  that is
                  associated with any of them, without STANFORD's prior written consent,
                  it
                  being understood that this limitation shall not apply to any disclosure
                  LICENSEE is required to make pursuant to applicable law or regulations.
                  Any use of STANFORD's name shall be limited to statements of fact
                  and
                  shall not imply endorsement of LICENSEE's products or
                  services.

              

      

       

      12.
        PROSECUTION OF PATENTS; INFRINGEMENT BY OTHERS: PROTECTION OF
        PATENTS

      
        	
                12.1

              	
                Following
                  the Effective Date, LICENSEE will be responsible for preparing,
                  filing and
                  prosecuting the Licensed Patents for STANFORD’s benefit in the Licensed
                  Territory and for maintaining all Licensed Patents. LICENSEE will
                  notify
                  STANFORD before taking any substantive actions in prosecuting the
                  claims,
                  and STANFORD will have final approval on how to proceed with any
                  such
                  actions, which approval shall not be unreasonably withheld or delayed.
                  To
                  aid LICENSEE in this process, STANFORD will provide information,
                  execute
                  and deliver documents and do other acts as LICENSEE shall reasonably
                  request from time to time. LICENSEE will reimburse STANFORD for
                  STANFORD’s
                  reasonable costs incurred in complying with such
                  requests.

              

      

      

      
        	
                12.2

              	
                Each
                  of the parties shall promptly inform the other of any suspected
                  infringement of any Licensed Patents by a third party. During the
                  period
                  of this Agreement
                  in
                  which LICENSEE has Exclusive rights in the Licensed Field of
                  Use,
                  STANFORD and LICENSEE each shall have the right to institute an
                  action for
                  infringement of the Licensed Patents against such third party in
                  accordance with the following:

              

      

       

      
        
           

        

        
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          *****
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              	(a)	
                If
                  STANFORD and LICENSEE agree to institute suit jointly, the suit
                  shall be
                  brought in both their names, the out-of-pocket costs thereof shall
                  be
                  borne equally, and any recovery or settlement shall be shared equally.
                  LICENSEE and STANFORD shall agree to the manner in which they shall
                  exercise control over such action. STANFORD may, if it so desires,
                  also be
                  represented by separate counsel of its own selection, the fees
                  for which
                  counsel shall be paid by STANFORD;

              

      

      
        	
              	(b)	
                In
                  the absence of LICENSEE's agreement to institute a suit jointly,
                  STANFORD
                  may institute suit, and, at its option, join LICENSEE as a plaintiff.
                  If
                  STANFORD decides to institute suit, then it shall promptly notify
                  LICENSEE
                  in writing. LICENSEE's failure to notify STANFORD in writing, within
                  *****
                  after the date of the notice, that it will join in enforcing the
                  patent
                  pursuant to the provisions hereof, shall be and be deemed conclusively
                  to
                  be LICENSEE's assignment to STANFORD of all rights, causes of action,
                  and
                  damages resulting from any such alleged infringement. STANFORD
                  shall bear
                  the entire cost of such litigation and shall be entitled to retain
                  the
                  entire amount of any recovery or settlement;
                  and

              

      

      
        	
              	(c)	
                In
                  the absence of agreement to institute a suit jointly and if STANFORD
                  decides not to join in or institute a suit, as provided in (a)
                  or (b)
                  above, LICENSEE may institute suit. LICENSEE shall bear the entire
                  cost of
                  such litigation, including out-of-pocket expenses incurred by STANFORD.
                  Any recovery in excess of litigation costs will be shared with
                  STANFORD as
                  follows:

              

      

       

      
        	 	
                1.

              	
                Any
                  payment for past sales will be deemed to be Net Sales and LICENSEE
                  will
                  pay STANFORD royalties thereon at the rates specified in Section
                  6.3
                  and;

              

      

       

      
        
           

        

        
          -9-

          
            

          

        

        
          *****
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            separately with the Commission.

        

         

      

      
        	 	
                2.

              	
                Any
                  payment which covers future sales will be deemed a sublicense and
                  royalties will be shared as specified in Article
                  13.

              

      

      LICENSEE
        and STANFORD agree to negotiate in good faith an appropriate compensation
        to
        STANFORD for any non-cash settlement or non-cash cross-license. STANFORD
        will
        not share in the portion of the recovery, if any, that is payment for “willful
        infringement.”

      
        	
                12.3

              	
                Should
                  either STANFORD or LICENSEE commence a suit under the provisions
                  of
                  Section 12.2 and thereafter elect to abandon the same, it shall
                  give
                  timely notice to the other party who may, if it so desires, continue
                  prosecution of such suit, provided, however, that the sharing of
                  expenses
                  and any recovery in such suit shall be as agreed upon between STANFORD
                  and
                  LICENSEE.

              

      

       

      13.
        SUBLICENSES

      
        	
                13.1

              	
                LICENSEE
                  may grant sublicenses
                  to make, have made, use, offer for sale, sell, have sold or offered
                  for
                  sale, and import Licensed Products in the Licensed
                  Territory.

              

      

      
        	
                13.2

              	
                If
                  LICENSEE is unable or unwilling to serve or develop a potential
                  market or
                  market territory for which there is a willing sublicensee, LICENSEE
                  will,
                  at STANFORD’s request, negotiate in good faith a sublicense for such
                  market or potential market
                  hereunder.

              

      

      
        	
                13.3

              	
                Any
                  sublicenses granted by LICENSEE under this Agreement shall be subject
                  and
                  subordinate to terms and conditions of this Agreement, except that:
                  

              

      

      
        	 	
                (a)

              	
                Any
                  sublicensee that is not an Affiliate of LICENSEE may not grant
                  further
                  sublicenses without STANFORD’s prior written consent, which shall not be
                  unreasonably withheld or delayed, except that such consent shall
                  not be
                  required with respect to sublicenses to a sublicensee’s Affiliates or
                  sublicensess solely to exercise the sublicensee’s rights to have Licensed
                  Products made or have Licensed Products sold or offered for sale;
                  and
                  

              

      

      
        	 	
                (b)

              	
                The
                  earned royalty rate specified in the sublicenses may be at higher
                  rates
                  than the rates in this Agreement (in which event any excess shall
                  be
                  retained by LICENSEE).

              

      

      
        	
                13.4

              	
                Any
                  such sublicenses also shall expressly include provisions substantially
                  similar to Articles 7, 8 and 9 for the benefit of STANFORD. In
                  addition,
                  any such sublicenses shall survive and provide for the transfer
                  of all
                  obligations, including the payment of royalties specified in such
                  sublicenses, to STANFORD
                  or its designee, in the event that this Agreement is
                  terminated.

              

      

       

      
        
           

        

        
          -10-

          
            

          

        

        
          *****
            Confidential material redacted and filed
            separately with the Commission.

        

         

      

      
        	
                13.5

              	
                LICENSEE
                  agrees to provide STANFORD a copy of any sublicense granted pursuant
                  to
                  this Article 13.

              

      

      
        	
                13.6

              	
                LICENSEE
                  shall pay to STANFORD *****
                  of
                  all sublicensing income, except earned royalties on sublicensees'
                  Net
                  Sales, which LICENSEE acknowledges are subject to Section 6.3,
                  and any
                  milestone payment received by LICENSEE upon *****
                  which LICENSEE pays STANFORD the milestone payment set forth in
                  Section
                  6.7(a) above. 

              

      

      
        	
                13.7

              	
                LICENSEE
                  may grant royalty-free or non-cash sublicenses or cross-licenses
                  provided
                  LICENSEE pays all royalties due STANFORD from sublicensees' Net
                  Sales.

              

      

       

      14.
        TERM; TERMINATION

      
        	
                14.1

              	
                Unless
                  terminated earlier pursuant to this Article 14, this Agreement
                  shall
                  terminate upon the later of the expiration of the last to expire
                  Licensed
                  Patent or payment by LICENSEE of the last royalty payment due
                  hereunder.

              

      

      
        	
                14.2

              	
                LICENSEE
                  may terminate this Agreement or the license rights with respect
                  to any
                  Licensed Antibody by
                  giving STANFORD notice in writing
                  at least *****
                  in
                  advance of the effective date of termination selected
                  by LICENSEE.

              

      

      
        	
                14.2

              	
                STANFORD
                  may terminate this Agreement if
                  LICENSEE:

              

      

      
        	
              	(a)	
                Is
                  in default in payment of royalty or providing of
                  reports;

              

      

      
        	
              	(b)	
                Is
                  in material breach of any provision hereof;
                  or

              

      

      
        	
              	(c)	
                Provides
                  any materially false report;

              

      

      
        	 	
                and
                  LICENSEE fails to remedy any such default, breach, or false report
                  within
                  *****
                  after written notice thereof by
                  STANFORD.

              

      

      
        	
                14.3

              	
                Surviving
                  any termination or expiration are:

              

      

      (a) LICENSEE's
        obligation to pay royalties accrued or accruable;

      (b) Any
        cause
        of action or claim of LICENSEE or STANFORD, accrued or to accrue, because
        of any
        breach or default by the other party; and

      (c) The
        provisions of Articles 7, 8, and 9 and any other provisions that by their
        nature
        are
        intended to survive.

       

      15.
        DISPOSITION OF LICENSED PRODUCT ON HAND UPON
        TERMINATION

      
        	 	
                Upon
                  termination of this Agreement LICENSEE is entitled to dispose of
                  all
                  previously made or partially made Licensed Product, but no more,
                  within a
                  period of *****
                  provided that the sale of Licensed Product is subject to the terms
                  of this
                  Agreement, including but not limited to the rendering of reports
                  and
                  payment of royalties required under this
                  Agreement.

              

      

       

      
        
           

        

        
          -11-

          
            

          

        

        
          *****
            Confidential material redacted and filed
            separately with the Commission.

        

         

      

      16.
        ASSIGNMENT

      This
        Agreement may not be assigned, except that LICENSEE may assign this Agreement
        as
        part of a sale, regardless of whether such a sale occurs through an asset
        sale,
        stock sale, merger or other combination, or any other transfer of (a) LICENSEE’s
        entire business, or (b) that part of LICENSEE’s business that exercises all
        rights granted under this Agreement. Prior to any assignment, the new assignee
        must agree in writing to STANFORD to be bound by this Agreement. Any other
        attempt to assign this Agreement is null and void. Upon a permitted assignment
        of this Agreement by LICENSEE, LICENSEE will be released of liability under
        this
        Agreement and the term “LICENSEE” in this Agreement will mean the
        assignee.

       

      17.
        ARBITRATION

      
        	
                17.1

              	
                Any
                  controversy arising under or related to this Agreement, and any
                  disputed
                  claim by either party against the other under this Agreement excluding
                  any
                  dispute relating to patent validity or infringement arising under
                  this
                  Agreement, shall be settled by arbitration in accordance with the
                  Licensing Agreement Arbitration Rules of the American Arbitration
                  Association. 

              

      

      
        	
                17.2

              	
                Upon
                  request by either party, arbitration will be by a third party arbitrator
                  mutually agreed upon in writing by LICENSEE and STANFORD within
                  *****
                  of
                  such arbitration request. Judgment
                  upon the award rendered by the arbitrator shall be final and nonappealable
                  and may be entered in any court having jurisdiction
                  thereof.

              

      

      
        	
                17.3

              	
                The
                  parties shall be entitled to discovery in like manner as if the
                  arbitration were a civil suit in the California Superior Court.
                  The
                  Arbitrator may limit the scope, time and/or issues involved in
                  discovery.

              

      

      
        	
                17.4

              	
                Any
                  arbitration shall be held at Stanford, California, unless the parties
                  hereto mutually agree in writing to another
                  place.

              

      

       

      18.
        NOTICES

      
        	 	
                All
                  notices under this Agreement shall be deemed to have been fully
                  given when
                  done in writing and hand-delivered or sent by registered mail,
                  postage
                  prepaid and return-receipt requested, or by express international
                  courier,
                  and addressed as follows:

              

      

      

      
        
           

        

        
          -12-

          
            

          

        

        
          *****
            Confidential material redacted and filed
            separately with the Commission.

        

         

      

      
        	
              	
                To
                  STANFORD:

              	
                Office
                  of Technology Licensing

                
                  Stanford
                    University

                  1705
                    El Camino Real

                  Palo
                    Alto, CA 94306-1106

                   

                  Attention:
                    Director

                

              

        	 	 	 

        	 	To LICENSEE:	
                XTL
                  Biopharmaceuticals Ltd.

                Kiryat
                  Weizmann

                 

                
                  P.O.
                    Box 370

                  Rehovot,
                    76100 Israel

                   
Attention:  President
                  and CEO

              

        	 	 	 

        	 	With a Copy
                to:	 

        	 	 	
                Heller
                  Ehrman White & McAuliffe LLP

                4350
                  La Jolla Village Drive

                San
                  Diego, California 92122

                

                Attention:
                  *****

              

      

       

      Either
        party may change its address upon written notice to the other
        party.

       

      19.
        WAIVER

      
        	 	
                None
                  of the terms of this Agreement can be waived except by the written
                  consent
                  of the party waiving compliance.

              

      

       

      20.
        APPLICABLE LAW

      
        	 	
                This
                  Agreement shall be governed by the laws of the State of California
                  applicable to agreements negotiated, executed and performed wholly
                  within
                  California,
                  without regard to principles of conflicts of laws.

              

      

       

      21.
        MODIFICATIONS

      
        	 	
                No
                  amendment or modification of this Agreement is valid or binding
                  on the
                  parties
                  unless made in writing and signed on behalf of each
                  party.

              

      

       

      
        
           

        

        
          -13-

          
            

          

        

        
          *****
            Confidential material redacted and filed
            separately with the Commission.

        

         

      

      22.
        ENTIRE UNDERSTANDING

      
        	 	
                This
                  Agreement embodies the entire understanding of the parties and
                  supersedes
                  all previous communications, representations or understandings,
                  whether
                  oral or written, between the parties relating to the subject matter
                  hereof.

              

      

       

      23.
        SEVERABILITY

      
        	 	
                In
                  case any of the provisions contained in this Agreement are held
                  to be
                  invalid, illegal
                  or
                  unenforceable in any respect, that invalidity, illegality or
                  unenforceability will not affect any other provisions of this Agreement,
                  and this Agreement will be construed as if the invalid, illegal,
                  or
                  unenforceable provisions had never been contained in
                  it.

              

      

       

      24.
        FORCE MAJEURE

      
        	 	
                Neither
                  party shall be responsible for delay or failure in performance
                  caused by
                  any government act, law, regulation, order or decree, by communication
                  line or power failures beyond its control, or by fire, flood or
                  other
                  natural disasters or by other
                  causes beyond its reasonable control, nor shall any such delay
                  or failure
                  be considered to be a breach of this Agreement; provided that the
                  delayed
                  party gives the other party prompt written notice thereof and uses
                  commercially reasonable efforts to resume
                  performance.

              

      

       

      25.
        RELATIONSHIP BETWEEN THE PARTIES

      
        	 	
                None
                  of the provisions of this Agreement are intended to create any
                  form of
                  association,
                  partnership or joint venture between the parties, rights in third
                  parties
                  or rights that are enforceable by any third party. Neither party
                  will have
                  the power to bind the other party or incur obligations on the other
                  party's behalf without the other party's prior written
                  consent.

              

      

      

      

      [REMAINDER
        OF PAGE INTENTIONALLY LEFT BLANK]

      
        
           

        

        
          -14-

          
            

          

        

        
           

        

      

      

      IN
        WITNESS WHEREOF, the parties hereto have executed this Agreement in duplicate
        originals by their duly authorized officers or representatives.

      

      

      THE
        BOARD
        OF TRUSTEES OF THE LELAND

      STANFORD
        JUNIOR UNIVERSITY

      

      Signature_______________________________

      Name__________________________________

      Title___________________________________

      Date___________________________________

      

      XTL
        BIOPHARMACEUTICALS LTD.

      

      
        Signature_______________________________

        Name__________________________________

        Title___________________________________

        Date___________________________________

      

       

      
        
           

        

        
          -15-

          
            

          

        

        
          *****
            Confidential material redacted and filed
            separately with the Commission.

        

         

      

      APPENDIX
        A

      LICENSED
        PATENTS AS OF AUGUST 1, 2003

      

      

      

      
        	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              

      

      *****

      Note
        that
        confidential
        treatment has been requested and one (1) page of material from this Appendix
        A
        has been omitted and filed separately with the Commission.

      
        
           

        

        
          -16-

          
            

          

        

        
          *****
            Confidential material redacted and filed
            separately with the Commission.

        

      

      APPENDIX
        B

      

      FORM
        OF ROYALTY REPORT

      

      ***** - 

      

      *****

      

      *****: *****

      

      
        	
                *****

              	
                *****

              
	
                *****

              	
                *****

              
	
                *****

              	
                *****

              
	
                *****

              	
                *****

              
	
                *****

              	
                *****

              
	
                *****

              	
                *****

              
	
                *****

              	
                *****

              
	
                *****

              	
                *****

              

      

      

      

      Note
        that
        confidential
        treatment has been requested and one (1) page of material from this Appendix
        B
        has been omitted and filed separately with the Commission.

      
        
           

        

        
          -17-

          
            

          

        

        
          *****
            Confidential material redacted and filed
            separately with the Commission.

        

      

      SCHEDULE
        2.2

      

      LICENSED
        ANTIBODIES

      

      

      *****

      

      *****

      *****

      *****

      *****

      *****

      *****

      *****

      *****

      *****

      *****

      *****

      

      

      *****

      *****

      *****

      Note
        that
        confidential
        treatment has been requested and one (1) page of material from this Schedule
        2.2
        has been omitted and filed separately with the Commission.

       

      
        
           

        

        
          -18-Confidential
        Treatment Requested. Confidential portions of this document have been redacted
        and separately filed with the Commission.

      

      *****
        Confidential material redacted and filed separately with the
        Commission.

    

     

    

      AGREEMENT

      

      

      This
        Agreement (“Agreement”) is entered into as of September 12, 2003, (the
“Effective Date”) by and among XTL Biopharmaceuticals Ltd., a corporation
        organized under the laws of Israel (“XTL”), Applied Immunogenetics LLC (“AI”), a
        Delaware limited liability company, ***** and *****.

      

      
        	
                A.

              	
                XTL
                  and The Board of Trustees of the Leland Stanford Junior University
                  (“Stanford”) are parties to that certain Agreement effective as of *****
                  (the “XTL Nonexclusive License Agreement”), pursuant to which Stanford
                  granted a nonexclusive license to XTL with respect to certain HCV
                  monoclonal antibodies (the “Licensed
                  Antibodies”).

              

      

      

      
        	
                B.

              	
                AI
                  and Stanford are parties to that certain License Agreement effective
                  as of
                  ***** (the “AI License Agreement”), pursuant to which Stanford granted an
                  exclusive license, subject to XTL’s rights under the XTL Nonexclusive
                  License Agreement, to the Licensed Antibodies as well as other
                  related
                  inventions.

              

      

      

      
        	
                C.

              	
                *****
                  and XTL are parties to that certain Consultancy, Confidential Information
                  and Inventions Agreement dated as of ***** (the “Original ***** Consulting
                  Agreement”), pursuant to which ***** agreed to provide certain consulting
                  services to XTL.

              

      

      

      
        	
                D.

              	
                AI
                  and Stanford have agreed to enter into an amended and restated
                  AI License
                  Agreement (the “Amended and Restated AI License Agreement”), pursuant to
                  which AI is granting back to Stanford its rights to the Licensed
                  Antibodies in the field of human therapeutics in all territories
                  of the
                  world with the exception of the Peoples Republic of China, as more
                  fully
                  set forth therein. 

              

      

      

      
        	
                E.

              	
                Stanford
                  and XTL have agreed to terminate the XTL Nonexclusive License Agreement
                  and enter into an exclusive license agreement (the “XTL Exclusive License
                  Agreement”), pursuant to which Stanford is granting to XTL an exclusive
                  license to the Licensed Antibodies in the human therapeutic field
                  of use
                  for all territories of the world with the exception of the Peoples
                  Republic of China, as more fully set forth
                  therein.

              

      

      

      
        	
                F.

              	
                XTL
                  and ***** have agreed to terminate the Original ***** Consulting
                  Agreement
                  and are entering into a new consulting agreement (the “New *****
                  Consulting Agreement”), pursuant to which ***** will provide certain
                  consulting services to XTL.

              

      

      

      
        	
                G.

              	
                XTL
                  and ***** are entering into a consulting agreement (the “***** Consulting
                  Agreement”), pursuant to which ***** will provide certain consulting
                  services to XTL.

              

      

      

      
        
           

        

        
           

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      NOW,
        THEREFORE, in consideration for the terms and conditions set forth herein,
        the
        Parties agree as follows:

      

      
        	
                1.

              	
                OTHER
                  AGREEMENTS

              

      

      

      As
        of the
        Effective Date, the parties hereto will enter into the following
        agreements:

      

      
        	 	
                a.

              	
                AI
                  shall execute the Amended and Restated AI License
                  Agreement.

              

      

      

      
        	 	
                b.

              	
                XTL
                  shall execute the Exclusive XTL License
                  Agreement.

              

      

      

      
        	 	
                c.

              	
                XTL
                  and ***** shall execute the New ***** Consulting
                  Agreement.

              

      

      

      
        	 	
                d.

              	
                XTL
                  and ***** shall execute the ***** Consulting
                  Agreement.

              

      

      

      
        	
                2.

              	
                INITIAL
                  PAYMENT BY XTL

              

      

      

      In
        partial consideration for AI’s agreeing to transfer the license rights back to
        Stanford pursuant to the Amended and Restated AI License Agreement thereby
        enabling those rights to be licensed to XTL, XTL will pay to AI ***** within
        ***** of the Effective Date.

      

      
        	
                3.

              	
                ADDITIONAL
                  PAYMENTS BY XTL

              

      

      

      As
        further consideration for AI’s agreeing to transfer the license rights back to
        Stanford pursuant to the Amended and Restated AI License Agreement thereby
        enabling those rights to be licensed to XTL, XTL will make additional payments
        to AI as set forth in this Section 3 for so long as XTL is required to make
        earned royalty payments to Stanford under the Exclusive XTL License Agreement,
        as it may be amended.

      

      
        	 	
                a.

              	
                For
                  purposes of this Agreement, the terms “Licensed Field of Use,”“Licensed
                  Patents,”“Licensed Products,”“Net Sales” and “Valid Claim” shall have
                  the meanings given those terms in the Exclusive XTL License
                  Agreement.

              

      

      

      
        	 	
                b.

              	
                XTL
                  shall make periodic payments to AI equal to *****
                  of
                  Net Sales *****.
                  For
                  any period in which a Licensed Product is not the subject of a
                  Valid Claim
                  in a country, the payments shall be equal to *****
                  of
                  Net Sales in such country for that period *****.
                  

              

      

      

      
        	 	
                c.

              	
                Notwithstanding
                  Section 3(b), if a Licensed Product is part of a
                  combination product, as described in the Exclusive XTL License
                  Agreement,
                  then the payments due to AI shall be calculated as follows:
                  *****.

              

      

      

      
        
           

        

        
          2

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      
        	 	
                d.

              	
                Notwithstanding
                  Sections 3(b) and (c), the periodic payment rates therein shall
                  be reduced
                  by ***** with respect to any Licensed Product for which XTL’s license
                  rights under the XTL Exclusive License Agreement have become nonexclusive
                  pursuant to Article 5 thereunder.

              

      

      

      
        	 	
                e.

              	
                Payments
                  calculated on the basis of Net Sales made in currencies other than
                  U.S.
                  Dollars shall be calculated using the appropriate foreign exchange
                  rate
                  for such currency quoted by the Bank of America (San Francisco)
                  foreign
                  exchange desk, on the close of business on the last banking day
                  of each
                  *****.
                  All payments to AI shall be in U.S. Dollars.

              

      

      

      
        	 	
                f.

              	
                Beginning
                  with the first sale of a Licensed Product, XTL shall make any payments
                  due
                  to AI under this Section 3 *****
                  after the end of each *****
                  for Net Sales during such *****.

              

      

      

      
        	 	
                g.

              	
                XTL
                  agrees to keep and maintain records for a period of *****
                  showing cash receipts and expenses and any related information
                  in
                  sufficient detail to enable the payments due to AI hereunder to
                  be
                  determined. XTL further agrees to permit these books and records
                  to be
                  examined by from time to time (but not more than *****
                  per *****)
                  to the extent necessary to verify the payments
                  made to AI. Such examination is to be made by an independent certified
                  accountant reasonably acceptable to XTL, at the expense of AI,
                  except in
                  the event that the results of the audit reveal an underreporting
                  of
                  payments due AI of *****
                  or
                  more, then the audit costs shall be paid by
                  XTL.

              

      

      
        	
                4.

              	
                PATENT
                  PROSECUTION

              

      

      

      
        	 	
                a.

              	
                Within
                  ***** after receipt of XTL’s invoice, AI shall reimburse XTL for payments
                  made by XTL to reimburse Stanford pursuant to the XTL Exclusive
                  License
                  Agreement for costs incurred by Stanford in connection with the
                  preparation, filing and prosecution of Licensed Patents covering
                  the
                  Licensed Antibodies identified on Schedule 2.2 of the XTL Exclusive
                  License Agreement as ***** in the Peoples Republic of
                  China.

              

      

      

      
        	 	
                b.

              	
                Within
                  ***** after receipt of XTL’s invoice, AI shall reimburse XTL for ***** of
                  XTL’s costs and expenses incurred in connection with the preparation,
                  filing and prosecution of Licensed Patents covering the Licensed
                  Antibodies identified on Schedule 2.2 of the XTL Exclusive License
                  Agreement as ***** in the Peoples Republic of China. XTL shall
                  keep AI
                  fully informed as to the status of such patent matters, including,
                  without
                  limitation, by providing AI with the opportunity to review and
                  comment on
                  any documents to be filed in the Peoples Republic of China in connection
                  therewith and by providing AI with copies of any documents received
                  by XTL
                  from the Peoples Republic of China, including notices of all
                  interferences, reexaminations, oppositions or requests for patent
                  term
                  extensions. AI shall cooperate with and assist XTL in connection
                  with such
                  activities at XTL’s request. In the event that XTL declines or fails to
                  prepare, file, prosecute or maintain any Licensed Patents covering
                  the
                  ***** in the Peoples Republic of China, including patent applications,
                  which, if filed, would be included in the Licensed Patents, XTL
                  shall
                  promptly, and in no event later than ***** prior to any filing
                  deadline,
                  provide written notice to AI. Subject to any rights of Stanford,
                  AI shall
                  have the right to assume such responsibilities at its own expense
                  using
                  counsel of its choice.

              

      

      

      
        
           

        

        
          3

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      
        	
                5.

              	
                REPRESENTATIONS
                  AND WARRANTIES

              

      

      

      
        	 	
                a.

              	
                Each
                  of XTL and AI hereby represents and warrants that it is duly authorized
                  to
                  enter into this Agreement and the other Agreements attached hereto
                  to
                  which it is a party and to perform its respective obligations hereunder
                  and thereunder.

              

      

      

      
        	 	
                b.

              	
                Each
                  of the parties hereby represents and warrants that this Agreement
                  does not
                  and will not conflict with any other right or obligation provided
                  under
                  any other agreement or obligation that it or he has with any third
                  party.

              

      

      

      
        	 	
                c.

              	
                AI
                  hereby represents and warrants that it has not executed and shall
                  not
                  execute any agreements, has not granted and shall not grant any
                  rights and
                  has not taken and shall not take any actions in conflict with the
                  terms
                  and provisions of this Agreement or the Amended and Restated AI
                  License
                  Agreement or with the rights and licenses previously held by AI
                  that were
                  granted back to Stanford pursuant to the Amended and Restated AI
                  License
                  Agreement and granted to XTL pursuant to the XTL Exclusive License
                  Agreement.

              

      

      

      
        	
                6.

              	
                TERM
                  AND TERMINATION

              

      

      

      The
        term
        of this Agreement shall begin on the Effective Date and, unless sooner
        terminated as provided herein, shall expire upon the expiration or termination
        of the Exclusive XTL License Agreement. XTL may terminate this Agreement
        if AI
        materially breaches this Agreement upon ***** advance written notice and
        such
        breach is not cured within the notice period. Upon expiration or termination
        of
        this Agreement, Sections 4, 8 and 11 shall survive and remain in full force
        and
        effect.

      

      
        	
                7.

              	
                LICENSED
                  PATENT INFRINGEMENT BY THIRD
                  PARTIES

              

      

      

      XTL
        and
        AI shall each promptly notify the other of any suspected infringement of
        any
        Licensed Patents by a third party. Subject to Stanford’s rights under the
        Amended and Restated AI License Agreement and the Exclusive XTL License
        Agreement, XTL shall have the first right, but not the obligation, to institute
        an action for infringement of the Licensed Patents against any third party.
        In
        the event that XTL fails to institute an infringement suit or take other
        reasonable action in response to the infringement within *****, subject to
        Stanford’s rights under the Amended and Restated AI License Agreement and the
        Exclusive XTL License Agreement, AI shall have the right, upon ***** notice
        to
        XTL, to institute such suit or take other appropriate action. Regardless
        of
        which party brings the action, the other party hereby agrees to cooperate
        reasonably in any such effort, including if required to bring a legal action,
        furnishing a power of attorney and shall have the right to participate in
        such
        action at its own expense with its own counsel. Any recovery obtained by
        settlement or otherwise shall be allocated between XTL and AI in proportion
        to
        their respective expenses paid in connection with the action.

      

      
        
           

        

        
          4

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      
        	
                8.

              	
                ARBITRATION

              

      

       

      
        	 	
                a.

              	
                Any
                  controversy arising under or related to this Agreement, and any
                  disputed
                  claim by either party against the other under this Agreement, shall
                  be
                  settled by arbitration in accordance with the Licensing Agreement
                  Arbitration Rules of the American Arbitration Association.
                  

              

      

       

      
        	
                 

              	
                b.

              	
                Upon
                  request by either party, arbitration will be by a third party arbitrator
                  mutually agreed upon in writing by AI and XTL within *****
                  of
                  such arbitration request. Judgment
                  upon the award rendered by the arbitrator shall be final and nonappealable
                  and may be entered in any court having jurisdiction
                  thereof.

              

      

       

      
        	 	
                c.

              	
                The
                  parties shall be entitled to discovery in like manner as if the
                  arbitration were a civil suit in the California Superior Court.
                  The
                  arbitrator may limit the scope, time and/or issues involved in
                  discovery.

              

      

       

      
        	 	
                d.

              	
                Any
                  arbitration shall be held in San Francisco, California, unless
                  the parties
                  hereto mutually agree in writing to another
                  place.

              

      

       

      
        	
                9.

              	
                NOTICES

              

      

       

      
        	 	
                All
                  notices under this Agreement shall be deemed to have been fully
                  given when
                  done in writing and hand-delivered or sent by registered mail,
                  postage
                  prepaid and return-receipt requested, or by express international
                  courier,
                  and addressed as follows:

              

      

       

      
        
           

        

        
          5

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      
        	
              	
                To
                  AI,
                  ***** or *****:

              	
                *****

                
                  Stanford,
                    California 94305

                  Attention:
                    *****

                

              

        	 	 	 

        	 	To XTL:	
                XTL
                  Biopharmaceuticals Ltd.

                Kiryat
                  Weizmann, P.O. Box 370

                Rehovot,
                  76100

                Israel

                Attention: President
                  and CEO

              

        	 	 	 

        	 	With a copy
                to:	Heller Ehrman White & McAuliffe LLP
                4350
                  La Jolla Village Drive

                San
                  Diego, California 92122

                USA

                Attention:
                  *****

              

      

      
         

      

      A
        party
        may change its address upon written notice to the other parties.

       

      
        	
                10.

              	
                WAIVER

              

      

       

      
        	 	
                None
                  of the terms of this Agreement can be waived except by the written
                  consent
                  of the party waiving compliance.

              

      

       

      
        	
                11.

              	
                APPLICABLE
                  LAW

              

      

       

      
        	 	
                This
                  Agreement shall be governed by the laws of the State of California
                  applicable to agreements negotiated, executed and performed wholly
                  within
                  California,
                  without regard to principles of conflicts of laws.

              

      

       

      
        	
                12.

              	
                MODIFICATIONS

              

      

       

      
        	 	
                No
                  amendment or modification of this Agreement is valid or binding
                  on the
                  parties
                  unless made in writing and signed by XTL and
                  AI.

              

      

       

      
        	
                13.

              	
                SEVERABILITY

              

      

       

      
        	
                 

              	
                In
                  case any of the provisions contained in this Agreement are held
                  to be
                  invalid, illegal
                  or
                  unenforceable in any respect, that invalidity, illegality or
                  unenforceability will not affect any other provisions of this Agreement,
                  and this Agreement will be construed as if the invalid, illegal,
                  or
                  unenforceable provisions had never been contained in
                  it.

              

      

       

      
        	
                14.

              	
                FORCE
                  MAJEURE

              

      

       

      
        	 	
                No
                  party shall be responsible for delay or failure in performance
                  caused by
                  any government act, law, regulation, order or decree, by communication
                  line or power failures beyond its control, or by fire, flood or
                  other
                  natural disasters or by other
                  causes beyond its reasonable control, nor shall any such delay
                  or failure
                  be considered to be a breach of this Agreement; provided that the
                  delayed
                  party gives the other parties affected prompt written notice thereof
                  and
                  uses its commercially reasonable efforts to resume
                  performance.

              

      

       

      
        
           

        

        
          6

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      
        	
                15.

              	
                RELATIONSHIP
                  BETWEEN THE PARTIES

              

      

       

      None
        of
        the provisions of this Agreement are intended to create any form of association,
        partnership or joint venture among the parties, rights in third parties or
        rights that are enforceable by any third party. No party will have the power
        to
        bind the other parties or incur obligations on another party's behalf without
        such other party's prior written consent.

      

      

      
        
           

        

        
          7

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      

      IN
        WITNESS WHEREOF, the parties hereto have executed this Agreement in duplicate
        originals by themselves or their duly authorized officers or
        representatives.

       

      
        	
                XTL
                  Biopharmaceuticals Ltd.

                 

                 

                By:____________________________

                 

                Name:__________________________

                 

                Date:___________________________

              	
                Applied
                  Immunogenetics LLC

                 

                 

                By:____________________________

                
                   

                  Name:__________________________

                   

                  Date:___________________________

                

              
	
                 

                 

                 

                 

                *****

                 

                 

                 

                _______________________________

                
                   

                  Date:___________________________

                

              	
                 

                 

                 

                 

                *****

                 

                 

                 

                
                  _______________________________

                  
                     

                    Date:___________________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]