Document:

Severance Agreement and Release

 EXHIBIT 10.13 
  
 SEVERANCE AGREEMENT AND RELEASE 
  
 This Severance Agreement and Release (“Agreement”) is between 1st Independence Bank (“Bank”), a banking corporation chartered by the Commonwealth of Kentucky, and 1st Independence Financial Group, Inc. (“1st Independence”), a Delaware corporation (collectively, “Employer”), and Arthur L. Freeman (“Executive”), a resident of the Commonwealth of Kentucky: 
  
 I. Recitations 
  
 1.01. Executive currently serves as the Chairman and Chief Executive Officer
of 1st Independence and Chairman of the Bank. 
  
 1.02. Executive is party to that certain Employment Agreement, dated July 9, 2004, by and between the Executive,
1st Independence and the Bank (the “Employment Agreement”). 
  
 1.03 Executive desires to retire as an officer and employee of 1st Independence and the Bank and resign as a director for 1st Independence and the Bank, effective as of April 29, 2005. 
  
 1.04. In recognition of the service provided by Executive to 1st Independence and the Bank, 1st Independence and the Bank believe it
would be in their best interest to continue certain benefits to Executive on the terms and conditions set forth in this Agreement. 
  
 1.05. Executive agrees to resign his employment with Employer and his service as a Director on 1st Independence and Bank’s Board of Directors in consideration of the payment and benefits set forth in Section IV of this Agreement. 
  
 II. Intention of the Parties 
  
 2.01. Employer and Executive intend and expect that Executive shall surrender
and renounce all privileges and rights that derive from his employment by Employer (including, but not limited to, the privileges and rights derived under the Employment Agreement), and the separation thereof, and service as a Director of
1st Independence and the Bank, except any and all rights Executive has pursuant to any pension or other retirement
benefit plan, profit sharing, stock option, employee stock ownership, or other plans (the “Plans”) in which Executive participated as of the Resignation Date shall be provided subject to and in accordance with the applicable provisions
thereof. 
  
 III. Agreements of Executive

  
 3.01. Resignation. Executive’s employment with
employer will terminate on April 29, 2005 (the “resignation date”). Effective on the resignation date, executive will be relieved of all 

 duties for and responsibilities with employer. Executive hereby resigns any and all officer, director and other positions
with employer or any of its affiliates or plans effective on the resignation date. 
  
 3.02. Consideration. The severance payment and benefits set forth in Section IV of this Agreement are in addition to whatever is otherwise owed to Executive by Employer and shall be the only payment and
benefits stemming from Executive’s employment with Employer to which he shall be entitled following his resignation. 
  
 3.03. No Admission of Liability. Executive agrees that the payment and benefits set forth in Section IV of this Agreement shall not be deemed or
construed at any time for any purpose as an admission of liability or violation of any applicable law by Employer. Liability for any and all claims is expressly denied by Employer. 
  
 3.04. Release. Executive agrees that in consideration of the payment and benefits set forth in Section IV of this
Agreement, Executive hereby releases and forever discharges Employer and its officers, directors, representatives, successors and assigns, and all persons acting by, through, under, or in concert with any of them, from all legal and equitable causes
of action, that exist or have accrued as of the date of this Agreement, whether known or unknown, suspected or unsuspected including, but not limited to, all charges, complaints, claims, demands, liabilities, and obligations of any kind or nature
that could be asserted against Employer by reason of Executive’s employment relationship with Employer, or separation thereof, or by Executive’s shareholder relationship with Employer. This irrevocable and unconditional release includes,
but is not limited to, claims arising pursuant to the Civil Rights Act of 1866; Title VII of the Civil Rights Act of 1964, as amended; the Age Discrimination in Employment Act, as amended (“ADEA”); the Older Workers Benefit Protection Act
(“OWBPA”); the Americans with Disabilities Act; the Family and Medical Leave Act; the Employee Retirement Income Security Act of 1974, as amended; the Kentucky Civil Rights Act; the Kentucky Equal Opportunities Act; any state wage and hour
laws; any state contract or tort law including, but not limited to, wrongful termination, breach of contract, breach of fiduciary duty, and infliction of emotional distress; any claims for attorneys’ fees; or claims for any rights to future
employment, wages and benefits with Employer other than those set forth herein. This is not a release or discharge of any of Employer’ continuing obligations set forth in this Agreement. This release does not relieve Employer of any obligations
to indemnify Executive or advance costs under any indemnification agreement or provision of Employer’s Articles of Incorporation or Bylaws. 
  
 3.05. Non-Disparagement. Executive agrees that for the period beginning on the date of execution of this Agreement and ending on July 9, 2007, he
shall make no disparaging comments about Employer or any of its officers or directors to any third parties. 
  
 3.06. Voluntary Execution. Executive acknowledges and agrees that he is executing this Agreement of his own free will and is not executing this
Agreement under any type of coercion or duress. 
  
 3.07.
Consideration and Waiver Period. Executive acknowledges and agrees that 

 Employer has informed him that he has a period of time of not less than twenty-one (21) days within which to consider
this Agreement or a reasonable facsimile thereof. Executive acknowledges that he has been advised by Employer that, in the event he executes this document, he is entitled to revoke his waiver of rights or claims arising under the ADEA and OWBPA
within seven (7) days after executing this document and that this Agreement will not and does not become effective or enforceable until the seven (7) day revocation period has expired. This revocation must be in writing and personally delivered, or
sent by certified mail, postmarked no later than the seventh (7th) day following the execution of this Agreement, to
N. William White, President, 1st Independence Bank, P.O. Box 1433, New Albany, IN 47151. 
  
 IV. Agreements of Employer 
  
 4.01. Severance payment. Provided executive has not made a revocation
pursuant to section 3.07 hereof, and in consideration of executive’s resignation and the surrender of all rights executive may have against employer that stem from his employment with or service as an officer or director of employer, or the
termination thereof, or as a shareholder of employer, all pursuant to this agreement, employer shall pay executive in a lump sum in cash an amount equal to executive’s base compensation, as defined in the employment agreement, from the
resignation date until July 9, 2007, which lump sum amount is $285,000. Employer shall pay that lump sum amount, less required withholding for income and employment taxes, on or before may 13, 2005. 
  
 4.02. Benefits. Except as otherwise provided herein, Executive’s
participation in Employer’s employee and director benefit plans in which Executive was entitled to participate immediately prior to the Resignation Date shall terminate in accordance with the provisions of such plans. 
  
 4.03 Health Insurance. Executive is entitled, under the Consolidated
Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), to continue his coverage under the Employer’s group health plan for a period 18 months following his Resignation Date. If the Executive elects to continue this coverage
under COBRA, the Employer will reimburse the Executive for all premiums paid by the Executive for himself, his spouse and any dependent children for such coverage. If needed, Employer will extend that COBRA coverage and continue reimbursement
through July 9, 2007. The reimbursement of COBRA premiums or the provision of the extended coverage shall end in the event the Executive becomes eligible to receive employer-paid family health plan coverage through another employer. 
  
 4.04. Options and Restricted Stock. Employer and Executive agree that
(i) all rights to exercise the 2,500 options granted to Executive pursuant to the Stock Option Agreement dated February 24, 2005 (“2005 Option Agreement”), between 1st Independence and Executive, and (ii) the 2005 Option Agreement shall terminate as of the effective date of this Agreement. In addition, the parties agree that
(i) all rights to receive the 500 shares of Restricted Stock awarded to Executive pursuant to the Restricted Stock Agreement dated February 24, 2005 (“2005 Restricted Stock Agreement”), between 1st Independence and Executive, and (ii) the 2005 Restricted Stock Agreement, shall terminate as of the effective date of this Agreement. After termination of the
2005 Option Agreement and 2005 Restricted Stock Agreement, Executive shall have no right or interest in such agreements or in the options or shares covered by such agreements. 

 4.05 1999 Options. Executive shall surrender for cancellation the 5,000 options awarded to
Executive in 1999, pursuant to the 1999 Stock Option Agreement between 1st Independence and Executive (“1999
Option Agreement”), and the 1999 Option Agreement shall terminate as of the effective date of this Agreement. Immediately thereafter Executive shall have no right under the 1999 Option Agreement. In consideration for the surrender and
cancellation of the options awarded under the 1999 Option Agreement, Executive shall receive a cash payment within ten days of the effective date of this Agreement, equal to the difference between the exercise price set forth for the options covered
by the 1999 Option Agreement and the closing price of the common stock of 1st Independence as quoted by NASDAQ on
the date this Agreement is signed by Executive. 
  
 4.06
Employer Vehicle. Executive shall have the right, exercisable within ten days from his Resignation Date, to purchase the 2002 GMC Yukon vehicle which had been supplied by Employer to Executive for a mutually agreed-upon price of $10,000 and
receive title to said vehicle, free and clear of any lien or encumbrance. 
  
 4.07 Executive Assistance. Executive agrees that, after the effective date of this Agreement, he will assist and advise Employer, pursuant to any reasonable request and subject to Employer’s payment of
Executive’s expenses. He will also continue to assist and support Employer with respect to any and all litigation currently involving the Employer which relates to actions which occurred prior to April 29, 2005. 
  
 4.08 Confidentiality and Non-Compete Covenants. Executive,
1st Independence and the Bank agree that Section 9 of the Employment Agreement, entitled “Confidentiality and
Non-Compete Covenants,” shall continue to be in effect. 
  
 4.09 Voting of Shares. Executive agrees that for the period beginning on the Resignation Date and ending on July 9, 2007 he will vote all shares beneficially owned by him in accordance with the recommendation of the Board of
Directors of the Employer. This provision shall not in any way limit Executive’s right to sell such shares to a third party free and clear of the voting restriction provided for in this Section. 
  
 4.10. Non-Disparagement. Employer agrees that for the period beginning
on the date of execution of this Agreement and ending on July 9, 2007, it, through its officers and directors, shall make no disparaging comments about Executive to any third parties following the execution of this Agreement. Executive acknowledges
that Employer does not have total control over comments made to third parties by employees in their individual capacities. However, to avoid any non-authorized comments, Executive agrees to only refer prospective employers to an officer or Director
of Employer for an employment recommendation. 
  
 4.11
Release. Employer agrees that in consideration of the agreements of Executive set forth in Section III of this Agreement and except as otherwise provided herein, Employer hereby 

 releases and forever discharges Executive from all legal and equitable causes of action, that exist or have accrued as of
the date of this Agreement, whether known or unknown, suspected or unsuspected including, but not limited to, all charges, complaints, claims, demands, liabilities, and obligations of any kind or nature that could be asserted against Executive by
reason of Executive’s employment relationship with Employer; provided, that the above release and discharge does not apply to any cause of action (a) for an accounting of profits allegedly made from the purchase or sale of securities of the
Employer brought pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934 and any amendments thereto or the provisions of any similar federal, state or local statutory law; (b) arising out of or based upon actions
attributable to the Executive in which the Executive gained any personal profit or advantage to which he was not legally entitled; or (c) involving intentional misconduct. 
  
 4.12. No Admission of Liability. Employer agrees that this Agreement shall not be deemed or construed at any time for
any purpose as an admission of liability or violation of any applicable law by Executive. Liability for any and all claims is expressly denied by Executive. 
  
 4.13. Authorization. Employer has the requisite corporate power and authority to enter into this Agreement and to perform its obligations
hereunder, subject to the terms and conditions hereof. 
  
 V.
Agreement of All Parties 
  
 5.01. Further
assurances. Each of the parties hereto shall do, execute, acknowledge, and deliver or cause to be done, executed, acknowledged, and delivered at any time and from time to time upon the request of any other parties hereto, all such further acts,
documents, and instruments as may be reasonably required to effect any of the transactions contemplated by this agreement. 
  
 5.02. Binding effect; assignment. This agreement shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns; provided, however, that neither party hereto may assign this agreement without the prior written consent of the other party. Notwithstanding the foregoing, this agreement may be assigned, without the prior consent of
executive, to a successor of employer and, upon executive’s death, this agreement shall inure to the benefit of and be enforceable by executive’s executors, administrators, representatives, heirs, distributees, devisees, and legatees and
all amounts payable hereunder shall be paid to such persons or the estate of executive. 
  
 5.03. Waiver; Amendment. No provision or obligation of this Agreement may be waived or discharged unless such waiver or discharge is agreed to in writing and signed by Employer and Executive. The waiver by any
party hereto of a breach of or noncompliance with any provision of this Agreement shall not operate or be construed as a continuing waiver or a waiver of any other or subsequent breach or noncompliance hereunder. Except as expressly provided
otherwise herein, this Agreement may be amended, modified, or supplemented only by a written agreement executed by Employer and Executive. 
  
 5.04. Headings. The headings in this Agreement have been inserted solely for ease of reference and shall not be considered in the interpretation,
construction, or enforcement of this Agreement. 

 5.05. Severability. All provisions of this Agreement are severable from one another, and the
unenforceability or invalidity of any provision of this Agreement shall not affect the validity or enforceability of the remaining provisions of this Agreement; provided, however, that should any judicial body interpreting this Agreement deem any
provision to be unreasonably broad in time, territory, scope, or otherwise, the parties intend for the judicial body, to the greatest extent possible, to reduce the breadth of the provision to the maximum legally allowable parameters rather than
deeming such provision totally unenforceable or invalid. 
  
 5.06.
No Counterparts. This Agreement may not be executed in counterparts. 
  
 5.07. Governing Law; Jurisdiction; Venue; Waiver of Jury Trial. This Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Kentucky, without reference to the choice of
law principles or rules thereof. The parties hereto irrevocably consent to the jurisdiction and venue of the state court for the Commonwealth of Kentucky, and agree that all actions, proceedings, litigation, disputes or claims relating to or arising
out of this Agreement shall be brought and tried only in such courts. 
  
 5.08. Entire Agreement. This Agreement constitutes the entire and sole agreement between Employer and Executive with respect to Executive’s resignation and there are no other agreements or understandings either written or oral
with respect thereto. The parties agree that the Employment Agreement, dated July 9, 2004, between Executive, 1st
Independence and the Bank will be terminated effective as of the Resignation Date and of no further force or effect or liability thereunder, except as provided in Section 4.08 hereof. 
  
 5.09. Construction. The rule of construction to the effect that any ambiguities are to be resolved against the
drafting party shall not be employed in the interpretation of this Agreement. Whenever in this Agreement a singular word is used, it also shall include the plural wherever required by the context and vice-versa. All reference to the masculine,
feminine, or neuter genders shall include any other gender, as the context requires. 
  
 5.10. Attorneys’ Fees. The prevailing party shall be entitled to reasonable costs and expenses (including, without limitation, reasonable attorneys’ fees and disbursements) in connection with any
legal action to interpret or enforce any provision of this Agreement or for any breach of this Agreement, or for enforcing it as a defense. 
  
 5.11. Taxes and Other Amounts. All taxes (other than Employer’s portion of employment taxes) on all amounts payable to Executive hereunder and
under the Plans and other benefit plans and programs will be paid by Executive. Employer will be entitled to withhold from such payments and benefits (i) applicable income, employment and other taxes required to be withheld therefrom; (ii) amounts
authorized by Executive; and (iii) other required or appropriate and customary amounts. 

 5.12. Review and Consultation. Employer and Executive hereby acknowledge and agree that each (i)
has read this Agreement in its entirety prior to executing it; (ii) understands the provisions and effects of this Agreement; (iii) has consulted with such attorneys, accountants, and financial and other advisors as it or he has deemed appropriate
in connection with their respective execution of this Agreement; and (iv) has executed this Agreement voluntarily. EXECUTIVE HEREBY UNDERSTANDS, ACKNOWLEDGES, AND AGREES THAT THIS AGREEMENT HAS BEEN PREPARED BY COUNSEL TO EMPLOYER AND THAT HE HAS
NOT RECEIVED ANY ADVICE, COUNSEL, OR RECOMMENDATION WITH RESPECT TO THIS AGREEMENT FROM EMPLOYER OR ITS COUNSEL. 
  
 IN WITNESS WHEREOF, this Severance Agreement and Release is executed as of the day and year stated below. 
  

							
	1st INDEPENDENCE FINANCIAL GROUP,
INC.	  	 	 	EXECUTIVE
				
	By:	 	 /s/ N. WILLIAM WHITE

	  	 	 	 /s/ ARTHUR L. FREEMAN

	 	 	N. William White, President	  	 	 	Arthur L. Freeman
			
	Date: March 31, 2005	  	 	 	Date: March 31, 2005
			
	1st INDEPENDENCE BANK	  	 	 	 
				
	By:	 	 /s/ N. WILLIAM WHITE

	  	 	 	 
	 	 	N. William White, President	  	 	 	 
			
	Date: March 31, 2005Exhibit 10.4

 Exhibit 10.4 
  
 SERVICES AGREEMENT 
  
 THIS SERVICES AGREEMENT (this “Agreement”) is made and entered into as of the 10th day of August, 2004 by and between Third Security, LLC, a Virginia limited liability company (“THIRD SECURITY”), and New River
Pharmaceuticals Inc., a Virginia corporation, including all of its now or hereafter existing subsidiaries (“NEW RIVER”). 
  
 WHEREAS, NEW RIVER intends to pursue an underwritten initial public offering (the closing of which is hereafter referred to as the
“Offering”); 
  
 WHEREAS, historically
THIRD SECURITY has provided certain corporate and administrative services to its affiliates, including NEW RIVER; and 
  
 WHEREAS, THIRD SECURITY and NEW RIVER desire that THIRD SECURITY continue to provide certain services to NEW RIVER through and following the
Offering pursuant to the terms and conditions of this Agreement. 
  
 NOW, THEREFORE, in consideration of the mutual promises and covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement,
intending to be bound hereby, agree as follows: 
  
 1. Services.
Following the Offering, THIRD SECURITY will provide or cause to be provided to NEW RIVER, those corporate and administrative services described in Exhibit A hereto (the “Services”), as requested by NEW RIVER from time to
time. The scope of the Services may be adjusted by the mutual agreement of the parties hereto. 
  
 2. Charges for Services. As consideration for the Services provided hereunder, NEW RIVER agrees to pay the following fees and expenses to THIRD SECURITY: 
  
 (a) Fees for Services performed for NEW RIVER by a vendor,
contractor or similar third party (other than THIRD SECURITY) shall be equal to the final invoiced costs charged by such third party to THIRD SECURITY for the performance of such Services. 
  
 (b) With respect to all other Services provided by THIRD
SECURITY employees, NEW RIVER will pay to THIRD SECURITY an hourly rate calculated as follows for each THIRD SECURITY employee providing Services in a given invoice period under this Agreement: such hourly rate shall equal [the annual salary of the
THIRD SECURITY employee performing the given Services plus a thirty percent (30%) markup to cover the cost of overhead and fringe benefits provided to such THIRD SECURITY employee] divided by 2,080 hours. In addition, NEW RIVER will pay reasonable
travel and other out-of-pocket expenses incurred in connection therewith. 
  
 (c) All travel and out-of-pocket expenses of THIRD SECURITY made in accordance with the then effective policies of THIRD SECURITY governing such expenses will be deemed reasonable and may not be subject to any
dispute. 

 3. Payments. 
  
 (a) THIRD SECURITY shall submit to NEW RIVER by the fifteenth (15th) day of each month an invoice for all charges associated with Services provided during the preceding month, including any other amounts payable in respect of
prior invoice periods. All invoices shall reference the Services provided and the charges associated therewith, any related adjustments and any other amounts that are payable. Except as provided in subparagraph (b) below, NEW RIVER shall remit
payment in full for all charges invoiced on or before the last business day of the month in which the invoice is received. Payment of all invoices shall be made by check or electronic funds transfer of immediately available funds to an account or
accounts designated by THIRD SECURITY. Any late payment shall bear interest at the rate of one half percent (0.5%) per month or fraction thereof until paid. 
  
 (b) In the event of a dispute as to an invoiced amount, NEW RIVER shall promptly pay all undisputed amounts, but shall be entitled to
withhold amounts in dispute, and shall promptly notify THIRD SECURITY of such dispute and the basis therefor. The parties agree to provide each other with sufficient records and information to resolve such dispute and, without limiting the rights
and remedies of the parties hereunder, to negotiate in good faith a resolution thereto. Notwithstanding this clause (b), the late payment interest provision in Section 3(a) shall apply to all such withheld amounts that are ultimately determined to
be due and payable, which amounts, including any interest, shall be promptly remitted to THIRD SECURITY in the manner provided herein. 
  
 4. Term of Agreement. The term of this Agreement shall commence immediately upon the date hereof and continue for a period of twenty four (24) months unless
terminated by agreement of the parties hereto (except with respect to the services identified in Paragraph 7 of Exhibit A, which shall be provided until December 30, 2007). Notwithstanding the foregoing this Agreement shall become terminable at any
time by NEW RIVER upon delivery of written notice to THIRD SECURITY with respect to any Services or any part thereof. Termination under this Section 4 or otherwise shall have no effect on the obligations of the parties to provide Services prior to
the effective date of such termination or to make payments in respect of charges incurred in connection therewith or which relate to events occurring prior to such date. 
  
 5. Performance of Services. 
  
 (a) THIRD SECURITY shall perform the Services or cause the Services to be performed with the same degree of care, skill, timeliness and
prudence customarily exercised with respect to its own operations. It is understood and agreed that the Services will be substantially identical in nature and quality to the Services performed by THIRD SECURITY for NEW RIVER during the year prior to
the commencement of the term of this Agreement, except with respect to such services required to effect the Offering. 
  
 (b) Each party acknowledges that the Services will be provided only with respect to NEW RIVER’s business. Services will not be
requested for the benefit of any entity other than NEW RIVER. NEW RIVER agrees that it will use the Services only in accordance with all applicable federal, state and local laws, and regulations and in accordance with the reasonable conditions,
rules, regulations and specifications which are or may be set forth in any manuals, materials, documents or instructions of THIRD SECURITY. THIRD SECURITY reserves the right to take all actions, including the termination of any Services or part
thereof, in order to ensure that the Services are provided in accordance with any applicable laws and regulations. 
  
 (c) Any input or information needed by either party to perform or utilize the Services pursuant to the provisions of this Agreement shall
be provided by the other party in a manner consistent with the practices employed by the parties during the year prior to the date of this Agreement. Should the failure by NEW RIVER to provide such input or information render the performance of the
Services impossible or unreasonably difficult, THIRD SECURITY may, upon reasonable notice, refuse to provide such Services. 
  

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 6. Liability and Indemnification. Except as provided below, THIRD SECURITY and all of its managing
directors, officers, agents and employees shall have no liability, whether direct or indirect, in contract, tort or otherwise, under this Agreement for any damage, loss or other harm (including, without limitation, out-of-pocket expenses and fees
and disbursements of counsel) of any type suffered by NEW RIVER or any third party in connection with the performance or non-performance of this Agreement or the Services contemplated hereby or any action or in-action of any of the indemnified
parties in connection with the foregoing, except for any such damage, loss or other harm directly caused by or directly resulting from the gross negligence or willful misconduct of THIRD SECURITY in connection with the performance or non-performance
of this Agreement or the Services contemplated hereby or the action or inaction of any of the indemnified parties in connection with the foregoing. In the event of a third party claim, NEW RIVER, including its successors and assigns, for itself and
on behalf of all of its subsidiaries, shall indemnify, defend and hold harmless THIRD SECURITY and all of its managing directors, officers, agents and employees from and against any and all such damages, losses and other harms (including, without
limitation, out-of-pocket expenses and fees, counsel fees and disbursements of counsel) caused by or arising out of the performance or non-performance of this Agreement or the Services contemplated hereby or the actions or in-actions of any of the
indemnified parties in connection with the foregoing other than any such damage, loss or other harm directly caused by or directly resulting from the gross negligence or willful misconduct of THIRD SECURITY in connection with the performance or
non-performance of this Agreement or the Services contemplated hereby or the actions or in-actions of any of the indemnified parties in connection with the foregoing. The total liability of THIRD SECURITY under this Section 6 will not under any
circumstances exceed the aggregate amount of actual fees paid to THIRD SECURITY by NEW RIVER pursuant to this Agreement. Notwithstanding any other provision of this Agreement, THIRD SECURITY shall have no liability for (i) any lost profits or any
incidental, consequential, special, indirect or similar damages of any kind or nature whatsoever of NEW RIVER or any third party (including the fees and expenses of counsel) or (ii) the acts or omissions of any third party (other than THIRD
SECURITY) that provides Services hereunder. This Section 6 shall survive the termination of this Agreement until such time as the obligations of the parties (including their respective successors and assigns) set forth in this Section 6 have been
fully satisfied. 
  
 7. Confidentiality. The parties each agree to
hold in trust and maintain confidential, and, except as required by law or applicable rules and regulations promulgated thereunder or by court order or other legal process, not to disclose to others without first obtaining the prior written approval
of the other party, any information received by it from the other party or developed or otherwise obtained by it under this Agreement, including all information resulting from the provision or utilization of the Services hereunder (collectively, the
“Information”). At the time of termination of this Agreement in whole or in part, each party shall, within 90 days after the effective date of such termination, return to each other all written Information that it obtained and shall not
retain or allow any third party to retain photocopies or other reproductions of such Information, provided that (i) the parties may retain any Information to the extent reasonably needed to comply with applicable tax, accounting or financial
reporting requirements or to resolve any legal issues identified at the time of termination, and (ii) in the case of a partial termination of this Agreement, the parties may retain any Information required to perform or utilize any remaining
Services covered by this Agreement. Alternatively, each party may, upon receipt of the written consent of the other party, destroy such Information instead of returning the same pursuant to the foregoing sentence. The obligations set forth in this
Section 7 shall not apply to any Information that is shown by either party to be or have become knowledge generally available to the public other than through the acts or omissions of such party. 
  

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 8. Assignment. Neither party shall assign or transfer any of its rights or delegate any of its obligations
under this Agreement without first obtaining the prior written consent of the other party, which consent may be withheld by such other party in its sole discretion; provided that THIRD SECURITY shall be permitted to cause any Services to be provided
or caused to be provided by THIRD SECURITY through one or more third parties selected by THIRD SECURITY; and provided further that the selection of any third party by THIRD SECURITY shall be subject to the prior written consent of NEW RIVER (which
shall not be unreasonably withheld or delayed) unless such third party shall have provided the same or similar Services to THIRD SECURITY at any time during the twelve (12) months immediately preceding the date of this Agreement. This Agreement
shall be binding upon and inure to the benefit of the parties hereto and their successors and permitted assigns. 
  
 9. Notices. All notices and other communications hereunder shall be in writing and shall be delivered in person, by United States mail, certified, return
receipt requested, postage prepaid, by express mail by a nationally recognized carrier, or by facsimile transmission (provided, if sent by facsimile transmission, such notice shall also be sent by one of the other methods provided under this section
within 24 hours after initially sent by facsimile transmission) to the following: 
  
 Third Security, LLC 
 Attn: Legal Department 
 The Governor Tyler 
 1881 Grove Ave 
 Radford, VA 24141 
 Fax No.: 540-633-7939 
  
 New River Pharmaceuticals Inc. 
 Attn: Secretary 
 The Governor Tyler 
 1881 Grove Ave 
 Radford, VA 24141 
 Fax No.: 540-633-7939 
  
 or to such other addresses as either party may
designate from time to time in writing. The date of any notice so sent will be deemed to be the date of receipt (or refusal), in the case of United States mail, the following business day, in the case of overnight express mail, and, in the case of
facsimile transmission, upon receipt if received during the recipient’s normal business hours, or at the beginning of the recipient’s next business day if not received during the recipient’s normal business hours. 
  
 10. Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the Commonwealth of Virginia, without giving effect to the principles of conflicts of laws thereof. 
  
 11. Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed an original but all of which
shall together constitute but one and the same instrument. 
  
 12.
Headings. The headings and captions set forth in this Agreement are for convenience of reference only and shall not affect the construction or interpretation hereof. 
  
 13. Severability. The provisions of this Agreement are severable and should any provisions hereof be void, voidable or
unenforceable under any applicable law, such provision shall not affect or invalidate any other provision of this Agreement, which shall continue to govern the relative rights and duties of the parties as though such void, voidable or unenforceable
provision were not a part hereof. 
  

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 14. Entire Agreement. This Agreement constitutes the entire agreement of the parties with respect to the
subject matter hereof and supersedes all prior and contemporaneous agreements and understandings, oral or written, with respect thereto. This Agreement may not be amended or otherwise modified or supplemented except by a written instrument duly
executed by both parties. No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the
exercise of any other right, power or privilege. 
  
 IN WITNESS
WHEREOF, the parties hereto have duly executed this Agreement as of the date first above written. 
  

							
	THIRD SECURITY, LLC	 	NEW RIVER PHARMACEUTICALS INC.
				
	By:	 	 /s/ Randal J. Kirk

	 	By:	 	 /s/ Randal J. Kirk

	Name:	 	Randal J. Kirk	 	Name:	 	Randal J. Kirk
	Title:	 	Senior Managing Director	 	Title:	 	Chairman, President and Chief Executive Officer

  
  

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