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                                                                   EXHIBIT 10.31

              LICENSE, DEVELOPMENT AND COMMERCIALIZATION AGREEMENT

THIS LICENSE, DEVELOPMENT AND COMMERCIALIZATION AGREEMENT (the "Agreement"),
effective as of January 15, 2007 (the "Effective Date"), is entered into by and
between BAYER SCHERING PHARMA AKTIENGESELLSCHAFT, a German corporation having
its principal place of business at Muellerstrasse 178, 13353 Berlin, Germany
("Schering"), and MOLECULAR INSIGHT PHARMACEUTICALS, INC., a Delaware
corporation having its principal place of business at 160 Second Street,
Cambridge, Massachusetts 02142, USA ("Molecular Insight"). Schering and
Molecular Insight both may be referred to herein individually as a "Party" and
collectively as the "Parties".

                                   BACKGROUND

WHEREAS:

A.   Schering owns certain intellectual property rights relating to I-131
     labeled ZK-BA, a new class of proprietary benzamide compounds highly
     accumulating in metastatic melanoma, that may be of use in the field of
     oncology, in particular for the diagnosis and treatment of metastatic
     melanoma.

B.   Molecular Insight desires to obtain from Schering an exclusive, worldwide
     license in such intellectual property rights to make, use, sell, offer for
     sale, and import pharmaceutical products; and

C.   Schering is willing to grant such license to Molecular Insight on the terms
     and conditions hereinafter set forth.

NOW, THEREFORE, the Parties hereby agree as follows:

1. DEFINITIONS

     As used in this Agreement, the following terms shall have the meanings
indicated:

     1.1  "Affiliate" means, with respect to a Party, any person, corporation,
          firm, joint venture or other entity which, directly or indirectly,
          through one or more intermediates, controls, is controlled by or is
          under common control with such Party. As used in this definition,
          "control" means possession of the power to direct or cause the
          direction of the management and policies of an entity, whether through
          the ownership of the outstanding voting securities or by contract or
          otherwise.

     1.2  "Agreement" shall mean this Agreement.

     1.3  "Business Day" means any day that is not a Saturday, a Sunday or other
          day on which banks are required or authorized by law to be closed in
          Berlin, Germany or Cambridge, MA, USA.

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     1.4  "Clinical Trial" means a Phase I Clinical Trial, Phase II Clinical
          Trial or a Phase III Clinical Trial utilizing the Compounds in the
          Field.

     1.5  "Commercialization" and "Commercialize" shall refer to all activities
          undertaken relating to the manufacture, pre-marketing, marketing,
          distribution and sale of a Product, and the process of
          Commercialization, respectively.

     1.6  "Commercially Reasonable Efforts" means the level of endeavor which a
          company in the prescription pharmaceutical industry comparable in size
          to Molecular Insight and active in development and commercialization
          of pharmaceutical compositions would ordinarily expend for a product
          with an equivalent sales and profit potential to a relevant Product.

     1.7  "Compounds" means the ZK-BA compounds and derivatives thereof, a new
          class of benzamide compounds highly accumulating in metastatic
          melanoma, that may be of use in the field of oncology, and in
          particular for the diagnosis and treatment of metastatic melanoma as
          more fully described in ANNEX 1.7 attached hereto and made a part
          hereof.

     1.8  "Confidential Information" means all information belonging to or in
          the possession of the Parties and their Affiliates which they consider
          confidential including, without limitation, information concerning the
          study, discovery, design, development, manufacture, formulation,
          extraction, compounding, mixing, processing, testing, control,
          preservation, storage, finishing, packing, packaging, use,
          administration, distribution, sale, reimbursement and/or marketing of
          pharmaceutical products or compounds and potential products or
          compounds, and shall further include, without limitation, all
          information marked "confidential" by a Party, data from and
          methodology of pre-clinical and clinical studies, the contents of any
          submissions to regulatory authorities worldwide, marketing plans or
          computer hardware and software systems and designs and plans for same.
          Confidential Information may be conveyed in written, graphical,
          physical or oral form

     1.9  "Control" or "Controlled" shall mean possession of the ability to
          grant the licenses or sublicenses as provided for herein without
          violating the terms of any agreement or other arrangement with any
          Third Party.

     1.10 "Development" means all activities, or the performance thereof,
          relating to preclinical development and clinical development, as are
          customary in the pharmaceutical industry as part of the process of
          obtaining Regulatory Approval.

     1.11 "Development Plan" has the meaning contained in Section 6.1.

     1.12 "Drug Approval" means the regulatory approval required before
          commercial sale or use of a Product as a drug in a regulatory
          jurisdiction, including, for purposes of Regulatory Approval in the
          US, a New Drug or a Biological License and all supplements filed
          pursuant to the requirements of the FDA (including all documents, data
          and other information concerning a Product that are necessary for, or
          included in, FDA approval to market a Product) and, for purposes of
          Regulatory Approval in the EU, all and any regulatory approval by the
          EMEA or any other applicable national regulatory authority.

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     1.13 "Effective Date" shall have the meaning set forth at the head of this
          Agreement.

     1.14 "EMEA" means the European Medicines Evaluation Agency, or any
          successor agency with responsibility for regulating the development,
          manufacture and sale of human pharmaceutical products.

     1.15 "EU" means the countries of the European Union, as constituted from
          time to time.

     1.16 "FDA" means the United States Food and Drug Administration of the
          Department of Health and Human Services, or any successor agency with
          responsibility for regulating the development, manufacture and sale of
          human pharmaceutical products.

     1.17 "FDA Equivalent" means the equivalent of FDA, but in a legal
          jurisdiction other than the US.

     1.18 "Field" means any use in the diagnosis, cure, mitigation, treatment or
          prevention of disease in human beings in the field of oncology.

     1.19 "Final Milestone Payment" has the meaning contained in Section 4.2.

     1.20 "First Commercial Sale" means the date Molecular Insight or an
          Affiliate or Sublicensee of Molecular Insight first sells, or
          otherwise disposes of, commercially to a third party, a Product
          pursuant to a Regulatory Approval.

     1.21 "GCP" means the Good Clinical Practices guidelines published by FDA,
          and published standards of FDA (or other standards of FDA that are
          generally recognized within the United States pharmaceutical industry)
          that relate to the conduct of clinical studies in humans. GCP also
          includes similar standards, guidelines and regulations promulgated or
          otherwise required by the European Commission, and published standards
          of the European Commission (or other standards of the European
          Commission that are generally recognized within the European
          pharmaceutical industry), including the ICH Harmonised Tripartite
          Guideline for Good Clinical Practice, as amended from time to time.

     1.22 "GLP" means the Good Laboratory Practices Regulations promulgated by
          FDA, as they may be amended from time to time. GLP also includes
          published standards of FDA (or other standards of FDA that are
          generally recognized within the United States pharmaceutical industry)
          that relate to the conduct of preclinical studies in animals. GLP also
          includes similar standards, guidelines and regulations promulgated or
          otherwise required by the European Commission, and published standards
          of the European Commission (and other standards of the European
          Commission that are generally recognized within the European
          pharmaceutical industry), including Council Directive 2001/83/EC, as
          amended from time to time.

     1.23 "GMP" means the Good Manufacturing Practices regulations and General
          Biologics Products Standards promulgated by FDA, as they may be
          amended from time to time. GMP also includes published standards of
          FDA (or other

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          standards of FDA that are generally recognized within the United
          States pharmaceutical industry) that relate to the testing,
          manufacturing, processing, packaging, holding or distribution of drug
          or biologic drug substances and finished drugs or biologics. GMP also
          includes similar standards, guidelines and regulations promulgated or
          otherwise required by the European Commission, and published standards
          of the European Commission (and other standards of the European
          Commission that are generally recognized within the European
          pharmaceutical industry), including the Guide to Good Manufacturing
          Practices for Medicinal Products as promulgated under European
          Directive 91/356/EEC, as amended from time to time.

     1.24 "IND" means an Investigational New Drug application filed with FDA
          pursuant to 21 CFR 312.1 et seq., as such regulations may be amended
          from time to time.

     1.25 "IND Equivalent" means the equivalent of an IND, but in a legal
          jurisdiction other than the US.

     1.26 "Know-How" means Information relating to the Technology in the Field
          and the development of Products in the Field, including, but not
          limited to, inventions, techniques, practices, methods, knowledge,
          know-how, skill, trade secrets, experience and test data (including
          pharmacological, toxicological, preclinical and clinical test data);
          data, records and information derived from research, preclinical
          development and clinical development; regulatory submissions, adverse
          reactions, CMC/process development, analytical and quality control
          data, and Commercialization, marketing, pricing, distribution, cost,
          sales and manufacturing data or descriptions and provided to Molecular
          Insight as set forth in Annex 1.39.

     1.27 "Technology" shall mean benzamide compounds highly accumulating in
          metastatic melanoma controlled by Schering.

     1.28 "Molecular Insight Intellectual Property" means Molecular Insight
          Patents and Molecular Insight Know-How.

     1.29 "NDA" means a New Drug Application filed with the FDA, for approval by
          such agency for the sale of Products in the US pursuant to 21 CFR 200
          et seq., as such regulations may be amended from time to time.

     1.30 "NDA Equivalent" means the equivalent of an NDA, but in a legal
          jurisdiction other than the US.

     1.31 "Net Sales" means with respect to any Product, the gross revenues
          received by Molecular Insight or its Affiliates or Sublicensees or
          distributors from worldwide sales of such Product, less deductions
          for: (a) transportation charges, including insurance actually paid;
          (b) sales and excise taxes and duties paid or allowed by a selling
          party and any other governmental charges imposed upon the production,
          inspection, use or sale of such Product; (c) any distributors fees,
          rebates or allowances, quantity or cash discounts, chargebacks, or
          fees actually granted in the ordinary course of business; (d)
          allowances or credits to customers, not in excess of the selling price
          of the Product, on account of governmental requirements, rejection,
          outdating or return of such Product. For the purpose of

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          calculating Molecular Insight's Net Sales, the Parties recognize that
          (i) Molecular Insight's customers may include parties in the chain of
          commerce who enter into agreements with Molecular Insight as to price
          even though legal title to the Product does not pass directly from
          Molecular Insight to such customers, and even though payment for such
          Product is not made by such customers to Molecular Insight, and (ii)
          in such cases, chargebacks paid by Molecular Insight to or through a
          Third Party (such as a wholesaler) can be deducted by Molecular
          Insight from gross revenues in order to calculate Molecular Insight's
          Net Sales. Sales between Molecular Insight and Affiliates shall be
          excluded from the computation of Net Sales, except where such entities
          are end users in which case Net Sales shall include Net Sales to such
          entities; provided however, if such entities are using such Products
          solely for research or clinical testing purposes, indigent or other
          public support programs, then such sales between Molecular Insight and
          Affiliates shall be excluded from the computation of Net Sales.

          Upon the sale or other disposal of a Product other than in a bona fide
          arms length transaction exclusively for money or upon any use of a
          Product for purposes which do not result in a disposal of that Product
          in consideration of sales revenue customary in the country of use that
          sale, other disposal or use shall be deemed to constitute a sale at
          the relevant open market price in the country in which the sale, other
          disposal or use occurs, or, if that price is not ascertainable, a
          reasonable price assessed on an arms length basis for the goods or
          services provided in exchange of the supply.

     1.32 "Patents" means: (i) any United States and foreign patent
          applications and patents; (ii) any national, regional and
          international patent applications filed from patent applications and
          patents included in (i), including any divisional and continuation
          applications of the patent applications and patents included in (i)
          and any continuation-in-part applications to the extent dominated by
          patent applications and patents included in (i); (iii) any and all
          patents that have issued or in the future issue from patent
          applications included in (i) and (ii); and (iv) any and all extensions
          or restorations by existing or future extension or restoration
          mechanisms, including substitutions, reexaminations, revalidations,
          reissues, renewals, and extensions thereof.

     1.33 "Phase I Clinical Trials" has the meaning described in 21 CFR 300 et
          seq.

     1.34 "Phase II Clinical Trials" has the meaning described in 21 CFR 300 et
          seq.

     1.35 "Phase III Clinical Trials" has the meaning described in 21 CFR 300 et
          seq. or such other pivotal clinical trial that will serve as a basis
          for FDA approval.

     1.36 "Product" means any pharmaceutical product the manufacture, use, sale,
          offer for sale, or import of which would infringe a Valid Claim of
          Schering Patents in the absence of a license.

     1.37 "Regulatory Approval" means any approval, product and/or establishment
          license, registration or authorization of any federal, state or local
          regulatory agency, department, bureau or other governmental entity,
          necessary for the commercial manufacture, use, storage, import,
          export, transport, commercialization or sale of a Product in a
          regulatory jurisdiction.

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     1.38 "Schering Intellectual Property" means Schering Know-How and Schering
          Patents.

     1.39 "Schering Know-How" means Know-How within the control of Schering as
          of the Effective Date relating to the development of Products as
          contained in the documentation listed in ANNEX 1.39, excluding
          Schering's know-how in relation to the administration of the Compounds
          and the use of blood-supply modulators to reduce eye uptake in order
          to minimize potential side effects of the Compounds. Notwithstanding
          anything herein to the contrary, Schering Know-How shall exclude
          Schering Patents.

     1.40 "Schering Patents" means the patents and patent applications listed in
          ANNEX 1.40.

     1.41 "Sublicensee" shall mean a Third Party (except an Affiliate) to whom
          Molecular Insight has granted a sublicense to make, import, use, sell,
          offer for sale Products in the Territory.

     1.42 "Territory" shall mean all countries of the world.

     1.43 "Third Party" means any entity other than Schering or Molecular
          Insight and its respective Affiliates.

     1.44 "US" means the United States of America and its territories and
          commonwealths, including, without limitation, the Commonwealth of
          Puerto Rico.

     1.45 "Valid Claim" means a claim of (a) any unexpired Patent that has not
          been withdrawn, canceled or disclaimed nor held to be invalid or
          unenforceable by a court or tribunal of competent jurisdiction in an
          unappealed or unappealable decision or, (b) of any pending patent
          application, that has not been finally rejected in an unappealed or
          unappealable decision by the relevant patent office or court.

2. LICENSE GRANTS AND CONVEYANCE OF MATERIALS

     2.1 Exclusive License to Molecular Insight. Subject to the terms and
conditions of this Agreement, Schering hereby grants to Molecular Insight an
exclusive (even as to Schering) worldwide, royalty-bearing license under the
Schering Patents and Schering Know-How to make, use, sell, offer to sell and
import Products in the Field in the Territory. Such licenses shall include the
right to grant sublicenses under the Schering Intellectual Property, subject to
the provisions of Section 2.3.

     2.2 Grant of Option. Subject to the filing of a patent application by
Schering in relation to the administration of Compounds and the use of
blood-supply modulators to reduce eye uptake in order to minimize potential side
effects of the Compounds (such intellectual property rights collectively herein
referred to as "Eye Technology"), Schering hereby grants to Molecular Insight an
Option to obtain a    *  *       license to the Eye Technology in the Field at
fair market value. Molecular Insight may exercise the Option within four (4)
months after Schering notifies Molecular Insight in writing that the Eye
Technology patent application has been filed ("Option Period"). During the
Option Period, Schering grants Molecular Insight a non-

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                       *Confidential Treatment Requested*
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exclusive license under the Eye Technology for the purpose of evaluation and
research only.

     2.3 Sublicenses. Subject to the terms and conditions of this Agreement,
Molecular Insight shall have the right to sublicense the rights granted in
Section 2.1 above. Each such sublicense shall be consistent with all the terms
and conditions of this Agreement. Molecular Insight shall remain responsible to
Schering for all of each such Sublicensee's applicable financial and other
obligations under each sublicense.

     2.4 No Further Rights. Only the licenses granted pursuant to the express
terms of this Agreement shall be of any legal force or effect. No other license
rights shall be granted or created by implication, estoppel or otherwise.

     2.5 Transfer of Schering Know-How. Schering undertakes to physically
transfer the items described in ANNEX 1.39 within 15 days of the effective date
of this Agreement to Molecular Insight at its address set forth above.

     2.6 Conveyance of Materials. Within thirty (30) days after the Effective
Date, Schering will transfer to Molecular Insight the materials in relation to
the Schering Patent, including as examples benzamide compound samples and
lyophilized vials as listed in ANNEX 2.6 to this Agreement, which are in
Schering's possession on the Effective Date.. Delivery shall be FOB Schering AG
or any other location at which Schering stores such materials, but will be,
otherwise, free of additional charge. Schering will provide the materials to
Molecular Insight without warranty of quality or fitness for a particular
purpose or any other warranty, express or implied.

3. CONSIDERATION

     3.1 Up-front Payment. In partial consideration of the rights granted to it
by Schering under this Agreement, Molecular Insight shall pay to Schering an
up-front fee in the amount of      **      US dollars (USD     **    ) upon the
Effective Date. The said up-front payment will be unconditional and as such
shall not be subject to any offset, credit, reduction or repayment for any
reason whatsoever, whether provided for in this Agreement or not.

     3.2 Milestone Payments. Upon the occurrence of the relevant events
specified below with respect to each Product, Molecular Insight shall pay to
Schering the following amounts:

<TABLE>
<CAPTION>
                        Milestone                              Amount
                        ---------                              ------
<S>                                                         <C>
Commencement of Phase II Clinical Trial                     USD   **
Commencement of Phase III Clinical Trial                    USD   **
Receipt of first Drug Approval for marketing of a Product
   from FDA or FDA Equivalent (the "Final Milestone
   Payment")                                                USD   **
</TABLE>

     A Clinical Trial will be deemed to have commenced upon the dosing of the
first patient.

     The Final Milestone Payment is payable in   **  installments: The first
installment in the amount of      **      US dollars (USD     **    ) shall be
paid promptly after the first Drug Approval of a Product. The remaining  **
   **    US dollars (USD     **    ) are payable in

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       **      installments starting three (3) months after the date of the
first Drug Approval for marketing of a Product.

     3.3 Royalties.

          3.3.1 Royalty on Net Sales. In partial consideration for the license
granted hereunder, Molecular Insight shall pay to Schering royalties for the
sale of Products, on a country-by-country basis, for a period from the date of
First Commercial Sale of a particular Product until the later of the expiration
of the last to expire Patent containing a Valid Claim or ten (10) years from the
date of First Commercial Sale.

          3.3.2 Royalty Rates. The royalty rates payable by Molecular Insight on
Net Sales of Products are as follows:

<TABLE>
<CAPTION>
                                Net Sales                                   Rate
                                ---------                                   ----
<S>                                                                         <C>
Sales of less than USD      **                                              **%
Sales equal or greater than USD     **      but less than USD      **       **%
Sales equal or greater than USD     **                                      **%
</TABLE>

4. PAYMENT

     4.1 Royalty Reports and Payments. Molecular Insight shall make royalty
payments to Schering within sixty (60) days after the end of each calendar
quarter in which Net Sales occurred. A report summarizing the Net Sales of each
Product during the relevant quarter on a country-by-country basis shall be
delivered to Schering within sixty (60) days following the end of each calendar
quarter for which royalties are due.

     4.2 Payments; Interest. Any payments due under this Agreement shall be due
on such date as specified in this Agreement and, in the event such date is not a
Business Day, then the next succeeding Business Day. Any failure by Molecular
Insight to make a payment within ten (10) Business Days after the date when due
shall obligate Molecular Insight to pay computed interest, the interest period
commencing on the due date and ending on the payment date, to Schering at a rate
per annum equal to the EURIBOR or USD LIBOR, as the case may be (according to
the underlying payment due), for one month quoted on the due date by the
European Central Bank plus a premium of three percent (3%). The interest rate
shall be adjusted monthly and interest shall be compounded monthly in arrears.
In addition, interest shall be computed on the basis of a 360 day year actual
days elapsed, and shall be due and payable on the tender of the underlying
principal payment.

     4.3 Taxes. Schering shall pay any and all taxes levied on account of all
payments it receives under this Agreement. If laws or regulations require that
taxes be withheld, Molecular Insight will (a) deduct those taxes from the
remittable payment, (b) timely pay the taxes to the proper taxing authority, and
(c) send proof of payment to Schering within thirty (30) days of receipt of
confirmation of payment from the relevant taxing authority. Molecular Insight
agrees to make reasonable efforts to minimize such taxes to Schering. If
Molecular Insight is so required then Schering and Molecular Insight shall
co-operate in all respects and take reasonable steps to lawfully avoid the
making of any such deductions.

     4.4 Payment Currency. All payments due hereunder will be paid to Schering
in US Dollars. All payments shall be paid by wire transfer of immediately
available funds to an account

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at a commercial bank designated by Schering at least ten (10) Business Days
before payment is due. Where payments are based on Net Sales in countries other
than in the USA, the amount of such payments expressed in the currency of each
country shall be converted into US Dollar at the exchange rate of the last
Business Day of the applicable calendar quarter. The applicable exchange rate
will be the 12PM Buying Rates published by the Federal Reserve Bank of New York
on REUTERS screen (FEDSPOT). If no 12PM Buying Rate is determined for the
relevant currency, the Parties shall agree upon another reference rate.

     4.5 Records of Revenues. Molecular Insight shall keep for five (5) years
from the date of each payment of royalties complete and accurate records of
sales by Molecular Insight of each Product in sufficient detail to allow the
accruing royalties to be determined accurately. Schering shall have the right
for a period of five (5) years after receiving any report or statement with
respect to royalties due and payable to appoint at its expense an independent
certified public accountant reasonably acceptable to Molecular Insight to
inspect the relevant records of Molecular Insight to verify such report or
statement. Molecular Insight shall make its records available for inspection by
such independent certified public accountant during regular business hours at
such place or places where such records are customarily kept, upon reasonable
notice from Schering, to verify the accuracy of the reports and payments. Such
inspection right shall not be exercised more than once in any calendar year nor
more than once with respect to sales in any given period. The failure of
Schering to request verification of any report or statement during said
three-year period shall be considered acceptance of the accuracy of such report,
and Molecular Insight shall have no obligation to maintain records pertaining to
such report or statement beyond said three-year period. The findings of each
inspection, if any, shall be binding on both parties.

Schering shall bear its own costs related to such audit; provided, that for any
underpayments greater than five percent (5%) by Molecular Insight, Molecular
Insight shall pay Schering the amount of underpayment, interest as provided for
in Section 4.2 from the time the amount was due and Schering's out-of-pocket
expenses. For any underpayments less than five percent (5%) by Molecular Insight
found under this Section 5.5(a), Molecular Insight shall pay Schering the amount
of such underpayment. Any overpayments by Molecular Insight will, at Schering's
option, be refunded to Molecular Insight or credited to future royalties. Any
records or accounting information received from Molecular Insight shall be
confidential information for purposes of Sections 5.1 and 5.2. Results of any
such audit shall be provided to both Parties and shall be confidential
information for purposes of Sections 5.1 and 5.2.

5. CONFIDENTIALITY

     5.1 Confidential Information. Except as expressly provided herein, the
Parties agree that, for the term of this Agreement and for ten (10) years
thereafter, the receiving Party shall keep confidential and shall not publish or
otherwise disclose and shall not use for any purpose except for the purposes
contemplated by this Agreement, any Information furnished to it by the
disclosing Party hereto pursuant to this Agreement, except that to the extent
that it can be established by the receiving Party by competent proof that such
Information:

          5.1.1 is or becomes public or available to the general public
otherwise than through the act or default of the receiving Party;

          5.1.2 is obtained by the receiving Party from a Third Party who is not
subject to an obligation of confidentiality or non-use owed to the disclosing
Party;

          5.1.3 is previously known to the receiving Party prior to disclosure
to the

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receiving Party by the disclosing Party under this Agreement, as shown by
written evidence, and is not obtained or derived directly or indirectly from the
disclosing Party;

          5.1.4 is disclosed by the receiving Party pursuant to the requirement
of law, provided that the receiving Party has complied with the provisions set
forth in Section 6.3; or

          5.1.5 is independently developed by the receiving Party without the
use of or reliance on any Information provided by the disclosing Party
hereunder, as shown by contemporaneous written evidence.

     5.2 Legal Disclosure. If the receiving Party becomes legally required to
disclose any Information provided by the disclosing Party, the receiving Party
will give the disclosing Party prompt notice of such fact so that the disclosing
Party may obtain a protective order or other appropriate remedy concerning such
disclosure and/or waive compliance with the non-disclosure provision of this
Agreement. The receiving Party will reasonably cooperate with the disclosing
Party in connection with the disclosing Party's efforts to obtain any such order
or other remedy. If any such order or other remedy does not fully preclude
disclosure or the disclosing Party waives such compliance, the receiving Party
will make such disclosure only to the extent that such disclosure is legally
required and will use its reasonable efforts to have confidential treatment
accorded to the disclosed Information.

     5.3 Public Disclosure. Except as otherwise required by law, neither Party
shall issue a press release or make any other public disclosure concerning this
Agreement or the subject matter hereof without the prior written approval of
such press release or public disclosure by the other Party. Each Party shall
submit any such press release or public disclosure to the other Party for its
prior review and approval, which approval shall not be unreasonably withheld. If
the receiving Party does not respond within fifteen (15) days from submission,
the press release or public disclosure shall be deemed approved. The contents of
any such announcement or similar publicity that has been reviewed and approved
by the reviewing Party can be re-released by either Party without a requirement
for re-approval. The principles to be observed by Schering and Molecular Insight
in public disclosures with respect to this Agreement shall be: accuracy,
compliance with applicable legal requirements, the requirements of
confidentiality under this Section 5 and normal business practice in the
pharmaceutical industry for disclosures by companies comparable to Schering and
Molecular Insight. Notwithstanding the foregoing, either Party may issue such
press releases as it determines, based on advice of counsel, are reasonably
necessary to comply with law or for appropriate market disclosure. It is
understood, however, that unless required by law, the Parties shall not disclose
the specific financial terms and conditions of this Agreement. In addition, if a
public disclosure is required by law, with the exception of any filing with the
US Securities and Exchange Commission, and provided, however, that such
exception does not apply to the disclosure of this Agreement and/or its Annexes,
nor any documents or data related to this Agreement, or the cooperation
hereunder, the disclosing Party shall provide copies of the disclosure
reasonably in advance of such filing or other disclosure for the non-disclosing
Party's prior review and comment and shall give due consideration to any
reasonable comments by the non-filing Party relating to such filing, including
without limitation the provisions of this Agreement for which confidential
treatment should be sought.

     5.4 Scientific Publications. Schering shall be permitted to publish
scientific publications in relation to the Compounds, provided that Schering
notifies Molecular Insight of any proposed publication forty-five (45) days in
advance of the proposed submission date to

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enable Molecular Insight to examine the proposal and evaluate whether such
publication would endanger any patent claim Molecular Insight wishes to seek
patent protection for, in which case the Parties shall agree on a modification
of such publication which meets the interests of both Parties. In case Schering
notifies Molecular Insight that it has no interest in a patent application,
Molecular Insight shall have an additional forty-five (45) days to file any
relevant patent applications.

     5.5 Confidential Terms. Except as expressly provided herein, each Party
agrees not to disclose any terms of this Agreement to any Third Party without
the consent of the other Party; except that disclosures may be made as required
by securities or other applicable laws, or to actual or prospective investors,
corporate partners or acquirers, or to a Party's accountants, attorneys and
other professional advisors. For the avoidance of doubt, each Party may disclose
the terms of this Agreements to its Affiliates.

     5.6 Survival. This Section 5 will survive expiry or termination of this
Agreement for any reason.

6. DILIGENCE

     6.1. Development Plan. An outline of the development plan is attached to
this Agreement as Annex 6.1.

     Within ninety (90) days of the Effective Date, Molecular Insight shall
prepare a detailed development plan outlining its proposed development
activities, including anticipated timescales. The activities described in the
development plan, as amended from time to time given the exigencies of
pharmaceutical product development, shall be consistent with Molecular Insight's
diligence obligations pursuant to Section 6.2, below.

     6.2 Diligence. Molecular Insight agrees to use Commercially Reasonable
Efforts to develop and Commercialize Products in the Field in the Territory, and
obtain such approvals as may be necessary to manufacture and sell such Products.
Molecular Insight shall have full responsibility for the Development and
Commercialization of Products. All INDs and IND Equivalents and all Drug
Approval Applications will be submitted in the name of Molecular Insight, its
Affiliates or Sublicensees, and all Regulatory Approvals will belong to
Molecular Insight, its Affiliates or Sublicensees. Failure by Molecular Insight
to use Commercially Reasonable Efforts as described in this Section 6.2 will
constitute a breach of a material obligation and will permit Schering - without
prejudice to other remedies - to terminate this Agreement in accordance with
Section 10.2.

     6.3 Compliance with Standards. In respect of any Development activities to
be performed by Molecular Insight, unless expressly agreed with Schering
otherwise, Molecular Insight agrees to perform its obligations in compliance
with applicable laws, regulations and guidances, including without limitation
GCP, GLP and GMP, and the manufacturing and other commitments made in INDs, IND
Equivalents, NDAs and NDA Equivalents.

     6.4 Reports. Molecular Insight shall keep Schering informed of its
development and Commercialization activities with respect to the Compounds and
Products by semi-annually providing Schering with a written report stating the
status of development of, and Commercialization activities relating to, such
Compounds and Products.

                                       11

<PAGE>

     6.5 Development cooperation with Third Parties. In the event that Molecular
Insight considers a cooperation or partnering with Third Parties in regard to
the development of Products, it shall inform Schering accordingly. Such
information to Schering shall not be later than the first contact with a Third
Party to this regard.

7. REPRESENTATIONS AND WARRANTIES

     7.1 General Representations. Each Party hereby represents and warrants to
the other Party as follows:

          7.1.1 Such Party is a corporation duly organized, validly existing and
in good standing under the laws of the jurisdiction in which it is incorporated;

          7.1.2 Such Party has the corporate power and authority and the legal
right to enter into this Agreement and to perform its obligations hereunder and
the execution, delivery and performance by such Party of this Agreement have
been duly authorized by all necessary corporate action. This Agreement has been
duly executed and delivered on behalf of such Party, and constitutes a legal,
valid, binding obligation, enforceable against such Party in accordance with its
terms except as enforceability may be limited by (A) any applicable bankruptcy,
insolvency, reorganization, moratorium or similar law affecting creditor's
rights generally, or (B) general principles of equity, whether considered in a
proceeding in equity or at law;

          7.1.3 All necessary consents, approvals and authorizations of all
governmental authorities and other persons required to be obtained by such Party
in connection with this Agreement have been obtained; and

          7.1.4 The execution and delivery of this Agreement and the performance
of such Party's obligations hereunder (a) do not conflict with or violate any
requirement of applicable laws or regulations or any judgment, injunction,
decree, determination or award presently in effect having applicability to it,
and (b) do not conflict with, or constitute a default under, any agreement of
such Party with any Third Party.

     7.2 Additional Schering Representations and Warranties. Schering represents
and warrants to Molecular Insight as of the Effective Date as follows:

          7.2.1 The Schering Intellectual Property in the Territory is owned and
controlled solely and exclusively by Schering free and clear of any liens,
charges and encumbrances, and no Third Party has any claim of ownership with
respect to the Schering Intellectual Property in the Territory, whatsoever;

          7.2.2 Schering has not previously granted, and will not grant during
the term of this Agreement, any right, license or interest in and to the
Schering Intellectual Property in the Field in the Territory, or any portion
thereof, inconsistent or in conflict with the license granted to Molecular
Insight herein;

          7.2.3 To the best of Schering's knowledge, all patent applications
included in the Schering Patents (i) meet the best mode requirement for
obtaining a patent on the specific compound(s) BA-[list leads], pharmaceutical
compositions thereof and methods of treating or diagnosing cancer therewith,
imposed by the European Patent Office, Japanese Patent Office and the United
States Patent and Trademark Office, as applicable, and (ii) have had paid as of
the

                                       12

<PAGE>

Effective Date all maintenance and/or annuity fees necessary to keep all such
patent applications in good standing in the various jurisdictions within the
Territory in which they have been filed.

          7.2.4 There are no pending or threatened actions, suits,
investigations, claims, judgments or proceedings relating to the Schering
Intellectual Property. Schering is not aware of any issued patent that is or
would be infringed by the development or commercialization of a Product as
contemplated by this Agreement;

          7.2.5 Schering is not aware of any information relating to the
institution or threatened institution of any interference, opposition,
re-examination, reissue, revocation, nullification, or any official proceeding
challenging a Schering Patent;

          7.2.6 Annex 1.401 contains a complete and accurate list of all
Schering Patents in the Territory;

          7.2.7 Schering has disclosed to Molecular Insight or allowed Molecular
Insight access to any facts known to Schering as of the Effective Date that
Schering reasonably believes in good faith to be material regarding: (i)
preclinical and clinical study results and protocols for Compounds and/or
Products; (ii) any communications to and from any Regulatory Authority with
respect to Compounds and/or Products, including, but not limited to, any
regulatory submissions and filings, correspondence with, and minutes of meetings
and telephone conferences with Regulatory Authorities; and (iii) adverse drug
experiences and other IND safety reports with respect to Compounds and/or
Products; and

     7.3 Effect of Representations and Warranties. It is understood that if the
representations and warranties made by a Party under this Article 7 are not true
and accurate, and the other Party incurs damages, liabilities, costs or other
expenses as a result, the Party making such representations and warranties shall
indemnify and hold the other Party harmless from and against any such damages,
liabilities, costs or other expenses incurred as a result.

     7.4 Limitation of Liability. NOTWITHSTANDING ANY OTHER PROVISION CONTAINED
HEREIN TO THE CONTRARY, MOLECULAR INSIGHT SPECIFICALLY WAIVES ANY AND ALL CLAIMS
FOR DAMAGES AGAINST SCHERING OTHER THAN DIRECT DAMAGES, INCLUDING BUT NOT
LIMITED TO PUNITIVE OR EXEMPLARY DAMAGES, HOWEVER DENOMINATED, AND INDIRECT,
CONSEQUENTIAL, OR INCIDENTAL DAMAGES, WHETHER ARISING IN CONTRACT, IN TORT
(INCLUDING WITHOUT LIMITATION NEGLIGENCE), OR ANY OTHER THEORY EVEN IF INFORMED
OF THE POSSIBILITY OF SUCH DAMAGES AND NOTWITHSTANDING ANY FAILURE OF ESSENTIAL
PURPOSE OF ANY LIMITED REMEDY PROVIDED HEREIN. IN NO EVENT SHALL SCHERING'S
LIABILITY FOR DIRECT DAMAGES EXCEED THE AMOUNTS RECEIVED FROM MOLECULAR INSIGHT
HEREUNDER IN THE CONTRACT YEAR DURING WHICH THE CLAIM AROSE.

     7.5 Disclaimer. EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT NOTHING IN
THIS AGREEMENT IS OR SHALL BE CONSTRUED AS:

          7.5.1 A REQUIREMENT THAT SCHERING SHALL FILE ANY PATENT APPLICATION,
SECURE ANY PATENT, OR MAINTAIN ANY PATENT IN FORCE; OR

          7.5.2 AN OBLIGATION TO BRING OR PROSECUTE ACTIONS OR SUITS AGAINST

                                       13

<PAGE>

THIRD PARTIES FOR INFRINGEMENT (EXCEPT TO THE EXTENT AND IN THE CIRCUMSTANCES
STATED IN ARTICLE 10); OR

          7.5.3 GRANTING BY IMPLICATION, ESTOPPEL, OR OTHERWISE, ANY LICENSES OR
RIGHTS UNDER PATENTS OR KNOW-HOW OF SCHERING OTHER THAN THE SCHERING PATENTS AND
THE SCHERING KNOW-HOW AND SCHERING'S INTEREST IN THE JOINT PATENTS, IF ANY; OR

          7.5.4 A REPRESENTATION OR WARRANTY BY SCHERING OF THE ACCURACY,
SAFETY, OR USEFULNESS FOR ANY PURPOSE OF ANY SCHERING KNOW-HOW AT ANY TIME MADE
AVAILABLE BY SCHERING OR OF THE PATENTABILITY OF THE CLAIMS FILED.

          7.5.5 NO GUARANTEE BY SCHERING THAT ANY PRODUCT WILL EVER BE
DEVELOPED, APPROVED FOR MARKETING, SOLD OR OFFERED FOR SALE, OR IF SOLD, WILL
GENERATE REVENUES OR PROFITS FOR LICENSEE.

8. INTELLECTUAL PROPERTY

     8.1 Filing, Prosecution and Maintenance by Schering. With respect to
Schering Patents, Schering shall have the exclusive right:

          (a)  to take all reasonable steps to prosecute all pending patent
               applications included within Schering Patents;

          (b)  to respond to oppositions, nullity actions, re-examinations,
               revocation actions, interference proceedings and similar
               proceedings filed by third parties against the grant of letters
               patent for such applications;

          (c)  to maintain in force any letters patent included in Schering
               Patents by duly filing all necessary papers and paying any fees
               required by the patent laws of the particular country in which
               such letters patent were granted; and

          (d)  subject to the provisions of Section 8.1.1 herein, to cooperate
               fully with and take all necessary actions requested by Molecular
               Insight in connection with the prosecution and maintenance of any
               letters patent included in Schering Patents, including but not
               limited to (i) the filing of any continuation and/or division
               application, (ii) the filing of any patent or patent application
               in one or more extension states, and (iii) the validation of any
               regional patent in at least those regional states requested by
               Molecular Insight.

     Schering shall notify Molecular Insight in a timely manner of any decision
to not pursue an action or to abandon a pending patent application or an issued
patent included in Schering Patents. Thereafter, Molecular Insight shall have
the option, at its expense, of taking such action or continuing to prosecute any
such pending patent application or of keeping the issued patent in force, or all
of these.

                                       14

<PAGE>

          8.1.1 Copies of Documents. Schering shall in a timely manner provide
to Molecular Insight copies of all material documents received or filed in
connection with the prosecution of all Schering Patents, including office
actions, substantive responses, notices of opposition, interference and the
like, notices of allowance or grant, payments of maintenance or annuity fees,
and notices of abandonment. Prior to filing any substantive (i.e., not the mere
perfection of a formality) document in response to an office action issued
during prosecution of any Schering Patent (such as responses or amendments,
affidavits, declarations or the like), for the purpose of informing and
obtaining substantive comment from Molecular Insight patent counsel, Schering
shall in a timely manner provide drafts of such documents to Molecular Insight
so that the Parties' respective patent counsel may proceed in a cooperative
manner to formulate the content of the final version of such documents. In the
event of an initial disagreement between the Parties' respective patent counsel
as to content of such documents or related patent prosecution strategy, the
Parties hereby agree to refer such initial disagreement first to each Parties'
respective business development executives having responsibility over the
administration of this Agreement. Failing resolution of the disagreement by the
Parties' respective business development executives, the disagreement shall be
referred to and resolved by an Executive Vice President level officer of each
Party. Schering shall also provide to Molecular Insight at the end of each
calendar mid-year updates of Annex 1.41., which will include a column indicating
the next action due for each entry and the deadline for completing such next
action.

          8.1.2 Patent Extensions. Molecular Insight shall have the right to
obtain a patent term extension pursuant to 35 USC Section 156 and counterparts
in other countries with respect to one Schering Patent per country and per
Product to the extent that such extensions are available by reason of regulatory
approval of a Product under the Agreement during the period the Agreement is in
effect. Schering shall file requests for such extensions cooperatively with
Molecular Insight and, where necessary, as agent for Molecular Insight.

     8.2 Disclaimer. Neither party may disclaim a Valid Claim within Schering
Patent Rights without the consent of the other.

     8.3 Disclosure of Actual or Threatened Infringement. When information comes
to the attention of either Party to the effect that any Schering Patent has been
or is threatened to be unlawfully infringed by a Third Party, such Party shall
promptly notify the other Party and provide such other Party with the details of
all such information. Molecular Insight shall have the first right at its sole
expense to take or bring such action as it may deem necessary to prosecute or
prevent such unlawful infringement, including the right to bring or defend any
lawsuit, action and/or proceeding involving any such infringement (collectively,
hereinafter "Proceeding"). Molecular Insight shall notify Schering promptly of
the commencement of any such Proceeding. If the law of the jurisdiction of such
Proceeding provides that it is necessary for Schering to join any such
Proceeding, Schering shall, at Molecular Insight's expense, execute all papers
and perform such other acts as may be reasonably required to permit Molecular
Insight to commence and prosecute such Proceeding, in which case Molecular
Insight shall hold Schering free, clear and harmless from any and all costs and
expenses of litigation, including attorneys fees. The Parties acknowledge that
Molecular Insight shall have full control over the prosecution and any possible
settlement of such Proceeding Schering shall have the right, at its own expense,
to be independently represented in such Proceeding by counsel of its own choice.
Notwithstanding the foregoing, whether or not Schering is independently
represented by counsel, Molecular Insight shall not take a position in such
Proceeding conceding the invalidity of any claim included in a Schering Patent
without first obtaining a written consent from Schering, which consent shall not
be unreasonably withheld. Molecular Insight will also timely submit its
proposals for claim interpretation to Schering for approval prior to a Markman
hearing in US

                                       15

<PAGE>

litigation or an analogous time point in any other such Proceeding, Schering's
approval not to be unreasonably withheld. Molecular Insight shall not agree to
any settlement of such Proceeding, which would include a stipulation as to the
validity or scope of any claim included in a Schering Patent without first
obtaining a written consent from Schering, which consent shall not be
unreasonably withheld. If Molecular Insight brings such Proceeding, it shall
have the right first to reimburse itself out of any recovery from such
Proceeding or settlement thereof for all of Molecular Insight's costs and
expenses, including attorneys fees, related to such Proceedings or settlement.
The remainder, if any, of such recovery, shall be treated as Net Sales in the
calendar quarter in which any such recovery was received, entitling Schering to
receive a proportion of such remainder according to the applicable royalty rate
provided in Section 3.3.2, above. If Molecular Insight does not, within one
hundred twenty (120) days of receiving notice from or giving notice to Schering
initiate such Proceeding, Schering shall have the right, but not the obligation,
to initiate a Proceeding for such alleged infringement. Schering may join
Molecular Insight as a party plaintiff, if necessary to initiate or prosecute
such Proceeding, in which event Molecular Insight will cooperate fully to become
a party in such Proceeding and Schering shall hold Molecular Insight free, clear
and harmless from any and all costs and expenses of such litigation, including
attorneys fees. Any sums recovered in any such Proceeding or in its settlement
shall belong to Schering. The Parties acknowledge that Schering shall have full
control over the prosecution and any possible settlement of such Proceeding that
Schering initiates. Molecular Insight shall have the right to be represented by
counsel of its own selection and at its own expense in any such Proceeding
instituted by Schering.

     8.4 Defense of Infringement Claims. Molecular Insight shall have full
responsibility for any third party infringement claims against it for
Commercialization of Products, including defending against or settling such
claims, all at its own expense. Schering shall have no liability for any third
party infringement claim raised against Molecular Insight.

     8.5 New Schering patent application(s). For the avoidance of doubt, the
Parties acknowledge that Schering                  **
inter alia in relation to the Eye Technology as described in Section 2.2.

9. INDEMNIFICATION

     9.1 Schering. Schering shall indemnify, defend and hold harmless Molecular
Insight and its directors, officers, employees and agents (each a "Molecular
Insight Indemnitee") from and against any and all liabilities, damages, losses,
costs or expenses (including attorneys' and professional fees and other expenses
of litigation and/or arbitration) (a "Liability") resulting from a claim, suit
or proceeding made or brought by a Third Party against a Molecular Insight
Indemnitee arising from or occurring as a result of any breach of
representations and warranties set forth by Schering. Section 7.4 shall apply
mutatis mutandis.

     9.2 Molecular Insight. Molecular Insight shall indemnify, defend and hold
harmless Schering and its directors, officers, employees and agents (each a
"Schering Indemnitee") from and against any and all liabilities, damages,
losses, costs or expenses (including attorneys' and professional fees and. other
expenses of litigation and/or arbitration) (a "Liability") resulting from a
claim, suit or proceeding made or brought by a Third Party against a Schering
Indemnitee, arising from or occurring as a result of (i) any breach of
representations and warranties; (ii) the practice by Molecular Insight of any
right granted herein, or (iii) any development, testing,

                                       16

                       *Confidential Treatment Requested*
<PAGE>

manufacture, importation, use, offer for sale, sale or other distribution of any
Product by Molecular Insight or its Affiliates and Sublicensee (including,
without limitation, product liability claims).

     9.3 Procedure. In the event that any Indemnitee intends to claim
indemnification under this Section 10 it shall notify the other Party (the
"Indemnitor") without undue delay in writing of such alleged Liability. The
Indemnitor shall have the sole right to control the defense and settlement
thereof. The Indemnitee shall cooperate with the Indemnitor and its legal
representatives in the investigation of any action, claim or liability covered
by this Section 10 and do nothing which would adversely affect such defense or
settlement. The Indemnitee shall not, except at its own cost, voluntarily make
any payment or incur any expense with respect to any claim or suit without the
prior written consent of the Indemnitor, which the Indemnitor shall not be
required to give.

     9.4 Challenge. Schering may on thirty (30) days written notice terminate
this Agreement if Molecular Insight takes any action, serves any notice or
commences any proceedings seeking to revoke or challenge the validity of the
Schering Patent or if it procures or assists a Third Party to take such action.

     9.5 FOR THE AVOIDANCE OF DOUBT, SCHERING SHALL HAVE NO LIABILITY WHATSOEVER
TO MOLECULAR INSIGHT OR ANY OTHER PERSON FOR OR ON ACCOUNT OF ANY INJURY; LOSS;
OR DAMAGE; OF ANY KIND OR NATRUE; SUSTAINED BY; OR ANY DAMAGE ASSESSED OR
ASSERTED AGAINST; OR ANY OTHER LIABILITY INCURRED BY OR IMPOSED ON MOLECULAR
INSIGHT OR ANY OTHER PERSON; ARISING OUT OF OR IN CONNECTIONWITH OR RESULTING
FROM (A) THE PRODUCTION; USE OR SALE OF ANY PRODUCT; OR THE PRACTICE OF THE
SCHERING PATENTS; OR (B) THE USE OF ANY SCHERING KNOW HOW; AND MOLECULAR INSIGHT
SHALL HOLD SCHERING; OR ITS OFFICERS; EMPLOYEES; OR AGENTS; HARMLESS IN THE
EVENT SCHERING; OR ITS OFFICERS; EMPLOYEES; OR AGENTS IS HELD LIABLE.

     9.6 Survival. This Section 10 will survive expiry or termination of this
Agreement for any reason.

10. TERM AND TERMINATION

     10.1 Term. The term of this Agreement shall commence on the Effective Date
and unless earlier terminated as provided in this Section 11, this Agreement
shall continue in full force and effect on a country-by-country and
Product-by-Product basis until there are no remaining royalty payment
obligations in a country, at which time the Agreement shall expire in its
entirety in such country.

     10.2 Termination for Cause. Failure of Molecular Insight or Schering to
comply with any of the respective material obligations and conditions contained
in this Agreement shall entitle the other Party to give the Party in default
notice requiring it to cure such default. If such default is not cured within
ninety (90) days after receipt of such notice, the notifying Party shall be
entitled (without prejudice to any of its other rights conferred on it by the
Agreement) to terminate this Agreement by giving a notice to take effect
immediately. Notwithstanding the foregoing, in the event of a non-monetary
default, if the default is not reasonably capable of being cured within the
ninety (90) day cure period by the defaulting Party and such defaulting Party is
making a good faith effort to cure such default, the notifying Party may not
terminate this Agreement, provided

                                       17

<PAGE>

however, that the notifying Party may terminate this Agreement if such default
is not cured within one hundred and eighty (180) days of such original notice of
default. The right of either Party to terminate this Agreement as herein above
provided shall not be affected in any way by its waiver of, or failure to take
action with respect to, any previous default.

     10.3 Termination for Insolvency. If voluntary or involuntary proceedings by
or against a Party are instituted in bankruptcy under any insolvency law
(including Chapter 11), or a receiver or custodian is appointed for such Party,
or proceedings are instituted by or against such Party for corporate
reorganization or the dissolution of such Party, which proceedings, if
involuntary, shall not have been dismissed within sixty (60) days after the date
of filing, or if such Party makes an assignment for the benefit of creditors, or
substantially all of the assets of such Party are seized or attached and not
released within sixty (60) days thereafter, the other Party, may immediately
terminate this Agreement effective upon notice of such termination.

     10.4 Effect of Termination and Expiration.

          10.4.1 Accrued Rights and Obligations. Termination of this Agreement
for any reason shall not release any Party hereto from any liability which, at
the time of such termination, has already accrued to the other Party or which is
attributable to a period prior to such termination nor preclude either Party
from pursuing any rights and remedies it may have hereunder or at law or in
equity with respect to any breach of this Agreement.

          10.4.2 Return of Schering Know-How. Upon any termination of this
Agreement, Molecular Insight shall promptly return to Schering all Schering
Intellectual Property in tangible form; provided Molecular Insight may retain
one (1) copy of such tangible Schering Intellectual Property for archival
purposes and for ensuring compliance with Section 6.

          10.4.3 Stock on Hand. In the event this Agreement is terminated for
any reason, Molecular Insight shall have the right to sell or otherwise dispose
of the stock of any Product subject to this Agreement then on hand until the
first anniversary of the effective date of such termination. Sales made pursuant
to this clause shall be treated as Net Sales and royalty thereon shall be paid
to Schering.

     10.5 Survival. Sections 11.4.1 and 11.4.2 as well as Sections 5 and 9 of
this Agreement shall survive expiration or termination of this Agreement for any
reason.

11. MISCELLANEOUS

     11.1 Governing Law. This Agreement and any dispute, arising from the
performance or breach hereof shall be governed by and construed in accordance
with the laws of the state of New York. Place of proceedings shall be New York,
NY.

     11.2 Independent Contractors. The relationship of the Parties hereto is
that of independent contractors. The Parties hereto are not deemed to be agents,
partners or joint ventures of the others for any purpose as a result of this
Agreement or the transactions contemplated thereby.

     11.3 Assignment. This Agreement shall not be assignable by Molecular
Insight to any Third Party, in whole or in part, without the written consent of
Schering which consent shall not be unreasonably withheld; provided, however,
Molecular Insight may assign this Agreement without said consent if it sells all
or most of its business. Schering may assign this Agreement

                                       18

<PAGE>

with prior notice to Molecular Insight. This Agreement shall be binding upon and
inure to the benefit of the Parties and their successors and assigns.

     11.4 Notices. All notices, requests and other communications hereunder
shall be in writing and shall be personally delivered, sent by courier or by
facsimile transmission or by registered or certified mail, return receipt
requested, postage prepaid, in each case to the respective address specified
below, or such other address as may be specified in writing to the other Party
hereto:

If to Schering:                            If to Molecular Insight:

Bayer Schering Pharma Aktiengesellschaft   Molecular Insight Pharmaceuticals,
13342 Berlin                               Inc.
Germany                                    160 Second Street
Attn. Dr. Wolfgang Frohlich                Cambridge, MA 02142
Fax: +49-30-468-12853                      USA
                                           Attn. VP, Commercial & Business
With a copy to:                            Development
                                           Fax: 617-492-5664
Bayer Schering Pharma Aktiengesellschaft
13342 Berlin                               With a copy to:
Germany
Attn. Legal Department                     Joshua A. Kalkstein, Esp.
Fax: +49-30-468-14089                      Robinson & Cole, LLP
                                           One Boston Place
                                           Boston, MA 02108
                                           USA

     11.5 Force Majeure. Neither Party shall lose any rights hereunder or be
liable to the other Party for damages or losses (except for payment obligations)
on account of failure of performance by the defaulting Party if the failure is
occasioned by war, fire, act of God, earthquake, flood, embargo, or any other
reason where failure to perform is beyond the reasonable control and not caused
by the negligence, intentional conduct or misconduct if the non-performing Party
has exerted all reasonable efforts to avoid or remedy such force majeure. If the
force majeure continues for a period of more than 12 months, the Party not
relying on force majeure shall be entitled to terminate this Agreement forthwith
by written notice to the other.

     11.6 Compliance with Laws. Each Party shall furnish to the other Party any
information requested by that Party during the term of this Agreement or any
extensions hereof to enable that Party at its expense to comply with the
requirements of any government agency.

     11.7 Severability. In the event that any provisions of this Agreement are
determined to be invalid or unenforceable by a court of competent jurisdiction,
the remainder of the Agreement shall remain in full force and effect without
said provision. In such event the Parties shall, in good faith, negotiate a
substitute clause for any provision declared invalid or unenforceable, which
shall most nearly approximate the intent of the Parties entering this Agreement.

     11.8 Waiver. It is agreed that no waiver by either Party hereto of any
breach of default of any of the covenants or agreements herein set forth shall
be deemed a waiver as to any

                                       19

<PAGE>

subsequent and/or similar breach or default.

     11.9 Complete Agreement. This Agreement, with its Schedules, constitutes
the entire agreement between the Parties with respect to the subject matter
hereof, and that all prior agreements respecting the subject matter hereof,
either written or oral, expressed or implied, are merged and canceled, and are
null and void and of no effect. No amendment or change hereof or addition hereto
shall be effective or binding on either of the Parties hereto unless reduced to
writing and duly executed on behalf of both Parties.

     11.10 Use of Name. Neither Party shall use the name or trademarks of the
other Party, without the prior written consent of such other Party except in
connection with the disclosure of the existence of this Agreement, in which case
Schering shall be referred to as "Schering AG, Berlin" or as otherwise
instructed by Schering.

     11.11 Headings. The captions to the several Sections and Articles hereof
are not a part of this Agreement, but are included merely for convenience of
reference only and shall not affect its meaning or interpretation.

     11.12 Counterparts. This Agreement may be executed in two counterparts,
each of which shall be deemed an original and which together shall constitute
one instrument.

     11.13 Third Party Beneficiaries. No person, other than Schering, Molecular
Insight, their Affiliates and their assignees hereunder, shall be deemed an
intended beneficiary hereunder or have any right to enforce any obligation of
this Agreement.

     IN WITNESS WHEREOF Schering and Molecular Insight have executed this
Agreement by their respective duly authorized representatives.

BAYER SCHERING PHARMA                   MOLECULAR INSIGHT
AKTIENGESELLSCHAFT                      PHARMACEUTICALS, INC.

By:  /s/ Mattias Braentigan             By:  /s/ David S. Barlow
    ---------------------------------       ------------------------------------
Print Name:  Mattias Braentigan         Print Name:  David S. Barlow
            -------------------------               ----------------------------
Title:  Head of TRGDG                   Title: Chairman and CEO
       ------------------------------          ---------------------------------

By:  /s/ Wolfgang Froehlich
    ---------------------------------
Print Name: Wolfgang Froehlich, Ph.D.
            -------------------------
Title: Senior Manager, Out Partnering
       ------------------------------

                                       20

<PAGE>

                                   ANNEX 1.39

                                SCHERING KNOW-HOW

Schering Know-how consists of all data disclosed in the due diligence folders
provided at the meeting on June 1, 2006 with the exception of know-how in
relation to the administration of the Compounds and the use of blood-supply
modulators to reduce eye uptake in order to minimize potential side effects of
the Compounds. Included in Schering Know-how are the raw data from all
preclinical research studies, all issued and draft reports from all preclinical
studies, and all information Schering has in its possession about chemical
synthesis and formulation related to the Compounds.

                                Table of content

Folder content raw data and summary (chronologically per folder)

I

<TABLE>
<S> <C>
Compound                           Experiment                    Model
BA63                               Bio-d(i)                      C57BL6-B16/F1(ii)
IMBA (Eisenhurt et al.)            Bio-d                         C57BL6-B16/F1
BA40                               Bio-d                         Black nude SK-Mel-3(ii)
BA40                               Bio-d                         CB6F1(II)
BA40                               Bio-d                         C57BL6-B16/F1
BA60                               Bio-d                         C57BL6-B16/F1
BA61                               Bio-d                         C57BL6-B16/F1
BA44                               Bio-d                         C57BL6-B16/F1
BA45                               Bio-d                         C57BL6-B16/F1
BA45                               Bio-d                         CD-1 nu/nu(II)
BA44                               Bio-d                         CD-1 nu/nu
BA40                               Bio-d                         NMRI SK-Mel-1 & 3 & 28(ii)
-                                  Growth kinetics               CD-1 nu/nu SK-Mel 3 & 28
BA40                               RX(iii)                       C57BL6-B16/F1
-                                  Growth kinetics               C57BL6-B16/F1
-                                  Growth kinetics               NMRI SK-Mel-1 & 3 & 28
BA50                               Bio-d                         C57BL6-B16/F1
BA40                               Bio-d                         C57BL6-B16/F1

II

Compound                           Experiment                    Model
BA52                               Bio-d                         NMRI SK-Mel-3
BA40                               RX                            NMRI SK-Mel-3
BA52                               Bio-d                         C57BL6-B16/F1
BA52                               Eye uptake calculations       C57BL6-B16/F1
BA40                               Blocking of eye uptake        Mini pig
BA68                               Bio-d                         C57BL6-B16/F1
BA69                               Bio-d                         C57BL6-B16/F1
BA65                               Bio-d                         C57BL6-B16/F1
Dacarbazin                         MTD(iv) study                 NMRI SK-Mel-3
BA40                               Bio-d + imaging               C57BL6-B16/F1
BA66                               Bio-d                         C57BL6-B16/F1
BA40 + IMBA                        Bio-d + imaging               C57BL6-B16/F1
BA81                               Bio-d                         C57BL6-B16/F1
BA56                               Bio-d                         C57BL6-B16/F1

III

Compound                           Experiment                    Model
BA101                              Bio-d                         C57BL6-B16/F1
BA52                               Imaging                       C57BL6-B16/F1 + NMRI SK-Mel-3
BA100                              Bio-d                         C57BL6-B16/F1
BA95                               Bio-d                         C57BL6-B16/F1
BA93                               Bio-d                         C57BL6-B16/F1
BA91                               Bio-d                         C57BL6-B16/F1
BA52                               Eye tox                       C57BL6-B16/F1
BA52                               Bio-d                         NMRI SK-Mel-3
BA52                               RX                            NMRI SK-Mel-3
BA67                               Bio-d                         C57BL6-B16/F1
BA59                               Bio-d                         C57BL6-B16/F1
BA40                               Bio-d                         NMRI SK-Mel-3
BA40                               Bio-d; imaging; eye blocking  C57BL6-B16/F1
BA40                               Microautoradiography          C57BL6-B16/F1
BA80                               Bio-d                         C57BL6-B16/F1

IV

Compound                           Experiment                    Model
BA52                               Imaging                       Mini pig
BA52                               Imaging                       NMRI SK-Mel-3
BA52                               Bio-d                         CB6F1

V

Compound                           Experiment                    Model
BA52                               Microautoradiography          C57BL6-B16/F1
BA52                               Eye uptake                    Human vs. mini pig

VI

Compound                           Experiment                    Model
BA52                               Confidential summary          -
BA52                               Case reports                  Patients - VI
</TABLE>

                                       21
<PAGE>

                                   ANNEX 1.40

                                SCHERING PATENTS

<TABLE>
<CAPTION>
Country   Type      Filing        Filing Number     Publication   Process      Date           Nature       Expiration
-------   ----      ------        -------------     -----------   -------      ----           ------       ----------
<S>       <C>    <C>           <C>                  <C>           <C>       <C>          <C>               <C>
   AR     NP1    10/Mar/2005   P 050100925                          FLG     10/03/2005   P 050100925       10/03/2025
   BO     NP1    10/Mar/2005   SP-250047                            FLG     10/03/2005   SP-250047         10/03/2025
   CL     NP1    10/Mar/2005   0507-2005                            FLG     10/03/2005   0507-2005
   DE     NP1    10/Mar/2004   102004011720.9       29/Sep/2005     PUB     29/09/2005   DE                10/03/2024
                                                                                         102004011720A1
   GT     NP1    10/Mar/2005   PI-2005-0046                         FLG     10/09/2005   PI-2005-0046      10/03/2025
   MT     NP1    03/Mar/2005   2654                                 FLG     03/03/2005   2654              03/03/2025
   MY     NP1    08/Mar/2005   PI20050946                           FLG     08/03/2005   PI20050946
   PA     NP1    10/Mar/2005   86260-01                             FLG     10/03/2005   86260-01          10/03/2025
   PE     NP1    10/Mar/2005   000276-2005                          FLG     10/03/2005   000276-2005       10/03/2025
   SV     NP1    10/Mar/2005   E-3385-2005                          FLG     10/03/2005   E-3385-2005       10/03/2025
   TH     NP1    08/Mar/2005   098358                               FLG     08/03/2005   098358            08/03/2025
   TW     NP1    10/Mar/2005   094107360                            FLG     10/03/2005   094107360         10/03/2025
   US     NP1    10/Mar/2005   11/076023            22/Sep/2005     PUB     22/09/2005   US 2005-          10/03/2025
                                                                                         0207972A1
   US     PSP1   10/Mar/2004   60/551356                            FLG     10/03/2004   60/551356         10/03/2005
   UY     NP1    10/Mar/2005   28801                19/Aug/2005     FLG     10/03/2005   28801             10/03/2025
   VE     NP1    10/Mar/2005   2005-000421                          FLG     10/03/2005   2005-000421
   WO     PCT1   10/Mar/2005   PCT/EP2005/002 553   29/Sep/2005     PUB     29/09/2005   WO2005/089815A2
</TABLE>

                                       22

<PAGE>

                                    ANNEX 1.7

                            DESCRIPTION OF COMPOUNDS

Compounds are benzamides structurally identical to BA 43-BA 102 or derivatives
thereof as disclosed in the due diligence folders provided to Molecular Insight
on June 1, 2006.

                                       23

<PAGE>
                                   ANNEX 2.6

                GENERAL NUMBERING SCHEME FOR BENZAMIDE COMPOUNDS

<TABLE>
COMPOUND     PRECURSOR     AMOUNT     I-127 REF.    AMOUNT
 CODE       (ZK-NUMBER)     (MG)     (ZK-NUMBER)     (MG)
--------    -----------    ------    -----------    ------
<S>         <C>            <C>       <C>            <C>
BA40         Bromopride     25        304261         --
BA41             304257     --        307504         --
BA42             304258     --        307504         --
BA43             304259     --            --         --
BA44             253063     20        308747         10
BA45             253062      3        308748         --
BA50             253060     50        251428         50
BA52             316027     --        319402         20
BA53             319401     --        319400         --
BA56             253061     60        201854         --
BA59             264376      5        268968         10
BA60             253065     15        262591         15
BA61             253066     30        262594         18
BA62             253067     10        262583         10
BA63             802105     10        262597         --
BA65             253069     20        268969         15
BA66             266104     30        268970         20
BA67             267714     15        269270         5
BA68             268815      5        342087         10
BA69             268814     20        342088         15
BA70             268813     20        342089         17
BA71             268818     10        KQ 265         --
BA72             259754     30        KQ 266         --
BA73             268819     25        342101         10
BA80             253064     30                       --
BA81             253068     40        264450         --
BA90             279328      5        342100         --
BA91             325910     25        358344         20
BA92             325914     45        358345         34
BA93             325915     10        358346         28
BA94             325917     30       K.Q.276         10
BA95             325916     10        358358         14
BA96             325918     40        358350         20
BA97             325919     50       K.Q.278         20
BA98             343960     50        358367         30
BA99             343968     --       K.Q.291         --
BA100            343969     10        358368         20
BA101            343971     --        358369         20
BA102            343973     10        358370         25
</TABLE>

All precursors and non-radioactively iodinated compounds were characterized by
HPLC, (1)H-NMR-, MS, IR- and UV-spectroscopy. The radioiodinated benzamides
were characterized by HPLC comparison to the non-radioactive I-127 benzamide
standard.

                                      24

<PAGE>

                                    ANNEX 6.1

                            OUTLINE DEVELOPMENT PLAN

                       ANNEX 6.1 --ZK-BA DEVELOPMENT PLAN

                              [PERFORMANCE GRAPH]

                                       25exv4w1

 

Exhibit
4.1

EXECUTION COPY

     EIGHTEENTH SUPPLEMENTAL INDENTURE, dated as of January 16, 2007, to the Indenture dated
as of December 6, 1995 (as amended and supplemented to the date hereof, the “Indenture”), by and
among EOP Operating Limited Partnership (as successor to Spieker Properties, L.P.), a Delaware
limited partnership (the “Issuer”), Equity Office Properties Trust (as successor to Spieker
Properties, Inc.), a Maryland real estate investment trust (the “Company”), and U.S. Bank National
Association, as trustee (the “Trustee”).

W I T N E S S E T H:

     WHEREAS, the Issuer, the Company and the Trustee have heretofore executed and delivered the
Indenture, and the Issuer has issued pursuant to the Indenture, among other securities, the
following outstanding securities: 6.75% Notes due 2008 (the “6.75% Notes”), 7.125% Notes due 2009
(the “7.125% Notes”), 7.25% Notes due 2009 (the “7.25% Notes”), 7.65% Notes due 2010 (the “7.65%
Notes”), 7.35% Debentures due 2017 (the “7.35% Debentures”) and 7.50% Debentures due 2027 (the
“7.50% Debentures” and together with the 6.75% Notes, the 7.125% Notes, the 7.25% Notes, the 7.65%
Notes and the 7.35% Debentures, each “a series of Notes” and collectively the “Notes”);

     WHEREAS, Section 902 of the Indenture provides that the Issuer, the Company and the Trustee
may, with the consent of the Holders of not less than a majority in principal amount of any series
the outstanding Notes affected by such supplemental indenture, enter into a supplemental indenture
for the purpose of amending certain provisions of (i) the Indenture and (ii) such series of the
Notes;

     WHEREAS, in connection with the mergers, including the merger of the Company with Blackhawk
Acquisition Trust, a Maryland real estate investment trust, with Blackhawk Acquisition Trust
continuing as the surviving real estate investment trust (the “EOPT Merger”), contemplated by the
Agreement and Plan of Merger dated as of November 19, 2006, as amended to the date hereof, among
the Company, the Issuer, Blackhawk Parent LLC, a Delaware limited liability company, Blackhawk
Acquisition Trust and Blackhawk Acquisition, L.P., a Delaware limited partnership, the Issuer has
offered to purchase for cash any and all of the outstanding Notes upon the terms and subject to the
conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated as of
December 26, 2006 (as the same may be amended or supplemented from time to time, the “Statement”),
and in the related Consent and Letter of Transmittal, dated as of December 26, 2006 (as the same
may be amended or supplemented from time to time, the “Consent and Letter of Transmittal” and,
together with the Statement, with respect to the Notes, the “Offers”), from each Holder of the
Notes;

     WHEREAS, in connection with the Offers, the Issuer has sought consents from Holders to
certain amendments to the Indenture with respect to each series of Notes and to each series of the
Notes as set forth in Article Two and Article Three of this Eighteenth Supplemental Indenture (the
“Amendments”);

 

2

     WHEREAS, the Issuer has received consents from Holders of not less than a majority of the
outstanding principal amount of each series of the Notes to effect the Amendments;

     WHEREAS, the Issuer and the Company have been authorized by resolution to enter into this
Eighteenth Supplemental Indenture; and

     WHEREAS, all other acts and proceedings required by law and by the Indenture to make this
Eighteenth Supplemental Indenture a valid and binding agreement for the purposes expressed herein,
in accordance with its terms, have been duly done and performed;

     NOW, THEREFORE, in consideration of the premises and the covenants and agreements contained
herein, and for other good and valuable consideration the receipt of which is hereby acknowledged,
the Issuer, the Company and the Trustee hereby agree as follows:

ARTICLE ONE

     SECTION 1.01. Definitions.

     Capitalized terms used in this Eighteenth Supplemental Indenture and not otherwise defined
herein shall have the meanings assigned to such terms in the Indenture.

ARTICLE TWO

     SECTION 2.01. Amendment of Certain Provisions in Article One.

     Section 101 is amended by deleting from such Section those defined terms that, by virtue of
the Amendments effected by this Eighteenth Supplemental Indenture, are no longer used in the
Indenture or any series of Notes as amended hereby.

     SECTION 2.02. Amendment of Certain Provisions in Article Five.

     (a) Section 501 of the Indenture is amended by deleting the text of clauses (4) and (5) in
their entirety and inserting “[intentionally omitted]” in lieu thereof.

     (b) Section 501 of the Indenture is further amended by deleting the words “or any Significant
Subsidiary” in clauses (6) and (7).

     SECTION 2.03. Elimination of Certain Provisions in Article Seven.

     Section 703 of the Indenture is amended by deleting the text of this Section in its entirety
and inserting “[intentionally omitted]” in lieu thereof.

     SECTION 2.04. Amendment of Certain Provisions in Article Eight.

     (a) Section 801 of the Indenture is amended by deleting it in its entirety and replacing it
with the following:

 

3

“SECTION 801. CONSOLIDATION AND MERGER OF ISSUER AND SALE, LEASE AND
CONVEYANCE PERMITTED SUBJECT TO CERTAIN CONDITIONS. The Issuer may
consolidate with, or sell, lease or convey all or substantially all
of its assets to, or merge with or into any other Person, provided
that in any such case, either the Issuer shall be the continuing
Person, or the successor (if other than the Issuer) formed by or
resulting from any such consolidation or merger or which shall have
received the transfer of such assets shall expressly assume the due
and punctual payment of the principal of (and premium, if any) and
any interest (including all Additional Amounts, if any, payable
pursuant to Section 1009) on all of the Securities, according to
their tenor, and the due and punctual performance and observance of
all of the covenants and conditions of this Indenture to be performed
by the Issuer by supplemental indenture, complying with Article Nine
thereof, executed and delivered to the Trustee by such Person.

     For the purposes of this Section 801, the term “Person” includes an
entity in the form of a limited liability company.”

     (b) Section 802 of the Indenture is amended by deleting it in its entirety and replacing it
with the following:

“Section 802. RIGHTS AND DUTIES OF SUCCESSOR PERSON. In case of
any such consolidation, merger, sale, lease or conveyance and upon
any such assumption by the successor Person, such successor Person
shall succeed to and be substituted for the Issuer, with the same
effect as if it had been named herein as the party for the first
part, and the predecessor Person, except in the event of a lease,
shall be relieved from any further obligation under this Indenture
and the Securities. Such successor Person thereupon may be caused to
be signed, and may issue either in its own name or in the name of
the Issuer, any and all of the Securities issuable hereunder which
theretofore shall not have been signed by the Issuer and delivered
to the Trustee; and, upon the order of such successor Person,
instead of the Issuer, and subject to all the terms, conditions and
limitations in this Indenture prescribed, the Trustee shall
authenticate and shall deliver any Securities which previously shall
have been signed and delivered by the officers of the Issuer to the
Trustee for authentication, and any Securities which such successor
Person thereafter shall cause to be signed and delivered to the
Trustee for that purpose. All the Securities so issued shall in all
respects have the same legal rank and benefit under this Indenture
as the Securities theretofore and thereafter issued in

 

4

accordance with the terms of this Indenture as though all of such
Securities had been issued at the date of the execution hereof.

In case of any consolidation, merger, sale, lease or conveyance,
such changes in language and form (but not substance) may be made in
the Securities thereafter to be issued as may be appropriate.

For the purposes of this Section 802, the term “Person” includes an
entity in the form of a limited liability company.”

     SECTION 2.05. Elimination of Certain Provisions in Article Ten.

     (a) Section 1004 of the Indenture is amended by deleting the text of this Section in its
entirety and inserting “[intentionally omitted]” in lieu thereof.

     (b) Section 1006 of the Indenture is amended by deleting the text of this Section in its
entirety and inserting “[intentionally omitted]” in lieu thereof.

     (c) Section 1007 of the Indenture is amended by deleting the text of this Section in its
entirety and inserting “[intentionally omitted]” in lieu thereof.

     (d) Section 1008 of the Indenture is amended by deleting the text of this Section in its
entirety and inserting “[intentionally omitted]” in lieu thereof.

     SECTION 2.06. Amendment of Certain Provisions in Article Fourteen.

     (a) Section 1404 is amended by deleting the text of clause (a) in its entirety and replacing
it with the following:

     (a) The Issuer shall irrevocably have deposited or caused to be deposited with
the Trustee (or another trustee satisfying the requirements of Section 607 who shall
agree to comply with the provisions of this Article Fourteen applicable to it) as
trust funds in trust for the purpose of making the following payments, specifically
pledged as security for, and dedicated solely to, the benefit of the Holders of such
Securities and any coupons appertaining thereto, (1) an amount in such currency,
currencies or currency unit in which such Securities and any coupons appertaining
thereto are then specified as payable at Stated Maturity, or (2) Government
Obligations applicable to such Securities and coupons appertaining thereto
(determined on the basis of the currency, currencies or currency unit in which such
Securities and coupons appertaining thereto are then specified as payable at Stated
Maturity) which through the scheduled payment of principal and interest in respect
thereof in accordance with their terms will provide, not later than one day before
the due date of any payment of principal of (and premium or Make-Whole Amount, if
any) and interest, if any, on such Securities and any coupons appertaining thereto,
money in an amount, or (3) a

 

5

combination thereof, in any case, in an amount, sufficient, without consideration of
any reinvestment of such principal and interest, in the opinion of a nationally
recognized firm of independent public accountants expressed in a written
certification thereof delivered to the Trustee, to pay and discharge, and which
shall be applied by the Trustee (or other qualifying trustee) to pay and discharge,
(i) the principal of (and premium or Make-Whole Amount, if any) and interest, if
any, on such Outstanding Securities and any coupons appertaining thereto on the
Stated Maturity of such principal or installment of principal or interest and (ii)
any mandatory sinking fund payments or analogous payments applicable to such
Outstanding Securities and any coupons appertaining thereto on the day on which such
payments are due and payable in accordance with the terms of this Indenture and of
such Securities and any coupons appertaining thereto.

     (b) Section 1404 is amended by deleting the text of clauses (b), (c), (d) and (e) in their
entirety and inserting “[intentionally omitted]” in lieu of the text of each of these clauses.

	 	 	SECTION 2.07. Amendment of Certain Provisions in Article One of Supplemental
Indentures (for each Series of Notes other than the

	 	 	  7.50% Debentures).

     Section 101 of the Supplemental Indenture relating to each Series of Notes (other than the
7.50% Debentures) is amended by deleting the text of clause 14(B) in its entirety and inserting
"[intentionally omitted]” in lieu thereof.

     SECTION 2.08. Amendment of Certain Provisions in Article Two of the Supplemental
Indenture relating to the 7.50% Debentures. 

     Section 202 of the Ninth Supplemental Indenture dated as of September 29, 1997 is amended by
deleting the text of clause 14(B) in its entirety and inserting “[intentionally omitted]” in lieu
thereof.

ARTICLE THREE

     SECTION 3.01. Elimination of Certain Provisions in the Notes.

The Notes are deemed to be amended as follows:

     (a) Each Note other than the 7.50% Debentures is deemed amended by the insertion of the
following text on the reverse of the Note:

          “Notwithstanding anything to the contrary contained herein, the
terms of the Indenture and this [Note][Debenture] have been amended
and the following provisions of the Indenture, and the corresponding
provisions of this [Note][Debenture], are no longer applicable to
this Note: clauses (4) and (5) of Section 501; references to
“Significant Subsidiaries” in clauses (6) and (7) of

 

6

Section 501; Section 703; Section 1004; Section 1006; Section 1007;
Section 1008; clauses (b), (c), (d) and (e) of Section 1404 and
clause 14(B) of Section 101 of the Supplemental Indenture relating
to this [Note][Debenture]. . In addition, Section 801, Section 802
and Section 1404(a) of the Indenture have been amended.”

     (b) Each 7.50% Debenture is deemed amended by the insertion of the following text on the
reverse of the Debenture:

          “Notwithstanding anything to the contrary contained herein, the
terms of the Indenture and this Debenture have been amended and the
following provisions of the Indenture, and the corresponding
provisions of this Debenture, are no longer applicable to this
Debenture: clauses (4) and (5) of Section 501; references to
“Significant Subsidiaries” in clauses (6) and (7) of Section 501;
Section 703; Section 1004; Section 1006; Section 1007; Section 1008;
clauses (b), (c), (d) and (e) of Section 1404 and clause 14(B) of
Section 202 of the Supplemental Indenture relating to this
Debenture. In addition, Section 801, Section 802 and Section
1404(a) of the Indenture have been amended.”

ARTICLE FOUR

	 	 	SECTION 4.01. Effectiveness of Eighteenth Supplemental Indenture; Operation of Amendments to
Indenture and the Notes.

     This Eighteenth Supplemental Indenture shall be effective upon its execution by the parties
hereto. The Amendments set forth in Articles Two and Three hereof will only become operative with
respect to a series of Notes concurrently with the consummation of the EOPT Merger, provided that
all validly tendered Notes of such series are accepted for purchase pursuant to the applicable
Offer upon consummation of the EOPT Merger.

     SECTION 4.02. Severability.

     In case any provision in this Eighteenth Supplemental Indenture or the Notes shall be invalid,
illegal or unenforceable, the validity, legality and enforceability of the remaining provisions
shall not in any way be affected or impaired thereby.

     SECTION 4.03. Continuing Effect of Indenture.

     Except as expressly provided herein, all of the terms, provisions and conditions of the
Indenture and the Notes shall remain in full force and effect.

 

7

     SECTION 4.04. Construction of Eighteenth Supplemental Indenture.

     This Eighteenth Supplemental Indenture is executed as and shall constitute an indenture
supplemental to the Indenture and shall be construed in connection with and as part of the
Indenture. THIS EIGHTEENTH SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

     SECTION 4.05. Trust Indenture Act Controls.

     If any provision of this Eighteenth Supplemental Indenture limits, qualifies or conflicts with
another provision of this Eighteenth Supplemental Indenture or the Indenture that is required to be
included by the Trust Indenture Act of 1939, as amended, and as in force at the date as of which
this Eighteenth Supplemental Indenture is executed, the provision required by said Act shall
control.

     SECTION 4.06. Disclaimer.

     The recitals contained in this Eighteenth Supplemental Indenture shall be taken as the
statements of the Issuer and the Company. The Trustee assumes no responsibility for their
correctness. The Trustee makes no representations as to the validity or sufficiency of this
Eighteenth Supplemental Indenture.

     SECTION 4.07. Counterparts.

     This Eighteenth Supplemental Indenture may be executed in any number of counterparts, each of
which so executed shall be deemed to be an original, but all such counterparts shall together
constitute but one and the same instrument.

 

8

     IN WITNESS WHEREOF, the parties hereto have caused this Eighteenth Supplemental Indenture to
be duly executed, all as of the day and year first above written.

	 	 	 	 	 
	 	EOP OPERATING LIMITED PARTNERSHIP

 	 
	 	By:  	Equity Office Properties Trust, as General Partner
 	 
	 	 	 	 
	 
	 	 	 
	 	By  	/s/ Stanley M. Stevens
 	 
	 	 	Name:  	Stanley M. Stevens 	 
	 	 	Title:  	Executive Vice President, Chief Legal Counsel and Secretary 	 
	 
	 
	 	EQUITY OFFICE PROPERTIES TRUST

 	 
	 
	 	 	 
	 	By  	/s/ Stanley M. Stevens
 	 
	 	 	Name:  	Stanley M. Stevens 	 
	 	 	Title:  	Executive Vice President, Chief Legal Counsel and Secretary 	 
	 
	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as Trustee

 	 
	 
	 	 	 
	 	By  	/s/ Richard Prokosch
 	 
	 	 	Name:  	Richard Prokosch 	 
	 	 	Title:  	Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}]]