Document:

Form of Performance Share Agreement

 Exhibit 10.1 
 FORM OF AGREEMENT AS OF 3/1/06 
 CITADEL BROADCASTING CORPORATION 
 FORM OF PERFORMANCE SHARE
AGREEMENT 
 for use under the 
 Amended and Restated 2002 Stock Option and Award Plan 
 Reference
Number: 001-A 
 THIS AGREEMENT, dated as of [DATE OF GRANT] (“Date of Grant”), is entered into
between Citadel Broadcasting Corporation, a Delaware corporation (together with any successor thereto by merger, consolidation, acquisition of substantially all the assets thereof or otherwise, the “Company”), and
[EMPLOYEE’S FULL NAME] (“Employee”). 
 WHEREAS, the Compensation Committee of the Board of Directors of the
Company (the “Committee”) has determined that Employee shall be granted shares of the Company’s common stock, par value $0.01 per share (together with any securities of the Company which may be issued with respect to the shares
by virtue of any stock split, combination, stock dividend, recapitalization or exchange of stock, the “Common Stock”), subject to the restrictions stated below and in accordance with the terms and conditions of the Citadel
Broadcasting Corporation Amended and Restated 2002 Stock Option and Award Plan (also referred to from time to time by the Company as the Amended and Restated 2002 Long Term Incentive Plan) (as amended from time to time, the “Plan”),
a copy of which can be obtained by written or telephonic request to the Secretary of the Company. Capitalized terms not otherwise defined herein have the meaning set forth in the Plan. 
 NOW THEREFORE, the parties hereto hereby agree as follows: 
 1. Grant and Issuance of Stock. 
 Subject to the terms and conditions of this Agreement and of the Plan, the Company hereby
grants to Employee (the “Award”) [NUMBER] performance-vesting shares of Common Stock (to be “Performance Shares” hereunder), subject to all of the restrictions hereinafter set forth. The Performance Shares
shall be issued in the name of Employee as soon as reasonably practicable after the Date of Grant; provided that Employee has executed and delivered to the Company this Agreement evidencing the Award, the appropriate blank stock powers (a
form of which is attached hereto as Exhibit A) and, in the discretion of the Committee, an escrow agreement and any other documents which the Committee may require as a condition to the issuance of the Performance Shares. 
 2. Vesting Requirements; Schedule. 
 This Award is subdivided into [NUMBER] tranches, “Tranche A” and “Tranche B” [modify as appropriate] each of which constitutes [FRACTION] of the Award ([NUMBER]
Performance Shares). 

 (a) Tranche A. (i) Subject to the terms and conditions set forth in this Section 2, and
subject to the accelerated vesting provisions of Section 7 hereof and the forfeiture provisions of Section 8 hereof, (A) provided that the Committee certifies in writing that the Tranche A Performance Objective (as such term is
defined below) has been achieved as of [DATE AT END OF PERFORMANCE PERIOD], and (B) provided that Employee satisfies the continuous employment requirement of Section 2(c), Tranche A of this Award will vest on the [VESTING
DATE] (the “Tranche A Vesting Date”).1 
 (ii) The “Tranche A Performance Objective” shall mean that for the [LENGTH OF PERFORMANCE PERIOD] commencing [DATE AT
BEGINNING OF PERFORMANCE PERIOD], [INSERT PERFORMANCE OBJECTIVE]. 
 (b) Tranche B. (i) Subject to the terms and
conditions set forth in this Section 2, and subject to the accelerated vesting provisions of Section 7 hereof and the forfeiture provisions of Section 8 hereof, (A) provided that the Committee certifies in writing that the
Tranche B Performance Objective (as such term is defined below) has been achieved as of [DATE AT END OF PERFORMANCE PERIOD], and (B) provided that Employee satisfies the continuous employment requirement of Section 2(c), Tranche B
of this Award will vest on the [VESTING DATE] date of the Date of Grant (the “Tranche B Vesting Date”).  
 (ii) The “Tranche B Performance Objective” shall mean that for the [LENGTH OF PERFORMANCE PERIOD] commencing [DATE AT BEGINNING OF PERFORMANCE PERIOD], [INSERT PERFORMANCE OBJECTIVE].  
 (c) Continuous Employment Requirement. The right of Employee to receive payment of this Award shall become vested as provided in Section 2(a)
or 2(b) hereof, as applicable, only if Employee remains continuously employed by the Company or one of its subsidiaries from the Date of Grant until (i) the Tranche A Vesting Date, in the case of Tranche A, or (ii) the Tranche B Vesting
Date, in the case of Tranche B (including Tranche A, if reclassified as an additional portion of Tranche B). [modify as appropriate] 
 (d) On the applicable vesting date, all of the Performance Shares for which the applicable requirements of this Section 2 have been satisfied shall become fully vested to the extent that the Performance Shares have not previously been
forfeited, and the Restrictions (as defined below) shall lapse and have no further force or effect with respect thereto. 
 3. Restrictions.

 (a) With respect to each share of the Performance Shares, the period of time between the Date of Grant and the date on which such
Performance Share becomes fully vested in accordance with Section 2 hereof is referred to herein as the “Restriction Period.” 

	1	Performance Share Agreements for executive officers, may, at the sole discretion of the Committee, provide that in the event the performance objective is not
satisfied during the performance period for Tranche A, such tranche shall be treated as if it were an additional portion of Tranche B, and so reclassified, then shall be subject to vesting under the terms and conditions that govern the vesting of
Tranche B (and provide a similar rollover if there are more than two tranches of the Award). 

  

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 (b) No Performance Share and/or rights or privileges granted hereunder may be sold, transferred (whether
by operation of law or otherwise) or otherwise disposed of, be pledged or otherwise hypothecated or be subject to execution, attachment or similar process until such Performance Share becomes vested in accordance with Section 2 hereof
(collectively, the “Restrictions”). Upon any attempt to effect any such disposition, or upon the levy of any such process, such disposition or levy shall immediately become null and void. 
 4. Legend. 
 All
certificates representing any Performance Shares that are subject to the provisions of this Agreement shall have endorsed thereon (i) any appropriate legends that may be, in the judgment of the Company, necessary or desirable in order to
achieve compliance with the United States Securities Act of 1933, as amended, or the securities laws of any state or any other law and (ii) the following legend: 
 “The shares represented by this certificate are subject to certain restrictions pursuant to an agreement between Citadel Broadcasting Corporation and the registered holder, a copy of which is on file at the
principal office of Citadel Broadcasting Corporation.” 
 5. Escrow. 
 (a) The certificate or certificates evidencing the Performance Shares subject hereto shall be delivered to and deposited with the Secretary of the Company
as Escrow Agent in this transaction or his or her designee. The Performance Shares may also be held in a restricted book entry account in the name of Employee. Such certificates or such book entry shares are to be held by the Escrow Agent until
termination of the Restriction Period with respect to the Performance Shares to which such certificates relate, at which time they shall be released to Employee by the Escrow Agent; provided, however, that a portion of such Performance
Shares shall be surrendered in payment of required withholding taxes in accordance with Section 9 hereof, unless alternative procedures for the payment of required withholding taxes are established by the Company. 
 (b) Upon the termination of the Restriction Period and subject to the satisfaction of all terms and conditions contained herein and in the Plan, the
Committee shall cause the Escrow Agent to, and the Escrow Agent shall, deliver a stock certificate in respect of the vested Performance Shares to Employee, free and clear of all Restrictions hereunder. 
 6. Employee’s Stockholder Rights. 
 During the Restriction Period, Employee shall have all of the rights of a holder of Common Stock with respect to the Performance Shares except for the right to transfer the Performance Shares, as set forth in
Section 3 hereof. In particular, Employee shall have the right to vote the Performance Shares at any meeting of the stockholders of the Company at which a holder of Common Stock is entitled to vote and to receive any dividends or other
distributions paid on the Common Stock as if the Performance Shares were fully vested shares of Common Stock, less applicable withholding taxes (it being understood that cash dividends generally will be taxable as ordinary compensation income during
the Restriction Period, unless Employee 
  

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 makes an election under Section 83(b) of the Code as provided in Section 9(e) of this Agreement). It is the
Committee’s intention that, for purposes of Section 409A of the Code, neither (i) the grant of the Performance Shares nor (ii) the right to receive dividends with respect to the Performance Shares during the Restriction Period
shall be treated as deferred compensation and that any ambiguities in construction be interpreted to effectuate such intent. During the Restriction Period, any payment of dividends to Employee on or with respect to the Performance Shares shall be
made at the same time as such dividend is paid to holders of Common Stock; provided, however, that, in any event, such payment to Employee shall be made no later than the fifteenth day of the third month following the end of the
taxable year in which the dividend is declared. In the event the Award, or any portion of it, is forfeited in accordance with the terms of this Agreement, any dividends or distributions to which Employee became entitled on or prior to the date of
forfeiture of the Award, whether or not previously paid, will remain the property of Employee and are not subject to forfeiture. 
 7. Lapse of Restrictions.2 
 (a) Notwithstanding the terms and conditions of Section 2 hereof, upon termination of Employee’s employment with the Company or any of its
subsidiaries by reason of Employee’s death, disability or adjudicated incompetency, this Award and any Performance Shares represented thereby shall become fully vested to the extent that it has not previously been forfeited, and the Restriction
shall lapse and have no further force or effect. For purposes of this Agreement, the term “disability” shall mean Employee’s Disability as defined in Section 2.12 of the Plan. Once Employee has been disabled as defined in this
Section for a period of at least 180 consecutive days, the disability shall be deemed to have occurred on the first day of such 180-day period. In the event of Employee’s death prior to the delivery to Employee of the vested Performance Shares,
said vested Performance Shares shall be delivered to Employee’s estate or designated beneficiary. 
 8. Forfeiture
of Shares. 
 (a) Non-Satisfaction of Vesting Requirements. If the vesting requirements applicable to any portion of the Award are
not satisfied as described in Sections 2(a)-(c) hereof [modify as appropriate] (other than if Employee’s employment is terminated as described in Section 7 hereof), then that portion of the Award and any Performance Shares
represented thereby shall be forfeited by Employee and Employee’s rights with respect thereto shall cease without consideration to Employee or Employee’s executor, administrator, personal representative or heirs
(“Representative”). In any such event, Employee or Employee’s Representative shall promptly deliver any documents requested by the Company necessary to effect the forfeiture. 

	2	Performance Share Agreements for executive officers also include provisions relating to accelerated vesting upon termination of employment by the Company for any
reason other than for “Cause” (generally as defined in the Plan) and by Employee for “Good Reason” (generally defined to include any material diminution in salary or responsibilities or place of employment relocation).

  

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 (b) Termination of Employment. Other than if Employee’s employment is terminated as described
in Section 7 hereof, if Employee’s employment with the Company is terminated at any time for any reason (including but not limited to Employee’s voluntary resignation), prior to the vesting date for any portion of the Award granted
hereunder, such unvested portion of the Award (i.e., Tranche A and/or Tranche B) [modify as appropriate] and any Performance Shares represented thereby shall be forfeited by Employee and Employee’s rights with respect thereto shall cease
without consideration to Employee or Employee’s Representative. In any such event, Employee or Employee’s Representative shall promptly deliver any documents requested by the Company necessary to effect the forfeiture. 
 9. Taxes. 
 (a) The
grant of the Performance Shares and the lapse of the Restriction on the Performance Shares pursuant to Section 2 or Section 7 hereof shall be conditioned on Employee or the Representative having made appropriate arrangements with the
Company to provide for the withholding of any taxes (including, for all purposes of this Section 9, FICA and other payroll taxes and social insurance contributions) required to be withheld by federal, state or local law with respect to such
grant or lapse. 
 (b) Employee shall be liable for any and all taxes, including withholding taxes, arising out of this grant or the vesting
of Performance Shares hereunder. Employee shall surrender (or the Company may withhold from delivery to Employee) a sufficient number of whole shares of Performance Shares as may be necessary to cover all applicable withholding taxes at the time of
grant or the time that the restrictions on the Performance Shares lapse, unless alternative procedures for such payment are established by the Company. To the extent that any surrender of Performance Shares or alternative procedure for such payment
is insufficient, Employee authorizes the Company, its affiliates and subsidiaries, to deduct all applicable withholding taxes from Employee’s compensation. Employee agrees to pay to the Company any amount of withholding taxes that cannot be
satisfied from wages or other cash compensation and that are not otherwise provided for hereunder. 
 (c) Regardless of any action that the
Company takes with respect to any item of income tax, social insurance contribution, payroll tax, payment or other tax-related item (“Tax-Related Items”), Employee acknowledges and agrees that the ultimate liability for all
Tax-Related Items legally due by Employee is and remains Employee’s responsibility, and that the Company (i) makes no representation or undertaking regarding the treatment of any Tax-Related Item in connection with any aspect of this grant
of Performance Shares, including the grant, vesting or release of Performance Shares, the subsequent sale of unrestricted shares of Common Stock and the receipt of any dividends and (ii) does not commit to structure the terms or any aspect of
this grant of Performance Shares to reduce or eliminate Employee’s liability for Tax-Related Items. Employee shall pay the Company any amount of Tax-Related Items that the Company or its subsidiaries may be required to withhold as a result of
Employee’s participation in the Plan or Employee’s receipt of Performance Shares that cannot be satisfied by the means previously described. The Company may refuse to deliver the Performance Shares if Employee fails to comply with
Employee’s obligations in connection with Tax-Related Items. 
  

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 (d) It is the Committee’s intent that the Performance Shares shall not be treated as a payment of
deferred compensation for purposes of Section 409A of the Internal Revenue Code, as amended from time to time, and that any ambiguities in construction be interpreted to effectuate such intent. 
 (e) Section 83(a) of the Code provides that on the vesting date of the Performance Shares, Employee must include in Employee’s taxable income
as compensation an amount equal to the Fair Market Value (determined as of the vesting date of such Performance Shares) of the Performance Shares over the amount (if any) paid for such Performance Shares. If Employee chooses, Employee may make an
election under Section 83(b) of the Code, which would cause Employee to recognize compensation income for Employee’s taxable year in which the Performance Shares are granted, in the amount of the excess (if any) of the Fair Market Value of
the Performance Shares acquired (determined as of the date of grant of the Performance Shares) over the amount (if any) paid for such Performance Shares. A Section 83(b) election must be filed with the Internal Revenue Service within thirty
(30) days after the Date of Grant. Employee shall provide prompt notice to the Company of Employee’s decision to make a Section 83(b) election. The form for making a Section 83(b) election is attached as Exhibit B. Employee
acknowledges that it is Employee’s sole responsibility (i) to determine whether making an election under Section 83(b) of the Code is appropriate in Employee’s particular circumstances, and (ii) if Employee so chooses, to
file timely the Section 83(b) election, and further acknowledges that failure to file a Section 83(b) election within the applicable thirty (30) day period may result in the recognition of ordinary compensation income when the
Restriction Period lapses. Employee also acknowledges that it is Employee’s responsibility to consult with Employee’s personal tax and/or legal advisors, and the Company shall not have any responsibility or liability with respect to any
decision made by Employee, with respect to an election or decision not to make an election under Section 83(b). 
 10.
Data Privacy Consent. 
 Employee hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or
other form, of Employee’s personal data as described in this document, by and among, as applicable, the Company and its subsidiaries and affiliates for the exclusive purpose of implementing, administering and managing Employee’s
participation in the Plan. Employee understands that the Company, its affiliates and its subsidiaries hold certain personal information about Employee, including, but not limited to, Employee’s name, home address and telephone number, date of
birth, social security number or other identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all options or any other entitlement to shares of stock awarded, canceled, purchased,
exercised, vested, unvested or outstanding in Employee’s favor for the purpose of implementing, managing and administering the Plan (the “Data”). Employee understands that the Data may be transferred to any third parties
assisting in the implementation, administration and management of the Plan, that these recipients may be located in Employee’s country or elsewhere and that the recipient country may have different data privacy laws and protections than
Employee’s country. Employee understands that Employee may request a list of the names and addresses of any potential recipients of the Data by contacting the Company’s director of human resources. Employee authorizes the recipients to
receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purposes of implementing, administering and managing 
  

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 Employee’s participation in the Plan, including any requisite transfer of such Data, as may be required to a broker
or other third party with whom Employee may elect to deposit any shares of Common Stock acquired under the Plan. Employee understands that Data will be held only as long as is necessary to implement, administer and manage participation in the Plan.
Employee understands that Employee may, at any time, view Data, request additional information about the storage and processing of the Data, require any necessary amendments to the Data or refuse or withdraw the consents herein, in any case without
cost, by contacting the Company’s director of human resources in writing. Employee understands that refusing or withdrawing consent may affect Employee’s ability to participate in the Plan. For more information on the consequences of
refusing to consent or withdrawing consent, Employee understands that Employee may contact the Company’s director of human resources. 
 11. Plan Information. 
 Employee acknowledges that Employee has received a copy of the Plan, the Plan
prospectus and other Plan information, and acknowledges that additional copies of and any updates to the Plan, Plan prospectus, Plan information and stockholder information are available upon written or telephonic request to the Secretary of the
Company. 
 12. Acknowledgment and Waiver. 
 By accepting this grant of Performance Shares, Employee acknowledges and agrees that (i) each of the Plan and this Agreement is established
voluntarily by the Company, is discretionary in nature and may be modified, amended, suspended or terminated by the Company at any time in accordance with the terms of the Plan, including Section 15 thereof; (ii) the grant of Performance
Shares is voluntary and occasional and does not create any contractual or other right to receive future grants of performance shares, or benefits in lieu of performance shares, even if performance shares have been granted repeatedly in the past;
(iii) all decisions with respect to future grants, if any, will be at the sole discretion of the Committee; (iv) Employee’s participation in the Plan shall not create a right to further employment with the Company and shall not
interfere with the ability of the Company to terminate Employee’s employment relationship at any time with or without Cause, and it is expressly agreed and understood that employment is terminable at the will of either party, insofar as
permitted by law; (v) Employee is participating voluntarily in the Plan; (vi) stock and stock grants (including performance share grants) are an extraordinary item that is outside the scope of Employee’s employment contract, if any
[, unless specifically provided for therein]; (vii) stock and stock grants (including performance share grants) are not part of normal or expected compensation or salary for any purpose, including, but not limited to, calculating any
severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or retirement benefits or similar payments, insofar as permitted by law; (viii) in the event that Employee is not an employee of the
Company, this grant of Performance Shares will not be interpreted to form an employment contract or relationship with the Company or any subsidiary or affiliate of the Company; (ix) the future value of the underlying Common Stock is unknown and
cannot be predicted with certainty; (x) in consideration of this grant of Performance Shares, no claim or entitlement to compensation or damages shall arise from termination of this Award or diminution in value of this Award or the Performance
Shares resulting from termination of Employee’s employment (whether or not in breach of local labor laws) pursuant to Section 8 hereof, and 
  

 7 

 Employee irrevocably releases the Company from any such claim that may arise; if, notwithstanding the foregoing, any such
claim is found by a court of competent jurisdiction to have arisen, then, by accepting the terms of this Agreement, Employee shall be deemed irrevocably to have waived any entitlement to pursue such claim; and (xi) notwithstanding any term or
condition of the Plan to the contrary, in the event of involuntary termination of Employee’s employment for Cause (whether or not in breach of local labor laws), Employee’s rights under this Agreement, including the right to vest in
unrestricted shares of Common Stock, if any, will terminate effective as of the date that Employee is no longer actively employed and will not be extended by any notice period mandated under local law (e.g., active employment would not include a
period of “garden leave” or similar period pursuant to local law); furthermore, in the event of involuntary termination of employment for Cause (whether or not in breach of local labor laws), Employee’s right to vest in this Award
after termination of employment, if any, will be measured by the date of termination of Employee’s active employment and will not be extended by any notice period mandated under local law; the Committee shall have the exclusive discretion to
determine when Employee is no longer actively employed for purposes of this Performance Shares grant. 
 13.
Miscellaneous. 
 (a) The Company shall not be required (i) to transfer on its books any Performance Share that has been sold or
transferred in violation of any of the provisions set forth in this Agreement, or (ii) to treat as owner of such Performance Share or to accord the right to vote as such owner or to pay dividends to any transferee to whom such Performance Share
has so transferred. 
 (b) Certain Definitions. For purposes of this Agreement: 
  
 (i) “affiliate” shall mean, with respect to any Person, any other
Person which, directly or indirectly, is in control of, or is controlled by, or is under common control with, such Person. 
 (ii)
“Code” shall mean the United States Internal Revenue Code of 1986, as amended. 
 (iii) “Fair Market Value”
on any date means (a) the closing price in the primary trading session for a share of Common Stock on such date on the stock exchange, if any, on which Common Stock is primarily traded (or if no shares were traded on such date, then on the most
recent previous date on which any shares were so traded), (b) if clause (a) is not applicable, the closing price of the shares of Common Stock on such date on The Nasdaq Stock Market at the close of the primary trading session (or if no
shares were traded on such date, then on the most recent previous date on which any shares were so traded) or (c) if neither clause (a) nor clause (b) is applicable, the value of a share for such date as established by the Committee,
using any reasonable method of valuation. 
 (iv) “Person” shall mean an individual, a corporation, a partnership, an
association, a trust or any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 
  

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 (v) “subsidiary” shall mean any Person (other than the Company) in an unbroken chain of
Persons beginning with the Company, if each of the Persons other than the last Person in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other Persons
in such chain. A Person that becomes a subsidiary on a date after the execution of this Agreement shall be considered a subsidiary commencing as of such date. 
 (c) Further Assurances. The parties hereto hereby agree to execute such further instruments and to take such action as may reasonably be necessary to carry out the intent of this Agreement. 
 (d) Documents Incorporated by Reference. The Plan is incorporated herein by reference. The Plan and this Agreement (and any documents or
certificates executed in connection herewith) constitute the entire agreement of the parties hereto with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Employee with
respect to the subject matter hereof. To the extent any provision of this Agreement is inconsistent or in conflict with any term or provision of the Plan, the Plan shall govern. 
 (e) Amendments. This Agreement may not be modified in a manner that adversely alters or impairs any rights or obligations of Employee under this
Agreement without the written consent of Employee, except in accordance with the terms of the Plan, including Section 15 thereof. 
 (f)
Notice. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon delivery to Employee at Employee’s address then on file with the Company. 
 (g) Successors and Assigns. This Agreement shall be binding upon and operate for the benefit of the Company and its successors and assigns, and
Employee, the heirs and legatees of Employee’s estate and Employee’s Representative, whether or not any such person has become a party to this Agreement and has agreed in writing to be joined herein and be bound by the terms hereof.
Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned by Employee without the prior written consent of the Company. 
 (h) Adjustment upon Certain Changes in Capitalization. To the extent permitted by Sections 11 and 12 of the Plan, in the event of any Change in Control (as defined in Section 2.7 of the Plan), share
exchange, reorganization, consolidation, recapitalization, reclassification, distribution, stock dividend, stock split, reverse stock split, split-up, spin-off, issuance of rights or warrants or other similar transaction or event affecting the
Common Stock after the date of this Agreement, the Committee is authorized, to the extent it deems appropriate, to make adjustments to the number and kind of shares of stock subject to this Agreement, including the substitution of equity interests
in other entities involved in such transactions, to provide for cash payments in lieu of restricted or unrestricted shares, and to determine whether continued employment with any entity resulting from such a transaction will or will not be treated
as continued employment by the Company or a subsidiary or affiliate. Unless otherwise determined by the Committee, such stock, securities, cash, property or other consideration shall remain 
  

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 subject to all of the conditions, restrictions and other criteria contained herein that were applicable to the
Performance Shares being adjusted prior to such adjustment. 
 (i) Governing Law. This Agreement shall be construed and enforced in
accordance with the laws of the State of Delaware, without giving effect to the choice of law principles thereof. 
 (j) Severability;
Counterparts. The provisions of this Agreement are severable and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.
If any provision of this Agreement is held unlawful or unenforceable in any respect, such provision shall be revised or applied in a manner that renders it lawful and enforceable to the fullest extent possible. This Agreement may be executed in one
or more counterparts, each of which shall be deemed an original for all purposes, and together shall constitute one and the same approval. 
 [REMAINDER OF THIS PAGE INTENTIONALLY BLANK] 
  

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 IN WITNESS WHEREOF, the parties have executed this Agreement, as of the date first above written.

  

			
	 CITADEL BROADCASTING CORPORATION

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 EMPLOYEE

		
		 	  

		 	[EMPLOYEE’S FULL NAME]
		 	(signature of Employee)

 RETAIN THIS AGREEMENT FOR YOUR RECORDS 

 EXHIBIT A 
 STOCK POWER 
 FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and transfer(s) unto
Citadel Broadcasting Corporation (the “Company”),
                                        
         (            ) shares of the Common Stock, par value $0.01 per share, of the Company standing in his/her/their/its name on the books of
the Company represented by Certificate No.                                 
herewith and do(es) hereby irrevocably constitute and appoint
                                        
         his/her/their/its attorney-in-fact, with full power of substitution, to transfer such shares on the books of the Company. 
  

							
	Dated:	 	  
	 	Signature:	 	  

  

	
	Print Name and Mailing Address
	  

	  

	  

	  

 INSTRUCTIONS: Please do not fill in any blanks other than the signature line and printed name and
mailing address. Please print your name exactly as you would like your name to appear on the issued stock certificate. 

 EXHIBIT B 
 SECTION 83(b) ELECTION 
 This statement is being made under Section 83(b) of the Internal
Revenue Code, pursuant to Treas. Reg. Section 1.83-2. 
  

	1.	The taxpayer who performed the service is: 

 Name:

 Address: 
 Social Security
Number: 
  

	2.	The property with respect to which the election is being made is
                     performance-based restricted shares of the Common Stock, par value $0.01 per share, of Citadel Broadcasting Corporation
(“Citadel”). 

  

	3.	The property was issued on
                                    .

  

	4.	The taxable year in which the election is being made is the calendar year         . 

  

	5.	The property is subject to forfeiture if the performance objectives specified in the grant are not satisfied by the specified time or the taxpayer ceases to be employed by Citadel
under certain circumstances, at any time prior to the applicable vesting date. The forfeiture provision lapses in a series of installments over a             -year period ending on
                        , 200    . 

  

	6.	The fair market value at the time of transfer (determined without regard to any restriction other than a restriction which by its terms will never lapse) is
$                 per share. 

  

	7.	The amount paid for such property is $0.00 per share. 

  

	8.	A copy of this statement was furnished to the Company for whom taxpayer rendered the services underlying the transfer of property. 

  

	9.	This statement is executed on
                                . 

 Taxpayer: 
 Spouse (if any): 
 This election must be filed with the Internal Revenue Service Center with which taxpayer files his or her Federal income tax returns and must be made within thirty
(30) days after the grant of Restricted Stock. This filing should be made by registered or certified mail, return receipt requested. You should retain two (2) copies of the completed form for filing with your Federal and state tax returns
for the current year and an additional copy for your records.Consultancy Services Agreement

 Exhibit 10.1 
 Consultancy Services Agreement 
 between 
 Neurobiological Technologies, Inc., 115 River Road (Suite 171), Edgewater, NJ 07020 
 (hereinafter referred to as “NTI”) 
 and 
 “S&P” Pharmatest Management GmbH, Hasenheide 54, D-10967 Berlin 
 (hereinafter referred to as “S&P”) 
 CONTENT 
  

			
	 
Introduction
	  	2
	 
Nature of Relationship
	  	2
	 
§1 Object, Scope
	  	2
	 
§2 Obligations of S&P
	  	3
	 
§3 Obligations of NTI
	  	3
	 
§4 Compensation, Payments and Payments Schedule
	  	4
	 
§5 Intellectual Property
	  	4
	 
§6 Confidentiality
	  	4
	 
§7 Term, Termination
	  	5
	 
§8 Force Majeure
	  	5
	 
§9 Miscellaneous
	  	5
	 
Appendix A Revised Price Estimation
	  	7
	 
Appendix B Payment Schedule for “S&P” Services
	  	10
	 
Appendix C Payment Schedule of Pass-through-costs for Travelling and communication
	  	11

  

 page 1 

 Concerning the Conduct of Clinical Studies 
 (hereinafter referred to as “Agreement”) 
 between 
 Neurobiological Technologies, Inc., 2000 Powell Street, Suite 800, Emeryville, California
94608 
 and, at 
 115
River Road (Suite 171), Edgewater, NJ 07020 
 (hereinafter referred to as “NTI”) 
 and 
 “S&P” Pharmatest
Management GmbH, Hasenheide 54, D-10967 Berlin 
 (hereinafter referred to as “S&P”) 
 (NTI and S&P hereinafter together referred to as the “Parties” and individually as a “Party”) 
 
Introduction 
 Whereas, NTI is engaged in the research, development, manufacture and future
marketing of pharmaceutical products; 
 Whereas, S&P is active in the business of Consultancy Services in clinical trials management, in particular in
designing, setting up, Projects management, site management, and monitoring relating to clinical trials; Whereas, NTI wishes to retain S&P to conduct certain Consultancy Services on product development activities 
 under 
 Protocol Number: NTI-ASP-0502:

 Study of Acute ViprinexTM for Emergency Stroke: 
 A Randomized, Double-Blind, Placebo-Controlled Study of Ancrod (ViprinexTM) in Subjects Beginning 
 Treatment within 6 Hours of the
Onset of Acute, Ischemic Stroke; 
 and 
 Protocol Number: NTI-ASP-0503: 
 ASP-II (Ancrod in Stroke Program-ll): A Randomized, Double-Blind,
Placebo-Controlled Study of Ancrod 
 (ViprinexTM) in Subjects Beginning Treatment within 6 Hours of the Onset of Acute, Ischemic Stroke

 (Protocol Number: NTI-ASP-0502 and Protocol Number: NTI-ASP-0503 hereinafter together referred to as the “Projects” or “Studies”
and individually as a “Project” or “Study”). 
 
Nature of Relationship 
 S&P agrees that, in its relationship with NTI hereunder, it is acting in the capacity of an
independent consultant company and that it has authority based on Power of Attorney dated 14th of December 2005 to
act on behalf and as a legally empowered representative of NTI to perform the Studies as an independent consultant. S&P shall have complete and exclusive control over its own employees and/or S&P Agents. Management direction of the Studies
shall be exclusively by NTI. 
 Now, therefore the Parties hereto agree as follows: 
 
§ 1 
 Object, Scope 
  

	(1)	NTI retains S&P to consult and conduct their consultancy services on the above mentioned Studies in Europe, in the territories of Czech Republic, Poland, Netherlands, Germany,
Austria, Belgium, Italy, Switzerland, the UK, Scotland, Russia and such other countries in Europe as may later be decided in writing between NTI and S&P (hereinafter referred to as “Consultancy Services”). “S&P” shall
assist NTI in the conduct of the Study/ies pursuant to this Agreement and attached hereto as Appendix A and made a part hereof (the “Consultancy Services”). 

  

	(2)	Notwithstanding that the outcome of the Projects, in particular its future industrial exploitation, is uncertain, “S&P” shall be fully and solely responsible for the
conduct of the Projects assigned to S&P, and the various activities set forth in this Agreement and its Appendices. 

  

 page 2 

	(3)	NTI may at any time amend the Projects by giving written notice to S&P, provided, however, that such amendment does not increase the scope of duties or services to be performed
by S&P in connection with the Projects. If an amendment increases the scope of the duties or services to be performed by S&P in connection with the Projects, the Parties shall negotiate in good faith an amendment regarding reimbursement.

  

	(4)	S&P will perform the Consultancy Services and the Study/ies in accordance with the Appendixes A, B, & C, current Good Clinical Practices, the final Protocols (Final
Protocol NTI-ASP-0502, as dated 02 June 2005, Amendment 1/ 03 October 2005 and Final Protocol NTI-ASP-0503, as dated 07 November 2005), and all applicable and relevant S&P and/or NTI-provided SOPs. S&P agrees to use its best
efforts to cooperate and work with other vendors contracted by NTI involved in the Studies. 

 
§ 2 
 Obligations of S&P 
  

	(1)	S&P shall conduct the Projects as an independent Consultancy Services Contractor, subject to NTI management. S&P shall be fully and solely responsible for organizing the
workload and the tasks for Studies according to the Appendices A, B, & C and within the agreed budget (see attached hereto as Appendix A). 

  

	(2)	The Studies will be facilitated by S&P through the use of the Institutions and the medical doctors designated by the Institution to conduct the Study/ies at Institution (each,
an “Investigator”). Prior to the initiation of any on-site Study/ies-related activities, NTI shall approve each Institution and Investigator. NTI reserves the right to designate certain Institutions and/or Investigators to be
enrolled in the Study/ies. If S&P has incurred past negative experiences with any such institution or investigator, S&P will bring this to the attention of NTI for final disposition. 

  

	(3)	S&P shall negotiate the clinical trial agreement with each Institution and Investigator. Such clinical trial agreements shall be consistent with the terms of this Agreement in
all respects. The template clinical trial agreement will be provided by NTI for each applicable jurisdiction and all changes to the template clinical trial agreement requested by each Institution or Investigator must be approved by NTI prior to
finalizing the clinical trial agreement for such Institution and Investigator. Clinical trial agreements shall not be executed by Institutions or Investigators until they have been fully approved by NTI. 

  

	(4)	In the conduct of the Projects, S&P shall observe and comply with the guidelines of ICH (International Conference on Harmonization of Technical Requirements for Registration of
Pharmaceuticals for Human Use). 

  

	(5)	S&P shall have full responsibility for compliance with all local laws and regulations affecting any duties and obligations delegated to S&P under this Agreement.

  

	(6)	S&P shall inform without undue delay NTI concerning any extraordinary development. 

  

	(7)	S&P shall notify NTI immediately upon being notified or becoming aware of any planned, scheduled, or ongoing FDA or other applicable governmental authorities and regulatory
agencies audit and/or inspection of any Institution, S&P, and/or S&P Agents. 

 
§ 3 
 Obligations of NTI 
  

	(1)	NTI will provide to S&P all relevant documents and materials for study conduct, including but not limited to the Study/ies medication / pharmaceutical products for testing, as
well as the Study/ies protocols, the investigator brochure, etc. related to the Projects. If NTI wishes S&P to work according to certain relevant NTI or SCIREX SOPs, NTI has to provide the corresponding SOPs to S&P in time. NTI shall deliver
all relevant and requested documents in time, in order to support fast submission process. 

  

	(2)	NTI will assure that the Study Drug and comparative agent(s), if applicable, and placebo(s), if applicable, are provided on a timely basis and at no charge to selected institutions
and to S&P and in amounts NTI deems adequate to accommodate the patient treatment period as specified in the Protocol. 

  

	(3)	NTI shall be responsible for the quality of the Study Drug and the completeness of NTI’s documents required for the submission file (e.g. IMPD). NTI and S&P are jointly
responsible for responding to all requests and demands of regulatory authorities in time, after receipt of these requests and demands directly from the regulatory authorities or through S&P. 

  

	(4)	NTI shall be solely and fully responsible for properly insuring the trial patients according to applicable international, federal and local regulations, upon which regulations NTI
will rely upon the advice of S&P, and NTI shall bear the costs relating to such insurance. 

  

	(5)	 NTI is responsible to indemnify, defend, and hold harmless S&P, its affiliates, and their respective officers, directors, and employees from and against any
loss, including but not limited to attorney’s fees, cost of suit, 

  

 page 3 

	 	 
judgments and settlements arising from a claim made against an S&P Indemnitee by an independent third party, to the extent that such Loss (i) is a
direct result of administration of the Study/ies Drug or (ii) directly arises out of the activities or procedures required to be carried out in this Study/ies or Protocols; except to the extent that such Loss results from (a) severe
negligence of S&P Indemnitee or S&P Agents or any severe and relevant violation by S&P Indemnitee of this Agreement (b) the willful malfeasance or nonfeasance by S&P Indemnitee, (c) any relevant violation by S&P
Indemnitee of any relevant applicable federal law(s) or reguiation(s). As a condition precedent to indemnification hereunder, S&P Indemnitee agrees to notify NTI in writing within thirty (30) days of S&P Indemnitee becoming aware of any
claim threatened, asserted, made, brought, or instituted against it that could or may result in a Loss. Whenever the S&P Indemnitee has information from which it may reasonably conclude that an incident of bodily injury, sickness, disease, or
death has occurred (an “Incident”) to a Study/ies Subject during the Study/ies, S&P Indemnitee shall immediately notify NTI of all pertinent data surrounding such Incident. S&P Indemnitee shall cooperate fully in assisting
NTI with respect to gathering information concerning the time, place, and circumstances of such potential or actual claim(s) and in obtaining the names and addresses of the injured parties and all available witnesses. S&P Indemnitee agrees to
cooperate with and authorize NTI to control the defense of such claim(s) (including all decisions as to legal counsel, litigation, settlement, and appeal). No S&P Indemnitee or S&P Agents (approved in accordance herewith) shall compromise or
settle any claim(s) without the prior written approval of NTI. 

  

	(6)	NTI shall pay within 15 working days to the S&P account, following receipt of corresponding S&P invoices and supporting bills (for pass-through costs) electronically, or by
other mail delivery. Each S&P invoice will be sent to the following e-mail address: 

  

	(7)	NTI AccountsPayable@ntii.com, or if by mail to: NTI Accounts Payable, 2000 Powell St., Suite 800, Emeryville, CA. 

  

	(8)	Invoices will be submitted as work is performed and invoices submitted will reference the Sections of the “Tasks” in the Revised Cost estimation Phase III studies at
Appendix A. 

 
§ 4 
 Compensation, Payments, and Payments Schedule 
 Details of compensation, payment, and payment schedule are defined in the Appendices A, B & C, which are an integral part of this Consultancy
Services Agreement. 
 
§ 5 
 Intellectual Property 
  

	(1)	All information, know-how, or results developed or obtained in connection with the Projects shall become the exclusive property of NTI and NTI shall exclusively have the right to
exploit such information or know-how, including but not limited to publishing and/or applying for any intellectual property rights. 

  

	(2)	Notwithstanding anything to the contrary set forth herein, upon the expiration or termination of this Agreement, S&P shall transfer, assign, and make available to NTI, if NTI so
requests, all property and materials in S&P’s possession or control belonging to NTI including, without limitation, the right, title, and interest in and to the Inventions and patent applications and patents thereon. S&P shall (and at
NTI’s reasonable expense) cooperate in obtaining the consents of third parties in interest, if any. S&P shall provide NTI with data needed from the sites for the assesment of efficacy and tolerability of the study compound.

  

	(3)	This Paragraph 5 shall survive indefinitely after the termination or expiry of this Agreement. 

 
§ 6 
 Confidentiality 
  

	(1)	S&P shall cause its employees to hold in strict confidence and not use for any purpose other than the Projects or disclose to any third party any confidential information
obtained in connection with the Projects. The term “confidential information” shall mean any facts and circumstances of any kind which are not known (or do not become known) publicly, including know-how and other business secrets as well
as the existence and terms of this Agreement, without the prior written consent of NTI. 

  

	(2)	 S&P agrees to obtain from each Study/ies Subject at the time of enrollment in the Study/ies a signed Authorization that satisfies the requirements of the
applicable personal data privacy standards. S&P agrees to give timely notice to NTI of a site’s failure to obtain a subject’s signed Authorization at the time of enrollment. With regard to the processing of personal data, S&P will
ensure that any laws, regulations, or 

  

 page 4 

	 	 
directives that relate to data privacy will be followed with regard to such portions of the Study/ies which will be conducted within the jurisdiction of
those rules. 

  

	(3)	The foregoing shall not apply to confidential information which is or becomes lawfully known to the public or which is required to be disclosed to a third party by court order or an
order of a governmental authority. 

  

	(4)	NTI shall commit its employees to keep in strict confidence specific know-how and details of the organization and of employees of S&P. Such information may however be disclosed
to NTI’s affiliate. Subsection (2) above shall apply correspondingly. NTI shall keep all information related to S&P’s structure, SOPs, employees and/or Agents, their CVs, etc. confidential. NTI shall not disclose such information
to any third party, including SCIREX, without the written approval of S&P. 

  

	(5)	This Paragraph 6 shall survive indefinitely after the termination or expiry of this Agreement. 

 
§ 7 
 Term, Termination 
  

	(1)	This Agreement shall become effective as of the date of the last signature to this Agreement and shall remain in force until completion and acceptance of the Projects by NTI unless
terminated in accordance with this Agreement. 

  

	(2)	This Agreement may be terminated by NTI for any reason and at any time upon thirty (30) days written notice to S&P. 

  

	(3)	However, any costs, proven to have been caused by the conduct of the Study/ies for S&P up to the point at which the termination became effective and future costs which cannot
reasonably be avoided until the correct completion of the terminated Study/ies according to ICH-GCP standards, shall be reimbursed. 

  

	(4)	The rights of the Parties in case of a termination for cause shall remain unaffected. 

  

	(5)	NTI shall have the right to require S&P to continue work on the Study/ies on a “phase-out” basis during and after the termination period, which has to be reimbursed on
a time-and-material basis to S&P. 

 
§ 8 
 Force Majeure 
  

	(1)	In the event a Party is unable to perform its duties and obligations under this Agreement as a direct effect of any act of God including fire, storm, explosion, war, insurrection,
embargo or governmental prohibition, or any other reason beyond the reasonable control of such Party and not in force or to be expected at the time of entering into this Agreement (Force Majeure), it shall promptly notify the respective other Party
of such inability or expected inability stating the reason and shall use all reasonable steps to remedy the effects of such reason. Notification shall be made in writing to the addresses identified in Section 9 of this agreement or by any other
means of communication available and confirmed in writing to the addresses identified in Section 9 of this agreement. 

  

	(2)	Following receipt of such notice, the Parties’ rights and duties under this Agreement shall initially be suspended. If Force Majeure continues or is expected to continue for
period in excess of 2 months, the Parties shall negotiate in good faith the actions to be taken and, if required, amend the terms of this Agreement or the Projects as required to mitigate the effect of the inability to perform.

  

	(3)	If the Parties are unable to agree on an amendment to the Projects within a period of 2 months following notification pursuant to subsection (1) above, either Party may
terminate this Agreement or certain elements of the Projects directly related to Force Majeure. In this case, only work completed prior to the occurrence of the Force Majeure shall be compensated. 

 
§ 9 
 Miscellaneous 
  

	(1)	All notices and other communication required or permitted hereunder shall be in writing in the English (required language for NTI) or German language, and, unless otherwise provided
in this Agreement, will be deemed to have been duly given when delivered in person or when dispatched by e-mail or facsimile (both confirmed in writing by registered mail dispatched on the same day) to the appropriate Party at the address specified
below. 

  

			
	 If to NTI to:
	  	David E. Levy, MD, Vice President, Clinical Development
		  	Neurobiological Technologies, Inc., 115 River Road (Suite 171), Edgewater, NJ 07020
		  	+1-201-941-8422 (office)
		  	+1-866-227-6598 (beeper)

  

 page 5 

			
		  	                    or
		  	William McLaughlin, MS, Clinical Project Team Leader
		  	Neurobiological Technologies, Inc.,
		  	115 River Road (Suite 171), Edgewater, NJ 07020
		  	+1-201-941-8522 (office)
		  	                    or
		  	Sheila B. Beckett, Clinical Trial Manager
		  	Neurobiological Technologies, Inc.
		  	115 River Road (Suite 171), Edgewater, NJ 07020
		  	+1-201-941-8814 (office)
		  	+1-201-941-8355 (fax)
		
	 If to S&P to:
	  	Dr. Alexander Siebel, CEO
		  	“S&P” Pharmatest Management GmbH
		  	Hasenheide 54,
		  	D-10967 Berlin, Germany
		  	+49-30-692-24-25 (office)
		  	+49 172 38 29868 (mobile)

 Or to such other address or addresses as such Party may from time to time designate by written
notice. Additionally, regarding all day-to-day administrative or financial issues, each Party shall appoint a person responsible. 
  

	(2)	This Agreement together with all Appendices (A, B & C) hereto supersedes any other agreement that may have been made or entered into by the Parties relating to the Projects.

  

	(3)	This Agreement, together with all Appendices (A, B & C) sets forth all of the promises, agreements, understandings, covenants, warranties, and representations by and among the
Parties and there are no other promises, agreements, understandings, covenants, warranties, or representations, oral or written, express or implied, between them with respect to the subject matter addressed herein. This Agreement, together with the
Appendices, is intended by the Parties to be an integration of any and all prior agreements and understandings, oral or written, with respect to the subject matter addressed herein. 

  

	(4)	It is agreed that this Agreement is deemed to be consummated in the State of California, U.S.A., and that the terms and provisions of this Agreement shall be construed and
interpreted pursuant to the laws of California, without regard to the conflict of laws rules or principles thereof. The state or federal courts located in the State of California are the agreed-upon forum for the resolution of all disputes
hereunder, and the Parties, their officers, and employees hereby consent to (i) the jurisdiction and venue of the aforesaid courts for the purpose of resolving all such disputes and (ii) service of process by registered mail, return
receipt requested, or any other manner consistent with federal or California law. 

  

	(5)	Any amendment to this Agreement or the Appendices hereto shall be in writing. This shall also apply to a waiver of this written form requirement. The term “writing” shall
not include the verbal statements of one of the parties reflected in the confirmation letter of the other party. 

  

	(6)	In the event that one or more provisions of this Agreement should be invalid or if this Agreement should be incomplete, the validity of the other provision of this Agreement shall
not be affected thereby. In such case, the invalid or incomplete provision shall be deemed replaced by such valid provision or by such provision completing this Agreement which is or which is commensurate with the commercial intent of this Agreement
as of the date hereof. 

  

									
	 - NTI -
 Neurobiological Technologies, Inc..
 115 River Road (Suite 171)
 Edgewater, NJ 07020, USA
  
 Date 16 Feb 2006
	 		 	 - S&P -
 “S&P” Pharmatest Management GmbH
 Hasenheide, 54
 D-10967 Berlin, Germany
  
 Date 01. Feb. 2006

					
	Signature	 	 /s/ Illegible
	 		 	 Signature
	 	 /s/ Alexander Siebel

					
	 Date
	 	 FEB 14, 2006
	 		 		 	 Dr. Alexander Siebel
 S & P Pharmatest Management GmbH
 Hasenheide 54
 10967 Berlin
 Tel.: 030 / 692 24 25
 Fax: 030 / 693 75 00

	 Signature
	 	 /s/ Illegible
	 		 		 
		 	 VP & VFO
	 		 		 

  

 page 6 

 
APPENDIX A(1) 
 Revised Cost estimation Phase III studies: 
 NTI-ASP-0502 and NTI-ASP-0503 (Based on 350 patients in 35 sites) 
 23th December 2005 (R01 FebO6) 
  

			
	 General
Assumptions

	 Study Phase
	 	 III

		
	 Number of investigation sites with pre-study qualification visits
	 	 approx. 35

		
	 Number of patients randomised
	 	 350

		
	 Countries of enrolment
	 	 Germany, Switzerland, Netherlands, UK,
 Scotland, Czech, Poland, Russia, Austria

		
	 Recruitment period per protocol
	 	 max. 17 month

		
	 Clinical duration
	 	 90 days

		
	 Pre-study monitoring visit
	 	 1 per center

		
	 On-site initiation monitoring visit
	 	 1 per center

		
	 On-site interim monitoring visit in active recruiting sites
	 	 high recruitment: app. 3-4 weekly interval, with a call weekly
  
 low recruitment: app. 6-8 weekly interval, with a call weekly

		
	 On-site close out monitoring visit
	 	 1 per center

		
	 Number of CRAs/Monitors
	 	 6

		
	 Number of project managers
	 	 2 - 3

		
	 Number of project leaders (CRO)
	 	 1

  

 page 7 

 Appendix A(2) 
 Revised Cost estimation Phase III studies: 
 NTI-ASP-0502 and NTI-ASP-0503 (Based on 350
patients in 35 sites) 
 24th December 2005 (R01 FebO6) 
  

					
	I	  	 Task S & P
	  	 Total
 EUR

	1	  	StudyStart Up Activities incl.	  	197,000.00
		  		  	 
	1-1	  	Conduct Pre-initiation Visits and Reports after signature of this agreement, if necessary	  	
	1-2	  	Negotiate Investigator Contracts	  	
	1-3	  	EC-paperwork	  	
	1-4	  	Submit EC	  	
	1-5	  	Validate Pre-Study Documents for the site	  	
	1-6	  	Set Up Investigator Files	  	
	1-7	  	Adapt US Investigator Operations Manual to European Use if necessary	  	
	1-8	  	Prepare/Ship Investigator Regulatory Binders	  	
	1-9	  	Regulatory Support (SAE-reporting to IRB’s)	  	
			
	2	  	Project Management Activities incl.	  	461,000.00
		  		  	 
	2-1	  	Provide Project Management and Support	  	
	2-2	  	Conduct Internal Project Team Meetings and Training	  	
	2-3	  	Coordination w/ other involved parties (Amb., Drug Courier, Lab, etc)	  	
	2-4	  	Archive All Electronic and Paper Documentation	  	
			
	3	  	Monitoring and Site Management-Activities incl.	  	1,119,000.000
		  		  	 
	3-1	  	Conduct Initiation Visit at Each Site	  	
	3-2	  	Conduct Monitoring Visits (approx 1 / site / month for active sites)	  	
	3-3	  	Maintain Telephone Contacts with Study Sites and other involved parties (approx 1 / site / week, if necessary)	  	
	3-4	  	Provide Written Monitoring and Status Reports to Sponsor (At intervals of 5-6 weeks, approx.EUR 300,00 each)	  	
	3-5	  	Conduct close out visits	  	
	3-6	  	Perform Drug Accountability Audit	  	
	3-7	  	Provide Close out Report	  	
	3-8	  	Return Completed CRFs and Query Records to Sponsor	  	
	3-9	  	Complete queries with the sites	  	
			
	4	  	Medical Compliance Management Activities incl.	  	112,00.00
		  		  	 
	4-1	  	SAE Management (Forwarding narratives to Sponsor and managing follow-up questions)	  	
			
	5	  	Internal Quality Assurance	  	36,00.00
		  		  	 
		  	Total costs for 350 patients *	  	1,925,000.00
		  	Total costs per patient *	  	5,500.00
		  		  	 
		  	 Discount per patient
	  	500.00
		  	 Discount total
	  	175,000.00
		  		  	 
		  	Total discount price per patient* in EUR plus VAT	  	5,000.00
		  	Total discount price for 350 patients* in EUR plus VAT	  	1,750,000.00
		  		  	 

  

	*	The cost calculation based on 350 patients in 35 sites. 

  

	*	The costs in EUR do not include VAT. 

  

	*	Costs for additional services, additional patients, additional centers and additional countries will be charged on time and material basis. 

  

	*	Invoices will be accompanied by a statement from S&P’s accountant describing and confirming actual work performed. 

  

 page 8 

 Appendix A(3) 
 Revised Cost estimation Phase III studies: 
 NTI-ASP-0502 and NTI-ASP-0503 (Based on 350
patients in 35 sites) 
 23th December 2005 
  

					
	 II A
  
	  	 Pass through costs NTI ASP-0503
 will be charged on time and material basis plus VAT
	  	 Estimated costs
  

			
	1	  	Total Investigator fees	  	NTI to be invoiced by site
			
	2	  	Patient transportation by municipal ambulance	  	NTI to be invoiced by site
			
	3	  	Travel costs	  	approx. 300-1.000 EUR per day
			
	4	  	Translations Costs	  	approx. 1-1,50 EUR per standard lines
			
	5	  	Fees for ethic committee	  	approx. 1.000-1.500 EUR per site
			
	6	  	Shipment and courier costs	  	approx. 50-120 EUR per shipment
			
	7	  	Investigator Meeting (Organization and conduct)	  	approx. 1.800 EUR per participant
			
	8	  	Communication costs: S&P with sites and other involved parties	  	approx. 2.500-4.000 EUR per monthly
			
	9	  	Project meeting costs	  	approx.500EUR per attendee+hotel per day
			
	 II B
  
	  	 Pass through costs NTI ASP-0502
 will be charged on time and material basis plus VAT
	  	 Estimated costs
  

			
	1	  	Total Investigator fees	  	NTI to be invoiced by site
			
	2	  	Patient transportation by municipal ambulance	  	NTI to be invoiced by site
			
	3	  	Travel costs	  	approx. 300-1.000 EUR per day
			
	4	  	Translations Costs	  	approx. 1-1,50 EUR per standard lines
			
	5	  	Fees for ethic committee	  	approx. 1.000-1.500 EUR per site
			
	6	  	Shipment and courier costs	  	approx. 50-120 EUR per shipment
			
	7	  	Investigator Meeting (Organization and conduct)	  	single meeting for 0502/0503
			
	8	  	Communication costs: S&P with sites and other involved parties	  	approx. 2.500-4.000 EUR per monthly
			
	9	  	Project meeting costs	  	approx.500EUR per attendee+hotel per day

 Invoices for pass-through expenses will be accompanies by back-up documentation (e.g., relevant receipts).

  

 page 9 

 
Appendix B 
 Payment schedule for “S&P” Consultancy Services 
 In consideration of the work contracted to “S&P” Pharmatest pursuant to this agreement, NTI shall pay “S&P” a total amount in Euro
1.750.000,00 plus VAT, which is based on the enrollment of 350 patients. 
 All payments shall be made on a pro rata basis
in accordance with and described in the following payment schedule. 
 Modifications concerning the sample size will be
adjusted accordingly. 
 Payment schedule: 
  

					
	 -        EUR
	  	350.000,00	  	    1 invoice upon signature of the contract
	 -        EUR
	  	50.000,00	  	    1 invoice upon completion of 11 pre- Initiation visits
	 -        EUR
	  	50.000,00	  	    1 invoice upon completion of 22 pre- Initiation visits
	 -        EUR
	  	50.000,00	  	    1 invoice upon completion of all pre- Initiation visits
	 -        EUR
	  	180.000,00	  	    1 invoice upon submission of the first positive ethics vote
	 -        EUR
	  	180.000,00	  	    1 invoice upon initiation of the first center
	 -        EUR
	  	330.000,00	  	    1 invoice upon enrollment of the first patient
	 -        EUR
	  	350.000,00	  	    divided into 70 invoices 5.000,00 EUR each upon enrollment of every new 5 patients
	 -        EUR
	  	150.000,00	  	    1 invoice upon CRF completion
	 -        EUR
	  	60.000,00	  	    1 invoice query completion

 Invoices will be accompanied by a statement from “S&P” Pharmatest’s accountant describing and
confirming the actual work performed for that milestone payment. 
 Investigator grants, negotiated by S&P on behalf of NTI, and to be agreed with the
investigators and NTI, shall be paid directly to the investigative sites by NTI. 
 These costs are not included in the payment schedule of
“S&P” Pharmatest’s Consultancy Services and the payment schedule of pass-through costs for travelling and communication Consultancy Services. 
 Payment on S&P invoices shall be made within 15 working days following the receipt of “S&P” Pharmatest’s invoice by NTI to the following account: 
 Deutsche Bank AG 
 Account No: 5674080 
 Bank Code: 10070000 
  

 page 10 

 
APPENDIX C 
 Pass-through costs for travelling expenses and communication services: 
 Payment schedule: 
  

	 	•	 	Down payment of Euro 100.000,00 

  

	 	•	 	Monthly payments of Euro 12.000,00 during the curse of the Study/ies, payments to be made up to but not exceeding the cumulative amount of actual “Pass-through” costs
actually incurred at any point in time. 

  

	 	•	 	All actual pass-through costs for travelling expenses and communication Consultancy Services shall be credited against the down-payment. If the actual pass-through costs—for
the above mentioned Consultancy Services - get higher than the down payment, NTI has to reimburse the difference to “S&P” Pharmatest Management GmbH. 

 Payment shall be made within 15 working days following the receipt of “S&P” Pharmatest’s invoice by NTI to the following account: 
 Deutsche Bank AG 
 Account No: 5674080 
 Bank Code 10070000 
 Reimbursement Policy: 
 1. Arrangements should be made in sufficient time to take advantage of time-related discounts.
This especially applies to discounts offered for reservations made at least seven days in advance, whenever possible. Air travel by S&P for NTI business should be at “economy” class for all flights under 5 hours, and business class for
flights in excess off 5 hours. Dr. Siebel can fly business class at all times. 
 2. Transportation between an airport and Institution, employee home or
office should be accomplished in a reasonably cost effective manner (e.g. taxi) 
 3. Hotel reservations should be made at “business class” hotels
within a reasonable distance from the location at which business will be conducted. “Business class” hotels in most cities should not exceed $250,00 per day. This may be difficult in some countries and cities as the U.K., Switzerland and
Russia (e.g., London, Zurich, Moscow or St. Petersburg and other Russian cities where centers are located and the hotels might be more expensive). However, whenever possible, reasonable accomodations should be secured in most areas within this
price. 
 4. Automobile rentals should be made in the compact or mid-size car class. Larger vehicles may only be utilized during periods of special discount
rates (e.g., same as normal mid-size rate). The agent should be asked for the least expensive on-location vendor for that market. Costs between vendors vary from city to city and significant savings may be realized by using different vendors in
different markets. Automobile rental costs should be considered versus the cost of a taxi, particularly for the same day trips. 
 5. Reasonable meal
expenditures will be reimbursed and approved (with an upper limit of approximately $80,00 per day). This per diem should be prorated accordingly for individuals working less than one full day. The per diem allowance may not be accumulated from day
to day. 
 6. Employees may offer to pay for meals with Investigators and/or study staff. This should be done with discretion and not on a routine basis.
When entertaining, employees are expected to exercise good judgement in choosing restaurants in order to keep meal expenditures within reasonable limits. 
 7. Distance telephone calls per day of a reasonable duration to the United States and also from, to and within the following countries: Germany, Russia, Czech Republic, Poland, Netherlands, Belgium, Austria, Switzerland, Italy, the UK,
Scotland will be reimbursed. 
 All S&P’s business telephone calls related to the projects will also be reimbursed.

  

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 8. Shows, movies, servi-bar, and other sources of personal entertainment will not
be reimbursed. 
 9. Incidental expenses of a personal nature will not be reimbursed, except when mandated due to
status (e.g., snowed in). Reasonable laundry expenses will be reimbursed when on business for NTI for at least three consecutive days. 
 NOTE: This list
details major items but is not all inclusive. All expenses should be accompanied with original appropriate receipts. Expenses may be reviewed in order to determine their compliance and reasonableness. 
  

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