Document:

EXHIBIT
10.8

    CONSULTING
AGREEMENT FOR

    SCIENTIFIC
ADVISORY BOARD MEMBERS

     

    This
Agreement entered into this 1st_ day of  July, 2007, by and between
Sign Path Pharma, Inc. (“Sign Path”), a
Delaware corporation, with its principal place of business at [1375 California
Road, Quakertown, PA, 18951] and Lawrence Helson MD, a Scientific Advisory Board
member]  f 1375 California Road Quakertown,
Pennsylvania  18951, USA

     

    WHEREAS,
Sign Path is a newly organized corporation engaged in research and development
activities and marketing of new products; and

     

    WHEREAS,
Sign Path has established a Scientific Advisory Board to review the research
projects of Sign Path and of partnerships in which Sign Path is a [general]
partner (the “Partnerships”) and
analyze the progress and direction of the research projects; to consider and
advise Sign Path with respect to any proposed or future research projects; and
to consider and suggest general areas of research to be pursued or significant
products that should be developed;

     

    IT IS
MUTUALLY AGREED AS FOLLOWS:

     

    
      
        	
              	
                1.

              	
                Nature of Consulting
      Duties.
      Advisor, acting as an employee, shall provide consulting services to Sign
      Path as a Head of the Scientific Advisory Board (“SAB”) of Sign
      Path. As a member of the SAB, Advisor will be expected to attend at least
      one  meeting per year and be available for telephonic
      consultation and for review of proposed projects submitted to SignPath
      from time to time, on matters within Advisor’s field of expertise, with
      executives and scientific personnel of Sign Path and any
      Partnerships.

              

      

    

     

    
      
        	
              	
                2.

              	
                Other Consulting
      Arrangements.  As
      of the date of this Agreement, Advisor is performing duties with the
      following parties:consultant Hemobiotech Inc, Sabinsa.Corporation Advisor
      agrees not to amend any present agreement with the foregoing parties nor
      to enter into any other consulting arrangement with any party which may
      conflict with the  domain of activity of Sign Path, without the
      prior written notification of Sign
Path.

              

      

    

     

    
      
        	
              	
                3.

              	
                Relationships with
      Competitors.
      Advisor shall disclose on an exhibit attached hereto any existing
      directorships, scientific advisory positions, consulting relationships,
      and other similar relationships with other organizations (whether or not
      for profit) that are or might at some future time be in competition with
      Sign Path, and  that would or might create a conflict of
      interest. Compensation.  During
      the term of this Agreement, Advisor shall receive compensation from
      SignPath as follows:

              

      

    

     

    a.           Advisor
shall be reimbursed for his/her expenses of food, board and travel
to  attend  SAB meetings;

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    b.           After
the closing of a private placement of at least $3 million, a maximum of
two  SAB meetings per year will be held. For participation in this
activity the monies  paid to Advisor shall be credited the
following:

     

    (i)           $2500.00
for each meeting called by SignPath and attended by Advisor.

     

    (ii)           At
the discretion of Sign Path, options to purchase common stock of Sign Path may
be made available  to Advisor when a sign path option plan is
implemented

     

    Unless SignPath’s prior written consent
has been obtained, SignPath shall not be obligated to reimburse Advisor for the
cost of office space, secretarial services, office supplies, or office
equipment.

     

    
      
        	
              	
                4.

              	
                Term and
      Termination.
      This agreement shall commence on the date Advisor signs the agreement as
      described in Paragraph 4(b) above. It is renewable each year thereafter;
      provided,
      that both parties mutually agree. Either party may terminate this
      Agreement upon thirty (30) days written notice to the other party and that
      this Agreement may be terminated at any time by mutual consent of the
      parties.

              

      

    

     

    
      
        	
              	
                5.

              	
                Inventions,
      Improvements and Research Projects.
      Advisor may submit to SignPath inventions, improvements or research
      projects that Advisor considers appropriate for Sign Path to conduct,
      sponsor or market. Sign Path will pay to Advisor a reasonable royalty, to
      be negotiated on a case by case basis, out of the revenues received by
      SignPath as a result of any such inventions, improvements or projects. Any
      invention made by the advisor as a result of this agreement will be the
      property of Sign Path and Advisor and  the Advisor will assign
      ownership in the invention to Sign Path contingent upon licensing terms
      for his or her part

              

      

    

     

    
      
        	
              	
                6.

              	
                Confidential
      Information.
      In the course of performing services hereunder, it is anticipated that
      Advisor may, from time to time, have access to confidential records, data,
      formulae, trade secrets and similar confidential information owned or
      utilized by Sign Path or the Partnerships and/or used by Sign Path or the
      Partnerships in the course of its business. During the term of this
      Agreement and for five years thereafter, Advisor will not directly nor
      indirectly disclose or use any such confidential information. Sign Path
      agrees to abide by any reasonable restrictions on the use and disclosure
      of confidential information received from Advisor. Advisor will be bound,
      to the same extent as Sign Path itself, by Sign Path’s commitments to
      third parties with respect to the use and disclosure of confidential
      information furnished by such third
parties.

              

      

    

     

    
      
        	
              	
                7.

              	
                Death of
      Advisor.
      In the event that Advisor dies during the term of this Agreement, then
      this Agreement shall automatically
terminate.

              

      

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      
        	
              	
                8.

              	
                Notices.
      Any notices, demands, directions or requests required or desired to be
      given hereunder to a party hereto shall be in writing and shall be given
      or made by first-class mail to the respective address first above written.
      Each party may designate a different address by notice in writing to the
      other party.

              

      

    

     

    
      
        	
              	
                9.

              	
                General.
      This Agreement constitutes the entire agreement between the parties, may
      not be amended except by written notice signed by both parties, is binding
      upon the successors and assigns of Sign Path and shall be governed by the
      laws of the State of New York.  The Advisor may not assign this
      Agreement.

              

      

    

     

    
      
        
          
            
              
                
                  	
                          SIGN
      PATH PHARMA, INC.

                        
	
                          By:

                        	
                          Lawrence
      Helson MD

                        
	 
      	 
      
	
                          Title:

                        	
                          C.E.O.

                        
	 
      	 
      
	
                          By:

                        	
                          /s/
      Lawrence Helson

                        
	 
      	
                          Lawrence
      Helson
MD

                        

                

              

            

          

        

      

    

    
      
         

      

      
        3Exhibit
10.9

     

    PATENT
AND TECHNOLOGY LICENSE AGREEMENT

     

    This
thirty-four (34) page AGREEMENT ("AGREEMENT") is made on this 18th day
of August, 2008, by and between THE UNIVERSITY OF NORTH TEXAS HEALTH SCIENCE
CENTER at FORT WORTH (UNTHSC), a State of Texas institution of higher
education, whose address is 3500 Camp Bowie Blvd. Fort Worth, Texas 76107-2699,
and SIGNPATH PHARMACEUTICALS, INC., a Delaware corporation having a principal
place of business located at 45 Broadway, 2nd Floor
New York, NY 10006 ("LICENSEE").

     

    
      RECITALS

    

     

    
      	
              A.

            	
              UNTHSC
      owns certain PATENT RIGHTS and TECHNOLOGY RIGHTS related to LICENSED
      SUBJECT MATTER developed at UNTHSC.

            

    

     

    
      	
              B.

            	
              UNTHSC
      desires to have the LICENSED SUBJECT MATTER developed in the LICENSED
      FIELD and used for the benefit of LICENSEE, UNTHSC, the
      inventor(s), and the public as outlined in UNTHSC's Intellectual Property
      Policy.

            

    

     

    
      	
              C.

            	
              LICENSEE
      wishes to obtain a license from UNTHSC to practice LICENSED SUBJECT
      MATTER.

            

    

     

    NOW,
THEREFORE, in consideration of the mutual covenants and promises herein
contained, the parties agree as follows:

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

    
      I.
EFFECTIVE
DATE

    

     

    
      	
              1.1

            	
              This
      AGREEMENT is effective as of the date written above ("EFFECTIVE DATE"),
      which is the date fully executed by all
parties.

            

    

     

    
      II.
DEFINITIONS

    

     

    
      	
               
      

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

            

    

     

    
      	
              2.1

            	
              AFFILIATE means any
      business entity more than fifty percent (50%) owned by LICENSEE, any
      business entity which owns more than fifty percent (50%) of
      LICENSEE,  or any business entity that is more than fifty
      percent (50%) owned by a  business entity that owns more than
      fifty percent (50%) of LICENSEE.

            

    

     

    
      	
              2.2

            	
              LICENSED FIELD means
      human and animal use.

            

    

     

    
      	
              2.3

            	
              LICENSED PRODUCTS means
      any product or service sold by LICENSEE, its AFFILIATES or its
      sublicensees comprising LICENSED SUBJECT MATTER pursuant to this
      AGREEMENT.

            

    

     

    
      	
              2.4

            	
              LICENSED SUBJECT MATTER means
      inventions and discoveries covered by PATENT RIGHTS or TECHNOLOGY RIGHTS
      within the LICENSED FIELD.

            

    

     

    
      	
              2.5

            	
              LICENSED TERRITORY means
      worldwide.

            

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    
      	
              2.6

            	
              NET SALES means the
      gross revenues received by LICENSEE, its AFFILIATES, or its sublicensees
      from a SALE less sales discounts actually granted, sales and/or use taxes
      actually paid, import and/or export duties actually paid, outbound
      transportation actually prepaid or allowed, and amounts actually allowed
      or credited due to returns (not exceeding the original billing or invoice
      amount), all as recorded by LICENSEE in LICENSEE’s official books and
      records in accordance with generally accepted accounting practices and
      consistent with LICENSEE’s published financial statements and/or
      regulatory filings with the United States Securities and Exchange
      Commission. In the event of a SALE of a COMBINATION PRODUCT, the parties
      shall work together in good faith to determine what portion of resulting
      gross revenues shall be used for determining NET SALES based on the value
      added to the price such COMBINATION PRODUCT by LICENSED SUBJECT MATTER
      relative to value added by other therapeutically active ingredients or
      other proprietary technology or information. For purposes of this Section
      2.6, the term "COMBINATION PRODUCT' means any LICENSED PRODUCT that
      contains at least one other therapeutically active ingredient or, in the
      case of a service, at least one other proprietary
    technology.

            

    

     

    
      	
              2.7

            	
              PATENT RIGHTS means
      UNTHSC's rights in the information or discoveries described in invention
      disclosures, or claimed in patents and/or patent applications, whether
      domestic or foreign, as identified in Exhibit 1 attached hereto, and all
      divisional, continuations, continuations-in-part (to the extent
      claims of such continuations-in-part are entitled to claim priority to the
      aforesaid patents and/or patent applications identified in Exhibit 1),
      reissues, reexaminations, or extensions of the patents and/or
      patent applications identified in Exhibit 1, and any letters patent,
      domestic or foreign that issue
thereon.

            

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    
      	
              2.8

            	
              PHASE I
      STUDY means: (a) that portion of the drug development and
      review process which provides for the initial introduction of an
      investigational new drug into human subjects, as more specifically
      defined by the rules and regulations of the FDA, including 21 C.F.R.
      § 312.21 or any future revisions or substitutes therefor; or (b) a
      similar clinical trial in any national jurisdiction other than the
      United States.

            

    

     

    
      	
              2.9

            	
              PHASE 2 STUDY means: (a)
      that portion of the drug development and review process which provides for
      early controlled clinical studies conducted to obtain preliminary data on
      the effectiveness of investigational new drug for particular indication,
      as more specifically defined by the rules and regulations of the FDA,
      including 21 C.F.R. § 312.21 or any future revisions or substitutes
      therefor: or (b) a similar clinical trial in any national jurisdiction
      other than the United States.

            

    

     

    
      	
              2.10

            	
              PHASE 3 STUDY means (a)
      that portion of the drug development and review process in which expanded
      clinical studies are conducted to gather the additional information about
      effectiveness and safety that is needed to evaluate the overall
      benefit-risk relationship of an investigational new drug, as more
      specifically defined by the rules and regulations of the FDA, including 21
      C.F.R. § 312.21 or any future revisions or substitutes therefor;
      or (b) a similar clinical trial in any national jurisdiction other
      than the United States.

            

    

     

    
      	
              2.11

            	
              REGULATORY APPROVAL
      means the FDA approval necessary for the SALE of a LICENSED PRODUCT
      in the United States.

            

    

     

    
      	
              2.12

            	
              SALE or SOLD means the
      transfer or disposition of a LICENSED PRODUCT for value to a party other
      than LICENSEE or an AFFILIATE.

            

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    
      	
              2.13

            	
              TECHNOLOGY RIGHTS means UNTHSC's rights in
      any technical information, know-how, processes, procedures, compositions,
      devices, methods, formulae, protocols, techniques, software, designs,
      drawings or data created by the inventor(s) listed in Exhibit
      1 before the EFFECTIVE DATE, whether or not they are claimed in
      PATENT RIGHTS but that are necessary for practicing PATENT
      RIGHTS.

            

    

     

    
      	
              2.14

            	
              IMPROVEMENT PATENTS
      means patents and patent applications covering inventions in the
      LICENSED FIELD that are (i) conceived at UNTHSC by any of the inventors of
      the Patent Rights within two and a half years of the EFFECTIVE DATE,
      the making, use, sale, importation or other practice of which would
      infringe one or more pending or issued claims of the then-existing
      LICENSED SUBJECT MATTER, and (ii) owned or controlled by UNTHSC and not
      subject to any pre-existing third party
  obligations.

            

    

     

    
      III.
LICENSE

    

     

    
      	
              3.1

            	
              UNTHSC hereby
      grants to LICENSEE a royalty-bearing, exclusive license under LICENSED
      SUBJECT MATTER to manufacture, have manufactured, use, import, offer to
      sell and/or sell LICENSED PRODDUCTS within LICENSED TERRITORY for use
      within LICENSED FIELD. This grant is subject to Sections 14.2 and
      14.3 hereinbelow, the payment by LICENSEE to UNTHSC of all consideration
      as provided herein, the timely payment of all amounts due under any
      related sponsored research agreement between UNTHSC and LICENSEE
      in effect during this AGREEMENT, and is further subject to
      the following rights retained by UNTHSC
to:

            

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (a)

            	
              Publish the
      general scientific findings from research related to LICENSED
      SUBJECT MATTER, subject to the terms of ARTICLE XI-Confidential
      Information and Publication;
and

            

    

     

    
      	
               
      

            	
              (b)

            	
              Use
      LICENSED SUBJECT MATTER for non-commercial research, non-commercial
      patient care, teaching and other educationally-related purposes. Use
      LICENSED SUBJECT MATTER in clinical trials and other research involving
      patients shall be considered non-commercial research or non-commercial
      patient care provided that UNTHSC does not sell such LICENSED SUBJECT
      MATTER to said patients.

            

    

     

    
      	
              3.2

            	
              LICENSEE
      may extend the license granted herein or assign this AGREEMENT to any
      AFFILIATE provided that the AFFILIATE consents in writing to be bound by
      this AGREEMENT to the same extent as LICENSEE.  LICENSEE agrees
      to deliver such contract to UNTHSC within thirty (30) calendar days
      following execution thereof.

            

    

     

    
      	
              3.3

            	
              LICENSEE
      may grant sublicenses under LICENSED SUBJECT MATTER consistent with the
      terms of this AGREEMENT provided that LICENSEE is responsible for its
      sublicensees relevant to this AGREEMENT, and for diligently collecting all
      amounts due LICENSEE from sublicensees. If a sublicensee pursuant hereto
      becomes bankrupt, insolvent or is placed in the hands of a receiver or
      trustee. LICENSEE, to the extent allowed under applicable law and in a
      timely manner, agrees to use its best reasonable efforts to collect all
      consideration owed to LICENSEE and to have the sublicense agreement
      confirmed or rejected by a court of proper
  jurisdiction.

            

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    
      	
              3.4

            	
              LICENSEE
      must deliver to UNTHSC a true and correct copy of each sublicense granted
      by LICENSEE, and any modification or termination thereof, within thirty
      (30) calendar days after execution, modification, or
      termination.

            

    

     

    
      	
              3.5

            	
              If
      this AGREEMENT is terminated pursuant to ARTICLE XIII-Term and
      Termination, UNTHSC agrees to accept as successors to LICENSEE, existing
      sublicensees in good standing at the date of termination provided that
      each such sublicensee consents in writing to be bound by all of the terms
      and conditions of this AGREEMENT.

            

    

     

    
      IV.
CONSIDERATION,
PAYMENTS AND REPORTS

    

     

    
      	
              4.1

            	
              In
      consideration rights granted by UNTHSC to LICENSEE under this AGREEMENT,
      LICENSEE agrees to pay UNTHSC the
following:

            

    

     

    
      	
               
      

            	
              (a)

            	
              All
      reasonable out-of-pocket expenses incurred by UNTHSC in filing,
      prosecuting, enforcing and maintaining PATENT RIGHTS (which, as of the
      EFFECTIVE DATE are estimated to be $12,034), and all such reasonable
      future expenses incurred by UNTHSC, for so long as, and in such countries
      as this AGREEMENT remains in effect. On the six-month anniversary of the
      EFFECTIVE DATE, UNTHSC will invoice LICENSEE for expenses incurred as of
      that time and on a quarterly basis thereafter. The invoiced amounts will
      be due and payable by LICENSEE within thirty (30) calendar days of
      invoice: and

            

    

     

    
      	
               
      

            	
              (b)

            	
              A
      nonrefundable license documentation fee in the amount of fifteen thousand
      dollars ($15,000).  This fee will not reduce the amount of any
      other payment provided for in this ARTICLE IV, and is due and payable
      within thirty (30) calendar days after the AGREEMENT has been fully
      executed by all parties and LICENSEE has received an invoice for the
      amount from UNTHSC; and

            

    

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (c)

            	
              Nonrefundable
      Annual Maintenance Fees and Minimum Annual Royalties due and payable
      according to the following
schedule:

            

    

     

    
      	
               
      

            	
              (1)

            	
              An
      Annual Maintenance Fee of ten thousand dollars ($10,000), due and payable
      within thirty (30) calendar days of the first anniversary of the EFFECTIVE
      DATE and every anniversary occurring thereafter until; (i) the seventh
      anniversary of the EFFECTIVE DATE; (ii) the first SALE; or (iii) issuance
      of a patent for any PATENT RIGHTS (“PATENT”) as set forth in (3) below,
      whichever comes first; and

            

    

     

    
      	
               
      

            	
              (2)

            	
              An
      Annual Maintenance Fee of thirty thousand dollars ($30,000), due and
      payable within thirty (30) calendar days of the seventh anniversary of the
      EFFECTIVE DATE and every anniversary occurring thereafter until the first
      SALE, subject to Sections 4.1(c)(3)-(4),
below;

            

    

     

    
      	
               
      

            	
              (3)

            	
              Subject
      to Sections 4.1(c)(4), below, if a United States PATENT issues, or a
      European Patent issues (and is not challenged within the statutory
      challenge period)  prior to the first SALE or the seventh
      anniversary of the EFFECTIVE DATE, the Annual Maintenance Fee shall be
      increased from ten thousand dollars ($10,000) to fifteen thousand dollars
      ($15,000) per year, due and payable on the anniversary of the EFFECTIVE
      DATE immediately following issuance of the PATENT and every anniversary
      occurring thereafter until: (i) the first SALE; or (ii) the seventh
      anniversary of the EFFECTIVE DATE, whichever comes
  first;

            

    

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (4)

            	
              Notwithstanding
      any provision in Sections 4.1(c)(1)-(3) to the contrary, upon the first
      SALE, the Annual Maintenance Fee shall be converted to a Minimum Annual
      Royalty of seventy-five thousand dollars ($75,000), due and within thirty
      (30) calendar days of the anniversary of the EFFECTIVE DATE immediately
      following the first SALE, and every anniversary reoccurring
      thereafter;

            

    

     

    
      	
               
      

            	
              (5)

            	
              Running
      royalties accrued under Section 4.1(d) and paid to UNTHSC during the one
      year period preceding an anniversary of the EFFECTIVE DATE may be credited
      against the Minimum Annual Royalty due on that anniversary date;
      and

            

    

     

    
      	
               
      

            	
              (d)

            	
              A
      running royalty as follows:

            

    

     

    
      	
               
      

            	
              (1)

            	
              two
      and one half percent (2.5%) of NET SALES less than $250 million for
      LICENSED PRODUCTS covered by an issued
patent;

            

    

     

    
      	
               
      

            	
              (2)

            	
              three
      percent (3%) of NET SALES equal to or greater than $250 million for
      LICENSED PRODUCTS covered by an issued patent;
  and

            

    

     

    
      	
               
      

            	
              (3)

            	
              one
      and one and half percent (1.5%) of NET SALES of LICENSED PRODUCTS not
      covered by an issued patent.

            

    

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

    If
LICENSEE is obligated to pay running royalties to a third party to avoid
infringing such third party's patent rights which dominate UNTHSC'S PATENT
RIGHTS (as documented by a written opinion of an independent, qualified patent
attorney, a copy of which is provided to UNTHSC), LICENSEE may reduce the
running royalty due UNTHSC by one half of the running royalty rate being paid to
such third party, provided, however, the running royalty rate due UNTHSC will
not be reduced to less than two percent (2%) of NET SALES of LICENSED PRODUCTS
covered by an issued patent or one percent (1%) of NET SALES of LICENSED
PRODUCTS not covered by an issued patent; and

     

    
      	
               
      

            	
              (e)

            	
              The
      following milestone payments, regardless of whether the milestone is
      achieved by LICENSEE, a sublicensee or AFFILIATE, or, in the case of
      milestone 4.1(e)(5), by any of the foregoing, and/or
    UNTHSC.

            

    

     

    
      	
               
      

            	
              (1)

            	
              Ten
      thousand dollars ($10,000) upon dosing the first patient with a LICENSED
      PRODUCT in each PHASE 1 STUDY;

            

    

     

    
      	
               
      

            	
              (2)

            	
              Twenty-five
      thousand dollars ($25,000) upon dosing the first patient with a LICENSED
      PRODUCT in each PHASE 2 STUDY;

            

    

     

    
      	
               
      

            	
              (3)

            	
              Fifty
      thousand ($50,000) upon dosing the first patient with a LICENSED PRODUCT
      in each PHASE 3 STUDY, provided that, if no PATENT has issued at the time
      this milestone is achieved, the amount of the milestone shall be reduced
      from fifty thousand dollars ($50,000) to forty thousand dollars
      ($40,000);

            

    

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (4)

            	
              Four
      hundred thousand dollars ($400,000) upon the first REGULATORY APPROVAL of
      each LICENSED PRODUCT, provided that, if no PATENT has issued in the
      United States or Europe which has claims that cover such LICENSED PRODUCT,
      then such milestone payment shall be delayed until such time as such
      PATENT issues.

            

    

     

    
      	
               
      

            	
              (5)

            	
              Fifteen
      thousand dollars ($15,000) upon issuance of a PATENT in the United States,
      or issuance of a European PATENT with no subsequent challenge to such
      PATENT during the challenge period ;
and

            

    

     

    
      	
               
      

            	
              (6)

            	
              Two
      hundred thousand dollars ($200,000) upon the REGULATORY APPROVAL for each
      subsequent indication other than cancer, of a LICENSED PRODUCT that was
      previously granted REGULATORY APPROVAL for an initial indication, provided
      that, if no PATENT that covers such indication has issued at the time this
      milestone is achieved, the amount of the milestone shall be reduced from
      two hundred thousand dollars ($200,000) to one hundred thousand dollars
      ($100,000).

            

    

     

    Each of
the foregoing milestone payments shall be made by LICENSEE to UNTHSC (without
invoice) within thirty (30) calendar days of achieving the milestone event and
shall not reduce the amount of any other payment provided for in this ARTICLE
IV; and

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (f)

            	
              The
      following percentages of all non-royalty consideration received by
      LICENSEE from any sublicensee pursuant Sections 3.3 and 3.4 hereinabove,
      including but not limited to up-front payments, marketing, distribution,
      franchise, option, license, or documentation fees, research money not
      dedicated to LICENSED PRODUCTS, and development money not dedicated to the
      preclinical or clinical development of specific LICENSED PRODUCTS, bonus
      and milestone payments and equity securities; (payments required to be
      used for preclinical or clinical development of specific LICENSED PRODUCTS
      shall not be included in the non royalty
      consideration.  Likewise, payments made to LICENSEE in
      consideration of an investment in all or part of the equity securities of
      LICENSEE, shall not be included in the non royalty consideration so long
      as such equity investment is made in an arms length transaction for fair
      market value.

            

    

     

    
      	
               
      

            	
              (1)

            	
              twenty-five
      percent (25%) of all non-royalty consideration if the sublicense is
      executed before the initiation of a PHASE 2 STUDY;
  and

            

    

     

    
      	
               
      

            	
              (2)

            	
              twenty
      percent (20%) of all non-royalty consideration if the sublicense is
      executed on or after the initiation of a PHASE 2 STUDY;
  and

            

    

     

    
      	
               
      

            	
              (g)

            	
              This
      AGREEMENT may be assigned in accordance with the provisions of Section
      12.1 subject to the payment to UNTHSC of a one hundred thousand dollar
      ($100,000) assignment fee prior to the assignment. In the event the
      assignment fee is not paid prior to the assignment, said assignment shall
      be void.

            

    

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

    
      	
              4.2

            	
              Unless
      otherwise provided, all such payments are payable quarterly within thirty
      (30) days, after finalization of the financial statements for the quarters
      ended March 31, June 30, September 30, and December 31 of each year during
      the term of this AGREEMENT or within sixty (60) days after March 31, June
      30, September 30, and December 31of each year during the term of this
      AGREEMENT (whichever is earlier), at which time LICENSEE wil1 also deliver
      to UNTHSC a true and accurate report, giving such particulars of the
      business conducted by LICENSEE, its AFFILIATES and its sublicensees, if
      any exist, during the preceding three (3) calendar months under this
      AGREEMENT as necessary for UNTHSC to account for LICENSEE's payments
      hereunder. This report will include pertinent data, including, but not
      limited to:

            

    

     

    
      	
               
      

            	
              (a)

            	
              the
      accounting methodologies used to account for and calculate the items
      included in the report and any differences in such accounting
      methodologies used by LICENSEE, its AFFILIATES and sublicensees since the
      previous report; and

            

    

     

    
      	
               
      

            	
              (b)

            	
              a
      list of LICENSED PRODUCTS under preclinical development or produced by
      LICENSEE, its AFFILIATES and sublicensees for the three (3) preceding
      calendar months; and

            

    

     

    
      	
               
      

            	
              (c)

            	
              the
      total quantities of LICENSED PRODUCTS produced by LICENSEE, its AFFILIATES
      and sublicensees; and

            

    

     

    
      	
               
      

            	
              (d)

            	
              the
      total SALES by LICENSEE, its AFFILIATES and sublicensees;
    and

            

    

     

    
      	
               
      

            	
              (e)

            	
              the
      calculation of NET SALES; and

            

    

     

    
      	
               
      

            	
              (f)

            	
              the
      royalties so computed and due UNTHSC and/or minimum and royalties;
      and

            

    

     

    
      	
               
      

            	
              (g)

            	
              all
      consideration received from each sublicensee or assignee and payments due
      UNTHSC; and

            

    

     

    
      	
               
      

            	
              (h)

            	
              all
      other amounts due UNTHSC
herein.

            

    

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

    Simultaneously
with the delivery of each such report, LICENSEE agrees to pay UNTHSC the amount
due; if any, for the period of such report. These reports are required even if
no payments are due.

     

    
      	
              4.3

            	
              During
      the term of this AGREEMENT and for one (1) year thereafter, LICENSEE
      agrees to keep complete and accurate records of its, its AFFILIATES’ and
      its sublicensees' SALES and NET SALES in sufficient detail to enable the
      royalties and other payments due hereunder to be determined. LICENSEE
      agrees to permit UNTHSC or its representatives, at UNTHSC’s expense, to
      periodically examine upon reasonable notice LICENSEE's books, ledgers, and
      records during regular business hours for the purpose of and to the extent
      to necessary to verify any report required under this AGREEMENT. If any
      amounts due UNTHSC are determined to have been underpaid in an amount
      equal to or greater than five percent (5%) of the total amount due during
      the period so  examined, then LICENSEE will pay the cost of the
      examination plus accrued interest at the lesser of: (1) highest allowable
      rate: or (2) the prime rate plus two
percent.

            

    

     

    
      	
              4.4

            	
              Within
      thirty (30) calendar days following each anniversary of the EFFECTIVE
      DATE, LICENSEE will deliver UNTHSC a written progress report as to
      LICENSEE’s and any sublicensee's efforts and accomplishments during the
      preceding year  in diligently commercializing LICENSED SUBJECT
      MATTER in the LICENSED TERRITORY and LICENSEE's and sublicensees'
      commercialization plans for the upcoming
year.

            

    

    
      
         

      

      
        14

        
          

        

      

      
         

      

    

    
      	
              4.5

            	
              All
      amounts payable hereunder by LICENSEE will be paid in United States funds
      without deductions for taxes, assessments, fees, or charges or any kind
      unless required by the laws of the jurisdiction where sales are
      made.  In the event that the laws of the jurisdiction in which
      sales are made limit the repatriation of funds or the conversion into US
      currency, LICENSEE shall use commercially diligent efforts to repatriate
      all funds owing to UNTHSC, and shall, in all cases, repatriate funds owed
      to UNTHSC in equal proportion to any amounts belonging to LICENSEE which
      are repatriated from such jurisdiction.  Checks are to be made
      payable to The University of North Texas Health Science Center, and sent
      by United States mail to 3500 Camp Bowie Blvd. Fort Worth, Texas
      76107-299, Attention: Technology Transfer & Commercialization , and
      referencing the title and EFFECTIVE DATE of AGREEMENT and type of payment
      (e.g., license documentation fee, milestone payment, royalty [including
      applicable patent/application identified UNTHSC reference number and
      patent number or application serial number], or maintenance fee,
      etc.).

            

    

    
       

      V.
IND
AND SPONSORED RESEARCH

    

     

    
      	
              5.
      1

            	
              LICENSEE
      shall use commercially diligent efforts to file an Investigational New
      Drug Application (“IND") with the FDA for a LICENSED
    PRODUCT.

            

    

     

    
      	
              5.2

            	
              In
      addition to the consideration set forth in ARTICLE IV, and the
      commercially diligent efforts set forth in 5.1 above, LICENSEE shall spend
      at least $250,000.00 towards such preclinical studies, provided that such
      expenditures not include compensation of employees of, or consultants to
      LICENSEE or standard operational overhead costs of LICENSEE such as
      facilities and administrative expenses.  Of the $250,000
      obligation, at least $100,000 shall be funded within 18 months of the
      EFFECTIVE DATE, and an aggregate total of at least $200,000 shall be
      funded within two and a half years of the EFFECTIVE
  DATE.

            

    

    
      
         

      

      
        15

        
          

        

      

      
         

      

    

    
      	
              5.3

            	
              If
      LICENSEE desires to sponsor research for or related to the LICENSED
      SUBJECT MATTER, and particularly where LICENSEE receives payments for
      sponsored research pursuant to a sublicense under this AGREEMENT, LICENSEE
      (a) will notify UNTHSC in writing of all opportunities to conduct this
      sponsored research (including clinical trials, if applicable), (b) will
      solicit research and/or clinical proposals from UNTHSC for this purpose.
      and (c) will give good faith consideration to funding the proposals at
      UNTHSC.  Any such sponsored research will be governed by a
      separate, written agreement between the
parties.

            

    

     

    
      VI.
PATENTS
AND INVENTIONS

    

     

    
      	
              6.1

            	
              If
      after consultation with LICENSEE both parties agree that a new patent
      application should be filed for LICENSED SUBJECT MATTER or IMPROVEMENT
      PATENTS, UNTHSC will prepare and file appropriate patent applications,
      through patent counsel selected by UNTHSC and agreeable to LICENSEE, and
      LICENSEE will pay the reasonable cost of searching, preparing, filing,
      prosecuting and maintaining same in the following
      countries:  The United States, Canada, Mexico, The countries of
      the European Union, Japan, Australia, China, South Korea, India, Russia,
      Israel, Brazil, and such other countries as LICENSEE may designate in
      writing to UNTHSC from time to time for a particular patent.  If
      LICENSEE notifies UNTHSC that it does not intend to pay the cost of an
      application in any of the countries set forth above, or if LICENSEE does
      not respond or make a good faith effort to agree with UNTHSC on the
      disposition of rights of the subject invention within 90 days after actual
      written notice, delivered pursuant to the notice provisions of this
      Agreement, then UNTHSC may file such application at its own expense and
      LICENSEE’s rights to such invention under this AGREEMENT shall terminate
      in their entirety.  UNTHSC will provide LICENSEE with a copy of
      the application for which LICENSEE has paid the cost of filing, as well as
      copies of any documents received or filed during prosecution thereof. The
      parties agree that they share a common legal interest to get valid
      enforceable patents and that LICENSEE will keep all privileged information
      pursuant to this Section confidential.  It is intended that
      LICENSEE will interact directly with the selected patent counsel in all
      phases of patent prosecution, such as preparation, office action
      responses, filing strategies for continuation or divisional applications,
      and other related activities. UNTHSC will request that copies of all
      documents prepared by the selected patent counsel be provided to LICENSEE
      for review and comment prior to filing, to the extent practicable under
      the circumstances. At its discretion, UNTHSC may allow LICENSEE to
      instruct patent counsel directly, provided, that (a) UNTHSC will maintain
      final authority in all decisions regarding the prosecution and maintenance
      of the PATENT RIGHTS, (b) UNTHSC may revoke this authorization to instruct
      patent counsel directly at any time, and (c) the patent counsel remains
      counsel to UNTHSC with appropriate contracts, engagement letters and/or
      conflict waivers in effect, as necessary. UNTHSC reserves in its
      discretion the ability to change patent counsel and to approve or
      disapprove any requested changes by
LICENSEE.

            

    

    
      
         

      

      
        16

        
          

        

      

      
         

      

    

    
      	
              6.2

            	
              Upon
      filing of any IMPROVEMENT PATENTS pursuant to section 6.1 in this
      Agreement, the parties agree to amend Exhibit 1 in this Agreement such
      that PATENT RIGHTS include any such IMPROVEMENT
  PATENTS.

            

    

     

    
      VII.
INFRINGEMENT
BY THIRD PARTIES

    

     

    
      	
              7.1

            	
              LICENSEE,
      at its expense, must enforce any patent exclusively licensed hereunder
      against infringement by third parties and is entitled to retain recovery
      from such enforcement as set forth herein. After reimbursement of
      LICENSEE’s reasonable legal costs and expenses related to such recovery,
      LICENSEE agrees to pay UNTHSC either:  (a) the royalty detailed
      in Section 4.1(d) for any monetary recovery that is for sales of LICENSED
      PRODUCTS lost due to the infringement and related punitive damages; or (b)
      twenty five percent (25%) of reasonable royalties awarded and related
      punitive damages in any monetary recovery in which the award is for
      reasonable royalties. LICENSEE must notify UNTHSC in writing of any
      potential infringement within thirty (30) calendar days of knowledge
      thereof.  If LICENSEE does not file suit against or enter into a
      sublicense with a substantial infringer within six (6) months of knowledge
      thereof, then UNTHSC may, at its sole discretion, enforce any patent
      licensed hereunder on behalf of itself and LICENSEE, with UNTHSC retaining
      either:  (a) two times the royalty detailed in Section 4.1(d)
      for any monetary recovery that is for sales of LICENSED PRODUCTS lost due
      to the infringement and related punitive damages; or (b) fifty percent
      (50%) of reasonable royalties awarded and related punitive damages in any
      monetary recovery in which the award is for reasonable royalties. UNTHSC
      shall not settle any such action upon terms which render the license
      granted pursuant to this AGREEMENT non-exclusive or would otherwise be
      incompatible with the terms of this AGREEMENT without the written consent
      of LICENSEE.

            

    

    
      
         

      

      
        17

        
          

        

      

      
         

      

    

    
      	
              7.2

            	
              In
      any suit or dispute involving an infringer, the parties agree to cooperate
      fully with each other. At the request and expense of the party bringing
      suit, the other party will permit access during regular business hours, to
      all relevant personnel, records, papers, information, samples, specimens,
      and the like in its possession.

            

    

     

    
      VIII.
PATENT
MARKING

    

     

    
      	
              8.1

            	
              LICENSEE
      agrees that all packaging containing individual LICENSED PRODUCT(S).
      documentation therefor, and. when possible, actual LICENSED PRODUCT(S)
      sold by LICENSEE, AFFILIATES, and/or sublicensees of LICENSEE will be
      permanently and legibly marked with the number of any applicable patent(s)
      licensed hereunder in accordance with each country's patent laws,
      including Title 35, United States
Code.

            

    

     

    
      IX.
INDEMNIFICATION
AND INSURANCE

    

     

    
      	
              9.1

            	
              LICENSEE
      agrees to hold harmless and indemnify UNTHSC, its Regents, officers,
      employees, students and agents from and against any claims, demands, or
      causes of action whatsoever, costs suit and reasonable attorney's fees,
      including without limitation, those costs arising on account of any injury
      or death of persons or damage to property caused by, or arising out of, or
      resulting from, the exercise or practice of the rights granted hereunder
      by LICENSEE, its officers, its AFFILIATES or their officers, employees,
      agents or representatives.  In any action brought by a third
      party against UNTHSC for an indemnified claim, subject to the statutory
      duties of the Texas Attorney General LICENSEE shall control the defense of
      such action, and subject to the statutory duties of the Texas Attorney
      General shall be responsible for selection of counsel and all aspects of
      the action.  With UNTHSC’s consent, which will not unreasonably
      be withheld or delayed, LICENSEE shall have the right to settle any such
      claim with the third party claimant in any manner which would not impose
      monetary liability on UNTHSC not reimbursed by LICENSEE’s indemnity
      obligations, or which would require an explicit admission of culpability
      by UNTHSC.  The parties understand and agree that the limitation
      of damages in section 9.2 shall not apply to any claim under this
      section.

            

    

    
      
         

      

      
        18

        
          

        

      

      
         

      

    

    
      	
              9.2

            	
              Except
      for indemnified claims under section 9.1 above, in no event shall either
      party be liable for any indirect, special, consequential or punitive
      damages (including, without limitation, damages for loss of profits or
      expected savings or other economic losses, or for injury to persons or
      property) arising out of, or in connection with, this AGREEMENT or its
      subject matter, regardless of whether that party knows or should know of
      the possibility or such damages.

            

    

     

    
      	
              9.3

            	
              Beginning
      at the time when any LICENSED SUBJECT MATTER is being distributed or sold
      for human use (including for purpose of obtaining regulatory approvals) by
      LICENSEE, an AFFILIATE, or by a sublicensee, LICENSEE shall, at its sole
      cost and expense, procure and maintain commercial general liability
      insurance in amounts not less than two million dollars ($2,000,000) per
      incident and two million dollars ($2,000,000) annual aggregate, and
      LICENSEE shall use reasonable efforts to have UNTHSC, its Regents,
      officers, employees, students and agents named as additional insureds.
      Such commercial general liability insurance shall provide: (i) product
      liability coverage: (ii) broad form contractual liability coverage
      LICENSEE's indemnification under this AGREEMENT and (iii) coverage for
      litigation costs. The minimum amounts of insurance coverage required
      herein shall not be construed to create limit of LICENSEE's liability with
      respect to its indemnification under this AGREEMENT.  Prior to
      the time when any LICENSED SUBJECT MATTER is being distributed or sold for
      human use, LICENSEE shall purchase such insurance as it deems necessary
      for LICENSEE’s purposes, provided, however, that in connection with any
      commercial general liability insurance policy acquired by LICENSEE,
      LICENSEE shall use reasonable efforts to have UNTHSC, its Regents,
      officers, employees, students and agents named as additional insureds on
      such policy.

            

    

    
      
         

      

      
        19

        
          

        

      

      
         

      

    

    
      	
              9.4

            	
              LICENSEE
      shall provide UNTHSC with written evidence of such insurance within thirty
      (30) calendar days of its procurement.  Additionally, LICENSEE
      shall provide UNTHSC with written notice at least fifteen (15) calendar
      days prior to the cancellation, non-renewal or material change in such
      insurance.

            

    

     

    
      	
              9.5

            	
              LICENSEE
      shall maintain such commercial general liability insurance beyond the
      expiration or termination of this AGREEMENT during: (i) the period that
      any LICENSED SUBJECT MATTER developed pursuant to this AGREEMENT is being
      commercially distributed sold by LICENSEE, an AFFILIATE or by a
      sublicensee or agent of LICENSEE; and (ii) the two (2) year period
      immediately alter such period.

            

    

    
      
         

      

      
        20

        
          

        

      

      
         

      

    

    
      X.
USE
OF UNTHSC'S NAME

    

     

    10.1           LICENSEE
will not use the name of (or the name of any employee of) UNTHSC in any
advertising, promotional or sales literature, on its Web site, without the
advance express written consent of UNTHSC; notwithstanding the LICENSEE may
disclose the existence of this AGREEMENT and the fact that UNTHSC is the
Licensor under this AGREEMENT for the purposes of raising capital, and LICENSEE
may use the name of (or name employee of) UNTHSC in routine business
correspondence or as needed in appropriate regulatory submissions without
express written consent.

     

    
      XI.
CONFIDENTIAL
INFORMATION AND PUBLICATION

    

     

    
      	
              11.1

            	
              Subject
      to LICENSEE’s rights in 11.2 below, UNTHSC and LICENSEE each agree that
      all information contained in documents marked "confidential" and forwarded
      to by the other (i) are to be received in strict confidence, (ii) will be
      used only for the purposes of this AGREEMENT, and (iii) will not be
      disclosed by the recipient party (except as required by law or court
      order), its agents or employees without the prior written consent of the
      disclosing party, except to the extent that the recipient party can
      establish by competent written proof that such
  information:

            

    

     

    
      	
               
      

            	
              (a)

            	
              was
      in the public domain at the time of disclosure;
  or

            

    

     

    
      	
               
      

            	
              (b)

            	
              later
      became of the public domain through no act or omission of the recipient
      party, its employees, agents, successors or assigns:
  or

            

    

     

    
      	
               
      

            	
              (c)

            	
              was
      lawfully disclosed to the recipient party by a third party having the
      right to disclose it; or

            

    

    
      
         

      

      
        21

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (d)

            	
              was
      already known by the recipient party at the time of disclosure;
      or

            

    

     

    
      	
               
      

            	
              (e)

            	
              was
      independently developed by the recipient party without use of the
      disclosing party's confidential information;
or

            

    

     

    
      	
               
      

            	
              (f)

            	
              is
      required by law or regulation to be disclosed, provided that the
      disclosing party gives adequate advance notice to the other of such
      disclosure to allow that party to assert whatever exclusion or exception
      may be available to it under such law or
  regulation.

            

    

     

    
      	
              11.2

            	
              Each
      party's obligation of confidence hereunder will be fulfilled by using at
      least the same degree of care with the disclosing party's confidential
      information as it uses to protect its own confidential information, but
      always at least a reasonable degree of care. This obligation will exist
      while this AGREEMENT is in force and for a period of three (3) years
      thereafter, except for confidential information which may be protected by
      law or regulation, in which case, such information shall be protected as
      long as mandated by such law or regulation requires. LICENSEE shall have
      the right to disclose confidential information which is licensed as part
      of this AGREEMENT as is reasonably required in the development and
      commercialization of LICENSED PRODUCTS so long as such disclosures do not
      have an adverse effect on the PATENT
RIGHTS.

            

    

    
      
         

      

      
        22

        
          

        

      

      
         

      

    

    
      	
              11.3

            	
              UNTHSC
      reserves the right to publish the general scientific findings from
      research related to LICENSED SUBJECT MATTER, with due regard the
      protection of LICENSEE’s confidential information, the protection of
      current and future patent filing opportunities, regulatory and development
      concerns and other reasonable considerations relating to the development
      of LICENSED PRODUCTS pursuant to this AGREEMENT.  UNTHSC will
      submit the manuscript of any proposed publication to LICENSEE at least
      forty five (45) calendar days before such manuscript is submitted for
      consideration by any publication, and LICENSEE shall have the right to
      review and comment upon the publication in order to protect LICENSEE’s
      confidential information. Upon LICENSEE’s request, publication may be
      delayed up to sixty (60) additional calendar days to enable LICENSEE to
      secure adequate intellectual property protection of LICENSEE’s
      confidential information that would otherwise be the
      publication.  In the event that the parties reasonably determine
      that additional research or development work is required or ongoing
      research and development needs to be completed in order to secure
      appropriate intellectual property protection, and that publication will be
      detrimental to obtaining adequate intellectual protection, then, at
      LICENSEE’s request and immediate funding of said additional research and
      development work, UNTHSC shall delay such publication until completion of
      the research or development work and filing of appropriate patents based
      upon such work.

            

    

     

    
      XII.
ASSIGNMENT

    

     

    
      	
              12.1

            	
              Except
      in connection with the sale of substantially all of LICENSEE’s assets to a
      third party, this AGREEMENT may not be assigned by LICENSEE without the
      payment to UNTHSC of the fee set forth in 4.1(g) above and the prior
      written consent by UNTHSC, which will not be unreasonably
      withheld.

            

    

    
      
         

      

      
        23

        
          

        

      

      
         

      

    

    
      XIII.
TERM
AND TERMINATION

    

     

    
      	
              13.1

            	
              Subject
      to Sections 13.3 and 13.4 hereinbelow, the term of this AGREEMENT is from
      the EFFECTIVE DATE to the full end of the term or terms for which PATENT
      RIGHTS have
      not expired, or for a term of (15) years, whichever is
      longer.  If no PATENT has issued and a LICENSED PRODUCT receives
      REGULATORY APPROVAL prior to the end of the term set forth in this Section
      13.1, and the AGREEMENT has not otherwise terminated or expired, then the
      term shall be automatically extended until fifteen (15) years past
      regulatory approval of the LICENSED
PRODUCT.

            

    

     

    
      	
              13.2

            	
              Any
      time after the third anniversary of the EFFECTIVE DATE, UNTHSC has the
      right to terminate this license in each of the following political
      jurisdictions within the LICENSED TERRITORY if LICENSEE, within ninety
      (90) calendar days after receiving written notice from UNTHSC of the
      intended termination, fails to provide written evidence satisfactory to
      UNTHSC that LICENSEE or its sublicensee(s) has commercialized or is
      actively and effectively attempting to commercialize a licensed invention
      in such jurisdiction(s); such jurisdictions are as
      follows:  United States, European Union, Japan, China, India,
      Israel, Australia, Brazil. The following definitions apply to 13.2: (a)
      "commercialized" means having SALES in such jurisdiction; and (b)
      "actively and effectively attempting to commercialize” means having an
      ongoing and active research, development, manufacturing, marketing or
      sales program as appropriate, directed toward obtaining regulatory
      approval, and/or production and/or SALES in any
      jurisdiction.  Such program may allow for sequential
      commercialization in these jurisdictions, (for example, an appropriate
      program may envision an initial US approval, and then subsequent EU and
      Japanese approval based upon the data and regulatory status of the US
      approval.)  LICENSEE is not required to simultaneously pursue
      all such commercialization activities with equal
  resources.

            

    

    
      
         

      

      
        24

        
          

        

      

      
         

      

    

    
      	
              13.3

            	
              Subject
      to any rights herein which survive termination, this AGREEMENT will
      earlier terminate in its entirety:

            

    

     

    
      	
               
      

            	
              (a)

            	
              automatically,
      if LICENSEE becomes bankrupt or insolvent and/or if the business of
      LICENSEE shall be placed in the hands of a receiver, assignee, or trustee,
      whether by voluntary act LICENSEE or otherwise;
  or

            

    

     

    
      	
               
      

            	
              (b)

            	
              upon
      sixty (60) calendar days written notice from UNTHSC, if LICENSEE breaches
      or defaults on the payment or report obligations of ARTICLE IV, or use of
      name obligations of ARTICLE X, unless, before the end of the such sixty
      (60) calendar day notice period, LICENSEE has cured the default or breach
      to UNTHSC’s reasonable satisfaction, and so notifies UNTHSC, stating the
      manner of the cure: or

            

    

     

    
      	
               
      

            	
              (c)

            	
              upon
      thirty (30) calendar days written notice from UNTHSC, if LICENSEE fails to
      fund completion of preclinical studies or file an IND as provided in
      ARTICLE V, unless, before the end of the such thirty (30)-calendar day
      notice period, LICENSEE has cured the default or breach to UNTHSC’s
      reasonable satisfaction, and so notifies UNTHSC, stating the manner of the
      cure: or

            

    

    
      
         

      

      
        25

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (d)

            	
              upon
      ninety (90) calendars days written notice from UNTHSC if LICENSEE breaches
      or defaults on any other obligation under this AGREEMENT, unless, before
      the end of the such ninety (90) calendar-day notice period, LICENSEE has
      cured the default or breach to UNTHSC’s reasonable satisfaction and so
      notifies UNTHSC, stating the manner of the cure;
  or

            

    

     

    
      	
               
      

            	
              (e)

            	
              at
      any time upon written notice from LICENSEE to UNTHSC for any reason or for
      no reason, provided that such notice shall be subject to rescission and
      shall not be effective for 30 days, and during such time, the parties
      shall meet together and discuss in good faith the reasons for such
      notice.  In the event that the AGREEMENT is terminated pursuant
      to this notice, termination shall be subject to any terms herein which
      survive termination; or

            

    

     

    
      	
               
      

            	
              (f)

            	
              if
      Section 13.2 is invoked, in which case such termination shall be
      applicable solely to the jurisdiction in question. No termination for
      default of breach under any part of Article XIII shall be effective in the
      event that a party disputes in good faith the grounds for such default or
      breach.  In such event, the dispute shall be resolved as set
      forth in 15.4 and 15.5 below, and termination shall be effective only
      after final resolution of such dispute as set forth in 15.5 below,
      provided that the party found to be in breach or default shall have the
      opportunity to cure such breach or default following such resolution as
      set forth in 13.3(b-d) above.

            

    

     

    
      	
              13.4

            	
              Upon
      termination of AGREEMENT:

            

    

     

    
      	
               
      

            	
              (a)

            	
              nothing
      herein will be construed to release either party of any obligation
      maturing prior to the effective date of the termination;
    and

            

    

    
      
         

      

      
        26

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              (b)

            	
              LICENSEE
      covenants and agrees to be bound by the provisions ARTICLES IX
      (Indemnification and Insurance), X (Use of UNTHSC’s Name) and XI
      (Confidential Information and Publication) of this AGREEMENT;
      and

            

    

     

    
      	
               
      

            	
              (c)

            	
              LICENSEE
      may, for a period of one year after the effective date of the termination,
      sell all LICENSED PRODUCTS and parts therefor that it has on hand at of
      termination, if LICENSEE pays the earned royalty thereon and any other
      amounts due pursuant to ARTICLE IV of this AGREEMENT;
  and

            

    

     

    
      	
               
      

            	
              (d)

            	
              Subject
      to Section 13.4(c), LICENSEE agrees to cease and desist any use and all
      SALE of the LICENSED SUBJECT MATTER and LICENSED PRODUCTS upon termination
      of this AGREEMENT.

            

    

     

    
      XIV.
WARRANTY:
SUPERIOR-RIGHTS

    

     

    
      	
              14.1

            	
              Except
      for the rights, if any, of the Government of the United States of America
      as set forth below, UNTHSC represents and warrants its belief that (a) it
      has made inquiry into the inventorship and ownership and it is the owner
      of the entire right, title, and interest in and to LICENSED SUBJECT
      MATTER, (b) it has the sole right to grant licenses thereunder, (c) it has
      not granted licenses thereunder to any other entity that would restrict
      rights granted hereunder, (d) it does not know of any intellectual
      property belonging to UNTHSC which may require a separate license in order
      to commercialize LICENSED PRODUCTS pursuant to this AGREEMENT, (e) it has
      disclosed to LICENSEE all relevant UNTHSC information relating to the
      practice of the TECHNOLOGY RIGHTS and the LICENSED SUBJECT MATTER and has
      not fabricated or withheld information from LICENSEE, (f) it will, upon
      request, provide LICENSEE with any copies of any and all agreements with
      the Government which relate to the LICENSED SUBJECT MATTER, and (g) it has
      made any elections to retain ownership which may be required pursuant to
      any Government interest in the LICENSED SUBJECT
  MATTER..

            

    

    
      
         

      

      
        27

        
          

        

      

      
         

      

    

    
      	
              14.2

            	
              LICENSEE
      understands that the LICENSED SUBJECT MATTER may have been developed under
      funding agreement with the Government of the United States of America
      ("Government") and, if so, that the Government may have certain rights
      relative thereto. This AGREEMENT is explicitly made subject to the
      Government's rights under any such agreement and any applicable law or
      regulation. To the extent that there is a conflict between any such
      agreement, applicable law or regulation and this AGREEMENT, the terms of
      such Government agreement, applicable law or regulation shall prevail. If
      required by law, LICENSEE agrees that LICENSED PRODUCTS used or SOLD in
      the United States will be manufactured substantially in the United States,
      unless a written waiver is obtained in advance from the
      GOVERNMENT.

            

    

     

    
      	
              14.3

            	
              LICENSEE
      understands and agrees that other than as expressly set forth in 14.1
      above, UNTHSC by this AGREEMENT, makes no representation as to the
      operability or fitness for any use, safety, efficacy, approvability by
      regulatory authorities, time and cost of development, patentability,
      and/or breadth of the LICENSED SUBJECT MATTER.  UNTHSC, by this
      AGREEMENT, also makes no representation as to whether any patent covered
      by PATENT RIGHTS is valid or as to whether there are any patents now held,
      or which will be held, by others or by UNTHSC in the LICENSED FIELD, nor
      UNTHSC makes any representation that the inventions contained in PATENT
      RIGHTS do not infringe any other patents now held or that will be held by
      others..

            

    

    
      
         

      

      
        28

        
          

        

      

      
         

      

    

    
      	
              14.4

            	
              LICENSEE,
      by execution hereof, acknowledges, covenants and agrees that LICENSEE has
      not been induced in any way by UNTHSC or employees thereof to enter into
      this AGREEMENT, and further warrants and represents that (a) LICENSEE has
      conducted sufficient due diligence with respect to all items and issues
      pertaining to this AGREEMENT; and (b) LICENSEE has adequate knowledge and
      expertise, or has used knowledgeable and expert consultants, to adequately
      conduct such due diligence, and to accept all risks inherent
      herein.

            

    

     

    
      XV.
GENERAL

    

     

    
      	
              15.1

            	
              THIS
      AGREEMENT constitutes the entire and only agreement between the parties
      for LICENSED SUBJECT MATTER and all other prior negotiations,
      representations, agreements and understandings are superseded
      hereby.  No agreements altering or supplementing the terms
      hereof will be made except by a written document signed by both
      parties.

            

    

     

    
      	
              15.2

            	
              Any
      notice required by this AGREEMENT must be given by prepaid. first class,
      certified mail, return receipt requested, and addressed in the case of
      UNTHSC to:

            

    

     

    The
University of North Texas Health Science Center

    Office
Technology Transfer & Commercialization

    3500 Camp
Bowie Blvd.

    Fort
Worth, Texas 76107

    ATTENTION:
Robert McClain, Ph.D.

    
      
         

      

      
        29

        
          

        

      

      
         

      

    

    or in the
case of LICENSEE to:

    

    SignPath
Pharmaceuticals, Inc.

    1375
California Road

    Quakertown,
PA 18951

    ATTENTION:
Lawrence Helson, MD

     

    AND

    

    SignPath
Pharmaceuticals, Inc.

    5377
Highlands Drive

    Longmont,
CO 80503

    ATTENTION:
Kai P. Larson

     

    or other
addresses as may be given from time to time under the terms this notice
provision.

     

    
      	
              15.3

            	
              LICENSEE
      must comply with all applicable federal, state and local laws and
      regulations in connection with its activities pursuant to this AGREEMENT.
      LICENSEE acknowledges that the LICENSED SUBJECT MATTER is subject to U. S.
      export control jurisdiction. LICENSEE agrees to comply with all applicable
      international and national laws that apply to the LICENSED SUBJECT MATTER,
      including U.S. Export Administration Regulations, as well as end-user,
      end-use, and destination restrictions applied by the United
      States.

            

    

     

    
      	
              15.4

            	
              The
      parties of this AGREEMENT will encourage the prompt and equitable
      settlement of all controversies or claims between the parties. The parties
      agree to negotiate their differences directly and in good faith for a
      period of no less than thirty (30) days after receiving written
      notification of the existence of a dispute. If the dispute is not resolved
      within thirty (30) days after written notification of the existence of a
      dispute, the parties agree to submit their dispute to a licensed attorney
      that is an experienced mediator and is located in Tarrant County, Texas to
      work with them to resolve their differences utilizing non-binding
      mediation. This mediation is a compromise negotiation for purposes of Rule
      408 of the Federal Rules of Evidence and Texas Rules of Evidence and is an
      alternative dispute resolution procedure subject to Section 154.073 of the
      Texas Civil Practice & Remedies Code. If after non-binding mediation
      occurs, the dispute is not resolved, the parties are free to exercise all
      other legal and equitable
right.

            

    

    
      
         

      

      
        30

        
          

        

      

      
         

      

    

    
      	
              15.5

            	
              This
      AGREEMENT will be construed and enforced in accordance with the laws of
      the United States of America and the State of Texas, without regard to its
      conflict of law provisions. Subject to 15.5 below, the Texas State Courts
      of Tarrant County, Texas (or, if there is exclusive federal jurisdiction.
      the United States District Court for the Northern District of Texas) shall
      have exclusive jurisdiction and venue over any dispute arising out of this
      AGREEMENT, and LICENSEE consents to the jurisdiction or such courts;
      however, nothing in this AGREEMENT shall be deemed as a waiver by UNTHSC
      of its sovereign immunity.

            

    

     

    
      	
              15.6

            	
              Failure
      of either party to enforce a right under this AGREEMENT will not act as a
      waiver of rights or the ability to later assert that right relative to the
      particular situation involved.

            

    

     

    
      	
              15.7

            	
              Headings
      included herein are for convenience only and will not be used to construe
      this AGREEMENT.

            

    

     

    
      	
              15.8

            	
              If any part of this
      AGREEMENT is for any reason found to be unenforceable, all other parts
      nevertheless will remain
enforceable.

            

    

    
      
         

      

      
        31

        
          

        

      

      
         

      

    

    

    IN WITNESS WHEREOF, the
parties hereto have caused their duly authorized representative to execute this
AGREEMENT.

     

    
      
        	
                UNIVERSITY OF NORTH TEXAS 

                HEALTH
      SCIENCE CENTER

              	 
      	
                SIGNPATH
      PHARMACEUTICALS, INC.

              
	 
      	 
      	 
      	 
      	 
      
	
                By:

              	
                /s/ Steve Russel

              	 
      	
                By:

              	
                /s/ Lawrence Helson

              
	
                Name:

              	
                Steve
      Russell

              	 
      	
                Name:

              	
                Lawrence
      Helson

              
	
                Title:

              	
                Executive
      Vice President

              	 
      	
                Title:

              	
                CEO
      & President

              
	 
      	
                Finance
      & Administration

              	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                Date:

              	
                9/11/08

              	 
      	
                Date:

              	
                8/28/08

              
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                By:

              	
                /s/ Thomas Yorio

              	 
      	 
      	 
      
	
                Name:

              	
                Thomas
      Yorio

              	 
      	 
      	 
      
	
                Title:

              	
                Executive
      Vice President

              	 
      	 
      	 
      
	 
      	
                Academic
      Affairs & Research

              	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	
                Date:

              	
                9/11/08

              	 
      	 
      	 
      

      

    

    
      
         

      

      
        32

        
          

        

      

      
         

      

    

    EXHIBIT
1

    UNTHSC
Case 2007-10 “FORMULATION OF ACTIVE AGENT LOADED ACTIVATED PLGA NANOPARTICLES
FOR TARGETED CANCER NANO-THERAPEUTICS” Inventors Dr. Jamboor Vishwanatha, Dr.
Arthur Braden, and Erika Kafka.

    
      
         

      

      
        33

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