Document:

2011 Orrstown Financial Services, Inc.

 Exhibit 10.1 
 2011 ORRSTOWN FINANCIAL SERVICES, INC. 
 STOCK INCENTIVE PLAN 

The purpose of the 2011 Orrstown Financial Services, Inc. Stock Incentive Plan (the “Plan”) is to provide (i) designated
officers (including officers who are also directors) and other designated employees of Orrstown Financial Services, Inc., a Pennsylvania corporation (the “Company”), and its subsidiaries, and (ii) non-employee members of the board of
directors of the Company and its subsidiaries, with additional incentive to further the success of the Company by (a) further aligning the interests of the participants with those of the Company’s shareholders; (b) enhancing the
ability of the Company to attract, retain and motivate persons who may be expected to make important contributions to the Company; (c) promoting the alignment of pay with performance through the granting of stock based incentives; and
(d) facilitating an ownership culture in which participants have the opportunity to participate in the value created by the Company. 

Article 1.    Administration 
 1.1    The Committee. The Plan shall be administered and interpreted by a committee (the “Committee”), which shall consist of (i) either the board of directors of the
Company (the “Board”) or (ii) two or more directors appointed by the Board, all of whom (unless the Board determines otherwise) shall be “non-employee directors” of the Board as defined under Rule 16b-3 under the Securities
Exchange Act of 1934 (the “Exchange Act”) and “outside directors” as defined under section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”) and related Treasury regulations. The Board, in its
discretion, may appoint separate committees to administer the Plan with respect to a designated portion of participants (e.g., participants subject to Section 16 of the Exchange Act or Section 162(m) of the Code). If the Board does not
appoint a committee to administer all or any portion of the Plan, then the Board shall be the Committee. 

1.2    Determinations with respect to Grants. The Committee shall have the sole authority to (i) determine the
individuals to whom Grants (as defined in Section 2.1) shall be made under the Plan, (ii) determine the type, size and terms of the Grants to be made to each such individual, (iii) determine the time when the Grants will be made and
the duration of any applicable exercise or restriction period, including the criteria for vesting and the acceleration of vesting, (iv) accelerate the vesting of any Grants and reduce or waive any restrictions on the exercise or vesting of any
Grants, and (v) deal with any other matters arising under the Plan. The Committee may, if it so desires, base any of the foregoing determinations upon the recommendations of management of the Company. 

1.3    Action by the Committee. A majority of the Committee shall constitute a quorum thereof, and the actions of a
majority of the Committee at a meeting at which a quorum is present, or actions unanimously approved in writing by all members of the Committee, shall be actions of the Committee. 

1.4    Delegation. The Committee may appoint one of its members to be chairman and any person, whether or not a
member of the Committee, to be its secretary or agent. Furthermore, the Committee may delegate any ministerial duties in connection with the Plan to one or more officers of the Company. 

1.5    Interpretation of Plan. The Committee shall have full power and authority to administer and interpret the
Plan, to make factual determinations and to adopt or amend such rules, regulations, agreements and instruments for implementing the Plan and for the conduct of its business as it deems necessary or advisable, to waive requirements relating to
formalities or other matters that do not modify the substance of rights of Grantees (as defined in Section 4.2) or constitute a material amendment of the Plan, to correct any defect or supply any omission of the Plan or any Grant Instrument (as
defined in Section 2.2) and to reconcile any inconsistencies in the Plan or any Grant Instrument. The Committee’s interpretations of the Plan and all determinations made or 

  
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actions taken by the Committee pursuant to the powers vested in it hereunder shall be conclusive and binding on all persons having any interests in the Plan or in any awards granted hereunder.
All powers of the Committee shall be exercised in its sole discretion, in the best interest of the Company and in keeping with the objectives of the Plan and need not be uniform as to similarly situated individuals. 

1.6    No Liability. No member of the Committee shall be liable for any act or omission (whether or not negligent)
taken or omitted in good faith, or for the good faith exercise of any authority or discretion granted in the Plan to the Committee, or for any act or omission of any other member of the Committee. 

1.7    Costs. All costs incurred in connection with the administration and operation of the Plan shall be paid by the
Company. Except for the express obligations of the Company under the Plan and under Grants (as defined in Section 2.1) in accordance with the provisions of the Plan, the Company shall have no liability with respect to any Grant, or to any
Grantee or any transferee of shares of Company Stock (as defined in Section 3.1) from any Grantee, including, but not limited to, any tax liability, capital losses, or other costs or losses incurred by any Grantee, or any such transferee.

 Article 2.    Grants 
 2.1    Type of Grants. Incentives under the Plan shall consist of grants of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, deferred
stock units and performance shares (hereinafter collectively referred to as “Grants”). 

2.2    Grant Instruments. All Grants shall be subject to the terms and conditions set forth herein and to those other
terms and conditions consistent with the Plan as the Committee deems appropriate. Each Grant shall be evidenced by a written instrument (the “Grant Instrument”) specifying the number of shares of Company Stock to which it relates and
containing such other terms and conditions as the Committee shall approve that are not inconsistent with the Plan. Grants under a particular section of the Plan need not be uniform as among the grantees. The Committee shall have the authority to
waive any condition of an outstanding Grant or amend an outstanding Grant, provided that an amendment of an existing Grant may not be made without the consent of the Grantee if such amendment would have an adverse effect on the rights of the
Grantee. 
 Article 3.    Shares Subject to the Plan 

3.1    Number of Shares. Subject to anti-dilution adjustments as specified in Section 3.2 below, the sum of
(a) 300,000 shares of the common stock of the Company, no par value per share (the “Company Stock”), plus (b) as of the date of shareholder approval of the Plan but excluding shares reserved with respect to outstanding awards
thereunder (i) the number of remaining shares of Company Stock under the Employee Stock Option Plan of 2000, plus (ii) the number of remaining shares of Company Stock under the Non-Employee Director Stock Option Plan of 2000, are reserved
for delivery under the Plan. Notwithstanding anything in the Plan to the contrary, the maximum aggregate number of shares of Company Stock that shall be subject to Grants made under the Plan to any one individual during any calendar year shall be
50,000. The shares may be authorized but unissued shares of Company Stock or reacquired shares of Company Stock, including shares purchased by the Company on the open market for purposes of the Plan. If and to the extent Grants under the Plan
terminate, expire, or are cancelled, forfeited, exchanged or surrendered without Company Stock being delivered pursuant thereto, or if any shares of Restricted Stock (as defined in Section 7.1) are forfeited, the shares subject to such Grants,
including forfeited shares, shall again be available for purposes of the Plan. 
 3.2    Anti-Dilution
Adjustments. If there is any change in the number or kind of shares of Company Stock outstanding by reason of a stock dividend, recapitalization, stock split, or combination or exchange of shares, or a merger, reorganization or consolidation in
which the Company is the surviving corporation, or a reclassification or by reason of any other extraordinary or unusual events affecting the outstanding Company Stock as a class without the Company’s receipt of consideration, or if the value
of outstanding shares of Company Stock is 

  
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substantially reduced due to the Company’s payment of an extraordinary dividend or distribution, the kind of shares, the maximum number of shares of Company Stock available for Grants, the
maximum number of shares of Company Stock that may be subject to Grants to any one individual under the Plan in any calendar year, the number of shares covered by outstanding Grants, and the price per share or the applicable fair market value of
such Grants shall be equitably adjusted by the Committee to reflect any increase or decrease in the number or kind of issued shares of Company Stock to preclude the enlargement or dilution of rights and benefits under such Grants; provided, however,
that any fractional shares resulting from such adjustment shall be eliminated by rounding any portion of a share equal to .500 or greater up, and any portion of a share equal to or less than .500 down, in each case to the nearest whole number. For
purposes of this Section 3.2, “shares of Company Stock” and “shares” include referenced shares with respect to SARs (as defined in Section 6.1) Deferred Stock Units (as defined in Section 7.2.1) and Performance
Shares (as defined in Section 8.10). The adjustments determined by the Committee shall be final, binding and conclusive. Notwithstanding the foregoing, no adjustment shall be authorized or made pursuant to this Section to the extent that such
authority or adjustment would cause any incentive stock option to fail to comply with Section 422 of the Code. 
 Article
4.    Eligibility for Participation 
 4.1    Eligible Participants. 

4.1.1    All employees of the Company and its present or future subsidiaries (“Employees”),
including Employees who are officers or members of the Board, shall be eligible to participate in the Plan. 

4.1.2    Members of the board of directors of the Company or members of the board of directors of any
subsidiary of the Company, who are not employees of the Company or any of its subsidiaries (“Non-Employee Directors”) also shall be eligible to participate in the Plan and may receive Grants in the discretion of the Committee; provided,
however, that only Employees shall be eligible to receive Incentive Stock Options (as defined in Section 5.1.1). 
 4.1.3    For purposes of the Plan the term “subsidiary” shall mean an entity controlled by the Company directly, or indirectly through one or more intermediaries. 

4.2    Selection of Grantees. The Committee shall select the individuals to receive Grants and determine the number
of shares of Company Stock subject to a particular Grant in such manner as the Committee determines. Any individuals who receive Grants under this Plan shall hereinafter be referred to as “Grantees”. 

Article 5.    Granting of Options 
 5.1    Type of Option and Price. 

5.1.1    The Committee may grant options intended to qualify as “incentive stock options”
within the meaning of Section 422 of the Code (“Incentive Stock Options”) or options which are not intended to so qualify (“Nonqualified Stock Options”) or any combination of Incentive Stock Options and Nonqualified Stock
Options (hereinafter collectively the “Stock Options”), all in accordance with the terms and conditions set forth herein. 
 5.1.2    The purchase price of Company Stock subject to a Stock Option shall be determined by the Committee and shall not be less than 100% of the Fair Market Value (determined in
accordance with Section 5.1.3) of a share of such Stock on the date such Stock Option is granted. 

5.1.3    For purposes of the Plan, if the Company Stock is traded in a public market, then the Fair
Market Value per share shall be, if the principal trading market for the Company Stock is a national securities exchange or The NASDAQ Stock Market, the last reported sale price thereof on the relevant date or (if there were no trades on that date)
the latest preceding date upon which a sale was reported, or, if the 

  
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Company Stock is not principally traded on an exchange or market which reports last sale price data, then the average of the mean between the last reported “bid” and “ask”
prices each day over the five trading days preceding the relevant date, as reported on NASDAQ or, if not so reported, as reported by the applicable customary reporting service or market (including the Over the Counter Bulletin Board or the Pink
Sheets). If the Company Stock is not traded in a public market or subject to reported transactions or quotations as set forth above, the Fair Market Value per share shall be as determined by the Committee; provided, however, that no determination of
Fair Market Value with respect to an Incentive Stock Option shall be inconsistent with Section 422 of the Code or the regulations thereunder. 
 5.2    Option Term. The Committee shall determine the term of each Stock Option; provided, however, that the term of a Stock Option shall not exceed ten years from the date of grant.

 5.3    Exercisability of Options. Stock Options shall become exercisable in accordance with the terms and
conditions determined by the Committee, in its sole discretion. The Committee, in its sole discretion, may accelerate, in whole or in part, the exercisability of any or all outstanding Stock Options at any time for any reason. In addition, all
outstanding Stock Options automatically shall become fully and immediately exercisable upon a Change of Control or Ownership (as defined in Section11.1). 
 5.4    Vesting of Options and Restrictions on Shares. 
 5.4.1    The vesting period for Stock Options shall commence on the date of grant and shall end on the date or dates, determined by the Committee, that shall be specified in the Grant
Instrument. 
 5.4.2    Notwithstanding any other provision of the Plan, except as otherwise
provided by the Committee in the Grant Instrument, all outstanding Stock Options shall become immediately exercisable upon the earliest to occur of the following, if at such time the Grantee is an Employee or a Non-Employee Director: (i) the
Grantee’s death or Disability (as defined in Section 5.6.4), or (ii) the occurrence of a Change of Control or Ownership. 
 5.5    Manner of Exercise. 

5.5.1    A Grantee may exercise a Stock Option which has become exercisable, in whole or in part, by
delivering a duly completed notice of exercise, in such form as is acceptable to the Committee, to the Secretary or other officer of the Company designated by the Committee, with accompanying payment of the option price in accordance with
Section 5.7 below. 
 5.5.2    Unless otherwise provided by the Committee, such notice
may instruct the Company to deliver shares of Company Stock due upon the exercise of the Stock Option to any registered broker or dealer previously approved or designated by the Committee (“Designated Broker”) in lieu of delivery to the
Grantee. The Committee may suspend the ability of a Grantee to exercise a Stock Option through a Designated Broker at any time that the Committee, in its sole discretion, determines appropriate. 

5.6    Termination of Employment or Service. 

5.6.1    General. Except as provided below, a Stock Option may only be exercised while the Grantee is
employed by the Company or a subsidiary of the Company or is serving as a Non-Employee Director of the Company or a subsidiary of the Company. 
 5.6.2    Nonqualified Stock Options. In the event of a Grantee’s termination of employment or service for any reason other than death, Disability or Retirement or following a
Change of Control or Ownership, the Nonqualified Stock Options shall be exercisable only as to those shares that were immediately purchasable on the date of termination and only for a period of three (3) months following termination or for such
other period as the Committee shall establish in its sole discretion. If the Grantee’s termination of employment or service is due to death, Disability or Retirement or following a Change of Control or

  
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Ownership, all Nonqualified Stock Options held by the Grantee shall vest and become immediately exercisable upon such event and shall be thereafter exercisable by the Grantee or the
Grantee’s legal representative or beneficiaries, as applicable, for a period of two (2) years following the date of such event, provided that in no circumstance shall the period extend beyond the expiration of the Nonqualified Stock Option
term set forth in the Grant Instrument. 
 5.6.3    Incentive Stock Options. In the event of
a Grantee’s termination of employment for any reason other than death, Disability or Retirement or following a Change of Control or Ownership, the Grantee’s Incentive Stock Options shall be exercisable only as to those shares that were
immediately purchasable by such Grantee at the date of termination and only for a period of three (3) months following termination. In the event of a termination of a Grantee’s employment due to death, Disability or Retirement or following
a Change of Control or Ownership, all Incentive Stock Options held by such Grantee shall vest and become immediately exercisable and shall thereafter be exercisable by the Grantee or the Grantee’s legal representative or beneficiaries, as
applicable, for a period of two (2) years following the date of such cessation of employment, provided, however, that any such Option shall not be eligible for treatment as an Incentive Stock Option in the event such Option is exercised more
than three (3) months following the date of Grantee’s Retirement or termination of employment following a Change of Control or Ownership; and provided further, that no Option shall be eligible for treatment as an Incentive Stock Option in
the event such Option is exercised more than one (1) year following termination of employment due to Disability; and provided further, in order to obtain Incentive Stock Option treatment for Options exercised by heirs or devisees of a deceased
Grantee, the Grantee’s death must have occurred while employed or within three (3) months of termination of employment. Notwithstanding anything herein to the contrary, in no event shall the period within which an Incentive Stock Option
may be exercised extend beyond the expiration of the Option term set forth in the Grant Instrument. 

5.6.4    Definitions. For purposes of the Plan: (i) the term “Company” shall include
the Company’s subsidiaries; (ii) the term “Disability” or “Disabled” shall mean any physical or mental impairment which qualifies an individual for disability benefits under the applicable long-term disability plan
maintained by the Company, or, if no such plan applies, which would qualify such individual for disability benefits under the long-term disability plan maintained by the Company, if such individual were covered by that plan, or, if no such plan
exists, as determined in good faith by the Committee; and (iii) “Retirement” or “Retired” shall mean a termination of employment which constitutes a “retirement”, whether normal or otherwise, under any applicable
qualified retirement plan maintained by the Company, or, if no such plan is applicable, which would constitute “retirement”, as determined by the Committee, in its sole discretion, or, in the case of a Non-Employee Director, the Grantee
ceases to be such after attaining the age of 65 or such other age as shall be established by the Committee. 

5.7    Payment of Option Price. The Grantee shall pay the option price specified in the Grant Instrument in cash,
including through the broker assisted cashless exercise procedure described in Section 5.5.2. With the approval of the Committee, the Grantee also may pay the option price specified in the Grant Instrument by delivering shares of Company Stock
owned by the Grantee (including Company Stock acquired in connection with the exercise of a Stock Option, subject to such restrictions as the Committee deems appropriate) and having a Fair Market Value on the date of exercise equal to the option
price or through a combination of cash and shares of Company Stock owned by the Grantee. Unless permitted by the Committee, no tendered shares of Company Stock which were acquired by the Grantee pursuant to, or upon the previous exercise of, a Grant
under the Plan, or an award under any other award plan of the Company or its subsidiaries, shall be accepted in payment unless the Grantee has held such shares (without restriction imposed by the applicable plan or award) for at least six months
prior to delivery in payment. Subject to Article 15, the Grantee shall pay the option price and the amount of withholding tax due, if any, at the time of exercise. Shares of Company Stock shall not be issued or transferred upon exercise of a Stock
Option until the option price is fully paid and any required withholding obligations are satisfied. 

  
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 5.8    Limits on Incentive Stock Options. 

5.8.1    Each Incentive Stock Option shall provide that, to the extent that the aggregate Fair Market
Value of the Company Stock on the date of the grant with respect to which Incentive Stock Options are exercisable for the first time by a Grantee during any calendar year under the Plan or any other stock option plan of the Company exceeds $100,000,
then such option as to the excess shall be treated as a Nonqualified Stock Option. 

5.8.2    An Incentive Stock Option shall not be granted to any participant who is not an Employee of
the Company or any “subsidiary” within the meaning of Section 424(f) of the Code. 

5.8.3    An Incentive Stock Option shall not be granted to any Employee who, at the time of grant,
owns stock possessing more than 10 percent of the total combined voting power of all classes of stock of the Company or any “parent” or “subsidiary” of the Company within the meaning of Section 424(e) and (f) of the
Code, unless the option price per share is not less than 110% of the Fair Market Value of Company Stock on the date of grant and the option exercise period is not more than five years from the date of grant. 

5.8.4    No Incentive Stock Option granted under this Plan is transferable expect by will or the laws
of descent and distribution and is exercisable during the Grantee’s lifetime only by the Grantee. 

5.9    Notice of Disposition; Withholding; Escrow. A Grantee of an Incentive Stock Option shall immediately notify
the Company in writing of any sale, transfer, assignment or other disposition (or action constituting a disqualifying disposition within the meaning of Section 421 of the Code) of any shares of Company Stock acquired through exercise of an
Incentive Stock Option, within two (2) years after the grant of such Incentive Stock Option or within one (1) year after the acquisition of such shares, setting forth the date and manner of disposition, the number of shares disposed of and
the price at which such shares were disposed of. The Company shall be entitled to withhold from any compensation or other payments then or thereafter due to the Grantee such amounts as may be necessary to satisfy any withholding requirements of
Federal (including payroll taxes) or state law or regulation and, further, to collect from the Grantee any additional amounts which may be required for such purpose. The Committee may, in its sole discretion, require shares of Company Stock acquired
by an Optionee upon exercise of an Incentive Stock Option to be held in an escrow arrangement for the purpose of enabling compliance with the provisions of this Section 5.9. 

5.10    No ISO Warranty. The Company makes no warranty that Stock Options granted under this Plan that are intended
to qualify as Incentive Stock Options will, in fact, so qualify or that any qualification will not be lost in the future, including by acts or omissions of the Company or the Committee or by other cause. If a Stock Option granted hereunder for any
reason fails for whatever reason to comply with the provisions of Section 422 of the Code, and such failure is not or cannot be cured, such Option shall be a Nonqualified Stock Option. 

5.11    No Repricing; No Automatic Option Grants (Reloads). Without prior approval of the shareholders, the Company
may not: 
 (a)    Cancel a previously granted Stock Option in exchange for cash or a
replacement Grant with a lower (or no) exercise price; 
 (b)    Provide for any automatic
grant of a new Stock Option upon a Grantee’s exercise of any Stock Option granted under the Plan; or 

(c)    Amend a Stock Option to lower the exercise price, except for adjustments required or otherwise
made under Section 3.2 or 10.2, or take any other action that could constitute a repricing. 

  
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 Article 6.    Stock Appreciation Rights 

6.1    General Requirements. The Committee may grant stock appreciation rights (“SARs”) to any Grantee
(i) independently or (ii) in tandem with, any Stock Option, for all or a portion of the applicable Stock Option. Tandem SARs may be granted, either at the time the Stock Option is granted or at any time thereafter while the Stock Option
remains outstanding; provided, however, that in the case of an Incentive Stock Option, such tandem rights may be granted only at the time of the Grant of such Stock Option. Unless the Committee determines otherwise, the base price of each SAR shall
be equal to the greater of (i) the exercise price of the related Stock Option, if any, or (iii) the Fair Market Value of a share of Company Stock as of the date of grant of such SAR. 

6.2    Exercise. 
 6.2.1    No SAR shall be exercisable more than 10 years after the date of its grant. 
 6.2.2    A SAR not granted in tandem with a Stock Option will become exercisable at such time or times, and on such terms and conditions, as the Committee shall specify. Unless the
Committee provides otherwise in the Grant Instrument, the provisions of Article 5 applicable to Nonqualified Stock Options including, without limitation, those related to exercise upon termination of employment or service, shall be applicable to
non-tandem SARs; provided, however, that all such SARs shall become immediately exercisable upon the occurrence of a Change of Control or Ownership of the Company. 

6.2.3    A SAR granted in tandem with a Stock Option will be exercisable only at such time or times,
and to the extent, that the related Stock Option is exercisable and will be exercisable only in accordance with the exercise procedure for the related Stock Option. Upon the exercise of a Stock Option, the SARs relating to the Company Stock covered
by the related Stock Option shall terminate. Upon the exercise of SARs, the related Stock Option shall terminate to the extent of an equal number of shares of Company Stock. 
 6.3    Value of SARs. Upon a Grantee’s exercise of some or all of the Grantee’s SARs, the Grantee shall receive in settlement of such SARs an amount equal to the value of the
stock appreciation for the number of SARs exercised, payable in cash, Company Stock or a combination thereof. The stock appreciation for a SAR is the difference between the base price of the SAR as described in Section 6.1 and the Fair Market
Value of the underlying Company Stock on the date of exercise of such SAR. 
 6.4    Form of Payment. Upon
exercise of an SAR, payment shall be made in the form of shares of Company Stock, valued at their Fair Market Value on the date of exercise, in cash, or in a combination thereof, as the Committee, in its sole discretion, shall determine. Payment by
the Company of SARs shall be subject to withholding of applicable taxes in accordance with Article 14. 
 Article
7.    Restricted Stock and Deferred Stock Units 
 7.1    Restricted Stock. The
Committee may issue or transfer shares of Company Stock to an eligible participant under a Grant (“Restricted Stock”), upon such terms, conditions and restrictions as the Committee deems appropriate. The following provisions are applicable
to Grants of Restricted Stock: 
 7.1.1    Restricted Stock may be issued for cash
consideration or for no cash consideration, at the sole discretion of the Committee. The Committee shall establish conditions under which restrictions, if any, on the transfer of shares of Restricted Stock shall lapse over a period of time or
according to such other criteria as the Committee deems appropriate. The period of time during which the Restricted Stock will remain subject to restrictions will be designated in the Grant Instrument as the “Restriction Period.”

 7.1.2    If the Grantee ceases to be employed by the Company or, in the case of a
Non-Employee Director, to serve or be engaged as such, during a period designated in the Grant Instrument as the Restriction Period, or if other specified conditions are not met, the Grant of Restricted Stock shall terminate

  
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as to all shares covered by the Grant as to which restrictions on transfer have not lapsed and those shares of Restricted Stock must be immediately returned to the Company. The Committee may,
however, in its sole discretion, provide for complete or partial exceptions to this requirement as it deems appropriate, including, without limitation, upon death, Disability or Retirement. 

7.1.3    During the Restriction Period, a Grantee may not sell, assign, transfer, pledge or otherwise
dispose of the shares of Restricted Stock to which such Restriction Period applies except to a Successor Grantee under Article 10. Each certificate for a share of Restricted Stock shall contain a legend giving appropriate notice of the restrictions.
The Grantee shall be entitled to have the legend removed from the stock certificate or certificates covering any of the shares subject to restrictions when all restrictions on such Restricted Stock have lapsed. 

7.1.4    During the Restriction Period, unless the Committee determines otherwise, (i) the
Grantee shall have the right to vote shares of Restricted Stock, and (ii) dividend equivalent shares will accrue on the shares of Restricted Stock, as well as any dividend equivalent shares accrued pursuant to this Section 7.1.4,
representing the right to receive additional shares of Company Stock, or payment in cash of the Fair Market Value thereof, credited as of the applicable dividend payment date, subject to any restrictions deemed appropriate by the Committee. Unless
otherwise provided by the Committee, shares of Company Stock shall be issued or payment in cash of the Fair Market Value thereof shall be made in payment of dividend equivalent shares on the date when all of the restrictions shall have lapsed on the
Restricted Stock as to which such dividend equivalent shares were accrued. The Grantee shall have the right, subject to any restrictions then existing as to the Restricted Stock, to receive the proceeds of the Restricted Stock in any stock split,
reverse stock split, recapitalization or other change in the capital structure of the Company, which proceeds shall automatically and without need for any other action become Restricted Stock and be delivered as provided in Article 16. 

7.1.5    Except as provided by Article 16, all restrictions imposed on Restricted Stock shall lapse
upon the expiration of the applicable Restriction Period and the satisfaction of any conditions imposed by the Committee. The Committee may determine, as to any or all Restricted Stock, that all the restrictions shall lapse without regard to any
Restriction Period. All restrictions on all Restricted Stock shall automatically and immediately lapse upon a Change of Control or Ownership. 
 7.2    Deferred Stock Units. 

7.2.1    The Committee may grant a participant the right to receive (i) one or more shares of
Company Stock to be delivered in the future, or (ii) a cash payment equal to the Fair Market Value of one or more shares of Company Stock as of a date in the future (a “Deferred Stock Unit”), as the Committee may determine. Delivery
of the Company Stock or payment of the applicable cash amount, as the case may be, will take place at such time or times, and on such terms and conditions, as the Committee may determine, as set forth in the Grant Instrument. The Committee may
provide at the time of the grant of a Deferred Stock Unit that the stock to be delivered will be Restricted Stock pursuant to Section 7.1. The Committee may at any time accelerate the time at which delivery of all or any part of the Company
Stock or payment of the applicable cash amount will take place; provided, however, that unless otherwise provided by the Committee at the time of grant, the time of delivery of the Company Stock or payment of the applicable cash amount will
automatically accelerate to the date of a Change of Control or Ownership. 

7.2.2    Grantees of Deferred Stock Units shall have no voting rights with respect to shares of
Company Stock underlying the Deferred Stock Units unless and until such shares are reflected as issued and outstanding shares on the Company’s stock ledger and, until such time, may not sell, assign, transfer, pledge or otherwise dispose of
Deferred Stock Units or the underlying shares of Company Stock. 
 7.2.3    Unless other
provided by the Committee, shares of Company Stock underlying Deferred Stock Units, as well as any dividend equivalent shares accrued pursuant to this Section 7.2.3 shall, until paid or 

  
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distributed to a Grantee, accrue dividend equivalent shares, which shall be credited as of the applicable dividend payment date. Unless otherwise provided by the Committee, shares of Company
Stock shall be issued or payment in cash of the Fair Market Value thereof shall be made in payment and satisfaction of dividend equivalent shares on the date when the Deferred Stock Units as to which such dividend equivalent shares are accrued are
paid or shares of Company Stock are distributed in satisfaction thereof. 
 7.3    Tax Withholdings.
Delivery of Company Stock pursuant to this Article 7 shall be subject to withholding of applicable taxes in accordance with Article 15. 

Article 8.    Performance Shares 
 8.1    Grant. The Committee may grant Performance Shares to such participants as it may select in its sole discretion, on such terms and conditions as the Committee shall determine, in
its discretion, as expressly set forth in, or as required by, this Plan and the Grant Instrument. 

8.2    Performance Goals. The Committee shall set Performance Goals which, depending on the extent to which they are
met during a Performance Period, will determine the number of Performance Shares that will be delivered to the Recipient at the end of the Performance Period. The Performance Goals shall be set at threshold, target and maximum performance levels,
with the number of Performance Shares to be delivered tied to the degree of attainment of the various performance levels under the various Performance Goals during the Performance Period. No payment shall be made with respect to a Performance Share
if the threshold performance level is not attained. 
 8.3    Beneficial Ownership. The Grantee of any
Performance Shares shall not have any beneficial ownership in any Performance Shares subject to such Grant or any shares of Company Stock underlying such Performance Shares unless and until such shares are reflected as issued and outstanding on the
Company’s stock ledger and, until such time, may not sell, assign, transfer, pledge or otherwise dispose of Performance Shares or any shares underlying Performance Shares. 

8.4    Determination of Achievement of Performance Goals. The Committee shall, promptly after the date on which the
necessary financial, individual or other information for a particular Performance Period becomes available, determine and certify the degree to which each of the Performance Goals have been attained. 

8.5    Payment of Performance Shares. After the applicable Performance Period has ended, the Grantee of Performance
Shares shall be entitled to payment based on the performance level attained with respect to the Performance Goals applicable to the Grant of Performance Shares. Unless deferred in accordance with Section 8.9, Performance Shares shall be settled
as soon as practicable after the Committee determines and certifies the degree of attainment of Performance Goals for the Performance Period. The Committee shall have the discretion and authority to make adjustments to any Grant of Performance
Shares in circumstances where, during the Performance Period: (a) a Grantee leaves the Company or any subsidiary and is subsequently rehired; (b) a Grantee transfers between positions with different Performance Goals; (c) a Grantee
transfers to a position not eligible to participate in the Grant; (d) a Grantee becomes eligible, or ceases to be eligible, for another incentive offered by the Company or any subsidiary; (e) a Grantee is on a leave of absence; and
(f) similar circumstances deemed appropriate by the Committee, consistent with the purpose and terms of this Plan, provided, however, that the Company shall not be authorized to increase the amount of any Grant of Performance Shares to a
Covered Employee that would otherwise be payable if the amount was intended to be a Qualified Performance Based Award. 

8.6    Payments to Recipients. Subject to the terms and conditions of the Grant Instrument, payment to a Grantee with
respect to a Grant of Performance Shares may be made (a) in shares of Company Stock, (b) in cash in an amount equal to the Performance Shares’ Fair Market Value on the date the Performance Shares are settled, or (c) any
combination of cash and shares of Company Stock, as the Committee shall determine at any time in its sole discretion. 

  
 A-9

 8.7    Limitation of Rights. A Grantee of a Grant of Performance Shares
is not entitled to any rights as a holder of shares of Company Stock underlying Performance Shares (e.g. voting rights and dividend rights), prior to the receipt of such shares pursuant to the Plan. No dividend equivalent shares will be accrued with
respect to Performance Shares. 
 8.8    Withholding. The Company may withhold in accordance with Article 15
any amounts necessary to collect any withholding taxes upon any taxable event relating to Performance Shares. 

8.9    Deferral of Delivery of Shares or Payout. At the time of a Grant of Performance Shares (or at such earlier or
later time as the Committee determines to be appropriate in light of Code Section 409A) the Committee may permit the Grantee to elect to defer delivery of the shares of Company Stock underlying the Performance Shares, or payment of cash with
respect to such Performance Shares, in accordance with such rules and procedures established by the Committee. Such rules and procedures shall take into account potential tax treatment under Code Section 409A. 

8.10    Definitions. For purposes of the Plan, the following terms shall have the indicated meanings: 

“Covered Employee” has the meaning set forth in Code Section 162(m)(3). 

“Performance Goals” means the pre-established objective performance goals established by the Committee for each Performance
Period. The Performance Goals may be based upon the performance of the Company, of any subsidiary, or a division or unit thereof, or of an individual Grantee, or groups of Grantees, using one or more of the Performance Measures selected by the
Committee. Separate Performance Coals may be established by the Committee for the Company or a subsidiary, or division or unit thereof, or an individual or groups of individuals, and different Performance Measures may be given different weights. The
Performance Goals shall include one or more threshold Performance Goals under which no portion of the Performance Shares shall become vested, be transferred, retained, or the value of which is to be paid as provided by this Plan and the Grant
Instrument, if the threshold goals or goals are not achieved. 
 “Performance Measures” means one or more of the
following criteria, on which Performance Goals may be based, each a “Performance Measure”: (a) return on equity, (b) return on assets, (c) revenues, (d) net income, (e) earnings per share, (f) net operating
profit, (g) non-interest income growth, (h) economic profit, (i) loan growth, (j) deposit growth, (k) stockholder value added or economic value added, (l) stock price or total stockholder return, (m) return on
investment, (n) non-interest income to total revenue ratio, (o) net interest margin, (p) net charge-off ratio, (q) reserve coverage of non-performing loans, (r) market share, (s) productivity ratios, (t) regulatory
compliance, (u) satisfactory internal or external audits, (v) capital and expense management, (w) achievement of risk management objectives, (x) efficiency ratio, (y) the ratio of non-performing assets to total assets and
(z) the ratio of non-performing loans to total loans. Performance Measures may be applied on a pre-tax or post-tax basis, and be based upon the performance of the Company, of any subsidiary, or a division or unit thereof, or of an individual
Grantee or groups of Grantees. Performance Measures may be applied on an absolute basis or in relation to a peer comparison group or index. The Committee may, at time of grant, in the case of a Grant intended to be a Qualified Performance Based
Award and in the case of other Grants, at any time, provide that the Performance Goals for such Grant may include or exclude items to measure specific objectives, such as losses from discontinued operations, extraordinary gains or losses, the
cumulative effect of accounting changes, acquisitions or divestitures, foreign exchange impacts and any unusual nonrecurring gain or loss. 
 “Performance Period” means that period established by the Committee during which the attainment of Performance Goals specified by the Company with respect to a Grant of Performance Shares is to
be measured. A Performance Period may be a 12-month period or a longer or shorter period. 
 “Performance Share” means
the right to receive a share of Company Stock or the Fair Market Value of a share of Company Stock, as the case may be, upon attainment of specified Performance Goals. 

  
 A-10

 “Qualified Performance Based Award” means a Grant to a Covered Employee which is
intended to provide “qualified performance-based compensation” within the meaning of Code Section 162(m). For any Performance Period for which a Grant is intended to be a Qualified Performance Based Award, Performance Goals shall be
established by the Committee no later than 90 days after the beginning of the Performance Period to which the Performance Goals pertain and while the attainment of the Performance Goals is substantially uncertain, and in any event no later than the
date 25% of the Performance Period has elapsed. 
 Article 9.    Minimum Vesting for Full-Value Awards 

9.1    Minimum Vesting Requirements. Except in the case of substitute awards or awards granted as an inducement to
join the Company as a new employee to replace forfeited awards from a former employer, any “full-value” award (generally defined as an award, other than an Option or SAR, that is valued on the basis of Company Stock) granted under the Plan
to an Employee will either (i) be subject to a minimum vesting period of three years (which may include graduated vesting within such three-year period), or one year if the vesting is based on performance criteria other than continued service,
or (ii) be granted solely in exchange for foregoing cash compensation. Notwithstanding the foregoing, the Compensation Committee may permit acceleration of vesting of such awards in the event of the Grantee’s death, Disability or
Retirement, or upon a Change of Control or Ownership. 
 Article 10.    Transferability of Grants 

10.1    Limitation. During a Grantee’s lifetime, only the Grantee may exercise rights under a Grant and Grants
may not be transferred, assigned, pledged or hypothecated in any manner, by operation of law or otherwise, except by will or by the laws of descent and distribution or, with respect to Grants other than Incentive Stock Options, if permitted in any
specific case by the Committee, in its sole discretion. 
 10.2    Successor Grantee. When a Grantee dies,
the representative or other person entitled to succeed to the rights of the Grantee may exercise such rights. A successor Grantee must furnish proof satisfactory to the Company of his or her right to receive the Grant under the Grantee’s will
or under the applicable laws of descent and distribution. 
 Article 11.    Change of Control or Ownership of the Company

 11.1    Change of Control or Ownership. As used herein, a “Change of Control or Ownership”
shall be deemed to have occurred if: 
 (a)    any one person, or more than one person
acting as a group (as determined in 26 CFR 1.409A-3(i)(5)(v)(B)), acquires ownership of Company Stock that, taken together with stock held by such person or group, constitutes more than 50% of the total voting power or total Fair Market Value of
Company Stock then outstanding; 
 (b)    (i) any one person, or more than one person acting
as a group (as determined under 26 CFR 1.409A-3(i)(5)(v)(B)), acquires (or has acquired during the twelve-month period ending on the most recent acquisition by such person or group) ownership of Company Stock possessing 30% or more of the total
voting power of Company Stock or (ii) a majority of the Company’s Board of Directors is replaced during any twelve-month period by directors whose appointment or election is not endorsed by a majority of the Board of Directors prior to the
date of election; or 
 (c)    any one person, or more than one person acting as a group (as
determined under 26 CFR 1.409A-3(i)(5)(v)(B)) acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition by such person or group) assets from the Company that have a total gross fair market value equal
to or more than 40% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. 

  
 A-11

 The existence of any of the foregoing events shall be determined based on objective
standards and in complete accordance with the requirements of Code Section 409A and 26 CFR 1.409A-3(i)(5) so that any accelerated distribution resulting from a Change in Control or Ownership does not result in a violation of Code
Section 409A. 
 11.2    Business Combination Transaction. Any agreement to which the Company or any of
its subsidiaries is a party which provides for any merger, consolidation, share exchange, or similar transaction of the Company with or into another corporation or other association whereby the Company is not to be the surviving or parent
corporation shall provide, without limitation, for the assumption of any outstanding Grants by the surviving corporation or association or its parent and all outstanding Grants shall be subject to such agreement. In any case where Grants are assumed
by another corporation, appropriate equitable adjustments as to the number and kind of shares or other securities and the purchase or exercise price(s) shall be made. 
 Article 12.    Amendment and Termination of the Plan 

12.1    Amendment. The Board may amend, suspend or terminate the Plan at any time, in its discretion, subject to any
required shareholder approval or any shareholder approval which the Board deems advisable for any reason, such as for the purpose of obtaining or retaining any statutory or regulatory benefits under tax, securities or other laws or satisfying any
stock listing requirement. 
 12.2    Termination of Plan. The Plan shall terminate on the day immediately
preceding the tenth anniversary of its effective date unless terminated earlier by the Board or unless extended by the Board with the approval of the shareholders. 
 12.3    Termination and Amendment of Outstanding Grants. A termination, suspension or amendment of the Plan that occurs after a Grant is made shall not materially impair the rights of
a Grantee unless the Grantee consents or unless the Committee acts under Section 16.2 hereof. The termination of the Plan shall not impair the power and authority of the Committee with respect to an outstanding Grant. Whether or not the Plan
has terminated, an outstanding Grant may be terminated or amended under Section 18.2 hereof or may be amended by agreement of the Company and the Grantee consistent with the Plan. 

12.4    Plan Provisions Binding. The Plan shall be the controlling document. No other statements, representations,
explanatory materials or examples, oral or written, may amend the Plan in any manner. The Plan shall be binding upon and enforceable against the Company and its successors and assigns. In the event of any conflict between the Plan and any Grant
Instrument, the Plan shall control. 
 Article 13.    Funding of the Plan 

13.1    Unfunded Plan. This Plan shall be unfunded. The Company shall not be required to establish any special or
separate fund or to make any other segregation of assets to assure the payment of any Grants under the Plan. In no event shall interest be paid or accrued on any Grant, including unpaid installments of Grants. 

Article 14.    Rights of Participants 
 14.1    No Right to Grant. Nothing in this Plan shall entitle any Grantee or other person to any claim or right to receive a Grant under the Plan. 

14.2    No Right to Employment or Retention. Neither the Plan nor any action taken hereunder shall be construed as
giving any individual any rights to be retained by or in the employ of the Company or any subsidiary of the Company or any other employment or retention rights. 
 14.3    No Restriction on Company. Nothing contained in the Plan shall be construed to (i) limit the right of the Company to make Grants under this Plan in connection with the
acquisition, by purchase, lease, merger, 

  
 A-12

 
consolidation or otherwise, of the business or assets of any corporation, firm or association, including Grants to employees thereof who become Employees of the Company or any subsidiary of the
Company, or for other proper corporate purpose, or (ii) limit the right of the Company to grant stock options or make other awards outside of the Plan. 
 Article 15.    Withholding of Taxes 

15.1    Right to Withhold. The Company shall have the right to deduct from all Grants paid in cash, or from other
wages paid to an employee of the Company, any federal, state or local taxes required by law to be withheld with respect to such cash awards and, in the case of Grants paid in Company Stock, the Grantee or other person receiving such shares shall be
required to pay to the Company the amount of any such taxes which the Company is required to withhold with respect to such Grants or the Company shall have the right to deduct from other wages paid to the employee by the Company the amount of any
withholding due with respect to such Grants. The Company also may withhold or collect amounts with respect to a disqualifying disposition of shares of Company Stock acquired pursuant to exercise of an Incentive Stock Option. 

15.2    Withholding Rules and Procedures. The Committee is authorized to adopt rules, regulations or procedures
related to tax withholding, including provision for the satisfaction of a tax withholding obligation, by the retention of shares of Stock to which the Grantee would otherwise be entitled pursuant to a Grant or by the Grantee’s delivery of
previously owned shares of Company Stock or other property. 
 Article 16.    Requirements for Issuance of Shares

 16.1    Compliance with Law. The obligations of the Company to offer, sell, issue, deliver or
transfer Company Stock under the Plan shall be subject to all applicable laws, regulations, rules and approvals, including, but not by way of limitation, the effectiveness of any registration statement under applicable securities laws if deemed
necessary or appropriate by the Company. The Company’s obligation to offer, sell, issue, deliver or transfer its shares under the Plan is further subject to the approval of any governmental authority required in connection therewith and is
further subject to the Company receiving, should it determine to do so, the advice of its counsel that all applicable laws and regulations have been complied with. Certificates for shares of Company Stock issued hereunder may be legended as the
Committee shall deem appropriate. 
 16.2    Restrictions on Grants. The Committee shall have the right to
condition any Grant made to any Grantee hereunder on such Grantee’s undertaking in writing to comply with such restrictions on his or her subsequent disposition of such shares of Company Stock as the Committee shall deem necessary or advisable
as a result of any applicable law, regulation or official interpretation thereof and certificates representing such shares may be legended to reflect any such restrictions. 
 16.3    Share Certificates. Certificates representing shares of Company Stock issued under the Plan will be subject to such stop-transfer orders and other restrictions as may be
applicable under such laws, regulations and other obligations of the Company, including any requirement that a legend or legends be placed thereon. 
 16.4    No Fractional Shares. No fractional shares of Company Stock shall be issued or delivered pursuant to the Plan or any Grant. The Committee shall determine whether cash, other
awards or other property shall be issued or paid in lieu of such fractional shares or whether such fractional shares or any rights thereto shall be forfeited or otherwise eliminated. 
 Article 17.    Forfeiture 

17.1    Misconduct. Notwithstanding anything to the contrary in the Plan, if the Committee finds, after consideration
of the facts presented on behalf of the Company and the involved Grantee, that the Grantee has been engaged in fraud, embezzlement, theft, commission of a felony, or dishonesty in the course of the Grantee’s

  
 A-13

 
employment by or service with the Company or any subsidiary, or that the Grantee has disclosed trade secrets of the Company or its affiliates, or that the Grantee has intentionally failed to
perform the individual’s stated duties, and that such actions have damaged the Company or any subsidiary in any significant manner, in the discretion of the Committee, then the Grantee shall forfeit all rights under and to all unexercised
Grants, and under and to all Grants to the Grantee with respect to which the Company has not yet delivered payment or certificates for shares of Stock (as the case may be), all of which Grants and rights shall be automatically canceled. 

17.2    Finality of Committee Decision. The decision of the Committee as to the cause of the Grantee’s discharge
from employment with the Company and any subsidiary shall be final for purposes of the Plan, but shall not affect the finality of the Grantee’s discharge by the Company of subsidiary for any other purposes. The preceding provisions of this
Section 17 shall not apply to any Incentive Stock Option to the extent such application would result in disqualification of the stock option as an incentive stock option under Sections 421 and 422 of he Code. 

Article 18.    Miscellaneous 
 18.1    Substitute Grants. The Committee may make a Grant to an employee of another corporation who becomes an Employee by reason of a corporate merger, consolidation, acquisition of
stock or property, reorganization or liquidation involving the Company or any of its subsidiaries in substitution for a stock option or restricted stock grant made by such corporation (“Substituted Stock Incentives”). The terms and
conditions of the substitute grant may vary from the terms and conditions required by the Plan and from those of the Substituted Stock Incentives. The Committee shall prescribe the provisions of the substitute grants. 

18.2    Section 16 Limitations. With respect to persons subject to Section 16 of the Exchange Act, it is
the intent of the Company that the Plan and all transactions under the Plan comply with all applicable provisions of Rule 16b-3 or its successors under the Exchange Act. The Committee, as it deems advisable, may revoke any Grant if it is contrary to
law or modify a Grant to bring it into compliance with any valid and mandatory government regulation. 

18.3    Ownership of Stock. A Grantee or successor Grantee shall have no rights as a shareholder with respect to any
shares of Company Stock covered by a Grant until the shares are issued or transferred to the Grantee or successor Grantee on the stock transfer records of the Company. 
 18.4    Headings. Section headings are for reference only. In the event of a conflict between a title and the content of a Section, the content of the Section shall control.

 18.5    Governing Law. The validity, construction, interpretation and effect of the Plan and Grant
Instruments issued under the Plan shall exclusively be governed by and determined in accordance with the law of the Commonwealth of Pennsylvania. 
 18.6    Code Section 409A. Grants are intended to be exempt from the definition of “nonqualified deferred compensation” within the meaning of Code Section 409A, and
this Plan and Grants made hereunder shall be interpreted accordingly; provided that to the extent any Grant or payment under this Plan or under any Grant constitutes “nonqualified deferred compensation,” then this Plan and the Grant are
intended to comply with Code Section 409A and shall be interpreted accordingly. 
 Article 19.    Effective Date of
the Plan 
 19.1    The Plan shall be effective as of the date of the approval of the Plan by the
Company’s shareholders. 

  
 A-14Amendment No. 1 to the Amended and Restated Agreement

 Exhibit 4.1 

 

					
		 		 	 *       Confidential Treatment has been requested for the marked portions of this exhibit
pursuant to Rule 24B-2 of the Securities Exchange Act of 1934, as amended.

 AMENDMENT NO. 1 TO THE AMENDED
AND RESTATED AGREEMENT 
 This AMENDMENT NO. 1 TO THE AMENDED AND RESTATED AGREEMENT (this “Amendment
No. 1”) is made effective as of May 27, 2009 (this “Amendment No. 1 Effective Date”) by and between TEKMIRA PHARMACEUTICALS CORPORATION (formerly INEX PHARMACEUTICALS CORPORATION), a company duly incorporated
under the laws of British Columbia having an office at #200 – 8900 Glenlyon Parkway, Burnaby, British Columbia, Canada V5J 5J8 (“TEKMIRA”) and HANA BIOSCIENCES, INC., a company duly incorporated under the laws of Delaware
having an office at 7000 Shoreline Court, Suite 370, South San Francisco, CA 94080, U.S.A. (“HANA”) (each of HANA and TEKMIRA a “Party,” and collectively, the “Parties”). 

BACKGROUND 
 A. HANA and TEKMIRA have entered into that certain Amended and Restated Agreement by and between the Parties effective as of April 30, 2007 (the “Restated Agreement”). 

B. The Parties wish to enter into an amendment to the Restated Agreement in order to amend certain rights and obligations therein,
including, without limitation to (i) delay certain milestone payments due to Tekmira in consideration for increasing later-stage milestone payments, and (ii) modify certain terms relating to Licensing/Sublicensing Revenue payable to
Tekmira all on the terms and conditions set forth herein below. 
 C. The Parties agree that in connection with this Amendment
No. 1, the Parties will also amend the UBC Sublicense Agreement to conform with the amendments to the Restated Agreement made herein. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows: 
 1. Definitions. All capitalized terms not defined in this Amendment shall have the meanings given to them in the Restated Agreement. 
 2. References to Inex. “Tekmira Pharmaceuticals Corporation” or “TEKMIRA” acquired the business of INEX in 2007. As such, all references to “Inex Pharmaceuticals
Corporation” or “INEX” are deleted in their entirety and replaced with “Tekmira Pharmaceuticals Corporation” or “TEKMIRA”, as applicable. 
 3. Defined Terms. 
 3.1 Section 1.1.4 of the Restated Agreement is
amended in its entirety to read as follows: 
 1.1.4 “Agreement” means the Restated Agreement, all amendments
and supplements to the Restated Agreement (including, without limitation, Amendment No. 1) and all exhibits and schedules to the forgoing. 

 3.2 Section 1.1.44 of the Restated Agreement is amended in its entirety to read as
follows: 
 1.1.44 “Hana Intellectual Property” means: 

(a) all Intellectual Property Rights patents and patent applications (whether complete or incomplete or whether filed or unfiled),
including registrations, in any jurisdiction world-wide, as well as any patents and patent applications owned or Controlled by Hana; and 
 (b) all Confidential Information owned or Controlled by Hana at any time during the Term of this Agreement 
 (c) “Controlled” for purposes of this Section 1.1.44 means that Hana has the ability to grant a license to TEKMIRA with respect to such Intellectual Property Rights, patents, patent
applications and Confidential Information, and shall exclude, for clarity any Intellectual Property acquired or licensed by Hana during the term of this Agreement from a Third Party. 

3.3 Section 1.1.56 of the Restated Agreement is amended in its entirety to read as follows: 

1.1.56 “Licensing/Sublicensing Revenue” means all transaction closing payments, milestone payments, license fees and any
other pre-Commercialization payments (excluding royalties, sales revenue, sales commissions and any monies and proceeds derived from the sale of licensed or sublicensed Product) collected or received by Hana or its Affiliates pursuant to each
License or Sublicense with any Third Party (excluding, for clarity, any Affiliate of Hana) to the extent received in consideration for sublicensing, or licensing, as applicable: 

(a) the Technology (which, for clarity, excludes “Technology” sublicensed to Hana under the UBC Sublicense Agreement as
such term is defined therein); 
 (b) the Licensed Patents (which, for clarity, excludes “Technology”
sublicensed to Hana under the UBC Sublicense Agreement as such term is defined therein); and/or 
 (c) the Assigned Patents.

 Except as otherwise expressly provided below, “Licensing/Sublicensing Revenue” shall not include: 

(d) any loan or other debt financing instrument issued to Hana or an Affiliate by a Licensee or Sublicensee, except to the extent that
the interest charged for such loan or other debt instrument is less than Fair Market Value (in which case only such difference between the interest rate charged to Hana or its Affiliate and the interest rate at Fair Market Value shall constitute
Licensing/Sublicensing Revenue) or to the extent that the principal of a loan or other debt instrument is forgiven (in which case only such forgiven amount shall constitute Licensing/Sublicensing Revenue); or 

  
 -2-

 (e) any equity investment in Hana or an Affiliate by a Licensee or Sublicensee, or equity of
the Licensee or Sublicensee, except to the extent that such investment is made at greater than Fair Market Value measured at the time the shares, options or other securities evidencing any such investment are granted (in which case only the excess
premium shall constitute Licensing/Sublicensing Revenue). For the purposes of this Section, if the shares of either Hana, its Affiliate or its Licensee or Sublicensee are not listed on any stock exchange, the Fair Market Value shall be based on the
price at which shares of either Hana, its Affiliate or its Licensee or Sublicensee, as the case may be, have been issued to investors (who are not industry-related strategic investors or collaborative research partners) in the then most recent bona
fide arm’s length private placement financing completed within the preceding twelve (12) months having gross proceeds of at least Ten Million Dollars ($10,000,000). If no such private placement financing has been completed, the Parties
shall appoint a mutually acceptable Person as an independent evaluator, and if the Parties cannot agree on an evaluator, the Fair Market Value shall be determined as provided in Article 13; 

(f) an exchange of rights, assets, liabilities or other interest of any kind, except to the extent that the economic benefit conferred
upon Hana or its Affiliates by reason of such exchange exceeds the Fair Market Value of the consideration which would have been paid by Hana or its Affiliates for such rights, assets, liabilities or interests, as determined by: (i) the mutual
agreement of the Parties following the application of U.S. GAAP, or failing mutual agreement; (ii) the binding decision of an arbitrator pursuant to the procedures set forth in Article 13; and 

(g) any amounts paid: (1) as reimbursements of actual costs reasonably incurred including patent prosecution and maintenance costs;
(2) withholding taxes and other amounts actually withheld from or deducted against the amounts paid to such party; (3) for the supply of goods or materials to the extent any payment for the supply of goods or materials does not exceed the
Fair Market Value for comparable goods or materials supplied, (4) as royalties or otherwise based upon the sale of such Product (including the profit on supply of Products or materials for commercial sale), (5) for research, development,
or other services, to the extent such payments do not exceed the Fair Market Value of such activities, and Eligible Expenses, or (6) for any permitted assignment of this Agreement, or for an agreement to assign this Agreement, in either case to
the extent such assignment is, or will be, resulting from the sale of substantially all of the business or assets of Hana, whether by merger, sale of stock, sale of assets or otherwise; provided, however, that any amounts paid for any permitted
assignment of this Agreement to any Third Party or for an agreement to assign this Agreement to any Third Party, which does not result from the sale of substantially all of the business or assets of Hana, whether by merger, sale of stock, sale of
assets or otherwise, shall constitute Licensing/Sublicensing Revenue. For the avoidance of doubt, and without limiting the generality of the foregoing, “Licensing/Sublicensing Revenue” shall include any Development funding in excess
of the Fair Market Value of such activities. 
 “Eligible Expenses” of a Party means (i) the documented costs and expenses
reasonably incurred by such Party or its Affiliates in performing such Party’s or its Affiliate’s responsibilities under a License or Sublicense with respect to Products; (ii) documented costs and expenses reasonably incurred by such
Party or its Affiliates in performing any other research, development, and 

  
 -3-

 
manufacture of Products (including prior to the date of the License or Sublicense); and (iii) a reasonable amount for the costs and expenses that a Party expects to incur, but has not yet
incurred, in the performance of its responsibilities under any agreement with a Sublicensee or Licensee; to the extent that (i), (ii) and (iii) do not include a premium in excess of Hana’s costs, whether such costs are measured
(a) as a market FTE rate, (b) as a project cost, (c) as a pass-through cost, or (d) as costs incurred in Development. 
 To the extent Licensing/Sublicensing Revenue represents an unallocated combined payment for both a License and/or Sublicense of the Patents and/or Technology as well as other intellectual property,
undertakings or subject matter, proceeds from such licensing and/or sublicensing arrangement for calculating payments due to Tekmira shall be reasonably allocated by agreement of the Parties between such Patents and/or Technology and such other
intellectual property, undertakings or subject matter. 
 If a dispute between the parties arises as to the amount of the
Licensing/Sublicensing Revenue above, then, upon written notice by either party to the other, such dispute shall be referred to resolution by final, binding arbitration as described in Article 13 of the Agreement. 

4. Licensing and Sublicensing 
 Section 2.4.2(h) of the Restated Agreement is amended in its entirety to read as follows: 
  

	 	(h)	within ten (10) Business Days after execution of each License or Sublicense, as the case may be, Hana shall provide Tekmira with a copy thereof, without redaction
of any financial terms of each License or Sublicense. The terms of each License or Sublicense Agreement shall be deemed to constitute “Confidential Information” of Hana for all purposes of this Agreement, and Tekmira shall not disclose the
information contained in such Sublicense or License Agreement to any Third Party except to the University of British Columbia and as authorized pursuant to Article 10 of this Agreement. 

5. Development Efforts 

Section 4.2.2 of the Restated Agreement is amended in its entirety to read as follows: 

4.2.2 Hana will provide Tekmira with written reports every six (6) months, on or before June 30 and December 31 of each and
every year, beginning June 30, 2009, to keep Tekmira fully informed of the progress of the Development of each Product, all of which semi-annual Development reports shall contain, on a Product by Product basis, a reasonably detailed accounting
of Sublicensing Revenues received by Hana or its Affiliate during the six (6) month period covered by such Development report. 
 6.
Sphingosomal Vincristine. 
 6.1 Section 3.1.1(b) of the Restated Agreement is amended in its entirety to read as
follows: 
  

	 	(b)	[*] within ten (10) days following Hana’s receipt of the approval by the FDA of the Sphingosomal Vincristine NDA, which payment shall be made by Hana issuing
to TEKMIRA a number of additional shares of Common Stock determined by dividing [*] by the FMV as of the date of such approval; provided however, if a Regulatory Submission equivalent to an NDA is approved in any of the Designated EU States before
the Sphingosomal Vincristine NDA is approved by the FDA, [*] the milestone payment due under this Section 3.1.1(b) will be paid by Hana to TEKMIRA immediately upon the approval of that equivalent filing in any of the Designated EU States, and
the remaining balance will be paid by Hana to TEKMIRA immediately upon the approval of the Sphingosomal Vincristine NDA by the FDA. 

  
 -4-

 6.2 Section 3.1.2 of the Restated Agreement is amended in its entirety to read as
follows: 
 3.1.2 Royalties 
 Hana shall pay royalties to TEKMIRA based on [*] Net Sales of Sphingosomal Vincristine as follows: 
  

	 	(a)	With respect to Net Sales made by of Hana and/or its Affiliates only (the “Hana Net Sales”) of Sphingosomal Vincristine in the United States , a
royalty no greater than [*] of Hana Net Sales comprised of the sum of one or more of the following percentages: (i) [*] of Hana Net Sales in consideration of Patents if the Product sold is embraced within any Valid Claim under the Patents in
the United States; (ii) [*] of Hana Net Sales in consideration of, and during any period of Product exclusivity provided by the laws of the United States of America, including but not limited to marketing exclusivity in the form of data
exclusivity, pediatric exclusivity, and orphan drug designation exclusivity; and (iii) [*] of Hana Net Sales in consideration of Technology; provided, however, that the total royalty paid shall be limited to [*] on that portion of [*] Hana Net
Sales up to, and including, [*], and limited to [*] on that portion of [*] Hana Net Sales exceeding [*]; 

  

	 	(b)	With respect to Hana Net Sales of Sphingosomal Vincristine in each country of the Territory other than the United States, a royalty of [*] of Hana Net Sales in
consideration of Patents and Technology; provided, however, that the total royalty paid shall be limited to [*] on that portion of [*] Hana Net Sales up to, and including, [*], and increased to [*] on that portion of [*] Hana Net Sales in excess of
[*]; 

  

	 	(c)	With respect to Net Sales in the United States made by Hana’s Licensees and Sublicensees only (the “Licensee/Sublicensee Net Sales”) of
Sphingosomal Vincristine, a royalty equal to the lesser of (1) [*] of the royalty received by Hana on Licensee/Sublicensee Net Sales in the United States pursuant to a License and/or Sublicense, as applicable, and (2) the royalty rate set
forth in Section 3.1.2(a) above with respect to Hana Net Sales in the United States as applied to Licensee/Sublicensee Net Sales of Sphingosomal Vincristine in the United States; and 

  

					
		 	-5-	 	
		 		 	Confidential Treatment Requested.

 Confidential Treatment Requested. 

	 	(d)	With respect to Licensee/Sublicensee Net Sales of Sphingosomal Vincristine in each country of the Territory other than the United States, a royalty equal to the lesser
of (1) [*] of the royalty received by Hana on Licensee/Sublicensee Net Sales pursuant to a License and/or Sublicense, as applicable, in each country of the Territory other than the United States, and (2) the royalty rate set forth in
Section 3.1.2(b) above with respect to Hana Net Sales in each country of the Territory other than the United States as applied to Licensee/Sublicensee Net Sales of Sphingosomal Vincristine in each country of the Territory other than the United
States. 

 6.3 Sections 3.1.3 and 3.1.4 of the Restated Agreement is amended in its entirety to read as follows:

 3.1.3 Generic Competition 
 If, during a given calendar year, there is sale of a generic Sphingosomal Vincristine or sale of an approved equivalent to Sphingosomal Vincristine (collectively, “Approved Sphingosomal
Vincristine Equivalents”) in any country in the Territory, then, for such country, the total amount of royalties payable to TEKMIRA for the Hana Net Sales of Sphingosomal Vincristine in such country during such calendar year will be reduced
to [*] of the royalties payable to TEKMIRA pursuant to Section 3.1.2(a) and 3.1.2(b) for such calendar year, in such country. 
 3.1.4 Deductions: 
 Notwithstanding the schedule of royalty payments set forth in
Sections 3.1.2(a) and 3.1.2(b), Hana shall be entitled to deduct from such Sphingosomal Vincristine royalty obligations owed by Hana to TEKMIRA set forth in Sections 3.1.2(a) and 3.1.2(b), an amount equal to [*] of the research and development
expenses Hana incurs in connection with the Development of Sphingosomal Vincristine (the “Sphingosomal Vincristine R&D Expenses”); provided however, that such deduction shall not exceed the lesser of: 

 

	 	(a)	[*]; or 

  

	 	(b)	[*] per patient treated in a Registrational Clinical Trial; 

 provided further, however, that such deduction for Sphingosomal Vincristine R&D Expenses shall not exceed [*] of the royalty amount otherwise payable by Hana to TEKMIRA for Sphingosomal Vincristine
set forth in Section 3.1.2(a) or 3.1.2(b), as applicable, in each calendar year, provided that Hana shall be entitled to carry over into succeeding years any amount of Sphingosomal Vincristine R&D Expenses that were ineligible for deduction
as a result of such limitation. All Sphingosomal Vincristine R&D Expenses shall be subject to audits by TEKMIRA using reasonable and customary audit procedures in order to verify the amounts thereof. 

  

					
		 	-6-	 	

 Confidential Treatment Requested. 

 7. Sphingosomal Vinorelbine 
 7.1 Section 3.2.1(b) and Section 3.2.1(c) of the Restated Agreement are amended in their entirety to read as follows: 

 

	 	3.2.1	Milestone Payments: 

 Hana shall
pay to TEKMIRA milestone payments in respect of Sphingosomal Vinorelbine as follows: 
  

	 	(b)	[*] within ten (10) days following the FDA’s acceptance for review of an NDA submission by Hana relating to Sphingosomal Vinorelbine (the
“Sphingosomal Vinorelbine NDA”), which payment shall be satisfied by Hana issuing to TEKMIRA a number of additional shares of Common Stock determined by dividing [*] by the FMV as of the Sphingosomal Vinorelbine NDA filing date;
provided however, if a Regulatory Submission equivalent to an NDA is accepted in any of the Designated EU States before the Sphingosomal Vinorelbine NDA is accepted, then [*] the milestone payment due under this Section 3.2.1(b) will be paid by
Hana to TEKMIRA immediately upon the acceptance of that equivalent filing in any of the Designated EU States, and the remaining balance will be paid by Hana to TEKMIRA immediately upon the acceptance of the Sphingosomal Vinorelbine NDA by the FDA;
and 

  

	 	(c)	[*] upon the approval by the FDA a Sphingosomal Vinorelbine NDA, which payment shall be made by Hana issuing to TEKMIRA a number of additional shares of Common Stock
determined by dividing [*] by the FMV as of the date of such FDA approval; provided however, if a Regulatory Submission equivalent to an NDA is approved in any of the Designated EU States before an NDA relating to Sphingosomal Vinorelbine is
approved by the FDA, [*] the milestone due under this Section 3.2.1(c) will be paid by Hana to TEKMIRA immediately upon approval of that equivalent filing and the remaining balance will be paid by Hana to TEKMIRA immediately upon the approval
of an NDA relating to Sphingosomal Vinorelbine by the FDA. 

 7.2 Section 3.2.2 of the Restated Agreement is
amended in its entirety to read as follows: 
 3.2.2 Royalties 

Hana shall pay to TEKMIRA royalty payments based on [*] Net Sales of Sphingosomal Vinorelbine as follows: 

 

	 	(a)	 With respect to Hana Net Sales of Sphingosomal Vinorelbine in the United States, a royalty no greater than [*] of Hana Net Sales

  

					
		 	-7-	 	

 Confidential Treatment Requested. 

	 	 
comprised of the sum of one or more of the following percentages: (i) [*] of Hana Net Sales in consideration of Patents if the Product sold is embraced within any Valid Claim under the
Patents in the United States; (ii) [*] of Hana Net Sales in consideration of, and during any period of Product exclusivity provided by the laws of the United States of America, including but not limited to marketing exclusivity in the form of
data exclusivity, pediatric exclusivity, and orphan drug designation exclusivity; and (iii) [*] of Hana Net Sales in consideration of Technology; provided, however, that the total royalty paid shall be limited to [*] on that portion of [*] Hana
Net Sales up to, and including, [*], and limited to [*] on that portion of [*] Hana Net Sales exceeding [*]; 

  

	 	(b)	With respect to Hana Net Sales of Sphingosomal Vinorelbine in each country of the Territory other than the United States, a royalty of [*] of Hana Net Sales in
consideration of Patents and Technology; provided, however, that the total royalty paid shall be limited to [*] on that portion of [*] Hana Net Sales up to, and including, [*], and increased to [*] on that portion of [*] Hana Net Sales in excess of
[*]; 

  

	 	(c)	With respect to Licensee/Sublicensee Net Sales of Sphingosomal Vinorelbine in the United States, a royalty equal to the lesser of (1) [*] of the royalty received
by Hana on Licensee/Sublicensee Net Sales in the United States pursuant to a License Agreement and/or Sublicense, as applicable, and (2) the royalty rate set forth in Section 3.2.2(a) above with respect to Hana Net Sales in the United
States as applied to Licensee/Sublicensee Net Sales of Sphingosomal Vinorelbine in the United States; and 

  

	 	(d)	With respect to Licensee/Sublicensee Net Sales of Sphingosomal Vinorelbine in each country of the Territory other than the United States, a royalty equal to the lesser
of (1) [*] of the royalty received by Hana on Licensee/Sublicensee Net Sales pursuant to a License Agreement and/or Sublicense, as applicable, in each country of the Territory other than the United States, and (2) the royalty rate set
forth in Section 3.2.2(b) above with respect to Hana Net Sales in each country of the Territory other than the United States as applied to Licensee/Sublicensee Net Sales of Sphingosomal Vinorelbine in each country of the Territory other than
the United States. 

 7.3 Sections 3.2.3 and 3.2.4 of the Restated Agreement is amended in its entirety to read as
follows: 
 3.2.3 Generic Competition 
 If, during a given calendar year, there is sale of a generic Sphingosomal Vinorelbine or sale of an approved equivalent to Sphingosomal Vinorelbine (collectively, “Approved Sphingosomal
Vinorelbine Equivalents”) in any country in the Territory, then, for such country, the total amount of royalties payable to TEKMIRA for the Hana Net Sales of Sphingosomal Vinorelbine in such country during such calendar year will be reduced
to [*] of the royalties payable to TEKMIRA pursuant to Section 3.2.2(a) and 3.2.2(b) for such calendar year, in such country. 

  

					
		 	-8-	 	

 Confidential Treatment Requested. 

 3.2.4 Deductions: 
 Notwithstanding the schedule of royalty payments set forth in Sections 3.2.2(a) and 3.2.2(b), Hana shall be entitled to deduct from such Sphingosomal Vinorelbine royalty obligations owed by Hana to
TEKMIRA set forth in Sections 3.2.2(a) and 3.2.2(b), an amount equal to [*] of the research and development expenses Hana incurs in connection with the Development of Sphingosomal Vinorelbine (the “Sphingosomal Vinorelbine R&D
Expenses”); provided however, that such deduction shall not exceed the lesser of: 
  

	 	(a)	[*]; or 

  

	 	(b)	[*] per patient treated in a Registrational Clinical Trial; 

 provided further, however, that such deduction for Sphingosomal Vinorelbine R&D Expenses shall not exceed [*] of the royalty amount otherwise payable by Hana to TEKMIRA for Sphingosomal Vinorelbine
set forth in Section 3.2.2(a) or 3.2.2(b), as applicable, in each calendar year, provided that Hana shall be entitled to carry over into succeeding years any amount of Sphingosomal Vinorelbine R&D Expenses that were ineligible for deduction
as a result of such limitation. All Sphingosomal Vinorelbine R&D Expenses shall be subject to audits by TEKMIRA using reasonable and customary audit procedures in order to verify the amounts thereof. 

7.4 The milestone payment set forth in Section 3.3.1(a) shall be deleted and Section 3.3.1 of the Restated Agreement is amended
in its entirety to read as follows: 
 3.3.1 Milestone Payments: 

Hana shall pay to TEKMIRA milestones payments in respect of Sphingosomal Topotecan as follows: 

 

	 	(a)	Deleted. 

  

	 	(b)	 [*] within ten (10) days following the FDA’s acceptance for review of an NDA submission by Hana relating to Sphingosomal Topotecan (the
“Sphingosomal Topotecan NDA”), which payment shall be satisfied by Hana issuing to TEKMIRA a number of additional shares of Common Stock determined by dividing [*] by the FMV as of the Sphingosomal Topotecan NDA filing date;
provided however, if a 

  

					
		 	-9-	 	

 Confidential Treatment Requested. 

	 	 
Regulatory Submission equivalent to an NDA is accepted in any of the Designated EU States before the Sphingosomal Topotecan NDA is accepted, then [*] the milestone payment due under this
Section 3.3.1(b) will be paid by Hana to TEKMIRA immediately upon the acceptance of that equivalent filing in any of the Designated EU States, and the remaining balance will be paid by Hana to TEKMIRA immediately upon the acceptance of the
Sphingosomal Topotecan NDA by the FDA; and 

  

	 	(c)	[*] upon the approval by the FDA of a Sphingosomal Topotecan NDA, which payment shall be made by Hana issuing to TEKMIRA a number of additional shares of Common Stock
determined by dividing [*] by the FMV as of the date of such FDA approval; provided however, if a Regulatory Submission equivalent to an NDA is approved in any of the Designated EU States before an NDA relating to Sphingosomal Topotecan is approved
by the FDA, [*] the milestone due under this Section 3.3.1(c) will be paid by Hana to TEKMIRA immediately upon approval of that equivalent filing and the remaining balance will be paid by Hana to TEKMIRA immediately upon the approval of an NDA
relating to Sphingosomal Topotecan by the FDA. 

 7.5 Section 3.3.2 of the Restated Agreement is amended in
its entirety to read as follows: 
 3.3.2 Royalties 
 Hana shall pay to TEKMIRA royalty payments based on [*] Net Sales of Sphingosomal Topotecan as follows: 
  

	 	(a)	With respect to Hana Net Sales of Sphingosomal Topotecan in the United States, a royalty no greater than [*] of Hana Net Sales comprised of the sum of one or more of
the following percentages: (i) [*] of Hana Net Sales in consideration of Patents if the Product sold is embraced within any Valid Claim under the Patents in the United States; (ii) [*] of Hana Net Sales in consideration of, and during any
period of Product exclusivity provided by the laws of the United States of America, including but not limited to marketing exclusivity in the form of data exclusivity, pediatric exclusivity, and orphan drug designation exclusivity; and
(iii) [*] of Hana Net Sales in consideration of Technology; provided, however, that the total royalty paid shall be limited to [*] on that portion of [*] Hana Net Sales up to, and including, [*], and limited to [*] on that portion of [*] Hana
Net Sales exceeding [*]; 

  

	 	(b)	 With respect to Hana Net Sales of Sphingosomal Topotecan in each country of the Territory other than the United States, a royalty of [*] of Hana Net
Sales in consideration of Patents and Technology; provided, 

  

					
		 	-10-	 	

 Confidential Treatment Requested. 

	 	 
however, that the total royalty paid shall be limited to [*] on that portion of [*] Hana Net Sales up to, and including, [*], and increased to [*] on that portion of [*] Hana Net Sales in excess
of [*]; 

  

	 	(c)	With respect to Licensee/Sublicensee Net Sales of Sphingosomal Topotecan in the United States, a royalty equal to the lesser of (1) [*] of the royalty received by
Hana on Licensee/Sublicensee Net Sales in the United States pursuant to a License Agreement and/or Sublicense, as applicable, and (2) the royalty rate set forth in Section 3.3.2(a) above with respect to Hana Net Sales in the United States
as applied to Licensee/Sublicensee Net Sales of Sphingosomal Topotecan in the United States; and 

  

	 	(d)	With respect to Licensee/Sublicensee Net Sales of Sphingosomal Topotecan in each country of the Territory other than the United States, a royalty equal to the lesser of
(1) [*] of the royalty received by Hana on Licensee/Sublicensee Net Sales pursuant to a License Agreement and/or Sublicense, as applicable, in each country of the Territory other than the United States, and (2) and the royalty rate set
forth in Section 3.3.2(b) above with respect to Hana Net Sales in each country of the Territory other than the United States as applied to Licensee/Sublicensee Net Sales of Sphingosomal Topotecan in each country of the Territory other than the
United States. 

 7.6 Sections 3.3.3 and 3.3.4 of the Restated Agreement is amended in its entirety to read as
follows: 
 3.3.3 Generic Competition 
 If, during a given calendar year, there is sale of a generic Sphingosomal Topotecan or sale of an approved equivalent to Sphingosomal Topotecan (collectively, “Approved Sphingosomal Topotecan
Equivalents”) in any country in the Territory, then, for such country, the total amount of royalties payable to TEKMIRA for the Hana Net Sales of Sphingosomal Topotecan in such country during such calendar year will be reduced to [*] of the
royalties payable to TEKMIRA pursuant to Section 3.3.2(a) and 3.3.2(b) for such calendar year, in such country. 
 3.3.4
Deductions: 
 Notwithstanding the schedule of royalty payments set forth in Sections 3.3.2(a) and 3.3.2(b), Hana shall be
entitled to deduct from such Sphingosomal Topotecan royalty obligations owed by Hana to TEKMIRA set forth in Sections 3.3.2(a) and 3.3.2(b), an amount equal to [*] of the research and development expenses Hana incurs in connection with the
Development of Sphingosomal Topotecan (the “Sphingosomal Topotecan R&D Expenses”); provided however, that such deduction shall not exceed the lesser of: 

 

	 	(a)	[*]; or 

  
 -11-

	 	(b)	[*] per patient treated in a Registrational Clinical Trial; 

 provided further, however, that such deduction for Sphingosomal Topotecan R&D Expenses shall not exceed [*] of the royalty amount otherwise payable by Hana to TEKMIRA for Sphingosomal Topotecan set
forth in Section 3.3.2(a) or 3.3.2(b), as applicable, in each calendar year, provided that Hana shall be entitled to carry over into succeeding years any amount of Sphingosomal Topotecan R&D Expenses that were ineligible for deduction as a
result of such limitation. All Sphingosomal Topotecan R&D Expenses shall be subject to audits by TEKMIRA using reasonable and customary audit procedures in order to verify the amounts thereof. 

8. Sections 3.6.1, 3.6.2 and 3.6.3 of the Restated Agreement are amended in their entirety to read as follows: 

3.6.1 Hana shall pay to Tekmira a percentage of Sphingosomal Vincristine Licensing/Sublicensing Revenue as follows: 

(a) [*] of Licensing/Sublicensing Revenue received by Hana or its Affiliate as initial license fees (an “Upfront
Payment”) for any Sphingosomal Vincristine Product Licensed or Sublicensed by Hana or its Affiliate to a Third Party; and 
 (b) [*] of Licensing/Sublicensing Revenue, other than Upfront Payment(s) (“Milestone Payments”), for any Sphingosomal Vincristine Product Licensed or Sublicensed by Hana or its Affiliate
to a Third Party. 
 3.6.2 Hana shall pay to Tekmira a percentage of Sphingosomal Vinorelbine Licensing/Sublicensing Revenue as
follows: 
 (a) [*] of Upfront Payment(s) for any Sphingosomal Vinorelbine Product Licensed or Sublicensed by
Hana or its Affiliate to a Third Party; and 
 (b) [*] of Milestone Payments for any Sphingosomal Vinorelbine
Product Licensed or Sublicensed by Hana or its Affiliate to a Third Party. 
 3.6.3 Hana shall pay to Tekmira a percentage of
Sphingosomal Topotecan Licensing/Sublicensing Revenue as follows: 
 (a) [*] of Upfront Payment(s) for any
Sphingosomal Topotecan Product Licensed or Sublicensed by Hana or its Affiliate to a Third Party; and 
 (b) [*]
of Milestone Payments for any Sphingosomal Topotecan Product Licensed or Sublicensed by Hana or its Affiliate to a Third Party. 

  

					
		 	-12-	 	
		 		 	Confidential Treatment Requested.

 Confidential Treatment Requested. 

 9. Section 3.6.4 shall be amended to read in its entirety as follows: 

3.6.4 Notwithstanding anything to the contrary contained in this Section 3.6, Hana shall have no obligation to pay to TEKMIRA its
respective share of any such Licensing/Sublicensing Revenue unless and until Hana actually receives such Licensing/Sublicensing Revenue from its Licensee or Sublicensee. For clarity, the payments made by Hana to TEKMIRA pursuant to Sections 3.6.1,
3.6.2 and 3.6.3 shall be in lieu of, and not in addition to, the milestone payments described in subparagraphs 3.1.1, 3.2.1 and 3.3.1 above, such that Hana shall owe TEKMIRA the milestone payments pursuant to Sections 3.1.1, 3.2.1 and 3.3.1 if Hana
has not entered into a License/Sublicense Agreement and itself achieves the milestones set forth in Sections 3.1.1, 3.2.1 and 3.3.1 with respect to a Product OR Hana shall owe TEKMIRA the milestone payments pursuant to Section 3.6.1,
3.6.2 and 3.6.3 if Hana has entered into a License/Sublicense Agreement with respect to a Product. By way of non-limiting example, if Hana has entered into a License or Sublicense with respect to Sphingosomal Vinorelbine (a “Vinorelbine
Sublicense”), and pursuant to such Vinorelbine Sublicense Hana receives a milestone payment of [*] upon approval by the FDA of an NDA relating to Sphingosomal Vinorelbine (the “NDA Approval Milestone”) and such milestone
payment is considered Licensing/Sublicensing Revenue pursuant to this Agreement, Hana would not owe TEKMIRA the [*] milestone payment set forth in Section 3.2.1(c) in addition to the [*] of Licensing/Sublicensing Revenue owed pursuant to
Section 3.6.2 above (25% of the milestone Hana receives as Licensing/Sublicensing Revenue pursuant to the applicable License/Sublicense Agreement), but instead would owe TEKMIRA only [*] with respect to the NDA Approval Milestone. Similarly, if
Hana has entered into a Vinorelbine Sublicense, and pursuant to such Vinorelbine Sublicense Hana does receive an NDA Approval Milestone, Hana would not owe TEKMIRA the [*] milestone payment set forth in Section 3.2.1(c), but instead would owe
TEKMIRA [*] of the milestone payment received by Hana for such NDA Approval Milestone from the Licensee or Sublicensee, as applicable, under the Vinorelbine Sublicense and falling within the definition of Licensing/Sublicensing Revenue generated
pursuant to such Vinorelbine Sublicense. 
 10. A new Section 10.2.3 shall be added and shall read in its entirety as follows: 

10.2.3 Nondisclosure of Terms. Except for either Party’s right to disclose the terms of this Agreement to the University of
British Columbia and to [*], each of the Parties hereto agrees not to disclose the terms of this Agreement to any Third Party without the prior written consent of the other party hereto; provided that a Party may disclose the terms of this Agreement
without such consent to such party’s attorneys, advisors or investors on a need to know basis, to Third Parties in connection with due diligence or similar investigations by such Third Parties, and to potential Third Party investors in
confidential financing documents; in each case, under circumstances that reasonably ensure the confidentiality and appropriately restricted use thereof, or to the extent required by law. 
 11. A new sentence shall be added at the end of Section 14.4.1 and shall read in its entirety as follows: 
 Notwithstanding the forgoing, in the event of a dispute with respect to the existence of a breach and/or default under this Agreement, the cure periods set forth in this Section 14.4.1 shall be
tolled until such time as the dispute is resolved pursuant to Article 13 hereof. 
 12. Section 15.2 of the Restated Agreement is amended
in its entirety to read as follows: 
 15.2 Assignment. Neither Party may assign this Agreement in whole or in part
without the prior written consent of the other Party, provided that, (i) either Party may assign this Agreement in whole or in part to an entity that is an Affiliate so long as such entity is an Affiliate at the time of such assignment, without
such consent, and (ii) either Party may assign this Agreement, without such consent, to an entity that acquires all or substantially all of the business or assets of such Party to which this Agreement pertains (whether by merger,
reorganization, amalgamation, acquisition, sale or otherwise), and agrees in writing to be bound by the terms and conditions of this Agreement. The terms and conditions shall be binding on and inure to the benefit of the permitted successors and
assigns of the Parties. Any permitted assignee shall assume all obligations of its assignor under this Agreement. No assignment shall relieve any Party of responsibility for the performance of any accrued obligation that such Party then has under
this Agreement. If either Party is acquired by another entity, the intellectual property rights of the acquiring entity shall not be included in the technology licensed to the other Party hereunder. 

  

					
		 	-13-	 	

 Confidential Treatment Requested. 

 13. Covenant. 
 12.1 As of the date hereof, the Parties have entered into that certain Acknowledgement Agreement (the “Acknowledgement”) with UBC regarding an amendment to the UBC Sublicense Agreement,
which amendment shall (a)conform the provisions of the UBS Sublicense Agreement to those set forth in this Amendment, and (b) clarify that Tekmira shall be entitled to receive from Hana milestone payments, a percentage of Licensing/Sublicensing
Revenue and royalties, as applicable, pursuant to either the Agreement, as amended hereby, or the UBC Sublicense, but in no event shall Hana be required to make duplicate payments under both agreements with respect to any transaction triggering such
payment. The Parties agree that within thirty (30) days of the Amendment No. 1 Effective Date, (a) the Parties shall execute an amendment of the UBC Sublicense Agreement as contemplated by this Amendment and the Acknowledgement, and
(b) the Parties and UBC shall execute a new tripartite consent agreement by and among UBC, Hana and Tekmira consenting to such amendment to the UBC Sublicense. 
 12.2 The Parties further acknowledge that, pursuant to this Amendment No. 1, Hana has no obligation to Tekmira to make the payment to Tekmira as set forth in Section 3.3.1(a) of the Restated
Agreement. 
 14. Miscellaneous. Except as specifically modified or amended hereby, the Restated Agreement shall remain in full force and
effect and, as modified or amended, is hereby ratified, confirmed and approved. Notwithstanding the foregoing, to the extent any terms of this Amendment No. 1 conflict with the terms of the Restated Agreement, the terms of this Amendment shall
govern. No provision of this Amendment No. 1 may be modified or amended except expressly in a writing signed by both Parties nor shall any terms be waived except expressly in a writing signed by the Party charged therewith. 

IN WITNESS WHEREOF, the Parties have executed this Amendment No. 1 in duplicate originals by their duly authorized representatives
as of the Amendment No. 1 Effective Date. 

  
 -14-

									
	HANA BIOSCIENCES, INC.	 		 	TEKMIRA PHARMACEUTICALS CORPORATION
					
	By:	 	 /s/ Steven R. Deitcher
	 		 	By:	 	 /s/ Ian Mortimer

					
	Name:	 	 Steven R. Deitcher
	 		 	Name:	 	 Ian Mortimer

					
	Title:	 	 President and Chief Executive Officer
	 		 	Title:	 	 Chief Financial Officer

				
	TEKMIRA PHARMACEUTICALS CORPORATION	 		 		 	
					
	By:	 	 /s/ Mark J. Murray
	 		 		 	
					
	Name:	 	 Mark J. Murray
	 		 		 	
					
	Title:	 	 President and Chief Executive Officer
	 		 		 	

  
 -15-

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