Document:

exhibit_4-17.htm

Exhibit 4.17

 

 

Master Services Agreement

This Master Services Agreement (this “Agreement”) is made and entered into as of the date of the last party to sign (the “Effective Date”) between Certara, L.P., a Delaware limited partnership, via its branch, Certara, L.P. Sucursal em Portugal (hereinafter “Certara Portugal”), and Prana Biotechnology Ltd ACN 080 699 065, an Australian public company with its principal office at Level 2, 369 Royal Parade, Parkville, Victoria 3052 Australia (hereinafter “Customer”).

1. Program Work

 

1.1          From time to time during the term of this Agreement, Certara Portugal shall provide (i) a program of tactical or strategic research, analysis, training, and/or development in the area of computer-assisted clinical trial design and modeling, (ii) biomedical modeling and/or simulation services and/or (iii) implementation, deployment, training and other similar services related to, or in conjunction with, its or its affiliates’ proprietary software products (the “Work”) and deliver written reports, documents, data, results and other deliverables resulting from such Work (the “Deliverables”) to Customer.  The specific details of any Work covered by this Agreement, including but not limited to, scope of work, timeline and acceptance of Deliverables,  will be agreed to in writing and appended hereto in the form of a Work Order (as defined in Section 1.2 below).  Nothing contained in this Agreement shall obligate Customer to procure or Certara Portugal to perform any services hereunder until such time as the parties execute a Work Order pursuant to Section 1.2.

 

1.2     In the event that Customer desires to obtain services, the parties shall mutually agree upon a work order for Work which shall be based on the form attached hereto as Attachment A (Work Order Template) (a “Work Order”).  Each Work Order will contain a description of the Work, a detailed budget, including the price to be paid by Customer to Certara Portugal for the Work, period of performance, the Deliverables and such other terms and conditions consistent with this Agreement to which the parties have agreed with respect to the Work to be provided under such Work Order.  Each Work Order shall be binding only upon signing by both parties.  Work Orders may be separately executed and upon execution shall be incorporated herein by reference and made a part hereof with each Work Order being sequentially numbered (Work Order No. 1, Work Order No. 2 and so on).  In the event of a conflict between a provision of this Agreement and a provision in a Work Order, the terms and conditions of this Agreement shall supersede any conflicting terms and conditions in that Work Order. Any changes in the scope of a Work Order will be mutually agreed upon between the parties and addressed in a separate Work Order signed by both parties or by way of written amendment to the existing Work Order signed by both parties. 

2. Independent Contractor Status

Certara Portugal’s relationship with Customer will be that of an independent contractor and not an employee or agent of Customer.  Nothing in this Agreement shall be interpreted or construed as creating or establishing the relationship of employer and employee between Customer and either Certara Portugal or any personnel of Certara Portugal.

3. Term and Termination

 

3.1           This Agreement will commence on the Effective Date and shall remain in force for three (3) years (the “Term”), unless terminated in accordance with the terms of this Agreement.

3.2           Subject to Section 3.4, this Agreement may be terminated by either party upon thirty (30) days prior written notice if the other party breaches any material obligation hereunder and the breaching party fails to cure such breach within the thirty (30) day period, provided, however, that the cure period for any failure of Customer to pay fees and charges due hereunder will be fifteen (15) days from the date of receipt by Customer of notice of such failure.

3.3           Either party shall have the right to terminate this Agreement with immediate effect if the other party should enter into liquidation or become insolvent, or enter into receivership or bankruptcy.

3.4           Customer may terminate a Work Order or a portion thereof executed hereunder in its sole discretion on no less than thirty (30) days prior written notice to Certara Portugal.  Notwithstanding the termination rights provided above in Section 3.2, but subject to the proviso below, all Work Orders under this Agreement must be completed or terminated before termination of this Agreement, and, therefore, this Agreement shall not terminate until all Work Orders have either been terminated or completed; provided, however, if this Agreement is terminated by Certara Portugal due to Customer’s failure to pay fees and charges due hereunder, then all Work Orders shall be deemed to be terminated at the time of termination of this Agreement and Customer shall remain liable for the full payment of any Work Orders so terminated.  In the event that Customer terminates a Work Order for any reason, except for the default of Certara Portugal, Customer shall pay Certara Portugal all fees earned up until the effective date of termination of the Work Order, provided always that Certara shall upon receipt of notice of termination from Customer cease any further work under the Work Order (unless otherwise requested by Customer).  The method for determining fees earned is outlined in Section 4.1.  Customer shall also pay all reasonable non-cancelable costs incurred as of the effective date of termination of the Work Order. As used herein, non-cancelable costs (including, but not limited to, reasonable costs for wrap-up or close-out work designated by Customer or required by law or regulation) shall mean costs which cannot be prevented or mitigated and which arise directly as a result of the Work Order.  Subject to the terms of the applicable Work Order, in the event that any subsequent payments made by Customer exceed the final calculation of the fees or costs owed to Certara Portugal, Certara Portugal shall promptly reimburse such excess to Customer.  Upon receipt of notice of termination from Customer, Certara Portugal shall cease any further work under the Work Order (unless otherwise requested by Customer) and use its best efforts to cease incurring and to minimize already incurred costs. Within thirty (30) days of such termination, Certara Portugal shall submit to Customer in writing an invoice for all reasonable fees and reasonable non-cancelable costs as defined in this Section.

 

  

  

  

3.5           Upon the delivery of a notice of termination of this Agreement by either party, Certara Portugal shall, subject to Section 3.4 above, immediately cease work and deliver to Customer all Work in progress. Promptly following receipt of written request, each party shall return all Confidential Information (as defined in Section 6 below) including all copies thereof.If Customer exercises its right to terminate this Agreement, any obligation it may otherwise have under this Agreement shall cease immediately, provided that Customer shall only be obligated to pay Certara Portugal monies owed to Certara Portugal up to the time of termination for Work actually performed and reasonable expenses actually incurred. Subject to the terms of the applicable Work Order, any unearned or unexpended portion of monies previously paid by Customer to Certara Portugal shall be refunded to Customer.  

 

3.6           In the event of any termination of this Agreement, Sections 4 (Fees, Expenses, and Payment), 5 (Intellectual Property Rights), 6 (Confidential Information), 7 (Warranty and Warranty Disclaimers), 8 (Indemnification), 9 (Liabilities and Limitation of Liability), and 10 (General) hereof shall survive and continue with full force and effect.

4. Fees, Expenses, and Payment

4.1           Fees and Payments.  In consideration of the Work, Customer shall pay Certara Portugal the fees set forth in the applicable Work Order.  If the Work is provided on a milestone basis and Certara Portugal does not complete a milestone or if Customer terminates this Agreement before a milestone is completed, Certara Portugal shall bill and Customer shall pay, for all Work performed from the last completed milestone, or in the case where the first milestone has not been completed, from the commencement of the Work under this Agreement.  The amount of payment by Customer for Work performed on the partially completed milestone shall be based on the number of hours worked on the partial milestone, multiplied by Certara Portugal’s standard rates.  Certara Portugal shall invoice Customer in accordance with the schedule set forth in the applicable Work Order and Customer shall pay all fees and expenses due to Certara Portugal within thirty (30) days of Customer’s receipt of such invoice. Overdue payments will bear interest at the rate of one and one half percent (1.5%) per month or the maximum allowed under applicable law, whichever is less.  Customer shall provide Certara Portugal with its internal project identification information and the appropriate contact person and all invoices will be sent to the address set forth below Customer’s name on the signature page to this Agreement.

4.2           Reimbursement of Expenses.  Customer shall reimburse Certara Portugal (at Certara Portugal’s actual cost) for all travel and other out-of-pocket expenses reasonably incurred by Certara Portugal in the performance of the Work as specified in each applicable Work Order.  All air travel will be economy class and Certara Portugal will obtain lodging at moderate rates given the particular location.  Certara Portugal agrees to provide Customer with copies of such receipts and other records as may be reasonably necessary for Customer to verify the amount and nature of any such expenses.

4.3           Taxes.  In addition to any other payments due under this Agreement, Customer agrees to pay any sales, use, excise, import, export, value added, or similar tax or duty, and any other tax not based on Certara Portugal’s net income, and all government permit fees, license fees, customs fees and similar fees levied upon the Work, the Deliverables, or other items provided to Customer by Certara Portugal.

5. Intellectual Property Rights

5.1           Certara Portugal Intellectual Property. Customer acknowledges that Certara, L.P. (“Certara”), Certara Portugal’s other affiliates and certain other parties with whom Certara Portugal has licenses (collectively, along with Certara, “Certara Portugal’s licensors”) own, and Certara Portugal and its affiliates and designates are the licensees and distributors of, certain inventions, discoveries, processes, know-how, trade secrets, copyrights, improvements, and other intellectual properties, including but not limited to software, scripts, models, databases, statistical, decision, strategic, and clinical trial design methodologies; and modeling and analysis techniques, which are owned by, or have been developed by, Certara Portugal, Certara, Certara Portugal’s other affiliates or Certara Portugal’s licensors, (the “Certara Portugal-IP”). Customer and Certara Portugal agree that Certara Portugal, Certara, Certara Portugal’s other affiliates or Certara Portugal’s licensors, as the case may be, are the sole and exclusive owners of Certara Portugal-IP, whether or not any such Certara Portugal-IP is specifically used or adapted by Certara Portugal or its affiliates in connection with the creation of any Deliverable. Customer and Certara Portugal further agree that any improvements or modifications to Certara Portugal-IP which are used, improved, modified, or developed by Certara Portugal or Customer (solely or jointly) as a result of the Work and do not include or utilize Customer Confidential Information   (as defined in Section 6.1) or Customer IP (as defined in Section 5.2) (the “Certara Portugal IP Improvements”) are the sole and exclusive property of Certara Portugal, Certara, Certara Portugal’s other affiliates or Certara Portugal’s licensors, as the case may be and shall be assigned to Certara Portugal, Certara, Certara Portugal’s other affiliates or Certara Portugal’s licensors, as applicable. 

 

  

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5.2           Customer Intellectual Property. Certara Portugal acknowledges that Customer owns, controls or otherwise has rights in  a range of proprietary compounds including PBT2, inventions, discoveries, processes, methodologies, know-how, trade secrets, copyrights, improvements and other intellectual properties relating to Customer’s research and development (as well as the intellectual property rights subsisting in them)(collectively the “Customer-IP”). Customer and Certara Portugal agree that, as between Customer and Certara Portugal, Customer is the sole and exclusive owner of Customer-IP. Customer and Certara Portugal further agree that Customer shall be the sole and exclusive owner of, and Certara Portugal shall assign to Customer, the following (collectively “Customer-IP Improvements”): (i) any improvements or modifications to Customer-IP which are improved, modified, developed or conceived by either Certara Portugal or Customer (solely or jointly) as a result of the Work  and (ii) any other discovery or invention involving dosage levels, dosing administration regimen, characterization, functionality, utility and/or formulations of any Customer proprietary compound or Customer Confidential Information (as defined in Section 6.1) that is improved, modified, developed or conceived by Certara Portugal or Customer (solely or jointly) as a result of the Work.

5.3           Deliverables and License.  Subject to (i) the terms and conditions of this Agreement, including, without limitation, Customer complying with its payment obligations in Section 4 and (ii)Certara Portugal’s and Certara’s, Certara Portugal’s licensor’s rights with regard to Certara Portugal-IP and Certara Portugal-IP Improvements, as provided in this Agreement, including, without limitation, Sections 5.1 and 5.5, Customer shall own all Deliverables (and all intellectual rights subsisting in them (specifically excluding all Certara Portugal-IP and Certara Portugal-IP Improvements which may be contained therein)).  Subject to the terms and conditions of this Agreement, including, without limitation, Customer complying with its payment obligations set forth in Section 4, if any Deliverable contains any Certara Portugal-IP (other than the Certara Portugal name, logos and trade marks) or Certara Portugal-IP Improvements (which for the avoidance of doubt must be identified as such in the Deliverable), then Certara Portugal hereby grants to Customer, a world-wide, fully-paid, royalty-free, non-exclusive, and perpetual license of such Certara Portugal-IP and Certara Portugal-IP Improvements (Licensed IP) in order to use and display, and provide third parties (Customer’s “Clients”)(subject to the conditions in Section 5.4) and regulatory authorities throughout the world with, the Deliverables for Customer’s business purposes. Other than Customer’s above stated express license rights, nothing in this Agreement shall be deemed to grant Customer any express or implied sublicense to any Certara Portugal-IP or Certara Portugal-IP Improvements, including any Certara Portugal or its affiliates’ software products, for any reason. Customer understands that, if Customer wishes to use any Certara Portugal-branded software product or any of its affiliates’ software products, it must purchase a license/sublicense separately from Certara Portugal or the particular affiliate under such company’s standard terms and conditions for such license/sublicense For the avoidance of doubt, where any Deliverable contains the Certara Portugal name or any Certara Portugal logos or trademarks (collectively Certara Portugal Trade Marks), the Customer and any Client may copy, reproduce or refer to the Deliverable in pursuance of this Agreement without the need to have in place a license to use the Certara Portugal Trade Marks from Certara Portugal.

5.4           Customer’s Clients.  Notwithstanding anything in the Agreement or in any Work Order to the contrary, if any Deliverable contains any  Licensed IP, then the Deliverable may only be provided to a Client in pursuance of Customer’s business purposes where  the Client has agreed in writing (Client Confidentiality Agreement) to: (i) keep the entire Deliverable in confidence under confidentiality terms at least as strict as those contained in Section 6; and (ii) only use the Licensed IP to assist its review, interpretation and understanding of the Customer Confidential Information in the Deliverable. Customer hereby agrees (i) to be directly liable to Certara Portugal for any and all breaches of the confidentiality and/or use provisions under the Client Confidentiality Agreements by the Clients or any of their respective personnel and (ii) that any breach or act by such Client or its personnel shall be deemed an act of Customer under the Agreement.

5.5           Assignment.  In order to ensure that the exclusive ownership interest in the intellectual property described in Sections 5.1 and 5.2 above is fully vested in Certara Portugal, Certara, Certara Portugal’s other affiliates, Certara Portugal’s licensors or Customer (as the case may be) in accordance with the terms as set forth in therein, each party (as applicable) shall promptly after the conception, discovery, invention and/or development of such intellectual property cooperate with the other party in taking all reasonable steps necessary or desirable to secure ownership rights for the appropriate party in such intellectual property including, without limitation, cooperation, at the other party’s expense, in completing any patent applications relating to such intellectual property rights, as well as executing and delivering any instrument that may be reasonably required to assign, convey and transfer any ownership interest that the other party may have in such intellectual property rights to the appropriate party under Sections 5.1 and 5.2 hereof.  

 

  

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6. Confidential Information

6.1           Definition.  “Confidential Information” of a party means non-public information and data of that party that is disclosed to the other party which shall include but not be limited to any and all compounds, information, formulae, methods, clinical research data, drug development plans, methodologies, techniques, processes, know-how and data, technical or non-technical, whether written, graphic, computer-generated or orally furnished to the other party. Without limiting the foregoing, the parties hereby acknowledge and agree that (i) the terms of this Agreement constitute Confidential Information of each party, (ii) Certara Portugal’s Confidential Information includes the Certara Portugal-IP and Certara Portugal-IP Improvements and all of its pricing, its work plans and work plan proposals and other terms and conditions related to the performance or possible performance of services hereunder, whenever the same was provided to Customer, and (ii) Customer’s Confidential Information includes but is not limited to Customer-IP, the Customer-IP Improvements, the Deliverables and any non-public information concerning its proprietary compounds and its development plans therefor.

6.2           Obligation.  The parties acknowledge that in the course of the Work, it will be necessary for each party to disclose Confidential Information to the other. Certara Portugal and Customer each acknowledge that the other party considers its Confidential Information to be valuable trade secrets and agree to take all reasonable precautions and actions, (a) to hold all Confidential Information received from the other party in confidence, in a manner consistent with treatment of the party’s own similar confidential information, but in no event with less than reasonable care and diligence and not to disclose to any third party; and (b) to provide the Confidential Information received hereunder only to the party’s officers, subcontractors, employees, representatives, partners, collaborators, agents, and other third parties (collectively “Agents”) who are directly concerned with the Work under this Agreement and who have agreed to keep the other party’s Confidential Information in confidence under confidentiality terms at least as strict as those contained in this Section 6. Further, the parties agree to use all reasonable safeguards to prevent the unauthorized use or disclosure of Confidential Information by such Agents. Each party agrees to promptly notify the other party upon any such breach of confidentiality by such party or any of its Agents and to take all reasonable steps to minimize the effect of such breach.  Both parties agree not to use any Confidential Information except as expressly permitted by this Agreement. The obligations of this Section 6.2 will survive the termination or expiration of this Agreement and will expire seven (7) years from the date of disclosure. 

6.3           Exclusions.  The provisions of Section 6.2 will not apply to any Confidential Information of the disclosing party that: (i) is known by the receiving party prior to the time of disclosure as shown through the receiving party’s written records; (ii) is generally known and available in the public domain or becomes part of the public domain through no fault of the receiving party; (iii) is rightfully received by the receiving party without restriction from a third party that is under no obligation of confidentiality to the disclosing party as shown through the receiving party’s written records, or (iv) was independently developed by or for the receiving party by persons without access to any Confidential Information of the disclosing party as can be properly documented in the receiving party’s written records.  In addition, the receiving party may disclose Confidential Information of the disclosing party to a court or other government body of competent jurisdiction when required to do so by such body, provided it uses reasonable efforts to give prior notice to the disclosing party and to limit disclosure to that which is legally required.

7. Warranty and Warranty Disclaimers

7.1           Limited Warranty. Certara Portugal warrants that the Work will be provided in a workman-like and professional manner by personnel of Certara Portugal having a level of skill in the area commensurate with the requirements of the scope of Work to be performed and that it has full and sufficient authority to grant the license in Section 5.3.

7.2           Debarment.  Certara Portugal represents and warrants that neither it nor any of its employees, agents or subcontractors performing Work under this Agreement is or shall be during the term of this Agreement debarred pursuant to section 306 of the United States Food Drug and Cosmetics Act, 21 U.S.C. § 335a.

7.3.          Disclaimer of Warranties. Except as specifically provided herein and to the extent permitted by law, Certara Portugal disclaims all other warranties, express or implied, with regard to the Work, Deliverables, or any other items provided under this Agreement, including all implied warranties of merchantability, fitness for a particular purpose, title, and non-infringement.No oral or written information or advice given by Certara Portugal or its employees or agents shall increase the scope of the express limited warranty or create any new warranties.  

 

  

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8.  Indemnification

Certara Portugal hereby agrees to indemnify, defend and hold harmless Customer and its officers, directors, agents and employees from and with respect to any and all claims of any kind based on any grossly negligent act or omission or willful misconduct of Certara Portugal or any of Certara Portugal’s Agents under or in connection with Certara Portugal’s obligations hereunder. 

9. Liabilities and Limitation of Liability

9.1          Each party shall be responsible for the acts, omissions or any breach of this Agreement by its clients, Agents or any other third party to which a party discloses any Confidential Information of the other party.

9.2           Except with respect to damages arising from a party’s breach of its obligations under Sections 6.2 or 10.3, in no event shall either party be liable for any indirect, incidental, punitive, special, or consequential damages, including, but not limited to, damages for lost profits or business interruption, even if such party has been advised of the possibility of such damages and regardless of the form of action.  Customer agrees that, except with respect to damages arising from Certara Portugal’s breach of its obligations under Section 6.2 Certara Portugal’s total aggregate liability under a given Work Order, regardless of the form of action, shall not exceed two times the total contract price specified in the Work Order under which the given claim has arisen.  In no event shall Certara Portugal be liable for loss of data or records of Customer, it being understood that Customer shall be responsible for ensuring proper and adequate back-up and storage procedures.  In no event shall Certara Portugal be liable to Customer or any third-party for any claims arising out of Customer’s conclusions or interpretations reached from Customer’s use of any Deliverable or other information provided to Customer by Certara Portugal. Customer shall defend and indemnify Certara Portugal for any costs, damages, and expenses arising out of third-party claims based on such use. This Section shall be given full effect even in the event that any express warranty provided by Certara Portugal in this Agreement is deemed by an arbitrator or court of competent jurisdiction to have failed of its essential purpose. Customer acknowledges that the terms of this Section reflect the allocation of risk set forth in this Agreement and that Certara Portugal would not enter into this Agreement without these limitations on liability.

10. General

10.1        Entire Agreement; Modifications.  This Agreement, including any Work Orders or exhibit hereunder, constitutes the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior representations, proposals, discussions, and communications, whether oral or in writing. Any subsequent statement or representation by any Certara Portugal employee that purports to amend or modify the terms of this Agreement or create additional terms, shall be null and void. This Agreement may be amended only in writing and executed by a duly authorized representative of each party.

10.2        Publicity.  Certara Portugal and Customer will cooperate with each other with respect to the drafting, approval and issuance of a press release or other public announcement related to this Agreement. In addition, Customer agrees that Certara Portugal may identify Customer, including the category of products and project work provided by Certara Portugal, in presentations to other customers, potential customers, investors, analysts, etc.  Except as set forth in this paragraph, Certara Portugal will not use Customer’s name in advertising or marketing material without Customer’s prior written consent.  Neither party will release any information about the terms of this Agreement without the other party’s prior written consent except that either party may make any disclosures concerning this Agreement or its business relationship with the other party that are, in the opinion in its counsel, required under SEC regulations or any other laws or regulations to which such party may be subject.  The parties agree that any papers, articles, or public presentations which incorporate information related to any Work provided under this Agreement, or incorporates and references the other parties’ intellectual property must be approved in writing by the other party prior to its publication or presentation.

10.3        Nonsolicitation of Employees.  Customer acknowledges that Certara Portugal makes significant investments in time and expense for the recruiting, training and development of the professionals who will perform the Work hereunder.  Customer agrees that during the Term of this Agreement and for a period of two (2) years after the expiration or termination (for any reason whatsoever), neither Customer nor any of its affiliates that (i) have obtained Work hereunder, (ii) have used or utilized any of the Work or Deliverables provided hereunder or (iii) have use or utilized any Certara Portugal-IP or Certara Portugal-IP Improvements sublicensed hereunder (collectively, “Customer Parties” and each a “Customer Party”), will not hire, contract with, solicit the employment or contracting of or otherwise accept any services from, directly or indirectly, any of Certara Portugal’s or any Certara Portugal affiliate’s personnel or contractors who are performing or who have performed Work under this Agreement without prior discussion and agreement with Certara Portugal.  To the extent any Customer Party fails to comply with such obligation, Customer shall pay Certara Portugal an amount equal to the individual’s total compensation from Certara Portugal and/or any Certara Portugal affiliate for the two (2) year period immediately preceding the hiring, contracting with or solicitation of any such personnel.

 

  

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10.4        Notices.  Any notice required or permitted hereunder must be in writing, and will be effective on the date of delivery when delivered personally, the next business day after dispatch when sent by Federal Express or other recognized overnight courier service, or the fifth business day after dispatch when sent by certified mail (airmail if overseas), postage prepaid, return receipt requested.  Notices should be addressed to Certara Portugal at the address shown below and to Customer at the address shown below:

 

Certara, L.P.-Sucursal em Portugal

Rua Dr. Brito Câmara 20, 1st Floor

9000-039 Funchal, Madeira, Portugal

Attention: Director

Phone: +351 291 226223

 

With a copy to:

Pharsight Corporation

210 N. Tucker Blvd.

Suite 350

St. Louis, MO 63101

Attention:  Chief Financial Officer

Phone: (314) 647-1099

Fax: (314) 647-9241

 

Prana Biotechnology Ltd

Address: Level 2, 369 Royal Parade, Parkville Victoria 3052 Australia

Attn: Dianne Angus

Phone:+ 61 3 9349 4906

 

10.5        Force Majeure.  Neither party will be liable to the other for any failure or delay caused by events beyond such party’s control, including, without limitation, the other party’s failure to furnish necessary information, sabotage, riots, insurrections, fires, flood, storm, explosions, war, power interruption, or earthquakes.

10.6        Assignment.  Neither party may assign this Agreement or delegate any of its obligations hereunder without the prior written consent of the other party; provided, however, that (i) any party may assign this Agreement to a successor corporation upon notice to other party in the event of a merger or acquisition of all or substantially all of its assets and (ii) Certara Portugal may assign any of its rights or delegate any of its obligations hereunder to one or more of its subsidiaries or affiliates without the Customer’s consent.  The parties hereby acknowledge and agree that should Certara Portugal so choose any subsidiary or affiliate of Certara Portugal’s may execute and/or provide Work under any Work Order.

 

10.7    Subcontractors. Except for Certara Portugal’s affiliates who are listed on the particular Work Order with whom Certara Portugal may freely subcontract, without consent from or notice to Customer, Certara Portugal may retain subcontractors to provide Work with Customer’s prior written consent, and Customer agrees to cooperate with such subcontractors to the same extent that Customer would cooperate with Certara Portugal. Certara Portugal shall remain responsible for the Work performed by any of its subcontractors (including its affiliates) to the same extent as if such Work were being performed by Certara Portugal itself.

10.8        Injunctive Relief.  The parties agree that a breach of Sections 5, 6 or 10.3, or the scope of any of the sublicenses granted hereunder, may result in irreparable and continuing damage to the non-breaching party for which there may be no adequate remedy at law, and such party is therefore entitled to seek injunctive relief as well as such other relief as may be appropriate.

10.9        Governing Law.  All questions concerning the validity, operation, interpretation, and construction of this Agreement will be governed by and determined in accordance with the laws of State of Delaware, excluding any choice of law rules which may direct the application of the laws of another jurisdiction. The parties agree that the United Nations Convention on Contracts for the International Sale of Goods is specifically excluded from application to this Agreement.

10.10      Jurisdiction; Venue. Any legal action or proceeding with respect to this Agreement or any document related hereto may be brought in the courts State of Delaware or any Court of the United States of America in the District of Delaware and, by execution and delivery of this Agreement, each party hereby accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of such courts.  The parties irrevocably waive any objection, including any objection to the laying of venue or based on the grounds of Forum Non Conveniens, which any of them may now or hereafter have to the bringing of any such action or proceeding in such respective jurisdictions.  Each party irrevocably consents to the service of process of any of such courts in any such action or proceeding by the mailing of copies thereof by registered or certified mail, postage prepaid, to each of the other parties at its address provided herein, such service to become effective 30 days after such mailing.

 

  

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10.11      Severability.  If a court of competent jurisdiction determines that any provision of this Agreement is invalid, illegal, or otherwise unenforceable, such provision shall be enforced as nearly as possible in accordance with the stated intention of the parties, while the remainder of this Agreement shall remain in full force and effect.  To the extent any provision cannot be enforced in accordance with the stated intentions of the parties, such provision shall be deemed not to be a part of this Agreement.

10.12      Counterparts.  This Agreement may be executed in any number of counterparts, all of which together will constitute one and the same instrument.  For purposes of this Agreement, a document (or signature page thereto) signed and transmitted by email, facsimile machine or telecopier is to be treated as an original document.  The signature of any party thereon, for purposes hereof, is to be considered as an original signature, and the document transmitted is to be considered to have the same binding effect as an original signature or an original document.  No party may raise the use of email, a facsimile machine or a telecopier or the fact that any signature was transmitted through the use of email, a facsimile machine or a telecopier as a defense to the enforcement of this Agreement or any amendment or other document executed in compliance with this Section.

In Witness Whereof, the parties, intending to be bound thereby, have caused this Agreement to be executed by their duly authorized representatives as of the Effective Date

 

Certara LP-Sucursal em Portugal

By:______________________________

Name: ___________________________

Title: ____________________________

Date:  __________________________

 

	
Prana Biotechnology Ltd

By: ______________________________

Name: Dianne Angus

Title: Chief Operating Officer

Date: ____________________________

 

Invoice Address:

    Level 2, 369 Royal Parade, Parkville

    Victoria 3052 Australia

    Attention: Carolyn Stone

Attachments:

Attachment A – Work Order Template

 

  

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ATTACHMENT A

 

WORK ORDER TEMPLATE

 

WORK ORDER No. __

 

This Work Order No. __ (“Work Order”) made and entered into as of the date of the last party to sign (the “OrderEffective Date”), by and between Prana Biotechnology Ltd. (“Customer”), and Certara, L.P. via its branch, Certara LP-Sucursal em Portugal, along with its affiliates on behalf of Certara Portugal Consulting Services (“Certara Portugal”). Customer and Certara Portugal have previously entered into the Master Services Agreement dated as of ____________, 2015 (the “Agreement”), pursuant to which Certara Portugal, upon Customer’s request, may perform Work described more fully in the Work Order (as defined in the Agreement) from time to time on terms and conditions set forth in the Agreement and the Work Order;

 

WHEREAS, Customer wishes to retain the services of Certara Portugal to provide a program of tactical or strategic research, PK/PD analysis, biostatistics, training, and/or development in the area of computer-assisted preclinical and/or clinical trial design and modeling pertaining to  _________________________________on terms and conditions set forth in the Agreement and this Work Order; and

 

WHEREAS, Certara Portugal is willing to provide such services to Customer in accordance with the terms and conditions of the Agreement and this Work Order.

 

NOW, THEREFORE, for good and valuable consideration, the exchange, receipt and sufficiency of which are acknowledged, the parties hereby agree as follows:

 

1.        Services. 

 

Subject to the terms and conditions set forth in the Agreement, Certara Portugal shall perform Work as set forth in the Work Plan Proposal entitled ________________ attached as Exhibit A and incorporated herein by reference (“Work”).  Certara Portugal shall provide said Work in compliance with this Work Order, Certara Portugal’s Standard Operating Procedures, as applicable, and notwithstanding anything contained herein to the contrary, the Agreement.

 

2.             Affiliates Performing Work.

 

Pursuant to Section 10.7 of the Agreement, the following affiliates of Certara Portugal may be providing some of all of the Work under this Work Order:

 

[Insert information about affiliates who may perform Work].

 

Pharsight Corporation

Pharsight International UK Limited

Pharsight Canada Corporation

Pharsight International France Sarl,

Simcyp Limited

 

3.             Compensation and Payment.

 

For its performance under this Work Order, Certara Portugal shall receive compensation as set forth in Exhibit A and incorporated herein by reference.  Certara Portugal shall invoice Customer as set forth in Exhibit A.

 

  

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[NOTE: INSERT IF APPLICABLE If Customer pays, or has paid, an upfront payment under this Work Order (prior to the commencement of any Work under this Work Order) and this Work Order is terminated prior to the same being completed or if Customer never requests any Work under this Work Order to be performed (regardless of whether such Work Order is formally terminated or not), any unearned or unexpended portion of such upfront payment monies paid by Customer to Certara Portugal shall be nonrefundable and shall be retained by Certara Portugal.]

 

Pursuant to Section 4.2 of the Agreement, Customer shall reimburse Certara Portugal for the following expenses:

 

[Insert any expenses that will be incurred].

 

4.             Term and Termination.

 

The term of this Work Order shall commence as of the Order Effective Date and shall end upon receipt on of the final payment from Customer after completion of the Work unless earlier terminated in accordance with the Agreement.

 

5.             Entire Work Order.

 

This Work Order and the Agreement represent the complete and entire understanding between the parties regarding the subject matter hereof and thereof and supersede all prior negotiations, representations or agreements, either written or oral with respect to the subject matter hereof and thereof.

 

IN WITNESS THEREOF, this Work Order has been executed by the parties hereto through their duly authorized officers as of the date set forth below.

 

[Template for illustration purpose only – signature is not required below]

 

ACCEPTED:

	

Certara LP-Sucursal em Portugal

 

By:_____________________________ 

 

Name: ______________________________

 

Title:  ______________________________

 

Date: ______________________________                   

	 	

Prana Biotechnology Ltd

 

By:_____________________________ 

 

Name: ______________________________ 

 

Title:  ______________________________

 

Date: ______________________________

 

  

Page 9

  

 

EXHIBIT A

 

[Insert Work Plan Proposal]

 

Page 10exhibit_4-18.htm

Exhibit 4.18

 

D3 MEDICINE LLC

 

MASTER SERVICES AGREEMENT

 

This Master Services Agreement (this “Agreement”),  effective 17 March, 2015 (the “Effective Date”), is entered into by and between d3 Medicine LLC, a limited liability company having offices at 4 Century Drive, 2nd Floor, Parsippany, NJ  07054, United States of America (“d3”) and Prana Biotechnology Ltd ACN 080 699 065, a limited liability company having offices at Level 2, 369 Royal Parade, Parkville Victoria 3052 (“Client”) (each herein referred to individually as a “Party,” or collectively as the “Parties”).  In consideration of the covenants and conditions contained herein, the Parties hereby agree to the following:

 

1.             Services

 

A.           Services. Subject to the terms and conditions of this Agreement, during the term of this Agreement, d3 shall provide to Client the services described in one or more Statements of Work that reference this Agreement (each, an “SOW,” and such services, the “Services”). The SOW will include, as appropriate, the scope of work, timeline, budget and payment schedule. For each SOW, d3 will designate a project leader who will be available for frequent communications with Client regarding the Services provided under that SOW (the “Project Leader”). For each SOW, Client will designate a Client Contact who will be the point of contact for the Project Leader (the “Client Contact”). Each SOW, upon execution by both Parties, will be subject to the terms and conditions of this Agreement. If there is a conflict between the terms of this Agreement and the terms of an SOW, the terms of this Agreement will control unless the SOW states that a specific provision of this Agreement will be superseded by a specific provision of the SOW.

 

B.           Changes in Services. Subject to Section 3 (B)(i), neither Party shall change or deviate from an SOW without the prior written consent of the other Party. Unless otherwise specified in an SOW, either Party may reasonably request in writing that revisions be made with respect to the Services or deliverables set forth in that SOW (“Change Order”).  Both Parties will then act promptly and in good faith to consider the Change Order. If a Change Order recites revisions that materially increase or decrease the scope of the Services or the effort required to deliver deliverables under the applicable SOW, then within 10 business days after d3’s receipt or provision of the Change Order, as applicable, d3 will deliver to Client a written, revised SOW reflecting d3’s reasonable determination of the revised Services, deliverables, delivery schedule and payment schedule, if any, that will apply to the implementation of the revisions. If Client approves the revised SOW, then the Parties will execute it, and upon execution, the revised SOW will supersede the then-existing SOW. If Client does not approve the revised SOW within ten business days after its receipt by Client, then subject to the Client’s rights under Section 3 (B)(i), the then-existing SOW will remain in full force and effect, and d3 will have no further obligation with respect to the applicable Change Order.  Notwithstanding the above Change Order procedure, the Parties acknowledge and agree that d3 will continue its performance of all those Services which remain unaffected by a Change Order.

 

C.           Non-Exclusive. The Services performed for Client are not exclusive to Client and d3 shall continue to be free to perform similar services for other clients, including competitors of Client, using general knowledge, skills, and experience along with concepts, techniques, and know-how used in the performance of the Services.

 

  

  

  

 

2.             Fees and Billing

 

A.          Fees. Client shall pay all fees due according to each SOW (the “Services Fees”). Unless otherwise agreed in a particular SOW, d3 will invoice Client monthly for the fees and expenses specified below) incurred in performing the Services and payment is due within 30 days of the date of the applicable invoice. If any portion of an invoice is disputed, then Client shall pay the undisputed amounts within 30 days of the date of the applicable invoice and the Parties shall use good faith efforts to reconcile the disputed amount as soon as practicable.

 

Expenses. For each SOW, Client will reimburse d3 for: (i) the reasonable actual travel and living expenses of d3’s personnel engaged in the performance of Services at locations other than d3 facilities; and (ii) all other out-of-pocket expenses payable to d3 according to the SOW.  For Client business, d3’s personnel shall fly economy class unless the flight time is greater than 6 hours in which case they may take competitively priced business class flights. d3 agrees to provide Client with copies of such receipts and other records as may be reasonably necessary for Client to verify the amount and nature of any expenses claimed by d3.

 

B.           Billing and Payment Terms. Any undisputed amount not paid when due will be subject to finance charges equal to 1.5% per month or the highest rate permitted by applicable law, whichever is less, determined and compounded daily from the date due until the date paid. Client will also reimburse any costs or expenses (including, but not limited to, reasonable attorneys’ fees) incurred by d3 to collect any amount that is not paid when due.

 

C.           Taxes. Other than federal and state net income taxes imposed on d3, Client will bear all taxes, duties, and other governmental charges (collectively, “taxes”) resulting from this Agreement. Unless otherwise specified in the applicable SOWs, the Service Fees payable to d3 under this Agreement do not include any taxes or other amounts assessed or imposed by any governmental authority.

 

3.             Term and Termination

 

A.          Term. This Agreement will be effective commencing on the Effective Date and will continue in effect thereafter for 5 years (or until each Party’s obligations under any then current SOW have been fulfilled), unless and until terminated according to the provisions of this Section ‎3. This Agreement may otherwise be extended by agreement of the Parties in writing. Each SOW will commence on the specified effective date and will continue until each Party’s obligations under the SOW have been fulfilled or the SOW is terminated as provided in this Section ‎3.

 

B.           Termination.

 

(i)       For Convenience. Client may terminate all or any part of an SOW for convenience by giving d3 at least 30 days’ written notice.

 

(ii)      Notice of Material Breach. If either Party commits a material breach in the performance of any of its obligations under any SOW, the other Party may give the breaching Party written notice specifying the nature of the breach and the non-breaching Party’s intent to terminate the applicable SOW pursuant to this Section ‎3.B(ii) if the breach is not cured within 30 days after the date of the notice (or a later date as may be specified in the notice). Without limitation, any failure by Client to timely pay to d3 any amounts to be paid under an SOW will constitute a material breach of this Agreement, and d3 may, without limitation of any of its other rights and remedies available, suspend performance of any Services under that SOW during any time that Client fails to pay any amounts owed to d3. If the breaching Party fails to cure any material breach specified in such notice within 30 days after the date of the notice (or a later date as may be specified in the notice), then the non-breaching Party may terminate the SOW covering the Services with respect to which the breach or default occurred by giving the breaching Party written notice of termination.

 

  

Page 2 of 11

  

 

(iii)     Effect of Termination. If any SOW is terminated by notice (“termination notice”) in accordance with this Section ‎3, then, unless otherwise specifically provided for in the applicable SOW, the following will apply: (a) as and from the date of the termination notice, the Parties will cooperate to effect an orderly, efficient, effective and expeditious termination of the Parties’ respective activities under the terminated SOW. d3 shall perform any Services which Client agrees shall be performed by d3 during any applicable notice period at the level warranted by d3 in section 5A; (b) d3 will have no obligation to perform any Services under the terminated SOW after the date when the SOW  terminates pursuant to the termination notice; (c) Client will pay to d3 any Service Fees and other amounts payable for the Services performed under the terminated SOW through the effective date of the termination; (d) any and all liabilities (including non-cancelable costs) accrued pursuant to the SOW prior to the effective date of the termination will survive; and (e) the Parties’ respective rights and obligations under Sections ‎2, ‎4, ‎5.B, ‎6, ‎7, ‎10 and ‎11 of this Agreement with respect to any Services covered by the terminated SOW will survive.

 

C.           Return of Materials. Upon the termination of this Agreement, or upon Client’s earlier request, d3 will, at Client’s election, deliver to Client or destroy (with proof of such destruction) all Client Materials (as defined in Section ‎4.A) that are in d3’s possession or control.

 

4.             Ownership/Use of Materials

 

A.           Client Materials. Any data, results, analyses, papers, records, notes, reports, documents or other materials provided by Client to d3 (“Client Materials”) will form part of Client’s Confidential Information (as that term is defined in Section 7) and be used and may only be disclosed by d3 strictly in in accordance with Section 7 solely as required to perform the Services. As between d3 and Client, Client owns the Client Materials. d3 will take reasonable steps to maintain the confidentiality of the Client Materials in accordance with Section 7.

 

B.           Work Product. For the purpose of this Section 4.B and Section 4C: (i) “Technology” means works of authorship, inventions, discoveries, know how, technology,  improvements, methods, processes, formulas, designs, techniques and scientific and technical information; and (ii) “Work Product” means(a) Technology conceived, discovered, developed or otherwise made by d3, solely or in collaboration with others, in the course of performing the Services; and (b)  reports, advices, analyses and other deliverables supplied by d3 to Client pursuant to an SOW (Deliverables) together with  related  research, research notes, reports, content, diagrams, presentations and presentation materials produced or developed as part of the Services.  The Work Product and all intellectual property rights throughout the world subsisting in the Work Product will be the sole property of Client. For the avoidance of doubt, Work Product does not include the following which is and shall be the sole property of d3 (collectively “d3 IP”): all Technology owned, developed or obtained by or on behalf of d3: (i)  prior to the Effective Date; or (ii) independent of this Agreement and without the use of the Client Materials or other  Client Confidential Information.

 

C.           d3 hereby grants to Client a non-exclusive, perpetual, worldwide, royalty-free, transferable license of all d3 IP contained in any Work Product provided by d3 to Client under the applicable SOW  to the extent necessary to enable Client to use, copy, modify, and prepare derivative works of the Work Product for its business purposes.

 

D.           Third Party Products. Any third party products that are provided by d3 in connection with the Services are provided pursuant to the terms of the applicable third party agreement. d3 assumes no responsibility for, and specifically disclaims any liability or obligation with respect to, any third party products.

 

  

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E.           Miscellaneous.  The material and observations contained in research publications and all Deliverables have been developed from sources believed to be reliable; however, d3 shall have no liability for omissions or errors and no obligation to revise or update any data or conclusions should new information become available or future events occur. The opinions expressed in such reports are subject to change without notice.

 

5.             Warranty and Disclaimer

 

A.           Warranty. d3 warrants that d3 will perform the Services in a professional and workmanlike manner in accordance with generally acceptable industry practices and pursuant to the description in the applicable SOW. Client’s sole remedy and d3’s sole obligation pursuant to this warranty shall be for Client to notify d3 in writing of any alleged warranty defect within 30 days after the defective services were performed, and d3 shall use reasonable efforts to re-perform the non-conforming Services.

 

B.           Disclaimer. EXCEPT AS PROVIDED IN SECTION ‎5.A, THE SERVICES ARE PROVIDED ON AN “AS IS” BASIS, AND CLIENT'S USE OF THE PRODUCT OF THE SERVICES, INCLUDING ANY WORK PRODUCT OR DELIVERABLES, IS AT ITS OWN RISK. d3 DOES NOT MAKE, AND HEREBY DISCLAIMS, ANY AND ALL OTHER WARRANTIES, WHETHER EXPRESS, IMPLIED OR OTHERWISE, TO ANY PERSON OR ENTITY WITH RESPECT TO THE SERVICES AND MATERIALS PROVIDED HEREUNDER, INCLUDING WITHOUT LIMITATION WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, QUALITY, ACCURACY, NONINFRINGEMENT OR TITLE, AND ANY WARRANTIES ARISING FROM A COURSE OF DEALING, USAGE OR TRADE PRACTICE. d3 WILL NOT HAVE THE RIGHT TO MAKE OR PASS ON ANY REPRESENTATION OR WARRANTY ON BEHALF OF d3 TO ANY THIRD PARTY. d3 DOES NOT WARRANT THAT THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE.

 

6.             Limitation of Liability

 

NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED IN THIS AGREEMENT, d3 WILL NOT, UNDER ANY CIRCUMSTANCES, BE LIABLE TO CLIENT FOR CONSEQUENTIAL, INCIDENTAL, SPECIAL, INDIRECT, OR EXEMPLARY DAMAGES ARISING OUT OF OR RELATED TO THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO LOST PROFITS OR LOSS OF BUSINESS, EVEN IF d3 IS APPRISED OF THE LIKELIHOOD OF THESE DAMAGES OCCURRING. UNDER NO CIRCUMSTANCES WILL d3’S TOTAL LIABILITY OF ALL KINDS ARISING OUT OF OR RELATED TO THIS AGREEMENT AND A GIVEN SOW (INCLUDING BUT NOT LIMITED TO WARRANTY CLAIMS), REGARDLESS OF THE FORUM AND REGARDLESS OF WHETHER ANY ACTION OR CLAIM IS BASED ON CONTRACT, TORT, OR OTHERWISE, EXCEED THE TOTAL CONTRACT AMOUNT PAYABLE  BY CLIENT TO d3 UNDER THE SOW FOR ALL SERVICES SPECIFIED IN THE SOW. THIS SECTION 6 WILL NOT APPLY IN RELATION TO BREACHES BY d3 OF SECTION 7.

 

  

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7.             Confidentiality

 

A.           Confidential Information. Each Party acknowledges that it will have access to certain scientific, technical and business information that the other Party desires to have treated as confidential, including information regarding products, trials, studies, services, customers or the financial or business operations of the Party. “Confidential Information” means any information disclosed to one Party by the other Party, directly or indirectly, in oral, written, machine readable or other tangible form (including documents, prototypes, samples, or plans) and may also include information disclosed to the disclosing Party by third parties. Except as expressly permitted by this Agreement, each Party shall hold in strict confidence and not use in any way, for its own account or the account of any third party, nor disclose to any third party (except as required by law) any of the other Party's Confidential Information and shall take reasonable precautions to protect the confidentiality of such information.. Each Party acknowledges and agrees that any Confidential Information received or obtained from the other Party will be the sole and exclusive property of the disclosing Party and shall not be used, disseminated or disclosed except to its employees, consultants or sub-contractors on a need to know basis (and provided such disclosees are placed under confidentiality obligations no less onerous than those set out in this Agreement) solely as may be necessary to perform the obligations required under this Agreement. Each Party further agrees to use the same degree of care, but no less than a reasonable degree of care, to protect against the unauthorized disclosure of Confidential Information as it uses to protect its own Confidential Information. The receiving Party shall not remove proprietary notices of the disclosing Party from Confidential Information. The confidentiality obligation will remain in-force for a period of 7 years from the date of disclosure of the applicable Confidential Information.

 

B.           Exceptions to Confidentiality. The receiving Party shall have no obligation under this Agreement as to information that: (i) is known to the receiving Party at the time of disclosure without an obligation of confidentiality; (ii) is independently developed by the receiving Party without reference to or use of the disclosing Party’s Confidential Information; (iii) becomes known to the receiving Party from another source without confidentiality restriction on subsequent disclosure or use; (iv) is or becomes part of the public domain through no wrongful act of the receiving Party; or (v) is disclosed pursuant to any judicial or governmental request or order; provided that the receiving Party takes reasonable steps to give the disclosing Party sufficient prior written notice so that the disclosing Party may seek (with the reasonable cooperation of the receiving Party and at the disclosing Party’s expense) a protective order to contest or limit the scope of such request or order as much as possible, (however, the obligation to otherwise keep the Confidential Information confidential from other Parties shall not be abrogated by such request or order).

 

8.             Publicity and Marketing

 

Except in relation to any communication required to be made by a Party pursuant to applicable law, court order, stock exchange rule, governmental order, decree, regulation or rule or the requirement of any regulatory authority, each Party agrees not to use the other Party’s name in any of its external communications (e.g., advertising, marketing or sales materials or in documentation seeking financial assistance such as a prospectus) without the prior written consent of the other Party.  For any permitted communication, each Party acknowledges that the other Party may refer to it by trade name and trademark solely for the purpose of such communication.

 

9.             Client Cooperation

 

In order for d3 to perform its obligations, Client must provide d3 with full, good faith cooperation and timely access to such information as may be required by d3 in order to render the Services, including but not limited to providing correct, accurate and complete data, office accommodations, facilities, equipment, and security access; personnel assistance as may be reasonably requested by d3 from time to time; cooperation with d3, making decisions and communicating information in a timely manner to enable d3 to provide the Services in accordance with the applicable SOW.

 

  

Page 5 of 11

  

 

Client acknowledges and agrees that d3’s performance of Services is both contingent and dependent upon Client’s cooperation. Accordingly, Client acknowledges that any unreasonable delay by Client may result in d3 being released from an obligation or schedule deadline or in Client having to pay extra Services Fees in order for d3 to meet a specific obligation or deadline despite the delay.

 

10.           Independent Contractor

 

A.           d3 and Client are independent contractors and this Agreement will not establish any relationship of partnership, joint venture, employment, franchise, or agency between d3 and Client. Neither d3 nor Client will have the power to bind the other or incur obligations on the other’s behalf without the other’s prior written consent, except as otherwise expressly provided herein. Client is not responsible for withholding or deducting from the compensation of d3’s employees, agents and subcontractors, any sums for federal or state income taxes, social security, unemployment compensation, medical, dental, workers’ compensation or disability insurance coverage, pension or retirement plans or the like. d3 specifically agrees to pay any and all federal and state taxes and other payments lawfully due in connection with the compensation it receives under this Agreement.

 

11.           General Terms

 

A.          Government Regulations. Client shall not export, re-export, transfer or make available, whether directly or indirectly, any regulated item or information to anyone outside the U.S. in connection with this Agreement without first complying with all export control laws and regulations which may be imposed by the U.S. Government and any country or organization of nations within whose jurisdiction Client operates or does business.

 

B.           Assignment and Subcontracting. Neither Party may assign its rights under this Agreement either in whole or in part, including as part of any consolidation, merger, or sale of substantially all of its assets, without the prior written consent of the other Party, which consent shall not be unreasonably withheld. Any attempted assignment without such consent will be void. This Agreement will bind and inure to the benefit of each Party's successors and permitted assigns. d3 must not subcontract all or any part of the Services without the prior written consent of Client. d3 shall remain responsible for any Services performed by any subcontractors to the same extent as if such Services were being performed by d3 itself.

 

C.           Force Majeure. Except for the obligation to pay money, neither Party will be liable for any failure or delay in its performance under this Agreement due to any cause beyond its reasonable control, including act of war, acts of God, earthquake, flood, embargo, riot, sabotage, labor shortage or dispute, governmental act or failure of the Internet, provided that the delayed Party: (i) gives the other Party prompt notice of such cause, and (ii) uses its reasonable commercial efforts to correct promptly such failure or delay in performance.

 

D.           Governing Law. This Agreement will be construed pursuant to the substantive law of the State of Victoria, Australia without giving effect to conflicts of laws rules that would result in the application of the laws of another jurisdiction

 

E.           Dispute Resolution. The Parties agree that any dispute or controversy arising out of, in relation to, or in connection with this Agreement, or the making, interpretation, construction, performance or breach hereof, shall be finally settled by the Courts of Victoria Australia.

 

  

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F.           Non-Solicitation of Employees. Each Party agrees not to directly solicit the employment of any personnel from either Party or directly encourage such personnel to leave either Party during the period of and for one year after the termination of the last to terminate of the SOWs entered into hereunder. The foregoing restriction shall not apply to those employees of either Party who respond on their own accord to general advertisements of employment by either Party.

 

G.           Notices. All notices, consents or other communications provided for under this Agreement will be in writing and will be deemed given if delivered by overnight courier (effective on the date of delivery), or by confirmed fax (effective on the business day after the date sent) or by registered or certified mail, return receipt requested, postage prepaid (effective on the date of receipt). Until notice of change of address has been given in the manner provided in this paragraph, notices will be sent to the notice address set forth below.

 

If to d3:

 

D3 Medicine LLC

 

Attention:  Leigh Farrell, Chief Operating Officer

 

Address:  Monash Institute of Pharmaceutical Sciences, 381 Royal Parade, Parkville Victoria 3052

 

Fax: TBA

 

If to Client:

 

Prana Biotechnology Ltd

 

Attention: Dianne Angus, Chief Operating Officer

 

Address: Level 2, 369 Royal Parade, Parkville Victoria 3052

 

Fax:  +61 3 9348 0377

 

H.           Modification and Waiver. This Agreement may not be modified or amended except in writing which is signed by authorized representatives of each of the Parties. Either Party's failure to exercise any right or the waiver by either Party of any breach will not prevent a subsequent exercise of such right or be deemed a waiver of any subsequent breach of the same or any other term of the SOW.

 

I.             Severability. Each provision of this Agreement is intended to be severable and if any provision is determined by a court of competent jurisdiction to be illegal or invalid or unenforceable for any reason whatsoever, such provision will be severed from this Agreement and will not affect the legality or validity or enforceability of the remainder of this Agreement or any other provision hereof.

 

J.            Entire Agreement. This Agreement, including all documents incorporated herein by reference, constitutes the complete and exclusive agreement between the Parties with respect to the subject matter hereof, and supersedes and replaces any and all prior or contemporaneous discussions, negotiations, understandings and agreements, written and oral, regarding such subject matter. This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which together shall constitute one and the same instrument.

 

  

Page 7 of 11

  

 

[Remainder of this page left blank intentionally; signature page follows.]

 

  

Page 8 of 11

  

 

IN WITNESS WHEREOF, the Parties by their duly authorized representatives have executed this Agreement as of the Effective Date.

 

	
D3 MEDICINE, LLC

 

	 	
PRANA BIOTECHNOLOGY LTD

	
By:           

	 	 	
By:

	 
	 	 	 	 	 
	
Name:           

	 	 	
Name:           

	 
	 	 	 	 	 
	
Title:           

	 	 	
Title:           

	 

 

  

Page 9 of 11

  

 

APPENDIX A

 

Statement of Work

 

d3 Medicine, LLC of 4 Century Drive, 2nd Floor, Parsippany, NJ  07054, United States of America (“d3”)

 

and

 

[Client Name] of [client address]

 

RECITALS

	
  

	
1)

	
This Statement of Work made on [insert date] (the “SOW Date”) is entered into pursuant to the terms and conditions of the Master Services Agreement between the Parties dated [insert execution date of MSA].

 

	
Project Name

	  
	
Project Definition

	  
	
Project Deliverables

	  
	
Duration

	  
	
Hourly Rate

	  
	
Per Diem Rate

	  
	
Maximum Fee Cap

	  
	
Travel & Out-of-Pocket Cost Reimbursement

	
Company shall reimburse Consultant for all reasonable travel and out-of-pocket expenses incurred by Consultant in perform­ing Services pursuant to this Agreement that are pre-approved by Company.

 

	
Invoicing

	
d3 will invoice Client monthly for the Services Fees and expenses incurred in performing the Services and Client shall pay each invoice within 30 days of the date of the invoice.  All payments to d3 shall be made as follows.

 

If made by check, payment will be mailed to:

 

d3 Medicine LLC

4 Century Drive, 2nd Floor

Parsippany, NJ  07054

United States of America

 

If made by wire transfer, payment will be wired to:

 

d3 Medicine LLC

Wells Fargo Bank, NA

420 Montgomery City

San Francisco

California 94104

Account number:  5308650281

SWIFT/BIC:  WFBIUS6S

 

RTN/ABA:  121000248

	
d3 Contact Details

	
Name

	
Title

	
Email

	
Telephone

	  	  	  	  
	  	  	  	  
	  	  	  	  
	
Client Contact Details

	
Name

	
Title

	
Email

	
Telephone

	  	  	  	  
	  	  	  	  
	  	  	  	  
	
Payment terms and method

	  
	
Other

	  
	
d3 Project Leader

	
Name

	
Title

	
Email

	
Telephone

	  	  	  	  
	
Client Contact

	
Name

	
Title

	
Email

	
Telephone

	  	  	  	  

 

  

Page 10 of 11

  

 

IN WITNESS WHEREOF, the Parties by their duly authorized representatives have agreed this Statement of Work as of the SOW Date.

 

	
D3 MEDICINE, LLC

 

	 	
PRANA BIOTECHNOLOGY LTD

	
By:           

	 	 	
By:

	 
	 	 	 	 	 
	
Name:           

	 	 	
Name:           

	 
	 	 	 	 	 
	
Title:           

	 	 	
Title:           

	 

 

Page 11 of 11

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