Document:

Exhibit 10.23

 

SECOND AMENDMENT TO THE

COLLABORATION AND LICENSE AGREEMENT

 

This
SECOND AMENDMENT TO THE COLLABORATION AND LICENSE AGREEMENT (“Second Amendment”),
is between DYAX CORP., a Delaware
corporation, having a principal place of business at One Kendall Square, Bldg.
600, Cambridge, Massachusetts 02139 (“Dyax”); and BRACCO
IMAGING S.p.A., an Italian company having its principal place of
business at E. Folli 50, 20134 Milano (“Bracco”).  Dyax and Bracco may be referred to each as a “Party”
or collectively as the “Parties”.  The
Parties hereby agree as follows:

 

RECITALS

 

WHEREAS,
the Parties have previously executed a COLLABORATION AND LICENSE AGREEMENT (“Agreement”),
effective October 31, 2000;

 

WHEREAS,
the Parties have previously executed a FIRST AMENDMENT TO THE COLLABORATION AND
LICENSE AGREEMENT (“First Amendment”), effective January 1, 2004, which, inter alia, extended the Research Term of the Agreement by
another three years;

 

WHEREAS,
the Agreement and First Amendment require, inter alia,
collaboration and cooperation between the Parties in using their respective
technologies and expertise to discover and develop product candidates for use
in diagnostic imaging and certain therapeutic fields;

 

WHEREAS,
the Parties thus each share an identical or substantially identical common
legal interest in obtaining strong, valid and enforceable patents to protect
any and all discoveries and inventions resulting from this collaboration and
cooperation;

 

WHEREAS,
the Parties agree that such identical or substantially identical common legal
interest is best protected by maintaining an open but privileged communication
between or among each of the respective counsels for the Parties;

 

WHEREAS,
the Parties thus wish to add provisions to the Agreement to confirm, memorialize
and ensure that any and all past, present and future communications between or
among their respective counsels are and remain confidential and protected from
disclosure to any third parties by the attorney client privilege;

 

NOW,
THEREFORE, in consideration of the foregoing and the covenants and premises
contained in the Agreement, First Amendment and Second Amendment, the Parties
hereto hereby agree to the following provisions to be added to the Agreement:

 

 

AMENDMENTS

 

New Article 8, Sections 8.4(a) and (b) are hereby
added, which recite:

 

8.4.          Communications Between Or Among Counsels

 

a.             Bracco
and Dyax agree that any and all past, present and future communications,
whether oral, electronic or written, between or among their respective counsels
pertaining to any patent applications, patent rights or any other patent
related issues, are and will remain forever confidential unless agreed
otherwise in writing by both Parties.

 

b.             Bracco
and Dyax agree that any and all past, present and future communications,
whether oral, electronic or written, between or among their respective counsels
pertaining to any patent applications, patent rights or any other patent
related issues, are within the scope of their identical or substantially
identical common legal interest in obtaining strong, valid and enforceable
patents to protect any and all discoveries and inventions, and thus are
protected from disclosure to any third parties by the attorney client
privilege.  Bracco and Dyax further agree
that this attorney client privilege cannot be waived by any one Party without
the written consent of the other Party.

 

c.             Bracco
and Dyax agree that, in the event one Party is subpoenaed or otherwise ordered
by a legitimate government authority to produce the subject of a communication
which was either confidential and/or protected by attorney client privilege,
the producing Party will use all reasonable efforts to maintain the
confidentiality and/or protect the privileged communication from disclosure.  The producing Party will further keep the
other Party informed of all details relating to the production of the subject
confidential and/or privileged communication, including but not limited to
providing a copy of each and every document, paper and/or pleading filed, received
or produced relating to confidential and/or privileged communication.

 

 

	
  DYAX CORP. 

  	
  BRACCO IMAGING S.p.A.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Ivana Magovcevic

  	
   

  	
  By:

  	
  /s/ Petro Mescherpa

  	
   

  
	
   

  	
  Name:  Ivana Magovcevic

  	
   

  	
  Name:  Petro Mescherpa

  
	
   

  	
  Title: 

  	
  Senior Vice President

  	
   

  	
  Title:  Member of Board

  
	
   

  	
   

  	
  Legal Affairs and 

  	
   

  	
   

  
	
   

  	
   

  	
  Chief Patent CounselExhibit 10.1

 

SEPRACOR
INC.

 

Form
of Incentive Stock Option Agreement

Granted
Under 2000 Stock Incentive Plan

 

 

1.             Grant
of Option.

 

This agreement evidences the
grant by Sepracor Inc., a Delaware corporation (the “Company”), on the Grant
Date indicated on the preceding Certificate of Stock Option Grant (the “Certificate”)
to an employee of the Company (the “Participant”), of an option to purchase, in
whole or in part, on the terms provided herein and in the Company’s 2000 Stock
Incentive Plan (the “Plan”), the number o shares (the “Shares”) of common
stock, $.10 par value per share, of the
Company (“Common Stock”), indicated on the certificate at the price per Share indicated on the Certificate. Unless earlier
terminated, this option shall expire on the Grant Expiration Date indicated on
the Certificate (the “Grant Expiration Date”).

 

It is intended that the
option evidenced by this agreement shall be an incentive stock option as
defined in Section 422 of the Internal Revenue Code of 1986, as amended, and any
regulations promulgated thereunder (the “Code”).  Except as otherwise indicated by the context,
the term “Participant”, as used in this option, shall be deemed to include any
person who acquires the right to exercise this option validly under its terms.

 

2.             Vesting
Schedule.

 

This option will become
exercisable (“vest”)  pursuant to the
Vesting Schedule indicated on the Certificate (“Vesting Schedule”).

 

The right of exercise shall
be cumulative so that to the extent the option is not exercised in any period
to the maximum extent permissible it shall continue to be exercisable, in whole
or in part, with respect to all shares for which it is vested until the earlier
of the Grant Expiration Date or the termination of this option under
Section 3 hereof or the Plan.

 

3.             Exercise
of Option.

 

(a)           Form of Exercise. 
Each election to exercise this option shall be in writing, signed by the
Participant, and received by the Company at its principal office, accompanied
by this agreement, and payment in full in the manner provided in the Plan. The
Participant may purchase less than the number of shares covered hereby,
provided that no partial exercise of this option may be for any fractional
share.

 

 

(b)           Continuous Relationship with the Company Required.  Except as otherwise provided in this
Section 3, this option may not be exercised unless the Participant, at the
time he or she exercises this option, is, and has been at all times since the
Grant Date, an employee or officer of, or consultant or advisor to, the Company
or any parent or subsidiary of the Company as defined in Section 424(e) or (f)
of the Code (an “Eligible Participant”).

 

(c)           Termination of Relationship with the Company. If
the Participant ceases to be an Eligible Participant for any reason, then,
except as provided in paragraphs (d) and (e) below, the right to exercise
this option shall terminate three months
after such cessation (but in no event after the Grant Expiration Date), provided
that this option shall be exercisable only to the extent that the Participant
was entitled to exercise this option on the date of such cessation.  Notwithstanding the foregoing, if the
Participant, prior to the Grant Expiration Date, violates the non-competition
or confidentiality provisions of any employment contract, confidentiality and
nondisclosure agreement or other agreement between the Participant and the
Company, the right to exercise this option shall terminate immediately upon
written notice to the Participant from the Company describing such violation.

 

(d)           Exercise Period Upon Death or Disability.  If the Participant dies or becomes disabled
(within the meaning of Section 22(e)(3) of the Code) prior to the Grant
Expiration Date while he or she is an Eligible Participant and the Company has
not terminated such relationship for “cause” as specified in paragraph (e)
below, this option shall be exercisable, within the period of one year
following the date of death or disability of the Participant, by the
Participant (or in the case of death by an authorized transferee), provided
that this option shall be exercisable only to the extent that this
option was exercisable by the Participant on the date of his or her death or
disability, and further provided that this option shall not be exercisable
after the Grant Expiration Date.

 

(e)           Discharge for Cause.  If the Participant, prior to the Grant
Expiration Date, is discharged by the Company for “cause” (as defined below),
the right to exercise this option shall terminate immediately upon the
effective date of such discharge.  “Cause”
shall mean willful misconduct by the Participant or willful failure by the
Participant to perform his or her responsibilities to the Company (including,
without limitation, breach by the Participant of any provision of any
employment, consulting, advisory, nondisclosure, non-competition or other
similar agreement between the Participant and the Company), as determined by
the Company, which determination shall be conclusive.  The Participant shall be considered to have
been discharged for “Cause” if the Company determines, within 30 days after the
Participant’s resignation, that discharge for cause was warranted.

 

4.             Withholding.

 

No Shares will be issued
pursuant to the exercise of this option unless and until the Participant pays
to the Company, or makes provision satisfactory to the Company for payment of,
any federal, state or local withholding taxes required by law to be withheld in
respect of this option.

 

 

5.             Nontransferability
of Option.

 

This option may not be sold,
assigned, transferred, pledged or otherwise encumbered by the Participant,
either voluntarily or by operation of law, except by will or the laws of
descent and distribution, and, during the lifetime of the Participant, this
option shall be exercisable only by the Participant.

 

6.             Disqualifying
Disposition.

 

If the Participant disposes
of Shares acquired upon exercise of this option within two years from the Grant
Date or one year after such Shares were acquired pursuant to exercise of this
option, the Participant shall notify the Company in writing of such
disposition.

 

7.             Provisions
of the Plan.

 

This option is subject to
the provisions of the Plan, a copy of which is furnished to the Participant
with this option.

 

 

IN WITNESS WHEREOF, the Company has caused
this option to be executed under its corporate seal by its duly authorized
officer.  This option shall take effect
as a sealed instrument.

 

	
  SEPRACOR
  INC.

  
	
   

  
	
  By:

  	
   

  

 

 

 

PARTICIPANT’S
ACCEPTANCE

 

The Participant hereby
accepts the foregoing option and agrees to the terms and conditions
thereof.  The Participant hereby
acknowledges receipt of a copy of the Company’s 2000 Stock Incentive Plan.

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