Document:

Unassociated Document

     

    Selling
      Agreement

    Page
      1

     

    EXHIBIT
      10.7

    

    Trans-Pharma
      Corporation

    4225
      Executive Square, Suite 460

    La
      Jolla,
      CA 92037

    

                             September
      17, 2007

    

    Mr.
      Joel
      Padowitz, Chief Executive Officer

    Palladium
      Capital Advisors, LLC

    230
      Park
      Avenue

    Suite
      539

    New
      York,
      NY 10169

    

    RE: 
      Selling
      Agreement

    

    Dear
      Mr.
      Padowitz:

    

    The
      undersigned, Trans-Pharma Corporation, a Nevada corporation ("Corporation"),
      by
      this letter confirms its agreement (the "Agreement") with Palladium Capital
      Advisors, LLC (the "Broker-Dealer" or “you”), regarding
      the
      Broker-Dealer acting as a placement agent in connection with an offering of
      up
      to $5.0 million of units consisting of shares of common stock and warrants
      to
      purchase common stock (the
      "Units") under
      the
      terms set forth in those certain Subscription Agreements, in the form attached
      hereto as Exhibit
      A,
      and all
      exhibits and supplements thereto (the "Offering Materials") prepared by
      Corporation and delivered to you for distribution to the offerees. The Units
      are
      to be offered on a "Best Efforts, Minimum- Maximum" basis with respect to all
      Units. The Units will be offered and sold in accordance with 17 CFR 203.506
      ("Rule 506"), promulgated under Regulation D of the Securities Act 1933, as
      amended.

    

    Upon
      execution and delivery of subscription documents (the "Subscription Documents"),
      which shall be in the form of the Subscription Documents included in the
      Offering Materials, the subscribers for Units shall, upon acceptance thereof
      by
      Corporation (which acceptance shall be in Corporation’s sole discretion), become
      Unit Holders pursuant to the terms set forth in the Offering Materials. The
      offering of the Units shall begin when the Offering Materials are first made
      available to you by Corporation and shall continue until the termination date,
      and through the end of any extension, unless the offering has been terminated
      as
      of any earlier time (the "Subscription Period").

    

    Section
      1. Appointment
      of Agent. On
      the
      basis of the representations, warranties and covenants contained in this
      Agreement, but subject to the terms and conditions herein set forth, you are
      hereby appointed as non-exclusive selling agent of Corporation for the Units
      offered under the Offering Materials. The appointment shall continue until
      the
      earliest of (i) 120 days from the date of this Agreement, or (ii) the
      termination of the Subscription Period, or (iii) the sale of all of the Units,
      or (iv) the termination of the offering of Units by Corporation for any reason,
      whichever occurs first. Subject to the performance by Corporation of all of
      its
      obligations under this Agreement, and to the completeness and accuracy of all
      of
      its representations and warranties contained in this Agreement, you agree to
      use
      your best efforts during the Subscription Period to find subscribers for the
      Units.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Selling
          Agreement

        Page
          2

      

    

    

    Section
      2. Definitions. Certain
      terms used herein are defined in the Offering Materials and shall have the
      same
      meanings given therein.

    

    Section
      3. Representations,
      Warranties and Covenants of Corporation.
      Corporation represents, warrants and covenants, to the best of its knowledge,
      that:

    

    a. Corporation
      is a corporation duly and validly organized and in good standing under the
      laws
      of the State of Nevada and has full power and authority to conduct the business
      described in the Offering Materials.

    

    b. Corporation
      will deliver to you a reasonable number of copies of the Offering Materials,
      and
      the information made available to each offeree pursuant to subsection 3(i)
      hereof shall be sufficient to comply with, and conform to, the requirements
      of
      Rule 506.

    

    c. All
      action required to be taken by Corporation to offer and sell the Units to
      qualified subscribers has been or will be taken.

    

    d. Upon
      payment of the subscription amount specified in the Subscription Documents,
      acceptance by Corporation of the subscriptions from qualified subscribers (which
      acceptance shall be at the sole discretion of Corporation), and delivery by
      the
      subscribers for Units of such additional documents as may reasonably be required
      by Corporation, such subscribers will become Unit Holders.

    

    e. All
      information and financial statements provided to potential purchasers describing
      Corporation, the transaction contemplated hereunder and/or Corporation’s
      business, operations, assets, liabilities and receivables, including but not
      limited to the Offering Materials (collectively, the “Materials”), will not
      contain any untrue statement of a material fact or omit to state a material
      fact
      necessary in order to make the statements made therein, in the light of the
      circumstances under which they were made, not materially misleading. Corporation
      acknowledges and agrees that you will be using, and relying upon, Corporation
      to
      furnish you with the Materials, and you will be using, and relying upon, such
      Materials supplied by Corporation, its officers, agents, and others and any
      other publicly available information without any independent investigation
      or
      verification thereof or independent appraisal by you of Corporation or its
      business or assets. You do not assume responsibility for the accuracy or
      completeness of the Materials, including but not limited to any disclosure
      materials related to the transaction contemplated hereunder. Corporation shall
      keep
      you fully
      informed of any events that might have a material effect on the financial
      condition of Corporation. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Selling
          Agreement

        Page
          3

      

    

    

    f. This
      Agreement has been duly and validly authorized, executed, and delivered by
      or on
      behalf of Corporation and constitutes a valid and binding agreement of
      Corporation.

    

    g. Execution
      by Corporation of a subscriber’s Subscription Documents will be duly and validly
      authorized by or on behalf of Corporation and will constitute a valid and
      binding agreement of Corporation.

    

    h. The
      execution and delivery of this Agreement and the incurrence of the obligations
      set forth herein and the consummation of the transactions contemplated in this
      Agreement and the Offering Materials will not constitute a breach or default
      under:

    

    
      	
            	(i)	
              any
                instruments by which Corporation is bound;
                or

            

    

    

    
      	 	
              (ii)

            	
              any
                order, rule or regulation (applicable to Corporation) issued by any
                court,
                governmental body or administrative agency having jurisdiction over
                Corporation.

            

    

    

    i. Corporation
      shall make available, during the Subscription Period and prior to the sale
      of
      any Units, to each purchaser or his purchaser representative(s) or both:

    

    (i) such
      information (in addition to that contained in the Offering Materials) concerning
      the offering of Units, Corporation, and any other relevant matters, as
      Corporation possesses or can acquire without unreasonable effort or expense;
      and

    

    (ii) the
      opportunity to ask questions of, and receive answers from, Corporation
      concerning the terms and conditions of the offering of the Units, and to obtain
      any additional information, to the extent Corporation possesses the same or
      can
      acquire it without unreasonable effort or expense, necessary to verify the
      accuracy of the information furnished to the purchaser or his purchaser
      representative(s). 

    

    j. With
      respect to those activities undertaken by it, Corporation has endeavored to
      ensure that the offering and sale of Units complies, in all respects, with
      the
      requirements of the Securities Act of 1933, as amended, and the Securities
      Exchange Act of 1934, as amended, and the securities or "blue sky" laws of
      any
      state or jurisdiction in which an offer and/or sale takes
      place.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Selling
          Agreement

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          4

      

    

     

    k.
       There
      is
      no litigation or proceeding at law or in equity before any federal or state
      authority against Corporation wherein an unfavorable decision, ruling, or
      finding would materially and adversely affect the business, operations or
      financial condition or income of Corporation or any proposed Corporation
      investment, and neither the execution and delivery of this Agreement, the
      consummation of the transactions herein contemplated, nor the fulfillment of
      or
      compliance with the terms hereof will conflict with, or result in a breach
      of,
      any of the terms, provisions, or conditions of any agreement or instrument
      to
      which Corporation is a party.

    

    l. Corporation
      will endeavor in good faith to qualify, or assist you in qualifying, the Units
      for offer and sale, or to establish, or assist you in establishing, the
      exemption of the offer and sale of the Units from qualification or registration
      under the applicable securities or "blue sky" laws of such jurisdictions as
      you
      may reasonably designate, and will promptly notify you, orally or in writing
      (but if orally then prompt written confirmation shall be delivered to you),
      as
      each jurisdiction is so qualified or as an exemption from registration or
      qualification is established therein; provided, however, that Corporation shall
      not be obligated to do business or to qualify as a dealer in any jurisdiction
      in
      which it is not so qualified.

    

    m. Corporation
      will pay all expenses in connection with the printing and delivery to you in
      reasonable quantities of copies of the Offering Materials and the qualification
      of the Units under the securities or "blue sky" laws.

    

    n. As
      compensation for your services, Corporation will pay you a sales commission
      equal to (i) seven percent (7%) of the gross proceeds received by Corporation
      from the Units placed by you (the “Cash Fee”) and (ii) three-year warrants to
      purchase a number of shares of common stock equal to three percent (3%) of
      the
      number of shares included within the Units placed by you; provided, however,
      that immediately prior to each closing of the offering of the Units you shall
      subscribe for that number of Units equal in value to the Cash Fee payable to
      you
      with respect to such closing and acknowledge that you will not be entitled
      to
      any sales commissions with respect to Units purchased by you using any portion
      of the Cash Fee pursuant to this Section 3(n).

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Selling
          Agreement

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          5

      

    

     

    o. If
      at any
      time prior to the completion of a transaction an event occurs which
      would cause
      the
      Materials (as supplemented or amended) to contain an untrue statement of a
      material fact or to omit to state a material fact necessary in order to make
      the
      statements therein, in light of the circumstances under which they were made,
      not misleading, Corporation will notify you immediately of such event. If any
      event relating to or affecting Corporation shall occur during the Subscription
      Period, as a result of which it is necessary, in the opinion of your counsel
      and
      counsel to Corporation, to amend or supplement the Offering Materials so that
      it
      will not contain an untrue statement of a material fact or omit to state a
      material fact necessary in order to make the statements therein, in light of
      the
      circumstances under which they are made, not misleading, Corporation shall
      forthwith prepare and furnish to you a reasonable number of copies of an
      amendment or amendments of, or supplement or supplements to, the Offering
      Materials, which you shall promptly deliver to all offerees then being
      solicited. For purposes of this subsection o., Corporation will furnish such
      information with respect to Corporation as you may from time to time reasonably
      request.

    

    p. Corporation
      will deliver to you such reports and documents as Corporation is required,
      under
      the terms of the Offering Materials or any document referred to therein, to
      furnish to its prospective investors.

    

    Section
      4. Representations,
      Warranties and Covenants of the Broker-Dealer.
      The
      Broker-Dealer represents, warrants and covenants, to the best of its knowledge,
      that:

    

    a. It,
      or
      any person acting on its behalf, will not offer any of the Units for sale,
      or
      solicit any offers to subscribe for or buy any Units, or otherwise negotiate
      with any person with respect to the Units, on the basis of any communications
      or
      documents, except the Offering Materials, the information provided by
      Corporation pursuant to Section 3(i), or any other documents and any transmittal
      letter reasonably satisfactory in form and substance to Corporation and counsel
      to Corporation.

    

    b. It,
      or
      any person acting on its behalf, shall not use any form of general solicitation
      or general advertising in the course of any offer or sale of the Units
      including, but not limited to:

    

    (i) any
      advertisement, article, notice or other communication published in any
      newspaper, magazine, website, or similar media or broadcast over television
      or
      radio; and

    

    (ii) any
      seminar or meeting whose attendees have been invited by any general solicitation
      or general advertising.

    

    c. It,
      or
      any person acting on its behalf, shall solely make offers to sell Units to,
      solicit offers to subscribe for or purchase any Units from, or otherwise
      negotiate with respect to the Units with, persons whom it has reasonable grounds
      to believe and does believe are "accredited investors" within the meaning of
      17
      CFR 230.501(a).

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Selling
          Agreement

        Page
          6

      

    

     

    In
      making
      or soliciting such offers, or so negotiating, Broker-Dealer will comply with
      the
      provisions of the Securities Act of 1933, as amended, the Securities Exchange
      Act of 1934, as amended, and the securities or "blue sky" laws of the
      jurisdiction in which it makes or solicits such offers, or so
      negotiates.

    

    d. It
      will
      exercise reasonable care to assure that the purchasers are not underwriters
      within the meaning of Section 2(11) of the Securities Act of 1933, as amended.
      In that connection, it will:

    

    (i) Make
      reasonable inquiry to determine that each purchaser is acquiring the Units
      for
      his own account; and

    

    (ii) Assist
      Corporation to obtain from the purchaser a signed written agreement (contained
      in the Subscription Documents) that the Units will not be sold without
      registration under the Securities Act of 1933, as amended, unless an opinion
      of
      counsel that an exemption therefrom is available, satisfactory in form and
      substance to Corporation or counsel, is delivered in accordance with such
      agreement.

    

    e. It
      will
      assist Corporation to have the purchaser(s) furnish Corporation with information
      in sufficient detail (in the form of the Investor Questionnaire, a copy of
      which
      is included in the Offering Materials), with respect to each purchaser of Units,
      in order to demonstrate to Corporation that such purchaser satisfies the
      requirements of Rule 506, as outlined in Section 4(c) above.

    

    f. If
      a
      prospective purchaser uses or consults a purchaser representative (as that
      term
      is defined in 17 CFR 230.501(h)) in connection with the offering of the Units,
      it will assist Corporation to obtain from the prospective purchaser, prior
      to
      the closing of the offering of the Units, the prospective purchaser's written
      acknowledgment that he has used such person(s) in connection with evaluating
      the
      merits and risks of the prospective investment and such representative's written
      consent so to act, as well as a description of the education and experience
      of
      such representative(s).

    

    g. It
      will
      offer and sell the Units only in those jurisdictions in which it, or any other
      person or entity acting in its behalf, is properly registered, and it will
      comply with all laws, rules and regulations related to its activities on behalf
      of Corporation pursuant to this Agreement.

    

    h. It
      is a
      securities broker-dealer registered and in good standing with the Securities
      and
      Exchange Commission and is a member of the NASD.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Selling
          Agreement

        Page
          7

      

    

     

    i. This
      Agreement has been duly and validly authorized, executed, and delivered by
      or on
      behalf of the
      Broker-Dealer
      and
      constitutes a valid and binding agreement of the Broker-Dealer.

    

    Section
      5. Conditions
      of the Obligations of Corporation.
      The
      obligations of Corporation to pay fees or issue warrants under this Agreement
      are subject to the accuracy of and compliance with your representations,
      warranties and covenants set forth in Section 4, and to the performance by
      you
      of your obligations hereunder.

    

    Section
      6. Representations,
      Warranties and Agreements to Survive Delivery. 

    

    All
      representations, warranties and agreements by either Corporation or
      Broker-Dealer contained in this Agreement shall remain operative and in full
      force and effect, and shall survive the closing of the offering of the Units.
      Upon termination of this Agreement, Corporation shall have no further
      obligations to Broker-Dealer other than with respect to fees payable to
      Broker-Dealer as provided herein and the provisions of indemnification set
      forth
      in Annex A, which shall survive the termination or expiration of this
      Agreement.

    

    Section
      7. Indemnification.

    

    (a) Corporation
      agrees to provide indemnification as set forth in Annex A attached hereto and
      made a part hereof.

    

    (b) The
      Broker-Dealer agrees to indemnify, defend and hold Corporation and its officers,
      directors, shareholders and agents harmless against any and all loss, liability,
      damage and expense whatsoever, in an amount up to but in no event exceeding
      the
      Cash Fee actually received by to the Broker-Dealer hereunder, whether or not
      resulting in any liability, that may be incurred under applicable securities
      laws, at common law, or otherwise and which is based upon or arises out
      of:

    

    (1) any
      violation by Broker-Dealer or its agents of the Securities Act of 1933, as
      amended, the Securities Exchange Act of 1934, as amended, or any state
      securities statutes, unless such violation is attributable to actions,
      misrepresentations or omissions of Corporation; or

    

    (2) any
      breach of any representation, warranty or covenant made by Broker-Dealer in
      this
      Agreement. 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Selling
          Agreement

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          8

      

    

    

    Section
      8. Relief. The
      Broker-Dealer agrees that a breach or threatened breach on its part of any
      agreement contained in this Agreement will cause such damage to Corporation
      as
      will be irreparable, and, for that reason, the Broker-Dealer further agrees
      that
      Corporation shall be entitled as a matter of right to an injunction, by any
      court of competent jurisdiction, restraining any further violation of such
      covenants by the Broker-Dealer or its employees, partners, officers or agents.
      The right of injunction shall be cumulative and in addition to whatever other
      remedies Corporation may have, including, specifically, recovery of damages.
      The
      Broker-Dealer also agrees to pay reasonable attorney's fees incurred by
      Corporation in successfully proving that the Broker-Dealer breached any of
      the
      terms of this Agreement.

    

    Section
      9. Notices.
      All
      communications under this Agreement shall be in writing, and, if sent to you,
      shall be mailed, delivered or telegraphed and confirmed to you at the address
      initially set forth above or as changed by you in a written notice to
      Corporation, or if sent to Corporation, shall be mailed, delivered or
      telegraphed and confirmed to it at the address set out in the letterhead
      above.

     

    Section
      10. Parties.
      This
      Agreement shall inure to the benefit of, and be binding upon, you, any person
      which controls you, and your successors, and upon Corporation and its
      representatives and successors. This Agreement and its conditions and provisions
      are for the sole and exclusive benefit of the parties and their representatives
      and successors, and for the benefit of no other person, firm or
      corporation.

    

    Section
      11. Relationship
      of Parties.
      It is
      not the intention of the parties to create, nor shall this Agreement be
      construed as creating, a partnership, joint venture, agency relationship or
      association other than as specifically set forth herein, or to render the
      parties liable as partners, co-venturers, or principals. In their relations
      with
      each other under this Agreement, the parties shall not be considered fiduciaries
      or to have established a confidential relationship other than as specifically
      set forth herein but rather shall be free to act on an arm's length basis in
      accordance with their own respective self-interest, subject, however, to the
      obligation of the parties to act in good faith in their dealings with each
      other
      with respect to activities hereunder.

    

    Section
      12. Entire
      Agreement.
      This
      Agreement evidences the entire agreement between Corporation and the
      Broker-Dealer, and represents a merger of all preceding agreements between
      the
      parties hereto pertaining to the subject matter hereof.

    

    Section
      13. Severability
      of Provisions.
      If one
      or more of the provisions of this Agreement or any application thereof shall
      be
      invalid, illegal or unenforceable in any respect, the validity, legality and
      enforceability of the remaining provisions hereof and any application thereof
      shall in no way be affected or impaired.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Selling
          Agreement

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          9

      

    

    

    Section
      14. Governing
      Law; Jurisdiction. This
      Agreement shall be governed by and construed in accordance with the internal
      laws of the State of Nevada, without regard to conflicts of laws or principles
      thereof. Each of the parties hereto agrees irrevocably consents to the
      jurisdiction and venue of the federal and state courts located in Las Vegas,
      Nevada.

    

    Section
      15. Counterparts.
      This
      Agreement may be executed in two or more counterparts, each of which shall
      be
      deemed an original, but all of which together shall constitute one and the
      same
      instrument.

    

    Section
      16. Publication.
      Upon
      a
      closing of a transaction contemplated hereunder, you may place advertisements
      in
      financial and other newspapers and journals (whether in print or on the
      internet), and publicize on your own website and/or marketing materials, at
      your
      own expense, describing your services to Corporation hereunder with the
      Corporation’s prior written consent .

    

    [SIGNATURE
      PAGE AND ANNEX A FOLLOW]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Selling
          Agreement

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          10

      

    

    If
      the
      foregoing is in accordance with your understanding of our agreement, kindly
      sign
      and return to us one copy of this Agreement, whereupon this instrument will
      become a binding agreement upon you and Corporation in accordance with its
      terms.

     

    
      	
              Very
                truly yours,

            
	 
	
              TRANS-PHARMA
                CORPORATION,

            
	
              a
                Nevada Corporation

            
	 
	
              By:

            	
              /s/
                Juliet Singh, Ph.D.

            
	
              Name:

            	
              Juliet
                Singh, Ph.D.

            
	
              Title:

            	
              Chief
                Executive Officer

            

    

     

    The
      foregoing Agreement is hereby confirmed and accepted as of the date first set
      out above.

    

    
      	
              PALLADIUM
                CAPITAL ADVISORS, LLC

            
	 
	
              By:
                

            	
              /s/
                Joel Padowitz

            
	
              Name:
                

            	
              Joel
                Padowitz

            
	
              Title:
                

            	
              Chief
                Executive Officer

            
	 	 
	
              Address:
                

            	
              230
                Park Avenue, Suite 539

            
	 	
              New
                York, NY 10169

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Selling
          Agreement

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          11

      

    

    

    Annex
      A 

     

    Indemnification
      Provisions

     

    
      

    

     

    Corporation
      agrees that it will indemnify and hold harmless the Broker-Dealer, its
      affiliates, and their respective directors, members, officers, employees,
      agents, representatives and controlling persons (collectively the
“Broker-Dealer” and each such entity or person being an “Indemnified
      Party”)
      from
      and against any and all losses, claims, damages and liabilities, joint or
      several, as incurred, to which such Indemnified Party may become subject, and
      related to or arising out of the engagement of the Broker-Dealer hereunder,
      the
      activities performed or omitted by or on behalf of an Indemnified Party pursuant
      to this Agreement, the transactions contemplated thereby or the Broker-Dealer’s
      role in connection therewith; provided
      that
      Corporation will not be liable to the extent that any loss, claim, damage or
      liability is found in a final judgment (not subject to further appeal) by a
      court to have resulted primarily from actions taken or omitted to be taken
      by
      the Broker-Dealer in bad faith or from the Broker-Dealer's gross negligence
      or
      willful misconduct in performing the services described above. Corporation
      also
      agrees to reimburse any Indemnified Party for all expenses (including reasonable
      counsel fees and disbursements) as they are incurred in connection with the
      investigation of, preparation for or defense of any pending or threatened claim,
      or any action, investigation, suit or proceeding arising therefrom, whether
      or
      not such Indemnified Party is a party, whether or not liability resulted and
      whether or not such claim, action or proceeding is initiated or brought by
      or on
      behalf of Corporation. Corporation also agrees that no Indemnified Party shall
      have any liability (whether direct or indirect, in contract or tort or
      otherwise) to Corporation or its security holders or creditors related to or
      arising out of the engagement of the Broker-Dealer pursuant to, or the
      performance by the Broker-Dealer of the services contemplated by, this Agreement
      except to the extent that any loss, claim, damage or liability is found in
      a
      final judgment (not subject to further appeal) by a court to have resulted
      primarily from actions taken or omitted to be taken by the Broker-Dealer in
      bad
      faith or from the Broker-Dealer’s gross negligence or willful
      misconduct.

     

    If
      the
      indemnification provided for in this Agreement is for any reason held
      unenforceable, Corporation agrees to contribute to the losses, claims, damages
      and liabilities, as incurred by any Indemnified Person, for which such
      indemnification is held unenforceable in such proportion as is appropriate
      to
      reflect the relative benefits to Corporation, on the one hand, and the
      Broker-Dealer, on the other hand, of the transaction contemplated hereby
      (whether or not the transaction is consummated). Corporation agrees that for
      the
      purposes of this paragraph the relative benefits to Corporation and the
      Broker-Dealer of the transaction shall be deemed to be in the same proportion
      that the total value of the transaction or contemplated transaction by
      Corporation as a result of or in connection with the proposed transaction bears
      to the fee paid or to be paid to the Broker-Dealer under this Agreement;
provided
      that, to
      the extent permitted by applicable law, in no event shall the Indemnified
      Parties be required to contribute an aggregate amount in excess of the aggregate
      fees actually paid to the Broker-Dealer under this Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Selling
          Agreement

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          12

      

    

     

    Promptly
      after receipt by an Indemnified Party of notice of any claim or the commencement
      of any action, suit or proceeding with respect to which an Indemnified Party
      may
      be entitled to indemnity hereunder, such Indemnified Party will notify
      Corporation in writing of such claim or of the commencement of such action
      or
      proceeding, and Corporation will
      assume the defense of such action, suit or proceeding and will employ counsel
      satisfactory to the Indemnified Parties and will pay the fees and disbursements
      of such counsel, as incurred. Notwithstanding the preceding sentence, any
      Indemnified Party will be entitled to employ counsel separate from counsel
      for
      Corporation and from any other party in such action, which counsel shall be
      approved by the Corporation, which approval shall not be unreasonably withheld
      or delayed, if such Indemnified Party reasonably determines that a conflict
      of
      interest exists which makes representation by counsel chosen by Corporation
      not
      advisable or if such Indemnified Party reasonably determines that Corporation’s
      assumption of the defense does not adequately represent its interest. In such
      event, the fees and disbursements of such separate counsel will be paid by
      Corporation. Notwithstanding anything herein to the contrary, in no event shall
      Corporation be liable for the fees and disbursements of more than one counsel
      (in addition to local counsel) for all Indemnified Parties in connection with
      any one action or separate but similar or related actions in the same
      jurisdiction arising out of the same general allegations or circumstances.
      

     

    Corporation
      agrees that, without the Broker-Dealer’s prior written consent, it will not
      settle, compromise or consent to the entry of any judgment in any pending or
      threatened claim, action or proceeding in respect of which indemnification
      could
      be sought under the indemnification provision of this Agreement (whether or
      not
      the Broker-Dealer or any other Indemnified Party is an actual or potential
      party
      to such claim, action or proceeding), unless such settlement, compromise or
      consent includes an unconditional release of each Indemnified Party from all
      liability arising out of such claim, action or proceeding. The Broker-Dealer
      agrees that, without Corporation’s prior written consent, it will not settle,
      compromise or consent to the entry of any judgment in any pending or threatened
      claim, action or proceeding in respect of which indemnification could be sought
      under the indemnification provision of this Agreement (whether or not
      Corporation is an actual or potential party to such claim, action or
      proceeding), unless such settlement, compromise or consent includes an
      unconditional release of each Indemnified Party from all liability arising
      out
      of such claim, action or proceeding.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

        Selling
          Agreement

        Page
          13

      

    

     

    In
      the
      event any Indemnified Party is requested or required to appear as a witness
      in
      any action, suit or proceeding brought by or on behalf of or against Corporation
      or any affiliate or any participant in a transaction covered hereby in which
      such Indemnified Party is not named as a defendant, Corporation agrees to
      reimburse the Broker-Dealer and such Indemnified Party for all reasonable
      disbursements incurred by them in connection with such Indemnified Party’s
      appearing and preparing to appear as a witness, including, without limitation,
      the reasonable fees and disbursements of their legal counsel, and to compensate
      the Broker-Dealer and such Indemnified Party in an amount to be mutually agreed
      upon.

     

    In
      the
      event that any amounts due under these indemnification provisions contained
      in
      this Annex A are not paid within thirty days after written notice of such event
      giving rise to the indemnification obligations, such amounts shall bear interest
      at a rate of 1.5% per month or at the highest rate permitted under the laws
      of
      the State of Nevada, whichever rate is lower.

     

    The
      provisions of Annex A shall be in addition to any liability which Corporation
      may otherwise have. These provisions shall be governed by the law of the State
      of Nevada and shall be operative, in full force and in full effect, regardless
      of any termination or expiration of this agreement.

     

    
      	
              PALLADIUM
                CAPITAL

            	
              TRANS-PHARMA
                CORPORATION

            
	
              ADVISORS,
                LLC

            	 
	 	 	 	 
	
              By:

            	
              /s/
                Joel Padowitz

            	
              By:

            	
              /s/
                Juliet Singh, Ph.D.

            
	 	
              Joel
                Padowitz

            	 	
              Juliet
                Singh, Ph.D.

            
	 	
              Chief
                Executive Officer

            	 	
              Chief
                Executive OfficerEXHIBIT
      10.8

     

    INDEMNITY
      AGREEMENT

     

    This
      Indemnity Agreement, dated as of September __, 2007, is made by and between
      Transdel Pharmaceuticals, Inc., a Delaware corporation (the “Company”),
      and
      _________________ (the “Indemnitee”).

     

    RECITALS

     

    A. The
      Company is aware that competent and experienced persons are increasingly
      reluctant to serve as directors, officers or agents of corporations unless
      they
      are protected by comprehensive liability insurance or indemnification, due
      to
      increased exposure to litigation costs and risks resulting from their service
      to
      such corporations, and due to the fact that the exposure frequently bears no
      reasonable relationship to the compensation of such directors, officers and
      other agents.

     

    B. The
      statutes and judicial decisions regarding the duties of directors and officers
      are often difficult to apply, ambiguous, or conflicting, and therefore fail
      to
      provide such directors, officers and agents with adequate, reliable knowledge
      of
      legal risks to which they are exposed or information regarding the proper course
      of action to take.

     

    C. Plaintiffs
      often seek damages in such large amounts and the costs of litigation may be
      so
      enormous (whether or not the case is meritorious), that the defense and/or
      settlement of such litigation is often beyond the personal resources of
      directors, officers and other agents.

     

    D. The
      Company believes that it is unfair for its directors, officers and agents and
      the directors, officers and agents of its subsidiaries to assume the risk of
      huge judgments and other expenses which may occur in cases in which the
      director, officer or agent received no personal profit and in cases where the
      director, officer or agent was not culpable.

     

    E. The
      Company recognizes that the issues in controversy in litigation against a
      director, officer or agent of a corporation such as the Company or its
      subsidiaries are often related to the knowledge, motives and intent of such
      director, officer or agent, that he is usually the only witness with knowledge
      of the essential facts and exculpating circumstances regarding such matters,
      and
      that the long period of time which usually elapses before the trial or other
      disposition of such litigation often extends beyond the time that the director,
      officer or agent can reasonably recall such matters; and may extend beyond
      the
      normal time for retirement for such director, officer or agent with the result
      that he, after retirement or in the event of his death, his spouse, heirs,
      executors or administrators, may be faced with limited ability and undue
      hardship in maintaining an adequate defense, which may discourage such a
      director, officer or agent from serving in that position.

     

    F. Based
      upon their experience as business managers, the Board of Directors of the
      Company (the “Board”)
      has
      concluded that, to retain and attract talented and experienced individuals
      to
      serve as directors, officers and agents of the Company and its subsidiaries
      and
      to encourage such individuals to take the business risks necessary for the
      success of the Company and its subsidiaries, it is necessary for the Company
      to
      contractually indemnify its directors, officers and agents and the directors,
      officers and agents of its subsidiaries, and to assume for
      itself
      maximum liability for expenses and damages in connection with claims against
      such directors, officers and agents in connection with their service to the
      Company and its subsidiaries, and has further concluded that the failure to
      provide such contractual indemnification could result in great harm to the
      Company and its subsidiaries and the Company’s stockholders.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    G. Section
      145 of the General Corporation Law of Delaware, under which the Company is
      organized (“Section
      145”),
      empowers the Company to indemnify its directors, officers, employees and agents
      by agreement and to indemnify persons who serve, at the request of the Company,
      as the directors, officers, employees or agents of other corporations or
      enterprises, and expressly provides that the indemnification provided by Section
      145 is not exclusive.

     

    H. The
      Company desires and has requested the Indemnitee to serve or continue to serve
      as a director, officer or agent of the Company and/or one or more subsidiaries
      of the Company free from undue concern for claims for damages arising out of
      or
      related to such services to the Company and/or one or more subsidiaries of
      the
      Company.

     

    I. Indemnitee
      is willing to serve, or to continue to serve, the Company and/or one or more
      subsidiaries of the Company, provided that he is furnished the indemnity
      provided for herein.

     

    AGREEMENT

     

    NOW,
      THEREFORE, the parties hereto, intending to be legally bound, hereby agree
      as
      follows:

     

    1. Definitions.

     

    (a) Agent.
      For the
      purposes of this Agreement, “agent” of the Company means any person who is or
      was a director, officer, employee or other agent of the Company or a subsidiary
      of the Company; or is or was serving at the request of, for the convenience
      of,
      or to represent the interests of the Company or a subsidiary of the Company
      as a
      director, officer, employee or agent of another foreign or domestic corporation,
      partnership, joint venture, trust or other enterprise; or was a director,
      officer, employee or agent of a foreign or domestic corporation which was a
      predecessor corporation of the Company or a subsidiary of the Company, or was
      a
      director, officer, employee or agent of another enterprise at the request of,
      for the convenience of, or to represent the interests of such predecessor
      corporation.

     

    (b) Expenses.
      For
      purposes of this Agreement, “expenses” include all out-of-pocket costs of any
      type or nature whatsoever (including, without limitation, all attorneys’ fees
      and related disbursements), actually and reasonably incurred by the Indemnitee
      in connection with either the investigation, defense or appeal of a proceeding
      or establishing or enforcing a right to indemnification under this Agreement
      or
      Section 145 or otherwise; provided, however, that “expenses” shall not include
      any judgments.

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    (c) Proceeding.
      For the
      purposes of this Agreement, “proceeding” means any threatened, pending, or
      completed action, suit or other proceeding, whether civil, criminal,
      administrative, or investigative.

     

    (d) Subsidiary.
      For
      purposes of this Agreement, “subsidiary” means any corporation of which more
      than 50% of the outstanding voting securities is owned directly or indirectly
      by
      the Company, by the Company and one or more other subsidiaries, or by one or
      more other subsidiaries.

     

    2. Agreement
      to Serve.
      The
      Indemnitee agrees to serve and/or continue to serve as agent of the Company,
      at
      its will (or under separate agreement, if such agreement exists), in the
      capacity Indemnitee currently serves as an agent of the Company, so long as
      he
      is duly appointed or elected and qualified in accordance with the applicable
      provisions of the Bylaws of the Company or any subsidiary of the Company or
      until such time as he tenders his resignation in writing; provided, however,
      that nothing contained in this Agreement is intended to create any right to
      continued employment by Indemnitee.

     

    3. Liability
      Insurance.

     

    (a) Maintenance
      of D&O Insurance.
      The
      Company hereby covenants and agrees that, so long as the Indemnitee shall
      continue to serve as an agent of the Company and thereafter so long as the
      Indemnitee shall be subject to any possible proceeding by reason of the fact
      that the Indemnitee was an agent of the Company, the Company, subject to Section
      3(c), shall promptly obtain and maintain in full force and effect directors’ and
      officers’ liability insurance (“D&O
      Insurance”)
      in
      reasonable amounts from established and reputable insurers.

     

    (b) Rights
      and Benefits.
      In all
      policies of D&O Insurance, the Indemnitee shall be named as an insured in
      such a manner as to provide the Indemnitee the same rights and benefits as
      are
      accorded to the most favorably insured of the Company’s directors, if the
      Indemnitee is a director; or of the Company’s officers, if the Indemnitee is not
      a director of the Company but is an officer; or of the Company’s key employees,
      if the Indemnitee is not a director or officer but is a key
      employee.

     

    (c) Limitation
      on Required Maintenance of D&O Insurance.
      Notwithstanding the foregoing, the Company shall have no obligation to obtain
      or
      maintain D&O Insurance if the Company determines in good faith that such
      insurance is not reasonably available, the premium costs for such insurance
      are
      disproportionate to the amount of coverage provided, the coverage provided
      by
      such insurance is limited by exclusions so as to provide an insufficient
      benefit, or the Indemnitee is covered by similar insurance maintained by a
      subsidiary of the Company.

     

    4. Mandatory
      Indemnification.
      Subject
      to Section 8 below, the Company shall indemnify the Indemnitee as
      follows:

     

    (a) Successful
      Defense.
      To the
      extent the Indemnitee has been successful on the merits or otherwise in defense
      of any proceeding (including, without limitation, an action by or in the right
      of the Company) to which the Indemnitee was a party by reason of the fact that
      he is or was an agent of the Company at any time, against all expenses of any
      type whatsoever actually and reasonably incurred by him in connection with
      the
      investigation, defense or appeal of such proceeding.

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    (b) Third
      Party Actions.
      If the
      Indemnitee is a person who was or is a party or is threatened to be made a
      party
      to any proceeding (other than an action by or in the right of the Company)
      by
      reason of the fact that he is or was an agent of the Company, or by reason
      of
      anything done or not done by him in any such capacity, the Company shall
      indemnify the Indemnitee against any and all expenses and liabilities of any
      type whatsoever (including, but not limited to, judgments, fines, ERISA excise
      taxes and penalties, and amounts paid in settlement) actually and reasonably
      incurred by him in connection with the investigation, defense, settlement or
      appeal of such proceeding, provided the Indemnitee acted in good faith and
      in a
      manner he reasonably believed to be in or not opposed to the best interests
      of
      the Company and its stockholders, and, with respect to any criminal action
      or
      proceeding, had no reasonable cause to believe his conduct was
      unlawful.

     

    (c) Derivative
      Actions.
      If the
      Indemnitee is a person who was or is a party or is threatened to be made a
      party
      to any proceeding by or in the right of the Company by reason of the fact that
      he is or was an agent of the Company, or by reason of anything done or not
      done
      by him in any such capacity, the Company shall indemnify the Indemnitee against
      all expenses actually and reasonably incurred by him in connection with the
      investigation, defense, settlement, or appeal of such proceeding, provided
      the
      Indemnitee acted in good faith and in a manner he reasonably believed to be
      in
      or not opposed to the best interests of the Company and its stockholders; except
      that no indemnification under this subsection 4(c) shall be made in respect to
      any claim, issue or matter as to which such person shall have been finally
      adjudged to be liable to the Company by a court of competent jurisdiction unless
      and only to the extent that the court in which such proceeding was brought
      shall
      determine upon application that, despite the adjudication of liability but
      in
      view of all the circumstances of the case, such person is fairly and reasonably
      entitled to indemnity for such amounts which the court shall deem
      proper.

     

    (d) Actions
      where Indemnitee is Deceased.
      If the
      Indemnitee is a person who was or is a party or is threatened to be made a
      party
      to any proceeding by reason of the fact that he is or was an agent of the
      Company, or by reason of anything done or not done by him in any such capacity,
      and if prior to, during the pendency or after completion of such proceeding
      Indemnitee becomes deceased, the Company shall indemnify the Indemnitee’s heirs,
      executors and administrators against any and all expenses and liabilities of
      any
      type whatsoever (including, but not limited to, judgments, fines, ERISA excise
      taxes and penalties, and amounts paid in settlement) actually and reasonably
      incurred to the extent Indemnitee would have been entitled to indemnification
      pursuant to Sections 4(a), 4(b), or 4(c) above were Indemnitee still
      alive.

     

    (e) Notwithstanding
      the foregoing, the Company shall not be obligated to indemnify the Indemnitee
      for expenses or liabilities of any type whatsoever (including, but not limited
      to, judgments, fines, ERISA excise taxes and penalties, and amounts paid in
      settlement) for which payment is actually made to or on behalf of Indemnitee
      under a valid and collectible insurance policy of D&O Insurance, or under a
      valid and enforceable indemnity clause, by-law or agreement.

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    5. Partial
      Indemnification.
      If the
      Indemnitee is entitled under any provision of this Agreement to indemnification
      by the Company for some or a portion of any expenses or liabilities of any
      type
      whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes
      and penalties, and amounts paid in settlement) incurred by him in the
      investigation, defense, settlement or appeal of a proceeding, but not entitled,
      however, to indemnification for all of the total amount hereof, the Company
      shall nevertheless indemnify the Indemnitee for such total amount except as
      to
      the portion hereof to which the Indemnitee is not entitled.

     

    6. Mandatory
      Advancement of Expenses.
      Subject
      to Section 8(a) below, the Company shall advance all expenses incurred by the
      Indemnitee in connection with the investigation, defense, settlement or appeal
      of any proceeding to which the Indemnitee is a party or is threatened to be
      made
      a party by reason of the fact that the Indemnitee is or was an agent of the
      Company. Indemnitee hereby undertakes to repay such amounts advanced only if,
      and to the extent that, it shall be determined ultimately that the Indemnitee
      is
      not entitled to be indemnified by the Company as authorized hereby. The advances
      to be made hereunder shall be paid by the Company to the Indemnitee within
      twenty (20) days following delivery of a written request therefor by the
      Indemnitee to the Company. In the event that the Company fails to pay expenses
      as incurred by the Indemnitee as required by this paragraph, Indemnitee may
      seek
      mandatory injunctive relief from any court having jurisdiction to require the
      Company to pay expenses as set forth in this paragraph. If Indemnitee seeks
      mandatory injunctive relief pursuant to this paragraph, it shall not be a
      defense to enforcement of the Company’s obligations set forth in this paragraph
      that Indemnitee has an adequate remedy at law for damages.

     

    7. Notice
      and Other Indemnification Procedures.

     

    (a) Promptly
      after receipt by the Indemnitee of notice of the commencement of or the threat
      of commencement of any proceeding, the Indemnitee shall, if the Indemnitee
      believes that indemnification with respect thereto may be sought from the
      Company under this Agreement, notify the Company of the commencement or threat
      of commencement thereof.

     

    (b) If,
      at
      the time of the receipt of a notice of the commencement of a proceeding pursuant
      to Section 7(a) hereof, the Company has D&O Insurance in effect, the Company
      shall give prompt notice of the commencement of such proceeding to the insurers
      in accordance with the procedures set forth in the respective policies. The
      Company shall thereafter take all necessary or desirable action to cause such
      insurers to pay, on behalf of the Indemnitee, all amounts payable as a result
      of
      such proceeding in accordance with the terms of such policies.

     

    (c) In
      the
      event the Company shall be obligated to pay the expenses of any proceeding
      against the Indemnitee, the Company, if appropriate, shall be entitled to assume
      the defense of such proceeding, with counsel approved by the Indemnitee, upon
      the delivery to the Indemnitee of written notice of its election so to do.
      After
      delivery of such notice, approval of such counsel by the Indemnitee and the
      retention of such counsel by the Company, the Company will not be liable to
      the
      Indemnitee under this Agreement for any fees of counsel subsequently incurred
      by
      the Indemnitee with respect to the same proceeding, provided that (i) the
      Indemnitee shall have the right to employ his counsel in any such proceeding
      at
      the Indemnitee’s expense; and (ii) if (A) the employment of counsel by the
      Indemnitee has been previously authorized by the Company, (B) the Indemnitee
      shall have reasonably concluded that there may be a conflict of interest between
      the Company and the Indemnitee in the conduct of any such defense, or (C) the
      Company shall not, in fact, have employed counsel to assume the defense of
      such
      proceeding, then the fees and expenses of Indemnitee’s counsel shall be at the
      expense of the Company.

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    8. Exceptions.
      Any
      other provision herein to the contrary notwithstanding, the Company shall not
      be
      obligated pursuant to the terms of this Agreement:

     

    (a) Claims
      Initiated by Indemnitee.
      To
      indemnify or advance expenses to the Indemnitee with respect to proceedings
      or
      claims initiated or brought voluntarily by the Indemnitee and not by way of
      defense, unless (i) such indemnification is expressly required to be made by
      law, (ii) the proceeding was authorized by the Board, (iii) such indemnification
      is provided by the Company, in its sole discretion, pursuant to the powers
      vested in the Company under the General Corporation Law of Delaware or (iv)
      the
      proceeding is brought to establish or enforce a right to indemnification under
      this Agreement or any other statute or law or otherwise as required under
      Section 145;

     

    (b) Lack
      of Good Faith.
      To
      indemnify the Indemnitee for any expenses incurred by the Indemnitee with
      respect to any proceeding instituted by the Indemnitee to enforce or interpret
      this Agreement, if a court of competent jurisdiction determines that each of
      the
      material assertions made by the Indemnitee in such proceeding was not made
      in
      good faith or was frivolous; or

     

    (c) Unauthorized
      Settlements.
      To
      indemnify the Indemnitee under this Agreement for any amounts paid in settlement
      of a proceeding unless the Company consents to such settlement, which consent
      shall not be unreasonably withheld.

     

    9. Non-exclusivity.
      The
      provisions for indemnification and advancement of expenses set forth in this
      Agreement shall not be deemed exclusive of any other rights which the Indemnitee
      may have under any provision of law, the Company’s Certificate of Incorporation
      or Bylaws, the vote of the Company’s stockholders or disinterested directors,
      other agreements, or otherwise, both as to action in his official capacity
      and
      to action in another capacity while occupying his position as an agent of the
      Company, and the Indemnitee’s rights hereunder shall continue after the
      Indemnitee has ceased acting as an agent of the Company and shall inure to
      the
      benefit of the heirs, executors and administrators of the
      Indemnitee.

     

    10. Enforcement.
      Any
      right to indemnification or advances granted by this Agreement to Indemnitee
      shall be enforceable by or on behalf of Indemnitee in any court of competent
      jurisdiction if (i) the claim for indemnification or advances is denied, in
      whole or in part, or (ii) no disposition of such claim is made within ninety
      (90) days of request therefor. Indemnitee, in such enforcement action, if
      successful in whole or in part, shall be entitled to be paid also the expense
      of
      prosecuting his claim. It shall be a defense to any action for which a claim
      for
      indemnification is made under this Agreement (other than an action brought
      to
      enforce a claim for expenses pursuant to Section 6 hereof, provided that the
      required undertaking has been tendered to the Company) that Indemnitee is not
      entitled to indemnification because of the limitations set forth in Sections
      4
      and 8 hereof. Neither the failure of the Corporation (including its Board of
      Directors or its stockholders) to have made a determination prior to the
      commencement of such enforcement action that indemnification of Indemnitee
      is
      proper in the circumstances, nor an actual determination by the Company
      (including its Board of Directors or its stockholders) that such indemnification
      is improper, shall be a defense to the action or create a presumption that
      Indemnitee is not entitled to indemnification under this Agreement or
      otherwise.

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    11. Subrogation.
      In the
      event of payment under this Agreement, the Company shall be subrogated to the
      extent of such payment to all of the rights of recovery of Indemnitee, who
      shall
      execute all documents required and shall do all acts that may be necessary
      to
      secure such rights and to enable the Company effectively to bring suit to
      enforce such rights.

     

    12. Survival
      of Rights.

     

    (a) All
      agreements and obligations of the Company contained herein shall continue during
      the period Indemnitee is an agent of the Company and shall continue thereafter
      so long as Indemnitee shall be subject to any possible claim or threatened,
      pending or completed action, suit or proceeding, whether civil, criminal,
      arbitrational, administrative or investigative, by reason of the fact that
      Indemnitee was serving in the capacity referred to herein.

     

    (b) The
      Company shall require any successor to the Company (whether direct or indirect,
      by purchase, merger, consolidation or otherwise) to all or substantially all
      of
      the business or assets of the Company, expressly to assume and agree to perform
      this Agreement in the same manner and to the same extent that the Company would
      be required to perform if no such succession had taken place.

     

    13. Interpretation
      of Agreement.
      It is
      understood that the parties hereto intend this Agreement to be interpreted
      and
      enforced so as to provide indemnification to the Indemnitee to the fullest
      extent permitted by law including those circumstances in which indemnification
      would otherwise be discretionary.

     

    14. Severability.
      If any
      provision or provisions of this Agreement shall be held to be invalid, illegal
      or unenforceable for any reason whatsoever, (i) the validity, legality and
      enforceability of the remaining provisions of the Agreement (including without
      limitation, all portions of any paragraphs of this Agreement containing any
      such
      provision held to be invalid, illegal or unenforceable, that are not themselves
      invalid, illegal or unenforceable) shall not in any way be affected or impaired
      thereby, and (ii) to the fullest extent possible, the provisions of this
      Agreement (including, without limitation, all portions of any paragraph of
      this
      Agreement containing any such provision held to be invalid, illegal or
      unenforceable, that are not themselves invalid, illegal or unenforceable) shall
      be construed so as to give effect to the intent manifested by the provision
      held
      invalid, illegal or unenforceable and to give effect to Section 13
      hereof.

     

    15. Modification
      and Waiver.
      No
      supplement, modification or amendment of this Agreement shall be binding unless
      executed in writing by both of the parties hereto. No waiver of any of the
      provisions of this Agreement shall be deemed or shall constitute a waiver of
      any
      other provisions hereof (whether or not similar) nor shall such waiver
      constitute a continuing waiver.

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    16. Notice.
      All
      notices, requests, demands and other communications under this Agreement shall
      be in writing and shall be deemed duly given (i) if delivered by hand and
      receipted for by the party addressee or (ii) if mailed by certified or
      registered mail with postage prepaid, on the third business day after the
      mailing date. Addresses for notice to either party are as shown on the signature
      page of this Agreement, or as subsequently modified by written
      notice.

     

    17. Governing
      Law.
      This
      Agreement shall be governed exclusively by and construed according to the laws
      of the State of Delaware as applied to contracts between Delaware residents
      entered into and to be performed entirely within Delaware.

     

    The
      parties hereto have entered into this Indemnity Agreement effective as of the
      date first above written.

     

    
      	
              COMPANY:

            
	
              
                
                  Transdel
                    Pharmaceuticals,
                    Inc.

                

              

            
	 
	
              By:

            	 
	
              Name:

            	 
	
              Title:

            	 

    

     

    
      	
              INDEMNITEE:

            
	 
	
              Address:

            	 
	 	 

    

     

    
      
        
        

      

      
        8

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