Document:

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                                                                   EXHIBIT 10.01

                     SECURED FULL RECOURSE PROMISSORY NOTE

                              San Diego, California

$---------------------                               --------------------, -----
[ADD TOTAL PRINCIPAL]                                [ADD EFFECTIVE DATE]

Reference is made to that certain STOCK OPTION EXERCISE AGREEMENT (the "PURCHASE
AGREEMENT") of even date herewith, by and between the undersigned (the
"PURCHASER") and HNC Software, Inc., a Delaware corporation (the "COMPANY"),
issued to Purchaser under a stock plan of the Company or any of its subsidiaries
or companies acquired by the Company through merger or otherwise (each of such
plans is referred to herein as "PLAN"). This Secured Full Recourse Promissory
Note (the "NOTE") is being tendered by Purchaser to the Company as PART OF the
total purchase price of the Shares (as defined below) pursuant to the Purchase
Agreement.

               1. OBLIGATION. In exchange for the issuance to the Purchaser
pursuant to the Purchase Agreement of _______ shares of the Company's Common
Stock (the "SHARES"), receipt of which is hereby acknowledged, Purchaser hereby
promises to pay to the order of the Company on or before the earliest of a) the
sale of the Shares pledged pursuant to a Stock Pledge Agreement dated of even
date herewith between the Company and Purchaser (the "PLEDGE AGREEMENT"); b) the
expiration date of the stock option agreement pursuant to which the Purchase
Agreement is executed; c) the Purchaser's termination of employment or other
service with the Company; or d) December 31, 2000, at the Company's principal
place of business located at 5935 Cornerstone Ct. W. San Diego, CA 92121 or at
such other place as the Company may direct, the principal sum of
________________________ Dollars ($__________) together with interest compounded
monthly on the unpaid principal at the rate of nine percent (9%), which rate is
not less than the minimum rate established pursuant to Section 1274(d) of the
Internal Revenue Code of 1986, as amended, on the earliest date on which there
was a binding contract in writing for the purchase of the Shares; provided,
however, that the rate at which interest will accrue on unpaid principal under
this Note will not exceed the highest rate permitted by applicable law. All
payments hereunder shall be made in lawful tender of the United States.

               2. SECURITY. Performance of Purchaser's obligations under this
Note is secured by a security interest in the Shares granted to the Company by
Purchaser under the Pledge Agreement. If the Purchaser is not an employee or
director of the Company or subsidiary of Company, Purchase must pledge other
collateral acceptable to Company.

               3. EVENTS OF DEFAULT. Purchaser will be deemed to be in default
under this Note upon the occurrence of any of the following events (each an
"EVENT OF DEFAULT"): (i) upon Purchaser's failure to make any payment when due
under this Note; (ii) Purchaser's service with the Company or subsidiary has
ended (as set forth in the Plan); (iii) the failure of any representation or
warranty in the Pledge Agreement to have been true, the failure of Purchaser to
perform any obligation under the Pledge Agreement, or upon any other breach by
the Purchaser of the Pledge Agreement; (iv) any voluntary or involuntary
transfer of any of the Shares or any interest therein (except a transfer to the
Company); (v) upon the filing regarding the Purchaser of any voluntary or
involuntary petition for relief under the United States Bankruptcy Code or the
initiation of any proceeding under federal law or law of any other jurisdiction
for the general relief of debtors; or (vi) upon the execution by Purchaser of an
assignment for the benefit of creditors or the appointment of a receiver,
custodian, trustee or similar party to take possession of Purchaser's assets or
property.

               4. ACCELERATION; REMEDIES ON DEFAULT. Upon the occurrence of any
Event of Default, at the option of the Company, all principal and other amounts
owed under this Note shall become immediately due and payable without notice or
demand on the part of the Company, and the Company

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will have, in addition to its rights and remedies under this Note, the Pledge
Agreement, full recourse against any real, personal, tangible or intangible
assets of Purchaser, and may pursue any legal or equitable remedies that are
available to it. In full or partial payment of any amounts due under this Note
in the event of Default, Purchaser expressly authorizes the Company to withhold
up to a) 25% of the amount of each of Purchaser's paycheck or bonus from Company
(after other reductions for taxes and benefits); b) 100% of any expense
reimbursement; or c) 100% of any bonus payable (after other reductions for taxes
and benefits) with respect to the distribution of of Retek shares to stock
holders of record on September 15, 2000. BY SIGNING THIS NOTE, PURCHASER
EXPRESSLY ACKNOWLEDGES THAT THE PAYMENT OF ANY CASH BONUS TO WHICH PURCHASER MAY
BECOME ENTITLED IN CONNECTION WITH THE RETEK DISTRIBUTION REFERRED TO IN c) IN
THE PRECEDING SENTENCE WILL BE DEFERRED UNTIL AFTER DECEMBER 31, 2000 AND THAT
IN THE EVENT OF DEFAULT UNDER THIS NOTE, PURCHASER EXPRESSLY AUTHORIZES THE
COMPANY TO OFFSET AS PROVIDED IN c) ABOVE.

               5. RESERVED.

               6. PREPAYMENT. Prepayment of principal and/or other amounts owed
under this Note may be made at any time without penalty. Unless otherwise agreed
in writing by the Company, each payment will be applied to the extent of
available funds from such payment in the following order: (i) first to the
accrued and unpaid costs and expenses under the Note or the Pledge Agreement,
(ii) then to accrued but unpaid interest, and (iii) lastly to the outstanding
principal.

               7. GOVERNING LAW; WAIVER. The validity, construction and
performance of this Note will be governed by the internal laws of the State of
California, excluding that body of law pertaining to conflicts of law. Purchaser
hereby waives presentment, notice of non-payment, notice of dishonor, protest,
demand and diligence.

               8. ATTORNEYS' FEES. If suit is brought for collection of this
Note, Purchaser agrees to pay all reasonable expenses, including attorneys'
fees, incurred by the holder in connection therewith whether or not such suit is
prosecuted to judgment.

               IN WITNESS WHEREOF, Purchaser has executed this Note as of the
date and year first above written.

-----------------------------------        -------------------------------------
Purchaser's Name [type or print]           Purchaser's Signature

   [SIGNATURE PAGE TO HNC SOFTWARE INC. SECURED FULL RECOURSE PROMISSORY NOTE]

<PAGE>   3

                             STOCK PLEDGE AGREEMENT

               This Stock Pledge Agreement (the "PLEDGE AGREEMENT") is made and
entered into as of _______________, _____ [INSERT DATE] between HNC Software,
Inc., a Delaware corporation (the "COMPANY"), and _____________ (the "PLEDGOR").
Capitalized terms that are not defined herein shall have the meanings ascribed
to them in the Secured Full Recourse Promissory Note of even date herewith
delivered by Pledgor to the Company (the "NOTE").

                                 R E C I T A L S

               A. In exchange for delivery of the Note to the Company, the
Company has issued and sold to Pledgor ________ shares of its Common Stock,
$0.001 par value per share, (the "SHARES") pursuant to the terms and conditions
of that certain Purchase Agreement.

               B. Pledgor has agreed that repayment of the Note will be secured
by the pledge of the Shares pursuant to this Pledge Agreement.

               NOW, THEREFORE, the parties agree as follows:

               1. CREATION OF SECURITY INTEREST. Pursuant to the provisions of
the California Commercial Code, Pledgor hereby grants to the Company, and the
Company hereby accepts, a first and present security interest in (i) the Shares,
(ii) all Dividends (as defined in Section 5 hereof), (iii) all Additional
Securities (as defined in Section 6 hereof), to secure payment of the Note and
performance of all Pledgor's obligations under this Pledge Agreement. Pledgor
herewith delivers to the Company Common Stock certificate(s) No(s). __________,
representing all the Shares, together with one or more stock power(s) for each
certificate so delivered in the form attached as an Exhibit to the Purchase
Agreement, duly executed (with the date and number of shares left blank) by
Pledgor and Pledgor's spouse, if any and (iv) such other property acceptable to
Company if Purchaser is not an employee or director of the Company or subsidiary
of Company. For purposes of this Pledge Agreement, the Shares, all Dividends,
and all Additional Securities will hereinafter be collectively referred to as
the "COLLATERAL." Pledgor agrees that the Collateral will be deposited with and
held by the Escrow Holder (as defined in the below) and that, notwithstanding
anything to the contrary in the Purchase Agreement, for purposes of carrying out
the provisions of this Pledge Agreement, Escrow Holder will act solely for the
Company as its agent.

               2. REPRESENTATIONS AND WARRANTIES AND COVENANTS REGARDING
COLLATERAL. Pledgor hereby represents and warrants to the Company that Pledgor
has good title (both record and beneficial) to the Collateral, free and clear of
all claims, pledges, security interests, liens or encumbrances of every nature
whatsoever, and that Pledgor has the right to pledge and grant the Company the
security interest in the Collateral granted under this Pledge Agreement. Pledgor
further agrees that, until all sums due under the Note have been paid in full,
and all of Purchaser's obligations under this Pledge Agreement have been
performed, Purchaser will not, without the Company's prior written consent, (i)
sell, assign or transfer, or attempt to sell, assign or transfer, any of the
Collateral, or (ii) grant or create, or attempt to grant or create, any security
interest, lien, pledge, claim or other encumbrance with respect to any of the
Collateral or (iii) suffer or permit to continue upon any of the Collateral
during the term of this Pledge Agreement, an attachment, levy, execution or
statutory lien.

               3. RIGHTS ON DEFAULT. Upon an occurrence of an Event of Default
under the Note, the Company will have full power to sell, assign and deliver or
otherwise dispose the whole or any part of the Collateral at any broker's
exchange or elsewhere, at public or private sale, at the option of the

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Company, in order to satisfy any part of the obligations of Pledgor now existing
or hereinafter arising under the Note or under this Pledge Agreement. On any
such sale, the Company or its assigns may purchase all or any part of the
Collateral. In addition, at its sole option, the Company may elect to retain all
the Collateral in full satisfaction of Pledgor's obligation under the Note, in
accordance with the provisions and procedures set forth in the California
Uniform Commercial Code. Pledgor agrees at the Company's request, to cooperate
with the Company in connection with the disposition of any and all of the
Collateral and to execute and deliver any documents which the Company shall
reasonably request to permit disposition of the Collateral.

               4. ADDITIONAL REMEDIES. The rights and remedies granted to the
Company herein upon an Event of Default will be in addition to all the rights,
powers and remedies of the Company under the California Uniform Commercial Code
and applicable law and such rights, powers and remedies will be exercisable by
the Company with respect to all of the Collateral. Pledgor agrees that the
Company's reasonable expenses of holding the Collateral, preparing it for resale
or other disposition, and selling or otherwise disposing of the Collateral,
including attorneys' fees and other legal expenses, will be deducted from the
proceeds of any sale or other disposition and will be included in the amounts
Pledgor must tender to redeem the Collateral. All rights, powers and remedies of
the Company will be cumulative and not alternative. Any forbearance or failure
or delay by the Company in exercising any right, power or remedy hereunder will
not be deemed to be a waiver of any such right, power or remedy and any single
or partial exercise of any such right, power or remedy hereunder will not
preclude the further exercise thereof.

               5. DIVIDENDS; VOTING. All dividends hereinafter declared on or
payable with respect to any Collateral during the term of this Pledge Agreement
(excluding only ordinary cash dividends, which will be payable to Pledgor so
long as no Event of Default has occurred under the Note) (the "DIVIDENDS") will
be immediately delivered to the Company to be held in pledge under this Pledge
Agreement. Notwithstanding this Pledge Agreement, so long as Pledgor owns the
Shares and no Event of Default has occurred under the Note, Pledgor will be
entitled to vote any shares comprising the Collateral, subject to any proxies
granted by Pledgor.

               6. ADJUSTMENTS. In the event that during the term of this Pledge
Agreement, any stock dividend, reclassification, readjustment, stock split or
other change is declared or made with respect to the Collateral, or if warrants
or any other rights, options or securities are issued in respect of the
Collateral, (the "ADDITIONAL SECURITIES") then all new, substituted and/or
additional shares or other securities issued by reason of such change or by
reason of the exercise of such warrants, rights, options or securities, will be
(if delivered to Pledgor, immediately surrendered to the Company and) pledged to
the Company to be held under the terms of this Pledge Agreement as and in the
same manner as the Collateral is held hereunder.

               7. ESCROW HOLDER. The Escrow Holder shall be the Company or its
designee.

               8. REDELIVERY OF COLLATERAL; NO RELEASE FOR PARTIAL PAYMENT.

                      (a) Until all obligations of Pledgor under the Note and
under this Pledge Agreement have been satisfied in full, all Collateral will
continue to be held in pledge under this Pledge Agreement

                      (b) Upon performance of all Pledgor's obligations under
the Note and this Pledge Agreement, and subject to the terms and conditions of
the Purchase Agreement, the Company will immediately redeliver the Collateral to
Pledgor and this Pledge Agreement will terminate.

               9. FURTHER ASSURANCES. Pledgor shall, at the Company's request,
execute and deliver such further documents and take such further actions as the
Company shall reasonably request to perfect and maintain the Company's security
interest in the Collateral, or in any part thereof.

<PAGE>   5

               10. SUCCESSORS AND ASSIGNS. This Pledge Agreement will inure to
the benefit of the respective heirs, personal representatives, successors and
assigns of the parties hereto.

               11. GOVERNING LAW; SEVERABILITY. This Pledge Agreement will be
governed by and construed in accordance with the internal laws of the State of
California, excluding that body of law relating to conflicts of law. Should one
or more of the provisions of this Pledge Agreement be determined by a court of
law to be illegal or unenforceable, the other provisions nevertheless will
remain effective and will be enforceable.

               12. MODIFICATION; ENTIRE AGREEMENT. This Pledge Agreement will
not be amended without the written consent of both parties hereto. This Pledge
Agreement, together with the Note constitute the entire agreement of the parties
hereto with respect to the subject matter hereof and supersedes all prior
agreements and understandings related to such subject matter.

               IN WITNESS WHEREOF, the parties hereto have executed this Pledge
Agreement as of the date and year first above written.

HNC SOFTWARE INC.                      PLEDGOR

By:
   --------------------------------    ----------------------------------------
                                       (Signature)

-----------------------------------    ----------------------------------------
(Please print name)                    (Please print name)

-----------------------------------
(Please print title)

<PAGE>   6

                                    EXHIBIT 1

                           STOCK POWER AND ASSIGNMENT
                         SEPARATE FROM STOCK CERTIFICATE

        FOR VALUE RECEIVED and pursuant to that certain Stock Option Exercise
Agreement No. ________ dated as of _______________, _____, (the "AGREEMENT"),
the undersigned hereby sells, assigns and transfers unto
_______________________________, __________ shares of the Common Stock, $0.001
par value per share, of HNC Software, Inc., a Delaware corporation (the
"COMPANY"), standing in the undersigned's name on the books of the Company
represented by Certificate No(s). ______ delivered herewith, and does hereby
irrevocably constitute and appoint the Secretary of the Company as the
undersigned's attorney-in-fact, with full power of substitution, to transfer
said stock on the books of the Company. THIS ASSIGNMENT MAY ONLY BE USED AS
AUTHORIZED BY THE AGREEMENT AND ANY EXHIBITS THERETO.

Dated:  _______________, _____

                                         PURCHASER

                                         ---------------------------------------
                                         (Signature)

                                         ---------------------------------------
                                         (Please Print Name)

                                         ---------------------------------------
                                         (Spouse's Signature, if any)

                                         ---------------------------------------
                                         (Please Print Spouse's Name)

                                         [ ] Check this box if you do not have a
                                             spouse.

INSTRUCTIONS TO PURCHASER: Please do not fill in any blanks other than the
signature line. The purpose of this Stock Power and Assignment is to enable the
Company to acquire the shares upon a default under Purchaser's Note without
requiring additional signatures on the part of the Purchaser or Purchaser's
Spouse.

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                                    EXHIBIT 2

                                 SPOUSE CONSENT

        The undersigned spouse of ______________________________ (the
"PURCHASER") has read, understands, and hereby approves the Stock Option
Exercise Agreement between Purchaser and the Company (the "AGREEMENT"). In
consideration of the Company's granting my spouse the right to purchase the
Shares as set forth in the Agreement, the undersigned hereby agrees to be
irrevocably bound by the Agreement and further agrees that any community
property interest I may have in the Shares shall similarly be bound by the
Agreement. The undersigned hereby appoints Purchaser as my attorney-in-fact with
respect to any amendment or exercise of any rights under the Agreement.

Date:
     ------------------------------

                                             -----------------------------------
                                             Print Name of Purchaser's Spouse

                                             -----------------------------------
                                             Signature of Purchaser's Spouse

                                   Address:
                                             -----------------------------------

                                             -----------------------------------

                                             -----------------------------------RESEARCH AGREEMENT

  THIS RESEARCH AGREEMENT effective as of the 1st day of September,  2000 by and
 between IXION  BIOTECHNOLOGY,  INC., a small  business with offices  located at
 137009 Progress Blvd., Box 13,  (hereinafter  referred to as "SPONSOR") and the
 UNIVERSITY OF FLORIDA,  a member of the State University System of the State of
 Florida, acting for and on behalf of the Board of Regents, a public corporation
 of the State of  Florida  ("UNIVERSITY")  is  entered  into for the  purpose of
 allocating between the parties certain rights relating to and SBIR a project to
 be carried  out by  Sponsor  and  University  (hereinafter  referred  to as the
 ("PARTIES")  under an SBIR funding  agreement that may be awarded by the Public
 health  Service/National  Institutes of Health  ("Agency") to sponsor to fund a
 proposal   entitled   "Enzyme-coating   of   Urinary   Prostheses   to  Prevent
 Encrustation" submitted to Agency by Sponsor on or about December 14, 1999.

                                   WITNESSETH

  WHEREAS,  there search program  contemplated by this Research  Agreement is of
 mutual  interest  and benefit to  University  and to Sponsor,  will further the
 instructional and research objectives of University in a manner consistent with
 its status as a non-profit, tax-exempt, educational institution, and may derive
 benefits  for both  Sponsor and  University  through  inventions,  improvements
 and/or discoveries;

  NOW,  THEREFORE,  in consideration of the premises and mutual covenants herein
 contained, the parties hereto agree to the following:

Article 1 Definitions

  As used herein, the following terms shall have the following meanings:

  1.1 "Project"  shall mean the description of the project described in Appendix
 A  hereof,  under  the  direction  of  Dr.  Laurie  Gower,  as  co-investigator
 (University project director).

  1.2 "Contract Period" is 09/01/00 through 02/28/01.

  1.3  "Background  Intellectual  Property"  means  property and the legal right
 therein  of either or both  parties  developed  before or  independent  of this
 Research  Agreement  including   inventions,   patent  applications,   patents,
 copyrights, trademarks, mask works, trade secrets and any information embodying
 proprietary data such as technical data and computer software.

  1.4  "Project  Intellectual  Property"  means the  legal  rights  relating  to
 inventions,  patent applications,  patents,  copyrights trademarks, mask works,
 trade secrets and any other legally protectable information, including computer
 software,  first made or  generated  during the  performance  of this  Research
 Agreement and arising out of the Research Agreement.

  Article 2 Research Work

  2.1 University  shall commence the  performance of Project  promptly after the
 effective date of this Research Agreement,  and shall use reasonable efforts to
 perform such Project  substantially in accordance with the terms and conditions
 of this Research Agreement. Anything in this Research Agreement to the contrary
 notwithstanding, Sponsor and University may at any time amend Project by mutual
 written agreement.

  2.2 In the event that the Principal  Investigator  becomes unable or unwilling
 to continue  Project,  and a mutually  acceptable  substitute is not available,
 University and/or Sponsor shall have the option to terminate said Project.

  Article 3 Reports and Conferences

  3.1 A final  report shall be submitted  by  University  to the Sponsor  within
 forty-five  (45)  days of the  conclusion  of the  Contract  Period,  or  early
 termination of this Research Agreement.

  3.2 During the term of this Research Agreement,  representatives of University
 will meet with  representatives  of Sponsor at times and places mutually agreed
 upon to discuss the progress and results,  as well as ongoing plans, or changes
 therein, of Project to be performed hereunder.

Article 4 - Costs, Billings and Other Support

  4.1 It is agreed to and  understood  by the parties  hereto  that,  subject to
 Article 2 the total costs to Sponsor hereunder shall be $25,000.

  4.2 This is a fixed price agreement.  The Sponsor shall pay in full $25,000 no
 later that (30) days from final signature of this agreement.

Article 5 - Publicity

  5.1  Sponsor  will  not  use the  name of  University,  nor of any  member  of
 University's  Project  staff,  in any publicity,  advertising,  or news release
 without  the  prior  written  approval  of  an  authorized   representative  of
 University.  University  will not use the name of Sponsor,  nor any employee of
 Sponsor, in any publicity without the prior written approval of Sponsor.

  Article 6 - Confidentiality/Publication

  6.1 Background  Intellectual  Property and Project Intellectual  Property of a
 party,  as well as other  proprietary or  confidential  information of a party,
 disclosed by that party to the other in connection with this SBIR project shall
 be received  and held in  confidence  for a period of 5 years by the  receiving
 party and,  except with the consent of the  disclosing  party or ;as  permitted
 under  this  Research  Agreement,  neither  used  by the  receiving  party  nor
 disclosed by the receiving  party to others,  provided that the receiving party
 has  notice  that such  information  is  regarded  by the  disclosing  party as
 proprietary or confidential.  Such information  shall be marked as confidential
 or  proprietary,  and any verbal  information  shall be reduced to writing  and
 marked  as  confidential  or  proprietary  within  (10)  business  days of such
 disclosure.  However, these confidentiality  obligations shall not apply to use
 or disclosure by the receiving party after such information is or becomes known
 to the public  without  breach of this  provision or is or becomes known to the
 receiving  party from a source  reasonably  believed to be  independent  of the
 disclosing party or is developed by or for the receiving party independently of
 its disclosure by the disclosing party.

  6.2 Either  party may  publish  its results  from this SBIR  project.  Sponsor
 recognizes  that under  University  academic  policy the results of  University
 research projects must be publishable.  However, the publishing party will give
 a right of review to the other  party with  respect to a proposed  publication,
 with a (30) day  period in which to review  proposed  publications  and  submit
 comments,   which  will  be  given  full  consideration   before   publication.
 Furthermore,  upon request of the reviewing party, publication will be deferred
 for  up to  (90)  additional  days  for  preparation  and  filing  of a  patent
 application which the reviewing party has the right to file or to have filed at
 its request by the publishing party.

  Article 7 - Intellectual Property

  7.1 This  Research  Agreement  shall not be construed as implying  that either
 party hereto shall have the right to use  Background  Intellectual  Property of
 the other in  connection  with this SBIR project  except as otherwise  provided
 hereunder.

  7.1.1 The following  Background  Intellectual  Property of Sponsor may be used
 nonexclusively  without  compensation by University in connection with research
 or development activities for this project (if none, so state):

  7.1.2 The following Background  Intellectual Property of the University may be
 used  nonexclusively  and except as noted,  without  compensation by Sponsor in
 connection  with research or development  activities for this project (if none,
 so state):

  7.2 Except as otherwise  provided  herein,  ownership of Project  Intellectual
 Property shall vest in the party whose  personnel  conceived the subject matter
 or first actually  reduced the subject  matter to practice,  and such party may
 perfect  legal  protection  therein  in its own  name  and at its own  expense.
 Jointly made or generated Project Intellectual  Property shall be jointly owned
 by the Parties unless otherwise  agreed in writing.  The Sponsor shall have the
 first option for a period of (60) days to perfect the rights in jointly made or
 generated Project Intellectual Property unless otherwise agreed in writing.

  7.2.1 The Parties agree to disclose to each other, in writing,  each and every
 Subject Invention,  which may be patentable or otherwise  protectable under the
 United  States  patent  laws in Title  35,  United  States  Code.  The  Parties
 acknowledge  that they will disclose  Subject  Inventions to each other and the
 Agency within (30) days after their respective  inventor(s)  first disclose the
 invention in writing to the  person(s)  responsible  for patent  matters of the
 disclosing  Party.  All written  disclosures of such  inventions  shall contain
 sufficient  detail of the invention,  identification of any statutory bars, and
 shall be marked confidential, in accordance with 35 U.S.C. 205.

  7.2.2 Each party  hereto may use  Project  Intellectual  Property of the other
 nonexclusively  and  without   compensation  in  connection  with  research  or
 development  activities  for this SBIR  project,  including  inclusion  in SBIR
 project reports to the Agency and proposals to the Agency for continued funding
 of this SBIR project through  additional  phases.  University shall also retain
 the right to practice the Project Intellectual  Property for any educational or
 research purpose.

  7.2.3 In addition to the Government's rights under the Patent Rights clause of
 37CFR 401.14,  the Parties agree that the Government shall have an irrevocable,
 royalty free,  nonexclusive license for any governmental purpose in any Project
 Intellectual Property.

  7.2.4 Sponsor will have an option to  commercialize  the Project  Intellectual
 Property of  University  subject to any rights of the  Government  therein,  as
 follows:

  A.  Where  Project  Intellectual  Property  of  University  is  a  potentially
 patentable  invention,  Sponsor will have an exclusive  option for a license to
 such invention,  for an initial option period of (60) days after such invention
 has been  reported to Sponsor.  Sponsor may, as its election and subject to the
 patent expense reimbursement provisions of this section, extend such option for
 an additional (90) days by giving written notice of such election to University
 prior to the expiration of the initial option period. During the period of such
 option  following  notice by Sponsor of  election  to extend,  University  will
 pursue and  maintain  any patent  protection  for the  invention  requested  in
 writing by Sponsor and,  except with the written consent of Sponsor or upon the
 failure of Sponsor to  reimburse  patenting  expenses  as  required  under this
 section,  will not  voluntarily  discontinue the pursuit and maintenance of any
 United States patent protection for the invention initiated by University or of
 any patent protection requested by Sponsor.

  For any invention for which Sponsor gives of is election to extend the option,
 Sponsor will,  within (30) days after  invoice,  reimburse  University  for the
 expenses  incurred by  University  prior to expiration  or  termination  of the
 option  period  in  pursuing  and  maintaining  (i) any  United  States  patent
 protection initiated by University; and (ii) any patent protection requested by
 Sponsor.  Sponsor may terminate such option at will by giving written notice to
 than prior commitments not practically revocable,  will cease upon University's
 receipt of such notice.  At any time prior to the  expiration or termination of
 an  option,  Sponsor  may  exercise  such  option by giving  written  notice to
 University,  whereupon  the parties will  promptly and in good faith enter into
 negotiations  for a license under  University's  patent rights in the invention
 for Sponsor to make, use and/or sell products and/or  services that embody,  or
 the development,  manufacture  and/or use of which involves  employment of, the
 invention.  The terms of such license will  include:  (i) payment of reasonable
 royalties to University on sales of products or services  which embody,  or the
 development, manufacture or use of which involves employment of, the invention;
 and in the case of an  exclusive  license,  (ii)  reasonable  commercialization
 milestones and/or minimum royalties.

  B  Where  Project  Intellectual   Property  of  University  is  other  than  a
 potentially  patentable invention,  Sponsor will have an exclusive option for a
 license, for an option period extending until (60) days following completion of
 University's  performance  of the phase of this  project in which such  Project
 Intellectual  Property of University  was developed by University and disclosed
 to  Sponsor.  Sponsor may  exercise  such  option by giving  written  notice to
 University,  whereupon  the parties will  promptly and in good faith enter into
 negotiations  for a license under  University's  interest in the subject matter
 for Sponsor to make, use and/or sell products or services which embody,  or the
 development,  manufacture  and/or  use of which  involve  employment  of,  such
 Project  Intellectual  Property of  University.  The terms of such license will
 include: (i) payment of reasonable royalties to University on sales of products
 or  services  that  embody,  or the  development,  manufacture  or use of which
 involves employment of, the Project Intellectual Property of University and, in
 the case of an exclusive license, (ii) reasonable  commercialization milestones
 and/or minimum royalties.

   Article 8 - Grant of Rights

  8.1  Pursuant to Article 7, if Sponsor  elects not to  exercise  its option or
 decides to discontinue the financial  support of the prosecution or maintenance
 of the protection,  University shall be free to file or continue prosecution or
 maintain  any such  application(s),  and to  maintain  any  protection  issuing
 thereon in the U.S.  and in any foreign  country at  University's  sole expense
 with no further obligation to Sponsor.

  Article 9 - Term and Termination

  9.1 This  Research  Agreement  shall  become  effective  upon  the date  first
 hereinabove  written  and shall  continue  effect for the full  duration of the
 Contract  Period unless sooner  terminated in accordance with the provisions of
 this Article. The parties hereto may, however, extend the term of this Research
 Agreement for additional  periods as desired under mutually agreeable terms and
 conditions  which the  parties  reduce to writing  and sign.  Either  party may
 terminate  this Research  Agreement  upon (60) days prior written notice to the
 other.

  9.2 In the event  that  either  party  hereto  shall  commit  any breach of or
 default in any of the terms or conditions of this Research Agreement,  and also
 shall fail to remedy such default or breach with sixty (60) days after  receipt
 of written notice thereof from the other party hereto,  the party giving notice
 may, at this option and in addition to any other  remedies which it may have at
 law or in equity,  terminate  this  Research  Agreement  by  sending  notice to
 termination in writing to the other party to such effect,  and such termination
 shall be effective as of the date of the receipt of such notice.

  9.3  Termination  of this  Research  Agreement  by either party for any reason
 shall not affect the rights and obligations of the parties accrued prior to the
 effective  date of termination  of this Research  Agreement.  No termination of
 this Research  Agreement,  however  effectuated,  shall affect  either  party's
 rights and obligations under Articles 4,5,6,7,8, and 10.

  9.4 Should this Research Agreement be terminated,  Sponsor shall pay all costs
 and  any  uncancellable  encumbrances  accrued  by  University  as of  date  of
 termination.

Article 10 - Independent Contractor

  10.1 In the performance of all services hereunder.

  10.1.1 University shall be deemed to be and shall be an independent contractor
 and, as such,  University  shall not be entitled to any benefits  applicable to
 employees of Sponsor.

  10.1.2  Neither party is authorized or empowered to act as agent for the other
 for any purpose  and shall not on behalf of the other enter into any  contract,
 warranty,  or  representation  as to any matter.  Neither shall be bound by the
 acts or conduct of the other.

  Article 11 - Insurance

  11.1 University warrants and represents that University has adequate liability
 insurance, such protection being applicable to officers,  employees, and agents
 while acting within the scope of their employment by University, and University
 has no liability  insurance  policy as such that can extend  protection  to any
 other person.

  11.2 Sponsor will indemnify and hold harmless the Agency and  University  with
 regard to any claims 11.3 arising in connection with  commercialization  of the
 results of this project by or under the authority of the Sponsor.

  Article 12 - Governing Law

  12.1 This  Research  Agreement  shall be governed and  construed in accordance
 with the laws of the State of Florida.

Article 13 - Assignment

13.1 This Research  Agreement shall not be assigned to any third party by either
 party without the prior written consent of the parties hereto.

  13.2 This Research  Agreement is  assignable  to any division of Sponsor,  any
 majority stockholders of Sponsor,  and/or any subsidiary of Sponsor in which 51
 percent of the outstanding stock is owned by Sponsor.

  Article 14 - Research Agreement Modification

  14.1 Any agreement to change the terms of this  Research  Agreement in any way
 shall be valid  only if the change is made in writing  and  approved  by mutual
 agreement of authorized representatives of the parties hereto.

  Article 15 - Notices

  15.1 Notices, invoices, communications, and payments hereunder shall be deemed
 made if given  by  registered  or  certified  envelope,  postage  prepaid,  and
 addressed to the party to receive such notice, invoice, or communication at the
 address  given below,  or such other  address as may hereafter be designated by
 notice in writing:

If to Sponsor                           Ixion Biotechnology, Inc.
                                        13709 Progress Blvd. Box 13
                                        Alachua, FL  32615
                                        Attn:  Chief Executive Officer

If to University:
Office of Engineering Research          University of Florida
                                        319 Weil Hall
                                        Gainesville, FL  32611

If Technical Matter:                    Dr. Laurie Gower
                                        Department of Material Science
                                        and Engineering
                                        University of Florida
                                        Gainesville, FL  32610

  In Witness  Whereof,  the parties have caused these presents to be executed in
 duplicate as of the day and year above written.

Ixion Biotechnology, Inc.                      University of Florida
/s/ Weaver H. Gaines                           /s/ Sandra Goldstein
____________________                           _______________________
By:  Weaver H. Gaines                          By:  Sandra Goldstein
Title:  Chairman and                           Title:  Associated Director
Chief Executive Officer                        for Research
Date:  10/16/00                                Date:

/s/ Laurie Gower
_________________________
Dr. Laurie Gower
University Project Director

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