Document:

Research
      Collaboration Agreement

     

    This
      agreement (this “Agreement”)
      is
      made and entered into as of the 22 day of June, 2006 (the “Effective
      Date”)
      by and
      between Rosetta
      Genomics Ltd.,
      a
      private company registered pursuant to the laws of the State of Israel, of
      10
      Plaut Street, Science Park, Rehovot, Israel (“Rosetta”)
      and
Hadasit
      Medical Research Services and Development Ltd., a
      private
      company registered under the laws of the state of Israel, of Hadassah Medical
      Hospital, POB 12000, Jerusalem, Israel (“Hadasit”). 

     

    WHEREAS,
      ROSETTA has developed confidential and proprietary technology relating to
      microRNA sequences including an algorithm for the prediction of microRNAs,
      techniques for validation of predicted microRNAs on a given material, microRNA
      expression profiling technology, analysis algorithms for the detection of
      biomarkers based on microRNA expression profiling and techniques for
      establishing the relationships between microRNAs and diseases and has identified
      a large number of microRNA sequences using certain of its proprietary technology
      and/or proprietary materials; and

     

    WHEREAS,
      Hadasit is a subsidiary of Hadassah Medical Organization (“HMO”)
      and is
      charged with the commercial exploitation of the intellectual property and other
      potentially valuable assets of HMO; and

     

    WHEREAS,
      Rosetta, Hadasit and HMO desire to collaborate in a research projects according
      to the protocols described in Appendix A (which will be updated by the Parties
      on mutual consent), pursuant to which HMO will provide Rosetta with its clinical
      know how, data and expertise, patients’ specimens (“Specimens”)
      and
      related data (collectively, “Materials”),
      and
      shall perform certain activities as specified hereunder, in order for Rosetta
      to
      utilize its proprietary technology and know-how for the research of the
      expression of Rosetta MicroRNAs (as defined below) and additional publicly
      known
      microRNAs in the Materials pertaining to a diagnostic and therapeutic
      application (the “Research
      Project”);
      and

     

    WHEREAS,
      the parties wish to set forth herein the definitive terms of the collaboration
      of the parties with respect to the performance of the Research Project and
      the
      future rights to any of its results;

     

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

     

    
      	1     
              	
              Definitions.
                In addition to those terms defined elsewhere in this Agreement, each
                of
                the following terms shall have the meaning set forth opposite it,
                unless
                the context otherwise requires:

            

    

     

    
      	1.1  	
              “Affiliate”
                of a Party or other entity shall mean any entity that, directly or
                indirectly, is controlled by, controls, or is under common control
                with
                such Party including (i) any corporation or business entity of which
                at
                least fifty percent (50%) or the maximum ownership interest permitted
                by
                applicable law in the country where such entity exists, whichever
                is less,
                of the securities or other ownership interests representing the equity
                or
                right to receive profits, the voting stock, general partnership interest
                or power to direct the affairs of such entity, are owned, controlled
                or
                held, directly or indirectly, by a Party
                or
                such entity;
                (ii) any corporation or business entity which, directly or indirectly,
                owns, controls or holds at least fifty percent (50%) or the maximum
                ownership interest permitted by law in the country where a Party
                or such
                entity exists, whichever is less, of the securities or other ownership
                interests representing the equity or right to receive profits, voting
                stock, general partnership interest or power to direct the affairs
                of, a
                Party or such entity; or (iii) any corporation or business entity
                of which
                a Party or such entity has the right to acquire, directly or indirectly,
                at least fifty percent (50%) or the maximum ownership interest permitted
                by law in the country where such entity exists, whichever is less,
                of the
                securities or other ownership interests representing the equity or
                right
                to receive profits, voting stock, general partnership interest or
                power to
                direct the affairs, thereof.

            

    

     

    
      Portions
        of this Exhibit were omitted and have been filed separately with the Secretary
        of the Commission pursuant to the Company’s application requesting confidential
        treatment under Rule 406 of the Securities Act.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    
      	1.2  	
              “Combination
                Product”
                shall mean a product, substance or device which is not an internal
                development of Rosetta derived from the Research Results, and which
                incorporates a product based on the Patent Assets and at least one
                other
                essential additional ingredient, substance, compound or element which
                either (i) when administered to a patient, has a therapeutic or
                prophylactic clinical effect, either directly or by acting synergistically
                with other compounds or substances contained in such product, (ii)
                is
                required for delivery of another compound or substance contained
                in such
                product or (iii) otherwise enhances the effect another compound or
                substance contained in such
                product.

            

    

     

    
      	1.3  	
              “Customers”
                shall mean patients, hospitals, medical institutions, health funds,
                pharmacies and other retailers, provided that they are not an Affiliate
                of
                Rosetta Genomics. 

            

    

     

    
      	1.4  	
              “First
                Commercial Sale”
                shall mean the first for-profit sale of a Product or a Service by
                Rosetta
                Genomics or its Affiliates in any country in the Territory, for end
                use or
                consumption; provided, that, any sale to an Affiliate or Sublicensee
                will
                not constitute a First Commercial Sale unless the Affiliate or Sublicensee
                is the last entity in the distribution chain of the Product or
                Service.

            

    

     

    
      	1.5  	
              “Intellectual
                Property”
                shall mean all intellectual property, whether or not protected by
                patents
                or patent applications, including, but not limited to, trade secrets,
                procedures, protocols, inventions, databases, know how, inventions,
                improvements, discoveries, conceptions, ideas, techniques, designs,
                products, developments, specifications, methods, drawings, diagrams,
                models, software programs, data, data analysis, data interpretation,
                written reports, and all rights therein including copyright, patent
                rights, database rights, rights in designs and all registrations
                and
                applications therefore, and all continuations, continuations in part,
                divisional applications, and renewals of any of the foregoing, in
                any part
                of the world.

            

    

     

    
      	1.6  	
              “Net
                Sales”
                shall mean the aggregate gross amount invoiced with respect to Products
                sold or provided in the Territory, by Rosetta or its Affiliates to
                Customers, after deducting (if not previously deducted from the amount
                invoiced):

            

    

     

    
      	
            	(i)	
              quantity
                and/or cash discounts directly related to the sale of the Product;
                

            

    

     

    
      	
            	(ii)	
              customs
                duties, VAT or any other sales taxes or levies to the extent applicable
                to
                the sale or export of Products or Services and not collected separately
                from the counterparty to the sale; 

            

    

     

    
      Portions
        of this Exhibit were omitted and have been filed separately with the Secretary
        of the Commission pursuant to the Company’s application requesting confidential
        treatment under Rule 406 of the Securities Act.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    
      	
            	
              (iii)

            	
              recalls,
                credits and allowances on account of returned or rejected products,
                including, but not limited to, allowance for breakage or
                spoilage;

            

    

     

    
      	
            	(iv)	
              payments
                paid in connection with transporting, packaging and insuring the
                Products
                and appearing separately on invoices; and

            

    

     

    
      	
            	(v)	
              amounts
                not actually collected; 

            

    

     

    provided
      however that:

     

    
      	
            	(i)	
              In
                any transactions between Rosetta and an Affiliate, Net Sales shall
                be
                [***], in each case, after appropriate deductions as set forth
                above;

            

    

     

    
      	(ii)         
               	
              In
                the event that Rosetta or its Affiliate receives non-monetary
                consideration for any transaction, Net Sales shall be calculated
                based on
                the fair market value of such consideration, except that with respect
                to
                Net Sales received in the form of equity,
                [***]

            

    

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
            	(iii)	
              In
                the event a Product is sold by Rosetta, or an Affiliate of Rosetta
                in the
                form of a Combination Product, Net Sales from such Combination Product,
                for purposes of determining Royalties, shall be determined by multiplying
                the actual Net Sales of such Combination Product during the applicable
                royalty reporting period, by the fraction [***]. In the event that
                such
                average sale price cannot be determined for both the product based
                on the
                Patent Rights and all other ingredients, substances, compounds or
                elements
                included in the Combination Product, Net Sales for the purpose of
                determining royalties shall be calculated by multiplying the Net
                Sales of
                the Combination Products by the fraction [***]. In such event, the
                parties
                shall negotiate in good faith to arrive at a determination of the
                respective fair market values of the product based on the Patent
                Assets
                and all other additional ingredients included in the Combination
                Product.
                

            

    

     

    For
      the
      sake of clarity, Net Sales shall not include amounts received by Rosetta as
      grants or other research funding, but shall include, in addition to amounts
      received for sale of Collaboration Products by Rosetta or its Affiliates as
      described above, revenues received as consideration for a sublicense of the
      rights to commercialize a Product.

     

    
      	1.7  	
              “Patent
                Rights”
                shall mean United States and foreign patents and patent applications
                (which shall be deemed to include certificates of invention and
                applications for certificates of invention) which as of the Effective
                Date
                or at any time during the term of this Agreement relate in any way
                to
                Research Results, including all certificates of invention, divisions,
                continuations, continuations-in-part, reissues, renewals, extensions,
                supplementary protection certificates or the like of any such patents
                and
                current and future patent applications, and any counterparts thereof
                which
                may be filed in other countries. Any Patent Rights and any subsequent
                changes thereto shall be attached hereto as Schedule 1.7, provided,
                however, that the failure to include the then current Patent Rights
                in
                Schedule 1.7 from time to time shall not affect the Parties’ respective
                rights and obligations under this Agreement.

            

    

     

    
      	1.8  	
              “Products”
-
                any products developed and/or manufactured based upon and/or in connection
                with the Patent Rights.

            

    

     

    
      	1.9  	
              “Proprietary
                Information”
                shall mean any and all scientific, clinical, regulatory, marketing,
                financial and commercial information or data, including the terms
                of this
                Agreement, whether communicated in writing, orally or by any other
                means,
                which is provided by one Party to the other Party in connection with
                this
                Agreement.

            

    

     

    
      	1.10  	
              “Research
                Results”
                shall mean any and all microRNAs expression profiling data measured
                on the
                Materials, and its analysis pertaining to potential diagnostic
                application, as determined in the course of the performance of the
                Research Project.

            

    

     

    
      	1.11  	
              “Rosetta
                MicroRNAs”
                shall mean any novel human and non-human (including virus and bacteria)
                microRNAs predicted or which may be predicted by
                Rosetta.

            

    

     

    
      	1.12  	
              “Sub
                License”
-
                shall mean any right granted, licence and/or sublicense given, or
                agreement entered into, by Rosetta to or with any other person or
                entity,
                permitting any use of the Research and/or the Patents (or any part
                thereof) for the development and/or manufacture and/or marketing
                and/or
                distribution and/or sale of Products;

            

    

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	1.13  	
              “Sublicense
                Income”
                shall mean all royalties, license fees and milestone payments paid
                by a
                Sublicensee to Rosetta in consideration of the grant of a Sublicense
                to
                such Sublicensee. [***].

            

    

     

    
      	1.14  	
              “Sub
                Licensee”
                shall mean a sublicensee who was granted a Sublicense from Rosetta
                Genomics.

            

    

     

    
      	1.15  	
              “Territory”
                shall mean all the countries in the
                world.

            

    

     

    
      	1.16  	
              “Valid
                Claim”
                means a claim of an issued and unexpired patent included within the
                Patent
                Rights, which has not been revoked or held unenforceable or invalid
                by a
                decision of a court or other governmental agency of competent
                jurisdiction, unappealable or for which an appeal has not been filed
                within the time allowed for appeal, and which has not been disclaimed,
                denied or admitted to be invalid or unenforceable through reissue
                or
                disclaimer or otherwise. 

            

    

     

    
      	2   
               	
              The
                Research Project. 

            

    

     

    
      	2.1  	
              The
                parties will collaborate in the performance of the Research Project,
                pursuant to the following terms and
                conditions:

            

    

     

    
      	2.2  	
              The
                Research Project shall include multiple trials as agreed upon by
                the
                Parties (the Trials”), each Trial shall be performed in accordance with a
                protocol to be prepared by the company for each Trial and agreed
                upon by
                Hadasit (the “Protocol”). Each Protocol will be attached to this agreement
                as Appendix A1, A2 and so forth and constitute an integral part of
                this
                Agreement. The remuneration for advisory services provided during
                each
                Trial shall be agreed upon by both Parties in advance and shall be
                specified in a budget schedule, executed by both Parties for each
                Trial
                and attached to the Trial’s Protocol (the “Budget Schedule”). The Budget
                Schedule of each Trial shall be attached to this agreement as Appendix
                B1,
                B2 and so forth and constitute an integral part of this Agreement.
                the
                Protocol and the Budget Schedule collectively hereinafter: the “Protocol
                Plan”; The Protocol Plan for each Trial shall constitute an integral part
                of this Agreement.

            

    

     

    
      	2.3  	
              The
                first Trials shall be conducted according to the Protocol attached
                to this
                Agreement as Appendix A1 Appendix A2, and constituting an integral
                part
                thereof ("Protocol A1" and “Protocol A2”). Hadasit, HMO and Rosetta shall
                perform the activities mentioned in Protocol A1 and Protocol A2.
                Hadasit
                shall procure the performance of the the activities designated to
                it in
                Protocol A1 and in any other Protocol, by
                HMO.

            

    

     

    
      	2.4  	
              Rosetta
                shall oversee the conduct of the Research Project. Hadasit shall
                designate
                a senior researcher for each Protocol. (the “Investigator”) to collaborate
                with Rosetta in carrying out HMO’s activities related to the Research
                Project. 

            

    

     

    
      	2.5  	
              Either
                party may conduct additional research projects, independently or
                with
                other third parties, in parallel to or following the Research Project,
                and
                nothing in this Agreement shall prevent a party from engaging in
                any
                additional research, provided that it fulfills its obligations
                hereunder.

            

    

     

    
      	2.6  	
              Each
                party represents and warrants that it is legally authorized and entitled
                to assume all responsibilities under this
                Agreement.

            

    

     

    
      	2.7  	
              It
                is a condition precedent to the validity of this Agreement with respect
                to
                each Trial that this Agreement shall come into effect with respect
                to each
                Trial only after approval is received from: the Helsinki Committee
                and the
                HMO’s Committee for Research Contracts with Commercial Companies. The
                approval of the Helsinki Committee shall approve all the following:
                (a)
                the Protocol of the Trial (b) the transfer of the Study Specimens
                to
                Rosetta, (c) the use of the Study Specimens under the study to be
                conducted by Rosetta (the “Study”) (d) the Study. The performance of each
                Trial shall commence only after the Helsinki Committee approves the
                above
                with respect to such Trial.

            

    

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	2.8  	
              Both
                parties undertake to perform the Research Project, in compliance
                with the
                following: (1) the Ministry Guidelines, as defined herein; (2) the
                instructions and the terms specified in the approval of the Helsinki
                Committee; and (3) the applicable laws, rules and regulations regulating
                such studies which are applicable in Israel. The “Ministry
                Guidelines”the
                MOH Guidelines titled “Clinical Trials of Human Subjects” issued in
                January 2006 including appendix 4 to the guidelines. Rosetta shall
                use the
                Study Specimens solely for the purpose of the Study and not for any
                other
                purposes whatsoever. 

            

    

     

    
      	2.9  	
              Rosetta
                shall use and dispose of the Study Specimens in accordance with the
                State
                of Israel’s laws, rules, regulations and guidelines regulating and/or
                applicable and/or relevant to the use of the Study Specimens under
                the
                Study and to their disposal following the completion of the Study.
                

            

    

     

    
      	2.10  	
              Rosetta
                shall keep full and accurate records with respect to the use and
                to the
                dates and manner of disposal of each and every Study Specimen and
                shall
                provide such records to the Fund for examination, upon the Fund’s request.
                

            

    

     

    
      	2.11  	
              Notwithstanding
                the above, nothing contained herein shall be construed as a warranty
                by
                Hadasit and/or the HMO and/or any other party involved in the Research
                Project, that the Research Results will be useful or commercially
                exploitable or of any value whatsoever. In addition, and without
                derogating from the aforementioned, the above parties disclaim all
                warranties, either express or implied, with respect to any products
                that
                incorporate, integrate or are designed based in whole or part, on
                the
                Research Results (“New
                Products”),
                including without limitation implied warranties of merchantability,
                efficacy and fitness for a particular purpose.

            

    

     

    
      	3   
               	
              Permitted
                Uses of Information, Rights to the Research Results and Intellectual
                Property. 

            

    

     

    
      	3.1  	
              Hadasit
                may use the information provided by Rosetta regarding the results
                of the
                Research Project under the terms of this agreement for research and
                academic purposes only. Notwithstanding the confidentiality obligations
                of
                Section 5, Hadasit may publish the information in accordance with
                Section 6 below.

            

    

     

    
      	3.2  	
              All
                right, title and interest in and to the Research Results and any
                intellectual property deriving there from, whether they shall be
                protected
                by intellectual property rights or not, shall be jointly owned by
                and vest
                with both Hadasit and Rosetta. 

            

    

     

    
      	3.3  	
              Each
                party shall remain the sole owner of its own Intellectual Property.
                It is
                hereby expressly agreed that, nothing in this Agreement shall constitute
                or be considered as constituting a transfer or license of any Intellectual
                Property by one party to the other.

            

    

     

    
      	4   
                	
              Patents

            

    

     

    
      	4.1  	
              Filing,
                Prosecution and Maintenance of Patent Applications or
                Patents

            

    

     

    
      	4.1.1  	
              Patent
                Rights.
                Rosetta, acting through patent counsel of its choice, shall be
                responsible, at its sole expense, for the preparation, filing, prosecution
                and maintenance of all Patent Rights in Rosetta’s and Hadasit’s name. At
                Rosetta’s request, Hadasit shall cooperate with Rosetta in all reasonable
                respects in connection with such preparation, filing, prosecution
                and
                maintenance of Patent Rights. 

            

    

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	4.1.2  
               	
              Review
                of Patent Applications.
                In
                each case, the Rosetta shall give Hadasit an opportunity to review
                the
                text of the application before filing, shall consult with Hadasit
                with
                respect thereto, and shall supply Hadasit with a copy of the application
                as filed, together with notice of its filing date and serial number.
                Rosetta shall keep Hadasit advised of the status of the actual and
                prospective patent application filings and upon the request of Hadasit,
                shall provide advance copies of any papers related to the filing,
                prosecution, or maintenance of such patent application filings.
                

            

    

     

    
      	4.1.3 
                	
              Right
                of Hadasit to Prosecute and Maintain Patents.
                Rosetta shall give notice to Hadasit of any desire to cease prosecution
                and/or maintenance of the Patent Rights and, in such case, shall
                permit
                Hadasit, at its sole discretion, to continue prosecution and/or
                maintenance at its own expense. In the event that Hadasit continues
                prosecution and/or maintenance at its own expense, Rosetta shall
                have no
                rights to any such patent/patent application and any license granted
                to it
                for such patent/patent application shall terminate. Provided however
                that
                in the event that Roestta’s notice of its desire to cease prosecution
                and/or maintenance related to certain Patent Rights and/or certain
                countries, then the license shall terminate only with regard to those
                patent rights and/or in those countries.

            

    

     

    
      	4.2  
                 	
              Patent
                Office Proceedings.
                Hadasit shall reasonably cooperate with Rosetta with respect to any
                patent
                office proceeding.

            

    

     

    
      	4.3    
               	
              Enforcement
                and Defense.

            

    

     

    
      	4.3.1 
               	
              Each
                Party shall promptly give the other Party notice of any infringement
                in
                the Territory of any patent application or patent included in the
                Patent
                Rights that comes to such Party’s attention. The Parties will thereafter
                consult and cooperate fully to determine a course of action, including,
                without limitation, the commencement of legal action by either Party.
                Rosetta, upon notice to Hadasit, shall have the first right to initiate
                and prosecute such legal action at its own expense and in the name
                of
                Hadasit and Rosetta, as applicable, or to control the defense of
                any
                declaratory judgment action relating to the Patent Rights. Rosetta
                shall
                promptly inform Hadasit if Rosetta elects not to exercise such first
                right, and Hadasit thereafter shall have the right, in its discretion,
                to
                initiate and prosecute such action or to control the defense of such
                declaratory judgment action (“Manage Proceedings”) in the name of Hadasit
                and Rosetta. In the event that Rosetta elects not to Manage Proceedings
                and Hadasit elects to Manage Proceedings, Rosetta shall have no rights
                to
                any such patent/patent application and any license granted to it
                for such
                patent/patent application shall terminate. Provided however that
                in the
                event elected not to Manage Proceedings only with regard to certain
                patent
                applications and/or certain countries, and Hadasit Managed Proceedings
                for
                such patent applications and/or in such countries, then the license
                will
                terminate only with regard to those patent assets and/or in these
                countries. In no event shall Rosetta enter into any settlement that
                would
                adversely affect the Patent Rights in any material respect without
                the
                prior written consent of Hadasit.

            

    

     

    
      	4.3.2  
                	
              For
                any such legal action or defense, in the event that any Party is
                unable to
                initiate, prosecute, or defend such action solely in its own name,
                the
                other Party shall join such action voluntarily and shall execute
                all
                documents reasonably necessary for the Party to prosecute, defend
                and
                maintain such action. In connection with any such action, the Parties
                will
                cooperate and will provide each other with any information or assistance
                that either reasonably may request. Each Party shall keep the other
                informed of developments in any such action or proceeding, including,
                to
                the extent permissible by law, the status of any settlement negotiations
                and the terms of any offer related thereto.

            

    

     

    
      	4.3.3     	
              Any
                recovery obtained by Rosetta or Hadasit in any such action or proceeding
                shall be shared as follows in the following order of
                priority:

            

    

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	4.3.3.1  	
              the
                Party that initiated and prosecuted or maintained the defense of,
                the
                action, shall recoup all of its costs and expenses incurred in connection
                with the action, whether by settlement or
                otherwise;

            

    

     

    
      	4.3.3.2  	
              the
                other Party shall next recoup all of its costs and expenses incurred
                in
                connection with the action, whether by settlement or
                otherwise;

            

    

     

    
      	4.3.3.3  	
              if
                Hadasit initiated and prosecuted, or maintained the defense of, the
                action, the amount of any recovery remaining then shall be retained
                by
                Hadasit; and

            

    

     

    
      	4.3.3.4  	
              if
                Rosetta initiated and prosecuted, or maintained the defense of, the
                action, the amount of any recovery remaining shall be retained by
                Rosetta,
                except that Hadasit shall receive a portion equivalent to the royalties
                they would have received on such remaining amount if such amount
                were
                deemed Net Sales.

            

    

     

    
      	4.4     
                	
              Patent
                Term Extensions and Supplemental Protection Certificates.
                The Parties shall cooperate in obtaining patent term extensions or
                supplemental protection certificates or their equivalents in any
                country
                in the Territory where applicable and where desired by Rosetta. If
                elections with respect to obtaining such extension or supplemental
                protection certificates are to be made, Rosetta shall have the first
                right
                to make the election, in consultation with
                Hadasit.

            

    

     

    
      	5       
                	
              Advisory
                Costs of Research.

            

    

     

    
      	6       
                	
              Rosetta
                agrees to bear the advisory related to the performance of the experiments
                in relation to the Research Project, all as indicated in the Budget
                Schedule of each Trial. The Budget Schedule of the first two Trials
                specified in Protocol A1 and Protocol A2, is attached as Appendix
                B1 and
                Appendix B2.

            

    

     

    
      	7      
                	
              Confidentiality.

            

    

     

    
      	7.1    
               	
              Non-Disclosure
                and Non-Use Obligations

            

    

     

    
      	7.2   
                	
              All
                Proprietary Information disclosed by one Party to the other Party
                hereunder shall be maintained in confidence and shall not be disclosed
                to
                any Third Party or used for any purpose except as expressly permitted
                herein without the prior written consent of the Party that disclosed
                the
                Proprietary Information to the other Party. The foregoing non-disclosure
                and non-use obligations shall not apply to the extent that such
                Proprietary Information:

            

    

     

    
      	7.2.1 
                	
              is
                known by the receiving Party (including the HMO in the case of Hadasit)
                at
                the time of its receipt, and not through a prior disclosure by the
                disclosing Party, as documented by contemporaneous written
                records;

            

    

     

    
      	7.2.2 
                	
              is
                in the public domain or knowledge;

            

    

     

    
      	7.2.3 
                	
              is
                subsequently disclosed to a receiving Party (including the HMO in
                the case
                of Hadasit) by a Third Party who may lawfully do so and is not under
                an
                obligation of confidentiality to the disclosing Party;
                or

            

    

     

    
      	7.2.4  
               	
              is
                developed by the receiving Party (including the HMO in the case of
                Hadasit) independently of Proprietary Information received from the
                other
                Party, as documented by contemporaneous research and development
                records.

            

    

     

    
      	7.3   
                	
              Permitted
                Disclosure of Proprietary Information.

            

    

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	7.4  	
              Notwithstanding
                Section 7.1, a Party receiving Proprietary Information of another
                Party may disclose such Proprietary
                Information:

            

    

     

    
      	7.4.1  	
              to
                governmental or other regulatory agencies in order to obtain patents
                on
                Products, or to gain approval to conduct clinical trials or to market
                Products, but such disclosure may be only to the extent reasonably
                necessary to obtain such patents or
                authorizations;

            

    

     

    
      	7.4.2  	
              to
                its respective agents, consultants, Affiliates, sublicensees and/or
                other
                Third Parties for the research and development, manufacturing and/or
                marketing of Products (or for such parties to determine their interests
                in
                performing such activities) on the condition that such Third Parties
                agree
                to be bound by the confidentiality obligations contained in this
                Agreement; or

            

    

     

    
      	7.4.3  	
              if
                required to be disclosed by law or court order, provided that notice
                is
                promptly delivered to the disclosing Party in order to provide an
                opportunity to challenge or limit the disclosure obligations; provided,
                however,
                without limiting any of the foregoing, it is understood that either
                Party
                or its Affiliates may make disclosure of this Agreement and the terms
                hereof in any filings required by the SEC, may file this Agreement
                as an
                exhibit to any filing with the SEC and may distribute any such filing
                in
                the ordinary course of its business. However, to the maximum extent
                allowable by SEC rules and regulations, the Parties shall be obligated
                to
                maintain the confidentiality obligations set forth herein and shall
                redact
                any confidential information set forth in such
                filings.

            

    

     

    
      	7.5  	
              Publication.
                During the term of this Agreement, Hadasit and Rosetta Genomics each
                acknowledge the other Party's interest in publishing its results
                related
                to the Products to obtain recognition within the scientific community
                and
                to advance the state of scientific knowledge. Each Party also recognizes
                the mutual interest in obtaining valid patent protection and in protecting
                business interests and trade secret information. Consequently, either
                Party, its employees or consultants wishing to make a publication
                shall
                deliver to the other Party a copy of the proposed written publication
                or
                an outline of the proposed oral disclosure at least sixty (60) days
                prior
                to submission for publication or presentation. The other Party shall
                have
                the right (a) to propose modifications to the publication for scientific
                reason, patent reasons, trade secret reasons or business reasons
                or (b) to
                request a reasonable delay in publication or presentation in order
                to
                protect patentable information. If the other Party requests a delay,
                the
                publishing Party shall delay submission or presentation for a period
                of
                thirty (30) days to enable patent applications protecting each Party's
                rights in such information to be filed. Upon expiration of such thirty
                (30) days, the publishing Party shall be free to proceed with the
                publication or presentation, but may not include Proprietary Information
                of the other Party unless it is within an exception of Section 7.1.1
                through 7.1.4. If the other Party requests modifications to the
                publication, the publishing Party shall edit such publication to
                prevent
                disclosure of trade secret or Proprietary Information prior to submission
                of the publication or presentation.

            

    

     

    
      	7.6  	
              Notwithstanding
                anything to the contrary herein, Rosetta shall not use the names
                and/or
                logos of Hadasit and/or the HMO, and shall not disclose their involvement
                in the Research without both their prior written approval, all except
                for
                (a) references to scientific publications which are already in the
                public
                domain at the time of executing this Agreement and (b) applications
                for
                regulatory approvals to official authorities, including securities
                authorities, and (c) as requested by regulatory authorities as required
                by
                law or applicable regulation. Subject to the foregoing, Rosetta shall
                include appropriate acknowledgement and credit to Hadasit and/or
                the HMO
                and their employees in any publication relating to the Research in
                whatever media, including application(s) to official authorities
                or
                presentations to potential
                investors.

            

    

     

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	8   
               	
              Term
                and Termination.

            

    

     

    
      	8.1  	
              Each
                Trial may be terminated according to the termination section provided
                in
                each Protocol related to such Trial.

            

    

     

    
      	8.2  	
              The
                parties’ respective rights, obligations and duties under this Agreement
                which by their nature extend beyond the expiration or termination
                hereof,
                shall survive any expiration or termination of this
                Agreement.

            

    

     

     

    
      	9  
                	
              Claims,
                Liability And Insurance

            

    

     

    
      	9.1  	
              Rosetta
                shall bear sole responsibility and bear any payment and/or compensation
                and/or liability for any damage whatsoever caused to any person,
                directly
                or indirectly, as a result of the performance of any of the Trials
                or the
                Research Project. Provided however that Rosetta shall not be responsible
                or liable to pay any payments or compensation that are the result
                of a
                negligent act or willful misconduct of Hadasit, HMO or the Investigator.
                

            

    

     

    
      	9.2  	
              Rosetta
                shall indemnify and hold harmless, Hadasit, HMO, the Investigators
                and
                their employees and/or agents and/or officers and/or representatives
                (hereinafter: “The Beneficiaries”) from and against all claims, demands,
                causes of action and suits of whatsoever kind or nature based on
                damages
                claimed to have been caused as a result of the performance of any
                of the
                Trials and/or the Research Project and/or the Study and/or any procedures
                prescribed in any Trial Protocol and/or pertaining to the Research
                Project
                and/or the commercialization of the New Products (“the Loss”); provided,
                however, that: 

            

    

     

    
      	9.2.1  	
              The
                Loss was not caused as a result of negligence or willful misconduct
                of
                Hadasit, HMO and/or the Investigator and/or their employees and
                agents.

            

    

     

    
      	9.2.2  	
              The
                Loss was not caused as a result of Hadasit’s and/or HMO’s and/or the
                Investigator's failure to perform the relevant Trial in accordance
                with
                the Trial's Protocol. 

            

    

     

    
      	9.2.3  	
              Hadasit
                notified Rosetta, within 30 working days from the day Hadasit acquired
                such knowledge, of any claim, or injury relating to the Research
                Project.

            

    

     

    
      	9.2.4  	
              Rosetta
                shall pay all expenses associated with any proceedings taking place
                as a
                result of a complaint and/or legal claim submitted by any person
                in
                respect of the Loss. 

            

    

     

    
      	9.3  	
              Without
                derogating from its above liabilities, Rosetta shall cover the
                beneficiaries with an insurance policy, for an amount similar to
                the
                amount with which the State of Israel insures its physicians, against
                third party’s claims and/or
                demands.

            

    

     

    
      	9.4  	
              Neither
                party shall be liable (whether under contract, tort (including negligence)
                or otherwise) to the other party, or any third party for any indirect,
                incidental or consequential damages, including, without limitation,
                any
                loss or damage to business earnings, lost profits or goodwill and
                lost or
                damaged data or documentation, suffered by any person, arising from
                and/or
                related with and/or connected to this agreement even if such party
                is
                advised of the possibility of such
                damages.

            

    

     

    
      	10   
               	
              License
                

            

    

     

    Hadasit
      hereby grants to Rosetta the sole and exclusive worldwide license, even as
      to
HMO
      and
      Hadasit,
      under its part in the Research Results and the and Patent Rights, including
      the
      right to grant sublicenses on the terms set forth herein, to research, develop,
      use, import, offer for sale, market, commercialize, manufacture, distribute
      and
      sell the Products in the Territory.

     

    
      	11  
               	
              Royalties

            

    

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	11.1  	
              Subject
                to the terms and conditions of this Agreement, and in consideration
                of the
                rights granted by Hadasit hereinabove, Rosetta Genomics shall pay
                to
                Hadasit royalties in an amount equal to the following percentages
                of
                aggregate annual Net Sales of any Product in the Territory in each
                Royalty
                Year a royalty of [***]% ([***] percent) of Net Sales by or on behalf
                of
                Rosetta.

            

    

     

    
      	11.2  	
              In
                the event Rosetta is obligated, pursuant to agreements with third
                parties,
                to pay Hadasit and such other third parties royalties with respect
                to a
                Product, in a total amount exceeding [***]% ([***] percent) of Net
                Sales,
                then Rosetta shall be entitled to reduce the amount of royalties
                payable
                to Hadasit hereunder according to the following principals: (a) Rosetta
                shall calculate the total amount of royalties it is obligated to
                pay
                Rosetta and the other third parties (the "Total Royalties Amount");
                (b)
                Rosetta shall calculate the difference between the Total Royalties
                Amount
                and [***]% (the "Difference") ;(c) Rosetta shall calculate the relative
                share of Hadasit’s royalties from the Total Royalties Amount ("Hadasit
                Royalties Share") and (d) Rosetta shall be entitled to reduce Hadasit’s
                amount of Royalties by an amount equal to the product of Hadasit’s
                Royalties Share multiplied by the Difference. Provided, however,
                that in
                no event shall Hadasit’s Royalties be reduced to less than
                [***]%.

            

    

     

    For
      example: if Rosetta will be required to pay royalties with respect to a Product
      an amount of [***]%. Then The difference shall be [***]%, and Hadasit’s
      Royalties Share shall be, [***] and Rosetta shall have the right to reduce
      Hadasit’s royalties in an amount of [***]% and it will the owe Hadasit [***]% of
      royalties instead of [***]%.

     

    
      	11.3  	
              If
                a Product contains or is designed to detect both micro
                RNA sequences covered by a Valid Claim of the Patent Rights and micro
                RNA
                sequences that are not covered by a Valid Claim of the Patent Rights,
                then
                Net Sales of such Product shall be multiplied by the ratio of (x)
                the
                number of micro RNA sequences covered by a Valid Claim of the Patent
                Rights in a given Product to (y) the total number of micro RNA sequences
                included in such given Licensed Product to determine the portion
                of the
                value of the micro RNA sequences
                Product.

            

    

     

    
      	11.4  	
              Royalties
                on Net Sales, at the rates set forth above, shall accrue as of the
                date of
                the applicable First Commercial Sale in any country and shall continue
                and
                accrue on Net Sales (a) in a country where a Valid Claim included
                within
                the Patent Rights exists, until the later of the date of expiry of
                such
                patent in such country or the expiry of the period of [***] ([***])
                years
                commencing with the date of the First Commercial Sale (b) in any
                other
                country, until the expiry of the period of [***] ([***]) years commencing
                with First Commercial Sale in such
                country.

            

    

     

    
      	11.5  	
              Following
                the expiration of the last applicable period set forth in subsection
                (v)
                above, (a) Rosetta Genomics shall have the right under this Agreement
                to
                directly and indirectly (through sublicensees or otherwise) continue
                to
                manufacture, use, market, commercialize, distribute and sell and
                otherwise
                dispose of Products, throughout the world, without having to pay
                royalties
                or any other consideration to Hadasit and (b) Hadasit shall not grant
                any
                exclusive license to its part in the Research Results and/or the
                Patent
                Rights to any Third Party for the
                Field.

            

    

     

    
      	11.6  	
              Sublicense
                Income.
                Rosetta Genomics will pay Hadasit the following percentages of all
                Sublicense Income received from Sublicensees in each Calendar
                Quarter:

            

    

     

    
      	11.6.1  	
              [***]%
                of Sublicense Income if Sublicense was granted within [***] as of
                the
                Effective Date.

            

    

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	11.6.2  	
              [***]%
                of Sublicense Income if Sublicense was granted during the period
                between
                [***] as of the Effective Date.

            

    

     

    
      	11.6.3  	
              [***]%
                of Sublicense Income if Sublicense was granted during at any date
                after
                [***] as of the Effective Date.

            

    

     

    
      	11.7  
                	
              Reports;
                Payment of Royalty.
                Commencing with the first Calendar Quarter in which royalty or other
                payments are due, Rosetta shall furnish to Hadasit a quarterly written
                report for such Calendar Quarter (the “Quarterly Report”), each showing
                the sales of all Products subject to royalty or other payments sold
                by
                Rosetta Genomics and its Affiliates and all Sublicense Income received
                during the reporting period and the royalties or other payments payable
                under this Agreement. Quarterly Reports shall be due on the sixtieth
                (60th) day following the close of each Calendar Quarter. Royalties
                and
                other payments shown to have accrued by each Quarterly Report, if
                any,
                shall be due and payable on the date such Quarterly Report is due.
                Rosetta
                shall keep (and shall require its Affiliates to keep) complete and
                accurate records in sufficient detail to enable Net Sales and the
                royalties and other payments payable hereunder, to be determined,
                reconciled and verified. 

            

    

     

    
      	11.8   
               	
              Audits.

            

    

     

    
      	11.8.1  	
              Upon
                the written request of Hadasit and not more than once in each Calendar
                Year, Rosetta shall permit an independent certified public accounting
                firm
                of recognized standing in Israel, selected by Hadasit and reasonably
                acceptable to Rosetta, to have access during normal business hours
                at
                times mutually convenient to the Parties and upon reasonable notice
                to
                Rosetta to such of the records of Rosetta as may be reasonably necessary
                to verify the accuracy of the royalty and other payment reports hereunder
                for any Royalty Year, for a period of up to three (3) years from
                the
                completion of such Royalty Year. The accounting firm shall report
                to
                Hadasit only the results of the work performed as contemplated by
                this
                Section 11.7.1 and the details concerning any
                discrepancies.

            

    

     

    
      	11.8.2  	
              If
                such accounting firm concludes that additional royalties or other
                payments
                were owed during such Royalty Year , Rosetta shall pay the additional
                royalties or other payments (plus accrued interest at the LIBOR rate
                as in
                effect on the date that such payment was first due, plus one and
                [***]%)
                percent) within [***] of the date Hadasit delivers to Rosetta such
                accounting firm’s written report so concluding. In the event such
                accounting firm concludes that Rosetta overpaid amounts during such
                period, Hadasit shall reimburse Rosetta the amount of such overpayment
                within [***] of receipt of such accounting firm’s written report. The fees
                charged by such accounting firm shall be paid by
                Hadasit.

            

    

     

    
      	11.8.3  	
              Each
                Party reviewing information under this Section 11.7 shall treat all
                financial information subject to review under this Section 11.7 in
                accordance with the confidentiality provisions of this Agreement
                and shall
                request a confidentiality agreement to the same effect from any accounting
                firm reviewing information under this Section 11.7.
                

            

    

     

    
      	11.9  
                	
              Payments.
                All payments to be made under this Agreement shall be made in New
                Israeli
                Shekels and shall be paid by bank wire transfer or by automated
                clearinghouse (electronic funds transfer) in immediately available
                funds
                to such bank account designated in writing by each Party to the other
                from
                time to time. Bank charges necessary for making the bank transfer
                shall be
                incurred by the Party making the
                transfer.

            

    

     

    
      	11.10
                	
              Save
                for the circumstances set out in section 11.8.2 above, any amount
                payable
                hereunder which has not been made upon its due date of payment, shall
                bear
                interest from the date such payment is due until the date of its
                actual
                payment, at the maximum interest charged by Bank Leumi Le Israel
                B.M. for
                unapproved overdrafts. 

            

    

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	12  
                	
              Miscellaneous.

            

    

     

    
      	12.1  	
              Assignment.
                No party to this Agreement shall be entitled to transfer or assign
                its
                rights or obligations under this Agreement, unless with the prior
                written
                consent of the other party, which shall not be unreasonably withheld;
                provided however that an assignment resulting from merger and/or
                acquisition of either party shall not require the consent of the
                other
                party, in the event that the surviving entity is committed to such
                assigning party’s obligations hereunder. Notwithstanding the
                aforementioned, THM shall be entitled to assign it’s rights and
                obligations hereunder to any legal entity which was established in
                connection with or for the benefit of the
                Hospital.

            

    

     

    
      	12.2  	
              No
                Agency. It is hereby expressly declared and agreed that this Agreement
                in
                no way establishes any principal-agent, employer-employee, or partnership
                relations between the parties. Nothing in this Agreement shall be
                construed as granting either party the power or authority to act
                for or on
                behalf of the other party, to create any undertakings on behalf of
                the
                other party, or to bind or commit the other party in respect to any
                such
                undertakings, except as set forth herein or as otherwise agreed to
                in
                writing between the parties prior to such
                act.

            

    

     

    
      	12.3  	
              Governing
                Law; Venue. This Agreement shall be governed by and construed in
                accordance with the laws of the State of Israel. The competent courts
                of
                Jerusalem shall have the exclusive jurisdiction to adjudicate on
                any
                disputes arising hereunder.

            

    

     

    
      	12.4  	
              Entire
                Agreement. This Agreement, including all exhibits attached hereto,
                constitutes the entire understanding of the parties and supersedes
                all
                oral or written representations, agreements and understandings between
                the
                parties with respect to the subject matter hereof, all of which shall
                become, upon signature of this Agreement,
                void.

            

    

     

    
      	12.5  	
              Amendments;
                Interpretation. No modification or amendment of this Agreement may
                be made
                except in a written instrument duly signed by all parties. The headings
                in
                this Agreement are inserted for convenience of reference only and
                shall
                not affect its interpretation. The preamble and annexes to this Agreement
                form an integral part of this Agreement. In the event of any conflict
                between the terms of this Agreement and the terms of any Protocol
                and/or
                Budget Schedule, the terms of this Agreement shall prevail.
                

            

    

     

    
      	12.6  	
              Severability.
                If any non-material condition, term or covenant of this Agreement
                shall at
                any time be held to be void, invalid or unenforceable such condition,
                covenant or term shall be construed as severable and such holding
                shall
                attach only to such condition, covenant or term and shall not in
                any way
                affect or render void, invalid or unenforceable any other condition,
                covenant or term of this Agreement, and this Agreement shall be carried
                out as if such void, invalid or unenforceable term were not embodied
                herein.

            

    

     

    
      	12.7  	
              Waivers.
                The failure at any time of either Party to enforce any of the terms
                or
                conditions or any right or to exercise any option of this Agreement
                will
                in no way be construed to be a waiver of such terms, conditions,
                rights or
                options, or in any way to affect the validity of this Agreement.
                A waiver
                by a party of any of its rights under this Agreement shall not be
                effective unless made by a written instrument duly signed by such
                party,
                and shall not be deemed a waiver of any other right
                hereunder.

            

    

     

    
      	12.8  	
              Notices.
                Any notice sent by one party to the others to the addresses set forth
                below shall be considered as having reached its destination, if it
                was
                delivered by hand, at the time of its delivery; if it was sent by
                registered mail, within 96 hours from the time it was so dispatched;
                and
                if it was sent by facsimile, within 48 hours from the receipt of
                the
                confirmation of proper transmission of the
                notice.

            

    

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

      
        	
                If
                  to Rosetta:

                 

              	
                10
                  Plaut Street, Rehovot, 76706, Israel

                Fax:
                  972-8-9484766

                Attention:
                  Business Development

                With
                  a copy to General Counsel 

              
	
                If
                  to Hadasit:

                 

              	
                POB
                  12000, Jerusalem 91120, Israel

                Fax:
                  +972-2- 6437712

                Attention:
                  VP Finance and Contracts

                With
                  a copy to Legal Counsel 

              

      

    

    

     

    
      	13   
               	
              IN
                WITNESS WHEREOF, the parties have set their signatures hereunto as
                of the
                date first above written.

            

    

     

    
      	
              ROSETTA
                GENOMICS LTD.

               

              By:

               

              Name:

               

              Title:

            	
              _____________________________________

               

              By:

               

              Name:

               

              Title:

            

    

    

     

     

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.EXCLUSIVE
      LICENSE AGREEMENT

    

    

    

    BETWEEN

    

    THE
      JOHNS HOPKINS UNIVERSITY

    

    &

    

    ROSETTA
      GENOMICS LTD

    

    

    JHU
      Ref: # - 4950

     

     

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
         

        
          

        

      

      
         

      

    

     

    LICENSE
      AGREEMENT

    

    THIS
      LICENSE AGREEMENT (the “Agreement”) is entered into by and between THE JOHNS
      HOPKINS UNIVERSITY, a Maryland corporation having an address at 3400 N. Charles
      Street, Baltimore, Maryland, 21218-2695 (“JHU”) and Rosetta Genomics Ltd., an
      Israeli corporation having an address at 10 Plaut St. Rehovot (“Company”), with
      respect to the following:

    

    RECITALS

    

    WHEREAS,
      as a center for research and education, JHU is interested in licensing PATENT
      RIGHTS (hereinafter defined) in a manner that will benefit the public by
      facilitating the distribution of useful products and the utilization of new
      processes, but is without capacity to commercially develop, manufacture, and
      distribute any such products or processes; and

    

    WHEREAS,
      a valuable invention(s) entitled "Discovery of Human miRNAs and Their Evaluation
      with a Dicer KO" (JHU Ref. 4950) was developed during the course of research
      conducted at JHU by Drs. Jordan Cummins, Victor Velculescu, Kenneth Kinzler
      and
      Bert Vogelstein (all hereinafter, "Inventors"). Dr. Vogelstein is an employee
      of
      Howard Hughes Medical Institute (hereinafter “HHMI”); and

    

    WHEREAS,
      JHU has acquired through assignment all rights, title and interest, with the
      exception of certain retained rights by the United States Government and HHMI,
      in its interest in said valuable inventions; and

    

    WHEREAS,
      Company desires to obtain certain exclusive rights in such inventions as herein
      provided to research, commercially develop, manufacture, produce, commercialize,
      use, import, sell and distribute products and processes based upon or embodying
      said valuable inventions throughout the world;

    

    NOW
      THEREFORE, in consideration of the premises and the mutual promises and
      covenants contained in this Agreement, and for other good and valuable
      consideration, the receipt and sufficiency of which is hereby acknowledged,
      the
      parties hereto agree as follows:

    

    ARTICLE
      1

    DEFINITIONS

    

    All
      references to particular Exhibits, Articles or Paragraphs shall mean the
      Exhibits to, and Paragraphs and Articles of, this Agreement, unless otherwise
      specified. For the purposes of this Agreement and the Exhibits hereto, the
      following words and phrases shall have the following meanings:

    

    1.1 "AFFILIATED
      COMPANY" as
      used
      herein in either singular or plural shall
      mean any corporation, company, partnership, joint venture or other entity,
      which
      controls, is controlled by or is under common control with Company. For purposes
      of this Paragraph 1.1, control shall mean the ability to direct the activities
      of the relevant entity, and shall include without limitation direct or indirect
      (i) ownership of at least fifty percent (50%) of the outstanding voting stock
      or
      other ownership interest of the other organization or entity, or (ii) possession
      of the power to elect or appoint at least fifty percent (50%) of the members
      of
      the governing body of the organization or other entity. 

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          1

        
          

        

      

      
         

      

    

    1.2 “EFFECTIVE
      DATE"
      of this
      License Agreement shall mean the date the last party hereto has executed this
      Agreement. 

    

    1.3 "EXCLUSIVE
      LICENSE"
      shall
      mean the exclusive grant by JHU to Company of its entire right and interest
      in
      the PATENT RIGHTS subject to rights retained by the United States Government,
      if
      any, in accordance with the Bayh-Dole Act of 1980 (established by P.L. 96-517
      and amended by P.L. 98-620, codified at 35 USC § 200 et. seq. and implemented
      according to 37 CFR Part 401), and subject to the retained right of JHU and
      HHMI
      to make, have made, provide and use for their and The Johns Hopkins Health
      Systems' purposes LICENSED PRODUCT(S), including the ability to distribute
      any
      biological material disclosed and/or claimed in PATENT RIGHTS for non-commercial
      and nonprofit academic research use to non-commercial entities as is customary
      in the scientific community.  

    

    1.4 "LICENSED
      PRODUCT(S)"
      as used
      herein in either singular or plural shall mean any process or method, material,
      compositions, drug, or other product or service, the manufacture, use, provision
      or sale of which would constitute, but for the license granted to Company
      pursuant to this Agreement, an infringement of a VALID CLAIM of PATENT RIGHTS
      relating to a nucleic acid sequence (infringement shall include, but is not
      limited to, direct, contributory, or inducement to infringe). 

    

    1.5 "NET
      SALES"
      shall
      mean gross sales revenues and fees billed by Company and AFFILIATED COMPANY
      from
      the sale of LICENSED PRODUCT(S) less (i) customary trade, quantity, or cash
      discounts to the extent actually allowed and taken; (ii) amounts repaid or
      credited by reason of price adjustment, recall rejection or return; and (iii)
      to
      the extent separately stated on purchase orders, invoices, or other documents
      of
      sale, any taxes or other governmental charges levied on the production, sale,
      transportation, delivery, or use of a LICENSED PRODUCTS, (iv) rebates and
      chargebacks, including without limitation rebates to governmental or managed
      care organizations; and (v) amounts received in respect of packing, freight,
      shipping and insurance charges applicable to the LICENSED PRODUCTS sold.

    

    If
      a
      LICENSED PRODUCT is sold or provided as part of a combination,
      then:

    

    (i) In
      the
      event that Company or an AFFILIATED COMPANY sells or provides for any
      non-therapeutic purpose a LICENSED PRODUCT, which LICENSED PRODUCT (i) is a
      nucleic acid sequence that is a LICENSED PRODUCT or (ii) is designed to detect
      or modulate a nucleic acid sequence that is a LICENSED PRODUCT, in combination
      with another nucleic acid sequence which is not a LICENSED PRODUCT or is
      designed to detect or modulate another nucleic acid sequence which is not a
      LICENSED PRODUCT (“Other Sequence”), the NET SALES for purposes of royalty
      payments shall be calculated by [***]. However, in no event shall any such
      credit be applied to reduce the amount payable hereunder in respect of any
      such
      LICENSED PRODUCT to less than [***] percent ([***]%) of that amount which would
      otherwise have been paid or payable to JHU in respect thereof in accordance
      with
      the terms of the Agreement and prior to any credit for Other Sequences available
      under this paragraph;

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          2

        
          

        

      

      
         

      

    

    (ii) In
      the
      event that Company or an AFFILIATED COMPANY sells, in a particular country
      during a particular year, a LICENSED PRODUCT for therapeutic purposes in
      combination with a therapeutic product which is not a LICENSED PRODUCT and
      when
      combined with a LICENSED PRODUCT specifically enhances the activity and/or
      efficacy of the LICENSED PRODUCT and/or acts synergistically with the LICENSED
      PRODUCT (“Other Items”), the NET SALES for purposes of royalty payments shall be
      calculated as follows:

    

    (a)
       If
      all
      LICENSED PRODUCTS and Other Items contained in the combination are available
      separately in the particular country during such year, the NET SALES for
      purposes of royalty payments will be calculated by [***] is the [***] in the
      [***] in the [***] is the s[***] in the [***] in the [***]. 

    

    (b) If
      the
      combination includes Other Items which are not sold separately in the particular
      country during such year (but all LICENSED PRODUCTS contained in the combination
      are available separately in the particular country during such year), the NET
      SALES for purposes of royalty payments will be calculated by [***].

    

    (c) If
      the
      LICENSED PRODUCTS contained in the combination are not sold separately, the
      parties agree to negotiate a reduction in the royalty rate to reflect the fair
      value that the LICENSED PRODUCT attributed to the overall product sold, but
      in
      no event shall the royalty rates be reduced by greater than [***] percent
      ([***]%). 

    

    The
      term
      "Other Items" does not include solvents, diluents, carriers, excipients, buffers
      or the like used in formulating a product; however, 

    

    (iii) In
      no
      event shall Company apply the credit in both paragraphs (i) and (ii) above
      to
      the same sale of a LICENSED PRODUCT.

    

    1.6 "PATENT
      RIGHTS"
      shall
      mean the (i) U.S. patent application Serial No. 60/ , filed on ______________,
      and assigned to JHU entitled “Discovery of Human miRNAs and Their Evaluation
      with a Dicer KO” and the invention disclosed and claimed therein, (ii) all
      continuations, divisions, and reissues based thereon, (iii) claims of
      continuation-in-part applications directed to subject matter specifically
      described in (i), (iv) any corresponding foreign patent applications, and (v)
      any U.S. patents, or foreign patents issuing, granted or registered on any
      of
      (i) through (iv).

     

    1.7 “ROYALTY
      TERM”
shall
      mean, with respect to each LICENSED PRODUCT in each country, the period during
      which there is a VALID CLAIM. 

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          3

        
          

        

      

      
         

      

    

    1.8 “SUBLICENSEE(S)”
      as
      used
      herein in either singular or plural shall mean any person or entity other than
      an AFFILIATED COMPANY to which Company has granted a sublicense to some or
      all
      of the rights granted to COMPANY under this Agreement.

    

    1.9 “VALID
      CLAIM” shall
      mean either: (a) a claim of an issued and unexpired patent included within
      the
      PATENT RIGHTS which has not been revoked or held unenforceable, unpatentable
      or
      invalid by a decision of a court or other governmental agency of competent
      jurisdiction, unappealable or unappealed within the time allowed for appeal,
      and
      which has not been disclaimed, denied or admitted to be invalid or unenforceable
      through reexamination, reissue, disclaimer or otherwise; or (b) a claim of
      a
      pending patent application included within the PATENT RIGHTS, which claim has
      not been abandoned or finally disallowed without the possibility of appeal
      or
      refiling of such application, and has been pending for less than six (6) years
      from the date such claim was filed in a first national filing non-provisional
      patent application in the country of interest and has not been (i) canceled,
      (ii) withdrawn from consideration, (iii) finally determined to be unallowable
      by
      the applicable governmental authority (and from which no appeal is or can be
      taken), or (iv) abandoned. 

    

    ARTICLE
      2

    LICENSE
      GRANT

    

    2.1 Grant.
      Subject
      to the terms and conditions of this Agreement, JHU hereby grants to Company
      an
      EXCLUSIVE LICENSE to make, have made, manufacture, provide, use, import,
      commercialize, distribute, offer for sale and sell the LICENSED PRODUCT(S)
      in
      the United States and worldwide under the PATENT RIGHTS. This
      Grant shall apply to the Company and any AFFILIATED COMPANY, except that any
      AFFILIATED COMPANY shall not have the right to grant a sublicense to others
      as
      set forth in Paragraph 2.2 below. If any AFFILIATED COMPANY exercises rights
      under this Agreement, such AFFILIATED COMPANY shall be bound by all terms and
      conditions of this Agreement, including but not limited to indemnity and
      insurance provisions and royalty payments, which shall apply to the exercise
      of
      the rights, to the same extent as would apply had this Agreement been directly
      between JHU and the AFFILIATED COMPANY. In addition, Company shall remain fully
      liable to JHU for all acts and obligations of AFFILIATED COMPANY such that
      acts
      of the AFFILIATED COMPANY shall be considered acts of the Company. 

    

    2.2 Sublicense.
      Company
      may sublicense to others under this Agreement subject to the terms and
      conditions of this Paragraph 2.2. As a condition to its validity and
      enforceability, each sublicense agreement shall: (a) incorporate by reference
      the terms and conditions of this Agreement, (b) be consistent with the terms,
      conditions and limitations of this Agreement, (c) name JHU and HHMI as an
      intended third party beneficiaries of the obligations of SUBLICENSEE without
      imposition of obligation or liability on the part of JHU, HHMI or their
      Inventors to the SUBLICENSEE, and (d) specifically incorporate Paragraphs 6.2
      “Representations by JHU”, 7.1 “Indemnification”, 10.1 “Use of Name”, 10.4
“Product Liability” into the body of the sublicense agreement, and cause the
      terms used in therein to have the same meaning as in this Agreement. Company
      shall promptly provide to JHU each sublicense agreement, executed by both
      Company and SUBLICENSEE. To the extent that any terms, conditions or limitations
      of any sublicense agreement are inconsistent with this Agreement, those terms,
      conditions and limitations are null and void against JHU and HHMI.

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          4

        
          

        

      

      
         

      

    

    2.3
       Government
      Rights. The
      United States Government may have acquired a nonexclusive, nontransferable,
      irrevocable, paid-up license to practice or have practiced for or on behalf
      of
      the United States the inventions described in PATENT RIGHTS throughout the
      world. The rights granted herein are additionally subject to: (i) the
      requirement that any LICENSED PRODUCT(S) produced for use or sale within the
      United States shall be substantially manufactured in the United States (unless
      a
      waiver under 35 USC § 204 or equivalent is granted by the appropriate United
      States government agency), (ii) the right of the United States government to
      require JHU, or its licensees, including Company, to grant sublicenses to
      responsible applicants on reasonable terms when necessary to fulfill health
      or
      safety needs, and, (iii) other rights acquired by the United States government
      under the laws and regulations applicable to the grant/contract award under
      which the inventions were made. 

    

    ARTICLE
      3

    FEES,
      ROYALTIES, & PAYMENTS

    

    3.1 License
      Fee. Company
      shall pay to JHU within [***] of the EFFECTIVE DATE of this Agreement a license
      fee as set forth in Exhibit
      A.
      JHU
      will not submit an invoice for the license fee, which is nonrefundable and
      shall
      not be credited against royalties or other fees. 

    

    3.2
       Minimum
      Annual Royalties. Company
      shall pay to JHU minimum annual royalties as set forth in Exhibit
      A.
      Such
      minimum annual royalties shall be due, without invoice from JHU, within [***]
      of
      each anniversary of the EFFECTIVE DATE beginning with the first anniversary
      until the expiration of the ROYALTY TERM. Running royalties accrued under
      Paragraph 3.3 and paid to JHU during the one year period preceding an
      anniversary of the EFFECTIVE DATE shall be credited against the minimum annual
      royalties due on that anniversary date.

    

    3.3 Running
      Royalties. Company
      shall pay to JHU a running royalty as set forth in Exhibit
      A,
      for
      each LICENSED PRODUCT(S) sold or provided by Company and AFFILIATED COMPANIES,
      based on NET SALES during the ROYALTY TERM. Such payments shall be made
      quarterly. 

    

    The
      royalties, and other amounts payable by Company to JHU pursuant to this
      Agreement (“Payments”) shall be reduced [***] applicable to such Payments, and
      are to be remitted [***], such that the actual maximum payment by the Company
      hereunder shall not exceed the amounts or the rates provided herein. JHU shall
      be responsible for paying [***]. If applicable laws require that [***], the
      Company shall (a) [***] amount, (b) [***], and (c) [***] therefor, and such
      other information as may be necessary [***]. 

    

    In
      the
      event any LICENSED PRODUCT shall be sold by Company to an AFFILIATED COMPANY,
      by
      an AFFILIATED COMPANY to Company, or among AFFILIATED COMPANIES for subsequent
      resale to an unaffiliated third party, then the royalty due hereunder shall
      be
      based upon [***] unaffiliated third party purchaser of such LICENSED
      PRODUCT.

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          5

        
          

        

      

      
         

      

    

    In
      the
      event that non-monetary consideration is received by Company or AFFILIATED
      COMPANIES from the sale of LICENSED PRODUCT in an arms-length transaction,
      [***]
      for such sale.

    

    In
      the
      event that (i) Company
      or
      an AFFILIATED COMPANY is required to make payment of royalties to non-AFFILIATES
      in order to obtain a license or similar rights from such non-AFFILIATES, in
      the
      absence of which license or rights Company could not make, use or sell a
      LICENSED PRODUCT and which rights are (in
      the
      reasonable opinion of Company’s counsel)
      necessary in order for Company to make, use or sell
      LICENSED
      PRODUCTS, and (ii) the total royalty burden on Company required to make, use
      or
      sell a LICENSED PRODUCT exceeds [***] percent ([***]%), then the royalty rate
      to
      be applied hereunder shall be calculated by the following:

    

    Adjusted
      JHU Royalty = [***]% x [***]

    

    [***].
      However, in no event shall any such adjustment reduce the royalty rate hereunder
      in respect of any such Licensed Product to less than [***] percent
      ([***]%).

    

    3.4 Royalty
      Floor. In
      no
      event shall any credits or royalty adjustments be applied to reduce the amount
      payable to JHU in respect of any LICENSED PRODUCT to less than [***] percent
      ([***]%) of NET SALES, where the definition of NET SALES for the purposes of
      this Paragraph 3.4 is limited to the first paragraph of Paragraph
      1.5.

    

    3.5 Sublicense
      Consideration.
      Company
      shall pay to JHU a percentage of consideration received for sublicenses under
      this Agreement as set forth in Exhibit
      A.
      This
      sublicense consideration shall be due, without the need for invoice from JHU,
      within [***] of the effective date of each sublicense agreement (running
      royalties shall be paid quarterly). Such consideration shall mean consideration
      of any kind received by the Company or AFFILIATED COMPANIES from a
      SUBLICENSEE(S) for the grant of a sublicense under this Agreement, such as
      upfront fees, milestone fees, running royalties on LICENSED PRODUCTS and
      including any premium paid by the SUBLICENSEE(S) over Fair Market Value for
      stock of the Company or an AFFILIATED COMPANY in consideration for such
      sublicense. However, not included in such sublicense consideration are amounts
      paid to the Company or an AFFILIATED COMPANY by the SUBLICENSEE(S) for [***],
      each pursuant to a [***], or amounts paid by a SUBLICENSEE to [***]. The term
      "Fair Market Value" shall mean the average price that the stock in question
      is
      publicly trading at for twenty (20) trading days prior to the announcement
      of
      its purchase by the SUBLICENSEE(S) or if the stock is not publicly traded,
      the
      value of such stock as determined by the higher of (i) the most recent private
      financing through a financial investor (an entity whose sole interest in the
      Company or AFFILIATED COMPANY is financial) of the Company or AFFILIATED COMPANY
      that issued the shares, and at Company’s option and expense (ii) the independent
      valuation by an accounting or other financial services firm mutually acceptable
      to JHU and Company. 

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          6

        
          

        

      

      
         

      

    

    3.6 Patent
      Reimbursement. In
      accordance with Paragraph 4.1 below, Company will reimburse JHU, within thirty
      (30) days of the receipt of an invoice from JHU, for all costs associated with
      the preparation, filing, maintenance, and prosecution of PATENT RIGHTS incurred
      by JHU subsequent to the EFFECTIVE DATE of this Agreement. 

    

    3.7 Form
      of Payment. All
      payments under this Agreement shall be made in U.S. Dollars. Checks are to
      be
      made payable to “The Johns Hopkins University". Wire transfers may be made
      through:

    

    Bank
      of
      America

    NY,
      NY

    

    Johns
      Hopkins University Central Lockbox

    Transit/Routing/ABA
      number: 026009593

    SWIFT
      code: BOFAUS3N

    CHIPS
      ABA
      number: None

    Account
      Number: 003936830516

    Type
      of
      account: Depository

    Reference:
      JHU Tech Transfer

    (JHU
      REF.
      4950)

    Attn:
      Financial Manager

    

    Company
      shall be responsible for any and all costs associated with wire transfers.
      

    

    3.8 Late
      Payments.
      In the
      event that any payment due hereunder is not made when due, the payment shall
      accrue interest beginning on the [***] following the due date thereof,
      calculated at the annual rate of the sum of (a) [***] percent ([***]%) plus
      (b)
      the prime interest rate quoted by The Wall Street Journal on the date said
      payment is due, the interest being compounded on the last day of each calendar
      quarter, provided however, that in no event shall said annual interest rate
      exceed the maximum legal interest rate for corporations. Each such payment
      when
      made shall be accompanied by all interest so accrued. Said interest and the
      payment and acceptance thereof shall not negate or waive the right of JHU to
      seek any other remedy, legal or equitable, to which it may be entitled because
      of the delinquency of any payment including, but not limited to termination
      of
      this Agreement as set forth in Paragraph 9.2.

    

    3.9 Invoicing
      and Receipts.
      Company
      may at their option and expense provide along with any payment to JHU a receipt
      for such payment along with a self-addressed, postage paid envelope. If such
      payment is correct and processed by JHU, JHU shall promptly sign and return
      such
      receipt to Company. 

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          7

        
          

        

      

      
         

      

    

    ARTICLE
      4

    PATENT
      PROSECUTION, MAINTENANCE, & INFRINGEMENT

    

    4.1 Prosecution
      & Maintenance.
      JHU, at
      Company's expense (except as provided below), and following reasonable
      consultation with Company (as provided below), shall file, prosecute and
      maintain all patents and patent applications specified under PATENT RIGHTS
      and,
      subject to the terms and conditions of this Agreement, Company shall be licensed
      thereunder. Title to all such patents and patent applications shall reside
      in
      JHU. JHU shall have full and complete control over all patent matters in
      connection therewith under the PATENT RIGHTS, provided however, that JHU shall
      (a) cause its patent counsel to timely copy Company on all official actions
      and
      written correspondence with any patent office, and (b) allow Company an
      opportunity to comment and advise JHU. JHU shall consider and reasonably
      incorporate all comments and advice provided by Company. By concurrent written
      notification to JHU and its patent counsel at least thirty (30) days in advance
      (or later at JHU’s discretion) of any filing or response deadline, or fee due
      date, Company may elect not to have a patent application filed in any particular
      country or not to pay expenses associated with prosecuting or maintaining any
      patent application or patent, provided that Company pays for all costs incurred
      up to the date of JHU’s receipt of such notification. Failure to provide such
      notification can be considered by JHU to be Company’s authorization to proceed
      with the relevant filing at Company’s expense. Upon such notification, JHU may
      file, prosecute, and/or maintain such patent applications or patent at its
      own
      expense and for its own benefit, and any rights or license granted hereunder
      held by Company, AFFILIATED COMPANIES or SUBLICENSEE(S) relating to the PATENT
      RIGHTS which comprise the subject of such patent applications or patent and/or
      apply to the particular country, shall terminate.

    

    4.2 Notification.  Each
      party will notify the other promptly in writing when any infringement by a
      third
      party is uncovered or suspected. 

    

    4.3 Infringement.
      Company
      shall have the first right, but not the obligation, to enforce any patent within
      PATENT RIGHTS against any infringement or alleged infringement thereof, and
      shall at all times keep JHU informed as to the status thereof. Before Company
      commences an action with respect to any infringement of such patents, Company
      shall give careful consideration to the views of JHU and to potential effects
      on
      the public interest in making its decision whether or not to sue. Thereafter,
      Company may, at its own expense, institute suit against any such infringer
      or
      alleged infringer and control and defend such suit in a manner consistent with
      the terms and provisions hereof and recover any damages, awards or settlements
      resulting therefrom, subject to Paragraph 4.5. However, no settlement, consent
      judgment or other voluntary final disposition of the suit may be entered into
      without the prior written consent of JHU, which consent shall not be
      unreasonably withheld. This right to sue for infringement shall not be used
      in
      an arbitrary or capricious manner. JHU shall reasonably cooperate in any such
      litigation at Company's expense, including the joining of JHU and its AFFILIATED
      COMPANIES as a party to such action, as may be required by the law of the
      particular forum where enforcement is being sought. 

    

    If
      Company elects not to enforce any patent within the PATENT RIGHTS, then it
      shall
      so notify JHU in writing within ninety (90) days of receiving notice that an
      infringement exists, and JHU may, in its sole judgment and at its own expense,
      take steps to enforce any patent and control, settle, and defend such suit
      in a
      manner consistent with the terms and provisions hereof, and recover, for its
      own
      account, any damages, awards or settlements resulting therefrom.

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          8

        
          

        

      

      
         

      

    

    4.4 Patent
      Invalidity Suit.
      If a
      declaratory judgment action is brought naming Company as a defendant and
      alleging invalidity of any of the PATENT RIGHTS, JHU may elect to take over
      the
      sole defense of the action at its own expense. Company shall cooperate fully
      with JHU in connection with any such action. 

    

    4.5 Recovery.
      Any
      recovery by Company under Paragraph 4.3 shall be deemed to reflect loss of
      commercial sales, and Company shall pay to JHU [***] percent ([***]%) of the
      recovery net of all reasonable costs and expenses associated with each suit
      or
      settlement. If the cost and expenses exceed the recovery, then [***] of the
      excess shall be credited against royalties payable by Company to JHU hereunder
      in connection with sales of LICENSED PRODUCT covered in the PATENT RIGHTS which
      are the subject of the infringement suit, in the country of such legal
      proceedings, provided, however, that any such credit under this Paragraph shall
      not exceed [***] percent ([***]%) of the royalties otherwise payable to JHU
      with
      regard to sales in the country of such action in any one calendar year, with
      any
      excess credit being carried forward to future calendar years.

    

    ARTICLE
      5

    OBLIGATIONS
      OF THE PARTIES

    

    5.1 Reports.
      Company
      shall provide to JHU the following written reports according to the following
      schedules, all of which shall be treated as Confidential Information of the
      Company.

    

    (a)
      Company shall provide quarterly Royalty Reports, substantially in the format
      of
Exhibit
      B
      and due
      within [***] of the end of each calendar quarter following the first commercial
      sale of a LICENSED PRODUCT. Royalty Reports shall disclose the amount of
      LICENSED PRODUCT(S) sold, the total NET SALES of such LICENSED PRODUCT(S),
      and
      the running royalties due to JHU as a result of NET SALES by Company, AFFILIATED
      COMPANIES and SUBLICENSEE(S) thereof. Payment of any such royalties due shall
      accompany such Royalty Reports. 

    

    (b)
      Until
      Company, an AFFILIATED COMPANY or a SUBLICENSEE(S) has achieved a first
      commercial sale of a LICENSED PRODUCT or LICENSED SERVICE, or
      received FDA market approval, Company shall provide semiannual Diligence
      Reports, due within [***] of the end of every June and December following the
      EFFECTIVE DATE of this Agreement. These Diligence Reports shall describe
      Company's, AFFILIATED COMPANIES or any SUBLICENSEE(S)'s technical efforts
      towards meeting its obligations under the terms of this Agreement. 

    

    (c)
      Company shall provide Annual Reports within [***] of the end of every December
      following the EFFECTIVE DATE of this Agreement. Annual Reports shall
      include:

     

    (i)
      evidence of insurance as required under Paragraph 10.4, or, a statement of
      why
      such insurance is not currently required, and

    (ii)
      identification of all AFFILIATED COMPANIES which have exercised rights pursuant
      to Paragraph 2.1, or, a statement that no AFFILIATED COMPANY has exercised
      such
      rights, and 

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          9

        
          

        

      

      
         

      

    

    (iii)
      notice of all FDA approvals of any LICENSED PRODUCT(S) obtained by COMPANY,
      AFFILIATED COMPANY or SUBLICENSEE, the patent(s) or patent application(s)
      licensed under this Agreement upon which such product or service is based,
      and
      the commercial name of such product or service, or, in the alternative, a
      statement that no FDA approvals have been obtained. 

    

    5.2 Records.
      Company
      shall make and retain, for a period of three (3) years following the period
      of
      each report required by Paragraph 5.1, true and accurate records, files and
      books of account containing all the data reasonably required for the full
      computation and verification of sales and other information required in
      Paragraph 5.1. Such books and records shall be in accordance with generally
      accepted accounting principles consistently applied. Company shall permit the
      inspection and copying of such records, files and books of account by JHU or
      its
      agents during regular business hours upon ten (10) business days' written notice
      to Company. Such inspection shall not be made more than once each calendar
      year.
      All costs of such inspection and copying shall be borne by JHU, provided that
      if
      any such inspection shall reveal that an underpayment has been made to JHU
      in
      the amount equal to [***] percent ([***]%) or more of such payment in any
      calendar year, such costs shall be borne by Company. As a condition to entering
      into any such agreement, Company shall include in any agreement with its
      AFFILIATED COMPANIES or its SUBLICENSEE(S) which permits such party to make,
      use, sell, provide or import the LICENSED PRODUCT(S), a provision requiring
      such
      party to retain records of sales of LICENSED PRODUCT(S) and other information
      as
      required in Paragraph 5.1 and permit JHU to inspect such records as required
      by
      this Paragraph. 

    

    5.3 Diligent
      Efforts. Company
      shall exercise commercially reasonable diligent efforts to develop and to
      introduce the LICENSED PRODUCT(S) into the commercial market as soon as
      practicable, consistent with sound and reasonable business practice and
      judgment; thereafter, until the expiration or termination of this Agreement,
      Company shall endeavor to keep LICENSED PRODUCT(S) reasonably available to
      the
      public. Company shall also exercise reasonable efforts to develop LICENSED
      PRODUCT(S) suitable for different indications within the LICENSED FIELD, so
      that
      the PATENT RIGHTS can be commercialized as broadly and as speedily as sound
      and
      reasonable business practice and judgment would deem practicable.

    

    5.3(a) No
      Warranty.
      Subject
      to Company’s obligations set forth in Section 5.3, for the removal of doubt,
      nothing contained in this Agreement shall be construed as a warranty by the
      Company that any development to be carried out as aforesaid will actually
      achieve its aims or any other results, and the Company makes no warranties
      whatsoever as to any results to be achieved in consequence of the carrying
      out
      of any such development. FURTHERMORE,
      THE COMPANY DOES NOT ASSUME ANY DUTY OR OBLIGATION TO SUCCEED IN ANY TRIAL,
      REGISTRATION OR COMMERCIALIZATION OF THE LICENSED PRODUCT(S), NOR DOES THE
      COMPANY MAKE ANY REPRESENTATION TO THE EFFECT THAT THE COMMERCIALIZATION OF
      THE
      LICENSED PRODUCT(S) WILL SUCCEED, OR THAT IT WILL BE ABLE TO SELL THE LICENSED
      PRODUCT(S) IN ANY QUANTITY. 

     

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          10

        
          

        

      

      
         

      

    

    5.4 Other
      Products. After
      (i)
      clinical evidence of efficacy or evidence of efficacy in an accepted preclinical
      animal model, and (ii) a commercially reasonable offer from a potential
      SUBLICENSEE, is provided in writing by JHU or by another party, to Company
      on or
      after three (3) years from the EFFECTIVE DATE, demonstrating the practicality
      of
      a particular market or use within the LICENSED FIELD which is not being
      developed or commercialized by Company, Company shall either provide JHU with
      a
      reasonable development plan and start development or attempt to reasonably
      sublicense the particular market or use to a third party. If within six (6)
      months of such notification by JHU, Company has not initiated such development
      efforts or have sublicensed, or then be working diligently to sublicense, that
      particular market or use, JHU may terminate Company’s license for such
      particular market or use. This Paragraph 5.4 shall not be applicable if Company
      reasonably demonstrates to JHU that commercializing such LICENSED PRODUCT(S)
      or
      LICENSED SERVICE(S) or granting such a sublicense in said market or use would
      have a potentially adverse commercial effect upon marketing or sales of the
      LICENSED PRODUCT(S) developed and being sold by Company. 

    

    5.5 Patent
      Acknowledgement. Company
      agrees that all packaging containing individual LICENSED PRODUCT(S) sold
      by
      Company, AFFILIATED COMPANIES and SUBLICENSEE(S) of Company will be marked
      with
      the number of the applicable patent(s) licensed hereunder in accordance with
      each country's patent laws. 

    

    ARTICLE
      6

    REPRESENTATIONS

    

    6.1 Duties
      of the Parties. JHU
      is
      not a commercial organization. It is an institute of research and education.
      Therefore, JHU has no ability to evaluate the commercial potential of any PATENT
      RIGHTS or LICENSED PRODUCT or other license or rights granted in this Agreement.
      It is therefore incumbent upon Company to evaluate the rights and products
      in
      question, to examine the materials and information provided by JHU, and to
      determine for itself the validity of any PATENT RIGHTS, its freedom to operate,
      and the value of any LICENSED PRODUCTS or other rights granted. 

    

    6.2 Representations
      by JHU.
      JHU
      warrants that it has good and marketable title to its interest in the inventions
      claimed under PATENT RIGHTS with the exception of certain retained rights of
      the
      United States Government, which may apply if any part of the JHU research was
      funded in whole or in part by the United States Government, and HHMI. JHU
      warrants and represents that it has no knowledge of any legal suit, proceeding
      or claim of ownership by a third party contesting JHU’s ownership or the
      validity of the PATENT RIGHTS. JHU does not warrant the validity of any patents
      or that practice under such patents shall be free of infringement. EXCEPT AS
      EXPRESSLY SET FORTH IN THIS PARAGRAPH 6.2, COMPANY, AFFILIATED COMPANIES AND
      SUBLICENSEE(S) AGREE THAT THE PATENT RIGHTS ARE PROVIDED "AS IS", AND THAT
      JHU
      MAKES NO REPRESENTATION OR WARRANTY WITH RESPECT TO THE PERFORMANCE OF LICENSED
      PRODUCT(S) INCLUDING THEIR SAFETY, EFFECTIVENESS, OR COMMERCIAL VIABILITY.
      JHU
      DISCLAIMS ALL WARRANTIES WITH REGARD TO PRODUCT(S) AND SERVICE(S) LICENSED
      UNDER
      THIS AGREEMENT, INCLUDING, BUT NOT LIMITED TO, ALL WARRANTIES, EXPRESSED OR
      IMPLIED, OF MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE.
      NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, JHU ADDITIONALLY
      DISCLAIMS ALL OBLIGATIONS AND LIABILITIES ON THE PART OF JHU AND INVENTORS,
      FOR
      DAMAGES, INCLUDING, BUT NOT LIMITED TO, DIRECT, INDIRECT, SPECIAL, AND
      CONSEQUENTIAL DAMAGES, ATTORNEYS' AND EXPERTS' FEES, AND COURT COSTS (EVEN
      IF
      JHU HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, FEES OR COSTS), ARISING
      OUT OF OR IN CONNECTION WITH THE MANUFACTURE, USE, OR SALE OF THE PRODUCT(S)
      AND
      SERVICE(S) LICENSED UNDER THIS AGREEMENT. COMPANY, AFFILIATED COMPANIES AND
      SUBLICENSEE(S) ASSUME ALL RESPONSIBILITY AND LIABILITY FOR LOSS OR DAMAGE CAUSED
      BY A PRODUCT AND/OR SERVICE MANUFACTURED, USED, OR SOLD BY COMPANY, ITS
      SUBLICENSEE(S) AND AFFILIATED COMPANIES WHICH IS A LICENSED PRODUCT(S) OR AS
      DEFINED IN THIS AGREEMENT. 

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          11

        
          

        

      

      
         

      

    

    6.3 Corporate
      Authority.
      Notwithstanding the foregoing, JHU hereby represents that it has the full power
      and authority to enter into this Agreement and to convey the rights herein
      conveyed.

    

    ARTICLE
      7

    INDEMNIFICATION

    

    7.1 Indemnification.
      JHU,
      HHMI and the Inventors will have no legal liability exposure to third parties
      if
      JHU does not license the LICENSED PRODUCT(S), and any royalties JHU, HHMI and
      the Inventors may receive is not adequate compensation for such legal liability
      exposure. Therefore, JHU requires Company to protect JHU, HHMI and Inventors
      from such exposure to the same manner and extent to which insurance, if
      available, would protect JHU, HHMI and Inventors. Furthermore, JHU, HHMI and
      the
      Inventors will not, under the provisions of this Agreement or otherwise, have
      control over the manner in which Company or its AFFILIATED COMPANIES or its
      SUBLICENSEE(S) or those operating for its account or third parties who purchase
      LICENSED PRODUCT(S) from any of the foregoing entities, develop, manufacture,
      market or practice the inventions of LICENSED PRODUCT(S). 

    

    (a)
       Company,
      AFFILIATED COMPANY and SUBLICENSEE shall indemnify, defend with counsel
      reasonably acceptable to JHU, and hold JHU, The Johns Hopkins Health Systems,
      their present and former trustees, officers, Inventors of PATENT RIGHTS, agents,
      faculty, employees and students harmless as against any judgments, fees,
      expenses, or other costs arising from or incidental to any product liability
      or
      other lawsuit, claim, demand or other action brought as a consequence of the
      practice of said inventions by any of the foregoing entities, whether or not
      JHU
      or said Inventors, either jointly or severally, is named as a party defendant
      in
      any such lawsuit and whether or not JHU or the Inventors are alleged to be
      negligent or otherwise responsible for any injuries to persons or property.
      Practice of the inventions covered by LICENSED PRODUCT(S) by an AFFILIATED
      COMPANY or an agent or a SUBLICENSEE(S) or a third party on behalf of or for
      the
      account of Company or by a third party who purchases LICENSED PRODUCT(S) from
      Company, shall be considered Company's practice of said inventions for purposes
      of this Paragraph. The obligation of Company to defend and indemnify as set
      out
      in this Paragraph 7.1(a) shall survive the termination of this Agreement, shall
      continue even after assignment of rights and responsibilities to an AFFILIATED
      COMPANY or SUBLICENSEE, and shall not be limited by any other limitation of
      liability elsewhere in this Agreement. 

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          12

        
          

        

      

      
         

      

    

    (b)
       HHMI
      and
      its trustees, officers, employees, and agents (collectively, “HHMI
      Indemnitees”), will be indemnified, defended by counsel acceptable to HHMI, and
      held harmless by Company, AFFILIATED COMPANY and SUBLICENSEE from and against
      any claim, liability, cost, expense, damage, deficiency, loss, or obligation,
      of
      any kind or nature (including, without limitation, reasonable attorneys’ fees
      and other costs and expenses of defense) (collectively, “Claims”), based upon,
      arising out of, or otherwise relating to this Agreement, including without
      limitation any cause of action relating to product liability. The previous
      sentence will not apply to any Claim that is determined with finality by a
      court
      of competent jurisdiction to result solely from the gross negligence or willful
      misconduct of an HHMI Indemnitee.
      The obligation of Company to defend and indemnify as set out in this Paragraph
      7.1 (b) shall survive the termination of this Agreement, shall continue even
      after assignment of rights and responsibilities to an AFFILIATED COMPANY and
      SUBLICENSEE, and shall not be limited by any other limitation of liability
      elsewhere in this Agreement.

    

    ARTICLE
      8

    CONFIDENTIALITY

    

    8.1 Confidentiality.
      If
      necessary, the parties will exchange information, which they consider to be
      confidential. The recipient of such information agrees to accept the disclosure
      of said information which is marked as confidential at the time it is sent
      to
      the recipient, and to employ all reasonable efforts to maintain the information
      secret and confidential, such efforts to be no less than the degree of care
      employed by the recipient to preserve and safeguard its own confidential
      information, and in any event no less than a reasonable degree of care. The
      information shall not be disclosed or revealed to anyone except employees of
      the
      recipient who have a need to know the information and who have entered into
      a
      secrecy agreement with the recipient under which such employees are required
      to
      maintain confidential the proprietary information of the recipient and such
      employees shall be advised by the recipient of the confidential nature of the
      information and that the information shall be treated accordingly. 

    

    The
      obligations of this Paragraph shall also apply to AFFILIATED COMPANIES and/or
      SUBLICENSEE(S) provided such information by Company. JHU's, Company's,
      AFFILIATED COMPANIES, and SUBLICENSEES' obligations under this Paragraph shall
      extend until five (5) years after the termination of this Agreement.

    

    8.2 Exceptions.
      The
      recipient's obligations under Paragraph 8.1 shall not extend to any part of
      the
      information:

    

    
      	 	
              a.

            	
              that
                can be demonstrated to have been in the public domain or publicly
                known
                and readily available to the trade or the public prior to the date
                of the
                disclosure; or 

            

    

    

    
      	 	
              b.

            	
              that
                can be demonstrated, from written records to have been in the recipient's
                possession prior to the date of disclosure;
                or

            

    

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          13

        
          

        

      

      
         

      

    

    
      	 	
              c.

            	
              that
                becomes part of the public domain or publicly known by publication
                or
                otherwise, not due to any unauthorized act by the recipient;
                or

            

    

    

    
      	 	
              d.

            	
              that
                is demonstrated from written records to have been developed by or
                for the
                receiving party without reference to confidential information disclosed
                by
                the disclosing party. 

            

    

    

    
      	 	
              e.

            	
              that
                is required to be disclosed by law, government regulation or court
                order.

            

    

    

    Without
      limiting any of the foregoing, it is understood that either Party or its
      AFFILIATED COMPANIES may make disclosure of this Agreement and the terms hereof
      in any filings required by the SEC (or any other securities exchange authority),
      may file this Agreement as an exhibit to any filing with the SEC (or any other
      securities exchange authority) and may distribute any such filing in the
      ordinary course of its business. However, to the maximum extent allowable by
      SEC
      (or any other securities authority) rules and regulations, the Parties shall
      be
      obligated to maintain the confidentiality obligations set forth herein and
      shall
      redact any confidential information set forth in such filings as may be
      reasonably requested by the disclosing Party.

    

    8.3 Right
      to Publish. JHU
      may
      publish manuscripts, abstracts or the like describing the PATENT RIGHTS and
      inventions contained therein provided confidential information of Company as
      defined in Paragraph 8.1, is not included or without first obtaining approval
      from Company to include such confidential information. Otherwise, JHU and the
      Inventors shall be free to publish manuscripts and abstracts or the like
      directed to the work done at JHU related to the licensed technology without
      prior approval. 

    

    ARTICLE
      9

    TERM
      & TERMINATION

    

    9.1 Term. The
      term
      of this Agreement shall commence on the EFFECTIVE DATE and shall continue,
      in
      each country, until the date of expiration of the last to expire patent included
      within PATENT RIGHTS in that country or if no patents issue then for the ROYALTY
      TERM. 

    

    9.2 Termination By
      Either Party. This
      Agreement may be terminated by either party, in the event that the other party
      (a) files or has filed against it a petition under the Bankruptcy Act, makes
      an
      assignment for the benefit of creditors, has a receiver appointed for it or
      a
      substantial part of its assets, or otherwise takes advantage of any statute
      or
      law designed for relief of debtors or (b) fails to perform or otherwise breaches
      any of its material obligations hereunder, if, following the giving of notice
      by
      the terminating party of its intent to terminate and stating the grounds
      therefor, the party receiving such notice shall not have cured the failure
      or
      breach within thirty (30) days. In no event, however, shall such notice or
      intention to terminate be deemed to waive any rights to damages or any other
      remedy which the party giving notice of breach may have as a consequence of
      such
      failure or breach. 

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          14

        
          

        

      

      
         

      

    

    9.3 Termination
      by Company.
      Company
      may terminate this Agreement and the license granted herein, for any reason,
      upon giving JHU ninety (90) days written notice. 

    

    9.4 Obligations
      and Duties upon Termination.
      If this
      Agreement is terminated, both parties shall be released from all obligations
      and
      duties imposed or assumed hereunder to the extent so terminated, except as
      expressly provided to the contrary in this Agreement. Upon termination, both
      parties shall cease any further use of the confidential information disclosed
      to
      the receiving party by the other party. Termination of this Agreement, for
      whatever reason, shall not affect any obligation of either party, including
      payment obligations, which shall have accrued prior to such termination.
      Termination shall not affect JHU's right to recover unpaid royalties, fees,
      reimbursement for patent expenses, or other forms of financial compensation
      incurred prior to termination. Upon termination Company shall submit a final
      royalty report to JHU and any royalty payments, fees, unreimbursed patent
      expenses and other financial compensation due JHU shall become immediately
      payable. Furthermore, upon termination of this Agreement, all rights in and
      to
      the licensed technology shall revert immediately to JHU at no cost to JHU.
      Upon
      termination of this Agreement, any SUBLICENSEE(S) may become a direct licensee
      of JHU, provided that JHU’s obligations to SUBLICENSEE(S) are no greater than
      JHU’s obligations to Company under this Agreement. Company shall provide written
      notice of such to each SUBLICENSEE(S) with a copy of such notice provided to
      JHU. 

    

    ARTICLE
      10

    MISCELLANEOUS

    

    10.1 Use
      of Name. Company,
      AFFILIATED COMPANIES and SUBLICENSEE(S) shall not use the name of the Howard
      Hughes Medical institute, The Johns Hopkins University or The Johns Hopkins
      Health System or any of their constituent parts, such as the Johns Hopkins
      Hospital or any contraction thereof or the name of Inventors in any advertising,
      promotional, sales literature or fundraising documents without prior written
      consent from an authorized representative of JHU. Company, AFFILIATED COMPANIES
      and SUBLICENSEE(S) shall allow at least seven (7) business days notice of any
      proposed public disclosure for JHU's and/or HHMI’s review and comment or to
      provide written consent. For the purposes of this Paragraph, notice to HHMI
      should be directed to:

    

    Howard
      Hughes Medical Institute

    4000
      Jones Bridge Road

    Chevy
      Chase, Maryland 20815

    Attn:
      Office of the General Counsel

    

    Without
      limiting any of the foregoing, it is understood that the Company may use the
      name of the Howard Hughes Medical Institute, The Johns Hopkins University or
      The
      Johns Hopkins Health System in any filings as required by the SEC (or any other
      securities exchange authority), and may distribute any such filing in the
      ordinary course of its business.

    

    10.2 No
      Partnership. Nothing
      in this Agreement shall be construed to create any agency, employment,
      partnership, joint venture or similar relationship between the parties other
      than that of a licensor/licensee. Neither party shall have any right or
      authority whatsoever to incur any liability or obligation (express or implied)
      or otherwise act in any manner in the name or on the behalf of the other, or
      to
      make any promise, warranty or representation binding on the other. 

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          15

        
          

        

      

      
         

      

    

    10.3 Notice
      of Claim.
      Each
      party shall give the other or its representative immediate notice of any suit
      or
      action filed, or prompt notice of any claim made, against them arising out
      of
      the performance of this Agreement or arising out of the practice of the
      inventions licensed hereunder.

    

    10.4 Product
      Liability. 
      Prior to
      initial human testing or first commercial sale of any LICENSED PRODUCT(S) in
      any
      particular country, Company shall establish and maintain, in each country in
      which Company, an AFFILIATED COMPANY or SUBLICENSEE(S) shall test or sell
      LICENSED PRODUCT(S), product liability or other appropriate insurance coverage
      in the minimum amount of [***] dollars ($[***]) per claim and will annually
      present evidence to JHU that such coverage is being maintained. Upon JHU's
      request, Company will furnish JHU with a Certificate of Insurance of each
      product liability insurance policy obtained. JHU and HHMI shall be listed as
      an
      additional insureds in Company's said insurance policies. If such Product
      Liability insurance is underwritten on a ‘claims made’ basis,
      Company agrees that any change in underwriters during the term of this Agreement
      will require the purchase of ‘prior acts’ coverage to ensure that coverage will
      be continuous throughout the term of this Agreement.

    

    10.5 Governing
      Law.
      This
      Agreement shall be construed, and legal relations between the parties hereto
      shall be determined, in accordance with the laws of the State of Maryland
      applicable to contracts solely executed and wholly to be performed within the
      State of Maryland without giving effect to the principles of conflicts of laws.
      Any disputes between the parties to the Agreement shall be brought in the state
      or federal courts of Maryland. Both parties agree to waive their right to a
      jury
      trial.

    

    10.6 Notice.
      All
      notices or communication required or permitted to be given by either party
      hereunder shall be deemed sufficiently given if transmitted by facsimile with
      confirmed transmission, mailed by registered mail or certified mail, return
      receipt requested, or sent by overnight courier, such as Federal Express, to
      the
      other party at its respective address set forth below or to such other address
      as one party shall give notice of to the other from time to time hereunder.
      Faxed notices shall be deemed to be received on the first business day following
      the date of confirmed transmission. Mailed notices shall be deemed to be
      received on the third business day following the date of mailing. Notices sent
      by overnight courier shall be deemed received the following business day.

    

    
      	
            	If
              to Company:	
              Rosetta
                Genomics Ltd.

            

    

    10
      Plaut
      St.

    Rehovot,
      76706 Israel

    Attn:
      President

    Fax:
      +972
      8 948 4766 

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          16

        
          

        

      

      
         

      

    

    

    
      	
            	If
              to JHU:	
              Technology
                Transfer

            

    

    Johns
      Hopkins University 

    100
      N.
      Charles Street

    5th
      Floor

    Baltimore,
      MD 21201

    Attn:
      Director

    Fax:
      (410) 516-4411

    

    10.7 Compliance
      with All Laws.
      In all
      activities undertaken pursuant to this Agreement, both JHU and Company covenant
      and agree that each will in all material respects comply with such Federal,
      state and local laws and statutes, as may be in effect at the time of
      performance and all valid rules, regulations and orders thereof regulating
      such
      activities. 

    

    10.8 Successors
      and Assigns.
      Neither
      this Agreement nor any of the rights or obligations created herein, except
      for
      the right to receive any remuneration hereunder, may be assigned by either
      party, in whole or in part, without the prior written consent of the other
      party, except that either party shall be free to assign this Agreement to an
      AFFILIATED COMPANY or in connection with any sale of substantially all of its
      assets without the consent of the other. This Agreement shall bind and inure
      to
      the benefit of the successors and permitted assigns of the parties hereto.
      

    

    10.9 No
      Waivers; Severability.
      No
      waiver of any breach of this Agreement shall constitute a waiver of any other
      breach of the same or other provision of this Agreement, and no waiver shall
      be
      effective unless made in writing. Any provision hereof prohibited by or
      unenforceable under any applicable law of any jurisdiction shall as to such
      jurisdiction be deemed ineffective and deleted herefrom without affecting any
      other provision of this Agreement. It is the desire of the parties hereto that
      this Agreement be enforced to the maximum extent permitted by law, and should
      any provision contained herein be held by any governmental agency or court
      of
      competent jurisdiction to be void, illegal and unenforceable, the parties shall
      negotiate in good faith for a substitute term or provision which carries out
      the
      original intent of the parties.

    

    10.10 Entire
      Agreement; Amendment.
      Company
      and JHU acknowledge that they have read this entire Agreement and that this
      Agreement, including the attached Exhibits constitutes the entire understanding
      and contract between the parties hereto and supersedes any and all prior or
      contemporaneous oral or written communications with respect to the subject
      matter hereof, all of which communications are merged herein. It is expressly
      understood and agreed that (i) there being no expectations to the contrary
      between the parties hereto, no usage of trade, verbal agreement or another
      regular practice or method dealing within any industry or between the parties
      hereto shall be used to modify, interpret, supplement or alter in any manner
      the
      express terms of this Agreement; and (ii) this Agreement shall not be modified,
      amended or in any way altered except by an instrument in writing signed by
      both
      of the parties hereto. 

    

    10.11 Delays
      or Omissions.
      Except
      as expressly provided herein, no delay or omission to exercise any right, power
      or remedy accruing to any party hereto, shall impair any such right, power
      or
      remedy to such party nor shall it be construed to be a waiver of any such breach
      or default, or an acquiescence therein, or in any similar breach or default
      be
      deemed a waiver of any other breach or default theretofore or thereafter
      occurring. Any waiver, permit, consent or approval of any kind or character
      on
      the part of any party of any breach or default under this Agreement, or any
      waiver on the part of any party of any provisions or conditions of this
      Agreement, must be in writing and shall be effective only to the extent
      specifically set forth in such writing. All remedies either under this Agreement
      or by law or otherwise afforded to any party, shall be cumulative and not
      alternative. 

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          17

        
          

        

      

      
         

      

    

    10.12 Force
      Majeure.
      If
      either party fails to fulfill its obligations hereunder (other than an
      obligation for the payment of money), when such failure is due to an act of
      God,
      or other circumstances beyond its reasonable control, including but not limited
      to fire, flood, civil commotion, riot, war (declared and undeclared),
      revolution, or embargoes, then said failure shall be excused for the duration
      of
      such event and for such a time thereafter as is reasonable to enable the parties
      to resume performance under this Agreement, provided however, that in no event
      shall such time extend for a period of more than one hundred eighty (180)
      days.

    

    10.13 Further
      Assurances.
      Each
      party shall, at any time, and from time to time, prior to or after the EFFECTIVE
      DATE of this Agreement, at reasonable request of the other party, execute and
      deliver to the other such instruments and documents and shall take such actions
      as may be required to effectively carry out the terms of this Agreement.

    

    10.14 Survival.
      All
      representations, warranties, covenants and agreements made herein and which
      by
      their express terms or by implication are to be performed after the execution
      and/or termination hereof, or are prospective in nature, shall survive such
      execution and/or termination, as the case may be. This shall include Paragraphs
      3.7 (Late Payments), 5.2 (Records), and Articles 6, 7, 8, 9, and
      10.

    

    10.15 Third
      Party Beneficiary.
      HHMI is
      not a party to this Agreement and has no liability to any licensee,
      SUBLICENSEE(S) or user of anything covered by this Agreement, but HHMI is an
      intended third-party beneficiary of the Agreement and certain of its provisions
      are for the benefit of HHMI and are enforceable by HHMI in its own
      name.

    

    10.16 Headings.
      Article
      headings are for convenient reference and not a part of this Agreement. All
      Exhibits are incorporated herein by this reference. 

    

    10.17 Counterparts.
      This
      Agreement may be executed in counterparts, each of which shall be deemed an
      original and all of which when taken together shall be deemed but one
      instrument. 

    

    10.18 NEITHER
      PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR ANY PUNITIVE OR EXEMPLARY DAMAGES,
      RELATED TO AND/OR CONNECTED WITH THE PERFORMANCE OF THIS AGREEMENT, EVEN IF
      THE
      FIRST PARTY IS ADVISED OR SHOULD HAVE KNOWN OF THE POSSIBILITY OF SUCH DAMAGES.
      THIS LIMITATION SHALL NOT APPLY TO A PARTY'S DUTY OF INDEMNIFICATION AGAINST
      CLAIMS BROUGHT BY THIRD PARTIES.

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          18

        
          

        

      

      
         

      

    

    

    IN
      WITNESS WHEREOF, this Agreement shall take effect as of the EFFECTIVE DATE
      when
      it has been executed below by the duly authorized representatives of the
      parties. 

    

    

    
      	
              THE
                JOHNS HOPKINS UNIVERSITY

            	
              ROSETTA
                GENOMICS LTD

            
	 	 
	 	 
	 	 
	
              /s/
                Jill A. Tarzian
                Sorensen                        
                

            	
              /s/
                Amir
                Avniel                                         
                

            
	
              Jill
                A. Tarzian Sorensen

            	
              Name:
                Amir Avniel

            
	
              Executive
                Director

            	
              Title:  
                CEO

            
	
              Johns
                Hopkins Technology Transfer

            	
              Rosetta
                Genomics

            
	 	 
	
              August
                2, 2006

            	
              August
                2, 2006

            
	
              (Date)

            	
              (Date)

            

    

    

    EXHIBIT
      A. LICENSE FEE & ROYALTIES.

    EXHIBIT
      B. SALES & ROYALTY REPORT FORM.

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          19

        
          

        

      

      
         

      

    

    

    EXHIBIT
      A

    

    LICENSE
      FEE & ROYALTIES

    

    
      
        1.
          License
          Fee: The
          license fee due under Paragraph 3.1 is [***] dollars
          ($[***]).

      

    

    

    

    2.
      Minimum Annual Royalties: The
      minimum annual royalties due on anniversaries of the Effective Date pursuant
      to
      Paragraph 3.2: 

    

    
      	
            	1st
              anniversary:	
              [***]
                dollars ($[***]).

            

      	 	 	 

      	 	2nd
              anniversary:	 [***]
              dollars ($[***]).

      	 	 	 

      	 	3rd
              anniversary:	 [***]
              dollars ($[***]).

      	 	 	 

      	 	4th
              anniversary:	 [***]
              dollars ($[***]).

      	 	 	 

      	 	5th
              anniversary:	 [***]
              dollars ($[***]).

      	 	 	 

      	 	6
              th
              anniversary and thereafter:	 [***]
              dollars ($[***]).

    

    

    
      
        3.
          Royalties:
          The
          running royalty rate payable under Paragraph 3.3 is:

      

    

    

    Licensed
      Product - [***]%

    

    4. Sublicense
      consideration: The
      percent sublicense consideration payable under Paragraph 3.5 is: 

    

    [***]
      percent ([***]%) for any sublicense agreement to make, use or sell LICENSED
      PRODUCTS, and entered into with a sublicensee within [***] after the EFFECTIVE
      DATE of this Agreement,
      

    

    [***]
      percent ([***]%) for any sublicense agreement to make, use or sell LICENSED
      PRODUCTS, and entered into with a sublicensee more than [***] after the
      EFFECTIVE DATE but before the second anniversary of the EFFECTIVE DATE,
      and

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          20

        
          

        

      

      
         

      

       

       

    

    [***]
      percent ([***]%) for any sublicense agreement to make, use or sell LICENSED
      PRODUCTS, and entered into with a sublicensee more than [***] after the
      EFFECTIVE DATE.

    

    

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          21

        
          

        

      

      
         

      

    

    

    EXHIBIT
      B

    

    QUARTERLY
      SALES & ROYALTY REPORT

    

    FOR
      LICENSE AGREEMENT BETWEEN ROSETTA GENOMICS LTD AND 

    THE
      JOHNS HOPKINS UNIVERSITY DATED 

    ___________________________

    

    FOR
      PERIOD OF ______________ TO ______________

    

    TOTAL
      ROYALTIES DUE FOR THIS PERIOD $___________

    

    
      	
              PRODUCT

              ID

            	
              PRODUCT
                NAME

            	
               

              *JHU
                REFERENCE

            	
              1st
                COMMERCIAL SALE DATE

            	
              TOTAL
                NET

              SALES/SERVICES

            	
               

              ROYALTY
                RATE

            	
              AMOUNT

              DUE

            
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

    

    

    *
      Please
      provide the JHU Reference Number or Patent Reference

    

    This
      report format is to be used to report quarterly royalty statements to JHU.
      It
      should be placed on Company letterhead and accompany any royalty payments due
      for the reporting period. This report shall be submitted even if no sales are
      reported. 

    

    
      
        Portions
          of this Exhibit were omitted and have been filed separately with the Secretary
          of the Commission pursuant to the Company’s application requesting confidential
          treatment under Rule 406 of the Securities Act.

         

      

      
        Page
          22

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