Document:

Indemnification Agreement

EXHIBIT 10.8 
 
INDEMNIFICATION AGREEMENT 
 
This Indemnification Agreement (the “Agreement”) is entered into as of the 18th day
of April, 2003, by and among Ribozyme Pharmaceuticals, Inc., a Delaware corporation (the “Company”) and the indemnitees listed on the signature pages hereto (each an “Indemnitee” and collectively, the
“Indemnitees”). 
 
RECITALS

 
A. The Company and the Indemnitees recognize the
continued difficulty in obtaining liability insurance for the Company’s directors, officers, employees, controlling persons, agents and fiduciaries, the significant increases in the cost of such insurance and the general reductions in the
coverage of such insurance. 
 
B. The Company and
the Indemnitees further recognize the substantial increase in corporate litigation in general, subjecting directors, officers, employees, controlling persons, agents and fiduciaries to expensive litigation risks at the same time as the availability
and coverage of liability insurance has been severely limited. 
 
C. The Indemnitees do not regard the prior protection available as adequate under the circumstances, and the Indemnitees and other directors, officers, employees, controlling persons, agents and fiduciaries of the Company are not
willing to serve in such capacities without additional protection, so the Company and the Indemnitees desire to enter into this Agreement. 
 
D. The Company (i) desires to attract and retain the involvement of highly qualified groups, such as the Indemnitees, to serve the Company
and, in part, to induce each Indemnitee to be involved with the Company and (ii) wishes to provide for the indemnification and advancing of expenses to each Indemnitee to the maximum extent permitted by law. 
 
E. In view of the considerations set forth above, the Company
desires that each Indemnitee be indemnified by the Company as set forth herein. 
 
NOW, THEREFORE, the Company and each Indemnitee hereby agrees as follows: 
 
1. Indemnification. 
 
a. Indemnification of Expenses. The Company shall indemnify and hold harmless each Indemnitee (including, without limitation, its
respective directors, officers, partners, employees, agents and spouses) and each person who controls any of them or who may be liable within the meaning of Section 15 of the Securities Act of 1933, as amended (the “Securities
Act”), or Section 20 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) to the fullest extent permitted by law if such Indemnitee was or is or becomes a party to or witness or other
participant in, or is threatened to be made a party to or witness or other participant in, any threatened, pending or completed action, suit, proceeding or alternative dispute resolution mechanism, or any hearing, inquiry or investigation that such
Indemnitee 

reasonably believes might lead to the institution of any such action, suit, proceeding or alternative
dispute resolution mechanism, whether civil, criminal, administrative, investigative or other (hereinafter a “Claim”) by reason of (or arising in part out of) any event or occurrence related to the fact that such Indemnitee
is or was a director, officer, employee, controlling person, agent or fiduciary of the Company, or any subsidiary of the Company, or is or was serving at the request of the Company as a director, officer, employee, controlling person, agent or
fiduciary of another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action or inaction on the part of such Indemnitee while serving in such capacity including, without limitation, any and all losses, claims,
damages, expenses and liabilities, joint or several (including, without limitation, any investigation, legal and other expenses incurred in connection with, and any amount paid in settlement of, any action, suit, proceeding or any claim asserted)
under the Securities Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, which relate directly or indirectly to the registration, purchase, sale or ownership of any securities of the Company or to
any fiduciary obligation owed with respect thereto (hereinafter an “Indemnification Event”) against any and all expenses (including, without limitation, reasonable attorneys’ fees and all other reasonable costs, expenses
and obligations incurred in connection with investigating, defending a witness in or participating in (including, without limitation, on appeal), or preparing to defend, be a witness in or participate in, any such action, suit, proceeding,
alternative dispute resolution mechanism, hearing, inquiry or investigation), judgments, fines, penalties and amounts paid in settlement (if such settlement is approved in advance by the Company, which approval shall not be unreasonably withheld) of
such Claim and any federal, state, local or foreign taxes imposed on such Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement (collectively, hereinafter “Expenses”), including, without
limitation, all interest, assessments and other charges paid or payable in connection with or in respect of such Expenses. Such payment of allowed Expenses shall be made by the Company as soon as practicable but in any event no later than five (5)
days after written demand by the Indemnitee therefor is presented to the Company. 
 
b. Reviewing Party. Notwithstanding the foregoing, (i) the obligations of the Company under Section 1(a) shall be subject to the condition that the Reviewing Party (as described in Section 10(e)
hereof) shall not have determined (in a written opinion, in any case in which the Independent Legal Counsel referred to in Section 10(d) hereof is involved) that an Indemnitee would not be permitted to be indemnified under applicable law, and (ii)
each Indemnitee acknowledges and agrees that the obligation of the Company to make an advance payment of Expenses to an Indemnitee pursuant to Section 2(a) (an “Expense Advance”) shall be subject to the condition that, if,
when and to the extent that the Reviewing Party determines that an Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be entitled to be reimbursed by such Indemnitee (who hereby agrees to reimburse the
Company) for all such amounts theretofore paid; provided, however, that if such Indemnitee has commenced or thereafter commences legal proceedings in a court of competent jurisdiction to secure a determination that such Indemnitee
should be indemnified under applicable law, any determination made by the Reviewing Party that such Indemnitee would not be permitted to be indemnified under applicable law shall not be binding and such Indemnitee shall not be required to reimburse
the Company for any Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed). An Indemnitee’s obligation to reimburse the Company for any
Expense Advance shall be unsecured and no interest shall be charged thereon 
 

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if such reimbursement is made within thirty (30) days of such final judicial determination, unless
otherwise required by the court. If there has not been a Change in Control (as defined in Section 10(c) hereof), the Reviewing Party shall be selected by the Board of Directors, and if there has been such a Change in Control (other than a Change in
Control that has been approved by a majority of the Company’s Board of Directors who were directors immediately prior to such Change in Control), the Reviewing Party shall be the Independent Legal Counsel referred to in Section 10(d) hereof. If
there has been no determination by the Reviewing Party or if the Reviewing Party determines that an Indemnitee substantively would not be permitted to be indemnified in whole or in part under applicable law, the Indemnitee shall have the right to
commence litigation seeking an initial determination by the court or challenging any such determination by the Reviewing Party or any aspect thereof, including, without limitation, the legal or factual bases therefor, and the Company hereby consents
to service of process and to appear in any such proceeding. Any determination by the Reviewing Party otherwise shall be conclusive and binding on the Company and such Indemnitee. 
 
c. Contribution. If the indemnification provided for in Section 1(a) above for any reason is held by
a court of competent jurisdiction to be unavailable to an Indemnitee in respect of any losses, claims, damages, expenses or liabilities referred to therein, then the Company, in lieu of indemnifying such Indemnitee thereunder, shall contribute to
the amount paid or payable by such Indemnitee as a result of such losses, claims, damages, expenses or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Indemnitees, or (ii) if the
allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company and the Indemnitees
in connection with the action or inaction that resulted in such losses, claims, damages, expenses or liabilities, as well as any other relevant equitable considerations. In connection with the registration of the Company’s securities, the
relative benefits received by the Company and the Indemnitees shall be deemed to be in the same respective proportions that the net proceeds from the offering (before deducting expenses) received by the Company and the Indemnitees, in each case as
set forth in the table on the cover page of the applicable prospectus, bear to the aggregate public offering price of the securities so offered. The relative fault of the Company and the Indemnitees shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company or the Indemnitees and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission. 
 
The Company and the Indemnitees agree that it would not be just and equitable if contribution pursuant to this Section 1(c) were
determined by pro rata or per capita allocation or by any other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding paragraph. In connection with the registration of the
Company’s securities, in no event shall an Indemnitee be required to contribute any amount under this Section 1(c) in excess of the lesser of (i) that proportion of the total of such losses, claims, damages or liabilities that are indemnified
against, equal to the proportion of the total securities sold under such registration statement that are being sold by such Indemnitee or (ii) the proceeds received by such Indemnitee from its sale of securities under such registration statement. No
person found guilty of fraudulent misrepresentation (within the meaning of 
 

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Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not found
guilty of such fraudulent misrepresentation. 
 
d.
Survival Regardless of Investigation. The indemnification and contribution provided for in this Section 1 will remain in full force and effect regardless of any investigation made by or on behalf of the Indemnitees or any officer, director,
employee, agent or controlling person of the Indemnitees. 
 
e. Change in Control. The Company agrees that if there is a Change in Control of the Company (other than a Change in Control that has been approved by a majority of the Company’s Board of Directors who were directors
immediately prior to such Change in Control) then, with respect to all matters thereafter arising concerning the rights of the Indemnitees to payments of Expenses under this Agreement or any other agreement or under the Company’s Certificate of
Incorporation or Bylaws as now or hereafter in effect, Independent Legal Counsel (as defined in Section 10(d) hereof) shall be selected by the Indemnitees and approved by the Company (which approval shall not be unreasonably withheld). Such counsel,
among other things, shall render its written opinion to the Company and the Indemnitees as to whether and to what extent the Indemnitees would be permitted to be indemnified under applicable law. The Company agrees to abide by such opinion and to
pay the reasonable fees of the Independent Legal Counsel referred to above and to fully indemnify such counsel against any and all expenses (including, without limitation, reasonable attorneys’ fees), claims, liabilities and damages arising out
of or relating to this Agreement or its engagement pursuant hereto. 
 
f. Mandatory Payment of Expenses. Notwithstanding any other provision of this Agreement, to the extent that the Indemnitees have been successful on the merits or otherwise, including, without limitation, the dismissal
of an action without prejudice, in the defense of any action, suit, proceeding, inquiry or investigation referred to in Section 1(a) hereof or in the defense of any claim, issue or matter therein, each Indemnitee shall be indemnified against all
Expenses incurred by such Indemnitee in connection herewith. 
 
2. Expenses; Indemnification Procedure. 
 
a. Advancement of Expenses. The Company shall advance all Expenses incurred by the Indemnitees. The advances to be made hereunder shall be paid by the Company to the Indemnitees as soon as practicable but in any event no later
than five (5) days after written demand by such Indemnitees therefor to the Company. 
 
b. Notice/Cooperation by the Indemnitees. Each Indemnitee shall give the Company notice in writing as soon as practicable of any Claim made against such Indemnitee for which indemnification will
or could be sought under this Agreement. Notice to the Company shall be directed to the Company’s Chief Executive Officer at the Company’s address (or such other address as the Company shall designate in writing to the Indemnitees).

 
c. No Presumptions; Burden of Proof. For
purposes of this Agreement, the termination of any Claim by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that the Indemnitees
did not meet any particular standard of conduct or 
 

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have any particular belief or that a court has determined that indemnification is not permitted by
applicable law. In addition, neither the failure of the Reviewing Party to have made a determination as to whether an Indemnitee has met any particular standard of conduct or had any particular belief, nor an actual determination by the Reviewing
Party that an Indemnitee has not met such standard of conduct or did not have such belief, prior to the commencement of legal proceedings by such Indemnitee to secure a judicial determination that such Indemnitee should be indemnified under
applicable law, shall be a defense to an Indemnitee’s claim or create a presumption that such Indemnitee has not met any particular standard of conduct or did not have any particular belief. In connection with any determination by the Reviewing
Party or otherwise as to whether an Indemnitee is entitled to be indemnified hereunder, the burden of proof shall be on the Company to establish that an Indemnitee is not so entitled. 
 
d. Notice to Insurers. If, at the time of the receipt by the Company of a notice of a Claim pursuant
to Section 2(b) hereof, the Company has liability insurance in effect that may cover such Claim, the Company shall give prompt notice of the commencement of such Claim to the insurers in accordance with the procedures set forth in each of the
policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitees, all amounts payable as a result of such action, suit, proceeding, inquiry or investigation in accordance with
the terms of such policies. 
 
e. Selection of
Counsel. In the event the Company shall be obligated hereunder to pay the Expenses of any Claim, the Company shall be entitled to assume the defense of such Claim, with counsel approved by the applicable Indemnitee, upon the delivery to such
Indemnitee of written notice of its election to do so. After delivery of such notice, approval of such counsel by the Indemnitee and the retention of such counsel by the Company, the Company will not be liable to such Indemnitee under this Agreement
for any fees of counsel subsequently incurred by such Indemnitee with respect to the same Claim; provided that, (i) the Indemnitee shall have the right to employ such Indemnitee’s counsel in any such Claim at the Indemnitee’s
expense and (ii) if (A) the employment of counsel by the Indemnitee has been previously authorized by the Company, (B) such Indemnitee shall have reasonably concluded that there is a conflict of interest between the Company and such Indemnitee in
the conduct of any such defense, or (C) the Company shall not continue to retain such counsel to defend such Claim, then the fees and expenses of the Indemnitee’s counsel shall be at the expense of the Company. The Company shall have the right
to conduct such defense as it sees fit in its sole discretion, including, without limitation, the right to settle any claim against any Indemnitee without the consent of such Indemnitee. 
 
3. Additional Indemnification Rights; Nonexclusivity. 
 
a. Scope. The Company hereby agrees to indemnify the
Indemnitees to the fullest extent permitted by law, even if such indemnification is not specifically authorized by the other provisions of this Agreement, the Company’s Certificate of Incorporation, the Company’s Bylaws or by statute. In
the event of any change after the date of this Agreement in any applicable law, statute or rule that expands the right of a Delaware corporation to indemnify a member of its Board of Directors or an officer, employee, controlling person, agent or
fiduciary, it is the intent of the parties hereto that the Indemnitees shall enjoy by this Agreement the greater benefits afforded by such change. In the event of any change after the date of this 
 

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Agreement in any applicable law, statute or rule that narrows the right of a Delaware corporation to
indemnify a member of its Board of Directors or an officer, employee, agent or fiduciary, such change, to the extent not otherwise required by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the
parties’ rights and obligations hereunder except as set forth in Section 8(a) hereof. 
 
b. Nonexclusivity. The indemnification provided by this Agreement shall be in addition to any rights to which the Indemnitees may be entitled under the Company’s Certificate of
Incorporation, its Bylaws, any agreement, any vote of stockholders or disinterested directors, the Delaware General Corporation Law, or otherwise. The indemnification provided under this Agreement shall continue as to each Indemnitee for any action
such Indemnitee took or did not take while serving in an indemnified capacity even though the Indemnitee may have ceased to serve in such capacity. 
 
4. No Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any
Claim made against any Indemnitee to the extent such Indemnitee has otherwise actually received payment (under any insurance policy, Certificate of Incorporation, Bylaw or otherwise) of the amounts otherwise indemnifiable hereunder. 
 
5. Partial Indemnification. If any Indemnitee is
entitled under any provision of this Agreement to indemnification by the Company for any portion of Expenses incurred in connection with any Claim, but not, however, for all of the total amount thereof, the Company shall nevertheless indemnify such
Indemnitee for the portion of such Expenses to which such Indemnitee is entitled. 
 
6. Mutual Acknowledgement. The Company and each Indemnitee acknowledge that in certain instances, Federal law or applicable public policy may prohibit the Company from indemnifying its
directors, officers, employees, controlling persons, agents or fiduciaries under this Agreement or otherwise. Each Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the
Securities and Exchange Commission to submit the question of indemnification to a court in certain circumstances for a determination of the Company’s rights under public policy to indemnify the Indemnitees. 
 
7. Liability Insurance. To the extent the Company
maintains liability insurance applicable to directors, officers, employees, control persons, agents or fiduciaries, each of the Indemnitees shall be covered by such policies in such a manner as to provide the Indemnitees the same rights and benefits
as are accorded to the most favorably insured of the Company’s directors, if such Indemnitee is a director, or of the Company’s officers, if such Indemnitee is not a director of the Company but is an officer; or of the Company’s key
employees, controlling persons, agents or fiduciaries, if such Indemnitee is not an officer or director but is a key employee, agent, control person, or fiduciary. 
 
8. Exceptions. Any other provision herein to the contrary notwithstanding, the Company shall not be
obligated pursuant to the terms of this Agreement: 
 

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a. Claims
Initiated by an Indemnitee. To indemnify or advance expenses to any Indemnitee with respect to Claims initiated or brought voluntarily by such Indemnitee and not by way of defense, except (i) with respect to actions or proceedings to establish
or enforce a right to indemnify under this Agreement or any other agreement or insurance policy or under the Company’s Certificate of Incorporation or Bylaws now or hereafter in effect relating to Claims for Indemnifiable Events, (ii) in
specific cases if the Board of Directors has approved the initiation or bringing of such Claim, or (iii) as otherwise required under Section 145 of the Delaware General Corporation Law, regardless of whether such Indemnitee ultimately is determined
to be entitled to such indemnification, advance expense payment or insurance recovery, as the case may be; or 
 
b. Claims Under Section 16(b). To indemnify any Indemnitee for expenses and the payment of profits arising from the purchase and
sale by such Indemnitee of securities in violation of Section 16(b) of the Exchange Act or any similar successor statute; or 
 
c. Claims Excluded Under Section 145 of the Delaware General Corporation Law. To indemnify any Indemnitee if indemnification is
expressly prohibited by law, subject to the right of the Indemnitee to challenge such determination pursuant to Section 1(b). 
 
d. Claims Resulting from Willful Misconduct or Fraud. To indemnify or advance Expenses to any Indemnitee with respect to Claims
resulting from such Indemnitee’s willful misconduct or fraud on the part of the Indemnitee. 
 
9. Period of Limitations. No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company against any Indemnitee or any Indemnitee’s estate,
spouse, heirs, executors or personal or legal representatives after the expiration of five (5) years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished and deemed released unless
asserted by the timely filing of a legal action within such five (5)-year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of action, such shorter period shall govern.

 
10. Construction of Certain Phrases.

 
a. For purposes of this Agreement, references
to the “Company” shall include, in addition to the resulting corporation, any constituent corporation (including, without limitation, any constituent of a constituent) absorbed in a consolidation or merger that, if its
separate existence had continued, would have had power and authority to indemnify its directors, officers, employees, agents or fiduciaries, so that if an Indemnitee is or was a director, officer, employee, agent, control person, or fiduciary of
such constituent corporation, or is or was serving at the request of such constituent corporation as a director, officer, employee, control person, agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, trust
or other enterprise, each Indemnitee shall stand in the same position under the provisions of this Agreement with respect to the resulting or surviving corporation as each Indemnitee would have with respect to such constituent corporation if its
separate existence had continued. 
 

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b. For
purposes of this Agreement, references to “other enterprises” shall include, without limitation, employee benefit plans; references to “fines” shall include, without limitation, any excise taxes
assessed on any Indemnitee with respect to an employee benefit plan; and references to “serving at the request of the Company” shall include any service as a director, officer, employee, agent or fiduciary of the Company that
imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary with respect to an employee benefit plan, its participants or its beneficiaries; and if any Indemnitee acted in good faith and in a manner such
Indemnitee reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan, such Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the
Company” as referred to in this Agreement. 
 
c. For purposes of this Agreement a “Change in Control” shall be deemed to have occurred if (i) any “person” (as such term is used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act), other than a
trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation owned directly or indirectly by the stockholders of the Company in substantially the same proportions as their ownership of stock of the
Company, (A) who is or becomes the beneficial owner, directly or indirectly, of securities of the Company representing ten percent (10%) or more of the combined voting power of the Company’s then outstanding Voting Securities (as defined in
Section 10(f) hereof), increases his beneficial ownership of such securities by five percent (5%) or more over the percentage so owned by such person, or (B) becomes the “beneficial owner” (as defined in Rule 13d-3 under said Exchange
Act), directly or indirectly, of securities of the Company representing more than twenty percent (20%) of the total voting power represented by the Company’s then outstanding Voting Securities, (ii) during any period of two (2) consecutive
years, individuals who at the beginning of such period constitute the Board of Directors of the Company and any new director whose election by the Board of Directors or nomination for election by the Company’s stockholders was approved by a
vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority
thereof, or (iii) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation other than a merger or consolidation that would result in the Voting Securities of the Company outstanding immediately
prior thereto continuing to represent (either by remaining outstanding or by being converted into Voting Securities of the surviving entity) at least eighty percent (80%) of the total voting power represented by the Voting Securities of the Company
or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of (in one
transaction or a series of transactions) all or substantially all of the Company’s assets. 
 
d. For purposes of this Agreement, “Independent Legal Counsel” shall mean an attorney or firm of attorneys, selected in accordance with the provisions of Section 2(e) hereof,
who shall not have otherwise performed services for the Company or any Indemnitee within the last three (3) years (other than with respect to matters concerning the right of any Indemnitee under this Agreement, or of other indemnitees under similar
indemnity agreements). 
 

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e. For
purposes of this Agreement, a “Reviewing Party” shall mean any appropriate person or body consisting of a member or members of the Company’s Board of Directors or any other person or body appointed by the Board of
Directors who is not a party to the particular Claim for which the Indemnitees are seeking indemnification, or Independent Legal Counsel. 
 
f. For purposes of this Agreement, “Voting Securities” shall mean any securities of the Company that vote
generally in the election of directors. 
 
11.
Amendment and Termination. Any term hereof may be amended (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of (a) the Company; and (b) each Indemnitee, if any, adversely
affected by such amendment. Any amendment so effected shall be binding upon the Company and all Indemnitees and all of their respective successors and assigns whether or not such person or entity entered into or approved such amendment or waiver.
The observance of any term hereof may be waived by a party with respect to its own interests (either generally or in a particular instance and either retroactively or prospectively) only with the written consent of the party so waiving the
observance of such term. In no event shall such waiver of any rights hereunder constitute the waiver of such rights in any future instance unless the waiver so specifies in writing. Notwithstanding anything to the contrary in this Agreement, the
Company may add additional Indemnitees at any time to this Agreement without the consent of any other Indemnitee. 
 
12. Attorneys’ Fees. In the event that any action is instituted by an Indemnitee under this Agreement or under any liability
insurance policies maintained by the Company to enforce or interpret any of the terms hereof or thereof, any Indemnitee shall be entitled to be paid all Expenses incurred by such Indemnitee with respect to such action, regardless of whether such
Indemnitee is ultimately successful in such action, and shall be entitled to the advancement of Expenses with respect to such action, unless, as a part of such action, a court of competent jurisdiction over such action determines that each of the
material assertions made by such Indemnitee as a basis for such action was not made in good faith or was frivolous. In the event of an action instituted by or in the name of the Company under this Agreement to enforce or interpret any of the terms
of this Agreement, the Indemnitee shall be entitled to be paid all Expenses incurred by such Indemnitee in defense of such action (including, without limitation, costs and expenses incurred with respect to such Indemnitee’s counterclaims and
cross-claims made in such action), and shall be entitled to the advancement of Expenses with respect to such action, unless, as a part of such action, a court having jurisdiction over such action determines that each of such Indemnitee’s
material defenses to such action was made in bad faith or was frivolous. 
 
13. Binding Effect. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors, assigns, including, without limitation, any direct or
indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs, and personal and legal representatives. 
 

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14. Choice
of Law. This Agreement shall be governed by and its provisions construed and enforced in accordance with the laws of the State of Delaware, as applied to contracts between Delaware residents, entered into and to be performed entirely within the
State of Delaware, without regard to the conflict of laws principles thereof. 
 
15. Consent to Jurisdiction. The Company and each Indemnitee each hereby irrevocably consents to the jurisdiction of the courts of the State of Delaware for all purposes in connection with any
action or proceeding that arises out of or relates to this Agreement and agree that any action instituted under this Agreement shall be commenced, prosecuted and continued only in the Court of Chancery of the State of Delaware in and for New Castle
County, which shall be the exclusive and only proper forum for adjudicating such a claim. 
 
16. Corporate Authority. The Board of Directors of the Company and its stockholders have approved the terms of this Agreement. 
 
17. Counterparts. This Agreement may be executed in one (1) or more counterparts, each of which shall
constitute an original. 
 
18. Integration and
Entire Agreement. Subject to Section 3(b), this Agreement sets forth the entire understanding between the parties hereto and supersedes and merges all previous written and oral negotiations, commitments, understandings and agreements relating to
the subject matter hereof between the parties hereto. 
 
19. No Construction as Employment Agreement. Nothing contained in this Agreement shall be construed as giving any Indemnitee any right to be retained in the employ of the Company or any of its subsidiaries. 
 
20. Notice. All notices and other communications
required or permitted hereunder shall be in writing, shall be effective when given, and shall in any event be deemed to be given (i) two (2) days after deposit with the U.S. Postal Service or other applicable postal service, if delivered by first
class mail, postage prepaid, (ii) upon delivery, if delivered by hand, (iii) one (1) business day after the business day of deposit with Federal Express or similar overnight courier, freight prepaid, or (iv) one (1) day after the business day of
delivery by facsimile transmission, if deliverable by facsimile transmission, with copy by first class mail, postage prepaid, and shall be addressed if to the Indemnitees, at each Indemnitee’s address as set forth beneath the Indemnitees’
signatures to this Agreement and if to the Company at the address of its principal corporate offices (Attention: Secretary) or at such other address as such party may designate by ten (10) days’ advance written notice to the other party hereto.

 
21. Severability. The provisions of this
Agreement shall be severable in the event that any of the provisions hereof (including, without limitation, any provision within a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise
unenforceable, and the remaining provisions shall remain enforceable to the fullest extent permitted by law. Furthermore, to the fullest extent possible, the provisions of this Agreement (including, without limitation, each portion of this Agreement
containing any provision held to be invalid, void or otherwise unenforceable, that is not itself invalid, void or 
 

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unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

 
22. Subrogation. In the event of payment
under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of an Indemnitee who shall execute all documents required and shall do all acts that may be necessary to secure such rights and to
enable the Company effectively to bring suit to enforce such rights. 
 
23. Successors and Assigns. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all, or a substantial part, of the
business and/or assets of the Company, by written agreement in form and substance satisfactory to each Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required
to perform if no such succession had taken place. This Agreement shall continue in effect with respect to Claims relating to Indemnifiable Events regardless of whether any Indemnitee continues to serve as a director, officer, employee, agent,
controlling person, or fiduciary of the Company or of any other enterprise, including, without limitation, subsidiaries of the Company, at the Company’s request. 
 
[Signature Pages Follow] 
 

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

	 RIBOZYME PHARMACEUTICALS, INC.:

	
	 By:
	 	 /s/    HOWARD W.
ROBIN        

	 Name:
	 	 Howard W. Robin

	 Title:
	 	 President and CEO

	 Address:
	 	 2950 Wilderness Place
 Boulder, Colorado 80301

 
SIGNATURE PAGE TO INDEMNIFICATION AGREEMENT 

 

	 INDEMNITEES:

	
	 /s/    BRYAN
ROBERTS        

	 Bryan Roberts

 

13Non-Competition and Non-Solicitation Agreement

 
EXHIBIT 10.9

 
NON-COMPETITION and NON-SOLICITATION
AGREEMENT 
 
This Non-Competition and
Non-Solicitation Agreement (this “Agreement”) is entered into as of February 11, 2003, by and among Ribozyme Pharmaceuticals, Inc., a Delaware corporation (the “Company”) and Howard W. Robin, an individual
(“Employee”). 
 
RECITALS

 
The Company is engaged or proposes to engage in
the business of researching, developing, manufacturing, licensing, selling, and distributing therapeutics and diagnostic technologies using nucleotides and oligonucleotides (such business being collectively referred to herein as the
“Business”). 
 
From and after the
closing of the transactions contemplated by the Purchase Agreement (as defined below), the Company proposes that its principal business activities shall relate to the research, development, manufacture, license, sale and distribution of therapeutic
products using siRNA technology (hereinafter, “siRNA Technology”). During the Non-Competition Period (as hereinafter defined), the Company may, in addition to or in substitution for siRNA Technology, have additional platform
technologies as its principal business activity or activities, including without limitation programs in therapeutic areas where the Company has advanced a product into pre-clinical toxicology or later stages of development (the “Field of
Interest”). For example, the current Field of Interest would include without limitation the viruses HBV and HCV and the therapeutic gene target VEGF-Receptor R-1, which are within the scope of the Company’s current principal business
activities, but other therapeutic areas, such as anti-viral therapeutic products and specific cancer therapeutics, would exceed the scope of activities covered by the current Field of Interest. 
 
Employee is one of the Company’s key employees, an
executive officer of the Company, and a member of the Company’s management team. Employee acknowledges that he has detailed knowledge of the Intellectual Property and other confidential and proprietary information of the Company. 
 
Pursuant to the Common Stock and Warrant Purchase Agreement
dated as of February 11, 2003 by and among the Company and the Investors listed on Exhibit A thereto (the “Purchase Agreement”), on the terms and subject to the conditions set forth therein, the Company will issue securities to the
Investors. Capitalized terms used herein shall have the meanings set forth herein or, if not defined herein, shall have the meanings ascribed to them in the Purchase Agreement. 
 
Employee has considered the effects of this Agreement, consider them reasonable and, in order to induce the
Investors to enter into the Purchase Agreement and to enter into or consent to the transactions contemplated thereby (including without limitation the Employment Agreement between the Employee and the Company dated as of the date hereof (the
“Employment Agreement”), which agreement would otherwise be prohibited by the terms of the Purchase 

Agreement), and in order to obtain the privileges, protections, and benefits of the Employment Agreement, Employee has agreed to enter into
this Agreement. 
 
NOW, THEREFORE, in consideration
of the premises and the mutual covenants and agreements hereinafter set forth, Employee and the Company, intending to be legally bound, hereby agree as follows: 
 
ARTICLE 1 
 
NON-COMPETITION 
 
1.1 Non-Competition. As an inducement for the Investors to enter into the Purchase Agreement and to enter into or consent to the
transactions contemplated thereby, and in order to obtain the privileges, protections, and benefits of the Employment Agreement, Employee agrees that from and after the effective date of the Purchase Agreement (the “Effective Date”)
and until two and one-half (21⁄2) years thereafter (the “Non-Competition Period”); 
 
(a) Employee shall not, anywhere in the United States, engage, without the express prior written consent of the Company, in any business
or activity in direct competition with Company in the then current Field of Interest, whether as an employee, consultant, partner, principal, agent, representative, equity holder or in any other individual, corporate or representative capacity
(without limitation by specific enumeration of the foregoing), or render any services or provide any advice to any business, activity or Person in direct competition with the Company in the then current Field of Interest (a “Competing
Business”). 
 
(b) Employee shall
not, anywhere in Colorado, engage, without the express prior written consent of the Company, in any business or activity in direct competition with the Company in the then current Field of Interest, whether as an employee, consultant, partner,
principal, agent, representative, equity holder or in any other individual, corporate or representative capacity (without limitation by specific enumeration of the foregoing), or render any services or provide any advice to any Competing Business.

 
(c) Employee shall not, in any of the counties
in the State of Colorado, engage, without the express prior written consent of the Company, in any business or activity in direct competition with the Company in the then current Field of Interest, whether as an employee, consultant, partner,
principal, agent, representative, equity holder or in any other individual, corporate or representative capacity (without limitation by specific enumeration of the foregoing), or render any services or provide any advice to any Competing Business.

 
1.2 Limitation on Prohibited Activities.
Notwithstanding anything to the contrary contained in this Agreement, if the Employee’s employment with the Company terminates for any reason prior to the end of the Non-Competition Period, Employee may thereafter engage, without the consent of
the Company, in any business or activity, whether as an employee, consultant, partner, principal, agent, representative, equity holder or in any other individual, corporate or representative capacity (without limitation by specific enumeration of
the foregoing) for a Person that is engaged in the then current Field of Interest at the time of termination of Employee’s employment with the Company, so long as (i) the principal business activity of such Person is not in such Field of
Interest and (ii) Employee does not personally engage or provide 

 

2 

counsel, advice, or direction in any activities that are within such Field of Interest for such Person. For the avoidance of doubt, Employee
may become a senior executive for a Person that is engaged in such Field of Interest and may have employees reporting to him that are engaged in such Field of Interest, so long as Employee does not personally engage directly or directly provide
counsel, advice or direction in any activities that are within such Field of Interest. 
 
1.3 Publicly Traded Securities. Notwithstanding the foregoing, Employee may own, directly or indirectly, up to one percent (1%) of any class of “publicly traded securities” of
any Person which owns or operates a business that is a Competing Business. For the purposes of this Section 1.3, “publicly traded securities” shall mean securities that are traded on a national securities exchange or listed on the
Nasdaq National Market. 
 
1.4 No Interference
with the Business; Non-Solicitation. As an inducement for the Investors to enter into the Purchase Agreement, Employee agrees that, during the Non-Competition Period, Employee shall not for any reason intentionally or knowingly or willfully (a)
with respect to the Business, solicit or divert any business, clients, customers, or partners made known to Employee during his employment with the Company away from the Company, (b) induce customers, clients, partners, suppliers, agents or other
Persons under contract or otherwise associated or doing business with the Company who are made known to Employee during his employment with the Company to reduce or alter any such association or business with the Company, and/or (c) solicit any
Person in the employment of the Company to (i) terminate such employment, and/or (ii) accept employment, or enter into any consulting arrangement, with any Person other than the Company. 
 
ARTICLE 2 
 
REMEDIES 
 
2.1 Remedies. The parties to this Agreement agree that (i) if Employee materially breaches Article 1 of this Agreement, the
damage to the Company may be substantial, although difficult to ascertain, and money damages will not afford the Company an adequate remedy, and (ii) if Employee is in breach of any provision of this Agreement, or threatens a breach of this
Agreement, the Company shall be entitled, in addition to all other rights and remedies as may be provided by law, to seek specific performance and injunctive and other equitable relief from any court of competent jurisdiction to prevent or restrain
a breach of any provision of this Agreement. 
 
ARTICLE 3 
 
TERM AND TERMINATION

 
3.1 Term. This Agreement shall commence
as of the Effective Date, and shall terminate at the end of the Non-Competition Period; provided, that this Agreement shall terminate and be of no force or effect in the event that the transactions contemplated by the Purchase Agreement are not
consummated for any reason. 
 

3 

 
ARTICLE 4

 
MISCELLANEOUS 
 
4.1 Entire Agreement; Amendments and Waivers; Several
Agreements. This Agreement contains the entire agreement of the parties with respect to the subject matter hereof and supersedes all prior agreements, written or oral, with respect thereto. This Agreement may be amended or modified and the terms
and conditions hereof may be waived, only by a written instrument signed by each of the parties or, in the case of waiver, by the party waiving compliance. No delay on the part of either party in exercising any right, power or privilege hereunder
shall operate as a waiver thereof, nor shall any waiver on the part of either party of any right, power or privilege hereunder, nor any single or partial exercise of any right, power or privilege hereunder, preclude any other or further exercise
thereof or the exercise of any other right, power or privilege hereunder. The rights and remedies provided herein are cumulative and are not exclusive of any rights or remedies that either party may otherwise have at law or in equity. In addition to
this Agreement between the Company and Employee, the Company has entered into a similar agreement with other key employees of the Company. It is expressly agreed that this Agreement and the obligations of the parties hereunder are to be construed
separately from any similar agreements with any other employee of the Company and a breach of a similar agreement by any other employee of the Company shall not constitute a breach of this Agreement. No waiver by the Company of any term or condition
of this Agreement with respect to Employee, in any one or more instances, shall be deemed to be or construed as a waiver of the same or any other term or condition of any other agreement with respect to any other employee of the Company or any other
Person. 
 
4.2 Notices. All notices,
requests and other communications hereunder must be in writing and will be deemed to have been duly given only if delivered personally against written receipt or by facsimile transmission against facsimile confirmation or dispatched by nationally
recognized overnight courier prepaid, to the respective parties at the following addresses or facsimile numbers: 
 

	 If to the Company:
	  	 Ribozyme Pharmaceuticals, Inc.
 2950 Wilderness Place
 Boulder, CO 80301
 Attn: General Counsel
 Fax: (303) 449-6995

	
	 If to Employee:
	  	 To the address or facsimile number for notice
 set forth on the last page hereof.

 
All such notices,
requests and other communications will (a) if delivered personally to the address as provided in this section, be deemed given upon delivery, (b) if delivered by facsimile transmission to the facsimile number as provided for in this section, be
deemed given upon facsimile confirmation, and (c) if delivered by overnight courier to the address as provided in this section, be deemed given on the earlier of the first Business Day following the date deposited with such overnight courier with
the requisite payment and instructions to effect delivery on the next business day or upon receipt (in each case regardless of whether such notice, request or 
 

4 

other communication is received by any other Person to whom a copy of such notice is to be delivered pursuant to this section). Any party
from time to time may change its address, facsimile number or other information for the purpose of notices to that party by giving notice specifying such change to the other parties hereto. 
 
4.3 Governing Law. This Agreement shall be governed by
and construed in accordance with the internal laws of the State of Colorado, without giving effect to any choice of law or conflict of law provision or rule (whether of the State of Colorado or any other jurisdiction) that would cause the
application of the laws of any jurisdiction other than the State of Colorado. 
 
4.4 Purchase Agreement. In the event the Purchase Agreement is not consummated or is terminated for any reason (other than a breach of this Agreement) in accordance with its terms, this
Agreement shall be null and void. 
 
4.5
Severability. To the extent any provision of this Agreement shall be determined to be unlawful or otherwise unenforceable, in whole or in part, such determination shall not affect the validity of the remainder of this Agreement, and this
Agreement shall be reformed to the extent necessary to carry out its provisions to the greatest extent possible. In the absence of such reformation, such part of such provision shall be considered deleted from this Agreement and the remainder of
such provision and of this Agreement shall be unaffected and shall continue in full force and effect. In furtherance and not in limitation of the foregoing, should the duration or geographical extent of, or business activities covered by any
provision of this Agreement be in excess of that which is valid and enforceable under applicable law, then such provision shall be construed to cover only that duration, extent or activities which may validly and enforceably be covered. To the
extent any provision of this Agreement shall be declared invalid or unenforceable for any reason by any Governmental Entity in any jurisdiction, this Agreement (or provision thereof) shall remain valid and enforceable in each other jurisdiction
where it applies. Employee acknowledges the uncertainty of the law in this respect and expressly stipulates that this Agreement shall be given the construction which renders its provisions valid and enforceable to the maximum extent (not exceeding
its express terms) possible under applicable law. 
 
4.6 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties hereto, the heirs and legal representatives of Employee and the successors and assigns of the Company. Employee shall not
be entitled to assign his obligations hereunder. The Company may assign its rights under this Agreement to successors and assigns of the Company that succeed to all or substantially all of that portion of the Company’s business to which the
employment of Employee principally relates. Employee agrees that, upon request therefor, Employee will, in writing, acknowledge and consent to any such assignment of this Agreement. 
 
4.7 Representations and Warranties. To Employee’s knowledge, Employee represents and warrants
that this Agreement is a legal, valid and binding obligation, enforceable against Employee in accordance with its terms to the fullest extent permitted under applicable federal, state or local law. 
 
4.8 Effective Time. This Agreement shall become
effective upon the closing of the transaction contemplated by the Purchase Agreement. 
 

5 

 
4.9
Independent Review and Advice. Employee represents and warrants that Employee has carefully read this Agreement; that Employee executes this Agreement with full knowledge of the contents of this Agreement, the legal consequences thereof, and
any and all rights which each party may have with respect to one another; that Employee has had the opportunity to receive independent legal advice with respect to the matters set forth in this Agreement and with respect to the rights and asserted
rights arising out of such matters; that Employee has been advised to, and has had the opportunity to, consult with Employee’s personal attorney prior to entering into this Agreement; and that Employee is entering into this Agreement of
Employee’s own free will. Employee expressly agrees that he or she has no expectations or understandings contrary to the Agreement and no usage of trade or regular practice in the industry shall be used to modify this Agreement. The parties
agree that this Agreement shall not be construed for or against either party in any interpretation thereof. Employee acknowledges that Sills Cummis Radin Tischman Epstein & Gross P.A. and Stroock & Stroock & Lavan LLP represent the
Company and do not represent Employee in connection with this Agreement, the Purchase Agreement, or any of the transactions contemplated thereby or hereby. 
 
IN WITNESS WHEREOF, the parties have executed this Non-Competition and Non-Solicitation Agreement effective as of the date first written
above. 
 

	 COMPANY
	 	 	 	 	 	 EMPLOYEE

	
	 By:
	 	 /s/
JEREMY CURNOCK COOK        

	 	 	 	 	 	 /s/
HOWARD W. ROBIN        

	 	 	 Jeremy Curnock
Cook
Chairman
Ribozyme Pharmaceuticals, Inc.
	 	 	 	 	 	 Howard W. Robin
2210 Meadow Avenue
Boulder, CO 80304

 
 

6

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