Document:

Demerger Implementation Agreement

 Exhibit 10.12 

 

			
	 Waterfront Place
 1 Eagle Street Brisbane QLD 4000
 GPO Box 9925 QLD 4001

Tel (07) 3228 9333
 Fax (07) 3228 9444
 www.corrs.com.au
	 	

 Sydney 
 Melbourne 
 Brisbane 

Perth 
  

 
 Alchemia Limited 

 
  
 Audeo Oncology, Inc. 
  
  

Demerger 
 Implementation 

Agreement 
 Ref: SD/JR
STRA3333-9073263     7358706/4 

  

			
	© Corrs Chambers Westgarth	  	 

 Contents 
  

							
	1	 	 Interpretation
	  	 	2	  
			
		 	 1.1    Definitions
	  	 	2	  
		 	 1.2    Construction
	  	 	7	  
		 	 1.3    Headings
	  	 	9	  
			
	2	 	 Implementation of the Scheme and Demerger
	  	 	9	  
			
	3	 	 Conditions
	  	 	9	  
			
		 	 3.1    Conditions
	  	 	9	  
		 	 3.2    Condition Subsequent
	  	 	10	  
		 	 3.3    Best endeavours
	  	 	10	  
		 	 3.4    Benefit and waiver of certain conditions
	  	 	10	  
		 	 3.5    Regulatory Approvals
	  	 	11	  
		 	 3.6    Notification of certain events
	  	 	11	  
			
	4	 	 Steps for implementation
	  	 	12	  
			
		 	 4.1    Alchemia’s obligations
	  	 	12	  
		 	 4.2    Audeo Oncology’s obligations
	  	 	13	  
		 	 4.3    Execution of Underwriting Agreement
	  	 	14	  
			
	5	 	 Obligations after the Implementation Date
	  	 	14	  
			
		 	 5.1    Alchemia’s obligations
	  	 	14	  
		 	 5.2    Audeo Oncology’s obligations
	  	 	15	  
			
	6	 	 GST
	  	 	15	  
			
		 	 6.1    Construction
	  	 	15	  
		 	 6.2    Consideration GST exclusive
	  	 	15	  
		 	 6.3    Payment of GST
	  	 	15	  
		 	 6.4    Timing of GST payment
	  	 	16	  
		 	 6.5    Tax invoice
	  	 	16	  
		 	 6.6    Adjustment event
	  	 	16	  
		 	 6.7    Reimbursements
	  	 	16	  
		 	 6.8    No merger
	  	 	16	  
			
	7	 	 Notices
	  	 	16	  
			
		 	 7.1    General
	  	 	16	  
		 	 7.2    How to give a communication
	  	 	16	  
		 	 7.3    Particulars for delivery of notices
	  	 	17	  
		 	 7.4    Communications by post
	  	 	17	  
		 	 7.5    Communications by fax
	  	 	17	  
		 	 7.6    After hours communications
	  	 	18	  
		 	 7.7    Process service
	  	 	18	  
			
	8	 	 General
	  	 	18	  
			
		 	 8.1    Duty
	  	 	18	  
		 	 8.2    Legal costs
	  	 	18	  
		 	 8.3    Amendment
	  	 	18	  

  

			
	7358706/4	  	page i

							
		 	 8.4    Waiver and exercise of rights
	  	 	18	  
		 	 8.5    Rights cumulative
	  	 	19	  
		 	 8.6    Consents
	  	 	19	  
		 	 8.7    Further steps
	  	 	19	  
		 	 8.8    Governing law and jurisdiction
	  	 	19	  
		 	 8.9    Assignment
	  	 	19	  
		 	 8.10  Liability
	  	 	19	  
		 	 8.11  Counterparts
	  	 	19	  
		 	 8.12  Entire understanding
	  	 	19	  
		 	 8.13  Relationship of parties
	  	 	20	  
		 	 8.14  No merger
	  	 	20	  
		
	 Schedule – Timetable
	  	 	21	  
		
	 Annexure A—Scheme
	  	 	23	  
		
	 Annexure B – Demerger Deed Poll
	  	 	46	  

  

			
	7358706/4	  	page ii

Date                      
               2012 
 Parties 

Alchemia Limited ACN 071 666 334 of 3 Hi Tech Court, Eight Mile Plains, Brisbane, Queensland, 4113 (Alchemia) 

Audeo Oncology, Inc., a Delaware incorporated company (Audeo Oncology) 

Background 
  

	A	Alchemia intends to: 

  

	 	(a)	undertake a demerger of its Oncology Business which is wholly owned by Audeo Oncology; and 

 

	 	(b)	grant the VAST Licence to a Subsidiary of Audeo Oncology. 

  

	B	The Demerger will be implemented by Alchemia undertaking the Capital Reduction, if the Market Value of Audeo Oncology exceeds the Audeo Oncology Book Value, paying the
Demerger Dividend and implementing the Scheme pursuant to which the Demerger Entitlements of Alchemia Shareholders will be applied by Alchemia as consideration for the issue by Alchemia of Audeo Oncology CDIs to Scheme Shareholders or, if the
shareholders elect, transfer by Alchemia to Scheme Shareholders of Audeo Oncology Shares. 

  

	C	The Scheme is conditional upon, amongst other things, approval by the Court and Alchemia Shareholders. 

 

	D	Implementation of the Scheme, the Capital Reduction and the Demerger Dividend (if any) are all conditional upon satisfaction of the Condition Subsequent.

  

	E	The Capital Reduction is conditional upon, amongst other things, approval by Alchemia Shareholders, and it and the Demerger Dividend (if any) are conditional upon the
Scheme becoming Effective. 

  

	F	Alchemia is the legal and beneficial holder all of Audeo Oncology’s issued share capital. Upon the transfer of the Scheme Consideration pursuant to the Scheme,
Audeo Oncology will cease to be a subsidiary of Alchemia. 

  

	G	Alchemia and Audeo Oncology have agreed to carry into effect the Capital Reduction, the Demerger Dividend (if any) and the Scheme and to do all steps required to
implement the Capital Reduction, the Demerger Dividend (if any) and the Scheme. 

  

			
	7358706/4	  	page 1

 Agreed terms 

 

	1	Interpretation 

  

	1.1	Definitions 

 In this
document: 
 Alchemia Share Register means the share register of members of Alchemia maintained in accordance with the
Corporations Act. 
 Alchemia Share means a fully paid ordinary share in the capital of Alchemia. 

Alchemia Shareholder means a person who is registered as the holder of Alchemia Shares. 

ASIC means the Australian Securities and Investments Commission. 

ASX means ASX Limited ABN 98 008 624 691 or, as the context requires, the financial market operated by it. 

ASX Settlement Operating Rules means the operating rules of the clearing and settlement facility operated by ASX Settlement Pty Ltd
ABN 49 008 504 532. 
 ATO means the Australian Taxation Office. 

Audeo Fundraising and IPO means the initial public offering of Audeo Oncology Shares. 

Audeo Fundraising and IPO Share Price means the price at which Audeo Oncology Shares are issued under the Audeo Fundraising and
IPO. 
 Audeo Oncology Book Value means $54,442,340. 

Audeo Oncology CDI means a CHESS depositary interest to be issued in connection with the Scheme representing an interest in one
corresponding Audeo Oncology Share. 
 Audeo Oncology Share means a fully paid share in the common stock of Audeo Oncology
to be issued in connection with the Scheme. 
 Audeo Oncology Warrants means an option to acquire Audeo Oncology Shares.

 Business Day means a day on which banks are open for business in Brisbane, excluding a Saturday, Sunday or public
holiday and which is a “Business Day” as defined in the Listing Rules. 
 Capital Reduction means a reduction of
the share capital of Alchemia equal to: 
  

	 	(a)	if the Market Value is equal to or greater than the Audeo Oncology Book Value, the Audeo Oncology Book Value; or 

 

	 	(b)	If the Market Value is less than the Audeo Oncology Book value, the Market Value. 

  

			
	7358706/4	  	page 2

 Capital Reduction Amount means the amount of capital on each Alchemia Share that is
to be reduced in accordance with the Capital Reduction Resolution, being the total amount of the Capital Reduction divided by the number of Scheme Shares. 
 Capital Reduction Entitlement means, in relation to each Scheme Shareholder the Capital Reduction Amount multiplied by the number of Scheme Shares held by the Scheme Shareholder. 

Capital Reduction Resolution means the ordinary resolution to approve the reduction of the share capital of Alchemia to be
considered at the General Meeting. 
 CHESS means the clearing house electronic subregister system of share transfers
operated by ASX Settlement Pty Ltd ABN 49 008 504 532. 
 CDN means CHESS Depositary Nominees Pty Limited ABN 75 071 346
506. 
 Completion means when both of the following have occurred: 

 

	 	(a)	an underwriting agreement is executed with Audeo Oncology for an amount, not exceeding US$60 million, expected at the time to be sufficient to complete the pivotal
Phase III clinical trial of HA-Irinotecan for metastatic colorectal cancer and to cover associated working capital requirements; and 

  

	 	(b)	the receipt by Audeo Oncology in cleared funds of the underwritten amount. 

 Conditions means the conditions in clause 3.1 
 Condition
Subsequent means Completion of the Audeo Fundraising and IPO. 
 Corporations Act means the Corporations Act
2001 (Cth). 
 Court means the Federal Court of Australia or any other court of competent jurisdiction under the
Corporations Act. 
 Demerger means the proposal by Alchemia to effect the demerger of Audeo Oncology from Alchemia to be
implemented by way of the Capital Reduction, the Demerger Dividend (if any) and the Scheme in the manner more fully described in the Scheme Booklet. 
 Demerger Deed means the demerger deed dated the same date as this document between Alchemia and Audeo Oncology describing the transitional arrangements and ongoing relationship between Alchemia and
Audeo Oncology. 
 Demerger Deed Poll means a deed poll in the form of annexure B or in such other form as
agreed by Alchemia and Audeo Oncology to be executed by Audeo Oncology in favour of the Investors. 
 Demerger Dividend
means the aggregate of the special dividend (if any) to be paid pursuant to the Demerger Dividend Resolution, which is equal to the amount by which the Market Value exceeds the Audeo Oncology Book Value. 

  

			
	7358706/4	  	page 3

 Demerger Dividend Amount means the amount of the Demerger Dividend (if any) divided
by the number of Scheme Shares. 
 Demerger Dividend Entitlement in relation to each Scheme Shareholder, means the
Demerger Dividend Amount (if any) multiplied by the number of Scheme Shares held by that Scheme Shareholder. 
 Demerger
Dividend Resolution means the resolution by the board of directors of Alchemia to pay a special dividend to Scheme Shareholders if the Market Value is greater than the Audeo Oncology Book Value for an aggregate amount equal to the amount by
which the Market Value exceeds the Audeo Oncology Book Value. 
 Demerger Entitlement means the aggregate of the Capital
Reduction Entitlement and the Demerger Dividend Entitlement (if any). 
 Demerger Tax Relief means relief from any
Australian capital gains tax that may arise from the transfer of shares in Audeo Oncology to Scheme Shareholders and confirmation from the ATO that no part of the Demerger Entitlement will be an assessable dividend. 

End Date means 31 December 2012. 
 Effective means the coming into effect, under section 411(10) of the Corporations Act, of the order of the Court made under section 411(4)(b) in relation to the Scheme. 

Effective Date means the date on which the Scheme becomes Effective. 

Eligible Shareholder means an Alchemia Shareholder as at the Scheme Record Date whose Registered Address on the Alchemia Share
Register is in: 
  

	 	(a)	Australia; 

  

	 	(b)	New Zealand; 

  

	 	(c)	the US; 

  

	 	(d)	the United Kingdom; 

  

	 	(e)	France; 

  

	 	(f)	Germany; 

  

	 	(g)	the Netherlands; 

  

	 	(h)	Switzerland; 

  

	 	(i)	Singapore; 

  

	 	(j)	Hong Kong; or 

  

	 	(k)	any other jurisdiction in which Alchemia reasonably believes that the implementation of the Scheme and the transfer of Audeo Oncology CDIs and Audeo Oncology Shares to
Scheme Shareholders in that jurisdiction is not prohibited, not unduly onerous and not impracticable, 

 unless
Alchemia determines as at the Scheme Record Date that the requirements of any exemption from applicable regulatory requirements in a relevant jurisdiction is not or is no longer available for any particular Alchemia Shareholder, it may determine
that that Alchemia Shareholder is not an Eligible Shareholder. 

  

			
	7358706/4	  	page 4

 First Court Date means the first day of the First Court Hearing or, if the First
Court Hearing is adjourned for any reason, the first day on which the adjourned application is heard. 
 First Court
Hearing means the hearing of the application made to the Court for orders under section 411(1) of the Corporations Act that the Scheme Meeting be convened. 
 General Meeting means the extraordinary general meeting of Alchemia Shareholders convened to consider the Capital Reduction Resolution and to be held immediately following the Scheme Meeting.

 GST has the meaning given to that term in the A New Tax System (Goods & Services Tax) Act 1999 (Cth).

 HA-Irinotecan means a HyACT-targeted version of the chemotherapeutic drug irinotecan. 

HyACT means Hyaluronic Acid Chemotransport Technology. 
 Implementation Date means the date that is one Business Day after Completion of the Audeo Fundraising and IPO or such later date (being a date that is not later than the End Date) as: 

 

	 	(a)	Alchemia and Audeo Oncology may agree; or 

  

	 	(b)	may be required by the ASX. 

Implemented means the completion of all steps in paragraphs 4.1(g)(i) to 4.1(g)(v). 

Independent Expert means BDO Corporate Finance (Qld) Limited ABN 54 010 185 725. 

Independent Expert’s Report means the report in connection with the Scheme to be prepared by the Independent Expert in
accordance with the Corporations Act, and ASIC policy and practice, for inclusion in the Scheme Booklet. 
 Ineligible Foreign
Shareholders means an Alchemia Shareholder who is not an Eligible Shareholder. 
 Intra-group Transfer Agreement has
the meaning given to that term in the Demerger Deed. 
 Investors means the persons and entities who have a right to
receive Audeo Oncology Warrants as set out in schedule 2 of the Demerger Deed Poll. 
 Listing Rules means the official
listing rules of ASX. 
 Market Value means the amount which is the Audeo Fundraising and IPO Share Price multiplied by
the number of Audeo Oncology Shares issued to Scheme Shareholders under the Scheme. 

  

			
	7358706/4	  	page 5

 NASDAQ means the NASDAQ Stock Market. 

Official List means the official list of the ASX. 
 Oncology Business has the meaning given to that term in the Demerger Deed. 

Registered Address means, in relation to an Alchemia Shareholder, the address shown in the Alchemia Share Register as at the Scheme
Record Date. 
 Regulatory Approval means: 

 

	 	(a)	any approval, consent, authorisation, registration, filing, lodgement, permit, franchise, agreement, notarisation, certificate, permission, licence, approval,
direction, declaration, authority or exemption from, by or with a Regulatory Authority; or 

  

	 	(b)	in relation to anything that would be fully or partly prohibited or restricted by law if a Regulatory Authority intervened or acted in any way within a specified period
after lodgement, filing, registration or notification, the expiry of that period without intervention or action. 

Regulatory Authority means any Australian or foreign government or governmental, semi-governmental, administrative, fiscal,
regulatory or judicial entity, commission, tribunal agency or authority or any Minister, department, office or delegate of any government. It includes a self-regulatory organisation established under statute or a stock exchange, ASIC, ASX, SEC,
NASDAQ and the Australian Competition and Consumer Commission. 
 Sale Facility Agent means the entity who will be
appointed to sell or facilitate the issue or transfer of the Audeo Oncology CDIs or Audeo Oncology Shares on behalf of the Ineligible Foreign Shareholders. 
 Scheme means the members’ scheme of arrangement under Part 5.1 of the Corporations Act between Alchemia and the Scheme Shareholders relating to the Demerger in the form of annexure A,
together with any alterations or conditions made or required in accordance with section 411(6) of the Corporations Act and agreed or consented to by Alchemia and Audeo Oncology. 

Scheme Booklet means the information to be dispatched to Alchemia Shareholders and approved by the Court, including the Scheme,
explanatory statement in relation to the Scheme issued pursuant to section 412 of the Corporations Act and registered with ASIC, the Independent Expert’s Report, the Demerger Deed Poll, a summary of this document and the notices convening
the General Meeting and the Scheme Meeting (together with, in each case, proxy forms). 
 Scheme Consideration means in
respect of every 37 Scheme Shares held by a Scheme Shareholder, one Audeo Oncology CDI or (if the Scheme Shareholder elects), one Audeo Oncology Share or such other number of Audeo Oncology Shares or Audeo Oncology CDIs as agreed between Alchemia
and Audeo Oncology. 

  

			
	7358706/4	  	page 6

 Scheme Meeting means the meeting of Alchemia Shareholders to be convened by the Court
in relation to the Scheme in accordance with section 411(1) of the Corporations Act. 
 Scheme Order means the order
of the Court made for the purposes of section 411(4)(b) of the Corporations Act in relation to the Scheme. 
 Scheme
Record Date means date notified by Alchemia to ASX which will be after the Effective Date and five Trading Days after the last trading day for Alchemia Shares to trade with an entitlement to the Demerger Entitlement. 

Scheme Resolution means the resolution to approve the Scheme to be considered by Alchemia Shareholders at the Scheme Meeting set
out in the notice convening the Scheme Meeting contained in annexure F of the Scheme Booklet. 
 Scheme Shareholder means
a person registered in the Alchemia Share Register as the holder of Scheme Shares on the Scheme Record Date. 
 Scheme
Share means each Alchemia Share on issue as at the Scheme Record Date. 
 SEC means the Securities Exchange Commission
of the United States of America. 
 Second Court Date means the first day of the Second Court Hearing or, if the Second
Court Hearing is adjourned for any reason, the first day on which the adjourned application is heard. 
 Second Court
Hearing means the hearing of the application made to the Court for the Scheme Order. 
 Subsidiary has the meaning
given to that term in the Corporations Act. 
 Timetable means the indicative timetable set out in the schedule or
such other timetable as may be agreed in writing by the parties. 
 Trading Day has the meaning given in the Listing
Rules. 
 Transaction Documents has the meaning given to that term in the Demerger Deed. 

Transition Services Agreement has the meaning given to that term in the Demerger Deed. 

Underwriting Agreement means the underwriting agreement between Audeo Oncology and the underwriters referred to in the definition
of Completion. 
 VAST Licence has the meaning given to that term in the Demerger Deed. 

 

	1.2	Construction 

 Unless
expressed to the contrary, in this document: 
  

	 	(a)	words in the singular include the plural and vice versa; 

  

	 	(b)	any gender includes the other genders; 

  

			
	7358706/4	  	page 7

	 	(c)	if a word or phrase is defined its other grammatical forms have corresponding meanings; 

 

	 	(d)	“includes” means includes without limitation; 

  

	 	(e)	no rule of construction will apply to a clause to the disadvantage of a party merely because that party put forward the clause or would otherwise benefit from it;

  

	 	(f)	words and phrases have the same meaning (if any) given to them in the Corporations Act; 

 

	 	(g)	a reference to: 

  

	 	(i)	a holder includes a joint holder; 

  

	 	(ii)	a person includes a partnership, joint venture, unincorporated association, corporation and a government or statutory body or authority; 

 

	 	(iii)	a person includes the person’s legal personal representatives, successors, assigns and persons substituted by novation; 

 

	 	(iv)	any legislation includes subordinate legislation under it and includes that legislation and subordinate legislation as modified or replaced; 

 

	 	(v)	an obligation includes a warranty or representation and a reference to a failure to comply with an obligation includes a breach of warranty or representation;

  

	 	(vi)	a right includes a benefit, remedy, discretion or power; 

  

	 	(vii)	time is to local time in Brisbane, Queensland; 

  

	 	(viii)	“$” or “dollars” is a reference to Australian currency; 

 

	 	(ix)	this or any other document includes the document as novated, varied or replaced and despite any change in the identity of the parties; 

 

	 	(x)	writing includes any mode of representing or reproducing words in tangible and permanently visible form, and includes fax transmissions; 

 

	 	(xi)	this document includes all schedules and annexures to it; and 

  

	 	(xii)	a clause, schedule or annexure is a reference to a clause, schedule or annexure, as the case may be, of this document; 

 

	 	(h)	if the date on or by which any act must be done under this document is not a Business Day, the act must be done on or by the next Business Day; and

  

	 	(i)	where time is to be calculated by reference to a day or event, that day or the day of that event is excluded. 

  

			
	7358706/4	  	page 8

	1.3	Headings 

 Headings do not
affect the interpretation of this document. 
  

	2	Implementation of the Scheme and Demerger 

  

	 	(a)	Alchemia and Audeo Oncology agree to take all steps reasonably required to give effect to the Demerger in accordance with the Timetable including the steps set out in
this document. 

  

	 	(b)	If the Effective Date has not occurred by the End Date, the parties will discuss in good faith and, if appropriate, agree a revised Timetable and revised dates for
other dates referred to in this document. 

  

	 	(c)	If the Implementation Date has not occurred by the End Date, the Scheme will cease to be effective and this document will automatically terminate.

  

	3	Conditions 

  

	3.1	Conditions 

 The Scheme
will not become Effective unless each of the following Conditions are satisfied or waived in accordance with clause 3.4: 
  

	 	(a)	(ASIC and ASX) before 8.00 am on the Second Court Date, ASIC and the ASX issue or provide such consents, approvals or waivers or do such other acts which
Alchemia determines are necessary or desirable to implement the Demerger and such acts are not withdrawn, including in the case of ASIC, providing the statement required under section 411(17)(b) of the Corporations Act.

  

	 	(b)	(Independent Expert Report) the Independent Expert issues its report which concludes that the Scheme is in the best interests of Scheme Shareholders before the
date on which the Scheme Booklet is registered by ASIC under the Corporations Act and the Independent Expert does not change its conclusions or withdraw its report prior to 8.00 am on the Second Court Date. 

 

	 	(c)	(Alchemia Shareholder approval—Scheme) Alchemia Shareholders approve the Scheme by the necessary majorities at the Scheme Meeting (or any adjournment or
postponement of the Scheme Meeting). 

  

	 	(d)	(Alchemia Shareholder approval – Capital Reduction) Alchemia Shareholders approve the Capital Reduction by the necessary majority under the Corporations Act
and the constitution of Alchemia before the Second Court Date. 

  

	 	(e)	(Court approval of Scheme) the Court approves the Scheme under section 411(4)(b) of the Corporations Act and an office copy of the Scheme Order is lodged
with ASIC as contemplated by section 411(10) of the Corporations Act. 

  

			
	7358706/4	  	page 9

	 	(f)	(No restraint) no temporary restraining order, preliminary or permanent injunction or other order is issued by a court of competent jurisdiction or other legal
restraint or prohibition preventing the Demerger is in effect at 8.00 am on the Second Court Date. 

  

	 	(g)	(CDN): before 8.00 am on the Second Court Date, Audeo Oncology has appointed CDN and CDN has agreed to the transfer to it of Audeo Oncology Shares under the
Scheme; 

  

	 	(h)	(Sale Facility Agent) before 8.00 am on the Second Court Date, Audeo Oncology has appointed a Sale Facility Agent and the Sale Facility Agent has agreed to sell
the Audeo Oncology CDIs and Audeo Oncology Shares (as relevant); 

  

	 	(i)	(Ability to issue Audeo Oncology CDIs) before 8.00 am on the Second Court Date, Audeo Oncology has done everything necessary under the ASX Settlement Operating
Rules to enable it to issue Audeo Oncology CDls other than the transfer to CDN of Audeo Oncology Shares under the Scheme; and 

  

	 	(j)	(Demerger Tax relief) before 8.00 am on the Second Court Date, Alchemia obtaining Demerger Tax Relief. 

 

	3.2	Condition Subsequent 

 The
Scheme will not be Implemented unless the Condition Subsequent is satisfied by the End Date. 
  

	3.3	Best endeavours 

 Alchemia
and Audeo Oncology must use their best endeavours to procure that the: 
  

	 	(a)	Conditions are satisfied as soon as practicable after the date of this document; and 

 

	 	(b)	Condition Subsequent is satisfied as soon as practicable after the Effective Date. 

 

	3.4	Benefit and waiver of certain conditions 

  

	 	(a)	Each of the conditions in clauses 3.1(a), 3.1(b) and 3.1(f) is for the benefit of Alchemia, and any breach or non-fulfilment of those conditions
can only be waived with the written consent of Alchemia. 

  

	 	(b)	The conditions in clauses 3.1(c), 3.1(d), 3.1(e), 3.1(g), 3.1(h), 3.1(i), 3.1(j) and 3.2 cannot be waived by either
party. 

  

	 	(c)	If a waiver by a party of a Condition Precedent is itself conditional and the other party accepts the condition, the terms of that condition apply accordingly. If the
other party does not accept a conditional waiver of the Condition Precedent, the Condition Precedent has not been waived. 

  

	 	(d)	If a party waives the breach or non-fulfilment of any of the Conditions or the Condition Subsequent that waiver will not preclude it from taking action against the
other party for any breach of this document, including a breach that resulted in the non-fulfilment of the Condition Precedent that was waived. 

  

			
	7358706/4	  	page 10

	 	(e)	Unless specified in the waiver, a waiver of the breach or non-fulfilment of any Condition Precedent will not constitute: 

 

	 	(i)	a waiver of breach or non-fulfilment of any other Condition Precedent resulting from events or circumstances giving rise to the breach or non-fulfilment of the first
Condition Precedent; or 

  

	 	(ii)	a waiver of breach or non-fulfilment of that Condition Precedent resulting from any other event or circumstance. 

 

	3.5	Regulatory Approvals 

Without limiting the generality of clause 3.3: 

 

	 	(a)	each party must promptly apply for all relevant Regulatory Approvals, providing a copy to the other party of all such applications, and take all steps it is responsible
for as part of the approval process for the Scheme, including responding to requests for information at the earliest practicable time; and 

  

	 	(b)	each party must use best endeavours to consult with the other in advance in relation to all material communications with any Regulatory Authority relating to any
Regulatory Approval and provide the other party with all information reasonably requested in connection with the application for any Regulatory Authority. 

  

	3.6	Notification of certain events 

  

	 	(a)	Each party must: 

  

	 	(i)	(keep informed) promptly and reasonably inform the other either directly or through its legal advisers of the steps it has taken and of its progress towards
satisfaction of the Conditions and the Condition Subsequent; 

  

	 	(ii)	(notice of satisfaction) promptly notify the other if it becomes aware that any Condition has been satisfied; 

 

	 	(iii)	(notice of failure) promptly notify the other if it becomes aware that any Condition has failed to be satisfied or has become incapable of being satisfied or is
not reasonably capable of being satisfied or of any circumstances which may reasonably be expected to lead to such a state of affairs; and 

  

	 	(iv)	(notice of waiver) after having given or received a notice in accordance with clause 3.6(a)(iii) in relation to a Condition Precedent that it is
entitled under clause 3.4 to waive, give notice to the other party as soon as possible (and in any event no later than five Business Days or such shorter time to ensure that notice is given before 5.00 pm on the last Business Day before
the Second Court Date) as to whether or not it waives the breach or non-fulfilment of the relevant Condition Precedent, specifying the Condition Precedent in question. 

  

			
	7358706/4	  	page 11

	 	(b)	Subject to the satisfaction or waiver of the Conditions, Alchemia and Audeo Oncology must each provide the Court on the Second Court Date with a certificate that all of
the Conditions (other than the Condition 3.1(e)) are satisfied, or if not satisfied, are waived. 

  

	 	(c)	The giving of a certificate by each of Alchemia and Audeo Oncology under clause 3.6(b) will in the absence of manifest error, be conclusive evidence of the
satisfaction or waiver of the Conditions referred to in the certificate. 

  

	4	Steps for implementation 

  

	4.1	Alchemia’s obligations 

 Alchemia must execute all documents and do all acts and things within its power as may be necessary or desirable for the implementation and performance of the Scheme on a basis consistent with this
document, in accordance with the Timetable, and in particular Alchemia must: 
  

	 	(a)	(Scheme Booklet) promptly prepare and, subject to approval by the Court, despatch the Scheme Booklet to the Alchemia Shareholders. Alchemia will prepare the
Scheme Booklet in good faith to attempt to ensure that the Scheme Booklet complies with the requirements of: 

  

	 	(i)	the Corporations Act and the Corporations Regulations 2001 (Cth); 

  

	 	(ii)	ASIC policy; and 

  

	 	(iii)	the Listing Rules; 

  

	 	(b)	(Independent Expert) promptly appoint the Independent Expert (and any other specialist expert required) and provide all assistance and information reasonably
requested by the Independent Expert (and any other specialist expert) in connection with the preparation of the necessary report(s) for inclusion in the Scheme Booklet; 

 

	 	(c)	(General Meeting) promptly take all steps necessary to convene the General Meeting in accordance with Alchemia’s constitution including, as required,
despatching the Scheme Booklet to the Alchemia Shareholders and holding the General Meeting; 

  

	 	(d)	(Scheme Meeting) promptly: 

  

	 	(i)	apply to the Court for an order under section 411(1) of the Corporations Act directing Alchemia to convene the Scheme Meeting; and 

 

	 	(ii)	take all steps necessary to comply with the orders of the Court including, as required, despatching the Scheme Booklet to the Alchemia Shareholders and holding the
Scheme Meeting; 

  

			
	7358706/4	  	page 12

	 	(e)	(registration of explanatory statement) request ASIC to register the explanatory statement included in the Scheme Booklet in relation to the Scheme in accordance
with section 412(6) of the Corporations Act; 

  

	 	(f)	(approval and implementation of Scheme) if the Scheme Resolution and the Capital Reduction Resolution are passed by the necessary majorities and once the
Conditions (other than Condition 3.1(e)) are satisfied, promptly apply (and, to the extent necessary, re-apply) to the Court for orders approving the Scheme and if that approval is obtained promptly lodge with ASIC an office copy of the
Scheme Order in accordance with section 411(10) of the Corporations Act; 

  

	 	(g)	(Capital Reduction, Demerger Dividend (if any) and transfer) if the Scheme becomes Effective and the Condition Subsequent is satisfied: 

 

	 	(i)	close the Alchemia Share Register as at the Scheme Record Date and determine the Capital Reduction Entitlement and Demerger Dividend Entitlement (if any) of each Scheme
Shareholder; 

  

	 	(ii)	on or prior to the Implementation Date, if the Market Value is greater than the Audeo Oncology Book Value, ensure the board of directors of Alchemia passes the Demerger
Dividend Resolution; 

  

	 	(iii)	on the Implementation Date, reduce the capital of each Scheme Share by the Capital Reduction Amount in accordance with the Capital Reduction Resolution;

  

	 	(iv)	on the Implementation Date, pay the Demerger Dividend (if any) which will be applied in accordance with clause 4.1(g)(v); and 

 

	 	(v)	on the Implementation Date, Alchemia must apply the Demerger Entitlement of each Scheme Shareholder as consideration for the transfer by Alchemia to that Scheme
Shareholder (or to the Sale Facility Agent as nominee for and on behalf of any Ineligible Foreign Shareholders) of the Scheme Consideration in accordance with the Scheme. 

 

	4.2	Audeo Oncology’s obligations 

 Audeo Oncology must execute all documents and do all acts and things within its power as may be necessary or desirable for the implementation and performance of the Scheme on a basis consistent with this
document, in accordance with the Timetable, and in particular Audeo Oncology must: 
  

	 	(a)	(Demerger Deed Poll) prior to the First Court Date, execute the Demerger Deed Poll; 

 

	 	(b)	(application for listing of Audeo Oncology on NASDAQ) as soon as practicable after the date of this document: 

 

	 	(i)	apply to NASDAQ for admission of Audeo Oncology to NASDAQ; 

  

	 	(ii)	prepare and file a registration statement for Audeo Oncology in accordance with SEC rules and regulations; 

 

	 	(iii)	use its best endeavours to ensure that: 

  

			
	7358706/4	  	page 13

	 	(A)	the SEC grants an order of effectiveness for the registration statement; and 

 

	 	(B)	trading in Audeo Oncology Shares (on a normal settlement basis) commences on NASDAQ prior to the Implementation Date; 

 

	 	(c)	(application for secondary listing of Audeo Oncology on ASX) prior to the Implementation Date: 

 

	 	(i)	apply to ASX for admission of Audeo Oncology to the Official List; 

  

	 	(ii)	prepare a listing memorandum for Audeo Oncology in accordance with the Listing Rules, as waived where necessary; 

 

	 	(iii)	use its best endeavours to ensure that: 

  

	 	(A)	ASX grants approval to the application for Audeo Oncology’s admission to the Official List; and 

 

	 	(B)	trading in Audeo Oncology CDIs (on a normal settlement basis) commences on ASX as soon as possible following the Implementation Date; 

 

	 	(d)	(issue of CDIs) do all things necessary under the ASX Settlement Operating Rules to enable the Audeo Oncology CDIs to be issued; 

 

	 	(e)	(issue of Audeo Oncology Shares) do all things necessary to enable the Audeo Oncology Shares to be issued; 

 

	 	(f)	(execution of Underwriting Agreement) if the Scheme becomes Effective, and only if agreed to by Alchemia, execute the Underwriting Agreement;

  

	 	(g)	(Completion) if the Underwriting Agreement is executed, use its best endeavours to ensure the Condition Subsequent is satisfied by the End Date; and

  

	 	(h)	(Scheme Consideration and registration) if the Scheme becomes Effective and the Condition Subsequent is satisfied, Audeo Oncology must, on the Implementation
Date, register the transfer of the Scheme Consideration referred to in clause 4.1(g)(v) in accordance with the Scheme and the Demerger Deed Poll. 

 

	4.3	Execution of Underwriting Agreement 

 Audeo Oncology will not execute, vary or terminate the Underwriting Agreement without the prior written consent of Alchemia. 

 

	5	Obligations after the Implementation Date 

  

	5.1	Alchemia’s obligations 

 After the Implementation Date, Alchemia must: 
  

	 	(a)	 (sale of entitlements) if a Scheme Shareholder is an Ineligible Foreign Shareholder for the purposes of the transfer of the Scheme

  

			
	7358706/4	  	page 14

 
Consideration, within 20 Business Days after the Implementation Date sell or procure the sale of the Audeo Oncology CDIs or Audeo Oncology Shares to which that Ineligible Foreign Shareholder is
entitled under the Scheme and remit the proceeds of sale to the Ineligible Foreign Shareholder in the manner described in the Scheme; and 
  

	 	(b)	(Alchemia’s independence) use its best endeavours to transition away from using Audeo Oncology’s services under the Transition Services Agreement.

  

	5.2	Audeo Oncology’s obligations 

 After the Implementation Date, Audeo Oncology must: 
  

	 	(a)	send, or cause to be sent, in the case of Audeo Oncology Shares, transaction confirmations and in the case of Audeo Oncology CDIs, holding statements, in respect of the
Scheme Consideration transferred under the Scheme, within the time required by US securities laws or the ASX Settlement Operating Rules (as appropriate); and 

 

	 	(b)	issue Audeo Oncology Warrants in accordance with the terms of the Intra-group Transfer Agreement. 

 

	6	GST 

  

	6.1	Construction 

 In this
clause 6: 
  

	 	(a)	words and expressions which are not defined in this document but which have a defined meaning in GST Law have the same meaning as in the GST Law;

  

	 	(b)	GST Law has the same meaning given to that expression in the A New Tax System (Goods and Services Tax) Act 1999; and 

 

	 	(c)	references to GST payable and input tax credit entitlement include GST payable by, and the input tax credit entitlement of, the representative member for a GST group of
which the entity is a member. 

  

	6.2	Consideration GST exclusive 

 Unless otherwise expressly stated, all prices or other sums payable or consideration to be provided under this document are exclusive of GST. 

 

	6.3	Payment of GST 

 If GST is
payable on any supply made by a party (or any entity through which that party acts) (Supplier) under or in connection with this document, the recipient will pay to the Supplier an amount equal to the GST payable on the supply. 

  

			
	7358706/4	  	page 15

	6.4	Timing of GST payment 

The recipient will pay the amount referred to in clause 6.3 in addition to and at the same time that the consideration for the
supply is to be provided under this document. 
  

	6.5	Tax invoice 

 The Supplier
must deliver a tax invoice or an adjustment note to the recipient before the Supplier is entitled to payment of an amount under clause 6.3. The recipient can withhold payment of the amount until the Supplier provides a tax invoice or an
adjustment note, as appropriate. 
  

	6.6	Adjustment event 

 If an
adjustment event arises in respect of a taxable supply made by a Supplier under this document, the amount payable by the recipient under clause 6.3 will be recalculated to reflect the adjustment event and a payment will be made by the
recipient to the Supplier or by the Supplier to the recipient as the case requires. 
  

	6.7	Reimbursements 

 Where a
party is required under this document to pay or reimburse an expense or outgoing of another party, the amount to be paid or reimbursed by the first party will be the sum of: 

 

	 	(a)	the amount of the expense or outgoing less any input tax credits in respect of the expense or outgoing to which the other party is entitled; and

  

	 	(b)	if the payment or reimbursement is subject to GST, an amount equal to that GST. 

 

	6.8	No merger 

 This
clause 6 does not merge in the completion or termination of this document or on the transfer of the property supplied under this document. 
  

	7	Notices 

  

	7.1	General 

 A notice,
demand, certification, process or other communication relating to this document must be in writing in English and may be given by an agent of the sender. 
  

	7.2	How to give a communication 

 In addition to any other lawful means, a communication may be given by being: 
  

	 	(a)	personally delivered; 

  

	 	(b)	left at the party’s current delivery address for notices; 

  

	 	(c)	sent to the party’s current postal address for notices by pre-paid ordinary mail or, if the address is outside Australia, 

by pre-paid airmail; or 

  

			
	7358706/4	  	page 16

	 	(d)	sent by fax to the party’s current fax number for notices. 

 The parties will use all reasonable endeavours to provide a copy of any communication provided under this clause by email to the email address of the other party set out in clause 7.3. To
avoid doubt, such email communication is provided as support for the official communication provided in accordance with paragraphs (a) to (d) of this clause and does not supersede or replace any obligation on a party to
provide that communication in accordance with paragraphs (a) to (d) of this clause or derogate from the other provisions of this clause 7. 

 

	7.3	Particulars for delivery of notices 

  

	 	(a)	The particulars for delivery of notices are initially: 

  

			
	Alchemia	 	
		
	Delivery address:	 	3 Hi Tech Court, Eight Mile Plains, Brisbane, Queensland 4113
		
	Postal address:	 	3 Hi Tech Court, Eight Mile Plains, Brisbane, Queensland 4113
		
	Fax:	 	+61 7 3340 0222
		
	Attention:	 	Tracie Ramsdale
		
	Audeo Oncology	 	
		
	Delivery address:	 	3 Hi Tech Court, Eight Mile Plains, Brisbane, Queensland 4113
		
	Postal address:	 	3 Hi Tech Court, Eight Mile Plains, Brisbane, Queensland 4113
		
	Fax:	 	+61 7 3340 0222
		
	Attention:	 	Charles Walker

  

	 	(b)	Each party may change its particulars for delivery of notices by notice to each other party. 

 

	7.4	Communications by post 

Subject to clause 7.6, a communication is given if posted: 

 

	 	(a)	within Australia to an Australian postal address, three Business Days after posting; or 

 

	 	(b)	outside of Australia to an Australian postal address or within Australia to an address outside of Australia, ten Business Days after posting. 

 

	7.5	Communications by fax 

Subject to clause 7.6, a communication is given if sent by fax, when the sender’s fax machine produces a report that the
fax was sent in full to the addressee. That report is conclusive evidence that the addressee received the fax in full at the time indicated on that report. 

  

			
	7358706/4	  	page 17

	7.6	After hours communications 

If a communication is given: 
  

	 	(a)	after 5.00 pm in the place of receipt; or 

  

	 	(b)	on a day which is a Saturday, Sunday or bank or public holiday in the place of receipt, 

it is taken as having been given at 9.00 am on the next day which is not a Saturday, Sunday or bank or public holiday in that place.

  

	7.7	Process service 

 Any
process or other document relating to litigation, administrative or arbitral proceedings relating to this document may be served by any method contemplated by this clause 7 or in accordance with any applicable law. 

 

	8	General 

  

	8.1	Duty 

  

	 	(a)	Alchemia as between the parties is liable for and must pay all duty (including any fine, interest or penalty except where it arises from default by the other party) on
or relating to this document, the Scheme, the Demerger Deed Poll, any document executed under any of these, or any dutiable transaction evidenced or effected by any of these. 

 

	 	(b)	If a party other than Alchemia pays any duty (including any fine, interest or penalty) on or relating to this document, the Scheme, the Demerger Deed Poll, any document
executed under any of these, or any dutiable transaction evidenced or effected by any of these, Alchemia must pay that amount to the paying party on demand. 

 

	8.2	Legal costs 

  

	 	(a)	Subject to clause 8.1, Alchemia must bear the costs and expenses in respect of the negotiation, preparation, execution of this document and any other agreement
or document entered into or signed under this document. 

  

	 	(b)	Any action to be taken by a party in performing its obligations under this document must be taken at its own cost and expense unless otherwise expressly provided in
this document. 

  

	8.3	Amendment 

 This document
may only be varied or replaced by a document executed by the parties. 
  

	8.4	Waiver and exercise of rights 

  

	 	(a)	A single or partial exercise or waiver by a party of a right relating to this document does not prevent any other exercise of that right or the exercise of any other
right. 

  

			
	7358706/4	  	page 18

	 	(b)	A party is not liable for any loss, cost or expense of any other party caused or contributed to by the waiver, exercise, attempted exercise, failure to exercise or
delay in the exercise of a right. 

  

	8.5	Rights cumulative 

 Except
as expressly stated otherwise in this document, the rights of a party under this document are cumulative and are in addition to any other rights of that party. 
  

	8.6	Consents 

 Except as
expressly stated otherwise in this document, a party may conditionally or unconditionally give or withhold any consent to be given under this document and is not obliged to give its reasons for doing so. 

 

	8.7	Further steps 

 Each party
must promptly do whatever any other party reasonably requires of it to give effect to this document and to perform its obligations under it. 
  

	8.8	Governing law and jurisdiction 

  

	 	(a)	This document is governed by and is to be construed in accordance with the laws applicable in Queensland. 

 

	 	(b)	Each party irrevocably and unconditionally submits to the non-exclusive jurisdiction of the courts exercising jurisdiction in Queensland and any courts which have
jurisdiction to hear appeals from any of those courts and waives any right to object to any proceedings being brought in those courts. 

  

	8.9	Assignment 

  

	 	(a)	A party must not assign or deal with any right under this document without the prior written consent of the other parties. 

 

	 	(b)	Any purported dealing in breach of this clause is of no effect. 

  

	8.10	Liability 

 An obligation
of two or more persons binds them separately and together. 
  

	8.11	Counterparts 

 This
document may consist of a number of counterparts and, if so, the counterparts taken together constitute one document. 
  

	8.12	Entire understanding 

  

	 	(a)	The Transaction Documents contain the entire understanding between the parties as to the subject matter of the Transaction Documents. 

 

	 	(b)	All previous negotiations, understandings, representations, warranties, memoranda or commitments concerning the subject matter of the Transaction Documents are merged
in and superseded by the Transaction Documents and are of no effect. No party is liable to any other party in respect of those matters. 

  

			
	7358706/4	  	page 19

	 	(c)	No oral explanation or information provided by any party to another: 

  

	 	(i)	affects the meaning or interpretation of this document; or 

  

	 	(ii)	constitutes any collateral agreement, warranty or understanding between any of the parties. 

 

	8.13	Relationship of parties 

This document is not intended to create a partnership, joint venture or agency relationship between the parties. 

 

	8.14	No merger 

 The rights and
obligations of the parties will not merge on the completion of any transaction contemplated by this document. They will survive the execution and delivery of any assignment or other document entered into for the purpose of implementing a
transaction. 

  

			
	7358706/4	  	page 20

 Schedule 
 Timetable 
  

			
	Action	  	Date
	 Draft Scheme Booklet lodged with ASIC
	  	21 August 2012
	 Deed Poll executed by Audeo Oncology
	  	21 August 2012
	 First Court Date
	  	24 August 2012
	 Scheme Booklet dispatched to Alchemia Shareholders
	  	3 September 2012
	 Scheme Meeting
	  	5 October 2012
	 Second Court Date
	  	9 October 2012
	 Effective Date: office copy of Court order approving the Scheme lodged with ASIC
	  	10 October 2012
	 Record Date
	  	Trading Day 4
	 Implementation Date
	  	Trading Day 5

  

			
	7358706/4	  	page 21

 Executed as an agreement. 

 

					
	 Executed by Alchemia Limited
	 	 )                

)
 )
	  	
	/s/ Stephen Denaro	 		  	 /s/ Tracie Ramsdale

	 Company Secretary
	 		  	Director
			
	Stephen Denaro	 		  	 Tracie Ramsdale

	 Name of Company Secretary/Director (print)
	 		  	 Name of Director (print)

		 		  	

  

	
	Executed by Audeo Oncology, Inc.
	
	/s/ Charles Walker
	 Signature

	
	 Charles Walker

	 by (print name)

	
	 Chief Financial Officer

	 its (print title)

  

			
	7358706/4	  	page 22

 Annexure A 
 Scheme 

  

			
	7358706/4	  	page 23

  

Alchemia Limited 
  

 
 The holders of ordinary shares in Alchemia Limited

  
  
 Scheme of arrangement 
 Pursuant to section 411 of the Corporations Act 

  

			
	7358706/4	  	page 24

 Contents 
  

					
	 1       Interpretation
	  	 	27	  
		
	 1.1        Definitions
	  	 	27	  
	 1.2        Construction
	  	 	32	  
	 1.3        Headings
	  	 	33	  
		
	 2       Preliminary
	  	 	33	  
		
	 2.1        Alchemia
	  	 	33	  
	 2.2        Audeo Oncology
	  	 	33	  
	 2.3        Summary of the Scheme
	  	 	34	  
	 2.4        Demerger Implementation Agreement
	  	 	34	  
	 2.5        Demerger Deed Poll
	  	 	34	  
		
	 3       Conditions
	  	 	35	  
		
	 3.1        Conditions of Scheme
	  	 	35	  
	 3.2        Conditions Subsequent
	  	 	36	  
	 3.3        Waiver of condition
	  	 	36	  
	 3.4        Certificate
	  	 	36	  
	 3.5        Conclusive evidence
	  	 	36	  
	 3.6        Termination of Demerger Implementation Agreement
	  	 	36	  
	 3.7        Effective Date
	  	 	37	  
		
	 4       Scheme
	  	 	37	  
		
	 4.1        Issue of Audeo Oncology Shares to Alchemia
	  	 	37	  
	 4.2        Demerger Dividend Resolution
	  	 	37	  
	 4.3        Capital Reduction and Demerger Dividend (if any)
	  	 	37	  
	 4.4        Entitlements of Scheme Shareholders
	  	 	37	  
	 4.5        Election
	  	 	38	  
	 4.6        Transfer of Audeo Oncology Shares and issue of Audeo Oncology
CDIs
	  	 	38	  
	 4.7        Dispatch of holding statements and transaction confirmations
	  	 	39	  
	 4.8        Enforcement of Demerger Deed Poll
	  	 	39	  
	 4.9        Ineligible Foreign Shareholders
	  	 	40	  
	 4.10      Joint holders
	  	 	41	  
	 4.11      Fractional entitlements
	  	 	42	  
		
	 5       Scheme Shareholders
	  	 	42	  
		
	 5.1        Appointment of Alchemia as sole attorney and agent
	  	 	42	  
	 5.2        Scheme Shareholder’s consent
	  	 	42	  
		
	 6       Dealings in Alchemia Shares
	  	 	43	  
		
	 6.1        Alchemia Share Register
	  	 	43	  
	 6.2        Determination of Scheme Shareholders
	  	 	43	  
		
	 7       Notices
	  	 	44	  
		
	 7.1        General
	  	 	44	  
	 7.2        Communications by post
	  	 	44	  
	 7.3        Communications by fax
	  	 	44	  
	 7.4        After hours communications
	  	 	44	  

  

			
	7358706/4	  	page 25

					
	 8       General
	  	 	44	  
		
	 8.1        Alchemia and Scheme Shareholders bound
	  	 	44	  
	 8.2        Further assurances
	  	 	44	  
	 8.3        Alterations and conditions
	  	 	44	  
	 8.4        Costs
	  	 	45	  
	 8.5        Governing law and jurisdiction
	  	 	45	  

  

			
	7358706/4	  	page 26

 Parties 
 Alchemia Limited ACN 071 666 334 of 3 Hi Tech Court, Eight Mile Plains, Brisbane, Queensland 4113 (Alchemia) 
 The holders of ordinary shares in Alchemia Limited as at the Scheme Record Date 
 Agreed terms 
  

	1	Interpretation 

  

	1.1	Definitions 

 In this
document: 
 Alchemia Option means an option to acquire Alchemia Shares under the Alchemia Option Plan. 

Alchemia Option Plan means the Alchemia Limited Employee Share Option Plan as amended and approved by Alchemia Shareholders at the
2010 annual general meeting. 
 Alchemia Share Register means the share register of members of Alchemia maintained in
accordance with the Corporations Act. 
 Alchemia Share means a fully paid ordinary share in the capital of Alchemia.

 Alchemia Shareholder means a person who is registered as the holder of Alchemia Shares. 

ASIC means the Australian Securities and Investments Commission. 

ASX means ASX Limited ABN 98 008 624 691 or, as the context requires, the financial market operated by it. 

ASX Settlement means ASX Settlement Pty Limited ABN 49 008 504 532. 

ASX Settlement Operating Rules means the operating rules of the clearing and settlement facility operated by ASX Settlement.

 ATO means the Australian Taxation Office. 
 Audeo Fundraising and IPO means the initial public offering of Audeo Oncology Shares. 
 Audeo Fundraising and IPO Share Price means the price at which Audeo Oncology Shares are issued under the Audeo Fundraising and IPO. 

Audeo Oncology Book Value means $54,442,340. 

  

			
	7358706/4	  	page 27

 Audeo Oncology means Audeo Oncology, Inc. of 100 Pine Street, Suite 2040, San
Francisco, California 94111. 
 Audeo Oncology CDI means a CHESS depositary interest to be issued in connection with the
Scheme representing an interest in one corresponding Audeo Oncology Share. 
 Audeo Oncology Register means:

  

	 	(a)	in the case of Audeo Oncology Shares, the share register of members of Audeo Oncology maintained by or on behalf of Audeo Oncology; and 

 

	 	(b)	in the case of Audeo Oncology CDIs, the CDI register of Audeo Oncology maintained by or on behalf of Audeo Oncology. 

Audeo Oncology Registry means the registry that maintains the Audeo Oncology Register on behalf of Audeo Oncology. 

Audeo Oncology Warrant means an option to acquire Audeo Oncology Shares. 

Audeo Oncology Share means a fully paid share in the common stock of Audeo Oncology to be issued in connection with the Scheme.

 Business Day means a day on which banks are open for business in Brisbane, excluding a Saturday, Sunday or public
holiday and which is a “Business Day” as defined in the Listing Rules. 
 Capital Reduction means a reduction of
the share capital of Alchemia equal to: 
  

	 	(a)	if the Market Value is equal to or greater than the Audeo Oncology Book Value, the Audeo Oncology Book Value; or 

 

	 	(b)	if the Market Value is less than the Audeo Oncology Book Value, the Market Value. 

 Capital Reduction Amount means, in respect of each Scheme Share, the amount of capital that is to be reduced in accordance with the Capital Reduction Resolution, being the Capital Reduction divided
by the number of Scheme Shares. 
 Capital Reduction Entitlement means, in relation to each Scheme Shareholder, the
Capital Reduction Amount multiplied by the number of Scheme Shares held by that Scheme Shareholder. 
 Capital Reduction
Resolution means the ordinary resolution to approve the reduction of the share capital of Alchemia to be considered at the General Meeting. 
 CDN means CHESS Depositary Nominees Pty Limited ABN 75 071 346 506. 

CHESS means the Clearing House Electronic Subregister System, which facilitates electronic security transfer in Australia, operated
by ASX Settlement. 
 Completion means when both of the following have occurred: 

  

			
	7358706/4	  	page 28

	 	(a)	an underwriting agreement is executed with Audeo Oncology for an amount, not exceeding US$60 million, expected at the time to be sufficient to complete the pivotal
Phase III clinical trial of HA-Irinotecan for metastatic colorectal cancer and to cover associated working capital requirements; and 

  

	 	(b)	the receipt by Audeo Oncology in cleared funds of the underwritten amount. 

 Conditions means the conditions in clause 3.1. 
 Condition
Subsequent means Completion of the Audeo Fundraising and IPO. 
 Corporations Act means the Corporations Act
2001 (Cth). 
 Court means the Federal Court of Australia or any other court of competent jurisdiction under the
Corporations Act agreed in writing by Alchemia and Audeo Oncology. 
 Demerger means the proposal by Alchemia to effect
the demerger of Audeo Oncology from Alchemia to be implemented by way of the Capital Reduction, the Demerger Dividend (if any) and the Scheme in the manner more fully described in the Scheme Booklet. 

Demerger Deed Poll means the deed poll to be executed by Audeo Oncology in favour of the Scheme Shareholders and the Investors.

 Demerger Dividend means the aggregate of the special dividend (if any) to be paid pursuant to the Demerger Dividend
Resolution, which is equal to the amount by which the Market Value exceeds the Audeo Oncology Book Value. 
 Demerger Dividend
Amount means the amount of the Demerger Dividend (if any) divided by the number of Scheme Shares. 
 Demerger Dividend
Entitlement in relation to each Scheme Shareholder, means the Demerger Dividend Amount (if any) multiplied by the number of Scheme Shares held by that Scheme Shareholder. 
 Demerger Dividend Resolution means the resolution by the Alchemia board of directors to resolve to pay a special dividend to Scheme Shareholders if the Market Value is greater than the Audeo
Oncology Book Value for an aggregate amount equal to the amount by which the Market Value exceeds the Audeo Oncology Book Value. 

Demerger Entitlement means the aggregate of the Capital Reduction Entitlement and the Demerger Dividend Entitlement (if any).

 Demerger Implementation Agreement means the demerger implementation agreement between Alchemia and Audeo Oncology dated
on or about 22 August 2012, relating to the implementation of the Demerger. 
 Demerger Tax Relief means relief from
any Australian capital gains tax that may arise from the transfer of shares in Audeo Oncology to Scheme Shareholders and confirmation from the ATO that no part of the Demerger Entitlement will be an assessable dividend. 

  

			
	7358706/4	  	page 29

 Effective means the coming into effect, under section 411(10) of the Corporations
Act, of the order of the Court made under section 411(4)(b) in relation to the Scheme. 
 Effective Date means the date on
which the Scheme becomes Effective. 
 Eligible Shareholder means an Alchemia Shareholder as at the Scheme Record Date
whose registered address on the Alchemia Share Register is in: 
  

	 	(a)	Australia; 

  

	 	(b)	New Zealand; 

  

	 	(c)	the US; 

  

	 	(d)	the United Kingdom; 

  

	 	(e)	France; 

  

	 	(f)	Germany; 

  

	 	(g)	the Netherlands; 

  

	 	(h)	Switzerland; 

  

	 	(i)	Singapore; 

  

	 	(j)	Hong Kong; or 

  

	 	(k)	any other jurisdiction in which Alchemia reasonably believes that the implementation of the Scheme and the issue of Audeo Oncology CDIs and transfer of Audeo Oncology
Shares to Scheme Shareholders in that jurisdiction is not prohibited, not unduly onerous and not impracticable, 

unless Alchemia determines as at the Scheme Record Date that the requirements of any exemption from applicable regulatory requirements in
a relevant jurisdiction is not or is no longer available for any particular Alchemia Shareholder, in which case it may determine that that Alchemia Shareholder is not an Eligible Shareholder. 

End Date means 31 December 2012. 
 General Meeting means the general meeting of Alchemia Shareholders to be convened to consider the Capital Reduction Resolution. 

(A) HA-Irinotecan means a HyACT-targeted version of the chemotherapeutic drug irinotecan. 

HyACT means Hyaluronic Acid Chemotransport Technology. 
 (B) Implementation Date means the date that is one Business Day after Completion of the Audeo Fundraising and IPO or such later date (being a date that is not later than the End Date) as:

  

	 	(a)	Alchemia and Audeo Oncology may agree; or 

  

	 	(b)	may be required by the ASX. 

Independent Expert means BDO Corporate Finance (QLD) Limited ABN 54 010 185 725. 

  

			
	7358706/4	  	page 30

 Ineligible Foreign Shareholders means an Alchemia Shareholder who is not an Eligible
Shareholder. 
 Intra-group Transfer Agreement means the agreement for the transfer of the Oncology Business by Alchemia
to Audeo Oncology in consideration for shares issued in the capital of Audeo Oncology between Alchemia and Audeo Oncology dated 28 June 2012. 
 Investors means the persons and entities who have a right to receive Audeo Oncology Warrants as set out in schedule 2 of the Demerger Deed Poll. 

Listing Rules means the official listing rules of the ASX. 
 Market Value means the amount which is the Audeo Fundraising and IPO Share Price multiplied by the number of Audeo Oncology Shares issued to Scheme Shareholders under the Scheme. 

NASDAQ means the NASDAQ Stock Market. 
 Oncology Business means Alchemia’s business which is focussed on the use of HyACT (oncology) technology to improve existing drugs used to treat and manage cancer. 

Registered Address means, in relation to an Alchemia Shareholder, the address shown in the Alchemia Share Register as at the Scheme
Record Date. 
 Restated Certificate of Incorporation and By-Laws means the constituent documents of Audeo Oncology.

 Sale Facility means the facility under which Audeo Oncology Shares or Audeo Oncology CDIs to which Ineligible Foreign
Shareholders would otherwise have been entitled under the Scheme are sold. 
 Sale Facility Agent means the entity who
will be appointed to sell or facilitate the issue or transfer of the Audeo Oncology CDIs or Audeo Oncology Shares on behalf of the Ineligible Foreign Shareholders. 
 Scheme means this scheme of arrangement, subject to any alterations or conditions made or required by the Court under section 411(6) of the Corporations Act and agreed or consented to by Alchemia
and Audeo Oncology. 
 Scheme Booklet means the information to be dispatched to Alchemia Shareholders and approved by the
Court, including the Scheme, explanatory statement in relation to the Scheme issued pursuant to section 412 of the Corporations Act and registered with ASIC, the Independent Expert’s Report, the Demerger Deed Poll, a summary of this
document and the notices convening the General Meeting and the Scheme Meeting (together with, in each case, proxy forms). 

Scheme Meeting means the meeting of Alchemia Shareholders to be convened by the Court in relation to the Scheme in accordance with
section 411(1) of the Corporations Act. 
 Scheme Order means the order of the Court made for the purposes of
section 411(4)(b) of the Corporations Act in respect of the Scheme. 

  

			
	7358706/4	  	page 31

 Scheme Record Date means five Trading Days after the last Trading Day for Alchemia
Shares to trade with an entitlement to the Demerger Entitlement. 
 Share Registry means Link Market Services Limited ABN
54 083 214 537. 
 Scheme Shareholder means a person registered in the Alchemia Share Register as the holder of Scheme
Shares on the Scheme Record Date. 
 Scheme Share means each Alchemia Share on issue on the Scheme Record Date.

 Second Court Date means the first day of the Second Court Hearing or, if the Second Court Hearing is adjourned for any
reason, the first day on which the adjourned application is heard. 
 Second Court Hearing means the hearing of the
application made to the Court for the Scheme Order. 
 Subsidiary has the meaning given in the Corporations Act.

 Trading Day has the meaning given in the Listing Rules. 

 

	1.2	Construction 

 Unless
expressed to the contrary, in this document: 
  

	 	(a)	words in the singular include the plural and vice versa; 

  

	 	(b)	if a word or phrase is defined its other grammatical forms have corresponding meanings; 

 

	 	(c)	“includes” means includes without limitation; 

  

	 	(d)	no rule of construction will apply to a clause to the disadvantage of a party merely because that party put forward the clause or would otherwise benefit from it;

  

	 	(e)	words and phrases have the same meaning (if any) given to them in the Corporations Act; 

 

	 	(f)	a reference to: 

  

	 	(i)	a holder includes a joint holder; 

  

	 	(ii)	a person includes a partnership, joint venture, unincorporated association, corporation and a government or statutory body or authority; 

 

	 	(iii)	a person includes the person’s legal personal representatives, successors, assigns and persons substituted by novation; 

 

	 	(iv)	any legislation includes subordinate legislation under it and includes that legislation and subordinate legislation as modified or replaced; 

 

	 	(v)	an obligation includes a warranty or representation and a reference to a failure to comply with an obligation includes a breach of warranty or representation;

  

	 	(vi)	a right includes a benefit, remedy, discretion or power; 

  

			
	7358706/4	  	page 32

	 	(vii)	time is to local time in Brisbane, Australia; 

  

	 	(viii)	“$” or “dollars” is a reference to Australian currency; 

 

	 	(ix)	this or any other document includes the document as novated, varied or replaced and despite any change in the identity of the parties; 

 

	 	(x)	writing includes any mode of representing or reproducing words in tangible and permanently visible form, and includes fax transmissions; 

 

	 	(xi)	this document includes all schedules and annexures to it; and 

  

	 	(xii)	a clause, party, schedule, exhibit or annexure is a reference to a clause, party, schedule, exhibit or annexure, as the case may be, of this document;

  

	 	(g)	if the date on or by which any act must be done under this document is not a Business Day, the act must be done on or by the next Business Day; and

  

	 	(h)	where time is to be calculated by reference to a day or event, that day or the day of that event is excluded. 

 

	1.3	Headings 

 Headings do not
affect the interpretation of this document. 
  

	2	Preliminary 

  

	2.1	Alchemia 

  

	 	(a)	Alchemia is: 

  

	 	(i)	a public company limited by shares under section 112(1) of the Corporations Act; 

 

	 	(ii)	incorporated in Australia and registered in Queensland, having its registered office at Eight Mile Plains, Brisbane, Queensland 4113; and 

 

	 	(iii)	admitted to the official list of the ASX and fully paid Alchemia Shares are quoted on the official list of the ASX. 

 

	 	(b)	As at the date of the Demerger Implementation Agreement: 

  

	 	(i)	280,617,079 Alchemia Shares were on issue; and 

  

	 	(ii)	3,463,000 Alchemia Options which may convert into Alchemia Shares were on issue. 

 

	2.2	Audeo Oncology 

  

	 	(a)	Audeo Oncology is a corporation incorporated in Delaware, the United States, having its registered office at 100 Pine Street, Suite 2040, San Francisco, California
94111. 

  

			
	7358706/4	  	page 33

	 	(b)	As at the date of the Demerger Implementation Agreement 7,500,020 Audeo Oncology Shares were on issue. 

 

	2.3	Summary of the Scheme 

 If
the Scheme becomes Effective and the Condition Subsequent is satisfied by the End Date, but subject to clauses 3.1 and 3.6, then on the Implementation Date: 

 

	 	(a)	Alchemia will reduce its share capital by the amount of the Capital Reduction and will, if the Market Value exceeds the Audeo Oncology Book Value pay the Demerger
Dividend; 

  

	 	(b)	Alchemia will apply the Demerger Entitlement on behalf of each Scheme Shareholder as consideration in full and exchange for: 

 

	 	(i)	if a Scheme Shareholder is an Eligible Shareholder: 

  

	 	(A)	and elects to receive Audeo Oncology Shares, the transfer of Audeo Oncology Shares to each Scheme Shareholder; and 

 

	 	(B)	otherwise, the transfer of Audeo Oncology Shares to CDN and issue of Audeo Oncology CDIs to each Scheme Shareholder; and 

 

	 	(ii)	if a Scheme Shareholder is an Ineligible Foreign Shareholder, the transfer of Audeo Oncology Shares to CDN and issue of Audeo Oncology CDIs to the Sale Facility Agent;
and 

  

	 	(c)	Audeo Oncology will cease to be a Subsidiary of Alchemia. 

  

	2.4	Demerger Implementation Agreement 

 Alchemia and Audeo Oncology have entered into the Demerger Implementation Agreement pursuant to which, among other things, Alchemia has agreed to propose the Scheme to Alchemia Shareholders and each of
Alchemia and Audeo Oncology have agreed to take all steps to give effect to the Capital Reduction, the Demerger Dividend (if any) and the Scheme. 
  

	2.5	Demerger Deed Poll 

 Audeo
Oncology has executed the Demerger Deed Poll in favour of Scheme Shareholders and Investors pursuant to which it has covenanted to: 
  

	 	(a)	perform its obligations under the Scheme and do all things necessary or expedient on its part to implement the Scheme; and 

 

	 	(b)	issue the Audeo Oncology Warrants to the Investors in accordance with their terms. 

  

			
	7358706/4	  	page 34

	3	Conditions 

  

	3.1	Conditions of Scheme 

 The
Scheme is conditional upon the satisfaction or waiver of the following conditions: 
  

	 	(a)	(ASIC and ASX) before 8.00 am on the Second Court Date, ASIC and the ASX issue or provide such consents, approvals or waivers or do such other acts which
Alchemia determines are necessary or desirable to implement the Demerger and such acts are not withdrawn, including in the case of ASIC, providing the statement required under section 411(17)(b) of the Corporations Act;

  

	 	(b)	(Independent Expert Report) the Independent Expert issues its report which concludes that the Scheme is in the best interests of Scheme Shareholders before the
date on which the Scheme Booklet is registered by ASIC under the Corporations Act and the Independent Expert does not change its conclusions or withdraw its report prior to 8.00 am on the Second Court Date; 

 

	 	(c)	(Alchemia Shareholder approval—Scheme) Alchemia Shareholders approve the Scheme by the necessary majorities at the Scheme Meeting (or any adjournment or
postponement of the Scheme Meeting); 

  

	 	(d)	(Alchemia Shareholder approval—Capital Reduction) Alchemia Shareholders approve the Capital Reduction by the necessary majority under the Corporations Act
and the constitution of Alchemia before the Second Court Date. 

  

	 	(e)	(Court approval of Scheme) the Court approves the Scheme under section 411(4)(b) of the Corporations Act and an office copy of the Scheme Order is lodged
with ASIC as contemplated by section 411(10) of the Corporations Act; 

  

	 	(f)	(No restraint) no temporary restraining order, preliminary or permanent injunction or other order is issued by a court of competent jurisdiction or other legal
restraint or prohibition preventing the Demerger is in effect at 8.00 am on the Second Court Date; 

  

	 	(g)	(CDN) before 8.00 am on the Second Court Date, Audeo Oncology has appointed CDN and CDN has agreed to the transfer to it of Audeo Oncology Shares under the
Scheme; 

  

	 	(h)	(Sale Facility Agent) before 8.00 am on the Second Court Date, Audeo Oncology has appointed a Sale Facility Agent and the Sale Facility Agent has agreed to sell
the Audeo Oncology CDIs and Audeo Oncology Shares (as relevant); 

  

	 	(i)	(Ability to issue Audeo Oncology CDIs) before 8.00 am on the Second Court Date, Audeo Oncology has done everything necessary under the ASX Settlement Operating
Rules to enable it to issue Audeo Oncology CDls other than the transfer to CDN of Audeo Oncology Shares under the Scheme; and 

  

			
	7358706/4	  	page 35

	 	(j)	(Demerger Tax relief) before 8.00 am on the Second Court Date, Alchemia obtaining Demerger Tax Relief. 

 

	3.2	Conditions Subsequent 

The Scheme will not be implemented and clauses 4 to 6 will not take effect unless the Condition Subsequent is satisfied by
the End Date. If the Condition Subsequent is satisfied by the End Date, the Scheme will be implemented and clause 4 to 6 will take effect on the date of satisfaction of the Condition Subsequent. 

 

	3.3	Waiver of condition 

  

	 	(a)	Each of the conditions in clauses 3.1(a) and 3.1(f) is for the benefit of Alchemia, and any breach or non-fulfilment of those conditions can only be
waived with the consent Alchemia. 

  

	 	(b)	The conditions in clauses 3.1(b), 3.1(c), 3.1(d), 3.1(e), 3.1(g), 3.1(h), 3.1(i), 3.1(j) and 3.2
cannot be waived by either party. 

  

	3.4	Certificate 

 Alchemia
must provide, and must procure Audeo Oncology to provide, to the Court on the Second Court Date a certificate authorised by its respective board and signed by at least one of its respective directors (or such other evidence as the Court may request)
stating (to the best of its knowledge) whether or not the conditions in clause 3.1 (other than clause 3.1(e)) have been satisfied or waived (subject to the terms of the Demerger Implementation Agreement) as at 8.00 am on the
Second Court Date. 
  

	3.5	Conclusive evidence 

 The
giving of a certificate by each of Alchemia and Audeo Oncology in accordance with clause 3.4 will, in the absence of manifest error, be conclusive evidence of the matters referred to in the certificate. 

 

	3.6	Termination of Demerger Implementation Agreement 

 Without limiting rights under the Demerger Implementation Agreement, if: 
  

	 	(a)	the Demerger Implementation Agreement is terminated in accordance with its terms before 8.00 am on the Second Court Date; 

 

	 	(b)	the Conditions are not satisfied or waived by the time required; 

  

	 	(c)	the Condition Subsequent is not satisfied by the End Date; or 

  

	 	(d)	the Effective Date has not occurred on or before the End Date, 

 the Scheme will have no further operation, will come to an end and will and be of no further force or effect and Alchemia and Audeo Oncology are each released from: 

 

	 	(e)	any further obligation to take steps to implement the Scheme; and 

  

	 	(f)	any liability with respect to the Scheme. 

  

			
	7358706/4	  	page 36

	3.7	Effective Date 

 This
Scheme takes effect on the Effective Date. 
  

	4	Scheme 

  

	4.1	Issue of Audeo Oncology Shares to Alchemia 

 The Audeo Oncology Shares: 
  

	 	(a)	are or will be validly issued; 

  

	 	(b)	are or will be fully paid; and 

  

	 	(c)	rank pari passu in all respects with all other Audeo Oncology Shares then issued and outstanding. 

 

	4.2	Demerger Dividend Resolution 

 Prior to the Implementation Date and if the Market Value is greater than the Audeo Oncology Book Value, the board of directors of Alchemia will pass the Demerger Dividend Resolution. 

 

	4.3	Capital Reduction and Demerger Dividend (if any) 

 On the Implementation Date: 
  

	 	(a)	Alchemia will reduce its share capital in accordance with the Capital Reduction Resolution; 

 

	 	(b)	if the Market Value is greater than the Audeo Oncology Book Value, Alchemia will declare the Demerger Dividend; and 

 

	 	(c)	Alchemia must apply the Demerger Entitlement of each Scheme Shareholder in accordance with clause 4.4. 

 

	4.4	Entitlements of Scheme Shareholders 

 The Demerger Entitlement of each Scheme Shareholder, will, on the Implementation Date, be applied as follows: 
  

	 	(a)	for each Scheme Shareholder, who is an Eligible Shareholder, by Alchemia as consideration in full and in exchange for: 

 

	 	(i)	if a Scheme Shareholder elects to receive Audeo Oncology Shares, the transfer by Alchemia to that Scheme Shareholder of one Audeo Oncology Share; and

  

	 	(ii)	otherwise, the issue to that Scheme Shareholder of one Audeo Oncology CDI, 

 for every 37 Scheme Shares held by that Scheme Shareholder, in accordance with clause 4.6; and 
  

	 	(b)	 for each Ineligible Foreign Shareholder, by Alchemia procuring (on behalf of that Ineligible Foreign Shareholder) the Sale Facility Agent to sell as
soon as reasonably practicable after the Implementation Date, in a manner reasonably determined by Alchemia and the Sale Facility 

  

			
	7358706/4	  	page 37

	 	
Agent, that number of Audeo Oncology CDIs or Audeo Oncology Shares to which that Ineligible Foreign Shareholder would otherwise have been entitled, in accordance with clause 4.9.

  

	4.5	Election 

  

	 	(a)	Each Scheme Shareholder who is an Eligible Shareholder may make an election to receive Audeo Oncology Shares rather than Audeo Oncology CDIs under the Scheme by 10.00
am on 3 October 2012 (or such other date as agreed by Alchemia and Audeo Oncology in writing) to the Share Registry. 

  

	 	(b)	An election under clause 4.5(a) may only be made in respect of all and not part of the Scheme Shares held by a Scheme Shareholder who is an Eligible Foreign
Shareholder. 

  

	 	(c)	If a Scheme Shareholder who is an Eligible Shareholder does not make an election in accordance with clause 4.5(a), that Scheme Shareholder will receive Audeo
Oncology CDIs under the Scheme. 

  

	4.6	Transfer of Audeo Oncology Shares and issue of Audeo Oncology CDIs 

 The obligations of Alchemia under clause 4.4(a) will be discharged by: 
  

	 	(a)	Alchemia executing a transfer or transfers of Audeo Oncology Shares to: 

  

	 	(i)	if a Scheme Shareholder elects to receive Audeo Oncology Shares, the Scheme Shareholder; and 

 

	 	(ii)	otherwise, CDN as nominee for the relevant Scheme Shareholders, 

 in the numbers determined in accordance with clause 4.4(a) and delivering the transfer or transfers of such Audeo Oncology Shares to Audeo Oncology for registration; 

 

	 	(b)	Alchemia procuring Audeo Oncology to register the transfers delivered to Audeo Oncology under clause 4.6(a) by entering in the Audeo Oncology Register the name
of each Scheme Shareholder or CDN (as relevant) in respect of the Audeo Oncology Shares transferred to the relevant Scheme Shareholder or CDN (as relevant) in accordance with this Scheme; and 

 

	 	(c)	if a Scheme Shareholder receives Audeo Oncology CDIs, Alchemia procuring Audeo Oncology to: 

 

	 	(i)	issue, or procure the issue of, to those Scheme Shareholders Audeo Oncology CDIs in the numbers determined in accordance with clause 4.4(a); and

  

	 	(ii)	record in the Audeo Oncology Register each person who is to receive an Audeo Oncology CDI under clause 4.6(c)(i). 

  

			
	7358706/4	  	page 38

	4.7	Dispatch of holding statements and transaction confirmations 

  

	 	(a)	As soon as practicable after the Implementation Date, Alchemia will procure that Audeo Oncology sends: 

 

	 	(i)	to Scheme Shareholders that are entitled to and elect to receive Audeo Oncology Shares, transaction confirmations for the Audeo Oncology Shares to which they are
entitled; 

  

	 	(ii)	for Ineligible Foreign Shareholders: 

  

	 	(A)	to CDN, as the nominee for the Sale Facility Agent, transaction confirmations for the Audeo Oncology Shares which that Ineligible Foreign Shareholder would otherwise be
entitled; and 

  

	 	(B)	to the Sale Facility Agent as nominee for the Ineligible Foreign Shareholders, holding statements for the Audeo Oncology CDIs to which that Ineligible Foreign
Shareholder would otherwise be entitled; and 

  

	 	(iii)	for all other Scheme Shareholders: 

  

	 	(A)	to CDN as nominee for that Scheme Shareholder, transaction confirmations for the Audeo Oncology Shares to which that Scheme Shareholder would otherwise be entitled; and

  

	 	(B)	to that Scheme Shareholder, holding statements for the Audeo Oncology CDIs to which that Scheme Shareholder would otherwise be entitled, 

by prepaid post (in the case of holding statements) or first class post (in the case of transaction confirmations) to: 

 

	 	(C)	in the case of Scheme Participants, their Registered Addresses, unless that Scheme Participant has directed otherwise, does not have a Registered Address or where
Alchemia and Audeo Oncology believe that such Scheme Participant is not known at their Registered Address; 

  

	 	(D)	in the case of the Sale Facility Agent, the address notified to Alchemia by the Sale Facility Agent; and 

 

	 	(E)	in the case of CDN, the address notified to Alchemia by CDN. 

  

	4.8	Enforcement of Demerger Deed Poll 

 Alchemia undertakes in favour of each Scheme Shareholder and Investor to enforce the Demerger Deed Poll against Audeo Oncology on behalf of and as agent for the Scheme Shareholders and Investors.

  

			
	7358706/4	  	page 39

	4.9	Ineligible Foreign Shareholders 

  

	 	(a)	In respect of Scheme Shares held by Ineligible Foreign Shareholders, the obligations of Alchemia under clause 4.4(b) will be discharged by Alchemia:

  

	 	(i)	as soon as reasonably practicable after the Implementation Date, procuring the sale, pursuant to the Sale Facility, of Audeo Oncology CDIs to which the Ineligible
Foreign Shareholders would otherwise have been entitled or the underlying Audeo Oncology Shares their Audeo Oncology CDIs represent a beneficial entitlement in, in a manner reasonably determined by Alchemia and the Sale Facility Agent;

  

	 	(ii)	accounting to each Ineligible Foreign Shareholder for the net proceeds of sale of those Audeo Oncology CDIs and Audeo Oncology Shares after deducting any applicable
brokerage, registry fees, duties and charges, at the Ineligible Foreign Shareholder’s cost and in full satisfaction of the Ineligible Foreign Shareholder’s rights under the Scheme; and 

 

	 	(iii)	as soon as reasonably practicable after the receipt by Alchemia of the net proceeds of sale referred to in clause 4.9(a)(ii), remitting to the Ineligible
Foreign Shareholder those net proceeds of sale in respect of the Ineligible Foreign Shareholder’s entitlement under clause 4.4 and this clause 4.9. 

 

	 	(b)	The applicable net proceeds of sale remitted to an Ineligible Foreign Shareholder under clause 4.9(a)(iii) will: 

 

	 	(i)	reflect the average price which all Audeo Oncology CDIs and Audeo Oncology Shares not able to be transferred to Ineligible Foreign Shareholders had been sold;

  

	 	(ii)	be rounded down to the nearest whole cent; and 

  

	 	(iii)	be paid to the Ineligible Foreign Shareholder either by cheque or bank draft in Australian dollars drawn on an Australian bank, such cheque or bank draft to be
dispatched by mail to the Ineligible Foreign Shareholder’s Registered Address. 

  

	 	(c)	If the Sale Facility Agents sells Audeo Oncology Shares on NASDAQ under clause 4.9(a)(i), the proceeds from sale will be converted at the exchange rate between
the US dollar and the Australian dollar at a date determined by the Sale Facility Agent after the date of sale of the Audeo Oncology Shares. 

  

	 	(d)	Any interest earned on the net proceeds of sale of any Audeo Oncology CDIs and Audeo Oncology Shares to which the Ineligible Foreign Shareholders would otherwise have
been entitled will be paid to and retained by Alchemia. 

  

	 	(e)	 Any amount payable to an Ineligible Foreign Shareholder under this clause 4.9 will be reduced by the amount of any withholding or other tax
which Alchemia believes, based on professional advice, is required by 

  

			
	7358706/4	  	page 40

	 	
any taxation or other law to be withheld in respect of such amount and payment of such amount to the relevant taxation or other authority within any required statutory period will fully and
finally discharge Alchemia’s obligations in respect of such amount (although Alchemia must on request, or if required by law, provide a receipt or other evidence of such payment to each affected Scheme Shareholder). 

 

	 	(f)	If the Ineligible Foreign Shareholder does not have a Registered Address or Alchemia believes that the Ineligible Foreign Shareholder is not known at their Registered
Address, the amount payable to that Ineligible Foreign Shareholder under this clause 4.9 will be credited to a separate bank account of Alchemia to be held until the Ineligible Foreign Shareholder claims the amount or the amount is dealt with
in accordance with unclaimed money legislation. Alchemia must hold the amount on trust, but any benefit accruing from the amount will be to the benefit of Alchemia. An amount credited to the account is to be treated as having been paid to the
Ineligible Foreign Shareholder when credited to the account. Alchemia must maintain records of the amounts paid, the people who are entitled to the amounts, and any transfers of the amounts. 

 

	 	(g)	Alchemia, in complying with the terms of this clause 4.9 in respect of an Ineligible Foreign Shareholder will be taken to have satisfied and discharged its
obligations to the Ineligible Foreign Shareholder under the terms of the Capital Reduction Resolution, the Demerger Dividend Resolution and the Scheme. An Ineligible Foreign Shareholder will have no claim against Alchemia for any entitlement they
would have had to Audeo Oncology CDIs or Audeo Oncology Shares but for the terms of this Scheme. 

  

	 	(h)	Under this Scheme, each Ineligible Foreign Shareholder agrees and acknowledges that the sale of that person’s Audeo Oncology CDIs, to which they were otherwise
entitled or the underlying Audeo Oncology Shares these Audeo Oncology CDIs represent a beneficial entitlement in, under the Sale Facility or this Scheme by operation of this clause 4.9 constitutes satisfaction of all that person’s
entitlements in and to that person’s Audeo Oncology CDIs or Audeo Oncology Shares. 

  

	 	(i)	Each Ineligible Foreign Shareholder appoints Alchemia as its agent to receive on its behalf any financial services guide or any other notice which may be given to that
Ineligible Foreign Shareholder. 

  

	4.10	Joint holders 

 In the
case of Scheme Shares held in joint names: 
  

	 	(a)	any share certificates for Audeo Oncology Shares or holding statements for Audeo Oncology CDIs to be issued to Scheme Shareholders will be issued in the names of the
joint holders; and 

  

	 	(b)	any cheque required to be paid to Ineligible Foreign Shareholders will be payable to the joint holders,and will be forwarded to the holder whose name appears first in
the Alchemia Share Register as at the Scheme Record Date. 

  

			
	7358706/4	  	page 41

	4.11	Fractional entitlements 

If the number of Alchemia Shares held by a Scheme Shareholder is such that: 

 

	 	(a)	regarding a Scheme Shareholder who is not an Ineligible Foreign Shareholder, that Scheme Shareholder’s entitlement to Audeo Oncology CDIs or Audeo Oncology Shares
(as relevant) under clauses 4.4(a); or 

  

	 	(b)	regarding an Ineligible Foreign Shareholder, that number of Audeo Oncology CDIs or Audeo Oncology Shares which that Ineligible Foreign Shareholder would otherwise have
been entitled and that are to be sold by the Sale Facility Agent under clause 4.4(b), 

 is not a whole
number, that Scheme Shareholder’s entitlement to Audeo Oncology CDIs or Audeo Oncology Shares (as relevant) will be rounded up to the nearest whole number. If Alchemia believes that a Scheme Shareholder’s shareholding of Alchemia Shares
has been manipulated to take advantage of rounding up, then any fractional entitlement will be aggregated or rounded down to the next whole number of Alchemia Shares. 
  

	5	Scheme Shareholders 

  

	5.1	Appointment of Alchemia as sole attorney and agent 

 Each Scheme Shareholder, without the need for any further act, irrevocably appoints Alchemia and each of the directors and officers of Alchemia, jointly and severally, as the Scheme Shareholder’s
attorney and agent for the purpose of executing any document necessary or expedient to give effect to the Scheme or doing any other act necessary or desirable to give full effect to the Scheme and the transactions contemplated by it. 

 

	5.2	Scheme Shareholder’s consent 

 Each Scheme Shareholder: 
  

	 	(a)	consents to Alchemia doing all things and executing all deeds, instruments, transfers or other documents as may be necessary, incidental or expedient to the
implementation and performance of the Scheme and Alchemia, as agent of each Scheme Shareholder, may sub-delegate its functions under this clause 5.2 to any of its directors and officers, severally; 

 

	 	(b)	agrees to become a holder of any Audeo Oncology CDIs or Audeo Oncology Shares (as relevant) to which they become entitled under the Scheme and a member of Audeo
Oncology and to be bound by the Restated Certificate of Incorporation and By-Laws in respect of Audeo Oncology CDIs or Audeo Oncology Shares (as relevant) issued to them pursuant to the Scheme, and that its holdings of the Audeo Oncology Shares or
Audeo Oncology CDIs (as relevant) will be registered with the same name and registered address as its holding of the Scheme Shares; and 

  

			
	7358706/4	  	page 42

	 	(c)	except for a Scheme Shareholder’s tax file number (unless relief is obtained by Alchemia), any binding instruction or notification between a Scheme Shareholder and
Alchemia relating to the Scheme Shares at the Scheme Record Date (including any instructions relating to payment of dividends or to communications from Alchemia) will from the Scheme Record Date be deemed to be a similarly binding instruction or
notification to, and accepted by, Audeo Oncology in respect of the Audeo Oncology Shares transferred to the Scheme Shareholder until that instruction or notification is revoked or amended in writing addressed to Audeo Oncology at the Audeo Oncology
Registry. Any such instructions or notifications accepted by Audeo Oncology will apply to and in respect of Audeo Oncology Shares or Audeo Oncology CDIs transferred to Scheme Shareholders only to the extent that they are not inconsistent with the
other provisions of the Scheme. 

  

	6	Dealings in Alchemia Shares 

  

	6.1	Alchemia Share Register 

The establishment of the persons who are the Scheme Shareholders and their respective entitlements will be solely determined by the
Alchemia Share Register (maintained by Alchemia in the manner set out in clause 6.2). 
  

	6.2	Determination of Scheme Shareholders 

  

	 	(a)	For the purpose of establishing the persons who are the Scheme Shareholders and their respective entitlements, dealings in Alchemia Shares will only be recognised if:

  

	 	(i)	in the case of dealings of the type to be effected using CHESS, the transferee is registered in the Alchemia Share Register as the holder of the relevant Alchemia
Shares at the Scheme Record Date; and 

  

	 	(ii)	in all other cases, registrable transmission applications or transfers in registrable form in respect of those dealings are received at or before the Scheme Record Date
at the place where the Alchemia Share Register is kept. 

  

	 	(b)	Alchemia must register registrable transmission applications or transfers of the kind referred to in clause 6.2(a)(ii) by the Scheme Record Date.

  

	 	(c)	Alchemia will not accept for registration or recognise for any purpose any transmission applications or transfers in respect of Alchemia Shares received after the
Scheme Record Date. 

  

			
	7358706/4	  	page 43

	7	Notices 

  

	7.1	General 

 Any notice,
transfer, transmission, application, direction, demand, consent or other communication (Notice) given or made under this document must be in writing in English and signed by the sender or a person duly authorised by the sender. 

 

	7.2	Communications by post 

Subject to clause 7.4, where a Notice referred to in this document is sent by post to Alchemia, it will not be deemed to have
been received in the ordinary course of post or on a date other than the date (if any) on which it is actually received at Alchemia’s registered office or at the Share Registry. 

 

	7.3	Communications by fax 

Subject to clause 7.4, a Notice is given if sent by fax, when the sender’s fax machine produces a report that the fax was
sent in full to the addressee. That report is conclusive evidence that the addressee received the fax in full at the time indicated on that report. 
  

	7.4	After hours communications 

If a Notice is given: 
  

	 	(a)	after 5.00 pm in the place of receipt; or 

  

	 	(b)	on a day which is a Saturday, Sunday or bank or public holiday in the place of receipt, 

it is taken as having been given at 9.00 am on the next day which is not a Saturday, Sunday or bank or public holiday in that place.

  

	8	General 

  

	8.1	Alchemia and Scheme Shareholders bound 

 The Scheme binds Alchemia and all Scheme Shareholders (including Scheme Shareholders who do not attend the Scheme Meeting, do not vote at that meeting or vote against the Scheme) and will, for all
purposes, to the extent of any inconsistencies and permitted by law, have effect notwithstanding any provision in the constitution of Alchemia. 
  

	8.2	Further assurances 

Subject to clause 8.3, Alchemia will execute all documents and do all acts and things (on its own behalf and on behalf of each
Alchemia Shareholder) necessary or expedient for the implementation of, and performance of its obligations under, the Scheme. 
  

	8.3	Alterations and conditions 

Alchemia may, with the consent of Audeo Oncology, by its counsel, consent on behalf of all Scheme Shareholders to any modifications or
conditions which the Court thinks fit to impose, provided that in no circumstances will Alchemia be obliged to do so. 

  

			
	7358706/4	  	page 44

	8.4	Costs 

 Any costs, and any
stamp duty and any related fines, interest or penalties, which are payable on or in respect of this document or on any document referred to in this document will be paid as provided for in the Demerger Implementation Agreement. For the avoidance of
doubt, the Scheme Shareholders do not have to pay any stamp duty, related fines, interest or penalties which are payable on or in respect of this document or any document referred to in this document. 

 

	8.5	Governing law and jurisdiction 

  

	 	(a)	This document is governed by and is to be construed in accordance with the laws applicable in Queensland, Australia. 

 

	 	(b)	Each party irrevocably and unconditionally submits to the non-exclusive jurisdiction of the courts exercising jurisdiction in Queensland, Australia and any courts which
have jurisdiction to hear appeals from any of those courts and waives any right to object to any proceedings being brought in those courts. 

  

			
	7358706/4	  	page 45

 Annexure B 
 Demerger Deed Poll 

  

			
	7358706/4	  	page 46

  
 Audeo
Oncology, Inc. 
  
  
 Deed Poll 

  

			
	7358706/4	  	page 47

 Contents 
  

					
	 1       Interpretation
	  	 	49	  
		
	 1.1        Definitions
	  	 	49	  
	 1.2        Construction
	  	 	50	  
	 1.3        Headings
	  	 	50	  
		
	 2       Nature of this deed poll
	  	 	50	  
		
	 3       Conditions precedent and termination
	  	 	50	  
	 3.1        Conditions precedent
	  	 	50	  
	 3.2        Termination
	  	 	50	  
	 3.3        Consequences of termination
	  	 	51	  
		
	 4       Certificate in relation to conditions
	  	 	51	  
		
	 5       Audeo Oncology obligations
	  	 	51	  
	 5.1        Performance of obligations generally
	  	 	51	  
	 5.2        Obligation to update Audeo Oncology Register
	  	 	51	  
	 5.3        Confirmation dispatch of holding statements and transaction
confirmations
	  	 	52	  
		
	 6       Audeo Oncology Warrants
	  	 	53	  
		
	 7       Representations and warranties
	  	 	53	  
		
	 8       Continuing obligations
	  	 	54	  
		
	 9       Stamp duty
	  	 	54	  
		
	 10     Notices
	  	 	54	  
		
	 10.1      General
	  	 	54	  
	 10.2      How to give a Notice
	  	 	54	  
	 10.3      Particulars for delivery of Notices
	  	 	54	  
	 10.4      Communications by post
	  	 	55	  
	 10.5      Communications by fax
	  	 	55	  
	 10.6      After hours communications
	  	 	55	  
	 10.7      Process service
	  	 	55	  
		
	 11     General
	  	 	55	  
		
	 11.1      Waiver
	  	 	55	  
	 11.2      Cumulative rights
	  	 	56	  
	 11.3      Amendment
	  	 	56	  
	 11.4      Assignment
	  	 	56	  
	 11.5      Severability
	  	 	56	  
	 11.6      Further assurances
	  	 	56	  
	 11.7      Governing law and jurisdiction
	  	 	56	  
		
	 Schedule 1 – Audeo Oncology Warrant terms
	  	 	57	  
		
	 Schedule 2 – Investors
	  	 	63	  

  

			
	7358706/4	  	page 48

 Dated
                            August 2012 

By 
 Audeo
Oncology, Inc. of 100 Pine Street, Suite 2040, San Francisco, California 94111 (Audeo Oncology) 
 in favour of each
Scheme Shareholder and Investor. 
 Background 
  

	A	The directors of Alchemia Limited (Alchemia) consider that it is in the interests of Alchemia and Alchemia’s Shareholders that Alchemia Shareholders
consider the Scheme. The directors of Alchemia have therefore resolved that Alchemia propose the Scheme. 

  

	B	Audeo Oncology and Alchemia have entered into the Demerger Implementation Agreement. 

 

	C	Audeo Oncology is entering into this document for the purpose of covenanting in favour of Scheme Shareholders and the Investors to: 

 

	 	(a)	perform its obligations under the Scheme; and 

  

	 	(b)	issue the Audeo Oncology Warrants to the Investors in accordance with their terms. 

 Declarations 
  

	1	Interpretation 

  

	1.1	Definitions 

 In this
document: 
  

	 	(a)	Audeo Oncology Warrant means an option to subscribe for Audeo Oncology Shares on the terms and conditions set out in schedule 1;

  

	 	(b)	First Tranche Shares means the total number of Alchemia Shares available for placement under the first tranche of the Placement; 

 

	 	(c)	Investors means the persons and entities who have a right to receive Audeo Oncology Warrants as set out in schedule 2; 

 

	 	(d)	Listing means the listing of Audeo Oncology on a securities exchange; 

  

			
	7358706/4	  	page 49

	 	(e)	Placement means the Alchemia institutional placement capital raising in November 2011 to be undertaken in two tranches; 

 

	 	(f)	Second Tranche Shares means the balance of Alchemia Shares to be issued under the Placement; and 

 

	 	(g)	words and phrases defined in the Scheme have the same meaning in this document unless the context requires otherwise. 

 

	1.2	Construction 

 The rules
specified in clause 1.2 of the Scheme apply in interpreting or construing this document, unless the context requires otherwise. 
  

	1.3	Headings 

 Headings do not
affect the interpretation of this document. 
  

	2	Nature of this deed poll 

 Audeo
Oncology acknowledges that: 
  

	 	(a)	this document may be relied on and enforced by any Scheme Shareholder or Investor in accordance with its terms, even though the Scheme Shareholders and Investors are
not party to it; and 

  

	 	(b)	under the Scheme, each Scheme Shareholder irrevocably appoints Alchemia and any of Alchemia’s directors as its agent and attorney, inter alia, to enforce this
document against Audeo Oncology. 

  

	3	Conditions precedent and termination 

  

	3.1	Conditions precedent 

 The
obligations of Audeo Oncology in respect of the Scheme pursuant to this document are subject to the Scheme becoming Effective and the satisfaction of the Condition Subsequent by the End Date. 

 

	3.2	Termination 

 If:

  

	 	(a)	the Demerger Implementation Agreement is terminated in accordance with its terms before 8.00 am on the Second Court Date; 

 

	 	(b)	the Conditions are not satisfied or waived by the time required; 

  

	 	(c)	the Condition Subsequent is not satisfied by the End Date; or 

  

	 	(d)	the Effective Date has not occurred on or before the End Date, 

 Audeo Oncology’s obligations under this document will automatically terminate, unless Audeo Oncology and Alchemia otherwise agree in writing in accordance with the Demerger Implementation Agreement.

  

			
	7358706/4	  	page 50

	3.3	Consequences of termination 

 If this document is terminated under clause 3.2 then, in addition and without prejudice to any other rights, powers or remedies available to Scheme Shareholders: 

 

	 	(a)	Audeo Oncology is released from its obligations to further perform this document, except those obligations contained in clause 9; and

  

	 	(b)	each Scheme Shareholder and Investor retains any rights, power or remedies it has against Audeo Oncology in respect of any breach of this document by Audeo Oncology
which occurred before termination of this document. 

  

	4	Certificate in relation to conditions 

 Audeo Oncology must provide to the Court on the Second Court Date a certificate which is authorised by the board of Audeo Oncology and signed by at least one director of Audeo Oncology (or such other
evidence as the Court may request) stating, to the best of its knowledge, whether or not the conditions precedent set out in clause 3.1 (other than clause 3.1(e)) of the Scheme have been satisfied or waived, subject to the terms of the Demerger
Implementation Agreement as at 8.00 am on the Second Court Date. 
  

	5	Audeo Oncology obligations 

  

	5.1	Performance of obligations generally 

 Subject to clause 3, Audeo Oncology must comply with its obligations under the Demerger Implementation Agreement and must do all things necessary or desirable on its part to implement the Scheme.

  

	5.2	Obligation to update Audeo Oncology Register 

 As soon as practicable after the Implementation Date, Audeo Oncology must enter, or procure the entry, into the Audeo Oncology Register of: 

 

	 	(a)	each Scheme Shareholder (other than Ineligible Foreign Shareholders) or CDN (as relevant) in respect of the Audeo Oncology Shares transferred to the relevant Scheme
Shareholder or CDN (as relevant) under the Scheme; 

  

	 	(b)	each Scheme Shareholder (other than Ineligible Foreign Shareholders) in respect of the Audeo Oncology CDIs issued to the relevant Scheme Shareholder under the Scheme;
and 

  

	 	(c)	the Sale Facility Agent, as nominee for and on behalf of, the Ineligible Foreign Shareholders, in respect of the Audeo Oncology Shares or Audeo Oncology CDIs to which
those shareholders are entitled to under the Scheme. 

  

			
	7358706/4	  	page 51

	5.3	Confirmation dispatch of holding statements and transaction confirmations 

 

	 	(a)	In accordance with clauses 4.6 and 4.7 of the Scheme, as soon as practicable after the Implementation Date, Audeo Oncology must send: 

 

	 	(i)	to Scheme Shareholders that are entitled to and elect to receive Audeo Oncology Shares, transaction confirmations for the Audeo Oncology Shares to which they are
entitled; 

  

	 	(ii)	for Ineligible Foreign Shareholders: 

  

	 	(A)	to CDN, as the nominee for the Sale Facility Agent, transaction confirmations for the Audeo Oncology Shares which that Ineligible Foreign Shareholder would otherwise be
entitled; and 

  

	 	(B)	to the Sale Facility Agent as nominee for the Ineligible Foreign Shareholders, holding statements for the Audeo Oncology CDIs to which that Ineligible Foreign
Shareholder would otherwise be entitled; and 

  

	 	(iii)	for all other Scheme Shareholders: 

  

	 	(A)	to CDN as nominee for that Scheme Shareholder, transaction confirmations for the Audeo Oncology Shares to which that Scheme Shareholder would otherwise be entitled; and

  

	 	(B)	to that Scheme Shareholder, holding statements for the Audeo Oncology CDIs to which that Scheme Shareholder would otherwise be entitled, 

by prepaid post (in the case of holding statements) or first class post (in the case of transaction confirmations) to: 

 

	 	(iv)	in the case of Scheme Shareholders, their Registered Addresses, unless that Scheme Shareholder has directed otherwise, does not have a Registered Address or where
Alchemia and Audeo Oncology believe that such Scheme Shareholder is not known at their Registered Address; 

  

	 	(v)	in the case of the Sale Facility Agent, the address notified to Alchemia by the Sale Facility Agent; and 

 

	 	(vi)	in the case of CDN, the address notified to Alchemia by CDN. 

  

	 	(b)	In the case of Scheme Shares held in joint names: 

  

	 	(i)	any share certificates for Audeo Oncology Shares or holding statements for Audeo Oncology CDIs to be issued to Scheme Shareholders will be issued in the names of the
joint holders; and 

  

	 	(ii)	any cheque required to be paid to Ineligible Foreign Shareholders will be payable to the joint holders, and will be forwarded to the holder whose name appears first in
the Alchemia Register as at the Scheme Record Date. 

  

			
	7358706/4	  	page 52

	 	(c)	This clause 5.3 does not apply to a Scheme Shareholder (other than Ineligible Foreign Shareholders) who does not have a Registered Address, or where Alchemia and
Audeo Oncology believe that such Scheme Shareholder is not known at their Registered Address. 

  

	6	Audeo Oncology Warrants 

 Subject
to the listing of Audeo Oncology on NASDAQ on or before 31 December 2012, Audeo Oncology must as soon as practicable after Audeo Oncology is admitted to NASDAQ: 
  

	 	(a)	issue to each Investor; and 

  

	 	(b)	register each Investor as the holder of, 

 the number of Audeo Oncology Warrants (based on each Audeo Oncology Warrant entitling the Investor to subscribe for an Audeo Oncology Share) calculated as follows: 

 
 

 
 where: 
 a = Audeo Oncology Warrants; 
 b = 50% of the aggregate subscription price for the
First Tranche Shares and the Second Tranche Shares (if any) subscribed for by the Investor; and 
 c = 130% of the volume
weighted average price of Audeo Oncology Warrants over the 60 trading days immediately following Listing. 
  

	7	Representations and warranties 

Audeo Oncology represents and warrants that: 
  

	 	(a)	it is a company validly existing under the laws of Delaware, the United States; 

 

	 	(b)	it has the corporate power to enter into and perform its obligations under this document and to carry out the transactions contemplated by this document;

  

	 	(c)	it has taken all necessary corporate action to authorise the entry into this document and has taken or will take all necessary corporate action to authorise the
performance of this document and to carry out the transactions contemplated by this document; 

  

	 	(d)	this document is its valid and binding obligation enforceable in accordance with its terms; and 

  

			
	7358706/4	  	page 53

	 	(e)	the Audeo Oncology Shares to be issued pursuant to the Scheme will be validly issued, fully paid and free from any mortgage, charge, lien, encumbrance or other security
interest and will rank equally in all respects with all other Audeo Oncology Shares then on issue. 

  

	8	Continuing obligations 

 This
document is irrevocable and, subject to clause 3, remains in full force and effect until: 
  

	 	(a)	Audeo Oncology has completely performed its obligations under this document and the Demerger Implementation Agreement; or 

 

	 	(b)	this document is terminated in accordance with clause 3, 

 whichever comes first. 
  

	9	Stamp duty 

 Audeo Oncology will:

  

	 	(a)	pay all stamp duties and any related fines, interest and penalties in respect of or in connection with this document, the performance of this document and each
transaction effected by or made or any instrument executed under this document or the Scheme, including the transfer of Scheme Shares under the Scheme; and 

 

	 	(b)	indemnify each Scheme Shareholder on demand against any liability arising from its failure to comply with clause 9(a). 

 

	10	Notices 

  

	10.1	General 

 Any notice,
transfer, transmission, application, direction, demand, consent or other communication (Notice) given or made to Audeo Oncology under this document must be in writing in English and signed by the sender or a person duly authorised by the
sender. 
  

	10.2	How to give a Notice 

 A
Notice must be given to Audeo Oncology by being: 
  

	 	(a)	personally delivered; 

  

	 	(b)	left at Audeo Oncology’s current delivery address for notices; 

  

	 	(c)	sent to Audeo Oncology’s current postal address for notices by pre-paid ordinary mail or, if the address is outside Australia, by pre-paid airmail; or

  

	 	(d)	sent by fax to Audeo Oncology’s current fax number for notices. 

  

	10.3	Particulars for delivery of Notices 

 The particulars for delivery of Notices to Audeo Oncology are: 

  

			
	7358706/4	  	page 54

 Attention:
                    Tracie Ramsdale 
 Delivery address:         3 Hi Tech Court, Eight Mile Plains 
 Brisbane Queensland 4113 
 Postal address:
            Same as delivery address 
 Fax:
                            +61 7 3340 0222 

 

	10.4	Communications by post 

Subject to clause 10.6, a Notice is given if posted: 

 

	 	(a)	within Australia to an Australian postal address, three Business Days after posting; or 

 

	 	(b)	outside of Australia to an Australian postal address or within Australia to an address outside of Australia, ten Business Days after posting.

  

	10.5	Communications by fax 

Subject to clause 10.6, a Notice is given if sent by fax, when the sender’s fax machine produces a report that the fax
was sent in full to the addressee. That report is conclusive evidence that the addressee received the fax in full at the time indicated on that report. 
  

	10.6	After hours communications 

If a Notice is given: 
  

	 	(a)	after 5.00 pm in the place of receipt; or 

  

	 	(b)	on a day which is a Saturday, Sunday or bank or public holiday in the place of receipt, 

it is taken as having been given at 9.00 am on the next day which is not a Saturday, Sunday or bank or public holiday in that place.

  

	10.7	Process service 

 Any
process or other document relating to litigation, administrative or arbitral proceedings relating to this document may be served by any method contemplated by this clause 10 or in accordance with any applicable law. 

 

	11	General 

  

	11.1	Waiver 

 Failure to
exercise or enforce or a delay in exercising or enforcing or the partial exercise or enforcement of any right, power or remedy provided by law or under this document by any party will not in any way preclude, or operate as a waiver of, any exercise
or enforcement, or further exercise or enforcement of that or any other rights, power or remedy provided by law or under this document. A waiver is not valid or binding on the person granting that waiver unless made in writing. 

  

			
	7358706/4	  	page 55

	11.2	Cumulative rights 

 The
rights, powers and remedies of Audeo Oncology and of each Scheme Shareholder and Investor under this document are cumulative and do not exclude any other rights, powers or remedies provided by law or equity independently of this document.

  

	11.3	Amendment 

 A provision of
this document may not be varied unless: 
  

	 	(a)	if before the First Court Date, the variation is agreed to by Alchemia; or 

 

	 	(b)	if on or after the First Court Date, the variation is agreed to by Alchemia and the Court indicates that the variation would not of itself preclude approval of the
Scheme, 

 in which event Audeo Oncology must enter into a further deed poll in favour of the Scheme Shareholders
and Investors giving effect to that amendment. 
  

	11.4	Assignment 

 The rights
and obligations of Audeo Oncology and of each Scheme Shareholder and Investor under this document are personal and must not be assigned, encumbered or otherwise dealt with at law or in equity and no person may attempt, or purport, to do so without
the prior written consent of Audeo Oncology and Alchemia. 
  

	11.5	Severability 

 If the
whole or any part of a provision of this document is void, unenforceable or illegal in a jurisdiction it is severed for that jurisdiction. The remainder of this document has full force and effect and the validity or enforceability of that provision
in any other jurisdiction is not affected. This clause 11.5 has no effect if the severance alters the basic nature of this document or is contrary to public policy. 

 

	11.6	Further assurances 

 Audeo
Oncology will execute and deliver all documents and do all acts and things (on its own behalf and on behalf of each Scheme Shareholder and Investor) necessary or desirable to give full effect to this document and the transactions contemplated by it.

  

	11.7	Governing law and jurisdiction 

  

	 	(a)	This document is governed by and is to be construed in accordance with the laws applicable in Queensland, Australia. 

 

	 	(b)	Each party irrevocably and unconditionally submits to the non-exclusive jurisdiction of the courts exercising jurisdiction in Queensland, Australia, and any courts
which have jurisdiction to hear appeals from any of those courts, and waives any right to object to any proceedings being brought in those courts. 

  

			
	7358706/4	  	page 56

 Schedule 1 
  

	 	a.	Each warrant entitles the holder to subscribe for a fully paid share of common stock of Audeo Oncology, Inc. (the “Company”) (a
“Share”) upon exercise of the warrant and payment of the Exercise Price (defined below). 

  

	 	b.	Each warrant is exercisable for shares of common stock at an exercise price equal to 130% of the volume weighted average price of the Shares over the 60 trading days
immediately following the listing of the Company on a recognised securities exchange (the “Exercise Price”), payable in full on exercise of the warrant. 

 

	 	c.	The warrants vest and are exercisable from the date that is six months after the date of the initial public offering of the Company (the “IPO Date”)
until the date that is the later to occur of the following (the “Expiry Date”): 

  

	 	(i)	three years from IPO Date; and 

  

	 	(ii)	the earlier of: 

  

	 	(A)	six months from the date that the Company announces to the market the results for the primary end point of the Phase III clinical trial period for HA-Irinotecan in
colorectal cancer; and 

  

	 	(B)	five years from the IPO Date. 

 Any warrant not exercised prior to the Expiry Date, automatically expires on the Expiry Date. 
  

	 	d.	The Company must give the holder of each warrant a certificate or holding statement including these warrant terms and stating: 

 

	 	(i)	the number of warrants issued to each holder; 

  

	 	(ii)	the Exercise Price of the warrants; and 

  

	 	(iii)	the date of issue of the warrants. 

  

	 	e.	Warrants may only be exercised by the delivery to the registered office of the Company or its share registry of a certificate in the form attached as annexure A to
these warrant terms and a notice (the “Exercise Notice”) in writing stating the intention of the holder to: 

  

	 	(i)	exercise all or a specified number of warrants; and 

  

	 	(ii)	either pay the Exercise Price in cash for the exercise of each such warrant or elect a cashless exercise for the exercise of each such warrant.

  

	 	f.	The Exercise Notice must be accompanied by the certificate or holding statement for the warrants being exercised, if not a cashless exercise, and a cheque made payable
to the Company for the Exercise Price for the warrants being exercised. 

  

	 	g.	In lieu of paying the Exercise Price in cash for the exercise of each warrant, if the fair market value of one share of common stock is greater than the Exercise Price,
the holder may elect a cashless exercise of the warrant. 

  

	 	h.	The warrants will be deemed to have been exercised on the date the Exercise Notice is received by the Company or the share registry. 

 

	 	i.	 The Company will allot the Shares to which a holder is entitled following exercise

  

			
	7358706/4	  	page 57

 
of warrants and deliver a holding statement with respect to such Shares within the timeframe required by the listing rules of the exchange on which the Company is listed. 

 

	 	j.	The exercise of only some portion of a warrant will not affect the rights of the holder to the balance of the warrants held by them. 

 

	 	k.	If the holder of the warrants exercises less than the total number of warrants registered in the holder’s name: 

 

	 	(i)	the holder of the warrants must surrender its warrant certificate, if one has been issued by the Company; and 

 

	 	(ii)	the Company must cancel the warrant and issue the holder of the warrants a new warrant or holding statement stating the remaining number of warrants held by the holder
and stating the information set out in item (d) above. 

  

	 	l.	Warrants will not confer an entitlement to receive dividends declared and paid by the Company, nor an entitlement to vote at general meetings of the Company unless the
holder of the warrants has exercised its warrants before the record date for determining these entitlements and participates as a result of holding Shares. 

 

	 	m.	Each Share issued on exercise of an warrant will: 

  

	 	(i)	rank equally in all respects (including, without limitation, rights relating to dividends) with other issued Shares; 

 

	 	(ii)	be issued credited as fully paid; 

  

	 	(iii)	be duly authorised and issued by all necessary corporate action; and 

  

	 	(iv)	be allotted and issued free from all liens, charges and encumbrances whether known about or not including statutory and other pre-emption rights and any transfer
restrictions. 

  

	 	n.	The Company will apply to the exchange on which the Company is listed for official quotation of the Shares issued upon exercise of warrants within the time period
required by the listing rules of the exchange on which the Company is listed. 

  

	 	o.	The warrants are not transferable without the prior written consent of the Company, which shall not be unreasonably withheld only where all warrants held by the holder
are transferred to a related body corporate of the holder (or, in the case of a custodian of a fund, a custodian of a fund with the same manager), that: 

  

	 	(i)	the Company is satisfied (acting reasonably) is a permitted transferee under applicable securities law without additional disclosure or other regulatory requirements on
either the transferor or the Company; 

  

	 	(ii)	has provided any written certification or other evidence of their sophisticated/professional/exempt investor status, reasonably requested by the Company; and

  

	 	(iii)	has agreed in writing to be bound by these warrant terms (including, if required by the Company, delivering a certificate in the form attached as annexure A to these
warrant terms on exercise of the warrants). 

  

	 	p.	A holder of warrants does not have the right to participate in bonus issues or new issues of securities offered to shareholders until Shares are allotted to the holder
pursuant to the exercise of the relevant warrants. 

  

			
	7358706/4	  	page 58

	 	q.	After the listing of the Company on a securities exchange, and in the event of a reorganisation (including, without limitation, consolidation, sub-division, reduction
or return) of the capital of the Company, the rights of the holders of warrants (including, without limitation, the number of warrants to which the warrant holder is entitled and the exercise price) will be changed (as appropriate) in accordance
with the listing rules of the exchange on which the Company is listed applying to a reorganisation of capital at the time of the reorganisation. 

  

	 	r.	If after the listing of the Company on a securities exchange, the Company makes a pro rata issue (other than a bonus issue) to existing shareholders and no Shares have
been issued in respect of the warrants before the record date for determining entitlements to the issue, the Exercise Price of each warrant will be reduced in the manner permitted by the listing rules of the exchange on which the Company is listed.

  

	 	s.	If after the listing of the Company on a securities exchange, the Company makes a bonus issue to existing shareholders and no Share has been issued in respect of a
warrant before the record date for determining entitlements to the issue, then the number of Shares over which that warrant is exercisable will be increased in the manner permitted by the listing rules of the exchange on which the Company is listed.

  

	 	t.	The Company is entitled to treat the registered holder of a warrant as the absolute holder of that warrant and is not bound to recognise any equitable or other claim
to, or interest in, that warrant on the part of any person other than the registered holder, except as ordered by a court of competent jurisdiction or as required by statute. 

 

	 	u.	If the Company is obliged to make a payment in respect of withholding tax in relation to the warrants, the Company must: 

 

	 	(i)	promptly pay any amount deducted to the appropriate governmental taxation authority; 

 

	 	(ii)	if requested by the warrant holder, within 30 days after that request, give to that warrant holder a copy of the relevant documentation evidencing the payment; and

  

	 	(iii)	issue the warrant holder the net number of warrants after making the payment. 

  

			
	7358706/4	  	page 59

 Annexure A 
 Certificate for warrant holders 
 By executing this Investor Certificate in favour of Audeo
Oncology, Inc. (the “Company”), the undersigned (“holder”) represents, warrants and covenants to the Company, and acknowledges that the Company is relying thereon, that: 

 

	(a)	if the YES box is checked, it is not a U.S. person and is not acquiring the securities for the benefit of any U.S. person; 

YES   ̈
                    No   ̈ 

 

	(b)	if the YES box is checked, it is an institutional “Accredited Investor” as defined in Rule 501(a)(1), (2) (3) or (7) under the U.S. Securities
Act of 1933, as amended (the “1933 Act”); 

YES   ̈            
        No   ̈ 
  

	(c)	it understands that the shares of common stock of the Company (the “Shares”) to be issued upon exercise of the warrants (the
“Warrants”) have not been (and will not be) registered under the 1933 Act or any applicable state securities laws, and that the contemplated issue of Shares is being made in reliance on a private placement exemption available under
the 1933 Act which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of the holder’s representations, warranties and covenants as expressed herein and the Company is under no obligation to register
any subsequent proposed resale of the shares by the holder; and the holder agrees not to engage in hedging transactions with regard to such Shares unless in compliance with the Act: 

 

	(d)	it understands that the issue of Shares on exercise of a Warrant is not intended to be part of a public offering and that it will not be able to rely on the protection
of Section 11 of the 1933 Act; 

  

	(e)	it is acquiring the Shares for its own account and not with a view to any resale, distribution or other disposition (to the extent possible) of the Shares in violation
of U.S. federal or state securities laws, and it is not an underwriter with respect to the Shares within the meaning of Section 2(a) (11) of the 1933 Act; 

 

	(f)	it has had an opportunity to discuss the Company’s business, management, financial affairs and the terms and conditions of the issue of Shares on exercise of a
Warrant with the Company’s management and has had access to such additional information, if any, concerning the Company as it has considered necessary or appropriate in connection with its investment decision to exercise the Warrants;

  

	(g)	it is aware of the characteristics of the Shares, the risks relating to an investment therein and agrees that the holder must bear the economic risk of its investment
in the Shares and the holder acknowledges that it can bear the economic risk of its investment and is able, without impairing its financial condition, to hold the Shares for an indefinite period of time and to suffer a complete loss of its
investment;

  

	(h)	it alone, or with the assistance of its professional advisors, has such knowledge in financial and business affairs as to be capable of evaluating the merits and risks
of the holder’s proposed investment in the Shares; 

  

			
	7358706/4	  	page 60

	(i)	it agrees that if it decides to sell or otherwise transfer (to the extent possible) any Shares, it will only do so only if the offer and sale (to the extent possible)
of such Shares is (i) registered under the 1933 Act (which the holder acknowledges the Company has no obligation to do); (ii) made pursuant to an exemption from registration under the Act, or (iii) made in standard (regular way)
brokered transactions on the exchange on which the Shares are listed, provided that such exchange is a “designated offshore securities market” as defined in Regulation S under the 1933 Act (“Regulation S”)
(“Exchange”) in offshore transactions that qualifies for the exemption available under Regulation S where neither it nor any person acting on its behalf knows, or has reason to know, that the sale has been pre-arranged with, or that
the purchaser is, a person in the United States; 

  

	(j)	it is not engaged in the business of distributing securities or, if it is, it agrees that it will not offer or sell in the United States (i) any Shares it acquires
at any time or (ii) any ordinary shares of the Company that it may acquire other than as a result of exercising Warrants until one year after the relevant date of issue or transfer, except in either of cases (i) or (ii), in a transaction
exempt from the registration requirements of the 1933 Act. Notwithstanding the foregoing, it may sell Shares in standard (regular way) brokered transactions on the Exchange in offshore transactions in accordance with Regulation S where neither it
nor any person acting on its behalf knows, or has reason to know, that the sale has been pre-arranged with, or that the purchaser is, a person in the United States; 

 

	(k)	it understands that the Shares will constitute “restricted securities” within the meaning of Rule 144(a)(3) under the 1933 Act and it will not deposit such
Shares into any unrestricted depositary receipt facility established or maintained by a depositary bank unless and until such time as such Shares are no longer “restricted securities” within the meaning of Rule 144(a)(3) of the 1933 Act;

  

	(l)	it is not acquiring the Shares as a result of any “general solicitation or general advertising” (as those terms are used in Regulation D under the 1933 Act),
including, but not limited to, any advertisements, articles, notices or other communications published in any newspaper, magazine or similar media or on the Internet or broadcast over radio, television or the Internet, or any seminar or meeting
whose attendees have been invited by general solicitation or general advertising, and it has a pre-existing business relationship with the Company; 

  

	(m)	it is aware that (i) acquiring, holding and disposing (to the extent possible) of the Shares may have tax consequences under the laws of both Australia and the
United States and (ii) it is solely responsible for determining the tax consequences applicable to its particular circumstances and should consult its own tax advisors concerning investment in such securities; 

 

	(n)	if the holder is an employee benefit plan but is not an investor which is subject to the prohibited transaction rules of Section 4975 of the U.S. Internal Revenue
Code of 1986 (the “Code”) or the fiduciary responsibility provisions of the U.S. Employee Retirement Security Act of 1974 (“ERISA”) (such an investor, a “Benefit Plan Investor”), the acquisition and
holding of the Shares by the holder complies with all applicable laws governing the holder, is in accordance with the holder’s governing documents, and will not result in the assets of the Company being treated as the “plan assets” of
the holder under applicable law; 

  

	(o)	 if the holder is a Benefit Plan Investor, (i) the holder’s commitment to purchase the Shares does not, in the aggregate, constitute more than
10% of the fair market value of the holder’s assets, (ii) the acquisition and holding of the Shares by the holder complies with all applicable requirements of ERISA, the Code and other

  

			
	7358706/4	  	page 61

	 	
applicable laws governing the holder and is in accordance with the holder’s governing documents, (iii) the acquisition and holding of the Shares by the holder either does not constitute
a prohibited transaction under Section 406 of ERISA or Section 4975 of the Code, or one or more statutory or administrative exemptions from the prohibited transaction rules of ERISA and the Code is applicable to such acquisition and
holding and (iv) the holder agrees to provide to the Company, in writing, all additional information that the Company may reasonably request in order to avoid violations of any provision of ERISA and to determine whether the holder meets the
suitability standards for ownership of the Shares; and 

  

	(p)	it agrees that the Warrants have been issued to it in satisfaction in full of Alchemia Limited’s or Alchemia Oncology Pty Ltd’s obligation (if any) to issue
options to you under the subscription agreement between you and Alchemia Limited and Alchemia Oncology Pty Ltd dated on or about 5 November 2011. 

 Details of holder and authorised signatory 
  

					
		
	Holder:	  	  

		
	Signature (authorised signatory):
                                         
        Date:	  	  

		
	Name:	  	  

		
	Title:	  	  

  

  

			
	7358706/4	  	page 62

 Schedule 2 
 Investors 
  

	 	1.	ABN AMRO CLEARING SYDNEY 

  

	 	2.	ANTIOCH INVESTMENTS AUSTRALIA 

  

	 	3.	ARMADA TRADING PTY LIMITED 

  

	 	4.	ASIA UNION INVESTMENTS 

  

	 	5.	AUST EXECUTOR TRUSTEES NSW LTD 

  

	 	6.	BERNE NO 132 NOMINEES PTY LTD 

  

	 	7.	BERNE NO 132 NOMINEES PTY LTD 

  

	 	8.	BERNE NO 132 NOMINEES PTY LTD 

  

	 	9.	BOUSSAL PTY LTD 

  

	 	10.	BRYLET PTY LIMITED 

  

	 	11.	C B C SECURITIES PTY LIMITED 

  

	 	12.	CAWDOR-CRAIGNISH PTY LTD 

  

	 	13.	CITICORP NOMINEES PTY LIMITED 

  

	 	14.	CLEM JONES PTY LTD 

  

	 	15.	CRAIMAR INVESTMENTS PTY 

  

	 	16.	DEHORS HOLDINGS PTY LTD 

  

	 	17.	DR BRIAN HARRY LOCKHART GIBSON 

  

	 	18.	DR SIAVASH ES’HAGHI & 

  

	 	19.	ELSCLIFF PTY LTD 

  

	 	20.	GILLILODGE PTY LIMITED 

  

	 	21.	GREENWICH STREET PTY LTD 

  

	 	22.	HARBURG NOMINEES PTY LTD 

  

	 	23.	HATTONGROVE PTY LTD 

  

	 	24.	HSBC CUSTODY NOMINEES 

  

	 	25.	HSBC CUSTODY NOMINEES (AUSTRALIA) LIMITED-GSCO ECA 

  

	 	26.	INDLETRAN PTY LIMITED 

  

	 	27.	J P MORGAN NOMINEES AUSTRALIA 

  

	 	28.	JAGEN PTY LTD 

  

	 	29.	JP MORGAN NOMINEES AUSTRALIA 

  

	 	30.	JULIBER PTY LTD 

  

	 	31.	LALIBER PTY LTD 

  

	 	32.	LITTLE OWL CAPITAL PTY LTD 

  

	 	33.	M E J C PTY LTD 

  

	 	34.	MAXIM SUPER FUND PTY LTD 

  

	 	35.	MISS JOSEPHINE MYRA LITTLE 

  

	 	36.	MITCHELLDANGAR PTY LTD 

  

	 	37.	MIZPOCHA PTY LTD 

  

	 	38.	MONTOYA PTY LTD 

  

	 	39.	MR ANDREW GEORGE MALUISH & 

  

	 	40.	MR ANTHONY STEPHEN WALL & 

  

	 	41.	MR BRIAN GERARD SHEAHAN 

  

	 	42.	MR CONSTANTINE CHRISTOFIDES & 

  

	 	43.	MR DALLAS JOHN WILLIAM ALLMAN 

  

	 	44.	MR DARREN JOHN THOMPSON & 

  

	 	45.	MR DAVID FREDERICK OAKLEY 

  

			
	7358706/4	  	page 63

	 	46.	MR DEREK ROBERT MC COMBER & 

  

	 	47.	MR GREGORY WAYNE BROWN 

  

	 	48.	MR JAMES MARK STEPHANOS & 

  

	 	49.	MR JAMIE PHEROUS 

  

	 	50.	MR JOHN WIEN-SMITH 

  

	 	51.	MR LEGH DAVIS & 

  

	 	52.	MR MATTHEW EDWARD CLARKE 

  

	 	53.	MR NIGEL PAUL ST CLAIR EMSLIE 

  

	 	54.	MR PAUL ROSS NUTTER & 

  

	 	55.	MR PETER JAMES COLEMAN & 

  

	 	56.	MR PETER RONALD MORRISON & 

  

	 	57.	MR PHILIP ANDREW THICK 

  

	 	58.	MR PHILIP JOHN LEE & 

  

	 	59.	MR ROGER WILLIAM LEANING 

  

	 	60.	MR SCOTT WILLIAM DUGGAN & 

  

	 	61.	MR SCOTT WILLIAM POWER & 

  

	 	62.	MR SIMON PETER FERGUSON & 

  

	 	63.	MR THOMAS WILLIAM MAlchemiaEAN 

  

	 	64.	MRS FIONA RICHARDSON 

  

	 	65.	MRS GAIL IRENE WISSEMANN 

  

	 	66.	MRS KAREN GRETA MARTIN 

  

	 	67.	MRS LORRAINE DAWN HAYDEN 

  

	 	68.	MRS LOTTE KATRINA TURLEY 

  

	 	69.	MRS VIOLETA TODOROVA 

  

	 	70.	NATIONAL NOMINEES LIMITED 

  

	 	71.	NILIBER PTY LTD 

  

	 	72.	PAWGRIF PTY LTD 

  

	 	73.	PHILLIP ASSET MANAGEMENT LTD 

  

	 	74.	PINWILLOW PTY LTD 

  

	 	75.	PLANETTE THOROUGHBRED TRADING 

  

	 	76.	PLASMA EQUITIES RESEARCH PTY 

  

	 	77.	REDLICH SUPERANNUATION FUND 

  

	 	78.	RESHAPE PTY LTD 

  

	 	79.	ROSHERVILLE PTY LTD 

  

	 	80.	S G TURLEY NOMINEES PTY LTD 

  

	 	81.	T B I C PTY LTD 

  

	 	82.	THE TRUST COMPANY 

  

	 	83.	TIMBINA PTY LTD 

  

	 	84.	TRINA INVESTMENTS PTY LTD 

  

	 	85.	TROPICAL HARVEST PTY LTD 

  

	 	86.	UBS NOMINEES PTY LTD 

  

	 	87.	VANDALEX PTY LTD 

  

	 	88.	X F INVESTMENTS PTY LTD 

  

			
	7358706/4	  	page 64

 Executed as a deed poll in Queensland, Australia. 

 

	
	 Executed by Audeo Oncology, Inc.

	
	  

	 Signature

	
	  

	 by (print name)

	
	  

	 its (print title)

  

			
	7358706/4	  	page 65Transition Services Agreement

 Exhibit 10.13 

 

									
		  	 
  
  
  
  
  
	Waterfront Place

1 Eagle Street Brisbane QLD 4000
 GPO Box 9925 QLD 4001
 Tel (07) 3228 9333

Fax (07) 3228 9444

www.corrs.com.au
	  
   

  
   

  

  
	  	 	

 	  
			
		  				  	 
  
  
  
	Sydney
 Melbourne

Brisbane

Perth
	  
   

  
   

  
  

Alchemia Limited 
  

 
 Audeo Oncology, Inc. 

 
  
 Transition Services Agreement 
 Ref: SD/JAEN ALCH16282-9082438 7391929/2 

 
 © Corrs Chambers Westgarth 

 Contents 
  

							
			
	 1
	 	Interpretation	  	 	1	  
			
		 	 1.1    Demerger Deed
	  	 	1	  
		 	 1.2    Definitions
	  	 	1	  
		 	 1.3    Interpretation
	  	 	2	  
		 	 1.4    Joint and several liability
	  	 	3	  
		 	 1.5    Separate obligations
	  	 	3	  
			
	 2
	 	Term	  	 	3	  
			
		 	 2.1    Commencement Date
	  	 	3	  
		 	 2.2    Expiry date
	  	 	4	  
			
	 3
	 	Services	  	 	4	  
			
	 4
	 	Fees and payment	  	 	4	  
			
		 	 4.1    Transition Services
	  	 	4	  
		 	 4.2    Invoicing
	  	 	4	  
		 	 4.3    Invoices for Monthly Service Charge
	  	 	4	  
		 	 4.4    Changes in scope and fees
	  	 	4	  
		 	 4.5    Payment and interest
	  	 	6	  
			
	 5
	 	Limitations to Transition Services	  	 	6	  
			
		 	 5.1    Acknowledgment
	  	 	6	  
		 	 5.2    Manner of performance
	  	 	6	  
			
	 6
	 	Transition process	  	 	6	  
			
	 7
	 	Access, privacy and confidentiality	  	 	6	  
			
		 	 7.1    Access
	  	 	6	  
		 	 7.2    Privacy
	  	 	7	  
		 	 7.3    No disclosure of Confidential Information
	  	 	7	  
		 	 7.4    Return of Confidential Information upon termination
	  	 	8	  
			
	 8
	 	Provision of Transition Services	  	 	8	  
			
		 	 8.1    Nature of relationship
	  	 	8	  
		 	 8.2    Obligations of Alchemia
	  	 	8	  
		 	 8.3    Obligations of Audeo Oncology
	  	 	9	  
		 	 8.4    Leave during provision of services
	  	 	9	  
		 	 8.5    Termination of employment
	  	 	9	  
		 	 8.6    No offers of employment
	  	 	9	  
		 	 8.7    Intellectual Property
	  	 	10	  
		 	 8.8    Alchemia Indemnity
	  	 	10	  
			
	 9      
	 	Secondment	  	 	10	  
			
		 	 9.1    Notification to Secondees
	  	 	10	  
		 	 9.2    Period of Secondment
	  	 	10	  
		 	 9.3    Nature of relationship
	  	 	11	  
		 	 9.4    Secondment position
	  	 	11	  

  
  

7391929/2 

  

							
		 	 9.5    Obligations of Alchemia
	  	 	11	  
		 	 9.6    Secondment Fee
	  	 	11	  
		 	 9.7    Obligations of Audeo Oncology
	  	 	12	  
		 	 9.8    Leave during Secondment
	  	 	12	  
		 	 9.9    Human resources issues
	  	 	12	  
		 	 9.10 No offers of employment
	  	 	13	  
		 	 9.11 Intellectual Property
	  	 	13	  
		 	 9.12 Confidentiality
	  	 	13	  
		 	 9.13 Sharing of Information
	  	 	13	  
		 	 9.14 Insurance
	  	 	13	  
		 	 9.15 Workplace health and safety
	  	 	14	  
		 	 9.16 Alchemia Indemnity
	  	 	14	  
			
	 10    
	 	Limitation of liability and warranties	  	 	15	  
			
		 	 10.1 No liability
	  	 	15	  
		 	 10.2 Limitation of liability
	  	 	15	  
		 	 10.3 Maximum liability
	  	 	15	  
		 	 10.4 Exclusion of liability
	  	 	15	  
		 	 10.5 Time limit
	  	 	16	  
		 	 10.6 No warranties
	  	 	16	  
		 	 10.7 Competition and Consumer Act
	  	 	16	  
		 	 10.8 Mutual representations and warranties
	  	 	16	  
			
	 11
	 	Force majeure	  	 	16	  
			
		 	 11.1 Notification
	  	 	16	  
		 	 11.2 Action to be taken
	  	 	17	  
			
	 12
	 	GST	  	 	17	  
			
		 	 12.1 Construction
	  	 	17	  
		 	 12.2 Consideration GST exclusive
	  	 	17	  
		 	 12.3 Payment of GST
	  	 	17	  
		 	 12.4 Timing of GST payment
	  	 	17	  
		 	 12.5 Tax invoice
	  	 	18	  
		 	 12.6 Adjustment event
	  	 	18	  
		 	 12.7 Reimbursements
	  	 	18	  
		 	 12.8 No Merger
	  	 	18	  
			
	 13
	 	Relationship with Demerger Deed	  	 	18	  
			
		 	 13.1 Inconsistency
	  	 	18	  
		 	 13.2 Breach or termination
	  	 	18	  
			
	 14
	 	Termination	  	 	18	  
			
		 	 14.1 Termination
	  	 	18	  
		 	 14.2 Termination by Alchemia
	  	 	18	  
		 	 14.3 Termination by Audeo Oncology
	  	 	19	  
		 	 14.4 Termination of agreement for cause
	  	 	19	  
		 	 14.5 Termination for insolvency
	  	 	19	  
		 	 14.6 Mutually agreed termination
	  	 	19	  
		 	 14.7 Consequences of termination
	  	 	19	  

  

			
	 7391929/2
	 	page ii

							
		 	 14.8 Payment of outstanding fees
	  	 	19	  
		 	 14.9 Continuing clauses
	  	 	20	  
			
	 15    
	 	General	  	 	20	  
			
		 	 15.1 Entire understanding
	  	 	20	  
		 	 15.2 Further assurances
	  	 	20	  
		 	 15.3 No waiver
	  	 	20	  
		 	 15.4 Severability
	  	 	20	  
		 	 15.5 Successors and assigns
	  	 	21	  
		 	 15.6 No Assignment
	  	 	21	  
		 	 15.7 Consents and approvals
	  	 	21	  
		 	 15.8 Amendments
	  	 	21	  
		 	 15.9 Costs and duties
	  	 	21	  
		 	 15.10 Notices
	  	 	21	  
		 	 15.11 Subcontracting
	  	 	22	  
		 	 15.12 Relationship of the parties
	  	 	22	  
		 	 15.13 Counterparts
	  	 	23	  
		 	 15.14 Governing law and jurisdiction
	  	 	23	  
		
	 Schedule 1 — Transition Services
	  	 	24	  
		
	 Schedule 2 — Letter to Secondees
	  	 	25	  

  

			
	 7391929/2
	 	page iii

 Date 
 Parties 
 Alchemia Limited ACN 071 666 334 of Eight Mile Plains, Brisbane,
Queensland 4113 (Alchemia) 
 Audeo Oncology, Inc., a Delaware incorporated company (Audeo Oncology)

 Background 
  

	A	Under the Demerger Deed, Alchemia and Audeo Oncology have agreed to demerge Audeo Oncology from the Alchemia Group. 

 

	B	As required by Alchemia, Audeo Oncology agrees to provide or procure the provision of the Transition Services for the Term and the Secondees for the first 6 months of
the Term to Alchemia on the terms of this document. 

 Agreed terms 

 

	1	Interpretation 

  

	1.1	Demerger Deed 

 Terms
defined in the Demerger Deed have the same meaning in this document unless defined otherwise. 
  

	1.2	Definitions 

 In this
document, unless the context otherwise requires: 
 Board means the board of directors of Alchemia. 

Demerger Deed means the demerger deed dated on or about the date of this document between Alchemia and Audeo Oncology describing
the transitional arrangements and ongoing relationship between Alchemia and Audeo Oncology. 
 Force Majeure anything
outside the reasonable control of a party, including but not limited to, acts of God, fire, storm, flood, earthquake, explosion, accident, acts of the public enemy, war, rebellion, insurrection, sabotage, epidemic, quarantine restriction, industrial
action, or any act or omission of any government or Government Agency. 

  

			
	 7391929/2
	 	page 1

 Government Agency means any government or any governmental, semi-governmental or
judicial entity or authority. It also includes any self-regulatory organisation established under statute or any stock exchange. 
 Implemented has the meaning given to that term in the Demerger Implementation Agreement. 
 Insolvency Event means in respect of a party (other than for the purpose of solvent reconstruction or amalgamation): 
  

	 	(a)	a receiver, receiver and manager, liquidator, provisional liquidator, trustee, administrator, controller, inspector appointed under any companies or securities
legislation, or another similar official, is appointed in respect of that party or any of its property, or any security is enforced over any substantial part of its assets; 

 

	 	(b)	the party ceases to carry on all or substantially all of its business, is unable to pay its debts when due, or is deemed unable to pay its debts under any law, or makes
an assignment for the benefit of, or enters into or makes any arrangement or compromise with, that party’s creditors or threatens to do so, or stops payments to its creditors generally; 

 

	 	(c)	the party is, becomes, or is deemed to be insolvent or bankrupt; or 

  

	 	(d)	a distress, attachment or other execution is levied or enforced upon or commenced against any substantial part of its assets and is not stayed within 14 days.

 Out-of-Pocket Expenses means Audeo Oncology’s or an Audeo Oncology employee’s reasonable
out-of-pocket expenses incurred in providing the Transition Services, including travel and accommodation. 
 Monthly Service
Charge means: 
  

	 	(a)	for the first 6 month of the Term, $18,000 payable by Alchemia for the provision of the Transition Services, plus Out-of-Pocket Expenses; and 

 

	 	(b)	after the first 6 month of the Term, $2,043 payable by Alchemia for the provision of the Transition Services, plus Out-of-Pocket Expenses, 

as varied from time to time in accordance with the terms of this documents. For the avoidance of doubt, the Monthly Service Charge is
exclusive of the Secondment Fee set out in clause 9.6. 
 Secondment means the secondment of the Secondees from
Alchemia to Audeo Oncology. 
 Secondees means Peter Smith and Charles Walker. 

Term means the period set out in clause 2. 
 Transition Services means any of the services set out in the schedule. 
  

	1.3	Interpretation 

 In this
document, unless the context requires otherwise: 
  

	 	(a)	the singular includes the plural and vice versa; 

  

			
	 7391929/2
	 	page 2

	 	(b)	a gender includes the other genders; 

  

	 	(c)	the headings are used for convenience only and do not affect the interpretation of this document; 

 

	 	(d)	other grammatical forms of defined words or expressions have corresponding meanings; 

 

	 	(e)	no rule of construction will apply to the disadvantage of a party because that party drafted, put forward or would benefit from any term; 

 

	 	(f)	a reference to a document includes the document as modified from time to time and any document replacing it; 

 

	 	(g)	if something is to be done on a day which is not a Business Day then it must be done on the next Business Day; 

 

	 	(h)	the word “person” includes a natural person and any body or entity whether incorporated or not; 

 

	 	(i)	the word “month” means calendar month and the word “year” means 12 months; 

 

	 	(j)	the words “in writing” include any communication sent by letter, facsimile transmission or email or any other form of communication capable of being read by
the recipient; 

  

	 	(k)	a reference to all or any part of a statute, rule, regulation or ordinance (statute) includes that statute as amended, consolidated, re-enacted or replaced from time to
time; 

  

	 	(l)	wherever “include” or any form of that word is used, it must be construed as if it were followed by “(without being limited to)”;

  

	 	(m)	money amounts are stated in Australian currency unless otherwise specified; and 

 

	 	(n)	a reference to any agency or body, if that agency or body ceases to exist or is reconstituted, renamed or replaced or has its powers or functions removed (defunct
body), means the agency or body which performs most closely the functions of the defunct body. 

  

	1.4	Joint and several liability 

 Any provision in this document which binds more than one person binds all of those persons jointly and each of them severally. 

 

	1.5	Separate obligations 

Each obligation imposed on a party by this document in favour of another is a separate obligation. 

 

	2	Term 

  

	2.1	Commencement Date 

 This
document commences on the Implementation Date. 

  

			
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	2.2	Expiry date 

 This
document will continue until terminated in accordance with clause 14. 
  

	3	Services 

 Conditional upon the
Scheme being Implemented, Audeo Oncology will provide the Transition Services to Alchemia: 
  

	 	(a)	for the first 6 months of the Term, for 2 days per week (by 2 people working 1 day per week each); and 

 

	 	(b)	after the first 6 month of the Term, for 1 day per week (by 1 person working 1 day per week), 

and otherwise in accordance with the terms of this document. 

 

	4	Fees and payment 

  

	4.1	Transition Services 

 In
consideration of the performance of any Transition Services in any month during the Term by Audeo Oncology, Alchemia must pay Audeo Oncology the Monthly Service Charge invoiced to it in accordance with the terms of this document. 

 

	4.2	Invoicing 

 Following the
end of each calendar month during the Term, Audeo Oncology will issue an invoice to Alchemia for the Monthly Service Charge. 
  

	4.3	Invoices for Monthly Service Charge 

  

	 	(a)	Each invoice for the Monthly Service Charge will set out for the relevant month: 

 

	 	(i)	the Monthly Service Charge; and 

  

	 	(ii)	all associated Out-of-Pocket Expenses. 

  

	 	(b)	If reasonably required, Alchemia may request Audeo Oncology to provide: 

  

	 	(i)	further information setting out in reasonable detail the tasks undertaken by or on behalf of Audeo Oncology over the preceding month; and 

 

	 	(ii)	a statement setting out in reasonable detail the calculation of the amounts shown in the invoice so that they can be determined to be in accordance with the provisions
of this document. 

  

	4.4	Changes in scope and fees 

  

	 	(a)	 A party may request a review of the Monthly Service Charge if that party considers that the relevant Audeo Oncology employee is engaged in providing
the relevant Transition Services to a greater or lesser extent than that contemplated in the Monthly Service Charges. 

  

			
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	 	(b)	If a party requests a fee review under clause 4.4(a), the parties will negotiate in good faith to agree revised fee arrangements within 10 days of the date that
the party requested the fee review under clause 4.4(a) (Fee Review Request Date). 

  

	 	(c)	If the parties are unable to agree revised fee arrangements under clause 4.4(b), the parties must endeavour to agree upon the appointment of a suitably qualified
and experienced person to determine the revised fee arrangements (Expert). 

  

	 	(d)	If the parties are unable to agree upon the appointment of an Expert within 20 days of the Fee Review Request Date, then the Expert will be the first person on the list
of potential suitably qualified and experienced nominees provided by the President (or Acting President) for the time being of the Institute of Chartered Accountants of Australia at the request of Audeo Oncology. 

 

	 	(e)	If the Expert is determined under clause 4.4(d), the parties must comply with, and do all things necessary to satisfy and to give effect to, the reasonable
requirements of that person (including providing relevant indemnities and paying any charges or fees (which charges or fees will be borne by the parties as to 50% each)). 

 

	 	(f)	The Expert must be engaged on terms which require the Expert to use the Expert’s best endeavours to make a determination within 10 days after the Expert’s
appointment, or such other timeframes as the parties may agree. 

  

	 	(g)	The Expert will determine the revised fee arrangements, as at the Fee Review Request Date, on the following basis: 

 

	 	(i)	the fee that would have been paid by a knowledgeable and willing (but not anxious) recipient of the relevant Transition Services to a knowledgeable and willing (but not
anxious) provide of relevant Transition Services dealing at arm’s length; and 

  

	 	(ii)	otherwise the valuation methodologies to be applied are to be determined by the Expert in its own discretion, taking into account usual and prudent industry practices.

  

	 	(h)	Unless there is a manifest error, the Expert’s determination will not be capable of review or appeal, and will be final and binding upon the parties.

  

	 	(i)	In making the determination, the Expert will be deemed to be acting as an expert and not as an arbitrator, and the laws relating to commercial arbitration will not
apply to the Expert, the Expert’s determination or the means by which the Expert makes the determination. 

  

			
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	 	(j)	Each party will be entitled to submit such evidence to the Expert as the Expert may reasonably allow or require, and will provide all information (written or oral)
which the Expert may reasonably request, provided that: 

  

	 	(i)	all oral evidence must be presented in the presence of the other parties; and 

 

	 	(ii)	copies of all written evidence must be given to all other parties. 

  

	 	(k)	The Expert may consult such legal, technical and financial experts as the Expert, in his or her absolute discretion, thinks fit. 

 

	 	(l)	The costs of the Expert, and of any legal, technical and financial experts consulted by the Expert, will be borne by the parties as to 50% each.

  

	4.5	Payment and interest 

  

	 	(a)	A party must pay fees under this document 14 days after the month in which the invoice was received for such services. 

 

	 	(b)	No interest will be payable by a party if that party fails to pay on the due date any amount which that party is obliged to pay under this document.

  

	5	Limitations to Transition Services 

  

	5.1	Acknowledgment 

 The
parties agree that the limitations in this clause 5 apply with respect to the provision or procurement of the provision of the relevant Transition Services. 
  

	5.2	Manner of performance 

Audeo Oncology will use reasonable endeavours to perform or have performed the Transition Services consistent with practices in effect
with respect to the provision of like services by or to Alchemia in the 6 months prior to the Implementation Date, including with respect to the type, quality and timeliness of such the Transition Services. 

 

	6	Transition process 

 Alchemia and
Audeo Oncology must each use all reasonable endeavours and act in close consultation and cooperation with each other to enable Alchemia to become independent of Audeo Oncology with respect to the Transition Services as soon as commercially
practicable, and in any event no later than the end of the Term. 
  

	7	Access, privacy and confidentiality 

  

	7.1	Access 

  

	 	(a)	Each party must provide the other party with reasonable access to its personnel, premises and assets to the extent reasonably required to receive the relevant
Transition Services under this document. 

  

			
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	 	(b)	The parties acknowledge that each party will be entitled to provide direction to personnel of the other parties to the extent reasonably necessary to facilitate receipt
or performance of the relevant Transition Services. 

  

	 	(c)	Each party must maintain adequate security measures and procedures to prevent unauthorised access to, or use of, the relevant Transition Services and must take all
measures reasonably required by the other parties. 

  

	 	(d)	Each party must follow documented processes, policies and procedures (including in relation to safety) of the other parties that are reasonably notified to it from time
to time and must not allow access to or use of relevant Transition Services by any third party without the prior written consent of the party providing those Transition Services (such consent will not be unreasonably withheld).

  

	7.2	Privacy 

 Each party must,
in respect of personal information to which that party has access as a result of this document: 
  

	 	(a)	comply with the relevant and applicable provisions of the Privacy Act 1988 (Cth) and such other data protection legislation and applicable codes of conduct as
may be in force from time to time, including in respect of the collection, storage, use and disclosure of information, as if it were the party subject to regulation; 

 

	 	(b)	comply with any privacy policy which has been adopted by another party and which has been notified to the first party prior to the execution of this document as if it
were bound by that policy; 

  

	 	(c)	comply with any reasonable written direction of another party in relation to the means of compliance with such legislation, codes of conduct or privacy policy; and

  

	 	(d)	cooperate with each party in the resolution of any complaint alleging a breach of such legislation or privacy policy. 

 

	7.3	No disclosure of Confidential Information 

 Subject to clause 7.4, no party may directly or indirectly disclose to any other person, or use or allow to be disclosed or used for any purpose except as contemplated by this document,
any Confidential Information of another party that it acquires under or as a result of this document, and must hold as confidential such information, except where: 
  

	 	(a)	required by law or any recognised securities exchange on which its shares or the shares of any Related Body Corporate are listed; 

 

	 	(b)	necessary to perform or enforce its obligations under this document; 

  

	 	(c)	the other party consents to its disclosure; 

  

	 	(d)	it is publicly available other than by breach of this document; or 

  

			
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	 	(e)	it is already in the possession of that party or comes into its possession other than by a breach of this document. 

 

	7.4	Return of Confidential Information upon termination 

 Upon termination or expiration of this document and upon the other party’s written request: 
  

	 	(a)	Audeo Oncology must return to Alchemia, or procure the return to Alchemia of, all Confidential Information of Alchemia and its Related Bodies Corporate and other
materials relating to Alchemia and its Related Bodies Corporate acquired by Audeo Oncology or each of its respective employees, agents and contractors under or as a result of this document other than, Confidential Information which is located on any
server of Audeo Oncology and its Related Bodies Corporate; 

  

	 	(b)	Alchemia must return to Audeo Oncology, or procure the return to Audeo Oncology of, all Confidential Information of Audeo Oncology and its Related Bodies Corporate and
other materials relating to Audeo Oncology and its Related Bodies Corporate acquired by Alchemia or its respective employees, agents and contractors under or as a result of this document other than, Confidential Information which is located on any
server of Alchemia and their Related Bodies Corporate; and 

  

	 	(c)	each party must promptly certify in writing to the other party that it has complied with its obligations under this clause 7.4.

  

	8	Provision of Transition Services 

  

	8.1	Nature of relationship 

  

	 	(a)	At all times during the provision of the Transition Services: 

  

	 	(i)	each of the Audeo Oncology employees will remain an employee of the relevant member of the Audeo Oncology Group; 

 

	 	(ii)	nothing in this document will be taken as creating an employment relationship between any of Audeo Oncology employee and any member of the Alchemia’ Group.

  

	 	(b)	The parties must use their respective best endeavours to co-ordinate the amount of time and actual times each Audeo Oncology employee spends providing the relevant
Transition Services. 

  

	 	(c)	For the purposes of allowing the other parties to consider whether to request a fee review under clause 4.4, each party must provide the other with a monthly
estimate of the amount of time actually spent by Audeo Oncology employees in providing the relevant Transition Service. 

  

	8.2	Obligations of Alchemia 

During the provision of the Transition Services and for so long as a Audeo Oncology employee remains an employee of a member of the Audeo
Oncology Group, Alchemia: 

  

			
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	 	(a)	will not request such Audeo Oncology employee to provide any services to Alchemia other than those referred to or on a basis other than as set out in the schedule
without the prior written consent of Audeo Oncology; and 

  

	 	(b)	must ensure a safe system of work for such Audeo Oncology employee and comply with all legislative requirements which relate to the health and safety of such Audeo
Oncology employee. 

  

	8.3	Obligations of Audeo Oncology 

 During the provision of the Transition Services and for so long as an Audeo Oncology employee remains an employee of a member of the Audeo Oncology Group, Audeo Oncology will or will procure that the
relevant member of the Audeo Oncology Group will: 
  

	 	(a)	continue to make all payments and provide all benefits to each Audeo Oncology employee as required by his or her contract of employment, applicable legislation and any
applicable award or industrial agreement including without limitation: 

  

	 	(i)	remuneration (including salary and non-salary benefits); 

  

	 	(ii)	superannuation contributions; and 

  

	 	(iii)	entitlements to annual, sick, long service, bereavement, parental or other leave; and 

 

	 	(b)	continue to comply with all legislative requirements which arise as a result of the employment of each Audeo Oncology employee including, without limitation, workers
compensation insurance, PAYG withholding tax, fringe benefits tax and payroll tax. 

  

	8.4	Leave during provision of services 

 During the provision of the Transition Services, the parties acknowledge that each Audeo Oncology employee will be entitled to sick leave, bereavement leave, and other leave in accordance with applicable
legislation and the terms and conditions of their employment and any accrued annual leave or long service leave with the agreement of other party. The parties will consult in advance (where practicable) prior to Audeo Oncology approving any leave of
any Audeo Oncology employee providing Transition Services. 
  

	8.5	Termination of employment 

The terms of this document are subject at all times to the right of the relevant member of the Audeo Oncology Group to terminate the
employment of any Audeo Oncology employee and the right of any Audeo Oncology employee to resign in accordance with the terms of each Audeo Oncology employee’s contract of employment. 

 

	8.6	No offers of employment 

Alchemia must not, without the written consent of Audeo Oncology, make any offer of employment, or assist any other person to make an
offer of employment, to any Audeo Oncology employee during the provision of the 

  

			
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Transition Services while such Audeo Oncology employee is an employee of a member of the Audeo Oncology Group and for the period of 6 months after the Transition Services are last provided by
Audeo Oncology to Alchemia. 
  

	8.7	Intellectual Property 

All right, title and interest in any intellectual property (including copyright, patent or design rights) discovered, invented, developed,
modified or improved by any Audeo Oncology employee during the course of the provision of the Transition Services and while such Audeo Oncology employee is an employee of a member of the Audeo Oncology Group, either on his own or jointly with
others, will be the sole and exclusive property of the relevant member of the Audeo Oncology Group. 
  

	8.8	Alchemia Indemnity 

  

	 	(a)	Alchemia is liable for, and indemnifies Audeo Oncology, its affiliates, and the officers and employees of Audeo Oncology and its affiliates against, all Liability
incurred or suffered by Audeo Oncology in connection with any claim or demand which may be made in connection with or arising out of any act or omission of any Audeo Oncology employee in the course of the provision of the Transition Services by an
Audeo Oncology employee to any member of the Alchemia Group except to the extent caused by Audeo Oncology’s negligence or its wilful act or omission. 

  

	 	(b)	Alchemia agrees that none of Audeo Oncology, its affiliates, or the officers and employees of Audeo Oncology and its affiliates are liable for any Liability incurred or
suffered by Alchemia in connection with or arising out of any act or omission of any Audeo Oncology employee in the course of the provision of the Transition Services by a Audeo Oncology employee except to the extent caused by Audeo Oncology’s
negligence or its wilful act or omission. 

  

	 	(c)	Audeo Oncology holds the benefit of this clause 8.8 on its own behalf and on behalf of its Related Bodies Corporate and the Representatives of Audeo
Oncology and its Related Bodies Corporate. 

  

	9	Secondment 

 Audeo Oncology will
make the services of the Secondees available to Alchemia on the terms of this clause 9. 
  

	9.1	Notification to Secondees 

Audeo Oncology will notify the Secondees of the Secondment and their duties and responsibilities during the Secondment by providing them
with a letter in the form set out in schedule 2. 
  

	9.2	Period of Secondment 

  

	 	(a)	The Secondment will commence on the Implementation Date and will continue for the first 6 months of the Term subject to earlier termination in accordance with clause
9.9. 

  

			
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	 	(b)	The parties may agree to vary the period of the Secondment at any time. Any such agreement must be in writing. 

 

	9.3	Nature of relationship 

At all times during the course of the Secondment: 
  

	 	(a)	the Secondees will remain employees of Audeo Oncology; and 

  

	 	(b)	the Secondment will not create an employment relationship between the Secondees and Alchemia. 

 

	9.4	Secondment position 

During the Secondment, the Secondees will report to the Board, a nominated executive director of Alchemia or such other persons as may be
notified to the Secondees from time to time by Alchemia and will carry out such duties and responsibilities as may be assigned to them in accordance with that person’s supervision and direction. 

 

	9.5	Obligations of Alchemia 

During the Secondment Alchemia: 
  

	 	(a)	will ensure that the Secondees receive access to all training, communications, equipment and resources necessary to perform the services for Alchemia;

  

	 	(b)	will pay all of the costs of providing the necessary training, communications, equipment and resources referred to in clause 9.5(a) above;

  

	 	(c)	must ensure a safe system of work for the Secondees and comply with all legislative requirements which relate to the health and safety of the Secondees;

  

	 	(d)	will inform the Secondees of its workplace policies and procedures, and monitor the Secondees’ compliance with those policies and procedures;

  

	 	(e)	must not use the Secondees for purposes other than performance of the duties which the Secondees might be required to perform for Audeo Oncology under his or her
contract of employment without the prior written consent of Audeo Oncology; 

  

	 	(f)	will not declare the position of the Secondees redundant or purport to terminate the employment of, or otherwise discipline, the Secondees; and

  

	 	(g)	must obtain the Secondees’ consent to the collection, use and disclosure of the Secondees’ personal information as is reasonably required.

  

	9.6	Secondment Fee 

  

	 	(a)	Alchemia will pay Audeo Oncology a secondment fee of $13,000 (Secondment Fee) per month together with GST for the Secondment for the first 6 months of the Term.

  

	 	(b)	The Secondment Fee is payable monthly in arrears. 

  

			
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	 	(c)	In the event that the parties vary either the term of the Secondment or the number of days that the Secondees are required to attend, the Secondment Fee will be varied
pro-rata to reflect the changed arrangement. 

  

	9.7	Obligations of Audeo Oncology 

 During the Secondment, Audeo Oncology 
  

	 	(a)	will continue to make all payments and provide all benefits to the Secondees as required by their contract of employment, applicable legislation and any applicable
award or industrial agreement including without limitation: 

  

	 	(i)	remuneration (including salary and non-salary benefits) 

  

	 	(ii)	superannuation contributions and; 

  

	 	(iii)	entitlements to annual, sick, long service, bereavement, parental or other leave; and 

 

	 	(b)	will continue to comply with all legislative requirements which arise as a result of the employment of the Secondee, including, without limitation, workers compensation
insurance, PAYG withholding tax, fringe benefits tax and payroll tax. 

  

	9.8	Leave during Secondment 

The parties agree that, during the Secondment 
  

	 	(a)	Audeo Oncology may be required from time to time to give the Secondees annual leave, long service leave, sick leave, bereavement leave, or other leave in accordance
with legislation and the terms and conditions of the employment of the Secondees; and 

  

	 	(b)	Leave will only be approved by Audeo Oncology after consultation with Alchemia (including consultation in relation to the business and operations needs of Alchemia).

  

	9.9	Human resources issues 

  

	 	(a)	The terms of the Secondment are subject at all times to the right of Audeo Oncology to terminate the employment of the Secondees and the right of the Secondees to
resign in accordance with the terms of the Secondees’ contract of employment. 

  

	 	(b)	In the event that the employment of the Secondees is terminated for any reason during the Secondment, Audeo Oncology may nominate another person to carry out the duties
of the Secondees at Alchemia. 

  

	 	(c)	Alchemia must provide all assistance reasonably required by Audeo Oncology for human resources issues, in respect of the Secondees (including participation in
performance appraisals, career counselling and disciplinary action). 

  

	 	(d)	 If Alchemia reasonably considers the Secondees should be subject to disciplinary action, or should have their employment terminated, then

  

			
	 7391929/2
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Alchemia must notify Audeo Oncology of the relevant circumstances as soon as possible and provide all assistance reasonably required by Audeo Oncology. 

 

	9.10	No offers of employment 

Alchemia must not, without the written consent of Audeo Oncology, make any offer of employment, or assist any other person to make an
offer of employment, to the Secondees during the Secondment. 
  

	9.11	Intellectual Property 

Where any intellectual property is introduced to Alchemia by the Secondees, the intellectual property (including any developments,
modifications or improvements) will be the sole and exclusive property of Audeo Oncology. 
  

	9.12	Confidentiality 

  

	 	(a)	Audeo Oncology must direct the Secondees to not at any time, either during the Secondment or after the termination of the Secondment, for any reason:

  

	 	(i)	divulge any of the affairs or secrets of Audeo Oncology and/or Alchemia to any other entity or persons without the previous consent in writing of Audeo Oncology and/or
Alchemia (as the case may be); or 

  

	 	(ii)	use or attempt to use any information in whatever form which the Secondees may acquire in the course of the Secondment in any manner which may injure or cause loss, or
be calculated to injure or cause loss to Audeo Oncology and/or Alchemia. 

  

	 	(b)	Alchemia will not require the Secondees to disclose any confidential information belonging to Audeo Oncology and will ensure that the Secondees do not use any
confidential information belonging to Audeo Oncology in the course of the Secondment. 

  

	 	(c)	Alchemia will advise Audeo Oncology immediately if any confidential information belonging to Audeo Oncology has been disclosed by the Secondees to Alchemia.

  

	 	(d)	Audeo Oncology will not require the Secondees to disclose any confidential information belonging to Alchemia and will ensure that the Secondees do not use any
confidential information belonging to Alchemia once the Secondment has come to an end. 

  

	9.13	Sharing of Information 

Audeo Oncology and Alchemia agree that it will not use any information belonging to the other that it has become aware of through the
Secondment that would be in breach of any laws or regulation. 
  

	9.14	Insurance 

  

	 	(a)	Alchemia must, for the period of the Secondment, effect and maintain a public risk insurance policy for liability in respect of the services performed by the Secondees
attributable to injury, including death, or loss of damage to property. 

  

			
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	 	(b)	Alchemia will be responsible for payment of any excess amount that is payable under the public risk insurance policy for each claim made under the insurance policy.

  

	 	(c)	Alchemia undertakes that: 

  

	 	(i)	from, and for at least seven years following, the end of the Secondment, it will continuously effect and maintain directors and officers liability insurance cover
protecting the Secondees (Post-Secondment D&O Policy) which will be no less favourable to the Secondees than the Alchemia Group’s insurance policy in relation to directors and officers liability insurance as at the end of the
Secondment; and 

  

	 	(ii)	that within seven days of a request by Audeo Oncology, it will provide Audeo Oncology with a copy of: 

 

	 	(A)	each certificate of currency issued by Alchemia’s insurance company or companies underwriting the Post-Secondment D&O Policy; and 

 

	 	(B)	to the extent it would not otherwise breach the relevant policy, each Post-Secondment D&O Policy. 

 

	9.15	Workplace health and safety 

 Alchemia acknowledges that Audeo Oncology has no control over the premises on which the Secondees will be providing the services and, in respect of such premises, Alchemia will take all reasonable
precautions to prevent harm or injury to the Secondees, and must comply with all applicable legislation dealing with workplace health and safety. 
  

	9.16	Alchemia Indemnity 

  

	 	(a)	Alchemia is liable for, and indemnifies Audeo Oncology and the officers and employees of Audeo Oncology against all liability, loss and damage (including legal costs on
a full indemnity basis) incurred or suffered by them in connection with any claim or demand which may be made or prosecuted in connection with or arising out of any decision, advice, recommendation or any other act or omission of the Secondees in
the course of the Secondment. 

  

	 	(b)	Alchemia releases Audeo Oncology, and the officers, and employees of Audeo Oncology, from any liability, loss or damage incurred or suffered by:

  

	 	(i)	Alchemia; 

  

	 	(ii)	an employee, officer, contractor, customer, supplier or agent of Alchemia; and/or 

 

	 	(iii)	a third party, 

 in connection
with or arising out of any act or omission of the Secondees in the course of the Secondment. 

  

			
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	 	(c)	Audeo Oncology holds the benefit of clause 9.16 on its own behalf and on behalf of the officers and employees of Audeo Oncology. 

 

	 	(d)	Clause 9.16 survives the termination of the Secondment for any reason. 

 

	10	Limitation of liability and warranties 

  

	10.1	No liability 

 The parties
shall use all reasonable endeavours to ensure continuity of provision of the relevant Transition Services. However, neither party will be liable to any party or to any other person for any failure by any person to perform its obligations under this
document unless such failure is caused by the relevant party’s negligence or wilful act or omission. 
  

	10.2	Limitation of liability 

  

	 	(a)	Subject to clauses 10.1, 10.3(a) and 10.4, Audeo Oncology’s liability in relation to this document is limited to Alchemia direct costs
incurred as a result of a breach by Audeo Oncology of its obligations under this document, subject to a minimum claim of $10,000 per event or series of related events. 

 

	 	(b)	Subject to clauses 10.1, 10.3(b) and 10.4, Alchemia’s liability in relation to this document is limited to Audeo Oncology’s direct costs
incurred as a result of a breach by Alchemia of their obligations under this document, subject to a minimum claim of $10,000 per event or series of related events. 

 

	10.3	Maximum liability 

  

	 	(a)	Audeo Oncology shall not in any circumstance be liable for any losses, costs or damages incurred by Alchemia arising out of or in connection with this document
exceeding $186,000. Alchemia will use reasonable endeavours to mitigate any such loss arising, and Audeo Oncology will assist Alchemia to mitigate their loss. 

 

	 	(b)	Alchemia shall not in any circumstance be liable for any losses, costs or damages incurred by Audeo Oncology arising out of or in connection with this document
exceeding in aggregate $186,000. Audeo Oncology will use reasonable endeavours to mitigate any such loss arising, and Alchemia will assist Audeo Oncology to mitigate its loss. 

 

	 	(c)	For the avoidance of doubt, nothing in this document affects in any way the obligations and liabilities of any person to Alchemia who acts as an officer or employee of
Alchemia, including the Secondees. 

  

	10.4	Exclusion of liability 

Subject to clause 10.7, each party shall not in any circumstances be liable to the other party for any loss of profits or indirect
or other consequential loss or 

  

			
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damage (including any loss of business income, profits, revenue, customers, penalties, fines, damages for personal injury, use of an asset, production, contract, goodwill or loss or corruption of
data and additional finance or interest costs) in relation to the provision of the relevant Transition Services or otherwise under this document. 
  

	10.5	Time limit 

 No claim in
relation to this agreement may be made against any party more than 12 months after expiry of the Term. 
  

	10.6	No warranties 

 Except as
set out in clause 10.8, there are no warranties (either express or implied) under this document in relation to the Transition Services or the delivery of them. 
  

	10.7	Competition and Consumer Act 

 Nothing in this document shall operate so as to exclude, restrict or modify the application of any of the provisions of the Competition and Consumer Act 2010 (Cth) or any equivalent State,
Territory or overseas jurisdiction legislation (the Relevant Legislation), the exercise of a right conferred by such a provision, or any liability of any party for a breach of a condition or warranty implied by such a provision, where the
Relevant Legislation would render it void to do so. 
  

	10.8	Mutual representations and warranties 

 Each party represents and warrants to the other party as at the date of this document, and at all times after the date of this document, that: 

 

	 	(a)	it has full power and authority to enter into, perform and observe its obligations under this document; 

 

	 	(b)	to its knowledge there are no actions, claims, proceedings or investigations pending or threatened against it or by it which may have a material effect on the subject
matter of this document; 

  

	 	(c)	it has, or will have at the Implementation Date, all licences, authorisations, consents, approvals and permits required by applicable law in order to perform its
obligations under this document, and otherwise complies with all laws applicable to the performance of those obligations; and 

  

	 	(d)	it will at all times comply with any applicable law or industry standards. 

 

	11	Force majeure 

  

	11.1	Notification 

 If a party
is unable to perform an obligation (other than an obligation to pay money) under this document by reason of Force Majeure and that party: 

  

			
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	 	(a)	gives the other parties prompt notice of and reasonably full details of the Force Majeure and an estimate of the extent and the duration of its inability to perform;
and 

  

	 	(b)	uses all reasonable diligence to remove or work around that Force Majeure as quickly as possible, 

that obligation is suspended for the minimum extent and duration of that Force Majeure. 

 

	11.2	Action to be taken 

 If
the Force Majeure continues more than 10 Business Days after notice is given under clause 11.1, representatives of the parties must meet to discuss in good faith a mutually satisfactory resolution to the problem. If the Force Majeure
continues for more than 20 Business Days after notice is given under clause 11.1, any party may terminate the provision of the affected Transition Service or Transition Services by notice in writing to the other parties. 

 

	12	GST 

  

	12.1	Construction 

 In this
clause 12: 
  

	 	(a)	words and expressions which are not defined in this document but which have a defined meaning in GST Law have the same meaning as in the GST Law;

  

	 	(b)	GST Law has the same meaning given to that expression in the A New Tax System (Goods and Services Tax) Act 1999; and 

 

	 	(c)	references to GST payable and input tax credit entitlement include GST payable by, and the input tax credit entitlement of, the representative member for a GST group of
which the entity is a member. 

  

	12.2	Consideration GST exclusive 

 Unless otherwise expressly stated, all prices or other sums payable or consideration to be provided under this document are exclusive of GST. 

 

	12.3	Payment of GST 

 If GST is
payable on any supply made by a party (or any entity through which that party acts) (Supplier) under or in connection with this document, the recipient will pay to the Supplier an amount equal to the GST payable on the supply. 

 

	12.4	Timing of GST payment 

The recipient will pay the amount referred to in clause 12.3 in addition to and at the same time that the consideration for the
supply is to be provided under this document. 

  

			
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	12.5	Tax invoice 

 The Supplier
must deliver a tax invoice or an adjustment note to the recipient before the Supplier is entitled to payment of an amount under clause 12.3. The recipient can withhold payment of the amount until the Supplier provides a tax invoice or an
adjustment note, as appropriate. 
  

	12.6	Adjustment event 

 If an
adjustment event arises in respect of a taxable supply made by a Supplier under this document, the amount payable by the recipient under clause 12.3 will be recalculated to reflect the adjustment event and a payment will be made by the
recipient to the Supplier or by the Supplier to the recipient as the case requires. 
  

	12.7	Reimbursements 

 Where a
party is required under this document to pay or reimburse an expense or outgoing of another party, the amount to be paid or reimbursed by the first party will be the sum of: 

 

	 	(a)	the amount of the expense or outgoing less any input tax credits in respect of the expense or outgoing to which the other party is entitled; and

  

	 	(b)	if the payment or reimbursement is subject to GST, an amount equal to that GST. 

 

	12.8	No Merger 

 This clause
12 does not merge in the completion or termination of this document. 
  

	13	Relationship with Demerger Deed 

  

	13.1	Inconsistency 

 In respect
of transition issues, if any inconsistency arises between this document and the Demerger Deed, the Demerger Deed will prevail to the extent of that inconsistency. 
  

	13.2	Breach or termination 

 A
breach or termination of this document will have no effect on the operation or validity of the Demerger Deed. 
  

	14	Termination 

  

	14.1	Termination 

 A party may
only terminate this document under this clause 14. 
  

	14.2	Termination by Alchemia 

At any time during the Term, Alchemia may provide Audeo Oncology with a written notice terminating the Transition Services in whole or in
part, with effect from the date which is 5 Business Days after the termination notice is provided to Audeo Oncology. 

  

			
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	14.3	Termination by Audeo Oncology 

 At any time after the date that is 2 years after the commencement of the Term, Audeo Oncology may provide Alchemia with a written notice terminating the Transition Services in whole or in part, with
effect from the date which is 5 Business Days after the termination notice is provided to Alchemia. 
  

	14.4	Termination of agreement for cause 

  

	 	(a)	If any party (Defaulting Party) commits a material breach of this document, which is not cured within 30 days after notice of such breach from another party
(Notifying Party), then the Notifying Party may, by giving written notice to the Defaulting Party, terminate this document in whole or in part as of the date specified in the notice of termination (which must be a month end).

  

	 	(b)	If the Notifying Party chooses to terminate this document in part, the charges payable by the Notifying Party under this document will be equitably adjusted pro rata to
reflect those Transition Services that are terminated. 

  

	14.5	Termination for insolvency 

A party may terminate this document immediately by notice in writing to the other party if an Insolvency Event occurs in relation to that
other party. 
  

	14.6	Mutually agreed termination 

  

	 	(a)	The parties may mutually agree in writing to terminate this document prior to the expiry of the Term. 

 

	 	(b)	Where the parties agree to terminate some but not all of the Transition Services prior to the expiry of the Term, the charges payable under this document will be
equitably adjusted pro rata to reflect those Transition Services that are terminated. 

  

	14.7	Consequences of termination 

  

	 	(a)	Termination of this document does not affect any accrued rights or remedies of either party. 

 

	 	(b)	As soon as reasonably practicable and in any event no later than within 30 days of the expiration or termination of this document, each party must return or
procure the return of the property (including intellectual property) of the other party to that other party. 

  

	14.8	Payment of outstanding fees 

 Upon termination of this document, Alchemia will pay to Audeo Oncology: 
  

	 	(a)	the Monthly Service Charge in full for the calendar month in which this document is terminated; 

  

			
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	 	(b)	any Out-of-Pocket Expenses that have been incurred as at the date of termination of this document as notified to Alchemia by Audeo Oncology in writing; and

  

	 	(c)	the Monthly Secondment Fee in full for the calendar month in which this document is terminated. 

 

	14.9	Continuing clauses 

Clauses 1, 7.3, 7.4, 8.6, 8.7, 8.8, 10, 12, 14, 15.1 to 15.3,
15.9 and 15.14 survive termination of this document. 
  

	15	General 

  

	15.1	Entire understanding 

  

	 	(a)	This document, the Transaction Documents and the other agreements contemplated by this document, contain the entire understanding between the parties concerning their
subject matter and supersede all prior communications between the parties. 

  

	 	(b)	Each party acknowledges that, except as expressly stated in a Transaction Document, that party has not relied on any representation, warranty or undertaking of any kind
made by or on behalf of another party in relation to the subject matter of this document. 

  

	15.2	Further assurances 

 A
party must, at its own expense and within a reasonable time of being requested by another party to do so, do all things and execute all documents that are reasonably necessary to give full effect to this document. 

 

	15.3	No waiver 

  

	 	(a)	A failure, delay, relaxation or indulgence by a party in exercising any power or right conferred on the party by this document does not operate as a waiver of that
power or right. 

  

	 	(b)	A single or partial exercise of the power or right does not preclude a further exercise of it or the exercise of any other power or right under this document.

  

	 	(c)	A waiver of a breach does not operate as a waiver of any other breach. 

  

	15.4	Severability 

 If any
provision of this document offends any law applicable to it and is as a consequence illegal, invalid or unenforceable then: 
  

	 	(a)	where the offending provision can be read down so as to give it a valid and enforceable operation of a partial nature, it must be read down to the minimum extent
necessary to achieve that result; and 

  

	 	(b)	in any other case the offending provision must be severed from this document, in which event the remaining provisions of this document operate as if the severed
provision had not been included. 

  

			
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	15.5	Successors and assigns 

This document binds and benefits the parties and their respective successors and permitted assigns under clause 15.6. 

 

	15.6	No Assignment 

 Except as
expressly provided in this document, a party cannot assign or otherwise transfer the benefit of this document without the prior written consent of each other party. 
  

	15.7	Consents and approvals 

Where anything depends on the consent or approval of a party then, unless this document provides otherwise, that consent or approval may
be given conditionally or unconditionally or withheld, in the absolute discretion of that party. 
  

	15.8	Amendments 

 This document
cannot be amended or varied except in writing signed by the parties. 
  

	15.9	Costs and duties 

  

	 	(a)	Except as otherwise provided in this document, each party must pay its own legal and other costs of and incidental to the preparation and completion of this document.

  

	 	(b)	Alchemia must pay all stamp duty (including fines, penalties and interest) in respect of the execution, delivery and performance of this document and any agreement or
document entered into or signed under this document including each Transaction Document. 

  

	15.10	Notices 

 Any notice or
other communication to or by a party to this document: 
  

	 	(a)	may be given by personal service, facsimile or email; 

  

	 	(b)	must be in writing, legible and in English addressed as shown below: 

  

	 	(i)	if to Audeo Oncology: 

  

							
	                            
Address:	 	 3 Hi Tech Court, 8 Mile Plains, Brisbane,
 Queensland 4113
	  		  	
	                            
Attention:	 	Charles Walker	  		  	
	                            
Facsimile:	 	+61 7 3340 0222	  		  	
	                            
Email:	 	cwalker@alchemia.com.au	  		  	

  

	 	(ii)	if to Alchemia: 

  

							
	                            
Address:	 	 3 Hi Tech Court, 8 Mile Plains, Brisbane,
 Queensland 4113
	  		  	
	                            
Attention:	 	Tracie Ramsdale	  		  	
	                            
Facsimile:	 	+61 7 3340 0222	  		  	
	                            
Email:	 	teramsdale@bigpond.com	  		  	

 or to any other address last notified by the party to the sender by notice given in accordance with this
clause; 

  

			
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	 	(c)	in the case of a corporation, must be signed by an officer or authorised representative of the sender; and 

 

	 	(d)	is deemed to be given by the sender and received by the addressee: 

  

	 	(i)	if delivered in person, when delivered to the addressee; 

  

	 	(ii)	if sent by facsimile transmission, on the date and time shown on the transmission report by the machine from which the facsimile was sent which indicates that the
facsimile was sent in its entirety and in legible form to the facsimile number of the addressee notified for the purposes of this clause; or 

  

	 	(iii)	if sent by email, on the date and time at which it enters the addressee’s information system (as shown in a confirmation of delivery report from the sender’s
information system, which indicates that the email was sent to the email address of the addressee notified for the purposes of this clause 15.10(d)(iii)), 

 but if the delivery or receipt is on a day which is not a Business Day or is after 4.00 pm (addressee’s time), it is deemed to have been received at 9.00 am on the next Business Day. 

 

	15.11	  Subcontracting 

  

	 	(a)	Audeo Oncology may: 

  

	 	(i)	subcontract any of the Transition Services to be performed by Audeo Oncology to a wholly owned subsidiary. Audeo Oncology remains responsible for the performance of its
obligations under this document and subject to clause 10, bears the risk of the subcontracting arrangement; and 

  

	 	(ii)	replace one third party service provider for another provided that there are no material adverse effects on the Transition Services supplied to Alchemia.

  

	 	(b)	Audeo Oncology is responsible for coordinating the activities of its respective third party suppliers to provide all necessary inputs to enable them to perform their
respective obligations under this document. 

  

	 	(c)	If Audeo Oncology engages a Related Body Corporate to perform any of the Transition Services, Audeo Oncology will be treated as if it provides those Transition Services
for the purposes of this document. 

  

	15.12	  Relationship of the parties 

  

	 	(a)	The parties are independent contractors and nothing in this document creates a relationship of joint venture, partnership or principal or agent between any of the
parties. 

  

	 	(b)	A party must not act as if, or request or attempt to request to any person that, any such relationship exists. 

  

			
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	 	(c)	No party may attempt to bind or impose any obligation on any other party or incur any joint liability without the written consent of the other party except as set out
in this document. 

  

	15.13	  Counterparts 

This document may be executed in any number of counterparts. It comprises all the counterparts, taken together. 

 

	15.14	  Governing law and jurisdiction 

  

	 	(a)	This document is governed by and must be construed in accordance with the laws applicable in Queensland. 

 

	 	(b)	The parties submit to the non-exclusive jurisdiction of the courts of Queensland in respect of all matters arising out of or relating to this document, its performance
or subject matter. 

  

			
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 Schedule 1—Transition Services 
 For the first 6 months of the Term: 
  

			
	 Service
	  	 Description

	Accounting (including payroll function)	  	Monthly processing of Alchemia invoices, preparation of monthly management accounts, and running monthly payroll services
		
	Administration	  	General office administration required for Alchemia
		
	Management	  	Management of all corporate transactions, including its relationship with Dr Reddy’s
		
	Investor relations	  	News and media support incorporating presentations and broker liaison as required
		
	Facilities management	  	Management of Alchemia’s business facilities, including its laboratories and certain facility fee expenses (including certain salaries and wages, insurance, lab expenses
(including gas), electricity, rent, repairs and other (including cleaning, rates, gardening etc))
		
	Intellectual property management	  	Support regarding the management, renewal and prosecution of existing patents, including responding to any challenges

 For the period after the first 6 months of the Term: 

 

			
	 Service
	  	 Description

	Intellectual property management	  	Support regarding the management, renewal and prosecution of existing patents, including responding to any challenges

  

			
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 Schedule 2—Letter to Secondees 
 Dear [insert] 
 I refer to our recent discussions regarding your proposed secondment to
Alchemia. 
 Term of Secondment 

I confirm that you will work on secondment with Alchemia commencing on [insert]. The secondment will be for 26 days over a six month period during days to
be agreed between Alchemia and Audeo Oncology. The period of the secondment may be varied at the discretion of Audeo Oncology. 
 Conditions
of Secondment 
 During the secondment: 
  

	1	you will work at [insert] 

  

	2	your duties will involve [insert] 

  

	3	you will report to the Board, a nominated executive director of Alchemia or such other persons as may be notified to you from time to time by Alchemia.

  

	4	you will be subject to the day to day direction and supervision of Alchemia and must comply with all of Alchemia’s policies and procedures; and

  

	5	Alchemia will be responsible for ensuring that you receive all necessary training, communications, equipment and resources necessary to carry out your duties.

 Your continued employment with Audeo Oncology 
 While you are working on secondment with Alchemia, you will continue to work for Audeo Oncology on your non seconded days and the terms of your contract of employment with Audeo Oncology will continue to
apply. Your salary and all other employment related benefits will be paid by Audeo Oncology and any performance and remuneration reviews will be conducted by Audeo Oncology. 
 Applying for leave during the Secondment 
 During the Secondment, you may apply to Audeo
Oncology for leave in accordance with legislation and the terms and conditions of your employment with Audeo Oncology. However, leave will only be approved by Audeo Oncology after consultation with Alchemia to ensure that the leave does not
unreasonably interfere with Alchemia’s operating and business needs. 
 Confidential Information 

You may from time to time come into possession of information which is confidential to Alchemia. It is important that you treat this information in an
appropriate manner. Accordingly, you must not, except in the course of your duties, as may be required by law or with the prior consent of Alechmia: 

  

			
	 7391929/2
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	1	disclose to Audeo Oncology or to any other person, whether directly or indirectly, any information of Alchemia, its clients or its business which is not in the public
domain; or 

  

	2	use, copy, transmit or remove or attempt to use, copy, transmit or remove any part of the information referred to in paragraph (1). 

You will also remain in possession of information which is confidential to Audeo Oncology. Similarly, you must not, during the Secondment or after the
termination of the Secondment, for any reason: 
  

	3	disclose to Alchemia or to any other person, whether directly or indirectly, any information of Audeo Oncology, its clients or its business which is not in the public
domain; or 

  

	4	use, copy, transmit or remove or attempt to use, copy transmit or remove any part of the information referred to in paragraph (3). 

Intellectual Property 
 In addition:

  

	1	all rights, title and interest in any intellectual property (including copyright, patent and design rights) which you discover, invent, develop, modify or improve, on
your own or jointly with others, during the course of the secondment will be the exclusive property of Alchemia; and 

  

	2	if for any reason any contribution you may make to the discovery, invention, development, modification or improvement of any such intellectual property during the
course of the secondment results in any right, title or interest vesting in you, you must unconditionally and irrevocably assign all of your right, title and interest to Alchemia. 

Conduct while on Secondment 
 Although
you continue to be employed by Audeo Oncology, your work conduct should also be in accordance with the policies and procedures in place at Alchemia. 
 Workplace health and safety 
 While you are on secondment, both Audeo Oncology and Alchemia
are obliged to ensure a safe and healthy working environment for you. Should you have any concerns about your working environment whilst on secondment, please contact Audeo Oncology [insert relevant contact]. 

Please contact me at any time if you have any queries in relation to the secondment arrangements set out in this letter. 

Yours sincerely 
 For and on behalf of

 Audeo Oncology 

  

			
	 7391929/2
	 	page 26

 Please sign and date the enclosed copy of this letter in the space below to confirm your acceptance of the
secondment to Alchemia on the terms set out in this letter: 
 I hereby accept the offer of a secondment to Alchemia on the terms set out in
this letter. 
  

							
	(Signature of Secondee)	 		  	Date	  	

  

  

			
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	 	page 27

 Executed as an agreement. 

 

					
	 Executed by Alchemia Limited
	 	)	 	
			
	/s/ Stephen Denaro	 		 	/s/ Tracie Ramsdale
	 Company Secretary
	 		 	Director
			
	Stephen Denaro	 		 	Tracie Ramsdale
	 Name of Company Secretary (print)
	 		 	Name of Director (print)

  

	
	Executed by Audeo Oncology, Inc.
	
	/s/ Charles Walker
	 Signature

	
	Charles Walker
	 by (print name)

	
	Chief Financial Officer
	 its (print title)

  

  

			
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Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00207-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00207-of-00352.parquet"}]]