Document:

Securities Purchase Agreement

 Exhibit 10.1 
 SECURITIES PURCHASE 
 AGREEMENT 
 Dated as of September 12, 2007 
 by and among 
 NEUROBIOLOGICAL TECHNOLOGIES, INC. 
 and 
 THE PURCHASERS LISTED ON EXHIBIT A 
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE I       PURCHASE AND SALE OF NOTES AND COMMON STOCK
	  	1
	 Section 1.1.
	  	Purchase and Sale of Notes and Common Stock.	  	1
	 Section 1.2.
	  	Purchase Price and Closing	  	1
	 Section 1.3.
	  	Lock-Up.	  	2
		
	 ARTICLE II     REPRESENTATIONS AND WARRANTIES
	  	3
	 Section 2.1.
	  	Representations and Warranties of the Company	  	3
	 Section 2.2.
	  	Representations and Warranties of the Purchasers	  	12
		
	 ARTICLE III    COVENANTS OF THE COMPANY
	  	13
	 Section 3.1.
	  	Securities Compliance	  	13
	 Section 3.2.
	  	Registration and Listing	  	13
	 Section 3.3.
	  	Compliance with Laws	  	13
	 Section 3.4.
	  	Keeping of Records and Books of Account	  	13
	 Section 3.5.
	  	Reporting Requirements	  	13
	 Section 3.6.
	  	Other Agreements	  	14
	 Section 3.7.
	  	Use of Proceeds	  	14
	 Section 3.8.
	  	Reporting Status	  	14
	 Section 3.9.
	  	Disclosure of Transaction	  	14
	 Section 3.10.
	  	Disclosure of Material Information	  	14
	 Section 3.11.
	  	Amendments	  	14
	 Section 3.12.
	  	Merz Assignment	  	15
	 Section 3.13.
	  	Application of Subsequent Financing; Most Favored Nation	  	15
	 Section 3.14.
	  	Defaults	  	16
		
	 ARTICLE IV    CONDITIONS
	  	16
	 Section 4.1.
	  	Conditions Precedent to the Obligation of the Company to Close and to Sell the Securities	  	16
	 Section 4.2.
	  	Conditions Precedent to the Obligation of the Purchasers to Close and to Purchase the Securities	  	16
		
	 ARTICLE V     INDEMNIFICATION
	  	19
	 Section 5.1.
	  	Indemnity	  	19
	 Section 5.2.
	  	Indemnification Procedure	  	19
		
	 ARTICLE VI    MISCELLANEOUS
	  	20
	 Section 6.1.
	  	Fees and Expenses	  	20
	 Section 6.2.
	  	Specific Performance; Consent to Jurisdiction; Venue.	  	20
	 Section 6.3.
	  	Entire Agreement; Amendment	  	21
	 Section 6.4.
	  	Notices	  	21
	 Section 6.5.
	  	Waivers	  	22
	 Section 6.6.
	  	Headings	  	22
	 Section 6.7.
	  	Successors and Assigns	  	22
	 Section 6.8.
	  	No Third Party Beneficiaries	  	23
	 Section 6.9.
	  	Governing Law	  	23

 TABLE OF CONTENTS 
 (continued) 

					
	 	  	 	  	Page
	 Section 6.10.
	  	 Survival
	  	23
	 Section 6.11.
	  	 Counterparts
	  	23
	 Section 6.12.
	  	 Publicity
	  	23
	 Section 6.13.
	  	 Severability
	  	23
	 Section 6.14.
	  	 Further Assurances
	  	23
	 Section 6.15.
	  	 Representation of Lead Purchaser
	  	24

 SECURITIES PURCHASE AGREEMENT 
 This SECURITIES PURCHASE AGREEMENT, dated as of September 12, 2007 (this “Agreement”), by and among Neurobiological Technologies,
Inc., a Delaware corporation (the “Company”), and each of the purchasers of the senior secured notes of the Company and Common Stock of the Company whose names are set forth on Exhibit A attached hereto (each a
“Purchaser” and collectively, the “Purchasers”). 
 NOW, THEREFORE, IN CONSIDERATION of the mutual
covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company and each Purchaser agree as follows: 
 ARTICLE I 
 PURCHASE AND SALE OF NOTES AND COMMON STOCK 
 Section 1.1. Purchase and Sale of Notes and Common Stock. 
 (a) Upon the following terms and conditions, the Company shall issue and sell to the Purchasers, and the Purchasers shall, severally and
not jointly, purchase, the respective principal amounts set forth opposite the names of such Purchasers on Exhibit A, Six Million Dollars ($6,000,000) aggregate principal amount of the Company’s Senior Secured Notes due 2008 (the
“Notes”). The Notes are to be issued pursuant to an indenture (the “First Indenture”), to be dated as of the Closing Date (as defined below), between the Company and U.S. Bank National Association, as trustee (the
“Trustee”), as supplemented and amended by the First Supplemental Indenture dated as of the Closing Date (the “Supplemental Indenture”), by and between the Company and the Trustee (the First Indenture as amended and
supplemented by the Supplemental Indenture is referred to herein as the “Indenture”). The Notes shall be in substantially the form attached hereto as Exhibit B. 
 (b) Upon the following terms and conditions, the Purchasers shall be issued an aggregate of 2,750,000 shares (the “Purchased
Shares”) of Common Stock, par value $0.001, of the Company (the “Common Stock”). The number of Purchased Shares to be issued to each Purchaser is set forth opposite such Purchaser’s name on Exhibit A attached
hereto. The Notes and the Common Stock are collectively referred to herein as the “Securities”. 
 (c) On
Closing, the Company shall cause the Purchased Shares to be delivered via the Depository Trust Company Deposit Withdrawal Agent Commission System registered in the name of such Purchasers. The Purchasers shall deposit, or cause to be deposited, the
Purchased Shares in Purchasers’ respective accounts to be held at Merriman Curhan Ford & Co. (“Merriman”) until the end of the Lock-up Period (as defined below). 
  

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 Section 1.2. Purchase Price and Closing. Subject to the terms and conditions hereof, the Company
agrees to issue and sell to the Purchasers and, in consideration of and in express reliance upon the representations, warranties, covenants, terms and conditions of this Agreement, the Purchasers, severally but not jointly, agree to purchase the
Notes and Purchased Shares for an aggregate purchase price of up to Six Million Dollars ($6,000,000) (the “Purchase Price”). The Notes and Purchased Shares shall be paid for and delivered on or before September 12, 2007 (the
“Closing Date”). The closing of the purchase and sale of the Securities (the “Closing”) to be acquired by the Purchasers from the Company under this Agreement shall take place by facsimile and constructively at the
offices of Goodwin Procter LLP, 4365 Executive Drive, San Diego, CA 92121 at 11:00 a.m., New York time; provided, that all of the conditions set forth in Article IV hereof and applicable to the Closing shall have been fulfilled or waived in
accordance herewith. Subject to the terms and conditions of this Agreement, at the Closing the Company shall deliver or cause to be delivered to the Trustee Notes for the aggregate principal amount of Six Million Dollars ($6,000,000). Subject to the
terms and conditions of this Agreement, no later than one (1) business day following Closing, the Company shall deliver to each Purchaser, or Purchaser’s nominee, that number of Purchased Shares set forth opposite the name of such
Purchaser on Exhibit A. At the Closing, each Purchaser shall deliver its Purchase Price by wire transfer of immediately available funds to an account designated by the Company. 
 Section 1.3. Lock-Up. 
 (a) Each Purchaser agrees, severally and not jointly, that it shall not Transfer, except for Permitted Transfers, the Purchased Shares during the Lock-Up Period. 
 (b) Certain terms used in this Section 1.3 are defined as follows: 
  

	 	 i.
	 The “Lock-Up Period” is the period of time beginning as of the date of this Agreement and ending on the
earlier of (i) January 15, 2008, (ii) the 91st day immediately following the last closing of any sale of the Company’s Common Stock
pursuant to the pending registration statement of the Company on Form S-1 (Commission File No. 333-145403) filed on August 13, 2007 (as the same may be amended, the “S-1”); provided, however, in no event shall the Lock-Up Period
continue after the expiration of any lock-up agreement executed by any Affiliate of the Company in connection with the S-1. 

  

	 	 ii.
	 “Permitted Transfers” shall mean (A) for any given Trading Day after the 5th Trading Day following the last closing of the S-1 financing (the “S-1 Financing”), the sale of a number of Purchased Shares up to 5% of the average daily trading volume of
the Company’s Common Stock during the preceding five (5) Trading Days on the principal trading market for the Common Stock (such 5% volume limit to be divided ratably among the purchases in accordance with their relative holdings as set
forth on Exhibit A), (B) transactions relating to Common Stock acquired by the Purchasers in open market transactions, and (C) the transfer of any Purchased Shares 

  

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by any Purchaser to any of its stockholders, members, partners or other Affiliates (but specifically excluding any Affiliates engaged in a biotech business
or otherwise may be deemed to directly compete with the Company), or to any other Purchaser buying Purchased Shares pursuant to this Agreement, but if and only if the same agree in writing to all of the restrictions contained in this
Section 1.3 and deliver on or before the date of Transfer a duly executed acknowledgement to the Company, attaching this Section 1.3 and stating that the transferee unconditionally agrees to be bound by all of the restrictions contained in
this Section 1.3. 

  

	 	iii.	“Transfer” shall mean (A) any offer, pledge, sale, contract to sell, sale of any option or contract to purchase, purchase any option or contract to sell, grant any
option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible \into or exercisable or exchangeable for Common Stock, or (B) enter into any swap
or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Purchased Shares owned by the Purchaser, whether such Purchased Shares were acquired directly from the Company pursuant hereto
or in any secondary sale from another Purchaser hereunder, and regardless of whether any such transaction described in clause (1) or (2) above is to be settled by delivery of securities, in cash or otherwise. 

 (c) In order to ensure compliance with the provisions of this Section 1.3, as of Closing, or promptly thereafter, each Purchaser
will set up a brokerage account at Merrimam to hold such Purchaser’s Purchased Shares acquired pursuant to this Agreement directly from the Company and any Purchased Shares acquired in a secondary sale by another Purchaser. Each Purchaser
hereby authorizes Merrimam to monitor compliance of this Section 1.3 periodically and within Merriman’s discretion; and each Purchaser hereby agrees and covenants that it will cooperate with and assist Merriman in responding to all
requests and enter into and perform any future agreements or instruments reasonably requested by Merriman or the Company to carry the purposes of this Section 1.3. 
 ARTICLE II 
 REPRESENTATIONS AND WARRANTIES 
 Section 2.1. Representations and Warranties of the Company. The Company hereby represents and warrants to the Purchasers, as of the date hereof
and as of the Closing Date (except as set forth on the Schedule of Exceptions attached hereto with each numbered Schedule corresponding to the section number herein), as follows: 
 (a) A “shelf” registration statement on Form S-3 (File No. 333-123017) with respect to the Securities has been prepared by
the Company and filed with 

  

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the Securities and Exchange Commission (the “Commission”) in conformity in all material respects with the requirements of the Securities Act
of 1933, as amended (the “Securities Act”), and the rules and regulations (the “Rules and Regulations”) of the Commission thereunder and has been filed with the Commission. The Company and the transactions
contemplated by this Agreement meet the requirements and comply with the conditions for the use of Form S-3. The Registration Statement (as defined below) meets the requirements of Rule 415(a)(1)(x) under the Securities Act and complies in all
material respects with said rule. Copies of such registration statement, including any amendments thereto, the base prospectus (meeting in all material respects the requirements of the Rules and Regulations) contained therein and the exhibits,
financial statements and schedules, as finally amended and revised, have heretofore been delivered by the Company to the Purchasers. Such registration statement is herein referred to as the “Registration Statement”, which shall be
deemed to include all information omitted therefrom in reliance upon Rules 430A, 430B or 430C under the Securities Act and contained in the Prospectus referred to below, has become effective under the Securities Act and no post-effective amendment
to the Registration Statement has been filed as of the date of this Agreement. The term “Prospectus” as used in this Agreement means the form of base prospectus together with the final prospectus supplement relating to the
Securities (the “Prospectus Supplement”) delivered to the Purchasers on the date hereof. The Registration Statement is effective under the Securities Act and no stop order preventing or suspending the effectiveness of the
Registration Statement or suspending or preventing the use of the Prospectus has been issued by the Commission and no proceedings for that purpose have been instituted or, to the knowledge of the Company, are threatened by the Commission. The
Company, if required by the rules and regulations of the Commission, proposes to file the Prospectus with the SEC pursuant to Rule 424(b). At the time the Registration Statement and any amendments thereto became effective, at the date of this
Agreement and at the Closing Date, the Registration Statement and any amendments thereto conformed and will conform in all material respects to the requirements of the Securities Act and did not and will not contain any untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading; and the Prospectus and any amendments or supplements thereto, at time the Prospectus or any amendment or
supplement thereto was issued and at the Closing Date, conformed and will conform in all material respects to the requirements of the Securities Act and did not and will not contain an untrue statement of a material fact or omit to state a material
fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. Any reference herein to the Registration Statement or the Prospectus or to any amendment or supplement to any of the
foregoing documents shall be deemed to refer to and include any documents incorporated by reference therein, and, in the case of any reference herein to the Prospectus, also shall be deemed to include any documents incorporated by reference therein,
and any supplements or amendments thereto, filed with the Commission after the date of filing of the Prospectus Supplement under Rule 424(b) under the Securities Act and prior to the termination of the offering of the Securities. 
 (b) Incorporated Documents. The documents incorporated or deemed to be incorporated by reference in the Registration Statement and
the Prospectus, at the 

  

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time they were or hereafter are filed with the Commission, complied and will comply in all material respects with the requirements of the Exchange Act of
1934, as amended (the “Exchange Act”) and the rules and regulations of the Commission thereunder (the “Exchange Act Regulations”), and, when read together with the other information in the Prospectus, at the time the
Registration Statement became effective, at the time the Prospectus was issued and at the Closing Time, did not and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein not misleading. 
 (c) Independent Accountants. Both Odenberg, Ullakko,
Muranishi & Co. LLP, and Ernst & Young LLP, who have expressed their respective opinions on the audited financial statements and related schedules incorporated by reference in the Registration Statement and the Prospectus, are each
registered public accounting firms as required by the Securities Act. To the knowledge of the Company, Odenberg, Ullakko, Muranishi & Co. LLP will express its opinion with respect to the financial statements to be included in the
Company’s Annual Report on Form 10-K for the year ending June 30, 2007. 
 (d) Financial Statements. The
financial statements, together with the related notes and schedules incorporated by reference in the Registration Statement and the Prospectus, fairly present the financial position and the results of operations and changes in financial position of
the Company at the respective dates or for the respective periods therein specified. Such statements and related notes and schedules have been prepared in accordance with generally accepted accounting principles applied on a consistent basis except
as may be set forth in the Registration Statement and the Prospectus. 
 (e) No Material Adverse Change in Business.
The Company has not sustained, since the date of the latest audited financial statements included or incorporated by reference in the Registration Statement and the Prospectus, any material loss or interference with its business from fire,
explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Registration Statement and the Prospectus; and,
since such date, there has not been any material adverse change or effect with respect to the condition (financial or otherwise), results of operations, stockholders’ equity, business or prospects of the Company and its subsidiaries taken as a
whole (a “Material Adverse Effect”), otherwise than as set forth or contemplated in the Registration Statement and the Prospectus. 
 (f) Good Standing of the Company. The Company has been duly incorporated and is validly existing as a corporation in good standing under the laws of its jurisdiction of incorporation, is duly qualified to do
business and is in good standing as a foreign corporation in each jurisdiction in which its ownership or lease of property or the conduct of its business requires such qualification, and has all power and authority necessary to own or hold its
properties and to conduct the business in which it is engaged, except where the failure to so qualify or have such power or authority would not have, singularly or in the aggregate, a Material Adverse Effect. Except for NTI-Empire, Inc., 

  

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the Company’s sole subsidiary, the Company does not own or control, directly or indirectly, any corporations, associations or other entities or own any
equity interest in any other entity. The Company does not have any “significant subsidiaries” (as that term is defined in Rule 1-02 of Regulation S-X promulgated under the Securities Act). NTI-Empire, Inc. is the licensee under its license
agreement with Abbott Laboratories, Inc. for the therapeutic Viprinex, and otherwise has no material assets and conducts no material operations. 
 (g) Capitalization. The Company’s authorized equity capitalization is as set forth in the Company’s quarterly report on Form 10-Q for the quarter ended March 31, 2007, and the Common Stock
conforms in all material respects to the description thereof incorporated by reference in the Registration Statement and the Prospectus (without giving effect to the planned reverse stock split described in the Company’s definitive proxy
statement filed with the SEC on August 16, 2007); all of the issued shares of capital stock of the Company have been duly and validly authorized and issued, are fully paid and nonassessable and conform to the description thereof contained in
the Registration Statement and the Prospectus; and, except as set forth or incorporated by reference in the Registration Statement and the Prospectus, and except for securities resulting from the issuance or exercise of employee stock options, no
options, warrants, or other rights to purchase, agreements or other obligations to issue, or rights to convert any obligations into or exchange any securities for shares of capital stock or ownership interest in the Company are outstanding.

 (h) Authorization of Agreement, Indenture, Security Agreement. This Agreement has been duly authorized, executed and
delivered by the Company. The Indenture has been duly qualified under the Trust Indenture Act; the Indenture has been duly authorized, executed and delivered by the Company and the Trustee, and constitutes a legal, valid and binding instrument
enforceable against the Company in accordance with its terms (subject, as to the enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors rights generally from time to time in effect
and to general principles of equity); and the Security Agreement by and between the Company and the Trustee (the “Security Agreement”) has been duly authorized, executed and delivered by the Company, and constitutes a legal, valid
and binding instrument enforceable against the Company in accordance with its terms (subject to the enforcement of remedies, to applicable bankruptcy, reorganization, insolvency, moratorium or other laws affecting creditors rights generally from
time to time in effect and to general principles of equity). This Agreement, the Indenture, the Notes, and the Security Agreement are collectively referred to as the “Transaction Documents”. 
 (i) Authorization and Description of Securities. The Notes, when duly executed, authenticated, issued and delivered as provided in
the Indenture and paid for as provided herein will constitute valid and legally binding obligations of the Company, enforceable against the Company in accordance with their terms (subject, as to the enforcement of remedies, to applicable bankruptcy,
reorganization, insolvency, moratorium or other laws affecting creditors rights generally from time to time in effect and to general principles of equity), and will be entitled to the benefits of the Indenture. 

  

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The Purchased Shares, when duly paid for as provided herein, shall be duly and validly authorized and issued, and shall be fully paid and nonassessable, free
and clear of all liens, taxes and other encumbrances. The Securities and the Indenture will conform, in all material respects, to the respective statements relating thereto contained in the Prospectus and will be in substantially the respective
forms filed or incorporated by reference, as the case may be, as exhibits to the Registration Statement. 
 (j) Absence of
Defaults and Conflicts. The Company (i) is not in violation of its charter or by-laws, (ii) is not in default in any respect, and no event has occurred which, with notice or lapse of time or both, would constitute such a default, in
the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which it is a party or by which it is bound or to which any of its property
or assets is subject and (iii) is not in violation in any respect of any law, ordinance, governmental rule, regulation or court decree to which it or its property or assets may be subject except, with respect to clauses (ii) and (iii), any
violations or defaults which, singularly or in the aggregate, would not have a Material Adverse Effect. The Company and its board of directors have taken all necessary action, if any, in order to exempt the Company’s issuance of the Securities
and any Purchaser’s ownership of the Securities from the provisions of any control share acquisition, business combination or other similar anti-takeover provision under the Certificate of Incorporation of the Company or the laws of the state
of its incorporation which is or could become applicable to any Purchaser as a result of the transactions contemplated by this Agreement. 
 (k) Absence of Labor Dispute. The Company is not aware of any existing or imminent labor disturbance by the employees of any of its or any subsidiary’s principal suppliers, manufacturers, customers or
contractors, which would result in a Material Adverse Effect. 
 (l) Absence of Proceedings. Except as set forth or
incorporated by reference in the Registration Statement and the Prospectus, there is no legal or governmental proceeding pending to which the Company is a party or of which any property or assets of the Company is the subject which, singularly or in
the aggregate, if determined adversely to the Company, might have a Material Adverse Effect or would prevent or adversely affect the ability of the Company to perform its obligations under this Agreement and the other Transaction Documents; and to
the best of the Company’s knowledge, no such proceedings are threatened or contemplated by governmental authorities or threatened by others. 
 (m) Accuracy of Exhibits. There are no contracts or documents which are required to be described in the Registration Statement, the Prospectus or the documents incorporated by reference therein or to be filed
as exhibits thereto which have not been so described and filed as required or otherwise made available to Purchasers. 
 (n)
Clinical Trials. The material human clinical trials conducted by the Company or in which the Company has participated and that are described in the Registration Statement and the Prospectus, or the results of which are referred to in the

  

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Registration Statement and the Prospectus, if any, are the only material human clinical trials currently being conducted by or on behalf of the Company, and,
to the Company’s knowledge, such studies and tests were and, if still pending, are being, conducted in accordance with experimental protocols, procedures and controls pursuant to accepted professional scientific standards; the descriptions of
the results of such studies, tests and trials contained in the Registration Statement and the Prospectus, if any, are accurate and complete in all material respects. Except as set forth in the Registration Statement or Prospectus, the Company has no
knowledge of any other studies or tests, the results of which call into question the results of the clinical trials described in the Registration Statement and the Prospectus. The Company has not received any notices or correspondence from the
United States Food and Drug Administration (the “FDA”) or any other governmental agency requiring the termination, suspension or modification of any clinical trials conducted by, or on behalf of, the Company or in which the Company
has participated that are described in the Registration Statement and the Prospectus, if any, or the results of which are referred to in the Registration Statement and the Prospectus. All human clinical trials previously conducted by or on behalf of
the Company while conducted by or on behalf of the Company, were conducted in accordance with experimental protocols, procedures and controls pursuant to accepted professional scientific standards; the descriptions of the results of such studies,
tests and trials contained in the Registration Statement and the Prospectus, if any, are accurate and complete in all material respects. 
 (o) Absence of Manipulation. Neither the Company nor any of its officers, directors or Affiliates, as such term is defined in Rule 501(b) under the Securities Act (each, an “Affiliate”) has
taken or will take, directly or indirectly, any action designed or intended to stabilize or manipulate the price of any security of the Company, or which caused or resulted in, or which might in the future reasonably be expected to cause or result
in, stabilization or manipulation of the price of any security of the Company. 
 (p) Absence of Further Requirements.
No filing with, or authorization, approval, consent, license, order, registration, qualification or decree of, any court or governmental authority or agency is necessary or required for the performance by the Company of its obligations hereunder, in
connection with the offering, issuance or sale of the Securities hereunder or the consummation of the transactions contemplated by this Agreement, except for the filing of the Prospectus or such as have been already obtained. 
 (q) Investment Company Act; Public Utility Holding Company. The Company is not and, after giving effect to the offering of the
Securities and the application of the proceeds thereof as described in the Prospectus, will not become an “investment company” within the meaning of the Investment Company Act of 1940, as amended (the “Investment Company
Act”) and the rules and regulations of the Commission thereunder. The Company is not a “holding company” or a “public utility company” as such terms are defined in the Public Utility Holding Company Act of 1935, as
amended. 
  

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 (r) Taxes. The Company (i) has filed all necessary federal, state and foreign
income and franchise tax returns or has duly requested extensions thereof, (ii) has paid all federal, state, local and foreign taxes due and payable for which it is liable, except to the extent that any such taxes are being contested in good
faith and by appropriate proceedings, and (iii) does not have any tax deficiency or claims outstanding or assessed or, to the best of the Company’s knowledge, proposed against it which, in each of the cases described in clauses (i),
(ii) and (iii), could reasonably be expected to have a Material Adverse Effect. 
 (s) Nasdaq Listing. The Common
Stock is registered pursuant to Section 12(g) of the Exchange Act and is currently listed on the Nasdaq Capital Market (“NASDAQ”), and the Company has taken no action designed to, or likely to have the effect of, terminating
the registration of the Common Stock under the Exchange Act. The Purchased Shares have been approved for quotation or listing on NASDAQ and will be approved for quotation or listing on any subsequent principal trading market of the Common Stock, if
any. On August 29, 2007, the Company received notification from the NASDAQ Listing Qualifications Department that the Company is not in compliance with NASDAQ continued listing standards, as described in the Company’s Current Report on
Form 8-K filed on August 31, 2007. 
 (t) Insurance. The Company’s insurance coverage and policy amounts are
set forth or incorporated by reference in the Registration Statement and the Prospectus, in all material respects. 
 (u)
Internal Controls. The Company is in material compliance with all provisions of the Sarbanes-Oxley Act of 2002 which are applicable to it as of the Closing Date. The Company and its subsidiary maintain a system of internal accounting controls
sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations, (ii) transactions are recorded as necessary to permit preparation of financial
statements in conformity with GAAP and to maintain asset accountability, (iii) access to assets is permitted only in accordance with management’s general or specific authorization, and (iv) the recorded accountability for assets is
compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Company has established disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for
the Company and designed such disclosure controls and procedures to ensure that information required to be disclosed by the Company in the reports it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the
time periods specified in the Commission’s rules and forms. The Company’s certifying officers have evaluated the effectiveness of the Company’s disclosure controls and procedures as of the end of the period covered by the
Company’s most recently filed periodic report under the Exchange Act (such date, the “Evaluation Date”). The Company presented in its most recently filed periodic report under the Exchange Act the conclusions of the certifying
officers about the effectiveness of the disclosure controls and procedures based on their evaluations as of the Evaluation Date. Since the Evaluation Date, there have been no changes in the Company’s internal control over financial reporting
(as such term is defined in the Exchange Act) that has materially affected, or is 

  

 9 

 
reasonably likely to materially affect, the Company’s internal control over financial reporting, although the Company expects to report the existence of
material weaknesses in its Annual Report on Form 10-K for the year ended June 30, 2007. 
 (v) Certain
Relationships. No relationship, direct or indirect, exists between or among the Company on the one hand, and the directors, officers, stockholders, customers or suppliers of the Company on the other hand, which is required to be described in the
Registration Statement and the Prospectus and which is not so described. 
 (w) Registration Rights. No person or
entity has the right to require registration of shares of Common Stock or other securities of the Company as a result of or in connection with the transactions contemplated by this Agreement, except for persons and entities who have expressly waived
such right or who have been given proper notice and have failed to exercise such right within the time or times required under the terms and conditions of such right. 
 (x) Margin Securities. The Company does not own any “margin securities” as that term is defined in Regulation U of the
Board of Governors of the Federal Reserve System (the “Federal Reserve Board”), and none of the proceeds of the sale of the Securities will be used, directly or indirectly, for the purpose of purchasing or carrying any margin
security, for the purpose of reducing or retiring any indebtedness which was originally incurred to purchase or carry any margin security or for any other purpose which might cause any of the Securities to be considered a “purpose credit”
within the meanings of Regulation T, U or X of the Federal Reserve Board. 
 (y) Disclosure. Except for the
transactions contemplated by this Agreement, the Company confirms that neither it nor any other person acting on its behalf has provided any of the Purchasers or their agents or counsel with any information that constitutes or might constitute
material, nonpublic information that is not set forth in the Prospectus. Neither this Agreement or the Schedules hereto nor any other documents, certificates or instruments furnished to the Purchasers by or on behalf of the Company or any Subsidiary
in connection with the transactions contemplated by this Agreement contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made herein or therein, in the light of the circumstances
under which they were made herein or therein, not misleading. 
 (z) Independent Nature of Purchasers. The Company
acknowledges that the obligations of each Purchaser under the Transaction Documents are several and not joint with the obligations of any other Purchaser, and no Purchaser shall be responsible in any way for the performance of the obligations of any
other Purchaser under the Transaction Documents. The Company acknowledges that the decision of each Purchaser to purchase Securities pursuant to this Agreement has been made by such Purchaser independently of any other purchase and independently of
any information, materials, statements or opinions as to the business, affairs, operations, assets, properties, liabilities, results of operations, condition (financial or otherwise) or prospects of the Company or of its subsidiaries which may have
made or given by any other Purchaser or 

  

 10 

 
by any agent or employee of any other Purchaser, and no Purchaser or any of its agents or employees shall have any liability to any Purchaser (or any other
person) relating to or arising from any such information, materials, statements or opinions. The Company acknowledges that nothing contained herein, or in any Transaction Document, and no action taken by any Purchaser pursuant hereto or thereto,
shall be deemed to constitute the Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Purchasers are in any way acting in concert or as a group with respect to such obligations
or the transactions contemplated by the Transaction Documents. The Company acknowledges that for reasons of administrative convenience only, the Transaction Documents have been prepared by counsel for Platinum Long Term Growth VII, LLC, the lead
Purchaser (the “Lead Purchaser”), and such counsel does not represent all of the Purchasers but only such Purchaser and the other Purchasers have retained their own individual counsel with respect to the transactions contemplated
hereby. The Company acknowledges that it has elected to provide all Purchasers with the same terms and Transaction Documents for the convenience of the Company and not because it was required or requested to do so by the Purchasers. The Company
acknowledges that such procedure with respect to the Transaction Documents in no way creates a presumption that the Purchasers are in any way acting in concert or as a group with respect to the Transaction Documents or the transactions contemplated
hereby or thereby. The Company further acknowledges and agrees that each Purchaser is acting solely in the capacity of an arm’s length purchaser with respect to the Transaction Documents and the transactions contemplated hereby and thereby and
that no Purchaser is (i) an officer or director of the Company, (ii) to the knowledge of the Company, an “affiliate” of the Company or any of its Subsidiaries (as defined in Rule 144 of the Securities Act) or (iii) to the
knowledge of the Company, a “beneficial owner” of more than 10% of the shares of Common Stock (as defined for purposes of Rule 13d-3 of the Exchange Act). The Company further acknowledges that no Purchaser is acting as a financial advisor
or fiduciary of the Company or any of its Subsidiaries (or in any similar capacity) with respect to the Transaction Documents and the transactions contemplated hereby and thereby, and any advice given by a Purchaser or any of its representatives or
agents in connection with the Transaction Documents and the transactions contemplated hereby and thereby is merely incidental to such Purchaser’s purchase of the Securities. The Company further represents to each Purchaser that the
Company’s decision to enter into the Transaction Documents has been based solely on the independent evaluation by the Company and its representatives. 
 (aa) DTC Status; Integration. The Company’s transfer agent is a participant in and the Common Stock is eligible for transfer pursuant to the Depository Trust Company Automated Securities Transfer Program.
Neither the Company, nor any of its Affiliates, nor any person or entity acting on its or their behalf has, directly or indirectly, made any sales of any security, under circumstances that would reasonably be expected to cause this offering of the
Securities to be integrated with prior offerings by the Company for purposes of any applicable shareholder approval provisions of any trading market on which any of the securities of the Company are listed or designated. 
 (bb) Office of Foreign Assets Control. Neither the Company nor, to the Company’s knowledge, any director, officer, agent,
employee or affiliate of the Company 

  

 11 

 
is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”);
and the Company will not directly or indirectly use the proceeds of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the
activities of any person currently subject to any U.S. sanctions administered by OFAC. 
 (cc) Brokerage Fees;
Commissions. Except as described in the Registration Statement and the Prospectus, neither the Company nor any of its Subsidiaries is a party to any contract, agreement or understanding with any person that would give rise to a valid claim
against the Company or the Purchasers for a brokerage commission, finder’s fee or like payment. The Company shall pay, and hold the Purchasers harmless against, any liability, loss or expense (including, without limitation, attorneys’ fees
and out-of-pocket expenses) arising in connection with any such claim. 
 Section 2.2. Representations and Warranties of the
Purchasers. Each of the Purchasers hereby represents and warrants to the Company with respect solely to itself and not with respect to any other Purchaser as follows as of the date hereof and as of the Closing Date: 
 (a) Organization and Standing of the Purchasers. If the Purchaser is an entity, such Purchaser is a corporation, limited liability
company or partnership duly incorporated or organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or organization. 
 (b) Authorization and Power. Each Purchaser has the requisite power and authority to enter into and perform the Transaction
Documents and to purchase the Securities being sold to it hereunder. The execution, delivery and performance of the Transaction Documents by each Purchaser and the consummation by it of the transactions contemplated hereby have been duly authorized
by all necessary corporate or partnership action, and no further consent or authorization of such Purchaser or its Board of Directors, stockholders, or partners, as the case may be, is required. When executed and delivered by the Purchasers, the
other Transaction Documents shall constitute valid and binding obligations of each Purchaser enforceable against such Purchaser in accordance with their terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, liquidation, conservatorship, receivership or similar laws relating to, or affecting generally the enforcement of, creditor’s rights and remedies or by other equitable principles of general application. 

(c) Acquisition for Investment. Each Purchaser is purchasing the Securities solely for its own account and not with a view to or
for sale in connection with distribution. Each Purchaser does not have a present intention to sell any of the Securities, nor a present arrangement (whether or not legally binding) or intention to effect any distribution of any of the Securities to
or through any person or entity; provided, however, that by making the representations herein, such Purchaser does not agree to hold the Securities for any minimum or other specific term (except, with respect to the Purchased Shares,
for the Lock-up Period as set forth herein) and reserves the right 

  

 12 

 
to dispose of the Securities at any time in accordance with Federal and state securities laws applicable to such disposition. 
 (d) Certain Fees. The Purchasers have not employed any broker or finder or incurred any liability for any brokerage or investment
banking fees, commissions, finders’ structuring fees, financial advisory fees or other similar fees in connection with the Transaction Documents. 
 ARTICLE III 
 COVENANTS OF THE COMPANY 
 For a period of two years from the date hereof, the Company covenants with each Purchaser as follows, which covenants are for the benefit of each
Purchaser and their respective permitted assignees. 
 Section 3.1. Securities Compliance. The Company shall take all necessary action
and proceedings as may be required by applicable law, rule and regulation, for the legal and valid issuance, in accordance with the registration requirement of the Securities Act, of the Securities to the Purchasers. 
 Section 3.2. Registration and Listing. The Company shall cause its Common Stock to continue to be registered under Sections 12(b) or 12(g) of the
Exchange Act, to comply in all respects with its reporting and filing obligations under the Exchange Act, to comply with all requirements related to any registration statement filed pursuant to this Agreement, and to not take any action or file any
document (whether or not permitted by the Securities Act or the rules promulgated thereunder) to terminate or suspend such registration or to terminate or suspend its reporting and filing obligations under the Exchange Act or Securities Act, except
as permitted herein or in connection with a merger, tender offer or other acquisition pursuant to which the Company or substantially all of its assets or operations is acquired. The Company will use commercially reasonable efforts to continue the
listing or trading of its Common Stock on NASDAQ or other exchange or market on which the Common Stock is trading. 
 Section 3.3.
Compliance with Laws. The Company shall comply, and cause each Subsidiary to comply, with all applicable laws, rules, regulations and orders, noncompliance with which would be reasonably likely to have a Material Adverse Effect. 

Section 3.4. Keeping of Records and Books of Account. The Company shall keep and cause each Subsidiary to keep adequate records and books of
account, in which complete entries will be made in accordance with GAAP consistently applied, reflecting all financial transactions of the Company and its Subsidiaries, and in which, for each fiscal year, all proper reserves for depreciation,
depletion, obsolescence, amortization, taxes, bad debts and other purposes in connection with its business shall be made. 
 Section 3.5.
Reporting Requirements. If the Company ceases to file its periodic reports with the Commission, or if the Commission ceases making these periodic reports available via the Internet without charge, then the Company shall furnish the following
to each Purchaser: 
  

 13 

 (a) Quarterly Reports filed with the Commission on Form 10-Q as soon as practical after
the document is filed with the Commission, and in any event within five (5) days after the document is filed with the Commission; 
 (b) Annual Reports filed with the Commission on Form 10-K as soon as practical after the document is filed with the Commission, and in any event within five (5) days after the document is filed with the
Commission; and 
 (c) Copies of all notices, information and proxy statements in connection with any meetings, that are, in
each case, provided to holders of shares of Common Stock, contemporaneously with the delivery of such notices or information to such holders of Common Stock. 
 Section 3.6. Other Agreements. The Company shall not enter into any agreement in which the terms of such agreement would restrict or impair the right or ability to perform of the Company or any Subsidiary under
any Transaction Document. 
 Section 3.7. Use of Proceeds. The net proceeds from the sale of the Securities hereunder shall be used by
the Company for working capital and general corporate purposes, including, but not limited to, growth and capital initiatives, investor and public relations, acquisitions and research and development activities, and not to redeem any Common Stock or
securities convertible, exercisable or exchangeable into Common Stock or to settle any outstanding litigation. 
 Section 3.8. Reporting
Status. The Company shall use commercially reasonable efforts to timely file all reports required to be filed with the Commission pursuant to the Exchange Act, and the Company shall not terminate its status as an issuer required to file
reports under the Exchange Act even if the Exchange Act or the rules and regulations thereunder would permit such termination. 
 Section
3.9. Disclosure of Transaction. The Company shall file with the Commission a Current Report on Form 8-K (the “Form 8-K”) describing the material terms of the transactions contemplated hereby (and attaching as exhibits thereto
this Agreement, the form of Note, the Indenture, the Security Agreement, and the Press Release) as soon as practicable following the Closing Date but in no event more than two (2) Trading Days following the Closing Date. “Trading
Day” means any day during which the principal exchange on which the Common Stock is traded shall be open for trading. 
 Section
3.10. Disclosure of Material Information. The Company covenants and agrees that neither it nor any other person acting on its behalf has provided or will provide any Purchaser or its agents or counsel with any information that the Company
believes constitutes material non-public information, unless prior thereto such Purchaser shall have executed a written agreement regarding the confidentiality and use of such information. The Company understands and confirms that each
Purchaser shall be relying on the foregoing representations in effecting transactions in securities of the Company. 
  

 14 

 Section 3.11. Amendments. During any period while the Notes are outstanding, the Company shall not
amend or waive any provision of the Articles or Bylaws of the Company in any way that would adversely affect exercise rights, voting rights, prepayment rights or redemption rights of the holder of the Notes. 
 Section 3.12. Merz Assignment. The Company has granted a security interest in, among other things, all Accounts (as defined in the Security
Agreement) including all rights to payment of sums due and owing, including royalty payments under the License and Cooperation Agreement among the Company, Merz + Co. GmbH & Co. (“Merz”) and Children’s Medical Center
Corp., effective as of April 16, 1998 (the “Merz Agreement”). In the event the Note is not paid in full on or prior to January 15, 2008, all payments due the Company under the Merz Agreement shall be paid directly to the
Trustee and deposited into an account (the “Account”) controlled by the Trustee for the benefit of the Purchaser’s in accordance with the First Supplemental Indenture, with all sums so paid and deposited applied to the
Purchaser’s expenses, interest accrued and unpaid under the Note, and then to repay principal of the Note. Upon payment in full of all obligations of the Company under the Note, payments under the Merz Agreement shall thereafter be made to the
Company and the Trustee shall no longer have dominion over the Account. The Company authorizes the Purchasers to notify Merz of such pledge and assignment and shall cooperate with the Purchasers in directing Merz to make payments under the Merz
Agreement to the Purchasers as set forth herein. The Company shall use its commercially reasonable efforts to ensure that any amendment or modification of the Merz Agreement shall not materially and adversely affect the ability of the Company to
repay the Notes; further, the Company covenants and agrees that, to the extent it receives any payment as consideration for or in connection with any amendment, modification or termination, it shall hold such payment in trust for the benefit of the
holders of the Notes. 
 Section 3.13. Application of Subsequent Financing; Most Favored Nation. The Company shall use the net
proceeds received, directly or indirectly, from any subsequent financing (whether debt, equity or otherwise), including, without limitation, any Permitted Indebtedness (as defined in the Indenture), to prepay the Note prior to the use of such net
proceeds for any other purpose; provided, that the foregoing shall not apply to any proceeds received in an Exempt Issuance. If the Company, or any of its subsidiaries, effects a subsequent financing pursuant to which it issues Common Stock, or
securities convertible for or exercisable into Common Stock, during the Lock-up Period (other than an Exempt Issuance), the Company shall not permit transfer of such Common Stock issued in such subsequent financing on terms less restrictive than
those imposed on the Purchasers, unless simultaneously, the Company and the Purchasers agree to such less-restrictive terms. “Exempt Issuance” means the issuance of (a) shares of Common Stock or options to employees, officers or
directors of the Company pursuant to any stock or option plan duly adopted by a majority of the non-employee members of the Board of Directors of the Company or a majority of the members of a committee of non-employee directors established for such
purpose, (b) securities upon the exercise or exchange of or conversion of any securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date of this Agreement, provided that such
securities have not been amended since the date of this Agreement to increase the number of such securities or to decrease the exercise, exchange or conversion price of any such securities, (c) securities issued pursuant to acquisitions or
strategic transactions approved by a majority of the disinterested directors, but shall not include a transaction to an entity whose 

  

 15 

 
primary business is investing in securities and (d) securities issued in the S-1 financing and (e) securities issued in any transaction that is approved
in writing by the holders of a majority of the Purchase Shares then held by the Purchasers. 
 Section 3.14. Defaults. The Company
acknowledges and agrees that any default or breach of this Agreement by the Company shall constitute an event of default under the Indenture, the Notes and the other Transaction Documents. 
 ARTICLE IV 
 CONDITIONS 
 Section 4.1. Conditions Precedent to the Obligation of the Company to Close and to Sell the Securities. The obligation hereunder of the Company to
close and issue and sell the Securities to the Purchasers at the Closing is subject to the satisfaction or waiver, at or before the Closing of the conditions set forth below. These conditions are for the Company’s sole benefit and may be waived
by the Company at any time in its sole discretion. 
 (a) Accuracy of the Purchasers’ Representations and
Warranties. The representations and warranties of each Purchaser shall be true and correct in all material respects as of the date when made and as of the Closing Date as though made at that time, except for representations and warranties that
are expressly made as of a particular date, which shall be true and correct in all material respects as of such date. 
 (b)
Performance by the Purchasers. Each Purchaser shall have performed, satisfied and complied in all material respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the
Purchasers at or prior to the Closing Date. 
 (c) No Injunction. No statute, rule, regulation, executive order,
decree, ruling or injunction shall have been enacted, entered, promulgated or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation of any of the transactions contemplated by this Agreement.

 (d) Delivery of Purchase Price. The Purchase Price for the Securities shall have been delivered to the Company on
the Closing Date. 
 (e) Delivery of Transaction Documents. The Transaction Documents shall have been duly executed and
delivered by the Purchasers to the Company. 
 (f) Delivery of W-9. Each Purchaser shall have executed and delivered a
Form W-9 (Request for Taxpayer Identification Number and Certification). 
 Section 4.2. Conditions Precedent to the Obligation of the
Purchasers to Close and to Purchase the Securities. The obligation hereunder of the Purchasers to purchase the Securities and consummate the transactions contemplated by this Agreement is subject to the satisfaction or waiver, at or before the
Closing, of each of the conditions set forth below. These conditions are 

  

 16 

 
for the Purchasers’ sole benefit and may be waived by the Purchasers at any time in their sole discretion. 
 (a) Accuracy of the Company’s Representations and Warranties. Each of the representations and warranties of the Company in
this Agreement and the other Transaction Documents shall be true and correct in all material respects as of the Closing Date, except for representations and warranties that speak as of a particular date, which shall be true and correct in all
material respects as of such date. 
 (b) Performance by the Company. The Company shall have performed, satisfied and
complied in all material respects with all covenants, agreements and conditions required by this Agreement to be performed, satisfied or complied with by the Company at or prior to the Closing Date. 
 (c) No Suspension, Etc. Trading in the Common Stock shall not have been suspended by the Commission or the NASDAQ (except for any
suspension of trading of limited duration agreed to by the Company, which suspension shall be terminated prior to the Closing), and, at any time prior to the Closing Date, trading in securities generally as reported by Bloomberg Financial Markets
(“Bloomberg”) shall not have been suspended or limited, or minimum prices shall not have been established on securities whose trades are reported by Bloomberg, or on the New York Stock Exchange, nor shall a banking moratorium have
been declared either by the United States or New York State authorities, nor shall there have occurred any material outbreak or escalation of hostilities or other national or international calamity or crisis of such magnitude in its effect on, or
any material adverse change in any financial market which, in each case, in the judgment of such Purchaser, makes it impracticable or inadvisable to purchase the Securities. 
 (d) No Injunction. No statute, rule, regulation, executive order, decree, ruling or injunction shall have been enacted, entered,
promulgated or endorsed by any court or governmental authority of competent jurisdiction which prohibits the consummation of any of the transactions contemplated by this Agreement. 
 (e) No Proceedings or Litigation. No action, suit or proceeding before any arbitrator or any governmental authority shall have been
commenced, and no investigation by any governmental authority shall have been threatened, against the Company or any Subsidiary, or any of the officers, directors or affiliates of the Company or any Subsidiary seeking to restrain, prevent or change
the transactions contemplated by this Agreement, or seeking damages in connection with such transactions. 
 (f) Opinion of
Counsel. The Purchasers shall have received an opinion of counsel to the Company, dated the date of the Closing, substantially in the form of Exhibit D hereto, with such exceptions and limitations as shall be reasonably acceptable to
counsel to the Purchasers. 
 (g) Notes. At or prior to the Closing, the Company shall have delivered to the Trustee,
for the benefit of the Purchasers, a Note for an aggregate face 

  

 17 

 
amount of $6,000,000, duly authenticated by the Trustee, which shall, promptly following Closing, be cancelled and reissued to the Purchasers in the
denomination set forth on Exhibit A hereto. 
 (h) Purchased Shares. At or prior to the Closing, the Company shall have
delivered to its counsel or its transfer agent instructions to issue the Purchasers (or a nominee) Purchased Shares (registered as set forth in Exhibit A) for delivery at the Closing or immediately thereafter via DWAC as set forth in
Section 1.1 (b); provided, however, the Company may cause physical share certificates, bearing no restrictive legends, to be delivered immediately to the Trustee and cause those physical shares certificates to be cancelled and delivered via
DWAC as set forth in Section 1.1 (b) as soon as reasonably possible; provided, further, to the extent a Purchaser does not wish to hold shares at Merriman, the Company will deliver physical certificates bearing a restrictive legend
referencing Section 1.3 (Lock-Up) of this Agreement and any other applicable restrictive legends. 
 (i) Secretary’s
Certificate. The Company shall have delivered to the Purchasers a secretary’s certificate, dated as of the Closing Date, as to (i) the resolutions adopted by the Board of Directors approving the transactions contemplated hereby,
(ii) the Articles, (iii) the Bylaws, each as in effect at the Closing, and (iv) the authority and incumbency of the officers of the Company executing the Transaction Documents and any other documents required to be executed or
delivered in connection therewith. 
 (j) Officer’s Certificate. On the Closing Date, the Company shall have
delivered to the Purchasers a certificate signed by an executive officer on behalf of the Company, dated as of the Closing Date, confirming the accuracy of the Company’s representations, warranties and covenants as of such Closing Date and
confirming the compliance by the Company with the conditions precedent set forth in paragraphs (a)-(e) and (k) of this Section 4.2 as of the Closing Date. 
 (k) Indenture. As of the Closing Date, the Company and the Trustee shall have executed and delivered the Indenture and the Company
shall have provided a correct and complete copy of the Indenture to the Purchasers. The Trustee shall have delivered a certificate, reasonably satisfactory to the Purchasers, as to the Trustee’s authority, execution and delivery of the
Indenture and the authentication of the Notes, along with copies of all other certificates and opinions delivered pursuant to the Indenture in connection with the Supplemental Indenture and the Notes. 
 (l) Material Adverse Effect. No Material Adverse Effect shall have occurred. 
 (m) Security Agreement. At the Closing, the Company shall have executed and delivered the Security Agreement to the Trustee.

 (n) Registration Statement. The Registration Statement shall be effective and available for the issuance and sale of
the Securities hereunder and the Company shall have delivered to the Purchasers the Prospectus and the Prospectus Supplement as required thereunder; no stop order suspending the effectiveness of the Registration Statement or any post effective
amendment to the Registration Statement 

  

 18 

 
shall be in effect and no proceedings for such purpose shall have been instituted or threatened by the Commission. 
 ARTICLE V 
 INDEMNIFICATION

 Section 5.1. Indemnity. The Company agrees to indemnify and hold harmless each Purchaser (and its respective directors,
officers, affiliates, agents, successors and assigns) from and against any and all losses, liabilities, obligations, claims, deficiencies, costs, damages and expenses (including, without limitation, reasonable attorneys’ fees, charges and
disbursements, costs of investigation and all judgments and amounts paid in settlement) incurred by such Purchaser as a result of any inaccuracy in or breach of the representations, warranties or covenants made by the Company herein or in the other
Transaction Documents (other than any such losses, liabilities, obligations, claims, deficiencies, costs, damages and expenses that a court of competent jurisdiction shall have determined by a final judgment to have resulted directly from the
actions or failure to act of such Purchaser through its bad faith or willful misconduct). 
 Section 5.2. Indemnification Procedure.
Any party entitled to indemnification under this Article V (an “indemnified party”) will give written notice to the indemnifying party of any matter giving rise to a claim for indemnification; provided, that the failure of any party
entitled to indemnification hereunder to give notice as provided herein shall not relieve the indemnifying party of its obligations under this Article V except to the extent that the indemnifying party is actually prejudiced by such failure to give
notice. In case any such action, proceeding or claim is brought against an indemnified party in respect of which indemnification is sought hereunder, the indemnifying party shall be entitled to participate in and, unless in the reasonable judgment
of the indemnifying party a conflict of interest between it and the indemnified party exists with respect to such action, proceeding or claim (in which case the indemnifying party shall be responsible for the reasonable fees and expenses of one
separate counsel for the indemnified parties), to assume the defense thereof with counsel reasonably satisfactory to the indemnified party. In the event that the indemnifying party advises an indemnified party that it will contest such a claim for
indemnification hereunder, or fails, within thirty (30) days of receipt of any indemnification notice to notify, in writing, such person of its election to defend, settle or compromise, at its sole cost and expense, any action, proceeding or
claim (or discontinues its defense at any time after it commences such defense), then the indemnified party may, at its option, defend, settle or otherwise compromise or pay such action or claim. In any event, unless and until the indemnifying party
elects in writing to assume and does so assume the defense of any such claim, proceeding or action, the indemnified party’s costs and expenses arising out of the defense, settlement or compromise of any such action, claim or proceeding shall be
losses subject to indemnification hereunder. The indemnified party shall cooperate fully with the indemnifying party in connection with any negotiation or defense of any such action or claim by the indemnifying party and shall furnish to the
indemnifying party all information reasonably available to the indemnified party which relates to such action or claim. The indemnifying party shall keep the indemnified party fully apprised at all times as to the status of the defense or any
settlement negotiations with respect thereto. If the indemnifying party elects to defend any such action or claim, then the indemnified party shall be entitled to participate in such defense with counsel of its choice at its sole cost and expense.
The indemnifying party shall not be liable for 

  

 19 

 
any settlement of any action, claim or proceeding affected without its prior written consent. Notwithstanding anything in this Article V to the contrary, the
indemnifying party shall not, without the indemnified party’s prior written consent, settle or compromise any claim or consent to entry of any judgment in respect thereof which imposes any future obligation on the indemnified party or which
does not include, as an unconditional term thereof, the giving by the claimant or the plaintiff to the indemnified party of a release from all liability in respect of such claim. The indemnification obligations to defend the indemnified party
required by this Article V shall be made by periodic payments of the amount thereof during the course of investigation or defense, as and when bills are received or expense, loss, damage or liability is incurred, so long as the indemnified party
shall refund such moneys if it is ultimately determined by a court of competent jurisdiction that such party was not entitled to indemnification. The indemnity agreements contained herein shall be in addition to (a) any cause of action or
similar rights of the indemnified party against the indemnifying party or others, and (b) any liabilities the indemnifying party may be subject to pursuant to the law. 
 ARTICLE VI 
 MISCELLANEOUS 
 Section 6.1. Fees and Expenses. Each party shall pay the fees and expenses of its advisors, counsel, accountants and other experts, if any, and
all other expenses, incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement; provided, however, that the Company shall pay all actual attorneys’ fees and expenses
(including disbursements and out-of-pocket expenses) incurred by the Lead Purchaser in connection with (i) the preparation, negotiation, execution and delivery of the Transaction Documents and the transactions contemplated thereunder, which
payment shall be made at Closing in the amount of $20,000, including attorneys’ fees, and (ii) any amendments, modifications or waivers of this Agreement or any of the other Transaction Documents. 
 Section 6.2. Specific Performance; Consent to Jurisdiction; Venue. 
 (a) The Company and the Purchasers acknowledge and agree that irreparable damage would occur in the event that any of the provisions of
this Agreement or the other Transaction Documents were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent or cure
breaches of the provisions of this Agreement or the other Transaction Documents and to enforce specifically the terms and provisions hereof or thereof, this being in addition to any other remedy to which any of them may be entitled by law or equity.

 (b) The parties agree that venue for any dispute arising under this Agreement will lie exclusively in the state or federal
courts located in New York County, New York, and the parties irrevocably waive any right to raise forum non conveniens or any other argument that New York is not the proper venue. The parties irrevocably consent to personal jurisdiction in
the state and federal courts of the state of New York. The Company and each Purchaser consent to process being served in any such suit, action or proceeding by mailing a copy thereof to such party at the address in effect for 

  

 20 

 
notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing in this
Section 6.2 shall affect or limit any right to serve process in any other manner permitted by law. The Company and the Purchasers hereby agree that the prevailing party in any suit, action or proceeding arising out of or relating to the
Securities, this Agreement or the other Transaction Documents, shall be entitled to reimbursement for reasonable legal fees from the non-prevailing party. The parties hereby waive all rights to a trial by jury. 
 Section 6.3. Entire Agreement; Amendment. This Agreement and the Transaction Documents contain the entire understanding and agreement of the
parties with respect to the matters covered hereby and, except as specifically set forth herein or in the other Transaction Documents, neither the Company nor any Purchaser make any representation, warranty, covenant or undertaking with respect to
such matters, and they supersede all prior understandings and agreements with respect to said subject matter, all of which are merged herein. No provision of this Agreement may be waived or amended other than by a written instrument signed by the
Company and the Purchasers holding at least a majority of the principal amount of the Notes then held by the Purchasers. Any amendment or waiver effected in accordance with this Section 6.3 shall be binding upon each Purchaser (and their
permitted assigns) and the Company. 
 Section 6.4. Notices. Any notice, demand, request, waiver or other communication required or
permitted to be given hereunder shall be in writing and shall be effective (a) upon hand delivery by telecopy or facsimile at the address or number designated below (if delivered on a business day during normal business hours where such notice
is to be received), or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing
by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be: 
  

			
	 If to the Company:
	    	Neurobiological Technologies, Inc.
		    	2000 Powell Street, Suite 800
		    	Emeryville, CA 94608
		    	Attention: Craig W. Carlson,
		    	Vice President, Finance and Chief Financial Officer
		    	Telephone:      (510) 595-6000

  

 21 

 with copies (which copies 
 shall not constitute notice 
 to the Company) to: 
  

	
	 Stephen C. Ferruolo

	 Goodwin Procter LLP

	 4365 Executive Drive

	 San Diego, CA 92121

	 Telephone:      (858) 202-2710

	 Facsimile:       (858) 457-1255

 If to any Purchaser: At the address of such Purchaser set forth on Exhibit A to this Agreement, with copies
to Purchaser’s counsel as set forth on Exhibit A or as specified in writing by such Purchaser with copies which copies shall not constitute notice to the Company) to: 
  

	
	 Shane McCormack, Esq.

	 Burak Anderson & Melloni, plc

	 30 Main Street, Suite 210

	 Burlington, Vermont 05401

	 Telephone:     (802) 862-0500

	 Facsimile:      (802) 862-0500

 Any party hereto may from time to time change its address for notices by giving written notice of
such changed address to the other party hereto. 
 Section 6.5. Waivers. No waiver by either party of any default with respect to any
provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right
hereunder in any manner impair the exercise of any such right accruing to it thereafter. No consideration shall be offered or paid to any Purchaser to amend or consent to a waiver or modification of any provision of any of the Transaction Documents
unless the same consideration is also offered to all of the parties to the Transaction Documents. This provision constitutes a separate right granted to each Purchaser by the Company and shall not in any way be construed as the Purchasers acting in
concert or as a group with respect to the purchase, disposition or voting of Securities or otherwise. 
 Section 6.6. Headings. The
article, section and subsection headings in this Agreement are for convenience only and shall not constitute a part of this Agreement for any other purpose and shall not be deemed to limit or affect any of the provisions hereof. 
 Section 6.7. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and
assigns. After the Closing, the assignment by a party to this Agreement of any rights hereunder shall not affect the obligations of such party under this Agreement. Subject to Section 1.3 hereof, the Purchasers may assign the Securities and its
rights under this Agreement and the other Transaction Documents and any other rights hereto and thereto without the consent of the Company. 
  

 22 

 Section 6.8. No Third Party Beneficiaries. This Agreement is intended for the benefit of the
parties hereto and their respective permitted successors and assigns and is not for the benefit of, nor may any provision hereof be enforced by, any other person. 
 Section 6.9. Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws of the State of New York, without giving effect to any of the conflicts of law principles which
would result in the application of the substantive law of another jurisdiction. This Agreement shall not be interpreted or construed with any presumption against the party causing this Agreement to be drafted. 
 Section 6.10. Survival. The representations and warranties of the Company and the Purchasers shall survive the execution and delivery hereof and
the Closing until the second anniversary of the Closing, the agreements and covenants set forth in Article III shall survive the execution and delivery hereof until the second anniversary of the Closing (or the repayment in full of the Notes, if
earlier), and the agreements and covenants set forth in Articles I, V and VI of this Agreement shall survive the execution and delivery hereof and such Closing hereunder. 
 Section 6.11. Counterparts. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and shall become effective when counterparts
have been signed by each party and delivered to the other parties hereto, it being understood that all parties need not sign the same counterpart. 
 Section 6.12. Publicity. The Company agrees that it will not disclose, and will not include in any public announcement, the names of the Purchasers without the consent of the Purchasers, which consent shall not be unreasonably
withheld or delayed, or unless and until such disclosure is required by law, rule or applicable regulation, including without limitation any disclosure pursuant to the Registration Statement, and then only to the extent of such requirement.

 Section 6.13. Severability. The provisions of this Agreement are severable and, in the event that any court of competent
jurisdiction shall determine that any one or more of the provisions or part of the provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or
unenforceability shall not affect any other provision or part of a provision of this Agreement and this Agreement shall be reformed and construed as if such invalid or illegal or unenforceable provision, or part of such provision, had never been
contained herein, so that such provisions would be valid, legal and enforceable to the maximum extent possible. 
 Section 6.14. Further
Assurances. From and after the date of this Agreement, upon the request of the Purchasers or the Company, the Company and each Purchaser shall execute and deliver such instruments, documents and other writings as may be reasonably necessary or
desirable to confirm and carry out and to effectuate fully the intent and purposes of this Agreement and the other Transaction Documents. 
 Section 6.15. Representation of Lead Purchaser. It is acknowledged by each Purchaser that the Lead Purchaser has retained Burak Anderson & Melloni, PLC to act as its counsel in connection with the transactions contemplated
by the Transaction Documents and that Burak 

  

 23 

 
Anderson & Melloni, PLC has not acted as counsel for any Purchaser, other than the Lead Purchaser, in connection with the transactions contemplated
by the Transaction Documents and that none of such Purchasers has the status of a client for conflict of interest or any other purposes as a result thereof. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

 24 

 IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed
by their respective authorized officers as of the date first above written. 
  

			
	NEUROBIOLOGICAL TECHNOLOGIES, INC.
		
	By:	 	/s/ Craig W. Carlson
		 	Name: Craig W. Carlson
		 	Title: Chief Financial Officer

 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK 
 SIGNATURE PAGE FOR PURCHASERS FOLLOWS] 

 EXHIBIT A 
 LIST OF PURCHASERS 
   Notes 
  

			
	Name and address of Purchasers	  	Investment Amount and Denominations of Notes
	 Platinum Long Term Growth VII, LLC
 152 W 57th Street, 54th Floor
 NYC, NY 10019
	  	$4,000,000.00*
	 Cranshire Capital, L.P.
 3100 Dundee Road, Suite 703
 Northbrook, IL 60062
	  	$100,000.00  
	 Iroquois Master Fund Ltd.
 641 Lexington Avenue, 26th Floor
 New York, NY 10022
	  	$107,142.72  
	 Otago Partners, LLC
 787 7th Avenue, 48th Floor
 New York, NY 10019
	  	$127,551.32  
	 Highbridge International LLC
 By: Highbridge Capital Management, LLC
 c/o Highbridge Capital Management, LLC
 9 West 57th Street, 27th Floor
 New York, NY 10019
	  	$1,237,754.65*
	 Capital Ventures International
 By: Heights Capital Management, Inc.
 its authorized agent
 c/o Heights Capital Management
 101 California Street, Suite 3250
 San Francisco, CA 94111
	  	$300,000.00  
	 Hudson Bay Fund LP
 120 Broadway, 40th Floor
 New York, NY 10271
	  	$57,397.86  
	 Hudson Bay Overseas Fund, LTD
 120 Broadway, 40th Floor
 New York, NY 10271
	  	$70,153.46  

   Common Stock 
  

			
	Name and address of Purchasers	  	Number of Shares of Common Stock
	 Platinum Long Term Growth VII, LLC
 152 W 57th Street, 54th Floor
 NYC, NY 10019
	  	 1,833,333*

	 Cranshire Capital, L.P.
 3100 Dundee Road, Suite 703
 Northbrook, IL 60062
	  	45,833  
	 Iroquois Master Fund Ltd.
 641 Lexington Avenue, 26th Floor
 New York, NY 10022
	  	49,107  
	 Otago Partners, LLC
 787 7th Avenue, 48th Floor
 New York, NY 10019
	  	58,461  
	 Highbridge International LLC
 By: Highbridge Capital Management, LLC
 c/o Highbridge Capital Management, LLC
 9 West 57th Street, 27th Floor
 New York, NY 10019
	  	567,304*
	 Capital Ventures International
 By: Heights Capital Management, Inc.
 its authorized agent
 c/o Heights Capital Management
 101 California Street, Suite 3250
 San Francisco, CA 94111
	  	137,500  
	 Hudson Bay Fund LP
 120 Broadway, 40th Floor
 New York, NY 10271
	  	26,307  
	 Hudson Bay Overseas Fund, LTD
 120 Broadway, 40th Floor
 New York, NY 10271
	  	32,154  

 * In a privately negotiated transaction, effective immediately upon Closing of the transactions contemplated by
this Agreement, Platinum Long Term Growth VII, LLC agreed to allocate to Highbridge International LLC its purchase of 220,166 Purchased Shares and to allocate $500,000 principal amount of the Notes to Highbridge International LLC. Because this
allocation was effective upon Closing, the Company sold Notes and Purchased Shares in accordance with this allocation and the tables above reflect the respective parties’ investments and ownership of Purchased Shares and Notes after giving
effect to this allocation. 
  

 i 

 EXHIBIT B 
 FORM OF NOTE 
  

 ii 

 EXHIBIT C 
 LIST OF STATES 
  
  
  
 [N/A] 

 EXHIBIT D 
 FORM OF LEGAL OPINION 
  

 ivSecurity Agreement

 Exhibit 10.2 
 SECURITY AGREEMENT 
 This SECURITY AGREEMENT, dated as of September 12, 2007 (this
“Agreement”), is between Neurobiological Technologies, Inc., a Delaware corporation (the “Company” or the “Debtor”), and U.S. Bank National Association, as trustee under the Indenture (as defined
below), and its transferees and assigns (the “Secured Party”). 
 W I T N E S S E T H: 
 WHEREAS, the Company and the Secured Party have entered
into an indenture (the “First Indenture”), dated as of the date hereof, as supplemented and amended by the First Supplemental Indenture dated as of the date hereof (the “Supplemental Indenture”), by and between the
Company and the Trustee (the First Indenture as amended and supplemented by the Supplemental Indenture is referred to herein as the “Indenture”); 
 WHEREAS, the Company is issuing, pursuant to the Indenture, Six Million Dollars ($6,000,000) aggregate principal amount of the Company’s Senior Secured Notes (the “Notes”) to various lenders (the
“Lenders”) represented by the Secured Party; 
 WHEREAS, pursuant to the Supplemental Indenture, the Notes are to be secured by a
pledge of and lien over substantially all of the assets of the Company; and 
 WHEREAS, in order to induce the purchasers of the Notes to
extend the loans evidenced by the Notes, the Company has agreed to execute and deliver to the Secured Party this Agreement and to grant the Secured Party the security interest set forth herein to secure the prompt payment, performance and discharge
in full of all of the Company’s obligations under the Indenture and the Notes. 
 NOW, THEREFORE, in consideration of the agreements
herein contained and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Certain Definitions. As used in this Agreement, the following terms shall have the meanings set forth in this Section 1. Terms used but not otherwise defined in this Agreement that are defined in
Article 9 of the UCC (including the terms “account”, “chattel paper”, “commercial tort claim”, “deposit account”, “document”, “equipment”, “fixtures”, “general
intangibles”, “goods”, “instruments”, “inventory”, “investment property”, “letter-of-credit rights”, “proceeds”, “securities” and “supporting obligations”) shall
have the respective meanings given such terms in Article 9 of the UCC. 
 (a) “Collateral” means the
collateral in which the Secured Party is granted a security interest by this Agreement and which shall include the following personal property of the Debtor, whether presently owned or existing or hereafter acquired or coming into existence,
wherever situated, and all additions and accessions thereto and all substitutions and replacements thereof, and all proceeds, products and accounts thereof, including, without limitation, all proceeds from the sale or transfer of the Collateral and

  

 1 

 
of insurance covering the same and of any tort claims in connection therewith, and all dividends, interest, cash, notes, securities, equity interest or other
property at any time and from time to time acquired, receivable or otherwise distributed in respect of, or in exchange for, any or all of the Pledged Securities (as defined below): 
 (i) All goods, including, without limitation, (A) all machinery, equipment, computers, motor vehicles, trucks, tanks, boats, ships,
appliances, furniture, special and general tools, fixtures, test and quality control devices and other equipment of every kind and nature and wherever situated, together with all documents of title and documents representing the same, all additions
and accessions thereto, replacements therefor, all parts therefor, and all substitutes for any of the foregoing and all other items used and useful in connection with the Debtor’s businesses and all improvements thereto; and (B) all
inventory, including all materials, work in process and finished goods; 
 (ii) All contract rights and other general
intangibles, including, without limitation, all partnership interests, membership interests, stock or other securities, rights under any of the Organizational Documents, agreements related to the Pledged Securities, licenses, distribution and other
agreements, computer software (whether “off-the-shelf”, licensed from any third party or developed by the Debtor), computer software development rights, leases, franchises, customer lists, quality control procedures, grants and rights,
goodwill, trademarks, service marks, trade styles, trade names, patents, patent applications, copyrights, and income tax refunds; 
 (iii) All accounts, together with all instruments, all documents of title representing any of the foregoing, all rights in any merchandising, goods, equipment, motor vehicles and trucks which any of the same may represent, and all right,
title, security and guaranties with respect to each account, including any right of stoppage in transit; 
 (iv) All
documents, letter-of-credit rights, instruments and chattel paper; 
 (v) All commercial tort claims; 
 (vi) All deposit accounts and all cash (whether or not deposited in such deposit accounts); 
 (vii) All investment property; 
 (viii) All supporting obligations; 
 (ix) All files, records, books of account, business
papers, and computer programs; and 
  

 2 

 (x) the products and proceeds of all of the foregoing Collateral set forth in clauses
(i)-(ix) above. 
 Without limiting the generality of the foregoing, the “Collateral” shall include all
investment property and general intangibles respecting ownership and/or other equity interests in each subsidiary, including, without limitation, the shares of capital stock and the other equity interests listed on Schedule H hereto (as the
same may be modified from time to time pursuant to the terms hereof), and any other shares of capital stock and/or other equity interests of any other direct or indirect subsidiary of the Debtor obtained in the future, and, in each case, all
certificates representing such shares and/or equity interests and, in each case, all rights, options, warrants, stock, other securities and/or equity interests that may hereafter be received, receivable or distributed in respect of, or exchanged
for, any of the foregoing and all rights arising under or in connection with the Pledged Securities, including, but not limited to, all dividends, interest and cash. 
 Notwithstanding the foregoing, nothing herein shall be deemed to constitute an assignment of any asset which, in the event of an
assignment, becomes void by operation of applicable law or the assignment of which is otherwise prohibited by applicable law (in each case to the extent that such applicable law is not overridden by Sections 9-406, 9-407 and/or 9-408 of the UCC or
other similar applicable law); provided, however, that to the extent permitted by applicable law, this Agreement shall create a valid security interest in such asset and, to the extent permitted by applicable law, this Agreement shall create a valid
security interest in the proceeds of such asset. 
 (b) “Intellectual Property” means the collective
reference to all rights, priorities and privileges relating to intellectual property, whether arising under United States, multinational or foreign laws or otherwise, including, without limitation, (i) all copyrights arising under the laws of
the United States, any other country or any political subdivision thereof, whether registered or unregistered and whether published or unpublished, all registrations and recordings thereof, and all applications in connection therewith, including,
without limitation, all registrations, recordings and applications in the United States Copyright Office, (ii) all letters patent of the United States, any other country or any political subdivision thereof, all reissues and extensions thereof,
and all applications for letters patent of the United States or any other country and all divisions, continuations and continuations-in-part thereof, (iii) all trademarks, trade names, corporate names, company names, business names, fictitious
business names, trade dress, service marks, logos, domain names and other source or business identifiers, and all goodwill associated therewith, now existing or hereafter adopted or acquired, all registrations and recordings thereof, and all
applications in connection therewith, whether in the United States Patent and Trademark Office or in any similar office or agency of the United States, any State thereof or any other country or any political subdivision thereof, or otherwise, and
all common law rights related thereto, (iv) all trade secrets arising under the laws of the United States, any other country or any political subdivision thereof, (v) all rights to obtain any reissues, renewals or extensions of the
foregoing, (vi)

  

 3 

 
all licenses for any of the foregoing, and (vii) all causes of action for infringement of the foregoing. 
 (c) “Necessary Endorsement” means undated stock powers endorsed in blank or other proper instruments of assignment duly
executed and such other instruments or documents as the Secured Party may reasonably request. 
 (d)
“Obligations” means all of the liabilities and obligations (primary, secondary, direct, contingent, sole, joint or several) due or to become due, or that are now or may be hereafter contracted or acquired, or owing, of the Debtor
pursuant to the Indenture and the Notes and any other instruments, agreements or other documents executed and/or delivered in connection herewith or therewith, in each case, whether now or hereafter existing, voluntary or involuntary, direct or
indirect, absolute or contingent, liquidated or unliquidated, whether or not jointly owed with others, and whether or not from time to time decreased or extinguished and later increased, created or incurred, and all or any portion of such
obligations or liabilities that are paid, to the extent all or any part of such payment is avoided or recovered directly or indirectly from the Secured Party as a preference, fraudulent transfer or otherwise as such obligations may be amended,
supplemented, converted, extended or modified from time to time. Without limiting the generality of the foregoing, the term “Obligations” shall include, without limitation: (i) principal of, and interest on, the Notes and the loans
extended pursuant thereto; (ii) any and all other fees, indemnities, costs, obligations and liabilities of the Debtor from time to time under or in connection with this Agreement, the Indenture, the Notes and any other instruments, agreements
or other documents executed and/or delivered in connection herewith or therewith; and (iii) all amounts (including but not limited to post-petition interest) in respect of the foregoing that would be payable but for the fact that the
obligations to pay such amounts are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving the Debtor. 
 (e) “Organizational Documents” means, with respect to a Person, the documents by which such Person was organized (such as
a certificate of incorporation, certificate of limited partnership or articles of organization, and including, without limitation, any certificates of designation for preferred stock or other forms of preferred equity) and which relate to the
internal governance of such Person (such as bylaws, a partnership agreement or an operating, limited liability or members agreement) 
 (f) “Person” means any individual, firm, corporation, partnership, trust, incorporated or unincorporated association, joint venture, joint stock company, limited liability company, governmental authority or other entity of
any kind. 
 (g) “Pledged Securities” shall have the meaning ascribed to such term in Section 4(i).

 (h) “UCC” means the Uniform Commercial Code of the State of New York and/or any other applicable law of
any state or states which have jurisdiction with respect to all, or any portion of, the Collateral or this Agreement, from time to time. It is the 

  

 4 

 
intent of the parties that defined terms in the UCC should be construed in their broadest sense so that the term “Collateral” will be construed in
its broadest sense. Accordingly if there are, from time to time, changes to defined terms in the UCC that broaden the definitions, they are incorporated herein, and if existing definitions in the UCC are broader than the amended definitions, the
existing ones shall be controlling. 
 2. Grant of Security Interest in Collateral. As an inducement for the Lenders to extend the
loans as evidenced by the Notes, for the Secured Party to act as trustee, and to secure the complete and timely payment, performance and discharge in full, as the case may be, of all of the Obligations, the Debtor hereby unconditionally and
irrevocably pledges, grants and hypothecates to the Secured Party a security interest in and to, a lien upon, and a right of set-off against, all of its right, title and interest of whatsoever kind and nature in and to the Collateral (a
“Security Interest” and collectively, the “Security Interests”). 
 3. Delivery of Certain
Collateral. Contemporaneously with or prior to the execution of this Agreement, the Debtor shall deliver or cause to be delivered to the Secured Party (a) a lost stock indemnity, or equivalent, certifying that the stock certificates of
NTI-Empire, Inc., the Debtor’s sole direct or indirect subsidiary, (b) a letter to the Secured Party indicating that the Debtor has requested a new stock certificate of NTI-Empire, Inc. evidencing the Pledged Securities be issued and
delivered to Secured Party as promptly as possible and no later than Friday, September 14, 2007, and (c) any and all certificates and other instruments or documents representing any of the other Collateral, in each case, together with all
Necessary Endorsements. The Debtor is, contemporaneously with the execution hereof, delivering to the Secured Party, or has previously delivered to the Secured Party, a true and correct copy of each Organizational Document governing any of the
Pledged Securities. 
 4. Representations, Warranties, Covenants and Agreements of the Debtor. Except as set forth under the
corresponding section of the disclosure schedules delivered to the Secured Party concurrently herewith (the “Disclosure Schedules”), which Disclosure Schedules shall be deemed a part hereof, the Debtor represents and warrants to,
and covenants and agrees with, the Secured Party as follows: 
 (a) The Debtor has the requisite corporate power and authority
to enter into this Agreement and otherwise to carry out its obligations hereunder. The execution, delivery and performance by the Debtor of this Agreement and the filings contemplated herein have been duly authorized by all necessary action on the
part of the Debtor and no further action is required by the Debtor. This Agreement has been duly executed by the Debtor. This Agreement constitutes the legal, valid and binding obligation of the Debtor, enforceable against the Debtor in accordance
with its terms except as such enforceability may be limited by applicable bankruptcy, insolvency, reorganization and similar laws of general application relating to or affecting the rights and remedies of creditors and by general principles of
equity. 
 (b) The Debtor has no place of business or offices where its books of account and records are kept (other than
temporarily at the offices of their attorneys or accountants) or places where Collateral is stored or located, except as set forth on 

  

 5 

 
Schedule A attached hereto. The Debtor owns of record, subject only to Permitted Liens (as defined in the Indenture), the real property where such
Collateral is located, as identified on Schedule A. Except as disclosed on Schedule A, none of such Collateral is in the possession of any consignee, bailee, warehouseman, agent or processor. 
 (c) Except for Permitted Liens (as defined in the Indenture) and except as set forth on Schedule B attached hereto, the Debtor is
the sole owner of the Collateral, free and clear of any liens, security interests, encumbrances, rights or claims, and are fully authorized to grant the Security Interests. Except with respect to Permitted Liens (as defined in the Indenture) and
except as set forth on Schedule B attached hereto, there is not on file in any governmental or regulatory authority, agency or recording office an effective financing statement, security agreement, license or transfer or any notice of any of
the foregoing (other than those that will be filed in favor of the Secured Party pursuant to this Agreement) covering or affecting any of the Collateral. Except with respect to Permitted Liens (as defined in the Indenture), except as set forth on
Schedule B attached hereto, so long as this Agreement shall be in effect, the Debtor shall not execute and shall not knowingly permit to be on file in any such office or agency any other financing statement or other similar document or
instrument (except to the extent filed or recorded in favor of the Secured Party pursuant to the terms of this Agreement). 
 (d) No written claim has been received by the Debtor that any Collateral or Debtor’s use of any Collateral violates the rights of any third party. There has been no adverse decision to the Debtor’s claim of ownership rights in or
exclusive rights to use the Collateral in any jurisdiction or to the Debtor’s right to keep and maintain such Collateral in full force and effect, and there is no proceeding involving said rights pending or, to the best knowledge of the Debtor,
threatened before any court, judicial body, administrative or regulatory agency, arbitrator or other governmental authority. 
 (e) The Debtor shall at all times maintain its books of account and records relating to the Collateral at its principal place of business (except when temporarily kept at the offices of its attorneys or accountants) and its Collateral at
the locations set forth on Schedule A attached hereto and may not relocate such books of account and records or tangible Collateral unless it delivers to the Secured Party at least 30 days prior to such relocation (i) written notice of
such relocation and the new location thereof (which must be within the United States) and (ii) evidence that appropriate financing statements under the UCC and other necessary documents have been filed and recorded and other steps have been
taken to perfect the Security Interests to create in favor of the Secured Party, subject to Permitted Liens (as defined in the Indenture), a valid, perfected and continuing perfected first priority lien in the Collateral. 
 (f) This Agreement creates in favor of the Secured Party a valid security interest in the Collateral, subject only to Permitted Liens (as
defined in the Indenture), securing the payment and performance of the Obligations. Upon making the filings described in the immediately following paragraph, all security interests created hereunder in any Domestic Collateral (defined below) which
may be perfected by filing UCC financing statements shall have been duly perfected. Except for the filing of the UCC 

  

 6 

 
financing statements referred to in the immediately following paragraph, the recordation of the Intellectual Property Security Agreement (as defined below)
(if any) or this Agreement with respect to copyrights and copyright applications in the United States Copyright Office referred to in paragraph (p), and the delivery of the certificates and other instruments provided in Section 3, no action is
necessary to create, perfect or protect the security interests created hereunder in the Domestic Collateral. Without limiting the generality of the foregoing, except for the filing of said financing statements and the recordation of said
Intellectual Property Security Agreement or this Agreement with the United States Patent and Trademark Office, no consent of any third parties and no authorization, approval or other action by, and no notice to or filing with, any governmental
authority or regulatory body is required for (i) the execution, delivery and performance of this Agreement, (ii) the creation or perfection of the Security Interests created hereunder in the Domestic Collateral or (iii) the
enforcement of the rights of the Secured Party hereunder. “Domestic Collateral” means Collateral located in the United States of America or that arises from any transaction or interest in any entity located in or operating within the
United States of America. For avoidance of doubt, any instrument, contract right, or account held by the Debtor is located within the United States of America even if the instrument, contract right, or account arises from a transaction with a party
outside the United States of America. Domestic Collateral shall exclude inventory that is snake venom and owned by the Debtor and located in the Federal Republic of Germany. Notwithstanding anything to the contrary contained herein, the Debtor does
not make, and shall not be deemed to make, any representation or warranty with respect to the perfection and lien priority in Collateral other than Domestic Collateral. 
 (g) The Debtor hereby authorizes the Secured Party to file one or more financing statements under the UCC with respect to the Security
Interests with the proper filing and recording agencies in any jurisdiction deemed proper by it, which UCC financing statement may describe the collateral as “All assets”, or otherwise perfect the security interest granted herein
(including filing and/or recording this Agreement or the Intellectual Property Security Agreement with the United States Patent and Trademark Office). 
 (h) The execution, delivery and performance of this Agreement by the Debtor does not (i) violate any of the provisions of any Organizational Documents of the Debtor or any judgment, decree, order or award of any
court, governmental body or arbitrator or any applicable law, rule or regulation applicable to the Debtor or (ii) conflict with, or constitute a default (or an event that with notice or lapse of time or both would become a default) under, or
give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement, credit facility, debt or other instrument (evidencing the Debtor’s debt or otherwise) or other
understanding to which the Debtor is a party or by which any property or asset of the Debtor is bound or affected. If any, all required consents (including, without limitation, from stockholders or creditors of the Debtor) necessary for the Debtor
to enter into and perform its obligations hereunder have been obtained. 
  

 7 

 (i) The capital stock and other equity interests listed on Schedule H hereto (the
“Pledged Securities”) represent all of the capital stock and other equity interests in the subsidiaries of the Company, and represent all capital stock and other equity interests owned, directly or indirectly, by the Company. All of
the Pledged Securities are validly issued, fully paid and nonassessable, and the Company is the legal and beneficial owner of the Pledged Securities, free and clear of any lien, security interest or other encumbrance except for the security
interests created by this Agreement and other Permitted Liens (as defined in the Indenture). The Debtor shall cause the pledge and security interest of the Secured Party to be duly noted in its corporate books and records. 
 (j) The ownership and other equity interests in partnerships and limited liability companies (if any) included in the Collateral (the
“Pledged Interests”) by their express terms do not provide that they are securities governed by Article 8 of the UCC and are not held in a securities account or by any financial intermediary. 
 (k) Except for Permitted Liens (as defined in the Indenture), the Debtor shall at all times maintain the liens and Security Interests
provided for hereunder as valid and perfected first priority liens and security interests in the Collateral in favor of the Secured Party until this Agreement and the Security Interests hereunder shall be terminated pursuant to Section 14
hereof. The Debtor hereby agrees to defend the same against the claims of any and all persons and entities and to safeguard and protect all Collateral for the account of the Secured Party. At the reasonable request of the Secured Party, the Debtor
will sign and deliver to the Secured Party at any time or from time to time one or more financing statements pursuant to the UCC in form reasonably satisfactory to the Secured Party and will pay the cost of filing the same in all public offices
wherever filing is necessary to effect the rights and obligations provided for herein. Without limiting the generality of the foregoing, the Debtor shall pay all fees, taxes and other amounts necessary to maintain the Collateral and the Security
Interests hereunder, and the Debtor shall obtain and furnish to the Secured Party from time to time, upon demand, such releases and/or subordinations of claims and liens which may be required to maintain in accordance with this Agreement the
priority of the Security Interests hereunder. 
 (l) Except for Permitted Liens (as defined in the Indenture), the Debtor will
not transfer, pledge, hypothecate, encumber, license, sell or otherwise dispose of any of the Collateral (except for non-exclusive licenses granted by the Debtor in its ordinary course of business and sales of inventory by the Debtor in its ordinary
course of business) without the prior written consent of the Secured Party; provided, however that the Debtor may alter, transfer or dispose of its snake venom inventory, free of charge, in connection with the Debtor conducting its current and
future clinical trials, in the ordinary course of business. 
 (m) The Debtor shall keep and preserve its equipment, inventory
and other tangible Collateral in good condition, repair and order and shall not operate or locate any such Collateral (or cause to be operated or located) in any area excluded from insurance coverage. 
  

 8 

 (n) The Debtor shall maintain with financially sound and reputable insurers, insurance
with respect to the Collateral, including Collateral hereafter acquired, against loss or damage of the kinds and in the amounts customarily insured against by entities of established reputation having similar properties similarly situated and in
such amounts as are customarily carried under similar circumstances by other such entities and otherwise as is prudent for entities engaged in similar businesses but in any event sufficient to cover the full replacement cost thereof. 
 (o) The Debtor shall, within ten (10) days of obtaining knowledge thereof, advise the Secured Party promptly, in sufficient detail,
of any material adverse change in the Collateral, and of the occurrence of any event which would have a material adverse effect on the value of the Collateral or on the Secured Party’s security interest therein. 
 (p) The Debtor shall promptly execute and deliver to the Secured Party such further deeds, mortgages, assignments, security agreements,
financing statements or other instruments, documents, certificates and assurances and take such further action as the Secured Party may from time to time reasonably request as necessary to perfect, protect or enforce the Secured Party’s
security interest in the Collateral including, without limitation, if applicable and requested in writing by the Secured Party, the execution and delivery of a separate security agreement with respect to the Debtor’s Intellectual Property
(“Intellectual Property Security Agreement”) in which the Secured Party has been granted a security interest hereunder, substantially in a form reasonably acceptable to the Secured Party, which Intellectual Property Security
Agreement, other than as stated therein, shall be subject to all of the terms and conditions hereof. 
 (q) The Debtor shall
permit the Secured Party and its representatives and agents access to inspect the Collateral during normal business hours, upon reasonable prior notice, and to make copies of records pertaining to the Collateral as may be reasonably requested by the
Secured Party from time to time; provided, however, the Secured Party shall execute a customary confidentiality and non-disclosure agreement prior to such access. 
 (r) The Debtor shall take all steps reasonably necessary to diligently pursue and seek to preserve, enforce and collect any rights,
claims, causes of action and accounts receivable in respect of the Collateral. 
 (s) The Debtor shall promptly notify the
Secured Party in sufficient detail upon becoming aware of any attachment, garnishment, execution or other legal process levied against any Collateral and of any other information received by the Debtor that would have a material adverse effect on
the value of the Collateral, the Security Interest or the rights and remedies of the Secured Party hereunder. 
 (t) All
information heretofore, herein or hereafter supplied to the Secured Party by or on behalf of the Debtor with respect to the Collateral is accurate and complete in all material respects as of the date furnished. 
  

 9 

 (u) The Debtor shall at all times preserve and keep in full force and effect its valid
existence and good standing and any rights and franchises material to its businesses. 
 (v) The Debtor will not change its
name, type of organization, jurisdiction of organization, organizational identification number (if it has one), legal or corporate structure, or identity, or add any new fictitious name unless it provides at least 30 days’ prior written notice
to the Secured Party of such change and, at the time of such written notification, the Debtor provides any financing statements or fixture filings necessary to perfect and continue the perfection of the Security Interests granted and evidenced by
this Agreement. 
 (w) Except in the ordinary course of business and except for Permitted Liens (as defined in the Indenture),
the Debtor may not consign any of its Inventory or sell any of its Inventory on bill and hold, sale or return, sale on approval, or other conditional terms of sale without the consent of the Secured Party, which shall not be unreasonably delayed or
withheld. 
 (x) The Debtor may not relocate its chief executive office to a new location without providing 30 days’
prior written notification thereof to the Secured Party and so long as, at the time of such written notification, the Debtor provides any financing statements or fixture filings necessary to perfect and continue the perfection of the Security
Interests granted and evidenced by this Agreement. 
 (y) The Debtor was organized and remains organized solely under the laws
of the state or other jurisdiction set forth next to the Debtor’s name in Schedule D attached hereto, which Schedule D sets forth the Debtor’s organizational identification number or, if the Debtor does not have one, states
that one does not exist. 
 (z) (i) The actual name of the Debtor is the name set forth in Schedule D attached
hereto; (ii) the Debtor has no trade names except as set forth on Schedule E attached hereto; (iii) the Debtor has not used any name other than that stated in the preamble hereto or as set forth on Schedule E for the
preceding five years; and (iv) no entity has merged into the Debtor or been acquired by the Debtor within the past five years except as set forth on Schedule E. 
 (aa) At any time and from time to time that any Collateral consists of instruments, certificated securities or other items that require or
permit possession by the secured party to perfect the security interest created hereby, the applicable Debtor shall deliver such Collateral to the Secured Party. 
 (bb) The Debtor, in its capacity as issuer, hereby agrees to comply with any and all reasonable orders and instructions of Secured Party
regarding the Pledged Interests consistent with the terms of this Agreement without the further consent of the Debtor as contemplated by Section 8-106 (or any successor section) of the UCC. Further, the Debtor agrees that it shall not enter
into a similar agreement (or one that would confer “control” within the meaning of Article 8 of the UCC) with any other person or entity. 
  

 10 

 (cc) The Debtor shall cause all tangible chattel paper constituting Collateral to be
delivered to the Secured Party, or, if such delivery is not commercially reasonable, then to cause such tangible chattel paper to contain a legend noting that it is subject to the security interest created by this Agreement. To the extent that any
Collateral consists of electronic chattel paper, the applicable Debtor shall cause the underlying chattel paper to be “marked” within the meaning of Section 9-105 of the UCC (or successor section thereto). 
 (dd) If there is any investment property or deposit account included as Collateral that can be perfected by “control” through an
account control agreement, the applicable Debtor shall cause such an account control agreement, in form and substance in each case reasonably satisfactory to the Secured Party, to be entered into and delivered to the Secured Party. 
 (ee) To the extent that any Collateral consists of letter-of-credit rights, the applicable Debtor shall endeavor to cause the issuer of
each underlying letter of credit to consent to an assignment of the proceeds thereof to the Secured Party. 
 (ff) To the
extent that any Collateral is in the possession of any third party, the applicable Debtor shall join with the Secured Party in notifying such third party of the Secured Party’s security interest in such Collateral and shall endeavor to obtain
an acknowledgement and agreement from such third party with respect to the Collateral, in form and substance reasonably satisfactory to the Secured Party. 
 (gg) If the Debtor shall at any time hold or acquire a commercial tort claim, the Debtor shall promptly notify the Secured Party in a writing signed by the Debtor of the particulars thereof and grant to the Secured
Party in such writing a security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to the Secured Party. 
 (hh) The Debtor shall promptly provide written notice to the Secured Party of any and all accounts which arise out of contracts with any
governmental authority and, to the extent necessary to perfect or continue the perfected status of the Security Interests in such accounts and proceeds thereof, shall execute and deliver to the Secured Party an assignment of claims for such accounts
and cooperate with the Secured Party in taking any other steps required under the Federal Assignment of Claims Act or any similar foreign, federal, state or local statute or rule to perfect or continue the perfected status of the Security Interests
in such accounts and proceeds thereof. 
 (ii) The Debtor shall promptly deliver copies of all notices and other
correspondence delivered to the Secured Party hereunder to the holders of the Notes. 
 (jj) Each Debtor shall vote the
Pledged Securities to comply with the covenants and agreements set forth herein and in the Notes. 
  

 11 

 (kk) The Debtor shall cause each issuer of Pledged Securities to register the pledge of
the applicable Pledged Securities in the name of the Secured Party on the books of such issuer. Further, except with respect to certificated securities delivered to the Secured Party, the Debtor shall endeavor to deliver to the Secured Party an
acknowledgement of pledge (which, where appropriate, shall comply with the requirements of the relevant UCC with respect to perfection by registration) signed by the issuer of the applicable Pledged Securities, which acknowledgement shall confirm
that: (a) it has registered the pledge on its books and records; and (b) at any time directed by the Secured Party during the continuation of an Event of Default, such issuer will transfer the record ownership of such Pledged Securities
into the name of any designee of the Secured Party, will take such steps as may be necessary to effect the transfer, and will comply with all other reasonable instructions of the Secured Party regarding such Pledged Securities without the further
consent of the applicable Debtor. 
 (ll) In the event that, upon an occurrence of an Event of Default, the Secured Party
shall sell all or any of the Pledged Securities to another party or parties (herein called the “Transferee”) or shall purchase or retain all or any of the Pledged Securities, the Debtor shall, to the extent applicable:
(i) deliver to the Secured Party or the Transferee, as the case may be, the articles of incorporation, bylaws, minute books, stock certificate books, corporate seals, deeds, leases, indentures, agreements, evidences of indebtedness, books of
account, financial records and all other Organizational Documents and records of the Debtor and its direct and indirect subsidiaries; (ii) use its commercially reasonable efforts to obtain resignations of the persons then serving as officers
and directors of the Debtor and its direct and indirect subsidiaries, if so requested; and (iii) use its commercially reasonable efforts to obtain any approvals that are required by any governmental or regulatory body in order to permit the
sale of the Pledged Securities to the Transferee or the purchase or retention of the Pledged Securities by the Secured Party and allow the Transferee or Secured Party to continue the business of the Debtor and its direct and indirect subsidiaries.

 (mm) Without limiting the generality of the other obligations of the Debtor hereunder, the Debtor shall promptly
(i) cause to be registered at the United States Copyright Office all of its material copyrights, (ii) cause the security interest contemplated hereby with respect to all Intellectual Property registered at the United States Copyright
Office or United States Patent and Trademark Office to be duly recorded at the applicable office, and (iii) give the Secured Party notice whenever it acquires (whether absolutely or by license) or creates any additional material Intellectual
Property. 
 (nn) The Debtor will from time to time, at the sole expense of the Debtor, promptly execute and deliver all such
further instruments and documents, and take all such further action as may be necessary or desirable, or as the Secured Party may reasonably request, in order to perfect and protect any security interest granted or purported to be granted hereby or
to enable the Secured Party to exercise and enforce its rights and remedies hereunder and with respect to any Collateral or to otherwise carry out the purposes of this Agreement. 
  

 12 

 (oo) Schedule F attached hereto lists all of the patents, patent applications,
trademarks, trademark applications, registered copyrights, and domain names owned by the Debtor as of the date hereof. Schedule F lists all material licenses in favor of the Debtor for the use of any patents, trademarks, copyrights and domain
names as of the date hereof. All material patents and trademarks of the Debtor have been duly recorded at the United States Patent and Trademark Office and all material copyrights of the Debtor have been duly recorded at the United States Copyright
Office. 
 (pp) Except as set forth on Schedule G attached hereto, none of the account debtors or other persons or
entities obligated on any of the Collateral is a governmental authority covered by the Federal Assignment of Claims Act or any similar foreign, federal, state or local statute or rule in respect of such Collateral. 
 5. Effect of Pledge on Certain Rights. If any of the Collateral subject to this Agreement consists of nonvoting equity or ownership
interests (regardless of class, designation, preference or rights) that may be converted into voting equity or ownership interests upon the occurrence of certain events (including, without limitation, upon the transfer of all or any of the other
stock or assets of the issuer), it is agreed that the pledge of such equity or ownership interests pursuant to this Agreement or the enforcement of any of the Secured Party’s rights hereunder shall not be deemed to be the type of event which
would trigger such conversion rights notwithstanding any provisions in the Organizational Documents or agreements to which the Debtor is subject or to which the Debtor is party. 
 6. Defaults. The following events shall be “Events of Default”: 
 (a) The occurrence of an Event of Default (as defined in the Indenture); 
 (b) Any representation or warranty of the Debtor in this Agreement shall prove to have been incorrect in any material respect when made;
or 
 (c) The failure by the Debtor to observe or perform any of its material obligations hereunder for three (3) days
after delivery to the Debtor of notice of such failure by or on behalf of the Secured Party unless such default is capable of cure but cannot be cured within such time frame and the Debtor is using commercially reasonable efforts to cure same in a
timely fashion. 
 (d) If any provision of this Agreement shall at any time for any reason be declared to be null and void, or
the validity or enforceability thereof shall be contested by any Debtor, or a proceeding shall be commenced by the Debtor, or by any governmental authority having jurisdiction over the Debtor, seeking to establish the invalidity or unenforceability
thereof, or the Debtor shall deny that it has any liability or obligation purported to be created under this Agreement. 
 7. Duty To Hold
In Trust. 
  

 13 

 (a) Upon the occurrence of any Event of Default and at any time thereafter, the Debtor
shall, upon receipt of any revenue, income, dividend, interest or other sums subject to the Security Interests, or of any check, draft, note, trade acceptance or other instrument evidencing an obligation to pay any such sum, hold the same in trust
for the Secured Party and shall forthwith endorse and transfer any such sums or instruments, or both, to the Secured Party. 
 (b) If the Debtor shall become entitled to receive or shall receive any securities or other property (including, without limitation, shares of Pledged Securities or instruments representing Pledged Securities acquired after the date hereof,
or any options, warrants, rights or other similar property or certificates representing a dividend, or any distribution in connection with any recapitalization, reclassification or increase or reduction of capital, or issued in connection with any
reorganization of the Debtor or any of its direct or indirect subsidiaries) in respect of the Pledged Securities (whether as an addition to, in substitution of, or in exchange for, such Pledged Securities or otherwise), the Debtor agrees to
(i) accept the same as the agent of the Secured Party; (ii) hold the same in trust on behalf of and for the benefit of the Secured Party; and (iii) deliver any and all certificates or instruments evidencing the same to the Secured
Party on or before the close of business on the fifth business day following the receipt thereof by the Debtor, in the exact form received together with the Necessary Endorsements, to be held by the Secured Party subject to the terms of this
Agreement as Collateral. 
 8. Rights and Remedies Upon Default. 
 (a) Upon the occurrence of any Event of Default and at any time thereafter, the Secured Party shall have the right to exercise all of the
remedies conferred hereunder and under the Indenture, and the Secured Party shall have all the rights and remedies of a secured party under the UCC. Without limitation, the Secured Party shall have the following rights and powers: 
 (i) The Secured Party shall have the right to take possession of the Collateral and, for that purpose, enter by reasonable means, with the
aid and assistance of any person, any premises where the Collateral, or any part thereof, is or may be placed and remove the same, and the Debtor shall assemble the Collateral and make it available to the Secured Party at places which the Secured
Party shall reasonably select, whether at the Debtor’s premises or elsewhere, and make reasonably available to the Secured Party, without rent, all of the Debtor’s premises and facilities for the purpose of the Secured Party taking
possession of, removing or putting the Collateral in saleable or disposable form. 
 (ii) Upon written notice to the Debtor by
the Secured Party, all rights of the Debtor to exercise the voting and other consensual rights which it would otherwise be entitled to exercise and all rights of the Debtor to receive the dividends and interest which it would otherwise be authorized
to receive and retain, shall cease. Upon such notice, the Secured Party shall have the right to receive any interest, cash dividends or other payments on the Collateral and, at the 

  

 14 

 
option of the Secured Party, to exercise in the Secured Party’s discretion all voting rights pertaining thereto. Without limiting the generality of the
foregoing, the Secured Party shall have the right (but not the obligation) to exercise all rights with respect to the Collateral as if it were the sole and absolute owner thereof, including, without limitation, to vote and/or to exchange, at its
sole discretion, any or all of the Collateral in connection with a merger, reorganization, consolidation, recapitalization or other readjustment concerning or involving the Collateral or the Debtor or any of its direct or indirect subsidiaries.

 (iii) The Secured Party shall have the right to operate the business of the Debtor using the Collateral and shall have the
right to assign, sell, lease or otherwise dispose of and deliver all or any part of the Collateral, at public or private sale or otherwise, either with or without special conditions or stipulations, for cash or on credit or for future delivery, in
such parcel or parcels and at such time or times and at such place or places, and upon commercially reasonable terms and conditions Upon each such sale, lease, assignment or other transfer of Collateral, the Secured Party, may, unless prohibited by
applicable law which cannot be waived, purchase all or any part of the Collateral being sold, free from and discharged of all trusts, claims, right of redemption and equities of the Debtor, which are hereby waived and released. 
 (iv) The Secured Party shall have the right (but not the obligation) to notify any account debtors and any obligors under instruments or
accounts to make payments directly to the Secured Party, and to enforce the Debtor’s rights against such account debtors and obligors. 
 (v) The Secured Party, may (but is not obligated to) direct any financial intermediary or any other person or entity holding any investment property to transfer the same to the Secured Party, or its designee.

 (vi) The Secured Party may (but is not obligated to) transfer any or all Intellectual Property registered in the name of
the Debtor at the United States Patent and Trademark Office and/or Copyright Office into the name of the Secured Party or any designee or any purchaser of any Collateral. 
 (b) The Secured Party shall comply with any applicable law in connection with a disposition of Collateral and such compliance will not be
considered adversely to affect the commercial reasonableness of any sale of the Collateral. The Secured Party may sell the Collateral without giving any warranties and may specifically disclaim such warranties. If the Secured Party sells any of the
Collateral on credit, the Debtor will only be credited with payments actually made by the purchaser. In addition, the Debtor waives any and all rights that it may have to a judicial hearing in advance of the enforcement of any of the Secured
Party’s rights and remedies hereunder, including, without limitation, its right following an Event of Default to take immediate possession of the Collateral and to exercise its rights and remedies with respect thereto. 
  

 15 

 (c) For the purpose of enabling the Secured Party to further exercise rights and remedies
under this Section 8 or elsewhere provided by agreement or applicable law, the Debtor hereby grants to the Secured Party, an irrevocable, nonexclusive license (exercisable without payment of royalty or other compensation to the Debtor) to use,
license or sublicense following an Event of Default, any Intellectual Property now owned or hereafter acquired by the Debtor, and wherever the same may be located, and including in such license access to all media in which any of the licensed items
may be recorded or stored and to all computer software and programs used for the compilation or printout thereof. 
 9. Applications of
Proceeds. The proceeds of any such sale, lease or other disposition of the Collateral hereunder or from payments made on account of any insurance policy insuring any portion of the Collateral shall be applied first, to the expenses of taking,
holding, storing, processing and preparing for sale, selling, and the like (including, without limitation, any taxes, fees and other costs reasonably incurred in connection therewith) of the Collateral, to the reasonable attorneys’ fees and
expenses incurred by the Secured Party in enforcing the Secured Party’s rights hereunder and in connection with collecting, storing and disposing of the Collateral, and then to satisfaction of the Obligations, and to the payment of any other
amounts required by applicable law, after which the Secured Party shall pay to the applicable Debtor any surplus proceeds. If, upon the sale, license or other disposition of the Collateral, the proceeds thereof are insufficient to pay all amounts to
which the Secured Party is legally entitled, the Debtor will be liable for the deficiency, together with interest thereon, at the default rate set forth in the Notes (the “Default Rate”), and the reasonable fees of any attorneys
employed by the Secured Party to collect such deficiency. To the extent permitted by applicable law, the Debtor waives all claims, damages and demands against the Secured Party arising out of the repossession, removal, retention or sale of the
Collateral, unless due solely to the gross negligence or willful misconduct of the Secured Party as determined by a final judgment (not subject to further appeal) of a court of competent jurisdiction. 
 10. Securities Law Provision. The Debtor recognizes that the Secured Party may be limited in its ability to effect a sale to the public of all or
part of the Pledged Securities by reason of certain prohibitions in the Securities Act of 1933, as amended, or other federal or state securities laws (collectively, the “Securities Laws”), and may be compelled to resort to one or
more sales to a restricted group of purchasers who may be required to agree to acquire the Pledged Securities for their own account, for investment and not with a view to the distribution or resale thereof. The Debtor agrees that sales so made may
be at prices and on terms less favorable than if the Pledged Securities were sold to the public, and that the Secured Party has no obligation to delay the sale of any Pledged Securities for the period of time necessary to register the Pledged
Securities for sale to the public under the Securities Laws. The Debtor shall cooperate with the Secured Party in its reasonable attempt to satisfy any requirements under the Securities Laws (including, without limitation, registration thereunder if
reasonably requested by the Secured Party) applicable to the sale of the Pledged Securities by the Secured Party. 
 11. Costs and
Expenses. The Debtor agrees to pay all reasonable out-of-pocket fees, costs and expenses incurred in connection with any filing required hereunder, including without limitation, any financing statements pursuant to the UCC, continuation
statements, partial releases and/or termination statements related thereto or any expenses of any searches reasonably 

  

 16 

 
required by the Secured Party. The Debtor shall also pay all other claims and charges which would be reasonably likely to prejudice, imperil or otherwise
affect the Collateral or the Security Interests therein. The Debtor will also, upon demand, pay to the Secured Party the amount of any and all reasonable expenses, including the reasonable fees and expenses of its counsel and of any experts and
agents, which the Secured Party, may incur in connection with (i) the enforcement of this Agreement, (ii) the custody or preservation of, or the sale of, collection from, or other realization upon, any of the Collateral, or (iii) the
exercise or enforcement of any of the rights of the Secured Party under the Indenture. Until so paid, any fees payable shall bear interest at the Default Rate. 
 12. Responsibility for Collateral. The Debtor assumes all liabilities and responsibilities in connection with all Collateral, and the Obligations shall in no way be affected or diminished by reason of the loss,
destruction, damage or theft of any of the Collateral or its unavailability for any reason. Without limiting the generality of the foregoing, (a) in no event shall the Secured Party (i) have any duty (either before or after an Event of
Default) to collect any amounts in respect of the Collateral or to preserve any rights relating to the Collateral, or (ii) have any obligation to clean-up or otherwise prepare the Collateral for sale, and (b) the Debtor shall remain
obligated and liable under each contract or agreement included in the Collateral to be observed or performed by the Debtor thereunder. The Secured Party shall not have any obligation or liability under any such contract or agreement by reason of or
arising out of this Agreement or the receipt by the Secured Party of any payment relating to any of the Collateral, nor shall the Secured Party be obligated in any manner to perform any of the obligations of the Debtor under or pursuant to any such
contract or agreement, to make inquiry as to the nature or sufficiency of any payment received by the Secured Party in respect of the Collateral or as to the sufficiency of any performance by any party under any such contract or agreement, to
present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been assigned to the Secured Party or to which the Secured Party may be entitled at any time or times. 
 13. Security Interests Absolute. All rights and all obligations of the parties hereunder, shall be absolute and unconditional, irrespective of:
(a) any lack of validity or enforceability of this Agreement, the Indenture, the Notes or any agreement entered into in connection with the foregoing, or any portion hereof or thereof; (b) any change in the time, manner or place of payment
or performance of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to any departure from the Indenture or the Notes or any other agreement entered into in connection with the foregoing;
(c) any exchange, release or nonperfection of any of the Collateral, or any release or amendment or waiver of or consent to departure from any other collateral for, or any guarantee, or any other security, for all or any of the Obligations;
(d) any action by the Secured Party to obtain, adjust, settle and cancel in its reasonable discretion any insurance claims or matters made or arising in connection with the Collateral; or (e) any other circumstance which might otherwise
constitute any legal or equitable defense available to the Debtor, or a discharge of all or any part of the Security Interests granted hereby. Until the Obligations shall have been paid and performed in full, the rights of the Secured Party shall
continue even if the Obligations are barred for any reason, including, without limitation, the running of the statute of limitations or bankruptcy. The Debtor expressly waives presentment, protest, notice of protest, demand, notice of nonpayment

  

 17 

 
and demand for performance. In the event that at any time any transfer of any Collateral or any payment received by the Secured Party hereunder shall be
deemed by final order of a court of competent jurisdiction to have been a voidable preference or fraudulent conveyance under the bankruptcy or insolvency laws of the United States, or shall be deemed to be otherwise due to any party other than the
Secured Party, then, in any such event and to the extent thereof, the Debtor’s obligations hereunder shall survive cancellation of this Agreement, and shall not be discharged or satisfied by any prior payment thereof and/or cancellation of this
Agreement, but shall remain a valid and binding obligation enforceable in accordance with the terms and provisions hereof. The Debtor waives all right to require the Secured Party to proceed against any other person or entity or to apply any
Collateral which the Secured Party may hold at any time, or to marshal assets, or to pursue any other remedy. The Debtor hereby waives any defense arising by reason of the application of the statute of limitations of the obligations secured hereby.

 14. Term of Agreement. This Agreement and the Security Interests shall terminate on the date on which all payments under the Notes
have been indefeasibly paid in full and all other Obligations have been paid or discharged (other than contingent indemnification obligations). 
 15. Power of Attorney; Further Assurances. 
 (a) The Debtor authorizes the Secured Party, and does hereby
make, constitute and appoint the Secured Party and its officers, agents, successors or assigns with full power of substitution, as the Debtor’s true and lawful attorney-in-fact, with power, in the name of the Secured Party or the Debtor, to,
after the occurrence and during the continuance of an Event of Default, (i) endorse any note, checks, drafts, money orders or other instruments of payment (including payments payable under or in respect of any policy of insurance) in respect of
the Collateral that may come into possession of the Secured Party; (ii) to sign and endorse any financing statement pursuant to the UCC or any invoice, freight or express bill, bill of lading, storage or warehouse receipts, drafts against
debtors, assignments, verifications and notices in connection with accounts, and other documents relating to the Collateral; (iii) to pay or discharge taxes, liens, security interests or other encumbrances at any time levied or placed on or
threatened against the Collateral; (iv) to demand, collect, receipt for, compromise, settle and sue for monies due in respect of the Collateral; (v) to transfer any Intellectual Property or provide licenses respecting any Intellectual
Property; and (vi) generally, at the option of the Secured Party, and at the expense of the Debtor, at any time, or from time to time, to execute and deliver any and all documents and instruments and to do all acts and things which the Secured
Party deems necessary to protect, preserve and realize upon the Collateral and the Security Interests granted therein in order to effect the intent of this Agreement and the Indenture and the Notes all as fully and effectually as the Debtor might or
could do; and the Debtor hereby ratifies all that said attorney shall lawfully do or cause to be done by virtue hereof. This power of attorney is coupled with an interest and shall be irrevocable for the term of this Agreement and thereafter as long
as any of the Obligations shall be outstanding. The designation set forth herein shall be deemed to amend and supersede any inconsistent provision in the Organizational Documents or 

  

 18 

 
other documents or agreements to which the Debtor is subject or to which the Debtor is a party. Without limiting the generality of the foregoing, after the
occurrence and during the continuance of an Event of Default, the Secured Party is specifically authorized to execute and file any applications for or instruments of transfer and assignment of any patents, trademarks, copyrights or other
Intellectual Property with the United States Patent and Trademark Office and the United States Copyright Office. 
 (b) On a
continuing basis, the Debtor will make, execute, acknowledge, deliver, file and record, as the case may be, with the proper filing and recording agencies in any jurisdiction, including, without limitation, the jurisdictions indicated on Schedule
C attached hereto, all such instruments, and take all such action as may reasonably be deemed necessary or advisable, or as reasonably requested by the Secured Party, to perfect the Security Interests granted hereunder and otherwise to carry out
the intent and purposes of this Agreement, or for assuring and confirming to the Secured Party the grant or perfection of a perfected security interest in all the Domestic Collateral under the UCC or other relevant laws for Collateral that is not
Domestic Collateral. 
 (c) The Debtor hereby irrevocably appoints the Secured Party as the Debtor’s attorney-in-fact,
with full authority in the place and stead of the Debtor and in the name of the Debtor, from time to time in the Secured Party’s discretion, to take any action and to execute any instrument which the Secured Party may deem necessary or
advisable to accomplish the purposes of this Agreement, including the filing, in its sole discretion, of one or more financing or continuation statements and amendments thereto, relative to any of the Collateral without the signature of the Debtor
where permitted by law, which financing statements may (but need not) describe the Collateral as “all assets” or “all personal property” or words of like import, and ratifies all such actions taken by the Secured Party. This
power of attorney is coupled with an interest and shall be irrevocable for the term of this Agreement and thereafter as long as any of the Obligations shall be outstanding. 
 16. Notices. Any demand upon or notice to the Debtor hereunder shall be effective when delivered by hand or when properly deposited in the mails
postage prepaid, or sent by telex, answerback received, or electronic facsimile transmission, receipt acknowledged, or delivered to a telegraph company or overnight courier, in each case addressed to the Debtor at the address shown below or such
other address as the Debtor may advise the Secured Party in writing. Any notice by the Debtor to the Secured Party shall be given as aforesaid, addressed to the Secured Party at the address shown below or such other address as the Secured Party may
advise the Debtor in writing. 
  

			
	 Secured Party:
	  	U.S. Bank National Association
		  	60 Livingston Avenue
		  	EP-MN-WS3C
		  	St. Paul, MN 55107-2292
		  	Attn: Corporate Trust Department
		  	Fax: (651) 495-8097

  

 19 

			
	 Debtor:
	  	Neurobiological Technologies, Inc.
		  	2000 Powell Street, Suite 800
		  	Emeryville, California 94608
		  	Attn: Chief Financial Officer
		  	Fax: (510) 595-6006
		
	 With a copy to:
	  	Goodwin Procter LLP
		  	4365 Executive Drive
		  	San Diego, CA 92121
		  	Attn: Stephen C. Ferruolo
		  	Fax: (858) 457-1255

 17. Other Security. To the extent that the Obligations are now or hereafter secured by
property other than the Collateral or by the guarantee, endorsement or property of any other person, firm, corporation or other entity, then the Secured Party shall have the right, in its sole discretion, to pursue, relinquish, subordinate, modify
or take any other action with respect thereto, without in any way modifying or affecting any of the Secured Party’s rights and remedies hereunder. 
 18. Miscellaneous. 
 (a) No course of dealing between the Debtor and the Secured
Party, nor any failure to exercise, nor any delay in exercising, on the part of the Secured Party, any right, power or privilege hereunder or under the Indenture shall operate as a waiver thereof; nor shall any single or partial exercise of any
right, power or privilege hereunder or thereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege. 
 (b) All of the rights and remedies of the Secured Party with respect to the Collateral, whether established hereby or by the Indenture or by any other agreements, instruments or documents or by law shall be cumulative
and may be exercised singly or concurrently. 
 (c) This Agreement, together with the exhibits and schedules hereto, the
Indenture, the Notes and the related agreements contemplated hereby and thereby contain the entire understanding of the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with
respect to such matters, which the parties acknowledge have been merged into this Agreement and the exhibits and schedules hereto. No provision of this Agreement may be waived, modified, supplemented or amended except in a written instrument signed,
in the case of an amendment, by the Debtor and the Secured Party or, in the case of a waiver, by the party against whom enforcement of any such waived provision is sought. 
 (d) If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
void or unenforceable, the 

  

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remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected,
impaired or invalidated, and the parties hereto shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or
restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid,
illegal, void or unenforceable. 
 (e) No waiver of any default with respect to any provision, condition or requirement of
this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision, condition or requirement hereof, nor shall any delay or omission of any party to exercise any right
hereunder in any manner impair the exercise of any such right. 
 (f) This Agreement shall be binding upon and inure to the
benefit of the parties and their successors and permitted assigns. The Company may not assign this Agreement or any rights or obligations hereunder without the prior written consent of the Secured Party, which may not be unreasonably withheld or
delayed. The Secured Party may assign any or all of its rights under this Agreement to any Person serving as Trustee under the Indenture. 
 (g) Each party shall take such further action and execute and deliver such further documents as may be necessary or appropriate in order to carry out the provisions and purposes of this Agreement. 
 (h) All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and
construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. The Debtor agrees that all proceedings concerning the interpretations, enforcement and defense of the
transactions contemplated by this Agreement and the Indenture (whether brought against a party hereto or its respective affiliates, directors, officers, shareholders, partners, members, employees or agents) shall be commenced exclusively in the
state and federal courts sitting in the City of New York, Borough of Manhattan. The Debtor hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan for the
adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any proceeding, any claim that it is not personally subject
to the jurisdiction of any such court or that such proceeding is improper. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such proceeding by mailing a copy thereof via registered
or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice
thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner 

  

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permitted by law. Each party hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any
legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. If any party shall commence a proceeding to enforce any provisions of this Agreement, then the prevailing party in such proceeding shall be
reimbursed by the other party for its reasonable attorney’s fees and other reasonable costs and expenses incurred with the investigation, preparation and prosecution of such proceeding. 
 (i) This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all
of which taken together shall constitute one and the same Agreement. In the event that any signature is delivered by facsimile transmission, such signature shall create a valid binding obligation of the party executing (or on whose behalf such
signature is executed) the same with the same force and effect as if such facsimile signature were the original thereof. 
 (j) [Intentionally omitted]. 
 (k) The Debtor shall indemnify, reimburse and hold harmless the Secured Party and its
partners, members, shareholders, officers, directors, employees and agents (and any other persons with other titles that have similar functions) (collectively, “Indemnitees”) from and against any and all losses, claims, liabilities,
damages, penalties, suits, costs and expenses, of any kind or nature, (including fees relating to the cost of investigating and defending any of the foregoing) imposed on, incurred by or asserted against such Indemnitee in any way related to or
arising from or alleged to arise from this Agreement or the Collateral, except any such losses, claims, liabilities, damages, penalties, suits, costs and expenses which result from the gross negligence or willful misconduct of the Indemnitee as
determined by a final, nonappealable decision of a court of competent jurisdiction. This indemnification provision is in addition to, and not in limitation of, any other indemnification provision in the Indenture or any other agreement, instrument
or other document executed or delivered in connection herewith or therewith. 
 (l) Nothing in this Agreement shall be
construed to subject the Secured Party to liability as a partner in the Debtor or any of its direct or indirect subsidiaries that is a partnership or as a member in any of its direct or indirect subsidiaries that is a limited liability company, nor
shall the Secured Party be deemed to have assumed any obligations under any partnership agreement or limited liability company agreement, as applicable, of the Debtor or any of its direct or indirect subsidiaries or otherwise, unless and until the
Secured Party exercises its right to be substituted for the Debtor as a partner or member, as applicable, pursuant hereto. 
 (m) To the extent that the grant of the security interest in the Collateral and the enforcement of the terms hereof require the consent, approval or action of any partner or member, as applicable, of the Debtor or any direct or indirect
subsidiary of the Debtor or compliance with any provisions of any of the Organizational Documents, the Debtor 

  

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hereby grants such consent and approval and waives any such noncompliance with the terms of said documents. 
 [SIGNATURE PAGES FOLLOW] 
  

 23 

 IN WITNESS WHEREOF, the parties hereto have caused this Security Agreement to be duly executed on the day
and year first above written. 
 DEBTOR: 
 NEUROBIOLOGICAL TECHNOLOGIES, INC. 
 By: /s/ Craig W.
Carlson                                       
                          
 Name: Craig W. Carlson 
 Title: Chief Financial Officer 
 SECURED PARTY: 
 U.S. BANK NATIONAL ASSOCIATION, as trustee 

 By: /s/ Richard Prokosch
                                        
                         
 Name: Richard Prokosch 
 Title: Vice President 
  

 24 

 DISCLOSURE SCHEDULES 
 SECURITY AGREEMENT 
 SCHEDULE A 
  

 25 

 SCHEDULE B 
 Other Owners or Collateral or Lienholders 
  

 26 

 SCHEDULE C 
  

 27 

 SCHEDULE D 
 Legal Names and Organizational Identification Numbers 
  

 28 

 SCHEDULE E 
 Names; Mergers and Acquisitions 
  

 29 

 SCHEDULE F 
 Intellectual Property 
  

 30 

 SCHEDULE G 
 Account Debtors 
  

 31 

 SCHEDULE H 
 Pledged Securities 
  

 32

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