Document:

Unassociated Document

    

     

     

    NEOSTEM,
INC.

     

    INDEMNIFICATION
AGREEMENT

    This
Indemnification Agreement ("Agreement") is made as of October __, 2009 by and
between NeoStem, Inc., a Delaware corporation (the "Company"), and
______________ ("Indemnitee").

     

    RECITALS

     

    WHEREAS,
highly competent persons have become more reluctant to serve publicly-held
corporations as directors or officers or in other capacities unless they are
provided with adequate protection through insurance or adequate indemnification
against inordinate risks of claims and actions against them arising out of their
service to and activities on behalf of the corporation;

     

    WHEREAS,
the Board of Directors of the Company (the "Board") has, in order to attract and
retain qualified individuals, obtained liability insurance to protect persons
serving the Company and its subsidiaries from certain liabilities. The
furnishing of such insurance has been a customary and widespread practice among
United States-based corporations and other business enterprises.  At
the same time, directors, officers, and other persons in service to corporations
or business enterprises are being increasingly subjected to expensive and
time-consuming litigation relating to, among other things, matters that
traditionally would have been brought only against the Company or business
enterprise itself.  The Certificate of Incorporation of the Company
permits indemnification of the officers, directors and employees of the
Company.  Indemnitee may also be entitled to indemnification pursuant
to the General Corporation Law of the State of Delaware (the
"DGCL").  The DGCL expressly provides that the indemnification
provisions set forth therein are not exclusive, and thereby contemplate that
contracts may be entered into between the Company and members of the board of
directors, officers and other persons with respect to
indemnification;

     

    WHEREAS,
the uncertainties relating to such insurance and to indemnification have
increased the difficulty of attracting and retaining such persons, particularly
those at greater risk in light of their position with the Company;

     

    WHEREAS,
the Board has determined that the increased difficulty in attracting and
retaining such persons is detrimental to the best interests of the Company's
stockholders and that the Company should act to assure such of those persons who
in light of their position with the Company are at an increased risk, that there
will be increased certainty of such protection in the future;

     

    WHEREAS,
it is reasonable, prudent and necessary for the Company contractually to
obligate itself to indemnify, and to advance expenses on behalf of, such persons
at an increased risk to the fullest extent permitted by applicable law so that
they will serve or continue to serve the Company free from undue concern that
they will not be so indemnified;

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    WHEREAS,
this Agreement is a supplement to and in furtherance of the Certificate of
Incorporation of the Company and any resolutions adopted pursuant thereto, and
any agreements the Indemnitee may otherwise have with the Company, and shall not
be deemed a substitute therefor, nor to diminish or abrogate any rights of
Indemnitee thereunder; and

     

    WHEREAS,
Indemnitee does not regard the protection available under the Company's
Certificate of Incorporation and insurance as adequate in the present
circumstances, and may not be willing to serve as an officer, director or
employee without adequate protection, and the Company desires Indemnitee to
serve in such capacity.  Indemnitee is willing to serve
and  continue to serve for or on behalf of the Company on the
condition that he or she be so indemnified;

     

    NOW,
THEREFORE, in consideration of the premises and the covenants contained herein,
the Company and Indemnitee do hereby covenant and agree as follows:

     

     

    1. Indemnification.

     

    (a) Third Party
Proceedings. The Company shall
indemnify Indemnitee if Indemnitee is or was a party or is threatened to be made
a party to any threatened, pending or completed action, suit, proceeding or any
alternative dispute resolution mechanism, whether civil, criminal,
administrative or investigative (other than an action by or in the right of the
Company) by reason of the fact that Indemnitee is or was a director, officer,
employee or agent of the Company, or any subsidiary of the Company, or by reason
of the fact that Indemnitee is or was serving at the request of the Company as a
director, officer, employee or agent of another corporation, partnership, joint
venture, trust or other enterprise, against expenses (including attorneys'
fees), judgments, fines and amounts paid in settlement (if such settlement is
approved in advance by the Company, which approval shall not be unreasonably
withheld) actually and reasonably incurred by Indemnitee in connection with such
action, suit or proceeding if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in or not opposed to the best interests of
the Company, and, with respect to any criminal action or proceeding, had no
reasonable cause to believe Indemnitee's conduct was unlawful. The termination
of any action, suit or proceeding by judgment, order, settle­ment,
conviction, or upon a plea of nolo contendere or its equivalent, shall not, of
itself, create a presumption that Indemnitee did not act in good faith and in a
manner which Indemnitee reasonably believed to be in or not opposed to the best
interests of the Company, and, with respect to any criminal action or
proceeding, had reasonable cause to believe that Indemnitee's conduct was
unlawful.

     

    (b) Proceedings
By or in the Right of the Company. The
Company shall indemnify Indemnitee if Indemnitee was or is a party or is
threatened to be made a party to any threatened, pending or completed action,
suit or proceeding by or in the right of the Company or any subsidiary of the
Company to procure a judgment in its favor by reason of the fact that Indemnitee
is or was a director, officer, employee or agent of the Company, or any
subsidiary of the Company, or by reason of the fact that Indemnitee is or was
serving at the request of the Company as a director, officer, employee or agent
of another corporation, partnership, joint venture, trust or other enterprise,
against expenses (including attorneys' fees) and, to the fullest extent
permitted by law, amounts paid in settlement actually and reasonably incurred by
Indemnitee in connection with the defense or settlement of such action or suit
if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed
to be in or not opposed to the best interests of the Company, except that no
indemnification shall be made in respect of any claim, issue or matter as to
which Indemnitee shall have been adjudged to be liable to the Company unless and
only to the extent that the court in which such action or suit was brought shall
determine upon application that, despite the adjudication of liability but in
view of all the circumstances of the case, Indemnitee is fairly and reasonably
entitled to indemnity for such expenses which such court shall deem
proper.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    (c) Proceedings
Definition.  For purposes of clarity, the term "proceeding" as
used in Subsections (a) and (b) of this Section 1, and throughout this
Agreement, shall include any threatened, pending or completed action, suit,
arbitration, alternate dispute resolution mechanism, investigation, inquiry,
administrative hearing or any other actual, threatened or completed proceeding,
and whether of a civil, criminal, administrative legislative, or investigative
nature, including any appeal therefrom, in which Indemnitee was, is or will be
involved as a party, potential party, non-party witness or otherwise by reason
of the fact that Indemnitee is or was a director, officer or employee of the
Company, by reason of any action taken by him or of any action on his part while
acting as director, officer or employee of the Company, or by reason of the fact
that he is or was serving at the request of the Company as a director, officer,
employee or agent of another corporation, limited liability company,
partnership, joint venture, trust or other enterprise, in each case whether or
not serving in such capacity at the time any liability or expense is incurred
for which indemnification, reimbursement, or advancement of expenses can be
provided under this Agreement.

     

    (d) Mandatory Payment of
Expenses. To the extent that Indemnitee has been successful on the merits
or otherwise in defense of any action, suit or proceeding referred to in
Subsections (a) and (b) of this Section 1, or in defense of any claim, issue or
matter therein, Indemnitee shall be indemnified against expenses (including
attorneys' fees) actually and reasonably incurred by Indemnitee in connection
therewith.

     

    2. Expenses; Indemnification
Procedure.

    (a) Advancement of
Expenses. The
Company shall advance all expenses incurred by Indemnitee in connection with the
investigation, defense, settlement or appeal of any civil or criminal action,
suit or proceeding referenced in Section 1(a) or (b) hereof. Indemnitee hereby
undertakes to repay such amounts advanced only if, and to the extent that, it
shall ultimately be determined that Indemnitee is not entitled to be indemnified
by the Company as authorized hereby. The advances to be made hereunder shall be
paid by the Company to Indemnitee within thirty (30) days following delivery of
a written request therefor by Indemnitee to the Company.  As used in
this Agreement, “expenses” shall include, among other things, all reasonable
attorneys' fees, retainers, court costs, transcript costs, fees of experts,
witness fees, travel expenses, duplicating costs, printing and binding costs,
telephone charges, postage, delivery service fees, and all other disbursements
or expenses of the types customarily incurred in connection with prosecuting,
defending, preparing to prosecute or defend, investigating, being or preparing
to be a witness in, or otherwise participating in, an action, suit or
proceeding.  Expenses also shall include (i) expenses incurred in
connection with any appeal resulting from any action, suit or proceeding,
including without limitation the premium, security for, and other costs relating
to any cost bond, supersedeas bond, or other appeal bond or its equivalent, and
(ii) for purposes of Section 10 only, expenses incurred by Indemnitee in
connection with the interpretation, enforcement or defense of Indemnitee's
rights under this Agreement, by litigation or otherwise.  Expenses,
however, for purposes of this Section 2(a), shall not include amounts paid in
settlement by Indemnitee or the amount of judgments or fines against
Indemnitee.  Advances shall be unsecured and interest
free.  Advances shall be made without regard to Indemnitee's ability
to repay the expenses and without regard to Indemnitee's ultimate entitlement to
indemnification under the other provisions of this
Agreement.  Advances shall include any and all reasonable expenses
incurred pursuing an action to enforce this right of advancement, including
expenses incurred preparing and forwarding statements to the Company to support
the advances claimed.  The Indemnitee shall qualify for advances upon
the execution and delivery to the Company of this Agreement, which shall
constitute an undertaking providing that the Indemnitee undertakes to repay the
advance to the extent that it is ultimately determined that Indemnitee is not
entitled to be indemnified by the Company.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    (b) Notice by
Indemnitee. Indemnitee
shall notify the Company in writing in accordance with the provisions of Section
15 hereof of any matter with respect to which Indemnitee intends to seek
indemnification or advancement of expenses hereunder as soon as reasonably
practicable following the receipt by Indemnitee of written notice
thereof.  The written notification to the Company shall include a
description of the nature of the proceeding and the facts underlying the
proceeding.  To obtain indemnification under this Agreement,
Indemnitee shall submit to the Company a written request, including therein or
therewith such documentation and information as is reasonably available to
Indemnitee and is reasonably necessary to determine whether and to what extent
Indemnitee is entitled to indemnification following the final disposition of
such action, suit or proceeding.  The omission by Indemnitee to notify
the Company hereunder will not relieve the Company from any liability which it
may have to Indemnitee hereunder or otherwise than under this Agreement, and any
delay in so notifying the Company shall not constitute a waiver by Indemnitee of
any rights under this Agreement.  The Secretary of the Company shall,
promptly upon receipt of such a request for indemnification, advise the Board in
writing that Indemnitee has requested indemnification.

     

    (c) Procedure. Any indemnification and
advances provided for in Section 1 and this Section 2 shall be made no later
than thirty (30) days after receipt of the written request of Indemnitee. If a
claim under this Agreement, under any statute, or under any provision of the
Company's Certificate of Incorporation or Bylaws providing for indemnification,
is not paid in full by the Company within thirty (30) days after a written
request for payment thereof has first been received by the Company, Indemnitee
may, but need not, at any time thereafter bring an action against the Company to
recover the unpaid amount of the claim and, subject to Section 14 of this
Agreement, Indemnitee shall also be entitled to be paid for the expenses
(including attorneys' fees) of bringing such action. It shall be a defense to
any such action (other than an action brought to enforce a claim for expenses
incurred in connection with any action, suit or proceeding in advance of its
final disposition) that Indemnitee has not met the standards of conduct which
make it permissible under applicable law for the Company to indemnify Indemnitee
for the amount claimed. However, Indemnitee shall be entitled to receive interim
payments of expenses pursuant to Subsection 2(a) unless and until such defense
may be finally adjudicated by court order or judgment from which no further
right of appeal exists. It is the parties' intention that if the Company
contests lndemnitee's right to indemnification, the question of Indemnitee's
right to indemnification shall be for the court to decide, and neither the
failure of the Company (including its Board of Directors, any committee or
subgroup of the Board of Directors, independent legal counsel, or its
stockholders) to have made a determination that indemnification of Indemnitee is
proper in the circumstances because Indemnitee has met the applicable standard
of conduct required by applicable law, nor an actual determination by the
Company (including it Board of Directors, any committee or subgroup of the Board
of Directors, independent legal counsel, or its stockholders) that Indemnitee
has not met such applicable standard of conduct, shall create a presumption that
Indemnitee has or has not met the applicable standard of conduct.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    (d) Notice to
Insurers. If, at
the time of the receipt of a notice of a claim pursuant to Section 2(b) hereof,
the Company has director and officer liability insurance in effect, the Company
shall give prompt notice of the commencement of such proceeding to the insurers
in accordance with the procedures set forth in the respective policies. The
Company shall thereafter take all necessary or desirable action to cause such
insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of
such proceeding in accordance with the terms of such policies.

     

    (e) Selection of
Counsel. In the event the Company
shall be obligated under Section 2(a) hereof to pay the expenses of any
proceeding against Indemnitee, the Company, if appropriate, shall be entitled to
assume the defense of such proceeding; with
counsel approved by Indemnitee, upon the delivery to Indemnitee of written
notice of its election to do so. After delivery of such notice, approval of such
counsel by Indemnitee and the retention of such counsel by the Company, the
Company will not be liable to Indemnitee under this Agreement for any fees of
counsel subsequently incurred by Indemnitee with respect to the same proceeding,
provided that (i) Indemnitee shall have the right to employ his counsel in any
such proceeding at Indemnitee's expense; and (ii) if (A) the employment of
counsel by Indemnitee has been previously authorized by the Company, (B)
Indemnitee shall have reasonably concluded that there may be a conflict of
interest between the Company and Indemnitee in the conduct of any such defense,
or (C) the Company shall not, in fact,have employed counsel to assume the
defense of such proceeding, then the fees and expenses of Indemnitee's counsel
shall be at the expense of the Company.

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    3. Additional Indemnification
Rights; Nonexclusivity.

     

    (a) Scope. Notwithstanding any
other provision of this Agreement, the Company hereby agrees to indemnify the
Indemnitee to the fullest extent permitted by law, notwithstanding that such
indemnification is not specifically authorized by the other provisions of this
Agreement, the Company's Certificate of Incorporation, the Company's Bylaws or
by statute. In the event of any change, after the date of this Agreement, in any
applicable law, statute, or rule which expands the right of a Delaware
corporation to indemnify a member of its board of directors, an officer or an
employee, such changes shall be, ipso facto, within the
purview of Indemnitee's rights and Company's obligations, under this Agreement.
In the event of any change in any applicable law, statute or rule which narrows
the right of a Delaware corporation to indemnify a member of its board of
directors, an officer or an employee, such changes, to the extent not otherwise
required by such law, statute or rule to be applied to this Agreement shall have
no effect on this Agreement or the parties' rights and obligations
hereunder.

     

    (b) Nonexclusivity. The
indemnification provided by this Agreement shall not be deemed exclusive of any
rights to which Indemnitee may be entitled under the Company's Certificate of
Incorporation, its Bylaws, any agreement, any vote of stockholders or
disinterested Directors, the General Corporation Law of the State of Delaware,
or otherwise, both as to action in Indemnitee's official capacity and as to
action in another capacity while holding such office. The indemnification
provided under this Agreement shall continue as to Indemnitee for any action
taken or not taken while serving in an indemnified capacity even though he may
have ceased to serve in such capacity at the time of any action, suit or other
covered proceeding.

     

    4. Partial
Indemnification. If
Indemnitee is entitled under any provision of this Agreement to indemnification
by the Company for some or a portion of the expenses, judgments, fines or
penalties actually or reasonably incurred by him in the investigation, defense,
appeal or settlement of any civil or criminal action, suit or proceeding, but
not, however, for the total amount thereof, the Company shall nevertheless
indemnify Indemnitee for the portion of such expenses, judgments, fines or
penalties to which Indemnitee is entitled.

     

    5. Mutual
Acknowledgement. Both
the Company and Indemnitee acknowledge that in certain instances, Federal law or
applicable public policy may prohibit the Company from indemnifying its
directors and officers under this Agreement or otherwise. Indemnitee understands
and acknowledges that the Company has undertaken or may be required in the
future to undertake with the Securities and Exchange Commission to submit the
question of indemnification to a court in certain circumstances for a
determination of the Company's right under public policy to indemnify
Indemnitee.

    

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

     

    6. Officer and Director Liability
Insurance. The Company shall
obtain and maintain a policy or policies of insurance with reputable insurance
companies to ensure the Company's performance of its indemnification obligations
under this Agreement. In all policies of director and officer liability
insurance, Indemnitee shall be named as an insured in such a manner as to
provide Indemnitee the same rights and benefits as are accorded to the most
favorably insured of the Company's directors, if Indemnitee is a director; or of
the Company's officers, if Indemnitee is not a director of the Company but is an
officer or an employee. Notwithstanding the foregoing, the Company shall have no
obligation under this Agreement (although it may have such obligation under
other contractual arrangements or otherwise) to obtain or maintain such
insurance if the Company determines in good faith that such insurance is not
reasonably available, if the premium costs for such insurance are
disproportionate to the amount of coverage provided, if the coverage provided by
such insurance is limited by exclusions so as to provide an insufficient
benefit, or if Indemnitee is covered by similar insurance maintained by a
subsidiary or parent of the Company.

     

    7. Severability. Nothing
in this Agreement is intended to require or shall be construed as requiring the
Company to do or fail to do any act in violation of applicable law. The
Company's inability, pursuant to court order, to perform its obligations under
this Agreement shall not constitute a breach of this Agreement. The provisions
of this Agreement shall be severable as provided in this Section 7. If this
Agreement or any portion hereof shall be invalidated on any ground by any court
of competent jurisdiction, then the Company shall nevertheless indemnify
Indemnitee to the full extent permitted by any applicable portion of this
Agreement that shall not have been invalidated, and the balance of this
Agreement not so invalidated shall be enforceable in accordance with its
terms.

     

    8. Exceptions. Any other provision herein
to the contrary notwithstanding, the Company shall not be obligated pursuant to
the terms of this Agreement:

     

    (a) Claims Initiated by
Indemnitee. To
indemnify or advance expenses to Indemnitee with respect to proceedings or
claims initiated or brought voluntarily by Indemnitee and not by way of defense,
except with respect to proceedings brought to establish or enforce a right to
indemnification under this Agreement or any other statute or law or otherwise as
required under Section 145 of the Delaware General Corporation Law, but such
indemnification or advancement of expenses may be provided by the Company in
specific cases if the Board of Directors has approved the initiation or bringing
of such suit; or

     

    (b) Lack of Good
Faith. To
indemnify Indemnitee for any expenses incurred by the Indemnitee with respect to
any proceeding instituted by Indemnitee to enforce or interpret this Agreement,
if a court of competent jurisdiction determines that each of the material
assertions made by the Indemnitee in such proceeding was not made in good faith
or was frivolous; or

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

     

    (c) Insured Claims. To indemnify Indemnitee
for expenses or liabilities of any type whatsoever (including, but not limited
to, judgments, fines, ERISA excise taxes or penalties, and amounts paid in
settlement) which have been paid directly to Indemnitee by an insurance carrier
under a policy of officers' and directors' liability insurance maintained by the
Company.

     

    (d) Claims Under Section
16(b). To
indemnify Indemnitee for expenses and the payment of profits arising from the
purchase and sale by Indemnitee of securities in violation of Section 16(b) of
the Securities Exchange Act of 1934, as amended, or any similar successor
statute.

     

    9. (a)  Reliance as Safe
Harbor.  For purposes of any determination of good faith,
Indemnitee shall be deemed to have acted in good faith if Indemnitee's action is
based on the records or books of account of the Company, including financial
statements, or on information supplied to Indemnitee by the officers of the
Company in the course of their duties, or on the advice of legal counsel for the
Company or on information or records given or reports made to the Company by an
independent certified public accountant or by an appraiser or other expert
selected with the reasonable care by the Company.  The provisions of
this Section 9(a) shall not be deemed to be exclusive or to limit in any way the
other circumstances in which the Indemnitee may be deemed to have met the
applicable standard of conduct set forth in this Agreement.

    (b) Actions of
Others.  The knowledge and/or actions, or failure to act, of
any director, officer, agent or employee of the Company shall not be imputed to
Indemnitee for purposes of determining the right to indemnification under this
Agreement.

     

    10.           Intentions.  The
Company shall, to the fullest extent not prohibited by law, be precluded from
asserting in any judicial proceeding or arbitration commenced relating to this
Agreement that the procedures and presumptions of this Agreement are not valid,
binding and enforceable and shall stipulate in any such court or before any such
arbitrator that the Company is bound by all the provisions of this
Agreement.  It is the intent of the Company that the Indemnitee not be
required to incur legal fees or other expenses associated with the
interpretation, enforcement or defense of Indemnitee's rights under this
Agreement by litigation or otherwise because the cost and expense thereof would
substantially detract from the benefits intended to be extended to the
Indemnitee hereunder.  The Company shall indemnify Indemnitee against
any and all expenses and, if requested by Indemnitee, shall (within ten (10)
days after receipt by the Company of a written request therefor) advance, to the
extent not prohibited by law, such expenses to Indemnitee, which are incurred by
Indemnitee in connection with any action brought by Indemnitee for
indemnification or advance of expenses from the Company under this Agreement or
under any directors' and officers' liability insurance policies maintained by
the Company, regardless of whether Indemnitee ultimately is determined to be
entitled to such indemnification, advancement of expenses or insurance recovery,
as the case may be.

     

     

    
      	
              11.  

            	
              Construction of
      Certain Phrases.

            

    

     

    (a) For
purposes of this Agreement, references to the "Company" shall include, in
addition to the resulting corporation, any constituent corporation (including
any constituent of a constituent) absorbed in a consolidation or merger which,
if its separate existence had continued, would have had power and authority to
indemnify its directors, officers, and employees or agents, so that if
Indemnitee is or was a director, officer, employee or agent of such constituent
corporation, or is or was serving at the request of such constituent corporation
as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise, Indemnitee shall stand in the same
position under the provisions of this Agreement with respect to the resulting or
surviving corporation as Indemnitee would have with respect to such constituent
corporation if its separate existence had continued.

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

     

    (b) For
purposes of this Agreement, references to "other enterprises" shall include
employee benefit plans; references to "fines" shall include any excise taxes
assessed on Indemnitee with respect to an employee benefit plan; and references
to "serving at the request of the Company" shall include any service as a
director, officer, employee or agent of the Company which imposes duties on, or
involves services by, such director, officer, employee or agent with respect to
an employee benefit plan, its participants, or beneficiaries; and if Indemnitee
acted in good faith and in a manner Indemnitee reasonably believed to be in the
interest of the participants and beneficiaries of an employee benefit plan,
Indemnitee shall be deemed to have acted in a manner "not opposed to the best
interests of the Company" as referred to in this Agreement.

     

    12.  Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall
constitute an original.

     

    
      	
              13.             

            	
              Successors and
      Assigns. This Agreement
      shall be binding upon the Company and its successors and assigns, and
      shall inure to the benefit of Indemnitee and Indemnitee's estate, heirs,
      legal representatives and assigns.

            

    

     

    
      	
              14.             

            	
              Attorneys'
      Fees. In
      the event that any action is instituted by Indemnitee under this Agreement
      to enforce or interpret any of the terms hereof, Indemnitee shall be
      entitled to be paid all court costs and expenses, including reasonable
      attorneys' fees, incurred by Indemnitee with respect to such action,
      unless as a part of such action, the court of competent jurisdiction
      determines that each of the material assertions made by Indemnitee as a
      basis for such action were not made in good faith or were frivolous. In
      the event of an action instituted by or in the name of the Company under
      this Agreement or to enforce or interpret any of the terms of this
      Agreement, Indemnitee shall be entitled to be paid all court costs and
      expenses, including attorneys' fees, incurred by Indemnitee in defense of
      such action (including with respect to Indemnitee's counterclaims and
      cross-claims made in such action), unless as a part of such action the
      court determines that each of Indemnitee's material defenses to such
      action were made in bad faith or were
frivolous.

            

    

     

    15.                  Notice. All notices,
requests, demands and other communications under this Agreement shall be in
writing and shall be deemed duly given (i) if delivered by hand and receipted
for by the party addressee, on the date of such receipt, (ii) if mailed by
domestic certified or registered mail with postage prepaid, on the third
business day after the date postmarked, or (iii) mailed by reputable overnight
courier and receipted for by the party addressee, on the date of such receipt.
Addresses for notice to either party are as shown on the signature page of this
Agreement, or as subsequently modified by written notice.

     

    
      
         

      

      
        9

        
          

        

      

      
         

      

    

     

    
      	
              16.                   

            	
                Consent to
      Jurisdiction. The
      Company and Indemnitee each hereby irrevocably consent to the jurisdiction
      of the courts of the State of New York for all purposes in connection with
      any action or proceeding which arises out of or relates to this Agreement
      and agree that any action instituted under this Agreement shall be brought
      only in the courts of the State of New
York.

            

    

     

    
      	
              17.                   

            	
                Choice of Law.
      This Agreement shall be governed by and its provisions construed in
      accordance with the laws of the State of Delaware, without regard to the
      conflict of law principles thereof.

            

    

     

    
      	
              18.             

            	
                Duration of
      Agreement.  This Agreement shall continue until and
      terminate upon the later of: (a) ten (10) years after the date that
      Indemnitee shall have ceased to serve as a director, officer or employee
      of the Company or, at the request of the Company, as a director, officer,
      employee, agent or fiduciary of another corporation, partnership, joint
      venture, trust, employee benefit plan or other enterprise or (b) two (2)
      years after the final termination of any proceeding then pending in
      respect of which Indemnitee is granted rights of indemnification or
      advancement of expenses hereunder and of any proceeding commenced by
      Indemnitee to enforce the provisions of this Agreement relating
      thereto.  This Agreement shall be binding upon the Company and
      its successors and assigns and shall inure to the benefit of Indemnitee
      and his heirs, executors and
administrators.

            

    

     

    
      	
              19.             

            	
                Subrogation. In
      the event of payment under this Agreement, the Company shall be subrogated
      to the extent of such payment to all of the rights of recovery of
      Indemnitee, who shall execute all documents required and shall do all acts
      that maybe necessary to secure such rights and to enable the Company
      effectively to bring suit to enforce such
  rights.

            

    

     

    
      	
              20.                   

            	
                Amendment and
      Termination. No
      amendment, modification, termination or cancellation of this Agreement
      shall be effective unless it is in writing signed by both the parties
      hereto. No waiver of any of the provisions of this Agreement shall be
      deemed or shall constitute a waiver of any other provisions hereof
      (whether or not similar) nor shall such waiver constitute a continuing
      waiver.

            

    

     

    
      	
              21.                   

            	
                Integration and Entire
      Agreement. This
      Agreement sets forth the entire understanding between the parties hereto
      and supersedes and merges all previous written and oral negotiations,
      commitments, understandings and agreements relating to the subject matter
      hereof between the parties hereto.

            

    

     

    
      
         

      

      
        10

        
          

        

      

      
         

      

    

     

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

     

     

    

     

    
      
        
          	
                   NEOSTEM,
      INC.

                   

                	 	 	INDEMNITEE	 
	
                  By:

                	 	 	
                   

                	 
	
                  Name:

                	 	 	
                  Name: 

                	 
	
                  Title:

                	 	 	
                  Title:

                	 
	
                   

                  NeoStem
      Address: 

                  420 Lexington Avenue
      
                    Suite
      450

                    New
      York, NY  10170

                  

                	 	 	
                   

                  Indemnitee
      Address:Unassociated Document

     

    SEPARATION AGREEMENT AND
GENERAL RELEASE

    

    

    THIS SEPARATION AGREEMENT AND GENERAL
RELEASE (this “Agreement”) is made as of the 29th day of
September, 2009 (the “Effective Date”), by and between Mark Weinreb (“Weinreb”)
and NeoStem, Inc. (the “Company”).

    

    WHEREAS, the Company has
employed Weinreb as its President; and

    

    WHEREAS, the Company and
Weinreb executed an employment agreement dated February 6, 2003 between a
predecessor of the Company and Weinreb, as amended on August 12, 2005, June 1,
2006, January 22, 2007, September 28, 2007 and December 21, 2007 (collectively,
the “Employment Agreement”); and

    

    WHEREAS, Weinreb and the
Company entered into an Employee Confidentiality, Invention Assignment and
Non-Compete Agreement on July 10, 2006, a copy of which is attached to this
Agreement as Exhibit A, (the “Restrictive Covenant Agreement”); and

    

    WHEREAS, the Company granted
Weinreb the twenty-three option grants listed on Exhibit B attached to this
Agreement (the “Option Grants”); and

    

    WHEREAS, Weinreb is a party to
a lock up and voting agreement effective November 2, 2008 that, among other
restrictions, prohibits him from selling any shares of the Company’s common
stock until six months after the consummation of the merger of China
Biopharmaceuticals Holding, Inc. into CBH Acquisition, LLC (the “Lock Up
Agreement”); and

    

    WHEREAS, Weinreb’s employment
with the Company is now terminating; and

    

    WHEREAS, Weinreb and the
Company desire to settle fully and finally any differences, rights and duties
arising between them, including, but in no way limited to, any differences,
rights and duties that have arisen or might arise out of or are in any way
related to Weinreb’s employment with the Company and the termination of his
employment;

    

    NOW, THEREFORE, in
consideration of the payment, benefits and other covenants contained in this
Agreement, which Weinreb acknowledges are in excess of any benefits to which
Weinreb would otherwise be entitled, the parties agree as follows:

    

    1.            
Termination.  Weinreb’s
employment with the Company will terminate effective October 2, 2009 (the
“Termination Date”).

    

    2.            
Separation
Payment.  Subject to Section 14(a) below, the Company shall pay
Weinreb the following amounts:

    

    (a)           
The Company shall continue to pay Weinreb’s regular salary of $17,500 per month
from October 1, 2009 through December 31, 2009, less all applicable
withholdings.  The Company will pay these amounts in accordance with
the Company’s normal payroll practices, commencing on the next payroll period
following the eighth day following the date Weinreb executes and returns this
Agreement to the Company.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    (b)           Provided
Weinreb executes and delivers this Agreement to the Company on or before
September 29, 2009 at 12:00 pm, the Company will pay Weinreb a bonus of $32,500,
less all applicable withholdings, on the Company’s normal October 2, 2009
payroll in lieu of the $7,500 otherwise payable to him.

    

    3.            
Stock
Options.  Subject to Section 14(a) below, the Company agrees to
the following treatment of Weinreb’s Option Grants and his stock ownership in
the Company.

    

    (a)         
  In accordance with the terms of the Company’s 2003 Equity
Compensation Plan, all unvested options under any of the Option Grants shall be
forfeited as of the Termination Date, except Weinreb shall not forfeit any
unvested options under:  (i) the Option Grant to acquire 10,000 shares
of the Company’s common stock at an exercise price of $4.95 per share, dated
September 27, 2007, (the “Merger Option”); and (ii) the Option Grant to acquire
10,000 shares of the Company’s common stock at an exercise price of $1.63 per
share, dated February 27, 2008, (the “Cash Flow Option”).  In
accordance with the terms of each grant, both the Merger Option and the Cash
Flow Option shall fully vest on the consummation of the merger of China
Biopharmaceuticals Holding, Inc. into CBH Acquisition, LLC.

    

    (b)          
Provided the Company’s shareholders approve Proposal No. 9 set forth in the Form
S-4 filed by the Company with the Securities and Exchange Commission, which
approves an amendment to the Company’s 2003 Equity Compensation Plan to permit
the Company’s Board of Directors to reprice outstanding options under the plan
and provided the Company’s Board of Directors reprices the exercise price of
outstanding options under the plan to the greater of $.80 and the fair market
value of the Company’s common stock as of the date of the repricing, the
exercise price of all outstanding options under the Option Grants shall be
repriced to the greater of $.80 and the fair market value of the Company’s
common stock as of the date of the repricing.

    

    (c)          
The Company hereby amends the terms of each outstanding Option Grant to extend
the period in which Weinreb may exercise vested options following the
Termination Date to the earlier of:  (i) the original expiration date
of each Option Grant; (ii) the second anniversary of the Termination Date; and
(iii) the date on which the Company determines, in good faith, that Weinreb has
violated the Restrictive Covenant Agreement, except that the Company does not so
amend the Option Grant to acquire 100,000 shares of the Company’s common stock
at an exercise price of $1.95 per share, dated May 21, 2009, (the “2009 ECP
Option”).   The 2009 ECP Option shall remain exercisable through
its original expiration date of May 20, 2019, subject to the conditions of
(iii), above.  Any vested options that remain unexercised after the
earliest of the applicable dates above shall be forfeited and cancelled without
any further action by the Company or its Board of Directors.

    

    (d)          
Weinreb shall remain subject to the terms of the Lock Up Agreement, except that,
subject to the approval of China Biopharmaceuticals Holding, Inc., commencing on
December 1, 2009, Weinreb may sell up to 30,000 shares of the Company’s common
stock in each calendar month.  Notwithstanding the foregoing, any
sales by Weinreb of the Company’s common stock must comply in all respects with
the applicable securities laws.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    4.            
Employee
Benefits.  Weinreb’s participation in any Company-sponsored
employee benefit plans will terminate on the Termination
Date.  Weinreb will be eligible to continue his health, dental and
visions care coverage pursuant to the provisions of the Consolidated Omnibus
Reconciliation Act of 1985 (“COBRA”) for a period of 18 months commencing
October 1, 2009.  If Weinreb elects continued coverage under COBRA,
the Company will pay the monthly premium due in connection with his and his
family’s continued participation in the Company’s employee health plan for
twelve (12) months, through September 30, 2010.  Thereafter, Weinreb
will be required to pay the full monthly premium.  If Weinreb secures
new employment and becomes eligible for benefits under a new employer’s group
health plan, he must immediately notify the Company of the start date of that
insurance, by letter addressed to Catherine M. Vaczy, Esq., Vice President and
General Counsel, NeoStem, Inc., 420 Lexington Avenue, Suite 450, New York, New
York 10170.  Weinreb will receive information about continuing his
health coverage under COBRA in a later mailing, including a form by which he may
elect continued coverage.

    

    5.            
Acknowledgement.  Weinreb
acknowledges that but for his execution of this Agreement, he would not be
entitled to the payment and benefits described in Sections 2, 3 and 4 of this
Agreement

    

    6.            
Expenses.  The
Company will reimburse Weinreb for all expenses incurred by him on or prior to
the Termination Date in connection with his duties as President, provided he
submits an expense report and receipts in accordance with the Company’s normal
expense reimbursement policy.

    

    7.            
Employee
Release.

    

    (a)         
  In consideration of the payments, benefits and covenants contained
in this Agreement, Weinreb, for himself and for his children, heirs,
administrators, representatives, executors, successors and assigns, releases and
gives up any and all claims and rights which Weinreb has, may have or hereafter
may have against the Company, its respective owners, members, subsidiaries,
affiliates, predecessors, successors, assigns, officers, directors,
shareholders, employees and agents and all of their predecessors, successors and
assigns (the “Company Releasees”) from the beginning of the world until the date
of the execution of this Agreement, including, but not limited to, any and all
charges, complaints, claims, liabilities, obligations, promises, agreements,
controversies, damages, remedies, actions, causes of action, suits, rights,
demands, costs, losses, debts and expenses (including attorneys’ fees and costs)
of any nature whatsoever, whether known or unknown, whether in law or equity
(collectively, “Claims”), including, but not limited to, any Claims (i) arising
out of or related to Weinreb’s employment with the Company; (ii) arising out of
or related to the termination of his employment with the Company, (iii) arising
out of or related to the Employment Agreement; (iv) based on contract whether
express or implied, written or oral, and (v) arising under or related to the
United States and/or State Constitutions, federal and/or common law, and/or
rights arising out of alleged violations of any federal, state or other
governmental statutes, regulations or ordinances or the laws of any country or
jurisdiction including, without limitation, the National Labor Relations Act,
Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment
Act of 1967, the Older Workers’ Benefit Protection Act of 1990, the Americans
with Disabilities Act of 1990, the Civil Rights Act of 1871, the Civil Rights
Act of 1991, the Equal Pay Act of 1963, the Worker Adjustment and Retraining
Notification Act of 1988, the Employee Retirement Income Security Act of 1974,
the New York Labor Law, the New York State Human Rights Law and the New York
City Human Rights Law, all as amended.  This Section releases all
Claims related, but not limited to, the right to the payment of wages, bonuses,
vacation, pension benefits or any other employee benefits, and any other rights
arising under federal, state or local laws prohibiting discrimination and/or
harassment on the basis of race, color, religion, religious creed, sex, sexual
orientation, national origin, ancestry, age, mental retardation, learning
disability or blindness, mental or physical disability, disorder or handicap,
alienage or citizenship status, marital status or domestic partnership status,
genetic information, military status or any other basis prohibited by
law.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    (b)          
This release does not waive or release any Claims that Weinreb may have against
the Company related to:  (i) vested benefits under the Company’s
401(k) plan; (ii) events occurring after the date he executes this Agreement; or
(iii) enforcing the terms of this Agreement.

    

    (c)          
Weinreb represents that he has not filed against the Company or any of the
Company Releasees or any of their respective affiliates any Claims with any
governmental or administrative agency, arbitral tribunal, administrative
tribunal, self-regulatory body, or any court arising out of or related to his
employment by the Company or any other matter arising on or prior to the date
hereof.  Weinreb covenants and agrees that he will not, directly or
indirectly, commence or prosecute, or assist in the filing, commencement or
prosecution in any court any Claim brought either by Weinreb or by any person or
entity, against the Company or any of the Company Releasees, arising out of any
of the matters set forth in this Agreement or based upon any
Claim.  Weinreb further waives his right to any monetary recovery in
connection with a local, state or federal governmental agency proceeding and his
right to file a claim seeking monetary damages in any court.  This
Agreement does not (i) prohibit or restrict Weinreb from communicating,
providing relevant information to or otherwise cooperating with the EEOC or any
other governmental authority with responsibility for the administration of fair
employment practices laws regarding a possible violation of such laws or
responding to any inquiry from such authority, including an inquiry about the
existence of this Agreement or its underlying facts, or (ii) require Weinreb to
notify the Company of such communications or inquiry.

    

    8.            
 Company
Release.

    

    (a)          
 In consideration of the payments, benefits and covenants contained in this
Agreement, the Company, for itself and the Company Releasees, releases and gives
up any Claims which they have, may have or hereafter may have against Weinreb
and his children, heirs, administrators, representatives, executors, successors
and assigns (the “Weinreb Releasees”) from the beginning of the world until the
date of the execution of this Agreement, including, but not limited to, any
Claims (i) arising out of or related to Weinreb’s employment with the Company;
(ii) arising out of or related to the Employment Agreement; (iii) based on
contract whether express or implied, written or oral, and (iv) arising under or
related to the United States and/or State Constitutions, federal and/or common
law, and/or rights arising out of alleged violations of any federal, state or
other governmental statutes, regulations or ordinances or the laws of any
country or jurisdiction.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    (b)           Notwithstanding
the foregoing, this release does not waive or release any Claims that the
Company or the Company Releasees may have against Weinreb related
to:  (i) wrongful, illegal or bad faith acts or omissions by Weinreb
during his service as the Company’s President; (ii) events occurring after the
date he executes this Agreement; or (iii) enforcing the terms of this
Agreement.

    

    (c)           The
Company represents that it has not filed against Weinreb or any of the Weinreb
Releasees any Claims with any governmental or administrative agency, arbitral
tribunal, administrative tribunal, self-regulatory body, or any court arising
out of or related to Weinreb’s employment by the Company or any other matter
arising on or prior to the date of this Agreement.  The Company
covenants and agrees that it will not, directly or indirectly, commence or
prosecute, or assist in the filing, commencement or prosecution in any court any
Claim brought either by the Company or by any person or entity, against Weinreb
or any of the Weinreb Releasees arising out of any of the matters set forth in
this Agreement or based upon any Claim.

    

    9.          
  Confidentiality
and Intellectual Property.  Weinreb acknowledges and agrees
that the Restrictive Covenant Agreement shall survive the execution of this
Agreement and shall remain in full force and effect.  Weinreb
certifies that he has fully complied with all of his obligations under the
Restrictive Covenant Agreement as of the Termination Date, including without
limitation, his obligation under Section 2 to return to the Company all
information and documents related to Inventions or Confidential Information (as
those terms are defined in that agreement).  Weinreb further certifies
that he has returned, or will return by the Termination Date, all Company
property, including without limitation, office, door and file keys,
identification cards, credit cards, business cards, computer access codes and
instructional manuals.  Weinreb represents and covenants that he will
fully comply with his obligations under the Restrictive Covenant Agreement
following the Termination Date.  Weinreb may disclose the terms of the
Restrictive Covenant Agreement to others with whom he may enter into a business
relationship.

    

    10.           Non-Disparagement.

    

    (a)           Weinreb
agrees to not (and shall not encourage or induce others to), in any manner,
directly or indirectly, make or publish any statement (orally or in writing)
that would libel, slander, disparage, denigrate, ridicule or criticize the
Company, any of its affiliates or any of the Company’s or an affiliate’s
respective employees, officers or directors.  Weinreb further agrees
that without the Company’s prior, written consent, he will not:  (i)
hold himself out as continuing to be affiliated or associated with the Company
or any of its affiliates in any way after the Termination Date (which
prohibition shall not preclude Weinreb from representing his employment with the
Company prior to the Termination Date); or (ii) make any statements concerning
the Company, any of its affiliates or any of the Company’s or an affiliate’s
respective employees, officers or directors in the public domain, including
without limitation statements in, or intended for use in, publications, print,
electronic media, advertising or public presentations.

    

    (b)          
Provided Weinreb directs requests for future references to Catherine Vaczy or to
her designee, the Company agrees to confirm in response to such request only
Weinreb’s last title and dates of employment.  The Company will
instruct Robin Smith and Catherine Vaczy not, in any manner, directly or
indirectly, to make or publish any statement (orally or in writing) that would
libel, slander, disparage, denigrate, ridicule or criticize
Weinreb.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    (c)          
 Nothing in this paragraph, however, shall preclude Weinreb, the Company,
Smith or Vaczy from giving truthful testimony under oath in response to a
subpoena or other lawful process and truthful answers in response to questions
from a government investigator.

    

    11.          
 Cooperation.  Weinreb
agrees (upon reasonable notice and within reasonable time commitments) to
cooperate with and assist the Company, its affiliates and its and their legal
counsel and provide information to the Company, its affiliates and its and their
legal counsel as to matters in which Weinreb was involved prior to the
Termination Date, including, without limitation, information needed in
connection with any claim or litigation, investigation, administrative
proceeding, arbitration or enforcement action by or against the Company or any
of its affiliates relating to any matter in which he was involved or about which
he had knowledge, and will testify as a witness in connection with such matters
if requested by the Company or any one of its affiliates.  The Company
will reimburse Weinreb for his reasonable out-of-pocket expenses he incurs in
connection with his compliance with this Section, except the Company will not
reimburse Weinreb for any attorneys’ fees he incurs.

    

    12.         
  No
Admission of Liability.  This Agreement does not constitute or
imply an admission of liability or wrongdoing by the Company or any of the
Releasees.

    

    13.           Confidentiality.  The
terms of this Agreement are CONFIDENTIAL.  Weinreb
and the Company each agrees not to tell anyone about this Agreement and not to
disclose any information contained in this Agreement to anyone, other than to
their respective lawyers, financial advisors or Weinreb’s immediate family
members, except as necessary to administer this Agreement, to enforce the terms
of this Agreement or to respond to a valid subpoena or other legal
process.  If Weinreb does tell his lawyer, financial advisor or
immediate family members about this Agreement or its contents, he must
immediately tell them that they must keep it confidential as well.

    

    14.         
 Breach.

    

    (a)          
 If the Company determines in good faith that Weinreb has breached, is
breaching or threatens to breach the Restrictive Covenant Agreement, in addition
to any other rights to injunctive relief and monetary damages available under
that agreement or at common law, Weinreb shall repay the Continued Salary to the
Company.  To the extent that the Company has not yet paid all or any
portion of the Continued Salary under Section 2(a) of this Agreement, the
Company may immediately suspend any further payments to Weinreb under Section
2(a).  The prevailing party in any action arising out of or related to
a breach of the Restrictive Covenant Agreement shall be entitled to an award of
reasonable attorneys’ fees and costs in addition to any other legal and
equitable relief.

    

    (b)        
  Excluding any breach of the Restrictive Covenant Agreement, the
parties may only institute an action for specific enforcement of the terms of
this Agreement and seek damages resulting from such breach.  Weinreb
may not institute any proceeding based on claims related to Weinreb’s employment
with the Company or the termination thereof.

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

    15.         
 No
Reliance. Weinreb represents that,
in executing this Agreement, he does not rely and has not relied upon any
representation or statement not set forth in this Agreement that the Company or
any of its members, agents, representatives, or attorneys may have made with
regard to the subject matter, basis or effect of this Agreement.  The
Company asserts that they have made no representation or statement that is not
reflected in this Agreement.  No other promises, agreements or
modifications shall be binding unless in writing and signed after the Effective
Date.

    

    16.         
 Governing
Law and Jurisdiction.  This Agreement shall be construed in
accordance with the laws of the State of New York without regard to any state’s
conflict of law provisions.  Any dispute arising out of or related to
this Agreement shall be submitted to the New York State Supreme Court, New York
County.  Weinreb and the Company each consents to the exercise of
personal jurisdiction over him or it for this purpose and waives any objection
to the exercise of jurisdiction based on improper venue or inconvenient
forum.  Each of Weinreb and the Company waives any right to resolve
any dispute arising under or related to this Agreement before a
jury.

    

    17.         
 Severability. If at any time after the
date of the execution of this Agreement, any provision of this Agreement shall
be held in any court or agency of competent jurisdiction to be illegal, void, or
unenforceable, such provision shall be deemed to be restated to reflect, as
nearly as possible, the original intentions of the parties in accordance with
applicable law.  The invalidity or unenforceability of any provision
of this Agreement, however, shall not affect the validity or enforceability of
any other provision of this Agreement, the Covenants Agreement or the Assignment
Agreement, all of which shall remain in full force and effect.

    

    18.         
 Entire
Agreement.  This Agreement, the Covenants Agreement and the
Assignment Agreement set forth the entire agreement between the parties with
respect to the subject matter hereof.  This Agreement, the Covenants
Agreement and the Assignment Agreement collectively supersede any and all prior
understandings and agreements between the parties, including without limitation
the Offer Letter and if applicable, the Original Offer Letter, and neither party
shall have any obligation toward the other except as set forth in this
Agreement, the Covenants Agreement and the Assignment Agreement.  This
Agreement may not be modified except in a writing signed by all
parties.

    

    19.         
 Enforceability. Weinreb is bound by this
Agreement.  Anyone who succeeds to his rights and responsibilities,
such as his heirs or the executors of his estate, is also bound.  This
Agreement is made for the Company’s benefit and all who succeed to the Company’s
rights and responsibilities, such as the Company’s successors or
assigns.

    

    20.         
 Headings.
The headings contained in this Agreement are for the convenience of reference
only and are not intended to define, limit, expand or describe the scope or
intent of any provision of this Agreement.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    21.          
 Warranties. By signing this
Agreement, Weinreb acknowledges the following:

    

    (a)           
He understands that this Agreement is LEGALLY BINDING and by signing
it he gives up certain rights.

    

    (b)          
The Company has given him twenty-one (21) days to consider his rights and
obligations under this Agreement (although he may execute and return this
Agreement at any time).

    

    (c)           The
Company advised him to consult with an attorney and/or any other advisors of his
choice before signing this Agreement.

    

    (d)          
He has voluntarily chosen to enter into this Agreement and has not been forced
or pressured in any way to sign it.

    

    (e)           He
acknowledges and agrees that the payments and benefits set forth in Sections 2,
3 and 4 of this Agreement and the other benefits and covenants contained herein
are contingent on his executing this Agreement and KNOWINGLY AND VOLUNTARILY RELEASING
all Claims against the Company and the other Releasees that he may have,
known or unknown, and that these benefits are in addition to any benefit he
would have otherwise received if he did not sign this Agreement.

    

    (f)            This
Agreement shall have no force and effect and he will not be entitled to any of
the payments and benefits or payments described in Section 2, 3 and 4 of this
Agreement, unless he signs and delivers this Agreement on or before twenty one
(21) days after he received it.

    

    (g)         
 He has seven (7) days after he signs this Agreement to revoke it by
notifying the Company in writing to the attention of the undersigned at NeoStem,
Inc., 420 Lexington Avenue, Suite 450, New York, New York 10170 so that the
revocation notice is received by the Company on or before the end of the seventh
day.  The Agreement will not become effective or enforceable until the
seven (7) day revocation period has expired.

    

    (h)         
 This Agreement includes a WAIVER OF ALL RIGHTS AND
CLAIMS he may have under the Age Discrimination in Employment Act of 1967
(29 U.S.C. §621 et
seq.); and

    

    (i)            This
Agreement does not waive any rights or claims that may arise after this
Agreement becomes effective, which is seven (7) days after you sign it, provided
that you do not exercise your right to revoke this Agreement

    

    IN WITNESS WHEREOF, the
parties have executed this Agreement as of the Effective Date.

     

    
      
        
          
            
              
                	
                        MARK
      WEINREB

                      	 
      	
                        NEOSTEM,
      INC.

                      	 
	 
      	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
      	 
	    
      	 
      	
                        By:

                      	
                         

                      	 
	 
      	 
      	 
      	
                        Robin
      L. Smith

                      	 
	 
      	 
      	 
      	
                        Chief
      Executive Officer

                      	 

              

            

          

        

      

    

     

    
      
        
        

      

      
        8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]