Document:

Prepared by R.R. Donnelley Financial -- Form of Indemnification Agreement

 EXHIBIT 10.9 
  
 INDEMNIFICATION AGREEMENT 
  
 AGREEMENT, made this      day of             , 2004,
between Threshold Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and                      (the
“Indemnitee”). 
  
 W I T N
E S S E T H: 
  
 WHEREAS, the Indemnitee is a director and/or officer of the Company. 
  
 WHEREAS, highly competent persons have become more reluctant to serve publicly-held corporations as directors 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, in recognition of Indemnitee’s need for substantial protection against personal liability in order to enhance Indemnitee’s continued
service to the Company in an effective manner and Indemnitee’s reliance on the provisions of the Company’s Certificate of Incorporation (“Certificate of Incorporation”) and the Company’s Bylaws (the “Bylaws”)
requiring indemnification of the Indemnitee to the fullest extent permitted by law, and in part to provide Indemnitee with specific contractual assurance that the protection promised by such Certificate of Incorporation and Bylaws will be available
to Indemnitee (regardless of, among other things, any amendment to or revocation of such Certificate of Incorporation or Bylaws or any change in the composition of the Company’s Board of Directors or acquisition transaction relating to the
Company), the Company wishes to provide in this Agreement for the indemnification of and the advancing of expenses to Indemnitee to the fullest extent (whether partial or complete) permitted by law and as set forth in this Agreement. 
  
 WHEREAS, the Certificate of Incorporation, the Bylaws and the General
Corporation Law of the State of Delaware (“DGCL”) expressly provide 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, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on behalf of, such persons 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. 
  
 WHEREAS, this Agreement is a supplement to and in furtherance of the Certificate of Incorporation and Bylaws and any resolutions adopted pursuant thereto
and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder. 

 NOW, THEREFORE, in consideration of the premises and of Indemnitee agreeing to serve or continuing to
serve the Company directly or, at its request, with another enterprise, and intending to be legally bound hereby, the parties hereto agree as follows: 
  
 Section 1. Basic Indemnification Agreement. (a) In the event Indemnitee was, is or becomes a party to or witness or other participant in, or
is threatened to be made a party to or witness or other participant in, a Claim (as defined in Section 9(b) herein)by reason of (or arising in part out of) an Indemnifiable Event (as defined in Section 9(d) herein), the Company shall indemnify
Indemnitee to the fullest extent permitted by law as soon as practicable but in any event no later than 30 days after written demand is presented to the Company, against any and all Expenses (as defined in Section 9(c) herein), judgments, fines,
penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable in connection therewith) of such Claim actually and reasonably incurred by or on behalf of Indemnitee in connection with such Claim and
any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement. If requested by Indemnitee in writing, the Company shall advance (within ten business days of such
written request) any and all Expenses to Indemnitee (an “Expense Advance”). Notwithstanding anything in this Agreement to the contrary, and except as provided in Section 3, prior to a Change of Control (as defined in Section 9(a) herein),
Indemnitee shall not be entitled to indemnification pursuant to this Agreement in connection with any Claim (i) initiated by Indemnitee against the Company or any director or officer of the Company unless the Company has joined in or consented to
the initiation of such Claim; or (ii) made on account of Indemnitee’s conduct which constitutes a breach of Indemnitee’s duty of loyalty to the Company or its stockholders or is an act or omission not in good faith or which involves
intentional misconduct or a knowing violation of the law. 
  
 (b)
Notwithstanding the foregoing, (i) the indemnification obligations of the Company under Section 1(a) shall be subject to the condition that the Reviewing Party shall not have determined (in a written opinion, in any case in which the special
independent counsel referred to in Section 2 hereof is involved) that Indemnitee would not be permitted to be indemnified under applicable law, and (ii) the obligation of the Company to make an Expense Advance pursuant to Section 1(a) shall be
subject to the condition that the Company receives an undertaking that, if, when and to the extent that the Reviewing Party determines that Indemnitee would not be permitted to be so indemnified under applicable law, the Company shall be entitled to
be reimbursed by Indemnitee (who hereby agrees to reimburse the Company) for all such amounts theretofore paid; provided, however, that if Indemnitee has commenced legal proceedings in the Court of Chancery of the State of Delaware (the
“Delaware Court”) to secure a determination that Indemnitee should be indemnified under applicable law, any determination made by the Reviewing Party that Indemnitee would not be permitted to be indemnified under applicable law shall not
be binding and Indemnitee shall not be required to reimburse the Company for any Expense Advance until a final judicial determination is made with respect thereto (as to which all rights of appeal therefrom have been exhausted or lapsed).
Indemnitee’s obligation to reimburse the Company for Expense Advances shall be unsecured and no interest shall be charged thereon. If there has not been a Change in Control, the Reviewing Party shall be selected by the Board of Directors, and
if there has been such a Change in Control, the 
  

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 Reviewing Party shall be the special independent counsel referred to in Section 2 hereof. If there has been no
determination by the Reviewing Party or if the Reviewing Party determines that Indemnitee substantively would not be permitted to be indemnified in whole or in part under applicable law, Indemnitee shall have the right to commence litigation in the
Delaware Court seeking an initial determination by the court or challenging any such determination by the Reviewing Party or any aspect thereof and the Company hereby consents to service of process and to appear in any such proceeding. Any
determination by the Reviewing Party otherwise shall be conclusive and binding on the Company and Indemnitee. 
  
 Section 2. Change in Control. The Company agrees that if there is a Change in Control of the Company (other than a Change in Control which
has been approved by two- thirds or more of the Company’s Board of Directors who were directors immediately prior to such Change in Control) then with respect to all matters thereafter arising concerning the rights of Indemnitee to indemnity
payments and Expense Advances under this Agreement or any other agreement, the Bylaws or Certificate of Incorporation now or hereafter in effect relating to Claims for Indemnifiable Events, the Company shall seek legal advice only from special
independent counsel selected by Indemnitee and approved by the Company (which approval shall not be unreasonably withheld or delayed) and who has not otherwise performed services for the Company within the last five years (other than in connection
with such matters) or for Indemnitee. In the event that Indemnitee and the Company are unable to agree on the selection of the special independent counsel, such special independent counsel shall be selected by lot from among at least five law firms
with offices in the State of Delaware having more than fifty attorneys, having a rating of “av” or better in the then current Martindale Hubbell Law Directory and having attorneys which specialize in corporate law. Such selection shall be
made in the presence of Indemnitee (and his legal counsel or either of them, as Indemnitee may elect). Such counsel, among other things, shall, within 90 days of its retention, render its written opinion to the Company and Indemnitee as to whether
and to what extent Indemnitee would be permitted to be indemnified under applicable law. The Company agrees to pay the reasonable fees of the special independent counsel referred to above and to fully indemnify such counsel against any and all
expenses (including attorneys’ fees), claims, liabilities, and damages arising out of or relating to this Agreement or its engagement pursuant hereto. 
  
 Section 3. Indemnification for Additional Expenses. The Company shall indemnify Indemnitee against any and all expenses (including
attorneys’ fees) and, if requested by Indemnitee in writing, shall (within ten business days of such written request) advance such expenses to Indemnitee, which are incurred by Indemnitee in connection with any Claim asserted against or action
brought by Indemnitee for (i) indemnification or advance payment of Expenses by the Company under this Agreement or any other agreement, the Bylaws or Certificate of Incorporation now or hereafter in effect relating to Claims for Indemnifiable
Events and/or (ii) recovery 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, advance expense
payment or insurance recovery, as the case may be. The Indemnitee shall qualify for advances solely upon the execution and delivery to the Company of an undertaking providing that the Indemnitee undertakes to repay the advance to the extent that it
is ultimately determined that the Indemnitee is not entitled to be indemnified by the Company. 
  

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 Section 4. Partial Indemnity, Etc. If Indemnitee is entitled under any provisions of this
Agreement to indemnification by the Company of some or a portion of the Expenses, liabilities, judgments, fines, penalties and amounts paid in settlement of a Claim but not, however, for all of the total amount thereof, the Company shall
nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled. Moreover, notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been successful on the merits or otherwise in defense of
any or all Claims relating in whole or in part to an Indemnifiable Event or in defense of any issue or matter therein, including dismissal without prejudice, Indemnitee shall be indemnified against all Expenses incurred in connection therewith. In
connection with any determination by the Reviewing Party or otherwise as to whether Indemnitee is entitled to be indemnified hereunder the burden of proof shall be on the Company to establish that Indemnitee is not so entitled. 
  
 Section 5. No Presumption. For purposes of this Agreement, the
termination of any action, suit or proceeding by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that Indemnitee did not meet
any particular standard of conduct or have any particular belief. 
  
 Section 6. Notification and Defense of Claim. Within 30 days after receipt by Indemnitee of notice of the commencement of a Claim which may involve an Indemnifiable Event, Indemnitee will, if a claim in respect thereof is to
be made against the Company under this Agreement, submit to the Company a written notice identifying the proceeding, but the omission so to notify the Company will not relieve it from any liability which it may have to Indemnitee under this
Agreement unless the Company is materially prejudiced by such lack of notice. With respect to any such Claim as to which Indemnitee notifies the Company of the commencement thereof: 
  
 (a) the Company will be entitled to participate therein at its own expense; 
  
 (b) except as otherwise provided below, to the extent that it may wish, the
Company jointly with any other indemnifying party similarly notified will be entitled to assume the defense thereof, with counsel satisfactory to Indemnitee. After notice from the Company to Indemnitee of its election to assume the defense thereof,
the Company will not be liable to Indemnitee under this Agreement for any legal or other expenses subsequently incurred by Indemnitee in connection with the defense thereof other than reasonable costs of investigation or as otherwise provided below.
Indemnitee shall have the right to employ its own counsel in such action, suit or proceeding, but the fees and expenses of such counsel incurred after notice from the Company of its assumption of the defense thereof shall be at the expense of
Indemnitee unless (i) the employment of counsel by Indemnitee has been authorized by the Company, (ii) Indemnitee shall have reasonably concluded that there may be a conflict of interest between the Company and the Indemnitee in the conduct of the
defense of such action, or (iii) the Company shall not in fact have employed counsel to assume the defense of such action, in each of which cases the fees and expenses of counsel shall be at the expense of the Company. The 
  

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 Company shall not be entitled to assume the defense of any claim brought by or on behalf of the Company or as to which
Indemnitee shall have made the conclusion provided for in clause (ii) above; and 
  
 (c) the Company shall not be liable to indemnify Indemnitee under this Agreement for any amounts paid in settlement of any action or claim effected without its written consent. The Company shall not settle any action
or claim in any manner which would impose any penalty or limitation on Indemnitee without Indemnitee’s written consent. Neither the Company nor Indemnitee will unreasonably withhold or delay their consent to any proposed settlement. 

 
 Section 7. Non-exclusivity, Etc. The rights of Indemnitee
hereunder shall be in addition to any other rights Indemnitee may have under the Certificate of Incorporation, the Bylaws, the DGCL, any agreement, a vote of the stockholders, a resolution of directors or otherwise. No amendment, alteration or
repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such Indemnitee acting on behalf of the Company and at the request of the Company
prior to such amendment, alteration or repeal. To the extent that a change in the DGCL (whether by statute or judicial decision), the Certificate of Incorporation or the Bylaws permits greater indemnification by agreement than would be afforded
currently under the Certificate of Incorporation, the Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein
conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise.
The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 
  
 Section 8. Liability Insurance. To the extent the Company maintains an insurance policy or policies providing
directors’ and officers’ liability insurance, Indemnitee shall be covered by such policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any Company director or officer. If, at the time
the Company receives notice from any source of a Claim as to which Indemnitee is a party or a participant (as a witness or otherwise), the Company has director and officer liability insurance in effect, the Company shall give prompt notice 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 Claim in accordance with the terms of such policies. 
  

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 Section 9. Certain Definitions. 
  
 (a) Change in Control: shall be deemed to have occurred if: 
  
 (i) before the Company has a class of securities registered under Section
12 of the Securities Exchange Act of 1934 (the “Exchange Act”): 
  
 (A) the Company, or any material subsidiary of the Company, is merged, consolidated or reorganized into or with another corporation or other legal person (an “Acquiring Person”) or securities of the Company
are exchanged for securities of an Acquiring Person, and as a result of such merger, consolidation, reorganization or exchange less than a majority of the combined voting power of the then outstanding securities of the Acquiring Person immediately
after such transaction are held, directly or indirectly, in the aggregate by the holders of Voting Securities immediately prior to such transaction; 
  
 (B) the Company, or any material subsidiary of the Company, in any transaction or series of related transactions, sells or otherwise
transfers all or substantially all of its assets to an Acquiring Person, and less than a majority of the combined voting power of the then outstanding securities of the Acquiring Person immediately after such sale or transfer are held, directly or
indirectly, in the aggregate by the holders of Voting Securities immediately prior to such sale or transfer; 
  
 (C) during any period of two consecutive years, individuals who at the beginning of any such period constitute the directors of the
Company cease for any reason to constitute at least a majority thereof, unless the election, or the nomination for election by the Company’s stockholders, of each director of the Company first elected during such period was approved by a
unanimous vote of the directors of the Company then still in office who were directors of the Company at the beginning of any such period; 
  
 (D) the Company and its subsidiaries, in any transaction or series of related transactions, sells or otherwise transfers business
operations that generated two thirds or more of the consolidated revenues (determined on the basis of the Company’s four most recently completed fiscal quarters) of the Company and its subsidiaries immediately prior thereto; or 
  
 (E) any other transaction or series of related transactions
occur that have substantially the effect of the transactions specified in any of the preceding clauses in this paragraph (i); or 
  

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 (ii) after the Company has a class of securities registered under Section 12 of the Exchange Act:

  
 (A) any person, as that term is used in
Section 13(d) and Section 14(d)(2) of the Exchange Act, becomes, is discovered to be, or files a report on Schedule 13D or 14D-1 (or any successor schedule, form or report) disclosing that such person is a beneficial owner (as defined in Rule 13d-3
under the Exchange Act or any successor rule or regulation), directly or indirectly, of securities of the Company representing 20% or more of the total voting power of the Company’s then outstanding Voting Securities (unless such person becomes
such a beneficial owner in connection with the initial public offering of the Company); 
  
 (B) individuals who, as of the consummation date of the Company’s initial public offering, constitute the Board of Directors of the
Company cease for any reason to constitute at least a majority of the Board of Directors of the Company, unless any such change is approved by a unanimous vote of the members of the Board of Directors of the Company in office immediately prior to
such cessation; 
  
 (C) the Company, or any
material subsidiary of the Company, is merged, consolidated or reorganized into or with an Acquiring Person or securities of the Company are exchanged for securities of an Acquiring Person, and immediately after such merger, consolidation,
reorganization or exchange less than a majority of the combined voting power of the then outstanding securities of the Acquiring Person immediately after such transaction are held, directly or indirectly, in the aggregate by the holders of Voting
Securities immediately prior to such transaction; 
  
 (D) the Company, or any material subsidiary of the Company, in any transaction or series of related transactions, sells or otherwise transfers all or substantially all of its assets to an Acquiring Person, and less than a majority of the
combined voting power of the then outstanding securities of the Acquiring Person immediately after such sale or transfer is held, directly or indirectly, in the aggregate by the holders of Voting Securities immediately prior to such sale or
transfer; 
  
 (E) the Company and its
subsidiaries, in any transaction or series of related transactions, sells or otherwise transfers business operations that generated two thirds or more of the consolidated revenues (determined on the basis of the Company’s four most recently
completed fiscal quarters) of the Company and its subsidiaries immediately prior thereto; 
  

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 (F) the Company files a report or proxy statement with the Securities and Exchange
Commission pursuant to the Exchange Act disclosing that a change in control of the Company has or may have occurred or will or may occur in the future pursuant to any then existing contract or transaction; or 
  
 (G) any other transaction or series of related transactions
occur that have substantially the effect of the transactions specified in any of the preceding clauses in this paragraph (ii). 
  
 Notwithstanding the provisions of Section 9(a)(ii)(A) or 9(a)(ii)(D), unless otherwise determined in a specific case by majority vote of the Board of
Directors of the Company, a Change of Control shall not be deemed to have occurred for purposes of this Agreement solely because (i) the Company, (ii) an entity in which the Company directly or indirectly beneficially owns 50% or more of the voting
securities or (iii) any Company sponsored employee stock ownership plan, or any other employee benefit plan of the Company, either files or becomes obligated to file a report or a proxy statement under or in response to Schedule 13D, Schedule 14D-1,
Form 8-K or Schedule 14A (or any successor schedule, form or report or item therein) under the Exchange Act, disclosing beneficial ownership by it of shares of stock of the Company, or because the Company reports that a Change in Control of the
Company has or may have occurred or will or may occur in the future by reason of such beneficial ownership. 
  
 (b) Claim: any threatened, pending or completed action, suit, proceeding or alternative dispute resolution mechanism, or any inquiry, hearing or
investigation whether conducted by the Company or any other party, whether civil, criminal, administrative, investigative or other. 
  
 (c) Expenses: include attorneys’ fees and all other costs, fees, expenses and obligations of any nature whatsoever paid or incurred in connection
with investigating, defending, being a witness in or participating in (including appeal), or preparing to defend, be a witness in or participate in any Claim relating to any Indemnifiable Event. 
  
 (d) Indemnifiable Event: any event or occurrence (whether before or after the
date hereof) related to the fact that Indemnitee is or was a director, officer, employee, consultant, agent or fiduciary of or to the Company, or is or was serving at the request of the Board of Directors as a director, officer, employee, trustee,
agent or fiduciary of another corporation, partnership, joint venture, employee benefit plan, trust or other enterprise, or by reason of anything done or not done by Indemnitee in any such capacity. 
  
 (e) Reviewing Party: (i) the Company’s Board of Directors (provided that
a majority of directors are not parties to the particular Claim for which Indemnitee is seeking indemnification) or (ii) any other person or body appointed by the Company’s Board of Directors, who is not a party to the particular Claim for
which Indemnitee is seeking indemnification, or (iii) if there has been a Change in Control, the special independent counsel referred to in Section 2 hereof. 
  

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 (f) Voting Securities: any securities of the Company which vote generally in the election of directors.

  
 Section 10. Amendments, Termination and Waiver.
No supplement, modification, amendment or termination of this Agreement shall be binding unless executed in writing by both of 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. 
  
 Section 11. 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 papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit
to enforce such rights. 
  
 Section 12. No Duplication
of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any Claim made against Indemnitee to the extent Indemnitee has otherwise actually received payment (under insurance policy, Certificate of
Incorporation or otherwise) of the amounts otherwise indemnifiable hereunder. 
  
 Section 13. Binding Effect, Etc. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors, assigns, including any direct
or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company, spouse, heirs, and personal and legal representatives. This Agreement shall continue in effect regardless
of whether Indemnitee continues to serve as a director or officer (or in one of the capacities enumerated in Section 9(d) hereof) of the Company or of any other enterprise at the Board of Director’s request. 
  
 Section 14. Severability. The provisions of this Agreement
shall be severable in the event that any of the provisions hereof (including any provision within a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, and the
remaining provisions shall remain enforceable to the fullest extent permitted by law. 
  
 Section 15. Applicable Law and Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and enforced in accordance with, the laws of the State
of Delaware, without regard to its conflict of laws rules. The Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the
Delaware Court and not in any other state or federal court in the United States of America or any 
  

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 court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of
any action or proceeding arising out of or in connection with this Agreement, (iii) appoint, irrevocably, to the extent such party is not a resident of the State of Delaware, National Corporate Research, Ltd., 615 South DuPont Highway, City of
Dover, County of Kent, Delaware 19901 as its agent in the State of Delaware as such party’s agent for acceptance of legal process in connection with any such action or proceeding against such party with the same legal force and validity as if
served upon such party personally within the State of Delaware, (iv) waive any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead or to make, any claim that any such action
or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum. 
  
 Section 16. Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be
deemed to be an original but all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement.

  
 [Signature Page Follows] 
  

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 This Indemnification Agreement is effective as of the date first set forth above. 
  

			
	 THRESHOLD PHARMACEUTICALS, INC.

		
	 By:
	 	  

  
 Acknowledged and Agreed:

  

			
		
	 By:
	 	  

	 	 	Indemnitee

  

 INDEMNIFICATION AGREEMENT OF THRESHOLD PHARMACEUTICALS, INC.Prepared by R.R. Donnelley Financial -- Agreement by and between the Registrant and Aziende Chimiche Riunite Angelini

 EXHIBIT 10.10 
  
 *CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED 
 SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN 
 REQUESTED WITH RESPECT TO THE OMITTED PORTIONS. 
  
 Agreement 
  
 between 
  
 Aziende Chimiche Riunite Angelini Francesco – Acraf S.p.a., having its registered office
in Viale Amelia, 70—00181 Rome Italy c.f.01312320680, p.Iva 049290810000 a company incorporated under the laws of Italy (hereinafter referred to as “Acraf”) 
  
 and 
  
 Threshold Pharmaceuticals, Inc., having its registered office at 951 Gateway Blvd., Ste. 3A, South San Francisco, CA 94080, USA, a company incorporated under the laws of
the State of Delaware of the United States (hereinafter referred to as “TH”) 
  
 Effective on the date of the last signature of this Agreement (hereinafter referred to as “Effective Date”). 
  
 Whereas 
  

	—	Acraf and TH are companies involved in the research, development and commercialization of pharmaceutical products; 

	—	Acraf owns the rights to the dossier for a tableted product containing 30 tablets per package, as previously approved in Italy, Austria, and Portugal for use as a single agent in
the treatment of brain, breast, prostate, and lung cancer (hereinafter referred to as the “Product”), each tablet containing 150 mg of the active ingredient Lonidamina (hereinafter referred to as the “Active
Ingredient”), such dossier including but not limited to all documents that have been or may in the future be filed or submitted to any regulatory authority anywhere in the world and communications to or from such Authorities in connection
with the Active Ingredient or Product, and information pertaining to the pre-clinical and clinical development of the Active Ingredient and Product, manufacturing processes for the Active Ingredient and finished Product, specifications, and
analytical and validation methods used by Acraf to manufacture the Active Ingredient and the Product (such documents and information collectively hereinafter referred to as the “Dossier”); 

	—	Acraf declares it has the sole and exclusive right to dispose of all the rights regarding the Dossier; 

	—	TH is willing to be granted by Acraf the right to use the Dossier as provided in Art.1.1 below for the purpose of facilitating TH’s efforts to develop and market products
equivalent to the Product as well as new unit dosage forms and other products containing the Active Ingredient (“TH Products”); 

	—	TH is willing to purchase a certain amount of Active Ingredient manufactured by Acraf to carry out one or more of the clinical studies required for the approval of TH Products,
which clinical studies include but are not limited to those studies contemplated by the development plan (hereinafter referred to as “Development Plan” or “DP”) as described in the Annex A to this Agreement
and those studies mentioned in the following 

  

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 Art.1.1. 
  
 Now, therefore, in consideration of the premises and 
 of the mutual covenants herein contained and of other good and valuable 
 consideration, the parties hereto agree as follows:

  

	1.	Subject 

	1.1	Acraf does hereby grant to TH, and TH does hereby accept: 

	 	i)	the co-exclusive rights of utilising the Dossier and its contents for obtaining marketing authorisations in the territory described in Annex C (hereinafter referred to as
“Acraf Territory”) for a TH Product equivalent to the Product previously marketed by Acraf in Italy and of conducting any additional studies TH determines in its sole discretion to undertake for modifying the Dossier if such studies
are requested by the Italian Health Authority or another health authority where the Dossier is now filed, such additional studies to be conducted only as TH deems appropriate and at its own costs and granting to Acraf the right to use any such
additional studies free of any charge solely in connection with obtaining additional regulatory approvals for use of the Product in Italy to treat the existing approved, and any new, cancer indications (hereinafter referred to as
“THL1”); for THL1, semi-exclusive rights means that in addition to TH, Acraf will have the right – with no limitation – to use and/or to grant to any third parties the same rights granted by Acraf to TH for THL1; THL1 also
includes Acraf’s agreement to provide TH such licenses or other documentation to enable TH to market as soon as possible after the expiry of the remaining stocks of Product on the market (which expiry occurs in [***]) a TH Product equivalent to
the Product or the Product itself; 

	 	ii)	the exclusive rights of utilising the Dossier and its contents for obtaining marketing authorisations of a TH Product equivalent to the Product in the territory described in Annex
B (hereinafter referred to as “TH Territory”) and of conducting any additional studies TH determines in its sole discretion to undertake for modifying or otherwise using the Dossier if requested by the relevant health
authority, such additional studies to be conducted at its own costs and granting to Acraf the right to use the results of such additional studies free of any charge only as necessary for compliance with the regulatory requirements to maintain the
marketing authorization to use the Product in Italy to treat cancer indications (hereinafter referred to as “THL2”); for THL2, exclusive rights means that in addition to TH no other company will have granted by Acraf any of the
rights granted to TH in respect of THL2; 

	 	iii)	the exclusive right of utilising the Dossier and its contents for carrying out clinical studies related to the anti-cancer activity of the Active Ingredient as set forth in the
DP (hereinafter referred to as “THL3”); 

	 	    	for THL3, exclusive rights means that in addition to TH no other company will have granted by Acraf any of the rights granted to TH 

  

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	 	    	in respect of THL3; and 

	 	iv)	the exclusive right of utilising the Dossier and its contents in the TH Territory and the Acraf Territory for 

	 	1)	writing a new registration dossier of one or more TH Products (hereinafter referred to as “New Dossier”); 

	 	2)	filing the New Dossier to obtain the relevant marketing authorisations in the TH Territory and the Acraf Territory (hereinafter referred to as “THL4”); for THL4,
exclusive rights means that in addition to TH no other company will have granted by Acraf any of the rights granted to TH in respect of THL4, such THL4 being subject to Acraf’s semi-exclusive rights set forth in Art.1.2.A, below;

	 	    	(THL1, 2, 3, and 4 hereinafter jointly referred to as “TH Licence”). 

	1.2	In consideration of the THL3 and 4 granted by Acraf to TH, TH does hereby: 

	 	A	grant to Acraf, and Acraf does hereby accept: 

	 	i)	the exclusive right, subject only to those held by TH and its sublicensees, which have co-extensive rights, to use the Results, as defined in the following Art.5.2, at the end of
the DP in the Acraf Territory for 

	 	1)	writing a dossier relating to the use of the Product or an equivalent TH Product for a cancer indication other than the indications for which the Product was approved prior to the
Effective Date; 

	 	2)	filing the resulting dossier to obtain any relevant marketing authorisations in the Acraf Territory; 

	 	ii)	in the event that the Results as defined in the following Art.5.2, shall be patentable, the exclusive right – free of any charge—to use the relevant Patent, as described
in the following Art.5.1.—in the Acraf Territory for the same purposes described in the previous Art.1.2.A.i) (hereinafter referred to as “Acraf Licence”); 

  

	 	Parties	agree that: 

	 	—	for the licence described in the previous Art.1.2.A.i), exclusive rights means that in addition to Acraf, only TH and its sublicensees will have the right to use the Results in
Acraf Territory according to the rights granted to TH by Acraf with respect to THL4; 

	 	—	for the licence described in the previous Art.1.2.A.ii), exclusive rights means that in addition to Acraf, in Acraf Territory no company other than TH and its sublicensees will have
the same rights granted pursuant to the licence described in the previous Art.1.2.A.ii); 

	 	B	 undertakes to offer to Acraf—for a period starting on the second anniversary of the Effective Date and lasting until 10 (ten) years after the date of the first
launch of the first TH Product—the right to provide [***] of all the Active Ingredient needed by TH at a price equal to or lower than the price which TH would otherwise be required to pay to a third party Active Ingredient manufacturer,
as notified in writing by TH to Acraf; provided, however, that if Acraf does not agree to the same price, timelines, terms and conditions offered by the third party manufacturer within [***] ([***]) days of receipt of the price,

  

 3 

	 	    	timelines, terms and conditions from TH, then this right shall lapse and TH shall be free, in its sole discretion, to purchase its Active Ingredient requirements from such third
party manufacturer or any other manufacturer without further notice to Acraf (hereinafter referred to as “Supply Right”) (Acraf Licence and Supply Right hereinafter jointly referred to as “Acraf Rights”).

	1.3	Parties agree that each shall have the right to sublicense their respective rights described in the previous Art.1.1 and 1.2 to third parties except as otherwise prohibited in this
Agreement. 

	1.4	Parties agree that the name of each sublicensee will have to be disclosed to the other Party and Parties declare and warrant that each sublicensee will satisfy any obligations
applicable to such sublicensee described in this Agreement. 

	1.5	Parties agree that the THL3 and 4 are considered as fair consideration for Acraf Rights, and Acraf Rights are considered as fair consideration for THL3 and 4, and that no other
payments shall be made by Acraf to TH or by TH to Acraf to use without limitation the rights granted each other pursuant to the above mentioned licences. 

	1.6	For having granted the THL 1 and 2, TH shall pay the following amount to Acraf upon the occurrence of the events specified below: 

	 	a)	a one-time payment of €300.000,00 (three-hundred thousand Euro) to be paid within [***] days of the Effective Date; 

	 	b)	a [***] payment of €[***] ([***] Euro) to be paid within [***] ([***]) days from the date of publishing of the Marketing Authorisation for
the first TH Product authorized for sale in the Acraf Territory; 

	 	c)	a [***] payment of €[***] ([***] Euro) to be paid within [***] ([***]) days from the date of publishing of the Marketing Authorisation for
the first TH Product authorized for sale in the TH Territory; 

	 	d)	a [***] payment of €[***] ([***] Euro) if and when the TH Net Sales (“TH Net Sales” means the sales of TH Products made by TH –
directly or through its sublicensees—at the prices invoiced to the customers less taxes relating to such sales, returns, cash and quantity discount granted to customers, such cash and quantity discounts limited to [***]% ([***]
per cent) made in the TH Territory) exceeds €50.000.000,00 (fifty million Euro)), to be paid within [***] ([***]) days after the date of notification of the relevant sales report as described in Art.1.7.b).

	 	e)	other than the payments required by Art.1.6.a, and the payments that may be required if the conditions of Art1.6.b-d are met, and the payment due upon Acraf’s fulfilment of its
obligation under Art.3, this Agreement does not impose any additional payment obligations on TH; thus, TH shall have no obligation under this Agreement to pay any amount in excess of [***] ([***] Euros) to Acraf during the term of this
Agreement or thereafter. 

	1.7	TH undertakes to report to Acraf: 

	 	a)	 the date on which all the marketing authorisation applications have been made and the date on which all the relevant Marketing Authorisations have been obtained in
Acraf Territory and in TH Territory according to what is provided in the previous Art.1.1. within 30 (thirty) days from the application date and from the date on which the above mentioned Marketing Authorisation have been 

  

 4 

 
obtained; 

	 	b)	within 30 (thirty) days from the end of each year period starting from January 1, 2005, the report of TH Net Sales for the calendar year then ended, such reporting obligation to
terminate upon the payment, if any, of the one-time payment described in Art.1.6.d. 

  

	2.	Development Plan 

	2.1	TH undertakes to use reasonable business efforts to complete the DP within sixty (60) months from the Effective Date of this Agreement (hereinafter referred to as
“DPTerm”). 

	2.2	TH shall be free to use the Dossier in connection with the TH Licence after TH makes the payment described in the Art.1.6.a). 

	2.3	After TH makes the payment described in the Art. 1.6.a), Acraf shall deliver to TH a copy of the Dossier in its possession. 

	2.4	TH shall keep Acraf informed on a regular and continual basis concerning the activities conducted by it pursuant to the DP. 

	2.5	Within twelve (12) months from the end of the DP, TH undertakes to notify Acraf in writing – with a registered letter – of the Results (hereinafter referred to as
“Notification”). 

	2.6	Any and all fees in conjunction with the assignment of the right to use the Dossier and with the carrying out of the DP shall be borne by TH. 

	2.7	The DP may be modified by TH only by written notification to Acraf and after written approval, which shall not be unreasonably withheld, by Acraf. 

  

	3.	Active Ingredient 

	3.1	Acraf undertakes to sell to TH an amount of Kg 22 (twenty-two] of Active Ingredient manufactured on [***] – with an expiry date on [***]—suitable for use in
TH Products as better described in the analytical document to be delivered as provided in the following Art.3.2 (hereinafter referred to as “Amount”). 

	3.2	The Amount shall be supplied by Acraf in bulk with all the relevant analytical documents updated to the Effective Date. 

	3.3	The delivery time from Acraf to TH shall not exceed 60 (sixty) days starting from the Effective Date of this Agreement. 

	3.4	Acraf undertakes to deliver the Amount ex works Acraf’s plant of Via Guardapasso 1, 04011 Aprilia (Latina). 

	3.5	The price of the Amount will be €75.000,00 (seventy five thousand/00) euros (hereinafter referred to as “Payment”) to be paid within 30 (thirty) days from the
invoice date. 

  

	4.	Duration 

	4.1	Parties agree that: 

	 	a)	the Acraf Licence shall commence on the Effective Date of this Agreement and shall extend for a term of 15 (fifteen) years after the date of first launch – directly by Acraf or
through any third party appointed as sublicensee by Acraf—of any Product that expires after November, 2004, in the Acraf Territory; 

  

 5 

	 	b)	the Supply Right shall commence on the second anniversary of the Effective Date and shall extend for a term of 10 (ten) years after the date of first launch – made directly by
TH or through any third party appointed as sublicensee by TH—of the first TH Product in the TH Territory and as provided in Art. 1.2B and 

	 	c)	the TH Licence shall commence on the Effective Date and shall extend for a term of 15 (fifteen) years after the date of first launch – directly by TH or through any third party
appointed as sublicensee by TH—of the first TH Product in the TH Territory. 

	4.2	Parties agree that at the end of the Acraf Licence and of the TH Licence, Acraf will remain owner and holder of all the marketing authorisations for the Product obtained by Acraf in
the Acraf Territory and TH will remain owner and holder of all the marketing authorisations for TH Products obtained by TH in the TH Territory and in the Acraf Territory. Any termination or expiration of this Agreement shall not act to divest a
Party of any interest in any regulatory filing or authorization made prior to the effective date of such termination or expiration. 

  

	5.	Results and Intellectual Property Rights 

	5.1	It is expressly agreed between the Parties that TH shall not acquire any intellectual property rights with respect to the Dossier other than the right described in the previous
Art.1.1 and elsewhere in this Agreement, and that TH shall have the ownership of the Results as defined in the following Art.5.2 and any patents relating to such Results (hereinafter referred to as “Patent”).

	5.2	Parties agree to define as “Results” all technical information, formulations, processes, know-how, data, specifications, characterization methods and results, and
other proprietary information, whether or not patented or patentable, only and exclusively related to the anti-cancer activity of the Active Ingredient obtained by TH in the clinical trials carried out pursuant to the DP. 

 

	6.	Confidentiality 

	6.1	Parties agree to define as “Confidential Information” all information exchanged by the parties relating to the Dossier, any modification thereof, any New Dossier,
DP, or otherwise provided to a Party under this Agreement. Parties agree that documents and information contained in the Dossier will be used by TH in seeking regulatory approval of TH Products and by Acraf in seeking additional regulatory approvals
of Product and so may enter the public domain as such additional indication is, or such TH Products are, approved. 

	6.2	Each of the Parties shall hold in confidence any and all Confidential Information disclosed to it by the other party before and during the term of this Agreement and shall not use
such Confidential Information except in accordance with the terms of this Agreement. 

	6.3	Neither party shall, without the prior written consent of the other party, disclose to any third party (except to regulatory authorities to obtain and maintain patents, product
registrations or other disclosures required by 

  

 6 

 
law) or use for its own purposes any Confidential Information of the other party except in connection with the development and registration of the Product
and TH Products. 

	6.4	The provisions of this Art.6 shall survive the expiry or termination of the Agreement until all of the Confidential Information has fallen within one of the exceptions set forth in
this Art.6. 

	6.5	The obligation of confidentiality under this Art.6 shall not apply to any data or information disclosed by one party to the other which: 

	 	6.5.1	at the time of the disclosure or thereafter is in or comes into the public domain by publication or otherwise, through no fault of either party; 

	 	6.5.2	is disclosed to the recipient by a third party having legal right to make such disclosure; 

	 	6.5.3	is previously known to the recipient at the date of disclosure; or 

	 	6.5.4	is required by law to be disclosed, provided that, except in connection with seeking regulatory approval for the Product and TH Products, the disclosing party furnishes the other
party with written notice that the data or information is proposed to be disclosed sufficiently in advance of the proposed disclosure so as to provide the other party with reasonable opportunity to seek to prevent the disclosure of or to obtain a
protective order for the data or information. 

	6.6	Further, each party shall be entitled to disclose any Confidential Information received by its responsible employees and officers, including any such employees and officers of any
of their Affiliates, on a “need-to-know-basis” for the proper performance of this Agreement and for the negotiation and performance of any licenses and sublicenses hereunder. 

	6.7	The parties shall impose at least the same degree of confidentiality on each such employee and officer or other recipient as is imposed upon the parties under this Agreement with
respect to confidential information, and shall be responsible to the disclosing party for any breaches of confidentiality made by such persons. 

  

	7.	Amendment 

 This Agreement may be amended
only by a written instrument signed by both Parties. 
  

	8.	Good Faith 

	8.1	Any provision of this Agreement that is held to be inoperative, unenforceable or invalid in any jurisdiction shall be inoperative, unenforceable or invalid in that
jurisdiction without affecting any other provision hereof in that jurisdiction or the operation, enforceability or validity of that provision in any other jurisdiction, and to this end the provisions hereof are declared to be severable.

	8.2	Subject to this, such provision will be renegotiated by the parties in such a way as to render the same lawful and to achieve, to the extent possible, the economic, business and
other intent of the original provisions. 

	8.3	Each party has considered this Agreement and it is the good faith belief of each party that the Agreement is in accordance with the national and 

  

 7 

 
supranational treaties, laws, rules and regulations applicable hereto. 

	9.	Force Majeure 

	9.1	In this Agreement, “Force Majeure” means an event or occurrence beyond the reasonable control of a party which by the exercise of reasonable diligence could not be
overcome, including, but not limited to, strikes, lock-outs, labour disruptions, acts of God, changes in the law, restraints of governments, riots, arrests of people, act of war, civil disturbances, rebellion or sabotage, fire, flood, lightning,
earthquake, epidemic, not caused by the act or omission of the party, any delay or failure by a governmental authority to issue any relevant permit or order not caused by the act or omission of the party. 

	9.2	A party shall be deemed not to be in default with respect to non-performance of any of its obligations under this Agreement, if and so long as such non-performance is due in
whole or in some material way to an event of Force Majeure and that party has used its commercially reasonable efforts to remove the event of Force Majeure and to perform its obligations under the Agreement. If an event of Force Majeure occurs, the
party affected shall promptly notify the other party of the occurrence of the event, its extent and probable duration and will use its best endeavors to overcome the difficulties created thereby and to resume performance of its obligations as soon
as practicable. 

	9.3	If a party’s failure to perform any of its obligations due to a Force Majeure has continued for thirty (30) days, unless within such period the non-performing party has begun
to substantially remedy its inability to perform, and will be in a position to fully resume its performance obligations within a further thirty (30) days thereafter, the other party may, if itself not in default under the Agreement, terminate this
Agreement by providing written notice to the non-performing party. In the event of such termination, both parties’ respective rights and obligations under this Agreement shall terminate except for vested rights and any amounts previously due
and owing by one party to the other and except for any other obligations which this Agreement expressly provides shall survive termination, or which should, by their nature, so survive. 

  

	10.	Communication 

	    	Any notice or request with reference to this Agreement shall be made by registered mail; return receipt requested and shall be directed by one party to the other at its respective
following address: 

  

					
	 	 	 —Acraf:
	  	Attn.to Maria Rita Luparini
P.le della Stazione snc, 00040 S.Palomba, Pomezia,
Rome, Italy
			
	 	 	 —TH:
	  	Attn. to Dr. George Tidmarsh, President
Threshold Pharmaceuticals, Inc.
951 Gateway Blvd., Suite 3A
South San Francisco, CA 94080 USA

  

 8 

	11.	Applicable Law and Jurisdiction 

	11.1	This Agreement shall be governed and construed in accordance with the laws of Delaware, U.S.A 

	11.2	In case the dispute cannot be settled amicably, the place of performance and venue for all disputes arising out of this contract will be London, England. 

 

	12.	Relationship of the Parties 

	12.1	The relationship between the parties created pursuant to this Agreement is intended to and shall be solely that of independent contractors. 

	12.2	Neither party, nor its employees, agents or representatives shall under any circumstances be considered employees, agents, partners, joint venturers or representatives of the other
party. 

	12.3	Neither party, nor their employees, agents or representatives shall act or attempt to act, or represent itself, directly or by implication, as an employee, agent, joint venturer,
partner or representative of the other party or in any manner assume or create, or attempt to assume or create, any obligation or liability of any kind, express or implied, on behalf of or in the name of the other party. 

  

	13.	Further Assurances 

	    	Each party will at any time and from time to time, upon the request of the other party, execute and deliver such further documents and do such further acts and things as the other
party may reasonably request to evidence, carry out and give full effect to the terms, conditions, intent and meaning of this Agreement. 

  

	14.	Entire Agreement, Waiver, Amendment. 

	14.1	This Agreement, together with Annexes A, B and C hereto, supersedes any prior agreements between the parties as to the subject matter of the Agreement, whether oral or in writing,
and contains the entire understanding between the parties as to the subject matter of the Agreement. 

	14.2	Any Confidential Information previously disclosed by the parties in respect of such subject matter shall now be subject to the confidentiality provisions hereof.

	14.3	No delay or failure on the part of a party in exercising any rights under this Agreement shall affect any of such party’s other rights. 

	14.4	This Agreement may not be modified or amended except by further instrument duly executed by the authorized representatives of both parties. 

	14.5	The preamble to this Agreement shall form an integral part of this Agreement and be binding on the parties hereto. 

  

	15.	Other provisions 

	15.1	Amendments and supplements to this Agreement must be made in writing in order to take effect. 

  

 9 

	15.2	Should a provision of this Agreement be or become legally ineffective or should a gap in the Agreement be ascertained, this shall not have an effect on the validity of the remaining
provisions. 

	15.3	A reasonable provision shall become valid which comes closest to the commercial aim of this Agreement and the intention of the parties as far as legally possible instead of the
ineffective provision or in order to fill in the gap. 

  

					
	 Aziende Chimiche Riunite
Angelini Francesco
Acraf S.p.a.
	  	 	  	        Threshold Pharmaceuticals, Inc.
	 	  	 	  	 
			
	 /s/ Walter Frosecchi
	  	 	  	/s/ George Tidmarsh
	 Date, 6/24/2004
	  	 	  	Date, 6/24/2004

  

 10 

 Annex A 
 Development
Plan 
  
 [***] trial 
 TH provided clinical trial funding to a recently completed trial of Product in combination with other anti-cancer agents at a site in Italy. Over the next six months,
this data will be analyzed to determine if the results warrant further clinical development for this indication. The Results will be shared under confidentiality with Acraf. 
  
 If an [***] trial is not pursued, TH contemplates undertaking either a trial in [***], a trial in
[***] and [***] or [***], as described below. 
  
 [***] trial 
 TH is evaluating whether to initiate clinical development of the Product or a TH Product in
certain [***] indications, including for [***] in [***] or [***]. The trial would be a [***] trial of no more than [***] patients [***], start in [***], and have a [***] duration.

 TH could use the Product or an equivalent TH Product in such a trial. 
  
 [***] trial 
 TH is evaluating
whether to initiate clinical development in [***] and [***] in [***], including for [***] and [***] in [***] with [***] or for [***] in [***]. The trial would be similar in timelines,
size, and duration as described above. TH could use the Product or an equivalent TH Product in such a trial. 
  

 11 

 Annex B 
 TH Territory

  
 TH Territory means all the countries of the world that are not in the Acraf
Territory 
  

 12 

 Annex C 
 Acraf
Territory 
  
 EU Members 
 Austria, 
 Belgium, 
 Cyprus, 
 Czech Republic, 
 Denmark, 
 Estonia, 
 Finland, 
 France, 
 Germany, 
 Greece, 
 Hungary, 
 Ireland, 
 Italy, 
 Latvia, 
 Lithuania, 
 Luxembourg, 
 Malta,

 Netherlands, 
 Poland, 
 Portugal 
 Slovakia, 
 Slovenia, 
 Spain, 
 Sweden, 
 United Kingdom 
  
 EEA Members 
 Iceland, 
 Liechtenstein, 
 Norway 
  
 Others 
 Bosnia-Herzegovina 
 Bulgaria 
 Croatia 
 Rep. of Macedonia 
 Romania 
 San Marino 
 Vatican 
 Yugoslavia 
 Armenia 
 Azerbajan 
 Belorussia 
 Georgia 
 Kazakhstan 
 Kirghizistan 
 Rep. of Moldova 
 Tadjikistan 
 Ukraina 
 Uzbekistan 
  

 13

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