Document:

Exhibit 10.2

AURORA PRE-EPC
AGREEMENT

This
AGREEMENT (“Agreement”) is made and entered into as of this 17th  day of
March, 2007, by and between Aventine Renewable Energy, Inc., a Delaware
corporation  (hereinafter “Owner”),
and Kiewit Energy Company (hereinafter, “Consultant” or “EPC Contractor”).  Owner, Consultant, and EPC Contractor may be
individually referred to herein as “Party” and collectively as “Parties”.

Owner is
developing a 113 denatured million gallon per year ethanol plant which is
proposed to utilize Delta-T technology, in Aurora, Nebraska (the “Project”).  Owner and Consultant are negotiating an
Engineering, Procurement and Construction contract (the “Aurora EPC Contract”)
pursuant to which Contractor would engineer and construct the Project.    For the avoidance of doubt, neither Party
shall be bound by or required to enter into the Aurora EPC Contract until the
definitive Aurora EPC Contract has been agreed and fully executed by each
Party.

However, to expedite the performance of certain tasks
related to the design and construction of the Project, Owner desires to retain
Consultant, and Consultant desires to be retained, to perform certain advance
engineering, design, and construction services in connection with the Project,
all as and to the extent described below.

1.0                                 Engagement
of Services. Owner hereby retains Consultant to perform design,
engineering, estimating, scheduling, and other professional services (“Services”)
identified in Exhibit A (“Scope of Work”) attached hereto.  The Services may be modified or amended from
time to time upon mutual agreement of the Parties and may be described in one
or more additional Exhibits. If such modifications or amendments necessitate an
increase or decrease in either (a) the amount due or (b) the time required for
performance, such matters shall be agreed upon in writing prior to proceeding
with the change.  No payment shall be
made by Owner for any modification not so directed or authorized prior to
proceeding with the modification. 
Consultant shall perform, or cause to be performed, all such Services in
accordance with all applicable laws, rules and regulations and in accordance
with good industry practices.

2.0                                 Compensation.
In consideration for completion of the Services, Owner shall pay Consultant as
specified in Section 3.0, the aggregate amount not to exceed Eleven Million
Nine Hundred Eighty Six Thousand Seventy Eight Dollars ($11,986,078) (“Fee”).  The Fee shall be increased or decreased
according to modifications and amendments agreed to as provided herein.

3.0                                 Terms
of Payment.    Consultant shall
invoice Owner on or about the thirtieth (30th) of each month, for hours actually worked, in
accordance with Exhibit A.  Owner shall
pay Consultant the full amount of such invoice, on or before the fifteenth (15th) of the month following the
period for which the invoice was provided.

4.0                                 Effective
Date.  This Agreement shall become
effective upon the date of its execution.

5.0                                 Consultant
an Independent Contractor. 
Consultant shall be an independent contractor with respect to the
Services to be performed hereunder. 
Neither Contractor nor its subcontractors or vendors, nor the employees
of either, shall be deemed to be the servants or employees of Owner.

                                                                                                                                                                                                                                                          

6.0                                 Confidential
Information.  Confidential Information
shall be governed by the confidentiality agreement currently in place between
Owner and Consultant.

7.0                                 Survival.  The rights and obligations contained in
Section 6 (“Confidential Information”) shall survive any termination or
expiration of this Agreement.

8.0                                 Successors
and Assigns.  Except as otherwise
expressly stated herein, Consultant may not subcontract or otherwise delegate
or assign its obligations under this Agreement to third parties (other than
Consultant’s affiliates, which subcontracting, delegation and/or assignment to
Consultant’s affiliates shall not relieve Consultant of its obligations
hereunder) without Owner’s prior written consent.  Subject to the foregoing, this Agreement
shall be for the benefit of Owner’s successors and assigns, and shall be
binding on Consultant’s assignees.

9.0                                 Notices.  Any notice required or permitted by this
Agreement shall be in writing and shall be delivered as follows with notice
deemed given as indicated:  (i) by
personal delivery when delivered personally; (ii) by overnight courier
upon written verification of receipt; (iii) by telecopy or facsimile
transmission upon acknowledgment of receipt of electronic transmission; or
(iv) by certified or registered mail, return receipt requested, upon
verification of receipt.  Notice shall be
sent to the Parties at the addresses set forth below or such other address as
either Party may specify in writing.

If to Owner:

Aventine Renewable Energy, Inc.

1300 South 2nd Street 

Pekin, IL 61554 

Phone:  (309) 347 - 9714

Fax:  (309) 478 - 1542 

Attention: Jeffrey A. Moery

If to Consultant:

Kiewit Energy Company

7906 North Sam Houston Parkway West, Suite 300

Houston, TX 77064

Attn: Brad Kaufman

Phone:  (281) 517-8900

Fax:  (281) 517-8909

10.0                           Governing
Law.  This Agreement shall be
governed in all respects by the laws of the United States of America and by the
laws of the State of New York (excluding New York’s body of law controlling
conflicts of laws and excluding 5-323 of the New York General Obligations Law).

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11.0                           Severability.  Should any provisions of this Agreement be
held by a court of law to be illegal, invalid or unenforceable, the legality,
validity and enforceability of the remaining provisions of this Agreement shall
not be affected or impaired thereby.

12.0                           Waiver.  The waiver by either Party of any provision
of this Agreement shall not operate to be construed as a waiver of any other
provision by such Party.

13.0                           
Aurora EPC Contract.  If and when a
definitive Aurora EPC Contract is executed, the Services provided and payments
made hereunder shall be considered to be work provided and advance payments
under the Aurora EPC Contract.  In
addition, upon Owner’s release of the Notice to Proceed (NTP) under such Aurora
EPC Contract, this Agreement shall automatically terminate in its
entirety.  In the event of such
termination of this Agreement, the Aurora EPC Contract shall govern all
Services previously performed and to have been performed, as well as all of the
Parties rights and obligations with respect to such Services.

14.0                         Third Party Guarantees.  If any of the Services requires the purchase
of equipment or materials or the procurement of services, Consultant shall, for
the protection of Owner, demand from all vendors and subcontractors guarantees,
warranties, indemnities and/or insurance coverage (collectively “Guarantees”)
with respect to such equipment, materials and services, which shall be made
available to Owner to the full extent of the terms thereof.  Consultant’s liability with respect to such
equipment and materials obtained from vendors or services from subcontractors
shall, except for Consultant’s obligations to pay such vendors or
subcontractors, be limited to procuring such Guarantees from such vendors or
subcontractor and rendering all reasonable assistance to Owner as part of the
Services for the purpose of enforcing the same, which may include, without
limitation, enforcing such Guarantees, at Owner’s expense, if such Guarantees
are not assignable to Owner.

15.0                           Limitation
of Liability.  NEITHER OWNER NOR CONSULTANT NOR THEIR RESPECTIVE
RELATED COMPANIES, AND SUBCONTRACTORS SHALL BE LIABLE FOR SPECIAL, INDIRECT OR
CONSEQUENTIAL DAMAGES IN CONNECTION WITH THIS AGREEMENT.  Consultant’s total liability to Owner for all claims, losses and damages
resulting in any way from this Agreement and the performance of the Services
shall not exceed the amount that Owner
actually paid to Consultant under this Agreement.  For the avoidance of doubt, the foregoing
limitations of liability do not excuse Consultant’s obligation under the last
sentence of Section 14 to render all reasonable assistance to Owner for the
purpose of enforcing the Guarantees.  The
limitations, indemnities, waivers and release from liability expressed in this
Agreement shall apply regardless of the basis of liability, including without
limitation, contract, warranty, negligence or other fault, or strict liability;
provided, however, such limitations and releases shall only be effective to the
maximum extent allowed by law.  Owner represents that, prior to
commencement of any Services at a project site, it will obtain a release and
waiver of damages in accordance with the foregoing from any affiliated company
that owns or controls the project site. Owner
and Consultant waive, and each shall cause its respective insurance carriers in
Owner’s and Consultant’s 

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Corporate Excess Liability program, as applicable, to
waive, all rights of subrogation against each other with respect to the
insurance in such programs.  If and when
a definitive Aurora EPC Contract is executed, the definitive Aurora EPC
Contract (or any relevant agreement executed in connection therewith) shall
thereafter govern the Parties’ respective limitations on liabilities in
connection with the Services and this Agreement.

16.0                           Disputes.  In the event of any litigation to enforce or
interpret any terms or conditions of this Agreement, the Parties agree that
such appropriate action shall be submitted to the jurisdiction of the federal
or state courts located in Nebraska, to the exclusion of any and all other
courts, forums, venues, and the Parties waive any and all right to contest the
exclusivity of such forum, including any rights based upon the doctrine of
forum non conveniens.  In the event either
Party institutes suit in court against the other Party or against the surety of
such Party, in connection with any dispute or matter arising under this
Agreement, the prevailing Party shall be entitled to recover all costs,
expenses and attorneys’ fees, in addition to any other relief granted by the
court or arbitrator(s).  Both Parties
hereby waive any and all rights to a trial by jury. In no event shall the
litigation of any controversy or the settlement thereof delay the performance
of this Agreement.

17.0                           Records
and Audits.  Owner shall have the right to audit and inspect Consultant’s
records and accounts covering costs hereunder and Services provided hereunder
at all reasonable times during the course of the Services and for a period of
twelve (12) months after completion of the Services; provided, however, the
purpose of any such audit shall be only for verification of such costs and such
Services.  Consultant shall not be
required to keep records of or provide access to costs covered by any fixed
fee, unit rates or amounts expressed in terms of percentages of other costs.

18.0                           Early
Termination.  Owner shall have the
right to terminate this Agreement at any time upon prior written notice to
Consultant.  In the event of such
termination, Owner shall pay Consultant for all Services performed and all
payment obligations undertaken in Owner’s behalf, including
breakage/cancellation charges required in subcontracts, prior to the date of
such termination.

19.0                           Entire
Agreement. This Agreement constitutes the entire agreement between the
Parties hereto and supersedes any oral or written representation,
understandings, proposals, or communications heretofore entered into by or on
account of the Parties with respect to the subject matter hereof and may not be
changed, modified, or amended except in writing signed by the Parties
hereto.  The provisions of this Agreement
are intended for the sole benefit of Consultant and Owner and their respective permitted successors and assigns, and
each of Consultant’s subcontractors, vendors and others to the extent expressly
provided in this Agreement.

20.0                       Execution in Counterparts.  This Agreement may
be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same
instrument.

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IN WITNESS
WHEREOF, the Parties have executed this Agreement as of the date first written
below.

	
  “Owner”

  	
   

  	
  “Consultant”

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Aventine
  Renewable Inc.

  	
   

  	
  Kiewit Energy Company

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ 

  	
  Ronald H. Miller

  	
   

  	
  By:

  	
  /s/ 

  	
  Bradley J. Kaufman

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Name:

  	
  Ronald H. Miller

  	
   

  	
  Name:

  	
  Brad Kaufman

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title:

  	
  President and
  CEO

  	
   

  	
  Title:

  	
  President

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
  3/17/07

  	
   

  	
  Date:

  	
  3/12/07

  	
   

  	
   

  	
   

  	
   

  

 

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Exhibit A

The confidential
information has been omitted and filed separately with the Securities and
Exchange Commission.

 6Exhibit 10.1

PONIARD
PHARMACEUTICALS, INC.

INDEMNIFICATION
AGREEMENT

This Indemnification Agreement (this “Agreement”), dated as of May 4,
2007, is entered into by and between Poniard Pharmaceuticals, Inc., a
Washington corporation (the “Company”),
and Robert S. Basso (“lndemnitee”).

RECITALS

A.                                   The Company and lndemnitee recognize the
litigation risks inherent in service as a director and/or officer of a publicly
traded company, including the substantial costs involved in defending such
matters.

B.                                     The Company’s articles of incorporation (the “Articles”) and bylaws (the “Bylaws”) contain certain provisions,
approved by the Company’s shareholders, for indemnification of the Company’s
directors and/or officers to the full extent permitted by the Washington Business
Corporation Act (the “Statute”).

C.                                     The Articles, the Bylaws and the Statute
specifically provide that they are not exclusive, and contemplate that
contracts may be entered into between the Company and its directors and/or
officers with respect to indemnification.

D.                                    The lndemnitee has indicated a desire to
supplement the indemnification provisions in the Articles and Bylaws to provide
additional protections against the risks associated with his service to the
Company and further clarify his rights with respect to indemnification in
certain circumstances.

E.                                      To induce Indemnitee to accept the position or
continue service as a director and/or officer of the Company, the
Company and the Indemnitee now agree that they should enter into this
Indemnification Agreement.

AGREEMENT

1.                                      Indemnification of Indemnitee

1.1                               Scope

Subject
to Section 4.1 and all other terms and conditions of this Agreement, the
Company agrees to indemnify and hold harmless Indemnitee, to the full extent
permitted by law, whether or not specifically authorized by this Agreement, the
Articles, the Bylaws, the Statute or otherwise, for any Indemnifiable
Losses (as defined below) which the Indemnitee is or becomes legally obligated
to pay in connection with any Proceeding.  In the event of any change, after the date of
this Agreement, in any applicable law, statute or rule regarding the right of a
Washington corporation to indemnify a director and/or officer, such changes, to
the extent that they would expand Indemnitee’s indemnification rights, shall be
within the purview of Indemnitee’s rights and the Company’s obligations under
this Agreement, and, to the extent that they would narrow Indemnitee’s
indemnification rights, shall not affect or limit the scope of this Agreement;
provided, however, that 

any change that is required by applicable laws, statutes or rules to be
applied to this Agreement shall be so applied regardless of whether the effect
of such change is to narrow Indemnitee’s rights.

1.2                               Nonexclusivity

The indemnification provided by this Agreement is not
exclusive of any rights to which Indemnitee may be entitled under the Articles,
the Bylaws, any other agreement, any vote of shareholders or disinterested
directors, the Statute, or otherwise, whether as to action in Indemnitee’s
official capacity or otherwise.

1.3                               Definition of Indemnifiable Losses

For purposes of this Agreement, the term “Indemnifiable Losses” shall include
(without limitation) any and all damages (compensatory, exemplary, punitive or otherwise), judgments, fines,
penalties, settlements, costs, attorneys’ fees and disbursements, costs of
attachment or similar bonds, investigations, expenses of establishing a right
to indemnification under this Agreement, and any other losses, claims, liabilities or other expenses incurred in connection with
a Proceeding, subject to the limitations set forth in Section 4.1 below.

1.4                               Definition of Proceeding

For purposes of this Agreement, the term “Proceeding” shall include (without
limitation) any threatened, pending or completed claim, action, suit or
proceeding, whether brought by or in the right of the Company or otherwise, and
whether of a civil, criminal, administrative or investigative nature, in which
the Indemnitee may be or may have been involved as a party or otherwise
(including without limitation as a witness), (a) by reason of the fact that
Indemnitee is or was, or has agreed to become, a director and/or officer of the
Company, (b) by reason of any actual or alleged error or misstatement or
misleading statement made or suffered by the Indemnitee, (c) by reason of any
action taken by Indemnitee or of any inaction on Indemnitee’s part while acting
as such director and/or officer, or (d) by reason of the fact that Indemnitee
was serving at the request of the Company as a director, trustee, officer,
employee or agent of the Company or another corporation, partnership, joint
venture, trust or other enterprise
(including without limitation employee benefit plans and administrative
committees thereof) (which request will be conclusively presumed in the
case of any of the foregoing that are “affiliates” of the Company as defined in
Rule 12b-2 under the Securities Exchange Act of 1934, as amended); provided, however, that, except with respect to
an action to enforce the provisions of this Agreement, the term “Proceeding”
shall not include any action, suit, claim or proceeding instituted by or at the
direction of Indemnitee unless such action, suit, claim or proceeding is or was
authorized or ratified by the Company’s Board of Directors.

1.5                               Determination of Entitlement

In
the event that a determination of Indemnitee’s entitlement to indemnification
is required pursuant to Section 23B.08.550 of the Statute or its successor
or pursuant to other applicable law, the party specified therein as the
determining party shall make such determination; provided, however,
(a) that Indemnitee shall initially be presumed in all cases to be
entitled to indemnification, (b) that Indemnitee may establish a
conclusive presumption of any fact necessary to such a determination by
delivering to the Company a declaration made under penalty of perjury that such
fact is true and (c) that, unless the Company shall deliver to Indemnitee
written notice of a determination that Indemnitee is not entitled to indemnification
within twenty (20) days of the Company’s receipt of 

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Indemnitee’s initial written request for indemnification, such
determination shall conclusively be deemed to have been made in favor of the
Company’s provision of indemnification and Company agrees not to assert
otherwise.

1.6                               Survival

The indemnification provided under this Agreement shall
apply to any and all Proceedings, notwithstanding that Indemnitee has ceased to
serve in a capacity referred to in Section 1.4(a)-(d).

2.                                      Expense Advances

2.1                               Generally

The right to indemnification for Indemnifiable Losses
conferred by Section 1 shall include the right to have the Company pay
Indemnitee’s expenses in any Proceeding as such expenses are incurred and in
advance of such Proceeding’s final disposition (such right is referred to
hereinafter as an “Expense Advance”), subject to
Sections 2.2, 4 and 5 and all other terms and conditions of this Agreement.

2.2                               Conditions to Expense Advance

The Company’s obligation to provide an Expense Advance
is subject to (a) Indemnitee or his representative having first executed and
delivered to the Company an undertaking, which need not be secured and shall be
accepted without reference to Indemnitee’s financial ability to make repayment,
by or on behalf of Indemnitee to repay all Expense Advances if and to the
extent that it shall ultimately be determined by a final, unappealable decision
rendered by a court having jurisdiction over the parties and the subject matter
of the dispute that Indemnitee is not entitled to be indemnified under this
Agreement or otherwise; and (b) Indemnitee furnishing, upon request by the
Company and if required under applicable law, a written affirmation of
Indemnitee’s good faith belief that Indemnitee has met any applicable standards
of conduct.

2.3                               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 the 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.

3.                                      Procedures for Enforcement

3.1                               Enforcement

In the event that a claim for indemnification hereunder
is made and is not paid in full within sixty days after written notice of such
claim has been received by the Company, except in the case of a claim for
advance expenses, in which case the applicable period shall be twenty days,
Indemnitee may, but need not, at any time bring suit against the Company to
recover the unpaid amount of the claim (an “Enforcement
Action”), subject to all other terms, conditions and limitations
of this Agreement.

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3.2                               Presumptions in Enforcement Action

In any Enforcement Action the following presumptions
(and limitation on presumptions) shall apply:

(a)                                  The Company shall conclusively be presumed to
have entered into this Agreement and assumed the obligations imposed on it to
induce Indemnitee to accept the position of, or to continue as a director
and/or officer of the Company; and

(b)                                 Neither (i) the failure of the Company
(including its Board of Directors, independent or special legal counsel or the
Company’s shareholders) to have made a determination prior to the commencement
of the Enforcement Action that indemnification of Indemnitee is proper in the
circumstances nor (ii) an actual determination by the Company, its Board
of Directors, independent or special legal counsel or the shareholders that
Indemnitee is not entitled to indemnification shall be a defense to the
Enforcement Action or create a presumption that Indemnitee is not entitled to
indemnification.

3.3          Attorneys’ Fees and Expenses for
Enforcement Action

The Company shall indemnify and hold harmless Indemnitee
against all of Indemnitee’s reasonable fees and expenses in bringing and
pursuing any Enforcement Action (including reasonable attorneys’ fees at any
stage, including on appeal); provided, however, that the Company shall not be
required to provide such indemnity (a) if a court of competent jurisdiction
determines that all the material assertions made by Indemnitee in such
Enforcement Action were not made in good faith or were frivolous or (b) to the
extent limited under Section 4.1 below.

4.                                      Limitations

4.1                               Limitation on Indemnity

Notwithstanding any other provision of this Agreement,
the Company shall not be obligated to provide indemnification pursuant to this
Agreement:

(a)                                  on account of any suit in which a final,
unappealable decision is rendered by a court having jurisdiction over the
parties and the subject matter of the dispute for an accounting of profits made
from the purchase or sale by Indemnitee of securities of the Company in
violation of the provisions of Section 16(b) of the Securities Exchange
Act of 1934 and amendments thereto;

(b)                                 for Indemnifiable Losses that have been paid
directly to Indemnitee by an insurance carrier under a policy of insurance
maintained by the Company;

(c)                                  on account of Indemnitee’s conduct which is
finally adjudged with no further right of appeal to have been intentional
misconduct, a knowing violation of law, a violation of RCW 23B.08.310 or
any successor provision of the Statute, or a transaction from which Indemnitee
derived personal benefit in money, property or services to which Indemnitee was
not legally entitled;

(d)                                 to
the extent that the Indemnitee is indemnified and actually paid otherwise than
pursuant to this Agreement;

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(e)                                  if a final, unappealable decision is rendered by
a court having jurisdiction over the parties and the subject matter of the
dispute finding that paying such indemnification is prohibited by applicable
law;

(f)                                    to the extent that attorneys’ fees, costs and
disbursements, or similar expenses, that otherwise would constitute
Indemnifiable Losses hereunder are determined to be unreasonable by a final,
unappealable decision rendered by a court having jurisdiction over the parties
and the subject matter of the dispute, provided that the burden of proof that
any Indemnifiable Losses are unreasonable shall be on the Company; or

(g)                                 to the extent such Indemnifiable Losses have been
incurred by Indemnitee in violation of the terms of Section 5 below.

4.2          Partial Indemnification

If Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for some or a portion of any
Indemnifiable Losses in connection with a Proceeding, but not, however, for the
total amount thereof, the Company shall nevertheless indemnify Indemnitee for
the portion of such Indemnifiable Losses to which Indemnitee is entitled.

4.3          Mutual Acknowledgment

The Company and Indemnitee acknowledge that, in certain
instances, federal law or public policy may override applicable state law and
prohibit the Company from indemnifying Indemnitee under this Agreement or
otherwise.  For example, the Company and
Indemnitee acknowledge that the Securities and Exchange Commission has taken
the position that indemnification is not permissible for liabilities arising
under certain federal securities laws, and federal legislation prohibits
indemnification for certain ERISA violations. 
Furthermore, 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.

5.                                      Notification and Defense of Claim

5.1                               Notification

Promptly after receipt by Indemnitee of notice of the
commencement of any Proceeding, Indemnitee will, if a claim is to be made
against the Company under this Agreement, notify an officer of the Company in
writing of the nature and status of the Proceeding; provided, however, that the
omission so to notify an officer of the Company will not relieve the Company
from any obligation which it may have to Indemnitee under this Agreement or
otherwise unless and only to the extent that such omission can be shown to have
prejudiced the Company.

If,
at the time of the receipt of a notice of a claim pursuant to this
Section 5.1, 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 (unless the Indemnitee’s involvement in such Proceeding is
solely as a witness or there is otherwise no basis for asserting
coverage).  The Company shall take all
necessary action to 

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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.

5.2                               Defense of Claim

With respect to any such Proceeding as to which Indemnitee notifies the
Company of the commencement thereof or otherwise seeks indemnification
hereunder:

(a)                                  The Company may participate at its own expense in
such Proceeding;

(b)                                 The Company, jointly with any other indemnifying
party similarly notified, may assume the defense of the Proceeding with counsel
reasonably satisfactory to Indemnitee. 
After notice from the Company to Indemnitee of its election to assume
the defense, the Company shall not be liable to Indemnitee under this Agreement
or otherwise for any legal or other expenses of counsel (other than reasonable
costs of investigation) subsequently incurred by Indemnitee in connection with
the defense of such Proceeding, unless (i) the employment of counsel by
Indemnitee has been authorized in advance by the Company in writing,
(ii) Indemnitee shall have reasonably concluded that there may be a
conflict of interest between the Company and Indemnitee in the conduct of the
defense of such action and notified the Company in writing to that effect in
advance of the expense, (iii) the Company shall not in fact have employed
counsel to assume the defense of such action, or (iv) the Company is not
financially or legally able to perform its indemnification obligations, in each
of which cases the fees and expenses of counsel shall be at the expense of the
Company.  The Company shall not be
entitled to assume the defense of any action, suit or proceeding brought by or
on behalf of the Company or as to which Indemnitee shall have made the
conclusion provided for in (ii) or (iv) above;

(c)                                  The Company shall not settle any action or claim
in any manner which would impose any penalty or limitation on Indemnitee that
would not be an Indemnifiable Loss hereunder for which indemnification would be
provided by the Company without Indemnitee’s written consent.

6.                                      Miscellaneous

6.1                               Entire Agreement

This Agreement is the entire agreement of the parties
regarding its subject matter and supersedes all prior written or oral
communications or agreements.

6.2          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.  If this Agreement or any
portion 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 portion of this Agreement not invalidated, and the
balance of this Agreement shall be enforceable in accordance with its terms.

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6.3          Notices

Notices given pursuant to this Agreement shall be deemed
duly given on the date of personal delivery, on the date sent by fax or three days
after mailing if mailed by certified or registered mail, return receipt
requested, postage prepaid, to the party at its address below or such other
address of which the addressee may subsequently notify the other parties in
writing.

6.4          Governing Law

This Agreement and the rights and obligations of the
parties shall be governed by and construed in accordance with the laws of the
state of Washington, without giving effect to principles of conflicts of law.

6.5          Counterparts

This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one instrument.

6.6          Amendments; Waivers

Neither this Agreement nor any provision may be amended
except by written agreement signed by the parties.  No waiver of any breach or default shall be
considered valid unless in writing, and no such waiver shall be deemed a waiver
of any subsequent breach or default.

6.7          Successors and Assigns

This Agreement shall be binding upon the Company and its
successors (including, without limitation, any direct or indirect successors by
purchase, merger, consolidation or otherwise to all or substantially all of the
business and assets of the Company) and assigns, and inure to the benefit of
Indemnitee and Indemnitee’s heirs, legal representatives and assigns.

(Signature
page follows)

 7
 

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

	
  

  	
   

  	
  COMPANY:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  PONIARD PHARMACEUTICALS,
  INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By: 

  	
  /s/ Gerald McMahon

  	
   

  
	
   

  	
   

  	
   

  	
  Its Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Address: 

  	
  7000 Shoreline Court, Suite
  270

  
	
   

  	
   

  	
   

  	
  South San Francisco, CA 94080

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  INDEMNITEE:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Robert S. Basso

  	
   

  
	
   

  	
   

  	
  Robert S. Basso

  
							

 

 8

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