Document:

Unassociated Document

    GUARANTY

     

    GUARANTY
      (the
      “Guaranty”), dated as of September 26, 2007, by
      Duska
      Scientific Co., a Delaware corporation with an address of Duska Therapeutics,
      Inc., Two Bala Plaza, Suite 300, Bala Cynwyd, PA (the
      “Guarantor”), in favor of the Purchasers identified in the Purchase Agreement
      (as defined below) (collectively, “Secured Parties”). 

    

    WHEREAS,
      the Guarantor is a subsidiary or affiliate of Duska Therapeutics,
      Inc.
      (the
“Borrower”);
      and

    

    WHEREAS,
      in accordance with a certain senior secured convertible note, dated as of the
      date hereof (the “Notes”), executed by the Borrower, and certain related
      agreements between the Borrower and the Secured Parties (collectively, as
      amended, restated, or extended from time to time, the “Loan Documents”), the
      Secured Parties have agreed to loan to the Borrower up to Six Million Five
      Hundred Thousand Dollars ($6,500,000) (the “Loan”); and

    

    WHEREAS,
      the Secured Parties’ willingness to extend the loan is conditioned upon the
      Guarantor executing and delivering this Guaranty; and

    

    WHEREAS,
      the aforesaid Loan will be beneficial to the Guarantor inasmuch as the proceeds
      of the Loan to the Borrower will indirectly benefit the Guarantor;

    

    NOW,
      THEREFORE, in order to induce the Secured Parties to make the Loan to the
      Borrower pursuant to the Loan Documents, and for other good and valuable
      consideration, the receipt and sufficiency of which is hereby acknowledged
      by
      the Guarantor, the Guarantor hereby agrees as follows:

    

    1.
       Guaranty
      of Payment and Performance. The
      Guarantor hereby guarantees to the Secured Parties the full and punctual payment
      when due (whether at maturity, by acceleration or otherwise), and the
      performance, of all liabilities, agreements and other obligations of the
      Borrower to the Secured Parties, whether direct or indirect, absolute or
      contingent, due or to become due, secured or unsecured, now existing or
      hereafter arising or acquired (whether by way of discount, letter of credit,
      lease, loan, overdraft or otherwise), including without limitation all
      obligations under the Note (collectively, the “Obligations”). This Guaranty is
      an absolute, unconditional and continuing guaranty of the full and punctual
      payment and performance of the Obligations and not of their collectibility
      only
      and is in no way conditioned upon any requirement that the Secured Parties
      first
      attempt to collect any of the Obligations from the Borrower or resort to any
      security or other means of obtaining their payment. Should the Borrower default
      in the payment or performance of any of the Obligations, the obligations of
      the
      Guarantor hereunder shall become immediately due and payable to the Secured
      Parties, without demand or notice of any nature, all of which are expressly
      waived by the Guarantor. Payments by the Guarantor hereunder may be required
      by
      the Secured Parties on any number of occasions. 

    

    2.
       Guarantor’s
      Agreement to Pay. The
      Guarantor further agrees, as the principal obligor and not as a guarantor only,
      to pay to the Secured Parties, on demand, all reasonable costs and expenses
      (including court costs and reasonable legal expenses) incurred or expended
      by
      the Secured Parties in connection with enforcement of this Guaranty, together
      with interest on amounts recoverable under this Guaranty from the time such
      amounts become due under this Guaranty until payment, at the rate per annum
      equal to the default rate set forth in the Note; provided that if such interest
      exceeds the maximum amount permitted to be paid under applicable law, then
      such
      interest shall be reduced to such maximum permitted amount.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    3. Unlimited
      Guaranty. The
      liability of the Guarantor hereunder shall be unlimited to the extent of the
      Obligations and the other obligations of the Guarantor hereunder (including,
      without limitation, under Section 2 above). 

    

    4. Waivers
      by Guarantor; Secured Party’s Freedom to Act. The
      Guarantor agrees that the Obligations will be paid and performed strictly in
      accordance with their respective terms regardless of any law, regulation or
      order now or hereafter in effect in any jurisdiction affecting any of such
      terms
      or the rights of the Secured Parties with respect thereto. The Guarantor waives
      presentment, demand, protest, notice of acceptance, notice of Obligations
      incurred and all other notices of any kind, all defenses which may be available
      to Borrower by virtue of any valuation, stay, moratorium law or other similar
      law now or hereafter in effect, any right to require the marshalling of assets
      of the Borrower, and all suretyship defenses generally. Without limiting the
      generality of the foregoing, the Guarantor agrees to the provisions of any
      instrument evidencing, securing or otherwise executed in connection with any
      Obligation and agrees that the obligations of the Guarantor hereunder shall
      not
      be released or discharged, in whole or in part, or otherwise affected by
      (i) the
      failure of any Secured Party to assert any claim or demand or to enforce any
      right or remedy against the Borrower; (ii) any
      extensions or renewals of any Obligation; (iii) any
      rescissions, waivers, amendments or modifications of any of the terms or
      provisions of any agreement evidencing, securing or otherwise executed in
      connection with any Obligation (provided, that, the obligations of the Guarantor
      hereunder shall be appropriately modified to reflect any amendment or
      modification of the Obligations); (iv) the
      substitution or release of any entity primarily or secondarily liable for any
      Obligation; (v) the
      adequacy of any rights any Secured Party may have against any collateral or
      other means of obtaining repayment of the Obligations; (vi) the
      impairment of any collateral securing the Obligations, including without
      limitation the failure to perfect or preserve any rights a Secured Party might
      have in such collateral or the substitution, exchange, surrender, release,
      loss
      or destruction of any such collateral; or (vii) any
      other act or omission which might in any manner or to any extent vary the risk
      of the Guarantor or otherwise operate as a release or discharge of any other
      guarantor, all of which may be done without notice to the
      Guarantor.

    

    5. Unenforceability
      of Obligations Against Borrower.
      If for
      any reason the Borrower has no legal existence or is under no legal obligation
      to discharge any of the Obligations, or if any of the Obligations have become
      irrecoverable from the Borrower by operation of law or for any other reason,
      this Guaranty shall nevertheless be binding on the Guarantor to the same extent
      as if the Guarantor at all times had been the principal obligor on all such
      Obligations. In the event that acceleration of the time for payment of the
      Obligations is stayed upon the insolvency, bankruptcy or reorganization of
      the
      Borrower, or for any other reason, all such amounts otherwise subject to
      acceleration under the terms of any agreement evidencing, securing or otherwise
      executed in connection with any Obligation shall be immediately due and payable
      by the Guarantor.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    6. Subrogation;
      Subordination.
      Until
      the payment and performance in full of all Obligations, the Guarantor shall
      not
      exercise any rights against the Borrower arising as a result of payment by
      any
      Guarantor hereunder, by way of subrogation or otherwise, and will not prove
      any
      claim in competition with any Secured Party or its affiliates in respect of
      any
      payment hereunder in bankruptcy or insolvency proceedings of any nature; the
      Guarantor will not claim any set-off or counterclaim against the Borrower in
      respect of any liability of the Guarantor to the Borrower; and the Guarantor
      waives any benefit of and any right to participate in any collateral which
      may
      be held by any Secured Party. The payment of any amounts due with respect to
      any
      indebtedness of the Borrower now or hereafter held by the Guarantor is hereby
      subordinated to the prior payment in full of the Obligations. The Guarantor
      agrees that after the occurrence of any default in the payment or performance
      of
      the Obligations, after the expiration of any applicable cure period, it will
      not
      demand, sue for or otherwise attempt to collect after such time any such
      indebtedness of the Borrower to the Guarantor until the Obligations shall have
      been paid in full. If, notwithstanding the foregoing sentence, the Guarantor
      shall collect, enforce or receive any amounts in respect of such indebtedness,
      such amounts shall be collected, enforced and received by the Guarantor as
      trustee for the Secured Parties and be paid over to the Secured Parties on
      account of the Obligations without affecting in any manner the liability of
      the
      Guarantor under the other provisions of this Guaranty.

    

    7. Further
      Assurances.
      The
      Guarantor agrees to do all such things and execute all such documents, as a
      Secured Party may consider reasonably necessary or desirable to give full effect
      to this Guaranty and to perfect and preserve the rights and powers of a Secured
      Party hereunder.

    

    8. Termination;
      Reinstatement.
      This
      Guaranty shall remain in full force and effect until the earlier of: (i) the
      Obligations are paid in full or otherwise satisfied (including by the conversion
      in full of the Notes) (other than contingent indemnity obligations), and not
      subject to any recapture or preference in bankruptcy or similar proceedings,
      and
      the Secured Parties have no further commitment to extent credit to the Borrower
      or (ii) the Secured Parties are given written notice of the Guarantor’s
      intention to discontinue this Guaranty, notwithstanding any intermediate or
      temporary payment or settlement of the whole or any part of the Obligations.
      No
      such notice under (ii) above shall be effective against a Secured Party unless
      received and acknowledged by an officer of a Secured Party at its head office.
      Without limiting the generality of the foregoing sentence, the Guarantor will
      be
      released from all liability hereunder concurrently with either the repayment
      of
      in full of all amounts owed under the Notes or the conversion in full of the
      Notes. No notice under (ii) above shall affect any rights of a Secured Party
      or
      of any affiliate hereunder with respect to any Obligations incurred prior to
      such notice. This Guaranty shall continue to be effective or be reinstated,
      notwithstanding any notice or termination, if at any time any payment made
      or
      value received with respect to an Obligation is rescinded or must otherwise
      be
      returned by a Secured Party upon the insolvency, bankruptcy or reorganization
      of
      the Borrower, or otherwise, all as though such payment had not been made or
      value received. 

    

    9. Successors
      and Assigns.
      This
      Guaranty shall be jointly and severally binding upon the Guarantor, its
      successors and assigns, and shall inure to the benefit of and be enforceable
      by
      the Secured Parties and their successors, transferees and assigns. Without
      limiting the generality of the foregoing sentence, the Secured Parties may
      assign or otherwise transfer any agreement or any note held by it evidencing,
      securing or otherwise executed in connection with the Obligations, or sell
      participations in any interest therein, to any other person or entity, and
      such
      other person or entity shall thereupon become vested, to the extent set forth
      in
      the agreement evidencing such assignment, transfer or participation, with all
      the rights in respect thereof granted to the Secured Parties
      herein.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    10. Amendments
      and Waivers.
      No
      amendment or waiver of any provision of this Guaranty nor consent to any
      departure by the Guarantor therefrom shall be effective unless the same shall
      be
      in writing and signed by the Secured Parties holding a majority of the principal
      amount of the Notes. No failure on the part of a Secured Party to exercise,
      and
      no delay in exercising, any right hereunder shall operate as a waiver thereof;
      nor shall any single or partial exercise of any right hereunder preclude any
      other or further exercise thereof or the exercise of any other
      right.

    

    11. Notices.
      All
      notices and other communications called for hereunder shall be made in writing
      and, unless otherwise specifically provided herein, shall be deemed to have
      been
      duly made or given when delivered by hand or mailed first class mail postage
      prepaid or, in the case of telegraphic or telexed notice, when transmitted,
      answer back received, addressed as follows: if to the Guarantor, at the address
      set forth above, and if to a Secured Party, at the address set forth in the
      Purchase Agreement (as defined in the Note).

    

    12. Governing
      Law; Consent to Jurisdiction.
      This
      Guaranty shall be governed by, and construed in accordance with, the laws of
      the
      State of New York without reference to its conflicts of laws provisions. The
      Guarantor agrees that any suit for the enforcement of this Guaranty may be
      brought in the courts of the State of New York or any federal court sitting
      therein and consents to the non-exclusive jurisdiction of such court and to
      service of process in any such suit being made upon the Guarantor by mail at
      the
      address specified in Section 11 hereof. The Guarantor hereby waives any
      objection that it may now or hereafter have to the venue of any such suit or
      any
      such court or that such suit was brought in an inconvenient court. Any
      enforcement action relating to this Guarantee may be brought by motion for
      summary judgment in lieu of a complaint pursuant to Section 3213 of the New
      York
      Civil Practice Law and Rules.

    

    13. WAIVER
      OF JURY TRIAL. THE GUARANTOR AND, BY THEIR ACCEPTANCE OF THIS GUARANTY, EACH
      SECURED PARTY, HEREBY WAIVES TRIAL BY JURY IN ANY LITIGATION IN ANY COURT WITH
      RESPECT TO, IN CONNECTION WITH, OR ARISING OUT OF: (A) THIS GUARANTY OR ANY
      OTHER INSTRUMENT OR DOCUMENT DELIVERED IN CONNECTION WITH THE OBLIGATIONS;
      (B) THE VALIDITY, INTERPRETATION, COLLECTION OR ENFORCEMENT THEREOF; OR
      (C) ANY OTHER CLAIM OR DISPUTE HOWEVER ARISING BETWEEN THE GUARANTOR AND
      ANY SECURED PARTY.

    

    14. Certain
      References.
      All
      pronouns and any variations thereof shall be deemed to refer to the masculine,
      feminine, neuter, singular or plural, as the identity of the person, persons,
      entity or entities may require. The terms “herein”, “hereof” or “hereunder” or
      similar terms used in this Guaranty refer to this entire Guaranty and not only
      to the particular provision in which the term is used.

    
 

    15. Miscellaneous.
      This
      Guaranty, together with the Security Agreement, delivered by the Guarantor
      as of
      the date hereof to the Secured Parties, constitutes the entire agreement of
      the
      Guarantor with respect to the matters set forth herein. The rights and remedies
      herein provided are cumulative and not exclusive of any remedies provided by
      law
      or any other agreement, and this Guaranty shall be in addition to any other
      guaranty of the Obligations. The invalidity or unenforceability of any one
      or
      more sections of this Guaranty shall not affect the validity or enforceability
      of its remaining provisions. Captions are for the ease of reference only and
      shall not affect the meaning of the relevant provisions. The meanings of all
      defined terms used in this Guaranty shall be equally applicable to the singular
      and plural, masculine, feminine and generic forms of the terms defined.

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF,
      the
      Guarantor has caused this Guaranty to be executed and delivered as of the date
      appearing in the introductory paragraph of this Guaranty.

     

    
      	
              DUSKA
                SCIENTIFIC CO.

            	 
	 	 
	
              By:

            	/s/
              Amir Pelleg    
	 
	 	
              Name:
                Amir Pelleg 

              Title:
                PresidentUnassociated Document

    

    PATENT,
      TRADEMARK

    AND
      COPYRIGHT SECURITY AGREEMENT

    

    THIS
      PATENT, TRADEMARK AND COPYRIGHT SECURITY AGREEMENT (this “Agreement”) is entered
      into as of this 26th day of September 2007, by and
      among
      DUSKA THEREAPEUTICS, INC., a Nevada corporation, and DUSKA SCIENTIFIC CO.,
      a
      Delaware corporation, each with
      its
      principal place of business at Two Bala Plaza, Suite 300, Bala Cynwyd, PA
      (jointly and severally, the
      “Borrower”), and Platinum Long Term Growth VI, LLC, as collateral agent (the
“Agent”) for the investors identified in the below referenced Purchase Agreement
      (collectively, together with their successors and assigns, the
“Lenders”).

    

    WHEREAS,
      Borrower and the Lenders are parties to a certain Note and Warrant Purchase
      Agreement, dated as of September 26, 2007 (as amended, restated, supplemented
      or
      extended from time to time, the “Purchase Agreement”), and a Security Agreement,
      dated as of September 26, 2007 (the “Security Agreement”), which provide for,
      among other things: (i) the Lenders to extend certain loans to or for the
      account of the Borrower; (ii) the grant by the Borrower to the Lenders of a
      security interest in all of the Borrower’s assets, including, without
      limitation, its patents, patent applications, trademarks, trademark
      applications, goodwill, service marks, trade names, trade styles, copyrights,
      copyright applications, mask works, trade-secrets information, and other
      proprietary rights, together
      with all additions, accessions, accessories, amendments, attachments,
      modifications, substitutions, and replacements, proceeds and products of any
      of
      the foregoing, as
      set
      forth in the Purchase Agreement and the other Transaction Documents (capitalized
      terms used herein and not otherwise defined have the respective meanings given
      in the Purchase Agreement); and (iii) the appointment of the Agent as collateral
      agent, for the benefit of the Lenders, for purpose of this Agreement and the
      Security Agreement.

    

    NOW,
      THEREFORE, in consideration of the foregoing premises and the mutual covenants
      and agreements contained, and for other good and valuable consideration (the
      receipt and sufficiency of which are hereby acknowledged), the Borrower and
      the
      Agent, for the benefit of the Lenders, agree as follows:

    

    1. Security
      Interest in Patents, Trademarks and Copyrights.
      To
      secure the complete and timely satisfaction of all of Borrower’s “Obligations”
(as that term is defined in the Security Agreement) to the Lenders, the Borrower
      hereby grants and conveys to the Agent, for the benefit of the Lenders, a
      security interest (having priority over all other security interests) with
      power
      of sale, to the extent permitted by law, in all of its now owned or existing,
      and hereafter acquired or arising: 

    

    
      	 	
              (a)

            	
              patents,
                patent applications, including, without limitation, any invention
                and
                improvement to a patent or patent application, including without
                limitation those patents and patent applications listed on Schedule
                A
                (being sometimes referred to individually and/or collectively, the
                “Patents”); 

            

    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

    
 

    
      	 	
              (b)

            	
              trademarks,
                registered trademarks and trademark applications, trade names, trade
                styles, service marks, registered service marks and service mark
                applications including, without limitation, the registered trademarks,
                trademark applications, registered service marks and service mark
                applications listed on Schedule
                B
                and (i) all renewals thereof, (ii) all accounts receivable, income,
                royalties, damages and payments now and hereafter due and/or payable
                with
                respect thereto, including, without limitation, payments under all
                licenses entered into in connection therewith and damages and payments
                for
                past, present or future infringements and dilutions thereof, and
                (iii) the
                right to sue for past, present and future infringements and dilutions
                thereof, and (iv) all of the Borrower’s rights corresponding thereto
                throughout the world (all of the foregoing registered trademarks,
                trademark applications, trade names, trade styles, registered service
                marks and service mark applications, together with the items described
                in
                clauses (i)-(iv) in this Section 1(b), being sometimes hereinafter
                individually and/or collectively referred to as the “Trademarks”);
                

            

    

    
      	 	 	 

    

    
      	 	
              (c)

            	
              the
                goodwill of Borrower’s business connected with and symbolized by the
                Trademarks; and

            

    

    

    
      	 	
              (d)

            	
              copyrights,
                and copyright applications, including without limitation, those copyrights
                listed in Schedule
                C
                (being sometimes referred to individually and/or collectively as
                the
                “Copyrights”);

            

    

    

    together
      with all additions, accessions, accessories, amendments, attachments,
      modifications, substitutions, and replacements, proceeds and products of the
      foregoing.

     

    2. Recording
      of Patents and Trademarks.
      Borrower represents and warrants that (1) the patents and patent applications
      listed in Schedule A, and (2) the trademark and trademark applications described
      in Schedule B, have each been duly recorded in the U.S. Patent and Trademark
      Office (the “PTO”); and that no other patents, patent applications, trademarks,
      or trademark applications have been filed or recorded with the PTO in which
      the
      Borrower has an interest.

    

    3. Recording
      of Copyrights.
      Borrower represents and warrants that the copyright and copyright applications
      described in Schedule C have been duly recorded in the U.S. Copyright Office,
      and that no other copyright, and copyright applications have been recorded
      in
      the U.S. Copyright Office, in which the Borrower has an interest.

    

    4. Restrictions
      on Future Agreements.
      Borrower will not, without the Agent’s prior written consent, enter into any
      agreement, including, without limitation, any license agreement, that is
      inconsistent with this Agreement, and Borrower further agrees that it will
      not
      take any action, and will use reasonable efforts not to knowingly permit any
      action to be taken by others subject to its control, including licensees, or
      knowingly fail to take any action, which would affect the validity or
      enforcement of the rights transferred to the Agent, for the benefit of the
      Lenders, under this Agreement or the rights associated with those Patents,
      Trademarks and/or Copyrights which are in Borrower’s reasonable business
      judgment, necessary or desirable in the operation of Borrower’s
      business.

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

    5. New
      Patents, Trademarks and Copyrights.
      Borrower represents and warrants that the Patents, Trademarks, and Copyrights
      listed on Schedules A, B, and C, include all of the patents, patent
      applications, trademark registrations, trademark applications, service marks
      registrations, service mark applications, registered copyrights and copyright
      applications, now owned or held by Borrower. If, prior to the termination of
      this Agreement, Borrower shall (i) create or obtain rights to any new patents,
      trademarks, trademark registrations, trademark applications, trade names, trade
      styles, service marks, service marks registrations, or service mark
      applications, or (ii) become entitled to the benefit of any patent, trademark,
      trademark registration, trademark application, trade name, trade style, service
      mark, service mark registration, service mark application, the provisions of
      Section 1 above shall automatically apply thereto and Borrower shall give the
      Agent prompt written notice thereof. Borrower hereby authorizes the Agent to
      modify this Agreement by (a) amending Schedules A, B, and/or C, as the case
      may
      be, to include any future patents, trademark registrations, trademark
      applications, service mark registrations, service mark applications, registered
      copyrights and copyright applications that are Patents, Trademarks or Copyrights
      under Section 1 above, or under this Section 5 (whether or not any such notice
      from Borrower has been sent or received), and (b) filing, in addition to and
      not
      in substitution for this Agreement, a supplement or addendum to this Agreement
      containing on Schedule B therein, as the case may be, such registered
      trademarks, trademark applications, service marks, registered service marks
      and
      service mark applications that are Trademarks under Section 1 above or this
      Section 5 and to take any action the Agent otherwise deems appropriate to
      perfect or maintain the rights and interest of the Agent, for the benefit of
      the
      Lender, under this Agreement with respect to such Patents, Trademarks and
      Copyrights. 

    

    6. Nature
      and Continuation of Security Interest; Notice to Third Parties.
      This
      Agreement has the effect of giving third parties notice of the Agent’s Security
      Interest in Borrower’s Patents, Trademarks and Copyrights. This Agreement is
      made for collateral security purposes only. This Agreement shall create a
      continuing security interest in the Patents, Trademarks and Copyrights and
      shall
      remain in full force and effect until the liabilities and Obligations of the
      Borrower to the Lenders have been paid in full, including all obligations under
      the Purchase Agreement and the Transaction Documents (as defined in the Purchase
      Agreement). 

    

    7. Right
      to Inspect; Assignments and Security Interests.
      The
      Agent shall have the right, at any reasonable time upon prior written request
      and from time to time, to inspect Borrower’s premises and to examine Borrower’s
      books, records and operations relating to the Patents and the Trademarks,
      including, without limitation, Borrower’s quality control processes; provided,
      that in conducting such inspections and examinations, the Agent shall use
      reasonable efforts not to disturb unnecessarily the conduct of Borrower’s
      ordinary business operations. From and after the occurrence of an event of
      default, under the Purchase Agreement, or any other Transaction Documents
      (“Event of Default”), Borrower agrees that the Agent, or a conservator appointed
      by the Agent, shall have the right to take any action to renew or to apply
      for
      registration of any Trademarks as the Agent or said conservator, on its sole
      judgment, may deem necessary or desirable in connection with the enforcement
      of
      the Agent’s rights hereunder. Borrower agrees (i) except in accordance with
      Borrower’s reasonable business judgment, not to sell or assign its respective
      interests in the Patents, Trademarks and/or Copyrights without the prior written
      consent of the Agent and the holders of a majority in principal the amount
      of
      the Notes (as defined in the Purchase Agreement) and (ii) to maintain the
      quality of any and all products in connection with which the Trademarks are
      used, consistent with the quality of said products as of the date hereof.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    8. Duties
      of Borrower.
      Borrower shall have the duty to (i) prosecute diligently any patent application,
      or trademark application or service mark application that is part of the
      Trademarks pending as of the date hereof or thereafter until the termination
      of
      this Agreement, and (ii) preserve and maintain all of Borrower’s rights in the
      patents, patent applications, trademark applications, service mark applications
      and trademark and service mark registrations that are part of the Patents and
      Trademarks. Any expenses incurred in connection with the foregoing shall be
      borne by Borrower. Borrower shall not, without thirty (30) days prior written
      notice to the Agent, abandon any trademark or service mark that is the subject
      of a registered trademark, service mark or application therefor and which,
      is or
      shall be necessary or economically desirable in the operation of the Borrower’s
      business. The Agent shall not have any duty with respect to the Patents,
      Trademarks and/or Copyrights. Without limiting the generality of the foregoing,
      the Agent shall not be under any obligation to take any steps necessary to
      preserve rights in the Patents, Trademarks and/or Copyrights against any other
      parties, but may do so at its option during the continuance of an Event of
      Default, and all expenses incurred in connection therewith shall be for the
      sole
      account of Borrower and added to the Obligations and liabilities secured hereby,
      and by the Transaction Documents. 

    

    9. Agent’s
      Right to Sue.
      Upon
      the occurrence and during the continuance of any Event of Default, the Agent
      shall have the right, for the benefit of the Lenders, to exercise all rights
      and
      remedies available at law or in equity. From and after the occurrence and during
      the continuance of an Event of Default, the Agent shall have the right, but
      shall not be obligated, to bring suit or take any other action to enforce the
      Patents, Trademarks and Copyrights and, if the Agent shall commence any such
      suit or take any such action, Borrower shall, at the request of the Agent,
      do
      any and all reasonable lawful acts and execute any and all proper documents
      reasonably required by the Agent in aid of such enforcement. Borrower shall,
      upon demand, promptly reimburse and indemnify the Agent for all reasonable
      out-of-pocket costs and expenses incurred by the Agent in the exercise of its
      rights under this Section 9 (including, without limitation, all attorneys’
fees). If, for any reason whatsoever, the Agent is not reimbursed with respect
      to the costs and expenses referred to in the preceding sentence, such costs
      and
      expenses shall be added to the Obligations secured hereby. 

    

    10.
       Waivers.
      The
      Borrower waives to the extent permitted by applicable law presentment, demand,
      notice, protest, notice of acceptance of this Agreement, notice of any loans
      made, credit or other extensions granted, collateral received or delivered
      or
      any other action taken in reliance hereon and all other demands and notices
      of
      any description, except for such demands and notices as are expressly required
      to be provided to the Borrower under this Agreement or any other document
      evidencing the Obligations or the liabilities under the Transaction Documents.
      With respect to both the Obligations and the Collateral, the Borrower assents
      to
      any extension or postponement of the time of payment or any other forgiveness
      or
      indulgence, to any substitution, exchange or release of Collateral, to the
      addition or release of any party or person primarily or secondarily liable,
      to
      the acceptance of partial payment thereon and the settlement, compromise or
      adjustment of any thereof, all in such manner and at such time or times as
      the
      Agent may deem advisable. The Agent may exercise its rights with respect to
      the
      Collateral without resorting, or regard, to other collateral or sources of
      reimbursement for Obligations. The Agent shall not be deemed to have waived
      any
      of its rights with respect to the Obligations or the Collateral unless such
      waiver is in writing and signed by the Agent. No delay or omission on the part
      of the Agent in exercising any right shall operate as a waiver of such right
      or
      any other right. A waiver on any one occasion shall not bar or waive the
      exercise of any right on any future occasion. All rights and remedies of the
      Agent in the Obligations or the Collateral, whether evidenced hereby or by
      any
      other instrument or papers, are cumulative and not exclusive of any remedies
      provided by law or any other agreement, and may be exercised separately or
      concurrently. 

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    11.
       Successors
      and Assigns.
       This
      Agreement shall be binding upon the Borrower, its respective successors and
      permitted assigns, and shall inure to the benefit of and be enforceable by
      the
      Agent and its successors and assigns. Without limiting the generality of the
      foregoing sentence, the Agent may assign or otherwise transfer any agreement or
      any note held by it evidencing, securing or otherwise executed in connection
      with the Obligations, or sell participations in any interest therein, to any
      other person or entity.

    

    12.
       General;
      Term.
       

    

    (a)
       This
      Agreement may not be amended or modified except by a writing signed by the
      Borrower and the Agent, nor may the Borrower assign any of its rights hereunder.
      This Agreement and the terms, covenants and conditions hereof shall be construed
      in accordance with, and governed by, the laws of the State of New York (without
      giving effect to any conflicts of law provisions contained therein). In the
      event that any Collateral stands in the name of the Borrower and another or
      others jointly, as between the Agent and the Borrower, the Agent may deal with
      the same for all purposes as if it belonged to or stood in the name of the
      Borrower alone. 

    

    (b)
       This
      Agreement and the security interests granted herein shall terminate on the
      date
      on which all payments under the Notes (as defined in the Purchase Agreement)
      have been indefeasibly paid or satisfied in full (including as a result of
      the
      conversion in full of the Notes) and all other obligations have been paid or
      discharged (other than contingent indemnification obligations).  

    

    13.
       WAIVER
      OF JURY TRIAL; VENUE. 

    

    THE
      BORROWER HEREBY WAIVES TRIAL BY JURY IN ANY LITIGATION IN ANY COURT WITH RESPECT
      TO, IN CONNECTION WITH OR, ARISING OUT OF: (A) THIS AGREEMENT OR ANY OTHER
      INSTRUMENT OR DOCUMENT DELIVERED IN CONNECTION HEREWITH; (B) THE VALIDITY,
      INTERPRETATION, COLLECTION OR ENFORCEMENT THEREOF; OR (C) ANY OTHER CLAIM OR
      DISPUTE HOWEVER ARISING BETWEEN THE BORROWER AND THE LENDERS OR THE AGENT IN
      RESPECT OF THIS AGREEMENT.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    THE
      BORROWER AGREES THAT ANY SUIT FOR THE ENFORCEMENT OF THE OBLIGATIONS,
ARISING
      OUT OF OR IN ANY MANNER RELATING TO THIS AGREEMENT OR ANY TRANSACTION RELATING
      TO ANY
      TRANSACTION DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK
      IN
      THE CITY OF NEW YORK OR ANY FEDERAL COURT SITTING THEREIN AND CONSENTS TO THE
      NON-EXCLUSIVE JURISDICTION OF SUCH COURT AND TO SERVICE OF PROCESS IN ANY SUCH
      SUIT BEING MADE UPON THE BORROWER BY MAIL AT THE ADDRESS SPECIFIED IN THE
      PURCHASE AGREEMENT. THE BORROWER HEREBY WAIVES ANY OBJECTION THAT IT MAY NOW
      OR
      HEREAFTER HAVE TO THE VENUE OF ANY SUCH SUIT OR ANY SUCH COURT OR THAT SUCH
      SUIT
      WAS BROUGHT IN AN INCONVENIENT COURT. THE
      BORROWER SHALL NOT BE ENTITLED IN ANY SUCH ACTION OR PROCEEDING TO ASSERT ANY
      DEFENSE GIVEN OR ALLOWED UNDER THE LAWS OF ANY STATE OTHER THAN THE STATE OF
      NEW
      YORK UNLESS SUCH DEFENSE IS ALSO GIVEN OR ALLOWED BY THE LAWS OF THE STATE
      OF
      NEW YORK. NOTHING IN THIS SECTION SHALL AFFECT OR IMPAIR IN ANY MANNER OR TO
      ANY
      EXTENT THE RIGHT OF THE AGENT TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED
      AGAINST THE BORROWER IN ANY JURISDICTION IN WHICH ANY COLLATERAL IS LOCATED,
      THE
      BORROWER CONDUCTS ACTIVITIES OR WHERE LEGAL PROCEEDINGS MAY BE NECESSARY IN
      ORDER TO COLLECT OR ENFORCE THE OBLIGATIONS OR TO SERVE PROCESS IN ANY MANNER
      PERMITTED BY LAW.

     

    [Signature
      Page Follows]

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

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

     

    
      	 	 	BORROWER:
	 	 	 	 
	
              In
                the Presence of:

            	 	DUSKA
              THERAPEUTICS, INC. 
	 	 	 	 
	 	 	 	 
	    
	 	By:	/s/
              Amir Pelleg
	
              Witness

            	 	 	
              Name:
                Amir Pelleg

            
	 	 	 	
              Title:
                President

            
	
               

            	 	 	 
	
              In
                the Presence of:

            	 	DUSKA
              SCIENTIFIC CO. 
	 	 	 	 
	 	 	 	 
	    
	 	By:	/s/
              Amir Pelleg
	
              Witness

            	 	 	
              Name:
                Amir Pelleg

            
	 	 	 	
              Title:
                President

            
	
               

            	 	 	 
	 	 	 	 
	 	 	AGENT:
	 	 	 	 
	
              In
                the Presence of:

            	 	PLATINUM
              LONG TERM GROWTH VI, LLC
	 	 	 	 
	 	 	 	 
	
               

            	 	By:	
              /s/
                Mark Nordlicht

            
	
              Witness

            	 	 	
              Name:
                Mark Nordicht

            
	 	 	 	
              Title:
                Managing Member

            

    

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

    

      
        	
                STATE
                  OF _______________ 

              	)
	 	
                )
                  SS.:

              
	
                COUNTY
                  OF __________________ 

              	)

      

       

    

    On
      the
      _____ day of September, in the year 2007, before me, the undersigned, a notary
      public in and for said state, personally appeared ________________, personally
      known to me or proved to me on the basis of satisfactory evidence to be the
      individual(s) whose name(s) is (are) subscribed to the within instrument and
      acknowledged to me that he/she/they executed the same in his/her/their
      capacity(ies), and that by his/her/their signature(s) on the instrument, the
      individual(s), or the person upon behalf of which the individual(s) acted,
      executed the instrument.

     

    
      	 	 	
              _____________________________________

            
	 	
            	Notary
              Public
	
              STATE
                OF _______________

            	)	 
	 	
              )
                SS.:

            	 
	
              COUNTY
                OF __________________ 

            	)	 

    

    

    On
      the
      _____ day of September, in the year 2007, before me, the undersigned, a notary
      public in and for said state, personally appeared ________________, personally
      known to me or proved to me on the basis of satisfactory evidence to be the
      individual(s) whose name(s) is (are) subscribed to the within instrument and
      acknowledged to me that he/she/they executed the same in his/her/their
      capacity(ies), and that by his/her/their signature(s) on the instrument, the
      individual(s), or the person upon behalf of which the individual(s) acted,
      executed the instrument.

    

    
      	 	 	 
	 	 	
              _____________________________________

            
	 	
            	Notary
              Public
	
              STATE
                OF _______________ 

            	)	 
	 	
              )
                SS.:

            	 
	
              COUNTY
                OF __________________ 

            	) 	 

    

    

    On
      the
      _____ day of September, in the year 2007, before me, the undersigned, a notary
      public in and for said state, personally appeared ________________, personally
      known to me or proved to me on the basis of satisfactory evidence to be the
      individual(s) whose name(s) is (are) subscribed to the within instrument and
      acknowledged to me that he/she/they executed the same in his/her/their
      capacity(ies), and that by his/her/their signature(s) on the instrument, the
      individual(s), or the person upon behalf of which the individual(s) acted,
      executed the instrument.

     

    
      	 	 	
              _____________________________________

            
	 	
               

            	Notary
              Public

    

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

    Schedule
      A

    Patents
      and Patent Applications

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

    

    Schedule
      B

    Trademarks
      and Trademark Applications

     

    
      	
              U.S.
                TRADEMARK APPLICATIONS AND REGISTRATIONS

            
	 
	
              Name

            	
              Number

            	
              Issue
                Date

            
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

    

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    Schedule
      C

    Copyrights
      and Copyright Applications

    

    
      
        
        

      

      
        11

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