Document:

<PAGE>   1
                                                                     EXHIBIT 4.5

                            STOCK PURCHASE AGREEMENT

Amylin Pharmaceuticals, Inc.
9373 Towne Centre Drive
San Diego, California 92121

The undersigned (the "Investor"), hereby confirms its agreement with you as
follows:

1. This Stock Purchase Agreement (the "Agreement") is made as of the date set
forth below between Amylin Pharmaceuticals, Inc., a Delaware corporation (the
"Company"), and the Investor.

2. The Company has authorized the sale and issuance of up to
_______________________ shares (the "Shares") of common stock of the Company,
$.001 par value per share (the "Common Stock"), subject to adjustment by the
Company's Board of Directors, to certain investors in a private placement (the
"Offering").

3. The Company and the Investor agree that the Investor will purchase from the
Company and the Company will issue and sell to the Investor ____________ shares,
for a purchase price of $_________________ per share, or an aggregate purchase
price of $____________________, pursuant to the Terms and Conditions for
Purchase of Shares attached hereto as Annex I and incorporated herein by this
reference as if fully set forth herein. Unless otherwise requested by the
Investor, certificates representing the Shares purchased by the Investor will be
registered in the Investor's name and address as set forth below.

4. The Investor represents that, except as set forth below, (a) it has had no
position, office or other material relationship within the past three years with
the Company or its affiliates, (b) neither it, nor any group of which it is a
member or to which it is related, beneficially owns (including the right to
acquire or vote) any securities of the Company and (c) it has no direct or
indirect affiliation or association with any NASD member. Exceptions:

________________________________________________________________________________
                (If no exceptions, write "none." If left blank,
                     response will be deemed to be "none.")

Please confirm that the foregoing correctly sets forth the agreement between us
by signing in the space provided below for that purpose.

                                        DATED AS OF:                     , 2000
                                                      -------------------

                                        ---------------------------------------
                                        "INVESTOR"

                                        By:
                                           -------------------------------------
                                        Print Name:
                                                   -----------------------------
                                        Title:
                                              ----------------------------------
                                        Address:
                                                --------------------------------

                                        ----------------------------------------

AGREED AND ACCEPTED:
AMYLIN PHARMACEUTICALS, INC.

By:
   -------------------------------------
Title:
      ----------------------------------

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                                     ANNEX I

                   TERMS AND CONDITIONS FOR PURCHASE OF SHARES

        1. AUTHORIZATION AND SALE OF THE SHARES. Subject to the terms and
conditions of this Agreement, the Company has authorized the sale of the Shares.

        2. AGREEMENT TO SELL AND PURCHASE THE SHARES; SUBSCRIPTION DATE.

               2.1 At the Closing (as defined in Section 3), the Company will
sell to the Investor, and the Investor will purchase from the Company, upon the
terms and conditions hereinafter set forth, the number of Shares set forth on
the signature page to which these Terms and Conditions for Purchase of Shares
are attached as Annex I (the "Signature Page") at the purchase price set forth
on such Signature Page.

               2.2 The Company proposes to enter into this same form of Stock
Purchase Agreement with certain other investors (the "Other Investors") and
expects to complete sales of Shares to them. (The Investor and the Other
Investors are hereinafter sometimes collectively referred to as the "Investors,"
and this Agreement and the Stock Purchase Agreements executed by the Other
Investors are hereinafter sometimes collectively referred to as the
"Agreements.") The Company will accept executed Agreements from Investors for
the purchase of Shares commencing upon the date on which the Company provides
the Investors with the proposed purchase price per Share and concluding upon the
date (the "Subscription Date") on which the Company has (i) executed Agreements
with Investors for the purchase of Shares in the amount of at least $40,000,000
in the aggregate and (ii) notified Chase Securities Inc., Prudential Vector
Healthcare Group and Warburg Dillon Read LLC (in their capacities as Placement
Agents for the Shares, the "Placement Agents") in writing that it is no longer
accepting Agreements from Investors for the purchase of Shares.

               2.3 Investor acknowledges that the Company intends to pay the
Placement Agents a fee in respect of the sale of Shares to the Investor.

        3. DELIVERY OF THE SHARES AT CLOSING. The completion of the purchase and
sale of the Shares (the "Closing") shall occur at a place and time (the "Closing
Date") to be specified by the Company and the Placement Agents, not later than
four (4) complete trading days following the Subscription Date unless otherwise
extended by the Company, and of which the Investors will be notified in advance
by the Placement Agents. At the Closing, (i) the Company shall deliver to the
Investor one or more stock certificates representing the number of Shares set
forth on the signature page hereto, each such certificate to be registered in
the name of the Investor or, if so indicated on the Stock Certificate
Questionnaire attached hereto as Exhibit A, in the name of a nominee designated
by the Investor and (ii) the Investor shall deliver immediately available funds
in the amount of the aggregate purchase price for the Shares by wire transfer to
an account designated by the Placement Agents.

        The Company's obligation to issue the Shares to the Investor shall be
subject to the following conditions, any one or more of which may be waived by
the Company: (a) receipt by the Company of the purchase price for the Shares
being purchased hereunder as set forth on the

                                       1.
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Signature Page hereto; (b) completion of purchases and sales under the
Agreements with the Other Investors; and (c) the accuracy of the representations
and warranties made by the Investors and the fulfillment of those undertakings
of the Investors to be fulfilled prior to the Closing.

        The Investor's obligation to purchase the Shares shall be subject to the
following conditions, any one or more of which may be waived by the Investor:
(a) Investors shall have executed Agreements for the purchase of Shares in the
amount of at least $40,000,000 in the aggregate; (b) the accuracy of the
Company's representations and warranties contained in this Agreement at the
Closing; and (c) the satisfaction of all of the conditions set forth in the
Placement Agency Agreement between the Company and the Placement Agents. Subject
to clause (a) above, the Investor's obligations are expressly not conditioned on
the purchase by any or all of the other Investors of the Shares that they have
agreed to purchase from the Company.

        4. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. Except as
otherwise described in the Company's regular reports on Form 10-Q and 10-K and
the Company's Registration Statement on Form S-3 (Registration No. 333-87033) as
filed by the Company with the Securities and Exchange Commission in 1999 (the
"SEC Documents") and provided to the Investor, in the Company's press releases
since September 30, 1999 provided to the Investor, and in the other proprietary
information disclosed by the Company to the Investor in contemplation of this
offering (including the documents incorporated by reference therein, the
"Company Information"), which qualifies the following representations and
warranties in their entirety, the Company hereby represents and warrants to, and
covenants with, the Investor, as follows:

               4.1 ORGANIZATION. The Company is duly incorporated and validly
existing in good standing under the laws of the jurisdiction of its
organization. The Company has full power and authority to own, operate and
occupy its properties and to conduct its business as presently conducted and is
registered or qualified to do business and in good standing in each jurisdiction
in which it owns or leases property or transacts business and where the failure
to be so qualified would have a material adverse effect upon the business,
financial condition, properties or operations of the Company ("Material Adverse
Effect"), and no proceeding has been instituted in any such jurisdiction
revoking, limiting or curtailing, or seeking to revoke, limit or curtail, such
power and authority or qualification.

               4.2 DUE AUTHORIZATION. The Company has all requisite power and
authority to execute, deliver and perform its obligations under the Agreements,
and the Agreements have been duly authorized and validly executed and delivered
by the Company and constitute legal, valid and binding agreements of the Company
enforceable against the Company in accordance with their terms, except as rights
to indemnity and contribution may be limited by state or federal securities laws
or the public policy underlying such laws, except as enforceability may be
limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting creditors' and contracting parties' rights generally and
except as enforceability may be subject to general principles of equity
(regardless of whether such enforceability is considered in a proceeding in
equity or at law).

               4.3 NON-CONTRAVENTION. The execution and delivery of the
Agreements, the issuance and sale of the Shares to be sold by the Company under
the Agreements, the fulfillment

                                       2.
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of the terms of the Agreements and the consummation of the transactions
contemplated thereby will not (A) conflict with or constitute a violation of, or
default (with the passage of time or otherwise) under, (i) any material bond,
debenture, note or other evidence of indebtedness, or any material lease,
contract, indenture, mortgage, deed of trust, loan agreement, joint venture or
other agreement or instrument to which the Company is a party or by which it or
its property is bound, where such conflict, violation or default is likely to,
individually or in the aggregate, result in a Material Adverse Effect, (ii) the
charter, by-laws or other organizational documents of the Company, or (iii) any
law, administrative regulation, ordinance or order of any court or governmental
agency, arbitration panel or authority binding upon the Company or its property,
where such conflict, violation or default is likely to, individually or in the
aggregate, result in a Material Adverse Effect, or (B) result in the creation or
imposition of any lien, encumbrance, claim, security interest or restriction
whatsoever upon any of the material properties or assets of the Company or an
acceleration of indebtedness pursuant to any obligation, agreement or condition
contained in any material bond, debenture, note or any other evidence of
indebtedness or any material indenture, mortgage, deed of trust or any other
agreement or instrument to which the Company is a party or by which it is bound
or to which any of the property or assets of the Company is subject. No consent,
approval, authorization or other order of, or registration, qualification or
filing with, any regulatory body, administrative agency, or other governmental
body in the United States is required for the execution and delivery of the
Agreements and the valid issuance and sale of the Shares to be sold pursuant to
the Agreements, other than such as have been made or obtained, and except for
any securities filings required to be made under federal or state securities
laws.

               4.4 CAPITALIZATION. The capitalization of the Company is
described in the Company's SEC Documents. The Company has not issued any capital
stock since September 30, 1999 other than (i) pursuant to employee benefit plans
disclosed in the Company's SEC Documents; (ii) a warrant to purchase 10,000
shares of the Company's Common Stock issued in connection with the Company's
acquisition of rights to certain intellectual property; and (iii) 3,700,000
shares of Common Stock issued in a private placement on October 6, 1999. The
Shares to be sold pursuant to the Agreements have been duly authorized, and when
issued and paid for in accordance with the terms of the Agreements, will be duly
and validly issued, fully paid and nonassessable. The outstanding shares of
capital stock of the Company have been duly and validly issued and are fully
paid and nonassessable, have been issued in compliance with all federal and
state securities laws, and were not issued in violation of any preemptive rights
or similar rights to subscribe for or purchase securities. Except as set forth
in or contemplated by the Company's SEC Documents or as otherwise described in
this Agreement, there are no outstanding rights (including, without limitation,
preemptive rights), warrants or options to acquire, or instruments convertible
into or exchangeable for, any unissued shares of capital stock or other equity
interest in the Company, or any contract, commitment, agreement, understanding
or arrangement of any kind to which the Company is a party and relating to the
issuance or sale of any capital stock of the Company, any such convertible or
exchangeable securities or any such rights, warrants or options. Without
limiting the foregoing, no preemptive right, co-sale right, registration right,
right of first refusal or other similar right exists with respect to the
issuance and sale of the Shares. Except as disclosed in the Company's SEC
Documents or as otherwise described in this Agreement, there

                                       3.
<PAGE>   5

are no stockholders agreements, voting agreements or other similar agreements
with respect to the Common Stock to which the Company is a party.

               4.5 LEGAL PROCEEDINGS. There is no legal or governmental
proceeding pending or, to the Company's knowledge, overtly threatened to which
the Company is or would be a party or of which the business or property of the
Company is or would be subject that is not disclosed in the Company's SEC
Documents that is required to be so disclosed.

               4.6 NO VIOLATIONS. The Company is not in violation of its
charter, bylaws or other organizational document, or in violation of any law,
administrative regulation, ordinance or order of any court or governmental
agency, arbitration panel or authority applicable to the Company, which
violation, individually or in the aggregate, would be reasonably likely to have
a Material Adverse Effect, or is in default (and there exists no condition
which, with the passage of time or otherwise, would constitute a default) in the
performance of any material bond, debenture, note or any other evidence of
indebtedness in any indenture, mortgage, deed of trust or any other material
agreement or instrument to which the Company is a party or by which the Company
is bound or by which the property of the Company is bound, which would,
individually or in the aggregate, be reasonably likely to have a Material
Adverse Effect.

               4.7 GOVERNMENTAL PERMITS, ETC. With the exception of the matters
which are dealt with separately in Sections 4.1, 4.12, and 4.13, the Company has
all necessary franchises, licenses, certificates and other authorizations from
any foreign, federal, state or local government or governmental agency,
department or body that are currently necessary for the operation of the
business of the Company as currently conducted except where the failure to
currently possess could not, individually or in the aggregate, reasonably be
expected to have a Material Adverse Effect.

               4.8 INTELLECTUAL PROPERTY.

                      (a) The Company has ownership or license or legal right to
use all material patent, copyright, trade secret and trademark rights known by
it to be necessary to the conduct of the business of the Company as now
conducted (collectively, "Intellectual Property") other than Intellectual
Property generally available on commercial terms from other sources.

                      (b) All material licenses or other material agreements
under which (i) the Company is granted rights in Intellectual Property, other
than Intellectual Property generally available on commercial terms from other
sources, and (ii) the Company has granted rights to others in Intellectual
Property owned or licensed by the Company, are in full force and effect and, to
the knowledge of the Company, there is no material default by the Company or any
other party thereto.

                      (c) The Company believes it has taken all steps required
in accordance with sound business practice and business judgment to establish
and preserve its ownership of all material copyright, trade secret and other
proprietary rights with respect to its products and technology.

                                       4.
<PAGE>   6

                      (d) To the knowledge of the Company, the present business,
activities and products of the Company do not infringe any intellectual property
of any other person, except where such infringement would not, individually or
in the aggregate, have a Material Adverse Effect on the Company. Except as
described in the Company's SEC Documents, no proceeding charging the Company
with infringement of any adversely held Intellectual Property has been filed. To
the knowledge of the Company, the Company is not making unauthorized use of any
confidential information or trade secrets of any person. To the Company's
knowledge, the activities of the Company or any of its employees on behalf of
the Company do not violate any agreements or arrangements known to the Company
which any such employees have with other persons, if any.

               4.9 FINANCIAL STATEMENTS. The financial statements of the Company
and the related notes contained in the Company's SEC Documents present fairly,
in accordance with generally accepted accounting principles, the financial
position of the Company as of the dates indicated, and the results of its
operations and cash flows for the periods therein specified. Such financial
statements (including the related notes) have been prepared in accordance with
generally accepted accounting principles applied on a consistent basis
throughout the periods therein specified, except as disclosed in the Company's
SEC Documents.

               4.10 NO MATERIAL ADVERSE CHANGE. Except as disclosed in the
Company's press releases or other proprietary information provided to the
Investor in contemplation of this Offering, since September 30, 1999, there has
not been (i) any obligation, direct or contingent, that is material to the
Company, incurred by the Company, except obligations incurred in the ordinary
course of business, (ii) any dividend or distribution of any kind declared, paid
or made on the capital stock of the Company, (iii) any loss or damage (whether
or not insured) to the physical property of the Company which has been sustained
which, individually or in the aggregate, has a Material Adverse Effect; or (iv)
any other event or change that, individually or in the aggregate, would have a
Material Adverse Effect.

               4.11 NASDAQ COMPLIANCE. The Company's Common Stock is registered
pursuant to Section 12(g) of the Exchange Act and, as of the date hereof, is
listed on The Nasdaq National Market (the "Nasdaq Stock Market"), and the
Company has taken no action designed to, or likely to have the effect of,
terminating the registration of the Common Stock under the Exchange Act or
delisting the Common Stock from the Nasdaq Stock Market.

               4.12 REPORTING STATUS. The Company has filed in a timely manner
all documents that the Company was required to file under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), during the 12 months
preceding the date of this Agreement. The following documents complied in all
material respects with the SEC's requirements as of their respective filing
dates, and the information contained therein as of the date thereof did not
contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein in
light of the circumstances under where they were made not misleading:

                      (a) The Company's Annual Report on Form 10-K for the year
ended December 31, 1998 (the "10-K");

                                       5.
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                      (b) The Company's Quarterly Reports on Form 10-Q for each
of the quarters ended March 31, 1999, June 30, 1999 and September 30, 1999; and

                      (c) All other documents, if any, filed by the Company with
the Securities and Exchange Commission since December 31, 1998 pursuant to the
reporting requirements of the Exchange Act.

               4.13 LISTING. The Company shall comply with all requirements of
the National Association of Securities Dealers, Inc. with respect to the
issuance of the Shares and the listing thereof on the Nasdaq Stock Market.

               4.14 FOREIGN CORRUPT PRACTICES. Neither the Company nor, to the
knowledge of the Company, any agent or other person acting on behalf of the
Company, have (i) directly or indirectly, used any corporate funds for unlawful
contributions, gifts, entertainment or other unlawful expenses related to
foreign or domestic political activity, (ii) made any unlawful payment to
foreign or domestic government officials or employees or to foreign or domestic
political parties or campaigns from corporate funds, (iii) failed to disclose
fully any contribution made by the Company or made by any person acting on its
behalf and of which the Company is aware in violation of law or (iv) violated in
any material respect any provision of the Foreign Corrupt Practices Act of 1977,
as amended.

               4.15 NO MANIPULATION OF STOCK. The Company has not taken and will
not, in violation of applicable law, take, any action designed to or that might
reasonably be expected to cause or result in unlawful manipulation of the price
of the Common Stock to facilitate the sale or resale of the Shares.

               4.16 NO MATERIAL SUBSIDIARIES. The Company has no subsidiaries
that, individually or in the aggregate, conduct any material business activities
or have any material assets or liabilities (whether fixed or contingent).

               4.17 LEGAL OPINION. The Company shall cause to be delivered to
the Investors by counsel to the Company a legal opinion pertaining to the
availability of an exemption from the registration provisions of the Securities
Act.

               4.18 OTHER AGREEMENTS. In the event that more than one Investor
participates in the Offering, each Stock Purchase Agreement between the Company
and each Investor shall contain substantially identical terms. In the event that
any Stock Purchase Agreement between the Company and another Investor in this
Offering shall contain terms more favorable to such Investor than provided
herein, after taking into account any other consideration provided, this
Agreement shall be amended to reflect those more favorable terms.

        5. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE INVESTOR.

               5.1 The Investor represents and warrants to, and covenants with,
the Company that: (i) the Investor is an "accredited investor" as defined in
Regulation D under the Securities Act and the Investor is also knowledgeable,
sophisticated and experienced in making, and is qualified to make decisions with
respect to, investments in shares presenting an investment

                                       6.
<PAGE>   8

decision like that involved in the purchase of the Shares, including investments
in securities issued by the Company and investments in comparable companies, and
has requested, received, reviewed and considered all information it deemed
relevant in making an informed decision to purchase the Shares; (ii) the
Investor is acquiring the number of Shares set forth on the Signature Page
hereto in the ordinary course of its business and for its own account for
investment only and with no present intention of distributing any of such Shares
or any arrangement or understanding with any other persons regarding the
distribution of such Shares; (iii) the Investor will not, directly or
indirectly, offer, sell, pledge, transfer or otherwise dispose of (or solicit
any offers to buy, purchase or otherwise acquire or take a pledge of) any of the
Shares except in compliance with the Securities Act, applicable state securities
laws and the respective rules and regulations promulgated thereunder; (iv) the
Investor has answered all questions on the Signature Page hereto and the
Investor Questionnaire attached hereto as Exhibit B for use in preparation of
the Registration Statement and the answers thereto are true and correct in all
material respects as of the date hereof and will be true and correct in all
material respects as of the Closing Date; (v) the Investor will notify the
Company immediately of any material change in any of such information referred
to in the preceding clause (iv) until such time as the Investor has sold all of
its Shares or until the Company is no longer required to keep the Registration
Statement effective; and (vi) the Investor has, in connection with its decision
to purchase the number of Shares set forth on the signature page hereto, relied
only upon the Company Information provided to the Investor by the Company in
contemplation of this offering and the representations and warranties of the
Company contained herein. Investor understands that its acquisition of the
Shares has not been registered under the Securities Act of 1933, as amended (the
"Securities Act"), or registered or qualified under any state securities law in
reliance on specific exemptions therefrom, which exemptions may depend upon,
among other things, the bona fide nature of the Investor's investment intent as
expressed herein. Investor has completed or caused to be completed and delivered
to the Company the Investor Questionnaire attached hereto Exhibit B, which
questionnaire is true and correct in all material respects.

               5.2 The Investor acknowledges, represents and agrees that no
action has been or will be taken in any jurisdiction outside the United States
by the Company or the Placement Agent that would permit an offering of the
Shares, or possession or distribution of offering materials in connection with
the issue of the Shares, in any jurisdiction outside the United States where
action for that purpose is required. Each Investor outside the United States
will comply with all applicable laws and regulations in each foreign
jurisdiction in which it purchases, offers, sells or delivers Shares or has in
its possession or distributes any offering material, in all cases at its own
expense. The Placement Agents have not been authorized to make any
representation or use any information in connection with the issue, placement,
purchase and sale of the Shares.

               5.3 The Investor hereby covenants with the Company not to make
any sale of the Shares without complying in all material respects with the
provisions of this Agreement, including Section 7.2 hereof, and, if applicable,
without effectively causing the prospectus delivery requirement under the
Securities Act to be satisfied, and the Investor acknowledges that the
certificates evidencing the Shares will be imprinted with a legend that
prohibits their transfer except in accordance therewith. The Investor
acknowledges that there may occasionally be times when the Company, based on the
advice of its counsel, determines that it must suspend the use of the Prospectus
forming a part of the Registration Statement (as defined herein) until such time
as

                                       7.
<PAGE>   9

an amendment to the Registration Statement has been filed by the Company and
declared effective by the SEC or until the Company has amended or supplemented
such Prospectus.

               5.4 The Investor further represents and warrants to, and
covenants with, the Company that (i) the Investor has full right, power,
authority and capacity to enter into this Agreement and to consummate the
transactions contemplated hereby and has taken all necessary action to authorize
the execution, delivery and performance of this Agreement, and (ii) this
Agreement constitutes a valid and binding obligation of the Investor enforceable
against the Investor in accordance with its terms, except as enforceability may
be limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting creditors' and contracting parties' rights generally and
except as enforceability may be subject to general principles of equity
(regardless of whether such enforceability is considered in a proceeding in
equity or at law) and except as the indemnification agreements of the Investors
herein may be legally unenforceable.

               5.5 Other than in a transaction exempt from registration under
the Securities Act, Investor will not, prior to the effectiveness of the
Registration Statement, sell, offer to sell, solicit offers to buy, dispose of,
loan, pledge or grant any right with respect to (collectively, a "Disposition"),
the Common Stock of the Company, nor will Investor engage in any hedging or
other transaction which is designed to or could reasonably be expected to lead
to or result in a Disposition of Common Stock of the Company by the Investor or
any other person or entity. Such prohibited hedging or other transactions would
include, without limitation, effecting any short sale or having in effect any
short position (whether or not such sale or position is against the box and
regardless of when such position was entered into) or any purchase, sale or
grant of any right (including, without limitation, any put or call option) with
respect to the Common Stock of the Company or with respect to any security
(other than a broad-based market basket or index) that includes, relates to or
derives any significant part of its value from the Common Stock of the Company.

               5.6 The Investor understands that nothing in this Agreement or
any other materials presented to the Investor in connection with the purchase
and sale of the Shares constitutes legal, tax or investment advice. The Investor
has consulted such legal, tax and investment advisors as it, in its sole
discretion, has deemed necessary or appropriate in connection with its purchase
of Shares.

        6. SURVIVAL OF REPRESENTATIONS, WARRANTIES AND AGREEMENTS.
Notwithstanding any investigation made by any party to this Agreement or by the
Placement Agents, all covenants, agreements, representations and warranties made
by the Company and the Investor herein shall survive the execution of this
Agreement, the delivery to the Investor of the Shares being purchased and the
payment therefor.

        7. REGISTRATION OF THE SHARES; COMPLIANCE WITH THE SECURITIES ACT.

               7.1 REGISTRATION PROCEDURES AND EXPENSES. The Company shall:

                      (a) subject to receipt of necessary information from the
Investors, prepare and file with the SEC, as soon as practicable, but in no
event later than thirty (30) days

                                       8.
<PAGE>   10

after the Closing Date, a registration statement on Form S-3 (the "Registration
Statement") to enable the resale of the Shares by the Investors from time to
time through the automated quotation system of the Nasdaq Stock Market or in
privately-negotiated transactions; provided, however, that in the even Form S-3
is not available to the Company at any time after the date of this Agreement,
the Company shall file such other form as may be available if holders who hold
Shares with a market value of at least One Million Dollars ($1,000,000) deliver
a written request to the Company that the Company do so, where such market value
is determined as of the date of such written request. Any such registration
statement filed pursuant to the above provision shall be considered a
"Registration Statement" for purposes of Agreement.

                      (b) use its reasonable efforts, subject to receipt of
necessary information from the Investors, to cause the Registration Statement to
become effective as soon as practicable, and shall use its best efforts, subject
to receipt of necessary information from the Investors, to cause the
Registration Statement to become effective not later than one hundred twenty
(120) days after the Closing Date. In the event such Registration Statement is
not effective at the expiration of such 120-day period, the Company shall
continue to use all reasonable commercial efforts to cause it to become
effective until it becomes effective.

                      (c) prepare and file with the SEC such amendments and
supplements to the Registration Statement and the Prospectus used in connection
therewith as may be necessary to keep the Registration Statement current and
effective for a period not exceeding, with respect to each Investor's Shares
purchased hereunder, the earlier of (i) the second anniversary of the Closing
Date, (ii) the date on which the Investor may sell all Shares then held by the
Investor without restriction under Rule 144(k) of the Securities Act or (iii)
such time as all Shares purchased by such Investor in this Offering have been
sold pursuant to a registration statement.

                      (d) furnish to the Placement Agents and to the Investor
with respect to the Shares registered under the Registration Statement such
number of copies of the Registration Statement, Prospectuses and Preliminary
Prospectuses in conformity with the requirements of the Securities Act and such
other documents as they may reasonably request, in order to facilitate the
public sale or other disposition of all or any of the Shares by the Investor,
provided, however, that the obligation of the Company to deliver copies of
Prospectuses or Preliminary Prospectuses to the Investor shall be subject to the
receipt by the Company of reasonable assurances from the Investor that the
Investor will comply with the applicable provisions of the Securities Act and of
such other securities or blue sky laws as may be applicable in connection with
any use of such Prospectuses or Preliminary Prospectuses;

                      (e) file documents required of the Company for normal blue
sky clearance in states specified in writing by the Investor, provided, however,
that the Company shall not be required to qualify to do business or consent to
service of process generally in any jurisdiction in which it is not now so
qualified or has not so consented;

                      (f) bear all expenses in connection with the procedures in
paragraph (a) through (e) of this Section 7.1 and the registration of the Shares
pursuant to the Registration Statement; and

                                       9.
<PAGE>   11

                      (g) advise the Investors, promptly after it shall receive
notice or obtain knowledge of the issuance of any stop order by the SEC delaying
or suspending the effectiveness of the Registration Statement or of the
initiation of any proceeding for that purpose; and it will promptly use its
commercially reasonable efforts to prevent the issuance of any stop order or to
obtain its withdrawal at the earliest possible moment if such stop order should
be issued.

        It shall be a condition precedent to the obligations of the Company to
take any action pursuant to this Section 7.1 that the Investor shall furnish to
the Company such information regarding itself, the Shares to be sold by
Investor, and the intended method of disposition of such securities as shall be
reasonably required to effect the registration of the Shares.

        The Company understands that the Investor disclaims being an
underwriter, but the Investor being deemed an underwriter by the SEC shall not
relieve the Company of any obligations it has hereunder, provided, however, that
if the Company receives notification from the SEC that the Investor is deemed an
underwriter, then the period by which the Company is obligated to submit an
acceleration request to the SEC shall be extended to the earlier of (i) the 90th
day after such SEC notification, or (ii) 120 days after the initial filing of
the Registration Statement with the SEC.

               7.2 TRANSFER OF SHARES AFTER REGISTRATION; SUSPENSION.

                      (a) The Investor agrees that it will not effect any
Disposition of the Shares or its right to purchase the Shares that would
constitute a sale within the meaning of the Securities Act except (i) as
contemplated in the Registration Statement referred to in Section 7.1 and as
described below, or (ii) in a transaction exempt from registration under the
Securities Act, and that it will promptly notify the Company of any changes in
the information set forth in the Registration Statement regarding the Investor
or its plan of distribution.

                      (b) Subject to paragraph (c) below (if applicable), the
Company shall: (i) if deemed necessary by the Company, prepare and file from
time to time with the SEC a post-effective amendment to the Registration
Statement or a supplement to the related Prospectus or a supplement or amendment
to any document incorporated therein by reference or file any other required
document so that such Registration Statement will not contain an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading, and
so that, as thereafter delivered to purchasers of the Shares being sold
thereunder, such Prospectus will not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they
were made, not misleading; (ii) provide the Investor copies of any documents
filed pursuant to Section 7.2(b)(i); and (iii) inform each Investor that the
Company has complied with its obligations in Section 7.2(b)(i) (or that, if the
Company has filed a post-effective amendment to the Registration Statement which
has not yet been declared effective, the Company will notify the Investor to
that effect, will use its reasonable efforts to secure the effectiveness of such
post-effective amendment as promptly as possible and will promptly notify the
Investor pursuant to Section 7.2(b)(i) hereof when the amendment has become
effective).

                                      10.
<PAGE>   12

                      (c) Subject to paragraph (d) below, in the event: (i) of
any request by the SEC or any other federal or state governmental authority
during the period of effectiveness of the Registration Statement for amendments
or supplements to a Registration Statement or related Prospectus or for
additional information; (ii) of the issuance by the SEC or any other federal or
state governmental authority of any stop order suspending the effectiveness of a
Registration Statement or the initiation of any proceedings for that purpose;
(iii) of the receipt by the Company of any notification with respect to the
suspension of the qualification or exemption from qualification of any of the
Shares for sale in any jurisdiction or the initiation of any proceeding for such
purpose; or (iv) of any event or circumstance which necessitates the making of
any changes in the Registration Statement or Prospectus, or any document
incorporated or deemed to be incorporated therein by reference, so that, in the
case of the Registration Statement, it will not contain any untrue statement of
a material fact or any omission to state a material fact required to be stated
therein or necessary to make the statements therein not misleading, and that in
the case of the Prospectus, it will not contain any untrue statement of a
material fact or any omission to state a material fact required to be stated
therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; then the Company shall
deliver a certificate in writing to the Investor (the "Suspension Notice") to
the effect of the foregoing and, upon receipt of such Suspension Notice, the
Investor will refrain from selling any Shares pursuant to the Registration
Statement (a "Suspension") until the Investor's receipt of copies of a
supplemented or amended Prospectus prepared and filed by the Company, or until
it is advised in writing by the Company that the current Prospectus may be used,
and has received copies of any additional or supplemental filings that are
incorporated or deemed incorporated by reference in any such Prospectus. In the
event of any Suspension, the Company will use its reasonable efforts to cause
the use of the Prospectus so suspended to be resumed as soon as reasonably
practicable within 20 business days after delivery of a Suspension Notice to the
Investors. In addition to and without limiting any other remedies (including,
without limitation, at law or at equity) available to the Investor, the Investor
shall be entitled to specific performance in the event that the Company fails to
comply with the provisions of this Section 7.2(c).

                      (d) Notwithstanding the foregoing paragraphs of this
Section 7.2, the Investor shall not be prohibited from selling Shares under the
Registration Statement as a result of Suspensions on more than two occasions of
not more than 30 days each in any twelve month period, unless, in the good faith
judgment of the Company's Board of Directors, upon advice of counsel, the sale
of Shares under the Registration Statement in reliance on this paragraph 7.2(d)
would be reasonably likely to cause a violation of the Securities Act or the
Exchange Act and result in potential liability to the Company.

                      (e) Provided that a Suspension is not then in effect the
Investor may sell Shares under the Registration Statement, provided that it
arranges for delivery of a current Prospectus to the transferee of such Shares.
Upon receipt of a request therefor, the Company has agreed to provide an
adequate number of current Prospectuses to the Investor and to supply copies to
any other parties requiring such Prospectuses.

                      (f) In the event of a sale of Shares by the Investor, the
Investor must also deliver to the Company's transfer agent, with a copy to the
Company, a Certificate of

                                      11.
<PAGE>   13

Subsequent Sale substantially in the form attached hereto as Exhibit C, so that
the shares may be properly transferred.

               7.3 INDEMNIFICATION. For the purpose of this Section 7.3:

                      (a) the term "Selling Stockholder" shall include the
Investor and any affiliate, officer, director, employee or control person (as
defined by Section 15 of the Securities Act) of such Investor;

                      (b) the term "Registration Statement" shall include any
final Prospectus, exhibit, supplement or amendment included in or relating to
the Registration Statement referred to in Section 7.1; and

                      (c) the term "untrue statement" shall include any untrue
statement or alleged untrue statement, or any omission or alleged omission to
state in the Registration Statement a material fact required to be stated
therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading.

                             (i) The Company agrees to indemnify and hold
harmless each Selling Stockholder from and against any losses, claims, damages
or liabilities to which such Selling Stockholder may become subject (under the
Securities Act or otherwise) insofar as such losses, claims, damages or
liabilities (or actions or proceedings in respect thereof) arise out of, or are
based upon (i) any untrue statement of a material fact contained in the
Registration Statement, or (ii) any failure by the Company to fulfill any
undertaking included in the Registration Statement, and the Company will
reimburse such Selling Stockholder for any reasonable legal or other expenses
reasonably incurred in investigating, defending or preparing to defend any such
action, proceeding or claim, provided, however, that the Company shall not be
liable in any such case to the extent that such loss, claim, damage or liability
arises out of, or is based upon, an untrue statement made in such Registration
Statement in reliance upon and in conformity with written information furnished
to the Company by or on behalf of such Selling Stockholder specifically for use
in preparation of the Registration Statement or any statement or omission in any
Prospectus that is corrected in any subsequent Prospectus that was delivered to
the Investor prior to the pertinent sale or sales by the Investor.

                             (ii) The Investor agrees to indemnify and hold
harmless the Company (and each person, if any, who controls the Company within
the meaning of Section 15 of the Securities Act, each officer of the Company who
signs the Registration Statement and each director of the Company) from and
against any losses, claims, damages or liabilities to which the Company (or any
such officer, director or controlling person) may become subject (under the
Securities Act or otherwise), insofar as such losses, claims, damages or
liabilities (or actions or proceedings in respect thereof) arise out of, or are
based upon any untrue statement of a material fact contained in the Registration
Statement if such untrue statement was made in reliance upon and in conformity
with written information furnished by or on behalf of the Investor specifically
for use in preparation of the Registration Statement, and the Investor will
reimburse the Company (or such officer, director or controlling person), as the
case may be, for any legal or other expenses reasonably incurred in
investigating, defending or preparing to defend any such action, proceeding or
claim.

                                      12.
<PAGE>   14

                             (iii) Promptly after receipt by any indemnified
person of a notice of a claim or the beginning of any action in respect of which
indemnity is to be sought against an indemnifying person pursuant to this
Section 7.3, such indemnified person shall notify the indemnifying person in
writing of such claim or of the commencement of such action, but the omission to
so notify the indemnifying party will not relieve it from any liability which it
may have to any indemnified party under this Section 7.3 (except to the extent
that such omission materially and adversely affects the indemnifying party's
ability to defend such action) or from any liability otherwise than under this
Section 7.3. Subject to the provisions hereinafter stated, in case any such
action shall be brought against an indemnified person, the indemnifying person
shall be entitled to participate therein, and, to the extent that it shall elect
by written notice delivered to the indemnified party promptly after receiving
the aforesaid notice from such indemnified party, shall be entitled to assume
the defense thereof, with counsel reasonably satisfactory to such indemnified
person. After notice from the indemnifying person to such indemnified person of
its election to assume the defense thereof, such indemnifying person shall not
be liable to such indemnified person for any legal expenses subsequently
incurred by such indemnified person in connection with the defense thereof,
provided, however, that if there exists or shall exist a conflict of interest
that would make it inappropriate, in the reasonable opinion of counsel to the
indemnified person, for the same counsel to represent both the indemnified
person and such indemnifying person or any affiliate or associate thereof, the
indemnified person shall be entitled to retain its own counsel at the expense of
such indemnifying person; provided, however, that no indemnifying person shall
be responsible for the fees and expenses of more than one separate counsel
(together with appropriate local counsel) for all indemnified parties (unless in
the reasonable judgment of an indemnified party, there exists a conflict of
interest between such indemnified person and any other indemnified person, in
which case the indemnifying person shall be obligated to pay the reasonable fees
and expenses of additional counsel). In no event shall any indemnifying person
be liable in respect of any amounts paid in settlement of any action unless the
indemnifying person shall have approved the terms of such settlement; provided
that such consent shall not be unreasonably withheld. No indemnifying person
shall, without the prior written consent of the indemnified person, effect any
settlement of any pending or threatened proceeding in respect of which any
indemnified person is or could have been a party and indemnification could have
been sought hereunder by such indemnified person, unless such settlement
includes an unconditional release of such indemnified person from all liability
on claims that are the subject matter of such proceeding.

                             (iv) If the indemnification provided for in this
Section 7.3 is unavailable to or insufficient to hold harmless an indemnified
party under subsection (a) or (b) above in respect of any losses, claims,
damages or liabilities (or actions or proceedings in respect thereof) referred
to therein, then each indemnifying party shall contribute to the amount paid or
payable by such indemnified party as a result of such losses, claims, damages or
liabilities (or actions in respect thereof) in such proportion as is appropriate
to reflect the relative fault of the Company on the one hand and the Investors
on the other in connection with the statements or omissions or other matters
which resulted in such losses, claims, damages or liabilities (or actions in
respect thereof), as well as any other relevant equitable considerations. The
relative fault shall be determined by reference to, among other things, in the
case of an untrue statement, whether the untrue statement relates to information
supplied by the Company on the one hand or an Investor on the other and the
parties' relative intent, knowledge, access to information and

                                      13.
<PAGE>   15

opportunity to correct or prevent such untrue statement. The Company and the
Investors agree that it would not be just and equitable if contribution pursuant
to this subsection (d) were determined by pro rata allocation (even if the
Investors were treated as one entity for such purpose) or by any other method of
allocation which does not take into account the equitable considerations
referred to above in this subsection (d). The amount paid or payable by an
indemnified party as a result of the losses, claims, damages or liabilities (or
actions in respect thereof) referred to above in this subsection (d) shall be
deemed to include any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending any such action
or claim. Notwithstanding the provisions of this subsection (d), no Investor
shall be required to contribute any amount in excess of the amount by which the
gross amount received by the Investor from the sale of the Shares to which such
loss relates exceeds the amount of any damages which such Investor has otherwise
been required to pay by reason of such untrue statement. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. The Investors' obligations in this
subsection to contribute are several in proportion to their sales of Shares to
which such loss relates and not joint.

                             (v) The parties to this Agreement hereby
acknowledge that they are sophisticated business persons who were represented by
counsel during the negotiations regarding the provisions hereof including,
without limitation, the provisions of this Section 7.3, and are fully informed
regarding said provisions. They further acknowledge that the provisions of this
Section 7.3 fairly allocate the risks in light of the ability of the parties to
investigate the Company and its business in order to assure that adequate
disclosure is made in the Registration Statement as required by the Act and the
Exchange Act. The parties are advised that federal or state public policy as
interpreted by the courts in certain jurisdictions may be contrary to certain of
the provisions of this Section 7.3, and the parties hereto hereby expressly
waive and relinquish any right or ability to assert such public policy as a
defense to a claim under this Section 7.3 and further agree not to attempt to
assert any such defense.

               7.4 TERMINATION OF CONDITIONS AND OBLIGATIONS. The conditions
precedent imposed by Section 5 or this Section 7 upon the transferability of the
Shares shall cease and terminate as to any particular number of the Shares when
such Shares shall have been effectively registered under the Securities Act and
sold or otherwise disposed of in accordance with the intended method of
disposition set forth in the Registration Statement covering such Shares or at
such time as an opinion of counsel satisfactory to the Company shall have been
rendered to the effect that such conditions are not necessary in order to comply
with the Securities Act.

               7.5 INFORMATION AVAILABLE. So long as the Registration Statement
is effective covering the resale of Shares owned by the Investor, the Company
will furnish to the Investor:

                      (a) as soon as practicable after it is available, one copy
of (i) its Annual Report to Stockholders (which Annual Report shall contain
financial statements audited in accordance with generally accepted accounting
principles by a national firm of certified public accountants) and (ii) if not
included in substance in the Annual Report to Stockholders, its Annual Report on
Form 10-K (the foregoing, in each case, excluding exhibits);

                                      14.
<PAGE>   16

                      (b) upon the reasonable request of the Investor, all
exhibits excluded by the parenthetical to subparagraph (a)(ii) of this Section
7.5 as filed with the SEC and all other information that is made available to
shareholders; and

                      (c) upon the reasonable request of the Investor, an
adequate number of copies of the Prospectuses to supply to any other party
requiring such Prospectuses; and the Company, upon the reasonable request of the
Investor, will meet with the Investor or a representative thereof at the
Company's headquarters to discuss all information relevant for disclosure in the
Registration Statement covering the Shares and will otherwise cooperate with any
Investor conducting an investigation for the purpose of reducing or eliminating
such Investor's exposure to liability under the Securities Act, including the
reasonable production of information at the Company's headquarters; provided,
that the Company shall not be required to disclose any confidential information
to or meet at its headquarters with any Investor until and unless the Investor
shall have entered into a confidentiality agreement in form and substance
reasonably satisfactory to the Company with the Company with respect thereto.

        8. NOTICES. All notices, requests, consents and other communications
hereunder shall be in writing, shall be mailed (A) if within domestic United
States by first-class registered or certified airmail, or nationally recognized
overnight express courier, postage prepaid, or by facsimile, or (B) if delivered
from outside the United States, by International Federal Express or facsimile,
and shall be deemed given (i) if delivered by first-class registered or
certified mail domestic, three business days after so mailed, (ii) if delivered
by nationally recognized overnight carrier, one (1) business day after so
mailed, (iii) if delivered by International Federal Express, two (2) business
days after so mailed, (iv) if delivered by facsimile, upon electric confirmation
of receipt and shall be delivered as addressed as follows:

                      (a)    if to the Company, to:

                             Amylin Pharmaceuticals, Inc.
                             9373 Towne Centre Drive
                             San Diego, California 92121

                             Attn: Nancy K. Dahl
                             Vice President and General Counsel
                             Phone:  (858) 642-7271
                             Telecopy:  (858) 552-1939

                      (b)    with a copy mailed to:

                             Cooley Godward LLP
                             4365 Executive Drive, Suite 1100
                             San Diego, CA  92121

                             Attn: Thomas A. Coll
                             Phone: (858) 550-6013
                             Telecopy: (858) 453-3555

                                      15.
<PAGE>   17

                      (c) if to the Investor, at its address on the Signature
Page hereto, or at such other address or addresses as may have been furnished to
the Company in writing.

        9. CHANGES. This Agreement may not be modified or amended except
pursuant to an instrument in writing signed by the Company and the Investor.

        10. HEADINGS. The headings of the various sections of this Agreement
have been inserted for convenience of reference only and shall not be deemed to
be part of this Agreement.

        11. SEVERABILITY. In case any provision contained in this Agreement
should be invalid, illegal or unenforceable in any respect, the validity,
legality and enforceability of the remaining provisions contained herein shall
not in any way be affected or impaired thereby.

        12. GOVERNING LAW. This Agreement shall be governed by, and construed in
accordance with, the internal laws of the State of California, without giving
effect to the principles of conflicts of law.

        13. COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall constitute an original, but all of which, when
taken together, shall constitute but one instrument, and shall become effective
when one or more counterparts have been signed by each party hereto and
delivered to the other parties.

        14. CONFIDENTIAL DISCLOSURE AGREEMENT. Notwithstanding any provision of
this Agreement to the contrary, any confidential disclosure agreement previously
executed by the Company and the Investor in connection with the transactions
contemplated by this Agreement shall remain in full force and effect in
accordance with its terms following the execution of this Agreement and the
consummation of the transactions contemplated hereby.

                                      16.
<PAGE>   18

                                    EXHIBIT A

                          AMYLIN PHARMACEUTICALS, INC.

                         STOCK CERTIFICATE QUESTIONNAIRE

        Pursuant to Section 5 of the Agreement, please provide us with the
following information:

1.      The exact name that your Shares are to be        _______________________
        registered in (this is the name that will appear
        on your stock certificate(s)). You may use a
        nominee name if appropriate:

2.      The relationship between the Investor and the    _______________________
        registered holder listed in response to item 1
        above:

3.      The mailing address of the registered holder     _______________________
        listed in response to item 1 above:

4.      The Social Security Number or Tax                _______________________
        Identification Number of the registered holder
        listed in the response to item 1 above:

A-1.
<PAGE>   19
                                    EXHIBIT B

                          AMYLIN PHARMACEUTICALS, INC.

                             INVESTOR QUESTIONNAIRE

                (ALL INFORMATION WILL BE TREATED CONFIDENTIALLY)

To:  Amylin Pharmaceuticals, Inc.

        This Investor Questionnaire ("Questionnaire") must be completed by each
potential investor in connection with the offer and sale of the shares of the
common stock, par value $0.001 per share, of Amylin Pharmaceuticals, Inc. (the
"Securities"). The Securities are being offered and sold by Amylin
Pharmaceuticals, Inc. (the "Corporation") without registration under the
Securities Act of 1933, as amended (the "Act"), and the securities laws of
certain states, in reliance on the exemptions contained in Section 4(2) of the
Act and on Regulation D promulgated thereunder and in reliance on similar
exemptions under applicable state laws. The Corporation must determine that a
potential investor meets certain suitability requirements before offering or
selling Securities to such investor. The purpose of this Questionnaire is to
assure the Corporation that each investor will meet the applicable suitability
requirements. The information supplied by you will be used in determining
whether you meet such criteria, and reliance upon the private offering exemption
from registration is based in part on the information herein supplied.

        This Questionnaire does not constitute an offer to sell or a
solicitation of an offer to buy any security. Your answers will be kept strictly
confidential. However, by signing this Questionnaire you will be authorizing the
Corporation to provide a completed copy of this Questionnaire to such parties as
the Corporation deems appropriate in order to ensure that the offer and sale of
the Securities will not result in a violation of the Act or the securities laws
of any state and that you otherwise satisfy the suitability standards applicable
to purchasers of the Securities. All potential investors must answer all
applicable questions and complete, date and sign this Questionnaire. Please
print or type your responses and attach additional sheets of paper if necessary
to complete your answers to any item.

A.      BACKGROUND INFORMATION

Name:
     ---------------------------------------------------------------------------

Business Address:
                 ---------------------------------------------------------------
                               (Number and Street)

--------------------------------------------------------------------------------
(City)                              (State)                       (Zip Code)

Telephone Number:  (     )
                          ------------------------------------------------------

Residence Address:
                  --------------------------------------------------------------
                               (Number and Street)

--------------------------------------------------------------------------------
(City)                              (State)                       (Zip Code)

Telephone Number:  (     )
                          ------------------------------------------------------

If an individual:

Age:              Citizenship:               Where registered to vote:
    ------                    ----------                              ----------

If a corporation, partnership, limited liability company, trust or other entity:

Type of entity:
               -----------------------------------------------------------------

State of formation:                           Date of formation:
                   --------------                               ----------------

Social Security or Taxpayer Identification No.
                                              ----------------------------------

Send all correspondence to (check one):       Residence Address
                                         ----
                                              Business Address
                                         ----

B-1.
<PAGE>   20

B.      STATUS AS ACCREDITED INVESTOR

The undersigned is an "accredited investor" as such term is defined in
Regulation D under the Act, as at the time of the sale of the Securities the
undersigned falls within one or more of the following categories (Please initial
one or more, as applicable):(1)

_____(1) a bank as defined in Section 3(a)(2) of the Act, or a savings and loan
association or other institution as defined in Section 3(a)(5)(A) of the Act
whether acting in its individual or fiduciary capacity; a broker or dealer
registered pursuant to Section 15 of the Securities Exchange Act of 1934; an
insurance company as defined in Section 2(13) of the Act; an investment company
registered under the Investment Corporation Act of 1940 or a business
development company as defined in Section 2(a)(48) of that Act; a Small Business
Investment Corporation licensed by the U.S. Small Business Administration under
Section 301(c) or (d) of the Small Business Investment Act of 1958; a plan
established and maintained by a state, its political subdivisions, or any agency
or instrumentality of a state or its political subdivisions for the benefit of
its employees, if such plan has total assets in excess of $5,000,000; an
employee benefit plan within the meaning of the Employee Retirement Income
Security Act of 1974 if the investment decision is made by a plan fiduciary, as
defined in Section 3(21) of such Act, which is either a bank, savings and loan
association, insurance company, or registered investment adviser, or if the
employee benefit plan has total assets in excess of $5,000,000 or, if a
self-directed plan, with the investment decisions made solely by persons that
are accredited investors;(1)

_____(2) a private business development company as defined in Section 202(a)(22)
of the Investment Adviser Act of 1940;

_____(3) an organization described in Section 501(c)(3) of the Internal Revenue
Code of 1986, as amended, corporation, Massachusetts or similar business trust,
or partnership, not formed for the specific purpose of acquiring the Securities
offered, with total assets in excess of $5,000,000;

_____(4) a natural person whose individual net worth, or joint net worth with
that person's spouse, at the time of such person's purchase of the Securities
exceeds $1,000,000;

_____(5) a natural person who had an individual income in excess of $200,000 in
each of the two most recent years or joint income with that person's spouse in
excess of $300,000 in each of those years and has a reasonable expectation of
reaching the same income level in the current year;

_____(6) a trust, with total assets in excess of $5,000,000, not formed for the
specific purpose of acquiring the Securities offered, whose purchase is directed
by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D;
and

_____(7) an entity in which all of the equity owners are accredited investors
(as defined above).

----------

(1) As used in this Questionnaire, the term "net worth" means the excess of
total assets over total liabilities. In computing net worth for the purpose of
subsection (4), the principal residence of the investor must be valued at cost,
including cost of improvements, or at recently appraised value by an
institutional lender making a secured loan, net of encumbrances. In determining
income, the investor should add to the investor's adjusted gross income any
amounts attributable to tax exempt income received, losses claimed as a limited
partner in any limited partnership, deductions claimed for depiction,
contributions to an IRA or KEOGH retirement plan, alimony payments, and any
amount by which income from long-term capital gains has been reduced in arriving
at adjusted gross income.

B-2.
<PAGE>   21

C.      REPRESENTATIONS

The undersigned hereby represents and warrants to the Corporation as follows:

        1. Any purchase of the Securities would be solely for the account of the
undersigned and not for the account of any other person or with a view to any
resale, fractionalization, division, or distribution thereof.

        2. The information contained herein is complete and accurate and may be
relied upon by the Corporation, and the undersigned will notify the Corporation
immediately of any material change in any of such information occurring prior to
the closing, if any, with respect to the purchase of Securities by the
undersigned or any co-purchaser.

        3. There are no suits, pending litigation, or claims against the
undersigned that could materially affect the net worth of the undersigned as
reported in this Questionnaire.

        4. The undersigned acknowledges that there may occasionally be times
when the Corporation, based on the advice of its counsel, determines that it
must suspend the use of the Prospectus forming a part of the Registration
Statement (as such terms are defined in the Stock Purchase Agreement to which
this Questionnaire is attached) until such time as an amendment to the
Registration Statement has been filed by the Company and declared effective by
the Securities and Exchange Commission or until the Corporation has amended or
supplemented such Prospectus. The undersigned is aware that, in such event, the
Securities will not be subject to ready liquidation, and that any Securities
purchased by the undersigned would have to be held during such suspension. The
overall commitment of the undersigned to investments which are not readily
marketable is not excessive in view of the undersigned's net worth and financial
circumstances, and any purchase of the Securities will not cause such commitment
to become excessive. The undersigned is able to bear the economic risk of an
investment in the Securities.

        5. In addition to reviewing the Corporation's Confidential Offering
Memorandum, the undersigned has carefully considered the potential risks
relating to the Corporation and a purchase of the Securities, and fully
understands that the Securities are speculative investments which involve a high
degree of risk of loss of the undersigned's entire investment. Among others, the
undersigned has carefully considered each of the risks described under the
heading "Risk Factors" in the Corporation's most recent annual report on Form
10-K.

IN WITNESS WHEREOF, the undersigned has executed this Questionnaire this _____
day of _____________, 2000, and declares under oath that it is truthful and
correct.

                                   Print Name

                                   By:
                                      ------------------------------------------
                                   Signature

                                   Title:
                                         ---------------------------------------
                                         (required for any purchaser that is
                                         a corporation, partnership, trust or
                                         other entity)

B-3.
<PAGE>   22

                                    EXHIBIT C

                          AMYLIN PHARMACEUTICALS, INC.

                         CERTIFICATE OF SUBSEQUENT SALE

ChaseMellon Shareholder Services

        RE:    Sale of Shares of Common Stock of Amylin Pharmaceuticals, Inc.
               (the "Company") pursuant to the Company's Prospectus dated
               _______________, 2000 (the "Prospectus")

Dear Sir/Madam:

        The undersigned hereby certifies, in connection with the sale of shares
of Common Stock of the Company included in the table of Selling Shareholders in
the Prospectus, that the undersigned has sold the Shares pursuant to the
Prospectus and in a manner described under the caption "Plan of Distribution" in
the Prospectus and that such sale complies with all applicable securities laws,
including, without limitation, the Prospectus delivery requirements of the
Securities Act of 1933, as amended.

        Selling Shareholder (the beneficial owner):
                                                   -----------------------------

        Record Holder (e.g., if held in name of nominee):
                                                         -----------------------

        Restricted Stock Certificate No.(s):
                                            ------------------------------------

        Number of Shares Sold:
                              --------------------------------------------------

        Date of Sale:
                     -----------------------------------------------------------

        In the event that you receive a stock certificate(s) representing more
shares of Common Stock than have been sold by the undersigned, then you should
return to the undersigned a newly issued certificate for such excess shares in
the name of the Record Holder and BEARING A RESTRICTIVE LEGEND. Further, you
should place a stop transfer on your records with regard to such certificate.

                                        Very truly yours,

                                        By:
                                           -------------------------------------

                                        Print Name:
                                                   -----------------------------

                                        Title:
                                              ----------------------------------

Dated:
      -------------------

cc:     Legal Department
        Amylin Pharmaceuticals, Inc.
        9373 Towne Centre Drive
        San Diego, California  92121

<PAGE>   23

                             SCHEDULE OF PURCHASERS

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------
                                                       COMMON STOCK TO BE ISSUED
                 STOCKHOLDER                                 FOR INVESTMENT
--------------------------------------------------------------------------------
<S>                                                    <C>
Allen Andersson                                                1,333,334

Ralph M. D'Annucci                                                50,000

Clipperbay & Co., as Custodian for SMALLCAP                    1,845,833
World Fund, Inc.

Rescueboat & Co., as Custodian for The                         3,000,000
Growth Fund of America, Inc.

Pirate Ship & Co., as Custodian for Invesco                      325,000
Global Health Sciences Fund

SeaLion & Co., as Custodian for Invesco                          295,000
Health Sciences Fund

Above Anchor & Co., as Custodian for Invesco                       8,000
VIF - Health Sciences Fund

"Roytor & Co.", in Trust for State Street                         40,000
Trust Co. Canada Fund #ZM 75, as Custodian
for AIM Funds Management Inc., on behalf of
AIM Global Health Sciences Class of AIM
Global Fund Inc.

"Roytor & Co.", in Trust for State Street                         82,000
Trust Co. Canada Fund #KG 56, as Custodian
for AIM Funds Management Inc., on behalf of
AIM Global Health Sciences Fund

Deerfield Partners L.P.                                          740,000

Deerfield International Limited                                  260,000

Rumsfeld Family Trust                                             10,417

Donald H. Rumsfeld                                                10,417

MCP Global Corp. Ltd.                                            100,000

United Capital Management Inc.                                   100,000

Deltec Asset Management  Corporation                              50,000

Narragansett I, LP                                                60,833

Narragansett Offshore, Ltd.                                       22,500

TOTAL                                                          8,333,334
</TABLE><PAGE>   1
                                                                   EXHIBIT 10.44

                                           *** TEXT OMITTED AND FILED SEPARATELY
                                                CONFIDENTIAL TREATMENT REQUESTED
                                          UNDER 17 C.F.R. SECTIONS 200.80(b)(4),
                                                            200.83 AND 240.24b-2

                                    AGREEMENT

        THIS AGREEMENT is made by and among Ortho Biotech, a New Jersey
corporation, having a principal place of business at Route 202 South, Raritan,
New Jersey 08869-0602 ("Ortho Biotech"), Amylin Pharmaceuticals, Inc., a
Delaware Corporation having a principal place of business at 9373 Towne Centre
Drive, San Diego, California 92121 ("Amylin") and Bachem California, a
California corporation, having a principal place of business at 3132 Kashiwa
Street, Torrance, California 90505 ("Bachem"). References to any of Amylin or
Ortho Biotech, or Bachem includes reference to their respective Affiliates.

        WHEREAS, Bachem previously manufactured for Amylin a compound referred
to as pramlintide (also known as AC-137).

        WHEREAS, Amylin and LifeScan, Inc., an Affiliate of Ortho Biotech, have
entered in to a Collaboration Agreement dated June 20, 1995, under which they
are jointly developing and commercializing pramlintide.

        WHEREAS, Ortho Biotech, on behalf of Johnson and Johnson, wishes to
engage Bachem to manufacture validation lots and commercial supplies of
pramlintide in connection with the joint development and commercialization of
pramlintide by Amylin and LifeScan, Inc., pursuant to the Collaboration
Agreement.

        WHEREAS, Bachem now desires to manufacture for Ortho Biotech pramlintide
for use by Amylin and Ortho Biotech as validation batches for regulatory
registration in connection with pramlintide and to also produce for Ortho
Biotech commercial supplies of pramlintide; and

<PAGE>   2

        NOW, THEREFORE, in consideration of the premises and the mutual
covenants and agreements contained herein, Bachem, Ortho Biotech and Amylin
agree as follows:

        1. Definitions

           As used in this Agreement, the following words and phrases shall have
the following meanings:

           1.1 "Affiliate" of a party hereto means any entity which directly or
indirectly, through one or more intermediaries, controls, is controlled by or is
under common control with such party.

           1.2 "Commercial Lots" shall mean those lots described in Paragraph
2.2.

           1.3 "Effective Date" means the later date of execution written on the
execution page of this Agreement.

           1.4 "FDA" means the United States Food and Drug Administration and
any successor entity.

           1.5 "Product" means the bulk form of pramlintide (also known as
AC--137) which meets the Product Specifications.

           1.6 "Product Specifications" means the written specifications for
Product set forth in Exhibit 1 as amended from time to time pursuant to
Paragraph 3.1.

           1.7 "Validation Lots" shall man those lots described in Paragraph
2.2.

                                       2

<PAGE>   3

2. Purchase and Sale of Product

        2.1 Bachem agrees to manufacture and supply to Ortho Biotech and Ortho
Biotech agrees to purchase a total of at least [...***...] of bulk Product
using the optimized process described in the Batch Production Records that
resulted from the production of the qualification batches under the Materials
Purchase Contract No. 151 dated September 24, 1996 between Amylin and Bachem.
Manufacture is to start in [...***...] and continue through the year
[...***...].

        2.2 Bachem agrees to manufacture and supply the following quantities of
Product at the following times:

           A total of [...***...] over the period [...***...] in
accordance with the schedule below:

                                                 VALIDATION LOTS

        [...***...]                  [...***...] lots no later than [...***...]

                                                 COMMERCIAL LOTS

        [...***...]                  [...***...] lots by [...***...] pursuant
                                     to an issued Purchase Order.

        [...***...]                  [...***...] lots at a rate of approximately
                                     every [...***...] pursuant to an issued
                                     Purchase Order.

                                       3     * CONFIDENTIAL TREATMENT REQUESTED

<PAGE>   4

        [...***...]                  [...***...] lots at a rate of approximately
                                     every [...***...] in the year [...***...]
                                     pursuant to AN issued Purchase Order.

Purchase Orders will be issued at least six months in advance of the delivery
date for the individual Purchase Orders.

           2.3 The price for the Product shall be [...***...](gross weight)
F.O.B. Bachem's manufacturing facility in Torrance, California.

           2.4 Ortho Biotech agrees to participate with Bachem in the investment
of [...***...] for plant and equipment needed to assure timely manufacture and
delivery of Product pursuant to this Agreement, with title to all improvements
and equipment to remain with Bachem. Total investment costs for Ortho Biotech is
[...***...] of which [...***...] has already been paid prior to the Effective
Date, of which [...***...] shall become due and payable within thirty (30) days
of the Effective Date of the Agreement and the remaining [...***...] shall be
due and payable in the second quarter of 1997 and no later than the end of the
second quarter. Bachem agrees to invest the remaining [...***...]. Such monies
will be used to make the specific plant investments and to purchase the
equipment listed in Exhibit 2 attached hereto. Bachem represents and warrants
that all investments listed in Exhibit 2 in the plant and equipment are
necessary to produce Product, will be used on a priority basis for manufacture
of the Product and will be used to manufacture the [...***...] quantities of
Product described in Paragraph 2.1. Bachem further represents and warrants that
no additional capital investment will be necessary on the part of Ortho Biotech
to enable Bachem to produce the specified quantities at the times specified in
Paragraph 2.2 and that Bachem shall make all other necessary capital investments
to timely produce and deliver the quantities of Product

                                       4     * CONFIDENTIAL TREATMENT REQUESTED

<PAGE>   5

specified in Paragraph 2.2. Finally, Bachem represents and warrants that, after
the supply of the Validation Batches, a dedicated lab and production section
will be established and used for the supply of all Commercial Batches.

           2.5 Any federal, state, county or municipal sales or use tax, excise
or similar charge, or other tax assessment (other than that assessed against
income), license fee or other charge lawfully assessed or charged on the
manufacture, sale or transportation of Product sold pursuant to this Agreement
shall be paid by Ortho Biotech, provided evidence of such charge is provided to
Ortho Biotech in writing.

        3. Manufacture of Product

           3.1 Bachem shall promptly advise Ortho Biotech and Amylin of any
process changes proposed by Bachem for the manufacture of Product. Product
Specifications may be modified from time to time by written agreement of the
parties without the necessity of amending this Agreement. However, no changes in
the Product Specifications will be made unless Ortho Biotech, Amylin and Bachem
have agreed to such changes in writing prior to adoption of modified Product
Specifications.

           3.2 Bachem shall test or cause to be tested each lot of Product
before delivery as directed by Ortho Biotech. Each test shall set forth the
items tested, specifications and test results in a certificate of analysis for
each lot delivered to Ortho Biotech and Amylin under this Agreement. Bachem
shall send such certificate of analysis together with a certificate of
compliance to Ortho Biotech along with the delivery of Product. Ortho Biotech is
entitled to rely on such certificates for all purposes of this Agreement.

                                       5
<PAGE>   6

           3.3 Bachem shall permit Ortho Biotech and Amylin access during
reasonable business hours and after reasonable notice to those areas of Bachem's
manufacturing facilities where Product is manufactured, stored and handled and
to manufacturing records of Product manufactured by Bachem so that Ortho Biotech
and/or Amylin may perform a quality assurance audit of such facilities and
activities. Use of all information gained in the course of audits is restricted
to the purpose of Quality Assurance. Likewise, Bachem shall grant similar access
to governmental regulatory agencies upon reasonable notice so that such agencies
can perform inspections of its facilities.

           3.4 Each party shall promptly advise the others of any safety or
toxicity problem of which such party becomes aware regarding the Product.

        4. Acceptance of Product

           4.1 Not later than 90 days after receipt of each shipment of Product
sold hereunder, Ortho Biotech shall test and examine such material for
compliance with the Product Specifications, any damage, defects or shortage. If
Ortho Biotech believes that any such shipment does not comply with the Product
Specifications or is otherwise deficient, Ortho Biotech shall promptly, but not
later than ninety (90) days after receipt of the shipment, notify Bachem and,
(if appropriate) send a sample of the shipment to Bachem. If Bachem is satisfied
that the relevant shipment does not comply with such specifications or is
deficient, Ortho Biotech shall dispose of the noncomplying shipment as Bachem
shall lawfully direct and at Bachem's sole cost and expense and Bachem shall
upon request from Ortho Biotech replace at Ortho Biotech's and Amylin's option
the shipment or remedy the deficiency promptly. If Bachem should deny that the
relevant shipment does not comply with such specifications or is deficient or
should admit such

                                       6
<PAGE>   7

noncompliance or deficiency but deny that it is at fault, either Bachem or Ortho
Biotech may submit a sample of the relevant shipment and other relevant
information to an independent expert agreed upon by the parties, and the
decision of this independent expert shall be final and binding upon the parties.
The fees of such expert shall be borne by the losing party. Failure of Ortho
Biotech to notify Bachem of a claim, noncompliance or deficiency as set forth
herein shall constitute acceptance of such shipment.

           4.2 If there is subsequently found to be a defect in any shipment of
Product, which could not reasonably be expected to have been found by diligent
and adequate inspection by Ortho Biotech pursuant to its obligation under this
article, (a "Hidden Defect"), Ortho Biotech and Bachem shall enter into
discussions in good faith as to the handling and disposal of the defective
consignment, having due regard to where responsibility for such defect lies.

        5. Shipment and Delivery

           5.1 Bachem shall prepare Product for shipment and arrange for
shipment of Product at a location designated in writing by Ortho Biotech.
Shipment terms are F.O.B. Bachem's manufacturing facility. All charges for
packing, hauling, storage, bar coding, and transportation to point of delivery
are included in the purchase price unless otherwise agreed to by the parties.
Bachem shall pay all delivery charges in excess of any delivery charges that
Ortho Biotech have agreed to pay herein. All shipments must be accompanied by a
packing slip which describes the articles, states the purchase order number and
shows the shipment's destination. Bachem agrees to promptly forward the original
bill of lading or other shipping receipt for each shipment in accordance with
Ortho Biotech' s instructions.

                                       7
<PAGE>   8

           5.2 Each delivery of Product shall be governed by the terms of this
Agreement, and none of the conflicting terms or conditions of Ortho Biotech's
purchase order form or Bachem's purchase order form, acknowledgment or invoice
form shall be applicable, except those specifying special shipping instructions
and invoice information.

        6. Invoice

           Bachem shall invoice Ortho Biotech with a single invoice upon
delivery of each lot of Product at an address to be specified by Ortho Biotech
in writing. Ortho Biotech shall pay Bachem net the earlier of ninety (90) days
from the date of their receipt of invoice or Ortho Biotech's acceptance of the
lot, provided the Product is not rejected as described in Paragraph 4.1.

        7. Term and Termination

           7.1 This Agreement shall commence on the Effective Date and shall
terminate on the date on which the last shipment of Product has been delivered,
accepted and paid for by Ortho Biotech, provided, however, that Paragraph 4.2
shall survive any such expiration of the Agreement.

           7.2 This Agreement may be terminated as follows:

               (a) Any party may terminate this Agreement immediately upon the
bankruptcy or insolvency of another party;

               (b) Any party may terminate this Agreement by giving the other
parties thirty (30) days' prior written notice upon the breach of any material
provision of this Agreement by another party if the breach is not cured within
such ninety (90)day notice period. Failure to supply all quantities of Product
ordered on the

                                       8
<PAGE>   9

dates specified in an issued Purchase Order shall be considered a material
breach.

                   (c) Ortho Biotech may terminate this Agreement by giving
Bachem thirty (30) days' prior written notice in each of the following
situations: (i) upon notice by the FDA that Bachem is not an approved commercial
supplier of Product or failure of Bachem to successfully complete its
Pre-Approval Inspection (PAI), (ii) the FDA notifies Amylin that it will not
approve the NDA directed to the Product or it is not approved by [...***...],
(iii) Amylin withdraws the NDA directed to the Product or (iv) Ortho Biotech
withdraws the Product from the market. If Ortho Biotech terminates this
Agreement under any of 7.2(c) (ii), (iii) or (iv), then Ortho Biotech agrees to
reimburse Bachem for a portion of its investment costs for plant and equipment,
as follows:

               If Ortho Biotech has purchased less then [...***...] of Product
               (including the Validation Batches), then Ortho Biotech will
               reimburse Bachem for [...***...] of the investment costs,

               If Ortho Biotech has purchased at least [...***...] but less then
               [...***...] of Product (including the Validation Batches), then
               Ortho Biotech will reimburse Bachem for [...***...] of the
               investment costs.

                   If Ortho Biotech terminates this Agreement under any of
Paragraphs 7.2(c) (ii), (iii) or (iv), Ortho shall compensate Bachem for its
out-of-pocket costs associated with any work in progress.

                                       9     * CONFIDENTIAL TREATMENT REQUESTED

<PAGE>   10

           7.3 Termination, expiration, cancellation or abandonment of this
Agreement through any means or for any reason shall not relieve the parties of
any obligation accruing prior thereto and shall be without prejudice to the
rights and remedies of either party with respect to any antecedent breach of any
of the provisions of this Agreement.

        8. Warranties

           8.1 Bachem warrants that all Product delivered to Ortho Biotech and
pursuant to this Agreement will at the time of such delivery not be adulterated
or misbranded within the meaning of the Federal Food, Drug and Cosmetic Act, as
amended, or within the meaning of any applicable state or municipal law in which
the definitions of adulteration or misbranding are substantially the same as
those contained in the Federal Food, Drug and Cosmetic Act, as such Act and such
laws are constituted and effective at the time of delivery and will not be an
article which may not, under the provisions of Sections 404, 505 of 512 of such
Act, be introduced into interstate commerce. Bachem further warrants that
Product delivered to Ortho Biotech pursuant to this Agreement shall conform when
delivered to the Product Specifications and shall be in compliance with
applicable laws and regulations. Bachem represents and warrants that it shall
comply with all present and future statutes, laws, ordinances and regulations
relating to the manufacture, assembly and supply of the Products being provided
hereunder, including, without limitation, those enforced by the United States
Food and Drug Administration (including compliance with current good
manufacturing practices). BACHEM MAKES NO OTHER WARRANTIES, EXPRESSED OR
IMPLIED, WITH RESPECT TO PRODUCT. ALL OTHER WARRANTIES, EXPRESSED OR IMPLIED,
INCLUDING WITHOUT LIMITATION, THE IMPLIED WARRANTIES OR MERCHANTABILITY AND
FITNESS FOR A PARTICULAR PURPOSE ARE HEREBY DISCLAIMED BY BACHEM.

                                       10
<PAGE>   11

9. Indemnification

           9.1 Ortho Biotech shall defend, indemnify and hold Bachem and its
Affiliates and their respective employees, servants and agents harmless against
any liability, judgment, demand, action, suit, loss, damage, cost and other
expense (including reasonable attorney's fees) ("Liability") resulting from any
third party claims made or proceedings brought against Bachem to the extent such
Liability arises from (i) Ortho Biotech's negligence or willful act or omission
in the testing, use, manufacture, promotion, marketing, sale, distribution,
packaging, labeling, handling, or storage of Product, or (ii) Ortho Biotech's
material breach of this Agreement.

           9.2 Bachem shall defend, indemnify and hold Ortho Biotech and Amylin
and their Affiliates and their respective employees, servants and agents
harmless against any liability resulting from any third party claims made or
proceedings brought against Ortho Biotech and/or Amylin to the extent that such
liability arises from (i) Bachem's negligence or willful act or omission in the
manufacture, storage or delivery of Product; (ii) Bachem's material breach of
this Agreement; (iii) Bachem's breach of any warranty set forth in Article 8 or
(iv) any infringement set forth in Paragraph 8.1.

           9.3 Each indemnified party agrees to give the indemnifying party
prompt written notice of any matter upon which such indemnified party intends to
base a claim for indemnification (an "Indemnity Claim") under Article 9. The
indemnifying party shall have the right to participate jointly with the
indemnified party in the indemnified party's defense, settlement or other
disposition of any Indemnity Claim. With respect to any Indemnity Claim relating
solely to the payment of money damages and which could not result in the
indemnified party's becoming subject to injunctive or other equitable relief or
otherwise adversely affect

                                       11
<PAGE>   12

the business of the indemnified party in any manner, and as to which the
indemnifying party shall have acknowledged in writing the obligation to
indemnify the indemnified party hereunder, the indemnifying party shall have the
sole right to defend, settle or otherwise dispose of such Indemnity Claim, on
such terms as the indemnifying party, in its sole discretion, shall deem
appropriate, provided that the indemnifying party shall provide reasonable
evidence of its ability to pay any damages claimed and with respect to any such
settlement shall have obtained the written release of the indemnified party from
the Indemnity Claim. The indemnifying party shall obtain the written consent of
the indemnified party, which shall not be unreasonably withheld, prior to
ceasing to defend, settling or otherwise disposing of any Indemnity Claim if as
a result thereof the indemnified party would become subject to injunctive or
other equitable relief or the business of the indemnified party would be
adversely affected in any manner.

        10. Insurance

            Bachem agrees to procure and maintain in full force and effect
during the term of this Agreement valid and collectible insurance policies in
connection with its activities as contemplated hereby. Upon Ortho Biotech's
request, Bachem shall provide to Ortho Biotech a certificate of coverage or
other written evidence reasonably satisfactory to Bachem of such insurance
coverage.

        11. Confidential Information

            Confidential Information will be as defined by and treated in
accordance with the Confidential Disclosure Agreement among Amylin, Johnson &
Johnson and Bachem dated September 1, 1995, a copy of which is attached hereto
as Exhibit 3, which shall remain in full force and effect during the term of
this Agreement.

                                       12
<PAGE>   13

        12. Force Majeure

            If the performance by either party of any obligation under this
Agreement, other than the payment of money, is prevented or impaired by Force
Majeure for any cause beyond the reasonable control of the defaulting party,
such party shall be excused from performance so long as such situation continues
to prevent or impair performance, provided the party claiming such excuse shall
have promptly notified the other party of the existence, nature, duration and
other details of such cause and shall at all times use its reasonable efforts
consistent with its normal business practices to resume a complete performance.
If either party anticipates that a Force Majeure may occur, that party shall
notify the other immediately and explain the nature, details and expected
duration thereof.

            The affected party will advise the other from time to time as to the
progress in remedying the situation and as to the time when the affected party
expects to resume its obligations and shall notify the other as to the
expiration of any Force Majeure as soon as the affected party knows the date
thereof.

            "Force Majeure" shall mean an event beyond the reasonable control of
a party including, but not limited to, a breakdown of machinery or equipment,
fire, flood, sabotage, shipwreck, embargo, strike, explosion, labor trouble,
accident, riot, act of governmental authority (including, without limitation,
acts relating to raw material or product allocation), acts of God, acts of war
and delays or failures in obtaining materials, supplies, equipment or
transportation. Quantities affected by a Force Majeure shall be eliminated from
this Agreement without liability.

            In the event of a Force Majeure affecting Bachem, Bachem may prorate
and allocate manufacturing capacity (always with the understanding that Bachem
shall have a dedicated lab for the

                                       13
<PAGE>   14

manufacture of Product for Ortho Biotech) among its Affiliates, its then current
contract customers and in such manner as may be deemed fair and reasonable based
upon purchases of products over the past year.

            Notwithstanding the occurrence of a Force Majeure Event, if Bachem
shall be unable to supply Products in such quantities as Ortho Biotech shall
request and in compliance with the delivery periods set forth in this Agreement,
Ortho Biotech shall be permitted (with no obligation to Bachem) to obtain
Products from another source, and Ortho Biotech shall thereafter have no
obligation to purchase Products from Bachem until any contractual obligations
that Ortho Biotech has assumed in connection with obtaining a substitute supply
of Products shall have terminated. Ortho Biotech shall have no obligation to
affirmatively terminate any such contractual arrangements.

        13. Notices

            All notices hereunder shall be in writing and shall be delivered
personally, mailed by overnight delivery, registered or certified mail, postage
prepaid, or given by facsimile to the following addresses of the respective
parties:

            If to Ortho Biotech:       Attn: David E. Williams
                                       Ortho Biotech
                                       Route 202 South
                                       Raritan, NJ 08869--0602
                                       Telefax Number: (908) 526--4503

            If to Amylin:              Attn: Bradford Duft
                                       Amylin Pharmaceuticals, Inc.
                                       9373 Towne Centre Drive
                                       San Diego, CA 92121
                                       Telefax No.: (619) 552--2212

                                       14
<PAGE>   15

            If to Bachem:              Bachem California
                                       3132 Kashiwa Street
                                       Torrance, CA 90505
                                       Attn:  Jose de Chastonay
                                       Telefax No: 310/530--1571

        14. Binding Effect

            This Agreement shall be binding upon and shall inure to the benefit
of the parties hereto and their respective assigns and successors in interest.

        15. Applicable Law

            This Agreement shall be construed, interpreted and governed by the
laws of New York.

        16. Alternative Dispute Resolution

            Any controversy or claim arising out or relating to this Agreement,
or the breach thereof, shall be settled by the alternative dispute resolution
procedure described in Exhibit 4.

        17. Assignment

            Neither party shall assign this Agreement or any part thereof
without the prior written consent of the other party; provided, however, that
either party, without such consent, may assign or sell the same in connection
with the transfer or sale of substantially its entire business to which this
Agreement pertains or in the event of its merger or consolidation with another
company. Any permitted assignee shall assume all obligations of its assignor
under this Agreement. No assignment shall relieve any party of responsibility
for the performance of any accrued obligation which

                                       15
<PAGE>   16

such party then has hereunder. Notwithstanding the foregoing, Ortho Biotech may
assign this Agreement to Amylin and Amylin may assign this Agreement to Ortho
Biotech.

        18. Entire Agreement

            This Agreement constitutes the entire agreement between the parties
concerning the subject matter hereof and supersedes all written or oral prior
agreements or understandings with respect thereto.

        19. Severability

            This Agreement is subject to the restrictions, limitations, terms
and conditions of all applicable governmental regulations, approvals and
clearances. If any term or provision of this Agreement shall for any reason be
held invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other term or provision
hereof, and this Agreement shall be interpreted and construed as if such term or
provision, to the extent the same shall have been held to be invalid, illegal or
unenforceable, had never been contained herein.

        20. Waiver -- Modification of Agreement

            No waiver or modification of any of the terms of this Agreement
shall be valid unless in writing and signed by authorized representatives of
both parties hereto. Failure by either party to enforce any rights under this
Agreement shall not be construed as a waiver of such rights nor shall a waiver
by either party in one or more instances be construed as constituting a
continuing waiver or as a waiver in other instances.

                                       16
<PAGE>   17

        21. Publicity

            In the absence of specific agreement between the parties, neither
party shall originate any publicity, news release or other public announcement,
written or oral, whether to the public press, to stockholders or otherwise
relating to this Agreement or to performance hereunder, save only such
announcement as in the opinion of legal counsel to the party making such
announcement is required by law to be made.

        22. Exhibits

            All Exhibits referenced herein are hereby made a part of this
Agreement.

        23. Counterparts

            This Agreement may be executed in any number of separate
counterparts, each of which shall be deemed to be an original, but which
together shall constitute one and the same instrument.

            IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed by their duly authorized representatives on the later date written
below.

ORTHO BIOTECH                                BACHEM CALIFORNIA

By:                                          By  Peter Grogg
   -------------------------------              -------------------------------

Signature: /s/ DAVID E. WILLIAMS             Signature: /s/ PETER GROGG
          ------------------------                     ------------------------

Title: V.P. Operations                       Title: Chairman of the Board
      ----------------------------                  ---------------------------

Date: 7/1/97                                 Date:  7/2/97
     -----------------------------                -----------------------------

                                       17
<PAGE>   18

Only as to the Provisions in which Amylin is specifically mentioned or that
relate to the supply of Validation lots.

AMYLIN PHARMACEUTICALS, INC.

By: R.A. Kenley
   -------------------------------

Signature: /s/ R.A. KENLEY
          ------------------------

Title: VP of Product Dev.
      ----------------------------

Date: 2 Jul 97
     -----------------------------

                                       18
<PAGE>   19

                                   EXHIBIT "1"

                       SPECIFICATIONS FOR CGMP PRAMLINTIDE

                                   [...***...]

                                              * CONFIDENTIAL TREATMENT REQUESTED

<PAGE>   20

                             APPENDIX I to EXHIBIT 1

                      Specifications for CGMP Pramlintide

                                   [...***...]

                                              * CONFIDENTIAL TREATMENT REQUESTED

<PAGE>   21

                                    Exhibit 2

                               Capital Investments

                                   [...***...]

                                              * CONFIDENTIAL TREATMENT REQUESTED

<PAGE>   22
                                    EXHIBIT 3

                             C O N F I D E N T I A L

                        CONFIDENTIAL DISCLOSURE AGREEMENT

               THIS AGREEMENT is entered into as of September 1, 1995, by and
between AMYLIN PHARMACEUTICALS, INC., a Delaware corporation, having a place of
business at 9373 Towne Centre Drive, Suite 250, San Diego, California 92121
("AMYLIN"); BACHEM CALIFORNIA, a California corporation having a place of
business at 3132 Kashiwa Street, Torrance, California 90505 ("BACHEM"); and
JOHNSON & JOHNSON, a New Jersey corporation having a place of business at One
Johnson & Johnson Plaza, New Brunswick, New Jersey 08933 ("J&J"). The term "J&J"
also includes wholly owned subsidiaries of Johnson & Johnson.

                                    RECITALS

               WHEREAS, AMYLIN has made and continues to make developments
relating to: therapy and diagnosis of Type I and Type II diabetes mellitus and
other metabolic disorders, and compounds, procedures and processes related
thereto, including developments relating to pramlintide (AC-137);

               WHEREAS, BACHEM has made and continues to make developments
relating to the manufacture and/or processing of pramlintide;

               WHEREAS, J&J has made and continues to make developments relating
to the manufacture and processing of peptides;

               WHEREAS, AMYLIN, BACHEM and J&J each desire to exchange certain
information relating to the developments made by each other in order to evaluate
their mutual interest therein;

               WHEREAS each party appreciates that the other parties have
expended money and effort to establish a proprietary position with respect to
the developments they have made and that each party considers its developments
and information pertaining thereto to be its confidential property; and

               WHEREAS AMYLIN, BACHEM and J&J are willing to reveal to one other
certain information relating to these developments on a confidential basis:

               NOW, THEREFORE, in consideration of the foregoing, and of the
mutual covenants, terms and conditions hereinafter expressed, AMYLIN, BACHEM and
J&J agree as follows:

               1. "Confidential Information" shall mean information relating to
the above-captioned developments including, where appropriate and without
limitation, any information, patent disclosures, patent applications,
structures, models, techniques, processes, compositions, compounds and
apparatuses relating to

<PAGE>   23

Confidential Disclosure Agreement                                   CONFIDENTIAL
AMYLIN PHARMACEUTICALS, INC.,
  BACHEM CALIFORNIA and
  JOHNSON & JOHNSON
September 1, 1995

the same disclosed by AMYLIN, BACHEM or J&J to another party to this Agreement
("Recipient") or obtained by Recipient through observation or examination of
information or developments, but only to the extent that such information is
maintained as confidential by AMYLIN, BACHEM or J&J, respectively, and is
identified or marked as "confidential." To be considered "Confidential
Information" under this Agreement, information disclosed in writing must be
marked confidential and information disclosed in other forms (for example orally
or visually) must be summarized in writing and marked "confidential" and
provided by the disclosing party to the Recipient within a reasonable time after
initial disclosure.

               2. The parties each agree to disclose Confidential Information to
the other(s), which, in each of their sole discretion, is reasonably necessary
to permit the other(s) to evaluate their interest as described above.

               3. The parties each agree that the other parties are the owners
of their respective Confidential Information and that they will not disclose any
other party's Confidential Information to third parties, and agree not to use
any other party's Confidential Information at any time except for the purposes
of evaluation noted above; provided, however, AMYLIN, BACHEM and J&J shall have
no liability to one other with respect to use or disclosure to others not
parties to this Agreement of such information as Recipient can establish by
written documentation to:

               a.   have been publicly known prior to disclosure of such
                    information by AMYLIN, BACHEM or J&J to Recipient; or

               b.   have become publicly known, without fault on the part of
                    Recipient, subsequent to disclosure of such information to
                    Recipient; or

               c.   have been otherwise known by Recipient prior to
                    communication by AMYLIN, BACHEM or J&J to Recipient of such
                    information; or

               d.   have been received by Recipient at any time from a source
                    other than AMYLIN, BACHEM or J&J, lawfully having possession
                    of such information who is under no obligation to any other
                    party with respect to such information at the time of
                    disclosure.

               4. AMYLIN, BACHEM and J&J each agree that any disclosure of the
Confidential Information within their

                                       2
<PAGE>   24

Confidential Disclosure Agreement                                   CONFIDENTIAL
AMYLIN PHARMACEUTICALS, INC.,
  BACHEM CALIFORNIA and
  JOHNSON & JOHNSON
September 1, 1995

organizations will only be such as is reasonably necessary to their evaluation
and will only be to such employees who are bound by written agreements with
AMYLIN, BACHEM, or J&J, respectively, to maintain the Confidential Information
in confidence.

               5. Recipient agrees to promptly return all tangible items
relating to the Confidential Information of AMYLIN, BACHEM and/or J&J, including
all written materials, photographs, models, compounds, compositions and the like
made available or supplied to Recipient, and all copies thereof, upon the
request of the party who supplied the Confidential Information (except for a
single copy thereof which may be retained in the legal files of Recipient for
the sole purpose of determining the scope of the obligations incurred under this
Agreement). Upon request of the party who supplied the Confidential Information,
Recipient further agrees to identify those persons to whom the Confidential
Information that is the subject of this Agreement was disclosed.

               6. In the event that Recipient is requested or is required by
deposition, interrogatories, requests for information, documents or admissions,
subpoenas, civil investigative demands or similar process, to disclose any
Confidential Information provided by AMYLIN, BACHEM or J&J, it is agreed that
Recipient will provide AMYLIN, BACHEM or J&J, respectively, with a notice of
such request(s) immediately, but in no event later than two (2) business days
after receipt of such request, so that AMYLIN, BACHEM or J&J, respectively, may
seek an appropriate protective order and/or waive Recipient's obligation to
comply with the requirements of Section 3 hereof. It is further agreed that if,
in the absence of either a protective order or the receipt of a waiver
hereunder, within two (2) business days prior to the time Recipient is required
to disclose Confidential Information or else stand liable for contempt or suffer
other censure or penalty, Recipient may disclose such Confidential Information
without liability under Section 3. AMYLIN, BACHEM or J&J, respectively, and
Recipient will fully cooperate with each other in connection with efforts to
obtain any such order or other remedy.

               7. This Agreement shall not be construed to grant any license or
other rights except as specified herein.

               8. The obligations of each party under this Agreement shall
continue for a period of five (5) years from the date of disclosure.

               9. This Agreement may not be assigned by any party.

                                       3
<PAGE>   25

Confidential Disclosure Agreement                                   CONFIDENTIAL
AMYLIN PHARMACEUTICALS, INC.,
  BACHEM CALIFORNIA and
  JOHNSON & JOHNSON
September 1, 1995

               10. AMYLIN, BACHEM and J&J each warrant that they believe
themselves to be the owners of the Confidential Information supplied by them,
but make no other warranty relating to the Confidential Information or the use
to be made thereof by Recipient, and disclaim all implied warranties.

               11. Each party's evaluation of Confidential Information shall be
at its own risk and each party agrees to hold harmless and to indemnify the
other parties against any and all claims, judgments, costs, awards, expenses
(including reasonable attorneys' fees), and liabilities of every kind arising
from any use made of Confidential Information received from another party.

               12. No party shall be permitted to use the name of another party
in any publicity, advertising or public announcement concerning this Agreement
or the subject matter hereof without the prior express written consent of the
other party.

               13. This Agreement sets forth the entire agreement between the
parties relating to the subject matter of this Agreement, and fully supersedes
any and all prior and contemporaneous agreements or understandings between the
parties pertaining to the subject matter hereof.

               14. This Agreement may not be amended, supplemented or otherwise
modified except by an instrument in writing signed by all parties.

               15. The failure of any party to insist upon strict performance of
any provision of this Agreement or to exercise any right hereunder shall not
constitute a waiver of that provision of or right under this Agreement or of any
other provision of or right under this Agreement.

               16. If any provision of this Agreement is declared invalid,
illegal or unenforceable, such provision shall be severed and all remaining
provisions shall continue in full force and effect.

               17. This Agreement shall be construed and enforced in accordance
with the laws of the State of California (except its choice of law rules), and
the parties hereby submit to the jurisdiction and venue of the California
courts, both state and federal.

                                       4
<PAGE>   26

Confidential Disclosure Agreement                                   CONFIDENTIAL
AMYLIN PHARMACEUTICALS, INC.,
  BACHEM CALIFORNIA and
  JOHNSON & JOHNSON
September 1, 1995

               IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed in triplicate counterpart original by their duly authorized
representatives as of the day and year above written. Any and all Confidential
Information disclosed prior to the effective date of this Agreement shall be
deemed to fall within the scope of this Agreement.

AGREED AND ACCEPTED:                      AGREED AND ACCEPTED:

AMYLIN                                    BACHEM

AMYLIN PHARMACEUTICALS, INC.              BACHEM CALIFORNIA

By:____________________________           By:___________________________________
   Bradford J. Duft, Esq.                                (signature)
   Vice President and
   General Counsel                        Name:_________________________________
                                                        (type or print)

                                          Title:________________________________

AGREED AND ACCEPTED:

J&J

Johnson & Johnson

By:____________________________
           (Signature)

Name:__________________________
          (type or print)

Title:_________________________

                                       5
<PAGE>   27

                                    Exhibit 4

                         Alternative Dispute Resolution

        The parties recognize that a bona fide dispute as to certain matters may
arise from time to time during the term of this Agreement which relates to
either party's rights and/or obligations. To have such a dispute resolved by
this Alternative Dispute Resolution ("ADR") provision, a party first must send
written notice of the dispute to the other party for attempted resolution by
good faith negotiations between their respective presidents (or their
equivalents) of the affected subsidiaries, divisions, or business units within
twenty-eight (28) days after such notice is received (all references to "days"
in this ADR provision are to calendar days).

        If the matter has not been resolved within twenty-eight (28) days of the
notice of dispute, or if the parties fail to meet within such twenty-eight (28)
days, either party may initiate an ADR proceeding s provided herein. The parties
shall have the right to be represented by counsel in such a proceeding.

        1. To begin an ADR proceeding, a party shall provide written notice to
the other party of the issues to be resolved by ADR. Within fourteen (14) days
after its receipt of such notice, the other party may, by written notice to the
party initiating the ADR, add additional issues to be resolved within the same
ADR.

        2. Within twenty-one (21) days following receipt of the original ADR
notice, the parties shall select a mutually acceptable neutral to preside in the
resolution of any disputes in this ADR proceeding. If the parties are unable to
agree on a mutually acceptable neutral within such period, either party may
request the President of the CPR Institute for Dispute Resolution ("CPR"), 366
Madison Avenue, 14th Floor, New York, New York 10017, or its

                                      -1-
<PAGE>   28

successor organization or, if neither exists a similar type organization to
select a neutral pursuant to the following procedures--

                (a) The CPR shall submit to the parties a list of not less than
five (5) candidates within fourteen (14) days after receipt of the request,
along with a Curriculum Vitae for each candidate. No candidate shall be an
employee, director, or shareholder of either party or any of their subsidiaries
or affiliates.

                (b) Such list shall include a statement of disclosure by each
candidate of any circumstances likely to affect his or her impartiality.

                (c) Each party shall number the candidates in order of
preference (with the number one (1) signifying the greatest preference) and
shall deliver the list to the CPR within seven (7) days following receipt of the
list of candidates. If a party believes a conflict of interest exists regarding
any of the candidates, that party shall provide a written explanation of the
conflict to the CPR along with its list showinq its order of preference for the
candidates. Any party failing to return a list of preferences on time shall be
deemed to have no order of preference.

                (d) If the parties collectively have identified fewer than three
(3) candidates deemed to have conflicts, the CPR immediately shall designate as
the neutral the candidate for whom the parties collectively have indicated the
greatest preference. If a tie should result between two candidates, the CPR may
designate either candidate. If the parties collectively have identified three
(3) or more candidates deemed to have conflicts, the CPR shall review the
explanations regarding conflicts and, in its sole discretion, may either (1)
immediately designate as

                                      -2-
<PAGE>   29

the neutral the candidate for whom the parties collectively have indicated the
greatest preference, or (ii) issue a new list of not less than five (5)
candidates, in which case the procedures set forth in Sections 2(a) - 2(d) shall
be repeated.

        3. No earlier than twenty-eight (28) days or later than fifty--six (56)
days after selection, the neutral shall hold a hearing to resolve each of the
issues identified by the parties. The ADR proceeding shall take place at a
location agreed upon by the parties. If the parties cannot agree, the neutral
shall designate a location other than the principal place of business of either
party or any of their subsidiaries or affiliates.

        4. At least seven (7) days prior to the hearing, each party shall submit
the following to the other party and the neutral:

                a) a copy of all exhibits on which such party intends to rely in
any oral or written presentation to the neutral;

                (b) a list of any witnesses such party intends to call at the
hearing, and a short summary of the anticipated testimony of each witness;

                (c) a proposed ruling on each issue to be resolved, together
with a request for a specific damage award or other remedy for each issue. The
proposed rulings and remedies shall not contain any recitation of the facts or
any legal arguments and shall not exceed one (1) page per issue.

                (d) a brief in support of such party's proposed rulings and
remedies, provided that the brief shall not exceed twenty (20) pages with at
least 12 point type, courier font and margins not less than 1 inch top, bottom
and sides. This page limitation shall apply regardless of the number of issues
raised in the ADR proceeding.

                                      -3-
<PAGE>   30

        Depositions shall be limited to 3 depositions per party with each
deposition not to exceed 10 hours. Interrogatories shall be limited to 10
questions (including all subparts to questions) for each party. Production of
documents shall be limited to the extent the neutral in his/her sole discretion
feels is reasonable and necessary. No other discovery shall be permitted unless
authorized by the neutral.

        5. The hearing shall be conducted on four (4) consecutive days or less
and shall be governed by the following rules:

                (a) Each party shall be entitled to twelve (12) hours of hearing
time to present its case. The neutral shall determine whether each party has had
the twelve (12) hours to which it is entitled.

                (b) Each party shall be entitled, but not required, to make an
opening statement, to present regular and rebuttal testimony, documents or other
evidence, to cross-examine witnesses, and to make a closing argument.
Cross--examination of witnesses shall occur immediately after their direct
testimony, and cross-examination time shall be charged against the party
conducting the cross--examination;

                (c) The party initiating the ADR shall begin the hearing and, if
it chooses to make an opening statement, shall address not only issues it raised
but also any issues raised by the responding party. The responding party, if it
chooses to make an opening statement, also shall address all issues raised in
the ADR. Thereafter, the presentation of regular and rebuttal testimony and
documents, other evidence, and closing arguments shall proceed in the same
sequence;

                (d) Settlement negotiations, including any statements made
therein, shall not be admissible under any circumstances.

                                      -4-
<PAGE>   31

Affidavits prepared for purposes of the ADR hearing also shall, however, be
admissible. As to the admission of evidence, the neutral shall apply the Federal
Rules of Evidence to evidentiary issues and shall have the sole discretion
regarding the admissibility of evidence according to the Federal Rules of
Evidence.

        6. Within seven (7) days following completion of the hearing, each party
may submit to the other party and the neutral a post-hearing brief in support of
its proposed rulings and remedies, provided that such brief shall not contain or
discuss any new evidence and shall not exceed ten (10) pages with the same
requirements as specified in 4(d) herein. This page limitation shall apply
regardless of the number of issues raised in the ADR proceeding.

        7. The neutral shall rule on each disputed issue within fourteen (14)
days following completion of the hearing. Such ruling shall adopt in its
entirety the proposed ruling and remedy of one of the parties on each disputed
issue but may adopt one party's proposed rulings and remedies on some issues and
the other party's proposed rulings and remedies on other issues. The neutral
shall not issue any written opinion or otherwise explain the basis of the
ruling.

        8. The neutral is empowered to award any remedy allowed by law,
including money damages, prejudqement interest and attorneys fees, and to grant
final, complete, interim, or interlocutory relief, including injunctive relief.
Notwithstanding the foregoing, punitive or treble damages may not be awarded.

        9. The neutral shall be paid a reasonable fee plus expenses. These fees
and expenses, along with the reasonable legal fees

                                      -5-
<PAGE>   32

and expenses of the prevailing party (including all expert witness fees and
expenses), the fees and expenses of a court reporter, and any expenses for a
hearing room, shall be paid as follows:

                (a) If the neutral rules in favor of one party on all disputed
issues in the ADR, the losing party shall pay one hundred percent (100%) of such
fees and expenses.

                (b) If the neutral rules in favor of one party on some issues
and the other party on other issues, the neutral shall issue with the rulings a
written determination as to how such fees and expenses shall be allocated
between the parties. The neutral shall allocate fees and expenses in-a way that
bears a reasonable relationship to the outcome of the ADR, with the party
prevailing on more issues, or on issues of greater value or gravity, recovering
a relatively larger share of its legal fees and expenses.

        10. The rulings of the neutral and the allocation of fees and expenses
shall be binding, non-reviewable, and non--appealable, and may be entered as a
final judgment in any court having jurisdiction,

       11. Except as required by law, the existence of the dispute, any
settlement negotiations, the ADR hearing, any submissions (including exhibits,
testimony, proposed rulings, and briefs), and the ruling shall be deemed
Confidential Information. The neutral shall have the authority to impose
sanctions for unauthorized disclosure of Confidential Information.

                                      -6-

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