Document:

EXHIBIT 10.46

     

    EXHIBIT
      10.46

    SPECIAL
      WARRANTY DEED

    

    BOWLIN
      TRAVEL CENTERS, INC., a Nevada corporation (hereinafter referred to as
"Grantor"),
      for
      consideration of certain good and valuable consideration paid to Grantor by
      the
      PUEBLO OF LAGUNA, a federally recognized Indian Tribe (hereinafter referred
      to
      as "Grantee"),
      the
      receipt and sufficiency of which is hereby acknowledged, hereby GRANTS,
      BARGAINS, SELLS, AND CONVEYS unto Grantee all of the real property in Bernalillo
      County, New Mexico more particularly described in Exhibit
      A
      attached
      hereto and incorporated herein by reference, together with all buildings,
      improvements and fixtures located thereon, and the rights, ways, privileges
      and
      appurtenances pertaining thereto, with special warranty covenants,

     

    SUBJECT,
      HOWEVER, TO taxes for the year 2007 and subsequent years; and the matters set
      forth in Exhibit B
      attached
      hereto and incorporated herein by reference.

    

       Witness
      my hand and seal this 24th
      day of
      May, 2007.

       

    
      	
              BOWLIN
                TRAVEL CENTERS, INC.,

            	 	 	 
	
              a
                Nevada corporation

            	 	 	 
	 	 	 	 
	/s/ Michael
              L. Bowlin	 	 	 
	
              

            	 	 	
            
	
              Print
                Name:
                Michael L. Bowlin   

            	 	 	 
	
              Its:
                President 

            	 	 	 

    
      	STATE OF
              NEW
              MEXICO	
              ()

            

    

    
      
        	 	
                ()

              

      

      
        
          	COUNTY
                  OF
                  BERNALILLO	
                  ()

                

        

      

    

     

    This
      instrument was acknowledged before me on May 24th, 2007, by Michael
      L. Bowlin, on behalf of BOWLIN
      TRAVEL CENTERS, INC.,
      a
      Nevada corporation.

     

    
      	 	 	 	 
	 	 	 	/s/ Sue
              Dunworth
	
            	 	 	
              

            
	 	 	 	Notary
              Public, State of New Mexico
	 	 	 	 
	My Commission Expires: 	 	 	Notary's Printed Name:
	August 20, 2007	 	 	Sue Dunworth
	
              

            	 	 	
              

            

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      A

    To
      Special Warranty Deed

    

    Legal
      Description

    PARCEL
      I:

    

    Tract
      Lettered “A” of the Plat of Division of LAND
      OF MRS. LULA M. BRIDGES,
      Bernalillo County, New Mexico, as the same is shown and designated on the plat
      thereof, filed in the office of the County Clerk of Bernalillo County, New
      Mexico on July 27, 1971 in Volume
      B5, Folio 192;
      TOGETHER WITH A Northerly portion of the LANDS
      OF GEORGE T. HILL,
      Town of
      Atrisco Grant, Bernalillo County, New Mexico, as the same is shown and
      designated on the plat thereof, filed in the office of the County Clerk of
      Bernalillo County, New Mexico on February 11, 1952 in Volume
      A1, Folio 099;
      TOGETHER WITH A certain tract of land situate within Projected Section 3,
      Township 9 North, Range 1 West of the N.M.P.M., Bernalillo County, New Mexico,
      Being adjacent to the Northerly line of said LANDS
      OF GEORGE T. HILL,
      all
      being more particularly described as follows:

    

    Beginning
      at the Southwest corner of the herein described “PARCEL I”, being a No.5 Rebar,
      and being a point on the Northerly line of Interstate 40, frontage road (NMP
      1-040-3(31)137); Thence N12°23'20"W,
      a
      distance of 1042.71 feet to a point, being a 1” Iron Pipe; Thence
      S83°57'47"W,
      a
      distance of 101.19 feet to a point; Thence N09°07'43"W,
      a
      distance of 640.46 feet to a point, being the Northwest corner of “PARCEL I”;
      Thence S89°06'14"E,
      a
      distance of 915.03 feet to a point, being a No.4 Rebar, #11463, and being the
      Northeast corner of “PARCEL I”; Thence S13°59'07"E,
      a
      distance of 1206.02 feet to a point, being a No.4 Rebar, #11463; Thence
      N74°58'17"E,
      a
      distance of 146.70 feet to a point, being a No.4 Rebar, #11463; Thence
      S15°05'50"E,
      a
      distance of 129.77 feet to a point, being a No.4 Rebar, #11463; Thence
      S74°58'17"W,
      a
      distance of 230.00 feet to a point, being a No.4 Rebar, #11463; Thence
      S15°05'46"E,
      a
      distance of 125.04 feet to a point, being the Southeast corner of “PARCEL I”,
      and being a point on the Northerly line of Interstate I-40, frontage road (NMP
      1-040-3(31)137); Thence southwesterly along said Interstate 40 right of way
      line
      on a curve (radius=2414.69', chord=S75°57'39"W,
      a
      distance of 126.94 feet) delta=3°00'45",
      through an arc to the right a distance of 126.95 feet to a point, being R/W
      cap
      8060, #11599; Thence along said Interstate 40 right of way line, S77°28'01"W,
      a
      distance of 298.81 feet to a point, being R/W cap 8059, #11599; Thence
      southwesterly along said Interstate 40 right of way line on a curve
      (radius=2670.60', chord=S76°10'31"W,
      a
      distance of 121.82 feet) delta=2°36'50",
      through an arc to the left a distance of 121.83 feet to a point, being R/W
      cap
      8058, #11599; Thence along said Interstate 40 right of way line, S74°50'12"W,
      a
      distance of 241.61 feet to the Southwest corner of “PARCEL I” and said point of
      beginning.

     

    PARCEL
      II:

    

    Tract
      B-1
      of Plat of Tract B-1, “LANDS
      OF BOWLIN”,
      as the
      same is shown and designated on the plat thereof, filed in the office of the
      County Clerk of Bernalillo County, New Mexico on October 5, 1993 in Volume
      93C, Folio 288,
      records
      of Bernalillo County, New Mexico; EXCEPTING FROM PARCEL I and II those portions
      conveyed to the New Mexico State Highway and Transportation Department by
      Warranty Deeds recorded April 5th,
      2000 in
      Book A4, pages 2706 and 2707 as Document Nos. 2000032849 and 2000032850, records
      of Bernalillo County, New Mexico, all being more particularly described as
      follows:

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

       

    

    Beginning
      at the Southwest corner of the herein described “PARCEL II”, being a point on
      the Northerly line of Interstate 40, frontage road (NMP 1-040-3(31) 137); Thence
      N15°05'46"W,
      a
      distance of 125.04 feet to a point, being the Northwest corner of “PARCEL II”;
      Thence N74°58'17"E,
      a
      distance of 230.00 feet to a point, being a No.4 Rebar, #11463; Thence
      N74°58'17"E,
      a
      distance of 100.00 feet to a point; Thence S15°02'56"E,
      a
      distance of 10.00 feet to a point; Thence N74°57'04"E,
      a
      distance of 82.53 feet to a point; Thence northeasterly on a curve
      (radius=527.00', chord=N65°34'34"E,
      a
      distance of 171.69 feet) delta=18°45'00",
      through an arc to the left a distance of 172.46 feet to a point; Thence
      N53°31'18"E,
      a
      distance of 203.50 feet to a point; Thence northeasterly on a curve
      (radius=1001.00', chord=N74°57'23"E,
      a
      distance of 643.52 feet) delta=37°30'00",
      through an arc to the right a distance of 655.15 feet to a point, being a “spike
      found”; Thence S86°17'37"E,
      a
      distance of 169.91 feet to a point, being the Northeast corner of “PARCEL II”
and also being a No.4 Rebar, #11463; Thence S03°27'27"W,
      a
      distance of 63.97 feet to a point, being the Southeast corner of “PARCEL II”,
      being a point on the Northerly line of Interstate 40, frontage road (NMP
      1-040-3(31)137), and being R/W cap 8067, #11599; Thence along said Interstate
      40
      right of way line, S81°50'44"W,
      a
      distance of 55.03 feet to a point, being R/W cap 8066, #11599; Thence
      southwesterly along said Interstate 40 right of way line on a curve
      (radius=3051.18', chord=S75°59'55"W,
      a
      distance of 621.10 feet) delta=11°41'00",
      through an arc to the left a distance of 622.18 feet to a point, being R/W
      cap
      8065, #11599; Thence along said Interstate 40 right of way line, S70°09'01"W,
      a
      distance of 490.72 feet to a point, being R/W cap 8064, #11599; Thence along
      said Interstate 40 right of way line, S37°06'58"W,
      a
      distance of 96.14 feet to a point, being R/W cap 8063, #11599; Thence
      along said Interstate 40 right of way line, S70°03'54"W,
      a
      distance of 135.04 feet to a point; Thence southwesterly along said Interstate
      40 right of way line on a curve (radius=2414.69', chord=S72°18'48"W,
      a
      distance of 180.45 feet) delta=4°16'57",
      through an arc to the right a distance of 180.49 feet to a point, being the
      Southwest corner of “PARCEL II” and said point of beginning.

    

    PARCEL
      III:

    

    A
      certain
      tract of land situate within projected Section 3, Township 9 North, Range 1
      West
      of the N.M.P.M., Bernalillo County, New Mexico, being more particularly
      described as follows:

    

    Beginning
      at the Northwest corner of the herein described “PARCEL III”, from which point
      the section corner common to sections 3 and 4, T.9N. and sections 33 and 34,
      T.10N., R.1W., N.M.P.M., being an aluminum stamped cap, #11599, bears
      N.13°59'07"W.
      a distance of 153.19 feet, thence N.05°47'23"E.,
      a distance of 2122.80 feet to said section corner; Thence from point of
      beginning, S.89°06'35"E.,
      a distance of 4928.09 feet to a point, being a No.5 Rebar, #11608, being the
      Northeast corner of “PARCEL III” and being a point on the Northerly line of
      Interstate 40, frontage road (NMP 1-040-3(31) 137); Thence along said Interstate
      40 right of way line, S74°56'46"W,
      a
      distance of 2207.69 feet to a point, being R/W cap 8071, #11599; Thence
      southwesterly along said Interstate 40 right of way line on a curve
      (radius=2559.05', chord=S78°43'27"W,
      a
      distance of 279.59 feet) delta=6°15'47",
      through an arc to the right a distance of 279.73 feet to a point, being R/W
      cap
      8070, #11599; Thence along said Interstate 40 right of way line, S81°50'21"W,
      a
      distance of 611.03 feet to a point, being R/W cap 8069, #11599; Thence along
      said Interstate 40 right of way line, N84°07'23"W,
      a
      distance of 135.22 feet to a point, being R/W cap 8068, #11599; Thence along
      said Interstate 40 right of way line, S81°50'27"W,
      a
      distance of 66.78 feet to a point, being R/W cap 8067, #11599; Thence
      N03°27'27"E,
      a
      distance of 63.97 feet to a point, being a No.4 Rebar, #11463; Thence
      N86°17'37"W,
      a
      distance of 169.91 feet to a point, being a “spike found”; Thence southwesterly
      on a curve (radius=1001.00', chord=S74°57'23"W,
      a
      distance of 643.52 feet) delta=37°30'00",
      through an arc to the left a distance of 655.15 feet to a point; Thence
      S53°31'18"W,
      a
      distance of 203.50 feet to a point; Thence southwesterly on a curve
      (radius=527.00', chord=S65°34'34"W,
      a
      distance of 171.69 feet) delta=18°45'00",
      through an arc to the right a distance of 172.46 to a point; Thence
      S74°57'04"W,
      a
      distance of 82.53 feet to a point; Thence N15°02'56"W,
      a
      distance of 10.00 feet to a point; Thence S74°58'17"W,
      a
      distance of 100.00 feet to a point, being a No.4 Rebar, #11463; Thence
      N15°05'50"W,
      a
      distance of 129.77 feet to a point, being a No.4 Rebar, #11463; Thence
      S74°58'17"W,
      a
      distance of 146.70 feet to a point, being the Southwest corner of “PARCEL III”,
      and being a No.4 Rebar, #11463; Thence N13°59'07"W,
      a
      distance of 1052.83 feet to a point, being the Northwest corner of “PARCEL III”
and said point of beginning.

    

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      B

    To
      Special Warranty Deed

    

    Permitted
      Exceptions

    

    

    
      	1.  
               	
              Reservations
                contained in Patent from the United States of America to the Town
                of
                Atrisco Grant, recorded August 21, 1905 in Book 35, page 91, records
                Bernalillo County, New Mexico.

            

    

    

    
      	2.  
               	
              Right-of-Way
                Easement recorded June 23, 1930 in Book 112, page 345, records Bernalillo
                County, New Mexico.

            

    

    

    
      	3.  
               	
              Right-of-Way
                Easement recorded December 14, 1953 in Book D 263, page 251, records
                Bernalillo County, New Mexico.

            

    

    

    
      	4.  
               	
              Right-of-Way
                Easement recorded December 14, 1953 in Book D 263, page 253, records
                Bernalillo County, New Mexico.

            

    

    

    
      	5. 
                	
              Easement
                granted to Public Service Company of New Mexico, a New Mexico corporation
                and the Mountain States Telephone and Telegraph Company, a Colorado
                corporation, recorded December 20, 1965 in Book D 793, page 4, records
                Bernalillo County, New Mexico.

            

    

    

    
      	6.  
               	
              Omitted
                on purpose

            

    

    

    
      	7.  
               	
              Omitted
                on purpose.

            

    

    

    
      	8.  
               	
              Omitted
                on purpose.

            

    

    

    
      	9.  
               	
              Omitted
                on purpose.

            

    

    

    
      	10.  
               	
              Omitted
                on purpose.

            

    

    

    
      	11. 
                	
              Omitted
                on purpose.

            

    

    

    
      	12.  
               	
              Right
                of Way and Easement granted to PNM Gas Services, an unincorporated
                division of Public Service Company of New Mexico, a New Mexico corporation
                by instrument recorded February 12, 2003 in Book A50, page 2775 as
                Document No. 2003022818, records of Bernalillo County, New
                Mexico.

            

    

    

    
      	13.  
               	
              Easement
                granted to Public Service Company of New Mexico, a New Mexico corporation
                and Qwest Corporation by instrument recorded March 19, 2003 in Book
                A52,
                page 4352 as Document No. 2003044438, records of Bernalillo County, New
                Mexico.

            

    

    

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    
      	14.  
               	
              Right
                of Way and Easement granted to PNM Gas Services, an unincorporated
                division of Public Service Company of New Mexico, a New Mexico corporation
                by instrument recorded December 5, 2003 in Book A69, page 7553 as
                Document
                No. 2003218017, records of Bernalillo County, New
                Mexico.

            

    

    

    
      	15.  
               	
              Easements
                and other matters, as shown and/or provided for on the recorded plat,
                recorded October 5, 1993 in Volume 93C, folio 288, records of Bernalillo
                County, New Mexico.

            

    

    

    
      	16.  
               	
              Omitted
                on purpose.

            

    

    

    
      	17.  
               	
              
                Omitted
                  on purpose.

              

            

    

    

    
      	18.  
               	
              
                Omitted
                  on purpose.

              

            

    

    

    
      	19.  
               	
              Any
                consequences arising out of the failure to record a Land Division
                and/or
                Summary Plat of the insured premises in the office of the County
                Clerk of
                Bernalillo County, New Mexico.

            

    

    

    
      	20.  
               	
              Omitted
                on purpose.

            

    

    

    
      	21. 
                	
              
                Matters
                  disclosed by that certain ALTA/ACSM Land Title Survey dated May
                  17, 2007,
                  prepared by Brian K. McClintock, N.M.P.S. No. 11597, and recorded
                  May 18,
                  2007 in Book 2007S, page 34 as Document No. 2007073726, records
                  of
                  Bernalillo County, New
                  Mexico.

              

            

    

    

    
      	22. 
                	
              Reservations
                contained in the Quitclaim Deed recorded in Book A36, page 2943 as
                Document No. 20020063133, records of Bernalillo County, New
                Mexico.

            

    

    

    
      	23. 
                	
              Lease
                as evidenced by Memorandum of Lease Agreement recorded May 9, 2007
                in Book
                A136, page 8769 as Document No. 2007068907, records of Bernalillo
                County,
                New Mexico.

            

    

     

     

    
      
        
        

      

      
        5Exhibit
4.5

EMPLOYMENT
AGREEMENT

BETWEEN

1. CRUCELL
N.V.

AND

2. R.H.P.
BRUS

DATED JUNE
30, 2006

CONTENTS

	
  Clause

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  
	
  1.

  	
  Date of Commencement of Service and Position

  	
  1

  
	
  2.

  	
  Duration of the Agreement, Notice during its Term

  	
  2

  
	
  3.

  	
  Remuneration

  	
  2

  
	
  4.

  	
  Expenses and Company Car

  	
  2

  
	
  5.

  	
  Holidays

  	
  3

  
	
  6.

  	
  Insurance

  	
  3

  
	
  7.

  	
  Sickness

  	
  3

  
	
  8.

  	
  Pension

  	
  4

  
	
  9.

  	
  Confidentiality

  	
  4

  
	
  10.

  	
  Documents

  	
  4

  
	
  11.

  	
  Non-Competition

  	
  4

  
	
  12.

  	
  No Additional Occupation

  	
  5

  
	
  13.

  	
  Intellectual and Industrial Property Rights

  	
  5

  
	
  14.

  	
  Severance Arrangement in a Change in Control
  Situation

  	
  6

  
	
  15.

  	
  Gifts

  	
  6

  
	
  16.

  	
  Miscellaneous

  	
  6

  
	
  17.

  	
  Applicable Law, No Collective Bargaining Agreement

  	
  6

  
	
   

  	
   

  	
   

  
	
  Signatories

  	
  7

  

 

THE UNDERSIGNED:

(1)                                  CRUCELL
N.V., established at Leiden, represented by L.Kruimer and counter signed by
Mr. J. Oosterveld as Chairman of the Supervisory Board, hereinafter “Crucell”;

(2)                                  R.H.P. Brus, residing at Leidseweg 193, 2253 AD  Voorschoten, hereinafter “the Executive”;

WHEREAS:

The Executive has been
employed by Crucell or any of its affiliated companies as of January 15, 1997;

The General Meeting of
Shareholders of Crucell on June 3, 2004 resolved to appoint the Executive as
member of the Management Board as per January 26, 2004;

Crucell is a leading
biotechnology company developing vaccine and antibody products to prevent and
treat infectious diseases;

The Executive is fully aware
that the business of Crucell requires strict confidentiality as to everything
that is created, developed, prepared, investigated scientifically,
organisationally, economically, as well as commercially;

The parties to this agreement,
thereby superseding previous agreements between them or between the Executive
and any of Crucell’s affiliated companies, wish to lay down the conditions
which apply to their relationship;

DECLARE AND HAVE AGREED AS
FOLLOWS:

1.                                      DATE OF COMMENCEMENT OF SERVICE AND POSITION

1.1                                 The Executive has
been employed by Crucell or any of its affiliated companies as of January 15,
1997. He is a member of the Management Board effective as of January 26, 2004,
and holds the position of President and Chief Executive Officer effective as of
January 26, 2004.

1.2                                 The Executive’s
place of rendering service under this agreement will be the office of the
Crucell in Leiden. Crucell will be entitled to change this place after
consultation with the Executive.

1.3                                 The
Executive is obliged to do or to refrain from doing all that officers in
similar positions should do or should refrain from doing. The Executive shall
fully devote himself, his time and his energy to promoting the interest of
Crucell and its affiliated companies. To that effect the Executive is expected
to spend sufficient time in the Netherlands and in such other countries as
deemed commensurate with prevailing business needs.

1.4                                 The
Executive has the obligations which have been or will be imposed by law, by the
articles of association of Crucell and in the regulations for members of the
Management Board as such regulations shall be determined by the Supervisory
Board of Crucell (the ‘Supervisory Board”) from time to time.

 1
 

1.5                                 If
the Executive is serving as a supervisory director or board member of another
company affiliated with Crucell on the basis of his position as member of the
Management Board (so-called “q.q. directorships”), or if the Executive holds
any other position pursuant to his position as member of the Management Board
(so-called “q.q.-positions”), he shall instruct to pay the income derived from
this, if any, into the Treasury of Crucell, unless Crucell decides otherwise.
The Executive will not suffer any tax disadvantage.

2.                                      DURATION OF THE AGREEMENT, NOTICE DURING ITS TERM

2.1                                 This
agreement is entered into for an indefinite period.

2.2                                 This
agreement shall terminate in any event, without notice being required, on the
day that the Executive reaches the pensionable age under the prevailing pension
scheme of Crucell.

2.3                                 The
agreement may be terminated by either party with due observance of a notice
period of six months for Crucell and three months for the Executive.

2.4                                 At the
termination of this agreement the Executive shall resign from the q.q.
directorships and q.q. positions held by him as referred to in article 1.5 of
this agreement.

3.                                      REMUNERATION

3.1                                 Effective
as per January 1, 2006, the Executive’s base salary, including holiday
allowance, amounts to € 399.997,44 gross per year. The base salary, including
holiday allowance, shall be paid in twelve equal instalments at the end of each
month. The holiday allowance shall be paid in May each year. Each year the
Supervisory Board shall decide whether there is any reason to increase the
Executive’s base salary.

3.2                                 The
Executive is entitled to take part in the Crucell N.V. Executive Incentive
Plan, subject to the rules of the Plan, as determined by the Supervisory Board,
and established by the General Meeting of Shareholders, from time to time.

4.                                      EXPENSES AND COMPANY CAR

4.1                               If he desires so, the Executive shall be entitled to
a company car by Crucell at no cost to the
Executive (with the proviso that the tax implications are for the account of
the Executive) on such further conditions as shall be determined by Crucell
from time to time. In the event of sickness for a period exceeding 6 months,
Crucell will be entitled to reclaim the company car from the Executive, without
the Executive being entitled to any compensation. The Executive shall comply
with Crucell’s request to return the car.

4.2                                 To
the extent Crucell has given prior approval for such expenses, Crucell shall
reimburse all reasonable expenses incurred by the Executive in the performance
of his duties upon submission of all the relevant invoices and vouchers. The
Executive shall observe any regulations on reimbursement of expenses as
determined by Crucell from time to time.

4.3                                 Crucell shall pay
those costs of a mobile telephone and private fax machine for the Executive,
which are in excess of the amount that must be paid by the Executive in order
to avoid tax liability for Crucell, to the extent that those costs are
reasonable The mobile phone and fax will be used for 90% for business purposes.

 2
 

5.                                      HOLIDAYS

5.1                                 The
Executive shall be entitled to 25 working days vacation per year. In taking
vacation, the Executive shall duly observe the interests of Crucell. To that
effect the Executive shall be obliged to inform the Management Board in time of
intended vacation periods as well as, afterwards, of vacation taken.

6.                                      INSURANCE

6.1                                 Crucell
shall contribute to the annual gross premium of Crucell medical insurance taken
out for the Executive, his spouse and children (as defined in the relevant
policy), provided that the Executive joins the collective medical insurance
policy taken out by Crucell.

6.2                                 Crucell
shall pay the annual premium of Crucell’s travel and accident insurance. This
insurance shall, if and when the Executive is accepted, provide coverage to the
Executive as mentioned in the relevant policy.

6.3                                 Crucell
shall take out a Director’s and Officer’s Liability Policy under terms and
conditions of state of the art level and continue to have this or a similar
policy in place in connection with claims made against the Executive alleging a
wrongful act as defined in such policy from time to time. Crucell shall pay the
annual premium.

7.                                      SICKNESS

7.1                                 In
the event of sickness as defined in article 7:629 of the Civil Code, the
Executive shall notify Crucell as soon as possible.

7.2                                 In
the event of sickness, Crucell shall pay to the Executive his remuneration in
accordance with the applicable Crucell policy and procedure.

7.3                                 The
Executive is only entitled to the payments referred to in article 7.2 if and to
the extent that pursuant to the requirements of article 7:629 under 3 through 7
and 9 of the Dutch Civil Code, Crucell is under the obligation to pay salary in
accordance with article 7:629, under 1, of the Dutch Civil Code. Subsequent
periods of sickness with intervals of less than 4 weeks are regarded as one
period for the purpose of article 7.2.

7.4                                 The
Executive shall not be entitled to the payments referred to in the article 7.2,
if and to the extent that in connection with his sickness, he can validly claim
damages from a third party on account of loss of salary and if and to the
extent that the payments by Crucell set forth in the article 7.2 exceed the
minimum obligation referred to in article 7:629 sub 1 of the Civil Code. In
this event, Crucell shall satisfy payment solely by means of an advanced
payment on the compensation to be received from the third party and upon
assignment by the Executive of his rights to damages vis-à-vis the third party
concerned up to the total amount of advanced payments made. The advanced
payments shall be set-off by Crucell if the compensation is paid or, as the
case may be, in proportion thereto.

7.5                                 If
the sickness continues after the first 52 weeks, the Executive shall be
eligible to take part in the Crucell’s Corporate Disability Insurance Plan
under the conditions set forth in that plan as determined by the Supervisory
Board from time to time. The premium shall be borne by Crucell.

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8.                                      PENSION

8.1                                 The
Executive and his wife declare to be
familiar with the prevailing top executive collective pension plan of Crucell
with Allianz. The parties agree to fulfill the obligations arising from such
pension scheme. The pension rules of the top executive collective pension plan
will be provided by Crucell. This collective pension plan has been introduced
at 1 January 2005 and replaces all former pension benefits promises made by
Crucell.

8.2                                 The Executive is
entitled to a two years gross salary in case of death to be paid to his
rightful heirs. Crucell agrees to take out adequate insurance to cover this
risk.

9.                                      CONFIDENTIALITY

9.1                                 The
Executive shall throughout the duration of this agreement and after this agreement
has been terminated for whatever reason, refrain from disclosing in any manner
to any individual (including other personnel of Crucell or any of its
subsidiaries or affiliated companies unless such personnel must be informed in
connection with their work activities for Crucell) any information of a
confidential nature concerning Crucell or other companies affiliated with
Crucell, which has become known to the Executive as a result of his employment
with Crucell and of which the Executive knows or should have known to be of a
confidential nature.

9.2                                 If
the Executive breaches the obligations pursuant to paragraph 1 of this article,
the Executive shall contrary to article 7:650, under 3, 4 and 5 of the Dutch
Civil Code, without any notice of default being required, pay to Crucell for
each breach thereof, a penalty amounting to € 100,000.
Alternatively, Crucell will be entitled to claim full damages.

10.                               DOCUMENTS

10.1                           The
Executive shall not have nor keep in his possession any documents and/or
correspondence and/or data carriers and/or copies thereof in any manner
whatsoever, which belong to Crucell or to other companies affiliated with
Crucell and which have been made available to the Executive as a result of his
employment, except insofar as and for as long as necessary for the performance
of his work for Crucell. In any event the Executive will be obliged to return
to Crucell immediately, without necessitating the need for any request to be
made in this regard, any and all such documents and/or correspondence and/or
data carriers and/or copies thereof at termination of this agreement or on
suspension of the Executive from active duty for whatever reason.

11.                               NON-COMPETITION

11.1                           The
Executive shall throughout the duration of this agreement and for a period of
one year after termination hereof not be engaged or involved in any manner,
directly or indirectly, whether for the account of the Executive or for the
account of others, in any activity, business or otherwise, relating to the
commercial application of discovery and development of biopharmaceutical
products that utilise the immune system to combat diseases within the fields in
which Crucell acts, has acted or prepares to act on at the moment the
relationship comes to an end. This obligation applies worldwide.

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11.2                           Furthermore,
the Executive shall throughout the duration of this agreement and for a period
of one year after termination hereof not be engaged or involved in any manner,
directly or indirectly, whether for the account of the Executive or for the
account of others, in the creation, the application for and the recording of
intellectual property rights beyond his proper performance under this
employment or, after the end thereof, the creation, the application for and the
recording of intellectual property rights concerning the existing or future
field of activities of Crucell.

11.3                           The
Executive shall throughout the duration of this agreement and for a period of
one year after termination hereof not induce or attempt to induce any director
or employee of Crucell or any of its affiliated companies to leave the
employment of Crucell or any of its affiliated companies.

11.4                           In
the event the Executive breaches the obligations as expressed in the paragraph
1, 2 and 3 of this article, the Executive shall without notice of default being
required, pay to Crucell for each such breach a penalty equal to an amount of €
25,000, plus a penalty of € 2,500 for each day such breach occurs and
continues. Alternatively, Crucell will be entitled to claim full damages.

12.                               NO ADDITIONAL OCCUPATION

12.1                           The
Executive shall refrain from accepting remunerated or time consuming non-remunerated
work activities with or for third parties or from doing business for his own
account without the prior written consent of the Supervisory Board. This
obligation also applies to any direct or indirect financial interest in any
company or business activity with the exception of ownership of stock traded on
a recognised stock exchange as long as the Executive holds less than 5% of such
traded stock.

13.                               INTELLECTUAL AND INDUSTRIAL PROPERTY RIGHTS

13.1                           The
Executive shall inform Crucell forthwith of every invention, procedure,
publication, design, model and in general every creative result in the field of
industrial or intellectual property attained by the Executive, if and to the
extent that it relates to Crucell’s business activities both in the Netherlands
and abroad. If the industrial and intellectual property rights attaching to the
invention, etc. do not automatically accrue to Crucell by virtue of the
employment relationship, the Executive shall at Crucell’s first request
transfer such rights to Crucell and co-operate fully in recording such rights
in the name of Crucell as exclusive owner, all at the expense of Crucell.

13.2                           The
Executive hereby irrevocably appoints Crucell as his agent for the purpose of
in his name preparing all documents and performing all other acts necessary for
the implementation of the provisions of this article and Crucell is hereby
authorised to appoint a sub-agent for the implementation of the foregoing.

13.3                           The
Executive acknowledges that his remuneration package includes reasonable
compensation for (his contribution to) the creation of intellectual and
industrial property rights.

 5
 

14.                               SEVERANCE ARRANGEMENT IN A CHANGE IN CONTROL SITUATION

14.1                           If,
within twelve months following a Change in Control, Crucell gives notice of
termination of this employment agreement, and this in a situation in which the
Executive has not given reasons which provide an urgent cause for such
termination as defined in article 7:678 of the Dutch Civil Code, then the
Executive shall be entitled to a severance payment. “Change in Control” means
the acquisition by any person, or persons, acting in concert, of more than 50%
of the issued share capital of Crucell conferring the right to attend and vote
at the General Meetings of Shareholders of Crucell or the substantial
reorganisation of Crucell following the sale of the whole or a part of Crucell
and resulting in no or a lesser position for the Executive. The severance
payment shall be calculated in accordance with then existing practices in the Netherlands,
but shall not be less than an amount equal to 24 months base salary as defined
in article 3.1 at the annual rate of salary payable immediately before
termination.

15.                               GIFTS

15.1                           The
Executive shall not in connection with the performance of his duties, directly
or indirectly, accept or demand commission, contributions or reimbursement in
any form whatsoever from third parties. This does not apply to customary
promotional gifts with a value not exceeding € 100,-.

16.                               MISCELLANEOUS

16.1                           This
agreement supersedes all previous agreements between the Executive and Crucell
and between the Executive and any of its subsidiaries or affiliated companies
and takes their place. After this agreement has been signed, the Executive and
Crucell can no longer derive any rights from agreements which have been
superseded herewith.

16.2                           This
agreement constitutes the entire employment agreement between the Executive and
Crucell. The Executive is not employed by any subsidiaries or affiliated
companies of Crucell.

16.3                           Amendments
to this agreement may only be agreed upon in writing and with regard to
Crucell, solely when a decision to that effect has been taken by the competent
body of Crucell.

17.                               APPLICABLE LAW, NO COLLECTIVE BARGAINING AGREEMENT

17.1                           This
agreement is governed by the laws of the Netherlands.

17.2                           No
Collective Bargaining Agreement is applicable to this agreement.

 6
 

SIGNATORIES

In witness whereof, this
agreement has been signed and executed in duplicate.

	
  SIGNED by:

  	
  L.Kruimer

  	
   

  
	
  For and on
  behalf of:

  
	
  Crucell N.V.

  
	
  date:

  
	
   

  
	
  SIGNED by:

  	
  R.H.P. Brus

  	
   

  
	
  date:

  
	
   

  
	
  SIGNED by:

  	
  J. Oosterveld

  	
   

  
	
  Chairman
  Supervisory Board Crucell N.V.

  
	
  date:

  

 

 7

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