Document:

EXHIBIT 10.6

                      THIRD AMENDED AND RESTATED TERM NOTE

$14,000,000.00
                                                                  March 26, 2008

     FOR VALUE RECEIVED, the undersigned, ARIAD PHARMACEUTICALS, INC., a
Delaware corporation, ARIAD CORPORATION, a Delaware corporation, and ARIAD GENE
THERAPEUTICS, INC., a Delaware corporation (hereinafter sometimes referred to
collectively as the "Borrowers and each singly as a Borrower"), HEREBY
UNCONDITIONALLY PROMISES TO PAY TO THE ORDER OF RBS CITIZENS, NATIONAL
ASSOCIATION, successor by merger to Citizens Bank of Massachusetts, a national
banking association (the "Lender") at the office of the Lender, located at 28
State Street, Boston, Massachusetts 02109 (or such other place as the holder
hereof may specify in writing), in lawful money of the United States of America
and in immediately available funds, the principal amount of FOURTEEN MILLION AND
00/100 DOLLARS ($14,000,000.00) (the "Loan"). The Borrowers jointly and
severally agree to pay the principal amount of the Loan in the amounts and on
the dates specified in subsection 2.5 of the Credit Agreement dated March 12,
2003, as amended by Amendment No. 1 to Credit Agreement, dated December 31,
2003, as further amended by Amendment No. 2 to Credit Agreement, dated December
31, 2004, as further amended by Amendment No. 3 to Credit Agreement, of even
date herewith (as the same may be further amended, modified, supplemented,
extended or restated from time to time, the "Credit Agreement") by and between
the Lender and the Borrowers. The Borrowers further agree to pay interest on the
unpaid principal balance of the Loan from time to time outstanding from the
Closing Date until paid, at the rates and at the times provided in the Credit
Agreement.

     This Note is issued pursuant to the Credit Agreement, and the holder hereof
is entitled to, and shall have, all of the benefits of the Credit Agreement, and
all other agreements, instruments, guarantees and other documents executed and
delivered in connection therewith and herewith. All capitalized terms not
defined herein but defined in the Credit Agreement shall have the meanings given
to such terms in the Credit Agreement.

     This Note is secured as provided in the Security Documents. Reference is
hereby made to the Security Documents for a description of the properties and
assets in which a security interest has been granted, the nature and extent of
the security, the terms and conditions upon which the security interests were
granted and the rights of the holder of this Note in respect thereof.

     Upon the occurrence and during the continuance of any one or more of the
Events of Default, all amounts then remaining unpaid on this Note shall become,
or may be declared to be, immediately due and payable, all as provided in the
Credit Agreement.

     All parties now and hereafter liable with respect to this Note, whether
maker, principal, surety, guarantor, endorser or otherwise, hereby waive
presentment, demand, protest and all other notices of any kind.

     This Note shall be binding upon the Borrowers and their successors and
assigns, and shall inure to the benefit of the Lender and its successors,
assigns, endorsees and transferees.

     All of the obligations and liabilities of the Borrowers under the Note are
joint and several.

                                     - 1 -
<PAGE>

     EACH BORROWER AND THE LENDER HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A
TRIAL BY JURY OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS
NOTE, ANY OF THE OTHER FINANCING DOCUMENTS OR ANY OF THE TRANSACTIONS
CONTEMPLATED HEREIN OR THEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH
OF DUTY CLAIMS AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS.

     This Note and the other Financing Documents are executed and delivered
under seal and shall be construed in accordance with and governed by the laws of
The Commonwealth of Massachusetts, without giving effect to the conflict of law
provisions thereof. Each Borrower submits itself to the non-exclusive
jurisdiction of the Courts of The Commonwealth of Massachusetts for all purposes
with respect to the Financing Documents and such Borrower's relationship with
the Lender.

     This Third Amended and Restated Term Note replaces and supersedes an
earlier note in the amount of $9,575,000.00 from the Borrowers to the Lender
dated December 31, 2004.

     IN WITNESS WHEREOF, the undersigned has executed this Note under its seal
as of the date first written above.

WITNESS TO ALL:                                 ARIAD PHARMACEUTICALS, INC.

                                                By: /s/ Edward M. Fitzgerald
                                                    ----------------------------
/s/ Barbara D. Matyskiel                            Name: Edward M. Fitzgerald
--------------------------                          Title: Senior Vice President
Name: Barbara D. Matyskiel                                 and Chief Financial
                                                           Officer

                                                ARIAD CORPORATION

                                                By: /s/ Edward M. Fitzgerald
                                                    ----------------------------
                                                    Name: Edward M. Fitzgerald
                                                    Title: Vice President and
                                                           Chief Financial
                                                           Officer

                                                ARIAD GENE THERAPEUTICS, INC.

                                                By: /s/ Harvey J. Berger
                                                    ---------------------------
                                                    Name: Harvey J. Berger, M.D.
                                                    Title: Chief Executive
                                                           Officer

                                     - 2 -Exhibit 10.92b
    

    

    

    
      Ore Pharmaceuticals 2008 Incentive
      Compensation Plan Document
    

    
      I. Purpose
    

    
      The purpose of the Plan is to provide an
      incentive opportunity to eligible employees of Ore Pharmaceuticals Inc.
      ("Ore") to drive performance towards the achievement of Ore Performance
      Goals in 2008. 
    

    

    

    
      II. Plan Period
    

    
      The Plan period is January 1 – December
      31, 2008. 
    

    

    

    
      III. Eligibility
    

    
      Employees must meet the following
      requirements to be eligible for the program:
    

    	
        full-time (i.e. working at least 30
        hours per week or more)
      
	
        commencing full-time employment by
        9/30/2008
      

    
      Eligibility equates only to the
      opportunity to earn an award. Refer to section VI for more detail on the
      determination of individual awards. Eligibility also requires that the
      employee be an employee of Ore as of December 31, 2008 as described in
      Section VII. Certain executive officers are not covered by the program,
      unless otherwise agreed. 
    

    

    

    
      IV. Individual Award Target
    

    
      The annual individual incentive target for
      each eligible employee is set, based on the job grade assigned to each
      employee, as a percentage of the employee’s ending base salary for the
      performance year as reflected in the chart below. The job grade assigned
      to an eligible employee on 12/31/2008 determines the appropriate annual
      target for such employee. The target is based on achievement of 100% of
      the applicable Ore Performance Goals. 
    

    

    

    	
          PROFESSIONAL
        	
          SCIENTIFIC
        	
          MANAGEMENT
        	
          NONEXEMPT
        	
          
            ANNUAL TARGET 
as % of salary
          

          
            (Certain exceptions exist)
          

        
	
          P99
        	
           
        	
          M00
        	
           
        	
          Varies
        
	
          P07, P08
        	
          SC08, SC09, SC10
        	
          M06, M07, M08
        	
           
        	
          13.00%
        
	
          P05, P06
        	
          SC06, SC07
        	
          M04
        	
           
        	
          10.50%
        
	
          P03, P04
        	
          SC04, SC05
        	
          M01, M03
        	
           
        	
          8.00%
        
	
          P01, P02
        	
          SC02, SC03
        	
           
        	
           
        	
          6.00%
        
	
           
        	
           
        	
           
        	
          N01 - N06
        	
          5.00%
        

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
      Exhibit 10.92b

    

    
      V. Ore Performance Goals
    

    
      Exhibit A specifies the Ore Performance
      Goals for 2008 that determine what percentage of each employee’s
      incentive target is earned and the percentage that each goal represents
      of the entire Performance Goals. Exhibit A may also specify additional
      percentages or amounts applicable to certain goals that are exceeded. 
    

    

    

    
      VI. Determination of Individual Awards
    

    
      An individual employee’s incentive
      compensation will be equal to:
    

    
      salary (as
      of 12/31/08) x
      ICP target
      x
      percentage achieved of Ore
      Performance Goals x proration (if
      any)
    

    
      For any employee commencing employment
      after the beginning of the Plan period, the employee’s incentive
      compensation will be further adjusted to reflect the percentage of the
      Plan Period that such employee was employed (e.g. if an employee began
      work on July 1 of the Plan period, that employee’s incentive
      compensation would be roughly 1⁄2 of the incentive compensation determined
      by the formula above).
    

    
      The determination as to whether and to
      what degree Ore Performance Goals are achieved and the payments to
      executive officers of the Company and any other Senior Vice Presidents
      that report directly to the Chief Executive Officer must be approved by
      the Compensation Committee of the Board of Directors. Any payment
      hereunder to the Chief Executive Officer must also be approved by the
      Board of Directors. 
    

    

    

    
      VII. Payout of Awards
    

    
      Awards are scheduled
      to be paid out in the 1st
      quarter of 2009.
    

    
      To be eligible to receive an award, on the
      last working day of the Plan period (12/31/2008) an employee must be an
      active, full-time employee or on a leave status approved by Human
      Resources. Employees whose employment by Ore terminates, whether
      voluntarily or involuntarily, after the last working day of the Plan
      period and employees who are on an approved leave status on the last
      working day of the Plan period, but in either such case before the
      actual payout of awards, are eligible to receive an incentive award,
      subject to the provisions in paragraph VI above, and without penalty
      solely for having left employment by Ore after the last working day of
      the Plan period.
    

    
      The achievement of Ore Performance Goals
      cannot be calculated until after the end of the Plan period. Therefore,
      eligible employees whose employment terminates, either voluntarily or
      involuntarily, prior to the end of the Plan period will not be eligible
      for any award under this Plan.
    

    
      All award payouts will be subject to
      applicable payroll tax and benefits withholdings. 
    

    

    

    
      VIII. Amendment or Termination of the
      Plan
    

    
      Ore reserves full power and discretion to
      administer, construe, and interpret the Plan and to determine all issues
      regarding eligibility and amount of payment. Ore may amend, supplement,
      supersede or terminate this Plan at any time at the discretion of
      executive management and/or Ore’s Board of Directors or its Compensation
      Committee. The Board of Directors or its Compensation Committee may also
      determine if and how extraordinary events will be taken into account in
      determining how such extraordinary events will affect the Plan and
      whether and to what degree the plan will be funded. Further, the terms
      and conditions of the Plan may be altered or eliminated in subsequent
      years.
    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
      Exhibit 10.92b
    

    

    

    
      IX. Relationship of Plan to Employment
    

    
      This plan is not intended to create a term
      of employment between any employee and Ore or any right to continuation
      of employment by Ore during the Plan Period. Employment of any
      individual at Ore may be terminated by either Ore or the individual,
      with or without cause, at any time.
    

    

    

    
      X. Country Specific Laws
    

    
      Where local law requires any modification
      to what is prescribed in this Plan in terms of incentive eligibility,
      guidelines and/or payout of awards, local law must be adhered to.
      However, Ore reserves the right, to the extent permitted or not
      prohibited by such law, to determine how the plan shall be modified to
      comply with such law or whether to provide alternate consideration as
      determined by Ore in lieu of the incentive award herein specified.
    

    

    

    
      XI. Approvals:
    

    	
          ________________________________
        	

        
	
          Al Risdorfer
        	
          ___/____/2008
        
	
          Vice President of Human Resources
        	

        
	
           
        
	
          ________________________________
        	

        
	
          Phil Rohrer
        	
          ___/____/2008
        
	
          Chief Financial Officer
        	

        
	
           
        
	
          ________________________________
        	

        
	
          Charles L. Dimmler III
        	
          ___/____/2008
        
	
          Chief Executive Officer
        	

        

    

    

    

    

    
      Recommended by resolution of the
      Compensation Committee of the Board of Directors of 
Ore
      Pharmaceuticals Inc. on March 20, 2008 and approved by the Board on
      March 21, 2008

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