Document:

Exhibit 10.19

                      STOCKHOLDER REPRESENTATION STATEMENT

                       AND TRANSFER RESTRICTION AGREEMENT

       This  Stockholder   Representation  Statement  and  Transfer  Restriction
Agreement  (this  "AGREEMENT")  is  dated as of June 14,  2005,  by and  between
Secured  Services,  Inc.,  a  Delaware  corporation  (the  "COMPANY"),  and  the
undersigned  holder ("HOLDER") of issued and outstanding shares of capital stock
of Chameleon Technologies,  Inc. ("CHAMELEON") identified on the signature pages
hereto.

       WHEREAS,  subject to the terms and conditions set forth in this Agreement
and  pursuant to Section  4(2) of the  Securities  Act of 1933,  as amended (the
"SECURITIES  ACT") and Rule 506 promulgated  thereunder,  the Company desires to
issue and sell to Holder,  and  Holder  desires to  purchase  from the  Company,
securities of the Company pursuant to the terms of the Merger Agreement.

       NOW,  THEREFORE,  IN CONSIDERATION  of the mutual covenants  contained in
this Agreement,  and for other good and valuable  consideration  the receipt and
adequacy  of which are hereby  acknowledged,  the  Company  and Holder  agree as
follows:

                                    ARTICLE I
                                   DEFINITIONS

       1.1    DEFINITIONS.  In addition to the terms  defined  elsewhere in this
Agreement:  (a) capitalized terms that are not otherwise defined herein have the
meanings  given to such terms in the  Certificate  of  Designation  (as  defined
herein), and (b) the following terms have the meanings indicated in this Section
1.1:

              "AFFILIATE" means any Person that,  directly or indirectly through
       one or more  intermediaries,  controls  or is  controlled  by or is under
       common  control  with a Person,  as such terms are used in and  construed
       under Rule 144 under the  Securities  Act. With respect to a Holder,  any
       investment  fund or managed  account  that is managed on a  discretionary
       basis by the same investment  manager as such Holder will be deemed to be
       an Affiliate of such Holder.

              "CERTIFICATE OF DESIGNATION"  means the Certificate of Designation
       to be filed  prior to the Closing by the Company  with the  Secretary  of
       State of Delaware.

              "CLOSING" means the closing of the Merger.

              "CLOSING  DATE" means the  Trading Day when all of the  conditions
       precedent to closing of the Merger have been satisfied or waived.

              "COMMISSION"   means  the  Securities  and  Exchange   Commission.

              "COMMON  STOCK" means the common  stock of the Company,  par value
       $0.0001

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       per share,  and any other class of securities  into which such securities
       may hereafter have been reclassified or changed into.

              "COMPANY COUNSEL" means Morse, Zelnick, Rose & Lander, LLP.

              "CONVERSION PRICE" shall have the meaning ascribed to such term in
       the Certificate of Designation.

              "DEBENTURES"  means the debentures  sold pursuant to the Debenture
       Purchase Agreement.

              "DEBENTURE  PURCHASE  AGREEMENT"  means  the  Securities  Purchase
       Agreement,  dated  as of June  13,  2005,  between  the  Company  and the
       purchasers signatory thereto.

              "DEBENTURE PURCHASER" the purchasers of Debentures pursuant to the
       Debenture Purchase Agreement.

              "EFFECTIVE  DATE"  means  the date that the  initial  Registration
       Statement filed by the Company  pursuant to the Investor Rights Agreement
       is first declared effective by the Commission.

              "EXCHANGE  ACT"  means the  Securities  Exchange  Act of 1934,  as
       amended, and the rules and regulations promulgated thereunder.

              "INVESTOR RIGHTS  AGREEMENT" means the Investor Rights  Agreement,
       dated the date hereof, among the Company and the signatories thereto.

              "LEGEND REMOVAL DATE" shall have the meaning ascribed to such term
       in Section 4.1(c).

              "MAXIMUM  RATE"  shall have the  meaning  ascribed to such term in
       Section 5.17.

              "MAXIMUM  DEBENTURE  AMOUNT" shall mean the total aggregate dollar
       amount of Debentures sold pursuant to the Debenture Purchase Agreement.

              "MAXIMUM  SECURITIES AMOUNT" shall mean the total aggregate number
       of shares of Common  Stock  issued or  issuable  pursuant  to the  Merger
       Agreement, assuming for this purpose the exercise of all Securities which
       are  exercisable,  the conversion of all Securities which are convertible
       and the conversion  and exercise with respect to  convertible  Securities
       which are convertible into exercisable Securities.

              "MERGER  AGREEMENT"  means the Merger  Agreement  by and among the
       Company, Chameleon and Secured Mobile, Inc.

              "MERGER"  means the  merger  of  Chameleon  with and into  Secured
       Mobile, Inc. pursuant to the terms of the Merger Agreement.

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              "MERGER  HOLDERS" means the  recipients of Securities  pursuant to
       the Merger.

              "PERMITTED  PLEDGE" means a pledge  pursuant to a bona fide margin
       agreement with a registered broker-dealer or grant a security interest in
       some  or all of the  Securities  to a  financial  institution  that is an
       "accredited  investor" as defined in Rule 501(a) under the Securities Act
       and who agrees to be bound by the  provisions  of this  Agreement and the
       Investor  Rights  Agreement  and,  if  required  under  the terms of such
       arrangement,  Holder may transfer  pledged or secured  Securities  to the
       pledgees or secured parties.

              "PERSON" means an individual or corporation,  partnership,  trust,
       incorporated  or  unincorporated  association,   joint  venture,  limited
       liability  company,  joint  stock  company,  government  (or an agency or
       subdivision thereof) or other entity of any kind.

              "PREFERRED  STOCK" means the up to 5,000  shares of the  Company's
       7.5% Series ___ Convertible  Preferred Stock issued  hereunder having the
       rights,  preferences  and  privileges  set  forth in the  Certificate  of
       Designation.

              "REGISTRATION  STATEMENT" means a registration  statement  meeting
       the  requirements set forth in the Investor Rights Agreement and covering
       the resale of the Underlying  Shares by each purchaser as provided for in
       the Investor Rights Agreement.

              "RULE 144" means Rule 144  promulgated by the Commission  pursuant
       to the Securities  Act, as such Rule may be amended from time to time, or
       any similar rule or regulation hereafter adopted by the Commission having
       substantially the same effect as such Rule.

              "SECURITIES"  means the  Preferred  Stock,  the  Warrants  and the
       Underlying Shares.

              "SECURITIES ACT" means the Securities Act of 1933, as amended.

              "STATED VALUE" means $1,000 per share of Preferred Stock.

              "TRADING DAY" means a day on which the Common Stock is traded on a
       Trading Market.

              "TRADING MARKET" means the following markets or exchanges on which
       the Common Stock is listed or quoted for trading on the date in question:
       the Nasdaq SmallCap  Market,  the American Stock  Exchange,  the New York
       Stock Exchange, the Nasdaq National Market or the OTC Bulletin Board.

              "TRANSACTION   DOCUMENTS"   means  this   Agreement,   the  Merger
       Agreement,  the  Certificate of Designation,  the Warrants,  the Investor
       Rights  Agreement  and any other  documents  or  agreements  executed  in
       connection with the transactions contemplated hereunder.

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              "TRANSFER" means, with respect to securities,  any sale,  transfer
       or exchange,  in each case for  consideration;  PROVIDED that a Permitted
       Pledge shall not constitute a Transfer.

              "UNDERLYING  SHARES"  means the shares of Common  Stock issued and
       issuable upon  conversion of the  Preferred  Stock,  upon exercise of the
       Warrants and issued and issuable in lieu of the cash payment of dividends
       on the Preferred Stock in accordance with the terms of the Certificate of
       Designation.

              "VWAP" means,  for any date, the price  determined by the first of
       the  following  clauses  that  applies:  (a) if the Common  Stock is then
       listed or quoted on a Trading Market,  the daily volume weighted  average
       price of the Common Stock for such date (or the nearest  preceding  date)
       on the primary Trading Market on which the Common Stock is then listed or
       quoted as reported by Bloomberg  Financial  L.P.  (based on a Trading Day
       from 9:30 a.m. EST to 4:02 p.m. Eastern Time) using the VAP function; (b)
       if the Common  Stock is not then listed or quoted on the  Trading  Market
       and if prices for the Common Stock are then reported in the "Pink Sheets"
       published by the Pink Sheets,  LLC (or a similar  organization  or agency
       succeeding  to its  functions of reporting  prices),  the most recent bid
       price  per share of the  Common  Stock so  reported;  or (c) in all other
       cases,  the fair market value of a share of Common Stock as determined by
       a nationally  recognized-independent  appraiser selected in good faith by
       Merger  Holders  holding a majority of the Stated  Value of the shares of
       Preferred Stock then outstanding.

              "WARRANTS" means  collectively the Common Stock purchase  warrants
       delivered  to the Merger  Holders at the Closing in  accordance  with the
       Merger  Agreement,  which Warrants shall be exercisable  immediately  and
       have a term of exercise equal to four years.

              "WARRANT  SHARES"  means the shares of Common Stock  issuable upon
       exercise of the Warrants.

                                   ARTICLE II
                    REPRESENTATIONS AND WARRANTIES OF HOLDER

       The  undersigned  Holder  hereby,  for  itself  and for no other  Person,
represents  and warrants as of the date hereof and as of the Closing Date to the
Company as follows:

       2.1    OWN  ACCOUNT.   Holder   understands   that  the   Securities  are
"restricted securities" and have not been registered under the Securities Act or
any applicable state securities law and is acquiring the Securities as principal
for its own account and not with a view to or for distributing or reselling such
Securities  or any  part  thereof  in  violation  of the  Securities  Act or any
applicable state securities law, has no present intention of distributing any of
such  Securities  in violation of the  Securities  Act or any  applicable  state
securities law and has no arrangement  or  understanding  with any other persons
regarding  the  distribution  of  such   Securities   (this  representation  and

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warranty not limiting such Holder's right to sell the Securities pursuant to the
Registration  Statement or otherwise in compliance with  applicable  federal and
state  securities  laws) in violation of the  Securities  Act or any  applicable
state  securities  law.  Holder is  acquiring  the  Securities  hereunder in the
ordinary  course  of its  business.  Holder  does  not  have  any  agreement  or
understanding,  directly or indirectly, with any Person to distribute any of the
Securities.

       2.2    HOLDER STATUS.  At the time Holder was offered the Securities,  it
was,  and at the date  hereof it is, and on each date on which it  converts  any
shares of Preferred  Stock or exercises any Warrants,  it will be an "accredited
investor" as defined in Rule 501(a)(1),  (a)(2),  (a)(3), (a)(7) or (a)(8) under
the Securities Act.

       2.3    EXPERIENCE  OF HOLDER.  Holder,  either alone or together with its
representatives,  has such knowledge,  sophistication and experience in business
and financial  matters so as to be capable of evaluating the merits and risks of
the prospective  investment in the  Securities,  and has so evaluated the merits
and risks of such  investment.  Holder is able to bear the  economic  risk of an
investment  in the  Securities  and,  at the present  time,  is able to afford a
complete loss of such investment.

       2.4    GENERAL SOLICITATION. Holder is not purchasing the Securities as a
result of any advertisement,  article,  notice or other communication  regarding
the  Securities  published  in any  newspaper,  magazine  or  similar  media  or
broadcast  over  television  or radio or  presented  at any seminar or any other
general solicitation or general advertisement.

       2.5    SEC REPORTS.  Holder has received from the Company the SEC Reports
(as defined in the Merger  Agreement) and has had an opportunity to speak to and
ask  questions  of the  officers  of the Company  concerning  the  Company,  its
financial  condition,  its business and  prospects  which the Holder deems to be
adequate.

       The Company  acknowledges and agrees that the Holder does not make or has
not made any  representations  or  warranties  with respect to the  transactions
contemplated hereby other than those specifically set forth in this Article II.

                                   ARTICLE III
                        CONTRACTUAL TRANSFER RESTRICTIONS

       3.1    TRANSFER  RESTRICTIONS.  Holder has  executed  the form of lock-up
agreement attached hereto as Exhibit A (the "LOCK-UP AGREEMENT").

       3.2    LEGEND.   Holder  agrees  to  the  imprinting,   so  long  as  the
restrictions of the Lock-Up Agreement are applicable,  of a legend on any of the
Securities in the following form:

       THESE  SECURITIES  [AND THE  SECURITIES  INTO WHICH THESE  SECURITIES ARE
       [EXERCISABLE]   [CONVERTIBLE]]   ARE   SUBJECT  TO  CERTAIN   CONTRACTUAL
       RESTRICTIONS ON TRANSFER.  A COPY OF THE AGREEMENT  RESTRICTING  TRANSFER
       MAY BE  OBTAINED  WITHOUT  CHARGE  FROM THE  COMPANY'S  SECRETARY.  THESE
       SECURITIES AND THE

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       SECURITIES  ISSUABLE UPON EXERCISE OF THESE  SECURITIES MAY BE PLEDGED IN
       CONNECTION  WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH
       SECURITIES.

       The Company agrees that at such time as such legend is no longer required
under this Article III, it will, no later than three Trading Days  following the
delivery  by  Holder  to the  Company  and the  Company's  transfer  agent  of a
certificate representing Securities issued with a restrictive legend, deliver or
cause to be delivered to Holder a certificate  representing  such shares that is
free from the restrictive legends otherwise required by this Article III.

                                   ARTICLE IV
                         OTHER AGREEMENTS OF THE PARTIES

       4.1    SECURITIES LAWS TRANSFER RESTRICTIONS.

              (a)    The Securities  may only be disposed of in compliance  with
       state and federal  securities  laws. In  connection  with any transfer of
       Securities other than pursuant to an effective  registration statement or
       Rule  144,  to  the  Company  or  to  an  affiliate  of  Holder,  or to a
       constituent partner, limited partner, member (or retired partner, limited
       partner  or  member)  of  Holder  or  in  connection  with  a  pledge  as
       contemplated  in Section  4.1(b),  the Company may require the transferor
       thereof to provide to the  Company an opinion of counsel  selected by the
       transferor  and  reasonably  acceptable  to the  Company,  the  form  and
       substance  of which  opinion  shall  be  reasonably  satisfactory  to the
       Company,  to the effect that such transfer does not require  registration
       of such  transferred  Securities under the Securities Act. As a condition
       of transfer,  any such  transferee  shall agree in writing to be bound by
       the terms of this  Agreement  and shall have the rights of a Holder under
       this Agreement and the Investor Rights Agreement.

              (b)    Holder agrees to the imprinting,  so long as is required by
       this  Section  4.1(b),  of a  legend  on  any of  the  Securities  in the
       following form:

       [NEITHER]   THESE   SECURITIES  [NOR  THE  SECURITIES  INTO  WHICH  THESE
       SECURITIES ARE [EXERCISABLE] [CONVERTIBLE]] HAVE BEEN REGISTERED WITH THE
       SECURITIES AND EXCHANGE  COMMISSION OR THE  SECURITIES  COMMISSION OF ANY
       STATE  IN  RELIANCE  UPON  AN  EXEMPTION  FROM  REGISTRATION   UNDER  THE
       SECURITIES  ACT  OF  1933,  AS  AMENDED  (THE  "SECURITIES   ACT"),  AND,
       ACCORDINGLY,  MAY NOT BE OFFERED OR SOLD EXCEPT  PURSUANT TO AN EFFECTIVE
       REGISTRATION  STATEMENT  UNDER  THE  SECURITIES  ACT  OR  PURSUANT  TO AN
       AVAILABLE  EXEMPTION  FROM,  OR IN A  TRANSACTION  NOT  SUBJECT  TO,  THE
       REGISTRATION  REQUIREMENTS  OF THE SECURITIES ACT AND IN ACCORDANCE  WITH
       APPLICABLE  STATE  SECURITIES  LAWS AS  EVIDENCED  BY A LEGAL  OPINION OF
       COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE
       REASONABLY ACCEPTABLE TO THE COMPANY. THESE SECURITIES AND THE SECURITIES
       ISSUABLE UPON EXERCISE OF THESE  SECURITIES  MAY BE PLEDGED IN CONNECTION
       WITH

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       A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

              The Company  acknowledges  and agrees that Holder may from time to
       time enter into a Permitted  Pledge in some or all of the Securities and,
       if  required  under the terms of such  arrangement,  Holder may  transfer
       pledged or secured Securities to the pledgees or secured parties.  Such a
       pledge or transfer would not be subject to approval of the Company and no
       legal opinion of legal  counsel of the pledgee,  secured party or pledgor
       shall be required in connection  therewith.  Further,  no notice shall be
       required of such pledge. At the appropriate Holder's expense, the Company
       will execute and deliver such  reasonable  documentation  as a pledgee or
       secured party of Securities may reasonably  request in connection  with a
       pledge or transfer of the  Securities,  including,  if the Securities are
       subject to registration  pursuant to the Investor Rights  Agreement,  the
       preparation and filing of any required  prospectus  supplement under Rule
       424(b)(3) under the Securities Act or other  applicable  provision of the
       Securities Act to  appropriately  amend the list of Selling  Stockholders
       thereunder.

              (c)    Certificates  evidencing  the  Underlying  Shares shall not
       contain  any legend  (including  the  legend set forth in Section  4.1(b)
       hereof):  (i) while a registration  statement (including the Registration
       Statement)  covering the resale of such  security is effective  under the
       Securities  Act, or (ii)  following  any sale of such  Underlying  Shares
       pursuant to Rule 144, or (iii) if such Underlying Shares are eligible for
       sale under Rule  144(k),  or (iv) if such  legend is not  required  under
       applicable   requirements  of  the  Securities  Act  (including  judicial
       interpretations   and   pronouncements   issued   by  the  staff  of  the
       Commission). The Company shall cause its counsel to issue a legal opinion
       to the Company's  transfer  agent  promptly  after the Effective  Date if
       required  by the  Company's  transfer  agent to effect the removal of the
       legend hereunder.  If all or any shares of Preferred Stock or any portion
       of a Warrant is  converted or exercised  (as  applicable)  at a time when
       there is an effective  registration  statement to cover the resale of the
       Underlying  Shares,  or if such Underlying  Shares may be sold under Rule
       144(k)  or if such  legend is not  otherwise  required  under  applicable
       requirements  of the Securities Act (including  judicial  interpretations
       thereof) then such Underlying Shares shall be issued free of all legends.
       The Company  agrees that  following the Effective Date or at such time as
       such legend is no longer required under this Section 4.1(c),  it will, no
       later than three  Trading  Days  following  the delivery by Holder to the
       Company or the Company's  transfer  agent of a  certificate  representing
       Underlying Shares, as applicable,  issued with a restrictive legend (such
       third  Trading Day, the "LEGEND  REMOVAL  DATE"),  deliver or cause to be
       delivered to Holder a certificate  representing  such shares that is free
       from all  restrictive  and other  legends.  The  Company may not make any
       notation on its records or give instructions to any transfer agent of the
       Company  that  enlarge the  restrictions  on  transfer  set forth in this
       Section.  Certificates for Securities subject to legend removal hereunder
       shall be  transmitted  by the transfer  agent of the Company to Holder by
       crediting the account of Holder's prime broker with the Depository  Trust
       Company System.

              (d)    In addition  to  Holder's  other  available  remedies,  the
       Company shall pay to

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       Holder, in cash, as partial liquidated damages and not as a penalty,  for
       each $2,000 of  Underlying  Shares (based on the VWAP of the Common Stock
       on the date such  Securities  are  submitted  to the  Company's  transfer
       agent)  delivered  for removal of the  restrictive  legend and subject to
       Section 4.1(c),  $10 per Trading Day (increasing to $20 per Trading Day 5
       Trading  Days after such  damages  have begun to accrue) for each Trading
       Day after the second Trading Day after the Legend Removal Date until such
       certificate  is delivered  without a legend.  Nothing  herein shall limit
       Holder's  right to pursue  actual  damages for the  Company's  failure to
       deliver  certificates  representing  any  Securities  as  required by the
       Transaction  Documents,  and  Holder  shall  have the right to pursue all
       remedies  available  to  it  at  law  or  in  equity  including,  without
       limitation, a decree of specific performance and/or injunctive relief.

              (e)    Holder, severally and not jointly with the other recipients
       of capital stock of the Company  pursuant to the Merger,  agrees that the
       removal  of  the  restrictive   legend  from  certificates   representing
       Securities  as set  forth  in this  Section  4.1 is  predicated  upon the
       Company's  reliance that Holder will sell any Securities only pursuant to
       either the registration requirements of the Securities Act, including any
       applicable prospectus delivery requirements, or an exemption therefrom.

              (f)    Until the one year  anniversary of the Effective  Date, the
       Company  shall  not  undertake  a  reverse  or  forward  stock  split  or
       reclassification of the Common Stock without the prior written consent of
       the  Merger  Holders  holding a  majority  in  interest  of the shares of
       Preferred Stock.

       4.2    ACKNOWLEDGMENT  OF  DILUTION.  The Company  acknowledges  that the
issuance of the Securities may result in dilution of the  outstanding  shares of
Common Stock, which dilution may be substantial under certain market conditions.
The Company  further  acknowledges  that its  obligations  under the Transaction
Documents,  including without  limitation its obligation to issue the Underlying
Shares pursuant to the Transaction Documents, are unconditional and absolute and
not  subject  to any  right  of  set  off,  counterclaim,  delay  or  reduction,
regardless  of the effect of any such dilution or any claim the Company may have
against  any Merger  Holder and  regardless  of the  dilutive  effect  that such
issuance may have on the ownership of the other stockholders of the Company.

       4.3    FURNISHING OF INFORMATION.  As long as Holder owns Securities, the
Company  covenants to use its best efforts to timely file (or obtain  extensions
in respect  thereof and file  within the  applicable  grace  period) all reports
required  to be filed by the  Company  after  the date  hereof  pursuant  to the
Exchange Act. As long as Holder owns Securities,  if the Company is not required
to file  reports  pursuant to the  Exchange  Act, it will prepare and furnish to
Holder  and  make  publicly  available  in  accordance  with  Rule  144(c)  such
information as is required for Holder to sell the Securities under Rule 144. The
Company further covenants that it will take such further action as any holder of
Securities may reasonably request,  all to the extent required from time to time
to enable such Person to sell such  Securities  without  registration  under the
Securities Act within the limitation of the exemptions provided by Rule 144.

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       4.4    INTEGRATION. The Company shall not sell, offer for sale or solicit
offers to buy or  otherwise  negotiate in respect of any security (as defined in
Section 2 of the Securities Act) that would be integrated with the offer or sale
of the  Securities  in a manner that would  require the  registration  under the
Securities  Act of the  sale  of the  Securities  to  Holder  or that  would  be
integrated  with the offer or sale of the  Securities  for purposes of the rules
and regulations of any Trading Market.

       4.5    CONVERSION AND EXERCISE PROCEDURES. The form of Notice of Exercise
included in the  Warrants and the form of Notice of  Conversion  included in the
Certificate of Designation set forth the totality of the procedures  required of
Holder in order to exercise  the  Warrants or convert the  Preferred  Stock.  No
additional legal opinion or other information or instructions  shall be required
of Holder to exercise its Warrants or convert its Preferred  Stock.  The Company
shall honor exercises of the Warrants and conversions of the Preferred Stock and
shall deliver  Underlying  Shares in accordance  with the terms,  conditions and
time periods set forth in the Transaction Documents.

       4.6    SECURITIES LAWS DISCLOSURE;  PUBLICITY. The Company shall, by 8:30
a.m. Eastern time on the Trading Day following the date hereof,  issue a Current
Report on Form 8-K, reasonably  acceptable to Chameleon  disclosing the material
terms of the transactions  contemplated hereby, and shall attach the Transaction
Documents  thereto.  The Company  and Holder  shall  consult  with each other in
issuing any other press releases with respect to the  transactions  contemplated
hereby, and neither the Company nor Holder shall issue any such press release or
otherwise  make any such  public  statement  without  the prior  consent  of the
Company,  with  respect to any press  release of  Holder,  or without  the prior
consent  of Holder,  with  respect to any press  release of the  Company,  which
consent  shall  not  unreasonably  be  withheld,  except if such  disclosure  is
required by law, in which case the disclosing  party shall promptly  provide the
other  party  with  prior  notice of such  public  statement  or  communication.
Notwithstanding the foregoing,  the Company shall not publicly disclose the name
of Holder,  or include the name of Holder in any filing with the  Commission  or
any regulatory  agency or Trading  Market,  without the prior written consent of
Holder,  except (i) as required by federal securities law in connection with the
registration statement contemplated by the Investor Rights Agreement and (ii) to
the extent such disclosure is required by law or Trading Market regulations,  in
which case the Company  shall  provide the Merger  Holders  with prior notice of
such disclosure permitted under subclause (i) or (ii).

       4.7    SHAREHOLDER  RIGHTS PLAN. No claim will be made or enforced by the
Company or, to the knowledge of the Company,  any other Person that Holder is an
"Acquiring  Person"  under  any  shareholder  rights  plan  or  similar  plan or
arrangement in effect or hereafter adopted by the Company,  or that Holder could
be deemed to trigger the provisions of any such plan or  arrangement,  by virtue
of  receiving  Securities  under the  Transaction  Documents  or under any other
agreement between the Company and Holder. The Company shall conduct its business
in a manner so that it will not become subject to the Investment Company Act.

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                                    ARTICLE V
                                  MISCELLANEOUS

       5.1    TERMINATION.  This  Agreement may be  terminated by Holder,  as to
Holder's  obligations  hereunder  only, by written notice to the other party, if
the Closing has not been  consummated  on or before  June ___,  2005;  PROVIDED,
HOWEVER,  that no such termination will affect the right of any party to sue for
any breach by the other party (or parties).

       5.2    FEES  AND   EXPENSES.   Except  as  expressly  set  forth  in  the
Transaction  Documents  to the  contrary,  each  party  shall  pay the  fees and
expenses of its advisers,  counsel,  accountants and other experts,  if any, and
all  other  expenses  incurred  by  such  party  incident  to  the  negotiation,
preparation,  execution, delivery and performance of this Agreement. The Company
shall pay all transfer agent fees, stamp taxes and other taxes and duties levied
in connection with the delivery of any Securities.

       5.3    ENTIRE  AGREEMENT.  The Transaction  Documents,  together with the
exhibits and schedules thereto,  contain the entire understanding of the parties
with respect to the subject matter hereof and supersede all prior agreements and
understandings, oral or written, with respect to such matters, which the parties
acknowledge have been merged into such documents, exhibits and schedules.

       5.4    NOTICES. Any and all notices or other communications or deliveries
required or permitted to be provided  hereunder shall be in writing and shall be
deemed given and effective on the earliest of (a) the date of  transmission,  if
such notice or  communication is delivered via facsimile at the facsimile number
set forth on the signature  pages  attached  hereto prior to 5:30 p.m. (New York
City  time)  on a  Trading  Day,  (b) the next  Trading  Day  after  the date of
transmission,  if such notice or communication is delivered via facsimile at the
facsimile  number set forth on the signature pages attached hereto on a day that
is not a Trading Day or later than 5:30 p.m. (New York City time) on any Trading
Day, (c) the second  Trading Day following the date of mailing,  if sent by U.S.
nationally  recognized  overnight courier service, or (d) upon actual receipt by
the party to whom such  notice is  required  to be given.  The  address for such
notices and communications shall be as set forth on the signature pages attached
hereto.

       5.5    AMENDMENTS;  WAIVERS. No provision of this Agreement may be waived
or amended except in a written  instrument  signed, in the case of an amendment,
by the Company and Holder or, in the case of a waiver, by the party against whom
enforcement of any such waiver is sought.  No waiver of any default with respect
to any provision,  condition or requirement of this Agreement shall be deemed to
be a continuing waiver in the future or a waiver of any subsequent  default or a
waiver of any other provision,  condition or requirement  hereof,  nor shall any
delay or omission of either party to exercise any right  hereunder in any manner
impair the exercise of any such right.

       5.6    HEADINGS.  The headings  herein are for  convenience  only, do not
constitute a part of this  Agreement  and shall not be deemed to limit or affect
any of the provisions hereof. The language used in this Agreement will be deemed
to be the language chosen by the parties to express their mutual intent,  and no
rules of strict construction will be applied against any party.

       5.7    SUCCESSORS AND ASSIGNS.  This Agreement  shall be binding upon and
inure to the benefit of the parties and their successors and permitted  assigns.
The Company may not assign

                                       10
<PAGE>

this Agreement or any rights or obligations  hereunder without the prior written
consent of Holder, which consent shall not be unreasonably withheld.  Holder may
assign  any or all of its  rights  under  this  Agreement  to any Person to whom
Holder assigns or transfers any Securities,  provided such transferee  agrees in
writing  to be  bound,  with  respect  to  the  transferred  Securities,  by the
provisions hereof that apply to the Holder.

       5.8    NO THIRD-PARTY  BENEFICIARIES.  This Agreement is intended for the
benefit of the parties  hereto and their  respective  successors  and  permitted
assigns and is not for the benefit of, nor may any provision  hereof be enforced
by, any other Person.

       5.9    GOVERNING  LAW.  All  questions   concerning   the   construction,
validity,  enforcement and interpretation of the Transaction  Documents shall be
governed by and construed  and enforced in accordance  with the internal laws of
the State of New York,  without  regard to the  principles  of  conflicts of law
thereof.   Each  party  agrees  that  all  legal   proceedings   concerning  the
interpretations,  enforcement  and defense of the  transactions  contemplated by
this Agreement and any other  Transaction  Documents  (whether brought against a
party hereto or its respective affiliates,  directors,  officers,  shareholders,
employees  or agents)  shall be commenced  exclusively  in the state and federal
courts sitting in the City of New York. Each party hereby irrevocably submits to
the exclusive  jurisdiction  of the state and federal courts sitting in the City
of New York,  borough of Manhattan for the adjudication of any dispute hereunder
or in  connection  herewith  or with  any  transaction  contemplated  hereby  or
discussed  herein  (including  with  respect  to the  enforcement  of any of the
Transaction Documents),  and hereby irrevocably waives, and agrees not to assert
in any suit, action or proceeding,  any claim that it is not personally  subject
to the jurisdiction of any such court,  that such suit,  action or proceeding is
improper  or  inconvenient   venue  for  such  proceeding.   Each  party  hereby
irrevocably  waives  personal  service of process and consents to process  being
served in any such suit,  action or  proceeding  by mailing a copy  thereof  via
registered or certified  mail or overnight  delivery (with evidence of delivery)
to such party at the  address in effect for  notices to it under this  Agreement
and agrees that such service shall  constitute  good and  sufficient  service of
process and notice thereof. Nothing contained herein shall be deemed to limit in
any way any right to serve  process in any manner  permitted by law. The parties
hereby waive all rights to a trial by jury.  If either  party shall  commence an
action or proceeding to enforce any  provisions  of the  Transaction  Documents,
then the  prevailing  party in such action or proceeding  shall be reimbursed by
the other party for its  attorneys'  fees and other costs and expenses  incurred
with  the   investigation,   preparation  and  prosecution  of  such  action  or
proceeding.

       5.10   SURVIVAL.  The  representations  and warranties  contained  herein
shall survive the Closing and the delivery,  exercise  and/or  conversion of the
Securities, as applicable for the applicable statue of limitations.

       5.11   EXECUTION.   This  Agreement  may  be  executed  in  two  or  more
counterparts,  all of which when taken  together shall be considered one and the
same agreement and shall become effective when  counterparts have been signed by
each party and  delivered  to the other  party,  it being  understood  that both
parties need not sign the same  counterpart.  In the event that any signature is
delivered by facsimile  transmission,  such  signature  shall create a valid and
binding

                                       11
<PAGE>

obligation  of the  party  executing  (or on  whose  behalf  such  signature  is
executed)  with the same force and effect as if such  facsimile  signature  page
were an original thereof.

       5.12   SEVERABILITY.  If any  provision  of this  Agreement is held to be
invalid or unenforceable in any respect,  the validity and enforceability of the
remaining  terms  and  provisions  of  this  Agreement  shall  not in any way be
affected or impaired  thereby and the parties will attempt to agree upon a valid
and enforceable provision that is a reasonable substitute therefor,  and upon so
agreeing, shall incorporate such substitute provision in this Agreement.

       5.13   RESCISSION AND WITHDRAWAL RIGHT.  Notwithstanding  anything to the
contrary  contained in (and  without  limiting  any similar  provisions  of) the
Transaction Documents,  whenever Holder exercises a right,  election,  demand or
option under a Transaction  Document and the Company does not timely perform its
related obligations within the periods therein provided, then Holder may rescind
or withdraw, in its sole discretion from time to time upon written notice to the
Company,  any  relevant  notice,  demand or election in whole or in part without
prejudice to its future actions and rights; PROVIDED,  HOWEVER, in the case of a
rescission  of a  conversion  of the  Preferred  Stock or exercise of a Warrant,
Holder  shall be  required to return any shares of Common  Stock  subject to any
such rescinded conversion or exercise notice.

       5.14   REPLACEMENT  OF  SECURITIES.  If  any  certificate  or  instrument
evidencing any Securities is mutilated,  lost, stolen or destroyed,  the Company
shall  issue or cause to be issued in  exchange  and  substitution  for and upon
cancellation thereof, or in lieu of and substitution therefor, a new certificate
or instrument,  but only upon receipt of evidence reasonably satisfactory to the
Company  of such  loss,  theft  or  destruction  and  customary  and  reasonable
indemnity,  if requested.  The  applicants  for a new  certificate or instrument
under  such  circumstances  shall  also  pay any  reasonable  third-party  costs
associated with the issuance of such replacement Securities.

       5.15   REMEDIES.  In  addition to being  entitled to exercise  all rights
provided herein or granted by law, including recovery of damages, each of Holder
and the Company will be entitled to specific  performance  under the Transaction
Documents.  The  parties  agree  that  monetary  damages  may  not  be  adequate
compensation  for any loss  incurred  by  reason of any  breach  of  obligations
described in the foregoing sentence and hereby agrees to waive in any action for
specific  performance  of any such  obligation  the defense that a remedy at law
would be adequate.

       5.16   PAYMENT SET ASIDE.  To the extent that the Company makes a payment
or payments to Holder pursuant to any Transaction Document or Holder enforces or
exercises its rights thereunder, and such payment or payments or the proceeds of
such enforcement or exercise or any part thereof are  subsequently  invalidated,
declared to be fraudulent or preferential,  set aside, recovered from, disgorged
by or are required to be refunded,  repaid or otherwise restored to the Company,
a  trustee,  receiver  or any other  person  under any law  (including,  without
limitation,  any bankruptcy  law, state or federal law,  common law or equitable
cause of action),  then to the extent of any such  restoration the obligation or
part thereof originally  intended to be satisfied shall be revived and continued
in  full  force  and  effect  as if  such  payment  had  not  been  made or such
enforcement or setoff had not occurred.

                                       12
<PAGE>

       5.17   USURY.  To the extent it may  lawfully do so, the  Company  hereby
agrees not to insist upon or plead or in any manner  whatsoever  claim, and will
resist any and all efforts to be compelled to take the benefit or advantage  of,
usury  laws  wherever  enacted,  now or at  any  time  hereafter  in  force,  in
connection with any claim, action or proceeding that may be brought by Holder in
order  to  enforce  any  right  or  remedy  under  any   Transaction   Document.
Notwithstanding  any  provision  to the contrary  contained  in any  Transaction
Document,  it is expressly  agreed and provided that the total  liability of the
Company under the  Transaction  Documents for payments in the nature of interest
shall not exceed the maximum lawful rate  authorized  under  applicable law (the
"MAXIMUM RATE"), and, without limiting the foregoing, in no event shall any rate
of interest or default interest, or both of them, when aggregated with any other
sums in the nature of interest  that the Company may be  obligated  to pay under
the  Transaction  Documents  exceed such Maximum  Rate. It is agreed that if the
maximum  contract  rate  of  interest  allowed  by  law  and  applicable  to the
Transaction  Documents  is  increased  or  decreased  by statute or any official
governmental action subsequent to the date hereof, the new maximum contract rate
of  interest  allowed  by  law  will  be  the  Maximum  Rate  applicable  to the
Transaction  Documents from the effective date forward,  unless such application
is precluded by applicable law. If under any circumstances whatsoever,  interest
in excess of the Maximum  Rate is paid by the Company to Holder with  respect to
indebtedness  evidenced  by the  Transaction  Documents,  such  excess  shall be
applied by Holder to the unpaid principal balance of any such indebtedness or be
refunded to the  Company,  the manner of handling  such excess to be at Holder's
election.

       5.19   LIQUIDATED DAMAGES.  The Company's  obligations to pay any partial
liquidated  damages or other amounts owing under the Transaction  Documents is a
continuing  obligation of the Company and shall not  terminate  until all unpaid
partial liquidated damages and other amounts have been paid  notwithstanding the
fact that the instrument or security  pursuant to which such partial  liquidated
damages or other amounts are due and payable shall have been canceled.

       5.20   CONSTRUCTION.  The parties  agree that each of them  and/or  their
respective counsel has reviewed and had an opportunity to revise the Transaction
Documents and, therefore, the normal rule of construction to the effect that any
ambiguities are to be resolved  against the drafting party shall not be employed
in the interpretation of the Transaction Documents or any amendments hereto.

                            [SIGNATURE PAGE FOLLOWS]

                                       13
<PAGE>

       IN WITNESS WHEREOF, the parties hereto have caused this Stockholder
Representation Statement and Transfer Restriction Agreement to be duly executed
           by their respective authorized signatories as of the date
                             first indicated above.

SECURED SERVICES, INC.                       ADDRESS FOR NOTICE:
                                             -------------------

By: _/s/ King Moore__________________        110 Williams Street, 14th Floor
    Name: King Moore                         New York, New York 10038
    Title: President and CEO

With a copy to (which shall not constitute notice):

                   [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
                       SIGNATURE PAGE FOR HOLDER FOLLOWS]

                                       14
<PAGE>

      [HOLDER SIGNATURE PAGES TO STOCKHOLDER REPRESENTATION STATEMENT AND
                        TRANSFER RESTRICTION AGREEMENT]

       IN  WITNESS  WHEREOF,   the  undersigned  have  caused  this  Stockholder
Representation  Statement and Transfer Restriction Agreement to be duly executed
by their respective authorized signatories as of the date first indicated above.

Name of Holder: Nextpoint Partners II, LP
                -------------------------

SIGNATURE OF AUTHORIZED SIGNATORY OF HOLDER:

                                       By: NextPoint GP LLC, its General Partner
                                       By: /s/ Michael Faber
                                           -----------------
                                                A member

Name of Authorized Signatory: ___________________________
Title of Authorized Signatory: __________________________
Email Address of Holder:_________________________________

Address for Notice of Holder:               701 Pennsylvania Avenue NW
                                            Suite 900
                                            Washington, DC 20004

Address for Delivery of Securities for Holder (if not same as above):

Shares of Preferred Stock:
Warrant Shares:
EIN Number:  [PROVIDE THIS UNDER SEPARATE COVER]

                           [SIGNATURE PAGES CONTINUE]

                                       15<PAGE>

                                                                   EXHIBIT 10.20

                           CHANGE IN CONTROL AGREEMENT

            THIS CHANGE IN CONTROL AGREEMENT (the "Agreement"), is made on this
_____ day of ____________, 2005, by and between Valera Pharmaceuticals, Inc.
(the "Company") and __________________ (the "Employee").

            WHEREAS, the Employee serves as a senior executive of the Company;
and

            WHEREAS, the Company and the Employee desire to establish certain
protections for the Employee in the event of his/her termination of employment.

            NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants and promises contained herein, and intending to be bound hereby, the
parties agree as follows:

      1. Definitions. As used herein:

            1.1. "Base Salary" means, as of any given date, the annual base rate
of salary payable to the Employee by the Company, as then in effect; provided,
however, that in the case of a resignation by the Employee for the Good Reason
described in Section 1.10.4, "Base Salary" will mean the annual base rate of
salary payable to the Employee by the Company, as in effect immediately prior to
the reduction giving rise to the Good Reason.

            1.2. "Board" means the Board of Directors of the Company.

            1.3. "Bonus Amount" means:

                  1.3.1. until the first anniversary of the date hereof, the
Employee's target annual bonus amount, as most recently specified by the
Compensation Committee of the Board; or

                  1.3.2. after the first anniversary of the date hereof, the
highest annual bonus received by the Employee during the three most recently
completed fiscal years of the Company (or, if the Employee was not employed by
the Company for three full fiscal years, then for such lesser number of full
fiscal years as the Employee was actually employed by the Company; provided,
however, that if the Employee was not employed by the Company for even one full
fiscal year, "Bonus Amount" means the Employee's target annual bonus amount, as
most recently specified by the Compensation Committee of the Board).

            1.4. "Cause" means mean, as determined by the Board:

                  1.4.1. any material breach by the Employee of any of his/her
obligations or representations under this Agreement;

                  1.4.2. gross negligence in the performance by the Employee of
the duties required by his/her Position, as communicated by the Chairman;

                  1.4.3. a material violation, by the Employee, of the Company's
employee policies, as may be amended from time to time;

<PAGE>

                  1.4.4. any conduct of the Employee involving any type of
disloyalty, dishonesty, breach of fiduciary duty, or willful misconduct,
including without limitation fraud, embezzlement, theft or dishonesty in the
course of his/her employment or engagement or the commission by the Employee of
any other action with the intent to materially injure the Company;

                  1.4.5. the Employee's conviction of, plea of guilty to, or
plea of nolo contendere to any felony, or any crime involving moral turpitude;

                  1.4.6. the Employee's failure to satisfactorily pass any drug
screening test required by the Company and, if appropriate, any supplemental
security checks;

                  1.4.7. the Employee's refusal, after explicit written notice,
to obey any lawful resolution of or direction by the Board which is consistent
with his/her duties to the Company;

                  1.4.8. the Employee's chronic absence from work (excluding
vacation, illness or leaves of absence approved by the Board); or

                  1.4.9. the Employee's unlawful use (including being under the
influence) or possession of illegal drugs on the Company's premises.

If termination for Cause is based upon Sections 1.4.1, 1.4.2, 1.4.3, 1.4.6,
1.4.7 or 1.4.8 and Board determines that the applicable breach, conduct or
violation is capable of being cured, then such applicable breach, conduct or
violation shall constitute a reason for a termination with Cause only if the
Board determines that the Employee has failed to cure such breach, conduct or
violation within thirty (30) days following written notice to Employee from the
Board.

            1.5. "Change in Control" means the first to occur of any of the
following after the date hereof:

                  1.5.1. the direct or indirect acquisition by any person or
related group of persons (other than the Company or a person that directly or
indirectly controls, is controlled by, or is under common control with, the
Company) of beneficial ownership (within the meaning of Rule 13d-3 of the
Securities Exchange Act of 1934, as amended) of securities possessing more than
50% of the total combined voting power of the Company's then outstanding
securities;

                  1.5.2. a change in the composition of the Board over any
twelve month period such that a majority of the Board members ceases to be
comprised of individuals who either (a) have been board members continuously
since the beginning of such period, or (b) have been elected or nominated for
election as Board members during such period by at least a two-thirds majority
of the Board members described in clause (a) who were still in office at the
time such election or nomination was approved by the Board;

                  1.5.3. the consummation of any consolidation, share exchange
or merger of the Company in which (a) the stockholders of the Company
immediately prior to such transaction do not own at least a majority of the
voting power of the entity which survives/results from that transaction, or (b)
a shareholder of the Company who does not own a majority of the

                                       -2-

<PAGE>

voting stock of the Company immediately prior to such transaction, owns a
majority of the Company's voting stock immediately after such transaction; or

                  1.5.4. the liquidation or dissolution of the Company, or any
sale, lease, exchange or other transfer (in one transaction or a series of
related transactions) of all or substantially all the assets of the Company,
including stock held in subsidiary corporations or interests held in subsidiary
ventures.

            1.6. "COBRA" means the Consolidated Omnibus Budget Reconciliation
Act of 1986, as amended.

            1.7. "Code" means Internal Revenue Code of 1986, as amended.

            1.8. "Disability" means the Employee's inability, by reason of any
physical or mental impairment, to substantially perform his/her regular duties
as contemplated by this Agreement, as determined by the Board in its sole
discretion (after affording the Employee the opportunity to present his/her
case), which inability is reasonably expected to continue for at least one year
from its commencement and at least 90 days from the date of such determination.

            1.9. "First Anniversary Date" is the three hundred and sixty fifth
(365th) day following the date of the consummation of a Change in Control of the
Company.

            1.10. "Good Reason" means, without the Employee's prior written
consent, any of the following:

                  1.10.1. an adverse change in the Employee's title;

                  1.10.2. a reduction in the Employee's authority, duties or
responsibilities, or the assignment to the Employee of duties that are
inconsistent, in a material respect, with Employee's position;

                  1.10.3. the relocation of the Employee's principal worksite
more than 50 miles;

                  1.10.4. a reduction in the Employee's Base Salary, unless the
percentage by which the Base Salary is reduced applies generally to all other
executive officers of the Company;

                  1.10.5. the Company's failure to pay any compensation due to
Employee.

However, the foregoing events or conditions will constitute Good Reason only if
the Employee provides the Company with written objection to the event or
condition within fifteen (15) days following the occurrence thereof, the Company
does not reverse or otherwise cure the event or condition within thirty (30)
days of receiving that written objection and the Employee resigns his/her
employment within fifteen (15) days following the expiration of that cure
period.

            1.11. "Intellectual Property" means (a) all inventions (whether
patentable or unpatentable and whether or not reduced to practice), all
improvements thereto, and all patents

                                       -3-

<PAGE>

and patent applications claiming such inventions, (b) all trademarks, service
marks, trade dress, logos, trade names, fictitious names, brand names, brand
marks and corporate names, together with all translations, adaptations,
derivations, and combinations thereof and including all goodwill associated
therewith, and all applications, registrations, and renewals in connection
therewith, (c) all copyrightable works, all copyrights, and all applications,
registrations, and renewals in connection therewith, (d) all mask works and all
applications, registrations, and renewals in connection therewith, (e) all trade
secrets (including research and development, know-how, formulas, compositions,
manufacturing and production processes and techniques, methodologies, technical
data, designs, drawings and specifications), (f) all computer software
(including data, source and object codes and related documentation), (g) all
other proprietary rights, (h) all copies and tangible embodiments thereof (in
whatever form or medium), or similar intangible personal property which have
been or are developed or created in whole or in part by the Employee (i) at any
time and at any place while the Employee is employed by Company and which, in
the case of any or all of the foregoing, are related to and used in connection
with the business of the Company, or (ii) as a result of tasks assigned to the
Employee by the Company.

            1.12. "Proprietary Information" means any and all information of the
Company or of any subsidiary or affiliate of the Company. Such Proprietary
Information shall include, but shall not be limited to, the following items and
information relating to the following items: (a) all intellectual property and
proprietary rights of the Company (including without limitation Intellectual
Property) (b) computer codes or instructions (including source and object code
listings, program logic algorithms, subroutines, modules or other subparts of
computer programs and related documentation, including program notation),
computer processing systems and techniques, all computer inputs and outputs
(regardless of the media on which stored or located), hardware and software
configurations, designs, architecture and interfaces, (c) business research,
studies, procedures and costs, (d) financial data, (e) distribution methods, (f)
marketing data, methods, plans and efforts, (g) the identities of actual and
prospective customers, contractors and suppliers, (h) the terms of contracts and
agreements with customers, contractors and suppliers, (i) the needs and
requirements of, and the Company's course of dealing with, actual or prospective
customers, contractors and suppliers, (j) personnel information, (k) customer
and vendor credit information, and (l) any information received from third
parties subject to obligations of non-disclosure or non-use. Failure by the
Company to mark any of the Proprietary Information as confidential or
proprietary shall not affect its status as Proprietary Information under the
terms of this Agreement.

            1.13. "Severance Payment" means an amount equal to the sum of the
Base Salary and the Bonus Amount.

            1.14. "Release" means a release substantially in the form attached
hereto as Exhibit A.

            1.15. "Restrictive Covenants" means the covenants set forth in
Sections 6.1 and 6.2 of this Agreement.

            1.16. "Total After-Tax Payments" means the total of all "parachute
payments" (as that term is defined in Section 280G(b)(2) of the Code) made to or
for the benefit of

                                       -4-

<PAGE>

Employee (whether made hereunder or otherwise), after reduction for all
applicable federal taxes (including, without limitation, the tax described in
Section 4999 of the Code).

      2. Termination in General. The Company may terminate the Employee's
employment at any time. The Employee may terminate his/her employment at any
time; provided that before the Employee may voluntarily terminate his/her
employment with the Company, he/she must provide thirty (30) days prior written
notice (or such shorter notice as is acceptable to the Company) to the Company.
Upon any termination of the Employee's employment with the Company for any
reason: (a) the Employee (unless otherwise requested by the Board) concurrently
will resign any officer or director positions he/she holds with the Company, its
subsidiaries or affiliates; (b) the Company will pay to the Employee all accrued
but unpaid Base Salary through the date of termination; and (c) except as
explicitly provided in Section 3.2 or otherwise pursuant to COBRA, all Base
Salary, other compensation and benefits will cease and the Company will have no
further liability or obligation to the Employee. The foregoing will not be
construed to limit the Employee's right to payment or reimbursement for claims
incurred under any insurance contract funding an employee benefit plan, policy
or arrangement of the Company in accordance with the terms of such insurance
contract.

      3. Certain Benefits Following a Change in Control.

            3.1. Severance Benefits. If the Employee's employment with the
Company ceases during the period commencing on the thirtieth (30th) day
immediately preceding the date of the consummation of a Change in Control and
ending on the First Anniversary Date due to a termination by the Company without
Cause or a resignation by the Employee for Good Reason, then in addition to the
payments and benefits provided for in Section 2, and subject to reduction or
elimination pursuant to Section 4 and the requirements of Section 5, Employee
will be entitled to:

                  3.1.1. payment of any bonus earned with respect to a year
ended prior to the date of such cessation of employment;

                  3.1.2. payment of the Severance Payment; and

                  3.1.3. waiver of the applicable premium otherwise payable for
COBRA continuation coverage for the Employee (and, to the extent covered
immediately prior to the date of the cessation of employment, his/her spouse and
dependents) for a period of 12 months.

For avoidance of doubt, cessation of employment due to the Employee's death or
Disability will not constitute a termination without Cause. The payments and
benefits described in this Section 3.1 are in lieu of, and not in addition to,
any other severance arrangement maintained by the Company.

      4. Parachute Payments.

            4.1. Generally. If the Total After-Tax Payments paid to or for the
benefit of the Employee would be increased by the limitation or elimination of
any amount payable to the Employee (whether under this Agreement or otherwise),
then the Company will reduce or, or if

                                       -5-

<PAGE>

necessary, eliminate any or all such payments to the extent necessary to
maximize the Total After-Tax Payments.

            4.2. Measurements and Adjustments. The determination of the amount
of the payments and benefits paid and payable to the Employee and whether and to
what extent reduction or the elimination of any amounts payable are required to
be made under this Section 4 will be made at the Company's expense by an
independent auditor selected by the Company. Any determination by the auditor
shall be binding upon the Company and the Employee.

            4.3. Underpayment or Overpayment. In the event of any underpayment
or overpayment to the Employee (determined after the application of Section
4.1), the amount of such underpayment or overpayment will be, as promptly as
practicable, paid by the Company to the Employee or refunded by the Employee to
the Company, as the case may be.

      5. Timing of Payments Following Termination. Notwithstanding any provision
of this Agreement, the payments and benefits described in Section 3 are
conditioned on the Employee's execution and delivery to the Company of a Release
in a manner consistent with the Older Workers Benefit Protection Act and any
similar state law that is applicable. The payments described in Sections 3.1.1
and 3.1.2 will be paid, and the premium waiver described in Section 3.1.3 will
become effective, as soon as the Release becomes irrevocable.

      6. Restrictive Covenants. As consideration for all of the payments to be
made to the Employee pursuant to Section 3 of this Agreement, the Employee
agrees to be bound by the Restrictive Covenants set forth in this Section 6. The
Restrictive Covenants will apply without regard to whether any termination of
the Employee's employment is initiated by the Company or the Employee, and
without regard to the reason for that termination.

            6.1. Confidentiality. The Employee recognizes and acknowledges that
the Proprietary Information is a valuable, special and unique asset of the
business of the Company. As a result, both during the Employee's employment by
the Company and thereafter, the Employee will not, without the prior written
consent of the Company, for any reason either directly or indirectly divulge to
any third-party or use for his/her own benefit, or for any purpose other than
the exclusive benefit of the Company, any Proprietary Information; provided,
however, that the Employee may during his/her employment by the Company disclose
Proprietary Information to third parties as may be necessary or appropriate to
the effective and efficient discharge of his/her duties as an employee hereunder
(provided that the third party recipient has signed the Company's then-approved
confidentiality or similar agreement) or as such disclosures may be required by
law. If the Employee or any of his/her representatives becomes legally compelled
to disclose any of the Proprietary Information, the Employee will provide the
Company with prompt written notice so that the Company may seek a protective
order or other appropriate remedy. The non-disclosure and non-use obligations
with respect to Proprietary Information set forth in this Section 6.1 shall not
apply to any information that is in or becomes part of the public domain through
no improper act on the part of the Employee.

                                       -6-

<PAGE>

            6.2. Property of the Company.

                  6.2.1. Proprietary Information. All right, title and interest
in and to Proprietary Information will be and remain the sole and exclusive
property of the Company. The Employee will not remove from the Company's offices
or premises any documents, records, notebooks, files, correspondence, reports,
memoranda or similar materials of or containing Proprietary Information, or
other materials or property of any kind belonging to the Company unless
necessary or appropriate in the performance of his/her duties to the Company. If
the Employee removes such materials or property in the performance of his/her
duties, the Employee will return such materials or property to their proper
files or places of safekeeping as promptly as possible after the removal has
served its specific purpose. The Employee will not make, retain, remove and/or
distribute any copies of any such materials or property, or divulge to any third
person the nature of and/or contents of such materials or property or any other
oral or written information to which he may have access or become familiar in
the course of his/her employment, except to the extent necessary in the
performance of his/her duties. Upon termination of the Employee's employment
with the Company, he will leave with the Company or promptly return to the
Company all originals and copies of such materials or property then in his/her
possession.

            6.3. Acknowledgements. The Employee acknowledges that the
Restrictive Covenants are reasonable and necessary to protect the legitimate
interests of the Company. The Employee further acknowledges that the Restrictive
Covenants are included herein in order to induce the Company to enter into this
Agreement and that the Company would not have entered into this Agreement in the
absence of the Restrictive Covenants.

            6.4. Remedies and Enforcement Upon Breach.

                  6.4.1. Specific Enforcement. The Employee acknowledges that
any breach by him/her, willfully or otherwise, of the Restrictive Covenants will
cause continuing and irreparable injury to the Company for which monetary
damages would not be an adequate remedy. The Employee shall not, in any action
or proceeding to enforce any of the provisions of this Agreement, assert the
claim or defense that such an adequate remedy at law exists. In the event of any
such breach by the Employee, the Company shall have the right to enforce the
Restrictive Covenants by seeking injunctive or other relief in any court,
without any requirement that a bond or other security be posted, and this
Agreement shall not in any way limit remedies of law or in equity otherwise
available to the Company.

                  6.4.2. Judicial Modification. If any court determines that any
of the Restrictive Covenants, or any part thereof, is unenforceable because of
the scope of such provision, such court shall have the power to modify such
provision and, in its modified form, such provision shall then be enforceable.

                  6.4.3. Accounting. If the Employee breaches any of the
Restrictive Covenants, the Company will have the right and remedy to require the
Employee to account for and pay over to the Company all compensation, profits,
monies, accruals, increments or other benefits derived or received by the
Employee as the result of such breach. This right and remedy

                                       -7-

<PAGE>

will be in addition to, and not in lieu of, any other rights and remedies
available to the Company under law or in equity.

      7. Miscellaneous.

            7.1. No Liability of Officers and Directors for Severance Upon
Insolvency. Notwithstanding any other provision of the Agreement and intending
to be bound by this provision, the Employee hereby (a) waives any right to claim
payment of amounts owed to him/her, now or in the future, pursuant to this
Agreement from directors or officers of the Company if the Company becomes
insolvent, and (b) fully and forever releases and discharges the Company's
officers and directors from any and all claims, demands, liens, actions, suits,
causes of action or judgments arising out of any present or future claim for
such amounts.

            7.2. Successors and Assigns. The Company may assign this Agreement
to any successor to all or substantially all of its assets and business by means
of liquidation, dissolution, merger, consolidation, transfer of assets, or
otherwise. The rights of the Employee hereunder are personal to the Employee and
may not be assigned by him/her.

            7.3. Governing Law. This Agreement shall be governed by and
construed in accordance with the laws of the State of New Jersey without regard
to the principles of conflicts of laws.

            7.4. Enforcement. Any legal proceeding arising out of or relating to
this Agreement will be instituted in the United States District Court for the
District of New Jersey, or if that court does not have or will not accept
jurisdiction, in any court of general jurisdiction in the State of New Jersey,
and the Employee and the Company hereby consent to the personal and exclusive
jurisdiction of such court(s) and hereby waive any objection(s) that they may
have to personal jurisdiction, the laying of venue of any such proceeding and
any claim or defense of inconvenient forum.

            7.5. Waivers; Reparability. The waiver by either party hereto of any
right hereunder or any failure to perform or breach by the other party hereto
shall not be deemed a waiver of any other right hereunder or any other failure
or breach by the other party hereto, whether of the same or a similar nature or
otherwise. No waiver shall be deemed to have occurred unless set forth in a
writing executed by or on behalf of the waiving party. No such written waiver
shall be deemed a continuing waiver unless specifically stated therein, and each
such waiver shall operate only as to the specific term or condition waived. If
any provision of this Agreement shall be declared to be invalid or
unenforceable, in whole or in part, such invalidity or unenforceability shall
not affect the remaining provisions hereof which shall remain in full force and
effect.

            7.6. Notices. All notices and communications that are required or
permitted to be given hereunder shall be in writing and shall be deemed to have
been duly given when delivered personally or upon mailing by registered or
certified mail, postage prepaid, return receipt requested, as follows:

                                       -8-

<PAGE>

            If to the Company, to:

            Valera Pharmaceuticals, Inc.
            8 Clarke Drive
            Cranbury, New Jersey 08512
            Attn: David S. Tierney, M.D., Chief Executive Officer
            Fax:  (609) 235-3246

            With a copy to:

            Pepper Hamilton LLP
            400 Berwyn Park
            899 Cassatt Road
            Berwyn, PA 19312-1183
            Attn: Christopher Miller, Esquire
            Fax:  (610) 640-7835

            If to Employee: to the address on file with the Company,

or to such other address as may be specified in a notice given by one party to
the other party hereunder.

            7.7. Entire Agreement; Amendments. This Agreement and the attached
exhibit contain the entire agreement and understanding of the parties relating
to the provision of Change in Control benefits, and merges and supersedes all
prior and contemporaneous discussions, agreements and understandings of every
nature relating to that subject. This Agreement may not be changed or modified,
except by an Agreement in writing signed by each of the parties hereto.

            7.8. Withholding. The Company will withhold from any payments due to
Employee hereunder, all taxes, FICA or other amounts required to be withheld
pursuant to any applicable law.

            7.9. Compliance with Section 409A of the Code. Notwithstanding any
other provision of this Agreement, no payment will be made hereunder other than
on a date consistent with Section 409A of the Code or related guidance.

            7.10. Headings Descriptive. The headings of sections and paragraphs
of this Agreement are inserted for convenience only and shall not in any way
affect the meaning or construction of any provision of this Agreement.

            7.11. Counterparts. This Agreement may be executed in multiple
counterparts, each of which will be deemed to be an original, but all of which
together will constitute but one and the same instrument.

                            [signature page follows]

                                       -9-

<PAGE>

            IN WITNESS WHEREOF AND INTENDING TO BE LEGALLY BOUND, the parties
hereto have executed this Agreement on the date and year first above written.

                                      VALERA PHARMACEUTICALS, INC.

                                      ________________________________
                                      By:
                                      Title:

                                      EMPLOYEE

                                      ________________________________

                                      -10-

<PAGE>

                                    EXHIBIT A

                     RELEASE AND NON-DISPARAGEMENT AGREEMENT

            THIS RELEASE AND NON-DISPARAGEMENT AGREEMENT (this "Release") is
made as of the ___ day of _______, _____ by and between ____________________
(the "Employee") and Valera Pharmaceuticals, Inc. (the "Company").

            WHEREAS, the Employee's employment as an executive of the Company
has terminated; and

            WHEREAS, pursuant to Section 3 of the Change in Control Agreement by
and between the Company and the Employee dated as of __________ ___, 2005 (the
"Change in Control Agreement"), the Company has agreed to pay the Employee
certain amounts and to provide her with certain rights and benefits, subject to
the execution of this Release.

            NOW THEREFORE, in consideration of these premises and the mutual
promises contained herein, and intending to be legally bound hereby, the parties
agree as follows:

SECTION 1. Consideration. The Employee acknowledges that: (a) the payments,
rights and benefits set forth in Section 3 of the Change in Control Agreement
constitute full settlement of all of his/her rights under the Change in Control
Agreement, (b) he/she has no entitlement under any other severance or similar
arrangement maintained by the Company, and (c) except as otherwise provided
specifically in this Release, the Company does not and will not have any other
liability or obligation to the Employee. The Employee further acknowledges that,
in the absence of his/her execution of this Release, the payments and benefits
specified in Section 3 of the Change in Control Agreement would not otherwise be
due to the Employee.

SECTION 2. Release and Covenant Not to Sue. The Employee hereby fully and
forever releases and discharges the Company and its parents, affiliates and
subsidiaries, including all predecessors and successors, assigns, officers,
directors, trustees, employees, agents and attorneys, past and present, from any
and all claims, demands, liens, agreements, contracts, covenants, actions,
suits, causes of action, obligations, controversies, debts, costs, expenses,
damages, judgments, orders and liabilities, of whatever kind or nature, direct
or indirect, in law, equity or otherwise, whether known or unknown, arising
through the date of this Release, out of his/her employment by the Company or
the termination thereof, including, but not limited to, any claims for relief or
causes of action under the Age Discrimination in Employment Act, 29 U.S.C.
Section 621 et seq., or any other federal, state or local statute, ordinance or
regulation regarding discrimination in employment and any claims, demands or
actions based upon alleged wrongful or retaliatory discharge or breach of
contract under any state or federal law. The Employee expressly represents that
he/she has not filed a lawsuit or initiated any other administrative proceeding
against the Company (including for purposes of this Section 2, its parents,
affiliates and subsidiaries), and that he/she has not assigned any claim against
the Company (or its parents, affiliates and subsidiaries) to any other person or
entity. The Employee further promises not to initiate a lawsuit or to bring any
other claim against the Company (or its parents, affiliates and subsidiaries)
arising out of or in any way related to his/her employment by the Company or the
termination of that employment. The forgoing will not be deemed to release the
Company from (a) claims solely to enforce this Release, (b) claims solely to
enforce Section 3 of the Change in Control Agreement, (c) claims for
indemnification under the Company's By-Laws, or (d) claims solely to enforce the
terms of any equity incentive award agreement between the Employee and the
Company.

<PAGE>

This Release will not prevent the Employee from filing a charge with the Equal
Employment Opportunity Commission (or similar state agency) or participating in
any investigation conducted by the Equal Employment Opportunity Commission (or
similar state agency); provided, however, that any claims by the Employee for
personal relief in connection with such a charge or investigation (such as
reinstatement or monetary damages) would be barred.

SECTION 3. Restrictive Covenants. The Employee acknowledges that the terms of
Section 6 of the Change in Control Agreement will survive the termination of
his/her employment. The Employee affirms that the restrictions contained in
Section 6 of the Change in Control Agreement are reasonable and necessary to
protect the legitimate interests of the Company, that he/she received adequate
consideration in exchange for agreeing to those restrictions and that he/she
will abide by those restrictions.

SECTION 4. Non-Disparagement. The Company (meaning, solely for this purpose,
Company's directors and executive officers and other individuals authorized to
make official communications on Company's behalf) will not disparage the
Employee or the Employee's performance or otherwise take any action which could
reasonably be expected to adversely affect the Employee's personal or
professional reputation. Similarly, the Employee will not disparage Company or
any of its directors, officers, agents or employees or otherwise take any action
which could reasonably be expected to adversely affect the reputation of the
Company or the personal or professional reputation of any of the Company's
directors, officers, agents or employees.

SECTION 5. Cooperation. The Employee further agrees that, subject to
reimbursement of his/her reasonable expenses, he/she will cooperate fully with
the Company and its counsel with respect to any matter (including litigation,
investigations, or governmental proceedings) which relates to matters with which
the Employee was involved during his/her employment with Company. The Employee
shall render such cooperation in a timely manner on reasonable notice from the
Company.

SECTION 6. RESCISSION RIGHT. THE EMPLOYEE EXPRESSLY ACKNOWLEDGES AND RECITES
THAT (A) HE/SHE HAS READ AND UNDERSTANDS THIS RELEASE IN ITS ENTIRETY, (B)
HE/SHE HAS ENTERED INTO THIS RELEASE KNOWINGLY AND VOLUNTARILY, WITHOUT ANY
DURESS OR COERCION; (C) HE/SHE HAS BEEN ADVISED ORALLY AND IS HEREBY ADVISED IN
WRITING TO CONSULT WITH AN ATTORNEY WITH RESPECT TO THIS RELEASE BEFORE SIGNING
IT; (D) HE/SHE WAS PROVIDED 21 CALENDAR DAYS AFTER RECEIPT OF THE RELEASE TO
CONSIDER ITS TERMS BEFORE SIGNING IT (OR SUCH LONGER PERIOD AS IS REQUIRED FOR
THIS RELEASE TO BE EFFECTIVE UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT OR
ANY SIMILAR STATE LAW); AND (E) HE/SHE IS PROVIDED SEVEN (7) CALENDAR DAYS FROM
THE DATE OF SIGNING TO TERMINATE AND REVOKE THIS RELEASE, IN WHICH CASE THIS
RELEASE SHALL BE UNENFORCEABLE, NULL AND VOID. THE EMPLOYEE MAY REVOKE THIS
RELEASE DURING THOSE SEVEN (7) DAYS BY PROVIDING WRITTEN NOTICE OF REVOCATION TO
THE COMPANY AT THE ADDRESS LISTED IN SECTION 7.6 OF THE CHANGE IN CONTROL
AGREEMENT.

SECTION 7. Challenge. If the Employee violates or challenges the enforceability
of any provisions of this Release, no further payments, rights or benefits under
Section 3 of the Change in Control Agreement will be due to the Employee.

SECTION 8. Miscellaneous.

            8.1. No Admission of Liability. This Release is not to be construed
as an admission of any violation of any federal, state or local statute,
ordinance or regulation or of any duty owed by

                                       -2-

<PAGE>

the Company to the Employee. There have been no such violations, and the Company
specifically denies any such violations.

            8.2. No Reinstatement. The Employee agrees that he/she will not
apply for reinstatement with the Company or seek in any way to be reinstated,
re-employed or hired by the Company in the future.

            8.3. Successors and Assigns. This Release shall inure to the benefit
of and be binding upon the Company and the Employee and their respective
successors, executors, administrators and heirs. The Employee may not make any
assignment of this Release or any interest herein, by operation of law or
otherwise. The Company may assign this Release to any successor to all or
substantially all of its assets and business by means of liquidation,
dissolution, merger, consolidation, transfer of assets or otherwise.

            8.4. Severability. Whenever possible, each provision of this Release
will be interpreted in such manner as to be effective and valid under applicable
law. However, if any provision of this Release is held to be invalid, illegal or
unenforceable in any respect, such invalidity, illegality or unenforceability
will not affect any other provision, and this Release will be reformed,
construed and enforced as though the invalid, illegal or unenforceable provision
had never been herein contained.

            8.5. Entire Agreement; Amendments. Except as otherwise provided
herein, this Release contains the entire agreement and understanding of the
parties hereto relating to the subject matter hereof, and merges and supersedes
all prior and contemporaneous discussions, agreements and understandings of
every nature relating to the subject matter hereof. This Release may not be
changed or modified, except by an Agreement in writing signed by each of the
parties hereto.

            8.6. Governing Law. This Release shall be governed by, and enforced
in accordance with, the laws of the State of New Jersey without regard to the
application of the principles of conflicts of laws.

            8.7. Counterparts and Facsimiles. This Release may be executed,
including execution by facsimile signature, in one or more counterparts, each of
which shall be deemed an original, and all of which together shall be deemed to
be one and the same instrument.

            IN WITNESS WHEREOF, the Company has caused this Release to be
executed by its duly authorized officer, and the Employee has executed this
Release, in each case as of the date first above written.

                                      VALERA PHARMACEUTICALS, INC.

                                      _________________________________
                                      By:
                                      Title:

                                      EMPLOYEE

                                      ________________________________

                                       -3-

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