Document:

Supply Agreement

 Exhibit 10.1 
 [***] DENOTES CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT 

July 13th, 2009 

SUPPLY AGREEMENT 
 Parties 

Alchemia Oncology Pty Limited 
 ACN 058
390 953 
 Novozymes Biopharma DK A/S 

 Contents 
  

									
	 1.
	  	Definitions and interpretation	  	 	1	  
		  	1.1	    	Definitions	  	 	1	  
		  	1.2	    	Interpretation	  	 	4	  
			
	 2.
	  	Supply	  	 	4	  
		  	2.1	    	Novozymes as exclusive supplier	  	 	4	  
		  	2.2	    	Commencement of exclusivity obligation	  	 	5	  
		  	2.3	    	Supply handover process	  	 	5	  
		  	2.4	    	Novozymes capacity	  	 	5	  
		  	2.5	    	Plant completion	  	 	6	  
		  	2.6	    	Re-supply	  	 	6	  
		  	2.7	    	Standby Supply Agreement	  	 	6	  
			
	 3.
	  	Long term forecast delivery planning	  	 	6	  
	 4.
	  	Orders	  	 	6	  
	 5.
	  	Delivery	  	 	7	  
	 6.
	  	Safety stock	  	 	8	  
	 7.
	  	Delays	  	 	8	  
	 8.
	  	Use	  	 	8	  
			
	 9.
	  	Regulatory issues	  	 	9	  
		  	9.1	    	Assistance with approvals	  	 	9	  
		  	9.2	    	Regulatory responsibilities	  	 	9	  
		  	9.3	    	Payment of bridging study costs	  	 	9	  
			
	 10.
	  	Price 
	  	 	9	  
		  	10.1	    	Most favoured price	  	 	9	  
		  	10.2	    	Price of HyaCare	  	 	9	  
	 11.
	  	Payments	  	 	10	  
	 12.
	  	Intellectual property rights	  	 	10	  
			
	 13.
	  	Term and termination	  	 	10	  
		  	13.1	    	Term	  	 	10	  
		  	13.2	    	Extension of Term	  	 	10	  
		  	13.3	    	Events for termination	  	 	11	  
		  	13.4	    	Retention of rights	  	 	11	  
		  	13.5	    	Survival of provisions	  	 	11	  
			
	 14.
	  	Warranties	  	 	11	  
		  	14.1	    	General	  	 	11	  
		  	14.2	    	Specific	  	 	12	  
		  	14.3	    	Limitations	  	 	12	  

  
  

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	 15.
	  	Indemnification of third party claims	  	 	12	  
	 16.
	  	Limitation of liability	  	 	13	  
	 17.
	  	Insurance	  	 	13	  
	 18.
	  	Subcontractors	  	 	13	  
			
	 19.
	  	Confidential information	  	 	14	  
		  	19.1	    	Prohibited acts	  	 	14	  
		  	19.2	    	Permitted uses	  	 	14	  
		  	19.3	    	Excluded information	  	 	14	  
		  	19.4	    	Compulsory disclosures	  	 	14	  
		  	19.5	    	Protection of information	  	 	14	  
		  	19.6	    	Confidentiality of agreement	  	 	15	  
		  	19.7	    	Return of Confidential Information	  	 	15	  
			
	 20.
	  	Assignment	  	 	15	  
		  	20.1	    	Agreement	  	 	15	  
	 21.
	  	Force majeure	  	 	15	  
			
	 22.
	  	Dispute resolution	  	 	16	  
		  	22.1	    	Initial process	  	 	16	  
		  	22.2	    	Arbitration process	  	 	16	  
		  	22.3	    	Injunctions and scope of awards	  	 	16	  
		  	22.4	    	Confidentiality	  	 	16	  
		  	22.5	    	Stay of termination pending resolution	  	 	16	  
			
	 23.
	  	Miscellaneous matters	  	 	17	  
		  	23.1	    	Independent contractors	  	 	17	  
		  	23.2	    	Further assurance	  	 	17	  
		  	23.3	    	Entire understanding	  	 	17	  
		  	23.4	    	Variation	  	 	17	  
		  	23.5	    	Severability	  	 	17	  
		  	23.6	    	Waiver	  	 	17	  
		  	23.7	    	Costs and outlays	  	 	18	  
		  	23.8	    	Counterparts	  	 	18	  
		  	23.9	    	Notices	  	 	18	  
		  	23.10	    	Rights of Third Parties	  	 	19	  
		  	23.11	    	Governing law	  	 	19	  
			
		  	 Schedule 1
	  	 	20	  
		  	 Schedule 2
	  	 	21	  
		  	 Schedule 3
	  	 	22	  
		  	 Schedule 4
	  	 	23	  

  
  

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 Schedules: 
 Schedule 1: HyACTTM Patents 
 Schedule 2: The price of HyaCare 

Schedule 3: Specifications 

Schedule 4: Quality Agreement [to be agreed and attached upon Notice of Supply] 

  
  

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	Agreement dated
		
	Parties	  	 Alchemia Oncology Pty Ltd ACN 058 390 953
 of 3 HiTech Court, Brisbane Technology Park, Eight Mile Plains OLD 4113 (Alchemia)

		
		  	 Novozymes Biopharma DK A/S (CVR No. 29 60 35 37)
 of Krogshøjvej 36, DK-2880 Bagsværd, Denmark
 (Novozymes)

 Introduction 
  

	A.	Novozymes has proprietary technology to recombinantly produce hyaluronic acid (HA) through a bacillus host for pharmaceutical use and is investing in a new
production facility to produce cGMP-grade HA according to the Q7 ICH guidelines using the proprietary technology. 

  

	B.	Alchemia is the owner or licensee of various intellectual property and patents in relation to a HA based technology known as HyACTTM. The technology has been
applied to irinotecan to produce a chemotherapy product with enhanced efficacy known as HA-irinotecan. Alchemia and its Licensees are continuing to undertake research and development to produce other products using HyACTTM.

  

	C.	It is necessary for Alchemia, and its Licensees in due course, to secure a supply of HA to continue the research, development, manufacture and sale of products.

  

	D.	Novozymes has agreed to become a supplier (either directly or through an Affiliate) of HA to Alchemia, and Alchemia’s Licensees for the Term of this Agreement.

 It is agreed 
  

 
  

	1.	Definitions and interpretation 

  

	1.1	Definitions 

 In this
Agreement: 
  

	 	(1)	Affiliate means 

  

	 	(a)	with respect to Alchemia, any other person controlling, controlled by or under direct or indirect common control with Alchemia. 

 

	 	(b)	with respect to Novozymes, Novozymes A/S (group parent) and any other person controlled by or under direct or indirect control of Novozymes A/S.

  

	 	(c)	A person will be deemed to control a corporation (or other entity) if such person possesses, directly or indirectly, the power to direct or cause the direction of the
management and policies of such corporation (or other entity), whether through the ownership of voting securities, by contract or otherwise. 

  
  

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	 	(2)	Agreement means this document, including any schedule or annexure to it. 

 

	 	(3)	Business Day means a day that is not a Saturday, Sunday or any other day which is a public holiday or a bank holiday in the place where an act is to be performed
or a payment is to be made. 

  

	 	(4)	Confidential Information means any Information provided by one party or its Representatives to the other party or its Representatives whether provided orally or
in any Material Form, provided that where Information is provided by one party to the other, and that other party is the owner of such Information, then the Information is Confidential Information of the other party, not the party that provides it.

  

	 	(5)	Commencement Date means the date of execution of this Agreement by the last party signing it. 

 

	 	(6)	Dollars and US$ means United States dollars. 

  

	 	(7)	FDA means the Food and Drugs Administration of the United States of America. 

 

	 	(8)	Forecast means Alchemia’s forecast for its requirement for HyaCare for the HA-irinotecan Product as specified in clause 3. 

 

	 	(9)	GMP means ICH Q7 requirements as amended from time to time. 

  

	 	(10)	Government Agency means any government and any government body whether: 

 

	 	(a)	legislative, judicial or administrative; 

  

	 	(b)	a department, commission, authority, tribunal, agency or entity; 

  

	 	(c)	Commonwealth, state, territorial or local; 

 but does not include a governmental body in respect of any service or trading functions as distinguished from regulatory or fiscal functions. 

 

	 	(11)	HA means hyaluronic acid. 

  

	 	(12)	Handover Date means the date referred to in clause 2.3(4). 

  

	 	(13)	HyaCareTM means HA produced recombinantly through a bacillus host by use of Novozymes` proprietary technology. 

 

	 	(14)	HyACTTM Patents means the patents referred to in Schedule 1. 

 

	 	(15)	HA-irinotecan Product means the product with enhanced efficacy produced by combining HA with Irinotecan. 

 

	 	(16)	Information means information or know-how pertaining to, or in the possession or control of, a party including, but not limited to information concerning its
business, systems, technology and affairs, such as: 

  

	 	(a)	financial, technological, strategic or business information, concepts, plans, strategies, directions or systems; 

  
  

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	 	(b)	research, development, operational, legal, marketing or accounting information, concepts, plans, strategies, directions or systems; 

 

	 	(c)	technology, source and object codes for computer software, intellectual property rights and technical and historical information relating thereto;

  

	 	(d)	customer and supplier information; and 

  

	 	(e)	information relating to the HA-irinotecan Products and HyaCare including the manufacturing processes of same. 

 

	 	(17)	Initial Term means the term referred to in clause 13.1. 

  

	 	(18)	Insolvency Event means in respect of either party (a) passing a resolution for winding up (otherwise than for the purposes of a solvent amalgamation or
reconstruction) or a court making an order to that effect or (b) ceasing to carry on its business or substantially the whole of its business or (c) convening a meeting of or making or proposing to make any arrangement or composition with
its creditors or (d) if a liquidator, receiver, administrator, administrative receiver, manager, trustee, or similar officer is appointed over any of the assets of the relevant party. 

 

	 	(19)	Lead Times shall mean the delivery dates agreed in the delivery plan. If the parties are unable to agree on the delivery plan in accordance with clause 3 then
the Lead Times shall be six (6) months, from date of receipt of order. 

  

	 	(20)	Licensee means a person licensed by Alchemia to sell the HA-irinotecan Products or otherwise exploit the HyACTTM Patents. 

 

	 	(21)	Material Form in relation to Information includes any form (whether visible or not) of storage from which Information can be reproduced, and any form in which
Information is embodied or encoded. 

  

	 	(22)	Notice of Supply means the notice referred to in clause 2.3(1). 

  

	 	(23)	Plant means a new HA production facility capable of supplying HyaCare in accordance with GMP to Alchemia. 

 

	 	(24)	Quality Agreement means the quality agreement, including all schedules, to be agreed between the parties upon the Notice of Supply and attached to this Agreement
as Schedule 4. 

  

	 	(25)	Regulatory Authority means the FDA or the equivalent body in the relevant country. 

 

	 	(26)	Representative of a party means the employees, directors, agents, contractors or advisors of that party. 

 

	 	(27)	Required Equivalence Study means a study required to be undertaken in order to obtain regulatory approval to use Novozymes’ HyaCare in lieu of HA from
another supplier. 

  

	 	(28)	 Royalty Agreement shall mean the royalty agreement entered into on June 18th 2009 between Alchemia and Novozymes. 

 

	 	(29)	Specifications shall mean the required specifications attached as Schedule 3. 

 

	 	(30)	Term means the period during which this Agreement is in force pursuant to clause 13.1 and 13.2. 

 

	 	(31)	Third Party means a person other than Novozymes, Alchemia, an Affiliate or Licensee. 

  
  

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	1.2	Interpretation 

  

	 	(1)	Reference to: 

  

	 	(a)	one gender includes the others; 

  

	 	(b)	the singular includes the plural and the plural includes the singular; 

  

	 	(c)	a person includes a body corporate; 

  

	 	(d)	a party includes the party’s executors, administrators, successors and permitted assigns; 

 

	 	(e)	a thing includes the whole and each part of it separately; 

  

	 	(f)	a statute, regulation, code or other law or a provision of any of them includes: 

 

	 	(i)	any amendment or replacement of it; and 

  

	 	(ii)	another regulation or other statutory instrument made under it, or made under it as amended or replaced; and 

 

	 	(g)	dollars means United States dollars unless otherwise stated. 

  

	 	(2)	“Including” and similar expressions are not words of limitation. 

 

	 	(3)	Where a word or expression is given a particular meaning, other parts of speech and grammatical forms of that word or expression have a corresponding meaning.

  

	 	(4)	Headings and any table of contents or index are for convenience only and do not form part of this Agreement or affect its interpretation. 

 

	 	(5)	A provision of this Agreement must not be construed to the disadvantage of a party merely because that party was responsible for the preparation of the Agreement or the
inclusion of the provision in the Agreement. 

  

	 	(6)	If an act must be done on a specified day which is not a Business Day, it must be done instead on the next Business Day. 

 
  
  

	2.	Supply 

  

	2.1	Novozymes as exclusive supplier 

 Subject to: 
  

	 	(1)	Novozymes being able to supply HyaCare in accordance with the Specifications and the Forecast, and otherwise in accordance with this Agreement; and

  

	 	(2)	Novozymes maintaining an FDA manufacturers license for HyaCare, if required; 

 Alchemia agrees to use Novozymes as its exclusive supplier of HA for the HA-irinotecan Product and Novozymes agrees to supply exclusively to Alchemia HyaCare for use in HA-irinotecan Products. 

  
  

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	2.2	Commencement of exclusivity obligation 

 The obligation of exclusivity shall commence on the Handover Date, and will continue thereafter during the Term, subject to any Standby Supply Agreement entered into as contemplated in clause 2.7.

  

	2.3	Supply handover process 

  

	 	(1)	As soon as practicable after the Commencement Date (cf. clause 2.5 on Plant completion), Novozymes will advise Alchemia that Novozymes is able to supply Alchemia with
HyaCare manufactured at the Plant which is useable in the HA-irinotecan Product (a “Notice of Supply”). 

  

	 	(2)	Following the Notice of Supply, Novozymes and Alchemia will agree in good faith on a Quality Agreement and Novozymes will supply to Alchemia a quantity of HyaCare
sufficient for Alchemia to diligently: 

  

	 	(a)	Validate that the HyaCare is in accordance with the Specifications; and 

  

	 	(b)	Subject to clause 9.3, undertake any required studies and obtain required regulatory approvals. 

 

	 	(3)	Following validation and obtaining of required approvals for the HA-irinotecan Product containing HyaCare, Alchemia must: 

 

	 	(a)	Place orders for HyaCare for delivery in not less than 2 nor more than 4 months time, and thereafter continue to place orders in accordance with this Agreement;

  

	 	(b)	Take steps to terminate, or reduce to a standby state, other supply agreements in relation to the initial source of HA utilised by Alchemia. 

 

	 	(4)	The date on which Novozymes supplies to Alchemia HyaCare in accordance with this Agreement to fulfil the order placed under clause 2.3(3)(a) is known as the Handover
Date. 

  

	2.4	Novozymes capacity 

Novozymes agrees to use commercially reasonable endeavours to build and maintain sufficient manufacturing capacity to reliably supply
Alchemia with the following yearly quantities of HyaCare for the HA-irinotecan Product: 
  

	 	•	 	 2011:0 kilogram. 

  

	 	•	 	 2012: 0 kilogram. 

  

	 	•	 	 2013: 150 kilogram. 

  

	 	•	 	 2014: 250 kilogram. 

  

	 	•	 	 2015: 425 kilogram. 

  

	 	•	 	 2016: 600 kilogram. 

 The
above obligation of supply shall commence no later than three (3) months from receipt by Alchemia of a Notice of Supply, which notice is expected to be served by no later than 1 January 2014. The obligation of supply is subject to
Alchemia complying with the long term forecasting requirements in clause 3 commencing upon receipt of the Notice of Supply. 

  
  

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	2.5	Plant completion 

Alchemia is entitled to purchase HA from Third Parties for the period up to when the Plant is completed and Novozymes has given notice
that it is able to supply Alchemia with HyaCare manufactured at the Plant which is useable in the HA-irinotecan Product. Alchemia agrees to keep Novozymes informed of the name of any Third Party and the quantities and delivery dates of HA supplied
by them (i) for the period up to the Notice to Supply and (ii) for any Standby Supply Agreement. 
  

	2.6	Re-supply 

 Alchemia is
free to re-supply the HyaCare supplied to it under this Agreement to Licensees or Third Parties for use in the HA-irinotecan Product. 
  

	2.7	Standby Supply Agreement 

Notwithstanding the exclusivity obligation contained in clause 2.1 Alchemia may maintain a supply agreement with a Third Party solely for
the purposes of enabling the supply of HA in circumstances where for any reason after the Handover Date Novozymes is unable to supply HyaCare in accordance with this Agreement, including in particular the Specifications (a “Standby Supply
Agreement”). 
  
  

 

	3.	Long term forecast delivery planning 

 Within thirty (30) days from Alchemia’s receipt of Novozymes’ Notice of Supply and in October each year thereafter, Alchemia shall provide Novozymes with a rolling three
(3) calendar year estimate of its annual need in kilogram of HyaCare (the “Forecast”). 
 Novozymes shall within
thirty (30) days from receipt of the Forecast notify Alchemia whether or not it accepts the Forecast. Once the Forecast has been accepted it will be binding for the parties in the following manner: 

 

			
	Year 1:	  	Alchemia shall be obliged to purchase one-hundred percent (100%) of the total forecasted quantities for the relevant calendar year.
		
		  	Novozymes shall be obliged to supply one-hundred percent (100%) of the total forecasted quantities for the relevant calendar year.
		
	Year 2:	  	The Forecast for year 2 shall be non-binding on the parties.
		
	Year 3:	  	The Forecast for year 3 shall be non-binding on the parties.

 Novozymes shall use commercially reasonable endeavours to supply in excess of the Forecast if needed to
meet the requirements of Alchemia. 
 The parties shall meet in October and May each year to discuss the planning of
production weeks and deliveries for the following four calendar quarters. The parties shall use commercially reasonable endeavours to agree on a delivery plan and Novozymes shall use commercially reasonable endeavours to accommodate all reasonable
requests of Alchemia as regards delivery dates and quantities in line with the long term Forecasts. The agreed delivery plan shall be binding. 
  

 
  

	4.	Orders 

 Alchemia shall
issue written orders to Novozymes stating the product, quantity and delivery date for HyaCare. The stated delivery date shall be based on an agreed delivery plan, and in any event the agreed Forecast for the applicable year. 

  
  

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 The order of Alchemia shall be binding upon Novozymes, provided the delivery dates and the
quantities stated therein are in line with the Lead Times and the Forecast. 
 The terms and conditions of this Agreement shall
solely govern any orders placed under this Agreement. No general terms and conditions of either party referred to in purchase orders, order confirmations or elsewhere shall apply, unless expressly agreed in writing. 

 
  
  

	5.	Delivery 

 Novozymes shall
deliver Delivered Duty Unpaid (Incoterms 2000) the HyaCare purchased by Alchemia hereunder to a place nominated by Alchemia from time to time, provided that Alchemia shall reimburse Novozymes’ reasonable carriage and insurance expenses incurred
and notified to Alchemia prior to shipment. 
 Each shipment shall be clearly marked with the identity and quantity of the
product, and the (electronic) order confirmation or invoice number. 
 Risk of loss with respect to the HyaCare shall pass to
Alchemia in accordance with the agreed Incoterms (2000). Title to the HyaCare shall pass to Alchemia only upon full payment of the applicable invoice. 
 Upon receipt of each shipment, Alchemia shall promptly visually inspect such shipment to determine whether HyaCare is missing, damaged, labels missing, or otherwise does not comply with the applicable
purchase order and the Specifications. 
 In the event of any such failure, Alchemia may reject the non-conforming portion of the
shipment by written notice to Novozymes delivered within three (3) days of Alchemia’s receipt of such shipment. Such notice shall specify the manner in which the shipment fails to conform. In the absence of any such notice, Alchemia shall
be deemed to have accepted the shipment (except with respect to non-conformance to the warranty which may not be detectable by visual inspection). Any other notices of latent defects in the HyaCare shall be given promptly in writing by Alchemia to
Novozymes. 
 Upon giving Novozymes a notice of non-conformance, Alchemia shall provide Novozymes a reasonable opportunity to
inspect the HyaCare and send a sample of the non-conforming HyaCare, if possible. If there is a disagreement between the parties as to whether the HyaCare meet the applicable Specifications or the warranty, samples from the batch which is in dispute
will be submitted to an independent testing laboratory acceptable to both parties for testing. The cost of said testing by the independent laboratory shall be borne equally by both parties. The determination of such independent laboratory will be
binding on both parties and treated as Confidential Information. 
 If the HyaCare is found to be defective or not in conformance
with the warranty below or the applicable Specifications, Novozymes will promptly replace such HyaCare at no additional cost to Alchemia. This shall be Alchemia’s sole remedy for any HyaCare it rejects under this clause. 

Any returns of HyaCare from Alchemia agreed or determined not to comply with Specifications shall be agreed in advance in writing by the
parties, and Novozymes shall hold the direct incurred cost of the return if the HyaCare return is ascribable to Novozymes. All returns must be clearly marked as returns on the shipment as well as the IT-systems, if applicable. If not ascribable to
Novozymes, Alchemia shall handle the return and disposal of the returned HyaCare itself and at its own cost, and Alchemia shall under no circumstances use or resell HyaCare for return. 

  
  

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	6.	Safety stock 

 Novozymes
shall manufacture and place in its inventory an additional supply of HyaCare equal to at least five percent (5%) of the rolling Forecast requirements of HyaCare for the next twelve (12) months (“Safety Stock”). The Safety Stock
shall be adjusted every six (6) months. The required level of Safety Stock shall be achieved within thirty (30) days of each Forecast. No HyaCare in the Safety Stock shall have a remaining shelf life of less than seventy-five percent
(75%) of its full shelf life (as that shelf life is lawfully established). Novozymes shall hold the Safety Stock as a reserve for supply interruptions and shortages. Upon termination of this Agreement, Alchemia shall be obligated to purchase
the Safety Stock at the time of notice of termination at the then prevailing prices. Alchemia shall have the right to do so, but not the obligation, if the Agreement is terminated due to Novozymes’ default. 

 
  
  

	7.	Delays 

 Novozymes shall
inform Alchemia promptly of any reasonably expected delays. Such information shall be in writing (incl. e-mail) and state the cause of the expected delay and, if possible, when delivery can be expected. In such cases it is Novozymes’ duty to
use commercially reasonable endeavours to minimise the expected delay. 
 Alchemia shall grant Novozymes an appropriate extension
of delivery dates if any delay in delivery is attributable to Alchemia’s failure to deliver any necessary technical documents, materials, information to be supplied by Alchemia under this Agreement or by reason of Alchemia’s instructions
or lack of instructions or for any other reason attributable to Alchemia or any Third Parties for which Alchemia is responsible. 

If delivery of HyaCare according to a specific order position has not been completed as per the delivery date, then Novozymes shall,
unless otherwise agreed, use commercially reasonable endeavours to manufacture and deliver the delayed HyaCare as soon as practically possible. 
 If Novozymes fails to deliver the ordered quantity of the HyaCare on the delivery date as a result of a failure to meet the agreed quality release criteria and a proper release is not viable within sixty
(60) days after the delivery date, the parties shall in good faith discuss whether or not Novozymes shall and/or can arrange for a new production run of the HyaCare within a mutually acceptable time frame and if so decided, on which terms and
conditions. 
 If Novozymes for whatever reason is unable to meet its delivery obligations within a ninety (90) day period
after the delivery date, Alchemia shall upon written notification (including e-mail) have the right to cancel the order position concerned or the delayed part thereof with immediate effect. 

Notwithstanding anything to the contrary, the remedies of this clause 7 in relation to delay in delivery caused by Novozymes shall be
Alchemia’s sole remedy in the event of delay. 
  
  

 

	8.	Use 

 Alchemia shall use
the HyaCare only in compliance with regulatory approvals and, in the absence of regulatory approvals, only in connection with research and the development of the HA-irinotecan Product. 

Alchemia shall notify Novozymes about (i) any planned clinical trials of the HA-irinotecan Product being undertaken by Alchemia and
(ii) the geographical regions where the HA-irinotecan Product will be sold. 

  
  

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	9.	Regulatory issues 

  

	9.1	Assistance with approvals 

Alchemia shall be responsible for all regulatory approvals and other submissions regarding the HA-irinotecan Product. Novozymes shall use
commercially reasonable endeavours to supply information, documentation and support to Alchemia required to obtain regulatory approvals for the HA-irinotecan Product produced in respect of the complying HyaCare supplied by Novozymes. Alchemia shall
reimburse Novozymes for Novozymes’ reasonable costs incurred in providing the assistance set forth in this clause 9.1. 
  

	9.2	Regulatory responsibilities 

 Alchemia shall be responsible for the compliance of the HA-irinotecan Product, with all regulatory requirements. Novozymes shall be responsible for maintaining compliance with the GMP and all applicable
regulatory requirements in the manufacture of the HyaCare. 
  

	9.3	Payment of bridging study costs 

 Recognising that it is unlikely that Novozymes will be able to supply HyaCare produced by the Plant in time for first launch of the HA-irinotecan Product, or for the pre-cursor regulatory studies, in the
event that following HyaCare from the Plant becoming available, Novozymes becomes the supplier of HyaCare for the HA-irinotecan Product, then at the election of Novozymes: 

 

	 	(1)	Novozymes will undertake and bear all costs and responsibility for undertaking a Required Equivalence Study or other study of the HyaCare required by the US Federal
Drug Administration in respect of the use of HyaCare supplied by Novozymes in the HA-irinotecan Product; or 

  

	 	(2)	Alchemia will undertake and bear all costs and responsibility for undertaking a Required Equivalence Study or other study of the HyaCare required by the US Federal Drug
Administration in respect of the use of HyaCare supplied by Novozymes in the HA-irinotecan Product, in which case 50% of the costs of doing so may be set-off against the royalty due to Novozymes under the Royalty Agreement. 

 
  
  

	10.	Price 

  

	10.1	Most favoured price 

Novozymes agrees that the price at which it supplies HyaCare to Alchemia is to be the best price it offers to any of its customers for
HyaCare of a reasonably similar quality and volume for use as a novel excipient in the formulation of an active therapeutic ingredient for intravenous administration. 
  

	10.2	Price of HyaCare 

Alchemia shall pay to Novozymes a price for the HyaCare as set forth in Schedule 2 (the “Price). Such Price is Ex Works
(INCOTERMS 2000) and is quoted excluding applicable taxes (including without limitation value added tax, import/export duties, as well as any other similar taxes attached to the sale of the HyaCare), which taxes shall be borne by Alchemia.

 Save as provided herein, beginning with the contract year starting 1 January 2009, the Price will be revised to reflect
Price Index Changes (“PIC”) on an annual basis as described below, but capped at a cumulative maximum of 5% per annum. Novozymes may increase the Price not more than twice in any twelve (12) month period to account for actual
increases in delivery costs. 

  
  

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Page 9 

 “PIC” means the percentage increase or decrease, if any, in the Industrial
Producer Price Index for the European Union published by Eurostat for the month of October of the year prior to the relevant year over such index for the month of October of the year prior to that year. If such index is no longer published
by Eurostat or any successor agency, the purchase price will be adjusted based on the percentage increase in a comparative index. 
 The Price (subject to permitted increases) shall be valid for the Initial Term. In the last year of any Term Alchemia may solicit for competing price offers for HA. Novozymes shall have the right but not
the obligation to match any such competing price offer within thirty (30) days of receipt of such competing price offer. In case Novozymes match such competing price offer, or if the parties otherwise agrees on a new price, then such new price
shall apply for the new Term and shall be subject to the above provisions regarding revision thereof. If such revised price is not acceptable and agreement can not otherwise be reached then the Agreement will terminate at the end of the then current
Term and Novozymes will not be subject to the exclusivity obligation for the balance of the then current Term. 
  

 
  

	11.	Payments 

 Unless
otherwise agreed in writing between the parties, prices hereunder are quoted in Euro and Novozymes shall invoice Alchemia for the HyaCare, plus any applicable taxes, upon shipment from Novozymes’ facility. Terms of payment shall be thirty
(30) days from the date of invoice. All invoices not paid at maturity shall be subject to a late payment service charge of two percent (2%) per month and Novozymes shall have the option to cease all supplies until full payment, including
interest, have been received. 
 All payment shall be made to Novozymes’ bank account as stipulated on the relevant invoices
issued by Novozymes, or as otherwise agreed between the parties in writing. 
  

 
  

	12.	Intellectual property rights 

 The ownership to any intellectual property rights such as confidential know-how, patent rights, trade marks and any rights or property similar to any of the foregoing, shall remain unaffected by this
Agreement. For the avoidance of doubt, the Drug Master File for HyaCare will remain the property of Novozymes and may only be used by Alchemia for the purpose of and only to the extent necessary to obtain regulatory approvals for the HA-irinotecan
Product. 
  
  

 

	13.	Term and termination 

  

	13.1	Term 

 This
Agreement shall become effective as of the Commencement Date and shall remain in full force and effect for the later of (i) seven (7) years from the Commencement Date or (ii) five (5) years from the Handover Date (the
“Initial Term”). 
  

	13.2	Extension of Term 

 At the
end of the Initial Term and any further Term, this Agreement will automatically extend for a further period of five (5) years, unless either: 
  

	 	(1)	Two (2) years prior to the end of the Term Novozymes has given notice not to extend the Agreement; 

 

	 	(2)	one (1) year prior to the end of the Term Alchemia has given notice not to extend the Agreement. 

  
  

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	13.3	Events for termination 

 A
party may terminate this Agreement at any time by written notice to the other party (the Defaulting Party) if any of the following apply: 
  

	 	(1)	the Defaulting Party fails to carry out any provision of this Agreement, the failure is curable and the Defaulting Party does not cure that failure within thirty
(30) days (or if not curable within such time, has not initiated steps to cure the breach or default) after written notice to the Defaulting Party requiring it to be remedied; 

 

	 	(2)	the Defaulting Party fails to carry out any material provision of this Agreement and the failure is not capable of remedy; 

 

	 	(3)	the Defaulting Party is subject to an Insolvency Event; 

  

	 	(4)	a warranty given by the Defaulting Party in this Agreement is materially incorrect; and 

 

	 	(5)	it becomes unlawful for the Defaulting Party to perform its obligations under this Agreement. 

 

	13.4	Retention of rights 

 On
termination of this Agreement under clause 13.3: 
  

	 	(i)	Each party retains its rights against the other party in respect of any past breach, in addition to any other rights, powers or remedies provided by law;

  

	 	(ii)	All orders or portions thereof placed by Alchemia that have not been shipped at the date of termination shall be cancellable by Novozymes, however, Alchemia shall be
required to purchase all non-cancelled orders placed before the date of termination; and 

  

	 	(iii)	All indebtedness of Alchemia to Novozymes shall become immediately due and payable. 

 

	13.5	Survival of provisions 

Clauses 12, 13.4, 14, 15, 16, 19, 22 and 23 survive the termination and expiry of this Agreement for any reason. 

 
  
  

	14.	Warranties 

  

	14.1	General 

 Each party
warrants and covenants that: 
  

	 	(1)	it is empowered to enter into this Agreement and to do all things that will be required by this Agreement; 

 

	 	(2)	all things have been done or will be done as may be necessary to render this Agreement legally enforceable in accordance with its terms and fully valid and binding on
it; and 

  

	 	(3)	all authorisations by any Government Agency (whether in Australia or not) that are required or will be required in connection with the execution and delivery of, the
performance of obligations under or the validity or enforceability of, this Agreement have been obtained or effected and are or will be fully operative and in full force and effect; 

  
  

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Page 11 

	 	(4)	there is no litigation, arbitration or administrative proceeding taking place, pending or, to its knowledge, threatened against it as at the date of this Agreement
which could have a material adverse effect on its ability to perform its obligations under this Agreement; 

  

	 	(5)	it will as soon as practicable notify the other party of the occurrence of, or pending or threatened occurrence of, any event that: 

 

	 	(a)	may cause or constitute a material breach of any of the acknowledgments, representations, warranties or covenants contained in this Agreement; or

  

	 	(b)	could have a material adverse effect on its ability to perform its obligations under this Agreement; 

 

	 	(6)	it has before the date of this Agreement and after diligent enquiry and investigation, fully disclosed to the other party all information concerning it that could
reasonably be regarded as affecting in any way the decision of the other party to enter into this Agreement; 

  

	 	(7)	no statement or representation made by it or on its behalf to the other party in negotiations prior to this Agreement is misleading or deceptive in any material
respect; and 

  

	 	(8)	all acts to be performed and all obligations to be discharged under this Agreement will be performed or discharged with all due care and expertise.

  

	14.2	Specific 

 Novozymes
warrants that the HyaCare delivered will (i) be manufactured in accordance with GMP and other applicable rules and regulations covering Novozymes’ production; (ii) not, to the best of Novozymes’ knowledge infringe any Third Party
intellectual property rights; and (iii) at the time of delivery will conform to the applicable Specifications agreed by the parties, and if properly stored in accordance with Specifications, will continue to so conform for a period of
twenty-four (24) months from delivery. 
  

	14.3	Limitations 

 THE
FOREGOING WARRANTY IS THE EXCLUSIVE WARRANTY MADE BY NOVOZYMES EXPRESSLY IN LIEU OF ALL OTHER WARRANTIES OF ANY KIND, EXPRESS, IMPLIED OR OTHERWISE, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR
USE, NON-INFRINGEMENT OF THIRD PARTY INTELLECTUAL PROPERTY RIGHTS, AND ANY WARRANTY ARISING BY LAW, OUT OF ANY COURSE OF DEALING OR PERFORMANCE, CUSTOM OR INDUSTRY STANDARD. 

 
  
  

	15.	Indemnification of third party claims 

 Each party shall defend, indemnify and hold the other party harmless from and against any and all liabilities, losses, damages, settlements, claims, actions, lawsuits, penalties, fines, costs or expenses,
including reasonable attorney’s fees (hereinafter collectively referred to as “Claim” or “Claims”) arising out of any claim or action brought by a Third Party arising out of or resulting from the negligence, recklessness or
intentional acts or omissions of the indemnifying party with respect to this Agreement. 
 Alchemia shall defend, indemnify and
hold Novozymes harmless from and against any and all Claims arising out of any claim or action brought by a Third Party arising out of 
  

	 	•	 	 any injuries to persons or damage to property due to any use of the HA-irinotecan Products; and 

  
  

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Page 12 

	 	•	 	 any infringement of any Third Party’s rights to patents, trademarks, design protection or other intellectual property rights related to the
HA-irinotecan Products or any written instructions which Novozymes receives pursuant to this Agreement. 

Novozymes shall defend, indemnify and hold Alchemia harmless from and against any and all Claims arising out of any claim or action
brought by a Third Party arising out of 
  

	 	•	 	 any injuries to persons or damage to property due to Novozymes’ breach of any of the warranties listed in clause 14.2 (1) above.

  

	 	•	 	 any infringement of any Third Party’s rights to patents, trademarks, design protection or other intellectual property rights related to the
HyaCare or any written instructions which Alchemia receives pursuant to this Agreement. 

 In the event that
either party seeks indemnification under this clause, such party shall inform the other party of the claim as soon as reasonably practicable after it receives notice of the claim and, in any event, not later than twenty (20) days after it
receives such notice, and shall (a) permit the indemnifying party to assume direction and control of the defence of the claim (including the right to settle such claim at its discretion; provided, that no such settlement may be entered into
without the indemnified party’s consent if such settlement may adversely impact such party’s rights hereunder), and (b) cooperate as requested (at the expense of the indemnifying party) in the defence of such claim. 

 
  
  

	16.	Limitation of liability 

Save as provided herein neither party shall in any event be liable to the other party for any loss, damage, costs or expenses of any
nature whatsoever incurred or suffered by the other party of an indirect or consequential nature, including any indirect economic loss or other indirect loss of turn over, profits, business, or goodwill; provided, that (a) this limitation shall
not limit the indemnification obligation of such party under the provisions of clause 15 for such damages claimed by a Third Party (b) the above exclusion of liability set forth in this clause 16 shall not apply in the event of fraud, wilful
misconduct or gross negligence and (c ) nothing herein shall limit the liability of either party to third parties for death or personal injury arising from negligence. Furthermore, under no circumstances shall the liability of Novozymes to Alchemia
exceed the sums received by Novozymes from Alchemia pursuant to this Agreement. 
  

 
  

	17.	Insurance 

 Both parties
shall maintain, while this Agreement is in effect, including any surviving obligations, a general liability insurance coverage customary for their relevant business. Each party shall provide written proof of the existence of such insurance to the
other party upon request. 
  
  

 

	18.	Subcontractors 

 Novozymes
will not sub-contract any of its obligations under this Agreement without the consent in writing of Alchemia. Novozymes shall remain fully responsible towards Alchemia for the fulfilment of the provisions of this Agreement by such Third Parties as
well as for the activities of such Third Parties. 

  
  

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	19.	Confidential information 

  

	19.1	Prohibited acts 

 Neither
party may, without the other party’s prior written consent, copy or disclose or cause to be copied or disclosed any Confidential Information of the other party other than to the extent that such Confidential Information must be disclosed:

  

	 	(1)	to the party’s Representatives in order for this Agreement to be performed, provided that the recipients of the information undertake in writing to the party to
keep that information strictly confidential; or 

  

	 	(2)	to Regulatory Authorities. 

  

	19.2	Permitted uses 

 Each
party may only make use of Confidential Information of the other party to the extent necessary to enable the party to perform its obligations or exercise its rights under this Agreement. 

 

	19.3	Excluded information 

 For
the purposes of this clause, Confidential Information does not include any information which the receiving party can establish: 
  

	 	(1)	was in the public domain when it was disclosed to the receiving party; 

  

	 	(2)	becomes, after being disclosed to the receiving party, part of the public domain, except through disclosure contrary to this Agreement; 

 

	 	(3)	was already in the receiving party’s possession when it was disclosed to the receiving party and was not otherwise acquired from the other party directly or
indirectly; or 

  

	 	(4)	was lawfully disclosed to the receiving party by a Third Party having the unrestricted legal right to disclose that information without requiring the maintenance of
confidentiality. 

 Prior to making a disclosure of information which the receiving party alleges is no longer or
never was Confidential Information by virtue of falling within one of the above exceptions, the receiving party must give to the other party ten (10) Business Days notice of the proposed disclosure and the reasons for the exception applying.

  

	19.4	Compulsory disclosures 

The obligations of confidentiality in this clause do not apply to a receiving party where the receiving party is required by law or under
the lawful compulsion of any court, tribunal, authority or regulatory body to disclose any Confidential Information of the other party. Provided that before a party discloses any Confidential Information pursuant to the foregoing it must provide the
other party with reasonable notice to enable it to seek a protective court order or other remedy in respect of the Confidential Information, and it must provide the other party with all assistance and co-operation which the other party considers
necessary to obtain such protective court order or other remedy. 
  

	19.5	Protection of information 

Each party must notify the other party in writing immediately upon the discovery of any apparent unauthorised use or disclosure of any
Confidential Information and take all reasonable steps to enforce the confidentiality 

  
  

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Page 14 

 
obligations imposed or required to be imposed by this clause 19 including diligently prosecuting at its cost any breach or threatened breach of any such confidentiality obligations by any person
to whom it has disclosed or allowed to access to the Confidential Information or at the other party’s option making all reasonable efforts to assist the other party to help regain possession of the Confidential Information and prevent any
further unauthorised disclosure or use. 
  

	19.6	Confidentiality of agreement 

 The parties must maintain absolute confidentiality concerning the existence and subject matter of this Agreement and no public announcement or communication relating to the negotiations of the parties or
the existence, subject matter or terms of this Agreement may be made or authorised by a party without the prior written approval of the other party except that a party may make a disclosure in relation to this Agreement: 

 

	 	(1)	to its professional advisers, bankers, financial advisers, financiers, investors and potential investors upon those persons undertaking to keep confidential any
information so disclosed; 

  

	 	(2)	to actual or prospective Licensees upon those persons undertaking to keep confidential any information so disclosed; 

 

	 	(3)	to comply with any requirement of a Regulatory Authority; or 

  

	 	(4)	to comply with any applicable law or requirement of any other regulatory body or any stock exchange on which the party’s stocks are listed.

  

	19.7	Return of Confidential Information 

 Each party agrees that on termination or expiration of this Agreement it will deliver to that other party any and all materials containing or embodying that other party’s Confidential Information and
any copies thereof, except where such materials contain certain Confidential Information of Third Parties or of the party, in which case they shall be archived in secured files. Notwithstanding the foregoing, the party may retain one copy of the
Information in its confidential files for archiving purposes only. 
  

 
  

	20.	Assignment 

  

	20.1	Agreement 

 A party must
not assign or otherwise deal with this Agreement without the prior written consent of the other party, which consent must not be unreasonably withheld, provided that if Alchemia sell, assign, license or transfer the HyACTTM Patents to a Third
Party, then Alchemia shall also novate this Agreement to such Third Party. Subject to the above consent of Novozymes (not to be unreasonably withheld), Novozymes agrees to participate in such novation, in such form as reasonably required by
Alchemia. Notwithstanding the foregoing, Novozymes may assign this Agreement to other companies within the Novozymes NS group of companies without the consent of Alchemia. 

 
  
  

	21.	Force majeure 

 A party
shall not be liable for loss or damage caused by a party’s or a party’s subcontractor’s performance of his obligations being prevented by circumstances beyond the control of the party or the party’s subcontractor, such as
industrial disputes, fire, water, wind or other natural disaster, war, insurrection, civil commotion, mobilisation, currency restrictions, power outage, requisition, seizure or intervention by authorities. 

  
  

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Page 15 

 The party wishing to invoke force majeure shall notify the other party in writing without
undue delay on the intervention and cessation of such circumstance. 
 The party invoking force majeure shall make every
reasonable effort to remedy the cause of non-performance, and shall perform its obligations as soon as possible after the cessation of the circumstance hindering that party’s performance, the other party also being released from its contractual
obligations until the time of such performance. 
  
  

 

	22.	Dispute resolution 

  

	22.1	Initial process 

 The
parties will negotiate in good faith and use reasonable efforts to settle any dispute, controversy or claim arising from or related to this Agreement or the breach thereof. If the parties do not fully settle, and a party wishes to pursue the matter,
each such dispute, controversy or claim will be finally resolved by binding arbitration in accordance with the Rules of Arbitration of the International Chamber of Commerce (ICC) and judgment on the arbitration award may be entered in any
court having jurisdiction thereof. 
  

	22.2	Arbitration process 

 The
arbitration will be conducted by a panel of three persons experienced in the pharmaceutical manufacturing and distribution business. Within 30 days after initiation of arbitration, each party will select one person to act as arbitrator and the two
party-selected arbitrators will select a third arbitrator within 30 days of their appointment. If the arbitrators selected by the parties are unable or fail to agree upon the third arbitrator, the third arbitrator will be appointed by the ICC. The
place of arbitration will be London, UK and all proceedings and communications will be in English. 
  

	22.3	Injunctions and scope of awards 

 Either party may apply to the arbitrators for interim injunctive relief until the arbitration award is rendered or the controversy is otherwise resolved. Either party also may, without waiving any remedy
under this Agreement, seek from any court having jurisdiction any injunctive or provisional relief necessary to protect the rights or property of that party pending the arbitration award. Each party will bear its own costs and expenses and
attorneys’ fees and an equal share of the arbitrators’ and any administrative fees of arbitration. 
  

	22.4	Confidentiality 

 Except
to the extent necessary to confirm an award or as may be required by law, neither a party nor an arbitrator may disclose the existence, content, or results of an arbitration without the prior written consent of both parties. In no event will an
arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the dispute, controversy or claim would be barred by the applicable statute of limitations. 

 

	22.5	Stay of termination pending resolution 

 The parties agree that, in the event of a dispute over the nature or quality of performance under this Agreement, neither party may terminate the Agreement until final resolution of the dispute through
arbitration or other judicial determination. The parties further agree that any payments made pursuant to this Agreement pending resolution of the dispute will be refunded if an arbitrator or court determines that such payments are not due.

  
  

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	23.	Miscellaneous matters 

  

	23.1	Independent contractors 

The relationship between Novozymes and Alchemia is solely that of buyer and seller and nothing in this Agreement shall constitute either
party as the agent, employee, or legal Representative of the other party, or establish any fiduciary relationship of any kind, for any purpose whatsoever. Neither party shall have authority to bind or commit the other party in any manner or for any
purpose, but shall act and conduct itself in all respects as an independent contractor. This Agreement and the activities of the parties hereunder shall not constitute a joint venture, partnership, or joint enterprise of any kind, nor shall it be
construed as such, and both parties agree to make no representations that such is the case. 
  

	23.2	Further assurance 

 Each
party must promptly at its own cost do all things (including executing and if necessary delivering all documents) necessary or desirable to give full effect to this Agreement. 

 

	23.3	Entire understanding 

This Agreement: 
  

	 	(1)	is the entire agreement and understanding between the parties on everything connected with the subject matter of this Agreement; and 

 

	 	(2)	supersedes any prior agreement or understanding on anything connected with that subject matter. 

 

	23.4	Variation 

 An amendment
or variation to this Agreement is not effective unless it is in writing and signed by the parties. 
  

	23.5	Severability 

 If any
provision of this Agreement shall be or becomes fully or partly invalid or unenforceable for any reason whatsoever or should violate any applicable law, this Agreement is to be considered divisible as to such provision and such provision is to be
deemed deleted from this Agreement, and the remainder of this Agreement shall be valid and binding as if such provision was not included herein. The relevant provision shall be substituted for a suitable provision which, as far as legally possible,
comes nearest to what the parties desired or would have desired according to the sense and purpose of this Agreement, had they considered the point when concluding this Agreement. 

 

	23.6	Waiver 

  

	 	(1)	A party’s failure or delay to exercise a power or right does not operate as a waiver of that power or right. 

 

	 	(2)	The exercise of a power or right does not preclude either its exercise in the future or the exercise of any other power or right. 

 

	 	(3)	A waiver is not effective unless it is in writing. 

  

	 	(4)	Waiver of a power or right is effective only in respect of the specific instance to which it relates and for the specific purpose for which it is given.

  
  

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Page 17 

	23.7	Costs and outlays 

 Each
party must pay its own costs and outlays connected with the negotiation, preparation and execution of this Agreement, 
  

	23.8	Counterparts 

 This
Agreement may be executed in counterparts, and by the parties on separate or the same counterparts, each of which is deemed an original, but all of which constitute one and the same instrument. 

 

	23.9	Notices 

  

	 	(1)	A notice or other communication connected with this Agreement (Notice) has no legal effect unless it is in writing. 

 

	 	(2)	In addition to any other method of service provided by law, the Notice may be: 

 

	 	(a)	sent by prepaid post to the address of the addressee set out in this Agreement or subsequently notified; 

 

	 	(b)	sent by facsimile to the facsimile number of the addressee; or 

  

	 	(c)	delivered at the address of the addressee set out in this Agreement or subsequently notified. 

 

	 	(3)	If the Notice is sent or delivered in a manner provided by clause 23.9(2), it must be treated as given to and received by the party to which it is addressed:

  

	 	(a)	 if sent by post, on the
2nd Business Day (at the address to which it is posted)
after posting; 

  

	 	(b)	if sent by facsimile before 5pm on a Business Day at the place of receipt, on the day it is sent and otherwise on the next Business Day at the place of receipt; or

  

	 	(c)	if otherwise delivered before 5pm on a Business Day at the place of delivery, upon delivery, and otherwise on the next Business Day at the place of delivery.

  

	 	(4)	Despite clause (3)(b): 

  

	 	(a)	a facsimile is not treated as given or received unless at the end of the transmission the sender’s facsimile machine issues a report confirming the transmission of
the number of pages in the Notice; 

  

	 	(b)	a facsimile is not treated as given or received if it is not received in full and in legible form and the addressee notifies the sender of that fact within 3 hours
after the transmission ends or by 12 noon on the Business Day on which it would otherwise be treated as given and received, whichever is later. 

  

	 	(5)	A Notice sent or delivered in a manner provided by clause (2) must be treated as validly given to and received by the party to which it is addressed even if:

  

	 	(a)	the addressee has been liquidated or deregistered or is absent from the place at which the Notice is delivered or to which it is sent; or 

 

	 	(b)	the Notice is returned unclaimed, 

  
  

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Page 18 

	 	(6)	Any Notice by a party may be given and may be signed by its solicitor. 

  

	23.10	Rights of Third Parties 

Nothing in this Agreement is intended for the benefit of any Third Party, and the parties do not intend that any Term of this Agreement
should be enforceable by a Third Party either under the Contracts (Rights of Third Parties) Act 1999 or otherwise. 
  

	23.11	Governing law 

 The law of
England governs this Agreement. 
 Executed as an agreement. 

 

							
	Executed by Alchemia Oncology Pty	 		  		  	
	Ltd ACN 058 390 953 as an agreement:	 		  		  	
				
	 /s/ Peter M. Smith
	 		  	 /s/ David K. Green
	  	
				
	 Peter M. Smith
	 		  	 David K. Green
	  	
	Name of director/company secretary	 		  	Name of director	  	
	(BLOCK LETTERS)	 		  	(BLOCK LETTERS)	  	
			
	Executed by Novozymes Biopharma DK A/S:	  		  	
				
	 /s/ Thomas Videbaek
	 		  	  
	  	
	Director	 		  	Thomas Videbæk	  	
		 		  	Executive Vice President	  	
	  
	 		  	Novozymes A/S	  	
	Name of director	 		  		  	
	(BLOCK LETTERS)	 		  		  	

  
  

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Page 19 

 Schedule 1 
  

					
	HyACTTM Patents
		
	Family 1:	  	PCT CA90/00306 “Falk 1”
		  	Active Patents US 6,069,135
		
	Family 2:	  	PCT CA94/00207
		  	Active Patents US 5,847,002 granted
		
	Family 3:	  	PCT AU00/00004 “enhanced efficacy”
		  	Active AU 773984 granted
		  		 	 NZ 512676 and NZ 522466 granted
		  		 	 EP 00902481.1 granted
		  		 	 TW 89100433 granted
		  		 	 CN 1336828 granted
		  		 	 CA 2370003 granted
		  		 	 US 09/889203 pending
		  		 	 JP 200593339 pending
		
	Family 4:	  	PCT AU01/00849 ‘Pre-sensitizing”
		  	Active AU 760404 granted
		  		 	 NZ 517359 granted
		  		 	 CN 1388760 pending
		  		 	 CA 2382560 pending
		  		 	 JP 2004582709 pending
		  		 	 UK 2368525 granted
		  		 	 US 11/191407 and US 11/198663 and US 11/415612 pending
		
	Family 5:	  	PCT AU02/01160 “Improved Therapeutics”
		  	Active AU 2002325635 granted
		  		 	 NZ 531451 granted
		  		 	 CN 1578677
		  		 	 CA 2458856
		  		 	 JP 2003522577 pending
		  		 	 MX 2004/001828 pending
		  		 	 US 10/479934 pending

  
  

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Page 20 

 Schedule 2 
 Price of HyaCare: 
  

			
	 Annual volume requirement (kg.)
	  	Price ([***]/kg.)
	 0-150
	  	[***]
	 151-300
	  	[***]
	 301-500
	  	[***]
	 Above 500
	  	[***]

 (Price example for 350 kg: (150 × [***]) + (150 × [***]) + (50*[***])) 

  
  

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Page 21 
  

	[***]	DENOTES CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT

 Schedule 3 
 Specifications 
 [***] 

  
  

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Page 22 
  

	[***]	DENOTES CONFIDENTIAL MATERIALS OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT

 Schedule 4 
 [QUALITY AGREEMENT TO BE AGREED AND ATTACHED UPON NOTICE OF SUPPLY] 

  
  

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Page 23Royalty Agreement

 Exhibit 10.2 

July 13th, 2009 

ROYALTY AGREEMENT 
 Parties 

Alchemia Oncology Pty Limited 
 ACN 058
390 953 
 Novozymes Biopharma DK A/S 

 Contents 
  

									
	1.	 	Definitions and interpretation	  	 	2	  
		 	1.1	 	Definitions	  	 	2	  
		 	1.2	 	Interpretation	  	 	5	  
			
	2.	 	Royalty	  	 	5	  
		 	2.1	 	Obligation to pay royalty	  	 	5	  
		 	2.2	 	Royalty rates	  	 	5	  
		 	2.3	 	When royalty is due	  	 	7	  
		 	2.4	 	Reduction in royalty for an Other Product	  	 	7	  
		 	2.5	 	Currency conversion	  	 	7	  
		 	2.6	 	Payments and reports	  	 	7	  
		 	2.7	 	Record keeping	  	 	8	  
		 	2.8	 	Withholding tax	  	 	8	  
		 	2.9	 	Licensee directly liable	  	 	8	  
		 	2.10	 	Sales of Products	  	 	8	  
			
	3.	 	Audit	  	 	9	  
		 	3.1	 	Right to audit	  	 	9	  
		 	3.2	 	Inspection of records	  	 	9	  
		 	3.3	 	Costs of inspection and audit	  	 	9	  
		 	3.4	 	Confidentiality	  	 	9	  
			
	4.	 	Supply	  	 	9	  
		 	4.1	 	Novozymes as preferred supplier	  	 	9	  
			
	5.	 	Term and termination	  	 	10	  
		 	5.1	 	Term	  	 	10	  
		 	5.2	 	Events for termination	  	 	10	  
		 	5.3	 	Retention of rights	  	 	10	  
		 	5.4	 	Survival of provisions	  	 	10	  
			
	6.	 	Existing Agreements	  	 	11	  
		 	6.1	 	Mutual releases	  	 	11	  
		 	6.2	 	Acknowledgements	  	 	11	  
			
	7.	 	Warranties	  	 	11	  
		 	7.1	 	General	  	 	11	  
		 	7.2	 	Relating to patents	  	 	12	  
			
	8.	 	Confidential Information	  	 	12	  
		 	8.1	 	Prohibited acts	  	 	12	  
		 	8.2	 	Permitted uses	  	 	12	  
		 	8.3	 	Excluded information	  	 	12	  
		 	8.4	 	Compulsory disclosures	  	 	13	  

  
  

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Page 1 

									
		 	8.5	  	Protection of information	  	 	13	  
		 	8.6	  	Confidentiality of agreement	  	 	13	  
		 	8.7	  	Return of Confidential Information	  	 	13	  
			
	9.	 	Assignment	  	 	14	  
		 	9.1	  	Agreement	  	 	14	  
		 	9.2	  	Patents	  	 	14	  
			
	10.	 	Dispute resolution	  	 	14	  
		 	10.1	  	Initial Process	  	 	14	  
		 	10.2	  	Arbitration Process	  	 	14	  
		 	10.3	  	Injunctions and scope of awards	  	 	14	  
		 	10.4	  	Confidentiality	  	 	15	  
		 	10.5	  	Stay of termination pending resolution	  	 	15	  
			
	11.	 	Miscellaneous Matters	  	 	15	  
		 	11.1	  	Further assurance	  	 	15	  
		 	11.2	  	Entire understanding	  	 	15	  
		 	11.3	  	Variation	  	 	15	  
		 	11.4	  	Waiver	  	 	15	  
		 	11.5	  	Costs and outlays	  	 	16	  
		 	11.6	  	Counterparts	  	 	16	  
		 	11.7	  	Notices	  	 	16	  
		 	11.8	  	Governing law and jurisdiction	  	 	17	  

  
  

Royalty Agreement 

Page 2 

 Agreement dated 
  

			
	Parties	 	 Alchemia Oncology Pty Ltd ACN 058 390 953
 of 3 HiTech Court, Brisbane Technology Park, Eight Mile Plains QLD 4113

(Alchemia)

		
		 	 Novozymes Biopharma DK A/S (CVR No. 29 60 35 37)
 of Krogshøjvej 36, DK-2880 Bagsværd, Denmark
 (Novozymes)

 Introduction 
  

	A.	Novozymes has proprietary technology to recombinantly produce hyaluronic acid (HA) through a bacillus host for pharmaceutical use and is investing in a new
production facility to produce cGMP-grade HA according to the Q7 ICH guidelines using the proprietary technology. 

  

	B.	Alchemia is the owner or licensee of various intellectual property and patents in relation to a HA based technology known as HyACTTM. The technology has been
applied to irinotecan to produce a chemotherapy product with enhanced efficacy known as HA-irinotecan. Alchemia and its licensees are continuing to undertake research and development to produce other products using HyACTTM.

  

	C.	Novozymes has supported the Research and Development activities of the first drug candidate covered by the HyACTTM technology (HA-irinotecan Product) and
financed Alchemia’s clinical trails of the said drug candidate with a cash contribution of US$ 1 mio. 

  

	D.	The parties have agreed to adjust the royalty period from the original term of the patents in order to reflect and balance Alchemia’s capital needs, and in
consideration of the initial contributions made by Novozymes as mentioned above. The Royalty Period has been mutually and specifically agreed by the parties in light of the expected time to market of Alchemia’s products.

  

	E.	It is necessary for Alchemia, and its licensees in due course, to secure a supply of HA to continue the research, development, manufacture and sale of products.

  

	F.	Novozymes has agreed to become a supplier of HA to Alchemia, and Alchemia’s licensees for the Term of this Agreement. 

 

	G.	Alchemia has agreed that in addition to paying a price to be agreed for the supply of HA, Alchemia will make, or procure the making of certain other payments to
Novozymes under this Agreement. 

  

	H.	Alchemia and Novozymes have previously entered into a Research, Development and Clinical Trial Agreement and a Technology License Agreement which they agree to release
each other from under this Agreement. 

 It is agreed 

  
  

Royalty Agreement 

Page 1 

	1.	Definitions and interpretation 

  

	1.1	Definitions 

 In this Agreement:

  

	 	(1)	Affiliate means 

  

	 	(a)	with respect to Alchemia, any other person controlling, controlled by or under direct or indirect common control with Alchemia. 

 

	 	(b)	with respect to Novozymes, Novozymes A/S (group parent) and any other person controlled by or under direct or indirect control of Novozymes A/S.

  

	 	(c)	A person will be deemed to control a corporation (or other entity) if such person possesses, directly or indirectly, the power to direct or cause the direction of the
management and policies of such corporation (or other entity), whether through the ownership of voting securities, by contract or otherwise. 

  

	 	(2)	Agreement means this document, including any schedule or annexure to it. 

 

	 	(3)	Business Day means a day that is not a Saturday, Sunday or any other day which is a public holiday or a bank holiday in the place where an act is to be performed
or a payment is to be made. 

  

	 	(4)	Confidential Information means any Information provided by one party or its Representatives to the other party or its Representatives whether provided orally or
in any Material Form, provided that where Information is provided by one party to the other, and that other party is the owner of such Information, then the Information is Confidential Information of the other party, not the party that provides it.

  

	 	(5)	Commencement Date means the date of execution of this Agreement by the last party signing it. 

 

	 	(6)	Covered By means that the sale of the HA-irinotecan Product or Other Product when it is sold and in the country it is sold to a Third Party, would, but for any
licence granted by Alchemia or a Licensee, infringe a Valid Claim of a HyACTTM Patent. 

  

	 	(7)	Dollars and US$ means United States dollars. 

  

	 	(8)	Existing Agreements means the: 

  

	 	(a)	Research, Development and Clinical Trial Agreement dated 18 December 2003; 

 

	 	(b)	Technology License Agreement dated 18 December 2003; and 

  

	 	(c)	First Amendment to the Technology License Agreement and Research, Development and Clinical Trial Agreement dated 1 March 2005. 

 

	 	(9)	FDA means the Food and Drugs Administration of the United States of America. 

  
  

Royalty Agreement 

Page 2 

	 	(10)	Government Agency means any government and any government body whether: 

 

	 	(a)	legislative, judicial or administrative; 

  

	 	(b)	a department, commission, authority, tribunal, agency or entity; 

  

	 	(c)	commonwealth, state, territorial or local; 

 but does not include a governmental body in respect of any service or trading functions as distinguished from regulatory or fiscal functions. 

 

	 	(11)	HA means hyaluronic acid whether produced recombinantly through a bacillus host or otherwise. 

 

	 	(12)	HyACTTM Patents means the patents referred to in Schedule 1. 

 

	 	(13)	HA-irinotecan Product means a product with enhanced efficacy comprising combining HA and Irinotecan. 

 

	 	(14)	Information means information or know-how pertaining to, or in the possession or control of, a party including, but not limited to information concerning its
business, systems, technology and affairs, such as: 

  

	 	(a)	financial, technological, strategic or business information, concepts, plans, strategies, directions or systems; 

 

	 	(b)	research, development, operational, legal, marketing or accounting information, concepts, plans, strategies, directions or systems; 

 

	 	(c)	technology, source and object codes for computer software, intellectual property rights and technical and historical information relating thereto;

  

	 	(d)	customer and supplier information; and 

  

	 	(e)	information relating to the Products. 

  

	 	(15)	Insolvency Event means any event of insolvency, bankruptcy or liquidation of the relevant party, including any voluntary or involuntary judicial liquidation or
re-organisation proceedings. 

  

	 	(16)	Licensee means a person licensed by Alchemia or that person’s sub-licensee licensed to sell one or more Products or otherwise exploit the HyACTTM
Patents as the holder of a marketing authorization for such Product. 

  

	 	(17)	Material Form in relation to Information includes any form (whether visible or not) of storage from which Information can be reproduced, and any form in which
Information is embodied or encoded. 

  

	 	(18)	 Net Sales shall be determined using International Financial Reporting Standards and shall mean the gross amount received by Alchemia, an
Affiliate or a Licensee from any Third Party in respect of sales of the HA-irinotecan Product or Other Product together 

  
  

Royalty Agreement 

Page 3 

	 	
with any other sums received from any Licensees based on a license to sell one or more Products or otherwise exploit the HyACTTM Patents (e.g. in the form of milestone payments) less any and
all of the following: 

  

	 	(a)	trade, quantity or cash discounts or rebates actually allowed and taken; 

  

	 	(b)	credits or allowances given or made on account of price adjustments, recalls or destruction requested or made by an appropriate Government Agency; and

  

	 	(c)	any tax (excluding income tax), excise or other governmental charge upon or measured by the sale, transportation, delivery or use of the HA-irinotecan Product and Other
Products included in such amount. 

  

	 	(19)	Other Products means any product other than the HA-irinotecan Product developed under the HyACTTM Patents; 

 

	 	(20)	Plant means a new HA production facility capable of supplying HA in accordance with Q7 ICH guidelines to Alchemia in accordance with this Agreement and the
Supply Agreement by 1 January 2014, and being able to do so in quantities which will fulfil the whole of their requirements as anticipated. 

  

	 	(21)	Products means HA-irinotecan Products and Other Products. 

  

	 	(22)	Regulatory Authority means the FDA or the equivalent body in the relevant country. 

 

	 	(23)	Representative of a party means the employees, directors, agents, contractors or advisors of that party. 

 

	 	(24)	Royalty Period means, for each Product, the period commencing when the relevant Product is first sold in that country and is Covered By a HyACTTM Patent, and
ending at the later of when sales of the Product in that country ceases to be Covered By a HyACTTM Patent, or following expiry of a HyACTTM Patent, when Alchemia is no longer entitled to receive any royalties from a Licensee of the Product.

  

	 	(25)	Supply Agreement means the supply agreement to be entered into between the parties in relation to the supply of HA for the HA-irinotecan Product.

  

	 	(26)	Term means the period during which this Agreement is in force pursuant to clause 5. 

 

	 	(27)	Third Party means a person other than Novozymes, Alchemia, an Affiliate or Licensee. 

 

	 	(28)	Valid Claim means and is limited to any issued, unexpired claim of HyACTTM Patent, so long as such claim shall not have been abandoned, disclaimed or shall
not have been held invalid in a final decision rendered by a court or tribunal of competent jurisdiction from which no appeal has been or can be taken. Where a HyACTTM Patent has been issued in a country other than Australia without a separate
and independent examination by the relevant authorities of that country that patent will be deemed to have a scope equivalent to the scope of the claims of any corresponding Australian Patent which has had examination in Australia.

  
  

Royalty Agreement 

Page 4 

	1.2	Interpretation 

  

	 	(1)	Reference to: 

  

	 	(a)	one gender includes the others; 

  

	 	(b)	the singular includes the plural and the plural includes the singular; 

  

	 	(c)	a person includes a body corporate; 

  

	 	(d)	a party includes the party’s executors, administrators, successors and permitted assigns; 

 

	 	(e)	a thing includes the whole and each part of it separately; 

  

	 	(f)	a statute, regulation, code or other law or a provision of any of them includes: 

 

	 	(i)	any amendment or replacement of it; and 

  

	 	(ii)	another regulation or other statutory instrument made under it, or made under it as amended or replaced; and 

 

	 	(g)	dollars means United States dollars unless otherwise stated. 

  

	 	(2)	“Including” and similar expressions are not words of limitation. 

 

	 	(3)	Where a word or expression is given a particular meaning, other parts of speech and grammatical forms of that word or expression have a corresponding meaning.

  

	 	(4)	Headings and any table of contents or index are for convenience only and do not form part of this Agreement or affect its interpretation. 

 

	 	(5)	A provision of this Agreement must not be construed to the disadvantage of a party merely because that party was responsible for the preparation of the Agreement or the
inclusion of the provision in the Agreement. 

  

	 	(6)	If an act must be done on a specified day which is not a Business Day, it must be done instead on the next Business Day. 

 
  
  

	2.	Royalty 

  

	2.1	Obligation to pay royalty 

Subject to clause 2.3(3), during the Royalty Period in respect of each Product, Alchemia agrees to pay Novozymes a royalty, as a
percentage of Net Sales of the Product where those sales are Covered By a HyACTTM Patent, at the rates referred to in clause 2.2. 
  

	2.2	Royalty rates 

  

	 	(1)	In respect of Net Sales of the HA-irinotecan Product: 

  

	 	(a)	1%, if the HA-irinotecan Product is produced with HA supplied by Novozymes; 

  
  

Royalty Agreement 

Page 5 

	 	(b)	1%, if Novozymes is unable for any reason to supply HA for use in the relevant HA-irinotecan Product at the time of the Product’s first sales in the relevant
country, and from then until the Handover Date as defined in the Supply Agreement has occurred, or if having supplied the HA for use in a HA-irinotecanTM Product following such Handover Date, Novozymes is unable for any reason to continue to
supply HA in accordance with the Supply Agreement; and 

  

	 	(c)	2%, in any other case where Novozymes is capable of supplying HA, that is the Handover Date as defined in the Supply Agreement has occurred, and where the HA-irinotecan
Product does not incorporate Novozymes HA. Provided that this rate will be reduced to 1%: 

  

	 	(i)	if Novozymes decides not to complete the Plant or fails to do so by 1 January 2014 from the date the decision is made or 1 January 2014, whichever is the
earlier; or 

  

	 	(ii)	if Novozymes is the Defaulting Party under the Supply Agreement, on the date the Supply Agreement is terminated by Alchemia in respect of that default.

  

	 	(2)	In respect of Net Sales of an Other Product: 

  

	 	(a)	0.5%, if the Other Product is produced with HA supplied by Novozymes; 

  

	 	(b)	0.5% if Novozymes is unable for any reason to supply HA for use in the relevant Other Product at the time of the Product’s first sales in the relevant country, and
from then until Novozymes does so, or if having supplied the HA for use in a Other Product, Novozymes is unable for any reason to continue to supply HA; and 

 

	 	(c)	1.0%, in any other case where Novozymes is capable of supplying HA and where an Other Product does not incorporate Novozymes HA. Provided that this rate will be reduced
to 0.5%: 

  

	 	(i)	if Novozymes decides not to complete the Plant or fails to do so by 1 January 2014 from the date the decision is made of 1 January 2014, whichever is the
earlier; or 

  

	 	(ii)	if Novozymes is the Defaulting Party under the Supply Agreement, on the date the Supply Agreement is terminated by Alchemia in respect of that default.

  

	 	(3)	In clauses 2.2(1) and 2.2(2) “unable for any reason” includes Novozymes being unable to supply HA in accordance with required specifications and quantities
(including for reasons of force majeure), or at the price referred to in the Supply Agreement (cf. clause 2.2(1)), or a supply agreement (cf. clause 2.2(2)) as the case may be. 

  
  

Royalty Agreement 

Page 6 

	2.3	When royalty is due 

  

	 	(1)	In the event the relevant Product is sold by Alchemia (or any Affiliate) the royalty is due when payment has been received for the sale, in any other case the royalty
is due when Alchemia receives payment from its Licensee of the monies out of which the royalty is payable. 

  

	 	(2)	Alchemia will use reasonable endeavours to ensure Licensees are obliged to make payment of the monies out of which the royalty to Novozymes is payable within 60 days of
the end of the quarter in which payment for the Product is received by the Licensee. 

  

	 	(3)	If Novozymes supplies, or enters into an agreement to supply, a Third Party with HA and the use of the HA by the Third Party, or another party to which it re-supplies
the HA, infringes the Intellectual Property of Alchemia or the HA is intended by the Third Party or is in effect sold in direct competition with a specific Product, then no royalty will be due and payable to Novozymes with respect to any sales of
such Product by Alchemia, an Affiliate or Licensee from the date of that agreement 

  

	2.4	Reduction in royalty for an Other Product 

 In the event only that (i) the royalty received by Alchemia or any of its Affiliates from a Licensee in respect of an Other Product is less than 10% of Net Sales of such Other Product, and,
(ii) where development for such Other Product has not commenced a phase II trial at the time the relevant licence is entered into, then the royalty payable to Novozymes under this Agreement will be 5% of the percentage of Net Sales received by
Alchemia or any of its Affiliates. 
 That is if the royalty received by Alchemia is 5% of the Net Sales of that Other Product
then the royalty payable to Novozymes under this Agreement will be 0.25 % of Net Sales of such Other Product. 
  

	2.5	Currency conversion 

 In
respect of sales of the Product by Alchemia or its Affiliates, Alchemia will calculate royalties in local currencies and then convert the royalties using Reuters currency index (www.reuters.com/finance/currencies) rate of exchange on the day for
payment to Dollars. In any other case Alchemia will remit to Novozymes its royalty in the currency in which the royalty out of which such monies are paid is received. 
  

	2.6	Payments and reports 

  

	 	(1)	Alchemia must within 60 days of the end of each Quarter whilst royalties are payable provide Novozymes a written report setting out: 

 

	 	(a)	the gross sales of the Products for which payment has been received by Alchemia and its Licensees during that Royalty Period and the calculation of the Net Sales; and

  

	 	(b)	the calculation of the royalty payable to Novozymes, including details of the currency conversion rates used. 

  
  

Royalty Agreement 

Page 7 

	 	(2)	The royalty payable to Novozymes must be paid within 30 days from date of invoice by Novozymes into a bank account nominated by Novozymes. 

 

	2.7	Record keeping 

 For at
least 3 years after the end of the Royalty Period, Alchemia must keep and retain true and particular accounts and records of all sales of the Products sufficient to verify Alchemia’s calculation of Net Sales, the calculation of the royalty and
conversion into the relevant currency in accordance with clause 2.5. 
  

	2.8	Withholding tax 

  

	 	(1)	Novozymes shall be responsible for and shall bear all taxes levied upon payments received by it, and Novozymes hereby authorizes Alchemia to withhold such taxes from
the payments which are payable to Novozymes in accordance with this Agreement if Alchemia is either required to do so under the applicable tax laws or directed to do so by any relevant Government Agency. Upon the written request of Novozymes,
Alchemia shall, with respect to the laws of the country from which the payments are made, reasonably support Novozymes in its legal efforts to minimise any such withholding taxes, and provide Novozymes with information about and necessary for any
documentation needed to reduce withholding to a legal minimum and on request provide Novozymes with receipts and any other evidence from relevant revenue authorities which may be required by Novozymes for its own tax affairs.

  

	 	(2)	In the event that royalty payments received by Alchemia from Licensees are either directly or indirectly subject to withholding tax, Alchemia is not in any case obliged
to gross up the amount payable to Novozymes to account for such deductions, but Alchemia must (i) use commercially reasonable efforts to reduce such withholding tax to a legal minimum and (ii) provide Novozymes with receipts and other
evidence from relevant authorities which may be required by Novozymes for its own tax affairs. The royalty obligation to Novozymes shall be reduced to reflect the cash actually received by Alchemia from the Licensee. 

 

	2.9	Licensee directly liable 

Where Alchemia or any of its Affiliates appoints a Licensee, then Novozymes agrees to accept in lieu of the obligations of Alchemia under
this Agreement in respect of sales by such Licensee or its sub-licensees, a direct payment obligation in the form set out in Schedule 2 when and if executed. While such deed remains operative, Alchemia will have no obligations in respect
of such sales under this Agreement. 
  

	2.10	Sales of Products 

  

	 	(1)	No royalty under clause 2.1 is due and payable upon the sale or other transfer of Product among Alchemia, its Affiliates and Licensees, but in such cases, the royalty
will be calculated upon Alchemia’s or its Affiliates or Licensee’s sale of such Product to the first entity who is not Alchemia, an Affiliate or Licensee. 

 

	 	(2)	Alchemia must ensure that sales of Products by Alchemia to its Affiliates, and require that sales by its Licensees to Third Parties are on arms length terms. Nothing in
this clause shall preclude Alchemia or any Licensee from the disposition of Product in reasonable quantities as clinical supplies, or as free samples (promotional or otherwise) or as donations (for example, to non-profit institutions or Government
Agencies for a non-commercial purpose). 

  
  

Royalty Agreement 

Page 8 

	3.	Audit 

  

	3.1	Right to audit 

 During
the time that a royalty is payable to Novozymes under this Agreement and for a period of 3 year afterwards Novozymes may, at its expense, carry out an inspection and audit to determine whether Alchemia has properly complied with its relevant
obligations under clause 2.6(1). Such audit may not occur more than once per year. 
  

	3.2	Inspection of records 

Alchemia must, if given at least 20 Business Days’ prior written notice of Novozymes’ desire to carry out an inspection and
audit under clause 3.1, provide Novozymes, its Representatives and professional advisers with reasonable access during normal business hours to all relevant books, books of account, computer and electronic records and other documents necessary to
enable Novozymes to carry out the inspection and audit in respect of the royalty calculations referred to in clause 2.6(1). Alchemia must ensure that its personnel co-operate fully with Novozymes and its Representatives and promptly provide to
Novozymes and its Representatives an explanation of any matter reasonably required by them in connection with the inspection and audit. 
  

	3.3	Costs of inspection and audit 

 Alchemia and Novozymes must bear their own costs associated with conducting an inspection or audit or complying with its obligations under this clause. If an inspection or audit reveals an underpayment of
5% or more in the amount of the royalty referred to in clause 2, the cost incurred by Novozymes in connection with the inspection and audit must be paid by Alchemia. 
  

	3.4	Confidentiality 

 If in
the course of undertaking any inspection and audit under this clause 3 Novozymes or its employees or agents becomes aware of information which is the confidential information of Alchemia or third parties with whom Alchemia deals then the information
must be treated as if it was Confidential Information of Alchemia. 
  

 
  

	4.	Supply 

  

	4.1	Novozymes as preferred supplier 

 Subject
to: 
  

	 	(1)	detailed supply terms having been agreed for the supply of HA from Novozymes in relation to any Products; and 

 

	 	(2)	 Novozymes being able to supply HA in accordance with required specifications and quantities, and otherwise in accordance with such supply terms;

  
  

Royalty Agreement 

Page 9 

	 	Alchemia agrees to use best efforts to use Novozymes as its preferred supplier of HA. Additionally, to the extent it is legally entitled to do so, Alchemia agrees to
encourage Licensees to use Novozymes as their preferred supplier of HA, but this will not require Alchemia to impose such a requirement as a condition of any licence unless otherwise agreed. 

 
  
  

	5.	Term and termination 

  

	5.1	Term 

 This Agreement
shall become effective as of the later of (i) the Commencement Date or (ii) the execution of the Supply Agreement. Subject to clause 5.2, the Term of this Agreement is until the last to expire of the HyACTTM Patents. 

 

	5.2	Events for termination 

 A
party may terminate this Agreement at any time by written notice to the other party (the Defaulting Party) if any of the following apply: 
  

	 	(1)	the Defaulting Party fails to carry out any provision of this Agreement, the failure is capable of remedy and the Defaulting Party does not remedy that failure within
30 days after written notice to the Defaulting Party requiring it to be remedied; 

  

	 	(2)	the Defaulting Party fails to carry out any material provision of this Agreement and the failure is not capable of remedy; 

 

	 	(3)	the Defaulting Party is subject to an Insolvency Event; 

  

	 	(4)	a warranty given by the Defaulting Party in this Agreement is materially incorrect; and 

 

	 	(5)	it becomes unlawful for the Defaulting Party to perform its obligations under this Agreement. 

 

	5.3	Retention of rights 

 On
termination of this Agreement under clause 5.2 each party retains its rights against the other party in respect of any past breach, in addition to any other rights, powers or remedies provided by law. 

 

	5.4	Survival of provisions 

Clauses 1, 2.7, 3.1, 6, 8, 10 and 11 survive the termination and expiry of this Agreement for any reason. Termination or expiry of this
Agreement does not affect the Supply Agreement or any other agreement for the supply of HA, but the obligation to pay royalty to Novozymes under clause 2 ceases. 

  
  

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Page 10 

	6.	Existing Agreements 

  

	6.1	Mutual releases 

 Alchemia
and Novozymes release each other from all of their obligations under the Existing Agreements and any other previous understanding or agreement relating to the supply of HA by Novozymes to Alchemia, and waive any and all rights they may have in
relation to any present or past breaches of the Existing Agreements and any other previous understanding or agreement relating to the supply of HA by Novozymes to Alchemia. 

 

	6.2	Acknowledgements 

Alchemia and Novozymes each acknowledge and agree that to the extent that there were any Research Results or Joint IP (as defined in the
relevant Existing Agreements) the same is to be absolutely owned by Alchemia, and Novozymes hereby assigns to Alchemia absolutely the whole of its right title and interest in such Research Results and Joint IP. 

 
  
  

	7.	Warranties 

  

	7.1	General 

 In addition to
and despite all other warranties, express or implied, in this Agreement, each party warrants and covenants that: 
  

	 	(1)	it is empowered to enter into this Agreement and to do all things that will be required by this Agreement; 

 

	 	(2)	all things have been done or will be done as may be necessary to render this Agreement legally enforceable in accordance with its terms and fully valid and binding on
it; and 

  

	 	(3)	all authorisations by any Government Agency (whether in Australia or not) that are required or will be required in connection with the execution and delivery of, the
performance of obligations under or the validity or enforceability of, this Agreement have been obtained or effected and are or will be fully operative and in full force and effect; 

 

	 	(4)	there is no litigation, arbitration or administrative proceeding taking place, pending or, to its knowledge, threatened against it as at the date of this Agreement
which could have a material adverse effect on its ability to perform its obligations under this Agreement; 

  

	 	(5)	it will as soon as practicable notify the other party of the occurrence of, or pending or threatened occurrence of, any event that: 

 

	 	(a)	may cause or constitute a material breach of any of the acknowledgments, representations, warranties or covenants contained in this Agreement; or

  

	 	(b)	could have a material adverse effect on its ability to perform its obligations under this Agreement; 

 

	 	(6)	it has before the date of this Agreement and after diligent enquiry and investigation, fully disclosed to the other party all information concerning it that could
reasonably be regarded as affecting in any way the decision of the other party to enter into this Agreement; 

  
  

Royalty Agreement 

Page 11 

	 	(7)	no statement or representation made by it or on its behalf to the other party in negotiations prior to this Agreement is misleading or deceptive in any material
respect; and 

  

	 	(8)	all acts to be performed and all obligations to be discharged under this Agreement will be performed or discharged with all due care and expertise.

  

	7.2	Relating to patents 

Novozymes warrants and covenants to Alchemia that it will not either directly or indirectly oppose or otherwise contest the validity of
the HyACT Patents. 
  
  

 

	8.	Confidential Information 

  

	8.1	Prohibited acts 

 Neither
party may, without the other party’s prior written consent, copy or disclose or cause to be copied or disclosed any Confidential Information of the other party other than to the extent that such Confidential Information must be disclosed:

  

	 	(1)	to the party’s Representatives in order for this Agreement to be performed, provided that the recipients of the information undertake in writing to the party to
keep that information strictly confidential; or 

  

	 	(2)	to Regulatory Authorities. 

  

	8.2	Permitted uses 

 Each
party may only make use of Confidential Information of the other party to the extent necessary to enable the party to perform its obligations or exercise its rights under this Agreement. 

 

	8.3	Excluded information 

 For
the purposes of this clause, Confidential Information does not include any information which the receiving party can establish: 
  

	 	(1)	was in the public domain when it was disclosed to the receiving party; 

  

	 	(2)	becomes, after being disclosed to the receiving party, part of the public domain, except through disclosure contrary to this Agreement; 

 

	 	(3)	was already in the receiving party’s possession when it was disclosed to the receiving party and was not otherwise acquired from the other party directly or
indirectly; or 

  

	 	(4)	was lawfully disclosed to the receiving party by a third party having the unrestricted legal right to disclose that information without requiring the maintenance of
confidentiality. 

  
  

Royalty Agreement 

Page 12 

	8.4	Compulsory disclosures 

The obligations of confidentiality in this clause do not apply to a receiving party where the receiving party is required by law or under
the lawful compulsion of any court, tribunal, authority or regulatory body to disclose any Confidential Information of the other party. Provided that before a party discloses any Confidential Information pursuant to the foregoing it must provide the
other party with reasonable notice to enable it to seek a protective court order or other remedy in respect of the Confidential Information, and it must provide the other party with all assistance and co-operation which the other party considers
necessary to obtain such protective court order or other remedy. 
  

	8.5	Protection of information 

Each party must notify the other party in writing immediately upon the discovery of any apparent unauthorised use or disclosure of any
Confidential Information and take all reasonable steps to enforce the confidentiality obligations imposed or required to be imposed by this clause 8 including diligently prosecuting at its cost any breach or threatened breach of any such
confidentiality obligations by any person to whom it has disclosed or allowed to access to the Confidential Information or at the other party’s option making all reasonable efforts to assist the other party to help regain possession of the
Confidential Information and prevent any further unauthorised disclosure or use. 
  

	8.6	Confidentiality of agreement 

 The parties must maintain absolute confidentiality concerning the existence and subject matter of this Agreement and no public announcement or communication relating to the negotiations of the parties or
the existence, subject matter or terms of this Agreement may be made or authorised by a party without the prior written approval of the other party except that a party may make a disclosure in relation to this Agreement: 

 

	 	(1)	to its professional advisers, bankers, financial advisers, financiers, investors and potential investors upon those persons undertaking to keep confidential any
information so disclosed; 

  

	 	(2)	to actual or prospective Licensees upon those persons undertaking to keep confidential any information so disclosed; 

 

	 	(3)	to comply with any requirement of a Regulatory Authority; or 

  

	 	(4)	to comply with any applicable law or requirement of any other regulatory body. 

 

	8.7	Return of Confidential Information 

 Each party agrees that on termination or expiration of this Agreement it will deliver to that other party any and all materials containing or embodying that other party’s Confidential Information and
any copies thereof. 

  
  

Royalty Agreement 

Page 13 

	9.	Assignment 

  

	9.1	Agreement 

 A party must
not assign or otherwise deal with this Agreement (except to a party’s Affiliate) without the prior written consent of the other party, which consent must not be unreasonably withheld, provided that if Alchemia assigns the HyACTTM Patents to
a Third Party, Alchemia shall also novate this Agreement to such Third Party. Subject to the above consent of Novozymes (not to be unreasonably withheld), Novozymes agrees to participate in such novation, in such form as reasonably required by
Alchemia. 
  

	9.2	Patents 

 Subject to
clause 9.1, Alchemia is entitled to assign, license and otherwise deal with the HyACTTM Patents in respect of any Third Party without restriction. 
  

 
  

	10.	Dispute resolution 

  

	10.1	Initial Process 

 The
parties will negotiate in good faith and use reasonable efforts to settle any dispute, controversy or claim arising from or related to this Agreement or the breach thereof. If the parties do not fully settle, and a party wishes to pursue the matter,
each such dispute, controversy or claim will be finally resolved by binding arbitration in accordance with the Rules of Arbitration of the International Chamber of Commerce (ICC) and judgment on the arbitration award may be entered in any
court having jurisdiction thereof. 
  

	10.2	Arbitration Process 

 The
arbitration will be conducted by a panel of three persons experienced in the pharmaceutical manufacturing and distribution business. Within 30 days after initiation of arbitration, each party will select one person to act as arbitrator and the two
party-selected arbitrators will select a third arbitrator within 30 days of their appointment. If the arbitrators selected by the parties are unable or fail to agree upon the third arbitrator, the third arbitrator will be appointed by the ICC. The
place of arbitration will be London, UK and all proceedings and communications will be in English. 
  

	10.3	Injunctions and scope of awards 

 Either party may apply to the arbitrators for interim injunctive relief until the arbitration award is rendered or the controversy is otherwise resolved. Either party also may, without waiving any remedy
under this Agreement, seek from any court having jurisdiction any injunctive or provisional relief necessary to protect the rights or property of that party pending the arbitration award. The arbitrators will have no authority to award punitive or
any other type of damages not measured by a party’s compensatory damages. Each party will bear its own costs and expenses and attorneys’ fees and an equal share of the arbitrators’ and any administrative fees of arbitration.

  
  

Royalty Agreement 

Page 14 

	10.4	Confidentiality 

 Except
to the extent necessary to confirm an award or as may be required by law, neither a party nor an arbitrator may disclose the existence, content, or results of an arbitration without the prior written consent of both parties. In no event will an
arbitration be initiated after the date when commencement of a legal or equitable proceeding based on the dispute, controversy or claim would be barred by the applicable statute of limitations. 

 

	10.5	Stay of termination pending resolution 

 The parties agree that, in the event of a dispute over the nature or quality of performance under this Agreement, neither party may terminate the Agreement until final resolution of the dispute through
arbitration or other judicial determination. The parties further agree that any payments made pursuant to this Agreement pending resolution of the dispute will be refunded if an arbitrator or court determines that such payments are not due.

  
  

 

	11.	Miscellaneous Matters 

  

	11.1	Further assurance 

 Each
party must promptly at its own cost do all things (including executing and if necessary delivering all documents) necessary or desirable to give full effect to this Agreement. 

 

	11.2	Entire understanding 

 This Agreement:

  

	 	(1)	is the entire agreement and understanding between the parties on everything connected with the subject matter of this Agreement; and 

 

	 	(2)	supersedes any prior agreement or understanding on anything connected with that subject matter. 

 

	11.3	Variation 

 An amendment
or variation to this Agreement is not effective unless it is in writing and signed by the parties. 
  

	11.4	Waiver 

  

	 	(1)	A party’s failure or delay to exercise a power or right does not operate as a waiver of that power or right. 

 

	 	(2)	The exercise of a power or right does not preclude either its exercise in the future or the exercise of any other power or right. 

 

	 	(3)	A waiver is not effective unless it is in writing. 

  

	 	(4)	Waiver of a power or right is effective only in respect of the specific instance to which it relates and for the specific purpose for which it is given.

  
  

Royalty Agreement 

Page 15 

	11.5	Costs and outlays 

 Each
party must pay its own costs and outlays connected with the negotiation, preparation and execution of this Agreement. 
  

	11.6	Counterparts 

 This
Agreement may be executed in counterparts, and by the parties on separate or the same counterparts, each of which is deemed an original, but all of which constitute one and the same instrument. 

 

	11.7	Notices 

  

	 	(1)	A notice or other communication connected with this Agreement (Notice) has no legal effect unless it is in writing. 

 

	 	(2)	In addition to any other method of service provided by law, the Notice may be: 

 

	 	(a)	sent by prepaid post to the address of the addressee set out in this Agreement or subsequently notified; 

 

	 	(b)	sent by facsimile to the facsimile number of the addressee; or 

  

	 	(c)	delivered at the address of the addressee set out in this Agreement or subsequently notified. 

 

	 	(3)	If the Notice is sent or delivered in a manner provided by clause 11.7(2), it must be treated as given to and received by the party to which it is addressed:

  

	 	(a)	 if sent by post, on the
2nd Business Day (at the address to which it is posted)
after posting; 

  

	 	(b)	if sent by facsimile before 5pm on a Business Day at the place of receipt, on the day it is sent and otherwise on the next Business Day at the place of receipt; or

  

	 	(c)	if otherwise delivered before 5pm on a Business Day at the place of delivery, upon delivery, and otherwise on the next Business Day at the place of delivery.

  

	 	(4)	Despite clause (3)(b): 

  

	 	(a)	a facsimile is not treated as given or received unless at the end of the transmission the sender’s facsimile machine issues a report confirming the transmission of
the number of pages in the Notice; 

  

	 	(b)	a facsimile is not treated as given or received if it is not received in full and in legible form and the addressee notifies the sender of that fact within 3 hours
after the transmission ends or by 12 noon on the Business Day on which it would otherwise be treated as given and received, whichever is later. 

  

	 	(5)	A Notice sent or delivered in a manner provided by clause (2) must be treated as validly given to and received by the party to which it is addressed even if:

  

	 	(a)	the addressee has been liquidated or deregistered or is absent from the place at which the Notice is delivered or to which it is sent; or 

  
  

Royalty Agreement 

Page 16 

	 	(b)	the Notice is returned unclaimed. 

  

	 	(6)	Any Notice by a party may be given and may be signed by its solicitor. 

  

	11.8	Governing law and jurisdiction 

 The law of the United Kingdom governs this Agreement. 
 Executed as an agreement.

 Executed by Alchemia Oncology Pty 
 Ltd ACN 058 390 953 an agreement: 
  

					
	 /s/ Peter M. Smith
	  		  	 /s/ David K. Green

			
	 Peter M. Smith
	  		  	 David K. Green

	Name of director/company secretary	  		  	Name of director
	(BLOCK LETTERS)	  		  	(BLOCK LETTERS)

  

					
	 Executed by Novozymes Biopharma DK A/S:
	 		 	
			
	 /s/ Thomas Videbaek
	 		 	
	Director	 		 	
			
	 Thomas Videbaek
	 		 	
	 Executive Vice President
	 		 	
	 Novozymes A/S
	 		 	

  

					
	  
	  		  	  

	Name of director	  		  	Thomas Videbæk
	(BLOCK LETTERS)	  		  	Executive Vice President
		  		  	Novozymes A/S

  
  

Royalty Agreement 

Page 17 

 Schedule 1 
 HyACT TM Patents 
 Family 1:    PCT CA90/00306 “Falk 1”

   Active Patents US 6,069,135 
 Family 2:    PCT CA94/00207 
   Active Patents US
5,847,002 granted 
 Family 3:     PCT AU00/00004 “enhanced efficacy” 

  Active AU 773984 granted 
     NZ 512676 and NZ 522466 granted 

    EP 00902481.1 granted 
     TW 89100433 granted 
     CN 1336828
granted 
     CA 2370003 granted 
     US 09/889203 pending 
     JP
200593339 pending 
 Family 4:    PCT AU01/00849 “Pre-sensitizing” 

  Active AU 760404 granted 
     NZ 517359 granted 
     CN 1388760
pending 
     CA 2382560 pending 
     JP 2004582709 pending 
     UK 2368525
granted 
     US 11/191407 and US 11/198663 and US 11/415612 pending 

Family 5:    PCT AU02/01160 “Improved Therapeutics” 
   Active AU 2002325635 granted 
     NZ 531451
granted 
     CN 1578677 
     CA 2458856 
     JP 2003522577 pending

     MX 2004/001828 pending 
     US 10/479934 pending 

  
  

Royalty Agreement 

Page 18 

 Schedule 2 
 Direct Payment Deed 
 Deed poll made on [#Date] 

 

			
	By	  	[#Details of Licensee]
		  	of [#Address of Licensee]
		  	(Licensee)
	
	In favour of Novozymes Biopharma DK A/S 
		  	of Krogshøjvej 36, DK-2880 Bagsværd, Denmark
		  	(Novozymes)

  

	A.	The Licensee is a licensee from Alchemia Oncology Pty Limited (“Alchemia”) of, amongst other things, the HyACTTM Patents which allows the Licensee
to manufacture and sell certain products (the “Products”). 

  

	B.	 Pursuant to a Royalty Agreement between Alchemia and Novozymes dated June 18th 2009 (the “Royalty Agreement”), Alchemia has agreed to pay certain royalty payments to Novozymes in
relation to the manufacture and sale of Products by the Licensee. 

  

	C.	Pursuant to such Royalty Agreement, Novozymes agreed to accept in lieu of certain obligations of Alchemia under the Royalty Agreement the obligations assumed by the
Licensee under this deed poll. 

 It is agreed 

 

	1.	Definitions of interpretation 

  

	1.1	Definitions 

  

	 	(1)	Quarterly Report means the monthly report that the Licensee provides to Novozymes under clause 2.1; 

 

	 	(2)	Net Sales shall be determined using International Financial Reporting Standards and shall mean the gross amount received by Licensee from any third party in
respect of sales of Products together with any other sums received from any sub-licensees based on a license to sell one or more Products or otherwise exploit the HyACTTM Patents (e.g. in the form of milestone payments) less any and all of the
following: 

  

	 	(a)	trade, quantity or cash discounts or rebates actually allowed and taken; 

  

	 	(b)	credits or allowances given or made on account of price adjustments, recalls or destruction requested or made by an appropriate Government Agency; and

  

	 	(c)	any tax (excluding income tax), excise or other governmental charge upon or measured by the sale, transportation, delivery or use of the Product.

  
  

Royalty Agreement 

Page 19 

	1.2	Interpretation 

  

	 	(1)	Reference to: 

  

	 	(a)	the singular includes the plural and the plural includes the singular; 

  

	 	(b)	a person includes a body corporate; 

  

	 	(c)	a party includes the party’s successors and permitted assigns; 

  

	 	(d)	a thing includes the whole and each part of it separately 

  

	 	(2)	“Including” and similar expressions are not words of limitation. 

 

	 	(3)	Where a word or expression is given a particular meaning, other parts of speech and grammatical forms of that word or expression have a corresponding meaning.

  

	 	(4)	Headings and any table of contents or index are for convenience only and do not form part of this deed poll or affect its interpretation. 

 

	 	(5)	A provision of this deed poll must not be construed to the disadvantage of a Party merely because that Party was responsible for the preparation of the deed poll or for
proposing that provision. 

  

	2.	Royalty, Record keeping and reporting 

  

	2.1	Licensee agrees to pay to Novozymes a royalty at the rate of     % of Net Sales of Products. 

 

	2.2	Within 60 days of the end of each quarter, the Licensee will provide Novozymes a Quarterly Report. The Quarterly Report will include: 

 

	 	(1)	the gross sales of the Products for which payment has been received by Licensee during that quarter and the calculation of the Net Sales; and 

 

	 	(2)	the calculation of the royalty payable to Novozymes based on those Net Sales. 

 

	2.3	The Licensee must for a period of three years after the end of the quarter to which they relate keep and retain true and particular accounts and records of all sales of
the Products sufficient to verify Licensee’s calculation of Net Sales and the calculation of the royalty. 

  

	2.4	Licensee will pay the royalty within 60 days of the end of each quarter. Licensee will calculate royalties in local currencies will remit the same to Novozymes in the
currency in which the royalty out of which such monies are paid is received. 

  

	2.5	 Novozymes shall be responsible for and shall bear all taxes levied upon payments received by it, and Novozymes hereby authorizes Licensee to withhold
such taxes from the payments which are payable to Novozymes in accordance with this deed if Licensee is either required to do so under the applicable tax laws or directed to do so by any relevant Government Agency. Upon the written request of
Novozymes, Licensee shall, with respect to the laws of the country from which the payments are made, reasonably support Novozymes in its legal efforts to minimise any such withholding taxes, and provide Novozymes with information about and necessary
for any 

  
  

Royalty Agreement 

Page 20 

 
documentation needed to reduce withholding to a legal minimum and on request provide Novozymes with receipts and any other evidence from relevant revenue authorities which may be required by
Novozymes for its own tax affairs. 
  

	3.	Audit 

  

	3.1	During the time that a royalty is payable to Novozymes under this Deed and for a period of 3 years afterwards Novozymes may, at its expense, carry out an inspection and
audit to determine whether Licensee has properly complied with its relevant obligations under clause 2.1. Such audit may not occur more than once per year. 

 

	3.2	Licensee must, if given at least 20 Business Days’ prior written notice of Novozymes’ desire to carry out an inspection and audit under clause 3.1, provide
Novozymes, its representatives and professional advisers with reasonable access during normal business hours to all relevant books, books of account, computer and electronic records and other documents necessary to enable Novozymes to carry out the
inspection and audit in respect of the royalty calculations referred to in clause 2.1. Licensee must ensure that its personnel co-operate fully with Novozymes and its representatives and promptly provide to Novozymes and its representatives an
explanation of any matter reasonably required by them in connection with the inspection and audit. 

  

	3.3	Licensee and Novozymes must bear their own costs associated with conducting an inspection or audit or complying with its obligations under this clause. If an inspection
or audit reveals an underpayment of 5% or more in the amount of the royalty referred to in clause 2.1, the cost incurred by Novozymes in connection with the inspection and audit must be paid by Licensee. 

 

	3.4	If in the course of undertaking any inspection and audit under this clause 3 Novozymes or its employees or agents becomes aware of information which is the confidential
information of Licensee or third parties with whom Licensee deals then the information must be treated as if it was Confidential Information of Licensee. 

  

	4.	Termination of deed poll 

  

	4.1	This deed poll automatically terminates if the Royalty Agreement is terminated for any reason. 

 

	4.2	The Licensee may terminate this deed poll at any time by giving Alchemia and Novozymes 14 days written notice of termination. 

 

	5.	Notices 

 [#Notice
details to be confirmed] 
  

	5.1	Notice details of Alchemia are: 

  

	 	(1)	Address: 

  

	 	(2)	Facsimile: 

  

	 	(3)	Email: 

  

	 	(4)	Attention: 

  
  

Royalty Agreement 

Page 21 

	5.2	Notice details of Novozymes are: 

  

	 	(1)	Address: 

  

	 	(2)	Facsimile: 

  

	 	(3)	Email: 

  

	 	(4)	Attention: 

  

	5.3	Notice details of the Licensee are: 

  

	 	(1)	[#To insert] 

  

	6.	General 

  

	6.1	The Licensee acknowledges that Novozymes may assign the benefit of this deed poll to another person by giving the Alchemia and the Licensee notice in writing.

  

	6.2	The law of the United Kingdom governs this deed poll. 

 Executed as a deed poll and delivered on the date shown on the first page. 
 [#Insert
appropriate execution blocks] 

  
  

Royalty Agreement 

Page 22

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