Document:

exv4w1

Exhibit 4.1

EXECUTION VERSION

Reinsurance Group of America, Incorporated

RGA Capital Trust I

Amended and Restated Remarketing Agreement

February 15, 2011

Barclays Capital Inc.

745 Seventh Avenue

New York, NY 10019

Ladies and Gentlemen:

     Reinsurance Group of America, Incorporated, a Missouri corporation (the “Company”), and RGA
Capital Trust I, a Delaware statutory business trust (the “Trust”), issued and sold to Lehman
Brothers Inc. and Banc of America Securities LLC (the “Underwriters”) pursuant to the Underwriting
Agreement, dated December 12, 2001 (the “Underwriting Agreement”), 4,500,000 Trust Preferred Income
Equity Redeemable Securities (“PIERS”)1 units (the “Firm Units”) issued pursuant to a
Unit Agreement (the “Unit Agreement”) dated as of December 18, 2001, as supplemented September 12,
2008, among the Company, the Trust, The Bank of New York Mellon Trust Company, N.A., as successor
unit agent (in such capacity, the “Unit Agent”), as successor warrant agent (in such capacity, the
“Warrant Agent”), and as successor property trustee (in such capacity, the “Property Trustee”). In
addition, the Company and the Trust granted to the Underwriters an option (the “Option”) to
purchase up to an additional 675,000 Units (the “Option Units” and, together with the Firm Units,
the “Units”).

     Each Unit consists of a preferred security, liquidation preference $50 per security, of the
Trust (each, a “Preferred Security”) and a warrant (each, a “Warrant”) of the Company to purchase
at any time prior to the close of business on December 15, 2050, shares (the “Warrant Shares”) of
common stock, par value $0.01 per share, of the Company (“Common Stock”), subject to antidilution
adjustments. Each Preferred Security represents an undivided beneficial ownership interest in the
assets of the Trust, which assets consist solely of the 5.75% Junior Subordinated Deferrable
Interest Debentures due 2051 of the Company (the “Debentures”). Certain payments on the Preferred
Securities and Common Securities (the “Trust Securities”) are guaranteed (the “Guarantee“) by the
Company pursuant to the Guarantee Agreement (the “Guarantee Agreement”) dated as of December 18,
2001, between the Company and The Bank of New York Mellon Trust Company, as successor guarantee
trustee (in such capacity, the “Guarantee Trustee”).

     The Trust was formed on February 9, 2001 pursuant to a trust agreement dated as of February 8,
2001 (the “Original Trust Agreement”) executed by the Company, as depositor,

 

			
	1	 	“Preferred Income Equity Redeemable SecuritiesSM” and “PIERSSM” are service marks owned by
Lehman Brothers Inc.

 

 

and The Bank of New York (Delaware), as Delaware trustee (in such capacity, the “Delaware Trustee”), and a certificate
of trust dated as of February 8, 2001 (the “Trust Certificate”) filed with the Secretary of State
of the State of Delaware. The Trust is governed by, and the Preferred Securities were issued
under, the Original Trust Agreement, as amended and restated by the Amended and Restated Trust
Agreement (the “Amended and Restated Trust Agreement” and, together with the Original Trust
Agreement, the “Trust Agreement”)) dated as of December 18, 2001, among the Company, the Property
Trustee, the Delaware Trustee and A. Greig Woodring, Jack B. Lay and Todd C. Larson, as the initial
administrative trustees (in such capacities, the “Administrative Trustees”) which amended and
restated the Original Trust Agreement.

     The Trust used the proceeds from the sale of the Trust Securities to purchase the Debentures
that were issued pursuant to the Indenture (the “Original Indenture”), as supplemented by a
Supplemental Indenture (the “Supplemental Indenture” and, together with the Original Indenture, as
so supplemented, the “Indenture”), in each case, dated as of December 18, 2001 between the Company
and The Bank of New York Mellon Trust Company, N.A., as successor indenture trustee (in such
capacity, the “Indenture Trustee”). The Trust will, if and to the extent it receives the proceeds
of a payment on the Debentures, distribute to the holders of the Preferred Securities all payments
so received.

     The Company issued the Warrants pursuant to a Warrant Agreement (the “Warrant Agreement”)
dated as December 18, 2001, as amended as of September 12, 2008, between the Company and the
Warrant Agent.

     This Agreement, the Unit Agreement, the Trust Agreement, the Warrant Agreement, the Guarantee
Agreement and the Indenture are referred to herein collectively as the “Transaction Agreements” and
this Agreement, the Unit Agreement, the Trust Agreement and the Warrant Agreement are referred to
herein collectively as the “Unit Documents.”

          The remarketing (the “Remarketing”) of the Preferred Securities is provided for in the Trust
Agreement and in an agreement dated December 18, 2001 between the Company and Lehman Brothers Inc.
(the “Original Remarketing Agreement”), and if the Debentures have been distributed to the holders
of the Preferred Securities in exchange for such Preferred Securities, pursuant to the Trust
Agreement and the Indenture. From the date hereof, Barclays Capital Inc. (“Barclays”) hereby
agrees to be bound by the Original Remarketing Agreement as amended hereby.

          As used in this Agreement, the term “Remarketing Securities” means the Preferred Securities or
the Debentures, as applicable, subject to the Remarketing as notified by the Property Trustee, the
Unit Agent and the Indenture Trustee, as applicable, on the third Business Day prior to the
Remarketing Settlement Date; the term “Remarketing Procedures” means the procedures in connection
with the Remarketing of the Remarketing Securities described in the Trust Agreement, the Indenture
and this Agreement; and the term “Previous Related Transactions” means any transactions in
connection with (i) the redemption of or exchange for or exercise of the Warrants or (ii) elections
related to participation in the Remarketing.

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          Capitalized terms used and not defined in this Agreement shall have the meanings assigned to
them in the Unit Agreement, the Trust Agreement, the Warrant Agreement and the Guarantee Agreement
or, if not therein defined, the Indenture.

          Section 1. Appointment and Obligations of the Remarketing Agent. (a) The Company and the
Trust (together, the “Issuers”) hereby appoint Barclays as exclusive remarketing agent (the
“Remarketing Agent”), and Barclays hereby accepts appointment as Remarketing Agent, for the purpose
of (i) remarketing the Remarketing Securities on behalf of the holders thereof and (ii) performing
such other duties as are assigned to the Remarketing Agent in the Remarketing Procedures, all in
accordance with and pursuant to the Remarketing Procedures.

          (b) The Remarketing Agent agrees to:

     (i) use its commercially reasonable efforts to remarket the Remarketing
Securities deemed tendered to the Remarketing Agent in the Remarketing pursuant to
the Remarketing Procedures;

     (ii) notify the Issuers promptly of the Reset Rate; and

     (iii) carry out such other duties as are assigned to the Remarketing Agent
in the Remarketing Procedures, all in accordance with the provisions of the
Remarketing Procedures.

          (c) On the third Business Day immediately preceding the Remarketing Settlement Date (the
“Remarketing Date”), the Remarketing Agent shall use its commercially reasonable efforts to
remarket the Remarketing Securities, at a price at least equal to:

     (i) 100% of the aggregate Accreted Value thereof as of the end of the day on
the day next preceding the Remarketing Settlement Date; or

     (ii) on the Maturity Remarketing Date, 100% of the stated liquidation amount
of the Preferred Securities or the principal amount at maturity of the Debentures,
as the case may be.

          (d) If, as a result of the efforts described in Section 1(b), the Remarketing Agent
determines that it will be able to remarket all Remarketing Securities deemed tendered for purchase
at the purchase price set forth in Section 1(c) prior to 4:00 p.m. (New York City time) on the
Remarketing Date, the Remarketing Agent shall determine the Reset Rate, which shall be the rate per
annum (rounded to the nearest one-thousandth (0.001) of one percent per annum) that the Remarketing
Agent reasonably determines, in good faith after consultation with the Company, to be the lowest
distribution rate or interest rate, as applicable, per annum that will enable it to remarket all
Remarketing Securities deemed tendered for Remarketing. In the event of a Remarketing:

     (i) in connection with a Remarketing upon a Trading Remarketing Event or a
Legal Cause Remarketing Event, the Accreted Value of the Debentures as of

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the end of the day on the day next preceding the Remarketing Settlement Date
shall become due on the date which is 93 days following the Remarketing Settlement
Date, and, as a result, the Accreted Value of the Preferred Securities as of the end
of the day on the day next preceding the Remarketing Settlement Date shall be
redeemed on the date which is 93 days following the Remarketing Settlement Date;

     (ii) in connection with a Remarketing upon a Trading Remarketing Event or a
Legal Cause Remarketing Event, on the Remarketing Settlement Date, the rate of
interest per annum on the Accreted Value of the Debentures shall become the Reset
Rate on the Accreted Value of the Preferred Securities that is determined pursuant
to the Remarketing of the Preferred Securities, and, as a result, the Distribution
rate per annum on the Accreted Value of the Preferred Securities shall become the
Reset Rate established in the Remarketing of the Preferred Securities;

     (iii) as of the Remarketing Settlement Date, interest accrued and unpaid on
the Debentures from and including the immediately preceding Interest Payment Date
to, but excluding, the Remarketing Settlement Date shall be payable to the holders
of the Debentures on the Special Record Date and, as a result, Distributions
accumulated and unpaid on the Preferred Securities from and including the
immediately preceding Distribution Date to, but excluding, the Remarketing
Settlement Date shall be payable to the Holders of the Preferred Securities on the
Special Record Date (as defined in the Trust Agreement); and

     (iv) in connection with a Remarketing upon a Trading Remarketing Event or a
Legal Cause Remarketing Event, the Company shall be obligated to redeem the Warrants
on the Remarketing Settlement Date at a redemption price per Warrant equal to the
Warrant Redemption Amount as of the end of the day on the day next preceding the
Remarketing Date.

          (e) If none of the holders of Remarketing Securities elects to have Remarketing Securities
remarketed in the Remarketing, the Remarketing Agent shall reasonably determine, in good faith
after consultation with the Company, the distribution rate or interest rate, as applicable, that
would have been established had a Remarketing been held on the Remarketing Date, and such rate
shall be the Reset Rate, and the related modifications to the other terms of the Preferred
Securities and to the terms of the Debentures and the Warrants shall be effective as of the
Remarketing Date.

          (f) If, by 4:00 p.m. (New York City time) on the Remarketing Date, the Remarketing Agent is
unable to remarket all Remarketing Securities deemed tendered for purchase, a failed Remarketing (a
“Failed Remarketing”) shall be deemed to have occurred, and the Remarketing Agent shall so advise
by telephone (promptly confirmed in writing) The Depository Trust Company (“DTC”), the Property
Trustee, the Debenture Trustee, the Administrative Trustees and the Company. In the event of a
Failed Remarketing:

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     (i) beginning on the third Business Day after the Failed Remarketing Date,
interest will accrue on the Accreted Value of the Debentures (which in connection
with the expiration of the Warrants is $50), and Distributions will accumulate on
the Accreted Value of the Preferred Securities at the rate described in clause (iii)
below;

     (ii) the Accreted Value of all outstanding Debentures as of the end of the
day on the day next preceding the Remarketing Settlement Date shall become due on
the date which is 93 days following the Failed Remarketing Settlement Date, and, as
a result, the Accreted Value of the Preferred Securities as of the end of the day on
the day next preceding the Remarketing Settlement Date shall be redeemed on the date
which is 93 days following the Remarketing Settlement Date with respect to such
Failed Remarketing;

     (iii) the rate of interest per annum on the Accreted Value of the Debentures
shall become 10.25% per annum, and, as a result, the rate of Distribution per annum
on the Accreted Value of the Preferred Securities shall become 10.25% per annum,
which shall accrue and be payable as provided in the Trust Agreement; and

     (iv) pursuant to the Indenture, the Company no longer shall have the option
to defer payments of interest on the Debentures.

          (g) By approximately 4:30 p.m. (New York City time) on the Remarketing Date, provided that
there has not been a Failed Remarketing, the Remarketing Agent shall advise, by telephone (promptly
confirmed in writing):

     (i) DTC, the Property Trustee, the Debenture Trustee and the Issuers of the
Reset Rate determined in the Remarketing and the number of Remarketing Securities
(or, if applicable, aggregate principal amount of Remarketing Securities) sold in
the Remarketing,

     (ii) each purchaser (or their DTC participant) of the Reset Rate and the
number of Remarketing Securities (or, if applicable, aggregate principal amount of
Remarketing Securities) such purchaser is to purchase; and

     (iii) each purchaser to give instructions to its DTC participant to pay the
purchase price on the Remarketing Settlement Date in same day funds against delivery
of the Remarketing Securities purchased through the facilities of DTC.

          Section 2. Representations, Warranties and Agreements of the Issuers. The Trust (as to
itself and the Preferred Securities) and the Company represent, warrant and agree (i) on and as of
the date hereof (except to the extent representations relate specifically to the date or date(s)
referred to in clauses (ii) and (iii) of this paragraph), (ii) on and as of the date that the
Preliminary Prospectus (as defined in Section 2(a) below) is first distributed in connection with
the Remarketing (the “Commencement Date”) and (iii) on and as of the Remarketing Settlement Date,
that:

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          (a) The Company has filed with the Securities and Exchange Commission (the “Commission”) an
automatic shelf registration statement on Form S-3 (File Nos. 333-172296 and 333-172296-01) (the
“Registration Statement”), which registration statement became effective upon filing under Rule
462(e) of the Securities Act of 1933, as amended (the “Securities Act”). Such registration
statement covers the registration of the Remarketing Securities (among others) under the Securities
Act and has (i) been prepared by the Company in conformity in all material respects with the
requirements of the Securities Act, (ii) been filed with the Commission under the Securities Act
and (iii) become effective under the Securities Act. The Registration Statement is an “automatic
shelf registration statement” as defined under Rule 405 of the Securities Act that has been filed
with the Commission not earlier than three years prior to the date hereof. Copies of the
Registration Statement and all exhibits thereto have been delivered by the Company to you. As used
in this Agreement, “Effective Time” means the date and the time as of which each part of the
registration statement on Form S-3 (File Nos. 333-172296 and 333-172296-01) (the “Latest
Registration Statement”) or the most recent post-effective amendment thereto, if any, became
effective; “Effective Date” means the date of the Effective Time; “Preliminary Prospectus” means
each prospectus included in the Latest Registration Statement, or amendments thereof, before it
became effective under the Securities Act and any prospectus and prospectus supplement filed with
the Commission by the Company with the consent of the Underwriters pursuant to Rule 424(a) of the
Securities Act relating to the Remarketing Securities; the term “Registration Statement” means such
Latest Registration Statement, as amended as of the Effective Time, including the Incorporated
Documents (as defined below) and all information contained in the final prospectus relating to the
Remarketing Securities filed with the Commission pursuant to Rule 424(b) of the Securities Act and
deemed to be a part of such registration statement as of the Effective Time pursuant to Rule 430A
or Rule 430B of the Securities Act; and “Prospectus” means the prospectus and prospectus supplement
relating to the Remarketing Securities (or in the form made available to the Underwriters by the
Company to meet requests of purchasers) pursuant to Rule 172 or Rule 173 of the Securities Act.

     For purposes of this Agreement, “free writing prospectus” has the meaning set forth in Rule
405 of the Securities Act (which does not include communications not deemed a prospectus pursuant
to Rule 134 of the Securities Act and historical issuer information meeting the requirements of
Rule 433(e)(2) of the Securities Act) and “Time of Sale Prospectus” means the Preliminary
Prospectus together with any free writing prospectuses, if any, each identified in Schedule 1
hereto, and any other free writing prospectus that the parties hereto shall hereafter expressly
agree in writing to treat as part of the Time of Sale Prospectus (except for purposes of Sections
6(c) and 6(d)), for which the term “Time of Sale Prospectus” shall not include the free writing
prospectus(es) identified in Schedule 1). Reference made herein to the Preliminary Prospectus, the
Prospectus or the Time of Sale Prospectus shall be deemed to refer to and include any documents
incorporated by reference therein (pursuant to Item 12 of Form S-3 under the Securities Act, as of
the date of the Preliminary Prospectus, the Prospectus or the Time of Sale Prospectus, as the case
may be (such documents, the “Incorporated Documents”)), and any reference to any amendment or
supplement to the Preliminary Prospectus or the Prospectus shall be deemed to refer to and include
any document filed under the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Commission thereunder (collectively, the “Exchange Act”) after the date of the
Preliminary Prospectus, the Prospectus, or the date hereof, as the case may be, and incorporated by
reference in the Preliminary Prospectus, the Prospectus or Time of Sale Prsospectus, as the case
may be; and any reference to any amendment to the

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Registration Statement shall be deemed to include the documents filed with the Commission
pursuant to Section 13(a) or 15(d) of the Exchange Act after the Effective Time that is
incorporated by reference in the Registration Statement. The Commission has not issued any notice
of objection or any order preventing or suspending the use of any of the Preliminary Prospectus,
any free writing prospectus, the Time of Sale Prospectus, the Prospectus or the Registration
Statement.

          (b) The conditions for use of Form S-3, as set forth in the General Instructions thereto,
have been satisfied or waived.

          (c) (i) The Registration Statement conforms, and the Prospectus and any further amendments
or supplements to the Registration Statement or the Prospectus will, when they become effective or
are filed with the Commission, as the case may be, conform in all material respects to the
requirements of the Securities Act (including Rule 415(a) of the Securities Act), the Trust
Indenture Act of 1939, as amended, and the rules and regulations promulgated thereunder (“Trust
Indenture Act”); (ii) each part of the Registration Statement, as of its Effective Date and as of
the date hereof, and any amendment thereto, as of the date of any such amendment, did not, does not
and will not, as the case may be, contain an untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not
misleading; (iii) the Time of Sale Prospectus, as of the date hereof and at the time of each sale
(as such phrase is used in Rule 159 under the Act) of the Securities in connection with the
offering and as of the Delivery Date, as then amended or supplemented by the Company, if
applicable, does not and will not contain any untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading; and (iv) the Prospectus, as
of the date hereof and the Delivery Date, as then supplemented by the Company, if applicable, does
not and will not contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided that, the Company makes no
representation or warranty as to information contained in or omitted from the Registration
Statement, the Time of Sale Prospectus or the Prospectus in reliance upon and in conformity with
written information furnished to the Company by the Remarketing Agent expressly for inclusion
therein, which consists of the name of the Remarketing Agent as set forth on the front cover page
of the Preliminary Prospectus and the Prospectus and the information contained in the second
sentence of the fourth paragraph and in the fifth paragraph under the caption “Remarketing” in the
Preliminary Prospectus and the Prospectus, it being understood that seven paragraphs appear within
the “Remarketing” section.

          (d) The Incorporated Documents, when they were filed with the Commission, as the case may
be, conformed in all material respects to the requirements of the Securities Act and the Exchange
Act, as applicable; and none of the Incorporated Documents, when such documents were filed with the
Commission, contained any untrue statement of a material fact or omitted to state any material fact
required to be stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading; and any further documents so filed and
incorporated by reference in the Time of Sale Prospectus or the Prospectus, when such documents are
filed with the Commission, will conform in all material respects to the requirements of the
Exchange Act and will not contain any untrue

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statement of a material fact or omit to state any material fact required to be stated therein
or necessary to make the statements therein, in the light of the circumstances in which they were
made, not misleading.

          (e) The Company meets the requirements to use free writing prospectuses in connection with
the offering of the Securities pursuant to Rules 164 and 433 of the Securities Act. Any free
writing prospectus that the Company is required to file with the Commission pursuant to Rule 433(d)
of the Securities Act has been, or will be, timely filed with the Commission in accordance with the
requirements of the Securities Act. Each issuer free writing prospectus (as defined in Rule
433(h)(1) under the Act) that the Company has filed, or is required to file, pursuant to Rule
433(d) of the Securities Act, or that was prepared by or on behalf of or used by the Company
complies or will comply in all material respects with the requirements of the Securities Act.
Except for the free writing prospectus(es), if any, identified in Schedule 1 hereto, the Company
has not prepared, used or referred to, and will not, without the Remarketing Agent’s prior consent,
not to be unreasonably withheld or delayed, prepare, use or refer to, any free writing prospectus.

          (f) No relationship, direct or indirect, exists between or among the Company on the one
hand, and the directors, officers, shareholders, customers or suppliers of the Company on the other
hand, which is required to be described in each of the Time of Sale Prospectus and the Prospectus
which is not so described.

          (g) There are no contracts, agreements or other documents which are required to be
described in each of the Time of Sale Prospectus and the Prospectus or filed as exhibits to the
Registration Statement or the Incorporated Documents by the Securities Act or the Exchange Act, as
the case may be, which have not been described in each of the Time of Sale Prospectus and the
Prospectus or filed as exhibits to the Registration Statement or the Incorporated Documents.

          (h) Except as set forth in or contemplated by each of the Time of Sale Prospectus and the
Prospectus, neither the Company nor any of its subsidiaries has sustained, since the date of the
latest audited financial statements included or incorporated by reference in the Time of Sale
Prospectus, any material loss or interference with its business from fire, explosion, flood or
other calamity, whether or not covered by insurance, or from any labor dispute or court or
governmental action, order or decree; since such date, there has not been any material adverse
change in the capital stock, short-term debt or long-term debt of the Company or any of its
subsidiaries or any material adverse change, or any development involving a prospective material
adverse change, in or affecting the general affairs, management, consolidated financial position,
shareholders’ equity, results of operations, business or prospects of the Company and its
subsidiaries, taken as a whole; and subsequent to the respective dates as of which information is
given in the Time of Sale Prospectus and up to the Remarketing Settlement Date, except as set forth
in the Time of Sale Prospectus, (i) neither the Company nor any of its subsidiaries has incurred
any liabilities or obligations outside the ordinary course of business, direct or contingent, which
are material to the Company and its subsidiaries taken as a whole, nor entered into any material
transaction not in the ordinary course of business and (ii) there have not been dividends or
distributions of any kind declared, paid or made by Company on any class of its capital stock,
except for regularly scheduled dividends.

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          (i) Each of the Company and each of Reinsurance Company of Missouri, Incorporated, RGA
Reinsurance Company, RGA Reinsurance Company (Barbados) Ltd., RGA Life Reinsurance Company of
Canada, RGA Americas Reinsurance Company, Ltd. and RGA Atlantic Reinsurance Company Ltd. (the
“Significant Subsidiaries”), which are the Company’s only “significant subsidiaries” (as defined
under Rule 405 of the Securities Act), has been duly organized, is validly existing as a
corporation in good standing under the laws of its respective jurisdiction of incorporation, has
all requisite corporate power and authority to carry on its business as it is currently being
conducted and in all material respects as described in each of the Time of Sale Prospectus and the
Prospectus and to own, lease and operate its properties, and is duly qualified and in good standing
as a foreign corporation authorized to do business in each jurisdiction in which the nature of its
business or its ownership or leasing of property requires such qualification, except where the
failure to so register or qualify would not, reasonably be expected, singly or in the aggregate, to
result in a material adverse effect on the properties, business, results of operations, condition
(financial or otherwise), affairs or prospects of the Company and its subsidiaries, taken as a
whole (a “Material Adverse Effect”).

          (j) As of the date of this Agreement, the entities listed on Schedule 2 are the only
subsidiaries, direct or indirect, of the Company, and the Company owns, directly or indirectly
through other subsidiaries, the percentage indicated on such Schedule 2 of the outstanding capital
stock or other securities evidencing equity ownership of such subsidiaries, free and clear of any
security interest, claim, lien, limitation on voting rights or encumbrance; and all of such
securities have been duly authorized, validly issued, are fully paid and nonassessable and were not
issued in violation of any preemptive or similar rights. There are no outstanding subscriptions,
preemptive or other rights, warrants, calls, commitments of sale or options to acquire, or
instruments convertible into or exchangeable for, any such shares of capital stock or other equity
interest of such subsidiaries.

          (k) Neither the Company nor any of its subsidiaries is (i) in violation of its respective
charter or bylaws, (ii) is in default in the performance of any bond, debenture, note, indenture,
mortgage, deed of trust or other agreement or instrument to which it is a party or by which it is
bound or to which any of its properties is subject or (iii) is in violation of any law, statute,
rule, regulation, judgment or court decree applicable to the Company, any of its subsidiaries or
their assets or properties, except in the case of clauses (ii) and (iii) for any such violation or
default which does not or would not reasonably be expected to have a Material Adverse Effect.

          (l) The catastrophic coverage arrangements are described in each of the Time of Sale
Prospectus and the Prospectus are in full force and effect as of the date hereof and all other
retrocessional treaties and arrangements to which the Company or any of its Significant
Subsidiaries is a party and which have not terminated or expired by their terms are in full force
and effect, and none of the Company or any of its Significant Subsidiaries is in violation of or in
default in the performance, observance or fulfillment of, any obligation, agreement, covenant or
condition contained therein, except to the extent that any such violation or default would not
reasonably be expected to have a Material Adverse Effect; neither the Company nor any of its
Significant Subsidiaries has received any notice from any of the other parties to such treaties,
contracts or agreements that such other party intends not to perform such treaty, contract or
agreement that would reasonably be expected to have a Material Adverse Effect and, to the best

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knowledge of the Company, the Company has no reason to believe that any of the other parties
to such treaties or arrangements will be unable to perform such treaty or arrangement in any
respect that would reasonably be expected to have a Material Adverse Effect.

          (m) The execution, delivery and performance by the Company and the Trust of the Transaction
Agreements, as the case may be, the issuance of the Unit Securities by the Company and the Trust,
as applicable, the Remarketing of the Remarketing Securities by Company and the Trust, as
applicable, and the consummation by the Company and the Trust, as applicable, of the transactions
contemplated hereby and thereby (excluding any Previous Related Transactions) did not and will not
violate or constitute a breach of any of the terms or provisions of, or a default under (or an
event that with notice or the lapse of time, or both, would constitute a default), or require
consent under, or result in the imposition of a lien or encumbrance on any properties of the
Company or any of its subsidiaries, or an acceleration of indebtedness pursuant to, (i) the charter
or bylaws (or equivalent organizational documents) of the Company or any of its subsidiaries, (ii)
any bond, debenture, note, indenture, mortgage, deed of trust or other agreement or instrument to
which the Company or any of its subsidiaries is a party or by which any of them or their property
is or may be bound, (iii) any statute, rule or regulation applicable to the Company, any of its
subsidiaries or any of their assets or properties or (iv) any judgment, order or decree of any
court or governmental agency or authority having jurisdiction over the Company, any of its
subsidiaries or their assets or properties, other than in the case of clauses (ii) through (iv),
any violation, breach, default, consent, imposition or acceleration relating to the Original
Remarketing Agreement or that would not reasonably be expected to have a Material Adverse Effect
and, except for such consents or waivers as may have been obtained by the Company or such consents
or filings as may relate to the Original Remarketing Agreement, or as may be required under state
or foreign securities or Blue Sky laws and regulations by the Financial Industry Regulatory
Authority, Inc. (“FINRA”).

          (n) No consent, approval, authorization or order of, or filing, registration,
qualification, license or permit of or with, any court or governmental agency, body or
administrative agency is required for the execution, delivery and performance by the Company and
the Trust of the Transaction Agreements, as applicable, the issuance of the Unit Securities by the
Company and the Trust, as applicable, the Remarketing of the Remarketing Securities by the Company
and the Trust, and the consummation by the Company and the Trust, as applicable, of the
transactions contemplated hereby and thereby (excluding any Previous Related Transactions), except
such as (i) would not reasonably be expected to have a Material Adverse Effect, (ii) would not
prohibit or adversely affect the Remarketing of the Remarketing Securities and (iii) have been
obtained and made or, with respect to current reports on Form 8-K, a Prospectus and a free writing
prospectus to be filed with the Commission in connection with the issuance and sale of the
Remarketing Securities, will be made, under the Securities Act, or as may relate to the Original
Remarketing Agreement or may be required under state or foreign securities or Blue Sky laws and
regulations or by FINRA or has been obtained from the State of Missouri Department of Insurance.
Except as contemplated hereby, no consents or waivers from any other person were or are required,
as applicable, for the execution, delivery and performance by the Company and the Trust of the
Transaction Agreements, as applicable, the issuance of the Unit Securities by the Company and the
Trust, as applicable, the Remarketing of the Remarketing Securities and the consummation by the
Company of the transactions contemplated hereby and thereby, as applicable (excluding the Previous
Related Transactions), other than such

10

 

consents and waivers as (i) would not reasonably be expected to have a Material Adverse
Effect, (ii) may relate to the Original Remarketing Agreement, (iii) would not prohibit or
adversely affect the Remarketing of the Remarketing Securities or (iv) have been obtained.

          (o) Except as set forth in or contemplated by the Prospectus or as may relate to the
Original Remarketing Agreement, there is (i) no action, suit or proceeding before or by any court,
arbitrator or governmental agency, body or official, domestic or foreign, now pending or threatened
or contemplated to which the Company or any of its subsidiaries is or may be a party or to which
the business or property of the Company or any of its subsidiaries is or may be subject, (ii) no
statute, rule, regulation or order that has been enacted, adopted or issued by any governmental
agency or that has been proposed by any governmental body having jurisdiction over the Company or
its subsidiaries and (iii) no injunction, restraining order or order of any nature by a federal or
state court or foreign court of competent jurisdiction to which the Company or any of its
subsidiaries is or may be subject issued that, in the case of clauses (i), (ii) and (iii) above,
(x) would, singly or in the aggregate, reasonably be expected to result in a Material Adverse
Effect, (y) would interfere with or adversely affect the issuance of any of the Securities or (z)
in any manner draw into question the validity of any of the Transaction Agreements or the
Remarketing of the Remarketing Securities. The Time of Sale Prospectus contains in all material
respects the same description of the foregoing matters contained in the Prospectus.

          (p) None of the employees of the Company and its subsidiaries is represented by a union
and, to the best knowledge of the Company and its subsidiaries, no union organizing activities are
taking place. Neither the Company nor any of its subsidiaries has violated any federal, state or
local law or foreign law relating to discrimination in hiring, promotion or pay of employees, nor
any applicable wage or hour laws, nor any provision of the Employee Retirement Income Security Act
of 1974, as amended, and the rules and regulations thereunder (collectively, “ERISA”), or analogous
foreign laws and regulations, which would reasonably be expected to result in a Material Adverse
Effect.

          (q) Each of the Company and its subsidiaries has (i) good and, in the case of real
property, merchantable title to all of the properties and assets described in each of the Time of
Sale Prospectus and the Prospectus as owned by it, free and clear of all liens, charges,
encumbrances and restrictions, except such as are described in each of the Time of Sale Prospectus
and the Prospectus, or as would not reasonably be expected to have a Material Adverse Effect, (ii)
peaceful and undisturbed possession under all leases to which it is party as lessee, (iii) all
material licenses, certificates, permits, authorizations, approvals, franchises and other rights
from, and has made all declarations and filings with, all federal, state and local governmental
authorities (including, without limitation, from the insurance regulatory agencies of the various
jurisdictions where it conducts business) and all courts and other governmental tribunals (each, an
“Authorization”) necessary to engage in the business currently conducted by it in the manner
described in each of the Time of Sale Prospectus and the Prospectus, except where failure to hold
such Authorizations would not reasonably be expected to have a Material Adverse Effect, (iv)
fulfilled and performed all obligations necessary to maintain each authorization and (v) no
knowledge of any threatened action, suit or proceeding or investigation that would reasonably be
expected to result in the revocation, termination or suspension of any Authorization, the
revocation, termination or suspension of which would reasonably be expected

11

 

to have a Material Adverse Effect. Except as would not reasonably be expected to have a
Material Adverse Effect, all such Authorizations are valid and in full force and effect and the
Company and its subsidiaries are in compliance in all material respects with the terms and
conditions of all such Authorizations and with the rules and regulations of the regulatory
authorities having jurisdiction with respect thereto. No insurance regulatory agency or body has
issued any order or decree impairing, restricting or prohibiting the payment of dividends by any
subsidiary of the Company to its parent, other than any such orders or decrees the issuance of
which would not reasonably be expected to have a Material Adverse Effect. Except as would not have
a Material Adverse Effect, all leases to which the Company or any of its subsidiaries is a party
are valid and binding and no default by the Company or any of its subsidiaries has occurred and is
continuing thereunder, and, to the Company’s knowledge, no material defaults by the landlord are
existing under any such lease.

          (r) All tax returns required to be filed by the Company or any of its subsidiaries, in all
jurisdictions, have been so filed. All taxes, including withholding taxes, penalties and interest,
assessments, fees and other charges due or claimed to be due from such entities or that are due and
payable have been paid, other than those being contested in good faith and for which adequate
reserves have been provided or those currently payable without penalty or interest. The Company
does not know of any material proposed additional tax assessments against it or any of its
subsidiaries.

          (s) Neither the Company nor any of its subsidiaries is an “investment company” as defined,
and subject to regulation, under the Investment Company Act of 1940, as amended, and the rules and
regulations of the Commission thereunder (collectively, the “Investment Company Act”), or analogous
foreign laws and regulations.

          (t) The authorized, issued and outstanding capital stock of the Company has been validly
authorized and issued, is fully paid and nonassessable and was not issued in violation of or
subject to any preemptive or similar rights; and such authorized capital stock conforms in all
material respects to the description thereof set forth in each of the Time of Sale Prospectus and
the Prospectus. Except with respect to Warrants to purchase Common Stock issued by the Company as
part of the Trust Preferred Income Equity Redeemable Securities of the Company and RGA Capital
Trust I or otherwise as expressly set forth in the Time of Sale Prospectus (including with respect
to preferred stock purchase rights of the Company), since the date set forth in the Time of Sale
Prospectus, (A) there are no outstanding preemptive or other rights, warrants or options to
acquire, or instruments convertible into or exchangeable for, any shares of capital stock or other
equity interest in the Company or any of its subsidiaries, or any contract, commitment, agreement,
understanding or arrangement of any kind relating to the issuance of any capital stock of the
Company or any such subsidiary, any such convertible or exchangeable securities or any such rights,
warrants or options (except as contemplated by the terms of the 6.75% Junior Subordinated
Debentures due 2065 of the Company) and (B) there will have been no change in the authorized or
outstanding capitalization of the Company, except with respect to, in the case of each of clause
(A) and (B) above, (i) changes occurring in the ordinary course of business and (ii) changes in
outstanding Common Stock and options or rights to acquire Common Stock resulting from transactions
relating to the Company’s employee benefit, dividend reinvestment or stock purchase plans.

12

 

          (u) The Company maintains a system of internal control over financial reporting (as such
term is defined in Rule 13a-15(f) of the Exchange Act) that complies with the requirements of the
Exchange Act and has been designed by the Company’s principal executive officer and principal
financial officer, or under their supervision, to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with United States generally accepted accounting principles. The Company’s
internal control over financial reporting is effective and the Company is not aware of any material
weaknesses in its internal control over financial reporting. Since the date of the latest
financial statements included or incorporated by reference in each of the Time of Sale Prospectus
and the Prospectus, there has been no change in the Company’s internal control over financial
reporting that has materially affected, or is reasonably likely to materially affect, the Company’s
internal control over financial reporting. The Company has established and maintains disclosure
controls and procedures (as such terms are defined in Rule 13a-15(e) of the Exchange Act) in
accordance with the rules and regulations under the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley
Act”) and the Exchange Act. Such disclosure controls and procedures (a) are designed to provide
reasonable assurance that material information relating to the Company and its subsidiaries is made
known to the Company’s Chief Executive Officer and its Chief Financial Officer by others within
those entities. Such disclosure controls and procedures are effective to provide such reasonable
assurance.

          (v) The Company and each of its subsidiaries maintains insurance covering their properties,
personnel and business. Such insurance insures against such losses and risks as are adequate in
accordance with the Company’s perception of customary industry practice to protect the Company and
its subsidiaries and their businesses. Neither the Company nor any of its subsidiaries have
received notice from any insurer or agent of such insurer that substantial capital improvements or
other expenditures will have to be made in order to continue such insurance. All such insurance is
outstanding and duly in force on the date hereof and will be outstanding and duly in force on the
Commencement Date and the Remarketing Settlement Date.

          (w) Neither the Company nor any agent thereof acting on the behalf of the Company has
taken, and none of them will take, any action that might cause the execution, delivery and
performance by the Company and the Trust of the Transaction Agreements, as applicable, the issuance
of the Unit Securities by the Company and the Trust, as applicable, the Remarketing of the
Remarketing Securities by the Company and the Trust, as applicable, and the consummation by the
Company and the Trust, as applicable, of the transactions contemplated hereby and thereby to
violate Regulation T (12 C.F.R. Part 220), Regulation U (12 C.F.R. Part 221) or Regulation X (12
C.F.R. Part 224) of the Board of Governors of the Federal Reserve System.

          (x) Deloitte & Touche LLP (“Deloitte & Touche”), who has issued an unqualified opinion on
the financial statements and supporting schedules included or incorporated by reference in each of
the Time of Sale Prospectus and the Prospectus (other than the financial information for the
quarterly periods or the year ended and as of December 31, 2010) and has audited the Company’s
internal control over financial reporting and management’s assessment thereof, is an independent
registered public accounting firm as required by the Securities Act. The consolidated historical
statements together with the related schedules and notes fairly present, in all material respects,
the consolidated financial condition and results of

13

 

operations of the Company and its subsidiaries at the respective dates and for the respective
periods indicated, in accordance with United States generally accepted accounting principles
consistently applied throughout such periods, except as stated therein. Other financial and
statistical information and data included or incorporated by reference in each of the Time of Sale
Prospectus and the Prospectus, historical and pro forma, are, in all material respects, accurately
presented and prepared on a basis consistent with such financial statements, except as may
otherwise be indicated therein, and the books and records of the Company and its subsidiaries.

          (y) The 2009 statutory annual statements of each of the Company’s U.S. subsidiaries which
is regulated as an insurance company (collectively, the “Insurance Subsidiaries”) and the statutory
balance sheets and income statements included in such statutory annual statements together with
related schedules and notes, have been prepared, in all material respects, in conformity with
statutory accounting principles or practices required or permitted by the appropriate Insurance
Department of the jurisdiction of domicile of each such subsidiary, and such statutory accounting
practices have been applied on a consistent basis throughout the periods involved, except as may
otherwise be indicated therein or in the notes thereto, and present fairly, in all material
respects, the statutory financial position of the Insurance Subsidiaries as of the dates thereof,
and the statutory basis results of operations of the Insurance Subsidiaries for the periods covered
thereby.

          (z) The Company and the Insurance Subsidiaries have made no material changes in their
insurance reserving practices since December 31, 2009, except where such change in such insurance
reserving practices would not reasonably be expected to have a Material Adverse Effect.

          (aa) (i) The Company’s senior long-term debt is rated        by A.M. Best Company, Inc.,
       by Moody’s Investor Services (“Moody’s”) and        by Standard & Poor’s Rating Services, Inc.
(“S&P”); (ii) RGA Reinsurance Company has a financial strength rating of “A+” (Superior) from A.M.
Best Company, Inc., “A1” from Moody’s and “AA-” from S&P; (iii) RGA Life Reinsurance Company of
Canada has a financial strength rating of “A+” (Superior) from A.M. Best Company, Inc. and “AA-”
from S&P; and (iv) the Company is not aware of any threatened or pending downgrading of the ratings
set forth in clauses (i), (ii) and (iii) above or any other claims-paying ability rating of the
Company or any Significant Subsidiaries, other than as set forth or described in the Time of Sale
Prospectus.

          (bb) The Trust has been duly created and is validly existing as a statutory business trust
in good standing under the Statutory Trust Act of the State of Delaware, 12 Del. C. § 3801
et seq. (the “Delaware Statutory Trust Act”), with the power and authority (trust
and other) to own property and conduct its business as described in the Prospectus, and has
conducted and will conduct no business other than the transactions contemplated by the Prospectus.

          (cc) Each of the Administrative Trustees is either an officer or employee of the Company or
one of its subsidiaries and has been duly authorized by the Company or such subsidiary to serve in
such capacity and to execute and deliver the Trust Agreement.

14

 

          (dd) The Trust is not a party to or bound by any agreement or instrument other than the
Transaction Agreements to which it is a party and the agreements and instruments contemplated by
the Trust Agreement and described in the Prospectus; the Trust has no liabilities or obligations
other than those arising out of the transactions contemplated by the Transaction Agreements to
which it is a party and described in the Prospectus; and the Trust is not a party to or subject to
any action, suit or proceeding of any nature.

          (ee) Each of the Company and the Trust had or has, as applicable, all requisite corporate
and trust power and authority, as applicable, to execute, issue and deliver the Transaction
Agreements, to issue the Unit Securities and to cause the Remarketing of the Remarketing Securities
and to perform its respective obligations thereunder; each Transaction Agreement to which the
Company and the Trust is a party has been duly authorized by the Company or the Trust, as
applicable, and each Transaction Agreement, when duly executed and delivered by the Company and the
Trust, as applicable, and assuming due authorization, execution and delivery thereof by the other
parties thereto, constitutes a valid and binding agreement of the Company and the Trust, as
applicable, enforceable against the Company and the Trust, as applicable, in accordance with its
terms, except (i) as such enforcement may be limited by bankruptcy, insolvency, reorganization,
receivership, moratorium, fraudulent transfer or similar laws now or hereinafter in effect relating
to or affecting creditors’ rights generally and by general principles of equity, including, without
limitation, concepts of reasonableness, materiality, good faith and fair dealing, or as may be
provided in the Original Remarketing Agreement (ii) that the remedies of specific performance and
injunctive and other forms of equitable relief are subject to general equitable principles, whether
such enforcement is sought at law or in equity, (iii) that such enforcement may be subject to the
discretion of the court before which any proceedings therefore may be brought and (iv) with respect
to the rights of indemnification and contribution under this Agreement and the Remarketing
Agreement, which enforcement thereof may be limited by federal or state securities laws or the
policies underlying such laws (such exceptions, collectively, the “Standard Qualifications”). Each
of the Transaction Agreements conforms in all material respects to the description thereof
contained in the Prospectus. The Indenture, the Trust Agreement and the Guarantee Agreement shall
have been qualified under the Trust Indenture Act; and the Indenture, the Trust Agreement and the
Guarantee Agreement conform in all material respects to the requirements of the Trust Indenture
Act.

          (ff) Each of the Company and the Trust has all requisite corporate or trust power and
authority, as applicable, to cause the Remarketing to occur and to perform its obligations
thereunder.

          (gg) The Preferred Securities have been duly authorized, executed and delivered by the
Trust for issuance and sale pursuant to the Underwriting Agreement, the Unit Documents and the
Trust Agreement and, assuming the Preferred Securities have been duly issued, authenticated and
delivered pursuant to the provisions of the Unit Documents and the Trust Agreement against payment
of the consideration thereof in accordance with this Agreement, the Preferred Securities are duly
and validly issued, fully paid and nonassessable interests in the Trust.

15

 

          (hh) The Debentures have been duly authorized for issuance and sale by the Company pursuant
to the Underwriting Agreement and the Indenture and, assuming the Debentures have been duly issued,
authenticated and delivered pursuant to the provisions of the Indenture, against payment of the
consideration therefor in accordance with this Agreement, the Debentures are valid and binding
obligations of the Company, enforceable against the Company and entitled to the benefits of the
Indenture, except for the Standard Qualifications.

          (ii) Neither the Company, nor to its knowledge, any of its Affiliates (as defined in
Regulation C of the Securities Act, an “Affiliate”), has taken or will take, directly or
indirectly, any action designed to cause or result in, or which has constituted or which might
reasonably be expected to constitute, the stabilization or manipulation of the price of the
Securities to facilitate the sale or resale of such securities.

          (jj) No event has occurred nor has any circumstance arisen which, had the Securities been
issued on the date hereof, would constitute a default or an event of default under the Indenture,
the Trust Agreement or the Guarantee Agreement.

          (kk) Each certificate signed by any officer of the Company and delivered to the Remarketing
Agent or counsel for the Remarketing Agent shall be deemed to be a representation and warranty by
the Company to the Remarketing Agent as to the matters covered thereby.

          (ll) Each of the Administrative Trustees is either an officer or employee of the Company or
one of its subsidiaries and has been duly authorized by the Company or such subsidiary to serve in
such capacity and to execute and deliver the Trust Agreement.

          (mm) As of the date of this Agreement, no event has occurred nor has any circumstance
arisen which, had the Debentures been issued on such date, would constitute a default or an Event
of Default (as such term is defined in the Indenture).

          Section 3. [Reserved.]

          Section 4. Fees and Expenses. (a) If there has been a successful Remarketing, the
Company shall pay to the Remarketing Agent for the performance of its services as Remarketing Agent
hereunder on the Remarketing Settlement Date, by wire transfer to an account designated by the
Remarketing Agent, a fee in an amount equal to 25 basis points (0.25%) of the Accreted Value of the
Remarketed Securities.

          (b) The Company agrees to pay:

     (i) the costs incident to the preparation and printing of the Prospectus and
any amendments or supplements thereto;

     (ii) the costs of distributing the Prospectus and any amendments or
supplements thereto;

16

 

     (iii) the fees and expenses of qualifying the Remarketing Securities under
the securities laws of the several jurisdictions as provided in Section 5(b) and of
preparing and distributing a Blue Sky Memorandum (including related fees and
expenses of counsel to the Remarketing Agent); and

     (iv) all other costs and expenses incident to the performance of the
obligations of the Issuers hereunder.

The Trust shall not be liable for any fees and expenses in this Section.

          Section 5. Further Agreements of the Company. The Company agrees to use its reasonable
best efforts:

          (a) To furnish promptly to the Remarketing Agent and to counsel to the Remarketing
Agent, copies of the Prospectus (and all amendments and supplements thereto) in each case as
soon as available and in such quantities as the Remarketing Agent reasonably requests for
internal use and for distribution to prospective purchasers. The Company will pay the
expenses of printing and distributing to the Remarketing Agent all such documents.

          (b) To deliver promptly to the Remarketing Agent in New York City such number of the
following documents as the Remarketing Agent shall request:

     (i) the Prospectus and any amended or supplemented Prospectus; and

     (ii) any document incorporated by reference in the Prospectus (excluding
exhibits thereto);

and, if the delivery of a prospectus is required at any time in connection with the
Remarketing and if at such time any event shall have occurred as a result of which the
Prospectus as then amended or supplemented would include any untrue statement of a material
fact or omit to state any material fact necessary in order to make the statements therein,
in the light of the circumstances under which they were made when such Prospectus is
delivered, not misleading, or if for any other reason it shall be necessary during such same
period to amend or supplement the Prospectus or to file under the Exchange Act any document
incorporated by reference in the Prospectus in order to comply with the Securities Act or
the Exchange Act, to notify the Remarketing Agent and, upon its request, to file such
document and to prepare and furnish without charge to the Remarketing Agent and to any
dealer in securities as many copies as the Remarketing Agent may from time to time request
of an amended or supplemented Prospectus which will correct such statement or omission or
effect such compliance.

     (c) Promptly from time to time to take such action as the Remarketing Agent may
reasonably request to qualify any of the Remarketing Securities for offering and sale under
the securities laws of such jurisdictions within the United States as the Remarketing Agent
may request (and such other jurisdictions as to which the Company and the Remarketing Agent
mutually agree) and to comply with such laws so as to permit

17

 

the continuance of sales and dealings therein in such jurisdictions for as long as may
be necessary to complete the distribution of the Preferred Securities; provided that in
connection therewith, neither the Company shall be required to qualify as a foreign
corporation or to file a general consent to service of process in any jurisdiction.

          Section 6. Conditions to the Remarketing Agent’s Obligations. The obligations of the
Remarketing Agent hereunder are subject to the accuracy, on and as of the date when made, of the
representations and warranties of the Issuers contained herein, to the performance by the Issuers
of their respective obligations hereunder, and to each of the following additional terms and
conditions:

          (a) The Remarketing Agent shall not have discovered and disclosed to the Company
prior to on or prior to the Remarketing Settlement Date that, in the opinion of Simpson,
Thacher & Bartlett, counsel to the Remarketing Agent, the Registration Statement or any
amendment thereto, contained, as of the Commencement Date, an untrue statement of a material
fact or omitted to state a material fact required to be stated therein or necessary to make
the statements therein not misleading or that the Prospectus or any supplement thereto,
contains and will contain, as of the date hereof and the Remarketing Settlement Date, an
untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading.

          (b) All corporate proceedings and other legal matters incident to the authorization,
form and validity of the Registration Statement, the Preliminary Prospectus, the Prospectus,
the Transaction Agreements, the Unit Securities, the Remarketing of the Remarketing
Securities and all other legal matters relating to the Remarketing of the Remarketing
Securities and the transactions contemplated hereby and thereby shall be reasonably
satisfactory in all material respects to counsel to the Remarketing Agent.

          (c) Bryan Cave LLP or other, special counsel to the Company, shall have furnished to
the Remarketing Agent its written opinion, addressed to the Remarketing Agent and dated such
Remarketing Settlement Date to the Remarketing Agent, in form and substance reasonably
satisfactory to the Remarketing Agent, substantially to the effect set forth in Exhibit A.

          (d) William L. Hutton, Esq., Senior Vice President, General Counsel and Secretary of the
Company, or other counsel to the Company shall have furnished to the Remarketing Agent his written
opinion, addressed to the Remarketing Agent and dated such Remarketing Settlement Date, in form and
substance reasonably satisfactory to the Remarketing Agent, substantially to the effect set forth
in Exhibit B.

          (e) Richards Layton & Finger, P.A. shall have furnished to the Remarketing Agent its
written opinion, as special Delaware counsel to the Trust, addressed to the Remarketing Agent and
dated such Remarketing Settlement Date, in form and substance reasonably satisfactory to the
Remarketing Agent, substantially to the effect set forth in Exhibit C.

18

 

          (f) [Reserved.]

          (g) Simpson Thacher & Bartlett LLP, shall have furnished to the Remarketing Agent its
written opinion, as counsel to the Remarketing Agent, addressed to the Remarketing Agent and dated
the Remarketing Settlement Date, in form and substance reasonably satisfactory to the Remarketing
Agent.

          (h) By the Remarketing Date and the Remarketing Settlement Date, Deloitte & Touche shall
have furnished to the Remarketing Agent its letters, in form and substance reasonably satisfactory
to the Remarketing Agent, containing statements and information of the type customarily included in
accountants’ initial and bring-down “comfort letters” to remarketing agents with respect to the
financial statements and certain financial information contained and incorporated by reference in
the Registration Statement, the Time of Sale Prospectus and the Prospectus.

          (i) The Company shall have furnished to the Remarketing Agent a certificate, dated such
Remarketing Settlement Date, of its President or any Executive or Senior Vice President and its
principal financial or accounting officer stating, in the name of and in their capacity as officers
of the Company, that:

     (i) The representations, warranties and agreements of the Company and the
Trust in Section 1 are true and correct in all material respects as of the
Remarketing Settlement Date; the Company and the Trust have complied with in all
material respects with all of their agreements contained herein to be performed
prior to or on the Remarketing Settlement Date; and the conditions set forth in
Sections 6(k) have been fulfilled.

     (ii) (A) Neither the Company nor any of its subsidiaries has sustained
since the date of the latest audited financial statements included or incorporated
by reference in each of the Time of Sale Prospectus and the Prospectus any material
loss or interference with its business from (I) any governmental or regulatory
action, notice, order or decree of a regulatory authority or (II) fire, explosion,
flood or other calamity, whether or not covered by insurance, or from any labor
dispute or court, in each case, otherwise than as set forth each of the Time of Sale
Prospectus and the Prospectus; (B) since such date there has not been any material
change in the capital stock, short-term debt or long-term debt of the Company or any
of its subsidiaries or any material adverse change, or any development involving a
prospective material adverse change, in or affecting the general affairs,
management, financial position, stockholders’ equity or results of operations of the
Company and its subsidiaries taken as a whole, otherwise than as set forth or
contemplated in each of the Time of Sale Prospectus and the Prospectus; and (C) the
Company has not declared or paid any dividend on its capital stock, except for
dividends declared in the ordinary course of business and consistent with past
practice, otherwise than as set forth in each of the Time of Sale Prospectus and the
Prospectus and, except as set forth or contemplated in each of the Time of Sale
Prospectus and the Prospectus, neither the Company nor any of its subsidiaries has
entered into any transaction or agreement (whether or

19

 

not in the ordinary course of business) material to the Company and its
subsidiaries taken as a whole.

     (iii) They have carefully examined the Registration Statement, the Time of
Sale Prospectus and the Prospectus and, in their opinion (A) the Registration
Statement, as of the Effective Date, did not include any untrue statement of a
material fact and did not omit to state a material fact required to be stated
therein or necessary to make the statements therein not misleading, (B) the Time of
Sale Prospectus, as of the Remarketing Date and as of the Remarketing Settlement
Date, did not include any untrue statement of a material fact and did not omit to
state a material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances under which they were made,
not misleading, (C) the Prospectus, as of the date hereof and as of the Remarketing
Settlement Date, did not include any untrue statement of a material fact and did not
omit to state a material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances under which they were made,
not misleading and (D) since the Effective Date, no event has occurred which should
have been set forth in a supplement or amendment to the Registration Statement, the
Time of Sale Prospectus or the Prospectus.

     (iv) They have compared the Company’s quarterly and annual data for the
period ended December 31, 2010 (the “Earnings Statement”) as set forth in the
Company’s current report on Form 8-K filed on February 15, 2011 and incorporated by
reference in the Prospectus, and find the Earnings Statement to be in agreement with
the Company’s audited financials contained in the Company’s annual report on Form
10-K for the year ended December 31, 2010.

          (j) From the Commencement Date until the Remarketing Settlement Date, neither the Company
nor any of its subsidiaries (i) shall have sustained since the date of the latest audited financial
statements included or incorporated by reference in the Time of Sale Prospectus any loss or
interference with its business from fire, explosion, flood or other calamity, whether or not
covered by insurance, or from any labor dispute or court or governmental action, order or decree,
otherwise than as set forth or contemplated in each of the Time of Sale Prospectus and the
Prospectus or (ii) since such date there shall not have been any change in the capital stock,
short-term debt or long-term debt of the Company or any of its subsidiaries or any change, or any
development involving a prospective change, in or affecting the general affairs, management,
financial position, prospects, stockholders’ equity or results of operations of the Company and its
subsidiaries, otherwise than as set forth or contemplated in each of the Time of Sale Prospectus
and the Prospectus, the effect of which, in any such case described in clause (i) or (ii), is, in
the judgment of Barclays, so material and adverse as to make it impracticable or inadvisable to
proceed with the offering or the delivery of the Unit Securities being delivered on such
Remarketing Settlement Date on the terms and in the manner contemplated in Time of Sale Prospectus
and the Prospectus.

          (k) Subsequent to the execution and delivery of this Agreement, (i) no downgrading shall
have occurred in the rating accorded the Company’s or any Significant Subsidiary’s debt securities
or financial strength by any “nationally recognized statistical rating

20

 

organization”, as that term is defined by the Commission for purposes of Rule 436(g)(2) of the
Securities Act (except as contemplated by clause (ii)), (ii) no such organization shall have
publicly announced or privately communicated to the Company or any Significant Subsidiary that it
has under surveillance or review, with possible negative implications, its rating of any of the
Company’s or any Significant Subsidiary’s debt securities or financial strength, other than any
downgrade by Fitch that is consistent with its existing negative outlook and as set forth or
contemplated in each of the Time of Sale Prospectus and the Prospectus, and (iii) the Remarketing
Securities shall have continued to be rated (x)       by Moody’s, Investor Service, Inc., (y)       by
Standard & Poor’s Corporate Ratings Services, and (x)       by A.M. Best Company, Inc.

          (l) On or after the date hereof, there shall not have occurred any of the following: (i) a
suspension or material limitation in trading in securities generally on the New York Stock
Exchange; (ii) a suspension or material limitation in trading in the Company’s securities on the
New York Stock Exchange; (iii) a general moratorium on commercial banking activities declared by
either federal or New York State authorities or a material disruption in commercial banking or
securities settlement or clearance services in the United States; (iv) the outbreak or escalation
of hostilities involving the United States or the declaration by the United States of a national
emergency or war; or (v) the occurrence of any other calamity or crisis or any change in financial,
political or economic conditions in the United States or elsewhere, if the effect of any such event
specified in clause (iv) or (v) in the judgment of Barclays makes it impracticable or inadvisable
to proceed with the public offering or delivery of the Remarketing Securities being delivered on
such Remarketing Settlement Date on the terms and in the manner contemplated in the Time of Sale
Prospectus and the Prospectus.

          (m) By the Remarketing Date, the Company will have filed with the Securities and Exchange
Commission its annual report on Form 10-K for the year ended December 31, 2010.

          All opinions, letters, evidence and certificates mentioned above or elsewhere in this
Agreement shall be deemed to be in compliance with the provisions hereof only if they are in form
and substance reasonably satisfactory to counsel to the Remarketing Agent. No opinion shall state
that it is to be governed or qualified by, or that it is otherwise subject to, any treatise,
written policy or other document relating to legal opinions, including, without limitation, the
Legal Opinion Accord of the ABA Section of Business Law (1991). All opinions (other than the
opinion referred to in (g) above) shall state that they may be relied upon by Simpson Thacher &
Bartlett LLP as to matters of law (other than New York and federal law).

          Section 7. Indemnification and Contribution. (a) The Company shall indemnify and hold
harmless the Remarketing Agent, its officers and employees and each person, if any, who controls
the Remarketing Agent within the meaning of the Securities Act, from and against any loss, claim,
damage or liability, joint or several, or any action in respect thereof (including, but not limited
to, any loss, claim, damage, liability or action relating to purchases and sales of the Remarketing
Securities), to which the Remarketing Agent or that officer, employee or controlling person may
become subject, under

21

 

the Securities Act or otherwise, insofar as such loss, claim, damage, liability or action
arises out of, or is based upon:

     (i) any untrue statement or alleged untrue statement of a material fact
contained in any (A) the Registration Statement, the Time of Sale Prospectus, any
free writing prospectus that the Company has filed or is required to file with the
Commission pursuant to Rule 433(d) of the Securities Act, the Prospectus or in any
amendment or supplement thereto, or (B) any blue sky application or other document
prepared or executed by the Company or the Trust (or based upon any written
information furnished by the Company or the Trust) filed in any jurisdiction
specifically for the purpose of qualifying any or all of the Remarketing Securities
under the securities laws of any state or other jurisdiction (such application,
document or information being hereinafter called a “Blue Sky Application”);

     (ii) the omission or alleged omission to state in Registration Statement,
the Time of Sale Prospectus, any free writing prospectus that the Company has filed
or is required to file with the Commission pursuant to Rule 433(d) of the Securities
Act, the Prospectus or in any amendment or supplement thereto, or in any Blue Sky
Application, any material fact required to be stated therein or necessary to make
the statements therein (and with respect to the Time of Sale Prospectus, the
Prospectus or any such issuer free writing prospectus, in the light of the
circumstances under which such statements are made) not misleading; and

     (iii) any act or failure to act or any alleged act or failure to act by the
Remarketing Agent in connection with, or relating in any manner to, the Remarketing,
and which is included as part of or referred to in any loss, claim, damage,
liability or action arising out of or based upon matters covered by clause (i) or
(ii) above, provided that the Company shall not be liable under this clause (iii) to
the extent that it is determined in a final judgment by a court of competent
jurisdiction that such loss, claim, damage, liability or action resulted directly
from any such acts or failure to act undertaken or omitted to be taken by the
Remarketing Agent through its gross negligence or willful misconduct;

and shall reimburse the Remarketing Agent and each such officer, employee or controlling person
promptly upon demand for any legal or other expenses reasonably incurred by the Remarketing Agent
or that officer, employee or controlling person in connection with investigating or defending or
preparing to defend against any such loss, claim, damage, liability or action as such expenses are
incurred; provided, however, that the Company shall not be liable in any such case to the extent
that any such loss, claim, damage, liability or action arises out of, or is based upon, any untrue
statement or alleged untrue statement or omission or alleged omission made in any Preliminary
Prospectus, the Registration Statement, the Time of Sale Prospectus, any free writing prospectus
that the Company has filed or is required to file with the Commission pursuant to Rule 433(d) of
the Securities Act, or the Prospectus or in any such amendment or supplement, in reliance upon and
in conformity with the written information concerning the Remarketing Agent furnished to the
Issuers through the Representatives by or on behalf of the Remarketing Agent expressly for
inclusion therein (which consists of the

22

 

information specified in Section 2(c)). The foregoing indemnity agreement is in addition to any
liability which the Company may otherwise have to the Remarketing Agent or to any officer, employee
or controlling person of the Remarketing Agent.

          (b) The Remarketing Agent shall indemnify and hold harmless the Company, its officers, and
employees and each of its directors, the Trust and each Trustee and each person, if any, who
controls any of the Issuers within the meaning of the Securities Act, from and against any loss,
claim, damage or liability, joint or several, or any action in respect thereof, to which the
Company, any such director, officer or employee, the Trust or any such Trustee or any such
controlling person may become subject, under the Securities Act or otherwise, insofar as such loss,
claim, damage, liability or action arises out of, or is based upon:

     (i) any untrue statement or alleged untrue statement of a material fact
contained in the Registration Statement, the Time of Sale Prospectus, any free
writing prospectus that the Company has filed or is required to file with the
Commission pursuant to Rule 433(d) of the Securities Act, or the Prospectus or in
any amendment or supplement thereto, or in any Blue Sky Application; or

     (ii) the omission or alleged omission to state in the Registration
Statement, the Time of Sale Prospectus, any free writing prospectus that the Company
has filed or is required to file with the Commission pursuant to Rule 433(d) of the
Securities Act, or Prospectus or in any amendment or supplement thereto, or in any
Blue Sky Application, any material fact required to be stated therein or necessary
to make the statements therein (and with respect to the Time of Sale Prospectus, the
Prospectus or any such free writing prospectus, in the light of the circumstances
under which such statements are made) not misleading;

but in each case only to the extent that the untrue statement or alleged untrue statement or
omission or alleged omission was made in reliance upon and in conformity with the written
information furnished to the Issuers by or on behalf of the Remarketing Agent specifically for
inclusion therein (which consists of the information specified in Section 2(c)), and shall
reimburse the Company and any such director, officer or employee, the Trust or any such Trustee or
such controlling person promptly upon demand for any legal or other expenses reasonably incurred by
the Company or any such director, officer or employee, the Trust or any Trustee or any such
controlling person in connection with investigating or defending or preparing to defend against any
such loss, claim, damage, liability or action as such expenses are incurred. The foregoing
indemnity agreement is in addition to any liability which the Remarketing Agent may otherwise have
to the Company or any such director, officer or employee, the Trust or any such Trustee or any such
controlling person.

          (c) Promptly after receipt by an indemnified party under this Section 7 of notice of any
claim or the commencement of any action, the indemnified party shall, if a claim in respect thereof
is to be made against the indemnifying party under this Section 7, notify the indemnifying party in
writing of the claim or the commencement of that action; provided however, that the failure to
notify the indemnifying party shall not relieve it from any liability which it may have under this
Section 7 except to the extent it has been materially prejudiced by such failure and, provided
further, that the failure to notify the indemnifying party shall not

23

 

relieve it from any liability which it may have to an indemnified party otherwise than under
this Section 7. If any such claim or action shall be brought against an indemnified party, and it
shall notify the indemnifying party thereof, the indemnifying party shall be entitled to
participate therein and, to the extent that it wishes, jointly with any other similarly notified
indemnifying party, to assume the defense thereof with counsel satisfactory to the indemnified
party. After notice from the indemnifying party to the indemnified party of its election to assume
the defense of such claim or action, the indemnifying party shall not be liable to the indemnified
party under this Section 7 for any legal or other expenses subsequently incurred by the indemnified
party in connection with the defense thereof other than reasonable costs of investigation; provided
however, the Remarketing Agent shall have the right to employ separate counsel to represent the
Remarketing Agent and its respective officers, employees and controlling persons who may be subject
to liability arising out of any claim in respect of which indemnity may be sought by the
Remarketing Agent against the Company under this Section 7 if, in the reasonable judgment of
counsel to the Remarketing Agent it is advisable for the Remarketing Agent, its officers, employees
and controlling persons to be jointly represented by separate counsel, due to the availability of
one or more legal defenses to them which are different from or additional to those available to the
indemnifying party, and in that event the reasonable fees and expenses of such separate counsel
shall be paid by the Company; provided further, that the Company shall not be liable for the fees
and expenses of more than one separate firm of attorneys (in addition to one local counsel in each
relevant jurisdiction) at any time for all such indemnified parties. No indemnifying party shall:

     (i) without the prior written consent of the indemnified parties (which
consent shall not be unreasonably withheld), settle or compromise or consent to the
entry of any judgment with respect to any pending or threatened claim, action, suit
or proceeding in respect of which indemnification or contribution may be sought
hereunder (whether or not the indemnified parties are actual or potential parties to
such claim or action) unless such settlement, compromise or consent includes an
unconditional release of each indemnified party from all liability arising out of
such claim, action, suit or proceeding, or

     (ii) be liable for any settlement of any such action effected without its
written consent (which consent shall not be unreasonably withheld), but if settled
with its written consent or if there be a final judgment of the plaintiff in any
such action, the indemnifying party agrees to indemnify and hold harmless any
indemnified party from and against any loss or liability by reason of such
settlement or judgment.

          (d) If the indemnification provided for in this Section 7 shall for any reason be
unavailable to or insufficient to hold harmless an indemnified party under Section 7(a), 7(b) or
7(c) in respect of any loss, claim, damage or liability, or any action in respect thereof, referred
to therein, other than to the extent that such indemnification is unavailable or insufficient due
to a failure to provide prompt notice in accordance with Section 7(c), then each indemnifying party
shall, in lieu of indemnifying such indemnified party, contribute to the amount paid or payable by
such indemnified party as a result of such loss, claim, damage or liability, or action in respect
thereof:

24

 

     (i) in such proportion as shall be appropriate to reflect the relative
benefits received by the Issuers on the one hand and the Remarketing Agent on the
other hand from the Remarketing; or

     (ii) if the allocation provided by clause (i) above is not permitted by
applicable law, in such proportion as is appropriate to reflect not only the
relative benefits referred to in clause (i) above but also the relative fault of the
Issuers on the one hand and the Remarketing Agent on the other with respect to the
statements or omissions or alleged statements or alleged omissions which resulted in
such loss, claim, damage or liability (or action in respect thereof) as well as any
other relevant equitable considerations.

The relative benefits received by the Issuers, on the one hand, and the Remarketing Agent, on the
other, with respect to such offering shall be deemed to be in the same proportion as the aggregate
Accreted Value of the Remarketing Securities as of the end of day on the day next preceding the
Remarketing Settlement Date less the fee paid to the Remarketing Agent pursuant to Section 4(a) and
less the expenses paid by the Company pursuant to Section 4(b), on the one hand, and the total fees
received by the Remarketing Agent pursuant to such Section 4(a), plus the expenses paid by the
Company pursuant to Section 4(b), on the other hand, bear to such aggregate Accreted Value of the
Remarketing Securities. The relative fault shall be determined by reference to whether the untrue
or alleged untrue statement of a material fact or omission or alleged omission to state a material
fact relates to information supplied by the Issuers on the one hand or the Remarketing Agent on the
other hand, the intent of the parties and their relative knowledge, access to information and
opportunity to correct or prevent such statement or omission. The Company and the Remarketing
Agent agree that it would not be just and equitable if the amount of contributions pursuant to this
Section 7(d) were to be determined by pro rata allocation or by any other method of allocation
which does not take into account the equitable considerations referred to herein. The amount paid
or payable by an indemnified party as a result of the loss, claim, damage or liability, or action
in respect thereof, referred to above in this Section 7(d) shall be deemed to include, for purposes
of this Section 7(d), any legal or other expenses reasonably incurred by such indemnified party in
connection with investigating or defending any such action or claim. Notwithstanding the
provisions of this Section 7(d), the Remarketing Agent shall not be required to contribute any
amount in excess of the total price at which Remarketing Securities distributed in the Remarketing
exceed the amount of any damages which the Remarketing Agent has otherwise paid or become liable to
pay by reason of any untrue or alleged untrue statement or omission or alleged omission. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation.

          Section 8. [Reserved]

          Section 9. Dealing in the Remarketing Securities. The Remarketing Agent, when acting
as a Remarketing Agent or in its individual or any other capacity, may, to the extent permitted by
law, buy, sell, hold and deal in any of the Remarketing Securities. The Remarketing Agent may to
the extent permitted by law exercise any vote or join in any action which any beneficial owner of
Remarketing Securities

25

 

may be entitled to exercise or take pursuant to the Trust Agreement or the Indenture with like
effect as if it did not act in any capacity hereunder. The Remarketing Agent, in its individual
capacity, either as principal or agent, may, to the extent permitted by law, also engage in or have
an interest in any financial or other transaction with the Issuers as freely as if it did not act
in any capacity hereunder.

          Section 10. Remarketing Agent’s Performance; Duty of Care. The duties and obligations of
the Remarketing Agent shall be determined solely by the express provisions of this Agreement, the
Trust Agreement and the Indenture. No implied covenants or obligations of or against the
Remarketing Agent shall be read into this Agreement, the Trust Agreement or the Indenture. In the
absence of bad faith on the part of the Remarketing Agent, the Remarketing Agent may conclusively
rely upon any document furnished to it, which purports to conform to the requirements of this
Agreement, the Trust Agreement or the Indenture as to the truth of the statements expressed in any
of such documents. The Remarketing Agent shall be protected in acting upon any document or
communication reasonably believed by it to have been signed, presented or made by the proper party
or parties. The Remarketing Agent, acting under this Agreement, shall incur no liability to the
Company or to any holder of Remarketing Securities in its individual capacity or as Remarketing
Agent for any action or failure to act, on its part in connection with a Remarketing or otherwise,
except if such liability is judicially determined to have resulted from the gross negligence or
willful misconduct on its part. The Remarketing Agent will be entitled to rely conclusively on any
determination by the Calculation Agent under the Calculation Agency Agreement, dated as of December
18, 2001 between the Company and Reinsel & Company LLP, as Calculation Agent, of the Accreted Value
or Discount relating to the Preferred Securities and Debentures, as applicable, and will incur no
liability to the Company or any holder of Remarketing Securities relating to inaccuracies in
calculating such Accreted Value or Discount.

          Section 11. Termination. This Agreement shall terminate (i) the Business Day immediately
following the Remarketing Settlement Date, (ii) at 5:00 p.m., New York City time, on the last date
of the Remarketing if the Remarketing is not successful or (iii) on the effective date of the
resignation or removal of the Remarketing Agent and the appointment of a new Remarketing Agent. In
addition, the obligations of the Remarketing Agent hereunder may be terminated by it by notice
given to the Company prior to 5:00 p.m. (New York City time) on the date immediately preceding the
Commencement Date if, prior to that time, any of the events described in Sections 6(i), (j) or (k)
shall have occurred.

          If this Agreement is terminated pursuant to any of the provisions hereof, except as otherwise
provided herein, the Company shall not be under any liability to the Remarketing Agent and the
Remarketing Agent shall not be under any liability to the Company, except that:

          (x) if this Agreement is terminated by the Remarketing Agent because of any failure or
refusal on the part of the Company to comply with the terms or to fulfill any of the
conditions of this Agreement, the Company will reimburse the Remarketing Agent

26

 

for all of its out-of-pocket expenses (including the fees and disbursements of its
counsel) reasonably incurred by it; and

          (y) if the Remarketing Agent failed or refused to perform its obligations hereunder,
without some reason sufficient hereunder to justify the cancellation or termination of its
obligations hereunder, the Remarketing Agent shall not be relieved of liability to the
Company for damages occasioned by its default and shall not be entitled to be reimbursed for
any expense.

          Section 12. Notices, etc.

          Notices given pursuant to any provision of this Agreement shall be
given in writing and shall be addressed as follows:

          (a) if to the Remarketing Agent, to Barclays Capital Inc., 745 Seventh Avenue, New York,
New York 10019, Attention: Syndicate Registration (Fax No.: 646-834-8133);

          with a copy to Simpson Thacher & Bartlett, 425 Lexington Avenue, New York, New York 10017,
Attention: Gary I. Horowitz, Esq. (Fax No.: 212-455-2502).; and

          (b) if to the Company or to the Trust, to 1370 Timberlake Manor Parkway, Chesterfield,
Missouri 63017, Attention: Jack B. Lay, Executive Vice President and Chief Financial Officer (Fax
No.: 636-736-7839), with a copy to William L. Hutton, Esq., Senior Vice President General Counsel
and Secretary, at the same address (Fax No.: 636-736-7739); and

          with a copy to Bryan Cave LLP, One Metropolitan Square, 211 North Broadway, Suite 3600, St.
Louis, Missouri 63102, Attention: R. Randall Wang, Esq. (Fax No.: 314-552-8149);

or in any case to such other address as the person to be notified may have requested in writing.
Any such statements, requests, notices or agreements shall take effect at the time of receipt
thereof.

          Section 13. Persons Entitled to Benefit of Agreement. This Agreement shall inure to the
benefit of and be binding upon the Remarketing Agent, the Company, the Trust and their respective
successors. This Agreement and the terms and provisions hereof are for the sole benefit of only
those persons, except that (A) the representations, warranties, indemnities and agreements of the
Issuers contained in this Agreement shall also be deemed to be for the benefit of the officers,
directors and employees of the Remarketing Agent and the person or persons, if any, who control the
Remarketing Agent within the meaning of Section 15 of the Securities Act; and (B) any indemnity
agreement of the Remarketing Agent contained in this Agreement shall be deemed to be for the
benefit of directors, trustees, officers and employees of the Company, and the Trust, and any
person controlling the Company or the Trust within the meaning of Section 15 of the Securities Act.
Nothing contained in this Agreement is intended or shall be construed to give any person, other
than the persons referred to in this Section 13, any legal or equitable right, remedy or claim
under or in respect of this Agreement or any provision contained herein.

27

 

          Section 14. Survival. The respective indemnities, representations, warranties and
agreements of the Issuers and the Remarketing Agent contained in this Agreement or made by or on
behalf of them, respectively, pursuant to this Agreement, shall survive the Remarketing and shall
remain in full force and effect, regardless of any termination or cancellation of this Agreement or
any investigation made by or on behalf of any of them or any person controlling any of them.

          Section 15. Definition of the term “Business Day”. For purposes of this Agreement,
“business day” means any day on which the New York Stock Exchange is open for trading.

          Section 16. Governing Law. This Agreement shall be governed by, and construed in
accordance with, the laws of the State of New York.

          Section 17. Counterparts. This Agreement may be executed in one or more counterparts and,
if executed in more than one counterpart, the executed counterparts shall each be deemed to be an
original but all such counterparts shall together constitute one and the same instrument.

          Section 18. Headings; Interpretation. The headings herein are inserted for convenience of
reference only and are not intended to be part of, or to affect the meaning or interpretation of,
this Agreement. Any reference herein to an agreement entered into in connection with the issuance
of securities contemplated therein as of the date hereof shall mean such agreement as it may be
amended, modified or supplemented in accordance with its terms.

          Section 19. Amendment; Intention of Parties. This Agreement may be amended by any written
instrument (including by an amendment and restatement hereof) at any time after the date hereof by
the parties hereto.

          The Company acknowledges and agrees that the Remarketing Agent is acting solely in the
capacity of an arm’s length contractual counterparty to the Company with respect to the Remarketing
contemplated hereby (including in connection with determining the terms of the Remarketing) and not
as a financial advisor or a fiduciary to, or an agent of, the Company or any other person.
Additionally, the Remarketing Agent is not advising the Company or any other person as to any
legal, tax, investment, accounting or regulatory matters in any jurisdiction. The Company shall
consult with its own advisors concerning such matters and shall be responsible for making its own
independent investigation and appraisal of the transactions contemplated hereby, and the
Remarketing Agent shall have no responsibility or liability to the Company with respect thereto.
Any review by the Remarketing Agent of the Company, the transactions

28

 

contemplated hereby or other matters relating to such transactions will be performed solely
for the benefit of the Remarketing Agent and shall not be on behalf of the Company.

[The rest of this page has been left blank intentionally; the signature page follows.]

29

 

If the foregoing correctly sets forth the agreement among the Company, the Trust and the
Remarketing Agent, please indicate your acceptance in the space provided for that purpose below.

	 	 	 	 	 
	 	Very truly yours,

REINSURANCE GROUP OF AMERICA,

INCORPORATED

 	 
	 	By:  	/s/ Todd C. Larson
 	 
	 	 	Name:  	Todd C. Larson 	 
	 	 	Title:  	EVP, Corporate Finance
&Treasurer 	 
	 
	 	RGA CAPITAL TRUST I

 	 
	 	By:  	/s/ Todd C. Larson
 	 
	 	 	Name:  	Todd C. Larson 	 
	 	 	Title:  	Administrative Trustee 	 
	 

	 	 	 	 	 
	BARCLAYS CAPITAL INC.

 	 	 
	By:  	/s/ Gary Antenberg
 	 	 
	 	Authorized Representative 	 	 
	 	 	 	 
	 

30

 

SCHEDULE 1

Issuer Free Writing Prospectus dated March [1], 2011

Filed pursuant to Rule 433(d)

Relating to

Preliminary Prospectus Supplement dated February [16], 2011

Registration Statement Nos. 333-172296 and 333-172296-01

Term Sheet

Remarketing Preferred Securities of RGA Capital Trust I

	 	 	 

	Issuer:

	 	RGA Capital Trust 1
	 
	 	 
	Securities Remarketed:

	 	$___ Remarketed Preferred Securities
	 
	 	 
	Maturity Date:

	 	June [5], 2011
	 
	 	 
	Pricing Date:

	 	March [1], 2011
	 
	 	 
	Settlement Date:

	 	March [4], 2010
	 
	 	 
	Distribution Rate:

	 	___% per annum
	 
	 	 
	Distribution Dates:

	 	March 15, 2011 for the period from the settlement date to and including March 14, 2011 and June
6, 2011 for the period from March 15, 2011 to and including June 4, 2011.
	 
	 	 
	Security Ratings (Expected)*:

	 	 ___(Moody’s) /  ___(S&P) /  ___(A.M. Best)
	 
	 	 
	Guarantee:

	 	Reinsurance Group of America, Incorporated has guaranteed payment of distributions to the extent
described in the prospectus supplement and prospectus
	 
	 	 
	Deferral of Distributions:

	 	None
	 
	 	 
	CUSIP:

	 	74956T 20 4
	 
	 	 
	Remarketing Agent:

	 	Barclays Capital Inc.

 

			
	*	 	An explanation of the significance of ratings may be obtained from the rating agencies. Generally,
rating agencies base their ratings on such material and information, and such of their own
investigations, studies and assumptions, as they deem appropriate. The rating of the notes should
be evaluated independently from similar ratings of other securities. A credit rating of a security
is not a recommendation to buy, sell or hold securities and may be subject to review, revision,
suspension, reduction or withdrawal at any time. by the assigning rating agency

 

 

The Issuers (Reinsurance Group of America, Incorporated and RGA Capital Trust I) have filed a
registration statement, including a prospectus, which consists of a preliminary prospectus
supplement, dated February 16, 2011 and an attached prospectus dated February 15, 2011, with the
Securities and Exchange Commission for the remarketing to which this communication relates. Before
you invest, you should read the prospectus in that registration statement, the prospectus
supplement and other documents the Issuers have filed with the SEC for more complete information
about the Issuers and this remarketing. You may get these documents for free by visiting EDGAR on
the SEC website at www.sec.gov. Alternatively, the Issuers or the Remarketing Agent will arrange
to send you the prospectus if you request by calling Barclays Capital toll free at 1-888-603-5847.

Any disclaimer or other notice that may appear below is not applicable to this communication and
should be disregarded. Such disclaimer or notice was automatically generated as a result of this
communication being sent by Bloomberg or another email system.

2

 

SCHEDULE 2

SUBSIDIARIES OF

REINSURANCE GROUP OF AMERICA, INCORPORATED

Manor Reinsurance, Ltd., Barbados corporation owned by RGA Reinsurance Company

Parkway Reinsurance Company, Missouri corporation

Reinsurance Company of Missouri, Incorporated, Missouri corporation

RGA Americas Reinsurance Company, Ltd., Barbados corporation

RGA Atlantic Reinsurance Company, Ltd., Barbados corporation

RGA Australian Holdings Pty, Limited, Australian corporation

RGA Capital Limited, United Kingdom corporation

RGA Capital Trust I, Delaware statutory business trust
RGA Financial Group, L.L.C. — 55% owned by RGA Reinsurance Company (Barbados) Ltd. and 45% owned by Reinsurance Group of America, Incorporated

RGA Global Reinsurance Company, Ltd., Bermuda corporation

RGA Holdings Limited, United Kingdom corporation

RGA International Corporation (Nova Scotia ULC)

RGA International Division Sydney Office Pty. Ltd, Australian corporation

RGA International Reinsurance Company Limited, Ireland corporation

RGA International Services Pty Ltd., Australian corporation

RGA Life Reinsurance Company of Canada, Federal corporation

RGA Reinsurance (UK) Limited, United Kingdom corporation

RGA Reinsurance Company (Barbados) Ltd., Barbados corporation

RGA Reinsurance Company of Australia Limited, Australian corporation

RGA Reinsurance Company of South Africa, Limited, South African corporation

RGA Reinsurance Company, Missouri corporation

RGA Services (Singapore) Pte Ltd., a Singapore corporation

RGA Services India Private Limited, Indian corporation

RGA South African Holdings (Pty) Limited, South African corporation

RGA Technology Partners, Inc., Missouri corporation

RGA UK Services Limited (formerly RGA Managing Agency Limited, United Kingdom corporation)

RGA Worldwide Reinsurance Company, Ltd., Barbados corporation

Rockwood Reinsurance Company, a Missouri corporation

Timberlake Financial, L.L.C., Delaware corporation

Timberlake Reinsurance Company II, South Carolina corporation

 

 

SCHEDULE 3

JURISDICTIONS OF FOREIGN QUALIFICATION

RGA Reinsurance Company:

Alabama

California

Colorado

Florida

Virginia

RGA Life Reinsurance Company of Canada:

British Columbiaexv10w2xiy

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

Exhibit 10.2(i)

AMENDED AND RESTATED RESEARCH,

DEVELOPMENT AND MARKETING

COLLABORATION AGREEMENT

     This Amended and Restated Research, Development and Marketing Collaboration Agreement
(the “Agreement”) is made and entered into by and between Onyx Pharmaceuticals, Inc., a
California corporation located at 3031 Research Drive, Richmond, California 94806 (“Onyx”), and
Warner-Lambert Company, a Delaware corporation located at 201 Tabor Road, Morris Plains,
New Jersey 07950 (“Warner”). This Agreement is executed on July 31, 1997 but is deemed by the
parties to be effective as of May 2, 1995 and shall supersede and replace the original Research,
Development and Marketing Agreement between Onyx and Warner dated as of May 2, 1995.

WITNESSETH:

     Whereas, Onyx and Warner each has certain expertise in the discovery and development
of agents acting in the field of cell cycle control; and

     Whereas, Warner and Onyx each wish to enter into a collaborative effort to share such
expertise, to develop new expertise in the field of cell cycle control, to research together
potential applications thereof and, if successful, to market certain of such applications (the
“Collaboration”); and

     Whereas, Warner and Onyx entered into that certain Research, Development and
Marketing Agreement dated as of May 2, 1995, and they now wish to amend and restate the terms of
such agreement by entering into this Agreement, thereby superseding and replacing such earlier
agreement;

     Now, Therefore, in consideration of the foregoing premises and the mutual promises,
covenants and conditions contained herein, Onyx and Warner agree as follows:

Article 1

Definitions

1.

 

     The following capitalized terms shall have the meanings indicated for purposes of this
Agreement:

     “Affiliate” shall mean any corporation, association or other entity which directly or
indirectly controls, is controlled by or is under common control with the party in question. As
used herein the term “control” means possession of the power to direct, or cause the direction of,
the management and policies of a corporation, association or other entity.

     “Collaboration Compound” shall mean any compound identified by either party during the
Research Term or one year thereafter as showing sufficient activity against targets in the Field
identified by the Research Management Committee in assays contributed to or developed under the
Collaboration such that further research on such compound for such target is pursued, and any
analogs or derivatives of such compounds whenever identified.

     “Collaboration Lead Compound” shall mean any Collaboration Compound selected by Warner for
further development as provided in Section 5.1.

     “Collaboration Product” shall mean any Collaboration Lead Compound for which an IND or foreign
equivalent application has been filed, as provided in Section 5.2.

     “Collaboration Product Exclusive Period” shall have the meaning set forth in Section 5.3.

     “Co-Promotion Country” shall mean the United States of America and its territories and
possessions, including the Commonwealth of Puerto Rico.

     “Effective Date” shall mean May 2, 1995.

     “FDA” shall mean the United States Food and Drug Administration.

     “Field” shall mean research, drug discovery and development collaboration aimed at therapeutic
agents to restore control of, or otherwise intervene in, misregulated cell cycle transitions in
tumor cells, vascular smooth muscle cells, or other pathological conditions, in each case insofar
as it relates to the targets listed below. Such agents may restore growth control and/or result in
death of cells with aberrant control.

The Collaboration will seek to identify agents that modulate biological targets within the Field.
The Collaboration will include all therapeutic benefits of such agents.

The Field will consist initially of [*] The Field shall also include the [*] The Field will also
include [*]

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

2.

 

The parties may agree during the Term of the Research Collaboration to expand the Field by
designating additional targets, and it is their intention to do so in the event logical extensions
of the Field are identified and may be accommodated within the resource commitment of the parties.
Such expansion will be in writing signed by all members of the Research Development Committee.
However, neither party shall be obligated to agree to expand the Field.

Notwithstanding the general description of the Field provided above, the Field will exclude:

          (a) All molecular entitles that are part of or that regulate [*] This includes but is not
restricted to [*] This also includes molecules that directly or indirectly regulate the
aforementioned molecules, [*] This also includes [*] This exception shall not include (by way of
example and not limitation) [*]

     [*] shall mean therapeutics where the active agent is [*] [*] specifically excludes [*]

     “IND” shall mean an Investigational New Drug Application.

     “Invention” shall mean any invention, idea, data, know-how or material that is discovered or
reduced to practice during the Term of this Agreement [*] and that relates to the discovery,
design, synthesis, delivery, development, testing, use, manufacture or sale of agents acting in the
Field.

     “Know-How” shall mean Onyx Know-How and/or Warner Know-How, as the case may be.

     “MHW” shall mean the Ministry of Health and Welfare of Japan.

     “NDA” shall mean a New Drug Application.

     “Net Sales” shall mean the gross amount invoiced by a party hereto or one of its Affiliates to
customers who are not Affiliates of the selling party for all Products sold to
such customers, less the following deductions calculated in accordance with United States
generally accepted accounting principles and Warner’s (or Onyx’s, as the case may be) normal
internal accounting standards consistently applied: (i) trade, quantity and cash discounts or
rebates; (ii) credits, rebates, charge-back rebates, reimbursements or similar payments granted or
given to wholesalers and other distributors, buying groups, healthcare insurance carriers,
governmental agencies and other institutions, provided that such provisions will not grant a
preference or otherwise favor other products of Warner or Onyx, as the case may be, if based on the
fact that a royalty may be payable hereunder; (iii) credits or allowances for rejection or return
of such Product previously sold; (iv) any

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

3.

 

tax, tariff, duty or other governmental charge (other than an income tax) levied on the sale,
transportation or delivery of a Product and borne by the seller thereof; (v) payments or rebates
paid in connection with state or federal Medicare, Medicaid or similar programs; (vi) any charge
for freight or insurance; and (vii) allowance for bad debt expense. Any such deductions, if not
for amounts actually incurred or allowed with respect to the specific Products sold, shall be no
greater than the pro rata amount allocable to such Product, based on the invoices for similar
pharmaceutical products sold by the selling party, of the total amount of such deductions allowed
or incurred for all such similar products. In the event that the selling party recognizes revenue
due to excess balance sheet reserves associated with the net sales deductions described above, the
pro rata amount of such revenue allocable to the Product shall be deemed Net Sales hereunder, at
the time such revenue is recognized.

     “Onyx Know-How” shall mean all technology, inventions, information, data, know-how, compounds
and materials that (i) are not Onyx Patents, (ii) Onyx owns or otherwise has the right to license
to Warner and (iii) relate to the discovery, design, synthesis, delivery, development, testing,
use, manufacture or sale of agents with activity in the Field. Excluded from “Onyx Know-How” are
compounds and information relating to compounds that have been identified by Onyx as candidates for
cGLP/cGMP studies on or before the Effective Date, or are hereafter so identified without material
application of information provided by Warner or developed by either party pursuant to the
Collaboration.

     “Onyx Lead Compound” shall mean a Collaboration Compound that Onyx obtains the right to
develop independently as provided in Section 5.3.

     “Onyx Patents” shall mean all United States and foreign patents that are owned by Onyx or that
Onyx otherwise has the right to license to Warner and that relate to the discovery, design,
synthesis, delivery, development, testing, use, manufacture or sale of agents with activity in the
Field, including, without limitation, all reissues, extensions, substitutions, confirmations,
registrations, revalidations, additions, continuations, continuations-in-part, and divisions
thereof. Excluded from “Onyx Patents” are patents and patent applications that claim compounds and
information relating to compounds that have been identified by Onyx as candidates for cGLP/cGMP
studies on or before the Effective Date, or are hereafter so identified without material
application of information provided by Warner or developed pursuant to the Collaboration.

     “Onyx Product” shall have the meaning set forth in Section 5.3.

     “Onyx Product Exclusive Period” shall have the meaning set forth in Section 5.4.

     “Patents” shall mean, Onyx Patents and/or Warner Patents, as the case may be.

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

4.

 

     “Products” shall mean Collaboration Products and/or Onyx Products, as applicable.

     “Research Management Committee” shall mean that entity organized and acting pursuant to
Section 3.1.

     “Research Plan” shall have the meaning set forth in Section 2.1.

     “Term of Co-Promotion” for a Collaboration Product shall mean the period beginning upon the
first commercial sale of a Collaboration Product in the Co-Promotion Country and [*]

     “Term of this Agreement” shall mean the period from the Effective Date until the expiration of
all licenses granted pursuant to this Agreement or until this Agreement is otherwise terminated
pursuant to its terms.

     “Term of the Research Collaboration” shall have the meaning set forth in Section 1.3.

     “Warner Know-How” shall mean all technology, inventions, information, data, know-how,
compounds and materials that (i) are not Warner Patents, (ii) Warner owns or otherwise has the
right to license to Onyx and (iii) relate to the discovery, design, synthesis, delivery,
development, testing, use, manufacture or sale of agents with activity in the Field. Excluded from
“Warner Know-How” are (i) Warner’s high-volume screening technology and (ii) compounds and
information relating to compounds that have been identified by Warner as candidates for cGLP/cGMP
studies on or before the Effective Date, or are hereafter so identified without material
application of information provided by Onyx or developed by either party pursuant to the
Collaboration.

     “Warner Patents” shall mean all United States and foreign patents that are owned by Warner or
that Warner otherwise has the right to license to Onyx and that relate to the discovery, design,
synthesis, delivery, development, testing, use, manufacture or sale of agents with activity in the
Field, including, without limitation, all reissues, extensions, substitutions, confirmations,
registrations, revalidations, additions, continuations, continuations-in-part, and divisions
thereof. Excluded from “Warner Patents” are patents and patent applications that claim (i)
Warner’s high volume screen technology and (ii) compounds and information relating to compounds
that have been identified by Warner as candidates for cGLP/cGMP studies on or before the Effective
Date, or are hereafter so identified without material application of information provided by Onyx
or developed pursuant to the Collaboration.

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

5.

 

Article 2

Research Program

     2.1 Undertaking and Scope. From time to time the Research Management Committee will agree on
the general direction of the research to be performed hereunder. The correspondence and other
material documenting such agreement are collectively referred to herein as the “Research Plan.”
Each party agrees to use its best efforts to perform the activities detailed in the Research Plan,
in a professional and timely manner. Onyx agrees to use its best efforts at its cost [*] to (i)
develop and transfer to Warner [*] screening assays [*] of the Term of the Research Collaboration
for specific targets in the Field selected by the Research Management Committee, (ii) supply
protein required to run such screens and (iii) provide for the testing of substantially all of
Onyx’s compound library in such screens. Onyx shall not knowingly provide or perform research on
any compounds the use of which would require a royalty or other payment to any third party, unless
the Research Management Committee agrees that such compound should be provided and the parties
agree in writing how such royalty or other payment will be paid. Warner agrees to use its best
efforts at its cost (including the cost of any royalties or other amounts payable by Warner to
third parties) to (i) screen substantially all of its compound library with such screens provided
by Onyx and (ii) conduct medicinal chemistry and animal pharmacology as the Research Management
Committee deems appropriate. Promptly after the Effective Date, Onyx and Warner will disclose to
each other all information possessed by it relevant to the Field and necessary or helpful to
perform the work described in the Research Plan (except to the extent precluded by the pre-existing
confidentiality obligations described on Schedule 1 hereto). During the Term of the Research
Collaboration, or one year thereafter, the Research Management Committee and either party
individually may from time to time declare any compound that meets the definition therefor in
Article 1 to be a Collaboration Compound. Notwithstanding the foregoing, neither party will be
required to offer the other party any compounds or information relating to compounds that have been
identified as candidates for cGLP/cGMP studies on or before the Effective Date, or are hereafter so
identified without material application of information provided by the other party or developed
pursuant to the Collaboration. Neither party shall be required to screen under this Collaboration
or to offer to the other party any information regarding any compounds identified as having
activity in pathways expressly excluded from the Field, if so identified prior to being designated
a “Collaboration Compound” hereunder.

     2.2 Personnel and Resources. Each party agrees to commit the personnel, facilities, expertise
and
other resources needed to perform this Agreement in accordance with its terms; provided,
however, that neither party warrants that the Collaboration shall achieve any of the research
objectives contemplated by them. During the Term of the Research Collaboration, Warner and Onyx
will each maintain at its cost an average of 15

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

6.

 

full-time equivalents (“FTEs”) devoted to cooperative work under the Research Plan. During
the first-year of the Term of the Research Collaboration Warner need maintain only 10 such FTEs;
provided however, that Warner will staff at higher levels in later periods to achieve an average of
15 FTEs during the Term of the Research Collaboration, unless such term is terminated early as
permitted hereunder. The scientific priorities and direction of such staff of both parties will be
determined by the Research Management Committee. Such staff will include, as appropriate,
scientists in the areas of mass screening, molecular biology, biochemistry, biochemical
pharmacology, cancer and cardiovascular pharmacology, synthetic chemistry (including peptide
synthesis), computer-assisted drug design, and analytical chemistry (e.g., NMR spectroscopy).

     2.3 Term of the Research Collaboration. Work under the Research Plan will commence as of the
date of this Agreement and, unless terminated earlier by either party pursuant to the terms of this
Agreement or extended by mutual agreement of the parties, will terminate on the third anniversary
hereafter (as terminated, expired or extended, the “Term of the Research Collaboration”).

     2.4 Rights to Know-How and Patents for Research. Each party hereby grants and agrees to grant
to the other a non-exclusive, royalty-free license to use such party’s Know-How and Patents that
are conceived or reduced to practice prior to the [*] anniversary of the end of the Term of the
Research Collaboration for (a) research and development purposes in the Field and (b), beginning
[*] after termination of the Term of the Research Collaboration, research and development outside
of the Field; provided, however, that the granting party may terminate such licenses granted by it
immediately upon its termination of this Agreement for cause. Notwithstanding the foregoing,
neither party is granted any interest in the other’s compounds (or analogs or derivatives thereof)
except as specifically set forth in this Agreement. In the event that one party does
nonetheless conceive or reduce to practice any invention that is comprised of the other
party’s compound (or analog or derivative thereof) and if such invention is not in the Field, such
party will promptly assign its entire interest therein exclusively to the other party without
charge and will not be entitled to any milestones, royalties or other consideration in connection
therewith.

     2.5 Collaboration Expenses. [*] the costs and expenses of work done pursuant to the
Collaboration at [*]

     2.6 New Zealand Research Work. Onyx acknowledges that Warner has amended its existing
agreement with the Auckland Division, Cancer Society of New Zealand, Inc. (“CSNZ”), dated December
15, 1988 (as amended, the “Warner/CSNZ Agreement”), to expand the field of research to be jointly
conducted by Warner and CSNZ to include the research in the cell cycle field which is the focus of
the collaborative research project being conducted pursuant to this Agreement. Onyx is

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

7.

 

willing to permit Warner to conduct such research under the Warner/CSNZ Agreement, subject to
the following terms:

     (a) As used in this Section 2.6, the term “Additional Research” shall have the meaning
set forth in Section 1.04a of the Warner/CSNZ Agreement.

     (b) The term “Collaboration Compounds” as used in this Agreement shall also include any
compounds identified as a result of the Additional Research conducted by CSNZ or Warner in
collaboration with CSNZ pursuant to the Warner/CSNZ Agreement. Any work performed by CSNZ
and Warner under such Additional Research shall be considered to be work performed by the
parties pursuant to this Agreement.

     (c) For the avoidance of doubt, and notwithstanding any other interpretation of the
Agreement, Warner and Onyx hereby agree that the royalties payable by Warner under Section
6.3 shall not be reduced by any royalty or other payments payable by Warner to CSNZ pursuant
to the Warner/CSNZ Agreement, whether by offset, credit or otherwise.

Article 3

Committees

     3.1 Research Management Committee. Warner and Onyx will each appoint up to 4 representatives
to a research management committee (the “Research Management Committee”), which will oversee the
operational aspects of performing the Research Plan. The Research Management Committee will assure
that agendas and minutes are prepared for each of its meetings. The personnel, facilities,
expertise and other resources of each party to be used in performance of the Research Plan shall be
established by the Research Management Committee. The Research Management Committee will meet
quarterly, or more frequently if mutually agreed. Warner’s and Onyx’s initial representatives to
the Research Management Committee will be appointed by each of them promptly after the date of this
Agreement. All actions taken and decisions made by the Research Management Committee shall be by
unanimous agreement. A party may change any of its appointments to the Research Management
Committee at any time upon giving written notice to the other party.

     3.2 Marketing Committee. At the time that Warner appoints a committee to plan the marketing
of a Collaboration Product (the “Marketing Committee”), it shall promptly inform Onyx and for
so long as Onyx has the right to co-promote such Collaboration Product, Onyx shall have the
authority to appoint one of its employees as a non-voting member of such committee. Onyx’s
non-voting member of the Marketing Committee will have the right to attend all meetings of the
Marketing Committee and will

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

8.

 

be kept current on the plans and proceedings of the Marketing Committee. All actions taken
and decisions made by the Marketing Committee shall be under the direction and control of Warner.
A party may change any of its appointments to the Marketing Committee at any time upon giving
written notice to the other party.

     3.3 Meetings. The Research Management Committee and the Marketing Committee may meet by
telephone or in person at such times as are agreeable to the members of each such committee.
Attendance at meetings shall be at the respective expense of the participating parties. Warner and
Onyx shall alternate the right to determine the location of each meeting of the Research Management
Committee, with Onyx determining the location of the first meeting of such committee. Warner shall
determine the location of all meetings of the Marketing Committee.

     3.4 SAB Attendance. During the Term of this Agreement, Warner will be entitled to have up to
three of its representatives attend all meetings of Onyx’s Scientific Advisory Board that relate
directly to the Field and such other general symposia that do not contain confidential information
outside the Field of Onyx or of any third party to which Onyx owes a duty of confidentiality that
would be breached by Warner’s attendance. Onyx will provide Warner reasonable advance notice of
all such meetings and will provide Warner copies of all written material given to the members of
the Scientific Advisory Board in connection with such meetings. Attendance at such meetings by
Warner’s representatives will be at Warner’s expense. As a condition of such attendance and access
to such written material, Warner will execute appropriate confidentiality agreements with respect
to information disclosed at such meetings and in such written material.

Article 4

Patents, Know-How, Rights and Inventions

     4.1 Rights to Inventions.

          (a) Ownership of all Inventions and any other technology, information, data, know-how,
compounds and material developed, discovered or made hereunder shall be determined in accordance
with United States laws of inventorship. The owner (the “Inventor”) of any Invention shall have
the right, at its option and expense, to prepare, file
and prosecute in its own name any patent applications with respect to any Invention owned by
it and to maintain any patents issued. In connection therewith, the non-Inventor party agrees to
cooperate with the Inventor at the Inventor’s expense in the preparation and prosecution of all
such patent applications and in the maintenance of any patents issued. This obligation shall
survive the expiration or termination of this Agreement.

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

9.

 

          (b) The parties will co-own technology, inventions, information, data, know-how,
compounds and materials (whether or not patentable) that relate to [*] and that are developed in
connection with performance of the Research Plan (“[*] Inventions”). The parties will cooperate in
the joint filing of patent applications claiming [*] Inventions. The parties will negotiate in
good faith regarding the collaborative commercial exploitation of the [*] Inventions; provided,
however, that each party will retain an undivided ownership interest in the [*] Inventions and will
be free to exploit the same without obligation to the other party.

     4.2 Joint Inventions. Inventions that are jointly invented by Onyx and Warner will be jointly
owned by them; however, [*] will have the rights and responsibilities of the “Inventor” as
described in this Article 4 in respect of any such patentable, jointly owned Inventions and [*]
shall have the rights and responsibilities of a non-Inventor therein. [*] shall pay all expenses
in connection with its preparation, filing and prosecution of patent applications that claim
patentable, jointly owned Inventions. [*] shall from time to time notify [*] of the amount of such
expenses and [*] shall promptly thereafter pay [*] of its out-of-pocket expenses. As used in the
preceding sentence “out-of-pocket expenses” shall mean direct costs, excluding internal labor
costs. Onyx may elect in writing to disclaim all interest in any jointly invented Invention, in
which case (i) such Invention will be solely owned by Warner and Onyx will co-operate to assure
Warner’s sole ownership, (ii) Onyx will have no further interest in such Invention, by ownership,
license or otherwise and (iii) [*] the date that Warner receives Onyx’s written disclaimer. Warner
may elect in writing to disclaim all interest in any jointly invented Inventions, in which case (i)
such Invention will be solely owned by Onyx and Warner will co-operate to assure Onyx’s sole
ownership, (ii) Warner will have no further interest in such Invention, by ownership, license or
otherwise and (iii) [*]

     4.3 Protection of Patent Rights. (a) The Inventor shall keep the other party currently
informed of all steps to be taken in the preparation, prosecution and maintenance of all of its
patents and patent applications which claim an Invention and shall furnish the other party with
copies of patents and applications, amendments thereto and other related correspondence relating to
such Invention to and from patent offices and permit the other party to offer its comments thereon
before the Inventor makes a submission to a patent office which could materially affect the scope
or validity of the patent coverage that may result. The non-Inventor party shall offer its
comments promptly. Onyx and Warner shall each promptly notify the other of any infringement and/or
unauthorized use of an Invention which comes to its attention.

          (b) The non-Inventor party may request in writing that the Inventor take specific, reasonable
actions to (i) prepare, file or prosecute a patent application with respect to an Invention, (ii)
maintain any patents issued with respect to an Invention, (iii) protect against abandonment of a
patent or application which claims an Invention or (iv)

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

10.

 

obtain a discontinuance of an infringement or unauthorized use of such patent or application.
If such actions are not undertaken within thirty days of the Inventor’s receipt of such written
request and timely pursued thereafter, the Inventor shall permit, and the non-Inventor party at its
option and expense may undertake, such actions. The party not undertaking such actions shall fully
cooperate with the other party and shall provide to the other party whatever assignments and other
documents that may be needed in connection therewith. The party not undertaking such actions may
require a suitable indemnity against all damages, costs and expenses and impose such other
reasonable conditions as such party’s advisors may require.

          (c) If either party commences any actions or proceedings (legal or otherwise) pursuant to this
Section, it shall prosecute the same vigorously at its expense and shall not abandon or compromise
them or fail to exercise any rights of appeal without giving the other party the right to take over
their conduct at its own expense. The party finally conducting legal actions or proceedings
against an alleged infringer or other party shall be entitled to any damages or costs awarded
against such infringer or other party.

     4.4 Allegations of Infringement by Third Parties. In the event that Warner or Onyx receives
notice that any action by either of them under this Agreement is alleged to be a violation of the
patent or other intellectual property rights of a third party, it shall notify the other party to
this Agreement, and they shall jointly determine an appropriate response and course of action. The
costs of such defense, and any damages, costs or expenses resulting from such action, shall be paid
[*] The Research Management Committee will decide whether or not to continue any activity
following notice that such activity may be a violation of the patent or other intellectual property
rights of a third party.

Article 5

Designation of Lead Compounds and Marketing Rights

     5.1 Designation of Lead Compound. From time to time, Warner may formally designate one or
more Collaboration Compounds for further development, and such designated compounds shall be deemed
Collaboration Lead Compounds. Such designation shall be made under Warner’s then current standards
for declaring one of its own compounds a “lead compound.” Such designation generally indicates
that Warner has identified such
compound as a candidate for cGLP/cGMP studies. Warner will pursue the research and development
of each Collaboration Lead Compound at its own expense and under its sole direction. Warner will
provide Onyx quarterly, written updates regarding the status of each Collaboration Lead Compound.

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

11.

 

     5.2 Collaboration Product. Each Collaboration Lead Compound shall be referred to herein
as a “Collaboration Product” from and after filing of an IND in respect of such compound with the
FDA or the filing of its equivalent in any foreign country other than Japan. The preparation,
filing and prosecution of IND’s, NDA’s and other regulatory filings required to be filed with the
FDA and its foreign equivalents (other than in Japan) in regard to any Collaboration Product will
be at the sole expense of, in the name of and under the direction of Warner. Warner does not
warrant that any regulatory filings will actually be filed or, if filed, will be approved.

     5.3 Independent Development. From time to time, Onyx may request Warner in writing to
undertake specific research and development regarding a Collaboration Compound or to declare a
Collaboration Compound to be a Collaboration Lead Compound. Warner will notify Onyx within [*] of
receiving Onyx’s written request if it determines before such date that it will not undertake such
specific research and development (or declare such Collaboration Compound to be a Collaboration
Lead Compound) within [*] of such request (“Warner’s Notice to Decline”). If Warner does not so
notify Onyx within such [*] period, it will periodically review Onyx’s request and if it determines
not to undertake such specific research and development (or declare such Collaboration Compound to
be a Collaboration Lead Compound) then it shall promptly so notify Onyx (also, “Warner’s Notice to
Decline”). After either (i) receipt of Warner’s Notice to Decline, or (ii) if Warner does not so
notify Onyx and if Warner does not itself undertake the requested action within [*] of Onyx’s
written request, then the date [*] after Warner’s receipt of Onyx’s written request, then Onyx
shall undertake continued research and development (including the specific research and development
requested by Onyx in its request to Warner) of such Collaboration Compound independently (an “Onyx
Lead Compound”), at its sole cost and under its sole direction. Onyx may not utilize the services
of the personnel committed to the Collaboration pursuant to Section 2.2 in performance of research
or development of an Onyx Lead Compound. Onyx may declare no more than [*] Onyx Lead Compounds
during the Term of this Agreement. Onyx will keep Warner currently informed of all material
information in its research and development of each Onyx Lead Compound and will allow Warner to
comment on the direction of such research and development. Each Onyx Lead Compound is referred to
herein as an “Onyx Product” from and after filing of an IND in respect of such compound with the
FDA or the filing of its equivalent in any foreign country other than Japan. Onyx will provide
Warner a complete and accurate copy of the proposed filing, together with any additional
information that Warner may request regarding the relevant Onyx Lead Compound, at least [*] prior
to submitting such filing to the FDA or its foreign equivalent. Onyx will be entitled to
commercialize any Onyx Product at its sole direction, alone or with another partner, subject to
Section 5.4 and the other terms of this Agreement.

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

12.

 

     5.4 Warner’s Re-engagement Option. Warner may elect in writing to Onyx to resume the
research and development of an Onyx Lead Compound at its own cost and under its sole direction at
any time prior to [*] in respect of such compound. In such event, such Onyx Lead Compound shall
immediately become a Collaboration Lead Compound for all purposes under this Agreement. Promptly
after Warner makes such election, Warner will pay Onyx [*] Onyx’s costs incurred for research and
development of such Onyx Lead Compound. For purposes of this Section, Onyx’s cost for research and
development will mean (i) Onyx’s “Burdened Cost” (as defined below) for each professional research
and development FTE (not including the personnel committed to the Collaboration pursuant to Section
1.2) dedicated to the research and development of such Onyx Lead Compounds (with appropriate
adjustment for staff members not fully dedicated to such work or not working a full year) and (ii)
payments made to unaffiliated third parties, each to the extent incurred in connection with the
relevant compound on or after its declaration as an Onyx Lead Compound and to the extent reasonably
supported by invoices, time sheets or other appropriate records. The “Burdened Cost” for each Onyx
FTE shall mean [*] for work performed during 1995, and will be revised for work performed during
each succeeding calendar year by the change in the Consumer Price Index (as determined by the
United States of America Department of Labor) during the preceding calendar year (except that the
Burdened Cost for work performed during 1996 will be revised only by the change in the Consumer
Price Index from the Effective date to December 31, 1995).

Article 6

Licenses and Royalties

     6.1 Grant by Onyx. Onyx hereby grants and agrees to grant to Warner exclusive, worldwide
(except for Japan) licenses under the Onyx Patents solely to make, have made, use and sell (with
the right to sublicense) each compound designated as a Collaboration Lead Compound or as a
Collaboration Product. Such licenses with respect to a Collaboration Lead Compound are
co-exclusive between Onyx and Warner. Such licenses with respect to a Collaboration Product are
exclusive even as to Onyx.

     6.2 Grant by Warner. Warner hereby grants and agrees to grant to Onyx exclusive, worldwide
(except for Japan) licenses under the Warner Patents solely to make, have made, use and sell (with
the right to sublicense) each compound designated as an Onyx Lead Compound or as an Onyx Product.
Such licenses with respect to an Onyx Lead Compound are co-exclusive between Onyx and Warner. Such
licenses with respect to an Onyx Product are exclusive even as to Warner.

     6.3 Royalties Payable by Warner. In part consideration for all rights granted to Warner and
efforts undertaken by Onyx hereunder, Warner will pay Onyx [*] of Net

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

13.

 

Sales as a royalty on
worldwide sales (except for Japan) of Collaboration Products. If at the time of the first
commercial sale of such Product in such country a Patent exists that is necessary to sell such
Product in such country, or if at any time after such sale a composition of matter Patent necessary
to sell such Collaboration Product issues in such country, such [*] royalty shall be payable in
respect of sales in such country until the later of (a) the expiration of the last such Patent to
expire and (b) the date such [*] royalty would expire under the provisions of the following
sentence assuming that such Patent did not exist. Subject to the terms of the preceding sentence,
if in a particular country there is never an issued Patent that is necessary to sell such Product
in such country, then such [*] royalty will be payable, for sales of such Product in such country,
until the earliest of (x) the later to occur of (i) the [*] anniversary of such first sale in such
country and (ii) expiration of the last Patent necessary to make or use such Product in such
country, which Patent was in existence on the date of such first commercial sale, (y) the first
calendar quarter in which the sale in such country by any one entity (together with its
Affiliates), other than Warner or its Affiliates or licensees, of one or more products containing
the same active ingredient as such Product, constitutes [*] or more of all units sold in such
country containing such active ingredient and (z) the first calendar quarter in which the sale in
such country by any entities (taken in the aggregate), other than Warner or its Affiliates or
licensees, of one or more products containing the same active ingredient as the Product,
constitutes [*] or more of all units sold in such country containing such active ingredient (the
period from first commercial sale in each country until the earlier of (x), (y) and (z) above is
referred to herein as the “Collaboration Product Exclusive Period”). In the case of (y) and (z)
above, the [*] royalty will terminate as to Net Sales of Product sold on or after the day following
the end of the triggering calendar quarter. Warner will pay Onyx [*] and [*] of Net Sales as a
royalty on sales of Collaboration Products in each country (except for Japan) for the [*],
respectively, following (a) such final Patent expiration (in the event that the required Patent
necessary to sell such Product in such country existed on the date of first commercial sale or
issued thereafter) or (b) the end of the Collaboration Product Exclusive Period (if no such Patent
existed or issued thereafter, and provided that the Collaboration Product Exclusive Period lasted
at least [*] years); provided, however, that no such royalty will be payable in respect of
Collaboration Products sold without the use of one or more
trademarks developed by Warner for such Product during the time that the [*] royalty was
applicable.

     6.4 Royalties Payable by Onyx. Onyx will pay Warner [*] of Net Sales as a royalty on
worldwide sales (except for Japan) of Onyx Products. If at the time of the first commercial sale
of such Product in such country a Patent exists that is necessary to sell such Product in such
country, or if at any time after such sale a composition of matter Patent necessary to sell such
Collaboration Product issues in such country, such [*] royalty shall be payable in respect of sales
in such country until the later of (a) the expiration of the last such Patent to expire and (b) the
date such [*] royalty would expire

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

14.

 

under the provisions of the following sentence assuming that
such Patent did not exist. Subject to the terms of the preceding sentence, if in a particular
country there is never an issued Patent that is necessary to sell such Product in such country,
then such [*] royalty will be payable, for sales of such Product in such country, until the
earliest of (x) the later to occur of (i) the [*] anniversary of such first sale in such country
and (ii) expiration of the last Patent necessary to make or use such Product in such country, which
Patent was in existence on the date of such first commercial sale, (y) the first calendar quarter
in which the sale in such country by any one entity (together with its Affiliates), other than
Warner or its Affiliates or licensees, of one or more products containing the same active
ingredient as the Product, constitutes [*] or more of all units sold in such country containing
such active ingredient and (z) the first calendar quarter in which the sale in such country by any
entities (taken in the aggregate), other than Onyx or its Affiliates or licensees, of one or more
products containing the same active ingredient as the Product, constitutes [*] or more of all units
sold in such country containing such active ingredient (the period from first commercial sale in
each country until the earliest of (x), (y) and (z) above is referred to herein as the “Onyx
Product Exclusive Period”). In the case of (y) and (z) above, the [*] royalty will terminate as to
Net Sales of Product sold on or after the day following the end of the triggering calendar quarter.
Onyx will pay Warner [*] of Net Sales as a royalty on sales of Onyx Products in each country
(except for Japan) for the [*], respectively, following (a) such final Patent expiration (in the
event that the required Patent necessary to sell such Product in such country existed on the date
of first commercial sale or issued thereafter) or (b) the end of the Onyx Product Exclusive Period
(if no such Patent existed or issued thereafter, and provided that the Onyx Product Exclusive
Period lasted at least [*] years); provided, however, that no such royalty will be payable in
respect of an Onyx Product sold without the use of one or more trademarks developed by Onyx for
such Product during the time that the [*] royalty was applicable.

     6.5 Currency of Payment. All payments to be made under this Agreement shall be made in United
States dollars in the United States to a bank account designated by the party to be paid.
Royalties earned shall first be determined in the currency of the country in which they are earned
and
then converted to its equivalent in United States currency. Such conversion shall be based on
the average buying rates of exchange for the currencies involved into the currency of the United
States quoted by Citibank (or its successor in interest) in New York, New York at the close of
business on each business day of the quarterly period in which the royalties were earned.

     6.6 Payment and Reporting. The royalties due under Section 6.3 or Section 6.5 shall be paid
quarterly, within 45 days after the close of each calendar quarter immediately following each
quarterly period in which such royalties are earned, or earlier if practical. With each such
quarterly payment, the payor shall furnish the payee a royalty statement, setting forth on a
country-by-country basis the total number of units and Net Sales of each royalty-bearing Product
made, used and/or sold hereunder for the

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

15.

 

quarterly period for which the royalties are due. In
addition, the payor shall furnish such a royalty statement on a country-by-country basis for the
first quarter during which payor makes sales of Product for which no royalty payment in respect of
such country is due hereunder, and shall state the basis for such sales then being free of royalty
obligations hereunder. The payor shall thereafter have no further obligation to report the number
of units or Net Sales of such Product made, used and/or sold in such country.

     6.7 Records. The royalty paying party shall keep accurate books and accounts of record in
connection with the manufacture, use and/or sale by or for it of the Products hereunder in
sufficient detail to permit accurate determination of all figures necessary for verification of
royalty obligations set forth in this Article 6. Such records shall be maintained for a period of
3 years from the end of each year in which sales occurred. The payee, at its expense, through a
certified public accountant, shall have the right to access such books and records for the sole
purpose of verifying the royalty statements; such access shall be conducted after reasonable prior
notice by the payee to the payor during the payor’s ordinary business hours and shall not be more
frequent than once during each calendar year. Said accountant shall not disclose to the payee or
any other party any information except that which should properly be contained in a royalty report
required under this Agreement. If such accounting determines that a party’s error resulted in the
other party receiving at least 5% less than properly due in respect of any quarter, then the party
in error will reimburse such amount and reimburse the other party for the costs of such accounting
(including the fees and expenses of the certified public accountant).

     6.8 Taxes Withheld. Any income or other tax that one party hereunder, its Affiliates or
sublicensees is required to withhold (the “Withholding Party”) and pay on behalf of the other party
hereunder (the “Withheld Party”) with respect to the royalties payable under this Agreement shall
be deducted from and offset against said royalties prior to remittance to the Withheld Party;
provided, however, that in regard to any tax so deducted, the Withholding Party shall give or
cause to be given to the Withheld Party such assistance as may reasonably be necessary to enable
the Withheld Party to claim exemption therefrom or credit therefor, and in each case shall furnish
the Withheld Party proper evidence of the taxes paid on its behalf.

     6.9 Computation of Royalties. All sales of Onyx Products between Onyx and any of its
Affiliates and sublicensees shall be disregarded for purposes of computing royalties under this
Article 6, but in such instances royalties shall be payable only upon sales to unlicensed third
parties. Nothing herein contained shall obligate Onyx to pay Warner more than one royalty on any
unit of an Onyx Product. All sales of Collaboration Products between Warner and any of its
Affiliates and sublicensees shall be disregarded for purposes of computing royalties under this
Article 6, but in such instances royalties shall be payable only upon sales to unlicensed third
parties. Nothing

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

16.

 

herein contained shall obligate Warner to pay Onyx more than one royalty on any
unit of a Collaboration Product or a Warner Product.

     6.10 Licenses to Affiliates. Each party shall, at the other party’s request, sign license
and/or royalty agreements directly with the other party’s Affiliates and sublicensees in those
situations where such agreements would not decrease the amount of royalties which would be owed
hereunder. Such agreements shall contain the same language as contained herein with appropriate
changes in parties and territory. No such license and/or royalty agreement will relieve Warner or
Onyx, as the case may be, of its obligations hereunder, and such party will guarantee the
obligations of its Affiliate or sublicensee in any such agreement. Royalties received directly
from one party’s Affiliates and sublicensees shall be credited towards such party’s royalty
obligations under Section 6.3 or 6.5 hereof, as applicable.

     6.11 Restrictions on Payment. The obligation to pay royalties under this Agreement shall be
waived and excused to the extent that statutes, laws, codes or government regulations in a
particular country prevent such royalty payments by the seller of Products; provided, however, that
if legally permissible, the seller of Products shall pay the royalties owed to the other party
hereto by depositing such amounts in a bank account in such country that has been designated by the
party owed such royalties.

Article 7

Co-Promotion of Collaboration Products

     7.1 Co-Promotion Rights. Onyx will have the right to co-promote each Collaboration Product in
the Co-
Promotion Country during the Term of Co-Promotion pursuant to the terms and conditions hereof.

     7.2 Election or Revocation of Co-Promotion Right. Warner will give Onyx at least [*] prior
written notice of the anticipated first commercial sale of a Collaboration Product in the
Co-Promotion Country. Onyx will notify Warner in writing at least [*] prior to such anticipated
first commercial sale whether it elects to exercise its right to co-promote such Collaboration
Product in such Co-Promotion Country beginning with the date of first commercial sale. If Onyx
fails timely to give such notice to Warner, it shall be deemed to have waived its rights to
co-promote. Onyx may terminate the Term of Co-Promotion at any time following [*] month’s written
notice to Warner. The Term of Co-Promotion can not be reinstated after delivery of such notice.

     7.3 Onyx’s Promotional Percentage. If Onyx elects to exercise its co-promotion rights
pursuant to Section 7.2, the Marketing Committee will meet and determine procedures whereby Onyx
will supply up to [*] but not less than [*] of the sales efforts (including details, if determined
to be an appropriate sales activity) for the

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

17.

 

relevant Collaboration Product in the Co-Promotion
Country. Warner will compensate Onyx for such effort at the lesser of (i) [*] and (ii) [*] Prior
to initiation of the Term of Co-Promotion in the Co-Promotion Country, the parties will negotiate
in good faith and agree on appropriate accounting procedures and payment terms to (i) confirm each
party’s performance of its required sales effort, (ii) calculate the costs for each party to
provide its sales effort and (iii) compensate Onyx as required by this Section.

     7.4 Marketing and Marketing Plans. Each Collaboration Product will be marketed with one label
and will bear one or more trademarks owned by Warner. The Marketing Committee will be responsible
for developing and approving marketing plans and the advertising and other promotional materials to
be used in co-promoting each Collaboration Product. Warner will be responsible for obtaining
acceptance of each Collaboration Product on formularies, if applicable. Warner will keep Onyx
informed of and will solicit and consider in good faith Onyx’s opinions regarding strategies for
obtaining formulary acceptance.

     7.5 Promotional Materials. Onyx shall not create any promotional or advertising materials for
Collaboration Products. Onyx shall disseminate only those promotional and advertising materials
which have been provided or approved for Onyx’s use by Warner. Warner shall supply timely to Onyx,
at Warner’s cost, quantities of promotional materials needed by Onyx to exercise its rights under
this Agreement. Onyx shall not, and shall cause its employees, representatives
and agents not, to make any claims or representations in respect of the Collaboration Products
that have not been approved by Warner.

     7.6 No Delegation. Onyx may use only its own employees or the employees of one or more of its
subsidiaries in the course of exercising its co-promotion rights under this Agreement.

     7.7 Returns. Warner shall be responsible for handling all returns relating to Collaboration
Products. Any Collaboration Product returned to Onyx shall be shipped by Onyx to the address
designated by Warner with shipping costs authorized by Warner to be paid by Warner.

     7.8 Orders. All customer orders for Collaboration Products shall be received and executed by
Warner. Onyx shall transmit any such orders that it receives to Warner no later than the following
business day.

     7.9 Samples. Each of the parties will keep accurate records as to the distribution of samples
of Collaboration Products and comply with all applicable laws, rules and regulations dealing with
the distribution of samples.

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

18.

 

     7.10 Completion of Sales. All sales of Collaboration Products will be completed, distributed,
accounted for, billed and booked by Warner at prices established by Warner.

     7.11 Training. Consistent with the marketing plans established by the Marketing Committee,
but not less than [*] prior to the commencement of the Term of Co-Promotion for each Collaboration
Product, Warner shall provide, at Onyx’s expense, reasonable access to its sales training staff and
facilities for appropriate, initial training of the Onyx sales force.

     7.12 Exchange of Marketing Information. From time-to-time the Marketing Committee will
develop call lists, schedules, and other appropriate information for the purpose of determining the
physicians and other persons involved in the drug purchase decision-making process to whom Onyx and
Warner, respectively, may detail each Collaboration Product. The parties agree to cooperate in
finding an inexpensive and expeditious way to provide a call list and other information indicating
the identity of those physicians and other persons involved in the decision-making process
regarding the purchase of pharmaceuticals.

Article 8

FDA

     8.1 Side Effects. Each party shall promptly advise the other by telefax or overnight delivery
service addressed to the attention of its Vice President, Medical Affairs (or, in Onyx’s case, the
party with similar responsibilities), of any unexpected side effect, adverse reaction or injury
which has been brought to that party’s attention at any place and which is alleged to have been
caused by a Collaboration Product. Warner shall have all rights and responsibility to report such
side effect, adverse reaction or injury to regulatory authorities and others as appropriate.

     8.2 Regulatory and other Inquiries. Upon being contacted by the FDA or any drug regulatory
agency for any regulatory purpose pertaining to this Agreement or to a Collaboration Product, Onyx
and Warner shall immediately notify and consult with one another and Warner shall provide a
response as it deems appropriate. Warner shall have sole responsibility for responding to all
inquiries to Warner or Onyx regarding the benefits, side effects and other characteristics of
Collaboration Products.

     8.3 Product Recall. In the event that Warner or Onyx determines that an event, incident or
circumstance has occurred which may result in the need for a recall or other removal of any
Collaboration Product or any lot or lots thereof from the market, it shall advise and consult with
the other party with respect thereto. Warner shall make the final determination to recall or
otherwise remove the Collaboration Product or any lot or

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

19.

 

lots thereof from the market and shall be responsible for the cost and expense of notifying customers and the cost and expense associated
with return of the recalled Collaboration Product from a customer. Onyx shall have no such rights
or responsibilities in respect of territories outside of the Co-Promotion Country.

     8.4 Responsibility if not Co-Promoting. Onyx will have the rights and responsibilities
referred to in this Article 8 only during the Term of Co-Promotion and for [*] thereafter.

Article 9

Research Funding and Milestones

     9.1 Research Funding. Warner will pay Onyx the following amounts on the following dates
during the Term of the Research Collaboration in consideration for work performed by Onyx prior to
the Effective Date and to provide support for Onyx’s work under the Research Plan:

	 	 	 	 	 

	The Effective Date
	 	$	250,000	 
	Three month anniversary of the Effective Date
	 	 	4250,000	 
	Six month anniversary of the Effective Date
	 	$	750,000	 
	Nine month anniversary of the Effective Date
	 	$	250,000	 
	Twelve month anniversary of the Effective Date
	 	$	1,000,000	 
	Fifteen month anniversary of the Effective Date
	 	$	250,000	 
	Eighteen month anniversary of the Effective Date
	 	$	250,000	 
	Twenty-one month anniversary of the Effective Date
	 	$	500,000	 
	Twenty-four month anniversary of the Effective Date
	 	$	1,500,000	 
	Twenty-seven month anniversary of the Effective Date
	 	$	250,000	 
	Thirty month anniversary of the Effective Date
	 	$	250,000	 
	Thirty-three month anniversary of the Effective Date
	 	$	666,667	 
	 
	 	 	 	 
	 
	 	$	6,166,667	 

     9.2 Milestones. (a) Warner will pay Onyx the following amounts with respect to the first
Collaboration Product to achieve each stated milestone:

	 	 	 	 	 

	Commencement of Phase I clinical trials by or on behalf
of Warner anywhere in the world
	 	$	500,000	 
	 
	 	 	 	 
	Commencement of Phase II clinical trials by or on behalf
of Warner anywhere in the world
	 	$	1,000,000	 

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

20.

 

	 	 	 	 	 

	 
	 	 	 	 
	Commencement of Phase III clinical trials by or on behalf
of Warner anywhere in the world
	 	 	[*]	 
	 
	 	 	 	 
	The FDA’s acceptance for filing of an NDA
	 	 	[*]	 
	 
	 	 	 	 
	Acceptance for filing of an MAA applicable to any of the
following countries: (i) United Kingdom, (ii) Spain,
(iii) Italy, (iv) France and (v) Germany (each a “Major
European Country”)
	 	[*] country, up 
to [*] total
	 
	 	 	 	 
	Approval by the FDA of an NDA
	 	 	[*]	 
	 
	 	 	 	 
	Approval of an MAA applicable to a Major European Country
	 	[*] country, up 
to [*] total

          (b) Warner will pay Onyx [*] upon the approval by the FDA of an NDA for the second and each
subsequent Collaboration Product so approved and [*] upon the approval of an MAA applicable to each
Major European Country, up to [*], for the second and each subsequent Collaboration Product so
approved.

          (c) Onyx will pay Warner [*] upon the approval by the FDA of an NDA for each Onyx Product and
[*] upon the approval of an MAA applicable to each Major European Country, up to [*] for each Onyx
Product.

Article 10

Confidentiality

     10.1 Confidentiality. (a) Except as specifically permitted hereunder, each party hereby agrees to hold in confidence and not use on behalf of itself or others all data, samples, technical
and economic information (including the economic terms hereof), commercialization, clinical and
research strategies and know-how provided by the other party (the “Disclosing Party”) during the Term of this Agreement and all data, results and information developed
pursuant to the Collaboration and solely owned by the other party (collectively the “Confidential
Information”), except that the term “Confidential Information” shall not include:

               (i) information that is or becomes part of the public domain through no fault of the non-Disclosing Party or its Affiliates;

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

21.

 

               (ii) information that is obtained after the date hereof by the non-Disclosing Party or one of
its Affiliates from any third party which is lawfully in possession of such Confidential
Information and not in violation of any contractual or legal obligation to the Disclosing Party
with respect to such Confidential Information;

               (iii) Information that is known to the non-Disclosing Party or one or more of its Affiliates
prior to disclosure by the Disclosing Party, as evidenced by the non-Disclosing Party’s written
records; and

               (iv) information that is necessary to be disclosed to any governmental authorities or pursuant
to any regulatory filings, provided that in such case the non-Disclosing Party notifies the
Disclosing Party reasonably in advance of such disclosure and cooperates with the Disclosing Party
to minimize the scope or content of such disclosure.

          (b) The obligations of this Section 10.1 shall survive the expiration or termination of this
Agreement.

     10.2 Publicity. All publicity, press releases and other announcements relating to this
Agreement or the transactions contemplated hereby shall be reviewed in advance by, and subject to
the approval of, both parties; provided, however, that either party may (i) publicize the existence
and general subject matter of this Agreement without the other party’s approval and (ii) disclose
the terms of this Agreement insofar as required to comply with applicable securities laws, provided
that in the case of such securities disclosures the disclosing party notifies the other party
reasonably in advance of such disclosure and cooperates to minimize the scope and content of such
disclosure.

     10.3 Publication. The parties shall cooperate in appropriate publication of the results of
research and development work performed pursuant to this Agreement, but subject to the
predominating interest to obtain patent protection for any patentable subject matter. To this end,
it is agreed that prior to any public disclosure, the party proposing disclosure shall send the
other party a copy of the information to be disclosed, and shall allow the other party [*] from the
date of receipt in which to determine whether the information to be disclosed contains subject matter for which patent protection should be sought prior to
disclosure. If notification is not received during the [*] period, the party proposing disclosure
shall be free to proceed with the disclosure. If due to a valid business reason or a belief by the
nondisclosing party that the disclosure contains subject matter for which a patentable invention
should be sought, then prior to the expiration of the [*] period, the nondisclosing party shall so
notify the disclosing party, who shall then delay public disclosure of the information for an
additional period of up to [*] to permit the preparation and filing of a patent application on the
subject matter to be disclosed or other action to be taken. The party proposing disclosure shall
thereafter be free to

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

22.

 

publish or disclose the information. The determination of authorship for any
paper shall be in accordance with accepted scientific practice. In no event may any publication or
other disclosure contain a party’s Confidential Information without such party’s prior written
consent.

Article 11

Japan

     11.1 Japanese Company. Neither party may license any of its Patents or Know-How to, or
otherwise collaborate in the Field with, any person or other entity for use in Japan, except
pursuant to an agreement mutually acceptable to Onyx and Warner (the “Japanese Company Agreement”).
Onyx and Warner will work together to select a Japanese company to collaborate with (the “Japanese
Company”) and to hold negotiations with the Japanese Company regarding the terms of the Japanese
Company Agreement.

     11.2 Japanese Company Agreement. Warner agrees that it will accept any proposed Japanese
Company Agreement that includes the following provisions: (i) [*] provided, however, that [*] (ii)
[*] (iii) [*] (iv) [*] (v) [*] (vi) [*] provided, however, that this provision shall not apply to
(a) any compound identified by the Japanese Company as a candidate for cGLP/cGMP studies before the
effective date of the Japanese Company Agreement, or analogs or derivatives thereof not identified
pursuant to any collaboration between Onyx and the Japanese Company or (b) any compound identified
after the [*] anniversary of the term of the research collaboration under such agreement; and
further provided that this provision will apply to compounds identified during the term of the
research collaboration under such agreement or [*] thereafter, and any derivatives or analogs of
such compounds whenever identified, and (vii) [*] For purposes of clause (i) of this section, any
dispute about the [*] that cannot be resolved by good faith negotiations between senior executive
officers of Onyx and Warner will be resolved by the decision of an investment bank familiar with
valuations of privately-held biotechnology companies selected by the parties in good faith agreement, with the cost of
performing such valuation borne equally by the parties.

     11.3 Absence of Agreement. If Onyx does not execute an agreement in the Field with a Japanese
company pursuant to Sections 11.1 or 11.2, then neither party shall market or license others to
market any Collaboration Compounds in the Field in Japan without the consent of the other party.

Article 12

Representations and Warranties

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

23.

 

     12.1 Legal Authority. Each party represents and warrants to the other that it has the legal
power, authority and right to enter into this Agreement and to perform its respective obligations
set forth herein.

     12.2 No Conflicts. Each party represents and warrants that as of the date of this Agreement
it is not a party to any agreement or arrangement with any third party or under any obligation or
restriction, including pursuant to its Certificate of Incorporation or By-Laws, which in any way
limits or conflicts with its ability to fulfill any of its obligations under this Agreement.

     12.3 Others Bound. Each party represents and warrants that anyone performing services under
this Agreement on its behalf shall be bound by all of the conditions of this Agreement, to the
extent necessary to give full effect to this Agreement.

     12.4 Third Party Rights. Each party represents and warrants that to the best of its knowledge
its performance of the work under the Collaboration as contemplated by this Agreement will not
infringe the patent, trade secret or other proprietary rights of any third party except insofar as
any infringement may relate to technology, data or information provided by the other party
hereunder.

     12.5 Survival. The foregoing representations and warranties shall survive the execution,
delivery and performance of this Agreement, notwithstanding any investigation by or on behalf of
either party.

     12.6 Disclaimer. Except as otherwise expressly stated herein, Warner hereby disclaims any
warranty expressed or implied as to any Onyx Product sold or placed in commerce by or on behalf of Onyx. Except as
otherwise expressly stated herein, Onyx hereby disclaims any warranty expressed or implied as to
any Collaboration Product sold or placed in commerce by or on behalf of Warner.

     12.7 Exclusivity. Except pursuant to the Japanese Company Agreement, during the Term of the
Research Collaboration and for one year thereafter (i) neither party will conduct any research or
development in the Field except pursuant to this Agreement, (ii) neither party will license (or
otherwise permit access to) any of its Patents or Know-How for research or development in the Field
to (or otherwise collaborate on research or development in the Field with) any other person or
entity and (iii) Onyx will not license (or otherwise permit access to) any assay developed by it
pursuant to the Collaboration to any other person or entity. In respect of (i), above, each party
shall have the right to conduct its own research and development in the Field during the one year
following the end of the Term of the Research Collaboration, provided that all results of such work
discovered during such period (including without limitation compounds and assays), and analogs and
derivatives of compounds identified during

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

24.

 

such period whenever identified, are promptly disclosed to the other party and are covered by the licenses granted under Sections 1.4, 5.1 and 5.2, as
applicable.

Article 13 

Termination 

     13.1 Termination for Breach. In the event of a material breach of the provisions of this
Agreement described below, the breaching party shall have 30 days after receipt of written notice
from the non-breaching party to cure such breach.

          (a) In the event of an uncured material breach of Article 2, the non-breaching party may
terminate the Term of the Research Collaboration.

          (b) In the event of an uncured material breach of Section 6.3 by Warner in respect of a
Collaboration Product, Onyx may (i) terminate the licenses granted by it pursuant to Section 6.1 in
respect of such Product and (ii) require Warner to grant it an exclusive (even as to Warner),
worldwide license (with the right to sublicense) under the Patents relating to such Product and
owned or controlled by Warner, to the extent necessary to make, use or sell such Product.

          (c) In the event of an uncured material breach of Section 6.5 by Onyx in respect of an Onyx
Product, Warner may (i) terminate the licenses granted by it pursuant to Section 6.2 in respect of
such Product and (ii) require Onyx to grant it an exclusive (even as to Onyx), worldwide license (with the right to sublicense) under the Patents relating
to such Product and owned or controlled by Onyx, to the extent necessary to make, use or sell such
Product.

          (d) In the event of an uncured material breach by Onyx of any provision of Article 7, Warner
may immediately terminate the Term of Co-Promotion.

     13.2 Effect of Bankruptcy. If either party files a voluntary petition in bankruptcy, is
adjudicated a bankrupt, makes a general assignment for the benefit of creditors, admits in writing
that it is insolvent or fails to discharge within 15 days an involuntary petition in bankruptcy
filed against it, then the other party will have 60 days to determine whether or not (a) the Term
of the Research Collaboration shall immediately terminate and/or (b) the Term of Co-Promotion shall
immediately terminate.

     13.3 Termination of Co-Promotion Rights. Warner may terminate Onyx’s right to co-promote
Collaboration Products hereunder if (i) any entity or person in the pharmaceutical industry
directly or indirectly acquires ownership or control of more than 50% of Onyx’s voting capital
stock or substantially all of its assets or (ii) Onyx develops

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

25.

 

or acquires a financial interest in any product that could compete with any Collaboration Product as to which product an NDA has been
filed with or approved by the FDA.

     13.4 Remedies. In the event of any breach of any provision of this Agreement, in addition to
the termination rights set forth herein, each party shall have all other rights and remedies at law
or equity to enforce this Agreement.

     13.5 Voluntary Termination. Warner may terminate this Agreement by providing written notice
thereof to Onyx on the eighteen month anniversary of the Effective Date. In such event, the Term
of this Agreement will automatically terminate, and Warner’s obligation to purchase stock on the
second anniversary of the Effective Date under the Preferred Stock Purchase Agreement dated the
date hereof will also terminate. Notwithstanding the termination of the Term of this Agreement,
(i) Warner will make all research payments to Onyx that are due before the second anniversary of
the Effective Date pursuant to Section 9.1 (payable on the dates that such payments are due) and
shall make a termination payment of [*] on the second anniversary of the Effective Date, (ii)
Warner will grant Onyx an exclusive (even as to Warner), world-wide, fully-paid, perpetual license
under Warner’s Patents and Warner’s Know-How discovered or reduced to practice prior to the one
year anniversary of the termination of the Term of this Agreement that are necessary to make, use
and sell any Collaboration Compound for therapeutic or diagnostic use in the Field, (iii) the
licenses granted under Section 6.1 will terminate and (iv) the licenses granted to Warner
under Section 2.4 will terminate.

Article 14

General Provisions

     14.1 Indemnification. Each of Warner and Onyx agrees to indemnify and hold harmless the other
party and its Affiliates and their respective employees, agents, officers, directors and permitted
assigns (such party’s “Indemnified Group”) from and against any claims, judgments, expenses
(including reasonable attorney’s fees), damages and awards (collectively a “Claim”) arising out of
or resulting from (i) its negligence or misconduct in regard to any Product, (ii) a breach of any
of its representations or warranties hereunder or (iii) the manufacture, use or sale of a
Collaboration Product (in the case of Warner) or an Onyx Product (in the case of Onyx), except to
the extent that such Claim arises out of or results from the negligence or misconduct of a party
seeking to be indemnified and held harmless or the negligence or misconduct of a member of such
party’s Indemnified Group. A condition of this obligation is that, whenever an indemnified party
has information from which it may reasonably conclude an incident has occurred which could give
rise to a Claim, such indemnified party shall immediately give notice to the indemnifying party of
all pertinent data surrounding such incident and,

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

26.

 

in the event claim is made or suit is brought, all indemnified parties shall assist the indemnifying party and cooperate in the gathering of
information with respect to the time, place and circumstances and in obtaining the names and
addresses of any injured parties and available witnesses. No indemnified party shall, except at
its own cost, voluntarily make any payment or incur any expense in connection with any such Claim
or suit without the prior written consent of the indemnifying party. The obligations set forth in
this Section shall survive the expiration or termination of this Agreement.

     14.2 Assignment. This Agreement shall not be assignable by either party without the prior
written consent of the other party, such consent not to be unreasonably withheld. In no event will
any assignment relieve the assigning party of its obligations hereunder. This Agreement shall be
binding upon and, subject to the terms of the foregoing sentence, inure to the benefit of the
parties’ successors, legal representatives and assigns. Notwithstanding the foregoing, Warner may
assign this Agreement to any of its wholly-owned subsidiaries or any entity succeeding to a
majority of its Parke-Davis business, and either party may assign this Agreement to its successor
in connection with any merger, consolidation or sale of all or substantially all of its assets.

     14.3 Non-Waiver. The waiver by either of the parties of any breach of any provision hereof by
the other party shall not be construed to be a waiver of any succeeding breach of such provision or
a waiver of the provision itself.

     14.4 Research Dispute Resolution. The parties recognize that the collaborative research
program under the Research Plan may require the resolution of certain issues or the negotiation of
additional agreements in the future. In the event the Research Management Committee is unable to
resolve a dispute under the Research Plan, either party may have the dispute referred to the
President of Onyx and the senior officer of Warner’s pharmaceutical business for good faith
resolution.

     14.5 Governing Law. This Agreement shall be construed and interpreted in accordance with the
laws of the State of New York, other than those provisions governing conflicts of law.

     14.6 Partial Invalidity. If and to the extent that any court or tribunal of competent
jurisdiction holds any of the terms or provisions of this Agreement, or the application thereof to
any circumstances, to be invalid or unenforceable in a final nonappealable order, the parties shall
use their best efforts to reform the portions of this Agreement declared invalid to realize the
intent of the parties as fully as practical, and the remainder of this Agreement and the
application of such invalid term or provision to circumstances other than those as to which it is
held invalid or unenforceable shall not be affected thereby, and each of the remaining terms and
provisions of this Agreement shall remain valid and enforceable to the fullest extent of the law.

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

27.

 

     14.7 Notice. Any notice to be given to a party under or in connection with this Agreement
shall be in writing and shall be (i) personally delivered, (ii) delivered by a nationally
recognized overnight courier or (iii) delivered by certified mail, postage prepaid, return receipt
requested to the party at the address set forth below for such party:

	 	 	 

	To Warner:

	 	To Onyx:
	 
	 	 
	Senior Vice President, Research 

Parke-Davis Pharmaceutical 

Research Division, 

Warner-Lambert Company 

2800 Plymouth Road 

Ann Arbor, MI 48105

	 	Hollings Renton

President & CEO

Onyx Corporation

3031 Research Drive

Building A

Richmond, CA 94806
	 
	 	 
	with a copy to:

	 	with a copy to:
	 
	 	 
	President, Parke-Davis

United States and Mexico 

Warner-Lambert Company 

201 Tabor Road 

Morris Plains, NJ 07950

	 	Robert L. Jones, Esq. 

Cooley Godward LLP

5 Palo Alto Square 

4th Floor 

Palo Alto, CA 94306
	 
	 	 
	and a copy to:
	 	 
	 
	 	 
	Vice President and General Counsel 

Warner-Lambert Company 

201 Tabor Road 

Morris Plains, NJ 07950
	 	 

or to such other address as to which the party has given notice thereof. Such notices shall be
deemed given upon receipt.

     14.8 Vaccines and Diagnostics. Pursuant to an Agreement, between Chiron Corporation
(“Chiron”) and Onyx, dated April 24, 1992, Chiron has certain rights to Vaccines and Diagnostics
developed by Onyx. Warner and Onyx agree that, notwithstanding any other term or provision of this
Agreement to the contrary, neither party shall license to the other any Patents or Know-How to
make, use or sell Vaccines or Diagnostics. Furthermore, each party hereto may make, use or sell
Vaccines and Diagnostics in the Field without obligation to the other party, including as relates
to payment of milestones and royalties. As used in this Section, (i) “Vaccines” shall mean [*] and
(ii) “Diagnostics” shall mean [*]

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

28.

 

     14.9 Headings. The headings appearing herein have been inserted solely for the convenience of
the parties hereto and shall not affect the construction, meaning or interpretation of this
Agreement or any of its terms and conditions.

     14.10 No Implied Licenses or Warranties. No right or license under any patent application,
issued patent, know-how or other proprietary information is granted or shall be granted by
implication. All such rights or licenses are or shall be granted only as expressly provided in the
terms of this Agreement. Neither party warrants the success of any clinical or other studies
undertaken by it.

     14.11 Force Majeure. No failure or omission by the parties hereto in the performance of any
obligation of this Agreement shall be deemed a breach of this Agreement nor shall it create any
liability if the same shall arise from any cause or causes beyond the reasonable control of the
affected party, including, but not limited to, the following, which for purposes of this Agreement
shall be regarded as beyond the control of the party in question: acts of nature; acts or omissions
of any government; any rules, regulations, or orders issued by any governmental authority or by any
officer, department, agency or instrumentality thereof; fire; storm; flood; earthquake; accident;
war; rebellion; insurrection; riot; invasion; strikes; and lockouts or the like; provided that the
party so affected shall use its best efforts to avoid or remove such causes or nonperformance and
shall continue performance hereunder with the utmost dispatch whenever such causes are removed.

     14.12 Survival. The representations and warranties contained in this Agreement as well as
those rights and/or obligations contained in the terms of this Agreement which by their intent or
meaning have validity beyond the term of this Agreement shall survive the termination or expiration
of this Agreement.

     14.13 Entire Agreement. This Agreement constitutes the entire understanding between the
parties with respect to the subject matter contained herein and supersedes any and all prior
agreements, understandings and arrangements whether oral or written between the parties relating to
the subject matter hereof. This Agreement will control in the event of any conflict between this
Agreement and the Research Plan.

     14.14 Amendments. No amendment, change, modification or alteration of the terms and
conditions of this Agreement shall be binding upon either party unless in writing and signed by the
party to be charged.

     14.15 Independent Contractors. It is understood that both parties hereto are independent
contractors and engage in the operation of their own respective businesses, and neither party
hereto is to be considered the agent or partner of the other party for any purpose whatsoever.
Neither party has any authority to enter into any contracts or

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

29.

 

assume any obligations for the other party or make any warranties or representations on behalf of the other party.

     14.16 Counterparts. This Agreement may be executed in counterparts, each of which shall be
deemed an original and both of which together shall constitute one and the same instrument.

     In Witness Whereof, the parties hereto have caused this Agreement to be executed
by their duly authorized officers as of the date first above written.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	Onyx Pharmaceuticals, Inc.	 	 	 	Warner-Lambert Company	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Hollings  C. Renton
	 	 	 	By:
	 	/s/ Ronald M. Cresswell
	 
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Name:
	 	Hollings C. Renton
	 	 	 	 	 	Name:
	 	Ronald M. Cresswell	 	 
	 

	 	Title:
	 	President & CEO
	 	 	 	 	 	Title:
	 	Vice President and Chairman 

Parke-Davis Pharmaceutical Research 
Warner-Lambert Company	 	 

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

30.

 

AMENDED AND RESTATED

RESEARCH, DEVELOPMENT AND MARKETING

COLLABORATION AGREEMENT

DATED AS OF MAY 2, 1995

BETWEEN

ONYX PHARMACEUTICALS, INC.

AND

WARNER-LAMBERT COMPANY

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

 

 

Table Of Contents

	 	 	 	 	 	 	 	 	 

	 	 	 
	 	 	 	Page 
	 	 	 
	 	 	 	 	 	 
	Article 1.	 	     Definitions	 	 	1	 
	 	 	 
	 	 	 	 	 	 
	Article 2.	 	     Research Program	 	 	5	 
	 	 	 
	 	 	 	 	 	 
	 	 	2.1

	 	Undertaking and Scope
	 	 	5	 
	 	 	2.2

	 	Personnel and Resources
	 	 	6	 
	 	 	2.3

	 	Term of the Research Collaboration
	 	 	7	 
	 	 	2.4

	 	Rights to Know-How and Patents for Research
	 	 	7	 
	 	 	2.5

	 	Collaboration Expenses
	 	 	7	 
	 	 	 
	 	 	 	 	 	 
	Article 3.	 	     Committees	 	 	7	 
	 	 	 
	 	 	 	 	 	 
	 	 	3.1

	 	Research Management Committee
	 	 	7	 
	 	 	3.2

	 	Marketing Committee
	 	 	8	 
	 	 	3.3

	 	Meetings
	 	 	8	 
	 	 	3.4

	 	SAB Attendance
	 	 	8	 
	 	 	 
	 	 	 	 	 	 
	Article 4.	 	     Patents, Know-How, Rights and Inventions	 	 	9	 
	 	 	 
	 	 	 	 	 	 
	 	 	4.1

	 	Rights to Inventions
	 	 	9	 
	 	 	4.2

	 	Joint Inventions
	 	 	9	 
	 	 	4.3

	 	Protection of Patent Rights
	 	 	10	 
	 	 	4.4

	 	Allegations of Infringement by Third Parties
	 	 	10	 
	 	 	 
	 	 	 	 	 	 
	Article 5.	 	Designation of Lead Compounds and Marketing Rights	 	 	11	 
	 	 	 
	 	 	 	 	 	 
	 	 	5.1

	 	Designation of Lead Compound
	 	 	11	 
	 	 	5.2

	 	Collaboration Product
	 	 	11	 
	 	 	5.3

	 	Independent Development
	 	 	11	 
	 	 	5.4

	 	Warner’s Re-engagement Option
	 	 	12	 
	 	 	 
	 	 	 	 	 	 
	Article 6.	 	     Licenses and Royalties	 	 	13	 
	 	 	 
	 	 	 	 	 	 
	 	 	6.1

	 	Grant by Onyx
	 	 	13	 
	 	 	6.2

	 	Grant by Warner
	 	 	13	 
	 	 	6.3

	 	Royalties Payable by Warner
	 	 	13	 
	 	 	6.4

	 	Royalties Payable by Onyx
	 	 	14	 
	 	 	6.5

	 	Currency of Payment
	 	 	15	 
	 	 	6.6

	 	Payment and Reporting
	 	 	15	 
	 	 	6.7

	 	Records
	 	 	15	 
	 	 	6.8

	 	Taxes Withheld
	 	 	16	 
	 	 	6.9

	 	Computation of Royalties
	 	 	16	 
	 	 	6.10

	 	Licenses to Affiliates
	 	 	16	 

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

i. 

 

Table Of Contents
 (Continued)

	 	 	 	 	 	 	 	 	 

	 	 	 
	 	 	 	Page 
	 	 	 
	 	 	 	 	 	 
	 	 	6.11

	 	Restrictions on Payment
	 	 	16	 
	 	 	 
	 	 	 	 	 	 
	Article 7.	 	     Co-Promotion of Collaboration Products	 	 	17	 
	 	 	 
	 	 	 	 	 	 
	 	 	7.1

	 	Co-Promotion Rights
	 	 	17	 
	 	 	7.2

	 	Election or Revocation of Co-Promotion Right
	 	 	17	 
	 	 	7.3

	 	Onyx’s Promotional Percentage
	 	 	17	 
	 	 	7.4

	 	Marketing and Marketing Plans
	 	 	17	 
	 	 	7.5

	 	Promotional Materials
	 	 	18	 
	 	 	7.6

	 	No Delegation
	 	 	18	 
	 	 	7.7

	 	Returns
	 	 	18	 
	 	 	7.8

	 	Orders
	 	 	18	 
	 	 	7.9

	 	Samples
	 	 	18	 
	 	 	7.10

	 	Completion of Sales
	 	 	18	 
	 	 	7.11

	 	Training
	 	 	18	 
	 	 	7.12

	 	Exchange of Marketing Information
	 	 	18	 
	 	 	 
	 	 	 	 	 	 
	Article 8.	 	     FDA	 	 	19	 
	 	 	 
	 	 	 	 	 	 
	 	 	8.1

	 	Side Effects
	 	 	19	 
	 	 	8.2

	 	Regulatory and other Inquiries
	 	 	19	 
	 	 	8.3

	 	Product Recall
	 	 	19	 
	 	 	8.4

	 	Responsibility if not Co-Promoting
	 	 	19	 
	 	 	 
	 	 	 	 	 	 
	Article 9.	 	     Research Funding and Milestones	 	 	20	 
	 	 	 
	 	 	 	 	 	 
	 	 	9.1

	 	Research Funding
	 	 	20	 
	 	 	9.2

	 	Milestones
	 	 	20	 
	 	 	 
	 	 	 	 	 	 
	Article 10.	 	     Confidentiality	 	 	21	 
	 	 	 
	 	 	 	 	 	 
	 	 	10.1

	 	Confidentiality
	 	 	21	 
	 	 	10.2

	 	Publicity
	 	 	22	 
	 	 	10.3

	 	Publication
	 	 	22	 
	 	 	 
	 	 	 	 	 	 
	Article 11.	 	     Japan	 	 	23	 
	 	 	 
	 	 	 	 	 	 
	 	 	11.1

	 	Japanese Company
	 	 	23	 
	 	 	11.2

	 	Japanese Company Agreement
	 	 	23	 
	 	 	11.3

	 	Absence of Agreement
	 	 	24	 
	 	 	 
	 	 	 	 	 	 
	Article 12.	 	     Representations and Warranties	 	 	24	 
	 	 	 
	 	 	 	 	 	 
	 	 	12.1

	 	Legal Authority
	 	 	24	 
	 	 	12.2

	 	No Conflicts
	 	 	24	 

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

ii. 

 

Table Of Contents
 (Continued)

	 	 	 	 	 	 	 	 	 

	 	 	 
	 	 	 	Page 
	 	 	 
	 	 	 	 	 	 
	 	 	12.3

	 	Others Bound
	 	 	24	 
	 	 	12.4

	 	Third Party Rights
	 	 	24	 
	 	 	12.5

	 	Survival
	 	 	25	 
	 	 	12.6

	 	Disclaimer
	 	 	25	 
	 	 	12.7

	 	Exclusivity
	 	 	25	 
	 	 	 
	 	 	 	 	 	 
	Article 13	 	 	 	 	25	 
	 	 	 
	 	 	 	 	 	 
	 	 	13.1

	 	Termination for Breach
	 	 	25	 
	 	 	13.2

	 	Effect of Bankruptcy
	 	 	26	 
	 	 	13.3

	 	Key Personnel
	 	 	26	 
	 	 	13.4

	 	Termination of Co-Promotion Rights
	 	 	26	 
	 	 	13.5

	 	Remedies
	 	 	27	 
	 	 	13.6

	 	Voluntary Termination
	 	 	27	 
	 	 	 
	 	 	 	 	 	 
	Article 14.	 	     General Provisions	 	 	27	 
	 	 	 
	 	 	 	 	 	 
	 	 	14.1

	 	Indemnification
	 	 	27	 
	 	 	14.2

	 	Assignment
	 	 	28	 
	 	 	14.3

	 	Non-Waiver
	 	 	28	 
	 	 	14.4

	 	Research Dispute Resolution
	 	 	28	 
	 	 	14.5

	 	Governing Law
	 	 	28	 
	 	 	14.6

	 	Partial Invalidity
	 	 	28	 
	 	 	14.7

	 	Notice
	 	 	29	 
	 	 	14.8

	 	Vaccines and Diagnostics
	 	 	29	 
	 	 	14.9

	 	Headings
	 	 	30	 
	 	 	14.10

	 	No Implied Licenses or Warranties
	 	 	30	 
	 	 	14.11

	 	Force Majeure
	 	 	30	 
	 	 	14.12

	 	Survival
	 	 	30	 
	 	 	14.13

	 	Entire Agreement
	 	 	30	 
	 	 	14.14

	 	Amendments
	 	 	31	 
	 	 	14.15

	 	Independent Contractors
	 	 	31	 
	 	 	14.16

	 	Counterparts
	 	 	31	 

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

iii. 

 

Schedule 1

PRE-EXISTING CONFIDENTIALITY OBLIGATIONS

[*] = Certain confidential information contained in this document, marked by brackets, has
been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule
24b-2 of the Securities Exchange Act of 1934, as amended.

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