Document:

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                                                                    EXHIBIT 10.1
                         FORM OF SUBSCRIPTION AGREEMENT

                             SUBSCRIPTION AGREEMENT

November 15, 2006

Gentlemen:

The undersigned (the "Investor") hereby confirms its agreement with you as
follows:

1. This Subscription Agreement (this "Agreement") is made as of the date set
forth below between Dendreon Corporation, a Delaware corporation (the
"Company"), and the Investor.

2. The Company has authorized the sale and issuance to certain investors of up
to an aggregate of 9,890,110 shares (the "Shares") of its Common Stock, par
value $0.001 per share (the "Common Stock"), subject to adjustment by the
Company's Board of Directors, or a committee thereof, for a purchase price of
$4.55 per share (the "Purchase Price").

3. The offering and sale of the Shares (the "Offering") is being made pursuant
to (1) an effective Registration Statement on Form S-3 (Registration No.
333-127521) filed by the Company with the Securities and Exchange Commission
(the "Commission") (the "Registration Statement"), which contains the base
prospectus dated October 26, 2005 (the "Base Prospectus"), (2) if applicable,
certain "free writing prospectus" (as that term is defined in Rule 405 under the
Securities Act of 1933, as amended), that have or will be filed with the
Commission and delivered to the Investor on or prior to the date hereof, (3) a
preliminary prospectus supplement to the Base Prospectus dated November 15, 2006
(the "Preliminary Prospectus"), and (4) a Prospectus Supplement (the "Prospectus
Supplement" and together with the Base Prospectus, the "Prospectus") containing
certain supplemental information regarding the Shares and terms of the Offering
that will be filed with the Commission and delivered to the Investor (or made
available to the Investor by the filing by the Company of an electronic version
thereof with the Commission) along with the Company's counterpart to this
Agreement.

4. The Company and the Investor agree that the Investor will purchase from the
Company and the Company will issue and sell to the Investor the Shares of Common
Stock set forth below for the aggregate purchase price set forth below. The
Shares shall be purchased pursuant to the Terms and Conditions for Purchase of
Shares attached hereto as Annex I and incorporated herein by this reference as
if fully set forth herein. The Investor acknowledges that the Offering is not
being underwritten by the placement agents (the "Placement Agents") named in the
Prospectus Supplement and that there is no minimum offering amount.

5. The manner of settlement of the Shares purchased by the Investor shall be
determined by such Investor as follows (check one):

[ ]  A.   Delivery by electronic book-entry at The Depository Trust Company
          ("DTC"), registered in the Investor's name and address as set forth
          below, and released by Mellon Investor Services, LLC, the Company's
          transfer agent (the "Transfer Agent"), to the Investor at the Closing.
          NO LATER THAN ONE (1) BUSINESS

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          DAY AFTER THE EXECUTION OF THIS AGREEMENT BY THE INVESTOR AND THE
          COMPANY, THE INVESTOR SHALL:

     (I)  DIRECT THE BROKER-DEALER AT WHICH THE ACCOUNT OR ACCOUNTS TO BE
          CREDITED WITH THE SHARES ARE MAINTAINED TO SET UP A DEPOSIT/WITHDRAWAL
          AT CUSTODIAN ("DWAC") INSTRUCTING THE TRANSFER AGENT TO CREDIT SUCH
          ACCOUNT OR ACCOUNTS WITH THE SHARES, AND

     (II) REMIT BY WIRE TRANSFER THE AMOUNT OF FUNDS EQUAL TO THE AGGREGATE
          PURCHASE PRICE FOR THE SHARES BEING PURCHASED BY THE INVESTOR TO THE
          FOLLOWING ACCOUNT:

               Citibank N.A.
               153 East 53rd Street
               New York, New York 10043
               ABA #021000089
               Account Name: Shearman & Sterling Attorney Trust
               Account - IOLA
               Account number: 09286551
               Swift Code: CITIUS33

- OR -

[ ]  B.   Delivery versus payment ("DVP") through DTC (i.e., the Company shall
          deliver Shares registered in the Investor's name and address as set
          forth below and released by the Transfer Agent to the Investor at the
          Closing directly to the account(s) at the Placement Agents identified
          by the Investor and simultaneously therewith payment shall be made
          from such account(s) to the Company through DTC). NO LATER THAN ONE
          (1) BUSINESS DAY AFTER THE EXECUTION OF THIS AGREEMENT BY THE INVESTOR
          AND THE COMPANY, THE INVESTOR SHALL:

     (I)  NOTIFY CREDIT SUISSE SECURITIES (USA) LLC OR LAZARD CAPITAL MARKETS
          LLC, AS THE CASE MAY BE, OF THE ACCOUNT OR ACCOUNTS AT CREDIT SUISSE
          SECURITIES (USA) LLC OR LAZARD CAPITAL MARKETS LLC, AS THE CASE MAY
          BE, TO BE CREDITED WITH THE SHARES BEING PURCHASED BY SUCH INVESTOR,
          AND

     (II) CONFIRM THAT THE ACCOUNT OR ACCOUNTS AT CREDIT SUISSE SECURITIES (USA)
          LLC OR LAZARD CAPITAL MARKETS LLC, AS THE CASE MAY BE, TO BE CREDITED
          WITH THE SHARES BEING PURCHASED BY THE INVESTOR HAVE A MINIMUM BALANCE
          EQUAL TO THE AGGREGATE PURCHASE PRICE FOR THE SHARES BEING PURCHASED
          BY THE INVESTOR.

IT IS THE INVESTOR'S RESPONSIBILITY TO (A) MAKE THE NECESSARY WIRE TRANSFER OR
CONFIRM THE PROPER ACCOUNT BALANCE IN A TIMELY MANNER AND (B) ARRANGE FOR
SETTLEMENT BY WAY OF DWAC OR DVP IN A TIMELY

                                       2

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MANNER. IF THE INVESTOR DOES NOT DELIVER THE AGGREGATE PURCHASE PRICE FOR THE
SHARES OR DOES NOT MAKE PROPER ARRANGEMENTS FOR SETTLEMENT IN A TIMELY MANNER,
THE SHARES MAY NOT BE DELIVERED AT CLOSING TO THE INVESTOR OR THE INVESTOR MAY
BE EXCLUDED FROM THE CLOSING ALTOGETHER.

6. The Investor represents that, except as set forth below, (a) it has had no
position, office or other material relationship within the past three years with
the Company or persons known to it to be affiliates of the Company, (b) it is
not a NASD member or an Associated Person (as such term is defined under the
NASD Membership and Registration Rules Section 1011) as of the Closing, and (c)
neither the Investor nor any group of Investors (as identified in a public
filing made with the Commission) of which the Investor is a part in connection
with the Offering of the Shares, acquired, or obtained the right to acquire, 20%
or more of the Common Stock (or securities convertible into or exercisable for
Common Stock) or the voting power of the Company on a post-transaction basis.
Exceptions:

(If no exceptions, write "none." If left blank, response will be deemed to be
"none.")

7. The Investor represents that it has received the Preliminary Prospectus, the
documents incorporated by reference therein, and any free writing prospectus
(collectively, the "Disclosure Package"), prior to or in connection with the
receipt of this Agreement along with the Company's counterpart to this
Agreement.

8. No offer by the Investor to buy Shares will be accepted and no part of the
Purchase Price will be delivered to the Company until the Company has accepted
such offer by countersigning a copy of this Agreement, and any such offer may be
withdrawn or revoked, without obligation or commitment of any kind, at any time
prior to the Company (or a Placement Agent on behalf of the Company) sending
(orally, in writing, or by electronic mail) notice of its acceptance of such
offer. An indication of interest will involve no obligation or commitment of any
kind until this Agreement is accepted and countersigned by or on behalf of the
Company.

Number of Shares: ___________________
Purchase Price Per Share: $__________
Aggregate Purchase Price: $__________

                                        3

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Please confirm that the foregoing correctly sets forth the agreement between us
by signing in the space provided below for that purpose.

                                        Dated as of: November 15, 2006

                                        ----------------------------------------
                                        INVESTOR

                                        By:
                                            ------------------------------------
                                        Print Name:
                                                    ----------------------------
                                        Title:
                                               ---------------------------------

                                        Address:
                                                 -------------------------------

Agreed and Accepted
this 15 day of November, 2006:

DENDREON CORPORATION.

By:
    ---------------------------------
Title:
       ------------------------------

                                        4

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                                                                         ANNEX I

                   TERMS AND CONDITIONS FOR PURCHASE OF SHARES

1. Authorization and Sale of the Shares. Subject to the terms and conditions of
this Agreement, the Company has authorized the sale of the Shares.

2. Agreement to Sell and Purchase the Shares; Placement Agents.

2.1 At the Closing (as defined in Section 3.1), the Company will sell to the
Investor, and the Investor will purchase from the Company, upon the terms and
conditions set forth herein, the number of Shares set forth on the last page of
the Agreement to which these Terms and Conditions for Purchase of Shares are
attached as Annex I (the "Signature Page") for the aggregate purchase price
therefor set forth on the Signature Page.

2.2 The Company proposes to enter into substantially this same form of
Subscription Agreement with certain other investors (the "Other Investors") and
expects to complete sales of Shares to them. The Investor and the Other
Investors are hereinafter sometimes collectively referred to as the "Investors,"
and this Agreement and the Subscription Agreements executed by the Other
Investors are hereinafter sometimes collectively referred to as the
"Agreements."

2.3 Investor acknowledges that the Company intends to pay Credit Suisse
Securities (USA) LLC and Lazard Capital Markets LLC (the "Placement Agents") a
fee (the "Placement Fee") in respect of the sale of Shares to the Investor.

2.4 The Company has entered into a Placement Agent Agreement, dated November 15,
2006 (the "Placement Agreement"), with the Placement Agents that contains
certain representations, warranties, covenants, and agreements of the Company
that may be relied upon by the Investor, which shall be a third party
beneficiary thereof. A copy of the Placement Agreement is available upon
request.

3. Closings and Delivery of the Shares and Funds.

3.1 Closing. The completion of the purchase and sale of the Shares (the
"Closing") shall occur at a place and time (the "Closing Date") to be specified
by the Company and the Placement Agents, and of which the Investors will be
notified in advance by the Placement Agents, in accordance with Rule 15c6-1
promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange
Act"). At the Closing, (a) the Company shall cause the Transfer Agent to deliver
to the Investor the number of Shares set forth on the Signature Page registered
in the name of the Investor or, if so indicated on the Investor Questionnaire
attached hereto as Exhibit A, in the name of a nominee designated by the
Investor and (b) the aggregate purchase price for the Shares being purchased by
the Investor will be delivered by or on behalf of the Investor to the Company.

3.2 (a) Conditions to the Company's Obligations. The Company's obligation to
issue and sell the Shares to the Investor shall be subject to: (a) the receipt
by the Company of the purchase price for the Shares being purchased hereunder as
set forth on the Signature Page and

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(b) the accuracy of the representations and warranties made by the Investor and
the fulfillment of those undertakings of the Investor to be fulfilled prior to
the Closing Date.

(b) Conditions to the Investor's Obligations. The Investor's obligation to
purchase the Shares will be subject to the accuracy of the representations and
warranties made by the Company and the fulfillment of those undertakings of the
Company to be fulfilled prior to the Closing Date, including without limitation,
those contained in the Placement Agreement, and to the condition that the
Placement Agents shall not have: (a) terminated the Placement Agreement pursuant
to the terms thereof or (b) determined that the conditions to the closing in the
Placement Agreement have not been satisfied. The Investor's obligations are
expressly not conditioned on the purchase by any or all of the Other Investors
of the Shares that they have agreed to purchase from the Company.

3.3 Delivery of Funds.

(a) Delivery by Electronic Book-Entry at The Depository Trust Company. If the
Investor elects to settle the Shares purchased by such Investor through delivery
by electronic book-entry at DTC, no later than one (1) business day after the
execution of this Agreement by the Investor and the Company, the Investor shall
remit by wire transfer the amount of funds equal to the aggregate purchase price
for the Shares being purchased by the Investor to the following account
designated by the Company and the Placement Agents pursuant to the terms of that
certain Escrow Agreement (the "Escrow Agreement") dated as of November 15, 2006,
by and among the Company, the Placement Agents and Shearman & Sterling LLP (the
"Escrow Agent"):

     Citibank N.A.
     153 East 53rd Street
     New York, New York 10043
     ABA #021000089
     Account Name: Shearman & Sterling Attorney Trust Account - IOLA
     Account number: 09286551
     Swift Code: CITIUS33

Such funds shall be held in escrow until the Closing and delivered by the Escrow
Agent on behalf of the Investors to the Company upon the satisfaction, in the
sole judgment of the Placement Agents, of the conditions set forth in Section
3.2(b) hereof. The Placement Agents shall have no rights in or to any of the
escrowed funds, unless the Placement Agents and the Escrow Agent are notified in
writing by the Company in connection with the Closing that a portion of the
escrowed funds shall be applied to the Placement Fee. The Company and the
Investor agree to indemnify and hold the Escrow Agent harmless from and against
any and all losses, costs, damages, expenses and claims (including, without
limitation, court costs and reasonable attorneys fees) ("Losses") arising under
this Section 3.3 or otherwise with respect to the funds held in escrow pursuant
hereto or arising under the Escrow Agreement, unless it is finally determined
that such Losses resulted directly from the willful misconduct or gross
negligence of the Escrow Agent. Anything in this Agreement to the contrary
notwithstanding, in no event shall the Escrow Agent be liable for any special,
indirect or consequential loss or damage of any kind whatsoever (including but
not limited to lost profits), even if the Escrow

                                      -6-

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Agent has been advised of the likelihood of such loss or damage and regardless
of the form of action.

Investor acknowledges that the Escrow Agent acts as counsel to the Placement
Agents, and shall have the right to continue to represent the Placement Agents,
in any action, proceeding, claim, litigation, dispute, arbitration or
negotiation in connection with the Offering, and Investor hereby consents
thereto and waives any objection to the continued representation of the
Placement Agents by the Escrow Agent in connection therewith based upon the
services of the Escrow Agent under the Escrow Agreement, without waiving any
duty or obligation the Escrow Agent may have to any other person.

(b) Delivery Versus Payment through The Depository Trust Company. If the
Investor elects to settle the Shares purchased by such Investor by delivery
versus payment through DTC, no later than one (1) business day after the
execution of this Agreement by the Investor and the Company, the Investor shall
confirm that the account or accounts at Credit Suisse Securities (USA) LLC or
Lazard Capital Markets LLC to be credited with the Shares being purchased by the
Investor have a minimum balance equal to the aggregate purchase price for the
Shares being purchased by the Investor.

3.4 Delivery of Shares.

(a) Delivery by Electronic Book-Entry at The Depository Trust Company. If the
Investor elects to settle the Shares purchased by such Investor through delivery
by electronic book-entry at DTC, no later than one (1) business day after the
execution of this Agreement by the Investor and the Company, the Investor shall
direct the broker-dealer at which the account or accounts to be credited with
the Shares being purchased by such Investor are maintained, which broker/dealer
shall be a DTC participant, to set up a Deposit/Withdrawal at Custodian ("DWAC")
instructing Mellon Investor Services, LLC, the Company's transfer agent, to
credit such account or accounts with the Shares by means of an electronic
book-entry delivery. Such DWAC shall indicate the settlement date for the
deposit of the Shares, which date shall be provided to the Investor by the
Placement Agents. Simultaneously with the delivery to the Company by the Escrow
Agent of the funds held in escrow pursuant to Section 3.3 above, the Company
shall direct its transfer agent to credit the Investor's account or accounts
with the Shares pursuant to the information contained in the DWAC.

(b) Delivery Versus Payment through The Depository Trust Company. If the
Investor elects to settle the Shares purchased by such Investor by delivery
versus payment through DTC, no later than one (1) business day after the
execution of this Agreement by the Investor and the Company, the Investor shall
notify Credit Suisse Securities (USA) LLC or Lazard Capital Markets LLC, as
applicable, of the account or accounts at Credit Suisse Securities (USA) LLC or
Lazard Capital Markets LLC, as applicable, to be credited with the Shares being
purchased by such Investor. On the Closing Date, the Company shall deliver the
Shares to the Investor directly to the account(s) at Credit Suisse Securities
(USA) LLC or Lazard Capital Markets LLC, as applicable, identified by Investor
and simultaneously therewith payment shall be made from such account(s) to the
Company through DTC.

4. Representations, Warranties and Covenants of the Investor.

                                      -7-

<PAGE>

4.1 The Investor represents and warrants to, and covenants with, the Company
that (a) the Investor is knowledgeable, sophisticated and experienced in making,
and is qualified to make decisions with respect to, investments in shares
presenting an investment decision like that involved in the purchase of the
Shares, including investments in securities issued by the Company and
investments in comparable companies, and has requested, received, reviewed and
considered all information it deemed relevant in making an informed decision to
purchase the Shares, (b) the Investor has answered all questions on the
Signature Page and the Investor Questionnaire for use in preparation of the
Prospectus Supplement and the answers thereto are true and correct as of the
date hereof and will be true and correct as of the Closing Date and (c) the
Investor, in connection with its decision to purchase the number of Shares set
forth on the Signature Page, is relying only upon the Disclosure Package, the
documents incorporated by reference therein and the representations and
warranties of the Company contained herein.

4.2 The Investor acknowledges, represents and agrees that no action has been or
will be taken in any jurisdiction outside the United States by the Company or
any Placement Agent that would permit an offering of the Shares, or possession
or distribution of offering materials in connection with the issue of the Shares
in any jurisdiction outside the United States where action for that purpose is
required. Each Investor outside the United States will comply with all
applicable laws and regulations in each foreign jurisdiction in which it
purchases, offers, sells or delivers Shares or has in its possession or
distributes any offering material, in all cases at its own expense. The
Placement Agents are not authorized to make and have not made any representation
or use of any information in connection with the issue, placement, purchase and
sale of the Shares, except as set forth or incorporated by reference in the Base
Prospectus or the Prospectus Supplement.

4.3 The Investor further represents and warrants to, and covenants with, the
Company that (a) the Investor has full right, power, authority and capacity to
enter into this Agreement and to consummate the transactions contemplated hereby
and has taken all necessary action to authorize the execution, delivery and
performance of this Agreement, and (b) this Agreement constitutes a valid and
binding obligation of the Investor enforceable against the Investor in
accordance with its terms, except as enforceability may be limited by applicable
bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
creditors' and contracting parties' rights generally and except as
enforceability may be subject to general principles of equity (regardless of
whether such enforceability is considered in a proceeding in equity or at law)
and except as the indemnification agreements of the Investors herein may be
legally unenforceable.

4.4 The Investor understands that nothing in this Agreement, the Prospectus or
any other materials presented to the Investor in connection with the purchase
and sale of the Shares constitutes legal, tax or investment advice. The Investor
has consulted such legal, tax and investment advisors as it, in its sole
discretion, has deemed necessary or appropriate in connection with its purchase
of Shares.

4.5 Each Investor represents, warrants and agrees that, since the earlier to
occur of (i) the date on which either Placement Agent first contacted such
Investor about the Offering and (ii) the date of this Agreement, it has not
engaged in any transactions in the securities of the Company (including, without
limitation, any Short Sales involving the Company's securities).

                                      -8-

<PAGE>

Each Investor covenants that it will not engage in any transactions in the
securities of the Company (including Short Sales) prior to the time that the
transactions contemplated by this Agreement are publicly disclosed. Each
Investor agrees that it will not use any of the Shares acquired pursuant to this
Agreement to cover any short position in the Common Stock if doing so would be
in violation of applicable securities laws. For purposes hereof, "Short Sales"
include, without limitation, all "short sales" as defined in Rule 200
promulgated under Regulation SHO under the Exchange Act, whether or not against
the box, and all types of direct and indirect stock pledges, forward sales
contracts, options, puts, calls, short sales, swaps, "put equivalent positions"
(as defined in Rule 16a-1(h) under the Exchange Act) and similar arrangements
(including on a total return basis), and sales and other transactions through
non-US broker dealers or foreign regulated brokers.

5. Survival of Representations, Warranties and Agreements; Third Party
Beneficiary. Notwithstanding any investigation made by any party to this
Agreement or by the Placement Agents, all covenants, agreements, representations
and warranties made by the Company and the Investor herein will survive the
execution of this Agreement, the delivery to the Investor of the Shares being
purchased and the payment therefor. The Placement Agents and Lazard Freres & Co.
LLC shall be third party beneficiaries with respect to representations,
warranties and agreements of the Investor in Section 4 hereof.

6. Notices. All notices, requests, consents and other communications hereunder
will be in writing, will be mailed (a) if within the domestic United States by
first-class registered or certified airmail, or nationally recognized overnight
express courier, postage prepaid, or by facsimile or (b) if delivered from
outside the United States, by International Federal Express or facsimile, and
will be deemed given (i) if delivered by first-class registered or certified
mail domestic, three business days after so mailed, (ii) if delivered by
nationally recognized overnight carrier, one business day after so mailed, (iii)
if delivered by International Federal Express, two business days after so mailed
and (iv) if delivered by facsimile, upon electric confirmation of receipt and
will be delivered and addressed as follows:

(a) if to the Company, to:

Dendreon Corporation
3005 First Avenue
Seattle, Washington 98121
Facsimile: (206) 219-7211
Attention: General Counsel

with copies to:

Jones Day
901 Lakeside Avenue
Cleveland, OH 44114
Attention: Christopher Kelly
Facsimile: (216) 579-0212

                                      -9-

<PAGE>

(b) if to the Investor, at its address on the Signature Page hereto, or at such
other address or addresses as may have been furnished to the Company in writing.

7. Changes. This Agreement may not be modified or amended except pursuant to an
instrument in writing signed by the Company and the Investor.

8. Headings. The headings of the various sections of this Agreement have been
inserted for convenience of reference only and will not be deemed to be part of
this Agreement.

9. Severability. In case any provision contained in this Agreement should be
invalid, illegal or unenforceable in any respect, the validity, legality and
enforceability of the remaining provisions contained herein will not in any way
be affected or impaired thereby.

10. Governing Law. This Agreement will be governed by, and construed in
accordance with, the internal laws of the State of New York, without giving
effect to the principles of conflicts of law that would require the application
of the laws of any other jurisdiction.

11. Counterparts. This Agreement may be executed in two or more counterparts,
each of which will constitute an original, but all of which, when taken
together, will constitute but one instrument, and will become effective when one
or more counterparts have been signed by each party hereto and delivered to the
other parties. The Company and the Investor acknowledge and agree that the
Company shall deliver its counterpart to the Investor along with the Prospectus
Supplement (or the filing by the Company of an electronic version thereof with
the Commission).

12. Confirmation of Sale. The Investor acknowledges and agrees that such
Investor's receipt of the Company's counterpart to this Agreement, together with
the Prospectus Supplement (or the filing by the Company of an electronic version
thereof with the Commission), shall constitute written confirmation of the
Company's sale of Shares to such Investor.

13. Press Release. The Company and the Investor agree that the Company shall
issue a press release announcing the Offering prior to the opening of the
financial markets in New York City on the business day immediately after the
date hereof.

14. Termination. In the event that the Placement Agreement is terminated by the
Placement Agents pursuant to the terms thereof, this Agreement shall terminate
without any further action on the part of the parties hereto.

                                      -10-

<PAGE>

                                    EXHIBIT A

                              DENDREON CORPORATION

                             INVESTOR QUESTIONNAIRE

Pursuant to Section 3 of Annex I to the Agreement, please provide us with the
following information:

1.   The exact name that your Shares are to be registered in. You may use a
     nominee name if appropriate: ______________________________________________

2.   The relationship between the Investor and the registered holder listed in
     response to item 1 above: _________________________________________________

3.   The mailing address of the registered holder listed in response to item 1
     above: ____________________________________________________________________

4.   The Social Security Number or Tax Identification Number of the registered
     holder listed in the response to item 1 above: ____________________________

5.   Name of DTC Participant (broker-dealer at which the account or accounts to
     be credited with the Shares are maintained): ______________________________

6.   DTC Participant Number: ___________________________________________________

7.   Name of Account at DTC Participant being credited with the Shares: ________

8.   Account Number at DTC Participant being credited with the Shares: _________

                                      -11-ROYALTY AGREEMENT 

        THIS
ROYALTY AGREEMENT (this “Agreement”) is made and entered into as of November 14,
2006 (the “Effective Date”), by and between Auriga Laboratories, Inc., a
Delaware corporation (the “Company”), and Collard Family Limited Partnership, a
Nevada limited partnership (“Collard”). 

RECITALS 

        WHEREAS,
Auriga Laboratories, Inc., a privately-held corporation organized under the laws of the
State of Delaware (“Auriga Labs–Private”), issued to Collard that certain
Unsecured Subordinated Promissory Note, dated as of December 15, 2005, in the principal
amount of Two Million Two Hundred Twenty-five Thousand Dollars ($2,225,000.00), which note
expires on or about January 2, 2009 (the “Note”); 

        WHEREAS,
on May 17, 2006, Auriga Labs–Private merged with and into the wholly-owned subsidiary
of Multi-Link Telecommunications, Inc., a publicly-held corporation organized under the
laws of the State of Colorado (“Multi-Link”), which resulted in Auriga
Labs–Private becoming the wholly-owned subsidiary of Multi-Link; 

        WHEREAS,
on July 11, 2006, Multi-Link redomesticated to the State of Delaware and changed its name
to that of Auriga Laboratories, Inc. and, following such merger and redomestication and
pursuant to the terms thereof, assumed the rights and obligations of Auriga
Labs–Private under the Note; 

        WHEREAS,
pursuant to Section 8 of the Note, and in order to assist the Company in the conduct of
its business operations, Collard hereby agrees to cancel the Note in exchange for payments
by the Company to Collard and other obligations as contemplated in this Agreement; 

        WHEREAS,
the Company and Collard desire to enter into this Agreement to set forth the terms and
conditions upon which the Company will make the payments contemplated hereunder to
Collard. 

AGREEMENT 

        NOW,
THEREFORE, in consideration of the foregoing and the respective covenants, agreements and
conditions hereinafter set forth, and intending to be legally bound hereby, the parties
hereto agree as follows: 

ARTICLE I  
ROYALTY
PAYMENT  

        1.1.    Royalty
Fees. In consideration of the full payment and cancellation of           the Note on
the terms set forth herein, subject to the provisions of Article IV           hereof, the
Company shall pay to Collard a royalty fee at a rate equal to four           percent (4%)
of the Net Sales actually received by the Company (or any other           company or
entity owned or controlled directly or indirectly by the Company)           from making,
using, selling or offering for sale any product (the           “Product”)
included in the Company’s Extendryl® product line           to a third party,
including, without limitation, the pre-tax income actually           received by the
Company (or any other company or entity owned or controlled           directly or
indirectly by the Company) from such third party thereafter selling,           licensing
or sublicensing the Product Line (as defined below) for any use or           application
whatsoever (including applications or uses in a licensed physician           or doctor’s
office) (collectively, the “Royalty Fee”); except           that no Royalty Fee
shall be due or payable for free, or nominally-priced,           samples distributed by
the Company to physicians or sales representatives           (whether employed by the
Company or otherwise).  

        1.2.    Minimum
Annual Royalty Fee; Maximum Annual Royalty Fee. Subject to the           provisions
of Article IV hereof: (a) the minimum Royalty Fee payable by the           Company to
Collard hereunder in any calendar year during the Term (as defined           below) shall
be One Hundred Thousand Dollars ($100,000.00) (the “Minimum           Annual Royalty
Fee”); and (b) the maximum Royalty Fee payable by the           Company to Collard
hereunder in any calendar year during the Term shall be Five           Hundred Thousand
Dollars ($500,000.00) (the “Maximum Annual Royalty           Fee”). It is the
parties’ intention that the Minimum Annual Royalty           Fee and the Maximum
Annual Royalty Fee shall be prorated for any partial or           incomplete annual
period as contemplated herein.  

        1.3.    Payment.
Subject to Section 1.2 and Article IV hereof, the Royalty Fees           shall be payable
in cash by the Company to Collard quarterly (with a minimum           quarterly amount of
$25,000) on or before the thirtieth (30th) day           following each
calendar quarter, beginning with a payment following the last           calendar quarter
of 2006. Each payment shall be accompanied by reasonably           detailed description
of the calculation of the Royalty Fees then payable.           Notwithstanding the
foregoing, Company and Collard agree that the payment of           quarterly Royalty Fees
by Company to Collard due under this Section 1.3 for the           last calendar quarter
of 2006, shall be due and payable in cash on or before           February 15, 2007.  

        1.4.    Definitions.  

	 	        (a)              For
the purposes of this Agreement, “Product Line” shall mean and           refer
to all products and lines of Product existing now or hereafter during the           Term,
including, but not limited to, all existing SKUs and re-formulations,
          re-packaging and re-marketing of any of the foregoing in any nature or form
          whatsoever. “Product Line” specifically includes any generic
          equivalent or any other product with a formulation substantially similar to any
          product that is in the Company’s Extendryl® line at any time during
the           Term or that is marketed by Rivers Edge, Auriga’s generic partner;
          provided, however, that “Product Line” shall specifically exclude the
          Company’s Levall® products and their generic equivalents marketed by
          the Company or Rivers Edge.  

	 	        (b)              For
the purposes of this Agreement, “Net Sales” shall mean the amount
          invoiced by the Company (or any other company or entity owned or controlled
          directly or indirectly by the Company) for sales of the Product Line, less: (i)
          quantity and/or cash discounts from the gross invoice price which are actually
          taken; (ii) freight, postage and insurance included in the invoice price;
          (iii) amounts repaid or credited by reasons of rejections or return of
          goods, (iv) third-party rebates and chargebacks actually repaid or
          credited, (v) invoiced customer duties and sales taxes (excluding income,
          value-added and similar taxes), if any, actually paid; and (vi) adjustments
          taken as a result of payments made hereunder that are duplicative of payments
          made by the Company or any other company or entity owned or controlled directly
          or indirectly by the Company to Collard (it being the intention of the parties
          that Collard shall have no have right to duplicate or multiple payments for the
          same sale).  

2 

	 	        (c)              For
the purposes of this Agreement, the phrase “making, using, selling or
          offering for sale” (or words of similar import) shall mean the revenue
          directly generated and received by the Company from making, using, selling or
          offering for sale the Product Line to a third party that is in direct privity
of           contract with the Company (or an affiliate thereof) or with sales
          representatives expressly authorized by the Company to sell Product from the
          Product Line.  

ARTICLE II  
FDA ACTION  

        In
the event that the U.S. Food and Drug Administration (or any successor or designee
thereof, the “FDA”) acts to restrict any Product in the Product Line from sale
or distribution in the United States (an “FDA Action”), and if such FDA Action
directly results in the failure of the Product Line to generate Net Sales sufficient to
equal the Minimum Annual Royalty Fee in any year during the Term, the Company shall,
irrespective of its actual Net Sales of the Product Line: (a) continue to pay in cash to
Collard on a quarterly basis the Minimum Annual Royalty Fee for a period of four years and
thereafter pay in cash to Collard on a quarterly basis two times the amount of the Minimum
Annual Royalty Fee; and (b) issue to Collard that number of fully-paid, non-assessable
restricted shares of common stock of the Company equal to One Hundred Thousand Dollars
($100,000.00), with such shares to be valued as of the date of issuance by the Company to
Collard (collectively, sub-clauses (a) and (b) are referred to hereinafter as the
“FDA Fees”). The FDA Fees shall be paid: (x) no later than fifteen (15) days
following the anniversary of such FDA Action then in effect; (y) only during the Term; and
(z) only once during the twelve (12) month period in which such FDA Action is in effect;
provided that, if the FDA later rescinds an applicable FDA Action (whether by notice to
the Company directly or by other action), the Company shall no longer be obligated to pay
the FDA Fees as of the effective time of such rescission. It is the parties’
intention that the FDA Fees shall be prorated for any partial or incomplete period as
contemplated herein. 

ARTICLE III
 
ASSIGNMENT  

        The
Company shall not assign, transfer or otherwise delegate its rights and obligations under
this Agreement to another party without Collard’s prior written consent, which
consent shall not be unreasonably withheld, conditioned or delayed. Any such purported
assignment, transfer or delegation, without Collard’s prior written consent, shall be
null and void; provided, however, that the Company shall have the right to assign this
Agreement without the consent of Collard, and all of its rights and obligations hereunder,
to another party that acquires or succeeds to all or substantially all of the Product Line
or the Company’s business and goodwill; provided further, however, that such
assignment shall not become effective unless and until the Company and such assignee have
notified Collard in writing that such assignee agrees to be bound, in all respects, by the
terms and conditions of this Agreement. Collard may not assign, transfer, pledge or
otherwise delegate its rights under this Agreement without Company’s prior written
consent, which consent shall not be unreasonably withheld, conditioned or delayed. 

3 

ARTICLE IV  
TERM  

        The
term of this Agreement (“Term”) shall begin on January 1, 2007 and shall end
upon the payment to Collard by the Company (or its successor, assigns or affiliates) of
Royalty Fees, and FDA Fees (if applicable), of an amount equaling or exceeding Four
Million Dollars ($4,000,000.00). Thereafter, neither party (or their respective successor,
assigns or affiliates) shall have any further obligation hereunder. 

ARTICLE V
 
REPRESENTATIONS AND WARRANTIES OF THE COMPANY  

        The
Company hereby makes the following representations and warranties to Collard, each of
which is true and correct on the date hereof: 

        5.1.              The
Company is a corporation duly organized, validly existing and in good           standing
under the laws of the State of Delaware. There are no bankruptcy,           insolvency or
similar proceedings pending, or to its knowledge, being           contemplated or
threatened, against it.  

        5.2.              The
Company has all requisite corporate power and authority to enter into this
          Agreement, and to consummate the transactions contemplated hereby. No corporate
          act or proceeding on the part of the Company is necessary to authorize the
          execution and delivery of this Agreement, or the consummation of the
          transactions contemplated hereby, except for such acts and proceedings as have
          been taken and completed prior to the date hereof. The Company’s filings
          with the U.S. Securities and Exchange Commission (the “SEC”) are
          accurate and complete in all material respects.  

ARTICLE VI

REPRESENTATIONS AND WARRANTIES OF COLLARD  

        Collard
hereby makes the following representations and warranties to the Company, each of which is
true and correct on the date hereof: 

        6.1.              Collard
is a limited partnership duly organized, validly existing and in good           standing
under the laws of the State of Nevada. There are no bankruptcy,           insolvency or
similar proceedings pending, or to its knowledge, being           contemplated or
threatened, against it.  

        6.2.              Collard
is the current holder of the Note and has not assigned, transferred or
          otherwise encumbered the Note. Collard has all requisite corporate power and
          authority to enter into this Agreement, and to consummate the transactions
          contemplated hereby. No corporate act or proceeding on the part of Collard is
          necessary to authorize the execution and delivery of this Agreement or the
          consummation of the transactions contemplated hereby, except for such acts and
          proceedings as have been taken and completed prior to the date hereof.  

4 

ARTICLE VII  
DEFAULT  

        A
party shall be in default under this Agreement, in each case, as applicable, if any of the
following shall occur: 

        7.1.              The
Company shall fail to make any Royalty Fee or FDA Fee payment when due
          hereunder; or  

        7.2.              Either
party shall otherwise breach any term of this Agreement.  

        If
any of the foregoing events of default shall occur and is not cured within sixty (60) days
after the giving of written notice thereof to the defaulting party (or ten (10) days in
the case of a failure to make a required payment when due), the other party shall be
entitled to terminate this Agreement and pursue any and all claims for damages. Without
limiting the generality of the foregoing, if the Company shall fail to make any Royalty
Fee or FDA Fee payment when due hereunder and shall not timely cure such failure, then (a)
the remaining balance of the Royalty Fees and FDA fees shall be immediately due and
payable and (b) such amount shall immediately begin accruing interest at the lesser of
eight percent (8%) per annum or the maximum rate permitted by law. For this purpose, the
remaining balance means the remainder of Four Million Dollars ($4,000,000.00) less the
amounts previously paid to Collard under this Agreement. In such event, Collard may elect,
in its sole discretion, for all or a portion of the amount due to be paid in the form of
capital stock of the Company as follows: one share of common stock for each $0.74965 (or
fraction thereof) payable hereunder. The foregoing ratio shall be adjusted to take into
account any stock split, consolidation, dividend or other adjustment to the capital stock
of the Company after the date of this Agreement. 

ARTICLE VIII

 MISCELLANEOUS  

        8.1.    Cancellation
of Note. In consideration for the right to the payments           given hereunder by
the Company to Collard, and notwithstanding anything herein           or elsewhere to the
contrary, Collard acknowledges and agrees that the Note is           hereby cancelled
concurrent with the execution of this Agreement and no further           payments
(whether interest, principal or penalty) shall be due thereunder.           Within a
reasonable period of time after the execution of this Agreement,           Collard shall
either deliver, or caused to be delivered, to the Company the
          originally-executed Note, which Note shall be cancelled by the Company upon
          receipt or shall provide evidence reasonably satisfactory to the Company that
          the Note has been lost or destroyed.  

        8.2.    Entire
Agreement and Modification. This Agreement supersedes all prior           agreements
between the parties with respect to its subject matter and           constitutes (along
with the documents referred to in this Agreement) a complete           and exclusive
statement of the terms of the agreement between the parties with           respect to its
subject matter. This Agreement may not be amended except by a           written agreement
executed by the parties to be charged with the amendment.  

5 

        8.3.    Waiver.
No waiver, forbearance or failure by either party of its right to           enforce any
provision of this Agreement will constitute a waiver or estoppel of           such party’s
right to enforce any other provision of this Agreement or such           party’s
right to enforce such provision in the future. Except as expressly           set forth
herein, the rights and remedies provided in this Agreement or           otherwise
available under applicable law shall be cumulative.  

        8.4.    Further
Assurances. Each of the parties hereto shall execute such           additional
documents and instruments, and take such further action as may be           reasonably
required or desirable to carry out the provisions hereof.  

        8.5.    Successor
and Assigns. The covenants, agreements, terms and conditions           contained in
this Agreement shall inure to the benefit of and be binding upon           all parties
hereto and their respective permitted successors and assigns.  

        8.6.    Severability.
In the event a court of competent jurisdiction determines           any one or more of
the provisions contained in this Agreement to be invalid,           illegal or
unenforceable, this Agreement shall be construed so that the           remaining
provisions contained herein shall not in any way be affected thereby           but shall
remain in full force and effect, and any such invalid, illegal or           unenforceable
provision(s) shall be deemed, without further action by any person           or entity,
to be modified and/or limited to the minimum extent necessary to           render the
same valid and enforceable in such jurisdiction.  

        8.7.    Headings;
Construction. The headings of Articles and Sections in this           Agreement are
provided for convenience only and will not affect its construction           or
interpretation. All references to “Article” or “Section”          refer
to the corresponding Article or Section of this Agreement. All words used           in
this Agreement will be construed to be of such gender or number as the
          circumstances require. Unless otherwise expressly provided, the word
          “including” does not limit the preceding words or terms.  

        8.8.    No
Strict Construction. The language used in this Agreement will be           deemed to
be the language chosen by the parties hereto to express their mutual           intent,
and no rule of strict construction will be applied against any party           hereto by
virtue of having drafted this Agreement or otherwise.  

6 

        8.9.    Arbitration.
This Agreement and its performance shall be governed by and           construed in all
respects in accordance with the laws of the State of Delaware,           disregarding any
principles of conflicts of law that would otherwise provide for           the application
of the substantive law of another jurisdiction. In the event of           a dispute or
difference relating to or in connection with this Agreement, the           parties to the
dispute shall each appoint one nominee/representative who shall           discuss in good
faith to resolve such dispute or difference. In the event such           dispute or
difference is not settled within fifteen (15) days from the           appointment of the
nominee/representative, it shall be referred to arbitration           in accordance with
this Section 8.9. All disputes, controversies or claims           arising out of or
relating to this Agreement, or the breach, termination or           invalidity thereof,
shall be settled by arbitration in Atlanta, Georgia in           accordance with the
rules of the American Arbitration Association           (“AAA”) then in effect.
The tribunal shall consist of three (3)           arbitrators. Each party shall appoint
one (1) arbitrator and the third (3rd)           arbitrator shall be appointed in
accordance with the rules of the AAA. The           parties shall equally share the costs
of the arbitral tribunal’s fees, but           shall bear the costs of their own
legal counsel engaged for the purposes of the           arbitration. The award of the
arbitral tribunal shall be final, conclusive and           binding upon the parties, and
the parties shall be entitled (but not obliged) to           enter judgment thereon in
any one or more of the highest courts having           jurisdiction. The parties agree
that such enforcement shall be subject to the           provisions of the AAA and neither
party shall seek to resist the enforcement of           any award in the State of
California or elsewhere on the basis that the award is           not subject to such
provisions. The award rendered shall apportion the costs of           the arbitration.
The parties further agree that the arbitrators shall also have           the power to
decide on the costs and reasonable expenses (including reasonable           fees of its
counsel) incurred in the arbitration and award interest up to the           date of the
payment of the award. When any dispute is referred to arbitration,           except for
the matters under dispute, the parties shall continue to exercise           their
remaining respective rights and fulfill their remaining respective           obligations
under this Agreement. The provisions of this Section 8.9 shall           survive the
termination of this Agreement.  

        8.10.    Attorneys’ Fees.
In the event of the brining of any action by either           party hereto against the
other party arising out of this Agreement, the party           who is determined to be
the prevailing party shall be entitled to recover from           the other party all
costs and expenses of suit, including reasonable           attorneys’ fees.  

        8.11.    Expenses.
Regardless of whether or not the transactions contemplated           hereby are
consummated, each of the parties shall bear its own expenses and the           fees and
expenses of its counsel and other agents in connection with the           transactions
contemplated hereby.  

        8.12.    Notices.
All necessary notices, demands, requests and other           communications required or
permitted to be given hereunder shall in every case           be in writing and shall be:
(a) delivered personally; (b) sent by registered or           certified mail, in all such
cases with postage prepaid, return receipt           requested; (c) delivered by a
recognized overnight courier service, airbill           prepaid, designated for next
business day delivery; or (d) sent by electronic           facsimile, to the parties at
the addresses as set forth below or at such other           addresses as may be furnished
in writing:  

	 	              If to the Company: 	Auriga
Laboratories, Inc.                                                      
5555 Triangle
Parkway, Suite 300                                                      
Norcross, Georgia
30092                                                      
Attn:  Philip S. Pesin
                                                     
Facsimile:  (678) 282 - 1700

7 

	 	              If to Collard: 	Collard
Family Limited Partnership                                                      
107
Tellingwood Drive                                                      
Morrisville, North
Carolina 27560                                                      
Attn:  Craig Collard
                                                     
Facsimile:  (___) ___-____

        Such
communications shall be deemed delivered: (w) if personally delivered, upon actual
receipt; (x) if sent by registered or certified mail, postage prepaid, return receipt
requested, as of the date of delivery indicated on the receipt issued by the relevant
postal service, or, if the addressee fails or refuses to accept delivery, as of the date
of such failure or refusal; (y) if sent by overnight courier pursuant to this Section,
upon receipt; and (z) if sent by electronic facsimile, the next business day after such
facsimile is transmitted to the facsimile number specified in this Section and evidence of
receipt is received by the sending machine. Any party to this Agreement may change its
address for the purposes of this Agreement by giving notice thereof in accordance with
this Section. 

        8.13.    Preamble;
Recitals. The Recitals set forth in the Preamble hereto are           hereby
incorporated and made a part of this Agreement.  

        8.14.    Counterparts.
This Agreement may be executed in two or more counterparts,           each of which will
be deemed to be an original copy of this Agreement and all of           which, when taken
together, will be deemed to constitute one and the same           agreement.  

[The next page is
the signature page.]  

8 

        IN
WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first
above written. 

	AURIGA LABORATORIES, INC.,	COLLARD FAMILY LIMITED PARTNERSHIP,
	a Delaware corporation	a Nevada limited partnership
	

By:  /s/ Philip S. Pesin	By:  /s/ Craig Collard
	Name:  Philip S. Pesin	Name:  Craig Collard
	Title:  Chief Executive Officer	Title:  General Partner

 

9

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