Document:

Q3'15 EX 10.2 Revolving LOC Note

REVOLVING LINE OF CREDIT NOTE

	
		
	$100,000,000.00
	Monterey, California

	 
	January 22, 2015

FOR VALUE RECEIVED, the undersigned PLANTRONICS, INC., a Delaware corporation ("Borrower") promises to pay to the order of WELLS FARGO BANK, NATIONAL ASSOCIATION ("Bank")  at its office at 50 Ragsdale Drive, Suite 100, Monterey, California, or at such other place as the holder hereof may designate,  in lawful money of the United States of America and in immediately available funds, the principal sum of One Hundred Million Dollars ($100,000,000.00), or so much thereof as may be advanced and be outstanding, with interest thereon, to be computed  on each advance from the date of its disbursement as set forth herein.

DEFINITIONS:

As used herein, the following terms shall have the meanings set forth after each, and any other term defined in this Note shall have the meaning set forth at the place defined:

(a)     "Daily One Month LIBOR" means, for any day, the rate of interest equal to LIBOR then in effect for delivery for a one (I) month period.

(b)     "LIBOR" means (i) for the purpose of calculating effective  rates of interest for loans making reference to LIBOR Periods,  the rate of interest per annum determined  by Bank based on the rate for United States dollar deposits for delivery on the first day of each LIBOR Period for a period approximately equal to such LIBOR Period as reported on Reuters Screen LIBOR01 page (or any successor page) at approximately 11:00 a.m., London time, two London Business Days prior to the first day of such LIBOR Period (or if not so reported, then as determined by Bank from another recognized source or interbank quotation), or (ii) for the purpose of calculating effective  rates of interest for loans making reference to the Daily One Month LIBOR Rate, the rate of interest per annum determined by Bank based on the rate for United States dollar deposits for delivery of funds for one (1) month as reported on Reuters Screen LIBOR01 page (or any successor page) at approximately  11:00 a.m., London time, or, for any day not a London Business Day, the immediately  preceding London Business Day (or if not so reported, then as determined by Bank from another recognized source or interbank quotation).

(c)     "LIBOR Period" means a period commencing  on a New York Business Day and continuing  for 1, 3 or 6 months, as designated  by Borrower, during which all or a portion of the outstanding  principal balance of this Note bears interest determined  in relation to LIBOR; provided however, that (i) no LIBOR Period may be selected for a principal amount less than Five Hundred Thousand Dollars ($500,000.00), (ii) if the day after the end of any LIBOR Period is not a New York Business Day (so that a new LIBOR Period could not be selected  by Borrower to start on such day), then such LIBOR Period shall continue up to, but shall not include, the next New York Business Day after the end of such LIBOR Period, unless the result of such extension would be to cause any immediately following LIBOR Period to begin in the next calendar month in which event the LIBOR Period shall continue  up to, but shall not include, the New York Business Day immediately  preceding the last day of such LIBOR Period, and (iii) no LIBOR Period shall extend beyond the scheduled  maturity date hereof.

(d)     "London Business Day" means any day that is a day for trading by and between banks in Dollar deposits in the London interbank market.

(e)     "New York Business Day" means any day except a Saturday, Sunday or any other day on which commercial banks in New York are authorized or required by law to close.

(f)     "Prime Rate" means at any time the rate of interest most recently announced within Bank at its principal office as its Prime Rate, with the understanding that the Prime Rate is one of Bank's base rates and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto, and is evidenced by the recording thereof after its announcement in such internal publication or publications as Bank may designate.

(g)     "State Business Day" means any day except a Saturday, Sunday or any other day on which commercial  banks in the jurisdiction described in "Governing  Law" herein are authorized or required by law to close.

INTEREST:

(a)     Interest.  The outstanding  principal balance of this Note shall bear interest (computed on the basis of a 365-day year, actual days elapsed, with respect to advances bearing interest determined in relation to the Prime Rate, and computed  on the basis of a 360-day year, actual days elapsed, with respect to all other advances and amounts), as selected by Borrower in accordance with the terms hereof, (i) at a fluctuating  rate per annum determined  by Bank to be one and one tenth percent (1.10%) above the Daily One Month LIBOR Rate in effect from time to time, (ii) at a fluctuating rate per annum determined by Bank to be one and one-half percent (1.50%) below the Prime Rate in effect from time to time, or (iii) at a fixed rate per annum determined  by Bank to be one and one tenth percent (1.10%) above LIBOR in effect on the first day of the applicable LIBOR Period.  When interest is determined in relation to the Prime Rate, each change in the rate of interest hereunder shall become effective on the date each Prime Rate change is announced within Bank.  Bank is hereby authorized to note the date, principal amount and interest rate applicable thereto and any payments made thereon on Bank's books and records (either manually or by electronic entry) and/or on any schedule attached to this Note, which notations shall be prima facie evidence (absent manifest error) of the accuracy of the information noted.

(b)     Selection of Interest Rate Options. Subject to the provisions herein regarding LIBOR Periods and the prior notice required for the selection of a LIBOR interest rate, (i) at any time any portion of this Note bears interest determined  in relation to LIBOR for a LIBOR Period, it may be continued by Borrower at the end of the LIBOR Period applicable thereto so that all or a portion thereof bears interest determined  in relation to the Daily One Month LIBOR Rate, to the Prime Rate or to LIBOR for a new LIBOR Period designated by Borrower, (ii) at any time any portion of this Note bears interest determined in relation to the Daily One Month LIBOR Rate, Borrower may convert all or a portion thereof so that it bears interest determined in relation to the Prime Rate or in relation to LIBOR for a LIBOR Period designated  by Borrower, (iii) at any time any portion of this Note bears interest determined  in relation to the Prime Rate, Borrower may at any time convert all or a portion thereof so that it bears interest determined  in relation to the Daily One Month LIBOR Rate or in relation to LIBOR for a LIBOR Period designated by Borrower, and (iv) at the time an advance is made hereunder, Borrower  may choose to have all or a portion thereof bear interest determined  in relation to the Daily One Month LIBOR Rate, the Prime Rate or to LIBOR for a LIBOR Period designated by Borrower.

To select an interest rate option hereunder determined in relation to LIBOR for a LIBOR Period, Borrower shall give Bank notice thereof that is received by Bank prior to 11:00 a.m. California time on a State Business Day at least two State Business Days prior to the first day of the LIBOR Period, or at a later time during such State Business Day if Bank, at its sole discretion, accepts Borrower's notice and quotes a fixed rate to Borrower. Such notice shall specify: (A) the interest rate option selected by Borrower,  (B) the principal amount subject thereto, and (C) for each LIBOR selection, the length of the applicable LIBOR Period.  If Bank has not received such notice in accordance with the foregoing before an advance is made hereunder or before the end of any LIBOR Period, Borrower shall be deemed to have made a Daily One Month LIBOR Rate interest selection for such advance or the principal amount to which such LIBOR Period applied.  Any such notice may be given by telephone (or such other electronic method as Bank may permit) so long as it is given in accordance with the foregoing and, with respect to each LIBOR selection, if requested by Bank, Borrower  provides to Bank written confirmation  thereof not later than three State Business Days after such notice is given.  Borrower shall reimburse Bank immediately upon demand for any loss or expense (including any loss or expense  incurred by reason of the liquidation or redeployment of funds obtained to fund or maintain a LIBOR borrowing) incurred by Bank as a result of the failure of Borrower to accept or complete a LIBOR borrowing hereunder after making a request therefor.  Any reasonable determination of such amounts by Bank shall be conclusive and binding upon Borrower.  Notwithstanding the foregoing, Borrower shall not maintain at the same time advances outstanding under this Note bearing interest in relation to the Prime Rate and separate advances outstanding under this Note bearing interest in relation to the Daily One Month LIBOR Rate.

(c)     Taxes and Regulatory Costs.  Borrower shall pay to Bank immediately upon demand, in addition to any other amounts due or to become due hereunder, any and all (i) withholdings, interest equalization  taxes, stamp taxes or other taxes (except income and franchise taxes) imposed by any domestic or foreign governmental  authority and related in any manner to LIBOR, and (ii) costs, expenses and liabilities arising from or in connection  with reserve percentages prescribed by the Board of Governors of the Federal Reserve System (or any successor)  for "Eurocurrency  Liabilities" (as defined in Regulation  D of the Federal Reserve Board, as amended),  assessment rates imposed by the Federal Deposit Insurance Corporation, or similar requirements  or costs imposed by any domestic or foreign governmental  authority or resulting from compliance  by Bank with any request or directive (whether or not having the force of law) from any central bank or other governmental  authority and related in any manner to LIBOR.  In determining which of the foregoing are attributable to any LIBOR option available to Borrower hereunder, any reasonable allocation made by Bank among its operations shall be conclusive and binding upon Borrower.

(d)     Payment of Interest.  Interest accrued on this Note shall be payable on the first day of each April, July, October and January, commencing April 1, 2015.

(e)     Default Interest.  From and after the maturity date of this Note, or such earlier date as all principal owing hereunder becomes due and payable by acceleration or otherwise, or at Bank's  option upon the occurrence, and during the continuance of an Event of Default, the outstanding  principal balance of this Note shall bear interest at an increased rate per annum (computed on the basis of a 360-day year, actual days elapsed) equal to four percent (4%) above the rate of interest from time to time applicable to this Note.

BORROWING AND REPAYMENT:

(a)     Borrowing and Repayment.  Borrower may from time to time during the term of this Note borrow, partially or wholly repay its outstanding borrowings, and reborrow, subject to all of the limitations, terms and conditions of this Note and of any document executed in connection with or governing this Note; provided however, that the total outstanding borrowings under this Note shall not at any time exceed the principal amount stated above.  The unpaid principal balance of this obligation at any time shall be the total amounts advanced hereunder by the holder hereof less the amount of principal payments made hereon by or for Borrower,  which balance may be endorsed hereon from time to time by the holder.  The outstanding principal balance of this Note shall be due and payable in full on May 9, 2018.

(b)     Advances.  Advances hereunder, to the total amount of the principal sum stated above, may be made by the holder at the oral or written request of (i) Borrower's Senior Vice President & Chief Financial Officer, Borrower's Senior Director of Tax and Treasury, or Borrower's VP & Corporate Controller, any one acting alone, who are authorized  to request advances and direct the disposition of any advances until written notice of the revocation of such authority is received by the holder at the office designated  above, or (ii) any person, with respect to advances deposited to the credit of any deposit account of Borrower,  which advances, when so deposited, shall be conclusively  presumed to have been made to or for the benefit of Borrower regardless of the fact that persons other than those authorized  to request advances may have authority to draw against such account.  The holder shall have no obligation to determine whether any person requesting an advance is or has been authorized by Borrower.

(c)     Application of Payments.  Each payment made on this Note shall be credited first, to any interest then due and second, to the outstanding principal balance hereof.  All payments credited to principal shall be applied first, to the outstanding principal balance of this Note which bears interest determined in relation to the Daily One Month LIBOR Rate or the Prime Rate, if any, and second, to the outstanding principal balance of this Note which bears interest determined in relation to LIBOR, with such payments applied to the oldest LIBOR Period first.

PREPAYMENT:

(a)         Daily One Month LIBOR Rate and Prime Rate.  Borrower may prepay principal on any portion of this Note which bears interest determined in relation to the Daily One Month LIBOR Rate or the Prime Rate at any time, in any amount and without penalty.

(b)     LIBOR.  Borrower may prepay principal on any portion of this Note which bears interest determined in relation to LIBOR at any time and in the minimum amount of One Hundred Thousand Dollars ($100,000.00); provided however, that if the outstanding principal balance of such portion of this Note is less than said amount, the minimum prepayment amount shall be the entire outstanding principal balance thereof.  In consideration of Bank providing this prepayment option to Borrower, or if any such portion of this Note shall become due and payable at any time prior to the last day of the LIBOR Period applicable thereto by acceleration or otherwise, Borrower shall pay to Bank immediately upon demand a fee which is the sum of the discounted monthly differences for each month from the month of prepayment through the month in which such LIBOR Period matures, calculated as follows for each such month:

		
	(i) 
	Determine the amount of interest which would have accrued each month on the amount prepaid at the interest rate applicable  to such amount had it remained outstanding until the last day of the LIBOR Period applicable  thereto.

		
	(ii) 
	Subtract from the amount determined in (i) above the amount of interest which would have accrued for the same month on the amount prepaid for the remaining term of such LIBOR Period at LIBOR in effect on the date of prepayment for new loans made for such term and in a principal amount equal to the amount prepaid.

		
	(iii) 
	If the result obtained in (ii) for any month is greater than zero, discount that difference by LIBOR used in (ii) above.

Borrower acknowledges that prepayment of such amount may result in Bank incurring additional costs, expenses and/or liabilities,  and that it is difficult to ascertain  the full extent of such costs, expenses and/or liabilities.  Borrower, therefore, agrees to pay the above-described prepayment fee and agrees that said amount represents a reasonable estimate of the prepayment  costs, expenses and/or liabilities of Bank.  If Borrower fails to pay any prepayment  fee when due, the amount of such prepayment fee shall thereafter bear interest until paid at a rate per annum two percent (2.00%) above the Daily One Month LIBOR Rate in effect from time to time (computed on the basis of a 360-day year, actual days elapsed).

EVENTS OF DEFAULT:

This Note is made pursuant to and is subject to the terms and conditions of that certain Credit Agreement between Borrower and Bank dated as of May 9, 2011, as amended from time to time (the "Credit Agreement"). Any defined event of default under the Credit Agreement, shall constitute an "Event of Default" under this Note.

MISCELLANEOUS:

(a)     Remedies.   Upon the occurrence and during the continuance  of any Event of Default, the holder of this Note, at the holder's option, may declare all sums of principal  and interest outstanding hereunder to be immediately  due and payable without presentment, demand,  notice of nonperformance, notice of protest, protest or notice of dishonor, all of which are expressly  waived by Borrower, and the obligation, if any, of the holder to extend any further credit hereunder shall immediately  cease and terminate.  Borrower shall pay to the holder immediately  upon demand the full amount of all payments, advances, charges, costs and expenses, including  reasonable attorneys' fees (to include outside counsel fees and all allocated costs of the holder's in-house counsel), expended  or incurred  by the holder in connection  with the enforcement  of the holder's rights and/or the collection  of any amounts which become due to the holder under this Note, and the prosecution or defense of any action in any way related to this Note, including without limitation, any action for declaratory  relief, whether incurred at the trial or appellate level, in an arbitration  proceeding or otherwise,  and including any of the foregoing incurred in connection  with any bankruptcy  proceeding  (including  without limitation,  any adversary  proceeding, contested  matter or motion brought by Bank or any other person) relating to Borrower or any other person or entity.

(b)     Governing Law.  This Note shall be governed by and construed in accordance with the laws of the State of California.

(c)     Prior Note.  This Note amends, restates and supersedes in its entirety that certain Revolving  Line of Credit Note in the maximum  principal amount of One Hundred Million Dollars ($100,000,000.00), executed by Borrower in favor of Bank and dated May 9, 2011, as such may have been amended or modified from time to time prior to the date hereof.

[Signatures On Next Page]

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

	
		
	PLANTRONICS, INC.

	 
	 

	By:
	/s/ Pam Strayer

	 
	Pamela Strayer

	 
	Senior Vice President & Chief Financial OfficerEX-10.17

 Exhibit 10.17 
  

 
 AMENDED AND RESTATED MASTER AGREEMENT FOR PHARMACEUTICAL DEVELOPMENT SERVICES 

 
  

 
  

					
	1.	  	Parties:	  	 Patheon Pharmaceuticals Inc. (“Patheon”)

2110 East Galbraith Road
 Cincinnati, Ohio
45237-1625

			
		  		  	 Orexigen Therapeutics, Inc. (“Client”)

3344 N. Torrey Pines Ct.
 San Diego, CA 92037

			
	2.	  	Projects:	  	Patheon may agree from time to time to perform the pharmaceutical development services for the Client described in a Project Proposal duly completed and executed by Patheon and the Client in substantially the form attached hereto as
Schedule B.
			
	3.	  	Contract:	  	Upon execution of a Project Proposal by Patheon and Client, this Agreement together with the Project Proposal (including: Part A Project Overview; Part B Pricing and Budget Summary; Part C Capital Requirements; Part D Key Technical
Assumptions; and Part E High Level Timeline) will be a contract binding on the parties (“Contract”).
			
	4.	  	Legal Terms:	  	The Terms and Conditions attached hereto as Schedule A shall apply to each Project Proposal.
			
	5.	  	 Date of

Confidentiality
 Agreement:
	  	February 18, 2010.
			
	6.	  	Date:	  	March 12, 2010

  

									
	Patheon Pharmaceuticals Inc.	 		 	Orexigen Therapeutics, Inc.
					
	By:	 	 /s/ Geoff Glass
	 		 	By:	 	 /s/ Michael A. Narachi

	Name:	 	Geoff Glass	 		 	Name:	 	Michael A Narachi
	Title:	 	Executive Vice President	 		 	Title:	 	President and Chief Executive Officer
					
		 		 		 	By:	 	 /s/ Graham K. Cooper

		 		 		 	Name:	 	Graham K. Cooper
		 		 		 	Title:	 	Chief Financial Officer

  
 Page 1 of
14 

 Schedule A: 

STANDARD TERMS AND CONDITIONS 

FOR 
 PHARMACEUTICAL
DEVELOPMENT SERVICES 
 (Certain capitalized terms used herein but not defined are defined in the Project Proposal) 

 

	1.	Services, Specific Proposals, Personnel, Records and Reports 

  

	 	A.	Services 

 (a) Patheon and Client shall execute a mutually acceptable Project Proposal
when the parties desire to begin the Services set forth therein. If there is a conflict between the terms contained in any Project Proposal and this Contract, the terms of this Contract shall control, unless specifically agreed upon to the contrary
in the Project Proposal. No obligation shall be incurred by either party unless a Project Proposal has been executed by the authorized agents of both parties. 

(b) Patheon will conduct the Services in accordance with the Project Proposal(s), which may be amended from time to time upon the mutual
agreement of the parties. If an amendment requires additional or different work on the part of the Patheon, Patheon may agree to conduct this work and will be paid at Patheon’s then prevailing hourly rates, as agreed upon by Client. Patheon
agrees not to intentionally change or deviate in any material manner from the Project Proposals without Client’s prior written approval. 

(c) The parties acknowledge that while performing the Services additional costs may be incurred by Patheon as a result of unforeseen
procedural changes which do not amount to or require a change in the Project Proposals, but which are deemed necessary by Patheon to successfully perform the Services. If this occurs, Patheon shall obtain the Client’s prior written agreement as
to the necessity and additional cost thereof. 
 (d) Patheon will comply with all applicable Laws (as defined below) while performing the
Services. If applicable, Patheon will perform the Services in compliance with the current good laboratory practices of the appropriate Authority (as defined below). 

(e) For the purposes of this Contract, (i) “Laws” shall mean all applicable laws, statutes, ordinances, regulations,
rules, by-laws, judgments, decrees or orders of any Authority, including, but not limited to, the Federal Food, Drug and Cosmetic Act (as amended from time to time), together with any regulations promulgated thereunder, including current good
manufacturing practices (“cGMPs”) and (ii) “Authority” shall mean any governmental or regulatory authority, department, body or agency or any court, tribunal, bureau, commission or other similar body, whether
federal, state, provincial, county or municipal, including, but not limited to, the United States Food and Drug Administration (the “FDA”). 
  

	 	B.	Specific Proposals 

 (a) Exhibits A, B and C attached hereto contain specific Project
Proposals for Patheon’s Services related to Client’s proposed Contrave 2X Controlled Release Tablets (“Contrave 2X”), Client’s proposed Empatic 2X Controlled Release Mono-Layer Tablets (“Empatic 2X”)
and Client’s proposed Contrave XL Tablets (“Contrave XL”), respectively. 
 (b) Patheon and Client shall execute the
Contrave 2X Project Proposal and commence the Services as of the Effective Date. If Client’s management decides to develop Empatic 2X or Contrave XL or both, Client shall engage Patheon to perform the development Services by executing the
Project Proposal(s) with Patheon as set forth in Exhibits B or C or both. 

  

					
		 	CONFIDENTIAL	 	
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	 	C.	Personnel 

 Patheon will arrange for qualified personnel to support Patheon’s
obligations under this Contract. Patheon represents that none of its employees who are to participate in the Services have been debarred and none of such employees are, to the best of Patheon’s knowledge, under consideration to be debarred by
the FDA from working in or providing services to any pharmaceutical or biotechnology company under the Generic Drug Enforcement Act of 1992, as amended or by any other Authority under any applicable Laws. 

 

	 	D.	Records and Reports. 

 (a) Patheon will keep complete and accurate records of the status
and progress of each Project Proposal, including any more specific requirements which may be set forth in any Project Proposal. 
 (b)
Patheon will furnish a report or data containing information as specified in the Project Proposals. 
 (c) All reports and any supporting
documentation originating with Patheon, in whatever form (e.g., laboratory notebooks, original data, slides, photographs, etc.) are and shall be the Client’s sole and exclusive property. At Client’s cost and expense, if Client requires
Client’s property to be held by Patheon, Patheon shall store Client’s property as agreed upon in the Project Proposals. Upon reasonable advance notice, Client’s representatives shall have reasonable access to this material, and shall
have the right to obtain originals or certified legible photocopies, at the Client’s option, of the raw data and supporting documentation, at no additional expense. 
  

	2.	Payment and Deposit: 

  

	 	A.	Payment 

  

	 	(a)	Client shall pay Patheon for the Services as outlined in this Contract and for any Changes which shall be invoiced separately at Patheon’s then prevailing hourly rates. 

 

	 	(b)	If Client causes any delay to Patheon’s provision of Services for reason within its control (such as a delay in responding to a Patheon inquiry or a delay in the delivery of the active pharmaceutical ingredient
(“API”)), then Patheon shall be entitled to charge the Client for any additional reasonable costs incurred in the provision of the Services as a result of the delay. 

 

	 	(c)	Patheon invoices may be issued upon completion of each milestone set out in the Budget Summary. Client will pay all undisputed invoices within 30 days of the date of confirmed facsimile or email transmission of the
invoice to the facsimile number and/or email address stipulated by the Client. 

  

	 	B.	Deposit (if Applicable as per the Budget Summary) 

  

	 	(a)	Prior to the commencement of the Services, Client shall deliver to Patheon the deposit (“Deposit”) set out in the Budget Summary. 

 

	 	(b)	Deposit shall be held by Patheon until the Services are fully completed or until this Contract expires or is terminated in accordance with Section 4. 

 

	 	(c)	Deposit shall be credited towards the final invoice for the Services and any remaining balance shall be returned to the Client. 

  

	 	(d)	Patheon may apply all or a portion of the Deposit against any undisputed accounts overdue in excess of 60 days from the date of the invoice. 

 

	 	(e)	Patheon may, at its option, suspend all Services until such time as any outstanding invoices have been paid in full and the original amount of the Deposit has been replenished. 

 

	3.	Supply of API and Materials: 

  

	 	(a)	Client will provide Patheon with sufficient amounts of all compounds, materials, or other substances meeting relevant specifications, including the API (“Development Materials”) with which to perform
the Services, as well as such complete and accurate data as is reasonably necessary to apprise Patheon of the stability, proper storage and safe handling requirements of the Development Materials. Patheon agrees that Development Materials shall be
considered Confidential Information (as defined in the Confidentiality Agreement) under this Contract, and further agrees not to analyze or modify the Development Materials except as necessary to perform Services hereunder, without the prior written
consent of Client. 

  

					
		 	CONFIDENTIAL	 	
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	 	(b)	The costs of all third party suppliers’ fees and the purchase of project specific items (such as raw materials, excipients, packaging, special equipment, tooling, change parts, laboratory columns and reagents,
reference standards including those under the applicable United States Pharmacopoeia, the National Formulary, the British Pharmacopoeia, the European Pharmacopoeia or the Japanese Pharmacopoeia) necessary for Patheon to perform the Services shall be
purchased by Patheon and charged to Client at Patheon’s cost plus an additional 15% as a handling charge. Patheon shall obtain Client’s prior written approval for all such expenses in excess of $10,000. 

 

	 	(c)	If applicable, Patheon and the Client will cooperate and provide such assistance to each other as may be reasonably necessary to permit the import of the API and other materials into the country where the Services will
be performed. 

  

	4.	Termination: 

  

	 	(a)	Either party may terminate this Contract if the other party is in material breach of any provisions of this Contract and the other party fails to remedy such breach within 30 days of the date of notice of such breach by
the non-breaching party. 

  

	 	(b)	Client may terminate this Contract or any Project Proposal hereunder immediately for any business reason. 

  

	 	(c)	Any re-scheduling of any part of the Services beyond 120 days requested by Client shall, at Patheon’s option, be deemed to be a termination of the Contract. 

 

	 	(d)	Upon completion or expiry of the Contract or if the Client terminates the Contract for any business reason or if Patheon terminates the Contract because of: (i) Client’s failure to cure any default within the
30 day notice period; or (ii) Client rescheduling any part of the Services beyond the 120 days, then Client shall pay to Patheon: 

  

	 	•	 	any fees and expenses due to Patheon for the Services rendered up to the date of completion, expiry or termination; 

  

	 	•	 	all actual costs incurred by Patheon to complete activities associated with the completion, expiry or termination and close of the Services rendered up to the date of completion, expiry or termination including, without
limitation disposal fees that may be payable in respect of any materials and supplies owned by the Client to be disposed of by Patheon; and 

  

	 	•	 	any additional costs incurred by Patheon in connection with the Services that are required to fulfill applicable regulatory and contractual requirements. 

 

	 	(e)	Client shall arrange for the pickup from the Patheon site of all materials and supplies owned by Client within 5 days after the earlier of the completion, termination or expiration of this Contract. Patheon shall charge
a $30.00 per square foot per month storage fee for all materials and supplies stored at the Patheon site after the fifth day following the completion, termination or expiration of the Contract. 

 

	5.	Intellectual Property: 

  

	 	A.	Inventions 

 (a) For the term of this Contract, Client hereby grants to Patheon a
non-exclusive, paid-up, royalty-free, non-transferable and non-sub licensable license of Client’s Intellectual Property (as defined below) which Patheon must use in order to perform the Services. 

(b) All Inventions (as defined below) and Intellectual Property generated or derived by Patheon while performing the Services, to the extent
it is specific to the development, manufacture, use, and sale of Client’s products or API that are the subject of the Services (including, but not limited to, any new use, new formulation, including those developed pursuant to a Project
Proposal, or any change in the method of producing, testing or storing any product), will be the exclusive property of Client. Patheon will execute such instruments as will be required to evidence or effectuate the Client’s ownership of any
such Inventions or other Intellectual Property, and will cooperate upon reasonable request in the prosecution of patents and other Intellectual Property rights related thereto. 

(c) All Patheon Intellectual Property (as defined below) will be the exclusive property of Patheon. Patheon hereby grants to Client a
worldwide perpetual, irrevocable, non-exclusive, paid-up, royalty-free, transferable and sub licensable license to use the Patheon Intellectual Property used by Patheon to perform the Services to enable Client to develop, manufacture and have
manufactured the product(s) created in connection with 

  

					
		 	CONFIDENTIAL	 	
		 	Page 4 of 14	 	

 
the Project Proposals and the Services and to use, import, export, offer to sell, and sell the same, with full right to sublicense to any third party in connection with the development,
manufacture, sale or distribution of such products. 
 (d) Each party will be solely responsible for the costs of filing, prosecution, and
maintenance of patents and patent applications on its own Inventions. 
 (e) Either party will give the other party written notice, as
promptly as practicable, of all Inventions which can reasonably be deemed to constitute improvements or other modifications of the products or processes or technology owned or otherwise controlled by the party that are related to the Services and/or
the Project Proposal(s). 
 (f) For the purposes of this Contract: 

(i) “Intellectual Property” includes, without limitation, rights in patents, patent applications, formulae,
trade-marks, trade-mark applications, trade-names, Inventions, copyrights, industrial designs, trade secrets, and know how; 

(ii) “Invention” shall mean information about or relating to any innovation, improvement, development,
discovery, computer program, device, trade secret, method, know-how, process, technique or the like, whether or not written or otherwise fixed in any form or medium, regardless of the media on which it is contained and whether or not patentable or
copyrightable; 
 (iii) “Client Intellectual Property” shall mean Intellectual Property generated or derived
by Client before entering into this Contract, or by Patheon while performing any Services or otherwise generated or derived by Patheon in its business which Intellectual Property is specific to the development, manufacture, use, and/or sale of
Client’s product or API that are the subject of the Services (including, but not limited to, any new use, new formulation or any change in the method of producing, testing or storing any such product), including but not limited to (i) any
regulatory filings, formulations, or chemical compositions relating to such products, and (ii) any and all Confidential Information (as defined in the Confidentiality Agreement) of Client, including any chemical structures, composition of
matter rights, process technology and other Inventions owned or controlled by Client; and 
 (iv) “Patheon
Intellectual Property” shall mean Intellectual Property generated or derived by Patheon before performing any Services, Intellectual Property developed by Patheon while performing the Services, or otherwise generated or derived by Patheon
in its business which Intellectual Property is not specific to, or dependent upon, Client’s API or product(s) that are the subject of the Services including, without limitation, Inventions and Intellectual Property which may generally apply to
manufacturing processes or the formulation or development of drug products, drug product dosage forms or drug delivery systems unrelated to the specific requirements such Product(s); 

 

	 	B.	Intellectual Property. 

 Subject to Section 5(A) above, all Client
Intellectual Property will be owned by Client and all Patheon Intellectual Property will be owned by Patheon. Neither party has, nor will it acquire, any interest in any of the other party’s Intellectual Property unless otherwise expressly
agreed to in writing. Neither party will use any Intellectual Property of the other party, except as specifically authorized by the other party or as required for the performance of its obligations under this Contract. Each party hereby acknowledges
that it does not have, and will not acquire any interest in any of the other party’s trademarks or trade names unless otherwise expressly agreed. Each party agrees not to use any trademarks or trade names of the other party, except as
specifically authorized by the other party in writing both as to the names or marks which may be used and as to the manner and prominence of use. All goodwill in any trademarks will inure to the benefit of the trademark owner. Client, in its sole
discretion, will determine the trademarks and trade names owned or licensed by Client to be used in connection with the products related to the Services and/or Project Proposals, including without limitation, the trademarks and trade names which may
appear on the labels, packaging, and any promotional or other materials related to such products. Patheon will use those trademarks and trade names notified by Client to Patheon for use in the labeling and packaging of such products, and Patheon
will use only such notified trademarks and trade names for such purpose. Upon expiration or termination of this Contract, Patheon will immediately cease using all of Client’s trademarks and trade names 

  

					
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	6.	Indemnity: 

  

	 	A.	Consequential Damages. 

 Under no circumstances whatsoever will either party be
liable to the other in contract, tort, negligence, breach of statutory duty, or otherwise for (i) any (direct or indirect) loss of profits, of production, of anticipated savings, of business, or goodwill or (ii) for any other liability,
damage, costs, or expense of any kind incurred by the other party of an indirect or consequential nature, regardless of any notice of the possibility of these damages. 
  

	 	B.	Limitation of Liability. 

 Except for any liability arising under
Section 6(C) and Section 6(E) below, 
  

	 	(a)	If Patheon fails to materially perform any part of the Services in accordance with the terms of this Contract, then Client’s sole remedy, subject to subparagraph (b), shall be to request Patheon to:

  

	 	•	 	repeat that part of the Service at Patheon’s costs provided that Client provides the API; or 

  

	 	•	 	reimburse Client for the price for that part of the Service, excluding the cost of the API. 

  

	 	(b)	Under no circumstances whatsoever shall Patheon reimburse Client for the cost of the API except as may otherwise be agreed in the event of Patheon’s gross negligence or willful misconduct in respect of the API.
Client acknowledges that the Services involve scientific experiments that require the use of judgment and any loss of API in exercising such judgment shall not be regarded as loss due to Patheon’s negligence or willful misconduct

  

	 	C.	Patheon. 

 Patheon agrees to defend, indemnify, and hold Client, its officers,
employees, and agents harmless against any and all losses, damages, costs, claims, demands, judgments and liability to, from and/or in favour of third parties (other than affiliates) resulting from, or relating to (i) a failure by Patheon to
perform the Services in accordance with the Project Proposals, current good laboratory practices, or applicable Laws, as applicable, or (ii) any other breach of this Contract by Patheon, including, without limitation, any representation,
warranty or covenant contained herein, except to the extent that the losses, damages, costs, claims, demands, judgments, and liability are due to the negligence or wrongful act(s) of Client, its officers, employees, agents, or affiliates. 

 

	 	D.	Client. 

 Client agrees to defend, indemnify, and hold Patheon, its officers,
employees, and agents harmless against any and all losses, damages, costs, claims, demands, judgments and liability to, from and in favour of third parties (other than affiliates) resulting from, or relating to (i) any claim of infringement or
alleged infringement of any intellectual property rights of a third party, or any portion thereof, or (ii) any claim of personal injury or property damage to the extent that the injury or damage is the result of a breach of this Contract by
Client, including, without limitation, any representation, warranty or covenant contained herein, except to the extent that the losses, damages, costs, claims, demands, judgments, and liability are due to the negligence or wrongful act(s) of
Patheon, its officers, employees, agents or affiliates. 
  

	 	E.	Indemnification Procedure 

 If a claim occurs for which a party has an indemnification
obligation under Section 6(C) or 6(D) above, the indemnified party (the “Indemnitee”) will: (a) promptly notify the indemnifying party (the “Indemnitor”) in writing of the claim; (b) use commercially
reasonable efforts to mitigate the effects of the claim; (c) reasonably cooperate with the Indemnitor in the defense of the claim; and (d) permit the Indemnitor to control the defense and settlement of the claim, with counsel reasonably
satisfactory to the Indemnitee, all at the Indemnitor’s cost and expense. If the Indemnitor assumes the defense of the claim, the Indemnitee may participate in such defense with the Indemnitee’s own counsel who will be retained, at the
Indemnitee’s sole cost and expense; provided, however, that neither the Indemnitor nor the Indemnitee will consent to the entry of any judgment or enter into any settlement with respect to the claim without the prior written consent of the
other party, which consent will not be unreasonably withheld or delayed. If the Indemnitee withholds consent in respect of a judgment or settlement involving only the payment of 

  

					
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money by the Indemnitor and which would not involve any stipulation or admission of liability or result in the Indemnitee becoming subject to injunctive relief or other relief, the Indemnitor
will have the right, upon written notice to the Indemnitee within five days after receipt of the Indemnitee’s written denial of consent, to pay to the Indemnitee, or to a trust for its or the applicable third party’s benefit, such amount
established by such judgment or settlement in addition to all interest, costs or other charges relating thereto, together with all attorneys’ fees and expenses incurred to such date for which the Indemnitor is obligated under this Contract, if
any, at which time the Indemnitor’s rights and obligations with respect to such claim will cease. The Indemnitor will not be liable for any settlement or other disposition of a claim by the Indemnitee which is reached without the written
consent of the Indemnitor. 
  

	 	F.	No Warranty 

 NEITHER PARTY MAKES ANY WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED,
BY FACT OR LAW, OTHER THAN THOSE EXPRESSLY SET FORTH IN THIS CONTRACT. PATHEON MAKES NO WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE OR WARRANTY OF MERCHANTABILITY IN RESPECT OF THE CLIENT’S PRODUCT. 

 

	7.	Regulatory Filings: 

  

	 	(a)	Client shall have the sole responsibility for filing of all documents with the applicable regulatory authority (such as the United States Food and Drug Administration (“FDA”), the Health Products and
Food Branch of Health Canada or the European Medicine Evaluation Agency) (the “Regulatory Authority”) and to take any other actions that may be required for the receipt of approval from the Regulatory Authority for the commercial
manufacture of the Client’s Product. 

  

	 	(b)	At least 21 days prior to filing any documents with the Regulatory Authority that incorporate data generated by Patheon, Client shall provide Patheon with a copy of the documents incorporating such data so as to give
Patheon the opportunity to verify the accuracy and regulatory validity of such documents as it relates to the Patheon-generated data. 

  

	 	(c)	If Patheon is selected as the commercial site of manufacture of the Product which is the subject of the Services under this Contract, then at least 21 days prior to filing with the Regulatory Authority any documentation
which is or is equivalent to the FDA’s Chemistry and Manufacturing Controls (“CMC”) portion of the New Drug Application or of the Abbreviated New Drug Application, as the case may be, Client shall provide Patheon with a copy of
the CMC portion as well as all supporting documents which have been relied upon to prepare the CMC portion. Such disclosure shall permit Patheon to verify that the CMC portion accurately describes the Services that Patheon has performed and the
manufacturing processes that Patheon will perform pursuant to this Contract. 

  

	8.	Shipping (if applicable): 

 Shipments (if applicable) of Client’s Product
shall be made EXW (as defined in INCOTERMS 2000) Patheon’s shipping point unless otherwise mutually agreed. Risk of loss or of damage to such Product shall transfer to the Client when the Product is loaded onto the carrier’s vehicle by
Patheon for shipment at the EXW point. The Product shall be transported in accordance with the Client’s instructions. 
  

	9.	Miscellaneous: 

  

	 	A.	Assignment 

 Neither this Contract, nor any of either party’s rights hereunder, may
be assigned or otherwise transferred by either party without the prior written consent of the other party, which consent shall not be unreasonably withheld. 
  

	 	B.	Force Majeure 

 Except for payment obligations, neither party will be responsible for
delay or failure in performance resulting from acts beyond the reasonable control and without the fault or negligence of such party, including, but not limited to, strikes or other labor disturbances, lockouts, quarantines, communicable disease
outbreaks, riots, wars, acts of terrorism, fires, floods, storms, interruption of or delay in transportation, defective equipment, lack of or inability to obtain fuel, power or components or compliance with any order or regulation of any government
entity. 
  

	 	C.	Survival 

 Any termination or expiration of this Contract shall not affect any
outstanding obligations or payments due hereunder prior to such termination or expiration, nor shall it prejudice any other remedies that the parties 

  

					
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may have under this Contract. The Confidentiality Agreement and sections 4, 5, 6 and 7 of the Contract shall survive the expiration or termination of this Contract. 

 

	 	D.	Independent Contractors 

 The parties are independent contractors and this Contract shall
not be construed to create between Patheon and the Client any other relationship such as, by way of example only, that of employer-employee, principal, agent, joint-venturer, co-partners or any similar relationship. 

 

	 	E.	Confidentiality 

  

	 	(a)	The Confidentiality Agreement entered into between the parties shall apply to all confidential information about the parties and the Services to be conducted under this Contract and such Confidentiality Agreement is
deemed to be incorporated herein by reference. If the Confidentiality Agreement expires or terminates prior to the expiration or termination of this Contract, then the terms of the Confidentiality Agreement shall nonetheless continue to govern the
parties’ obligations of confidentiality for the term of this Contract and for 5 years thereafter. 

  

	 	(b)	Client covenants that it will use commercially reasonable efforts to obtain confidential treatment of certain mutually agreed upon terms of this Contract pursuant to Rule 24b-2 promulgated by the Securities and Exchange
Commission (the “SEC”) under the Securities Exchange Act of 1934, as amended. Client will give Patheon a reasonable opportunity to review and comment upon the requested confidential treatment of this Contract prior to filing with
the SEC. 

  

	 	F.	Other Terms 

 No terms, provisions or conditions of any purchase order or other business
form or written authorization used by Client or Patheon will have any effect on the rights, duties or obligations of the parties, or otherwise modify, this Contract, regardless of any failure of Client or Patheon to object to such terms, provisions,
or conditions unless such document specifically refers to this Contract and is signed by both parties. 
  

	 	G.	Insurance 

 Each party shall maintain during the term of this Contract general liability
and product liability insurance. Either party may request evidence of such insurance. 
  

	 	H.	Entire Agreement 

 This Contract constitutes the complete agreement between the parties
with respect to this subject matter and supersedes all other prior agreements and understandings, whether written or oral, including the Master Agreement for Pharmaceutical Development Services between the parties dated February 16, 2007 as
amended May 9, 2008. Any modifications, amendment or supplement to this Contract must be in writing and signed by authorized representatives of both parties. 
  

	 	I.	Facsimile 

 This Contract may be signed in counterparts and by facsimile.

  

	 	J.	Choice of Law 

 This Contract is governed by the laws of the State of New York without
regard to any conflicts-of-law principle that directs the application to another jurisdiction’s law. 
  

	 	K.	Affiliates of Patheon 

 Client agrees that the Services may be performed by an Affiliate
of Patheon at the manufacturing facility where the Affiliate resides. Each Affiliate performing the Services will execute the appropriate Project Proposal which will bind the Affiliate to the terms and conditions contained herein. For purposes of
this Agreement, “Affiliate” means an entity controlling, controlled by or under common control with Patheon, where control is defined as ownership, directly or indirectly, of more than 50% of the voting rights in the entity. 

  

					
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 Exhibit 10.17 
  

 
 AMENDED AND RESTATED MASTER AGREEMENT FOR PHARMACEUTICAL DEVELOPMENT SERVICES 

 
  

 
 Schedule B: 

[FORM OF PROJECT PROPOSAL] 

PROJECT PROPOSAL 
 UNDER

 AMENDED AND RESTATED MASTER AGREEMENT FOR PHARMACEUTICAL DEVELOPMENT SERVICES 

DATED MARCH 12, 2010 

PROPOSAL # • 
  

 
  

 

					
			
	1.	  	Product:	  	— (“Product”)
			
	2.	  	Indication:	  	—
			
	3.	  	Description of Services:	  	See Project Scope (Part A).
			
	4.	  	Payment and Currency:	  	See Budget Summary (Part B).
			
	5.	  	API Reimbursement Amount per Clause 6.B.(b) of Schedule A to Master Agreement:	  	[Not applicable] or [$— per kilogram to a maximum of $—]
			
	6.	  	Effective Date:	  	—, 200—
			
	7.	  	Term:	  	From the Effective Date until completion by Patheon of the pharmaceutical development services under this Project Proposal.
			
	8.	  	Date:	  	—, 200—

  

									
	Patheon Pharmaceuticals Inc.	 		 	Orexigen Therapeutics, Inc.
					
	By:	 	  
	 		 	By:	 	  

					
	Name:	 	  
	 		 	Name:	 	  

					
	Title:	 	  
	 		 	Title:	 	  

  
 Page 9 of
14 

 Part A: Project Overview 

[Project Overview to be inserted here] 

  

					
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 Part B: Pricing and Budget Summary 

[Pricing and Budget Summary for Project to be inserted here] 

  

					
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 Part C: Capital Requirements 

[Capital Requirements (if applicable) to be inserted here] 

  

					
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 Part D: Key Technical Assumptions 

[Key Technical Assumptions to be inserted here] 

  

					
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 Part E: High Level Timeline 

[High Level Timeline to be inserted here] 

  

					
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