Document:

Exhibit 10.1

 

Dated
14th February 2014

 

————

 

Share
purchase agreement of Imaging Equipment limited

 

between

 

Advanced Accelerator Applications
SA

 

and

 

Imaging Equipment (Holdings)
Limited

 

and

 

Mr Nicholas Stevens

 

and

 

Mrs Helen Ruth Stevens

 

and

 

Mr Prabhjeevan Singh Virk

 

and

 

Mr Victor Griffin

 

and

 

Mr Richard Huggins

 

 

Piper Smith Watton LLP

29 Great Peter Street,

London,

SW1P 3LW

T: 020 7222 9900

F: 020 7222 9901

W: www.pswlaw.co.uk

 

Ref: SE/A00660.1

 

    	 

    	 

    

 

Contents

 

	Clause	 	 
	1.	Interpretation	1
	2.	Sale and purchase	5
	3.	Purchase price	6
	4.	Completion	8
	5.	Warranties	8
	6.	Limitations on claims	10
	7.	Property	11
	8.	Tax covenant	11
	9.	Indemnities	11
	10.	Commitment of Mr Nicholas Stevens and Mr Prabhjeevan Singh Virk	12
	11.	Confidentiality and announcements	12
	12.	Further assurance	14
	13.	Assignment	15
	14.	Entire agreement	15
	15.	Variation and waiver	16
	16.	Costs	16
	17.	Notices	16
	18.	Interest	19
	19.	Severance	19
	20.	Agreement survives Completion	19
	21.	Third party rights	19
	22.	Successors	20
	23.	Counterparts	20
	24.	Right and remedies	20
	25.	Governing law and jurisdiction	20
	 	 	 

	Schedule	 	 
	 	 	 
	Schedule 1	Particulars of Warrantors & Liability for Claims	21
	 	 	 
	Schedule 2	Particulars of the Company	22
	 	 	 
	Schedule 3	Completion	23
	 	 	 

	Part 1.	What the Seller shall deliver to the Buyer at Completion	23
	 	 	 
	Part 2.	Matters for the board meetings at Completion	24
	 	 	 

	Schedule 4	Warranties	25
	 	 	 

	Part 1.	General Warranties	25
	1.	Power to sell the Sale Shares	25
	2.	Shares in the Company	25
	3.	Constitutional and corporate documents	26
	4.	Information	27

 

    	 

    	 

    

  

	5.	Compliance with laws	27
	6.	Licences and consents	27
	7.	Insurance	28
	8.	Disputes and investigations	28
	9.	Defective Products and Services	29
	10.	Contracts and trading	29
	11.	Effect of sale of the Sale Shares	30
	12.	Transactions with the Seller and the Warrantors	30
	13.	Finance and guarantees	31
	14.	Insolvency	31
	15.	Accounts	32
	16.	Changes since Accounts Date	33
	17.	Assets	33
	18.	Financial and other records	34
	19.	Plant and Equipment and Stock in Trade	34
	20.	Intellectual property	35
	21.	Information technology	35
	22.	Employment	36
	23.	Retirement benefits	38
	24.	Property	38
	25.	Environment	42
	 	 	 
	Part 2.	Tax Warranties	44

 

	Schedule 5	Tax covenant	49
	 	 	 
	Schedule 6	Net Financial Position	63

	1.	Definitions	63
	2.	Accounts	64
	3.	Expert determination	66
	 	 	 

	Schedule 7	The Properties	68

 

    	 

    	 

    

 

THIS AGREEMENT is dated 14th February 2014

 

Parties

 

		(1)	Imaging Equipment (Holdings) Limited, incorporated and registered in England and Wales with company
number 8616092 whose registered office is at The Barn Manor Farm, Church Lane, Chilcompton, Radstock, Somerset, BA3 4HP, UK (the
Seller)

 

		(2)	The several persons whose names and addresses are set out in Schedule 1 (the Warrantors).

 

		(3)	Advanced Accelerator Applications SA incorporated and registered in France with company number
441 417 110 BOURG EN BRESSE TCR whose registered office is at 20 rue Diesel, 01630 Saint Genis Pouilly, France (the Buyer).

 

Background

 

		(A)	The Company is a private company limited by shares incorporated in England and Wales.

 

		(B)	The Company has an issued share capital of £100 divided into 2,000 ordinary shares of £0.05
each.

 

		(C)	Further particulars of the Company at the date of this agreement are set out in Schedule 2.

 

		(D)	The Seller is the legal and beneficial owner of the legal and beneficial title to all of Sale Shares
as defined below.

 

		(E)	The Seller has agreed to sell and the Buyer has agreed to buy the Sale Shares subject to the terms
and conditions of this agreement.

 

		(F)	The Warrantors have agreed to enter into the warranties and indemnities set out in this agreement

 

Agreed terms

 

		1.	Interpretation

 

		1.1	The definitions and rules of interpretation in this clause apply in this agreement.

 

Accounts: the financial
statements of the Company as at and to the Accounts Date, comprising the individual accounts of the Company including in the balance
sheet, profit and loss account together with the notes on them, the cash flow statement and directors' report (a copy of which
are included in the Disclosure Bundle).

 

Accounts Date: 31st
December 2013.

 

Bonus Scheme: the
non contractual bonus scheme currently carried out by the Company in respect of its sales employees and consultants

 

Business: the business
carried on by the Company, namely a supplier of medical products.

 

Business Day: a day other
than a Saturday, Sunday or public holiday in England and France when banks in London and Paris are open for business.

 

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Buyer's Solicitors: Piper
Smith Watton LLP, 29 Great Peter Street, London, SW1P 3LW, United Kingdom.

 

CAA 2001: the Capital
Allowances Act 2001.

 

Claim: a claim for breach
of any of the Warranties

 

Company: Imaging Equipment
Limited, a company incorporated and registered in England and Wales with company number 4189193 whose registered office is at The
Barn Manor Farm, Church Lane, Chilcompton, Radstock, Somerset, BA3 4HP, UK, further details of which are set out in Schedule 2.

 

Completion: completion
of the sale and purchase of the Sale Shares in accordance with this agreement.

 

Completion Date: the date
of this agreement.

 

Connected: has, in relation
to a person, the meaning given in section 1122 of the CTA 2010.

 

Consideration Shares:
the ordinary shares of in the capital of the Buyer to be allotted and issued to the Seller in accordance with clause 3.1 in consideration
for the sale of the Sale Shares.

 

Control: shall be as defined
in section 1124 of the Corporation Tax Act 2010, and the expression change of Control shall be construed accordingly.

 

CTA 2009: the Corporation
Tax Act 2009.

 

CTA 2010: the Corporation
Tax Act 2010.

 

Director: each person
who is a director or shadow director of the Company as set out in Schedule 2.

 

Disclosed: fairly and
fully disclosed (with sufficient details to identify the nature and scope of the matter disclosed) in or under the Disclosure Letter.

 

Disclosure Bundle: the
bundle of documents, in agreed form, annexed to the Disclosure Letter.

 

Disclosure Letter: the
letter from the Seller to the Buyer, in agreed form, with the same date as this agreement that is described as the Disclosure Letter,
including the Disclosure Bundle.

 

Distribution Agreements: the
distribution agreements to which the Company is a party to and which are Disclosed.

 

Employee: has the meaning
set out in paragraph 22.1 of Part 1 of Schedule 4.

 

Employment Contracts: means
the employment contracts with the Buyer (in the agreed form) to be entered into by each of Mr Nicholas Stevens, Mrs Helen Ruth
Stevens and Mr Prabhjeevan Singh Virk

 

Encumbrance: any interest
or equity of any person (including any right to acquire, option or right of pre-emption) or any sale, mortgage, charge, pledge,
lien, assignment, hypothecation, security interest, title retention or any other security agreement or arrangement.

 

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Group: in relation to
a company, that company, any or any Holding Company from time to time of that company, and any Subsidiary from time to time of
a Holding Company of that company. Each company in a Group is a member of the Group.

 

Holding Company: has the
meaning given in clause 1.11.

 

ICTA 1988: the Income
and Corporation Taxes Act 1988.

 

IHTA 1984: the Inheritance
Tax Act 1984.

 

Indemnity Claim: a claim
for breach of any of the indemnities in clause 9.

 

Intellectual Property Rights:
has the meaning given in paragraph 20.1 of Part 1 of Schedule 4.

 

ITA 2007: the Income Tax
Act 2007.

 

ITEPA 2003: the Income
Tax (Earnings and Pensions) Act 2003.

 

Pension Scheme: Scottish
Widows Stakeholder Pension Plan (Group Number P000049924.

 

Previously-owned Land and
Buildings: has the meaning given in paragraph 24.1 of Part 1 of Schedule 4.

 

Properties: has the meaning
given in paragraph 24.1 of Part 1 of Schedule 4.

 

Purchase Price: the consideration
for the Sale Shares to be paid by the Buyer on Completion in accordance with clause 3.

 

Purple Batch Loan: means
any sums due and outstanding (including any interest) from the Company to Purple Batch Limited

 

Sale Shares: 2,000 ordinary
shares of £0.05 each in the Company, all of which have been issued and are fully paid, and which comprise the whole of the
issued share capital of the Company.

 

Seller’s Solicitors:
Harris + Harris Solicitors of 11 Stony Street, Frome, Somerset, BA11 1BU, United Kingdom.

 

Share For Share Exchange:
the Share for Share Exchange carried out by the Warrantors, the Seller and the Company on
18th July 2013, whereby each of the Warrantors exchanged their shares in the Company for shares in the Seller.

 

Subsidiary: has the meaning
given in clause 1.11.

 

Subsidiary undertaking:
a subsidiary undertaking as defined in section 1162 of the Companies Act 2006.

 

Substantiated Claim: a
Claim that has been:

 

		(a)	agreed in writing by the parties to the Claim, both as to liability and quantum; or

 

		(b)	finally adjudicated by a court of competent jurisdiction and no right of appeal lies in respect
of such adjudication, or the parties are debarred by passage of time or otherwise from making an appeal.

 

Tax or Taxation: has the
meaning given in paragraph 1.1 of Schedule 5.

 

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Tax Covenant: the tax
covenant set out in Schedule 5.

 

Tax Warranties: the Warranties
set out in Part 2 of Schedule 4.

 

Taxation Authority: has
the meaning given in paragraph 1.1 of Schedule 5.

 

Taxation Statute: has
the meaning given in paragraph 1.1 of Schedule 5.

 

TCGA 1992: the Taxation
of Chargeable Gains Act 1992.

 

TIOPA 2010: the Taxation
(International and Other Provisions) Act 2010.

 

TMA 1970: the Taxes Management
Act 1970.

 

Transaction: the transaction
contemplated by this agreement or any part of that transaction.

 

VATA 1994: the Value Added
Tax Act 1994.

 

Warranties: the warranties
given pursuant to clause 5 and set out in Schedule 4.

 

Warrantors: those persons
whose names are set out in Schedule 1.

 

		1.2	Clause, Schedule and paragraph headings shall not affect the interpretation of this agreement.

 

		1.3	References to clauses and Schedules are to the clauses of and Schedules to this agreement and references
to paragraphs are to paragraphs of the relevant Schedule.

 

		1.4	The Schedules form part of this agreement and shall have effect as if set out in full in the body
of this agreement. Any reference to this agreement includes the Schedules.

 

		1.5	A reference to this agreement or to any other agreement or document referred to in this
agreement is a reference to this agreement or such other agreement or document as varied or novated in accordance with its
terms from time to time.

 

		1.6	Unless the context otherwise requires, words in the singular shall include the plural and the plural
shall include the singular.

 

		1.7	Unless the context otherwise requires, a reference to one gender shall include a reference to the
other genders.

 

		1.8	A person includes a natural person, corporate or unincorporated body (whether or not having
separate legal personality) and that person's personal representatives, successors and permitted assigns.

 

		1.9	A reference to a party shall include that party's personal representatives, successors and
permitted assigns.

 

		1.10	A reference to a company shall include any company, corporation or other body corporate,
wherever and however incorporated or established.

 

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		1.11	A reference to a Holding Company or a Subsidiary means a holding company or a subsidiary
(as the case may be) as defined in section 1159 of the Companies Act 2006 and for the purposes only of the membership requirement
contained in sections 1159(1)(b) and (c), a company shall be treated as a member of another company even if its shares in that
other company are registered in the name of:

 

		(a)	another person (or its nominee), by way of security or in connection with the taking of security;
or

 

		(b)	its nominee.

 

		1.12	A reference to the Warrantors shall include a reference to each of them.

 

		1.13	A reference to writing or written includes fax and e-mail (unless otherwise expressly
provided in this agreement).

 

		1.14	Any words following the terms including, include, in particular, for example
or any similar expression shall be construed as illustrative and shall not limit the sense of the words, description, definition,
phrase or term preceding those terms.

 

		1.15	Where the context permits, other and otherwise are illustrative and shall not limit
the sense of the words preceding them.

 

		1.16	A reference to a statute or statutory provision is a reference to it as amended, extended or re-enacted
from time to time provided that, as between the parties, no such amendment, extension or re-enactment made after the date of this
agreement shall apply for the purposes of this agreement to the extent that it would impose any new or extended obligation, liability
or restriction on, or otherwise adversely affect the rights of, any party.

 

		1.17	A reference to a statute or statutory provision shall include all subordinate legislation made
from time to time under that statute or statutory provision.

 

		1.18	Any obligation on a party not to do something includes an obligation not to allow that thing to
be done.

 

		2.	Sale and purchase

 

		2.1	On the terms of this agreement, the Seller shall sell and the Buyer shall buy, with effect from
Completion, the Sale Shares with full title guarantee, free from all Encumbrances and together with all rights that attach (or
may in the future attach) to the Sale Shares including, in particular, the right to receive all dividends and distributions declared,
made or paid on or after the Completion Date.

 

		2.2	The Buyer is not obliged to complete the purchase of any of the Sale Shares unless the purchase
of all the Sale Shares is completed simultaneously.

 

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		3.	Purchase price

 

		3.1	The Purchase Price is calculated as a sum equivalent to three times the Company’s EBITDA
for the financial year ended 31st March 2103, being £402,654, giving a Purchase Price of £1,207,962. The
Purchase Price shall be satisfied on Completion by the allotment and issue to the Seller, credited as fully paid, of 294,743 Consideration
Shares.

 

		3.2	In addition to the Purchase Price the Seller shall be entitled to a further payment of a sum equal
to the Net Financial Position (as defined in and calculated in accordance with Schedule 6) which will be:

 

		(a)	a cash amount payable to the Seller where the Net Financial Position is a positive; or

 

		(b)	a cash amount payable to the Buyer where the Net Financial Position is a negative.

 

		3.3	The Purchase Price shall be deemed to be reduced by the amount of any payment made to the Buyer
for each and any:

 

		(a)	Claim; or

 

		(b)	Indemnity Claim; or

 

		(c)	claim under the Tax Covenant; or

 

		(d)	any payment due to the Buyer in the event of a negative Net Financial Position.

 

For the avoidance
of doubt any repayment due to the Buyer as a result of a Claim, an Indemnity Claim, a claim under the Tax Covenant or a payment
due upon a negative Net Financial Position shall be made in cash notwithstanding that Purchase Price is satisfied by the issue
of Consideration Shares.

 

		3.4	All cash payments to be made to the Seller under this agreement shall be made in sterling by electronic
transfer of immediately available funds to the Seller’s Solicitors (who are irrevocably authorised by the Seller to receive
the same). Payment to the Seller’s Solicitors in accordance with this clause shall be a good and valid discharge of the obligations
of the Buyer to pay the sum in question to the Seller, and the Buyer shall not be concerned to see the application of the monies
so paid.

 

		3.5	For the purposes of clause 3.1,
the value of each Consideration Share shall be €5 (Five Euro) and the rate of sterling to Euro conversion is agreed as being
£1 to €1.22.

 

		3.6	The Seller undertakes to the Buyer that it shall not, during the period of 24 months following
Completion (the Lock-in Period), sell, transfer of otherwise dispose of, or create any Encumbrance over, any of the Consideration
Shares (or any interest in them), or enter into any agreement to do so, except in accordance with clause 3.7 below

 

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		3.7	Nothing in this clause 3 shall prevent the Seller from selling, transferring or otherwise disposing
of any Consideration Shares (or any interest in them: with the prior written consent of the Buyer.

 

		3.8	In addition each of the Warrantors hereby undertake and covenant that they shall not, for a period
of 24 months, sell, transfer, assign or otherwise dispose or create any Encumbrance over the shares that they currently hold in
the Seller.

 

		3.9	The Buyer acknowledges that the shares held by the Seller in Nuada Medical Limited ("the Nuada
Shares") do not form part of this transaction, and that the Company has executed transfers of the Nuada shares from the Company
to the Seller but that the transfer of the shares may not have been registered as at the date of Completion.   The Buyer
agrees that in respect of the Nuada Shares:-

 

		(a)	they are not covered by the Warranties given by the Seller and the Warrantors in Schedule 4 of this Agreement.

 

		(b)	that no value is to be attributed to them in the calculation of the Net Financial Provision under Schedule 6 of this Agreement.

 

		(c)	the Buyer shall allow the Company to promptly execute and deliver such documents and perform such acts as the Seller may reasonably
require from time to time for the purpose of giving full effect to the transfer of the Nuada Shares, save that any Stamp Duty or
any other tax, duty or levy in respect of the transfer of the Nuada Shares shall be payable by the Seller and / or the Warrantors
and neither the Buyer nor the Company shall have any obligations in this regard.

 

		(d)	The Buyer undertakes to the Seller that, if and for so long as the Company remains the registered holder of any of the Nuada
Shares after Completion, it shall procure that the Company:

 

		i)	holds such Nuada Shares together with all dividends and any other distributions of profits, surplus
or other assets in respect of such Nuada Shares and all rights arising out of or in connection with them, in trust for the Seller;

 

		ii)	at all times after Completion, deal with and dispose of such Nuada Shares, dividends, distributions,
assets and rights as the Seller shall direct;

 

		iii)	exercise all voting rights attached to such Nuada Shares in such manner as the Seller shall direct;
and

 

		iv)	if required by the Seller, execute all instruments of proxy or other documents as may be necessary
to enable the Seller to attend and vote at any meeting of the Company.

 

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		4.	Completion

 

		4.1	Completion shall take place on the Completion Date at the offices of the Buyer's Solicitors (or
at any other place as may be agreed in writing by the parties).

 

		4.2	At Completion:

 

		(a)	the Seller shall:

 

		(i)	deliver or cause to be delivered to the Buyer the documents and evidence set out in Part 1 of Schedule
3;

 

		(ii)	procure that a board meeting of the Company is held at which the matters set out in Part 2 of Schedule
3 are carried out; and

 

		(iii)	deliver any other documents referred to in this agreement as being required to be delivered by
the Seller; and

 

		(iv)	cause each of Mr Nicholas Stevens, Helen Ruth Stevens and Mr Prabhjeevan Singh Virk to deliver
the Employment Contracts.

 

		(b)	the Buyer shall (subject to the Seller complying with its obligations in clause 4.2(a)) settle
the Purchase Price in accordance with clause 3.1 and deliver to the Seller:

 

		(i)	deliver to the Seller a certified copy of the Board resolutions passed by the Buyer authorising
the Transaction and giving general authority to the directors of the Buyer to allot the Consideration Shares on Completion;

 

		(ii)	deliver to the Seller a share certificate in respect of the Consideration Shares duly executed
by the Buyer; and

 

		(iii)	a signed acknowledgement of the Disclosure Letter.

 

		4.3	As soon as possible after Completion, the Seller shall send to the Buyer all records, correspondence,
documents, files, memoranda and other papers relating to the Company which are not kept at any of the Properties and which are
not required to be delivered at Completion.

 

		5.	Warranties

 

		5.1	The Seller and each of the Warrantors acknowledge that the Buyer is entering into this agreement
on the basis of the Warranties.

 

		5.2	The Seller and each of the Warrantors warrant to the Buyer that except as Disclosed, each Warranty
is true, accurate and not misleading on the date of this agreement.

 

		5.3	Without prejudice to the right of the Buyer to claim on any other basis or take advantage of any
other remedies available to it, if any Warranty is breached or proves

 

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to be untrue
or misleading, the Seller and each of the Warrantors shall pay to the Buyer on demand:

 

		(a)	the amount necessary to put the Company into the position they would have been in if the Warranty
had not been breached or had not been untrue or misleading;

 

		(b)	all costs and expenses (including, without limitation, damages, legal and other professional fees
and costs, penalties, expenses and consequential losses whether arising directly or indirectly) incurred by the Buyer or the Company
as a result of such breach or of the Warranty being untrue or misleading; and

 

		(c)	any amount necessary to ensure that, after any Taxation of a payment made in accordance with clause
5.3(a) or clause 5.3(b), the Buyer is left with the same amount it would have had if the payment was not subject to Taxation.

 

		5.4	Warranties qualified by the expression so far as the Seller or the Warrantors are aware or
any similar expression are deemed to be given to the best of the knowledge, information and belief of the Seller and each Warrantor
after they have made all reasonable and proper enquiries of:

 

		(a)	The other Warrantors, directors, company secretary and employees of the Company and Seller

 

		(b)	The accountants and legal advisers for the Company and the Seller.

 

		5.5	Each of the Warranties is separate and, unless otherwise specifically provided, is not limited
by reference to any other Warranty or any other provision in this agreement.

 

		5.6	Except for the matters Disclosed, no information of which the Buyer, its agents or its advisers
has knowledge (in each case whether actual, constructive or imputed), or which could have been discovered (whether by investigation
made by the Buyer or on its behalf), shall prejudice or prevent any Claim or reduce the amount recoverable under any Claim.

 

		5.7	The Seller agrees that the supply of any information by or on behalf of the Company, or any of
its employees, directors, agents or officers (Officers) to the Seller or their advisers
in connection with the Warranties, the Disclosure Letter or otherwise shall not constitute a warranty, representation or guarantee
as to the accuracy of such information in favour of the Seller. The Seller unconditionally and irrevocably waives all and any rights
and claims that it may have against any of the Company, the or the Officers on whom that Seller has, or may have, relied in connection
with the preparation of the Disclosure Letter, or agreeing the terms of this agreement, and further undertakes to the Buyer not
to make any such claims.

 

		5.8	The rights and remedies of the Buyer in respect of any Claim or claim under the Tax Covenant shall
not be affected by Completion.

 

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		6.	Limitations on claims

 

		6.1	Save as provided in clause 6.6, the provisions of this clause 6 limit the liability of the Seller
and the Warrantors in relation to any Claim and (where specifically provided)

 

		6.2	The aggregate liability of the Seller and the Warrantors for all Substantiated Claims shall not
exceed an amount equal to the Purchase Price. Notwithstanding that the Purchase Price shall be satisfied by the issue of the Consideration
Shares, any Claim shall be settled by the Seller and the Warrantors in cash.

 

		6.3	The Seller and the Warrantors shall not be liable for a Claim liability in respect of such Claim
(together with any connected Claims) exceeds £5,000.

 

For the purposes of this clause
6.3, a Claim is connected with another Claim if the Claims arise from the same or related event or set of circumstances, or relate
to the same or similar subject matter.

 

		6.4	The Seller and the Warrantors shall not be liable for a Claim unless notice in writing summarising
the nature of the Claim (in so far as it is known to the Buyer) and, as far as is reasonably practicable, the amount claimed, has
been given by or on behalf of the Buyer to the Seller:

 

		(a)	in the case of a claim made under the Tax Warranties, on or before the seventh anniversary of Completion;
or

 

		(b)	in any other case, prior to the expiry of the period of eighteen ( 18) months commencing on the
Completion Date.

 

		6.5	The Seller and the Warrantors shall not be liable for a Claim to the extent that the Claim:

 

		(a)	relates to matters Disclosed; or

 

		(b)	relates to any matter specifically and fully provided for in the Accounts.

 

		6.6	Nothing in this clause 6 applies to exclude or limit the liability of the Seller and the Warrantors:

 

		(a)	to the extent that a Claim arises or is delayed as a result of dishonesty, fraud, wilful misconduct
or wilful concealment by the Seller and / or the Warrantors, their agents or advisers; or

 

		(b)	in respect of a breach of any of the warranties in paragraph 1.1, paragraph 1.2, paragraph 1.3,
paragraph 2.1, paragraph 2.2 or paragraph 2.3 of Part 1 of Schedule 4.

 

		6.7	Neither the Seller nor any of the Warrantors shall plead the Limitation Act 1980 in respect of
any claims made under the Tax Warranties or Tax Covenant up to seven years after the Completion Date.

 

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		6.8	The Warrantors shall be severally liable to any Claim to the extent set out in column 2 of Schedule
1.

 

		7.	Property

 

The provisions of Schedule 7
apply in this agreement in relation to the Properties.

 

		8.	Tax covenant

 

The provisions of Schedule 5
apply in this agreement in relation to Taxation.

 

		9.	Indemnities

 

		9.1	Each of the Seller and the Warrantors shall indemnify the Buyer and the Company against, and shall
pay to the Buyer a sum equal to, all liabilities, costs, expenses, damages and losses (including but not limited to any direct,
indirect or consequential losses, loss of profit, loss of reputation and all interest, penalties and legal costs and all other
reasonable professional costs and expenses) suffered or incurred by the Buyer or the Company arising out of or in connection with
any of the following matters:

 

		(a)	Any liability to Taxation, fine or penalty together with any loss, damage or costs arising from
or related to the Share for Share Exchange and any need for remedial action to be carried out in respect of the same in order to
ensure that the Seller has proper legal and beneficial title to the Sale Shares;

 

		(b)	Any obligation, liability, cost, loss or damage relating to any outstanding amount due and payable
in respect of the Purple Batch Loan agreement;

 

		(c)	Any liability, cost, loss or damage incurred by the Company relating to any Employee or Worker
of the Company claiming that the Bonus Scheme is a contractual right in accordance with their terms of employment or engagement
with the Company (including without limitation any ongoing obligation of the Company to make payments in accordance with or connected
to the Bonus Scheme) and gives them any right or entitlement to a payment for any period after 31st March 2014 in excess
of the bonus scheme operated by the Buyer in equivalent business at the date hereof;

 

		(d)	Any obligation, liability (including any liability to tax or National Insurance Contributions),
cost, loss or damage incurred by the Company relating to payments made to any service company of any director, employee or sales
person of the Company (including but not limited to Purple Batch Limited and Medtech Consultants Limited) and any failure to disclose
these payments as related party transactions by virtue of the Companies Act 2006 (or any other relevant legislation or regulation);
and

 

		(e)	Any liability, cost, loss or damage incurred by the Company relating to the sale or grant of licences
of FRACTIONcheck and / or ImagePro software to third parties.

 

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		9.2	The Warrantors shall be severally liable to any Claim under 9.1 above to the extent set out in
column 2 of Schedule 1.

 

		9.3	In addition Mr Nicholas Stevens hereby indemnifies the Buyer with respect to all and any cost,
loss or damage relating to a breach by him of his obligations in clause 10.1 below

 

		9.4	In addition Mr Prabhjeevan Singh Virk hereby indemnifies the Buyer with respect to all and any
cost, loss or damage relating to a breach by him of his obligations in clause 10.1 below.

 

		9.5	In addition Mrs Helen Ruth Stevens hereby indemnifies the Buyer with respect to all and any cost,
loss or damage relating to a breach by her of her obligations in clause 10.1 below.

 

		9.6	Any payment made by the Seller and / or the Warrantors in respect of an Indemnity Claim shall include:

 

		(a)	an amount in respect of all costs and expenses reasonably incurred by the Buyer and the Company
in bringing the relevant Indemnity Claim; and

 

		(b)	any amount necessary to ensure that, after any Taxation of the payment, the Buyer and the Company
(as the case may be) is left with the same amount it would have had if the payment was not subject to Taxation.

 

		10.	Commitment of Mr Nicholas Stevens, Mrs Helen Ruth Stevens and Mr Prabhjeevan Singh Virk

 

		10.1	Each of Mr Nicholas Stevens, Mrs Helen Ruth Stevens and Mr Prabhjeevan Singh Virk hereby agree
that it is a material term of this agreement that they each continue to be involved in the management of the Company after Completion.
In consideration of the Buyer entering into this agreement each of Mr Nicholas Stevens, Mrs Helen Ruth Stevens and Mr Prabhjeevan
Singh Virk hereby separately covenant with the Buyer to continue to carry out the management of the Company for a period of 3 years
and 6 months from Completion as may be required by the Buyer. In addition each of Mr Nicholas Stevens, Mrs Helen Ruth Stevens and
Mr Prabhjeevan Singh Virk agree that it is a condition of Completion that they enter into the Employment Contracts on Completion.

 

		11.	Confidentiality and announcements

 

		11.1	The Seller and each of the Warrantors separately undertake to each of the Buyer and the Company
that he shall:

 

		(a)	keep confidential the terms of this agreement and all confidential information or trade secrets
in his possession concerning the business, affairs, customers, clients or suppliers of the Company or any member of the Buyer's
Group;

 

    	12

    	 

    

  

		(b)	not disclose any of the information referred in clause 11.1(a) in whole or in part to any third
party, except as expressly permitted by this clause 11; and

 

		(c)	not make any use of any of the information referred in clause 11.1(a), other than to the extent
necessary for the purpose of exercising or performing his rights and obligations under this agreement.

 

		11.2	Nothing in this agreement shall be construed as imposing on the Buyer an obligation to keep confidential,
or restrict its use after Completion, of any information relating to the Company.

 

		11.3	Notwithstanding any other provision of this agreement, no party shall be obliged to keep confidential
or to restrict its use of any information that:

 

		(a)	is or becomes generally available to the public (other than as a result of its disclosure by the
receiving party or any person to whom it has disclosed the information in accordance with clause 11.4(a) in breach of this agreement);
or

 

		(b)	was, is or becomes available to the receiving party on a non-confidential basis from a person who,
to the receiving party's knowledge, is not bound by a confidentiality agreement with the disclosing party or otherwise prohibited
from disclosing the information to the receiving party.

 

		11.4	Any party may disclose any information that it is otherwise required to keep confidential under
this clause 11:

 

		(a)	to those of its employees, officers, consultants, representatives or advisers who need to know
such information to enable them to advise on this agreement, or to facilitate the Transaction, provided that the party making the
disclosure informs the recipient of the confidential nature of the information before disclosure and procures that each recipient
shall, in relation to any such information disclosed to him, comply with the obligations set out in this clause 11 as if they were
that party. The party making a disclosure under this shall, at all times, be liable for the failure of its recipients to comply
with the obligations set out in this clause 11; or

 

		(b)	with the prior consent in writing of all the other parties; or

 

		(c)	if such information relates to one party only, with the prior consent in writing of that party;
or

 

		(d)	to the extent that the disclosure is required:

 

		(i)	by the laws of any jurisdiction to which that party is subject; or

 

		(ii)	by an order of any court of competent jurisdiction, or any regulatory, judicial, governmental or
similar body, or any Taxation Authority or securities exchange of competent jurisdiction; or

 

    	13

    	 

    

  

		(iii)	to make any filing with, or obtain any authorisation from, a regulatory, governmental or similar
body, or any Taxation Authority or securities exchange of competent jurisdiction; or

 

		(iv)	to protect that party's interest in any legal proceedings,

 

PROVIDED that in each case
(and to the extent it is legally permitted to do so) the party making the disclosure gives the other parties as much notice of
such disclosure as possible and, where notice of disclosure is not prohibited and is given in accordance with this clause, it takes
into account the reasonable requests of the other parties in relation to the content of such disclosure.

 

		11.5	Subject to clause 11.6, clause 11.7 and clause 11.8, no party shall make, or permit any person
to make, any public announcement, communication or circular (announcement) concerning
this agreement or the Transaction without the prior written consent of the other parties (such consent not to be unreasonably withheld
or delayed).

 

		11.6	Nothing in clause 11.5 shall prevent any party from making any announcement required by law or
any governmental or regulatory authority (including, without limitation, any relevant securities exchange), or by any court or
other authority of competent jurisdiction provided that the party required to make the announcement consults with the other parties
and takes into account the reasonable requests of the other parties in relation to the content of such announcement before it is
made.

 

		11.7	The parties shall cooperate and coordinate with each other with regard to the issue of a press
release in agreed form immediately after Completion.

 

		11.8	The Buyer may, at any time after Completion announce its acquisition of the Sale Shares to any
employees, clients, customers or suppliers of the Company or any other member of the Buyer's Group.

 

		11.9	The obligations and liability of the Seller and the Warrantors under this clause 11 shall be several
and extend only to any loss or damage arising out of their own breaches.

 

		12.	Further assurance

 

		12.1	The Seller and the Warrantors shall (at their own expense) promptly execute and deliver such documents
and perform such acts as the Buyer may reasonably require from time to time for the purpose of giving full effect to this agreement.

 

		12.2	The Seller undertakes to the Buyer that, if and for so long as it remains the registered holder
of any of the Sale Shares after Completion, it shall:

 

    	14

    	 

    

  

		(a)	hold such Sale Shares together with all dividends and any other distributions of profits, surplus
or other assets in respect of such Sale Shares and all rights arising out of or in connection with them, in trust for the Buyer;

 

		(b)	at all times after Completion, deal with and dispose of such Sale Shares, dividends, distributions,
assets and rights as the Buyer shall direct;

 

		(c)	exercise all voting rights attached to such Sale Shares in such manner as the Buyer shall direct;
and

 

		(d)	if required by the Buyer, execute all instruments of proxy or other documents as may be necessary
to enable the Buyer to attend and vote at any meeting of the Company.

 

		13.	Assignment

 

		13.1	Subject to the further provisions of this clause 13, no party shall assign, transfer, mortgage,
charge, declare a trust of, or deal in any other manner with any or all of its rights and obligations under this agreement (or
any other document referred to in it).

 

		13.2	Each party confirms it is acting on its own behalf and not for the benefit of any other person.

 

		13.3	The Buyer may assign or transfer its rights (but not its obligations) under this agreement (or
any document referred to in this agreement) to another member of its Group for so long as that company remains a member of the
Buyer's Group. The Buyer shall procure that such assignee assigns any rights assigned to it in accordance with this clause
13 back to the Buyer immediately before it ceases to be a member of the Buyer's Group.

 

		13.4	If there is an assignment or transfer of the Buyer's rights in accordance with clause 13.3:

 

		(a)	the Seller and the Warrantors may discharge their obligations under this agreement to the Buyer
until they receive notice of the assignment; and

 

		(b)	the assignee may enforce this agreement as if it were named in this agreement as the Buyer, subject
that any liability to an assignee cannot exceed the liability that would have existed to the Buyer and that the benefit of warranties
can only be assigned by the Buyer subject to the disclosures and limitations on liability in this Agreement, but the Buyer shall
remain liable for any obligations under this agreement.

 

		14.	Entire agreement

 

		14.1	This agreement (together with the documents referred to in it) constitute the entire agreement
between the parties and supersede and extinguish all previous discussions, correspondence, negotiations, drafts, agreements, promises,
assurances, warranties,

 

    	15

    	 

    

  

representations and understandings
between them, whether written or oral, relating to its subject matter.

 

		14.2	The Buyer acknowledges that in entering into this agreement, and any documents referred to in it,
the Buyer does not rely on, and shall have no rights or remedies in respect of, any statement, representation, assurance or warranty
(whether made innocently or negligently) that is not set out in this agreement.

 

		15.	Variation and waiver

 

		15.1	No variation of this agreement shall be effective unless it is in writing and signed by the parties
(or their authorised representatives).

 

		15.2	A waiver of any right or remedy under this agreement or by law is only effective if it is given
in writing and is signed by the person waiving such right or remedy. Any such waiver shall apply only to the circumstances for
which it is given and shall not be deemed a waiver of any subsequent breach or default.

 

		15.3	A failure or delay by any person to exercise any right or remedy provided under this agreement
or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise
of that or any other right or remedy.

 

		15.4	No single or partial exercise of any right or remedy provided under this agreement or by law shall
prevent or restrict the further exercise of that or any other right or remedy.

 

		15.5	A party that waives a right or remedy provided under this agreement or by law in relation to one
party, or takes or fails to take any action against that party, does not affect its rights in relation to any other party.

 

		15.6	The Buyer may take action against, grant time or other indulgence to, or release or compromise
in whole or part the liability of, any one or more of the Seller and the Warrantors in respect of any warranty, indemnity, representation
or other obligation under this agreement without affecting the liability of any of the either the Seller or any of the Warrantors
who are liable (whether jointly and severally or otherwise) in respect of that warranty, indemnity, representation or other obligation.

 

		16.	Costs

 

Except as expressly provided
in this agreement, each party shall pay its own costs and expenses incurred in connection with the negotiation, preparation and
execution of this agreement (and any documents referred to in it).

 

		17.	Notices

 

		17.1	For the purposes of this clause 17, but subject to clause 17.7, notice includes any other communication.

 

    	16

    	 

    

  

		17.2	A notice given to a party under or in connection with this agreement:

 

		(a)	shall be in writing and in English;

 

		(b)	shall be signed by or on behalf of the party giving it;

 

		(c)	shall be sent to the relevant party for the attention of the contact and to the address or fax
number specified in clause 17.3 (as the case may be), or such other address, fax number or person as that party may notify to the
others in accordance with the provisions of this clause 17;

 

		(d)	shall be:

 

		(i)	delivered by hand; or

 

		(ii)	sent by fax; or

 

		(iii)	sent by pre-paid first class post, recorded delivery or special delivery; or

 

		(iv)	sent by airmail or by reputable international overnight courier (if the notice is to be served
by post to an address outside the country from which it is sent); and

 

		(e)	unless proved otherwise is deemed received as set out in clause 17.5.

 

		17.3	The addresses and fax numbers for service of notices on the Seller, the Warrantors and the Buyer
are:

 

		(a)	Seller

 

		(i)	address: as set out above

 

		(ii)	for the attention of: Nicholas Stevens

 

		(iii)	fax number: such fax number as may be supplied from time to time

 

		(b)	Buyer

 

		(i)	address: as set out above

 

		(ii)	for the attention of: Stefano Buono

 

		(iii)	fax number: +33 450 99 30 89

 

		(c)	Mr Nicholas Stevens

 

		(i)	address: as set out in Schedule 1

 

		(ii)	fax number: such fax number as may be supplied from time to time

 

		(d)	Mrs Helen Ruth Stevens

 

		(i)	address: as set out in Schedule 1

 

		(ii)	fax number: such fax number as may be supplied from time to time

 

    	17

    	 

    

  

		(e)	Mr Richard Huggins

 

		(i)	address: as set out in Schedule 1

 

		(ii)	fax number: such fax number as may be supplied from time to time

 

		(f)	Mr Prabhjeevan Singh Virk

 

		(i)	address: as set out in Schedule 1

 

		(ii)	fax number: such fax number as may be supplied from time to time

 

		(g)	Mr Victor Griffin

 

		(i)	address: as set out in Schedule 1

 

		(ii)	fax number: such fax number as may be supplied from time to time

 

		17.4	A party may change its details for service of notices as specified in clause 17.3 or Schedule 1
(as the case may be) by giving notice to each of the other parties. Any change notified pursuant to this clause shall take effect
at 9.00 am on the later of:

 

		(a)	the date (if any) specified in the notice as the effective date for the change; or

 

		(b)	five (5) Business Days after deemed receipt of the notice of change.

 

		17.5	Delivery of a notice is deemed to have taken place (provided that all other requirements in this
clause have been satisfied):

 

		(a)	if delivered by hand, on signature of a delivery receipt or at the time the notice is left at the
address; or

 

		(b)	if sent by fax, at the time of transmission; or

 

		(c)	if sent by pre-paid first class post, recorded delivery or special delivery to an address in the
UK, at 9.00 am on the second Business Day after posting; or

 

		(d)	if sent by pre-paid airmail to an address outside the country from which it is sent, at 9.00 am
on the fifth Business Day after posting; or

 

		(e)	if sent by reputable international overnight courier to an address outside the country from which
it is sent, on signature of a delivery receipt or at the time the notice is left at the address; or

 

		(f)	if deemed receipt under the previous paragraphs of this clause 17.5 would occur outside business
hours (meaning 9.00 am to 5.30 pm Monday to Friday on a day that is not a public holiday in the place of receipt), at 9.00 am on
the day when business next starts in the place of deemed receipt. For the purposes of this clause, all references to time are to
local time in the place of deemed receipt.

 

    	18

    	 

    

  

		17.6	To prove service, it is sufficient to prove that:

 

		(a)	if delivered by hand or by reputable international overnight courier, the notice was delivered
to the correct address; or

 

		(b)	if sent by fax, a transmission report was received confirming that the notice was successfully
transmitted to the correct fax number; or

 

		(c)	if sent by post or by airmail, the envelope containing the notice was properly addressed, paid
for and posted.

 

		17.7	This clause 17 does not apply to the service of any proceedings or other documents in any legal
action or, where applicable, any arbitration or other method of dispute resolution.

 

		17.8	A notice given under or in connection with this agreement is not valid if sent by e-mail.

 

		18.	Interest

 

If a party fails to make any
payment due to any other party under this agreement by the due date for payment, then the defaulting party shall pay interest on
the overdue amount at the rate of 5% per annum above Barclays Bank's base rate from time to time. Such interest shall accrue on
a daily basis from the due date until actual payment of the overdue amount, whether before or after judgment. The defaulting party
shall pay the interest together with the overdue amount.

 

		19.	Severance

 

If any provision or part-provision
of this agreement is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary
to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be
deemed deleted. Any modification to or deletion of a provision or part-provision under this clause shall not affect the validity
and enforceability of the rest of this agreement.

 

		20.	Agreement survives Completion

 

This agreement (other than obligations
that have already been fully performed) remains in full force after Completion.

 

		21.	Third party rights

 

		21.1	Except as expressly provided in clause 21.2, a person who is not a party to this agreement shall
not have any rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this agreement.

 

    	19

    	 

    

  

		21.2	The following provisions are intended to benefit future buyers of the Sale Shares and (to the extent
that they are identified in the relevant clauses as recipients of rights or benefits under that clause), the Company and the Officers
(as defined in clause 5.7), and shall be enforceable by each of them to the fullest extent permitted by law:

 

		(a)	Clause 5(Warranties) and Schedule 4 (subject to clause 6 (Limitations));

 

		(b)	Clause 8 (Tax Covenant) and Schedule 5;

 

		(c)	Clause 9 (Indemnities);

 

		(d)	Clause 10 (Obligations of Mr Nicholas Stevens, Mrs Helen Ruth Stevens and Mr Prabhjeevan Singh
Virk)

 

		(e)	Clause 11 (Confidentiality and Announcements); and

 

		(f)	Clause 18 (Interest).

 

		21.3	The rights of the parties to terminate, rescind or agree any variation, waiver or settlement under
this agreement are not subject to the consent of any other person.

 

		22.	Successors

 

This agreement (and the documents
referred to in it) are made for the benefit of the parties and their successors and permitted assigns, and the rights and obligations
of the parties under this agreement shall continue for the benefit of, and shall be binding on, their respective successors and
permitted assigns.

 

		23.	Counterparts

 

This agreement
may be executed in any number of counterparts, each of which when executed shall constitute a duplicate original, but all the counterparts
shall together constitute the one agreement.

 

		24.	Right and remedies

 

Except as expressly provided
in this agreement, the rights and remedies provided under this agreement are in addition to, and not exclusive of, any rights or
remedies provided by law.

 

		25.	Governing law and jurisdiction

 

		25.1	This agreement and any dispute or claim arising out of or in connection with it or its subject
matter or formation (including non-contractual disputes or claims) shall be governed by and construed in accordance with the law
of England and Wales.

 

		25.2	Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction
to settle any dispute or claim arising out of or in connection with this agreement or its subject matter or formation (including
non-contractual disputes or claims).

 

This agreement
has been entered into on the date stated at the beginning of it.

 

    	20

    	 

    

  

	
        Signed by Nicholas Stevens, a director,

        for and on behalf of

        IMAGING EQUIPMENT 

        (HOLDINGS) LIMITED
	 	
        /s/ Nicholas Stevens

        Nicholas Stevens

	 	 	 
	 	 	 
	Signed by NICHOLAS STEVENS	 	/s/ Nicholas Stevens
	 	 	 
	 	 	 
	Signed by HELEN RUTH STEVENS	 	/s/ Helen Ruth Stevens
	 	 	 
	 	 	 
	Signed by PRABHJEEVAN SINGH VIRK	 	/s/ Prabhjeevan Singh Virk
	 	 	 
	 	 	 
	Signed by VICTOR GRIFFEN	 	/s/ Victor Griffen
	 	 	 
	 	 	 
	Signed by RICHARD HUGGINS	 	/s/ Richard Huggins
	 	 	 
	 	 	 
	Signed by Stefano Buono, general 

manager,	 	/s/ Stefano Buono

Stefano Buono
	
        for and on behalf of ADVANCED 

        ACCELERATOR APPLICATIONS 

        SA
	 	

 

    	21Exhibit 10.10

 

CONFIDENTIAL TREATMENT REQUESTED UNDER RULE
406 UNDER THE SECURITIES ACT OF 1933, AS AMENDED.

 

[*] INDICATES OMITTED
MATERIAL THAT IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST FILED SEPARATELY WITH THE COMMISSION. THE OMITTED MATERIAL HAS
BEEN FILED SEPARATELY WITH THE COMMISSION.

 

LICENSE AGREEMENT

 

This agreement made and entered into this 16
day of June, 2015 (the “Effective Date”) is among ADVANCED ACCELERATOR APPLICATIONS INTERNATIONAL a corporation organized
and existing under the laws of Switzerland, with its principal office at 4 rue de la tour de l’Ile, 1208 Geneva, Switzerland
(“AAA”) and FUJIFILM RI Pharma Co., Ltd., a corporation organized and existing under the laws of Japan, with
its principal office at 14-1, Kyobashi 2-chome, Chuo-ku, Tokyo, Japan (“FRI”), AAA and FRI being referred to
as each a “Party” and collectively the “Parties”.

 

WHEREAS

 

WHEREAS AAA is an European pharmaceutical
corporation specialized in the development of innovative diagnostic and therapeutic products.

 

WHEREAS AAA is part of the Group of
Advanced Accelerator Applications, with its mother company Advanced Accelerator Applications SA, located in France, which either
directly or through its Affiliates, manufactures and distributes [177Lutetium] DOTA0-Tyr3-Octreotate (“LuDOTATATE”)
with Trademark “Lutathera” (the “Product”) for clinical use to feed its phase III multi centric
study in view to obtain the marketing authorization in Europe.

 

WHEREAS AAA is in charge of the marketing
and commercialization of the Product for AAA’s Group and project to commercialize the Product in different countries, including
Japan.

 

WHEREAS, FRI is a wholly owned subsidiary
of FUJIFILM Corporation.

 

WHEREAS, FRI has for main business activities
the research, development, manufacture, sale, export and import of radiopharmaceuticals/non-radiopharmaceuticals and radio-labeled
compound.

 

WHEREAS, in that context, the Parties
have entered into the discussions in order to evaluate the main conditions and terms of such relationship for the business of commercialization
of the Product in the Territory.

 

WHEREAS, AAA and FRI have signed a term
sheet on November 17th and 28th, 2014 (the “Term Sheet”) that defined the scope and the terms of their business
relationship for the development, distribution, commercialization of the Product within the Field and throughout the Territory
by FRI as a holder of Marketing Authorization (as further defined).

 

    	 	 	 

     

    

 

NOW THEREFORE, in reliance upon the terms and
conditions set forth in the Term Sheet, and in consideration of the mutual agreements herein contained, the Parties agree as follows:

 

    	 	2	 

     

    

 

		1.	Definitions.

 

Words used in singular shall include the plural
and vice versa except where the content requires otherwise.

 

Under this Agreement, the following terms have
the following meanings, except where the context otherwise requires:

 

		(a)	“Affiliate” shall mean any company or entity that is directly or indirectly
controlled by, controlling, or under common control with one of the Parties to this Agreement. For the purpose of this definition,
the terms “control”, “controlled by” shall mean the possession, direct or indirect, of more than fifty per
cent (50%) of the outstanding voting securities or voting interest or otherwise of an entity, or such other relationship as in
fact results in actual control over the management, business and activities of a company or entity.

 

		(b)	“Agreement” means this agreement comprising its clauses, its schedules attached
to it and any amendment(s) thereof, if any.

 

		(c)	“Business Day” shall mean a day other than Saturday, Sunday or any day on which
commercial banks located in the Territory are authorized or obliged to close by law in the Territory.

 

		(d)	“CDA” shall mean the separate CONFIDENTIALITY AND NON DISCLOSURE AGREEMENT entered
into between the Parties as of November 7, 2013 attached hereto in Schedule 6 which covers all Confidential Information under the
Agreement.

 

		(e)	“Commercially Reasonable Efforts” shall mean the efforts, expertise and resources
normally used by the Party for a product owned by it or to which it has rights, which is of similar market potential at a similar
stage in its product life, taking into account issues of safety, and efficacy, product profile, difficulty in developing the product,
development history of successes or failures, the competitiveness of the marketplace for resulting Product, the proprietary position
of the product, the regulatory structure involved, and the potential profitability of the product.

 

		(f)	“Confidential Information” shall have the same meaning provided in the CDA
attached in Schedule 6.  Nevertheless for clarity, Confidential Information includes any information that is (i) disclosed
by the Disclosing Party in writing and is marked as “confidential” at the time of disclosure, or (ii) disclosed by
the Disclosing Party in any other manner, that is identified as confidential at the time of disclosure and is also designated as
confidential in a writing delivered to the Receiving Party within fifteen (15) days of the disclosure and “affiliates”
in the CDA shall have the same meaning with Affiliate defined herein. Such Confidential Information may include, without limitation,
in relation to the Parties or their Affiliates, trade secrets, know-how, inventions, technical data, research results or specifications,
testing methods, clinical trial data information, protocols and results, information regarding proprietary compounds or agents,
business or financial information, research and development (including but not limited to Development activities), product
and marketing plans, and customer and supplier information.

 

    	 	3	 

     

    

  

		(g)	“Contractual Year” means the 12-month periods ending on March 31 or any stub
period thereof at the commencement of the Agreement or the expiration or termination of the Agreement.

 

		(h)	“Develop” or “Development” shall mean all activities required
to obtain Marketing Authorization of the Product in the Territory, including but not limited to Preclinical Development, Clinical
Development and CMC/Process Development. All these various steps are defined in Schedule 3 attached hereto and made a part thereof
by reference.

 

		(i)	“Field” shall mean treatment of tumors bearing somatostatin receptors including
but not limited to neuroendocrine tumors (NETs). For the avoidance of doubt, any NETs, whether primary or metastatic, whether functional
or non-functional, shall be included in this definition.

 

		(j)	“FRI Data Package” shall mean non-clinical data, clinical data, quality data,
and any other related information generated and controlled by FRI at any time and related to the Product, including without limitation,
protocols, data analyses and reports for the Study, and pharmacology, toxicology, absorption, distribution, metabolism and excretion
(ADME) and safety information or regulatory information related to the Product.

 

		(k)	“FRI Know-How” shall mean all information controlled as of the Effective Date
or thereafter during the term of the Agreement by FRI and/or its Affiliate(s), in each case that is used by FRI with respect to
the Product or incorporated into Development or commercialization of the Product by FRI at any time during the term of the Agreement
and necessary or useful for the research, Development, use, importation, distribution or sale of the Product, including the FRI
Data Package.

 

		(l)	“Initial Term” shall mean the period of the first ten (10) years after date
of the issuance of the first Marketing Authorization for the purpose of Royalty terms as stipulated in Article 7.2 hereof. It is
understood between the Parties that the Initial Term of ten (10) years is based on that the Product is expected to have ten (10)
years of data exclusivity upon obtaining of the Marketing Authorization subject to an orphan drug designation. For the avoidance
of doubt, any change of approved matters during the Initial Term such as specified in Section 18.1 will not affect such Initial
Term definition.

 

		(m)	“LuDOTATATE Patents” shall mean all the Japanese patents and patent applications
in the name of an AAA’s Affiliate which are listed in Schedule 1 attached hereto and made a part thereof by reference, and
all the Japanese patents which issue in respect of such patent applications. Any additional Japanese patent applications relating
to the Product and Files that AAA or its Affiliates may decide to make, and any patents which grant will stem thereon, shall be
included within the LuDOTATATE Patents. AAA shall be responsible for registration and maintenance of LuDOTATATE Patents in the
Territory until legal expiration.

 

		(n)	“LuDOTATATE Know-How” shall mean information, data, and drawings concerning
the

 

    	 	4	 

     

    

 

formulation, the
method of use and the process for manufacture of the Product, and information and data concerning registration, toxicity tests,
biological tests, metabolic tests, analytical and quality control methods, pharmaceutical studies and clinical trials relating
to the Products.

 

		(o)	“Lutathera Trademarks” shall mean both housemarks (word and device) and with
brand name “Lutathera” relating to the Product as listed in Schedule 2 and under which the Product is to be sold in
the Territory. AAA shall be responsible for registration and maintenance of Lutathera Trademarks in the Territory during the term
of the Agreement.

 

		(p)	“Management Committee” shall mean the committee to be formed by the Parties
as described in Section 10.1 (a).

 

		(q)	“Marketing Authorization” shall mean an official document issued by the competent
drug regulatory authority for the purpose of marketing or free distribution of a product after evaluation for safety, efficacy
and quality. Within the context of the Agreement the herein considered Marketing Authorization
shall apply to the Product within the Territory.

 

		(r)	“Net Sales” shall mean the gross sales of the Product sold by FRI to any Third
Party during the Royalty Computation Period, less (i) actual credited allowances or repayments to such third party for reasons
of rejection, defect or return of Product; (ii) freight, postage insurance costs and custom duties paid by FRI for transporting
Product to FRI; and (iii) value added taxes (sales taxes) paid by FRI directly related to the transportation or sales of Product.
It is understood that the Japan Radioisotope Association (the “JRIA”) is the only practical Third Party to which
FRI will sell the Product and the selling price of the Product from FRI to JRIA is assumed approximately [*]% of “Net NHI
Price” of the Product.

 

		(s)	“Net NHI Price” means the drug price for the Product established under the National
Health Insurance Drug Price List (“NHI Price”) net of (i.e. deducted) consumption tax (Japanese TVA).

 

		(t)	“Registrations” shall mean the health registrations, as well as any other governmental
approvals and/or official sales permissions, licenses and Market Authorizations in FRI’s name, which are required for the
sale of the Product in the Territory.

 

		(u)	“Regulatory Authority” includes, but is not limited to, Ministry of Health,
Labor and Welfare (“MHLW”), Pharmaceuticals and Medical Devices Agency (“PMDA”) and all Japan
authorities that deliver the Marketing Authorization.

 

		(v)	“Royalty Computation Period” shall mean each of the three (3) month periods
ending June 30, September 30, December 31 and March 31 of each fiscal year, which means each twelve (12) month period commencing
April 1 and ending March 31.

 

		(w)	“Royalty Year” shall mean each twelve (12) month period commencing April 1 and
ending March 31.

 

		(x)	“Steering Committee” shall mean the committee to be formed by the Parties as
described in

 

Certain confidential information
has been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on
a confidential basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

Section 10.1 (b). 

    	 	5	 

     

    

 

 

		(y)	“Study” shall mean the clinical trial or research study conducted by FRI on
the Territory to evaluate the efficacy and safety of the Product by monitoring their effects.

 

		(z)	“Study Design” shall mean the detailed description of the Study scope, validated
by AAA, that have to be performed in the Territory by FRI to support the Development in order to obtain the Marketing Authorization
and ensure life-cycle management of the Product.

 

		(aa)	“Territory” shall mean the territory of Japan.

 

		(bb)	“Territory-Specific Label” shall mean a Product label to be stuck on an immediate
container (vial), outer container (lead container) and tertiary container (transport box) of the Product for Japan use. The vial
label will be prepared by FRI in compliance with applicable laws and regulations, with its art work, and approved by AAA. The vial
label will not be manipulated or removed by FRI. AAA will prepare internal labels for AAA’s lead container and AAA’s
transport box. These labels will be used during transport from AAA’s manufacturing site to Narita airport. It is expected
that after receipt FRI will remove the vial with the Territory-Specific Vial Label attached at AAA’s manufacturing site from
the AAA’s original lead container for inspection and then put the vial to FRI’s lead container with tamper-evident
closure and the Territory-Specific Label which fits to FRI’s transport box. FRI will prepare in compliance with applicable
laws and regulations and take the responsibility of the Territory-Specific Label used with FRI’s lead container and transport
box. For clarity, two different types of Territory-Specific Label will
be needed, each of which respectively for the Development phase and the Marketing phase in the Territory.

 

		(cc)	“Third Party” shall mean any legal entity or individual not part to this Agreement.

 

		2.	SCOPE.

 

Under this Agreement, AAA
will grant to FRI, a royalty-bearing, exclusive right to (i) Develop, (ii) market, (iii) advertise, (iv) import, (v) perform quality
testing, (vi) package, label and store, (vii) distribute, (viii) commercialize, and (ix) sell the Product within the Field
and throughout the Territory as Marketing
Authorization holder (MAH).

 

FRI will be responsible for
all Development and regulatory activities and costs in order to obtain Marketing Authorization for the Product.

 

The Product to be used for
Development and for commercialization in the Territory
will be purchased from AAA by FRI at the prices provided in Article 8 below, and AAA shall be responsible to manufacture, test
and release the Product for such use, but not for the Territory test (including any quality control test on the Japan soil to accept
the Product) that will remain at FRI’s charge and responsibility.

 

		3.	GRANT OF LICENSE.

 

		3.1	It is agreed and understood that AAA including its Affiliates has the right to exercise the

 

    	 	6	 

     

    

 

LuDOTATATE Patents
and the LuDOTATATE Know-How in Japan. Subject to this condition, during the term of the Agreement, AAA shall grant to FRI a royalty-bearing,
exclusive license in the Territory under the LuDOTATATE Patents and the LuDOTATATE Know-How, to (i) Develop, (ii) market, (iii)
advertise, (iv) import, (v) perform quality testing, (vi) package, label and store, (vii) distribute, (viii) commercialize, and
(ix) sell the Product within the Field and throughout the Territory.

 

		3.2	AAA also shall grant to FRI a right to use the Lutathera Trademarks described in Schedule 2 in
the Territory.

 

		3.3	The rights granted above are exclusive to FRI in the Territory, even as to AAA.

 

		3.4	As a result of the rights granted under this Article, FRI shall not during the term of this Agreement,
grant any Third Party by way of a sub-license or a transfer of whatsoever manner the right to use the AAA’s LuDOTATATE Know-How,
LuDOTATATE Patents, Lutathera Trademarks neither for (i) Developing, (ii) marketing, (iii) advertising, (iv) importing, (v) quality
testing, (vi) packaging, labeling and storing, (vii) distributing, and (viii) commercializing, and (ix) selling the Product, unless
otherwise agreed by AAA by prior written consent, except for any sub-contract with any investigator in accordance with the provisions
of Section 5 (d).

 

		4.	DISCLOSURE OF
KNOW-HOW.

 

		4.1	AAA will furnish FRI with the LuDOTATATE Know-How owned or controlled, or thereafter acquired by
AAA. As soon as the Agreement is executed, AAA will grant FRI the right to access in a mutually agreed way, to its documentation
in relation with Development, including but not limited to the pre-clinical study report, the phase I–II study report, the
protocols and all related documents for Phase III Netter 1 trial, the Netter 1 study report when available, and the periodic safety
report updated (the “Initial Disclosure”).

 

		4.2	AAA undertakes to give reasonable assistance at the request of FRI in the use of LuDOTATATE Know-How
to pursue Marketing Authorization as more precisely defined in the Agreement in Article 6 below.

 

		4.3	Before the start of any Study by FRI, each Study Design for LuDOTATATE registration in the Territory
shall be validated by AAA, such validation shall not be construed and/or interpreted as an acknowledgment of AAA’s liability, and
such validation shall be completed by AAA within a period of fourteen (14) Business Days and ensure prompt communication so that
it will not prolong the Development period unreasonably. For the purpose of such validation by AAA, FRI will provide AAA with a
comprehensive summary of Study Design written in English and related documents as is basis.

 

		4.4	FRI will grant to AAA the exclusive, royalty-free right to reference and use the FRI Data Package
for any purpose not inconsistent with this Agreement, including obtaining or maintaining regulatory approval in connection with
the Product outside the Territory during the term of the Agreement.

 

    	 	7	 

     

    

 

		5.	OBLIGATIONS
OF FRI.

 

Under this Agreement, FRI
agrees to:

 

		(a)	Diligently prepare, submit and pursue a Marketing Authorization and life-cycle management of the
Product in the Territory at its own costs and expenses;

 

		(b)	Purchase from AAA all Products needed in order to Develop the Product at the prices provided in
Section 8.1 below;

 

		(c)	Develop the Product in the Territory at its own costs and expenses;

 

		(d)	Support, upon a prior written agreement with AAA, an investigator initiated study relating the
Product in the Territory, if deemed beneficial to accelerate the Development and ease/support the future commercial launch of the
Product in the Territory. Such services for the investigator initiated study shall be performed under the supervision and responsibility
of FRI, provided, however, that the Steering Committee shall decide option(s) which can be provided to support such a study being
part of the Development phase, including without limitation, providing the Product for such a study by AAA at reasonable costs
subject to AAA’s right to access and use the data from such investigator initiated study within the Development phase. FRI
may disclose the Confidential Information to the investigator but only to the extent that he/she needs to know, and shall inform
him/her of the confidential nature of the Confidential Information and obtain his/her agreement to be bound by confidentiality
obligations in the same terms than those of the CDA. For clarity such support by FRI shall be limited to a scope allowed by any
applicable laws and regulations, and in compliance with the code of pharmaceutical industry. FRI shall keep informed AAA of the
existence of such sub-contract with any investigator so as of the terms and conditions relative to intellectual property rights;

 

		(e)	Obtain price and reimbursement approvals for the Product in the Territory from all the Regulatory
Authorities;

 

		(f)	Use Commercially Reasonable Efforts
to promote, distribute and sell the Product in the Territory in accordance with the decision taken with the Steering Committee;

 

		(g)	Provide AAA within fifteen (15) Business Days of the end of each month a report of Net Sales and
other information, including monthly unit sales, gross sales, and adjustments to Net Sales, in form mutually agreed to by FRI and
AAA;

 

		(h)	Annually provide AAA with a rolling twelve (12) month non-binding forecast of demand;

 

		(i)	For the commercial use of the Product after obtaining of the Marketing Authorization, perform all
quality testing of the delivered Product required by applicable laws and regulations in accordance with the quality agreement,
the main terms and conditions being set forth in

 

    	 	8	 

     

    

 

Schedule 4 attached
hereto (the “Quality Agreement”). The Quality Agreement shall comply with the Marketing Authorization and shall be executed
soon after the execution of the Agreement, but in any case before the expedition of the first commercial dose of Product in the
Territory. For the avoidance of doubt, FRI will perform quality testing of the delivered Product
for the Study with reference to the Quality Agreement for the Development phase (the
“Quality Agreement of Development Phase”) which shall be executed soon
after the execution of the Agreement and supersede by a Quality Agreement without delay after obtaining the Marketing Authorization;

 

		(j)	Comply with the requirements of AAA’s pharmacovigilance system. These requirements shall
be defined in Article 15 and a Safety Data Exchange Agreement (“SDEA”) between FRI and AAA for the phase after
the issuance of the Marketing Authorization in the Territory (the “Marketing phase”), which shall be executed soon
after the execution of the Agreement, but in any case before the expedition of the first dose of Product in the Territory;

 

		(k)	Prepare an artwork of Territory-Specific Label and of the Product (vial, lead container and transport
box) in compliance with applicable laws and regulations. The vial label and its English translation will be provided to AAA for
approval one month before the initiation of Study for the Development
phase or the submission of the Marketing Authorization application for
the Marketing phase;

 

		(l)	Ensure that the Development, promotion and commercialization of the Product is made at any time
in compliance with the applicable law and regulation;

 

		(m)	Promptly inform AAA of any report of patient injury and any other serious complaint or any serious
adverse event relating to quality, safety or efficacy of the Product, in accordance with this Agreement, the SDEA, Quality Agreement
or as otherwise agreed by the Parties in writing;

 

		(n)	Be strictly bound to comply with legislation and regulation applicable to the marketing and the
utilization of the Product in the Territory;

 

In the event
the Product is banned, have full and unrestricted responsibility for withdrawing the Product from the Territory as quickly as possible
and provide the relevant authorities and AAA with proof that it has done so. In such case the Parties shall agree in good faith
upon who will bear the costs of such withdrawal depending on a Party’s responsibility for such ban.

 

		(o)	FRI shall use Commercially Reasonable Efforts to Develop and obtain Marketing Authorization and
Registrations, consistent with the Timeline as further defined in Section 10.4 and stipulated in Schedule 5 attached hereto, which
is an essence of this Agreement. It is recognized by the Parties, however, that such Timeline is influenced a great deal by the
completion of the current Phase III trial performed by AAA, and other unforeseeable factors such as launch of highly effective
competitive drugs as well as force majeure defined under Article 20. For clarity, the Timeline will be first proposed by FRI within
six (6) months after the Initial Disclosure, and then agreed by the Steering Committee (the “Original Timeline”),
and will be revised from time to time by the Steering Committee, if needed. The Original Timeline will be attached herein for
a reference as soon as it is agreed by the Steering Committee.

 

    	 	9	 

     

    

 

		6.	OBLIGATIONS
OF AAA.

 

Under this Agreement, AAA
agrees to:

 

		(a)	Diligently prepare, submit and pursue a marketing authorization for the Product outside the Territory
at its own costs and expenses. AAA will use Commercially Reasonable Efforts to file NDA for all of the GEP-NET indication that
include p-NETs for the Product outside the Territory;

 

		(b)	Diligently perform the conduct of the current Phase III trial relating to the Product outside the
Territory till the release of the clinical study report on the study primary end-point, progression-free survival, which is a critical
factor to influence the Development plan by FRI;

 

		(c)	Register and maintain an accreditation of foreign manufacturer in compliance with regulatory requirements
in the Territory;

 

		(d)	Provide FRI with information of any intended change of the manufacturing process as well as the
items specified in Section 11.3 well in advance for FRI’s assessment. FRI shall, as regard of such information, assess if
the intended changes can implemented without being assessed by the Territory’s Authority and/or obtaining a regulatory approval.
Would no regulatory authorization be needed, then FRI will take all actions to have such modification be immediately implemented.
If a regulatory authorization is necessary, then AAA shall provide FRI with sufficient information to allow FRI to take all actions
to have said changes duly approved and implemented at FRI’s cost and keep AAA informed of regulatory approval. AAA will support
FRI in the response to any request from regulatory. Once AAA being notified by FRI of the regulatory approval, change will be operated.
For clarity, such cost for application for approval for the partial change will be borne by FRI basically, provided, however, the
Parties shall agree in good faith to discuss regarding cost burden for material losses and/or new investment to be incurred by
FRI specifically connected with such changes, but such discussion cannot be construed as an obligation for AAA to bear in whole
or in part any alleged cost burden as the Parties have to take into consideration the advantageous consequences of the intended
change.

 

		(e)	Support FRI, with information and know-how existing and available to AAA, in its Commercially Reasonable
Efforts to obtain Marketing Authorization;

 

		(f)	Support FRI, with information and know-how existing and available to AAA, in its Commercially Reasonable
Efforts to obtain local price and reimbursement approval.

 

		(g)	Comply with the quality requirements defined in the Quality Agreement, which shall be amended to
comply with the Marketing Authorization when granted, and shall be executed soon after the execution of the Agreement, but in any
case before the expedition of the first commercial dose of Product in the Territory, as well as the Quality Agreement of Development
Phase which shall be executed soon after the execution of the Agreement;

 

    	 	10	 

     

    

 

		(h)	Comply with Article 15 herein and the SDEA, which shall be executed soon after the execution of
the Agreement, but in any case before the expedition of the first dose of Product in the Territory;

 

Upon request,
and as agreed by FRI, AAA shall have the right to perform pharmacovigilance audits of FRI records and documentation in terms of
the provisions of this Agreement, during normal business hours within the Territory at AAA’s expense.

 

		(i)	Manufacture, test and release the Product in compliance with current Good Manufacturing Practices
(“cGMP”) and the Quality Agreement;

 

		(j)	Supply the Product in a vial with Territory-Specific Label and in compliance with the minimum acceptance
criteria at the arrival at Narita Airport for radioactivity, radioactive concentration and residual period to expiry as agreed
with FRI, pursuant to FRI’s purchase orders at the prices provided in Section 8.1 before obtaining the Marketing Authorization,
Section 8.2 for the Product for commercial purpose and Section 8.4 for the Product for non-commercial purpose after the Marketing
Authorization is granted;

 

		(k)	Provide FRI with all available pharmacovigilance information that is required for FRI to remain
in compliance with local applicable laws and regulations regarding pharmacovigilance. These requirements shall be defined in the
SDEA between FRI and AAA, which shall be executed soon after the execution of the Agreement, but in any case before the expedition
of the first dose of Product in the Territory;

 

		(l)	Promptly inform FRI of any report of patient injury and any unexpected other serious complaint
or any serious adverse event relating to quality, safety or efficacy of the Product, in accordance with this Agreement, the SDEA,
Quality Agreement or as otherwise agreed by the Parties in writing; and

 

		(m)	Prepare and provide FRI with required tax document so that FRI can execute procedures for AAA to
file the application form of income tax convention with Japan National Tax Agency in a timely manner.

 

		7.	PayMENT.

 

		7.1	Development Milestone Payments

 

In consideration
of the exclusive license granted under the Agreement, FRI will pay to AAA “Development Milestone Payments”:

 

		(a)	[*] EURO (€[*]) within fifteen (15) days after the Effective Date,

		(b)	[*] EURO (€[*]) within thirty (30) days after the receipt of Marketing Authorization. FRI
shall notify AAA as soon as it acknowledges grant of the Marketing Authorization.

 

Certain confidential information has been
omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on a confidential
basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

    	 	11	 

     

    

 

		7.2	Royalty

 

FRI shall pay
to AAA a royalty of its Net Sales with a tiered system during the Initial Term of the Agreement.

 

A royalty for
a Royalty Year in the Initial Term of the Agreement will be calculated by a tiered system:

 

	Tier	 	Net
    Sales per year	 	Royalty
    ratio 	 
	 	 	 	 	 	 
	1	 	Portion less than [*]	 	 	[•]	%
	 	 	 	 	 	 	 
	2	 	Portion greater than or equal to [*]	 	 	[•]	%
	 	 	 	 	 	 	 
	3	 	Portion greater than or equal to [*] but less than [*]	 	 	[•]	%
	 	 	 	 	 	 	 
	4	 	Portion greater than or equal to [*] JPY	 	 	[•]	%

 

For the avoidance of doubt, the
percentage ratio indicated for the tier corresponding to the aggregate amount of Net Sales shall apply to the whole amount of Net
Sales, starting from 1 JPY. For example, in case of Net Sales of 1,200 million JPY in a Royalty Year, the amount of royalties payable
hereunder shall be as follows:

 

	Tier 1 portion	500 million JPY  x  [•] %	=	[•] JPY
	Tier 2 portion	500 million JPY  x  [•] %	=	[•] JPY
	Tier 3 portion	200 million JPY  x  [•] %	=	[•] JPY
	Total royalties for such Royalty Year	=	[•] JPY

 

FRI shall pay to AAA the Royalties
set forth in Section 7.2 hereof, which accrue during each Royalty Computation Period within three (3) months after the end of each
such Royalty Computation Period.

 

Ten (10) years after the Marketing
Authorization granted in Japan, in consideration of the value in the non-patent rights such as Lutathera Trademarks and LuDOTATATE
Know-Hows granted hereunder, a new royalty ratio shall be agreed between the Parties in good faith, at least one hundred and eighty
(180) days before the expiration of the Initial Term, provided, however, that such new royalty ratio shall not exceed [*] percent
([•]%).

 

Certain confidential information
has been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on
a confidential basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

    	 	12	 

     

    

 

		7.3	Sales Milestone Payments

 

In consideration of the exclusive
license granted under the Agreement, FRI will pay to AAA the following “Sales Milestone Payments” in three (3) payments
as soon as FRI has determined that such sales milestone has been achieved during the Initial Term:

 

		(a)	As soon as the Net Sales turn over exceeds [*] JPY (¥[*]) in a Royalty Year for the first time
a first payment of [*] EURO (€[*]) shall be paid by FRI to AAA,

 

		(b)	As soon as the Net Sales turn over exceeds [*] JPY (¥[*]) in another Royalty Year, a second
payment of [*] EURO (€[*]) shall be paid by FRI to AAA,

 

		(c)	The third payment will be implemented when the Net Sales turn over exceeds [*] JPY (¥[*]) in
a Royalty Year for the first time, [*] EURO (€[*]) shall be paid by FRI to AAA.

 

FRI shall pay
to AAA the Sales Milestone Payments set forth in Section 7.3 hereof within sixty (60) days after the end of the pertinent Royalty
Computation Period in which each event defined in Section 7.3(a), 7.3(b) and 7.3(c) above, respectively achieved.

 

		7.4	Payments for the Product

 

Payment term for the Product
and reference standard of non-radioactive LuDOTATATE (the “Reference Standard”) purchased by FRI from AAA will
be within one (1) month after the last day of the month in which the respective invoice for the transfer price under Article 8
is received (for example, all invoices issued in April are paid by 31st of May).

 

		7.5	The payments from FRI to AAA set forth in Section 7 hereof shall be made in the EURO applying the
exchange rate of telegraphic transfer selling rate of Mizuho Corporate Bank, Ltd. at the date of the corresponding payment. AAA
shall separately specify the bank account for payments by FRI. FRI shall bear the relevant remittance fees in the Territory, provided,
however, that receiving fee for payment in its territory shall be borne by AAA.

 

		7.6	Failure by FRI to pay any of the payments (Development Milestone Payments, Royalty, Sales Milestone
Payments) as mentioned above in due time, AAA shall be entitled to claim interests at a rate of 0.25 % per annum of the unpaid
amount by overdue day, without prejudice to its right to terminate the Agreement and/or any remedies it may have.

 

		7.7	FRI shall maintain separate internal accounting records related to its exploitation of the exclusive
license for following three (3) years of each Royalty Year. FRI agrees to permit a reputable, independent, accounting firm, retained
by AAA at its own costs, to have such reasonable access to FRI’s aforesaid separate internal sales records and books of account,
once a Royalty Year at most, during business hours, as may be necessary to check the amounts of FRI’ sales, provided that AAA’s
intention for such access shall be notified to FRI at least five (5) weeks in advance.

 

Certain confidential information
has been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on
a confidential basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

    	 	13	 

     

    

 

		7.8	FRI shall in no event be entitled to offset any amounts it may claim are owed to it by AAA under
the Agreement against any payments due to AAA pursuant to this Article 7 or any other provisions contained in the Agreement.

 

		8.	TRANSFER PRICE

 

		8.1	In the Development phase, AAA will sell
and FRI will purchase the Product for clinical trials and CMC studies at marginal costs (defined at [*] € per dose, plus shipment
cost at the charge and invoiced to FRI). AAA also shall be responsible to provide FRI with the Reference Standard which are necessary
for FRI to perform CMC studies for the Product at purchased price by AAA from its vendor throughout the Development phase to Marketing
phase.

 

		8.2	For the commercialization of the Product after obtaining of the Marketing
Authorization during the Initial Term of the Agreement, the transfer price of the Product
from AAA to FRI for commercial purpose shall be equivalent to [*] ([*]%) of the “Net NHI Price” for the Product on
the condition that consumption tax (Japanese TVA) will be 10% when the NHI Price for the Product is established. If said the Consumption
tax is not 10% at the determination of the NHI Price for the Product, a new transfer price of the Products shall be agreed in good
faith between the Parties.

 

		8.3	Whatever the “Net NHI Price”, a minimum transfer price is defined at € [*] per
dose, plus the shipment cost invoiced to FRI.

 

		8.4	Notwithstanding the foregoing, during the Marketing phase, AAA will sell and FRI purchases the
Product for non-commercial purpose, including but not limited to, quality testing, a practical training course organized by academic
societies, JRIA, and/or FRI, or user training limited to one per new customer, at marginal costs (defined at [*] € per dose,
plus shipment cost at the charge and invoiced to FRI) after launch of the Product.

 

		8.5	At any time during the Initial Term of the Agreement in case of change of the Consumption Tax or
upon renewal of the Agreement, a new transfer price of the Product shall be agreed between the Parties in good faith taking any
and all situation at such time into consideration.

 

		9.	TAXES.

 

		9.1	FRI shall pay all customs duties or sales, use, excise, or other similar taxes and value added
or other similar taxes, or any other tax assessment (other than that asserted against the income of AAA) that is imposed in connection
with any purchase of the Product or in connection with the Agreement. For clarity, AAA shall bear all costs for transport from
AAA’s production site to the exporting airport and export clearance only.

 

		9.2	If the Milestone Payment (Development and /or Sales) or Royalty payable to AAA under the Agreement
are subject to a deduction or withholding of tax, then FRI shall pay in a timely manner the amount after such deduction or withholding
of tax for such Milestone Payment or

 

Certain confidential information
has been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on
a confidential basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

    	 	14	 

     

    

 

Royalty to AAA.
FRI shall execute procedures for AAA to file the application form of income tax convention with Japan National Tax Agency, provided,
however, that AAA shall cooperate with FRI by providing required document with FRI in a timely manner. AAA will work with tax authority
to avoid double taxation, in case AAA failed, AAA agree that FRI should deduct the amount of withholding tax with sending the proof
of withholding tax payment supported.

 

		10.	DEVELOPMENT
OF THE PRODUCT

 

		10.1	The Parties desire and intend to collaborate with respect to Development and commercialization
of the Product in the Territory, as and to the extent set forth in this Agreement. As soon as the execution of the Agreement and
in order to facilitate the interaction and exchanges between the Parties, the Management Committee and the Steering Committee will
be put in place by both Parties throughout the duration of the Agreement. Such committees can hold meetings at the Parties best
convenience also by videoconference or conference call.

 

		(a)	the Management Committee will monitor and oversee activities under this Agreement in the Territory,
resolve disputes within the Steering Committee and facilitate communications between the Parties with respect to Development and
commercialization of the Product in the Territory during the term of the Agreement. The Management Committee shall have the authority to resolve any disputes not resolved by the Steering Committee, except where
expressly specified elsewhere in this Agreement.

 

It will include at least two (2)
senior executives of each Party and will meet at least once a year. The representatives from each Party will have, collectively,
one (1) vote on behalf of that Party, and all decision making shall be by consensus of such two (2) votes. In case the Managing
Committee fails to make consensus, however, FRI shall have the final say with respect to any matter relating to the Development
in the Territory, and AAA shall have the final say with respect to any matter which could have a material adverse impact on the
development or marketing outside the Territory.

 

Each Party may replace its Management
Committee representatives at any time upon written notice to the other Party.

 

		(b)	the Steering Committee will:

		(i)	oversee the conduct of the Development plan generally,

		(ii)	prepare and approve annual and interim amendments to the Timeline as further defined in Section
10.4 and stipulated in Schedule 5 attached hereto,

		(iii)	oversee the preparation of applications for Regulatory Approval and regulatory matters with respect
to the Product in the Territory,

		(iv)	oversee sales and promotion strategy with respect to the Product in the Territory.

 

The Steering Committee will include
at least two (2) representatives of each Party.

 

    	 	15	 

     

    

 

The representatives from each Party
will have, collectively, one (1) vote on behalf of that Party, and all decision making shall be by consensus of such two (2) votes.
In case the Steering Committee fails to make consensus, it shall seek the Management Committee’s judgment. The meeting minutes
shall be taken by FRI after each meeting and shall be circulated between the Parties at the latest eight (8) days after the considered
meeting. Each Party may replace its Steering Committee representatives at any time upon written notice to the other Party.

 

During the Development phase, the
Steering Committee will meet every three (3) months by any means to ensure the compliance with the Timeline (as further defined
in Section 10.4) and oversee and discuss the Development.

 

During the Marketing phase, the
Steering Committee will meet at least twice a year by any means to discuss sales and promotion plan.

 

		10.2	In order for FRI to define the Development plan, as soon as the execution of the Agreement, AAA
shall grant FRI the right to access, in an agreed way, LuDOTATATE Know-How, including but not limited to AAA’s development
timetable for the Product, any relevant protocols and reports, and the core EU/US registration dossier as and when available which
shall be considered as the Initial Disclosure.

 

Up to a six (6)
months period from the Initial Disclosure of LuDOTATATE Know-How to FRI, FRI undertakes to set up and provide AAA with the definition
of the contemplated Development scope for the Product in the Territory including:

- a pre-timetable
for the contemplated Development phase, which designates an indicative timeline;

- a theoretical
Development plan for the Product and for the relevant actions with the Regulatory Authority (meetings, interventions,...).

- English
comprehensive summaries of material to be filed with the Regulatory Authority for consultation (the “Consultation File
Summaries”)

 

The pre-timetable
and the Consultation File Summaries shall have to be validated by AAA within one (1) month period from their delivery, provided,
however, that the pre-timetable and the Consultation File Summaries shall be deemed to be approved by AAA if no written comment
is provided within such one (1) month period.

 

		10.3	Upon validation of the Consultation File Summaries by AAA, including the relevant pre-timetable,
FRI undertakes to get an appointment with the Regulatory Authority for consultation of the strategy of Development in connection
with the contemplated Development scope for the Product in the Territory (the “PMDA Consultation”). The appointment
request for the PMDA Consultation shall be submitted within two (2) months from the completion of validation of the Consultation
File Summaries by AAA, at the latest. For clarity, it is understood that prior to the PMDA Consultation, a prior consultation with
PMDA is also possible, and if deemed useful by the Parties to take such a prior consultation, such prior consultation may precede
the PMDA Consultation. Also, in case the necessity arises to consult

 

    	 	16	 

     

    

 

with Regulatory
Authorities, including MHLW with respect to radiation safety management of the Product in the Territory as described in Section
11.2, such a consultation with the relevant Regulatory Authority may precede the PMDA Consultation. Also, it is recognized by the
Parties that prior to initiate a Study in the Territory, it is necessary for FRI to apply for a separate consultation with PMDA
for advice for the Study Design or its protocol, if deemed necessary.

 

		10.4	Within the two (2) months period from the finalization of the minutes of the PMDA Consultation
from PMDA, FRI shall set up and propose to AAA a timeline for the Development of the Product in the Territory to be validated by
AAA (the “Timeline”), which shall be completed within two (2) weeks after such proposal. FRI will respect AAA’s
comments and/or opinion, if any, to adopt into the Timeline as much as possible, provided, however, any final decision regarding
the Timeline shall be made by the Steering Committee.

 

		10.5	During the Development phase, FRI shall promptly inform AAA of the status and progress of the project,
and of each of its milestones.

 

The Timeline
specified hereinabove will be monitored by the Steering Committee. In case of any delay, the Steering Committee shall meet and
agree on specific means to catch up or to minimize the delay. The cost to catch up or to minimize the delay shall be borne by FRI
in case such delay is due to FRI’s misconduct or negligence or necessity to perform any additional study required by Regulatory
Authority for Development, and by AAA in case such delay is due to AAA’s convenience such as delayed development of the Product
outside the Territory.

 

Failure for FRI
to comply with the Timeline agreed by the Steering Committee due to FRI’s misconduct or negligence and to agree on specific
means to catch up or to minimize the delay with AAA shall entitle AAA to terminate the Agreement at any time without prejudice
to any damages which may be due.

 

		10.6	It is recognized by the Parties that implementation of a pre-marketing program such as an investigator
initiated study prior to the Study, will ease/support the future commercial launch of the Product in the Territory. If FRI receives
a request from an investigator to financially support his/her own study relating to the Product in the Territory, the Steering
Committee shall discuss in good faith the possible benefit of such support and decide option(s) which can be provided to support
such a study, including without limitation, providing the Product for such a study by AAA at reasonable costs, to the extent permitted
by applicable laws and regulations and relevant codes. In such case, AAA shall have an access and be able to use the data for its
own development.

 

		11.	Regulatory Matters.

 

		11.1	It is intended that FRI will be MAH for the Product in the Territory and all Development responsibilities
and costs, including those incurred in connection with obtaining Regulatory Approval, Territory-Specific Label, CMC studies if
additional data is deemed necessary to obtain the Marketing Authorization, clinical trials sponsored or supported by FRI in the
Territory, supply and commercialization, with respect to the Product in the Territory will be borne by FRI.

 

    	 	17	 

     

    

 

		11.2	It is agreed and understood that before starting a clinical trial of the Product in the Territory,
a manual for proper use and safe handling of the Product (the “Manual”) should be ready, and upon regulatory
approval of the Product, the content of such Manual will be incorporated in the “Release of patients after therapy with unsealed
radionuclides”, which is a regulatory notification ruling the patient release criteria, currently not including Lu-177. It
is also agreed and understood that such Manual will be prepared by an academic society such as JSNM (the Japanese Society of Nuclear
Medicine) in cooperation with the JRIA, based on data available at the time, then to be confirmed by Regulatory Authorities and
disclosed in public.

 

FRI will be bearing
all costs and responsible in supporting the preparation of such Manual by the academic society. For the sake of clarity, any reference
to LuDOTATATE Know-How or Confidential Information in such Manual shall be made only with the prior mutual agreement of both Parties,
and in preparation of such Manual, FRI shall not disclose any LuDOTATATE Know-How or Confidential Information to any Third Parties
without AAA’s prior written consent, provided, however, that AAA shall not unreasonably withhold such consent.

 

		11.3	The Parties agree that the file for approval application for Marketing Authorization will specify
at least the following, and any change of such specified matter is subject to regulatory approval for a partial change of approved
matters;

 

		•	Manufacturing site for DOTA0-Tyr3-Octreotate

		•	Quality testing site for DOTA0-Tyr3-Octreotate

		•	Manufacturing site for the Product

		•	Quality testing site for the Product

		•	Storage site of the Product

		•	Labelling, packaging and storage site for the Product in the Territory: FRI’s Chiba factory

		•	Quality testing site for the Product in the Territory: FRI’s Chiba factory

		•	Manufacturing methods of DOTA0-Tyr3-Octreotate and the Product

		•	Quality testing methods of DOTA0-Tyr3-Octreotate and the Product

		•	Quality specifications of DOTA0-Tyr3-Octreotate and the Product

 

It is understood
and agreed between the Parties that AAA shall accept or arrange a compliance inspection of the above sites for manufacturing, quality
testing or storage by FRI during the term of the Agreement and by the MHLW during the course of the MHLW’s review of the
Marketing Authorization application by the MHLW.

 

		11.4	It is understood between the Parties that the data attached to the approval application for Marketing
Authorization is subject to the PMDA’s review of compliance with quality standards, GLP, and GCP by verification and comparisons
with raw data to determine if the attached data has been compiled correctly based on study results. AAA shall use its Commercially
Reasonable Efforts to assist FRI for its verification of reliability of the documentation which has been disclosed by AAA and will
be attached to the approval application for Marketing Authorization.

 

    	 	18	 

     

    

 

		12.	Marketing and
Sales.

 

		12.1	FRI will be responsible for all marketing and selling of the Products, including establishing all
pricing to the customers, and will be responsible for all related expenses. FRI will use Commercially Reasonable Efforts to promote
market and sell the Products in the Territory. For clarity AAA will provide FRI with any promotional materials and educational
materials AAA creates and uses outside the Territory. FRI is authorized to use such materials in whole or in part by translating
and incorporating them to its own promotional or educational materials, provided, however, that any materials arranged by FRI to
be used in the Territory shall comply with any applicable regulation.

 

		12.2	FRI will undertake to provide AAA with promotional activity reports and sales forecast on a regular
basis. FRI shall report to AAA in writing, within fifteen (15) Business Days following each calendar month, the sales of the Products
in the Territory of the previous month, including details on number of doses sold and relevant values, and the name of each facility
and other information as AAA may reasonably request.

 

Also, FRI will keep AAA updated
semiannually, within fifteen (15) Business Days following the end of September and March, about the market conditions in the Territory
concerning the Product, by giving to AAA all information on the subjects that may be of its interest, including activities of competitors,
possible public or private contests gained, laws and regulations in the pharmaceutical field.

 

		12.3	FRI shall allow AAA to enter and audit once a year at most, FRI’s plant and facilities/premises
in the places where the Product/s are stored or controlled and the other activities, including quality control inspections, are
performed in accordance with this Agreement during normal working hours, to verify FRI compliance with the obligations set forth
in this Agreement and with the applicable laws and regulations.

Save for urgent cases, AAA shall
give FRI at least fifteen (15) Business Days advance written notice of its intention to exercise its right of audit, in accordance
with this Section 12.3.

 

		12.4	FRI shall use its Commercially Reasonable Efforts to promote the sale of the Product in the Territory
by using adequate promotional efforts, according to the methods generally adopted in the pharmaceutical line of business. Detailed
plans thereof shall be agreed by the Steering Committee each Contractual Year.

 

		12.5	The times and the programs of launching, introducing and promoting each Product in the Territory
shall be discussed and agreed, from time to time, between the Parties.

 

		12.6	Any promotional and marketing expenses shall be borne by FRI, apart from “Special Events”
where the level of cost-sharing will be discussed in good faith by both Parties. For Special Events such as AAA-generated activities
in the Territory or international congresses held in the Territory, where AAA intends participating, the associated costs will
be borne by AAA. Such costs will be for booths, organization and speakers, and the invitation of guests. For Special Events that
are specifically pertinent to sales, marketing and other educational activities in the Territory, AAA and FRI will discuss in
good faith the level of cost sharing.

 

    	 	19	 

     

    

 

		12.7	The costs of medical visitors, distribution of samples, mailing of literature, circulars and advertising
in the Territory shall be borne by FRI.

 

		12.8	Furthermore, AAA and FRI hereby agree that FRI shall have specialized personnel to promote the
Product supported by one or more than one Product manager, so devoting reasonable part of their time.

 

		12.9	In accordance with the main terms and conditions of the Quality Agreement as set forth in Schedule
4 attached hereto, each employee engaged by FRI for the processing or holding of the Product shall have education, training and
experience or any combination thereof necessary to perform the assigned functions.

 

The training
shall be conducted by skilled persons and when it is necessary on a continuing basis and sufficient frequency to assure and maintain
a high level of performance and control in the realization of their functions.

 

A training report
shall be made for each employee involved in the processing or holding of AAA’s Product based on the training documentation
supplied by AAA.

 

Without limiting
the generality of the foregoing, FRI shall:

 

		(a)	maintain a qualified sales force of adequate size to represent and promote the sale of the Product
throughout the Territory;

		(b)	maintain qualified personnel to service;

		(c)	ensure that its sales personnel representing the Products have completed training with respect
to the promotion, marketing, sale and use of the Product, as provided by AAA subject to compliance with applicable regulations;
and

		(d)	be primarily responsible for conducting all Product presentations to prospective customers.

 

		13.	SUPPLY –
DELIVERY

 

		13.1	AAA shall be responsible to manufacture, test and release the Product in compliance with cGMP in
accordance with FRI’s order. AAA will be also responsible to provide FRI with certificate of analysis of each delivered Product
in due time.

 

		13.2	FRI will purchase and import the Product, perform required acceptance testing and will supply it
for the Study as the investigational drug in the Development phase, and will perform required quality testing, package, label,
store and resell them to its customers during the Marketing phase, entirely at its own commercial risk and costs as far as the
Product complies with any and all specifications by acceptance/quality testing of the Product and is qualified for release for
the Study or to the market under the Agreement as well as the Quality Agreement.

 

		13.3	Delivery term is FCA Milano airport or any other exporting airport near to AAA’s production
site in accordance with INCOTERMS 2010 of the International Chamber of Commerce. In consideration of a short shelf life of the
Product, the Parties shall discuss in good faith possible

 

    	 	20	 

     

    

 

flight options and
delivery timeline for the Product from AAA’s production site to Narita Airport as well as the minimum acceptance criteria
at the arrival at Narita Airport for radioactivity, radioactive concentration and residual period to expiry, and agree in writing.

 

		13.4	FRI shall be liable for complying with any legislation or regulations governing the importation
of the Product into the country of destinations and for the payment of any duties and/or taxes on them. For clarity, AAA shall
bear all costs for transport from AAA’s production site to the exporting airport and export clearance only.

 

		13.5	No purchase order submitted by FRI shall be deemed to be accepted by AAA unless and until confirmed
in writing by AAA’s authorized representative, provided, however, such confirmation shall be made ten (10) Business Days
before the delivery date at Narita Airport provided in such order.

 

		13.6	In the event of any discrepancy between any purchase order and this Agreement, the term of this
Agreement shall prevail.

 

		13.7	FRI shall send to AAA on a biannually basis a six (6) months non-binding rolling forecast of the
purchase order in order to allow AAA to anticipate any variation. Each purchase order must be confirmed by FRI not less than ten
(10) Business Days prior to scheduled delivery date at Narita Airport, which is an non-cancelable firm order (the “Firm
Order”). Such Firm Order will contain for each Product, the quantity to be delivered, the relevant price and the delivery
date at Narita Airport. For clarity, Parties shall keep on discussing in good faith to minimize the period between the Firm Order
and delivery date.

 

		13.8	FRI shall provide AAA with a planning report on a monthly basis (the “Planning Format”).
Such Planning Format shall have a monthly detail including the following data:

 

		(a)	purchase order issued by FRI towards AAA,

		(b)	forecasted purchase order

		(c)	planned deliveries at Narita Airport.

 

		13.9	FRI shall pack the Product in accordance with the standard packing procedure agreed with AAA, which
shall be suitable to permit shipment of the Product in the Territory and in compliance with applicable regulations.

 

		13.10	FRI undertakes not to make any changes or alterations, integrations on the packaging of the Product
as supplied by AAA without having previously obtained the written approval of AAA and provided that the Trademarks and AAA’s
name shall not be hidden on all type of packaging, labels and leaflets. For clarity, all packaging and label shall contain some
other information required by applicable regulations. Also, it is agreed between the Parties that FRI will use its own lead container
for the Product in the Territory, of which label attached will be agreed by AAA.

 

		13.11	If FRI requests a modification of those standard packaging procedure at FRI’s convenience,
AAA shall evaluate in good faith the possibility to comply with such request, AAA shall make the requested modification and FRI
shall bear any expenses incurred by AAA in complying with such modified procedures which are in excess of the expenses which AAA
would have incurred

 

    	 	21	 

     

    

 

in the following
of its standard procedure. If modification is needed for any reason arose in AAA side, the expenses which AAA would have incurred
in the following of its standard procedure shall be born by AAA.

 

		13.12	Upon receipt of any shipment of the Product and in such a way compatible with the Product shelf-life,
FRI shall perform immediately all required and necessary quality testing of the delivered Product to ensure that such shipment
is deemed qualified for the Product under the Agreement as well as the Quality Agreement of Development Phase followed by the Quality
Agreement. If such shipment is found to be defective or inadequate, then FRI shall immediately notify AAA in writing with full
and comprehensive information (data, results,...) and AAA shall have fifteen (15) days to replace or refund for the defective
Product or supply any shortage as further defined in the Quality Agreement of Development Phase as well as the Quality Agreement.
For clarity, in case the Product is not in compliance with the minimum acceptance criteria at the arrival at Narita Airport for
radioactivity, radioactive concentration and residual period to expiry as agreed with FRI for any reason, and it is not feasible
for FRI to further proceed with procedures to release the Product for the Study or commercialize the Product in the Territory,
the Product shall be deemed defective.

 

		13.13	The procedure regarding the complaints about defects or any other inadequateness of the Product
as determined by FRI’s acceptance/quality testing and the recall of the Product during the Marketing phase is stated in the
Quality Agreement, the main terms and conditions being stated in Schedule 4 attached hereto. In the event of any inconsistency
between the Quality Agreement and this Agreement with regard to matters relating to exclusively supply, quality control and quality
assurance, the terms of the Quality Agreement shall prevail.

 

		13.14	The procedure regarding the complaints about defects or any other inadequateness of the Product
as determined by FRI’s acceptance/quality testing in the Development phase is subject to this Section 13.14 as well as the
Quality Agreement of Development Phase. During the Development phase, FRI shall have ten (10) Business Days following receipt of
any shipment of the Product, to test acceptance. If such shipment is found to be defective or inadequate, then it shall immediately
notify AAA in writing with full and comprehensive information (data, results,...) and AAA shall have fifteen (15) days to
replace or refund for the defective Product or supply any shortage as further defined in the Quality Agreement of Development Phase.
If FRI does not notify AAA of the deficiency within the specified timeframe then the Product shall be deemed accepted by FRI. FRI
shall have the right to claim for compensation to AAA if such defect causes any significant damages to FRI, provided that such
compensation shall not exceed the actual cost of the defective Product. In the event of any inconsistency between the Quality Agreement
of Development Phase and this Agreement with regard to matters relating to exclusively supply, quality control and quality assurance,
the terms of the Quality Agreement of Development Phase shall prevail.

 

		13.15	Notwithstanding the foregoing, in the event a hospital cancels its order after the Firm Order has
been made by FRI to AAA, the Parties understand that the hospital, in principle, shall bear all costs related to the cancellation.
However, if the hospital rejects to bear the costs for the cancelled order or non-use of ordered Product due to unforeseeable deterioration
of the patient or other reasons, then the Parties agree that the Firm Order is exceptionally cancellable, with a written notification
to AAA, and that all costs related to such cancellation will be equally supported between both Parties, a half portion of the Product
cost, provided a prior written notification of such cancellation has to be given by FRI to AAA at least three (3) Business Days
before the delivery date at Narita Airport provided in the considered order. In such case, Parties agree that the transfer price
of the Product shall be equal to its marginal cost (defined at [*] € per dose). In case of cancellation two (2) Business Days
before the delivery date at

 

Certain confidential information
has been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on
a confidential basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

    	 	22	 

     

    

 

Narita Airport
or after, FRI will bear all the Product cost (if applicable, transport cost being include), provided the transfer price of the
Product shall be [*] € per dose also in such case, and FRI will be credited with the difference between the transfer price
defined in Section 8.2 herein and [*]€. It is agreed between the Parties that such Firm Order cancellation shall be limited
to two (2) cases a year per hospital. Over such number of cancellation, AAA will invoice FRI the Product at transfer price.

 

		14.	LOCAL RELEASE.

 

		14.1	In Development phase, FRI will perform required acceptance testing of the delivered Product
including, without limitation, a visual external examination before delivering the Product to each investigational site, provided,
however, that before starting a Study in the Territory, FRI shall ensure, in a way agreed by the Parties, that the
Product will meet its specifications from shipment from FRI’s site through arrival at each investigational site.

 

		14.2	After launch of the Product in the Territory, upon receipt of any shipment of the Product, FRI
will perform all required and necessary quality testing of the delivered Product in accordance with the Quality Agreement to ensure
that such shipment is deemed qualified for the Product.

 

		15.	Safety Information
Exchange.

 

		15.1	In order to allow FRI and AAA to exercise a proper pharmacovigilance activity in compliance with
any applicable law and regulations, by signing the present Agreement and the SDEA, FRI and AAA concur to report to each other in
the English language all safety information concerning the Product via a mutually agreed way.

 

The SDEA describes
procedures and time frames, and defines responsibilities that the Parties shall employ to protect patients and promote their well-being.
The requirements set forth in the SDEA shall serve to:

		·	Define responsibilities, format, content,
methods of transmission and timelines for safety data collection, processing and exchange for the Product;

		·	Enable AAA and FRI and their respective
affiliates/third parties, to comply with all pharmacovigilance obligations, as amended from time to time, in the Territory for
which they have safety reporting obligations;

		·	Ensure the completeness and accuracy of safety
information (including, without limitation, Company Core Data Sheet (“CCDS”), Company Core Safety Information (CCSI),
Investigator Brochure (“IB”), Risk Management Plan (if applicable) and/or Product Labeling
(including, without limitation, Local Prescribing Information), as appropriate);

		·	Ensure global harmonization and consistency
of safety information;

		·	Prevent premature dissemination of non-validated
or unapproved safety information;

		·	Ensure the timely detection and investigation
of potential safety signals by AAA and FRI;

		·	Expedite the decision making process in
the event that an Adverse Event is likely to have an impact on the benefit/risk balance of the Product;

		·	Facilitate pharmacovigilance/risk management
programs.

		·	Ensure responses to the Local Competent
Regulatory Authority in the Territory in accordance with the applicable regulatory requirements in liaison with FRI. 

 

Certain confidential information
has been omitted from this document, as indicated by the notation “[*]”. The omitted information has been filed on
a confidential basis with the Securities and Exchange Commission pursuant to a request for confidential treatment.

 

    	 	23	 

     

    

 

 

Local Agreements
consistent with this global SDEA may need to be set up in the future to define a specific local safety data exchange in case of
local co-marketing/co-promotion situation.

 

		15.2	FRI commits itself to support AAA in performing local pharmacovigilance activities in strict compliance
with applicable legislation and regulations. For this FRI shall immediately inform AAA of any clinical trials that FRI intends
to sponsor or support or that come to FRI’s knowledge, e.g. the investigator initiated studies, sponsored by any other Third
Parties.

 

		16.	CONFIDENTIALITY.

 

		16.1	The Parties shall keep any and all Confidential Information in accordance with the CDA. This Agreement
is also subject to the CDA safe as provided in clause 16.3 below.

 

		16.2	Safe as provided in clause 16.3 below, the Parties agree that the matters set forth in this Agreement,
and all related discussions, as well as any information provided in connection with securing Marketing Authorization, as well all
documentation and/or information communicated within the Initial Disclosure and related to the purpose hereof are strictly confidential
and covered by the CDA.

 

		16.3	It is expressly agreed by the Parties that the CDA will continue in force and effect for the same
duration as the Agreement, provided, however, that anything to the contrary, the non-disclosure and non-use obligations of the
Parties under the CDA shall survive and remain in full force and effect for ten (10) years following expiration or termination
of the Agreement.

 

		16.4	The terms of the CDA and this Agreement shall not prohibit disclosure or use of any information
in connection with any fundraising or offering of securities by the Parties, or if required to be disclosed by applicable law,
any governmental body, or self-regulating agency, provided, however, that a Party shall obtain other Party’s prior written
consent for such disclosure or use. Other Party shall not unreasonably withhold the consent.

 

		17.	INTELLECTUAL
PROPERTY RIGHTS.

 

		17.1	Infringement of intellectual property rights 

 

In the event that FRI obtains knowledge
of any infringement or alleged infringement by a Third Party of any LuDOTATATE Patents, LuDOTATATE Know-How, and/or Lutathera Trademarks,
FRI shall inform AAA promptly of such infringement or alleged infringement and provide AAA with any available evidence of such
infringement or alleged infringement claim. AAA shall have the right but not the obligation to prosecute at its own cost and expense
any claim of infringement of any Patent Right, Know-How or Trade Mark. If AAA decides to prosecute any such claim, AAA shall have
full control of the defense of such claim, but shall consult with FRI in all matters in relation with such defense. At the reasonable
request of AAA, FRI, at its own expense except out-of-pocket expenses, shall provide reasonable assistance, in all suits or proceedings
and sign all necessary documents if appropriate to the situation. Any recovery in any action brought in accordance with this Section
shall be applied first to out-of-pocket costs incurred by AAA, and then to the costs of FRI in providing assistance as contemplated
by this Section, with the remainder to be retained by AAA. If AAA decides not to

 

    	 	24	 

     

    

 

prosecute any such claim, and thus causes
negative effect to FRI’s business directly, the Parties shall negotiate in good faith for a way to gain such economic recovery
by FRI. Such obligation for the Parties to negotiate shall not be construed as an obligation to compensate FRI unless AAA has failed,
as soon as AAA get knowledge of the infringement or alleged infringement from FRI, to take all appropriate measures in order to
avoid or minimize the adverse effects on FRI’s business or has not performed with Commercial Reasonable Efforts to minimize the
adverse effects on FRI business as the case is fully controllable by AAA without taking any measure which could be considered as
violating any, alleged or not, third party’s rights. For the purpose of this Article 17, “out-of-pocket expenses” or
“out-of-pocket cost” shall mean any cost, with the exception of legal costs such as attorneys’ fees, legal procedures
costs, experts fees and expenses, directly paid by a Party to a Third Party in connection with tasks required for its role, responsibility
or obligation herein. Legal costs, if to be supported by AAA, shall be submitted to its prior written approval by FRI.

 

		17.2	Allegations of Invalidity of LuDOTATATE Patents, the LuDOTATATE Know-How and Lutathera Trademarks

 

In the event that either
Party obtains knowledge of allegations of invalidity regarding a LuDOTATATE Patents, the LuDOTATATE Know-How and/or the Lutathera
Trademarks, such Party shall inform the other Party promptly of such allegations and provide the other Party with any available
evidence of such allegations.

 

AAA has the right, but
not the obligation, to defend against allegations of invalidity of a LuDOTATATE Patents, the LuDOTATATE Know-How and/or the Lutathera
Trademarks at its own cost and expense. If AAA decides to prosecute any such claim, AAA shall have full control of the defense
of such claim, but shall consult with FRI in all matters in relation with such defense. At the reasonable request of AAA, FRI,
at its own expense except out-of-pocket expenses (as defined in Article 17.1 above), shall provide reasonable assistance, in all
suits or proceedings and sign all necessary documents if appropriate to the situation. Any recovery in any action brought in accordance
with this Section shall be applied first to out-of-pocket costs incurred by AAA, and then to the costs of FRI for providing assistance
as contemplated by this Section, with the remainder to be retained by AAA. If AAA decides not to prosecute any such claim, and
thus causes negative effect to FRI’s business directly, the Parties shall negotiate in good faith for a way to gain such
economic recovery by FRI. Such obligation for the Parties to negotiate shall not be construed as an obligation to compensate FRI
unless AAA has failed, as soon as AAA get knowledge of the allegation of invalidity regarding a LuDOTATATE Patents, the LuDOTATATE
Know-How and/or the Lutathera Trademarks, to take all appropriate measures in order to avoid or minimize the adverse effects on
FRI’s business or has not performed with Commercial Reasonable Efforts to minimize the adverse effects on FRI business as the case
is fully controllable by AAA without taking any measure which could be considered as violating any, alleged or not, third party’s
rights.

 

		17.3	Product is Accused of Infringement

 

In the event any Product
is accused of infringement in the Territory, FRI shall immediately inform AAA of such accusations. AAA or FRI at AAA’s sole discretion
shall defend the Product, in all suits or proceedings and sign all necessary documents if appropriate to the situation with the
assistance of FRI. If AAA is unable for any reason to defend the Product solely in its own name, FRI will execute and

 

    	 	25	 

     

    

 

deliver its consent to
be joined as a party to such action. The costs and expenses of any action pursuant to this Section, including attorney’s fees,
legal costs and out-of- pocket costs and expenses shall be borne by AAA. In any case, any settlement of an action or claim by FRI
shall be subject to the AAA’s prior approval in writing which shall not be unreasonably withheld. In case of failure of such defense
of the Product, and thus causes negative effect to FRI’s business directly, the Parties shall negotiate in good faith for
a way to gain such economic recovery by FRI. Such obligation for the Parties to negotiate shall not be construed as an obligation
to compensate FRI unless AAA has failed, as soon as AAA get knowledge of the accusation of infringement from FRI, to take all appropriate
measures in order to avoid or minimize the adverse effects on FRI’s business or has not performed with Commercial Reasonable Efforts
to minimize the adverse effects on FRI business as the case is fully controllable by AAA without taking any measure which could
be considered as violating any, alleged or not, third party’s rights.

 

		17.4	Protection of the LuDOTATATE Patents and Lutathera Trademarks in the Territory

 

AAA shall at its own cost (without limiting
the foregoing):

 

		(a)	maintain and renew all existing and future registration of the LuDOTATATE Patents and/or Lutathera
Trademarks in the Territory,

		(b)	take all actions which FRI shall deem advisable to protect and defend the LuDOTATATE Patents and/or
Lutathera Trademarks against illicit copy , imitation or infringement by any Third Party in the Territory,

 

FRI shall: 

 

		(a)	inform AAA about any claim that may be threatened or are made against FRI by any Third Party alleging
that the use of the LuDOTATATE Patents and/or Lutathera Trademarks infringes any intellectual property rights,

		(b)	inform AAA about any illicit copy, imitation or infringement by any Third Party in the Territory
of the LuDOTATATE Patents and/or Lutathera Trademarks or the get up of the Products or the packaging or labeling thereof of which
FRI becomes aware.

 

FRI shall reasonably
assist AAA in maintaining the validity and enforceability LuDOTATATE Patents and Lutathera Trademarks in the Territory.

 

		17.5	Improvements

 

Each Party agrees to
notify the other promptly of any invention or improvement (whether patentable or not) of which it becomes aware (the “Improvements”).

 

The Parties hereby agree
that all Improvements developed during the term of this Agreement relating to the Product, shall be owned exclusively by such Party
who made the Improvements (the “Improving Party”) provided that the Improving Party is able to demonstrate that
its improvements have been developed through its own intellectual property rights . The Improving Party agrees to grant and hereby
grants to the other Party, as to the Improvements an exclusive royalty-free paid-up license to use such Improvements in its respective
territory during the term of this Agreement, with the prior written consent of the Improving Party, which shall not to be withheld
unreasonably.

 

    	 	26	 

     

    

 

		18.	Term AND Termination.

 

		18.1	The Agreement will commence on the Effective Date and will continue in force and effect for ten
(10) years after the date of the issuance of the first Marketing Authorization, provided, however, that if any change of approved
matters in the Marketing Authorization in relation with an expansion of efficacy or therapeutic line is obtained by FRI during
the Initial Term, the Agreement shall further continue in force and effect for certain years to cover ten (10) years from the date
of the issuance of such regulatory approval for the change of approved matters.

 

		18.2	Unless either Party gives to the other Party a written notice of termination at least one hundred
twenty (120) days prior to the expiration of the Agreement with a letter with acknowledgement of receipt, it shall be automatically
renewed for two (2) year period, and the same shall apply thereafter.

 

		18.3	In case governmental provisions or laws of nationalization, confiscation and requisition or anyhow
preventing the performance of the obligations arising from the present Agreement are issued in the Territory, the Parties shall
cooperate in good faith to achieve an orderly transition with respect to, if any, the continued Development or commercialization
of the Product in the Territory. In such a case, only if the case is fully controllable by FRI and AAA suffers negative effect
on its business, the Parties shall negotiate in good faith for a way to gain such economic recovery by AAA. Such obligation for
the Parties to negotiate shall not be construed as an obligation to compensate AAA unless FRI has failed to inform AAA and/or to
take all appropriate measures in order to avoid or minimize the adverse effects or has not performed with Commercial Reasonable
Efforts to minimize the adverse effects on AAA business as the case is controllable by FRI.

 

		18.4	If either of the Parties should breach any term or fail to fulfill any obligation under this Agreement,
the other Party shall have the right to notify the defaulting Party by registered letter to cure its breach or to fulfill its obligation
under penalty of termination of this Agreement. If the defaulting Party shall not have cured its breach, fulfilled its obligation,
or agreed with the non-defaulting Party on an amendment of any condition regarding the obligation in question within sixty(60)
days from the postmark of said registered letter, the non-defaulting Party shall have the right to terminate this Agreement by
giving a sixty (60) days advance written notice to the defaulting Party, without prejudice to the other rights of either Party
under this Agreement and applicable law.

 

		18.5	AAA shall have the right to terminate at any time this Agreement by giving a sixty (60) days advance
written notice to FRI, should any of the following conditions arise:

 

		(a)	FRI is in material breach of its obligations under the Agreement and shall not have cured such
material breach, or fulfilled its obligation;

		(b)	FRI does not meet the agreed Timeline of the Development of the Product due to its misconduct or
negligence and failed to agree on specific means to catch up or to minimize the delay with AAA;

		(c)	FRI fails to obtain Marketing Authorization in the Territory

 

    	 	27	 

     

    

 

		(d)	FRI does not market any of the Product in the Territory for more than ninety (90) consecutive days
after the NHI price for the Product is established while the Products being in compliance with applicable regulations is available
for market by FRI;

		(e)	FRI becomes insolvent or goes into bankruptcy, liquidation, receivership or into any comparable
proceedings for settlement of debts; and,

		(f)	In the event of Change of Control in FRI which gives negative or costly impact to the business
relating to the Product. Under this Agreement “Change of Control” shall refer to (i) the transfer or assignment
by a Party of a substantial amount of its assets as an on-going concern or rights related thereto to Third Parties other
than its Affiliate or (ii) the sale of the majority of a Party’s share capital to Third Parties other than its Affiliate,
or the merger, amalgamation or incorporation of a Party with another company other than its Affiliate or other transactions, in
which a Party’s shareholders as of the date of this Agreement do not own (directly or indirectly), after such transaction,
the majority of the share capital of the acquiring or surviving entity, unless agreed to in writing by the other Party.

 

		18.6	FRI shall have the right to terminate at any time this Agreement by giving a sixty (60) days advance
written notice to AAA, should any of the following conditions arise:

 

		(a)	AAA is in material breach of its obligations under the Agreement and shall not have cured such
material breach, or fulfilled its obligation;

		(b)	AAA fails to acquire Marketing Authorization and decided to cease development of the Product outside
the Territory;

		(c)	AAA becomes insolvent or goes into bankruptcy, liquidation, receivership or into any comparable
proceedings for settlement of debts, which resulted in halting of the development of the Product outside the Territory;

		(d)	FRI decides to abandon or withdraw the Marketing Authorization because it concludes in good faith
that further sales of the Product in the Territory is not commercially reasonable. In such a case, the Marketing Authorization
will be transferred to AAA or any Third Party designated by AAA to the extent permitted by applicable laws and regulations, if
AAA requests so.

 

In such cases
as the Section 18.6 (a), Section 18.6 (b) and Section 18.6 (c) to the extent only AAA is liquidated (that means that AAA business
activity is not run anymore due to the liquidation and not in receivership (“redressement judiciaire”), FRI’ non-compete
obligation defined in Article 19 shall become invalid and FRI shall be free to manufacture, sell, distribute, market or promote
any product similar to the Product in the Territory.

 

		18.7	Upon termination or expiration of the present Agreement,

 

FRI shall:

		(a)	cease using all technical and other data furnished to it by AAA hereunder and shall, at AAA ’s
option, destroy or return to it all documents containing such data;

		(b)	cease to use the AAA LuDOTATATE Patents, the LuDOTATATE Know-How, Lutathera Trademarks and AAA’s
Improvement, if applicable;

 

    	 	28	 

     

    

 

		(c)	in case the termination is pursuant to Section 18.3 due to FRI’s misconduct, Section 18.4
due to FRI’s breach, Section 18.5 and Section 18.6(d), transfer the Marketing Authorization to AAA or to any entity duly
designated by AAA, if applicable, provided, however, that the cost for such transfer shall be borne by FRI if the termination is
pursuant to Section 18.4 due to FRI’s breach, Section 18.5 and Section 18.6(d) and be borne by AAA if the termination is
pursuant to Section 18.4 due to AAA’s breach and Section 18.6 (except 18.6 (c) if AAA is not liquidated) and 18.6(d));

		(d)	still be abide by its obligation of confidentiality hereunder as provided for in Article 16 and
by any other obligations under the Agreement and shall continue to be liable to and shall pay to AAA all payments due in accordance
with Article 7and Article 8, if applicable, above and shall continue to properly assure at its own costs and expenses all maintenance
and services of Product previously sold in the Territory;

		(e)	at AAA ’s election, destroy or return to AAA all literature, labels or other materials relating
to the Product;

		(f)	pay AAA with respect to any Firm Orders placed prior the terminate or expiration date for Product,
AAA being entitled to invoice such Firm Orders.

 

AAA shall:

		(a)	cease to use the FRI Know-How, FRI Data Package and FRI’s Improvement, if applicable, except
in case the termination is pursuant to Section 18.3 due to FRI’s misconduct, Section 18.4 due to FRI’s breach, Section
18.5 and Section 18.6 (b), Section 18.6(c) only in the case of liquidation and Section 18.6(d); and,

		(b)	still be abide by its obligation of confidentiality hereunder as provided for in Article 16 and
by any other obligations under the Agreement.

 

		19.	NON-COMPETE
CLAUSE.

 

		19.1	FRI undertakes, directly or indirectly (including but not limited to its Affiliates) not to enter
into any other agreement for the manufacturing, sale, distribution, marketing or promotion in the Territory of any radiopharmaceutical
product utilizing the same mechanism of action with the Product during the term of the Agreement.

 

This
obligation remains in force for a one (1) year after termination or expiration of this Agreement unless
the termination or expiration is at AAA’s sole discretion against FRI’s reasonable will or the termination is pursuant
to Section 18.6(a), Section 18.6(b) or Section 18.6(c).

 

		19.2	FRI shall not (i) promote the sales of the Product outside the Territory, (ii) establish branches
and warehouses for the purpose of selling the Product outside the Territory, or (iii) advertise the Product outside the Territory.

 

		20.	FORCE MAJEURE.

 

A Party shall not be
in breach of this Agreement, nor liable for, any failure or delay in performance of its obligations under this Agreement (other
than a payment obligation) arising from or attributable to acts, events, omissions or accidents beyond its reasonable control (the
“Force Majeure Event”).For the purposes of this Article, Force Majeure Event includes but is not limited to
act of God, war,

 

    	 	29	 

     

    

 

abnormal weather conditions,
riots, uprisings, government action or non-action, fires, floods, national strikes (excluding strikes limited to the other Party’s
personnel), or other such events outside the control of either Party.

 

A Party that is subject
to a Force Majeure Event shall promptly notify the other Party in writing of the nature and extent of the Force Majeure Event causing
its failure or delay in performance; and use all Commercially Reasonable Efforts to mitigate the effect of the Force Majeure Event,
to carry out its obligations under this Agreement in any way that is reasonably practicable, and to resume the performance of its
obligations as soon as reasonably possible.

 

If the Force Majeure
Event continues for a continuous period of more than sixty (60) days, the Management Committee shall meet to agree on strategic
decisions in relation with such Force Majeure Event. If the Management Committee will not agree on suitable strategic decisions,
either Party may terminate the Agreement by giving written notice to the other Party having immediate effect without any compensation
to the other Party.

 

		21.	WARRANTIES
AND LIABILITIES.

 

		21.1	AAA shall supply FRI with Product with the characteristics and in compliance with the specifications
required in the relevant Marketing Authorizations and in compliance with Quality Agreement between the Parties.

 

AAA
agrees to save and hold FRI and/or its officers, directors, shareholders, employees and agents harmless from any and all suits,
claims, actions, liabilities, expenses, losses and/or costs (including
reasonable legal fees and costs), resulting from the negligence or misconduct of AAA relating to:

		(a)	material breach by AAA of its obligations under this Agreement; or

		(b)	any negligent, willful or unlawful act or omission of AAA or any of its officers, directors, shareholders,
employees or agents; or

		(c)	any injury or death of any person, directly arising from damages alleged to arise from the manufacturing
of the Product/s by AAA, not conforming with cGMP, Marketing Authorization and/or Quality Agreement,

provided, that in case FRI
shall have acted negligently in connection with its obligations hereunder, AAA’s indemnification commitment under this Section
shall not cover any liability, expenses and/or losses, which would have been avoided, if FRI had properly fulfilled its obligations
hereunder or those in connection with the Agreement. This indemnification shall be valid provided that FRI gives AAA prompt notice
in writing of every complaint, claim, or lawsuit concerning the Product keeps AAA fully informed of the status of each FRI has
acknowledged, and gives AAA reasonable access to its records pertaining to each such complaint, claim or lawsuit.

 

		21.2	FRI agrees to save and hold AAA and/or its officers, directors, shareholders, employees and agents
from any and all suits, claims, liabilities, expenses, losses and/or costs (including reasonable legal fees and costs) resulting
from the negligence or misconduct of FRI relating to

		(a)	material breach by FRI of its obligations under this Agreement; or

		(b)	any negligent, willful or unlawful act or omission of FRI or any of its officers, directors, shareholders,
employees or agents; or

 

    	 	30	 

     

    

 

		(c)	any injury or death of any person, directly arising from damages alleged to arise from the transport,
storage and distribution of the Product/s in the Territory by FRI, not conforming with AAA’s instructions,

provided, that in case AAA
shall have acted negligently in connection with its obligations hereunder, FRI’s indemnification commitment under this Section
shall not cover any liability, expenses and/or losses, which would have been avoided, if AAA had properly fulfilled its obligations
hereunder or those in connection with the Agreement. This indemnification shall be valid provided that AAA gives FRI prompt notice
in writing of every complaint, claim or lawsuit concerning the Product, keeps FRI fully informed of the status of each AAA has
acknowledged, and gives FRI reasonable access to its records pertaining to each such complaint, claim or lawsuit.

 

		21.3	Throughout the Development phase to Marketing phase, FRI undertakes to exercise its diligence in
ascertaining possible defects such as but not limited to broken or missing units, mislabeling, misfiling, misuse, non compliant
utilization, and the like, as well as the compliance of the Product with the relevant descriptions given in the invoices and with
the packaging lists and any other relevant documentation. Any claim regarding such defects must be made by FRI in writing with
full particulars thereof and notified to AAA within ten (10) Business Days from receipt thereof. If no such claim in writing is
notified within said term, the Product/s will be considered as free from defects, except for any hidden defects which are to be
reported according to Article 13 as well as the Quality Agreement. AAA agrees that it will replace or refund for any Product which
was defective at the time of the delivery to FRI, as determined by FRI’s acceptance/quality testing.

 

		21.4	FRI shall be solely responsible for the direct consequences of any utilization of the Product which
does not comply with any legislation and regulation applicable, with the Design Study or the Study, with the Marketing Authorization
or any other relevant documentation and more particularly shall be answerable to AAA for any economic and financial consequences
which the latter may incur in the event that the initiative taken by FRI which has not received the prior written consent of AAA
or any of the Regulatory Authorities.

 

		21.5	AAA shall be solely responsible for the direct consequences of any utilization of the Product in
the Territory which does not comply with cGMP in manufacturing by AAA or any other conditions provided by the Marketing Authorization
or the Quality Agreement, and more particularly shall be answerable to FRI for any economic and financial consequences.

 

		21.6	In no circumstances, a Party shall be liable for indirect or consequential damages suffered or
alleged to be suffered by the other Party, such as but not limited to loss of turnover, loss of business income, loss of margin,
loss of customers, loss of contracts.

 

		21.7	FRI shall, at its sole cost, self-insure or obtain and maintain adequate insurances in respect
of its liabilities under the Agreement. FRI shall, if requested by AAA, provide evidence that such insurances have been put in
place or FRI has adequately self-insured.

 

    	 	31	 

     

    

 

		22.	MISCELLANEOUS.

 

		22.1	Entire Agreement

 

This Agreement (including six (6) schedules
that constitute integral parts hereof) constitutes the entire agreement and supersedes all prior agreements and understandings,
both written and oral, among the Parties hereto, with respect to the subject matter, except the CDA. This Agreement can be amended
or modified only in a subsequent written document signed by the Parties.

 

		22.2	Notices

 

Any notices, requests and other communications
hereunder shall be in writing and shall be deemed to have been duly given when hand delivered or when mailed by registered or certified
mail, return receipt requested, postage prepaid, addressed to the respective addresses of the Parties as stated below:

 

For AAA:

Advanced Accelerator Applications
INTERNATIONAL

To Richard VALEIX – Gérard
BER

4, rue Tour de l’île,
01 Genève, Suisse

Mail: richard.valeix@adacap.com
(with copy to gerard.ber@adacap.com)

 

For FRI:

FUJIFILM RI Pharma, Co., Ltd.

To [XXXXXXXX]

14-1 Kyobashi 2-Chome, Chuo-ku,
Tokyo 104-0031, Japan

Mail:
[XXXXXXXX] (with a copy to [XXXXXXXX])

 

The usage of email is foreseen and scanned
in (PDF) documents with signatures are accepted.

 

		22.3	Relationship of the Parties

 

Each Party in performing its obligations
and duties hereunder shall be conclusively deemed to be an independent contractor and not under the control and supervision of
the other Party hereto and nothing in this Agreement shall be read to create any agency, partnership, joint venture, trust or other
fiduciary relationship between the Parties.

 

		22.4	Publicity

 

For the term of this Agreement, neither
Party shall use the other Parties’ name or refer to it directly or indirectly in an advertisement, news release or release
to any professional or trade publication without approval from such Party.

 

  

    	 	32	 

     

    

 

		22.5	Assignment

 

The Parties shall not assign, transfer
or otherwise dispose of this Agreement or any rights, interests or obligations resulting thereof without prior written consent
of the other Party.

 

		22.6	Headings

 

The headings and other captions contained
in this Agreement are for reference and convenience purposes only and shall not affect in any way the meaning or interpretation
hereof or the construction of this Agreement.

 

		22.7	Further Assurances

 

Each of the Parties shall, from time to
time, and without charge to other parties, take such additional actions and execute, deliver and file additional instruments as
may be reasonably required to give effect to the transactions contemplated by this Agreement.

 

		22.8	Changes

 

No change or modification of this Agreement
shall be valid unless the same is in writing and signed by the Parties hereto.

 

		22.9	Waiver

 

The failure of any Party at any time to
insist upon strict performances of any conditions, promise, agreement or understanding set forth herein shall not be construed
as a waiver or relinquishment of the right to insist upon strict performance of the same or any other condition, promise, agreement
or understanding at a future time.

 

		22.10	Severability

 

In the event any term or other provision
hereof is invalid, illegal or incapable of being enforced by any rule of law or public policy, all other terms, conditions and
provisions of this Agreement shall nevertheless remain in full force and effect as long as the economic or legal substance of the
obligations contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any
term or other provisions is invalid, illegal or incapable of being enforced, the Parties hereto shall negotiate in good faith to
modify this Agreement so as to effect the original intent of the Parties as closely as possible to the fullest extent permitted
by applicable law in an acceptable manner to the end that the obligations contemplated hereby are fulfilled to the extent possible.

 

		23.	GOVERNING
LAW.

 

The Agreement shall be
governed by and interpreted in accordance with Swiss law, whatever the applicable arbitration rules and/or the place of
arbitration.

 

    	 	33	 

     

    

 

		24.	DISPUTE RESOLUTION
AND ARBITRATION.

 

Any and all disputes
in connection with or arising out the Agreement shall, insofar as possible, be settled amicably by the Parties. The Parties agree
to negotiate in good faith to settle.

 

If the Parties cannot
come to an amicable settlement within a maximum of six (6) months from first letter of any Party requiring an amicable settlement,
any and all controversies or claims arising out of or relating to the Agreement or the beach thereof shall be finally settled by
arbitration. The arbitration shall be undertaken in Geneva, Switzerland in accordance with the Swiss Rules of International Arbitration
of the Swiss Chambers Arbitration Institution (as of the Effective Date) if requested by FRI, and in Tokyo, Japan in accordance
with the Commercial Arbitration Rules of the Japan Arbitration association (as amended and effective on February 1st, 2014) if
requested by AAA. The cost of arbitration shall be borne equally between both Parties. The language to be used in the arbitral
proceedings shall be English. The award of the arbitration shall be final and binding upon both Parties.

 

IN WITNESS WHEREOF, the Parties hereto
have executed this Agreement by their duly authorized representatives in two (2) counterparts and each Party holds one:

 

FUJIFILM RI Pharma Co., Ltd.

 

	BY:	/s/ Yoshiro Kumano	 
	 	Yoshiro Kumano	 
	Title:	President and CEO	 

 

ADVANCED ACCELERATOR APPLICATIONS INTERNATIONAL

 

	BY:	 /s/ Gerard BER	 
	 	Gerard BER	 
	Title:	Chief Executive Officer 	 

 

    	 	34	 

     

    

 

SCHEDULE 1

 

LuDOTATATE Patent

 

177Lu-Dotatate: Applicant Mallinckrodt.
Biosynthema, a 100% AAA’s subsidiary, has acquired through a license from Mallinckrodt the exclusive rights to Develop and
commercialize [177Lutetium]-DOTA0-Tyr3-Octreotate in the field of human oncology.

 

	Country	 	Filling  Date	 	Appli N°	 	Grant. Date	 	Patent N°	 	Exp. Date	 	Status
	Austria	 	6-Jun-96	 	96922403.9	 	21-May-08	 	E395938	 	6-Jun-16	 	Granted
	Belgium	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	Canada	 	6-Jun-96	 	2224153	 	17-Aug-10	 	2224153	 	6-Jun-16	 	Granted
	Denmark	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	Finland	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	France	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	Germany	 	6-Jun-96	 	96922403.9	 	21-May-08	 	69637535.4	 	6-Jun-16	 	Granted
	Greece	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	Ireland	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	Italy	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	Japan	 	6-Jun-96	 	9-501714	 	26-Dec-08	 	4236282	 	6-Jun-16	 	Granted
	Liechtenstein	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	Netherlands	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	Portugal	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	Spain	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	Sweden	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	Switzerland	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	Great Britain	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Granted
	USA	 	7-Jun-95	 	480373	 	3-Nov-98	 	5830431	 	3-Nov-15	 	Granted
	USA	 	12-Dec-97	 	08/9894434	 	8-Sep-98	 	5804157	 	7-Jun-15	 	Granted
	Europe	 	6-Jun-96	 	96922403.9	 	21-May-08	 	831938	 	6-Jun-16	 	Converted
	Europe	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Converted
	Europe	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Austria	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Belgium	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Denmark	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Finland	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	France	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Germany	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	69638531.7	 	6-Jun-16	 	Granted
	Greece	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Ireland	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Italy	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Liechtenstein	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Netherlands	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Spain	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Sweden	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Switzerland	 	6-Jun-96	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted
	Great Britain	 	6-Jul-95	 	7019899.9	 	17-Oct-12	 	1872800	 	6-Jun-16	 	Granted

 

    	 	35	 

     

    

 

SCHEDULE 2

 

Lutathera Trademarks

 

	Trademark	 	Owner	 	Deposit

    number	 	Procedure	 	Concerned Countries	 	Deposit

    date	 	Expiration

    date
	LUTATHERA	 	AAA	 	11/3813746	 	National (France)	 	France	 	11/03/2011	 	11/03/2021
		 		 		 		 	Europe, Australia, China, Israel, Mexico, New Zealand, Japan, Liechtenstein, Swiss, US, Brazil, Argentina. 	 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
	LUTATHERA	 	AAA	 	1089014	 	International	 	Russian Federation: posterior designation :10/09/2013	 	28/07/2011	 	28/07/2021
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Pending:  Russian Federation (Protocole), Canada, India, South Africa.	 	 	 	 
	LUTATHERA	 	AAA	 	 	 	International	 	Argentine	 	24/10/2013	 	 

 

    	 	36	 

     

    

 

SCHEDULE 3

 

Preclinical Development, Clinical
Development and CMC/Process Development definitions 

 

To be prepared by FRI after Initial Disclosure

 

    	 	37	 

     

    

 

SCHEDULE 4

 

Main
terms and conditions of the Quality Agreement 

 

In the event of any inconsistency between
the Quality Agreement and this Agreement with regard to matters relating to supply, quality control, quality assurance, package,
label and storage, the terms of the Quality Agreement shall prevail.

 

    	 	38	 

     

    

 

SCHEDULE 5

 

Pre-timeline as agreed after Initial Disclosure+

–Timeline
agreed by the Steering Committee

 

The Timeline will be first proposed by
FRI within six (6) months after the Initial Disclosure, and then agreed by the Steering Committee (the “Original Timeline”),
and will be revised from time to time by the Steering Committee. The Original Timeline will be attached herein for a reference
as soon as it is agreed by the Steering Committee.

 

    	 	39	 

     

    

 

SCHEDULE 6

 

CONFIDENTIALITY AND NON DISCLOSURE AGREEMENT
(the “CDA”) entered into between the Parties as of November 7, 2013

 

    	 	40	 

     

    

CONFIDENTIALITY
AND NON DISCLOSURE AGREEMENT

This Agreement is
made as of the date written below by and between FUJIFILM RI PHARMA, a Japanese company incorporated in Tokyo with registered
office in 14-1, Kyobashi 2-Chome, Chuo-ku, Tokyo, Japan, and ADVANCED ACCELERATOR APPLICATIONS, a company incorporated in
France, with registered office at 20 rue Diesel, 01630 Saint-Genis-Pouilly, France.

In connection with
a possible business relationship between the parties, the parties intend to mutually disclose certain confidential information
regarding their respective business and technology and technical information related to a potential partnership for the purpose
of developing Lutathera in Japan and study the feasibility developing PRRT in Japan. The purpose of such disclosure is to allow
the parties to evaluate the Confidential Information to determine whether each part is interested in entering into a future business
relationship (the “Purpose”). Each party hereinafter referred to as “Receiving Party”, in connection with
the information received from the other party, and “Disclosing Party”, in connection to the information disclosed to
the other party, as the case may be;

The parties agree
as follows:

1. As used
in this Agreement, the term “Confidential Information” means any information that is (i) disclosed by the
Disclosing Party in writing and is marked as “confidential” at the time of disclosure, or that is (ii) disclosed
by the Disclosing Party in any other manner, is identified as confidential at the time of disclosure and is also designated
as confidential in a writing delivered to the Receiving Party within fifteen (15) days of the disclosure. Such Confidential
Information may include, without limitation, in relation to the parties or to any company of their group, trade secrets,
know-how, inventions, technical data, research results or specifications, testing methods, clinical trial data information,
protocols and results, information regarding proprietary compounds or agents, business or financial information, research and
development activities, product and marketing plans, and customer and supplier information.

2. The
Receiving Party agree that it shall:

		(a)	maintain all Confidential Information in strict confidence, and shall only disclose the Confidential
Information to its employees, affiliates or consultants who: (i) have a need-to-know and, (ii) are aware and bound by the same
non-disclosure and non-use obligations under this Agreements; and

		(b)	use all Confidential information solely for the Purpose and for no other purpose.

3. The
Obligations of the Receiving Party under Section 2 above shall not apply to the extent that the Receiving Party can
demonstrate that certain Confidential Information:

		(a)	was in the public domain prior to the time of its disclosure under this Agreement;

		(b)	entered the public domain after the time of its disclosure under this Agreement through means other
than an unauthorized disclosure resulting from an act or omission by the Receiving Party or its respective directors, officers
or employees;

 

    	 	41	 

     

    

		(c)	was independently developed or discovered by the Receiving Party without use of or reference to
the Confidential Information nor access or knowledge of the Confidential Information by the discovering person;

		(d)	is or was disclosed to the Receiving Party by a third party having no obligation of confidentiality
with respect to such Confidential Information and without any violation of the Disclosing Party’s rights in connection with
such Confidential Information; or

		(e)	is required to be disclosed to comply with applicable laws or regulations, or with a court or administrative
order; provided, that, the Receiving Party notifies the Disclosing Party promptly upon receipt of such court or administrative
order and/or prior to any disclosure and provided, further, that the Receiving Party shall take all reasonable and lawful
actions to obtain confidential treatment for such disclosure and to minimize the extent of the disclosure, and that the Receiving
Party furnishes only that portion of the Confidential Information which is legally required to be disclosed.

4. Each of
the parties acknowledges that Confidential Information of the Disclosing Party (or of any third party entrusting its own
confidential information to the Disclosing Party) and all patent, copyright, trademark, trade secret, and other intellectual
property rights in, or arising from, such Confidential Information shall remain in the ownership (or other right to use) of
the Disclosing Party. No option, license, or conveyance of such rights to the Receiving Party is granted or implied under
this Agreement.

5. In the event
any invention or discovery (whether or not patentable) is conceived. developed or reduced to practice as a result of a breach of
this Agreement by the Receiving Party (its affiliates, agents, consultants or directors, officers or employees, without limitation)
or unauthorized use of the Confidential Information, such invention or discovery shall be owned solely by the Disclosing Party
and, without limitation of any other right or remedy of the Disclosing Party in connection with such breach, the Receiving Party
shall transfer to the Disclosing Party and does hereby assign its entire right, title and interest in and to such invention or
discovery, including any intellectual property rights therein, and shall take all actions, including executing documents of assignment,
necessary to vest the title to such invention or discovery solely with the Disclosing Party.

6. The Receiving
Party shall not be entitled to copy samples, models, computer programs, drawings documents or other instruments furnished by the
Disclosing Party hereunder and containing Confidential Information, unless and to the extent it is necessary for the Purpose. All
samples, models, computer programs, drawings, documents and other instruments furnished hereunder and containing Confidential Information
shall remain the Disclosing Party’s property. Such instruments shall be promptly returned by the Receiving Party upon the
Disclosing Party’s request.

 

    	 	42	 

     

    

7. Neither Party
is compelled under this Agreement to disclosure to the other Party any information nor makes any representations regarding the
accuracy, completeness, update or freedom from defects and errors of the information disclosed.

8. The execution
and performance of this Agreement may not be interpreted nor construed as an obligation of either Party to enter into any other
agreement or to perform any obligations other than as specified herein. Nothing in this Agreement shall in any way restrict either
Parties ability to enter into any relationship with any other company or person, nor shall be construed as compelling one Party
to enter into any relationship with the other Party.

9. This Agreement
shall become effective on the day it has been duly signed by both Parties (the “Effective Date”). The Provisions of
this Agreement shall however apply retroactively to any Confidential Information that may have been disclosed in connection with
discussions and negotiations between the Parties prior to the Effective Date. This Agreement shall remain in force for five (5)
years from the Effective Date.

10. If visiting
the Disclosing Party’s premises, the visiting Party and its employees, if any, shall be subject to the Disclosing Party’s
badge and pass requirements in effect at the site visited. The visiting party agrees to be bound by all orders, rules, and regulations
of the site visited pertaining to the use of its facilities. Except for injury or damage caused solely by the fault or negligence
of the Disclosing Party, the Disclosing Party shall not be liable under any circumstances for any personal or property injury or
damage done or suffered by the visiting party or its employees’ or other service providers, if any, and the visiting pat1y
shall assume all risk of such injury or damage while on the Disclosing Party’s premises.

11. This Agreement
shall be governed by the laws of France. In the event of any dispute arising out of or in connection with the present Agreement
the Parties agree to submit the matter to settlement proceedings under the ICC /ADR Rules. If the dispute has not been settled
pursuant to the said Rules within 45 days following the filing of a Request for ADR or within such other period as the parties
may agree in writing, such dispute shall be finally settled undertaken in Geneva, Switzerland, in accordance with the ICC ADR Rules
by one or more arbitrators appointed in accordance with the said Rules of Arbitration. The language for any dispute shall be English.

	FUJIFILM RI PHARMA		Advanced Accelerator Applications S.A.
	

By:	

/s/ Takao Minamizawa		By:	/s/ Stefano Buono
		Name:Takao Minamizawa			Name:Stefano Buono
		
        Title:Director, Senior Vice President

        Research, Development & Pharmaceutical Affairs
			
        Title:CEO

        Advanced Accelerator Applications SA

        20, rue Diesel 01630 Saint-Genis-Pouilly

        441 417 110 RCS Bourg-en-Bresse

		Date: 7 November 2013			Date: 24 October 2013

 

 

    	 	43

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