Document:

Third Amended and Restated 2000 Non-Employee Director Stock Option Plan

 Exhibit 10.1 
  
 Amended and restated as of 6/1/2004 
  

GLOBAL PAYMENTS INC. 
 THIRD
AMENDED AND RESTATED 
 2000 NON-EMPLOYEE DIRECTOR STOCK OPTION PLAN 
  
 1. Purpose. The purpose of the Global Payments Inc. Amended and Restated 2000 Non-Employee Director Stock Option Plan
(the “Plan”) is to advance the interests of Global Payments Inc. (the “Company”) by encouraging ownership of the Company’s no par value common stock of the Company, and such other securities of the Company as may be
substituted for such stock pursuant to Section 6 hereof (the “Common Stock”) by certain non-employee directors of the Company, thereby giving such directors an increased incentive to devote their efforts to the success of the Company.

  
 2. Administration. Grants of options under this Plan
are automatic. This Plan is intended to be a “formula plan” for purposes of Section 16(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall be interpreted accordingly. The Board of Directors of
the Company has authority to interpret the Plan and otherwise administer the plan in accordance with its terms. 
  
 3. Eligibility. Except as provided otherwise in this Section 3, options under the Plan shall be granted in accordance with Section 5 to each
Non-Employee Director (as defined below) of the Company; provided that shares of the Company’s Common Stock remain available for grant hereunder in accordance with Section 4. For purposes of this Plan, a “Non-Employee Director” shall
mean each member of the Company’s Board of Directors who is not an employee of the Company or any of its affiliates and who has not been appointed or elected to the Board solely by reason of his or her affiliation with a shareholder of the
Company. Non-Employee Director to whom an option is granted under the Plan shall be referred to hereinafter as a “Grantee.” 
  
 4. Shares Subject to Plan. The shares subject to the Plan shall be authorized but unissued or reacquired shares of the Company’s Common Stock.
Subject to adjustment in accordance with the provisions of Section 6 of the Plan, the maximum number of shares of Common Stock for which options may be granted under the Plan shall be 400,000 and the initial adoption of the Plan by the Board of
Directors of the Company shall constitute a reservation of 400,000 authorized but unissued, or reacquired, shares of Common Stock for issuance only upon the exercise of options granted under the Plan. In the event that any outstanding option granted
under the Plan for any reason expires or is terminated prior to the end of the period during which options may be granted under the Plan, the shares of Common Stock allocable to the unexercised portion of such option may again be subject in whole or
in part to any option granted under the Plan. 

 5. Terms and Conditions of Options. Options granted pursuant to the Plan shall be evidenced by
Stock Option Agreements in such form as shall comply with and be subject to the following terms and conditions: 
  
 (a) Grant. Each person who becomes a Non-Employee Director shall be granted on the date that he or she first becomes a Non-Employee Director an
option to purchase that number of shares of the Company’s Common Stock having a value of $60,000 pursuant to the Black-Scholes option pricing model on the date of the grant (utilizing the same assumptions as the Compnay utilizes for its proxy
disclosure), multiplied by a fraction, the numerator or which is the number of full months before the next regularly scheduled annual shareholders meeting of the Company, and the denominator of which is 12. In addition, as of the day following each
annual meeting of the Company’s public shareholders, each Non-Employee Director serving as such on that date shall be granted an option to purchase that number of shares of the Company’s Common Stock having a value of $60,000 pursuant to
the Black-Scholes option pricing model on the date of the grant (utilizing the same assumptions as the Company utilizes for its proxy disclosure). Each such day that options are to be granted under the Plan is referred to hereinafter as a
“Grant Date.” 
  
 If on any Grant Date, shares of Common
Stock are not available under this Plan to grant to Non-Employee Directors the full amount of a grant contemplated by the immediately preceding paragraph, then each Non-Employee Director shall receive an option (a “Reduced Grant”) to
purchase shares of Common Stock in an amount equal to the number of shares of Common Stock then available under the Plan divided by the number of Non-Employee Directors as of the applicable Grant Date. Fractional shares shall be ignored and not
granted. 
  
 If a Reduced Grant has been made and, thereafter,
during the term of this Plan, additional shares of Common Stock become available for grant (e.g., because of the forfeiture or lapse of an option), then each person who was a Non-Employee Director both on the Grant Date on which the Reduced Grant
was made and on the date additional shares of Common Stock become available (a “Continuing Non-Employee Director”) shall receive an additional option to purchase shares of Common Stock. The number of newly available shares shall be divided
equally among the options granted to the Continuing Non-Employee Directors; provided, however, that the aggregate number of shares of Common Stock subject to a Continuing Non-Employee Director’s additional option plus any prior Reduced Grant to
the Continuing Non-Employee Director on the applicable Grant Date shall not exceed that number of shares having a Fair Market Value equal to $125,000 as of the date on which the applicable Reduced Grant was made. If more than one Reduced Grant has
been made, available options shall be granted beginning with the earliest such Grant Date. 
  
 (b) Exercise Price. The exercise price for each option granted under the Plan shall be the Fair Market Value of the shares of Common Stock subject to the option on the date of grant of the option. For purposes
of the Plan, the “Fair Market Value” on any date, means (i) if the Common Stock is listed on a securities exchange or is traded over the Nasdaq National 

 Market, the closing sales price on such exchange or over such system on such date or, in the absence of reported sales on
such date, the closing sales price on the immediately preceding date on which sales were reported, or (ii) if the Common Stock is not listed on a securities exchange or traded over the Nasdaq National Market, the mean between the bid and offered
prices as quoted by Nasdaq for such date, provided that if it is determined that the fair market value is not properly reflected by such Nasdaq quotations, Fair Market Value will be determined by such other method as the Board of Directors
determines in good faith to be reasonable. 
  
 (c) Medium and
Time of Payment. The exercise price shall be payable in full upon the exercise of an option in cash and/or shares of Common Stock; provided, however, that if shares of Common Stock are used to pay the exercise price of an Option, such shares
must have been held by the Grantee for at least six months. In the event that all or part of the exercise price of an option is paid by the surrender to the Company of shares of Common Stock previously held by the Grantee, such shares shall be
valued at their Fair Market Value as of the date of exercise, and the Grantee shall deliver to the Company a certificate of certificates representing such shares duly endorsed to the Company or accompanied by a duly-executed separate instrument of
transfer satisfactory to the Board of Directors. To the extent permitted under Regulation T of the Federal Reserve Board, and subject to applicable securities laws, options may be exercised through a broker in a so-called “cashless
exercise” whereby the broker sells the option shares and delivers cash sales proceeds to the Company in payment of the exercise price. 
  
 (d) Term. Each option granted under the Plan shall, to the extent not previously exercised, terminate and expire on the date ten (10) years after
the date of grant of the option, unless earlier terminated as provided hereinafter in Section 5(g). 
  
 (e) Exercisability. Except as set forth below, each option granted under this Plan shall vest (become exercisable) in accordance with the following
schedule: 
  

				
	 Years of Service
 After Date of
Grant

	  	 Percent of Option Shares
 Vested

	 
	 1
	  	25	%
	 2
	  	50	%
	 3
	  	75	%
	 4
	  	100	%

  
 Notwithstanding the
foregoing, each option granted under this Plan shall vest (become exercisable) as to all of the shares covered thereby upon the termination of the Grantee’s membership on the Board of Directors of the Company by reason of death, Disability,
Retirement or failure to be re-nominated or re-elected as a director. For purposes of this Plan, “Disability” shall mean any illness or other physical or mental condition of a Grantee that renders him or her incapable of performing as a
director of the Company, or any 

 medically determinable illness or other physical or mental condition resulting from a bodily injury, disease or mental
disorder which, in the judgment of the Board of Directors, is permanent and continuous in nature. The Board of Directors may require such medical or other evidence as it deems necessary to judge the nature and permanency of a Grantee’s
condition. For purposes of this Plan, “Retirement” means retirement as a director of the Company in accordance with the provisions of the Company’s bylaws as in effect from time to time. 
  
 (f) Method of Exercise. All options granted under the Plan shall be
exercised by an irrevocable written notice directed to the Secretary of the Company at the Company’s principal place of business. Such written notice shall be accompanied by payment in full of the exercise price for the shares for which such
option is being exercised. The Company shall make delivery of certificates representing the shares for which an option has been exercised within a reasonable period of time; provided, however, that if any law, regulation or agreement requires the
Company to take any action with respect to the shares for which an option has been exercised before the issuance thereof, then the date of delivery of such shares shall be extended for the period necessary to take such action. Certificates
representing shares for which options are exercised under the Plan may bear such restrictive legends as may be necessary or desirable in order to comply with applicable federal and state securities laws. Nothing contained in the Plan shall be
construed to require the Company to register any shares of Common Stock underlying options granted under this Plan. 
  
 (g) Effect of Termination of Directorship. Upon termination of a Grantee’s membership on the Board of Directors of the Company for any reason
(including without limitation by reason of death, Disability, Retirement or failure to be re-nominated or re-elected as a director), the options held by the Grantee under the Plan, to the extent they were exercisable on the date of termination
(including any acceleration by reason of such termination) shall remain exercisable until the earlier of (i) the original expiration date of the Option, or (ii) the fifth anniversary of the Grantee’s termination as a director. In the event of
the death of a Grantee, the Grantee’s personal representatives, heirs or legatees (the “Grantee’s Successors”) may exercise the options held by the Grantee on the date of death, upon proof satisfactory to the Company of their
authority. Such exercise otherwise shall be subject to the terms and conditions of the Plan. 
  
 (h) Transferability of Options. Any option granted pursuant to the Plan shall be assignable or transferable by the Grantee by will, by the laws of descent and distribution, or pursuant to a domestic relations
order that would satisfy Section 414(p)(1)(A) of the Internal Revenue Code of 1986, as amended, if such provision applied to an option under the Plan. In addition, any option granted pursuant to the Plan shall be transferable by the Grantee to any
of the following permitted transferees, upon such reasonable terms and conditions as the Board of Directors may establish: (i) any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew,
mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships, any person sharing the Grantee’s household (other than a tenant or employee), 

 (ii) a trust in which the foregoing persons (or the Grantee) have more than fifty percent of the beneficial interests,
(iii) a foundation in which these persons (or the Grantee) control the management of assets, or (iv) any other entity in which these persons (or the Grantee) own more than fifty percent of the voting interests. 
  
 (i) Rights as Shareholder. Neither the Grantee nor the Grantee’s
Successors or transferees shall have rights as a shareholder of the Company with respect to shares of Common Stock covered by the Grantee’s option until the Grantee or such successors or transferees become the holder of record of such shares.

  
 (j) No Options after Ten Years. No options shall be
granted except within a period of ten (10) years after the effective date of the Plan. 
  
 6. Adjustments. In the event a stock dividend is declared upon the Common Stock, the authorization limits under Section 4 shall be increased proportionately, and the shares of Common Stock then subject to each
option shall be increased proportionately without any change in the aggregate purchase price therefor. In the event the Common Stock shall be changed into or exchanged for a different number or class of shares of stock or securities of the Company
or of another corporation, whether through reorganization, recapitalization, reclassification, share exchange, stock split-up, combination of shares, merger or consolidation, or otherwise, the authorization limits under Section 4 shall be adjusted
proportionately, and there shall be substituted for each such share of Common Stock then subject to each option the number and class of shares into which each outstanding share of Common Stock shall be so exchanged, all without any change in the
aggregate purchase price for the shares then subject to each option, or there shall be made such other equitable adjustment as the Board of Directors shall approve. 
  
 7. Effective Date and Termination of Plan. 
  
 (a) Effective Date. The Plan was approved on September 14, 2000 by the Board of Directors of the Company and by
National Data Corporation, acting in its capacity as the sole shareholder of the Company. The Plan shall become effective upon the first trading day after the effective date of the distribution by National Data Corporation to its stockholders of all
of the issued and outstanding shares of capital stock of the Company, as contemplated in that certain Distribution Agreement between National Data Corporation and the Company and the related agreements between the parties referred to therein.

  
 (b) Termination. The Plan shall terminate on the second
day following the 2010 Annual Meeting, but the Board of Directors may terminate the Plan at any time prior to such date. No termination of the Plan shall adversely affect the rights of the Grantees who have outstanding Options without the consent of
such Grantees. 
  
 8. No Obligation to Exercise Option. The
granting of an option shall impose no obligation upon the Grantee to exercise such option. 

 9. Amendment. The Board of Directors may, at any time and from time to time, amend, modify or
terminate the Plan without shareholder approval; provided, however, that the Board of Directors may condition any amendment or modification on the approval of shareholders of the Company if such approval is necessary or deemed advisable with respect
to tax, securities or other applicable laws, policies or regulations. Any amendment to the Plan shall not, without the written consent of the Grantee, affect such Grantee’s rights under any option theretofore granted to such Grantee.

  
 The foregoing is hereby acknowledged as being the Global
Payments Inc. 2000 Non-Employee Director Stock Option Plan as adopted by the Board of Directors of the Company on September 14, 2000, and by the sole shareholder of the Company on September 14, 2000, amended and restated by the Board of Directors
and sole shareholder on January 5, 2001, and amended and restated by the Board of Directors on October 23, 2003. 
  

			
	GLOBAL PAYMENTS INC.
		
	By:	 	 /s/ Suellyn P. Tornay

	 	 	Suellyn P. Tornay
	Its:	 	General CounselLicense Agreement

 EXHIBIT 10.1 
  
 CONFIDENTIAL PORTIONS HAVE BEEN OMITTED BASED UPON A REQUEST 
 FOR CONFIDENTIAL TREATMENT PURSUANT TO RULE 24b-2 OF THE 
 SECURITIES EXCHANGE
ACT OF 1934 AND HAVE BEEN SEPARATELY FILED 
 WITH THE SECURITIES AND EXCHANGE COMMISSION. 
  
 LICENSE AGREEMENT 
  
 This LICENSE AGREEMENT (hereinafter called this “License Agreement”) is made and
effective as of the 17th day of November, 2004 by and between: 
  
 SENJU
Pharmaceutical Co., Ltd., a legal entity duly organized and existing under the laws of Japan, having its principal office of business at 5-8, Hiranomachi 2-chome, Chuo-ku, Osaka 541-0046, Japan (hereinafter called “SENJU”) and; 

 
 ISTA Pharmaceuticals, Inc., a legal entity duly organized and existing under the laws of
Delaware, having its principal office of business at 15279 Alton Parkway, Suite 100, Irvine, CA 92618, U.S.A. (hereinafter called “ISTA”); 
  
 WITNESSETH THAT; 
  
 WHEREAS, SENJU is an exclusive licensee, in certain countries or areas of the world including U.S.A., of certain rights to the human ophthalmic pharmaceutical specialty ecabet sodium in topical preparations for
topical ophthalmic applications by way of an agreement (Kaigaimuke Raisennsu Keiyaku) entered into as of March 6, 2002 (revised as of August 26, 2004) by and between SENJU on one hand; and
[                                        
                                    *    
                                        
                                    ]
[                                        
                                        
                    *                    
                                        
                        ] 
 the other
hand (hereinafter referred to as “SENJU-[    *    ] License Agreement”); and 
  
 WHEREAS, SENJU has a sub-license right under the SENJU-[    *    ] License Agreement and desires to grant ISTA a license to
develop, manufacture and sell topical ophthalmic formulations of ecabet sodium in ISTA Territory as hereinafter defined, according to the terms and conditions set forth herein and ISTA wishes to receive such license. 
  
 NOW THEREFORE, in consideration of the foregoing, the mutual covenants contained herein and
for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, SENJU and ISTA (SENJU and ISTA collectively called “Parties” and/or individually called “Party”) hereby agree as follows:

  
 Article 1. - Definitions 
  
 The following terms used in this License Agreement shall have the meanings set forth in this
Article 1 unless the context clearly requires otherwise, and the singular shall include the plural and vice versa. 
  
 1.01 “Compound” shall mean a certain chemical compound having its chemical structure of [    *    ]
[                                        
                                        
    *                                    
                                    ] 
 [                                       
         *                               
                     ], which is commonly named ecabet sodium. 
  

 1 

 1.02 “Development Activity” shall mean ISTA’s activities to perform all tests, studies, and other
activities necessary to develop the Preparation and obtain and maintain Government Approval of the Preparation in ISTA Territory. 
  
 1.03 “Effective Date” shall mean the date first above written on which this License Agreement shall become effective. 
  
 1.04 “First Commercialization” shall mean the date of the first commercial sale by
ISTA or ISTA Marketing Agent of the Preparation in commercial quantities to a Third Party in ISTA Territory under this License Agreement. 
  
 1.05 “Governmental Approval” shall mean any kind of approvals by USFDA (U. S. Food and Drug Administration) or equivalent future governmental authority,
necessary to commercialize the Preparation in ISTA Territory, including, without limitation, any approvals necessary for the manufacture, distribution, and sale of the Preparation in ISTA Territory. 
  
 1.06 “ISTA Developer” shall mean any developer appointed by ISTA who develops the
Preparation in ISTA Territory on behalf of ISTA. 
  
 1.07 “ISTA
Manufacturer” shall mean any manufacturer appointed by ISTA who manufactures the Preparation in ISTA Territory on behalf of ISTA. 
  
 1.08 “ISTA Marketing Agent” shall mean any agent or other party appointed by ISTA who sells, markets, distributes, promotes and offers to sell the Preparation
in ISTA Territory on behalf of ISTA. 
  
 1.09 “ISTA Trademark” shall
mean trademark to be used by ISTA in connection with the marketing of the Preparation in ISTA Territory other than [    *    ] Trademark. 
  
 1.10 “ISTA Technical Information & Know-How” shall mean any Technical Information & Know-How owned or controlled by ISTA.

  
 1.11 “ISTA Territory” shall mean United States of America as well as
Puerto Rico, Guam, the U.S. Virgin Islands and any other U.S. territories and possessions. 
  
 1.12 “Net Sales” shall mean the gross invoiced amount charged by ISTA or ISTA Marketing Agent to sell the Preparation to Third Parties in ISTA Territory less (a) all normal and customary deductions of any
type or nature (such as, e.g., returns, credits, refunds, discounts, allowances, rebates, chargebacks and adjustments); and (b) freight, shipping, insurance costs, customs, duties, taxes and other governmental charges and surcharges imposed upon the
sale or distribution of the Preparation. Net Sales shall be determined in accordance with generally accepted accounting principles in ISTA Territory, applied on a basis consistent with ISTA’s annual audited financial statements, with interim
Net Sales calculations in any year subject to adjustment pending completion of ISTA’s annual audit for that year. 
  
 1.13 “Patent Rights” shall mean U.S. Patent No. 5,830,913, reissues, re-examinations, and any patent term extensions thereto. 
  
 1.14 “Preparation” shall mean any pharmaceutical product for human use containing
the Compound as an active ingredient in topical ophthalmic form (i) having a stimulating action of mucin secretion or (ii) for the treatment of (A) cornea or conjunctival diseases or disorders or (B) dry eye syndrome or any other ophthalmic diseases
or disorders caused from dry eye syndrome. 
  

 2 

 1.15 “Secrecy Agreement” shall mean the secrecy agreement dated November 19, 2003 between SENJU and ISTA on the
Preparation and letter agreement dated February 18, 2004 from SENJU to ISTA. 
  
 1.16 “SENJU Licensee” shall mean a third party who will be granted by SENJU to develop, manufacture, use, market and sell the Preparation outside ISTA Territory. 
  
 1.17 “SENJU Technical Information & Know-How” shall mean any Technical Information & Know-How owned or controlled by
SENJU, or by SENJU and [    *    ] jointly and licensed to SENJU under SENJU-[    *    ] License Agreement. SENJU Technical Information & Know-How shall include any
and all technical information and know-how disclosed by SENJU to ISTA under Secrecy Agreement. 
  
 1.18 “Senju Territory” shall mean the any and all countries or areas throughout the world, which are not included in ISTA Territory and [    *    ] Territory.

  
 1.19 “Semi-Annual Period” shall mean each of the six (6) months
period commencing April 1st and October 1st and ending respectively on the following September 30th and March 31st. And, “Financial Year” shall be the twelve months period from April 1st to March 31st. 
  
 1.20 “Subsidiary” shall mean any legal entity which, whether de jure or de facto,
directly or indirectly owns, is owned by or is under common ownership with SENJU, ISTA or -[    *    ], respectively, to the extent of at least more than fifty percent (50%) of the equity (or such lesser
percentage which is the maximum allowed to be owned by a foreign corporation in a particular jurisdiction) having the power to vote on or direct the affairs of the entity and any person, firm, partnership, corporation, or other entity actually
controlled by, controlling or under common control with SENJU, ISTA or [    *    ], respectively. 
  
 1.21 “[    *    ] Licensee” shall mean third party who is granted the right now or hereafter will be granted by
[    *    ] the right to develop, manufacture, use, market and sell the Preparation outside the SENJU and ISTA Territories. 
  
 1.22 “[    *    ] Territory” shall mean
[                                        *
                                        
                    ] 
 [                                       
                                     *   
                                        
                                        
     ] 
 [                                       
                                        
     *                                   
                                         ]

 [                                       
                                        
         *                               
                                        
     ] 
 [                                       
                                        
     *                                   
                                         ]

  
 1.23 “[    *    ] Trademark”
shall mean trademark to be registered by [    *    ] in ISTA Territory corresponding to the trademark registered in Japan that [    *    ] now or hereafter owns,
controls and offers ISTA to use for the Preparation and ISTA selects and desires to use for the commercialization of the Preparation in ISTA Territory. 
  
 1.24 “Technical Information & Know-How” shall mean any and all technical information and know-how which relates to the Preparation or the Compound, which is
necessary or useful for the practice of the Patent Rights, including without limitation, the development of the Preparation, obtaining Government Approval and manufacture and sale of the Preparation in ISTA Territory. 
  

 3 

 1.25 “Third Party” shall mean any party other than SENJU, SENJU-Licensee, SENJU Subsidiary, ISTA, ISTA
Manufacturer, ISTA Developer, ISTA Marketing Agent,
[                    *                    ]
[                    *                    ].

  
 Article 2. - Grant 
  
 2.01 SENJU hereby shall grant by way of sub-license and license to ISTA, and ISTA shall
hereby accept, a sole and exclusive, running royalty-bearing license under the Patent Rights and the SENJU Technical Information & Know-How to make, have made, offer to provide and provide, develop, manufacture, use, market, sell and offer to
sell the Preparation in ISTA Territory. Except as provided in Paragraph 2.02 below, the license granted to ISTA herein shall not include the right to grant further licenses to any Third Party or to any SENJU Licensee, SENJU Subsidiary, ISTA
Developer, ISTA Manufacturer, ISTA Marketing Agent,
[                            *            
                ] [    *    ]. SENJU hereby represents that it has the full right and authority to enter into this License
Agreement, to grant the licenses provided herein and to perform its obligations hereunder. In addition, SENJU shall be responsible for the complete performance of all obligations of SENJU Licensee, SENJU Subsidiary,
[                *                        
    ] described hereunder. 
  
 2.02 ISTA’s license granted
under Paragraph 2.01 of this License Agreement shall include the right to appoint ISTA Developers and ISTA Manufacturers to practice or use the Patent Rights and the SENJU Technical Information & Know-How to develop and manufacture,
respectively, the Preparation on behalf of ISTA and ISTA Marketing Agents to sell, market, distribute, promote and offer to sell the Preparation on behalf of ISTA in ISTA Territory. ISTA hereby acknowledges and confirms that by appointing ISTA
Developer, ISTA Manufacturer and ISTA Marketing Agent to develop, manufacture, market, sell and offer to sell the Preparation hereunder it shall not be released from any of its contractual obligations under this License Agreement and that it shall
remain fully responsible for the complete performance of such obligations under this License Agreement. Promptly after the Effective Date and from time to time if ISTA renews, ISTA shall provide SENJU with a list of each existing and currently
proposed ISTA Developer, ISTA Manufacturer and ISTA Marketing Agent, for SENJU’s approval. Any such list submitted by ISTA shall be deemed approved by SENJU [    *    ] after its submission, unless ISTA
receives from SENJU written objections to such list within such [    *    ] period, in which case, the list will not be approved by SENJU only to the extent of such objections. 
  
 2.03 SENJU agrees that during the term of this License Agreement, SENJU, SENJU Licensee,
SENJU Subsidiary,
[                                        *
                                    ] shall not, directly or
indirectly (a) develop the Preparation for use or sale in ISTA Territory or manufacture, use, offer to sell, market, distribute, or sell the Preparation for commercial purpose in ISTA Territory or (b) grant any license to the Patent Rights or the
Technical Information and Know-How in ISTA Territory that would entitle any Third Party to develop, manufacture, use, offer to sell, market, distribute or sell during the term of this License Agreement, any product utilizing the Patent Rights or
SENJU Technical Information and Know-How in ISTA Territory. Provided, however, that SENJU shall retain the right to develop, have developed, make, have made the Preparation in ISTA Territory for the sole purpose of commercialization of the
Preparation outside ISTA Territory. 
  

 4 

 2.04 Prior to the first administration of the Preparation in ISTA Territory to a human in accordance with this License
Agreement, and for a period during the commercialization of the Preparation by ISTA, ISTA shall obtain and/or maintain, at its sole cost and responsibility, product liability insurance in an amount known in the pharmaceutical industry to be
reasonably sufficient to meaningfully protect SENJU and [    *    ] consistent with ISTA’s indemnification obligations hereunder. Such product liability insurance shall insure against all liability for
personal injury, physical injury and property damage, subject to the scope and limits customarily required of such insurance. ISTA shall, upon SENJU’s request, submit the evidence of the existence and sufficiency of any and all such product
liability insurance to SENJU. 
  
 Article 3. Technical Information & Know-How

  
 3.01 Immediately after Effective Date, SENJU agrees to provide ISTA with a
listing of all documentation of SENJU Technical Information & Know-How and SENJU Technical Information & Know-How already translated into English language, and with copies of any and all patents and patent applications, now owned or
controlled by SENJU as of the Effective Date covering the Patent Rights or SENJU Technical Information & Know-How, including all patent office actions received and amendments filed, if any, relative thereto. During the term of this License
Agreement, SENJU agrees to continue to provide ISTA with any additional SENJU Technical Information & Know-How and patents and patent applications as described above, hereafter owned or controlled by SENJU after the Effective Date, promptly
after SENJU’s receipt thereof. The list of SENJU Technical Information & Know-How shall be renewed by SENJU and provided to ISTA whenever SENJU Technical Information & Know-How, which did not appear on a former list, is available to
SENJU and hereafter owned or controlled by SENJU. From time to time during the term of this License Agreement and if ISTA desires access to SENJU Technical Information & Know-How written in Japanese language which is appearing on the list, SENJU
agrees to translate such SENJU Technical Information & Know-How into English language under its sole expense and responsibility and provide ISTA with it at the timing discussed and agreed between SENJU and ISTA. SENJU Technical Information &
Know-How translated into English language shall be certified as being an accurate translation of the original document, if requested by ISTA. SENJU Technical Information & Know-How provided by SENJU to ISTA shall include information in
possession of or under the control of SENJU, which is necessary or useful for the practice of the Patent Rights and for the Development Activities and obtaining the Governmental Approval. 
  
 3.02 From time to time during the term of this License Agreement, and subject to the terms hereof (including without limitation Article 15),
the Parties shall exchange Technical Information & Know-How which has not been provided to the other Party concerning any new finding relevant to the safety, efficacy, dosage formulation and new indications of the Preparation when they become
available to either Party (including any process improvements which relate solely to the Preparation) (hereinafter called “Improvements”). SENJU shall provide [    *    ] with the Improvements
provided by ISTA. 
  
 3.03 SENJU may freely, use or have SENJU Licensee, SENJU
Subsidiary, [            *            ]
[            *                            
    ] use, without compensation to ISTA, Improvements made by ISTA under Paragraph 3.02 for any purpose in any countries outside ISTA Territory. Provided, however, that if the Improvement is a patentable new invention or
discovery, such Improvement shall be subject to Article 15. ISTA may freely use or have ISTA Developer, ISTA Manufacturer and ISTA Marketing Agent use, without compensation to SENJU, all Improvements made by SENJU under Paragraph 3.02 for the
Preparation in ISTA Territory. Provided, however, that if the Improvement is patentable new invention or discovery, such Improvement shall be subject to Article 15. 
  

 5 

 3.04 SENJU shall supply,
[        *        ] ISTA with a reasonable quantity of the Compound necessary for the Development Activities and obtaining Governmental Approval by ISTA. The quantity to
be supplied by SENJU to ISTA under this Paragraph 3.04 shall be discussed and decided by SENJU and ISTA. 
  
 3.05 SENJU agrees and acknowledges that [    *    ] or [    *    ]’s contract manufacturer of the Compound shall have USFDA make
reference to the “Drug Master File” filed by [    *    ] or the contract manufacturer for the sole purpose of obtaining Governmental Approval by ISTA in ISTA Territory, provided, however that ISTA
shall not receive a copy of said Drug Master File, except as provided in Paragraph 3.01. SENJU shall have [    *    ] not withdraw “Drug Master File” without prior written approval of SENJU.

  
 3.06 Notwithstanding any other provision of this License Agreement, including
but not limited to Articles 3, 4, 10, 12 and 15, ISTA shall disclose, provide and/or grant rights in any Improvement, Technical Information & Know How, Information, invention, intellectual property right, confidential information, or other right
or information to SENJU for its benefit or the benefit of [        *             ]
[                    *                    
            ] as obligated under this License Agreement, only to the extent ISTA has the absolute right to do so without liability or cost to ISTA. ISTA shall use commercially reasonable
efforts to secure such rights from each ISTA Developer, ISTA Manufacturer and ISTA Marketing Agent but ISTA makes no guarantee that it will be able to secure such rights. Any inability of ISTA to secure such rights shall not be deemed a breach by
ISTA of this License Agreement or a basis for termination by SENJU of this License Agreement. 
  
 Article 4. - Development Activities and Governmental Approvals 
  
 4.01 Soon after the Effective Date, ISTA shall provide SENJU with a development plan and schedule of the Preparation in ISTA Territory (“Development Plan and Schedule”) for SENJU’s review and comment.
SENJU shall provide [    *    ] with the Development Plan and Schedule. SENJU shall provide ISTA with SENJU’s comments and advice. ISTA shall take SENJU’s comments and advice into consideration, for
the Development Activities. In the event that ISTA renews or updates the Development Plan and Schedule, above procedure shall be applied. 
  
 4.02 ISTA shall conduct promptly, at its own expenses and responsibility, the Development Activities in accordance with Development Plan and Schedule, and shall secure
and maintain Governmental Approval as may be necessary with respect to the sale of the Preparation. Governmental Approval shall be in ISTA’s name and owned by ISTA, under its own expenses and responsibility. Provided, however, that nothing
herein shall constitute a guarantee or warranty of ISTA that it will obtain any Governmental Approval or that it will have any degree of success in the development or commercialization of the Preparation in ISTA Territory. 
  
 4.03 Notwithstanding anything else to the contrary stated herein, in the event that
Development Activities are delayed from the Development Schedule due to ISTA’s complete omission and gross negligence, SENJU shall have a right to notify ISTA thereof and if ISTA fails to remedy the situation in all material respects within
[        *        ] after receiving SENJU’s notice then SENJU shall have a right, upon notice to ISTA, to terminate this License Agreement without any remaining
obligations between SENJU and ISTA. Notwithstanding anything herein to the contrary except for 
  

 6 

 the case of Paragraph 17.03 (i), SENJU’s right to terminate this License Agreement as provided above shall be its
sole and exclusive remedy, whether in contract, by statute or otherwise, for any delay or lack of efforts in the Development Schedule or any failure of ISTA with respect to any of the Development Activities. 
  
 4.04 From time to time during the term of this License Agreement and upon the request of
SENJU, ISTA shall provide SENJU with the written report concerning the progress of Development Activities and procedure of obtaining the Governmental Approval. Further ISTA shall promptly notify SENJU upon obtaining the Governmental Approval. SENJU
shall provide [    *    ] with these reports provided by ISTA under this Paragraph 4.04. 
  
 4.05 Upon the request of SENJU, ISTA shall provide SENJU with any and all copies of New Drug Application Dossier submitted to U. S. Food and Drug Administration for
obtaining the Governmental Approval and copy of certificate of Governmental Approval. ISTA agrees and acknowledges that SENJU, SENJU Licensee, SENJU Subsidiary,
[                *                ]
[            *            ] shall have the right to use such copies of New Drug Application Dossier and copy of certificate of
Governmental Approval for the sole purpose of development, manufacture, obtaining the governmental approval and sale of the Preparation outside ISTA Territory, without any compensation to ISTA. 
  
 Article 5. - Marketing 
  
 5.01 Within [        *        ] from when the Governmental
Approval has been obtained, ISTA shall use commercially reasonable efforts to launch the Preparation in ISTA Territory as soon as possible and thereafter, use its commercially reasonable efforts to promote and sell the Preparation in ISTA Territory.

  
 5.02 ISTA shall furnish SENJU with a copy of the package inserts of the
Preparation prepared for use in ISTA Territory, and thereafter, any revised version thereof. 
  
 5.03 ISTA shall prepare, at its own costs and expenses, appropriate marketing, advertising and promotional material for the Preparation in ISTA Territory. ISTA shall furnish SENJU with those materials for SENJU’s
review. 
  
 5.04 Alliance indication to the bottle, outer package, brochure,
insert leaflet, advertising and/or promotional materials shall be discussed and decided between SENJU and ISTA; provided that, ISTA may use any alliance indication required by law. 
  
 5.05 Starting at least
[                *                ] the occurrence of First Commercialization, ISTA shall
submit to SENJU a sales forecast of the Preparation made around the time of the First Commercialization covering the next [    *    ] Financial Years after the
[        *        ] of the First Commercialization, addressing each subsequent Financial Year separately, including a forecast of a sales peak of the Preparation and its
timing, for SENJU review and approval. Any sales forecast submitted by ISTA shall be deemed approved by SENJU [        *        ] after its submission, unless ISTA
receives from SENJU written objections to such forecast within such [        *        ] period. If SENJU disagrees with ISTA’s sales forecast within the
aforementioned [        *        ] period, SENJU and ISTA shall have an independent market research agent, which is acceptable to SENJU and ISTA, calculate the sales
forecast for such [    *    ] Financial Years after the [    *    ] [    *    ] of the First Commercialization. ISTA and SENJU
shall bear equally the cost of such market 
  

 7 

 research agent. SENJU and ISTA agree and acknowledge that the sales forecast submitted by ISTA or, if SENJU objects to
ISTA’s sales forecast, the sales forecast calculated by such independent market research agent, will be subject to minimum annual sales forecast for calculation of minimum royalties under Paragraph 8.03. 
  
 5.06 Should ISTA’s actual sales amount of the Preparation be far below the then existing
sales forecast adopted by the Parties due to the occurrence of an unexpected event, a material change in the market or the Preparation’s prospects, SENJU and ISTA will meet to discuss the modification of such sales forecast. In the event that
ISTA and SENJU fail to reach an agreement for the modification of such sales forecast within [        *        ] from the commencement of the discussion between SENJU
and ISTA, ISTA and SENJU will refer the matter to an independent market research agent, which is acceptable to SENJU and ISTA, to recalculate the sales forecast, on a timely basis, taking into consideration, among other things, the unexpected event,
material change in the market, the Preparation’s prospects and other relevant factors. ISTA and SENJU shall bear equally the cost of such market research agent. SENJU and ISTA agree and acknowledge that the revised sales forecast agreed to by
ISTA and SENJU or, if the Parties fail to agree, the revised sales forecast calculated by such independent market research agent, will supercede any prior sale forecast and will be the basis for calculation of minimum royalties under Paragraph 8.03
(until another sales forecast is adopted by the Parties pursuant to this Paragraph 5.06). Pending the Parties agreement to a revised sales forecast or, if the Parties fail to agree, the submission by the independent market research agent of its
revised sales forecast, ISTA will continue to pay minimum royalties under Paragraph 8.03 calculated based on the last sales forecast adopted by the Parties. 
  
 Article 6. - Trademark 
  
 6.01 If and when SENJU and ISTA discuss the trademark to be used in connection with the marketing of the Preparation by ISTA, SENJU shall submit to ISTA, a list of [    *    ]
Trademarks for ISTA’s selection. ISTA shall have the right, at its option but not obligation, to use the [    *    ] Trademark subject to the royalty obligation in accordance with Paragraph 8.01(ii) (b).
If ISTA decides to use [    *    ] Trademark, SENJU shall have [    *    ], at [    *    ]’s cost and risk, file to obtain
the registration of the [    *    ] Trademark in ISTA Territory, and thereafter shall have [    *    ] maintain the [    *    ]
Trademark in ISTA Territory. ISTA agrees that in using [    *    ]’s Trademark upon the Preparation, it will not represent in any way that it has any right or title to the ownership of
[    *    ] Trademark or the registration thereof, and the registration will remain in the ownership of [    *    ]. 
  
 6.02 Notwithstanding Paragraph 6.01, ISTA shall have the right, to select the ISTA Trademark
to be used in connection with the marketing of the Preparation by ISTA in ISTA Territory subject to obtaining prior written approval of SENJU, such approval not to be unreasonably withheld. In this case, ISTA shall, at its sole cost and risk, and at
its option (after discussion with SENJU), file to obtain the registration of the ISTA Trademark in ISTA Territory, and thereafter maintain the ISTA Trademark in ISTA Territory. Any ISTA Trademark submitted by ISTA to SENJU for use in ISTA Territory
shall be deemed approved by SENJU [                *                ] after its
submission, unless ISTA receives from SENJU written objection to such ISTA Trademark within such [        *        ] period. 
  
 6.03 In the event that SENJU, SENJU Licensee, SENJU Subsidiary,
[            *            ]
[                            *            
                ] desire to use ISTA Trademark in certain countries or areas outside ISTA Territory, ISTA shall discuss with SENJU and/or
[    *    ] for their use of the language corresponding to ISTA Trademark in such countries or areas and the form of compensation to ISTA and other license terms for such use. 
  

 8 

 Article 7. - Compensation 
  
 7.01 In consideration of SENJU’s grant of the exclusive license in ISTA Territory in accordance with Article 2 hereof, ISTA shall,
during the term of this License Agreement, pay SENJU the following milestone payments: 
  

					
	 Milestone:

	  	 Amount of Payment due:

	(i)	  	The Effective Date of this Agreement	  	U.S. $[        *        ]
			
	(ii)	  	ISTA’s commencement of a Phase III clinical trials for the Preparation, commencement being first patient dosing	  	U.S. $[        *        ]
			
	(iii)	  	The acceptance for filing by the FDA of ISTA’s New Drug Application (“NDA”) for the Preparation	  	U.S. $[        *        ]

  
 7.02 Unless otherwise provided herein,
no milestone payments to SENJU under this License Agreement shall be refundable in whole or in part. Each of the foregoing milestone payments shall be payable one time only, even if the milestone is met on more than one occasion. Each milestone
payment shall be due and payable by ISTA within [        *        ] of completion of the applicable milestone. 
  
 Article 8. - Royalties 
  
 8.01 In consideration of the rights granted under this License Agreement, and subject to the
terms hereof, ISTA shall pay SENJU as running royalties during the term of the License Agreement the royalties set forth in Paragraphs 8.01(i) and (ii) below; provided that, the price of the Compound purchase by ISTA under Article 11 shall be
credited against such royalties: 
  
 (i) For ten (10) years from
First Commercialization or until the date of the last valid claim to expire under U.S. Patent No. 5,830,913, whichever is longer (hereinafter “Initial Period of Term”), ISTA shall pay SENJU running royalties of
[         *         ] of the Net Sales of the Preparation in ISTA Territory. Notwithstanding the foregoing, if the Net Sales in any Financial Year
[    *     ] more than [         *         ] compared to the preceding Financial Year due to the commercialization of a generic
product of the Preparation in ISTA Territory (hereinafter called “[             *             ]”), then the running
royalty rate during the Initial Period of Term shall be immediately [        *        ] to
[        *        ], provided, however, that if Net Sales in any year during Initial Period of Term [     *     ] from
[             *             ] by [         *
        ], running royalty rate during remaining term for Initial Period of Term shall be re-applied to [        *        ]
[        *        ], subject to additional adjustments from time to time as provided above. 
  

 9 

 (ii) In addition, beginning the day following Initial Period of Term (i.e., the day after ten (10) years
after First Commercialization or the date of the last valid claim to expire under U.S. Patent No. 5,830,913, whichever is longer), ISTA shall pay SENJU running royalties of: 
  
 (a) [         *         ] of Net Sales of
the Preparation in ISTA Territory for [     *     ] [     *     ] and, thereafter for an additional
[             *             ] of Net Sales of the Preparation in ISTA Territory, provided that ISTA uses a ISTA Trademark for the
marketing of the Preparation in ISTA Territory, 
  
 or;

  
 (b) [        
*        ] of Net Sales of the Preparation in ISTA Territory for [     *     ] [     *     ] and, thereafter,
[         *         ] of Net Sales of the Preparation in ISTA Territory for so long as ISTA uses the [     *     ] Trademarks for
the marketing of the Preparation in ISTA Territory. 
  
 8.02 No multiple running
royalty will be payable even if the Preparation, its manufacture, use or sale, are or will be covered by more than one claim or patent. 
  
 8.03 For [     *     ], starting in the Financial Year following [        
*         ] of First Commercialization in ISTA Territory, during the term of this Agreement and subject to timely and adequate supply of Compound, ISTA shall pay minimum annual royalties based on royalties due
on [     *     ] of each sales forecast under Paragraph 5.05. Minimum annual royalties shall be paid with the first Semi-Annual Period royalty for each applicable Financial Year should running royalties for a
Financial Year not exceed the applicable minimum royalty obligation. 
  
 8.04 All
of the running royalties shall be paid to SENJU within [         *         ] following the end of each Semi-Annual Period according to Financial Year. Namely, ISTA shall
pay to SENJU the royalty arising from the period of April 1 through September 30 by October 30 of the same year and shall pay the royalty arising from the period of October 1 through March 31 of the next year by April 30 of the next year.

  
 8.05 Unless otherwise expressly provided herein, no running royalty payment to
SENJU under this License Agreement shall be refundable in whole or in part except for the case of overpayment. 
  
 Article 9. - Payments and Records 
  
 9.01 Within
[         *         ] after each Semi-Annual Period, ISTA shall furnish SENJU with an accurate report stating the total quantity of the Preparation in units sold by ISTA
and ISTA Marketing Agent during the preceding Semi-Annual Period, the gross invoiced sales price and the Net Sales thereof and amount of the royalties accrued. SENJU shall provide [     *    ] with such
report. 
  
 9.02 ISTA shall make and keep true and accurate records of the
production and sales of the Preparation by ISTA, ISTA Manufacturer and ISTA Marketing Agent. 
  
 9.03 SENJU shall have the right to inspect the records prepared and kept in accordance with Paragraph 9.02 above. This inspection shall be carried out by a certified public accountant designated by SENJU, and
reasonably acceptable to ISTA, on a confidential basis, for the sole purpose of verifying the accuracy of ISTA running royalty payments for all or any portion of a period not exceeding [         *
        ] prior to the date of the last running royalty payment. This inspection 
  

 10 

 shall be carried out during usual business hours at ISTA’s appropriate facility. The fees and expenses of the
accountants performing such inspection shall be borne by SENJU, as the case may be, unless any amount actually due exceed [        *        ] or more of amounts
reported, in which case ISTA shall bear the costs and expenses of such inspection. 
  
 9.04 ISTA shall not have any obligation to keep the records kept pursuant to Paragraph 9.02 for more than [        *        ] from the date of a given running
royalty payment. 
  
 9.05 Any payment from ISTA to SENJU under this License
Agreement shall be remitted to the bank account designated by SENJU. 
  
 Article 10. Exchange of Information/Reports 
  
 10.01 From time to time during the term of this License Agreement, Parties shall exchange clinical and commercial information concerning the Preparation which is deemed useful for the sale and marketing of the Preparation. Furthermore, each
Party shall notify the other of any important regulatory advices or instructions which come to either Party’s attention during the term of this License Agreement concerning quality, safety, efficacy of Compound and/or Preparation. SENJU shall
provide [    *    ] with such information and regulatory advices or instructions. 
  
 10.02 As long as ISTA develops and commercializes the Preparation in ISTA Territory, SENJU and ISTA shall exchange the information concerning any findings associated with
the use of the Preparation that may suggest significant hazards, contraindications, side effect or precautions pertinent to the safety of the Preparation. The detailed procedure to exchange such information shall be set forth in a memorandum
otherwise executed between SENJU and ISTA. 
  
 Article 11. -Availability of the Compound 
  
 11.01 During the term of
this License Agreement after completing the Development Activities and obtaining Governmental Approval of the Preparation, SENJU will supply and ISTA will purchase the Compound from SENJU for commercial manufacture of the Preparation, as set forth
in a separately executed supply agreement between SENJU and ISTA (hereinafter called “Supply Agreement”). 
  
 11.02 The price of the Compound supplied by SENJU to ISTA under the Supply Agreement for manufacture of commercial Preparation will be below
[                    *                    ]
[    *    ] per kilogram. 
  
 11.03 The
price of the Compound supplied by SENJU to ISTA under the Supply Agreement for manufacture of Promotional Sample of the Preparation will be [        *        ] of the
price for manufacture of commercial Preparation set forth in Paragraph 11.02, with the maximum annual volume of
[                    *                    ]
provided for such Promotional Samples of the Preparation. The price of the Compound for manufacture of Promotional Sample of the Preparation exceeding
[                    *                    ] on an
annual basis shall apply to the price of the Compound for manufacture of commercial Preparation set forth in the Supply Agreement subject to Paragraph 11.02. “Promotional Sample of the Preparation” shall mean the Preparation that ISTA or
ISTA Marketing Agent provides the ophthalmologist, optometrist, pharmacist, managed care or wholesalers for promotional purpose of the Preparation, free of charge. 
  

 11 

 11.04 The prices of the Compound set forth in the Supply Agreement subject to Paragraph 11.02 and 11.03 may be changed,
from time to time during the Supply Agreement, to reflect changes in costs of manufacture of the Compound; provided that, the Compound’s price shall not increase by more than [    *    ] in comparison
with the previous Financial Year. 
  
 11.05 ISTA and SENJU shall monitor market
prices from Third Parties of the Compound. If at any time during the term of this License Agreement, the price per kilogram of the Compound supplied by SENJU is
[        *        ] or more greater than the price per kilogram of the Compound available to ISTA from a Third Party, then SENJU shall use its reasonable efforts to
reduce its Compound price to the Third Party price,. 
  
 11.06 ISTA shall be
entitled to a credit on royalties due under Paragraphs 8.01(i) of the cost of the Compound purchased from SENJU by ISTA under the Supply Agreement for manufacture of commercial Preparation during each Semi-Annual Period that ISTA pays a royalty of
[        *        ] [    *    ] and no credit for the Compound shall be given for payment of
[                    *                    ]
hereunder. For confirmation purpose, ISTA shall not be entitled to a credit on royalties due under Paragraph 8.01 (i) of the cost of the Compound purchased from SENJU by ISTA under the Supply Agreement subject to Paragraph 11.03 for manufacture of
Promotional Sample of the Preparation. 
  
 Article 12. –Confidentiality 
  
 12.01 Parties hereto undertake to
keep confidential all of the information and reports, materials, data and results of the investigation and so on regarding the Compound and/or the Preparation which is/are received from or provided by the other Party under this License Agreement
and/or the Secrecy Agreement, and is/are marked or otherwise indicated that the same is/are confidential nature (hereinafter collectively called “Information” in this Article 12), provided, however, that such Information as itemized below
shall be excluded from this confidentiality obligation: 
  
 (i)
Information which was at the time of disclosure in the public domain, 
  
 (ii) Information which after the time of disclosure became a part of the public domain, through no fault or act of omission by the recipient Party, 
  
 (iii) Information which was at the time of disclosure lawfully in the recipient’s possession on a non-disclosure basis, 
  
 (iv) Information received from any Third Party who has no obligation to keep
the Information confidential against any of Parties hereto, 
  
 (v) Information which both Parties hereto agree in writing to disclose to a Third Party or to make the same public, or 
  
 (vi) Information which is independently developed by recipient Party without actual knowledge and use of the Information. 
  
 Provided, further, that the recipient Party shall have competent proof for proving the fact
that the Information in question falls into the category of either one of the items herein above. 
  
 12.02 Notwithstanding the provision of Paragraph 12.01, ISTA may disclose the Information disclosed by SENJU to ISTA Developer, ISTA Manufacturer and ISTA Marketing Agent including 
  

 12 

 ISTA’s or their respective officers, employees, consultants or contract workers, engaging in any activity for the
commercialization of the Preparation including clinical studies and other activities for obtaining the Government Approval in ISTA Territory, so far as the disclosure is necessary for their performance of such activity, provided, however, that ISTA
shall take any adequate measure to cause them to keep the information disclosed confidential under the same conditions provided in any provision of this License Agreement. 
  
 12.03 Notwithstanding the provision of Paragraph 12.01, SENJU may, in addition to the stipulations of Paragraph 4.04 and Paragraph 10.02,
and subject to Article 15, disclose the Information disclosed by ISTA including the Information from ISTA Developer, ISTA Manufacturer and ISTA Marketing Agent, to SENJU Licensee,
[                        *                
        ] [    *    ] including their officers, employees, consultants or contract workers engaging in any activity for the commercialization of the Preparation including
clinical studies and other activities for obtaining the governmental approval outside ISTA Territory or for obtaining patent rights including any patent application and prosecution of the patent application, so far as the disclosure is necessary for
their performance of such activity, provided, however, that SENJU shall take any adequate measure to cause them to keep the Information disclosed confidential under the same conditions provided in this Article 12 of this License Agreement, and,
provided further however, that SENJU shall, at ISTA’s request and SENJU’s agreement thereon, enter into a confidentiality agreement directly with ISTA Developer, ISTA Manufacturer, ISTA Marketing Agent with respect to such party’s
Information and if requested by such party, SENJU shall not disclose or use such party’s Information except as permitted by such party. 
  
 12.04 Notwithstanding anything else to the contrary stated herein, ISTA agrees and acknowledges that SENJU shall have a right to disclose any and all part of this License
Agreement to [    *    ], subject to the confidentiality obligations contained in this Article 12. 
  
 12.05 Notwithstanding this Article 12, a Party (a “disclosing Party”) may disclose the Information of the other Party (the “nondisclosing Party”) in
response to a valid order of a court or any governmental agency or regulatory body or as otherwise required by law or regulation or the requirements of the exchange or listing body on which a disclosing Party’s securities are listed; provided
that, the disclosing Party notifies the non-disclosing Party of such requirement so that the non-disclosing Party may seek a protective order or other appropriate remedy; and provided further that, in the event that no such protective order or other
remedy is obtained, then the disclosing Party will furnish only that portion of the nondisclosing Party’s Information which it is advised by counsel it is legally required to furnish and will exercise all reasonable efforts to obtain assurance
that confidential treatment will be accorded the Information so furnished. 
  
 Article 13. – Publication 
  
 13.01 ISTA
shall not, nor shall it permit ISTA Developer, ISTA Manufacturer and ISTA Marketing Agent to, submit for written or oral publication any manuscript, abstract or the like which includes data or other information relating to the Preparation or the
Compound without first obtaining the prior written approval of SENJU, which shall not be unreasonably withheld. SENJU shall not, nor shall it permit SENJU Licensee or SENJU Subsidiary to, submit for written or oral publication any manuscript or the
like which includes ISTA Technical Information & Know-How without first obtaining the prior written approval of ISTA, which shall not be unreasonably withheld. 
  

 13 

 Article 14. - Indemnification 
  
 14.01 ISTA shall defend, indemnify and hold SENJU and
[    *    ], their directors, officers, shareholders, employees, consultants, contract workers and assigns harmless from and against any lawsuit, claims, loss, damages or expenses (including attorney’s
fees) arising from the Development Activities or the manufacture, use or sale of the Preparation by ISTA, ISTA Developers, ISTA Manufacture or ISTA Marketing Agent in ISTA Territory. 
  
 14.02 SENJU shall defend, indemnify and hold ISTA and its directors, officers, shareholders, employees, consultants, contract workers and
assigns harmless from and against any lawsuit, claims, loss, damages or expenses (including attorney’s fees) arising from any breach by SENJU of this License Agreement or failure by SENJU to perform its obligations hereunder. 
  
 Article 15. - New Invention or Discovery 
  
 15.01 In the event that SENJU (including SENJU Licensee and SENJU Subsidiary) and ISTA
(including ISTA Developer, ISTA Manufacturer and ISTA Marketing Agent) will jointly make, conceive, reduce into practice or generate any invention, discovery or know-how related to the Preparation in the course or as a result of their activities
undertaken pursuant to this License Agreement (hereinafter called “SENJU-ISTA Joint Invention”), SENJU and ISTA agree and acknowledge the following: 
  

(i) SENJU and ISTA shall discuss, and as decided, shall file a patent application claiming SENJU-ISTA Joint Invention and maintain the granted patent
jointly under SENJU’s and ISTA’s name throughout the world, and the costs and expenses for the preparation, filing, prosecution of patent application and maintenance of granted patent shall be shared equally by SENJU and ISTA with SENJU
responsible for clerical procedures of preparation, filing, prosecution of patent application and maintenance of granted patent outside ISTA Territory and ISTA responsible for clerical procedures of preparation, filing, prosecution of patent
application and maintenance of granted patent in ISTA Territory, unless otherwise agreed between SENJU and ISTA; 
  
 (ii) ISTA shall have an exclusive right to use and otherwise practice SENJU-ISTA Joint Invention in ISTA Territory, SENJU shall be compensated for
ISTA’s use of SENJU-ISTA Joint Invention in ISTA Territory as long as ISTA pays the running royalty to SENJU under Paragraph 8.01; 
  
 (iii) SENJU shall have an exclusive right, with the right to sub-license, to use and otherwise practice SENJU-ISTA Joint Invention outside ISTA Territory,
ISTA shall be compensated for SENJU’s use of SENJU-ISTA Joint Invention during the term of this Agreement; 
  
 (iv) [    *    ] shall have perpetual, irrevocable, fully paid up exclusive right, with the right to sub-license,
to use and otherwise practice SENJU-ISTA Joint Invention for any purpose in [    *    ] Territory; 
  
 (v) Each Party shall not transfer, license, dispose or withdraw its share of the patent application and granted patent claiming SENJU-ISTA Joint Invention
under Paragraph 15.01, without prior written approval of the other Party. 
  

 14 

 15.02 In the event that SENJU (including SENJU Licensee and SENJU Subsidiary), ISTA (including ISTA Developer, ISTA
Manufacturer and ISTA Marketing Agent) and [    *    ] (including
[            *            ]) will jointly make, conceive, reduce into practice or generate any invention, discovery or know-how
related to the Preparation in the course or as a result of their activities pursuant to this License Agreement or SENJU-[    *    ] License Agreement, respectively (hereinafter called
“SENJU-ISTA-[    *    ] Joint Invention”), SENJU and ISTA agree and acknowledge following: 
  
 (i) SENJU, ISTA and [    *    ] shall discuss, and as decided, shall file a patent application claiming
SENJU-ISTA-[    *    ] Joint Invention and maintain the granted patent jointly under SENJU’s, ISTA’s and [    *    ] name throughout the world, The costs and
expenses for preparation, filing, prosecution of patent application claiming SENJU-ISTA-[    *    ] Joint Invention and maintenance of granted patent shall be shared by SENJU, ISTA and
[    *    ], equally; 
  
 (ii) Clerical Procedures for preparation, filing, prosecution of patent application claiming SENJU-ISTA-[    *    ] Joint Invention and maintenance of granted patent shall be discussed and decided
among SENJU, ISTA and [    *    ]; 
  
 (iii) ISTA shall have an exclusive right to use and otherwise practice SENJU-ISTA-[    *    ] Joint Invention in ISTA Territory, SENJU and
[    *    ] shall be compensated for ISTA’s use of SENJU-ISTA-[    *    ] Joint Invention in ISTA Territory as long as ISTA pays the running royalty to SENJU under
Paragraph 8.01; 
  
 (iv) SENJU shall have an exclusive right, with
the right to sub-license, to use and otherwise practice SENJU-ISTA-[    *    ] Joint Invention outside ISTA Territory, ISTA shall be compensated for SENJU’s use of
SENJU-ISTA-[    *    ] Joint Invention during the term of this Agreement; 
  
 (v) [    *    ] shall have perpetual, irrevocable, fully paid up exclusive right, with the right to sub-license,
to use and otherwise practice SENJU-ISTA-[    *    ] Joint Invention for any purpose in [    *    ] Territory; 
  
 (vi) Each Party shall not, and SENJU shall have
[    *    ] not, transfer, license, dispose or withdraw its share of the patent application and granted patent claiming SENJU-ISTA-[    *    ] Joint Invention under
Paragraph 15.02 without prior written approval of the other Party. 
  
 15.03 In
the event that SENJU (including SENJU Licensee and Senju Subsidiary) and [    *    ] (including
[            *            ]) will jointly make, conceive, reduce into practice or generate any invention, discovery or know-how
related to the Preparation in the course or as a result of their activities undertaken pursuant to SENJU-[    *    ] License Agreement (hereinafter called
“SENJU-[    *    ] Joint Invention”), SENJU and ISTA agree and acknowledge the following: 
  
 (i) At SENJU’s and [    *    ]’s discretion, SENJU and/or
[    *    ] shall file a patent application claiming SENJU-[    *    ] Joint Invention and maintain the granted patent; 
  
 (ii) ISTA shall have an exclusive right to use and otherwise practice
SENJU-[    *    ] Joint Invention in ISTA Territory, SENJU and [    *    ] shall be compensated for ISTA’s use of
SENJU-[    *    ] Joint Invention in ISTA Territory as long as ISTA pays the running royalty to SENJU under Paragraph 8.01; 
  

 15 

 (iii) SENJU shall not and shall have [    *    ] not transfer,
license, dispose or withdraw its share of the patent application and granted patent claiming SENJU-[    *    ] Joint Invention under Paragraph 15.03 without prior written approval of ISTA in ISTA Territory.

  
 15.04 In the event that SENJU (including SENJU Licensee and SENJU Subsidiary)
will solely make, conceive, reduce into practice or generate any invention, discovery or know-how related to the Preparation in the course or as a result of their activities undertaken pursuant to this License Agreement and
SENJU-[    *    ] License Agreement (hereinafter called “SENJU Sole Invention”), SENJU and ISTA agree and acknowledge the following: 
  
 (i) At SENJU’s and ISTA’s discretion, SENJU shall file a patent application claiming SENJU Sole Invention and
maintain the granted patent under SENJU sole name in ISTA Territory, and the costs and expenses for the preparation, filing, prosecution and maintenance of granted patent shall be paid by SENJU; 
  
 (ii) ISTA shall have an exclusive right to use and otherwise practice SENJU
Sole Invention in ISTA Territory, SENJU shall be compensated for ISTA’s use of SENJU Sole Invention in ISTA Territory as long as ISTA pays the running royalty to SENJU under Paragraph 8.01; 
  
 (iii) SENJU shall not transfer, license, dispose or withdraw the patent
application and granted patent claiming SENJU Sole Invention under Paragraph 15.04 without prior written approval of ISTA in ISTA Territory. 
  
 15.05 In the event that ISTA (including ISTA Developer, ISTA Manufacturer and ISTA Marketing Agent) will solely make, conceive, reduce into practice or generate any
invention, discovery or know-how related to the Preparation in the course or as a result of their activities undertaken pursuant to this License Agreement (hereinafter called “ISTA Sole Invention”), SENJU and ISTA agree as following:

  
 (i) SENJU and ISTA shall discuss, and as decided, shall file
a patent application claiming ISTA Sole Invention and maintain the granted patent under SENJU and ISTA joint name throughout the world, and the costs and expenses for the preparation, filing, prosecution and maintenance of granted patent shall be
paid by SENJU and ISTA equally, with SENJU responsible for clerical procedures of preparation, filing, prosecution of patent application and maintenance of granted patent outside ISTA Territory and ISTA responsible for clerical procedures of
preparation, filing, prosecution of patent application and maintenance of granted patent in ISTA Territory; 
  
 (ii) ISTA shall have exclusive right to use and otherwise practice ISTA Sole Invention in ISTA Territory, SENJU shall be compensated for ISTA’s use
of ISTA Sole Invention in ISTA Territory as long as ISTA pays the running royalty to SENJU under Paragraph 8.01; 
  
 (iii) SENJU shall have an exclusive right, with the right to sub-license, to use and otherwise practice ISTA Sole Invention outside ISTA Territory, ISTA
shall be compensated for SENJU’s use of ISTA Sole Invention during the term of this Agreement; 
  

 16 

 (iv) [    *    ] shall have perpetual, irrevocable, fully paid up
exclusive right, with the right to sub-license, to use and otherwise practice ISTA Sole Invention for any purpose in [    *    ] Territory; 
  
 (v) Each Party shall not transfer, license, dispose or withdraw the patent application and granted patent claiming ISTA Sole
Invention under Paragraph 15.05 without prior written approval of the other Party in SENJU Territory and [    *     ] Territory. 
  
 15.06 In the event that [    *    ] (including
[            *            ]) will solely or [    *    ] and
[            *            ] will jointly, make, conceive, reduce into practice or generate any invention, discovery or know-how
related to the Preparation in the course or as a result of their activities (hereinafter called “[    *    ] Sole Invention”), SENJU and ISTA agree and acknowledge the following: 
  
 (i) Clerical procedures for preparation, filing, prosecution of patent
application claiming [    *    ] Sole Invention and maintenance of granted patent shall be discussed and decided, by [    *    ] solely or between
[    *    ] and [            *            ] jointly, as the case may be; 
  
 (ii) ISTA shall have an exclusive right to use and otherwise practice
[    *    ] Sole Invention in ISTA Territory, SENJU and [    *    ] shall be compensated for ISTA’s use of [    *    ] Sole
Invention in ISTA Territory as long as ISTA pays the running royalty to SENJU under Paragraph 8.01; 
  
 (iii) Each SENJU and [    *    ] shall have an exclusive right, with the right to sub-license, to use and
otherwise practice [    *    ] Sole Invention in each Territory outside of ISTA Territory in accordance with SENJU-[    *    ] License Agreement. 
  
 15.07 In the event that [    *    ] Licensee will
solely or [    *    ] and [            *            ] will jointly, make, conceive,
reduce into practice or generate any invention, discovery or know-how related to the Preparation in the course or as a result of their activities (hereinafter called “[    *    ] Licensee
Invention”), SENJU and ISTA agree and acknowledge the following: 
  
 (i) Clerical procedures for preparation, filing, prosecution of patent application claiming [    *    ] Licensee Invention and maintenance of granted patent shall be discussed and decided between
[    *    ] and [    *    ] Licensee; 
  
 (ii) ISTA shall have an exclusive right to use and otherwise practice [    *    ] Licensee Invention in ISTA
Territory, under the conditions otherwise agreed among SENJU, ISTA and [    *    ], provided, however, that if [    *    ] Licensee Invention fails to grant the patent
right in ISTA Territory, ISTA shall have no obligation to pay any compensation for ISTA’s using and otherwise practicing [    *    ] Licensee Invention; 
  
 (iii) SENJU shall have an exclusive right, with the right to sub-license, to
use and otherwise practice [    *    ] Licensee Invention outside ISTA Territory, under the conditions otherwise agreed in accordance with SENJU-[    *    ] License
Agreement; 
  
 (iv) SENJU shall have
[    *    ] not to transfer, license, dispose or withdraw the patent application and granted patent claiming [    *    ] Licensee Invention under Paragraph 15.07 without
prior written approval of ISTA in ISTA Territory. 
  

 17 

 15.08 The wording of “Joint Invention” referred in this Article 15 shall mean the invention or discovery
generated from direct cooperation or communication among the Parties or the result of such cooperation and communication. 
  
 15.09 Notwithstanding Paragraphs 15.01(i), 15.02(i)and 15.05(i), ISTA may elect, on a country by country basis, not to pay its share of any costs and expenses for the
preparation, filing, prosecution and maintenance of any patent applied for or issued in a county or countries claiming a SENJU-ISTA Joint Invention, SENJU-ISTA-[    *    ] Joint Invention or ISTA Sole
Invention. In such event, ISTA shall not be a joint holder of any such patent for which ISTA elects not to pay its share of the costs. For the avoidance of doubt, if such patent for which ISTA elects not to pay its share of the costs is applied for
or issued in the ISTA Territory, then ISTA shall have exclusive right to use and otherwise practice the Invention claimed by such patent in ISTA Territory and SENJU and/or [    *    ] (as the case may be)
shall be compensated for ISTA’s use of such Invention in ISTA Territory as long as ISTA pays the running royalty to SENJU under Paragraph 8.01 If ISTA desires to continue to use such Invention after this License Agreement terminates in
accordance with Paragraph 17.01, then ISTA and SENJU and/or [    *    ] (as the case may be) shall discuss and decide the terms and conditions for such use. Provided, however, that with respect to such
Invention, if the patent application claiming such Invention fails to grant the patent in the ISTA Territory, then ISTA shall have the right to use and otherwise practice the Invention in the ISTA Territory, free of charge. 
  
 Article 16. - Representations and Warranties 
  
 16.01 SENJU represents and warrants the following with respect to the Patent Rights and
SENJU Technical Information & Know-How to the extent that the Patent Rights and SENJU Technical Information & Know-How relates to develop and commercialize the Preparation as of the Effective Date and during the term hereof (except as
expressly provided below): 
  
 (i) SENJU solely owns the entire
right, title and interest or right to license in and to the Patent Rights and SENJU Technical Information & Know-How in ISTA Territory, subject only to the SENJU-[    *    ] License Agreement; 

 
 (ii) The license grant to ISTA under Article 2 effectively licenses to
ISTA the necessary rights owned or controlled by SENJU and [    *    ] for ISTA to develop and commercialize the Preparation in ISTA Territory and to otherwise practice the license granted hereunder, including
but not limited to any and all rights granted to SENJU by [    *    ] under the SENJU-[    *    ] License Agreement in and to the Patent Rights and SENJU Technical
Information & Know-How in ISTA Territory; 
  
 (iii)
SENJU-[    *    ] License Agreement is in full force and effect as of the Effective Date, will continue to be in full force and effect during the term hereof, and will not be terminated, amended or waived in
any way that would adversely effect the exclusive rights granted to ISTA hereunder or ISTA’s full exercise of such rights, without prior written approval of ISTA; 
  
 (iv) SENJU has not granted any license or sublicense or entered into any contract with any Third Party concerning the Patent
Rights and SENJU Technical Information & Know-How within ISTA Territory; 
  

 18 

 (v) SENJU has not taken or failed to take any action that might result in the invalidity or
unenforceability of any patent included with the Patent Rights against any Third Party; 
  
 (vi) SENJU has no information, at the Effective Date, that the Patent Rights and SENJU Technical Information & Know-How may be subject to challenge or interference or be invalid or unenforceable; 
  
 (vii) SENJU has the full legal power, authority and right to enter into this
License Agreement, and to grant the exclusive license under the Patent Rights and the SENJU Technical Information & Know-How and to perform its obligations under this License Agreement. Upon execution and delivery by SENJU, this License
Agreement will constitute a valid and binding agreement of SENJU enforceable in accordance with its terms. The execution, delivery and consummation of this License Agreement will not result in the breach of or give rise to cause for termination of
any agreement to which SENJU may be a party which relates to the Patent Rights and SENJU Technical Information & Know-How (including but not limited to the SENJU-[    *    ] License Agreement); and

  
 (viii) Each patent and patent application included in the
Patent Rights as of the Effective Date is listed on Schedule A to this Agreement. 
  
 16.02 SENJU represents and warrants to ISTA that: 
  
 (i) Other than US Patent Number 5,830,913, there are no patents or patent applications owned or controlled by SENJU, or owned or controlled by SENJU and [    *    ] jointly, or licensed to SENJU under
SENJU-[    *    ] License Agreement, relating to the Preparation or the Compound or covering SENJU Technical Information & Know-How; 
  
 (ii) There are no divisions, continuations or continuations-in-part to, or any other patent application claiming priority
from, U.S. Patent Application No. 747,647; 
  
 (iii) SENJU’s
license of US Patent Number 5,830,913 to ISTA are the only patent rights necessary for ISTA to develop, make, have made, use, offer to sell, sell and otherwise commercialize the Preparation in the Territory as contemplated under the License
Agreement. 
  
 16.03 Except as expressly provided in Paragraph 16.01, nothing in
this License Agreement or any license pursuant to it shall be construed or implied as a representation or warranty by SENJU that the Patent Rights, SENJU Technical Information & Know-How, Improvement made by SENJU or
[    *    ], SENJU Sole Invention, [    *    ] Sole Invention or other invention, discovery, know-how, proprietary information or right licensed by SENJU hereunder are
valid or that the commercialization of the Preparation or any other activities of ISTA under this License Agreement shall not be an infringement of the rights of any Third Party including, but not limited to, patent, know-how, trade-secret,
trademark or other intellectual property rights of Third Party. In addition, ISTA makes no representation or warranty that the use by SENJU, SENJU Licensee, SENJU Subsidiary,
[                                *        
                     ] of any ISTA Technical Information & Know-How, Improvement and ISTA Sole Invention or other invention, discovery, know-how,
proprietary information or right licensed by ISTA hereunder will not be an infringement of the rights of any Third Party including, but not limited to, patent, know-how, trade-secret, trademark or other intellectual property rights of Third Party.

  

 19 

 16.04 In the event that SENJU or ISTA become aware of any actual or threatened infringement by any Third Party upon SENJU
proprietary right relating to the Preparation, such Party shall immediately notify the other Party in writing. SENJU shall notify [        *        ] of such actual or
threatened infringement by any Third Party. SENJU and ISTA joining [        *        ] shall discuss and decide the resolution of the matter. 
  
 16.05 Notwithstanding Paragraph 16.02, in the event of a claim or suit made by Third Party
against SENJU and/or ISTA for patent infringement involving the manufacture, use, sale, distribution or marketing of the Preparation using the formulation including the future formulation which SENJU uses in Japan, in ISTA Territory, the Party sued
shall promptly notify the other Party in writing thereof. 
  
 In this case, the
following shall apply: 
  
 (i) ISTA shall have sole
responsibility to defend such claim or suit made by Third Party. SENJU may, at its option, decide whether or not SENJU is involved in the defense, provided, however, that regardless of whether SENJU decides to participate in the defense, it shall
pay those litigation costs specified in 16.04 (ii) below. SENJU shall cooperate in the defense to the extent that SENJU shall provide any and all documents requested by ISTA to substantiate the patent; 
  
 (ii) ISTA and SENJU shall share equally the damages awarded to, all
litigation cost and attorney fees as a result of the suit or settlement thereof. However, SENJU’s total liability shall not exceed the half of milestone payments received from ISTA by the time of resolution of the suit or settlement under
Paragraph 7.01; and 
  
 (iii) Notwithstanding Paragraph 16.05
(ii), if ISTA is obligated to pay a running royalty to the Third Party as a result of such claim or suit made by said Third Party, SENJU and ISTA shall equally share the burden of the running royalty. And the percentage of running royalty paid by
ISTA to SENJU under Paragraph 8.01 herein shall be [        *        ] by the share equivalent to
[        *        ] [    *    ] of the running royalty to be paid to said Third Party, during the remaining term of Initial
Period of Term. However, the running royalty to be paid by ISTA to SENJU for the Initial Period of Term shall not be less than
[            *            ] of the Net Sales of the Preparation by ISTA for the Initial Period of Term and shall not be decreased
the royalty percentage set forth in paragraph 8.01 (ii) following Initial Period of Term, even if the running royalty to be paid by ISTA to SENJU decreases due to the payment of running royalty to said Third Party. 
  
 16.06 In the event of a claim or suit made by Third Party against SENJU and/or ISTA for
patent infringement involving the manufacture, use, sale, distribution or marketing of the Preparation using the formulation which ISTA develops by itself, the Party sued shall promptly notify the other Party in writing thereof. In this case, ISTA
shall settle or defend the claim or suit under the sole cost and responsibility of ISTA with its total monetary obligation, and shall indemnify and hold harmless SENJU and [    *    ] from such claim or suit.

  
 16.07 SENJU shall, or shall cause
[        *        ] to, diligently prosecute and/or maintain, at the expense of SENJU or
[        *        ] (as the case may be), the patents and patent application included in the Patent Rights. In the event that SENJU or
[        *        ] is unable or unwilling to fully comply with the obligations set forth above, then ISTA may elect, by providing notice SENJU, to file and/or prosecute
the patent applications and/or maintain the patents included in the Patent Rights in ISTA’s own name and on ISTA’s own behalf. In such event, SENJU shall reimburse ISTA for all costs and expenses incurred. 
  

 20 

 16.08 SENJU SHALL MAKE NO WARRANTIES WHATSOEVER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PREPARATION MANUFACTURED AND/OR
SOLD HEREUNDER INCLUDING WITHOUT LIMITATION ANY WARRANTY OF THE MERCHANTABILITY OR FITNESS FOR PARTICULAR PURPOSE OF THE PREPARATION SOLD BY ISTA. 
  
 16.09 NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER PARTY FOR LOSS OF PROFITS OR INDIRECT, INCIDENTAL, SPECIAL,
CONSEQUENTIAL OR PUNITIVE DAMAGES RESULTING FROM THIS LICENSE AGREEMENT. 
  
 Article 17. - Term and Termination 
  
 17.01 This
License Agreement shall become effective as of the Effective Date and shall be in full force and effect for ten (10) years after Initial Period of Term. 
  
 17.02 In the event that this License Agreement terminates in accordance with Paragraph 17.01: 
  
 (i) ISTA shall have the perpetual, irrevocable, fully paid up license for SENJU Technical Information & Know-How related
to the Preparation in ISTA Territory and shall have the right to make, have made, use, offer to sell and sell the Preparation continuously without any compensation to SENJU or [    *    ]; 
  
 (ii) ISTA shall have the license to use
[    *    ] Trademark continuously under the Trademark License Agreement otherwise agreed among SENJU, [    *    ] and ISTA subject to the payment of royalty set forth
Paragraph 8.01 (ii)(b), if ISTA uses [    *    ] Trademark for the Preparation; 
  
 (iii) SENJU, ISTA and/or [    *    ] shall discuss and decide the terms and conditions for their use of following
each Invention under Article 15 if: 
  
 (a) ISTA desires to use,
continuously and exclusively, SENJU’s and/or [    *    ]’s share in each SENJU-ISTA Joint Invention, SENJU-[    *    ] Joint Invention,
SENJU-ISTA-[    *    ] Joint Invention, SENJU Sole Invention, ISTA Sole Invention and/or [    *    ] Sole Invention in ISTA Territory; 
  
 (b) SENJU (including SENJU Licensee and SENJU Subsidiary) desires to use,
continuously and exclusively, ISTA’s share in each SENJU-ISTA Joint Invention, SENJU-ISTA-[    *    ] Joint Invention and/or ISTA Sole Invention outside ISTA Territory; 
  
 (c) Provided, however, that with respect to each Invention, if the patent
application claiming such Invention fails to grant the patent in country or area where such Party desires to use and otherwise practice, such party shall have the right to use and otherwise practice the Invention in such country or area, free of
charge. 
  
 17.03 Notwithstanding the stipulation of Paragraph 17.01 above, either
a Party may terminate this License Agreement at any time by giving notice to the other Party in the event; 
  

 21 

 (i) that the other Party materially defaults or is in breach of the performance of any material
obligation imposed on it in this License Agreement and such default is not remedied in all material respects within [        *        ] of receipt of written demand from
the notifying Party to cure the default; or 
  
 (ii) that the
other Party shall have become insolvent or bankrupt, or shall have made a general assignment for the benefit of its creditors, or any case or proceeding shall have been commenced by or against the other Party in bankruptcy or seeking reorganization,
liquidation, dissolution, or any other relief under any bankruptcy, insolvency, reorganization or other similar act or law, and any such event shall have continued for
[        *        ] undismissed or undischarged. 
  
 17.04 If ISTA decides, in its sole discretion, to give up the Development Activities due to the lack of effectiveness of the Preparation or, occurrence of serious and
unexpected adverse event of the Preparation in the course of Development Activities, change in market, ISTA’s business or the Preparation’s prospects, or other good and valid reason, ISTA shall inform SENJU of ISTA’s decision and the
reasons for such decision by written notice and, [            *            ] after such notice, this License Agreement shall be
terminated. 
  
 17.05 If ISTA decides, in its sole discretion, and bona fide
business judgment due to the lack of effectiveness of the Preparation or, occurrence of serious and unexpected adverse event of the Preparation, change in market, ISTA’s business or the Preparation’s prospects, or other good and valid
reason, to give up pursuit or maintain the Governmental Approval or the manufacture, sale or commercialization of the Preparation in the ISTA Territory, ISTA shall inform SENJU of its decision and the reasons for such decision by written notice and,
[    *    ] after such notice, this License Agreement shall be terminated. 
  
 17.06 If this License Agreement is terminated by ISTA in accordance with Paragraph 17.03 through 17.05, ISTA shall promptly cease its Development Activity, manufacture
and/or commercial activities, as the case may be, concerning the Preparation, and, at its option, destroy the Preparation then stocked by ISTA including the cost of the inventory, or sell the remaining inventory of the Preparation and settle its
obligation, if any, to pay any royalties or other payment due under this License Agreement within
[                        *                
             ] after the termination thereof. Upon SENJU’s request, ISTA shall return to SENJU all the SENJU Technical Information & Know-How and remaining Compound provided by
SENJU under this License Agreement and shall assign to SENJU, without any compensation all of the rights, titles and interests pertaining to the Preparation including without limitation, all rights to Governmental Approval in ISTA Territory.

  
 17.07 In the event that (i) SENJU materially defaults or is in breach of the
performance of any material obligation imposed on it in SENJU-[    *    ] License Agreement and such default is not remedied in all material respects within
[        *        ] of receipt of written demand from [    *    ] to cure the default; and
[    *    ] seeks to terminate SENJU-[    *    ] License Agreement due to SENJU’s breach or (ii) SENJU assigns or makes any composition or sequestration of its
assets for the benefit of its creditors, or assigns its rights hereunder partially or in their entirety to any Third Party, then prior to any termination of the SENJU-[    *    ] License Agreement, SENJU shall
have [    *    ] enter into a direct license with ISTA for the Patent Rights and Technical Information & Know-How in ISTA Territory to allow ISTA to make, have made, use, offer to sell, sell and otherwise
develop and commercialize the Preparation in ISTA Territory. The terms of such direct license shall be agreed to between ISTA and [    *    ] through a good faith discussion based on those terms as set forth
in this License Agreement (as amended from time to time), said direct license 
  

 22 

 cannot, however, modify Article 7 (Compensation), Article 8 (Royalties), Article 11 (Availability of Compound), Article
15 (New Invention and Discovery), Paragraph 17.01 and 17.02 of Article 17 (Term and Termination) of this License Agreement. It is understood that some of SENJU’s obligations under this License Agreement may not be
[    *    ] obligations under the SENJU-[    *    ] License Agreement, and vice versa. Provided, however, that notwithstanding anything else contrary hereof, ISTA
acknowledges and agrees that [    *    ] will be released from and not have the obligation to provide ISTA with the assistance in the field of ophthalmology even if
[    *    ] would be a party of this License Agreement on behalf of SENJU under this Paragraph 17.07. 
  
 17.08 Expiration or termination of this License Agreement shall not affect the rights and obligations of the Parties which are expressly intended to survive expiration or
termination of the License Agreement, including, without limitation, those rights and obligations set forth in Articles 12 and 14 and in Paragraphs 9.03, 15.01(iv), 15.02(v), 15.05(iv), 15.06(ii), 16.08, 16.09, 17.02, 17.06, 17.07, 18.01, 18.02,
19.01 and 22.01. 
  
 Article 18. - Governing Laws
and Arbitration 
  
 18.01 This License Agreement shall be governed by and
interpreted in accordance with the Laws of Japan. 
  
 18.02 All disputes,
controversies or differences which may arise between the Parties hereto or for the breach thereof shall be referred to and settled by arbitration in accordance with the Arbitration Rules of the International Chambers of Commerce as currently in
force by one or more arbitrators appointed under the Rules. Such arbitration hereunder shall be proceeded in English language and shall be held in Japan if the arbitration is requested by ISTA and in Los Angeles, California, U.S.A. is the
arbitration is requested by SENJU. The determination of the arbitration shall be final, binding and conclusive upon the Parties hereto. Notwithstanding anything herein to the contrary, the relevant cure periods for breach under this License
Agreement shall toll while either Party pursues resolution to a dispute through arbitration. 
  
 Article 19. - Notice 
  
 19.01 Any notice to be given to a Party under or in connection with this License Agreement shall be in writing and shall be (i) personally delivered, (ii) delivered by a
nationally recognized overnight courier, (iii) delivered by certified mail, postage prepaid, return receipt requested to the Party or (iv) delivered by facsimile transmission to the Party, at the address or facsimile number set forth below for such
Party or such other address or facsimile number as a Party may from time to time designate by written notice to the other: 
  

			
	 to SENJU:
	 	 to ISTA:

		
	 Executive Vice President
 SENJU Pharmaceutical Co., Ltd.
 5-8, Hiranomachi 2-chome
 Chuo-ku, Osaka, 541-0046
 Japan
 Facsimile: +81-6-6226-0406
	 	 Chief Executive Officer
 ISTA Pharmaceuticals, Inc.
 15279 Alton Parkway, Suite 100
 Irvine, CA 92618
 U.S.A.
 Facsimile: (949) 789-7744

  

 23 

 Any such notice shall be deemed to have been received by the addressee
[            *            ] following the date of dispatch of the notice or other document by post or, where the notice or other
document is sent by overnight courier, by hand or is given by facsimile, simultaneously with the transmission or delivery. To prove the giving of a notice or other document it shall be sufficient to show that it was dispatched. 
  
 Article 20. - Force Majeure 
  
 20.01 Neither Party hereto shall be liable for any failure to perform as required through
this License Agreement by reason of Force Majeure, to the extent such failure to perform is due to circumstances reasonably beyond the control of such Party, such as requisition or interference by any government, state or local authorities, war,
strikes, lockout or other labor disputes, accident or breakdown in whole or in part of transportation or loading facility, other accidents, failure to secure required Governmental Approval, civil disorders or commotions, act of aggression, acts of
God, energy or other conservation shortages, disease, or occurrences of a similar nature. 
  
 20.02 If and when any Party is hindered in its performance of its obligations under this License Agreement by reason of Force Majeure, the performance of those obligations shall be suspended for the duration of, but
not longer than, the continuance of such circumstances. 
  
 20.03 Either Party
hereto whose performance of obligation has been hindered by reason of Force Majeure shall inform the other Party immediately, and shall use its reasonable best effort to overcome the effect of the Force Majeure. 
  
 Article 21. - Non-Assignability 
  
 21.01 This License Agreement is personal to the Parties hereto and shall not be assignable,
transferable or saleable (including asset sale of solely that Party’s rights in the License Agreement) to any Third Party by either Party, without the prior express written consent of the other Party, such consent not to be unreasonably
withheld; provided, however, that no such consent shall be required from SENJU if ISTA or ISTA’s business is merged or acquired by a Third Party by way of merger, consolidation or sale of all or substantially all of its assets and SENJU is
given written notice thereof at least [        *        ] in advance of the closing thereof. 
  
 Article 22. - Authentic Text 
  
 22.01 This Text of this License Agreement in the English language shall be the authentic text, and any text in another language, even if
such text is made by translation of this Text of this License Agreement or prepared by any of the Parties hereto for any purpose, shall have no meaning for any purpose between the Parties hereto. 
  
 Article 23. - Entire Agreement 
  
 23.01 Secrecy Agreement shall be replaced by this License Agreement as of the Effective Date so that Secrecy Agreement shall terminate
simultaneously. 
  
 23.02 This License Agreement shall constitute the entire
agreement between the Parties hereto concerning the subject matter hereof and shall supersede any other agreements, whether oral or written, express or implied, and may not be changed or modified or revised except as specifically agreed upon by the
Parties hereto in a written document bearing the respective signatures of the authorized officers. 
  

 24 

 Article 24. - Separability 
  
 24.01 Even in the event that any portion of this License Agreement shall be held illegal,
void, ineffective or unenforceable, the remaining portion shall remain in full force and effect. 
  
 24.02 If any of the terms or provisions of this License Agreement are in conflict with any applicable statute or rule of law, such terms and provisions shall be deemed inoperative to the extent that may conflict
therewith and shall be deemed to be modified to conform with such statute or rule of law. 
  
 24.03 In the event that the terms and conditions of this License Agreement are materially altered as a result of the provision in Paragraph 24.02, the Parties will re-negotiate the terms and conditions of this License
Agreement to resolve any inequities. 
  
 Article
25. Parties in Interest. 
  
 25.01 Nothing in this License Agreement, whether
express or implied, is intended to confer any rights or remedies under or by reason of this License Agreement on any persons other than the Parties to it and their respective successors and assigns, nor is anything in this License Agreement intended
to relieve or discharge the obligation or liability of any third persons to any Party to this License Agreement, nor shall any provision give any third persons any right of subrogation or action over or against any party to this License Agreement.

  
 Article 26. Independent Contractor Status, No
Agency. 
  
 26.01 SENJU’s and ISTA’s activities hereunder shall be
conducted as independent contractors and no agency relationship shall exist between the parties. 
  
 IN WITNESS WHEREOF, SENJU and ISTA have caused this License Agreement to be executed in duplicate counterparts by their duly authorized officers, each
fully executed copy hereof to be deemed as original, as of the date and year first above written. 
  

							
	SENJU:	 	ISTA:
		
	SENJU Pharmaceutical Co. Ltd.	 	ISTA Pharmaceuticals, Inc.
				
	signature:	 	  

	 	signature:	 	  

	name:	 	Shoji Yoshida	 	name:	 	Vicente Anido Jr., Ph.D.
	title:	 	President	 	title:	 	Chief Executive Officer

  

 25 

 SCHEDULE A 
 PATENT RIGHT 
  

			
	Title of Invention:	 	Method for Preventing or Treating Dry Eye or Disease caused Therefrom
		
	Application Number:	 	747,647
		
	Date of Application:	 	November 13, 1996
		
	Patent Number:	 	US 5,830,913
		
	Date of Patent:	 	November 3, 1998
		
	Proprietor:	 	[            *            ] Co., Ltd.
	 	 	Senju Pharmaceutical Co., Ltd.

  

 1

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