Document:

Exhibit 10.2

 Exhibit 10.2 
 TRANSITION SERVICES AGREEMENT 
 THIS TRANSITION SERVICES AGREEMENT (this
“Agreement”), is entered into as of December 4, 2007 (the “Effective Date”), by and among Nabi Biopharmaceuticals, a Delaware corporation (“Seller”), and Biotest Pharmaceuticals Corporation, a
Delaware corporation (“Buyer”, and with Seller, each a “Party”, and collectively, the “Parties”). 
 WHEREAS, Seller and Buyer are parties to that certain Asset Purchase Agreement dated as of September 11, 2007 (“Asset Purchase Agreement”), pursuant to which, Seller agreed to sell to
Buyer, and Buyer agreed to acquire from Seller, the Purchased Assets (as defined in the Asset Purchase Agreement); 
 WHEREAS, in
connection with the Asset Purchase Agreement, Seller and Buyer desire to enter into, and are entering into, this Agreement for the purpose of setting forth the terms and conditions pursuant to which Seller will use commercially reasonable efforts to
provide, or to cause to be provided, certain services and transition assistance to Buyer in connection with its acquisition of the Purchased Assets and Buyer will use commercially reasonable efforts to provide, or to cause to be provided, certain
services and transition assistance to Seller; and 
 NOW, THEREFORE, in consideration of the premises, the covenants and agreements
contained in this Agreement and the Asset Purchase Agreement, and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, Seller and Buyer agree as follows: 
 ARTICLE 1 
 DEFINITIONS AND
REFERENCES 
  

	 	1.1.	Defined Terms. 

 Capitalized terms used in this
Agreement and not defined herein shall have the meanings given to such terms in the Asset Purchase Agreement. 
  

	 	1.2.	Construction of Certain Terms and Phrases. 

 Unless
the context of this Agreement otherwise requires: (a) words of any gender include each other gender; (b) words using the singular or plural number also include the plural or singular number, respectively; (c) the terms
“hereof,” “herein,” “hereby” and derivative or similar words refer to this entire Agreement; (d) all references herein to “Articles” or “Sections” are to Articles or Sections of this Agreement;
(e) the words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation”; and (f) references to a Person are also to its successors and permitted assigns.

 ARTICLE 2 
 BUYER TRANSITION ASSISTANCE 
  

	 	2.1.	Buyer Transition Services. 

 Subject to the terms
and conditions of this Agreement, Seller shall use commercially reasonable efforts to provide, or to cause to be provided, to Buyer the services set forth in Exhibit A (“Buyer Transition Services”) from and after the
Effective Date until the earlier of (a) six (6) months following the Effective Date, or (b) Buyer’s written notice to Seller advising Seller that the Buyer Transition Services, or any certain component thereof, are no longer
required by Buyer (the “Buyer Transition Period”). To the extent that a Seller Shared Use Asset was not split or segregated by Closing pursuant to Section 6.7(d) of the Asset Purchase Agreement, Seller agrees to use
commercially reasonable efforts to allow Buyer to continue to use such Seller Shared Use Asset during the Term (as defined in Section 8.1 below), passing through to Buyer any costs and any benefits directly related to Buyer’s use of
such Seller Shared Use Asset, and to continue to work in good faith during the Term to split or segregate such Seller Shared Use Asset. For the avoidance of doubt, Buyer shall have the right to terminate one or more specific Buyer Transition
Services prior to the date that is six (6) months following the Effective Date, while continuing other Buyer Transition Services. 
  

	 	2.2.	Provision of the Transition Services. 

 Seller
warrants that it will perform the Buyer Transition Services in a professional and workmanlike manner and, where applicable, Seller shall use reasonable efforts to perform the Buyer Transition Service in accordance with Seller’s past practices
and standard operating procedures prior to the Closing, provided, however, that Seller shall not be obligated to hire additional employees or engage any outside contractors or external resources to perform any requested Buyer
Transition Service. If Buyer requests Buyer Transition Services that would require Seller to hire additional employees or engage any outside contractors or external resources for performance of such services, Seller will promptly notify Buyer and
the Parties will discuss in good faith terms under which Seller shall provide such Buyer Transition Services, provided, that absent agreement otherwise by the Parties, the requested services will not be provided. Seller’s provision of the Buyer
Transition Services during the Buyer Transition Period shall not confer upon Seller, or imply or be construed as vesting in Seller, any ownership or management rights with respect to the Purchased Assets, and, subject to the Asset Purchase Agreement
as amended by that certain Letter Agreement between the Parties with respect to certain Florida regulatory matters, Buyer shall at all times after the Effective Time be the owner of the Purchased Assets with all the rights of, and responsibility
for, the management and ownership of the Purchased Assets and all activities ancillary or incident thereto. 
  

	 	2.3.	Compliance with Applicable Laws. 

 Seller shall,
and shall cause its respective employees to, comply with all Applicable Laws in connection with the provision of the Buyer Transition Services. 
  

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	 	2.4.	Audit and Inspection Rights. 

 Seller shall keep
complete, accurate and detailed records in connection with this Agreement and all matters associated with Seller’s rendering of Buyer Transition Services. Such records shall be kept in sufficient detail to permit independent audit of such
records. Seller shall, at Buyer’s request and expense, make such records available upon reasonable notice during business hours for examination by Buyer, its legal representatives, or its independent certified public accountants or auditors as
designated by Buyer and approved by Seller, which approval shall not be unreasonably withheld or delayed. 
  

	 	2.5.	Pre-Closing Transition Services. 

 Buyer
acknowledges that Seller has provided considerable transition services during the period between execution of the Asset Purchase Agreement and the Closing (the “Pre-Closing Transition Services”). The Pre-Closing Transition Services
have been provided at the request of and subject to the direction and oversight of Buyer. 
  

	 	2.6.	Use of Seller Office Space. 

 Seller will provide
office space and administrative support, as reasonably requested by Buyer, for Buyer personnel and outside consultants in connection with Buyer’s clinical and regulatory transition activities (including meetings between Seller personnel and
Buyer personnel). 
 ARTICLE 3 
 SELLER TRANSITION ASSISTANCE 
  

	 	3.1.	Seller Transition Services. 

 Subject to the terms
and conditions of this Agreement, Buyer shall use commercially reasonable efforts to provide, or to cause to be provided, to Seller the services set forth in Exhibit B (“Seller Transition Services”) from and after the
Effective Date until the earlier of (a) six (6) months following the Effective Date, or (b) Seller’s written notice to Buyer advising Buyer that the Seller Transition Services, or any certain component thereof, are no longer
required by Seller (the “Seller Transition Period”). To the extent that a Buyer Shared Use Asset was not split or segregated by Closing pursuant to Section 6.7(d) of the Asset Purchase Agreement, Buyer agrees to use
commercially reasonable efforts to allow Seller to continue to use such Buyer Shared Use Asset during the Term, passing through to Seller any costs and any benefits directly related to Seller’s use of such Buyer Shared Use Asset, and to
continue to work in good faith during the Term to split or segregate such Buyer Shared Use Asset. For the avoidance of doubt, Seller shall have the right to terminate one or more specific Seller Transition Services prior to the date that is six
(6) months following the Effective Date, while continuing other Seller Transition Services. 
  

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	 	3.2.	Provision of the Transition Services. 

 Buyer
warrants that it will perform the Seller Transition Services in a professional and workmanlike manner and, where applicable, Buyer shall use reasonable efforts to perform the Seller Transition Services in accordance with Seller’s past practices
and standard operating procedures prior to the Closing, provided, however, that Buyer shall not be obligated to hire additional personnel or engage any outside contractors or external resources to perform any requested Seller
Transition Service. If Seller requests Seller Transition Services that would require Buyer to hire additional personnel or engage any outside contractors or external resources for performance of such services, Buyer will promptly notify Seller and,
absent agreement otherwise by the Parties, the requested services will not be provided. Buyer’s provision of the Seller Transition Services during the Seller Transition Period shall not confer upon Buyer, or imply or be construed as vesting in
Buyer, any ownership or management rights with respect to the Excluded Assets, and Seller shall at all times be the owner of the Excluded Assets with all the rights of, and responsibility for, the management and ownership of the Excluded Assets and
all activities ancillary or incident thereto. 
  

	 	3.3.	Compliance with Applicable Laws. 

 Buyer shall, and
shall cause its respective employees to, comply with all Applicable Laws in connection with the provision of the Seller Transition Services. 
  

	 	3.4.	Accounts Receivable. 

 Buyer shall direct
Seller’s former employees or other accounting employees to (i) invoice payors with respect to unbilled Accounts Receivable in a manner and on a timetable consistent with Seller’s operations prior to Closing, (ii) use commercially
reasonably efforts to collect Accounts Receivable for the benefit of Seller in a manner consistent with Seller’s practices as of the Effective Date, and (iii) prepare and deliver to Seller periodic billing and collection reports consistent
with Seller’s practices as of the Effective Date. All amounts collected by Buyer with respect to Accounts Receivable of the Seller will be remitted to Seller no later than five (5) Business Days after such amount was received by Buyer.

  

	 	3.5.	Audit and Inspection Rights. 

 Buyer shall keep
complete, accurate and detailed records in connection with this Agreement and all matters associated with Buyer’s rendering of Seller Transition Services. Such records shall be kept in sufficient detail to permit independent audit of such
records. Buyer shall, at Seller’s request and expense, make such records available upon reasonable notice during business hours for examination by Seller, its legal representatives, or its independent certified public accountants or auditors as
designated by Seller and approved by Buyer, which approval shall not be unreasonably withheld or delayed. 
  

	 	3.6.	Use of Buyer Office Space; Audit and Compliance Matters. 

 Buyer will provide, consistent with past Seller practices, reasonable office space and reasonable administrative support on reasonable notice during regular business hours at Buyer’s Boca Raton facility for Seller’s outside audit
team (currently Ernst & 

  

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Young), Seller’s outside Sarbanes-Oxley consultant (currently AFS) and certain Seller personnel in connection with the completion of the audit of
Seller’s financial statements for the fiscal year ending December 31, 2007, Seller’s compliance activities under the Sarbanes-Oxley Act of 2002 (“Sarbanes-Oxley”), and the preparation of financial statements and
reports to be filed with the Securities and Exchange Commission (“SEC”) under the Securities Exchange Act of 1934, as amended (“34 Act”) and other applicable securities laws during the Seller Transition Period.
Buyer agrees that during the Seller Transition Period, without the consent of the Seller, which consent will not be unreasonably withheld, delayed or conditioned, it will not make any changes to its internal control structure that would reasonably
be expected to adversely affect Seller’s 34 Act filings with the SEC or compliance with Sarbanes-Oxley requirements. 
 ARTICLE 4 

 MUTUAL COOPERATION 
  

	 	4.1.	Records Maintained in Offsite Secure Storage. 

 The
parties shall use commercially reasonable efforts to review all records maintained by Seller or its affiliates in offsite secure storage operated by Iron Mountain Incorporated (“Iron Mountain”) and determine as soon as reasonably
practicable which such records constitute BSBU Records and which such records constitute Retained Information. Upon a mutual determination as to the status of such records, the Buyer and Seller shall enter into separate contracts with Iron Mountain
(or another service provider) with respect to the BSBU Records and the Retained Information, respectively. Until the earlier of two (2) years following the Effective Date or the segregation of all BSBU Records and Retained Information under
separate agreements with Iron Mountain (or another service provider), Buyer shall reimburse Seller for eighty percent (80%) of the monthly Iron Mountain charges or such other portion of such charges as the Parties agree. If Buyer does not
remove its BSBU Records from Seller’s Iron Mountain storage space prior to the second anniversary of the Effective Date, Seller may dispose of such BSBU Records without any liability to Buyer or any third party claiming through Buyer or under
any Assumed Contract. 
  

	 	4.2.	New Employees and Consultants. 

 In the course of
providing transition services hereunder, each Party will use reasonable efforts to assist the other Party’s new employees and consultants in connection with the performance of their transition-related activities. 
 ARTICLE 5 
 CONSIDERATION

 The consideration to be paid by Buyer to Seller for Buyer Transition Services and by Seller to Buyer for Seller Transition Services
provided hereunder shall be calculated as one hundred fifty percent (150%) of direct salary costs incurred by the Party providing services, provided, that, in consideration for certain Pre-Closing Transition Services provided by Seller
to Buyer 

  

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without charge, Buyer shall provide Seller Transition Services during the first sixty (60) days of the Term following the Effective Date without charge.
The Parties shall invoice each other for the amounts due hereunder and each Party agrees to pay such amounts within thirty (30) calendar days of the date of such invoice. Each Party may charge the other a late fee of one percent (1%) per
month for any amounts not paid when due. The hourly billing rates set forth on Exhibit C reflect one hundred fifty percent (150%) of direct salary costs for various categories of employees. 
 ARTICLE 6 
 CONFIDENTIAL INFORMATION;
TRADING IN SELLER SECURITIES 
 The confidentiality provisions set forth in the Asset Purchase Agreement shall apply to this Agreement
and are incorporated herein by reference, and shall apply to any information provided by Buyer to Seller, or by Seller to Buyer, in connection with this Agreement. Buyer acknowledges that in connection with this Agreement, Seller shall provide from
time to time to Buyer and certain of its directors, officers and employees certain material non-public information regarding Seller (including, but not limited to, information regarding Seller’s financial performance and results of
operations) to assist Buyer with performing its obligations under this Agreement and related agreements. As a result thereof, Buyer hereby agrees that Buyer shall not, and shall direct its directors, officers and employees to refrain from,
trading in the securities of Seller without the prior written permission of Seller during the Term and for 180 days after the termination of this Agreement (such period, including such 180-day post-termination period, the “No Trading
Period”); provided, however, that if Seller informs Buyer at any time, including either during or after the No Trading Period, that any of the information previously supplied to Buyer remains material non-public information of
Seller, then Buyer shall not, and shall direct its directors, officers and employees to refrain from, trading in the securities of Seller until Seller has informed Buyer in writing that such information no longer constitutes material non-public
information under the U.S. federal securities laws. 
 Notwithstanding the foregoing, those employees of Buyer who (1) are former
employees of Seller, and (2) (a) have been granted employee stock options by Seller, or (b) otherwise hold shares of Seller common stock, may exercise such options in accordance with their terms and sell the shares of Seller common
stock that are received as a result thereof, or sell any other shares of Seller common stock held by such former employee, so long as such exercises and sales comply with Seller’s insider trading policy and similar policies and procedures of
Seller, including, but not limited to, the trading window requirements of such policies and procedures. Any such compliance determination shall be made by Seller in its sole discretion. 
 ARTICLE 7 
 WARRANTY DISCLAIMER 
 EXCEPT AS EXPRESSLY STATED IN THIS AGREEMENT, NONE OF SELLER, BUYER, THEIR AFFILIATES OR ANY OF THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES OR REPRESENTATIVES MAKES
OR HAS MADE ANY 

  

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OTHER REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED, WRITTEN OR ORAL, AT LAW OR IN EQUITY, REGARDING THE TRANSITION SERVICES, INCLUDING ANY IMPLIED
REPRESENTATION OR WARRANTY WITH RESPECT TO (I) MERCHANTABILITY, NON-INFRINGEMENT, SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR (II) AS TO THE SUITABILITY OF THE TRANSITION SERVICES. 
 ARTICLE 8 
 TERM AND TERMINATION 

  

	 	8.1.	Term. 

 This Agreement will commence on the
Effective Date and, unless earlier terminated in accordance with the terms hereof, shall extend for the later of the duration of the Buyer Transition Period or the Seller Transition Period (the “Term”). 
  

	 	8.2.	Termination. 

 The cancellation or termination of
either the Buyer Transition Services or the Seller Transition Services provided for under this Agreement shall be without prejudice to any obligations or rights of either Party that have accrued up to the date of such cancellation or termination,
including any obligations to pay for Buyer Transition Services or Seller Transition Services rendered, as applicable. In addition, the following articles of this Agreement shall survive termination or expiration for any reason: Articles 2.4,
3.5, 4.1, 6, 7, 8, 9 and 10. 
 ARTICLE 9 
 LIMITATION OF LIABILITY 
 Neither
Party shall have any liability for Losses caused by any act or omission by such Party in connection with the performance of such Party’s obligations under this Agreement, other than repeating a Buyer Transition Service or Seller Transition
Service, as the case may be, for the purpose of correcting an act or omission where reasonable and appropriate under the circumstances, unless such Losses arose from the gross negligence or willful misconduct of such Party or its Representatives in
the performance of their obligations hereunder. Neither Party shall be liable to the other Party or its Representatives, in respect of any act or omission in the course of performing Buyer Transition Services or Seller Transition Services, as the
case may be, for any indirect, special, incidental or consequential losses or damages of any kind, including lost profits or opportunity costs. 
  

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 ARTICLE 10 
 MISCELLANEOUS 
  

	 	10.1.	Insurance. 

 Seller shall maintain and Buyer shall
procure, at their respective expense during the Term, insurance of the types and in the amounts which are reasonably comparable to the policies existing as of the date hereof, to the extent reasonably necessary in relation to the services to be
provided under this Agreement. 
  

	 	10.2.	Ownership of Intellectual Property. 

 To the extent
Seller or any of its Affiliates shall, in the performance of any Buyer Transition Service hereunder, develop, conceive or generate any invention, discovery, improvement, patent, work of authorship or other Intellectual Property or proprietary or
confidential data and/or trade secret (“Buyer Intellectual Property”), Buyer shall own all right, title and interest in and to such Buyer Intellectual Property, notwithstanding its development in connection with its performance of
the services under this Agreement, and Seller agrees to take any and all necessary steps, at Buyer’s expense, to vest or assign such ownership rights in Buyer. 
 To the extent Buyer or any of its Affiliates shall, in the performance of any Seller Transition Service hereunder, develop, conceive or generate any invention, discovery, improvement, patent, work of authorship or
other Intellectual Property or proprietary or confidential data and/or trade secret (“Seller Intellectual Property”), Seller shall own all right, title and interest in and to such Seller Intellectual Property, notwithstanding its
development in connection with its performance of the services under this Agreement, and Buyer agrees to take any and all necessary steps, at Buyer’s expense, to vest or assign such ownership rights in Buyer. 
  

	 	10.3.	No Conflicting Commitments. 

 Each Party represents
to the other that, to its knowledge, (a) the services to be performed by such Party under this Agreement are not prohibited or limited by any other agreement, Law or any applicable order, writ, injunction or decree of any court or Governmental
Authority to which such Party is bound or subject and (b) there are no other agreements, options, commitments or rights of any person (other than Buyer and Seller) to the services set forth herein. 
  

	 	10.4.	Notices. 

 All notices or other communications
required or permitted to be given under this Agreement, including invoices delivered pursuant to Article 5 hereof, shall be delivered in accordance with the provisions for notice set forth in the Asset Purchase Agreement. 
  

	 	10.5.	Entire Agreement. 

 This Agreement, the Asset
Purchase Agreement, the Other Agreements and the Confidentiality Agreement, along with the Schedules and Exhibits hereto and thereto, contain the entire agreement and understanding between the Parties hereto with respect 

  

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to the subject matter hereof and supersede all prior agreements and understandings relating to such subject matter. Neither Party shall be liable or bound to
any other Party in any manner by any representations, warranties or covenants relating to such subject matter except as specifically set forth herein, in the Asset Purchase Agreement, in the Other Agreements or in the Confidentiality Agreement.

  

	 	10.6.	Waiver; Remedies. 

 Buyer, on the one hand, or
Seller, on the other hand, may waive compliance by the other Party with any term or provision of this Agreement that such other Party was or is obligated to comply with or perform, provided that such waiver is delivered in writing in accordance with
the notice provisions hereof. No failure or delay on the part of Seller or Buyer in exercising any right, power or privilege under this Agreement, unless so waived in writing, shall operate as a waiver, nor shall any waiver on the part of either
Seller or Buyer of any right, power or privilege hereunder operate as a waiver of any other right, power or privilege hereunder. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise of
such right, power or privilege or the exercise of any other right, power or privilege under this Agreement. The Parties acknowledge and agree that, in view of the unique nature of the Seller Transition Services and the Buyer Transition Services,
upon a breach by a Party of any of its obligations in this Agreement, irreparable harm will occur, no adequate remedy at law will exist and damages would be difficult to determine. Accordingly, notwithstanding anything to the contrary in this
Agreement, each Party agrees that in the event of breach or threatened breach by the other Party of any provisions of this Agreement, the non-breaching Party shall be entitled to equitable relief in the form of an order to specifically perform or an
injunction to prevent irreparable injury, without being required to provide security or post bond. Nothing herein shall be construed as prohibiting any Party hereto from, pursuing solely or in addition any other remedies, including damages, for
breach or threatened breach of this Agreement. 
  

	 	10.7.	Amendment. 

 This Agreement may not be amended
except by an instrument in writing signed by an authorized representative of each of the Parties hereto. 
  

	 	10.8.	No Third-Party Rights. 

 No provision of this
Agreement shall be deemed or construed in any way to result in the creation of any rights in or obligations of any Person not a Party to this Agreement. 
  

	 	10.9.	Successors and Assigns. 

 This Agreement shall be
binding upon and shall inure to the benefit of the Parties hereto and their respective successors and permitted assigns. This Agreement may not be assigned, transferred, licensed, sublicensed, delegated, pledged or otherwise disposed of by any Party
hereto without the prior written consent of the other Party, which consent may not be unreasonably 

  

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withheld or delayed, provided, that no consent shall be required unless and until the proposed assignee shall have assumed in writing all obligations
of its assignor under this Agreement and such assumption is delivered to the Party whose consent is being requested. Any purported assignment without a required consent shall be void. 
  

	 	10.10.	Fees and Expenses. 

 Except as is otherwise
specified herein, each Party shall bear its own fees and expenses incurred in connection with the performance of this Agreement and the transactions contemplated hereby. 
  

	 	10.11.	Further Assurances. 

 Each Party shall execute and
deliver such additional instruments and other documents and use all commercially reasonable efforts to take or cause to be taken, all actions and to do, or cause to be done, all things necessary under applicable law to consummate the transactions
contemplated hereby. 
  

	 	10.12.	Interpretation. 

 In the event of an ambiguity, or
a question of intent or interpretation arises, under this Agreement, the Agreement shall be construed as if drafted jointly by both Parties, and there shall be no presumption or burden of proof favoring or disfavoring any individual Party by virtue
of the authorship of any provisions of this Agreement. 
  

	 	10.13.	No Joint Venture. 

 Nothing contained herein shall
be deemed to create any joint venture or partnership between the Parties hereto, and, except as is expressly set forth herein, neither Party shall have any right by virtue of this Agreement to bind the other Party in any manner whatsoever. In this
regard, each Party shall act and shall be deemed and construed to act under this Agreement as an independent contractor and not as an agent of the other Party. No employee of either Party shall be considered an employee of the other Party in any
form. 
  

	 	10.14.	Severability. 

 In the event that any term,
provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other authority to be invalid, void, unenforceable or against its regulatory policy such determination shall not affect the enforceability of any
others or of the remainder of the Agreement. 
  

	 	10.15.	Counterparts. 

 This Agreement may be executed
manually or by facsimile by the Parties, in any number of counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 
  

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	 	10.16.	Force Majeure. 

 Neither Party will be liable for
failures or delays in its performance hereunder actually caused by fire, flood, storm, acts of God, strike, lockout or other labor trouble, any law or ordinance, regulatory order or proclamation, or other requirement of any governmental authority,
riot, war, acts of terrorism, or other causes beyond such Party’s reasonable control. In such event, the Party whose performance is affected thereby shall give written notice of its suspension of performance and the specific cause as soon as
reasonably practicable after occurrence of the cause and shall resume performance as soon as reasonably practicable following removal of the cause. 
  

	 	10.17.	Governing Law. 

 This Agreement shall be governed
by and construed in accordance with the laws of the State of New York applicable to agreements made and to be performed entirely within such State, without regard to the conflicts of law principles of such State. In the event that any dispute arises
under this Agreement, the Parties agree to negotiate in good faith to resolve such dispute prior to seeking relief in accordance with the provision for binding arbitration set forth in the Asset Purchase Agreement. Unless otherwise agreed in writing
or set forth herein, and without waiving their respective rights to indemnification pursuant to the Asset Purchase Agreement, the Parties will continue to provide the services set forth herein and will continue to honor all payment and other
commitments under this Agreement during the course of any dispute resolution or in connection with any alleged breach of this Agreement. 
 [SIGNATURE PAGE FOLLOWS] 
  

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 IN WITNESS WHEREOF, the Parties hereto have executed, or caused to be executed, this Transition
Services Agreement as of the date first above written. 
  

			
	
	SELLER:
	
	NABI BIOPHARMACEUTICALS
		
	By:	 	 /s/ Leslie Hudson, Ph.D.

	Name:	 	Leslie Hudson, Ph.D.
	Title:	 	President and Chief Executive Officer
	
	BUYER:
	
	BIOTEST PHARMACEUTICALS CORPORATION
		
	By:	 	 /s/ Dr. Michael Ramroth

	Name:	 	Dr. Michael Ramroth
	Title:	 	PresidentExhibit 10.3

 Exhibit 10.3 
 RIGHT OF FIRST NEGOTIATION/REFUSAL AGREEMENT 
 THIS RIGHT OF FIRST NEGOTIATION/REFUSAL AGREEMENT
(this “Agreement”), is entered into as of December 4, 2007 (the “Effective Date”), between Nabi Biopharmaceuticals, a Delaware corporation (“Nabi”), having its principal place of business at
12276 Wilkins Avenue, Rockville, Maryland 20852 and Biotest Pharmaceuticals Corporation, a Delaware corporation (“Biotest”), having a principal place of business at 5800 Park of Commerce Boulevard, Boca Raton, Florida 33487 (each a
“Party”, and collectively the “Parties”). 
 WHEREAS, on September 11, 2007, Nabi, Biotest and
Biotest AG entered into that certain Asset Purchase Agreement (the “Asset Purchase Agreement”), pursuant to which Biotest agreed to purchase and Nabi agreed to sell certain assets used in, necessary for or related to Nabi’s
biologics strategic business unit and certain other assets; and 
 WHEREAS, in connection with the Asset Purchase Agreement, and pursuant to
the terms previously agreed upon and attached as Exhibit 8.11 to the Asset Purchase Agreement, Nabi and Biotest wish to enter into this Agreement for the purpose of setting forth the terms and conditions pursuant to which Nabi will grant to
Biotest a right of first negotiation and right of first refusal related to certain StaphVAX Rights (as defined below). 
 NOW, THEREFORE, in
consideration of the premises, the covenants and agreements contained in this Agreement and the Asset Purchase Agreement, and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, Nabi and Biotest agree
as follows: 
 ARTICLE 1 
 DEFINITIONS 
 “AltaStaph” means Altastaph® [Staphylococcus aureus Immune Globulin Intravenous (Human)]. 
 “Field of Use” means manufacture, production or use of AltaStaph. The Field of Use excludes any use for the development, production, use or sale of
StaphVAX or any substance or compound other than AltaStaph. 
 “StaphVAX” means Nabi’s vaccine against S. aureus infection
including polysaccharide components based on patented technology that Nabi has licensed on an exclusive basis from the Public Health Service / National Institute of Health, the development of which has been advanced by Nabi for use in patients who
are at high risk of S. aureus infection and who are able to respond to a vaccine by producing their own antibodies. 
 “StaphVAX IP” means
only Nabi’s intellectual property rights under the patents identified on Exhibit A attached hereto. The StaphVAX IP excludes any other intellectual property rights and, without limiting the foregoing, excludes any future inventions,
whether or not patentable, made by or on behalf of Nabi with respect to StaphVAX. 

 ARTICLE 2 
 RIGHT OF FIRST NEGOTIATION 
 Between the Effective Date and 5:00 p.m. Washington, D.C. time on March 4, 2008
(the “Exclusive Period”), Nabi will enter into exclusive, good faith negotiations with Biotest regarding the terms of an agreement pursuant to which Biotest would obtain non-exclusive rights (a) to use StaphVAX or components
thereof acquired from Nabi, its affiliates or its licensees and (b) to license the StaphVAX IP, in each case solely in the Field of Use (such rights collectively, the “StaphVAX Rights”). The Parties acknowledge that, subject to
the Parties’ obligation to negotiate in good faith, neither Party is under any obligation to enter into any agreement under this Article 2 and any and all obligations to engage in negotiations cease upon expiration of the Exclusive
Period. 
 ARTICLE 3 
 RIGHT OF FIRST REFUSAL 
 3.1 Right of First Refusal. If during the
Exclusive Period the Parties do not execute an agreement regarding the StaphVAX Rights pursuant to Article 2, and if, prior to the third (3rd) anniversary of the Effective Date (the “ROFR Term”), Nabi receives a bona fide written offer from a third party (the “Offeror”) to acquire, license or obtain any other rights to or under the StaphVAX
Rights and Nabi wishes to accept such offer, Nabi shall notify Biotest in writing (a “ROFR Notice”) of such offer. The ROFR Notice shall include (i) a description of the StaphVAX Rights to be acquired, licensed or otherwise
granted, (ii) the consideration, and (iii) the other material terms and conditions of the proposed transaction, provided that the ROFR Notice is not required to include any description of rights, consideration or other terms and conditions
to the extent they do not relate to the StaphVAX Rights or otherwise affect Biotest’s ability to evaluate the offer or exercise its rights pursuant to this Article 3. The right of first refusal in this Article 3 shall not apply to
a transaction between Nabi and a third party involving StaphVAX or StaphVAX IP generally if (a) such third party agrees to offer the StaphVAX Rights to Biotest on commercially reasonable terms and conditions with respect to quantity, quality
and pricing of StaphVAX to be supplied, (b) the transaction involves an assignment of this Agreement that is permitted without Biotest’s consent pursuant to Section 5.4, or (c) StaphVAX has already been commercialized and
StaphVAX is available for purchase by Biotest on commercially reasonable terms and conditions with respect to quantity, quality and pricing of StaphVAX to be supplied and that allow Biotest’s use of purchased StaphVAX in the Field of Use.

 3.2 Exercise Period and Negotiation Period. Biotest will have an option for a period of thirty (30) days after the date of
receipt of such ROFR Notice (the “Exercise Period”) to acquire, license or otherwise obtain rights to the StaphVAX Rights as described in the ROFR Notice, on the terms and conditions described in the ROFR Notice. Biotest may
exercise such option by notifying Nabi in writing before the expiration of such Exercise Period that it wishes to exercise such option on the terms described in the ROFR Notice. Upon Nabi’s receipt of such written notice, the Parties shall
negotiate in good faith for a period not to exceed forty-five (45) days after Nabi’s receipt of notice of exercise of such option from Biotest (the “Negotiation Period”), to finalize the 

 
documentation related to Biotest’s acquisition of such StaphVAX Rights on the terms set forth in the applicable ROFR Notice. Notwithstanding the
foregoing or the other provisions of this Article 3, if the terms and conditions in the ROFR Notice include any term or condition which is specific to the Offeror or is of such a nature that it would be impossible for Biotest to match, then,
as between Nabi and Biotest, such term or condition will be modified in good faith by the parties in order to match as closely as possible the original term or condition as set forth in the ROFR Notice. 
 3.3 Failure to Exercise. If, following the delivery of any ROFR Notice, Nabi does not receive written notice from Biotest of Biotest’s exercise of
such option prior to the expiration of the Exercise Period, or if Nabi and Biotest have not, despite their good faith efforts, entered into a definitive agreement incorporating the terms set forth in the ROFR Notice prior to the expiration of the
Negotiation Period, then Nabi shall be free to enter into any agreement or agreements with respect to the StaphVAX Rights without restriction. 
 ARTICLE 4 
 NO OTHER RESTRICTIONS; NO DILIGENCE OBLIGATION 
 Except as set forth herein with respect to the right of first negotiation described in Article 2 and the right of first refusal described in Article 3,
this Agreement shall not restrict Nabi’s ability to develop, commercialize or pursue StaphVAX or matters related to the StaphVAX IP. Further, Nabi shall have no obligation to develop, commercialize, seek regulatory approvals or pursue StaphVAX
or matters related to the StaphVAX IP. 
 ARTICLE 5 
 MISCELLANEOUS 
 5.1. Notice. All notices or other communications required or permitted to be given
under this Agreement shall be delivered in accordance with the provisions for notice set forth in the Asset Purchase Agreement. 
 5.2. Entire
Agreement. This Agreement and, to the extent specifically referenced in Sections 5.1 and 5.8, the Asset Purchase Agreement, contain the entire agreement and understanding between the Parties hereto with respect to the subject
matter hereof and supersedes all prior agreements and understandings relating to such subject matter. This Agreement may not be amended except by an instrument in writing signed by an authorized representative of each of the Parties hereto.

 5.3. Third Party Beneficiaries. No provision of this Agreement shall be deemed or construed in any way to result in the creation of any
rights in or obligations of any Person not a Party to this Agreement. 
 5.4. Assignment. This Agreement may not be assigned, transferred,
licensed, sublicensed, delegated, pledged or otherwise disposed of (each, an “Assignment”) by any Party hereto without the prior written consent of the other Party, which consent may not be unreasonably withheld, provided,
that (i) either Party may, without the consent of the other Party, assign its rights and obligations 

 
under this Agreement to its affiliates or in connection with any merger, business combination, or sale of all or substantially all of the assets of such
Party or those assets to which this Agreement relates and (ii) no Assignment shall be effective unless and until the proposed assignee shall have assumed in writing all obligations of its assignor under this Agreement and such assumption is
delivered to the other Party. Any purported Assignment without a required consent shall be void. This Agreement shall be binding upon and shall inure to the benefit of the Parties hereto and their respective successors and permitted assigns.

 5.5. Fees and Expenses. Except as is otherwise specified herein, each Party shall bear its own fees and expenses incurred in connection with
the performance of this Agreement and the transactions contemplated hereby. 
 5.6. Interpretation; Construction. In the event of an ambiguity,
or a question of intent or interpretation arises, under this Agreement, the Agreement shall be construed as if drafted jointly by both Parties, and there shall be no presumption or burden of proof favoring or disfavoring any individual Party by
virtue of the authorship of any provisions of this Agreement. 
 5.7. Counterparts; Facsimile Signatures. This Agreement may be executed
manually or by facsimile by the Parties, in any number of counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 
 5.8. Governing Law; Arbitration. This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements made and to be performed entirely within
such State, without regard to the conflicts of law principles of such State. In the event that any dispute arises under this Agreement, the Parties agree to negotiate in good faith to resolve such dispute prior to seeking relief in accordance with
the provision for binding arbitration set forth in the Asset Purchase Agreement. 
 5.9. Certain Representations and Warranties. Nabi hereby
represents and warrants to Biotest that to Nabi’s Knowledge (as such term is defined in the Asset Purchase Agreement) as of the Effective Date the patents identified on Exhibit A are owned by Nabi free and clear of all liens, claims or
encumbrances that would impair the rights granted to Biotest under this Agreement. 
 [SIGNATURE PAGE FOLLOWS] 

 IN WITNESS WHEREOF, the Parties hereto have executed, or caused to be executed, this Right of
First Negotiation/Refusal Agreement as of the date first above written. 
  

			
	SELLER:
	
	NABI BIOPHARMACEUTICALS
		
	By:	 	 /s/ Leslie Hudson, Ph.D.

	Name:	 	Leslie Hudson, Ph.D.
	Title:	 	President and Chief Executive Officer
	
	BUYER:
	
	BIOTEST PHARMACEUTICALS
CORPORATION
		
	By:	 	 /s/ Dr. Michael Ramroth

	Name:	 	Dr. Michael Ramroth
	Title:	 	President

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