Document:

Confidential
        Treatment Requested. Confidential portions of this document have been redacted
        and separately filed with the Commission.

    

    

      

      LICENSE
        AGREEMENT

      

      This
        LICENSE
        AGREEMENT
        (this
“Agreement”),
        effective as of June 2, 2004 (the “Effective
        Date”),
        is
        between CUBIST
        PHARMACEUTICALS, INC.,
        a
        corporation organized and existing under the laws of Delaware (together with
        its
        Affiliates referred to herein as “CUBIST”)
        and
XTL
        BIOPHARMACEUTICALS LTD.,
        a
        corporation organized and existing under the laws of Israel (together with
        its
        Affiliates referred to herein as “XTL”).
        XTL
        and CUBIST are sometimes hereinafter referred to each as a “Party”
        and
        collectively as the “Parties.”

      Background

      

      XTL
        has
        developed monoclonal antibodies that are active against Hepatitis B using
        XTL
        Know-How and has rights to XTL Patent Rights. CUBIST desires to obtain a
        license
        under the XTL Patent Rights and XTL Know-How upon the terms and conditions
        set
        forth herein in order to Obtain Regulatory Approval and commercialize such
        monoclonal antibodies, and XTL desires to grant such a license. In consideration
        of the foregoing premises and the mutual covenants herein contained, the
        Parties
        hereby agree as follows:

      

      Terms

      

      Section
        1. DEFINITIONS.

      

      1.1 Defined
        Terms.
        Unless
        specifically set forth to the contrary herein, the following terms, whether
        used
        in the singular or plural, shall have the respective meanings set forth
        below:

      

      “Additional
        HBV Products”
        shall
        mean any and all compounds, products, methods or systems, other than a Product
        or a Directly Competitive Product, in any formulation for the treatment or
        prevention of Hepatitis B, that is Controlled by XTL as of the Effective
        Date or
        at any time during the term of this Agreement.

      

      “Affiliate”
        shall
        mean, with respect to any Person, (a) any other Person of which fifty percent
        (50%) or more of the securities or other ownership interests representing
        the
        equity, the voting stock or general partnership interest are owned, controlled,
        or held, directly or indirectly by, or under common ownership or control
        with,
        such Person; or (b) any other Person that, directly or indirectly, owns,
        controls, or holds fifty percent (50%) or more of the securities or other
        ownership interests representing the equity, the voting stock or, if applicable,
        the general partnership interest, of such Person. 

      

      “Aggregate
        Designated Costs”
        shall
        have the meaning set forth in Section 7.4.

      

      “Approved
        Third Party Licenses”
        shall
        have the meaning set forth in Section 12.10(c).

      

      “Change
        of Control”
        shall
        mean, with respect to either Party, that a Third Party shall have become
        the
        beneficial owner of securities representing at least fifty percent (50%)
        or more
        of the aggregate voting power of the then outstanding voting securities of
        such
        Party, or any sale by such Party of all or substantially all of such Party’s
        assets; provided
        that in
        no event shall the sale by a Party of securities in connection with a financing
        or offering undertaken to raise working capital be deemed to be a Change
        of
        Control unless, as a result of such financing or offering, a Person owns
        50% or
        more of the voting power of the Party.

      

      “Code”
        shall
        have the meaning set forth in Section 13.6(d).

      

      “Combination
        Product”
        shall
        mean (a) any product, or biologic or pharmaceutical composition comprising,
        among other things, at least two distinct active ingredients, one of which
        shall
        be a Product and at least one of the other active ingredients is not a Product,
        or (b) two or more products, or biologic or pharmaceutical compositions that
        are
        marketed and sold together in the same package, where at least one of such
        products, or biologic or pharmaceutical compositions is a Product and at
        least
        one of the other products, or biologic or pharmaceutical compositions are
        not
        Products (including, without limitation, (i) a pharmaceutical or biologic
        composition containing an active ingredient distinct from the active ingredient
        of such Product, (ii) a delivery device or (iii) a delivery system).

      

      “Commercialize”
        shall
        mean all activities relating to the commercialization of a Product including,
        without limitation, promotion, marketing, sales and distribution, whether
        conducted by a Party or for such Party by another, and “Commercialization”
        shall
        be interpreted accordingly.

      

      
        
           

        

        
          1

          
            

          

        

        
           

        

         

      

      “Commercially
        Reasonable Efforts”
        means
        (a) with respect to any objective by any Party, commercially reasonable,
        diligent, good faith efforts to accomplish such objective as such Party would
        normally use to accomplish a similar objective under similar circumstances;
        and
        (b) with respect to any CUBIST objective to Obtain Regulatory Approval of
        or
        Commercialize any Product, efforts and resources normally used by such Party
        with respect to a product owned by such Party or to which such Party has
        similar
        rights which is of similar market potential at a similar stage in the
        development or life of such product, taking into account all relevant factors
        in
        all relevant jurisdictions, taken as a whole, including, but not limited
        to,
        issues of safety, efficacy, product profile, the competitiveness of the
        marketplace, the proprietary position of the product (including whether the
        Product is reasonably likely to infringe the intellectual property or other
        proprietary rights of a Third Party in any jurisdiction), the regulatory
        structure involved and the Regulatory Approval for the Product in each
        jurisdiction (including but not limited to, the extent of the indications
        for
        such Product has been approved), the level of reimbursement available for
        the
        Product in each jurisdiction, and the perceived market potential of the Product
        (including the anticipated profitability of the Product). 

      

      “Consent
        Agreement”
        shall
        mean that certain Consent and Amendment Agreement by and among CUBIST, XTL,
        and
        Yeda executed on or about the Effective Date.

      

      “Contract
        Year”
        shall
        mean each twelve month period during the term of this Agreement commencing
        on
        January 1, and ending on December 31; provided
        that the
        first Contract Year during the term of this Agreement will commence on the
        Effective Date and end on December 31 and the last Contract Year during the
        term
        of this Agreement will commence on January 1 and end upon expiration or
        termination of this Agreement.

      

      “Control”
        shall
        mean with respect to (a) any item of information or (b) any intellectual
        property right or (c) any HBV Antibody (including any intellectual property
        or
        other proprietary right embodied therein or related thereto, including without
        limitation any method or process of manufacturing thereof or any use thereof),
        the possession of the right (whether directly or indirectly and whether by
        ownership, license or otherwise, other than pursuant to this Agreement) by
        a
        Party to grant to the other Party access or a license as provided in this
        Agreement under such item of information or intellectual property right without
        violating the terms of any agreement or other arrangements existing before
        or
        after the Effective Date between such Party and any Third Party, and the
        term
“Controlled”
        shall be
        interpreted accordingly.

      

      “Coordinator”
        shall
        have the meaning set forth in Section 3.2.

      

      “CUBIST
        Designated Costs”
        shall
        mean, with respect to any period, the Designated Costs attributed to
        CUBIST.

      

      “CUBIST
        Indemnitees”
        shall
        have the meaning set forth in Section 11.3(b).

      

      “CUBIST
        Inventions”
        shall
        have the meaning set forth in Section 12.1.

      

      “CUBIST
        Know-How”
        shall
        mean all inventions (including without limitation all CUBIST Inventions),
        discoveries, improvements, methods, processes, formulas, materials, data,
        know-how, technology, trade secrets and information, whether or not patentable,
        that (a) are owned or Controlled by CUBIST as of the Effective Date or at
        any
        time during the term of this Agreement, (b) are not, as of the Effective
        Date or
        at any time thereafter, in the public domain or generally known or available
        to
        the public or disclosed in any CUBIST Patents, and (c) are necessary or useful
        to Obtain Regulatory Approval, manufacture, market, promote, sell, import
        or
        export Products in the Territory.

      

      “CUBIST
        Patents”
        shall
        mean any and all Patents that: (a) are owned or Controlled by CUBIST as of
        the
        Effective Date or at any time during the term of this Agreement; and (b)
        claim
        or cover any invention (including, without limitation, any CUBIST Invention),
        discovery, improvement, method, process, formula, material, trade secret,
        technology, data or information, solely to the extent necessary or useful
        to
        Obtain Regulatory Approval, manufacture, market, promote, sell, import or
        export
        Products in the Territory; provided,
        however, that the CUBIST Patents are all to the extent and only to the extent
        that CUBIST has the right to grant licenses or sublicenses
        thereunder.

      

      “CUBIST
        Trademark”
        shall
        mean any Trademark Controlled by CUBIST.

      
        
           

        

        
          2

          
            

          

        

        
           

          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      

      “Designated
        Costs”
        shall
        mean the direct costs and expenses, in Dollars, excluding any general and
        administrative
        overhead costs and expenses, actually incurred from and after the Effective
        Date
        in performing those activities that are necessary or advisable to Obtain
        Regulatory Approval for a commercially viable formulation of HepeX-B for
        the
        prevention of recurrent Hepatitis B infections in liver transplant patients
        in
        the Territory. Subject to the foregoing provisions of this definition,
        Designated Costs shall include: internal human resources costs of either
        Party
        (calculated using actual local salary and employee benefit rates for
        each
        Full Time Equivalent), expenses paid to contractors, consultants or other
        third
        parties (such as testing laboratories, clinical consultants, clinical research
        organizations, contract manufacturing organizations and preclinical
        laboratories), including costs and expenses associated with regulatory fees
        (such as PDUFA fees), laboratory supplies, office supplies, travel expenses,
        and
        reasonable allocations of facility and information technology costs. Designated
        Costs shall not include expenses for corporate overhead, profit margin, expenses
        for market research, manufacture or supply for commercial use, commercial
        launch
        and other Commercialization activities, post-marketing studies not required
        as a
        condition to Obtaining Regulatory Approval in the Territory, or participation
        on
        the Joint Alliance Team. If the Parties are unable to agree whether a particular
        cost or expense is a Designated Cost, either Party may submit the matter
        to the
        dispute resolution procedures set forth in Section 14.

      

      “Directly
        Competitive Product”
        shall
        mean any pharmaceutical or biologic composition (other than a Product
        Commercialized by or for CUBIST or its Affiliates or Sublicensees) that contains
        an HBV Antibody in any formulation for the treatment or prevention of Hepatitis
        B.

      

      “Disagreement
        Notice”
        shall
        have the meaning ascribed to it in Section 2.2.

      

      “Dollars”
        shall
        mean U.S. dollars.

      

      “ECACC”
        shall
        mean the European Collection of Cell Cultures.

      

      “FDA”
        shall
        mean the United States Food and Drug Administration and any successor
        agency.

      

      “First
        Commercial Sale”
        shall
        mean, with respect to a Product, any transfer for value in an arm’s-length
        transaction to a Third Party distributor, agent or end user in a country
        or
        jurisdiction after obtaining all necessary Regulatory Approvals as may be
        necessary for such transfer in such country or jurisdiction.

      

      “HBIg”
        shall
        mean the immunoglobulin product containing polyclonal antibodies (derived
        from
        human plasma) to hepatitis B surface antigen, and occasionally referred to
        as
“HBIg”.

      

      “HBV
        Antibody”shall
        mean any and all human or humanized monoclonal immunoglobulins, including
        intact
        immunoglobulin molecules and any portion or fragment of an immunoglobulin
        molecule, *****, that is directed to and binds to the Hepatitis B virus or
        any
        portion of the Hepatitis B virus.

      

      “HepeX-B”
        shall
        mean, without regard to the actual trade name used, any Product containing
        the
        human monoclonal antibody *****,
        and the
        human monoclonal antibody *****,
        and no
        other antibodies or fragments of other antibodies.

      

      “HepeX-B
        Plan”
        shall
        have the meaning set forth in Section 5.2.

      

      “ICC”
        shall
        have the meaning set forth in Section 14.2(a).

      

      “ICC
        Rules”
        shall
        have the meaning set forth in Section 14.2(a).

      

      “IND”
        shall
        mean an Investigational New Drug Application, or its foreign equivalent,
        regarding Product filed with a Regulatory Authority.

      

      “Joint
        Alliance Team”
        shall
        have the meaning set forth in Section 3.1.

      

      “Joint
        Invention”
        shall
        have the meaning set forth in Section 12.1.

      

      “Joint
        Patent”
        shall
        have the meaning set forth in Section 12.2.

      

      
        
           

        

        
          3

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      “Know-How
        Royalty Rate”
        shall
        have the meaning set forth in Section 10.2.

      

      “Legal
        Opinion”
        shall
        mean a legal opinion that satisfies each of the following conditions: (a)
        is
        addressed to CUBIST for CUBIST’s benefit, (b) provides that CUBIST’s exercise of
        its rights and licenses under, and its activities under and pursuant to,
        this
        Agreement, to Obtain Regulatory Approval, make, have made, use, promote,
        market,
        sell, have sold, offer to sell, import, export, and Commercialize HepeX-B,
        would
        not infringe or misappropriate the intellectual property rights addressed
        in
        that opinion (including by literal infringement and infringement under the
        doctrine of equivalents and/or other applicable legal standards), or that
        such
        intellectual property rights are invalid or unenforceable, (c) is provided
        by a
        nationally recognized United States law firm reasonably acceptable to both
        Parties, and (d) was obtained in connection with a joint defense agreement
        pursuant to which such nationally recognized law firm enters into an
        attorney-client relationship with both XTL and CUBIST for the purpose of
        providing such legal opinion.

      

      “Losses”
        shall
        have the meaning set forth in Section 11.3(a).

      

      “Marketing
        Inquiry”
        shall
        have the meaning ascribed to it in Section 2.2.

      

      “Major
        Markets” shall
        mean the United States of America, the United Kingdom, Spain, Italy, France,
        Germany and Japan.

      

      “Milestone
        Event”
        shall
        have the meaning set forth in Section 9.2(a).

      

      “Net
        Sales”
        shall
        mean the aggregate gross sales *****
        by
        CUBIST from sales of a Product sold directly by CUBIST or its Affiliate to
        a
        Third Party (that is not an Affiliate or Sublicensee of CUBIST unless the
        Affiliate or Sublicensee is the end user of the Product) after deducting,
        if not
        previously deducted, from the amount received the following amounts related
        specifically to such sales and not otherwise recovered or reimbursed to CUBIST
        or its Affiliate: (a) trade and quantity discounts in amounts customary in
        the
        trade and actually allowed and taken; (b) returns, rebates, credits and
        allowances in amounts customary in the trade; (c) chargebacks paid on sale
        or
        dispensing of Product; and (d) sales or excise taxes, freight, postage,
        transportation, insurance charges, custom duties and other governmental charges.
        

      

      For
        purposes of clarification, sales of a Product sold directly by a Sublicensee
        shall not be included in the calculation of Net Sales, and amounts
        received by CUBIST and its Affiliates for the sale of Products among CUBIST
        and
        its Affiliates for resale shall not be included in the computation of Net
        Sales
        hereunder.

      

      In
        the
        event that a Product is sold as a component of a Combination Product, then
        Net
        Sales shall be determined by multiplying the Net Sales of the Combination
        Product by the fraction A/(A+B) where A
        equals
        the
        average selling price of such Product sold separately in finished form and
        B
        equals
        the
        aggregate average selling price of the relevant other product sold separately
        in
        finished form, in
        each case
        in the
        relevant country in which sales were made. In the event that no separate
        sale of
        either Product or the relevant other product is made during the applicable
        royalty reporting period and in the relevant country in which the sale of
        the
        Combination Product was made, then Net Sales shall be determined by multiplying
        the Net Sales of the Combination Product by a fraction (C/(C+D)), where
C
        equals
        CUBIST’s
        standard fully-absorbed cost of Product and D
        equals
        the
        standard fully-absorbed cost of the relevant other product, in
        each case
        determined in accordance with United States generally accepted accounting
        principles for the relevant country in which sales were made. If the relevant
        other product is sold separately in finished form and Product is not, then
        Net
        Sales shall be determined by multiplying the Net Sales of the Combination
        Product by the fraction (E - B)/E, where E
        equals
        the
        average selling price of the Combination Product for the country in which
        sales
        were made.

      

      “Obtain
        Regulatory Approval”
        shall
        mean those actions required or advisable to prepare and submit commercially
        viable Products for Regulatory Approval as soon as reasonably practicable,
        including without limitation formulation, modification and refinement
        activities, determination of dosage, conducting clinical trials, and labeling
        the Products.

      

      “OCS”
        shall
        have the meaning set forth in Section 11.2(h).

      

      “OCS
        Technology”
        shall
        have the meaning set forth in Section 12.1.

      “Patent
        Royalty Rate”
        shall
        have the meaning set forth in Section 10.1.

      

      
        
           

        

        
          4

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      “Patents”
        shall
        mean (a) unexpired letters patent (including inventor’s certificates) which have
        not been revoked or cancelled by a government agency or held invalid or
        unenforceable by a court of competent jurisdiction, from which no appeal
        can be
        taken or has been taken within the required time period, including without
        limitation any substitution, extension, registration, confirmation, reissue,
        re-examination, renewal or any like filing thereof; (b) pending applications
        for
        letters patent, including without limitation any provisional application,
        utility application, continuing prosecution or continuation application,
        divisional application, reissue application and/or continuation in part thereof
        and (c) any foreign or international equivalents or counterparts of such
        unexpired letters patent and pending applications for letters
        patent.

      

      “Person”
        shall
        mean any individual, entity, association, corporation, partnership, limited
        liability company, government (or agency or subdivision thereof), trust,
        joint
        venture, or proprietorship. 

      

      “Product(s)”
        shall
        mean any or all pharmaceutical or biological composition(s) containing an
        HBV
        Antibody Controlled by XTL as of the Effective Date or any time thereafter
        during the term of this Agreement, alone or in combination with another
        antibody, antibody fragment or other active compound, for all indications,
        in
        any formulation, by any route of administration, including without limitation,
        HepeX-B. Each distinct formulation of any of the items referred to in the
        foregoing sentence shall be treated as a separate Product.

      

      “Proprietary
        Information”
        shall
        mean all inventions, discoveries, improvements, processes, formulas, materials,
        know-how and trade secrets, and all other scientific, clinical, regulatory,
        marketing, financial and commercial information or data, whether communicated
        in
        writing or orally or by sensory detection, which is provided by, or on behalf
        of, one Party to the other Party in connection with this Agreement.

      

      “Recalculated
        Royalties”
        shall
        have the meaning set forth in Section 10.1.

      

      “Regulatory
        Approval”
        shall
        mean any approvals (including supplements, variations, amendments, pre- and
        post-approvals), licenses, registrations or authorizations of any national,
        state or local regulatory agency, department, bureau, commission, council
        or
        other governmental entity, necessary for the sale, import or Commercialization
        of Products in the Territory.

      

      “Regulatory
        Authority” shall
        mean the FDA or any foreign counterpart of the FDA, as applicable.

      

      “Retroactive
        Payment Quarter”
        shall
        have the meaning set forth in Section 10.1.

      

      “Retroactive
        Royalty Country”
        shall
        have the meaning set forth in Section 10.1.

      

      “Retroactive
        Royalty Year”
        shall
        have the meaning set forth in Section 10.1.

      

      “Retroactive
        Valid Claim”
        shall
        have the meaning set forth in the definition of Valid Claim.

      

      “Sublicensee”
        shall
        mean, without derogating from the Consent Agreement, any Person (other than
        an
        Affiliate of CUBIST) to whom CUBIST
        grants a
        sublicense to the license rights granted by XTL to CUBIST
        hereunder.

      

      “Sublicensee
        Revenues”
        shall
        mean the aggregate upfront, milestone, royalty and other payments actually
        received by CUBIST or its Affiliates from each of its Sublicensees (other
        than
        XTL, if applicable) with respect to XTL Technology or Products, excluding
        payments made to reimburse CUBIST for any verifiable costs actually incurred
        by
        CUBIST in connection with (a) activities to Obtain Regulatory Approval,
        manufacture, market, promote, sell, offer to sell, import or export Product
        and
        (b) the transaction contemplated between CUBIST and such
        Sublicensee.

      

      “Territory”
        shall
        mean all countries of the world.

      

      “Third
        Party” shall
        mean a Person other than CUBIST or XTL or an Affiliate of either
        Party.

      

      “Third
        Party Infringement Claim”
        shall
        have the meaning set forth in Section 12.6(a).

      

      “Third
        Party Transaction”
        shall
        have the meaning set forth in Section 2.3.

      

      
        
           

        

        
          5

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      “TM
        Infringement”
        shall
        have the meaning set forth in Section 12.5.

      

      "Trademark"
        shall
        mean any word, phrase, slogan, design, symbol or product packaging used or
        intended to be used to identify the Products or distinguish them from
        competitive or related products, and shall include any application to register
        or registration of or common law rights of the foregoing.

      

      “Unlicensed
        Product”
        shall
        mean, with respect to any given country or jurisdiction within the Territory,
        any pharmaceutical or biological composition containing an HBV Antibody (except
        for HBIg), for sale or use for the treatment or prevention of Hepatitis B
        infection or re-infection in such country within the Territory, other
        than
        as a result of any license, sublicense, distribution or
        other arrangement
        with respect to a Product or the rights or licensees granted by XTL to CUBIST
        hereunder granted or entered into by CUBIST or any of its Affiliates or
        distributors.

      

      “Valid
        Claim”
        shall
        mean an unexpired claim of an issued patent within XTL Patents which has
        not
        been found to be invalid or unenforceable by a court or other competent
        authority in the subject country, from which decision no appeal is taken
        or can
        be taken. In the event a claim in a pending patent application Controlled
        by XTL
        issues in a country and such issued claim has not been found to be invalid
        or
        unenforceable by a court or other competent authority in the subject country,
        from which decision no appeal is taken or can be taken, such claim shall
        retroactively be deemed a Valid Claim in such country for the purposes of
        royalty and Sublicensee Revenues payments under Section 10.1(b) and Section
        10.3(e) as of the date the applicable patent application was filed in such
        country (a “Retroactive
        Valid Claim”).

      

      “XTL
        Activities”
        shall
        have the meaning set forth in Section 5.1(b).

      

      “XTL
        Designated Costs”
        shall
        mean, with respect to any period, the Designated Costs attributed to
        XTL.

      

      “XTL
        Indemnitees”
        shall
        have the meaning set forth in Section 11.3(a).

      

      “XTL
        Inventions”
        shall
        have the meaning set forth in Section 12.1.

      

      “XTL
        Know-How”
        shall
        mean all inventions (including without limitation all XTL Inventions),
        discoveries, improvements, methods, processes, formulas, materials, data,
        know-how, technology, trade secrets and information, whether or not patentable,
        that (a) are owned or Controlled by XTL as of the Effective Date or at any
        time
        during the term of this Agreement, (b) are not, as of the Effective Date
        or at
        any time thereafter, in the public domain or generally known or available
        to the
        public or disclosed in any XTL Patents, and (c) are necessary or reasonably
        useful to Obtain Regulatory Approval, manufacture, market, promote, sell,
        import
        or export Products in the Territory. 

      

      “XTL
        Licensor Payments”
        shall
        mean any amounts that are required to be paid to Yeda pursuant to the XY
        Agreement as supplemented by the Consent Agreement, or any amounts that XTL
        is
        required to pay to any other Third Party licensors pursuant to written
        agreements entered into prior to the Effective Date which are identified
        on
Exhibit
        E
        to the
        extent that such payments are required (a) with respect to sales of Product,
        or
        (b) with respect to milestone or royalty payments that XTL receives, or is
        deemed to have received under XTL’s agreements with such Third Parties, from
        CUBIST.

      

      “XTL
        Patents”
        shall
        mean any and all Patents that: (a) are owned or Controlled by XTL as of the
        Effective Date or at any time during the term of this Agreement; and (b)
        claim
        or cover any invention (including, without limitation, any XTL Invention),
        discovery, improvement, method, process, formula, material, trade secret,
        technology, data or information, solely to the extent necessary or reasonably
        useful to Obtain Regulatory Approval, manufacture, market, promote, sell,
        import
        or export Products in the Territory (including, without limitation, those
        Patents listed on Exhibit
        A);
        provided,
        however, that the XTL Patents are all to the extent and only to the extent
        that
        XTL has the right to grant licenses or sublicenses thereunder.

      

      “XTL
        Technology”
        shall
        mean XTL Patents and XTL Know-How.

      

      “XTL
        Trademarks”
        shall
        mean the trademarks Controlled by XTL as of the Effective Date and set forth
        on
Exhibit
        B
        hereto.

      
        
           

        

        
          6

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      

      “XY
        Agreement”
        shall
        mean that certain Research and License Agreement between Xenograft Technologies
        Ltd. (now known as XTL Biopharmaceuticals Ltd.) and Yeda Research and
        Development Company Ltd. (hereinafter “Yeda”)
        executed on or about April 7, 1993, as amended on or about August 31, 1995,
        January 25, 1998, and January 26, 2003 and as further amended as of the
        Effective Date.

      

      “Yeda
        Technology”
        shall
        have the meaning set forth in Section 12.1.

      

      Section
        2. LICENSE;
        DILIGENCE; RIGHT OF FIRST NEGOTIATION.

      

      2.1 License
        Grant.
        Subject
        to the terms and conditions of this Agreement and the provisions of the Consent
        Agreement, XTL hereby grants to CUBIST the
        exclusive right and license (even as to XTL), including the right, subject
        to
        the Consent Agreement, to sublicense (which includes the sublicense to XTL
        under
        Section 2.5 below), under the XTL Technology and XTL Trademarks to Obtain
        Regulatory Approval, make, have made (including under Section 3.3 below),
        use,
        promote, market, sell, have sold, offer to sell, import or export Products
        in
        the Territory. CUBIST (excluding Cubist Affiliates) may grant sublicenses
        of the
        rights licensed to CUBIST pursuant to this Section 2.1 (subject to the
        limitations and obligations imposed pursuant to the Consent Agreement). Any
        sublicense by CUBIST to a Sublicensee of the rights licensed by XTL to CUBIST
        hereunder shall be consistent with the terms and conditions of this Agreement
        and the Consent Agreement, and shall include an obligation for the Sublicensee
        to comply with the obligations of this Agreement applicable to Sublicensees,
        including, without limitation, the applicable obligations contained in Section
        4.1(b) pertaining to reports, Section 8.1 pertaining to confidentiality and
        Section 8.5 pertaining to records and audits. CUBIST hereby agrees to remain
        liable for performance under this Agreement by all Sublicensees (including
        CUBIST Affiliates).

      

      2.2 CUBIST
        Diligence. (a)
        Subject
        to, and in accordance with, the terms and conditions of this Agreement and
        all
        requirements of applicable laws, rules and regulations, CUBIST shall use
        Commercially Reasonable Efforts to Obtain Regulatory Approval for HepeX-B
        in
        each of the Major Markets, and subsequent to obtaining Regulatory Approval
        in a
        Major Market, to Commercialize HepeX-B in such Major Market. The sole remedy
        of
        XTL for any breach by CUBIST of its obligations under this Section 2.2 with
        respect to any Major Market is to terminate CUBIST’s rights and licenses under
        this Agreement with respect to such Major Market pursuant to Section 13.4.
        In
        the event CUBIST breaches its obligations under Section 2.2 with respect
        to
        ***** or more Major Market countries, XTL shall also have the right pursuant
        to
        Section 13.4 to terminate CUBIST’s rights and licenses under this Agreement with
        respect to each country that is not a Major Market country in which CUBIST
        is
        not then using Commercially Reasonable Efforts to Obtain Regulatory Approval
        for
        HepeX-B, and subsequent to obtaining Regulatory Approval in such country,
        to
        Commercialize HepeX-B in such country. For the avoidance of doubt, CUBIST
        shall
        not be considered to be in violation of its diligence obligations under this
        Section 2.2 if the failure to use Commercially Reasonable Efforts as required
        under this Section 2.2 is caused in material part by the wrongful acts or
        omissions of XTL or any breach of this Agreement by XTL.

      (b) CUBIST
        shall be deemed to have used Commercially Reasonable Efforts for all purposes
        of
        this Section 2.2 at all times following such time as CUBIST (and its Affiliates
        and Sublicensees) has achieved worldwide Net Sales and Sublicensee Revenues
        which, combined, exceed the aggregate amount of $50,000,000. Notwithstanding
        anything to the contrary in this Agreement, the “safe harbor” provisions of this
        Section 2.2(b) are not intended to set minimum standards of performance by
        CUBIST, and CUBIST shall be entitled to demonstrate that other efforts with
        respect to the Product should be deemed to be Commercially Reasonable
        Efforts.

      

      (c) As
        set
        forth in Section 2.2(a), the parties agree that XTL’s sole and exclusive remedy
        with respect to a material breach by CUBIST of its obligations set forth
        in
        Section 2.2(a) shall be to terminate the rights and licenses granted by XTL
        to
        CUBIST under this Agreement with respect to those jurisdictions within the
        Territory in which CUBIST shall have failed to use Commercially Reasonable
        Efforts; provided
        that
        within sixty (60) days after receipt of any report provided by CUBIST under
        Section 4.1(b), XTL shall have delivered to CUBIST written notice (a
“Disagreement
        Notice”)
        of
        such failure, which notice shall set forth in reasonable detail the nature
        of
        the alleged failure; provided
        further
        that such failure has not been cured or waived within 60 calendar days following
        delivery of such notice. If XTL does not deliver a Disagreement Notice under
        this Section 2.2(c) within such sixty (60) day period, CUBIST shall
        be
        deemed to be in full compliance with the terms of Section 2.2(a) with
        respect to the time period covered by such CUBIST report. XTL shall not bring,
        commence, continue or prosecute any claim, legal action or proceeding under,
        in
        relation to, arising out of or in connection with a breach of Section 2.2(a),
        except as set forth in Section 2.2(d). 

       

      
        
           

        

        
          7

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      (d) If
        XTL
        and CUBIST are not able to resolve their disagreement with respect to CUBIST’s
        compliance with Section 2.2(a) within sixty (60) days after CUBIST’s
        receipt of a Disagreement Notice, then either XTL or CUBIST, acting alone,
        may
        at any time following receipt of such Disagreement Notice by delivery to
        the
        other party of a written notice indicating such party’s election to have the
        disagreement resolved by arbitration (a “Marketing
        Inquiry”),
        cause
        the matter to be submitted to binding arbitration under Section 14.2;
provided
        that (i)
        the
        arbitrators shall be entitled to review and resolve only whether or not CUBIST
        failed to materially comply with its obligations under Section 2.2(a) during
        the
        applicable reporting period of time that is the subject of the Marketing
        Inquiry, and (ii) the arbitrators shall be individuals who are knowledgeable
        in
        the field of the development, manufacture, and sale of drugs and drug products,
        and shall have no current or prior business relationships with any of XTL,
        CUBIST, or any of their respective Affiliates.

       

      2.3 Rights
        to Additional HBV Product.
        Subject
        to the limitation set forth below in this Section 2.3, in the event that
        XTL
        intends to grant a license or sublicense (or to otherwise transfer rights
        other
        than pursuant to a Change of Control of XTL) to a Third Party to obtain
        regulatory approval or commercialize Additional HBV Products (a "Third
        Party Transaction"),
        XTL
        shall so notify CUBIST (and shall provide together with such notice all such
        information necessary or useful to CUBIST to determine whether to exercise
        its
        rights under this Section 2.3 with respect to the Additional HBV Products
        as is
        in XTL’s possession or control) prior to entering into negotiations or
        discussions with such Third Party Transaction. If, within *****
        days
        after CUBIST has received such notice (and information) from XTL, CUBIST
        notifies XTL in writing that it wishes to negotiate to obtain a license or
        sublicense (or otherwise acquire rights to) such Additional HBV Products,
        then
        the Parties shall negotiate in good faith for a period of *****
        days to
        see if the Parties can reach agreement on commercially reasonable terms pursuant
        to which XTL would license or sublicense (or otherwise transfer rights to)
        such
        Additional HBV Products to CUBIST. During the *****
        day
        period in which CUBIST and XTL are negotiating pursuant to this Section 2.3,
        such negotiations shall be exclusive and XTL cannot carry on discussions
        or
        negotiations with any Third Party regarding the grant of a license or sublicense
        (or other transfer of rights) to such Third Party to obtain regulatory approval
        or commercialize Additional HBV Products in any country or jurisdiction within
        the Territory. If XTL and CUBIST cannot reach agreement on such terms within
        such *****
        days,
        then XTL shall be free to enter into negotiations and discussions with such
        Third Party, and enter into a Third Party Transaction; provided,
        however, in no event will XTL enter into an agreement with such Third Party
        to
        obtain regulatory approval or commercialize such Additional HBV Products
        on
        terms, considered in the totality of the circumstances, any less favorable
        than
        the terms last offered or proposed by CUBIST pursuant to the preceding
        provisions of this Section 2.3 without providing CUBIST with written notice
        of
        such terms and giving CUBIST *****
        days to
        accept them. Notwithstanding anything expressed or implied in the foregoing
        provisions of this Section 2.3, in the event of a Change of Control of XTL,
        CUBIST’s rights under this Section 2.3 shall terminate with respect to any
        Additional HBV Product of which CUBIST was informed by XTL in writing pursuant
        to Section 15.4 (without copies to legal counsel) at least thirty (30) days
        prior to the Change of Control of XTL; provided
        that if
        CUBIST notifies XTL in writing that it wishes to negotiate to obtain a license
        or sublicense (or otherwise acquire rights to) such Additional HBV Product
        within *****
        days
        after XTL informed CUBIST of such Additional HBV Product, CUBIST’s rights under
        this Section 2.3 shall not terminate with respect to such Additional HBV
        Product
        unless and until XTL has negotiated in good faith for a period of up to
*****
        days and
        has failed to reach agreement on commercially reasonable terms pursuant to
        which
        XTL would license or sublicense (or otherwise transfer rights to) such
        Additional HBV Product to CUBIST.

      

      2.4 Directly
        Competitive Product.
        During
        the term of this Agreement and until the earlier to occur of (a) the first
        anniversary of the effective date of expiration or termination of this Agreement
        in its entirety, and (b) the effective date of *****;
        XTL
        shall not develop, research, market, sell, distribute or otherwise Commercialize
        a Directly Competitive Product in the Territory, nor will XTL provide any
        services, data or information to any Third Party in the furtherance of, or
        with
        respect to, any of the foregoing; provided,
        however, that the restrictions in this Section 2.4 shall not apply in any
        jurisdictions with respect to which Cubist’s rights and licenses granted by XTL
        under this Agreement have been terminated pursuant to Section 2.2.

      

      2.5 Sublicensing. (a)
        If
        CUBIST proposes to sublicense to a Third Party any rights to distribute promote,
        market or sell Product in the United States and/or in more than *****
        Major
        Markets in the European Union, then CUBIST will notify XTL in writing thereof.
        If, within *****
        days
        after XTL has received such notice from XTL, XTL notifies CUBIST in writing
        that
        it wishes to negotiate to become CUBIST’s Sublicensee with respect to the
        activities to distribute, promote, market or sell Product described in CUBIST’s
        notice with respect to such countries, then the Parties shall negotiate in
        good
        faith for a period of *****
        days to
        see if the Parties can reach agreement on commercially reasonable terms pursuant
        to which XTL would serve as such Sublicensee. During the *****
        day
        period in which CUBIST and XTL are negotiating pursuant to this Section 2.5,
        such negotiations shall be exclusive and CUBIST cannot carry on discussions
        or
        negotiations with any Third Party regarding the opportunity to serve as such
        Sublicensee in such countries. If XTL and CUBIST cannot reach agreement on
        such
        terms within such *****
        days,
        then CUBIST shall be free to enter into negotiations and discussions with
        such
        Third Party, and grant such a sublicense to such Third Party; provided,
        however, in no event will CUBIST grant such a sublicense to such Third Party
        on
        terms, considered in the totality of the circumstances, any less favorable
        to
        CUBIST than the terms last offered or proposed by XTL pursuant to the preceding
        provisions of this Section 2.5 without providing XTL with written notice
        of such
        terms and giving XTL *****
        days to
        accept them. 

      

      
        
           

        

        
          8

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      (b) Without
        limiting clause (a) above, if CUBIST proposes to sublicense to a Third Party
        any
        rights to distribute promote, market, and sell Product *****,
        then
        CUBIST will notify XTL in writing thereof and thereafter, XTL, to the extent
        that it remains so interested, shall be included among the interested parties
        with whom CUBIST holds discussions for such rights until such time as CUBIST
        selects the party with whom it wishes to enter into negotiations for a
        definitive agreement for such rights. XTL acknowledges that beyond inclusion
        and
        participation in the discussions for such rights, XTL has no additional right
        or
        expectation whatsoever, and CUBIST has no additional obligation to XTL in
        respect of such rights under this Section 2.5(b).

      

      (c) Notwithstanding
        anything expressed or implied in this Section 2.5, in the event of a Change
        of
        Control of CUBIST, XTL’s rights under this Section 2.5 shall terminate
        (except
        with respect to any separate written agreement entered into between CUBIST
        and
        XTL prior to the effective date of such Change of Control;
        provided
        that
        CUBIST has promptly complied with the notice provisions set forth in this
        Section 2.5 prior to such Change of Control).

      

      2.6 Trademarks.
        XTL
        hereby grants CUBIST an exclusive, royalty-free license under its entire
        right,
        title and interest in and to the XTL Trademarks, if any, to use and display
        the
        XTL Trademarks in connection with the Commercialization of Product within
        the
        Territory. CUBIST shall not be obligated to use XTL Trademarks, and shall
        be
        free to select, create and use its own trade names and marks for its use,
        in
        connection with the Commercialization of Product in the Territory.

      

      Section
        3. COORDINATION.

      

      3.1 Joint
        Alliance Team.

      

      (a)   Within
        thirty (30) days after the Effective Date, CUBIST and XTL shall establish
        a
        committee to exchange information regarding, and to discuss activities to
        Obtain
        Regulatory Approval and manufacture and supply of Product in the Territory
        (the
“Joint
        Alliance Team”),
        which
        shall (i) monitor activities to Obtain Regulatory Approval under the
        HepeX-B Plan, (ii) discuss, formulate, and recommend proposed modifications
        to
        the HepeX-B Plan for review by CUBIST and XTL, (iii) serve as a forum for
        the
        review and discussion of the Parties’ efforts to Obtain Regulatory Approval and
        efforts to manufacture Product, (iv) serve as a vehicle to facilitate the
        transfer to CUBIST of certain information, data and technology related to
        Products, and (v) serve as a forum for the discussion of disputes between
        the
        Parties before resorting to the dispute resolution mechanism in Section 14
        of
        this Agreement.

      

      (b)   The
        Joint
        Alliance Team shall be composed of named representatives of CUBIST and named
        representatives of XTL. Each Party shall appoint its respective representatives
        to the Joint Alliance Team from time to time, and may substitute one or more
        of
        its representatives, in its sole discretion, effective upon notice to the
        other
        Party of such change. Of the initial representatives to be designated by
        each
        Party, there shall be expertise in preclinical development, process development,
        regulatory activities, clinical development, and manufacturing and supply
        matters. The Parties shall be free to change their representatives from time
        to
        time and at any time. Each representative serving on the Joint Alliance Team
        shall have appropriate technical credentials, experience and knowledge, and
        ongoing familiarity in the specific area of such representative’s expertise. The
        chief business officer, or his/her designee, of each Party shall serve as
        co-chair to the Joint Alliance Team. Additional representatives or consultants
        may from time to time, by mutual consent of the Parties, be invited to attend
        Joint Alliance Team meetings, subject to compliance with the provisions of
        Section 8.1 of this Agreement. The co-chairpersons shall be responsible for
        calling meetings, preparing and circulating an agenda in advance of each
        meeting, and preparing and issuing minutes of each meeting within thirty
        (30)
        days thereafter.

       

      
        
           

        

        
          9

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      (c)   The
        Joint
        Alliance Team shall hold meetings at such times as it elects to do so, but
        in no
        event shall such meetings be held less frequently than once every three
        (3) months unless otherwise agreed by the Parties. The first meeting of the
        Joint Alliance Team shall be held no later than sixty (60) days after the
        Effective Date. Meetings of the Joint Alliance Team may be held by audio
        or
        video teleconference with the consent of each Party; provided
        that at
        least two (2) meetings per year shall be held in person, one (1) per year
        at the
        location of each party or such other location as the Parties may mutually
        agree.
        Each Party shall be responsible for all of its own expenses of participating
        in
        the Joint Alliance Team. The co-chairpersons will alternate responsibility
        for
        preparing minutes of each meeting of the Joint Alliance Team, which minutes
        will
        not be finalized until the co-chairperson that did not prepare such minutes
        reviews and confirms the accuracy of such minutes in writing.

      

      (d) The
        Joint
        Alliance Team shall operate by consensus. If the Joint Alliance Team is unable
        to reach consensus on any particular issue, CUBIST shall have the right in
        its
        sole discretion to make the final decision. The Joint Alliance Team shall
        not
        have the power resolve any disputes concerning the validity, interpretation
        or
        construction of, or the compliance with or breach of, this Agreement, which
        disputes shall be resolved pursuant to Section 14. The rights and
        responsibilities of each Party shall be governed by this Agreement, including
        the exhibits hereto, and the Joint Alliance Team shall not have any power
        to
        amend, modify or waive compliance with this Agreement.

      

      (e) Notwithstanding
        anything express or implied to the contrary in this Agreement, CUBIST may
        terminate the Joint Alliance Team and its functions hereunder, in whole or
        in
        part, in its sole discretion upon thirty (30) days’ prior written notice to XTL.
        Upon termination of the Joint Alliance Team, CUBIST shall assume sole
        responsibility to update the HepeX-B Plan from time to time in accordance
        with
        Section 5.2.

      

      3.2   Coordinators.  Each
        Party shall appoint a designee (a “Coordinator”)
        to
        coordinate its activities under this Agreement. The Coordinators shall serve
        as
        primary contacts between the Parties with respect to this Agreement. Each
        Party
        shall notify the other Party within thirty (30) days of the date of this
        Agreement of the appointment of its Coordinator and shall notify the other
        Party
        as soon as practicable upon changing such appointment. The Coordinator appointed
        by each Party shall be responsible for (a) preparing such Party’s
        representatives serving on the Joint Alliance Team for meetings of the Joint
        Alliance Team, (b) coordinating the distribution and exchange of
        information to, from and among such Party’s representatives serving on the Joint
        Alliance Team, and (c) assisting in the coordination of the day-to-day
        activities of such Party’s representatives serving on the Joint Alliance Team so
        that the Joint Alliance Team can function effectively and such representatives
        can more effectively discharge their responsibilities as members of the Joint
        Alliance Team.

      

      3.3 Non-exclusive
        Right of Negotiation for Manufacturing Rights.
        Subject
        to the provisions of this Section 3.3, CUBIST hereby grants XTL a non-exclusive
        right of negotiation during the term of this Agreement to obtain all or any
        portion of the rights to manufacture and supply Product in the Territory.
        In the
        event that CUBIST proposes to engage a Third Party manufacturer to manufacture
        and supply Product in the Territory, then CUBIST will notify XTL in writing
        thereof and thereafter, XTL, to the extent that it remains so interested,
        shall
        be included among the interested parties with whom CUBIST holds discussions
        for
        the right to manufacture Products in the Territory until such time as CUBIST
        selects the party with whom it wishes to enter into negotiations for a
        definitive agreement for such rights. XTL acknowledges that beyond inclusion
        and
        participation in the discussions for such rights, XTL has no additional right
        or
        expectation whatsoever, and CUBIST has no additional obligation to XTL in
        respect of such non-exclusive negotiation rights. CUBIST shall consider
        commercially reasonable criteria in selecting its Third Party manufacturers,
        including without limitation, the Product specifications, the cost of goods
        sold, regulatory requirements and prior experience and performance. Without
        limiting the generality of the foregoing, XTL acknowledges that CUBIST shall
        have complete liberty to select its manufacturing partners, and to determine
        all
        manufacturing activities, as CUBIST, in its sole discretion, sees fit, but
        consistent with CUBIST’s obligations to use Commercially Reasonable Efforts as
        set forth in Section 2.2. Notwithstanding anything expressed or implied to
        the
        contrary in this Section 3.3, XTL shall be afforded the opportunity to
        participate in such negotiations only once during the term of this Agreement
        and
        in the event that XTL foregoes its non-exclusive right of negotiation for
        the
        manufacture and supply of a particular Product, or if XTL participates in
        such
        negotiations but is not selected by CUBIST, then XTL’s non-exclusive rights
        under this Section 3.3 shall terminate. XTL’s
        rights under this Section 3.3 will terminate upon a Change of Control of
        CUBIST
(except
        with respect to any separate written manufacturing agreement entered into
        between CUBIST and XTL prior to the effective date of such Change of
        Control;
        provided
        that
        CUBIST has promptly complied with the notice provisions set forth in this
        Section 3.3 prior to such Change of Control).

      

      3.4 Independence.  Subject
        to the terms of this Agreement, the activities and resources of each Party
        shall
        be managed by such Party, acting independently and in its individual capacity.
        The relationship between CUBIST and XTL is that of independent contractors,
        and
        neither Party shall have the power to bind or obligate the other Party in
        any
        manner, other than as is expressly set forth in this Agreement.

      

      
        
           

        

        
          10

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      Section
        4. INFORMATION
        SHARING.

      

      4.1 Product
        Information.
         (a) During
        the term of this Agreement, XTL shall have an ongoing obligation to transfer
        to
        CUBIST all information, including technical data, in XTL’s possession or Control
        and related to the Product as CUBIST may reasonably require; provided
        that in
        the event that XTL is unable to transfer any information or technology to
        CUBIST
        required to be transferred under this Agreement, upon CUBIST’s written request,
        XTL shall arrange for the prompt transfer of such information or technology
        to
        an Israeli subsidiary of CUBIST at XTL’s expense. On the first business day of
        each quarter during the term of this Agreement, XTL shall provide CUBIST
        with a
        written report detailing the activities undertaken by XTL under the HepeX-B
        Plan
        and the results obtained from such activities. At any time during the term
        of
        this Agreement, upon reasonable request by CUBIST, XTL shall deliver to CUBIST
        or its designee copies of all files in the possession or control of XTL or
        its
        agents that relate to the Product or activities undertaken by XTL under the
        HepeX-B Plan. During
        the term of this Agreement and for one (1) year thereafter, XTL shall maintain
        all data and other records in XTL’s possession that are obtained or generated by
        XTL, its Affiliates or its Third Party service providers in the course of
        providing services under the HepeX-B Plan (collectively, “Records”)
        in a
        safe and secure manner and in accordance with all applicable laws and
        regulations. XTL shall make available all Records to CUBIST for examination
        and
        duplication, during normal business hours and at mutually agreeable times.
        During
        the term of this Agreement, XTL shall provide CUBIST with reasonable access
        to
        pertinent XTL employees or members of Third Party contractors that are engaged
        in the activities undertaken by XTL under the HepeX-B Plan or have experience
        with or information related to any Products. For the purposes of calculating
        Designated Costs, XTL’s activities under this Section 4.1(a) (with the exception
        of XTL’s obligation to transfer information or technology to an Israeli
        subsidiary of CUBIST) in connection with HepeX-B shall be considered to be
        activities necessary or advisable to Obtain Regulatory Approval for a
        commercially viable formulation of HepeX-B for the prevention of recurrent
        Hepatitis B infections in liver transplant patients in the
        Territory.

      

      (b) On
        or
        before February 1st and August 1st of each Contract Year, CUBIST shall provide
        to XTL written progress reports summarizing in reasonable detail CUBIST’s
        activities to Obtain Regulatory Approval during the six- (6) month period
        ending
        on the preceding December 31st and June 30th,
        respectively, as well as anticipated activities to be undertaken during the
        subsequent six-month period. CUBIST shall also notify XTL in writing of any
        material developments as a result of CUBIST’s activities to Obtain Regulatory
        Approval within thirty (30) days thereafter. 

      

      4.2 Pre-Clinical
        and Clinical Data; Regulatory Filings.
        XTL
        will
        provide to CUBIST
        all
        relevant pre-clinical or clinical information (including without limitation
        that
        with respect to Product safety) relating to or in connection with Product
        in a
        timely fashion and to permit CUBIST to comply with any applicable law or
        regulation. No
        later
        than five (5) days after the Effective Date, XTL will provide CUBIST copies
        of
        all regulatory filings, INDs, and orphan drug designations, and the results
        of
        all pre-clinical and clinical testing of Products performed by or on behalf
        of
        XTL. On an ongoing basis during the term of this Agreement, XTL will provide
        to
        CUBIST (i) all information in XTL’s possession or control regarding pre-clinical
        testing and clinical testing performed or to be performed by or on behalf
        of XTL
        with respect to the Products (including, without limitation, information
        concerning the design and plans with respect to such pre-clinical testing
        or
        clinical testing) as such information becomes available, (ii) the results
        of all
        pre-clinical and clinical testing performed by or on behalf of XTL with respect
        to the Products as such information becomes available, (iii) all information
        in
        XTL’s possession regarding Products necessary or useful for making regulatory
        filings in the Territory with respect to Products as such information becomes
        available, and (iv) copies of all regulatory filings made by or on behalf
        of XTL
        with respect to Products promptly after such regulatory filings are made.
        CUBIST
        shall have a right of access, a right of reference and the right to use and
        incorporate all information provided to it pursuant to this Section 4.2 in
        its
        applications for Regulatory Approval of Products within the Territory and
        for
        all other purposes related to Obtaining Regulatory Approval, manufacture
        and
        Commercialization of Products. For the purposes of calculating Designated
        Costs,
        XTL’s activities under this Section 4.2 in connection with HepeX-B shall be
        considered to be activities necessary or advisable to Obtain Regulatory Approval
        for a commercially viable formulation of HepeX-B for the prevention of recurrent
        Hepatitis B infections in liver transplant patients in the
        Territory.

      

      4.3 No
        Retained Rights.
        Notwithstanding
        anything expressed or implied in the foregoing provisions of this Section
        4 to
        the contrary, nothing in this Section 4 or elsewhere in this Agreement is
        intended to diminish the scope of the exclusive rights licensed by XTL to
        CUBIST
        pursuant to Section 2 or to suggest that, from and after the Effective Date,
        XTL
        retains any rights to Obtain Regulatory Approval for, manufacture, use or
        Commercialize any Product for the prevention or treatment of Hepatitis B,
        except
        to the extent necessary for XTL to perform its obligations under the HepeX-B
        Plan in accordance with the provisions of this Agreement.

      
        
           

        

        
          11

          
            

          

        

        
           

          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

       

      Section
        5. REGULATORY
        APPROVAL ACTIVITIES.

      

      5.1 Regulatory
        Approval Activities. (a) Subject
        to, and in accordance with, the terms and conditions of this Agreement and
        all
        requirements of applicable laws, rules, and regulations, XTL shall use
        Commercially Reasonable Efforts to conduct its activities to Obtain Regulatory
        Approval set forth in the HepeX-B Plan; provided,
        however, that subject to Section 5.1(b), XTL shall not have any obligation
        to
        perform activities to Obtain Regulatory Approval under the HepeX-B Plan or,
        prior to the first iteration of the HepeX-B Plan, under the guidelines attached
        as Exhibit
        C
        (other
        than the XTL Activities and such other XTL obligations as are expressly set
        forth in this Agreement) to which XTL has not consented if (i) prior to the
        first iteration of the HepeX-B Plan, CUBIST attempts to impose obligations
        that
        materially deviate in scope from the guidelines set forth in Exhibit
        C,
        (ii)
        the initial HepeX-B Plan materially deviates in scope from the guidelines
        attached in Exhibit
        C,
        and/or
        (iii) material changes are made to the HepeX-B Plan without XTL’s prior written
        consent; provided
        that in
        all cases, XTL may not refuse to provide any data or information pursuant
        to
        Sections 4.1(a) or 4.2. XTL hereby acknowledges and agrees that it shall
        not be
        entitled to engage in any activities to Obtain Regulatory Approval with respect
        to any Product intended for treatment or prevention of Hepatitis B, unless
        and
        until such activities have been incorporated into the HepeX-B Plan and CUBIST
        shall have provided written consent to XTL engaging in such development
        activities. The Parties shall use Commercially Reasonable Efforts to minimize
        the costs and expenses incurred by them as a result of the performance of
        their
        obligations under this Section 5. Notwithstanding anything in this Section
        5 or
        elsewhere in this Agreement to the contrary, XTL shall cease any activities
        to
        Obtain Regulatory Approval, including any pre-clinical and clinical activity
        for
        Products, upon receipt of written notice from CUBIST to cease such activity,
        or
        as soon as practicable thereafter. 

      

      (b) If
        and to
        the extent requested by CUBIST and included in the HepeX-B Plan, XTL shall
        use
        Commercially Reasonable Efforts to deliver to CUBIST the following
        (collectively, as described in Exhibit
        D
        and as
        revised from time to time by mutual written consent of the Parties, the
“XTL
        Activities”):
        (i) a
        commercially viable method to manufacture Product using *****,
        including development and implementation of a testing plan to demonstrate
        comparability to Products produced from *****;
        (ii) a
        commercially viable, concentrated parenteral formulation of Product for both
        intravenous and subcutaneous injection; (iii) complete the phase 2b study
        and
        the PK/PD bridging study for HepeX-B undertaken by XTL and underway as of
        the
        Effective Date.

      

      5.2. HepeX-B
        Plan.
        All
        activities of the Parties (including allocation of responsibilities of each
        Party or its designee) contemplated under this Agreement to Obtain Regulatory
        Approval, including without limitation, pre-clinical and clinical Product
        activities, any XTL Activities requested by CUBIST, and all scientific,
        clinical, manufacturing, regulatory and other activities to be undertaken
        for a
        commercially viable Product, and a budget for the foregoing, shall be set
        forth
        in a plan, as modified from time to time (the “HepeX-B
        Plan”).
        In
        addition, the HepeX-B Plan will indicate whether any budgeted costs are
        Designated Costs. Within *****
        days
        after the Effective Date, the Joint Alliance Team shall propose a detailed
        initial HepeX-B Plan for each Party’s review. An initial guideline identifying
        major concepts for inclusion in the HepeX-B Plan is attached as Exhibit
        C;
        if
        requested by CUBIST, any or all of the XTL Activities shall also be included
        in
        the HepeX-B Plan. The Joint Alliance Team will propose recommended changes
        to
        the HepeX-B Plan at least *****.
        No
        modification to the HepeX-B Plan will be effective unless and until approved
        by
        CUBIST and provided to XTL pursuant to Section 15.4 (without copies to legal
        counsel). CUBIST will have the sole right to determine whether to *****
        CUBIST’s
        sole discretion, but subject to *****.
        XTL has
        the right to review *****
        to the
        HepeX-B Plan for the purpose of (a) *****
        under
        the HepeX-B Plan should constitute *****;
        and (b)
        to *****
        under
        the modified HepeX-B Plan (other than XTL Activities) as contemplated in
        Section
        5.1(a). XTL shall have *****
        days
        from receipt of any proposed modified HepeX-B Plan pursuant to Section 15.4
        (without copies to legal counsel) to inform CUBIST whether it disputes the
        categorization of any such costs as Designated Costs. If XTL timely informs
        CUBIST that *****,
        the
        Parties shall then have *****
        business
        days to discuss *****,
        and if
        the Parties cannot agree after good faith discussions whether any *****,
        the
        matter shall be resolved in accordance with the dispute resolution process
        set
        forth in Section 14. If XTL does not inform CUBIST within *****
        days
        after receipt of any proposed modified HepeX-B Plan that it agrees to
*****
        proposed
        under the modified HepeX-B Plan as contemplated in Section 5.1(a), XTL will
        be
        deemed to have elected *****.
        

      

      5.3 Use
        of Data by XTL.
        All
        data generated by XTL from any activities engaged in by XTL pursuant to,
        and in
        accordance with, the provisions of this Section 5 shall not be used by XTL
        and
        its Affiliates, except to support Regulatory Approval in the Territory of
        Product or to Commercialize Product in the Territory without the prior written
        consent of CUBIST, which shall not be unreasonably withheld.

      

      
        
           

        

        
          12

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      5.4 Costs
        and Expenses.
        The
        costs and expenses incurred by both Parties in connection with any and all
        activities engaged in pursuant to, and in accordance with, the provisions
        of
        this Section 5, shall be allocated in the manner set forth in Section
        7.

      

      5.5 Health
        Hazards.
        Each
        Party will notify the other Party of any material health hazards with respect
        to
        Products that may impact employees involved in the activities to Obtain
        Regulatory Approval, manufacture, production or supply of Products as soon
        as
        practicable, and in any event within forty-eight (48) hours, after such Party
        becomes aware of such hazards.

      

      5.6 XTL
        Compliance.
        In
        connection with any activities undertaken by XTL to Obtain Regulatory Approval
        in connection with any Product, XTL shall comply with all applicable laws,
        rules
        and regulations regarding such activities, as such laws, rules and regulations
        are in effect where such activities are undertaken. 

      

      5.7
         No
        Debarred Personnel.  In
        the course of the development of Product or any component thereof, XTL has
        not
        used prior to the Effective Date, and neither XTL nor CUBIST shall not use
        during the term of this Agreement, the services of any employee, consultant,
        contractor, or clinical investigator that has been debarred by the FDA or
        any
        other Regulatory Authorities or that is the subject of debarment proceedings
        by
        the FDA or any other Regulatory Authority.

      

      Section
        6. REGULATORY
        ACTIVITIES

      

      6.1 Regulatory
        Activities.
        Subject
        to, and in accordance with, the terms and conditions of this Agreement
        (including Section 6.3), and all requirements of applicable laws, rules,
        and
        regulations, CUBIST shall be responsible for filing and obtaining Regulatory
        Approvals for Products in the Territory. XTL shall not be entitled to engage
        in
        any regulatory activities with respect to any Product without the prior written
        consent of CUBIST. XTL shall use Commercially Reasonable Efforts to assist
        CUBIST in complying with all requirements of applicable laws, rules, and
        regulations related to Regulatory Approval of Product in the Territory.
        Notwithstanding anything in this Section 6 or elsewhere in this Agreement
        to the
        contrary, XTL shall cease any regulatory activity and all attempts to Obtain
        Regulatory Approval with respect to any Product upon receipt of written notice
        from CUBIST to cease such activity, or as soon as practicable
        thereafter.

      

      6.2 Regulatory
        Approvals.  To
        the extent permitted by applicable laws, rules and regulations, CUBIST
        shall file in its own name, and own, all drug, biologic and device approval
        applications and Regulatory Approvals for Products in the Territory, and
        shall
        be solely responsible for all communications with Regulatory Authorities
        in such
        countries relating thereto. Upon CUBIST’s reasonable request, XTL shall
        cooperate with and assist CUBIST in the communication with any Regulatory
        Authority or in the preparation and submission of any regulatory filing
        regarding Product, and will provide such information and data in XTL’s
        possession or control that is necessary to Obtain Regulatory Approval. If
        XTL is
        required by applicable laws or regulations or a Regulatory Authority having
        jurisdiction in the Territory to disclose information directly to such
        Regulatory Authority relating to Product, XTL shall notify CUBIST in writing
        of
        the requirement and the particulars of the information required to be disclosed,
        and XTL shall coordinate with CUBIST in making any such disclosure. Further,
        with respect to any such required disclosures, CUBIST shall have the right
        to be
        present and to participate at all face-to-face meetings and scheduled conference
        calls between XTL and such Regulatory Authority with respect to Product and
        CUBIST shall have the right to lead any such face-to-face meetings or scheduled
        conference calls. Promptly after the Effective Date, XTL shall transfer and
        assign to CUBIST any and all such drug, biologic and device approval
        applications, INDs, orphan drug designations or Regulatory Approvals held
        by XTL
        as of the Effective Date. 

      

      6.3 Costs
        and Expenses.
        The
        costs and expenses incurred by both Parties in connection with any and all
        regulatory activities engaged in pursuant to, and in accordance with, the
        provisions of this Section 6, shall be allocated in the manner set forth
        in
        Section 7. 

       

      
        
           

        

        
          13

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

       

      
        Section
          7. PRODUCT
          COSTS AND EXPENSES.

      7.1 Collaboration
        Support.
        The
        Parties acknowledge that XTL will incur costs from and after the Effective
        Date
        in furtherance of its activities set forth in the HepeX-B Plan. Subject to
        the
        last sentence of this Section 7.1, CUBIST shall pay XTL $2,000,000 in
        contemplation of costs, of which (a) *****
        after
        the Joint Alliance Team’s initial presentation of the HepeX-B Plan for approval,
        unless CUBIST dissolves the Joint Alliance Team prior to such initial
        presentation, in which case, CUBIST will pay such amount within *****
        days
        after *****;
        (b)
*****
        shall be
        paid on or prior to *****;
        and (c)
*****
        shall be
        paid on the last business day of *****.
        Notwithstanding anything to the contrary express or implied in this Section
        7.1,
        CUBIST shall have no obligation to make any payment under this Section 7.1
        if
        XTL is in material breach of its obligations under this Agreement.

      

      7.2 Overall
        Designated Costs.
        The
        Parties shall use Commercially Reasonable Efforts to minimize the Designated
        Costs. It is the intent of the Parties, to the extent practicable, to endeavor
        to limit the Designated Costs to not more than $33,900,000. 

      

      7.3 Designated
        Costs. (a)
        In
        addition to the payments under Section 7.1, and subject to Section 7.4, CUBIST
        shall bear all Designated Costs; provided
        that any
        XTL Designated Costs are incurred in the performance of activities that are
        set
        forth in an approved HepeX-B Plan in effect as of the time XTL incurred such
        Designated Costs or became obligated to incur such Designated Costs. XTL
        shall
        submit quarterly invoices in Dollars to CUBIST no later than *****
        after
        the end of each quarter which set forth in reasonable detail the XTL Designated
        Costs for the immediately preceding quarter. If not previously approved by
        CUBIST in writing, CUBIST shall inform XTL within *****
        days of
        receipt of an invoice whether it disputes the categorization of any such
        costs
        listed in such invoice as Designated Costs. The Parties shall have *****
        business
        days to discuss such costs, and if the Parties cannot agree after good faith
        discussions whether any itemized costs listed in such invoice are Designated
        Costs, the matter shall be resolved in accordance with the dispute resolution
        process set forth in Section 14. CUBIST shall not be responsible for any
        costs
        set forth in an invoice that are not Designated Costs. Subject to the
        immediately preceding sentence and Section 7.4 below, CUBIST shall reimburse
        Designated Costs that are not subject to a good faith dispute within
*****
        days
        after receipt of such invoice.

      

      (b) CUBIST
        shall provide to XTL, no later than *****
        days
        after the end of each quarter, a report which sets forth in reasonable detail
        the CUBIST Designated Costs for the immediately preceding quarter. XTL shall
        inform CUBIST within *****
        days of
        receipt of any such report whether it disputes the categorization of any
        such
        costs listed in such invoice as Designated Costs. The Parties shall have
        *****
        business
        days to discuss such costs, and if the Parties cannot agree after good faith
        discussions whether any itemized costs listed in such report are Designated
        Costs, the matter shall be resolved in accordance with the dispute resolution
        process set forth in Section 14.

      

      7.4 CUBIST
        Designated Costs Cap.
        Notwithstanding
        anything express or implied to the contrary contained herein, CUBIST shall
        be
        responsible for up to $33,900,000 of the Designated Costs (whether incurred
        by
        CUBIST or XTL). Thereafter, the Parties shall each bear fifty percent (50%)
        of
        the Designated Costs in excess of $33,900,000. From and after the date that
        the
        aggregate amount of undisputed Designated Costs is equal to or greater than
        $33,900,000, after receipt of each invoice from XTL, CUBIST shall determine
        the
        aggregate Designated Costs for such quarter by adding the undisputed XTL
        Designated Costs for such quarter (to the extent such Designated Costs are
        in
        excess of the aggregate Designated Costs of $33,900,000) plus the undisputed
        CUBIST Designated Costs for such quarter (to the extent such Designated Costs
        are in excess of the aggregate Designated Costs of $33,900,000) (the sum
        of the
        XTL Designated Costs and the CUBIST Designated Costs for such quarter referred
        to herein as the “Aggregate
        Designated Costs”).
        If
        the undisputed XTL Designated Costs for such quarter are greater than fifty
        percent (50%) of the Aggregate Designated Costs for such quarter, then CUBIST
        shall pay to XTL an amount equal to (i) the XTL Designated Costs for such
        quarter minus (ii) the result of the Aggregate Designated Costs for such
        quarter
        divided by two (2). CUBIST shall pay such amount within *****
        days of
        receipt of the invoice for XTL Designated Costs for such quarter. If the
        undisputed CUBIST Designated Costs for such quarter are greater than fifty
        percent (50%) of the Aggregate Designated Costs for such quarter, then XTL
        shall
        pay to CUBIST an amount equal to (I) the CUBIST Designated Costs for such
        quarter minus (II) the result of the Aggregate Designated Costs for such
        quarter
        divided by two (2). CUBIST shall deliver an invoice to XTL for such amount,
        which invoice shall set forth in reasonable detail the CUBIST Designated
        Costs
        for the immediately preceding calendar quarter. XTL may either make such
        payment
        within *****
        days
        of
        receipt of the invoice or *****
        under
*****
        hereunder such that the *****
        are no
        less than the *****,
        until
        XTL’s share of Designated Costs is offset in full. A one-time fee of
*****
        shall be
        assessed on every amount that *****
        pursuant
        to this Section 7.4. In addition, interest shall accrue pursuant to Section
        10.8
        on all *****
        that XTL
*****
        pursuant
        to this Section 7.4 beginning *****
        months
        after XTL’s receipt of CUBIST’s invoice therefor. XTL shall have no obligation
        to pay any Designated Costs that have not been *****
        as of
        the termination or expiration of this Agreement. XTL shall have no obligation
        to
        share in any Designated Costs incurred *****,
        and
        interest shall cease to accrue with respect to any previously incurred
        Designated Costs. For the avoidance of doubt, XTL’s obligation to share in any
        Designated Costs under this Section 7.4 shall be limited to HepeX-B, unless
        otherwise agreed by the Parties in writing.

      

      
        
           

        

        
          14

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      7.5 Practices.
        XTL will
        perform its activities under the HepeX-B Plan in accordance with then current
        Good Laboratory Practices, Good Clinical Practices (as required of a sponsor
        of
        a clinical trial), and Good Manufacturing Practices, if and to the extent
        required by the HepeX-B Plan, and in such event, XTL will include in each
        agreement with each of its subcontractors, if any, performing any such
        activities contemplated under the HepeX-B Plan a requirement that such
        subcontractors perform its activities in accordance with then current Good
        Laboratory Practices, Good Clinical Practices, and Good Manufacturing Practices,
        as and if applicable.

      

      Section
        8. CONFIDENTIALITY;
        PUBLICATION; RECORDS.

      

      8.1 Nondisclosure
        Obligation.
        All
        Proprietary Information disclosed by or on behalf of one Party to the other
        Party under this Agreement that is marked “confidential” or “proprietary”, and
        in the case of oral information, is summarized in a writing that is marked
        “confidential” or “proprietary” and delivered to the other Party within thirty
        (30) days of disclosure of such information, shall be maintained in confidence
        by the receiving Party and shall not be disclosed to a non-Party or used
        for any
        purpose whatsoever without the prior written consent of the other Party,
        except
        to the extent that such Proprietary Information:

      

      (a) is
        known
        by recipient at the time of its receipt, and not through a prior disclosure
        by
        or on behalf of the disclosing Party, as documented by contemporaneous business
        records;

      

      (b) is
        properly in the public domain through no fault of the recipient;

      

      (c) is
        subsequently disclosed to a receiving Party by a Third Party who may lawfully
        do
        so and is not directly or indirectly under an obligation of confidentiality
        to
        the disclosing Party, as documented by written business records in existence
        prior to the receipt of such information from the disclosing Party;

      

      (d) is
        developed by the recipient independently of, and without reference to or
        use of,
        Proprietary Information received from the disclosing Party;

      

      (e) is
        required to be disclosed to governmental or other regulatory agencies in
        order
        to obtain patents, to obtain approval to conduct clinical trials or to market
        Products, or to comply with applicable governmental or stock exchange or
        quotation system regulations; provided,
        however, that such disclosure may be only to the extent reasonably necessary
        to
        obtain patents or approval, or to comply with laws or regulations as appropriate
        and that confidential treatment will be sought to the extent reasonably
        practicable;

      

      (f) is
        disclosed to actual or potential permitted sublicensees or permitted assignees
        and/or other third parties (1) for the purpose of conducting activities under
        this Agreement (or for such actual or potential permitted sublicensees or
        permitted assignees and/or other third parties to determine their interest
        in
        performing such activities) in accordance with this Agreement or (2) for
        the
        purpose of allowing the Party making such disclosure to effectively exploit
        its
        rights under this Agreement and obtain all of the benefits under this Agreement
        to which such Party is entitled as contemplated by this Agreement; provided,
        however, that such actual or potential permitted sublicensees or permitted
        assignees and/or other third parties have agreed to be bound by confidentiality
        obligations substantially equivalent to the terms herein for no less than
        five
        years from the date of disclosure; 

      

      (g) is
        disclosed to employees, officers, directors, consultants, agents, investors
        or
        potential investors of, or lenders or potential lenders to, the Party making
        such disclosure; provided,
        however, that such employees, officers, directors, consultants, agents,
        investors, potential investors, lenders and potential lenders have agreed
        to be
        bound by confidentiality obligations substantially equivalent to the terms
        herein for no less than five years from the date of disclosure; and provided
        further
        that notwithstanding the provisions set forth above in this subsection (g),
        neither Party shall disclose Proprietary Information of the other Party to
        potential investors or potential lenders except to the extent that such
        disclosure is made in the context of such potential investors’ or potential
        lenders’ due diligence investigation of the Party making such
        disclosure;

      
        
           

        

        
          15

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

       

      (h) is
        used
        by the receiving Party for the purpose of conducting activities under this
        Agreement in accordance with its respective terms or is used by the receiving
        Party for the purpose of allowing the receiving Party to effectively exploit
        its
        rights under this Agreement and obtain all of the benefits under this Agreement
        to which such receiving Party is entitled as contemplated by this Agreement;
        or

      

      (i) is
        required to be disclosed by law, regulation or court order; provided
        that
        notice is promptly delivered to the other Party in order to provide an
        opportunity to challenge or limit the disclosure obligations; and provided further
        that
        such disclosure may be only to the extent reasonably necessary to comply
        with
        the applicable law, regulation or court order.

      

      The
        disclosing Party shall identify any Proprietary Information delivered to
        the
        receiving Party that is confidential information of a Third Party and the
        disclosing Party shall inform the receiving Party of any restrictions,
        limitations and qualifications imposed on such Proprietary Information by
        such
        Third Party. XTL agrees that with respect to any CUBIST Proprietary Information
        disclosed to Yeda as contemplated by the XY Agreement and the Consent Agreement,
        that XTL shall mark all such CUBIST Proprietary Information as “confidential” or
“proprietary”, and in the case of oral information, XTL shall summarize such
        CUBIST Proprietary Information in a writing that is marked “confidential” or
“proprietary” and deliver such summary to Yeda within thirty (30) days of
        disclosure of such CUBIST Proprietary Information.

      

      8.2 No
        Disclosure of Terms.
        Either
        Party may disclose the existence of this Agreement, but, except to the extent
        otherwise provided below in this Section 8.2, neither Party shall disclose
        the
        terms of this Agreement without the prior written consent of the other Party.
        Notwithstanding the foregoing, either Party may disclose the terms of this
        Agreement pursuant to the provisions of subparagraphs (b), (e), (f) (with
        financial terms redacted), (g), or (i) of Section 8.1 to the same extent
        as if
        the terms of this Agreement were Proprietary Information of the non-disclosing
        Party.

      

      8.3 No
        Publication.
        XTL
        shall not publish or publicly present any information (a) relating to this
        Agreement, (b) any activities conducted under or in relation to this Agreement,
        or (c) relating to any Product, in all cases without the prior written consent
        of CUBIST. Neither Party shall make public use of the other Party’s name or
        identifying marks except as otherwise permitted under this Agreement, with
        the
        prior written consent of the other Party or as required by applicable law
        or
        regulation. CUBIST shall not use the names of Yeda, the Weizmann Institute
        of
        Science, Rehovot, or Professor Yair Reisner in any advertising, sales
        literature, or promotional material unless (i) the prior written approval
        of
        Yeda thereto has been obtained or (ii) such use or disclosure is to governmental
        authorities for the purposes of obtaining approval or permission for the
        exercise of its license rights to any XTL Technology licensed to XTL pursuant
        to
        the XY Agreement or is in the fulfillment of any legal duty owed to any
        governmental authority or is required by applicable law. Nothing in this
        Section
        8.3 shall limit XTL’s ability to apply for any patent protection. 

      

      8.4 Press
        Releases, Etc.
        Notwithstanding anything set forth in Section 8.1, 8.2 or 8.3 above to the
        contrary, XTL may not issue any news release or other public announcement
        relating to this Agreement or to the Parties’ performance hereunder, without the
        prior written consent of CUBIST, which shall not be unreasonably withheld
        or
        delayed, except to the extent required by applicable law, regulation or stock
        exchange or quotation system requirement; provided
        that XTL
        uses Commercially Reasonable Efforts to submit to CUBIST a draft of such
        news
        release or public announcement at least five (5) days prior to the date of
        planned issuance thereof and shall review and consider in good faith any
        comments provided by CUBIST. CUBIST may issue any news release or other public
        announcement relating to Product without the prior written consent of XTL,
        subject to the confidentiality provisions of Sections 8.1, 8.2 and 8.3;
provided,
        however, that CUBIST may not issue any news release or other public announcement
        relating to this Agreement or to XTL’s performance hereunder, without the prior
        written consent of XTL, which shall not be unreasonably withheld or delayed,
        except to the extent required by applicable law, regulation or stock exchange
        or
        quotation system requirement; and provided further that, unless precluded
        by
        applicable law, regulation or stock exchange or quotation system requirement,
        CUBIST will use Commercially Reasonable Efforts to submit to XTL a draft
        of such
        news release or public announcement at least five (5) days prior to the date
        of
        planned issuance thereof so as to afford XTL the opportunity to object if
        such
        proposed press release would violate applicable Israeli law, regulation or
        stock
        exchange or quotation system requirement. In the event of such objection,
        the
        parties will diligently cooperate to arrive at a revised draft of such proposed
        press release that does not so violate such applicable Israeli law, regulation
        or stock exchange or quotation system requirement.

      

      
        
           

        

        
          16

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      8.5 Records;
        Audit Rights.
        Each
        Party shall keep or cause to be kept full and accurate books of account and
        records containing all particulars that may be necessary to determine, in
        a
        manner consistent with generally accepted accounting principles in the United
        States, the sums or credits due under this Agreement, including, but not
        limited
        to Designated Costs, Net Sales and Sublicensee Revenues. At the written request
        (and expense) of either Party, the other Party and its Affiliates, and in
        the
        case of CUBIST, its licensees and sublicensees shall permit an independent
        certified public accountant appointed by such Party and reasonably acceptable
        to
        the other Party, accompanied by representatives of the financial department
        of
        the audited Party at reasonable times, upon reasonable notice and no more
        frequently than once per Contract Year, to examine only those records as
        may be
        necessary to determine the correctness or completeness of any report or payment
        made under this Agreement, including but not limited to Designated Costs,
        Net
        Sales and Sublicensee Revenues (including a breakdown of the components thereof
        so as to enable calculation of royalties payable to Yeda under the XY
        Agreement), with respect to any Contract Year ending not more than *****
        prior to
        such Party’s request. Results of any such examination shall be (i) made
        available to both Parties, (ii) limited to information necessary to report
        any
        error in any payment or report made under this Agreement and (iii) subject
        to
        the provisions of this Section 8. The Party requesting the audit shall bear
        the
        full cost of the performance of any such audit, unless such audit discloses
        a
        variance of more than *****
        from the
        amount of the original report, royalty or payment calculation. In such case,
        the
        Party being audited shall bear the full cost of the performance of such
        audit.

      

      Section
        9. LICENSE
        AND MILESTONE PAYMENTS.

      

      9.1 Consideration
        for License.
        In
        consideration for the licenses granted to CUBIST under Section 2, CUBIST
        shall
        make a cash payment to XTL of USD $1,000,000 within three (3) business
        days
        after the Effective Date of this Agreement.

      

      9.2 Milestones.
        (a)
        Subject
        to the terms and conditions in this Agreement (including, without limitation,
        the provisions of Sections 9.2(b), 9.2(c) and 9.3 below), CUBIST shall make
        cash
        payments to XTL in the respective amounts set forth below upon attainment
        of the
        milestones events (each a “Milestone
        Event”)
        set
        forth below:

      

      
        	 	 
	
                Milestone
                  Event

              	
                 Payment
                  Amount

              
	
                *****

              	
                 

                USD
                  $*****

              
	
                *****

              	
                 

                USD
                  $*****

              

      

      

      (b) CUBIST
        shall promptly notify XTL in writing upon the achievement of any of the
        milestones set forth above in Section 9.2(a) and CUBIST shall have *****
        days
        after the occurrence of the Milestone Event to make the corresponding milestone
        payment due. All milestone payments shall be in Dollars.

      

      (c) CUBIST
        shall make only one of the payments set forth in Section 9.2(a) and only
        upon
        the first achievement of the applicable Milestone Event by the first iteration
        of HepeX-B to achieve such milestone. After the achievement of a given Milestone
        Event and the payment required to be made by CUBIST pursuant to Section 9.2(a),
        no further payment shall be due or owed by CUBIST in connection with any
        Milestone Event, regardless of how many times the same Milestone Event is
        achieved by different or multiple Products. If the first achievement of the
        Milestone Event occurs after December 31, 2008, then no payment shall be
        due or
        owed by CUBIST pursuant to Section 9.2(a). 

      

      9.3 Reduction
        of Milestone Payments.
        Notwithstanding
        any provision in this Section 9 or elsewhere in this Agreement to the contrary,
        CUBIST shall be entitled to reduce payments required pursuant to Section
        9.2
        above as set forth in Section 7.4, Section 11.3, or Section 12.10, or pursuant
        to the Consent Agreement, as further contemplated under Section
        10.4.

      

      Section
        10. ROYALTIES.

      

      10.1 Royalties
        on Net Sales of HepeX-B covered by a Valid Claim. (a) For
        each
        Contract Year during the term of this Agreement, CUBIST shall pay to XTL,
        subject to the terms and conditions of this Agreement (including, without
        limitation, the provisions of Sections 10.2, 10.4, 10.5 and 10.9), a royalty
        with respect to Net Sales of HepeX-B sold by CUBIST or its Affiliates, in
        any
        and all countries where the manufacture, use or sale of HepeX-B are covered
        by a
        Valid Claim in such country (each a “Patent
        Country”),
        equal
        to: 

      

      (i) if
        Net
        Sales of HepeX-B in Patent Countries during such Contract Year are equal
        to or
        less than *****,
        ten
        percent (10%) of the aggregate Net Sales for HepeX-B sold in Patent Countries
        during such Contract Year, and 

      

      
        
           

        

        
          17

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      (ii)  if
        Net
        Sales of HepeX-B in Patent Countries during such Contract Year are greater
        than
*****,
        then
        the lesser of (A) the Patent Royalty Rate, and (B) seventeen percent (17%);
        multiplied by the aggregate Net Sales for HepeX-B sold in Patent Countries
        during such Contract Year. 

      

      For
        purposes of this Section 10, the “Patent
        Royalty Rate”
        shall
        equal:

       

      
        
          	
                  [

                	
                   

                	
                   

                	
                   ]

                	
                   

                
	
                  
                    *****

                  

                	
                  ***** 

                	
                   

                
	
                  
                    

                  

                  $***** 

                	
                  
                    ***** 

                  

                
	
                   

                	
                   

                	
                  
                    ]

                  

                
	
                   

                	
                   

                	
                   

                

        

         

      

      For
        purposes of illustration only, if aggregate Net Sales of HepeX-B in Patent
        Countries during a Contract Year is equal to *****,
        then
        the Patent Royalty Rate shall equal to *****,
        or
*****.
        

      

      (b) In
        the
        event of the issuance of a Retroactive Valid Claim in a country that was
        not a
        Patent Country prior to such filing (the “Retroactive
        Royalty Country”),
        for
        each Contract Year during which the application for the Retroactive Valid
        Claim
        was pending (but in no event more than *****
        prior to
        the date of issuance of such Retroactive Valid Claim in the Retroactive Royalty
        Country), through the date of issuance (each such Contract Year, a “Retroactive
        Royalty Year”),
        CUBIST shall recalculate the aggregate royalties payable under Sections 10.1(a)
        and 10.2 for each such Retroactive Royalty Year by including the Net Sales
        of
        such Retroactive Royalty Country in the calculations for Patent Countries
        under
        Section 10.1(a), and reducing by such amount the Net Sales in the calculations
        for Know-How Countries under Section 10.2 (collectively the “Recalculated
        Royalties”).
        CUBIST will pay to XTL, subject to the terms and conditions of this Agreement
        (including, without limitation, the provisions of Sections 10.2, 10.4, 10.5
        and
        10.9), a retroactive royalty with respect to each Retroactive Royalty Year
        in an
        amount equal to (i) the Recalculated Royalties, minus
        (ii) any
        amounts paid or payable to XTL under Section 10.1(a) and Section 10.2 for
        such
        Retroactive Royalty Year prior to effecting any setoffs or offsets under
        this
        Agreement. For the first Retroactive Royalty Year, such retroactive payment
        will
        only apply for Net Sales effected after the effective date of filing of the
        application for the Retroactive Valid Claim. Such retroactive royalty payments
        will be paid in *****,
        each
*****
        after
        each of the next *****
        (each a
*****;
        provided
        that if
        such aggregate payment together with amounts payable under Section 10.3(e)
        for
        the same Retroactive Valid Claim(s) exceeds *****
        of the
        royalties paid or payable prior to effecting any setoffs or offsets under
        this
        Agreement for the Contract Year immediately preceding the Contract Year in
        such
        Retroactive Valid Claim issued, then CUBIST may elect to pay such retroactive
        royalty payments in *****
        after
        each of the next *****.
        If
        CUBIST elects to pay in *****,
        interest shall accrue pursuant to Section 10.8 on all such retroactive royalty
        payments beginning on the thirty-first (31st)
        day
        after the *****
        that are
        then unpaid.

      

      10.2 Know-How
        Royalties.
        Notwithstanding
        any provision in this Section 10 or elsewhere in this Agreement to the contrary
        but subject to Section 10.4(a), for each Contract Year during the term of
        this
        Agreement, CUBIST shall pay to XTL a royalty with respect to annual Net Sales
        of
        HepeX-B sold by CUBIST or its Affiliates in any country where the manufacture,
        use or sale of HepeX-B is not covered by a Valid Claim in such country (each
        a
“Know-How
        Country”)
        in an
        amount equal to:

      

      (a) if
        Net
        Sales of HepeX-B in the Territory during such Contract Year are equal to
        or less
        than *****
        of the
        aggregate Net Sales for HepeX-B sold in Know-How Countries during such Contract
        Year, and 

      

      (b) if
        Net
        Sales of HepeX-B in the Territory during such Contract Year are greater than
        $*****,
        then
        the lesser of (i) the Know-How Royalty Rate, and (ii) *****;
        multiplied by the aggregate Net Sales for HepeX-B sold in all Know-How Countries
        during such Contract Year.

      

      
        
           

        

        
          18

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      For
        purposes of this Section 10, the “Know-How
        Royalty Rate”
        shall
        equal:

      
        
          
             

            
              
                	
                        [

                      	
                         

                      	
                         

                      	
                         ]

                      	
                         

                      
	
                        
                          *****

                        

                      	
                        ***** 

                      	
                         

                      
	
                        
                          

                        

                        ***** 

                      	
                        
                          ***** 

                        

                      
	
                         

                      	
                         

                      	
                        
                           

                        

                      
	
                         

                      	
                         

                      	
                         

                      

              

               

            

          

        

      

      For
        purposes of illustration only, if aggregate Net Sales of HepeX-B by CUBIST
        or
        its Affiliates during a Contract Year in the Territory is equal to *****
        (representing *****
        of
        aggregate Net Sales in Patent Countries and $*****
        of
        aggregate Net Sales in Know-How Countries), then the Know-How Royalty Rate
        under
        this Section 10.2 shall equal *****,
        or
*****.
        

      

      10.3 Royalties
        on Net Sublicensee Revenues. (a)
        Subject
        to Sections 10.3(b), (c) and (d), for each Contract Year during the term
        of this
        Agreement, CUBIST shall pay to XTL, subject to the terms and conditions of
        this
        Agreement, an amount equal to *****
        of the
        aggregate annual Sublicensee Revenues for such Contract Year.

      

      (b) Notwithstanding
        anything to the contrary in Section 10.3(a) above, but subject to the other
        terms and conditions of this Agreement, for each Contract Year during the
        term
        of this Agreement, CUBIST shall pay to XTL an amount equal to (i)
        *****
        of the
        aggregate annual Sublicensee Revenues for such Contract Year with respect
        to
        rights to Commercialize Product in the United States of America, and (ii)
        if
        CUBIST sublicenses rights to Commercialize Product in more than *****
        European
        Major Markets, CUBIST shall pay to XTL *****
        of the
        aggregate annual Sublicense Revenues for such Contract Year with respect
        to
        rights to Commercialize Product in the *****
        European
        Major Market country in which CUBIST has sublicensed rights to Commercialize
        Product. In the event it is not clear which of several countries are the
        *****
        European
        Major Market countries in which CUBIST has sublicensed rights to Commercialize
        Product, CUBIST shall have the right in its sole discretion to identify which
        *****
        of those
        countries are the *****
        European
        Major Market countries; provided
        that
        such determination may not be subsequently changed by CUBIST without XTL’s prior
        written consent. To the extent that Sublicensee Revenues are applicable to
        more
        than one country listed above, the percentage of such Sublicensee Revenues
        that
        CUBIST shall be required to pay to XTL shall be calculated based on an
        appropriate weighted average of the applicable countries.

      

      (c) With
        respect to Sublicensee Revenues that relate solely to Know-How Countries
        in a
        particular Contract Year, the amount payable by CUBIST to XTL under Sections
        10.3(a) or 10.3(b) will be reduced by *****.

      

      (d) With
        respect to Sublicensee Revenues (other than Sublicensee Revenues based on
        sales)
        from a particular Sublicensee that relate to both Patent Countries and Know-How
        Countries in a particular Contract Year, the amount payable by CUBIST to
        XTL
        under Sections 10.3(a) and 10.3(b) will be reduced by a percentage between
        *****
        (in the
        event that all countries are Know-How Countries) calculated using a weighted
        average. The weighted average shall be based on the reasonable estimate provided
        in good faith by CUBIST to XTL within thirty (30) days after execution of
        the
        underlying sublicense agreement of *****.
        If XTL
        disputes such good faith estimate, then XTL may submit the matter to the
        dispute
        resolution procedures set forth in Section 14.

      

      (e) For
        each
        Retroactive Royalty Year applicable for a particular country that was not
        a
        Patent Country during such Retroactive Royalty Year absent such Retroactive
        Valid Claim, CUBIST will pay to XTL, subject to the terms and conditions
        of this
        Agreement (including, without limitation, the provisions of Sections 10.2,
        10.4,
        10.5 and 10.9), a retroactive royalty in an amount equal to (i) the amounts
        that
        would have been payable with respect to such country under Sections 10.3(a),
        (b), or (d), minus (ii) any amounts paid or payable to XTL under Section
        10.3
        with respect to such country prior to effecting any setoffs or offsets. For
        the
        first Retroactive Royalty Year, such retroactive payment will only apply
        for
        Sublicensee Revenues received after the effective date of filing of the
        application for the Retroactive Valid Claim. Such retroactive royalty payments
        will be paid in *****
        after
        each of the next *****;
        provided
        that if
        such aggregate payment together with amounts payable under Section 10.1(b)
        for
        the same Retroactive Valid Claim(s) exceeds *****
        of the
        royalties paid for the Contract Year immediately preceding the Contract Year
        in
        such Retroactive Valid Claim issued, then CUBIST may elect to pay such
        retroactive payments in *****.
        If
        CUBIST elects to pay in *****,
        interest shall accrue pursuant to Section 10.8 on all such retroactive royalty
        payments beginning on the thirty-first (31st)
        day
        after the *****
        that are
        then unpaid.

      

      
        
           

        

        
          19

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      10.4 Setoffs
        and Offsets. (a)
        Notwithstanding
        any provision in this Section 10 or elsewhere in this Agreement to the contrary
        but subject to Section 10.4(b), CUBIST shall be entitled to reduce payments
        otherwise required pursuant to this Section 10 pursuant to Section 7.4, 11.3,
        or
        12.10, or pursuant to the Consent Agreement. In addition, notwithstanding
        any
        provision in this Agreement to the contrary except Section 10.4(b), for any
        given country within the Territory, CUBIST shall have no obligation to make
        payments to XTL under Section 10.2 or 10.3 for any Contract Year with respect
        to
        a country where Product is not covered by a Valid Claim, if the aggregate
        unit
        sales of Unlicensed Products during such Contract Year by all Third Parties
        in
        such country constitute more than ***** of the market share on a per unit
        basis
        with respect to all unit sales of both such Unlicensed Products and HepeX-B
        in
        such country. CUBIST shall have no obligation to make payments to XTL under
        Section 10.2 or Section 10.3 for any Contract Year in any country within
        the
        Territory: (i) that is not a *****; (ii) where HepeX-B is *****; and (iii)
        where
        unit sales of Unlicensed Product that is also covered
        by a Valid Claim by all Third Parties in such country constitute more than
        *****
        of the
        market share on a per unit basis with respect to all unit sales of both such
        Unlicensed Product and HepeX-B.

      

      (b) With
        respect to any amount payable by CUBIST to XTL under Section 9 or Section
        10, in
        no event may CUBIST setoff or offset amounts under Section 7.4, Section 11.3,
        or
        Section 12.10 or pursuant to the Consent Agreement against such payment in
        an
        amount exceeding such amount payable. Setoffs and offsets permitted pursuant
        to
        Section 9.3, Section 11.3, and Section 10.4 will be applied in the following
        order: (i) first to reductions pursuant to *****;
        and
        (ii) second to reductions pursuant to *****;
        (iii)
        third to reductions pursuant to *****;
        and
        (iv) fourth to reductions pursuant to *****;
        provided
        that in
        no event will such offsets or setoffs reduce any such payment to an amount
        less
        than the amount of the XTL Licensor Payment applicable for such payment period.
        Any amounts setoff or offset amounts that are not actually setoff or offset
        against a particular payment amount, will be carried forward to the next
        milestone or royalty payment period.

      

      (c) XTL
        shall
        use any XTL Licensor Payment amount received under this Section 10.4 for
        the
        sole and exclusive purpose of paying such Third Parties; if XTL fails to
        use
        such amounts for such purpose, and does not remedy such failure as soon as
        reasonably practicable, and in any event no later than *****
        days
        after receipt of written notice from CUBIST, and except as otherwise agreed
        in
        the Consent Agreement with respect to Yeda, CUBIST may withhold XTL Licensor
        Payment amounts from subsequent payments under Section 9 or Section 10 to
        apply
        against any setoffs or offsets under Section 7.4, Section 11.3, or Section
        12.10.

      

      (d) It
        is
        agreed that the references to the Consent Agreement in the definition of
        the XTL
        Licensor Payments and in Sections 9.3 and 10.4(a) and (b) shall not derogate
        from the rights of Yeda under the Consent Agreement, and for the purpose
        of
        those rights, shall be deemed not to have been made.

      

      10.5 Term
        of Royalties.
        XTL’s
        right to receive (and CUBIST’s obligation to pay) royalties under this Section
        10 with respect to any country in the Territory shall expire (and Net Sales
        in
        such country after expiration will not be applied in the calculation of any
        royalty rates hereunder) upon the later of (a) ten (10) years from the First
        Commercial Sale of HepeX-B in such country, or (b) the expiration of the
        last to
        expire Valid Claim, if any, covering the manufacture, use, or sale of HepeX-B
        in
        such country;
        provided
        that if
        there is no such Valid Claim in such country, then the period described in
        clause (a) above shall control;
        and
        further provided that if clause (a) controls and if the XY Agreement requires
        XTL to pay royalties with respect to sales of HepeX-B under this Agreement
        for
        up to an additional two (2) years after such ten (10) year period, then during
        such additional period, CUBIST will pay directly to Yeda on behalf of XTL,
        such
        royalty amount to which Yeda is entitled under the XY Agreement and the Consent
        Agreement, calculated as if CUBIST were to continue to pay to XTL the amounts
        due to XTL under this Agreement and the Consent Agreement during the said
        two
        (2) year period. In the event that, in accordance with the provisions of
        this
        Section 10.5, the right of XTL to receive (and CUBIST’s obligation to pay)
        royalties under this Section 10 in connection with sales of HepeX-B in any
        country in the Territory expires, CUBIST shall nevertheless remain obligated
        to
        pay accrued royalties to XTL in connection with all sales of HepeX-B in such
        country that occurred prior to the effective date of such expiration.

      

      10.6 Royalty
        Payments and Reports.
        Royalties shall be calculated by converting all applicable Net Sales and
        Sublicensee Revenues into Dollars in accordance with the provisions of Section
        10.8 below and applying the appropriate royalty percentages set forth in,
        or
        determined in accordance with, Section 10.1 or Section 10.2 or Section 10.3,
        as
        applicable. During the term of this Agreement, royalties accrued to XTL pursuant
        to this Section 10 shall be paid within *****
        days
        after the close of each Contract Year. Royalty payments shall be made in
        Dollars. Within *****
        days of
        the end of each Contract Year, CUBIST shall furnish to XTL a report showing:
        (i)
        the calculation of Net Sales for HepeX-B that were sold in the Territory
        on a
        country-by-country basis during such Contract Year, (ii) the calculation
        of
        Sublicensee Revenues attributed to HepeX-B that was sold in the Territory
        on a
        country-by-country basis during such Contract Year, (iii) royalties accrued
        to
        XTL pursuant to Section 10.1 and pursuant to Section 10.2 during such Contract
        Year, and (v) the currency exchange rates used in determining the amount
        of
        Dollars payable to XTL. If no royalty payments are due for any Contract Year
        hereunder, CUBIST shall so report. All reports delivered pursuant to this
        Section 10.6 and any information that can be derived therefrom shall constitute
        Proprietary Information of CUBIST for purposes of Section 8.1. 

      

      
        
           

        

        
          20

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      10.7 Exchange
        Rate.
        The rate
        of exchange to be used in computing Designated Costs, Net Sales and Sublicensee
        Revenues in each country within the Territory shall be made at the average
        rate
        of exchange for such country’s currency published in the Wall
        Street Journal
        (New
        York Edition) for the last business day of each month in the applicable
        period.

      

      10.8 Interest
        on Overdue Payments.
        Any
        amounts not paid by CUBIST or XTL when due under this Agreement shall be
        subject
        to interest from and including the date payment is due through and including
        the
        date upon which CUBIST or XTL has made such payment calculated at the annual
        rate equal to the prime rate plus *****
        percent,
        as prime is reported in the Wall
        Street Journal (New
        York
        Edition), as determined for each month on the last business day of the previous
        month. For the avoidance of doubt, this Section 10.8 shall not apply to amounts
        XTL has elected to have CUBIST offset against future payments pursuant to
        Section 7.4.

      

      10.9 Taxes.
        If
        CUBIST is required by law, rule or regulation to withhold taxes from any
        payments due to XTL from CUBIST hereunder, CUBIST will (i) deduct those taxes
        from the remittable amount, (ii) pay the taxes to the proper taxing authority,
        and (iii) send evidence of the obligation together with proof of payment
        to XTL
        within thirty (30) business days following that payment. CUBIST will provide
        to
        XTL such assistance as XTL may reasonably require at XTL’s expense (including
        without limitation submission of documents to relevant revenue authorities)
        in
        claiming exemption from any such withholding requirements or seeking deductions
        under any double taxation or other similar treaty or agreement from time
        to time
        in force. In the event that XTL delivers to CUBIST an opinion from legal
        counsel
        reasonably acceptable to CUBIST that tax withholding is not
        required, CUBIST
        shall not make such withholding, in which case, XTL shall, pursuant to the
        procedures in Section 11.3, indemnify, defend and hold harmless the CUBIST
        Indemnitees with respect to any Losses resulting from a Third Party claim
        arising out of CUBIST’s not making such withholding. Without limiting the
        generality of the foregoing provisions of this Section 10.9, but subject
        to the
        immediately preceding sentence, CUBIST shall be responsible for all taxes
        imposed on or attributable to it under applicable law, and XTL shall be
        responsible for all taxes imposed on or attributable to it under applicable
        law.

      

      10.10 Products
        other than HepeX-B. (a)
        If, at
        any time during the term of this Agreement before sales of HepeX-B are being
        made by CUBIST or a Sublicensee, CUBIST ceases to conduct any material
        activities to Obtain Regulatory Approval for HepeX-B, CUBIST shall be obligated,
        at all times during the remainder of the term of this Agreement, under the
        diligence requirements under Section 2.2 with respect to at least one other
        Product.

      

      (b) Prior
        to
        Commercializing any Product other than HepeX-B (irrespective of whether sales
        of
        HepeX-B are made or not): (i) by written notice to XTL, CUBIST may elect
        to
        abide by the royalty provisions of this Section 10 with respect to such Product,
        and references to “HepeX-B” in Section 10, except with respect to this Section
        10.10, will be deemed to include such Product, except that CUBIST shall have
        the
        right to make setoffs and offsets
        pursuant to Section 10.4 only with respect to Designated Costs, infringement
        claims and payments pursuant to Third Party licenses in connection with HepeX-B,
        which CUBIST could not setoff or offset against royalties or milestones
        otherwise payable to XTL with respect to HepeX-B; or (ii) if requested by
        CUBIST, the Parties agree to negotiate in good faith the financial terms
        and
        diligence obligations associated with such Product to account for any material
        increases in costs and expenses with respect to such Product.

      

      (c) In
        the
        event CUBIST invokes clause (ii) of Section 10.10(b), if after good faith
        negotiation, the Parties are unable to mutually agree upon financial terms
        for
        such Product, then the matter shall be submitted to the dispute resolution
        procedures set forth in Section 14. In the event of arbitration, the arbitrator
        will determine commercially reasonable financial terms in light of (i) any
        additional costs required to Obtain Regulatory Approval for such new Product,
        (ii) the anticipated market for such new Product, (iii) the commercial viability
        of HepeX-B and the respective investment of the Parties in HepeX-B, and (iv)
        financial and due diligence terms for other similarly situated products in
        the
        marketplace.

      

      Section
        11. RISK
        ALLOCATION.

      

      11.1 Mutual
        Representations and Warranties.
        Each
        Party hereby represents and warrants to the other Party that:

      

      
        
           

        

        
          21

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      (a) it
        is a
        corporation duly organized, validly existing and in good standing under the
        laws
        of the jurisdiction in which it is incorporated, and has full corporate power
        and authority and the legal right to own and operate its property and assets
        and
        to carry on its business as it is now being conducted and as contemplated
        in
        this Agreement;

      

      (b) it
        has
        the corporate power and authority and the legal right to enter into this
        Agreement and perform its obligations hereunder; it has taken all necessary
        corporate action on its part required to authorize the execution and delivery
        of
        this Agreement and the performance of its obligations hereunder; and this
        Agreement has been duly executed and delivered on behalf of such Party, and
        constitutes a legal, valid and binding obligation of such Party that is
        enforceable against it in accordance with its terms;

      

      (c) it
        has
        not entered, and will not enter, into any agreement with any Third Party
        that is
        in conflict with the rights granted to the other Party under this Agreement,
        and
        has not taken and will not take any action that would in any way prevent
        it from
        granting the rights granted to the other Party under this Agreement, or that
        would otherwise materially conflict with or adversely affect the rights granted
        to the other Party under this Agreement; and

      

      (d) its
        performance and execution of this Agreement will not result in a breach of
        any
        other contract to which it is a party.

      

      11.2 XTL
        Representations and Warranties.
        XTL
        represents and warrants that: 

      

      (a) XTL
        has
        not taken any action or omission to encumber any of its right, title and
        interest in and to the XTL Technology in the Territory in any way that would
        have a material adverse effect on the rights and licenses granted to CUBIST
        hereunder; 

      

      (b) XTL
        has
        sufficient rights in and to the XTL Patents and XTL Know-How to grant the
        rights
        set forth in this Agreement to CUBIST, and XTL will do all such things and
        take
        all such actions as may be necessary to maintain such sufficient rights in
        good
        standing during the term of this Agreement, including the payment of any
        amounts
        and the performance of any obligations to any Third Party licensor of XTL
        Technology as required under any agreement or arrangement with any such Third
        Party (including without limitation the XY Agreement);

      

      (c) XTL
        has
        not misappropriated the trade secrets (or, to XTL’s knowledge after due and
        reasonable investigation, infringed) the intellectual property rights of
        any
        other Person in its activities to Obtain Regulatory Approval hereunder, and,
        to
        XTL’s knowledge after due and reasonable investigation, the exercise of the
        licenses granted to CUBIST under the XTL Patents and XTL Know-How, including
        to
        Obtain Regulatory Approval, Commercialize, or manufacture Products in the
        Territory do not infringe any patent rights Controlled by any Third Party
        which
        such patent is granted or published as a patent application on or prior to
        the
        Effective Date;

      

      (d) XTL
        is
        unaware of any activities by any Third Party that would constitute infringement
        of any XTL Patents or misappropriation of any XTL Know-How;

      

      (e) XTL
        is
        not aware of any claims, judgments or settlements against or owed by XTL
        and has
        not received notice of any pending or threatened claims or litigation relating
        to Product, the XTL Patents or XTL Know-How;

      

      (f) to
        XTL’s
        knowledge, after due and reasonable investigation, XTL has not used, prior
        to
        the Effective Date, in connection with HepeX-B, the services of any employee,
        consultant or clinical investigator that has been debarred by the FDA or
        any
        other regulatory authority or is the subject of debarment proceedings by
        the FDA
        or any other regulatory authority;

      

      (g) XTL
        has
        obtained the consent of the Office of the Chief Scientist of Israel (the
        “OCS”)
        to the
        transfer out of Israel of manufacturing rights as detailed under this Agreement
        by XTL and no provision of this Agreement, including the license grant set
        forth
        in Section 2.1, or the performance by either Party of their respective
        obligations hereunder will violate or be in conflict with any statute,
        regulation, rule, judgment, order, decree or injunction of any governmental
        agency or body of
        Israel; 

      

      (h) CUBIST
        is
        not and will not be liable to OCS for any loan or obligation incurred by
        XTL
        without CUBIST’s prior express, written consent; 

      

      
        
           

        

        
          22

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      (i) neither
        the execution and delivery of this Agreement by XTL nor the performance of
        its
        obligations hereunder will constitute a violation of, or be in conflict with,
        or
        constitute or create a default or accelerate or adversely affect any obligations
        under, any agreement or commitment to which XTL is a party or by which any
        XTL
        Patent or XTL Know-How is subject, including without limitation the XY
        Agreement; 

      

      (j) there
        is
        no fact known to XTL that has not been disclosed in writing to CUBIST (i)
        that
        could reasonably be expected to have a material adverse effect upon the right
        to
        the XTL Patents or the XTL Know-How granted hereunder, or (ii) that could
        reasonably be expected to materially and adversely affect the ability of
        XTL to
        perform its obligations under this Agreement; 

      

      (k) XTL
        owns
        or Controls the human monoclonal antibody *****,
        as
        referred to and described in *****,
        and the
        human monoclonal antibody *****,
        as
        referred to and described in *****;
        and

      

      (l) to
        XTL's
        actual knowledge, (i) any clinical studies of HepeX-B undertaken by or on
        behalf
        of XTL complied with applicable then current Good Clinical Practices, (ii)
        any
        HepeX-B manufactured by or on behalf of XTL for use in humans complied with
        applicable then current Good Manufacturing Practices and (iii) any pre-clinical
        activities undertaken by or on behalf of XTL and intended by XTL for inclusion
        in an application for Regulatory Approval complied with applicable then current
        Good Laboratory Practices.

      

      11.3
         Indemnity.
        (a)
        CUBIST
        hereby agrees to defend, hold harmless and indemnify XTL and its agents,
        directors, officers and employees (the “XTL
        Indemnitees”)
        from
        and against any and all suits, claims, actions, demands, liabilities, expenses
        and/or losses, including, without limitation, reasonable legal expenses and
        attorneys’ fees (collectively “Losses”)
        resulting directly or indirectly from a claim of a Third Party with respect
        to:
        (i) the manufacture, handling, storage, use, promotion, sale, offer for sale,
        distribution, importation or exportation of Products by or on behalf of CUBIST
        or its Sublicensees (other
        than by XTL or other than such Losses that result from claims arising out
        of an
        XTL indemnification obligation under Section 11.3(b)),
        (ii) a
        material breach of any of the provisions of this Agreement by CUBIST or any
        of
        its agents or employees; or (iii) the negligence, recklessness, or willful
        misconduct by CUBIST or any of its agents or employees in the performance
        of any
        obligations of CUBIST under this Agreement. The
        foregoing indemnification obligations will not apply in the event and to
        the
        extent that such Losses arose as a result of any XTL Indemnitee’s negligence,
        willful misconduct, or breach of this Agreement.

      

      (b) XTL
        hereby agrees to defend, hold harmless and indemnify CUBIST and its agents,
        directors, officers, employees, Sublicensees and distributors (the “CUBIST
        Indemnitees”)
        from
        and against any and all Losses resulting directly or indirectly from a claim
        of
        a Third Party with respect to: (i) a material breach of any of the provisions
        of
        this Agreement by XTL or any of its agents or employees; (ii) the negligence,
        recklessness, or willful misconduct by XTL or any of its agents or employees
        in
        the performance of any obligations of XTL under this Agreement; (iii) the
        infringement of any Third Party intellectual property right which such
        intellectual property is issued or published prior to the Effective Date
        caused
        by Obtaining Regulatory Approval, Commercialization, or the manufacture,
        use,
        promotion, marketing, sale, offer for sale, importation or exportation of
        HepeX-B in the Territory by CUBIST and its sublicensees or distributors;
        or (iv)
        the misappropriation of any Third Party intellectual property right by XTL
        or
        any of its agents or employees which is known after due and reasonable
        investigation as of the Effective Date.

      

      (c) XTL
        hereby agrees to defend, hold harmless and indemnify CUBIST Indemnitees from
        and
        against fifty percent (50%) of any and all Losses resulting directly or
        indirectly from a claim of a Third Party with respect to: (i) the infringement
        of any Third Party intellectual property right which such intellectual property
        is not issued or published prior to the Effective Date caused by Obtaining
        Regulatory Approval, Commercialization, and the manufacture, use, promotion,
        marketing, sale, offer for sale, importation or exportation of HepeX-B in
        the
        Territory by CUBIST and its Sublicensees or distributors; and (ii) the
        misappropriation of any Third Party intellectual property right by XTL or
        any of
        its agents or employees which is not known or knowable as of the Effective
        Date.

      

      (d) If
        either
        Party is seeking indemnification under this Section 11.3 in connection with
        a
        Third Party claim: (i) it shall inform the indemnifying Party of such Third
        Party claim giving rise to the obligation to indemnify as soon as reasonably
        practicable after receiving notice of the claim; (ii) except as provided
        in
        Section 11.3(d)(iii) with respect to claims under Section 11.3(b)(iii), Section
        11.3(b)(iv) or Section 11.3(c), the indemnifying Party shall have the right
        to
        assume the defense of, and take control of, any such Third Party claim for
        which
        it is obligated to indemnify the indemnified Party under this Section 11.3,
        the
        indemnified Party shall cooperate with the indemnifying Party (and its insurer)
        as the indemnifying Party may reasonably request, the indemnified Party shall
        have the right to participate, at its own expense and with counsel of its
        choice, in the defense of any claim or suit that has been assumed by the
        indemnifying Party, and neither Party shall have any obligation to indemnify
        the
        other Party in connection with any settlement made without the indemnifying
        Party’s written consent, provided that the indemnifying Party does not
        unreasonably withhold or delay any such written consent; and (iii) with respect
        to claims under Section 11.3(b)(iii), Section 11.3(b)(iv) or Section 11.3(c),
        CUBIST shall have the right to assume the defense of, and take control of,
        any
        such claim, XTL will cooperate with CUBIST as CUBIST may reasonably request,
        XTL
        shall have the right to participate, at its own expense and with counsel
        of its
        choice, in the defense of any such claim or suit that has been assumed by
        CUBIST, and XTL shall not have any obligation to indemnify CUBIST in connection
        with any settlement made without XTL’s written consent, provided that XTL does
        not unreasonably withhold or delay any such written consent.

      

      
        
           

        

        
          23

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      (e) Notwithstanding
        anything expressed or implied to the contrary in this Section 11, the amount
        of
        any Losses subject to indemnification shall be reduced by the amount of any
        insurance proceeds received by the indemnified Party with respect to such
        Losses; and there shall be no obligation under this Agreement to indemnify
        such
        indemnified Party for the amount of Losses so reduced.

      

      (f) XTL
        *****
        under
        its indemnification obligations as set forth in Section 11.3(b)(iii) and
        (iv)
        and under Section 11.3(c), or *****
        such
        that the *****
        are no
        less than the *****,
        until
        XTL’s indemnification payment obligations under Section 11.3(b)(iii) and (iv)
        and under Section 11.3(c) are *****.
        Interest shall begin to accrue on any such XTL payment obligations commencing
        as
        of the date first due at a rate determined in accordance with Section 10.8
        on
        any such amounts *****.
        XTL
        shall have no obligation to pay any amounts under its indemnification
        obligations as set forth in Section 11.3(b)(iii) and (iv) and under Section
        11.3(c) that have not been *****
        as of
        the termination or expiration of this Agreement.

      

      11.4 Limitation
        of Liability.
        EXCEPT
        (i) AS A RESULT OF ANY INFRINGEMENT BY A PARTY OF THE INTELLECTUAL PROPERTY
        RIGHTS OF THE OTHER PARTY, (ii) AS A RESULT OF THE FAILURE OF SUCH PARTY
        TO
        PERFORM AND OBSERVE ITS CONFIDENTIALITY OBLIGATIONS TO THE OTHER PARTY UNDER
        THIS AGREEMENT OR (iii) PURSUANT TO A PARTY’S INDEMNIFICATION OBLIGATIONS UNDER
        SECTION 11.3, NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY FOR LOST PROFITS
        OR FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, PUNITIVE OR EXEMPLARY
        DAMAGES OF THE OTHER PARTY IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS
        CONTEMPLATED BY THIS AGREEMENT, HOWEVER CAUSED, UNDER ANY THEORY OF
        LIABILITY.

      

      11.5 Insurance.
        XTL and
        CUBIST shall each procure and maintain insurance, including product liability
        insurance, adequate to cover its obligations hereunder and that are consistent
        with normal business practices of prudent companies similarly situated. It
        is
        understood that such insurance shall not be construed to create a limit of
        the
        Parties’ liability with respect to its indemnification obligations under this
        Section 11. CUBIST and XTL shall provide each other with written evidence
        of
        such insurance upon request (which evidence need not necessarily be insurance
        certificates). CUBIST and XTL shall provide the other with written notice
        at
        least ten (10) days prior to the cancellation, non-renewal or material change
        in
        such insurance that materially adversely affects the other Party’s rights
        hereunder.

      

      Section
        12. INTELLECTUAL
        PROPERTY.

      

      12.1 Inventions.
        (a) The
        entire right, title and interest in and to all discoveries, improvements,
        processes, formulas, data, inventions, enhancements, know-how and trade secrets,
        patentable or otherwise, that arise from activities under this Agreement
        or that
        are necessary or useful in connection with Obtaining Regulatory Approval,
        manufacture, marketing, promotion, sale, import or export of Products, and
        that
        were or are developed or invented: (i) solely by employees of CUBIST
        (“CUBIST
        Inventions”)
        shall
        be owned solely by CUBIST; (ii) solely by employees of XTL (“XTL
        Inventions”)
        shall
        be owned solely by XTL; and (iii) jointly by employees of CUBIST and XTL
        (“Joint
        Inventions”)
        shall
        be owned jointly by CUBIST and XTL; provided,
        however, that if the joint ownership by CUBIST and XTL of any Joint Invention
        conceived using technology funded in whole or in part by OCS (“OCS
        Technology”)
        would
        result in the transfer of any rights outside of Israel in breach or violation
        of
        Section 19b1 of the Israeli Encouragement of Development and Research in
        Industry Law, 1984, then such Joint Invention shall be solely owned by XTL,
        and
        XTL hereby grants to CUBIST, for any such Joint Invention: (A) an exclusive,
        perpetual, worldwide, irrevocable, fully paid up license (with the right
        to
        sublicense) to Obtain Regulatory Approval, make, have made, use, promote,
        market, sell, have sold, offer to sell, import or export Products, and (B)
        a
        co-exclusive perpetual, worldwide, irrevocable, fully paid up license (with
        each
        Party having the right to sublicense) for any and all other purposes.
        Notwithstanding anything to the contrary above, none of the foregoing shall
        serve to or require (x) CUBIST to assign or transfer, or otherwise relinquish,
        any of CUBIST’s right, title or interest in or to any CUBIST Invention, Joint
        Invention, CUBIST Patent, Joint Patent or CUBIST Know-How without the prior
        written consent of CUBIST, or (y) XTL to assign or transfer, or otherwise
        relinquish, any of XTL’s right, title or interest in or to any XTL Invention,
        Joint Invention, XTL Patent, Joint Patent or XTL Know-How without the prior
        written consent of XTL. Commencing as of the Effective Date, XTL shall not
        use
        any OCS Technology in the performance of its obligations under this Agreement
        unless prior to such use (1) XTL notifies CUBIST in writing of XTL’s intent to
        use OCS Technology, (2) XTL specifically identifies the OCS Technology
        contemplated to be used and the purpose for which XTL intends to use it,
        and (3)
        CUBIST gives its prior written consent to such use of such OCS Technology.
        Inventorship shall be determined in accordance with U.S. patent law. All
        clinical data collected pursuant to services paid for in whole or in part
        by
        CUBIST will be owned by CUBIST.

      

      
        
           

        

        
          24

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      (b) Notwithstanding
        anything to the contrary in this Agreement, in the case any CUBIST Invention,
        XTL Invention or Joint Invention is conceived through the use of the Licensed
        Technology or Licensed Patents (as such terms are defined under the XY
        Agreement) (excluding
        the human monoclonal antibody *****,
        as
        referred to and described in *****,
        and the
        human monoclonal antibody *****,
        as
        referred to and described in *****,
        including any portions or fragments thereof)
        (collectively the “Yeda
        Technology”),
        the
        parties shall not *****,
        which
        shall include the terms and conditions for such registration or use of the
        CUBIST Invention, XTL Invention or Joint Invention and relating to the ownership
        thereof. It is agreed, without derogating from the Consent Agreement, that
        commencing as of the Effective Date, XTL shall not use any Yeda Technology
        in
        the performance of its obligations under this Agreement unless prior to such
        use
        (i) XTL notifies CUBIST in writing of XTL’s intent to use Yeda Technology (in
        which case XTL shall also deliver a copy of such notice to Yeda), (ii) XTL
        specifically identifies the Yeda Technology contemplated to be used and the
        purpose for which XTL intends to use it, and (iii) CUBIST gives its prior
        written consent to such use of such Yeda Technology.
        

      

      12.2 Filing,
        Prosecution and Maintenance of Patents. (a)
        CUBIST
        shall be entitled to file, prosecute and maintain in the Territory all patent
        applications and patents that claim any CUBIST Inventions at its sole expense.
        

      

      (b) XTL
        agrees to file, prosecute and maintain the XTL Patents at its sole expense,
        provided,
        however,
        that
        XTL shall (i) use outside counsel reasonably acceptable to CUBIST,
        (ii)
        provide CUBIST with all material documentation and correspondence from, sent
        to
        or filed with patent offices in the Territory regarding any XTL Patent,
        (iii) provide CUBIST with a reasonable opportunity to review and comment
        upon all filings with such patent offices in advance of submissions to such
        patent offices, and (iv) shall consider, in good faith, incorporating any
        comments provided by CUBIST. In the event that XTL is unwilling, unable or
        otherwise fails to file or prosecute any XTL Patent in any country in the
        Territory, CUBIST shall have the right, but not the obligation, and

       

      XTL
        shall
        provide CUBIST with thirty (30) days written notice to permit CUBIST to,
        file,
        prosecute and/or maintain such XTL Patent in such country, and XTL shall
        execute
        such documents and perform such acts as may be reasonably necessary to allow
        CUBIST to file, prosecute and maintain such XTL Patent in such country in
        a
        timely manner; provided
        that in
        any event any such XTL Patents shall always be registered in XTL’s name or in
        the name of the relevant licensor of XTL as identified in writing to CUBIST
        by
        XTL. 

      

      (c) With
        respect to all filings, prosecution and maintenance of any Patent pursuant
        to
        this Section 12.2, the filing Party shall be responsible for payment of all
        costs and expenses related to such Patent filing, prosecution or maintenance.
        

      

      (d) With
        respect to any Joint Inventions, CUBIST shall have the first right to file,
        prosecute and maintain in the Territory, upon appropriate consultation with
        XTL,
        Patents that claim or cover any Joint Invention (a “Joint
        Patent”);
        however,
        in the
        event that CUBIST elects not to file any patent application in the Territory
        with respect to any Joint Invention, XTL shall have such right and upon exercise
        by XTL of such right, XTL shall have the right to prosecute and maintain
        in the
        Territory, upon appropriate consultation with CUBIST, the Joint Patents to
        which
        such Joint Invention relates. Each of XTL and CUBIST shall execute such
        documents and perform such acts as may be reasonably necessary to allow CUBIST,
        in the first instance, and XTL, in the second instance, to file, prosecute
        and
        maintain Joint Patents in any country within the Territory in a timely basis.
        CUBIST shall promptly give notice to XTL of the grant, lapse, revocation,
        surrender, invalidation or abandonment in the Territory of any Joint Patent
        being prosecuted by CUBIST. XTL shall promptly give notice to CUBIST of the
        grant, lapse, revocation, surrender, invalidation or abandonment of any Joint
        Patent being prosecuted by XTL.

      
        
           

        

        
          25

          
            

          

        

         

      

       

      12.3 Option
        of the Parties to Prosecute and Maintain Patents.
        Each
        Party shall give notice to the other Party of any desire to cease prosecution
        of
        patent applications and/or maintenance in the Territory of XTL Patents that
        such
        Party is then prosecuting or maintaining, and, in such case, shall permit
        the
        other Party, in its sole discretion, to continue such prosecution or maintenance
        in the Territory at its own expense. If the other Party then elects to continue
        prosecution or maintenance in the Territory, each Party shall execute such
        documents and perform such acts as may be reasonably necessary to allow
        continuation of such prosecution or maintenance in the Territory.

      

      12.4 Legal
        or Administrative Proceedings.
        (a) Each
        Party shall, within ten (10) days of learning of such event, inform the other
        of
        any request for, or filing or declaration of, any interference, opposition,
        reexamination, revocation, nullity proceeding or declaration of non-infringement
        and/or invalidity, whether by administrative or legal proceeding, sounding
        in
        equity or in law (or the equivalent of any of the foregoing), whether initiated
        by a Third Party or any patent office, in the Territory relating to any XTL
        Patent. XTL and CUBIST shall thereafter consult and cooperate fully to determine
        a course of action with respect to any such proceeding. Each Party shall
        have
        the right to review and comment upon any submission to be made in connection
        with such proceeding and the Party responsible for prosecuting or maintaining
        the Patent at issue in such proceeding shall consider, in good faith,
        incorporating any comments provided by the other Party.

      

      (b) Neither
        Party shall initiate any reexamination, interference, reissue, revocation,
        nullity or declaration of non-infringement proceeding in the Territory with
        respect to XTL Patents or Joint Patents without the prior written consent
        of the
        other Party. 

      

      (c) In
        connection with any interference, opposition, reexamination, revocation,
        nullity
        proceeding or declaration of non-infringement and/or invalidity, whether
        by
        administrative or legal proceeding, sounding in equity or in law (or the
        equivalent of any of the foregoing), whether initiated by a Third Party or
        any
        Patent Office, in the Territory relating to any XTL Patent or Joint Patent,
        XTL
        and CUBIST will cooperate fully and will provide each other with any information
        or assistance that either may reasonably request. The Parties shall keep
        each
        other informed of developments in any such action or proceeding, including
        to
        the extent permissible by law and contracts, the status of any settlement
        negotiations and the terms of any offer related thereto.

      

      (d) XTL,
        in
        the case of XTL Patents, shall bear the expense of any interference, opposition,
        reexamination, revocation, nullity proceeding or declaration of non-infringement
        and/or invalidity, whether by administrative or legal proceeding, sounding
        in
        equity or in law (or the equivalent of any of the foregoing), whether initiated
        by a Third Party or any Patent Office, relating thereto. The expenses of
        any
        interference, opposition, reexamination, revocation, nullity proceeding or
        declaration of non-infringement and/or invalidity, whether by administrative
        or
        legal proceeding, sounding in equity or in law (or the equivalent of any
        of the
        foregoing), whether initiated by a Third Party or any Patent Office, with
        respect to Joint Patents shall be shared equally by the Parties.

      

      (e) This
        Section 12.4 applies to any proceeding before the United States Patent and
        Trademark Office or
        similar patent authority in the Territory and to any proceeding before a
        court,
        arbitration panel or similar body of competent jurisdiction.

      

      12.5 Enforcement.
        (a) Either
        Party shall give written notice to the other Party of (i) any actual, alleged
        or
        threatened infringement of any XTL Trademark or CUBIST Trademark or of any
        unfair trade practices, trade dress imitation, passing off of counterfeit
        goods,
        or like offenses, or any such claims brought by a Third Party against a Product
        (hereinafter “TM
        Infringement”),
        (ii)
        any infringement of any XTL Patent and/or CUBIST Patent, and/or Joint Patent,
        and (iii) any misappropriation or misuse of XTL Know-How and/or CUBIST Know-How
        and/or Joint Inventions; in each case that such Party has knowledge of. XTL
        and
        CUBIST shall thereafter consult and cooperate fully to determine a course
        of
        action, including but not limited to the commencement of legal action by
        either
        or both XTL and CUBIST, to terminate any infringement of XTL Patents Joint
        Patents, or Joint Inventions or to terminate any misappropriation or misuse
        of
        XTL Know-How. CUBIST shall have the first right to initiate and prosecute
        legal
        action anywhere in the Territory, at CUBIST’s expense and in its own name, and,
        as necessary, in the name of XTL, with respect to XTL Patents, XTL Know-How,
        Joint Patents, and Joint Inventions. Subject to the provisions of this Section
        12.5, CUBIST shall control and conduct such legal action in its sole discretion,
        including without limitation, the terms and conditions of any settlement.
        In the
        event that CUBIST notifies XTL in writing that it elects not to initiate
        and/or
        prosecute any such legal action, or if CUBIST does not take material action
        to
        abate any such actual, alleged or threatened infringement within ninety (90)
        days after the date of notice to CUBIST of such actual, alleged or threatened
        infringement, XTL shall thereafter have the right to initiate and prosecute
        such
        action in the Territory in its own name.

      

      
        
           

        

        
          26

          
            

          

        

         

         

      

      (b) For
        any
        infringement action concerning XTL Patents or Joint Patents or any
        misappropriation or misuse of XTL Know-How or Joint Inventions, in the event
        that CUBIST elects to initiate or prosecute such action but is unable to
        do so
        solely in its own name, XTL will join such action voluntarily, and at CUBIST’s
        expense, will execute all documents necessary for CUBIST to initiate, prosecute
        and/or maintain such action. In the event that XTL elects to be represented
        by
        its own counsel in connection with any matter pertaining to such action,
        XTL
        shall pay all of the costs and expenses of its own counsel. In connection
        with
        any such action, XTL and CUBIST will cooperate fully and will provide each
        other
        with any information or assistance that either may reasonably request,
provided,
        however,
        CUBIST
        shall control and conduct such legal action in its sole discretion, including
        without limitation, the terms and conditions of any settlement. The Parties
        shall keep each other informed of developments in any such action or proceeding,
        including to the extent permissible by law and contracts, the status of any
        settlement negotiations and the terms of any offer related thereto.

      

      (c) Any
        recovery of damages or an award received by either or both of XTL and CUBIST
        in
        connection with or as a result of any action contemplated by this Section
        12.5
        or Section 12.6 below, whether by settlement or otherwise, shall be shared
        in
        order as follows:

      

      (i) the
        Party
        or Parties that prosecuted the action shall recoup all of its or their costs
        and
        expenses incurred in connection with the action;

      

      (ii) the
        other
        Party (to the extent that it did not prosecute the action) shall then, from
        funds remaining, recover its costs and expenses incurred in connection with
        the
        action to the extent that such costs and expenses are reasonably incurred
        to
        comply with such Party’s obligations under Section 12.5 or to the extent that
        such other Party participates in the prosecution of such action but not as
        a
        party thereto; and

      

      (iii) any
        amount remaining shall be included for royalty payment purposes under Section
        10.1 within Net Sales in Patent Countries for the royalty period in which
        such
        amount was received.

      

      12.6 Avoidance
        of Third Party Infringement Claims.
        If
        a
        Product becomes the subject of a claim by a Third Party that the activities
        undertaken to Obtain Regulatory Approval, manufacture, use, sell, Commercialize
        or export or import Product constitutes, causes or results in infringement
        of
        any patent rights of such Third Party or other related intellectual property
        rights (any such claim, a “Third
        Party Infringement Claim”),
        the
        Party first having notice of such Third Party Infringement Claim shall promptly
        notify the other Party. In the event that there is a Third Party Infringement
        Claim that arises from the use or practice of any XTL Patents or XTL Know-How
        in
        connection or associated with the activities undertaken to Obtain Regulatory
        Approval, manufacture, use, sell, offer for sale, Commercialize, export or
        import Product, the Parties shall confer in good faith as promptly as
        practicable after both Parties become aware of such Third Party Infringement
        Claim as to whether it is feasible to alter their approach to their activities
        with respect to the Product so as to avoid such Third Party Infringement
        Claim
        without adversely affecting their rights under this Agreement. In the event
        the
        Parties determine in good faith that it is feasible to alter their approach
        to
        such activities without adversely affecting their rights under this Agreement,
        the Parties shall implement such alternative approach to such activities.
        

      

      12.7 Patent
        Term Restoration and Regulatory Data Exclusivity.
        The
        Parties shall cooperate with each other in obtaining patent term restoration
        or
        extension, supplementary protection certificates, or their equivalents, with
        respect to XTL Patents, CUBIST Patents, Joint Patents, and regulatory data
        exclusivity and the like, with respect to HepeX-B, in the
        Territory.

      

      12.8 Patent
        Marking.
        CUBIST
        shall mark all Products sold with appropriate patent numbers or indicia at
        XTL’s
        request to the extent required and/or permitted by law.

      

      12.9 Trademarks. (a)
        CUBIST
        shall have the right to determine appropriate trademark, trade dress and
        other
        related intellectual property usage in connection with marketing Products
        under
        this Agreement. CUBIST shall have the exclusive right to use any trademarks
        in
        connection with marketing Products under this Agreement in the Territory.
        

      

      (b) XTL
        agrees to file, prosecute and maintain the XTL Trademarks at its sole expense,
        provided,
        however,
        that
        XTL shall (i) use outside counsel reasonably acceptable to CUBIST,
        (ii)
        provide CUBIST with all material documentation and correspondence from, sent
        to
        or filed with trademark offices in the Territory regarding any XTL Trademark,
        (iii) provide CUBIST with a reasonable opportunity to review and comment
        upon all filings with
        such
        trademark offices in advance of submissions to such patent offices, and (iv)
        shall consider, in good faith, incorporating any comments provided by CUBIST.
        In
        the event that XTL is unwilling, unable or otherwise fails to file or prosecute
        any XTL Trademark in any country in the Territory, XTL shall provide CUBIST
        with
        thirty (30) days notice to permit CUBIST to file, prosecute and/or maintain
        such
        XTL Trademark in such country, and XTL shall execute such documents and perform
        such acts as may be reasonably necessary to allow CUBIST to file, prosecute
        and
        maintain such XTL Trademark in such country in a timely manner.

      

      
        
           

        

        
          27

          
            

          

        

         

         

      

      (c) With
        respect to all filings, prosecution and maintenance of any Trademark pursuant
        to
        this Section 12.9, the filing Party shall be responsible for payment of all
        costs and expenses related to such Trademark filing prosecution or
        maintenance.

      

      12.10 Third
        Party Licenses. (a)
        The
        Parties shall confer and discuss whether any license from a Third Party is
        necessary or advisable to avoid, settle, resolve or satisfy any claim that
        the
        activities to Obtain Regulatory Approval, make, have made, use, promote,
        market,
        sell, have sold, offer to sell, import or export HepeX-B by CUBIST or its
        Sublicensees in any country within the Territory infringes or misappropriates
        any intellectual property rights of such Third Party. Prior to September
        30,
        2004, the Parties shall confer and agree upon a strategy as to how to address
        any Third Parties, if any, then known to the Parties from whom it would be
        necessary or advisable to obtain a license to avoid, settle resolve, or satisfy
        any claim that the activities to Obtain Regulatory Approval, Commercialize,
        manufacture, use, promote, market, sell, offer, import or export of HepeX-B
        by
        CUBIST or its Sublicensees in any country within the Territory infringes
        or
        misappropriates any intellectual property rights of such Third Party (the
        “Strategy”).
        To
        assist in devising the Strategy, CUBIST shall engage the services of a
        nationally recognized law firm with sufficient knowledge and expertise in
        the
        field of patent rights. If the parties, after good faith discussion and due
        consideration of the input of such law firm, are unable to mutually agree
        upon
        the Strategy, then CUBIST may, acting in good faith, make final decisions
        with
        respect to devising the Strategy. The Strategy may be modified from time
        to time
        pursuant to the mutual agreement of the Parties; provided
        that if
        the parties, after good faith discussion and due consideration of the input
        from
        the above-referenced law firm, are unable to mutually agree, then CUBIST
        may,
        acting in good faith, make final decisions with respect to revising the
        Strategy.

      

      (b) CUBIST
        shall be responsible for obtaining licenses identified in the Strategy on
        commercially reasonable terms. CUBIST will provide XTL with five (5) business
        days to review and *****
        the
        scope of such license is reasonably limited to permit CUBIST to exercise
        its
        rights and licenses under, and its activities under and pursuant to, this
        Agreement to Obtain Regulatory Approval, make, have made, use, promote, market,
        sell, have sold, offer to sell, import, export, and Commercialize HepeX-B,
        and
        whether such license contains commercially reasonable terms; such *****.
        If XTL
        does not *****
        within
        such *****,
        XTL
        will be deemed to have *****.
        CUBIST
        shall pay all amounts required to be paid to the Third Parties pursuant to
        such
        licenses described in Section 12.10(b). If and to the extent practicable,
        CUBIST
        shall endeavor to use reasonable efforts to obtain a clause in any such license
        permitting assignment of such license to XTL; provided
        that in
        no event shall CUBIST be in breach of this Agreement or in any way otherwise
        liable for any failure to obtain any such assignment clause in any such license;
        and further
        provided
        that
        CUBIST will have no obligation to include or accept an assignment clause
        that
        requires CUBIST to retain or incur any further liability under such license
        subsequent to such assignment. XTL may not reject any such license due to
        the
        failure of such license to contain such assignment clause as contemplated
        under
        this Section 12.10(b).

      

      (c) With
        respect to licenses obtained pursuant to Section 12.10(b) which were
*****,
        or with
        respect to which *****
        (“Approved
        Third Party Licenses”)
        wherein the intellectual property rights were described in an issued patent
        or
        published in a patent application as of the Effective Date, unless with respect
        to any such licenses that were not mutually agreed-upon in the Strategy,
        XTL
        obtains a Legal Opinion, at XTL’s expense, that is in form and substance
        reasonably acceptable to CUBIST (provided
        that
        CUBIST must notify XTL within thirty (30) days after receipt of the executed
        Legal Opinion if CUBIST deems such Legal Opinion to not be reasonably
        acceptable), CUBIST shall have the right to reduce milestone and royalty
        payments otherwise owed to XTL pursuant to Sections 9 and 10 by the amounts
        paid
        to such Third Parties for such licenses such that the reduced milestone and
        royalty payments are no less than the *****.
        In the
        event that CUBIST cannot fully offset such amounts against milestone and
        royalty
        payments otherwise owed to XTL, unless paid by XTL, interest shall begin
        to
        accrue as of the date CUBIST first makes such payment to such Third Party
        at a
        rate determined in accordance with Section 10.8 on any such amounts not able
        to
        be offset. CUBIST will reasonably cooperate with the law firm agreed to by
        the
        Parties to provide such information as may be reasonably necessary to enable
        the
        law firm to render its opinion.

      

      After
        a
        Change of Control of CUBIST, (i) amounts previously paid by CUBIST with respect
        to the licenses described under this Section 12.10(c), plus any accrued interest
        through the date of the Change of Control, and not yet paid by XTL or offset
        pursuant to this Section 12.10(c), will continue to be offset against milestone
        and royalty payments otherwise owed to XTL pursuant to Sections 9 and 10
        before
        any other offsets pursuant to this Agreement; provided
        that
        such milestones and royalties shall not be reduced by more than fifty percent
        (50%), (ii) only fifty percent (50%) of amounts required to be paid by CUBIST
        pursuant to such licenses after a Change of Control of CUBIST shall be offset
        against milestone and royalty payments otherwise owed to XTL pursuant to
        Sections 9 and 10 before any other offsets pursuant to this Agreement;
provided
        that
        such milestones and royalties shall not be reduced by more than fifty percent
        (50%), and (iii) interest shall cease to accrue on all amounts paid by CUBIST
        pursuant to the licenses obtained or to be obtained under this Section 12.10(c)
        but not otherwise offset as permitted under this Agreement.

      

      
        
           

        

        
          28

          
            

          

        

         

         

      

      (d) With
        respect to Approved Third Party Licenses wherein the intellectual property
        rights were neither described in an issued patent nor published in a patent
        application as of the Effective Date, unless with respect to any such licenses
        that were not mutually agreed-upon in the Strategy, XTL obtains a Legal Opinion,
        at XTL’s expense, that is in form and substance reasonably acceptable to CUBIST
        (provided
        that
        CUBIST must notify XTL within thirty (30) days after receipt of the executed
        Legal Opinion if CUBIST deems such Legal Opinion to not be reasonably
        acceptable), CUBIST shall have the right to reduce milestone and royalty
        payments otherwise owed to XTL pursuant to Sections 9 and 10 by fifty percent
        (50%) of the amounts paid to such Third Parties for such licenses such that
        the
        reduced milestone and royalty payments are no less than the XTL Licensor
        Payments. In the event that CUBIST cannot fully offset such amounts against
        milestone and royalty payments otherwise owed to XTL, unless paid by XTL,
        interest shall begin to accrue as of the date CUBIST first makes such payment
        to
        such Third Party at a rate determined in accordance with Section 10.8 on
        any
        such amounts not able to be offset. CUBIST will reasonably cooperate with
        the
        law firm agreed to by the Parties to provide such information as may be
        reasonably necessary to enable the law firm to render its opinion.

      

      After
        a
        Change of Control of CUBIST, (i) amounts previously paid by CUBIST with respect
        to the licenses described under this Section 12.10(d), plus any accrued interest
        through the date of the Change of Control, and not yet paid by XTL or offset
        pursuant to this Section 12.10(d), will continue to be offset against milestone
        and royalty payments otherwise owed to XTL pursuant to Sections 9 and 10
        before
        any other offsets pursuant to this Agreement; provided
        that
        such milestones and royalties shall not be reduced by more than fifty percent
        (50%), and (ii) interest shall cease to accrue on all amounts paid by CUBIST
        pursuant to the licenses obtained or to be obtained under this Section 12.10(d)
        but not otherwise offset as permitted under this Agreement.

      

      (e) XTL
        shall
        have no obligation to pay any amounts incurred by CUBIST pursuant to the
        Third
        Party licenses obtained under this Section 12.10, which amounts have not
        been
        offset against milestone and royalty payments as of the termination or
        expiration of this Agreement.

       

      12.11 Limitation.
        Notwithstanding
        any other provision in this Section 12, except with respect to the Patents
        listed in Exhibit
        A,
        (a)
        neither Party shall be obligated to prepare, file, prosecute and maintain
        Patents, or to bring or pursue
        enforcement proceedings or defend declaratory judgment actions under this
        Section 12 if, and to the extent that, such Party is not entitled to do so
        under
        its licenses from Third Parties, and (b) any rights conveyed under this Section
        12 permitting a Party to prepare, file, prosecute and maintain certain Patents,
        or to bring and pursue enforcement proceedings, or defend declaratory judgment
        actions shall be subject to all applicable licenses from Third Parties, and
        are
        conveyed only to the extent permitted under such agreements. With respect
        to
        Patents Controlled by XTL after the Effective Date, XTL shall promptly notify
        CUBIST in writing if XTL is not entitled under its licenses to such Patents
        from
        Third Parties to perform the activities listed in (a) above, or if any rights
        listed in (b) above that have been conveyed to CUBIST are restricted by XTL’s
        licenses from Third Parties to such Patents.

      

      Section
        13. TERM
        AND TERMINATION.
        

      

      13.1 Term.
        This
        Agreement shall be effective as of the Effective Date and remain in effect
        until
        the earlier of (a) the effective date of termination pursuant to Section
        13.2 or
        Section 13.3 below, and (b) the expiration of the term of this Agreement
        on the
        date on which CUBIST is no longer obligated, pursuant to this Agreement,
        to make
        payment to XTL of any royalties in connection with sales of Products in the
        Territory. In the event that the term of this Agreement expires pursuant
        to
        clause (b) of this Section 13.1, then the licenses granted
        by XTL to
        CUBIST shall survive such expiration and shall be fully paid-up, royalty-free,
        perpetual and irrevocable licenses. 

      

      13.2 Termination
        by CUBIST. (a)
        This
        Agreement may be terminated by CUBIST at any time during the term of this
        Agreement for any reason or no reason if CUBIST gives at least one hundred
        and
        eighty (180) days prior written notice of termination to XTL. 

      

      
        
           

        

        
          29

          
            

          

        

         

         

      

      (b) CUBIST
        may terminate this Agreement upon twenty (20) days’ prior written notice to XTL
        if (i) in CUBIST’s judgment continuation of the activities contemplated
        hereunder is inappropriate, impractical, or inadvisable either for reasons
        of
        safety or efficacy; or (ii) the emergence of any adverse event or side effect
        with the Product is of such magnitude or incidence in the opinion of CUBIST
        to
        support termination. Upon CUBIST’s delivery of such notice to XTL, CUBIST shall
        have no further obligations under this Agreement except as provided under
        Section 13.5.

      

      (c) CUBIST
        may terminate this Agreement pursuant to this Section 13.2 on a Product by
        Product or country by country basis.

      

      13.3 Termination
        By Either Party Upon Bankruptcy or Insolvency.
        This
        Agreement may be terminated in its entirety by either Party by giving written
        notice of termination to the other Party in the event that such other Party
        files or institutes any bankruptcy, liquidation or receivership proceedings,
        or
        in the event that such other Party makes an assignment of a substantial portion
        of the assets of such other Party for the benefit of its creditors; provided,
        however, that, in the case of any involuntary bankruptcy proceeding such
        right
        to terminate shall only become effective if such other Party consents to
        the
        involuntary bankruptcy or such proceeding is not dismissed within sixty (60)
        days after the filing thereof.

      

      13.4 Termination
        for Breach. (a)
         
        If either Party (the “Non-Breaching
        Party”)
        believes that the other Party (the “Breaching
        Party”)
        is in
        material breach of this Agreement with respect to one or more Products, then
        the
        Non-Breaching Party may deliver notice of such breach to the Breaching Party.
        The Breaching Party shall have thirty (30) days to cure such breach;
provided
        that, if
        cure cannot be reasonably effected within such thirty (30) day period, the
        Breaching Party may elect to deliver to the Non-Breaching Party within such
        thirty (30) day period a plan to cure such breach within a timeframe that
        is
        reasonably prompt in light of the circumstances then prevailing, and the
        Non-Breaching Party shall have the right to approve or reject in writing
        such
        proposed plan in its absolute discretion. If the Non-Breaching Party approves
        in
        writing such proposed plan, then the cure period will be extended in accordance
        with the terms of such plan and the Breaching Party shall use Commercially
        Reasonable Efforts to carry out such plan and cure the breach in
        accordance with the provisions of such plan. 

      

      (b)
         
        If the Breaching Party fails to cure such breach as provided for in
        Section 13.4(a), the Non-Breaching Party may terminate this Agreement
        either in its entirety or with respect to one or more Products upon written
        notice to the Breaching Party; provided
        that,
        the Non-Breaching Party gives such written notice of termination within six
        (6)
        months after the Breaching Party has failed to cure such breach as provided
        for
        in Section 13.4(a).

      

      (c)
         
        If the Non-Breaching Party gives notice of termination under this
        Section 13.4 and the Breaching Party disputes whether such termination
        is
        proper under this Section 13.4, then the issue of whether this Agreement
        may properly be terminated upon expiration of the notice period (unless such
        breach is cured as provided in Section 13.4(a)) shall be resolved
        in
        accordance with Section 14 (Dispute Resolution). If as a result of
        such
        dispute resolution process it is determined that the notice of termination
        was
        proper, then such termination shall be deemed to have been effective thirty
        (30)
        days following the date of the notice of termination. If as a result of such
        dispute resolution process it is determined that the notice of termination
        was
        improper, then no termination shall have occurred and this Agreement shall
        remain in effect. 

      

      13.5 Effect
        of Expiration or Termination of this Agreement.
        (a)
        In the
        event of termination or expiration of this Agreement, then, except to the
        extent
        otherwise provided in this Section 13.5(a) and Section 13.5(f) below, neither
        Party shall have any liability or obligation to the other Party under this
        Agreement. Notwithstanding the foregoing sentence, the licenses granted to
        CUBIST under Section 2 shall survive expiration of this Agreement pursuant
        to
        Section 13.1(b), and in such event, such licenses shall be deemed to be fully
        paid up, irrevocable and perpetual.

      

      (b) In
        the
        event that CUBIST terminates this Agreement pursuant to Section 13.4, then
        this
        Agreement shall terminate, and, except to the extent otherwise provided in
        Section 13.5(f) below, neither Party shall have any liability or obligation
        to
        the other Party under this Agreement. 

      

      (c) In
        the
        event that CUBIST terminates this Agreement pursuant to Section 13.2, or
        in the
        event that XTL terminates this Agreement pursuant to Section 13.4, then this
        Agreement shall terminate, and, except to the extent otherwise provided in
        this
        Section 13.5(c), Section 13.5(d) and Section 13.5(f) below, neither Party
        shall
        have any further liability or obligation to the other Party under this
        Agreement, including with respect to Section 9 and Section 10. The licenses
        granted to CUBIST under Section 2 shall terminate. Notwithstanding anything
        to
        the contrary in this Section 13.5(c), in the event that CUBIST terminates
        this
        Agreement pursuant to Section 13.2 or XTL terminates this Agreement pursuant
        to
        Section 13.4, CUBIST shall have the right to sell in the Territory all of
        its
        inventory of Products for a period of twelve (12) months from the effective
        date
        of termination, subject to CUBIST’s payment obligations under Section
        10.

      

      
        
           

        

        
          30

          
            

          

        

         

         

      

      (d) If
        requested by XTL within ten (10) days after the effective date of a termination
        pursuant to Section 13.2 or a termination by XTL pursuant to Section 13.4,
        either with respect to this Agreement in its entirety, or with respect to
        a
        particular Product in one or more countries, CUBIST will: (i) transfer to
        XTL
        all INDs, Regulatory Approval applications, Regulatory Approvals and orphan
        drug
        designations for such terminated Products in the terminated countries in
        effect
        as of the time of any such termination, (ii) subject to the scope of use
        limitations described in clause (iii) below, provide to XTL a copy of all
        information, data, records and reports (but specifically excluding know-how
        of
        CUBIST and CUBIST Patents) in Cubist's Control created or obtained in the
        performance of CUBIST's or XTL’s activities under this Agreement that are
        directly related to the Products (or in the event of a termination with respect
        to a particular Product, such terminated Product) and necessary or reasonably
        useful for XTL to
        Obtain
        Regulatory Approval and Commercialize the
        Products (or in the event of a termination with respect to a particular Product,
        such terminated Product) in the terminated countries (collectively, the
“Data”),
        and
        (iii) grant to XTL a non-exclusive license in the terminated countries in
        and to
        the Data solely for the purpose of using and incorporating the Data in its
        applications for and in the maintenance of Regulatory Approval of Products
        (or
        in the event of a termination with respect to a particular Product, such
        terminated Product) within the terminated countries and to Obtain Regulatory
        Approval, manufacture and Commercialize Products (or in the event of a
        termination with respect to a particular Product, such terminated Product)
        in
        the terminated countries, and (iv) if permitted under any Third Party licenses
        obtained by CUBIST after the Effective Date pursuant to the Strategy, CUBIST
        will assign to XTL such licenses, or if any such license covers countries
        other
        than the terminated countries will grant to XTL a sublicense under such license
        with respect to the terminated countries, to Obtain Regulatory Approval,
        make,
        have made, use, promote, market, sell, have sold, offer to sell, import
        or export HepeX-B in the terminated countries; provided
        that if
        any such license requires consents of the Third Party licensor to effect
        such
        assignment, CUBIST will request such consent and if such consent is not provided
        or is otherwise qualified, CUBIST will have no obligation to assign such
        license. In addition, upon any such termination, CUBIST shall either (y)
        negotiate in good faith with XTL to enter into an agreement to supply such
        terminated Product to XTL on commercially reasonable terms, or (z) if such
        termination terminated this Agreement in its entirety, provide to XTL all
        biological materials in CUBIST’s Control created or obtained under this
        Agreement with respect to Products (subject to CUBIST’s sell-off rights with
        respect to inventory under Section 13.5(c)), and a copy of all information,
        data, records and reports (but specifically excluding know-how of CUBIST
        and
        CUBIST Patents) in Cubist's Control created or obtained in the performance
        of
        CUBIST's or XTL’s activities under this Agreement that are directly related to
        the terminated Products and necessary or reasonably useful for XTL to
        manufacture such terminated Products, and such data and information shall
        be
        deemed to be included within the Data. Notwithstanding
        the foregoing, CUBIST will have no obligation to assign or otherwise transfer
        to
        XTL any INDs, Regulatory Approval applications, Regulatory Approvals or orphan
        drug designations if any of the foregoing are in effect with respect to any
        country other than the terminated countries. XTL and CUBIST will negotiate
        in
        good faith with respect to mutually agree upon reasonable and appropriate
        compensation to CUBIST for the commercial value received as a result of the
        transfers and licenses provided as set forth in this Section 13.5(d); if
        the
        Parties are unable to so mutually agree within ninety (90) days after the
        effective date of termination of this Agreement the Parties shall refer the
        matter to the dispute resolution process set forth in Section 14, and in
        any
        arbitration, the arbitrator will take into consideration, among other factors,
        the investment of CUBIST in creating or obtaining the Data and the Parties’
        investment in obtaining such transferred INDs, Regulatory Approval applications,
        Regulatory Approvals and orphan drug designations, and amounts paid by CUBIST
        but offset under Section 10.4 with respect to any assigned Third Party licenses.
        

      

      (e) In
        the
        event this Agreement is terminated due to the rejection of this Agreement
        by or
        on behalf of a Party under Section 365 of the United States Bankruptcy Code
        (the
“Code”),
        and
        the equivalent provisions, if any, of the bankruptcy laws of other countries
        in
        which CUBIST exercises the license granted hereunder, all licenses and rights
        to
        licenses granted under or pursuant to this Agreement by one Party to the
        other
        are, and shall otherwise be deemed to be, for purposes of Section 365(n)
        of the
        Code, and any such equivalent law, licenses of rights to “intellectual property”
        as defined under Section 101(35A) of the Code. The Parties agree that the
        licensed Party, as a licensee of such rights under this Agreement, shall
        retain
        and may fully exercise all of its rights and elections under the Code, and
        any
        such equivalent law, and that upon commencement of a bankruptcy proceeding
        by or
        against a Party under the Code, the other Party shall be entitled to a complete
        duplicate of or complete access to, any such intellectual property and all
        embodiments of such intellectual property. Such intellectual property and
        all
        embodiments thereof shall be promptly delivered to the other Party (i) upon
        any
        such commencement of a bankruptcy proceeding upon written request therefor
        by a
        Party, unless the Party elects to continue to perform all of its obligations
        under this Agreement or (ii) if not delivered under (i) above, upon the
        rejection of this Agreement by or on behalf of the Party upon written request
        therefor. The foregoing is without prejudice to any rights either Party may
        have
        arising under the Code or other applicable law. 

      

      
        
           

        

        
          31

          
            

          

        

         

         

      

      (f) Termination
        of this Agreement shall not relieve either Party of any obligation of such
        Party
        accruing prior to such termination. Any termination of this Agreement shall
        be
        without prejudice to the rights of either Party against the other accrued
        or
        accruing under this Agreement prior to termination. The provisions of Section
        1,
        Section 8.2, Section 8.3, Section 8.4, Section 11.3, Section 11.4, Section
        12.1,
        Section 13, Section 14 and Section 15 shall survive the termination of this
        Agreement. Section 8.1 and Section 8.5 shall survive termination of this
        Agreement for a period of five (5) years.

      

      (g) CUBIST
        shall reimburse XTL for all non-cancelable out-of-pocket expenses XTL incurs
        after a termination of this Agreement (by CUBIST pursuant to Section 13.2,
        or by
        XTL pursuant to Section 13.4) with respect to Third Party service providers
        contracted by XTL to assist in the performance of XTL’s obligations hereunder;
provided
        that (i)
        such obligations are set forth in a written agreement between XTL and such
        Third
        Party service provider, (ii) the terms and provisions of such written agreement,
        including those relating to such non-cancelable expenses, are commercially
        reasonable, (iii) XTL has used commercially reasonable efforts to minimize
        such
        non-cancelable expenses; and (iv) such non-cancelable expenses relate solely
        and
        directly to the performance of XTL obligations under this
        Agreement.

      

      Section
        14. DISPUTE
        RESOLUTION.

      

      14.1 Escalation.
        The
        Parties recognize that disputes as to certain matters may from time to time
        arise during the term of this Agreement which relate to either Party’s rights
        and/or obligations hereunder. It is the objective of the Parties to establish
        procedures to facilitate the resolution of disputes arising under this Agreement
        in an expedient manner by mutual cooperation and without resort to litigation.
        To accomplish this objective, the Parties agree to follow the procedures
        set
        forth in this Section 14.1 if and when a dispute arises under this Agreement.
        Any dispute arising under this Agreement shall, by either Party providing
        written notice to the other Party, be referred to the respective chief executive
        officers of the Parties for attempted resolution by good faith negotiations
        within fourteen (14) days after such notice is received. In the event that
        the
        designated officers are not able to resolve such dispute within such fourteen
        (14) day period, and do not agree to extend the time period for resolving
        the
        dispute, or if the terms and conditions of the resolution or settlement of
        the
        dispute are breached, the dispute shall be submitted for mediation by a mutually
        acceptable Third Party within thirty (30) days after expiration of the previous
        fourteen (14) day period, unless the Parties agree to extend the period for
        submitting the dispute for mediation. In the event that such dispute is not
        resolved within thirty (30) days after such dispute is submitted for mediation,
        unless the parties otherwise agree to extend the time period for resolving
        the
        dispute, then such dispute shall be resolved by arbitration pursuant to the
        provisions of Section 14.2. Pending resolution of any dispute covered by
        this
        Section 14.1, both Parties will continue their performance under this Agreement
        of any obligations (including, without limitation, payment obligations) that
        are
        not the subject of such dispute.

      

      14.2 Arbitration.
        (a)
        Any
        claim, dispute, or controversy arising out of or relating to this Agreement
        that
        is not resolved in accordance with the provisions of Section 14.1 and that
        the
        Parties agree to submit to binding arbitration pursuant to this Section 14.2
        will be submitted by the parties to arbitration under rules then in effect
        (“ICC
        Rules”)
        of the
        International Chamber of Commerce (“ICC”)
        in New
        York City, New York, U.S.A. as modified herein or by agreement of the Parties.
        Any such arbitration shall be conducted in New York City, New York, U.S.A.
        by
        three (3) arbitrators. Each Party shall select one (1) arbitrator and such
        arbitrators shall jointly appoint the third arbitrator who shall act as the
        chairman. If either Party fails to appoint an arbitrator within thirty (30)
        days
        of a request by the other Party, or if the arbitrators selected by the parties
        cannot agree on a chairman within thirty (30) days after they have been
        selected, then either Party may request the ICC to appoint such co-arbitrator
        (for the non-responsive Party) or the chairman. Such appointment shall be
        binding on the Parties. Each Party irrevocably and unconditionally (i) consents
        to the jurisdiction of any such proceeding and waives any objection that
        it may
        have to personal jurisdiction or the laying of venue of any such proceeding;
        and
        (ii) knowingly and voluntarily waives its rights to have disputes tried and
        adjudicated by a judge and jury except as otherwise expressly provided herein.
        The Parties will cooperate with each other in causing the arbitration to
        be held
        in as efficient and expeditious a manner as practicable. Unless the Parties
        agree otherwise, they shall be limited in their discovery to directly relevant
        documents. Responses or objections to a document request shall be served
        twenty
        (20) days after receipt of the request. The arbitrators shall resolve any
        discovery disputes. Nothing herein shall prevent the Parties from settling
        any
        dispute by mutual agreement at any time. 

      

      
        
           

        

        
          32

          
            

          

        

        
           

        

         

      

      (b) The
        arbitration shall be of each Party’s individual claims only, and no claim of any
        other Party shall be subject to arbitration in such proceeding. Except as
        otherwise required by law, the Parties and the arbitrator(s) shall maintain
        as
        confidential all information or documents obtained during the arbitration
        process, including the resolution of the dispute. The arbitration shall be
        conducted in English language. 

      

      (c) The
        arbitrator(s) shall not have the authority to award any injunctive relief
        or to
        award exemplary or punitive damages, and the Parties expressly waive any
        right
        to such damages. The arbitrator(s) shall have the authority to award actual
        money damages (including interest on unpaid amounts from the date due). The
        costs and expenses of the arbitration, but not the costs and expenses of
        the
        Parties, shall be shared equally by the Parties; provided
        that the
        non-prevailing Party in any arbitration shall pay the other Party’s costs and
        expenses (including travel expenses) and reimburse such Party for its portion
        of
        the arbitration costs. In the event that neither Party wins totally,
        reimbursement shall be made proportionally in accordance with the ICC Rules.
        Any
        award rendered by the arbitrator(s) shall be final and binding upon the Parties.
        Judgment upon the award may be entered in any court of competent jurisdiction.
        If a Party fails to proceed with arbitration, unsuccessfully challenges the
        arbitration award, or fails to comply with the arbitration award, the other
        Party is entitled to costs, including reasonable attorneys’ fees, for having to
        compel arbitration or defend or enforce the award.

      

      Section
        15. MISCELLANEOUS.

      

      15.1 Force
        Majeure.
        Neither
        Party shall be held liable or responsible to the other Party nor be deemed
        to
        have defaulted under or breached the Agreement for failure or delay in
        fulfilling or performing any term of the Agreement when such failure or delay
        is
        caused by or results from causes beyond the reasonable control of the affected
        Party including, but not limited to, earthquakes, fire, floods, embargoes,
        insurrections, riots, civil commotions, strikes, lockouts or other labor
        disturbances, acts of God, acts of war or terrorism, or acts, omissions or
        delays in acting by any governmental authority or the other Party. The affected
        Party shall notify the other Party of such force majeure circumstances as
        soon
        as reasonably practical.

      

      15.2 Assignment. Neither
        party may assign its rights or obligations hereunder without the prior written
        consent of the other party which will not be unreasonably withheld or delayed;
        provided
        that
        either may assign this Agreement to one of its Affiliates, or pursuant to
        a
        merger, consolidation or sale of substantially all of its assets or stocks
        or
        other ownership interests without such prior written consent. The Parties
        agree
        that the issue of whether prior written consent to an assignment was
        unreasonably withheld or delayed by a Party shall be governed by the laws
        of the
        Commonwealth of Massachusetts without reference to any rules of conflicts
        of
        laws. This Agreement will bind and inure to the benefit of the parties hereto
        and their respective successors and permitted assigns.

      

      15.3 Severability.
        In the
        event any one or more of the provisions contained in this Agreement should
        be
        held invalid, illegal or unenforceable in any respect, the validity, legality
        and enforceability of the remaining provisions contained herein shall not
        in any
        way be affected or impaired thereby, unless the absence of the invalidated
        provision(s) adversely affect the substantive rights of the Parties. The
        Parties
        shall in such an instance use their best efforts to replace the invalid,
        illegal
        or unenforceable provision(s) with valid, legal and enforceable provision(s)
        that, insofar as practical, implement the purposes of this
        Agreement.

      

      15.4 Notices.
        All
        notices or other communications that are required or permitted hereunder
        shall
        be in writing and sufficient if delivered personally, sent by telecopier
        (and
        promptly confirmed by personal delivery, registered or certified mail or
        overnight courier), sent by internationally-recognized overnight courier,
        addressed as follows:

      

      
        	 	 
	
                If
                  to CUBIST, to:

              	
                If
                  to XTL, to:

              
	
                CUBIST
                  Pharmaceuticals, Inc.

                65
                  Hayden Avenue

                Lexington,
                  MA 02421

                Attention:
                  Chief Executive Officer

                Telecopier
                  No.: (781) 861-1412

              	
                XTL
                  Biopharmaceuticals Ltd.

                Building
                  3 

                Kiryat
                  Weizmann 

                Rehovot
                  76100 

                Israel

                Attention:
                  Chief Executive Officer

                Telecopier
                  No.: (972) 8.940.5017 

              

         

        
          
             

          

          
            33

            
              

            

          

          
             

          

           

        

        
          	
                  With
                    a copy to:

                	
                  With
                    a copy to:

                
	
                  CUBIST
                    Pharmaceuticals, Inc.

                  65
                    Hayden Avenue

                  Lexington,
                    MA 02421

                  Attention:
                    General Counsel

                  Telecopier
                    No.: (781) 860-1407

                   

                  And

                   

                  Bingham
                    McCutchen LLP

                  150
                    Federal Street

                  Boston,
                    MA 02110

                  Attention:
                    Julio E. Vega, Esq.

                  Telecopier
                    No.: (617) 951-8736

                	
                  Heller
                    Ehrman White & McAuliffe LLP

                  4350
                    La Jolla Village Drive, 7th Floor

                  San
                    Diego, CA 92122

                  Attention:
                    Stephen C. Ferruolo

                  Telecopier
                    No.: (858) 450-8499

                

        

      

      

      or
        to
        such other address as the Party to whom notice is to be given may have furnished
        to the other Party in writing in accordance herewith. Any such communication
        shall be deemed to have been given when delivered if personally delivered
        or
        sent by telecopier on a business day, on the business day after dispatch
        if sent
        by internationally-recognized overnight courier.

      

      15.5 English
        Language.
        All
        notices, disclosures or information delivered or made available by either
        Party
        or its employees and agents to the other Party and its employees or agents
        pursuant to this Agreement shall be made in English. The English language
        version of this Agreement shall control notwithstanding the translation of
        this
        Agreement into any other language.

      

      15.6 Applicable
        Law.
        Except
        as otherwise expressly set forth in Section 15.2, this Agreement shall be
        governed by and construed in accordance with the laws of the United States
        and
        the State of New York without reference to any rules of conflict of laws.
        The
        Parties irrevocably consent to the exclusive personal jurisdiction (except
        as to
        actions for the enforcement of a judgment, in which case such jurisdiction
        shall
        be non-exclusive) of the federal and state courts located in New York, New
        York,
        and venue in New York, New York.

      

      15.7 Entire
        Agreement.
        The
        Agreement contains the entire understanding of the Parties with respect to
        the
        subject matter hereof. All express or implied agreements and understandings,
        either oral or written, heretofore made are expressly merged in and made
        a part
        of the Agreement. Except as expressly set forth in this Agreement, the Agreement
        may be amended, or any term hereof modified, only by a written instrument
        duly
        executed by both Parties.

      

      15.8 Headings.
        The
        captions to the several sections hereof are not a part of the Agreement,
        but are
        merely guides or labels to assist in locating and reading the several sections
        hereof.

      

      15.9 Independent
        Contractors.
        It is
        expressly agreed that CUBIST and XTL shall be independent contractors and
        that
        the relationship between the two Parties shall not constitute a partnership,
        joint venture or agency. Neither CUBIST nor XTL shall have the authority
        to make
        any statements, representations or commitments of any kind, or to take any
        action, which shall be binding on the other, without the prior consent of
        the
        other Party.

      

      15.10 Waiver.
        The
        waiver by either Party hereto of any right hereunder or the failure to perform
        or of a breach by the other Party shall not be deemed a waiver of any other
        right hereunder or of any other breach or failure by said other Party whether
        of
        a similar nature or otherwise.

      

      15.11 Counterparts.
        The
        Agreement may be executed in two or more counterparts, each of which shall
        be
        deemed an original, but all of which together shall constitute one and the
        same
        instrument.

      

      15.12 Waiver
        of Rule of Construction.
        Each
        Party has had the opportunity to consult with counsel in connection with
        the
        review, drafting and negotiation of this Agreement. Accordingly, the rule
        of
        construction that any ambiguity in this Agreement shall be construed against
        the
        drafting Party shall not apply.

      

      15.13 Third
        Party Beneficiaries.
        Except
        as otherwise expressly provided in this Agreement, nothing herein expressed
        or
        implied is intended or shall be construed to confer upon or to give to any
        Third
        Party any rights or remedies by reason of this Agreement. Except as otherwise
        expressly provided in this Agreement, there are no intended Third Party
        beneficiaries under or by reason of this Agreement.

      

      

      

      [The
        remainder of this page is intentionally left blank.]

      
        
           

        

        
          34

          
            

          

        

        
           

        

      

      

      IN
        WITNESS WHEREOF, the Parties have executed this License Agreement as of the
        Effective Date.

      

       

      
        	XTL BIOPHARMACEUTICALS
                LTD. 	 	 	CUBIST PHARMACEUTICALS,
                INC.
	 	 	 	 
	 	 	 	 
	By:
                /s/
                Martin Becker	 	 	By:
                /s/
                Oliver Fetzer
	Name: Martin Becker	 	 	Name: Oliver Fetzer
	Title:
                CEO and President  	 	 	Title:
                SVP, Corporate Development and CBO

      

      [SIGNATURE
        PAGE TO LICENSE AGREEMENT]

      

      

      
        
           

        

        
          35

          
            

          

        

        
           

          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      

      Exhibit
        A

      (XTL
        Patents as of the Effective Date)

       

      
        	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              

      

       

      
        Antibody
          17 Patents

      

      

      
        	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              

         

        Antibody19 [Combination]

         

        
          	
                  *****

                	
                  *****

                	
                  *****

                	
                  *****

                	
                  *****

                	
                  *****

                
	
                  *****

                	
                  *****

                	
                  *****

                	
                  *****

                	
                  *****

                	
                  *****

                
	
                  *****

                	
                  *****

                	
                  *****

                	
                  *****

                	
                  *****

                	
                  *****

                

        

      

       

      Note
        that
        confidential
        treatment has been requested and one (1) page of material from this Exhibit
        B
        has been omitted and filed separately with the Commission.

      
        
           

        

        
           

          
            

          

        

        
           

          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      Exhibit
        B

      (XTL
        Trademarks)

      

      Note
        that
        confidential
        treatment has been requested and one (1) page of material from this Exhibit
        B
        has been omitted and filed separately with the Commission.

      

      
        	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              	
                *****

              

      

      
        

      
         

        
          
             

          

          
             

            
              

            

          

          
            
              *****
                Confidential material redacted and filed separately with the
                Commission.

            

          

        

      

      Exhibit
        C

      (HepeX-B
        Plan Guidelines)

      

      Note
        that
        confidential
        treatment has been requested and one (1) page of material from this Exhibit
        C
        has been omitted and filed separately with the Commission.

      

      Exhibit
        C
        provides guidelines for developing the detailed HepeX-B Plan. The Guidelines
        outline the scientific, clinical, regulatory and manufacturing activities
        that
        are currently contemplated to be required
        to
        Obtain
        Regulatory Approval for a commercially viable formulation of HepeX-B for
        the
        prevention of recurrent Hepatitis B infections in liver transplant patients
        in
        the US and the EU. A preliminary budget for 2004 and 2005 is included and
        subject to change as the detailed HepeX-B Plan is developed. These guidelines
        are subject to section 5.2 of the Agreement. Activities include: 

      

      
        	 	
                1.

              	
                *****

              

      

      
        	 	
                2.

              	
                *****

              

      

      
        	 	
                3.

              	
                *****

              

      

      
        	 	
                4.

              	
                *****

              

      

      
        	 	
                5.

              	
                *****

              

      

      
        	 	
                6.

              	
                *****

              

      

      

      It
        is
        contemplated that the HepeX-B Plan will also *****. However, the Parties
        recognize that additional activities ***** may also be required, and cannot
        be
        specified at this stage.

      

   

  
  

      *****

      

      Note:
        There might be some redundancy in costs identified in *****. The preliminary
        budget does not include costs of ***** 

      
        
           

        

        
           

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      Exhibit
        D

      (XTL
        Obligations)

      

      

      Specific
        XTL obligations are identified in the following
        activities:

       

      
        	 	
                1.

              	
                Complete
                  production of material for *****

              

      

      

      
        	 	
                2.

              	
                Complete
                  the development of an ***** of
                  HepeX-B]

              

      

      

      
        	 	
                3.

              	
                Complete
                  the following clinical studies

              

      

      

      
        	 	
                a.

              	
                *****

              

      

      

      
        	 	
                i.

              	
                *****
                  to be completed by April 2005

              

      

      

      
        	 	
                ii.

              	
                *****
                  to be completed by April 2006

              

      

      

      
        	 	
                b.

              	
                *****
                  to be completed by January 2005]

              

      

      

      

      Complete
        production of material for *****

      

      *****

      

      *****
        clones ***** and for ***** were selected and adapted to ***** produced were
        ***** and found similar to the ***** produced in *****.

      

      *****
        for
        each ***** was produced by *****

      

      *****:
        Preparation of a ***** consisting of ***** was completed. The ***** was tested
        by *****, and passed all ***** required by*****; however, a ***** result
        was
        obtained by ***** with the *****. ***** will perform necessary testing to
        demonstrate that the results do not represent an ***** (e.g., ***** of three
        ***** to a study using *****. ***** will deliver a ***** that is fully compliant
        with ***** and is acceptable for entry to ***** (i.e., must pass ***** testing)
        by *****. Additionally, ***** will provide ***** with all reports and data
        associated with the *****.

      

      *****:
        Preparation of a ***** consisting of ***** was completed. The ***** was tested
        by *****, and passed all ***** required by *****; *****, in light of the
        *****
        test result obtained above, ***** will perform all tests that may be necessary
        (in the same manner as is being done for the *****) should the ***** in any
        relevant *****. ***** will deliver a ***** that is fully compliant with
        *****-required tests and is acceptable for entry to ***** (i.e., must pass
        *****
        testing) by *****. Additionally, ***** will provide ***** with all reports
        and
        data associated with the *****.

      

      
        
           

        

        
           

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      *****

      

      About
        ***** was produced in *****. Material was ***** is stored until *****. The
        *****
        described above must be complete prior to release of this material *****,
        which
        is to be completed by *****. If the ***** does not meet the requirements
        described above, this lot of ***** (i.e. the lot produced from the *****)
        must
        be rejected. ***** will provide ***** with the ***** and all ***** associated
        with its production (e.g., batch records, results of in-process testing).
        

      

      Production
        of ***** is expected to start during *****. The retesting of the ***** described
        above must be complete prior to ***** of this *****, which is to be completed
        by
        *****. If the ***** does not meet the requirements described above, *****
        (i.e.
        the lot produced from the *****) must be *****. ***** will provide *****
        with
        the ***** associated with its *****. 

      

      Purified
        ***** will be formulated in the same***** and will be vialed in the *****.
        Because the ***** studies are not ***** and ***** must be done with the *****
        formulated in *****, as was done in earlier studies. 

      

      *****
        will have completed real ***** for each ***** produced at *****. 

      

      *****
        will provide to ***** all records and data in ***** possession or control
        that
        are associated with the ***** work to enable ***** to continue *****, including
        ***** and full *****. 

      

      The
        material manufactured at ***** is intended for use in the ***** referenced
        below
        and this ***** must be comparable (based upon acceptance criteria) *****
        must so
        that the ***** may be included in this *****. 

      

      *****

      

      *****

      

      *****
        will develop an ***** to ***** the ***** for the HepeX-B ***** (based on
        *****.
        ***** will provide ***** with all ***** reports and data related to this
        *****,
        as well as ***** and subsequent technical support.

      

      In
        addition to performing ***** on the ***** will also aid in ***** for all
        other
        ***** previously developed for and relevant to the HepeX-B program.

      

      Complete
        development of an *****
        for HepeX-B

      

      *****
        studies were performed at ***** to develop a ***** at a high concentration
        *****. ***** was completed. Three lead ***** were selected in which the *****.
        ***** will provide ***** with all records, including final study reports,
        relating to the ***** and the *****. ***** development for ***** will be
        completed by *****. ***** will provide ***** with all records, including
        final
        study reports, relating to the ***** and the *****. Until further testing
        to
        ***** is completed, the ***** must be ***** separately for *****.

      

      By
        *****,
        ***** will complete an ***** on the ***** in combination at one ***** in
        the
        same *****. 

      

      
        
           

        

        
          2

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      Complete
        the following clinical studies:

      

      Clinical
        Activities - *****
        -
        Synopsis

      

      
        	
                Name
                  of Sponsor:

                *****

              	
                Name
                  of Active Ingredient:

                HepeX-BÔ

              	
                Study
                  number: 

                *****

              
	
                Title
                  of study:
                  A
                  ***** Study to Compare the ***** of HepeX-BÔ,
                  a
                  Mixture of Two Monoclonal Antibodies, as Compared to ***** for
                  Treatment
                  of *****

              
	
                Investigators:
                  Approximately
                  ***** investigators in *****

              
	
                Study
                  centers: *****

              
	
                Study
                  period: Approximately *****
                  (***** weeks of recruitment
                  + *****
                  weeks treatment in the *****, with the possibility of enrolling
                  in the
                  ***** of the trial for an additional ***** weeks of treatment.
                  All
                  patients will be observed for ***** after completion of treatment).
                  

              	
                Phase
                  of development:
                  *****

              
	
                Objectives:
                  The primary objective will be to compare the ***** of HepeX-BÔ to
                  ***** as measured by *****, in patients who have received *****
                  for
                  treatment of *****. ***** is the primary measure of ***** and is
                  defined
                  as ***** measured on two consecutive assessments ***** days apart.
                  Secondary objectives will be to compare the ***** concentrations
                  and to
                  describe the safety of the reference and test agents.

              
	
                Methodology:
                  This is a ***** study of the ***** of HepeX-BÔ as
                  compared to standard ***** in patients who have received *****
                  for
                  treatment of ***** and who are currently receiving ***** and concomitant
                  treatment with an *****. Up to ***** patients may be enrolled in
                  order to
                  achieve at least ***** evaluable patients (***** patients per treatment
                  group). Eligible patients will be *****. Patients will receive
                  an ***** of
                  study medication every ***** for ***** in the *****, with the possibility
                  of an additional ***** all patients enrolled in the ***** of the
                  trial.
                  All patients will be observed for ***** after completion of treatment.
                  Periodic ***** will be collected for determination of *****. *****
                  will be
                  monitored by a Data and Safety Monitoring Board (DSMB). After successful
                  completion of this study, patients may be eligible for participation
                  in a
                  12-month follow-on study to examine *****.

              
	
                Number
                  of subjects:
                  Up
                  to ***** patients may be enrolled in order to obtain ***** evaluable
                  patients *****. To be considered evaluable, patients must either
                  receive
                  ***** and complete the ***** follow-up visit, or must have met
                  the
                  criteria for treatment failure. Patients who terminate the study
                  prematurely for reasons other than treatment failure will be replaced.
                  

              
	
                Main
                  Inclusion Criteria:
                  Patients who are at least ***** post first ***** for treatment
                  of *****,
                  who have received ***** from the time of ***** through the time
                  of entry
                  into the study, who have received an ***** for at least the *****
                  immediately prior to entry into the study, and who have undetectable
                  *****
                  on two consecutive tests within the ***** screening period, are
                  eligible
                  for the study. 

              
	
                Main
                  Exclusion Criteria: Patients
                  who are *****, or who have received other ***** are ineligible
                  to
                  participate.

              

         

        
          
             

          

          
            3

            
              

            

          

          
            
              *****
                Confidential material redacted and filed separately with the
                Commission.

            

          

           

        

        
          	
                  Test
                    product, dose and mode of administration:
                    HepeX-BÔ will
                    be *****. 

                  ·
                    HepeX-BÔ *****
                    every ***** for ***** for all patients enrolled in the *****,
                    with the
                    possibility of an additional ***** for all patients enrolled
                    in the *****
                    of the trial. All patients will be observed for ***** after completion
                    of
                    treatment. 

                  ·
                    HepeX-BÔ *****
                    every ***** for***** for all patients enrolled in the *****,
                    with the
                    possibility of an additional ***** for all patients enrolled
                    in the *****
                    of the trial. All patients will be observed for ***** after completion
                    of
                    treatment. 

                
	
                  Reference
                    therapy, dose and mode of administration:
                    *****. 

                  ·
                    ***** for all patients enrolled in the *****, with the possibility
                    of an
                    additional ***** for all patients enrolled in the ***** of the
                    trial. All
                    patients will be observed for ***** after completion of treatment.
                    

                
	
                  Duration
                    of treatment and observation:
                    ***** for all patients enrolled in the *****, with the possibility
                    of an
                    additional ***** for all patients enrolled in the ***** phase
                    of the
                    trial. All patients will be observed for ***** after completion
                    of
                    treatment. 

                
	
                  Anti-viral
                    assessments:
                    ***** will be determined prior to and ***** following each *****.
                    *****
                    results will be confirmed by repeat testing at least *****.

                  *****
                    assessments:
                    ***** will be determined immediately prior to each *****, at
                    the end of
                    each *****, ***** after the completion of each *****, and at*****
                    after
                    each *****. The ***** determined immediately prior to each *****
                    will be
                    considered the *****. 

                  Safety
                    assessments:
                    Safety will be evaluated by periodic ***** and reported and observed
                    *****. Emergence of ***** (as indicated by detectable *****)
                    will also be
                    reviewed as a safety measure. Selected safety measures, including
                    *****
                    status, will be reviewed periodically by an independent Data
                    Safety
                    Monitoring Board (DSMB). Criteria will be prospectively established
                    to
                    terminate one or both of the experimental arms in the event of
                    unacceptable risk to study participants.

                
	
                  Criteria
                    for Evaluation:
                    The primary
                    endpoint will be the ***** in each treatment regimen without
                    *****. *****
                    is defined as the ***** of detectable ***** measured on two consecutive
                    assessments ***** apart. Secondary endpoints will be a comparison
                    of
                    *****, including the proportion of subjects in each arm of the
                    study with
                    *****, and a description of safety (i.e., *****) throughout the
                    study.
                    

                
	
                  Statistical
                    Methods: Hypothesis
                    testing will be done for the primary endpoint using a ***** approach
                    at an
                    alpha of *****. 

                  *****:
                    HepeX-BÔ
                    is
                    not inferior to the active comparator, *****, using a maximum
                    delta of
                    *****

                  To
                    test the null hypothesis, the lower bound of the two-sided 95%
                    confidence
                    interval (CI) of the difference between the proportions of response
                    in
                    HepeX-BÔ
                    and the active comparator will be compared to the pre-set threshold
                    (*****
                    difference). The difference will be calculated HepeX-BÔ
                    minus active comparator. 

                  Categorical
                    variables (nominal or ordinal) will be summarized by sample size,
                    number
                    (frequency), and percentage of subjects at each level of the
                    variable.
                    Continuous variables will be summarized by sample size, mean,
                    median,
                    standard deviation (SD), minimum, and maximum values. 

                  For
                    the efficacy analyses, the proportion of patients without *****
                    breakthrough will be presented by treatment regimen for each
                    analysis
                    population. Summaries of ***** will be presented for the evaluation
                    of
                    safety. Listings of ***** will be provided as well as summaries
                    of the
                    *****.
                    The primary analysis for the study will be conducted when the
                    last patient
                    enrolled has received ***** and completed ***** of follow-up.
                    At this
                    time, the ***** data for all patients will be analyzed. A secondary
                    analysis will be performed when ***** has been completed by *****
                    patients
                    and will include all of the data accumulated during the
                    *****,

                

        

      

      
 

      
        
           

        

        
          4

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      *****
        Study
        - Synopsis

      

      It
        is
        understood that Cubist will determine the precise timing and scope of
*****
        prior
        to their start, and that *****
        will
        be responsible for study execution.

      

      
        	
                1.1.1.1.1 Name
                  of Sponsor

                *****

              	
                Name
                  of Active Ingredient

                *****

              	
                Study
                  number: 

              
	
                Title
                  of study:
                  ***** 

              
	
                Investigator:

              
	
                Study
                  center: 

              
	
                Study
                  period: *****

              	
                Phase
                  of development:
                  *****

              
	
                Objectives:
                  The primary objectives of this study are to

                · assess
                  the *****, as determined from ***** administered by ***** (prepared
                  from
                  *****) administered by *****

                · assess
                  the relative *****, as determined from *****, of single doses of
                  *****
                  (prepared from *****) administered by ***** (prepared from *****)
                  administered by *****

                 

                The
                  secondary objectives of this study are to

                 

                · assess
                  the relative *****, as determined from *****, of single doses *****
                  (prepared from *****) administered by ***** (prepared from *****)
                  administered by *****

                · evaluate
                  the safety of the ***** of single doses of ***** (prepared from
                  *****)
                  compared to ***** (prepared from *****) 

              
	
                Methods:
                  This study will be conducted in *****. Subjects will be screened
                  for
                  eligibility. Subjects will be randomly assigned to receive a
                  *****:

                Group
                  1: ***** subjects will receive a ***** prepared from *****

                Group
                  2: ***** subjects will receive a ***** prepared from ***** and
                  administered over *****.

                Group
                  3: ***** subjects will receive a ***** prepared from ***** and
                  administered over *****.

                Subjects
                  will remain at the study center for at least ***** after the *****
                  for
                  collection of ***** and safety monitoring. Subjects will return
                  to the
                  study center on Study Days ***** for collection of ***** and safety
                  monitoring. Subjects will return to the study center on Study Day
                  *****
                  for collection of ***** and completion of a Follow-up
                  visit].

              

      

      

      
        
           

        

        
          5

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      
        	
                [Population:
                  ***** volunteers, *****, who are *****, and who have a body mass
                  index
                  (BMI) between *****. Subjects who received ***** and those who
                  use any
                  concomitant medications that may impact ***** within 30 days prior
                  to
                  study entry are not eligible to participate.

              
	
                Number
                  of subjects:
                  ***** volunteers will be entered randomly into one of three dose
                  groups
                  (*****). Subjects who terminate prematurely before completing the
                  sample
                  collections through Study Day ***** will be replaced. 

              
	
                Test
                  product, dose and mode of administration:
                  ***** (prepared from *****) administered as a ***** 

                · *****
                  

                · *****
                  (the route of administration, *****, will be based on the results
                  of *****
                  efforts currently ongoing).

              
	
                Reference
                  therapy, dose and mode of administration:
                  ***** (prepared from *****) administered as a ***** 

              
	
                Duration
                  of treatment and observation:
                  On
                  Study Day ***** subjects will receive a *****. Subjects will remain
                  at the
                  study center for at least ***** hours after commencement of the
                  *****.
                  ***** will be collected at intervals while the subjects remain
                  at the
                  study center, and the subjects will be monitored regularly for
                  safety.
                  Subjects will return to the study center on Study Days ***** for
                  collection of ***** and safety monitoring. Subjects will return
                  to the
                  study center on Study Day ***** for collection of ***** and for
                  completion
                  of a Termination Visit. 

              
	
                *****
                  assessments: *****
                  concentrations will be determined in ***** collected at the following
                  times:

                § Study
                  Day *****: immediately prior to commencement of the *****, and
                  at
                  approximately Hours *****

                § Study
                  Day *****: at approximately *****

                § Study
                  Day *****: at approximately *****

                § Study
                  Day *****: at approximately *****

                § Study
                  Days *****

                Safety
                  assessments:
                  Safety will be evaluated by periodic
                  *****.

              

      

      

      
        
           

        

        
          6

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

         

      

      
        	
                Statistical
                  Methods: 

                *****:
                  

                 

                The
                  ***** analysis will be based on all subjects who have evaluable
                  *****. The
                  individual concentration-time profiles of ***** will be evaluated
                  using
                  *****. Data permitting, the following pharmacokinetic parameters
                  will be
                  determined:

                *****

                 

                Descriptive
                  statistics (N, mean, standard deviation, CV, median, minimum, and
                  maximum)
                  will be used to summarize ***** concentration data at each planned
                  sampling time point for each treatment. ***** parameters calculated
                  from
                  the concentrations will also be summarized by treatment using descriptive
                  statistics.

                 

                Bioequivalence
                  will be evaluated for ***** (prepared from *****) compared to *****
                  (prepared from *****) with an analysis of their log-transformed
                  *****.
                  ***** with terms for subject and treatment will be performed for
                  the
                  parameters ***** From these analyses, 90% confidence intervals
                  (CIs) for
                  the geometric test/reference mean ratios will be obtained. Group
                  1 will be
                  compared with Group 2, with Treatment Group 2 as the reference.
                  Bioequivalence will be declared if the 90% confidence limits for
                  the test
                  to reference ratios fall within *****. 

                 

                Bioeavailability
                  will be evaluated for ***** (prepared from *****) compared to both
                  *****
                  (prepared from *****) ***** (prepared from *****) using the same
                  *****
                  model described above. Group 3 will be compared with Group 1 as
                  well as
                  Group 2, with Treatment Group 1 and Treatment Group 2 as the reference,
                  respectively. For these comparisons, the bioavailability ratio
                  and 95%
                  C.I. will be calculated using the difference between the
                  *****

                 

                A
                  sample size of ***** per group has been calculated to provide greater
                  than
                  90% power to demonstrate equivalence using a CV of *****. The CV
                  of *****
                  was the largest CV calculated for the log transformed ***** parameters
                  using data from the following study: *****

                 

                Safety:
                  Descriptive summaries will be provided by treatment group for
                  demographics. The frequency of adverse events will be tabulated.
                  Baseline,
                  within study and end-of-study, and change from baseline clinical
                  laboratories, and vital signs will be summarized. Descriptive statistics
                  will be computed for safety parameters as appropriate. Further
                  statistical
                  evaluations will be applied for select endpoints, if warranted.
                  All
                  baseline data and safety data collected during the study will be
                  listed
                  for each subject and dose group].

              

      

      
        
           

        

        
          7

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      *****
        Study
        - Synopsis

      

      

      
        	
                1.1.1.1.2 [Name
                  of Sponsor

                *****

              	
                Name
                  of Active Ingredient

                *****

              	
                Study
                  number: 

              
	
                Title
                  of study:
                  *****

              
	
                Investigator:
                  *****

              
	
                Study
                  center: *****

              
	
                Study
                  period: *****

              	
                Phase
                  of development:
                  *****

              
	
                Objectives:
                  The primary objectives of this study are to

                · Compare
                  the *****, as determined by the relative changes in ***** in response
                  to a
                  ***** (prepared from *****) administered by ***** (prepared from
                  *****)
                  *****.

                · Compare
                  the *****, as determined by the relative changes in ***** in response
                  to a
                  ***** (prepared from *****) administered by ***** (prepared from
                  *****)
                  administered by *****.

                The
                  secondary objectives of this study are to

                · Compare
                  the *****, as determined by the relative changes in ***** in response
                  to a
                  ***** (prepared from *****) administered by ***** (prepared from
                  *****)
                  administered by *****.

                · Evaluate
                  the safety of the ***** (prepared from *****) compared to *****
                  (prepared
                  from *****). 

              
	
                Methods:
                  This study will be conducted in an *****. Subjects will be screened
                  for
                  eligibility and randomly assigned to receive each of the following
                  treatments on Study Day *****. ***** washout period between study
                  doses
                  will separate each treatment period.

                Treatment
                  A: *****
                  prepared from *****

                Treatment
                  B:  *****
                  prepared from ***** and administered over *****.

                Treatment
                  C: ***** prepared from ***** and administered over *****.

                During
                  each treatment period, subjects will remain at the study center
                  for at
                  least ***** after the administration of study medication for collection
                  of
                  ***** and safety monitoring. Following period *****, subjects will
                  return
                  to the study center on Study Day ***** for completion of a Follow-up
                  visit].

              

         

        
          
             

          

          
            8

            
              

            

          

          
            
              *****
                Confidential material redacted and filed separately with the
                Commission.

            

          

           

        

        
          	
                  Population:
                    Eligible patients will be *****, with
                    a minimum *****
                    at screening for subject inclusion to allow better cross-over
                    comparison.

                
	
                  Number
                    of subjects:
                    ***** subjects will be entered into the study. Subjects who terminate
                    prematurely before completing the ***** will be replaced.
                    

                
	
                  Test
                    product, dose and mode of administration:
                    ***** (prepared from *****) administered as ***** 

                  · *****
                    

                  · *****
                    (the route of administration, *****, will be based on the results
                    of *****
                    efforts currently ongoing).

                
	
                  Reference
                    therapy, dose and mode of administration:
                    *****

                
	
                  Duration
                    of treatment and observation:
                    The study duration will be approximately ***** for each subject.
                    Subjects
                    will be screened within ***** of administration of *****. During
                    each
                    treatment period, subjects will receive *****. Subjects will
                    remain at the
                    study center for at least ***** after commencement of *****.
                    Subjects will
                    check out on Day ***** following the ***** and return on Day
                    ***** for the
                    *****. Subjects will be monitored regularly for safety. A washout
                    of *****
                    between doses will separate each treatment period. Following
                    period *****,
                    subjects will return to the study center between Day ***** for
                    completion
                    of a Follow-up visit. 

                
	
                  *****
                    and
                    *****
                    assessments:
                    *****
                    concentrations and***** concentrations will be determined in
                    *****
                    collected at screening and at the following times during each
                    treatment
                    period:

                  § Study
                    Day *****: immediately prior to commencement of *****, and at
                    approximately *****
                    commencement

                  § Study
                    Day *****: ***** commencement

                  § Study
                    Day *****: ***** commencement

                  Safety
                    assessments:
                    Safety will be evaluated by periodic *****.

                
	
                  Criteria
                    for evaluation:

                  *****: 
                    The primary variable for comparison of the ***** is the change
                    in *****
                    (in percent) following ***** administration compared to the concentration
                    immediately prior to administration on Day ***** of each treatment
                    period.

                   

                  *****:
                    As
                    secondary variable for comparison, ***** concentration-time data
                    will be
                    compared for the *****. ***** in healthy normal volunteers has
                    been
                    previously evaluated. However, the ***** has not been previously
                    evaluated
                    in patients with *****. ***** are expected to be highly variable
                    between
                    patients due to the complex relationship to ***** concentration,
                    changes
                    in ***** over time will be evaluated for each treatment.

                   

                  *****.

                

           

          
            
               

            

            
              9

              
                

              

            

            
              
                *****
                  Confidential material redacted and filed separately with the
                  Commission.

              

            

             

          

          
            	
                    Statistical
                      Methods:

                     

                    Pharmacodynamics:
                      

                    The
                      pharmacodynamic analysis will be based on all subjects who
                      have evaluable
                      change in ***** For each concentration-time point, a change
                      from baseline
                      value (in percent) will be calculated as follows: ***** The
                      individual
                      percent change from baseline values of ***** will be evaluated
                      using
                      model-independent methods as implemented in *****. Data permitting,
                      the
                      following pharmacodynamic parameters will be determined:
                      *****

                    The
                      rational for deriving partial average changes from baseline
                      for select
                      time intervals is the *****:

                    a)
                      ***** concentrations appears to be correlated to the baseline
                      *****
                      concentration which could affect interpretation of the changes
                      in ***** in
                      the later portion of the concentration-time profile

                    b)
                      Intersubject variability due to the severity of the disease
                      state is
                      likely to affect the rate of ***** which could affect interpretation
                      of
                      the changes in ***** in the later portion of the concentration-time
                      profile

                    c)
                      The potential of differences in ***** may affect the *****

                    Descriptive
                      statistics (N, mean, standard deviation, CV, median, minimum,
                      and maximum)
                      will be used to summarize the percent change from baseline
                      concentration
                      data at each planned sampling time point for each treatment.
                      Change from
                      baseline pharmacodynamic parameters will also be summarized
                      by treatment
                      using descriptive statistics. 

                     

                    Similarity
                      in ***** will be evaluated for the percent change from baseline
                      pharmacodynamic parameters for ***** (prepared from *****)
                      relative to
                      ***** (prepared from *****)] with an analysis of their pharmacodynamic
                      parameters. An ***** with terms for subject, period, sequence,
                      and
                      treatment will be performed for the parameters ***** above.
                      One-sided 95%
                      confidence intervals (CI) for the test/reference mean ratios
                      will be
                      estimated from the ***** to assess ***** of the test treatments
                      using
                      *****. The test treatment will be compared with the reference
                      treatment
                      and ***** will be declared if the 95% confidence limit for
                      the test to
                      reference ratios are greater than ***** for all of the identified
                      parameters. 

                     

                    Similarity
                      in ***** be evaluated for the percent change from baseline
                      pharmacodynamic
                      parameters for ***** (prepared from *****) relative to both
                      *****
                      (prepared from *****) and ***** (prepared from *****)] using
                      the same
                      ***** model described above. One-sided 95% confidence intervals
                      (CIs) for
                      the test/reference mean ratios will be estimated from the *****
                      to assess
                      ***** of the test treatments using *****. Treatment A will
                      be compared to
                      Treatment C and to Treatment B, with Treatments C and B treated
                      as
                      reference. Non-inferiority will be declared if the 95% confidence
                      limit
                      for the test to reference ratios are greater than ***** for
                      all of the
                      identified parameters.

                     

                    A
                      sample size of *****
                      yields just over 80% power to show *****
                      in
                      the cross-over design using the following assumptions. 

                    ·        
                      There is no difference between the *****.
                              
                      *****
                      defined as the test treatment yielding responses no less than
*****
                      of
                      the reference treatment. The intra-patient CV is at most *****.
                      *****
                      one-sided significance level.

                     

                    Pharmacokinetics:
                      

                    Descriptive
                      statistics (N, mean, standard deviation, CV, median, minimum,
                      and maximum)
                      will be used to summarize ***** concentration data at each
                      planned
                      sampling time point for each treatment. An attempt will be
                      made to perform
                      a pharmacokinetic analysis for those subjects who have *****
                      that follow a
                      traditional pattern of *****. The individual concentration-time
                      profiles
                      of ***** will be evaluated using model-independent methods
                      as implemented
                      in *****. Data permitting, the following pharmacokinetic parameters
                      will
                      be determined:

                    *****

                     

                    *****
                      pharmacokinetic parameters calculated from the concentrations
                      will also be
                      summarized by treatment using descriptive statistics. Differences
                      in
                      concentration-time data and/or pharmacokinetic parameters will
                      be
                      evaluated graphically.

                     

                    Safety:
                      Descriptive summaries will be provided by treatment group for
                      demographics. The frequency of adverse events will be tabulated.
                      Baseline,
                      within study and end-of-study, and change from baseline clinical
                      laboratories, and vital signs will be summarized. Descriptive
                      statistics
                      will be computed for safety parameters as appropriate. Further
                      statistical
                      evaluations will be applied for select safety endpoints, if
                      warranted. All
                      baseline data and safety data collected during the study will
                      be listed
                      for each subject and dose group.

                  

          

        

      

       

      
        
           

        

        
          10

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      Exhibit
        E

      (XTL
        Licensor Payments)

      

      Note
        that
        confidential
        treatment has been requested and one (1) page of material from this Exhibit
        E
        has been omitted and filed separately with the Commission.

      

      

      *****

       

      
        
           

        

        
           

          
            

          

        

        
          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

        

      

      Exhibit
        E

      (XTL
        Licensor Payments)

      

      Note
        that
        confidential
        treatment has been requested and one (1) page of material from this Exhibit
        E
        has been omitted and filed separately with the Commission.

      

      

      *****Confidential
        Treatment Requested. Confidential portions of this document have been redacted
        and filed separately with the Commission.

      

      *****
        Confidential material redacted and filed separately with the
        Commission.

       

      RESEARCH
        AND LICENSE AGREEMENT

      

      

      RESEARCH
        AND LICENSE AGREEMENT (the “Agreement”) made and entered into as of April 18,
        2000 the “Effective Date”), by and between DRK
        BLUTSPENDEDIENDST BADEN-WURTTENBERG, INSTITUT ULM (the
        “Licensor”), having an address at Postfach
        15 64, U-89005 Ulm, Germany, and XTL
        BIOPHARMACEUTICALS, LTD.
        (the
“Company”), having an address at Kiryat Weizmann, P.O. Box 370, Rehovot, 76100,
        Israel.

      

      RECITALS

      

      A. *****
        has
        conducted research and made new inventions with respect to technology relating
        to antibodies to HCV;

      

      B. The
        Company is willing to partially finance the performance of further research
        at
        the laboratories, and under the supervision, of ***** relating to antibodies
        to
        HCV;

      

      C. The
        Company is also willing to provide ***** antigens for HCV and access to its
        animal models to screen antibodies to HCV; and 

      

      D. Subject
        to and in accordance with the terms and conditions of this Agreement, the
        Company wishes to acquire, and Licensor is willing to grant the Company,
        the
        exclusive license set forth in this Agreement

      

      NOW,
        THEREFORE, in consideration of the mutual promises and agreements contained
        herein, the parties hereto agree as follows:

      
 

      
        
           

        

        
          1

          
            

          

        

        
           

        

         

      

      1. Definitions

      

      “Affiliate”
        means
        any corporation or other entity that directly, or indirectly through one
        or more
        intermediaries, controls, is controlled by, or is under common control with
        the
        designated party but only for so long as such relationship exists.
        For the purposes of this section, “Control”
        shall
        mean ownership of at least 50% (or such lesser percent as may be the maximum
        that may be owned by foreign interests pursuant to the laws of the country
        of
        incorporation) of the shares of stock entitled to vote for directors in the
        case
        of a corporation and at least 50% (or such lesser percent as may be the maximum
        that may be owned by foreign interests pursuant to the laws of the country
        of
        domicile) of the interests in profits in the case of a business entity other
        than a corporation. 

      

      “Antibodies”
        mean
        those cell lines secreting antibodies to HCV listed on Exhibit
        A
        hereto
        and other cell lines secreting antibodies to HCV developed by Licensor as
        a
        result of the Research.

      

      “Effective
        Date”
        means
        the date set forth at the beginning of this Agreement.

      

      “Existing
        Technology”
        means
        all Patent Rights and Know-How of Licensor in the Field existing as of the
        Effective Date, including without limitation, the Patent Rights and Know-How
        listed on Exhibit
        B
        hereto.

      

      “Field”
        means
        HCV therapeutics and diagnostics.

      

      “Know-How”
        means
        all unpatented or nonpatentable chemical and biological materials (including
        cell lines, antibodies and other biological materials), inventions, ideas,
        data,
        formulations, processes, techniques, specifications, and other trade secrets
        or
        know-how.

      

      “License”
        means
        the exclusive license granted to the Company by Licensor pursuant to Section
        6.1.

      
        
           

        

        
          2

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

      

      

      “Licensed
        Product”
        shall
        mean any product that incorporates one or more Antibodies or a part of the
        Licensed Technology for use in the Field.

      

      “Licensed
        Technology”
        means
        the Existing Technology and the Research Technology.

      

      “Net
        Sales”
        shall
        mean the *****.

      

      “Patent
        Rights”
        means
        (i) all patents and patent applications useful in the Field conceived
        and
        reduced to practice by Licensor during the Research Period and the patents
        and
        patent applications listed in Exhibit
        B
        hereto;
        (ii) all patents and patent applications relating to the Antibodies
        and
        (iii) any divisionals, continuations, continuations-in-part, reissues,
        reexaminations, extensions or other governmental actions which extend any
        of the
        subject matter of the patent applications or patents in (i) or (ii) above,
        and any substitutions, confirmations, registrations or revalidations of any
        of
        the foregoing, in each case, which is owned or controlled, in whole or part,
        by
        license, assignment or otherwise by Licensor during the term of this
        Agreement.

      

      “Research”
        means
        the research to be undertaken at the laboratories, and under the supervision
        of
        *****, as specified in the work plan attached hereto to Exhibit
        C.
        

      

      “Research
        Period”
        means
        the period commencing on the Effective Date and, unless extended by written
        agreement of the parties or sooner terminated as provided herein, terminating
        on
        the first anniversary of the Effective Date.

      

      “Research
        Technology”
        means
        Patent Rights and Know-How created, discovered or developed by Licensor during
        the Research Period or as a result of the Research during the three-month
        period
        following the Research Period.

      

      “Sublicensee”
        shall
        mean a third party to whom the Company has granted a license or sublicense
        to
        make, have made, import, use, offer for sale or sell a Licensed
        Product.

      

      
        
           

        

        
          3

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

         

      

      2. Performance
        of Research

      

      2.1. In
        consideration of the aggregate sum of ***** to be paid by the Company to
        Licensor *****, Licensor shall perform, or cause to be performed, the Research
        during the Research Period.

      

      2.2. In
        further consideration of this Agreement, XTL agrees to pay consulting fees
        in
        the aggregate sum of *****, to be paid by the Company to *****.

      

      2.3. During
        the Research Period, Licensor shall not collaborate with any third party
        in the
        Field; provided, however, that the Licensor shall have the right to collaborate
        with academic partners for research purposes only.

      

      2.4. In
        further consideration of the sums to be paid to Licensor ***** under Section
        2.1
        and Section 2.2, respectively, and the royalties payable to Licensor under
        Section 6 below, Licensor shall provide the Company with Antibodies
        pursuant to a Materials Transfer Agreement in the form attached hereto as
        Exhibit
        D.

      

      2.5. During
        the Research Period, Licensor shall provide XTL employees access to the
        laboratories where the Research is being conducted and shall instruct them
        on
        how to practice the Licensed Technology.

      

      2.6. The
        Company shall provide Licensor antigens for HCV and access to its animal
        models
        to screen antibodies for HCV and shall also provide any necessary Know-How
        related thereto. Any such XTL Know-How shall be treated by Licensor as
        confidential information subject to the obligations of Section 8.1
        below.

      

      3. Reporting

      

      Licensor
        will submit to the Company a detailed written report on the progress of the
        Research ***** during the Research Period, within 30 days of the end of each
        ***** period, and a written report summarizing the results of the Research
        within 60 days of the end of the Research Period. Further, prompt written
        reports will be
        submitted by Licensor to the Company on each significant development in the
        Research during the Research Period and for the three-month period
        thereafter.

      

      
        
           

        

        
          4

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

         

      

      4. Title

      

      Subject
        to the License granted to the Company hereunder, it is hereby agreed that
        all
        right, title and interest in and to the Licensed Technology shall vest in
        Licensor, exclusively. All right, title and interest in and to the Company’s
        animal models shall be retained by the Company, exclusively, and no license
        or
        other right to such technology is granted or implied hereby.

      

      5. Patents
        and Patent Applications

      

      5.1. The
        parties shall consult with one another regarding the filing of patent
        applications in respect of any portion of the Licensed Technology including,
        but
        without limitation, the content and the timing of the filing of such
        applications. The Company shall have primary responsibility for the preparation,
        filing, prosecution and maintenance of such patent applications through counsel
        of its choice. In the event the Company decides not to pursue such preparation,
        filing, prosecution or maintenance, it shall so inform Licensor in writing,
        and
        Licensor shall assume responsibility for such preparation, filing, prosecution
        and maintenance through counsel of its choice reasonably satisfactory to
        the
        Company. The Company shall bear all costs and fees related to the preparation,
        filing, prosecution and maintenance of the Patent Rights.

      

      5.2. The
        Company shall have the right to take such action as shall be necessary to
        protect or to sue for infringement of any Patent Rights. At its option, the
        Company may bring suit against an infringer and join Licensor as a party
        plaintiff in any such suit. At the request of the Company, Licensor shall
        also
        take such action as the Company shall deem necessary to protect any Patent
        Rights. All costs (including legal costs and other sums awarded to the
        counter-party in such action) involved in any action taken at the Company’s
        request, or by the Company, shall be borne by the Company exclusively. Any
        recovery in any such action shall be retained by the Company
        ***** and by Licensor *****, after the deduction of all legal costs and
        expenses.

      

      
        
           

        

        
          5

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

         

      

      6. License

      

      6.1. Subject
        to the terms and conditions hereinafter set forth, Licensor hereby grants
        the
        Company an exclusive worldwide license, with the right to sublicense, under
        the Licensed Technology to develop, make, have made, use, import, offer for
        sale
        or sell the Licensed Product.

      

      6.2. The
        License shall remain in force (if not previously terminated according to
        the
        provisions of this Agreement) until the later of *****.

      

      7. Royalties

      

      7.1. In
        consideration of the License, the Company shall pay Licensor a royalty of
        *****
        of all Net Sales. In the event the Company shall have to pay a royalty to
        a
        third party to commercialize the Licensed Product, the Company may reduce
        royalty payments on Net Sales to Licensor by ***** royalty paid by the Company
        to such third party; provided that the Company’s royalty paid to Licensor on Net
        Sales shall not be less than *****. 

      

      7.2. In
        consideration of the License, the Company shall also pay Licensor ***** of
        any
        milestone payments received by the Company from its Sublicensees. In the
        event
        the Company shall have to pay a license fee or royalty to a third party to
        commercialize the Licensed Product, the Company may credit against the amounts
        otherwise due Licensor on milestones, ***** made to such third party; provided
        that the percentage of milestone payments paid to Licensor shall not be less
        than *****.

      

      
        
           

        

        
          6

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

         

      

      7.3. Amounts
        payable to Licensor under this Section 7 shall be paid to Licensor
        on a
        quarterly basis and no later than ***** after the end of each calendar quarter,
        commencing with the first calendar quarter in which any Net Sales or milestone
        payments are received; provided, however, payments on Net Sales by Sublicensees
        shall be paid to Licensor no later than ***** after the end of the calendar
        quarter when such payments are received by the Company. The Company shall
        take
        all reasonable actions as shall be necessary to protect the interests of
        Licensor to receive royalties hereunder, including the submission of reports
        and
        the maintenance of detailed accounts substantiating the calculations of
        royalties being paid to Licensor. Licensor is authorized to appoint an
        independent certified public accountant reasonably acceptable to the Company
        to
        audit such accounts during normal business hours and upon reasonable advance
        notice, solely for the purpose of verifying the accuracy of the payment
        calculations made. Such inspection shall be at Licensor’s sole expense unless it
        reveals an underpayment of at least ***** of the amount due, in which case
        the
        reasonable costs of such inspection shall be promptly reimbursed by the Company
        together with prompt payment for any unpaid amounts that are discovered.
        The
        Company shall pay to Licensor interest on amounts payable to Licensor from
        the
        date such payments were due at the base rate of the German Federal Bank plus
        ***** per annum.

      

      8. Confidentiality

      

      8.1. The
        Company and Licensor each shall use reasonable care to avoid disclosure of
        the
        Licensed Technology to any third party, and each party shall be liable to
        the
        other for unauthorized disclosure or failure to exercise such reasonable
        care.
        Neither party shall have any obligation with respect to the Licensed Technology
        to the extent that it (a)  is in the public domain at the Effective
        Date or
        becomes part of the public domain thereafter other than through a violation
        of
        this undertaking of confidentiality, (b) was known to such party at the time
        of
        disclosure, or (c) was subsequently disclosed to such party by a third
        party not in breach of any confidentiality obligations. 

      

      
        
           

        

        
          7

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

         

      

      8.2. In
        addition to and without derogating from the foregoing, the Company undertakes
        not to use the names of Licensor ***** in any advertising, sales literature,
        promotional material or other publications, but excluding private placement
        memoranda and public offering registration statements, without the prior
        written
        approval of Licensor (such approval not to be unreasonably withheld or delayed).
        Once an approval has been granted by Licensor to a certain form of words
        for use
        in a particular context, then the same form of words can be used again by
        the
        Company in the same context, without further approval from
        Licensor.

      

      8.3. For
        the
        removal of doubt, nothing in Sections 8.1 and 8.2 above contained
        shall be
        deemed to prevent the Company from mentioning the names of Licensor *****,
        or to
        prevent the Company from disclosing any information, where such mention or
        disclosure is to competent authorities for the purposes of obtaining approval
        or
        permission for the exercise of the License or is in the fulfillment of any
        legal
        duty owed to any competent authority.

      

      8.4. The
        obligations of Licensor under Section 8.1 above to the contrary
        notwithstanding, it is hereby expressly agreed that ***** shall have the
        right
        to (and, with ***** consent, his students shall have the right to) publish
        articles relating to the Licensed Technology in scientific publications,
        provided that at least ***** before the intended date of such publication,
        the
        text thereof shall be submitted to the Company in order to enable it to file,
        or
        request the filing of, a patent application relating to the subject-matter
        of
        the article before the publication takes place. Licensor shall, and shall
        use
        its reasonable efforts to cause ***** to use its or his, as the case may
        be,
        reasonable efforts to include the name of the Company in any such article
        or
        publication. 

      

      9. No
        Assignment

      

      Except
        as
        expressly provided herein, the Company may not assign all or any of its rights
        or obligations under this Agreement without the prior written consent of
        Licensor, which shall not be unreasonably withheld or delayed, except that
        the
        Company may, without such consent, assign this Agreement and its rights and
        obligations under this Agreement, in whole or in part, to its Affiliates,
        to any
        purchaser or other transferee of all or substantially all of its assets in
        the
        line of business to which this Agreement pertains, or to any successor
        corporation resulting from any merger or consolidation of the Company with
        or
        into another entity.

      

      
        
           

        

        
          8

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

         

      

      10. Term
        and Termination

      

      10.1. Unless
        previously terminated or extended in accordance with the provisions hereof,
        the
        respective obligations of the parties hereto under Sections 2 and
        3 above
        shall terminate at the expiration of the Research Period. The Company may
        extend
        the Research Period by ***** by the giving of written notice of extension
        to
        Licensor at ***** days prior to the expiration of the initial Research Period.
        Upon the giving of such notice, the parties shall negotiate, in good faith,
        the
        funding obligations of the Company during, and with respect to, such extended
        period. The provisions of this Section 10.1 will not affect the rights
        of
        the parties with respect to the License or the Licensed Technology, which
        will
        be governed by Section 10.2 below.

      

      10.2. Unless
        this Agreement is previously terminated in accordance with this Section 10.2,
        the License shall continue in full force and effect as set forth in Section
        6.2. Either Licensor or the Company may terminate this Agreement and the
        License
        hereunder by serving a written notice to that effect on the other, upon or
        after
        the winding up or insolvency of the other, or upon or after the commitment
        of a
        material breach hereof by the other (which breach cannot be cured or, if
        curable, has not
        been
        cured by the party in breach within 60 days after receipt of a written notice
        to
        the other party in respect of such breach); and in such event this Agreement
        and
        the License hereunder shall be terminated forthwith upon receipt of notice
        as
        aforesaid.

      

      10.3. Upon
        termination of this Agreement and the License thereunder pursuant to
        Section 10.2, all rights to the Licensed Technology vested in the
        Company
        shall revert to Licensor, and the Company shall not thereafter be entitled
        to
        make any use of the Licensed Technology. The termination of this Agreement
        for
        any reason shall not relieve the parties of any obligations to make payments
        thereunder which shall have accrued prior to such termination.

      

      
        
           

        

        
          9

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

         

      

      11. Representations

      

      11.1. The
        Company hereby represents to Licensor as follows:

      

      (a) The
        Company is a corporation duly organized, validly existing and in good standing
        under the laws of the State of Israel. The Company has been granted all
        requisite power and authority to carry on its business and to own and operate
        its properties and assets. The execution, delivery and performance of this
        Agreement have been duly authorized by the Board of Directors of the
        Company;

      

      (b) There
        is
        no pending or, to the Company’s knowledge, threatened litigation involving the
        Company which would have any material adverse effect on this Agreement or
        on the
        Company’s ability to perform its obligations hereunder; and

      

      (c) There
        is
        no indenture, contract, or agreement to which the Company is a party or by
        which
        the Company is bound which prohibits or would prohibit the execution and
        delivery by the Company of this Agreement or the performance or observance
        by
        the Company of any material term or condition of this Agreement.

      

      11.2. Licensor
        represents to the Company as follows:

      

      (a) The
        execution and delivery of this Agreement have been duly authorized by all
        requisite action on the part of Licensor and Licensor has all right, power
        and
        authority necessary to grant the License and perform its other obligations
        hereunder.

      

      (b) There
        is
        no pending or, to Licensor’s knowledge, threatened litigation involving Licensor
        which would have any material adverse effect on this Agreement or Licensor’s
        ability to perform its obligations hereunder;

      

      (c) To
        the
        best of Licensor’s knowledge, Licensor holds exclusive worldwide rights in and
        to the Existing Technology and, as of the Effective

      
        
           

        

        
          10

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

      

      

      (d) 
        Date,
        there are no restrictions on its rights to license the Existing Technology
        to
        the Company. Licensor has not received notice of, and has no knowledge of
        any
        basis for, any claim that the Existing Technology infringes on any patent
        or
        other intellectual property right or trade secret of any third party;
        and

      

      (e) Licensor
        has not previously granted, and will not grant, during the term of this
        Agreement, any right, license or interest in or to the Licensed Technology
        in
        the Field or with respect to the Licensed Product.

      

      12. Governing
        Law and Forum 

      

      This
        Agreement shall be governed by the laws of England and Wales. The parties
        agree
        to submit to the jurisdiction of the courts of London, England.

      

      13. Entire
        Agreement 

      

      This
        Agreement, together with the Exhibits constitutes the entire agreement between
        the parties pertaining to the subject matter hereof. The parties expressly
        intend that this Agreement shall supersede that certain Research and License
        Agreement between the parties dated ***** and that the terms of this Agreement
        shall apply to the Antibodies listed on Exhibit
        A.
        Any
        addition or amendment of this Agreement shall not be effective unless in
        writing
        signed by the authorized signatories of both parties.

      

      14. Notices

      

      All
        notices shall be in writing mailed via certified mail, return receipt requested,
        or overnight express mail, courier providing evidence of delivery, addressed
        as
        follows, or to such other address as may be designated by written notice
        so
        given from time to time:

      
        	
                If
                  to Licensor

              	
                DRK
                  Blutspendediendst Baden-Wurttenberg, Institut Ulm

              
	 	
                Helmholtzstrasse
                  10

              
	 	
                89081
                  Ulm

                Germany

              
	 	
                Attention:
                  ***** 

              
	 	 

         

        
          
             

          

          
            11

            
              

            

          

          
            *****
              Confidential material redacted and filed separately with the
              Commission.

          

           

        

        
          	
                  If
                    to the Company:

                	
                  XTL
                    Pharmaceuticals Ltd.

                
	 	
                  Kiryat
                    Weizmann

                
	 	
                  P.O.
                    Box 370

                
	 	
                  Rehovot
                    76100, Israel

                
	 	
                  Attention:
                    Chief Executive Officer

                
	 	 
	 	 

        

      

      Notices
        shall be deemed given as of the date received.

       

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      IN
        WITNESS WHEREOF the parties hereto have set their signatures as of the 18th
        day
        of April, 2000.

      
        	
                 

                DRK
                  BLUTSPENDEDIENDST BADEN-WURTTENBERG, INSTITUT ULM

              	
                XTL
                  BIOPHARMACEUTICALS, LTD.

              
	 	 
	 	 
	
                By:
                  _______________________________

              	
                By:
                  _______________________________

              
	 	 
	
                Title:
                  ______________________________    

              	
                Title:
                  ______________________________

              

      

      

      
        
           

        

        
          13

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

      

      Exhibit
        A

      

      *****

      

      *****  *****

      *****  *****

      *****  *****

      *****  *****

      *****  *****

      

      Note
        that
        confidential
        treatment has been requested and one (1) page of material from this Exhibit
        A
        has been omitted and filed separately with the Commission.

      

      
        
           

        

        
          1

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

      

      Exhibit
        B

      

      Existing
        Technology

      

      

      *****

      

      *****:

      

      

      *****

      

      *****

      

      *****

      

      *****

      

      *****

      

      *****

      

      *****

      

      *****

      

      *****

      

      *****

      

      

      Note
        that
        confidential
        treatment has been requested and one (1) page of material from this Exhibit
        B
        has been omitted and filed separately with the Commission.

      
        
           

        

        
          2

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

      

      Exhibit
        C

      

      Work
        Plan

      

      

      
        	
                -

              	
                *****

              

      

      

      
        	
                -

              	
                *****

              

      

      

      
        	
                -

              	
                *****

              

      

      

      
        	
                -

              	
                *****

              

      

      

      
        	
                -

              	
                *****

              

      

      

      
        	
                -

              	
                *****

              

      

      

      
        	
                -

              	
                *****

              

      

      

      Note
        that
        confidential
        treatment has been requested and one (1) page of material from this Exhibit
        C
        has been omitted and filed separately with the Commission.

       

      
        
           

        

        
          3

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

      

      Exhibit
        D

      

      MATERIALS
        TRANSFER AGREEMENT

      

      *****.

      

      1. *****.

      

      2. *****.

      

      3. *****.

      

      4. *****.

      

      5. *****.

      

      

      

      6. *****.

      

      7. *****.

      

      8. *****.

      

      9. *****.

      

      10. *****.

      

      11. *****.

      

      12. *****.

      

      13. *****:

      

      
        	
                *****

              	
                *****

              
	 	
                *****

              
	 	
                *****

              
	 	
                *****

              
	 	 
	
                *****

              	
                *****

              
	 	
                *****

              
	 	
                *****

              
	 	
                *****

              
	 	
                *****

              

      

       

      
        
           

        

        
          4

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

      

      *****.

      

      *****.

      
        	
                *****

              	
                *****

              
	 	 
	 	 
	 	 
	
                
                  

                  *****

              	
                
                  

                  *****

              
	 	 
	
                
                  

                  *****

              	
                
                  

                  *****

              
	 	 
	
                
                  

                  *****

              	
                
                  

                  *****

              
	 	 
	
                
                  

                  *****

              	
                
                  

                  *****

              

      

      

      Note
        that
        confidential
        treatment has been requested and two pages of material from this Exhibit
        D have
        been omitted and filed separately with the Commission.

      
        
           

        

        
          5

          
            

          

        

        
          *****
            Confidential material redacted and filed separately with the
            Commission.

        

      

      Exhibit
        1

      

      

      *****

      

      

      1. *****

      

      *****

      *****

      *****

      *****

      *****

      *****

      *****

      

      

      2. *****

      

      
        	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              
	
                *****

              	
                *****

              	
                *****

              	
                *****

              

      

      

      

      3. *****

      

      *****

      

      

      *****.

      

      

      Note
        that
        confidential
        treatment has been requested and one (1) page of material from this Exhibit
        1
        has been omitted and filed separately with the Commission.

       

       

      
        
           

        

        
          6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00087-of-00352.parquet"}]]