Document:

EXHIBIT 10.6

                              EMPLOYMENT AGREEMENT

      EMPLOYMENT  AGREEMENT,  dated as of  December  20,  2004  (the  "Effective
Date"), between ENHANCE BIOTECH, INC., a corporation organized under the laws of
the State of Delaware ("Employer"), and Phillip S. Wise ("Executive").

      WHEREAS,  Executive  desires to provide  services to Employer and Employer
desires to retain the services of Executive;

      WHEREAS,  Employer  and  Executive  desire  to  formalize  the  terms  and
conditions of Executive's employment with Employer.

      NOW, THEREFORE, Employer and Executive hereby agree as follows:

      1. Employment.

            1.1. General.

                  1.1.1  Effective as of the  Effective  Date,  Employer  hereby
employs Executive in the capacity of Chief Financial  Officer.  Executive hereby
accepts  such  employment  upon the terms and subject to the  conditions  herein
contained. Commencing on the Effective Date, Executive shall have the duties set
forth on Schedule 1 attached  hereto.  Executive agrees to perform the foregoing
duties and  responsibilities as well as such other duties as may be requested by
the Board of Directors of Employer (the "Board of Directors")  and the President
and Chief Executive Officer of Employer.

                  1.1.2 During Executive's  employment with Employer,  Executive
will report directly to, and take direction from, the Board of Directors and the
President and Chief Executive Officer of Employer.

            1.2.  Board of  Directors.  For so long as  Executive  is serving as
Chief  Financial  Officer of  Employer,  Executive  agrees,  if so  requested by
Employer,  to serve  as a  member  of  Board  of  Directors  without  additional
compensation.

            1.3. Exclusive  Full-Time  Position.  Executive,  during Executive's
employment  with  Employer,  will  devote  Executive's  best  efforts and all of
Executive's  business time,  attention and skills to the business and affairs of
Employer, it being understood that Executive shall not be employed by or provide
services  to any other  person  or entity  during  Executive's  employment  with
Employer.  Notwithstanding  the foregoing,  Executive  shall be permitted to (i)
serve  as a  member  of the  board of  unaffiliated  companies  but only if such
service  is with the prior  written  consent  of the Board of  Directors,  which
consent may be withheld in the sole  discretion of the Board of Directors;  (ii)
serve on civic,  professional  or  charitable  boards or  committees,  and (iii)
manage personal investments; provided, however, that Executive may not engage in
any of the activities  described in this sentence to the extent such  activities
(x) prevent Executive from devoting  substantially  all of Executive's  business
time to Employer, (y) adversely affect the performance of Executive's duties and
responsibilities  to  Employer  or (z)  violate  any  other  provision  of  this
Agreement.

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            1.4.  Location  of  Employment.   Executive's   principal  place  of
employment during Executive's employment with Employer shall be in Durham, North
Carolina or such other location as Employer and Executive shall agree. Executive
acknowledges  that the proper  performance  of  Executive's  duties may  require
travel and Executive  agrees to engage in such travel as may be required  during
Executive's employment.

      2. Compensation and Benefits.

            2.1. Salary. During the period of Executive's employment pursuant to
this Agreement,  Employer will pay to Executive a base salary ("Base Salary") at
an annual rate of Two Hundred Twenty Five Thousand Dollars  ($225,000),  payable
in accordance with the customary payroll practices of Employer. Executive's Base
Salary shall be reviewed in accordance  with the policy of Employer from time to
time,  but in any  event no less than  annually,  and may be  subject  to upward
adjustment  based  upon,  among  other  factors,   Executive's  performance,  as
determined in the sole  discretion of the Board of Directors.  In no event shall
Executive's  Base  Salary in  effect at a  particular  time be  reduced  without
Executive's prior written consent.

            2.2.  Additional  Compensation.  The  compensation set forth in this
Section  is in  addition  to the Base  Salary  and other  benefits  set forth in
Section 2.

                  2.2.1 Annual Bonus.

                  (a) Executive shall be eligible for and the Board of Directors
may, in its sole discretion,  award Executive a bonus (the "Annual Bonus") based
upon the  attainment  of  performance  targets  and  other  reasonable  criteria
established  by the  Board  of  Directors.  The  Annual  Bonus  shall be paid to
Executive  at the same time it is paid to other  eligible  employees.  Except as
specifically set forth in this Agreement, Executive must be employed on the date
the bonus is paid in order to earn the Annual Bonus.

                  (b) In  addition  to the  discretionary  bonus  set  forth  in
Section 2.2.1(a) above, Executive shall receive a stock bonus in an amount equal
to Thirty Five Thousand Dollars ($35,000) on each of the first, second and third
anniversaries of the Effective Date which shares shall be registered pursuant to
a  Registration  Statement on Form S-8 which shall be filed with the  Securities
Exchange Commission.

                  2.2.2  Stock   Options.   As  additional   consideration   for
Executive's performance of services hereunder, upon the Effective Date, Employer
shall issue to Executive,  pursuant to Employer's 2004 Incentive  Plan,  options
(the  "Options")  to purchase 1.2 Million  shares of  Employer's  common  stock,
$0.001 par value per share.  It is  intended  that the  maximum  amount of these
Options as permitted  under law qualify as an  "incentive  stock  option"  under
Section  422 of the  Code,  and to the  extent  that all or any  portion  of the
Options  do not so  qualify,  the  Options  shall be  treated  as  non-qualified
options.  The Options  shall have a per share  exercise  price equal to not less
than the fair market value on the date of grant and shall expire on a date to be
established by the Board of Directors or the applicable committee  administering
the Employer's 2004 Incentive  Plan, but no later than the tenth  anniversary of
the Effective Date. The Options are subject to the following  vesting  schedule;
provided,  however,  that  Executive  must be an  employee  of  Employer  on the
applicable  vesting date in order for such  Options to vest:  25% of the Options
shall vest on the date of grant and 25% of the Options shall vest on each of the
first, second and third anniversaries of the date of grant.

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                  2.3.  Executive  Benefits.  In addition to the Base Salary and
additional compensation set forth in Section 2, Executive shall also be entitled
to the following benefits during Executive's employment hereunder:

                  2.3.1. Expenses. Employer shall, subject to Employer's expense
reimbursement  policies as  established  or amended from time to time,  promptly
reimburse Executive for expenses Executive  reasonably incurs in connection with
the  performance  of  Executive's   duties   (including,   without   limitation,
reimbursement  for  professional  society  membership  fees and  fees to  attend
meetings  of such  professional  societies,  business  travel and  entertainment
expenses);  provided, that Executive has provided Employer with documentation of
such expenses in accordance with Employer's expense  reimbursement  policies and
applicable tax requirements.

                  2.3.2.   Employer   Plans.   Executive  will  be  entitled  to
participate  in the employee  benefit plans and programs  generally  provided to
employees  by  Employer  from  time to  time,  including,  but not  limited  to,
participation in any 401(k),  life insurance,  health and accident,  medical and
dental, disability and retirement plans and programs,  subject to and on a basis
consistent with the terms,  conditions and overall  administration of such plans
and  programs.  Employer  retains  the  unilateral  right to  amend,  modify  or
terminate any of its employee benefit plans and programs at any time.

                  2.3.3.  Vacation.  Executive  shall be entitled to twenty (20)
working  days of paid  vacation  leave per year.  Vacation  must be scheduled at
those times most convenient to Employer's  business as reasonably  determined by
the Board of Directors and the President and Chief Executive Officer.

                  2.3.4.  Coverage.  Nothing  in this  Agreement  shall  prevent
Executive from participating in any other compensation plan or benefit plan made
available to Executive by Employer.

                  2.3.5.   Life/Key  Man  Insurance.   Providing   Executive  is
insurable at  commercially  reasonable  rates,  Employer  shall obtain term life
insurance  on the life of  Executive  in the  amount  of at least  $500,000,  at
Employer's  expense,  and  Executive  may name the  beneficiary  of the  policy.
Employer shall have the right,  but not the  obligation,  to obtain key man life
insurance on the life of employee at Employer's  expense, in reasonable amounts,
but not less than the amounts set forth in the preceding sentence.

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            2.4. Taxes and Withholding.  Employer shall have the right to deduct
and withhold from all  compensation  payable to Executive  all Medicare,  social
security,  and other federal,  state and local taxes and charges which currently
are or hereafter may be required by law to be so deducted or withheld.

            2.5. Employment Term. Executive's employment by Employer pursuant to
this Agreement  shall commence as of the Effective Date and,  except as provided
in Section 3.1 hereof,  will continue at-will until the third anniversary of the
Effective  Date. On the third  anniversary  of the Effective Date this Agreement
shall  terminate  and,  unless  Executive  and  the  Employer  enter  into a new
employment agreement,  Executive shall thereafter be an employee at-will subject
to the general employment policies and practices of the Employer.

      3. Termination of Employment.

            3.1.  Events of  Termination.  Executive's  employment with Employer
will terminate upon the occurrence of any one or more of the following events:

                  3.1.1.  Death. In the event of Executive's death,  Executive's
employment will terminate on the date of death.

                  3.1.2. Disability.  In the event of Executive's Disability (as
hereinafter  defined),  Employer  will have the option to terminate  Executive's
employment by giving a written  notice of such  termination  to  Executive.  For
purposes of this Agreement, "Disability" means Executive's inability as a result
of a  physical  or  mental  illness  to  perform  Executive's  duties  which has
continued or is expected to continue for an aggregate of 90 days (not  including
permitted  vacation days and holidays) during any consecutive 365 day period, as
determined  in good  faith by the  Board of  Directors  upon  the  advice  of an
independent physician.

                  3.1.3. Termination by Employer for Cause.

            Employer may, at it's option,  terminate Executive's  employment for
"Cause" upon giving written notice of such termination to Executive.  As used in
this Agreement, the term "Cause" shall include but not necessarily be limited to
(i) conviction of, or plea of nolo  contendere to, a felony or a crime involving
moral  turpitude;  (ii)  engagement  in conduct which has the effect of bringing
disrepute to the Employer's  reputation or hold the Employer or the Executive up
to public ridicule;  (iii) fraud on or misappropriation of any funds or property
of the Employer,  any affiliate,  customer or vendor;  (iv) willful violation of
any law,  rule or  regulation  (other than minor  traffic  violations or similar
offenses); (v) personal dishonesty,  willful misconduct,  or breach of fiduciary
duty which involves personal profit;  (vi) gross incompetence in the performance
of the  Executive's  duties under this  Agreement;  (vii) willful  misconduct in
connection  with the  Executive's  duties or  willful  failure  to  perform  the
Executive's  responsibilities  in the  best  interests  of the  Employer;  (vii)
habitual  absenteeism or inattention to the Executive's duties; (ix) chronic use
of alcohol,  drugs or other similar  substances  (other than

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pursuant to medical  prescriptions and under doctors'  supervision for treatment
of  legitimate  illnesses or  conditions)  which  affects the  Executive's  work
performance; (x) violation of any Employer rule, regulation, procedure or policy
which has, or may  reasonably be expected to have, a material  adverse effect on
the  Employer;  (xi)  engaging in  behavior  that would  constitute  grounds for
liability for harassment (as proscribed by the U.S. Equal Employment Opportunity
Commission Guidelines or any other applicable state or local regulatory body) or
other  egregious  conduct that violates laws governing the  workplace;  or (xii)
material  breach of any material  provision of any  employment,  non-disclosure,
non-competition,  non-solicitation  or other similar  agreement  executed by the
Executive for the benefit of the Employer (including,  without limitation,  such
provisions  within this Agreement) or of any material  Employer  policy,  all as
determined by the Board of Directors,  which  determination  will be conclusive.
Notwithstanding  anything to the contrary,  employment may not be terminated for
Cause in the event that the Executive becomes permanently  disabled as set forth
in this Agreement or dies. Anything herein to the contrary notwithstanding,  the
Employer  shall give the  Executive  written  notice  prior to  terminating  the
Executive's  employment  for Cause under any  circumstance  in which the conduct
constituting  Cause  is  reasonably  open  to  cure  (for  instance,  by  way of
illustration  only,  where the Cause does not  involve a  violation  of trust or
otherwise  adversely  affect the  relationship  between  the  Executive  and the
Employer on a  going-forward  basis or involve  commission  of an act, such as a
felony, or an unauthorized  disclosure of confidential material, or an act which
may constitute  illegal  harassment  under laws  governing the workplace,  which
can't be undone),  setting forth in reasonable  detail the nature of any alleged
breach and the conduct required to cure such breach. If, and only if, the nature
of the  breach is such  that the  breach is  reasonably  open to cure,  then the
Executive  shall have  fourteen  (14) days from the giving of such notice within
which to cure such breach.

                  3.1.4. Without Cause By Employer. Employer may, at its option,
terminate  Executive's  employment for any reason whatsoever (other than for the
other reasons set forth above in this Section 3.1) by giving  written  notice of
such termination to Executive, and Executive's employment shall terminate on the
later of the date the written  notice of such  termination  is given or the date
set forth in such written notice.

                  3.1.5.  For  Good  Reason  by  Executive.  Executive  may,  at
Executive's option, terminate Executive's employment for "Good Reason" by giving
written  notice of  termination to Employer in the event that there is a failure
of Employer  (or  successor  employer)  to promptly  pay  Executive's  salary or
additional  compensation or benefits hereunder in accordance with this Agreement
in any material respect. It shall also be considered Good Reason for termination
by  Executive  if, in the event of a Change of Control (as defined  below),  any
successor  employer  fails to fully  assume  Employer's  obligations  under this
Agreement.  For purposes, of this Agreement,  a "Change of Control",  shall mean
(i) the dissolution or liquidation of Employer,  or (ii) the consummation of any
merger  or  consolidation  of  Employer  other  than in a  transaction  in which
Employer is the surviving corporation or a majority of the board of directors of
the surviving  corporation were directors of Employer before such transaction or
are designated by the former shareholders of Employer,  or (iii) a sale or other
disposition of all or substantially all of the then-outstanding capital stock of
Employer  or a  sale  or  other  disposition  of  all  or  substantially  all of
Employer's assets. Good Reason shall also include any requirement that Executive
move his principal  office to a location  outside the Research  Triangle area of
North Carolina.

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                  3.1.6.  Without  Good  Reason  By  Executive.   Executive  may
terminate Executive's  employment for any reason (other than for Good Reason) by
giving written notice of such  termination to Employer.  Executive's  employment
shall terminate on the earlier of (i) the date, following the date of the notice
of  termination,  upon which a suitable  replacement  for  Executive is found by
Employer or upon which Employer makes a  determination,  in its sole discretion,
that Executive's  duties shall be undertaken by other employees of Employer,  or
(ii)  sixty  (60) days after the date of  receipt  by  Employer  of the  written
notice.

            3.2.  Certain  Obligations  of  Employer  Following  Termination  of
Executive's  Employment.  Following the  termination of  Executive's  employment
under the  circumstances  described  below,  Employer  will pay to  Executive in
accordance with its regular  payroll  practices the following  compensation  and
provide the following benefits:

                  3.2.1.  Death;  Disability.  In  the  event  that  Executive's
employment is terminated by reason of Executive's death or Disability, Executive
or Executive's estate, as the case may be, shall be entitled to the following:

                  (i) that portion of any unpaid Base Salary up to and including
the date of such  termination  and any  accrued  but unused  vacation  up to and
including the date of such termination (the "Accrued Amount");

                  (ii) any accrued but unpaid Annual Bonus for any year prior to
the year in which such termination occurred ("Prior Annual Bonuses");

                  (iii) any unreimbursed business expenses incurred prior to the
date of such termination ("Expense Reimbursement");

                  (iv) all  benefits  generally  available  under  the  employee
benefit  plans,  and the policies  and  practices  of  Employer,  determined  in
accordance with the applicable terms and provisions of such plans,  policies and
practices,  in each  case,  as  accrued  to the  date of  termination  ("Accrued
Benefits")  or  otherwise  payable  as a  consequence  of  Executive's  death or
Disability; and

                  (v) the right to exercise all options that are fully vested as
of the date of such termination for the remainder of the term of such options as
fully set forth in the applicable grant agreement.

                  3.2.2.   Without  Cause  by  Employer;   For  Good  Reason  by
Executive.  In the event that  Executive's  employment is terminated by Employer
pursuant to Section  3.1.4  hereof or by  Executive  pursuant  to Section  3.1.5
hereof, Executive shall be entitled to the following:

                  (i)  continuing  payments of then  current Base Salary for the
following period (each such period as applicable, the "Severance Period"):

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                        (a) if  such  termination  occurs  prior  to  the  first
                        anniversary  of  the  Effective  Date,  for  the  period
                        beginning on the date of such  termination and ending on
                        the second anniversary of the Effective Date, or

                        (b) if such  termination  occurs  on or after  the first
                        anniversary  of the Effective  Date, for the twelve (12)
                        month period following such termination;

and

                  (ii) continuing  coverage under  Employer's  employee  benefit
plans  during the  Severance  Period or if earlier,  until  Executive is covered
under the employee benefit plans of another employer;

                  (iii)  the  Accrued  Amount,  Prior  Annual  Bonuses,  Expense
Reimbursement and Accrued Benefits; and

                  (iv) any unvested portion of any options previously granted to
Executive  that is  scheduled  to vest during the  Severance  Period  shall vest
immediately  as of the date of such  termination  and  Executive  shall have the
right to  exercise  all  options  that are  fully  vested as of the date of such
termination  (including,  those  vested  by  acceleration  on the  date  of such
termination) for the remainder of the term of such options as fully set forth in
the applicable grant agreement.

                  3.2.3.  Termination  by  Executive  Without  Good Reason or by
Employer  for  Cause.  In the event  Executive's  employment  is  terminated  by
Executive  pursuant  to Section  3.1.6 or Section  3.1.7  hereof or by  Employer
pursuant to Section  3.1.3  hereof,  Executive  shall be entitled to the Accrued
Amount, Expense Reimbursement and Accrued Benefits.

                  3.2.4.  Termination on the Third  Anniversary of the Effective
Date. In the event  Executive's  employment is terminated upon the expiration of
this Agreement on the third  anniversary of the Effective Date,  Executive shall
not be entitled to any  compensation,  benefits or severance of any kind, except
as required by law.

            3.3.  Nature of  Payments.  All  amounts to be paid by  Employer  to
Executive  pursuant  to this  Section  3 are  considered  by the  parties  to be
severance  payments.  In the event such  payments are treated as damages,  it is
expressly  acknowledged by the parties that damages to Executive for termination
of  employment  would be  difficult  to  ascertain  and the  above  amounts  are
reasonable estimates thereof.

            3.4. Release.  Notwithstanding anything to the contrary, neither the
Executive  nor  the  Executive's   estate  shall  be  entitled  to  receive  any
compensation,  reimbursement or benefits upon  termination of employment  (other
than as required by law) unless the Executive or the Executive's  estate, as the
case may be, executes and delivers to the Employer  promptly after termination a
written release, in form and substance reasonably  satisfactory to the Employer,
by which the Executive and the Executive's  estate, as the case may be, releases
the Employer from any obligations and liabilities of any type whatsoever related
to  Executive's  employment  under this  Agreement,  except  for the  Employer's
obligations  with respect to Section 3.2 of this Agreement,  which release shall
not affect the  Executive's  estate's  right,  if any, to  indemnification  with
respect to, or  insurance  in respect of, any actions  taken within the scope of
the  Executive's  employment,  or the  Executive's or the  Executive's  estate's
rights in respect of the  Executive's  vested  securities.  The  parties  hereto
acknowledge  that the  compensation,  reimbursement  and benefits to be provided
under Section 3.2 are to be provided in  consideration  for the  above-specified
release,  as well as for Executive's  agreement to be bound by the provisions of
Section 3.5 and Section 4.

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            3.5. Other Provisions Applicable to Termination of Employment.

                  (1) At any time after notice to terminate  this  Agreement has
            been served or received by the Employer, the Employer, without being
            deemed in breach of this Agreement or being deemed to be taken steps
            which would  constitute  grounds for a different kind of termination
            under this Agreement,  may require the Executive to do the following
            during the applicable notice period concluding on the effective date
            of termination of employment under this Agreement:

                        (i) work in a capacity  consistent  with the Executive's
                  then  applicable  position and status other than that in which
                  the  Executive is employed  under this  Agreement  but without
                  affecting the Executive's  fixed salary,  including  benefits;
                  and

                        (ii) remain away from work and,  although the  Executive
                  will continue to receive the  Executive's  salary and benefits
                  provided for under this Agreement during such period,  and the
                  Employer will not be obliged to provide the Executive with any
                  work  although the Employer  may, in its absolute  discretion,
                  assign to the Executive during this period, from time to time,
                  such  appropriate  tasks or  projects as may be carried out by
                  the Executive away from the Employer's offices.

                  (2) Upon termination of the Executive's  employment under this
            Agreement, the Executive shall do the following:

                        (i)  forthwith  surrender  to  the  Employer,   in  good
                  condition and working order (ordinary wear and tear excepted),
                  all Employer property in the Executive's possession including,
                  without limitation,  all books, papers and other documents (of
                  whatever  nature  and  in  whatever  media)  belonging  to the
                  Employer or its  subsidiary or associated  company or relating
                  to  the  business  of  the  Employer  or  its   subsidiary  or
                  associated companies;

                        (ii) if the  Executive  is a director of the Employer or
                  of any subsidiary or associated  company,  or if the Executive
                  is an officer of any subsidiary or any associated company, and
                  is so  requested  by the  Employer,  resign as an  officer  or
                  director, as the case may be, within forty-eight (48) hours of
                  being so requested  and,  should the  Executive  fail to do so
                  within  forty-eight  (48)  hours of being  so  requested,  the
                  Executive  irrevocably  authorizes  the Employer to appoint an
                  agent in the Executive's name and on the Executive's behalf to
                  execute  and  deliver  any  documents  and to take any and all
                  actions  reasonably  deemed by the Employer to be necessary or
                  appropriate  to  give  effect  to such  resignation(s)  by the
                  Executive; and

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                        (iii)  immediately  repay all outstanding debts or loans
                  due  to the  Employer  and/or  any  subsidiary  or  associated
                  company, the Employer being expressly authorized, for purposes
                  of clarity, to deduct the same from any wages of the Executive
                  a sum in  repayment  of all or any part of any  such  debts or
                  loans.

      4. Confidentiality; Nonsolicitation; Non-Compete.

            4.1.  Confidential  and Proprietary  Information;  Non-Solicitation.
Executive's  employment  by  Employer  is subject  to  Executive  executing  the
Proprietary Rights and  Confidentiality  Agreement annexed hereto as Schedule 2.
Such agreement shall be deemed, upon execution, to be incorporated in and a part
of this Agreement.

            4.2.  Executive  acknowledges  and agrees that (a) Employer  will be
irreparably  injured in the event of a breach by Executive of any of Executive's
obligations  under  Section 4.1;  (b)  monetary  damages will not be an adequate
remedy for any such breach; (c) in the event of any such breach Employer will be
entitled to injunctive relief as a matter of right and without posting a bond or
other security, in addition to any other remedy which it may have, and Executive
shall not oppose such injunctive relief based upon the extent of the harm or the
adequacy of monetary damages.

            4.3. Non-competition and Non-solicitation.

            (a) The Executive agrees and  acknowledges  that, in connection with
the  Executive's  employment  with the Employer,  the Executive will be provided
with access to and become familiar with confidential and proprietary information
and trade secrets belonging to the Employer.  Executive further acknowledges and
agrees  that,  given the nature of this  information  and trade  secrets,  it is
likely that such  information  and trade  secrets  would  inevitably  be used or
revealed,  either  directly or indirectly,  in any subsequent  employment with a
competitor  of the  Employer in any  position  comparable  to the  position  the
Executive  holds  with  the  Employer  under  this  Agreement.  Accordingly,  in
consideration of the Executive's  employment with the Employer  pursuant to this
Agreement,  and other good and valuable  consideration,  the receipt of which is
hereby acknowledged, Executive agrees that, while the Executive is in the employ
of the Employer and for a period equal to the greater of the period during which
the Executive  receives any severance  pursuant to this  Agreement,  if any, and
Twelve (12) months after the  termination  of the  Executive's  employment,  the
Executive  shall not,  either on the  Executive's own behalf or on behalf of any
third  party,  except on  behalf  of the  Employer  or,  with the prior  written
agreement of the Employer (not to be unreasonably  withheld) or any affiliate of
the Employer, directly or indirectly:

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                  (1) Other than through the  Executive's  ownership of stock of
the Employer,  directly or indirectly,  own,  manage,  operate,  join,  control,
finance or participate  in the ownership,  management,  operation,  control,  or
financing of, or be connected as a proprietor,  partner,  stockholder,  officer,
director,  principal, agent,  representative,  joint venturer, investor, lender,
consultant or otherwise with, or use or permit the  Executive's  name to be used
in connection with, any business or enterprise engaged directly or indirectly in
competition with the Business Conducted by the Employer (as hereinafter defined)
at any time  during  such  period,  and any other  business  ("Other  Business")
engaged in by the Employer that Executive is or has been directly  involved with
during the Twelve (12) month period  immediately  preceding  termination  of the
Executive's employment.  As used in this Agreement, the term "Business Conducted
by the Employer" shall mean the discovery, clinical or pre-clinical development,
sale  and/or  manufacture  of drugs  or drug  candidates  that  are  known to be
pharmacologically  active  at the  delta  and/or  mu cell  receptor(s),  and the
acquisition, licensing, development,  manufacturing,  marketing and distribution
of drugs and treatments for such other  conditions as the Employer is engaged in
addressing during the Twelve (12) month period immediately preceding termination
of the  Executive's  employment.  The  foregoing,  however,  shall  not  prevent
Executive from performing  services for a business engaged in the  biotechnology
or  biopharmaceutical  businesses  generally which is not  competitive  with the
Employer,  or for a competitive  business if such  competitive  business is also
engaged in lines of  business  which do not  compete  with the  Employer  and if
Executive's  services  are  restricted  to  employment  in such  other  lines of
business.  It is  recognized by the Executive and the Employer that the Business
Conducted  by the  Employer  is and is  expected  to  continue  to be  conducted
throughout  the United States and the world,  and that more narrow  geographical
limitations   of  any  nature  on  this   non-competition   covenant   (and  the
non-solicitation  provisions  set  forth  in  clauses  (2)  and (3)  below)  are
therefore not appropriate.  The foregoing  restriction shall not be construed to
prohibit the ownership by Executive as a passive investment of not more than one
percent  (1%) percent of any class of  securities  of any  corporation  which is
engaged  in any  of the  foregoing  businesses  having  a  class  of  securities
registered pursuant to the Securities Exchange Act of 1934, as amended.

                  (2) Attempt in any manner to solicit from a current  client or
customer of the Employer at the time of the Executive's termination, business of
the type  performed by the Employer or to persuade any client of the Employer to
cease to do  business  or change  the  nature of the  business  or to reduce the
amount of  business  which any such  client  has  customarily  done or  actively
contemplates doing with the Employer; or

                  (3)  Recruit,  solicit  or induce,  or attempt to induce,  any
person  or  entity  which,  at the time of the  termination  of the  Executive's
employment  or at any time  during the Twelve  (12) month  period  prior to such
termination was an employee of the Employer or its affiliates, to terminate such
employee's employment with, or otherwise cease such employee's relationship with
the Employer or its affiliates.  As used in this Agreement,  an affiliate of the
Employer is any person or entity that,  directly or  indirectly,  through one or
more intermediaries,  controls,  or is controlled by, or is under common control
with, the Employer.

            (b) The parties  agree that the relevant  public  policy  aspects of
covenants  not to compete  have been  discussed,  and that every effort has been
made to limit the  restrictions  placed  upon the  Executive  to those  that are
reasonable  and  necessary  to  protect  the  Employer's  legitimate  interests.
Executive acknowledges that, based upon the Executive's  education,  experience,
and training,  this  non-compete  provision  will not prevent the Executive from
earning a livelihood and supporting  himself and the  Executive's  family during
the relevant time period.

                                       19
<PAGE>

            (c) If any  restriction  set  forth in  Section  4.3 is found by any
court of competent  jurisdiction to be unenforceable  because it extends for too
long a period  of time or over too  great a range of  activities  or  geographic
area, it shall be interpreted  to extend over the maximum period of time,  range
of activities or geographic areas as to which it may be enforceable.

            (d)  The  restrictions  contained  in  4.3  are  necessary  for  the
protection  of the business and goodwill of the Employer  and/or its  affiliates
and are  considered  by the Executive to be reasonable  for such  purposes.  The
Executive agrees that any material breach of Section 4.3 will cause the Employer
and/or its affiliates  substantial and irrevocable damage and therefore,  in the
event of any such  breach,  in  addition  to such  other  remedies  which may be
available,  the Employer shall have the right to seek specific  performance  and
injunctive relief.

            (e) The  provisions  of Section  4.3 shall  survive  termination  or
expiration of this Agreement.

            (f) EXECUTIVE HAS READ AND  CAREFULLY  CONSIDERED  THE TERMS OF THIS
AGREEMENT,  HAS HAD THE OPPORTUNITY TO CONTACT  EXECUTIVE'S OWN LEGAL COUNSEL TO
ADVISE EXECUTIVE REGARDING THE TERMS OF THIS AGREEMENT, AND EXECUTIVE NOW AGREES
THAT THE TERMS OF THIS  AGREEMENT  ARE FAIR AND  REASONABLE  AND ARE  REASONABLY
REQUIRED FOR THE PROTECTION OF THE INTEREST OF THE EMPLOYER.  EXECUTIVE  FURTHER
AGREES THAT THE RESTRICTIONS AND COVENANTS OF THIS AGREEMENT WILL NOT IMPAIR THE
ABILITY OF EXECUTIVE TO SECURE  EMPLOYMENT SO AS TO BE ABLE TO MAKE A REASONABLE
LIVING.  The provisions of this Agreement  shall be enforceable  notwithstanding
the existence of any claim or cause of action of Executive  against the Employer
whether  predicated on this  Agreement or otherwise.  Failure of the Employer to
enforce at any time or for any period of time any of the conditions or covenants
of this  Agreement  shall not be construed as a waiver of such  provisions or of
the right of the  Employer to enforce  subsequent  breaches of the same or other
conditions and covenants,  unless such permanent waiver is provided to Executive
in writing and signed by the  President  of the Employer or, if Executive is the
President  of the  Employer,  such writing is to be signed by the officer of the
Employer designated for such purpose by the Board of Directors.

            (g)  Notwithstanding  anything  herein which may be construed to the
contrary,  Executive shall be free to use and employ Executive's general skills,
know-how and expertise,  and to use, disclose and employ any generalized  ideas,
concepts,  know-how,  methods, techniques or skills gained or learned during the
course of providing the services  hereunder,  so long as Executive  acquires and
applies this  information  without  violating the terms of this Paragraph 4.3 or
the Proprietary Rights and  Confidentiality  Agreement executed and delivered by
the Executive to the Employer in connection herewith.

                                       20
<PAGE>

            (h) The term of this non-competition covenant shall be tolled during
any period of actual  competition or breach of this Section 4.3 by the Executive
and/or any period of litigation to enforce  Executive's  obligations  under this
Agreement.

      5. Indemnification. Executive shall be covered by the Employer's directors
and officers liability insurance policy, and errors and omissions  coverage,  to
the same  extent  such  coverage is  generally  provided by the  Employer to its
directors  and officers and to the fullest  extent  permitted by such  insurance
policies. In addition,  the Employer shall indemnify and hold Executive harmless
from all liability to the fullest extent permitted by the Employer's  bylaws and
applicable law.

      6. Miscellaneous Provisions.

            6.1.  Severability.  If in any  jurisdiction  any term or  provision
hereof is determined to be invalid or unenforceable, (a) the remaining terms and
provisions   hereof   shall  be   unimpaired,   (b)  any  such   invalidity   or
unenforceability   in  any   jurisdiction   shall  not   invalidate   or  render
unenforceable such provision in any other  jurisdiction,  and (c) the invalid or
unenforceable  term or provision  shall, for purposes of such  jurisdiction,  be
deemed  replaced by a term or provision that is valid and  enforceable  and that
comes closest to expressing the intention of the invalid or  unenforceable  term
or provision.

            6.2.  Execution in  Counterparts.  This Agreement may be executed in
one or more  counterparts,  and by the  different  parties  hereto  in  separate
counterparts,  each of which shall be deemed to be an original  but all of which
taken together  shall  constitute one and the same agreement (and all signatures
need not  appear  on any one  counterpart),  and  this  Agreement  shall  become
effective when one or more  counterparts  has been signed by each of the parties
hereto and delivered to each of the other parties hereto.

            6.3.   Notices.   All   notices,   requests,   demands   and   other
communications hereunder shall be in writing and shall be deemed duly given when
delivered by hand, or when delivered if mailed by registered or certified  mail,
postage  prepaid,  return receipt  requested,  or private courier service or via
facsimile (with written confirmation of receipt) as follows:

                  If to Employer, to:

                       Enhance Biotech, Inc.
                       712 Fifth Avenue
                       New York, NY  10019
                       Attn:   Christopher Every,
                               President and Chairman

                       Copy to:

                       Andrew J. Cosentino
                       Enhance Biotech, Inc.
                       712 Fifth Avenue
                       New York, NY  10019
                       Facsimile No.:  (212) 581-1922

                                       21
<PAGE>

                  If to Executive, to:

                       Phillip S. Wise
                       605 Downpatrick Lane
                       Raleigh, NC  27615

or to such other  address(es)  as a party hereto shall have  designated  by like
notice to the other parties hereto.

            6.4.  Amendment.  No  provision of this  Agreement  may be modified,
amended,  waived or  discharged  in any  manner  except by a written  instrument
executed by Employer and Executive.  No course of dealing between the parties to
this  Agreement  shall be deemed to affect or to modify,  amend or discharge any
provision or term of this Agreement.

            6.5. Entire Agreement. This Agreement and the Proprietary Rights and
Confidentiality  Agreement  executed  and  delivered  by  the  Executive  to the
Employer in connection  herewith  constitute the entire agreement of the parties
hereto with  respect to the  subject  matter  hereof,  and  supersede  all prior
agreements  and  understandings  of the parties  hereto,  oral or written,  with
respect to the subject matter hereof. No  representation,  promise or inducement
has been made by either  party that is not  embodied  in this  Agreement  or the
Proprietary  Rights and  Confidentiality  Agreement,  and neither party shall be
bound by or liable for any alleged representation,  promise or inducement not so
set forth.

            6.6.  Applicable  Law.  This  Agreement  shall  be  governed  by and
construed in  accordance  with the laws of the State of New York  applicable  to
contracts  made  and  to be  wholly  performed  therein  without  regard  to its
conflicts or choice of law provisions.

            6.7.  Headings.  The  headings  contained  herein  are for the  sole
purpose of  convenience  of reference,  and shall not in any way limit or affect
the  meaning  or  interpretation  of any of the  terms  or  provisions  of  this
Agreement.

            6.8.  Binding  Effect;  Successors  and Assigns.  Executive  may not
delegate  Executive's  duties  or  assign  Executive's  rights  hereunder.  This
Agreement  will inure to the benefit of, and be binding upon, the parties hereto
and their respective heirs, legal representatives,  and successors. Employer may
assign this Agreement to any entity  purchasing all or substantially  all of the
assets of Employer.

            6.9. Waiver,  etc. The failure of either of the parties hereto to at
any time enforce any of the provisions of this Agreement  shall not be deemed or
construed  to be a waiver of any such  provision,  nor to in any way  affect the
validity of this Agreement or any provision hereof or the right of either of the
parties hereto to thereafter enforce each and every provision of this Agreement.
No waiver of any  breach of any of the  provisions  of this  Agreement  shall be
effective unless set forth in a written instrument executed by the party against
whom or which  enforcement  of such waiver is sought,  and no waiver of any such
breach shall be  construed  or deemed to be a waiver of any other or  subsequent
breach.

                                       22
<PAGE>

            6.10.  Continuing  Effect.  Where  the  context  of  this  Agreement
requires, the respective rights and obligations of the parties shall survive any
termination or expiration of the term of this Agreement,  and more specifically,
including, without limitation, Section 4.

            6.11. Representations and Warranties of Executive.  Executive hereby
represents  and  warrants  to  Employer  that  to the  knowledge  of  Executive,
Executive  is  not  bound  by  any  non-competition,  confidentiality  or  other
agreement which would prevent Executive's execution, delivery and performance of
this Agreement. The Executive agrees to indemnify and hold harmless the Employer
for any  liability  the Employer may incur as the result of the existence of any
such obligation.

<PAGE>

      IN WITNESS WHEREOF,  this Agreement has been executed and delivered by the
parties hereto as of the date first above written.

                              ENHANCE BIOTECH, INC.

                               By: /s/  Christopher Every
                                   ----------------------------------
                                   Name:
                                   Title:

                                   /s/  Phillip S. Wise
                                   ----------------------------------
                                   Phillip S. Wise

<PAGE>

                                                                      SCHEDULE 1

                               EXECUTIVE'S DUTIES

Executive  shall be responsible  for the normal and routine duties required of a
Chief  Financial  Officer  as set  forth  in the  by-laws  of  the  Employer  or
established  by law as well as the  following  key tasks  reporting to the Chief
Executive Officer:

1.    To direct the strategic financial control of business operations on behalf
      of the Board of Directors providing reporting as and when required;

2.    To direct statutory  financial  reporting and audit  relationships to meet
      Securities Exchange Commission requirements of the business;

3.    To direct (i) the  preparation of annual budgets,  (ii) their  translation
      into and (iii)  monitoring  of  monthly  performance  against  them in the
      management  account  reporting  systems  down  to  individual  operational
      management areas;

4.    To oversee the  maintenance  of  management  accounting  and cost  control
      systems and reporting enabling tightly controlled budget management in all
      operational areas;

5.    To assist the Chief  Executive  Officer  in the  maintenance  of  adequate
      funding  for  the  business  to  meet  targets  and  develop  compound  in
      accordance with Board of Directors policy;

6.    To  assist  Chief  Executive   Officer  in  the  strategic   planning  and
      negotiation of (i) in and (ii) out-licensing opportunities;

7.    To direct the management of site administrative functions including, human
      resources and maintenance of the general fabric of the site;

8.    To ensure the Employer's adherence to financial regulatory requirements of
      a public  company and of the  market(s) on which the  Employer  chooses to
      trade; and

9.    To provide  commercial  input into the  strategic  planning,  research and
      development programs for the Employer.

<PAGE>

Schedule 2

ATTACHED PROPRIETARY RIGHTS AND CONFIDENTIALITY AGREEMENT

See Following Pages.

<PAGE>

PROPRIETARY RIGHTS AND CONFIDENTIALITY AGREEMENT

THIS AGREEMENT is made this ___ day of December,  2004, between Enhance Biotech,
Inc., a Delaware corporation, with its offices at 712 Fifth Avenue, New York, NY
10019 (the  "Company"),  and  Phillip S. Wise,  an  individual  residing  at 605
Downpatrick Lane, Raleigh, NC 27615 ("Employee"). This Agreement is based on the
following understandings:

      A.  Employee  is a valued  employee  and officer of the Company and has an
      interest  as an  employee  and  officer  in the  continued  success of the
      Company; and

      B. The Company and Employee wish to set forth certain agreements regarding
      the terms of Employee's employment; and

      C.  Employee  is  entering  into an  agreement  simultaneously  with  this
      Agreement concerning his duties and compensation as an officer of Company.

      THEREFORE, in consideration of the premises, the employment of Employee by
the Company,  the  disclosure  by the Company of  confidential  and trade secret
information,  and the mutual  promises  and  agreements  in this  document,  the
parties to this Agreement contract as follows:

      1. Confidential  Information.  Employee may gain access to or knowledge of
information  about Company  and/or  Company  clients and  customers  that is not
generally  known  or  available  to  the  public  ("Confidential  Information").
Confidential  Information  may include,  but is not limited to:  Inventions  (as
defined  below),  research  results,  specifications,  models,  diagrams,  data,
flowcharts,  spreadsheets,  marketing and development  plans,  chemical compound
structures,  synthesis  methods,  pre-clinical  and  clinical  data,  regulatory
filings,  content of  negotiations  with potential  licensees  and/or  partners,
financial investors or affiliates, client names and other information related to
current and potential clients (including  without  limitation names,  addresses,
phone  and  fax  numbers,   and  services  requested  and  provided  and  client
information   acquired  in  the  course  of  providing   services  to  clients),
prospective  client  lists,  price  lists,  pricing  policies,  supplier  lists,
financial  information  and  employee  files.  It shall  also  include,  without
limitation, data, notes, records, files, memoranda,  reports, designs, drawings,
plans,  sketches,  documents,  print-outs,  and the  like,  in any way or in any
medium  incorporating  or reflecting  any of the  Confidential  Information,  or
relating to the Company's Business (as defined below) or to any client,  vendor,
licensor,  licensee or other party transacting business with the Company and any
information which Employee made or makes,  conceived or conceives,  developed or
develops or obtained or obtains  knowledge  or access  through or as a result of
Employee's  relationship  with  the  Company  (including  information  received,
originated,  discovered  or developed in whole or in part by Employee)  from the
initial  date  of  Employee's  employment  with  the  Company.  As  used in this
Agreement,  the term "Company's Business" shall mean the discovery,  clinical or
pre-clinical  development,  sale and/or  manufacture of drugs or drug candidates
that are  known to be  pharmacologically  active  at the  delta  and/or  mu cell
receptor(s),  and  the  acquisition,   licensing,  development,   manufacturing,
marketing and  distribution of drugs and treatments for such other conditions as
the Company is engaged in  addressing  during the  Employee's  employment by the
Company.  Confidential Information also includes any information described above
which the Company  obtains  from another  party and which the Company  treats as
proprietary or designates as Confidential  Information,  whether or not owned or
developed  by the  Company,  including  without  limitation,  information  of or
concerning  the Company's  clients,  partners,  financial  investors or business
collaborators.  The  failure of the  Company to mark any of the  above-described
information as proprietary,  confidential, or secret shall not affect its status
as part of the Confidential Information protected by this Agreement.

                                       1
<PAGE>

            For the purposes of this Agreement,  "Inventions"  shall mean ideas,
designs, creations, concepts, techniques, inventions, improvements, discoveries,
and works of  authorship,  whether or not patentable or protectable by copyright
or patent,  whether or not fixed in a tangible  medium of expression and whether
or not reduced to practice,  including but not limited to the nature and results
of research and development activities,  processes,  formulae, devices, designs,
processes,  computer  programs,  and  methods,  together  with any  improvements
thereon or thereto,  derivative  works or applications  derived  therefrom,  and
know-how related thereto.

            Information  publicly known that is generally  employed by the trade
at or after the time Employee first learns of such information  (other than as a
result of a breach by  Employee  of any duty owed to,  or  agreement  with,  the
Company),  or generic information or knowledge which Employee would have learned
in the course of similar  employment or work elsewhere in the trade shall not be
deemed part of the Confidential Information.

<PAGE>

      2.  Non-Disclosure  of  Confidential  Information.  Employee  agrees  that
Employee  has a fiduciary  duty to the Company and that  Employee  shall hold in
confidence  and  shall  not,  except  in the  course  of  performing  Employee's
employment obligations or pursuant to written authorization from the Company, at
any  time  during  or  for  ten  (10)  years  after  termination  of  Employee's
relationship  with the  Company  (a)  directly  or  indirectly  reveal,  report,
publish,  disclose or transfer the Confidential  Information or any part thereof
to any person or entity;  (b) directly or  indirectly  use, or permit the use of
any of the  Confidential  Information  or any part thereof for any purpose other
than for the benefit of the Company;  (c) assist any person or entity other than
the Company to secure any benefit from the Confidential  Information or any part
thereof or (d) solicit (on  Employee's  behalf or on behalf of any third  party)
any  employee of the Company for the purpose of  providing  services or products
which Employee is prohibited from providing hereunder.

      3.  Ownership of  Confidential  Information  and Work  Product.  Except as
limited by this Paragraph, Employee agrees that all Confidential Information and
all other work  product of any type or nature  created by Employee or  resulting
from  work  performed  by  Employee  for the  Company,  or using  the  Company's
facilities,  equipment,  supplies or other property, or related to the Company's
Business,  even if not Confidential  Information (such Confidential  Information
and work product being defined as "Work  Product"),  shall belong to the Company
exclusively and without any additional compensation to Employee. Employee agrees
that any original  copyrightable Work Product shall be considered as "works made
for hire," and that the  Company  shall be deemed the author  thereof,  provided
that to the extent such Work Product is determined not to constitute "works made
for hire" as a matter of law, Employee hereby irrevocably  assigns and transfers
to the Company all rights in and to such Work Product.

                                       2
<PAGE>

      The Company's ownership right to such Work Product shall extend regardless
of the hours during which or facilities at which the Work Product is made or the
resources or ownership of resources used in making it; provided however that the
assignment  of  rights  shall  not  apply to  creations  developed  entirely  on
Employee's own time without using the Company's facilities,  equipment, supplies
or other property,  Confidential Information or Work Product,  provided that the
creations do not (a) relate to the Company's  Business or actual or demonstrably
anticipated  research or  development,  or (b) result from any work performed by
Employee for the Company.

            Upon request  Employee will execute any instrument  required to vest
in the Company  complete  title and ownership to all Work Product,  and will, at
the request and expense of the  Company,  execute any  instruments  necessary to
obtain legal protection in the United States and foreign  countries for all Work
Product  and for the purpose of vesting  title  thereto in the  Company,  or its
nominee, all without any additional  compensation of any kind to Employee.  Only
if the Company  executes a written  statement  that it does not desire to obtain
protection for a particular Invention or copyrightable creation is Employee free
to obtain  protection  in  Employee's  own name and at  Employee's  own expense;
provided,  however,  that the  Company  shall have a  royalty-free  nonexclusive
irrevocable license under any patent or copyright so obtained by Employee.

            4.  Disclosure  to the  Company.  Upon  the  conception  of any Work
Product by Employee  (either solely or in  conjunction  with others) and without
waiting to perfect or complete it, Employee  promises and agrees  immediately to
fully disclose to the President and Chief Executive  Officer or other applicable
officer of the Company designated by the Board of Directors of the Company,  and
to no one else,  and  thereafter  to treat the Work  Product as the property and
secret of the  Company.  This shall  include  Work  Product  made,  conceived or
reduced to practice after the term of Employee's  employment but which belong to
the Company  pursuant to  Paragraphs 3 and 9. Upon request  Employee will reduce
any concept in the Work Product to writing and deliver all copies of the writing
to the President of the Company, or if Employee is the President of the Company,
such copies shall be  delivered  to such other  officer of the Company as may be
designated  by the Board of Directors of the Company.  These  obligations  shall
continue  beyond the  termination  of  employment  with  respect to Work Product
conceived or made during the period of employment.

      5.  Collaboration.  Employee  warrants  that  Employee  will  disclose the
participation  of any other  person in any of  Employee's  work for the Company.
Absent such  disclosure,  Employee  warrants that all work performed by Employee
will be Employee's own and that no other person shall have any right,  title, or
interest in any work submitted to the Company.

      6. Records.  Employee agrees that Employee will keep and maintain adequate
and current written records of all Work Product created by Employee. All written
records  relating  to any Work  Product,  whether  in the form of  notes,  data,
reference materials, sketches, drawings, memoranda, correspondence,  blueprints,
manuals, letters, notebooks,  reports, flowcharts,  programs,  proposals, or any
other form,  and whether in written,  electronic or other media,  concerning the
Company's Business or incorporating or reflecting any of the Work Product, shall
be and remain the  property of and  available  to the Company at all times,  and
shall be  delivered  to the  Company  on demand  or upon  Employee  leaving  the
Company's service.  The Company may, at any time and without notice to Employee,
take  possession  of  such  records  regardless  of  their  location,  including
Employee's  files,  desk,  computer  or other  areas  under the  control  of the
Company.

                                       3
<PAGE>

      7. Assistance  After  Employment.  Employee agrees that if,  subsequent to
Employee's  employment  by the Company,  his  assistance  is needed in regard to
securing,  defending,  or enforcing any patent or copyright of which Employee is
an inventor,  co-inventor,  author or co-author Employee shall provide requested
assistance and the Company shall pay reasonable  compensation  for his time at a
rate to be agreed  upon but not higher than 150% of the last salary rate paid to
Employee by the Company during his employment,  together with full reimbursement
of reasonable and necessary directly-related expenses.

      8. Third-Party  Obligations.  Employee  acknowledges that the Company from
time to  time  may  have  agreements  with  other  person  or  entities  or with
government or other  agencies that impose  obligations  or  restrictions  on the
Company regarding Inventions,  Confidential  Information or Work Product created
by Employee or the Company  during the course of work  thereunder,  or regarding
the  confidential  nature of the work or  confidential  information of the third
party disclosed during or used as part of such work. Employee agrees to be bound
by all such  obligations and  restrictions  and to take all action  necessary to
discharge the obligations of the Company thereunder.

      9.  Warranty  by  Employee.  Employee  represents  and  warrants  that his
performance of all terms under this Agreement does not result in a breach of any
duty owed by Employee to another,  under  contract or otherwise,  or violate any
confidence of another.  Employee agrees not to disclose to the Company or induce
the Company to use any confidential or proprietary  information belonging to any
of the Employee's previous employers or others.  Employee warrants that Employee
has  executed  no  prior   noncompetition,   nondisclosure  or   confidentiality
agreements  that would in any way  interfere  with his work for or employment by
the Company.  Employee  represents and warrants that Exhibit A attached  hereto,
entitled  "List of Work  Product," is a true and complete list of all creations,
if any,  whether or not  patented or  copyrighted  and whether or not reduced to
practice,  made by Employee prior to his employment with the Company,  and which
therefore are not subject to the provisions of Paragraph 3;  provided,  however,
that any improvements, whether or not patentable or reduced to practice, made to
or on, or any  derivative  work made from,  any of the listed  confidential  and
propriety information after Employee's commencement of employment by the Company
are subject to the terms of Paragraph 3.

            Employee  agrees to notify the  Company in writing  before  Employee
makes any  disclosure  to or performs  any work on behalf of the  Company  which
appears to threaten or conflict with any  proprietary  right Employee  claims in
any Work  Product and in the event of  Employee's  failure to give such  notice,
Employee  shall make no claim  against the Company with respect to any such Work
Product.

                                       4
<PAGE>

      10. Exit Interview.  Employee  agrees that upon  termination of Employee's
employment for any reason,  Employee shall participate in an exit interview with
Company  personnel.  At or prior to the time of this  interview  Employee  shall
deliver to the Company all notes, data, reference materials, sketches, drawings,
memoranda,  correspondence,  manuals,  letters,  notebooks,  reports,  programs,
proposals,  or any other  documents,  whether in  written,  electronic  or other
media,  concerning the Company's  Business or incorporating or reflecting any of
the  Confidential  Information  or Work  Product.  Employee  agrees  that,  upon
request, Employee will execute a sworn statement that Employee has complied with
the terms of this  Paragraph,  and that should  Employee  fail to execute such a
statement  the Company may  withhold any and all amounts due to Employee for any
reason, except minimum compensation required by law.

      11. Extraordinary Relief.  Nothing in this Agreement shall be construed as
prohibiting the Company from pursuing all remedies  available to the Company for
breach of this  Agreement.  Employee  recognizes  and agrees that because of the
unique nature of the  Confidential  Information and the competitive  position of
the Company his breach of this  Agreement will  irreparably  injure the Company,
for which the Company could not  adequately be  compensated  by remedies at law.
Should  Employee  at any time  reveal or use for the  benefit  of other than the
Company  or  threaten  to so  reveal  or use  any  Confidential  Information  in
violation  of  Paragraph  2, the  Company  shall be  entitled  to an  injunction
restraining Employee from doing or continuing to do or performing any such acts,
and  Employee  hereby  consents  to the  issuance  of  such  injunction  against
Employee.  Employee  further  agrees  to waive  any  bond or  proof  of  damages
requirement that may arise if the Company is forced to seek injunctive relief to
enforce the terms of this Agreement.

      12. Accounting for Profits; Indemnification. Employee covenants and agrees
that if Employee shall violate any of Employee's  covenants or agreements  under
this Agreement,  the Company shall be entitled to an accounting and repayment of
all profits,  compensation,  royalties,  commissions,  remunerations or benefits
which  Employee  directly  or  indirectly  shall have  realized  or may  realize
relating  to,  growing out of or in  connection  with any such  violation;  such
remedy shall be in addition to and not in limitation of any injunctive relief or
other rights or remedies to which the Company is or may be entitled at law or in
equity or otherwise  under this  Agreement.  Employee  hereby  agrees to defend,
indemnify and hold  harmless the Company  against and in respect of: (i) any and
all losses and damages  resulting from,  relating or incident to, or arising out
of any  misrepresentation  or breach by  Employee of any  warranty,  covenant or
agreement  made or  contained in this  Agreement;  and (ii) any and all actions,
suits,  proceedings,  claims, demands,  judgments,  payments, costs and expenses
(including reasonable attorneys' fees) incident to the foregoing.

      13. Successor Employers. Employee hereby authorizes the Company to provide
a copy  of this  Agreement,  including  any  Exhibits,  to any  and  all  future
employers,  and to notify any and all future  employers that the Company intends
to exercise its legal rights arising out of or in conjunction with the Agreement
and/or any breach or any inducement of breach of it.

                                       5
<PAGE>

      14.  Reasonableness  and  Enforceability.  EMPLOYEE HAS READ AND CAREFULLY
CONSIDERED  THE TERMS OF THIS  AGREEMENT,  HAS HAD THE  OPPORTUNITY  TO  CONTACT
EMPLOYEE'S  OWN LEGAL  COUNSEL TO ADVISE  EMPLOYEE  REGARDING  THE TERMS OF THIS
AGREEMENT, AND EMPLOYEE NOW AGREES THAT THE TERMS OF THIS AGREEMENT ARE FAIR AND
REASONABLE AND ARE REASONABLY REQUIRED FOR THE PROTECTION OF THE INTEREST OF THE
COMPANY.  EMPLOYEE  FURTHER AGREES THAT THE  RESTRICTIONS  AND COVENANTS OF THIS
AGREEMENT WILL NOT IMPAIR THE ABILITY OF EMPLOYEE TO SECURE  EMPLOYMENT SO AS TO
BE ABLE TO MAKE A REASONABLE  LIVING.  The provisions of this Agreement shall be
enforceable  notwithstanding  the  existence  of any claim or cause of action of
Employee against the Company whether  predicated on this Agreement or otherwise.
Failure  of the  Company to enforce at any time or for any period of time any of
the conditions or covenants of this Agreement shall not be construed as a waiver
of such provisions or of the right of the Company to enforce subsequent breaches
of the same or other  conditions and covenants,  unless such permanent waiver is
provided to Employee in writing and signed by the  President  of the Company or,
if Employee is the President of the Company, such writing is to be signed by the
Board of Directors of the Company.

      15.  Reformation/Severability  of  Agreement.  If any  provision  of  this
Agreement   shall  for  any  reason  be  adjudged  by  any  court  of  competent
jurisdiction or arbiter to be illegal, invalid or otherwise unenforceable,  such
judgment shall not affect,  impair or invalidate the remainder of this Agreement
but shall be  confined  in its  operation  to the  provision  of this  Agreement
directly  involved in the  controversy  in which such  judgment  shall have been
rendered. The invalid or unenforceable  provision shall be reformed so that each
party shall have the obligation to perform reasonably  alternatively to give the
other  party  the  benefit  of  its  bargain.   In  the  event  the  invalid  or
unenforceable provision cannot be reformed, the other provisions or applications
of this Agreement shall be given full effect,  and the invalid or  unenforceable
provision shall be deemed struck.

      16.  Construction  of Terms.  Any reference  herein to the masculine shall
include the  feminine or neuter,  and any  reference  herein to the  singular or
plural may be construed as plural or singular wherever the context requires.

      17.  Successor and Assigns.  This Agreement  shall inure to the benefit of
and be binding upon the Company,  its successors and assigns,  including without
limitation  any  entity  which  may  acquire  all  or  substantially  all of the
Company's  assets and business or into which the Company may be  consolidated or
merged,  and the  Employee,  his  heirs,  executors,  administrators  and  legal
representatives.  Employee  may not  assign  any of his  obligations  under this
Agreement.

      18.  Governing  Law and Venue.  This  Agreement  shall be  governed by and
construed  in  accordance  with  the laws of New York  applicable  to  contracts
between  residents of New York which are wholly  executed  and  performed in New
York. Any lawsuit brought under the terms of this Agreement shall have exclusive
venue in the state and federal  courts of New York County,  New York;  provided,
however,  that with respect to any proceeding for injunctive  relief the Company
may, at its option,  bring the proceeding  before a court where Employee resides
at the time of such proceeding.

                                       6
<PAGE>

      19. Merger.  This Agreement  constitutes the entire Agreement  between the
parties with respect to the subject matter  hereof;  and supersedes and replaces
any oral or written  communications and any undertakings  otherwise made between
the parties relating to the subject matter. Except as specified in Paragraph 15,
no changes,  modifications,  or amendments  of any terms and  conditions of this
Agreement are valid or binding  unless agreed to in a writing signed by Employee
and the President of the Company or, if Employee is the President,  the Board of
Directors of the Company.

                  [Remainder of page intentionally left blank.]

                                       7
<PAGE>

      This  Agreement  is  effective  as of the date first above  written and is
executed in duplicate originals.

                                                 Enhance Biotech, Inc.
--------------------------------------
Employee

                                                 By:
--------------------------------------              ----------------------------
Witness                                             Its:

<PAGE>

                                                                       EXHIBIT A

                              LIST OF WORK PRODUCT
                     NOT SUBJECT TO OWNERSHIP BY THE COMPANY

      The  following  is a  complete  list of all  confidential  or  proprietary
information, relevant to the subject matter of my employment by the Company that
have been made or conceived or first  reduced to practice by me alone or jointly
with others prior to my  employment  by the Company that I desire to remove from
the operation of my Proprietary  Rights and  Confidentiality  Agreement with the
Company, to which this is attached as Exhibit A.

______      No creations, inventions, improvements or other Work Product.

______      Any and all such creations,  inventions,  improvements or other Work
            Product as are described below:

______      Additional sheets attached.

                                                    Employee _____Unassociated Document

GREAT EXPECTATIONS AND ASSOCIATES, INC.

2004 STOCK OPTION PLAN

1.         Purpose. 

The purposes of this 2004 Stock Option Plan (the “Plan”) are to induce certain individuals to remain in the employ or service of Great Expectations and Associates, Inc., a Colorado corporation (the “Company”) and its present and future subsidiary corporations (each a “Subsidiary
”), as defined in Section 425(f) of the Internal Revenue Code of 1986, as amended (the “Code”), to attract new individuals to enter into such employment and service and to encourage such individuals to secure or increase on reasonable terms their stock ownership in the Company. The Board of Directors of the Company (the “Board”) believes that the granting of stock options (the “Options
”) under the Plan will promote continuity of
management and increased incentive and personal interest in the welfare of the Company and aid in securing its continued growth and financial success. Options will be either (a) “incentive stock options” (which term, when used herein, shall have the meaning ascribed thereto by the provisions of Section 422 (b) of the Code) or (b) options which are not incentive stock options (“non-incentive stock options”), as determined at the time of the grant thereof by the Administrator referred to in Section 3(A) hereof. 

2.            Shares Subject to Plan. 

Options may be granted to purchase up to Two Million Three Hundred Eighty One Five Hundred Twenty Five (2,381,525) shares of the common stock, par value $0.001 per share (the “Common Stock”) of the Company. Of the options to purchase up to Two Million Three Hundred Eighty One Five Hundred Twenty Five (2,381,525) such shares shall be initially reserved for options to holders of options of the Advaxis, Inc., a Delaware corporation, 2002 Stock Option Plan as amended on February 19, 2003 (the “2003 Plan”) in substitution for cancellation of the 2003 Plan.

3.            Administration.

(A) The Plan shall be administered by either the Board or, at the option of the Board, a stock option committee (the “Committee”), which, if appointed, shall consist of two or more members of the Board, both or all of whom shall be “disinterested persons” within the meaning of Rule 16b-3(c)(2)(i) promulgated under Section 16(b) of the Securities Exchange Act of 1934 (the “
Exchange Act”). The Committee, if appointed, shall be appointed annually by the Board, which may at any time and from time to time remove any member or members of the Committee, with or without cause, appoint additional members to the Committee and fill vacancies, however caused, in the Committee. A majority of the members of the Committee shall constitute a quorum. All determinations of the Committee shall be made by a majority of its members present at a meeting duly called and held. Any decision or determination of the Committee reduced to writing and signed by all of the members of the Committee shall be fully as effective as if it had been made at a meeting duly called and held. The Committee, or if a Committee has not been appointed, the Board, in its capacity as administrator of the Plan, is hereinafter referred to as the
 “
Administrator”.

	 
	 	1 	 
	

	 

(B) Subject to the express provisions of the Plan, the Administrator shall have complete authority, in its discretion, to interpret the Plan, to prescribe, amend and rescind rules and regulations relating to it, to determine the terms and provisions of the respective option agreements or certificates (which need not be identical), to determine the individuals (each a “Participant”) to whom and the times and the prices at which Options shall be granted, the
periods during which each Option shall be exercisable, the number of shares of the Common Stock to be subject to each Option and whether such Option shall be an incentive stock option or a non-incentive stock option and to make all other determinations necessary or advisable for the administration of the Plan. In making such determinations, the Administrator may take into account the nature of the services rendered by the respective Participants, their present and potential contributions to the success of the Company and the Subsidiaries and such other factors as the Administrator in its discretion shall deem relevant. The Administrator’s determination on the matters referred to in this Section 3(B) shall be conclusive. Any dispute or disagreement which may arise under or as a result of or with respect to any Option shall be determined by the Administrator, in its sole discretion, and any interpretations by the Administrator of the terms of any Option shall be final, binding and conclusive.

4.            Eligibility. 

An Option may be granted to (1) employees and consultants of the Company or a Subsidiary, (2) directors of the Company or a Subsidiary who are not employees of the Company or a Subsidiary (“Outside Directors”), and (3) employees and consultants of a corporation which has been acquired by the Company or a Subsidiary as provided in Section 17.

5.            Option Prices. 

(A) Except as otherwise provided in Section 17 hereof, the initial per share option price of any Option which is an incentive stock option shall not be less than the fair market value of a share of the Common Stock on the date of grant; provided, however, that, in the case of a Participant who owns more than 10% of the total combined voting power of the Common Stock at the time an Option which is an incentive stock option is granted to him, the initial per share option price shall not be less than 110% of the fair market value of a share of the Common Stock on the date of grant. 

(B) Except as otherwise provided in Section 17 hereof, the initial per share option price of any Option which is a non-incentive stock option shall not be less than 85% of the fair market value of a share of the Common Stock on the date of grant. 

(C) For all purposes of this Plan, the fair market value of a share of the Common Stock on any date shall be equal to, if the Common Stock is listed on a national securities exchange or traded on the NASDAQ National Market System, the closing sale price of a share of the Common Stock on such date or, if there is no sale of the Common Stock on such date, the average of the bid and asked prices on such exchange or system at the close of trading on such date or, if the shares of the Common Stock are not listed on a national securities exchange or such system on such date, the last per share sales price of Common Stock on the market or system of the NASD on which the Common Stock is then traded or listed (the “Relevant
Market System”) during the three business days ending on the date of grant or exercise as reported in the market report for the Relevant Market System or if no sale has been reported for such period, the higher of the (i) closing bid price on the Relevant Market System on the date of grant or exercise or (ii) the average of the closing bid prices on the Relevant Market System for the three business days immediately preceding the date of grant or exercise, in each case as reported in the Market Report for the Relevant Market System or, if the shares of the Common Stock are not traded or listed on a market or system of the NASD, as shall be determined in good faith by the Administrator. 

	 
	 	2 	 
	

	 

6.            Option Term. 

Options shall be granted for such term as the Administrator shall determine, not in excess of ten years from the date of the granting thereof; provided, however, that, except as otherwise provided in Section 17 hereof, in the case of a Participant who owns more than 10% of the total combined voting power of the Common Stock at the time an Option which is an incentive stock option is granted to him, the term with respect to such Option shall not be in excess of five years from the date of the granting thereof; and provided, further, however, that the term of an Option granted to an Outside Director shall be ten years form the date of the granting thereof. 

7.         Limitation on Amount of Incentive Stock Options Granted. 

Except as otherwise provided in Section 17 hereof, the aggregate fair market value of the shares of the Common Stock for which any Participant may be granted incentive stock options which are exercisable for the first time in any calendar year (whether under the terms of the Plan or any other stock option plan of the Company) shall not exceed $100,000. 

8.            Exercise of Options. 

(A) Except as otherwise provided in Section 17 hereof and except as otherwise determined by the Administrator at the time of the grant thereof, a Participant may (i) during the period commencing on the first anniversary of the date of the granting of an Option to him and ending on the day preceding the second anniversary of such date, exercise such Option with respect to one-quarter of the shares granted thereby, (ii) during the period commencing on such second anniversary and ending on the day preceding the third anniversary of the date of the granting of such Option, exercise such Option with respect to such number of shares as when added to
the number of shares previously purchased under the Option does not exceed one-half of the shares granted thereby, and (iii) during the period commencing on such third anniversary, and ending on the day preceding the fourth anniversary of the date of the granting of such Option, exercise such Option with respect to such number of shares as when added to the number of shares previously purchased under the Option does not exceed three-quarters of the shares granted thereby, and (iv) during the period commencing on such fourth anniversary, exercise such Option with respect to all of the shares granted thereby.

	 
	 	3 	 
	

	 

(B) To the extent exercisable, an Option may be exercised either in whole at any time or in part form time to time. 

(C) An Option may be exercised only by a written notice of intent to exercise such Option with respect to a specific number of shares of Common Stock and payment of the option price to the Company for the number of shares of Common Stock specified in any one or a combination of the following: in cash, by cashless exercise, or in kind by the delivery of shares of the Common Stock having a fair market value on the date of delivery equal to the portion of the option price so
paid; provided, further, however, that, subject to the requirements of Regulation T promulgated under the Exchange Act, the Administrator may implement procedures to allow a broker chosen by a Participant to make payment of all or any portion of the option price payable upon the exercise of an Option and receive, on behalf of such Participant, all or any portion of the shares of the Common Stock issuable upon such exercise. 

(D) The Administrator may, in its discretion, permit any Option to be exercised, in whole or in part, prior to the time when it would otherwise be exercisable.

9.           Transferability. 

No Option shall be assignable or transferable except by will and/or by the laws of descent and distribution and, during the life of any Participant, each Option granted to him may be exercised only by him. 

10.         Termination of Service. 

(A) Except as otherwise provided by the Administrator, in the event that, other than by reason of death or disability (as such term is defined in Section 22(e)(3) of the Code), a Participant leaves the employ or service of the Company and the Subsidiaries or, in the case of an Outside Director, does not stand for re-election or is not reelected, whether voluntarily or otherwise, each Option theretofore granted to him shall be exercisable to the extent exercisable immediately prior to the date of termination of employment or service (or the date the Director does not stand for reelection or is not reelected) within the period ending the earlier to
occur of (i) the expiration of the period of three months after the date of such termination of services or failure to stand for or be reelected a Director and (ii) the date specified in such Option. 

(B) In the event a Participant's employment or service (including the service of an Outside Director) with the Company and the Subsidiaries terminates by reason of his death, each Option theretofore granted to him shall become immediately exercisable in full and shall terminate upon the earlier to occur of (i) the expiration of the period of one year after the date of such Participant’s death and (ii) the date specified in such Option. 

(C) Except as otherwise provided by the Administrator, in the event that, a Participant leaves the employ or service of the Company and the Subsidiaries by reason of his or her disability (as such term is defined in Section 22(e)(3) of the Code), each Option theretofore granted to him shall become immediately exercisable in full and shall terminate upon the earlier to occur of (i) the expiration of the period of three months after the date of such termination, resignation or failure to stand for election or to be reelected and (ii) the date specified in such Option. 

	 
	 	4 	 
	

	 

11.         Adjustment of Number of Shares. 

(A) In the event that a dividend shall be declared upon the Common Stock payable in shares of the Common Stock, the number of shares of the Common Stock then subject to any Option and the number of shares of the Common Stock which may be purchased upon the exercise of Options granted under the Plan but not yet covered by an Option shall be adjusted by adding to each share the number of shares which would be distributable thereon if such shares had been outstanding on the date fixed for determining the stockholders entitled to receive such stock dividend. In the event that the outstanding shares of the Common Stock shall be changed into or
exchanged for a different number or kind of shares of stock or other securities of the Company or of another corporation, whether through reorganization, recapitalization, stock split-up, combination of shares, sale of assets, merger or consolidation in which the Company is the surviving corporation, then, there shall be substituted for each share of the Common Stock then subject to any Option and for each share of the Common Stock which may be purchased upon the exercise of Options granted under the Plan but not yet covered by an Option, the number and kind of shares of stock or other securities into which each outstanding share of the Common Stock shall be so changed or for which each such share shall be exchanged. 

(B) In the event that there shall be any change, other than as specified in Section 11(A) hereof, in the number or kind of outstanding shares of the Common Stock, or of any stock or other securities into which the Common Stock, shall have been changed, or for which it shall have been exchanged, then, if the Administrator shall, in its sole discretion, determine that such change equitably requires an adjustment in the number or kind of shares then subject to any Option and the number or kind of shares available for issuance in accordance with the provisions of the Plan but not yet covered by an Option, such adjustment shall be made by the
Administrator and shall be effective and binding for all purposes of the Plan and of each Option. 

(C) In the case or any substitution or adjustment in accordance with the provisions of this Section 11, the option price in each Option for each share covered thereby prior to such substitution or adjustment shall be the option price for all shares of stock or other securities which shall have been substituted for such share or to which such share shall have been adjusted in accordance with the provisions of this Section 11. 

(D) No adjustment or substitution provided for in this Section 11 shall require the Company to sell a fractional share under any Option. 

(E) In the event of the dissolution, liquidation, sale of substantially all of the assets of the Company or the sale of the Company of more than 50% of the voting securities of the Company, the Board, in its discretion, may accelerate the exercisability of each Option and/or terminate the same within a reasonable time thereafter. 

	 
	 	5 	 
	

	 

12.        Purchase for Investment, Withholding and Waivers. 

(A) Unless the delivery of the shares upon the exercise of an Option by a Participant shall be registered under the Securities Act of 1933, as amended, such Participant shall, as a condition of the Company's obligation to deliver such shares, be required to give a representation in writing that he is acquiring such shares for his own account as an investment and not with a view to, or for sale in connection with, the distribution of any thereof. 

(B) In the event of the death of a Participant, an additional condition of exercising any Option shall be the delivery to the Company of such tax waivers and other documents as the Administrator shall determine. 

(C) An additional condition of exercising any non-incentive stock option shall be the entry by the Participant into such arrangements with the Company with respect to withholding as the Administrator shall determine; provided, however, that such Participant may direct the Company to satisfy all or a portion of such withholding obligation by withholding from the shares of the Common Stock issuable to him on such exercise shares of the Common Stock having a fair market value equal to the portion of the withholding obligation so satisfied. 

13.       Declining Market Price. 

In the event the fair market value of the Common Stock declines below the option price set forth in any Option, the Administrator may, subject to the approval of the Board, at any time, adjust, reduce, cancel and re-grant any unexercised Option or take any similar action it deems to be for the benefit of the Participant in light of the declining fair market value of the Common Stock. 

14.        No Stockholder Status; No Restrictions on Corporate Acts; No Employment Right. 

(A) Neither any Participant nor his legal representatives, legatees or distributees shall be or be deemed to be the holder of any share of the Common Stock covered by an Option unless and until a certificate for such share has been issued. Upon payment of the purchase price therefore, a share issued upon exercise of an Option shall be fully paid and non-assessable. 

(B) Neither the existence of the Plan nor any Option shall in any way affect the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or prior preference stock ahead of or affecting the Common Stock or the rights thereof, or dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding whether of a similar character
or otherwise. 

	 
	 	6 	 
	

	 

(C) Neither the existence of the Plan nor the grant of any Option shall require the Company or any Subsidiary to continue any Participant in the employ or service of the Company or such Subsidiary. 

15.          Termination and Amendment of the Plan. 

The Board may at any time terminate the Plan or make such modifications of the Plan as it shall deem advisable; provided, however, that the Board may not, without further approval of the holders of the shares of the Common Stock, increase the number of shares of the Common Stock as to which Options may be granted under the Plan (as adjusted in accordance with the provisions of Section 11 hereof), or change the class of persons eligible to participate in the Plan, or change the manner of determining the Option prices, or extend the period during which an Option may be granted or exercised. Except as otherwise provided in Section 16 hereof, no termination or amendment of the Plan may, without the consent of the Participant to whom any Option shall theretofore have been granted, adversely affect the rights of such
Participant under such Option. 

16.        Expiration and Termination of the Plan. 

The Plan shall terminate on November 12, 2014 or at such earlier time as the Board may determine. Options may be granted under the Plan at any time and from time to time prior to its termination. Any Option outstanding under the Plan at the time of termination of the Plan shall remain in effect until such Option shall have been exercised or shall have expired in accordance with its terms. 

17.          Options Granted in Connection With Acquisitions. 

The Administrator may determine, in connection with the acquisition by the Company or a Subsidiary by way of exchange or purchase of stock, purchase of assets, merger or reverse merger or otherwise of another corporation which will become a Subsidiary or division of the Company (such corporation being hereafter referred to as an “Acquired Subsidiary”), that Options may be granted hereunder to employees or consultants and other personnel of an Acquired Subsidiary in exchange for then outstanding options to purchase securities of the Acquired Subsidiary. The Administrator, at its discretion shall determine as to such Options, the
option prices, may be exercisable immediately or at any time or times either in whole or in part, and such other provisions not inconsistent with the Plan, or the requirements set forth in Section 15 hereof that certain amendments to the Plan be approved by the stockholders of the Company. 

18.          Lock-Up.

A Participant agrees not to effect any sale, transfer or distribution of any Option granted hereunder or any common stock or other equity securities issued or issuable upon exercise of an Option granted hereunder, or any interest therein, until the earlier of (a) the date that a registration statement with respect to the Company's equity securities purchased by certain of the Company's investors pursuant to that certain Securities Purchase Agreement, dated as of September 14, 2004, by and among the Company and the investors signatory thereto has been filed with and declared effective by the Securities and Exchange Commission, and (b) November 12, 2005, unless (i) such sale, transfer or distribution is approved in writing by a Majority of the Investors (as such term is defined in the
aforementioned Securities Purchase Agreement), and (ii) the transferee of such sold, transferred or distributed Option, common stock, equity securities or other interest agrees in writing to be bound by the terms of this Section 18.

* * *

	 
	 	7

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