Document:

Fiscal Year 2010 Bonus and Long-Term Incentive Plan

 Exhibit 10.1 
 IMMUCOR, INC. 
 FY 2010 Bonus and Long-Term Incentive Plan 
 Adopted June 4, 2009 
 Bonus Plan

 This is a bonus plan for all Executive officers, (Executive officers = CEO, CSO, CFO, General Counsel and any other individuals determined by the
Board to be an executive officer for SEC purposes), other officers (Vice Presidents), directors, and director-equivalent-level professional positions as determined by management. 
 All bonuses will be based on the company achieving specified FY 2010 goals for net income, product quality and new product introduction established by the Compensation Committee of the Board of Directors, and on
achievement of individual performance objectives established for each participant at the beginning of the Company’s fiscal year. Target net income is subject to such adjustments as may be deemed appropriate by the Compensation Committee to
account for acquisitions, reorganizations and other events not contemplated by the Compensation Committee at the time the bonus plan was adopted. 
 Employees who are eligible to receive commissions will not be eligible to participate in the bonus plan. 
 To be eligible to receive a bonus, the
employee must have been employed by the company not later than March 1 of the fiscal year to which the bonus applies (the “bonus year”), and must be employed by the company at the time bonuses for the bonus year are paid. For
employees who have not been employed by the company for the full bonus year, bonuses will be prorated on a monthly basis, with initial employment during the first 15 days of a month being treated as employment for the full month, and initial
employment after the first 15 days of a month not being treated as a month of employment. 
 Award levels are stated as a percentage of base compensation or
salary. For LTI awards this means base compensation or salary as of May 31, 2009; for bonuses this means base compensation or salary as of May 31, 2010. 
 The Compensation Committee will have the authority to interpret the terms and provisions of the bonus plan and to otherwise supervise the administration of the bonus plan. Any determination made by the Compensation Committee under the bonus
plan will be final and binding on all persons, including the company and the participants. 
 Target Bonus Awards 
 The following table shows target annual bonus awards and the bonus awards earned at 105% and 110% or more of FY 2010 target net income, as a percentage of base
compensation for each level of plan participant. Bonus awards can be earned on a prorated basis if actual net income is 90% or more but less than 100% of target net income. 

										
	 Position Level
	  	Bonus Award (% of Base Compensation)*	 
	  	Target Bonus
(100% of Target
Net Income*)	 	 	105% of
Target Net
Income*	 	 	110% of Target
Net Income or
Above*	 
	 Executive Officers
	  	12.5	%	 	25	%	 	37.5	%
				
	 Other Officers (Vice Presidents)
	  	7.5	%	 	15	%	 	22.5	%
	 Directors & Equivalent>$100,000 Salary
	  	6	%	 	12	%	 	18	%
	 Directors & Equivalent $80,000 - $100,000 Salary
	  	5	%	 	10	%	 	15	%
	 Directors & Equivalent <$80,000 Salary
	  	4	%	 	8	%	 	12	%

  

	*	Assumes that product quality, new product introduction and individual performance goals are achieved. 

 Bonus Award Determination 
 Plan participants will be eligible for bonuses based on 3 components, weighted equally:

  

	•	 	 Immucor’s actual net income compared to target net income for FY 2010 (Net Income Component) 

  

	•	 	 The achievement of corporate goals for product quality and new product introduction for FY 2010 (Product Component); and 

  

	•	 	 The achievement of individual performance objectives for FY2010 (Individual Goals Component). 

 If net income is below 90% of target net income, no bonus payments will be made under the bonus plan, regardless of achievement of goals under the Product Component and
Individual Goals Component. 

 NET INCOME COMPONENT 
 Net Income Levels 
 The following table shows the percentage of the Net Income Component that will be earned if net income is at or
below the FY 2010 target net income. 
  

			
	 If net income is the
following percent of
target net income*
	  	 Percentage of Net
Income Component
Earned

	<95%	  	0%
	95%	  	50%
	100%	  	100%

  

	*	Net Income Component will be prorated for in-between percentages of target net income. 

 PRODUCT COMPONENT 
 Product Quality and New Product Introduction 
 If net income is at least 90% of target net income, 
  

	•	 	 The Product Component may be earned through achievement of corporate goals for product quality and new product introductions for FY 2010. 

 The amount of the Product Component earned for performance in this area will be prorated for partial achievement of goals. 

INDIVIDUAL GOALS COMPONENT 
 Individual Goals 

 If net income is at least 90% of target net income, 
  

	•	 	 The Individual Goals Component may be earned through achievement of individual performance goals for FY 2010. For employees that have specific country/region
revenue goals, a minimum of 50% of the individual goals will be based on the achievement of these objectives. 

 The amount of the
Individual Goals Component earned for performance for this area will be prorated for partial achievement of goals with the exception of employees that have specific country/region revenue goals who must achieve 100% of their revenue goals.

 Discretionary CEO Bonus Pool 
 The company will also
establish a separate $200,000 bonus pool for FY 2010 (to be accrued $50,000 a quarter), and bonuses could be granted by the CEO on a discretionary basis to non-executive officers. No bonuses are required to be granted from this bonus pool.

 Long-Term Incentive Plan 
 Long-term incentives (i.e., equity incentives) will be awarded for FY 2010 based on position and salary levels. Directors and equivalent positions and above will be eligible for grants of stock options and restricted
stock; those below directors and equivalent will not be eligible for grants of long-term/equity incentives, unless a special award to an employee at this level is recommended by the CEO and approved by the Compensation Committee. Employees who are
eligible to receive commissions will not be eligible to participate in the Long Term Incentive Plan. 
 The Compensation Committee will have the authority to
interpret the terms and provisions of the long-term incentive plan and to otherwise supervise the administration of the long-term incentive plan. Any determination made by the Compensation Committee under the long-term incentive plan will be final
and binding on all persons, including the company and the participants. 
 Executive Officers 
  

					
	Target value of LTI awarded:	  	CEO – 150% of base compensation
		  	Other Executive Officers – 90% of base compensation
			
	LTI target mix – CEO:	  	Restricted Stock Value	  	65% of LTI target value
		  	Stock Option Value	  	35% of LTI target value
		
	LTI target mix – Other Executive Officers:	  	
			
		  	Restricted Stock Value	  	75% of LTI target value
		  	Stock Option Value	  	25% of LTI target value
	
	Long-term incentive grants to executive officers will be subject to stock retention guidelines established by the Compensation Committee from time to time.
			
	Other Officers (Vice Presidents)	  		  	
		
	Target value of LTI awarded:	  	45% of base compensation for salaries $200,000 +
		  	30% of base compensation for salaries < $200,000
			
	LTI target mix:	  	Restricted Stock Value	  	75% of LTI target value
		  	Stock Option Value	  	25% of LTI target value

 Directors and Director-Equivalent Positions 
  

					
	Target value of LTI awarded:	  	20% of base compensation for salaries $130,000 +
		  	15% of base compensation for salaries $90,000 - 130,000
			
	LTI target mix:	  	Restricted Stock Value	  	75% of LTI target value
		  	Stock Option Value	  	25% of LTI target value

 Calculation of Share Amounts 
 Each element of the LTI grant (i.e., stock options and restricted stock) is intended to represent the estimated economic value of that element on the day before the date of grant. For purposes of determining the
number of shares covered by each element, the following calculation should be used, which assumes (for illustration purposes only) that the economic value of stock options, using the Black-Scholes method, is 40% of the fair market value the day
before the grant and a target mix of 75% Restricted Stock and 25% Stock Options: 
 LTI Target Value x 75% = Restricted Stock Value

 LTI Target Value x 25% = Stock Option Value 
 # Restricted Shares = Restricted Stock Value/ fair market value of the stock the day before the grant 
 #
Stock Option Shares = Stock Option Value / (Black Scholes ratio (40%) x fair market value the day before the grant of the stock) 
 Vesting for
Employees 
 Stock Options will vest over four (4) years, 25% per year on the anniversary of the date of grant. 
 Restricted Stock will vest over five (5) years, 20% per year on the anniversary of the date of grant.Agreement between Senetek PLC and the Institute of Experimental Botany

 Exhibit 10.1 
 AMENDMENT AGREEMENT No. 3 
 This Amendment Agreement No. 3, effective as of January 1, 2009 is between
the Institute of Experimental Botany, v. v. i., Academy of Sciences of the Czech Republic, having offices at Rozvojova 263, 165 02 Praha 6, Czech Republic (“INSTITUTE”) on one side, and Senetek PLC, having offices at 831A Latour Court,
Napa, CA 94558, USA (“SENETEK”) on the other side. 
 WITNESSETH: 
 WHEREAS the PARTIES have entered into AGREEMENT ON COOPERATIVE RESEARCH AND DEVELOPMENT which became effective on June 6, 2003; 
 WHEREAS on October 18, 2004 the PARTIES agreed to amend their AGREEMENT ON COOPERATIVE RESEARCH AND
DEVELOPMENT dated 6th June 2003 as follows: 
  

	 	•	 	 The PARTIES will share the expenses of patent protection of international and national patents filed on the basis of PATENT APPLICATION PCT/CZ02/00045; and

  

	 	•	 	 the scope of future licenses to be granted to SENETEK will cover all claims of patents based on the PATENT APPLICATION, those issued INSTITUTE PATENTS already
existing when a license is granted, any applications for INSTITUTE PATENTS as to which SENETEK assumes the costs of patent protection under Article 5.1, and any new patents prepared by the PARTIES under Article 5.1. 

 WHEREAS on December 6, 2005 PARTIES agreed to amend their AGREEMENT ON COOPERATIVE RESEARCH AND DEVELOPMENT to include further inventions and patent
applications: 
  

	 	•	 	 The PARTIES will share expenses of patent protection of international and national patents filed on the basis of patent application PCT/CZ03/00078, and

  

	 	•	 	 The PARTIES will share expenses of patent protection of three new patent applications, covering 

  

	 	•	 	 8-substituted cytokinins provisionally titled “Supercytokinins” 

  

	 	•	 	 “2-methylthiocytokinins” 

  

	 	•	 	 tetrahydropyranyl derivatives of cytokinin substituted in position N9 

 COMMERCIAL TERMS GOVERNING LICENSE are added to Appendix of this Agreement. 
 WHEREAS now PARTIES agreed to amend their AGREEMENT ON COPERATIVE RESEARCH AND DEVELOPMENT as follows: 
  

	 	•	 	 INSTITUTE has changed its status to a Public Research Institution, and its title now is: Institute of Experimental Botany, v. v. i. Academy of Sciences of the Czech
Republic 

  

	 	•	 	 PARTIES agreed to add another group of compounds to NEW PATENT APPLICATIONS 

  

	 	•	 	 INSTITUTE performes for SENETEK additional activities. These new activities are specified in new Article 3.8 

  

	 	•	 	 PARTIES agreed to extend their research co-operation by 6 years and consequently Article 4.2 is changed 

  

 1 

	 	•	 	 Under the research co-operation INSTITUTE has created two new patent applications: PCT/US2007/073142, and US 11/966,559. These new patent applications are described
in DEFINITIONS and in Article 5. 5 and 5.6. 

  

	 	•	 	 PARTIES agreed to extent confidentiality obligation of INSTITUTE and amend Article 6.1 

 NOW THEREFORE in consideration of the mutual covenants set forth below and other good and valuable considerations, the PARTIES agree as follows: 
 Amendment No. 3 to AGREEMENT ON COOPERATIVE RESEARCH AND DEVELOPMENT 
 Amend AGREEMENT ON COOPERATIVE RESEARCH AND DEVELOPMENT and its Appendix – LICENSE AGREEMENT TERM SHEET as shown in Exhibit 1 attached to this AMENDMENT AGREEMENT and made an integral part thereof. 
 IN WITNESS WHEREOF the PARTIES hereto have caused this AMENDMENT AGREEMENT to be executed by their duly authorized representatives in a manner legally binding
upon them as of the date first set forth above. 
  

					
	For INSTITUTE OF EXPERIMENTAL BOTANY	 		 	For SENETEK PLC
			
	By:	 		 	By:
			
	/s/ Dr. Eva Zazimalová	 		 	/s/ Frank J. Massino
	Dr. Eva Zazimalová	 		 	Frank J. Massino
	Function: Director of Institute	 		 	Function: Chairman & CEO
		 		 	

  

 2 

 EXHIBIT 1 
 AGREEMENT ON COOPERATIVE RESEARCH AND DEVELOPMENT 
 between 
 Institute of Experimental Botany, v. v. i. 
 Academy of Sciences of the Czech Republic 
 Rozvojova 135 
 165 02 Praha 6 
 Czech Republic 
 (hereinafter referred to as the INSTITUTE) 
 and 
 Senetek PLC 
 620 Airpark Road

 Napa, CA 94558 
 USA 

(hereinafter referred to as SENETEK) 
 WHEREAS the
INSTITUTE in its Laboratory of Growth Regulators headed by Professor Miroslav Strnad is performing basic research on cytokinins and related plant growth regulators and is willing to provide to SENETEK samples of cytokinins and cytokinin analogs and
related information developed at the INSTITUTE including those covered by patents and/or patent applications owned by the INSTITUTE, for testing, possible further development by the INSTITUE and SENETEK, and ultimately possible licensing to SENETEK;
and 
 WHEREAS SENETEK is a company developing pharmaceutical and cosmeceutical products and, in connection with such business, has made certain inventions
regarding cytokinins and cytokinin analogs and methods of using them for various indications related to ameliorating signs of aging and anti-inflammatory indications which are covered by the SENETEK PATENTS, as hereinafter defined; and 

WHEREAS SENETEK is interested in testing and evaluating, in cooperation with the INSTITUTE, compounds, as hereinafter defined, developed by the INSTITUTE and in
obtaining licenses covering such of these compounds as it may select as hereinafter provided. 
  

 3 

 NOW THEREFORE in consideration of above-mentioned premises the parties agree as follows: 
 ARTICLE 1 – DEFINITIONS 
 AFFILIATES as used herein shall mean
any legal entity which, at the EFFECTIVE DATE or during the validity of this Agreement: 
  

	 	•	 	 directly or indirectly controls SENETEK, 

  

	 	•	 	 is under the same direct or indirect control as SENETEK, or 

  

	 	•	 	 is directly controlled by SENETEK 

 A
legal entity is considered controlling another: 
  

	 	•	 	 when it directly or indirectly owns over 50% (fifty percent) of the capital of this legal entity or more than 50% (fifty percent) of the voting rights of its
shareholders or associates; or 

  

	 	•	 	 when it has the direct or indirect de facto, directly or indirectly, the power to decide within this legal entity how the affairs shall be conducted.

 AGREEMENT as used herein shall mean this agreement and any and all Annexes, appendices and other addenda to it as it may be varied from
time to time 
 COMPOUNDS as used herein means cytokinins and related compounds, developed,
in-licensed or otherwise acquired by the INSTITUTE that may be used for any application, with initial priority focus on medical skin care applications and/or cosmetic skin care applications. Cytokinins can be chemically defined as N6–substituted adenine derivatives. These compounds may be optionally substituted at different positions of purine ring by another substituent. The compounds
can exhibit one or more of the following biological activites, among others: cytokinin activity in tobacco callus, wheat antisenescent and Amaranthus bioassay, antisenescent activity on human fibroblasts, cytotoxicity for skin cancer cells,
antipsoriatic activity for hyperproliferative skin cells, anti-inflammatory activity for skin cells and other anti-senescence skin cell activities. 
 TESTING as used herein means any testing, with initial priority focus on cytokinin activity and cytotoxicity testing to determine the most suitable COMPOUNDS for further development for medical skin care applications and/or cosmetic skin
care applications. 
 PARTY as used herein means either of the PARTIES to this AGREEMENT as the case may be, and both of them when used in plural.

 PATENT APPLICATION PCT/CZ02/00045 as used herein means patent application of the INSTITUTE
PCT/CZ02/00045 filed on August 1, 2002 titled “Heterocyclic compounds based on N6-substituted adenine, methods for their preparation,
their use for preparation of drugs, cosmetic preparations and growth regulators, pharmaceutical preparations, cosmetic preparations and growth regulators containing these compounds” inventors Dolezal et al. (published on May 15, 2003),
owner UEB AV CR. 
 PATENT APPLICATION PCT/CZ03/00078 as used herein means patent application of the
INSTITUTE PCT/CZ03/00078 filed on 29th Dec. 2003 with international priority date 30th Dec. 2002, published under WO 2004/058791, titled: “Substitution derivatives of N6-benzyladenosine, methods of their preparation, their use for preparation of drugs, cosmetic
preparations and growth regulators, pharmaceutical preparations, cosmetic preparations and growth regulators containing the compounds”, inventors: Dolezal Karel, Dr.Mgr., Zatloukal 

  

 4 

 
Marek, RNDr., Popa Igor, Dr., Lenobel René, Mgr., Hradecka Dana, Ing., Vojtesek Borivoj, RNDr. DrSc., Uldrijan Stjepan, Mgr. CSc., Mlejnek Petr, RNDr.
CSc., Strnad Miroslav, Prof. Ing. CSc., Werbrouck Stefaan, Dr., owner: UEB AV CR, having date for entry into national phase 30th June 2005 and
date for European regional phase 30th July 2005. 
 PATENT APPLICATION PCT/US2007/073142, as used herein means patent application of the INSTITUTE PCT/US2007/073142, titled “6.9-disubstituted purine derivatives and their use for treating skin”, filed on July 10, 2007, claiming
the priority of US 60/806871 filed July 10, 2006 and of US 11/774,652 filed July 9, 2007, inventors: Szucova Lucie, Zatloukal Marek, RNDr., Spichal Lukas, Frohlich Ludek, Dolezal Karel, Dr., Mgr., Strnad Miroslav, Prof., Ing. CSc., Massino
Frank J., owner: UEB AV CR. 
 PATENT APPLICATION US 11/966,559 as used herein means patent application titled, “6.9-didsubstituted purine derivatives
and their use as cosmetics and cosmetic compositions”, filed on December 28, 2007, in the names of inventors, assignee is UEB AV CR, including any applications claiming the priority thereof, inventors: Strnad Miroslav, Prof. Ing. CSc.,
Szucova Lucie, Massino Frank J., Voller Jiri, Dolezal Karel, Dr. Mgr., Spichal Lukas, Zatloukal Marek, RNDr. 
 NEW PATENT APPLICATIONS as used herein
means patent applications of INSTITUTE to be prepared and filed in the name of INSTITUTE, subject of which will be 
  

	 	•	 	 8-substituted cytokinins provisionally titled “Supercytokinins” 

  

	 	•	 	 “2-methylthiocytokinins” 

  

	 	•	 	 tetrahydropyranyl derivatives of cytokinin substituted in position N9 

  

	 	•	 	 “Supercytokinin Plus” - Supercytokinins with tetrahydropyranyl moiety 

 INSTIUTE PATENTS as used herein means currently owned patents and patent applications of INSTITUTE covering cytokinin-like COMPOUNDS. 
 SENETEK PATENTS as used herein means SENETEK’s issued patents (U.S. Patents 5,371,089, 5,602,139, 5,614,407, 5,021,422, 5,164,394, and 5,151,425 and the
corresponding international and foreign patents) related to the use of cytokinins for anti-inflammatory indications and for medical skin care applications and/or cosmetic skin care applications, and any patents hereafter issued which are entitled to
the same priority date(s) as such issued patents. 
 PROPOSED PATENTS as used herein means any new patent issued on a PATENT APPLICATION PCT/CZ02/00045,
PATENT APPLICATION PCT/CZ03/00078, PATENT APPLICATION PCT/US2007/073142, PATENT APPLICATION US 11/966,559, and NEW PATENT APPLICATION as provided hereinafter, and all related patents, inventor certificates, utility certificates, and models and
certificates of addition and all foreign counterparts of them, including any divisional application and patents, re-filings, renewals, continuations, continuations-in-part, patents of addition, extensions, reissues, substitutions, confirmations,
registrations, revalidations and additions of or to any of them, as well as any supplementary protection certificates and equivalent protection rights based on the above patent applications. 
 PRODUCT as used herein means any product which or the process of production of which falls within a VALID CLAIM of patent licensed to SENETEK pursuant to this AGREEMENT.

  

 5 

 SUB-LICENSEES as used herein mean any third parties who may obtain a license from SENETEK to develop and/or commercially
exploit any COMPOUND covered by a patent licensed to SENETEK pursuant to this AGREEMENT. 
 FIRST COMMERCIAL SALE as used herein means the first commercial
sale of a PRODUCT to a third party made by either SENETEK or its AFFILIATES or SUB-LICENSEES. 
 NET SALES as used herein means the gross amount invoiced by
SENETEK and its AFFILIATES to their customers including distributors and third parties for sales of PRODUCTS, less any normal trade discounts and credit notes issued in respect of returned PRODUCTS, any purchase, sales, import, or value added taxes,
and charges in respect to carriage. For the purposes of royalty calculation due to the INSTITUTE from SENETEK all deductions will not exceed 10% (ten percent) of the gross sales. Should SENETEK sell PRODUCTS to an AFFILIATE (or vice-versa) which
thereafter sell them to an unrelated third party, the sales between the AFFILIATE (or SENETEK) and the unrelated third party (and not the sales between SENETEK and its AFFILIATE) shall be considered NET SALES. 
 VALID CLAIM as used herein means any claim of an issued and un-expired patent or a claim of a pending patent application licensed to SENETEK pursuant to this AGREEMENT
which has not been held un-patentable, invalid or unenforceable by a court or other government agency of competent jurisdiction and has not been admitted to be invalid or unenforceable through reissue, re-examination, disclaimer or otherwise;
provided, however, that if the holding of such court or agency is later reversed by a court or agency with overriding authority, the claim shall be reinstated as a VALID CLAIM after the date of such reversal. 
 EFFECTIVE DATE as used herein shall mean the date of the last signature of this AGREEMENT by the PARTIES. 
 All plurals may be read in the singular and vice versa. 
 The headings are inserted for convenience only and shall be
ignored in construing this AGREEMENT. 
 ARTICLE 2 - SCOPE OF THE AGREEMENT 
  

	2.1	Subject to the terms and conditions of this AGREEMENT, SENETEK shall from time to time, as provided in Article 3 below, obtain from the INSTITUTE such of the COMPOUNDS (which are
covered by the PATENT APPLICATION PCT/CZ02/00045, PATENT APPLICATION PCT/CZ03/00078, PATENT APPLICATION PCT/US2007/073142, PATENT APPLICATION US 11/966,559, or NEW PATENT APPLICATIONS, or INSTITUTE PATENTS, or the SENETEK PATENTS, or unpatented) as
SENETEK may designate. 

  

	2.2	During the term of this AGREEMENT SENETEK will screen and conduct TESTING of these COMPOUNDS with initial focus on skin models and otherwise for their anti-senescence activity and
toxicity. 

  

 6 

	2.3	If SENETEK finds the TESTED COMPOUNDS of interest and wishes to exploit them commercially, SENETEK and INSTITUTE will negotiate and sign license agreement, as defined in Article 3.5
hereof. 

  

	2.4	SENETEK will pay royalty related to the NET SALES of PRODUCTS to INSTITUTE as set in the ANNEX 1 - License Agreement Term Sheet attached to this AGREEMENT. 

ARTICLE 3 – DUTIES OF THE PARTIES 
  

	3.1	Promptly after the EFFECTIVE DATE, and thereafter at least once every calendar year, the INSTITUTE shall provide SENETEK with a complete listing and description of all COMPOUNDS
developed, in licensed or otherwise acquired by the INSTITUTE, which are covered by the PATENT APPLICATION PCT/CZ02/00045, PATENT APPLICATION PCT/CZ03/00078, PATENT APPLICATION PCT/US2007/073142, PATENT APPLICATION US 11/966,559, NEW PATENT
APPLICATIONS, the INSTITUTE PATENTS, the SENETEK PATENTS, or unpatented, together with all chemical and biological information in its possession with respect to such COMPOUNDS and specifying those COMPOUNDS which are covered by the INSTITUTE
PATENTS. 

  

	3.2	Not later than two (2) weeks after delivery of such information by the INSTITUTE, SENETEK will select and advise the INSTITUTE, in writing, of those COMPOUNDS on which it
wishes to conduct TESTING at that time. Notwithstanding the foregoing, as regards COMPOUNDS which the INSTITUTE’s listing under Article 3.1 specifies are covered by the INSTITUTE PATENTS, if SENETEK does not give the INSTITUTE written advice
that it wishes to conduct TESTING of any such COMPOUND within four (4) months after it receives the listing provided for in Article 3.1, SENETEK shall be considered to have waived its rights to such COMPOUND for all purposes of this AGREEMENT
and the INSTITUTE shall be free to commercialize such COMPOUND itself or enter into an evaluation agreement or license or other agreement with respect thereto with any third party on such terms as it may determine in its sole discretion, subject,
however, to SENETEK’s rights under the SENETEK PATENTS as regards commercialization of any COMPOUND or method covered thereby, provided, however, that before INSTITUTE shall enter into an evaluation agreement or license or other
agreement with any third party, INSTITUTE shall give notice to SENETEK of the terms on which it proposes to enter into such evaluation agreement or license or other agreement and SENETEK shall have thirty (30) days to enter into such agreement
with INSTITUTE on the same terms, providing these terms are not worse for the INSTITUTE than the terms in the LICENSE AGREEMENT TERM SHEET hereof, in which case the terms of the LICENSE AGREEMENT TERM SHEET will be used. 

  

	3.3	The INSTITUTE shall within two (2) weeks of receipt of each advice of SENETEK specifying selected COMPOUNDS it then wishes to test, deliver the selected COMPOUNDS to SENETEK in
a quantity of at least 100 mg each. 

  

	3.4	 If practicable, not later than nine (9) months after each delivery by the INSTITUTE of the listing of COMPOUNDS as provided in Article 3.1, SENETEK will
provide the INSTITUTE with a report of the results of the TESTING of the new COMPOUNDS set 

  

 7 

	 	 
forth in such listing. SENETEK will also indicate those COMPOUNDS for which SENETEK wishes to be granted a license. SENETEK may, if it so chooses, deliver
such reports and indicate COMPOUNDS it wishes to license on more than one occasion during such period. Such license shall be exclusive and world-wide, for all applications. 

  

	3.5	Within three (3) months of SENETEK’s decision to license COMPOUNDS as provided in Article 3.4, the PARTIES will enter into a License Agreement with respect to such
COMPOUNDS having principal terms as set forth in the Term Sheet attached hereto. The final details of the License Agreement will be negotiated in good faith by the PARTIES hereto. 

  

	3.6	If SENETEK does not deliver one or more reports as provided in Article 3.4 or, having delivered such report or reports, decides not to execute a License Agreement negotiated by the
PARTIES as provided in Article 3.5, as to any particular COMPOUND or COMPOUNDS covered by the PATENT APPLICATION PCT/CZ02/00045, PATENT APPLICATION PCT/CZ03/00078, PATENT APPLICATION PCT/US2007/073142, PATENT APPLICATION US 11/966,559, or NEW PATENT
APPLICATIONS, or the PROPOSED PATENTS, then the PARTIES will agree how to commercialize such COMPOUNDS and how to share revenues from such commercialization. Any such agreement on particular COMPOUNDS will be recorded in writing, signed by both
PARTIES, and will become an appendix to this AGREEMENT. In case of COMPOUNDS not covered by PATENT APPLICATION or the PROPOSED PATENTS, INSTITUTE shall be free to commercialize such COMPOUND or COMPOUNDS itself or enter into an evaluation agreement
or license or other agreement with respect thereto with any third party on such terms as it may determine in its sole discretion, subject, however, to SENETEK’s rights under the SENETEK PATENTS as regards commercialization of any
COMPOUND or method covered thereby. 

  

	3.7	INSTITUTE agrees that it will not enter into any cooperative research and development agreement with any third party involving any chemical compounds other than COMPOUNDS for
cosmeceutical or anti-aging dermatological uses without first offering to SENETEK the opportunity to enter into such cooperative research and development agreement instead of such third party on the same terms as those proposed by or to such third
party. 

 SENETEK will exercise its right of first refusal within 4 weeks of receiving the proposed cooperative research and
development agreement. 
  

	3.8	INSTITUTE will perform for SENETEK following activities: 

  

	 	•	 	 pre-selective cell toxicity testing on human fibroblasts and keratinocytes—this assaying will eliminate toxic compounds from each series.

  

	 	•	 	 development of analytical methods for estimation of leading cytokinins in creams and ointments and optimization of extraction methods. 

 

	 	•	 	 stability testing of the compounds in cream and ointments. 

  

	 	•	 	 work on formulation, mainly dissolving of the selected and leading compounds. 

  

	 	•	 	 molecular mechanism of action of cytokinins on skin cells – with aim to discover molecular mechanism of action by the following 3 approaches: microarray
analyses, 2D-gel electrophoreses + MS/MS and affinity chromatography combined with MS/MS proteomic analyses. 

  

 8 

	 	•	 	 screening for unknown molecular targets by testing on kinases and other enzymes. 

  

	 	•	 	 development of large scale synthesis - development of a method for production of leading compounds in kg quantities. 

 ARTICLE 4 – CONSIDERATION; DEVELOPMENT OF SELECTED COMPOUNDS 
 In
addition to the INSTITUTE’s rights of patent ownership under Article 5, as additional consideration for the rights granted to SENETEK herein SENETEK agrees that, if SENETEK advises the INSTITUTE as provided in Article 3.2 that it wishes
INSTITUTE to conduct TESTING on any COMPOUND or COMPOUNDS, SENETEK will be obligated to pay or reimburse the INSTITUTE for the expenses of such TESTING and/or further evaluation, in vitro and in vivo testing, and development of the selected
COMPOUNDS (collectively with the TESTING, the ‘R&D”). Such payments to the INSTITUTE shall be made by bank transfer monthly, as such expenses are incurred, to the account titled Ustav experimentalni botaniky, v. v. i. AV CR,
No.159136233/0300 with Ceskoslovenska obchodni banka, Arbesovo nam. 7, Praha 5 Czech Republic, IBAN: CZ9803000000000159136233, SWIFT CODE: CEKOPCZPP. 
  

	4.1	If the PARTIES agree that any R&D can most efficiently and effectively be done by the INSTITUTE or by a third party laboratory with which the INSTITUTE has a relationship, such
expenses shall be billed at the INSTITUTE’S direct cost of conducting or contracting out such activities. If the PARTIES agree that any R&D can most efficiently and effectively be done by a third party laboratory or academic institution
with which SENETEK has a relationship, SENETEK shall pay for such activities and provide the INSTITUTE with documentation of such payment. 

  

	4.2	To support the INSTITUTE’s research, on the EFFECTIVE DATE and on each anniversary of the EFFECTIVE DATE, SENETEK shall pay to the INSTITUTE, in the manner above set forth, the
sum of ***, plus the following sums: 

  

																			
	 	  	2006	  	2007	  	2008	  	2009	  	2010	  	2011	  	2012	  	2013	  	2014
	 Super- cytokinins (8-substituted cytokinins)
	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***
	 Tetra hydropyranyl cytokinins
	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***
	 2-methyl-thio-cytokinins
	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***
	 Oral availability study
	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***
	 Other tasks defined in Article 3.8
	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***	  	***

 *** Confidential treatment has been requested 
  

 9 

 which amounts shall be retained by the INSTITUTE for development of new cytokinins and cytokinin-like compounds. In 2014
the PARTIES will meet and agree whether to continue the research co-operation and on what conditions. 
  

	4.3	In the event that SENETEK shall be required to pay a tax on any payment to the INSTITUTE, it shall deduct the amount of said tax from the payment due to the INSTITUTE and shall
provide the INSTITUTE with a copy of the Certificate of the tax having been paid pursuant to an Agreement on Avoidance of Double Taxation or for other reasons. 

  

	4.4	It is agreed by the PARTIES that they shall consult in good faith regarding the nature, scope and costs of all R&D, the protocols therefor and the most efficient and effective
sourcing thereof, provided that if agreement cannot be reached between the PARTIES within a reasonable time (having in mind the time limits set forth herein), SENETEK’s position shall prevail. SENETEK shall own all rights to any and all
test reports and test results from R&D paid for or reimbursed by SENETEK as above provided, and the INSTITUTE agrees not to make any publication or other disclosure thereof without SENETEK’S prior written approval. 

ARTICLE 5 – INTELLECTUAL PROPERTY AND EXPLOITATION OF THE RESULTS 
  

	5.1	JOINT INVENTIONS THAT MAY BE CREATED UNDER RESEARCH CO-OPERATION OF PARTIES 

 In the event and on each occasion that the TESTING of the COMPOUNDS reveals an effect of any of the COMPOUNDS that is not covered by the SENETEK PATENTS or issued INSTITUTE PATENTS (though it may be covered by
existing or draft applications for INSTITUTE PATENTS), or by the PATENT APPLICATION PCT/CZ02/00045, PATENT APPLICATION PCT/CZ03/00078, PATENT APPLICATION PCT/US2007/073142, PATENT APPLICATION US 11/966,559, or NEW PATENT APPLICATIONS and that merits
patent protection, the following arrangement shall apply: 
 (a) the PARTIES shall collaborate in the preparation of documents required for
the filing of a patent application on each such invention; 
 (b) all such patent applications shall be filed and owned *** by the INSTITUTE
and *** by Senetek, and SENETEK shall have the right to an exclusive licence for use world-wide, for all applications; 
 (c) each patent
application shall include the names of those employees of the PARTIES (as co-inventors) that were responsible for the development of the invention; 
 (d) the PARTIES will agree on the filing of foreign patent protection; 
 (e) in case SENETEK executes its right to license a
COMPOUND covered by a patent prepared under this Article 5.1, SENETEK will take over the cost of obtaining and maintaining the patent protection of the invention; provided that if such patent covers COMPOUNDS which SENETEK has elected not to
license or claims fields of use for COMPOUNDS licensed to SENETEK that are beyond the fields of use SENETEK has elected to license, the PARTIES shall share such cost according to the commercial potential of SENETEK’S COMPOUND and/or field of
use and such COMPOUND(S) and/or fields of use not licensed to SENETEK. 
 *** Confidential treatment has been requested 
  

 10 

	 	(f) the license fee paid by SENETEK for the grant to it of an exclusive license shall take into account the contribution made by SENETEK (both of cash and intellectual property) to
the jointly developed invention; 

  

	 	(g) if the INSTITUTE does not wish to file a patent application covering a jointly developed invention in a certain TERRITORY, SENETEK may file a patent application covering the
jointly developed invention in such TERRITORY at its own cost in which case the patent protection obtained shall be owned *** by SENETEK. 

  

	5.2	PATENT APPLICATION PCT/CZ02/00045 

  

	5.2.1	The PARTIES decided to file PATENT APPLICATION PCT/CZ02/00045 in China, Japan, South Korea, Taiwan, Vietnam, India, Australia, USA, Canada, Mexico, Brazil, Egypt, Saudi Arabia, and
South Africa, as a European patent, in Israel, New Zealand, Norway, Philippines, Poland, Czech Republic, Slovak Republic, Russia, Singapore, Hungary, and Yugoslavia. 

  

	5.2.2	The PARTIES appointed INVENTIA s.r.o., Na Belidle 3, 150 00 Praha 5, Czech Republic - the Intellectual Property Counsel, which has been given the responsibility of prosecuting all
documents for the preparation, filing, extension, delivery and maintenance of international and national patents based on PATENT APPLICATION PCT/CZ02/00045 (hereinafter COUNSEL). 

  

	5.2.3	Each PARTY will bear patent protection costs in certain territories: 

  

	 	A	SENETEK will bear patent protection costs of European patent (with exception of extension of EP into Slovenia, Lithuania, Latvia, Albania, Romania, and Macedonia), China, Japan,
South Korea, Taiwan, Vietnam, India, Australia, USA, Canada, Mexico, Brazil, Egypt, Saudi Arabia, South Africa, Israel, New Zealand, Norway, Philippines, Poland, Russia, Singapore, Hungary, and Yugoslavia. 

  

	 	B	INSTITUTE will bear patent protection costs in the Czech Republic, Slovak Republic, and costs of Extension of European Patent into: Slovenia, Lithuania, Latvia, Albania, Romania,
and Macedonia. 

  

	 	It is acknowledged that the PARTIES have received an estimate from INVENTIA of the costs of filing national patents under the PATENT APPLICATION referred to above in the respective
countries mentioned above (which in the case of clause A countries totaled ***). If the cost of filing or prosecuting the PATENT APPLICATION in any country substantially exceeds this estimate and the PARTY responsible does not wish to bear such
additional costs, the PARTIES will agree how such costs shall be borne or, if no such agreement is obtained within thirty (30) days, Article 5.3 shall apply. *** of the expenses paid by SENETEK under Article 5.2.3 shall be credited against
initial royalties otherwise due under the license(s) granted to SENETEK under Article 3.5. 

  

	 5.2.4
	 To cover initial patent protection expenses of the PATENT APPLICATION PCT/CZ02/00045 under 5.2.3 A, SENETEK will send to
COUNSEL monthly installments of USD 10,000. First installment is payable on 29th February, 2004, last installment is payable on 31st August, 2004. For delayed installments payments, COUNSEL may charge interest of *** per annum, from the due date to the date of payment. From September
2004, SENETEK will refund to COUNSEL balance of incurred patent protection expenses, as they become due. 

 ***
Confidential treatment has been requested 
  

 11 

	5.3	NEW PATENT APPLICATIONS 

  

	5.3.1	In the event and on each occasion that the TESTING of COMPOUNDS to be covered by the NEW PATENT APPLICATIONS reveals an effect that is not covered by the SENETEK PATENTS or issued
INSTITUTE PATENTS or by the PATENT APPLICATION PCT/CZ02/00045 or PATENT APPLICATION PCT/CZ03/00078, or PATENT APPLICATION PCT/US2007/073142, or PATENT APPLICATION US 11/966,559, and that merits patent protection, the following arrangements shall
apply: 

  

	5.3.2	The NEW PATENT APPLICATIONS will be filed in the name of INSTITUTE. The PARTIES intend to file NEW PATENT APPLICATIONS in China, Japan, South Korea, Taiwan, Vietnam, India,
Australia, USA, Canada, Mexico, Brazil, Egypt, Saudi Arabia, and South Africa, as a European patent (including Hong Kong), in Israel, New Zealand, Norway, Philippines, Euro-Asian Patent and Singapore. 

  

	5.3.3	The PARTIES appointed COUNSEL to prosecute all documents for the preparation, filing, extension, delivery and maintenance of international and national patents based on NEW PATENT
APPLICATIONS. 

  

	5.3.4	Each PARTY will bear patent protection costs in certain territories: 

  

	 	A	SENETEK will bear patent protection costs of European patent (with exception of extension of EP into extension states as they are at the date of filing PCT application), China,
Japan, South Korea, Taiwan, Vietnam, India, Australia, USA, Canada, Mexico, Brazil, Egypt, Saudi Arabia, South Africa, Israel, New Zealand, Norway, Philippines, Euro-Asian Patent and Singapore. 

  

	 	B	INSTITUTE will bear patent protection costs in the Czech Republic, Slovak Republic, and costs of Extension of European Patent into extension states as they are at the date of filing
PCT application. 

  

	5.3.5	Patent applications will be written by INSTITUTE, in English, and will be presented to SENETEK for review and comments. Each patent application will be first filed in USA as a
provisional patent application, and within one year it will be filed as PCT in all other territories. COUNSEL will send to PARTIES invoices as soon as various patent offices and patent attorney’s fees are paid. Before entry to national phase
(30 months from first filing date) SENETEK will provide to COUNSEL retainer of *** for each NEW PATENT APPLICATION and upon approval of PARTIES, on divided patent applications. 

  

	5.3.6	Before the first filing, before the PCT filing, and before entry into national phase PARTIES will receive an estimate from COUNSEL of the expected costs of each NEW PATENT
APPLICATION referred to above in the respective countries mentioned above. If the cost of filing or prosecuting any NEW PATENT APPLICATION in any country substantially exceeds this estimate and the PARTY responsible does not wish to bear such
additional costs, the PARTIES will agree how such costs shall be borne or, if no such agreement is obtained within thirty (30) days, Article 5.3 shall apply. *** of the expenses paid by SENETEK under Article 5.2.3 shall be credited against
initial royalties otherwise due under the license(s) granted to SENETEK under Article 3.5. 

 *** Confidential treatment has
been requested 
  

 12 

	5.3.7	In case SENETEK executes its right to license a COMPOUND covered by a patent prepared under this Article 5.3, SENETEK will take over the cost of obtaining and maintaining the patent
protection of the invention; provided that if such patent covers COMPOUNDS which SENETEK has elected not to license or claims fields of use for COMPOUNDS licensed to SENETEK that are beyond the fields of use SENETEK has elected to license,
the PARTIES shall share such cost according to the commercial potential of SENETEK’S COMPOUND and/or field of use and such COMPOUND(S) and/or fields of use not licensed to SENETEK. 

  

	5.3.8	The license fee paid by SENETEK for the grant to it of an exclusive license shall take into account the contribution made by SENETEK (both of cash and intellectual property) to the
jointly developed invention. 

  

	5.4	PATENT APPLICATION PCT/CZ03/00078 

  

	5.4.1	PATENT APPLICATION PCT/CZ03/00078 is filed in USA, Singapore, South Africa and as European patent (all countries of European patent including extension states and Hongkong). SENETEK
will contribute towards national entry costs sum of ***. COUNSEL will provide to PARTIES estimates of expected costs, annually. PARTIES will cover granting fees and patent maintenance fees of the national patents resulting from PCT/CZ003/00078
jointly. PARTIES will commercialize this PATENT APPLICATION PCT/CZ003/00078 jointly. Shares of the PARTIES are to be agreed. 

  

	5.5	PATENT APPLICATION PCT/US2007/073142, will be filed in China, Japan, South Korea, Taiwan, Vietnam, India, Australia, USA, Canada, Mexico, Brazil, Egypt, Saudi Arabia, and South
Africa, as a European patent (including Hong Kong), in Israel, New Zealand, Norway, Philippines, Euro-Asian Patent and Singapore, SENETEK will cover patent expenses. After European Patent is granted, INSTITUTE will pay expenses in Czech Republic,
Slovak Republic and extension states as they will be at the time. 

  

	5.5.1	Appointed Intellectual Property Counsel for PATENT APPLICATION PCT/US2007/073142 is office KRATZ, Rudy; Fitch, Even, Tabin & Flannery, 120 South LaSalle Street, Suite 1600,
Chicago, Illinois, USA (COUNSEL KRATZ). 

  

	5.6	PATENT APPLICATION US 11/966,559, will be filed in China, Japan, South Korea, Taiwan, Vietnam, India, Australia, USA, Canada, Mexico, Brazil, Egypt, Saudi Arabia, and South Africa,
as a European patent (including Hong Kong), in Israel, New Zealand, Norway, Philippines, Euro-Asian Patent and Singapore, SENETEK will cover patent expenses. 

  

	5.6.1	Appointed Intellectual Property Counsel for PATENT APPLICATION US 11/966,559 is office KRATZ, Rudy; Fitch, Even, Tabin & Flannery, 120 South LaSalle Street, Suite 1600,
Chicago, Illinois, USA (COUNSEL KRATZ). 

  

	5.7	If a PARTY decides not to maintain patent protection of patents under Article 5.2, 5.3, 5.4, 5.5 and 5.6 in certain territory, it will promptly inform the other PARTY to enable it
to take over such protection. 

  

	 	The PARTIES may agree to terminate the patent protection in certain territory. In case these patents cover tetrahydropyranyl derivatives of cytokinin substituted in position N9,
these patents will be offered to research associate of INSTITUTE – ***. 

 *** Confidential treatment has been requested

  

 13 

 ARTICLE 6 – CONFIDENTIALITY 
  

	6.1	In consideration of the use of the COMPOUNDS by SENETEK and receipt by the INSTITUTE of periodic reports on results of TESTING, and in consideration of joint research performed by
PARTIES, each receiving PARTY agrees that during the term of this AGREEMENT, it will not, except to the extent authorized by disclosing PARTY in writing, use for any purpose other than those described herein, or publish, disclose or release to any
third party, any information regarding the R&D conducted on such COMPOUND for medical skin care applications and/or cosmetic skin care applications and/or information received or jointly developed. Institute will not, except to the extent
authorized by Senetek in writing, disclose to any third party or use for any purpose other than those described herein, any information regarding Senetek’s or its Affiliates’ or Sub-Licensees’ manufacturing, distribution, marketing or
other business strategies or activities, prospects, finances, customers or processes, all of which Institute acknowledges and agrees to be confidential and proprietary information of Senetek. 

  

	6.2	The above restraints on use, release, and/or disclosure shall not apply to information or effects and applications of COMPOUNDS which: 

  

	 	•	 	 at the time of delivery or disclosure are known to the receiving PARTY; 

  

	 	•	 	 at the time of delivery or disclosure or subsequent thereto are generally available to the public through no fault of the receiving PARTY;

  

	 	•	 	 subsequent to the time of delivery or disclosure are independently developed by an employee or agent of the receiving PARTY who does so without reference to or
knowledge of the disclosing PARTY’S information or the COMPOUNDS; 

  

	 	•	 	 subsequent to the time of delivery or disclosure become or are made available to the receiving PARTY by a third party having the lawful right to do so; or

  

	 	•	 	 are covered by Article 4.4 or subsequent to the time of such delivery or disclosure become subject of another agreement between the PARTIES hereto which permits
use, release and/or disclosure. 

 The PARTY seeking to assert any of the above exceptions shall have the burden of proof.

  

	6.3	The PARTIES shall maintain the obligation of confidentiality for five years after the expiration of this AGREEMENT. 

  

	6.4	Notwithstanding the foregoing, on the EFFECTIVE DATE the PARTIES shall issue a joint press release announcing the signing and general terms of this AGREEMENT in a form mutually
agreed between the PARTIES. 

 ARTICLE 7 – PUBLICATIONS 
 In the event a patent application is filed in accordance with ARTICLE 5 of this AGREEMENT, the publication of related results shall be delayed until this patent application is extended in other countries as determined
by the PARTIES in accordance with Article 5 during the priority period. 
  

 14 

 ARTICLE 8 – FORCE MAJEURE 
  

	8.1	Neither PARTY shall be liable for failure in performance hereunder if occasioned by any cause beyond the control of the PARTIES, such as for example fire, flood, strikes, inevitable
accidents, war, embargo, blockade, legal restrictions, governmental relations, etc. 

  

	8.2	The occurrence of the Force Majeure shall be notified to the other PARTY in writing within 10 working days and shall be verified by the respective chamber of commerce within further
10 working days at the latest. Each PARTY undertakes to do its utmost in order to re-establish conditions favorable for the performance of this AGREEMENT and shall inform the other PARTY about steps it has taken. The term of this AGREEMENT will be
extended by the period the Force Majeure had lasted. 

 ARTICLE 9 – TERM OF THE AGREEMENT 
  

	9.1	This AGREEMENT shall be become effective on the EFFECTIVE DATE and shall continue and remain in effect according to its terms without limitation of time until the expiration of the
last VALID CLAIM unless terminated in accordance with Article 9.2 or 9.3. 

  

	9.2	This AGREEMENT can be prematurely terminated by agreement of both PARTIES or may be prematurely terminated by a PARTY upon not less than six months’ prior written notice to the
other PARTY. 

  

	9.3	A PARTY shall have the right to terminate this AGREEMENT forthwith at any time by notice in writing to the other PARTY if the other PARTY commits a material breach of any of the
terms of this AGREEMENT and does not within 30 days of receipt of notice of the breach (if the same be capable of remedy) remedy such breach. 

  

	9.4	Termination of this AGREEMENT for any reason shall not bring to an end the confidentiality obligations of the PARTIES hereto; and/or the rights and obligations (if any) on each
PARTY under Articles 5, 6, 7, 10, and 11. 

 ARTICLE 10 – DISPUTES 
  

	10.1	In the event of any difference or dispute arising between the PARTIES hereto concerning the construction or performance of this AGREEMENT or its validity, the PARTIES shall first
consult together in good faith and attempt to settle the matter amicably. 

  

	10.2	Any disputes relating to the interpretation, construction, performance or validity of this AGREEMENT, which cannot be resolved under Article 10.1 above, shall be referred to a final
decision of a panel of three (3) arbitrators (the “Panel”), appointed under and acting in accordance with the Rules of the Arbitration Court of the International Chamber of Commerce in Paris. The seat of the Arbitration Court shall be
in Vienna. 

  

	10.3	 The PARTIES specifically agree that if they are unable in good faith to reach agreement as to any details of the license agreement or agreements referred to in
Article 3.5, they shall submit such disagreement to the Panel and request that the Panel determine such 

  

 15 

	 	 
disagreement in a manner consistent with ordinary course business practices as applied by reasonable business persons in the industry to which this AGREEMENT
relates. Such determination by the Panel shall be treated as a decision of the Panel for all purposes of this Article 10. 

  

	10.4	Both PARTIES agree that the decision of the Panel shall be final and binding and that they shall undertake to abide by and execute the award rendered by the arbitrators without
delay. The enforcement of such an award may be applied for at any court of competent jurisdiction. 

  

	10.5	The AGREEMENT as well as the mutual obligations arising under it shall be exclusively governed by the provisions of the substantive law of Austria. 

 ARTICLE 11 – GENERAL 
  

	11.1	This AGREEMENT constitutes the sole and entire understanding either oral or written on the subject matter of the AGREEMENT. No further agreement or understanding shall be binding
upon either PARTY hereto unless in writing signed by both PARTIES. This AGREEMENT shall not be assignable by any of the PARTIES hereto, without prior written consent of the other PARTY. 

  

	11.2	The payments properly due to the INSTITUTE under the AGREEMENT shall in no event be refundable to SENETEK. In the event of termination or expiration of this AGREEMENT SENETEK will
pay all and any sums due to INSTITUTE up to the date of expiration or termination. In the event that SENETEK shall be required to pay a tax on any payment to the INSTITUTE, it shall deduct the amount of said tax from the payment due to the INSTITUTE
and shall provide the INSTITUTE with a copy of the Certificate of the tax having been paid pursuant to an Agreement on Avoidance of Double Taxation or for other reasons. 

  

	11.3	The time periods provided for herein during which a PARTY is permitted or required to take any action shall be tolled and extended for such period of time, if any, as the other
PARTY is in breach of any term of this AGREEMENT. 

  

	11.4	In consideration of the INSTITUTE’s rights pursuant to this AGREEMENT and in particular of SENETEK’s disclosure of confidential information concerning compounds covered by
the SENETEK PATENTS, the INSTITUE, for itself and for any and all of its affiliated entities, hereby irrevocably acknowledges that the SENETEK PATENTS are owned by SENETEK and are in all respects valid and enforceable, relinquishes all rights to
dispute such ownership, validity and enforceability, and covenants not to assert, either affirmatively or defensively, that any of them is not so owned or is invalid or enforceable, in any court or other proceeding or before any patent office or
tribunal whatsoever. 

  

	11.5	 In consideration of the SENETEK’s rights pursuant to this AGREEMENT and in particular of INSTITUTE’s disclosure of confidential information concerning
COMPOUNDS covered by the PATENT APPLICATIONS and the INSTITUTE PATENTS, SENETEK, for itself and for any and all of its affiliated entities, hereby irrevocably acknowledges that the PATENT APPLICATIONS and the INSTITUTE 

  

 16 

	 	 
PATENTS are owned by INSTITUTE and are in all respects valid and enforceable, relinquishes all rights to dispute such ownership, validity and enforceability,
and covenants not to assert, either affirmatively or defensively, that any of them is not so owned or is invalid or enforceable, in any court or other proceeding or before any patent office or tribunal whatsoever. 

  

	11.6	SENETEK hereby confirms that it has the expertise necessary to make use of any licensed patents and to develop, make, have made, sell, use, and otherwise commercially exploit the
PRODUCTS. 

 IN WITNESS WHEREOF, the PARTIES hereto have caused this AGREEMENT to be executed by their duly authorized representatives
in a manner legally binding upon them. 
  

 17 

 ANNEX 1 
 LICENSE AGREEMENT TERM SHEET 
  

			
	Term of License:	  	The term of the Valid Claims of the licensed patent(s).
		
	Licensed Territory:	  	World-wide.
		
	Scope of License:	  	Exclusive, for all applications.
		
	Consideration:	  	Royalty of *** of Senetek’s or its Affiliates’ Net Sales of licensed Products other than kinetin- or zeatin- based products, and
		
		  	Royalty of *** of Senetek’s SUB-LICENSEE’S Net Sales of sub-licensed Products other than kinetin- or zeatin- based products,
		
		  	provided that such royalty shall be appropriately reduced for products as to which Senetek’s intellectual property represents a principal basis of the patented
invention.
		
	Minimum Net Sales or Royalty:	  	An amount, beginning in the second full year after product launch, equal to *** of the royalty that would have been due on the preceding year’s Net Sales and Net Royalty; Senetek shall
be entitled to cure non-achievement of minimum royalty by lump sum payment of the short-fall.
		
	Sub-licensing/Assignment:	  	No limitation
		
	Senetek Covenants:	  	Validity and enforceability of License
		  	Compliance with law in performing License
		
	Institute Covenants:	  	Validity and enforceability of License
		  	Maintenance and defense of licensed patents
		
	Indemnification:	  	By Senetek for liability from any non-compliance with law in manufacture, marketing or sale of licensed products.
		
		  	By the Institute for invalidity or unenforceability of licensed patents up to the value of payments received from SENETEK in preceding calendar year.
		
	Termination:	  	By either Party for material breach by the other Party or insolvency or liquidation of the other Party.
		
	Confidentiality:	  	Per basic AGREEMENT
		  	Agreed press release upon signing
		
	Applicable Law:	  	Per basic AGREEMENT.

 *** Confidential treatment has been requested 
  

 18 

 ANNEX 2 
 COMMERCIAL TERMS GOVERNING LICENSE 
 1. SENETEK will inform INSTITUTE in writing of the dates of each FIRST
COMMERCIAL SALE, within 2 (two) months of occurrence of such FIRST COMMERCIAL SALE. 
 2. Where PRODUCT is sold in a currency other then US Dollars, the rate
of exchange to be used for converting such currency into US Dollars shall be the exchange rate, as published in the Financial Times, at the end of the relevant accounting period. From the second year after FIRST COMMERCIAL SALE of each PRODUCT these
installments must reach at least the annual minimum. These installments will be payable on country by country basis. 
 3. The payments shall be made within
60 days of the end of calendar quarter, and shall be accompanied by a statement which shall show on a country by country basis for the previous quarter all monies due to the INSTITUTE. Sales reports shall be sent to the Financial Manager of the
Institute of Experimental Botany, ***. Said sales report shall include the sales figures used to calculate the royalties due to the INSTITUTE, as well as the quantities sold, the unit price of any quantity of the PRODUCTS both by SENETEK and its
AFFILIATES. 
 4. The payments shall be made by bank transfer to the account titled ***. 
 5. The royalty properly due to the INSTITUTE shall in no event be refundable to SENETEK. 
 6. In the event that SENETEK
shall be required to pay a tax on any payment to the INSTITUTE, it shall deduct the amount of said tax from the payment due to the INSTITUTE and shall provide the INSTITUTE with a copy of the Certificate of the tax having been paid pursuant to an
Agreement on Avoidance of Double Taxation or for other reasons. 
 8. SENETEK shall prepare accounts, which shall include all the elements necessary to
precisely calculate the NET SALES and NET ROYALTY within the framework of the AGREEMENT. If necessary these accounts shall be made available once a year with 30 days notice to the INSTITUTE or an accredited designee of the INSTITUTE during the term
of the AGREEMENT and for one year thereafter. These accounts shall be prepared annually within 90 (ninety) days of the closing date of September 30 of each year which represents the end of SENETEK’s fiscal year. 
 10. Any sums which remain unpaid within the periods set out hereunder shall be subject to interest of *** over above LIBOR as published in the Financial Times at the end
of the relevant accounting period, without prejudice to the INSTITUTE’s right to terminate the contract in accordance with Article 10 of the present AGREEMENT. 
 11. The INSTITUTE shall have the right once a year with 30 days notice to audit or have audited the sales accounts kept by SENETEK. Should there be an audit, an expert accountant shall be appointed by mutual agreement
of both PARTIES at the expense of the INSTITUTE, except that if the amount of installments shown by such audit to be due to the INSTITUTE exceed the amount actually paid by SENETEK by ***, then such expenses shall be paid by SENETEK and any back
payments shall be reimbursed with per the Agreement. 
 *** Confidential treatment has been requested 
  

 19 

 12. SENETEK agrees to make reasonable efforts to make, have made, sell and otherwise commercially exploit the PRODUCTS,
using similar efforts devoted to products of similar nature and similar markets. 
 13. SENETEK agrees to provide annual reports on the development and
exploitation of the PRODUCTS. 
 14. SENETEK and its AFFILIATES agree not to use the names the INSTITUTE, any trademark, distinctive sign or adaptations
thereof which belongs to the INSTITUTE or the names of INSTITUTE inventors or of any INSTITUTE agent, on packaging, labeling, advertising or promotional materials for the PRODUCTS without receiving prior written approval from the INSTITUTE and the
natural person concerned, as the case may be. 
 15. PRODUCTS shall be commercialized by SENETEK, its AFFILIATES and its LICENSEES under their own
trademarks. The INSTITUTE shall have no rights to such trademarks. All administrative authorizations obtained by SENETEK, its AFFILIATES or its LICENSEES for the purpose of manufacturing and/or commercializing the PRODUCTS shall be obtained for
them. The INSTITUTE shall claim no rights thereto. 
 16. SENETEK accepts the obligation to inform by writing the INSTITUTE of all administrative marketing
approvals that it obtains for the purpose of manufacturing and/or commercializing the PRODUCTS no later than 3 (three) months after obtaining such final authorizations. 
  

 20

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00159-of-00352.parquet"}]]