Document:

Exhibit 10.25

 

TRADEMARK LICENSE AGREEMENT

 

This Trademark License Agreement (“Agreement”) is made
this 21 st day of July 2004 (the “Effective Date”) by and between Elan
Pharmaceuticals, Inc., a Delaware corporation (hereinafter “Licensor”),
and Acorda Therapeutics, Inc., a Delaware corporation (hereinafter “Licensee”).

 

WHEREAS, Licensor is the owner of the Product
Trademarks;

 

WHEREAS, the Parties hereto desire that Licensee use
the Product Trademarks on the terms and conditions hereinafter set forth; and

 

WHEREAS, capitalized terms used and not defined herein
shall have the meanings assigned to those terms in the Asset Purchase Agreement
dated as of July 21, 2004 by and between Licensor and Licensee (the “Asset
Purchase Agreement”).

 

NOW, THEREFORE, in consideration of the promises and
covenants contained herein and for good and valuable consideration, the Parties
agree as follows:

 

1.                                       LICENSE:  The Licensor hereby grants to Licensee an
exclusive, royalty-free license, with the right to sublicense, to use the
Product Trademarks solely for the purposes of importing Products into the
Territory and using, modifying, exploiting, researching, distributing,
developing, marketing, selling, offering for sale and otherwise commercializing
Products in the Territory.  The license
granted herein shall not include a right to use the Corporate Names.

 

2.                                       USE OF
PRODUCT TRADEMARKS:  Licensee agrees
to use the Product Trademarks only in connection with the Products and in
compliance with reasonable quality standards and specifications.  Licensee agrees to correctly use the trademark
symbol TM or registration symbol ® in connection with the Product Trademarks.

 

3.                                       RIGHT TO
INSPECT:  Licensee shall submit to
Licensor upon request, no more than once per calendar year, one specimen sample
of the Products and of all materials bearing the Product Trademarks to enable
Licensor to determine whether the Product Trademarks are being used in
compliance with Section 2.

 

4.                                       OWNERSHIP: Licensee agrees that, as between the
parties hereto and their Affiliates, ownership of the Product Trademarks (and
any goodwill relating thereto) shall remain vested in Licensor during the
period of this Agreement, and Licensee further agrees not to challenge, contest
or question the validity of such ownership of the Product Trademarks at any
time during the Term of this Agreement.

 

5.                                       INDEMNIFICATION: Each of Licensor and Licensee hereby
acknowledges that it is aware of the indemnification provisions of Article XI
of the Asset Purchase Agreement and the applicability of such provisions
(subject to their terms) to the marketing and sale of the Products.

 

 

6.                                       TERM:  This Agreement shall remain in effect from the
Effective Date until the consummation of the Trademark Purchase (as defined in
the Asset Purchase Agreement).

 

7.                                       CHOICE OF LAW:
 This Agreement shall be governed by and
construed under the laws of the State of New York without regard to conflict of
law principles thereunder.

 

8.                                       WAIVER:  Any term or condition of this Agreement may be
waived at any time by the party that is entitled to the benefit thereof, but no
such waiver shall be effective unless set forth in a written instrument duly
executed by or on behalf of the party waiving such term or condition.  No waiver by any party hereto of any term or
condition of this Agreement, in any one or more instances, shall be deemed to
be or construed as a waiver of the same or any other term or condition of this
Agreement on any future occasion.  All
remedies, either under this Agreement or by law or otherwise afforded, will be
cumulative and not in the alternative.

 

9.                                       SEVERABILITY: If any provision of this Agreement is
held to be illegal, invalid or unenforceable under any present or future law,
and if the rights or obligations of any party hereto under this Agreement will
not be materially and adversely affected thereby, (i) such provision will
be fully severable, (ii) this Agreement will be construed and enforced as
if such illegal, invalid or unenforceable provision had never comprised a part
hereof, (iii) the remaining provisions of this Agreement will remain in
full force and effect and will not be affected by the illegal, invalid, or
unenforceable provision or by its severance herefrom, and (iv) in lieu of
such illegal, invalid or unenforceable provision, there will be added
automatically as a part of this Agreement a legal, valid and enforceable
provision as similar to the terms of such illegal, invalid or unenforceable
provision as may be possible and reasonably acceptable to the parties herein.

 

10.                                 COUNTERPARTS:  This Agreement may be executed by facsimile
and in two or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument.

 

11.                                 ENTIRE AGREEMENT: This Agreement (together with the
documents referred to herein) contains the entire agreement between the parties
with respect to the transactions contemplated hereby, and all prior or
contemporaneous agreements, understandings, representations and statements,
oral or written, are merged herein.

 

12.                                 INDEPENDENT
CONTRACTORS:  Licensor and Licensee
shall for all purposes be independent contractors, and this Agreement and/or
the performance of the obligations hereunder shall not create any relationship
in which one party or its employees, agents or representatives, are to be
employees, agents, partners, joint venturers or representatives of the other
party.  Consequently, neither party nor
its employees, agents and representatives has any power or right to bind the
other party, to settle any claim by or against such party, to give any warranty
or make any claim or representation on behalf of such party or to subject such
party to any obligation or liability, of any kind, unless expressly authorized
by such party in writing.

 

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13.                                 AMENDMENT:  This Agreement may be amended, supplemented or
modified only by a written instrument duly executed by each party hereto.

 

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IN WITNESS WHEREOF, the
parties hereto execute this Agreement by their duly authorized representative
on the date set forth above.

 

 

	
  ELAN
  PHARMACEUTICALS, INC.

  	
   

  	
  ACORDA
  THERAPEUTICS, INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  /s/ Jack Laflin

  	
   

  	
   

  	
  /s/ Ron Cohen

  	
   

  	
   

  
	
  Signature

  	
   

  	
   

  	
  Signature

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Jack Laflin

  	
   

  	
   

  	
  Ron Cohen

  	
   

  	
   

  
	
  Print Name

  	
   

  	
   

  	
  Print Name

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Executive Vice
  President, Global

  	
   

  	
   

  	
  President and
  CEO

  	
   

  	
   

  
	
  Position             Core
  Services

  	
   

  	
   

  	
  Position

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date

  	
   

  	
   

  	
  Date

  	
   

  	
   

  

 

4Exhibit
10.26

 

Certain portions of this Exhibit have been omitted
pursuant to a request for confidentiality. 
Such omitted portions, which are marked with brackets [   ] and an asterisk*, have been separately
filed with the Commission.   

 

 

AGREEMENT RELATING TO ADDITIONAL TRADEMARK

This Agreement Relating to Additional Trademark (this “Agreement”) is
made as of July ___, 2005 (the “Effective Date”) by and between Elan
Pharmaceuticals, Inc. (“EPI”) and Acorda Therapeutics, Inc. (“Acorda”).  Capitalized terms not otherwise defined herein
shall have the meanings ascribed to them in that certain Asset Purchase
Agreement by and between EPI and Acorda dated as of July 21, 2004 (the “Asset
Purchase Agreement”).

 

RECITALS

 

        A.        Acorda desires to utilize the trademark “Zanaflex Capsules”
(the “Mark”) in connection with Zanaflex Capsules; and

        B.         The parties desire set forth rights and obligations relating
to the Mark as set forth herein.

                NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth herein and for
good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereby agree as follows:

 

1.             Rights to Mark.  The parties hereby agree that, subject to the
rights granted to Acorda by making and deeming the Mark a “Product Trademark”
under the Asset Purchase Agreement and Trademark License Agreement as set forth
in the following paragraph, all right, title and interest in and to the Mark
and all goodwill associated therewith shall be owned exclusively by EPI, and
each party will execute and deliver any and all instruments and documents and
perform any and all acts necessary to vest such right, title and interest in
EPI.

The Mark shall be and shall be deemed to be a Product
Trademark for all purposes under the Asset Purchase Agreement, the Elan
Disclosure Schedule and the Trademark License Agreement, and shall be subject
to all of the rights and obligations of the parties relating to the Product
Trademarks contained in such documents; provided that, notwithstanding the
foregoing or anything to the contrary contained in such documents, none of the
representations and warranties of EPI contained in Article VI of the Asset
Purchase Agreement shall apply to the Mark.

Acorda hereby represents and warrants to EPI that any
use by Acorda of the Mark will comply with all applicable Laws.  Acorda agrees that for purposes of its
indemnification obligations relating to Assumed Liabilities contained within
Section 11.02(b)(iv) of the Asset Purchase Agreement, the use by Acorda or its
Affiliates of the Mark in connection with the Products shall be deemed to be
included within the operation of the Business by Acorda or its Affiliates after
the Closing.

2.             Registration of Mark. As soon as is practicable
after the Effective Date, EPI shall use commercially reasonable efforts to
apply for and to obtain registration of the Mark in its name with the United
States Patent and Trademark Office (the “PTO”), using trademark 

 

 

Certain portions of this Exhibit have been omitted
pursuant to a request for confidentiality. 
Such omitted portions, which are marked with brackets [   ] and an asterisk*, have been separately
filed with the Commission.   

 

 

counsel engaged by EPI.  Acorda will reimburse EPI for the fees of such
counsel (including but not limited to fees incurred in performing customary
searches for conflicting trademarks), filing fees and other fees incident to
such application and registration activities; provided that in no event shall
such fees to be reimbursed by Acorda in the aggregate exceed [***] (the “Cap”).
Acorda hereby represents and warrants to EPI that it knows of no trademarks
currently in use anywhere in the world that would conflict with EPI’s ownership
or goodwill in the Mark, or that would reasonably be expected to adversely
affect EPI’s ability to obtain registration of the Mark with the PTO.  EPI shall notify Acorda within two (2)
business days upon registration or rejection of the Mark by the PTO.

3.             Conflicts.  Except as amended by this Agreement, each of
the Asset Purchase Agreement, the Elan Disclosure Schedule and the Trademark
License Agreement shall continue in full force and effect.  In the event of any conflict between the terms
of the Agreement and the terms of any of the Asset Purchase Agreement, the Elan
Disclosure Schedule and the Trademark License Agreement, the terms of this
Agreement shall govern and control.

4.             Further Assurances.  The parties agree to execute such further
instruments, agreements and documents and to take such further actions as may
reasonably be necessary to carry out the intent of this Agreement.

5.             Counterparts.  This Agreement may be executed in any number
of counterparts, each which shall be deemed an original, and all of which
together shall constitute one instrument.

6.             Severability.  If one or more provisions of this Agreement
are held to be unenforceable under applicable law, such provision(s) shall be
excluded from this Agreement, and the balance of this Amendment shall be
interpreted as if such provision(s) were so excluded.

7.             Entire Agreement.  This Agreement, together with the documents
referenced herein, constitute the full and entire understanding and agreement
among the parties with regard to the subjects hereof and thereof.

8.             Governing Law.  This Agreement shall be governed by and
construed under the laws of the State of New York, without giving effect to
conflict of law principles.

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IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.

 

	
   

  	
  ELAN PHARMACEUTICALS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Joe Boudreau

  
	
   

  	
  Name:

  	
  Joe Boudreau

  
	
   

  	
  Title:

  	
  SVP

  
	
   

  	
   

  	
   

  
	
   

  	
  ACORDA THERAPEUTICS, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/Ron Cohen

  
	
   

  	
  Name:

  	
  Ron Cohen

  
	
   

  	
  Title:

  	
  President & CEO

  

 

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