Document:

ex10-28

EXHIBIT 10.28

LEASE EXTENSION

[CAYMAN CHEMICAL LOGO]

      THIS LEASE EXTENSION is entered into this 20th day of December, 2000,
between MAXEY, LLC, a Michigan limited liability company, whose address is
1180 East Ellsworth, Ann Arbor, Michigan 48108 (“Landlord”), and ESPERION
THERAPEUTICS, INC., a Delaware corporation, whose address is 3621 South State
Street, 695 KMS Place, Ann Arbor, Michigan 48108 (“Tenant”).

WITNESSETH:

      WHEREAS, the parties hereto have entered into a certain lease dated
January 4, 1999 for the vivarium annex to the building owned by Landlord at
1180 East Ellsworth Road, Pittsfield Township, Washtenaw County, Michigan,
containing approximately 5,150 square feet of space (the “Lease”).

      NOW, THEREFORE, in consideration of the terms, conditions and covenants
hereinafter set forth to be paid, kept and performed by Landlord and Tenant, the
parties hereto agree as follows:

      Pursuant to Section 2, it is mutually agreed that the lease is hereby
extended for an additional one (1) year period (the first “Renewal Term”).
Tenant will pay to the Landlord rent at the rate of Fifteen thousand seven hundred
fifty ($15,750.00) dollars commencing on January 1, 2001 and continuing on the
first day of each and every month thereafter for the next succeeding twelve (12)
months.

      All other terms and conditions of the Lease remain in full force and
effect.

	 	 	 
	   Landlord***

		   Tenant***

	   MAXEY,
LLC 

		   ESPERION
THERAPEUTICS, INC.

 

	   By: /s/ Kirk M. Maxey   

Kirk M. Maxey, M.D.

Its President
		
   By: /s/ Roger S. Newton   

Roger S. Newton, Ph. D.

Its President

	 
	   Date: 12-20-00   
		
   Date:  12-20-00ex10-29

EXHIBIT 10.29

AMENDMENT TO

LICENSE AGREEMENT

      AMENDMENT TO LICENSE AGREEMENT dated as of October 23, 2000 (“Amendment”) by and between INEX
PHARMACEUTICALS CORP., a British Columbia corporation, having its principal place of business at 100-8900
Glenlyon Parkway, Burnaby, B.C., Canada V5J 5J8 (“INEX”) and ESPERION THERAPEUTICS, INC., a Delaware corporation,
having its principal place at business at 3621 S. State, 695 KMS Place, Ann Arbor, MI 48108, USA (“ESPERION”).

 

W I T N E S S E T H:

      WHEREAS, INEX and ESPERION have entered into a License Agreement dated as of March 16, 1999 (the
“Agreement”) which provides for the exclusive license by ESPERION from INEX of certain rights, technology and
know-how, and certain other matters as set forth therein.

      WHEREAS, ESPERION, INEX, University of British Columbia (“UBC”), Michael J. Hope (“HOPE”) and Wendi V.
Rodrigueza (“RODRIGUEZA”) are defendants in a lawsuit filed against them by Kevin J. Williams (“WILLIAMS”) and
Talaria Therapeutics, Inc., a Delaware corporation (“TALARIA”) (the “Lawsuit”).

      WHEREAS, ESPERION has filed a demand for arbitration with the American Arbitration Association regarding
certain disputes with INEX under the Agreement (the “Arbitration Demand”).

      WHEREAS, ESPERION has settled the Lawsuit with TALARIA and WILLIAMS, and has entered into an Agreement
and Plan of Merger and Reorganization dated as of September 21, 2000 (the “Merger Agreement”), by and among
ESPERION, Esperion Mergerco, Inc., a Delaware corporation and wholly-owned subsidiary of ESPERION (“MERGERCO”),
and TALARIA, providing for, among other things, the merger of MERGERCO with and into TALARIA whereupon TALARIA,
the surviving company in the merger, has become a wholly-owned subsidiary of ESPERION and has changed its name
ultimately to Esperion LUV Development, Inc. (“ELD”).

      WHEREAS, as a result of the acquisition of TALARIA by ESPERION, the resolution of the Lawsuit and the
agreement of ESPERION to withdraw the Arbitration Demand, INEX and ESPERION wish to amend the Agreement as
provided for in this Amendment.

      NOW, THEREFORE, in consideration of the premises and covenants set forth herein, and intending to be
legally bound hereby, the parties hereto agree as follows. Capitalized terms used in this Amendment and not
otherwise defined shall have the meanings assigned to them in the Agreement:

      1. Section 3.1. Milestone Payments. The schedule of milestone payments set forth in Section 3.1 of the
Agreement shall be amended to read in its entirety as follows:

       CONFIDENTIAL TREATMENT IS REQUESTED FOR THE PORTIONS OF THE AMENDMENT TO LICENSE AGREEMENT
THAT ARE MARKED WITH ASTERISKS. A COMPLETE COPY OF THIS AMENDMENT TO LICENSE AGREEMENT, INCLUDING THE REDACTED TERMS, HAS BEEN SEPARATELY
FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.

	 	 	 	 	 	 	 	 	 
			Milestone						Amount
			
						

	1.
		
Execution of this Agreement

			
			US$ 250,000

	
	
	
	

	2.
		
Upon the enrollment of the first patient
in a Phase II Clinical Trial

			
			US$ 100,000

	
	
	
	

	* * * *
	* *	
* * * * * *

			
			

	
	
	
	

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	* *	
* * * * * *
			
			

	
	
	
	

	* * * *
	* *	
* * * * * *
			
			

	
	
	
	

	
	
	
	

	
	
	
	

	
		

			Total
			US$6,550,000

									

      2. Section 4.1. Royalties. Section 4.1(a) of the Agreement shall be amended by adding the following new
sentence to the end of the second sentence in Section 4.1(a):

		
	 	For the purposes of computing the earned royalties payable by ESPERION to INEX pursuant to this
Section 4.1(a), the definition of “Licensed Patents” under Section 1.11 of the Agreement shall
include the Patents (as defined in the Merger Agreement) acquired from TALARIA pursuant to the
Merger Agreement (collectively, the “Talaria Patents”). The right of INEX to receive royalties
from ESPERION based on 1) Net Annual Sales of the Licensed Products and 2) Sublicensing
Royalties involving the Talaria Patents shall survive the termination of the Agreement pursuant
to Section 9.1 and/or 9.2 of the Agreement, but in no event later than March 4, 2014, unless
the Agreement is terminated at any time by ESPERION pursuant to Section 9.3 of the Agreement
for a breach or default by INEX of its obligations under the Agreement (which breach or default
is not remedied within the applicable cure period).

      3. Schedule A (Earned Royalties). Schedule A to the Agreement shall be deleted and replaced in its
entirety with a new Schedule A attached hereto and incorporated herein by reference thereto.

*****************************************

CONFIDENTIAL TREATMENT REQUESTED

*****************************************

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      4. Section 4.2. Creditability of Milestone Payments.

                  Section 4.2 of the Agreement shall be amended as follows: by adding a “(i)” after “4.2” and
before “Creditability of Milestone Payments”, and adding a new sub-paragraph 4.2 (ii) as follows:

		
	 	(ii) Creditability of Sublicensing Royalties Paid to
Talaria Stockholders; Ceiling. * * * * of each payment of sublicensing royalties paid by ESPERION to the Talaria
Stockholders (as defined in the Merger Agreement) from the sublicensing of Products (as defined
in the Merger Agreement) in North America pursuant to Section 5.4(b)(i)(B) of the Merger
Agreement shall be creditable towards the royalties owed to INEX by ESPERION based on
Sublicensing Royalties pursuant to Section 4.1(a) of the Agreement (herein referred to as the
“Sublicensing Credits”), subject to the Ceiling (defined below).Notwithstanding any provision of
this Agreement, in no event shall the sum of the following exceed US$7 million (the
“Ceiling”): (a) US$2.2 million (representing the aggregate reduction in total milestone
payments payable by ESPERION under Section 3.1 of this Agreement from US$8.75 million, as
previously provided in Section 3.1 upon execution of this Agreement, to US$6.55 million, as
provided in Section 3.1, as amended); (b) the aggregate reduction in the amount of royalties
paid by ESPERION to INEX based on Net Annual Sales in North America under Section 4.1(a) of
this Agreement, as amended, as compared with the amount of such royalties payable as previously
provided in Section 4.1(a) of this Agreement upon execution of this Agreement; and (c) the
aggregate Sublicensing Credits applied as a credit by ESPERION.

      5. Section 7.2. Prosecution and Maintenance of Licensed Patents. Sections 7.2(a) and 7.2(b) of the
Agreement shall apply to Braun only, and any reference to Hope/Rodrigueza shall be superseded and replaced with
the following Section 7.2.1 inserted immediately before Section 7.3:

		
	 	        7.2.1. Subject to Section 7.2.1(d) below:

		
	 	            (a) INEX and UBC each hereby grant complete control over the Hope/Rodrigueza
patent application prosecution to ESPERION and/or ELD, in order that ESPERION and/or ELD may
pursue any and all strategies they deem appropriate, in their sole discretion, for the
prosecution and maintenance of the Licensed Patents and Know-How in the aggregate; subject to
the following provisions:

		
	 	            (i) ESPERION and/or ELD shall use their reasonable commercial efforts to
diligently prosecute and maintain the Licensed Patents;
	 
	 	            (ii) ESPERION and/or ELD shall, except to the extent protected by
attorney-client privilege between ESPERION and/or ELD and their

 
	
	* * * * * * * * * * * * * * * * * * * * * * * * * * * * * 
	CONFIDENTIAL TREATMENT REQUESTED
	* * * * * * * * * * * * * * * * * * * * * * * * * * * * * 

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	 	respective attorneys, provide
INEX and, in the case of Hope/Rodrigueza, also to UBC, with copies of all substantive proposed
correspondence relating to the scope or rejection of the claims in advance of filing with the
U.S. Patent and Trademark Office for prompt review and comment; provided, however, that in no
event shall ESPERION and/or ELD be obligated to abide by such comments from either INEX or UBC.

		
	 	            (iii) For a term commencing with the effective date of this Amendment and
ending on March 4, 2014, or earlier if the parties otherwise agree, ESPERION and/or ELD agree
to maintain a patent application pending in the U.S. Patent and Trademark Office, which
application contains the complete disclosure of the Hope/Rodrigueza application, and maintains
continuity of its disclosure (the “Application”). INEX and UBC hereby agree that ESPERION
and/or ELD have the right to abandon patent application Serial Nos. 09/175,553 and/or
09/322,336 in favor of such Application.

		
	 	      (b) The rights granted to ESPERION and/or ELD in Section 7.2.1(a) above include,
but are not limited to, the right to alter the scope of any patent coverage and take any other
actions with regard to the Licensed Patents and Know-How without the consent of INEX or UBC or
any other party. Such rights also include the right to conform the patent applications and
patents with respect to such Licensed Patents and Know-How to the outcome of an aggregate
patent portfolio assessment and strategy determination to be made by ESPERION at its sole
discretion.

		
	 	      (c) INEX agrees to cooperate fully with ESPERION and ELD in furnishing all
information and performing all actions requested by ESPERION or ELD, which are necessary or
helpful to the consummation of transactions contemplated by this Section 7.2.1 or desirable for
the corporate purposes of ESPERION or ELD in connection with the Licensed Patents and Know-How,
including, without limitation, providing copies of all documents and other information relating
to the Licensed Patents and Know-How and the prosecution thereof to ESPERION’s authorized
employees, attorneys, agents or representatives, and executing all legal documents reasonably
necessary or requested by ESPERION in connection therewith. In addition, INEX agrees to execute
all documents and take all actions necessary to delay the Hope/Rodrigueza patent from issuing,
pending assessment of the aggregate patent portfolio and determination of the patent strategy
by ESPERION which assessment and determination shall be at the sole discretion of ESPERION.
INEX shall be solely responsible for reimbursing UBC for expenses incurred by UBC in connection
with prosecuting and maintaining the Hope/Rodrigueza patent.

		
	 	      (d) The actions taken and rights granted to ESPERION and/or ELD under this Section
7.2.1 shall not in any manner adversely affect, reduce or diminish INEX’s rights to receive
royalties with respect to Licensed Products, as such rights were in effect under the Agreement
prior to the effective date of this Amendment.

4

      6. Extinguishment of “Williams Claim” Indemnification. Sections 7.6.1, 7.6.1.1. and 7.6.2 of the Agreement
shall be deleted in their entirety. Section 10.2(c) of the Agreement is amended to delete the comma and insert a
period after the word “hereunder” in the tenth line of the first sentence thereof and to delete the remainder of
such sentence.

      7. Attorneys Fees and Litigation Costs. INEX and ESPERION hereby agree that each party shall pay its own
attorneys’ fees and other costs relating to the Lawsuit and there shall be no indemnification obligation of
ESPERION under Section 10.1 of the Agreement or of INEX under Section 10.2 of the Agreement with respect to any
such fees or costs incurred by INEX or ESPERION or any other Indemnitee in connection with the Lawsuit or the
Arbitration Demand or the subject matter thereof.

      8. Representations. Each party hereto represents and warrants that: (a) such party has all requisite
power and authority to enter into this Amendment; (b) the individual signing this Amendment on such party’s
behalf has full authority to do so; (c) no consent of any person and no approval or authorization of, or
declaration or filing with, any governmental or regulatory authority is required for the valid authorization,
execution and delivery by such party of this Amendment or the performance by such party of its obligations under
this Amendment; and (d) this Agreement is valid and binding upon such party, enforceable against such party in
accordance with its terms.

      9. The parties agree as follows:

                  (a) This Amendment shall be governed and construed in accordance with the laws of the
State of Michigan without regard to its conflict of laws principles.

                  (b) This Amendment and all the provisions hereof shall be binding upon and inure to the
benefit of the parties hereto and their respective successors, transferees and assigns.

                  (c) This Amendment, together with the Agreement as amended hereby, contains the entire
agreement among the parties with respect to the subject matter hereof and supersedes all prior arrangements and
understandings, whether oral or written, with respect to the matters addressed herein.

      10. The parties acknowledge and agree that all of the terms, provisions, covenants and conditions
of the Agreement shall hereafter continue in full force and effect in accordance with the terms thereof, except
to the extent amended, modified, deleted or revised herein.

5

      IN WITNESS WHEREOF, the parties have caused this Amendment to be executed as of the date first written
above.

	 
	   INEX PHARMACEUTICALS CORP

	 
	   By: /s/ David Main

Name:

Title:

	 
	   ESPERION THERAPEUTICS, INC

	 
	   By: /s/ Roger S. Newton

Name: Roger S. Newton

Title: President & CEO

	 
	   ESPERION LUV DEVELOPMENT, INC.

formerly known as TALARIA THERAPEUTICS, INC

	 
	   By: /s/ Roger S. Newton

Name: Roger S. Newton

Title: President

      The undersigned hereby (i) acknowledge and agree to the foregoing Amendment as of the date thereof and
(ii) agree to cooperate fully with ESPERION and ELD as provided in Paragraph number 5 of the Amendment
(addressing Section 7.2.1(c) of the Agreement) as if named therein in the place and stead of INEX.

	 
	   UNIVERSITY OF BRITISH COLUMBIA

	 
	   By:/s/
Angus Livingstone

Name: Angus Livingstone

Title: Managing Director, UILO

	 
	   
/s/ Michael J. Hope

Michael J. Hope

6

	 
	/s/ Wendi V. Rodrigueza

Wendi V. Rodrigueza

The undersigned hereby agree that the Licence Agreement dated effective July 1, 1998 between each of the
undersigned is hereby amended to conform fully with the intent of the foregoing Amendment.

	 
	UNIVERSITY OF BRITISH COLUMBIA

	 
	By: /s/ Angus Livingstone

Name: Angus Livingstone

Title: Managing Director, UILO
	 
	INEX PHARMACEUTICALS CORP

	 
	By: /s/ David Main

Name:

Title:

7

  SCHEDULE A

  EARNED ROYALTIES

*    *    *    *    *    *    *

 
*    *    *    *    *    *    *

  	 
	
           SCHEDULE
          A

          Acknowledgment and Acceptance

      
	 
	

   INEX      /s/
DM                   Nov. 21, 2000     

                                     Initials            
              Date

      
	 
	
        

   ESPERION    /s/
RSN
                  11-28-00     

                                     Initials            
                Date

      

*    *    *    *    *    *    *

CONFIDENTIAL TREATMENT REQUESTED

 *    *    *    *    *    *    *

 

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