Document:

2006 Director Equity Compensation Policy

 Exhibit 10.21 
 NOVACEA, INC. 
 Amended and Restated Independent Director Cash Compensation Policy 

				
	Cash Compensation and Fees	  		
		
	 Annual Retainer: Chairman of Board of Directors
	  	$	72,000
		
	 Annual Retainer: Member of Board of Directors
	  	$	15,000
		
	 Annual Retainer
	  		
	Audit Committee Chair	  	$	15,000
	Compensation Committee Chair	  	$	10,000
	Nom/Corporate Governance Committee Chair	  	$	10,000
		
	 Board Meeting Fees
 (Chairman of the Board of
Directors)
	  		
	Board meetings in person	  	$	2,000
	Board meetings by video/telephone conference	  	$	1,000
		
	 Board Meeting Fees
 (Members of the Board of
Directors)
	  		
	Board meetings in person	  	$	2,000
	Board meetings by video/telephone conference	  	$	1,000
		
	Audit Committee Meeting Fees*	  		
	Committee meetings in person	  	$	2,000
	Committee meetings by video/telephone conference	  	$	1,000
		
	 Compensation and Nominating/Corporate
 Governance Committee Meeting Fees*
	  		
	Committee meetings in person	  	$	1,500
	Committee meetings by video/telephone conference	  	$	750

 * Committee Chair is responsible for annual committee meeting budget and advising CFO when meetings that warrant
fees have been held. 
  

 NOVACEA, INC. 
 Amended and Restated Independent Director Equity Compensation Policy 
 1. General. This
Amended and Restated Independent Director Equity Compensation Policy (the “Policy”) is hereby adopted by the Compensation Committee (the “Committee”) of Novacea, Inc., a Delaware corporation (the
“Company”), in accordance with Section 10.1 of the Novacea, Inc. 2006 Incentive Award Plan (the “Equity Plan”). Capitalized but undefined terms used herein shall have the meanings provided for in the Equity
Plan. 
 2. Committee Authority. Pursuant to Section 10.1 of the Equity Plan, this Committee hereby establishes a policy for the
grant of awards under the Equity Plan to Independent Directors (as defined therein), which policy is to include a written, non-discretionary formula, the types of awards to be granted to Independent Directors and the number of shares of the
Company’s common stock, par value $0.001 per share (the “Common Stock”), subject to such awards, and also specify, with respect to any such awards, the conditions on which such awards shall be granted, become exercisable and/or
payable, and expire, and such other terms and conditions as this Committee determines in its discretion. Equity awards granted under the authority of the Equity Plan pursuant to the provisions of this Policy are hereinafter referred to as
“Awards.” 
 3. Stock Options to Directors. During the term of the Equity Plan, a person who first becomes an
Independent Director automatically shall be granted an Option to purchase 50,000 shares of Common Stock (an “Initial Option”). During the term of the Equity Plan, an Independent Director who becomes Chairman of the Board of
Directors shall automatically be granted an Option to purchase 50,000 shares of Common Stock (an “Initial Chairman Option”). For the avoidance of doubt, a person who first becomes an Independent Director and, at the same time,
becomes Chairman of the Board of Directors shall automatically be granted both an Initial Option and an Initial Chairman Option. 
 During
the term of the Equity Plan, commencing on the date of the Company’s annual meeting of stockholders held in 2007, Independent Directors automatically shall be granted an Option to purchase 12,500 shares of Common Stock effective as of the date
immediately following each annual meeting of stockholders (an “Annual Option”), provided that the Independent Director continues to serve as a member of the Board as of such date. For the avoidance of doubt, an Independent Director
elected for the first time to the Board at an annual meeting of stockholders shall only be granted an Initial Option in connection with such election, and shall not be granted an Annual Option on the date following such meeting as well. During the
term of the Equity Plan, commencing on the date of the Company’s annual meeting of stockholders held in 2007, the Independent Director holding the position of Chairman of the Board of Directors shall automatically be granted an Option to
purchase 25,000 shares of Common Stock, in lieu of the Annual Option, effective as of the date immediately following each annual meeting of stockholders (an “Annual Chairman Option”), provided that the Independent Director continues
to serve as Chairman of the Board as of such date. For the avoidance of doubt, an Independent Director who becomes Chairman of the Board of Directors for the first time at an annual meeting of stockholders shall only be granted an Initial Chairman
Option in connection with such appointment, and shall not be granted an Annual Chairman Option on the date following such meeting as well. 

 Members of the Board who are employees of the Company who subsequently retire from the Company and remain
on the Board will not be granted an Initial Option or an Initial Chairman Option but to the extent they are otherwise eligible, will be granted, at each annual meeting of stockholders after his or her retirement from employment with the Company, an
Annual Option grant or an Annual Chairman Option grant. 
  

	 	(a)	Option Type; Exercise Price. Options granted to Independent Directors shall be Non-Qualified Stock Options. The exercise price per share of Common Stock subject to each
Option granted to an Independent Director shall equal 100% of the Fair Market Value of a share of Common Stock on the date the Option is granted. 

  

	 	(b)	Vesting; Term; Termination of Service. An Initial Option or Initial Chairman Option shall become vested and exercisable in substantially equal monthly installments over the
four-year period commencing on the date of grant, or such other date as determined by the Board. An Annual Option or Annual Chairman Option shall become vested and exercisable in substantially equal monthly installments over the 12-month period
commencing on the date of grant. The term of each Option granted to an Independent Director pursuant to this Policy shall be 10 years from the date the Option is granted. Upon an Independent Director’s termination of membership on the Board for
any reason other than for cause or a Qualified Retirement, his or her Option granted pursuant to this Policy shall remain exercisable for 12 months following his or her termination of membership on the Board, and upon an Independent Director’s
termination of membership on the Board as a result of a Qualified Retirement, his or her Option granted pursuant to this Policy shall remain exercisable for 18 months following his or her termination of membership on the Board; provided, however,
that no Option shall be exercisable after the expiration of the term of the Option. Unless otherwise determined by the Board on or after the date of grant of such Option, no portion of an Option granted pursuant to this Policy which is unexercisable
at the time of an Independent Director’s termination of membership on the Board shall thereafter become exercisable. A “Qualified Retirement” shall mean that the Independent Director resigns or elects not to stand for
reelection to the board in connection with his or her retirement at any time after reaching the age of 62. 

 4. Automatic
Acceleration. Anything to the contrary in the foregoing notwithstanding, Awards granted under this Policy shall automatically vest in full and become exercisable: (a) immediately prior to a Change in Control; or (b) in the case of an
individual Independent Director participant, upon the Qualified Retirement of the director from service as a director of the Company. 
 5.
Treatment of Awards Granted Prior to Policy. Equity awards granted to an Independent Director prior to the effective date of this Policy pursuant to the terms of the Company’s 2001 Stock Option Plan (the “Prior Plan”) or
otherwise shall automatically vest in full and become exercisable immediately prior to a Change in Control, notwithstanding anything to the contrary provided in the terms and conditions set forth in the Prior Plan or in any 

 
agreement evidencing the grant of the equity awards. Except as provided in this Section 5, equity awards granted prior to the effective date of this
Policy shall otherwise continue to be subject to the provisions in effect as of the effective date of this Policy governing the terms and conditions of the awards that are set forth in the Prior Plan and/or in any agreement evidencing the grant of
the awards. 
 6. Incorporation of the Equity Plan. All applicable terms of the Equity Plan apply to this Policy as if fully set forth
herein except to the extent such other provisions are inconsistent with this Policy, and all grants of Awards hereby are subject in all respect to the terms of the Equity Plan. 
 7. Written Grant Agreement. The grant of any Award under this Policy shall be made solely by and subject to the terms set forth in a written
agreement in a form to be approved by the Committee and duly executed by an executive officer of the Company. 
 8. Policy Subject to
Amendment, Modification and Termination. This Policy may be amended, modified or terminated by the Committee in the future at its sole discretion. No Independent Director shall have any rights hereunder unless and until an Award is actually
granted. Without limiting the generality of the foregoing, the Committee hereby expressly reserves the authority to terminate this Policy during any plan year up and until the election of directors at a given annual meeting of stockholders.

 **********Third Amendment to Supply Agreement

 Exhibit 10.24 
 THIRD AMENDMENT TO SUPPLY AGREEMENT 
 THIS THIRD AMENDMENT TO SUPPLY AGREEMENT (the “Amendment”) is
dated as of February 28 2007, by and between Novacea, Inc., a Delaware corporation previously known as D-NOVO Therapeutics, Inc. (“Novacea”) and Plantex USA, Inc., a New Jersey corporation (“Plantex”). 
 WHEREAS: 
 Novacea and Plantex are parties to a certain Supply
Agreement dated December 27, 2001, as amended on January 24, 2006 and March 21, 2006 (the “Supply Agreement”); and 
 Novacea and
Plantex wish to amend the Supply Agreement as expressly set forth in this Amendment, leaving the Supply Agreement otherwise in full force and effect. 
 NOW, THEREFORE, Novacea and Plantex agree as follows: 
 1.     All instances of “D-NOVO Therapeutics,
Inc.” in the Supply Agreement are deleted and the following text is submitted in lieu thereof: “Novacea, Inc.” 
 2.    
All instances of “D-NOVO” in the Supply Agreement are deleted and the following text is submitted in lieu thereof: “Novacea.” 
 3.     Section 4 of the Supply Agreement is deleted in its entirety and the following text is submitted in lieu thereof: 
 “Novacea agrees at its sole cost and expense to use its best efforts to obtain Approval to market Finished Product in such countries in the Territory as shall be reasonably determined by Novacea, except that
Novacea shall use its best efforts to obtain FDA Approval to market Finished Product in the United States based upon a NDA or ANDA, as shall be determined by Novacea. In connection with such FDA Approval, Novacea shall at its sole cost and expense
conduct all tests and studies reasonably required to enable Novacea to apply for, obtain and maintain FDA Approval for Finished Product. In connection with the development of Finished Product and securing any Approvals, Novacea agrees, on behalf of
itself, its Affiliates and their respective licensees or contract manufacturing vendors, if any, to use only API obtained from PLANTEX (or its Affiliates) and purchase all their respective requirements of API from PLANTEX (or its Affiliates). Upon
the execution and delivery of this Agreement, PLANTEX shall provide and deliver to Novacea without charge two grams (2 gms.) of API. Thereafter, Novacea shall be charged [*] dollars ($[*]) per gram for Developmental Orders (as herein defined) of API
sold hereunder and such price shall not be subject to increase or decrease. Notwithstanding Section 6.2 hereinbelow, such payment shall be due and payable upon delivery to Novacea of any Developmental Order or portion thereof. As used herein,
“Developmental Orders” means orders placed prior to Approval by a Regulatory Authority and not in connection with commercial production in connection with commercial launch following any such Approval. After January 1, 2008, all
Developmental Orders shall be minimum noncancellable orders for quantities of not less than [*] grams ([*] gms.) each and currently 

  

	[*]	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 

 
forecast by Novacea at [*] grams for 2008, [*] grams for 2009 and [*] grams for 2010. For Developmental Orders on an annual basis after 2010, Novacea shall
notify Plantex of its minimum noncancellable quantities for the applicable year (not to be less than [*] grams each year) no later than September 30 of the preceding calendar year. Each of the Developmental Orders shall be deliverable over
periods not exceeding twelve (12) months, in partial shipments of not less than [*] grams each and not greater than [*] grams each; provided that PLANTEX shall use commercially reasonable efforts to deliver to Novacea or its designee quantities
set forth in a Developmental Order quarterly shipments of no less than [*] percent ([*]%) of the applicable Developmental Order. 
 4.     Section 5.2 of the Supply Agreement is deleted in its entirety and the following text is submitted in lieu thereof: 
 “Exception. During any period in which PLANTEX, for any reason, including, but not limited to, force majeure as provided for in Section 15, fails to supply, is unable to supply or anticipates
that it will not supply, the quantities of API to Novacea included within any Firm Purchase Order (as defined below) or any other purchase order confirmed in writing by PLANTEX, Novacea shall be free to fill such specific purchase order for API (or
any unfilled portion) from an alternative source. This shall be the sole remedy for Novacea in the event that PLANTEX advises that it is unable to supply API. PLANTEX shall notify Novacea promptly upon becoming aware of any facts or circumstances
which causes it to believe that it will be unable to meet shipment obligations hereunder. For clarity, for purposes of exercising Novacea’s rights under this Section 5.2, Novacea may enter into discussions with potential alternative
sources and conduct any and all activities necessary to validate and qualify an alternative source as a suitable alternative source supplier, at any time during the term of this Agreement, so that a qualified alternative source supplier will be
available for the manufacture of API as permitted by this Section 5.2.” 
 5.     Section 5.5 of the Supply Agreement as
amended is deleted in its entirety and the following text is submitted in lieu thereof: 
 “Commencing [*] months prior to the date on
which Novacea, in good faith, anticipates Approval, Novacea will provide Plantex with [*] month rolling forecasts of its requirements by calendar quarter for API. Thereafter, such rolling forecasts shall be delivered to Plantex on or before the
fifteenth (15th) day of each calendar quarter during the Term. The first calendar quarter of each [*] month rolling forecast shall be binding on Plantex and Novacea and shall constitute a firm purchase order (“Firm Purchase Order”)
for the API indicated for such calendar quarter. Plantex shall supply Novacea with (i) the quantities set forth on each such Firm Purchase Order and (ii) such additional amounts as Novacea may order in excess of its forecasted amounts for
such calendar quarter, provided that Plantex shall have confirmed and accepted such additional orders within thirty (30) days of Plantex’s receipt of Novacea’s written request for such additional amounts. Plantex agrees to use
commercially reasonable efforts to meet any such additional orders. In the event that Plantex determines for any reason (other than force majeure as provided for in Section 15, below) to discontinue the manufacture of API, Plantex shall have
the right to terminate its delivery obligations hereunder by giving to Novacea not less than [*] months prior written notice. The terms and conditions of this Agreement shall apply to all 

  

	[*]	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 

 
purchase orders hereunder and if any terms and conditions contained in such purchase orders shall conflict with any terms and conditions contained herein,
the terms of this Agreement shall control. No additional terms or conditions set forth in any such purchase order (other than the quantities and delivery dates set forth therein and conforming to the provisions of this Agreement) shall be binding
upon Plantex, unless agreed to in writing by Plantex. Any additional terms therein contained shall be deemed to be a proposed offer of amended terms that shall be deemed rejected by Plantex and of no force or effect, notwithstanding any action or
inaction by Plantex other than its express written approval of such additional terms. 
 6.     Section 14.2 of the Supply Agreement
as amended is deleted in its entirety and the following text is submitted in lieu thereof: 
 “Termination by PLANTEX. This
Agreement may be terminated by PLANTEX on the giving of thirty-six (36) months prior written notice in the event that either: (i) a phase 3 Clinical Trial of a Finished Product has not been initiated on or before December 31, 2006 (or
thereafter discontinued prior to successful completion), or (ii) FDA approval of Finished Product shall not have been obtained by Novacea, Inc. on or before December 31, 2011.” 
 7.     Except as expressly set forth in this Amendment, the Supply Agreement shall remain in full force and effect. 
 8.     This Amendment and the Supply Agreement, as amended by this Amendment, constitute the entire agreement and understanding between the parties
hereto and supersede all prior negotiations, representation or agreements, whether written or oral, relating to the subject matter hereof. 
 9.     The validity, performance and construction of this Amendment shall be governed by, and construed in accordance with the laws of the State of New Jersey, without regard to its choice of law or conflict of law
rules. 
  

	[*]	Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 

 10.   This Amendment may be executed in multiple counterparts, each of which shall be deemed an original but
all of which, taken together, shall constitute one and the same instrument. 
  

					
	PLANTEX USA, INC.	  		  	NOVACEA, INC. F/K/A D-NOVO THERAPEUTICS, INC.
			
	 /s/    George Svokos
	  	 	  	/s/    John P. Walker
	 By: George Svokos
 Its: President
	  		  	 By: John. P. Walker
 Its: Chairman and
Interim CEO

			
	 /s/    Allen Lefkowitz
	  		  	
	 By: Allen Lefkowitz
 Its: CFO

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