Document:

Exhibit 10.28  

         

  

        October 6,
2006 

Patrick
L. Jones, PhD

Office of Technology Transfer

The University of Arizona

Main Gate 515

888 N. Euclid Avenue

Tucson, Arizona 85721-0158 

	Re:	 	Proposed Acquisition of ProlX Pharmaceuticals Corporation ("ProlX") by Biomira Inc. ("Biomira")

Dear
Dr. Jones: 

        ProlX
and Biomira have entered into negotiations for the acquisition of ProlX by Biomira. As part of the contemplated transaction, Biomira will assume the following License Agreements: 

        1.     Exclusive
License Agreement by and between the University of Arizona and ProlX dated June 3, 1999 (the "1999
Agreement"); 

        2.     Exclusive
License Agreement by and among Georgetown University, University of Arizona and ProlX dated as of July 5, 2001 (the "2001
Agreement"); 

        3.     Exclusive
License Agreement between University of Arizona and ProlX dated as of July 29, 2004 (the "2004
Agreement"), with the University of Arizona as Licensor acting on its own behalf and on behalf of the University of Pittsburgh as set forth in the 2004 Agreement; and 

        4.     Exclusive
License Agreement between University of Arizona and ProlX dated as of September 15, 2005 (the "2005
Agreement"). 

        Collectively,
the 1999 Agreement, the 2001 Agreement, the 2004 Agreement and the 2005 Agreement shall be referred to hereunder as the "License
Agreements" and Georgetown University, the University of Pittsburgh and University of Arizona shall be referred to hereunder as the
"Universities." 

        Upon
the effective date of the contemplated transaction, (the "Effective Date"), Biomira will acquire ProlX through the statutory merger
(the "Merger") of a wholly owned subsidiary of Biomira ("Merger Sub") with and into ProlX and, as part
of the same overall transaction, the merger of the surviving entity of such merger with and into another wholly owned subsidiary of Biomira ("Newco"),
all upon the terms and conditions set forth in that certain merger agreement (the "Merger Agreement") among Biomira, Merger Sub, ProlX and certain
stockholders of ProlX. 

        In
connection with the Merger, ProlX seeks (i) acknowledgement that there has been no default by ProlX, and that there is no anticipated default, under any of the License
Agreements, and (ii) clarification or modification with respect to the following provisions of the License Agreements as they will apply to Biomira upon completion of the Merger. 

[+]
DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED FOR CONFIDENTIALITY PURPOSES 

1

 

 1999 Agreement  

        With respect to Section 7.3, ProlX seeks clarification that ProlX is not in default under any of the diligence provisions set forth therein, or if there
has been a default, that the University of Arizona waives its right to terminate the 1999 Agreement with respect to any such default. 

        With
respect to Sections 7.3.2(b) and 7.3.3(a) and (b), ProlX seeks to amend the provision to read in its entirety: 

        [+] 

        Sections
7.3.2(b) and 7.3.3(b) shall be deleted. 

 2005 Agreement and 2004 Agreement  

        With respect to Section 13.1 of the 2005 Agreement and Section 13.1 of the 2004 Agreement, ProlX seeks to clarify that the amount of the assignment
transfer fee under the 2004 Agreement is [+] and the assignment transfer fee under the 2005 Agreement is [+] (together, the
"Assignment Fees") and that such Assignment Fees are payable no later than 15 days after the Effective Date. 

        Please
indicate (i) the Universities' acknowledgement that there has been no default by ProlX, and that there is no anticipated default, under the License Agreements,
(ii) the University of Arizona's waiver of the requirements of Section 7.3 of the 1999 Agreement, (iii) the University of Arizona's agreement to modify Section 7.3.3 of the
1999 Agreement and (iv) the University of Arizona's confirmation of the Assignment Fees and the date on which they are due, by signing in the space indicated below. 

        Please
note that the proposed Merger and the information set forth in this letter are confidential information of ProlX and subject to the confidentiality provisions of the License
Agreements. 

        Please
call me at 713-864-7512 if you have any questions. We appreciate your cooperation. 

	

 	
 	

Sincerely,
	

 	
 	
Dr. Lynn Kirkpatrick
 Dr. Lynn Kirkpatrick

Chief Executive Officer

[+]
DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED FOR CONFIDENTIALITY PURPOSES 

2

 

On
behalf of the University of Arizona and the University of Pittsburgh, I consent to the terms set forth above and represent and warrant that I am authorized to give such consent on behalf of the
University of Arizona and the University of Pittsburgh: 

	

UNIVERSITY OF ARIZONA
	

By:	
 	
Patrick L. Jones, Ph.D., MBA

	

Name:	
 	

Patrick L. Jones, Ph.D., MBA

	

Title:	
 	

Director, Office of Technology Transfer

	

Date:	
 	

24 Oct 2006

[+]
DESIGNATES PORTIONS OF THIS DOCUMENT THAT HAVE BEEN OMITTED FOR CONFIDENTIALITY PURPOSES 

3Exhibit 10.29  

  

PERSONAL & CONFIDENTIAL

WITHOUT PREJUDICE

DELIVERED BY E-MAIL  

October 30, 2006 

Lynn
Kirkpatrick 

Houston,
Texas 

Dear
Lynn: 

        I
am pleased to offer you the position of Chief Scientific Officer at Biomira Inc. Your base of operations will be either Tucson, Arizona or Houston, Texas. This offer of
employment is contingent upon and effective as of the successful closing of the Acquisition of ProIX Pharmaceuticals Corporation ("ProIX") by Biomira Inc. ("Biomira" or the "Company") (the date
of such closing the "Effective Date"). 

        The
following confirms our offer: 

	1.
	Salary: Your salary will be US$ 250,000 per annum and will be reviewed annually. Salaries are paid twice a month, by direct deposit, on
the 15th and the second last banking day of each month.

	2.
	Stock Options: You are eligible to participate in the Biomira's non-qualified Stock Option Plan. The plan is governed by the
"Biomira Inc. Amended and Restated Share Option Plan" (the "Option Plan") and the terms of this document will govern. A total of 75,000 optioned shares of the Company will be granted at the
first Board of Directors meeting following your acceptance of this offer. 

The
options will vest in accordance with the schedule set forth in the Company's standard stock option agreement which is 1/4per year over 4 years, and will expire 8 years
after issue. 

In
the event (a) of a "change of control" as defined in "Exhibit A" of the Option Plan, (b) the Company terminates you without Cause (as defined below), or (c) you resign from the
Company for Good Reason (as defined below), (each of a, b and c a "Triggering Event") the following will apply with respect to options: 

	•
	If
a Triggering Event happens prior to October 30, 2007, any unvested options up to 1/2 of the initial grant will vest immediately;

	•
	If
a Triggering Event happens after October 30, 2007, any unvested options will vest immediately.

	3.
	Variable Pay: You will be eligible for variable pay at the 40% (forty percent) Target level. The Variable Pay plan is governed by the
"Biomira Inc. (Canada) Employee Incentive Program" (the "Bonus Program") document and the terms of this document will govern. Goals for the plan are established at the beginning of the year,
and payment is made following the close of the year in accordance with the terms of the Bonus Program.

	4.
	Severance: In the event your employment is terminated for reasons other than "Cause" (as defined below) within 2 (two) years of the
Effective Date, severance will apply. 

 

Severance
will consist of a lump sum payment of equivalent to 2 (two) years of base pay less any base pay paid to the termination date, less required withholding, and will be paid to you upon your
execution of a release, in a form reasonably acceptable to the Company. 

"Cause"
for the purpose of this agreement shall mean (i) willful engaging in illegal conduct or gross misconduct which is injurious to the Company or an affiliated company, (ii) being
convicted of, or entering a plea of nolo contendere or guilty to, a felony or a crime of moral turpitude; (iii) engaging in fraud,
misappropriation, embezzlement or any other act or acts of dishonesty resulting or intended to result directly or indirectly in a material gain or personal enrichment to you at the expense of the
Company or an affiliated company, (iv) material breach of any written policies of the Company or an affiliated company, or (v) willful and continual failure substantially to perform your
duties with the Company, which failure has continued for a period of at least 30 days after written notice by the Company. 

	5.
	Non-Compete: If you choose to leave the Company's service without Good Reason or you are terminated for "Cause", you will
not, without first having obtained the prior written consent of the Company, either solely or in partnership, or jointly in conjunction with any person or persons, firm, association, syndicate or
corporation, whether as principal, agent, shareholder, employee or in any manner whatsoever, carry on, be engaged in, employed, concerned with or interested in any business, employment, activity,
operation or position whatsoever similar to the present position occupied by you, or at any time carried on by the Company during your employment with the Company, with a direct competitor of the
Company for a period of two (2) years from the date of severance (the "Non-Compete Period"). For purposes of this Agreement, (i) direct competitors means companies (other
than major pharmaceutical companies) researching, developing, or selling small molecule therapeutic products directly competitive with a platform or product of Company, ProIX or its affiliates, and
(ii) "Good Reason" means (a) a material change in your duties or position without your consent, (b) the Company's material breach of any material provision of this Agreement, or
(c) a requirement that you move your primary residence more than thirty (30) miles from Houston, Texas in order to perform your employment duties without your consent, provided that, it
is understood and agreed that your duties as an employee of Biomira will require you to travel routinely to Tucson, Arizona and Biomira's headquarters in Canada and the requirement for such travel
shall not be considered "Good Reason" hereunder.

	6.
	Non-Solicitation and Non-interference: During your period of employment with the Company and for two
(2) years following the termination of your employment with the Company, you shall not, directly or indirectly, without the prior written consent of the Company, (i) solicit, encourage
or take any other action which is intended to induce or encourage any employee, partner or customer of the Company to terminate his or her employment, partnership or customer relationship to the
Company, or (ii) solicit for employment, hire or engage as an independent contractor any person who was employed by the Company at any time during your employment with the Company, provided
that clause (ii) shall not apply to solicitation, hiring or engagement of any individual whose employment with the Company has been terminated for a period of six (6) months or longer.

	7.
	Vacation: We will provide an annual vacation of 4 (four) weeks.

	8.
	Employee Benefit Plan: As of the Effective Date, you will continue to be covered under ProlX's benefit plans. It is our intention to
replace such ProIX benefit plans with our US benefit plan. The plan provides extended health care, dental, life insurance, accidental death & dismemberment, and long-term disability
coverage. These plans are governed by various plan documents which are provided by the Company's benefits carrier. 

2

 

	9.
	Retirement Savings Plan: You will become eligible for Biomira matching contributions into the company's 401(k) plan. Biomira will match
your contributions into the plan, up to a maximum of 3% of your monthly gross salary (subject to maximums as deemed by law). Contributions to this plan are made through payroll deductions. This plan
is governed by plan documents provided by our carrier for this benefit.

	10.
	Confidentiality Agreement: To protect the company's proprietary interests, all of Biomira's employees are required to sign a
Confidentiality Agreement as a condition of employment.

	11.
	Health and Safety: Biomira is vitally interested in the health and safety of all workers and is conducting its business in an
environmentally responsible manner. Protection of employees from injury at the workplace and occupational disease, while ensuring that business is conducted in an environmentally responsible manner
are continuing objectives. As part of our policy promoting the safety of our staff and the products they manufacture, as a condition of our employment and continued employment, you will be required to
comply with all health assessment and medical testing relevant to your position.

	12.
	Debarment: As a condition of employment and to protect the company's interests, you hereby certify that you have not been debarred and
are not subject to debarment under section 306 of the United States Food, Drug, and Cosmetic Act (21 USC 355a) or comparable provision of any other applicable law.

	13.
	Other Terms & Conditions: This offer letter fully conveys the details of our offer. All other terms and conditions of employment
not mentioned herein are consistent with Biomira Inc.'s corporate policies.

	14.
	Severability & Breach: In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be
illegal, unenforceable or void, this Agreement will continue in full force and effect without said provision.

	15.
	Governing Law: This offer letter shall be governed and interpreted in accordance with the laws of the Province of Alberta.

	16.
	Commencement Date: Your start date will be effective upon the successful closing date of the acquisition of ProIX by Biomira. 

We
look forward to you joining our team at Biomira. To confirm acceptance, please sign below, retain a copy for your records, and return the original to me. If you have any questions, please do not
hesitate to contact me. 

Sincerely,

	Irene Watson, MBA, CHRP
 Irene Watson, MBA, CHRP

Director, Human Resources	 	 

Accepted
this 30th day of Oct., 2006 

	Lynn Kirkpatrick
 Lynn Kirkpatrick

	 	 

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