Document:

PROPRIETARY INFORMATION, INVENTIONS,
AND COMPETITION AGREEMENT

 

THIS AGREEMENT, dated
August 16, 2012, is entered into by and between GenSpera, Inc., (the “Company”), and Nancy Jean Barnabei (“Employee”).

 

WITNESSETH:

 

WHEREAS, the Employee
has been hired by the Company to serve as its Vice President Finance and Treasurer and accordingly the Principal Accounting Officer;
and

 

WHEREAS, the Employee
may be exposed, have access to, create or make contributions to the Proprietary Information as defined below and/or inventions
of the Company;

 

NOW, THEREFORE, in
consideration for the Company’s employment of the Employee, and for other good and valuable consideration the receipt and
sufficiency of which is hereby acknowledged, the parties covenant and agree as follows:

 

AGREEMENT

 

1.             Acknowledgements. The
Employee understands and acknowledges that:

 

		(a)	As part of his/her services as an employee of the Company, he/she may be exposed or have access
to, or make new contributions and inventions of value to, the past, present and future business, products, operations and policies
of the Company.

 

		(b)	His/Her position as an employee creates a relationship of confidence and trust between the Employee
and the Company with respect to (i) information which is related or applicable to the Company’s Field of Interest (as defined
in 1(c) below) and the manner in which the Company engages in business in such Field of Interest, and (ii) information which is
related or applicable to the business of the Company or any client, customer, joint venture or other person with which the Company
has a business relationship, (a ”Business Associate”), any of which information has been or may be made known
to the Employee by the Company (including, without limitation, any Scientific Advisors of the Company) or by any Business Associate
of the Company, or any of which has been otherwise learned by the Employee as a result of or in connection with his/her service
as an employee of the Company.

 

		(c)	The Company possesses and will continue to possess information that has been created by, discovered
by, developed by or otherwise become known to the Company (including, without limitation, information created, discovered, developed
or made known by the Employee related to or arising out of his/her service as an employee of the Company) and/or in which property
rights have been assigned or otherwise conveyed to the Company, which information has commercial value to its business interests
and/or in the Field of Interest in which the Company is presently engaged or will be engaged.  The term “Field of Interest”
shall mean the development of drugs, for use in the treatment, diagnosis or prevention of cancer containing derivatives of thapsigargin. 
During an individual’s employment, the term “Field of Interest” may be expanded from time to time to include
such other areas of therapy, diagnosis or prevention as may be designated by the Company and as disclosed in its public filings
from time to time. All of the aforementioned information is hereinafter called “Proprietary Information.” By way of
illustration, but not limitation, formulas, data, know-how, improvements, inventions, techniques, regulatory compliance plans,
marketing plans, strategies, forecasts, supplier lists, manufacturing arrangements and customer lists are Proprietary Information.

 

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2.             Proprietary
Information.

 

		(a)	All Proprietary Information shall be the sole property of the Company and its successors and assigns,
and the Company and its successors and assigns shall be the sole owner of all patents and other rights in connection therewith.
The Employee hereby assigns to the Company any rights he/she may have or acquire in such Proprietary Information, and agrees to
take such action and sign such documents from time to time as the Company reasonably requires to effect or confirm such assignment.

 

		(b)	At all times, both during the term of this Agreement and thereafter until such information becomes
known to the public, the Employee will, subject to the provisions of Section 3 hereof regarding publication, keep in confidence
and trust all Proprietary Information and any other confidential information of the Company, and he/she will not use or disclose
any Proprietary Information or anything relating to it without the prior written consent of the Company, except as may be necessary
in the ordinary course of performing his/her duties as an employee of the Company or as required by law;  provided that
if disclosure is required by law, the Employee agrees to provide the Company with written notice of such disclosure obligation
prior to making such disclosure and no more than two (2) days after the Employee learns of such disclosure requirement.

 

		(c)	All documents, records, apparatus, equipment and other physical property, whether or not pertaining
to Proprietary Information, furnished to the Employee by the Company or produced by the Employee or others in connection with the
Employee’s services hereunder shall be and remain the sole property of the Company. The Employee will return and deliver
such property to the Company as and when requested by the Company. Should the Company not so request at an earlier time, the Employee
shall return and deliver all such property upon termination of his/her service as an employee to the Company for any reason, and
the Employee will not take with him/her any such property or any reproduction of such property upon such termination.

 

3.             Inventions.

 

		(a)	The Employee will promptly disclose to the Company, or any persons designated by it, all improvements,
inventions, formulas, processes, techniques, know-how and data, whether or not patentable, made or conceived or reduced to practice
or learned by him/her, either alone or jointly with others, related to or arising out of his/her position as an employee or which
are related to or useful in the business of the Company, or result from tasks which have been or may be assigned to the Employee
by the Company or result from use of premises owned, leased or contracted for by the Company (all said improvements, inventions,
formulas, processes, techniques, know-how and data being hereinafter collectively called “Inventions”).

 

		(b)	The Employee agrees that all Inventions shall be the sole property of the Company and its assigns,
and the Company and its assigns shall be the sole owner of all patents and other rights in connection therewith. The Employee hereby
assigns to the Company any rights he/she may have or acquire in such Inventions. The Employee further agrees as to all such Inventions
to assist the Company in every reasonable manner (but at the Company’s expense) to obtain, and from time to time enforce,
patents on said Inventions in any and all countries, and to that end the Employee will execute all documents for use in applying
for and obtaining such patents thereon and enforcing the same, as the Company may desire, together with any assignments thereof
to the Company or persons designated by it. The Employee’s obligation to assist the Company in obtaining and enforcing patents
for such Inventions in any and all countries shall continue beyond the termination of his/her employment by the Company, but the
Company shall compensate the Employee at a reasonable rate after such termination for time actually spent by him/her at the Company’s
request on such assistance. In the event that the Company is unable for any reason whatsoever to secure the Employee’s signature
to any lawful and necessary documents required to apply for or execute any patent application with respect to such an Invention
(including renewals, extensions, continuations, divisions or continuations in part thereof), the Employee hereby irrevocably designates
and appoints the Company and its duly authorized officers and agents, as his/her agents and attorneys-in-fact to act for and on
his/her behalf and instead of him/her, to execute and file any such application and to do all other lawfully permitted acts to
further the prosecution and issuance of patents thereon with the same legal force and effect as if executed by the Employee, and
such power of attorney created hereby is coupled with an interest.

 

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		(c)	Attached hereto, as Exhibit B, is a list describing all
inventions, original works of authorship, developments, improvements, and trade secrets which were made by Employee prior to employment
with the Company (collectively referred to as "Prior Inventions"), which belong to Employee, and which relate to the
Company's Field of Interest, and which are not assigned to the Company hereunder; or, if no such list is attached, Employee represents
that there are no such Prior Inventions. If in the course of employment with the Company, Employee incorporate into an Invention
a Prior Invention owned by Employee or in which Employee has an interest, the Company is hereby granted and shall have a nonexclusive,
royalty-free, irrevocable, perpetual, worldwide license to make, have made, modify, use and sell such Prior Invention as part of
or in connection with such Invention.

 

4.             Competition. 
While the Employee is employed by the Company and for a period of eighteen (18) months following the termination of the Employee’s
employment (the “Noncompetition Period”), the Employee shall not, for himself/herself or on behalf of any other person
or entity, directly or indirectly, whether as principal, partner, agent, independent contractor, stockholder, employee, consultant,
representative or in any other capacity, own, manage, operate or control, be concerned or connected with, or employed by, or otherwise
associate in any manner with, engage in or have a financial interest in any business that is engaged in the Field of Interest,
anywhere in the world, except that nothing in this Agreement shall preclude the Employee from (a) purchasing or owning securities
of any such business if such securities are publicly traded, and provided that the Employee’s holdings do not exceed Four
and 99/100 (4.99%) percent of the issued and outstanding securities of any class of securities of such business; or (b) working
for any academic or government institutions. 

 

5.             Solicitation
of Employees.  During the Noncompetition Period the Employee shall not, either individually or on behalf of or through
any third party, directly or indirectly (a) entice, solicit or encourage any director, employee or consultant to leave the Company,
or (b) be involved for any entity other than the Company in the recruitment, engagement, or hiring of any Company director or employee. 
This section shall prohibit the aforesaid activities by the Employee with respect to any person both while such person is a director,
employee or consultant of the Company and for thirty (30) days thereafter.

 

6.             Publications. 
The Employee agrees to consult with the Company prior to publishing (in writing or by seminar, lecture or other oral presentation)
any material relating to his/her activities that relate to the Company’s Field of Interest, and to furnish copies of any
such publication (written or oral) to the Company for prior clearance at least sixty (60) days prior to the proposed publication.
The Company agrees to review such submissions and to apply for patents as promptly as practicable so as to avoid or keep to a minimum
any delay in publishing material of scientific importance.

 

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7.             Prior
Work and Legal Obligations

 

		(a)	By signing this Agreement, the Employee represents that she/he has no agreement with or other legal
obligation to any prior employer or any other person or entity that restricts his/her ability to engage in employment discussions,
to accept employment with, or to perform any function for the Company.

 

		(b)	The Employee also acknowledges that the Company has advised the Employee that at no time, either
during any pre-employment discussions or at any time thereafter, should the Employee divulge to or use for the benefit of the Company
any trade secret or confidential or proprietary information of any previous employer.  By signing this Agreement, the Employee
affirms that she/he has not divulged or used any such information for the benefit of the Company, and that she/he has not and will
not misappropriate any proprietary information of a former employer that the Employee played any part in creating while working
for such former employer.

 

8.             Provisions
Necessary and Reasonable/Injunctive Relief  The Employee specifically agrees that the provisions of Sections 1-5
of this Agreement are necessary and reasonable to protect the Company’s Proprietary Information, goodwill and business interests. 
The Employee acknowledges that given his/her skills and work experience, such restrictions will not prevent the Employee from earning
a living in his/her general field of occupation during the term of such restrictions.  The Employee further agrees that a
breach or threatened breach by the Employee of Sections 1-5 of this Agreement would pose the risk of irreparable harm to the Company,
and that in the event of a breach or threatened breach of any of such covenants, without posting any bond or security, the Company
shall be entitled to seek and obtain equitable relief, in the form of specific performance, or temporary, preliminary or permanent
injunctive relief, or any other equitable remedy which then may be available.  The seeking of such injunction or order shall
not affect the Company’s right to seek and obtain damages or other equitable relief on account of any such actual or threatened
breach.

 

9.             Disclosure
to Future and Prospective Employers.  The Employee agrees that so long as this Agreement is effective the Employee
will notify his/her employers of this Agreement and that the Company may notify any of the Employee’s future or prospective
employers or other third parties of this Agreement and may provide a copy of this Agreement to such parties without the Employee’s
further consent.

 

10.           Transfer,
Promotion or Reassignment.  The Employee acknowledges and agrees that if she/he should transfer between or among any affiliates
of the Company or be promoted or reassigned to functions other than the Employee’s present functions, all terms of this Agreement
shall continue to apply with full force.

 

11.           Severability. 
The parties intend this Agreement to be enforced as written.  However, if any portion or provision of this Agreement shall
to any extent be declared illegal or unenforceable by a duly authorized court having jurisdiction, both parties desire that such
portion or provision be modified by such a court so as to make it enforceable (“blue-penciled”), and that the remainder
of this Agreement be enforced to the fullest extent permitted by law.  In the event that such court deems any provision of
this Agreement wholly unenforceable, then all remaining provisions shall nevertheless remain in full force and effect.

 

12.           Notices. 
Except as otherwise specifically provided herein, any notice required or permitted by this Agreement shall be in writing and shall
be delivered as follows with notice deemed given as indicated: (i) by personal delivery when delivered personally; (ii) by overnight
courier upon written verification of receipt; (iii) by telecopy or facsimile transmission upon acknowledgment of receipt of electronic
transmission; or (iv) by certified or registered mail, return receipt requested, upon verification of receipt.  Notices to
Employee shall be sent to the last known address in the Company’s records or such other address as Employee may specify in
writing.  Notices to the Company shall be sent to the Company’s Chairman or to such other Company representative as
the Company may specify in writing.

 

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13.           Binding
Effect.  The Agreement will be binding upon and inure to the benefit of (a) the heirs, executors and legal representatives
of the Employee upon the Employee’s death and (b) any successor of the Company.  Any such successor of the Company
will be deemed substituted for the Company under the terms of the Agreement for all purposes.  For this purpose, “successor”
means any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly
or indirectly acquires all or substantially all of the assets or business of the Company.  The Employee’s obligations
hereunder shall survive the termination of the Employee’s employment by the Company, regardless of the reason for such termination.

 

14.           Waivers.
No waivers, express or implied, of any breach of this agreement shall be held or construed as a waiver of any other breach of the
same or any other covenant, agreement or duty hereunder.

 

15.           Governing
Law.  This agreement shall be construed and enforced in accordance with the law of Delaware, without giving effect to
conflict of law principles.  This agreement represents the entire agreement of the parties with respect to the subject matter
hereof, and may only be amended or modified by a written instrument signed by the parties.

 

16.           Meaning
of Headings.  The headings in this Agreement are for convenience only, and both parties agree that they shall not be construed
or interpreted to modify or affect the construction or interpretation of any provision of this Agreement.

 

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

 

	 	GENSPERA, INC.	 
	 	 	 
	 	 	 
	 	Craig Dionne, PhD	 
	 	President and CEO	 

 

	 	Date:	 	 

 

	 	 	 
	 	Nancy Jean Barnabei  	 

 

	 	Date:	 	 

 

    	5INDEMNIFICATION AGREEMENT

 

            This
Indemnification Agreement ("Agreement") is entered into as of the 16th day of August, 2012 by and between GenSpera,
Inc., a Delaware corporation (the “Company”), and Nancy Barnabei ("Indemnitee").

 

RECITALS

 

            A.         The
Company and Indemnitee recognize the continued difficulty in obtaining liability insurance for the Company's directors and officers,
the significant increases in cost of such insurance and the general reductions in the coverage of such insurance.

 

            B.         The
Company and Indemnitee further recognize the substantial increase in corporate litigation in general, subjecting directors and
officers to expensive litigation risks at the same time as the availability and coverage of liability insurance has been severely
limited.

 

            C.         The
Company desires to attract and retain the services of highly qualified individuals, such as Indemnitee, to serve the Company and,
in part, in order to induce Indemnitee to continue to provide services to the Company, wishes to provide for the indemnification
and advancing of expenses to Indemnitee to the maximum extent permitted by law.

 

            D.         In
view of the considerations set forth above, the Company desires that Indemnitee be indemnified by the Company as set forth herein.

 

            NOW,
THEREFORE, the Company and Indemnitee hereby agree as follows:

 

AGREEMENT

 

            1.         Indemnification.

 

                (a)   Indemnification
of Expenses. The Company shall indemnify Indemnitee to the fullest extent permitted by law if Indemnitee was or is or becomes
a party to or witness or other participant in, or is threatened to be made a party to or witness or other participant in, any threatened,
pending or completed action, suit, proceeding or alternative dispute resolution mechanism, or any hearing, inquiry or investigation
that Indemnitee in good faith believes might lead to the institution of any such action, suit, proceeding or alternative dispute
resolution mechanism, whether civil, criminal, administrative, investigative or other (hereinafter a "Claim")
by reason of (or arising in part out of) any event or occurrence related to the fact that Indemnitee is or was a director or officer
of the Company, or any subsidiary of the Company, or is or was serving at the request of the Company as a director, officer, employee,
agent or fiduciary of another corporation, partnership, joint venture, trust or other enterprise, or by reason of any action or
inaction on the part of Indemnitee while serving in such capacity (hereinafter an "Indemnifiable Event" ) against
any and all expenses (including attorneys' fees and all other costs, expenses and obligations incurred in connection with investigating,
defending, being a witness in or participating in (including on appeal), or preparing to defend, be a witness in or participate
in, any such action, suit, proceeding, alternative dispute resolution mechanism, hearing, inquiry or investigation), losses, claims,
damages, liabilities, judgments, fines, penalties and amounts paid in settlement (if such settlement is approved in advance by
the Company, which approval shall not be unreasonably withheld) of such Claim and any federal, state, local or foreign taxes imposed
on Indemnitee as a result of the actual or deemed receipt of any payments under this Agreement, including all interest, assessments
and other charges paid or payable in connection with or in respect of such Expenses (collectively, hereinafter "Expenses")
if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests
of the Company, and, with respect to any criminal action, suit or proceeding, Indemnitee had no reasonable cause to believe Indemnitee's
conduct was unlawful.

 

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                (b)
  Mandatory Payment of Expenses. Notwithstanding any other provision of this Agreement other than Section 7 hereof, to
the extent that Indemnitee has been successful on the merits or otherwise, including, without limitation, the dismissal of a Claim
without prejudice, in defense of any Claim referred to in Section (1)(a) hereof or in the defense of any Claim, issue or matter
therein, Indemnitee shall be indemnified against all Expenses incurred by Indemnitee in connection therewith.

 

            2.         Expenses;
Indemnification Procedure.

 

                 (a)  Advancement
of Expenses. The Company shall pay all Expenses incurred by Indemnitee in connection with the investigation, defense, settlement
or appeal of any civil or criminal Claim referenced in Section 1(a) hereof in advance of the final disposition of such Claim. Indemnitee
hereby undertakes to repay such amounts advanced only if, and to the extent that, it shall ultimately be determined that Indemnitee
is not entitled to be indemnified by the Company as authorized hereby. The advances to be made hereunder shall be paid by the Company
to Indemnitee following a request therefor, but in any event no later than sixty days after receipt by the Company of written demand
from Indemnitee for such advances.

 

                 (b)  Notice/Cooperation
by Indemnitee. Indemnitee shall, as a condition precedent to Indemnitee's right to be indemnified under this Agreement, give
the Company notice in writing as soon as practicable of any Claim made against Indemnitee for which indemnification or advancement
will or could be sought under this Agreement. Notice to the Company shall be directed to the General Counsel of the Company at
the address shown on the signature page of this Agreement (or such other address as the Company shall designate in writing to Indemnitee).
In addition, Indemnitee shall give the Company such information and cooperation as it may reasonably require and as shall be within
Indemnitee's power.

 

                 (c)  Procedure.
Any indemnification and advances of Expenses provided for in Section 1 and Section 2 of this Agreement shall be paid by the Company
to Indemnitee as soon as practicable after receipt of written request from Indemnitee for such indemnification or advances along
with appropriate written documentation verifying such Expenses, but in any event no later than sixty days after receipt of such
request. If the Company believes that Indemnitee has not met the standards of conduct which make it permissible under applicable
law for the Company to indemnify Indemnitee for the Expenses claimed, the Company may file an action in the Court of Chancery of
the State of Delaware to obtain a declaratory judgment that Indemnitee is not entitled under applicable law to receive indemnification
or advancement from the Company (hereinafter a “Declaratory Action”). If the Company files a Declaratory Action,
Indemnitee shall be entitled to receive interim payments of Expenses pursuant to Subsection 2(a) including Expenses incurred in
defending a Declaratory Action unless and until the Court of Chancery of the State of Delaware issues an order or judgment that
Indemnitee is not entitled under applicable law to receive indemnification or advancement from the Company. If the Court of Chancery
of the State of Delaware issues an order or judgment in a Declaratory Action that Indemnitee is not entitled under applicable law
to receive indemnification or advancement from the Company, the Company shall have no further obligation under this Agreement,
the Company's Certificate of Incorporation, the Company Bylaws or any other applicable law, statute or rule to provide indemnification
or advances of Expenses to Indemnitee and Indemnitee shall be responsible for repaying all such amounts previously advanced to
Indemnitee as provided in Section 2(a).

 

                 (d)  No
Presumptions. For purposes of this Agreement, the termination of any Claim by judgment, order, settlement (whether with or
without court approval) or conviction, or upon a plea of nolo contendere, or its equivalent, shall not create a presumption that
Indemnitee did not meet any particular standard of conduct or have any particular belief or that a court has determined that indemnification
is not permitted by applicable law. In addition, neither the failure of the Company (including its Board of Directors, any committee
or subgroup of the Board of Directors, independent legal counsel, or its stockholders) to have made a determination that indemnification
of Indemnitee is proper in the circumstances because Indemnitee has met the applicable standard of conduct required by applicable
law, nor an actual determination by the Company (including its Board of Directors, any committee or subgroup of the Board of Directors,
independent legal counsel, or its stockholders) that Indemnitee has not met such applicable standard of conduct, shall create a
presumption that Indemnitee has or has not met the applicable standard of conduct.

 

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                 (e)  Burden
of Proof. In a Declaratory Action, the burden of proof shall be on the Company to establish that Indemnitee is not entitled
to indemnification or advances.

 

                 (f)
  Notice to Insurers. If, at the time of the receipt by the Company of a notice of a Claim pursuant to Section 2(b) hereof,
the Company has liability insurance in effect which may cover such Claim, the Company shall give prompt notice of the commencement
of such Claim to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter
take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result
of such Claim in accordance with the terms of such policies.

 

                 (g)  Selection
of Counsel. In the event the Company shall be obligated hereunder to pay the Expenses of any Claim, the Company shall be entitled
to assume the defense of such Claim with counsel approved by Indemnitee, which approval shall not be unreasonably withheld, upon
the delivery to Indemnitee of written notice of its election so to do. After delivery of such notice, approval of such counsel
by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement
for any fees of counsel subsequently incurred by Indemnitee with respect to the same Claim. Notwithstanding the Company's assumption
of the defense of any Claim, the Company shall be obligated to pay the Expenses of any Claim if (A) the employment of counsel by
Indemnitee has been previously authorized by the Company, (B) the Company shall have reasonably concluded that there is a conflict
of interest between the Company and Indemnitee in the conduct of any such defense such that Indemnitee needs to be separately represented,
or (C) the Company shall not continue to retain counsel to defend such Claim, then the fees and expenses of counsel retained by
Indemnitee shall be at the expense of the Company. The Company shall have the right to conduct such defense as it sees fit in its
sole discretion, including the right to settle any Claim against Indemnitee without the consent of the Indemnitee.

 

            3.         Additional
Indemnification Rights; Nonexclusivity.

 

                 (a)   Scope.
The Company hereby agrees to indemnify Indemnitee to the fullest extent permitted by law, notwithstanding that such indemnification
is not specifically authorized by the other provisions of this Agreement, the Company's Certificate of Incorporation, the Company's
Bylaws or by statute. In the event of any change after the date of this Agreement in any applicable law, statute or rule which
expands the right of a Delaware corporation to indemnify a member of its Board of Directors or an officer, employee, agent or fiduciary,
it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits afforded by such change.
In the event of any change in any applicable law, statute or rule which narrows the right of a Delaware corporation to indemnify
a member of its Board of Directors or an officer, employee, agent or fiduciary, such change, to the extent not otherwise required
by such law, statute or rule to be applied to this Agreement, shall have no effect on this Agreement or the parties' rights and
obligations hereunder except as set forth in Section 7(a) hereof.

 

                 (b)   Nonexclusivity.
The indemnification provided by this Agreement shall be in addition to any rights to which Indemnitee may be entitled under the
Company's Certificate of Incorporation, its Bylaws, any agreement, any vote of stockholders or disinterested directors, the General
Corporation Law of the State of Delaware, or otherwise. The indemnification provided under this Agreement shall continue as to
Indemnitee for any action Indemnitee took or did not take while serving in an indemnified capacity even though Indemnitee may have
ceased to serve in such capacity.

 

            4.        No
Duplication of Payments. The Company shall not be liable under this Agreement to make any payment in connection with any Claim
made against Indemnitee to the extent Indemnitee has otherwise actually received payment (under any insurance policy, Certificate
of Incorporation, Bylaw or otherwise) of the amounts otherwise indemnifiable hereunder.

 

            5.        Partial
Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for a portion
of Expenses incurred in connection with any Claim, but not, however, for the total amount thereof, the Company shall nevertheless
indemnify Indemnitee for the portion of such Expenses to which Indemnitee is entitled.

 

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            6.        Mutual
Acknowledgement. Both the Company and Indemnitee acknowledge that in certain instances, Federal law or applicable public policy
may prohibit the Company from indemnifying its directors, officers, employees, agents or fiduciaries under this Agreement or otherwise.
Indemnitee understands and acknowledges that the Company has undertaken or may be required in the future to undertake with the
Securities and Exchange Commission to submit the question of indemnification to a court in certain circumstances for a determination
of the Company's right under public policy to indemnify Indemnitee.

 

            7.        Exceptions.
Any other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:

 

                 (a)   Excluded
Action or Omissions. To indemnify (i) any Claim by or in the right of the Company as to which Indemnitee shall have been adjudged
to be liable to the Company unless and to the extent that the Court of Chancery of the State of Delaware or such other court in
which such Claim was brought, shall determine upon application that despite the adjudication of liability, in view of all the circumstances
of the case, Indemnitee is fairly and reasonably entitled to indemnity for such Expenses such court shall deem proper, or (ii)
any other acts, omissions or transactions from which Indemnitee may not be relieved of liability under Applicable law;

 

                 (b)  Claims
Initiated by Indemnitee. To indemnify or advance expenses to Indemnitee with respect to Claims initiated or brought voluntarily
by Indemnitee and not by way of defense, except (i) with respect to Claims brought to establish or enforce a right to indemnification
or advancement under this Agreement or any other agreement or insurance policy or under the Company's Certificate of Incorporation
or Bylaws, as now or hereafter in effect relating to Claims for Indemnifiable Events, (ii) in specific cases if the Board of Directors
has approved the initiation or bringing of such Claim, or (iii) as otherwise required under Section 145 of the Delaware General
Corporation Law, regardless of whether Indemnitee ultimately is determined to be entitled to such indemnification, advance expense
payment or insurance recovery, as the case may be;

 

                 (c)  Claims
Under Section 16(b). To indemnify Indemnitee for Expenses and the payment of profits arising from the purchase and sale by
Indemnitee of securities in violation of Section 16(b) of the Securities Exchange Act of 1934, as amended, or any similar successor
statute.

 

                 (d)  Disgorgement
of Profits and Bonuses Pursuant to Section 304. To indemnify Indemnitee for (i) any bonus or other incentive-based or equity-based
compensation received by Indemnitee or (ii) any profits arising from the sale of securities made by Indemnitee that Indemnitee
is required pursuant to Section 304 of the Sabarnes-Oxley Act of 2002 to reimburse to the Company.

 

            8.        Period
of Limitations. No legal action shall be brought and no cause of action shall be asserted by or in the right of the Company
against Indemnitee, Indemnitee's estate, spouse, heirs, executors or personal or legal representatives after the expiration of
five (5) years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished
and deemed released unless asserted by the timely filing of a legal action within such five-year period; provided , however
, that if any shorter period of limitations is otherwise applicable to any such cause of action, such shorter period shall govern.

 

            9.       Construction
of Certain Phrases.

 

 (a)       For purposes
of this Agreement, references to the "Company" shall include, in addition to the resulting corporation, any constituent
corporation (including any constituent of a constituent) absorbed in a consolidation or merger which, if its separate existence
had continued, would have had power and authority to indemnify its directors, officers, employees, agents or fiduciaries, so that
if Indemnitee is or was a director, officer, employee, agent or fiduciary of such constituent corporation, or is or was serving
at the request of such constituent corporation as a director, officer, employee, agent or fiduciary of another corporation, partnership,
joint venture, employee benefit plan, trust or other enterprise, Indemnitee shall stand in the same position under the provisions
of this Agreement with respect to the resulting or surviving corporation as Indemnitee would have with respect to such constituent
corporation if its separate existence had continued.

 

    	4

    	 

    

 

(b)       For purposes of this Agreement, references to "other enterprises" shall include employee benefit plans; references
to "fines" shall include any excise taxes assessed on Indemnitee with respect to an employee benefit plan; and references
to "serving at the request of the Company" shall include any service as a director, officer, employee, agent or fiduciary
of the Company which imposes duties on, or involves services by, such director, officer, employee, agent or fiduciary with respect
to an employee benefit plan, its participants or its beneficiaries; and if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in the interest of the participants and beneficiaries of an employee benefit plan, Indemnitee shall be
deemed to have acted in a manner "not opposed to the best interests of the Company" as referred to in this Agreement.

 

            10.       Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall constitute an original.

 

            11.       Binding
Effect; Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the
parties hereto and their respective successors, assigns, including any direct or indirect successor by purchase, merger, consolidation
or otherwise to all or substantially all of the business and/or assets of the Company, spouses, heirs, and personal and legal representatives.
The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise)
to all, substantially all, or a substantial part, of the business and/or assets of the Company, by written agreement in form and
substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform if no such succession had taken place. This Agreement shall continue in effect
with respect to Claims relating to Indemnifiable Events regardless of whether Indemnitee continues to serve as a director, officer,
employee, agent or fiduciary of the Company or of any other enterprise at the Company's request.

 

            12.       Notice.
All notices and other communications required or permitted hereunder shall be in writing, shall be effective when given, and shall
in any event be deemed to be given (a) five (5) days after deposit with the U.S. Postal Service or other applicable postal service,
if delivered by first class mail, postage prepaid, (b) upon delivery, if delivered by hand, (c) one business day after the business
day of deposit with Federal Express or similar overnight courier, freight prepaid, or (d) one day after the business day of delivery
by facsimile transmission with confirmation of receipt, if delivered by facsimile transmission, with copy by first class mail,
postage prepaid, and shall be addressed if to Indemnitee, at the Indemnitee address as set forth beneath Indemnitee signatures
to this Agreement and if to the Company at the address of its principal corporate offices (attention: Secretary) or at such other
address as such party may designate by ten days' advance written notice to the other party hereto.

 

            13.       Consent
to Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the jurisdiction of the courts of the State
of Delaware for all purposes in connection with any action which arises out of or relates to this Agreement and agree that any
action instituted under this Agreement shall be commenced, prosecuted and continued only in the Court of Chancery of the State
of Delaware in and for New Castle County, which shall be the exclusive and only proper forum for adjudicating such a claim.

 

            14.       Severability.
The provisions of this Agreement shall be severable in the event that any of the provisions hereof (including any provision within
a single section, paragraph or sentence) are held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable,
and the remaining provisions shall remain enforceable to the fullest extent permitted by law. Furthermore, to the fullest extent
possible, the provisions of this Agreement (including, without limitations, each portion of this Agreement containing any provision
held to be invalid, void or otherwise unenforceable, that is not itself invalid, void or unenforceable) shall be construed so as
to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

 

    	5

    	 

    

 

            15.        Choice
of Law. This Agreement shall be governed by and its provisions construed and enforced in accordance with the laws of the State
of Delaware, as applied to contracts between Delaware residents, entered into and to be performed entirely within the State of
Delaware, without regard to the conflict of laws principles thereof.

 

            16.        Subrogation.
In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee who shall execute all documents required and shall do all acts that may be necessary to secure such rights
and to enable the Company effectively to bring suit to enforce such rights.

 

            17.        Amendment
and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective unless it is
in writing signed by both the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute
a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

            18.        Integration
and Entire Agreement. This Agreement sets forth the entire understanding between the parties hereto and supersedes and merges
all previous written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between
the parties hereto.

 

            19.        No
Construction as Employment Agreement. Nothing contained in this Agreement shall be construed as giving Indemnitee any right
to be retained in the employ of the Company or any of its subsidiaries.

 

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

 

	 	GENSPERA, INC.
	 	 	 
	 	By:  Craig Dionne, PhD	 
	 	Title:  President and CEO	 

 

	AGREED TO AND ACCEPTED BY:
	 	 
	Signature:	 
	 	 
	 	 
	Printed Name:	 
	 	 
	 	 
	Address:	 
	11 Great Oak Drive	 
	Glen Mills, PA   19342	 

 

    	6

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