Document:

Confidential
      Materials omitted and filed separately with the

                Securities
      and Exchange Commission.  Asterisks denote
      omissions.

              	
                Exhibit
      10.2

              

      

    

     

    Master
Agreement for

    Clinical
Trials Management Services

    

    This
Master Agreement for Clinical Trials Management Services (the “Agreement”) is
made and entered into on  September 16, 2009, (the “Effective Date”),
by and between Idenix
Pharmaceuticals, Inc., with offices at 60 Hampshire Street, Cambridge, MA
02139, USA (hereinafter referred to as “Sponsor”) and Pharmaceutical Research Associates,
Inc., a Commonwealth of Virginia corporation, together with its
Affiliates, with offices at 4130 ParkLake Avenue, Suite 400, Raleigh, NC 27612
(hereinafter referred to as “PRA”), both hereinafter referred as
"Parties".

    

    PRA is
engaged in the business of providing services related to the design,
implementation and management of clinical development programs for the
pharmaceutical, biotechnology and medical device industries; and

    

    Sponsor
desires to engage PRA to perform such services in connection with certain
pharmaceutical products under development by or under control of
Sponsor;

    

    Therefore,
in consideration of the premises and mutual promises and undertakings herein,
the receipt and sufficiency of which are hereby acknowledged, the Parties
intending to be legally bound do hereby agree as follows:

    

    
      	
              1.0

            	
              Definitions

            

    

    

    
      	
               
      

            	
              a.

            	
              Affiliates:  With
      respect to either party, an Affiliate is any
      entity that is controlled by, controls, or is under common control with
      the party named above.  For purposes of this Agreement,
      Novartis Pharma AG shall not be considered an Affiliate of
      Idenix.

            

    

    

    
      	
               
      

            	
              b.

            	
              Amendment: A
      written specification of changes to a Task Order that is agreed to by the
      Parties and authorized by signature of each party’s authorized
      representative(s), in a format substantially similar to Exhibit B attached
      hereto.

            

    

    

    
      	
               
      

            	
              c.

            	
              Budget for
      Services: A component of a Task Order that outlines the estimated
      cost of the Services based upon the Project
  Specifications.

            

    

    

    
      	
               
      

            	
              d.

            	
              Institutional Review
      Board (“IRB”):  Any board, committee, or other group
      formally designated by an institution to review, to approve the initiation
      of, and to conduct periodic review of, biomedical research involving human
      subjects.  The primary purpose of such review is to assure the
      protection of the rights and welfare of human subjects.  The
      term has the same meaning as the phrase institutional review committee,
      independent ethics committee or ethics
  committee.

            

    

    
      

      
        	
                 
      

              	
                e.

              	
                Early Development
      Services: A Study performed at a facility or external investigative
      site for Phase I to Phase IIa clinical trials (excluding oncology studies)
      as designated in a Task
Order.

              

      

    

     

    
      
        
          
            	 
      	
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                  Master Agreement for Clinical Trials Management
      Services       
  

                
	
                  IDENIX PHARMACEUTICALS,
      Inc.        

                
	 
      

        

      

    

    

    
      	
               
      

            	
              f.

            	
              GCP or Good Clinical
      Practice: The standard defined in the ICH Harmonised Tripartite
      Guideline For Good Clinical Practice E6(R1) Current Step 4 version dated
      10 June 1996 (including the Post Step 4 corrections) together with, for
      Services performed in the European Union, such other Good Clinical
      Practice requirements as are specified in Directive 2001/20/EC of the
      European Parliament and the Council of 4 April 2001 relating to medicinal
      products for human use and in guidance published by the European
      Commission pursuant to such Directive; and for Services performed in other
      jurisdictions, any analogous laws and/or
  regulations.

            

    

    

    
      	
               
      

            	
              g.

            	
              Institution:
      Any public or private entity or agency or medical or dental facility where
      clinical trials are conducted.

            

    

    

    
      	
               
      

            	
              h.

            	
              Investigator(s):
      A person or persons responsible for the conduct of the clinical trial at a
      Trial Site. If a trial is conducted by a team of individuals at a Trial
      Site, the Investigator is the responsible leader of the team and may be
      called the principal investigator.

            

    

    

    
      	
               
      

            	
              i.

            	
              Key Personnel:
      The key PRA personnel assigned to the Services including the Project
      Manager and others as agreed to by the
Parties.

            

    

    

    
      	
               
      

            	
              j.

            	
              Milestone:  An
      event associated with a specific date, for which a payment will be due, as
      set out in the Payment Schedule of any Task
  Order.

            

    

    

    
      	
               
      

            	
              k.

            	
              Pass-Through
      Budget: A component of a Task Order that outlines the estimated
      costs of pass-through expenses for goods and services incurred by PRA on
      behalf of Sponsor, in connection with the performance of the
      Services.

            

    

    

    
      	
               
      

            	
              l.

            	
              Payment
      Schedule:  A component of a Task Order that describes the
      timing of payments due to be made for Services delivered and pass-through
      expenses incurred.

            

    

    

    
      	
               
      

            	
              m.

            	
              PRA Project
      Manager: The PRA representative assigned to lead the PRA project
      team, act as the principal liaison between PRA and Sponsor, and provide
      general oversight in the delivery of Services with regard to a specific
      Task Order.

            

    

    

    
      	
               
      

            	
              n.

            	
              Project
      Schedule: A component of a Task Order that outlines the project
      milestones, estimated timelines and completion date for the Services based
      upon the Project Specifications.

            

    

    

    
      	
               
      

            	
              o.

            	
              Project
      Specifications: A component of a Task Order that outlines the
      specific Services to be provided, assumptions used in preparing the Budget
      for Services, Pass-Through Budget and Project Schedule, and assignment of
      project-related responsibilities between the
  Parties.

            

    

    

    
      	
               
      

            	
              p.

            	
              Services: The
      services to be provided by PRA and its Subcontractors (if applicable)
      under this Agreement as specifically outlined in a Task Order or otherwise
      authorized by Sponsor.

            

    

    
       

      
        
          
            
              	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
               
      

            	
              q.

            	
              Study: A
      clinical trial performed at one or more investigative sites under the
      supervision of one or more Investigator(s) pursuant to a study
      protocol.

            

    

    

    
      	
               
      

            	
              r.

            	
              Subcontractor:
      An individual or company engaged by PRA to conduct some elements of a Task
      Order, including without limitation, clinical laboratories, patient
      recruitment services, interactive voice recognition systems and other
      services.

            

    

    

    
      	
               
      

            	
              s.

            	
              Task Order: A
      written specification of Services to be performed by PRA under this
      Agreement, including, but not limited to, the Project Specifications,
      Project Schedule, Contact Information, Budget for Services, Pass-Through
      Budget, and Payment Schedule.

            

    

    

    
      	
               
      

            	
              t.

            	
              Trial
      Site(s):   The location(s) where trial-related
      activities are actually conducted.

            

    

    

    
      	
              2.0

            	
              Services

            

    

    

    PRA,
itself or through one of its Affiliates or Subcontractors (if applicable), will
perform the Services as specified in this Agreement and any associated Task
Order(s), in accordance with the terms and conditions of this
Agreement.  PRA will use reasonable efforts to perform the Services
described in any Task Order issued hereunder and to meet all obligations and
deadlines described in such Task Orders.  PRA's inability to meet an
obligation and/or established deadline for reasons not within the control of
PRA, any PRA Affiliate or Subcontractor will not constitute a breach of this
Agreement.  The Parties will agree on all Services to be provided and
the performance of those Services will be authorized in writing through the
execution of a Task Order.  PRA will not begin work on any Services
without an executed Task Order authorizing the Services.

    

    
      	
              2.1

            	
              Task
      Orders

            

    

    

    PRA will
provide Services as specified in one or more Task Orders, which will be prepared
in a format substantially similar to the Form of Task Order, attached hereto as
Exhibit A or A-1, as appropriate.  Each Task Order will include
detailed information with respect to a specific project, including Project
Specifications, Project Schedule, Budget for Services, Pass-Through Budget,
Payment Schedule and Designation of Key Personnel.  Task Orders will
become effective when signed by an authorized representative of both
Parties.

    

    
      	
               
      

            	
              a.

            	
              Project
      Specifications.  The Task Order will provide Project
      Specifications, which may include without limitation, a description of the
      study protocol, Trial Sites, subjects, case report forms (“CRFs”), reports
      and Services to be provided by PRA.  Sponsor agrees that the
      Project Specifications in each Task Order consist of descriptions,
      assumptions and assignment of responsibilities provided to PRA by Sponsor
      and/or agreed to by Sponsor, that PRA has relied upon this information in
      preparing the timelines and budgets outlined in the Task Order, and that
      the accuracy and completeness of the Project Specifications are the
      responsibility of Sponsor.

            

    

    
       

      
        
          
            
              	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
               
      

            	
              b.

            	
              Project
      Schedule.  The Task Order will include major project
      milestones and target dates for completion of each
      Milestone.  The Parties agree that the timelines in the Project
      Schedule are reasonable based upon the Project
      Specifications.  Sponsor will  make all reasonable
      efforts to respond fully and promptly to PRA’s requests for information,
      approvals and other actions, which are reasonably necessary for PRA’s
      completion of the Services as outlined in the Project
      Schedule.  Sponsor agrees that any failure to respond to such
      requests from PRA, which results in delay or contributes in any material
      way to the failure of PRA to meet the timelines specified within the
      Project Schedule, may result in changes to the Task Order that are
      reasonably related to the delay, with a corresponding impact on the
      Project Schedule and Budget for Services which will be documented in
      accordance with Section 2.2 below.

            

    

    

    
      	
               
      

            	
              c.

            	
              Budget for
      Services.  Each Task Order will include a Budget for the
      Services to be performed by PRA and will include, without limitation, the
      costs related to the Services to be provided.  PRA will not
      exceed the total cost outlined in the Budget for Services without the
      prior approval of Sponsor, unless specifically authorized by an Amendment,
      as set out in Section 2.2 below.  Sponsor agrees that the Budget
      for Services presented in each Task Order is an estimate based upon the
      Project Specifications and Project Schedule.  Any changes to the
      Project Specifications, including without limitation, a request by Sponsor
      for compression of the timelines or extensions of the timelines for any
      reason, may result in changes to the Task Order, which will be documented
      in accordance with Section 2.2
below.

            

    

    

    
      	
               
      

            	
              d.

            	
              Pass-Through
      Budget.  Each Task Order may include a Pass-Through
      Budget, which will contain an estimate of anticipated pass-through
      expenses to be incurred on Sponsor’s behalf in connection with performance
      of the Services.  Sponsor agrees that the Pass-Through Budget
      contains an estimate based on the Project Specifications, the Project
      Schedule, and information supplied by third party suppliers, and that such
      costs cannot be predicted with complete certainty at the outset of a
      Study.  Sponsor will reimburse all of PRA’s actual direct costs
      for pass-through expenses incurred in performance of the Services, in
      accordance with Section 3.4 below.  Amounts included in the
      Pass-Through Budget for any Task Order will not include social taxes or
      other amounts which may be due and payable by PRA to local governmental
      authorities as a consequence of making payments to Investigators, since
      these costs cannot be predicted at the outset of a Study. Sponsor will be
      notified of all such taxes when assessed, and will be responsible for all
      such amounts payable in the same manner as the investigator
      fees.  PRA will promptly notify Sponsor in writing of any
      increases or decreases in the Pass-Through Budget upon receipt of such
      information from third party suppliers or other sources, as the case may
      be, and such information will be included in an Amendment to the
      applicable Task Order.

            

    

    

    
      	
               
      

            	
              e.

            	
              Payment
      Schedule.  Each Task Order will contain a Payment
      Schedule, which will specify the manner and timing of all payments for
      Services and pass-through expenses described in the Task
      Order.  Any changes to the Project Specifications, and
      corresponding changes to the Budget for Services or Pass-Through Budget,
      will be reflected in a corresponding change in the Payment
      Schedule.

            

    

     

    
      
        
          
            	 
      	
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                  Master Agreement for Clinical Trials Management
      Services       
  

                
	
                  IDENIX PHARMACEUTICALS,
      Inc.        

                
	 
      

        

      

    

     

    
      	
               
      

            	
              f.

            	
              Contact Information
      and Designation of Key Personnel.  Each Task Order will
      identify the Key Personnel as the Parties may agree are to be
      included.

            

    

    

    
      	
              2.2

            	
              Amendments

            

    

    

    Any
changes to a Task Order, including but not limited to changes to the Project
Specifications, Project Schedule, Budget for Services or Pass-Through Budget,
will be agreed upon in writing by the Parties and documented in an Amendment to
the Task Order in a form substantially similar to that attached hereto as
Exhibit B.  Sponsor agrees that PRA will not perform any out-of-scope
work described in an Amendment until it is approved in writing by both
Parties.

    

    
      	
               
      

            	
              a.

            	
              Unanticipated
      Changes.  Sponsor agrees that some changes in costs
      associated with clinical research resulting from, for example, changes to
      Project Specifications resulting from modifications to the study protocol,
      delays in receipt of study drugs from Sponsor, changes in amounts charged
      by third party suppliers or poor subject enrollment due to changes in
      clinical practices, cannot be reasonably anticipated in advance. Upon
      identification by either party of changes to the project assumptions or
      other unanticipated changes to the Project Specifications, the Parties
      will negotiate in good faith an Amendment to accommodate increases or
      decreases to the Project Budget, Project Schedule or Payment Schedule that
      are reasonably associated with any such adjustments.  Amendments
      will be documented in accordance with the terms of this Section
      2.2.  Such unanticipated changes may include, but are not
      limited to, any of the following:

            

    

    

    
      	
               
      

            	
              i.

            	
              delays
      in receiving from Sponsor technical information or Sponsor's acceptance of
      documents submitted by PRA in the performance of its duties under this
      Agreement or any Task Order, or any other delay on the part of
      Sponsor;

            

    

    
      	
               
      

            	
              ii.

            	
              delay
      in receipt of regulatory approval from a regulatory agency, IRB or Ethics
      Committee;

            

    

    
      	
               
      

            	
              iii.

            	
              delay
      in performance by a Subcontractor not selected by
  PRA;

            

    

    
      	
               
      

            	
              iv.

            	
              delay
      in shipment of study drug, clinical samples and/or clinical
      supplies;

            

    

    
      	
               
      

            	
              v.

            	
              delay
      due to changes in standard of care imposed by law, regulation or changes
      in medical practice affecting participating
  sites;

            

    

    
      	
               
      

            	
              vi.

            	
              delay
      by reason of force majeure as defined
herein;

            

    

    
      	
               
      

            	
              vii.

            	
              Sponsor
      requested changes to the Services or
protocol;

            

    

    
      	
               
      

            	
              viii.

            	
              delays
      due to questions received by either party from regulatory agencies or
      ethics committees regarding submission materials that relate to
      characteristics of the study drug or protocol
  design;

            

    

    
      	
               
      

            	
              ix.

            	
              delays
      due to any changes in applicable law or regulatory environment;
      or

            

    

    
      	
               
      

            	
              x.

            	
              changes
      for any other reason agreed upon in writing by
  Sponsor.

            

    

     

    
      
        
          
            	 
      	
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                  Master Agreement for Clinical Trials Management
      Services       
  

                
	
                  IDENIX PHARMACEUTICALS,
      Inc.        

                
	 
      

        

      

    

     

    
      	
              2.3

            	
              Project
      Staffing

            

    

    

    In
performing the Services, PRA will assign personnel who are adequately trained,
qualified and experienced to conduct the work as specified in a Task
Order.  Sponsor may make reasonable requests for replacement of
assigned personnel for cause, such as unsatisfactory performance or
interpersonal conflicts.  PRA will promptly respond to any such
request and make reasonable efforts to correct the situation in order to improve
performance, or to provide a replacement, at its own expense, within a mutually
agreeable timeframe.

    

    
      	
               
      

            	
              a.

            	
              Key
      Personnel.  PRA will assign a PRA Project Manager and
      other employees whose participation in a project is required for the
      duration of the project, who will serve as Key Personnel.  Key
      Personnel may include, without limitation, Lead Clinical Research
      Associates, Lead Data Managers, Medical Monitors and Lead
      Biostatisticians.  PRA will provide [**] days notice to Sponsor,
      whenever practical, of any changes to the Key Personnel.  PRA
      will provide project-specific training to replacement Key Personnel at its
      own expense.

            

    

    

    
      	
               
      

            	
              b.

            	
              Project
      Team.  PRA will assign non-Key Personnel at its sole
      discretion, from one or more of its offices located worldwide, as needed
      to perform the Services in accordance with the Task
  Order.

            

    

    

    
      	
               
      

            	
              c.

            	
              Use of Contract
      Employees.  PRA may, at its own discretion, assign some
      elements of the Services to contract employees.  PRA agrees that
      any contract employees used to perform the Services will be adequately
      qualified, experienced and trained as required to perform the Services in
      the same manner as PRA qualifies and trains its own
      employees.  PRA will remain responsible for satisfactory
      performance of all Services performed by contract
    employees.

            

    

    

    
      	
              2.4

            	
              Use
      of Subcontractors

            

    

    

    PRA may
use Subcontractors to conduct some elements of a Task Order.  PRA will
notify Sponsor in advance of its use of Subcontractors.  PRA shall not
subcontract or assign any Services or its obligations under this Agreement or a
Task Order without the prior written consent of Sponsor. In the event that
Sponsor objects, for reasonable cause, to any such PRA Subcontractors, PRA will
replace the Subcontractor within a mutually agreeable timeframe.

    

    
      	
               
      

            	
              a.

            	
              Sponsor-Selected
      Subcontractors.  In the event that Sponsor requires PRA
      to use a specific Subcontractor, PRA will not be responsible for the
      performance of the Subcontractor, and Sponsor will manage the performance
      of the Subcontractor and be responsible for any delays or changes to the
      Project Schedule or Project Budget that result from the performance of the
      Subcontractor.  PRA will notify Sponsor promptly of any
      performance issues arising out of the use of any such
      Subcontractors.  If Sponsor engages a Subcontractor, but
      requires that PRA manage or oversee the performance of the Subcontractor,
      then Sponsor will supply PRA with a copy of the relevant contract with the
      Subcontractor.

            

    

    

    
      	
               
      

            	
              b.

            	
              PRA-Selected
      Subcontractors.  For Subcontractors selected and
      contracted directly by PRA, PRA will be responsible for requiring that any
      subcontractor performing Services will comply with all the terms and
      conditions of this Agreement and the relevant Task Order and agrees to
      manage the performance of the
Subcontractor.

            

    

    
       

      
        
          
            
              	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
              2.5

            	
              Applicable
      Standards

            

    

    

    The
Parties agree that PRA will provide the operational systems, processes and
standard operating procedures to be used in performance of the Services unless
specified otherwise in the Project Specifications.  All Services will
be conducted in accordance with GCP and applicable laws and
regulations.

    

    
      	
              2.6

            	
              Sponsor-Provided
      Systems

            

    

    

    In the
event that Sponsor requires PRA to use Sponsor’s information systems and
associated processes, Sponsor will be responsible for all reasonable costs
associated with installation and operation of the systems, including costs for
hardware and software licenses, and for training of PRA personnel assigned to
the project in the use of Sponsor system(s).

    

    
      	
              3.0

            	
              PAYMENT

            

    

    

    The
Parties agree that the fees and other reimbursements that PRA will receive for
performing the Services hereunder will be outlined in each Task Order and are
subject to the following terms and conditions.

    

    
      	
              3.1

            	
              Compensation
      for Services

            

    

     

    
      For
Services provided, Sponsor will pay PRA in accordance with the terms in this
section of the
Agreement and each applicable Task Order.  The timing and frequency of
payments will be
governed by the payment schedule detailed in each Task
Order.

    

    

    
      	
              3.2

            	
              Pass-Through
      Budget

            

    

    

    
      	
               
      

            	
              a.

            	
              Pass-Through
      Expenses.  In order to provide
      funding for pass-through expenses, exclusive of investigator grants
      described below, Sponsor will make an advance payment to PRA of an amount
      agreed to by the parties in the Task Order immediately upon execution of a
      Task Order.  PRA will submit to Sponsor monthly invoices for
      amounts incurred during the relevant billing period.  The
      advance payment will be retained by PRA until the completion of the
      Services, at which time a reconciliation of expenses will be done to
      ensure that Sponsor pays for only those expenses actually incurred. The
      above advance payment will then be applied to the final invoice, if
      unpaid, and any remaining advance payment will be refunded to Sponsor
      within [**] days from the date of the final
      reconciliation.

            

    

    

    
      	
               
      

            	
              b.

            	
              Subject
      to the prior written approval of Sponsor, Sponsor shall reimburse PRA for
      reasonable out-of-pockets costs and expenses related to travel that are
      actually incurred and paid by PRA and necessary for the performance of the
      Services described above.  Payment of such costs and expenses
      shall be contingent upon the provision by PRA of a summary of receipts or
      reasonably detailed supporting
documentation

            

    

    
       

      
        
          
            
              	 
      	
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                  Master Agreement for Clinical Trials Management
      Services       
  

                
	
                  IDENIX PHARMACEUTICALS,
      Inc.        

                
	 
      

        

      

    

     

    
      	
              3.3 

            	
              Investigator
      Grants and Reconciliation.

            

    

    

    
      	
               
      

            	
              In
      order to provide for timely payments to Investigators, Sponsor will make
      an advance payment to PRA of an amount agreed to by the parties upon
      execution of a Task Order.  PRA will submit to Sponsor quarterly
      invoices in advance for estimated amounts to be paid to Investigators to
      be incurred in the upcoming quarter to ensure that adequate funds are
      available to pay such expenses.  Sponsor agrees that PRA will
      not make payments to Investigators without sufficient funds
      available.  The advance payment will be retained by PRA until
      the completion of the Services, at which time a reconciliation of expenses
      will be done to ensure that Sponsor pays for only those expenses actually
      incurred. The above advance payment will then be applied to the final
      invoice, if unpaid, and any remaining advance payment will be refunded to
      Sponsor within [**] days from the date of the final reconciliation.

            

    

    

    
      	
              3.4

            	
              Invoices

            

    

    

    
      	
               
      

            	
              a.

            	
              Invoices
      for Services and pass-through expenses will be submitted in accordance
      with the Payment Schedule associated with the relevant Task Order and will
      be prepared monthly, or as frequently as necessary.  Any final
      payments specified in the Task Order will be invoiced upon completion of
      the project and delivery to Sponsor of any final study databases, reports
      or other deliverables as specified in the Project
      Specifications.  If a final payment is specified in a Task
      Order, it will be due within [**] days of Sponsor’s receipt of invoice
      unless Sponsor notifies PRA in writing of any deficiencies in the
      Services.  PRA will correct any such deficiencies within [**]
      days of notice and will resubmit the final invoice to Sponsor immediately
      upon final shipment of the corrected project
    deliverable(s).

            

    

    

    
      	
               
      

            	
              b.

            	
              All
      invoices under this Agreement will be forwarded to the Sponsor
      representative designated in the relevant Task
  Order.

            

    

    

    
      	
               
      

            	
              c.

            	
              All
      payments under this Agreement will be remitted to the PRA affiliate named
      in the Task Order, to the address and in the manner set forth in the
      Payment Schedule of the applicable Task
Order.

            

    

    

    
      	
              3.5

            	
              Payment
      Terms

            

    

    

    Sponsor
agrees to pay for Services and pass-through expenses in accordance with the
Payment Schedule outlined in each Task Order or associated
Amendment.  Sponsor will pay for all Services, pass-through expenses
and other correctly invoiced items within [**] days of receipt of
invoice.  All payments will be made in the currency noted in the
Payment Schedule of the Task Order.  All fees for Services and
pass-through expenses are exclusive of VAT (including non-refundable VAT), local
taxes, charges or remittance fees, which Sponsor will pay when
applicable.  PRA reserves the right to charge interest against any
unpaid overdue balance a the rate of [**] percent ([**]%) per month, except
against amounts reasonably withheld by Sponsor due to PRA’s failure to provide
Services in accordance with the applicable Task Order.

     

    
      
        
          
            	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
              3.6

            	
              Project
      Delays

            

    

    

    
      	
               
      

            	
              a.

            	
              Postponement
      of Early Development Services is addressed in Exhibit A-1 attached
      hereto.

            

    

    

    
      	
               
      

            	
              b.

            	
              For
      product registration studies, in the event that Sponsor requests temporary
      cessation of work due to clinical holds imposed by regulatory authorities
      or any other reason, Sponsor agrees that certain activities, such as site
      maintenance and database maintenance, may continue during the delay and
      Sponsor will pay the expenses associated with this
      maintenance.  In addition, during the period of delay, Sponsor
      will have the option to request that PRA hold the Key Personnel, for up to
      [**] days, so that they remain available to re-initiate work immediately
      upon notice by Sponsor.  During such period, Sponsor will pay to
      PRA a monthly fee equal to the [**].  In the event of a project
      delay where Sponsor does not agree to hold the Key Personnel, PRA may
      re-assign the staff to other
projects.

            

    

    

    
      	
               
      

            	
              c.

            	
              The
      Parties will cooperate with one another in fulfilling their respective
      obligations under this Agreement and each Task Order issued hereunder. The
      Parties agree that, in certain instances, timely and complete performance
      depends upon cooperation between PRA and Sponsor. Therefore, in the event
      PRA does not meet a Milestone which is attributable
  to:

            

    

    

    
      	
               
      

            	
              i.

            	
              Any
      event or circumstance described in Section 2.2(a);
  or

            

    

    

    
      	
               
      

            	
              ii.

            	
              Sponsor’s
      failure to cooperate with PRA in the performance of Services undertaken by
      PRA within the timelines and budget provided for in the affected Task
      Order; or

            

    

    

    
      	
               
      

            	
              iii.

            	
              Sponsor’s
      failure to perform its obligations under this Agreement, or any affected
      Task Order,

            

    

    

    then PRA
will not be accountable for such delay and the Parties will make appropriate
modifications to the Project Specifications, Project Schedule, Budget for
Services and/or Pass-Through Budgets attached to the affected Task Order,
pursuant to Section 2.2.

    

    
      	
              3.7

            	
              Currency
      Management.

            

    

    The
Parties agree that neither should receive a material benefit or detriment from
currency exchange rate fluctuation between the currencies in which costs are
incurred, and the currencies for pricing or invoicing and payment.

     

    
      
        
          
            	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    a. Fees
for Services.  Sponsor acknowledges that, due to fluctuations in
currency exchange rates, PRA’s actual fees may be greater or lesser than the
budgeted amounts contained in a Task Order.  If the fees for Services
in currencies other than the currency used in the Budget for Services exceed
$[**] PRA may calculate a foreign currency exchange adjustment.

    

    b.
Expenses. For pass-through expenses and investigator payments, conversion from
the currency in which the payment is made to the contract currency will occur at
the time the transaction is processed using daily exchange rates provided by
TheFinancials.com. These transaction dates and exchange rates used will be
provided with each invoice for pass through expenses and upon request for
investigator payments.

    

    c. In
Early Development Services the Study budget will be agreed upon in the currency
of the country where the Study will be performed, provided however, if an
exchange rate fluctuation mechanism is applicable the mechanism will be set out
in the Task Order.

    

    
      	
              4.0

            	
              Term
      and Termination

            

    

    

    
      	
              4.1

            	
              Term

            

    

    

    Unless
earlier terminated according to Section 4.2, 4.3, or 4.4 below, this Agreement
will remain in effect for an initial term of two (2) years from the Effective
Date, and thereafter will renew automatically for successive terms of one (1)
year unless either party notifies the other party of termination of the
Agreement no later than sixty (60) days prior to renewal hereof.  In
the event of non-renewal by either party, the term of this Agreement applicable
under any outstanding Task Order will continue until completion of the Services
described in such Task Order or appropriate termination of the Task
Order.

    

    
      	
              4.2

            	
              Termination
      without Cause

            

    

    

    The
Sponsor may terminate the Agreement or any Task Order issued hereunder pursuant
to CCMO Guidelines 2009 and upon sixty (60) days written notice to PRA. Should
Sponsor terminate this Agreement or a Task Order without cause, the termination
process and associated fees will be as follows:

    

    
      	
               
      

            	
              a.

            	
              Sponsor
      and PRA will meet within thirty (30) days of PRA’s receipt of such
      termination notice to develop a plan for (a) closing down administration
      of this Agreement or (b) closing down the Study which is the subject of
      the terminated Task Order, which will include transferring any remaining
      tasks or other responsibilities to Sponsor or its
  designee.

            

    

    

    
      	
               
      

            	
              b.

            	
              Sponsor
      will pay five (5%) of the remaining unpaid total Budget for Services
      attached to the terminated Task Order, or such other amount as is
      specified in a Task Order, as a termination fee for early termination of a
      Task Order provided that in no instance shall such amount be in excess of
      $[**] U.S.D. Any and all deposits previously paid by Sponsor shall be
      returned to Sponsor within [**] days of such
  termination.

            

    

    
       

      
        
          
            
              	 	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
               
      

            	
              c.

            	
              In
      addition to the termination fee described in this Section, Sponsor will
      also pay to PRA the actual costs incurred in providing the Services and
      the pass-through expenses incurred in the performance of the terminated
      Task Order, as well as the actual costs and the pass-through expenses
      incurred in the course of winding down or closing out the terminated Task
      Order.

            

    

    

    
      	
              4.3

            	
              Termination
      by Sponsor for Cause

            

    

    

    Failure
of PRA to comply with any of the material terms or conditions of this Agreement
or any Task Order will entitle Sponsor to give written notice of default via
certified/return receipt mail or overnight courier to ensure receipt by
PRA.  If PRA does not cure the default within [**] days of receipt of
notice (or for such reasonable amount of time thereafter if the default is not
susceptible of cure within [**] days), this Agreement may be terminated by
Sponsor, which will not be obligated to pay the early termination fees pursuant
to Section 4.2 above.  Provided, however, that Sponsor will pay PRA
for all Services rendered and pass-through expenses incurred pursuant to this
Agreement or any terminated Task Order.  Assuming termination is not
based upon PRA’s failure to comply with any of the material terms or conditions
of this Agreement or any Task Order, Sponsor will also pay for Services and
pass-through expenses necessary to conduct an orderly winding down of the
administration of this Agreement, or any terminated Task Order, which amount
will not exceed the remaining unpaid balance of the Budget for Services of the
Task Order, unless special circumstances warrant otherwise.  As soon
as practicable following receipt of notice of termination under this Section
4.3, PRA will submit an itemized accounting of pass-through expenses and costs
incurred, costs anticipated, and payments received in order to determine a
balance to be paid by either party to the other.  Such balance will be
paid by Sponsor within [**] days of completion of work. Any and all advance
payments previously paid by Sponsor and not used by PRA shall be returned to
Sponsor within [**] days of such termination.

    

    
      	
              4.4

            	
              Termination
      by PRA for Cause

            

    

    

    Failure
of Sponsor to comply with any of the material terms or conditions of this
Agreement or to respond to PRA’s inquiries or requests for information will
entitle PRA to give written notice of default via certified/return receipt mail
or overnight courier to ensure receipt by Sponsor.  If Sponsor does
not cure the default within [**] days of receipt of notice (or for such
reasonable amount of time thereafter, if the default is not susceptible of cure
within [**] days), this Agreement may be terminated by PRA, which will cease
performance of Services.  The cessation of Services in accordance with
this Section will not be a default of performance obligations by PRA, nor will
it be a breach of this Agreement or any Task Order.  Sponsor will pay
to PRA all amounts due and owing for Services performed, pass-through expenses
incurred, costs associated with winding down activities and the early
termination fee, described in Section 4.2 above, as well as any late fees which
may be due, pursuant to Section 3.5 above.

    
       

      
        
          
            
              	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

    

    

    If in the
reasonable assessment of PRA, its continued performance of the Services
contemplated by this Agreement or any Task Order could constitute a potential or
actual violation of legal, regulatory, ethical or scientific standards, then PRA
may terminate this Agreement or any Task Order by giving written notice stating
the effective date (which may not be less than sixty [60] days from the notice
date) of such termination.  The parties shall use all reasonable
efforts to rectify the alleged violation prior to the end of the sixty (60) day
notice period.

    

    
      	
              4.5

            	
              Termination
      for Other Reasons

            

    

    

    Either
party may terminate this Agreement and all Task Orders hereunder, effective
immediately upon written notice to the other party, if the other party: (i)
files a voluntary petition in bankruptcy or has an involuntary bankruptcy
petition filed against it, which is not dismissed within thirty (30) days after
its institution, (ii) is adjudged as bankrupt, (iii) becomes insolvent,
(iv) has a receiver, trustee, conservator or liquidator appointed for all or a
substantial part of its assets, (v) ceases to do business, (vi) commences any
dissolution, liquidation or winding up, or (vii) makes an assignment of its
assets for the benefit of its creditors.

    

    
      	
              4.6

            	
              Survival

            

    

    

    Expiration
or termination of this Agreement will not relieve the Parties of any obligation
accruing prior to such expiration or termination.  In addition, the
Sections on Payment, Term and Termination, Representations and Warranties,
Debarment Certification, Disposition of Computer Files and Study Materials,
Ownership and Confidentiality, Indemnification, and Employees as well as any
other sections which by their nature should survive, will survive expiration or
termination of this Agreement for ten (10) years.

    

    
      	
              5.0

            	
              Representations
      and Warranties

            

    

    

    
      	
              5.1

            	
              Acknowledgments

            

    

    

    Sponsor
acknowledges and agrees that the results of the Services to be provided
hereunder are inherently uncertain and that, accordingly, there can be no
assurance, representation or warranty by PRA that the drug, compound, device or
other material which is the subject of research covered by this Agreement or any
Task Order issued hereunder can, either during the term of this Agreement or
thereafter, will be successfully developed or, if so developed, will receive the
required approval by the United States Food and Drug Administration (“FDA”) or
other regulatory authority.

    

    5.2           Mutual
Representations

    

    Each of
the Parties represents, warrants and covenants to the other that: (a) it is a
corporation duly incorporated, validly existing and in good standing; (b) it has
taken all necessary actions on its part to authorize the execution, delivery and
performance of the obligations undertaken in this Agreement, and no other
corporate actions are necessary with respect thereto; (c) it is not a party to
any agreement or understanding and knows of no law or regulation that would
prohibit it from entering into and performing this Agreement; (d) when executed
and delivered by it, this Agreement will constitute a legal, valid and binding
obligation of it, enforceable against it in accordance with this Agreement’s
terms; (e) it is duly licensed, authorized or qualified to do business and is in
good standing in every jurisdiction in which a license, authorization or
qualification is required for it to perform its obligations under this
Agreement; (f) it will perform its obligations hereunder in accordance with
current industry standards, the terms of this Agreement and any Task Order
issued hereunder; (g) it will perform its obligations hereunder in accordance
with all applicable federal, international, state or local law or regulation;
(h) performance of its obligations hereunder will not infringe or violate the
rights of any third party including but not limited to property, contractual,
employment, trademark, trade
secrets, copyright, patent, proprietary information and non-disclosure rights;
and (i) it will not enter into any other agreements which would interfere or
prevent performance of the obligations described herein.

     

    
      
        
          
            	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
              5.3

            	
              Representations
      and Warranties of Sponsor

            

    

    

    
      	
               
      

            	
              a.

            	
              Sponsor
      represents and warrants that it has the right, title and interest in the
      drug, compound, device or other material which is the subject of research
      covered by this Agreement or any Task Order (whether such right, title and
      interest is held solely by Sponsor or jointly with others) and that it has
      the legal right, authority and power to enter into this Agreement, and to
      perform any clinical trial which is the subject of a Task Order issued
      hereunder.

            

    

    

    
      	
               
      

            	
              b.

            	
              If
      Sponsor requires PRA to use MedDRA to code, analyze or report data for a
      Study, Sponsor represents and warrants that it has a current and valid
      license agreement with the Maintenance and Support Services Organization
      (“MSSO”) to use MedDRA.  Furthermore, if PRA is required to use
      WHO Drug, WHO Herbal or WHO ART for coding of data, Sponsor warrants and
      represents that it has a current and valid license agreement with The
      Uppsala Monitoring Centre for the dictionaries which PRA will be required
      to use.  If Sponsor does not currently have such licenses, it
      represents and warrants that such licenses will be in place prior to PRA’s
      delivery of data which is coded using these dictionaries. PRA will not be
      liable to Sponsor for use of data coded without proper licensing, and
      Sponsor will hold PRA harmless in these
  occasions.

            

    

    

    
      	
               
      

            	
              c.

            	
              Sponsor
      further warrants and represents that for any software application,
      computer system or program that is required to be used by PRA in the
      performance of Services to which PRA does not hold a license at the
      commencement of this Agreement or the relevant Task Order, Sponsor will
      have acquired and will maintain current and valid licenses which are
      necessary for the use of such applications or programs, and that PRA’s use
      of such applications or programs will not subject PRA to any liability for
      such use.

            

    

    

    
      	
              5.4

            	
              Representations
      and Warranties of PRA

            

    

    

    
      	
               
      

            	
              a.

            	
              PRA
      represents and warrants that the personnel assigned to perform Services
      rendered under this Agreement will be capable professionally. PRA
      represents and warrants that the Services provided under this Agreement
      will be of commercially reasonable quality in accordance with any
      specifications or requirements set forth in a Task Order and will be
      performed in a professional, diligent and safe manner in accordance with
      industry standards.

            

    

    
       

      
        
          
            
              	 
      	
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                  Master Agreement for Clinical Trials Management
      Services       
  

                
	
                  IDENIX PHARMACEUTICALS,
      Inc.        

                
	 
      

        

      

    

    

    
      	
               
      

            	
              b.

            	
              PRA
      further represents and warrants that it will make available to Sponsor or
      to the responsible regulatory authority relevant records, programs, and
      data as may be reasonably requested by Sponsor for purposes related to
      filing and prosecution of Sponsor's related new drug
      applications.

            

    

    

    
      	
               
      

            	
              c.

            	
              PRA's sole obligation
      for material breach of a representation and warranty set out in this
      Section will be to correct or replace that portion of the Services that
      fails to materially conform
thereto.

            

    

    

    
      	
               
      

            	
              d.

            	
              On [**] basis PRA shall
      submit to Sponsor financial statements, including but not limited to, a
      balance sheet, a statement of operations and a statement of cash flows and
      all notes thereto (the "Statements").  The Statements shall be
      audited and such proof of audit shall be provided to Sponsor. 
      Sponsor shall review such Statements and return them to PRA within
      [**] days
      of receipt.  The Statements are considered PRA Information and
      subject to the provisions of Section 10.2
  below.

            

    

    

    5.5           No
Other Warranties

    

    The
parties’ warranties and representations contained in this Agreement are in lieu
of all other warranties expressed or implied.

    

    
      	
              6.0

            	
              Debarment
      Certification

            

    

    
      	
               
      

            	
              a.

            	
              PRA
      certifies that it has not been debarred under Section 306 of the Federal
      Food, Drug, and Cosmetic Act, 21 U.S.C. §335a(a) or
      (b) or any equivalent local law or regulation.  In the event
      that PRA becomes debarred, PRA agrees to notify Sponsor
      immediately.

            

    

    

    
      	
               
      

            	
              b.

            	
              PRA
      certifies that it has not and will not use in any capacity the services of
      any individual, corporation, partnership, or association which has been
      debarred under Section 306 of the Federal Food, Drug and Cosmetic Act, 21
      U.S.C §335a (a) or
      (b) or any equivalent local law or regulation.  In the event
      that PRA becomes aware of or receives notice of the debarment of any
      individual, corporation, partnership, or association providing services to
      PRA, which relate to the Services being provided under this Agreement, PRA
      agrees to notify Sponsor
immediately.

            

    

    
       

      
        
          
            
              	 
      	
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                  Master Agreement for Clinical Trials Management
      Services       
  

                
	
                  IDENIX PHARMACEUTICALS,
      Inc.        

                
	 
      

        

      

    

     

    
      	
              7.0

            	
              Inspections

            

    

    

    
      	
              7.1

            	
              Inspection
      by Sponsor

            

    

    

    During
the term of this Agreement, PRA will permit representatives of Sponsor who are
not competitors of PRA to examine, at a reasonable time during normal business
hours and subject to at least [**] days prior written notice to PRA: (i) the
facilities where the Services are being, will be or have been conducted; (ii)
instrumentation and procedures being used by PRA to complete any Task Order;
(iii) related study documentation, the data generated for a Task Order,
including notes, schedules, written reports or other work product which may
document work done and results achieved, as well as quality assurance records;
and (iv) any other relevant information necessary for Sponsor to confirm that
the Services are being or will be or have been conducted in conformance with
applicable standard operating procedures, the specific Task Orders, this
Agreement and in compliance with applicable laws and regulations.  PRA
will provide copies of any materials reasonably requested by Sponsor during such
inspection.

    

    
      	
              7.2

            	
              Inspection
      by Regulatory Authorities

            

    

    

    During
the term of this Agreement, each party will permit regulatory authorities to
examine, (i) the facilities where the Services are being conducted; (ii) study
documentation; and (iii) any other relevant information, including information
that may be designated by one or both of the Parties as confidential, reasonably
necessary for regulatory authorities to confirm that the Services are being
conducted in compliance with applicable laws and regulations.  Each
party will immediately notify the other if any regulatory authority schedules,
or without scheduling, begins an inspection that relates to the Services or the
Parties’ respective obligations hereunder.

    

    If any
one of Sponsor’s Task Orders is the subject of any part of an inspection,
Sponsor shall be informed of the inspection immediately, and shall be accorded
the opportunity to be present for such inspection, if time
permits.  If the regulatory agency issues a written inspectional
observation of PRA’s facilities or its general laboratory practices, which may
be involved in the Services, or on any part of a Sponsor’s Task Order, a copy of
this written observation along with PRA’s response will be provide to Sponsor
immediately.

    

    
      	
              7.3 

            	
              Inspections
      of Trial Site(s) by PRA

            

    

    

    In
connection with PRA’s provision of Services as specified in this Agreement and
any associated Task Order, PRA may conduct monitoring visits and/or inspections
of Trial Sites.  Based on PRA’s observations during such Trial Site
visits and inspections, PRA may decide: (i) that enrollment should be suspended
at the Trial Site; (ii) that a Trial Site’s non-compliance needs to be reported
to Sponsor and/or regulatory authorities; and/or (iii) Trial Site’s
participation in a Study needs to be terminated.  Upon such a
determination, PRA will present to Sponsor a basis for its decision. If Sponsor
disagrees with the basis for PRA’s decision, PRA will assign its contract with
the Trial Site to Sponsor and Sponsor agrees to accept such assignment and to be
responsible for all contractual duties and obligations to the Trial
Site.

    

    
      	
              8.0

            	
              Disposition
      of Computer Files and Study
Materials

            

    

    

    PRA will
take reasonable and customary precautions, including periodic backup of computer
files, to prevent the loss or alteration of Sponsor's study data, documentation,
and correspondence.  In no event shall PRA dispose of any data or
other information obtained or generated in the course of providing the Services
hereunder without giving Sponsor [**] days’ prior written notice of its intent
to do so.  Upon termination of this Agreement, and notice to Sponsor
PRA will dispose of Sponsor computer-stored files and study materials according
to PRA's internal standard operating procedures; with evidence of destruction
provided to Sponsor. Sponsor may communicate any special request for the
disposition of materials in writing to PRA.  Sponsor will bear all
costs incurred by PRA in complying with any such written instructions furnished
by Sponsor.  PRA will provide a written estimate to Sponsor, and
Sponsor will provide written approval, of all such costs prior to any action by
PRA.

    
       

      
        
          
            
              	 
      	
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                  Master Agreement for Clinical Trials Management
      Services       
  

                
	
                  IDENIX PHARMACEUTICALS,
      Inc.        

                
	 
      

        

      

    

    

    
      	
              9.0

            	
              Ownership
      of data and intellectual property

            

    

    

    All data
(including without limitation, written, printed, graphic, video and audio
material, and information contained in any computer database or computer
readable form) generated by PRA in the course of conducting the Services (the
“Data”) and related to the Services will be Sponsor’s property.  Any
copyrightable work created in connection with performance of the Services and
contained in the Data will be considered work made for hire, whether published
or unpublished, and all rights therein will be the property of Sponsor as
employer, author and owner of copyright in such work.

    

    PRA
understands and agrees that the underlying rights to the intellectual property
and materials that are the subject of each Task Order, including, without
limitation, all intellectual property rights in Sponsor’s drug candidates or
products, are owned solely by Sponsor.  Neither PRA, its Affiliates
nor any of their respective Subcontractors will acquire any rights of any kind
whatsoever with respect to Sponsor’s drug candidates or products as a result of
conducting Services hereunder.  All rights to any know-how, trade
secrets, developments, discoveries, inventions or improvements (whether or not
patentable) conceived or reduced to practice in the performance of work
conducted under this Agreement by PRA’s or its Affiliates’ employees, or
independent contractors, either solely or jointly with employees, agents,
consultants or other representatives of Sponsor (the “Intellectual Property”),
will be owned solely by Sponsor.  PRA, its Affiliates and their
respective employees and Subcontractors will sign and deliver to Sponsor all
writings and do all such things as may be necessary or appropriate to vest in
Sponsor all right, title and interest in and to such Intellectual
Property.  PRA will promptly disclose to Sponsor any such Intellectual
Property arising under this Agreement.  Sponsor may, in its sole
discretion, file and prosecute in its name and at its expense, patent
applications on any patentable inventions within the Intellectual
Property.  Upon the request of Sponsor, and at the sole expense of
Sponsor, PRA will assist Sponsor in the preparation, filing and prosecution of
such patent applications and will execute and deliver any and all instruments
necessary to effectuate the ownership of such patent applications and to enable
Sponsor to file and prosecute such patent applications in any
country.

    

    Notwithstanding
the foregoing, Sponsor agrees that PRA possesses or may in the future possess
analytical methods, computer technical expertise and software, which have been
independently developed by PRA and which will remain the sole and exclusive
property of PRA, except to the extent that improvements or modifications
include, incorporate or are based upon Sponsor's information. Improvements or
enhancements made to PRA’s processes or methods which are independently
developed incidental to the provision of Services hereunder will remain the sole
property of PRA. Sponsor may use this information of PRA free of charge for
interpretation purposes or regulatory authorities’ purposes or for any purposes
that are appropriate within the scope of this Agreement. Any improvement on
information of Sponsor will remain the sole property of Sponsor.

     

    
      
        
          
            	 
      	
                    CONFIDENTIAL

                  	
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      16 of 41

                  

          

        

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
       

      
        
          
            	
                    

                  	
                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
              10.0 

            	
              Confidential
      Information

            

    

    

    
      	
              10.1

            	
              Sponsor
      Confidential Information

            

    

    

    
      	
               
      

            	
              a.

            	
              Sponsor
      may disclose confidential information to PRA during the course of this
      Agreement.  All information provided by or on behalf of Sponsor
      or data collected by PRA during the performance of the Services is deemed
      to be the confidential information of Sponsor and is hereinafter referred
      to as “Sponsor Information”.  PRA will not disclose Sponsor
      Information to any person other than its employees, agents, Investigators,
      Trial Sites and independent contractors involved in the Services or use
      any such information for any purpose other than the performance of
      Services without the prior written consent of
  Sponsor.

            

    

    

    
      	
               
      

            	
              b.

            	
              PRA
      will ensure that it and its Affiliates’ employees, agents, Investigators,
      Trial Sites and independent contractors involved in the Services will
      comply with terms substantively similar to the confidentiality provisions
      of this Agreement.  PRA will disclose only the Sponsor
      Information to those of its employees, agents, Investigators, Trial Sites
      and independent contractors who reasonably need to know the Sponsor
      Information.  PRA further agrees to take all practicable steps
      to ensure that the Sponsor Information will not be used by its directors,
      officers or employees, except on like terms of confidentiality as
      aforesaid, and will be kept fully private and confidential by
      them.

            

    

    

    
      	
               
      

            	
              c.

            	
              PRA
      will exercise due care to prevent the unauthorized disclosure and use of
      Sponsor Information associated with the Services.  PRA agrees
      that it will use any Sponsor Information only for purposes of providing
      Services to Sponsor hereunder and for no other purpose without the prior
      written consent of Sponsor.

            

    

    

    
      	
               
      

            	
              d.

            	
              This
      confidentiality, nondisclosure and nonuse provision will not apply to
      Sponsor Information that PRA can demonstrate by competent
      evidence:

            

    

    

    
      	
               
      

            	
              i.

            	
              was
      known by PRA before initiation of the Services or which is independently
      discovered, after the initiation of the Services, without the aid,
      application or use of Sponsor Information, as evidenced by written
      records;

            

    

    

    
      	
               
      

            	
              ii.

            	
              was
      in the public domain at the initiation of the Services or subsequently
      became publicly available through no fault or action of PRA;
      or

            

    

    

    
      	
               
      

            	
              iii.

            	
              was
      disclosed to PRA on a non-confidential basis by a third party authorized
      to disclose it.

            

    

     

    
      
        
          
            	 
      	
                    CONFIDENTIAL

                  	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
               
      

            	
              e.

            	
              In
      no event will either party be prohibited from disclosing confidential
      information of the other party to the extent required by law to be
      disclosed, provided that the disclosing party provides the non-disclosing
      party with written notice thereof, prior to disclosure, to the extent
      reasonably practicable, discloses only what is required to be disclosed by
      law or regulation, and, at the non-disclosing party’s request and expense,
      cooperates with the non-disclosing party’s efforts to obtain a protective
      order or other confidential treatment of the confidential information
      required to be disclosed.

            

    

    

    
      	
               
      

            	
              f.

            	
              Subject
      to CCMO Guidelines 2009, PRA shall not publish any articles or make any
      presentations relating to the Services, Sponsor Information or referring
      to data generated as part of the Services, in whole or in part, without
      the prior written consent of
Sponsor.

            

    

    

    
      	
              10.2

            	
              PRA
      Confidential Information

            

    

    

    Sponsor
agrees that all business processes, contract terms, prices, procedures,
policies, methodologies, systems, computer programs, software, applications,
databases, proposals and other documentation generally used by PRA and not
developed solely for Sponsor are the exclusive proprietary and confidential
property of PRA (hereinafter “PRA Information”) or the third parties from whom
PRA has secured the right of use.  Sponsor agrees that all PRA
Information, along with any improvement, alteration or enhancement made thereto
during the course of the Services, will be the exclusive proprietary and
confidential property of PRA, and will be subject to the same degree of
protection as is required of PRA to protect Sponsor Information.

    

    
      	
              10.3

            	
               

            	
              Return or Destruction of
      Information

            

    

    

    At the
conclusion of a Study, PRA will deliver to Sponsor all Sponsor Information in
its possession unless Sponsor directs otherwise.  Upon the written
request of the Sponsor, PRA shall either destroy; with evidence of destruction
provided to Sponsor or return to the Sponsor the Sponsor
Information.  PRA shall use all reasonable efforts to destroy all
notes, summaries, analyses and reports made by PRA’s employees, agents and
consultants containing such Sponsor Information.  Provided, however,
that PRA shall be entitled to retain in confidence under this Agreement,
including without limitation Paragraph 2: (i) one (1) archived copy of Sponsor
Information and all materials created by PRA and containing Sponsor Information,
including without limitation notes and memoranda, solely for the purpose of
administering PRA’s obligations under this Agreement; and (ii) Sponsor
Information contained in PRA’s electronic back-up files that are created in the
normal course of business pursuant to PRA’s standard protocol for preserving its
electronic records.

    

    
      	
              11.0

            	
              Publicity

            

    

    

    Sponsor
may use, refer to and disseminate reprints of scientific, medical and other
published articles which disclose the name of PRA consistent with applicable
international copyright laws, provided such use does not constitute an
endorsement of any commercial product or service by PRA.  Neither
party will disclose publicly or utilize in any advertising or promotional
materials or media the existence of this Agreement or its association with the
other, or use of the other party’s name or the name of any of the other party’s
Affiliates, divisions, subsidiaries, products or investigations without the
prior written permission of the other party.  Further, either party
may make such public disclosures as it determines, based on advice of counsel,
are reasonably necessary to comply with laws or regulations.

    
       

      
        
          
            
              	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
              12.0

            	
              Indemnification

            

    

    

    
      	
              12.1

            	
              Sponsor’s
      Agreement

            

    

    

    
      	
               
      

            	
              a.

            	
              Sponsor
      will indemnify, defend and hold harmless PRA, its Affiliates, and their
      officers, directors, agents, employees, and independent contractors
      approved by Sponsor (each an “Indemnitee”) against any claim, suit,
      action, proceeding, arbitration or investigation, pending or threatened by
      a third party (each a “Claim”) against Indemnitees based on, relating to
      or in connection with the Services and other work conducted under this
      Agreement, including but not limited to court costs, reasonable legal
      fees, awards or settlements.  PRA will promptly notify Sponsor
      upon receipt of notice of any Claim (provided that the failure to give
      such notice will not relieve Sponsor of its obligations under this Section
      except to the extent, if at all, it is prejudiced thereby) and will permit
      Sponsor's attorneys and personnel, at Sponsor's discretion and cost, to
      handle and control the defense of any such Claim.  In the event
      that representation of PRA and Sponsor by the same counsel is a conflict
      of interest for such counsel, PRA may select its own independent counsel,
      at Sponsor’s expense, without relieving Sponsor of its obligations under
      this Section.

            

    

    

    
      	
               
      

            	
              b.

            	
              Under
      no circumstances, however, will Sponsor accept liability, settle or
      otherwise compromise any Claims without prior written consent of
      PRA.  PRA will fully cooperate and aid in any such
      defense.

            

    

    

    
      	
               
      

            	
              c.

            	
              Sponsor
      will not indemnify, defend, or hold harmless PRA against any Claim to the
      extent that such Claim arose as a result of PRA’s negligence, bad faith,
      recklessness, intentional misconduct or material breach of this Agreement
      or any Task Order hereunder, or failure to act on the part of Sponsor, its
      subsidiaries, employees, agents, or subcontractors during the term of this
      Agreement.  Under such circumstances PRA will repay to Sponsor
      all reasonable defense costs incurred by Sponsor on its
      behalf.

            

    

     

    
      	
              12.2

            	
              PRA’s
      Agreement

            

    

    

    
      	
               
      

            	
              a.

            	
              PRA
      will indemnify, defend and hold harmless Sponsor and its employees,
      officers, and directors against any and all losses, costs, expenses and
      damages, including but not limited to reasonable attorney’s fees, based on
      a personal injury resulting from PRA’s negligence, intentional misconduct,
      or material breach of this Agreement or any Task Order
      hereunder.  Sponsor will promptly notify PRA upon receipt of
      notice of any claim for which it intends to seek indemnification
      hereunder, provided that the failure to give such notice will not relieve
      PRA of its obligations under this Section except to the extent, if at all,
      it is prejudiced thereby.  Sponsor will permit PRA’s attorneys
      and personnel, at PRA’s discretion and cost, to handle and control the
      defense of any such claim.  In the event that representation of
      Sponsor and PRA by the same counsel is a conflict of interest for such
      counsel, Sponsor may select its own independent counsel, at PRA’s expense,
      without relieving PRA of its obligations under this
    Section.

            

    

     

    
      
        
          
            	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
               
      

            	
              b.

            	
              Under
      no circumstances, however, will PRA accept liability, settle or otherwise
      compromise any claims subject to indemnification under this Section
      without prior written consent of Sponsor.  Sponsor will fully
      cooperate and aid in any such
defense.

            

    

    

    
      	
               
      

            	
              c.

            	
              PRA
      does not agree, and will have no obligation to indemnify, defend or hold
      harmless Sponsor against any claim to the extent that such claim arose as
      a result of Sponsor’s negligence, recklessness, intentional misconduct or
      material breach of this Agreement or any Task Order
      hereunder.  Under such circumstances Sponsor will repay to PRA
      all reasonable defense costs incurred by PRA on its
  behalf.

            

    

    

    
      	
              12.3

            	
              Limits
      of Liability

            

    

    

    PRA's
liability for direct damages hereunder will not exceed two times the total fees
payable by Sponsor to PRA under the applicable Task Order.  In no
event will PRA be liable to Sponsor for any indirect, incidental, special, or
consequential damages or lost profits arising out of or related to its provision
of Services to Sponsor, even if PRA has been advised of the possibility of such
damages, except to the extent that such damages result from the negligence, bad
faith, recklessness or intentional misconduct of PRA, its employees, independent
contractors or agents.

    

    
      	
              12.4

            	
              Insurance

            

    

    

    
      	
               
      

            	
              a.

            	
              Sponsor
      Insurance.  During the term of this Agreement, and for a period
      of [**] following the termination of this Agreement or completion of each
      Task Order, Sponsor shall maintain in full force and effect a policy or
      policies or self-insurance of:

            

    

    

    
      	
               
      

            	
              i.

            	
              general
      liability insurance (with product liability endorsements) with limits of
      not less than [**] Dollars ($[**]);

            

    

    

    
      	
               
      

            	
              ii.

            	
              products
      liability with limits of not less than [**] Dollars ($[**]);
      and

            

    

    

    
      	
               
      

            	
              iii.

            	
              clinical
      trials insurance in compliance with local compulsory
      requirements

            

    

    

    PRA may
from time to time request evidence confirming such insurance.

    

    
      	
               
      

            	
              b.

            	
              PRA
      Insurance.  PRA shall at all times during the term of this
      Agreement and any extended terms thereof, provide and maintain at its own
      expense, the following types of
insurance:

            

    

    

    
      	
               
      

            	
              i.

            	
              Professional
      Liability: Professional Liability covering all professional acts, errors
      and omissions in an amount of not less than [**] Dollars ($[**]) per
      occurrence and in the aggregate.

            

    

     

    
      
        
          
            	 
      	
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                  Master Agreement for Clinical Trials Management
      Services       
  

                
	
                  IDENIX PHARMACEUTICALS,
      Inc.        

                
	 
      

        

      

    

     

    
      	
               
      

            	
              ii.

            	
              General
      Liability: Commercial General Liability insurance against claims for
      bodily injury and property damage in an amount of not less than [**]
      Dollars ($[**]) per occurrence and in the
  aggregate.

            

    

    

    
      	
               
      

            	
              iii.

            	
              Workers
      Compensation and Employers’ Liability: To comply with the statutory
      requirements of the state(s) in which the Services are
      performed.  The policy shall include Employers’ Liability for
      not less than [**] Dollars ($[**]) per
accident.

            

    

    

    
      	
               
      

            	
              c.

            	
              General
      Terms

            

    

    

    
      	
               
      

            	
              i.

            	
              All
      policies shall be issued by one or more insurance companies rated A- VII
      or better by the BEST Rating guide or its
  equivalent.

            

    

    

    
      	
               
      

            	
              ii.

            	
              Such
      insurance may be provided on a claims-made basis (with the exception of
      workers compensation and employers’ liability), however, such insurance
      shall have a retroactive date prior to the date that any work will be
      performed pursuant to the Agreement, and shall be maintained (or shall
      have an extended reporting period) of at least [**] after the termination
      of this Agreement.

            

    

    

    
      	
               
      

            	
              iii.

            	
              In
      the event that such policies are cancelled, terminated or altered, the
      insured party shall endeavor to provide at least thirty (30) days prior
      written notice to the other party.

            

    

    

    
      	
               
      

            	
              iv.

            	
              It
      is agreed and understood that the above limits are minimum required
      amounts and are not limitations of
liability.

            

    

    

    
      	
              13.0

            	
              Independent
      Contractor Relationship

            

    

    

    PRA and
Sponsor are independent contractors.  Nothing in this Agreement will
be construed to create the relationship of partners, joint venturers, or
employer and employee between PRA and Sponsor or PRA's
employees.  Neither party, nor its employees, or independent
contractors will have authority to act on behalf of or bind the other party in
any manner whatsoever unless otherwise authorized in this Agreement or a
specific Task Order or in a separate writing signed by both
Parties.

    

    
      	
              14.0

            	
              Employees

            

    

    

    Neither
party, during the term of this Agreement and for [**] thereafter, will, without
the prior written consent of the other party, directly or indirectly solicit for
employment or contract, attempt to employ or contract with or assist any other
entity in employing, contracting with or soliciting for employment or contract
any employee or executive who is at that time employed/contracted by the other
party and who had been employed/contracted by the other party in connection with
one or more Task Orders issued hereunder.  Provided, however, that the
foregoing provision will not prevent either party from conducting solicitation
via a general advertisement for employment that is not specifically directed to
any such employee or from employing any such person who responds to such
solicitation.

    
       

      
        
          
            
              	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
              15.0

            	
              Notices

            

    

    

    Except as
otherwise provided, all communications and notices required under this Agreement
will be mailed by first class mail or sent via nationally recognized overnight
courier to the addresses set forth below, or to such other addresses as the
Parties from time to time specify in writing.                                                              

    

    
      
        
          
            	If
      to Sponsor:	If
      to PRA:
	 	 
	
                    Idenix
      Pharmaceuticals, Inc.

                  	
                    Pharmaceutical
      Research Associates, Inc.

                  
	
                    60
      Hampshire Street

                  	
                    4130
      ParkLake Avenue

                  
	
                    Cambridge,
      MA 02139

                  	
                    Suite
      400

                  
	
                    USA

                  	
                    Raleigh,
      NC  27612

                  

          

        

      

    

    

    
      	
              16.0

            	
              Force
      Majeure

            

    

    

    If the
performance of this Agreement by PRA or Sponsor is prevented, restricted,
interfered with or delayed (either totally or in part) by reason of any cause
beyond the control of the Parties (including, but not limited to, acts of God,
explosion, disease, weather, war, insurrection, terrorism, civil strike, riots
or extensive power failure), the party so affected will, upon giving notice to
the other party as soon as is practical, be excused from such performance to the
extent of such prevention, restriction, interference or delay, provided that the
affected party will use reasonable efforts to avoid or remove such causes of
non-performance and will continue performance whenever such causes are
removed.

    

    
      	
              17.0

            	
              Governing
      Law

            

    

    

    This
Agreement will be governed in all respects by the laws of the State of Delaware,
United States of America without regard to its conflict of laws
principles.

    

    PRA is
and for the duration of this Agreement shall be in compliance with all federal,
state, local and foreign laws, governmental regulations, rules and requirements
and binding administrative and court orders (collectively "Laws") applicable to
PRA, including all Laws applicable to its provision of the
Services.

    

    
      	
              18.0

            	
              Severability

            

    

    

    If any of
the provisions or a portion of any provision of this Agreement is held to be
unenforceable or invalid by a court of competent jurisdiction, the validity and
enforceability of the enforceable portion of any such provision and/or the
remaining provisions will not be affected thereby.

     

    
      
        
          
            	 
      	
                    CONFIDENTIAL

                  	
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      of 41

                  

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
       

      
        
          
            	
                    

                  	
                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
              19.0

            	
              Assignment

            

    

    

    This
Agreement shall inure to the benefit and be binding upon the successors and
assigns of PRA and the Sponsor.  Sponsor may assign its rights and/or
obligations hereunder without the prior consent of PRA. PRA shall not assign its
rights and/or obligations under this Agreement without the prior written consent
of Sponsor, unless the assignment is in connection with the sale of all or
substantially all of its assets.

    

    
      	
              20.0

            	
              Waiver

            

    

    

    No waiver
of any term, provision or condition of this Agreement whether by conduct or
otherwise in any one or more instances will be deemed to be construed as a
further or continuing waiver of such term, provision or condition or of any
other term, provision or condition of this Agreement.

    

    
      	
              21.0

            	
              Entire
      Agreement

            

    

    

    This
Agreement, including all Exhibits hereto contains the full understanding of the
Parties with respect to the Services and supersedes all existing Agreements and
all other oral, written or other communications between the Parties concerning
the subject matter hereof. This Agreement will not be modified in any way except
in writing and signed by a duly authorized representative of Sponsor and an
authorized officer of PRA.

     

    
      	
              22.0

            	
              English
      Language

            

    

    

    The
Parties hereto confirm that this Agreement as well as any other documents
relating hereto, including notices, have been and shall be drawn up in the
English language only.

    

    
      	
              23.0

            	
              Counterparts

            

    

    

    This
Agreement may be executed in several counterparts, each of which will be deemed
an original (including facsimile counterparts), but all of which will constitute
one and the same instrument.

    

    
      	
              24.0

            	
              Arbitration

            

    

    

    In the
event a dispute relating to this Agreement or any Task Order arises between the
Parties, the Parties will use all reasonable efforts to resolve the dispute
through direct discussions for a period of [**] days.  The senior
management of each party is committed to respond to any such
dispute.  Subsequent to such [**] period either party may, but will
not be required to, resort to binding arbitration procedures.  If
arbitration is being conducted it will take place within the State of
Delaware.

    

    The
undersigned have executed this Agreement as of the day and year noted
below.

     

    
      
        
          
            
              	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      
        
          
            
              
                	
                        Pharmaceutical
      Research Associates, Inc.

                      	 	
                        Idenix
      Pharmaceuticals, Inc.

                      
	 
      	 	 
      
	
                        /s/ Colin Shannon

                      	 	
                        /s/ Douglas L. Mayers

                      
	
                        Name

                      	 	
                        Name

                      
	
                        C.O.O.

                      	 	
                        Exec. VP and CMO

                      
	
                        Title

                      	 	
                        Title

                      
	
                        28 Sept. 2009

                      	 	
                            6 October
      2009

                      
	
                        Date

                      	 	
                        Date

                      

              

            

          

        

      

    

    

    LIST
OF EXHIBITS

    

    
      	
              Exhibit
      A:

            	
              Form
      of Task Order – Product Registration

            
	
              Exhibit
      A-1:

            	
              Form
      of Task Order – Phase I Early Development

            
	
              Exhibit
      A-2:

            	
              Form
      of Task Order – Laboratory Services

            
	
              Exhibit
      B:

            	
              Form
      of Amendment

            

    

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
                      Page 24
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

    

     

    EXHIBIT
A:

    

    FORM
OF TASK ORDER (Product Registration)

     

    Task
Order Number:_____

     

    Sponsor
Project Number: _________

     

    This Task Order is made and entered
into on <Month> <Day>, <Year>, the Effective Date, by and
between Idenix Pharmaceuticals,
Inc., with offices at 60 Hampshire Street, Cambridge, MA 02139, USA
(hereinafter referred to as “Sponsor”) and Pharmaceutical Research Associates,
Inc., a corporation of the Commonwealth of Virginia, with offices at 4130
ParkLake Avenue, Suite 400, Raleigh, NC  27612 (hereinafter referred
to as “PRA”).

    

    WHEREAS, Sponsor and PRA have
entered into that certain Master Agreement for Clinical Trials Management
Services dated the <day> of <month>, 200_ (hereinafter referred to
as the “Master Agreement”); and

    

    WHEREAS, pursuant to the
Master Agreement, PRA has agreed to perform certain Services in accordance with
Task Orders from time to time entered into by the Parties, as more fully
provided in Section 2 of the Master Agreement, and Sponsor and PRA now desire to
enter into such a Task Order.

    

    WHEREAS, PRA and Sponsor
desire that PRA provide certain Services with respect to a
___________________________________________________________, (the “Study”) for
the study of the drug ___________________________ (“Study Drug”) as set out in
the Protocol titled: ________________, which is incorporated herein by
reference.

    

    NOW, THEREFORE, in
consideration of the mutual covenants contained herein, the parties hereby agree
as follows:

    

    1.      Project
Specifications.  PRA will perform the services described in the
Project Specifications, attached hereto as Appendix A, in accordance with the
Project Schedule, attached hereto as Appendix B and any other documents attached
to this Task Order (“Services”).

    

    2.      Compensation.  For
performance of these Services, Sponsor will pay to PRA the amounts described in
the Budget for Services and Pass-Through Budget set forth in Appendix C, which
amounts will be payable pursuant to the Payment Schedule set forth in Appendix
D.

    

    3.      Term and
Termination.  The term of this Task Order will commence upon
its execution by PRA and Sponsor and will continue until completion of the
Services described in Appendix A, provided, however, that either party may
terminate this Task Order in accordance with Section 4, Term and Termination, of
the Master Agreement.

    

    4.      Designated Contact Persons
and Key Personnel.  The PRA Project Manager and Key Personnel
who will oversee the Services in accordance with the Master Agreement are
identified in Appendix E, Designated Contact Persons and Key
Personnel.

    
       

      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
                      Page 25
      of 41

                    

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          
            	
                    

                  	
                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    5.      Incorporation by Reference;
Conflict.  The provisions of the Master Agreement are hereby
expressly incorporated by reference into and made a part of this Task
Order.   In the event of a conflict between the terms and
conditions of this Task Order and those of the Master Agreement, the terms of
the Master Agreement will take precedence and control.

    

    IN WITNESS WHEREOF, the
parties have hereunto signed this Task Order effective as of the day and year
first written above.

    

    
      
        
          
            
              	
                      Pharmaceutical
      Research Associates, Inc.

                    	 	
                      Idenix
      Pharmaceuticals, Inc.

                    
	 
      	 	 
      
	  
      	 	
                       

                    
	
                      Name

                    	 	
                      Name

                    
	 
      	 	
                       

                    
	
                      Title

                    	 	
                      Title

                    
	 
      	 	
                       

                    
	
                      Date

                    	 	
                      Date

                    

            

          

        

      

    

    

    List
of Appendices

    
      	
              Appendix
      A:

            	
              Project
      Specifications

            
	
              Appendix
      B:

            	
              Project
      Schedule

            
	
              Appendix
      C:

            	
              Budget
      for Services and Pass-Through Budget

            
	
              Appendix
      D:

            	
              Payment
      Schedule

            
	
              Appendix
      E:

            	
              Designated
      Contact Persons and Key Personnel
Designation

            

    

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
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      of 41

                    

            

          

        

      

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          
            	
                    

                  	
                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

      EXHIBIT
A-1

    

    

    FORM
OF TASK ORDER (Early Development Services)

     

    Task
Order Number:_____

     

    Sponsor
Project Number: _________

     

    This Task Order is made and entered
into on <Month> <Day>, <Year>, the Effective Date, by and
between Idenix Pharmaceuticals,
Inc., with offices at 60 Hampshire Street, Cambridge, MA 02139, USA
(hereinafter referred to as “Sponsor”) and Pharmaceutical Research Associates,
Inc., a corporation of the Commonwealth of Virginia, with offices at 4130
ParkLake Avenue, Suite 400, Raleigh, NC  27612 (hereinafter referred
to as “PRA”).

    

    WHEREAS, Sponsor and PRA have
entered into that certain Master Agreement for Clinical Trials Management
Services dated the <day> of <month>, 200_ (hereinafter referred to
as the “Master Agreement”); and

    

    WHEREAS, pursuant to the
Master Agreement, PRA has agreed to perform certain Services in accordance with
Task Orders from time to time entered into by the Parties, as more fully
provided in Section 2 of the Master Agreement, and Sponsor and PRA now desire to
enter into such a Task Order.

    

    WHEREAS, PRA and Sponsor
desire that PRA provide certain Services with respect to a
___________________________________________________________, (the “Study”) for
the study of the drug ___________________________ (“Study Drug”) as set out in
the Protocol titled: ________________, which is incorporated herein by
reference.

    

    NOW, THEREFORE, in
consideration of the mutual covenants contained herein, the parties hereby agree
as follows:

    

    1.      Project
Specifications.  PRA will perform the services described in the
Project Specifications, attached hereto as Appendix A, in accordance with the
Project Schedule, attached hereto as Appendix B and any other documents attached
to this Task Order (“Services”).

    

    2.      Compensation.  For
performance of these Services, Sponsor will pay to PRA the amounts described in
the Budget for Services and Pass-Through Budget set forth in Appendix C, which
amounts will be payable pursuant to the Payment Schedule set forth in Appendix
D.

    

    3.      Term and
Termination.  The term of this Task Order will commence upon
its execution by PRA and Sponsor and will continue until completion of the
Services described in Appendix A, provided, however, that either party may
terminate this Task Order in accordance with Section 4, Term and Termination, of
the Master Agreement.

    

    4.      Designated Contact Persons
and Key Personnel.  The PRA Project Manager and Key Personnel
who will oversee the Services in accordance with the Master Agreement are
identified in Appendix E, Designated Contact Persons and Key Personnel
Designation.

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
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      of 41

                    

            

          

        

      

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          
            	
                    

                  	
                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

    

     

    5.      Incorporation by Reference;
Conflict.  The provisions of the Master Agreement are hereby
expressly incorporated by reference into and made a part of this Task
Order.   In the event of a conflict between the terms and
conditions of this Task Order and those of the Master Agreement, the terms of
the Master Agreement will take precedence and control except as specified in
Section 6 Additional Terms below.

    

    
      	
               
      

            	
              6.

            	
               Additional
      Terms.

            

    

    

    (a)           Non-completers
in Early Development Services

    

    In the
event that either (a) PRA withdraws a subject from the Study, or (b) a subject
voluntarily withdraws, for any non drug-related reason after enrolment but
before receiving Study medication, such subject will be considered a
non-completer. Non-completers will be replaced at the costs of PRA.

    

    
      	
              (b)

            	
              Dropouts
      in Early Development Services

            

    

    

    In the
event that a subject is withdrawn from a Study for a drug-related reason, the
subject is considered a dropout. Dropouts will be replaced at the costs of
Sponsor, in case Sponsor deems this necessary. The compensation for a dropout
will include but will not be limited to, the pro rata costs per subject accrued
to the moment of termination. If a dropout will be replaced, the timelines will
be adapted upon mutual written agreement.

    

    (c)           Study
Medication

    

    Any
remaining medication at the end of the clinical phase of the Study will be
retained by PRA for a period of [**] months, after this period upon Sponsor’s
instructions and sole discretion, PRA will either destroy the remaining
medication with evidence of destruction provided to Sponsor, provided however,
PRA will notify the Sponsor at least [**] prior to the date that the medication
is due to be destroyed or if Sponsor requests in writing, the medication will be
sent by PRA to the Sponsor at Sponsor's expense, in compliance with all
applicable laws and regulations and using proper industry standards to ensure a
safe and non-perishable delivery. Storage may be continued by PRA beyond the
specified time at Sponsor's expense and PRA shall take commercially reasonable
precautions to safeguard Test Articles entrusted to PRA’s control.

    

    (d)                 Termination
and Fees.

    

    In the
event this Task Order is terminated by Sponsor before the Study has completed,
the fees to be paid by Sponsor will be calculated according to the chart set out
below; the parties hereby agree that in no event shall such fees exceed $[**]
U.S.D. In the event this fee applies then Section 4.2 (b) of the Master
Agreement will not be applied.

    

    
      
        
          
            	
                    Timing

                  	 
      	
                    Costs

                  
	
                    [**]
      weeks prior to First Subject, First Dosing (FSFD)

                  	 
      	
                    Services
      Performed [**]% of the remaining contract value

                  
	 
      	 
      	 
      
	
                    [**]
      weeks of FSFD

                  	 
      	
                    Services
      Performed [**]% of the remaining contract value

                  
	 
      	 
      	 
      
	
                    During
      Study or within [**] weeks of FSFD

                  	 
      	
                    Services
      Performed [**]% of the remaining contract
value

                  

          

        

      

    

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    Any
amounts received by PRA but not expended for any of the following will be
refunded to Sponsor:

    

    
      	
               
      

            	
              (a)

            	
              any
      fees for subjects that have not been
recruited;

            

    

    
      	
               
      

            	
              (b)

            	
              any
      travel expenses where not incurred;

            

    

    
      	
               
      

            	
              (c)

            	
              any
      food and beverage expenses;

            

    

    
      	
               
      

            	
              (d)

            	
              any
      charges for lab tests or supplies not taken;
  and

            

    

    
      	
               
      

            	
              (e)

            	
              any
      other charge deemed to be pass through that with reasonable notice can be
      cancelled.

            

    

    

    (e)           Postponement

    

    If
Sponsor wishes to postpone this Study, all of the terms and fees set out in this
Agreement will apply, provided, however, that if PRA is able to reschedule the
Study at a time which is acceptable to Sponsor, it will not be required to pay
for the actual costs incurred, to the extent that the deliverables or services
are applicable to the postponed study.

    

    Upon
postponement of this Study, or part of this Study, PRA will calculate the
compensation to be paid by Sponsor as a price [**]; the total Clinical value
divided by [**]. The parties hereby agree that in no event shall such
postponement fees exceed in the aggregate $[**] U.S.D.

    

    
      
        
          
            	
                    Timing

                  	 
      	
                    Costs

                  
	
                    4-6
      weeks

                  	 
      	
                    [**]

                  
	
                    2-4
      weeks

                  	 
      	
                    [**]

                  
	
                    0-2
      weeks

                  	 
      	
                    [**]

                  

          

        

      

    

    

    A
postponement fee will never be higher than a cancellation fee.

    

    (f)           Data Protection [Only EU: Delete this clause if PRA
does not act as data controller or processor]

    

    Company
will act as Sponsor’s authorized representative in the Netherlands for the
purposes of Article 4(2) of the Data Protection Directive 95/46/EC, as amended
from time to time, and as evidenced by the letter of appointment at Appendix
F.

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

    

     

    (g)           Legal Representative [Only EU: Delete this clause if PRA
does not act as legal representative]

    

    The role
of Sponsor is transferred to PRA by Sponsor, pursuant to the terms of Directive
2001/20/EC and 2001/83/EC of the European Parliament and of the Council of 4
April 2001 on the approximation of the laws, regulations and administrative
provisions of the Member states relating to the implementation of good clinical
practice in the conduct of clinical trials on medicinal products for human
use.  The conditions under which PRA accepts this designation are set
forth in Appendix F, attached hereto and incorporated herein by
reference.

    

    IN WITNESS WHEREOF, the
parties have hereunto signed this Task Order effective as of the day and year
first written above.

    

    
      
        
          
            
              	
                      Pharmaceutical
      Research Associates, Inc.

                    	 	
                      Idenix
      Pharmaceuticals, Inc.

                    
	 
      	 	 
      
	 
      	 	
                       

                    
	
                      Name

                    	 	
                      Name

                    
	 
      	 	
                       

                    
	
                      Title

                    	 	
                      Title

                    
	 
      	 	
                       

                    
	
                      Date

                    	 	
                      Date

                    

            

          

        

      

    

    

    List
of Appendices

    
      	
              Appendix
      A:

            	
              Project
      Specifications

            
	
              Appendix
      B:

            	
              Project
      Schedule

            
	
              Appendix
      C:

            	
              Budget
      for Services and Pass-Through Budget

            
	
              Appendix
      D:

            	
              Payment
      Schedule

            
	
              Appendix
      E:

            	
              Designated
      Contact Persons and Key Personnel
Designation

            

    

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    ATTACHMENT
A -2:

    FORM
OF TASK ORDER Laboratory Services

     

    Task
Order Number:_____

     

    Sponsor
Project Number: _________

     

    This Task Order is made and entered
into this <day> day of <month>, 200_, by and between Idenix Pharmaceuticals, Inc.,
with offices at 60 Hampshire Street, Cambridge, MA 02139, USA (hereinafter
referred to as “Sponsor”) and Pharmaceutical Research Associates,
Inc., a corporation of the Commonwealth of Virginia, with offices at 4130
ParkLake Avenue, Suite 400, Raleigh, NC  27612 (hereinafter referred
to as “PRA”).

    

    WHEREAS, Sponsor and PRA have
entered into that certain Master Agreement for Clinical Trials Management
Services dated the <day> of <month>, 200_ (hereinafter referred to
as the “Master Agreement”); and

    

    WHEREAS, pursuant to the
Master Agreement, PRA has agreed to perform certain Services in accordance with
Task Orders from time to time entered into by the Parties, as more fully
provided in Section 2 of the Master Agreement, and Sponsor and PRA now desire to
enter into such a Task Order.

    

    WHEREAS, PRA and Sponsor
desire that PRA provide certain Services with respect to a
___________________________________________________________, (the “Study”) for
the study of the drug ___________________________ (“Study Drug”) as set out in
the Protocol titled: ________________, which is incorporated herein by
reference.

    

    NOW, THEREFORE, in
consideration of the mutual covenants contained herein, the parties hereby agree
as follows:

    

    1.      Project
Specifications.  PRA shall perform the services described in
the Project Specifications, attached hereto as Appendix A, in accordance with
the Project Schedule, attached hereto as Appendix B and any other documents
attached to this Task Order (“Services”).

    

    2.      Compensation.  For
performance of these Services, Sponsor shall pay to PRA the amounts described in
the Budget Estimate for Services and the Pass-Through Budget set forth in
Appendix C, which amounts shall be payable pursuant to the Payment Schedule set
forth in Appendix D.

    

    3.      Milestone Payments.
Payments shall be aligned to milestones as listed below:

    

    
      	
               
      

            	
              -

            	
              [**]
      upon signing of the Task Order.

            

    

    

    
      	
               
      

            	
              -

            	
              [**]
      on a monthly basis, corrected for the actual number of
      Services

            

    

    

    4.      Term and
Termination.  The term of this Task Order shall commence upon
its execution by PRA and Sponsor and shall continue until completion of the
Services described in Appendix A, provided, however, that either party may
terminate this Task Order in accordance with Section 4, Term and Termination, of
the Master Agreement.

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    5.      Designated Contact Persons
and Key Personnel.  The PRA Project Manager and Key Personnel
who shall oversee the Services in accordance with the Master Agreement are
identified in Appendix E, Designated Contact Persons and Key Personnel
Designation.

    

    6.      Incorporation by Reference;
Conflict.  The provisions of the Master Agreement are hereby
expressly incorporated by reference into and made a part of this Task
Order.   In the event of a conflict between the terms and
conditions of this Task Order and those of the Master Agreement, the terms of
the Master Agreement shall take precedence and control, except as specified in
Section 7 below.

    

    
      	
               
      

            	
              7.

            	
               Additional
      Terms.

            

    

    

    Termination and Cancellation
Fees.

    

    In the event this Task Order is
terminated by Sponsor prior to the start of the laboratory study or during the
study, then the following Cancellation Fee set forth will be applied. The
parties hereby agree that in no event shall such termination and cancellation
fees exceed in the aggregate $[**] U.S.D.

    

    Cancellation
Fees.

    

    
      
        	
                Cancellation
      >4 weeks before laboratory services have started (first analysis (of
      each batch))

              	 
      	
                [**]

              
	
                Cancellation
      >2 but <4 weeks before start laboratory SERVICES

              	 
      	
                [**]

              
	
                Cancellation
      >0 but <2 weeks before start laboratory Services

              	 
      	
                [**]

              
	
                After
      start of Services

              	 
      	
                [**]

              

      

    

    

    In case
the laboratory services are divided into separate sub-studies (for example
analysis of different batches), the cancellation fee will be calculated based on
the part or parts of the services that fall in the above-mentioned timeframes.
In all cases, Sponsor has the right to offer replacement projects. In such case,
both Parties will, in good faith, negotiate an adjusted cancellation fee,
depending on size and the timing of the replacement projects.

    

    Postponement.

    

    In the
event that Sponsor postpones the laboratory study at PRA’s facilities, before
the commencement of the laboratory study, then all of the terms and fees set
above will apply, provided, however, that if PRA is able to reschedule the Study
at a time which is acceptable to Sponsor, it will not be required to pay for the
actual costs incurred, to the extent that the deliverables or services are
applicable to the postponed study.

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    IN WITNESS WHEREOF, the
parties have hereunto signed this Task Order effective as of the day and year
first written above.

    

    
      
        
          
            
              	
                      Pharmaceutical
      Research Associates, Inc.

                    	 	
                      Idenix
      Pharmaceuticals, Inc.

                    
	 
      	 	 
      
	 
      	 	
                       

                    
	
                      Name

                    	 	
                      Name

                    
	 
      	 	
                       

                    
	
                      Title

                    	 	
                      Title

                    
	 
      	 	
                       

                    
	
                      Date

                    	 	
                      Date

                    

            

          

        

      

    

    

    List
of Appendices

    
      	
              Appendix
      A:

            	
              Project
      Specifications

            
	
              Appendix
      B:

            	
              Project
      Schedule

            
	
              Appendix
      C:

            	
              Budget
      Estimate for Services and Pass-Through Budget

            
	
              Appendix
      D:

            	
              Payment
      Schedule

            
	
              Appendix
      E:

            	
              Designated
      Contact Persons and Key Personnel
Designation

            

    

     

    
      
        
          
            
              	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    EXHIBIT
B

    

    FORM
OF AMENDMENT

    

    AMENDMENT #  
  

    

    Agreement
No          , Protocol
#

    

    THIS AMENDMENT #1 (“Amendment
#1”), dated <Month> <Day>, <Year> (the “Effective Date”), by
and between Pharmaceutical
Research Associates, Inc., together with its affiliates, with offices at
4130 ParkLake Avenue, Suite 400, Raleigh, NC 27612 (“PRA”) and Idenix Pharmaceuticals, Inc.,
with offices at 60 Hampshire Street, Cambridge, MA 02139,
USA  (“Sponsor”).

    

    WITNESSETH:

    

    WHEREAS, under the terms of a
certain Agreement for Clinical Trials Management Services (the “Agreement”),
dated the ___ day
of _______, 200_ by and between the parties, Sponsor agreed to retain PRA, and
PRA agreed to be retained by Sponsor, to perform the Services as more
particularly described in the Agreement pursuant to the terms of Task Orders to
be issued from time to time; and

    

    WHEREAS, the parties hereto
have entered into certain additional agreements with respect to modification of
the Agreement, and which they desire to memorialize in this Amendment
#_;

    

    NOW, THEREFORE, in
consideration of the premises and of the following mutual promises, covenants
and conditions hereinafter set forth, the parties hereto agree as
follows:

    

    1.           Project
Specifications.  [Use the following if work is to be added to
the existing scope of work.  If the old scope no longer applies, and a
completely new Scope of work is necessary, the old specifications should be
stricken and replaced by the new ones.]  The Services to be provided
by PRA pursuant to the Agreement are hereby amended by inclusion of the Services
described in Amendment Appendix __, “Additional Project Specifications”, which
is attached hereto and incorporated herein by reference.

    

    2.           Project
Schedule.  The Project Schedule, attached to the Agreement as
Appendix __, is hereby stricken and replaced by the Amended Project Schedule,
attached hereto as Amendment Appendix__, “Amended Project Schedule”, which is
incorporated herein by reference.

    

    3.           Budget and Payment
Schedule.  [Each revised Budget should show the following, on
one chart:  Budget from the original contract, new amounts added or
subtracted, and new total budget.  This should follow the format of
the original contract.]   Therefore, the following changes to the
Agreement are hereby made:

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    
      	
               
      

            	
              a.

            	
              The
      Budget for Services, attached to the Agreement as Appendix _, is hereby
      stricken and replaced by the “Amended Budget”, attached hereto as
      Amendment Appendix _, which is incorporated herein by
      reference.

            

    

    

    
      	
               
      

            	
              b.

            	
              The
      Payment Schedule, attached to the Agreement as Appendix __, is hereby
      stricken and replaced by the “Amended Payment Schedule”, attached hereto
      as Amendment Appendix __, which is incorporated herein by
      reference.

            

    

    

    4.           Designated Contact Persons and Key
Personnel.   [If there have been changes to the designated
people or Key Personnel members, use the following]  The staff
assigned to this Study have changed.  Therefore, the Designated
Contact Persons and Key Personnel, attached to the Agreement in Appendix __, is
hereby stricken and replaced by the “Amended Designated Contact Persons and Key
Personnel” attached hereto as Amendment Appendix __, which is incorporated
herein by reference.

    

    5.           Ratification of Balance of
Agreement.  In all other respects, the terms of the Agreement
are hereby ratified and affirmed by each of the parties hereto.

    

    6.           Headings.  The
headings in this Amendment #1 are for convenience of reference only and will not
affect its interpretation.

    

    IN
WITNESS WHEREOF, the parties hereto, each by a duly authorized representative,
have executed this Amendment #1 as of the date first written above.

    

    
      
        
          
            
              
                
                  
                    	
                            PHARMACEUTICAL
      RESEARCH

                          	 
      	
                            IDENIX
      PHARMACEUTICALS, Inc.

                          
	
                            ASSOCIATES,
      INC.

                          	 
      	 
      
	 
      	 
      	 
      
	
                            By:

                          	  
      	 
      	
                            By:

                          	 
      
	 
      	 
      	 
      	 
      	
                            Authorized
      Signature

                          
	 
      	 
      	 
      	 
      	 
      
	
                            Title:

                          	
                            Vice
      President of Operations

                          	 
      	
                            Title:

                          	 
      
	 
      	 
      	 
      	 
      	 
      
	
                            Date:

                          	  
      	 
      	
                            Date:

                          	 
      

                  

                

              

            

          

        

      

    

    

    List of
Appendices:

    

    Amendment
Appendix A: Additional Project Specifications

    Amendment
Appendix B: Amended Project Schedule

    Amendment
Appendix C: Amended Budget

    Amendment
Appendix D: Amended Payment Schedule

    Amendment
Appendix E: Amended Contact Persons and Key Personnel

     

    
      
        
          
            
              	 
      	
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                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

    

     

    AMENDMENT
APPENDIX A

    Additional
Project Specifications

    IDENIX
PHARMACEUTICALS, Inc.

    Project
ID

    

    Idenix
Pharmaceuticals Inc. has requested additional services not in the original
contract.  The following table outlines the rationale behind the
change in the project services and what activities are affected by each
change.

    

    
      
        
          
            
              	 
      	
                      Requested
      Change

                    	 	
                      Affected
      Budget Items Due To Increased

                       (Decreased) Hours

                    
	
                      1.

                    	
                       ·

                    	 	
                       ·

                    

            

          

        

      

    

    

    In
addition to the above changes in effort (hours of work) that result in changes
in costs for Services, there may be some cost increases that are associated with
PRA’s policy on applying inflation costs to projects extending into the next
calendar year.

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
                      Page 36
      of 41

                    

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
       

      
        
          
            	
                    

                  	
                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    Amendment
Appendix b

    Amended
Project Schedule

    

    IDENIX
PHARMACEUTICALS, Inc.

    <PROJECT
ID>

    

    
      
        
          
            
              
                
                  
                    	
                            Activity

                          	 	
                            Contract
      Target

                            Date

                          	 	
                            New
      Target

                            Date

                          
	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      

                  

                

              

            

          

        

      

    

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
                      Page 37
      of 41

                    

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
       

      
        
          
            	
                    

                  	
                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    Amendment
Appendix c

    Amended
Budget

    

    Amended
Costs for Services

    IDENIX
PHARMACEUTICALS, Inc.

    <PROJECT
ID>

    

    
      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      
                                                        
                                                          
                                                            	
                                                                    ACTIVITY

                                                                  	 	
                                                                    Original
      Contract Value

                                                                  	 	
                                                                    Contract
      Amendment #X Cost

                                                                  	 	
                                                                    Revised
      Contract Value

                                                                  
	 	
                                                                    HOURS

                                                                  	 	
                                                                    COST

                                                                  	 	
                                                                    TOTAL COST (USD)

                                                                  	 	
                                                                    HOURS

                                                                  	 	
                                                                    COST

                                                                  	 	
                                                                    TOTAL

                                                                    COST (USD)

                                                                  	 	
                                                                    HOURS

                                                                  	 	
                                                                    COST

                                                                  	 	
                                                                    TOTAL

                                                                    COST (USD)

                                                                  
	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      
	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      
	
                                                                    Grand
      Total Services

                                                                  	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      
	
                                                                    Discount

                                                                  	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      
	
                                                                    Net
      Total Services

                                                                  	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      	 	 
      

                                                          

                                                        

                                                      

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
                      Page 38
      of 41

                    

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
       

      
        
          
            	
                    

                  	
                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

    

     

    
      Amended Pass Through
Expenses

      IDENIX PHARMACEUTICALS,
Inc.

      <Project
ID>

       

      
        
          
            
              
                
                  
                    
                      
                        
                          
                            
                              
                                
                                  
                                    
                                      
                                        
                                          
                                            
                                              
                                                
                                                  
                                                    
                                                      	
                                                               

                                                            	 	
                                                              Original Contract Value 

                                                            	 	
                                                              Contract Amendment #X Cost

                                                            	 	
                                                              Revised Contract Value

                                                            
	
                                                              EXPENSE

                                                            	 	
                                                              COST

                                                            	 	
                                                              TOTAL

                                                              COST (USD)

                                                            	 	
                                                              COST

                                                            	 	
                                                              TOTAL COST (USD)

                                                            	 	
                                                              COST

                                                            	 	
                                                              TOTAL COST (USD)

                                                            
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Grand Total Expenses	 	 	 	 	 	 	 	 	 	 

                                                    

                                                  

                                                

                                              

                                            

                                          

                                        

                                      

                                    

                                  

                                

                              

                            

                          

                        

                      

                    

                  

                

              

            

          

        

      

    

     

    
      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
                      Page 39
      of 41

                    

            

          

        

      

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
      
        
          
            	
                    

                  	
                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    Amendment
Appendix D

    Amended
Payment Schedule

    

    IDENIX
PHARMACEUTICALS, Inc.

    <PROJECT
ID>

    
      
         

        
          
            
              
                
                  
                    
                      
                        
                          
                            	
                                    Milestone

                                  	 
      	
                                    Payment

                                    Date

                                  	 
      	
                                    Original

                                    Payment

                                    Amount

                                  	 
      	
                                    Percent

                                  	 
      	
                                    Amendment

                                    #X

                                  	 
      	
                                    Revised

                                    Payment

                                    Date

                                  	 
      	
                                    Revised

                                    Payment

                                    Amount

                                  	 
      	
                                    Percent

                                  
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	
                                    Total

                                  	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      	 
      

                          

                        

                      

                    

                  

                

              

            

          

        

         

        
          
            
              
                
                  	 
      	
                          CONFIDENTIAL

                        	
                          Page 40
      of 41

                        

                

              

            

          

        

         

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

     

    
       

      
        
          
            	
                    

                  	
                    Master Agreement for Clinical Trials Management
      Services       
  

                  
	
                    IDENIX PHARMACEUTICALS,
      Inc.        

                  
	 
      

          

        

      

       

    

    Amendment
Appendix E

    Amended
Contact Persons and Key Personnel

    

    For
PRA:

    

    For
Client:

    
       

      
        
          
            
              	 
      	
                      CONFIDENTIAL

                    	
                      Page 41
      of 41Unassociated Document

    Exhibit
4.5

    

    NEOSTEM,
INC.

    

    2009
NON-U.S. BASED EQUITY COMPENSATION PLAN

    

    1.           Purposes of the
Plan.  The purposes of this NeoStem, Inc. 2009 Non-U.S. Based
Equity Compensation Plan (the “Plan”) are to provide
additional incentives to Service Providers providing services outside of the
United States, and to promote the success of the Company and its Subsidiaries
abroad. Warrants, Stock Awards, Unrestricted Shares and Stock Appreciation
Rights may be granted under the Plan.

    

    2.           Definitions.  As
used herein, the following definitions shall apply:

    

    “Administrator” means
a Committee which has been delegated the responsibility of administering the
Plan in accordance with Section 4 of the Plan or, if there is no such Committee,
the Board.

    

    “Applicable Laws”
means the requirements relating to the administration of equity compensation
plans under the applicable laws, rules and regulations of: (i) any foreign
country or jurisdiction where Awards are, or will be, granted under the Plan;
(ii) the United States; and (iii) any stock exchange or quotation system on
which the Common Stock is listed or quoted.

    

    “Award” means a
Warrant, a Stock Award, a Stock Appreciation Right and/or the grant of
Unrestricted Shares.

    

    “Board” means the
Board of Directors of the Company.

    

    “Cause”, with respect
to any Service Provider, means (unless otherwise determined by the
Administrator): (i) if the Service Provider is party to a written agreement with
the Company or one of its Subsidiaries, which agreement includes a definition of
“Cause” or words having similar import, the meaning set forth in the Service
Provider’s written agreement; or (ii) if the Service Provider is not a party to
a written agreement with the Company or one of its Subsidiaries (A) the
commission of a crime under the Applicable Laws of the jurisdiction in which the
Service Provider is providing services; (B) fraud on or misappropriation of any
funds or property of the Company; (C) personal dishonesty, willful misconduct or
breach of fiduciary duty which involves personal profit; (D) willful misconduct
in connection with the Service Provider’s duties; (E) chronic use of alcohol,
drugs or other similar substances which affects the Service Provider’s work
performance; or (F) material breach of any provision of any employment,
non-disclosure, non-competition, non-solicitation or other similar agreement
executed by the Service Provider for the benefit of the Company, all as
reasonably determined by the Committee, which determination will be
conclusive.

    

    “Code” means the
Internal Revenue Code of the United States and its interpretive
regulations.

    

    “Committee” means a
committee of Directors appointed by the Board in accordance with Section 4 of
the Plan.

    

    “Common Stock” means
the common stock, par value $0.001 per share, of the Company.

    

    “Company” means
NeoStem, Inc., a Delaware corporation.

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

    “Consultant” means a
natural person providing bona fide services to the Company or one of its
Subsidiaries, or a natural person providing such services through a wholly-owned
corporate alter-ego; provided, that, such services are not in connection with
the offer or sale of securities in a capital-raising transaction, and do not
directly or indirectly promote or maintain a market for the Company’s
stock.

     

    “Disability” means (i)
if the Service Provider is party to a written agreement with the Company or one
of its Subsidiaries, which agreement includes a definition of “Disability” or
words having similar import, the meaning set forth in the Service Provider’s
written agreement; and (ii) if the Service Provider is not a party to a written
agreement, the Service Provider’s inability to perform the essential functions
of his or her position for a period of 90 consecutive days or, 180 days within
any one year period as a result of an injury or illness.

    

    “Employee” means any
employee of the Company or of a Subsidiary (including, without limitation, an
employee who is also serving as an officer or director of the Company or of a
Subsidiary).

    

    “Exchange Act” means
the United States Securities Exchange Act of 1934, as amended.

    

    “Fair Market Value”
means, as of any date, the value of Common Stock determined as
follows:

     

    (i)           if
the Common Stock is listed on any established stock exchange or a national
market system, including without limitation the NYSE Amex, Nasdaq National
Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, or any
successor to any of them, the Fair Market Value of a Share of Common Stock shall
be the closing sales price of a Share of Common Stock as quoted on such exchange
or system for such date (or the most recent trading day preceding such date if
there were no trades on such date), as reported in The Wall Street
Journal or such other source as the Committee deems reliable, including
without limitation, Yahoo! Finance;

    

    (ii)          if
the Common Stock is regularly quoted by a recognized securities dealer but is
not listed in the manner contemplated by clause (i) above, the Fair Market Value
of a Share of Common Stock shall be the mean between the high bid and low asked
prices for the Common Stock for such date (or the most recent trading day
preceding such date if there were no trades on such date), as reported in The Wall Street
Journal or such other source as the Committee deems reliable, including
without limitation Yahoo! Finance; or

    

    (iii)         if
neither clause (i) above nor clause (ii) above applies, the Fair Market Value
shall be determined in good faith by the Administrator based on the reasonable
application of a reasonable valuation method.

    

    “Grant Agreement”
means an agreement between the Company and a Participant evidencing the terms
and conditions of an Award. Each Grant Agreement shall be subject to the terms
and conditions of the Plan.

    

    “Notice of Grant”
means a written or electronic notice evidencing certain terms and conditions of
an Award. The Notice of Grant applicable to Warrant or Stock Appreciation Rights
shall be part of the Grant Agreement.

    

    “Parent” means a
“parent corporation” of the Company (or, for purposes of Section 16(b) of the
Plan, a successor to the Company), whether now or hereafter existing, as defined
in Section 424(e) of the Code.

     

    “Participant” shall
mean any Service Provider who is granted an Award under the Plan.

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    “Person” shall be
construed broadly and shall include, without limitation, an individual, a
partnership, a limited liability company, a corporation, an association, a joint
stock company, a trust, a joint venture, an unincorporated organization and a
governmental entity or any department, agency or political subdivision
thereof.

    

    “Rule 16b-3” means
Rule 16b-3 of the Exchange Act or any successor to such Rule 16b-3, as such rule
is in effect when discretion is being exercised with respect to the
Plan.

    

    “Section 16(b)” means
Section 16(b) of the Exchange Act.

    

    “Service Provider”
means an Employee or Consultant providing services outside the United States to
the Company or to one of its Subsidiaries.

    

    “Share” means a share
of the Common Stock, as adjusted in accordance with Section 16 of the
Plan.

    

    “Stock Appreciation
Right” means a right awarded pursuant to Section 14 of the
Plan.

    

    “Stock Award” means an
Award of Shares pursuant to Section 11 of the Plan or an award of Restricted
Stock Units pursuant to Section 12 of the Plan.

    

    “Stock Award
Agreement” means an agreement, approved by the Administrator, providing
the terms and conditions of a Stock Award.

    

    “Stock Award Shares”
means Shares subject to a Stock Award.

    

    “Stock Awardee” means
the holder of an outstanding Stock Award granted under the Plan.

    

    “Subsidiary” means any
corporation or other entity of which the Company owns securities or interests
having a majority, directly or indirectly, of the ordinary voting power in
electing the board of directors, managers, general partners or similar governing
Persons thereof.

    

    “Unrestricted Shares”
means a grant of Shares made on an unrestricted basis pursuant to Section 13 of
the Plan.

    

    “Warrant” means a
stock warrant granted pursuant to the Plan.

    

    “Warranted Stock”
means the Common Stock subject to a Warrant.

    

    “Warrantee” means the
holder of an outstanding Warrant granted under the Plan.

    

    3.           Stock Subject to the
Plan.  Subject to the provisions of Section 16(a) of the Plan,
the maximum aggregate number of Shares that may be issued under the Plan is
4,700,000 Shares.  The Shares may be authorized but unissued, or
reacquired, shares of Common Stock. If a Warrant or Stock Appreciation Right
expires or becomes unexercisable without having been exercised in full or is
canceled or terminated, or if any Shares of Restricted Stock or Shares
underlying a Stock Award are forfeited or reacquired by the Company, the Shares
that were subject thereto shall be added back to the Shares available for
issuance under the Plan. The Company, during the term of this Plan, will at all
times reserve and keep available such number of Shares as shall be sufficient to
satisfy the requirements of the Plan.

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

    4.           Administration of the
Plan.

    

    (a)           Appointment.  The
Plan shall be administered by a Committee to be appointed by the Board, which
Committee shall consist of not less than two members of the Board. The Board
shall have the power to add or remove members of the Committee, from time to
time, and to fill vacancies thereon arising; by resignation, death, removal, or
otherwise. Meetings shall be held at such times and places as shall be
determined by the Committee. A majority of the members of the Committee shall
constitute a quorum for the transaction of business, and the vote of a majority
of those members present at any meeting shall decide any question brought before
that meeting.

    

    (b)           Powers of the
Administrator.  The Administrator shall have the authority, in
its discretion:

    

    (i)           to
determine the Fair Market Value of Shares;

    

    (ii)          to
select the Service Providers to whom Awards may be granted
hereunder;

    

    (iii)         to
determine the number of shares of Common Stock to be covered by each Award
granted hereunder;

    

    (iv)         to
approve forms of agreement for use under the Plan;

    

    (v)          to
determine the terms and conditions, not inconsistent with the terms of the Plan
or of any Award granted hereunder. Such terms and conditions include, but are
not limited to, the exercise price, the time or times when Warrants and Stock
Appreciation Rights may be exercised (which may be based on performance
criteria), any vesting, acceleration or waiver of forfeiture provisions, and any
restriction or limitation regarding any Awards relating thereto, based in each
case on such factors as the Administrator, in its sole discretion, shall
determine;

    

    (vi)         to
construe and interpret the terms of the Plan, Awards granted pursuant to the
Plan and agreements entered into pursuant to the Plan;

    

    (vii)        to
prescribe, amend and rescind rules and regulations relating to the Plan,
including rules and regulations relating to sub-plans established for the
purpose of qualifying for preferred tax treatment under foreign tax
laws;

    

    (viii)       to
modify or amend each Award (subject to Section 19(c) of the Plan), including the
discretionary authority to extend, subject to the terms of the Plan, the
post-termination exercisability period of Warrant or Stock Appreciation Rights
longer than is otherwise provided for in a Grant Agreement and to accelerate the
time at which any outstanding Warrant or Stock Appreciation Right may be
exercised;

    

    (ix)      
   to allow grantees to satisfy withholding tax obligations by
having the Company withhold from the Shares to be issued upon exercise of a
Warrant or Stock Appreciation Right, upon vesting of a Stock Award, or upon the
grant of Unrestricted Shares that number of Shares having a Fair Market Value
equal to the amount required to be withheld, provided that withholding is
calculated at the minimum statutory withholding level. The Fair Market Value of
the Shares to be withheld shall be determined on the date that the amount of tax
to be withheld is to be determined. All determinations to have Shares withheld
for this purpose shall be made by the Administrator in its
discretion;

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

     

    (x)    
      to reduce or increase the exercise price of
any Award issued and outstanding under the Plan or all of the Awards issued and
outstanding under the Plan;

    

    (xi)          to
authorize any person to execute on behalf of the Company any agreement entered
into pursuant to the Plan and any instrument required to effect the grant of an
Award previously granted by the Administrator;

    

    (xii)         to
modify or amend the Plan to comply with the laws of any foreign territory in
which a Participant is providing services; and

    

    (xiii)        to
make all other determinations deemed necessary or advisable for administering
the Plan.

    

    (c)           Effect of Administrator’s
Decision.  The Administrator’s decisions, determinations and
interpretations shall be final and binding on all holders of Awards and
Restricted Stock. None of the Board, the Committee or the Administrator, nor any
member or delegate thereof, shall be liable for any act, omission,
interpretation, construction or determination made in good faith in connection
with the Plan, and each of the foregoing shall be entitled in all cases to
indemnification and reimbursement by the Company in respect of any claim, loss,
damage or expense (including without limitation reasonable attorneys’ fees)
arising or resulting therefrom to the fullest extent permitted by law and/or
under any directors’ and officers’ liability insurance coverage which may be in
effect from time to time.

    

    (d)           Delegation of Grant
Authority.  Notwithstanding any other provision in the Plan,
the Board may authorize the Company’s Chief Executive Officer or another
executive officer of the Company or a committee of such officers (“Authorized Officers”)
to grant Warrants under the Plan; provided, however, that in no
event shall the Authorized Officers be permitted to grant Warrants to (i) any
Director, (ii) any person who is identified by the Company as an executive
officer of the Company or who is subject to the restrictions imposed under
Section 16 of the Exchange Act, (iii) any person who is not an Employee of the
Company, a Subsidiary, or (iv) such other person or persons as may be designated
from time to time by the Board. If such authority is provided by the Board, the
Board shall establish and adopt written guidelines setting forth the maximum
number of shares for which the Authorized Officers may grant Warrants to any
individual during a specified period of time and such other terms and conditions
as the Board deems appropriate for such grants. Such guidelines may be amended
by the Board prospectively at any time. Subject to the foregoing, the Authorized
Officers shall have the same authority as the Administrator under this Section 4
with respect to the grant of Warrants under the Plan.

    

    5.           Eligibility.  Awards
may only be granted to Service Providers providing services outside of the
United States on the date of the grant of the Award. Notwithstanding anything
contained herein to the contrary, an Award may be granted to a person who is not
then a Service Provider; provided, however, that the grant of such Award shall
be conditioned upon such person becoming a Service Provider at or prior to the
time of the execution of the agreement evidencing such Award.

    

    6.           Limitations.  Neither
the Plan nor any Award nor any agreement entered into pursuant to the Plan shall
confer upon a Participant any right with respect to continuing the Participant’s
relationship as a Service Provider with the Company or any of its Subsidiaries,
nor shall they interfere in any way with the Participant’s right or the right of
the Company or the Subsidiary to terminate such relationship at any time, with
or without cause.

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

     

    7.           Term of the
Plan.  Subject to Section 22 of the Plan, the Plan shall become
effective upon its adoption by the Board. It shall continue in effect for a term
of ten (10) years unless terminated earlier under Section 19 of the
Plan.

    

    8.           Term of
Warrants.  Unless otherwise provided in the applicable Grant
Agreement, the term of each Warrant granted to anyone who is an Employee of the
Company, a Subsidiary shall be ten (10) years from the date of grant and the
term of each Warrant granted to any Consultant shall be five (5) years from the
date of grant.

    

    9.           Warrant Exercise Price;
Exercisability.

    

    (a)           Exercise
Price.  The per share exercise price for the Shares to be
issued pursuant to exercise of a Warrant shall be determined by the
Administrator, provided that the exercise price shall be equal to or greater
than the Fair Market Value of the Common Stock on the date that the Award is
granted. The exercise price shall be stated in U.S. dollars.

    

    (b)           Exercise Period and
Conditions.  At the time that a Warrant is granted, the
Administrator shall fix the period within which the Warrant may be exercised and
shall determine any conditions that must be satisfied before the Warrant may be
exercised.

    

    (c)           Reload
Warrants.  The Administrator may grant Warrants with a reload
feature. A reload feature shall only apply when the Warrant price is paid by
delivery of Common Stock (as set forth in Section 10(f)) or by having the
Company reduce the number of shares otherwise issuable to a Warrantee (as
provided for in Section 10(f)) (a “Net Exercise”). The
Grant Agreement for the Warrants containing the reload feature shall provide
that the Warrant holder shall receive, contemporaneously with the payment of the
exercise price in shares of Common Stock or in the event of a Net Exercise, a
reload warrant (the “Reload Warrant”) to
purchase that number of shares of Common Stock equal to the sum of (i) the
number of shares of Common Stock used to exercise the Warrant (or not issued in
the case of a Net Exercise), and (ii) the number of shares of Common Stock used
to satisfy any tax withholding requirement incident to the exercise of such
Warrant. The terms of the Plan applicable to the Warrant shall be equally
applicable to the Reload Warrant with the following exceptions: (i) the exercise
price per share of Common Stock deliverable upon the exercise of the Reload
Warrant shall be the Fair Market Value of a share of Common Stock on the date of
grant of the Reload Warrant; and (ii) the term of the Reload Warrant shall be
equal to the remaining term of the Warrant (including a Reload Warrant) which
gave rise to the Reload Warrant. The Reload Warrant shall be evidenced by an
appropriate amendment to the Grant Agreement for the Warrant which gave rise to
the Reload Warrant. In the event the exercise price of a Warrant containing a
reload feature is paid by cash or check and not in shares of Common Stock, the
reload feature shall have no application with respect to such
exercise.

    

    10.           Exercise of Warrants;
Consideration.

    

    (a)           Procedure for Exercise; Rights as a
Shareholder.  Any Warrant granted hereunder shall be
exercisable according to the terms of the Plan and at such times and under such
conditions as determined by the Administrator and set forth in the Grant
Agreement. Unless the Administrator provides otherwise, vesting of Warrants
granted hereunder shall be tolled during any unpaid leave of absence. A Warrant
may not be exercised for a fraction of a Share. A Warrant shall be deemed
exercised when the Company receives: (i) written or electronic notice of
exercise (in accordance with the Grant Agreement) from the person entitled to
exercise the Warrant, and (ii) full payment for the Shares with respect to which
the Warrant is exercised. Full payment may consist of any consideration and
method of payment authorized by the Administrator and permitted by the Grant
Agreement and Section 10(f) of the Plan. Shares issued upon exercise of a
Warrant shall be issued in the name of the Warrantee. Until the Shares are
issued (as evidenced by the appropriate entry on the books of the Company or of
a duly authorized transfer agent of the Company), no right to vote or receive
dividends or any other rights as a shareholder shall exist with respect to the
Warranted Stock, notwithstanding the exercise of the Warrant. The Company shall
issue (or cause to be issued) such Shares promptly after the Warrant is
exercised. No adjustment will be made for a dividend or other right for which
the record date is prior to the date the Shares are issued, except as provided
in Section 16 of the Plan. Exercising a Warrant in any manner shall decrease the
number of Shares thereafter available, both for purposes of the Plan and for
sale under the Warrant, by the number of Shares as to which the Warrant is
exercised.

     

    
      
         

      

      
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    (b)           Termination of Relationship as a
Service Provider.  Unless otherwise specified in the Grant
Agreement or provided by the Administrator, if a Warrantee ceases to be a
Service Provider, other than as a result of (x) the Warrantee’s death or
Disability, (y) the termination of such Warrantee’s services with Cause, or (z)
the Warrantee’s voluntary termination of service, the Warrantee may exercise his
or her Warrant for up to ninety (90) days following the date on which the
Warrantee ceases to be a Service Provider to the extent that the Warrant is
vested on the date of termination (but in no event later than the expiration of
the term of such Warrant as set forth in the Grant Agreement). If, on the date
that the Warrantee ceases to be a Service Provider, the Warrantee is not vested
as to his or her entire Warrant, the Shares covered by the unvested
portion  of the Warrant shall revert to the Plan. If, after the date
that the Warrantee ceases to be a Service Provider the Warrantee does not
exercise his or her Warrant in full within the time set forth herein or the
Grant Agreement, as applicable, the unexercised portion of the Warrant shall
terminate, and the Shares covered by such unexercised portion of the Warrant
shall revert to the Plan. A Warrantee who changes his or her status as a Service
Provider (e.g., from being an Employee to being a Consultant) or who transfers
his or her services among the Company or any of its Subsidiaries shall not be
deemed to have ceased being a Service Provider for purposes of this Section
10(b).

    

    (c)           Disability of a
Warrantee.  Unless otherwise specified in the Grant Agreement,
if a Warrantee ceases to be a Service Provider as a result of the Warrantee’s
Disability, the Warrantee may exercise his or her Warrant, to the extent the
Warrant is vested on the date that the Warrantee ceases to be a Service
Provider, up until the one-year anniversary of the date on which the Warrantee
ceases to be a Service Provider (but in no event later than the expiration of
the term of such Warrant as set forth in the Grant Agreement). If, on the date
that the Warrantee ceases to be a Service Provider, the Warrantee is not vested
as to his or her entire Warrant, the Shares covered by the unvested portion of
the Warrant shall revert to the Plan. If, after the Warrantee ceases to be a
Service Provider, the Warrantee does not exercise his or her Warrant in full
within the time set forth herein or the Grant Agreement, as applicable, the
unexercised portion of the Warrant shall terminate, and the Shares covered by
such unexercised portion of the Warrant shall revert to the Plan.

    

    (d)           Death of a
Warrantee.  Unless otherwise specified in the Grant Agreement,
if a Warrantee dies while a Service Provider, the Warrant may be exercised, to
the extent that the Warrant is vested on the date of death, by the Warrantee’s
estate or by a person who acquires the right to exercise the Warrant by bequest
or inheritance up until the one-year anniversary of the Warrantee’s death (but
in no event later than the expiration of the term of such Warrant as set forth
in the Notice of Grant). If, at the time of death, the Warrantee is not vested
as to his or her entire Warrant, the Shares covered by the unvested portion of
the Warrant shall revert to the Plan. If the Warrant is not so exercised in full
within the time set forth herein or the Grant Agreement, as applicable, the
unexercised portion of the Warrant shall terminate, and the Shares covered by
the unexercised portion of such Warrant shall revert to the Plan.

    

    (e)           Termination for Cause or Voluntary
Termination.  If the Company or a Subsidiary to which a Service
Provider provides services terminates the Service Provider’s Services for Cause,
or if a Service Provider voluntarily terminates his or her relationship with the
Company or the Subsidiary, unless otherwise provided in such Service Provider’s
Grant Agreement or by the Administrator, the Service Provider shall have no
right to exercise any of such Service Provider’s Warrants at any time on or
after the effective date of such termination.

     

    
      
         

      

      
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    (f)           Form of
Consideration.  The Administrator shall determine the
acceptable form of consideration for exercising a Warrant, including the method
of payment. Such consideration may consist entirely of:

    

    (i)           cash
denominated in U.S. Dollars;

    

    (ii)         
wire transfer denominated in U.S. Dollars;

    

    (iii)         check
denominated in U.S. Dollars;

    

    (iv)    
    other Shares which (A) in the case of Shares acquired
upon exercise of a Warrant at a time when the Company is subject to Section
16(b) of the Exchange Act, have been owned by the Warrantee for more than six
months on the date of surrender, and (B) have a Fair Market Value on the date of
surrender equal to the aggregate exercise price of the Shares as to which said
Warrant shall be exercised;

    

    (v)         
consideration received by the Company under a cashless exercise program
implemented by the Company in connection with the Plan;

    

    (vi)         a
reduction in the number of Shares otherwise issuable by a number of Shares
having a Fair Market Value equal to the exercise price of the Warrant being
exercised;

    

    (vii)        any
combination of the foregoing methods of payment; or

    

    (viii)       such
other consideration and method of payment for the issuance of Shares to the
extent permitted by Applicable Laws.

    

    11.           Stock Awards.  The
Administrator may, in its sole discretion, grant (or sell at par value or such
higher purchase price as it determines) Shares to any Service Provider subject
to such terms and conditions as the Administrator sets forth in a Stock Award
Agreement evidencing such grant. Stock Awards may be granted or sold in respect
of past services or other valid consideration or in lieu of any cash
compensation otherwise payable to such individual. The grant of Stock Awards
under this Section 11 shall be subject to the following provisions:

    

    (a)           At
the time a Stock Award under this Section 11 is made, the Administrator shall
establish a vesting period (the “Restricted Period”)
applicable to the Stock Award Shares subject to such Stock Award. The
Administrator may, in its sole discretion, at the time a grant is made,
prescribe restrictions in addition to the expiration of the Restricted Period,
including the satisfaction of corporate or individual performance objectives.
None of the Stock Award Shares may be sold, transferred, assigned, pledged or
otherwise encumbered or disposed of during the Restricted Period applicable to
such Stock Award Shares or prior to the satisfaction of any other restrictions
prescribed by the Administrator with respect to such Stock Award
Shares.

    

    (b)           The
Company shall issue, in the name of each Service Provider to whom Stock Award
Shares have been granted, stock certificates representing the total number of
Stock Award Shares granted to such person, as soon as reasonably practicable
after the grant. The Company, at the direction of the Administrator, shall hold
such certificates, properly endorsed for transfer, for the Stock Awardee’s
benefit until such time as the Stock Award Shares are forfeited to the Company,
or the restrictions lapse.

     

    
      
         

      

      
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    (c)           Unless
otherwise provided by the Administrator, holders of Stock Award Shares shall
have the right to vote such Shares and have the right to receive any cash
dividends with respect to such Shares. All distributions, if any, received by a
Stock Awardee with respect to Stock Award Shares as a result of any stock split,
stock distribution, combination of shares, or other similar transaction shall be
subject to the restrictions of this Section 11.

    

    (d)           Any
Stock Award Shares granted to a Service Provider pursuant to the Plan shall be
forfeited if the Service Provider voluntarily terminates his or her services
with the Company or the Subsidiary to which the Service Provider provided his or
her services, or if the Company or Subsidiary terminates the Service Provider’s
services for Cause, in each case prior to the expiration or termination of the
applicable Restricted Period and the satisfaction of any other conditions
applicable to such Stock Award Shares. Upon such forfeiture, the Stock Award
Shares that are forfeited shall be retained in the treasury of the Company and
be available for subsequent awards under the Plan. If the Stock Awardee’s
services terminate for any other reason prior to the expiration or termination
of the applicable Restricted Period and the satisfaction of any other conditions
applicable to such Stock Award Shares, the Stock Award Shares held by such
person shall be forfeited, unless the Administrator, in its sole discretion,
shall determine otherwise.

    

    (e)           Upon
the expiration or termination of the Restricted Period and the satisfaction of
any other conditions prescribed by the Committee, the restrictions applicable to
the Stock Award Shares shall lapse and, at the Stock Awardee’s request, a stock
certificate for the number of Stock Award Shares with respect to which the
restrictions have lapsed shall be delivered, free of all such restrictions, to
the Stock Awardee or his beneficiary or estate, as the case may be.

    

    (f)           Prior
to the delivery of any shares of Common Stock in connection with a Stock Award
under this Section 11, the Company shall be entitled to require as a condition
of delivery that the Stock Awardee shall pay or make adequate provision
acceptable to the Company for the satisfaction of the statutory minimum
prescribed amount of tax and other withholding obligations of the Company under
Applicable Law, including, if permitted by the Administrator, by having the
Company withhold from the number of shares of Common Stock otherwise deliverable
in connection with a Stock Award, a number of shares of Common Stock having a
Fair Market Value equal to an amount sufficient to satisfy such tax withholding
obligations.

    

    12.           Restricted Stock
Units.  The Committee may, in its sole discretion, grant
Restricted Stock Units to a Service Provider subject to such terms and
conditions as the Committee sets forth in a Stock Award Agreement evidencing
such grant.

    

    (a)           “Restricted
Stock Units” are Awards denominated in units evidencing the right to receive
Shares of Common Stock, which may vest over such period of time and/or upon
satisfaction of such performance criteria or objectives as is determined by the
Committee at the time of grant and set forth in the applicable Stock Award
Agreement, without payment of any amounts by the Stock Awardee thereof (except
to the extent required by law). Prior to delivery of shares of Common Stock with
respect to an award of Restricted Stock Units, the Stock Awardee shall have no
rights as a stockholder of the Company.

    

    (b)           Upon
satisfaction and/or achievement of the applicable vesting requirements relating
to an award of Restricted Stock Units, the Stock Awardee shall be entitled to
receive a number of shares of Common Stock that are equal to the number of
Restricted Stock Units that became vested. To the extent, if any, set forth in
the applicable Stock Award Agreement, cash dividend equivalents may be paid
during, or may be accumulated and paid at the end of, the applicable vesting
period, as determined by the Committee.

     

    
      
         

      

      
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    (c)           Unless
otherwise provided by the Stock Award Agreement, any Restricted Stock Units
granted to a Service Provider pursuant to the Plan shall be forfeited if the
Stock Awardee’s service with the Company or its Subsidiaries terminates for any
reason prior to the expiration or termination of the applicable vesting period
and/or the achievement of such other vesting conditions applicable to the
award.

    

    (d)           Prior
to the delivery of any shares of Common Stock in connection with an award of
Restricted Stock Units, the Company shall be entitled to require as a condition
of delivery that the Stock Awardee shall pay or make adequate provision
acceptable to the Company for the satisfaction of the statutory minimum
prescribed amount of tax and other withholding obligations of the Company under
Applicable Law, including, if permitted by the Administrator, by having the
Company withhold from the number of shares of Common Stock otherwise deliverable
in connection with an award of Restricted Stock Units, a number of shares of
Common Stock having a Fair Market Value equal to an amount sufficient to satisfy
such tax withholding obligations.

    

    13.           Unrestricted
Shares.  The Administrator may grant Unrestricted Shares in
accordance with the following provisions:

    

    (a)           The
Administrator may cause the Company to grant Unrestricted Shares to Service
Providers at such time or times, in such amounts and for such reasons as the
Administrator, in its sole discretion, shall determine. No payment shall be
required for Unrestricted Shares.

    

    (b)           The
Company shall issue, in the name of each Service Provider to whom Unrestricted
Shares have been granted, stock certificates representing the total number of
Unrestricted Shares granted to such individual, and shall deliver such
certificates to such Service Provider as soon as reasonably practicable after
the date of grant or on such later date as the Administrator shall determine at
the time of grant.

    

    (c)           Prior
to the delivery of any Unrestricted Shares, the Company shall be entitled to
require as a condition of delivery that the Stock Awardee shall pay or make
adequate provision acceptable to the Company for the satisfaction of the
statutory minimum prescribed amount of tax and other withholding obligations of
the Company under Applicable Law, including, if permitted by the Administrator,
by having the Company withhold from the number of Unrestricted Shares otherwise
deliverable, a number of shares of Common Stock having a Fair Market Value equal
to an amount sufficient to satisfy such tax withholding
obligations.

    

    14.           Stock Appreciation
Rights.  A Stock Appreciation Right may be granted by the
Committee either alone, in addition to, or in tandem with other Awards granted
under the Plan. Each Stock Appreciation Right granted under the Plan shall be
subject to the following terms and conditions:

    

    (a)           Each
Stock Appreciation Right shall relate to such number of Shares as shall be
determined by the Committee.

    

    (b)           The
Award Date (i.e., the
date of grant) of a Stock Appreciation Right shall be the date specified by the
Committee, provided that that date shall not be before the date on which the
Stock Appreciation Right is actually granted. The Award Date of a Stock
Appreciation Right shall not be prior to the date on which the recipient
commences providing services as a Service Provider. The term of each Stock
Appreciation Right shall be determined by the Committee, but shall not exceed
ten years from the date of grant. Each Stock Appreciation Right shall become
exercisable at such time or times and in such amount or amounts during its term
as shall be determined by the Committee. Unless otherwise specified by the
Committee, once a Stock Appreciation Right becomes exercisable, whether in full
or in part, it shall remain so exercisable until its expiration, forfeiture,
termination or cancellation.

     

    
      
         

      

      
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    (c)           A
Stock Appreciation Right may be exercised, in whole or in part, by giving
written notice to the Committee. As soon as practicable after receipt of the
written notice, the Company shall deliver to the person exercising the Stock
Appreciation Right stock certificates for the Shares to which that person is
entitled under Section 14(d) hereof.

    

    (d)           A
Stock Appreciation Right shall be exercisable for Shares only. The number of
Shares issuable upon the exercise of the Stock Appreciation Right shall be
determined by dividing:

    

    (i)           the
number of Shares for which the Stock Appreciation Right is exercised multiplied
by the amount of the appreciation per Share (for this purpose, the “appreciation
per Share” shall be the amount by which the Fair Market Value of a Share on the
exercise date exceeds (x) in the case of a Stock Appreciation Right granted in
tandem with a Warrant, the exercise price or (y) in the case of a Stock
Appreciation Right granted alone without reference to a Warrant, the Fair Market
Value of a Share on the Award Date of the Stock Appreciation Right);
by

    

    (ii)          the
Fair Market Value of a Share on the exercise date.

    

    15.           Non-Transferability.  Unless
determined otherwise by the Administrator, a Warrant or Stock Appreciation Right
may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in
any manner other than by will or by the laws of descent or distribution and may
be exercised, during the lifetime of the Warrantee, only by the Warrantee. If
the Administrator makes a Warrant or Stock Appreciation Right transferable, such
Warrant or Stock Appreciation Right shall contain such additional terms and
conditions as the Administrator deems appropriate. Notwithstanding the
foregoing, the Administrator, in its sole discretion, may provide in the Grant
Agreement regarding a given Warrant that the Warrantee may transfer, without
consideration for the transfer, his or her Warrants to members of his or her
immediate family, to trusts for the benefit of such family members, or to
partnerships in which such family members are the only partners, provided that
the transferee agrees in writing with the Company to be bound by all of the
terms and conditions of this Plan and the applicable Warrant. During the period
when Shares of Restricted Stock and Stock Award Shares are restricted (by virtue
of vesting schedules or otherwise), such Shares may not be sold, pledged,
assigned, hypothecated, transferred, or disposed of in any manner other than by
will or by the laws of descent or distribution.

    

    16.           Adjustments Upon Changes in
Capitalization, Dissolution, Merger or Asset Sale.

    

    (a)           Changes in
Capitalization.  Subject to any required action by the
shareholders of the Company, the number of Shares of Common Stock covered by
each outstanding Award and the number of Shares of Common Stock which have been
authorized for issuance under the Plan but as to which no Awards have yet been
granted or which have been returned to the Plan upon cancellation or expiration
of an Award, as well as the price per share of Common Stock covered by each such
outstanding Award, shall be proportionately adjusted for any increase or
decrease in the number of issued shares of Common Stock resulting from a stock
split, reverse stock split, stock dividend, combination or reclassification of
the Common Stock, or any other increase or decrease in the number of issued
shares of Common Stock effected without receipt of consideration by the Company;
provided, however, that conversion of any convertible securities of the Company
shall not be deemed to have been “effected without receipt of consideration.”
Such adjustment shall be made by the Administrator, whose determination in that
respect shall be final, binding and conclusive. Except as expressly provided
herein, no issuance by the Company of shares of stock of any class, or
securities convertible into shares of stock of any class, shall affect, and no
adjustment by reason thereof shall be made with respect to, the number or price
of Shares of Common Stock subject to an Award hereunder. Except as expressly
provided herein, the issuance by the Company of shares of stock of any class, or
securities convertible into shares of stock of any class, for cash or property,
or for labor or services either upon direct sale or upon the exercise of rights
or warrants to subscribe therefore, or upon conversion of shares or obligations
of the Company convertible into sub-shares or other securities, shall not
affect, and no adjustment by reason thereof shall be made with respect to, the
number or price of Shares of Common Stock then subject to outstanding Warrants
and Stock Appreciation Rights.

     

    
      
         

      

      
        11

        
          

        

      

      
         

      

    

     

    (b)           Corporate
Transactions.  If the Company merges or consolidates with
another corporation, whether or not the Company is the surviving corporation, or
if the Company is liquidated or sells or otherwise disposes of substantially all
its assets, or if any “person” (as that term is used in Section 13(d) and
14(d)(2) of the Exchange Act) is or becomes the beneficial owner, directly or
indirectly, of securities of the Company representing greater than 50% of the
combined voting power of the Company’s then outstanding securities (each such
event a “Corporate
Transaction Event”) then (i) after the effective date of such Corporate
Transaction Event, each holder of an outstanding Warrant or Stock Appreciation
Right shall be entitled, upon exercise of such Warrant or Stock Appreciation
Right to receive, in lieu of Shares of Common Stock, the number and class or
classes of shares of such stock or other securities or property to which such
holder would have been entitled if, immediately prior to such Corporate
Transaction Event, such holder had been the holder of record of a number of
Shares of Common Stock equal to the number of shares as to which such Warrant
and Stock Appreciation Right may be exercised; and (ii) the Board may waive any
limitations set forth in or imposed pursuant hereto so that all Warrants and
Stock Appreciation Rights from and after a date prior to the effective date of
such Corporate Transaction Event, as specified by the Board, shall be
exercisable in full. Notwithstanding anything contained herein to the contrary,
the proposed transaction between the Company and China Biopharmaceutical
Holdings, Inc. shall not constitute a Corporate Transaction Event.

    

    In the
event of a Corporate Transaction Event, then each outstanding Stock Award shall
be assumed or an equivalent agreement or award substituted by the successor
corporation or a Parent or Subsidiary of the successor corporation. In the event
that the Committee determines that the successor corporation or a Parent or a
Subsidiary of the successor corporation has refused to assume or substitute an
equivalent agreement or award for each outstanding Stock Award, all vesting
periods and conditions under Stock Awards shall be deemed to have been
satisfied. The Board may also, in its discretion, cause all vesting periods and
conditions under Stock Awards to be deemed to have been satisfied.

    

    17.           Substitute
Warrants.  In the event that the Company, directly or
indirectly, acquires another entity, the Board may authorize the issuance of
Warrants (“Substitute
Warrants”) to the individuals performing services for the acquired entity
(if such services are performed outside of the United States) in substitution of
Warrants previously granted to those individuals in connection with their
performance of services for such entity upon such terms and conditions as the
Board shall determine. Shares of capital stock underlying Substitute Warrants
shall not constitute Shares issued pursuant to the Plan for any
purpose.

    

    18.           Date of Grant.  The
date of grant of an Award shall be, for all purposes, the date on which the
Administrator makes the determination granting such Warrant, Stock Appreciation
Right, Stock Award or Unrestricted Share, or such other later date as is
determined by the Administrator. Notice of the determination shall be provided
to each grantee within a reasonable time after the date of such
grant.

    

    19.           Amendment and Termination of the
Plan.

    

    (a)           Amendment and
Termination.  The Board may at any time amend, alter, suspend
or terminate the Plan.

     

    
      
         

      

      
        12

        
          

        

      

      
         

      

    

     

    (b)           Shareholder
Approval.  The Company shall obtain shareholder approval of any
Plan amendment to the extent necessary to comply with Applicable
Laws.

    

    (c)           Effect of Amendment or
Termination.  No amendment, alteration, suspension or
termination of the Plan shall impair the rights of any grantee, unless mutually
agreed otherwise between the grantee and the Administrator, which agreement must
be in writing and signed by the grantee and the Company. Termination of the Plan
shall not affect the Administrator’s ability to exercise the powers granted to
it hereunder with respect to Awards granted under the Plan prior to the date of
such termination.

    

    20.           Conditions Upon Issuance of
Shares.

    

    (a)           Legal
Compliance.  Shares shall not be issued in connection with the
grant of any Stock Award or Unrestricted Share or the exercise of any Warrant or
Stock Appreciation Right unless such grant or the exercise of such Warrant or
Stock Appreciation Right and the issuance and delivery of such Shares shall
comply with Applicable Laws and shall be further subject to the approval of
counsel for the Company with respect to such compliance.

    

    (b)           Investment
Representations.  As a condition to the grant of any Stock
Award or Unrestricted Share or the exercise of any Warrant or Stock Appreciation
Right, the Company may require the person receiving such Award or exercising
such Warrant or Stock Appreciation Right to represent and warrant at the time of
any such exercise or grant that the Shares are being purchased only for
investment and without any present intention to sell or distribute such Shares
if, in the opinion of counsel for the Company, such a representation is
required.

    

    (c)           Additional
Conditions.  The Administrator shall have the authority to
condition the grant of any Award in such other manner that the Administrator
determines to be appropriate, provided that such condition is not inconsistent
with the terms of the Plan.

    

    (d)           Trading Policy
Restrictions.  Warrant and or Stock Appreciation Right
exercises and other Awards under the Plan shall be subject to the terms and
conditions of any insider trading policy established by the Company or the
Administrator.

    

    21.           Inability to Obtain
Authority.  The inability of the Company to obtain authority
from any regulatory body having jurisdiction, which authority is deemed by the
Company’s counsel to be necessary to the lawful issuance and sale of any Shares
hereunder, shall relieve the Company of any liability in respect of the failure
to issue or sell such Shares as to which such requisite authority shall not have
been obtained.

    

    22.           Shareholder
Approval.  The Plan shall be subject to approval by the
shareholders of the Company within twelve (12) months after the date the Plan is
adopted. Such shareholder approval shall be obtained in the manner and to the
degree required under Applicable Laws. Notwithstanding any provision in the Plan
to the contrary, any exercise of a Warrant or Stock Appreciation Right granted
before the Company has obtained shareholder approval of the Plan in accordance
with this Section 22 shall be conditioned upon obtaining such shareholder
approval of the Plan in accordance with this Section 22.

    

    23.           Withholding; Notice of
Sale.  The Company shall be entitled to withhold from any
amounts payable to a Service Provider any amounts which the Company determines,
in its discretion, are required to be withheld under any Applicable Law as a
result of any action taken by a holder of an Award.

     

    
      
         

      

      
        13

        
          

        

      

      
         

      

    

     

    24.           Governing Law.  This
Plan shall be governed by the laws of the State of Delaware, without regard to
conflict of law principles.

    

    Adopted
by action of the Board of Directors

    on
the twelfth day of July, 2009.

    

    
      
         

      

      
        14

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