Document:

Exhibit 10.36  

Biomira Inc. (Canada)

Employee Incentive Program  

      

      

      

January 2006

Contents  

Overview

How the Employee Incentive Program Works  

	•
	Performance Levels
	•
	Corporate Performance
	•
	Divisional
Performance

How Payouts are Made  

	•
	Individual Payout Levels
	•
	Receiving Your Payout
	•
	Tax
Implications

Payout Examples  

	•
	Example 1
	•
	Example 2

More Program Details  

	•
	Who's Eligible
	•
	Who's Eligible to Receive a Payout
	•
	Purchase or Sale of Part of the Business
	•
	The Last Word
 
	•
	Key Dates

Questions and Answers  

   Overview  

Biomira Inc.
is pleased to introduce the incentive pay plan—the Employee Incentive Program. This plan has been designed to reward
employees for team-based results. 

The
goals, or measures, are set each year for both corporate and divisional performance levels. If measures are met, employees receive a payout. However, the corporate measure can pay out
independently of divisional measures. Likewise, the divisional measures can pay out independently of the corporate measure. 

Incentive
pay is an important element—but not the only element in Biomira's total compensation program. You also receive a competitive base salary, stock options and a comprehensive
pension and benefits program. The purpose of this document is to provide details on one important element of your total compensation at Biomira—variable pay, or incentive pay. 

The
Employee Incentive Program is intended to be a dynamic plan to encourage employees to work toward, and to share in, corporate and divisional success. As part of the dynamics of this plan, and to
reflect our continually changing business environment, the Program will be reviewed by the Executive team on an annual basis to ensure it is meeting the needs of employees and the corporation. 

How the Employee Incentive Program Works  

While
Biomira includes competitive base pay as a critical component of total compensation, an equally important component is linking compensation to both company and divisional performance. This is
accomplished through the Employee Incentive Program. 

The
Employee Incentive Program is designed to reward employees for their collective efforts in supporting critically important business goals. On the corporate side, goals that increase company value
are determined. In addition, each division will set its own measures, reflecting the very different business objectives within each unit. In essence, each division will have its own incentive pay
program. 

By focusing on company and divisional performance, Biomira is encouraging employees to be more aware of their business and take actions and make decisions that support the
overall business goals.

       

      

Biomira Inc.

Employee Incentive Program 

3

 

Performance Levels  

There
are three performance levels established for both corporate and divisional measures: Threshold, Target, and Stretch, defined below: 

	Threshold	 	•	 	the minimum level of performance necessary to receive a payout
	 	 	•	 	there will be no payout for performance below Threshold
	 	 	•	 	there is an 80% probability of attaining at least Threshold performance measures
	

Target	
 	

•	
 	

the expected level of performance
	

Stretch	
 	

•	
 	

performance beyond Target
	 	 	•	 	the largest payout opportunity
	 	 	•	 	there is a 20% probability of attaining Stretch performance measures

Although
specific goals are established annually for each of the three levels, actual results may come in at any number—from below the minimum Threshold level through to, or above, the
maximum Stretch level. 

Corporate Performance  

For
the purpose of the Incentive Program, company performance will be measured by goals established prior to the start of the year or early in the applicable year. 

The
corporate goals are set to account for 40% of the total incentive payout and Divisional goals will make up the remaining 60%. 

Goals
will be weighted according to their relative importance. 

Remember,
the corporate measures can result in a payout, regardless of divisional performance. 

Divisional Performance  

Divisional
goals are determined on an annual basis by senior management within each division, with input from employees. Similar to corporate, the divisional goals (typically 1 to 4 per division),
will have three payout levels: Threshold, Target and Stretch and will be weighted according to relative importance. These goals and corresponding payout levels will be communicated on an annual basis
to the respective employees in each division. 

The
divisional goals will account for 60% of the incentive payout. And, similar to the corporate goals, attaining the divisional goal(s) can result in a payout, regardless of the corporate
performance. 

An
example of a framework for corporate and divisional goals and their possible weightings is as follows: 

	 
	 	 
	 	Threshold
	 	Target
	 	Stretch
	 	Weighting

within

Group
	 	Corporate/

Divisional

Weighting
	 
	 	 	Goal 1	 	 	 	 	 	 	 	30	%	 	 
	Corporate	 	Goal 2	 	 	 	 	 	 	 	25	%	40	%
	Goals	 	Goal 3	 	 	 	 	 	 	 	15	%	 	 
	 	 	Goal 4	 	 	 	 	 	 	 	30	%	 	 
	 	 	Goal 1	 	 	 	 	 	 	 	40	%	 	 
	Divisional	 	Goal 2	 	 	 	 	 	 	 	40	%	60	%
	Goals	 	Goal 3	 	 	 	 	 	 	 	20	%	 	 

4

 

How Payouts are Made  

Individual Payout Levels  

The
amount of payout you receive will depend on your position within the Company: Manager/Professional or Technical/Administrative as follows: 

	 
	 	 
	 	Incentive Payout (as a % of base salary)
	 
	 
	 	 
	 	Threshold
	 	Target
	 	Stretch
	 
	Manager/Professional	 	5	%	10	%	15	%
	•	 	includes those who have attained full professional status, or are employed in a profession and have equivalent knowledge through direct field experience	 	 	 	 	 	 	 
	

Technical/Administrative	
 	

2.5	
%	

5	
%	

7.5	
%
	•	 	includes techs, administrative staff, secretaries, analysts, production assistants and developing professionals	 	 	 	 	 	 	 

Base Salary Defined: Base salary is your total regular earnings (as shown on your pay stub, excluding benefits, overtime, and any other special pay).

Receiving Your Payout  

All
eligible employees will receive their incentive payout by January 31 of the following year. The lump-sum payment will be by direct deposit. This payment can be directed to your
RRSP. It will be your responsibility to ensure you do not exceed your contribution maximum. 

Tax Implications  

Incentive
earnings are considered taxable income in the year it is paid. All applicable taxes will be withheld. 

Payout Examples  

Example 1
  Payout at performance identified below: 

	 
	 	 
	 	Threshold
	 	Target
	 	Stretch
	 	Weighting

within Group
	 	Corporate/

Divisional

Weighting
	 
	 	 	Goal 1	 	 	 	x	 	 	 	30	%	 	 
	Corporate	 	Goal 2	 	 	 	 	 	x	 	25	%	40	%
	Goals	 	Goal 3	 	 	 	x	 	 	 	15	%	 	 
	 	 	Goal 4	 	 	 	x	 	 	 	30	%	 	 
	 	 	Goal 1	 	 	 	 	 	x	 	40	%	 	 
	Divisional	 	Goal 2	 	 	 	x	 	 	 	40	%	60	%
	Goals	 	Goal 3	 	 	 	x	 	 	 	20	%	 	 

5

 

Let's
take the example of John, a technician with a base salary of $35,000 and Target incentive of 5% of base salary. To calculate his incentive payout: 

	 
	 	 
	 	Threshold
	 	Target
	 	Stretch
	 	Weighting

within

Group
	 	Corporate/

Divisional

Weighting
	 	Result
	 
	 	 	Goal 1	 	 	 	5	%	 	 	30	%	40	%	0.60	%
	Corporate	 	Goal 2	 	 	 	 	 	7.5	%	25	%	40	%	0.75	%
	Goals	 	Goal 3	 	 	 	5	%	 	 	15	%	40	%	0.30	%
	 	 	Goal 4	 	 	 	5	%	 	 	30	%	40	%	0.60	%
	 	 	Goal 1	 	 	 	 	 	7.5	%	40	%	60	%	1.80	%
	Divisional	 	Goal 2	 	 	 	5	%	 	 	40	%	60	%	1.20	%
	Goals	 	Goal 3	 	 	 	5	%	 	 	20	%	60	%	0.60	%
	Total	 	 	 	 	 	 	 	 	 	 	 	 	 	5.85	%

$35,000
(base salary) X 5.85% (John's incentive payout as a % of base salary) = $2,047.50 

John receives an incentive payout of $2,047.50.  

 Example 2
  Payout at performance identified below: 

	 
	 	 
	 	Threshold
	 	Target
	 	Stretch
	 	Weighting

within

Group
	 	Corporate/

Divisional

Weighting
	 
	 	 	Goal 1	 	x	 	 	 	 	 	30	%	 	 
	Corporate	 	Goal 2	 	 	 	x	 	 	 	25	%	40	%
	Goals	 	Goal 3	 	 	 	x	 	 	 	15	%	 	 
	 	 	Goal 4	 	 	 	x	 	 	 	30	%	 	 
	 	 	Goal 1	 	 	 	 	 	x	 	40	%	 	 
	Divisional	 	Goal 2	 	 	 	x	 	 	 	40	%	60	%
	Goals	 	Goal 3	 	 	 	x	 	 	 	20	%	 	 

Let's
take a different example of Lea, a manager with a base salary of $60,000 and a Target incentive of 10% of base salary. To calculate her incentive payout: 

	 
	 	 
	 	Threshold
	 	Target
	 	Stretch
	 	Weighting

within

Group
	 	Corporate/

Divisional

Weighting
	 	Result
	 
	 	 	Goal 1	 	5	%	 	 	 	 	30	%	40	%	0.60	%
	Corporate	 	Goal 2	 	 	 	10	%	 	 	25	%	40	%	1.00	%
	Goals	 	Goal 3	 	 	 	10	%	 	 	15	%	40	%	0.60	%
	 	 	Goal 4	 	 	 	10	%	 	 	30	%	40	%	1.20	%
	 	 	Goal 1	 	 	 	 	 	15	%	40	%	60	%	3.60	%
	Divisional	 	Goal 2	 	 	 	10	%	 	 	40	%	60	%	2.40	%
	Goals	 	Goal 3	 	 	 	10	%	 	 	20	%	60	%	1.20	%
	Total	 	 	 	 	 	 	 	 	 	 	 	 	 	10.60	%

$60,000
(base salary) X 10.60% (Lea's Target incentive payout as a % of base salary) = $6,360. 

Lea receives an incentive payout of $6,360.  

6

 

More Program Details  

Who's Eligible  

All
regular full-time, salaried employees are eligible to participate in this Program. Regular part-time employees are also eligible. Their payout will be prorated based on the
hours worked throughout the year (January 1 to December 31). 

Employees
who are hired during the Program year will be eligible effective their date of last hire for the Incentive Program, their payout will be prorated from their date of last hire. Payouts for
employees who transfer between the various divisions will be calculated and prorated based on the time spent in each division. Any change to an employee's variable pay level will also be prorated for
the time spent at each level. 

Temporary,
casual and contract employees are not eligible to participate in the Employee Incentive Program. 

Who's Eligible to Receive a Payout  

To
receive a payout from the Incentive Program, you must be employed by the company on December 31 of the Program year. If you have resigned before that date or been terminated, whether with or
without cause, from employment before that date you will not be eligible for a payout. 

There
are exceptions: If you retire as defined by the company pension plans, become disabled, or go on an approved leave of absence during the year, you will receive a payout for the portion of the
year you worked. If you die during the Program year, your beneficiary will receive a payout for the portion of the year you worked. 

Purchase or Sale of Part of the Business  

If
another (or part of another) company is purchased by Biomira or a part of Biomira is sold or spun out during the year, affected employees will receive a modified payout. Departing Biomira employees
will receive a payout at the Target level prorated for the portion of the year you were an employee of Biomira. 

The Last Word  

Biomira's
Employee Incentive Program is designed to reward you when the company and your division meet or exceed their performance goals. With this Program, you have the opportunity to increase your
cash compensation when the company and division do well. And in those years when business targets are not met, you continue to earn a competitive base salary. Both the base pay and incentive pay plans
work together to reward you for your contribution to Biomira's success. 

Key Dates  

	Corporate Performance Measures Set	 	Fourth Quarter for next Program year
	

Divisional Measures Set	
 	

Fourth Quarter for next Program year
	

Performance Updates	
 	

Quarterly (Divisional and Corporate)
	

Incentive Program Payouts	
 	

Prior to January 31

7

 

Questions and Answers  

	Q:
	Why has Biomira implemented an Employee Incentive Program?

	A:
	There
are a number of reasons including:

	•
	The
overall intent is to develop a program that helps focus all employees on business success by including both corporate and divisional achievements in the design

	•
	The
fact that other high performing companies have, or are considering, incentive plans for their employees. Surveys of compensation practices of high performing companies
indicate that their pay mix is shifting from fixed (base pay) to variable (incentive pay)

	•
	The
demands of our marketplace necessitate the development of a program that is appropriate for a technology-based company

 

	Q:
	Who is eligible to participate in the Program?

	A:
	Eligibility
for participation in the Incentive Program is established as follows:

	•
	Employees: Regular full and part time employees

	•
	New hires: prorated based on last start date

	•
	Regular part-time: prorated based on time worked in a given year

	•
	Transfers: prorated based on the time spent in each division

	•
	Leave of Absence: prorated based on time worked in a given year

	•
	Involuntary Leave-Short Term Disability: prorated for any absence that exceeds 2 months of continuous absence or
40 working days in a calendar year

	•
	Eligible Retirement: prorated based on time worked

	•
	Resignation or Termination (with or without cause): no payout

	•
	Death: prorated based on time worked during the year; payout to eligible beneficiary or estate

	•
	Employment: must be employed on December 31

	•
	Temporary and casual, including summer students: not eligible to participate

	•
	Contract employees: not eligible to participate (the incentive may be built into a long term contract at the time of hire)

 

	Q:
	How does the plan work?

	A:
	The
Employee Incentive Program features specific goals within two areas—corporate and divisional. Three levels of measurements are established for each goal: Threshold,
Target, and Stretch. The plan is designed so that both the corporate and divisional results must meet at least the Threshold level in order for employees to receive payouts from both areas.

	

	However,
if the corporate measures are met but not the divisional, 40% of the incentive payout will be made. If the divisional measures are met but not the
corporate, 60% of the incentive payout will be made.

	Q:
	Why is the Program designed around the two areas—corporate and divisional?

	A:
	Many
companies set multiple goals as part of the overall design of their incentive plan. The goals chosen are intended to reflect the overall philosophy of the company for awarding
incentive pay. 

8

 

Goals
can be set for overall corporate, division, team, individual, or some combination of these groups. 

	

	Corporate
goals were established because the corporation must be successful in achieving its annual objectives to demonstrate progress and retain the
confidence of its shareholders.

	

	Divisional
goals were chosen for two reasons. It is Biomira's intent to reward team-based results, both corporate wide and within the division.
Also, it is important that employees be able to see and understand how their efforts and contributions can affect performance results. While some people may feel it is difficult for them to directly
influence corporate results; most, if not all, employees within a division can affect the outcome of divisional goals.

	Q:
	Is there a chance the Employee Incentive Program will not pay out?

	A:
	Yes.
If the Threshold corporate measures are not attained, and if the Threshold measures for your division are not attained, you will not receive a payout. Other employees in different
divisions may still be eligible for a payout, however, provided at least the Threshold measures were attained within their division.

	Q:
	Will all employees receive the same payout?

	A:
	The
amount of payout an employee receives is based on two circumstances—first, how well the corporation and the division(s) performed relative to the measures set. Second,
the actual payout amount received will depend on the employee's position within the company: Manager/Professional (from 5% to 15% of their base earnings), or Technical/Administrative (from 2.5% to
7.5% of their base earnings).

	Q:
	How much can I expect to earn?

	A:
	The
payout will be a percentage of your base salary and will be determined based on the level of results attained for both the corporate and divisional measures (Threshold, Target,
Stretch), and on your position within Biomira, as follows: 

	 
	 	Threshold
	 	Target
	 	Stretch
	 
	Manager/Professional	 	5	%	10	%	15	%
	Technical/Administrative	 	2.5	%	5	%	7.5	%

	

	The
plan will therefore payout anywhere from the minimum Threshold level within the measure (division or corporate) to the maximum Stretch level within the
measure.

	Q:
	How will my payout be calculated if I receive a salary increase during the year?

	A.
	Your
regular earnings as reported on your paystub will be used to calculate your payout. Regular earnings at the end of the year will have taken into account any changes to your
regular earnings, such as a salary increase. Regular earnings excludes any overtime, premiums, bonuses, taxable benefits or cash in lieu of benefits.

	Q:
	What if my variable pay level changes during the year?

	A.
	Your
payout will be prorated for the time spent at each level. So, if you were at a 5% Technical/Administrative level and were increased to the Manager/Professional Level of 10% on
July 1st, your payout would be prorated 6 months at the 5% level and 6 months at the 10% level.

	Q:
	Why are there two levels of payout based on the position of the employee?

	A:
	If
we hit at least the minimum Threshold level and there is a payout, the amount each employee receives will depend on their position within the Company. This decision was made based
on 

9

 

comparative
market practices. We went to the external market and looked at our comparator companies to see what they were doing in terms of distributing a payout. 

We found that for most companies, the higher the level of responsibility for the individual, the higher the portion of variable pay within the individual's total compensation
package. We designed our Incentive Program to reflect this market practice.

	Q.
	What is the definition of professional in Biomira?

	A:
	Examples
of professions currently employed in Biomira are the following: finance/accounting, information technology, human resources, regulatory affairs, clinical affairs, quality
assurrance and scientist. Some are governed by a professional body external to the organization (e.g. The Canadian Institute of Chartered Accountants). In each of these professions the qualification
for professional status is university graduation supplemented by some practical experience.

	

	Since
an external body does not govern some of the professions, Biomira will use the same principles noted above to determine when someone meets that
standard.

	Q:
	Can people without university degrees be classified as professionals?

	A:
	Yes,
if the work they are performing is included in the list of professions identified by the company and
they have demonstrated a full understanding of their field of work. They must be able to show an understanding of the theory and concepts of the area of work and be able to apply the principles in the
organization. Practical experience can be a way to gain theoretical knowledge. The amount of time to achieve professional status will be a combination of formal education and practical
experience—the less education, the more practical experience.

	Q:
	How are the actual numbers established for each of the three measures (Threshold, Target and Stretch)?

	A:
	The
measures are set based on input from a variety of sources: industry data, past performance, senior divisional leaders, the Executive team and, of course, employees.

	Q:
	How are the numbers finalized?

	A:
	The
measures are finalized based on the probability of actually attaining the set measures, as follows: 

	•	 	Threshold	 	—there is an 80% probability the measure will be attained
	•	 	Target	 	—the expected outcome
	•	 	Stretch	 	—there is a 20% probability the measure will be attained

	Q:
	Will the measures change each year?

	A:
	Yes,
as our business strategy changes, it will be necessary to change the corporate measures to support our corporate objectives.

	

	Divisional
measures will also change to reflect each division's strategy and priorities. The intent is to set measures that are appropriate for the
division's own strategy, measures that change as the strategy changes.

	

	In
any case, we will not set corporate or divisional measures that are not reasonably attainable. This is why we set a range of levels (Threshold, Target
and Stretch), so that there is a good chance (80%) at least Threshold will be attained and a payout will result. And, once a plan year begins, we do not intend to change the measures midway through
the plan year, unless there is a substantial change in our business. 

10

 
	Q:
	How will we know how well we are doing?

	A:
	We
are committed to timely, effective communication to ensure that all employees know exactly where we stand relative to our goals. Updates at Quarterly meetings will continue to be
the primary source of information for corporate results. Divisions will provide updates with respect to their performance. In this way, we can support our collective efforts to reach our maximum
performance targets.

	Q:
	Will I receive cash?

	A:
	Payout
will be cash paid out by separate direct deposit in addition to your regular paycheque or may be directed to your RRSP account. If paid in cash, applicable income taxes will be
withheld.

	Q:
	When will I get paid?

	A:
	Biomira
will make every effort to pay out before the end of January following the completion of the previous year's plan. This will allow enough time for the financial results to be
calculated and deposits made or funds directed to your RRSP account before the close of the RRSP season.

	Q:
	What happens if I take a leave of absence?

	A:
	If
you take a leave of absence, retire as defined by the company pension plans, or die during the Program year, you will receive a payout based on your regular earnings as reported on
your pay stub.

	Q:
	What happens if I go on Short Term Disability during the year?

	A.
	When
an employee's total accumulated involuntary leave or short term disability exceeds 2 months of continuous absence or 40 working days in the calendar year, an employee's
Variable Pay will be prorated. In the event that the employee returns to work on a partial work schedule, the Variable Pay will be prorated to the work schedule. It is the Manager/Supervisor's
responsibility to track and maintain accurate records of the absence.

	Q:
	What happens if I terminate my employment near the end of the Program year, or in early January?

	A:
	You
must be employed by the Company on December 31 of the Program year. If you have resigned or have been terminated, whether with or without cause, from employment prior to
December 31 you will not receive any payout. The exceptions are outlined in the previous question. You may tender your resignation before December 31 with a January effective date and
still qualify for a payout.

	Q:
	What happens if the part of the business I work in is sold or spun out during the year.

	A:
	You
will receive a payout at the Target level. The payout will be for the portion of the year you were an employee of Biomira. For example, if the transaction is effective
May 1, you will receive 4/12 X the Target level X your regular earnings as on your pay stub.

	Q:
	How will the plan be maintained?

	A:
	The
plan and its outcomes will be reviewed at the end of each year by the Executive to ensure it continues to reflect business performance and priorities. 

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Exhibit 10.37  

 
 

BIOMIRA INC. SUBSCRIPTION AGREEMENT    

        This
agreement (this "Agreement") is dated January 26, 2006 between                        ("Buyer") and Biomira Inc., a
Canadian corporation ("Seller"), whereby the parties agree
as follows; 

        Buyer
hereby agrees to buy and Seller hereby agrees to sell US $            of units, each unit consisting of one share of Seller's common stock and immediately separable warrants to
purchase shares of Seller's common stock, which warrants shall have a strike price of US $2.50, a term of three (3) years, commencing 181 days after the date hereof, and shall otherwise
be in the form of Exhibit A attached hereto. The aggregate number of shares of common stock issuable upon exercise of the warrants to be issued
to Buyer shall equal 25% of Buyer's aggregate purchased shares. Each unit shall have a purchase price of US $            . Buyer represents to Seller that Buyer is purchasing the shares and
warrants as principal for its own account for investment and has no present plans, arrangements or obligations to sell any of the shares or warrants to any other person. Buyer is not subject to any
restriction on its purchase by virtue of NASD Rule 2110. Further, Buyer represents to Seller that Buyer's activities with respect to the shares, warrants and warrant shares will be in
compliance with all applicable Canadian securities laws, rules and regulations and the rules and regulations of the Toronto Stock Exchange. Seller represents to Buyer that Seller's activities with
respect to the shares, warrants and warrant shares will be in compliance with all applicable Canadian securities laws, rules and regulations and the rules and regulations of the Toronto Stock
Exchange. 

        Purchase
of the shares and warrants shall be on a delivery versus payment basis on the closing date. 

        The
shares of common stock, the warrants and the shares of common stock issuable upon exercise of the warrants have been registered on a registration statement on
Form F-10, File No. 333-116861 (the "Registration Statement"), which Registration Statement has been declared effective by the Securities and Exchange Commission
and will be effective on the delivery date of the shares and warrants. Seller represents and warrants to Buyer that the sale of the shares of common stock and the warrants as set forth in the
Prospectus, as supplemented, which forms a part of the Registration Statement, has been duly authorized by the Company, and that the shares of common stock, the warrants and the shares of common stock
issuable upon exercise of the warrants have been duly authorized for issuance, and all of such shares and warrants will be, upon payment therefor, validly issued, fully paid and
non-assessable and free from all taxes, liens and charges with respect to the issue thereof. The shares will be delivered in electronic form via the DTC DWAC system to the Buyer's
account set forth below and must be free of any resale restrictions. The warrant
certificates will be delivered in physical form to Buyer's address set forth below. Seller agrees to file a prospectus supplement under Rule 424(b)(5) or equivalent regarding the sale of
the shares and warrants to Buyer as soon as practicable following the date hereof. 

        Seller's
wire instructions are as follows: 

Intermediary
Bank 

Final
Beneficiary Bank 

Reference:

        Notwithstanding
any provision to the contrary in this Agreement, this Agreement is subject to compliance with applicable regulatory requirements and the approval of the Toronto Stock
Exchange with respect to the transactions contemplated hereby. 

        This
Agreement shall be construed and enforced to accordance with, and all questions concerning the construction, validity, interpretation and performance of this Agreement shall be
governed by, the internal laws of the Province of Alberta and the laws of Canada applicable therein, without giving effect to any choice of law or conflict of law provision or rule (whether of the
Province of Alberta or 

any
other jurisdictions) that would cause the application of the laws of any jurisdictions other than the Province of Alberta (and the laws of Canada applicable therein). 

	 	 	AGREED AMD ACCEPTED:
	 	 	SELLER:
	

 	
 	

BIOMIRA INC.
	

 	
 	

By:	

 
	 	 	 	
 Name: Edward A. Taylor

Title: Vice President & CFO
	

 	
 	

AGREED AND ACCEPTED:
	 	 	BUYER:
	

 	
 	

(name of Buyer)
	

 	
 	

By:	

 
	 	 	 	
 Name:

Title:

Buyer's
DWAC Account Delivery Instructions: 

Buyer's
address for physical delivery of warrant certificates: 

 
 

Schedule 1    
    

	Buyer
 
	 	Consideration (US)
	 	Per Unit Purchase Price (US)

	Bristol Investment Fund, Ltd.	 	$	500,000	 	$	1.52
	Castle Creek Technology Partners LLC	 	$	300,000	 	$	1.60
	Cimarron Biomedical Equity Master Fund L.P.	 	$	280,000	 	$	1.60
	Topwater Exclusive Fund II LLC	 	$	120,000	 	$	1.60
	Cranshire Capital, L.P	 	$	500,000	 	$	1.60
	D.E. Shaw Valence Portfolios, L.L.C.	 	$	2,500,000	 	$	1.52
	Diamond Opportunity Fund, LLC	 	$	500,000	 	$	1.60
	DKR Sound Shore Oasis Holding Fund Ltd.	 	$	300,00	 	$	1.60
	Eagle Rock Institutional Partners, L.P.	 	$	532,000	 	$	1.52
	Eagle Rock Master Fund, L.P	 	$	988,000	 	$	1.52
	Enable Growth Partners LP	 	$	1,168,000	 	$	1.52
	Enable Opportunity Partners LP	 	$	192,000	 	$	1.52
	Pierce Diversified Strategy Master Fund LLC	 	$	240,000	 	$	1.52
	Hudson Bay Fund, LP	 	$	1,000,000	 	$	1.52
	Iroquois Master Fund, Ltd	 	$	350,000	 	$	1.52
	James R. Davis	 	$	300,000	 	$	1.60
	Nite Capital, LP	 	$	1,500,000	 	$	1.60
	Radcliffe SPC, Ltd.	 	$	1,000,000	 	$	1.52
	RAQ, LLC	 	$	300,000	 	$	1.52
	Red Abbey Fund L.P. *cancelled*	 	$	100,000	 	$	1.52
	RHP Master Fund, Ltd.	 	$	500,000	 	$	1.52
	Spectra Capital Management LLC	 	$	250,000	 	$	1.52
	Springvest Corporation	 	$	500,00	 	$	1.60
	The Tail Wind Fund Ltd.	 	$	600,000	 	$	1.52
	Truk International Fund, LP	 	$	71,999.36	 	$	1.60
	Truk Opportunity Fund, LLC	 	$	728,008.96	 	$	1.60
	Whalehaven Capital Fund Limited	 	$	750,000	 	$	1.52

QuickLinks

BIOMIRA INC. SUBSCRIPTION AGREEMENT

Schedule 1

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