Document:

Lease between Peplin Operations Pty Ltd and Garrels Investments Pty Ltd

 Exhibit 10.19 
  

					
	QUEENSLAND LAND REGISTRY	  	 LEASE/SUB LEASE
	 	Form 7 Version 6
	Land Title Act 1994, Land Act 1994 and Water Act 2000	 	Page 1 of 41

  

			
		  	Dealing Number
		
	

	  	OFFICE USE ONLY
	Privacy Statement	  	

  

			
	Collection of this information is authorized by the Land Title Act 1994 the Land Act 1994 and the Water Act 2000 and is used to maintain the publicly searchable registers in the land
registry and the water register. For more information about privacy in NR&W see the department’s website.	  	

  

													
	 1.
	 	Lessor	 	 	  	 	 	Lodger (Name, address, E-mail & phone number)	 	Lodger
					
		 	Garrels Investments Pty Ltd 	 		  		 	Code 23
		 	ACN 072 966 057 as trustee under instrument no. 701441864	 		  		 	Corrs Chambers Westgarth	  		 	
		 		 		  		 	Lawyers	  		 	
		 		 		  		 	1 Eagle Street	  		 	
		 		 		  		 	BRISBANE QLD 4000	  		 	
		 		 		  		 	MBaldwin	  		 	
		 		 		  		 	(07) 3228 9751 9039550	  		 	
	 	 	 	 	 	  	 	 	prime.legal@corrs.com.au	  	 	 	 

																	
					
	 2.
	  	Lot on Plan Description	    	County	  	Parish	  	Title Reference
	 	  	Lot 88 on CP WD807033	    	Ward	  	Nerang	  	50132198	  	 
					
	 3.
	  	Lessee	  	Given names	    	Surname/Company name and number	  	        (include tenancy if more than one)
				
		  		    	Peplin Operations Pty Ltd	  	
	 	  	 	    	ACN 093 317 367	  	 
		
	 4.
	  	Interest being leased
		
	 	  	Fee Simple
		
	 5.
	  	Description of premises being leased
		
	 	  	The whole of the land
							
	 6.
	  	Term of lease	    		  	7.	  	Rental/Consideration	  		  	
					
		  	Commencement date: 1 June 2007	  	See Enlarged Panel	  		  	
		  	Expiry date: 31 May 2012	  		  		  		  	
		  	#Options:	  		  		  		  	
	 	  	#Insert nil if no option or insert option period (eg 3 years or 2 x 3 years)	  	 
								
	 8.
	  	Grant/Execution	    		  		  		  		  		  	
	
	The Lessor leases the premises described in item 5 to the lessee for the term stated in item 6 subject to the covenants and conditions contained in the attached schedule

 Witnessing officer must be aware of his/her obligations under section 162 of the Land Title Act 1994 

  

					
	 signature
	 		 	Garrels Investments Pty Ltd ACN 072 966 057
			
	 full name
	 		 	 /s/ [ILLEGIBLE]

		 		 	Director
		 		 	
	 qualification
	 		 	 /s/ [ILLEGIBLE]

		 	28/5/07	 	Director/Secretary
	Witnessing Officer	 	Execution Date	 	Lessor’s Signature
	 (Witnessing officer must be in accordance with
 Schedule 1 of Land Title Act 1994 eg Legal
 Practitioner, JP, C Dec)
	 	 

  

			
	9.	  	Acceptance

 The lessee accepts the lease and acknowledges the amount payable or other considerations for the lease. 
  

									
		 		 		 	Peplin Operations Pty Ltd ACN 093 317 367
	/s/ William Haoville	 	signature	 		 		 	
	William Haoville	 	full name	 		 	 /s/ Peter James Welburn

	Real Estate Agent	 	qualification	 		 	Name:  Peter James Welburn
		 		 		 	Authorised officer
				
		 		 		 	 /s/ David James Baillie Smith

		 		 		 	Name:  David James Baillie Smith
		 		 	28/5/07	 	Authorised officer
	Witnessing Officer	 	Execution Date 	 	Lessee’s Signature
	 (Witnessing officer must be in accordance
 with Schedule 1 of
Land Title Act 1994 eg
 Legal Practitioner, JP, C Dec)
	 		 	

  

					
	 QUEENSLAND LAND REGISTRY
	  	 ENLARGED PANEL
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 2 of 41

 Title Reference 50132198 
  

 This is the Enlarged Panel referred to in Item 7 of the Lease 
 7. Rental/Consideration 
 Part A – Rent and Rent Reviews 
 CPI and Market only 
  

	A.1	Further definitions 

 In this Lease unless the contrary intention appears:

 Appointment Date means the date the person appointed under clauses A.11 or A.12 gives to the last of the Landlord and the Tenant
the Notice under clause A.14(d) that the person agrees to act as Valuer. 
 Australian Institute of Valuers means the Queensland Division
of the Australian Institute of Valuers and Land Economists. 
 CPI Number means the All Groups Consumer Price Index Number for the City of
Brisbane as determined by the Australian Bureau of Statistics or other authority or instrumentality having jurisdiction in the matter. 
 Criteria means the matters described in clause A.16. 
 Current Market Rent means the amount per annum equivalent to the
current market rental value of the Premises as at a relevant Market Review Date based on the Criteria. 
 Indexation Review Date means the date
(and if more than one, each of the dates) specified in the schedule. 
 Landlord’s Assessment means the Landlord’s assessment of the
Current Market Rent as specified in the Landlord’s Notice. 
 Landlord’s Notice means a written notice given by the Landlord to the
Tenant under clause A.6. 
 Market Review Date means the date (and if more than one each of the dates) specified in the schedule and at
the election of the Landlord the first day of any holding over period. 
 Market Review Area means the location described in the schedule.

 Notice of Appointment means a written notice given by the Landlord to the person appointed as Valuer, under clause A.13. 
 Notice of Nomination means a written notice given by the Landlord to the Tenant under clause A.11(b). 
 Notice of Rejection means a written notice given by the Tenant to the Landlord strictly in accordance with clause A.11(c). 
 Notice of Selection means a written notice given by the Landlord to the Tenant under clause A.12. 
 President’s Notice means a written notice given by the president or other principal officer of the Australian Institute of Valuers to each of the
Landlord and the Tenant under clause A.12. 
 Quarter means any three month period ending on 31 March, 30 June,
30 September or 31 December (as the case may be). 
 Review Date means each Indexation Review Date and each Market Review Date.

					
	 QUEENSLAND LAND REGISTRY
	  	 ENLARGED PANEL
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 3 of 41

 Title Reference 50132198 
  

 Tenant’s Notice means a written notice given by the Tenant to the Landlord strictly in accordance
with clause A.8. 
 Valuer means a person appointed under clause A.11 or clause A.12 to determine the Current Market Rent
who complies with clause A.14. 
  

	A.2	Consumer Price Index Review 

 The Base Rent shall be reviewed on each
Indexation Review Date to an amount being the greater of: 
  

	 	(a)	104% of the Base Rent payable immediately preceding the relevant Indexation Review Date; and 

  

	 	(b)	an amount calculated under the following formula: 

  

					
	A =	 	(B x C)	 	
		 	D	 	

 Where: 
 A means the Base Rent payable on and from the relevant Indexation Review Date. 
 B means the Base Rent payable immediately
preceding the relevant Indexation Review Date. 
 C means the CPI Number for the Quarter immediately preceding the relevant Indexation Review
Date. 
 D means the CPI Number for the Quarter immediately preceding the later of the Commencement Date and the Review Date which immediately
precedes the relevant Indexation Review Date. 
  

	A.3	Modification of CPI Number 

 If: 
  

	 	(a)	the CPI Number or the method or manner of computation of the CPI Number is modified at any time in a substantial or significant manner; 

  

	 	(b)	the CPI Number is discontinued or abandoned; or 

  

	 	(c)	for any reason it is not possible to calculate the Base Rent under clause A.2(b), 

 the amount under clause A.2(b) shall be calculated based upon the index or criteria nominated by the Australian Bureau of Statistics, on the application of the Landlord as best measuring the variation in the cost of
living in the City of Brisbane for the period in question or, if the Australian Bureau of Statistics does not nominate such index or criteria within 20 Business Days after application by the Landlord, based upon such index or criteria nominated by a
practising member in Queensland of the Institute of Chartered Accountants in Australia appointed by the Landlord. 

					
	 QUEENSLAND LAND REGISTRY
	  	 ENLARGED PANEL
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 4 of 41

 Title Reference 50132198 
  

	A.4	Indexation Interim Base Rent 

 Pending the calculation under clause A.2
the Base Rent payable by the Tenant from the relevant Indexation Review Date shall be the amount referred to in clause A.2(a). That amount shall be payable as Base Rent until any calculation under clause A.2(b) has effect. If the
amount calculated under clause A.2(b) is greater than the amount referred to in clause A.2(a) the Tenant shall pay to the Landlord on demand the amount being the difference between the amount paid since the relevant Indexation Review
Date and the amount which would have been payable had the amount so calculated been the amount paid from the relevant Indexation Review Date. 
  

	A.5	Market Review 

 The Base Rent shall be reviewed on each Market Review Date to
an amount being the greater of: 
  

	 	(a)	the Base Rent payable immediately preceding the Market Review Date; and 

  

	 	(b)	the Current Market Rent. 

 The determination of Current Market Rent shall take
place under clauses A.6 to A.21. 
  

	A.6	Landlord’s Notice 

 The Landlord may, at any time prior to six months
before a Market Review Date, give a Landlord’s Notice advising the amount of the Landlord’s Assessment. If a Landlord’s Notice is not given within the requisite period, the Base Rent payable on and from the relevant Market Review Date
shall be the amount referred to in clause A.5(a). 
  

	A.7	Market Interim Base Rent 

 Unless and until there is agreement or a
determination to the contrary under clauses A.8 to A.17, the Base Rent payable shall be the amount referred to in clause A.5(a). Upon any agreement or determination to the contrary clause A.19 or clause A.20, as
required, shall apply. 
  

	A.8	Tenant’s Notice 

 The Tenant may within 20 Business Days after the date
the Landlord’s Notice is given, by a Tenant’s Notice, dispute that the Landlord’s Assessment is the Current Market Rent. Time is of the essence of this clause A.8. 
  

	A.9	Purpose of provisions 

 If a Tenant’s Notice is given, the Landlord and
the Tenant shall each use their best endeavours in good faith to implement clauses A.10 to A.15 so as to provide an inexpensive and expeditious method of determining the Current Market Rent. 

					
	 QUEENSLAND LAND REGISTRY
	  	 ENLARGED PANEL
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 5 of 41

 Title Reference 50132198 
  

	A.10	Determination of dispute by agreement 

 If a Tenant’s Notice is given, the
Landlord and the Tenant shall endeavour to agree upon the Current Market Rent within ten Business Days of the Tenant’s Notice being given. 
  

	A.11	Agreed appointment of Valuer 

  

	 	(a)	If the Landlord and the Tenant do not agree upon the Current Market Rent under clause A.10 within the period referred to in clause A.10, the determination of the Current Market
Rent shall be referred to a Valuer appointed under this clause A.11. 

  

	 	(b)	The Landlord must promptly give a Notice of Nomination to the Tenant nominating a person as the Valuer. 

  

	 	(c)	The Tenant may within ten Business Days after the date the Notice of Nomination is given, by a Notice of Rejection dispute that the person named in the Notice of Nomination is the Valuer and
nominate a person as the Valuer. Time is of the essence of this clause A.11(c). 

  

	 	(d)	If a Notice of Rejection is not given, the person named in the Notice of Nomination shall be the Valuer. 

  

	 	(e)	If: 

  

	 	(i)	a Notice of Nomination is not given within 20 Business Days after the expiry of the period referred to in clause A.10; or 

  

	 	(ii)	a Notice of Rejection is given, 

 the Landlord and the Tenant shall endeavour
to agree upon the Valuer for the determination of the Current Market Rent. If within ten Business Days after: 
  

	 	(iii)	the 20 Business Day period referred to in clause A.11(e)(i); or 

  

	 	(iv)	the date the Notice of Rejection is given, 

 the Landlord and the Tenant do
not agree on the Valuer to be appointed such Valuer shall be appointed under clause A.12. 
  

	A.12	Alternate appointment of Valuer 

  

	 	(a)	If: 

  

	 	(i)	a Valuer is not appointed under clause A.11; 

  

	 	(ii)	the Valuer appointed under clause A.11 does not comply with clause A.14; or 

  

	 	(iii)	the Valuer appointed under clause A.11 does not comply with clause A.15, 

 the Landlord or the Tenant may at any time request the president or other principal officer for the time being of the Australian Institute of Valuers to immediately give a President’s Notice nominating not less than three
persons, who comply with clauses A.14(a), A.14(b) and A.14(c), 

					
	 QUEENSLAND LAND REGISTRY
	  	 ENLARGED PANEL
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 6 of 41

 Title Reference 50132198 
  

 
to act as the Valuer. The President’s Notice shall not include the person named in the Notice of Nomination or the person named in the Notice of Rejection.

  

	 	(b)	The Landlord shall within ten Business Days of the date the President’s Notice is given, by a Notice of Selection appoint one of the persons nominated in the President’s Notice as
the Valuer. If a Notice of Selection is not given within such ten Business Day period the person first nominated in the President’s Notice shall be the Valuer. 

  

	 	(c)	If: 

  

	 	(i)	the President’s Notice includes the person named in the Notice of Nomination or the person named in the Notice of Rejection; or 

  

	 	(ii)	the Valuer appointed under this clause A.12 does not comply with clause A.14 or clause A.15, 

 the Landlord or the Tenant may at any time and from time to time again request the president or other principal officer of the Australian Institute of Valuers to
immediately give a further President’s Notice. 
  

	A.13	Notice of Valuer’s appointment 

 Upon the appointment of a person under
clause A.11 or clause A.12 as the Valuer the Landlord shall immediately give a Notice of Appointment notifying the person so appointed of the appointment. The Landlord shall not be required to give a Notice of Appointment if the person
appointed as Valuer has previously agreed to act in conformity with clauses A.15 and A.16 by written notice to the Landlord and the Tenant. The Landlord shall deliver to that person with the Notice of Appointment, a copy of this Lease.
The Landlord shall immediately give a copy of the Notice of Appointment to the Tenant. 
  

	A.14	Validation of Valuer’s appointment 

 The appointment of a person as the
Valuer shall not have any force or effect unless the person appointed: 
  

	 	(a)	at all times during the currency of the appointment is a member of the Australian Institute of Valuers; 

  

	 	(b)	has, as at the date of the appointment, not less than five years personal practice as a valuer carrying out valuations of premises used for the Permitted Use, the last of which involved from
time to time valuations of such premises in the Market Review Area; 

  

	 	(c)	at all times during the currency of the appointment is not prohibited or restricted from undertaking such determination; and 

  

	 	(d)	agrees to act in conformity with clauses A.15 and A.16 by written notice to the Landlord and the Tenant either before the Notice of Appointment is given or within five Business
Days after the date the Notice of Appointment is given. 

					
	 QUEENSLAND LAND REGISTRY
	  	 ENLARGED PANEL
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 7 of 41

 Title Reference 50132198 
  

	A.15	Determination by Valuer 

 The Valuer shall determine the Current Market Rent.
The Valuer shall act as an expert and not as an arbitrator and any Statute relating to arbitration shall not apply. The Landlord and the Tenant may make written submissions to the Valuer as to the Current Market Rent within ten Business Days from
the Appointment Date. The Valuer shall make a determination of the Current Market Rent within 20 Business Days from the Appointment Date based on the Criteria. The Valuer shall give to the Landlord and the Tenant within such 20 Business Day period
written notice of the Current Market Rent so determined and the basis upon which such determination was made. 
  

	A.16	Criteria for determining the Current Market Rent 

  

	 	(a)	Current Market Rent shall be assessed, agreed or determined: 

  

	 	(i)	having regard to the current market rental as at the relevant Market Review Date of any comparable premises in the Market Review Area, whether that current market rental has been agreed or
determined upon a review of the rent payable or upon the grant of a demise in respect of those comparable premises; 

  

	 	(ii)	assuming that the Premises can be put to the highest and best use possible at the relevant Market Review Date under the zoning of the Land and any consents under the relevant town plan (from
time to time) whether or not that use is the same as the Permitted Use or the Tenant’s Business; 

  

	 	(iii)	having regard to the period which shall elapse between the relevant Market Review Date and the next Market Review Date or, if there is no further Market Review Date, the Expiry Date;

  

	 	(iv)	having regard to the length of the whole of the Term; 

  

	 	(v)	assuming, if the Building is destroyed or damaged on or prior to the relevant Market Review Date, that the Building has been restored at such date under the Provisions;

  

	 	(vi)	having regard to the Provisions; and 

  

	 	(vii)	having regard to any other matter which may be relevant to the determination unless excluded or negatived under this clause A.16. If the Current Market Rent is determined by the
Valuer, the Valuer’s decision as to what matters are relevant shall be binding upon the Landlord and the Tenant. 

  

	 	(b)	In assessing, agreeing upon or determining the Current Market Rent the following matters shall be disregarded so that the Current Market Rent is assessed, agreed upon or determined without
any reduction on account of such matters: 

  

	 	(i)	any period of rent abatement or reduction or other concession, inducement or arrangement, of whatsoever nature, agreed to secure in whole or in part a tenant of any premises in the Market
Review Area; 

  

	 	(ii)	any period of rent abatement or reduction or other concession, inducement or arrangement, of whatsoever nature, agreed to secure in whole or in part the demise to the Tenant of the Premises;

					
	 QUEENSLAND LAND REGISTRY
	  	 ENLARGED PANEL
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 8 of 41

 Title Reference 50132198 
  

	 	(iii)	any breach by the Tenant of any Provision on the Tenant’s part which may adversely affect the condition or rental value of the Premises. If the Current Market Rent is determined by the
Valuer, the Valuer’s decision as to what breaches shall be disregarded shall be binding on the Landlord and the Tenant; 

  

	 	(iv)	any alterations made to the Premises by the Tenant which may affect the condition or rental value of the Premises including alterations by Nutratec Pty Ltd ACN 102 473 781 and/or the Tenant
under this Lease or the Previous Lease in fitting out or otherwise altering the Premises. If the Current Market Rent is determined by the Valuer, the Valuer’s decision as to what alterations shall be disregarded pursuant to this clause, shall
be binding upon the Landlord and the Tenant; 

  

	 	(v)	the fact that part of the Term has elapsed as at the relevant Market Review Date; 

  

	 	(vi)	any rent, fee or money received by any person under any sub-lease, sub-tenancy or occupation arrangement in respect of the Premises (other than this Lease); and 

  

	 	(vii)	the value of any goodwill attributable to the Tenant’s Business or any fixtures or fittings within the Premises owned, hired or leased (other than from the Landlord) by the Tenant.

  

	A.17	Agreement or determination to be binding 

 If the Current Market Rent agreed
upon or determined under clauses A.8 to A.16 is greater than the amount referred to in clause A.5(a), the Current Market Rent so agreed or determined shall be immediately binding upon the Landlord and the Tenant and shall be the
Base Rent payable by the Tenant on and from the date calculated under clause A.6. 
  

	A.18	Costs of determination 

 The Landlord and the Tenant shall pay their own costs
of and incidental to the agreement or determination of the Current Market Rent. The costs of the Valuer shall be paid equally by the Landlord and the Tenant. 
  

	A.19	Landlord to refund any excess 

 If the Current Market Rent agreed upon or
determined under clauses A.8 to A.16 is greater than the amount referred to in clause A.5(a) and is less than the amount payable under clause A.7 the Landlord shall, upon such agreement being reached or such determination
being made: 
  

	 	(a)	refund to the Tenant the amount being the difference between the amount paid since the date calculated under clause A.6 and the amount which would have been payable had the amount so
agreed or determined been the amount paid from the date calculated under clause A.6; or 

  

	 	(b)	hold such amount on account of any other money payable by the Tenant under the Provisions. 

  

	A.20	Tenant to pay deficiency 

 If the Current Market Rent agreed upon or determined
under clauses A.8 to A.16 is greater than the amount payable under clause A.7 the Tenant shall pay to the Landlord on demand the amount being the 

					
	 QUEENSLAND LAND REGISTRY
	  	 ENLARGED PANEL
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 9 of 41

 Title Reference 50132198 
  

 
difference between the amount paid since the date calculated under clause A.6 and the amount which would have been payable had the amount so agreed or
determined been the amount paid from the date calculated under clause A.6. 
  

	A.21	Base Rent modification 

 For the purposes of this part A in the
calculation of the Base Rent payable immediately preceding any Review Date there shall be disregarded any reduction in the amount of that Base Rent due to any agreement between the Landlord and the Tenant whether under the Provisions or elsewhere in
respect of any rent free period or rent reduction period or due to any abatement of rent, suspension of the obligation to pay rent, or the delay in any prior review of the Base Rent. 

					
	 QUEENSLAND LAND REGISTRY
	  	 SCHEDULE
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 10 of 41

 Title Reference 50132198 
  

							
	Contents	  	
			
	1	  	Part 1 - Definitions	  	14
		  	1.1	  	Definitions	  	14
			
	2	  	Part 2 - Interpretation	  	16
		  	2.1	  	Statutes and regulations	  	16
		  	2.2	  	Persons include bodies corporate	  	16
		  	2.3	  	Number and gender	  	16
		  	2.4	  	Bodies and associations	  	16
		  	2.5	  	Implied covenants	  	16
		  	2.6	  	Headings	  	16
		  	2.7	  	Derivatives	  	16
		  	2.8	  	Execution as deed	  	16
		  	2.9	  	Independent obligation	  	16
		  	2.10	  	Severally bound	  	16
		  	2.11	  	Severability	  	17
		  	2.12	  	Governing law	  	17
		  	2.13	  	Clauses, provisions, parts, schedules, plans and items	  	17
		  	2.14	  	Bind all signatories	  	17
		  	2.15	  	General references	  	17
			
	3	  	Part 3 - General provisions	  	17
		  	3.1	  	Managing agent	  	17
		  	3.2	  	Payment of money	  	17
		  	3.3	  	Statement of money owing	  	17
		  	3.4	  	Holding over	  	18
		  	3.5	  	No partnership	  	18
		  	3.6	  	Landlord	  	18
		  	3.7	  	Trustee capacity	  	18
		  	3.8	  	Moratorium negatived	  	18
		  	3.9	  	Jurisdiction	  	18
		  	3.10	  	Notices	  	19
		  	3.11	  	Consent of Landlord	  	20
		  	3.12	  	Tenant’s risk and expense	  	20
		  	3.13	  	Time for performance	  	20
		  	3.14	  	Measurement of areas	  	20
		  	3.15	  	Guarantee and indemnity	  	20
		  	3.16	  	No caveat by Tenant	  	20
		  	3.17	  	Power of attorney	  	20
		  	3.18	  	Tenant not to permit or suffer prohibited matters	  	21
		  	3.19	  	Entire agreement	  	21
		  	3.20	  	Preservation of accrued rights	  	21
		  	3.21	  	Registration	  	21
			
	4	  	Part 4 - Base Rent	  	21
		  	4.1	  	Payment of Base Rent	  	21
		  	4.2	  	Broken periods	  	21
			
	5	  	Part 5 - Electricity gas water and other charges	  	21
		  	5.1	  	Charges for electricity	  	21

					
	 QUEENSLAND LAND REGISTRY
	  	 SCHEDULE
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 11 of 41

  

							
		  	5.2	  	Charges for gas	  	21
		  	5.3	  	Charges for water	  	22
		  	5.4	  	Additional rent due to alterations	  	22
		  	5.5	  	Reimbursement due to alterations	  	22
		  	5.6	  	Special services	  	22
		  	5.7	  	Council cleansing dues	  	22
		  	5.8	  	Fire equipment alteration	  	22
		  	5.9	  	Costs of Lease	  	22
		  	5.10	  	Stamp duties	  	22
		  	5.11	  	Costs of re-entry and consents	  	23
			
	6	  	Part 6 - Equipment	  	23
		  	6.1	  	Source of light and power	  	23
		  	6.2	  	Electrical overloading	  	23
		  	6.3	  	Failure of services	  	23
		  	6.4	  	Maintenance contracts	  	24
		  	6.5	  	Evidence of contracts	  	24
		  	6.6	  	Tenant not to void contract	  	24
		  	6.7	  	Tenant’s maintenance contracts	  	24
		  	6.8	  	Tenant’s maintenance contract payments	  	24
			
	7	  	Part 7 - Use of Premises	  	24
		  	7.1	  	Permitted Use	  	24
		  	7.2	  	Compliance with statutes	  	24
		  	7.3	  	Licences and permits	  	24
		  	7.4	  	Offensive or illegal conduct	  	25
		  	7.5	  	Use of appurtenances	  	25
		  	7.6	  	Protection from theft or robbery	  	25
		  	7.7	  	Cleaning	  	25
		  	7.8	  	Garden maintenance	  	25
		  	7.9	  	Rodents and vermin	  	25
		  	7.10	  	Structural overloading	  	25
		  	7.11	  	Compliance with fire regulations	  	25
		  	7.12	  	Suitability of Premises	  	25
		  	7.13	  	Smoking	  	25
			
	8	  	Part 8 - Maintenance and repair of Premises	  	26
		  	8.1	  	Condition of Premises	  	26
		  	8.2	  	Inspection by Landlord	  	26
		  	8.3	  	Painting	  	26
		  	8.4	  	Notice of Damage	  	26
			
	9	  	Part 9 - Alterations to and damage or destruction of Premises	  	26
		  	9.1	  	No alteration without consent	  	26
		  	9.2	  	Alterations required by statute	  	27
		  	9.3	  	Abatement of Rent and suspension of covenant to repair	  	27
		  	9.4	  	Landlord may terminate or reinstate	  	27
		  	9.5	  	Tenant may terminate if no reinstatement	  	27
		  	9.6	  	Surrender on termination	  	28
		  	9.7	  	Arbitration of disputes	  	28

					
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	  	 SCHEDULE
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 12 of 41

  

							
			
	10	  	Part 10 - Reservations	  	28
		  	10.1	  	Right of entry	  	28
		  	10.2	  	Resumptions	  	29
		  	10.3	  	Grant of easements	  	29
			
	11	  	Part 11 - Liabilities and indemnities	  	29
		  	11.1	  	Release of Landlord	  	29
		  	11.2	  	Interruption of services	  	30
		  	11.3	  	Tenant to notify the Landlord	  	30
		  	11.4	  	Indemnities	  	30
			
	12	  	Part 12 - Insurances	  	30
		  	12.1	  	Tenant’s insurances	  	30
		  	12.2	  	Evidence of insurance	  	30
		  	12.3	  	Tenant not to void insurance	  	30
		  	12.4	  	Tenant’s insurance policies	  	31
		  	12.5	  	Tenant’s insurance premiums	  	31
		  	12.6	  	Landlord’s insurances	  	31
		  	12.7	  	Landlord’s insurance policies	  	31
			
	13	  	Part 13 - Assignment sub-letting and mortgages	  	31
		  	13.1	  	Restriction on assignment and sub-letting	  	31
		  	13.2	  	Corporate ownership	  	33
		  	13.3	  	Trustee ownership	  	33
		  	13.4	  	Restriction on mortgaging lease	  	33
		  	13.5	  	Restriction on leasing or mortgaging fixtures	  	33
			
	14	  	Part 14 - Landlord’s title	  	33
		  	14.1	  	Quiet enjoyment	  	33
		  	14.2	  	Landlord’s successors and assigns	  	33
			
	15	  	Part 15 - Tenant’s default	  	34
		  	15.1	  	Definition of default	  	34
		  	15.2	  	Forfeiture of Lease	  	34
		  	15.3	  	Essential terms	  	35
		  	15.4	  	Damages	  	35
		  	15.5	  	Repudiation	  	35
		  	15.6	  	Interest on overdue money	  	36
		  	15.7	  	Non-waiver	  	36
		  	15.8	  	Waiver not to constitute licence	  	36
		  	15.9	  	Acceptance of money not waiver	  	36
		  	15.10	  	Tender after termination	  	36
		  	15.11	  	Landlord may rectify	  	36
		  	15.12	  	Removal of contents	  	37
			
	16	  	Part 16 - Tenant’s property	  	37
		  	16.1	  	Tenant to yield up	  	37
		  	16.2	  	Tenant’s right to remove property	  	37
		  	16.3	  	Tenant’s obligation to remove property	  	37
		  	16.4	  	Landlord’s right to remove property	  	37
		  	16.5	  	Abandoned fittings and goods	  	37

					
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	  	 SCHEDULE
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 13 of 41

  

							
			
	17	  	Part 17 - Performance security	  	38
		  	17.1	  	Bank guarantee	  	38
		  	17.2	  	Security deposit	  	38
		  	17.3	  	Claim on performance security	  	38
			
	18	  	Part 18 - Option for renewal	  	38
		  	18.1	  	Conditions of exercise of Option	  	38
		  	18.2	  	Grant of Option Term	  	38
		  	18.3	  	Execution of Lease	  	39
			
	19	  	GST	  	39
		  	19.1	  	Interpretation	  	39
		  	19.2	  	Consideration GST exclusive	  	39
		  	19.3	  	Payment of GST	  	39
		  	19.4	  	Timing of GST payment	  	39
		  	19.5	  	Tax invoice	  	39
		  	19.6	  	Adjustment event	  	39
		  	19.7	  	Reimbursements	  	40

					
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	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 14 of 41

 Title Reference 50132198 
  

 This is the schedule referred to in the Lease dated 
  

	1	Part 1 — Definitions 

  

	1.1	Definitions 

 In this Lease unless the contrary intention appears:

 Agreement means the written agreement (if any) for the grant and acceptance of this Lease as described in the schedule. 
 Air Conditioning Equipment means all plant and equipment in the Premises used for the production and reticulation of chilled water or conditioned or
circulating air and includes, without limitation, all compressors, condensers, chiller sets, pumps, pipework, switchboards, wiring, thermostats, controls, cooling towers, air handling units and duct work but does not include any air conditioning
equipment owned, hired or leased (other than from the Landlord) by the Tenant. 
 Alteration Percentage means the percentage specified in the
schedule. 
 Appurtenances means all plant and equipment, water closets, lavatories, grease traps, plumbing, water apparatus, wash basins,
bathrooms, gas fittings, fences, partitions, electrical and communication fittings, apparatus and other services contained in the Premises and includes, without limitation, the Equipment, Air Conditioning Equipment and Fire Equipment. The expression
includes any part of the Appurtenances. 
 Bank Guarantee means an irrevocable undertaking by a bank approved by the Landlord to pay an amount or
amounts of money to the Landlord upon demand, without recourse to the Tenant, and containing such terms as the Landlord may think fit. 
 Base
Rent means the amount per annum specified in the schedule as varied from time to time under the Provisions. 
 Building means the buildings
and structures which form part of the Premises together with any modification, extension or alteration made from time to time to those buildings or structures and includes, without limitation, all Appurtenances for the Building. The expression
includes any part of the Building. 
 Business Day means any day other than a Saturday, Sunday or public holiday appointed throughout the State
of Queensland. 
 Claims means actions, demands, losses, injuries, damages, suits, judgments, injunctions, orders, decrees, costs and expenses of
every description and includes, without limitation, consequential losses and damages. 
 Commencement Date means the first date specified in item
6 of the form 7 and repeated in the schedule. 
 Corporations Act means the Corporations Act 2001 (Cth) and the Corporations
Regulations made under it, as amended from time to time. 
 Council means the local authority or the council as constituted under either the
Local Government Act 1993 within the area (as defined by that legislation) in which the Premises are located. 
 Equipment means all plant
and equipment in the Premises and includes, without limitation, the Air Conditioning Equipment and Fire Equipment but does not include any plant and equipment owned, hired or leased by the Tenant. 
 Expiry Date means the second date specified in item 6 of the form 7 and repeated in the schedule. 
 Fire Equipment means all stop cocks, hydrants, fire hoses, alarms, fire sprinkler systems or other fire prevention, extinguishing, warning or control
equipment in the Premises. 

					
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 Title Reference 50132198 
  

 Incoming Tenant means the proposed assignee, transferee, sub-tenant or other occupant under any dealing
under clause 13.1 and for the purposes of clauses 13.1(a), (b), (c), (d), (e), (i) and (j), includes, without limitation, any person or persons referred to in clauses 13.2 and 13.3. 
 Land means the land described in item 2 of the form 7. 
 Landlord means, subject to clause 3.6, the lessor specified in item 1 of the form 7 and repeated in the schedule and its successors and assigns. 
 Lease means the lease of which this schedule forms part and includes, without limitation, the form 7 and all plans, appendices, forms and annexures comprising this Lease. 
 Managing Agent means the managing agent (if any) appointed from time to time by the Landlord to manage the Premises. 
 Option Exercise Period means the period (if any) described in the schedule. 
 Option Term means the period (if any) specified in the schedule commencing on the day after the Expiry Date. 
 Permitted Use means the use specified in the schedule. 
 Premises means the premises described in item 5 of the form 7 and
includes, without limitation, all buildings and other structures and improvements erected or to be erected on the Land and all Appurtenances, floor coverings, and other objects, fittings, fixtures and chattels installed or located from time to time
in the Premises but does not include chattels owned, hired or leased (other than from the Landlord) by the Tenant. The expression includes any part of the Premises. The address of the Premises is specified in the schedule. 
 Previous Lease means the lease between the Landlord and Nutratec Pty Ltd ACN 102 473 781 dated 1 June 2005, as assigned to the Tenant. 
 Provisions means any term, covenant, condition, proviso, stipulation, restriction, obligation, power, right, remedy or like provision of this Lease, whether
express or implied, whether positive or negative and whether personal or running with the land. 
 Public Liability Amount means the amount
specified in the schedule. 
 Security Amount means the amount specified in or the amount calculated in the manner described in the schedule.

 Statute means all statutes and all subordinate legislation thereunder whether specifically named or otherwise. 
 Tenant means the lessee specified in item 3 of the form 7 and repeated in the schedule and includes: 
  

	 	(a)	if the Tenant is a corporation, its successors and permitted assigns; and 

  

	 	(b)	if the Tenant is a natural person, his personal representatives, successors and permitted assigns and each of their personal representatives. 

 Tenant’s Business means the business carried on from the Premises. 
 Term means the period specified in the schedule commencing on the Commencement Date and expiring by effluxion of time on the Expiry Date. 

					
	 QUEENSLAND LAND REGISTRY
	  	 SCHEDULE
	  	Form 20 Version 2
	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 16 of 41

  

 Title Reference 50132198 
  

	2	Part 2 — Interpretation 

  

	2.1	Statutes and regulations 

 Reference to a Statute extends to any statute
amending consolidating or replacing the same. Reference to a Statute shall be a reference to a Queensland statute unless otherwise specifically provided. 
  

	2.2	Persons include bodies corporate 

 Words importing persons include
bodies corporate and government and semigovernment authorities and departments. 
  

	2.3	Number and gender 

 Words importing the singular number include the
plural and vice versa. Words importing the masculine include the feminine and neuter genders and vice versa. 
  

	2.4	Bodies and associations 

 Reference to the Council, the Queensland Law
Society Incorporated, the Australian Institute of Valuers, Australian Securities Exchange Limited, Building Owners and Managers Association of Australia Limited and any other corporation, authority, association or body whether statutory or
otherwise, if any such corporation, authority, association or body ceases to exist or is reconstituted re-named or replaced or the powers or functions thereof are transferred to any other corporation, authority, association or body shall be a
reference to the corporation, authority, association or body which in the opinion of the Landlord is established or constituted in lieu thereof or as nearly as may be succeeding to the powers or functions thereof. 
  

	2.5	Implied covenants 

 Any covenants implied by law (statutory or
otherwise) are not negated but are deemed to have been modified (where so permitted) to the extent of any inconsistency with the Provisions. 
  

	2.6	Headings 

 Any headings and the list of contents contained in this Lease
have been included for ease of reference only. This Lease shall not be construed or interpreted by reference to such headings or list of contents. 
  

	2.7	Derivatives 

 Derivatives of any term or expression defined by this
Lease shall have a corresponding meaning. 
  

	2.8	Execution as deed 

 This Lease is expressed by the Tenant in accepting
this Lease to be executed by the Tenant as a deed and to be sealed by the Tenant and to be unconditionally delivered. 
  

	2.9	Independent obligation 

 The respective obligations of the Landlord and
the Tenant under the Provisions shall be construed as if each such obligation is a separate and independent covenant made by one party in favour of the other party and continuing (unless otherwise specifically required) throughout the Term and
thereafter so long as the same remains to be performed. 
  

	2.10	Severally bound 

 Where two or more persons are Landlord or Tenant the
Provisions shall bind each of them jointly and severally. 
  

					
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 Title Reference 50132198 
  

	2.11	Severability 

 The Provisions shall be construed, to the fullest extent
permitted by law, so as not to be invalid, illegal or unenforceable in any respect. If a Provision is invalid, illegal or unenforceable: 
  

	 	(a)	that Provision shall, to the fullest extent permitted by law, be read down to the extent that it is not invalid, illegal or unenforceable, but if such Provision cannot be read down, it shall
be deemed to be void and severable as if it were not a part of this Lease; and 

  

	 	(b)	the remaining Provisions shall not be affected or impaired. 

 Paragraph
(a) of this clause shall have no effect if: 
  

	 	(c)	the application of such paragraph alters the basic nature of this Lease; and 

  

	 	(d)	the Landlord makes an express election that such paragraph shall have no effect. 

  

	2.12	Governing law 

 Notwithstanding the residence or domicile of any party
to this Lease, this Lease shall be governed by and construed in all respects in accordance with the law of Queensland. 
  

	2.13	Clauses, provisions, parts, schedules, plans and items 

 Reference to a
form, clause, provision, part, schedule, annexure shall be a reference to that form clause, provision, part, schedule, annexure in this Lease unless otherwise specifically provided. 
  

	2.14	Bind all signatories 

 This Lease shall bind each of the signatories to
the full extent provided under the Provisions notwithstanding that one or more of the persons named as Tenant has not executed or may never execute this Lease or that the execution of this Lease by any one or more of such persons (other than the
persons sought to be made liable) is or may become void or voidable. 
  

	2.15	General references 

 Reference to a month shall be a reference to a
calendar month. Reference to writing shall be a reference to printing, painting, engraving, typewriting, lithography, photography and any other mode of representing or reproducing words in a visible form in the English language. 
  

	3	Part 3 — General provisions 

  

	3.1	Managing agent 

 The Landlord may appoint from time to time an agent to
manage the Premises. The Managing Agent so appointed shall represent the Landlord in all matters relating to this Lease except insofar as the Landlord shall otherwise direct. Any communication from the Landlord to the Tenant shall to the extent of
any inconsistency supersede any communication from the Managing Agent to the Tenant. 
  

	3.2	Payment of money 

 Any money payable by the Tenant to the Landlord shall
be paid without any deduction whatsoever to the Landlord or to such person on behalf of the Landlord or to the credit of the Landlord as the Landlord may direct in writing from time to time. 
  

	3.3	Statement of money owing 

 A statement by the Landlord as to any money
payable by the Tenant under the Provisions shall be prima facie evidence of the amount payable. 
  

					
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	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 18 of 41

  

 Title Reference 50132198 
  

	3.4	Holding over 

 If the Tenant with the Landlord’s prior consent
remains in occupation of the Premises after the Expiry Date the Tenant shall in the absence of any express contrary agreement hold the Premises as tenant from month to month. The Tenant shall pay a monthly rental equal to the Base Rent payable
monthly as at the Expiry Date. The monthly tenancy shall otherwise be in accordance with the Provisions so far as they can be applied to a monthly tenancy including, without limitation, the provisions for variation of Base Rent but without the
benefit of any option to renew. The monthly rent shall be paid monthly in advance. The tenancy may be terminated by the Tenant by giving not less than two months prior written notice given at any time and taking effect at any time in accordance with
such notice. The monthly tenancy may be terminated by the Landlord by giving not less than two months prior written notice given at any time and taking effect at any time in accordance with such notice. 
  

	3.5	No partnership 

 The Landlord is not and does not in any way become a
partner of or a joint venturer with the Tenant in the conduct of the Tenant’s Business or otherwise. 
  

	3.6	Landlord 

 The person vested from time to time with the reversion of
this Lease shall be liable for the performance of the Provisions on the Landlord’s part during such time as such person is vested with the reversion of this Lease. From the date on which such person is no longer vested with the reversion of
this Lease, such person shall be released and discharged from the future performance of the Provisions on the Landlord’s part. 
  

	3.7	Trustee capacity 

 If on or subsequent to the Commencement Date the
Premises are held by the Tenant upon the terms of any trust or are subject to any trust (all or any of which trusts are called in this clause Trust ) and whether or not the Landlord is aware of the Trust: 
  

	 	(a)	the Tenant accepts this Lease both as trustee of the Trust and in its personal capacity. The Tenant is personally liable for the performance observance and fulfilment of the Provisions on the
Tenant’s part; 

  

	 	(b)	in the event of any unremedied default under the Provisions on the Tenant’s part the Tenant shall take all necessary steps and proceedings to ensure that the assets of the Trust are made
available for the purpose of rectifying such default and compensating the Landlord for Claims in respect of such default. The Tenant shall assign to the Landlord upon demand all rights of indemnity which the Tenant may have against the assets of the
Trust; and 

  

	 	(c)	the Tenant covenants that the Tenant has power and authority to enter into this Lease under the Trust and that the entering into of this Lease by the Tenant is in the due administration of
the Trust. 

  

	3.8	Moratorium negatived 

 Unless application is mandatory by law any
Statute order or moratorium shall not apply to this Lease so as to prejudicially affect rights, powers, remedies or discretions of the Landlord. 
  

	3.9	Jurisdiction 

 Any proceedings arising under the Provisions or in
respect of this Lease shall be instituted and determined before a court of competent jurisdiction in such place in Queensland as the Landlord may nominate in writing from time to time. 
  

					
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 Title Reference 50132198 
  

	3.10	Notices 

  

	 	(a)	A written notice, demand, waiver, approval, consent, communication, statement or other document in connection with this Lease (in this clause Notice) may: 

  

	 	(i)	in the case of a Notice given by the Landlord be signed under the common seal of the Landlord or the Managing Agent or under the hand of any director, attorney, solicitor, manager, secretary
or other authorised officer for the time being of the Landlord or the Managing Agent; and 

  

	 	(ii)	in the case of a Notice given by the Tenant be signed under the common seal of the Tenant or under the hand of any director, attorney, solicitor, manager, secretary or other authorised
officer for the time being of the Tenant. 

  

	 	(b)	If a Managing Agent has been appointed by the Landlord any Notice to the Landlord is sufficiently served on or given to the Landlord if addressed to the Landlord and:

  

	 	(i)	served personally on; 

  

	 	(ii)	sent by prepaid registered post, airmail if outside of Australia, to; or 

  

	 	(iii)	sent by facsimile to: 

 the Managing Agent at the Managing Agent’s
principal place of business for the time being in Queensland or at such place as the Landlord may nominate in writing from time to time. 
  

	 	(c)	If a Managing Agent has not been appointed by the Landlord any Notice to the Landlord is sufficiently served on or given to the Landlord if addressed to the Landlord and:

  

	 	(i)	served personally on; 

  

	 	(ii)	sent by prepaid registered post, airmail if outside Australia, to; or 

  

	 	(iii)	sent by facsimile to: 

 the Landlord at the Landlord’s principal place of
business for the time being in Queensland or at such place as the Landlord may nominate in writing from time to time. 
  

	 	(d)	Any Notice to the Tenant is sufficiently served on or given to the Tenant if addressed to the Tenant and: 

  

	 	(i)	served personally on; 

  

	 	(ii)	sent by prepaid post, airmail if outside Australia, to; or 

  

	 	(iii)	sent by facsimile to: 

 the Tenant at: 
  

	 	(i)	such place as the Tenant may nominate from time to time for the service or delivery of Notices; or 

  

	 	(ii)	the Tenant’s registered office. 

  

	 	(e)	If the Tenant is more than one person the service or giving of a Notice under clause 3.10(d) on or to any one such person is deemed to be service on all such persons.

  

	 	(f)	A Notice sent by post, registered post or facsimile is taken to be received: 

  

	 	(i)	in the case of a letter sent by post or registered post on the second Business Day after posting if posted in Australia and on the fifth Business Day after posting if posted outside
Australia; 

  

					
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	Land Title Act 1994, Land Act 1994 and Water Act 2000	  		  	Page 20 of 41

  

 Title Reference 50132198 
  

	 	(ii)	in the case of a facsimile on production of a transmission report by the machine from which the facsimile was sent which indicates the facsimile was sent in its entirety to the facsimile
number of the recipient if produced before 5.00pm on a Business Day, otherwise on the next Business Day. 

 For the purpose of clause
3.10(f)(ii) the time referred to is the time in the place to which the Notice is sent. 
  

	 	(g)	Unless a later time is specified in the Notice, a Notice takes effect from the time it is actually received or taken to be received. 

  

	 	(h)	Section 257 of the Property Law Act 1974 does not apply to this Lease. 

  

	3.11	Consent of Landlord 

 Where under the Provisions the Landlord’s
consent is required such consent may be withheld or given with or without conditions by the Landlord in its absolute discretion unless otherwise specifically provided under the Provisions. The grant of any such consent must be in writing and if not
in writing shall be of no effect. 
  

	3.12	Tenant’s risk and expense 

 The performance of any act, matter or
thing which the Tenant is required or permitted to perform and the Tenant’s occupation and use of the Premises shall be at the sole risk and expense of the Tenant unless otherwise specifically provided under the Provisions. 
  

	3.13	Time for performance 

 Where either party is obliged to perform any act,
matter or thing, that party shall fulfil such obligations: 
  

	 	(a)	within the time (if any) specified under the relevant Provision; or 

  

	 	(b)	if no time is specified under the relevant Provision, within a reasonable time. 

  

	3.14	Measurement of areas 

 Unless the contrary intention appears, where it
is necessary to measure any area including, without limitation, the area of the Building, the measurement shall be in accordance with the BOMA Method of Measurement. The expression “BOMA Method of Measurement” means the method for the
measurement of buildings utilized by the Building Owners and Managers Association of Australia Limited (State Division) at the Commencement Date for premises of the nature of the Premises. If no such method exists then the expression means such
method as the Landlord may select from time to time as the most appropriate. 
  

	3.15	Guarantee and indemnity 

 Intentionally deleted. 
  

	3.16	No caveat by Tenant 

 The Tenant shall not lodge a caveat affecting the
Land. 
  

	3.17	Power of attorney 

 The Tenant irrevocably nominates and appoints the
Landlord and each and every one of the Landlord’s directors in Queensland jointly and severally as the attorney of the Tenant to: 
  

	 	(a)	execute, stamp and register a surrender of this Lease or any lease granted under part 18; and 

  

	 	(b)	execute, stamp and register a withdrawal of any caveat lodged in respect of the Land. 

 This power of attorney shall not become exercisable by the Landlord unless the Tenant defaults in the observance or performance of one or more of the Provisions on the Tenant’s part. 
  

					
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 Title Reference 50132198 
  

	3.18	Tenant not to permit or suffer prohibited matters 

 Wherever under the
Provisions the Tenant is prohibited from doing any act matter or thing the Tenant is also prohibited from permitting or suffering such act matter or thing. 
  

	3.19	Entire agreement 

 The Provisions and the Agreement contain the entire
agreement between the Landlord and the Tenant. There are no other collateral agreements between the Landlord and the Tenant relating to the Premises notwithstanding any negotiations or discussions between the Landlord and the Tenant prior to
execution of this Lease. 
  

	3.20	Preservation of accrued rights 

 The termination of this Lease (whether
by effluxion of time or otherwise): 
  

	 	(a)	shall not affect the operation of the Provisions expressed or implied to have effect after such termination; and 

  

	 	(b)	shall be without prejudice to any right accrued to either party in respect of any breach of this Lease by the other party unless otherwise specifically provided under the Provisions.

  

	3.21	Registration 

  

	 	(a)	The Tenant shall attend to registration and payment of lodgement fees. 

  

	 	(b)	The Landlord and Tenant shall do all things necessary to register this Lease and, if exercised, the lease or extension of lease documents for the Option Term. 

  

	4	Part 4 — Base Rent 

  

	4.1	Payment of Base Rent 

 The Tenant shall pay to the Landlord without any demand the Base Rent as determined under the Provisions by equal monthly instalments in advance on or before the 25th day of each month. The first instalment shall be paid on or before the Commencement Date. 
  

	4.2	Broken periods 

 If the Term commences on a day other than the first day
of a month or if this Lease is terminated (whether by effluxion of time or otherwise) on a day other than the last day of a month the Tenant shall pay to the Landlord in respect of such broken periods on the first day of such broken period a
proportionate part of the Base Rent calculated by multiplying the Base Rent by the number of days in the broken period and dividing by 365. 
  

	5	Part 5 — Electricity gas water and other charges 

  

	5.1	Charges for electricity 

 The Tenant shall pay all charges for
electricity consumed in the Premises to the assessing authority on or before the due date for payment if assessed directly against the Tenant but otherwise to the Landlord upon demand. 
  

	5.2	Charges for gas 

 The Tenant shall pay all charges for gas consumed in
the Premises to the assessing authority on or before the due date for payment if assessed directly against the Tenant but otherwise to the Landlord upon demand within 21 days of demand. 
  

					
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 Title Reference 50132198 
  

	5.3	Charges for water 

 If a separate water meter is at any time installed
to record the water consumed in the Premises the Tenant shall pay the meter rental (if any) and all charges for water consumed in the Premises to the assessing authority on or before the due date for payment if assessed directly against the Tenant
but otherwise to the Landlord within 21 days of demand. 
  

	5.4	Additional rent due to alterations 

 Intentionally deleted. 

 

	5.5	Reimbursement due to alterations 

 If the Landlord effects any
alterations or additions to the Premises which may be requested by the Tenant and consented to by the Landlord, the Tenant shall pay to the Landlord within 21 days of demand, the total cost to the Landlord of construction of such works
including, the reasonable fees paid to architects, quantity surveyors, engineers and other consultants. 
  

	5.6	Special services 

 The Tenant shall pay to the Landlord within
21 days of demand, the amount of any reasonable additional or unusual costs charges and expenses incurred by the Landlord at the request of the Tenant in providing any special, additional or unusual services for the Tenant. 
  

	5.7	Council cleansing dues 

 If the Council provides any cleansing or refuse
service for the Premises (whether at the request of the Tenant or by requirement of the Council) the Tenant shall pay to the Council the cost of such service on or before the due date for payment if assessed directly against the Tenant but otherwise
to the Landlord within 21 days of demand. The Landlord shall pay all general rates payable to the Council. 
  

	5.8	Fire equipment alteration 

 The Tenant shall pay to the Landlord within
21 days of demand the cost of any alteration to the Fire Equipment which is necessary by reason of the non-compliance by the Tenant with the recommendations of the Insurance Council of Australia Limited, any Statutory requirements or the
insurance requirements of the Landlord. 
  

	5.9	Costs of Lease 

 The Tenant shall pay: 
  

	 	(a)	the legal costs of and incidental to the instructions for and the preparation and registration of this Lease, as incurred by the Tenant; and 

  

	 	(b)	the cost of any consent to the granting of this Lease including, any mortgagee’s consent, which shall be paid to the Landlord within 21 days of demand. 

  

	5.10	Stamp duties 

 The Tenant shall pay upon demand all stamp duties and
other duties assessed from time to time (whether generally or against the Landlord or the Tenant) on or in respect of this Lease. The Tenant shall pay to the Landlord if demanded by the Landlord during the last three months of the Term the estimated
amount of any stamp duty or other duties which would be payable after the expiration of the Term. The Tenant authorises the Landlord and the Landlord’s solicitor to make application for a refund of stamp duty or other duty and to apply such
refund against any moneys owing by the Tenant to the Landlord. Any refund of stamp duty or other duty received shall belong to the party who bore the expense of that duty. The Landlord may apply for an assessment or reassessment of stamp duty or
other duty with which this Lease is chargeable. Any such assessment or reassessment may be accepted by the Landlord. The Tenant 

					
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shall not object to or appeal against the assessment or reassessment or the Landlord’s acceptance of the assessment or reassessment and shall pay upon demand any
stamp duties or other duties assessed under such assessment or reassessment. If enquiries are made by any assessing authority with respect to determining the amount of stamp duty or other duty payable with respect to this Lease the Tenant shall pay
to the Landlord upon demand the costs and expenses of the Landlord of and incidental to providing all information requested and to all other associated attendances and correspondence relating to the enquiries including, without limitation, the
Landlord’s legal costs and disbursements. The Landlord’s legal costs shall be calculated on a solicitor and own client basis. 
  

	5.11	Costs of re-entry and consents 

 The Tenant shall pay to the Landlord
upon demand the Landlord’s reasonable legal costs and disbursements in relation to: 
  

	 	(a)	the Tenant’s default or breach under the Provisions; 

  

	 	(b)	the termination or attempted termination of this Lease; 

  

	 	(c)	the re-entry or attempted re-entry by the Landlord into the Premises; 

  

	 	(d)	the surrender of this Lease (including any stamp duties and registration fees thereon); 

  

	 	(e)	any application for the consent of the Landlord or the Landlord’s mortgagee (including any stamp duty thereon) whether that consent is or is not granted; 

  

	 	(f)	any proceedings brought by the Landlord to enforce the performance by the Tenant of the Provisions on the Tenant’s part; and 

  

	 	(g)	any litigation to which the Landlord is made a party commenced by or against the Tenant (other than litigation between the Landlord and the Tenant) and arising directly or indirectly out of
the Tenant’s use or occupation of the Premises. 

  

	6	Part 6 — Equipment 

  

	6.1	Source of light and power 

 The Tenant shall not use any form of light,
power or heat other than electricity or gas supplied through meters. The Tenant may use auxiliary power or lighting (other than exposed flame) during any period of power failure or power restrictions. 
  

	6.2	Electrical overloading 

 The Tenant shall not install any electrical
equipment on or in the Premises that may overload the cables switchboards or subboards through which electricity is conveyed to the Premises without the Landlord’s prior consent which must not be unreasonably withheld. If the Landlord grants
such consent any alterations which are necessary to comply with the insurance requirements of the Landlord and the requirements of any relevant Statute shall be effected by the Landlord at the reasonable cost of the Tenant. The Tenant shall pay to
the Landlord within 21 days of demand by the Landlord, the reasonable cost to the Landlord of such alterations. 
  

	6.3	Failure of services 

 The Landlord shall not be liable to the Tenant by
reason of any breakdown or cessation of any services to the Premises except where due to any deliberate or negligent act or omission by the Landlord. Such breakdown or cessation shall not relieve the Tenant of the obligations to pay Base Rent or
other moneys under the Provisions and otherwise to observe and perform the Provisions on the Tenant’s part. 

					
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	6.4	Maintenance contracts 

 If required by the Landlord from time to time,
the Tenant shall effect at the date nominated by the Landlord and thereafter maintain a comprehensive maintenance and repair contract in respect of the Equipment or such components or items of the Equipment as may be reasonably nominated by the
Landlord. 
  

	6.5	Evidence of contracts 

 The Tenant shall deliver to the Landlord within
21 days of demand from time to time a copy of each maintenance and repair contract effected or required to be effected by the Tenant under the Provisions. 
  

	6.6	Tenant not to void contract 

 The Tenant shall not do any act, matter or
thing which may vitiate or render void or voidable any maintenance and repair contract effected or required to be effected by the Tenant under the Provisions. 
  

	6.7	Tenant’s maintenance contracts 

 All maintenance and repair
contracts effected or required to be effected by the Tenant under the Provisions: 
  

	 	(a)	shall be effected with a contractor first approved by the Landlord, such approval not to be unreasonably withheld; 

  

	 	(b)	shall be for such services, shall cover such risks and shall contain such conditions as are reasonably acceptable to or reasonably required from time to time by the Landlord;

  

	 	(c)	shall have no alterations without the Landlord’s prior consent which shall not be unreasonably withheld; and 

  

	 	(d)	if required by the Landlord from time to time shall be effected in the names of the Landlord, the Tenant, the Landlord’s mortgagee and any person having an interest in the Premises
superior to that of the Landlord for their respective rights and interests. 

  

	6.8	Tenant’s maintenance contract payments 

 The Tenant shall pay to
the contractor all charges payable in respect of any maintenance and repair contract effected by the Tenant under the Provisions on or before the due date for payment. 
  

	7	Part 7 — Use of Premises 

  

	7.1	Permitted Use 

 The Tenant shall use and occupy the Premises for the
purpose of the Permitted Use. The Tenant shall not use the Premises for any purpose other than the Permitted Use without the Landlord’s prior consent. 
  

	7.2	Compliance with statutes 

 The Tenant shall promptly rectify any breach
of any Statute relating to the Premises or the Permitted Use. 
  

	7.3	Licences and permits 

 The Tenant shall obtain maintain and renew from
time to time as required by Statute all licences permits consents and registrations required for carrying on the Permitted Use and the Tenant’s Business including, without limitation, any town planning consent. The failure of the Tenant to
comply with this clause shall not relieve the Tenant of the obligation to pay Base Rent or other money under the Provisions and otherwise to observe and perform the Provisions. 
  

					
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	7.4	Offensive or illegal conduct 

 The Tenant shall not carry on in the
Premises any noxious, offensive or illegal business, occupation or practice nor shall the Tenant do any act or thing which may be a nuisance or annoyance or cause damage or disturbance to the Landlord or the occupiers of nearby land. 
  

	7.5	Use of appurtenances 

 The Tenant shall not use the Appurtenances for
any purpose other than those for which they are provided and shall not place therein any sweepings rubbish rags or other deleterious substances. The Tenant shall not interfere with any Appurtenances without the Landlord’s prior consent.

  

	7.6	Protection from theft or robbery 

 The Tenant shall take reasonable
steps to protect and keep safe the Premises and any property contained in the Premises from theft, burglary or robbery. 
  

	7.7	Cleaning 

 The Tenant shall: 
  

	 	(a)	keep the Premises clean, having regard to the Permitted Use and shall not accumulate in or about the Premises any waste materials, except for the purpose of Permitted Use; and

  

	 	(b)	clean any drains and water pipes on the Premises. 

  

	7.8	Garden maintenance 

 The Tenant shall mow the lawns and maintain the
gardens at the Premises, subject to such water use restrictions as apply to the Premises from time to time. 
  

	7.9	Rodents and vermin 

 The Tenant shall keep the Premises free and clear
of rodents, termites, cockroaches and other vermin. 
  

	7.10	Structural overloading 

 The Tenant shall observe the maximum floor
loading nominated from time to time by the Landlord and shall not permit the floors of the Building to be broken strained or damaged by overloading the floors in any manner. The Tenant shall not load the partitions, walls, ceilings or roof structure
of the Building without the Landlord’s prior consent, which shall not be unreasonably withheld. 
  

	7.11	Compliance with fire regulations 

 The Tenant shall take such
precautions against fire in respect of the Premises as are required under any Statute or by the Council or relevant authorities or as shall be reasonably determined by the Landlord. 
  

	7.12	Suitability of Premises 

 The Landlord does not expressly or impliedly
promise that the design, shape, size or finishes of the Premises are or shall remain fit, suitable or adequate for the purposes of the Tenant. 
  

	7.13	Smoking 

 The Tenant shall not smoke in the Premises. 
  

					
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	8	Part 8 — Maintenance and repair of Premises 

  

	8.1	Condition of Premises 

 The Tenant shall keep, maintain, service and
repair the Premises including, without limitation, all floors, walls, ceilings and Appurtenances in the Premises in as good and efficient repair and condition as at the Commencement Date. The Tenant shall not be liable under this clause for any
damage caused by fire, storm, flood, lightning, earthquake, tempest, act of God, riot, civil commotion, impact by aircraft or act of war and without any default, negligence or wilful act or omission on the part of the Tenant. Any such event shall
not be excepted under this clause if any insurance moneys otherwise payable in relation to such event are irrecoverable through the default, negligence or wilful act or omission of the Tenant. 
  

	8.2	Inspection by Landlord 

 The Landlord and its servants, agents and
contractors may at all reasonable times, enter upon and view the state of repair of the Premises upon giving not less than seven days prior written notice. The Landlord may leave upon the Premises a written notice requiring the Tenant to maintain,
repair or replace within a reasonable time as specified in the notice any defects which are the responsibility of the Tenant. At all times whilst on the Premises the Landlord and its servants, agents and contractors must be accompanied by a
representative of the Tenant and comply with all reasonable operating procedures of the Tenant and all reasonable directions of the Tenant with regard to health and safety matters. 
  

	8.3	Painting 

 During the last year of the Term, or in the event the Tenant
exercises the Option for Renewal then, in the last year of the Option Term, the Tenant shall paint, repaint, clean or otherwise appropriately treat in a proper workmanlike manner and with materials and to standards reasonably determined by the
Landlord, the walls ceilings and other parts of the Premises which have previously been painted, cleaned or otherwise so treated. 
  

	8.4	Notice of Damage 

 The Tenant shall give to the Landlord written notice
of any damage sustained to the Premises or any defect in the Appurtenances. 
  

	9	Part 9 — Alterations to and damage or destruction of Premises 

  

	9.1	No alteration without consent 

 The Tenant shall not make any
alterations or additions to the Premises without the Landlord’s prior consent which shall not be unreasonably withheld. If such consent is granted the Tenant shall observe and perform the conditions imposed by the Landlord when granting its
consent and the following conditions: 
  

	 	(a)	the Tenant shall submit to the Landlord detailed drawings and specifications of the proposed works; 

  

	 	(b)	the proposed works shall be approved by the Landlord’s architect who in approving the proposed works or otherwise shall have regard to the manner in which and the extent to which the
proposed works may affect the Premises; 

  

	 	(c)	the Tenant shall obtain the approval of the Council and any relevant authority to the proposed works in any case where such approval is required and shall produce evidence of such approval to
the Landlord; 

  

					
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	 	(d)	the works shall be carried out by contractors who have current public liability insurance for an amount nominated by the Landlord to the Tenant and who shall be previously approved in writing
by the Landlord; 

  

	 	(e)	the works shall be carried out in a proper and workmanlike manner to the satisfaction of the Landlord’s architect and if the Landlord so requires under the supervision of the
Landlord’s architect; 

  

	 	(f)	the Tenant shall pay to the Landlord the reasonable costs and expenses of the Landlord’s architect and any other Landlord’s consultants relating to such approval (whether the
proposed works are approved or not) and supervision; 

  

	 	(g)	the Tenant shall indemnify and continue to indemnify the Landlord from and against all Claims which the Landlord may suffer or incur in connection with or arising from the construction or
installation of the works; and 

  

	 	(h)	all construction or installation works by the Tenant under this Lease or by the Tenant or Nutratec Pty Ltd ACN 102 473 781 under the Previous Lease shall remain the property of the Tenant,
excluding the extra power supply, roof ventilation, security fencing and in ground drainage tank works installed pursuant to the Previous Lease. 

  

	9.2	Alterations required by statute 

 The Landlord’s consent under
clause 9.1 shall not be unreasonably withheld where the alterations or additions to the Premises are required by Statute and where the Tenant observes and performs the conditions in clauses 9.1(a) to (h). 
  

	9.3	Abatement of Rent and suspension of covenant to repair 

 If the Premises
are totally or partially destroyed or damaged by fire, storm, flood, lightning, earthquake, tempest, act of God, riots, civil commotion, impact by aircraft or act of war and without any default, negligence or wilful act or omission on the part of
the Tenant whereby the Premises are rendered wholly or partially unfit for the occupation or use by the Tenant in the conduct of the Permitted Use, payment of the Base Rent or a proportionate part of Base Rent according to the nature and extent of
the destruction or damage sustained and the covenant to repair so far as it has relation to any such destruction or damage shall be suspended until the Premises are restored to a proper condition. 
  

	9.4	Landlord may terminate or reinstate 

 If the Premises are: 

 

	 	(a)	totally destroyed or damaged, the Landlord may by written notice to the Tenant either terminate this Lease or elect to restore the Premises to a proper condition; or 

 

	 	(b)	partially destroyed or damaged, the Landlord shall promptly restore the Premises to a proper condition. 

 The Landlord shall not be obliged to restore or rebuild the Premises according to the former specification so long as the floor area of the Building is not
substantially less than the floor area of the Building immediately prior to such destruction or damage and the Premises is fit for use by the Tenant in the same manner as immediately prior to such destruction or damage. 
  

	9.5	Tenant may terminate if no reinstatement 

 If the Premises are totally
or partially destroyed or damaged by any of the causes referred to in clause 9.3 and without any default, negligence or wilful act or omission on the part of the Tenant whereby the Premises are rendered wholly unfit for the occupation or use
by the Tenant in the conduct of the Permitted Use and the Landlord does not substantially complete the restoration of the Premises within a reasonable time from the date of such destruction or damage, the Tenant may at any time thereafter give to
the 

					
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Landlord two month’s written notice of its intention to terminate this Lease. If such restoration is not substantially completed within such two month period, the
Tenant may at any time thereafter before such restoration has been substantially completed, terminate this Lease by written notice to the Landlord and by complying with clause 9.6. Upon such compliance this Lease shall be terminated.

  

	9.6	Surrender on termination 

  

	 	(a)	Notwithstanding anything to the contrary under the Provisions any purported termination of this Lease by the Tenant under this part 9 or under clause 10.2 shall not be effective
until the Tenant has delivered to the Landlord an executed surrender of this Lease in registrable form. 

  

	 	(b)	Upon the Landlord terminating this Lease under this part 9 or under clause 10.2 the Tenant shall upon receipt of the Landlord’s notice of termination deliver to the
Landlord an executed surrender of this Lease in registrable form. 

  

	9.7	Arbitration of disputes 

  

	 	(a)	If any dispute arises as to the meaning, operation or effect of the Provisions of this part 9 or as to a party’s rights or liabilities under the Provisions of this part 9, before
the Landlord or the Tenant institutes any proceedings against the other party the Landlord or the Tenant, as the case may be, shall give to the other party a written notice of: 

  

	 	(i)	the intention to institute such proceedings; and 

  

	 	(ii)	the claim against the other party with full and detailed particulars of the claim and the legal basis for the claim. 

  

	 	(b)	If a notice is given under clause 9.7(a) the Landlord and the Tenant shall endeavour to resolve the dispute within ten Business Days of such notice being given.

  

	 	(c)	If the Landlord and the Tenant do not resolve the dispute within the period referred to in clause 9.7(b), the dispute shall be referred to arbitration under this clause 9.7.

  

	 	(d)	The arbitration under this clause shall be effected by an arbitrator agreed upon by the Landlord and the Tenant or failing such agreement within five Business Days of the expiry of the period
referred to in clause 9.7(b) by an independent arbitrator appointed on the application of the Landlord or the Tenant by the president or other principal officer for the time being of the Queensland Law Society Incorporated.

  

	 	(e)	The decision of the arbitrator shall be conclusive and binding. Any such submission to arbitration shall be deemed to be a submission to arbitration within the meaning of the Commercial
Arbitration Act 1990. Subject to that Act a reference to arbitration shall be a condition precedent to any action or other legal proceedings between the Landlord and the Tenant relating to such dispute. The arbitrator shall have power to award
costs and either the Landlord or the Tenant may make such award an order of a court of competent jurisdiction. 

  

	 	(f)	Nothing contained in this clause shall prohibit the Landlord and the Tenant from agreeing that any dispute arising under the Provisions shall be submitted to arbitration.

  

	10	Part 10 — Reservations 

  

	10.1	Right of entry 

 The Landlord and its servants, agents and contractors
may enter upon the Premises with all necessary materials and machinery to: 

					
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	 	(a)	effect any alterations, maintenance or repairs which may be encumbent upon the Landlord by Statute or which the Landlord may reasonably wish to carry out for ensuring the safety or
preservation of the Premises. The right of entry for this purpose may be exercised at any time upon the Landlord giving to the Tenant not less than seven days prior notice, such notice to include details of proposed works, and provided that such
prior notice shall not be required in an emergency; 

  

	 	(b)	inspect, service, remove, repair, install, maintain, alter or add to the Appurtenances including, without limitation, the Air Conditioning Equipment, Fire Equipment, Elevators and any water,
gas, electric, plumbing, communication and other services to the Premises. The right of entry for this purpose may be exercised at any time upon the Landlord giving to the Tenant not less than seven days prior notice, such notice to include details
of proposed works, and provided that such prior notice shall not be required in an emergency; and 

  

	 	(c)	allow prospective purchasers of the Premises to view the Premises. The right of entry for this purpose may be exercised at all reasonable times upon the Landlord giving to the Tenant not less
than seven days prior written notice. 

 The Landlord shall carry out such works, services and entries in such a manner so as to minimise
as far as practicable any inconvenience or interruption to the conduct of the Permitted Use caused by such works or services. Any such works or services must be approved in advance by the tenant, with such approval not to be unreasonably withheld.
The Landlord shall be responsible to the Tenant for any negligence or wilful act or omission of the Landlord’s agents and contractors in entering for such works and services. 
 At all times whilst on the Premises the Landlord and its servants, agents and contractors must be accompanied by a representative of the Tenant and comply with all
reasonable operating procedures of the Tenant and all reasonable directions of the Tenant with regard to health and safety matters. 
  

	10.2	Resumptions 

 The Tenant shall have a right of termination of this Lease
in the event of any resumption of any part of the Premises or any agreement between the Landlord and any relevant authority with respect to any public service, utility or facility within the Premises unless the resumption or agreement directly
results in the Premises being wholly and permanently unfit for occupation or use by the Tenant for the Permitted Use. In that event the Tenant may terminate this Lease by written notice to the Landlord and by complying with clause 9.6. Upon
such compliance this Lease shall be terminated. 
  

	10.3	Grant of easements 

 The Landlord shall not enter into any arrangements
or agreements with any of the owners, tenants or occupiers of land adjacent to or in the vicinity of the Premises (in this clause Adjacent Land) or with any relevant authority for the purpose of providing public or private access to the
Premises or the Adjacent Land or the support of structures erected or to be erected on the Land or the Adjacent Land or the provision of services to the Premises or the Adjacent Land. 
  

	11	Part 11 — Liabilities and indemnities 

  

	11.1	Release of Landlord 

 The Tenant shall occupy and use the Premises at
the risk of the Tenant. The Landlord the Managing Agent and each of their respective servants and agents shall not be liable to the Tenant for any Claims suffered or incurred by the Tenant except where due to any deliberate or negligent act or
omission by the Landlord, the Managing Agent or any of their respective servants or agents. 
  

					
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	11.2	Interruption of services 

 Without limitation to clause 11.1 the
Landlord, the Managing Agent and each of their respective servants and agents shall not be liable to the Tenant for any Claims suffered or incurred by the Tenant as a result of any malfunction, failure to function or interruption of the
Appurtenances or the water, gas, electricity, communication or other services to the Premises from any cause whatsoever except where such Claims are caused or contributed to by any negligence, nuisance, breach of statutory duty or wilful act or
omission of the Landlord, the Managing Agent or any of their respective servants or agents. 
  

	11.3	Tenant to notify the Landlord 

 The Landlord shall be liable to the
Tenant for any Claims suffered or incurred by the Tenant caused or contributed to by the breach of the Provisions on the Landlord’s part by the Landlord, the Managing Agent or any of their respective servants or agents and for which (as between
the Landlord and the Tenant) the Landlord might be liable whether or not the Tenant has given to the Landlord written notice of such breach. 
  

	11.4	Indemnities 

 The Tenant indemnifies and shall continue to indemnify the
Landlord against and in respect of all Claims suffered or incurred by the Landlord or for which the Landlord becomes liable whether during or after the Term caused or contributed to by: 
  

	 	(a)	the negligence or wilful act or omission of the Tenant; 

  

	 	(b)	the default of the Tenant under the Provisions. 

  

	12	Part 12 — Insurances 

  

	12.1	Tenant’s insurances 

 The Tenant shall effect at the Commencement
Date and thereafter maintain: 
  

	 	(a)	a public liability insurance policy to cover legal liability to third parties in respect of the death of or injury to persons and damage to property sustained in or near the Premises bearing
an endorsement whereby the indemnity under the insurance policy is extended to include such risks of an insurable nature for which the Tenant is obliged to indemnify the Landlord under clause 11.4; and 

  

	 	(b)	a plate and other glass insurance policy against damage covering all plate and other glass in the Premises. 

  

	12.2	Evidence of insurance 

 The Tenant shall deliver from time to time to
the Landlord within 14 days of demand a copy of each insurance policy effected or required to be effected by the Tenant under the Provisions, the receipt for the last premium and a certificate of currency. 
  

	12.3	Tenant not to void insurance 

 The Tenant shall not bring or do any act,
matter or thing upon or keep any matter or thing in the Premises which may: 
  

	 	(a)	increase the rate of any insurance premium in respect of the Premises or on any property in the Premises; 

  

	 	(b)	vitiate or render void or voidable any insurance in respect of the Premises; 

  

	 	(c)	conflict with any Statutes relating to fire or any insurance policy in respect of the Premises; or 

  

	 	(d)	in any way create any actual or potential fire hazard in or near the Premises, 

					
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 except as permitted in accordance with the Permitted Use. 
  

	12.4	Tenant’s insurance policies 

 All insurance policies effected or
required to be effected by the Tenant under the Provisions: 
  

	 	(a)	shall be effected with an insurer as determined by the Tenant; 

  

	 	(b)	shall in relation to the public liability insurance policy under clause 12.1(a) be for an amount not less than the Public Liability Amount; 

  

	 	(c)	shall have no exclusions, endorsements or alterations without the Landlord’s prior consent; and 

  

	 	(d)	shall be effected in the names of the Landlord the Tenant and, if required from time to time by the Landlord, the Landlord’s mortgagee and any person having an interest in the Premises
superior to that of the Landlord for their respective rights and interests. 

  

	12.5	Tenant’s insurance premiums 

 The Tenant shall pay to the insurer
all premiums and charges payable in respect of any insurance policy effected by the Tenant under the Provisions on or before the due date for payment. 
  

	12.6	Landlord’s insurances 

 The Landlord shall effect and maintain
building replacement and reinstatement insurance for the full replacement reinstatement value of the improvements on the Premises and such other insurance policies as the Landlord shall decide. 
  

	12.7	Landlord’s insurance policies 

 Any insurance policies effected by
the Landlord: 
  

	 	(a)	shall be effected with such insurer; 

  

	 	(b)	shall be for such amounts, cover such risks and contain such conditions; and 

  

	 	(c)	shall be in such names, 

 as the Landlord shall reasonably decide, subject to
the insurances providing sufficient cover for the replacement and reinstatement of the improvements on the Premises. 
  

	13	Part 13 — Assignment sub-letting and mortgages 

  

	13.1	Restriction on assignment and sub-letting 

 The Tenant shall not assign
or transfer the Tenant’s estate or interest in this Lease (including part of such estate or interest) or sub-let or in any manner part with the possession of the Premises (including part of the Premises) without the Landlord’s prior
consent. For the purpose of this Lease parting with possession includes, without limitation, permitting any licensee, franchisee or concessionaire to conduct business in the Premises. The Landlord’s consent shall not be unreasonably withheld if
the following conditions are satisfied: 
  

	 	(a)	the Tenant gives to the Landlord not less than one month’s prior written notice of the Tenant’s desire to deal with the Lease or the Premises together with written details of the
nature of and the parties to the proposed dealing; 

  

	 	(b)	the Tenant proves to the satisfaction of the Landlord that the Incoming Tenant is a respectable and financially responsible person and where the Permitted Use is a profession, trade, business
or service industry is of proven ability to conduct such Permitted Use; 

					
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	 	(c)	the Tenant or the Incoming Tenant gives to the Landlord upon demand such further information, material and documents reasonably required by the Landlord in respect of the proposed dealing;

  

	 	(d)	the Tenant pays to the Landlord the Landlord’s reasonable costs and expenses including the Landlord’s legal costs and disbursements in relation to the investigation of the Incoming
Tenant and otherwise relating to the proposed dealing; 

  

	 	(e)	the Tenant pays to the Landlord all money payable by the Tenant up to the date of completion of such dealing and there is not at the time of giving the notice under clause 13.1(a) or
thereafter prior to the date of completion of such dealing any unremedied breach of the Provisions on the Tenant’s part which has not been waived by the Landlord; 

  

	 	(f)	in the event of a sub-letting or other parting with possession the Tenant proves to the satisfaction of the Landlord, by valuation or valuations if so required by the Landlord, that the rent
payable by the Incoming Tenant under that dealing is at a rate not less than the current market rental of the Premises. The Landlord may approve a sub-letting or other parting with possession at a rate less than the current market rental of the
Premises if the Tenant delivers to the Landlord a written acknowledgement that the rate is less than the current market rental of the Premises. Such acknowledgement shall be on such terms as the Landlord’s solicitors may require;

  

	 	(g)	in the event of an assignment or transfer, the Incoming Tenant by deed covenants with the Landlord to observe and perform the Provisions on the Tenant’s part. Such deed shall be prepared
and, if necessary, stamped by the Landlord’s solicitors at the reasonable cost of the Tenant and shall be on such terms and with such parties as the Landlord’s solicitors may reasonably require. The deed may include, without limitation, a
power of attorney by the Incoming Tenant in favour of the Landlord; 

  

	 	(h)	in the event of a sub-letting or other parting with possession the Incoming Tenant by deed covenants with the Landlord not to breach the Provisions on the Tenant’s part, to observe and
perform such of the Provisions on the Tenant’s part as the Landlord may require and to observe and perform such additional obligations as the Landlord may require. Such deed shall be prepared and, if necessary, stamped by the Landlord’s
solicitors at the reasonable cost of the Tenant and shall be on such terms and with such parties as the Landlord’s solicitors may reasonably require. 

  

	 	(i)	if the Incoming Tenant is a corporation other than a corporation whose shares are quoted by Australian Securities Exchange Limited a guarantee and indemnity is provided by any holding company
(as defined under the Corporations Act) and the directors and shareholders of the Incoming Tenant and of any such holding company whereby the Landlord obtains the benefit of a guarantee and indemnity in respect of the due and punctual
performance of: 

  

	 	(i)	the Provisions on the Tenant’s part; 

  

	 	(ii)	in the case of an assignment or transfer the covenants on the Incoming Tenant’s part contained in the deed under clause 13.1(g); and 

  

	 	(iii)	in the case of a sub-letting or other parting with possession the covenants on the Incoming Tenant’s part contained in the deed under clause 13.1(h). 

 Such guarantee and indemnity shall be prepared and, if necessary, stamped by the Landlord’s solicitors at the reasonable cost of the Tenant and shall be on
such terms and with such parties as the Landlord’s solicitors may reasonably require; and 
  

	 	(j)	 in the event of an assignment or transfer the Tenant and the guarantors under any guarantee and indemnity given in support of the obligations of the Tenant by deed covenant
with the Landlord that the Tenant shall be released from the obligations of the Tenant under the Provisions and the guarantors shall be released from the obligations of the guarantors contained in such guarantee and 

					
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indemnity for the balance of the Term, any holding over and any option for renewal which may be exercised. 

  

	13.2	Corporate ownership 

 For the purpose of this part 13 where the
Tenant is a corporation other than a corporation whose shares are quoted by Australian Securities Exchange Limited an assignment shall occur if any person or persons not: 
  

	 	(a)	if the Lease was granted to the Tenant or if the Landlord has not consented to the assignment or transfer of this Lease to the Tenant then, as at the Commencement Date; or

  

	 	(b)	if the Landlord has consented to the assignment or transfer of this Lease to the Tenant then, as at the date of completion of such assignment or transfer, 

 beneficially holding or controlling, or beneficially holding or controlling between them, more than 50% of the issued capital or voting rights of the Tenant
subsequently beneficially hold or control, or beneficially hold or control between them, more than 50% of the issued capital or voting rights of the Tenant. 
  

	13.3	Trustee ownership 

 For the purpose of this part 13 where the
Tenant is a trustee of a trust other than a trust whose units are quoted by Australian Securities Exchange Limited an assignment shall occur if any person or persons not: 
  

	 	(a)	if the Lease was granted to the Tenant or if the Landlord has not consented to the assignment or transfer of this Lease to the Tenant then, as at the Commencement Date; or

  

	 	(b)	if the Landlord has consented to the assignment or transfer of this Lease to the Tenant then, as at the date of completion of such assignment or transfer, 

 beneficially holding or controlling, or beneficially holding or controlling between them, more than 50% of the issued units or voting rights of the trust of which
the Tenant is trustee subsequently beneficially hold or control, or beneficially hold or control between them, more than 50% of the issued units or voting rights of the trust of which the Tenant is trustee. 
  

	13.4	Restriction on mortgaging lease 

 The Tenant shall not mortgage, charge
or otherwise encumber the Tenant’s estate or interest in this Lease (including part of such estate or interest) without the Landlord’s prior consent, which shall not be unreasonably withheld. 
  

	13.5	Restriction on leasing or mortgaging fixtures 

 The Tenant shall not
lease, hire or mortgage any fixtures or fittings within or to be brought upon the Premises without the Landlord’s prior consent. The Landlord’s consent shall not be unreasonably withheld if the Tenant’s financier is a financial
institution first approved by the Landlord and signs the Landlord’s reasonable documentation in respect of leased hired or mortgaged fixtures or fittings. 
  

	14	Part 14 — Landlord’s title 

  

	14.1	Quiet enjoyment 

 The Tenant shall peaceably hold and enjoy the Premises
during the Term without any interruption by the Landlord or by any person rightfully claiming through, under or in trust for the Landlord. 
  

	14.2	Landlord’s successors and assigns 

 If a person other than the
Landlord becomes entitled either by operation of law or otherwise to receive the Base Rent and other money payable under the Provisions that person shall have the benefit of the 

					
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Provisions on the Tenant’s part. Upon demand by the Landlord and at the reasonable cost of the Landlord the Tenant shall enter into a covenant with that other
person in that regard upon such terms as the Landlord may reasonably require. 
  

	15	Part 15 — Tenant’s default 

  

	15.1	Definition of default 

 If: 
  

	 	(a)	the Base Rent is unpaid after the due date for payment and after 30 days of the making of demand; 

  

	 	(b)	any money payable by the Tenant to the Landlord upon demand is unpaid after 30 days of the making of demand; 

  

	 	(c)	any other money payable by the Tenant to the Landlord is unpaid after the due date for payment and after 30 days of the making of further demand; 

  

	 	(d)	the Tenant has not effected the repairs required by any notice given by the Landlord under the Provisions within the reasonable time specified in the notice; 

  

	 	(e)	the Tenant does not observe or perform any of the essential terms of this Lease on the Tenant’s part with a reasonable time of the Landlord making demand; 

  

	 	(f)	the Tenant does not observe or perform any of the other Provisions on the Tenant’s part and such failure continues for seven Business Days after the making of demand;

  

	 	(g)	the Tenant being a corporation goes into liquidation or provisional liquidation or enters into an arrangement or composition with its creditors within the meaning of the Corporations
Act; 

  

	 	(h)	the Tenant being a natural person commits an act of bankruptcy or enters into an arrangement, assignment or composition under the Bankruptcy Act 1966; or 

  

	 	(i)	the Tenant abandons or vacates the Premises; 

 the Tenant shall be in default.

  

	15.2	Forfeiture of Lease 

 If the Tenant is and remains in default, the
Landlord may without limitation to any other method of termination and after giving 14 days prior written notice where required by law or the Provisions: 
  

	 	(a)	re-enter into and take possession of the Premises and eject the Tenant and all other persons from the Premises and repossess and enjoy the Premises as of its first and former estate. Upon
such re-entry this Lease shall be terminated; 

  

	 	(b)	by written notice to the Tenant terminate this Lease. Upon such notice being given this Lease shall be terminated; or 

  

	 	(c)	 by written notice to the Tenant elect to convert the unexpired portion of the Term into a tenancy from month to month. Upon such notice being given this Lease shall be
terminated. After such termination the Tenant shall hold the Premises from the Landlord as tenant from month to month. The Tenant shall pay a monthly rent equal to the Base Rent payable monthly at the date of giving such notice. The monthly tenancy
shall otherwise be in accordance with the Provisions so far as they can be applied to a monthly tenancy including, without limitation, the provisions for variation of Base Rent but without the benefit of any option to renew. The monthly rent shall
be paid monthly in advance. The monthly tenancy may be terminated by the Tenant by giving not less than three months prior written notice given at any time and taking effect at any time in accordance with such 

					
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notice. The monthly tenancy may be terminated by the Landlord by giving not less than two months prior written notice given at any time and taking effect at any time
in accordance with such notice. 

 The termination of the Lease shall not effect or limit the entitlement of the Landlord to recover
damages. 
  

	15.3	Essential terms 

 The covenants in the following Provisions are
essential terms of this Lease: 
  

							
	Provision	  	 	  	 	  	Heading
				
	 (a)
	  	clause 4.1	  		  	Payment of Base Rent;
				
	 (b)
	  	part 5	  		  	Electricity, Gas, Water and Other Charges;
				
	 (c)
	  	clause 6.2	  		  	Electrical Overloading;
				
	 (d)
	  	clause 6.4	  		  	Maintenance Contracts;
				
	 (e)
	  	clause 7.1	  		  	Permitted Use;
				
	 (f)
	  	clause 7.2	  		  	Compliance with Statutes;
				
	 (g)
	  	clause 7.4	  		  	Offensive or Illegal Conduct;
				
	 (h)
	  	clause 7.9	  		  	Structural Overloading;
				
	 (i)
	  	clause 8.1	  		  	Condition of Premises;
				
	 (j)
	  	clause 9.1	  		  	No Alteration Without Consent;
				
	 (k)
	  	clause 12.1	  		  	Tenant’s Insurances;
				
	 (l)
	  	clause 12.3	  		  	Tenant not to Void Insurance;
				
	 (m)
	  	clause 13.1	  		  	Restriction on Assignment and Sub-Letting; and
				
	 (n)
	  	clause 17.1	  		  	Bank Guarantee.

 Without limitation to this clause, any further Provisions on the Tenant’s part, the performance of which
the Landlord considered at the Commencement Date so essential or fundamental that the Landlord would not otherwise have entered into this Lease shall also be essential terms of this Lease. The Tenant’s failure to strictly perform or observe the
essential terms of this Lease and the Landlord’s failure or delay to take any action in respect of such failure shall not constitute a waiver of the essentiality of the Tenant’s obligations under the essential terms. 
  

	15.4	Damages 

 The Tenant shall compensate the Landlord for any loss or
damage suffered as a result of the breach or default of the Tenant under the Provisions. The Tenant’s obligation to compensate the Landlord is not in substitution for or derogation of any other right the Landlord may have. 
  

	15.5	Repudiation 

 If: 
  

	 	(a)	the Tenant defaults under an essential term of this Lease; or 

  

	 	(b)	the Landlord accepts the Tenant’s repudiation of this Lease, 

 the Tenant
shall compensate the Landlord for any reasonable loss or damage suffered in respect of the Lease subject to the Landlord’s obligations to use its best endeavours to mitigate its loss or damages. 

					
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	15.6	Interest on overdue money 

 If the Tenant does not pay to the Landlord
any money payable under the Provisions upon demand within 30 days of the making of demand or the Tenant shall pay to the Landlord interest on such money or on so much of such money as shall remain unpaid from the due date for payment until and
including the date the money is paid and also upon any judgment which the Landlord may obtain against the Tenant from the due date for payment until and including the date the judgment is satisfied. The interest shall be calculated at the rate equal
to the Westpac Indicator Lending Rate quoted from time to time plus 2% per annum. 
 The interest shall accrue on a daily basis, shall be paid on
the first day of each month where an amount was payable in the preceding month or months and shall be capitalised on the first day of each month. If the Westpac Indicator Lending Rate is discontinued or ceases to be quoted then the rate of interest
under clause 15. 6(d) shall be calculated as provided in that clause based upon such other indicator of bank interest rates as in the opinion of the Landlord has been substituted for such rate or in the absence of such substitution the
current maximum overdraft rate for the time being applied by the Commonwealth Bank of Australia at its principal office in Brisbane, Queensland. A certificate as to a rate referred to in this clause given to the Landlord and signed by an officer of
the relevant bank shall be final and binding on the Landlord and the Tenant. 
  

	15.7	Non-waiver 

 The Landlord’s failure to act in respect of any
default or breach of the Tenant shall not be or be construed as a waiver of that default or breach. Any custom or practice which may develop between the Landlord and the Tenant in the administration of this Lease shall not be construed to waive or
to lessen the right of the Landlord to require the strict performance or observance by the Tenant of the Provisions or to exercise any rights given to the Landlord in respect of any such default or breach. Any waiver by the Landlord must be in
writing and if not in writing shall be of no effect. 
  

	15.8	Waiver not to constitute licence 

 The waiver by the Landlord of any
default or breach of the Tenant shall not in any circumstances be construed or operate as a licence to the Tenant to repeat or continue any such default or breach. No such waiver shall be construed or operate as a waiver of any subsequent default or
breach whether of the like nature or not. 
  

	15.9	Acceptance of money not waiver 

 The demand by the Landlord for, or the
acceptance by the Landlord of, Base Rent or other money payable by the Tenant to the Landlord shall not constitute a waiver of any prior default or breach by the Tenant of any Provision, other than the Tenant’s failure to make the particular
payment or payments so accepted. 
  

	15.10	Tender after termination 

 In the absence of any express election by the
Landlord, any money tendered by the Tenant after the termination of this Lease may be accepted by the Landlord and if accepted, shall be applied firstly on account of any Base Rent and other money payable under the Provisions but unpaid at the date
of termination and secondly on account of the Landlord’s costs of termination. 
  

	15.11	Landlord may rectify 

 If the Tenant does not pay any money as required
under the Provisions to any person other than the Landlord or if the Tenant does not perform any obligation under the Provisions the Landlord may as the agent of the Tenant for such purpose, make such payment or perform such obligation and incur
such costs as may be necessary to perform such obligation. The Landlord shall not be under any obligation to make such payment or perform such obligation. The Tenant shall pay to the Landlord within 15 Business Days demand, the full amount of any
payments made and costs incurred by the Landlord under this clause. 
  

					
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	15.12	Removal of contents 

 Upon the termination of this Lease the Landlord
may remove from the Premises any contents, including, without limitation, plant, equipment, stock-in-trade and other fixtures and fittings of the Tenant, and store the contents in a public warehouse or otherwise. The Landlord shall not by such
action be guilty of conversion or trespass or become liable for any loss or damage occasioned to such contents. The Tenant shall bear all risks in respect of such removal and storage. The Tenant shall pay to the Landlord upon demand all reasonable
costs in respect of such removal and storage. 
  

	16	Part 16 — Tenant’s property 

  

	16.1	Tenant to yield up 

 When this Lease is terminated (whether by effluxion
of time or otherwise) the Tenant shall yield up the Premises in the order and condition required under clause 8.1. 
  

	16.2	Tenant’s right to remove property 

 If the Tenant is not in default
under the Provisions the Tenant may during the last 20 Business Days of the Term remove from the Premises any property owned, hired or leased (other than from the Landlord) by the Tenant, provided that such removal can be effected without causing
any substantial or structural damage to the Premises. The Tenant shall make good any damage caused to the Premises by such removal. 
  

	16.3	Tenant’s obligation to remove property 

 Upon demand by the
Landlord the Tenant shall remove from the Premises within 20 Business Days from the later of: 
  

	 	(a)	termination of this Lease (whether by effluxion of time or otherwise); and 

  

	 	(b)	the making of demand, 

 such items of property owned, hired or leased (other
than from the Landlord) by the Tenant as nominated by the Landlord. The Tenant shall make good any damage caused to the Premises by such removal. Within a reasonable time of demand by the Landlord, the Tenant shall reinstate any alterations made to
the Premises by the Tenant or any previous tenant of the Premises so that the Premises are converted back to the original condition of the Premises as at the Commencement Date and prior to such alterations. 
  

	16.4	Landlord’s right to remove property 

 If the Tenant has not removed
the property referred to in clauses 16.2 or 16.3 the Landlord may remove such property and make good any damage and reinstate any alterations. The Tenant shall pay to the Landlord within 21 days of demand, the reasonable costs to
the Landlord of such removal, making good or reinstatement. 
  

	16.5	Abandoned fittings and goods 

 If any property referred to in clauses
16.2 or 16.3 owned by the Tenant, is not removed by the Tenant under clauses 16.2 or 16.3 the Tenant shall be deemed to have abandoned the Tenant’s interest and proprietary rights in such property and the Landlord, at
the election of the Landlord as notified in writing to the Tenant, shall from the date specified in the Landlord’s notice of election be deemed to be the full legal and beneficial owner of such property free of all encumbrances, charges and
other claims whatsoever. Until the Landlord elects under this clause the Landlord may deal with that property under clause 15.12. 
  

					
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	17	Part 17 — Performance security 

  

	17.1	Bank guarantee 

 The Tenant shall: 
  

	 	(a)	deliver to the Landlord on or before the earlier of: 

  

	 	(i)	the Tenant’s execution of this Lease; and 

  

	 	(ii)	the Commencement Date, 

 a Bank Guarantee for the Security Amount; and

  

	(b)	where the Landlord makes demand under any Bank Guarantee held by the Landlord under this clause 17.2, deliver to the Landlord a further Bank Guarantee equal to the amount demanded or
appropriated by the Landlord. 

  

	17.2	Security deposit 

 The Landlord may accept from the Tenant a sum of
money in satisfaction, to the extent of the sum accepted, of the Tenant’s obligations to deliver any Bank Guarantee under clause 17.1. Subject to the Landlord’s rights under clause 17.3, the Landlord shall invest or cause to
be invested any sum held by the Landlord under this clause in any form of investment nominated by the Landlord and permitted by law. If the Tenant exercises any option for renewal the Landlord may retain and invest any sum held by the Landlord under
this clause. 
  

	17.3	Claim on performance security 

 The Landlord may, from time to time:

  

	 	(a)	make demand under any Bank Guarantee held by the Landlord under clause 17.1; 

  

	 	(b)	appropriate any sum held by the Landlord under clause 17.2; or 

  

	 	(c)	exercise the Landlord’s rights under clause 17.3(a) and clause 17.3(b), 

 as compensation in respect of any breach of the Provisions on the Tenant’s part. The exercise of the Landlord’s rights under this clause is not in substitution for or derogation of any other rights the Landlord may
have. 
  

	18	Part 18 — Option for renewal 

  

	18.1	Conditions of exercise of Option 

 If the Tenant desires a further lease
of the Premises for the Option Term, clause 18.2 shall apply if: 
  

	 	(a)	the Tenant gives written notice of exercise of option to the Landlord during the Option Exercise Period; 

  

	 	(b)	this Lease has not been terminated or surrendered; and 

  

	 	(c)	there is not at the time of giving the notice under clause 18.1(a) or thereafter prior to the Expiry Date any unremedied breach of the Provisions on the Tenant’s part which has
not been waived by the Landlord. 

  

	18.2	Grant of Option Term 

 Subject to clause 18.1 the Landlord shall
grant to the Tenant and the Tenant shall accept from the Landlord a further lease of the Premises for the Option Term upon the same terms, with the necessary changes, as are contained in this Lease except for: 
  

					
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	 	(a)	this part 18 which shall be omitted; and 

  

	 	(b)	the Base Rent payable during the Option Term which shall be determined under the Provisions contained in part A. 

  

	18.3	Execution of Lease 

 If the lease for the Option Term is granted the
parties shall promptly enter into a deed of renewal. Such lease or deed shall be prepared and registered by the Tenant’s solicitors at the cost of the Tenant. If the Base Rent for the Option Term has not been determined by the commencement date
of the Option Term the Tenant shall pending such determination and the execution of the lease or deed be bound by the terms of the lease for the Option Term on the Tenant’s part. Subject to the Provisions contained in part A, if the Base
Rent for the Option Term has not been determined by the commencement date of the Option Term then pending such determination the Tenant shall pay Base Rent at the rate payable as at the Expiry Date. Upon such determination the Landlord and the
Tenant shall promptly make any necessary adjustment. 
  

	19	GST 

  

	19.1	Interpretation 

 In this clause 19: 
  

	 	(a)	words and expressions which are not defined in this Lease but which have a defined meaning in GST Law have the same meaning as in the GST Law; and 

  

	 	(b)	GST Law has the meaning given to that expression in the A New Tax System (Goods and Services Tax) Act 1999. 

  

	19.2	Consideration GST exclusive 

 Unless otherwise expressly stated, all
amounts or other sums payable or consideration to be provided under this Lease are exclusive of GST. 
  

	19.3	Payment of GST 

 If GST is payable by a supplier, or by the
representative member for a GST group of which the supplier is a member, on any supply made under this Lease, the recipient will pay to the supplier an amount equal to the GST payable on the supply. 
  

	19.4	Timing of GST payment 

 The recipient will pay the amount referred to in
clause 19.3 in addition to and at the same time that the consideration for the supply is to be provided under this Lease. 
  

	19.5	Tax invoice 

 The supplier must deliver a tax invoice or an adjustment
note to the recipient before the supplier is entitled to payment of an amount under clause 19.3. The recipient can withhold payment of the amount until the supplier provides a tax invoice or an adjustment note, as appropriate. 
  

	19.6	Adjustment event 

 If an adjustment event arises in respect of a taxable
supply made by a supplier under this Lease, the amount payable by the recipient under clause 19.3 will be recalculated to reflect the adjustment event and a payment will be made by the recipient to the supplier or by the supplier to the
recipient as the case requires. 
  

					
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	19.7	Reimbursements 

 Where a party is required under this Lease to pay or
reimburse an expense or outgoing of another party, the amount to be paid or reimbursed by the first party will be the sum of: 
  

	 	(a)	the amount of the expense or outgoing less any input tax credits in respect of the expense or outgoing to which the other party, or to which the representative member for a GST group of which
the other party is a member, is entitled; and 

  

	 	(b)	if the payment or reimbursement is subject to GST, an amount equal to that GST. 

  

					
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	 Schedule
	  	
		
	 Lease Details
	  	
		
	 Agreement
	  	Not applicable
		
	 Base Rent
	  	$72,000.00 per annum
		
	 Commencement Date
	  	1 June 2007
		
	 Expiry Date
	  	31 May 2012
		
	 Indexation Review Date
	  	1 June 2008, 1 June 2009, 1 June 2010, 1 June 2011
		
		  	If Option exercised:
		
		  	1 June 2013, 1 June 2014, 1 June 2015, 1 June 2016
		
	 Landlord
	  	Garrels Investments Pty Ltd
		
	 Market Review Area
	  	Gold Coast
		
	 Market Review Date
	  	1 June 2012
		
	 Minimum Increase Percentage
	  	4%
		
	 Option Exercise Period
	  	The period from 12 months before the Expiry Date to 3 months before the Expiry Date
		
	 Option Term
	  	5 years
		
	 Permitted Use
	  	For the extraction and maintenance of an active pharmaceutical ingredient (API) from a natural source raw material and the conversion of that API to the final pharmaceutical drug and all
associated activities, including the analytical testing of the drug in a laboratory.
		
	 Premises Address
	  	18 Olympic Circuit, Southport Qld 4215
		
	 Public Liability Amount
	  	$10,000,000.00
		
	 Security Amount
	  	$13,200.00
		
	 Tenant
	  	Peplin Operations Pty Ltd
		
	 Term
	  	Five yearsPharmaceuticals Partnerships Program Funding Agreement

 Exhibit 10.20 
 PHARMACEUTICALS PARTNERSHIPS PROGRAM 
 p 3 
 FUNDING AGREEMENT 
  
  
 GENERAL CONDITIONS 
  
  
 Pharmaceuticals Partnerships Program General Conditions

 Version 2.0 — Release Date: June 2005 
  

 (ii) 
 CONTENTS 
  

			
	1 INTERPRETATION	  	1
	  1.1 Definitions	  	1
	  1.2 Construction	  	7
	  1.3 Headings	  	8
		
	2 PERFORMANCE AND UNDERTAKING	  	8
		
	3 PAYMENT OF FUNDING	  	9
	  3.1 Payment by Commonwealth	  	9
	  3.2 Payment in respect of Actual Expenditure in a Payment Year	  	9
	  3.3 Underperformance in a Payment Year may be offset by Overperformance in Previous Financial Years	  	9
	  3.4 Payment in respect of Overperformance in a Payment Year	  	10
	  3.5 Overperformance in a Payment Year may offset Underperformance in the immediately preceding Financial Year	  	10
	  3.6 Conditions precedent to payment	  	11
	  3.7 Maximum payment	  	11
	  3.8 Process and time for payment	  	12
	  3.9 Taxable grant	  	13
	  3.10 Set-off	  	14
	  3.11 Recovery by Commonwealth	  	14
		
	4 COMMONWEALTH’S DETERMINATION BINDING	  	14
	  4.1 Matters for binding determination	  	14
	  4.2 Procedure for binding determination	  	14
		
	5 BASE EXPENDITURE	  	15
	  5.1 Audit Statement	  	15
	  5.2 Adjustment of Base Expenditure	  	15
	  5.3 Adjustment of maximum payments	  	15
		
	6 MATTERS FOR REPORTING	  	16
	  6.1 Cessation of activity and change in corporate group	  	16
	  6.2 Government Grants	  	17
		
	7 REPORTS	  	17
	  7.1 Reporting and estimating expenditure	  	17
	  7.2 Quarterly Reports	  	17
	  7.3 Annual Report	  	18
	  7.4 Requesting further information	  	18
	  7.5 Extension of time for Reports	  	19
	  7.6 Failure to submit Reports	  	19
	  7.7 Evaluation	  	19
		
	8 REVIEW	  	19
	  8.1 Annual Assessment and Mid Term Review	  	19
	  8.2 Ad Hoc Review trigger	  	19

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 (iii) 
  

			
	     8.3 Ad Hoc Review process
	  	20
	     8.4 Effect of Ad Hoc Review
	  	20
		
	 9 INTELLECTUAL PROPERTY
	  	22
	     9.1 Vesting of Intellectual Property
	  	22
	     9.2 Licence
	  	22
	     9.3 Documentation
	  	22
	     9.4 Warranty
	  	22
		
	 10 CONFIDENTIALITY
	  	22
	     10.1 Publicity
	  	22
	     10.2 Confidential Information
	  	23
		
	 11 RECORDS AND AUDIT
	  	23
	     11.1 Records
	  	23
	     11.2 Approvals and contract R&D
	  	24
	     11.3 Inspection and audit
	  	24
		
	 12 WARRANTIES
	  	25
	     12.1 Corporate capacity
	  	25
	     12.2 Application and Portfolio
	  	25
	     12.3 Other warranties
	  	26
	     12.4 Notification of breach
	  	27
		
	 13 TERM AND TERMINATION
	  	28
	     13.1 Term
	  	28
	     13.2 Termination at any time
	  	28
	     13.3 Termination for default
	  	29
	     13.4 Force majeure
	  	29
	     13.5 Survival of obligations after terminations
	  	29
		
	 14 COMMUNICATIONS
	  	29
	     14.1 General
	  	29
	     14.2 How to give a Communication
	  	29
	     14.3 Email communication
	  	30
	     14.4 Current address for delivery of Communications
	  	30
	     14.5 Communications by post
	  	30
	     14.6 Communications by facsimile
	  	30
	     14.7 After hours communications
	  	30
	     14.8 Process service
	  	31
		
	 15 GST
	  	31
	     15.1 Construction
	  	31
	     15.2 Consideration GST exclusive
	  	31
	     15.3 Payment of GST
	  	31
	     15.4 Timing of GST payment
	  	31
	     15.5 Tax invoice
	  	31
	     15.6 Adjustment event
	  	31
	     15.7 Reimbursements
	  	32
	     15.8 Recipient created tax invoice
	  	32
	     15.9 Acknowledgment by Commonwealth
	  	32

  

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	     15.10 Acknowledgment by Participant
	  	32
		
	 16 SUBSTITUTION, VARIATION, ASSIGNMENT AND WAIVER
	  	32
	     16.1 Substitution and variation
	  	32
	     16.2 Assignment and dealing
	  	33
	     16.3 Waiver and exercise of rights
	  	33
		
	 17 GENERAL
	  	33
	     17.1 Further steps
	  	33
	     17.2 Governing law and jurisdiction
	  	33
	     17.3 Liability
	  	33
	     17.4 Good faith and reasonableness
	  	33
	     17.5 Relationship of parties
	  	34

  

 Pharmaceuticals Partnerships Program General Conditions 
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 OPERATIVE PROVISIONS 
  

	1	INTERPRETATION 

  

	1.1	Definitions 

 In this Funding Agreement: 
 “Accrued Overperformance” means any part of Overperformance in Previous Financial Years which has not been used previously to offset
Underperformance under clause 3.3 or clause 3.5 and has not been the subject of a payment under clause 3.4(b). 
 “Accrued
Underperformance”, in relation to a Payment Year, means any part of Underperformance in the Financial Year immediately preceding the Payment Year which has not been previously offset by Overperformance under clause 3.3. 

“Actual Activity”, in relation to a Financial Year, means the Eligible Pharmaceutical R&D Activity performed by the Participant and Members,
or performed for or on behalf of the Participant or a Member by any person under a contract with the Participant or a Member, during that Financial Year. 
 “Actual Expenditure”, in relation to a Financial Year, means the Eligible Expenditure which the Participant and Members have spent on the Actual Activity in that Financial Year. 
 “Ad Hoc Review” means an assessment under clause 8.3(a). 
 “Annual Report” means a report in accordance with clause 7.3. 
 “Application” means the
application to participate in the Round of the Program submitted by the Participant. 
 “Approvals” means all legislative, ethical,
government and regulatory approvals required in relation to the Portfolio and includes Ethical and Regulatory Approvals. 
 “Audit
Statement” means a statement which: 
  

	 	(a)	is prepared and personally signed by a registered company auditor or an authorised audit company, neither being an associate, employee, shareholder, director or other officeholder of the
Participant or a member of the Group; 

  

	 	(b)	contains a declaration that the Program Guidelines have been complied with by the Participant in the calculation of expenditure; 

  

	 	(c)	is prepared in accordance with the Program Guidelines; and 

  

	 	(d)	is prepared in accordance with auditing standard AUS902 “Review of Financial Reports” issued by the Australian Accounting Research Foundation. 

 “Audited Third Base Year Expenditure” means the Eligible Expenditure spent on the Portfolio in the Third Base Year by the Participant and people
who were members of the 
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 Group at the closing date for submission of applications to participate in the Round, as verified by the Audit
Statement under clause 5.1. 
 “Base Expenditure” means: 
  

	 	(a)	where the Commonwealth has not issued a notice under clause 5.2, the amount set out in Item 2(d) of the Schedule; or 

  

	 	(b)	where the Commonwealth has issued a notice under clause 5.2, the amount of Base Expenditure set out in the notice or, if no amount of Base Expenditure is set out in the notice, the
Base Expenditure calculated in accordance with clause 5.2. 

 “Business Day” means a day which is not a Saturday,
Sunday or public holiday in Canberra. 
 “Commonwealth” means the Commonwealth of Australia and includes the Minister (as defined in
the Directions), the delegate of the Minister as defined in the Directions), the Industry Research and Development Board and the Pharmaceuticals Committee of the Industry Research and Development Board. “Communication” means a
notice, demand, certification, process, approval, consent, proposal or other communication from one party to the other party relating to this Funding Agreement. 
 “Confidential Information” means all information belonging to the Participant, a Member or any person who performs Eligible Pharmaceutical R&D Activity under a contract with the Participant or a Member that
is by its nature confidential, and includes to the extent that it is confidential: 
  

	 	(a)	information forming part of or relating to the Application; 

  

	 	(b)	subject to this Funding Agreement, information relating to a specific Eligible Pharmaceutical R&D Activity; and 

  

	 	(c)	Contract Material; 

 but does not include information that: 
  

	 	(a)	is in or becomes part of the public domain other than through breach of this Funding Agreement or an obligation of confidence owed to the owner of the information; or

  

	 	(b)	the Commonwealth acquires from another source entitled to disclose it. 

 “Contract Material” means all Material: 
  

	 	(a)	brought into existence by the Participant for the purpose of reporting on the performance of its obligations under this Funding Agreement; 

  

	 	(b)	incorporated in, supplied or required to be supplied with the Material referred to in paragraph (a). 

 “Control”, in relation to an entity, means: 
  

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	 	(a)	legally or beneficially owning more than 50% of any distribution of capital or income from the entity; or 

  

	 	(b)	having the right to exercise more than 50% of the voting power in respect of the entity. 

 “Directions” means the Pharmaceutical Partnerships Program Directions No. 1 of 2004 given by the Minister for Industry, Tourism and Resources under subsections 19(1) and 20(1) of the Industry Research
and Development Act 1986 (Cth). 
 “Eligibility Criteria” means the eligibility criteria for the Program as set out in
Section 3 of the Program Guidelines. 
 “Eligible Expenditure” has the meaning given in section 6 of the Program Guidelines.

 “Eligible Pharmaceutical R&D Activity” means an eligible pharmaceutical research and development (R&D) activity as defined
in the Directions and the Program Guidelines which is performed by the Participant or a Member or performed for or on behalf of the Participant or a Member by any person under a contract with the Participant or a Member, in connection with the
Portfolio. 
 “Estimated Third Base Year Expenditure” means the estimated Eligible Expenditure spent or to be spent on the Portfolio in
the Third Base Year by the Participant and people who were members of the Group at the closing date for submission of applications to participate in the Round, as set out in the Application. 
 “Ethical and Regulatory Approval” means, in relation to an activity, prior formal approval by a qualified regulatory body or committee that the
activity complies with all relevant ethics codes and guidelines adopted by the National Health and Medical Research Council, the Office of the Gene Technology Regulator, the Therapeutic Goods Administration and all other relevant regulatory agencies
operating in Australia. 
 “Exit Date” means the date set out in Item 1(b) of the Schedule. 
 “Financial Year” means the 12 month period beginning on 1 July in one calendar year and ending on 30 June in the following calendar
year. 
 “First Base Year” means the Financial Year set out in Item 2(a) of the Schedule. 
 “Forecast Activity”, in relation to a Financial Year, means the Eligible Pharmaceutical R&D Activity which the Participant proposes that the
Participant and Members will perform, or will procure a person to perform for or on behalf of the Participant or a Member under a contract with the Participant or a Member, in that Financial Year, being the activity set out in Item 5 of the
Schedule. 
 “Forecast Expenditure”, in relation to a Financial Year, means the Eligible Expenditure which the Participant proposes
that the Participant and Members will spend on the Portfolio in that Financial Year, being: 
  

	 	(a)	where the Commonwealth has not issued a notice under clause 8.4, the amount of Forecast Expenditure set out in Item 3 of the Schedule in respect of that Financial Year; or

  

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	 	(b)	where the Commonwealth has issued one or more notices under clause 8.4, the amount set out in the most recent notice in respect of that Financial Year or, if no amount is set out in
the most recent notice, the amount calculated in accordance with clause 8.4 for that Financial Year as at the date of the most recent notice. 

 “Funding” means the funding provided to the Participant under this Funding Agreement. 
 “Funding
Agreement” means this deed. 
 “Government Grant” means any financial assistance, other than by way of equity injection, from
a Commonwealth, State or Territory government source in respect of the Portfolio excluding funding under this Funding Agreement. 
 “Group” means all: 
  

	 	(a)	persons who Control the Participant; 

  

	 	(b)	persons who are Controlled by the Participant; and 

  

	 	(c)	persons who are Controlled by a person referred in paragraph (a) or (b). 

 “GST Law” has the meaning given to that expression in the GST Act. 
 “GST Act” means the A New Tax System
(Goods and Services Tax) Act 1999 (Cth). 
 “Insolvency Event” means in relation to a person, any of the following: 
  

	 	(a)	a person is or states the person is unable to pay from the person’s own money all the person’s debts as and when they become due and payable; 

  

	 	(b)	a person is taken or must be presumed to be insolvent or unable to pay its debts under any applicable legislation; 

  

	 	(c)	an application or order is made for the winding up or dissolution or a resolution is passed or any steps are taken to pass a resolution for the winding up or dissolution of a person;

  

	 	(d)	an administrator, provisional liquidator, liquidator or person having a similar or analogous function under the laws of any relevant jurisdiction is appointed in respect of the corporation or
any action is taken to appoint any such person; 

  

	 	(e)	a receiver or receiver and manager is appointed in respect of any property of a person; 

  

	 	(f)	a corporation is deregistered under the Corporations Act 2001 (Cth) or notice of its proposed deregistration is given to the corporation; 

  

	 	(g)	a distress, attachment or execution is levied or becomes enforceable against any property of a person; 

  

	 	(h)	 a person enters into or takes any action to enter into an arrangement (including a scheme of arrangement or a deed of company arrangement), composition or 

  

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compromise with, or assignment for the benefit of, all or any class of the person’s creditors or members or a moratorium involving any of them; or

  

	 	(i)	anything analogous to or of a similar effect to anything described above under the law of any relevant jurisdiction occurs in respect of a person. 

 “Intellectual Property” includes all copyright and neighbouring rights, all rights in relation to inventions (including patent rights), plant
breeder’s rights, registered and unregistered trade marks (including service marks), registered designs, confidential information (including trade secrets and know how) and circuit layouts and all other rights resulting from intellectual
activity in the industrial, scientific, literary or artistic fields. 
 “Interest” means an amount of interest calculated: 

 

	 	(a)	at the rate set out in Item 7 of the Schedule; 

  

	 	(b)	on a daily basis upon the amount that was and is outstanding (as the case may be) in respect of each amount required to-be repaid; 

  

	 	(c)	from and including the day when any part of the moneys upon which interest is payable was first paid to the Participant by the Commonwealth under this Funding Agreement until but excluding
the day of payment of those moneys; and 

  

	 	(d)	on the actual number of days elapsed on the basis of a 365 day year. 

 “Material” includes document, equipment, software, information and data stored by any means. 
 “Maximum Annual
Payment”, in respect of a Financial Year, means: 
  

	 	(a)	where the Commonwealth has not issued a notice under clause 5.3(d) or clause 8.4, the Maximum Annual Payment set out in respect of that Financial Year in Item 3 of the
Schedule; or 

  

	 	(b)	where the Commonwealth has issued one or more notices under clause 5.3(d) or clause 8.4, the Maximum Annual Payment in respect of that Financial Year set out in the most recent
notice or, if no Maximum Annual Payment is set out in the most recent notice, the amount calculated in accordance with clause 5.3(d) or clause 8.4 (as appropriate) as at the date of the notice. 

 “Maximum Payment” means: 
  

	 	(a)	where the Commonwealth has not issued a notice under clause 5.3(d) or clause 8.4, the Maximum Payment set out in Item 3 of the Schedule; or 

  

	 	(b)	where the Commonwealth has issued one or more notices under clause 5.3(d) or clause 8.4, the Maximum Payment set out in the most recent notice or, if no Maximum Payment is set
out in the most recent notice, the Maximum Payment calculated in accordance with clause 5.3(d) or clause 8.4 (as appropriate) as at the date of the notice. 

  

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 “Member” means a person set out in Item 6 of the Schedule, being a person who is a member
of the Group and who either performs Eligible Pharmaceutical R&D Activity, or procures any person to perform Eligible Pharmaceutical R&D Activity for or on behalf of the Member under a contract with the Member, or both. 
 “Merit Criteria” means the merit criteria set out in section 5 of the Program Guidelines and in the Directions. 
 “Mid Term Review” means the review set out in clause 8.1(a)(ii). 
 “Overperformance” means, in relation to a Financial Year, the amount by which the Actual Expenditure in respect of that Financial Year exceeds Forecast Expenditure in respect of that Financial Year. 

“Participant” means the company identified as the Participant in the Particular Conditions. 
 “Particular Conditions” means the Particular Conditions entered into by the Participant and the Commonwealth which refer to these General
Conditions. 
 “Payment Calculation Guide” means the payment calculation guide for the Program provided by the Commonwealth to the
Participant on or about the date of this deed, and as amended from time to time by the Commonwealth by notice in writing to the Participant. 
 “Payment Year” means a Financial Year during the term of this Funding Agreement. 
 “Performance Milestones”
means the performance milestones set out in Item 5 of the Schedule. 
 “Preceding Year” means the Financial Year immediately
preceding the relevant Payment year. 
 “Portfolio” means the agreed portfolio of R&D activities set out in Item 4 of the
Schedule. 
 “Previous Financial Years”, in relation to a Financial Year, means the Financial Years occurring in the period from the
Start Date to the beginning of that Financial Year. 
 “Program” means the
Pharmaceuticals Partnerships Program, known as P 3, administered by the Department of Industry, Tourism and Resources. 
 “Program Funding” means the funding made available by the Parliament of the Commonwealth of Australia for the Program in any given Financial Year,
being the funding specified in the Portfolio Budget Statement (as varied by any Portfolio Additional Estimates Statement). 
 “Program
Guidelines” means the Pharmaceuticals Partnerships Program Guidelines for Round Two published by the Department of Industry, Tourism and Resources, dated August 2004. 
 “Quarter” means a period of 3 months beginning on 1 July, 1 October, 1 January or 1 April of any Financial Year.

  

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 “Quarterly Report” means a report in accordance with clause 7.2. 
 “Report” means any report required to be submitted to the Commonwealth by the Participant under this Funding Agreement and includes the Audit
Statement under clause 5.1, Quarterly Reports and the Annual Report. 
 “Round” means the funding round for the Program which
starts on the Start Date. 
 “Second Base Year” means the Financial Year set out in Item 2(b) of the Schedule. 
 “Schedule” means the schedule to the Particular Conditions. 
 “Start Date” means the date set out in Item 1(a) of the Schedule. 
 “Third Base Year”
means the Financial Year set out in Item 2(c) of the Schedule. 
 “Underperformance” means, in relation to a Financial (Year, the
amount by which Forecast Expenditure in respect of that Financial Year exceeds Actual Expenditure in respect of that Financial Year. 
  

	1.2	Construction 

 Unless expressed to the contrary, in this Funding
Agreement: 
  

	 	(a)	words in the singular include the plural and vice versa; 

  

	 	(b)	any gender includes the other genders; 

  

	 	(c)	if a word or phrase is defined its other grammatical forms have corresponding meanings; 

  

	 	(d)	“includes” means includes without limitation; 

  

	 	(e)	no rule of construction will apply to a clause to the disadvantage of a party merely because that party put forward the clause or would otherwise benefit from it; 

  

	 	(f)	a reference to: 

  

	 	(i)	a person includes a partnership, joint venture, unincorporated association, corporation and a government or statutory body or authority; 

  

	 	(ii)	a person includes the person’s legal personal representatives, successors and permitted assigns and persons substituted by novation, if permitted; 

  

	 	(iii)	an organization includes a body which replaces or substitutes for that organization, having substantially the same functions as that organization; 

  

	 	(iv)	any legislation includes subordinate legislation under it and includes that legislation and subordinate legislation as modified or replaced; 

  

	 	(v)	an obligation includes a warranty or representation and a reference to a failure to comply with an obligation includes a breach of warranty or representation; 

  

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	 	(vi)	a right includes a benefit, remedy, discretion or power; 

  

	 	(vii)	time is to local time in Canberra; 

  

	 	(viii)	“$” or “dollars” is a reference to Australian currency; 

  

	 	(ix)	this or any other document includes the document as novated, varied or replaced and despite any change in the identity of the parties, and 

  

	 	(x)	a clause, schedule or annexure is a reference to a clause schedule or annexure, as the case may be, of this Funding Agreement, 

  

	 	(g)	if the date on or by which any act must be done under this Finding Agreement is not a Business Day, the act must be done on or by the next Business Day; and 

  

	 	(h)	where time is to be calculated by reference to a day or event, that day or the day of that event is excluded. 

  

	1.3	Headings 

 Headings do not affect the interpretation of this Funding
Agreement. 
  

	2	PERFORMANCE AND UNDERTAKING 

  

	 	(a)	Subject to this Funding Agreement, the Participant must, or must procure Members (either personally or through other persons) to perform the Forecast Activity and undertake the Forecast
Expenditure. 

  

	 	(b)	In performing, undertaking and procuring the performance and undertaking of the Forecast Activity and the Forecast Expenditure, the Participant must make every effort to ensure that the
Performance Milestones are met. 

  

	 	(c)	The Participant must procure that all Eligible Pharmaceutical R&D Activity performed by a person other than the Participant or a Member is the subject of a prior contract between that
person and the Participant or the Member (as the case may be) which specifies the nature of the work to be performed. 

  

	 	(d)	The Participant acknowledges and agrees that although all or any part of the Forecast Activity or the Forecast Expenditure may be performed or undertaken by a person other than the
Participant, the Participant remains responsible for ensuring that all obligations of the Participant under this Funding Agreement are met. 

  

	 	(e)	In performing, undertaking and procuring the performance and undertaking of the Forecast Activity and the Forecast Expenditure, the Participant must, and must procure all persons performing
or undertaking the Forecast Activity and the Forecast Expenditure to: 

  

	 	(i)	obtain and comply with all Approvals; 

  

	 	(ii)	comply with all applicable laws, legislation and regulations of the Commonwealth or of any State, Territory or local authority, including the 

  

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 Crimes Act 1914 (Cth), Privacy Act 1998 (Cth), Racial Discrimination Act 1975 (Cth),
Sex Discrimination Act 1984 (Cth) and Disability Discrimination Act 1992 (Cth); and 
  

	 	(iii)	comply with all relevant obligations under the Equal Opportunity for Women in the Workplace Act 1999 (Cth). 

  

	3	PAYMENT OF FUNDING 

  

	3.1	Payment by Commonwealth 

 Subject to this Funding Agreement, for each
Payment Year, the Commonwealth must pay to the Participant the aggregate of: 
  

	 	(a)	if clause 3.2 applies, the amount calculated in accordance with clause 3.2 in respect of the Payment Year; 

  

	 	(b)	if clause 3.3 applies, the amount calculated in accordance with clause 3.3 in respect of the Payment Year; 

  

	 	(c)	if clause 3.4 applies, the amount which the Commonwealth elects to pay in respect of the Payment Year in accordance with clause 3.4; and 

  

	 	(d)	if clause 3.5 applies, the amount calculated in accordance with clause 3.5 in respect of the Payment Year, 

 less the amount of any Government Grant receivable in respect of the Payment Year, and otherwise in accordance with the payment Calculation Guide. 
  

	3.2	Payment in respect of Actual Expenditure in a Payment Year 

 Where the
Actual Expenditure in the Payment Year exceeds Base Expenditure, the amount to be paid under clause 3.1(a) in respect of the Payment Year is the lower of: 
  

	 	(a)	the Maximum Annual Payment for the Payment Year; and 

  

	 	(b)	an amount calculated in accordance with the formula: 

 (AE – BE) x 30%

 where: 
  

	 	(i)	AE means Actual Expenditure for the Payment Year; and 

  

	 	(ii)	BE means Base Expenditure. 

  

	3.3	Underperformance in a Payment Year may be offset by Overperformance in Previous Financial Years 

 Subject to this Funding Agreement, where: 
  

	 	(a)	there is Underperformance in the Payment Year; 

  

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	 	(b)	an amount of Accrued Overperformance remains at the end of the Payment Year; 

  

	 	(c)	[ the Participant meets the 75% test ] the aggregate of: 

  

	 	(i)	the Actual Expenditure incurred in the Payment Year; and 

  

	 	(ii)	any Accrued Overperformance that will be used to offset Underperformance in the Payment Year under this clause 3.3, 

 is not less than 75% of the Forecast Expenditure for the Payment Year, and 
  

	 	(d)	[ the Participant meets the 50% test ] the amount calculated in accordance with clause 3.2(b) in respect of the Payment Year is not less than 50% of the
Maximum Annual Payment for the Payment Year, 

 then the amount to be paid under clause 3.1(b) in respect of the Payment Year is
the lower of: 
  

	 	(e)	30% of the Underperformance in the Payment Year, and 

  

	 	(f)	30% of the Accrued Overperformance 

  

	3.4	Payment in respect of Overperformance in a Payment Year 

 Subject to
this Funding Agreement, and not withstanding the provisions of clauses 3.3 and clause 3.5, where: 
  

	 	(a)	an amount of Accrued Overperformance remains at the end of a Payment Year; or 

  

	 	(b)	there is Overperformance in a Payment Year, 

 the Commonwealth may, in its
absolute discretion, elect to pay an amount to the Participant in the Payment Year in respect of all or part of the Accrued Overperformance or the Overperformance. 
  

	3.5	Overperformance in a Payment Year may offset Underperformance in the immediately preceding Financial Year 

 Subject to this Funding Agreement, where: 
  

	 	(a)	there is Overperformance in the Payment Year; 

  

	 	(b)	an amount of Accrued Underperformance remains at the end of the Payment Year; 

  

	 	(c)	[ the Participant meets the 75% test ] the aggregate of: 

  

	 	(i)	the Actual Expenditure incurred in the Preceding Year; and 

  

	 	(ii)	any Overperformance in Previous Financial Years to the Preceding Year that has been used to offset Underperformance in the Preceding Year, 

 was not less than 75% of the Forecast Expenditure for the Preceding Year; and 
  

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	 	(d)	[ the Participant meets the 50% test ] the amount calculated in accordance with clause 3.2(b) in respect of the Preceding Year was not less than 50% of the
Maximum Annual Payment for the Preceding Year, 

 then the amount to be paid under clause 3.1(d) in respect of the Payment Year is
the lower of: 
  

	 	(e)	30% of the Accrued Underperformance; and 

  

	 	(f)	30% of the Overperformance for the Payment Year. 

  

	3.6	Conditions precedent to payment 

  

	 	(a)	Notwithstanding any other clause of this Funding Agreement, the Participant is not entitled to receive, and the Commonwealth is no obliged to pay to the Participant, an amount under this
clause 3 if: 

  

	 	(i)	the Commonwealth has insufficient Program Funding available at the time a payment is due to the Participant; 

  

	 	(ii)	the Participant has not submitted all Reports due for submission at the time a payment is otherwise due to the Participant; 

  

	 	(iii)	the Participant has not complied with any other of its obligations under this Funding Agreement; 

  

	 	(iv)	the Commonwealth has become entitled to terminate this Funding Agreement under clause 13.3. 

  

	 	(b)	The Commonwealth may withhold any payment: 

  

	 	(i)	where it has reasonable grounds to suspect that the Participant may not be entitled to payment, for such time as the Commonwealth reasonably requires to make such further inquiries as are
needed to determine the Participant’s entitlement to payment; 

  

	 	(ii)	where the Commonwealth has decided to undertake an Ad Hoc Review under clause 8.3(a), until such time as the Ad Hoc Review is completed; and 

  

	 	(iii)	where an event referred to in clause 6.1(b) occurs, until the Commonwealth and the Participant have agreed to vary this Funding Agreement or the Funding Agreement is terminated under
clause 6.1(d)(iii). 

  

	3.7	Maximum payment 

 Notwithstanding any other clause of this Funding
Agreement, if the Commonwealth is required or elects under this Funding Agreement to pay to the Participant an amount (“Amount”), the Amount which the Commonwealth is required or elects to pay will be reduced so that: 
  

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	 	(a)	[ Program cap ] the aggregate of the Amount and all previous payments to the Participant under the Program does not exceed $10 million;

  

	 	(b)	[ Maximum Payment ] the aggregate of the Amount and all previous payments to the Participant under this Funding Agreement does not exceed the Maximum Payment;

  

	 	(c)	[ first Quarterly cap ] where the Amount is payable under clause 3.1 in connection with clause 3.1(a) in respect of the first Quarter of a Payment
Year, the aggregate 

  

	 	(i)	the Amount; and 

  

	 	(ii)	the value of any Government Grant receivable in respect of the first Quarter of the Payment Year, does not exceed 25% of the Maximum Annual Payment for that Payment Year;

  

	 	(d)	[ second Quarterly cap ] where the Amount is payable under clause 3.1 in connection with clause 3.1(a) in respect of the second Quarter of a Payment
Year, the aggregate of: 

  

	 	(i)	the Amount; 

  

	 	(ii)	all payments previously made to the Participant under this Funding Agreement in respect of that Payment Year; and 

  

	 	(iii)	the value of any Government Grant receivable in respect of the first two Quarters of the Payment Year, 

 does not exceed 50% of the Maximum Annual Payment for that Payment Year; and 
  

	 	(e)	[ third Quarterly cap ] where the Amount is payable under clause 3.1 in connection with clause 3.1(a) in respect of the third Quarter of a Payment
Year, the aggregate of: 

  

	 	(i)	the Amount; 

  

	 	(ii)	all payments previously made to the Participant under this Funding Agreement in respect of that Payment Year, and 

  

	 	(iii)	the value of any Government Grant receivable in respect of the first three Quarters of the Payment Year, 

 does not exceed 75% of the Maximum Annual Payment for that Payment Year. 
  

	3.8	Process and time for payment 

  

	 	(a)	Payments under this clause 3 will be made directly to an account with a financial institution nominated by the Participant. 

  

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	 	(b)	Subject to this Funding Agreement, payments payable to the Participant under clause 3.1 in connection with clause 3.1(a) will be made quarterly in arrears.

  

	 	(c)	Subject to this Funding Agreement, payments payable to the Participant under clause 3.1 in connection with clause 3.1(b), clause 3.1(c) or clause 3.1 (d) will be
made at the same time as the amount payable under clause 3.8(b) in respect of the fourth Quarter of the Payment Year. 

  

	 	(d)	The Commonwealth may defer making a payment otherwise due in a Payment Year to the next Financial Year if, in the Commonwealth’s reasonable opinion, Program Funding may not be available
or sufficient to meet that commitment in the Payment Year. 

  

	 	(e)	Where the Commonwealth increases Base Expenditure under clause 5.2, the Commonwealth may suspend payments until the earlier of: 

  

	 	(i)	if the Commonwealth and the Participant agree to a variation of this Funding Agreement, the day the Funding Agreement is effectively varied; or 

  

	 	(ii)	the day the Commonwealth issues a notice to the Participant in accordance with clause 5.3(d). 

  

	 	(f)	Where an event referred to in clause 6.1 (b) occurs, the Commonwealth may suspend payments until the earlier of: 

  

	 	(i)	if the Commonwealth and the Participant agree to a variation of this Funding Agreement, the day the Funding Agreement is effectively varied; or 

  

	 	(ii)	the day this Funding Agreement is terminated. 

  

	 	(g)	Where clause 8.2 applies and the Commonwealth undertakes an Ad Hoc Review, Commonwealth may suspend payments until the earliest of: 

  

	 	(i)	the day the Commonwealth issues a notice to the Participant in accordance with clause 8.4; 

  

	 	(ii)	if, as a result of the Ad Hoc Review process, the Commonwealth and the Participant agree to vary this Funding Agreement, the day the Funding Agreement is effectively varied; or

  

	 	(iii)	the day this Funding Agreement is terminated. 

  

	3.9	Taxable grant 

 The Participant acknowledges that payments made under
this Funding Agreement are made as a taxable grant. 
  

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	3.10	Set-off 

 The Commonwealth may set-off any money due for payment by the
Commonwealth to the Participant under this Funding Agreement against any money due for payment by the Participant to the Commonwealth under this Funding Agreement. 
  

	3.11	Recovery by Commonwealth 

  

	 	(a)	If at any time, for any reason, the Commonwealth has paid the Participant more than the Participant is entitled to under clause 3.1 to clause 3.10 inclusive, the Commonwealth
may by notice in writing to the Participant require the participant to repay to the Commonwealth the amount of the excess. 

  

	 	(b)	In addition to the amount of the excess required to be repaid under clause 3.11(a), the Commonwealth may, in its discretion, require the Participant to pay Interest on the amount of
the excess. 

  

	 	(c)	If the Commonwealth gives a notice to the Participant under this clause 3.11, the Participant must repay the amount in full within 30 days of the date of the notice.

  

	 	(d)	If the Participant is required to pay an amount to the Commonwealth under this Funding Agreement, the Commonwealth may recover the amount as a debt due and payable to the Commonwealth.

  

	4	COMMONWEALTH’S DETERMINATION BINDING 

  

	4.1	Matters for binding determination 

 The Commonwealth’s
determination as to all or any of the following matters is final and binding on the Participant: 
  

	 	(a)	whether activity is Eligible Pharmaceutical R&D Activity; 

  

	 	(b)	whether expenditure is Eligible Expenditure; 

  

	 	(c)	whether expenditure has been incurred in respect of the Portfolio; and 

  

	 	(d)	whether a Performance Milestone has been met. 

  

	4.2	Procedure for binding determination 

  

	 	(a)	In making a determination under clause 4.1, the Commonwealth must take into account all relevant documentation and submissions made by the Participant in relation to the determination.

  

	 	(b)	After making a determination under clause 4.1, the Commonwealth must provide to the Participant written reasons for the determination. 

  

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	5	BASE EXPENDITURE 

  

	5.1	Audit Statement 

 Within 60 days after the end of the Third Base
Year, the Participant must provide to the Commonwealth an Audit Statement verifying: 
  

	 	(a)	the Actual Expenditure in respect of the Third Base Year; and 

  

	 	(b)	that the expenditure reported as Actual Expenditure in respect of the Third Base Year is Eligible Expenditure and has been spent on the Portfolio. 

  

	5.2	Adjustment of Base Expenditure 

 Where Audited Third Base Year
Expenditure is higher than Estimated Third Base Year Expenditure, the Commonwealth may by notice in writing to the Participant, increase Base Expenditure to an amount equal to the average of the following amounts: 
  

	 	(a)	the amount of Expenditure set out in item 2(a) of the Schedule in respect of the First Base Year; 

  

	 	(b)	the amount of Expenditure set out in Item 2(b) of the Schedule in respect of the Second Base Year; and 

  

	 	(c)	the Audited Third Base Year Expenditure. 

  

	5.3	Adjustment of maximum payments 

 If the Commonwealth increases Base
Expenditure under clause 5.2: 
  

	 	(a)	[ Participants may submit proposals ] the Commonwealth must allow the Participant 30 days from the date of the notice referred to in clause 5.2 to
submit one or more proposals to vary any or all of the Forecast Activity, Forecast Expenditure and the Portfolio, so that the Participant can retain the benefit of the original Maximum Annual Payments and original Maximum Payment;

  

	 	(b)	[ Commonwealth may accept or reject proposals ] subject to clause 16.1(c), the Commonwealth may, in its discretion, accept or reject a proposal referred to
in clause 5.3(a), with or without conditions; 

  

	 	(c)	[ variation of Funding Agreement ] if the Commonwealth accepts a proposal referred to in clause 5.3(a), this Funding Agreement will be varied when the
parties enter into a valid variation in accordance with clause 16.1(c)(ii); and 

  

	 	(d)	if the Participant does not submit any proposals under clause 5.3(a) or the Commonwealth rejects all proposals made by the Participant pursuant to clause 5.3(a), the
Commonwealth may by notice in writing to the Participant: 

  

	 	(i)	[ reduce Maximum Annual Payments ] reduce the Maximum Annual Payment for each of the Payment Years in the period from the Start Date to the Exit Date to an amount
calculated in accordance with the formula 

 (FE – BE) x 30% 
  

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 where: 
  

	 	(A)	FE means Forecast Expenditure for that Payment Year; and 

  

	 	(B)	BE means Base Expenditure calculated in accordance with clause 5.2; and 

  

	 	(ii)	[ reduce Maximum Payment ] reduce the Maximum Payment so that it is equal to the aggregate of the Maximum Annual Payments for each of the Payment Years in the
period from the Start Date to the Exit Date, as reduced under clause 5.3(d)(i). 

  

	6	MATTERS FOR REPORTING 

  

	6.1	Cessation of activity and change in corporate group 

  

	 	(a)	The Participant must notify the Commonwealth in its next Quarterly Report if an Eligible Pharmaceutical R&D Activity ceases to be performed. 

  

	 	(b)	The Participant must notify the Commonwealth immediately in writing: 

  

	 	(i)	if an activity in the Portfolio ceases to be performed by the Participant and Members or under contract with the Participant or a Member, and commences to be performed by a person who is not
the Participant or a Member and who is not performing the activity under a contract with the Participant or a Member; 

  

	 	(ii)	where there is a change in the identity of the person who Controls the Participant or a Member; 

  

	 	(iii)	where a Member ceases to be a member of the Group; and 

  

	 	(iv)	where a person who is not a Member: 

  

	 	(A)	is or becomes a member of the Group; and 

  

	 	(B)	commences either: 

  

	 	(v)	performing eligible pharmaceutical research and development (R&D) activity as defined in the Directions; or 

  

	 	(vi)	procuring someone else to perform eligible pharmaceutical research and development (R&D) activity as defined in the Directions for or on behalf of that person under a contract with that
person, or both. 

  

	 	(c)	The Participant must provide to the Commonwealth the information required by Attachment C of the Program Guidelines within 90 days of the event referred to in clause 6.1(b)
occurring. 

  

	 	(d)	Where an event referred to in clause 6.1(b) occurs: 

  

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	 	(i)	subject to clause 6.1(d)(iii), the Commonwealth and the Participant must negotiate in good faith in relation to varying this Funding Agreement to take into account the event;

  

	 	(ii)	if the Commonwealth and the Participant agree to a variation of this Funding Agreement, this Funding Agreement will be varied when the parties enter into a valid variation in accordance with
clause 16.1(c)(ii); and 

  

	 	(iii)	if the Commonwealth and the Participant do not reach agreement within 60 days of the date of the notification referred to in clause 6.1(b), the Commonwealth may by notice in
writing terminate this Funding Agreement with effect from the date on which the event referred to in clause 6.1(b) occurred. 

  

	6.2	Government Grants 

 If, a Government Grant, is or becomes receivable by
the Participant, it must immediately: 
  

	 	(a)	notify the Commonwealth; and 

  

	 	(b)	provide to the Commonwealth sufficient information to allow the Commonwealth to determine the effect of the Government Grant on payments under this Funding Agreement.

  

	7	REPORTS 

  

	7.1	Reporting and estimating expenditure 

 In reporting and estimating
expenditure, the Participant must, and must procure its auditor to, comply with the requirements of the Program Guidelines. 
  

	7.2	Quarterly Reports 

 Within 30 days of the end of each of the first
three Quarters of each Payment Year, the Participant must submit a report which: 
  

	 	(a)	sets out the Actual Expenditure incurred in that Quarter; 

  

	 	(b)	indicates where Actual Activity and Actual Expenditure are not proceeding in accordance with the Performance Milestones; 

  

	 	(c)	provides details of any breach or likely breach of this Funding Agreement; 

  

	 	(d)	complies with requirements of the Program Guidelines; and 

  

	 	(e)	contains the information and is in the form required by the Commonwealth from time to time, provided that the Commonwealth has notified the Participant in writing of any changes to the
required format before the end of the relevant Quarter. 

  

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	7.3	Annual Report 

 Within 60 days of the end of each Payment Year and
within 60 days of the termination of this Funding Agreement, the Participant must submit a report which: 
  

	 	(a)	sets out the Actual Expenditure incurred in the fourth Quarter; 

  

	 	(b)	indicates where Actual Activity and Actual Expenditure are not proceeding in accordance with the Performance Milestones; 

  

	 	(c)	sets out the Actual Expenditure incurred in the Payment Year, 

  

	 	(d)	sets out the Actual Activity performed in the Payment Year; 

  

	 	(e)	includes an Audit Statement which verifies the Actual Expenditure incurred in the Payment Year; 

  

	 	(f)	sets out and provides reasons for any Underperformance or Overperformance in respect of the Payment Year; 

  

	 	(g)	details and provides reasons for any potential future Underperformance or Overperformance; 

  

	 	(h)	provides detailed information in respect of the Participant’s progress against the Performance Milestones; 

  

	 	(i)	details any expected changes to Forecast Activity, Forecast Expenditure and the Participant’s progress against the Performance Milestones, and in particular, whether the Participant
knows that it or Members will not or may not meet the Performance Milestones, Forecast Activity or Forecast Expenditure; 

  

	 	(j)	provides details of any breach or likely breach of this Funding Agreement; 

  

	 	(k)	complies with requirements of the Program Guidelines; and 

  

	 	(l)	contains the information and is in the form required by the Commonwealth from time to time, provided that the Commonwealth has notified the Participant in writing of any changes to the
required format before the end of the relevant Payment Year. 

  

	7.4	Requesting further information 

  

	 	(a)	The Commonwealth may request from the Participant additional information which relates to this Funding Agreement or the Participant’s participation in the Program.

  

	 	(b)	If the Commonwealth requests information under clause (a), the Participant must provide the information to the Commonwealth within 30 days of the request or such other time as is
agreed between the parties. 

  

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	7.5	Extension of time for Reports 

  

	 	(a)	Before the due date for submission of a Report, the Participant may, in writing setting out the reason for the application, apply for an extension of time for submission of the Report.

  

	 	(b)	The Commonwealth may, in its absolute discretion, grant to the Participant an extension of time ending on a specific date for submission of a Report. 

  

	7.6	Failure to submit Reports 

 If the Participant fails to submit two or
more Reports consecutively by the due dates for submission (or, where the Commonwealth has granted the Participant an extension under clause 7.5(b), the due date for submission as extended under clause 7.5(b)), the Commonwealth may by
notice in writing terminate this Funding Agreement. 
  

	7.7	Evaluation 

  

	 	(a)	The Participant must, and must procure that Members, cooperate in the evaluation of the Program by the Commonwealth. 

  

	 	(b)	During the term of this Funding Agreement and for 5 years after the Exit Date, the Participant must, within 30 days of a request by the Commonwealth to do so, provide information and
completed survey forms relating to the Program and this Funding Agreement. 

  

	8	REVIEW 

  

	8.1	Annual Assessment and Mid Term Review 

  

	 	(a)	Without limiting its right to do so at any other time, the Commonwealth may undertake an assessment of the Participant’s performance of its obligations under this Funding Agreement:

  

	 	(i)	after it has received the Annual Report; and 

  

	 	(ii)	at the end of the 2005/2006 Financial Year. 

  

	 	(b)	Without limiting clause 8.2, the Commonwealth may use the assessment process referred to in clause 8.1(a) to determine whether the Commonwealth is entitled to undertake an Ad
Hoc Review under clause 8.2. 

  

	8.2	Ad Hoc Review trigger 

 Clauses 8.3 and 8.4 apply where,
in a Payment Year: 
  

	 	(a)	the aggregate of: 

  

	 	(i)	the Actual Expenditure incurred in that Payment Year; and 

  

	 	(ii)	any Overperformance in Previous Financial Years to that Payment Year that has been used to offset Underperformance in that Payment Year, 

  

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 was less than Base Expenditure; 
  

	 	(b)	the aggregate of: 

  

	 	(i)	the Actual Expenditure incurred in that Payment Year; and 

  

	 	(ii)	any Overperformance in Previous Financial Years to that Payment Year that has been used to offset Underperformance in that Payment Year, 

 was less than 75% of the Forecast Expenditure for that Payment Year; or 
  

	 	(c)	in the opinion of the Commonwealth, the Participant has not met one or more of the Performance Milestones to a sufficient degree. 

  

	8.3	Ad Hoc Review process 

  

	 	(a)	Subject to clause 8.2, the Commonwealth may undertake an assessment of the Participant’s performance of its obligations under this Funding Agreement and consider the
Participant’s continued participation in the Program. 

  

	 	(b)	The Commonwealth must notify the Participant in writing of a decision to undertake an Ad Hoc Review under clause 8.3(a). 

  

	8.4	Effect of Ad Hoc Review 

 Following the completion of an Ad Hoc Review:

  

	 	(a)	Subject to clause 8.2, the Commonwealth may, by notice in writing to the Participant, reduce Forecast Expenditure for each of the Payment Years in the period from the end of the
Payment Year referred to in clause 8.2 to the Exit Date so that it is equal to an amount calculated in accordance with the formula: 

 FE x (TAE/TFE) 
 where: 
  

	 	(i)	FE means Forecast Expenditure for the relevant Payment Year before the reduction in accordance with this clause 18.4; 

  

	 	(ii)	TAE means the aggregate of the Actual Expenditure incurred in each of the Payment Years in the period from the Start Date to the end of the Payment Year referred to in clause 8.2; and

  

	 	(iii)	TFE means the aggregate of Forecast Expenditure for each of the Payment Years in the period from the Start Date to the end of the Payment Year referred to in clause 8.2.

  

	 	(b)	Subject to clause 8.2, where the Commonwealth is of the opinion that an activity performed by or on behalf of the Participant or a Member is not Eligible Pharmaceutical R&D
Activity, the Commonwealth may by notice in writing to the Participant do one or more of the following: 

  

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	 	(i)	reduce Forecast Expenditure for each of the Payment Years in the period from the end of the Payment Year referred to in clause 8.2 to the Exit Date so that it does not include any
amounts for activities which are not Eligible Pharmaceutical R&D Activity; 

  

	 	(ii)	remove any activity which is not Eligible Pharmaceutical R&D Activity from the Portfolio; and 

  

	 	(iii)	require the Participant to repay any amount which has been paid by the Commonwealth to the Participant in connection with activity which is not Eligible Pharmaceutical R&D Activity and,
in its discretion, require the Participant to pay Interest on the amount, whereupon the Participant must repay the amount and Interest (if required) within 30 days of the date of the notice. 

  

	 	(c)	Where the Commonwealth reduces Forecast Expenditure under clause 18.4(a) or clause 8.4(b)(i), the Commonwealth may also, in the same or a separate written notice to the
Participant, reduce the Maximum Annual Payment for each of the Payment Years in the period from the end of the Payment Year referred to in clause 8.2 to the Exit Date to an amount calculated in accordance with the formula:

 (FE – BE) x 30% 
 where:

  

	 	(i)	FE means Forecast Expenditure for that Payment Year as reduced under clause 18.4(a) or clause 8.4(b)(i) as appropriate; and 

  

	 	(ii)	BE means Base Expenditure. 

  

	 	(d)	Where the Commonwealth reduces Forecast Expenditure under clause 18.4(a) or clause 8.4(b) (i), the Commonwealth may also, in the same or a separate written notice to the
Participant, reduce the Maximum Payment to an amount equal to the aggregate of the Maximum Annual Payments for each of the Payment Years in the period from the Start Date to the Exit Date, as reduced under clause 8.4(c).

  

	 	(e)	Subject to clauses 8.2 and 8.4(f), where, in the Commonwealth’s reasonable opinion: 

  

	 	(i)	the Actual Activity does not meet the Merit Criteria to the same extent as the Portfolio; and 

  

	 	(ii)	the quality of the Actual Activity is lower than that which was required for entry into the Program in the Round, 

 the Commonwealth may by notice in writing terminate this Funding Agreement. 
  

	 	(f)	Before the Commonwealth terminates this Funding Agreement in accordance with clause 8.4(e), the Commonwealth must: 

  

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	 	(i)	notify the Participant that the Commonwealth intends to terminate the Funding Agreement in accordance with clause 8.4(e); 

  

	 	(ii)	allow the Participant 14 days from the date on which the Commonwealth notifies the Participant in accordance with clause 8.4(f)(i) to provide written submissions in relation to
the matters referred to in clause 8.4(e); and 

  

	 	(iii)	take into account any submissions provided by the Participant pursuant to clause 8.4(f)(ii) in deciding whether or not to terminate this Funding Agreement in accordance with clause
8.4(e). 

  

	9	INTELLECTUAL PROPERTY 

  

	9.1	Vesting of Intellectual Property 

 Subject to clause 9.2, the
Commonwealth does not assert ownership of, or any right to, any Intellectual Property created under this Funding Agreement. 
  

	9.2	Licence 

 Subject to clause 10, the Participant grants to the
Commonwealth a permanent, irrevocable, royalty-free, world-wide, non-exclusive licence to use, reproduce, publish, electronically transmit, electronically distribute, adapt and modify any Contract Material, including any existing Material which is
used for the purposes of the Program, for the purposes of the Commonwealth’s dissemination, reporting and accountability requirements, but not to commercially exploit such Contract Material. 
  

	9.3	Documentation 

 If requested by the Commonwealth, the Participant agrees
to bring into existence, sign, execute or otherwise deal with any document which may be necessary or desirable to give effect to this clause 9. 
  

	9.4	Warranty 

 The Participant warrants that: 
  

	 	(a)	it is entitled, or will be entitled at the relevant time, to deal with the Intellectual Property in the Contract Material in the manner provided for in this clause 9; and

  

	 	(b)	it will use all reasonable endeavours to exploit the Intellectual Property created under this Agreement in order to meet the objectives of the Program as described in the Program Guidelines.

  

	10	CONFIDENTIALITY 

  

	10.1	Publicity 

  

	 	(a)	The Participant must acknowledge the financial assistance received from the Commonwealth under this Funding Agreement in any public statements about the Portfolio or its Eligible
Pharmaceutical R&D Activities as a whole. 

  

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	 	(b)	The Commonwealth may publicise the involvement of the Participant in the Program, by including in press releases, general announcements, publications, presentations and annual reports, and
may disclose in order to satisfy any other accountability requirement or reporting obligation, the following information: 

  

	 	(i)	the name of the Participant; 

  

	 	(ii)	a description of this Funding Agreement; 

  

	 	(iii)	a brief description of the Portfolio and any activity in the Portfolio, as agreed with the Participant in writing from time to time; 

  

	 	(iv)	the Maximum Payment and Maximum Annual Payments; 

  

	 	(v)	Actual Expenditure; and 

  

	 	(vi)	the amount of payments made by the Commonwealth under this Funding Agreement. 

  

	10.2	Confidential Information 

 The Commonwealth must not disclose any
Confidential Information except: 
  

	 	(a)	with the prior consent of the Participant; 

  

	 	(b)	where required or permitted under law; 

  

	 	(c)	to the Minister (as defined in the Directions) or the Auditor-General or his or her delegate; 

  

	 	(d)	to the extent that they require the information for the purposes of this Funding Agreement or the Program, to officers, consultants, employees and advisers of the Commonwealth, provided that
the Commonwealth ensures that the recipient of the information is aware of the confidentiality obligations under this clause 10.2 and takes steps to ensure the recipient of the information complies with those confidentiality obligations; or

  

	 	(e)	where permitted by clause 10.1. 

  

	11	RECORDS AND AUDIT 

  

	11.1	Records 

  

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	 	(a)	The Participant must, and must procure that Members, keep to the Commonwealth’s satisfaction: 

  

	 	(i)	all records (including original receipts and invoices) in accordance with accounting principles generally applied in commercial practice and as required by law which are necessary to provide
a complete, detailed record and explanation of Actual Expenditure and the Participant’s performance of its obligations under this Funding Agreement, and 

  

	 	(ii)	any other records relating to this Funding Agreement which are required by the Commonwealth. 

  

	 	(b)	The Participant must, and must procure Members to, retain the records referred to in clause 11.1(a), during the term of the Program and for at least 7 years from the date of their
creation. 

  

	11.2	Approvals and contract R&D 

 The Participant must, within
14 days of a request by the Commonwealth to do so, provide to the Commonwealth copies of: 
  

	 	(a)	any Approval; and 

  

	 	(b)	contracts under which Actual Activity has been performed by another person on behalf of the Participant of a Member. 

  

	11.3	Inspection and audit 

  

	 	(a)	The Participant must, and must procure Members to, allow the Commonwealth and its auditor, including the Australian National Audit Office, at reasonable times and on reasonable notice, to:

  

	 	(i)	enter the Participant’s or Member’s premises; 

  

	 	(ii)	audit the Participant’s compliance with this Funding Agreement; and 

  

	 	(iii)	inspect records held by the Participant or the Member which are relevant to this Funding Agreement. 

  

	 	(b)	The Participant must, and must procure Members to, provide the Commonwealth and its auditor with all necessary facilities and assistance to enable them to conduct the audit.

  

	 	(c)	The Participant must, and must procure Members to, allow the Commonwealth and its auditor to make copies of any records that the Commonwealth or its auditor considers relevant to the
Participant’s obligations under this Funding Agreement. 

  

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	 	(d)	The Commonwealth and its auditor may only use the copies referred to in clause 11.3(c) for the purposes of: 

  

	 	(i)	an audit; 

  

	 	(ii)	verifying the Participant’s performance of its obligations under this Funding Agreement; and 

  

	 	(iii)	the Commonwealth’s and the auditor’s accountability and reporting obligations. 

  

	12	WARRANTIES 

  

	12.1	Corporate capacity 

 The Participant warrants that as at the date of
this Funding Agreement and on each day during the term of this Funding Agreement: 
  

	 	(a)	[incorporation] the Participant is: 

  

	 	(i)	incorporated under the Corporations Act 2001 (Cth); and 

  

	 	(ii)	registered for GST purposes pursuant to the GST Act having the Australian Business Number as specified adjacent to the Participant’s name in the Particular Conditions;

  

	 	(b)	[ legal right and power ] it has the legal right and power to enter into this Funding Agreement and to perform its obligations under the terms of this Funding
Agreement; 

  

	 	(c)	[ corporate action ] the execution, delivery and performance of this Funding Agreement by it has been duly and validly authorised by all necessary corporate action
on its part; 

  

	 	(d)	[ binding agreement ] this Funding Agreement is a valid and binding agreement of it, enforceable in accordance with its terms; and 

  

	 	(e)	[ constitution ] the execution and performance of this Funding Agreement by it does not and the other transactions contemplated by this Funding Agreement do not,
violate or conflict with or result in a breach of or constitute a default under its constitution. 

  

	12.2	Application and Portfolio 

 The Participant warrants that as at the date
of this Funding Agreement: 
  

	 	(a)	 [ Application ] the Application has been made in accordance and compliance with the Program Guidelines and, in particular, has specified all
Eligible Pharmaceutical R&D Activity performed in the First Base Year and the Second Base Year by or on behalf of the Participant and people who were members of the Group at the closing date for submission of applications to participate in the
Round and all Eligible Pharmaceutical R&D Activity proposed to be performed 

  

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in the Third Base Year and during the term of this Funding Agreement by or on behalf of the Participant and people who were members of the Group at the closing date
for submission of applications to participate in the Round; and 

  

	 	(b)	[ Portfolio ] the Portfolio consists of all Eligible Pharmaceutical R&D Activity that has been, and is proposed to be, performed by or on behalf of the
Participant and Members. 

  

	12.3	Other warranties 

 The Participant warrants that as at the date of this
Funding Agreement and on each day during the term until this Funding Agreement terminates: 
  

	 	(a)	[ eligibility ] the Participant satisfies the Eligibility Criteria; 

  

	 	(b)	[ financial capacity ] the Participant and the Members have the financial capacity to perform or procure performance of the Forecast Activity and undertake the
Forecast Expenditure; 

  

	 	(c)	[ intellectual property ] the Participant, the Members and any person who is not a Member and who performs Eligible Pharmaceutical R&D Activity under a
contract with the Participant or a Member will, at the relevant time, have access to all intellectual property rights necessary for them to perform or procure performance of the Forecast Activity and undertake the Forecast Expenditure;

  

	 	(d)	[ accuracy of information ] all information provided by the Participant to the Commonwealth from time to time, including information: 

  

	 	(i)	given in the Application; 

  

	 	(ii)	incorporated into the Particular Conditions; 

  

	 	(iii)	given in any independent audit certificate provided to the Commonwealth by the Participant under the Program; or 

  

	 	(iv)	given in any Report to the Commonwealth by the Participant under this Funding Agreement, is true and correct; 

  

	 	(e)	[ conflict of interest ] the Participant, Members and any other person who performs Eligible Pharmaceutical R&D Activity under a contract with the Participant
or a Member do not have any interests or obligations that conflict or may conflict with its interests or obligations under this Funding Agreement; 

  

	 	(f)	[ adverse circumstances ] the Participant is not aware of any circumstances which adversely affect or might adversely affect the Participant’s ability to
fulfil its obligations under this Funding Agreement; 

  

	 	(g)	[ activity ] the Forecast Activity does not include any activity which is not Eligible Pharmaceutical R&D Activity; 

  

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	 	(h)	[ expenditure ] Actual Activity, Actual Expenditure, Base Expenditure, Forecast Activity and Forecast Expenditure have been reported in accordance with the
requirements of the Program Guidelines; 

  

	 	(i)	[ Group ]: 

  

	 	(i)	it is the only member of the Group which applied for funding in the Round; 

  

	 	(ii)	each Member is a member of the Group; and 

  

	 	(iii)	all members of the Group which perform Eligible Pharmaceutical R&D Activity or procure other people to perform Eligible Pharmaceutical R&D Activity for or on behalf of the member
under a contract with the member are included in the list of Members in Item 6 of the Schedule; 

  

	 	(j)	[ forecasts ] the Forecast Activity and Forecast Expenditure are realistic and achievable; 

  

	 	(k)	[ Ethical and regulatory approval ] in respect of any activity in the Portfolio involving research using genetic material from humans (including human embryos,
stem cells and all other human organs, tissues and cells), animals or plants, and/or experimentation in animals or humans: 

  

	 	(i)	the Participant, Members and any other person who performs Eligible Pharmaceutical R&D Activity under a contract with the Participant or a Member will, at the relevant time, have received
Ethical and Regulatory Approval for that activity; and 

  

	 	(ii)	the Participant, Members and any other person who performs Eligible Pharmaceutical R&D Activity under a contract with the Participant or a Member have, in performing or procuring
performance of that activity, complied with all relevant legal requirements of the Commonwealth and any State or Territory of Australia that are applicable during the performance of the activity; and 

  

	 	(l)	[ contract R&D] where Actual Activity, Actual Expenditure, Forecast Activity or Forecast Expenditure includes Eligible Pharmaceutical R&D Activity or Eligible
Expenditure financed by a person who is not the Participant or a Member, it has been included by the Participant with the consent of that person. 

  

	12.4	Notification of breach 

  

	 	(a)	If the Participant becomes aware of a breach or potential breach of warranty, the Participant must immediately notify the Commonwealth in writing of that breach or potential breach.

  

	 	(b)	The Participant acknowledges that, without limiting clause 13.3, breach of a warranty set out in this Funding Agreement justifies termination of this Funding Agreement by the
Commonwealth. 

  

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	13	TERM AND TERMINATION 

  

	13.1	Term 

  

	 	(a)	This Funding Agreement will start on the Start Date. 

  

	 	(b)	This Funding Agreement will terminate on the earliest occurring of the following events: 

  

	 	(i)	the Exit Date; 

  

	 	(ii)	the Commonwealth and the Participant enter into a new Funding Agreement following the selection of the Participant or a Member in a later funding round for the Program;

  

	 	(iii)	the Commonwealth and the Participant agree in writing to terminate this Funding Agreement; 

  

	 	(iv)	the aggregate of all payments made to the Participant under this Funding Agreement equals the Maximum Payment; and 

  

	 	(v)	the Commonwealth terminates this Funding Agreement under clause 13.2 or clause 13.3, 

 but without prejudice to the following obligations, which survive such termination: 
  

	 	(vi)	any obligation of the Commonwealth to pay an amount to the Participant under clause 3 in respect of any part of the Payment Year immediately preceding termination; and

  

	 	(vii)	the obligation of the Participant to submit Reports under clause 7 in respect of any part of the Payment Year immediately preceding termination. 

  

	13.2	Termination at any time 

  

	 	(a)	The Commonwealth may terminate this Funding Agreement at any time by giving not less than 30 days notice in writing to the Participant, specifying the effective date of termination.

  

	 	(b)	If this Funding Agreement is terminated under clause 13.2(a), the Commonwealth is liable only for: 

  

	 	(i)	all payments due and not yet made to the Participant at the effective date of termination; and 

  

	 	(ii)	any reasonable substantiated unavoidable loss (excluding loss of profits) incurred by the Participant as a direct consequence of termination of this Funding Agreement.

  

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	13.3	Termination for default 

 The Commonwealth may, without prejudice to any
right of action or remedy which has accrued or which may accrue in favour of the Commonwealth, terminate this Funding Agreement by notice in writing to the Participant in the event of any one or more of the following: 
  

	 	(a)	the Participant is in breach of this Funding Agreement and in the opinion of the Commonwealth the breach is not capable of being remedied; 

  

	 	(b)	the Participant is otherwise in breach of this Funding Agreement and the Participant fails to remedy the breach within 21 days of receipt of a written notice from the Commonwealth
requiring it to do so (or within any longer period specified in the notice); 

  

	 	(c)	the Participant is in breach of a warranty set out in this Funding Agreement; 

  

	 	(d)	the Commonwealth becomes entitled to terminate pursuant to clause 6.1(d); 

  

	 	(e)	the Commonwealth becomes entitled to terminate pursuant to clause 7.6; 

  

	 	(f)	the Commonwealth becomes entitled to terminate pursuant to clause 8.4(e); or 

  

	 	(g)	an Insolvency Event occurs in relation to the Participant. 

  

	13.4	Force majeure 

 The Commonwealth may not take action under clause
13.3 for a breach of this Funding Agreement due to a cause or causes beyond the Participant’s reasonable control which does not continue for more than 12 weeks in the aggregate. 
  

	13.5	Survival of obligations after termination 

 Clauses 3.10, 3.11, 4,
6.2, 7.1, 7.3, 7.3(1)4, 7.7, 9, 10, 11, and this clause 13.5 of this Funding Agreement will remain in full force and effect and survive the expiry or termination of the agreement evidenced by this Funding Agreement. 
  

	14	COMMUNICATIONS 

  

	14.1	General 

 A Communication must be in writing in English and may be given
by an agent of the sender. 
  

	14.2	How to give a Communication 

 In addition to any other lawful means, a
Communication may be given to a party by being: 
  

	 	(a)	personally delivered to the party; 

  

	 	(b)	left at the party’s registered office or current business address; 

  

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	 	(c)	subject to clauses 14.5 and 14.7, sent by pre-paid ordinary mail to the party’s current address nominated for receipt of Communications by mail or, if the address is
outside Australia, by pre-paid airmail; 

  

	 	(d)	subject to clauses 14.6 and 14.7, sent by facsimile to the party’s current facsimile number nominated for receipt of Communications by facsimile; or

  

	 	(e)	subject to clause 14.3, by email sent to the party’s current email address nominated for receipt of Communications by email. 

  

	14.3	Email communication 

 The following Communications must not be given by
email: 
  

	 	(a)	Audit Statements; 

  

	 	(b)	Reports; 

  

	 	(c)	variations to this Funding Agreement; and 

  

	 	(d)	notices and information under clauses 3.10, 3.11, 5.2, 5.3, 6.1, 6.2, 7.5, 8.3(b), 8.4, 12.4(a), 13.1(b)(iii), 13.2, 13.3, 15, 16.1 and 16.2. 

  

	14.4	Current address for delivery of Communications 

  

	 	(a)	The particulars for delivery of Communications are initially as set out in Item 8 of the Schedule. 

  

	 	(b)	Each party may change its particulars for delivery of Communications by notice in writing to the other party. 

  

	14.5	Communications by post 

 Subject to clause 14.7, a Communication
is given if posted: 
  

	 	(a)	within Australia to an Australian address, 3 days after posting; or 

  

	 	(b)	in any other case, 14 days after posting. 

  

	14.6	Communications by facsimile 

 Subject to clause 14.7, a
communication is given if sent by facsimile, when the sender’s facsimile machine produces a report that the facsimile was sent in full to the addressee, the report being conclusive evidence that the addressee received the facsimile in full at
the time indicated on that report. 
  

	14.7	After hours communications 

 If a Communication is given: 
  

	 	(a)	after 5.00 pm in the place of receipt; or 

  

	 	(b)	on a day which is a Saturday, Sunday or public holiday in the place of receipt, 

  

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 it is taken as having been given at 9.00 am on the next day which is not a Saturday, Sunday or public holiday
in that place. 
  

	14.8	Process service 

 Any process or other document relating to litigation,
administrative or arbitral proceedings relating to this Funding Agreement may be served by any method contemplated by this clause 14 or in accordance with any applicable law. 
  

	15	GST 

  

	15.1	Construction 

 In this clause 15 words and expressions which are
not defined in this Funding Agreement but which have a defined meaning in GST Law have the same meaning as in the GST Law. 
  

	15.2	Consideration GST exclusive 

 Unless otherwise expressly stated, all
prices or other sums payable or consideration to be provided under this Funding Agreement are exclusive of GST. 
  

	15.3	Payment of GST 

 If GST is payable by a supplier, or by the
representative member for a GST group of which the supplier is a member, on any supply made under this Funding Agreement, the recipient will pay to the supplier an amount equal to the GST payable on the supply. 
  

	15.4	Timing of GST payment 

 The recipient will pay the amount referred to in
clause 15.3 in addition to and at the same time that the consideration for the supply is to be provided under this Funding Agreement. 
  

	15.5	Tax invoice 

 Except where clause 15.8 applies: 
  

	 	(a)	the supplier must deliver a tax invoice or an adjustment note to the recipient before the supplier is entitled to payment of an amount under clause 15.3; and 

 

	 	(b)	the recipient can withhold payment of the amount payable under clause 15.3 until the supplier provides a tax invoice or an adjustment note as appropriate. 

  

	15.6	Adjustment event 

 If an adjustment event arises in respect of a taxable
supply made by a supplier under this Funding Agreement the amount payable by the recipient under clause 15.3 will be recalculated to reflect the adjustment event and a payment will be made by the recipient to the supplier or by the supplier
to the recipient as the case requires. 
  

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	15.7	Reimbursements 

 Where a party is required under this Funding Agreement
to pay or reimburse an expense or outgoing of another party, the amount to be paid or reimbursed by the first party will be the sum of: 
  

	 	(a)	the amount of the expense or outgoing less any input tax credits in respect of the expense or outgoing to which the other party, or to which the representative member for a GST group of which
the other party is a member, is entitled; and 

  

	 	(b)	if the payment or reimbursement is subject to GST, an amount equal to that GST. 

  

	15.8	Recipient created tax invoice 

 Where the Participant makes a taxable
supply to the Commonwealth under this Funding Agreement, the parties agree: 
  

	 	(a)	the Commonwealth will issue a recipient created tax invoice for the supply at the same time that the Commonwealth provides the consideration for the supply; 

  

	 	(b)	the Participant will not issue a tax invoice in respect of the supply; 

  

	 	(c)	the Commonwealth will issue an adjustment note for any adjustment event that arises in relation to the supply; and 

  

	 	(d)	the Participant will not issue an adjustment note for any adjustment event that arises in relation to the supply. 

  

	15.9	Acknowledgment by Commonwealth 

 The Commonwealth acknowledges that it
is registered for GST at the date of entry into this Funding Agreement and that it will notify the Participant if it ceases to be so registered. 
  

	15.10	Acknowledgment by Participant 

 The Participant acknowledges that it is
registered for GST at the date of entry into this Funding Agreement and that it will notify the Commonwealth if it ceases to be so registered. 
  

	16	SUBSTITUTION, VARIATION, ASSIGNMENT AND WAIVER 

  

	16.1	Substitution and variation 

  

	 	(a)	At any time during the term of this Funding Agreement, the Participant may submit in writing to the Commonwealth a proposal to: 

  

	 	(i)	substitute a different Eligible Pharmaceutical R&D Activity for an activity in the Portfolio; or 

  

	 	(ii)	add an Eligible Pharmaceutical R&D Activity to the Portfolio. 

  

	 	(b)	Subject to clause 16.1(c), the Commonwealth may, in its discretion, accept or reject a proposal referred to in clause 16.1(a), with or without conditions.

  

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	 	(c)	This Funding Agreement may only be varied or replaced: 

  

	 	(i)	in accordance with clause 5.2, clause 5.3 or clause 8.4; or 

  

	 	(ii)	by written agreement of both parties. 

  

	16.2	Assignment and dealing 

  

	 	(a)	The Participant must not assign, novate or deal with any right under this Funding Agreement without the prior written consent of the Commonwealth. 

  

	 	(b)	Any assignment, novation or dealing or purported assignment, novation or dealing in breach of this clause 16.2 will have no effect in so far as it might otherwise affect the
Commonwealth. 

  

	16.3	Waiver and exercise of rights 

  

	 	(a)	A single or partial exercise or waiver by a party of a right relating to this Funding Agreement does not prevent any other exercise of that right or the exercise of any other right.

  

	 	(b)	A party is not liable for any loss, cost or expense of any other party caused or contributed to by the waiver, exercise, attempted exercise, failure to exercise or delay in the exercise of a
right. 

  

	17	GENERAL 

  

	17.1	Further steps 

 Each party must promptly do whatever any other party
reasonably requires of it to give effect to this Funding Agreement and to perform its obligations under it. 
  

	17.2	Governing law and jurisdiction 

  

	 	(a)	This Funding Agreement is governed by and is to be construed in accordance with the laws applicable in the Australian Capital Territory. 

  

	 	(b)	Each party irrevocably and unconditionally submits to the non-exclusive jurisdiction of the courts of the Australian Capital Territory and any courts which have jurisdiction to hear appeals
from any of those courts and waives any right to object to any proceedings being brought in those courts. 

  

	17.3	Liability 

 An obligation of two or more persons binds them separately
and together. 
  

	17.4	Good faith and reasonableness 

 During the term of this Funding
Agreement, the parties must act towards each other reasonably and in good faith when exercising rights and discretions, considering consents or approvals, and performing obligations under this Funding Agreement. 
  

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	17.5	Relationship of parties 

  

	 	(a)	This Funding Agreement does not create a partnership, joint venture, employment or agency relationship between the parties. 

  

	 	(b)	The Participant must not represent that it is, or act as if it was, a partner, joint venturer, employee or agent of the Commonwealth. 

  

 Pharmaceuticals Partnerships Program General Conditions 
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 PHARMACEUTICALS PARTNERSHIPS PROGRAM 
 P 3 
 FUNDING AGREEMENT 
  
  
 PARTICULAR CONDITIONS 

 
  
 Pharmaceuticals Partnerships Program Particular Conditions 
 Version 2.0 — Release Date
June 2005 
  

 PARTIES 
  

	 	1	Commonwealth of Australia represented by the Department of Industry, Tourism and Resources 

 ABN 51 835 430479 001 
 GPO Box 9839 
 Canberra ACT 2601 
 20 Allara Street 
 Canberra ACT 2601 
  

	 	2	The Participant 

 Peplin Operations Pty Ltd 
 ABN 69093317367 
 Level 2 
 1 Breakfast Creck Road 
 NEWSTEAD QLD 4006 
 OPERATIVE PROVISIONS 
  

	1	This Funding Agreement is made, and the Funding is made available to the Participant, under the Pharmaceuticals Partnerships Program. 

  

	2	The Funding is made available to the Participant on the terms and conditions of the Funding Agreement which comprises the General Conditions and the Particular Conditions including the
schedules). 

  

	3	The Participant acknowledges that it has received and read a copy of the General Conditions, and agrees that the terms and conditions of the General Conditions form part of the Funding
Agreement. 

  

	4	Terms defined in the General Conditions have the same meaning in the Particular Conditions. 

  

	5	The Participant acknowledges that it has received and read a copy of the Program Guidelines and the Directions. 

  

	6	If there is an inconsistency between the Particular Conditions and the General Conditions, the Particular Conditions prevail to the extent of the inconsistency. 

  

 Pharmaceuticals Partnerships Program Particular Conditions 
 Version 2.0 — Release Date June 2005 
  

											
	EXECUTED as a deed.	 		    		 		 	
					
	Date of Deed: 22 September 2005	 		    		 		 	
					
	Commonwealth of Australia	 		    		 		 	
					
	SIGNED SEALED AND DELIVERED	 		    	)	 		 	
	for and on behalf of the	 		    	)	 		 	
	COMMONWEALTH OF AUSTRALIA	 		    	)	 		 	
						
	by	 	 /s/ Judith Zieke
	 		    	)	 		 	
	a delegate of the Minister for Industry	 		    	)	 	 /s/ Judith Zieke
	 	
	Tourism and Resources	 		    	)	 	Signature of delegate	 	
	in the presence of:	 		    		 		 	
					
	 /s/ Lyn Dodd
	 		    		 		 	
	Signature of witness	 		    		 		 	
					
	 Lyn Dodd
	 		    		 		 	
	Name of witness (print)	 		    		 		 	

 I hereby accept the terms and conditions pursuant to which the Funding is made available. 
 Participant 
 THE COMMON SEAL of 
     Peplin Operations Pty Ltd 
 

 
  

					
	  
	 		 	
	is affixed in the presence of:	 		 	
			
	 /s/ Philia Baker
	 		 	 /s/ Michael Aldridge

	Company Secretary/Director	 		 	Director
			
	 Philia Baker
	 		 	 Michael Aldridge

	Name of Company Secretary/Director (print)	 		 	Name of Director (print)

  

 Pharmaceuticals Partnerships Program Particular Conditions 
 Version 2.0 — Release Date June 2005

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