Document:

Exhibit 10.13

 

Execution Version

 

AMENDED AND RESTATED

EXECUTIVE RETENTION AGREEMENT

 

This AMENDED AND RESTATED
EXECUTIVE RETENTION AGREEMENT ("Agreement"), dated effective as of ______________ ___, 20__ (the "Effective
Date"), is entered into between Dyax Corp., a Delaware corporation with offices at 55 Network Drive, Burlington, Massachusetts
01803 ("Dyax" or the "Company") and ___________________ (the "Executive") amends
and restates that certain Executive Retention Agreement (the “Existing Retention Agreement”) between the Company
and Executive dated ____________________ (the “Original Effective Date”).

 

WHEREAS, the Executive
is an executive officer and key member of the Dyax management team.

 

WHEREAS, Dyax believes
that it is in the best interests of the Company and of its stockholders to provide for the continuity and retention of its executive
officers, including the Executive.

 

WHEREAS, the Existing Retention
Agreement is being amended so that it includes each type of Award that may be subject to the terms hereof.

 

NOW, THEREFORE, as an inducement
for and in consideration of the Executive remaining in the employ of the Company and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the Company and the Executive agree that the Executive shall receive
the severance payments set forth in this Agreement in the event the Executive's employment with the Company is terminated under
the circumstances described below.

 

1.             Definitions.

 

Capitalized terms that
are not defined herein shall have the meanings set forth in Exhibit A attached hereto.

 

2.             EMPLOYMENT
STATUS.

 

The Executive acknowledges
that this Agreement does not constitute a contract of employment or impose on the Company any obligation to retain the Executive
as an employee and that this Agreement does not prevent the Company or the Executive from terminating his or her employment at
any time, for any reason, before or after a Change in Control.

 

3.             Term
of AgrEEMENT. 

 

3.1           Term.
This Agreement, and all rights and obligations of the parties hereunder, shall take effect upon the Effective Date and shall continue
through the third anniversary of the Original Effective Date (the "Term"); provided, however, that that
the Term shall be extended as follows:

 

		(a)	Annual Extension. Commencing on third anniversary of the Original Effective Date and each
anniversary of the Original Effective Date thereafter (each hereinafter referred to as a "Renewal Date"), the
Term shall be automatically extended for one additional year so as to terminate one year after such Renewal Date, unless at least
one year prior to such Renewal Date, the Company shall have given the Executive written notice that the Term will not be extended.

 

    	 

    	 

    

 

		(b)	Extension Following Change in Control or Termination of Employment. If a Change in Control
shall have occurred during the Term, then the Term shall automatically be extended for an additional year until one year after
the closing of the transaction giving rise to the Change in Control. If either a termination of employment covered by Section 5.1
or a Change in Control covered by Section 5.2 shall have occurred during the Term, then the Term shall be extended through the
Severance Period (or to such later date by which the Company has fulfilled all of its obligations under Section 5).

 

4.             Notice
of Termination of Employment. 

 

4.1          Notice
of Termination. Any termination of the Executive's employment by the Company, or by the Executive prior to the first anniversary
of a Change in Control (other than due to the death or Disability of the Executive) shall be communicated by a written notice to
the other party hereto (the "Notice of Termination"), given in accordance with Section 8.2. Any Notice of Termination
shall: (i) indicate (in the case of a termination by the Company) whether such termination is for Cause and (in the case of a termination
by the Executive within one (1) year following a Change in Control) whether such termination is for Good Reason, (ii) to the extent
applicable, set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of the Executive's
employment for Cause or for Good Reason, and (iii) specify the Termination Date.

 

4.2           Timing of Notice.

 

		(a)	Any Notice of Termination for Cause given by the Company must be given within ninety (90) days
of the initial existence of the occurrence or condition that constitutes Cause.

 

		(b)	Any Notice of Termination for Good Reason given by the Executive must be given within thirty (30)
days of the initial existence of the occurrence or condition that constitutes Good Reason. If the condition is capable of being
corrected, the Company shall have thirty (30) days during which it may remedy the condition (the "Cure Period").
Notwithstanding the occurrence of any such event or circumstance, such occurrence shall not be deemed to constitute Good Reason
if such event or circumstance has been fully corrected within the Cure Period. If the condition is not corrected, the Executive
must leave employment within ninety (90) days after the Company fails to cure the condition giving rise to the Executive's claim
for Good Reason during the Cure Period.

 

5.             Benefits
to Executive. 

 

5.1           Termination
Prior to Change in Control. If, prior to a Change in Control (including a situation in which a Change in Control never occurs),
the Company terminates the Executive's employment other than for Cause, Disability or death, then notwithstanding anything to the
contrary contained in any prior agreement, the Executive shall be entitled to benefits described in subsections (a) through (d)
below, the distribution of which shall be subject to the provisions of Sections 5.4, 5.5 and 5.8.

 

		(a)	The Company shall pay to the Executive on the Termination Date, in a lump sum, in cash (less applicable
withholdings), (i) all base salary and accrued vacation pay earned by the Executive through the Termination Date (the "Accrued
Obligations"); and (ii) the Executive's actual incentive bonus earned, based on the achievement of corporate and individual
goals through the date of Executive's termination; provided however, that if any portion of the Executive's actual incentive bonus
earned is not determinable as of the date of termination, Executive shall receive for that portion an amount equal to the pro rated
portion of Executive's annual target bonus, based upon the number of days during such calendar year that the Executive had been
employed prior to the Termination Date.

 

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		(b)	During the Severance Period, the Company shall continue to pay to the Executive, in accordance
with the Company's regular payroll practices, the Executive's base salary.

 

		(c)	During the Severance Period, the Company shall continue to provide coverage to the Executive in
accordance with and subject to the terms of the applicable welfare benefit plans of the Company in effect on the Termination Date;
provided, however, that if the Executive becomes reemployed with another employer and is eligible to receive a particular type
of benefits (e.g., health insurance benefits) from such employer, then the Company shall no longer be required to provide those
particular benefits to the Executive.

 

		(d)	With respect to any Awards granted to the Executive by the Company prior to the Termination Date:

 

		(i)	any such Awards that are subject to time-based vesting and are unvested as of the Termination Date
shall continue to vest through the Severance Period;

 

		(ii)	all Awards that have an exercise period, including without limitation stock options, shall remain
exercisable by the Executive for ninety (90) days following the conclusion of the Severance Period but in no event beyond the maximum
term of any such Award; and

 

		(iii)	any performance-based Awards shall have such terms as are set forth in the grant agreement applicable
thereto.

 

The Executive acknowledges and agrees
that the provisions of this Section 5.1(d) may cause all stock options which had previously been qualified as Incentive Stock Options
under Section 422 of the Internal Revenue Code of 1986, as amended (the "Code", which term shall include applicable
Treasury Regulations) to become non-qualified options and lose, irrevocably, any tax-advantaged treatment previously available,
except to the extent that the effectiveness of such provisions would permit such options to qualify as a grant of new Incentive
Stock Options under Section 422 (in which case the exception shall be applied by the Company to the Options with the lowest exercise
prices as Incentive Stock Options up to the $100,000 limit in Section 422).

 

5.2           Termination
Following Change in Control. If the Company terminates the Executive's employment other than for Cause, Disability or death
within twelve (12) months following a Change in Control, or if the Executive terminates his or her employment for Good Reason within
twelve (12) months following a Change in Control, then notwithstanding anything to the contrary contained in any prior agreement,
the Executive shall be entitled to benefits described in subsections (a) through (d) below, the distribution of which shall be
subject to the provisions of Sections 5.4, 5.5 and 5.8:

 

		(a)	The Company shall pay to the Executive on the Termination Date, in a lump sum, in cash (less applicable
withholdings):

 

		(i)	the Accrued Obligations;

 

		(ii)	the Executive's annual target bonus for the calendar year in which the termination occurred, pro-rated
based upon the number of days during such calendar year that the Executive had been employed prior to the Termination Date; and

 

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		(iii)	an amount equal to one hundred percent (100%) of the Executive's annual base salary and target
bonus.

 

		(b)	During the Severance Period, the Company shall continue to provide coverage to the Executive in
accordance with and subject to the terms of the applicable welfare benefit plans of the Company in effect on the Termination Date;
provided, however, that if the Executive becomes reemployed with another employer and is eligible to receive a particular type
of benefits (e.g., health insurance benefits) from such employer, then the Company shall no longer be required to provide those
particular benefits to the Executive; and

 

		(c)	With respect to any Awards granted to the Executive by the Company prior to the Termination Date:

 

		(i)	any Awards that are subject to time-based vesting and unvested as of the Termination Date shall
become immediately exercisable effective as of the Termination Date; and

 

		(ii)	all Awards that have an exercise period, including without limitation stock options, shall remain
exercisable by the Executive for ninety (90) days following the conclusion of the Severance Period but in no event beyond the maximum
term of any such Award; and

 

		(iii)	any performance-based Awards shall have such terms as are set forth in the grant agreement applicable
thereto.

 

The Executive acknowledges and agrees
that the provisions of this Section 5.1(d) may cause any stock options which had previously been qualified as Incentive Stock Options
under Section 422 of the Code to become non-qualified options and lose, irrevocably, any tax-advantaged treatment previously available.

 

5.3          Termination
for Cause, Disability or Death. If the Company terminates the Executive's employment for Cause, Disability or death, whether
prior to or following a Change in Control, then the Company shall pay the Executive (or his or her estate, if applicable), in a
lump sum in cash on the Termination Date, the Accrued Obligations and (ii) to the extent not previously paid or provided, timely
pay or provide to the Executive any other amounts or benefits required to be paid or provided or which the Executive is eligible
to receive following the Executive's termination of employment under any plan, program, policy, practice, contract or agreement
of the Company and its subsidiaries (such other amounts and benefits shall be hereinafter referred to as the "Other Benefits"),
the distribution of which shall be subject to the provisions of Section 5.8.

 

5.4             Section
280G Provisions.

 

		(a)	If the Company undergoes a Change in Ownership or Control (as defined below) and any portion of
the Contingent Compensation Payments (as defined below) payable to the Executive hereunder would constitute Excess Parachute Payments
(as defined below), then, subject to Section 5.4(b) below, the Company shall reduce the Contingent Compensation Payments
(as defined below) to the extent necessary to eliminate such Excess Parachute Payments. For purposes of this Section 5.4, the Contingent
Compensation Payments so eliminated shall be referred to as the "Eliminated Payments" and the aggregate amount
(determined in accordance with Treasury Regulation Section 1.280G-1, Q/A-30 or any successor provision) of the Contingent Compensation
Payments so eliminated shall be referred to as the "Eliminated Amount."

 

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		(b)	Notwithstanding anything to the contrary contained in Section 5.4(a), no such reduction in Contingent
Compensation Payments shall be made if (i) the Eliminated Amount exceeds (ii) the amount of the excise tax imposed on the Executive
by Section 4999 of the Code with respect to the Excess Parachute Payments. The override of such reduction in Contingent Compensation
Payments pursuant to this Section 5.4(b) shall be referred to as a "Section 5.4(b) Override."

 

		(c)	For purposes of this Section 5.4 the following terms shall have the following respective meanings:

 

		(i)	"Change in Ownership or Control" shall mean a change in the ownership or effective
control of the Company, or in the ownership of a substantial portion of the assets of the Company, determined in accordance with
Section 280G(b)(2) of the Code.

 

		(ii)	"Contingent Compensation Payment" shall mean any payment (or benefit) in the nature
of compensation that is made or made available (under this Agreement or otherwise) to a "disqualified individual" (as
defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on
a Change in Ownership or Control of the Company.

 

		(iii)	"Excess Parachute Payment" shall mean a payment described in Section 280G(b)(1)
of the Code (calculated based on the applicable federal rate in effect on the Original Effective Date with respect to stock options).

 

		(d)	Any payments or other benefits otherwise due to the Executive following a Change in Ownership or
Control that could reasonably be characterized (as determined by the Company) as Contingent Compensation Payments (the "Potential
Payments") shall not be made until the dates provided for in this Section 5.4(d).

 

		(i)	In the event that the Company undergoes a Change in Ownership or Control, and the Executive becomes
entitled to receive Contingent Compensation Payments relating to such Change in Ownership or Control, the Company shall (A) determine
at such time or times as may be necessary to comply with the requirements under Section 280G of the Code whether such Contingent
Compensation Payments constitute in whole or in part Excess Parachute Payments and (B) in the event the Company determines that
such Contingent Compensation Payments constitute in whole or in part Excess Parachute Payments, notify the Executive (within 30
days after each such determination and with reasonable detail regarding the basis for its determinations) of the following: (1)
which Potential Payments constitute Contingent Compensation Payments, (2) the Eliminated Amount, and (3) whether the Section 5.4(b)
Override is applicable.

 

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		(ii)	Within thirty (30) days after delivery of such notice to the Executive, the Executive shall deliver
a response to the Company (the "Executive Response") stating either (A) that the Executive agrees with the Company's
determination pursuant to the preceding sentence, or (B) that the Executive disagrees with such determination, in which case the
Executive shall set forth (1) which Potential Payments should be characterized as Contingent Compensation Payments, (2) the Eliminated
Amount, or (3) whether the Section 5.4(b) Override is applicable.

 

		(iii)	If and to the extent that any Contingent Compensation Payments are required to be treated as Eliminated
Payments pursuant to this Section 5.4 and the Section 5.4(b) Override is not applicable, then the Payments shall be reduced or
eliminated, as determined by the Company, in the following order: (A) any cash payments, (B) any vesting of equity awards, (C)
any taxable benefits, and (D) any nontaxable benefits, in each case beginning with payments or benefits that are to be paid the
farthest in time from the date that triggers the applicability of the excise tax, to the extent necessary to maximize the Eliminated
Payments.

 

		(iv)	If the Executive fails to deliver an Executive Response on or before the required date, the Company's
initial determinations shall be final, and the Company shall make the Potential Payments (other than the Eliminated Payments) to
the Executive within ten (10) business days following the due date for delivery to the Company of the Executive Response (except
for any Potential Payments which are not due to be made until after such date, which Potential Payments shall be made on the date
on which they are due).

 

		(v)	If the Executive states in the Executive Response that he or she agrees with the Company's determinations,
the Company's initial determinations shall be final, the Contingent Compensation Payments that shall be treated as Eliminated Payments
shall be as set forth in the Executive Response, and the Company shall make the Potential Payments (other than the Eliminated Payments)
to the Executive within ten (10) business days following delivery to the Company of the Executive Response (except for any Potential
Payments which are not due to be made until after such date, which Potential Payments shall be made on the date on which they are
due).

 

		(vi)	If the Executive states in the Executive Response that he or she disagrees with the Company's determinations,
then, for a period of thirty (30) days following delivery of the Executive Response, the Executive and the Company shall use good
faith efforts to resolve such dispute. If such dispute is not resolved within such thirty (30) day period, such dispute shall be
settled exclusively by arbitration in Boston, Massachusetts, in accordance with the rules of the American Arbitration Association
then in effect. Judgment may be entered on the arbitrator's award in any court having jurisdiction. The Company shall, within ten
(10) business days following delivery to the Company of the Executive Response, make to the Executive those Potential Payments
as to which there is no dispute between the Company and the Executive regarding whether they should be made (except for any such
Potential Payments which are not due to be made until after such date, which Potential Payments shall be made on the date on which
they are due). The balance of the Potential Payments (other than Eliminated Payments) shall be made within ten (10) business days
following the resolution of such dispute.

 

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		(vii)	Subject to the limitations contained in Sections 5.4(a) and (b) hereof, the amount of any payments
to be made to the Executive following the resolution of such dispute shall be increased by amount of the accrued interest thereon
computed at the prime rate announced from time to time by Bank of America, compounded monthly from the date that such payments
originally were due.

 

		(viii)	In the event the Company is required to perform a redetermination in accordance with Treas. Reg.
1.280G-1 Q/A-33(b) with respect to any Contingent Compensation Payments, this Section 5.4(d) shall apply with respect to such redetermination
and the parties shall make such adjustments as may be necessary as a result of such redetermination including, if appropriate,
the payment by the Company of Contingent Compensation Payments previously treated as Eliminated Payments if the Section 5.4(b)
Override applies as a result of such redetermination.

 

		(e)	The provisions of this Section 5.4 are intended to apply to any and all payments or benefits available
to the Executive under this Agreement or any other agreement or plan of the Company under which the Executive receives Contingent
Compensation Payments.

 

5.5           Release.
The obligation of the Company to make the payments and provide the benefits to the Executive under Section 5.1, 5.2 or 5.3 is conditioned
upon the Executive signing a release of claims in the form attached hereto as Exhibit B, or such other form as may be agreed
to by the Company and the Executive (the "Employee Release"), within twenty-one (21) days (the "Release
Period") following the Termination Date and upon the Executive not revoking the Employee Release in a timely manner thereafter.
Provided that the Employee Release has become binding, the payments to the Executive under Section 5.1 or 5.2 shall be payable
or shall commence on the 30th day following the Termination Date. Notwithstanding the foregoing, the provisions of benefits under
Section 5.1(c) and 5.2(c) shall continue during the Release Period and any applicable revocation period.

 

5.6           Exclusive
Severance Benefits. The making of the payments and the provision of the benefits by the Company to the Executive under Section
5.1, 5.2 or 5.3 shall constitute the entire obligation of the Company to the Executive as a result of the termination of his or
her employment under the circumstances set forth in such Sections, and the Executive shall not be entitled to additional payments
or benefits under any other plan, program, policy, practice, contract or agreement of the Company or its subsidiaries.

 

5.7           Mitigation.
The Executive shall not be required to mitigate the amount of any payment or benefits provided for in Section 5.1, 5.2 or 5.3 by
seeking other employment or otherwise. Further, except as provided in Section 5.1(c) and 5.2(c), the amount of any payment or benefits
provided for in Section 5.1, 5.2 or 5.3 shall not be reduced by any compensation earned or benefits received by the Executive as
a result of employment by another employer.

 

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5.8           Section
409A. A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing
for the payment of any amounts or benefits that is considered deferred compensation upon or following a termination of employment
unless such termination of employment is also a "separation from service" within the meaning of Code Section 409A. If
the Executive is a "specified employee" on the date of termination within the meaning of that term under Code Section
409A(a)(2)(B), then with regard to any payment or the provision of any benefit that is considered deferred compensation under Code
Section 409A payable on account of a "separation from service," such payment or benefit shall be made or provided at
the date which is the earlier of (i) the expiration of the six (6) month period measured from the date of the Executive's "separation
from service", and (ii) the date of the Executive's death (the "Delay Period"). Upon the expiration of the
Delay Period, all payments and benefits delayed pursuant to this provision shall be paid or reimbursed to the Executive in a lump
sum in cash.

 

5.9          Potential
Recovery of Incentive Compensation. Notwithstanding any other provision of this Agreement or the Certificate of Incorporation
or by-laws of the Company (including for this purpose any provision for indemnification), any compensation paid to the Executive
pursuant to this Agreement or in accordance with its terms shall be subject to any policy or arrangement regarding recovery of
incentive-based compensation (which may include stock options awarded as compensation and may exclude indemnification of the Executive
for any such recovery) hereafter adopted by the Board of Directors of the Company in order to comply with (i) Section
954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, or any law of similar effect for recovery of
incentive-based compensation previously paid, and (ii) any regulations promulgated pursuant to any such law. 

 

6.
             ADDITIONAL COVENANTS.

 

6.1          Non-Competition.
During the Restricted Period, the Executive shall not, without the Company's prior written consent, directly or indirectly, as
principal, employee, consultant, partner or stockholder of, or in any capacity with, any business enterprise (other than as a holder
of not more than 1% of the combined voting power of the outstanding stock of a publicly held company):

 

		(a)	engage in the research, development, production, marketing, or sale of a product that competes
(or, upon commercialization, will compete) with any product that was marketed or sold by the Company prior to the termination of
the Executive's employment and on which the Executive worked or about which the Executive acquired Confidential Information;

 

		(b)	engage in the research, development, production, marketing, or sale of a product that competes
(or, upon commercialization, will compete) with any product of the Company that had entered into a Phase 2 clinical trial prior
to the termination of the Executive's employment and on which the Executive worked or about which the Executive acquired Confidential
Information; or

 

		(c)	engage in the research, development, design or commercialization of any display technology which
is licensed or sold (or marketed for license or sale) in a manner that competes with the Company's phage display technology licensing
and funded research program.

 

6.2          Non-Solicitation.
During the Restricted Period, the Executive shall not, without the Company's prior written consent, directly or indirectly, as
principal, employee, consultant, partner or stockholder of, or in any capacity with, any business enterprise (other than as a holder
of not more than 1% of the combined voting power of the outstanding stock of a publicly held company): (i) solicit, take away or
hire any employees or exclusive consultants of the Company; (ii) solicit or divert any of the business being conducted by the Company;
(iii) solicit, divert or accept any business that is being actively pursued by the Company with any customer or partner; or (iv)
divert investors or potential investors from the Company.

 

6.3          Non-Disparagement.
During the Term of this Agreement and at all times thereafter, the Executive shall not make any disparaging remarks to any third
party concerning the Company or any of its officers, directors, agents, employees, successors and assigns which might damage or
adversely affect their respective reputations, goodwill, or businesses.

 

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7.             Settlement
of Disputes; Arbitration. 

 

All claims by the Executive
for benefits under this Agreement shall be directed to the Board and shall be in writing. Any denial by the Board of a claim for
benefits under this Agreement shall be delivered to the Executive in writing and shall set forth the reasons for the denial and
the provisions of this Agreement relied upon. Any further dispute or controversy arising under or in connection with this Agreement
shall be settled exclusively by arbitration in Boston, Massachusetts, in accordance with the rules of the American Arbitration
Association then in effect. Judgment may be entered on the arbitrator's award in any court having jurisdiction.

 

8.
             Miscellaneous. 

 

8.1           Successors.
This Agreement shall be binding upon the Company and its successors and assigns. This Agreement shall inure to the benefit of and
be enforceable by the Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees,
devisees and legatees. If the Executive should die while any amount would still be payable to the Executive or his or her family
hereunder if the Executive had continued to live, all such amounts, unless otherwise provided herein, shall be paid in accordance
with the terms of this Agreement to the executors, personal representatives or administrators of the Executive's estate.

 

8.2           Notice.
All notices, instructions and other communications given hereunder or in connection herewith shall be in writing. Any such notice,
instruction or communication shall be sent either (i) by registered or certified mail, return receipt requested, postage prepaid,
or (ii) prepaid via a reputable nationwide overnight courier service, in each case addressed as follows:

 

	 	If to the Company, to:	Dyax Corp.
	 	 	55 Network Drive
	 	 	Burlington, Massachusetts 01803
	 		Attention:	Director of Human Resources
	 		Attention:	Corporate Counsel

 

	 	If to the Executive, to:	 
	 	 	 
	 	 	 

 

or to such other address as either the Company
or the Executive may have furnished to the other in writing in accordance herewith). Any such notice, instruction or communication
shall be deemed to have been delivered five business days after it is sent by registered or certified mail, return receipt requested,
postage prepaid, or one business day after it is sent via a reputable nationwide overnight courier service. Either party may give
any notice, instruction or other communication hereunder using any other means, but no such notice, instruction or other communication
shall be deemed to have been duly delivered unless and until it actually is received by the party for whom it is intended.

 

8.3           Employment
by Subsidiary. For purposes of this Agreement, the Executive's employment with the Company shall not be deemed to have terminated
solely as a result of the Executive continuing to be employed by a wholly-owned subsidiary of the Company.

 

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8.4          Executive's
Cooperation. During the Term and thereafter, in the latter case subject to the Company's payment of the Executive's reasonable
out-of-pocket expenses that have been approved in advance, the Executive shall, at reasonable times and subject to the Executive's
other obligations, reasonably cooperate with the Company and its subsidiaries in any internal investigation, any administrative,
regulatory or judicial proceeding or any dispute with a third person as reasonably requested by the Company or any of its subsidiaries
(including the Executive being available to the Company and its subsidiaries upon reasonable notice for interviews and factual
investigations, appearing at the Company's or any of its subsidiaries' request to give testimony without requiring service of a
subpoena or other legal process, volunteering to the Company and its subsidiaries all pertinent information and turning over to
the Company and its subsidiaries all relevant documents which are or may come into the Executive's possession with respect to which
the Executive does not owe a countervailing duty of confidentiality or nonuse, all at times and on schedules that are reasonably
consistent with the Executive's other permitted activities and commitments).

 

8.5           Severability.
The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other
provision of this Agreement, which shall remain in full force and effect.

 

8.6           Governing
Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the internal laws of
the Commonwealth of Massachusetts, without regard to conflicts of law principles.

 

8.7           Waivers.
No waiver by the Executive at any time of any breach of, or compliance with, any provision of this Agreement to be performed by
the Company shall be deemed a waiver of that or any other provision at any subsequent time.

 

8.8           Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed to be an original but both of which together shall
constitute one and the same instrument.

 

8.9           Tax
Withholding. Any payments provided for hereunder shall be paid net of any applicable tax withholding required under federal,
state or local law.

 

8.10           Entire
Agreement. This Agreement sets forth the entire agreement of the parties hereto in respect of the subject matter contained
herein and supersedes all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether
oral or written, by any officer, employee or representative of any party hereto in respect of the subject matter contained herein;
and any prior agreement of the parties hereto in respect of the subject matter contained herein is hereby terminated and cancelled,
including without limitation the Existing Employment Agreement. Notwithstanding the foregoing, the Company's Employee Confidentiality
Agreement as in effect from time to time between the Company and the Executive, shall not be superseded by or modified by the terms
of this Agreement and shall remain in full force and effect.

 

8.11           Amendments.
This Agreement may be amended or modified only by a written instrument executed by both the Company and the Executive.

 

8.12           Executive's
Acknowledgements. The Executive acknowledges that he or she: (a) has read this Agreement; (b) has been represented in the preparation,
negotiation, and execution of this Agreement by legal counsel of the Executive's own choice or has voluntarily declined to seek
such counsel; and (c) understands the terms and consequences of this Agreement.

 

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IN WITNESS WHEREOF, the
parties hereto have executed this Executive Retention Agreement as an instrument under seal of the date first set forth above.

 

	Dyax Corp.	 	EXECUTIVE
	 	 	 
	By:	 	 	 
	 	Name:	 	 	 
	 	Title:	 	 

 

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Exhibit
A

DEFINED
TERMS

 

		Award	“Award” shall mean any option, stock appreciation right, performance share, restricted
stock, stock unit or other stock-based award awarded under the Company’s Amended and Restated 1995 Equity Incentive Plan,
as amended from time to time, or any successor plan.

 

		Board	"Board" shall mean the Board of Directors of the Company

 

Change in
Control               "Change in Control" shall mean an event or occurrence set forth in any one or more of subsections (a)
through (d) below:

 

		(a)	any "person," as such term is used in Sections 13(d) and 14(d) of the Securities Exchange
Act of 1934, as amended (the "Exchange Act") (other than the Company, any trustee or other fiduciary holding securities
under an employee benefit plan of the Company, or any corporation owned directly or indirectly by the stockholders of the Company
in substantially the same proportion as their ownership of stock in the Company) is or becomes the "beneficial owner"
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly (other than as a result of acquisitions of such securities
from the Company), of securities of the Company representing fifty percent (50%) or more of the combined voting power of the Company's
then outstanding securities entitled to vote generally in the election of directors;

 

		(b)	individuals who, as of the date hereof, constitute the Board (the "Incumbent Board")
cease for any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to
the date hereof whose election, or nomination for election by the Company's stockholders, was approved by a vote of at least a
majority of the directors then comprising the Incumbent Board (other than an election or nomination of an individual whose initial
assumption of office is in connection with an actual or threatened election contest relating to the election of directors of the
Company) shall be, for purposes of this Agreement, considered to be a member of the Incumbent Board;

 

		(c)	the consummation of a merger, share exchange or consolidation of the Company or any subsidiary
of the Company with any other entity (each a "Business Combination"), other than (A) a Business Combination that would
result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into voting securities of another entity) beneficial ownership, directly or indirectly, of a
majority of the combined voting power of the Company or the surviving entity (including any person that, as a result of such transaction,
owns all or substantially all of the Company's assets either directly or through one or more subsidiaries) outstanding immediately
after such Business Combination or (B) a merger, share exchange or consolidation effected to implement a recapitalization of the
Company (or similar transaction) in which no "person" (as defined above) is or becomes the beneficial owner of fifty
percent (50%) or more of the combined voting power of the Company's then outstanding securities; or

 

		(d)	the stockholders of the Company approve (A) a plan of complete liquidation of the Company; or (B)
an agreement for the sale or disposition by the Company of all or substantially all of the Company's assets but excluding a sale
or spin-off of a product line, business unit or line of business of the Company if the remaining business is significant as determined
by the Company's board of directors in its sole discretion.

 

Exhibit A

 

    	 

    	 

    

 

Cause
                                   "Cause" shall mean:

 

		(a)	the willful and continued failure by the Executive to perform his or her duties with the Company
(other than any such failure resulting from incapacity due to physical or mental illness or any failure resulting from the Executive's
termination of his or her employment with the Company for Good Reason), as determined by the Company; or

 

		(b)	any act of material misconduct (including insubordination) or the commission of any act of dishonesty
or moral turpitude in connection with the Executive's employment, as determined by the Company; or

 

		(a)	the Executive's conviction or plea of nolo contendere of a felony or a crime involving moral
turpitude.

 

		Disability	"Disability" shall mean the Executive shall have been deemed "disabled" by
the institution appointed by the Company to administer the Company's Long-Term Disability Plan (or successor plan).

 

Good Reason                       "Good
Reason" shall mean the occurrence, without the Executive's written consent, of any of the following events or circumstances:

 

		(a)	The material diminution of the Executive's duties with the Company from that immediately prior
to the Change in Control; or

 

		(b)	A material reduction by the Company (other than across-the-board reductions applicable to all similarly
situated employees of the Company and the acquiror of the Company), in the Executive's base salary in effect immediately prior
to the Change in Control; or

 

		(c)	Any requirement by the Company that the location at which the Executive performs his or her principal
duties for the Company be changed to a new location that is more than fifty (50) miles from the location at which the Executive
performs his or her principal duties for the Company immediately prior to the Change in Control.

 

Restricted
Period              "Restricted Period" shall mean the period of twelve (12) months immediately following the Termination Date.

 

Severance
Period               "Severance Period" shall mean: (i) with respect to any termination that occurs under Section 5.1, the period
of nine (9) months following the Termination Date, or (ii) with respect to any termination that occurs under Section 5.2, the period
of twelve (12) months immediately following the Termination Date.

 

Termination
Date               "Termination Date" shall mean the close of business on the date specified in the Notice of Termination (which
date may not be less than fifteen (15) business days or more than one hundred twenty (120) days after the date of delivery of such
Notice of Termination), in the case of a termination other than one due to the Executive's Disability or death, or the date of
the Executive's Disability or death, as the case may be.

 

Exhibit A

 

    	 

    	 

    

 

EXHIBIT
B

RELEASE

 

In consideration of the
payment to me of the severance benefits pursuant to my Executive Severance Benefit Agreement with Dyax Corp. (the "Company")
dated ___________________, 2010 (the "Agreement"), I hereby agree as follows:

 

1.          I,
on behalf of myself and my representatives, agents, estate, heirs, successors and assigns, hereby irrevocably and unconditionally
release, remise and discharge the Company, its officers, directors, stockholders, affiliates (within the meaning of the Securities
Act of 1933), attorneys, agents and employees, and their respective predecessors, successors and assigns (collectively, the "Company
Releasees"), from any and all actions or causes of action, suits, claims, complaints, liabilities, contracts, torts, debts,
damages, controversies, rights and demands, whether existing or contingent, known or unknown, arising up to and through the date
of this Release out of my employment, or the termination of my employment, with the Company, including, but not limited to, all
employment discrimination claims under the Age Discrimination in Employment Act, 29 U.S.C. §621 et seq., Title VII of the
Civil Rights Act of 1964, 42 U.S.C. § 2000e et seq., the Americans With Disabilities Act of 1990, 42 U.S.C. § 12101 et
seq., the Family and Medical Leave Act, 29 U.S.C. § 2601 et seq., the Worker Adjustment and Retraining Notification Act ("WARN"),
29 U.S.C. § 2101 et seq., the Massachusetts Fair Employment Practices Act, M.G.L. c.151B, § 1 et seq., the Massachusetts
Civil Rights Act, M.G.L. c.12, §§ 11H and 11I, the Massachusetts Equal Rights Act, M.G.L. c.93, § 102 and M.G.L.
c.214, § 1C, the Massachusetts Labor and Industries Act, M.G.L. c.149, § 1 et seq., and the Massachusetts Privacy Act,
M.G.L. c.214, § 1B, all as amended, and all claims arising out of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et
seq. and the Employee Retirement Income Security Act of 1974 ("ERISA"), 29 U.S.C. § 1001 et seq., all as
amended; and all claims to any non-vested ownership interest in the Company, contractual or otherwise, including, but not limited
to, claims to stock or stock options. Notwithstanding the foregoing, (a) nothing in this Release prevents me from filing, cooperating
with, or participating in any proceeding before the EEOC or a state Fair Employment Practices Agency (except that I acknowledge
that I may not recover any monetary benefits in connection with any such claim, charge or proceeding), (b) this Release does not
extend to any rights I have that arise after the date hereof under the Agreement and (c) this Release does not extend to any rights
I may have to indemnification as an officer or director of the Company under the provisions of the Company's By-laws or applicable
law.

 

2.           I
have been advised by the Company to consult with counsel before signing this Release, and have been given the opportunity to consult
with my own counsel prior to signing this Release.

 

3.           I
have been given up to twenty-one (21) days from the receipt of this Release to consider whether to execute this Release.

 

4.           I
have been advised that even after I sign this Release, I may revoke it within seven (7) days of the date of my signing by delivering
a signed revocation notice to the Company. Delivery by ordinary mail will effectively revoke my assent to this Release if it is
postmarked no later than seven days after I sign this Release.

 

5.           This
Release shall not become effective and in force until eight days after I sign, provided I have not timely revoked my acceptance.

 

6.           I
acknowledge and reaffirm my obligations under the Dyax Corp. Employee Confidentiality Agreement.

 

7.           No
representation, promise or inducement has been offered or made to induce me to enter into this Release, and I am competent to execute
this Release and accept full responsibility therefor.

 

	Signature:	 	 
	 	 
	Name:	 	 

 

Exhibit BExhibit 10.21

 

MASTER SERVICES AGREEMENT

 

This Master Services Agreement (this "Agreement")
is entered into this September 12, 2013, (the "Effective Date") by and between Sonexus Health, LLC and its affiliates,
a Texas Limited Partnership having its principal place of business at 2730 S. Edmonds Lane, Ste. 300, Lewisville, TX 75067 ("Vendor"),
and Dyax Corp., 55 Network Drive, Burlington, MA 01803, (“Company”), (each a “Party” and together, the
“Parties”).

 

WHEREAS,
COMPANY is engaged in the clinical development and manufacturing of biological therapeutic products, including Kalbitor®
(the “Product”)

 

WHEREAS,
VENDOR desires to provide services to COMPANY as set forth more specifically on the SOWs attached hereto (the “Services”);

 

NOW, THEREFORE,
in consideration of the foregoing premises, and of the mutual covenants and undertakings contained herein and for such other good
and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree
as follows:

 

		1.	SERVICES

 

1.1.          VENDOR
will provide Services to COMPANY as set forth on SOWs attached hereto. In the event of a conflict between this Agreement
and SOWs attached hereto, the terms of the SOWs shall prevail except as otherwise expressly agreed by the parties
in writing.

 

1.2          VENDOR
shall conduct all Services under this Agreement and SOWs in accordance with Standard Operating Procedures (“SOPs”)
and other COMPANY specific work instructions (“COMPANY Instructions”) applicable to such activities, as established
by COMPANY from time to time. Such SOPs and COMPANY Instructions are the property of COMPANY.

 

1.3          All
obligations and services to be performed by VENDOR under this Agreement shall be solely performed by VENDOR and VENDOR shall not
outsource or subcontract any of its obligations hereunder without COMPANY’s prior written consent.

 

1.4          All
written materials and other items which VENDOR intends to distribute to any third parties, including without limitation to patients,
healthcare providers, the FDA or any other regulatory agency, in connection with or relating to the performance of the Services
must be pre-approved by COMPANY in writing. All internal training material used by VENDOR in connection with the performance of
the Services must be pre-approved by COMPANY in writing.

 

	2.		INVOICES AND PAYMENT

 

2.1.          Except
as otherwise set forth on the SOWs attached hereto, VENDOR will invoice COMPANY for the Services rendered
on a monthly basis. The Monthly Fee shall be payable by COMPANY within thirty (30) days of receipt of VENDOR’S invoice for
Services for the prior month. If COMPANY disputes a portion of an invoice, COMPANY agrees to timely pay the undisputed portion
of such invoice in accordance with this Section 2.1, and VENDOR’ acceptance of such partial payment will not waive
any of its rights as to the remaining balances nor in any way constitute accord and satisfaction. COMPANY will notify VENDOR of
any disputed charges in writing within fifteen (15) calendar days of the invoice date covering such charges. In the absence of
any such notice of dispute, all invoices will be deemed to be correct and due in full upon receipt.

 

		3.	WARRANTIES

 

3.1.          VENDOR
warrants to COMPANY that the Services will be performed in a professional manner. VENDOR further warrants to COMPANY that the
Services will comply with any applicable law, rule or regulation as of the date such Services are performed by VENDOR.

 

3.2.          COMPANY
represents and warrants to VENDOR that COMPANY will comply with all federal, state and local laws, rules and regulations applicable
to the Program, (all as such terms are defined in the SOWs), and any other obligations, actions or omissions of COMPANY
in connection with this Agreement.

 

3.3.          VENDOR
represents and warrants to COMPANY that VENDOR will comply with all federal, state and local laws, rules and regulations applicable
to the Program, (all as such terms are defined in the SOWs), and any other obligations, actions or omissions of VENDOR in
connection with this Agreement.

 

    	 

    	 

    

  

3.4          The
parties mutually represent and warrant to each other that the service fees paid to VENDOR in connection with the Services are intended
solely for payment for the Services and (i) are not intended in any way as remuneration for VENDOR to use, purchase, or recommend
any COMPANY product or service, except as otherwise provided for in this Agreement, (ii) represent the fair market value for the
Services based upon arms-length negotiations, (iii) are bona fide service fees that do not constitute a discount or other form
of compensation that must be included in COMPANY’s reporting of pricing information for its product to the Centers for Medicare
and Medicaid Services; (iv) are not intended in any way as payment related to a drug formulary and have not been negotiated or
discussed between the parties in connection with any such drug formulary; and the Services do not involve the counseling or promotion
of a business arrangement or other activity that violates any state or federal law.

 

3.5.           THE
FOREGOING WARRANTIES ARE THE ONLY REPRESENTATIONS OR WARRANTIES MADE BY THE PARTIES, AND ARE MADE EXCLUSIVELY FOR THE BENEFIT OF
THE OTHER PARTY IN LIEU OF ALL OTHER WARRANTIES AND REPRESENTATIONS, EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED
WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE OR OTHERWISE.

 

		4.	TERMINATION

 

4.1.          Unless
otherwise specified in a SOW, Dyax may terminate this Agreement or any SOW for any reason or no reason upon giving the other party
ninety (90) days' prior written notice. This Agreement may be earlier terminated by the mutual written agreement of both parties
hereto.

 

4.1          This
Agreement may be terminated by either party on written termination notice to the other party in the event of any material breach
of this Agreement by the other, which is not cured within thirty (30) calendar days after delivery of written notice by the non-breaching
party specifying such breach and requiring cure.

 

4.2          A
party may immediately terminate this Agreement by written notice if the other party (a) makes an assignment for the benefit of
creditors, (b) files a petition for reorganization or liquidation under any federal or state bankruptcy law, or any such petition
is filed against such other party and is not withdrawn or dismissed within sixty (60) days after filing, (c) a receiver is appointed
for any part of the other party’s assets and said appointment is not vacated within sixty (60) days, or (d) admits in writing
its inability to pay its debts as they become due.

 

4.3.          Upon
termination of this Agreement by either party, COMPANY will promptly pay VENDOR all fees owed to VENDOR with respect to Services
provided pursuant to Section 1 hereof up through the effective date of such termination. In the event that COMPANY has previously
made any payments to VENDOR with respect to any Services that have not yet been provided by VENDOR as of the effective date of
such termination, VENDOR shall promptly (and in any event within 10 days) refund such payments to COMPANY upon the termination
of this Agreement.

 

		5.	DATA, PROPRIETARY AND CONFIDENTIAL INFORMATION; PATIENT PRIVACY AND ADVERSE EVENT REPORTING

 

5.1          All
data collected in performing the Services under this Agreement or any SOW shall be owned by COMPANY. Upon expiration or termination
of this Agreement or any SOW, COMAPANY will take ownership of all data collected by VENDOR, in a method mutually agreed upon by
the parties.

 

5.2.          Nothing
in this Agreement shall be construed to grant either party any license or proprietary interest in any proprietary systems, technology,
ideas, analysis, information, research, materials, data, processes, techniques or concepts of the other party, and each party will
retain all rights in and to intellectual property that it owned or developed prior to the date of this Agreement or acquired or
developed after the date of this Agreement without reference to or use of the intellectual property of the other party. By way
of clarification, all proprietary systems, databases and web-based applications of VENDOR, and any programming, software, routines,
analytic tools, embedded logic or table structures associated therewith, that have been developed, customized, maintained, utilized
and improved by VENDOR in connection with the Services are and will remain the property of VENDOR. In addition, any standard operating
procedures or work rules specific to VENDOR and its proprietary systems, databases and applications that were developed by VENDOR
are and will remain the property of VENDOR and will not be transferred to COMPANY upon any expiration or termination of this Agreement
or the Services.

 

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5.3.          Each
party agrees that any confidential trade secret or proprietary information, including but not limited to this Agreement, information
concerning the other's price quotes, preliminary concepts, sales and/or marketing proposals, branding strategies, creative designs
and concepts, technical data, web designs, trade secrets and know-how, research, product plans, products, customer technical requirements,
software, services, suppliers, supplier lists, customers, employee lists, customer lists, markets, developments, inventions, processes,
technology, designs, drawings, apparatus, techniques, marketing, forecasts, business strategy, finances or other business information,
disclosed by the other party or made available by the other party, whether in writing or other tangible form, orally or otherwise
(collectively, "Confidential Information") will not, without the disclosing party's authorization, be disclosed
to any other party or used by the receiving party for its own benefit except as contemplated by this Agreement. Likewise, the recipient
will not reverse engineer, disassemble or decompile any Confidential Information of the disclosing party. The recipient will notify
the disclosing party if the recipient becomes aware of any unauthorized use or disclosure of the disclosing party’s Confidential
Information, and the recipient will be responsible for any breach of confidentiality obligations by its employees, officers, directors,
agents, contractors or other authorized representatives (or those of its affiliates). The recipient will protect the confidentiality
of the Confidential Information using at least the same measures it takes to protect its own confidential information of like kind
and will restrict access to Confidential Information to its personnel or other authorized agents or representatives on a need to
know basis.

 

5.4.          Nothing
in this Agreement will restrict either party's use of Confidential Information: (a) that is or becomes publicly available through
no breach of this Agreement; (b) independently developed by it; (c) previously known to it without obligation of confidence; (d)
acquired by it from a third party which is not, to its knowledge, under an obligation of confidence with respect to such information;
or (e) is the subject of a written permission to disclose provided by the disclosing party. Notwithstanding any other provision
of this Agreement, disclosure of Confidential Information shall not be precluded if such disclosure: (a) is in response to a valid
order of a court or other governmental body of the United States or any political subdivision thereof, provided, however, that
the responding party shall first have given notice to the other party hereto in order that such other party may obtain a protective
order requiring that the Confidential Information so disclosed be used only for the purposes for which the order was issued and
the responding party uses reasonable efforts to have such information be treated as confidential and under seal; (b) is otherwise
required by law, including disclosure of this Agreement as may be required under the Securities Exchange Act; or (c) is otherwise
necessary to establish rights or enforce obligations under this Agreement, but only to the extent that any such disclosure is necessary.
If, in the absence of a protective order, other legal remedy or the receipt of a waiver by the disclosing party, the receiving
party is nonetheless, in the opinion of the receiving party’s legal counsel, legally compelled to disclose Confidential Information
to any tribunal or else stand liable for contempt or suffer other censure or penalty, the receiving party may, without liability
hereunder, disclose to such tribunal only that portion of the Confidential Information which such counsel advises is legally required
to be disclosed, provided that the receiving party exercises its good faith efforts to preserve the confidentiality of the Confidential
Information including, without limitation, by cooperating with the disclosing party to obtain an appropriate protective order or
other reliable assurance that confidential treatment will be accorded confidential treatment by such tribunal. Confidential Information
will be returned or destroyed upon the earlier of: (i) the termination of this Agreement; or (ii) the disclosing party's request.
Either party may retain, subject to the obligations of this Section 5, copies of Confidential Information for recordkeeping
purposes.

 

5.5.          Each
party acknowledges that, when it is the recipient, money damages would not be a sufficient remedy for the disclosing party in the
event of any breach of these provisions and that the disclosing party is entitled to seek specific performance and injunctive or
other equitable relief as a remedy for any such breach. The recipient further agrees to waive any requirement for the posting of
any bond in connection with any such remedy. Such remedy will be in addition to any other available remedies at law or in equity.

 

5.6.          VENDOR
shall strictly maintain the confidentiality of all information which identifies any patient under this Agreement in accordance
with all applicable local, state, and federal laws, including without limitation the Health Insurance Portability and Accountability
Act of 1996, as amended (“HIPAA”), and applicable regulations.

 

5.7          If
at any time, VENDOR receives notice of an adverse event or product complaint related to the COMPANY’s pharmaceutical product,
VENDOR shall notify COMPANY as soon as practicable, but in no event more than three (3) business days after the date of its receipt
of notification of the adverse event or product complaint and no more than one (1) business day in respect of an adverse event
that constitutes a serious adverse experience as that term is defined in 21 C.F.R. § 600.80. VENDOR shall direct any such
notice to Dyax by telephone at 617-250-5588 or as otherwise set forth in applicable SOPs or COMPANY Instructions. Dyax shall have
responsibility for collecting follow-up information in respect of a reported adverse event, for determining whether such information
must be reported by COMPANY to FDA. VENDOR shall make all reasonable efforts to assist COMPANY with any follow-up investigation
necessary to comply with applicable law with respect to reporting of an adverse event.

 

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		6.	GOVERNMENT INQUIRIES; RECORDS AND AUDITS

 

6.1          If
any governmental or regulatory authority (i) contacts VENDOR with respect to the Services; (ii) conducts, or gives notice of its
intent to conduct, an inspection of VENDOR relating to COMPANY’s pharmaceutical product; (iii) takes, or gives notice to
take, any other regulatory action alleging improper or inadequate practices with respect to any of VENDOR, which would adversely
affect the Services; or (iv) serves upon VENDOR a subpoena related to the Services, VENDOR shall, to the extent legally permissible,
notify COMPANY within one (1) business day or sooner if necessary to permit COMPANY to be present at, or otherwise participate
in the inspection or government inquiry. Unless otherwise prohibited by applicable law or the governmental or regulatory authority,
COMPANY shall have the right to be present at and to participate in any such governmental action with respect to the Services,
and VENDOR shall provide COMPANY with copies of all documentation issued by any governmental or regulatory authority and proposed
response thereto.

 

6.2          VENDOR
shall keep complete and accurate books and records pertaining to VENDOR’s activities under this Agreement. Such books and
records shall be retained for at least seven (7) years after the expiration or termination of this Agreement or for such longer
period as may be required by applicable laws.

 

6.3          VENDOR
shall permit COMPANY employees to access VENDOR’s facilities at any mutually agreed upon time during normal business hours
to oversee operations relating to the Services provided hereunder. COMPANY, at its expense, may perform, or have an independent
third party auditor perform audits of the records maintained by VENDOR and may observe, or have an independent third party auditor
observe, the performance by VENDOR of the Services to ensure compliance with the terms of this Agreement and any applicable SOW.
COMPANY shall provide VENDOR with at least ten (10) business days advance written notice of such audit, and shall conduct any audit
during normal business hours in a manner that does not interfere with VENDOR’s normal business operations. VENDOR and COMPANY
shall discuss the results of any such audits and VENDOR shall implement all corrective measures reasonably requested by COMPANY.

 

		6.	ASSIGNMENT

 

Neither party will have the right to assign
this Agreement without the other party's prior written consent, and any attempt to do so will be void; provided, however, that
either party will have the right to assign this Agreement to any affiliate or to any person or entity that acquires or succeeds
to all or substantially all of its business or assets by providing written notice to the other party hereto.

 

		7.	LIMITATION OF LIABILITY

 

THE MAXIMUM AGGREGATE LIABILITY OF VENDOR AND
ITS MANAGERS, MEMBERS, OFFICERS, EMPLOYEES, REPRESENTATIVES, AGENTS AND CONTRACTORS (COLLECTIVELY, "RELATED PARTIES")
FOR DAMAGES UNDER THIS AGREEMENT FOR ANY AND ALL CAUSES WHATSOEVER, AND COMPANY’S MAXIMUM REMEDY, REGARDLESS OF THE FORM
OF ACTION, WHETHER IN CONTRACT, TORT OR OTHERWISE, WILL BE LIMITED TO AN AMOUNT EQUAL TO THE ACTUAL DAMAGES SUFFERED BY THAT PARTY.
IN NO EVENT WILL EITHER PARTY OR ITS RELATED PARTIES BE LIABLE FOR ANY LOST PROFITS, BUSINESS INTERRUPTION OR FOR ANY INDIRECT,
INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY OR PUNITIVE DAMAGES ARISING OUT OF OR RELATING TO THE SERVICES PROVIDED UNDER THIS
AGREEMENT; PROVIDED, THAT THE FOREGOING LIMITATION shall not apply to any Claim subject
to indemnification under Section 8 that is brought by a third party.

 

		8.	Indemnification and Insurance. 

 

8.1.          
Each party (the “Indemnifying Party”) shall defend, indemnify and hold harmless the other party and its affiliates,
directors, officers, and employees (collectively, the “Indemnitees”) from and against any and all liabilities, losses,
damages, costs, and expenses (including without limitation reasonable attorney’s fees) incurred by the Indemnities in connection
with any claim, suit action, demand or judgment in each case initiated by a third party (“Claim”) to the extent that
such Claims arise from: (i) the Indemnifying Party’s negligence or willful misconduct in performing its obligations hereunder;
or (ii) the Indemnifying Party’s breach of any material term or condition of this Agreement.

 

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8.2.          Each
party agrees to give the other prompt written notice of any Claims for which the other might be liable under this Section 8
and the opportunity to defend, negotiate and settle such Claims. Each party shall provide the other with all information in its
possession and all reasonable assistance necessary to enable the other to carry on the defense of such suit, at the other’s
expense. An Indemnitee that intends to claim indemnification under this Section 8 shall promptly notify the the Indemnifying
Party in writing of any Claim in respect of which the Indemnitee or any of its directors, officers, and employees intend to claim
such indemnification; provided, however, that any failure or delay in giving such notice shall only excuse the Indemnifying
Party from its indemnity obligations hereunder to the extent that the Indemnifying Party is prejudiced thereby. The Indemnitee
shall permit, and shall cause its affiliates and their respective directors, officers, and employees to permit, the Indemnifying
Party, at its discretion, to defend and/or settle any such Claim at the Indemnifying Party’s sole expense, and agrees to
the complete control of such defense or settlement by the Indemnifying Party; provided, however, such settlement
does not adversely affect the Indemnitee’s rights under this Agreement or impose any obligations on the Indemnitee in addition
to those set forth herein in order for the Indemnifying Party to exercise such rights. No such Claim shall be settled without the
prior written consent of the Indemnifying Party, not to be unreasonably withheld, and the Indemnifying Party shall not be responsible
for any legal fees or other costs incurred other than as provided herein. The Indemnitee shall cooperate fully with the Indemnifying
Party and its legal representatives in the investigation and defense of any Claim covered by this indemnification, all at the reasonable
expense of the Indemnifying Party. The Indemnitee shall have the right, but not the obligation, to be represented by counsel of
its own selection and expense.

 

8.3.          Each
party shall maintain sufficient insurance to cover its obligations hereunder. Upon either party’s request, the other party
shall provide evidence of coverage. Each party warrants that its assets are sufficient to cover any self-insurance liability it
assumes under this Agreement.

 

		9.	ENTIRE AGREEMENT; AMENDMENT

 

This Agreement constitutes the entire understanding
between COMPANY and VENDOR, and supersedes all prior and contemporaneous agreements, arrangements, representations and communications
(whether oral or written) regarding the subject matter of this Agreement. This Agreement may not be modified, amended, or supplemented
except by an agreement in writing signed by all of the parties hereto.

 

		10.	WAIVER / SEVERABILITY

 

Waiver of any breach or failure to enforce
any term of this Agreement will not be deemed a waiver of any breach or right to enforce which may thereafter occur. No waiver
may be valid against any party hereto unless made in writing and signed by the party against whom enforcement of such waiver is
sought and then only to the extent expressly specified therein. If any term or provision of this Agreement is found by a court
of competent jurisdiction to be illegal, invalid, or otherwise unenforceable, such term or provision will not affect the Agreement's
other terms or provisions, or the whole of this Agreement, but such term or provision will be deemed modified to the extent necessary
in the court's opinion to render such term or provision enforceable, and the rights and obligations of the parties will be construed
and enforced accordingly, preserving to the fullest permissible extent the intent and the agreements of the parties.

 

		11.	APPLICABLE LAW AND VENUE

 

This
Agreement shall be governed by the laws of the State of New york, excluding choice of law provisions. 

 

		12.	NOTICES

 

Any notice or other communication under this
Agreement will be in writing and will be effective upon the earlier of actual receipt, three days following deposit into the United
States mail (certified mail, return receipt requested), the next business day following deposit with a nationally recognized overnight
courier service, or the same day following transmission of a legible facsimile copy during regular business hours, in each case
with any delivery fees pre-paid and addressed to the party at the address set forth on the first page of this Agreement or such
other address as that party may notify the other from time to time in accordance with this Section 12.

 

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		13.	DISPUTE RESOLUTION 

 

13.1.          Should
any disputes arise between the parties, COMPANY and VENDOR agree to use their best efforts to resolve them amicably. If
such a dispute may not be resolved between the parties, then any controversy, claim or dispute arising out of or relating to the
performance, construction, interpretation or enforcement of this Agreement, including disputes as to the scope of this Section
13 shall, if not resolved through good faith negotiations between the parties (including mutually agreeable mediation provisions),
be submitted to mandatory, binding, confidential arbitration pursuant to the Federal Arbitration Act, 9 U.S.C.§1 et seq. Arbitration
shall be conducted in accordance with the Commercial Arbitration Rules of the American Arbitration Association (“AAA”)
then pertaining, except where those rules conflict with this provision, in which case this provision shall control. The arbitration
shall take place as soon as practicable thereafter in such location as may be agreed to by the parties. The number of arbitrators
shall be three (3), one (1) of whom is selected by VENDOR, one (1) of whom is selected by COMPANY, and one (1) of whom shall be
jointly selected by the parties (or by the other two arbitrators if the parties cannot agree within fifteen (15) days of selecting
the other two arbitrators); provided, that each arbitrator selected shall be an attorney who has at least fifteen (15) years
of experience with a law firm or corporate law department or who was a judge of a court of general jurisdiction or listed on the
AAA’s National Roster of Arbitrators. The arbitration award shall be final and binding and it may be confirmed and enforced
in any court of competent jurisdiction. The arbitration proceeding shall commence no later than forty-five (45) days from the date
of the selection of the arbitrator. The arbitrator shall issue the award no later than thirty (30) days from the close of the hearing.
Each party shall pay for all attorney fees it incurs in connection with the arbitration. Each party shall share equally in the
costs of the arbitration. Each party shall have the right to institute judicial proceedings against the other party or anyone acting
by, through or under such other party (including the right to seek and to obtain injunctive relief) to enforce the instituting
party’s arbitration rights or the decision of the arbitrators.

 

13.2.          The
arbitration provisions of this Section 13 shall not apply to (i) any action by a party seeking injunctive relief (or other
provisional remedy) or (ii) any action that must be commenced or filed (or not be dismissed) to avoid prejudicing a party’s
rights. In addition, and notwithstanding anything in this Section 13 to the contrary, any claim for indemnification by one
party against the other party may be brought in the court in which the underlying claim that gives rise to the indemnification
claim is pending, and each of the parties consents to personal jurisdiction, and waives any objection that it may have to the laying
of venue of any such action or proceeding, in such court.

 

		14.	MISCELLANEOUS

 

14.1.          Independent
Contractor. VENDOR is an independent contractor of COMPANY, and neither party will have the authority to bind, represent
or commit the other. Nothing in this Agreement will be deemed or construed to create a joint venture, partnership, or agency relationship
between the parties for any purpose. VENDOR and its employees will not be entitled to any of COMPANY's benefits, including, without
limitation, (a) income tax withholding; or (b) 401(k) or other retirement benefits. VENDOR will be solely responsible for the withholding
and payment of all taxes and insurance premiums owed by its employees, including workers' compensation insurance.

 

14.2.          Survival.    The
terms of Sections 2, 4, 5, 6.2, 7, 8, 10, 11, 13 and 14 and other
sections which by their nature are intended to extend beyond termination will survive termination of this Agreement for any reason.

 

14.3.          Authority.    This
Agreement will become valid and binding on each party only upon execution by each party's respective duly authorized representative.

 

14.4.           Third
Parties. Nothing herein expressed or implied is intended or shall be construed to confer upon or give to any person other
than the parties hereto and their successors or permitted assigns, any rights or remedies under or by reason of this Agreement.

 

14.5.          Headings.
The headings of sections contained in this Agreement are for convenience only and shall not be deemed to control or affect the
meaning or construction of any provision of this Agreement.

 

14.6.          Force
Majeure. Neither party shall be liable, in any manner, for failure to meet its obligations pursuant to this Agreement (other
than its obligation to pay money) to the extent that such failure is directly or indirectly caused by matters which are beyond
the reasonable control of such party, including without limitation any delay or failure due to: strikes or labor disputes; earthquakes,
storms, floods or other extreme weather or acts of God; war, terrorism or civil commotion; fires; explosions; delay of carriers,
suppliers, utilities or telecommunication providers.

 

14.7.          Multiple
Counterparts. This Agreement may be executed in multiple counterparts, including by facsimile signature, each of which
shall be deemed to be an original but all of which together shall constitute one and the same instrument.

 

    	6

    	 

    

 

IN WITNESS WHEREOF,
the parties have caused this Agreement to be executed and delivered as of the date first above written, and represent that the
persons whose signatures appear below are duly authorized to execute this Agreement.

 

	Sonexus Health, LLC	Dyax Corp.
	 	 
	By: /s/Jan Nielson	By: /s/R.J. Berard
	 	 
	Name: Jan Nielson	Name: R.J. Berard
	 	 
	Title: Division President, Access and Patient Support	Title: Senior VP

 

    	7

    	 

    

 

Sample Statements of Work

 

This Statement of Work is dated ____, and is
governed by the terms of the Master Services Agreement (the “Agreement”) dated _______ between Sonexus Health, LLC
(“Vendor”) and Dyax Corp. (“Company”). In the event of a conflict between any of the terms or provisions
of this Statement of Work and the Agreement, the terms of this Statement of Work (SOW) shall prevail. Any capitalized terms used
but not defined herein shall have the respective meanings set forth in the Agreement.

 

    	8

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