Document:

EX-10.3

TERMINATION AGREEMENT

This Termination Agreement, dated as of 18 June 2012 (the “Effective Date”), is by and between

(1) EPICEPT CORPORATION, a corporation organized under the laws of the State of Delaware,
USA and having its principal offices at 777 Old Saw Mill River Road, Tarrytown, New York
10591, USA (“Corp”);

(2) EPICEPT GMBH, a corporation organized under the laws of Germany and having its principal
place of business at Gothestrasse 4, 80336 Munich Germany (“GmbH”); and

(3) MEDA AB, a company organized under the laws of Sweden and having its principal offices
at Pipers Väg, Box 906, SE-170 09, Solna, Sweden (“MEDA”);

(4) MEDA PHARMA GMBH & CO. KG, a company organized under the laws of Germany and having its
principal place of business at Benzstraße 1, 61352 Bad Homburg v.d.H., Germany (“Meda
GmbH”),

(referred to herein each as a “Party” and, collectively, as the “Parties”).

Background

A. Whereas Corp, GmbH and MEDA are signatories to the License and Supply Agreement dated 8
January 2010 (the “License Agreement”);

B. Whereas Corp and MEDA are signatories to the Supply Agreement dated 29 March 2010 (the
“Supply Agreement”);

C. Whereas Corp, MEDA and Meda GmbH are signatories to the Quality Assurance Agreement dated
29 March 2010 (the “Quality Assurance Agreement”);

D. Whereas MEDA and SARL (as defined below) are acquiring certain assets relating to Ceplene
(as defined below) from Corp and GmbH, the Parties agree that the License Agreement, the
Supply Agreement and the Quality Assurance Agreement shall be terminated on 18 June 2012;

E. Whereas as a result thereof the Parties have agreed to enter into this mutual release and
termination of all of their respective past, future and outstanding obligations under the
License Agreement, the Supply Agreement and the Quality Assurance Agreement, as applicable.

NOW THEREFORE, in consideration of the following mutual promises and obligations, and for other
good and valuable consideration, the adequacy and sufficiency of which are hereby acknowledged, the
parties agree as follows:

	1.	 	DEFINITIONS

“Affiliate” means in relation to a Party, a company or entity, which directly or indirectly
controls, or is controlled by, or is under common control with, as the case may be, the
relevant Party. For this purpose, “control” means the ownership directly or indirectly of
more than fifty percent (50%) of the voting rights in a legal entity. “Controls”,
“controlled by” and other derivatives shall be construed accordingly.

“Agreement” means this Agreement and any Schedules hereto.

“Asset Purchase Agreement” means the agreement between Corp, GmbH, MEDA and Meda Pharma Sarl
(“SARL”) dated 18 June 2012 in relation to the purchase by MEDA and SARL of certain rights
to Ceplene® in the Territory (as defined in the asset purchase agreement) from
Corp and GmbH.

“Ceplene” means any chemical composition comprising or containing histamine dihydrochloride
(2-(3H-imidazol-4-yl)ethylnamine dihydrochloride).

“Cooperation Agreement” means the agreement between Corp, GmbH and MEDA dated 18 June 2012 in
relation to the cooperation of the parties to give effect to the provisions of the Asset Purchase
Agreement, in particular through the provision by Corp and GmbH of the transitional services as set
out in the agreement.

“Information” shall mean tangible and intangible techniques, technology, practices, trade
secrets, inventions (whether patentable or not), methods, knowledge, know-how, skill,
experience, test data and results (including pharmacological, toxicological and clinical
test data and results), analytical and quality control data, results, descriptions and
compositions of matter.

	2.	 	INTERPRETATION

	 	2.1	 	References in this Agreement to any gender shall include references to all
genders.

	 	2.2	 	Unless the context otherwise requires, references in the singular include
references in the plural and vice versa.

	 	2.3	 	References to a Party to this Agreement or to other agreements described
herein means those persons executing such agreements.

	 	2.4	 	The words “include”, “including”, “includes” or “in particular” shall be
deemed to be followed by the phrase “without limitation” or the phrase “but not limited
to” in all places where such words appear in this Agreement.

	 	2.5	 	This Agreement is the joint drafting product of EpiCept and Meda and each
provision has been subject to negotiation and agreement and shall not be construed for
or against either party as drafter thereof.

	3.	 	TERMINATION

	 	3.1	 	With effect from the Effective Date, each of the parties to the Licence
Agreement agrees that the Licence Agreement shall be unconditionally and irrevocably
terminated without further act, in its entirety. The Licence Agreement shall be of no
further force or effect whatsoever without any liability to any party thereto. Each of
the parties to the Licence Agreement shall be released accordingly from any and all
liabilities and obligations thereunder. This includes any and all claims which are not
contemplated (whether on the facts or on the law) or known to the parties at the date
of this Agreement and includes, but is not limited to, claims for interest and costs.
The parties agree that any outstanding obligations under the License Agreement (whether
accrued or of a future nature) shall be hereby terminated, released and waived.

	 	3.2	 	With effect from the Effective Date, each of the parties to the Supply
Agreement agrees that the Supply Agreement shall be unconditionally and irrevocably
terminated without further act, in its entirety. The Supply Agreement shall be of no
further force or effect whatsoever without any liability to any party thereto. Each of
the parties to the Supply Agreement shall be released accordingly from any and all
liabilities and obligations thereunder. This includes any and all claims which are not
contemplated (whether on the facts or on the law) or known to the parties at the date
of this Agreement and includes, but is not limited to, claims for interest and costs.
The parties agree that any outstanding obligations under the Supply Agreement (whether
accrued or of a future nature) shall be hereby terminated, released and waived.

	 	3.3	 	With effect from the Effective Date, each of the parties to the Quality
Assurance Agreement agrees that the Quality Assurance Agreement shall be
unconditionally and irrevocably terminated without further act, in its entirety. The
Quality Assurance Agreement shall be of no further force or effect whatsoever without
any liability to any party thereto. Each of the parties to the Quality Assurance
Agreement shall be released accordingly from any and all liabilities and obligations
thereunder. This includes any and all claims which are not contemplated (whether on the
facts or on the law) or known to the parties at the date of this Agreement and
includes, but is not limited to, claims for interest and costs. The parties agree that
any outstanding obligations under the Quality Assurance Agreement (whether accrued or
of a future nature) shall be hereby terminated, released and waived.

	 	3.4	 	Each of the Parties hereby agrees to do all such things and to enter into and
execute all such additional deeds, documents, memoranda, agreements or instruments as
may be reasonably necessary to give effect to the discharges and releases effected by
this Agreement.

	4.	 	RELEASE OF CLAIMS

	 	4.1	 	The Parties agree that all outstanding claims, counterclaims and causes of
action, rights, demands and set-offs, of whatsoever nature and kind, whether past,
present or future (whether presently known or unknown), including interests and costs,
arising in any manner whatsoever out of the License Agreement, the Supply Agreement and
the Quality Assurance Agreement are, without any admissions, whether of liability,
obligation, fact or of any nature or kind whatsoever, hereby fully and finally settled,
irrevocably released, waived and abandoned, to be replaced by the rights arising under
this Agreement and the terms of this Agreement shall be in full and final settlement of
all such claims and causes of action.

	 	4.2	 	The Parties themselves, their successors, assigns and Affiliates undertake
that they:

	 	4.2.1	 	will not, apart for the purposes of enforcing this Agreement, make,
bring, pursue, voluntarily aid in any way, commence or prosecute or cause to be
commenced or prosecuted, any claim, action, suits or any further proceedings in
respect of claims against each other, their Affiliates, or the officers,
directors, agents, contractors or employees thereof (whether direct or
indirect) in respect of or relating to or arising from or in connection with
the License Agreement and/or the Supply Agreement and/or the Quality Assurance
Agreement and/or any other matters related to arising out of or in connection
therewith, in any jurisdiction or forum; and

	 	4.2.2	 	will ensure that none of their Affiliates or the officers,
directors, agents, contractors or employees thereof (whether direct or
indirect) will make claims against each other in respect of or relating to or
arising from or in connection with the License Agreement and/or the Supply
Agreement and/or the Quality Assurance Agreement.

	5.	 	COSTS

	 	5.1	 	Each Party shall bear its own legal and own other costs, charges and expenses
in connection with the negotiation, preparation and implementation of this Agreement.

	6.	 	REPRESENTATION AND WARRANTIES

	 	6.1	 	Each Party warrants and represents that it has not sold, transferred, assigned
or otherwise disposed of its interest in any of the claims being released pursuant to
clause 4 of this Agreement.

	 	6.2	 	Each Party warrants and represents to each other Party that it has the full
right, power and authority to execute, deliver and perform this Agreement.

	7.	 	NO ADMISSION

	 	7.1	 	This Agreement is not, and shall not, be construed by the Parties as an
admission of liability or wrongdoing on the part of any Party or any other person or
entity.

	8.	 	CONFIDENTIALITY

	 	8.1	 	The terms and conditions of this Agreement and all Information of a
confidential nature whether oral or written or in any form, obtained from any Party in
relation to this Agreement, the License Agreement, the Supply Agreement or the Quality
Assurance Agreement (whether before or after the date of this Agreement), shall be
governed by the provisions of clause 7 (Confidentiality) of the Cooperation Agreement.

	9.	 	PUBLICITY

	9.1	 	No Party shall use the name of the other Parties (including each Party’s Affiliates)
for promotional purposes without the prior written consent of the entity whose name is
proposed to be used. No news release, publicity or other public announcement, except for
publication otherwise in accordance with the terms of this Agreement, either written or oral,
regarding this Agreement shall be made by any Party without the prior written consent of the
entity whose name is proposed to be used.

	9.2	 	The provisions in clauses 8 and 9 will not apply to that part of the Confidential
Information, which the receiving party is able to demonstrate by documentary evidence:

	 	9.2.1	 	was fully in possession of the receiving party prior to receipt from the
disclosing party and was not acquired directly or indirectly from the disclosing party
or any of its representatives;

	 	9.2.2	 	was in the public domain at the time of receipt from the disclosing party;
or becomes part of the public domain through no fault of the receiving party or any of
its representatives;

	 	9.2.3	 	is lawfully received by the receiving party on a non-confidential basis from
a third party having a right of further disclosure;

	 	9.2.4	 	is developed by the receiving party without reference to the disclosing
party’s Confidential Information; or

	 	9.2.5	 	is required by any applicable laws or regulatory body to be disclosed,
provided that the party required to make the disclosure provides prior written notice
of such disclosure to the other party, to the extent legally permissible, and limits
disclosure to that portion of the Confidential Information which it is legally required
to disclose.

	10.	 	NOTICES

	 	10.1	 	Any notice or other communication from one Party to each other Party which is
required or permitted to be made by the provisions of this Agreement shall be conducted
in accordance with clause 8.4 of the Cooperation Agreement.

	11.	 	ASSIGNMENT

	 	11.1	 	This Agreement shall not be assigned by any Party without the prior written
consent of the other Parties, provided however, that:

	 	11.1.1	 	MEDA may assign this Agreement to any Affiliate of MEDA; and

	 	11.1.2	 	Any Party may assign the benefit and burden of this Agreement to
any acquiror of all or substantially all of the business or assets to which
this Agreement relates if such acquiror confirms and acknowledges the
obligations of the assigning Party under this Agreement.

Any attempted assignment in contravention with the foregoing shall be void. This
Agreement shall be binding on and inure to the benefit of the Parties hereto, their
successors and any permitted assigns.

	12.	 	SEVERABILITY

	 	12.1	 	The provisions of this Agreement shall be deemed severable and the invalidity
or unenforceability of any provision shall not affect the validity or enforceability of
the other provisions hereof. If any provision of this Agreement, or the application
thereof to any person or any circumstance, is invalid or unenforceable, (a) a suitable
and equitable provision shall be substituted therefore in order to carry out, so far as
may be valid and enforceable, the intent and purpose of such invalid or unenforceable
provision and (b) the remainder of this Agreement and the application of such provision
to other persons, entities or circumstances shall not be affected by such invalidity or
unenforceability.

	13.	 	NO WAIVER

	 	13.1	 	The failure by any Party to exercise any right under, or to object to the
breach by any other Party of any term, provision or condition of, this Agreement shall
not constitute a waiver thereof and shall not preclude such Party from thereafter
exercising that or any other right, or from thereafter objecting to that or any prior
or subsequent breach of the same or any other term, provision or condition of the
Agreement. Any consent granted pursuant to this Agreement shall be in writing,
executed by the person authorized by the consenting Party to receive notices, and shall
be a consent only to the transaction, act or agreement specifically referred to in the
consent and not to other similar transactions, acts or agreements.

	14.	 	ENTIRE AGREEMENT; AMENDMENTS

	 	14.1	 	This Agreement constitutes the entire understanding among the Parties hereto
with respect to the subject matter contained herein and supersedes any prior
understandings and agreements among them respecting such subject matter. This
Agreement may be amended, supplemented, and terminated only by a written instrument
duly executed by the Parties. Each of the Parties recognizes that the liability and
remedy provisions of this Agreement are material to the Agreement and have been
bargained for and are reflected in the mutual promises and agreements set forth in the
Agreement.

	15.	 	GOVERNING LAW

	 	15.1	 	This Agreement and any disputes, claims, or actions related thereto shall be
governed by and construed in accordance with Clauses 8.7 through 8.11 of the
Collaboration Agreement.

	16.	 	CONTINUED PERFORMANCE

	 	16.1	 	The Parties agree to continue performing under the Agreement in accordance
with its provisions, pending the final resolution of any dispute.

	17.	 	COUNTERPARTS

	 	17.1	 	This Agreement may be executed in two or more counterparts, each of which
shall be deemed original, but such counterparts shall together constitute one and the
same Agreement.

IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed by their duly

authorized officers on the date first above written.

EPICEPT CORPORATION

By:

Name:

Title:

EPICEPT GMBH

By:

Name:

Title:

MEDA AB

By:

Name:

Title:

MEDA PHARMA GMBH & CO. KG

By:

Name:

Title:EX-10.4

CONSENT AGREEMENT

THIS CONSENT AGREEMENT (this “Agreement”) is dated as of June 18, 2012, by and among EPICEPT
CORPORATION, a Delaware corporation (“EpiCept”), MAXIM PHARMACEUTICALS INC., a Delaware corporation
(“Maxim”), CYTOVIA, INC., a Delaware corporation (“Cytovia”, and collectively with EpiCept and
Maxim, the “Borrowers”), MIDCAP FUNDING III, LLC, a Delaware limited liability company in its
capacity as agent (“Agent”) for the lenders under the Loan Agreement (as defined below)
(“Lenders”), and the Lenders.

W I T N E S S E T H:

WHEREAS, Borrowers, Lenders and Agent are parties to that certain Loan and Security Agreement,
dated as of May 27, 2011 (as amended, restated, supplemented or otherwise modified from time to
time, the “Loan Agreement”; capitalized terms used herein have the meanings given to them in the
Loan Agreement except as otherwise expressly defined herein), pursuant to which Lenders have agreed
to provide to Borrowers certain loans and other extensions of credit in accordance with the terms
and conditions thereof; and

WHEREAS, Borrowers have requested that Agent and Lenders consent to the sales of (i) the
“Purchased Assets” (as defined in the Meda AB APA (defined below)) (the “Meda AB Purchased Assets”)
to Meda AB and (ii) the “Purchased Assets” (as defined in the Meda Pharma SARL APA (as defined
below)) (the “Meda Pharma SARL Purchased Assets”; and together with the Meda AB Purchased Assets,
the “Purchased Assets”)) to Meda Pharma SARL (together with Meda AB, the “Purchasers”) (the sales
of the Purchased Assets, the “Meda Transaction”), pursuant to the terms and conditions of (i) in
the case of the Meda AB Purchased Assets, that certain Asset Purchase Agreement, dated as of June
18, 2012, by and among the Meda AB, EpiCept and EpiCept GmbH, in the form attached to the Release
Letter (defined below) as Exhibit A (in such form, the “Meda AB APA”), (ii) in the case of
the Meda SARL Purchased Assets, that certain Asset Purchase Agreement, dated as of June 18, 2012,
by and among Meda Pharma SARL, EpiCept and Maxim, in the form attached to the Release Letter
(defined below) as Exhibit B (in such form, the “Meda Pharma SARL APA”; and together with
the Meda AB APA, collectively, the “Meda APAs”), (iii) that certain Cooperation Agreement, dated as
of June 18, 2012, by and among EpiCept, EpiCept GmbH and Meda AB, in the form attached to the
Release Letter (defined below) as Exhibit C (the “Meda Cooperation Agreement”), and (iv)
each of the other agreements or documents entered into in connection with the Meda APAs (together
with the Meda APAs and the Meda Cooperation Agreement, collectively, the “Meda Transaction
Documents”), and Agent and Lenders are willing to grant such consent subject to, and in accordance
with, the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the premises, the covenants and agreements contained
herein, and other good and valuable consideration, the receipt and adequacy of which are hereby
acknowledged, Borrowers, Lenders and Agent hereby agree as follows:

1. Acknowledgment of Obligations. Borrowers hereby acknowledge, confirm and agree
that all Term Loans made prior to the date hereof, together with interest accrued and accruing
thereon, and fees, costs, expenses and other charges owing by Borrowers to Agent and Lenders under
the Loan Agreement and the other Loan Documents, are unconditionally owing by Borrowers to Agent
and Lenders, without offset, defense or counterclaim of any kind, nature or description whatsoever
except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other
similar laws relating to or affecting creditor’s rights generally.

2. Consent to Meda Transaction. Notwithstanding anything to the contrary in the Loan
Agreement and/or any of the other Loan Documents and subject to the terms and conditions of this
Agreement, including, without limitation, Section 9 of this Agreement, Agent and Lenders
hereby consent to the Meda Transaction and agree that the Meda Transaction shall be a Transfer
permitted under the Loan Agreement only so long as: (a) the purchase price of the Meda Transaction
is no less than $2,300,000.00; (b) $832,258.05 of the proceeds payable to Epicept and Maxim
pursuant to the Meda Transaction (the “Payoff Amount”) shall be paid by or on behalf of Borrowers
to Agent, as a partial prepayment to the Lenders of principal of the Term Loans (which partial
prepayment shall not give rise to any Prepayment Fee); (c) the Meda Transaction is consummated on
or prior to June 29, 2012 and pursuant to the Meda Transaction Documents (i) in the case of the
Meda AB APA, the Meda Pharma SARL APA and the Meda Cooperation Agreement, in substantially the
forms attached to the Release Letter as Exhibits A through C, respectively and (ii)
in the case of the other Meda Transaction Documents, in substantially the forms provided to the
Agent prior to the Amendment Effective Date and, with respect to all Meda Transaction Documents,
without giving effect to any amendments, supplements or other modifications thereto that have been
agreed or entered into prior to the consummation of the Meda Transaction; and (d) the only assets
transferred or sold by the Borrower in connection with the Meda Transaction are the Purchased
Assets (as defined in the Meda APAs, respectively, without giving effect to any amendments,
supplements or other modifications thereto).

3. Release of Security Interest in Purchased Assets. Upon the effectiveness of this
Agreement in accordance with its terms, Agent agrees to deliver to the Borrower and Purchasers the
release letter in substantially the form attached hereto as Exhibit A.

4. Updated Schedule 5.2(d) to Loan Agreement. Upon the consummation of the Meda
Transaction upon the terms and conditions of this Agreement and the Meda APAs, Borrower shall be
deemed to have delivered an updated Schedule 5.2(d) to the Loan in the form attached hereto as
Exhibit B, which shall replace the existing Schedule 5.2(d).

5. Updated Schedules to Intellectual Property Security Agreement. Upon the
consummation of the Meda Transaction upon the terms and conditions of this Agreement and the Meda
APAs, Borrower shall be deemed to have delivered updated Schedules B and C to the IP Agreement in
the forms attached hereto as Exhibit C, which shall replace the existing Schedules B and C,
respectively.

6. No Other Amendments or Consents. Except for the consent and amendments set forth
and referred to in Sections 2, 3, 4, and 5 above, the Loan
Agreement and the other Loan Documents shall remain unchanged and in full force and effect.
Nothing in this Agreement is intended, or shall be construed, to constitute a novation or an accord
and satisfaction of any of Borrowers’ Obligations or to modify, affect or impair the perfection or
continuity of Agent’s security interests in, security titles to or other liens, for the benefit of
itself and the Lenders, on any Collateral for the Obligations.

7. Representations and Warranties. To induce Agent and Lenders to enter into this
Agreement, each Borrower does hereby warrant, represent and covenant to Agent and Lenders that (i)
each representation or warranty of Borrowers set forth in the Loan Agreement is hereby restated and
reaffirmed as true and correct in all material respects on and as of the date hereof as if such
representation or warranty were made on and as of the date hereof (except to the extent that any
such representation or warranty expressly relates to a prior specific date or period), (ii) no
Default or Event of Default has occurred and is continuing as of the date hereof, or, after giving
effect to this Agreement, would result from the Meda Transaction, and (iii) each Borrower has the
power and is duly authorized to enter into, deliver and perform this Agreement and this Agreement
is the legal, valid and binding obligation of each Borrower enforceable against such Borrower in
accordance with its terms.

8. Borrower Covenant. Borrowers agree not to amend the Meda APA or any of the Meda
Transaction Documents without the prior written consent of Agent.

9. Condition Precedent to Effectiveness of this Agreement. This Agreement shall
become effective as of the date (the “Amendment Effective Date”) upon which Agent shall have
received one or more counterparts of this Agreement duly executed and delivered by Borrowers, Agent
and Lenders, in form and substance satisfactory to Agent and Lenders.

10. Release.

(a) In consideration of the agreements of Agent and Lenders contained herein and for other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each
Borrower, on behalf of itself and its successors, assigns, and other legal representatives, hereby
absolutely, unconditionally and irrevocably releases, remises and forever discharges Agent and each
Lender and their respective successors and assigns, and their respective present and former
shareholders, affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys,
employees, agents and other representatives (Agent, Lenders and all such other persons being
hereinafter referred to collectively as the “Releasees” and individually as a “Releasee”), of and
from all demands, actions, causes of action, suits, covenants, contracts, controversies,
agreements, promises, sums of money, accounts, bills, reckonings, damages and any and all other
claims, counterclaims, defenses, rights of set-off, demands and liabilities whatsoever
(individually, a “Claim” and collectively, “Claims”) of every name and nature, known or unknown,
suspected or unsuspected, both at law and in equity, which any Borrower or any of its successors,
assigns, or other legal representatives may now or hereafter own, hold, have or claim to have
against the Releasees or any of them for, upon, or by reason of any circumstance, action, cause or
thing whatsoever which arises at any time on or prior to the Amendment Effective Date, including,
without limitation, for or on account of, or in relation to, or in any way in connection with the
Loan Agreement or any of the other Loan Documents or transactions thereunder or related thereto.

(b) Each Borrower understands, acknowledges and agrees that its release set forth above may be
pleaded as a full and complete defense and may be used as a basis for an injunction against any
action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the
provisions of such release.

(c) Each Borrower agrees that no fact, event, circumstance, evidence or transaction which
could now be asserted or which may hereafter be discovered shall affect in any manner the final,
absolute and unconditional nature of the release set forth above.

11. Covenant Not To Sue. Each Borrower, on behalf of itself and its successors,
assigns, and other legal representatives, hereby absolutely, unconditionally and irrevocably,
covenants and agrees with and in favor of each Releasee that it will not sue (at law, in equity, in
any regulatory proceeding or otherwise) any Releasee on the basis of any Claim released, remised
and discharged by Borrowers pursuant to Section 10 above. If any Borrower or any of its
successors, assigns or other legal representatives violates the foregoing covenant, Borrowers, for
themselves and their successors, assigns and legal representatives, agree to pay, in addition to
such other damages as any Releasee may sustain as a result of such violation, all attorneys’ fees
and costs incurred by any Releasee as a result of such violation.

12. Advice of Counsel. Each of the parties represents to each other party hereto that
it has discussed this Agreement with its counsel.

13. Severability of Provisions. In case any provision of or obligation under this
Agreement shall be invalid, illegal or unenforceable in any applicable jurisdiction, the validity,
legality and enforceability of the remaining provisions or obligations, or of such provision or
obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

14. Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be deemed to be an original and all of which when taken together shall constitute one
and the same instrument.

15. GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE INTERNAL LAWS OF THE STATE OF MARYLAND APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH
STATE WITHOUT REGARD TO THE PRINCIPLES THEREOF REGARDING CONFLICTS OF LAWS.

16. Entire Agreement. The Loan Agreement and the other Loan Documents as and when
modified through this Agreement embody the entire agreement between the parties hereto relating to
the subject matter thereof and supersede all prior agreements, representations and understandings,
if any, relating to the subject matter thereof.

17. No Strict Construction, Etc. The parties hereto have participated jointly in the
negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly by the parties
hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by
virtue of the authorship of any provisions of this Agreement. Time is of the essence for this
Agreement.

18. Costs and Expenses. Each Borrower absolutely and unconditionally agrees to pay or
reimburse upon demand for all reasonable fees, costs and expenses incurred by Agent and the Lenders
that are Lenders on the Closing Date in connection with the preparation, negotiation, execution and
delivery of this Agreement and any other Loan Documents or other agreements prepared, negotiated,
executed or delivered in connection with this Agreement or transactions contemplated hereby.

[Remainder of page intentionally blank; signature pages follow.]

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the day and year specified at the beginning hereof.

BORROWERS:

EPICEPT CORPORATION

By:       

Name:       

Title:       

MAXIM PHARMACEUTICALS INC.

By:       

Name:       

Title:       

CYTOVIA, INC.

By:       

Name:       

Title:       

AGENT AND LENDER:

MIDCAP FUNDING III, LLC

By:       

Name:       

Title: Authorized Signatory

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