Document:

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                                                                   EXHIBIT 10.26

                       MANUFACTURING AND SUPPLY AGREEMENT

                              PATHEON ITALIA S.P.A.

                                        &

                   SCICLONE PHARMACEUTICALS INTERNATIONAL LTD.

                                November 1, 2002

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                                TABLE OF CONTENTS

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                                    ARTICLE 1

                                 INTERPRETATION

1.1      Definitions............................................................     1
1.2      [****].................................................................     5
1.3      Sections and Headings..................................................     5
1.4      Singular Terms.........................................................     5
1.5      Schedules..............................................................     5

                                    ARTICLE 2

                           PURPOSE OF THIS AGREEMENT                                 6

                                    ARTICLE 3

                              PATHEON'S OBLIGATIONS

3.1      Technical Transfer Activities..........................................     6
3.2      Standard of Performance................................................     7
3.3      Conversion of API and Components ......................................     7

                                    ARTICLE 4

                             SCICLONE'S OBLIGATIONS

4.1      Conformation of SciClone's Specifications..............................    11
4.2      SciClone Supplies......................................................    11
4.3      Supply Requirements Commitments........................................    11
4.4      Order Campaigns........................................................    11

                                    ARTICLE 5

                                      PRICE
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5.1      Price..................................................................    11
5.2      [****].................................................................    12
5.3      Adjustments Due to Technical Changes...................................    12

                                    ARTICLE 6

                       ORDERS, DELIVERY, INVOICING,PAYMENT
                            AND PRODUCT DEFICIENCIES

6.1      [****].................................................................    13
6.2      Orders and Forecasts...................................................    13
6.3      Firm Orders............................................................    14
6.4      Reliance by Patheon....................................................    14
6.5      [****].................................................................    14
6.6      Shipments..............................................................    14
6.7      Invoices and Payment ..................................................    15
6.8      Product Deficiencies...................................................    15

                                    ARTICLE 7

                                  CO-OPERATION

7.1      Quarterly Review.......................................................    16
7.2      Product Recalls and Returns ...........................................    16
7.3      Customer Questions and Complaints......................................    17
7.4      Governmental Agencies..................................................    17
7.5      Records and Accounting by Patheon......................................    17
7.6      Access.................................................................    17
7.7      cGMP compliance and QA Audits..........................................    18

                                    ARTICLE 8

                          TERM, RENEWAL AND TERMINATION

8.1      Term...................................................................    18
8.2      Termination for Cause..................................................    18
8.3      Product Discontinuation ...............................................    19
8.4      Obligations on Termination.............................................    20
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                                    ARTICLE 9

                         REPRESENTATIONS AND WARRANTIES

9.1      Authority..............................................................    20
9.2      Non-Infringement ......................................................    20
9.3      Patheon's Warranty.....................................................    21
9.4      SciClone's Warranty ...................................................    21
9.5      Compliance with Law....................................................    21

                                   ARTICLE 10

                             LIABILITY AND INDEMNITY

10.1     Consequential Damages..................................................    21
10.2     Limitation of Liability ...............................................    21
10.3     Patheon................................................................    22
10.4     SciClone...............................................................    22
10.5     Reasonable Allocation of Risk..........................................    23

                                   ARTICLE 11

                                 CONFIDENTIALITY

11.1     Disclosure.............................................................    23
11.2     Use of Information.....................................................    23
11.3     Exceptions.............................................................    23
11.4     Designation of Confidentiality.........................................    23

                                   ARTICLE 12

                               DISPUTE RESOLUTION

12.1     Disputes...............................................................    24
12.2     Arbitration............................................................    24

                                   ARTICLE 13

                                  MISCELLANEOUS

13.1     Trademarks.............................................................    24
13.2     Insurance..............................................................    24
13.3     Independent Contractors................................................    25
13.4     No Waiver..............................................................    25
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13.5     Assignment and Subcontract.............................................    25
13.6     Force Majeure..........................................................    25
13.7     Additional Product.....................................................    26
13.8     Notices................................................................    26
13.9     Entire Agreement.......................................................    26
1310     Execution in Counterparts..............................................    27
13.11    Governing Law..........................................................    27
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                       MANUFACTURING AND SUPPLY AGREEMENT

                  THIS AGREEMENT made as of the first day of November, 2002 (the
"DATE OF EXECUTION")

B E T W E E N:

                          PATHEON ITALIA S.P.A.,
                          a corporation existing under the laws of ITALY,

                          (hereinafter referred to as "PATHEON"),

                                     - and -

                          SCICLONE PHARMACEUTICALS INTERNATIONAL LTD.
                          a corporation existing under the laws of British West
                          Indies,

                          (hereinafter referred to as "SCICLONE").

                  THIS AGREEMENT WITNESSES THAT in consideration of the rights
conferred and the obligations assumed herein, and for other good and valuable
consideration (the receipt and sufficiency of which are acknowledged by each
party), and intending to be legally bound the parties agree as follows:

                                    ARTICLE 1

                                 INTERPRETATION

1.1               DEFINITIONS. The following terms shall, unless the context
otherwise requires, have the respective meanings set out below and grammatical
variations of such terms shall have corresponding meanings:

         "ACTIVE PHARMACEUTICAL INGREDIENT" OR "API" is "thymalfasin" or
         "thymosin alpha-1" or "TA-1" drug substance and shall mean the compound
         as better described in Schedule A (Appendix II), hereto and that is
         supplied by SciClone to Patheon for the manufacture of API Vials as
         defined below;

         "ACTIVE PHARMACEUTICAL INGREDIENT VALUE" OR "API VALUE" means the value
         to be attributed to the Active Pharmaceutical Ingredient for certain
         purposes of this Agreement, calculated in accordance with Schedule C
         hereto;

         "ACTIVE PHARMACEUTICAL INGREDIENT BULK SPECIFICATION" OR "API BULK
         SPECIFICATION" shall mean the specification for bulk Active
         Pharmaceutical Ingredient as set forth in Schedule A hereto;

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         "AFFILIATE" means:

         (a)      any person, firm or corporation which, directly or indirectly,
                  through one or more intermediaries, controls, is controlled
                  by, or is under common control with, another party. "Control"
                  means the legal or beneficial ownership of 50% or more of the
                  voting or equity interests or the power or right to direct the
                  management and affairs of the business (including acting as
                  the general partner of a limited partnership)

         (b)      a business entity which is owned by a party to this Agreement,
                  either directly or indirectly, by stock ownership or
                  otherwise; or

         (c)      a business entity, the majority ownership of which is directly
                  or indirectly common to the majority ownership of a party to
                  this Agreement;

         "BUSINESS DAY" means a day other than a Saturday, Sunday or a day that
         is a statutory holiday in either [****], or in California, The United
         States of America;

         "CGMPS" means current Good Manufacturing Practices published by the
         European Commission in the "Guide to good manufacturing practice for
         medicinal products"("The rules governing medicinal products for human
         use", IV Volume), as specified by the competent Italian authorities;

         "COMMENCEMENT DATE" means the date of commencement of the contracted
         manufacturing activities by Patheon;

         "COMPONENTS" means, collectively all the raw materials, excipients and
         ingredients, all primary, secondary and outer packaging components
         (including ampoule labels, product inserts and other labelling for the
         Products), required to be used in order to produce the Products in
         accordance with the Specifications, other than the following two items:
         API and API vial labels that shall both be supplied by SciClone;

         "CONFIDENTIAL INFORMATION" means a party's technology, data, know-how
         or information whether written or oral, technical or non-technical,
         including financial statements, reports, pricing, trade secrets, secret
         processes, formulas, customer data (including customer lists), and the
         like, that is disclosed to the other party;

         "DEFICIENCY NOTICE" shall have the meaning ascribed thereto in Section
         6.8 (a);

         "DELIVERY DATE" shall mean the date set forth in the relevant Firm
         Order by which Patheon must supply SciClone with Product;

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         "DISPUTE" has the meaning specified in Section 12.1;

         "FACILITY" means the manufacturing facility of Patheon located at
         [****], where manufacturing of the Products under this Agreement shall
         take place, as set forth in the GMP Technical Agreement;

         "FIRM ORDERS" has the meaning specified in Subsection 6.2(b);

         "GMP TECHNICAL AGREEMENT" means the standard agreement required under
         the laws of the European Union (Directive 91/356/EEC) to be entered
         into between Patheon and SciClone in respect of each Product, each such
         agreement to be attached hereto in Schedule A;

         "INITIAL TERM" has the meaning specified in Section 8.1

         "INVENTORY" means all inventories of Components and Product
         work-in-process produced or held by Patheon in connection with the
         manufacture of the Products in accordance with the Specifications and,
         specifically, excludes API or API vial labels.

         "LABELLING" means all manufacturing operations related to the affixing
         of labels to Products

         "MA" means Marketing Authorization pursuant to Directive 65/65 EEC (as
         amended by the following applicable provisions including Directive
         2001/83/EU) or any implementation of it under the laws of a relevant
         Member State, which for the Products means the authorization referred
         to in Schedule A;

         "ML" means Manufacturing Licence pursuant to Directive 75/319 EEC (as
         amended by the following applicable provisions including Directive
         2001/83/EU) or any implementation of it under the laws of a relevant
         Member State, which for this Agreement means the authorization referred
         to in Schedule A;

         "MANUFACTURING REQUIREMENTS" has the meaning specified in Section 3.2;

         "PATHEON" shall mean Patheon Italia S.p.A., a corporation existing
         under the laws of [****] with its registered office at [****];

         "PRODUCTS" shall mean the four types of Product that are to be
         considered for this Agreement as better described below:

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                  -        "API VIALS": bulk unlabelled or labelled vials
                  containing API in its formulation as described in detail in
                  the relevant Specifications and to be manufactured in
                  accordance with the cGMPs and any other Manufacturing
                  Requirements;

                  -        "PLACEBO VIALS": vials NOT containing API as
                  described in detail in the relevant Specifications and to be
                  manufactured in accordance with the cGMPs and any other
                  Manufacturing Requirements;

                  -        "DILUENT WFI AMPOULES": bulk unlabelled or labelled
                  ampoules filled with water (to be used for reconstitution of
                  the API vial) as described in detail in the relevant
                  Specifications and to be manufactured in accordance with the
                  cGMPs and any other Manufacturing Requirements.

                  -        "PACKED PRODUCT": two labelled API vials packaged
                  together with two labelled Diluent WFI Ampoules in a thermo
                  moulded polypropylene tray and, together with a Patient
                  Information Leaflet, inserted into a carton, as described in
                  detail in the relevant Specifications and in the cGMPs and any
                  other Manufacturing Requirements;

         "SCICLONE" means SciClone Pharmaceuticals International Ltd., P.O. Box
         219GT, Strathvale House, North Church Street, George Town, Grand
         Cayman, Cayman Islands, British West Indies;

         "SCICLONE'S PRODUCT SPECIFICATIONS" OR "SPECIFICATIONS" means the
         Technical Manufacturing, Release and relevant Regulatory files and
         information, for each Product which contain documents relating to such
         Products, including, without limitation:

         (a)      a detailed description for each Product, including its
                  physical and chemical characteristics and stability;

         (b)      product manufacturing and packaging instructions;

         (c)      product shipping and storage requirements;

         (d)      protocols for validating the processes and equipment to
                  manufacture the Products;

         (e)      quality control and quality assurance procedures and
                  analytical test methods for sampling, testing, documenting and
                  releasing: API, Components, in-process control and finished
                  Product;

         (f)      procedures and analytical test methods for testing the
                  stability of the Product;

         (g)      procedures and analytical test methods for cleaning of the
                  Product;

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         (h)      all environmental, health and safety information relating to
                  the Product including material safety data sheets, incident
                  reports, risk analyses, health concerns, preventative measures
                  and procedures for waste disposal; and

         (i)      any other technical information necessary to carry out the
                  contracted operations correctly in accordance with the
                  Marketing Authorization and any other legal requirements,

         all as updated, amended and revised from time to time by SciClone in
         accordance with the terms of this Agreement;

         "TERRITORY" means [****]

         "THIRD PARTY RIGHTS" means the Intellectual Property of any third
         party; and

         "YEAR" means the twelve-month period commencing, in the case of the
         first Year of this Agreement, on the date of execution of this
         Agreement, and thereafter commencing upon completion of the immediately
         preceding Year.

1.2               [****]

1.3               SECTIONS AND HEADINGS. The division of this Agreement into
Articles, sections, subsections and Schedules and the insertion of headings are
for convenience of reference only and shall not affect the interpretation of
this Agreement. Unless otherwise indicated, any reference in this Agreement to a
Section or Schedule refers to the specified Section or Schedule to this
Agreement. In this Agreement, the terms "THIS AGREEMENT", "HEREOF", "HEREIN",
"HEREUNDER" and similar expressions refer to this Agreement and not to any
particular part, Section, Schedule or the provision hereof.

1.4               SINGULAR TERMS. Except as otherwise expressly provided herein
or unless the context otherwise requires, all references to the singular shall
include the plural and vice versa.

1.5               SCHEDULES. The following Schedules are attached to,
incorporated in and form part of this Agreement:

         Schedule A   -   GMP Technical Agreement

                          Appendix I                Products and Specifications.

                          Appendix II               Component Specifications.

                          Appendix III              Manufacturing Requirements -
                                                    All Manufacturing Procedures
                                                    and Instructions [****]

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                          Appendix IV               Lot Numbering, Expiration
                                                    Dates and Variable Data
                                                    System.

                          Appendix V                Quality Control
                                                    Specifications and Quality
                                                    Control Documentation [****]

                          Appendix VI               Instructions for Packaging
                                                    [****] and Shipment

                          Appendix VII              Product Release Protocol and
                                                    Retained Sample
                                                    Requirements.

                          Appendix VIII             Placebo Specification

         Schedule B   -   Price Lists for Products, Technology Transfer, Capital
                          Equipment and other Services

         Schedule C   -   Agreed Value of Active Pharmaceutical Ingredient

         Schedule D   -   [****]

         Schedule E   -   [****]

                                    ARTICLE 2

                            PURPOSE OF THIS AGREEMENT

Patheon shall toll manufacture and supply to SciClone the Products listed in
Schedule A (Appendix I) hereto for sale in the Territory at the Prices as
defined in Section 5.1 below and pursuant to all terms and conditions of this
Agreement. Subject to Section 6.1, SciClone shall purchase and Patheon shall
supply such quantities of Products as may be set forth in Firm Orders placed by
SciClone and accepted by Patheon under this Agreement.

At least 45 days prior to the commencement of the commercial manufacture of the
Product, the Parties shall agree in writing, in an "Addendum" to be attached
hereto, the countries where SciClone intends to sell and distribute the Product.
Accordingly, for the purposes of this Agreement, the Territory referred to in
Section 1.1 shall include the countries as set forth in the said Addendum and
any other countries which shall be agreed in writing between the Parties from
time to time during the term of this Agreement.

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                                    ARTICLE 3

                              PATHEON'S OBLIGATIONS

3.1               TECHNICAL TRANSFER ACTIVITIES: Prior to the commencement of
commercial manufacture of the Product, Patheon shall perform the technical
transfer activities related to each Product as listed in and according to
Schedule B hereto (the "TECHNICAL TRANSFER ACTIVITIES").

3.2               STANDARD OF PERFORMANCE. Patheon shall manufacture and supply
to SciClone the Products in accordance with (i) the Specifications; (ii) any
other terms and conditions provided in the GMP Technical Agreement; (iii) the
conditions provided under the M.A. and the M.L., the cGMPs and any other
applicable legal requirements as specified by the competent Public Authorities
(hereinafter collectively the "MANUFACTURING REQUIREMENTS").

3.3               CONVERSION OF API AND COMPONENTS.  Patheon shall carry out the
following activities:

         (a)      Patheon shall convert API and Components into Products;

         (b)      Patheon shall, at its expense, purchase from third party
                  suppliers all Components (other than those supplied by
                  SciClone) required for the manufacture of Products, unless
                  such purchase is expressly requested and prevented to do so by
                  SciClone. All Components shall meet the relevant
                  Specifications as described in Schedule A, as amended or
                  supplemented from time to time. Patheon must test all
                  Components in accordance with quality assurance procedures
                  provided by SciClone in the Specifications.

         (C)      (i)      Patheon shall inspect and check API delivered by
                           SciClone, or by an agent of SciClone, in accordance
                           with the required Specifications as set down below
                           within 60 days following receipt at the Facility. In
                           the event that any API does not meet the API
                           Specification after testing in accordance with the
                           relevant Specifications, SciClone shall duly deliver
                           replacement API to Patheon at no additional cost to
                           Patheon. Upon receipt of API at Patheon, Patheon
                           shall analyze a sample of the API for:

                           (A)      Identity [****];

                           (B)      Purity [****]; and

                           (C)      Moisture content [****].

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                  (ii)     If the API sample fails to meet the Specifications,
                           Patheon shall not use the corresponding batch of API
                           but will immediately report the result to SciClone.
                           Patheon and SciClone shall promptly confer to discuss
                           the discrepancy and determine whether the material
                           shall be retested or replaced or what other action to
                           take.

                  (iii)    After SciClone and Patheon have determined that API
                           meets the API Bulk Specification pursuant to the
                           relevant Specifications, Patheon shall bear the risks
                           of loss for the API to a maximum of [****] of any API
                           batch loss as calculated using the [****], including
                           without limitation loss due to improper Processing,
                           inadequate storage and theft. In any event, such API
                           loss coverage by Patheon shall be capped at a maximum
                           of [****] per Year.

         (d)      For the manufacture of API Vials, Patheon shall use API
                  supplied by SciClone. The quantity of API shall be 1.68 mg per
                  ml in formulation.

         (e)      Patheon will be responsible for proper storage and handling of
                  API, Components, work in process and Products in accordance
                  with the relevant Specifications set forth in Schedule A.

         (f)      Active Material Yield.

                  Patheon shall provide SciClone with a [****] inventory report
                  and reconciliation of the API held by Patheon, which shall
                  contain the following information for any [****]:

                  QUANTITY RECEIVED: The total quantity of API received at the
                  Facility during [****].

                  QUANTITY DISPENSED: The total quantity of API dispensed at the
                  Facility during [****]. The Quantity Dispensed is calculated
                  as [****].

                  QUANTITY CONVERTED: The total amount of API contained in the
                  Products produced with the Quantity Dispensed, delivered by
                  Patheon, and not rejected as deficient Product pursuant to
                  Section 6.8(c) or 7.2(c).

                  At the end of any Year, the "ACTUAL ANNUAL YIELD" or "AAY" at
                  the Facility in such Year is [****] and which is calculated as
                  follows:

                                     [****]

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                  After Patheon has produced a minimum of [****] of Product and
                  has produced batches for at least [****] at the Facility
                  pursuant to this Agreement, the Parties will mutually agree on
                  the target yield in respect of such Product at the Facility
                  (each, a "TARGET YIELD"). Thereafter, Patheon shall strive to
                  maintain Actual Annual Yield levels for each Product above the
                  applicable Target Yield. If the Actual Annual Yield falls more
                  than [****] below the respective Target Yield in a Year,
                  Patheon shall reimburse SciClone for the cost of the shortfall
                  based on the following calculation:

                  [****]

                  In any event, in accordance with Section 10.2 below, such
                  reimbursement from Patheon to SciClone shall not exceed a
                  yearly amount of [****] of the overall API Value for Product
                  damaged and/or lost.

         (g)      Patheon shall [****].

         (h)      Quality Control and Quality Assurance. Patheon shall perform
                  the quality control and quality assurance testing as specified
                  in the GMP Technical Agreement and, in any event, as required
                  by any applicable laws to ensure that Patheon has manufactured
                  the Products in accordance with Manufacturing Requirements and
                  Specifications. Each time Patheon ships Products to SciClone,
                  it shall provide SciClone with a certificate of analysis that
                  sets out the test results for each batch of Products and that
                  certifies that such batch has been evaluated by Patheon's
                  Quality Control/Quality Assurance department and that the
                  Products comply with the Manufacturing Requirements and
                  Specifications;

         (i)      Product Specifications, Testing and Release:

                           (A)      SciClone and Patheon acknowledge that the
                                    Specifications and testing procedures set
                                    forth in Schedule A may need to be changed
                                    as the Parties gain experience with the
                                    manufacture and testing of Product. Any such
                                    changes must be agreed by the Parties in
                                    writing.

                           (B)      SciClone shall qualify Patheon for Product
                                    Release to market according to SciClone's
                                    protocol as set forth in Schedule A
                                    -(Appendix VII).

                           (C)      Any Out of Specification (OOS) results from
                                    the testing of Product must be investigated
                                    and documented by Patheon. Patheon will

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                                    notify SciClone immediately of such results
                                    and investigations and both Patheon and
                                    SciClone will confer and agree as to what is
                                    the best course of action to take.

                           (D)      For each batch of Product shipped Patheon
                                    shall supply to SciClone a copy of the
                                    [****]. All courier costs associated with
                                    sending of such documents shall be on the
                                    account of [****].

                           (E)      Future modifications may be made to [****]
                                    by [****]. SciClone and Patheon shall
                                    negotiate the cost and or implications of
                                    implementing any such modifications.

         (l)      Patheon shall supply to SciClone a [****]. Such [****] shall
                  be obtained by [****] from the normal local regulatory
                  authorities and costs associated with obtaining and sending
                  such documents will be at [****] expense.

         (m)      [****] Testing. [****].

         (n)      Dedicated Equipment: All dedicated processing equipment [****]
                  as indicated in Schedule B, purchased at [****] cost, shall be
                  dedicated, for [****], to the manufacture of Product for
                  SciClone and shall be maintained (ordinary maintenance) by
                  Patheon in good working order for its intended use, at [****]
                  responsibility. In case that any extraordinary maintenance is
                  required, the Parties shall discuss in good faith the most
                  appropriate course of action. All such dedicated equipment
                  shall remain the property of SciClone and shall be returned to
                  SciClone upon termination of this Agreement.

         (o)      Packaging. Patheon shall supply approximately [****] of the
                  Products as [****] to SciClone and Patheon shall also carry
                  out the packaging of the remaining [****] of the Products for
                  the market of [****] as set out in the Specifications. In
                  addition, Patheon shall make arrangements for and implement
                  [****]. [****] shall be affixed on the Products and on the
                  shipping carton of each Product as outlined in the
                  Specifications and as required by the cGMPs. The SciClone
                  requirements to be used by Patheon for [****] is detailed in
                  Schedule A (Appendix IV) hereto. Subject to Section 5.3 below,
                  [****] make changes to labels, product inserts and other
                  packaging for the Products, which changes shall be submitted
                  [****] to all applicable governmental agencies and other third
                  parties responsible for the approval of the Products. [****]
                  shall not appear on the label nor anywhere else on the
                  packaging, inserts or on Products unless required by a
                  governmental authority or applicable laws or regulations

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         (p)      Packaging Artwork: Where Patheon is required to originate or
                  change artwork for the supply of any printed packaging
                  components such artwork shall be supplied by SciClone to
                  Patheon in an agreed format and the cost associated with the
                  set up and origination [****] Patheon costs as set forth in
                  Schedule B.

         (q)      During the term of this Agreement, the Parties may decide to
                  that it is in each Party's best interest to extend the
                  Territory to include [****]. In such case, the Parties shall
                  determine in good faith the consequences of the manufacture of
                  the Product for [****]; they shall negotiate in good faith all
                  relevant terms of the Agreement with due consideration to the
                  effect of such expansion of the Territory; and they shall
                  initiate the necessary steps to [****].

                                    ARTICLE 4

                             SCICLONE'S OBLIGATIONS

4.1               CONFORMATION OF SCICLONE'S SPECIFICATIONS: On Patheon's
completion of the Technical Transfer Activities and subject to the provisions of
Section 5.3, SciClone will update and confirm SciClone's Specifications with
respect to the particular Product, to the extent required to reflect changes to
manufacturing and validation methods.

4.2               SCICLONE SUPPLIES. In order to facilitate the manufacture of
the Products by Patheon, SciClone shall, at its sole cost and expense, deliver
the API and the API vial labels to Patheon in the quantities specified on
Schedule A (Appendix I) hereto, which API shall be held by Patheon on behalf of
SciClone on the terms and conditions herein contained. All materials delivered
by SciClone in anticipation of Product production must arrive at the Facility by
at least the same date as the receipt of any related Firm Orders for Product.
The parties acknowledge and agree that title to the API shall at all times
belong to and remain the property of SciClone. Patheon agrees that any API
received by it shall only be used by Patheon to manufacture and test the
Products of SciClone.

4.3               [****]

4.4               [****]

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                                    ARTICLE 5

                                      PRICE

5.1               PRICE. Pursuant to the terms of this Agreement, SciClone shall
pay to Patheon for the Products the prices (the "PRICES") listed in Schedule B
hereto (such Prices being subject to adjustment in accordance the terms hereof).

The Prices for the Products listed in Schedule B are intended by the parties to
be [****]* Certain information on this page has been omitted and filed
separately with the commission. Confidential treatment has been requested with
respect to the omitted portions., subject to the amendments to such prices
provided for in this Article 5. The prices for any Products delivered pursuant
to the terms of this Agreement during any period [****] shall be determined in
accordance with Section 5.2 below. The Prices are for [****].

Technical Transfer Activities, including the performance items listed in
Schedule B, shall be charged to [****] at the costs set out therein ("TECHNICAL
TRANSFER COST"). Prior to the commencement of each Technical Transfer Activity,
Patheon shall give SciClone written notice thereof.

5.2               [****]

5.3               ADJUSTMENTS DUE TO TECHNICAL CHANGES. Amendments to the
Specifications or the GMP Technical Agreement as requested by SciClone will only
be implemented following a technical and cost review by Patheon and are subject
to SciClone and Patheon reaching agreement as to such revisions, including the
prices specified in Schedule B necessitated by any such amendment. If SciClone
and Patheon agree to such revisions including the prices, the proposed change in
Specifications shall be implemented, and the price change shall become effective
only with respect to those orders of Products that are manufactured in
accordance with the revised Specifications. [****].

Should a change in the Specifications or Manufacturing Requirements become
necessary in order to allow Patheon to guarantee the performance of the
activities in a state of the art way or to comply with new provisions or orders
of the Public Authorities, the above provisions of this Section 5.3 shall apply.

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                                    ARTICLE 6

                      ORDERS, DELIVERY, INVOICING, PAYMENT

                            AND PRODUCT DEFICIENCIES

6.1               [****]

6.2               ORDERS AND FORECASTS.  Subject to [****], SciClone shall
provide Patheon with the following:

         (a)      concurrent with the execution of this Agreement, a [****]
                  forecast of the volume of each Product that SciClone then
                  anticipates will be required to be produced and delivered to
                  SciClone during [****]. Such forecast will be updated by
                  SciClone [****] and updated forthwith upon SciClone
                  determining that the volumes for the [****] contemplated in
                  the most recent of such forecasts has changed by more than
                  [****]; and

         (b)      on or before [****], firm written orders ("FIRM ORDERS") for
                  the Products to be produced and delivered to SciClone during
                  [****] shall be delivered by [****].

6.3               FIRM ORDERS. The Firm Orders submitted to Patheon pursuant to
Section 6.2(b) shall specify SciClone's purchase order number, quantities by
Product type, monthly delivery schedule and any other elements necessary to
ensure the timely production and delivery of the Products by Patheon. The
quantities of Products ordered in such written orders shall be firm and binding
on SciClone and shall not be subject to reduction.

6.4               RELIANCE BY PATHEON. SciClone understands and acknowledges
that Patheon will rely on the Firm Orders submitted pursuant to Section 6.2(b)
in ordering the Components required to fulfill such Firm Orders. In addition,
SciClone understands that to ensure an orderly supply of such Components and to
achieve economies of scale in the costs of such Components therefore, it may be
desirable for Patheon to purchase such Components in sufficient volumes to meet
the production requirements for Products during part or all of the forecasted
periods as defined in Section 6.2(a) or to meet the production requirements of
any longer period as Patheon and SciClone may agree to. Accordingly, SciClone
agrees that purchases may be made by Patheon in respect of the Components
identified in Schedule A to satisfy the production requirements for Products for
forecasted periods identified opposite such Components, and in respect of such
other purchases to meet production requirements during such longer periods as
may be agreed to in writing from time to time by SciClone at the request of
Patheon. If such Components are not included in finished Products purchased by
SciClone within six months after the forecasted month in respect of which such
purchases have been made (or such longer period

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as the parties may agree), SciClone will pay to Patheon its costs thereof and,
in the event such Components are incorporated into Products subsequently
purchased by SciClone, SciClone will receive credit for any costs of such
Components previously paid to Patheon by SciClone.

6.5               [****]

6.6               SHIPMENTS. Deliveries of Products shall be made [****]. Such
title as Patheon has in Products and risk of loss or of damage to Products shall
remain with Patheon until Patheon delivers Products to the carrier for shipment
at the Facility at which time title and risk of loss or damage shall transfer to
SciClone. Patheon shall, in accordance with SciClone's instructions, (i) arrange
for shipping and insurance, to be paid by SciClone and (ii) at SciClone's risk
and expense, obtain any export license or other official authorization and carry
out all customs formalities necessary to export the Products. SciClone may
select the freight carrier used by Patheon to ship Products, informing Patheon
of the name thereof in reasonable advance, and may monitor Patheon's shipping
and freight sub contracting practices as they pertain to this Agreement.
Transport conditions shall be based upon SciClone's Specifications for the
transportation of the Products as set down in Schedule A (Appendix VI).

6.7               INVOICES AND PAYMENT. Except as otherwise provided in this
Agreement, Patheon shall charge SciClone for only those Products that are either
shipped to SciClone or that are requested by SciClone to be retained by Patheon
(retained samples) and shall submit to SciClone, with each shipment of Products,
an invoice covering such shipment. Each such invoice shall, to the extent
applicable, identify SciClone purchase order number, Product numbers, names and
quantities, unit price, freight charges and the total amount to be remitted by
SciClone. SciClone shall pay all such invoices within 30 (thirty) days of the
date of each invoice.

6.8               PRODUCT DEFICIENCIES.

         (a)      Inspection. SciClone shall inspect the Products manufactured
                  by Patheon upon receipt thereof and, within 45 (forty-five)
                  days, shall give Patheon written notice (a "DEFICIENCY
                  NOTICE") of all claims for Products that deviate from the
                  Specifications, cGMPs or from any other Manufacturing
                  Requirements. Should SciClone fail to provide Patheon with
                  written notice of its acceptance or rejection of the delivery
                  within 45 (forty-five) days of receipt of a delivery of
                  Products, then the delivery shall be deemed to have been
                  accepted by SciClone on the 45th (forty-fifth) day after
                  delivery. Except as set out in Section 7.2, Patheon shall have
                  no liability for any deviations for which it has not received
                  notice within such 45 (forty-five) day period.

         (b)      Determination of Deficiency. Upon receipt of a Deficiency
                  Notice, Patheon shall have 15 (fifteen) days to advise
                  SciClone by notice in writing that it disagrees with

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                  the contents of such Deficiency Notice. If SciClone and
                  Patheon fail to agree within 10 (ten) days after Patheon's
                  notice to SciClone as to whether any Products identified in
                  the Deficiency Notice deviate from the Specifications, the
                  cGMPs or from any other Manufacturing Requirements, then the
                  parties shall mutually select an independent laboratory to
                  evaluate if the Products deviate from the Specifications, the
                  cGMPs or from any other Manufacturing Requirements. Such
                  evaluation shall be binding on the parties, and if such
                  evaluation certifies that any Products deviate from the
                  Specifications, the cGMPs or from any other Manufacturing
                  Requirements, SciClone may reject those Products in the manner
                  contemplated by Section 6.8(c). If such evaluation does not so
                  certify in respect of any such Products, then SciClone shall
                  be deemed to have accepted delivery of such Products on the
                  40th (fortieth) day after delivery.

         (c)      Product Rejection. Subject to the provisions of Sections
                  6.8(a) and 10.2(b), SciClone has the right to reject and
                  return, at the expense of Patheon, any portion of any shipment
                  of Products that deviates from the Specifications, the cGMPs
                  or from any other Manufacturing Requirements, without
                  invalidating any remainder of such shipment, to the extent
                  that such deviation arises from Patheon's failure to
                  manufacture the Products in accordance with the
                  Specifications, the cGMPs or any other Manufacturing
                  Requirements.

         (d)      Shortages. Claims for shortages in the amount of Products
                  shipped by Patheon shall be dealt with as may reasonably be
                  agreed to by the parties.

                                    ARTICLE 7

                                  CO-OPERATION

7.1               QUARTERLY REVIEW. Each party shall forthwith upon execution of
this Agreement appoint one of its employees to be a relationship manager
responsible for liaison between the parties. The relationship managers shall
communicate on a regular basis to review the current status of the business
relationship and manage any issues that have arisen; and they shall meet any
time requested by either of the parties in order to examine technical and/or
commercial issues relative to the performance of this Agreement which are
material and particularly urgent.

7.2               PRODUCT RECALLS AND RETURNS.

         (a)      Product Recalls. Patheon and SciClone shall each maintain
                  records as may be necessary to permit a recall or a field
                  correction of any Products delivered to SciClone or customers
                  of SciClone, effected voluntarily or under a threat of, or a
                  directive by, any governmental agency. Each party shall give
                  notice within one Business Day by telephone (to be confirmed
                  in writing) to the Director of Quality Control / Quality
                  Assurance of the other party upon discovery that any Products
                  should be recalled or corrected, or may be required to be
                  recalled or corrected,

                                      -15-

<PAGE>

                  and each party upon receiving any such notice or upon any such
                  discovery, shall cease and desist from further shipments of
                  such Products in its possession or control until a decision
                  has been made whether a recall or some other corrective action
                  is necessary. The decision to initiate a recall or to take
                  some other corrective action, if any, shall be made and
                  implemented by SciClone. Patheon will co-operate as reasonably
                  required by SciClone, having regard to all applicable laws and
                  regulations.

         (b)      Product Returns. SciClone shall have the responsibility for
                  handling customer returns of the Products. Patheon shall
                  provide SciClone with such assistance as SciClone may
                  reasonably need to handle such returns.

         (c)      Patheon's Responsibility. To the extent that a recall or
                  return results from, or arises out of, a failure by Patheon to
                  manufacture the Products in accordance with the Manufacturing
                  Requirements, such recall or return shall be made at Patheon's
                  cost and expense, and Patheon shall use its best efforts to
                  replace the recalled or returned Products with new Products
                  within 60 (sixty) days from the date that SciClone
                  definitively notifies Patheon about the recalled or returned
                  Products, contingent upon the receipt or availability from
                  SciClone of all Active Pharmaceutical Ingredient. Subject to
                  Section 10.2(b), Patheon's cost for such API shall be limited
                  to [****] [****]

7.3               CUSTOMER QUESTIONS AND COMPLAINTS. SciClone shall have the
sole responsibility for responding to questions and complaints from SciClone's
customers. Questions or complaints received by Patheon from SciClone's customers
shall be promptly referred to SciClone. Patheon shall co-operate as reasonably
required to allow SciClone to determine the cause of and resolve any customer
questions and complaints. Such assistance shall include follow-up
investigations, including testing. In addition, within 10 days from the date of
request, Patheon shall provide SciClone with all necessary information that will
enable SciClone to respond properly to questions or complaints relating to the
Products. Subject to Section 10.2(b), unless it is determined that the cause of
any customer complaint resulted from a failure by Patheon to manufacture the
Products in accordance with the Manufacturing Requirements, all costs incurred
in respect of this Section 7.3 shall be borne by SciClone.

7.4               GOVERNMENTAL AGENCIES. Each party may communicate with any
governmental agency, including but not limited to governmental agencies
responsible for granting regulatory approval for the Products, regarding such
Products if in the opinion of that party's counsel, such communication is
necessary to comply with the terms of this Agreement or the requirements of any
law, governmental order or regulation; provided, however, that unless in the
reasonable opinion of its counsel there is a legal prohibition against doing so,
such party shall permit the

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                                      -16-

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other party to accompany and take part in any communications with the agency,
and to receive copies of all such communications from the agency.

7.5               RECORDS AND ACCOUNTING BY PATHEON. Patheon shall keep records
of the manufacture, testing and shipping of the Products, and retain samples of
such Products as are necessary to comply with manufacturing regulatory
requirements applicable to Patheon, as well as to assist with resolving product
complaints and other similar investigations. Copies of such records and samples
shall be retained for a period of five years following the date of manufacture,
or longer if required by law. SciClone is responsible for retaining samples of
the Products necessary to comply with the legal/regulatory requirements
applicable to SciClone.

SciClone may inspect the above reports and records during normal business hours
and with reasonable advance written notice, provided a Patheon representative is
present during any such inspection.

Each Party shall promptly notify the other Party of any inspections by any
governmental agency involving the Products.

7.6               ACCESS. Patheon shall provide SciClone with reasonable access
at mutually agreeable times to the Facility in which the Products are
manufactured, stored, handled or shipped in order to permit SciClone's
verification of Patheon's compliance with the terms of this Agreement and with
all applicable laws and regulations. Patheon shall also provide access to
SciClone employees and its contractors, if duly authorised by SciClone in
writing and upon prior written notice to Patheon, to perform annual inventory
audit. Upon SciClone's request, Patheon shall provide the necessary copies of
batch records and QC test result documents and any other pertinent documents of
regulatory and accounting importance.

7.7               cGMP COMPLIANCE AND QA AUDITS. Upon SciClone's written request
to Patheon, SciClone shall have the right to have representatives visit
Patheon's manufacturing facilities during normal business hours to review
Patheon's manufacturing operations, to have access to any relevant records in
connection with such manufacture and assess its compliance with cGMP and quality
assurance standards and to discuss any related issues with Patheon's
manufacturing and management personnel. Upon completion of Patheon's internal
review and product batch release, SciClone shall have the right to request
copies of Patheon's manufacturing records, including its batch records and
analytical records, for the purposes of assuring product quality and compliance
with agreed-upon manufacturing procedures and specifications. SciClone
acknowledges that all copies of Patheon's manufacturing records shall be
protected under the confidentiality provisions of Article 11.

                                      -17-

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                                    ARTICLE 8

                          TERM, RENEWAL AND TERMINATION

8.1               TERM. This Agreement shall become effective as of the Date of
Execution and shall expire [****] from the date it becomes effective (the
"INITIAL TERM"), unless [****].

This Agreement shall automatically continue after the Initial Term for
successive terms [****] unless either party gives written notice to the other
party of its intention to terminate this Agreement at least 180 (one hundred and
eighty) days prior to the end of the current term.

8.2               TERMINATION FOR CAUSE.

         (a)      Either party at its sole option may terminate this Agreement
                  upon written notice in circumstances where the other party has
                  failed to remedy a material breach of any of its
                  representations, warranties or other obligations under this
                  Agreement within 60 (sixty) days following receipt of a
                  written notice (the "REMEDIATION PERIOD") of said breach that
                  expressly states that it is a notice under this Section 8.2(a)
                  (a "BREACH NOTICE"). The aggrieved party's right to terminate
                  this Agreement pursuant to this Section 8.2(a) may only be
                  exercised for a period of 60 (sixty) days following the expiry
                  of the Remediation Period (in circumstances where the breach
                  has not been remedied) and if the termination right is not
                  exercised during this period then the aggrieved party shall be
                  deemed to have waived the breach of the representation,
                  warranty or obligation described in the Breach Notice.

         (b)      Either party at its sole option may immediately terminate this
                  Agreement upon written notice, but without prior advance
                  notice, to the other party in the event that (i) the other
                  party is declared insolvent or bankrupt by a court of
                  competent jurisdiction; (ii) a voluntary petition of
                  bankruptcy is filed in any court of competent jurisdiction by
                  such other party; or (iii) this Agreement is assigned by such
                  other party for the benefit of creditors.

         (c)      Should the parties not be able to reach agreement pursuant to
                  Section 13.6 below within 2 (two) weeks of the occurrence of
                  an event of force majeure, or should the event of force
                  majeure extend for more than 3 (three) months, each of the
                  parties shall be entitled to terminate this Agreement by
                  giving 30 (thirty) days written notice thereof to the other
                  party. Such notice shall indicate, inter alia, the date
                  provided for the termination of the Agreement.

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         (d)      SciClone may terminate this Agreement as to any Product upon
                  30 (thirty) days' written notice in the event that any
                  governmental agency takes any action, or raises any objection,
                  that prevents SciClone from importing, exporting, purchasing
                  or selling such Product.

         (e)      SciClone may terminate this Agreement in the event that
                  Patheon does not have the permits and licenses required by law
                  and technical know-how to manufacture the Products in the
                  Facility.

         (f)      Either party may terminate this Agreement on 6 (six) months'
                  prior written notice if either party assigns pursuant to
                  Section 13.5 any of its rights under this Agreement to an
                  assignee that, in the opinion of the non-assigning party
                  acting reasonably, is (i) not a credit worthy substitute for
                  either party, (ii) a competitor of either party or (iii) a
                  person with whom either party has had prior unsatisfactory
                  business relations.

         (g)      [****]

8.3               PRODUCT  DISCONTINUATION.  Subject to Section 6.1, SciClone
shall provide to Patheon [****] prior written notice, if it intends to no longer
order a Product due to that Product's discontinuance in the market.

8.4               OBLIGATIONS ON TERMINATION. If this Agreement expires or is
terminated in whole or in part for any reason, then (in addition to any other
remedies Patheon may have in the event of default by SciClone, including any
remedy pursuant to Section 6.1):

         a)       [****];

         b)       [****];

         c)       [****]; and

         d)       [****]

Any termination or expiration of this Agreement shall not affect any outstanding
obligations or payments due hereunder prior to such termination or expiration,
nor shall it prejudice any other remedies that the parties may have under this
Agreement. For greater certainty, termination of this Agreement for any reason
shall not affect the obligations and responsibilities of the parties pursuant to
Article 10, all of which survive any termination.

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                                    ARTICLE 9

                         REPRESENTATIONS AND WARRANTIES

9.1               AUTHORITY. Each party represents and warrants that it has the
full right and authority to enter into this Agreement, and that it is not aware
of any impediment that would inhibit its ability to perform its obligations
hereunder

9.2               NON-INFRINGEMENT. SciClone represents and warrants that:

         (a)      the Specifications for each of the Products are its or its
                  Affiliate's property and that SciClone may lawfully disclose
                  these Specifications to Patheon;

         (b)      any Intellectual Property utilized by Patheon in connection
                  with the manufacturing of the Products according to the
                  Specifications (i) is SciClone's or its Affiliate's
                  unencumbered property, (ii) may be lawfully used as directed
                  by SciClone, and (iii) such use does not infringe and will not
                  infringe any Third Party Rights;

         (c)      the carrying out of the manufacturing activities by Patheon in
                  respect of any Product pursuant to this Agreement or use or
                  other disposition of any Product by Patheon as may be required
                  to perform its obligations under this Agreement does not and
                  will not infringe any Third Party Rights;

         (d)      there are no actions or other legal proceedings, the subject
                  of which is the infringement of Third Party Rights related to
                  any of the Specifications, or any of the API and the
                  Components, or the sale, use or other disposition of any
                  Product made in accordance with the Specifications;

         (e)      the Specifications for all Products conforms to all applicable
                  cGMPs, laws and regulations; and

         (f)      the Products, if labelled and manufactured in accordance with
                  the Specifications and in compliance with applicable cGMPs (i)
                  may be lawfully sold and distributed in every jurisdiction in
                  which SciClone markets such Products, (ii) will be fit for the
                  purpose intended, and (iii) will be safe for human
                  consumption.

9.3               PATHEON'S WARRANTY. Patheon represents and warrants that the
Patheon has all the applicable permits and licenses and technical know-how to
manufacture the Products in the Facility.

9.4               SCICLONE'S WARRANTY. SciClone shall be solely responsible for
obtaining or maintaining any permits or other regulatory approvals in respect of
the Products or the Specifications, including, without limitation, all marketing
and post-marketing approvals.

                                      -20-

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9.5 COMPLIANCE WITH LAWS. Each party, in connection with its performance under
this Agreement, shall comply with all applicable laws, rules, regulations,
orders and guidelines.

                                   ARTICLE 10

                            LIABILITY AND INDEMNITIES

10.1              CONSEQUENTIAL DAMAGES. Neither party shall be liable to the
other in contract, tort, negligence, breach of statutory duty or otherwise for
any (direct or indirect) loss of profits, of production, of anticipated savings,
of business or goodwill or for any liability, damage, costs or expense of any
kind incurred by the other party of an indirect or consequential nature.

10.2              LIMITATION OF LIABILITY.

         (a)      Active Pharmaceutical Ingredient. Patheon shall not be
                  responsible for any loss or damage to the API, except where
                  such loss or damage occurs while such ingredient is located at
                  the Facility and results from a failure by Patheon to carry
                  out the manufacturing activities in accordance with the
                  Manufacturing Requirements or is otherwise due to Patheon's
                  gross negligence or intentional misconduct. [****].

         (b)      Products. Except in circumstances where Patheon has failed to
                  carry out the manufacturing activities in accordance with the
                  Manufacturing Requirements, and, in any event, except
                  Patheon's gross negligence or intentional misconduct, Patheon
                  shall not be liable nor have any responsibility for any
                  deficiencies in, or other liabilities associated with, any
                  Product manufactured by it, including, without limitation, any
                  deficiencies with respect to the Specifications, the safety,
                  efficacy or marketability of the Products or any distribution
                  risk. Except as set out in Section 7.2(c), if Patheon has
                  failed to carry out the manufacturing activities in accordance
                  with the Manufacturing Requirements, then Sciclone shall have
                  no obligation to pay for such Products. [****]

10.3              PATHEON. Patheon agrees to defend, indemnify and hold
SciClone, its officers, employees, Affiliates and agents harmless against any
and all losses, damages, costs, claims, demands, judgments and liability to,
from and in favour of third parties (other than Affiliates) resulting from, or
relating to any claim of personal injury or property damage to the extent that
such injury or damage is the result of a failure by Patheon to carry out the
manufacturing activities in accordance with the Manufacturing Requirements or
any breach of this Agreement by Patheon, including, without limitation, any
representation or warranty contained herein,

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except to the extent that any such losses, damages, costs, claims, demands,
judgments and liability are due to the negligence or wrongful act(s) of
SciClone, its officers, employees or agents or Affiliates. SciClone shall
promptly notify Patheon of any such claim, shall use commercially reasonable
efforts to mitigate the effects of such claim, shall reasonably cooperate with
Patheon in the defence of such claim and shall permit Patheon to control the
defence and settlement of such claim, all at Patheon's cost and expense.

10.4              SCICLONE. SciClone agrees to defend, indemnify and hold
Patheon, its officers, employees and agents harmless against any and all losses,
damages, costs, claims, demands, judgments and liability to, from and in favour
of third parties (other than Affiliates) resulting from, or relating to any
claim of infringement or alleged infringement of any Third Party Rights in
respect of the Products, and any claim of personal injury or property damage to
the extent that such injury or damage is the result of a breach of this
Agreement by SciClone, including, without limitation, any representation or
warranty contained herein, except to the extent that any such losses, damages,
costs, claims, demands, judgments and liability are due to the negligence or
wrongful act(s) of Patheon, its officers, employees or agents. Patheon shall
promptly notify SciClone of any such claims, shall use commercially reasonable
efforts to mitigate the effects of such claim, shall reasonably cooperate with
SciClone in the defence of such claims and shall permit SciClone to control the
defence and settlement of such claims, all at SciClone's cost and expense.

10.5              REASONABLE ALLOCATION OF RISK. The parties acknowledge and
agree that the provisions of this Agreement (including, without limitation, this
Article 10) are reasonable and create a reasonable allocation of risk having
regard to the relative profits the parties respectively expect to derive from
the Products, and that Patheon, in its fees for carrying out the manufacturing
activities, has not accepted a greater degree of the risks arising from the
manufacture, distribution and use of the Products, based on the fact that
SciClone has developed and holds the marketing approval for the Products and
requires Patheon to manufacture and label the Products strictly in accordance
with the Specifications, and that SciClone and not Patheon is in a position to
inform and advise potential users of the Products as to the circumstances and
manner of use of the Products.

                                   ARTICLE 11

                                 CONFIDENTIALITY

11.1              DISCLOSURE. During and in furtherance of this Agreement, each
of the parties hereto may disclose certain of its Confidential Information to
the other party.

11.2              USE OF INFORMATION. During the Initial Term and any renewals
of this Agreement, and for a period of five years from the termination of this
Agreement, each of the parties hereto agrees (i) to use the Confidential
Information only in connection with the terms of this Agreement; (ii) to treat
the Confidential Information as it would its own proprietary information; and
(iii) to take all reasonable precautions to prevent the disclosure of the

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<PAGE>

Confidential Information to any third party, other than an Affiliate, without
the prior written consent of the other party.

11.3              EXCEPTIONS. Each of Patheon and SciClone shall be relieved of
any and all of the obligations under Section 11.2 regarding Confidential
Information which (i) was known by the recipient prior to receipt hereunder;
(ii) at the time of disclosure, was generally available to the public, or which
after disclosure hereunder becomes generally available to the public through no
fault attributable to a party hereto; (iii) is hereafter made available for use
or disclosure from any third party having a right to do so; or (iv) it is
required to make such disclosure as a result of an application of a law
applicable to it or any of its Affiliates or an order of a court or regulatory
tribunal.

11.4              DESIGNATION OF CONFIDENTIALITY. All oral information shall be
reduced to writing forthwith after disclosure. Each party shall either mark its
Confidential Information "CONFIDENTIAL" or "PROPRIETARY" or ensure that it is
covered by a notice indicating that such information is confidential. For
greater certainty, a verbal disclosure by a party of its Confidential
Information shall be followed by a written summary of the conversation marked
"CONFIDENTIAL" and be delivered to the other party within thirty days of the
conversation.

                                   ARTICLE 12

                               DISPUTE RESOLUTION

12.1              DISPUTES. In the event of any dispute, claim, question or
disagreement arising out of or relating to this Agreement (a "DISPUTE"), the
parties shall use all reasonable efforts to settle such Dispute by amicable
negotiations within a period of [****]* Certain information on this page has
been omitted and filed separately with the commission. Confidential treatment
has been requested with respect to the omitted portions. of one party giving
notice of the Dispute to the other party.

12.2              ARBITRATION. Should the parties not to settle the dispute by
amicable negotiations within the such period of [****], all disputes shall be
finally settled under the rules of conciliation and arbitration of the
International Chamber of Commerce (the "RULES") by three arbitrators, reasonably
fluent in [****].

The arbitration procedure will take place in [****] and will be conducted in
[****] language.

The decision of the arbitrators will be final and binding upon the parties.

--------------------
* Certain information on this page has been omitted and filed separately
with the commission. Confidential treatment has been requested with respect to
the omitted portions.

                                      -23-

<PAGE>

                                   ARTICLE 13

                                  MISCELLANEOUS

13.1              TRADEMARKS. SciClone and Patheon hereby acknowledge that
neither party has, nor shall it acquire, any interest in any of the other
party's trademarks or trade names unless otherwise expressly agreed to in
writing. Each party agrees not to use any trademark or trade name of the other
party, except as specifically authorized by the other party or as required for
the performance of its obligations under this Agreement.

Matters of competition law, including admissibility, in respect of package
design, package inserts and other elements, and matters of intellectual property
law shall be the responsibility of SciClone, which undertakes to hold Patheon
harmless and indemnified against any claim for damages and/or expenses which can
in any way be attributed to a breach of competition law or intellectual property
law.

13.2              INSURANCE. Each party shall maintain comprehensive general
liability insurance, with a leading insurance company, including blanket
contractual liability insurance covering the obligations of that party under
this Agreement through the term of this Agreement and for five years thereafter,
which insurance shall afford limits of not less than [****]* Certain information
on this page has been omitted and filed separately with the commission.
Confidential treatment has been requested with respect to the omitted portions.
for each occurrence for bodily injury liability, personal injury liability,
products liability, property damage liability, and contractual liability. Each
party will provide the other with a certificate of insurance evidencing the
above and showing the name of the issuing company, the policy number, the
effective date, the expiration date and the limits of liability. The insurance
certificate shall further provide for a minimum of thirty days' written notice
to the recipient of a cancellation of, or material change in, the insurance.

13.3              INDEPENDENT CONTRACTORS. The parties are independent
contractors and this Agreement shall not be construed to create between Patheon
and SciClone any other relationship such as, by way of example only, that of
employer-employee, principal agent, joint-venture, co-partners or any similar
relationship, the existence of which is expressly denied by the parties hereto.

13.4              NO WAIVER. The tolerance by either of the parties, even if
continued or repeated, of breaches by the other party of provisions contained in
any clause of this Agreement shall not constitute a waiver nor it may in any way
affect the validity of the clause being breached, so long as the breach is
contested within 60 (sixty) days of the date of the event by way of registered
letter with return receipt.

--------------------
* Certain information on this page has been omitted and filed separately
with the commission. Confidential treatment has been requested with respect to
the omitted portions.

                                      -24-

<PAGE>

13.5              ASSIGNMENT AND SUBCONTRACT. Neither party may assign this
Agreement or any of its rights nor do obligations hereunder except with the
written consent of the other party, such consent not to be unreasonably
withheld.

Notwithstanding the foregoing provisions of this Section 13.5, either party may
assign this Agreement to any of its Affiliates or to a successor to or purchaser
of all or substantially all of its business, provided that such assignee
executes an agreement with the non-assigning party hereto whereby it agrees to
be bound hereunder.

Patheon may subcontract, in whole or in part, to third parties the performance
of the activities contemplated under Article 3 above entrusted to it by this
Agreement. In any event, before subcontracting the performance of the aforesaid
activities to third parties, Patheon shall receive SciClone's written approval,
such consent not to be unreasonably withheld.

13.6              FORCE MAJEURE. Neither party shall be liable for the failure
to perform its obligations under this Agreement if such failure is occasioned by
a cause or contingency beyond such party's reasonable control, including, but
not limited to, strikes or other labour disturbances, lockouts, riots, wars,
fires, floods, storms, interruption of or delay in transportation, or compliance
with any order or regulation of any government entity acting within colour of
right. A party claiming a right to excused performance under this Section 13.6
shall immediately notify the other party in writing of the extent of its
inability to perform, which notice shall specify the occurrence beyond its
reasonable control that prevents such performance.

The party affected by an event of force majeure must give prompt notice thereof
to the other party, identifying such event and indicating its consequences from
the stand point of the fulfilment of contractual obligations.

The party affected by an event of force majeure must use every effort in order
to continue to perform this Agreement and if absolutely necessary the parties
shall co-operate in order to agree upon terms and conditions different from
those contained herein, for the continuance of the Agreement itself for the
entire period of time the event of force majeure continues.

13.7              ADDITIONAL PRODUCT. Additional products may be added to this
Agreement and such additional products shall be governed by the general
conditions hereof with any special terms (including, without limitation, price)
governed by an addendum hereto.

13.8              NOTICES. All communications and other notices under this
Agreement shall be in writing and shall be considered as duly given if delivered
personally or sent by registered letter with return receipt or transmitted by
fax, confirmed by registered letter sent within two (2) working days following
the date of the fax to the parties at the following addresses (or at any other
address which the parties shall have indicated giving notice thereof in the ways
set forth above):

                  a) as to SciClone, to:

                  SCICLONE PHARMACEUTICAL INTERNATIONAL LTD.

                                      -25-

<PAGE>

                  Room 3401A, Windsor House,
                  311 Gloucester Road, Causeway Bay
                  Hong Kong
                  Attention: Dr. Sriram (Ram) Vemuri, Ph.D.,
                  Vice President, Product Development and Manufacturing
                  Tel. No.: +852-2510-0118 (in Hong Kong)
                  Fax No.: +852-2508-1500 (in Hong Kong)
                  Tel. No.: +650-350-1443 (in USA)
                  Fax No: +650-358-3469(in USA)

                  b) as to Patheon, to:

                  PATHEON ITALIA S.P.A.
                  [****]
                  Italy
                  Attention: Managing Director
                  Tel. No.: [****]
                  Fax No.: [****]

All the communications and other notices under this Agreement which have been
delivered in person or which have been transmitted by fax and confirmed by
registered letter sent within 2 (two) working days following the date of the
fax, shall be considered as received by the addressee respectively upon the date
of delivery in person or on the third working day subsequent to that of the date
of the fax.

13.9              ENTIRE AGREEMENT. This Agreement constitutes the full,
complete, final and integrated agreement between the parties hereto relating to
the subject matter hereof and supersedes all previous written or oral
negotiations, commitments, agreements, transactions or understandings with
respect to the subject matter hereof. Any modification, amendment or supplement
to this Agreement must be in writing and signed by authorized representatives of
both parties.

13.10             EXECUTION IN COUNTERPARTS. This Agreement shall be executed in
three originals, all of which together shall constitute one and the same
instrument.

13.11             GOVERNING LAW. This Agreement shall be construed and enforced
in accordance with the laws of [****].

                  IN WITNESS WHEREOF, the duly authorized representatives of the
parties have executed this Agreement as of the date first written above.

--------------------
* Certain information on this page has been omitted and filed separately
with the commission. Confidential treatment has been requested with respect to
the omitted portions.

                                      -26-

<PAGE>

PATHEON ITALIA S.P.A.

_______________________________
[****]
Managing Director of Patheon Italia S.p.A.

SCICLONE PHARMACEUTICALS INTERNATIONAL LTD.

_______________________________
By Dr. Sriram Vemuri and

Dr. Alfred Rudolph

_______________________________

                                      -27-

<PAGE>

                                   SCHEDULE A

                             GMP TECHNICAL AGREEMENT

[****]

--------------------
* Certain information on this schedule encompassing 16 pages has been omitted
and filed separately with the commission. Confidential treatment has been
requested with respect to the omitted portions.

<PAGE>

                                                                      APPENDIX I

                                 SPECIFICATIONS

PRODUCTS:

[****]

--------------------
* Certain information on this appendix encompassing 8 pages has been omitted and
filed separately with the commission. Confidential treatment has been requested
with respect to the omitted portions.

<PAGE>

                                                                     APPENDIX II

                     STARTING COMPONENTS AND SPECIFICATIONS

[****]

--------------------
* Certain information on this appendix encompassing 73 pages has been omitted
and filed separately with the commission. Confidential treatment has been
requested with respect to the omitted portions.

<PAGE>

                                                                    APPENDIX III

             MANUFACTURING PROCEDURES AND MANUFACTURING INSTRUCTIONS

[****]

--------------------
* Certain information on this appendix encompassing 26 pages has been omitted
and filed separately with the commission. Confidential treatment has been
requested with respect to the omitted portions.

<PAGE>

                                                                     APPENDIX IV

            LOT NUMBERING, EXPIRATION DATES AND VARIABLE DATA SYSTEM

[****]

--------------------
* Certain information on this appendix encompassing 6 pages has been omitted and
filed separately with the commission. Confidential treatment has been requested
with respect to the omitted portions.

<PAGE>

                                                                      APPENDIX V

                       QUALITY CONTROL SPECIFICATIONS AND

                          QUALITY CONTROL DOCUMENTATION

[****]

--------------------
* Certain information on this appendix encompassing 36 pages has been omitted
and filed separately with the commission. Confidential treatment has been
requested with respect to the omitted portions.

<PAGE>

                                                                     APPENDIX VI

                       SHIPPING AND DELIVERY INSTRUCTIONS

[****]

--------------------
* Certain information on this page has been omitted and filed separately with
the commission. Confidential treatment has been requested with respect to the
omitted portions.

<PAGE>

                                                                    APPENDIX VII

                            PRODUCT RELEASE PROTOCOL

[****]

--------------------
* Certain information on this appendix encompassing 3 pages has been omitted and
filed separately with the commission. Confidential treatment has been requested
with respect to the omitted portions.

<PAGE>

                                                                   APPENDIX VIII

                             PLACEBO SPECIFICATION

[****]

--------------------
* Certain information on this page has been omitted and filed separately with
the commission. Confidential treatment has been requested with respect to the
omitted portions.

<PAGE>

                                   SCHEDULE B

              PRODUCT AND SERVICE PRICE LIST, TECHNOLOGY TRANSFER,

                      CAPITAL EQUIPMENT AND OTHER SERVICES

[****]

--------------------
* Certain information on this schedule encompassing 2 pages has been omitted and
filed separately with the commission. Confidential treatment has been requested
with respect to the omitted portions.

<PAGE>

                                   SCHEDULE C

                AGREED VALUE OF ACTIVE PHARMACEUTICAL INGREDIENT

[****]

--------------------
* Certain information on this page has been omitted and filed separately with
the commission. Confidential treatment has been requested with respect to the
omitted portions.

<PAGE>

                                   SCHEDULE D

[****]

--------------------
* Certain information on this page has been omitted and filed separately with
the commission. Confidential treatment has been requested with respect to the
omitted portions.

<PAGE>

                                   SCHEDULE E

--------------------
* Certain information on this page has been omitted and filed separately with
the commission. Confidential treatment has been requested with respect to the
omitted portions.<PAGE>

                                                                    EXHIBIT 4.19

================================================================================

                              AMENDED AND RESTATED
                          REGISTRATION RIGHTS AGREEMENT

                                      among

                               CRITICAL PATH, INC.

                       GENERAL ATLANTIC PARTNERS 74, L.P.,

                       GAP COINVESTMENT PARTNERS II, L.P.,

                                  GAPSTAR, LLC,

                               GAPCO GMBH & CO. KG

                                       and

                         THE OTHER PARTIES LISTED HEREIN

             ------------------------------------------------------

                            Dated: November 26, 2003

             ------------------------------------------------------

================================================================================

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                                 Page
                                                                                                                 ----
<S>                                                                                                              <C>
1.       Definitions....................................................................................           2

2.       General; Securities Subject to this Agreement..................................................           5
         (a)      Grant of Rights.......................................................................           5
         (b)      Registrable Securities................................................................           5
         (c)      Holders of Registrable Securities.....................................................           5

3.       Demand Registration............................................................................           5
         (a)      Request for Demand Registration.......................................................           5
         (b)      Incidental or "Piggy-Back" Rights with Respect to a Demand Registration...............           6
         (c)      Effective Demand Registration.........................................................           7
         (d)      Expenses..............................................................................           7
         (e)      Underwriting Procedures...............................................................           7
         (f)      Selection of Underwriters.............................................................           8

4.       Incidental or "Piggy-Back" Registration........................................................           8
         (a)      Request for Incidental Registration...................................................           8
         (b)      Expenses..............................................................................           9

5.       Holdback Agreements............................................................................           9
         (a)      Restrictions on Public Sale by Designated Holders.....................................           9
         (b)      Restrictions on Public Sale by the Company............................................           9

6.       Registration Procedures........................................................................           9
         (a)      Obligations of the Company............................................................           9
         (b)      Seller Information....................................................................          12
         (c)      Notice to Discontinue.................................................................          12
         (d)      Registration Expenses.................................................................          13

7.       Indemnification; Contribution..................................................................          13
         (a)      Indemnification by the Company........................................................          13
         (b)      Indemnification by Designated Holders.................................................          14
         (c)      Conduct of Indemnification Proceedings................................................          14
         (d)      Contribution..........................................................................          15

8.       Rule 144.......................................................................................          15

9.       Miscellaneous..................................................................................          16
         (a)      Recapitalizations, Exchanges, etc.....................................................          16
         (b)      No Inconsistent Agreements............................................................          16
         (c)      Remedies..............................................................................          16
         (d)      Amendments and Waivers................................................................          16
         (e)      Notices...............................................................................          16
         (f)      Successors and Assigns; Third Party Beneficiaries.....................................          18
</TABLE>

                                       i

<PAGE>

<TABLE>
<CAPTION>
                                                                                                                Page
                                                                                                                ----
<S>                                                                                                             <C>
(g)      Counterparts...................................................................................          19
(h)      Headings.......................................................................................          19
(i)      Governing Law..................................................................................          19
(j)      Severability...................................................................................          19
(k)      Rules of Construction..........................................................................          19
(l)      Entire Agreement...............................................................................          19
(m)      Further Assurances.............................................................................          19
(n)      Other Agreements...............................................................................          19
(o)      Effective Date and Termination.................................................................          20
</TABLE>

                                       ii

<PAGE>

                              AMENDED AND RESTATED

                          REGISTRATION RIGHTS AGREEMENT

         AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT, dated November __,
2003 (this "Agreement"), among Critical Path, Inc., a California corporation
(the "Company"), General Atlantic Partners 74, L.P., a Delaware limited
partnership ("GAP LP"), GAP Coinvestment Partners II, L.P., a Delaware limited
partnership ("GAP Coinvestment"), GapStar, LLC, a Delaware limited liability
company ("GapStar"), GAP-W, LLC, a Delaware limited liability company ("GAP-W"),
GAPCO GmbH & Co. KG, a German limited partnership ("GmbH Coinvestment"), Cenwell
Limited ("Cenwell"), Campina Enterprises Limited ("Campina"), Great Affluent
Limited ("Great Affluent"), Dragonfield Limited ("Dragonfield"), Lion Cosmos
Limited ("Lion Cosmos") and Vectis CP Holdings, LLC, a Delaware limited
liability company ("Vectis").

         WHEREAS, pursuant to the Stock and Warrant Purchase Agreement, dated
November 8, 2001, as amended from time to time (the "Stock Purchase Agreement"),
among the Company, GAP LP, GAP Coinvestment, GapStar, Cenwell, Campina and
Vectis, the Company has (i) issued and sold to GAP LP, GAP Coinvestment,
GapStar, Cenwell, Campina and Vectis, an aggregate of 2,162,582 shares of Series
D Cumulative Redeemable Convertible Participating Series D Preferred Stock, par
value $0.001 per share, of the Company, as amended from time to time (the
"Series D Preferred Stock"), (ii) issued and delivered to GAP LP, GAP
Coinvestment and GapStar an aggregate of 1,837,418 shares of Series D Preferred
Stock in exchange for a certain amount of convertible subordinated notes of the
Company and (iii) issued and sold to GAP LP, GAP Coinvestment and GapStar
warrants to purchase shares of Common Stock (as hereinafter defined) (the
"Warrants");

         WHEREAS, pursuant to the Convertible Note Purchase and Exchange
Agreement, dated November 18, 2003 (the "Convertible Note Purchase and Exchange
Agreement"), among the Company, GAP LP, GAP Coinvestment, GapStar, Campina,
Cenwell, Great Affluent, Dragonfield and Lion Cosmos, (i) the Company has issued
and sold to GAP LP, GAP Coinvestment, GapStar, GAP-W and GmbH Coinvestment
convertible promissory notes (the "Notes") which are convertible into shares,
par value $0.001 per share, of Series E Redeemable Convertible Preferred Stock
of the Company (the "Series E Preferred Stock") and (ii) Campina, Cenwell, Great
Affluent, Dragonfield and Lion Cosmos agreed upon the satisfaction of certain
conditions to exchange their CK Sub Notes (as hereinafter defined) for shares of
Series E Preferred Stock; and

         WHEREAS, in order to induce (i) each of GAP LP, GAP Coinvestment,
GapStar, GAP-W and GmbH Coinvestment to purchase the Notes and (ii) Campina,
Cenwell, Great Affluent, Dragonfield and Lion Cosmos to exchange the CK Sub
Notes for shares of Series E Preferred Stock, the Company has agreed to grant
registration rights with respect to the Registrable Securities (as hereinafter
defined) as set forth in this Agreement.

         NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth herein and for good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the parties hereto agree as follows:

<PAGE>

         1.       Definitions. As used in this Agreement, and unless the context
requires a different meaning, the following terms have the meanings indicated:

                  "Affiliate" shall mean any Person who is an "affiliate" as
defined in Rule 12b-2 of the General Rules and Regulations under the Exchange
Act.

                  "Agreement" mean this Agreement as the same may be amended,
supplemented or modified in accordance with the terms hereof.

                  "Amended and Restated Stockholders Agreement" shall mean the
Amended and Restated Stockholders Agreement, dated the date hereof, among the
Company, GAP LP, GAP Coinvestment, GapStar, GAP-W, GmbH Coinvestment and the
Persons listed therein as "Coinvestors."

                  "Approved Underwriter" has the meaning set forth in Section
3(f) of this Agreement.

                  "Board of Directors" means the Board of Directors of the
Company.

                  "Business Day" means any day other than a Saturday, Sunday or
other day on which commercial banks in the State of New York are authorized or
required by law or executive order to close.

                  "Campina" has the meaning set forth in the preamble to this
Agreement.

                  "Cenwell" has the meaning set forth in the preamble to this
Agreement.

                  "Coinvestor Stockholders" means Cenwell, Campina, Great
Affluent, Dragonfield, Lion Cosmos and any Affiliate thereof that, after the
date hereof, acquires Registrable Securities.

                  "CK Sub Notes" means the 5 3/4 % Convertible Subordinated
Notes due April 1, 2005 issued by the Company in the principal face amount of
thirty-two million seven hundred ninety-five thousand dollars ($32,795,000),
pursuant to the Company's Indenture, dated March 31, 2000.

                  "Commission" means the Securities and Exchange Commission or
any similar agency then having jurisdiction to enforce the Securities Act.

                  "Common Stock" means the Common Stock, par value $0.001 per
share, of the Company or any other capital stock of the Company into which such
stock is reclassified or reconstituted and any other common stock of the
Company.

                  "Company" has the meaning set forth in the preamble to this
Agreement.

                  "Company Underwriter" has the meaning set forth in Section
4(a) of this Agreement.

                                       2

<PAGE>

                  "Convertible Note Purchase and Exchange Agreement" has the
meaning set forth in the recitals to this Agreement.

                  "Demand Registration" has the meaning set forth in Section
3(a) of this Agreement.

                  "Designated Holder" means each of the General Atlantic
Stockholders, the Coinvestor Stockholders and the Vectis Stockholders and any
transferee of any of them to whom Registrable Securities have been transferred
in accordance with Section 9(f) of this Agreement, other than a transferee to
whom Registrable Securities have been transferred pursuant to a Registration
Statement under the Securities Act or Rule 144 (or any successor rule thereto).

                  "Dragonfield" has the meaning set forth in the recitals to
this Agreement.

                  "Exchange" has the meaning set forth in the Convertible Note
Purchase and Exchange Agreement.

                  "Exchange Act" means the Securities Exchange Act of 1934, as
amended, and the rules and regulations of the Commission thereunder.

                  "GAP Coinvestment" has the meaning set forth in the preamble
to this Agreement.

                  "GAP LLC" means General Atlantic Partners, LLC, a Delaware
limited liability company and the general partner of GAP LP and the managing
member of GapStar, and any successor to such entity.

                  "GAP LP" has the meaning set forth in the preamble to this
Agreement.

                  "GAP-W" has the meaning set forth in the preamble to this
Agreement.

                  "GapStar" has the meaning set forth in the preamble to this
Agreement.

                  "General Atlantic Stockholders" means GAP LP, GAP
Coinvestment, GapStar, GAP-W, GmbH Coinvestment and any Affiliate of GAP LLC
that, after the date hereof, acquires Registrable Securities.

                  "GmbH Coinvestment" means GAPCO GmbH & Co. KG, a German
limited partnership.

                  "Great Affluent" has the meaning set forth in the recitals to
this Agreement.

                  "Holders' Counsel" has the meaning set forth in Section
6(a)(i) of this Agreement.

                  "Incidental Registration" has the meaning set forth in Section
4(a) of this Agreement.

                                       3

<PAGE>

                  "Indemnified Party" has the meaning set forth in Section 7(c)
of this Agreement.

                  "Indemnifying Party" has the meaning set forth in Section 7(c)
of this Agreement.

                  "Initiating Holders" has the meaning set forth in Section 3(a)
of this Agreement.

                  "Inspector" has the meaning set forth in Section 6(a)(vii) of
this Agreement.

                  "Liability" has the meaning set forth in Section 7(a) of this
Agreement.

                  "Lion Cosmos" has the meaning set forth in the recitals to
this Agreement.

                  "NASD" means the National Association of Securities Dealers,
Inc.

                  "Person" means any individual, firm, corporation, partnership,
limited liability company, trust, incorporated or unincorporated association,
joint venture, joint stock company, limited liability company, government (or an
agency or political subdivision thereof) or other entity of any kind, and shall
include any successor (by merger or otherwise) of such entity.

                  "Public Offering" means any public offering of the shares of
Common Stock of the Company pursuant to an effective Registration Statement
filed under the Securities Act.

                  "Records" has the meaning set forth in Section 6(a)(vii) of
this Agreement.

                  "Registrable Securities" means each of the following: (a) any
and all shares of Common Stock issued or issuable upon conversion of shares of
Series D Preferred Stock, Series E Preferred Stock or exercise of the Warrants,
(b) any other shares of Common Stock acquired or owned by any of the Designated
Holders after the date hereof if such Designated Holder is an Affiliate of the
Company and (c) any shares of Common Stock issued or issuable to any of the
Designated Holders with respect to the Registrable Securities by way of stock
dividend or stock split or in connection with a combination of shares,
recapitalization, merger, consolidation or other reorganization or otherwise and
any shares of Common Stock or voting common stock issuable upon conversion,
exercise or exchange thereof.

                  "Registration Expenses" has the meaning set forth in Section
6(d) of this Agreement.

                  "Registration Statement" means a Registration Statement filed
pursuant to the Securities Act.

                  "Securities Act" means the Securities Act of 1933, as amended,
and the rules and regulations of the Commission promulgated thereunder.

                  "Series D Preferred Stock" has the meaning set forth in the
recitals to this Agreement.

                  "Series E Preferred Stock" has the meaning set forth in the
recitals to this Agreement.

                                       4

<PAGE>

                  "Stock Purchase Agreement" has the meaning set forth in the
recitals to this Agreement.

                  "Stockholder Approval" has the meaning set forth in the
Convertible Note Purchase and Exchange Agreement.

                  "Valid Business Reason" has the meaning set forth in Section
3(a) of this Agreement.

                  "Vectis" has the meaning set forth in the preamble of this
Agreement.

                  "Vectis Stockholders" means Vectis and any Affiliate thereof
that, after the date hereof, acquires Registrable Securities.

                  "Warrants" has the meaning set forth in the recitals to this
Agreement.

         2.       General; Securities Subject to this Agreement.

                  (a)      Grant of Rights. The Company hereby grants
registration rights to the Designated Holders upon the terms and conditions set
forth in this Agreement.

                  (b)      Registrable Securities. For the purposes of this
Agreement, Registrable Securities will cease to be Registrable Securities, when
(i) a Registration Statement covering such Registrable Securities has been
declared effective under the Securities Act by the Commission and such
Registrable Securities have been disposed of pursuant to such effective
Registration Statement, (ii) (x) the entire amount of the Registrable Securities
owned by a Designated Holder may be sold in a single sale, in the opinion of
counsel satisfactory to the Company and such Designated Holder, each in their
reasonable judgment, without any limitation as to volume pursuant to Rule 144
(or any successor provision then in effect) under the Securities Act and (y)
such Designated Holder owning such Registrable Securities owns less than one
percent (1%) of the outstanding shares of Common Stock on a fully diluted basis,
or (iii) the Registrable Securities are proposed to be sold or distributed by a
Person not entitled to the registration rights granted by this Agreement.

                  (c)      Holders of Registrable Securities. A Person is deemed
to be a holder of Registrable Securities whenever such Person owns of record
Registrable Securities, or holds an option to purchase, or a security
convertible into or exercisable or exchangeable for, Registrable Securities
whether or not such acquisition or conversion has actually been effected. If the
Company receives conflicting instructions, notices or elections from two or more
Persons with respect to the same Registrable Securities, the Company may act
upon the basis of the instructions, notice or election received from the
registered owner of such Registrable Securities. Registrable Securities issuable
upon exercise of an option or upon conversion of another security shall be
deemed outstanding for the purposes of this Agreement.

         3.       Demand Registration.

                  (a)      Request for Demand Registration. At any time
commencing one year after the date hereof, either the General Atlantic
Stockholders or the Coinvestor Stockholders

                                       5

<PAGE>

(the "Initiating Holders"), may each make a written request to the Company to
register, and the Company shall register, under the Securities Act and on an
appropriate registration statement form as reasonably determined by the Company
and approved by the Initiating Holders (a "Demand Registration"), the number of
Registrable Securities stated in such request; provided, however, that the
Company shall not be obligated to effect more than one such Demand Registration
for the General Atlantic Stockholders (subject to Section 3(e)(ii) below) and
more than one such Demand Registration for the Coinvestor Stockholders (subject
to Section 3(e)(ii) below). If following receipt of a written request for a
Demand Registration the Board of Directors, in its good faith judgment,
determines that any registration of Registrable Securities should not be made or
continued because it would materially interfere with any material financing,
acquisition, corporate reorganization or merger or other material transaction
involving the Company (a "Valid Business Reason"), the Company may (x) postpone
filing a Registration Statement relating to a Demand Registration until such
Valid Business Reason no longer exists, but in no event for more than ninety
(90) days, and (y) in case a Registration Statement has been filed relating to a
Demand Registration, if the Valid Business Reason has not resulted from actions
taken by the Company, the Company, upon the approval of a majority of the Board
of Directors, such majority to include at least one Director appointed by the
General Atlantic Stockholders, may cause such Registration Statement to be
withdrawn and its effectiveness terminated or may postpone amending or
supplementing such Registration Statement. The Company shall give written notice
of its determination to postpone or withdraw a Registration Statement and of the
fact that the Valid Business Reason for such postponement or withdrawal no
longer exists, in each case, promptly after the occurrence thereof.
Notwithstanding anything to the contrary contained herein, the Company may not
postpone or withdraw a filing under this Section 3(a) more than once in any
twelve (12) month period. Each request for a Demand Registration by the
Initiating Holders shall state the amount of the Registrable Securities proposed
to be sold and the intended method of disposition thereof.

                  (b)      Incidental or "Piggy-Back" Rights with Respect to a
Demand Registration. Each of the Designated Holders (other than Initiating
Holders which have requested a registration under Section 3(a)) may offer its or
his Registrable Securities under any Demand Registration pursuant to this
Section 3(b). Within five (5) days after the receipt of a request for a Demand
Registration from an Initiating Holder, the Company shall (i) give written
notice thereof to all of the Designated Holders (other than Initiating Holders
which have requested a registration under Section 3(a)) and (ii) subject to
Section 3(e), include in such registration all of the Registrable Securities
held by such Designated Holders from whom the Company has received a written
request for inclusion therein within ten (10) days of the receipt by such
Designated Holders of such written notice referred to in clause (i) above. Each
such request by such Designated Holders shall specify the number of Registrable
Securities proposed to be registered. The failure of any Designated Holder to
respond within such 10 day period referred to in clause (ii) above shall be
deemed to be a waiver of such Designated Holder's rights under this Section 3
with respect to such Demand Registration. Any Designated Holder may waive its
rights under this Section 3 prior to the expiration of such 10-day period by
giving written notice to the Company, with a copy to the Initiating Holders. If
a Designated Holder sends the Company a written request for inclusion of part or
all of such Designated Holder's Registrable Securities in a registration, such
Designated Holder shall not be entitled to withdraw or revoke such request
without the prior written consent of the Company in its sole discretion unless,
as a result of facts or circumstances arising after the date on which such
request was

                                       6

<PAGE>

made relating to the Company or to market conditions, such Designated Holder
reasonably determines that participation in such registration would have a
material adverse effect on such Designated Holder.

                  (c)      Effective Demand Registration. The Company shall use
all commercially reasonable efforts to cause any such Demand Registration to be
filed not later than thirty (30) days after it receives a request under Section
3(a) hereof and to become and remain effective as soon as practicable thereafter
but, in any event, not later than ninety (90) days after such filing. A
registration shall not constitute a Demand Registration until it has become
effective and remains continuously effective for the lesser of (i) the period
during which all Registrable Securities registered in the Demand Registration
are sold and (ii) one hundred twenty (120) days; provided, however, that a
registration shall not constitute a Demand Registration if (x) after such Demand
Registration has become effective, such registration or the related offer, sale
or distribution of Registrable Securities thereunder is interfered with by any
stop order, injunction or other order or requirement of the Commission or other
governmental agency or court for any reason not attributable to the Initiating
Holders and such interference is not thereafter eliminated or (y) the conditions
specified in the underwriting agreement, if any, entered into in connection with
such Demand Registration are not satisfied or waived, other than by reason of a
failure by the Initiating Holder.

                  (d)      Expenses. The Company shall pay all Registration
Expenses in connection with a Demand Registration, whether or not such Demand
Registration becomes effective.

                  (e)      Underwriting Procedures.

                           (i)      If the Company or the Initiating Holders
holding a majority of the Registrable Securities held by all of the Initiating
Holders so elect, the Company shall use all commercially reasonable efforts to
cause such Demand Registration to be in the form of a firm commitment
underwritten offering and the managing underwriter or underwriters selected for
such offering shall be the Approved Underwriter selected in accordance with
Section 3(f). In connection with any Demand Registration under this Section 3
involving an underwritten offering, none of the Registrable Securities held by
any Designated Holder making a request for inclusion of such Registrable
Securities pursuant to Section 3(b) hereof shall be included in such
underwritten offering unless such Designated Holder accepts the terms of the
offering as agreed upon by the Company, the Initiating Holders and the Approved
Underwriter, and then only in such quantity as will not, in the opinion of the
Approved Underwriter, jeopardize the success of such offering by the Initiating
Holders. If the Approved Underwriter advises the Company in its reasonable
opinion that the aggregate amount of such Registrable Securities requested to be
included in such offering is sufficiently large to have a material adverse
effect on the success of such offering, then the Company shall include in such
registration only the aggregate amount of Registrable Securities that the
Approved Underwriter believes may be sold without any such material adverse
effect and shall reduce the amount of Registrable Securities to be included in
such registration by removing from such registration securities owned, first by
the Company and second by the Designated Holders (including the Initiating
Holders) pro rata based on the number of Registrable Securities owned by each
such Designated Holder.

                                       7

<PAGE>

                           (ii)     If an Initiating Holder makes a request for
a Demand Registration and, pursuant to Section 3(e)(i) above, the Approved
Underwriter advises the Company to reduce the aggregate amount of Registrable
Securities requested to be included in such offering such that less than
seventy-five percent (75%) of the Registrable Securities requested to be
included by any Initiating Holder are ultimately included in and sold pursuant
to such Demand Registration, the Initiating Holder shall have the right to
require the Company to effect an additional Demand Registration; provided,
however, that in no event shall the aggregate number of Demand Registrations to
be effected by the Company for any one Initiating Holder exceed two (2).

                  (f)      Selection of Underwriters. If any Demand Registration
of Registrable Securities is in the form of an underwritten offering, the
Company shall select and obtain an investment banking firm of national
reputation to act as the managing underwriter of the offering (the "Approved
Underwriter"); provided, however, that the Approved Underwriter shall, in any
case, also be approved by the Initiating Holders.

         4.       Incidental or "Piggy-Back" Registration.

                  (a)      Request for Incidental Registration. If at any time
the Company proposes to file a Registration Statement under the Securities Act
with respect to an offering by the Company for its own account (other than a
Registration Statement on Form S-4 or S-8 or any successor thereto) or for the
account of any stockholder of the Company other than the Designated Holders,
then the Company shall give written notice of such proposed filing to each of
the Designated Holders at least twenty (20) days before the anticipated filing
date, and such notice shall describe the proposed registration and distribution
and offer such Designated Holders the opportunity to register the number of
Registrable Securities as each such Designated Holder may request (an
"Incidental Registration"). The Company shall use all commercially reasonable
efforts (within twenty (20) days of the notice provided for in the preceding
sentence) to cause the managing underwriter or underwriters in the case of a
proposed underwritten offering (the "Company Underwriter") to permit each of the
Designated Holders who have requested in writing to participate in the
Incidental Registration to include its or his Registrable Securities in such
offering on the same terms and conditions as the securities of the Company or
the account of such other stockholder, as the case may be, included therein. In
connection with any Incidental Registration under this Section 4(a) involving an
underwritten offering, the Company shall not be required to include any
Registrable Securities in such underwritten offering unless the Designated
Holders thereof accept the terms of the underwritten offering as agreed upon
between the Company, such other stockholders, if any, and the Company
Underwriter, and then only in such quantity as the Company Underwriter believes
will not jeopardize the success of the offering by the Company. If the Company
Underwriter determines that the registration of all or part of the Registrable
Securities which the Designated Holders have requested to be included would
materially adversely affect the success of such offering, then the Company shall
be required to include in such Incidental Registration, to the extent of the
amount that the Company Underwriter believes may be sold without causing such
adverse effect, first, all of the securities to be offered for the account of
the Company or on the account of the selling stockholder that caused the
registration statement that has triggered the Incidental Registration to be
filed, as the case may be; second, the Registrable Securities to be offered for
the account of the Designated Holders pursuant to this Section 4, pro rata based
on the number of

                                       8

<PAGE>

Registrable Securities owned by each such Designated Holder; and third, any
other securities requested to be included in such offering.

                  (b)      Expenses. The Company shall bear all Registration
Expenses in connection with any Incidental Registration pursuant to this Section
4, whether or not such Incidental Registration becomes effective.

         5.       Holdback Agreements.

                  (a)      Restrictions on Public Sale by Designated Holders. To
the extent (i) requested (A) by the Company or the Initiating Holders, as the
case may be, in the case of a non-underwritten public offering and (B) by the
Approved Underwriter or the Company Underwriter, as the case may be, in the case
of an underwritten public offering and (ii) all of the Company's officers,
directors and holders in excess of one percent (1%) of its outstanding capital
stock execute agreements identical to those referred to in this Section 5(a),
each Designated Holder agrees (x) not to effect any public sale or distribution
of any Registrable Securities or of any securities convertible into or
exchangeable or exercisable for such Registrable Securities, including a sale
pursuant to Rule 144 under the Securities Act, or offer to sell, contract to
sell (including without limitation any short sale), grant any option to purchase
or enter into any hedging or similar transaction with the same economic effect
as a public sale any Registrable Securities and (y) not to make any request for
a Demand Registration under this Agreement, during the ninety (90) day period or
such shorter period, if any, mutually agreed upon by such Designated Holder and
the requesting party beginning on the effective date of the Registration
Statement (except as part of such registration) for such public offering. No
Designated Holder of Registrable Securities subject to this Section 5(a) shall
be released from any obligation under any agreement, arrangement or
understanding entered into pursuant to this Section 5(a) unless all other
Designated Holders of Registrable Securities subject to the same obligation are
also released. All Designated Holders of Registrable Securities shall be
automatically released from any obligations under any agreement, arrangement or
understanding entered into pursuant to this Section 5(a) immediately upon the
expiration of the 90 day period.

                  (b)      Restrictions on Public Sale by the Company. The
Company agrees not to effect any public sale or distribution of any of its
securities, or any securities convertible into or exchangeable or exercisable
for such securities (except pursuant to registrations on Form S-4 or S-8 or any
successor thereto), during the period beginning on the effective date of any
Registration Statement in which the Designated Holders of Registrable Securities
are participating and ending on the earlier of (i) the date on which all
Registrable Securities registered on such Registration Statement are sold and
(ii) 120 days after the effective date of such Registration Statement (except as
part of such registration).

         6.       Registration Procedures.

                  (a)      Obligations of the Company. Whenever registration of
Registrable Securities has been requested pursuant to Section 3 or Section 4 of
this Agreement, the Company shall use all commercially reasonable efforts to
effect the registration and sale of such Registrable Securities in accordance
with the intended method of distribution thereof as quickly

                                       9

<PAGE>

as practicable, and in connection with any such request, the Company shall, as
expeditiously as possible:

                           (i)      prepare and file with the Commission a
Registration Statement on any form for which the Company then qualifies or which
counsel for the Company shall deem appropriate and which form shall be available
for the sale of such Registrable Securities in accordance with the intended
method of distribution thereof, and cause such Registration Statement to become
effective; provided, however, that (x) before filing a Registration Statement or
prospectus or any amendments or supplements thereto, the Company shall provide
counsel selected by the Designated Holders holding a majority of the Registrable
Securities being registered in such registration ("Holders' Counsel") with an
adequate opportunity to review and comment on such Registration Statement and
each prospectus included therein (and each amendment or supplement thereto) to
be filed with the Commission, subject to such documents being under the
Company's control, and (y) the Company shall notify the Holders' Counsel and
each seller of Registrable Securities of any stop order issued or threatened by
the Commission and take all action required to prevent the entry of such stop
order or to remove it if entered;

                           (ii)     prepare and file with the Commission such
amendments and supplements to such Registration Statement and the prospectus
used in connection therewith as may be necessary to keep such Registration
Statement effective for the lesser of (x) 120 days and (y) such shorter period
which will terminate when all Registrable Securities covered by such
Registration Statement have been sold, and comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such
Registration Statement during such period in accordance with the intended
methods of disposition by the sellers thereof set forth in such Registration
Statement;

                           (iii)    furnish to each seller of Registrable
Securities, prior to filing a Registration Statement, at least one copy of such
Registration Statement as is proposed to be filed, and thereafter such number of
copies of such Registration Statement, each amendment and supplement thereto (in
each case including all exhibits thereto), and the prospectus included in such
Registration Statement (including each preliminary prospectus) and any
prospectus filed under Rule 424 under the Securities Act as each such seller may
reasonably request in order to facilitate the disposition of the Registrable
Securities owned by such seller;

                           (iv)     register or qualify such Registrable
Securities under such other securities or "blue sky" laws of such jurisdictions
as any seller of Registrable Securities may request, and to continue such
qualification in effect in such jurisdiction for as long as permissible pursuant
to the laws of such jurisdiction, or for as long as any such seller requests or
until all of such Registrable Securities are sold, whichever is shortest, and do
any and all other acts and things which may be reasonably necessary or advisable
to enable any such seller to consummate the disposition in such jurisdictions of
the Registrable Securities owned by such seller; provided, however, that the
Company shall not be required to (x) qualify generally to do business in any
jurisdiction where it would not otherwise be required to qualify but for this
Section 6(a)(iv), (y) subject itself to taxation in any such jurisdiction or (z)
consent to general service of process in any such jurisdiction;

                                       10

<PAGE>

                           (v)      notify each seller of Registrable Securities
at any time when a prospectus relating thereto is required to be delivered under
the Securities Act, upon discovery that, or upon the happening of any event as a
result of which, the prospectus included in such Registration Statement contains
an untrue statement of a material fact or omits to state any material fact
required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading and the
Company shall promptly prepare a supplement or amendment to such prospectus and
furnish to each seller of Registrable Securities a reasonable number of copies
of such supplement to or an amendment of such prospectus as may be necessary so
that, after delivery to the purchasers of such Registrable Securities, such
prospectus shall not contain an untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the
statements therein, in light of the circumstances under which they were made,
not misleading;

                           (vi)     enter into and perform customary agreements
(including an underwriting agreement containing representations, warranties,
covenants and indemnities for securities law matters and otherwise in customary
form with the Approved Underwriter or Company Underwriter, if any, selected as
provided in Section 3 or Section 4, as the case may be) and take such other
actions as are prudent and reasonably required in order to expedite or
facilitate the disposition of such Registrable Securities, including causing its
officers to participate in "road shows" and other information meetings organized
by the Approved Underwriter or Company Underwriter;

                           (vii)    make available at reasonable times for
inspection by any seller of Registrable Securities, any managing underwriter
participating in any disposition of such Registrable Securities pursuant to a
Registration Statement, Holders' Counsel and any attorney, accountant or other
agent retained by any such seller or any managing underwriter (each, an
"Inspector" and collectively, the "Inspectors"), all financial and other
records, pertinent corporate documents and properties of the Company and its
subsidiaries (collectively, the "Records") as shall be reasonably necessary to
enable them to exercise their due diligence responsibility, and cause the
Company's and its subsidiaries' officers, directors and employees, and the
independent public accountants of the Company, to supply all information
reasonably requested by any such Inspector in connection with such Registration
Statement. Records that the Company determines, in good faith, to be
confidential and which it notifies the Inspectors are confidential shall not be
disclosed by the Inspectors (and the Inspectors shall confirm their agreement in
writing in advance to the Company if the Company shall so request) unless (x)
the disclosure of such Records is necessary, in the Company's judgment, to avoid
or correct a misstatement or omission in the Registration Statement, (y) the
release of such Records is ordered pursuant to a subpoena or other order from a
court of competent jurisdiction after exhaustion of all appeals therefrom or (z)
the information in such Records was known to the Inspectors on a
non-confidential basis prior to its disclosure by the Company or has been made
generally available to the public. Each seller of Registrable Securities agrees
that it shall, upon learning that disclosure of such Records is sought in a
court of competent jurisdiction, give notice to the Company and allow the
Company, at the Company's expense, to undertake appropriate action to prevent
disclosure of the Records deemed confidential;

                           (viii)   if such sale is pursuant to an underwritten
offering, obtain a "cold comfort" letters dated the effective date of the
Registration Statement and the date of the closing

                                       11

<PAGE>

under the underwriting agreement from the Company's independent public
accountants in customary form and covering such matters of the type customarily
covered by "cold comfort" letters as the managing underwriter reasonably
requests;

                           (ix)     furnish, at the request of any seller of
Registrable Securities on the date such securities are delivered to the
underwriters for sale pursuant to such registration or, if such securities are
not being sold through underwriters, on the date the Registration Statement with
respect to such securities becomes effective, an opinion, if reasonably
available, dated such date, of counsel representing the Company for the purposes
of such registration, addressed to the underwriters, if any, and to the seller
making such request, covering such legal matters with respect to the
registration in respect of which such opinion is being given as the
underwriters, if any, and such seller may reasonably request and are customarily
included in such opinions;

                           (x)      comply with all applicable rules and
regulations of the Commission, and make available to its security holders, as
soon as reasonably practicable but no later than fifteen (15) months after the
effective date of the Registration Statement, an earnings statement covering a
period of twelve (12) months beginning after the effective date of the
Registration Statement, in a manner which satisfies the provisions of Section
11(a) of the Securities Act and Rule 158 thereunder;

                           (xi)     cause all such Registrable Securities to be
listed on each securities exchange on which similar securities issued by the
Company are then listed, provided that the applicable listing requirements are
satisfied;

                           (xii)    cooperate with each seller of Registrable
Securities and each underwriter participating in the disposition of such
Registrable Securities and their respective counsel in connection with any
filings required to be made with the NASD; and

                           (xiii)   take all other steps reasonably necessary to
effect the registration of the Registrable Securities contemplated hereby.

                  (b)      Seller Information. The Company may require each
seller of Registrable Securities as to which any registration is being effected
to furnish, and such seller shall furnish, to the Company such information
regarding the distribution of such securities as the Company may from time to
time reasonably request in writing.

                  (c)      Notice to Discontinue. Each Designated Holder agrees
that, upon receipt of any notice from the Company of the happening of any event
of the kind described in Section 6(a)(v), such Designated Holder shall forthwith
discontinue disposition of Registrable Securities pursuant to the Registration
Statement covering such Registrable Securities until such Designated Holder's
receipt of the copies of the supplemented or amended prospectus contemplated by
Section 6(a)(v) and, if so directed by the Company, such Designated Holder shall
deliver to the Company (at the Company's expense) all copies, other than
permanent file copies then in such Designated Holder's possession, of the
prospectus covering such Registrable Securities which is current at the time of
receipt of such notice. If the Company shall give any such notice, the Company
shall extend the period during which such Registration Statement shall be
maintained effective pursuant to this Agreement (including, without limitation,
the period

                                       12

<PAGE>

referred to in Section 6(a)(ii)) by the number of days during the period from
and including the date of the giving of such notice pursuant to Section 6(a)(v)
to and including the date when sellers of such Registrable Securities under such
Registration Statement shall have received the copies of the supplemented or
amended prospectus contemplated by and meeting the requirements of Section
6(a)(v).

                  (d)      Registration Expenses. The Company shall pay all
expenses arising from or incident to its performance of, or compliance with,
this Agreement, including, without limitation, (i) Commission, stock exchange
and NASD registration and filing fees, (ii) all fees and expenses incurred in
complying with securities or "blue sky" laws (including reasonable fees, charges
and disbursements of counsel to any underwriter incurred in connection with
"blue sky" qualifications of the Registrable Securities as may be set forth in
any underwriting agreement), (iii) all printing, messenger and delivery expenses
and (iv) the fees, charges and expenses of counsel to the Company and of its
independent public accountants and any other accounting fees, charges and
expenses incurred by the Company (including, without limitation, any expenses
arising from any "cold comfort" letters or any special audits incident to or
required by any registration or qualification) and any reasonable legal fees,
charges and expenses incurred by one counsel for the General Atlantic
Stockholders. All of the expenses described in the preceding sentence of this
Section 6(d) are referred to herein as "Registration Expenses." The Designated
Holders of Registrable Securities sold pursuant to a Registration Statement
shall bear the expense of any underwriter's discount or commission relating to
registration and sale of such Designated Holders' Registrable Securities.

         7.       Indemnification; Contribution.

                  (a)      Indemnification by the Company. The Company agrees to
indemnify and hold harmless each Designated Holder, its partners, directors,
officers, affiliates and each Person who controls (within the meaning of Section
15 of the Securities Act) such Designated Holder from and against any and all
losses, claims, damages, liabilities and expenses (including reasonable costs of
investigation) (each, a "Liability" and collectively, "Liabilities"), arising
out of or based upon any untrue, or allegedly untrue, statement of a material
fact contained in any Registration Statement, prospectus or preliminary
prospectus (as amended or supplemented if the Company shall have furnished any
amendments or supplements thereto) or arising out of or based upon any omission
or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein not misleading in the light
of the circumstances under which such statements were made, except insofar as
such Liability arises out of or is based upon any untrue statement or alleged
untrue statement or omission or alleged omission contained in such Registration
Statement, preliminary prospectus or final prospectus in reliance and in
conformity with information concerning such Designated Holder furnished in
writing to the Company by such Designated Holder expressly for use therein,
including, without limitation, the information furnished to the Company pursuant
to Section 7(b). The Company shall also provide customary indemnities to any
underwriters of the Registrable Securities, their officers, directors and
employees and each Person who controls such underwriters (within the meaning of
Section 15 of the Securities Act) to the same extent as provided above with
respect to the indemnification of the Designated Holders of Registrable
Securities.

                                       13

<PAGE>

                  (b)      Indemnification by Designated Holders. In connection
with any Registration Statement in which a Designated Holder is participating
pursuant to Section 3 or Section 4 hereof, each such Designated Holder shall
promptly furnish to the Company in writing such information with respect to such
Designated Holder as the Company may reasonably request or as may be required by
law for use in connection with any such Registration Statement or prospectus and
all information required to be disclosed in order to make the information
previously furnished to the Company by such Designated Holder not materially
misleading or necessary to cause such Registration Statement not to omit a
material fact with respect to such Designated Holder necessary in order to make
the statements therein not misleading. Each Designated Holder agrees to
indemnify and hold harmless the Company, each of its directors, each of its
officers who has signed the Registration Statement, any underwriter retained by
the Company and each Person who controls the Company or such underwriter (within
the meaning of Section 15 of the Securities Act) to the same extent as the
foregoing indemnity from the Company to the Designated Holders, but only if such
statement or alleged statement or omission or alleged omission was made in
reliance upon and in conformity with information with respect to such Designated
Holder furnished in writing to the Company by such Designated Holder expressly
for use in such Registration Statement or prospectus, including, without
limitation, the information furnished to the Company pursuant to this Section
7(b); provided, however, that the total amount to be indemnified by such
Designated Holder pursuant to this Section 7(b) shall be limited to the net
proceeds (after deducting the underwriters' discounts and commissions) received
by such Designated Holder in the offering to which the Registration Statement or
prospectus relates.

                  (c)      Conduct of Indemnification Proceedings. Any Person
entitled to indemnification hereunder (the "Indemnified Party") agrees to give
prompt written notice to the indemnifying party (the "Indemnifying Party") after
the receipt by the Indemnified Party of any written notice of the commencement
of any action, suit, proceeding or investigation or threat thereof made in
writing for which the Indemnified Party intends to claim indemnification or
contribution pursuant to this Agreement; provided, however, that the failure so
to notify the Indemnifying Party shall not relieve the Indemnifying Party of any
Liability that it may have to the Indemnified Party hereunder (except to the
extent that the Indemnifying Party is materially prejudiced or otherwise
forfeits substantive rights or defenses by reason of such failure). If notice of
commencement of any such action is given to the Indemnifying Party as above
provided, the Indemnifying Party shall be entitled to participate in and, to the
extent it may wish, jointly with any other Indemnifying Party similarly
notified, to assume the defense of such action at its own expense, with counsel
chosen by it and reasonably satisfactory to such Indemnified Party. The
Indemnified Party shall have the right to employ separate counsel in any such
action and participate in the defense thereof, but the fees and expenses of such
counsel shall be paid by the Indemnified Party unless (i) the Indemnifying Party
agrees to pay the same, (ii) the Indemnifying Party fails to assume the defense
of such action with counsel reasonably satisfactory to the Indemnified Party or
(iii) the named parties to any such action (including any impleaded parties)
include both the Indemnifying Party and the Indemnified Party and such parties
have been advised by such counsel that either (x) representation of such
Indemnified Party and the Indemnifying Party by the same counsel would be
inappropriate under applicable standards of professional conduct or (y) there
may be one or more legal defenses available to the Indemnified Party which are
different from or additional to those available to the Indemnifying Party. In
any of such cases, the Indemnifying Party shall not have the right to assume
the

                                       14

<PAGE>

defense of such action on behalf of such Indemnified Party, it being
understood, however, that the Indemnifying Party shall not be liable for the
fees and expenses of more than one separate firm of attorneys (in addition to
any local counsel) for all Indemnified Parties. No Indemnifying Party shall be
liable for any settlement entered into without its written consent, which
consent shall not be unreasonably withheld. No Indemnifying Party shall, without
the consent of such Indemnified Party, effect any settlement of any pending or
threatened proceeding in respect of which such Indemnified Party is a party and
indemnity has been sought hereunder by such Indemnified Party, unless such
settlement includes an unconditional release of such Indemnified Party from all
liability for claims that are the subject matter of such proceeding.

                  (d)      Contribution. If the indemnification provided for in
this Section 7 from the Indemnifying Party is unavailable to an Indemnified
Party hereunder in respect of any Liabilities referred to herein, then the
Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall
contribute to the amount paid or payable by such Indemnified Party as a result
of such Liabilities in such proportion as is appropriate to reflect the relative
fault of the Indemnifying Party and Indemnified Party in connection with the
actions which resulted in such Liabilities, as well as any other relevant
equitable considerations. The relative faults of such Indemnifying Party and
Indemnified Party shall be determined by reference to, among other things,
whether any action in question, including any untrue or alleged untrue statement
of a material fact or omission or alleged omission to state a material fact, has
been made by, or relates to information supplied by, such Indemnifying Party or
Indemnified Party, and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such action. The amount paid
or payable by a party as a result of the Liabilities referred to above shall be
deemed to include, subject to the limitations set forth in Sections 7(a), 7(b)
and 7(c), any legal or other fees, charges or expenses reasonably incurred by
such party in connection with any investigation or proceeding; provided that the
total amount to be contributed by such Designated Holder shall be limited to the
net proceeds (after deducting the underwriters' discounts and commissions)
received by such Designated Holder in the offering.

                  The parties hereto agree that it would not be just and
equitable if contribution pursuant to this Section 7(d) were determined by pro
rata allocation or by any other method of allocation which does not take account
of the equitable considerations referred to in the immediately preceding
paragraph. No Person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Securities Act) shall be entitled to contribution from
any Person who was not guilty of such fraudulent misrepresentation.

         8.       Rule 144. The Company covenants that it shall (a) file any
reports required to be filed by it under the Exchange Act and (b) take such
further action as each Designated Holder may reasonably request (including
providing any information necessary to comply with Rule 144 under the Securities
Act), all to the extent required from time to time to enable such Designated
Holder to sell Registrable Securities without registration under the Securities
Act within the limitation of the exemptions provided by (i) Rule 144 under the
Securities Act, as such rule may be amended from time to time or (ii) any
similar rules or regulations hereafter adopted by the Commission. The Company
shall, upon the request of any Designated Holder, deliver to such Designated
Holder a written statement as to whether it has complied with such requirements.

                                       15

<PAGE>

         9.       Miscellaneous.

                  (a)      Recapitalizations, Exchanges, etc. The provisions of
this Agreement shall apply to the full extent set forth herein with respect to
(i) the shares of Common Stock, (ii) any and all shares of voting common stock
of the Company into which the shares of Common Stock are converted, exchanged or
substituted in any recapitalization or other capital reorganization by the
Company and (iii) any and all equity securities of the Company or any successor
or assign of the Company (whether by merger, consolidation, sale of assets or
otherwise) which may be issued in respect of, in conversion of, in exchange for
or in substitution of, the shares of Common Stock and shall be appropriately
adjusted for any stock dividends, splits, reverse splits, combinations,
recapitalizations and the like occurring after the date hereof. The Company
shall use all commercially reasonable efforts to cause any successor or assign
(whether by merger, consolidation, sale of assets or otherwise) to enter into a
new registration rights agreement with the Designated Holders on terms
substantially the same as this Agreement as a condition of any such transaction.

                  (b)      No Inconsistent Agreements. The Company shall not
enter into any agreement with respect to its securities that is inconsistent
with the rights granted to the Designated Holders in this Agreement or grant any
additional registration rights to any Person or with respect to any securities
which are not Registrable Securities which are prior in right to or inconsistent
with the rights granted in this Agreement.

                  (c)      Remedies. The Designated Holders, in addition to
being entitled to exercise all rights granted by law, including recovery of
damages, shall be entitled to specific performance of their rights under this
Agreement. The Company agrees that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of the provisions
of this Agreement and hereby agrees to waive in any action for specific
performance the defense that a remedy at law would be adequate.

                  (d)      Amendments and Waivers. Except as otherwise provided
herein, the provisions of this Agreement may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof
may not be given unless consented to in writing by (i) the Company and (ii) the
General Atlantic Stockholders, Coinvestor Stockholders and Vectis Stockholders
holding Registrable Securities representing (after giving effect to any
adjustments) at least a majority of the aggregate number of Registrable
Securities owned by all of the General Atlantic Stockholders, Coinvestor
Stockholders and Vectis Stockholders; provided, however, that to the extent any
amendment or waiver shall adversely affect any of the Stockholders, such
amendment or waiver shall require the prior written consent of each Stockholder
so adversely affected. Any such written consent shall be binding upon the
Company and all of the Designated Holders.

                  (e)      Notices. All notices, demands and other
communications provided for or permitted hereunder shall be made in writing and
shall be made by registered or certified first-class mail, return receipt
requested, telecopier, courier service or personal delivery:

                                       16

<PAGE>

                                (i) if to the Company:

                                    Critical Path, Inc.
                                    532 Folsom Street
                                    San Francisco, CA 94105
                                    Telecopy: (415) 808-8898
                                    Attention: Chief Financial Officer

                                    with a copy to:

                                    Pillsbury Winthrop LLP
                                    50 Fremont Street
                                    San Francisco, CA  94105
                                    Telecopy:  (415) 983-1200
                                    Attention: Gregg F. Vignos, Esq.

                               (ii) if to the General Atlantic Stockholders:

                                    c/o General Atlantic Service Company
                                    3 Pickwick Plaza
                                    Greenwich, CT  06830
                                    Telecopy:  (203) 622-8818
                                    Attention:  Matthew Nimetz
                                                 Thomas J. Murphy

                                    with a copy to:

                                    Paul, Weiss, Rifkind, Wharton & Garrison LLP
                                    1285 Avenue of the Americas
                                    New York, NY 10019-6064
                                    Telecopy:  (212) 757-3990
                                    Attention: Douglas A. Cifu, Esq.

                              (iii) if to Campina, Great Affluent, Dragonfield
                              or Lion Cosmos:

                                    c/o 7th Floor
                                    Cheung Kong Center
                                    2 Queen's Road Central
                                    Hong Kong
                                    Telecopy:  (852) 2845-2057
                                    Attention:  Mr. Edmond Ip

                                       17

<PAGE>

                               (iv) if to Cenwell:

                                    c/o 22nd Floor
                                    Hutchison House
                                    10 Harcourt Road
                                    Hong Kong
                                    Telecopy:  (852) 2128-1778
                                    Attention:  Company Secretary

                                (v) if to Vectis:

                                    c/o Vectis Group, LLC
                                    117 Greenwich Street
                                    San Francisco, CA 94111
                                    Telecopy: 415-352-5310
                                    Attention: Matthew Hobart

                                    with a copy to:

                                    Kirkland & Ellis
                                    153 East 53rd Street
                                    New York, NY 10022-4675
                                    Telecopy: 212-446-4900
                                    Attention: Michael Movsovich, Esq.

                               (vi) if to any other Designated Holder, at its
                                    address as it appears on the record books of
                                    the Company.

         All such notices, demands and other communications shall be deemed to
have been duly given when delivered by hand, if personally delivered; when
delivered by courier, if delivered by commercial courier service; five (5)
Business Days after being deposited in the mail, postage prepaid, if mailed; and
when receipt is mechanically acknowledged, if telecopied. Any party may by
notice given in accordance with this Section 9(e) designate another address or
Person for receipt of notices hereunder.

                  (f)      Successors and Assigns; Third Party Beneficiaries.
This Agreement shall inure to the benefit of and be binding upon the successors
and permitted assigns of the parties hereto as hereinafter provided. The Demand
Registration rights and related rights of the General Atlantic Stockholders or
the Coinvestor Stockholders contained in Section 3 hereof shall be (i) with
respect to any Registrable Security that is transferred to an Affiliate of a
General Atlantic Stockholder or a Coinvestor Stockholder, automatically
transferred to such Affiliate and (ii) with respect to any Registrable Security
that is transferred in all cases to a non-Affiliate, transferred only with the
consent of the Company which consent shall not be unreasonably withheld,
conditioned or delayed. The incidental or "piggy-back" registration rights of
the Designated Holders contained in Sections 3(b) and 4 hereof and the other
rights of each of the Designated Holders with respect thereto shall be, with
respect to any Registrable Security, automatically transferred to any Person who
is the transferee of such Registrable Security so long as such

                                       18

<PAGE>

transferee agrees to be bound by this Agreement. All of the obligations of the
Company hereunder shall survive any such transfer. Except as provided in Section
7, no Person other than the parties hereto and their successors and permitted
assigns is intended to be a beneficiary of this Agreement.

                  (g)      Counterparts. This Agreement may be executed in any
number of counterparts and by the parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and all of which
taken together shall constitute one and the same agreement.

                  (h)      Headings. The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the
meaning hereof.

                  (i)      GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY
AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT
REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW THEREOF.

                  (j)      Severability. If any one or more of the provisions
contained herein, or the application thereof in any circumstance, is held
invalid, illegal or unenforceable in any respect for any reason, the validity,
legality and enforceability of any such provision in every other respect and of
the remaining provisions hereof shall not be in any way impaired, unless the
provisions held invalid, illegal or unenforceable shall substantially impair the
benefits of the remaining provisions hereof.

                  (k)      Rules of Construction. Unless the context otherwise
requires, references to sections or subsections refer to sections or subsections
of this Agreement.

                  (l)      Entire Agreement. This Agreement is intended by the
parties as a final expression of their agreement and intended to be a complete
and exclusive statement of the agreement and understanding of the parties hereto
with respect to the subject matter contained herein. There are no restrictions,
promises, representations, warranties or undertakings with respect to the
subject matter contained herein, other than those set forth or referred to
herein. Subject to Section 9(o), upon the Subsequent Closing (as defined in the
Convertible Note Purchase and Exchange Agreement), this Agreement shall
supersede all prior agreements and understandings among the parties with respect
to such subject matter.

                  (m)      Further Assurances. Each of the parties shall execute
such documents and perform such further acts as may be reasonably required or
desirable to carry out or to perform the provisions of this Agreement.

                  (n)      Other Agreements. Nothing contained in this Agreement
shall be deemed to be a waiver of, or release from, any obligations any party
hereto may have under, or any restrictions on the transfer of Registrable
Securities or other securities of the Company imposed by, any other agreement
including, but not limited to, the Stock Purchase Agreement, the Convertible
Note Purchase and Exchange Agreement or the Amended and Restated Stockholders
Agreement.

                                       19

<PAGE>

                  (o)      Effective Date and Termination. Notwithstanding
anything in this Agreement to the contrary, this Agreement shall become
effective immediately following the Subsequent Closing. If the Subsequent
Closing does not occur and the obligation to consummate the Conversion and the
Exchange (each as defined in the Convertible Note Purchase Agreement) has been
terminated pursuant to Article IX of the Convertible Note Purchase and Exchange
Agreement, this Agreement shall immediately terminate and be of no further force
or effect.

              [the remainder of this page intentionally left blank]

                                       20

<PAGE>

         IN WITNESS WHEREOF, the undersigned have executed, or have caused to be
executed, this Amended and Restated Registration Rights Agreement on the date
first written above.

                                    CRITICAL PATH, INC.

                                    By:  /s/ Michael J. Zukerman
                                        _____________________________________
                                        Name: Michael J. Zukerman
                                        Title: Senior Vice President and
                                               General Counsel

      SIGNATURE PAGE TO AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

<PAGE>
                                    GENERAL ATLANTIC PARTNERS 74, L.P.

                                    By: GENERAL ATLANTIC PARTNERS, LLC,
                                        its General Partner

                                    By:  /s/ Matthew Nimetz
                                        _____________________________________
                                        Name: Matthew Nimetz
                                        Title: A Managing Member

                                    GAP COINVESTMENT PARTNERS II, L.P.

                                    By:  /s/ Matthew Nimetz
                                        _____________________________________
                                        Name: Matthew Nimetz
                                        Title: A General Partner

                                    GAPSTAR, LLC

                                    By:  GENERAL ATLANTIC PARTNERS, LLC,
                                         its Managing Member

                                    By:   /s/ Matthew Nimetz
                                         _________________________________
                                         Name: Matthew Nimetz
                                         Title: A Managing Member

                                    GAPCO GMBH & CO. KG

                                    By: GAPCO MANAGEMENT GMBH,
                                        its General Partner

                                    By:  /s/ Matthew Nimetz
                                        _________________________________
                                        Name: Matthew Nimetz
                                        Title: A Managing Director

      SIGNATURE PAGE TO AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

<PAGE>
                                    By: VECTIS GROUP, LLC
                                        its Managing Member

                                    By:  /s/ Matthew T. Hobart
                                        _____________________________________
                                        Name: Matthew T. Hobart
                                        Title: Managing Director

      SIGNATURE PAGE TO AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT
<PAGE>

                                    CENWELL LIMITED

                                    By:  /s/ Ip Tak Chuen, Edmond
                                        _____________________________________
                                        Name: Ip Tak Chuen, Edmond
                                        Title: Authorised Person

                                    CAMPINA ENTERPRISES LIMITED

                                    By:  /s/ Ip Tak Chuen, Edmond
                                        _____________________________________
                                        Name: Ip Tak Chuen, Edmond
                                        Title: Director

                                    GREAT AFFLUENT LIMITED

                                    By: /s/ Ip Tak Chuen, Edmond
                                        _____________________________________
                                        Name: Ip Tak Chuen, Edmond
                                        Title: Director

                                    DRAGONFIELD LIMITED

                                    By:  /s/ Pau Yee Wan, Ezra
                                        _____________________________________
                                        Name: Pau Yee Wan, Ezra
                                        Title: Authorised Person

                                    LION COSMOS LIMITED

                                    By:  /s/ Pau Yee Wan, Ezra
                                        _____________________________________
                                        Name: Pau Yee Wan, Ezra
                                        Title: Director

      SIGNATURE PAGE TO AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

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