Document:

Unassociated Document

    EXHIBIT
      10.4

     

    
      EXECUTIVE
        EMPLOYMENT AGREEMENT

      

      

      THIS
        EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”),
        is
        entered into this 3rd
        day of
        February, 2006, by and between Nayna Networks, Inc., a Nevada corporation
        (the
“Company”),
        and
        Gautam Chanda (the “Executive”),
        and
        shall be retroactively effective as of January 2, 2006 (the “Effective
        Date”).
        

      

      W
        I T N E
        S S E T H:

      

      WHEREAS,
        the Company and the Executive desire to memorialize the terms of their agreement
        regarding the Executive’s employment with the Company, as set forth below;
        and

      

      WHEREAS,
        the Company wishes to continue to employ the Executive, and the Executive
        desires to continue in the employ of the Company, upon the terms and conditions
        of this Agreement.

      

      NOW,
        THEREFORE, in consideration of the foregoing, of the mutual promises herein,
        and
        of other good and valuable consideration, including the employment of the
        Executive by the Company and the compensation to be received by the Executive
        from the Company from time to time, and specifically the compensation to
        be
        received by the Executive pursuant to Section 4 hereof, the receipt and
        sufficiency of which are hereby acknowl-edged, the parties hereto, intending
        legally to be bound, hereby agree as follows:

      

      1.    Employment.
        The
        Company hereby employs the Executive and the Executive hereby accepts employment
        as Senior Vice President, Business Development and Operations of the Company
        upon the terms and conditions of this Agreement.

      

      2.    Duties.
        The
        Executive shall faithfully perform all duties of the Company related to the
        position or positions held by the Executive, including but not limited to
        all
        duties set forth in this Agreement and/or in the Bylaws of the Company related
        to the position or positions held by the Executive and all additional duties
        that are prescribed from time to time by the President of the Company. The
        Executive shall devote the Executive’s full time and attention to the
        performance of the Executive’s duties and responsibilities on behalf of the
        Company and in furtherance of its best interests. The Executive shall comply
        with all Company policies, standards, rules and regulations (the “Company Policies”)
        and
        all applicable government laws, rules and regulations that are now or hereafter
        in effect. The Executive acknowledges receipt of copies of all written Company
        Policies that are in effect as of the date of this Agreement.

      

      3.    Term.
        Unless
        earlier terminated as provided herein, the initial term of this Agreement
        shall
        commence on the Effective Date and shall
        continue until the one-year anniversary of the Effective Date. Thereafter,
        this
        Agreement shall automatically renew on a year-to-year basis on the same terms
        and conditions set forth herein unless earlier terminated or amended as provided
        herein. The initial term of this Agreement and all renewals thereof are referred
        to herein as the “Term.”

       

      
        
          
          

        

        
          -1-

          
            

          

        

        
          
          

        

      

      

      4.    Compensation.
        During
        the Term, as compensation for the services rendered by the Executive under
        this
        Agreement, the Executive shall be entitled to receive the following (all
        payments are subject to applicable withholdings):

      

      (a)    Base
        Salary.
        The
        Executive shall receive an annual salary of $150,000 payable in accordance
        with
        the then-current payroll policies of the Company or as otherwise agreed to
        by
        the parties. The Executive’s salary may be increased from time to time by the
        Compensation Committee of the Board of Directors.

      

      (b)    Bonuses.
        The
        Executive shall be eligible to participate in all bonus or profit sharing
        plans
        adopted by the Board of Directors (the “Board”)
        or any
        committee administering such plan. The amount awarded to the Executive under
        any
        profit sharing or bonus plan shall be in the discretion of the Board or any
        committee administering such plan, based on its assessment of the Executive’s
        and the Company’s performance during the relevant period.

      

      (c)    Benefits.
        The
        Executive shall be entitled to receive those benefits provided from time
        to time
        to other executive employees of the Company, in
        accordance with the terms and conditions of the applicable plan documents;
        provided that, the Executive meets the eligibility requirements thereof.
        All
        such benefits are subject to amendment or termination from time to time by
        the
        Company without the consent of the Executive or any other employ-ee of the
        Company.

      

      5.    Termination.
        This
        Agreement and the Executive’s employment by the Company shall or may be
        terminated, as the case may be, as follows:

      

      (a)    Termination
        upon Expiration of the Term.
        This
        Agreement and the Executive’s employment by the Company shall terminate upon the
        expiration of the Term.

      

      (b)    Termination
        by the Executive.
        The
        Executive may terminate this Agreement and his employment by the Company
        at any
        time and for any reason, with or without notice.

      

      (c)    Termination
        by the Company.
        The
        Company may terminate this Agreement and the Executive’s employment by the
        Company:

      

      (i)    at
        any
        time and for any reason (other than “for cause” (as defined herein));
        and

       

      (ii)    for
        cause. As used herein, “for
        cause”
shall
        mean:

      

      (1)    Any
        material breach of the terms of this Agreement by the Executive, or the failure
        of the Executive to diligently and properly perform the Executive’s duties for
        the Company or the Executive’s failure to achieve the objectives specified by
        the Board;

       

      
        
          
          

        

        
          -2-

          
            

          

        

        
          
          

        

      

      

      (2)    The
        Executive’s misappropriation or unauthorized use of the Company’s tangible or
        intangible property, or breach of the Proprietary Information Agreement (as
        defined herein);

      

      (3)    The
        Executive’s use of illegal drugs or any illegal substance, or the Executive’s
        use of alcohol in any manner that materially interferes with the performance
        of
        the Executive’s duties under this Agreement;

      

      (4)    Any
        dishonest or illegal action (including, without limitation, embezzlement)
        or any
        other action whether or not dishonest or illegal by the Executive which is
        materially detrimental to the interest and well-being of the Company, including,
        without limitation, harm to its reputation;

      

      (5)    The
        Executive’s failure to fully disclose any material conflict of interest the
        Executive may have with the Company in a transaction between the Company
        and any
        third party which is materially detrimental to the interest and well-being
        of
        the Company;

      

      (6)    Any
        adverse action or omission by the Executive which would be required to be
        disclosed pursuant to public securities laws or which would limit the ability
        of
        the Company or any entity affiliated with the Company to sell securities
        under
        any Federal or state law or which would disqualify the Company or any affiliated
        entity from any exemption otherwise available to it; or

       

      (7)    The
        Executive’s violation of the Company’s Policies, including without limitation,
        the Company’s Policies prohibiting harassment, unlawful discrimination,
        retaliation or workplace violence.

      

      (d)    Obligations
        of the Company Upon Termination.

      

      (i)    Upon
        the
        termination of this Agreement: (a) pursuant to the expiration of the Term;
        (b)
        by the Executive pursuant to paragraph 5; or (c) by the Company pursuant
        to
        paragraph 5(c)(ii), the Company shall have no further obligations hereunder
        other than the payment of all compensation and other benefits payable to
        the
        Executive through the date of such termination.

      

      (ii)    Upon
        termination of this Agreement by the Company pursuant to paragraph 5(c)(i)
        and
        provided the Executive executes a Release and Settlement Agreement in a form
        acceptable to the Company: (1) the Company shall pay the Executive an amount
        equal to six (6) months base salary (less all applicable deductions) payable
        in
        accordance with the then-current payroll policies of the Company or as otherwise
        agreed to by the parties; and (2) the vesting of shares subject to any
        outstanding options to purchase Company securities then held by the Executive,
        shall be accelerated in an amount equal to that which would have occurred
        had
        the Executive remained employed by the Company for an additional period of
        six
        (6) months.

      

      6.    Change
        of Control.
        Upon
        the occurrence of a Change of Control (as defined herein), the vesting of
        shares
        subject to any
        outstanding options to purchase Company securities then held by the Executive,
        shall be accelerated such that any and all shares subject to such options
        shall
        be immediately exercisable in full. For purposes of this Agreement, a
“Change
        of Control”
shall
        be deemed to have occurred:

       

      
        
          
          

        

        
          -3-

          
            

          

        

        
          
          

        

      

       

      (a)    If
        any
        person (as such term is used in sections 13(d) and 14(d) of the Securities
        Exchange Act of 1934, as amended (the “Exchange
        Act”))
        (other than the Company or any trustee or fiduciary holding securities under
        an
        employee benefit plan of the Company) becomes a beneficial owner (as defined
        in
        Rule 13d-3 under the Exchange Act), directly or indirectly, of securities
        of the
        Company representing 50% or more of the voting power of the then outstanding
        securities of the Company; provided that, a Change of Control shall not be
        deemed to occur as a result of a transaction in which the Company becomes
        a
        subsidiary of another corporation and in which the stockholders of the Company,
        immediately prior to the transaction, will beneficially own, immediately
        after
        the transaction, shares entitling such stockholders to more than 50% of all
        votes to which all stockholders of the parent corporation would be entitled
        in
        the election of directors (without consideration of the rights of any class
        of
        stock to elect directors by a separate class vote); or

       

      (b)    Upon
        the
        consummation of (i) a merger or consolidation of the Company with another
        corporation where the stockholders of the Company, immediately prior to the
        merger or consolidation, will not beneficially own, immediately after the
        merger
        or consolidation, shares entitling such stockholders to more than 50% of
        all
        votes to which all stockholders of the surviving corporation would be entitled
        in the election of directors (without consideration of the rights of any
        class
        of stock to elect directors by a separate class vote), or (ii) a sale or
        other
        disposition of all or substantially all of the assets of the
        Company. 

      

      7.    Proprietary
        Information Agreement.
        The
        terms of the Employee Inventions and Proprietary Rights Assignment Agreement
        by
        and between the Company and the Executive, dated May 6, 2004 (the “Proprietary
        Information Agreement”),
        are
        hereby incorporated by reference and are a material part of this
        Agreement.

      

      8.    Indemnification
        by the Executive.
        The
        Executive shall
        indemnify and hold harmless the Company, its directors, officers, stockholders,
        agents, and employees against all claims, costs, expenses, liabilities, and
        lost
        profits, including amounts paid in settlement, incurred by any of them as
        a
        result of the breach by the Executive of any provision of this
        Agreement.

       

      9.    Notices.
        All
        notices, requests, consents, approvals, and other communications to, upon,
        and
        between the parties shall be in writing and shall be deemed to have been
        given,
        delivered, made, and received when: (a) personally delivered; (b) deposited
        for
        next day delivery by FedEx, or other similar overnight courier services;
        (c)
        transmitted via telefacsimile or other similar device to the attention of
        the
        Company President or Chief Executive Officer with receipt acknowledged; or
        (d)
        three (3) days after being sent or mailed by certified mail, postage prepaid
        and
        return receipt requested, addressed to the Company at 4699 Old Ironsides
        Drive,
        Suite 420, Santa Clara, California 95054, Attention: Chair, Board of Directors,
        and to the Executive c/o the Company at 4699 Old Ironsides Drive, Suite 420,
        Santa Clara, California 95054.

       

      
        
          
          

        

        
          -4-

          
            

          

        

        
          
          

        

      

      

      10.    Effect.
        This
        Agreement shall be binding on and inure to the respective benefit of the
        Company
        and its successors and assigns and the Executive and his personal
        representatives.

      

      11.    Entire
        Agreement.
        This
        Agreement constitutes the entire agreement between the parties with respect
        to
        the matters set forth herein and supercedes all prior agreements and
        understandings between the parties with respect to the same.

      

      12.    Severability.
        The
        invalidity or unenforceability of any provision of this Agreement shall not
        affect the validity or enforceability of any other provision.

      

      13.    Amendment
        and Waiver.
        No
        provision of this Agreement, including the provisions of this Paragraph,
        may be
        amended, modified, deleted, or waived in any manner except by a written
        agreement executed by the parties.

      

      14.    No
        Assignment.
        Neither
        this Agreement nor any interest herein may be assigned by either party without
        the consent of the other party.

      

      15.    Governing
        Law.
        This
        Agreement shall be construed and enforced in accordance with the laws of
        the
        State of California, other than its rules with respect to choice of
        law.

      

      16.    Consent
        to Jurisdiction and Venue.
        Each of
        the parties agrees that any suit, action, or proceeding arising out of this
        Agreement may be instituted against it in the District Court of Santa Clara
        County, California or in the United States District Court for the Northern
        District of California (assuming that such court has subject matter jurisdiction
        over such suit, action or proceeding). Each of the parties hereby waives
        any
        objection that it may have to the venue of any such suit, action, or proceeding,
        and each of the parties hereby irrevocably consents to the personal jurisdiction
        of any such court in any such suit, action, or proceeding.

      

      17.    Counterparts.
        This
        Agreement may be executed in more than one counterpart, each of which shall
        be
        deemed an original, and all of which shall be deemed a single
        agreement.

      

      18.    Headings.
        The
        headings herein are for convenience only and shall not affect the interpretation
        of this Agreement.

      

      [Remainder
        of Page Intentionally Left Blank.]

       

      
        
          
          

        

        
          -5-

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the parties have executed this Employment Agreement as of
        the
        day and year first above written.

       

       

      Nayna
        Networks, Inc. 

       

      By:
        /s/ Naveen S.
        Bisht                                    

      Name:
        Naveen
        S.
        Bisht 

      Title:
        President and Chief Executive Officer

       

      /s/
        Gautam
        Chanda                                       

      Gautam
        Chanda

       

      
        	 	 	 	 
	 	 	 	 
	
                -6-Exhibit 10.8

                                EXCLUSIVE LICENSE

This License Agreement (the "License Agreement") is made the 4th day of April,
2003 between Vincent C. Giampapa, an individual with an address at c/o Plastic
Surgery Center, 89 Valley Road, Montclair, New Jersey 07042, New Jersey
("Giampapa") and Kronogen Sciences Inc. a corporation of the state of Delaware
having a place of business at 750 Lexington Avenue, 20th Floor, New York, New
York 10022 (hereinafter "KRONOGEN SCIENCES").

                                    RECITALS:

KRONOGEN SCIENCES is in the anti-aging/age management business (the "Business")
and is developing products and programs in connection therewith; and

Giampapa is the owner of certain patents and processes some of which relate to
the Business; and

Giampapa has transferred to KRONOGEN SCIENCES all of his intellectual property
related to the Business under or in connection with an Asset Transfer Agreement
dated as of April __, 2003 by and among, KRONOGEN SCIENCES, Giampapa and The
Giampapa Institute For Anti-Aging Medical Therapy ("Transfer Agreement"), except
that patents related to the Business shall be subject to the terms hereof; and

KRONOGEN SCIENCES desires to license from Giampapa, and Giampapa desires to
license to KRONOGEN SCIENCES, Giampapa's patents related to the Business under
the terms and conditions of this License Agreement.

In consideration of the mutual covenants, representations, warranties, and
promises of the parties hereto, the receipt and legal sufficiency of which is
hereby acknowledged, and intending to be legally bound hereby, the parties
hereto represent, warrant, covenant and agree as follows:

1. Incorporation of Recitals. The above recitals are incorporated herein as if
fully set forth below.

2. License Grant. Giampapa grants to KRONOGEN SCIENCES under the Licensed
Patents (defined below), and for the life of the Licensed Patents, an exclusive,
irrevocable, worldwide, transferable license, with the right to sublicense, to
practice the methods and to make, have made, use, offer to sell, sell, import,
export, and sell for export in connection with KRONOGEN SCIENCES' business the
inventions described or claimed in the Licensed Patents.

(a) "Licensed Patents" means all patents, reissues of and reexamined patents,
and patent applications, whenever filed and wherever issued, including without
limitation, continuations, continuations-in-part, substitutes, and divisions of
such applications and all priority rights resulting from such applications,
owned by Giampapa or for which Giampapa has the right to grant licenses of the
scope of the licensed granted in this License Agreement that are related to the
Business, including without limitation, the patents identified in Schedule 2(a).
Licensed Patents also includes without limitation, any discovery, idea, design,
or invention that (a) the unlicensed making, having made, use, offering to sell,
selling, importing, exporting, or selling for export of which would infringe one
or more of the Licensed Patents; (b) performs the same function as a product or
service that is subject to any of the Licensed Patents; (c) is useful or
necessary to KRONOGEN SCIENCES' exercise of its rights under this License
Agreement; or (d) uses, incorporates, is derived from, or is based on the
inventions described or claimed in the Licensed Patents or that could not be
conceived, developed, or reduced to practice but for the use of the inventions
described or claimed in the Licensed Patents.

3. Royalties.

(a) Certain Definitions.

(i) "Net Sales Price" means the amount actually received by KRONOGEN SCIENCES
for the sale of any Units, less (i) any amounts received for freight or taxes,
(ii) unreimbursed delivery or shipping costs, (iii) amounts paid for
commissions, (iv) refunds for returns and rejections and (v) any cash and trade
discounts and other credits and allowances.

(ii) "Units" means products manufactured by or on behalf of KRONOGEN SCIENCES
which include as a component thereof anything fabricated using the Licensed
Patents, in such minimum quantities as are packaged and sold at retail.

(b) Royalties on Sales. KRONOGEN SCIENCES will pay to Giampapa royalties as
follows:

(i) KRONOGEN SCIENCES shall pay Giampapa a royalty of 6% of the Net Sales Price
of Units sold by KRONOGEN SCIENCES that are developed by Giampapa for KRONOGEN
SCIENCES ("Royalties").

(ii) Royalties shall be due and payable to Giampapa based on each Unit actually
sold by KRONOGEN SCIENCES, less any returns and allowances. No Royalty will be
due and payable on any Units shipped as promotional product where KRONOGEN
SCIENCES does not receive any payment; KRONOGEN SCIENCES will endeavor to use
good business judgment in regard to these Units, it being acknowledged that the
parties' intention in connection therewith is to generate additional sales of
Units and/or goodwill.

(iii) Royalties due and payable hereunder shall be paid on a quarterly basis
within 45 days after the close of each calendar quarter and, shall be
accompanied by a written statement setting forth sales information in respect of
Units sold during such quarter.

(iv) Giampapa or his authorized certified public accountant shall have the right
to examine the books, accounts and records of KRONOGEN SCIENCES, from time to
time up to two times per year, at mutually agreed upon times and dates, to
ensure that the Royalty statements are complete, current and accurate in all
material respects and that any Royalties due hereunder have been paid to
Giampapa as required by this License Agreement.

4. Obligations, Agreements and Acknowledgements of Giampapa. Giampapa covenants
and agrees:

(a) Giampapa shall have no obligation or responsibility under this License
Agreement for the conduct of KRONOGEN SCIENCES' business, except as expressly
set forth in this License Agreement, it being acknowledged that Giampapa has
other obligations in respect of KRONOGEN SCIENCES pursuant to the Transfer
Agreement and the other agreements referred to therein and contemplated thereby;

(b) to permit KRONOGEN SCIENCES to use his photograph or likeness in marketing
the Units;

(c) to provide KRONOGEN SCIENCES with Patent Numbers, where applicable, on all
products licensed to KRONOGEN SCIENCES;

(d) to fully disclose to KRONOGEN SCIENCES, and to otherwise hold in strict
confidence, any discovery, idea, design, invention, work of authorship, or
trademark, service mark, trade name, trade dress, or other indicia of origin,
related to the Business, whether or not patentable and whether or not completed
or reduced to practice, that is conceived, developed or made by Giampapa, alone
or jointly with others during the term of this License Agreement, and any
component of any such thing (collectively "Work Product");

                                   Page 2 of 8
<PAGE>

(e) for the one year period following the disclosure in accordance with Section
4(d) of Work Product related to the Licensed Patents (the "Exclusive Period"),
to grant rights to such Work Product equal to the rights granted for Licensed
Patents by this License Agreement to KRONOGEN SCIENCES on such terms as the
parties may mutually agree and, for the one year period commencing immediately
upon expiration of the Exclusive Period, grant to KRONOGEN SCIENCES a right of
first refusal to acquire rights in such Work Product on terms no less favorable
than is offered to Giampapa by a bona fide third party;

(f) to not assert against KRONOGEN SCIENCES, or its vendees, mediate or
immediate, any claims for infringement of any patent based on the manufacture,
use, sale, offer for sale, or import of any apparatus made or sold by KRONOGEN
SCIENCES under the license granted in this License Agreement;

(g) KRONOGEN SCIENCES shall have the right to sell any Units under whatever
trademarks, trade names, trade dress, service marks and the like it shall deem
appropriate or advisable, and all trademarks, trade names, trade dress, service
marks and the like under which Units are sold shall remain the sole and
exclusive property of KRONOGEN SCIENCES;

(h) KRONOGEN SCIENCES, if it so elects, may apply for patents, copyrights and/or
trademarks relating to the Units, at its sole cost and expense; and

(i) to use Giampapa's best efforts to maintain the strict confidentiality of all
information relating to KRONOGEN SCIENCES' businesses and affairs not otherwise
available to the general public, including, but not limited to, KRONOGEN
SCIENCES' development, manufacture and sale of any of the Units and to refrain
from disclosing the same to any person, without the prior written consent to
KRONOGEN SCIENCES, except as may be required by law, government regulation or
pursuant to governmental process; provided that, prior to any such disclosure,
Giampapa shall provide KRONOGEN SCIENCES with reasonable notice thereof, as well
as reasonable opportunity to take appropriate steps to preserve the
confidentiality of such information.

5. Right to Terminate

(a) Giampapa shall have the right to terminate his obligations under this
License Agreement and this license, by written notice to KRONOGEN SCIENCES, upon
the occurrence of any one of the following events:

(i) the breach of any material term, covenant, condition, representation or
warranty hereof by KRONOGEN SCIENCES that has not been corrected within sixty
(60) days after written notice thereof has been provided by Giampapa to KRONOGEN
SCIENCES; provided, however, if the breach is not curable within such sixty (60)
day period, this license shall not terminate hereunder if, during such period,
KRONOGEN SCIENCES commences (and thereafter takes reasonable steps to endeavor)
to cure such breach.

(ii) a voluntary petition is commenced by KRONOGEN SCIENCES under the Bankruptcy
Code, as amended, 11 U.S.C. ss. 101 et seq, or any other law for the relief of
debtors or protection of creditors; KRONOGEN SCIENCES has an involuntary
petition commenced against it under such law and such petition is not dismissed
within 120 days after filing; KRONOGEN SCIENCES becomes insolvent; or any
substantial part of KRONOGEN SCIENCES' property becomes subject to any levy,
seizure, assignment, application, or sale for or by any creditor or governmental
agency; or liquidates or otherwise discontinues all or a significant part of its
business operations.

                                   Page 3 of 8
<PAGE>

(b) KRONOGEN SCIENCES can terminate this License Agreement upon thirty (30) days
written notice to Giampapa.

(c) Unless earlier terminated, this License Agreement shall terminate upon
expiration of the last-expiring Licensed Patent (including any patents that may
be granted on any patent applications included in the Licensed Patents).

(d) In the event of termination of this License Agreement, KRONOGEN SCIENCES may
manufacture into finished goods any raw materials, including raw materials on
order from its supplier, and to sell its inventory of Units but will otherwise
immediately cease utilizing the rights granted under Section 2 of this License
Agreement and shall otherwise immediately cease selling and offering for sale,
any Units.

6. KRONOGEN SCIENCES Representations and Warranties. KRONOGEN SCIENCES hereby
represents and warrants to Giampapa as follows:

(a) that it is duly organized and validly existing under the laws of the
jurisdiction in which it was formed and has all power and all material
governmental licenses, authorizations, permits, consents, and approvals required
to carry on its business as now conducted;

(b) that the execution, delivery, and performance by KRONOGEN SCIENCES of this
License Agreement are within its powers and have been duly authorized by all
necessary action by KRONOGEN SCIENCES and that this License Agreement
constitutes a valid and binding agreement of KRONOGEN SCIENCES enforceable
against KRONOGEN SCIENCES in accordance with its terms except as such
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, or other similar laws affecting creditors' rights generally and
by general equitable principles (regardless of whether enforcement is sought in
equity or at law); and

(c) that the execution, delivery, and performance by KRONOGEN SCIENCES of this
License Agreement require no action by or in respect of, or filing with, any
governmental body, agency, or official.

7. Giampapa Representations and Warranties. Giampapa hereby represents and
warrants to KRONOGEN SCIENCES as follows:

(a) that the execution, delivery, and performance by Giampapa of this License
Agreement are within his powers and that this License Agreement constitutes a
valid and binding agreement of Giampapa enforceable against Giampapa in
accordance with its terms except as such enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, or other similar laws
affecting creditors' rights generally and by general equitable principles
(regardless of whether enforcement is sought in equity or at law);

(b) that the execution, delivery, and performance by Giampapa of this License
Agreement require no action by or in respect of, or filing with, any
governmental body, agency, or official.

(c) that he has the full legal right to grant to KRONOGEN SCIENCES the licenses
granted under this License Agreement;

                                   Page 4 of 8
<PAGE>

(d) that prior to the date of this License Agreement, no license, covenant not
to sue, or any other right under any Licensed Patent has been granted to any
third party.

8. Protection of Licensed Patents.

(a) KRONOGEN SCIENCES will at all times recognize the ownership of Giampapa of
the Licensed Patents and will not at any time do or suffer to be done any act or
thing which will in any way impair the rights of Giampapa in the Licensed
Patents. KRONOGEN SCIENCES hereby expressly covenants that during the life of
this License Agreement and upon and after the termination thereof, KRONOGEN
SCIENCES will not claim that its use of the Licensed Patents has created any
title in KRONOGEN SCIENCES in any country.

(b) During the term of this Agreement, KRONOGEN will pay the fees, if any,
associated with the filing, maintenance and prosecution, with the United States
Patent and Trademark Office, of the Licensed Patents; provided, however, that
Giampapa shall cooperate with KRONOGEN in connection therewith, and provided
further, that it is acknowledged and agreed that KRONOGEN shall not be
responsible for any fees or other costs or payments associated with any claim or
suit relating to the Licensed Patents.

(c) In the event of infringement of the Licensed Patents, the parties will
jointly cooperate in terminating such infringement.

9. Indemnification.

(a) KRONOGEN SCIENCES hereby indemnifies Giampapa and shall hold him harmless
from any loss, liability, damage, cost or expense, including reasonable
attorneys' fees, arising out of any claims or suits which may be brought against
Giampapa relating to KRONOGEN SCIENCES' manufacture, sale or distribution of the
Units, except as such claims or suits relate to the grant of rights, covenants,
warranties or representations of Giampapa set forth herein, provided that
Giampapa shall give prompt written notice, cooperation and assistance to
KRONOGEN SCIENCES relative to any such claim or suit, and provided that KRONOGEN
SCIENCES shall have the option to undertake and conduct the defense of any suit
so brought.

(b) Giampapa hereby indemnifies KRONOGEN SCIENCES and its officers, directors,
shareholders, employees and agents (collectively, the "KRONOGEN Indemnified
Parties"), and shall hold each KRONOGEN Indemnified Party harmless from any
loss, liability, damage, cost or expense, including reasonable attorneys' fees,
arising out of any claims or suits which may be brought or made against such
KRONOGEN Indemnified Party by reason of Giampapa's grant of rights, covenants,
warranties or representations set forth herein, provided that KRONOGEN SCIENCES
shall give prompt written notice, cooperation and assistance to Giampapa
relative to any such claim or suit.

10. Miscellaneous

(a) Notices. Any notice or other communication required or permitted hereunder
must be in writing and must be transmitted by personal delivery, reputable
overnight courier service, certified mail (postage pre-paid, receipt requested)
or telecopy, as follows:

If to KRONOGEN SCIENCES:            Kronogen Sciences Inc.
                                    750 Lexington Avenue, 20th Floor
                                    New York, NY 10022
                                    Attention: Richard Serbin, President
                                    Facsimile: (212) 905-0208

                                   Page 5 of 8
<PAGE>

with a copy to:                     Blank Rome LLP
                                    405 Lexington Avenue
                                    New York, NY  10174
                                    Attention: Robert J. Mittman, Esq.
                                    Facsimile: (212) 885-5001

if to GIAMPAPA:                     Vincent C. Giampapa, M.D.
                                    89 Valley Road
                                    Montclair, NJ  07042
                                    Facsimile: (973) 746-4385

with a copy to:
                                    --------------------------------------

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

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

                                   Attention:

or at such other address as the party shall designate in a written notice to the
other party hereto, given in accordance with this Section 10. All notices and
other communications shall be effective (i) if delivered in person, when
delivered; (ii) if sent by overnight courier, the next business day following
the delivery thereof to such courier (or such later date as is demonstrated by a
bona fide receipt therefor); (iii) if sent by certified mail, three days after
deposit in the mail; or (iv) if sent by telecopier with receipt acknowledged,
when sent.

(b) No Waiver; Cumulative Remedies. No failure to exercise and no delay in
exercising, on the part of Giampapa, any right, remedy, power or privilege
hereunder shall operate as a waiver thereof; nor shall any single or partial
exercise of any right, remedy, power or privilege hereunder preclude any other
or further exercise thereof or the exercise of any other right, remedy, power or
privilege. The rights, remedies, powers and privileges herein provided are
cumulative and not exclusive of any rights, remedies, powers and privileges
provided by law.

(c) Severability. Any provision of this License Agreement which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable said provision in any
other jurisdiction.

(d) Integration. This License Agreement represents the agreement of the Giampapa
and KRONOGEN SCIENCES with respect to the subject matter hereof, and there are
no promises or representations by either party relative to the subject matter
hereof not reflected herein or therein.

(e) Governing Law. This License Agreement and the rights and obligations of the
parties under this License Agreement shall be governed by, and construed and
interpreted in accordance with, the laws of the State of New Jersey applicable
to contracts entered into and wholly performed in the State of New Jersey.

(f) No Assignment. This License Agreement shall be binding upon the parties
hereto, their successors and permitted assigns. Neither this License Agreement
nor any of the rights, duties or obligations thereunder may be assigned, sold,
conveyed, transferred, or delegated by either party without the express written
consent of the other party hereto. Notwithstanding the foregoing, KRONOGEN
SCIENCES may assign this License Agreement, and all rights and obligations under
this License Agreement, pursuant to the acquisition, merger, corporate
reorganization, or refinancing of KRONOGEN SCIENCES. Any attempted assignment in
violation of this Section 10(f) shall be void.

                                   Page 6 of 8
<PAGE>

(g) Substitute Corporate Party. Giampapa reserves the right at any time to
substitute a corporate party owned by Giampapa in place of himself as a party to
this License Agreement provided such substitute corporate party has the ability
to furnish the same personal services, and grant the same rights to KRONOGEN
SCIENCES as presently provided by Giampapa as an individual party to this
License Agreement.

11. Counterparts. This Agreement may be executed in original or facsimile
counterparts, each of which shall be deemed an original, but both of which when
taken together shall constitute one and the same instrument.

The parties have executed this License Agreement on the date first above
written.

/s/ Vincent C. Giampapa
-----------------------------------
Vincent C. Giampapa

                             KRONOGEN SCIENCES INC.

/s/ Richard Serbin
-----------------------------------
By: Richard Serbin
President & Chief Executive Officer

                                   Page 7 of 8
<PAGE>

                                  SCHEDULE 2(a)

<TABLE>
<CAPTION>
PATENT          PUB. DATE       TITLE
------          ---------       -----
<S>             <C>              <C>
US5895652       04/20/1999      Method of metabolic adjuvanation and cellular repair

US5580569       12/03/1996      Article for tissue-specific delivery of therapeutic agents

US5494677       02/27/1996      Tissue-specific implantable therapeutic agent delivery system

US5443508       08/22/1995      Subcutaneous implantable multiple agent delivery system

US5391164       02/21/1995      Subcutaneous implantable multiple-agent delivery system

US5326568       07/05/1994      Method of tissue-specific delivery

US5201728       04/13/1993      Subcutaneous implantable multiple-agent delivery system

Application                     The C-MED Multi Daily Nutritional System

Application                     The Bio-Marker Matrix Software
</TABLE>

                                   Page 8 of 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]