Document:

Execution version

            DATED 25 JULY 2007

            

            MERITOR HVS AB

            

            NORDIC FINANCE LIMITED

            

            CITICORP TRUSTEE COMPANY LIMITED

            

            

            NORDEA BANK DANMARK A/S

            

            STRUCTURED FINANCE SERVICER A/S

            

            NORDEA BANK AB (publ)

            

            NORDEA BANK FINLAND PLC

            

            NORDEA BANK NORGE ASA

            

            VIKING ASSET SECURITISATION LIMITED

            

            VIKING ASSET SECURITISATION HOLDINGS LIMITED

            

            OGIER SPV SERVICES LIMITED

            

            SG HAMBROS BANK (CHANNEL ISLANDS) LIMITED

              

             

             

            

            ____________________________________________________

            

            DEED OF AMENDMENT

            ____________________________________________________

            

            Slaughter and May

            One Bunhill Row

            London EC1Y 8YY

            (MJD/NAC)

            CB071800118

            
            

             

            CONTENTS

            

            

            	
                        1.

                    	
                        INTERPRETATION

                    	
                        2

                    
	
                        2.

                    	
                        DIRECTION

                    	
                        3

                    
	
                        3.

                    	
                        REPRESENTATIONS AND WARRANTIES

                    	
                        3

                    
	
                        4.

                    	
                        AMENDMENTS TO THE MASTER CP FUNDING AGREEMENT

                    	
                        3

                    
	
                        5.

                    	
                        AMENDMENTS TO THE MASTER OVERDRAFT FACILITY AGREEMENT

                    	
                        4

                    
	
                        6.

                    	
                        AMENDMENTS TO THE SUPPLEMENTAL MASTER OVERDRAFT FACILITY LETTER

                    	
                        4

                    
	
                        7.

                    	
                        AMENDMENTS TO THE LIQUIDITY FACILITY AGREEMENT

                    	
                        4

                    
	
                        8.

                    	
                        AMENDMENTS TO THE MASTER ACCOUNT BANK AGREEMENT

                    	
                        5

                    
	
                        9.

                    	
                        AMENDMENTS TO THE SUPPLEMENTAL ACCOUNTS ADMINISTRATION AGREEMENT

                    	
                        5

                    
	
                        10.

                    	
                        AMENDMENTS TO THE FOREIGN EXCHANGE AGREEMENT

                    	
                        6

                    
	
                        11.

                    	
                        AMENDMENTS TO THE MASTER SECURITY TRUST DEED

                    	
                        6

                    
	
                        12.

                    	
                        AMENDMENTS TO THE SUPPLEMENTAL SECURITY TRUST DEED

                    	
                        7

                    
	
                        13.

                    	
                        AMENDMENTS TO THE RECEIVABLES PURCHASE AGREEMENT

                    	
                        8

                    
	
                        14.

                    	
                        AMENDMENTS TO THE FUNDING DEFINITIONS SCHEDULE

                    	
                        8

                    
	
                        15.

                    	
                        AMENDMENTS TO THE MASTER DEFINITIONS SCHEDULE

                    	
                        8

                    
	
                        16.

                    	
                        AMENDMENTS TO PLEDGE AGREEMENT 1

                    	
                        9

                    
	
                        17.

                    	
                        AMENDMENTS TO PLEDGE AGREEMENT 2

                    	
                        9

                    
	
                        18.

                    	
                        AMENDMENTS TO THE ACCESSION AGREEMENT TO THE CORPORATE SECRETARIAL AGREEMENT

                    	
                        10

                    
	
                        19.

                    	
                        AMENDMENTS TO THE ACCESSION AGREEMENT TO THE PROGRAMME ADMINISTRATION AGREEMENT

                    	
                        10

                    
	
                        20.

                    	
                        CONSENT

                    	
                        10

                    
	
                        21.

                    	
                        LIMITED RECOURSE

                    	
                        10

                    
	
                        22.

                    	
                        NO LIABILITY AND NO PETITION

                    	
                        10

                    
	
                        23.

                    	
                        DESIGNATION

                    	
                        11

                    
	
                        24.

                    	
                        SEVERABILITY

                    	
                        11

                    
	
                        25.

                    	
                        COUNTERPARTS

                    	
                        11

                    
	
                        26.

                    	
                        RIGHTS OF THIRD PARTIES

                    	
                        12

                    
	
                        27.

                    	
                        LAW AND JURISDICTION

                    	
                        12

                    
	
                        28.

                    	
                        CONTINUITY OF TRANSACTION DOCUMENTS

                    	
                        12

                    
	 	 	 
	
                        SCHEDULE

                    	
                        13

                    

            

            

            
            

             

            THIS DEED OF AMENDMENT (this “Deed”) is made on 25 July 2007

            

            BETWEEN:

             

            (1)   MERITOR HVS AB, a company incorporated under the laws of Sweden (reg. no. 556550-0237) whose registered office is at Ishockeygatan 3, 711 34 Lindesberg, Sweden (the
            “Seller” and the “Servicer”);

            

            (2)   NORDIC FINANCE LIMITED, a company incorporated under the laws of Jersey (registration number 85494) whose registered office is at Whiteley Chambers, Don Street, St. Helier, Jersey JE4 9WG, Channel Islands (the
            “Purchaser”);

            

            (3)   CITICORP TRUSTEE COMPANY LIMITED, acting through its office at 14th Floor, Citigroup Centre, Canada Square, Canary
            Wharf, London E14 5LB (the “Programme Trustee” which expression shall include such person and all other persons for the time being acting as the security trustee or trustees pursuant to the Master Security Trust Deed as supplemented by the Supplemental Security Trust Deed);

            

            (4)   NORDEA BANK DANMARK A/S, a company incorporated under the laws of Denmark whose registered office is at Christiansbro, Strandgrade 3, 1401, Copenhagen, Denmark (as
            “Master Accounts Administrator” and the “Agent”);

            

            (5)   STRUCTURED FINANCE SERVICER A/S, a company incorporated under the laws of Denmark whose registered office is at Christiansbro, Strandgrade 3, 1401 Copenhagen, Denmark (the
            “Accounts Administrator” and the “Facility Administrator”);

            

            (6)   NORDEA BANK AB (publ), a company incorporated under the laws of Sweden whose registered office is at S53, SE-10571, Stockholm, Sweden (the “Overdraft
            Bank” and the “Counterparty”);

            

            (7)   NORDEA BANK FINLAND PLC, acting through its office at Aleksanterinkatu 36B, 00100 Helsinki, Finland (“NBF”);

            

            (8)   NORDEA BANK NORGE ASA, acting through its office at Middelthunsgt. 17, 0368 Oslo, Norway (“NBN”);

            

            (9)   VIKING ASSET SECURITISATION LIMITED, a company incorporated under the laws of Jersey, whose registered office is at Whiteley Chambers, Don Street, St. Helier, Jersey JE4 9WG, Channel Islands (the
            “Issuer”);

            

            (10) VIKING ASSET SECURITISATION HOLDINGS LIMITED, a company incorporated under the laws of Jersey whose registered office is at Whiteley Chambers, Don Street, St. Helier, Jersey JE4 9WG, Channel Islands
            (“Holdings”);

            

            (11) OGIER SPV SERVICES LIMITED, a company incorporated under the laws of Jersey whose registered office is at Whiteley Chambers, Don Street, St. Helier, Jersey JE4 9WG, Channel Islands (the
            “Company Secretary”); and

             

            (12) SG HAMBROS BANK (CHANNEL ISLANDS) LIMITED, a company incorporated under the laws of Jersey whose registered office is at PO Box 78, SG Hambros House, St. Helier, Jersey, JE4 8PR (the
            “Programme Administrator”).

            

            WHEREAS:

             

            (A)  Pursuant to the Receivables Purchase Agreement, the Seller has agreed to sell and the Purchaser has agreed to purchase, from time to time, Receivables that have satisfied the Eligibility Criteria.

            

            (B)  The Purchaser, the Programme Trustee, the Seller and the Accounts Administrator now wish to increase the Programme Amount from €100,000,000 to €125,000,000 and the parties hereto wish to amend certain of the Transaction Documents to provide for such increase.

            

            (C)  The parties hereto agree that the Master CP Funding Agreement, the Master Overdraft Facility Agreement, the Supplemental Master Overdraft Facility Letter, the Liquidity Facility Agreement, the Master Account Bank Agreement, the Supplemental Accounts Administration Agreement, the Foreign Exchange
            Agreement, the Master Security Trust Deed, the Supplemental Security Trust Deed, the Receivables Purchase Agreement, the Funding Definitions Schedule, the Master Definitions Schedule, Pledge Agreement 1, Pledge Agreement 2, the Accession Agreement to the Corporate Secretarial Agreement and the Accession Agreement to the Programme Administration Agreement shall be amended with effect from the date hereof in the manner as set out in this Deed.

            

            NOW THIS DEED WITNESSES as follows:

              

            1. INTERPRETATION

            

            1.1  In this Deed (including in the recitals) words defined in the Master Definitions Schedule dated 13 March 2006, as amended from time to time, shall, unless otherwise defined herein, have the same meanings when used in this Deed and each of the following words and expressions shall have the meaning
            specified as follows:

            

            “Pledge Agreement 1” means the pledge agreement between the Purchaser and the Programme Trustee dated 13 March 2006 pursuant to which the Purchaser pledges to the Programme Trustee on behalf of the Purchaser Beneficiaries, all of the
            Purchaser’s title to and interest in the Security (as defined therein) as security for the due and punctual performance by the Purchaser of the Purchaser Secured Obligations; and

              

            “Pledge Agreement 2” means the pledge agreement between the Purchaser and the Programme Trustee dated 13 March 2006 pursuant to which the Purchaser pledges to the Programme Trustee on behalf of the Purchaser Beneficiaries, all of the Purchaser’s title to and interest in the Purchased Receivables as security for the due and punctual performance by the Purchaser of the Purchaser Secured
            Obligations.

            

            1.2  The headings in this Deed shall not affect its interpretation.

            

            1.3  Words denoting the singular number only shall include the plural number also and vice versa; and words denoting persons only shall include firms and corporations and vice
            versa.

            

            1.4  References in this Deed to Clauses and Schedules shall, unless the context otherwise requires, be to clauses of, and schedules to this Deed.

            

            1.5  References in this Deed to any statutory provision shall be deemed also to refer to any statutory or other modification, re-enactment or replacement thereof or any statutory instrument, order or regulation made thereunder or under any such re-enactment.

            

            1.6  References in this Deed to this Deed or any other agreement or document shall be construed as a reference to this Deed or, as the case may be, such other agreement or document as the same may from time to time be amended, supplemented, varied, novated or replaced.

            

            2. DIRECTION

            

            2.1  Each of the parties hereto irrevocably directs the Programme Trustee to consent to the amendments herein and to do all things necessary to effect such amendments (the “Direction”).

            

            2.2  Each of the parties acknowledges and agrees that the Programme Trustee, in consenting to the amendments herein has relied solely on the Direction and on the representations, warranties and covenants contained in this Deed.

            

            3. REPRESENTATIONS AND WARRANTIES

            

            3.1  Each of the parties hereto represents and warrants to the Programme Trustee that it has the power to enter into and perform and has taken all necessary action to authorise entry into and performance of this Deed.

            

            3.2  Each of the parties hereto represents and warrants that the entry into and performance by it of this Deed does not and will not conflict with:

            

            (A)      any law, rule or regulation applicable to it or this Deed;

            

            (B)      its constitutional documents;

            

            (C)      any document which is binding on or affecting it; or

            

            (D)      any order, writ, judgment, award, injunction or decree which is binding on or affecting it.

            

            4. AMENDMENTS TO THE MASTER CP FUNDING AGREEMENT

            

            The Purchaser and the Issuer agree that the Master CP Funding Agreement shall be amended as of and with effect from the date hereof in the following manner:

            

            (A)      That clause 1.1 is deleted and restated as follows:

            

            “1.1 Terms defined in the Funding Definitions Schedule dated 13 March 2006 signed for the purposes of the identification by, inter alios, the parties hereto, as amended from time to time shall, unless otherwise defined herein
            or the context otherwise requires, bear the same meanings herein.”

            

            (B)      That a new clause 1.4 is inserted as follows:

            

            “1.4 References in this Agreement to this Agreement or any other agreement or document shall be construed as a reference to this Agreement or, as the case may be, such other agreement or document as the same may from time to time be amended, supplemented, varied, novated or replaced.”

            

            5. AMENDMENTS TO THE MASTER OVERDRAFT FACILITY AGREEMENT

            

            The Purchaser, the Overdraft Bank, the Agent, NBF and NBN agree that the Master Overdraft   

            Facility Agreement shall be amended as of and with effect from the date hereof in the following manner:

              

            That Schedule 2 is amended by the insertion of the words “as amended from time to time (the “Master Overdraft Facility Agreement”)” after the words “Master Overdraft Facility Agreement dated 13 March 2006”.

            

            6. AMENDMENTS TO THE SUPPLEMENTAL MASTER OVERDRAFT FACILITY LETTER

            

            The Purchaser and the Overdraft Bank agree that the Supplemental Master Overdraft Facility Letter shall be amended as of and with effect from the date hereof in the following manner:

              

            (A)  That in paragraph 1 the words “as amended from time to time (the “Master Overdraft Facility Agreement”)” are added after the words “Master Overdraft Facility Agreement dated 13 March
            2006”.

            

            (B)  That in paragraph 2 the words “the date hereof” are deleted and replaced with the words “13 March 2006, as amended from time to time”.

            

            (C)  That in paragraph 3 the Transaction Overdraft Facility Limit is amended from “€100,000,000” to “€125,000,000”.

            

            7. AMENDMENTS TO THE LIQUIDITY FACILITY AGREEMENT

            

            The Purchaser, the Agent and the Overdraft Bank agree that the Liquidity Facility Agreement shall be amended as of and with effect from the date hereof in the following manner:

            

            (A)  That the reference to “€100,000,000” on the cover of the Liquidity Facility Agreement is deleted and replaced with “€125,000,000”.

            

            (B)  That Schedule 1 to the Liquidity Facility Agreement is deleted and replaced by the Schedule hereto.

            

            (C)  That in Schedules 3 and 4 the words “dated 13 March 2006” are deleted and replaced by the words “dated 12 March 2007”.

            

            (D)  That Schedule 5 to the Liquidity Facility Agreement is amended by the insertion of the words “as amended from time to time” before the words “(the “Liquidity Facility
            Agreement”)”.

            

            8. AMENDMENTS TO THE MASTER ACCOUNT BANK AGREEMENT

            

            The Programme Trustee, the Purchaser, the Issuer, the Agent, the Overdraft Bank, NBN and NBF agree that the Master Account Bank Agreement shall be amended as of and with effect from the date hereof in the following manner:

              

            That Schedule 1 is amended by the addition of the words “as amended from time to time (the “Master Account Bank Agreement”)” after the words “Master Account Bank Agreement dated 13 March 2006”.

            

            9. AMENDMENTS TO THE SUPPLEMENTAL ACCOUNTS ADMINISTRATION AGREEMENT

            

            The Programme Trustee, the Accounts Administrator, the Agent, the Overdraft Bank, NBN and NBF agree that the Supplemental Accounts Administration Agreement shall be amended as of and with effect from the date hereof in the following manner:

              

            (A)     That clause 1.1 is deleted and restated as follows:

            

            “1.1   Except as provided herein all words and expressions defined in the Funding Definitions Schedule dated 13 March 2006 as amended from time to time have the same meanings in this Agreement. In case of any conflict between the Master Accounts Administration Agreement and this Agreement, this
            Agreement shall prevail.”

            

            (B)      That a new clause 1.3 is inserted as follows:

            

            “1.3   References in this Agreement to this Agreement or any other agreement or document shall be construed as a reference to this Agreement or, as the case may be, such other agreement or document as the same may from time to time be amended, supplemented, varied, novated or
            replaced.”

            

            10. AMENDMENTS TO THE FOREIGN EXCHANGE AGREEMENT

            

            The Purchaser and the Counterparty agree that the Foreign Exchange Agreement shall be amended as of and with effect from the date hereof in the following manner:

              

            (A)    That in clause 1.1 the following definitions are amended and restated as follows:

            

            “Master Definitions Schedule” means the master definitions schedule dated 13 March 2006 signed for the purposes of identification by, inter alios, the parties hereto, as amended from time to time.

              

            “Supplemental Security Trust Deed” means the Supplemental Security Trust Deed dated 13 March 2006 between the Programme Trustee and the Purchaser, as amended from time to time.

            

            (B)      That in clause 1.1 the following definition is inserted in the relevant order:

                 

                               “Funding Definitions Schedule” means the funding definitions schedule dated 13 March
                               2006 signed for the purposes of identification by, inter alios, the parties hereto, as                    amended from time to time.

            

            (C)     That a new clause 1.7 is inserted as follows:

            

            “1.7   References in this Agreement to this Agreement or any other agreement or document shall be construed as a reference to this Agreement or, as the case may be, such other agreement or document as the same may from time to time be amended, supplemented, varied, novated or
            replaced.”

            

            (D)    That the First Schedule is amended by the insertion of the words “as amended from time to time” after the words “Foreign Exchange Agreement dated 13 March 2006”.

            

            (E)    That the Second Schedule is amended by the insertion of the words “as amended from time to time” after the words “Foreign Exchange Agreement dated 13 March 2006”.

            

            11. AMENDMENTS TO THE MASTER SECURITY TRUST DEED

            

            The Purchaser and the Programme Trustee agree that the Master Security Trust Deed shall be amended as of and with effect from the date hereof in the following manner:

              

            (A)      That clause 1.1 is deleted and restated as follows:

            

            “1.1   Terms defined in the Funding Definitions Schedule dated 13 March 2006 signed for the purposes of identification by, inter alios, the parties hereto, as amended from time to time, shall, unless otherwise defined
            herein or the context otherwise requires, bear the same meanings herein.”

            

            (B)      That a new clause 1.6 is inserted as follows:

            

            “1.6   References in this Deed to this Deed or any other agreement or document shall be construed as a reference to this Deed or, as the case may be, such other agreement or document as the same may from time to time be amended, supplemented, varied, novated or replaced.”

            

            (C)    That Schedule 1 is amended by the insertion of the words “as amended from time to time” after the words “Master Security Trust Deed dated 13 March 2006”.

            

            12. AMENDMENTS TO THE SUPPLEMENTAL SECURITY TRUST DEED

            

            The Purchaser and the Programme Trustee agree that the Supplemental Security Trust Deed shall be amended as of and with effect from the date hereof in the following manner:

              

            (A)     That in clause 1.2, the following definitions are amended and restated as follows:

            

            “Accession Agreement to the Corporate Secretarial Agreement” means the Accession Agreement to the Corporate Secretarial Agreement dated 13 March 2006 between the Purchaser, Viking Asset Securitisation Holdings Limited and SG Hambros Trust
            Company (Channel Islands) Limited, as amended from time to time;

              

            “Accession Agreement to the Programme Administration Agreement” means the Accession Agreement to the Programme Administration Agreement dated 13 March 2006 between the Purchaser, Viking Asset Securitisation Holdings Limited and SG Hambros Bank (Channel Islands) Limited, as amended from time to time;

              

            “Foreign Exchange Agreement” means the Foreign Exchange Agreement dated 13 March 2006 between the Purchaser and Nordea Bank AB (publ) as Counterparty, as amended from time to time;

              

            “Liquidity Facility Agreement” means the €100,000,000 Liquidity Facility Agreement dated 12 March 2007 between the Purchaser, Nordea Bank Danmark A/S as Agent and the Banks (as defined therein), as amended from time to time;

              

            “Receivables Purchase Agreement” means the receivables purchase agreement dated 13 March 2006 between Meritor HVS AB, the Programme Trustee and the Purchaser, as amended from time to time;

            

            “Supplemental Accounts Administration Agreement” means the Supplemental Accounts Administration Agreement dated 13 March 2006 between the Programme Trustee, the Purchaser, Structured Finance Servicer A/S, Nordea Bank AB (publ), Nordea Bank Norge
            ASA, Nordea Bank Finland Plc and Nordea Bank Danmark A/S, as amended from time to time;

            

            “Supplemental Overdraft Facility Letter” means the Supplemental Overdraft Facility Letter dated 13 March 2006 between the Purchaser and Nordea Bank AB (publ), appointing Nordea Bank AB (publ) as the Overdraft Bank for the
            purposes of this Transaction, as amended from time to time;

            

            (B)     That a new clause 1.4 is inserted as follows:

            

            “1.4   References in this Supplemental Security Trust Deed to this Supplemental Security Trust Deed or any other agreement or document shall be construed as a reference to this Supplemental Security Trust Deed or, as the case may be, such other agreement or document as the same may from time to
            time be amended, supplemented, varied, novated or replaced.”

            

            13. AMENDMENTS TO THE RECEIVABLES PURCHASE AGREEMENT

            

            The Purchaser, the Seller and the Programme Trustee agree that the Receivables Purchase Agreement shall be amended as of and with effect from the date hereof in the following manner:

              

            That Schedule 6 is amended by the insertion of the words “as amended from time to time” after the words “dated 13 March 2006”.

            

            14. AMENDMENTS TO THE FUNDING DEFINITIONS SCHEDULE

            

            The parties hereto agree that the Funding Definitions Schedule shall be amended as of and with effect from the date hereof in the following manner:

            

            That in clause 1, the following definition is amended and restated as follows:

            

            “Programme Amount” means €125,000,000 or (i) such lower amount as is notified by the Seller to the Accounts Administrator, provided that no reduction in the Programme Amount shall take effect if and to the extent that the Face Amount of all
            Notes then outstanding would exceed the reduced Programme Amount or (ii) such higher amount as the Purchaser, the Programme Trustee, the Seller and the Accounts Administrator may agree in writing.

            

            15. AMENDMENTS TO THE MASTER DEFINITIONS SCHEDULE

            

            The Seller, the Purchaser, the Programme Trustee, the Master Accounts Administrator and the Accounts Administrator agree that the Master Definitions Schedule shall be amended as of and with effect from the date hereof in the following manner:

            

            (A)     That in clause 1, the following definitions be amended and restated as follows:

            

            “Liquidity Facility Agreement” means the liquidity facility agreement dated 12 March 2007 entered into in relation to the Transaction between the Purchaser, Nordea Bank Danmark A/S as Agent and the Banks (in each case as defined therein), as
            amended from time to time.

            

            “Programme Amount” means in relation to the Transaction EUR 125,000,000 or (i) such lower amount as is notified by the Seller to the Accounts Administrator, provided that no reduction in the Programme Amount shall take effect if and to the
            extent that the Face Amount of all Notes then outstanding would exceed the reduced Programme Amount or (ii) such higher amount as the Purchaser, the Programme Trustee, the Seller and the Accounts Administrator may agree in writing.

            

            “Total Commitments” means in respect of the Transaction the aggregate for the time being of the Commitments, being EUR 125,000,000 as at 25 July 2007.

            

            (B)     That in clause 1, the following definitions are added in the relevant order:

            

            “Overdraft Facility Limit” means the Overdraft Facility Limit set out in the Supplemental Overdraft Facility Letter.

            

            “Supplemental Overdraft Facility Letter” means the Supplemental Master Overdraft Facility Letter entered into in relation to the Transaction between Nordea Bank AB (publ) and Nordic Finance Limited dated 13 March 2006, as
            amended from time to time.

            

            16. AMENDMENTS TO PLEDGE AGREEMENT 1

            

            The Purchaser and the Programme Trustee agree that Pledge Agreement 1 shall be amended as of and with effect from the date hereof in the following manner:

              

            That in the first recital the words “as amended from time to time” are added after the words “master security trust deed” and after the words “supplemental security trust deed”.

            

            17. AMENDMENTS TO PLEDGE AGREEMENT 2

            

            The Purchaser and the Programme Trustee agree that Pledge Agreement 2 shall be amended as of and with effect from the date hereof in the following manner:

              

            (A)     That in the first recital the words “as amended from time to time” are added after the words “receivables purchase agreement on 13 March 2006”.

            

            (B)     That in the second recital the words “as amended from time to time” are added after the words “master security trust deed” and after the words “supplemental security trust deed”.

            

            18. AMENDMENTS TO THE ACCESSION AGREEMENT TO THE CORPORATE SECRETARIAL AGREEMENT

            

            The Purchaser, Holdings and the Company Secretary agree that the Accession Agreement to the Corporate Secretarial Agreement shall be amended as of and with effect from the date hereof in the following manner:

              

            That in (ii) the words “as amended from time to time” are added after the words “Finance Agreements”.

            

            19. AMENDMENTS TO THE ACCESSION AGREEMENT TO THE PROGRAMME ADMINISTRATION AGREEMENT

            

            The Purchaser, Holdings and the Programme Administrator agree that the Accession Agreement to the Programme Administration Agreement shall be amended as of and with effect from the date hereof in the following manner:

            

            That in (ii) the words “as amended from time to time” are added after the words “Finance Agreements”.

            

            20. CONSENT

            

            The Purchaser and the Programme Trustee hereby consent to the amendments to the Transaction Documents set out herein for the purposes of the Master Security Trust Deed, the Supplemental Security Trust Deed, Pledge Agreement 1 and Pledge Agreement 2.

              

            21. LIMITED RECOURSE

            

            Notwithstanding any other provision hereof or any other provision contained in the Transaction Documents, the Programme Trustee and the Purchaser Beneficiaries shall have recourse only to the Purchaser Charged Property in respect of the Transaction and the Programme Trustee having realised the same, neither the Programme
            Trustee nor the Purchaser Beneficiaries nor anyone else acting on behalf of any of them shall be entitled to take any further steps against the Purchaser to recover any sum still unpaid and all sums due but still unpaid shall be extinguished.

              

            22. NO LIABILITY AND NO PETITION

            

            22.1  No recourse under any obligation, covenant, or agreement of any party contained in this Deed shall be had against any shareholder, officer or director of the relevant party as such, by the enforcement of any assessment or
            by any proceeding, by virtue of any law, statute or otherwise, it being expressly agreed and understood that this Deed is a corporate obligation of the relevant party and no personal liability shall attach to or be incurred by the shareholders, officers, agents or directors of the relevant party as such, or any of them, under or by reason of any of the obligations, covenants or agreements of such party contained in this Deed, or implied therefrom, and that any and all personal
            liability for breaches by such party of any of such obligations, covenants or agreements,

            either at law or by statute or constitution, of every shareholder, officer, agent or director is hereby expressly waived by the other parties as a condition of and consideration for the execution of this Deed.

            

            22.2  The parties hereby agree that they shall not, until the expiry of one year and one day after the payment of all sums outstanding and owing under the latest maturing note issued under the CP Programme:

            

            (A)    take any corporate action or other steps or legal proceedings for the winding-up, dissolution or re-organisation or for the appointment of a receiver, administrator, administrative receiver, trustee, liquidator, sequestrator or similar officer of the other party or of any or all of the other
            party's revenues and assets; or

            

            (B)    have any right to take any steps for the purpose of obtaining payment of any amounts payable to it under this Deed by the Purchaser or the Issuer and shall not until such time take any steps to recover any debts or liabilities whatsoever owing to it by the Purchaser or the Issuer.

            

            23. DESIGNATION

            

            By executing this Deed, the parties hereto hereby designate this Deed as a “Transaction Document” for the purposes of the CP Programme.

              

            

            24. SEVERABILITY

            

            If a provision of this Deed is or becomes illegal, invalid or unenforceable in any jurisdiction, that shall not affect:

            

            (a)     the legality, validity or enforceability in that jurisdiction of any other provision of this Deed; or

            

            (b)     the legality, validity or enforceability in other jurisdictions of that or any other provision of this Deed.

            

            Such invalid, illegal or unenforceable provision shall be replaced by the parties with a provision which comes as close as reasonably possible to the commercial intentions of the invalid, illegal or unenforceable provisions.

              

            25. COUNTERPARTS

            

            This Deed may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument and any party may enter into this Deed by executing a counterpart.

            

            26. RIGHTS OF THIRD PARTIES

            

            A person who is not a party to this Deed has no rights under the Contracts (Rights of Third Parties) Act 1999 to enforce any term of this Deed, but this does not affect any right or remedy of a third party that exists or is available apart from under that Act.

              

            27. LAW AND JURISDICTION

            

            27.1  Subject to the provisions of Clause 27.2 below, this Deed is governed by and shall be construed in accordance with English law.

            

            27.2  Notwithstanding the provisions of Clause 27.1 above, where any clause herein amends a Transaction Document (the "Amending Clause") the governing law of the Transaction Document amended shall apply
            mutatis mutandis to that Amending Clause.

            

            28. CONTINUITY OF TRANSACTION DOCUMENTS

            

            Save as expressly amended herein, effective as of the date hereof, the Transaction Documents shall continue in full force and effect. An Amending Clause shall be read and construed as one with the Transaction Document it amends. 

            
            

            

             SCHEDULE

            

            SCHEDULE 1 (Part 1)

            

            BANKS AND COMMITMENTS

              

            

            	
                        Bank

                    	
                        Commitments

                    
	 	 
	
                        Nordea Bank AB (publ)

                    	
                        €125,000,000

                    
	 	 
	 	 
	
                        Total Commitments

                    	
                        €125,000,000

                    
	 	 

            

            

            

            
            

             

            IN WITNESS of which this Deed has been executed and has been delivered on the date that appears first on page 1.

            

            	
                        EXECUTED as a Deed by

                        MERITOR HVS AB

                        acting by..............................

                         acting under the authority of that company in the presence of:

                    	
                        )

                        )

                        )

                        )

                        )

                        )

                        )

                    	
                        ......................................................

                          

                         

                         

                        ......................................................

                    
	
                        EXECUTED as a Deed by

                        NORDIC FINANCE LIMITED

                        acting by..............................

                         acting under the authority of that company in the presence of:

                    	
                        )

                        )

                        )

                        )

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                        EXECUTED as a Deed by

                        CITICORP TRUSTEE COMPANY LIMITED acting by.................. ............

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                        EXECUTED as a Deed by

                        NORDEA BANK DANMARK A/S

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                        EXECUTED as a Deed by

                        STRUCTURED FINANCE SERVICER A/S acting by.................. ............

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                        EXECUTED as a Deed by

                        NORDEA BANK AB

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                        EXECUTED as a Deed by

                        NORDEA BANK FINLAND PLC

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                        EXECUTED as a Deed by

                        NORDEA BANK NORGE ASA

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                        EXECUTED as a Deed by

                        VIKING ASSET SECURITIZATION LIMITED acting by..............................

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                        EXECUTED as a Deed by

                        VIKING ASSET SECURITIZATION HOLDINGS LIMITED

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                        EXECUTED as a Deed by

                        OGIER SPV SERVICES LIMITED

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                        EXECUTED as a Deed by

                        SG HAMBROS BANK (CHANNEL ISLANDS) LIMITED

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            CB071800118SEPARATION AND GENERAL RELEASE AGREEMENT

Exhibit 10.1

SEPARATION AND GENERAL RELEASE AGREEMENT

 

In exchange for the terms, conditions and releases set forth below, Nektar Therapeutics ("Nektar" or the "Company") and John S. Patton, Ph.D. ("you") hereby agree as follows:

	Effective Date.  This Agreement will become effective on the eighth day after you sign and deliver this Agreement to the Company (the "Effective Date"), provided that you do not revoke this Separation and General Release Agreement (this "Agreement") before such date pursuant to Paragraph 7(c) below.  

	Resignation.  You hereby resign as an officer, director, employee, member, manager and in any other capacity with the Company and each of its affiliates, effective as of November 21, 2008 (the "Termination Date").  The Company and each of its affiliates hereby accept such resignation effective as of the Termination Date.  You waive any right or claim to reinstatement as an employee of the Company or any of its affiliates by which you were previously employed.  Following the Termination Date, you shall not be authorized to transact any business on behalf of the Company or any its affiliates or subsidiaries.  

	Consideration.  Provided that you comply with all of the terms of this Agreement, the Company shall provide you with the following severance benefits (the "Severance Benefits"):  (a) the Company will make a severance payment to you within three (3) business days following the Effective Date in the amount of five hundred seventy-two thousand nine hundred seventy-two dollars and fifty cents ($572,972.50), less all applicable withholdings and standard deductions; (b) subject to the provisions set forth below in Paragraph 18, your Options, to the extent outstanding and vested as of the Termination Date, will remain exercisable for an additional period of time as provided in Paragraph 18; and (c) provided that you timely exercise your right to continue your health insurance coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 ("COBRA"), the Company will pay the monthly health insurance coverage premiums for you and your eligible dependents for a period commencing on the Termination Date and ending on the earlier to occur of (x) the twelve month anniversary of the Termination Date, and (y) the date you become eligible to receive health insurance coverage from a subsequent employer.  You shall notify the Company promptly upon accepting employment with any other person or entity, but no later than three calendar days prior to commencing such employment, and at the same time, you shall notify the Company whether you are eligible to receive health coverage in connection with such employment.  To the extent that the payment of any COBRA premiums pursuant to the foregoing clause (c) is taxable to you, any such payment shall be made to you on or before the last day of your taxable year following the taxable year in which the related expense was incurred, your right to payment of such premiums shall not be subject to liquidation or exchange for another benefit, and the amount of such benefits that you receive in one taxable year shall not affect the amount of such benefits that you receive in any other taxable year.  You acknowledge that the Severance Benefits include payments that you would not otherwise be entitled to receive, now or in the future, without entering into this Agreement, and constitute valuable consideration for the promises and undertakings set forth in this Agreement.  

	Payment of Salary and Expenses.  On your Termination Date, the Company will pay to you all accrued and unpaid salary and any accrued but unused paid time off as of the Termination Date (collectively, the "Accrued Obligations").  In the event that you have a negative paid time off balance, you agree that such amount will be deducted from the Company's payment to you of your Accrued Obligations.  By signing below, you acknowledge and represent that, upon receiving the Accrued Obligations, you will have received all salary, wages, bonuses, accrued vacation and paid time off, and all other benefits and compensation due to you through the Termination Date.  You agree that, within ten (10) days after the Termination Date, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Termination Date, if any, for which you seek reimbursement.  The Company will reimburse you for these expenses pursuant to its regular business practice.

	Return of Property; Proprietary Information Agreement.  Within five days following the Termination Date, you shall return to the Company any and all property of the Company or any of its affiliates (collectively, the "Company Group"), including, but not limited to, documents (in whatever paper or electronic form they exist), things relating to the business of the Company Group and all intellectual, electronic and physical property belonging to the Company Group that is in your possession or control, including but not limited to any computers, cell phones, blackberries, emails, documents, power point presentations, business plans, financial plans, personnel information and/or financial statements belonging to the Company Group or that contain confidential information of the Company Group.  Your signature below constitutes your certification that you have returned all documents and other items provided to you by the Company Group, developed or obtained by you as a result of your employment with the Company Group, or otherwise belonging to the Company Group.  You hereby reaffirm and agree to observe and abide by the terms of your Employee Agreement (the "Employee Agreement") with the Company, specifically including the provisions therein regarding assignment of inventions, nondisclosure of the Company's trade secrets and confidential and proprietary information, and non-solicitation of employees of the Company Group.  The obligations under the Employee Agreement that survive the termination of your employment are specifically incorporated herein by reference.

	Release of Claims.  You agree that the foregoing consideration represents settlement in full of all outstanding obligations owed to you by the Company and its officers, directors, agents and employees, and is satisfactory consideration for the release of claims set forth herein.  On behalf of yourself, and your respective heirs, family members, executors and assigns, you hereby fully and forever release the Company and its past and present subsidiaries and affiliates, and each of their past, present and future officers, agents, directors, employees, investors, stockholders, administrators, attorneys, representatives, affiliates, divisions, subsidiaries, parents, predecessor and successor corporations, and assigns (the "Releasees"), from, and agree not to sue or institute, prosecute or pursue, or cause to be instituted, prosecuted, or pursued, any claim, cause of action, charge, controversy, duty, obligation, demand, loss, cost, debt, damages, penalties, judgment, order, or liability relating to or arising out of any matters of any kind, whether presently known or unknown, suspected or unsuspected, that you may possess against any of the Releasees arising from any omissions, acts or facts that have occurred up until and including the date you sign this Agreement (collectively "Claims").  The released Claims include, but are not limited to:  (i) any and all Claims relating to or arising from your employment relationship with the Company and the termination of that relationship, including any Claims with respect to wages, bonuses, commissions, vacation pay, or any other form or amount of compensation, or any Claim arising out of that certain letter agreement between you and the Company dated September 18, 2007 (the "2007 Letter Agreement") and/or the Company's Change of Control Severance Plan; (ii) any and all Claims relating to, or arising from, your right to receive or purchase any form of equity in the Company or any Releasee, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law; (iii) any and all Claims for wrongful discharge of employment; termination in violation of public policy; discrimination; harassment; retaliation; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false imprisonment; and conversion; (iv) any and all Claims for violation of any federal, state or municipal law, regulation, ordinance, constitution or common law, including, but not limited to, Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Age Discrimination in Employment Act of 1967; the Americans with Disabilities Act of 1990; the Fair Labor Standards Act; the Employee Retirement Income Security Act of 1974; The Worker Adjustment and Retraining Notification Act; the Sarbanes-Oxley Act; the California Fair Employment and Housing Act; the California Family Rights Act; and the California Labor Code, including, but not limited to section 201, et seq,. section 970, et seq., sections 1400-1408; and all amendments to each such Act as well as the regulations issued thereunder; and (v) any and all Claims for attorneys' fees and costs.

Notwithstanding the foregoing, nothing in this Paragraph 6 shall release (i) any obligations owed by the Company expressly described in this Agreement, (ii) any claims you may have for indemnification under any indemnification agreement that you have with the Company, any of the Company's charter documents, or under California Labor Code Section 2802 or other applicable law, or for coverage under any of the Company's directors' and officers' liability insurance policies; (iii) your claims for any benefits that are vested as of the Termination Date under the Company's health, welfare or 401(k) plans; (iv) your rights with respect to your vested equity awards referenced in Paragraph 18; (v) your claims for underlying workers' compensation benefits; or (vi) any claims pursuant to Paragraph 7(e) of this Agreement.  

	Acknowledgment of Waiver of Claims under ADEA.  You acknowledge that you are waiving and releasing any rights you may have under the Age Discrimination in Employment Act of 1967 ("ADEA") and that this waiver and release is knowing and voluntary. You and the Company agree that this waiver and release does not apply to any rights or claims that may arise under the ADEA after the Effective Date of this Agreement.  You acknowledge that the consideration given for this waiver and release Agreement is in addition to anything of value to which you were already entitled.  You further acknowledge that you have been advised by this writing that:

	you should consult with an attorney prior to executing this Agreement;
	you have at least twenty-one (21) days within which to consider this Agreement and, if you wish to execute this Agreement prior to expiration of such 21-day period, you should execute the Acknowledgement and Waiver attached hereto as Exhibit A;
	you have seven (7) days following the date that you sign this Agreement to revoke the Agreement; provided, however, that any such revocation must be in writing and delivered to the Company's General Counsel at the Company's principal office, by close of business on or before the seventh day from the date that you sign this Agreement;
	this Agreement shall not be effective until the eighth day after you execute and do not revoke this Agreement; and
	nothing in this Agreement prevents or precludes you from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties or costs from doing so, unless specifically authorized by federal law.

	Civil Code Section 1542/Unknown Claims.  You represent that you are not aware of any claims against the Releasees other than the claims that are released by this Agreement.  You acknowledge that you have had the opportunity to be advised by legal counsel and are familiar with the provisions of California Civil Code 1542, below, which provides as follows:

 

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.

 

Being aware of said code section, you agree to expressly waive any rights you may have thereunder, as well as under any statute or common law principles of similar effect.

	No Pending or Future Lawsuits.  You represent that you have no lawsuits, claims, or actions pending in your name, or on behalf of any other person or entity, against any of the Releasees.  You also represent that you do not intend to bring any claims on your own behalf or on behalf of any other person or entity against any of the Releasees.  You also promise to opt out of any class or representative action and to take such other steps as you have the power to take to disassociate yourself from any class or representative action seeking relief against the Company and/or any other Releasee regarding any of the claims released in this Agreement.

	Confidentiality of Agreement. You agree to keep the existence and terms of this Agreement in the strictest confidence and, except as required by law, not reveal the existence or terms of this Agreement to any persons except your immediate family, your attorney, and your financial advisors (and to them only provided that they also agree to keep the information completely confidential), and the court in any proceedings to enforce the terms of this Agreement.  

	Non-Disparagement.  Each party agrees not to make any oral or written statement that disparages or criticizes the other party, and in your case, the Company's management, employees, products or services, or damages the other party's reputation or impairs the other party's normal operations; provided, however, that nothing in this Agreement shall prohibit either party from providing truthful information or testimony in response to any court order, subpoena, or government investigation, or in connection with any legal proceeding between the Company and you.  For the purposes of this Section 11, the reference to the Company as a party to this Agreement includes only the Company's officers that are subject to Section 16(b) of the Securities Exchange Act of 1934, as amended, and the members of its Board of Directors.

	Litigation/Audit Cooperation.  Following the Termination Date, you shall reasonably cooperate with the Company or any other member of the Company Group in connection with: (a) any internal or governmental investigation or administrative, regulatory, arbitral or judicial proceeding involving any member of the Company Group with respect to matters relating to your employment with or service as a member of the board of directors of any member of the Company Group (collectively, "Litigation"); or (b) any audit of the financial statements of any member of the Company Group with respect to the period of time when you were employed by any member of the Company Group ("Audit").  You acknowledge that such cooperation may include, but shall not be limited to, your making yourself available to the Company or any other member of the Company Group (or their respective attorneys or auditors) upon reasonable notice for: (i) interviews, factual investigations, and providing declarations or affidavits that provide truthful information in connection with any Litigation or Audit; (ii) appearing at the request of the Company or any member of the Company Group to give testimony without requiring service of a subpoena or other legal process; (iii) volunteering to the Company or any member of the Company Group pertinent information related to any Litigation or Audit; (iv) providing information and legal representations to the auditors of the Company or any member of the Company Group, in a form and within a time frame requested by the Company's Board of Directors, with respect to the Company or any member of the Company Group's opening balance sheet valuation of intangibles and financial statements for the period in which you were employed by the Company or any member of the Company Group; and (v) turning over to the Company or any member of the Company Group any documents relevant to any Litigation or Audit that are or may come into your possession.  The Company shall reimburse you for reasonable travel expenses incurred in connection with providing the services under this Paragraph 12, including lodging and meals, upon your submission of receipts.   In the event your assistance to the Company under this Paragraph 12 exceeds 10 hours in any given calendar month, the Company shall pay you at a rate of $150 per hour for all time that you incur in providing the services described in this Paragraph 12 exceeding 10 hours in any given calendar month.  You shall submit an invoice to the Company on the 15th day of each month following any month in which you provide services that details the date, amount of time and a description of the services for each day that you provides services pursuant to this Paragraph 12.

	Entire Agreement.  Except for the Employee Agreement and the written awards agreements that evidence your Options and RSUs and any indemnification agreement you have with the Company, this Agreement constitutes the entire agreement between you and the Company concerning your employment with and separation from the Company and all the events leading thereto and associated therewith, and supersedes and replaces any and all prior agreements and understandings, both written and oral, concerning your relationship with the Company (including, without limitation, the 2007 Letter Agreement).  

	No Admission of Liability.  Each party understands and acknowledges that this Agreement constitutes a compromise and settlement of any and all potential disputed claims.  No action taken by the either party hereto, either previously or in connection with this Agreement, shall be deemed or construed to be: (a) an admission of the truth or falsity of any potential claims; or (b) an acknowledgment or admission by such party of any fault or liability whatsoever to the other party or to any third party.

	Authority. The Company represents and warrants that the undersigned has the authority to act on behalf of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Agreement.  Similarly, you represent and warrant that you have the capacity to act on your own behalf and on behalf of all who might claim through you to bind them to the terms and conditions of this Agreement.  The Company and you each warrant and represent that there are no liens or claims of lien or assignments in law or equity or otherwise of or against any of the claims or causes of action released herein.

	Solicitation of Employees.  You agree that for a period of twelve (12) months immediately following the Termination Date, you shall not either directly or indirectly solicit, induce, recruit or encourage any of the Company's employees to terminate their employment with the Company, or attempt to solicit, induce, recruit, or encourage employees of the Company to become employed or engaged as a consultant, either for yourself or for any other person or entity.  Furthermore, you understand and acknowledge that the Company may at its sole discretion notify any new employer of your ongoing rights and obligations under this Agreement and the Employee Agreement.

	Material Breaches of Agreement.  You acknowledge and agree that any breach of Paragraphs 5, 6, 7, 9, 11, or 16 shall constitute a material breach of the Agreement and in the case of a breach by you, shall entitle the Company immediately to recover the consideration described in Paragraph 3 above, except as provided by law and except for $10,000 of such amount which, in any event, the parties agree is good and adequate consideration (in and of itself) for the releases set forth in Paragraph 6.  In the event that the Company or you brings an action to enforce or effect their rights under this Agreement, the prevailing party shall be entitled to recover their reasonable attorneys' fees and expenses incurred in connection with such an action.

	Equity Interests.  The Company has previously granted options to you to acquire 285,600 shares of the Company's common stock (the "Options"), of which options to acquire 137,475 shares are vested as of the Termination Date ("Vested Options") and options to acquire 148,125 shares are unvested as of the Termination Date, and restricted stock unit awards covering 17,500 shares of the Company's common stock (the "RSUs"), 15,000 of which are unvested as of the Termination Date.  Your Options and RSUs, to the extent outstanding and unvested as of the Termination Date, are hereby cancelled as of the Termination Date and you have no further rights with respect thereto or in respect thereof.  Your Vested Options will remain exercisable for a period of eighteen (18) months following the Termination Date and, to the extent not exercised on or before the last day of such period shall terminate at the close of business on such day; provided, however, that in all events each of your Vested Options shall be subject to earlier termination at the end of the maximum term of such Vested Option or in connection with a change in control of the Company as provided in the applicable plan and/or option agreement that evidences such Vested Option.  You hereby acknowledge and agree that, except for the period in which to exercise your Vested Options set forth in the preceding sentence, you have no further right or benefits under any agreement to receive or acquire any security or derivative security in or with respect to the Company or any of its affiliates or subsidiaries.  

	Waivers; Modifications.  No waiver of any provision or consent to any exception to the terms of this Agreement shall be effective unless in writing and signed by the party to be bound and, then, only to the specific purpose, extent and instance so provided.  This Agreement may not be modified, amended, altered or supplemented except by the execution and delivery of a written agreement executed by you and an authorized representative of the Company.

	Severability.  If any provision of the Agreement or the application thereof is held invalid, such invalidity shall not affect other provisions or applications of the Agreement which can be given effect without the invalid provisions or application.

	Counterparts.  The Agreement may be executed in counterparts, and each counterpart when executed shall have the efficacy of a signed original.  Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose.

	Choice of Law.  The Agreement shall be construed and enforced in accordance with, and governed by, the laws of the State of California.  

	Voluntary Execution of Agreement; Legal Counsel.  You and the Company each recognize that this is a legally binding contract and acknowledge and agree that each party has had the opportunity to consult with legal counsel of their choice.  Each party has cooperated in the drafting, negotiation and preparation of this Agreement.  Hence, in any construction to be made of this Agreement, the same shall not be construed against either party on the basis of that party being the drafter of such language.  You agree and acknowledge that you have read and understand this Agreement, are entering into it freely and voluntarily, and have been advised to seek counsel prior to entering into this Agreement and have had ample opportunity to do so.

 

[Remainder of page intentionally left blank]

 

IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date set forth below.

 

AGREED AND ACCEPTED:

 

Nektar Therapeutics 

 

_/s/ Dorian Rinella_________________

By:  Dorian Rinella

Title: SVP, Human Resources

Date:  __November 20, 2008___

_/s/ John S. Patton________________

By:  John S. Patton

Date:  __November 17, 2008___

 

 

EXHIBIT A

ACKNOWLEDGEMENT AND WAIVER

I, John S. Patton, Ph.D., hereby acknowledge that I was given 21 days to consider the foregoing Separation and General Release Agreement and voluntarily chose to sign the Separation and General Release Agreement prior to the expiration of the 21-day period.

I declare under penalty of perjury under the laws of the state of California, that the foregoing is true and correct.

EXECUTED this ______ day of _________ 2008, at ____________ County, __________.

 

John S. Patton, Ph.D.

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