Document:

Employment Agreement

 EXHIBIT 10.22 
 EMPLOYMENT AGREEMENT 
 This Employment Agreement (the “Agreement”) is entered into on the
31st day of October 2005, by and between NPS Pharmaceuticals, Inc., a Delaware corporation, with a business address
at 383 Colorow Drive, Salt Lake City, Utah 84108, and its affiliates (collectively, “NPS” or the “Company”), and N. Anthony Coles, M.D. (“Dr. Coles”). 
 RECITALS 
 1. The Company desires to hire Dr. Coles as President and Chief
Operating Officer (President and COO), with the expectation that he will become Chief Executive Officer (CEO). 
 2. Dr. Coles is
leaving a current position in order to accept the position of President and COO, in accordance with these terms, with the expectation that he will become the Chief Executive Officer. 
 3. The Company and Dr. Coles have arrived at these terms as compensating Dr. Coles for leaving his current position and join the Company as
President and COO. 
 Based on the foregoing Recitals, and in consideration of the mutual promises contained herein, the Company and
Dr. Coles agree as follows: 
  

	I.	Employment Duties 

  

	 	a.	Position / Duties. Dr. Coles will be appointed President and COO of NPS, with duties and responsibilities commensurate with such position. Specifically, all functional
Vice Presidents, with the exception of the Senior Vice President, Legal Affairs and General Counsel and Vice President, Development will report to the President and COO. Dr. Coles will also be appointed as President and COO of all affiliates of
the Company. 

  

	 	b.	Date of Appointment. Dr. Coles will be appointed as President and COO on November 2, 2005. 

  

	 	c.	Reporting Relationship. Dr. Coles will report directly to the Chief Executive Officer of NPS. 

  

	 	d.	Board Membership. Dr. Coles will be elected to the Board of Directors of the Company (Board) at its scheduled Board meeting on November 2 and 3, 2005 in Parsipanny,
New Jersey. Dr. Coles will stand for election at the 2006 Annual Meeting of Stockholders. 

  

	 	e.	Location. Dr. Coles will have his primary office at the Company office in Parsippany, New Jersey. Dr. Coles agrees to travel as required on company business,
including but not limited to, the Company offices in Salt Lake City, Utah; Toronto, Ontario, and Mississauga, Ontario. 

  

	 	f.	Term of Agreement. This Agreement has a three (3) year term beginning on the date of this Agreement. This Agreement will be automatically extended by one
(1) year at the end of the term unless a notice of non-renewal is provided by the Company or by Dr. Coles at least ninety (90) days prior to renewal. 

  

	II.	Joining Compensation 

 In order to compensate
Dr. Coles for leaving his current employer, the Company will make the following one-time cash payments or equity awards. 
  

	 	a.	Sign-On Incentive. Within fifteen (15) days of appointment as President and COO, Dr. Coles will receive a total of $200,000 to cover his expected annual bonus
and an outstanding loan from his current employer. The total of those two payments will satisfy the Company’s bonus commitment to Dr. Coles for his employment in 2005. 

 Employment Agreement 
 N. Anthony Coles, M.D. 
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	 	b.	Make-Whole Grant. The Company awards the “make-whole” equity grants on the Date of Appointment, or as otherwise expressly provided herein, in order to lessen
the forgone equity grants which Dr. Coles will forfeit by leaving his current employment. These equity awards are subject to accelerated vesting upon a change in control, termination without cause or termination for good reason, as more
specifically described in Sections VIII and IX below. All equity awards described below are made under the Company’s 2005 Omnibus Equity Plan, attached as Exhibit A. 

  

	 	i.	Restricted Stock Units (RSUs). Dr. Coles will receive 180,000 employment-vested Restricted Stock Units, which will vest as follows: 

  

	 	•	 	45,000 RSUs on the second year anniversary of hire; 

  

	 	•	 	90,000 RSUs on the fourth year anniversary of hire; and 

  

	 	•	 	45,000 RSUs on the fifth year anniversary of hire. 

 The
Board has determined that these RSUs are not performance-based compensation. Attached, as Exhibit B, is a Restricted Stock Unit Agreement. 
  

	 	ii.	Stock Appreciation Rights (SARs). Dr. Coles will receive 150,000 stock settled SARs with an exercise price equal to fair market value on the date of grant. The
SARs will vest at the Company’s standard four-year vesting schedule (28% after one year and 2% each month thereafter). Attached, as Exhibit C, is a Stock Appreciation Rights Agreement. 

  

	 	iii.	Stock Options. Dr. Coles will receive 150,000 Non-Qualified Stock Options (NQSOs) with an exercise price equal to the fair market value on the date of grant. The NQSOs
will vest at the Company’s standard four-year vesting schedule (28% after one year and 2% each month thereafter). Attached, as Exhibit D, is a Stock Option Grant Agreement. 

  

	 	iv.	Succession to CEO. The advancement of Dr. Coles to CEO will be considered in six (6) months. No later than May 11, 2006, Dr. Coles will receive an
additional grant of 200,000 NQSOs, or other equity vehicle, as permitted under the Company’s 2005 Omnibus Incentive Plan, with an exercise price equal to the fair market value on the date of the grant. The Board has determined that any NQSOs
granted in this circumstance, would not be performance-based compensation. The NQSOs will vest at the Company’s standard four-year vesting schedule (28% after one year and 2% each month thereafter). 

  

	III.	Ongoing Annual Compensation 

  

	 	a.	Base Salary. Beginning on the date of appointment as President and COO, Dr. Coles will receive an annual base salary of $450,000 paid over the standard payroll
cycle of NPS. The Compensation Committee of the Board will adjust Dr. Coles’s salary when he is appointed CEO, and thereafter on such a schedule to be determined by the Company. 

  

	 	b.	Short-Term Incentives – Annual Bonus. Dr. Coles will participate in the Company’s current Executive Short-Term Incentive Plan which compensates Company
executives based on certain performance measures, which historically have been operational and financial measures. 

  

	 	i.	2006. The target bonus opportunity as President and COO under the Executive Short-Term Incentive Plan will be 45% of base salary. The Compensation Committee will adjust
the target bonus opportunity for Dr. Coles when he is appointed CEO. The annual target bonus opportunity for CEO is presently a minimum of 50% and a maximum of 100% of base salary. Dr. Coles will receive a bonus for the twelve
(12) months of 2006 in addition to the sign-on incentive provided under Section II.a. 

  

	 	ii.	2007. The Company will review the target bonus opportunity annually, in connection with reviewing compensation within the Company generally, to ensure it remains
competitive among a peer group of similarly situated pharmaceutical and biotechnology companies. 

 Employment Agreement 
 N. Anthony Coles, M.D. 
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	 	c.	Long-Term Incentives – Equity. The Company also compensates employees with equity-based long-term incentives. Dr. Coles, as President and COO, will receive
annual long-term incentive target awards with an annual value, based on the fair value of the equity award (e.g. Black-Scholes value of options) of $600,000, to be granted as stock options, restricted stock units, or other vehicles as permitted
under the Company’s 2005 Omnibus Plan. The initial long-term incentive award will be determined for Dr. Coles in January 2006, and will be granted in quarterly installments beginning in January 2006. The Compensation Committee will adjust
the amount of long-term incentive target award value for Dr. Coles when he is appointed CEO. Upon termination without Cause, or termination for Good Reason, the options that would otherwise have vested during the next twenty-four
(24) months will vest; and vested options will remain exercisable in accordance with the Company’s standard practice. Eligibility for future stock option grants and other long-term incentive awards are determined by recommendation of the
Compensation Committee of the Board, and adoption by the Board. 

  

	IV.	Relocation 

 The Company will pay relocation costs
in accordance with its policy or as otherwise approved by the Company, which includes standard relocation cost reimbursement. Relocation costs will be grossed-up in accordance with normal practices. 
  

	V.	Benefits 

 Dr. Coles will receive the following
benefit package, which the Company may revise from time to time, is currently provided to all non-temporary employees that work a minimum of 30 hours per week. 
  

	 	•	 	Medical insurance coverage for you and your legal dependents as defined by the Company’s standard insurance plan. 

  

	 	•	 	Dental insurance coverage for you and your legal dependents as defined by the Company’s standard insurance plan. 

  

	 	•	 	Long-term care insurance. 

  

	 	•	 	Short-term disability coverage. 

  

	 	•	 	Regular life insurance in the amount of one times your base salary. 

  

	 	•	 	Accidental death and dismemberment insurance in the amount of one times your base salary. 

  

	 	•	 	Long-term disability coverage. 

  

	 	•	 	A 401(k) plan – subject to that plan’s rules- currently the Company will match fifty percent (50%) of your contributions up to three percent (3%) of your annual
salary. Fifty percent (50 %) of the Company contribution becomes vested after one (1) year and one hundred percent (100%) is vested after two (2) years of service. 

  

	 	•	 	Option to participate in the 125 Cafeteria Plan which includes dependent care and health care flexible spending accounts. 

  

	 	•	 	Annual paid time off (PTO) of twenty-five days per year, with 7.7 hours earned per full pay period worked. 

  

	 	•	 	NPS also grants nine (9) Company holiday days every calendar year. 

  

	VI.	Restrictive Covenants 

 As a condition to
employment, Dr. Coles agrees to the Company’s Employee Agreement Concerning Invention Assignment, Non-Disclosure and Non-Competition (Employee Noncompete Agreement), attached as Exhibit E. The non-competition covenant required by the
Employee Noncompete Agreement shall be waived in the event of a Change in Control, as defined in the Company’s Change in Control Severance Pay Plan (Severance Plan), or in the event Dr. Coles’s employment is terminated without Cause
or Dr. Coles resigns for Good Reason. 

 Employment Agreement 
 N. Anthony Coles, M.D. 
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	VII.	Indemnification 

 Dr. Coles will be indemnified
to the same extent the Company indemnifies other officers and/or directors during and following employment and services as a Director. Attached, as Exhibit F, is the Indemnity Agreement. 
  

	VIII.	Change In Control Protection 

  

	 	a.	Severance Plan. The Company’s Severance Plan will cover Dr. Coles and allows him to exercise rights under the Severance Plan if his job prospects are
materially altered or he is involuntarily terminated (other than for cause) after a Change in Control. The severance benefit for the Chief Operating Officer is twenty-four (24) months of his total cash compensation target payable in a lump sum.
Attached, as Exhibit G, is the Company’s Change In Control Severance Pay Plan. 

  

	 	b.	Gross Up Payment. 

  

	 	i.	In the event it shall be determined that any compensation, payment or distribution by the Company to or for the benefit of Dr. Coles, whether paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise (the “Severance Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, or any interest or penalties are incurred by Dr. Coles with
respect to such excise tax (such excise tax, together with any such interest and penalties, are hereinafter collectively referred to as the “Excise Tax”), then Dr. Coles shall be entitled to receive an additional payment (a
“Gross-Up Payment”) such that the net amount retained by Dr. Coles, after deduction of any Excise Tax on the Severance Payments, any Federal, state, and local income tax, employment tax and Excise Tax upon the Gross-Up Payment, and
any interest and/or penalties assessed with respect to such Excise Tax, shall be equal to the amount Dr. Coles would have received had there been no Excise Tax imposed on the Severance Payments. 

  

	 	ii.	All determinations required to be made under this subparagraph (b), including whether a Gross-Up Payment is required and the amount of such Gross-Up Payment, shall be made by a
nationally recognized accounting firm selected by the Company (the “Accounting Firm”). For purposes of determining the amount of the Gross-Up Payment, Dr. Coles shall be deemed to pay Federal income taxes at the highest marginal rate
of Federal income taxation applicable to individuals for the calendar year in which the Gross-Up Payment is to be made, and state and local income taxes at the highest marginal rates of individual taxation in the state and locality of
Dr. Coles’s residence on the date of the Terminating Event, net of the maximum reduction in Federal income taxes which could be obtained from deduction of such state and local taxes. Any determination by the Accounting Firm shall be
binding upon the Company and Dr. Coles. 

  

	IX.	Termination Provisions (other than Change in Control) 

 Dr. Coles is an employee at will, whose employment may be terminated at any time, though he will be entitled to benefits under this Agreement in accordance with its terms. For purposes of this Section IX, the following definitions
apply: 
  

	 	a.	Definitions. For purpose of this section, the following definitions apply. 

  

	 	i.	 Cause. Cause is (a) an act of material dishonesty by Dr. Coles in connection with Dr. Coles’s responsibilities as an employee,
(b) Dr. Coles’s conviction of, or plea of nolo contendere to, a felony, (c) Dr. Coles’s gross misconduct in connection with the performance or failure of performance of a material component of Dr. Coles’s
responsibilities as an employee that is materially injurious to the Company, or (d) Dr. Coles’s continued substantial violations of his employment duties after Dr. Coles has received a written demand for performance from the Company
which specifically sets forth the factual basis for the Company’s belief that the Covered Employee has not substantially performed such duties and after Dr. Coles has been provided with a sixty (60) day cure period. In each case,
termination shall not be deemed for 

 Employment Agreement 
 N. Anthony Coles, M.D. 
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Cause unless Dr. Coles receives a copy of a resolution duly adopted by a seventy-five percent (75%) vote of the Board of Directors, excluding
Dr. Coles at a meeting of the Board of Directors. Dr. Coles will be given reasonable notice of such meeting and will be given a reasonable opportunity to be heard by the Board of Directors. 

  

	 	ii.	Good Reason. Good Reason, under this Agreement, is limited to the failure of the Company to name Dr. Coles as CEO. 

  

	 	b.	Termination by the Company Without Cause. If Dr. Coles is terminated by the Company without Cause, he is entitled to the following: 

  

	 	i.	Base salary provided under this agreement for the longer of the remainder of the agreement term or twenty-four (24) months. 

  

	 	ii.	Immediate vesting of the “make-whole” equity awards in Section II (including specifically in Section II.b.iv) above. 

  

	 	iii.	Other long-term incentive or equity awards that would otherwise have vested during the next twenty-four (24) months will immediately vest. 

  

	 	iv.	Vested options will remain exercisable for the longer of (a) twenty-four (24) months, or (b) such other period as Dr. Coles may be entitled under any Company
stock option plan, grant agreement, or retirement plan. 

  

	 	c.	Termination by the Company For Cause. If Dr. Coles is terminated by the Company For Cause, he is entitled to the following: 

  

	 	i.	The “make-whole” equity awards in Section II above, will not be immediately vested. 

  

	 	ii.	Other long-term incentive or equity awards would not be subject to accelerated vesting. 

  

	 	iii.	Vested stock options are exercisable for ninety (90) days. 

  

	 	d.	Termination by Dr. Coles for Good Reason. If Dr. Coles is not named CEO of the Company within six (6) months of his appointment as President and COO, and
he elects to terminate his employment, he is entitled to the following: 

  

	 	i.	Base salary and target annual incentive provided under this agreement for the longer of the remainder of the agreement term or twenty four (24) months.

  

	 	ii.	The “make-whole” equity awards in Section II (including specifically in Section II.b.iv) above, will be immediately vested. 

  

	 	iii.	Other long-term incentive or equity awards that would otherwise have vested during the next twenty-four (24) months will immediately vest. 

  

	 	iv.	Vested options will remain exercisable for the longer of (a) twenty-four (24) months, or (b) such other period as Dr. Coles may be entitled under any Company
stock option plan, grant agreement, or retirement plan. 

  

	 	e.	Section 409A. To the extent required by Section 409A of the Internal Revenue Code and the regulations thereunder to avoid imposition of the 20% additional tax,
the severance payments set forth in paragraphs b, c and d of this Section IX shall be delayed until at least six (6) months after Dr. Coles’s termination of employment. The severance amounts that would otherwise be payable during the
six (6) month period following Dr. Coles’s termination of employment shall be paid in a lump sum in the seventh (7th) month following Dr. Coles’s termination of employment. 

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	 	f.	Death or Disability. Upon death or total disability, Dr. Coles (or his estate) will be entitled to: 

  

	 	i.	A prorated annual incentive and pro-rated long-term incentive (if applicable) based upon the number of weeks of service performed in the performance cycle and based on performance
to date as determined by the Board. 

  

	 	ii.	The “make-whole” equity awards in Section II (including specifically in Section II.b.iv) above, will be immediately vested. 

  

	 	iii.	Vested options will remain exercisable in accordance with the terms of the 2005 Omnibus Incentive Plan. 

  

	 	g.	Termination by Dr. Coles for any other reason. If Dr. Coles voluntarily terminates his employment without Good Reason, he is entitled to no further benefits
under this Agreement. 

  

	X.	Misc. Provisions 

  

	 	a.	Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs, personal representatives, successors and
assigns, provided that neither Party shall assign any of its rights or privileges hereunder without the prior written consent of the other Party except that the Company may assign its rights hereunder to a successor in ownership of all or
substantially all the assets of the Company. 

  

	 	b.	Severability. Should any part or provision of this Agreement be held unenforceable by a court of competent jurisdiction, the validity of the remaining parts or
provisions shall not be affected by such holding, unless such enforceability substantially impairs the benefit of the remaining portions of the Agreement. 

  

	 	c.	Captions. The captions used in this Agreement are for convenience only and are not to be used in interpreting the obligations of the Parties under this Agreement.

  

	 	d.	Choice of Law. The validity, construction and performance of this Agreement and the transactions to which it relates shall be governed by the laws of the State of New
York, without regard to choice of laws provisions, and the Company and Dr. Coles irrevocably consent to the exclusive jurisdiction and venue of the federal and state courts located within New York, and courts with appellate jurisdiction
therefrom, in connection with any matter based upon or arising out of this Agreement. 

  

	 	e.	Entire Agreement. This Agreement embodies the entire understanding of the Parties as it relates to the subject matter contained herein and as such, supersedes any prior
agreement or understanding between the Parties relating to the terms of employment of Dr. Coles. No amendment or modification of this Agreement shall be valid or binding upon the Parties unless in writing executed by the Parties.

  

							
		 		 	NPS PHARMACEUTICALS, INC.
				
	 /S/ N. ANTHONY COLES
  
	 		 	By:	 	 /S/ HUNTER JACKSON
  

	N. Anthony Coles, M.D.	 		 		 	 Hunter Jackson,
 CEO, Chairman of the Board and
President

				
	 Date: October 31, 2005
	 		 	Date:	 	October 31, 2005

 Exhibit A 
 to the 
 Employment Agreement 
 between 
 NPS Pharmaceuticals, Inc. 
 and 
 N. Anthony Coles, M.D.

 2005 OMNIBUS INCENTIVE PLAN 

 NPS Pharmaceuticals, Inc. 
 2005 Omnibus Incentive Plan 
 Article 1. Establishment, Purpose and Duration 
 1.1 Establishment. NPS Pharmaceuticals, Inc., a Delaware corporation (hereinafter referred to as the “Company”), establishes
an incentive compensation plan to be known as the NPS Pharmaceuticals, Inc. 2005 Omnibus Incentive Plan (hereinafter referred to as the “Plan”), as set forth in this document. 
 This Plan permits the grant of Nonqualified Stock Options, Incentive Stock Options, Stock Appreciation Rights, Restricted Stock, Restricted Stock Units,
Performance Shares, Performance Units, Cash-Based Awards, and Other Stock-Based Awards. 
 This Plan shall become effective upon stockholder
approval (the “Effective Date”) and shall remain in effect as provided in Section 1.3 hereof. 
 1.2 Purpose of this
Plan. This Plan has been established by the Company to provide a means by which Employees, Directors, and Third Party Service Providers of the Company and its Subsidiaries and Affiliates may be given the opportunity to benefit from
increases in the value of Shares through the granting of Awards under this Plan. The Company seeks to (a) retain the services of present Employees, Directors, and Third Party Service Providers; (b) secure and retain the services of new
Employees, Directors, and Third Party Service Providers; and (c) provide incentives for such persons to exert maximum efforts for the success of the Company and thereby promote the long-term interests of the Company, including the growth in
value of the Company’s equity and enhancement of long-term stockholder return. 
 1.3 Duration of this Plan. Unless
sooner terminated as provided herein, this Plan shall terminate ten (10) years from the Effective Date. After this Plan is terminated, no Awards may be granted but Awards previously granted shall remain outstanding in accordance with their
applicable terms and conditions and this Plan’s terms and conditions. Notwithstanding the foregoing, no Incentive Stock Options may be granted more than ten (10) years after the earlier of the adoption of this Plan by the Board or the
Effective Date. 
 Article 2. Definitions 
 Whenever used in this Plan, the following terms shall have the meanings set forth below, and when the meaning is intended, the initial letter of the word shall be capitalized. 
 2.1 “Affiliate” shall mean any corporation or other entity (including, but not limited to, a partnership or a limited liability
company), that is affiliated with the Company through stock or equity ownership or otherwise, and is designated as an Affiliate for purposes of this Plan by the Committee. 
 2.2 “Annual Award Limit” or “Annual Award Limits” have the meaning set forth in Section 4.3. 
 2.3 “Award” means, individually or collectively, a grant under this Plan of Nonqualified Stock Options, Incentive Stock Options,
SARs, Restricted Stock, Restricted Stock Units, Performance Shares, Performance Units, Cash-Based Awards, or Other Stock-Based Awards, in each case subject to the terms of this Plan. 
 2.4 “Award Agreement” means either (a) a written agreement entered into by the Company and a Participant setting forth the terms
and provisions applicable to an Award granted under this Plan, or (b) a written or electronic statement issued by the Company to a Participant describing the terms and provisions of such Award, including any amendment or modification thereof.
The Committee may provide for the use of electronic, internet or other non-paper Award Agreements, and the use of electronic, internet or other non-paper means for the acceptance thereof and actions thereunder by a Participant. 
  

 1 

 2.5 “Beneficial Owner” or “Beneficial Ownership” shall have the meaning
ascribed to such term in Rule 13d-3 of the General Rules and Regulations under the Exchange Act. 
 2.6 “Board” or
“Board of Directors” means the Board of Directors of the Company. 
 2.7 “Cash-Based Award” means an
Award, denominated in cash, granted to a Participant as described in Article 10. 
 2.8 “Code” means the U.S. Internal
Revenue Code of 1986, as amended from time to time. For purposes of this Plan, references to sections of the Code shall be deemed to include references to any applicable regulations thereunder and any successor or similar provision. 
 2.9 “Committee” means the Compensation Committee of the Board or a subcommittee thereof, or any other committee designated by the Board
to administer this Plan. If the Committee does not exist or cannot function for any reason, the Board may take any action under the Plan that would otherwise be the responsibility of the Committee. 
 2.10 “Company” means NPS Pharmaceuticals, Inc., a Delaware corporation, and any successor thereto as provided in Article 19
herein. 
 2.11 “Covered Employee” means any salaried Employee who is or may become a “Covered Employee,” as
defined in Code Section 162(m), and who is designated, either as an individual Employee or class of Employees, by the Committee within the shorter of (a) ninety (90) days after the beginning of the Performance Period, or
(b) twenty-five percent (25%) of the Performance Period has elapsed, as a “Covered Employee” under this Plan for such applicable Performance Period. 
 2.12 “Director” means any individual who is a member of the Board of Directors of the Company. 
 2.13 “Effective Date” has the meaning set forth in Section 1.1. 
 2.14 “Employee” means any
person designated as an employee of the Company, its Affiliates, and/or its Subsidiaries on the payroll records thereof. An Employee shall not include any individual during any period he or she is classified or treated by the Company, Affiliate,
and/or Subsidiary as an independent contractor, a consultant, or any employee of an employment, consulting, or temporary agency or any other entity other than the Company, Affiliate, and/or Subsidiary, without regard to whether such individual is
subsequently determined to have been, or is subsequently retroactively reclassified as a common-law employee of the Company, Affiliate, and/or Subsidiary during such period. 
 2.15 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor act thereto. 

2.16 “Fair Market Value” or “FMV” means a price that is based on the opening, closing, actual, high, low, or average
selling prices of a Share reported on the National Market System of the National Association of Securities Dealers, Inc. Automated Quotation System (“Nasdaq”) or other established stock exchange (or exchanges) on the applicable date, the
preceding trading day, the next succeeding trading day, or an average of trading days, as determined by the Committee in its discretion. Unless the Committee determines otherwise, Fair Market Value shall be deemed to be equal to the closing price of
a Share on the most recent date on which Shares were publicly traded. In the event Shares are not publicly traded at the time a determination of their value is required to be made hereunder, the determination of their Fair Market Value shall be made
by the Committee in such manner as it deems appropriate. Such definition(s) of FMV shall be specified in each Award Agreement and may differ depending on whether FMV is in reference to the grant, exercise, vesting, settlement, or payout of an Award.

 2.17 “Freestanding SAR” means an SAR that is granted independently of any Options, as described in Article 7. 

 

 2 

 2.18 “Full Value Award” means an Award other than in the form of an ISO, NQSO, or SAR,
and which is settled by the issuance of Shares. 
 2.19 “Grant Price” means the price established at the time of grant of a
SAR pursuant to Article 7, used to determine whether there is any payment due upon exercise of the SAR. 
 2.20 “Incentive Stock
Option” or “ISO” means an Option to purchase Shares granted under Article 6 to an Employee and that is designated as an Incentive Stock Option and that is intended to meet the requirements of Code Section 422, or
any successor provision. 
 2.21 “Insider” shall mean an individual who is, on the relevant date, an officer, or Director of
the Company, or a more than ten percent (10%) Beneficial Owner of any class of the Company’s equity securities that is registered pursuant to Section 12 of the Exchange Act, as determined by the Board in accordance with
Section 16 of the Exchange Act. 
 2.22 “Nonemployee Director” means a Director who is not an Employee. 
 2.23 “Nonemployee Director Award” means any NQSO, SAR, or Full Value Award granted, whether singly, in combination, or in tandem, to a
Participant who is a Nonemployee Director pursuant to such applicable terms, conditions, and limitations as the Board or Committee may establish in accordance with this Plan. 
 2.24 “Nonqualified Stock Option” or “NQSO” means an Option that is not intended to meet the requirements of Code
Section 422, or that otherwise does not meet such requirements. 
 2.25 “Option” means an Incentive Stock Option or a
Nonqualified Stock Option, as described in Article 6. 
 2.26 “Option Price” means the price at which a Share may be
purchased by a Participant pursuant to an Option. 
 2.27 “Other Stock-Based Award” means an equity-based or equity-related
Award not otherwise described by the terms of this Plan, granted pursuant to Article 10. 
 2.28 “Participant” means any
eligible individual as set forth in Article 5 to whom an Award is granted. 
 2.29 “Performance-Based Compensation” means
compensation under an Award that is intended to satisfy the requirements of Code Section 162(m) for certain performance-based compensation paid to Covered Employees. Notwithstanding the foregoing, nothing in this Plan shall be construed to mean
that an Award which does not satisfy the requirements for performance-based compensation under Code Section 162(m) does not constitute performance-based compensation for other purposes, including Code Section 409A. 
 2.30 “Performance Measures” means measures as described in Article 11 on which the performance goals are based and which are approved by
the Company’s stockholders pursuant to this Plan in order to qualify Awards as Performance-Based Compensation. 
 2.31
“Performance Period” means the period of time during which the performance goals must be met in order to determine the degree of payout and/or vesting with respect to an Award. 
 2.32 “Performance Share” means an Award under Article 9 herein and subject to the terms of this Plan, denominated in Shares, the
value of which at the time it is payable is determined as a function of the extent to which corresponding performance criteria have been achieved. 
 2.33 “Performance Unit” means an Award under Article 9 herein and subject to the terms of this Plan, denominated in units, the value of which at the time it is payable is determined as a function of the extent to which
corresponding performance criteria have been achieved. 
  

 3 

 2.34 “Period of Restriction” means the period when Restricted Stock or Restricted Stock
Units are subject to a substantial risk of forfeiture (based on the passage of time, the achievement of performance goals, or upon the occurrence of other events as determined by the Committee, in its discretion), as provided in Article 8.

 2.35 “Person” shall have the meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in
Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d) thereof. 
 2.36 “Plan”
means the NPS Pharmaceuticals, Inc. 2005 Omnibus Incentive Plan. 
 2.37 “Plan Year” means the Company’s fiscal year.

 2.38 “Restricted Stock” means an Award granted to a Participant pursuant to Article 8. 
 2.39 “Restricted Stock Unit” means an Award granted to a Participant pursuant to Article 8, except no Shares are actually awarded to the
Participant on the date of grant. 
 2.40 “Share” means a share of common stock of the Company, par value of $.001 per
share. 
 2.41 “Stock Appreciation Right” or “SAR” means an Award, designated as a SAR, pursuant to the
terms of Article 7 herein. 
 2.42 “Subsidiary” means any corporation or other entity, whether domestic or foreign, in which
the Company has or obtains, directly or indirectly, a proprietary interest of more than fifty percent (50%) by reason of stock ownership or otherwise. 
 2.43 “Tandem SAR” means an SAR that is granted in connection with a related Option pursuant to Article 7 herein, the exercise of which shall require forfeiture of the right to purchase a Share under
the related Option (and when a Share is purchased under the Option, the Tandem SAR shall similarly be canceled). 
 2.44 “Third Party
Service Provider” means any consultant, agent, advisor, or independent contractor who renders services to the Company, a Subsidiary, or an Affiliate that (a) are not in connection with the offer and sale of the Company’s
securities in a capital raising transaction, and (b) do not directly or indirectly promote or maintain a market for the Company’s securities. 
 Article 3. Administration 
 3.1 General. The Plan shall be administered by or under
the direction of the Board unless and until the Board delegates administration to a committee of the Board. The Board may employ attorneys, consultants, accountants, agents, and other individuals, any of whom may be an Employee, and the Board, the
Company, and its officers and Directors shall be entitled to rely upon the advice, opinions, or valuations of any such individuals. All actions taken and all interpretations and determinations made by the Board shall be final and binding upon the
Participants, the Company, and all other interested individuals. 
 3.2 Authority of the Board. The Board shall have full
and exclusive discretionary power to interpret the terms and the intent of this Plan and any Award Agreement or other agreement or document ancillary to or in connection with this Plan, to determine eligibility for Awards and to adopt such rules,
regulations, forms, instruments, and guidelines for administering this Plan as the Board may deem necessary or proper. Such authority shall include, but not be limited to, selecting Award recipients, establishing all Award terms and conditions,
including the terms and conditions set forth in Award Agreements, granting Awards as an alternative to or as the form of payment for grants or rights earned or due under compensation plans or arrangements of the Company, construing any ambiguous
provision of the Plan or any Award Agreement, and, subject to Article 16, adopting modifications and amendments to this Plan or any Award Agreement, including without limitation, any that are necessary to comply with the laws of the countries and
other jurisdictions in which the Company, its Affiliates, and/or its Subsidiaries operate. 
  

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 3.3 Delegation. 
  

	 	(a)	The Board may delegate administration of the Plan to a Board committee composed of not fewer than two members. All members of such committee shall be Nonemployee Directors, to the
extent necessary to comply with the applicable provisions of Rule 16b-3, Section 162(m) and the listing requirements of the Nasdaq Stock Market. If administration is delegated to a committee, the committee shall have, in connection with the
administration of the Plan, the powers theretofore possessed by the Board (and references in this Plan to the Board shall in such event, be to the committee), subject, however, to such resolutions, not inconsistent with the provisions of the Plan,
as may be adopted from time to time by the Board. The Board may abolish the committee at any time and revest in the Board the administration of the Plan. 

  

	 	(b)	The Board may delegate to one or more of its members or to one or more officers of the Company, and/or its Subsidiaries and Affiliates or to one or more agents or advisors such
administrative duties or powers as it may deem advisable, and the Board or any individuals to whom it has delegated duties or powers as aforesaid may employ one or more individuals to render advice with respect to any responsibility the Board or
such individuals may have under this Plan. The Board may, by resolution, authorize one or more officers of the Company to do one or both of the following on the same basis as can the Board: (1) designate Employees to be recipients of Awards;
and (2) determine the size of any such Awards; provided, however, (i) the Board shall not delegate such responsibilities to any such officer for Awards granted to an Employee who is considered an Insider; (ii) the resolution providing
such authorization sets forth the total number of Awards such officer(s) may grant; and (iii) the officer(s) shall report periodically to the Board regarding the nature and scope of the Awards granted pursuant to the authority delegated.

 Article 4. Shares Subject to this Plan and Maximum Awards 
 4.1 Number of Shares Available for Awards. 
  

	 	(a)	Subject to adjustment as provided in Section 4.4 herein, the maximum number of Shares available for grant to Participants under this Plan shall be two million seven hundred
thousand (2,700,000) Shares (the “Share Authorization”). 

  

	 	(b)	The maximum number of Shares of the Share Authorization that may be issued pursuant to ISOs under this Plan shall be two million seven hundred thousand (2,700,000) Shares.

 4.2 Share Usage. Shares covered by an Award shall only be counted as used to the extent they are actually
issued. Any Shares related to Awards which terminate by expiration, forfeiture, cancellation, or otherwise without the issuance of such Shares, are settled in cash in lieu of Shares, or are exchanged with the Board’s permission, prior to the
issuance of Shares, for Awards not involving Shares, shall be available again for grant under this Plan. Moreover, if the Option Price of any Option granted under this Plan or the tax withholding requirements with respect to any Award granted under
this Plan are satisfied by tendering Shares to the Company (by either actual delivery or by attestation), or if an SAR is exercised, only the number of Shares issued, net of the Shares tendered, if any, will be deemed delivered for purposes of
determining the maximum number of Shares available for delivery under this Plan. The Shares available for issuance under this Plan may be authorized and unissued Shares or treasury Shares. 
 4.3 Annual Award Limits. Unless and until the Board determines that an Award to a Covered Employee shall not be designed to qualify as
Performance-Based Compensation, the following limits (each an “Annual Award Limit” and, collectively, “Annual Award Limits”) shall apply to grants of such Awards under this Plan: 
  

	 	(a)	Options. The maximum aggregate number of Shares subject to Options granted in any one Plan Year to any one Participant shall be one hundred fifty thousand
(150,000) plus the amount of the Participant’s unused applicable Annual Award Limit for Options as of the close of the previous Plan Year. 

  

 5 

	 	(b)	SARs. The maximum number of Shares subject to Stock Appreciation Rights granted in any one Plan Year to any one Participant shall one hundred fifty thousand
(150,000) plus the amount of the Participant’s unused applicable Annual Award Limit for SARs as of the close of the previous Plan Year. 

  

	 	(c)	Restricted Stock or Restricted Stock Units. The maximum aggregate grant with respect to Awards of Restricted Stock or Restricted Stock Units in any one Plan Year to any
one Participant shall be eighty thousand (80,000) plus the amount of the Participant’s unused applicable Annual Award Limit for Restricted Stock or Restricted Stock Units as of the close of the previous Plan Year. 

 

	 	(d)	Performance Units or Performance Shares. The maximum aggregate Award of Performance Units or Performance Shares that a Participant may receive in any one Plan Year shall
be eighty thousand (80,000) Shares, or equal to the value of eighty thousand (80,000) Shares determined as of the date of vesting or payout, as applicable plus the amount of the Participant’s unused applicable Annual Award Limit for
Performance Units or Performance Shares as of the close of the previous Plan Year. 

  

	 	(e)	Cash-Based Awards. The maximum aggregate amount awarded or credited with respect to Cash-Based Awards to any one Participant in any one Plan Year may not exceed the
value of one million dollars ($1,000,000), plus the amount of the Participant’s unused applicable Annual Award Limit as of the close of the previous Plan Year. 

  

	 	(f)	Other Stock-Based Awards. The maximum aggregate grant with respect to Other Stock-Based Awards pursuant to Section 10.2 in any one Plan Year to any one Participant
shall be eighty thousand (80,000) plus the amount of the Participant’s unused applicable Annual Award Limit for Other Stock-Based Awards as of the close of the previous Plan Year. 

 4.4 Adjustments in Authorized Shares. In the event of any corporate event or transaction (including, but not limited to, a change in
the Shares of the Company or the capitalization of the Company) such as a merger, consolidation, reorganization, recapitalization, separation, partial or complete liquidation, stock dividend, stock split, reverse stock split, split up, spin-off, or
other distribution of stock or property of the Company, combination of Shares, exchange of Shares, dividend in kind, or other like change in capital structure, number of outstanding Shares or distribution (other than normal cash dividends) to
shareholders of the Company, or any similar corporate event or transaction, the Board, in its sole discretion, in order to prevent dilution or enlargement of Participants’ rights under this Plan, shall substitute or adjust, as applicable, the
number and kind of Shares that may be issued under this Plan or under particular forms of Awards, the number and kind of Shares subject to outstanding Awards, the Option Price or Grant Price applicable to outstanding Awards, the Annual Award Limits,
and other value determinations applicable to outstanding Awards. The Board, in its sole discretion, may also make appropriate adjustments in the terms of any Awards under this Plan to reflect or related to such changes or distributions and to modify
any other terms of outstanding Awards. The determination of the Board as to the foregoing adjustments, if any, shall be conclusive and binding on Participants under this Plan. 
 Subject to the provisions of Article 16 and notwithstanding anything else herein to the contrary, without affecting the number of Shares reserved or
available hereunder, the Board may authorize the issuance or assumption of benefits under this Plan in connection with any merger, consolidation, acquisition of property or stock, or reorganization upon such terms and conditions as it may deem
appropriate (including, but not limited to, a conversion of equity awards into Awards under this Plan in a manner consistent with paragraph 53 of FASB Interpretation No. 44), subject to compliance with the rules under Code Sections 422 and 424,
as and where applicable. 
  

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 Article 5. Eligibility and Participation 
 5.1 Eligibility. Individuals eligible to participate in this Plan include all Employees, Directors, and Third Party Service Providers.

 5.2 Actual Participation. Subject to the provisions of this Plan, the Board may, from time to time, select from all
eligible individuals, those individuals to whom Awards shall be granted and shall determine, in its sole discretion, the nature of, any and all terms permissible by law, and the amount of each Award. 
 Article 6. Stock Options 
 6.1 Grant
of Options. Subject to the terms and provisions of this Plan, Options may be granted to Participants in such number, and upon such terms, and at any time and from time to time as shall be determined by the Board, in its sole
discretion; provided that ISOs may be granted only to eligible Employees of the Company or of any parent or subsidiary corporation (as permitted under Code Sections 422 and 424). However, an Employee who is employed by an Affiliate and/or Subsidiary
and is subject to Code Section 409A, may only be granted Options to the extent the Affiliate and/or Subsidiary is part of the Company’s consolidated group for United States federal tax purposes. 
 6.2 Award Agreement. Each Option grant shall be evidenced by an Award Agreement that shall specify the Option Price, the maximum
duration of the Option, the number of Shares to which the Option pertains, the conditions upon which an Option shall become vested and exercisable, and such other provisions as the Board shall determine which are not inconsistent with the terms of
this Plan. The Award Agreement also shall specify whether the Option is intended to be an ISO or a NQSO. 
 6.3 Option
Price. The Option Price for each grant of an Option under this Plan shall be determined by the Board in its sole discretion and shall be specified in the Award Agreement; provided, however, the Option Price on the date of grant must
be at least equal to one hundred percent (100%) of the FMV of the Shares as determined on the date of grant. 
 6.4 Term of
Options. Each Option granted to a Participant shall expire at such time as the Board shall determine at the time of grant; provided, however, no Option shall be exercisable later than the tenth (10th) anniversary date of its grant. Notwithstanding the foregoing, for Nonqualified Stock Options granted to Participants outside the United
States, the Board has the authority to grant Nonqualified Stock Options that have a term greater than ten (10) years. 
 6.5 Exercise
of Options. Options granted under this Article 6 shall be exercisable at such times and be subject to such restrictions and conditions as the Board shall in each instance approve, which terms and restrictions need not be the same for
each grant or for each Participant. 
 6.6 Payment. Options granted under this Article 6 shall be exercised by the
delivery of a notice of exercise to the Company or an agent designated by the Company in a form specified or accepted by the Board, or by complying with any alternative procedures which may be authorized by the Board, setting forth the number of
Shares with respect to which the Option is to be exercised, accompanied by full payment for the Shares. 
 A condition of the issuance of the
Shares as to which an Option shall be exercised shall be the payment of the Option Price. The Option Price of any Option shall be payable to the Company in full either: (a) in cash or its equivalent; (b) by tendering (either by actual
delivery or attestation) previously acquired Shares having an aggregate Fair Market Value at the time of exercise equal to the Option Price (provided that except as otherwise determined by the Board, the Shares that are tendered must have been held
by the Participant for at least six (6) months (or such other period, if any, as the Board may permit) prior to their tender to satisfy the Option Price if acquired under this Plan or any other compensation plan maintained by the Company or
have been purchased on the open market); (c) pursuant to a broker-assisted exercise same-day sales program; (d) by a combination of (a) (b), and (c); or (e) any other method approved or accepted by the Board in its sole
discretion. 
  

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 Subject to any governing rules or regulations, as soon as practicable after receipt of written
notification of exercise and full payment (including satisfaction of any applicable tax withholding), the Company shall deliver to the Participant evidence of book entry Shares, or upon the Participant’s request, Share certificates in an
appropriate amount based upon the number of Shares purchased under the Option(s). 
 Unless otherwise determined by the Board, all payments
under all of the methods indicated above shall be paid in United States dollars. 
 6.7 Restrictions on Share
Transferability. The Board may impose such restrictions on any Shares acquired pursuant to the exercise of an Option granted under this Article 6 as it may deem advisable, including, without limitation, minimum holding period requirements,
restrictions under applicable federal securities laws, under the requirements of any stock exchange or market upon which such Shares are then listed and/or traded, or under any blue sky or state securities laws applicable to such Shares.

 6.8 Termination of Employment. Each Participant’s Award Agreement shall set forth the extent to which the
Participant shall have the right to exercise the Option following termination of the Participant’s employment or provision of services to the Company, its Affiliates, and/or its Subsidiaries, as the case may be. Such provisions shall be
determined in the sole discretion of the Board, shall be included in the Award Agreement entered into with each Participant, need not be uniform among all Options issued pursuant to this Article 6, and may reflect distinctions based on the reasons
for termination. 
 6.9 Notification of Disqualifying Disposition. If any Participant shall make any disposition of
Shares issued pursuant to the exercise of an ISO under the circumstances described in Code Section 421(b) (relating to certain disqualifying dispositions), such Participant shall notify the Company of such disposition prior to the end of the
calendar year in which such disposition occurred. 
 6.10 Retirement of Participant. Notwithstanding any contrary provision in
this Plan, in the event a Participant’s employment as an Employee, or service as a Director or Third Party Service Provider terminates due to a Participant’s Retirement, the Participant shall vest in that number of Shares subject to the
Option that would have vested had the Participant remained an Employee, Director, or Third Party Service Provider for an additional two (2) years from the date of Retirement. In addition, the Option shall remain exercisable until the expiration
of its term. For purposes of this paragraph, “Retirement” shall mean the termination of service of a Participant with the Company, a Subsidiary, or an Affiliate on or after the date on which the Participant’s number of completed years
of service with the Company, a Subsidiary, or Affiliate and age equal or exceed seventy (70) (including termination due to death or Disability after such time). 
 Article 7. Stock Appreciation Rights 
 7.1 Grant of SARs. Subject to the terms and
conditions of this Plan, SARs may be granted to Participants at any time and from time to time as shall be determined by the Board. The Board may grant Freestanding SARs, Tandem SARs, or any combination of these forms of SARs. However, an Employee
who is employed by an Affiliate and/or Subsidiary and is subject to Code Section 409A, may only be granted SARs to the extent the Affiliate and/or Subsidiary is part of the Company’s consolidated group for United States federal tax
purposes. 
 Subject to the terms and conditions of this Plan, the Board shall have complete discretion in determining the number of SARs
granted to each Participant and, consistent with the provisions of this Plan, in determining the terms and conditions pertaining to such SARs. 
 The Grant Price for each grant of a Freestanding SAR shall be determined by the Board and shall be specified in the Award Agreement; provided, however, the Grant Price on the date of grant must be at least equal to one hundred percent
(100%) of the FMV of the Shares as determined on the date of grant. The Grant Price of Tandem SARs shall be equal to the Option Price of the related Option. 
  

 8 

 7.2 SAR Agreement. Each SAR Award shall be evidenced by an Award Agreement that shall
specify the Grant Price, the term of the SAR, and such other provisions as the Board shall determine. 
 7.3 Term of
SAR. The term of an SAR granted under this Plan shall be determined by the Board, in its sole discretion, and except as determined otherwise by the Board and specified in the SAR Award Agreement, no SAR shall be exercisable later
than the tenth (10th) anniversary date of its grant. Notwithstanding the foregoing, for SARs granted to
Participants outside the United States, the Board has the authority to grant SARs that have a term greater than ten (10) years. 
 7.4 Exercise of Freestanding SARs. Freestanding SARs may be exercised upon whatever terms and conditions the Board, in its sole discretion, imposes. 
 7.5. Exercise of Tandem SARs. Tandem SARs may be exercised for all or part of the Shares subject to the related Option upon the
surrender of the right to exercise the equivalent portion of the related Option. A Tandem SAR may be exercised only with respect to the Shares for which its related Option is then exercisable. 
 Notwithstanding any other provision of this Plan to the contrary, with respect to a Tandem SAR granted in connection with an ISO: (a) the Tandem SAR
will expire no later than the expiration of the underlying ISO; (b) the value of the payout with respect to the Tandem SAR may be for no more than one hundred percent (100%) of the excess of the Fair Market Value of the Shares subject
to the underlying ISO at the time the Tandem SAR is exercised over the Option Price of the underlying ISO; and (c) the Tandem SAR may be exercised only when the Fair Market Value of the Shares subject to the ISO exceeds the Option Price of the
ISO. 
 7.6 Settlement of SAR Amount. Upon the exercise of an SAR, a Participant shall be entitled to receive payment from
the Company in an amount determined by multiplying the excess of the Fair Market Value of a Share on the date of exercise over the Grant Price by the number of Shares with respect to which the SAR is exercised. 
 At the discretion of the Board, the payment upon SAR exercise may be in cash, Shares, or any combination thereof, or in any other manner approved by the
Board in its sole discretion. The Board’s determination regarding the form of SAR payout shall be set forth in the Award Agreement pertaining to the grant of the SAR. 
 7.7 Termination of Employment. Each Award Agreement shall set forth the extent to which the Participant shall have the right to
exercise the SAR following termination of the Participant’s employment with or provision of services to the Company, its Affiliates, and/or its Subsidiaries, as the case may be. Such provisions shall be determined in the sole discretion of the
Board, shall be included in the Award Agreement entered into with Participants, need not be uniform among all SARs issued pursuant to this Plan, and may reflect distinctions based on the reasons for termination. 
 7.8 Other Restrictions. The Board shall impose such other conditions and/or restrictions on any Shares received upon exercise of a SAR
granted pursuant to this Plan as it may deem advisable or desirable. These restrictions may include, but shall not be limited to, a requirement that the Participant hold the Shares received upon exercise of a SAR for a specified period of time.

 Article 8. Restricted Stock and Restricted Stock Units 
 8.1 Grant of Restricted Stock or Restricted Stock Units. Subject to the terms and provisions of this Plan, the Board, at any time and from time to time, may grant Shares of Restricted Stock and/or
Restricted Stock Units to Participants in such amounts as the Board shall determine. Restricted Stock Units shall be similar to Restricted Stock except that no Shares are actually awarded to the Participant on the date of grant. 
 8.2 Restricted Stock or Restricted Stock Unit Agreement. Each Restricted Stock and/or Restricted Stock Unit grant shall be evidenced
by an Award Agreement that shall specify the Period(s) of Restriction, if any, the number of Shares of Restricted Stock or the number of Restricted Stock Units granted, and such other provisions as the Board shall determine. 
  

 9 

 8.3 Other Restrictions. The Board shall impose such other conditions and/or restrictions, if
any, on any Shares of Restricted Stock or Restricted Stock Units granted pursuant to this Plan as it may deem advisable including, without limitation, a requirement that Participants pay a stipulated purchase price for each Share of Restricted Stock
or each Restricted Stock Unit, restrictions based upon the achievement of specific performance goals, time-based restrictions on vesting following the attainment of the performance goals, time-based restrictions, and/or restrictions under applicable
laws or under the requirements of any stock exchange or market upon which such Shares are listed or traded, or holding requirements or sale restrictions placed on the Shares by the Company upon vesting of such Restricted Stock or Restricted Stock
Units. 
 To the extent deemed appropriate by the Board, the Company may retain the certificates representing Shares of Restricted Stock in
the Company’s possession until such time as all conditions and/or restrictions applicable to such Shares have been satisfied or lapse. 
 Except as otherwise provided in this Article 8, Shares of Restricted Stock covered by each Restricted Stock Award shall become freely transferable by the Participant after all conditions and restrictions applicable to such Shares have been
satisfied or lapse (including satisfaction of any applicable tax withholding obligations), and Restricted Stock Units shall be paid in cash, Shares, or a combination of cash and Shares as the Board, in its sole discretion shall determine.

 8.4 Certificate Legend. In addition to any legends placed on certificates pursuant to Section 8.3, each
certificate representing Shares of Restricted Stock granted pursuant to this Plan may bear a legend such as the following or as otherwise determined by the Board in its sole discretion: 
 THE SALE OR TRANSFER OF SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE, WHETHER VOLUNTARY, INVOLUNTARY, OR BY OPERATION OF LAW, IS SUBJECT TO CERTAIN
RESTRICTIONS ON TRANSFER AS SET FORTH IN THE NPS PHARMACEUTICALS, INC. 2005 OMNIBUS INCENTIVE PLAN, AND IN THE ASSOCIATED AWARD AGREEMENT. A COPY OF THIS PLAN AND SUCH AWARD AGREEMENT MAY BE OBTAINED FROM NPS PHARMACEUTICALS, INC. 
 8.5 Voting Rights. Unless otherwise determined by the Board and set forth in a Participant’s Award Agreement, to the extent
permitted or required by law, as determined by the Board, Participants holding Shares of Restricted Stock granted hereunder may be granted the right to exercise full voting rights with respect to those Shares during the Period of Restriction. A
Participant shall have no voting rights with respect to any Restricted Stock Units granted hereunder. 
 8.6 Termination of
Employment. Each Award Agreement shall set forth the extent to which the Participant shall have the right to retain Restricted Stock and/or Restricted Stock Units following termination of the Participant’s employment with or
provision of services to the Company, its Affiliates, and/or its Subsidiaries, as the case may be. Such provisions shall be determined in the sole discretion of the Board, shall be included in the Award Agreement entered into with each Participant,
need not be uniform among all Shares of Restricted Stock or Restricted Stock Units issued pursuant to this Plan, and may reflect distinctions based on the reasons for termination. 
 8.7 Section 83(b) Election. The Board may provide in an Award Agreement that the Award of Restricted Stock is conditioned upon
the Participant making or refraining from making an election with respect to the Award under Code Section 83(b). If a Participant makes an election pursuant to Code Section 83(b) concerning a Restricted Stock Award, the Participant shall
be required to file promptly a copy of such election with the Company. 
 Article 9. Performance Units/Performance Shares 
 9.1 Grant of Performance Units/Performance Shares. Subject to the terms and provisions of this Plan, the Board, at any time and from
time to time, may grant Performance Units and/or Performance Shares to Participants in such amounts and upon such terms as the Board shall determine. 
  

 10 

 9.2 Value of Performance Units/Performance Shares. Each Performance Unit shall have an
initial value that is established by the Board at the time of grant. Each Performance Share shall have an initial value equal to the Fair Market Value of a Share on the date of grant. The Board shall set performance goals in its discretion which,
depending on the extent to which they are met, will determine the value and/or number of Performance Units/Performance Shares that will be paid out to the Participant. 
 9.3 Earning of Performance Units/Performance Shares. Subject to the terms of this Plan, after the applicable Performance Period has ended, the holder of Performance Units/Performance Shares shall be
entitled to receive payout on the value and number of Performance Units/Performance Shares earned by the Participant over the Performance Period, to be determined as a function of the extent to which the corresponding performance goals have
been achieved. 
 9.4 Form and Timing of Payment of Performance Units/Performance Shares. Payment of earned Performance
Units/Performance Shares shall be as determined by the Board and as evidenced in the Award Agreement. Subject to the terms of this Plan, the Board, in its sole discretion, may pay earned Performance Units/Performance Shares in the
form of cash or in Shares (or in a combination thereof) equal to the value of the earned Performance Units/Performance Shares at the close of the applicable Performance Period, or as soon as practicable after the end of the Performance Period. Any
Shares may be granted subject to any restrictions deemed appropriate by the Board. The determination of the Board with respect to the form of payout of such Awards shall be set forth in the Award Agreement pertaining to the grant of the Award.

 9.5 Termination of Employment. Each Award Agreement shall set forth the extent to which the Participant shall have the right
to retain Performance Units and/or Performance Shares following termination of the Participant’s employment with or provision of services to the Company, its Affiliates, and/or its Subsidiaries, as the case may be. Such provisions shall be
determined in the sole discretion of the Board, shall be included in the Award Agreement entered into with each Participant, need not be uniform among all Awards of Performance Units or Performance Shares issued pursuant to this Plan, and may
reflect distinctions based on the reasons for termination. 
 Article 10. Cash-Based Awards and Other Stock-Based Awards 
 10.1 Grant of Cash-Based Awards. Subject to the terms and provisions of the Plan, the Board, at any time and from time to time, may
grant Cash-Based Awards to Participants in such amounts and upon such terms as the Board may determine. 
 10.2 Other Stock-Based
Awards. The Board may grant other types of equity-based or equity-related Awards not otherwise described by the terms of this Plan (including the grant or offer for sale of unrestricted Shares) in such amounts and subject to such terms and
conditions, as the Board shall determine. Such Awards may involve the transfer of actual Shares to Participants, or payment in cash or otherwise of amounts based on the value of Shares and may include, without limitation, Awards designed to comply
with or take advantage of the applicable local laws of jurisdictions other than the United States. 
 10.3 Value of Cash-Based and Other
Stock-Based Awards. Each Cash-Based Award shall specify a payment amount or payment range as determined by the Board. Each Other Stock-Based Award shall be expressed in terms of Shares or units based on Shares, as determined by the Board.
The Board may establish performance goals in its discretion. If the Board exercises its discretion to establish performance goals, the number and/or value of Cash-Based Awards or Other Stock-Based Awards that will be paid out to the Participant will
depend on the extent to which the performance goals are met. 
 10.4 Payment of Cash-Based Awards and Other Stock-Based
Awards. Payment, if any, with respect to a Cash-Based Award or an Other Stock-Based Award shall be made in accordance with the terms of the Award, in cash or Shares as the Board determines. 
 10.5 Termination of Employment. The Board shall determine the extent to which the Participant shall have the right to receive Cash-Based
Awards or Other Stock-Based Awards following termination of the Participant’s employment with or provision of services to the Company, its Affiliates, and/or its Subsidiaries, as the 

  

 11 

 
case may be. Such provisions shall be determined in the sole discretion of the Board, such provisions may be included in an agreement entered into with each
Participant, but need not be uniform among all Awards of Cash-Based Awards or Other Stock-Based Awards issued pursuant to the Plan, and may reflect distinctions based on the reasons for termination. 
 Article 11. Transferability of Awards 
 11.1 Transferability. Except as provided in Section 11.2 below, during a Participant’s lifetime, his or her Awards shall be exercisable only by the Participant. Awards shall not be transferable other than by will or
the laws of descent and distribution; no Awards shall be subject, in whole or in part, to attachment, execution, or levy of any kind; and any purported transfer in violation hereof shall be null and void. The Board may establish such procedures as
it deems appropriate for a Participant to designate a beneficiary to whom any amounts payable or Shares deliverable in the event of, or following, the Participant’s death, may be provided. 
 11.2 Board Action. The Board may, in its discretion, determine that notwithstanding Section 11.1, any or all Awards (other than ISOs)
shall be transferable to and exercisable by such transferees, and subject to such terms and conditions, as the Board may deem appropriate; provided, however, no Award may be transferred for value (as defined in the General Instructions to Form S-8
under the Securities Act of 1933, as amended). 
 11.3 Domestic Relations Orders. Without limiting the generality of
Section 11.1, and notwithstanding Section 11.2, no domestic relations order purporting to authorize a transfer of an Award shall be recognized as valid. 
 Article 12. Performance Measures 
 12.1 Performance Measures. The performance goals upon
which the payment or vesting of an Award to a Covered Employee that is intended to qualify as Performance-Based Compensation shall be limited to the following Performance Measures: 
  

	 	(a)	net earnings or net income (before or after taxes); 

	 	(b)	earnings per share; 

	 	(c)	net sales or revenue growth; 

	 	(d)	net operating profit; 

	 	(e)	return measures (including, but not limited to, return on assets, capital, invested capital, equity, sales, or revenue); 

	 	(f)	cash flow (including, but not limited to, operating cash flow, free cash flow, cash flow return on equity, and cash flow return on investment); 

	 	(g)	earnings before or after taxes, interest, depreciation, and/or amortization; 

	 	(h)	gross or operating margins; 

	 	(i)	productivity ratios; 

	 	(j)	Share price (including, but not limited to, growth measures and total shareholder return); 

	 	(k)	expense targets; 

	 	(l)	margins; 

	 	(m)	operating efficiency; 

	 	(n)	market share; 

	 	(o)	customer satisfaction; 

	 	(p)	working capital targets; 

	 	(q)	economic value added or EVA® (net operating profit after tax minus the sum of capital multiplied by the cost of capital); and 

	 	(r)	product development. 

 Any Performance Measures may be
used to measure the performance of the Company, Subsidiary, and/or Affiliate as a whole or any business unit of the Company, Subsidiary, and/or Affiliate or any combination thereof, as the Board may deem appropriate, or any of the above Performance
Measures as compared to the performance of a group of comparator companies, or published or special index that the Board, in its sole discretion, deems appropriate, or the Company may select Performance Measure (j) above as compared to various
stock market indices. The Board also has the authority to provide for accelerated vesting of any Award based on the achievement of performance goals pursuant to the Performance Measures specified in this Article 12. 
  

 12 

 12.2 Evaluation of Performance. The Board may provide in any such Award that any evaluation
of performance may include or exclude any of the following events that occurs during a Performance Period: (a) asset write-downs, (b) litigation or claim judgments or settlements, (c) the effect of changes in tax laws, accounting
principles, or other laws or provisions affecting reported results, (d) any reorganization and restructuring programs, (e) extraordinary nonrecurring items as described in Accounting Principles Board Opinion No. 30 and/or in
management’s discussion and analysis of financial condition and results of operations appearing in the Company’s annual report to shareholders for the applicable year, (f) acquisitions or divestitures, and (g) foreign exchange
gains and losses. To the extent such inclusions or exclusions affect Awards to Covered Employees, they shall be prescribed in a form that meets the requirements of Code Section 162(m) for deductibility. 
 12.3 Adjustment of Performance-Based Compensation. Awards that are intended to qualify as Performance-Based Compensation may not be adjusted
upward. The Board shall retain the discretion to adjust such Awards downward, either on a formula or discretionary basis or any combination, as the Board determines. 
 12.4 Board Discretion. In the event that applicable tax and/or securities laws change to permit Board discretion to alter the governing Performance Measures without obtaining shareholder approval of such
changes, the Board shall have sole discretion to make such changes without obtaining shareholder approval. In addition, in the event that the Board determines that it is advisable to grant Awards that shall not qualify as Performance-Based
Compensation, the Board may make such grants without satisfying the requirements of Code Section 162(m) and base vesting on Performance Measures other than those set forth in Section 12.1. 
 Article 13. Dividend Equivalents 
 Any
Participant selected by the Board may be granted dividend equivalents based on the dividends declared on Shares that are subject to any Award, to be credited as of dividend payment dates, during the period between the date the Award is granted and
the date the Award is exercised, vests or expires, as determined by the Board. Such dividend equivalents shall be converted to cash or additional Shares by such formula and at such time and subject to such limitations as may be determined by the
Board. 
 Article 14. Beneficiary Designation 
 Each Participant under this Plan may, from time to time, name any beneficiary or beneficiaries (who may be named contingently or successively) to whom any benefit under this Plan is to be paid in case of his death
before he receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant, shall be in a form prescribed by the Board, and will be effective only when filed by the Participant in writing
with the Company during the Participant’s lifetime. In the absence of any such beneficiary designation, benefits remaining unpaid or rights remaining unexercised at the Participant’s death shall be paid or exercised by the
Participant’s executor, administrator, or legal representative. 
 Article 15. Rights of Participants 
 15.1 Employment. Nothing in this Plan or an Award Agreement shall interfere with or limit in any way the right of the Company, its
Affiliates, and/or its Subsidiaries, to terminate any Participant’s employment or service on the Board or to the Company at any time or for any reason not prohibited by law, nor confer upon any Participant any right to continue his employment
or service as a Director or Third Party Service Provider for any specified period of time. 
 Neither an Award nor any benefits arising under
this Plan shall constitute an employment contract with the Company, its Affiliates, and/or its Subsidiaries and, accordingly, subject to Articles 3 and 16, this Plan and the benefits hereunder may be terminated at any time in the sole and
exclusive discretion of the Board without giving rise to any liability on the part of the Company, its Affiliates, and/or its Subsidiaries. 
  

 13 

 15.2 Participation. No individual shall have the right to be selected to receive an
Award under this Plan, or, having been so selected, to be selected to receive a future Award. 
 15.3 Rights as a
Stockholder. Except as otherwise provided herein, a Participant shall have none of the rights of a stockholder with respect to Shares covered by any Award until the Participant becomes the record holder of such Shares. 
 Article 16. Amendment, Modification, Suspension, and Termination 
 16.1 Amendment, Modification, Suspension, and Termination. Subject to Section 16.3, the Board may, at any time and from time to time, alter, amend, modify, suspend, or terminate this Plan
and any Award Agreement in whole or in part; provided, however, that, without the prior approval of the Company’s stockholders and except as provided in Section 4.4, Options or SARs issued under this Plan will not be repriced,
replaced, or regranted through cancellation, or by lowering the Option Price of a previously granted Option or the Grant Price of a previously granted SAR, and no material amendment of this Plan shall be made without stockholder approval if
shareholder approval is required by law, regulation, or stock exchange rule. 
 16.2 Adjustment of Awards Upon the Occurrence of Certain
Unusual or Nonrecurring Events. The Board may make adjustments in the terms and conditions of, and the criteria included in, Awards in recognition of unusual or nonrecurring events (including, without limitation, the events described in
Section 4.4 hereof) affecting the Company or the financial statements of the Company or of changes in applicable laws, regulations, or accounting principles, whenever the Board determines that such adjustments are appropriate in order to
prevent unintended dilution or enlargement of the benefits or potential benefits intended to be made available under this Plan. The determination of the Board as to the foregoing adjustments, if any, shall be conclusive and binding on Participants
under this Plan. 
 16.3 Awards Previously Granted. Notwithstanding any other provision of this Plan to the contrary (other than
Section 16.4), no termination, amendment, suspension, or modification of this Plan or an Award Agreement shall adversely affect in any material way any Award previously granted under this Plan, without the written consent of the
Participant holding such Award. 
 16.4 Amendment to Conform to Law. Notwithstanding any other provision of this Plan to the
contrary, the Board of Directors may amend the Plan or an Award Agreement, to take effect retroactively or otherwise, as deemed necessary or advisable for the purpose of conforming the Plan or an Award Agreement to any present or future law relating
to plans of this or similar nature (including, but not limited to, Code Section 409A), and to the administrative regulations and rulings promulgated thereunder. 
 Article 17. Withholding 
 The Company shall have the power and the right to deduct or withhold, or
require a Participant to remit to the Company, the minimum statutory amount to satisfy federal, state, and local taxes, domestic or foreign, required by law or regulation to be withheld with respect to any taxable event arising as a result of this
Plan. 
 Article 18. Corporate Transactions 
 In the event of (a) a merger or consolidation in which the Company is not the surviving corporation; (b) a reverse merger in which the Company is the surviving corporation but the shares of the
Company’s common stock outstanding immediately preceding the merger are converted by virtue of the merger into other property, whether in the form of securities, cash, or otherwise; (c) a strategic corporate event, such as a merger or
acquisition, where the Company is technically the surviving entity, but where other elements of a change of control are present, i.e., change in management team or Board composition; (d) a transaction which the Board determines in its sole
discretion to constitute a change in control of the Company; or (e) any capital reorganization in which fifty percent (50%) of the Shares of the Company entitled to vote are exchanged, then, the time during which Awards outstanding under
the Plan become vested shall be accelerated and all outstanding Awards shall become immediately exercisable upon such event and such Awards shall continue to be exercisable until the later of (i) twenty-four (24) months from the 

  

 14 

 
effective date of such event, or (ii) the time specified in the Award Agreement during which the Award is exercisable following a Participant’s
termination of service; provided, however, that in no event shall the Award be exercisable after the expiration of its term. 
 Article
19. Successors 
 All obligations of the Company under this Plan with respect to Awards granted hereunder shall be binding on any
successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company. 
 Article 20. General Provisions 
 20.1
Forfeiture Events. 
  

	 	(a)	The Board may specify in an Award Agreement that the Participant’s rights, payments, and benefits with respect to an Award shall be subject to reduction, cancellation,
forfeiture, or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include, but shall not be limited to, termination of employment for
cause, termination of the Participant’s provision of services to the Company, Affiliate, and/or Subsidiary, violation of material Company, Affiliate, and/or Subsidiary policies, breach of noncompetition, confidentiality, or other restrictive
covenants that may apply to the Participant, or other conduct by the Participant that is detrimental to the business or reputation of the Company, its Affiliates, and/or its Subsidiaries. 

  

	 	(b)	If the Company is required to prepare an accounting restatement due to the material noncompliance of the Company, as a result of misconduct, with any financial reporting requirement
under the securities laws, if the Participant knowingly or grossly negligently engaged in the misconduct, or knowingly or grossly negligently failed to prevent the misconduct, or if the Participant is one of the individuals subject to automatic
forfeiture under Section 304 of the Sarbanes-Oxley Act of 2002, the Participant shall reimburse the Company the amount of any payment in settlement of an Award earned or accrued during the twelve (12) month period following the first
public issuance or filing with the United States Securities and Exchange Commission (whichever just occurred) of the financial document embodying such financial reporting requirement. 

 20.2 Legend. The certificates for Shares may include any legend which the Board deems appropriate to reflect any restrictions on transfer of
such Shares. 
 20.3 Gender and Number. Except where otherwise indicated by the context, any masculine term used herein also shall
include the feminine, the plural shall include the singular, and the singular shall include the plural. 
 20.4
Severability. In the event any provision of this Plan shall be held illegal or invalid for any reason, the illegality or invalidity shall not affect the remaining parts of this Plan, and this Plan shall be construed and enforced as
if the illegal or invalid provision had not been included. 
 20.5 Requirements of Law. The granting of Awards and the
issuance of Shares under this Plan shall be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 
 20.6 Delivery of Title. The Company shall have no obligation to issue or deliver evidence of title for Shares issued under this
Plan prior to: 
  

	 	(a)	obtaining any approvals from governmental agencies that the Company determines are necessary or advisable; and 

  

 15 

	 	(b)	completion of any registration or other qualification of the Shares under any applicable national or foreign law or ruling of any governmental body that the Company determines to be
necessary or advisable. 

 20.7 Inability to Obtain Authority. The inability of the Company to obtain
authority from any regulatory body having jurisdiction, which authority is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the
failure to issue or sell such Shares as to which such requisite authority shall not have been obtained. 
 20.8 Investment
Representations. The Board may require any individual receiving Shares pursuant to an Award under this Plan to represent and warrant in writing that the individual is acquiring the Shares for investment and without any present
intention to sell or distribute such Shares. 
 20.9 Employees Based Outside of the United States. Notwithstanding any provision
of this Plan to the contrary, in order to comply with the laws in other countries in which the Company, its Affiliates, and/or its Subsidiaries operate or have Employees, Directors, or Third Party Service Providers, the Board, in its sole
discretion, shall have the power and authority to: 
  

	 	(a)	determine which Affiliates and Subsidiaries shall be covered by this Plan; 

  

	 	(b)	determine which Employees and/or Directors or Third Party Service Providers outside the United States are eligible to participate in this Plan; 

  

	 	(c)	modify the terms and conditions of any Award granted to Employees, Directors or Third Party Service Providers outside the United States to comply with applicable foreign laws;

  

	 	(d)	establish subplans and modify exercise procedures and other terms and procedures, to the extent such actions may be necessary or advisable. Any subplans and modifications to Plan
terms and procedures established under this Section 20.9 by the Board shall be attached to this Plan document as appendices; and 

  

	 	(e)	take any action, before or after an Award is made, that it deems advisable to obtain approval or comply with any necessary local government regulatory exemptions or approvals.

 Notwithstanding the above, the Board may not take any actions hereunder, and no Awards shall be granted, that would violate
applicable law. 
 20.10 Uncertificated Shares. To the extent that this Plan provides for issuance of certificates to reflect the
transfer of Shares, the transfer of such Shares may be effected on a noncertificated basis, to the extent not prohibited by applicable law or the rules of any stock exchange. 
 20.11 Unfunded Plan. Participants shall have no right, title, or interest whatsoever in or to any investments that the Company, and/or
its Subsidiaries, and/or its Affiliates may make to aid it in meeting its obligations under this Plan. Nothing contained in this Plan, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind, or a
fiduciary relationship between the Company and any Participant, beneficiary, legal representative, or any other individual. To the extent that any person acquires a right to receive payments from the Company, its Subsidiaries, and/or its Affiliates
under this Plan, such right shall be no greater than the right of an unsecured general creditor of the Company, a Subsidiary, or an Affiliate, as the case may be. All payments to be made hereunder shall be paid from the general funds of the Company,
a Subsidiary, or an Affiliate, as the case may be and no special or separate fund shall be established and no segregation of assets shall be made to assure payment of such amounts except as expressly set forth in this Plan. 
  

 16 

 20.12 No Fractional Shares. No fractional Shares shall be issued or delivered pursuant
to this Plan or any Award. The Board shall determine whether cash, Awards, or other property shall be issued or paid in lieu of fractional Shares or whether such fractional Shares or any rights thereto shall be forfeited or otherwise eliminated.

 20.13 Retirement and Welfare Plans. Neither Awards made under this Plan nor Shares or cash paid pursuant to such
Awards, except pursuant to Covered Employee Annual Incentive Awards, may be included as “compensation” for purposes of computing the benefits payable to any Participant under the Company’s or any Subsidiary’s or Affiliate’s
retirement plans (both qualified and non-qualified) or welfare benefit plans unless such other plan expressly provides that such compensation shall be taken into account in computing a Participant’s benefit. 
 20.14 Deferred Compensation. No deferral of compensation (as defined under Code Section 409A or guidance thereto) is intended under this
Plan. Notwithstanding this intent, if any Award would be considered deferred compensation as defined under Code Section 409A and if the Plan fails to meet the requirements of Code Section 409A with respect to such Award, then such Award
shall be null and void. However, the Board may permit deferrals of compensation pursuant to the terms of a Participant’s Award Agreement, a separate plan or a subplan which meets the requirements of Code Section 409A and any related
guidance. Additionally, to the extent any Award is subject to Code Section 409A, notwithstanding any provision herein to the contrary, the Plan does not permit the acceleration of the time or schedule of any distribution related to such Award,
except as permitted by Code Section 409A, the regulations thereunder, and/or the Secretary of the United States Treasury. 
 20.15
Nonexclusivity of this Plan. The adoption of this Plan shall not be construed as creating any limitations on the power of the Board or Board to adopt such other compensation arrangements as it may deem desirable for any Participant.

 20.16 No Constraint on Corporate Action. Nothing in this Plan shall be construed to: (a) limit, impair, or otherwise
affect the Company’s or a Subsidiary’s or an Affiliate’s right or power to make adjustments, reclassifications, reorganizations, or changes of its capital or business structure, or to merge or consolidate, or dissolve, liquidate,
sell, or transfer all or any part of its business or assets; or (b) limit the right or power of the Company or a Subsidiary or an Affiliate to take any action which such entity deems to be necessary or appropriate. 
 20.17 Governing Law. The Plan and each Award Agreement shall be governed by the laws of the State of Delaware, excluding any conflicts or
choice of law rule or principle that might otherwise refer construction or interpretation of this Plan to the substantive law of another jurisdiction. Unless otherwise provided in the Award Agreement, recipients of an Award under this Plan are
deemed to submit to the exclusive jurisdiction and venue of the federal or state courts of Delaware, to resolve any and all issues that may arise out of or relate to this Plan or any related Award Agreement. 
  

 17 

 Exhibit B 
 to the 
 Employment Agreement 
 between 
 NPS Pharmaceuticals, Inc. 
 and 
 N. Anthony Coles, M.D.

 RESTRICTED STOCK UNIT AWARD AGREEMENT 

 

 
 RESTRICTED STOCK UNIT AGREEMENT 

under the 
 2005 OMNIBUS
INCENTIVE PLAN 
  

			
	Participant:	 	 N. Anthony Coles

	Number of RSUs Awarded:	 	 180,000

	Date of Grant:	 	 November 2, 2005

	Purpose for Award:	 	One-time make-up grant to compensate for lost annual retainer and repayment of a loan to former employer

 THIS RESTRICTED STOCK UNIT AGREEMENT, is made and is effective as of the above Date of Grant
between NPS Pharmaceuticals, Inc., a Delaware corporation (the “Company”), to the Participant named above, who is an employee of the Company. The Company hereby irrevocably grants to Participant the number of Restricted Stock Units
(“RSUs”) set forth above subject to the conditions provided herein and in the 2005 Omnibus Incentive Plan (the “Plan”). Unless otherwise specified, capitalized terms shall have the meanings specified in attached Terms and
Conditions and the Plan. 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, the parties hereto have agreed,
and do hereby agree to the terms and conditions of this Agreement. 
 IN WITNESS WHEREFORE, the Company has signed this Agreement to be
effective as of the Date of Grant shown above. 
  

							
	NPS PHARMACEUTICALS, INC.	 		 	
				
	 By:
	 	 /S/ VAL R. ANTCZAK
  
	 		 	 /S/ N. ANTHONY COLES
  

		 	 Val R. Antczak,
 Senior Vice President, General
Counsel and Secretary
	 		 	N. Anthony Coles

  

 1 

 TERMS AND CONDITIONS 
  

	1.	Conversion of Restricted Stock Units; Issuance of Common Stock. Upon vesting of the RSUs, the Company shall promptly cause to be issued in book-entry form, registered in
Participant’s name or in the name of Participant’s legal representatives, beneficiaries or heirs, as the case may be, Common Stock in payment of such vested whole restricted stock. 

  

	2.	Vesting. Subject to the terms and conditions of this Agreement, the RSUs will vest as follows: 

  

	 	(a)	45,000 on the second (2nd) anniversary of
the Date of Grant; 

  

	 	(b)	90,000 on the fourth (4th) year anniversary
of the Date of Grant; and 

  

	 	(c)	45,000 on the fifth (5th) year anniversary
of the Date of Grant. 

 provided that, except as provided in the Employment Agreement between Participant and the Company dated
October __, 2005 (“Employment Agreement”), vesting will cease upon the termination of your continuous status as an employee, director or consultant (“Continuous Service”). Vesting of the RSUs granted hereunder may be accelerated
on the occurrence of certain events set forth in the Employment Agreement. 
  

	3.	Termination of Continuous Service.

  

	 	(a)	If, prior to vesting of the RSUs, Participant terminates his/her Continuous Service, then all of the unvested RSUs shall be immediately and irrevocably forfeited.

  

	 	(b)	After the termination of Continuous Service due to death or permanent or total disability, then all unvested RSUs shall become immediately vested. 

  

	4.	Transferability. The RSUs and any rights under this Agreement are not transferable, except by will or by the laws of descent and distribution. Notwithstanding the
foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your death, shall thereafter be entitled to exercise your RSUs. 

  

	5.	No Employment Relationship. The RSU is not an employment or service contract, and nothing in this Agreement shall be deemed to create in any way whatsoever any
obligation on your part to continue in the employ of the Company or an affiliate, or of the Company or an affiliate to continue your employment. 

  

	6.	No Shareholder Rights. The RSU granted pursuant to this Agreement do not entitle the Participant to any rights of a stockholder of Common Stock. The rights of
Participant with respect to the RSUs shall remain forfeitable at all times prior to the date on which such RSUs become vested. 

  

	7.	Notices. Any notices provided for in this Agreement or the Plan shall be given in writing and shall be deemed effectively given upon receipt or, in the case of notices
delivered by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, address to you at the least address you provided to the Company. 

  

	8.	The Plan. This Agreement is subject to all the provisions of the Plan, the provisions of which are hereby made a part of your grant of RSUs, and is further subject to
all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted and those of the Plan, the provisions of the Plan shall control. 

  

 2 

 Exhibit C 
 to the 
 Employment Agreement 
 between 
 NPS Pharmaceuticals, Inc. 
 and 
 N. Anthony Coles, M.D.

 SAR AWARD AGREEMENT 

 

 
 STOCK APPRECIATION RIGHT AGREEMENT

 under the 
 2005
OMNIBUS INCENTIVE PLAN 
  

			
	Participant:	 	N. Anthony Coles
	Social Security Number:	 	________________________
	Total Number of Shares in this Grant:	 	150,000
	Date of Grant:	 	November 2, 2005
	Exercise Price Per Share:	 	$10.00
	First Exercise Date:	 	November 2, 2006
	Expiration Date:	 	November 2, 2015

 This Stock Appreciation Right Agreement (“Agreement”) is made and is effective as of the
above Date of Grant between NPS Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and the above-named Participant, an employee of the Company, or of one or more of its subsidiaries or other eligible person under the 2005
Omnibus Incentive Plan (the “Plan”). Pursuant to this Agreement, the Company has granted you the right to the appreciation on the number of shares of Common Stock, at the exercise price indicated above. Defined terms not explicitly defined
in this Agreement but defined in the Plan shall have the same definitions as in the Plan. 
 The details of your Stock Appreciation Rights
are set out in the attached Terms and Conditions. 
 IN WITNESS WHEREOF, the Company has signed this Stock Appreciation Right Agreement to be
effective as of the Date of Grant set forth above. 
  

					
	NPS PHARMACEUTICALS, INC.	  	
			
	 By:
	 	 /S/ VAL R. ANTCZAK
  
	  	 /S/ N. ANTHONY COLES
  

		 	 Val R. Antczak,
 Senior Vice President, General
Counsel and Secretary
	  	N. Anthony Coles

  

 1 

 TERMS AND CONDITIONS 
  

	1.	Settlement of Stock Appreciation Rights. Upon exercise of all or a specified portion of your Stock Appreciation Right, you (or such other person entitled to exercise the
Stock Appreciation Right pursuant to this Agreement and the Plan) shall be entitled to receive from the Company shares of Common Stock with an aggregate Fair Market Value on the date of exercise of the Stock Appreciation Right equal to the amount
determined by multiplying (a) the amount (if any) by which the Fair Market Value of a share of Common Stock on the date of exercise of the Stock Appreciation Right exceeds the exercise price per share of the Stock Appreciation Right, by
(b) the number of shares of Common Stock with respect to which the Stock Appreciation Right shall have been exercised. 

  

	2.	Vesting. Subject to the limitations contained herein, your Stock Appreciation Right will vest over four (4) years, with 28% becoming vested on the first year
anniversary of the Date of Grant, and 2% each month thereafter, provided that vesting will cease upon the termination of your continuous status as an employee, director or consultant (“Continuous Service”). 

 Except as provided in the Employment Agreement between Participant and the Company dated October __, 2005 (“Employment Agreement”), vesting will
cease upon the termination of your continuous status as an employee, director or consultant (“Continuous Service”). Vesting of the Stoack Appreciation Right granted hereunder may be accelerated on the occurrence of certain events set forth
in the Employment Agreement. 
  

	3.	Whole Shares. Your Stock Appreciation Right may only be exercised with respect to whole shares of Common Stock. 

  

	4.	Securities Law Compliance. Notwithstanding anything to the contrary contained herein, your Stock Appreciation Right may not be exercised unless the shares issuable upon
exercise of your Stock Appreciation Right are then registered under the Securities Act or, if such are not then so registered, the Company has determined that such exercise and issuance would be exempt from the registration requirements of the
Securities Act. The exercise of your Stock Appreciation Right must also comply with other applicable laws and regulations governing the Stock Appreciation Right and the Stock Appreciation Right may not be exercised if the Company determines that the
exercise would not be in material compliance with such laws and regulations. 

  

	5.	Term. The term of your Stock Appreciation Right commences on the Date of Grant and expires upon the earliest of the following: 

  

	 	(a)	the Expiration Date indicated above; 

  

	 	(b)	the tenth (10th ) anniversary of the Date of
Grant; 

  

	 	(c)	twelve (12) months after the termination of your Continuous Service due to permanent or total disability; 

  

	 	(d)	eighteen (18) months after your death if you die either during your Continuous Service or within three (3) months after your Continuous Service terminates for any reason;
or 

  

	 	(e)	ninety (90) days after the termination of your Continuous Service for any other reason, provided that if during any part of such ninety (90) day period the Stock
Appreciation Right is not exercisable solely because of the condition set forth in paragraph 4 above, the Stock Appreciation Right shall not expire until the earlier of the Expiration Date or until it shall have been exercisable for an aggregate
period of ninety (90) days after the termination of your Continuous Service. 

  

 2 

	6.	Exercise.

  

	 	(a)	You may exercise the vested portion of your Stock Appreciation Right during its term by delivering a Notice of Exercise (in the form designated by the Company) to the Secretary of
the Company, or to such other person as the Company may designate, during regular hours, together with such additional documents as the Company may then require. 

  

	 	(b)	By exercising your Stock Appreciation Right you agree that, as a condition to any exercise of your Stock Appreciation Right, the Company may require you to enter into one or more
arrangements providing for the payment by you to the Company of any tax withholding obligation of the Company arising by reason of (i) the exercise of your Stock Appreciation Right; (ii) the lapse of any substantial risk of forfeiture to
which the shares are subject at the time of exercise; or (iii) the disposition of shares acquired upon such exercise. 

  

	7.	Transferability. Your Stock Appreciation Right is not transferable, except by will or by the laws of descent and distribution, and is exercisable during your life only
by you. Notwithstanding the foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your death, shall thereafter be entitled to exercise your Stock
Appreciation Right. 

  

	8.	No Employment Relationship. Your Stock Appreciation Right is not an employment or service contract, and nothing in your Stock Appreciation Right shall be deemed to
create in any way whatsoever any obligation on your part to continue in the employ of the Company or an affiliate, or of the Company or an affiliate to continue your employment. 

  

	9.	Notices. Any notices provided for in your Stock Appreciation Right or the Plan shall be given in writing and shall be deemed effectively given upon receipt or, in the
case of notices delivered by the Company to you, five (5) days after deposit in the United States mail, postage prepaid, address to you at the least address you provided to the Company. 

  

	10.	The Plan. Your Stock Appreciation Right is subject to all the provisions of the Plan, the provisions of which are hereby made a part of your Stock Appreciation Right,
and is further subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted and those of the Plan, the provisions of the Plan shall control. 

  

 3 

 Exhibit D 
 to the 
 Employment Agreement 
 between 
 NPS Pharmaceuticals, Inc. 
 and 
 N. Anthony Coles, M.D.

 STOCK OPTION GRANT AGREEMENT 

 

 
 STOCK OPTION GRANT AGREEMENT 
 UNDER THE 
 2005 OMNIBUS INCENTIVE PLAN 
  

			
	Optionee:	 	N. Anthony Coles
	Social Security Number:	 	______________________
	Form of Option:	 	NQSO
	Total Number of Optioned Shares in this Grant:	 	150,000
	Date of Grant:	 	November 2, 2005
	Exercise Price Per Share:	 	$10.00
	First Exercise Date:	 	November 2, 2006
	Expiration Date:	 	November 2, 2015

 THIS OPTION AGREEMENT is made and is effective as of the above Date of Grant between NPS
Pharmaceuticals, Inc., a Delaware corporation (the “Company”), and the above-named Optionee, an employee of the Company, or of one or more of its subsidiaries or other eligible person under the 2005 Omnibus Incentive Plan (the
“Plan”). The Company desires, by affording the Optionee an opportunity to purchase the number of shares of its common stock par value $.001 per share (the “Common Stock”) shown above and as hereinafter provided (the
“Optioned Shares”), to carry out the purposes of the Plan. 
 NOW, THEREFORE, in consideration of the mutual covenants hereinafter
set forth, the parties hereto have agreed, and do hereby agree to the terms and conditions of this Option as set out in paragraphs 1 through 12 hereof. 
 IN WITNESS WHEREFORE, the Company has signed this Stock Option Grant to be effective as of the Date of Grant shown above. 
  

					
	NPS PHARMACEUTICALS, INC.	  	OPTIONEE:
			
	By:	 	 /S/ VAL R. ANTCZAK
  
	  	 /S/ N. ANTHONY COLES
  

		 	 Val R. Antczak,
 Senior Vice President,
General Counsel, and Secretary
	  	N. Anthony Coles

  

 1 

 TERMS AND CONDITIONS 
  

	1.	Grant of Option. The Company hereby irrevocably grants to the Optionee the right and option (the “Option”) to purchase the above number of Optioned Shares of the
Company’s Common Stock in the manner and subject to the conditions provided herein and in the Plan. 

  

	2.	Purchase Price and Payment. 

  

	 	2.1	The purchase price (the “Exercise Price”) shall be the amount per share of the Optioned Shares shown above, which is the fair market value of the Common Stock on the Date
of Grant as determined under the Plan. To the extent that the Optionee being granted this Option owns stock possessing more than ten percent of the total combined voting power of all classes of stock of the Company or its subsidiary corporations,
then the Exercise Price has been established by the Company to be equal to at least one hundred ten percent of said fair market value. 

  

	 	2.2.	Payment of the Exercise Price per Optioned Share shall be paid, to the extent permitted by applicable statutes and regulations, either (a) in cash, or (b) by delivery of
already-owned shares of Common Stock (which has been held by Optionee for at least six months), or a combination of cash and already-owned Common Stock, or (c) according to a deferred payment or other arrangement as agreed to between the
Optionee and the Company, or (d) pursuant to a broker assisted exercise same-day sales program, or (e) a combination of (a), (b), (c), and/or (d) above. With regard to delivery of shares of Common Stock under (b) above, such
shares of Common Stock (i) shall be valued for determination of the payment of the Exercise Price of such delivered shares of Common Stock at the shares’ fair market value on the Date of Exercise, and (ii) must be owned free and clear
of any liens, claims, encumbrances, or security interests on such date. 

  

	 	2.3	In the case of any deferred payment arrangement, interest shall be payable at least annually, and shall be charged at the minimum rate of interest necessary to avoid the treatment
as interest under any applicable provisions of the Code of any amounts other than amounts stated to be interest under the deferred payment arrangement. 

  

	 	2.4	Notwithstanding the foregoing, this Option may be exercised pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board, which results in the
receipt of cash (or check) by the Company prior to the issuance of any of the Optioned Shares. 

  

	3.	Vesting and Term of Option. The Optioned Shares shall be exercisable during the term of this Option Agreement but only on the terms hereof and pursuant to the following
exercise schedule: 

 Twenty-eight percent of the Optioned Shares shall vest at 5:00 p.m., Mountain Standard Time
(“MST”), on the first anniversary of the Date of Grant and two percent of the remaining Optioned Shares shall vest at 5:00 p.m. MST, on each monthly anniversary date thereafter, provided that the Optionee was, during the entire period
prior to such vesting date, continuously employed as an employee of the Company or otherwise affiliated in a position qualifying for continued vesting under the Plan. With respect to Canadian employees, Optionee’s status as an employee shall
terminate upon delivery of a notice of termination by the Company. 
 Except as provided in the Employment Agreement between Participant and
the Company dated October     , 2005 (“Employment Agreement”), vesting will cease upon the termination of your continuous status as an employee, director or consultant (“Continuous Service”). Vesting of
the Stoack Appreciation Right granted hereunder may be accelerated on the occurrence of certain events set forth in the Employment Agreement. 
 The term of the Option is from the Date of Grant through the Expiration Date shown above. Except to the extent that a different Expiration Date is shown above, any portion of the Optioned Shares, which become exercisable shall remain in
effect and be exercisable thereafter during the term of the Option. The Option shall not be exercisable after the Expiration Date. Not less than one hundred shares of the Optioned Shares may be purchased at any time unless the number purchased is
the total number at the time purchasable under the Option. Notwithstanding the above, as to any Option granted to a person owning more than ten percent of the Company’s voting stock on the Date of Grant, such Option shall expire five years from
the Date of Grant and said date shall be the Expiration Date. 

	4.	Termination of Employment or Relationship as a Director or Consultant. In the event an Optionee’s continual status as an employee, director, or consultant (other
than upon the Optionee’s death or disability) shall terminate prior to the Expiration Date, then this Option shall expire ninety days after the termination of the later of employment with the Company or such affiliation with the Company for any
reason, or for no reason, unless: 

  

	 	4.1	such termination of employment or affiliation is due to Optionee’s permanent or total disability (within the meaning of Section 422(c)(6) of the Code), in which event the
Option shall expire on the earlier of the Expiration Date set forth above, or twelve months following such termination of employment or affiliation; 

  

	 	4.2	such termination of employment or affiliation is due to Optionee’s death, in which event the Option shall expire on the earlier of the Expiration Date set forth above or
eighteen months after Optionee’s death; 

  

	 	4.3	exercise of the Option within ninety days after termination of employment or affiliation with the Company would result in liability of the Optionee under Section 16(b) of the
Securities Exchange Act of 1934 (arising, for example, from a non-exempt purchase), in which case the Option will expire on the earlier of (a) the Expiration Date set forth above, (b) the tenth day after the last day upon which exercise
would result in such liability, or (c) six months and ten days after the termination of Optionee’s employment or affiliation; or 

  

	 	4.4	such termination of employment or affiliation is due to a termination without Cause by the Company or a resignation for Good Reason by Optionee, in which event the Option shall
expire on the earlier of the Expiration Date set forth above, or twenty-four months following such termination of employment or affiliation. 

 This Option may be exercised following termination of employment or affiliation only as to that number of Optioned Shares as to which it was exercisable on the date of termination of employment or affiliation under
the provisions of this Option Agreement. 
  

	5.	Transferability. 

  

	 	5.1	Incentive Stock Option (“ISO”). In the case of an ISO, this Option is not transferable, except by will or by the laws of descent and distribution, and is
exercisable during Optionee’s life, only by the Optionee. In the event an Optionee transfers such Option, such transfer shall constitute a disqualifying event and the Option shall no longer qualify as an ISO but shall be considered a
Non-Qualified Stock Option under the terms of this Plan. 

  

	 	5.2	Non-Qualified Stock Option (“NQSO”). In the case of a NQSO, this Option is not transferable, except as follows: 

  

	 	5.2.1	By will or by the laws of descent and distribution or pursuant to a qualified domestic relations order as defined by the Code or Title I of the Employee Retirement Income Security
Act, or the rules thereunder (a “QDRO”), and shall be exercisable during the lifetime Optionee only by such Optionee or any transferee pursuant to a QDRO; and 

  

	 	5.2.2	Transfers to the spouse, children, or grandchildren of the Optionee (“Immediate Family Members”), a trust or trusts for the exclusive benefit of such Immediate Family
Members, or a partnership in which such Immediate Family Members are the only partners, provided that (a) there may be no consideration for any such transfer, (b) subsequent transfers of transferred options shall be prohibited except those
occurring by will or the laws of descent and distribution, and (c) the Option shall continue to be subject to all the terms and conditions that applied prior to transfer. The Options shall be exercisable by the transferee only to the extent and
for the periods specified in this Option Agreement or the Plan. The Company expressly disclaims any obligation to provide notice to a transferee of the expiration of the Option. 

	 	5.3	Non-Qualifying Transfer. In the event of the transfer of the Optioned Shares obtained by exercise of an ISO in such manner as to disqualify the Optioned Shares for ISO
treatment, the provisions of this Grant and the Plan applicable to NQSOs shall be deemed to apply to the Optioned Shares as if the Grant had been an NQSO. 

  

	6.	No Employment Relationship. This Option is not an employment contract and nothing in this Option Agreement shall be deemed to create in any way whatsoever any obligation on
Optionee’s part to continue in the employ of the Company or as an affiliate of the Company, or of the Company to continue Optionee’s employment or affiliation with the Company. In the event that this Option is granted in connection with
the performance of services as a consultant or director, references to employment, employee, and similar terms shall be deemed to include the performance of services as a consultant or a director, as the case may be, provided however, that no rights
as an employee shall arise by reason of the use of such terms. 

  

	7.	Rights of Stockholder. No rights as a stockholder are created or conferred hereby until the date of issue of a stock certificate for the shares of the Optioned Shares covered
by a valid exercise of this Option. 

  

	8.	Restriction on Transfer. A purchaser of shares of Common Stock who purchases such Optioned Shares by exercise of this Option may not dispose of such Optioned Shares within
two years from the Date of Grant or within one year after the date of exercise without losing the purchaser’s right to treat such Optioned Shares as an ISO. Other contractual or legal restrictions may also apply to ISOs.

  

	9.	Method of Exercising Option. 

  

	 	9.1	Subject to the terms and conditions of this Option Agreement, the Option may be exercised by written notice (in a form designated by the Company) to the Company at its principal
office. Such notice shall state the election to exercise the Option and the number of Optioned Shares in respect of which it is being exercised, and shall be signed by the person or persons so exercising the Option. If the option being exercised was
granted partially as ISOs as to certain shares and as NQSOs as to the balance of the shares, the Company will assume that the shares being exercised are pro-rata ISO and NQSO unless specifically otherwise directed or elected by the Optionee. Such
notice shall either: 

  

	 	9.1.1	be accompanied by payment of the full Exercise Price of such Optioned Shares, in which event the Company shall deliver a certificate promptly after the notice shall be received; or

  

	 	9.1.2	fix a date (not less than five nor more than ten business days from the date such notice is received by the Company unless a longer date or different arrangement has been
established under paragraph 2 hereof) for the payment of the full Exercise Price of such Optioned Shares, against delivery of a certificate or certificates representing such Optioned Shares. 

  

	 	9.1.3	By exercising this Option, Optionee agrees that the Company may require Optionee to enter into an arrangement providing for the cash payment by Optionee to the Company of any tax
withholding obligations of the Company arising by reason of: (a) the exercise of this Option; (b) the lapse of any substantial risk of forfeiture to which the Optioned Shares are subject at the time of exercise; or (c) the disposition
of Optioned Shares acquired upon such exercise. 

  

	10.	The Plan. The terms of the Plan are incorporated herein and made a part hereof. In the event of inconsistency between the terms of the Plan (as in effect on the Date of
Grant) and the terms hereof, the terms of the Plan shall control. The Plan contains many terms, which may affect this Option Agreement, which are not repeated herein. 

  

	11.	Severability. It is the intent of all parties to this Option Agreement that ISOs granted under the terms of this Option Agreement shall qualify for treatment as ISOs under
Section 422 of the Internal Revenue Code of 1954, as amended. To that end, should any provisions of this Option Agreement be determined to invalidate such ISO treatment or characterization, such provisions shall be severable from, and shall not
affect the remaining provisions of this Option Agreement. 

  

	12.	Plan Acknowledgment. Optionee acknowledges receipt of a copy of the Plan, and represents that he or she is familiar with the terms and provisions thereof, and hereby accepts
this Option subject to all the terms and provisions thereof. Optionee hereby agrees to accept as binding and final all decisions of interpretation of the Board of Directors upon any questions arising under the Plan. 

 Exhibit E 
 to the 
 Employment Agreement 
 between 
 NPS Pharmaceuticals, Inc. 
 and 
 N. Anthony Coles, M.D.

 EMPLOYEE AGREEMENT CONCERNING 
 INVENTION ASSIGNMENT, NON-DISCLOSURE 
 AND NON-COMPETITION 

 EMPLOYEE AGREEMENT CONCERNING 
 INVENTION ASSIGNMENT, NON-DISCLOSURE 
 AND NON-COMPETITION 
 Employee: N. Anthony Coles, M.D. 
 In consideration of employment or continued employment by NPS
Pharmaceuticals, Inc. (which together with its affiliates and subsidiaries, if any, are hereinafter referred to as the “Company”), the compensation paid by the Company from time to time and other good and valuable consideration, Employee
hereby represents to and agrees with the Company as follows: 
  

	1.	Scope of Company’s Business Interests. 

 Employee understands that the Company is engaged in a continuous program of research, development, production, and marketing with respect to the discovery and development of novel pharmaceutical therapies for a variety of diseases.

  

	2.	Definitions. 

  

	 	2.1	“Confidential Information” shall mean: 

  

	 	2.1.1	any and all Intellectual Property or information whether business, financial, technical or otherwise, of any type whatsoever, in any form whatsoever, which is (a) proprietary
to the Company; or (b) submitted or disclosed to the Company by a third party. 

  

	 	2.1.2	Confidential Information (whether or not reduced to writing and in any and all stages of development) includes but is not limited to: discoveries, ideas, inventions, designs,
formulas, test results, test procedures, protocols, concepts, drawings, specifications, techniques, models, data, software, research, processes, procedures, works of authorship, formulas, improvements, trade secrets, know-how, marketing plans and
supplies, product plans, customer names (and other information relating to customers), supplier names (and other information relating to suppliers), and financial information. 

  

	 	2.1.3	Confidential Information shall not include anything that is publicly known or generally employed by the trade at or after the effective date of this Agreement.

  

	 	2.2	“Intellectual Property” shall mean, without limitation, all copyrights, patents, trademarks, service marks, trade secrets, know-how and other rights commonly referred to
as “moral rights” and all intellectual property rights of any type whatsoever. 

  

	3.	Assignment of Rights in Intellectual Property. 

  

	 	3.1	Employee hereby assigns to the Company all of Employee’s rights in all discoveries, inventions and other technology, all works of authorship, all data and information, and all
Intellectual Property rights therein and thereto, which are made, discovered, developed, assembled, created, or conceived, in whole or in part, previously or hereafter by Employee: (a) during the course of and within the scope of employment
with the Company; or (b) with the aid of Confidential Information or the facilities, resources or property of the Company. 

  

	 	3.2	All of said Intellectual Property assigned to the Company shall be Confidential Information except for anything that is publicly known or generally employed by the trade, without
the fault of Employee, at or after the effective date of this Agreement. 

  

	 	3.3	Employee agrees to disclose promptly and fully to the Company anything which qualifies as Confidential Information hereunder. 

  

 1 

	4.	Confidential Information. 

  

	 	4.1	Employee understands that Confidential Information is confidential and secret and agrees to respect the confidentiality and secrecy of the same. Employee also understands that all
Confidential Information is the property of the Company or of a third party submitting the same to the Company. Employee agrees to treat Confidential Information submitted to the Company by third parties as if confidential and proprietary to the
Company. 

  

	 	4.2	Except as lawfully authorized or as may be required in the performance of Employee’s responsibilities for the Company, Employee: 

  

	 	4.2.1	agrees not to directly or indirectly disclose, reveal, report, publish, or transfer possession of, or access to, any Confidential Information to any person or entity;

  

	 	4.2.2	agrees, at the expense of the Company, promptly at all times hereafter to execute and deliver any and all acts and instruments as may be necessary or desirable to perfect and
protect the Company’s interest in the Confidential Information; and 

  

	 	4.2.3	agrees not to directly or indirectly use the Confidential Information except for the benefit of the Company in the performance of Employee’s responsibilities for the Company.

  

	5.	Trust Relationship. 

 Employee understands that
employment with the Company creates a relationship of confidence and trust between the Employee and the Company with respect to the Employee’s care, use, and treatment of Intellectual Property and Confidential Information of the Company.

  

	6.	Delivery to the Company. 

 Employee agrees to turn
over any and all Confidential Information in Employee’s possession or control upon request of the Company and upon termination of employment with the Company. Employee understands and agrees that Employee’s obligations under this Agreement
survive the termination of Employee’s employment with the Company. 
  

	7.	No Contract of Employment. 

  

	 	7.1	Nothing herein is intended to constitute a contract of employment or alter or change the terms of Employee’s understanding with the Company concerning terms and duration of
employment. 

  

	 	7.2	This Agreement is not an employment agreement and does not give the Employee the right to be employed by the Company in any capacity. The Company reserves the right to terminate
Employee’s employment at any time for any reason. 

  

	8.	Non-Competition. 

  

	 	8.1	The Employee and the Company agree that the Company’s activities, including its interests in Confidential Information and Intellectual Property, are of a proprietary, unique
and special nature and that if Employee’s services were used in competition with the Company, such use could cause serious and possibly irreparable harm to the Company. Accordingly, Employee agrees to the commitments of non-competitive
activities as described herein. 

  

	 	8.1.1	Employee agrees that during the period of employment with the Company, Employee shall not directly or indirectly engage in any employment or activity (other than for the Company)
which competes with the business of the Company as now or hereinafter conducted. 

  

 2 

	 	8.1.2	Employee agrees that during the period of employment with the Company, and for a period of twenty four (24) months thereafter, Employee shall not directly or indirectly
(a) compete with the business of the company by calling on, soliciting, taking away, or attempting to take away for the benefit of Employee or of any other person or entity, any customer, supplier, or client of the Company with whom Employee
became acquainted during employment with the Company, or (b) solicit, take away, or attempt to take away, for the benefit of the Employee or of any other person or entity, any employee or officer of the Company. 

  

	 	8.1.3	Employee agrees that upon termination of employment with the Company, Employee shall not use or disclose material Confidential Information of the Company. 

 

	9.	No Use of Other’s Intellectual Property. 

 Employee represents to the Company that Employee has not brought and has not used, and agrees that it will not bring to the Company and will not use in the performance of any responsibilities for the Company, any information, materials or
the like which are confidential and are proprietary to a former employer or to some other person or entity without written authorization from said former employer, person or entity. 
  

	10.	Injunctive Relief. 

 Employee agrees that, because
of the unique nature of this Agreement and the obligations of Employee regarding non-disclosure, non-use and assignment of inventions and Intellectual Property, monetary damages alone will be an inadequate remedy for Employee’s breach of such
obligations. As a result, Employee agrees that the Company shall be entitled to obtain injunctive and other equitable relief to protect the confidential nature of its Confidential Information and its interest in such inventions and Intellectual
Property, in addition to all other remedies which may be available at law or otherwise. 
  

	11.	Miscellaneous. 

  

	 	11.1	If any provision of this Agreement is determined by a court of competent jurisdiction to be invalid or unenforceable, the same shall be deemed severed from the remainder of this
Agreement and shall not cause the invalidity or unenforceability of the remainder of this Agreement. 

  

	 	11.2	This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors, beneficiaries or legatees. 

  

	 	11.3	This Agreement shall be governed by the laws of the State of Utah without reference to the conflicts of law principles thereof. 

  

	 	11.4	This Agreement constitutes the final, complete, and exclusive agreement between the Company and Employee concerning the subject matter of this Agreement and supersedes all prior
representations, agreements, understandings, negotiations and discussions, written or oral, between the Company and Employee with respect thereto. In the event Employee and the Company have previously entered into an agreement concerning the subject
matter hereof, this Agreement is considered a novation of that agreement. Employee agrees that all Confidential Information received by Employee prior to the “Date of Hire” shown below is governed hereby and is deemed received pursuant to
the terms hereof. Any inventions excluded by Employee thereunder are also deemed excluded hereunder unless stated otherwise in Exhibit A hereof. Any modification, recision or amendment of this Agreement shall not be effective unless made in writing
and executed by both parties. 

  

	 	11.5	Employee has identified in the space below all inventions, ideas, biological compounds, cell lines, and other items of Intellectual Property of interest to the Company as described
herein, and other items of Intellectual Property which have been made or conceived or first reduced to practice by Employee, alone or jointly with others, PRIOR to employment with the Company AND which Employee desires to exclude from the operation
of this Agreement. Employee claims an interest in the following PRIOR items of Intellectual Property: 

  
  

	
	 
	  

  

 3 

	 	  	If no inventions, ideas, discoveries or other items of Intellectual Property are identified in the space above, then Employee represents that there are no such inventions, ideas,
discoveries or other items of Intellectual Property. 

  

	 	11.6	Employee agrees that adequate consideration to the Employee from the Company can be found in each of the following: 

  

	 	11.6.1	continued employment with the Company; 

  

	 	11.6.2	compensation paid to the Employee by the Company from time to time; and 

  

	 	11.6.3	capital stock of the Company sold or granted to the Employee from time to time. 

  

	 	11.7	Employee acknowledges that his or her employment with the Company was expressly conditioned upon an understanding that an agreement covering the subject hereof was a condition of
employment and that this Agreement is the intended agreement and that if signed after the Date of Hire the Agreement is intended to relate back to the Employee’s Date of Hire and to be part of the terms of initial employment.

  

					
	 READ, UNDERSTOOD AND ACCEPTED:
	 	COMPANY:
		
		 	NPS PHARMACEUTICALS, INC.
			
	 /S/ N. ANTHONY COLES
  
  
	 	 By:
	 	 /S/ VAL R. ANTCZAK
  

	N. Anthony Coles, M.D.	 		 	 Val R. Antczak,
 Senior Vice President,
General Counsel, and Secretary

		
	Dated: October 31, 2005	 	 Dated: October 21, 2005

			
	Date of Hire    November 2, 2005	 		 	

  

 4 

 Exhibit F 
 to the 
 Employment Agreement 
 between 
 NPS Pharmaceuticals, Inc. 
 and 
 N. Anthony Coles, M.D.

 INDEMNITY AGREEMENT 

 INDEMNITY AGREEMENT 
 THIS AGREEMENT, effective the 2nd day of November 2005 by and between NPS
Pharmaceuticals, Inc., a Delaware corporation (the “Corporation”), and N. Anthony Coles, M.D., the undersigned agent of the Corporation (“Agent”). 
 RECITALS 
 WHEREAS, Agent performs a valuable service to the Corporation in the capacity as an
officer of the Corporation; 
 WHEREAS, the stockholders of the Corporation have adopted bylaws (the “Bylaws”) providing for the
indemnification of the directors, officers, employees, and other agents of the Corporation, including persons serving at the request of the Corporation in such capacities with other corporations or enterprises, as authorized by the Delaware General
Corporation Law, as amended (the “Code”); 
 WHEREAS, the Bylaws and the Code, by their non-exclusive nature, permit contracts
between the Corporation and its agents, officers, employees, and other agents with respect to indemnification of such persons; and 
 WHEREAS, in order to induce Agent to continue to serve as an officer of the Corporation, the Corporation has determined and agreed to enter into this Agreement with Agent; 
 NOW, THEREFORE, in consideration of Agent’s continued service as an officer after the date hereof, the parties hereto agree as follows: 

 

	1.	Services to the Corporation. With duties beginning as of the above date, Agent will serve, at the will of the Corporation or under separate contract, if any such contract
exists, as an officer of the Corporation or as a director, officer or other fiduciary of an affiliate of the Corporation (including any employee benefit plan of the Corporation) faithfully and to the best of Agent’s ability so long as Agent is
duly elected and qualified or appointed in accordance with the provisions of the Bylaws or other applicable charter documents of the Corporation or such affiliate; provided, however, that Agent may at any time and for any reason resign from such
position (subject to any contractual obligation that Agent may have assumed apart from this Agreement) and that the Corporation or any affiliate shall have no obligation under this Agreement to continue Agent in any such position.

  

	2.	Indemnity of Agent. The Corporation hereby agrees to hold harmless and indemnify Agent to the fullest extent authorized or permitted by the provisions of the Bylaws, the
Code, and applicable law as the same may be amended from time to time (but, only to the extent that such amendment permits the Corporation to provide broader indemnification rights than the Bylaws, the Code, or applicable law permitted prior to
adoption of such amendment). 

  

	3.	Additional Indemnity. In addition to and not in limitation of the indemnification otherwise provided for herein, and subject only to the exclusions set forth in
Section 4 hereof, the Corporation hereby further agrees to hold harmless and indemnify Agent: 

  

	 	3.1	against any and all expenses (including attorneys’ fees), witness fees, damages, judgments, fines, amounts paid in settlement, and any other amounts that Agent becomes legally
obligated to pay because of any claim or claims made against or by Agent in connection with any threatened, pending or completed action, suit or proceeding, whether civil, criminal, arbitrational, administrative, or investigative (including an
action by or in the right of the Corporation) to which Agent is, was or at any time becomes a party, or is threatened to be made a party, by reason of the fact that Agent is, was or at any time becomes a director, officer, employee or other agent of
Corporation, or is or was serving or at any time serves at the request of the Corporation as a director, officer, employee or other agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise; and

  

	 	3.2	otherwise to the fullest extent as may be provided to Agent by the Corporation under the non-exclusivity provisions of the Code and Section 11.5 of the Bylaws.

  

 1 

	4.	Limitations on Additional Indemnity. No indemnity shall be paid by the Corporation under this agreement: 

  

	 	4.1	on account of any claim against Agent for an accounting of profits made from the purchase or sale by Agent of securities of the Corporation pursuant to the provisions of
Section 16(b) of the Securities Exchange Act of 1934 and amendments thereto or similar provisions of any federal, state or local statutory law; 

  

	 	4.2	on account of Agent’s conduct that was knowingly fraudulent or deliberately dishonest or that constituted willful misconduct; 

  

	 	4.3	on account of Agent’s conduct that constituted a breach of Agent’s duty of loyalty to the Corporation or resulted in any personal profit or advantage to which Agent was
not legally entitled; 

  

	 	4.4	for which payment is actually made to Agent under a valid and collectible insurance policy or under a valid and enforceable indemnity clause, bylaw or agreement, except in respect
of any excess beyond payment under such insurance, clause, bylaw or agreement; 

  

	 	4.5	if indemnification is not lawful (and, in this respect, both the Corporation and Agent have been advised that the Securities and Exchange Commission believes that indemnification
for liabilities arising under the federal securities laws is against public policy and is, therefore, unenforceable and that claims for indemnification should be submitted to appropriate courts for adjudication); or 

  

	 	4.6	in connection with any proceeding (or part thereof) initiated by Agent, or any proceeding by Agent against the Corporation or its directors, officers, employees or other agents,
unless (i) such indemnification is expressly required to be made by law, (ii) the proceeding was authorized by the Board of Directors of the Corporation, (iii) such indemnification is provided by the Corporation, in its sole
discretion, pursuant to the powers vested in the Corporation under the Code, or (iv) the proceeding is initiated pursuant to Section 9 hereof. 

  

	5.	Continuation of Indemnity. All agreements and obligations of the Corporation contained herein shall continue during the period Agent is a director, officer, employee or other
agent of the Corporation (or is or was serving at the request of the Corporation as a director, officer, employee or other agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise) and shall continue
thereafter so long as Agent shall be subject to any possible claim or threatened, pending or completed action, suit or proceeding, whether civil, criminal, arbitrational, administrative or investigative, by reason of the fact that Agent was serving
in the capacity referred to herein. 

  

	6.	Partial Indemnification. Agent shall be entitled under this Agreement to indemnification by the Corporation for a portion of the expenses (including attorneys’ fees),
witness fees, damages, judgments, fines and amounts paid in settlement, and any other amounts that Agent becomes legally obligated to pay in connection with any action, suit or proceeding referred to in Section 3 hereof even if not entitled
hereunder to indemnification for the total amount thereof, and the Corporation shall indemnify Agent for the portion thereof to which Agent is entitled. 

  

	7.	Notification and Defense of Claim. Not later than thirty (30) days after receipt by Agent of notice of the commencement of any action, suit or proceeding, Agent will, if
a claim in respect thereof is to be made against the Corporation under this Agreement, notify the Corporation or confirm that the Corporation has notice of the commencement thereof; but the omission so to notify or so to confirm notice to the
Corporation will not relieve it from any liability which it may have to Agent otherwise than under this Agreement. With respect to any such action, suit or proceeding as to which Agent notifies the Corporation of the commencement thereof or confirms
that the Corporation has such notice: 

  

	 	7.1	the Corporation will be entitled to participate therein at its own expense; 

  

 2 

	 	7.2	except as otherwise provided below, the Corporation may, at its option and jointly with any other indemnifying party similarly notified and electing to assume such defense, assume
the defense thereof, with counsel reasonably satisfactory to Agent. After notice from the Corporation to Agent of its election to assume the defense thereof, the Corporation will not be liable to Agent under this Agreement for any legal or other
expenses subsequently incurred by Agent in connection with the defense thereof except for reasonable costs of investigation or otherwise as provided below. Agent shall have the right to employ separate counsel in such action, suit or proceeding but
the fees and expenses of such counsel incurred after notice from the Corporation of its assumption of the defense thereof shall be at the expense of Agent unless (i) the employment of counsel by Agent has been authorized by the Corporation,
(ii) Agent shall have reasonably concluded that there may be a conflict of interest between the Corporation (or any other agent or agents for whom the Corporation has assumed or may assume the defense) and Agent in the conduct of the defense of
such action; or (iii) the Corporation shall not in fact have employed counsel to assume the defense of such action, in each of which cases the fees and expenses of Agent’s separate counsel shall be at the expense of the Corporation. The
Corporation shall not be entitled to assume the defense of any action, suit or proceeding brought by or on behalf of the Corporation or as to which Agent shall have made the conclusion provided for in clause (ii) above; and

  

	 	7.3	the Corporation shall not be liable to indemnify Agent under this Agreement for any amounts paid in settlement of any action or claim effected without its written consent, which
shall not be unreasonably withheld. The Corporation shall be permitted to settle any action except that it shall not settle any action or claim in any manner that would impose any penalty or limitation on Agent without Agent’s written consent,
which may be given or withheld in Agent’s sole discretion. 

  

	8.	Expenses. Promptly following request for advancement of expenses and upon receipt of an undertaking by or on behalf of Agent to repay said amounts on the terms hereof, the
Corporation shall advance, prior to the final disposition of any proceeding, all expenses actually and reasonably incurred by Agent in connection with such proceeding, prior to the date (if at all) when the Corporation has determined that Agent has
acted in bad faith or in a manner that Agent did not believe to be in or not opposed to the best interests of the Corporation, that Agent is not entitled to indemnification due to exclusion under Section 4 hereof or, with respect to any
criminal action or proceeding that Agent acted without reasonable cause to believe that Agent’s conduct was lawful. Such determination may be made by the Corporation upon a finding that the facts known to the decision-making party at the time
such determination is made, clearly and convincingly support such a determination. Such determination may be made by the Corporation (i) as to an officer by a vote of all disinterested directors provided such directors constitute a quorum of
the Board of Directors; or (ii) if such a quorum is not obtainable, or even if obtainable, upon direction of a majority of the disinterested directors as to an officer or director by independent legal counsel (selected by said majority, or
other representation of the Corporation, from a panel of five alternates approved for this purpose by the National Association of Corporate Directors) in a written opinion. This provision is adopted under and is to be interpreted consistent with
Delaware Code 145(f) and Bylaw 11.5. 

  

	9.	Enforcement. 

  

	 	9.1	 Any right to indemnification or advances granted by this Agreement to Agent shall be enforceable by or on behalf of Agent in any court of competent jurisdiction if
(i) the claim for indemnification or advances is denied, in whole or in part, or (ii) no disposition of such claim is made within ninety (90) days of request therefor. Agent, in such enforcement action, if successful in whole or in
part, shall be entitled to be paid also the expense of prosecuting Agent’s claim. It shall be a defense to any action for which a claim for indemnification is made under Section 3 hereof (other than an action brought to enforce a claim for
expenses pursuant to Section 8 hereof, provided that the required undertaking has been tendered to the Corporation) that Agent is not entitled to indemnification because of the limitations set forth in Section 4 hereof. Neither the failure
of the Corporation (including its Board of Directors or its stockholders) to have made a determination prior to the commencement of such enforcement action that indemnification of Agent is proper in 

  

 3 

 
the circumstances, nor an actual determination by the Corporation (including its Board of Directors or its stockholders) that such indemnification is
improper shall be a defense to the action or create a presumption that Agent is not entitled to indemnification under this Agreement or otherwise. 
  

	 	9.2	Any determination, election, or authorization (a “Determination”) permitted or required herein to be made by the Corporation when made by the Board of Directors, shall be
made in the manner set out in the following sentence when the Determination is (i) to authorize Agent to initiate a proceeding against the Corporation under paragraph 4(f) hereof; (ii) to participate in a proceeding under paragraph 7(a)
hereof; or (iii) to assume the defense under paragraph 7(b) hereof. A Determination made by the Board of Directors under the proceeding sentence shall require only a quorum of one-third of the exact number of directors of the Corporation fixed
from time to time in accordance with the Certificate of Incorporation if such Determination is to authorize Agent to bring an action under (i) above, to cause the Corporation to participate in a proceeding under (ii) above, and/or to
assume a defense of an action against Agent under (iii) above. 

  

	10.	Subrogation. In the event of payment under this Agreement, the Corporation shall be subrogated to the extent of such payment to all of the rights of recovery of Agent, who
shall execute all documents required and shall do all acts that may be necessary to secure such rights and to enable the Corporation effectively to bring suit to enforce such rights. 

  

	11.	Non-Exclusivity of Rights. The rights conferred on Agent by this Agreement shall not be exclusive of any other right which Agent may have or hereafter acquire under any
statute, provision of the Corporation’s Certificate of Incorporation or Bylaws, agreement, vote of stockholders or directors, applicable law or otherwise, both as to action in Agent’s official capacity and as to action in another capacity
while holding office. 

  

	12.	Survival of Rights. 

  

	 	12.1	The rights conferred on Agent by this Agreement shall continue after Agent has ceased to be a director, officer, employee or other agent of the Corporation or to serve at the
request of the Corporation as a director, officer, employee or other agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise and shall inure to the benefit of Agent’s heirs, executors and
administrators. 

  

	 	12.2	The Corporation shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of
the Corporation, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Corporation would be required to perform if no such succession had taken place. 

  

	13.	Separability. Each of the provisions of this Agreement is a separate and distinct agreement and independent of the others, so that if any provision hereof shall be held to be
invalid for any reason, such invalidity or unenforceability shall not affect the validity or enforceability of the other provisions hereof. Furthermore, if this Agreement shall be invalidated in its entirety on any ground, then the Corporation shall
nevertheless indemnify Agent to the fullest extent provided by the Bylaws, the Code or any other applicable law. 

  

	14.	Governing Law. This Agreement shall be interpreted and enforced in accordance with the laws of the State of Delaware. 

  

	15.	Amendment and Termination. No amendment, modification, termination or cancellation of this Agreement shall be effective unless in writing signed by both parties hereto.

  

	16.	Identical Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together
shall constitute but one and the same Agreement. Only one such counterpart need be produced to evidence the existence of this Agreement. 

  

 4 

	17.	Headings. The headings of the sections of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction hereof. 

  

	18.	Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given (i) upon delivery if delivered
by hand to the party to whom such communication was directed, or (ii) upon the third (3rd) business day
after the date on which such communication was mailed if mailed by certified or registered mail with postage prepaid: 

  

	 	18.1	If to Agent, to: 

  

	
	 ______________________________
  

	 ______________________________
  

	 ______________________________
  

	 	18.2	If to the Corporation, to: 

  

			
	 NPS Pharmaceuticals, Inc.

	 383 Colorow Drive

	 Salt Lake City, Utah 84108

	 Attention:
	  	General Counsel

  

	 	  	or to such other address as may have been furnished to Agent by the Corporation. 

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

					
	AGENT	 	NPS PHARMACEUTICALS, INC.
			
	 /S/ N. ANTHONY COLES
  
	 	By:	 	 /S/ VAL R. ANTCZAK
  

	 N. Anthony Coles, M.D.
	 		 	 Val R. Antczak,
 Senior Vice President, General
Counsel and Secretary

  

 5 

 Exhibit G 
 to the 
 Employment Agreement 
 between 
 NPS Pharmaceuticals, Inc. 
 and 
 N. Anthony Coles, M.D.

 CHANGE IN CONTROL SEVERANCE PAY PLAN 

 NPS PHARMACEUTICALS, INC. 
 CHANGE IN CONTROL SEVERANCE PAY PLAN 
 ADOPTED BY THE BOARD OF DIRECTORS

 FEBRUARY 10, 2005 
 1. Introduction. The purpose of the NPS Pharmaceuticals, Inc. Change in Control Severance Pay Plan (the “Plan”) is to provide severance benefits to eligible employees of NPS Pharmaceuticals, Inc. and its subsidiaries
(collectively “Company”) when there has been a “change in control” of the Company resulting in the eligible employee’s job prospects being “materially altered.” This Plan replaces any prior severance policy or
other policy or practice under which severance benefits have been provided to employees of the Company, except as provided in Section 13 herein. This document constitutes both the written instrument under which the Plan is maintained and the
summary plan description for the Plan. 
 2. Effective Date. The effective date of the Plan is January 1, 2005. 
 3. Term. The Plan shall be in effect until terminated by the Company. 
 4. ERISA. For Covered Employees in the United States, the Plan is intended to be, and shall be, administered and maintained as, a welfare benefit
plan under the Employee Retirement Income Security Act of 1974, as amended. 
 5. Employment Standards Act. For Covered
Employees in Canada, the Plan is intended to provide the severance benefits required under the Canadian Employment Standards Act, as amended from time to time (“Employment Standards Act”). To the extent that any provisions of the Plan
conflict with the Employment Standards Act, the Employment Standards Act shall govern Covered Employees in Canada. 
 6. Important Terms.
The following words and phases shall have the following respective meanings unless the context clearly indicates otherwise: 
 6.1
“Administrator” means the Company, acting through its Vice President, Human Resources, or such other person appointed by the Board. 
 6.2 “Base Pay” means the Covered Employee’s annual regular straight-time salary as in effect on the date of termination of employment. 
 6.3 “Board” means the Board of Directors of the Company. 
 6.4 “Cause” means (i) an act of material dishonesty by the Covered Employee in connection with the Covered Employee’s responsibilities as an employee, (ii) the Covered Employee’s
conviction of, or plea of nolo contendere to, a felony, (iii) the Covered Employee’s gross misconduct in connection with the Covered Employee’s responsibilities as an employee, (iv) the Covered Employee’s violation of the
Company’s written policies and procedures; or (v) the Covered Employee’s continued failure to perform his or her responsibilities as an employee after the Covered Employee has received a written demand for such performance.

 6.5 “Change in Control” means (i) a dissolution or liquidation or sale of all or substantially all of the assets of
the Company; (ii) a merger or consolidation in which the Company is not the surviving corporation; (iii) a reverse merger in which the Company is the surviving corporation but the shares of the Company’s common stock outstanding
immediately preceding the merger are converted by virtue of the merger into other property, whether in the form of securities, cash, or otherwise; (iv) a strategic corporate event, such as a merger or acquisition, where the Company is
technically the surviving entity, but which the Board determines in its sole discretion that other elements of a Change in Control are present, i.e., a substantial change in the management team or composition of the Board; (v) a transaction
which the Board determines in its sole discretion to constitute a Change in Control of the Company: or (vi) any other capital reorganization in which more than 50% of the shares of the Company entitled to vote are exchanged. A Change in Control
does not include the occurrence of an event described in (i), (ii), (iii) or (iv) where the sole parties to the event are NPS Pharmaceuticals, Inc. and one of its subsidiaries. 
  

 1 

 6.6 “Company” means NPS Pharmaceuticals, Inc., a Delaware corporation, and any of its
wholly owned subsidiaries and any successor by merger, acquisition, consolidation or otherwise that assumes the obligations of the Company under the Plan. 
 6.7 “Covered Employee” means a regular full-time employee of the Company who is paid at Grade 9 or above of the Company’s Compensation Structure for Executives and Non-Executives. 
 6.8 “Full-Time Employee” means those employees whose employment status is expected to last four consecutive months or longer working 80
percent or more of the normal possible annual working hours for that position. 
 6.9 “Determination Period” means the time
period, not to exceed twenty-four (24) months, beginning on the date of the Change in Control. 
 6.10 “Involuntary
Termination” means the Company’s termination of employment of the Covered Employee after a Change in Control other than for Cause. 
 6.11 “Materially Altered” means (i) a material reduction in the Covered Employee’s title, authority, status or responsibilities relative to the Covered Employee’s title, authority, status or responsibilities
in effect immediately prior to such reduction where such reduction was imposed without Cause, (ii) a reduction in the Covered Employee’s annualized Total Cash Compensation Target, without Covered Employee’s written consent, where such
reduction was imposed without Cause; (iii) relocation of the Covered Employee’s principal place of performing his or her duties as an employee of the Company by more than thirty (30) miles, without Covered Employee’s written
consent. 
 6.12 “Plan” means the NPS Pharmaceuticals, Inc. Change in Control Severance Pay Plan, as set forth in this
document, and as hereafter amended from time to time. 
 6.13 “Severance Benefit” means the compensation and other benefits
the Covered Employee will be provided pursuant to Section 8. 
 6.14 “Severance Period” means the time period, not to
exceed twenty-four months, beginning on the date of a Covered Employee’s termination of employment as a result of an Involuntary Termination or the Covered Employee’s job prospects being Materially Altered as a result of a Change in
Control. The Severance Period for each job classification is set forth on Exhibit A. 
 6.15 “Short Term Incentive” means
the target percentage of the Covered Employee’s Base Salary in the Short Term Incentive Plan as determined by the Company in effect on the date of termination of employment. It does not include the short term incentive earned but not paid prior
to the Covered Employee’s date of termination. 
 6.16 “Total Cash Compensation Target” means the Covered
Employee’s Annual Base Pay and target Short Term Incentive divided by twelve (12) months and multiplied by the number of months of the Covered Employee’s Severance Period. 
 7. Eligibility for Severance Benefit. An individual is eligible for the Severance Benefit under the Plan, in the amount set forth in
Section 8 and for the duration set forth in Exhibit A, only if he or she is a Covered Employee on the effective date of a Change in Control. 
 8. Severance Benefit. 
 8.1 Termination Following a Change in Control. Except as provided in Section 13, at any
time within the Determination Period for a Covered Employee following a Change in Control (i) the Covered Employee’s job prospects are Materially Altered, or (ii) the Covered Employee’s employment is Involuntarily Terminated,
other than for Cause or death or permanent disability, then the Covered Employee may exercise his or her rights under the Plan. To do so, the Covered Employee must provide the Company with written notice that he or she is exercising his or her right
to such Severance Benefit within ninety (90) days of the date that his or her job prospects are Materially Altered or the Covered Employee’s employment is Involuntarily Terminated. 
  

 2 

 Upon timely exercise of his or her rights under the Plan, the Covered Employee will receive the following
Severance Benefit from the Company: 
 8.1.1 Total Cash Compensation Target. Within 30 days of the execution of the Release as
required by Section 8.2 herein and the return of the Company’s property as required by Section 25 herein, the Covered Employee will be paid a lump sum single payment equal to his or her Total Cash Compensation Target. 
 8.1.2 Covered Employees in Canada. For Covered Employees in Canada, the amount of severance pay for a Covered Employee whose
severance pay is governed by the Employment Standards Act will be the greater of that determined under Section 8.1.1 or the amount required under the Employment Standards Act. 
 8.1.3 Continued Medical Benefits. If Covered Employee, and any spouse and/or dependents of Covered Employee (“Family Members”), has
medical and dental coverage on the date of Covered Employee’s termination of employment under a group health plan sponsored by the Company, the Company will reimburse Covered Employee for the total applicable premium cost for medical and dental
coverage under the Consolidated Omnibus Budget Reconciliation Act of 1986, 29 U.S.C. Sections 11611168; 26 U.S.C. Section 4980B(f), as amended, and all applicable regulations (referred to collectively as “COBRA”) for Covered Employee
and his Family Members during the full term of the Severance Period (to the extent COBRA coverage lasts for the full term); provided, that the Company shall have no obligation to reimburse Covered Employee for the premium cost of COBRA coverage
beginning on or after the date Covered Employee and his Family Members first become eligible to obtain comparable benefits from a subsequent employer. 
 8.1.4 Stock Option Accelerated Vesting and Extended Exercise Period. Provisions for acceleration of vesting upon a Change in Control as defined above are found in the Company’s Employee Stock Option Plans
in effect on February 19, 2003 and options previously granted thereunder and then outstanding. Those Stock Option Plans and Options also provide for an extended time for exercise of such Options upon an Involuntary Termination initiated by the
Covered Employee or a termination initiated by the Company in either case upon a Change in Control for Company employees generally and for Covered Employees in particular. The terms of such stock option plans and grants made thereunder remain in
full force and effect. 
 8.1.5 Short Term Incentive Earned Prior to Date of Termination. In the event that the Covered
Employee’s date of termination is prior to the date that the amount of short term incentive earned by employees of the Company for that year is determined, if any, the Covered Employee will be entitled to receive, in addition to the Total Cash
Compensation Target, a pro rata share of his or her actual short term incentive earned for such year, if any, e.g., if the Covered Employee’s date of termination is July 1, he or she will be entitled to receive 50% of his or her actual
short term incentive. Such pro rata short term incentive payment will be paid according to the terms of the Company’s compensation program in effect for the calendar year in which the Involuntary Termination of the Covered Employee occurs. The
Covered Employee’s pro rata share of actual short term incentive for such year will be paid to the Covered Employee at the same time that it is paid to employees of the Company generally, regardless of the Covered Employee’s date of
termination of employment. 
 8.2 Release. As a condition to receiving Severance Benefits under this Plan, each Covered Employee will
be required to sign a waiver and release of all claims arising out of the termination of the Covered Employee’s employment with the Company and its subsidiaries and affiliates, in the form set forth on Exhibit B. 
 8.3 Vacation and PTO Days. Any unused vacation or personal time off (“PTO”) pay accrued as of a Covered Employee’s date of
Involuntary Termination will be paid at the time the Covered Employee receives his or her Total Cash Compensation Target payment. No Covered Employee may use any accrued but unused vacation or PTO pay to extend his or her Involuntary Termination
date or to postpone or delay the start of his or her Severance Period. 
 9. Withholding. The Company will withhold from any Severance
Benefit all federal, state, local and other taxes required to be withheld therefrom and any other required payroll deductions. 
  

 3 

 10. Administration. The Company is the Administrator of the Plan (within the meaning of section
3(16)(A) of ERISA). The Plan will be administered and interpreted by the Administrator (in his or her sole discretion). The Administrator is the “named fiduciary” of the Plan for purposes of ERISA and will be subject to the fiduciary
standards of ERISA when acting in such capacity. Any decision made or other action taken by the Administrator with respect to the Plan, and any interpretation by the Administrator of any term or condition of the Plan, or any related document, will
be conclusive and binding on all persons and be given the maximum possible deference allowed by law. The Administrator has the authority to act for the Company (in a non-fiduciary capacity) as to any matter pertaining to the Plan; provided, however,
that this authority does not apply with respect to (a) the Company’s power to amend or terminate the Plan or (b) any action that could reasonably be expected to increase significantly the cost of the Plan, the authority to take such
actions is subject to the prior approval of the Board. 
 11. Eligibility to Participate. The Administrator will not be excluded from
participating in the Plan if otherwise eligible, but he or she is not entitled to act or pass upon any matters pertaining specifically to his or her own benefit or eligibility under the Plan. The chief executive officer of the Company will act upon
any matters pertaining specifically to the benefit or eligibility of the Administrator under the Plan. 
 12. Amendment or Termination.
The Company reserves the right to amend or modify the Plan at any time, without advance notice to any Covered Employee, including but not limited to the Severance Periods set forth on Exhibit A. Notwithstanding the preceding, no amendment
or modification of the Plan shall impair the rights of any Covered Employee, unless mutually agreed otherwise between the Covered Employee and the Company, which agreement must be in writing and signed by the Covered Employee and the Company. The
Plan will automatically terminate on March 31, 2008 unless the Company determines otherwise; provided, however, if there are any outstanding Determination Periods or Severance Periods on March 31, 2008, then the Plan will remain in effect
until all Severance Benefits have been paid with respect to any such Determination Periods and Severance Periods. The Company shall not have the power to terminate the Plan prior to March 31, 2008 without the consent of the affected Covered
Employees. 
 13. Severance Agreements for Certain Covered Employees. Certain Covered Employees have previously entered into
written severance agreements with the Company prior to December 1, 2004. Such Covered Employees will not be entitled to severance benefits under both the Plan and their written agreements. Within five (5) days of the Covered
Employee’s Involuntary Terminaion, the Covered Employee shall elect whether he or she will receive benefits under the written severance agreement or the Plan. 
 14. Claims Procedure. Any employee or other person who believes he or she is entitled to any payment under the Plan may submit a claim in writing to the Administrator or his or her designee. If the claim
is denied (in full or in part), the claimant will be provided a written notice explaining the specific reasons for the denial and referring to the provisions of the Plan on which the denial is based. The notice will also describe any additional
information needed to support the claim. The denial notice will be provided within 90 days after the claim is received. If special circumstances require an extension of time (up to 90 days), written notice of the extension will be given within the
initial 90-day period. 
 15. Appeal Procedure. If the claimant’s claim is denied, the claimant (or his or her authorized
representative) may apply in writing to the Administrator for a review of the decision denying the claim. Review must be requested within 60 days following the date the claimant received the written notice of their claim denial or else the claimant
loses the right to review. The claimant (or representative) then has the right to review pertinent documents and to submit issues and comments in writing. The Administrator will provide written notice of his or her decision on review within 60 days
after it receives a review request. If additional time (up to 60 days) is needed to review the request, the claimant (or representative) will be given written notice of the reason for the delay. 
 16. Source of Payments. All Severance Benefits will be paid in cash from the general funds of the Company; no separate fund will be established
under the Plan; and the Plan will have no assets. No right of any person to receive any payment under the Plan will be any greater than the right of any other general unsecured creditor of the Company. 
 17. Inalienability. In no event may any current or former employee of the Company or any of its subsidiaries or affiliates sell, transfer,
anticipate, assign or otherwise dispose of any right or interest under the Plan. At no time will any such right or interest be subject to the claims of creditors nor liable to attachment, execution or other legal process. 
  

 4 

 18. No Enlargement of Employment Rights. Neither the establishment or maintenance of the Plan, any
amendment of the Plan, nor the making of any benefit payment hereunder, will be construed to confer upon any individual any right to be continued as an employee of the Company. The Company expressly reserves the right to discharge any of its
employees, including Covered Employees, at any time, with or without cause. 
 19. Applicable Law and Choice of Forum. The provisions
of the Plan will be construed, administered and enforced in accordance with ERISA and, to the extent applicable, the laws of Canada or the State of Utah. The Covered Employee agrees that any action brought under the Plan will be brought in the State
of Utah. 
 20. Severability. If any provision of the Plan is held invalid or unenforceable, its invalidity or unenforceability will
not affect any other provision of the Plan, and the Plan will be construed and enforced as if such provision had not been included. 
 21.
Headings. Headings in this Plan document are for purposes of reference only and will not limit or otherwise affect the meaning hereof. 
 22. Indemnification. The Company hereby agrees to indemnify and hold harmless the officers and employees of the Company, and the members of its boards of directors, from all losses, claims, costs or other liabilities arising from
their acts or omissions in connection with the administration, amendment or termination of the Plan, to the maximum extent permitted by applicable law. This indemnity will cover all such liabilities, including judgments, settlements and costs of
defense. The Company will provide this indemnity from its own funds to the extent that insurance does not cover such liabilities. This indemnity is in addition to and not in lieu of any other indemnity provided to such person by the Company by
written agreement, by-laws, incorporation documents or state law. 
 23. Breach and Attorneys’ Fees. In the event that a Covered
Employee breaches the waiver and release attached as Exhibit B, to the fullest extent permitted by law (including the Employment Standards Act), the Company shall be entitled to pursue all legal remedies against the Covered Employee and the Covered
Employee shall be liable to the Company for its reasonable attorneys’ fees and costs incurred in pursuing such legal remedies. 
 24. Representations by the Company. Except as provided in Section 12 above, no employee, officer, director, or agent of the Company has the authority to alter, vary, modify, or waive the terms and conditions of the Plan. Except
as provided in Section 13 above, no verbal or written representations that are in addition to or contrary to the terms of the Plan and its written amendments shall be binding on the Plan, the Administrator or the Company. 
 25. Return of Company Property. All property of the Company, including but not limited to keys, credit cards, documents, records, office
equipment, computers, cell phones, etc., must be returned by the Covered Employee to the Company within five (5) business days of the Covered Employee’s Involuntary Termination in order for the Covered Employee to receive the Severance
Benefit. 
 26. Additional Information. 
  

			
	 Plan Name:
	  	NPS Pharmaceuticals, Inc. Change in Control Severance Pay Plan
		
	Plan Sponsor:	  	 NPS Pharmaceuticals, Inc.
 383 Colorow Drive

Salt Lake City, Utah 84108
 (801) 883-4939

		
	Identification Numbers:	  	 EIN: 87-0439579
 PLAN: 501

		
	Plan Year:	  	Calendar year

  

 5 

			
	Plan Administrator:	  	 NPS Pharmaceuticals, Inc.
 Attention: Vice
President,
 Human Resources
 300 Interspace Parkway,
4th Floor, Building B
 Parsippany, New Jersey 07054
 (973) 394-8600

		
	 Agent for Service of
 Legal
Process:
	  	 NPS Pharmaceuticals, Inc.
 Attention: General
Counsel
 NPS Pharmaceuticals, Inc.
 383 Colorow Drive

Salt Lake City, Utah 84108
 (801) 883-4939

 27. Statement of ERISA Rights for U.S. Employees. Under ERISA, Covered Employees have
certain rights and protections: 
 27.1 You may examine (without charge) all Plan documents, including any amendments and copies of all
documents filed with the U.S. Department of Labor, such as the Plan’s annual report (IRS Form 5500). These documents are available for your review in the Company’s Human Resources Department. 
 27.2 You may obtain copies of all Plan documents and other Plan information upon written request to the Plan Administrator. A reasonable charge may be
made for such copies. 
 27.3 In addition to creating rights for Covered Employees, ERISA imposes duties upon the people who are responsible
for the operation of the Plan. The people who operate the Plan (called “fiduciaries”) have a duty to do so prudently and in the interests of you and the other Covered Employees. No one, including the Company or any other person, may fire
you or otherwise discriminate against you in any way to prevent you from obtaining a benefit under the Plan or exercising your rights under ERISA. If your claim for a severance benefit is denied, in whole or in part, you must receive a written
explanation of the reason for the denial. You have the right to have the denial of your claim reviewed. (The claim review procedure is explained in Sections 10 and 11 above.) 
 27.4 Under ERISA, there are steps you can take to enforce the above rights. For instance, if you request materials and do not receive them within 30
days, you may file suit in a federal court. In such a case, the court may require the Plan Administrator to provide the materials and to pay you up to $110 a day until you receive the materials, unless the materials were not sent because of reasons
beyond the control of the Plan Administrator. If you have a claim that is denied or ignored, in whole or in part, you may file suit in a state or federal court. If it should happen that you are discriminated against for asserting your rights, you
may seek assistance from the U.S. Department of Labor, or you may file suit in a federal court. 
 27.5 In any case, the court will decide
who will pay court costs and legal fees. If you are successful, the court may order the person you have sued to pay these costs and fees. If you lose, the court may order you to pay these costs and fees, for example, if it finds that your claim is
frivolous. 
 27.6 If you have any questions regarding the Plan, please consult the Company’s Human Resources Department. If you have
any questions about this statement or about your rights under ERISA, you may contact the nearest area office of the Employee Benefits Security Administration (formerly the Pension and Welfare Benefits Administration), U.S. Department of Labor,
listed in your telephone directory, or the Division of Technical Assistance and Inquiries, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W. Washington, D.C. 20210. 
  

 6 

 EXHIBIT A 
 SEVERANCE PERIOD FOR EACH JOB CLASSIFICATION 
  

	 	1.	Employees in Grades 9-11: 9 Months Total Cash Compensation Target. 

  

	 	2.	Non-Officer Vice Presidents (Tier 5): 12 Months Total Cash Compensation Target. 

  

	 	3.	Officer Level Vice Presidents (Tiers 2-4): 18 Months Total Cash Compensation Target 

  

	 	4.	Chief Executive Officer and Chief Operating Officer: 24 Months Total Cash Compensation Target 

  

 7 

 EXHIBIT B 
 WAIVER AND RELEASE AGREEMENT 
 1. For good and valuable consideration (as provided in paragraph 2
below),                  (hereinafter the “Employee”), with the intention of binding himself or herself and his or her heirs, executors, administrators
and assigns, does hereby release NPS Pharmaceuticals, Inc. and its affiliates and subsidiaries and their affiliated companies, divisions, subsidiaries, successors, predecessors and assigns, and their respective present and former officers,
directors, executives, agents, attorneys and employees (collectively the “Released Parties”), of and from any and all claims, actions, causes of action, demands, attorneys’ fees and liabilities of whatever kind or nature in law,
equity or otherwise, whether now known or unknown, federal or state, which the Employee, individually or as a member of a class, now has, owns or holds, or has at any time heretofore had, owned or held, against any Released Party arising out of or
in any way connected with the Employee’s employment relationship with the Released Parties, or the termination thereof, up to the date of this Waiver and Release Agreement (“Agreement”). Such claims include without limitation, any
claims for severance or vacation or other benefits, unpaid wages, salary or incentive payment, breach of contract, wrongful discharge, or employment discrimination under any applicable federal, state or local statute, provision, order or regulation
including, but not limited to, any claim under the Age Discrimination in Employment Act (“ADEA”). The Employee specifically waives any and all claims for back pay, front pay, or any other form of compensation, except as set forth herein.

 Notwithstanding the foregoing, the Employee does not waive rights, if any, the Employee may have to unemployment insurance
benefits or workers’ compensation benefits. The Employee does not waive any claims or rights under the ADEA which may arise from events occurring after the date of this Agreement. 
 2. In reliance on the releases and agreements set forth herein and pursuant to the NPS Pharmaceuticals, Inc. Change in Control Severance Pay Plan
(“Plan”), the Employee shall receive the gross amount
of                                       
                                        
            ($            ), less applicable federal and state withholding taxes, in accordance with Section 8.1.1 of
the Plan. The Employee acknowledges that he or she would not be entitled to the total amount provided herein without signing this Agreement. 
 3. The Employee acknowledges and agrees that neither the Plan nor this Agreement is to be construed in any way as an admission of any liability whatsoever by any Released Party under any federal or state statute or the principles of common
law, any such liability having been expressly denied. 
 4. The Employee acknowledges and agrees that he or she has not, with respect to any
transaction or state of facts existing prior to the date of execution of this Agreement, filed any complaints, charges or lawsuits against any of the Released Parties with any governmental agency or any court or tribunal, and that he or she will not
do so at any time hereafter. The parties to this Agreement understand that the Employee does not waive any rights or claims that may arise after the date that this Agreement is executed. 
 5. The Employee acknowledges and agrees that it continues to be bound by the confidentiality provisions of the Employee Agreement Concerning Invention
Assignment, Non-Disclosure and Non-Competition. 
 6. In the event that the Employee breaches this Agreement, to the fullest extent permitted
by law (including the Employment Standards Act), the Company shall be entitled to pursue all legal remedies against the Employee and the Employee shall be liable to the Company for its reasonable attorneys’ fees and costs incurred in pursuing
such legal remedies. 
 7. The Employee further declares and represents that he or she has carefully read and fully understands the terms of
this Agreement and the Plan, that he or she has been given not less than forty-five (45) days to consider this Agreement and, if applicable, the statistical data provided to him or her, that he or she has been advised to seek, and has had the
opportunity to seek, the advice and assistance of counsel with regard to this Agreement and the terms of the Plan, and that he or she knowingly and voluntarily, of his or her own free will, without any duress, being fully informed and after due
deliberate thought and action, accepts the terms of and signs this Agreement as his or her own free act. 
  

 8 

 8. The Employee acknowledges and understands that he or she may revoke this Agreement within seven
(7) days of signing it by sending a written notice of revocation to Vice President, Human Resources, NPS Pharmaceuticals, Inc., 300 Interspace Parkway, 4th Floor, Building B, Parsippany, New Jersey 07054. The Employee further understands that if he or she revokes this Agreement, it shall not be effective or enforceable and he or she will not receive any
payments or other benefits provided for in the Plan. This Agreement shall not become effective or enforceable until the revocation period has expired, but shall be final and binding on the eighth (8th) day after it has been executed. 
 DATED
this             day of             , 200    . 
  

	
	  
  

	[Employee]

 The foregoing instrument was acknowledged before me this      day
of                     , 200    , by [Employee]. 
  

	
	  
  

	 NOTARY PUBLIC

	
	 Residing
at:                                       
                         

  

 9Agreement of Purchase and sale between the Registrant and Biomed Realty, L.P.

 Exhibit 10.23A 
 EXECUTION VERSION 
 AGREEMENT OF PURCHASE AND SALE 
 (383 Colorow Drive, Salt Lake City, Utah) 
 This Agreement of Purchase and Sale (“Agreement”) is made as of the 20th day of December
2005 (“Effective Date”) between NPS Pharmaceuticals, Inc., a Delaware corporation (“Seller”), and BioMed Realty, L.P., a Maryland limited partnership (“Purchaser”). 
 Subject to the terms and conditions of this Agreement, Seller will sell to Purchaser, and Purchaser will purchase from Seller the Property (as defined
below), including an approximately 93,650 rentable square foot, three-story, laboratory and office building located at 383 Colorow Drive, Salt Lake City, Utah 84108 (the “Building”). The land underlying the Building is not owned by
Seller and is subject to that certain Ground Lease dated the 10th day of December, 2003 (the “Ground
Lease”), between the Seller, as lessee, and the University of Utah, as ground lessor (“Ground Lessor”). 
 ARTICLE 1.
PROPERTY/PURCHASE PRICE 
 1.1. Property. Subject to the terms and conditions of this Agreement, Seller agrees to sell to
Purchaser, and Purchaser agrees to purchase from Seller, the following property (collectively, the “Property”): 
 (a) The
Building; 
 (b) Seller’s leasehold interest in the land described in Exhibit A attached hereto (the
“Land”), subject to the terms and conditions of the Ground Lease, and all other right, title and interest of Seller in and to (i) all and singular the rights, benefits, privileges, easements, tenements, hereditaments, and
appurtenances thereon or in anyway appertaining to such Land; and (ii) all strips and gores and any land lying in the bed of any street, road or alley, open or proposed, adjoining such Land; 
 (c) All right, title and interest of Seller in and to all improvements and fixtures located on the Land (the “Improvements”), except for
tangible personal property and other trade fixtures and equipment owned by Seller, which shall not be part of the Improvements or this Agreement and shall remain the property of Seller; provided, however, all electrical, plumbing,
HVAC, life safety systems, attached laboratory benches, autoclaves, climatized rooms, and gas and liquid distribution systems, shall be included as part of the Improvements and assigned to Purchaser at Closing. The Building, Land and Improvements
are collectively referred to herein as the “Real Property; and 
 (d) The “Intangible Property,” being all,
right, title and interest of Seller, if any, in and to: (i) all intangible personal property now or hereafter used exclusively in connection with the operation, ownership, maintenance, management, or occupancy of the Real Property (to the
extent assignable); (ii) the plans and specifications for the Improvements (to the extent assignable); (iii) warranties, indemnities, applications, permits, approvals and licenses (to the extent applicable in any way to the above
referenced Real Property or the Tangible Personal Property and assignable); and (iv) insurance proceeds and condemnation awards or claims thereto to the extent provided be assigned to Purchaser hereunder. 
 1.2. Purchase Price. The total purchase price to be paid to Seller by Purchaser for the Property shall be NINETEEN MILLION DOLLARS ($19,000,000)
(the “Purchase Price”). The Purchase Price, as adjusted for prorations, deposits and other adjustments as provided herein, shall be paid to Escrow Agent by wire transfer of immediately available funds or in cash. 
 1.3. Deposit of Earnest Money. Within two (2) business days (in this Agreement, a business day shall mean any day of the year other than any
Saturday or Sunday or any other day on which banks 

 located in San Diego, California generally are closed for business) after the Effective Date, Purchaser shall deposit
$250,000 in cash (such amount, including any interest earned thereon, the “Earnest Money”) with the Escrow Agent (as defined below). The Escrow Agent shall hold and disburse the Earnest Money in accordance with the escrow provisions
in Exhibit B. Prior to the expiration of the Due Diligence Period (as defined below), the Earnest Money shall be promptly returned to Purchaser upon termination of this Agreement pursuant to Section 2.2. Following the expiration
of the Due Diligence Period, the Earnest Money shall be non-refundable, except as otherwise provided herein. Seller shall not deliver any instruction to the Escrow Agent calling for disbursement of the Earnest Money to Seller except following the
occurrence of Purchaser’s default hereunder and the expiration of any applicable cure period or as otherwise expressly provided in this Agreement, and Seller further agrees to provide Purchaser with a copy of such instruction concurrently with
the delivery thereof to the Escrow Agent. Provided such supplemental escrow instructions are not in conflict with this Agreement as it may be amended in writing from time to time, Seller and Purchaser agree to execute such supplemental escrow
instructions as may be appropriate to enable Escrow Agent to comply with the terms of this Agreement. 
 1.4. Title Company and Escrow
Agent. The “Escrow Agent” and “Title Company” are: LandAmerica Commercial Services, 750 B Street #3000, San Diego, CA 92101, Attn: Paula Mraz (Tel #: (619) 230-6352: Fax#: (619) 233-4684). 

1.5. Closing Date. The “Closing Date” shall mean December 22, 2005. 
 ARTICLE 2. INSPECTION 
 2.1. Seller’s Delivery
of Specified Documents. To the extent such items exist and are in Seller’s possession or control, Seller shall provide or make available to Purchaser at the Property the information and documents set forth on Exhibit C attached
hereto (the “Property Information”) on the Effective Date. Seller agrees to cooperate with Purchaser and make copies, at Purchaser’s expense, of such documentation as Purchaser may request during the course of Purchaser’s
review of the Property Information. The terms “Operating Statements,” and “Service Contracts” are defined in Exhibit C. Seller shall have the continuing obligation during the pendency of this Agreement to
provide Purchaser with any document described in Exhibit C and coming into Seller’s or its property manager’s possession or produced by or for Seller after the initial delivery of the Property Information. 
 2.2. Due Diligence. Purchaser shall have until December 21, 2005 (the “Due Diligence Period”) in which to examine, inspect,
and investigate the Property, and, in Purchaser’s sole and absolute judgment and discretion, to determine whether the Property is satisfactory to Purchaser to proceed with this transaction. Purchaser may terminate this Agreement pursuant to
this Section 2.2 by giving written notice of termination to Seller on or before the last day of the Due Diligence Period, and in the event Purchaser terminates this Agreement, Purchaser shall promptly thereafter return to Seller all
documents that Seller shall have provided to Purchaser in connection with the Property, the Earnest Money shall be refunded to Purchaser immediately upon request, and all further rights and obligations of the parties under this Agreement shall
terminate except for those that expressly survive such termination. 
 2.3. Access. Upon reasonable prior notice to Seller, Purchaser
and its agents, employees, consultants, lenders and representatives shall have reasonable access to the Property and all books and records for the Property that are in Seller’s possession or control for the purpose of conducting surveys,
appraisals, architectural, engineering, structural, mechanical, geotechnical and environmental inspections and tests, and any other inspections, studies, or tests reasonably required by Purchaser; provided, however, Purchaser may not conduct any
invasive testing without Seller’s prior written consent (which consent shall not be unreasonably withheld) and Seller shall have the right to accompany Purchaser during all activities conducted at the Property. Invasive testing shall include
but not be limited to any testing, studies or inspections that may disturb the Property in a material respect or interfere with the use of the Building or Seller’s business. If any inspection or test disturbs the Property in a material respect,

  

 2 

 Purchaser will restore the Property to its condition before any such inspection or test. Purchaser shall provide to
Seller, at Seller’s expense, copies of the results of all such inspections, studies or tests required by Purchaser. During the pendency of this Agreement, Purchaser and its agents, employees, consultants, lenders and representatives shall have
a continuing right of reasonable access to the Property and any office where the records of the Property are kept, with at least two (2) days prior notice, for the purpose of examining and making copies, at Purchaser’s sole expense, of all
books and records and other materials relating to the Property in Seller’s possession or control. Purchaser shall have the right to conduct a “walk-through” of the Property before the Closing upon at least two (2) days prior
notice to Seller. In the course of its investigations, Purchaser may make inquiries concerning the Real Property to third parties, including, without limitation, representatives, contractors, parties to Service Contracts and municipal, local and
other government officials and representatives in accordance with the terms of this Agreement, and Seller consents to such inquiries. Purchaser hereby indemnifies, protects, defends (with counsel reasonably acceptable to Seller) and holds Seller and
the Property free and harmless from and against any and all costs, losses, liabilities, damages, lawsuits, judgments, actions, proceedings, penalties, demands, attorneys’ fees, mechanic’s liens, or expenses of any kind or nature whatsoever
(“Claims”), to the extent caused by any entry and/or activities upon the Property by Purchaser, Purchaser’s agents, contractors and/or subcontractors, provided, however, Purchaser shall not indemnify Seller against any Claims
caused by Seller’s negligence or willful misconduct, or Claims arising out of conditions that were present before Purchaser entered the Property, except to the extent that Purchaser’s activities (a) are unreasonable in the context of
the information provided to Purchaser, or reasonably evident to Purchaser, with respect to such existing condition, and (b) exacerbate such existing conditions. The foregoing indemnity obligations shall survive the termination of this Agreement
and the Closing. 
 2.4. Ground Lessor Estoppel. Seller shall endeavor to secure and deliver to Purchaser an estoppel certificate from
Ground Lessor under the Ground Lease substantially in the form of Exhibit D attached hereto (the “Ground Lessor Estoppel”). The Ground Lessor Estoppel shall be delivered to Ground Lessor no later than one (1) day after
the Effective Date, and Seller shall apply commercially reasonable efforts to obtain the same, duly executed by Ground Lessor, and deliver the same to Purchaser no later than one (1) day after the Effective Date. Seller shall provide Purchaser
with copies of the Ground Lessor Estoppel in the form attached hereto as Exhibit D for Purchaser’s review and comment before delivering the Ground Lessor Estoppel to Ground Lessor. If Ground Lessor fails to deliver the Ground Lessor
Estoppel, then Seller may elect to satisfy the requirement to obtain such estoppel by delivering an estoppel certificate in the form attached hereto as Exhibit E. 
 2.5. Service Contracts; Property Management and Leasing Agreements; Property Employees. During the Due Diligence Period, Purchaser shall notify Seller as to which Service Contracts Purchaser will assume and
which Service Contracts shall be terminated by Seller in Purchaser’s sole discretion. Purchaser will assume the obligations arising from and after the Closing Date under those Service Contracts which Purchaser has elected to assume. Seller
shall terminate at Closing all Service Contracts that are not so assumed, provided that such termination does not expose Seller to liability. Seller shall terminate at Closing, and Purchaser shall not assume, any property management or leasing
agreement affecting the Property. 
 ARTICLE 3. TITLE AND SURVEY REVIEW 
 3.1. Delivery of Preliminary Title Report and Survey. Seller shall cause to be delivered to Purchaser on the Effective Date, any existing survey of the Land and the Building in Seller’s possession or
control. Purchaser may, in its sole discretion, and at its sole expense, obtain a new ALTA-ACSM Urban survey of the Property (the “Survey”) prior to the expiration of the Due Diligence Period, including a certification addressed to
Purchaser, substantially in the form attached hereto as Exhibit F. The Survey shall plot all plotable easements benefiting the Property. Purchaser may, in its sole discretion, obtain a preliminary title report (the “Preliminary
Title Report”) issued by the Title Company. The Preliminary Title Report, the documents referred to therein, and the Survey are referred to herein collectively as the “Title Documents.” 
  

 3 

 3.2. Title Review and Cure. During the Due Diligence Period, Purchaser shall review title to the
Property as disclosed by the Title Documents. Purchaser shall be entitled to object to any title matters shown in the Title Documents, in its sole discretion, by a written notice of objections delivered to Seller on or before the expiration of the
Due Diligence Period. Purchaser shall notify the Seller before the expiration of the Due Diligence Period which title exceptions (excluding survey matters), if any, will not be accepted by Purchaser (the “Title Notice”). If
Purchaser fails to notify Seller in writing of its disapproval of any exceptions before the expiration of the Due Diligence Period, Purchaser shall be deemed to have approved the condition of title to the Real Property. If Purchaser notifies Seller
in writing that Purchaser objects to any exceptions to title, Seller shall have one (1) business day after receipt of the Title Notice to notify Purchaser of either of the following: (a) that Seller will remove all such objectionable
exceptions from title on or before the Closing; (b) that Seller will remove certain objectionable exceptions from title on or before the Closing; or (c) that Seller elects not to cause such exceptions to be removed. If Seller fails to
notify Purchaser within such one (1) business day period, then Seller shall be deemed to have made an election under the foregoing clause (c). Notwithstanding the foregoing or any other provision of this Agreement, all monetary obligations
(including, without limitation, mechanics’ and materialmens’ liens or claims thereof, any liens or encumbrances that secure obligations for borrowed money and any exceptions or encumbrances to title which are created by or through Seller
after the Effective Date) disclosed in the Preliminary Title Report constituting a lien against the Real Property are to be satisfied by Seller before Closing. With respect to any other objections, Seller will reasonably cooperate with Purchaser in
curing such objections. The procurement by Seller of a commitment for the issuance of the Title Policy (as defined in Section 5.2(f) hereof) or an endorsement thereto insuring Purchaser, in a manner acceptable to Purchaser, against any
title exception which was disapproved pursuant to this Section 3.2 shall be deemed a cure by Seller of such disapproval. If Seller gives Purchaser notice under clause (b) or (c) above, Purchaser shall have one (1) business
day after the date of such notice in which to notify Seller that Purchaser will nevertheless proceed with the purchase in accordance with the provisions of this Agreement and take title to the Property subject to such exceptions, or that Purchaser
will terminate this Agreement and receive a refund of the Earnest Money. If Purchaser does not terminate this Agreement or deliver a Title Notice to Seller before the expiration of the Due Diligence Period pursuant to Section 2.2, then
Purchaser shall have been deemed to have approved any title exception set forth in the Title Documents that Seller is not obligated to remove and Seller did not agree in writing to remove or cure. If after the expiration of the Due Diligence Period
the Title Company revises the Preliminary Title Report or the surveyor revises the Survey, to add or modify exceptions, then Purchaser may terminate this Agreement and receive a refund of the Earnest Money if the provision for their removal or
modification satisfactory to Purchaser is not made. In such case, the Closing Date shall be extended for up to ten (10) days in order for Purchaser and Seller to determine if such exception can be resolved and to give Purchaser the opportunity
to terminate this Agreement and receive a refund of the Earnest Money if the exception is not removed. 
 3.3. Permitted Exceptions and
Endorsements. “Permitted Exceptions” means the following exceptions approved or deemed approved by Purchaser pursuant to this Agreement: real estate taxes not yet due and payable; the Ground Lease; tenants in possession as
tenants only under the lease agreement to be entered into between Seller, as tenant, and Purchaser, as landlord, at Closing (the “NPS Lease”); the form of which is attached hereto as Exhibit J, and the exceptions approved (or
deemed approved) by Purchaser pursuant to the terms of Section 3.2 above. For the avoidance of doubt, the general exceptions in the Preliminary Title Report will be removed upon issuance of the ALTA extended coverage title policy to be
issued in this transaction and are not Permitted Exceptions. “Purchaser’s Endorsements” shall mean, to the extent such endorsements are available under the laws of the state in which the Property is located:
(1) owner’s comprehensive; (2) access; (3) survey (accuracy of survey); (4) location (survey legal matches title legal); (5) separate tax lot; (6) subdivision map act; (7) zoning 3.1, with parking and loading
docks; (8) mechanic’s lien; (9) deletion of creditors’ rights exception; (10) endorsement over 
  

 4 

 environmental protection liens; (11) utilities endorsement; (12) leasehold endorsement; and (13) such
other endorsements as Purchaser may require during the Due Diligence Period based on its review of the Preliminary Title Report and Survey. 
 3.4. ALTA Statement. Seller shall execute at Closing an ALTA Statement (Owner’s Affidavit) and any other documents, undertakings or agreements, including a mechanic’s lien indemnity, customarily required by the Title
Company to enable it to issue the Title Policy (as defined in Section 5.2(f) hereof) in accordance with the provisions of this Agreement. 
 ARTICLE 4. GROUND LEASE, OPERATIONS AND RISK OF LOSS 
 4.1. Ground Lease. 
 (a) Waiver. On or before the Effective Date, Ground Lessor shall have waived its option to purchase right under Article VI of the Ground Lease;

 (b) Consent. No later than one (1) business day after the Effective Date, Seller shall use commercially reasonable efforts to
obtain a consent from Ground Lessor, consenting to the NPS Lease and the transfer of Seller’s leasehold interest in the Land and Improvements to Purchaser, in form and substance reasonably satisfactory to Purchaser; 
 (c) Transfer Costs. Seller shall pay, if any, all: (i) transfer fees and other fees, costs and expenses charged by Ground Lessor in
connection with the assignment of the Ground Lease, and (ii) recording costs and expenses relating to the recordation of the amendment to the Ground Lease. Each party shall pay the fees charged by its attorneys in connection with the assignment
of the Ground Lease; 
 (d) Cooperation. The parties shall cooperate in good faith and with reasonable diligence to secure the
approval of Ground Lessor to the assignment of the Ground Lease to Purchaser and the NPS Lease prior to the expiration of the Due Diligence Period. 
 4.2. Ongoing Operations. During the pendency of this Agreement: 
 (a) Preservation of Business. Seller shall cause the
Property to be operated only in the ordinary and usual course of business and consistent with past practice, shall, subject to reasonable wear and tear, preserve intact the Property, preserve the good will and advantageous relationships of Seller
with customers, suppliers, independent contractors, employees and other persons or entities material to the operation of its business, shall perform its obligations under any agreements affecting the Property and shall not take any action or
omission which would cause any of the representations or warranties of Seller contained herein to become inaccurate or any of the covenants of Seller to be breached. 
 (b) Maintenance of Insurance. Seller shall continue to carry its existing insurance through the Closing Date, and shall not allow any breach, default, termination or cancellation of such insurance policies or
agreements to occur or exist. 
 (c) New Contracts. Without Purchaser’s prior written consent in each instance, Seller will not
enter into or amend, terminate, waive any default under, or grant concessions regarding any contract or agreement that will be an obligation affecting the Property or binding on Purchaser after the Closing. 
 (d) Leasing Arrangements. Seller will not enter into any lease, sublease of space or other occupancy agreements affecting the Real Property, and
any and all amendments and supplements thereto, and any and all guaranties and security received by landlord in connection therewith (except the NPS Lease) without Purchaser’s prior written consent. 
  

 5 

 (e) Maintenance of Permits. Seller shall maintain in existence all licenses, permits and
approvals, if any, in its name necessary or reasonably appropriate to the ownership, operation or improvement of the Property. 
 (f)
Ground Lease. Seller covenants and agrees to comply with the terms of the Ground Lease. 
 (g) Exclusive Negotiations. Seller
shall: (i) remove the Property from the market, and (ii) not actively solicit or negotiate with any other prospective purchasers of the Property. 
 4.3. Damage. All risk of loss with respect to the Property shall remain with Seller until the Closing and delivery of the Deed (as defined below) vesting title in Purchaser, when full risk of loss with respect
to the Property shall pass to Purchaser. Seller shall promptly give Purchaser written notice of any damage to the Property, describing such damage, whether such damage is covered by insurance and the estimated cost of repairing such damage, provided
that such damage is known to Seller. If such damage is not material, then the parties shall proceed to close this transaction, and Seller shall, to the extent possible, begin repairs prior to the Closing out of any insurance proceeds received by
Seller for the damage, and shall transfer and assign any remaining insurance proceeds or rights thereto to Purchaser at the Closing. If such damage is material, Purchaser may elect (in its sole discretion) by notice to Seller given within ten
(10) days after Purchaser is notified of such damage (and the Closing shall be extended, if necessary, to give Purchaser such ten (10) day period to respond to such notice) to proceed in the same manner as in the case of damage that is not
material or to terminate this Agreement, in which event the Earnest Money shall be returned to Purchaser. Damage as to any one or multiple occurrences is material if the cost to repair the damage, as reasonably estimated by Seller’s contractor
(if Seller has engaged a contractor to perform the work), and otherwise by a contractor approved by both Purchaser and Seller, acting reasonably, exceeds $100,000. An affiliate of Seller may be engaged as Seller’s contractor, provided Seller
discloses the relationship of such affiliate to Purchaser. 
 4.4. Condemnation. Seller shall promptly give Purchaser notice of any
eminent domain proceedings that are contemplated, threatened or instituted with respect to the Property. By notice to Seller given within ten (10) days after Purchaser receives notice of proceedings in eminent domain that are contemplated,
threatened or instituted by any body having the power of eminent domain with respect to the Property, and if necessary the Closing Date shall be extended to give Purchaser the full ten (10) day period to make such election, Purchaser may
terminate this Agreement, in which event the Earnest Money shall be returned to Purchaser, or proceed under this Agreement, in which event Seller shall, at the Closing, assign to Purchaser its entire right, title and interest in and to any
condemnation award, and Purchaser shall have the right during the pendency of this Agreement to negotiate and otherwise deal with the condemning authority in respect of such matter. 
 ARTICLE 5. CONDITIONS PRECEDENT 
 5.1. Conditions to Seller’s Obligation to Close. In
addition to all other conditions set forth herein, the obligation of Seller to consummate the transactions contemplated hereunder shall be contingent upon the following: 
 (a) Representations. Purchaser’s representations and warranties contained herein shall be true and correct as of the date of this Agreement and the Closing Date; 
 (b) Performance. As of the Closing Date, Purchaser shall have performed its obligations hereunder and all deliveries to be made by Purchaser at
Closing have been tendered; 
 (c) Ground Lease. Ground Lessor’s consent to the assignment of the Ground Lease shall have been
obtained; and 
  

 6 

 (d) Other Condition. Any other condition set forth in this Agreement to Seller’s obligation
to close shall have been satisfied by the applicable date. 
 5.2. Conditions to Purchaser’s Obligation to Close. In addition to
all other conditions set forth herein, the obligation of Purchaser to consummate the transactions contemplated hereunder shall be contingent upon the following: 
 (a) Representations. Seller’s representations and warranties contained herein shall be true and correct as of the date of this Agreement and the Closing Date; 
 (b) Performance. As of the Closing Date, Seller shall have performed its obligations hereunder and all deliveries to be made by Seller at Closing
have been tendered; 
 (c) Default. As of the Closing Date, Seller shall not be in default under any agreement to be assigned to, or
obligation to be assumed by, Purchaser under this Agreement; 
 (d) Physical Condition. The physical condition of the Property shall
be substantially the same on the Closing Date as on the Effective Date, reasonable wear and tear excepted, unless the alteration of said physical condition is caused by Purchaser during the due diligence inspections or the result of a casualty loss
or proceeding in eminent domain, in which case the provisions of Sections 4.2 and 4.3 shall govern; 
 (e) Ground Lease
Condition. (1) Seller shall have obtained and delivered to Purchaser at least one (1) business days prior to the expiration of the Closing Date, (i) the Ground Lessor Estoppel substantially in the form required pursuant to
Section 2.4, and (ii) Ground Lessor’s consent to the assignment of the Ground Lease shall have been obtained, and (2) as of the Closing Date, the Ground Lease shall be in full force and effect and no default, dispute or
controversy shall exist under the Ground Lease; 
 (f) Title. Upon the sole condition of payment of the premium, at Closing, the Title
Company shall irrevocably commit to issue to Purchaser an ALTA Owner’s Policy of title insurance, with extended coverage (i.e., with ALTA General Exceptions deleted), dated as of the date and time of the recording of the Deed (as defined below)
vesting title in Purchaser, in the amount of the Purchase Price, insuring Purchaser as owner of good, marketable and indefeasible fee simple title to the Building and the Improvements, and Purchaser as holder of the leasehold interest in the Land
pursuant to the Ground Lease, subject only to the Permitted Exceptions, and containing the Purchaser’s Endorsements (the “Title Policy”); 
 (g) Title Exceptions. Seller shall have cured all exceptions that it agreed to cure, or was deemed to have agreed to cure, in accordance with Section 3.2. In the event Seller has not cured such
exceptions, in Purchaser’s sole discretion, Purchaser shall have the option to: (a) extend the Closing for up to thirty (30) days to allow Seller the opportunity to cure such exceptions which Seller has agreed to cure but has not yet
cured, or (b) proceed with the Closing and receive a credit from Seller for the total cost to cure such exceptions; 
 (h)
Bankruptcy. No proceeding has been commenced against Seller under the federal Bankruptcy Code or any state law for relief of debtors; 
 (i) Moratorium. No moratorium, statute or regulation of any governmental agency or order or ruling of any court has been enacted, adopted, or issued which would adversely affect Purchaser’s use or development of the Property;

  

 7 

 (j) Financial Condition. No event shall have occurred that would be reasonably likely to result in
a material adverse change in the financial condition of the Seller on the Closing Date as compared to the financial condition of the Seller on the Effective Date; 
 (k) Board Approval. Purchaser shall have obtained approval from the board of directors of BioMed Realty Trust, as a general partner of Purchaser, to enter into this Agreement and to execute the documents
contemplated hereby. Upon the expiration of the Due Diligence Period, this condition shall be deemed to have been satisfied; and 
 (l)
Other Condition. Any other condition set forth in this Agreement to Purchaser’s obligation to close shall have been satisfied by the applicable date. 
 5.3. Failure of Condition Precedent. So long as a party is not in default beyond applicable notice and cure periods hereunder, if any condition to such party’s obligation to proceed with the Closing
hereunder has not been satisfied as of the Closing Date or other applicable date and such condition is not cured within five (5) days after receipt of notice of default from the non-defaulting party, such non-defaulting party may, in its sole
discretion, either (i) terminate this Agreement by delivering written notice to the other party on or before the Closing Date or other applicable date whereupon the Earnest Money shall be returned to Purchaser if Seller is the defaulting party
or paid to Seller if Purchaser is the defaulting party, or (ii) elect to close, notwithstanding the non-satisfaction of such condition, in which event such party shall be deemed to have waived any such condition. 
 ARTICLE 6. DEFAULT AND REMEDIES 
 6.1.
Purchaser’s Defaults; Seller’s Remedies. 
 (a) In the event of a breach by Purchaser of its obligations under this Agreement
to effect the Closing, which breach is not cured within five (5) days after Purchaser’s receipt of notice of default from Seller (provided that no such cure period shall extend the Closing Date or apply for a breach of the obligation to
close by the Closing Date) and Seller is willing, ready and able to perform its obligations hereunder, Seller’s sole remedy shall be to terminate this Agreement and receive and retain all Earnest Money and any earnings thereon as liquidated
damages, not as a penalty. PURCHASER AND SELLER AGREE THAT IT WOULD BE EXTREMELY DIFFICULT OR IMPRACTICAL TO QUANTIFY THE ACTUAL DAMAGES TO SELLER IN THE EVENT OF A BREACH BY PURCHASER, THAT THE AMOUNT OF ALL EARNEST MONEY IS A REASONABLE ESTIMATE
OF SUCH ACTUAL DAMAGES, AND THAT SELLER’S EXCLUSIVE REMEDY IN THE EVENT OF A BREACH BY PURCHASER SHALL BE TO RETAIN ALL EARNEST MONEY AND ANY EARNINGS THEREON AS LIQUIDATED DAMAGES. 
  

					
	 ___________________
	 		 	 _________________________

	 Initials of Seller
	 		 	Initials of Purchaser

 (b) After Closing, in the event of a breach by Purchaser of its obligations under this Agreement
that survive Closing, Seller may exercise any rights and remedies available at law or in equity. 
 6.2. Seller’s Defaults;
Purchaser’s Remedies. 
 (a) In the event of a material breach by Seller of its obligations under this Agreement, which breach is not
cured within five (5) days after Seller’s receipt of notice of default from Purchaser (provided that no such cure period shall extend the Closing Date or apply for a breach of the obligation to close by the Closing Date), Purchaser may
elect one of the following two remedies: (a) terminate this Agreement and receive: (i) a refund of the Earnest Money and any earnings thereon, plus (ii) reimbursement from Seller for Purchaser’s reasonable out of pocket costs
incurred in connection with the negotiation of this Agreement, Purchaser’s diligence with respect to the Property, and 
  

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 Purchaser’s actions in furtherance of the transactions contemplated by this Agreement (provided that said sum
recoverable as reimbursement shall not exceed fifty thousand dollars ($50,000)); or (b) enforce specific performance of this Agreement against Seller, including the right to recover reasonable attorneys’ fees. PURCHASER AND SELLER AGREE
THAT IT WOULD BE EXTREMELY DIFFICULT OR IMPRACTICAL TO QUANTIFY THE ACTUAL DAMAGES TO PURCHASER IN THE EVENT OF A BREACH BY SELLER, THAT THE AMOUNT OF ALL EARNEST MONEY IS A REASONABLE ESTIMATE OF SUCH ACTUAL DAMAGES, AND THAT IN THE EVENT PURCHASER
SELECTS TO ENFORCE ITS REMEDIES UNDER (A) ABOVE, PURCHASER SHALL RECEIVE A REFUND OF ALL EARNEST MONEY AND ANY EARNINGS THEREON, AND PURCHASER’S OUT OF POCKET COSTS. 
 (b) After Closing, in the event of a breach by Seller of its obligations under this Agreement that survive Closing, Purchaser may exercise any rights and
remedies available at law or in equity. 
 ARTICLE 7. CLOSING 
 7.1. Closing and Escrow. The consummation of the transaction contemplated herein (“Closing”) shall occur on the Closing Date at the offices of the Escrow Agent. Closing shall occur through an
escrow with the Escrow Agent. Funds shall be deposited into and held by Escrow Agent in a closing escrow account with a bank satisfactory to Purchaser and Seller. Upon satisfaction or completion of all closing conditions and deliveries, Escrow Agent
shall immediately record and deliver the Deed and deliver the closing documents to the appropriate parties and make disbursements according to the closing statements executed by Seller and Purchaser. Provided such supplemental escrow instructions
are not in conflict with this Agreement as it may be amended in writing from time to time, Seller and Purchaser agree to execute such supplemental escrow instructions as may be appropriate to enable Escrow Agent to comply with the terms of this
Agreement. The parties understand that the Closing shall occur in San Diego, California requiring that all necessary deliveries to escrow must be completed by 11:00 A.M. on the Closing Date. 
 7.2. Seller’s Deliveries in Escrow. On or before 11:00 A.M. on the Closing Date, Seller shall deliver in escrow to the Escrow Agent the
following: 
 (a) Deed. That certain Special Warranty Deed substantially in the form of Exhibit G attached hereto
(“Deed”), sufficient to vest title in Purchaser subject only to the Permitted Exceptions; 
 (b) Bill of Sale and
Assignment of Ground Lease and Contracts. A counterpart of the Bill of Sale and Assignment of Ground Lease and Contracts substantially in the form of Exhibit H attached hereto (“Bill of Sale”), executed and acknowledged
by Seller; 
 (c) Closing Certificate. A certificate from Seller in the form of Exhibit I attached hereto that contains an
updated list of the Service Contracts to be assumed, each of which Seller shall certify to be true and correct as of Closing. 
 (d) NPS
Lease. A counterpart of the NPS Lease substantially in the form of Exhibit J attached hereto; 
 (e) State Law Disclosures.
Such disclosures and reports as are required by applicable state and local law in connection with the conveyance of real property; 
 (f)
FIRPTA. A Foreign Investment in Real Property Tax Act affidavit executed by Seller; 
  

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 (g) Terminations. Subject to Section 2.5, terminations effective no later than Closing
of those Service Contracts which Purchaser has elected not to assume, including any management and leasing agreements affecting the Property; 
 (h) Authority. Evidence of the existence, organization and authority of Seller and of the authority of the persons executing documents on behalf of Seller required by and reasonably satisfactory to Purchaser’s counsel and Escrow
Agent; 
 (i) Indemnity. A mechanic’s lien indemnity, if required, in form reasonably satisfactory to the Escrow Agent and the
Title Company; 
 (j) Ground Lease. A copy of each of the documents that Seller is required to deliver in connection with the
assignment of the Ground Lease; and 
 (k) Other Deliveries. Any other Closing deliveries required to be made by or on behalf of
Seller hereunder or reasonably required to effect the Closing of this transaction consistent with this Agreement. 
 7.3. Purchaser’s
Deliveries in Escrow. On or before 9:00 AM on the Closing Date, Purchaser shall deliver in escrow to the Escrow Agent the following: 
 (a) Purchase Price. The Purchase Price, less the Earnest Money that is applied to the Purchase Price plus or minus applicable prorations, deposited by Purchaser with the Escrow Agent in immediate, same-day federal funds wired for
credit into the Escrow Agent’s escrow account; 
 (b) Bill of Sale and Assignment of Ground Lease and Contracts. A counterpart of
the Bill of Sale, executed by Purchaser; 
 (c) NPS Lease. A counterpart of the NPS Lease, executed by Purchaser; 
 (d) State Law Disclosures. Such disclosures and reports as are required by applicable state and local law in connection with the conveyance of
real property; and 
 (e) Other Deliveries. Any other Closing deliveries required to be made by or on behalf of Purchaser hereunder or
reasonably required to effect the Closing of this transaction consistent with this Agreement. 
 7.4. NPS Lease. Upon receipt of the
fully executed NPS Lease, Title Company shall date the NPS Lease the date of the Closing and deliver a completely executed copy of the NPS Lease to Purchaser and Seller. 
 7.5. Closing Statements/Closing Costs. 
 (a) Seller and Purchaser shall deposit with the Escrow Agent
executed closing statements consistent with this Agreement in the form required by the Escrow Agent. 
 (b) Seller and Purchaser shall
execute such returns, questionnaires and other documents as shall be required with regard to all applicable real property transaction taxes imposed by applicable federal, state or local law or ordinance. 
  

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 (c) Seller shall pay the fees of any counsel representing Seller in connection with this transaction.
Seller shall also pay the following costs and expenses: 
 (i) one-half of the escrow fee, if any, which may be charged by the Escrow Agent
or the Title Company; 
 (ii) the transfer fees, if any, associated with the assignment of the Ground Lease pursuant to
Section 4.1; 
 (iii) the owner’s title insurance premium for a standard title insurance policy; 
 (iv) the excise, recording, deed, imposed transfer tax, documentary stamp tax or similar tax which becomes payable by reason of the transfer of the
Property under applicable state or local law, including, without limitation, any real estate excise tax; 
 (v) all of its recording fees.

 (d) Purchaser shall pay the fees of any counsel representing Purchaser in connection with this transaction. Purchaser shall also pay the
following costs and expenses: 
 (i) one-half of the escrow fee, if any, which may be charged by the Escrow Agent or the Title Company;

 (ii) the costs associated with the issuance of an extended title insurance policy and the Purchaser’s Endorsements; 
 (iii) the cost of the Survey; and 
 (iv)
all of its recording fees. 
 7.6. Possession. At the time of Closing, Seller shall continue to possess the Property without
interruption. 
 7.7. Delivery of Books and Records. Immediately after the Closing, Seller shall deliver to the offices of Purchaser
or Purchaser’s property manager: originals of the Service Contracts (or copies thereof if originals are not available) and the following to the extent the same exist and are in Seller’s possession or control and pertain to the Property:
copies or originals of all books and records of account, contracts, copies of correspondence with suppliers, receipts for deposits, unpaid bills and other papers or documents which pertain to the Property; all permits and warranties; all advertising
materials and booklets; and the original “as-built” plans and specifications for the Building and all other available plans and specifications and all operation manuals. Seller shall reasonably cooperate with Purchaser before and after
Closing to transfer to Purchaser any such information stored electronically. 
 ARTICLE 8. PRORATIONS AND ADJUSTMENTS 
 8.1. Prorations. On or before Closing, Seller shall provide to Purchaser such information and verification reasonably necessary to support the
prorations and adjustments under this Article 8. The items in Subsections (a) through (d) of this Section 8.1 shall be prorated between Seller and Purchaser, based on the actual number of days in the applicable period,
as of the close of the day immediately preceding the Closing Date, the Closing Date being a day of income and expense to Purchaser: 
 (a)
Taxes and Assessments. Purchaser shall receive a credit for any accrued but unpaid real estate taxes and assessments (including, without limitation, any assessments imposed by private covenant) applicable to any period before the Closing
Date, even if such taxes and assessments are not yet due and payable. Purchaser shall receive a credit for any special assessments which are levied or charged against the Property applicable to any period before the Closing Date, whether or not then
due and payable. 
  

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 (b) Income. Purchaser shall receive a credit for any rent, operating expenses or other income
accruing on or before the Closing Date pursuant to the terms of the NPS Lease. 
 (c) Ground Lease. Seller, as lessee under the Ground
Lease, shall pay all rent and other operating costs and expenses in connection with the Land and the Improvements, if any, pursuant to the terms and conditions of the Ground Lease (the “Ground Lease Costs”) applicable to any period
before the Closing Date. Purchaser shall pay the Ground Lease Costs applicable to any period on or after the Closing Date. Purchaser shall receive a credit for any unpaid Ground Lease Costs that are applicable to any period before the Closing Date,
even if such Ground Lease Costs are not yet due and payable. Seller shall receive a credit for Ground Lease Costs that are paid before the Closing Date to the extent such costs are applicable to the period on or after the Closing Date. 

(d) Service Contracts. Seller or Purchaser, as the case may be, shall receive a credit for regular charges under Service Contracts assumed by
Purchaser pursuant to this Agreement paid and applicable to Purchaser’s period of ownership or payable and applicable to Seller’s period of ownership, respectively. 
 (e) Utilities. Seller shall cause the meters, if any, for utilities to be read the day on which the Closing Date occurs and to pay the bills
rendered on the basis of such readings for the period prior to the Closing Date. If any such meter reading for any utility is not available, then adjustment therefor shall be made on the basis of the most recently issued bills therefor which are
based on meter readings no earlier than thirty (30) days before the Closing Date and such adjustment shall be reprorated when the next utility bills are received. 
 8.2. Utility Deposits. Seller shall receive a credit for the amount of deposits, if any, with utility companies that are transferable and that are assigned to Purchaser at the Closing. 
 8.3. Sales Commissions. Seller and Purchaser represent and warrant each to the other that they have not dealt with any real estate broker, sales
person or finder in connection with this transaction. In the event of any claim for broker’s or finder’s fees or commissions in connection with the negotiation, execution or consummation of this Agreement or the transactions contemplated
hereby, each party shall indemnify and hold harmless the other party from and against any such claim based upon any statement, representation or agreement of such party. 
 8.4. Pre-Closing Expenses. Except as otherwise specifically provided in this Agreement or in any other written agreement that may be entered into between Seller and Purchaser, Seller has paid or will pay in
full, prior to Closing (or promptly following receipt of a bill therefor if not received by the Closing), all bills and invoices for labor, goods, material and services of any kind relating to the Property and utility charges, relating to the period
prior to Closing. Any alterations, installations, decorations and other work required to be performed by Seller under any and all agreements affecting the Property have been or will, by the Closing, be completed (except as otherwise provided in
Section 4.3) and paid for in full by Seller. 
 ARTICLE 9. REPRESENTATIONS AND WARRANTIES 
 9.1. Seller’s Representations and Warranties. As a material inducement to Purchaser to execute this Agreement and consummate this transaction,
Seller represents and warrants to Purchaser that: 
 (a) Organization and Authority. Seller has been duly organized, is validly
existing, and is in good standing as a Delaware corporation. Seller is in good standing and is qualified to do business in the state in which the Real Property is located. Seller has the full right and authority and has obtained any and all consents
required to enter into this Agreement and the NPS Lease and to consummate or cause to be consummated the transactions contemplated hereby. This Agreement has been, and all of the documents to be delivered by Seller at the Closing, including the NPS
Lease, will be, authorized and properly executed and constitute, or will constitute, as appropriate, the valid and binding obligations of Seller, enforceable in accordance with their terms. 
  

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 (b) Conflicts and Pending Actions or Proceedings. There is no agreement to which Seller is a party
or, to Seller’s knowledge, binding on Seller or the Property which is in conflict with this Agreement or the NPS Lease, or which challenges or impairs Seller’s ability to execute or perform its obligations under this Agreement or the NPS
Lease. There is not now pending or, to the best of Seller’s knowledge, threatened, any action, suit or proceeding before any court or governmental agency or body against Seller that would prevent Seller from performing its obligations hereunder
or against or with respect to the Property. No condemnation, eminent domain or similar proceedings are pending or, to Seller’s knowledge, threatened with regard to the Property. Seller has not received any notice and has no knowledge of any
pending or threatened liens, special assessments, impositions or increases in assessed valuations to be made against the Property. 
 (c)
Leases. Seller is the sole occupant of the Property. As of the date hereof, there are no tenants under any leases affecting the Real Property and there are no lease or occupancy agreements affecting any portion of the Real Property other than
the Ground Lease. 
 (d) Service Contracts; Operating Statements. The list of Service Contracts, if any, to be delivered to Purchaser
pursuant to this Agreement is or will be true, correct, and complete as of the date of its delivery. The documents constituting the Service Contracts that are to be delivered to Purchaser are true, correct and complete copies of all of the Service
Contracts affecting the Property. Neither Seller nor, to the best of Seller’s knowledge, any other party is in default under any Service Contract. The Operating Statements to be delivered to Purchaser pursuant to this Agreement, if any, will
show all items of income and expense (operating and capital) incurred in connection with Seller’s ownership, operation, and management of the Property for the periods indicated and will be true, correct, and complete in all material respects.

 (e) Legal Compliance. Seller has all material licenses, permits and certificates necessary for the use and operation of the
Property, including, without limitation, all certificates of occupancy necessary for the lawful occupancy of the Property. Seller has received no written notice that the Property or the use thereof violates any governmental law or regulation or any
covenants or restrictions encumbering the Property. Seller has not received any written notices of violations or alleged violations of any laws, rules, regulations or codes, including building codes, with respect to the Property which have not been
corrected to the satisfaction of the issuer of the notice. 
 (f) Environmental. Seller has no knowledge of, and has received no
notice of, any violation of Environmental Laws related to the Property or the presence or release of Hazardous Materials on or from the Property in violation of Environmental Laws. Seller has not used the Property or any part thereof for the
release, generation, treatment, storage, handling or disposal of any Hazardous Materials, in violation of any Environmental Laws. There are no underground storage tanks located on the Property. The term “Environmental Laws” includes
without limitation the Resource Conservation and Recovery Act and the Comprehensive Environmental Response Compensation and Liability Act and other federal laws governing the environment as in effect on the date of this Agreement, together with
their implementing regulations, guidelines, rules or orders as of the date of this Agreement, and all state, regional, county, municipal and other local laws, regulations, ordinances, rules or orders that are equivalent or similar to the federal
laws recited above or that purport to regulate Hazardous Materials. The term “Hazardous Materials” includes petroleum, including crude oil or any fraction thereof, natural gas, natural gas liquids, liquefied natural gas, or
synthetic gas usable for fuel (or mixtures of natural gas or such synthetic gas), and any substance, material, waste, pollutant or contaminant listed or defined as hazardous or toxic under any Environmental Law. 
  

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 (g) Withholding Obligation. Seller’s sale of the Property is not subject to any federal,
state or local withholding obligation of Purchaser under the tax laws applicable to Seller or the Property. 
 (h) Disclosure. Other
than this Agreement, the documents delivered at Closing pursuant hereto, and the Permitted Exceptions, and the Service Contracts, there are no contracts or agreements of any kind relating to the Property to which Seller or its agents is a party and
which would be binding on Purchaser after Closing. Copies of Property Information delivered to Purchaser pursuant to Section 2.1 hereof are or will be true, correct and complete. Seller has delivered to Purchaser all books, notices,
documents and agreements pertaining to the Property that are in Seller’s possession. To Seller’s knowledge, the Property Information does not contain a material misstatement of fact or omit to state a fact necessary in order to make the
statements therein not misleading in any material respect. Seller is not aware of any current fact or circumstance pertaining to the condition of the Property that (1) have not been disclosed to Purchaser, or will not be disclosed to Purchaser
pursuant to the Property Information, and (2) in Seller’s reasonable opinion have a material adverse impact on the value of the Property. Notwithstanding the foregoing, Purchaser agrees that, so long as Seller discloses the foregoing
information in a manner which is not misleading in any material respect, Purchaser shall be fully responsible for all information that is: (a) readily apparent from a review of the Property Information delivered to Purchaser pursuant to
Section 2.1, the Survey, the Preliminary Title Report and/or any reports or studies obtained by Purchaser; (b) apparent from an inspection of the Building, and/or (c) otherwise disclosed to Purchaser. 
 (i) ERISA. Seller is not and is not acting on behalf of an “employee benefit plan” within the meaning of Section 3(3) of the
Employee Retirement Income Security Act of 1974, as amended, a “plan” within the meaning of Section 4975 of the Internal Revenue Code of 1986, as amended or an entity deemed to hold “plan assets” within the meaning of 29
C.F.R. § 2510.3-101 of any such employee benefit plan or plans. 
 (j) Zoning. The Property’s zoning classification is
Research Park, and permits the use of the Property in the manner in which it is currently being used. There is no proceeding pending or, to Seller’s knowledge, threatened, to modify the zoning for the Property. 
 (k) Ground Lease. The Ground Lease is in full force and effect and no default, dispute or controversy exists under the Ground Lease. Seller has
not received any notice of any default or breach on the part of lessee under the Ground Lease, nor, to Seller’s knowledge, does there exist any such default or breach on the part of lessee. 
 9.2. Purchaser’s Representations and Warranties. As a material inducement to Seller to execute this Agreement and consummate this
transaction, Purchaser represents and warrants to Seller that: 
 (a) Organization and Authority. Purchaser has been duly organized and
is validly existing as a Maryland limited partnership, in good standing and will be qualified to do business in the state in which the Real Property is located on the Closing Date. Subject only to obtaining certain internal approvals on or before
the expiration of the Due Diligence Period, Purchaser has the full right and authority and has obtained any and all consents required to enter into this Agreement and to consummate or cause to be consummated the transactions contemplated hereby.
This Agreement has been, and all of the documents to be delivered by Purchaser at the Closing will be, authorized and properly executed and constitutes, or will constitute, as appropriate, the valid and binding obligation of Purchaser, enforceable
in accordance with their terms. 
 (b) Conflicts and Pending Action. There is no agreement to which Purchaser is a party or to
Purchaser’s knowledge binding on Purchaser which is in conflict with this Agreement. There is no action or proceeding pending or, to Purchaser’s knowledge, threatened against Purchaser which challenges or impairs Purchaser’s ability
to execute or perform its obligations under this Agreement. 
  

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 (c) “As-Is” Purchase. Purchaser is an experienced commercial real estate owner and,
except as set forth in this Agreement or in any document executed at Closing pursuant to or in connection with this Agreement, shall rely solely upon its own evaluation and investigation of the condition and all aspects of the Property. Purchaser
acknowledges that this Agreement grants to Purchaser the opportunity to fully evaluate the condition and all aspects of the Property. Purchaser has asked for, and has obtained in this Agreement, disclosure of information and documents regarding the
Property which is in Seller’s possession or control. Accordingly, except to the extent that Seller fraudulently or intentionally conceals or makes misrepresentations as to the condition or suitability of the Property and except for
Seller’s representations and warranties set forth in this Agreement and the warranties set forth in any closing documents delivered to Purchaser from Seller, Purchaser acknowledges that it is not relying upon any representations of Seller as to
the condition of the Property or its suitability for Purchaser’s intended use. Subject to the foregoing, in the event Purchaser does not terminate this Agreement pursuant to Section 2.2 above, Purchaser shall be deemed to accept the
Property “as is” in all respects and without representation and warranty except as specifically set forth in this Agreement. 
 9.3. Survival of Representations and Warranties. The representations and warranties set forth in this Article 9 are made as of the Effective Date and are remade as of the Closing Date, and such representations and warranties
(and any representations and warranties in any other documents delivered to Purchaser pursuant to the provisions of this Agreement) shall not be deemed to be merged into or waived by the instruments of Closing, but shall survive the Closing.

 ARTICLE 10. MISCELLANEOUS 
 10.1.
Parties Bound. Neither party may assign this Agreement without the prior written consent of the other, and any such prohibited assignment shall be void; provided, however, that Purchaser may assign this Agreement without Seller’s consent
to an Affiliate (including without limitation BioMed Realty Trust, Inc. or BMR-383 Colorow Drive LLC). Subject to the foregoing, this Agreement shall be binding upon and inure to the benefit of the respective legal representatives, successors,
assigns, heirs, and devisees of the parties. For the purposes of this paragraph, the term “Affiliate” means (i) an entity that directly or indirectly controls, is controlled by or is under common control with Purchaser, or
(ii) a partnership or other entity in which Purchaser or an entity described in (i) is a partner or other owner; and the term “control” means the power to direct the management of such entity through voting rights, ownership or
contractual obligations. 
 10.2. Headings. The article and paragraph headings of this Agreement are for convenience only and in no
way limit or enlarge the scope or meaning of the language hereof. 
 10.3. Expenses. Except as otherwise expressly provided herein,
each party hereto shall pay its own expenses incident to this Agreement and the transactions contemplated hereunder, including all legal and accounting fees and disbursements. 
 10.4. Invalidity and Waiver. If any portion of this Agreement is held invalid or inoperative, then so far as is reasonable and possible the
remainder of this Agreement shall be deemed valid and operative, and, to the greatest extent legally possible, effect shall be given to the intent manifested by the portion held invalid or inoperative. The failure by either party to enforce
against the other any term or provision of this Agreement shall not be deemed to be a waiver of such party’s right to enforce against the other party the same or any other such term or provision in the future. 
 10.5. Governing Law and Venue. This Agreement shall, in all respects, be governed, construed, applied, and enforced in accordance with the laws of
the state of Utah and venue and jurisdiction in any action involving, relating to or arising from this Agreement shall lie solely and exclusively with the courts in the County of Salt Lake, State of Utah. 
  

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 10.6. Survival. The provisions of this Agreement and the obligations of the parties not fully
performed at the Closing shall survive the Closing for one year and shall not be deemed to be merged into or waived by the instruments of Closing. Any claim for performance of an obligation after Closing shall be barred and shall lapse unless a
claim is made in writing, with a description of the claim made, on or before the first anniversary of Closing. 
 10.7. No Third Party
Beneficiary. This Agreement is not intended to give or confer any benefits, rights, privileges, claims, actions, or remedies to any person or entity as a third party beneficiary, decree, or otherwise. 
 10.8. Entirety and Amendments. This Agreement embodies the entire agreement between the parties and supersedes all prior agreements and
understandings relating to the Property. This Agreement may be amended or supplemented only in writing by a non-electronic instrument executed by the party against whom enforcement is sought. For the avoidance of doubt, copies of signed instruments
that are electronically transmitted constitute a writing for this purpose. 
 10.9. Time of the Essence. Time is of the essence in the
performance of this Agreement. 
 10.10. Time. All times, whenever specified herein, shall be local time in San Diego, California.

 10.11. Confidentiality. Subject to Section 10.12, (i) the parties agree to keep all negotiations and the terms of
this Agreement confidential, and shall not disclose such terms to any person, without the prior written approval of the other party, and (ii) Purchaser agrees that the books, records and other information relating to the Property reviewed by or
delivered to Purchaser as well as the results from all studies, tests and inspections conducted on the Real Property by Purchaser or its representatives are confidential information under this Agreement and shall not be disclosed nor used by
Purchaser except in furtherance of completing the transactions contemplated by this Agreement. The confidentiality obligations set out in this Section 10.11 shall survive the termination of this Agreement and the Closing. 
 10.12. Press Release. Until the Closing, neither Seller nor Purchaser will release or cause or permit to be released any press notices, or
publicity (oral or written) or advertising promotion relating to, or otherwise announce or disclose or cause or permit to be announced or disclosed, in any manner whatsoever, the terms, conditions or substance of this Agreement without first
obtaining the written consent of the other party except those disclosures that are required by law, including the federal securities laws, applicable stock exchange requirements or contractual obligation (in which case notice shall be timely
provided to the other party of such requirement and disclosure). The foregoing shall not preclude either party from discussing the substance or any relevant details of such transactions with any of its attorneys, accountants, professional
consultants, lenders, partners, investors, or any prospective lender, partner or investor, as the case may be, or prevent either party hereto, from complying with laws, rules, regulations and court orders, including without limitation, governmental
regulatory, disclosure, tax and reporting requirements, or from making disclosures in the ordinary course of its due diligence inspections and contacts with third parties related thereto. Notwithstanding the foregoing, any party to this transaction
(and each employee, agent or representative of the foregoing) may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the transaction and all materials of any kind (including opinions or other tax
analyses) that are provided to them relating to such tax treatment and tax structure except to the extent maintaining such confidentiality is necessary to comply with any applicable federal or state securities laws. The authorization in the
preceding sentence is not intended to permit disclosure of any other information unrelated to the tax treatment and tax structure of the transaction including (without limitation) (i) any portion of the transaction documents or related
materials to the extent not related to the tax treatment or tax structure of the transaction, (ii) the existence or status of any negotiations unrelated to the tax issues, or (iii) any other term or detail not relevant to the tax treatment
or the tax structure of the transaction. 
  

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 10.13. Attorneys’ Fees. Should either party employ attorneys to enforce any of the provisions
hereof, the non-prevailing party agrees to pay the prevailing party all reasonable costs, charges, and expenses, including reasonable attorneys’ fees, expended or incurred by the prevailing party in connection therewith, whether incurred prior
to, during or subsequent to any bankruptcy, receivership, reorganization, appellate, or other legal proceeding. 
 10.14. Notices. All
notices required or permitted hereunder shall be in writing and shall be served on the parties at the addresses set forth in Exhibit K. Any such notices shall be either (i) sent by overnight delivery using a nationally recognized
overnight courier, in which case notice shall be deemed delivered one business day after deposit with such courier, (ii) sent by facsimile on a business day, in which case notice shall be deemed delivered upon transmission of such notice with
confirmed receipt by the sender’s machine, or (iii) sent by personal delivery, in which case notice shall be deemed delivered upon receipt or refusal of delivery. A party’s address may be changed by written notice to the other party;
provided, however, that no notice of a change of address shall be effective until actual receipt of such notice. Copies of notices are for informational purposes only, and a failure to give or receive copies of any notice shall not be deemed a
failure to give notice. The attorney for a party has the authority to send notices on behalf of such party. 
 10.15. Construction.
The parties acknowledge that the parties and their counsel have reviewed and revised this Agreement and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in
the interpretation of this Agreement or any exhibits or amendments hereto. 
 10.16. Remedies Cumulative. Except as expressly provided
to the contrary in this Agreement, the remedies provided in this Agreement shall be cumulative and shall not preclude the assertion or exercise of any other rights or remedies available by law, in equity or otherwise. 
 10.17. Calculation of Time Periods. Unless otherwise specified, in computing any period of time described herein, the day of the act or event
after which the designated period of time begins to run is not to be included and the last day of the period so computed is to be included, unless such last day is a Saturday, Sunday or legal holiday for national banks in the location where the
Property is located, in which event the period shall run until the end of the next day which is neither a Saturday, Sunday, or legal holiday. The last day of any period of time described herein and the time during any day by which an event must
occur shall be deemed to end at 5 p.m. 
 10.18. Public Company Requirements. Upon Purchaser’s request, for a period of two
(2) years after Closing, Seller shall make any books and records of the Property remaining in possession of Seller available to Purchaser for inspection, copying and audit by Purchaser’s designated accountants, and at Purchaser’s
expense. Seller shall provide Purchaser, but without third-party expense to Seller, with copies of, or access to, such factual information in connection with this Agreement and/or the Property as may be reasonably requested by Purchaser, and in the
possession or control of Seller, to enable Purchaser to comply with applicable filing requirements of the Securities and Exchange Commission. Purchaser or its designated independent or other accountants may audit the operating statements of the
Property, and Seller shall supply such documentation in its possession or control as Purchaser or its accountants may reasonably request in order to complete such audit and shall provide to Purchaser’s auditors a representation letter from
Seller or its representative reasonably satisfactory to Purchaser’s auditors in connection with such audit. 
 10.19. Execution in
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, and all of such counterparts shall constitute one agreement. To facilitate execution of this Agreement, the parties
may execute and exchange by telephone facsimile counterparts of the signature pages. 
  

 17 

 10.20. Further Assurances. In addition to the acts and deeds recited herein and contemplated to be
performed, executed or delivered by either party at Closing, each party agrees to perform, execute and deliver, on or after the Closing any further actions, documents, and will obtain such consents, as may be reasonably necessary or as may be
reasonably requested to fully effectuate the purposes, terms and conditions of this Agreement or to further perfect the conveyance, transfer and assignment of the Property to Purchaser. 
 10.21. Approval. To the extent any approval or consent shall be required in this Agreement such approval or consent shall not be unreasonably
withheld, unless the terms of and conditions of such approval or consent are to the sole discretion of such party. 
 10.22. Waiver of
Jury Trial. TO THE EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES HEREBY IRREVOCABLY WAIVE ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 [Signature Page Follows] 
  

 18 

 EXECUTION VERSION 
 IN WITNESS WHEREOF, the parties hereto have executed this Agreement, as of the Effective Date. 
  

							
	SELLER:	 	PURCHASER:
		
	 NPS PHARMACEUTICALS, INC., 
 a Delaware corporation
	 	 BIOMED REALTY, L.P., 
 a Maryland limited partnership

				
	 By
	 	 /s/ MORGAN R. BROWN 
	 	 By
	 	 /s/ GARY A. KREITZER 

	 Name:
	 	 Morgan R. Brown
	 	 Name:
	 	 Gary A. Kreitzer

	 Title:
	 	 VP Financie
	 	 Title:
	 	 Executive Vice President

 [SIGNATURE PAGE: 383 COLOROW DRIVE PURCHASE AND SALE AGREEMENT] 

 Escrow Agent has executed this Agreement in order to confirm that Escrow Agent shall act as escrowee with
respect to and hold in escrow the Earnest Money and the interest earned thereon, and shall disburse the Earnest Money and the interest earned thereon, pursuant to the provisions of Exhibit B hereof. 
  

			
	ESCROW AGENT:
	
	LANDAMERICA COMMERCIAL SERVICES
		
	By	 	 /s/ PAULA MRUZ

	Name:	 	Paula Mruz
	Title:	 	Escrow Officer
	
	Dated: December 21, 2005

 [SIGNATURE PAGE: 383 COLOROW DRIVE PURCHASE AND SALE AGREEMENT] 

 AGREEMENT OF PURCHASE AND SALE 
 [383 Colorow Drive, Salt Lake City, Utah] 
 EXHIBITS 
  

			
	 Exhibit A
	  	Legal Description of Land
		
	 Exhibit B
	  	 Earnest Money Escrow Provisions

		
	 Exhibit C
	  	 Property Information

		
	 Exhibit D
	  	 Ground Lessor Estoppel Certificate

		
	 Exhibit E
	  	 Seller Estoppel Certificate

		
	 Exhibit F
	  	 Survey Certification

		
	 Exhibit G
	  	 Deed

		
	 Exhibit H
	  	 Bill of Sale and Assignment of Ground Lease and Contracts

		
	 Exhibit I
	  	 Closing Certificate

		
	 Exhibit J
	  	 NPS Lease

		
	 Exhibit K
	  	 Notice Addresses

 EXHIBIT A 
 LEGAL DESCRIPTION OF LAND 
 Property located on the University Of Utah at Research Park. 
 Three parcels of land located within the Southeast Quarter Of Section 3, Township 1 South, Range 1 East, Salt Lake Base And Meridian, described as follows:

 Leasehold estate: 
 Beginning
at a point South 65°11’09” East 66.35 feet and North 54°38’21” East 190.000 feet from the existing street monument at Tabby Lane and Colorow Drive, said point of beginning also being a record West 1970.16 feet, North
1931.31 feet, and North 54°38’21” East 190.000 feet From the Southeast Corner of Section 3, Township 1 South, Range 1 East, Salt Lake Base and Meridian; and running thence North 54°42’57” West 573.288 feet; thence
North 35°21’39” West 61.714 feet; thence North 54°38’21” East 589.38 feet; thence South 35°21’40” East 602.601 feet; thence South 54°38’21” West 399.379 feet to the point of beginning.

 Non-exclusive easements for purposes of access and landscaping to run concurrently with the Lease: 
 Beginning at a point South 65°11’09” East 66.35 feet from the existing street monument a Tabby Lane and Colorow Drive, said Point Of Beginning also being a
record West 1970.16 feet and North 1931.31 feet from the Southeast Corner of Section 3, Township 1 South, Range 1 East, Salt Lake Base and Meridian; and running thence North 35°21’39” West 540.887 feet; thence South
54°42’57” East 573.288 feet; thence South 54°38’21” West 190.000 feet to the point of beginning, and 
 Beginning at a point
South 65°11’09” East 66.35 feet and North 54°38’21” East 589.379 feet from the existing street monument at Tabby Lane and Colorow Drive, said point of beginning also being a record West 1970.16 feet, North 1931.31 feet
and North 54°38’21” East 589.379 feet from the Southeast Corner of Section 3, Township 1 South, Range 1 East, Salt Lake Base and Meridian; and running thence North 35°21’40” West 602.601 feet; thence South
46°58’28” East 615.196 feet; thence South 54°38’21” West 123.845 feet to the point of beginning 
 The following is shown for
informational purposes only: Tax Parcel No. 16-03-400-002-2007 and 16-03-400-002-6007 
 The basis of bearing for this parcel is the record bearing
of North 35°21’39” West along the center line of Colorow Drive between the existing street monuments at Tabby Lane and Wakara Drive. 
 [EXHIBIT A] 

 EXHIBIT B 
 EARNEST MONEY ESCROW PROVISIONS 
 1. Investment and Use of Funds. The Escrow Agent shall
invest the Earnest Money in government insured interest-bearing accounts satisfactory to Purchaser, shall not commingle the Earnest Money with any funds of the Escrow Agent or others, and shall promptly provide Purchaser and Seller with confirmation
of the investments made. If the Closing under this Agreement occurs, the Escrow Agent shall deliver the Earnest Money to, or upon the instructions of, Seller on the Closing Date. 
 2. Termination Before Expiration of Due Diligence Period. Purchaser shall notify the Escrow Agent of the date that the Due Diligence Period ends
promptly after such date is established under this Agreement, and Escrow Agent may rely upon such notice. If Purchaser elects to terminate this Agreement prior to the expiration of the Due Diligence Period pursuant to Section 2.2,
Purchaser shall deliver written notice of such termination to Seller and Escrow Agent. Within three (3) business days of its receipt of such termination notice, Escrow Agent shall pay the entire Earnest Money to Purchaser; provided, however,
that if Seller shall, within said three (3) business day period, deliver to Purchaser and the Escrow Agent a written notice that it disputes Purchaser’s claim to the Earnest Money under Section 2.2, Escrow Agent shall retain
the Earnest Money until it receives written instructions executed by both Seller and Purchaser as to the disposition and disbursement of the Earnest Money, or until ordered by final court order, decree or judgment, which is not subject to appeal, to
deliver the Earnest Money to a particular party, in which event the Earnest Money shall be delivered in accordance with such notice, instruction, order, decree or judgment. 
 3. Termination After Expiration of Due Diligence Period. Except as otherwise expressly provided herein, at any time after the expiration of the
Due Diligence Period, upon not less than three (3) business days’ prior written notice to the Escrow Agent and the other party, Escrow Agent shall deliver the Earnest Money to the party requesting the same; provided, however, that if the
other party shall, within said three (3) business day period, deliver to the requesting party and the Escrow Agent a written notice that it disputes the claim to the Earnest Money, Escrow Agent shall retain the Earnest Money until it receives
written instructions executed by both Seller and Purchaser as to the disposition and disbursement of the Earnest Money, or until ordered by final court order, decree or judgment, which is not subject to appeal, to deliver the Earnest Money to a
particular party, in which event the Earnest Money shall be delivered in accordance with such notice, instruction, order, decree or judgment. 
 4. Interpleader. Seller and Purchaser mutually agree that in the event of any controversy regarding the Earnest Money, unless mutual written instructions are received by the Escrow Agent directing the Earnest Money’s
disposition, the Escrow Agent shall not take any action, but instead shall await the disposition of any proceeding relating to the Earnest Money or, at the Escrow Agent’s option, the Escrow Agent may interplead all parties and deposit the
Earnest Money with a court of competent jurisdiction in which event the Escrow Agent may recover all of its court costs and reasonable attorneys’ fees. Seller or Purchaser, whichever loses in any such interpleader action, shall be solely
obligated to pay such costs and fees of the Escrow Agent, as well as the reasonable attorneys’ fees of the prevailing party in accordance with the other provisions of this Agreement. 
 5. Liability of Escrow Agent. The parties acknowledge that the Escrow Agent is acting solely as a stakeholder at their request and for their
convenience, that the Escrow Agent shall not be deemed to be the agent of either of the parties, and that the Escrow Agent shall not be liable to either of the parties for any action or omission on its part taken or made in good faith, and not in
disregard of this Agreement, but shall be liable for its negligent acts and for any loss, cost or expense incurred by Seller or Purchaser resulting from the Escrow Agent’s mistake of law respecting the Escrow Agent’s scope or nature of its
duties. Seller and Purchaser shall jointly and severally indemnify and hold the Escrow Agent harmless from and against all costs, claims and expenses, including reasonable attorneys’ fees, incurred in 
 [EXHIBIT B] 

 connection with the performance of the Escrow Agent’s duties hereunder, except with respect to actions or omissions
taken or made by the Escrow Agent in bad faith, in disregard of this Agreement or involving negligence on the part of the Escrow Agent. 
 [EXHIBIT B] 

 EXHIBIT C 
 LIST OF PROPERTY INFORMATION 
 (a) Operating Statements. Operating statements of the Property
for the current year (“Operating Statements”); 
 (b) Tax Statements. Copies or a summary of ad valorem tax
statements relating to the Property for the current year or other current tax period (if available); 
 (c) Leases. Copies of all
leases and license agreements, and any and all subleases currently in effect pertaining to the Property 
 (d) Service Contracts. A
list of and copies of any and all service contracts affecting the Property (“Service Contracts”); 
 (e) Maintenance
Records. All available maintenance work orders for the current year; 
 (f) List of Capital Improvements. A list of all capital
improvements known to Seller and performed on the Property prior to the date hereof; 
 (g) Reports. Any environmental, soil,
structural engineering, drainage and other physical inspection reports, assessments, audits and surveys related to the Property; 
 (h)
Plans and Specifications. All construction plans and specifications relating to the original development of the Property; 
 (i)
Insurance. Copies of Seller’s certificates of insurance for the Property and any notices received from insurance carriers; 
 (j)
Proceedings. Copies of any documents or materials (except for privileged documents) relating to any litigation, investigation, condemnation, or proceeding of any kind pending or threatened affecting any of the Property or the ability of
Seller to consummate the transaction contemplated by this Agreement; 
 (k) Existing Title and Survey Documents. Copy of Seller’s
existing title insurance policy, any existing surveys of the Property, any right of way agreements or easement agreements and a copy of the existing mortgage affecting the Property; 
 (l) Architectural and Engineering Records. Copies of: any and all elevator inspection certificates and reports; physical condition reports;
mechanical and electrical inspection reports; geotechnical reports; warranties (roof, mechanical equipment, etc.); building permits and certificates of occupancy; any structural and engineering studies prepared since original construction; ADA
surveys and reports; notices of any violations of building or fire codes; maintenance logs for major equipment; and plans for any rooftop antenna installations; 
 (m) Accounting. Copies of the following items to the extent applicable to the Property: fixed asset and accumulated depreciation schedules; budgets for the current and prior years with supporting assumptions;
operating statements for the current year; general ledger for the current and prior years; 
 (n) Land/Development Records. Copies of:
any easements, CCRs or other recorded documents affecting the Property, and any unrecorded agreements to which Purchaser would be subject post-closing; all agreements with or applications to any governmental authority relating to zoning, use,
development, subdivision or planning of the Property; and information relating to the availability and location of utilities; 
 [EXHIBIT C]

 (o) Environmental Records. All Phase One / Phase Two Environmental Assessments for the Property,
asbestos audits of the Property, environmental reports related to the Property; and any notices from or to any governmental authority regarding Hazardous Materials on or relating to the Property; 
 (p) Loan Documents. Copies of all documents evidencing, securing or otherwise effecting the Property, including, without limitation, collateral
assignments, control agreements, and a list of all impound, holdback and reserve accounts used in connection with such loan; and 
 (q)
Other. Copies of any written notices from any governmental agencies regarding the Property; any and all appraisals performed with respect to the Property, and such other documents or materials concerning the Property as may be reasonably
requested by Purchaser. 
 [EXHIBIT C] 

 EXHIBIT D 
 GROUND LESSOR ESTOPPEL CERTIFICATE 
  

	To:	BioMed Realty, L.P. 

 17140 Bernardo Center Drive, Suite
222 
 San Diego, CA 92128 
 Attention: Mr. Gary A. Kreitzer 
 NPS Pharmaceuticals, Inc. 
 383 Colorow Drive 
 Salt Lake City, Utah 84108

 Attn: Office of General Counsel 
 LandAmerica Commercial Services 
 750 B. Street, #3000 
 San Diego, California 92101 
 Attn: Kathy Leicht 
  

	Re:	Property Address: 383 Colorow Drive, Salt Lake City, Utah (the “Property”) 

 NPS Pharmaceuticals, Inc., a Delaware corporation (“Lessee”) has entered into that certain Agreement for Purchase and Sale, dated
December 20, 2005, by and between Lessee and BioMed Realty, L.P., a Maryland limited partnership (the “Purchaser”) whereby Purchaser shall acquire a fee interest in the Property. 
 With the knowledge and understanding that Purchaser will be relying on the statements contained herein in acquiring the Property, as of the date hereof,
The University of Utah (“Ground Lessor”) hereby certifies to Purchaser as follows: 
  

	1.	Ground Lessor is the lessor at the Property under that certain Ground Lease (the “Lease”) dated December 10, 2003; the Lease has not been cancelled, modified,
assigned, extended or amended and there are no other agreements, written or oral, affecting or relating to Ground Lessor’s lease of the Land as described on Exhibit A attached hereto (the “Land”), together with all
improvements and fixtures located on the Land (the “Improvements”). 

  

	2.	Lessee has full possession of the approximately 93,650 rentable square foot, three-story laboratory and office building located on the Land. 

  

	3.	Ground Lessor has not assigned the Lease,
except:                                       
             . The Lease, subject to any rights of extension, terminates on
                            . 

  

	4.	All base rent, rent escalations and additional rent under the Lease has been paid through
                    , 20            . There is no prepaid rent, except
$                    , and the amount of security deposit is $            .
Lessee currently has no right to any future rent abatement under the Lease,
except:                                 . 

  

	5.	Base rent is currently payable in the amount of $                    per
month. 

  

	6.	Lessee is currently paying estimated payments of additional rent of
$                    per month on account of real estate taxes, insurance, and common area maintenance expenses. 

 [EXHIBIT D] 

	7.	To the best of Ground Lessor’s knowledge, Lessee has not assigned the Lease or sublet any part of the Land or the Improvements and does not hold the Land or the Improvements
under an assignment or sublease, except                    . 

  

	8.	The Lease is in full force and effect, free from default and free from any event which could become a default under the Lease and Ground Lessor has no claims against the Lessee, and
there are no disputes with the Lessee. 

  

	9.	Ground Lessor has received no notice of prior sale, transfer or assignment, hypothecation or pledge of the Lease or of the rents payable thereunder, except
                    . 

  

	10.	Ground Lessor has waived its right to purchase the Property pursuant to that certain Waiver dated
[                        ], between Ground Lessor and Lessee. 

  

	11.	To the best of Ground Lessor’s knowledge, no hazardous wastes have been generated, treated, stored, or disposed of by or on behalf of Ground Lessor or Lessee on the Land or the
Improvements in violation of any environmental laws. 

  

	12.	Ground Lessor hereby consents to the assignment of Lessee’s rights under the Lease to BMR-383 Colorow Drive LLC, a Delaware limited liability company. 

The undersigned has executed this Estoppel Certificate with the knowledge and understanding that BioMed Realty, L.P., or its assignee, is acquiring the Property in
reliance on this Estoppel Certificate and that the undersigned will be bound by this Estoppel Certificate. The statements contained herein may be relied upon by BioMed Realty, L.P., BMR-383 Colorow Drive LLC, BioMed Realty Trust, Inc., NPS
Pharmaceuticals, Inc., and LandAmerica Commercial Services, and any mortgagee of the Property and their respective successors and assigns. 
  

			
	 Dated this                     day of
                    , 2005.

		  	

  
  

			
	______________________________________________________________
		
	 By
	 	  

	Name:	 	  

	 Title:
	 	  

 [EXHIBIT D] 

 EXHIBIT E 
 SELLER ESTOPPEL CERTIFICATE 
  

	To:	BioMed Realty, L.P. 

 17140 Bernardo Center Drive, Suite
222 
 San Diego, CA 92128 
 Attention: Mr. Gary A. Kreitzer 
 LandAmerica Commercial Services 
 750 B. Street, #3000 
 San Diego, California
92101 
 Attn: Kathy Leicht 
  

	Re:	Property Address: 383 Colorow Drive, Salt Lake City, Utah (the “Property”) 

 NPS Pharmaceuticals, Inc. (“Seller”) has entered into that certain Agreement for Purchase and Sale, dated December 20, 2005, by and
between Seller and BioMed Realty, L.P. (the “Purchaser”) whereby Purchaser shall acquire a fee interest in the Property. 
 With the knowledge and understanding that Purchaser will be relying on the statements contained herein in acquiring the Property, as of the date hereof, Seller hereby certifies to Purchaser as follows: 
  

	1.	Seller is the lessee at the Property under that certain Ground Lease (the “Lease”), by and between Seller, as lessee, and The University of Utah (“Ground
Lessor”), as lessor, dated December 10, 2003; the Lease has not been cancelled, modified, assigned, extended or amended and there are no other agreements, written or oral, affecting or relating to Seller’s lease of the Land as
described on Exhibit A attached hereto (the “Land”), together with all improvements and fixtures located on the Land (the “Improvements”). 

  

	2.	Seller has full possession of the approximately 93,650 rentable square foot, three-story laboratory and office building located on the Land. 

  

	3.	To the best of Seller’s knowledge, Ground Lessor has not assigned the Lease,
except:                                . The Lease, subject to any rights of
extension, terminates on
                                        
    . 

  

	4.	All base rent, rent escalations and additional rent under the Lease has been paid through
                        , 20    . There is no prepaid rent, except
$                    , and the amount of security deposit is
$                    . Lessee currently has no right to any future rent abatement under the Lease,
except:                                       
                                 . 

  

	5.	Base rent is currently payable in the amount of $                    per
month. 

  

	6.	Lessee is currently paying estimated payments of additional rent of
$                    per month on account of real estate taxes, insurance, and common area maintenance expenses. 

  

	7.	Seller has not assigned the Lease or sublet any part of the Land or the Improvements and does not hold the Land or the Improvements under an assignment or sublease,
except                                    .

  

	8.	The Lease is in full force and effect, free from default and free from any event which could become a default under the Lease and Seller has no claims against the Ground Lessor, and
there are no disputes with the Ground Lessor. 

 [EXHIBIT E] 

	9.	To the best of Seller’s knowledge, Ground Lessor has received no notice of prior sale, transfer or assignment, hypothecation or pledge of the Lease or of the rents payable
thereunder, except                     . 

  

	10.	Ground Lessor has waived its right to purchase the Property pursuant to that certain Waiver dated
[                                    ], between Ground Lessor
and Lessee. 

  

	11.	To the best of Seller’s knowledge, no hazardous wastes have been generated, treated, stored, or disposed of by or on behalf of Ground Lessor or Seller on the Land or the
Improvements in violation of any environmental laws. 

 The undersigned has executed this Estoppel Certificate with the knowledge and
understanding that BioMed Realty, L.P., or its assignee, is acquiring the Property in reliance on this Estoppel Certificate and that the undersigned will be bound by this Estoppel Certificate. The statements contained herein may be relied upon by
BioMed Realty, L.P., BMR-383 Colorow Drive LLC, BioMed Realty Trust, Inc. and LandAmerica Commercial Services, and any mortgagee of the Property and their respective successors and assigns. 
 Dated this
                        day of             , 2005.

  

			
	 NPS PHARMACEUTICALS, INC.,
 a Delaware corporation

		
	By	 	  

	Name:	 	
	Title:	 	

 [EXHIBIT E] 

 EXHIBIT F 
 SURVEY CERTIFICATION 
 I,
[                        ], a registered land surveyor, do hereby certify to BioMed Realty, L.P., BioMed Realty Trust,
Inc., BMR-383 Colorow Drive LLC and LandAmerica Commercial Services, and their respective successors and assigns, that the accompanying plat of survey represents a true and accurate survey made by me of the following described property (the
“Property”) on the             day of
                                    , 2005: 
  
 I further certify that: 
 (i) This map or plat and the survey on which it is based were made in accordance with laws regulating surveying in the State of Utah, and with the
“Minimum Standard Detail Requirements for ALTA/ACSM Land Title Surveys,” jointly established and adopted by American Land Title Association (“ALTA”) and American Congress on Surveying and Mapping (“ACSM”)
in 1999 and includes 1, 2, 3, 4, 6, 7a, 7b1, 7c, 8, 9, 10, 11(a), 13, 14 and 16 in Table A contained therein. Pursuant to the Accuracy Standards as adopted by ALTA, National Society of Professional Surveyors, and ACSM and in effect on the date of
this certification, undersigned further certifies that proper field procedures, instrumentation, and adequate survey personnel were employed in order to achieve results comparable to those outlined in the “Minimum Angle, Distance, and Closure
Requirements for Survey Measurements Which Control Land Boundaries for ALTA/ACSM Land Title Surveys”; 
 (ii) That said survey accurately
shows the location of all buildings, structures and other improvements situated on the                     acre tract known as 383 Colorow
Drive, Salt Lake City, Utah; 
 (iii) There are no party walls included in any buildings, structures, or other improvements on the Property;

 (iv) Except as shown, there are no encroachments on adjoining premises, streets, or alleys by any of the buildings, structures, or other
improvements on the Property; 
 (v) Except as shown, there are no encroachments on the Property by any buildings, structures, or other
improvements located on adjoining premises; 
 (vi) Except as shown, there are no encroachments on the Property by any buildings, structures
or other improvements across set back, side yard and rear yard lines shown on the recorded plat or set forth in the applicable zoning ordinance which were provided by the County of Salt Lake; 
 (vii) Said described property is located within an area having a Zone Designation of
                    [(describe zone designation)] by the Federal Emergency Management Agency (FEMA) on Flood Insurance Rate Map No.
                    , with a date of identification of
                                        
        , for Community No.                             ,
in County of Salt Lake, State of Utah, which is the current Flood Insurance Rate Map for the community in which said premises is situated; 
 (viii) That the record description of the Property forms a mathematically closed figure; 
 (ix) That the Property has access to a
dedicated public street or streets known as
                                        
                    ; 
 [EXHIBIT F]

 (x) The total number of striped parking spaces on the subject property is
                        , including
                designated handicap spaces; and 
 (xi) That the undersigned has received and examined a copy of title commitment number             issued by
                                with an effective date of
                        and that all easements, covenants and restrictions referenced in said title commitment or apparent
from a physical inspection of the site or otherwise known to me have been plotted hereon or otherwise noted as to their effect on the subject property. 
 [LICENSE NUMBER AND SEAL] 
  

	
	  

	[NAME OF SURVEYOR]

 [Insert Proper Acknowledgment] 
 [EXHIBIT F] 

 EXHIBIT G 
 FORM OF DEED 
 When recorded, return to 
 (and send tax notices to): 
 BMR-383 COLOROW DRIVE LLC 
 17140 Bernardo Center Drive, Suite 222 
 San Diego, California 92128 
 Attn: Gary A. Kreitzer 
 Tax Parcel ID No.:
                         

 SPECIAL WARRANTY DEED 
 For Ten
Dollars ($10.00) and other good and valuable consideration, the adequacy and receipt of which are hereby acknowledged, NPS PHARMACEUTICALS, INC., a Delaware corporation (“Grantor”), whose address is 383 Colorow Drive, Salt Lake
City, Utah, 84108, hereby sells, conveys, and warrants against all claiming by, through, or under, Grantor to BMR-383 COLOROW DRIVE LLC, a Delaware limited liability company (“Grantee”), whose address is 17140 Bernardo Center Drive,
Suite 222, San Diego, California 92128, the following described real property located in Salt Lake County, Utah, to wit: 
 Beginning at a
point S65o11’09”E 66.35 feet and N54o38’21”E 190.000 feet from the existing street monument at Tabby Lane and Colorow Drive and running thence N54o42’57”W 573.288 feet; thence N35o21’39”W
61.714 feet; thence N54o38’21”E 589.38 feet; thence S35o21’40”E 602.601 feet; thence S54o38’21”W 399.379 feet to the Point Of Beginning. Contains 6.974 Acres 
 Also includes the following non-exclusive easements for purposes of access and landscaping to run concurrently with the Lease: 
 Beginning at a point S65o11’09”E 66.35 feet from the existing street monument at Tabby Lane and Colorow Drive and running thence
N35o21’39”W 540.887 feet; thence S54o42’57”E 573.288 feet; thence S54o38’21”W 190.000 feet to the Point of Beginning. 
 Contains 1.180 Acres 
 Beginning at a point S65o11’09”E 66.35 feet and
N54o38’21”E 589.379 feet from the existing street monument at Tabby Lane and Colorow Drive and running thence N35o21’40”W 602.601 feet; thence S46o58’28”E 615.196 feet; thence S54o38’21”W
123.845 feet to the Point of Beginning. 
 Contains 0.857 Acres 
 The Basis of Bearing for these parcels is the record bearing of N35o21’39”W along the center line of Colorow Drive between the existing street monuments at Tabby Lane and Wakara Drive. 
 [EXHIBIT G] 

 Grantor has executed this Special Warranty Deed in favor of Grantee effective this
            day of
                                        ,
2005. 
  

					
	 GRANTOR:
	 	NPS PHARMACEUTICALS, INC.,
		 	 a Delaware corporation

			
		 	 By
	 	  

		 	 Name:
	 	
		 	 Title:
	 	

 [EXHIBIT G] 

	State	of
                                 ) 

                                      : ss. 

 

	County	of
                                 ) 

 On the         day of
                    , 20    , before me, the undersigned notary, personally appeared
                            , the
                                        
    of NPS Pharmaceuticals, Inc., a Delaware corporation who duly acknowledged before me that he signed the foregoing instrument for and on behalf of said corporation having all requisite authority to so act. 
  

			
		 	  

	My commission expires:	 	Notary Public
	___________________	 	Residing at:
                                        
                                        
                                        
                
		
	[Seal]	 	

 [EXHIBIT G] 

 EXHIBIT H 
 BILL OF SALE AND ASSIGNMENT OF GROUND LEASE AND CONTRACTS 
 This instrument is executed and delivered
as of the 22nd day of December, 2005 (“Assignment”) pursuant to that certain Agreement of Purchase
and Sale (“Agreement”) dated December 20, 2005, by and between NPS Pharmaceuticals, Inc., a Delaware corporation (“Seller”), and BMR-383 Colorow Drive LLC, a Delaware limited liability company (as successor in
interest to BioMed Realty, L.P., a Maryland limited partnership, “Purchaser”), covering an approximately 93,650 rentable square foot, three-story, laboratory and office building located at 383 Colorow Drive, Salt Lake City, Utah
84108 (the “Building”) and Seller’s leasehold interest in the land as described on Exhibit A attached hereto (the “Land”) pursuant to that certain Ground Lease (as defined below), together with all
improvements and fixtures located on the Land (the “Improvements” and, collectively with the Building and the Land, the “Real Property”), except for those items listed in Section 1.1(c) of the Agreement and
Section 1(b) below, the ownership of which will be retained by Seller. 
 1. Sale of Personalty. For good and valuable
consideration, Seller hereby sells, transfers, sets over and conveys to Purchaser the following: 
 (a) Intangible Property. The
following property to the extent assignable: All, right, title and interest of Seller, if any, in and to: (1) all intangible personal property now or hereafter used exclusively in connection with the operation, ownership, maintenance,
management, or occupancy of the Real Property; (2) the plans and specifications for the Improvements; (3) warranties, indemnities, applications, permits, approvals and licenses pertaining to the Real Property; and (4) insurance
proceeds and condemnation awards or claims thereto to the extent provided in the Agreement. 
 (b) Improvements. The following
property to the extent assignable: All, right, title and interest of Seller, if any, in and to all Improvements and fixtures located on the Land, except for tangible personal property and other trade fixtures and equipment owned by Seller, which
shall not be part of the Improvements or this Assignment and shall remain the property of Seller; provided, however, all electrical, plumbing, HVAC, life safety systems, attached laboratory benches, autoclaves, climatized rooms, and
gas and liquid distribution systems, shall be included as part of the Improvements and assigned to Purchaser hereunder. 
 2. Assignment
of Leases, Service Contracts and Commission Agreements. For good and valuable consideration, Seller hereby assigns, transfers, sets over and conveys to Purchaser, and Purchaser hereby accepts the following as of the Closing Date (as defined in
the Agreement): 
 (a) Ground Lease. All of Seller’s right, title and interest in and to that certain Ground Lease dated
December 10, 2003 between Seller, as lessee, and the University of Utah, as ground lessor (the “Ground Lease”) covering the Land and the Improvements, as set forth on Exhibit B attached hereto, and, subject to the terms
and conditions of the Agreement, Purchaser hereby assumes all of the lessee’s obligations under the Ground Lease arising from and after the Closing Date; and 
 (b) Service Contracts. The service contracts described in Exhibit C attached hereto (the “Service Contracts”), and, subject to the terms and conditions of the Agreement, Purchaser hereby
assumes the obligations of Seller under such Service Contracts arising from and after the Closing Date. 
 3. Indemnification. Seller
shall defend, indemnify and hold harmless Purchaser from and against any liability, damages, causes of action, expenses, and attorneys’ fees incurred by Purchaser by reason of the failure of Seller to fulfill, perform, discharge, and observe
its obligations with respect to the Ground Lease or the Service Contracts arising prior to the Closing Date. Purchaser shall defend, indemnify and hold harmless Seller from and against any liability, damages, causes of action, expenses, 

[EXHIBIT H] 

 and attorneys’ fees incurred by Seller by reason of the failure of Purchaser to fulfill, perform, discharge, and
observe its obligations with respect to the Ground Lease and the Service Contracts arising on or after the Closing Date. 
 4. Successors
and Assigns. This Assignment is binding upon, and shall inure to the benefit of Seller and Purchaser and their respective heirs, legal representatives, successors and assigns. 
 5. Counterparts. This Assignment may be executed in counterparts, each of which shall be deemed an original, but all of which, together, shall
constitute one and the same instrument. To facilitate execution of this Assignment, the parties may execute and exchange by telephone facsimile counterparts of the signature pages. 
 6. Governing Law. This Assignment shall be governed by, interpreted under, and construed and enforceable in accordance with, the laws of the State
of Utah. 
 7. Attorneys’ Fees. Should either party employ attorneys to enforce any of the provisions hereof, the non-prevailing
party agrees to pay the prevailing party all reasonable costs, charges, and expenses, including reasonable attorneys’ fees, expended or incurred by the prevailing party in connection therewith. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
 [EXHIBIT H] 

 IN WITNESS WHEREOF, the undersigned have caused this Bill of Sale and Assignment of Leases and Contracts
to be executed as of the date written above. 
  

							
	SELLER:	 	PURCHASER:
		
	 NPS PHARMACEUTICALS, INC., 
 a Delaware corporation
	 	 BMR-383 COLOROW DRIVE LLC, 
 a Delaware limited liability company

				
		 		 	 By:
	 	 BioMed Realty, L.P.,
 a Maryland limited partnership

				
	 By
	 	  
	 	 By
	 	  

	 Name:
	 		 	 Name:
	 	 Gary A. Kreitzer

	 Title:
	 		 	 Title:
	 	 Executive Vice President

 [EXHIBIT H] 

 EXHIBIT I 
 CLOSING CERTIFICATE 
 THIS CERTIFICATE is made, executed and delivered as of this 22nd day of December, 2005, pursuant to that certain Agreement of Purchase and Sale (“Agreement”) dated
December 20, 2005, by and between NPS Pharmaceuticals, Inc., a Delaware corporation (“Seller”), and BioMed Realty, L.P., a Maryland limited partnership (“Purchaser”), pursuant to which the Seller is selling to
Purchaser certain property located at 383 Colorow Drive, Salt Lake City, Utah. All capitalized words used herein and not otherwise defined herein shall have the meaning ascribed thereto in the Agreement. 
 CERTIFICATE 
 Seller, in accordance with
Section 7.2(c) of the Agreement, hereby certifies to Purchaser as of Closing that: 
 (a) All representations and warranties of Seller
contained in the Agreement are true and correct on the date set forth above with the same effect as if such were made on and as of such date; 
 (b) Schedule 1 attached hereto is a true and correct list of the Service Contracts to be assumed by Purchaser; 
 (c) To
Seller’s knowledge, there are no uncured defaults existing under the Service Contracts or any agreement to be assigned to, or obligation to be assumed by, Purchaser under the Agreement; 
 (d) The Ground Lease is in full force and effect and no default, dispute or controversy exists under the Ground Lease. Seller has not received any notice
of any default or breach on the part of lessee under the Ground Lease, nor, to Seller’s knowledge, does there exist any such default or breach on the part of lessee; and 
 (e) To Seller’s knowledge, the information provided in the Property Information continues to be true and accurate in all material respects.

 [Signature Page Follows] 
 [EXHIBIT I] 

 IN WITNESS WHEREOF, Seller has executed this Certificate, effective as of the date and year first above
written. 
  

			
	 NPS PHARMACEUTICALS, INC.,
 a Delaware corporation

		
	 By
	 	  

	 Name:
	 	
	 Title:
	 	

 [EXHIBIT I] 

 EXHIBIT J 
 NPS LEASE 
 [EXHIBIT J] 

 EXHIBIT K 
 NOTICE ADDRESSES 
  

							
	To Seller at:	 	To Purchaser at:
		
	 NPS Pharmaceuticals, Inc.
 Attn: Morgan
Brown 
 383 Colorow Drive
 Salt Lake City, Utah
84108
	 	 BioMed Realty, L.P.
 Attn: Gary A.
Kreitzer
 17140 Bernardo Center Drive, Suite 222
 San Diego, CA
92128

				
	 Telephone:
 Facsimile:
 Email:
	 	 (801) 583-4939
 (801) 583-4961
 mbrown@npsp.com
	 	 Telephone:
 Facsimile:
 E-mail:
	 	 858.485.9840
 858.485.9843
 gkreitzer@BioMedRealty.com

		 		 	
		
	with a copy to:	 	with a copy to:
		
	 Office of General Counsel
 NPS
Pharmaceuticals, Inc.
 383 Colorow Drive
 Salt Lake City, Utah
84108
	 	 Latham & Watkins
 Attn: Finance
Department Notice
 (BioMed–383 Colorow Drive – SJL)
 600 West Broadway, Suite 1800
 San Diego, CA 92101

				
	 Telephone:
 Facsimile:
	 	 (801) 583-4939
 (801) 583-4961]
	 	 Telephone:
 Facsimile:
	 	 619-236-1234
 619-696-7419

 [EXHIBIT K]

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