Document:

IntelGenx Technologies Corp.: Exhibit 10.34 - Filed by newsfilecorp.com

Exhibit 10.34

CONFIDENTIAL TREATMENT
REQUESTED 

Redacted portions are indicated by [*****]

Redacted portions filed separately with the
SEC pursuant to a confidential treatment request 

Draft: 7 December 2007 (6pm Irish)

LICENSE AND DEVELOPMENT
AGREEMENT 

This Agreement is made the 10th day of December 2007, effective as
of May 1, 2007 

	BETWEEN: 	INTELGENX CORP
      , a corporation having a place of business at 6425 Abrams, Ville St-Laurent, Quebec, H4S
      1X9 
	  	         
                         
                         
                         
             (hereinafter "INTELGENX"); 
	  	  
	AND: 
       	AZUR PHARMA
      INTERNATIONAL II LTD, a Bermudacompany with offices located
      at Clarendon House, 2 Church Street, Hamilton HM
      11, Bermuda 
	  	         
                         
                         
                         
                         
                 (hereinafter
      "AZUR")
  

WHEREAS INTELGENX
possesses specialized know-how and expertise in the development and
manufacturing of tablets for pharmaceutical and nutritional supplement
applications involving its proprietary tabletting technology (such technology
hereinafter being referred to as the "INTELGENX
Technology"); 

WHEREAS AZUR
possesses expertise in the development, marketing, and distribution of prenatal
vitamin supplement products; 

WHEREAS AZUR
wishes INTELGENX to provide certain services aimed at developing an oral
controlled-release formulation containing a combination of prenatal vitamins and
minerals (as defined hereinafter) and INTELGENX is interested in carrying out
such services; 

WHEREAS AZUR has
prior to the execution of this Agreement paid to INTELGENX the sum of US$[*****]
in consideration of work carried out on the Project (as defined below) prior to
such date of execution, as the parties hereby acknowledge; 

NOW THEREFORE, in
consideration of the premises and mutual covenants and conditions set forth
herein, the Parties agree as follows: 

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	Article
      1. 	Definitions 

When used in this Agreement, each of the
following terms shall have the meanings set out in this Article 1. 

	 	1.01 	"Active Ingredient",
      or "Active Ingredients" means one or all of the active ingredients as further specified
      in Schedule "A", meeting the specifications of the United States
      Pharmacopoeia or of other mutually agreed references or standards.
    
	 	 	 
	 	1.02 	"Affiliate" means, with respect to any Person that is an entity, any
      other Person which directly or indirectly, through one or more
      intermediaries, controls, or is controlled by, or is under common control
      with, a specified Person. The term "control" shall mean the possession,
      directly or indirectly, of the power to direct or cause the direction of
      the management and policies of a Person, whether through the ownership of
      voting stock or other securities, as manager, trustee or similar capacity,
      by contract or otherwise. 
	 	 	 
	 	1.03 	"Agreement" means this Agreement, together with all schedules hereto,
      which shall form an integral part hereof. 
	 	 	 
	 	1.04 	"Background Intellectual
      Property" means, with respect to a given
      Party, such Intellectual Property Rights that are owned or developed by
      such Party or by any of its Affiliates either prior to, or independent of,
      this Agreement. 
	 	 	 
	 	1.05 	"Confidential
      Information" means all information disclosed
      (whether in writing, orally or by another means and whether directly or
      indirectly) by any Party whether before or after the date of this
      Agreement that is either designated as confidential or by its nature,
      should reasonably be considered as confidential, including without
      limitation, information relating to any Party’s (or any of its
      Affiliates’, customers’, clients’, agents’ or employees’) operations,
      processes, plans or intentions, product information, know-how, design
      rights, trade secrets, market opportunities, business development programs
      and business affairs but does not include information which (i) is or
      becomes generally available to the public other than as a result of a
      disclosure by the recipient party, (ii) was within the recipient party’s
      possession on a non-confidential basis prior to its being provided to the
      recipient party by or on behalf of the disclosing party, as evidenced by
      written records antedating the disclosure by the disclosing party to the
      recipient party, (iii) is or becomes available to the recipient party on a
      non-confidential basis from a source other than the disclosing party,
      which source, to the knowledge of the recipient party, is not prohibited
      from disclosing such information by a legal, contractual or fiduciary
      obligation, or (iv) is independently developed by the recipient party
      without the use of the disclosing party’s information. 
	 	 	 
	 	1.06 	"Development
      Plan" means the development plan attached
      hereto as Schedule "B", which sets forth the Development Work, the
      Specifications as well as the milestones for the Project, as amended from
      time to time in writing between the Parties.

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	 	1.07 	"Development
      Work" means the services that have been or
      will be carried out under this Agreement by INTELGENX as set forth in the
      Development Plan. 
	 	 	 	 
	 	1.08 	"Effective Date" means May 1, 2007. 
	 	 	 	 
	 	1.09 	"Foreground
      Intellectual Property" means any Intellectual
      Property Rights developed jointly or by either Party as a result of the
      performance of its responsibilities under this Agreement, and for the
      avoidance of doubt includes such rights developed on or after the
      Effective Date but prior to the date of execution of this
      Agreement. 
	 	 	 	 
	 	1.10 	"Intellectual
      Property Right" means any right in or to a
      United States, Canadian or foreign patent, patent application, utility
      model, inventor’s certificate, invention (whether or not patentable),
      improvement, trade secret, know-how, proprietary information, technology,
      copyright, trade-mark, trade-name, service mark, industrial design or
      other intellectual property right of any kind, whether registered or
      not. 
	 	 	 	 
	 	1.11 	“License” means together the licenses granted by INTELGENX to AZUR
      pursuant to Sections 8.01, 8.02 and 8.03. 
	 	 	 	 
	 	1.12 	“LOI” means
      the Letter of Intent entered into between Intelgenx Corp., Azur Pharma
      Ltd., and Keata Pharma Inc. dated April 20th
      , 2007. 
	 	 	 	 
	 	1.13 	“Net
      Sales” shall, subject to the provisions of the
      second paragraph of Section 5.04, mean in the case of Product sold by
      AZUR, or by a permitted sub-licensee, the aggregate gross in-market sales
      proceeds billed for the Product by AZUR, or by a permitted sub-licensee,
      as the case may be, in accordance with generally accepted accounting
      principles, less the following: 
	 	 	 	 
	 		1.13.1 	trade, cash or quantity discounts, allowances,
      adjustments and rejections; 
	 	 	 	 
	 		1.13.2 	rebates, recalls (other than where the Product is
      replaced without charge) and returns; 
	 	 	 	 
	 		1.13.3 	price reductions or rebates imposed by governmental
      or regulatory authorities; 
	 	 	 	 
	 		1.13.4 	sales, excise, turnover, inventory, value-added and
      similar taxes assessed on the royalty-bearing sale of such Product, but
      not including any income tax paid by or assessed against AZUR or a
      permitted sub-licensee; 
	 	 	 	 
	 		1.13.5 	transportation, importation, shipping, insurance and
      other handling expenses directly chargeable to the royalty-bearing sale of
      the Product, but only to the extent that such expenses are separately
      delineated in the applicable invoices; 
	 	 	 	 
	 		1.13.6 	chargebacks granted to drug wholesalers or their
      customers in cases where there are not direct shipments to such customers
      by AZUR or its permitted sublicense; and 

- 4 - 

			1.13.7 	the portion of any management fees paid during
      the relevant time period to group purchasing
      organisations relating specifically to the royalty bearing sale of
      the Product contracted with such
      organisations 
	 	  	  	  
				Any discretionary rebates,
      discounts or adjustments shall be commercially reasonable and consistent with standard industry
      practices. 
	 	  	  	  
		1.14 	"Party" or "Parties" means INTELGENX or AZUR,
      or INTELGENX and AZUR, as the context
      requires. 
	 	  	  	  
		1.15 	“Permitted Products” means vitamins
      and mineral nutritional supplements in mono-layer
      tablets. 
	 	  	  	  
		1.16 	"Person" means an individual,
      corporation, partnership, joint venture, trust, unincorporated organization, government or any agency or
      instrumentality thereof or any other entity
      recognized by law. 
	 	  	  	  
		1.17 	"Product" means the
      controlled-release tablets to be developed by INTELGENX hereunder in accordance with the Specifications, containing the
      Active Ingredients. 
	 	  	  	  
	 	1.18 	"Project" has the meaning ascribed
      thereto in Section 2.01 hereof. 
	 	  	  	  
		1.19 	"Specifications" means the written
      specifications mutually agreed upon between the Parties for the Product and set forth in the Development Plan,
      as amended from time to time in writing between
      the Parties. 
	 	  	  	  
	 	1.20 	"Term" has the meaning ascribed
      thereto in Section 11.01 hereof. 
	 	  	  	  
	 	1.21 	“Territory”
      means the United States of America.
  
	 	  	  	  
	Article 2. 	Project 
	 	  	  	  
		2.01 	The project forming
      the object of this Agreement consists in INTELGENX carrying out the Development Work in order to develop the Product (the
      "Project").
      INTELGENX will perform the Development Work with all due
      skill and care, in accordance so far as
      practicable with the time lines set out in the Development Plan
      and in accordance with current Good Manufacturing
      Practices under the United States Federal Food,
      Drug and Cosmetics Act (as amended) and any other applicable laws or regulations. INTELGENX shall ensure that all
      Development Work meets the best standards in the
      industry. 
	 	  	  	  
		2.02 	AZUR hereby
      recognizes and acknowledges that INTELGENX shall be entitled to
      subcontract, in whole or in part, any of its obligations
      hereunder, with the prior written consent of AZUR,
      which shall not be unreasonably withheld; provided that INTELGENX shall remain primarily liable hereunder for any such
      subcontractor in accordance with the provisions of
      Article 7. Any such subcontractor shall agree in writing, for the benefit of AZUR, to be bound by the terms and
      conditions of this Agreement including, without
      limitation, Section 2.01. 

- 5 - 

		2.03 	AZUR and INTELGENX shall work
      together, through a team consisting of one or more
      appropriate members of senior management of each party together with
      such other employees as each party reasonably
      considers appropriate, on technical issues related
      to the Development Plan and the Product. 
	 	  	  
	Article 3.
    	Reporting
    
	 	  	  
		3.01 	INTELGENX will provide AZUR
      with INTELGENX' final report containing the results of its portion of the Development Work (the
      "Final Report")
      within two (2) weeks after completion of the
      Project. The Final Report shall contain a detailed summary of all technical data generated during the Development
      Work. Should, at any time during the Term,
      INTELGENX have reason to believe that it will be unable to deliver the Final Report within the aforementioned period
      for reasons outside of its control, it will
      immediately notify AZUR in writing of this fact, and will have an
      additional period of two (2) weeks to deliver the Final
      Report. 
	 	  	  
	Article 4.
    	Supply of Active
      Ingredients 
	 	  	  
		4.01 	INTELGENX shall acquire from a
      supplier agreed to in advance by AZUR, and upon
      terms agreed to in advance by AZUR, the necessary quantities of
      Active Ingredients in order for INTELGENX to carry
      out its portion of the Development Work and AZUR
      shall bear all reasonable third party actual costs associated therewith as invoiced and documented, including all shipping,
      handling and 
	 insurance costs.
    
	 	  	  
	Article 5.
    	 Fees 
	 	  	  
		5.01 	Fees. In consideration for the Development Work carried out by
      INTELGENX hereunder, AZUR shall pay INTELGENX the
      fees set forth in Schedule "C" hereto, in U.S.
      Dollars. The Development Work to be carried out by INTELGENX hereunder shall be invoiced to AZUR on the basis of the
      activities which have been performed for each
      milestone set forth in the Development Plan. Each invoice shall
      contain a statement certifying that the activities being
      invoiced have in fact been performed during the
      reporting period covered by the invoice. For the avoidance of doubt, INTELGENX may not invoice AZUR in excess of the
      estimated prices set forth in Schedule C (as such
      prices may be amended by agreement of the parties). 
	 	  	  
		5.02 	Credit for
      Prepayment. It is hereby acknowledged that
      AZUR has paid to INTELGENX (a) $[*****] ([*****]
      dollars) prior to the date of this Agreement, and (b) $[*****] ([*****] dollars) upon execution of this
      Agreement. Such payments shall be credited against
      the fees and any other payments due from AZUR to INTELGENX until exhausted. 
	 	  	  
		5.03 	INTELGENX will carry out the
      Project on a fixed price basis as set forth in Schedule "C". Notwithstanding the foregoing, the Parties agree
      that the development costs provided in the cost
      estimate attached hereto as Schedule "C" represent INTELGENX’ best estimate based on projected
      completion times for INTELGENX portion of the Development Work and price
      quotes for outsourced activities provided by subcontractors which may be
      subject to change. If, however, INTELGENX determines that the actual hours
      necessary to complete a given milestone or the Project as a whole will
      exceed the projected hours by more than 10%, INTELGENX shall notify AZUR
      in writing of same and AZUR shall have a period of ten (10) days to notify
      INTELGENX in writing whether it wishes to proceed or not with the Project
      on the basis of INTELGENX’ estimated increase of fees, it being
      understood, for greater certainty, that the Project will terminate should
      AZUR reject the increased estimate as specified above.

- 6 - 

	 	5.04 	Royalty. In
      consideration of the grant of the License, AZUR shall pay to INTELGENX a
      royalty of [*****]% ([*****] percent.) of Net Sales of the Product by
      AZUR, except where the patent does not grant within 3 years of the date of
      this Agreement or is denied in that period, in such unlikely circumstances
      the rate shall be [*****]% ([*****] percent) of Net Sales of the Product
      as a know how license. 
	 	 	 	 
	 		Where the product is marketed and
      distributed as a combination product with a DHA oil capsule the royalty
      will be calculated based on the ratio of the sales price of the product as
      single capsule to the sales price of the combination product and DHA oil
      capsule. 
	 	 	 	 
	 		Royalties shall be payable quarterly within
      45 days of the end of the calendar quarter in which they were
      earned. 
	 	 	 	 
	 	5.05 	Interest.
      Interest shall be payable on overdue amounts at the rate of 8% per annum.
      Interest shall be computed on a daily basis from the due date and
      compounded monthly on the last day of each 30-day period following the
      date of invoice. 
	 	 	 	 
	 	5.06 	Sales Taxes. AZUR shall pay all applicable federal, provincial or local
      sales, goods and services, excise and any other applicable taxes to the
      extent that such taxes are applicable to the supply of goods and/or
      services by INTELGENX to AZUR hereunder, for the avoidance of doubt
      excluding any taxes relating to INTELGENX's or any of its subcontractors'
      income. 
	 	 	 	 
	 	5.07 	Other Taxes.
      If AZUR is required by law to pay or withhold any income or other taxes on
      behalf of INTELGENX with respect to any monies payable to INTELGENX under
      this Agreement: 
	 	 	 	 
	 		5.07.1 	AZUR shall deduct them from the amount of such monies
      due; 
	 	 	 	 
	 		5.07.2 	any such tax required to be paid or withheld shall be
      an expense of and borne solely by INTELGENX; 
	 	 	 	 
	 		5.07.3 	AZUR shall promptly provide INTELGENX with a
      certificate or other documentary evidence to enable INTELGENX to support a
      claim for a refund or a foreign tax credit.

- 7 - 

		5.08 	Double Tax
      Co-operation. INTELGENX and AZUR agree to
      co-operate in all respects necessary to take
      advantage of any double taxation agreements or similar agreements as may, from time to time, be available in order to
      enable AZUR to make such payments to INTELGENX
      without any deduction or withholding. 
	 	  	  	  
		5.09 	Currency. All payments required
      hereunder shall be made in US Dollars by wire transfer to such account as the receiving party may from time
      to time specify. 
	 	  	  	  
		5.10 	No Other
      Payments. For the avoidance of doubt, the
      Parties agree that except as expressly set out
      herein, AZUR shall not be liable for any payment to INTELGENX whatsoever, including any additional license fee or milestone
      payment in respect of the exploitation of the
      INTELGENX Technology under this Agreement. 
	 	
		5.11 	Audit. INTELGENX shall have the
      right, at its own expense, for any period during which the Product is sold by AZUR hereunder and for one (1)
      year thereafter, to have an independent public
      accountant, reasonably acceptable to AZUR, audit AZUR’s financial books and records of account pertaining to Net
      Sales. All such audits shall be conducted not more
      than once per year, during normal business hours, and upon reasonable prior notice. Notwithstanding the
      foregoing, in no event shall INTELGENX have the
      right to audit any period previously audited or to audit any period ending more than two years prior to the date such audit
      is commenced. Any amounts determined pursuant to
      any such audit to have been overpaid or underpaid by AZUR shall promptly be refunded to AZUR or paid to
      INTELGENX, as applicable. In the event that any
      such audit reveals an underpayment by AZUR of more
      than five percent (5%), AZUR shall reimburse INTELGENX for the
      expense of such audit. Notwithstanding the
      foregoing, in the event that AZUR disagrees with the conclusions of any such audit, the Parties shall submit
      such dispute to the exclusive jurisdiction of the
      State of New York in accordance with Section 15.04 and no payment shall be made pursuant to this Section 5.11
      pending the outcome of such arbitration. As a
      condition to such audit, the independent public accountant selected shall execute a written agreement, reasonably
      satisfactory in form and substance to AZUR, to
      maintain in confidence all information obtained during the course of any such audit except for disclosure as necessary for
      the above purpose and all reasonable documents
      will be delivered to the auditor under these confidential terms. Additionally no auditor may be employed on
      a contingency basis. 
	 	  	  	  
	Article 6.
    	Representations and Warranties 
	 	  	  	  
	 	6.01 	 The
      Parties represent and warrant to the other that: 
	 	  	  	  
			6.01.1 	this Agreement shall
      constitute a legal, valid and binding agreement enforceable against them in accordance with its terms, and each
      Party has full right, power and authority to enter
      into and perform its obligations under this
      Agreement; and 

- 8 - 

	 		6.01.2 	the performance by each Party of any of their
      obligations hereunder shall not contravene or result in any material
      breach or default of any of the Parties under any applicable
      agreement. 
	 	 	 	 
	 	6.02 	INTELGENX represents and warrants to Azur
      that: 
	 	 	 	 
	 		6.02.1 	it is the sole owner of the INTELGENX
      Technology; 
	 	 	 	 
	 		6.02.2 	to the best of its knowledge and following reasonable
      due diligence (i) it has the right to use and exploit the INTELGENX
      Technology as contemplated hereby; (ii) there are no intellectual property
      rights of a third party that would be violated or infringed by INTELGENX
      or AZUR applying the Intellectual Property Rights in the INTELGENX
      Technology for the purpose of this Agreement or making, having made,
      importing, using, offering for sale or selling the Product; and (iii)
      INTELGENX has not been notified by a third party of any alleged
      infringement of third party intellectual property rights in connection
      with the exercise of the rights in the INTELGENX Technology; 
	 	 	 	 
	 		6.02.3 	INTELGENX has provided AZUR with a comprehensive
      infringement search with respect to the INTELGENX Technology, in the
      United States and such other countries INTELGENX has reasonably determined
      that such search should be undertaken. INTELGENX covenants that it will
      provide an update of such searches, within thirty (30) days of the first
      anniversary date of this Agreement. AZUR shall bear one half of the
      vouched-for cost of such search, up to a maximum of US$[*****];
  
	 	 	 	 
	 		6.02.4 	to the best of its knowledge and following reasonable
      due diligence, the INTELGENX Technology is valid and enforceable in the
      Territory. No opposition is pending to the grant of any patent application
      therein; 
	 	 	 	 
	 		6.02.5 	the Intellectual Property Rights licensed to AZUR
      under this Agreement together comprise all the Intellectual Property
      Rights which are (i) owned by, licensed to or controlled by INTELGENX and
      its Affiliates, (ii) related to proprietary tabletting technology and
      (iii) applicable to the making, using, or selling of the Products;
    
	 	 	 	 
	 		6.02.6 	without prejudice to the generality of Section
      6.01.2, INTELGENX has no obligation to Novovax Inc. or any of its
      Affiliates (together "Novovax") with respect to the INTELGENX Technology or which does or
      may prevent INTELGENX or AZUR from freely exercising their respective
      rights under this Agreement or from performing their respective
      obligations. 
	 	 	 	 
	 	6.03 	Disclaimer.
      The representations and warranties given by the Parties in accordance with
      this Article 6 and in Section 2.01 are in lieu of all other
      representations and warranties, express or implied, including, but not
      limited to, the warranties of merchantability and fitness for a particular
      purpose. Without limiting the generality of the foregoing, each Party
      expressly disclaims any responsibility for any future predictive value in reports, especially as such may relate to
      the outcome or the advisability of a development
      program for the Product. AZUR acknowledges that there can be no guarantee that the Product will, within a
      certain time period, be successfully developed
      with regard to fitness for a particular use, feasibility of manufacturing, marketability and all technical, legal and
      commercial aspects connected thereto. 

- 9 - 

	Article 7.
    	Indemnification 
	 	  	  
		7.01 	Each Party (the
      "Indemnifying Party") shall indemnify and hold harmless the other Party, its Affiliates, the directors, officers and employees or
      each of them (acting in such capacity) and any
      other Persons acting on their behalf (the "Indemnified Parties") from, against and in
      respect of any third party claim, action, demand, loss, damage or liability, any amount paid further to any judgment,
      appeal or out-of-court settlement (together with
      interest and penalties) or any amount payable on account of legal fees or disbursements or reasonable attorneys’ or
      experts’ fees and disbursements and reasonable
      costs of investigation (collectively, "Losses"), arising from any breach by the Indemnifying Party of its
      representations and warranties, any failure by the
      Indemnifying Party to perform or comply with any covenant or other
      obligation stipulated under or arising out of this
      Agreement, or any failure by the Indemnifying
      Party to perform or comply with any obligation under any applicable
      legislation. 
	 	  	  
		7.02 	INTELGENX shall indemnify
      AZUR, its Affiliates, the directors, officers and employees or each of them (acting in such capacity) and any
      other Persons acting on its behalf, from and
      against any claim by or liability to Novovax pursuant to any prior or existing agreement or arrangement between INTELGENX
      and Novovax. 
	 	  	  
		7.03 	AZUR shall indemnify and hold
      harmless INTELGENX and its directors, officers and
      employees and any other Persons acting on its behalf, from and against
      any Losses (including any claims for personal
      injury, property damage or death) arising from (i)
      use of the Product by AZUR; (ii) any clinical trials conducted in relation
      to the Product; and (iii) INTELGENX’ use of the
      Active Ingredients in accordance with the terms of
      this Agreement and the Development Plan, except to the extent that
      such Losses arise from INTELGENX' or its subcontractors'
      breach of any covenant, representation or warranty
      hereunder, or INTELGENX' gross negligence or wilful misconduct. 
	 	  	  
		7.04 	No Indirect, Punitive or
      Exemplary Damages. Without prejudice to the
      obligation of either Party to indemnify the other
      in respect of claims by or liability to a third party, neither Party shall be liable for incidental, consequential,
      punitive or exemplary damages with respect to,
      arising out of, or in connection with, this Agreement even if apprised of the likelihood of such damages occurring.
    

- 10 - 

	Article 8. 	Ownership And License Of Intellectual Property

	 	  	 	  
		8.01 	Should
      INTELGENX and AZUR jointly develop any Foreground Intellectual
      Property, such Foreground Intellectual Property shall be
      jointly owned between INTELGENX and AZUR, provided
      that: 
	 	  	 	  
			8.01.1 	INTELGENX shall grant, and hereby
      does grant, AZUR an exclusive, irrevocable, license in
      the Territory, to such jointly developed Foreground Intellectual Property (including the right to grant
      sublicenses) to make and have made (subject to
      Article 9), import, market, distribute, use, offer for sale and
      sell the Product, except that such license shall
      not be deemed to permit AZUR to develop technology
      with a third party using the Foreground Intellectual Property except as contemplated by this Agreement; and 
	 	  	 	  
			8.01.2 	INTELGENX shall be entitled to
      enter into arrangements with third parties (including,
      for greater certainty, the right to grant licenses to such third parties)
      in order to use the Foreground Intellectual
      Property (for the avoidance of doubt, including
      the INTELGENX FIP (defined below)), if applicable, with compounds
      other than the Active Ingredients and/or modify, adapt or
      improve the Foreground Intellectual Property, if
      applicable, for use with compounds other than the Active Ingredients, for the eventual manufacturing, marketing,
      distribution, offering for sale and selling of
      product other than the Product (and containing a different Active Ingredient) by INTELGENX and/or such third parties. For
      the avoidance of doubt, the Foreground
      Intellectual Property (including the INTELGENX FIP) may not be used for the manufacture, marketing, distribution,
      offering for sale or sale of Product or other
      product containing the same Active Ingredient, except with AZUR as contemplated hereby. 
	 	  	 	  
		8.02 	Should
      INTELGENX be solely responsible for developing any Foreground Intellectual Property ("INTELGENX FIP"), INTELGENX shall be the
      sole and exclusive owner of any such Foreground
      Intellectual Property, provided that INTELGENX
      shall grant, and hereby does grant, AZUR an irrevocable, exclusive
      license in the Territory (including the right to grant
      sublicenses) to the INTELGENX FIP in order for
      AZUR to make and have made (subject to Article 9), import, market, distribute, use, offer for sale and sell the Permitted
      Product. 
	 	  	 	  
		8.03 	To the
      extent the manufacturing, marketing, distribution, offering for sale and
      sale of the Product require the use or
      exploitation of certain portions of INTELGENX' Background Intellectual Property (the "INTELGENX Non-Severable Background Intellectual Property"), INTELGENX
      shall grant, and hereby grants, AZUR a limited,
      royalty-free, non-exclusive right to use such INTELGENX
      Non-Severable Background Intellectual Property,
      and to sublicense such use, solely for the purposes of distributing, offering for sale and selling the Product or
      having the Product distributed, offered for sale
      and sold for AZUR by a third party. Except for the foregoing, nothing contained herein shall provide any Party
      with any right to any Background Intellectual
      Property of any other Party. 

- 11 - 

		8.04 	Any rights granted to either
      INTELGENX or AZUR under this Article 8 shall terminate upon written notice from the other Party if that
      first-named Party takes or is required by any
      Person with proper authority to take, any of the following actions:
      (i) an assignment, composition or similar act for the
      benefit of creditors; (ii) an attachment or
      receiving of assets; (iii) the filing of a petition for bankruptcy,
      insolvency or relief of debtors or the institution of any
      proceedings relating to bankruptcy, insolvency or
      relief of debtors; (iv) committing or threatening to commit any act of bankruptcy; or (v) a winding-up, liquidation or
      dissolution of the business pursuant to an order
      of a court of competent jurisdiction. 
	 	  	  	  
	Article 9. 	Manufacturing
      Rights 
	 	  	  	  
		9.01 	Simultaneously with this
      Agreement, AZUR has entered into a supply agreement (the “Supply
      Agreement”) with Keata Pharma Inc.
      (“Keata”), as
      INTELGENX hereby acknowledges. 
	 	  	  	  
		9.02 	INTELGENX shall be responsible
      for making appropriate transfer of such of its technology to Keata as is reasonable or necessary to enable
      Keata to manufacture the Product for AZUR,
      including but not limited to the provision of appropriate documentation and visits by its employees or consultants (or
      receipt in its premises of those of Keata) to
      assist Keata with the working up and implementation of its manufacturing processes. For the avoidance of doubt, INTELGENX
      shall have no liability for Keata’s failure to
      supply Product conforming to applicable specifications, other than by reason of breach of this Article
      9. 
	 	  	  	  
		9.03 	For the avoidance of doubt, to
      the extent that Keata is not the sole supplier of the Product pursuant to the Supply Agreement (for example in the
      event of failure to supply), AZUR shall be
      entitled to make and have made the PRODUCT. For this purpose, INTELGENX shall upon request and at its own
      cost: 
	 	  	  	  
			9.03.1 	provide AZUR with any
      information necessary to give effect to AZUR’s right to make and have made the Product and INTELGENX shall provide to
      AZUR the documentation constituting the required
      material support, more particularly practical
      performance advice, shop practice, specifications as to materials to
      be used and control methods; and 
	 	  	  	  
			9.03.2 	assist AZUR with the working
      up and use of the technology and with the training of AZUR’s or its designee’s personnel to the extent which may
      reasonably be necessary in relation to the
      manufacture of the Product by AZUR or its designee. In this regard, INTELGENX will receive Azur’s or its designee’s
      scientific staff in its premises for certain
      periods, the term of which will be agreed by the Parties. 
	 	  	  	  
	Article 10. 	Confidentiality 
	 	  	  	  
		10.01 	During this
      Agreement and after termination or expiration of this Agreement for
      any reason, the receiving party:
  

- 12 - 

	 	 	10.01.1 	may not use Confidential
      Information for any purpose other than for the performance of its
      obligations or the exercise of its rights under this Agreement;
	 	  	  	  
	 	  	10.01.2  	may not disclose Confidential
      Information to any third party; and 
	 	  	  	  
	 	                   
	 	  	10.01.3 	shall use reasonable commercial efforts to
      prevent the unauthorized use or disclosure of Confidential Information.
  
	 	  	  	
		10.02 	Each Party shall cause each of
      their respective employees, consultants, agents and representatives who shall have access to Confidential
      Information to sign a written agreement setting
      forth confidentiality obligations of each such employee, consultant, agent and representative. 
	 	  	  	  
		10.03 	Upon termination or expiration
      of this Agreement, each party shall promptly, upon request of the other party, return all documents and any copies
      thereof containing Confidential Information
      belonging to, or disclosed by, such other party, save that it may retain one copy of the same solely for the purposes of
      ensuring compliance with this Article 10.
    
	 	  	  	  
		10.04 	Any breach of this Article 10
      by a person informed by one of the Parties shall be considered a breach by that Party itself. 
	 	  	  	  
		10.05 	The Parties agree that the
      obligations of this Article 10 are necessary and reasonable in order to protect the Parties’ respective businesses. The
      Parties further agree that monetary damages may be
      inadequate to compensate a Party for any breach by the other Party of its covenants and agreements with respect to
      confidentiality, and that each Party shall be
      entitled to seek injunctive or other equitable relief against the
      threatened or continued breach of those provisions, in
      addition to with any other remedy which may be
      available. 
	 	  	  	  
	Article 11. 	Term 
	 	  	  	  
		11.01 	This Agreement shall be deemed
      to have commenced on the Effective Date and shall continue until the fifteenth (15th
      ) anniversary of the date of this Agreement,
      or if later upon the expiry of the last patent
      within the Foreground Intellectual Property and/or
      the INTELGENX Non-Severable Background Intellectual Property,
      unless terminated in accordance with the
      provisions of Sections 11.02 or 11.03 below. 
	 	  	  	  
	 	11.02 	This Agreement may be
      terminated by either Party: 
	 	  	  	  
			11.02.1 	if the other fails to perform
      any of its obligations under this Agreement and such failure is not
      remedied within thirty (30) days from written notice thereof having been given to such defaulting Party; 
	 	  	  	  
	 	  	11.02.2
	upon written notice if such other Party takes
      or is required by any Person with proper authority to
      take, any of the following actions: (i) an assignment, composition or similar act for
      the benefit of creditors; (ii) an attachment or receiving of assets; (iii) the filing of a petition for
      bankruptcy, insolvency or relief of debtors or the
      institution of any proceedings relating to bankruptcy, insolvency or relief of debtors; (iv) committing or threatening
      to commit any act of bankruptcy; or (v) a
      winding-up, liquidation or dissolution of the business pursuant to an order of a court of competent
      jurisdiction.
  

- 13 - 

	 	11.03 	This Agreement may be
      terminated by mutual consent of both Parties. 
	 	  	  
	 	11.04 	Termination of this
      Agreement shall not relieve AZUR of its obligations to pay
      INTELGENX any fees or costs due as of the effective date of termination.
    
	 	  	  
		11.05 	Upon expiry of this Agreement
      or upon its termination other than by reason of the breach of insolvency of AZUR, the licenses granted by INTELGENX
      to AZUR hereunder shall be converted into
      non-exclusive, perpetual, fully paid-up, royalty free licenses in the Territory until the later of the
      15th anniversary of this Agreement of the
      expiry of the last patent within the Foreground Intellectual
      Property. 
	 	  	  
		11.06 	The provisions of Article 7
      (indemnification), Article 8 (intellectual property, except as stated in Section 8.04) and ), Article 12 (publications),
      Article 15 (miscellaneous provisions) and Sections
      11.04 and 11.06 shall survive notwithstanding termination or expiry of this Agreement without limit in time. The
      provisions of Article 10 (confidentiality) shall
      survive for a period of 7 (seven) years following termination or expiry. The provisions of Section 11.05 (audit right) shall
      continue in force following termination or expiry
      as it relates to periods prior to termination or expiry in accordance with its terms. 
	 	  	  
	Article 12. 	Publications 
	 	  	  
		12.01 	Neither Party will be entitled
      to publish articles or make presentations relating to the Project, without the prior written consent of the other Party,
      which consent shall not be unreasonably withheld;
      provided that AZUR shall have the right to market the Product as it deems appropriate. 
	 	  	  
	Article 13. 	Notices
    
	 	  	  
		13.01 	Any notice to be made by a
      Party to any other Party shall be sufficiently made if sent by prepaid first class mail or facsimile or delivered by hand
      to the Party to be served at the address and to
      the persons appearing below or such other address or Person as
      may be notified in writing by one Party to the
      other: 
	 	  	  
	 	  	If to
      INTELGENX: 
	 	  	INTELGENX CORP.
    
	 	  	Attention: Chief
      Executive Officer 
	 	  	6425 Abrams
  
	 	  	Ville St-Laurent,
      Quebec, H4S 1X9 
	 	  	Facsimile: (514)
      331-0436 

- 14 - 

	 	  	If to
      AZUR: 
	 	  	AZUR PHARMA
      INTERNATIONAL II LTD 
	 	  	Attention:
      Secretary 
	 	  	Clarendon House
    
	 	  	2 Church Street
    
	 	  	Hamilton HM11
      Bermuda 
	 	  	Facsimile: (441)
      295-2408 
	 	 	 
			Except in the case of delivery
      by hand, or evidence to the contrary, the notice shall be deemed to have been made on the day on which such
      communication ought to have been delivered in due course of postal
      or facsimiled communication. 
	 	  	  
	Article 14. 	Publicity
    
	 	  	  
		14.01 	Subject to Section 14.02,
      neither Party shall make any public announcement or issue any press release concerning this Agreement and/or the
      transactions contemplated hereby, or use the name,
      trade-marks or any other Intellectual Property Right of the other in any advertising, promotional materials or for any
      other reason, without the other Party's prior
      written consent, which consent may be withheld at such Party’s
      sole discretion. 
	 	  	  
		14.02 	A Party (the “Disclosing Party”) will be entitled
      to make an announcement or public statement
      concerning the existence, subject matter or any term of this Agreement, or to disclose Confidential Information that the
      Disclosing Party is required to make or disclose
      pursuant to (a) a valid order of a court or Governmental Authority or (b) any other requirement of law or any securities
      or stock exchange; provided that if the Disclosing
      Party becomes legally required to make such announcement, public statement or disclosure hereunder, the
      Disclosing Party shall give the other Party prompt
      notice of such fact to enable the other Party to seek a protective order or other appropriate remedy concerning any
      such announcement, public statement or disclosure,
      including confidential treatment and/or appropriate redactions. The Disclosing Party shall fully co-operate with
      the other Party in connection with that other
      Party’s efforts to obtain any such order or other remedy. If any such order or other remedy does not fully preclude
      announcement, public statement or disclosure, the
      Disclosing Party shall make such announcement, public statement or
      disclosure only to the extent that the same is legally required. 
	 	  	  
	Article 15. 	Miscellaneous
      Provisions 
	 	  	  
		15.01 	Force
      Majeure. A Party shall not be in default with
      respect to the terms of this Agreement because
      said Party delays performance or fails to perform such terms provided such period or failure is the result of causes beyond
      the reasonable control of such Party. Causes
      reasonably beyond the control of a Party are limited to revolutions, civil disobedience, fires, acts of God, war, or
      public enemies, blockades, embargoes, strikes,
      labour disputes other than disputes induced by said party, delays in transit or deliveries, or impossibility to secure
      the necessary permits, permissions, raw materials, or equipment, in each
      case having the effect of preventing or prohibiting a Party from
      performing its obligations hereunder. "Force Majeure" shall not include
      failure caused by a party's financial condition, negligence, increased
      costs, or other similar circumstances.
    

- 15 - 

	 	15.02 	Assignment. Neither
      Party may assign this Agreement or any of its resulting rights or
      obligations, except as provided hereunder or with the prior written
      consent of the other Party, which shall not be unreasonably withheld or
      delayed. Notwithstanding the foregoing, each Party shall be permitted to
      assign or otherwise transfer its rights and obligations under this
      Agreement to its Affiliates, without being required to obtain the other
      party’s prior written consent, which shall not be unreasonably withheld or
      delayed. Either Party may assign its rights hereunder pursuant to a
      merger, consolidation or sale of all or substantially all its
      assets. 
	 	 	 
	 	15.03 	Parties Bound. This
      Agreement shall be binding upon and run for the benefit of the parties,
      their successors and permitted assigns. 
	 	 	 
	 	15.04 	Choice of Law and Jurisdiction. This Agreement shall be governed by and construed in
      accordance with the laws of the State of New York. With regard to any
      dispute which in any way relates to this Agreement, the Parties
      irrevocably submit to the exclusive jurisdiction of the State and Federal
      Courts located in New York. 
	 	 	 
	 	15.05 	Titles. The titles of
      the Articles and Sections of this Agreement are for general information
      and reference only, and this Agreement shall not be construed by reference
      to the titles. 
	 	 	 
	 	15.06 	Amendment. This
      Agreement may not be amended, supplemented or otherwise modified except by
      an instrument in writing signed by both Parties. 
	 	 	 
	 	15.07 	Entire Agreement. This
      Agreement, including any schedules attached hereto, together with the
      Non-Disclosure Agreement entered into between the Parties on March 30,
      2007, constitute the entire agreement between the Parties relating to the
      subject matter hereof and cancels and supersedes any and all prior
      negotiations, correspondence, understandings and agreements whether oral
      or written, between the Parties in respect thereof, including the
      LOI. 
	 	 	 
	 	15.08 	Invalidity. If any
      term, provision, or clause of this Agreement or any portion of such term,
      provision or clause is held invalid or unenforceable, the remainder of
      this Agreement will not be affected thereby and each remaining term,
      provision or clause or portion thereof will be valid and enforceable to
      the full extent permitted by law. 
	 	 	 
	 	15.09 	Waiver. A term or
      condition of this Agreement can be waived or modified only by written
      consent of all Parties hereto. No failure or delay in exercising any
      right, power or privilege hereunder shall operate as a waiver thereof, nor
      shall any single or partial exercise thereof preclude any other or further
      exercise thereof or the exercise of any right, power or privilege
      hereunder. 

- 16 - 

	 	15.10 	Independent Contractors. This is an agreement between separate legal entities and
      neither party is the agent or employee of the other for any purpose
      whatsoever. The Parties do not intend to create a partnership or joint
      venture between themselves. Neither Party shall have the right to bind the
      others to any agreement with a Person or to incur any obligation or
      liability on behalf of the other Party. 
	 	 	 
	 	15.11 	Counterparts. This
      Agreement may be executed in separate counterparts and all these
      counterparts shall for all purposes constitute one and the same agreement,
      notwithstanding that all Parties are not signatories to the same
      counterpart. 
	 	 	 
	 	15.12 	Further Assurance.
      Each party shall do and execute, or arrange for the doing and executing
      of, each necessary act, document and thing reasonably within its power to
      implement this Agreement. 

[THIS SPACE INTENTIONALLY LEFT BLANK]

- 17 - 

IN WITNESS WHEREOF, the Parties hereto have
executed this Agreement by their respective officers thereunto duly authorized.

AZUR PHARMA INTERNATIONAL II INTELGENX CORP.
LTD. 

	By: /s/ Kevin
      Insley                         
      	By: /s/ Horst G. Zerbe_________________ 
	Name: Kevin
      Insley 	Name: Horst G.
      Zerbe 
	Title: President 	Title: Chief Executive
      Officer 
	Date: December 7, 2007 	December 7, 2007
    

CONFIDENTIAL TREATMENT
REQUESTED 

Redacted portions are indicated by [*****]

Redacted portions filed separately with the
SEC pursuant 
to a confidential treatment request 

Schedule “A” 

Composition of Product 

[*****] 

CONFIDENTIAL TREATMENT
REQUESTED 

Redacted portions are indicated by [*****]

Redacted portions filed separately with the
SEC pursuant 
to a confidential treatment request 

     Schedule “B”
Development Plan Attached as Gantt Chart 

[*****] 

CONFIDENTIAL TREATMENT
REQUESTED 

Redacted portions are indicated by [*****]

Redacted portions filed separately with the
SEC pursuant 
to a confidential treatment request 

Schedule “C” 

Development Fees 

[*****]Termination Agreement and Release

 

This Termination Agreement
and Release (this “Agreement”) is made this 16th day of September, 2011, by and among OPTIMIZERx CORPORATION, a Nevada
corporation (the “Company ”), OPTIMIZERx CORPORATION, a Michigan corporation (the “Guarantor”), VICIS CAPITAL
MASTER FUND, a sub-trust of Vicis Capital Series Master Trust, a unit trust formed under the laws of the Cayman Islands (“Vicis”),
Physicians Interactive Holdings, LLC, a limited liability company formed under the laws of the State of Delaware (“PIH”)
and Physicians Interactive Inc., a Delaware corporation (“PI”).

 

This Agreement is entered into with reference
to the following:

 

A.                 
On or about October 5, 2010, the Company and PIH entered into that certain Strategic Partnering
Agreement to establish a strategic partnering relationship to facilitate the distribution by each party of the other’s products
and services and the development of joint offerings for each other’s customers. 

 

B.                 
On or about October 5, 2010, the Company and PI entered into that certain Securities Purchase
Agreement (the “Purchase Agreement”) and (together with Vicis and/or Guarantor, as applicable) other related Transaction
Documents (as that term is defined in the Purchase Agreement, and all other capitalized terms not defined in this Agreement shall
have the meanings ascribed to such terms in the Purchase Agreement), pursuant to which PI purchased the Securities from the Company,
and the Company amended and restated its Amended and Restated Security Agreement dated as of June 4, 2010 with Vicis for the purpose
of granting in favor of Vicis, for the benefit of Vicis and PI, a security interest in and liens on all of the Company’s
assets.

 

C.                 
On or about October 5, 2010, the Guarantor executed in favor of and delivered to PI and to
Vicis, for the benefit of Vicis and PI, certain guaranties, that certain Second Amended and Restated Guarantor Security Agreement,
and other pledges of collateral in connection with the financial accommodations to the Company under the Purchase Agreement.

 

D.                 
On or about September 8, 2008, the Company entered into a Securities Purchase Agreement for
the sale of Series A Convertible Preferred Stock with Vicis and later on June 4, 2010 the Company entered into a second Securities
Purchase Agreement with Vicis for the sale of Series B Convertible Preferred Stock (the transactions contemplated thereby together,
the “Vicis Financings”). In connection with the Vicis Financings, the Company granted Vicis a security interest in
the Company’s assets and further agreed to register certain shares brought about by the financings. In order to induce PI
to enter into the Purchase Agreement with the Company, Vicis agreed to modify its Amended and Restated Security Agreement and Amended
and Restated Registration Rights Agreement with the Company. These modified agreements, which were entered into on or about October
5, 2010 and are referred to as part of the Transaction Documents, include the Second Amended and Restated Security Agreement, the
Second Amended and Restated Guarantor Security Agreement, the Amended and Restated Registration Rights Agreement, the Securityholders’
Agreement, and the Intercreditor Agreement. 

 

E.                  
On the terms and subject to the conditions of this Agreement, the parties desire to: (i) terminate
the Strategic Partnering Agreement and the Purchase Agreement and accompanying Transaction Documents with respect to PIH and PI;
and (ii) restore the terms of the security interest and registration rights that the Company had with Vicis under the Vicis Financings
immediately prior to the closing of the transactions contemplated under the Transaction Documents.

    	 

    	 

    

NOW, THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each
of the parties hereto acknowledges and agrees as follows.

 

1.                  
Payoff Amount. Within a reasonable period of time following the execution of this Agreement,
but in no event later than 4:00 p.m. on September 30, 2011, the Company shall pay to PI in cash the aggregate amount of $1,056,876
(the “Payoff Amount”) by wire transfer of immediately available funds to the account provided by PI. 

 

2.                  
Termination of Obligations. The parties acknowledge and agree that upon receipt of
the fully executed counterparts of this Agreement and receipt by PI of the Payoff Amount, all of the Terminated Obligations (as
defined below) of the Company and/or Guarantor to PI and of PI to the Company and/or Guarantor shall terminate and be of no further
force or effect. As used herein, “Terminated Obligations” means all obligations of the Company and/or Guarantor to
PI and of PI to the Company and/or Guarantor outstanding under the Transaction Documents including, but not limited to, all principal
and interest owed under the Note, all obligations under the Contingent Warrant, all security interests, registration rights, guaranties,
legal fees and other charges outstanding or payable under the Purchase Agreement and accompanying Transaction Documents (other
than the Warrant) and all obligations of PIH and the Company under the Strategic Partnering Agreement, excluding (a) the Warrant,
which shall remain outstanding and in full force and effect in accordance with its terms unaffected by this Agreement and (b) Sections
4.1, 4.2 and 8 of the Strategic Partnering Agreement, which shall continue in effect in accordance with their terms unaffected
by this Agreement. PIH and the Company further agree that there shall be a transition period with respect to the Strategic Partnering
Agreement to allow for the completion of any pending deals. Schedule A hereto sets forth the matters to be undertaken by the Company
and PIH during such transition period. The parties further acknowledge and agree that upon receipt of the fully executed counterparts
of this Agreement and receipt by PI of the Payoff Amount, the Intercreditor Agreement and the Securityholders’ Agreement
shall be of no further force or effect.

 

3.                  
Release of Collateral. PI shall, as promptly as practicable after receipt of the Payoff
Amount, and hereby authorizes each of the Company, Guarantor and Vicis to:

 

a.                  
Execute and deliver Uniform Commercial Code termination statements or amendments required
to remove PI as a secured party of record on those financing statements previously filed by Vicis, on behalf of the PI and Vicis,
with respect to the Obligations;

 

b.                  
Execute and deliver any and all other lien releases and other similar discharge or release
documents (and if applicable, in recordable form) that the Company, Guarantor or Vicis reasonably may request to release the security
interests of PI and all other notices of security interests and liens of PI (but for the avoidance of doubt not in either case
of Vicis) previously filed by PI or by Vicis, for the benefit of the PI and Vicis, with respect to the Obligations;

 

4.                  
Return of Note and Contingent Warrant. PI shall, as promptly as practicable after receipt of the Payoff Amount, return
the Note to the Company and, if already received, return the Contingent Common Stock Warrant to purchase up to an aggregate of
1,000,000 shares of Common Stock in the form attached to the Purchase Agreement as Exhibit C (but for the avoidance of doubt shall
not be obligated hereby to return the Warrant).

    	2

    	 

    

 

5.                  
Restoration of Agreements under the Vicis Financings. Upon the satisfaction of the
Company and Guarantor of the performance required by Sections 3, 4, and 5 of this Agreement, Vicis and the Company and/or Guarantor,
as the case may be, shall enter into a Third Amended and Restated Security Agreement in the form attached hereto as Exhibit
A, Third Amended and Restated Guarantor Security Agreement in the form attached hereto as Exhibit B, Second Amended
and Restated Registration Rights Agreement in the form attached hereto as Exhibit C, and Amendment to Series B Purchase
Agreement in the form attached hereto as Exhibit D, each such agreement of which is intended to materially restore in full
the relationship that existed between Vicis and the Company and/or Guarantor, as the case may be, pursuant to such agreements that
were in place under the Vicis Financings and were subsequently modified in connection with the Purchase Agreement and accompanying
Transaction Documents as if the Purchase Agreement and accompanying Transaction Documents were never executed. The parties to this
Agreement agree to execute and deliver all necessary documents to restore the terms of such agreements as existed under the Vicis
Financings immediately prior to the closing of the transactions contemplated under the Transaction Documents as provided hereto.
The Company agrees that the restrictive legend described in Section 6(a) of the Securityholders’ Agreement shall be removed
from all securities held by Vicis bearing such legend.

 

6.                  
Restrictions. The Company acknowledges that by virtue of the Strategic Partnering Agreement,
the Company and its affiliates have been provided confidential and other information regarding PIH’s marketing strategies
and customer relationships. In light of the foregoing, the Company agrees that, for a period of one year after the execution of
this Agreement, neither the Company nor any of its affiliates will enter into a strategic partnership, joint venture or other similar
arrangement pertaining to any of the activities specified in Recital A to the Strategic Partnering Agreement with any of the following
competitors of PI: WebMD, LLC, Epocrates, Inc., PDR Network, LLC and PDI, Inc. or any of their respective affiliates. 

 

7.                  
Release by and among the Company, the Guarantor, PI and PIH. Each of the Company and
the Guarantor, on the one hand, and PI and PIH, on the other hand, releases, remises, acquits and forever discharges any other
party to this Agreement and their related or controlled entities, and all of their directors, officers, members, managers, partners,
employees, servants, attorneys, assigns, heirs, successors, agents and representatives, past and present, and the respective successors,
executors, administrators and any legal and personal representatives of each of the foregoing, and each of them, from any and all
claims, demands, actions, causes of action, debts, liabilities, rights, contracts, obligations, duties, damages, costs, expenses
or losses, of every kind and nature whatsoever, and by whomever asserted, whether at this time known or suspected, or unknown or
unsuspected, anticipated or unanticipated, direct or indirect, fixed or contingent, or which may presently exist or which may hereafter
arise or become known, in law or in equity, in the nature of an administrative proceeding or otherwise, for or by reason of any
event, transaction, matter or cause whatsoever, with respect to, the Terminated Obligations, provided that nothing contained in
this Section 7 shall release or otherwise relieve any of the Company, the Guarantor, PIH or PI from any of their obligations under
this Agreement. 

 

It is understood by the
parties that the facts with respect to which the foregoing release is given may hereafter turn out to be other than or different
from the facts now known to a party or the parties or believed by a party or the parties to be true, and each party therefore expressly
assumes the risk of the facts turning out to be so different and agrees that the foregoing release shall be in all respects effective
and not subject to termination or rescission by any such difference in facts.

 

8.                  
Release by and between PI and Vicis. Each of PIH, PI and Vicis, respectively, except
for the obligations set forth in this Agreement, hereby releases, remises, acquits and forever discharges Vicis, PIH and PI, respectively,
and their respective related or controlled entities, and all of their respective directors, officers, members, managers, partners,
investment advisors, interest holders, employees, servants, attorneys, assigns, heirs, successors, agents and representatives,
past and present, and the respective successors, executors, administrators and any legal and personal representatives of each of
the foregoing, and each of them, from any and all claims, demands, actions, causes of action, debts, liabilities, rights, contracts,
obligations, duties, damages, costs, expenses or losses, of every kind and nature whatsoever, and by whomever asserted, whether
at this time known or suspected, or unknown or unsuspected, anticipated or unanticipated, direct or indirect, fixed or contingent,
or which may presently exist or which may hereafter arise or become known, in law or in equity, in the nature of an administrative
proceeding or otherwise, for or by reason of any event, transaction, matter or cause whatsoever, with respect to, in connection
with or arising out of the Securityholders’ Agreement, the Intercreditor Agreement, the Second Amended and Restated Security
Agreement, the Second Amended and Restated Guarantor Security Agreement, and the Amended and Restated Registration Rights Agreement.

    	3

    	 

    
 

It is understood by the
parties that the facts with respect to which the foregoing release is given may hereafter turn out to be other than or different
from the facts now known to a party or the parties or believed by a party or the parties to be true, and each party therefore expressly
assumes the risk of the facts turning out to be so different and agrees that the foregoing release shall be in all respects effective
and not subject to termination or rescission by any such difference in facts.

 

9.                  
No Assignment. The parties to this Agreement represent and warrant that neither they
nor their affiliated persons or entities have assigned or transferred any claim or interest herein or authorized any other person
or entity to assert any claim or claims on its behalf with respect to the subject matter of this Agreement.

 

10.               
Non-Disparagement. The parties agree not to make any oral or written statements or
otherwise take any action that is intended or may reasonably be expected to disparage the reputation, business, prospects or operations
of any other party to this Agreement. 

 

11.               
Further Assurances. From time to time, at the request of any party hereto and without
further consideration, the other parties will execute and deliver to such requesting party such documents and take such other action
as such requesting party may reasonably request in order to consummate more effectively the releases contemplated hereby or that
otherwise may be reasonably required to carry out the terms of this Agreement..

 

12.               
Choice of Law; Severability. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York as applied to agreements among parties resident therein. Whenever possible, each provision
of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of
this Agreement shall be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of
such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of this Agreement.

 

13.               
Advice of Counsel. Each party has had advice of independent counsel of its own choosing
in negotiations for and the preparation of this Agreement, has read this Agreement in full and final form, and has had this Agreement
fully explained to it to its satisfaction.

 

14.               
No Third Party Beneficiaries. This Agreement is executed for the parties hereto, and
no other person, corporation, partnership, individual or other entity not a party to this Agreement shall have any rights herein
as a third party beneficiary or otherwise, except to the extent expressly and specifically provided herein.

 

15.               
Counterparts. This Agreement may be executed in duplicates and counterparts, which,
taken together, will be deemed and serve as an original. In addition, the parties agree that their authorized representatives may
bind them to the terms of this Agreement with signatures exchanged by fax or electronic transmission (in .pdf format), and each
duplicate faxed or electronic signature copy shall be deemed to be an original of this Agreement.

 

16.               
Entire Agreement. This is the entire Agreement between the parties with respect to
this matter. There are no other agreements or understandings, written or oral, express or implied.

 

17.               
Joint Press Release. The Company, PIH and PI shall cooperate with each other in the
development and distribution of all news releases and other public disclosures with respect to this Agreement, and except as may
be otherwise required by law, neither the Company nor PI shall issue any news release, or other public announcement or communication
with respect to this Agreement unless such news release, public announcement or communication has been mutually agreed upon by
the parties hereto. Notwithstanding the foregoing, a party may, without the prior consent of the other party (but after prior
consultation with the other party), issue such press release or public disclosure as may upon the advice of counsel be required
by law.

    	4

    	 

    

 

IN WITNESS WHEREOF, the parties have
caused this Agreement to be executed and delivered by their duly authorized representatives.

 

	OPTIMIZERX CORPORATION (Nevada)
		
	By:	/s/ H. David
    Lester
	Name:	H. David Lester
	Title:	CEO
		
	OPTIMIZERX CORPORATION (Michigan)
		
	By:	/s/ H. David Lester
	Name:	H. David Lester
	Title:	CEO
		
	VICIS
                                                                      CAPITAL MASTER FUND

        By: Vicis Capital, LLC, its
        investment advisor

		
	By:	/s/ Keith W. Hughes
	Name:	Keith W. Hughes
	Title:	CFO
		
	PHYSICIANS INTERACTIVE HOLDINGS
    , LLC.
		
	By:	/s/ Donato J. Tramuto
	Name:	Donato J. Tramuto
	Title:	Vice Chairman
    & CEO
		
	PHYSICIANS INTERACTIVE, INC.
		
	By:	/s/ Donato J. Tramuto
	Name:	Donato J. Tramuto
	Title:	Vice Chairman
    & CEO

 

    	5

    	 

    

 

SCHEDULE
A

	Current joint client contracts (listed below) for existing projects
would be serviced through completion according to the existing terms of the Strategic Partnering Agreement. If requested by PI's,
additional extensions regarding these customer contracts will be considered in good faith by OPTIMIZERx Corp.

	PharmaDerm
	Omnaris
	 

	For clients where PI has submitted proposals as listed and attached
hereto as Exhibit E, and approved by OPTIMIZERx, OPTIMIZERx Corp would agree to honor the existing terms of the Strategic
Partnering Agreement, for contracts signed prior to December 31, 2011. Customers with outstanding proposals are named below: 

	GlaxoSmithKline
	Watson Pharmaceuticals
	Bayer
	Abbott
	Lilly
	AstraZeneca

	For both of the above, Parties will bear their own costs related
to fulfilling current and future obligations according to the terms of the Strategic Partnering Agreement.

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