Document:

Exhibit 10.4

 

	
        WARNING

        the taking
        of this document or any certified copy of it or any other document which constitutes substitute documentation for it, or any document
        which includes written confirmations or references to it, into Austria as well as printing out any e-mail communication which refers
        to this document in Austria or sending any e-mail communication to which a PDF scan of this document is attached to an Austrian
        addressee or sending any e-mail communication carrying an electronic or digital signature which refers to this document to an Austrian
        addressee may cause the imposition of Austrian stamp duty. Accordingly, keep the original document as well as all certified copies
        thereof and written and signed references to it outside of Austria and avoid printing out any e-mail communication which refers
        to this document in Austria or sending any e-mail communication to which a PDF scan of this document is attached to an Austrian
        addressee or sending any e-mail communication carrying an electronic or digital signature which refers to this document to an Austrian
        addressee

 

THIRD SUPPLEMENTAL INDENTURE

Supplemental Indenture (this “Supplemental
Indenture”), dated as of November 17, 2014, between DSM Fine Chemicals GmbH (the “Austrian Guarantor”),
a subsidiary of DPx Holdings B.V. (formerly known as JLL/Delta Dutch Newco B.V.), a private limited liability company organized
under the laws of the Netherlands, as Issuer (under the Indenture referred to below), and Wells Fargo Bank, National Association,
as trustee (under the Indenture referred to below) (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Issuer has heretofore executed and
delivered to the Trustee an indenture (the “Indenture”), dated as of February 5, 2014, providing for the issuance
of an unlimited aggregate principal amount of 7.50% Senior Notes due 2022 (the “Notes”);

 

WHEREAS, the Indenture provides that under certain
circumstances the Austrian Guarantor shall execute and deliver to the Trustee a supplemental indenture pursuant to which the Austrian
Guarantor shall unconditionally guarantee, subject to the limitations as set out herein, all of the Issuer’s Obligations
under the Notes and the Indenture on the terms and conditions set forth herein and under the Indenture (the “Limited Guarantee”);
and

 

WHEREAS, pursuant to Section 9.01 of the Indenture,
the Trustee, the Issuer and the Austrian Guarantor are authorized to execute and deliver this Supplemental Indenture.

 

NOW THEREFORE, in consideration of the foregoing
and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree
for the equal and ratable benefit of the Holders of the Notes as follows:

 

(1)          Capitalized Terms. Capitalized terms
used herein without definition shall have the meanings assigned to them in the Indenture.

 

(2)              
Agreement to Guarantee.

 

(a) The Austrian Guarantor hereby agrees to be
a Limited Guarantor under the Indenture and to be bound by the terms of the Indenture applicable to the Limited Guarantors, including
Article 10 thereof, subject to the limitations as set out herein.

 

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(b) Nothing in the Limited Guarantee, the Indenture
and/or the Supplemental Indenture shall be construed to create any obligation of the Austrian Guarantor to act in violation of
mandatory Austrian capital maintenance rules (Kapitalerhaltungsvorschriften) including, without limitation, § 82 et
seq. of the Austrian Act on Limited Liability Companies (Gesetz über Gesellschaften mit beschränkter Haftung - “GmbHG”)
and § 52 et seq. of the Austrian Act on Joint Stock Companies (Aktiengesetz - “AktG”) (the “Austrian
Capital Maintenance Rules”), and any and all obligations of the Austrian Guarantor under their Limited Guarantee, the
Indenture and/or the Supplemental Indenture shall be limited in accordance with Austrian Capital Maintenance Rules. If and to the
extent that payment obligations of the Austrian Guarantor under the Limited Guarantee, the Indenture and/or the Supplemental Indenture
would violate any Austrian Capital Maintenance Rules, such payment obligation shall at all times be limited to the maximum amount
permitted to be paid in accordance with such rules and shall (as per the current understanding of the Austrian Capital Maintenance
Rules) not exceed

(i)           the Austrian Guarantor's balance
sheet profit (including retained earnings) ((Bilanzgewinn) as defined in § 224 (3) lit A no. IV of the Austrian Enterprise
Code (Unternehmensgesetzbuch – UGB) as calculated by reference to the most recent audited and approved (festgestellt
within the Austrian law meaning of that term) financial statements of the Austrian Guarantor) then available for distribution at
the time or times payment under or pursuant to the Limited Guarantee is requested, plus

(ii)          any other amounts which are freely
available or can be converted into amounts freely available for distribution to the shareholder(s) under the GmbHG or the AktG
(as the case may be) and the UGB (such as, for instance, unrestricted reserves (freie Rücklagen within the Austrian
law meaning of that term)) at the time or times payment under or pursuant to the Limited Guarantee is requested from the Austrian
Guarantor to the extent these have been made available by passing the necessary corporate resolutions and taking other steps required
by law for distribution at the relevant point in time in accordance with Austrian law, plus

(iii)         to the extent applicable, amounts
payable by the Austrian Guarantor and/ or its subsidiaries from bond proceeds which were on-lent to the Austrian Guarantor and/
or its subsidiaries by the Issuer, to the extent owed by the Austrian Guarantor and/ or its subsidiaries to the Issuer at the relevant
point in time, plus

(iv)         to the extent applicable, the amount
of any indebtedness capable of being discharged by way of setting-off the Austrian Guarantor's re-course claim following an enforcement
of this Supplemental Indenture against any indebtedness owed by the Austrian Guarantor to the Issuer, to the extent such set-off
is enforceable and permitted under the Limited Guarantee at the time of payment under or pursuant to the Limited Guarantee.

 

(c) The Austrian Guarantor hereby agrees that
it is liable for, as primary obligor and not as surety (Bürge) and not as joint debtor (Mitschuldner), under
the Limited Guarantee and undertakes to pay the amounts demanded under or pursuant to its Limited Guarantee unconditionally, irrevocably,
upon first demand and without raising any defenses or objections, set-off or counterclaim and without verification of the legal
ground (unbedingt, unwiderruflich, auf erstes Anfordern, unter Verzicht auf alle Einwendungen oder Einreden, ohne Aufrechnung
oder die Geltendmachung von Gegenforderungen und ohne Prüfung des Rechtsgrunds) within the Austrian law meaning of these
terms. The Limited Guarantee is an abstract guarantee (abstrakter Garantievertrag).

 

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(3)              
Execution and Delivery. 

 

(a)           To evidence its Guarantee set forth
in Section 10.01 of the Indenture, the Austrian Guarantor hereby agrees that this Supplemental Indenture shall be executed on behalf
of the Austrian Guarantor by its legal representatives in accordance with Austrian law or any attorney duly authorized in writing.

(b)           If an Officer whose signature is on this
Supplemental Indenture no longer holds that office at the time the Trustee authenticates the Note, the Guarantee shall be valid
nevertheless.

 

(c)           The Austrian Guarantor agrees that the Limited
Guarantee shall remain in full force and effect notwithstanding the absence of the endorsement of any notation of such Limited
Guarantee on the Notes.

 

(4)              
Governing Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARDS TO CONFLICT OF LAWS PROVISIONS THEREOF.

 

(5)              
Agent for Service; Submission to Jurisdiction; Waiver of Immunity.

 

(a)               
By the execution and delivery of this Supplemental Indenture, the Austrian Guarantor (A) acknowledges
that it has, by separate written instrument, designated and appointed Patheon Pharmaceuticals Inc., c/o Patheon Inc., 4721 Emperor
Boulevard, Suite 200, Durham NC 27703, Attn: Legal Department (together with any successor, the “Agent for Service”),
as their authorized agent upon which process may be served in any suit or proceeding based on or arising out of this Supplemental
Indenture, that may be instituted in any U.S. federal or state court in the State of New York, or brought under U.S. federal or
state securities laws, and acknowledge that the Agent for Service has accepted such designation, (B) submits for itself and
its property to the non exclusive jurisdiction of any such court in any such suit or proceeding, (C) consents that any such
proceeding may be brought in any such court and waives trial by jury and any objection that any of them may now or hereafter have
to the venue of any such proceeding in any such court or that such proceeding was brought in any inconvenient court and agrees
not to plead or claim the same, (D) agrees that service of process upon the Agent for Service (or any successor) and written
notice of said service to such Persons in accordance with Section 12.01 of the Indenture shall be deemed in every respect effective
service of process upon such Persons in any such suit or proceeding and (E) agrees that nothing herein shall affect the right
to effect service of process in any other manner permitted by law or shall limit the right to sue in any other jurisdiction.

(b)              
To the extent that the Austrian Guarantor may be entitled, in any jurisdiction in which judicial
proceedings may at any time be commenced with respect to or arising out of this Supplemental Indenture, to claim for itself or
its revenues, assets or properties immunity (whether by reason of sovereignty or otherwise) from suit, from the jurisdiction of
any court (including but not limited to any court of the United States of America or the State of New York), from attachment prior
to judgment, from set-off, from execution of a judgment or from any other legal process, and to the extent that in any such jurisdiction
there may be attributed such an immunity (whether or not claimed), such Person hereby irrevocably agrees not to claim and hereby
irrevocably waives such immunity to the extent permitted by law.

 

(6)              
Counterparts. The parties may sign any number of copies of this Supplemental Indenture.
Each signed copy shall be an original, but all of them together represent the same agreement.

 

(7)              
Effect of Headings. The Section headings herein are for convenience only and shall
not affect the construction hereof.

 

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(8)              
The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in
respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all
of which recitals are made solely by the Austrian Guarantor.

 

(9)              
Subrogation. The Austrian Guarantor shall be subrogated to all rights of Holders of
Notes against the Issuer in respect of any amounts paid by the Austrian Guarantor pursuant to the provisions of Section 10.01 of
the Indenture; provided that, if an Event of Default has occurred and is continuing, the Austrian Guarantor shall not be
entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation until all amounts then due
and payable by the Issuer under the Indenture or the Notes shall have been paid in full.

 

(10)           
Successors. All agreements of the Austrian Guarantor in this Supplemental Indenture
shall bind its Successor Guarantor, except as otherwise provided in the seventh paragraph under Section 10.01 of the Indenture
or elsewhere in this Supplemental Indenture. All agreements of the Trustee in this Supplemental Indenture shall bind its successors.

 

(11)        Place of Performance. The parties
hereto agree that the exclusive place of performance (Erfüllungsort) for all rights and obligations under this Supplemental
Indenture and any transaction contemplated thereunder shall be at the seat of the Trustee, or any other place reasonably designated
by the Trustee but in any case a place outside the Republic of Austria.

 

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IN WITNESS WHEREOF, the parties hereto have caused
this Supplemental Indenture to be duly executed, all as of the date first above written.

	 	 	 
	 	DSM FINE CHEMICALS GMBH 
	 	as the Austrian Guarantor
	 	 
	 	By: 	 
	 	 	Name: Michael Lytton
	 	 	Title: Authorized Signatory

 

[Signature Page
to Third Supplemental Indenture]

 

    	 

    	 

    

 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL 

ASSOCIATION, as Trustee
	 	 
	 	By: 	 
	 	 	Name:
	 	 	Title:

 

[Signature Page to Third Supplemental Indenture]Exhibit 10.5 

FOURTH
SUPPLEMENTAL INDENTURE

 

Supplemental
Indenture (this “Supplemental Indenture”), dated as of November 17, 2014, among the guaranteeing subsidiaries
listed on the signature pages hereto (collectively, the “Guaranteeing Subsidiaries”), each a subsidiary of
DPx Holdings B.V. (formerly known as JLL/Delta Dutch Newco B.V.), a private limited liability company organized under the laws
of the Netherlands, as Issuer (under the Indenture referred to below), and Wells Fargo Bank, National Association, as trustee
(under the Indenture referred to below) (the “Trustee”).

 

W
I T N E S S E T H

 

WHEREAS,
the Issuer has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of
February 5, 2014, providing for the issuance of an unlimited aggregate principal amount of 7.50% Senior Notes due 2022 (the “Notes”);

 

WHEREAS,
the Indenture provides that under certain circumstances the Guaranteeing Subsidiaries shall execute and deliver to the Trustee
a supplemental indenture pursuant to which the Guaranteeing Subsidiaries shall unconditionally guarantee, subject to certain limitations
relating to local law, all of the Issuer’s Obligations under the Notes and the Indenture on the terms and conditions set
forth herein and under the Indenture (the “Guarantee”); and

 

WHEREAS,
pursuant to Section 9.01 of the Indenture, the Trustee, the Issuer and Guaranteeing Subsidiaries are authorized to execute and
deliver this Supplemental Indenture.

 

NOW
THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged,
the parties mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

(1)          Capitalized
Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 

(2)          Agreement
to Guarantee. Each Guaranteeing Subsidiary hereby agrees to be a Guarantor under the Indenture and to be bound by the terms
of the Indenture applicable to Guarantors, including Article 10 thereof.

 

(3)          Execution
and Delivery.

 

(a)          To
evidence its Guarantee set forth in Section 10.01 of the Indenture, each Guaranteeing Subsidiary hereby agrees that this Supplemental
Indenture shall be executed on behalf of such Guaranteeing Subsidiary by its President, Secretary, Assistant Secretary, one of
its Vice Presidents or one of its Assistant Vice Presidents or by its legal representatives in accordance with applicable local
law, or in the case of a Guarantor organized or formed under the laws of the Netherlands, any director, or any attorney in fact
duly authorized in writing, or in the case of a Guarantor organized or formed under the laws of the Cayman Islands, if a company,
an authorized Officer or, if a partnership, an authorized Officer of its general partner, or in the case of any Guarantor incorporated
under the laws of England and Wales, any director, authorized signatory or any attorney duly authorized in writing.

 

(b)          If
an Officer whose signature is on this Supplemental Indenture no longer holds that office at the time the Trustee authenticates
the Note, the Guarantee shall be valid nevertheless.

 

    	 

    	 

    

 

(c)          The
Guaranteeing Subsidiaries agree that the Guarantee shall remain in full force and effect notwithstanding the absence of the endorsement
of any notation of such Guarantee on the Notes.

 

(4)          Governing
Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARDS TO CONFLICT OF LAWS PROVISIONS THEREOF.

 

(5)          Agent
for Service; Submission to Jurisdiction; Waiver of Immunity.

 

(a)          By
the execution and delivery of this Supplemental Indenture, the Guaranteeing Subsidiaries that are not incorporated or otherwise
organized under the laws of any State (including the District of Columbia and the Commonwealth of Puerto Rico) of the United States
(A) acknowledge that they have, by separate written instrument, designated and appointed Patheon Pharmaceuticals Inc., c/o Patheon
Inc., 4721 Emperor Boulevard, Suite 200, Durham NC 27703, Attn: Legal Department (together with any successor, the “Agent
for Service”), as their authorized agent upon which process may be served in any suit or proceeding based on or arising
out of this Supplemental Indenture, that may be instituted in any U.S. federal or state court in the State of New York, or brought
under U.S. federal or state securities laws, and acknowledge that the Agent for Service has accepted such designation, (B) submit
for themselves and their property to the non exclusive jurisdiction of any such court in any such suit or proceeding, (C) consent
that any such proceeding may be brought in any such court and waives trial by jury and any objection that any of them may now
or hereafter have to the venue of any such proceeding in any such court or that such proceeding was brought in any inconvenient
court and agrees not to plead or claim the same, (D) agree that service of process upon the Agent for Service (or any successor)
and written notice of said service to such Persons in accordance with Section 12.01 of the Indenture shall be deemed in every
respect effective service of process upon such Persons in any such suit or proceeding and (E) agree that nothing herein shall
affect the right to effect service of process in any other manner permitted by law or shall limit the right to sue in any other
jurisdiction.

          

(b)          To
the extent that the Guaranteeing Subsidiaries may be entitled, in any jurisdiction in which judicial proceedings may at any time
be commenced with respect to or arising out of this Supplemental Indenture, to claim for itself or its revenues, assets or properties
immunity (whether by reason of sovereignty or otherwise) from suit, from the jurisdiction of any court (including but not limited
to any court of the United States of America or the State of New York), from attachment prior to judgment, from set-off, from
execution of a judgment or from any other legal process, and to the extent that in any such jurisdiction there may be attributed
such an immunity (whether or not claimed), such Person hereby irrevocably agrees not to claim and hereby irrevocably waives such
immunity to the extent permitted by law.

          

(6)          Counterparts.
The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them
together represent the same agreement.

 

(7)          Effect
of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof.

 

(8)
         The Trustee. The Trustee shall not be responsible in any manner whatsoever
for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained
herein, all of which recitals are made solely by the Guaranteeing Subsidiaries.

 

    	2

    	 

    

 

(9)
        Subrogation. The Guaranteeing Subsidiaries shall be subrogated to all rights
of Holders of Notes against the Issuer in respect of any amounts paid by the Guaranteeing Subsidiaries pursuant to the provisions
of Section 10.01 of the Indenture; provided that, if an Event of Default has occurred and is continuing, no Guaranteeing
Subsidiaries shall be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation until
all amounts then due and payable by the Issuer under the Indenture or the Notes shall have been paid in full.

 

(10)       Successors.
All agreements of each of the Guaranteeing Subsidiaries in this Supplemental Indenture shall bind its Successor Guarantor, except
as otherwise provided in the seventh paragraph under Section 10.01 of the Indenture or elsewhere in this Supplemental Indenture.
All agreements of the Trustee in this Supplemental Indenture shall bind its successors.

 

    	3

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the date first above
written. 

	 	 	 
	 	DPx/Gallus
    RE LLC
	 	as a Guaranteeing Subsidiary
	 	 	 
	 	By:	 
	 	 	Name: Michael Lytton
	 	 	Title: President
	 	 	 
	 	Gallus RE LLC
	 	as a Guaranteeing Subsidiary
	 	 
	 	By: DPx/Gallus RE LLC, its Member
	 	 	 
	 	By:	 
	 	 	Name: Michael Lytton
	 	 	Title: President

 

[Signature
Page to Fourth Supplemental Indenture]

 

    	 

    	 

    

  

	 	 	 
	 	GALLUS BIOPHARMACEUTICALS,
    LLC
	 	as a Guaranteeing Subsidiary
	 	 	 
	 	By:	 
	 	 	Name: Mark Bamforth
	 	 	Title: President and Chief Executive Officer
	 	 	 
	 	GALLUS BIOPHARMACEUTICALS
    NJ, LLC
	 	as a Guaranteeing Subsidiary
	 	 	 
	 	By:	 
	 	 	Name: Mark Bamforth
	 	 	Title: President and Chief Executive Officer

 

[Signature
Page to Fourth Supplemental Indenture]

 

    	 

    	 

    

 

	 	 	 
	 	DSM PHARMA CHEMICALS VENLO
    B.V.
	 	as a Guaranteeing Subsidiary
	 	 	 
	 	By:	 
	 	 	Name: Michael Lytton
	 	 	Title: Authorized Signatory
	 	 	 
	 	DSM BIOSOLUTIONS B.V.
	 	as a Guaranteeing Subsidiary
	 	 	 
	 	By:	 
	 	 	Name: Michael Lytton
	 	 	Title: Authorized Signatory
	 	 	 
	 	PATHEON BIOLOGICS B.V.
	 	as a Guaranteeing Subsidiary
	 	 	 
	 	By:	 
	 	 	Name: Michael Lytton
	 	 	Title: Authorized Signatory

 

[Signature
Page to Fourth Supplemental Indenture]

 

    	 

    	 

    

 

	 	 	 
	 	PATHEON MANUFACTURING SERVICES
    LLC
	 	as a Guaranteeing Subsidiary
	 	 	 
	 	By:	 
	 	 	Name: Dean Wilson
	 	 	Title: Treasurer

 

[Signature
Page to Fourth Supplemental Indenture]

 

    	 

    	 

    

 

	 	 	 
	 	WELLS FARGO BANK, NATIONAL
ASSOCIATION
	 	as Trustee
	 	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

[Signature
Page to Fourth Supplemental Indenture]

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