Document:

Mayo License Agreement

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 
  
 Exhibit 10.2 
  
 MAYO FOUNDATION FOR MEDICAL EDUCATION AND RESEARCH 
 LICENSE AGREEMENT 
  
 This license agreement (“Agreement”) is by and between Mayo Foundation For Medical Education And Research, a Minnesota charitable corporation,
located at 200 First Street SW, Rochester, Minnesota 55905-0001 (“MAYO”), and Accentia Specialty Biopharmaceuticals, Inc., Accentia Specialty Biopharmaceuticals, Inc. Suite 110, Aerial Center, Morrisville, NC 27560( “ACCENTIA”);
each a “Party,” and collectively, “Parties.”  
  
 WHEREAS, MAYO desires to make its patent rights and know-how available for
the development and commercialization of products for public use and benefit; and 
  
 WHEREAS, ACCENTIA represents itself as being knowledgeable in providing pharmacy services and developing and commercializing biopharmaceutical products; and 
  
 WHEREAS, MAYO is willing to grant and ACCENTIA is willing to accept an
exclusive license under the certain patent rights and know-how for the purpose of developing such therapeutic products for the treatment of chronic rhinosinusitis; and 
  
 WHEREAS, ACCENTIA will be solely responsible for designing, developing, marketing and selling any products in accordance
with the grant of rights hereunder. 
  
 NOW THEREFORE, in
consideration of the foregoing and the promises and covenants set forth below, the Parties hereby agree as follows: 
  
 Article 1.00 - Definitions 
  
 For purposes of this Agreement, the terms defined in this Article will have the meaning specified and will be applicable both to the singular and plural forms: 
  
 1.01 “Accentia Specialty Pharmacy” shall be the Compounding Pharmacy, which is an Affiliate of ACCENTIA. As of the
Effective Date, the name of this entity is Accent Rx. 
  
 1.02
“Affiliate” for MAYO shall be any corporation or other entity within the same “controlled group of corporations” as MAYO or its parent Mayo Foundation. For purposes of this definition, the term “controlled group of
corporations” will have the same definition as Section 1563 of the Internal Revenue Code as of November 10, 1998, but will include corporations or other entitles which, if not a stock corporation, more than 50% of the board of directors or
other governing body of such corporation or other entity is controlled by a corporation within the controlled group of corporations of MAYO or Mayo Foundation. MAYO’s Affiliates include, but 

					
	 License Agreement
	  	 	  	page 2 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

 
are not limited to: Mayo Foundation; Mayo Collaborative Services, Inc.; Rochester Methodist Hospital; Saint Marys Hospital; Mayo Clinic Rochester; Mayo
Clinic Jacksonville, Florida; St. Luke’s Hospital, Jacksonville, Florida; Mayo Clinic Arizona; Mayo Clinic Hospital, Arizona; Mayo Regional Practices, P.C., Decorah, Iowa; and Mayo Health System West Central Wisconsin and controlled or
wholly-owned subsidiary corporations of all of the above. 
  
 “Affiliate” for ACCENTIA shall be an entity that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, ACCENTIA. For purposes of this defination,
“control” will mean the direct or indirect ownership of (a) at least fifty per cent (50 %) or the maximum percentage. if less than fifty per cent (50%), as allowed by applicable law, of the outstanding voting securities of such entity, or
(b) at least fifty per cent (50%) of the decision-making authority of such entity. 
  
 1.03 “Applicable Laws” shall be all laws, rules, regulations and guidelines within the Territory that may apply to the Development and Commercialization of an FDA Product or the performance of either Party’s
obligations under this Agreement including, where applicable, U.S. export control laws and the U.S. Foreign Corrupt Practices Act. 
  
 1.04 “Commercialization” shall be all steps that must be taken to put an FDA Product on the market in the Territory after all necessary Regulatory
Approvals have been obtained, including, without limitation, the manufacture, marketing and distribution of such FDA Product. 
  
 1.05 “Compound” shall be any antifungal Product, including but not limited to amphotericln-B, itraconazole or voriconanzole. 
  
 1.06 Compounding Pharmacy(ies) shall be pharmacies that provide prescription
fulfillment by extemporaneous compound preparation. 
  
 1.07
“Development” shall be the process of creating and assembling the data and files necessary to obtain Regulatory Approval for an FDA Product including, without limitation, all preclinical and clinical research and trials on such FDA
Product. 
  
 1.08 “Effective Date” shall be 10 February 2004.

  
 1.09 “FDA” shall be the Food and Drug
Administration. 
  
 1.10 “FDA Product” shall be a
Product that is approved by the FDA or appropriate European authority for use in the Field. 
  
 1.11 “Field” shall be the treatment of chronic rhinosinusitis. 
  
 1.12 “Know-How” shall be technical information and data provided by Jens Ponlkau, M.D. to ACCENTIA that relate to the treatment of chronic
rhinosinusitis. 
  

					
	 License Agreement
	  	 	  	page 3 of 21
	 ACCENTIA / Mayo
	  	Execution Copy	  	10 February 2004

  

 1.13 “License Quarter” shall begin on the Effective Date, and thereafter begins on the first day of
each January, April, July and October during the Term. 
  
 1.14 “License
Year” shall begin on the Effective Date, and thereafter begins on the first day of each January during the Term. 
  
 1.15 “Marketing Exclusivity” shall be any rights to which an FDA Product may be eligible in addition to or in lieu of Patent Rights including rights to
exclusivity provided in 21 U.S.C. §505, 21 U.S.C. §360aa-ee, the Orphan Drug Act, the marketing exclusivity provisions of Article (8)(a) of Directive 65/65/EEC Relating to Medicinal Products and any other legislation in the Territory
applicable to this Agreement providing for non-patent marketing exclusivity for any Product whether such legislation is operative on the Effective Date or becomes operative thereafter. 
  
 1.16 “Material Change” shall be 
  

	(a)	a merger or consolidation in which ACCENTIA will not be the surviving corporation, which is made without the express written consent of MAYO, not to be unreasonably withheld;

  

	(b)	any “person” (within the meaning of Section 13(d) and Section 14(d)(2) of the Securities Exchange Act 1934) is or becomes the beneficial owner, directly or indirectly, of
securities of ACCENTIA representing fifty percent (50%) plus one vote or more of the combined voting power of ACCENTIA’s then outstanding securities, which occurs without the express written consent of MAYO, not to be unreasonably withheld;

  

	(c)	ACCENTIA becomes insolvent or bankrupt, makes a general assignment for the benefit of its creditors, admits in writing its inability to pay its debts as they are due, permits the
appointment of a receiver for its business or assets or avails itself of or becomes subject to any proceeding under any statute of any governing authority relating to insolvency or the protection of rights of creditors; or 

 

	(d)	any material reorganization of ACCENTIA, such that the core competency of ACCENTIA is not the commercialization of pharmaceutical product in the United States.

  
 1.17 “Patent Rights” shall be U.S. Patent Nos.
6,207,703,6,291,500 and 6,555,566; U.S. Patent Application Serial Nos. 09/500,115 and 10/293,924; and European Application Number 98955065.2 and any continuation, continuation-in-part, division, substitution, reissue or reexamination filed after the
Effective Date of this Agreement from any of the foregoing, and any patents issuing from any of the foregoing. The patents and pending applications that constitute the Patent Rights as of the Effective Date are attached hereto as Exhibit B.

  
 1.18 “Patent Term Extensions” shall be the interim or
permanent extension of the term of any patents within the Patent Rights or claims covered by any Patent Rights for any Product, including FDA Product, for which MAYO may be eligible 

  

					
	 License Agreement
	  	 	  	page 4 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

 
under 35 U.S.C. §156 or any other U.S. or non-U.S. statute providing for extensions of patent terms. 
  
 1.19 “Patent Term Extension Information” shall be information within a
non-filing Party’s possession or control which may be requested by the Party responsible for filing and prosecuting an application or petition for a Patent Term Extension, such Information as may be requested by the PTO and execution of all
necessary documentation in connection therewith for the filing Party to make a timely and complete filing and prosecution of an application for a Patent Term Extension. 
  
 1.20 “Product” shall be (a) any product whose manufacture, use, sale, offer for sale or importation Infringes the Patent
Rights either directly or by contributory infringement or inducement of infringement (collectively “covered”); (b) any product which is applied using any method that is covered by the Patent Rights; or (c) any method covered by the Patent
Rights. 
  
 1.21 “PTO” shall be the U.S. Patent and Trademark
Office or other non-U.S. entity responsible for Issuing Letters Patent and Patent Term Extensions. 
  
 1.22 “Regulatory Authorities” shall be the governmental authorities in any country in the Territory responsible for Regulatory Approvals and post-marketing surveillance of any FDA Product. 

 
 1.23 “Regulatory Approval” shall be any approvals or clearances,
including any supplemental clearances or approvals required by Applicable Laws for any Commercialization, clinical experimentation or use of any FDA Product. In countries where pricing or reimbursement approval must be obtained for Commercialization
of the FDA Product, “Regulatory Approval” shall also include receipt of a pricing or reimbursement approval. 
  
 1.24 “Regulatory Review Period” shall be the period of time defined in 35 U.S.C. §156(g) and applicable to any FDA Product. 
  
 1.25 “Reports” shall be written summaries for an FDA Product describing
ACCENTIA’s efforts with respect to Development and Commercialization of an FDA Product, including, without limitation: 
  

	(a)	tests and research begun, ongoing or completed ; 

  

	(b)	any filings made with any Regulatory Authorities; 

  

	(c)	any plans prepared by or for ACCENTIA with regard to the Development or Commercialization of an FDA Product; 

  

	(d)	any assessment by ACCENTIA of the commercial potential of an FDA Product; 

  

	(e)	any Regulatory Approvals received; 

  

	(f)	a response to any comments that MAYO has made to any earlier Report, including of ACCENTIA’s rationale for rejecting any suggestion contained in such comments;

  

					
	 License Agreement
	  	 	  	page 5 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

	(g)	any changes in the performance milestones provided to MAYO under Section 2.02 and Exhibit A; 

  

	(h)	reports or minutes of any meetings with Regulatory Authorities, whether convened in person or otherwise; and 

  

	(i)	any other major regulatory event, including but not limited to, placement of a “clinical hold” on a trial. 

  
 1.26 “Sales” shall be the amount invoiced by ACCENTIA or Accentia Specialty
Pharmacy for sale of a Product or an FDA Product in the Territory to a third party that is not an Affiliate of ACCENTIA, less sales, excise or use taxes shown on the face of the invoice, less credits for defective or returned Products or FDA
Products, less all regular trade and discount allowances and with respect to FDA Products, any amount actually excluded or disallowed by Medicare, Medicaid, third party payer or insurance company. 
  
 1.27 “Sublicensee Revenue” shall be all revenue received by ACCENTIA for the
sublicensing of the Patent Rights, including but not limited to past damages, upfront payments, royalties and milestones. 
  
 1.28 “Term” shall begin on the Effective Date and ends, unless terminated earlier, upon the last to expire claim within the Patent Rights. 
  
 1.29 “ Territory” shall be United States and European Union. 
  
 Article 2 Development and Commercialization 
  
 2.01 Representations of ACCENTIA. As an inducement for MAYO to enter into this
Agreement, ACCENTIA represents to MAYO that ACCENTIA is experienced in the Development and Commercialization of products that are equivalent to any FDA Product that will be the subject of Development and Commercialization under this Agreement.
ACCENTIA also represents that it will use its best efforts to implement a program of Development and Commercialization of an FDA Product as soon as possible. To achieve this goal, ACCENTIA agrees to: 
  

	(a)	use the same degree of diligence with respect to its Development and Commercialization of an FDA Product that ACCENTIA uses with respect to the Development and Commercialization of
any of its own products; 

  

	(b)	bear all costs for the Development and Commercialization of an FDA Product; 

  

	(c)	secure any available Marketing Exclusivity for an FDA Product. 

  

	(d)	comply with all Applicable Laws in performing its obligations under this Agreement, including in connection with obtaining the Regulatory Approvals; and 

  

	(e)	perform in good faith all of its obligations under this Agreement. 

  
 2.02 Development Plans and Reports. Exhibit A presents ACCENTIA’s detailed plan for Development and Commercialization of an FDA Product and 

  

					
	 License Agreement
	  	 	  	page 6 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

 
projected performance milestones for accomplishing its plan. ACCENTIA also agrees to provide MAYO with Reports on or before May 1 and November 1 of each
License Year. Such Reports shall be in sufficient detail for MAYO to determine whether ACCENTIA is using best efforts to pursue the Regulatory Approvals and to protect the rights to Marketing Exclusivity, and to determine whether ACCENTIA is using
its best efforts for Commercialization of an FDA Product. 
  
 2.03 Provision of
Data to MAYO. ACCENTIA shall provide MAYO or its designee, on or before May 1 and November 1 of each year, with all raw data and research on any FDA Product, which research could reasonably be used to support any filing with a Regulatory
Authority with respect to an FDA Product. In the event of termination of this Agreement, ACCENTIA shall grant MAYO or its designee the written right to reference any information to a Regulatory Authority so supplied for the purpose of this Section
2.03. With respect to an FDA Product, such data and research results need not be country-specific to reasonably support a filing with a Regulatory Authority. 
  
 2.04 Receipt of Regulatory Approval. ACCENTIA shall notify MAYO within forty-eight (48) hours of receiving official notice of any
Regulatory Approval for any Product. 
  
 2.05 Cochleate Technology.
ACCENTIA agrees to acquire or obtain all rights owned or licensed by BioDelivery Sciences International, Inc. necessary to permit ACCENTIA to develop an FDA Product based on cochleated amphotericin-B without interference from BioDelivery
Sciences International, Inc. 
  
 2.06 Disclosure of Know-How. Within a
reasonable time after execution of this Agreement, MAYO shall make available to ACCENTIA the Know-How. MAYO, however, owns the materials in which the Know-How is embodied, including, but not limited to, prototypes, blueprints and plans and the
Know-How shall be considered confidential information of MAYO. ACCENTIA shall have the right to confer with the inventors (so long as they are employees of MAYO or its Affiliates) for such reasonable periods and at such times that are mutually
convenient, and as approved by MAYO. 
  
 Article 3.00 - Grant Of
Rights 
  
 3.01 Grant. Subject to Section 3.03, MAYO grants to
ACCENTIA: 
  

	(a)	i.     In the United States, an exclusive, non-sublicensable, royalty-bearing license under the Patent Rights to use, offer for sale, sell, develop, manufacture
and have manufactured, amphotericin-B and derivatives thereof as an FDA-Product; 

  

	 	ii.	In the European Union, an exclusive, sublicensable with MAYO’s written permission, royalty-bearing license under the Patent Rights to use, offer for sale, sell, develop,
manufacture and have manufactured, amphotericin-B and derivatives thereof as an FDA Product; 

  

					
	 License Agreement
	  	 	  	page 7 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

	(b)	an exclusive license (sublicensable only in accordance with Section 3.02 below) in the Territory to use, offer for sale, sell, import and manufacture, but not have manufactured,
Products, excluding FDA Products, for use in the Field; and 

  

	(c)	a nonexclusive license to use the Know-How to develop, manufacture, use and sell Products and FDA Products in the Field. 

  
 The Parties agree that Accentia Specialty Pharmacy will be the only ACCENTIA Affiliate that
will sell Product and FDA Product in the United States. 
  
 For the avoidance of
doubt, the license granted under Section 3.01(a) hereto is only for amphotericin-B and derivatives thereof, and not for any other antifungal drugs and ACCENTIA agrees not to seek FDA approval for any Product other than amphotericin-B for use in the
treatment of chronic rhinosinusitis. 
  
 The license grant under Section 3.01(b)
hereto and any sublicenses, both with respect to a specific Product thereunder, shall both automatically terminate upon the date ninety (90) days after marketing approval by the FDA of such Product for use in the Field. 
  
 3.02 Sublicenses.  
  

	(a)	ACCENTIA shall have the right to sublicense Compounding Pharmacies that are not Affiliates the rights under Section 3.01 (b) hereto to manufacture, use, offer for sale and sell
Compounds solely as non-FDA-approved Products, for use within the Field, provided that any such sublicense agreement shall be subject to MAYO’s prior written approval. ACCENTIA shall use reasonable commercial efforts to identify potential
sublicensees and negotiate and grant such sublicenses and will take MAYO’s advice and counsel regarding potential sublicensees. ACCENTIA shall not have the right to sublicense to any entity affiliated with ACCENTIA without MAYO’s prior
written consent. 

  

	(b)	Any sublicensee will agree not to seek FDA approval for any Product or Compound. 

  

	(c)	Sublicenses to Compounding Pharmacies shall be granted on a Compound- by-Compound basis. Such sublicenses shall be granted for a period of twelve (12) months and shall be subject to
renewal for additional twelve (12)-month periods, until an FDA Product is available. Any sublicense shall provide that the sublicense for each Compound shall automatically terminate as set forth in this Section 3.02(c). 

  

	(d)	All sublicenses shall contain provisions of the same scope as set forth herein for the benefit of MAYO, including without limitation name use and indemnification, and provide that
any such sublicenses may either be terminated or will revert to MAYO as set forth in Section 7.06 hereto should this Agreement terminate. ACCENTIA shall not grant any paid-up license or accept equity in consideration, directly or indirectly, for
such sublicenses, without MAYO’s prior written approval. 

  

					
	 License Agreement
	  	 	  	page 8 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

 3.03 Reservation of Rights. The grant of rights in Section 3.01 hereto is subject to: 
  

	(a)	the rights of the United States government, if any, in the Patent Rights and MAYO’s and its Affiliates’ reserved. irrevocable and royalty free right under the Patent
Rights to manufacture, have manufactured, and use, but not to sell or offer to sell, any Products, including FDA Products, solely in connection with MAYO’s and its Affiliates’ educational, research and clinical programs. For the avoidance
of doubt, MAYO reserves the right to continue to sell Products to MAYO’s customers that exist as of the Effective Date; and 

  

	(b)	In the event of the departure of Jens Ponlkau, M.D. from MAYO, Dr. Ponlkau’s reserved, non-excluslve, royalty free right to use the Patent Rights within the geographic location
of the medical facility, with which he is then employed, but without the right to sell or sublicense said Patent Rights to other third parties; and the reserved nonexclusive, royalty free right of the medical facility by which Dr. Ponikau is
employed, to use the Patent Rights solely for internal noncommercial purposes at said medical facility and solely during the period of Dr. Ponikau’s employment, such nonexclusive right to terminate with the termination or Dr. Ponikau’s
employment at said medical facility. 

  
 3.04 All Other Rights
Reserved. This Agreement does not grant a license to any patent or patent application not defined in the Patent Rights, or to any Patent Rights outside the Field or Territory. Except as granted in Section 3.01, no other license is granted by
MAYO under any intellectual property rights owned or controlled by MAYO, including any patents, know-how, copyrights, proprietary information and trademarks. All such rights are expressly reserved by MAYO. ACCENTIA acknowledges that in no event will
this Agreement be construed as an assignment by MAYO to ACCENTIA of any intellectual property rights. 
  
 3.05 Option. MAYO grants ACCENTIA a first option to negotiate for a license for (a) the Patent Rights to develop amphotericin-b and derivatives thereof in the field of the treatment of asthma and (b) an
immunotherapeutic for chronic rhinosinusitis (i.e. a therapy, if developed, that would mute a patient’s response to antigen). Should MAYO receive an inquiry from a third party regarding the commercial development of a product in either
of these areas, MAYO shall so inform ACCENTIA and will postpone negotiations with said third party for thirty (30) days to permit MAYO and ACCENTIA to negotiate a license agreement for the technology represented by either (a) or (b) above. If a
license is not concluded within the said thirty (30) days, MAYO shall have no further obligation to ACCENTIA regarding the technology under negotiation. 
  
 3.06 Confidentiality. During the Term, and for a period of three (3) years thereafter, ACCENTIA agrees to keep confidential by not disclosing to any third party
any information (i) relating to this Agreement, including the financial terms and conditions thereof, or (ii) transmitted to ACCENTIA by MAYO, including the Know-How, ACCENTIA may use this information solely as necessary for complying with the terms
and conditions of this Agreement. The obligations of non-disclosure and non-use will not apply when and to the extent such information: 
  

	(a)	becomes part of the public domain through no action or fault of ACCENTIA; or 

  

					
	 License Agreement
	  	 	  	page 9 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

	(b)	was in ACCENTIA’s possession before disclosure by MAYO, as demonstrated by ACCENTIA’s written records, and was not acquired, directly or indirectly, from MAYO; or

  

	(c)	was received by ACCENTIA from a third party having a legal right to transmit such information. 

  

	(d)	is required to be disclosed under law or federal regulation provided that ACCENTIA provides adequate notice to MAYO of the proposed disclosure in order to permit MAYO to determine
whether to protect the information from disclosure as applicable, e.g. a protective order, and provided further that such disclosure is only of the scope necessary to comply with the law or federal regulation. 

  
 At MAYO’s request, ACCENTIA will cooperate fully with MAYO, except financially, in any
legal actions taken by MAYO to protect its rights in the Patent Rights and Mayo’s information disclosed hereunder. 
  
 For avoidance of doubt, any violation of ACCENTIA’s obligations stated in this Section 3.06 constitutes a material breach of this Agreement. 
  
 3.07 Purchase at Cost. To the extent permitted by law and federal regulation, MAYO
may, at its sole option, purchase an FDA Product in any quantity at cost from ACCENTIA for use within MAYO’s and its Affiliates’ educational, research and clinical programs. 
  
 Article 4.00 - Consideration and Royalties. 
  
 4.01 Consideration. ACCENTIA will pay MAYO a cumulative up-front royalty of [*] DOLLARS (US $[*] ) as consideration for entering into
this Agreement, according to the following schedule: 
  

	(a)	[*] DOLLARS (US $[*]) paid five (5) business days of the Effective Date; 

  

	(b)	[*] DOLLARS (US $[*]) on or before 1 May 2004; and 

  

	(c)	[*] DOLLARS (US $[*]) on or before the earlier of 1 October 2004 or the effective date of the first sublicense executed by ACCENTIA. 

  
 This initial royalty is nonrefundable, and is not an advance or creditable against any other
royalties or payments otherwise due under this Agreement. 
  
 4.02 Earned
Royalties. ACCENTIA will pay MAYO earned royalties (“Earned Royalties”) according to the following schedule: 
  

	(a)	[*]% of Sales of an FDA Product; 

  

					
	 License Agreement
	  	 	  	page 10 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

	(b)	[*]% of Sales of all Products other than FDA Products; and 

  

	(c)	[*]% of Sublicensee Revenue; provided that for
purposes of sales of FDA Product in the European Union, ACCENTIA shall pay MAYO [*]% the amount invoiced by any ACCENTIA sublicensee to a third party, less the deductions permitted in the definition of Sales in Section 1.26 

 
 The Earned Royalties are payable as described In Section 5.01. In the event that ACCENTIA
is required to take a third party royalty-bearing license to permit the commercialization of Products of FDA Product, MAYO agrees to meet with ACCENTIA and discuss in good faith, on a case by case basis, whether to revise the royalty rates to
accommodate the third party royalty. 
  
 4.03 Minimum Royalties. In order
for ACCENTIA to maintain the exclusive license granted under Section 3.01(b) hereto ACCENTIA will pay MAYO minimum royalties of [*] (US [*]) in calendar year 2005, according to the following schedule; 
  

	(a)	$[*] on or before 31 March 2005; 

  

	(b)	$[*] on or before 30 June 2005; 

  

	(c)	$[*] on or before 30 September 2005; and 

  

	(d)	$[*] on or before 31 December 2005, 

  
 The Earned Royalties due and accrued under Section 4.02(b) and (c) within calendar year 2005 are fully creditable against minimum royalties due for said calendar year
2005. If the Earned Royalties do not equal or exceed the minimum royalty due, ACCENTIA will pay the difference or the exclusive license granted pursuant to Section 3.01(b) hereto shall become nonexclusive. 
  
 4.04 Patent Cost Reimbursement. ACCENTIA shall pay MAYO ONE HUNDRED FIFTY THOUSAND
DOLLARS (US $150,000) within five (5) business days of the Effective Date, as partial reimbursement of MAYO’s costs to obtain the Patent Rights. This payment is nonrefundable, and is not an advance or creditable against any other payment
otherwise due under this Agreement. 
  
 4.05 Milestone Royalties.
ACCENTIA shall pay Milestone Royalties to MAYO in relation to the development of an FDA Product, according to the following schedule: 
  

					
	a.	  	Start of Phase III (i.e. enrollment of the first subject in the first trial designed to serve as pivotal in a registration with the FDA)	  	 $[*]
 $[*]

  

					
	 License Agreement
	  	 	  	page 11 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

					
	 b.
	  	Filling of NDA	  	$[*]
			
	 c.
	  	Product Launch	  	$[*]

  
 Should ACCENTIA be the first company
to obtain approval for an FDA Product, the Milestone Royalty specified in Section 4.05(c) hereto shall not be due. 
  
 4.06 Interest. Any payment that is not made on or before the date when due under this Agreement shall accrue interest thereon from and including such date and
until but excluding the date of payment at the rate of one and one-half percent (1.5%) per month, or, if such rate is in excess of the rate then permitted by Applicable Laws, at the highest rate so permitted. 
  
 4.07 Taxes. ACCENTIA is responsible for all taxes (other than net income taxes),
duties, import deposits, assessments and other governmental charges, however designated, which are now or hereafter will be imposed by any authority in or for the Territory, (a) by reason of the performance by MAYO of its obligations under this
Agreement, or the payment of any amounts by ACCENTIA to MAYO under this Agreement; (b) based on the Patent Rights or use or sale of Products, including FDA Products; or (c) which relate to the import of Products, including FDA Products, into the
Territory. 
  
 4.08 No Deductions. All payments to be made by ACCENTIA to
MAYO under this Agreement represent net amounts MAYO is entitled to receive, and will not be subject to any deductions or offsets for any reason whatsoever. If such payments become subject to taxes, duties, assessments or fees of any kind levied in
the Territory, such payments from ACCENTIA will be increased to the extent that MAYO actually receives the net amounts due under this Agreement. 
  
 4.09 U.S. Currency. All payments to MAYO under this Agreement will be made by draft drawn on a United States bank, and payable in United States dollars.

  
 4.10 Material Breach. It shall be a material breach of this Agreement
if ACCENTIA falls to make any payment or report under this Agreement when such payment is due. 
  
 Article 5.00 - Accounting and Reports. 
  
 5.01 Payment. ACCENTIA will deliver to MAYO on or before the following dates: 1 February, 1 May, 1 August, and 1 November, a written report stating Sales on which Earned Royalties are based for the preceding
License Quarter, or stating the status of development of Products and FDA Products and of preparations to market Products and FDA Products if marketing has not yet begun. Each such report will be accompanied by the Earned Royalty payment due for
such License Quarter. 
  
 5.02 Accounting. ACCENTIA will keep
complete, true and accurate books of accounts and records sufficient to support calculation of Sales and all royalties payable to MAYO under this Agreement, such books and records will be kept at 

  

					
	 License Agreement
	  	 	  	page 12 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

 ACCENTIA’s principal place of business for at least three (3) years after the end of the License Year to which
they pertain, and will be open at all reasonable times for inspection by a representative of MAYO for verification of royalty statements or compliance with other aspects of this Agreement. The MAYO representative will treat as confidential all
relevant matters and will be a person or firm reasonably acceptable to ACCENTIA. In the event such audit reveals an underpayment by ACCENTIA, ACCENTIA will within thirty (30) days pay the royalty due in excess of the royalty actually paid. In the
event the audit reveals an underpayment by ACCENTIA of more than five percent (5%) of the amount due, ACCENTIA will pay interest on the royalty due in excess of the royalty actually paid at the highest rate then permitted by law. In either event,
ACCENTIA will pay all of MAYO’s costs in conducting the audit. Failure by ACCENTIA to make any payment required under this Section 5.02 constitutes a material breach of this Agreement 
  
 Article 6.00 - Warranties and Indemnification. 
  
 6.01 Use of Name and Logo. ACCENTIA will not use publicly for publicity, promotion, or
otherwise, any logo, name, trade name, service mark, or trademark of MAYO or its Affiliates, including, but not limited to, the terms “Mayo®,” “Mayo Clinic®,” and the triple shield Mayo logo, or any simulation, abbreviation, or adaptation of the same, or the name of any MAYO employee or agent, without
MAYO’s prior, written, express consent. MAYO may withhold such consent in MAYO’s absolute discretion. Violation of this Section 6.01 constitutes a material breach of this Agreement. 
  
 6.02 Representations of MAYO. MAYO hereby represents and warrants that:

  

	(a)	MAYO either owns or licenses all of the Patent Rights and has the exclusive right to grant licenses and sublicenses therefore without the consent or approval of any third party;

  

	(b)	To the best of MAYO’s knowledge, all the Patent Rights are in full force and effect and have been maintained to date; 

  

	(c)	to the best of MAYO’s internal patent counsel’s knowledge, without the duty to inquire, MAYO is not aware of any written asserted or unasserted claim or demand against the
Patent Rights; 

  

	(d)	MAYO has not entered into any agreement with any third party which is in conflict with the rights granted to ACCENTIA pursuant to this Agreement. 

  
 6.03 No Warranties. Nothing in this Agreement will be construed as: 
  

	(a)	a warranty or representation by MAYO as to the validity or scope of any of the Patent Rights; or 

  

	(b)	an obligation to bring or to prosecute actions against third parties for infringement of the Patent Rights; or 

  

	(c)	a warranty or representation that the manufacture, use, sale, offer for sale or importation of any Product, or the use or practice of any of the Know-How or Patent Rights are free
from infringement or misappropriation of a third party’s intellectual property rights. 

  

					
	 License Agreement
	  	 	  	page 13 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

 6.04 Disclaimer. EXCEPT AS PROVIDED IN SECTION 6,02 HEREIN, MAYO HAS NOT MADE AND PRESENTLY MAKES NO PROMISES,
GUARANTEES, REPRESENTATIONS OR WARRANTIES OF ANY NATURE, DIRECTLY OR INDIRECTLY, EXPRESS OR IMPLIED, REGARDING THE MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT OF THE PRODUCTS, KNOW-HOW OR PATENT RIGHTS, THE INFORMATION AND
PATENT RIGHTS PROVIDED OR LICENSED UNDER THIS AGREEMENT ARE PROVIDED “AS IS,” “WITH ALL FAULTS,” AND “WITH ALL DEFECTS,” AND ACCENTIA EXPRESSLY WAIVES ALL RIGHTS TO MAKE ANY CLAIM WHATSOEVER AGAINST MAYO FOR
MISREPRESENTATION OR FOR BREACH OF PROMISE, GUARANTEE OR WARRANTY OF ANY KIND RELATING TO THE PRODUCTS, KNOW-HOW OR PATENT RIGHTS. ACCENTIA Is solely responsible for determining whether the Patent Rights and Know-How licensed hereunder have
applicability or utility in ACCENTIA’s manufacturing and design activities, ACCENTIA assumes all risk and liability in connection with such determination. 
  
 6.05 Indemnification. ACCENTIA will defend, indemnify and hold harmless MAYO and MAYO’s Affiliates from any and all claims,
actions, demands, judgments, losses, costs, expenses, damages and liabilities (including but not limited to attorneys fees and other expenses of litigation), regardless of the legal theory asserted, arising out of or connected with: (a) use by
ACCENTIA of Patent Rights and Know-How licensed under this Agreement; (b) design, manufacture, distribution, use, sale or other disposition of Products, (Including without limitation FDA Products), by ACCENTIA or Its transferees or sublicensees; and
(c) any obligation of ACCENTIA hereunder. 
  
 As used in Sections 6.05 and
6.06, MAYO and Its Affiliates Include the trustees, officers, agents and employees of MAYO and its Affiliates. The Parties agree that the indemnity stated In this Section 6.05 should be construed and applied in favor of indemnification. ACCENTIA
will, during the Term, carry occurrence-based liability insurance, including products liability and contractual liability, in an amount and for a time period sufficient to cover the liability assumed by ACCENTIA hereunder, such amount being at least
FIVE MILLION DOLLARS (US $5,000,000). In addition, such policy will name MAYO as an additional-named insured. 
  
 6.06 Waiver of Subrogation. ACCENTIA expressly waives any right of subrogation that it may have against MAYO resulting from any claim, demand, liability, judgment, settlement, costs, fees (including
attorneys’ fees) and expenses for which ACCENTIA has agreed to Indemnify MAYO and Its Affiliates or hold MAYO and its Affiliates harmless under this Agreement. 
  
 6.07 Additional Waivers. ACCENTIA AGREES THAT MAYO WILL NOT BE LIABLE FOR ANY LOSS OR DAMAGE CAUSED BY OR ARISING OUT OF ANY
PERFORMANCE UNDER THIS AGREEMENT, WHETHER TO ACCENTIA OR A THIRD PARTY. IN NO EVENT WILL MAYO’S LIABILITY OF ANY KIND INCLUDE ANY SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL OR PUNITIVE LOSSES OR DAMAGES, EVEN IF 

  

					
	 License Agreement
	  	 	  	page 14 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

 
MAYO HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, IN NO CASE WILL MAYO’S LIABILITY OF ANY KIND EXCEED THE TOTAL ROYALTIES WHICH HAVE ACTUALLY
BEEN PAID TO MAYO BY ACCENTIA AS OF THE DATE OF FILING OF THE ACTION AGAINST MAYO WHICH RESULTS IN THE SETTLEMENT OR AWARD OF DAMAGES. 
  
 Article 7.00 - Term and Termination. 
  
 7.01 Term. This Agreement will enter into effect as of the Effective Date and, unless terminated earlier, expire upon expiration of the Term. 
  
 7.02 Termination for Breach. If ACCENTIA commits a material breach of this Agreement,
including without limitation any breach identified in this Agreement as a material breach, MAYO may notify ACCENTIA in writing of such breach and ACCENTIA will have thirty (30) days after such notice becomes effective as set forth in Section 10.05
to cure such breach to MAYO’s satisfaction. If ACCENTIA fails to cure such breach, MAYO may, at its option, terminate this Agreement in whole or in part by sending ACCENTIA written notice of termination. 
  
 7.03 Termination for Other than Material Breach 
  

	(a)	Default of Development and Commercialization Obligations. In the event that ACCENTIA does not meet the developmental timeline specified in Exhibit A hereto, ACCENTIA agrees
to promptly consult with MAYO in order to agree upon a Development and Commercialization plan that will be satisfactory to MAYO. In the event that the Parties cannot agree upon such a modified plan within ten (10) business days of such notification,
the license granted in Section 3.01(a) hereto shall become nonexclusive as of the end of said ten (10) day period. ACCENTIA agrees to do all things and acts reasonably requested by MAYO to ensure that reversion of all exclusivity rights takes place
promptly. 

  

	(b)	Termination for Material Change. This Agreement will automatically terminate, without notice, upon a Material Change, unless otherwise noted in Section 1.17.

  

	(c)	Termination for Failure to file NDA. If ACCENTIA has not filed a New Drug Application (“NDA”) on or before 10 February 2009 or does not pay MAYO TEN MILLION
DOLLARS (US $10,000,000), exclusive of any royalties or payments made by ACCENTIA previously hereunder on or before 17 February 2009, all licenses granted in Section 3.01 hereto shall terminate, and any existing sublicenses shall, upon MAYO’s
choice, terminate or revert to MAYO. 

  
 7.04 Effect of
Termination or Expiration. Upon termination or expiration of this Agreement, all licenses granted hereunder shall immediately terminate and all 

  

					
	 License Agreement
	  	 	  	page 15 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

 
sublicenses granted hereunder may be terminated or revert to MAYO, upon MAYO’s choice. 
  
 7.05 Survival. The following obligations survive the expiration or termination of this Agreement: 
  

	(a)	ACCENTlA’s obligation to supply reports and data covering the time period up to the date of termination or expiration; 

  

	(b)	MAYO’s right to receive payments, fees, and royalties accrued or accruable from payment at the time of any termination or expiration; 

  

	(c)	ACCENTlA’s obligation to maintain records, and MAYO’s right to have those records inspected; 

  

	(d)	any cause of action or claim of MAYO, accrued or to accrue, because of any action or omission by ACCENTIA; and 

  

	(e)	ACCENTlA’s obligations stated in Sections 3.06, 3.07, 6.01, 6.03 through 6.07, 7.05 and Article 10, 

  
 Article 8.00 - Patent Filing, Prosecution and Maintenance 
  
 8.01 Maintenance of the Marketing Exclusivity Rights. ACCENTIA shall be responsible
for taking all necessary steps to prosecute, perfect and maintain the Marketing Exclusivity Rights for an FDA Product, including taking any actions necessary to ensure that the Parties will receive notification within time limits to protect the
Marketing Exclusivity Rights, including, but not limited to, providing the Regulatory Authorities with all requisite Information about any rights to any Patents relating to a FDA Product, whether they arise before or after a Regulatory
Approval. 
  
 8.02 Patent Term Extensions 
  

	(a)	Agency. MAYO hereby appoints ACCENTIA as its sole agent for the purposes of filing Patent Term Extension for U.S Patent No 6,555,566 and any other patents within the Patent
Rights MAYO may designate. ACCENTIA will do all things useful or necessary in order to seek and obtain such Patent Term Extension. ACCENTIA will not seek and will not become an agent seeking Patent Term Extension for any third party on any Product,
including FDA Product. In the event this Agreement is terminated or the exclusivity of the license for FDA Product is terminated, ACCENTIA hereby irrevocably grants to MAYO the exclusive right to rely on any Regulatory Review Period for any Product.
In the event of any request from the PTO for assurances that MAYO, has the right to rely on the Regulatory Review Period, this section shall be conclusive evidence of ACCENTlA’s consent that MAYO has such right for any Product. ACCENTIA may not
transfer, assign, license, mortgage or hypothecate in whole or in part to any person, whether voluntarily or Involuntarily its right to a Regulatory Review Period for any Product without the prior written consent of MAYO. 

 

					
	 License Agreement
	  	 	  	page 16 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

	(b)	Assistance. ACCENTIA agrees to do all things that MAYO determines are necessary to ensure the timely and complete filing and prosecution of any application for a Patent Term
Extension with the PTO for any Product. ACCENTlA’s duties shall include, but not be limited to, providing MAYO with the Patent Term Extension Information. 

  

	(c)	Time of the Essence. The Parties agree that, due to the statutory and regulatory deadlines for filing Patent Term Extensions, time is of the essence for the performance of
all acts and obligations under this Section 8.02. 

  

	(d)	Choice of Patents. In the event that more than one patent within the Patent Rights for an FDA Product could be the subject of an application for a Patent Term Extension,
ACCENTIA agrees to permit MAYO to select the patent. 

  
 8.03
Disclosure of Research Information in Regulatory Filings. Nothing contained herein is intended to prevent either Party from using confidential information to make filings with Regulatory Authorities to obtain Regulatory Approvals, to prosecute
patents within the Patent Rights for any Product hereunder or in disclosure documents prepared by either Party to comply with applicable securities laws; provided, however, that the Parties agree to notify the other Party and obtain its prior
consent before making such disclosures. 
  
 8.04 Patent Prosecution. MAYO
will have the sole right to prepare, file, prosecute, maintain, abandon, terminate or otherwise handle the Patent Rights in its sole discretion, at MAYO’s expense. MAYO will have no liability to ACCENTIA for any act or omission in the
preparation, filing, prosecution, maintenance, enforcement or other handling of the Patent Rights. MAYO shall afford ACCENTIA the opportunity to review and comment upon office actions and continuations, contilnuations-in-part and divisional filings
that relate solely to the treatment of chronic rhinosinusitis. MAYO will not abandon all applications with the Patent Rights that can claim the benefit of the filing date of 22 October 1998 without first affording ACCENTIA an opportunity to assume
prosecution of such application at ACCENTlA’s cost for the benefit of MAYO. 
  
 Article 9.00 - Patent Rights Enforcement. 
  
 9.01 Infringement by Third Party. ACCENTIA will promptly inform MAYO of any suspected infringement of any Patent Right, and MAYO and ACCENTIA will have the right to institute an action for Infringement of the Patent Rights consistent
with the following; 
  

	(a)	If MAYO and ACCENTIA agree to institute suit jointly, then the suit will be brought in the names of both Parties. ACCENTIA will exercise control over such action, provided, however,
that MAYO may, If it so desires, be represented by counsel of its own selection, and at its own expense. 

  

					
	 License Agreement
	  	 	  	page 17 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

	(b)	In the absence of an agreement to institute a suit jointly, MAYO may institute suit and, at its option, join ACCENTIA as a plaintiff. MAYO will bear the entire cost of such
litigation, Including attorneys’ fees. ACCENTIA will cooperate reasonably with MAYO, except financially, in such litigation. 

  

	(c)	In the absence of an agreement to institute a suit jointly, and if MAYO determines not to institute a suit, as provided in paragraph. (b) of this Section 9.01, then ACCENTIA may
institute suit upon MAYO’s approval. In such case, ACCENTIA will bear the entire cost of such litigation, including attorneys’ fees and shall be permitted to credit one-third of such expenses to Earned Royalties on a yearly basis. MAYO
will cooperate reasonably with ACCENTIA, except financially, in such litigation and ACCENTIA will indemnify MAYO and its Affiliates, including the trustees, officers, agents, and employees of the foregoing, in respect to any damages or other costs
of any type arising out of or relating to such enforcement. 

  

	(d)	ACCENTIA will not settle or enter into a voluntary disposition of the action without MAYO’s prior written consent. 

  
 9.02 Third Party litigation. In the event a third party institutes a suit against
ACCENTIA for patent infringement involving an FDA Product, ACCENTIA will promptly inform MAYO and keep MAYO regularly informed of the proceedings. In the event the third party sues or joins MAYO, MAYO will have the right to control the defense of
the suit. Each Party will bear its own costs of the suit and any recovery will be shared equally by the Parties. 
  
 9.03 Patent Marking. To the extent commercially feasible, ACCENTIA will mark all Products that are manufactured or sold under this Agreement with the number of
each issued patent with the Patent Rights that cover such Product(s). Any such marking will be in conformance with the patent laws and other laws of the country of manufacture or sale. 
  
 Article 10.00 - General Provisions. 
  
 10.01 Assignment and Subcontract. ACCENTIA is strictly prohibited from assigning its
obligations or rights under this Agreement without MAYO’s prior, express, written consent, which consent shall not be unreasonably withheld. Any other attempted assignment or subcontract is void. This Agreement is personal to the
Parties. 
  
 10.02 Waiver. The failure of either Party to complain
of any default by the Other Party or to enforce any of such Party’s rights, no matter how long such failure may continue, will not constitute a waiver of the Party’s rights under this Agreement. The waiver by either Party of any breach of
any provision of this Agreement shall not be construed as a waiver of any subsequent breach of the same or any other provision. No part of this Agreement may be waived except by the further written agreement of the Parties. 
  

					
	 License Agreement
	  	 	  	page 18 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

 10.03 Governing Law and Jurisdiction. This Agreement is made and performed in Minnesota. It is governed by
Minnesota law, but specifically not including Article 2 of the Uniform Commercial Code as enacted in Minnesota. This is not an Agreement for the sale of goods. In addition, no Minnesota conflicts-of-law or choice-of-laws provisions apply to this
Agreement. The exclusive fora for actions between the Parties in connection with this Agreement are the State District Court sitting in Olmsted County, Minnesota, or the United States Court for the District of Minnesota. ACCENTIA agrees
unconditionally that it is personally subject to the jurisdiction of such court. 
  
 10.04 Headings. The headings of articles and sections used in this document are for convenience of reference only, and shall not affect the meaning or interpretation of this Agreement unless the context requires otherwise.

  
 10.05 Notices. All notices and other business communications between
the Parties related to this Agreement shall be in writing, sent by certified mail, addressed as follows: 
  
 If to MAYO: 
  
 Mayo Foundation for Medical Education and Research 
 200 First Street SW 
 Rochester, Minnesota 55905-0001 
  
 Attn: Susan L. Stoddard, Ph.D. 
 Office of
Technology Commercialization, Mayo Medical Ventures 
 507-284-7787 (voice) 
 507-284-5410 (fax) 
 email:
sstoddard@mayo.edu 

	 	With a copy to:	Mayo Legal Department 

	 	  	Attn: General Counsel 

  
 If to ACCENTIA: 
  
 Attn: Frank
E. O’Donnell, Jr 
 Chairman and CEO 
 Accentla Specialty Blopharmaceuticals 
 709 The Hamptons Lane 
 Town and Country, Mo, 63017 
  
 314 579 9725 
 314 434 7030 (fax) 

email: feomdjr@ao|.com 
  
 Notices sent by certified mail shall be deemed delivered on the third day following the date of mailing. Either party may change its address or facsimile number by giving
written notice in compliance with this section. 
  
 10.06 Independent
Contractors. It is mutually understood and agreed that the relationship between the Parties is that of independent contractors. Neither 

  

					
	 License Agreement
	  	 	  	page 19 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

 
Party is the agent, employee, or servant of the other. Except as specifically set forth herein, neither Party shall have nor exercise any control or
direction over the methods by which the other Party performs work or obligations under this Agreement. Further, nothing in this Agreement is intended to create any partnership, joint venture, lease, or equity relationship, expressly or by
implication, between the Parties. 
  
 10.07 Entire Agreement. This
Agreement constitutes the final, complete and exclusive agreement between the Parties with respect to its subject matter and supercedes all past and contemporaneous agreements, promises, and understandings, whether oral or written, between the
Parties 
  
 10.08 Unenforceable Provision. The unenforceability of
any part of this Agreement will not affect any other part. This Agreement will be construed as if the unenforceable parts had been omitted. 
  
 10.09 Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties, their heirs, legal representatives, successors and
assigns. 
  
 10.10 Severability. In the event any provision of this
Agreement is held to be invalid or unenforceable, the remainder of this Agreement shall remain in full force and effect as if the invalid or unenforceable provision had never been a part of the Agreement. 
  
 10.11 Amendments. This Agreement may not be amended or modified except by a writing
signed by both Parties and identified as an amendment to this Agreement. 
  
 10.12 Nondisclosure. Neither Party will disclose any of the financial terms of this Agreement without the express, prior, written consent of the other Party, or unless required by law. 
  

									
	 MAYO FOUNDATION FOR MEDICAL EDUCATION AND RESEARCH:

				
	 /s/ Rick F. Colvin
	 	 	 	 	 	2/10/04
	 RICK F. COLVIN
	 	 	 	 	 	DATE
	 ASSISTANT TREASURER
	 	 	 	 	 	 
				
	 ACCENTIA:
	 	 	 	 	 	 
				
	 /s/ Frank E. O’Donnell, Jr.
	 	 	 	 	 	2/10/04
	NAME:	 	 FRANK E. O’DONNELL, JR MD
	 	 	 	 	 	DATE
	TITLE:	 	 CHAIRMAN & CEO
	 	 	 	 	 	 

  

					
	 License Agreement
	  	 	  	page 20 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

 EXHIBIT A 
 DEVELOPMENT MILESTONES 
  

					
		
	Meeting with the FDA	  	Within [*] of the Effective Date
		
	File IND	  	Within [*] of the Effective Date1
		
	Should FDA require Phase I or II studies	  	 
			
	 	 	Start Phase I	  	Within [*] of approval of IND by FDA
			
	 	 	Start Phase II	  	Within [*] of clearance from FDA to proceed
			
	 	 	Start Phase III	  	Within [*] of clearance from FDA to proceed
			
	 	 	File NDA	  	Within [*] of completing registration Phase III study, subject to Section 7.03(c) hereto
		
	Should FDA permit moving directly to Phase III studies	  	 
			
	 	 	Start Phase III	  	Within [*] of approval of IND by FDA
			
	 	 	File NDA	  	Within [*] completing registration phase III study, subject to Section 7.03(c) hereto.

	1	The IND may be filed up to [*] from the Effective Date in the event that: (a) the FDA has
agreed to initiate clinical trial under the IND with a Phase III protocol, and (b) the FDA consequently requires chronic toxicology data to support the original IND. 

  

					
	 License Agreement
	  	 	  	page 21 of 21
	 Accentia / Mayo
	  	Execution Copy	  	10 February 2004

  

 EXHIBIT B 
 PATENT AND PATENT APPLICATIONS 
 CONSTITUTING PATENT RIGHTS AS OF THE EFFECTIVE DATE 

 

  
 FIRST AMENDMENT

  
 First Amendment to the License Agreement between Accentia Specialty
Biopharmaceuticals, Inc. (“ACCENTIA”) and Mayo Foundation for Medical Education and Research (“MAYO”) and release of claims (“Amendment”). 
  
 Whereas, the parties entered into a license agreement, effective February 10, 2004 (“License Agreement”); 
  
 Whereas, the parties desire to amend the License Agreement, including an expansion of the
Territory and the addition of a new indication to the Field; 
  
 Whereas, the
parties acknowledge the execution of the Consent and Agreement, and upon execution of this Amendment, that the License Agreement is in good standing and that neither party is in breach; and 
  
 Whereas, in consideration thereof, including ACCENTIA and its Affiliates’ release,
waiver and discharge of any claims they may have against MAYO and its Affiliates for payments related to Products that may have accrued prior to the Effective Date of this Amendment and the revised payments as set forth below, the parties agree as
follows. 
  
 1. The first paragraph of the License Agreement is hereby replaced
with the following: “This license agreement (“Agreement”) is by and among Mayo Foundation for Medical Education and Research, a Minnesota charitable corporation, located at 200 First Street SW, Rochester, Minnesota 55905-0001
(“MAYO”) and Accentia Biopharmaceuticals, Inc. and Accentia Specialty Pharmacy, Inc., a subsidiary of Accentia, Inc., both Florida corporations having a place of business at 5310 Cypress Center Drive, Suite 101, Tampa, Florida, 33609
(collectively, “ACCENTIA”); each a “Party”, and collectively, “Parties”. 
  
 2. The definition of “Field” is replaced in its entirety with: ““Field” shall be the treatment of chronic rhinosinusitis and/or asthma.” 
  
 3. The definition of “Know-How” is replaced in its entirety with:
““Know-How” shall mean technical information and data provided by Jens Ponikau, M.D., or any other MAYO employee working with Dr. Ponikau and ACCENTIA, that relate to the treatment of chronic rhinosinusitis and/or asthma.”

  
 4. The definition of “Territory” is replaced in its entirety with:
““Territory” shall mean worldwide.” 
  
 4.1 The following
provisions shall be added to the end of Section 1.16: 
  
 (e) Notwithstanding
anything herein to the contrary, none of the events described in Section 1.16(a), (b) and (d) shall constitute a Material Change if (i) ACCENTIA is a public reporting company under the Securities Exchange Act of 1934, (ii) at least one of 

  

 
the core competencies of ACCENTIA is the commercialization of pharmaceutical products in the United States, (iii) such event does not have an adverse effect
upon the Mayo name as reasonably determined by MAYO and (iv) such event does not result in MAYO losing any of its rights or protections under this Agreement. 
  
 (f) If a Material Change occurs, other than a Material Change under Section 1.16(c), MAYO may notify ACCENTIA in writing of such breach and
ACCENTIA will have thirty (30) days after such notice becomes effective as set forth in Section 10.05 to cure such breach to MAYO’s satisfaction. If ACCENTIA fails to cure such breach, MAYO may, at its option, terminate this Agreement in whole
or in part by sending ACCENTIA written notice of termination. 
  
 4.2 The
reference to “Section 1.17” in Section 7.03(b) of this Agreement shall be deleted and replaced with “Section 1.16.” 
  
 4.3 Section 1.17 is revised to insert “foreign counterparts of the foregoing including” before “European Application No. 98955065.2”. 
  
 4.4 Section 1.26 is revised to delete “with respect to FDA Products,” and to insert
at the end of the last sentence “for a Product or FDA Product”. 
  
 5.
The first sentence of Section 2.06 is replaced with: “Within a reasonable time after execution of this Agreement, MAYO shall make available to ACCENTIA the Know-How relating to chronic rhinosinusitis and within a reasonable time after execution
of this Amendment, Mayo will make Know-How relating to asthma available to ACCENTIA.” 
  
 5.1 Section 3.01(a) is replaced with: “In the Territory, an exclusive, sublicensable with MAYO’s written consent, royalty-bearing license under the Patent Rights to use, offer for sale, sell, develop,
manufacture and have manufactured, amphotericin-B and derivatives thereof as an FDA Product;” 
  
 6. The second to last paragraph in Section 3.01 is revised to include “and/or asthma” after “chronic rhinosinusitis” and includes “and its derivatives” after “amphotericin-B”.

  
 7. The “or” in the last line of Section 3.03(b) is replaced with
“of”. 
  
 7.1 The following sentence is added to Section 3.06 after
Subsection (d): “MAYO agrees that ACCENTIA plans to file a registration statement under the Securities Act of 1933 and that it is not prohibited or restricted by this Section 3.06 from making any disclosure of or regarding this Agreement
required by law. Any use of the Mayo name will require approval as set forth in Section 6.01.” 
  

 8. The introduction to Section 4.01 is amended to change “[*] DOLLARS (US $[*])” to “[*] DOLLARS (US
$[*]).” Section 4.01 (c) is replaced with: 
  
 “[*] DOLLARS (US $[*])
payable as follows: 
  
 (i) [*] DOLLARS ($[*]) on or before
November 11, 2004; and 
  
 (ii) [*] DOLLARS ($[*]) on or before
December 15, 2004.” 
  
 9. The first sentence of Section 4.02 (a) is revised
to insert “for treatment of chronic rhinosinusitis” after “Product”. 
  
 10. The following sentence is added to the last sentence of Section 4.02: “The Earned Royalty for Sales of FDA Products for Asthma shall be [*] of such Sales.” 
  
 11. Section 4.03 is replaced with: “In order for ACCENTIA to maintain the licenses
granted under Article 3.00, ACCENTIA will pay MAYO minimum royalties of [*] in calendar year 2005, according to the following schedule: 
  
 (a) [*] on or before March 31, 2005; 
  
 (b) [*] on or before June 30, 2005; 
  
 (c) [*] on or before September 30, 2005; and 
  
 (d) [*] on or before December 31, 2005. 
  
 The Earned Royalties due and accrued under Section 4.02(b) and (c) within calendar year 2005 are fully creditable against minimum royalties due for said calendar year
2005. If the Earned Royalties do not equal or exceed the minimum royalty due, ACCENTIA will pay the difference by the time each such payment is due. Should the Minimum Royalties actually paid to Mayo in 2005, when such royalties are due, exceed the
Earned Royalties paid for such periods, MAYO shall credit ACCENTIA this amount toward future Earned Royalties until credited in full. Failure to make the payments when such payments are due constitutes a material breach of this Agreement.

  
 12. Section 4.04 is revised to include the following sentence after the first
sentence: “ACCENTIA will pay MAYO an additional [*] DOLLARS ($[*]) within thirty (30) days of the first to occur of ACCENTIA’s initial public offering or April 1, 2005.” 
  
 13. The lead-in sentence of Section 4.05 is replaced with: “ACCENTIA shall pay Milestone Royalties to MAYO in relation to the
development of an FDA Product for chronic rhinosinusitis, according to the following schedule:” 
  
 14. Section 4.05(b) is revised by replacing: [*] with [*] 
  

 The following sentence is added to the end of Section 4.05: “These payments are non-refundable and are not an
advance or creditable against any royalty or other payment otherwise due under this Agreement.” 
  
 16. New Section 4.11 is added: “Milestone Royalties, Asthma. ACCENTIA shall pay Milestone Royalties to MAYO in relation to the development of an FDA Product for asthma according to the following schedule:

  
 a. $[*] upon completion of the first human clinical study with
a minimum of twenty-five (25) patients showing positive results for treatment of asthma; 
  
 b. $[*] upon filing of the initial IND for asthma; 
  
 c. $[*] upon filing of the initial NDA for asthma; and 
  
 d. $[*] within ninety (90) days after the first commercial sale of the initial FDA Product for asthma. These payments are non-refundable and are not an advance or creditable against any royalty or other payment
otherwise due under this Agreement.” 
  
 17. New Section 4.12 is added:
“Stock. ACCENTIA will pay MAYO an up-front royalty of TWO MILLION FOUR HUNDRED THOUSAND (2,400,000) shares of Series E Convertible Preferred Stock (the “Shares”), pursuant to the terms of a subscription agreement, dated
December     , 2004 by and between ACCENTIA and MAYO, on or before 15 December, 2004. This payment of shares is nonrefundable, and is not an advance or creditable against any royalty or other payment otherwise due under
this Agreement.” 
  
 18. New Section 6.08 is added: “Authorization.
All corporate action on the part of ACCENTIA necessary for the due authorization, execution and delivery of this Agreement, and for the due authorization and issuance of the Shares, has been taken. This Agreement is the legal, valid and binding
agreement of ACCENTIA, enforceable in accordance with its terms. The execution, delivery and performance by ACCENTIA of this Agreement and the issuance of the Shares will not result in any violation of or be in conflict with, or result in a breach
of or constitute a default under, the articles of incorporation or bylaws of ACCENTIA, any agreement to which ACCENTIA is a party or by which it is bound, or any law to which ACCENTIA is subject. The Shares, when issued pursuant to the terms of this
Agreement, will be validly issued and outstanding, fully paid, nonassessable shares and shall be free and clear of all pledges, liens, encumbrances and restrictions.” 
  
 18.1 Section 7.02 is revised to insert after the last sentence: “Except as otherwise provided in Section 7.03(a), if ACCENTIA fails to
cure a material breach of its obligations under this Agreement relating to chronic rhinosinusitis, the license in the Field of chronic rhinosinusitis will be terminated, and/or if ACCENTIA fails to cure a material breach of its obligations under
this Agreement relating to asthma, the license in the Field of asthma will be terminated.” 
  

 18.2 In Section 7.03(a), the second sentence is amended to add “for that indication (i.e., chronic rhinosinusitis or
asthma)” after “shall become nonexclusive.” 
  
 18.3 In Section
8.04 the third sentence is revised to add “and/or asthma” after “treatment of chronic rhinosinusitis.” 
  
 19. ACCENTIA, on behalf of itself and its AFFILIATES (including Accentia Specialty Biopharmaceuticals, Inc.) hereby releases, waives and forever discharges MAYO and its
AFFILIATES from any and all claims, causes of action, obligations and the like ACCENTIA and its AFFILIATES may have that MAYO or its AFFILIATES owes any money or other consideration to ACCENTIA for the manufacture, sale or use of any Products prior
to the Effective Date of this Amendment. ACCENTIA represents and warrants to MAYO and its AFFILIATES that it has the legal power and right to agree to the foregoing on behalf of itself and its AFFILIATES (including Accentia Specialty
Biopharmaceuticals, Inc.). 
  
 20. The Effective Date of this Amendment is
December 12, 2004. 
  
 21. Exhibit A is revised in the “File IND column”
from “[*]” to “[*]” ACCENTIA may purchase one (1) month extensions by paying MAYO FIVE THOUSAND DOLLARS (US $5,000) for each extension prior to the date which such deadline ends. Exhibit A is also revised to include the same
Development Milestones for Asthma, wherein the Effective Date is and the relevant dates are calculated from the date which is the earlier of the completion of the 25 patient uncontrolled clinical trial referenced in Subsection 4.11 (a) that
demonstrates clinical and statistical efficacy or [*] from the Effective Date of this Amendment. The revised Exhibit A is attached hereto. 
  
 22. Section 3.05(a) is deleted. 
  
 23. Section 10.09 is revised to insert after the last sentence: ACCENTIA hereby assumes all of Accentia Specialty Biopharmaceuticals, Inc.’s obligations and liabilities arising under this Agreement as it may be
amended from time to time. 
  

			
	 “ACCENTIA”
  
 Accentia Biopharmaceuticals, Inc.

		
	 By:
	 	/s/    Frank O’Donnell
	 	 	 

  

			
	Accentia Specialty Pharmacy, Inc.
		
	 By:
	 	/s/    Steve Arikian
	 	 	 

  

			
	Mayo Foundation for Medical Education and Research
		
	 By:
	 	/s/    Sherry Hubert
	 	 	 Asst. Secretary

  

  
 Exhibit A 

Development Milestones 
  
 Development Milestones for Chronic Rhinosinusitis 
  

			
	 Meeting with the FDA
	  	Within [*] of the Effective Date
	 File IND
	  	Within [*] of the Effective Date
	 Should FDA require Phase I or II studies
	  	 
	 Start Phase I
	  	Within [*] of approval of IND by FDA
	 Start Phase II
	  	Within [*] of clearance from FDA to proceed
	 Start Phase III
	  	Within [*] of clearance from FDA to proceed
	 File NDA
	  	Within [*] of completing registration Phase III study, subject to Section 7.03(c) hereto
	 	  	 
	 Should FDA permit moving directly to Phase III studies
	  	 
	 Start Phase III
	  	Within [*] of approval of IND by FDA
	 File NDA
	  	Within [*] of completing registration phase III study, subject to Section 7.03(c) hereto.

  

  
 Development Milestones for
Asthma 
  

			
	 Meeting with the FDA
	  	Within [*] of the Effective Date
	 File IND
	  	Within [*] of the Effective Date
	 Should FDA require Phase I or II studies
	  	 
	 Start Phase I
	  	Within [*] of approval of IND by FDA
	 Start Phase II
	  	Within [*] of clearance from FDA to proceed
	 Start Phase III
	  	Within [*] of clearance from FDA to proceed
	 File NDA
	  	Within [*] of completing registration Phase III study
	 Should FDA permit moving directly to Phasse III studies
	  	 
	 Start Phase III
	  	Within [*] of approval of IND by FDA
	 File NDA
	  	Within [*] of completing registration phase III study

  

  
 Exhibit A 

SUBSCRIPTION AGREEMENT 
  
 Dear Sirs: 
  
 1. SUBSCRIPTION. Pursuant to Section 4.12 of the Amendment to the License Agreement between Mayo Foundation for Medical Education and Research (“MAYO” or “Subscriber”), Accentia
Biopharmaceuticals, Inc. (the “Company”) and Accentia Specialty Pharmacy, Inc. First Amendment dated December 23, 2004 (as amended, the “License Agreement”), MAYO hereby subscribes for Two Million Four Hundred Thousand
(2,400,000) shares of Series E Convertible Preferred Stock of the Company (“Series E Preferred Shares”) pursuant to Rule 506 of Regulation D under the Securities Act of 1933, as amended. The Series E Preferred Shares shall be fully paid on
the date of issuance. 
  
 2. REPRESENTATIONS.

  
 2.1 Subscriber represents and warrants to the Company as follows: 

 
 (a) It is acquiring the Series E Preferred Shares for
investment and not with a view for resale or distribution of the shares; 
  
 (b) it agrees that the right to transfer the Series E Preferred Shares and the shares of Common Stock into which the shares of Series E Preferred Shares may be converted (the “Converted Shares”), is
restricted in accordance with state and federal securities laws; 
  
 (c) Subscriber is an “accredited investor” as defined in Regulation D promulgated under the Securities Act; 
  
 (d) The per-share purchase price of the shares of Series E Preferred Shares was established by negotiation between the Company and
Subscriber and Subscriber may experience substantial dilution to my investment; 
  
 (e) the Series E Preferred Shares and the Converted Shares are not publicly traded over any recognized exchange or at all, and there can
be no assurance that the Company’s securities will ever be publicly traded and that the Series E Preferred Shares being subscribed for hereunder are considered by Subscriber to be non-tradable and illiquid; 
  
 (f) The Company is subject to a high degree of risk; and

  
 (g) Subscriber did not use, and is not
obligated to pay any commission or other fee to, any finder or broker in connection with this transaction. 
  
 2.2 The Company represents and warrants to Subscriber as follows: 
  
 (a) The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Florida; 

 
 (b) The Company has all requisite corporate power and
authority to own and operate its properties and to carry on its business as presently conducted and as proposed to be conducted; 
  
 (c) The Company has all requisite legal and corporate power (i) to execute and deliver this Agreement and all listed exhibits hereto, (ii)
to issue the Series E 

  

 
Preferred Shares hereunder, (iii) to issue the Converted Shares at conversion of the Series E Preferred Shares, and (v) to carry out and perform its
obligations under the terms of this Agreement; 
  
 (d) The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure to so qualify would have a material adverse effect on its business, operations, assets, liabilities, properties,
prospects, condition or affairs, financially or otherwise; 
  
 (e) The Series E Preferred Shares, when issued, sold and delivered in accordance with the terms hereof for the consideration expressed herein, will be duly and validly issued, fully paid, non assessable and free of
any liens or encumbrances and free of restrictions on transfer other than restrictions on transfer under this Agreement and applicable state and federal securities laws. Based in part upon the representations of Subscriber in this Agreement, the
Series E Preferred Shares and the Converted Shares will be issued in compliance with all applicable federal and state securities laws. The Converted Shares issued upon conversion of the Series E Preferred Shares will be duly and validly reserved for
issuance and, upon issuance in accordance with the terms of the Company’s Amended and Restated Articles of Incorporation, as amended to date (the “Articles”), shall be duly and validly issued, fully paid, non assessable and free of
restrictions on transfer other than restrictions on transfer under this Agreement and applicable state and federal securities laws, and issued in compliance with all applicable securities laws, as presently in effect, of the United States and each
of the states whose securities laws govern the issuance of any of the Series E Preferred Shares or the Converted Shares. The terms of the Series E Preferred Shares and Converted Shares as set forth in the Articles are legally binding obligations of
the Company and are enforceable in accordance with their terms. No documentary stamp tax, or similar tax, is or will be imposed on the Company’s issuance of the securities issued or issuable in connection with this Agreement or the transactions
contemplated hereunder under any state or local government or authority; 
  
 (g) The Company has delivered to Subscriber its unaudited consolidated financial statements for the fiscal years ending September 30, 2003 and September 30, 2004 (collectively, the “Financial Statements”).
The Financial Statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) applied on a consistent basis throughout the periods indicated, except that the Financial Statements may not contain all
footnotes required by GAAP. The Financial Statements fairly present in all material respects the financial condition and operating results of the Company as of the dates, and for the periods, indicated therein, subject to normal year-end audit
adjustments. Except as set forth in the Financial Statements, the Company has no material liabilities or obligations, contingent or otherwise, other than (i) liabilities incurred in the ordinary course of business subsequent to September 30, 2004
and (ii) obligations under contracts and commitments incurred in the ordinary course of business and not required under GAAP to be reflected in the Financial Statements, which, in both cases, individually and in the aggregate would not have a
material adverse effect. The Company maintains and will continue to maintain a standard system of accounting established and administered in accordance with GAAP; 
  
 (h) The Company has made available to Subscriber all the information reasonably available to the Company and
that Subscriber has requested for deciding 

  

 
whether to acquire the Series E Preferred Shares, including the Financial Statements, the Amended and Restated Articles of Incorporation, as amended to date,
the Bylaws as amended to date, a summary capitalization chart dated November 15, 2004 and a business plan dated November 29, 2004 (the “Business Plan”). The Business Plan was prepared in good faith; however, the Company does not warrant
that it will achieve any results projected in the Business Plan; and 
  
 (f) The Company did not use, and is not obligated to pay any commission or other fee to, any finder or broker in connection with this transaction; 
  
 3. IPO. While the Company anticipates that it may in the future conduct an initial public offering
(“IPO”) of its shares of common stock, except as otherwise provided in the Investors’ Rights Agreement, dated December 23, 2004 by and among MAYO and the Company (the “Investors’ Rights Agreement”), no promise,
representation or warranty has been made or given to Subscriber with regard thereto including, but not limited to, the timing, terms, ultimate completion or success of any such future IPO. Except as otherwise provided in the Investors’ Rights
Agreement, Subscriber acknowledges that in connection with any future IPO by the Company, Subscriber will be required to enter into certain undertakings and/or agreements as required by the Company or its underwriter(s). In connection with any such
future IPO and upon request of the Company or the underwriters managing any underwritten offering of the Company’s securities, Subscriber agrees not to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise
dispose of any Series E Preferred Shares or Converted Shares (other than those included in the registration) without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not to exceed one
hundred eighty (180) days) from the effective date of such registration as may be requested by the Company or such managing underwriters, to execute a lock-up agreement in substantially the same form as the lock-up agreements executed by the other
holders of the Company’s Convertible Preferred Stock and to execute a waiver in substantially the same form (excluding those provisions which are not applicable to MAYO) as the other holders of the Company’s Convertible Preferred Stock.

  
 4. INVESTIGATION. Subscriber has relied upon its
own independent investigation in connection with this subscription. Subscriber has had access to all the following information: 
  
 (a) All books and financial records of the Company and its subsidiaries; 
  
 (b) All material contracts and documents relating to the Company and its subsidiaries; 
  
 (c) All financial statements of the Company and its
subsidiaries; 
  
 (d) An opportunity to question
each of the officers, directors, consultants and others affiliated with the Company and its subsidiaries; and. 
  
 Subscriber does not require a prospectus or full disclosure offering or private placement memorandum concerning the Company or its
subsidiaries. Subscriber is relying upon its right of access to information and documents and right to ask 

  

 
questions in connection with the subscription hereunder. The foregoing, however, does not limit or modify the representation and warranties of the Company in
Section 2 of this Agreement or the right of the Subscriber to rely thereon. 
  
 5. DISCLOSURE. Section 517.061(1 1)(a)(5) of the Florida Securities Act provides as follows: 
  
 “When sales are made to five or more persons in this State (i.e. - Florida), any sale in this State (i.e. - Florida) made pursuant to this
subsection is voidable by the purchaser in such sale, either within three (3) days after the first tender of consideration is made by said purchaser to the issuer, an agent of the issuer or an escrow agent, or within three (3) days after the
availability of that privilege as communicated to such purchaser, whichever occurs later.” 
  
 6. CLOSING. This Subscription Agreement shall be closed on or before December    , 2004. At closing the Company
shall deliver to Subscriber a certificate (the “Certificate”) representing the Series E Preferred Shares. 
  
 7. COSTS. Each party shall bear its own costs. 
  
 8. INSTRUCTIONS. Subscriber requests that the Certificate be registered in the name(s) printed below. Delivery will be made to the address
printed below: 
  

					
	 	  	Name:	 	 Mayo Foundation for Medical Education and Research

			
	 	  	Address:	 	 ___________________________________

			
	 	  	 	 	 ___________________________________

  

 IN WITNESSETH WHEREOF, the parties for good and valuable consideration in hand received set their
hand and seal as of this      day of December 2004. 
  

			
	 Acceptance of Subscription
	 	 
		
	 Accentia Biopharmaceuticals, Inc.
	 	 Mayo Foundation for Medical Education and Research

		
	 By: ________________________________
	 	 __________Argent Distribution Agreement

 [*] = CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETS, HAS BEEN OMITTED AND FILED
SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED. 
  
 Exhibit 10.5 
  
 DISTRIBUTION AGREEMENT 
  
 THlS DISTRIBUTION AGREEMENT (“Agreement”) is dated June 15, 2004, by and among Argent Development Group, LLC, a California limited liability company (“Argent”), TEAMM Pharmaceuticals,
Inc., a Florida corporation (“TEAMM”), and Accentia, Inc., a Florida corporation (“Accentia”). TEAMM is a wholly-owned subsidiary of Accentia. 
  
 WITNESSETH 
  
 WHEREAS, Argent, among other things, is engaged in the research and development of various pharmaceutical products comprised primarily of the
following: [*] (the “[*] Product”);
[*] (the “[*] Product”); [*] (the “[*] Product”); [*] (the “[*] Product”); [*] (“the “[*] Product”); [*] (the “[*] Product”); and [*] (the “[*]
Product”). 
  
 WHEREAS, Argent and
Accentia have entered into a “TEAMM Proposal” dated March 16,2004, whereby the commercial terms for this Agreement were outlined; and 
  
 WHEREAS, Argent and Mikart, Inc., a contract manufacturer and developer of pharmaceutical products, with corporate offices at 1750 Chattahoochee
Ave., Atlanta, GA 30318 (“Mikart”), have entered into a development project to formulate, develop, obtain regulatory approval, and commercialize the Products; and 
  
 WHEREAS, TEAMM has experience and capability in the marketing and distribution of such products and desires to
distribute such products. 
  
 NOW, THEREFORE, for good and
valuable consideration, and the covenants, conditions, and undertakings hereinafter set forth, the receipt, adequacy and sufficiency of which are hereby acknowledged, it is agreed by and among the parties as follows: 
  

	1.	 	Definitions. In addition to various terms defined throughout the Agreement, the following capitalized terms shall have the meanings set forth below: 

 

	 	1.1	 	“Act” means the Food, Drug and Cosmetic Act (21 U.S.C. §§ 301 et seq.), as amended, and the regulations promulgated thereunder. 

 

	 	1.2	 	“Approval” means FDA (as defined below) approval of the Product by the FDA for use as a pharmaceutical product for the treatment of pain pursuant to the FDA’s
abbreviated new drug application (“ANDA”) process to be filed by Mikart for the Product. 

  

	 	1.3	 	“Approval Date” means, with respect to each of the Products, the date which the FDA permits the initial sale of such Product for use as a pharmaceutical product for
the treatment of pain pursuant to the Approval of the ANDA to be filed by Mikart for such Product. 

  

	 	1.4	 	“Contract Manufacturer” means Mikart or any other third party that may be engaged by Argent or TEAMM to produce the Products, as provided for in Section 4 of this
Agreement. 

  

	 	1.5	 	“FDA” means the United States Food and Drug Administration or any successor agency. 

  

	 	1.6	 	“Launch” means the first date that TEAMM sales representatives begin delivering personal sales presentations to target physicians in the Territory for a Product.

  

	 	1.7	 	“Net Sales Price” means, for Product sold hereunder by TEAMM to unrelated third parties (individually, a “Customer” and collectively, the
“Customers”), the invoiced sales price. 

  

	 	1.8	 	“Net Sales” means the total Net Sales Price of Product sold hereunder by TEAMM to Customers, after deduction of the following items: 

  

	 	(a)	 	packing, transportation and insurance charges; 

  

	 	(b)	 	discounts or rebates actually allowed and taken to the extent customary in the trade; 

  

	 	(c)	 	credits or allowances given or made for rejection or return; 

  

	 	(d)	 	any tax or other governmental charge levied directly on the sale, transportation or delivery of Products and borne by the seller; and 

  

	 	(e)	 	chargebacks and rebates granted to managed care health organizations, federal and state government agencies, and/or other purchasers and/or reimbursers, including, for example,
group purchasing organization administration fees. 

  
 A Product will be considered sold when the shipment is received by a Customer. The distribution of reasonable quantities of free promotional samples of the Products shall not be considered a sale of a Product for royalty purposes.

  

	 	1.9	 	 “Product” means individually any of the, and “Products” mean collectively all of the, [*] Product, the [*] Product, the [*]

  

 2 

	 	 
Product, the [*] Product, the [*] Product, the [*] Product and/or the [*] Product. 

  

	 	1.10	 	“Proprietary Information” means all financial information, marketing information, sales information, customer information, raw materials, know-how, drawings,
compositions, manufacturing and other specifications, analytical procedures, flow sheets, reports, market studies, preclinical and clinical test results, FDA and other regulatory submissions, software and other medical, research, technical, and
marketing information disclosed, directly or indirectly, by either party to the other party designated “Confidential,” “Proprietary” or the like, or which by its nature is information normally intended to be held in confidence,
unless the receiving party demonstrates that such information: (a) is or becomes public knowledge through no fault of the receiving party; (b) is legally in the possession of the receiving party prior to receipt from the disclosing party, as shown
by receiving party’s written records; or (c) is subsequently and lawfully received without obligation of confidentiality from a third party under no nondisclosure obligation with respect to such information. 

  

	 	1.11	 	“Territory” means the United States of America and all its territories. 

  

	2.	 	Development and Approval. 

  

	 	2.1	 	Development. Argent shall be responsible, at its sole cost and expense, for all drug development for the Products. Argent shall use commercially reasonable efforts to develop
the final form of the Products. All drug development required hereunder shall be performed by Argent in accordance with all applicable laws, rules, and regulations. 

  

	 	2.2	 	Development Reporting. Argent shall provide TEAMM with monthly status reports prior to the submission of the ANDAs for the Products, and quarterly status reports following
the submission of the ANDAs for the Products and prior to the Approval, via teleconference with TEAMM regarding Argent’s progress with respect to the drug development required hereunder. Such status reports shall include “Gant Charts”
to TEAMM regarding Argent’s progress and timelines with respect to the drug development required hereunder. 

  

 3 

	 	2.3	 	Regulatory Approval. Argent and TEAMM acknowledge and agree that: (a) Mikart will be the ANDA holder for the Products; (b) Mikart shall file the ANDAs for the Product with
the FDA; and (c) Mikart and Argent are responsible for the Approval of the Products. 

  

	3.	 	Distribution of Product. 

  

	 	3.1	 	Grant. Subject to the limitations contained in this Agreement, Argent hereby grants to TEAMM an exclusive and perpetual license, to offer for sale, sell, market, promote,
distribute, and otherwise transfer, dispose, provide, and place (“sell”) the Products in the Territory. TEAMM shall have the right, in its sole discretion, to distribute the Products directly or through one or more subdistributors.

  

	 	3.2	 	Performance Criteria. After the Approval Date of each Product, TEAMM shall be responsible, at its sole cost and expense, for all manufacturing of such Product, pursuant to
the provisions of Section 4 hereof, regulatory matters related to such Product, and all promotion and distribution related to the commercialization of such Product in the Territory. Commencing upon execution of this Agreement, TEAMM shall have a
minimum of Eighty (80) sales representatives assigned to detail products similar to the Products to high-prescribing target physicians in the Territory. Commencing upon the initial promotional launch of the first of the Products by TEAMM
(“Launch”) and continuing for a period of no less than twenty-four (24) months from the Launch of the last of the Products, TEAMM shall have a minimum of One Hundred Twenty-Five (125) sales representatives assigned to detail the
Products to high-prescribing target physicians in the Territory. TEAMM’s Launch of the Products shall comprise efforts no less rigorous than those efforts that TEAMM customarily expends to commercialize its other similar products. TEAMM shall
Launch each of the Products within ninety (90) days of the Approval Date of each such Product, subject to its ability to obtain sufficient quantities of such Product from Mikart to allow a Launch subject to the terms of this Section 3.2.

  

	4.	 	Product Manufacturing. Argent hereby acknowledges and agrees that TEAMM’s duties and obligations hereunder are dependent upon TEAMM’s ability to obtain and maintain
an adequate supply of the Products from Mikart. Accordingly, Argent shall cooperate with TEAMM to ensure that a long-term supply agreement is executed between TEAMM and Mikart with respect to the Products (“Mikart Supply
Agreement”). 

  

 4 

	5.	 	Marketing and Support Activities. 

  

	 	5.1	 	Marketing Meetings: Reports. Following the Launch of each of the Products by TEAMM, representatives of Argent and TEAMM shall meet at least quarterly to discuss TEAMM’s
marketing plans, product improvement suggestions, and other information concerning the ongoing commercialization of such Product. TEAMM shall provide information available to it about the Products and its ability to compete with other products for
related uses and to meet customer needs. TEAMM shall provide Argent information regarding sales of the Product such as pricing trends by geographic region as well as sales information indicating sales by geographic region. 

 

	 	5.2	 	Marketing Assistance/Training. To the extent feasible, Argent shall provide technical training and technical assistance to representatives of TEAMM at periodic intervals,
with the frequency and content to be determined by mutual agreement. In consideration of the foregoing services, TEAMM agrees to pay to Argent a fee of One Hundred Twenty-five Thousand Dollars ($125,000.00) per year for the first two years of the
term of this Agreement, such payments to commence on the first day of the month following the execution of the Agreement and such payments to be made in equal monthly installments payable on the first day of each month. 

  

	 	5.3	 	Packaging, Labeling, and Trademarks. TEAMM, in conjunction with Mikart, shall develop all packaging, labeling, package inserts, and trademarks for the Products. All such
packaging, labeling, and package inserts shall comply with applicable FDA requirements. TEAMM agrees to conceive and obtain the necessary clearance to use the name for each of the Products no later than thirty (30) days prior to the date on which
the ANDA for such Product is submitted to the FDA. TEAMM also agrees to file an application to register such names for Trademark protection with the United States Patent and Trademark Office. TEAMM shall be the sole owner of all right, title and
interest in and to such trademarks for the Products. 

  

	 	5.4	 	Co-Marketing Rights. Argent shall have the right of first refusal to employ its own sales representatives to co-market and sell the Products in those areas of the Territories
in which TEAMM does not have a sales representative. A separate agreement will be developed at such time as TEAMM and Argent should choose to explore this option. 

  

	6.	 	Compliance. TEAMM shall maintain, or cause to be maintained, all complaint files and other records required to be maintained by the FDA and other regulatory agencies with
respect to the Products purchased by TEAMM from Mikart. TEAMM and Mikart shall be responsible for compliance with all necessary regulatory reporting requirements for the Products. Specific reporting obligations of TEAMM and Mikart shall be more
fully delineated in the Mikart Supply Agreement. 

  

 5 

	7.	 	Product Warranty and Limitation of Liability. 

  

	 	7.1	 	No Warranty. ARGENT GRANTS NO WARRANTIES FOR THE PRODUCTS, EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUTE OR OTHERWISE, AND ARGENT SPECIFICALLY
DISCLAIMS ANY IMPLIED WARRANTY OF QUALITY, WARRANTY OF MERCHANTABILITY, WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE OR WARRANTY OF NON-INFRINGEMENT. 

  

	 	7.2	 	Limitation of Liability. IN NO EVENT SHALL ARGENT BE LIABLE TO TEAMM FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES (INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS) ARISING
OUT OF ANY PERFORMANCE OF THIS AGREEMENT OR IN FURTHERANCE OF THE PROVISIONS OR OBJECTIVES OF THIS AGREEMENT, REGARDLESS OF WHETHER SUCH DAMAGES ARE BASED ON TORT, WARRANTY, CONTRACT OR ANY OTHER LEGAL THEORY, EVEN IF ADVISED OF THE POSSIBILITY OF
SUCH DAMAGES. THE AGGREGATE LIABILITY OF ARGENT FOR DAMAGES UNDER THIS AGREEMENT, REGARDLESS OF THE FORM OF THE ACTION AND/OR THE LEGAL THEORY ALLEGED, SHALL BE LIMITED TO THE TOTAL AMOUNT ACTUALLY PAID BY TEAMM TO ARGENT HEREUNDER.

  

	8.	 	Consideration for License. 

  

	 	8.1	 	Fixed Payments. As consideration for the license rights hereunder, TEAMM shall pay to Argent certain fixed payments pursuant to the schedule set forth on the attached
Exhibit 1 and made part hereof. 

  
 8.1.1 In the event that the suitability petition for any Product covered under this Agreement is denied by the FDA, Argent agrees to credit TEAMM the difference between the actual fixed payments previously paid by TEAMM to Argent for said
Product, pursuant to the schedule of payments set forth in Exhibit 1 of this Agreement, and the actual development costs incurred by Argent for said Product. Any such creditable amounts will be deducted from any future royalty payments due Argent by
TEAMM for any of the Products covered under this Agreement. 
  

	 	8.2	 	 Royalties. As additional consideration for the license rights hereunder, TEAMM shall pay to Argent a perpetual royalty payment of TEAMM’s 

  

 6 

	 	 
Net Sales of the Products as set forth on the attached Exhibit 1, subject to minimum annual royalty payments for the Products as set forth on the
attached Exhibit 1 and further described in Section 8.5 of this Agreement. For purposes of clarity, the [*] Product and the [*] Product are not subject to the minimum royalty payments described in this Section 8.2, further described in
Section 8.5, and specified in Exhibit 1 of this Agreement. Further, should any Product not achieve a First To Market status prior to its approval by the FDA, TEAMM shall have no obligation to pay the annual minimum royalty for that Product,
provided for in Exhibit 1 of this Agreement. 

  

	 	8.3	 	Option to Convert Running Royalty to Lump Sum Payment. Argent hereby grants TEAMM an option to fulfill its future royalty obligations under Section 8.2 with respect to each
of the Products, beginning with the third year following the Launch of each such Product (the “Option”) whereby TEAMM shall pay to Argent a one-time lump sum (the “Final Royalty Payment”) with respect to such
Product in lieu of continuing royalty payments hereunder. TEAMM shall give Argent ten (10) days written notice of its intent to exercise the Option, and shall pay Argent such Final Royalty Payment no later than forty-five (45) days following the
date of such notice. The amount of each such Final Royalty Payment shall be three and one-half (3.5) times the royalty amounts due Argent under Section 8.2 with respect to such Product for the twelve (12) months preceding the date of said notice.
Argent acknowledges and agrees that the payment of the Final Royalty Payment shall satisfy TEAMM’s obligation under Section 8.2 in perpetuity. TEAMM may exercise the Option with respect to any of the Products or all of the Products. In no event
will the Option, with respect to any Product under this Section 8.3, be executable before the commencement of the third royalty year. 

  

	 	8.4	 	Stock Warrants. As additional consideration for the license rights hereunder, Accentia shall issue to Argent, or to such principals of Argent as requested, stock warrants to
purchase an aggregate of Two Hundred Forty-Five Thousand (245,000) shares of the Common Stock of Accentia, allocated as Thirty-Five Thousand (35,000) shares/product, such warrants to be exercisable, in whole or in part at any point following the
issuance of said warrants, at an exercise price of Three Dollars and Sixty-Two Cents ($3.62) per warrant. Argent shall notify TEAMM of the allocation of any such warrants between the principals of Argent. Argent and Accentia expect to complete
separate warrant agreements as soon as practicable, but in no event later than 60 days, following the execution of this Agreement. 

  

	 	8.5	 	 Royalty Payments Due. All royalties due Argent hereunder shall be paid quarterly, and shall be due no later than forty-five (45) days following the close of
each such quarter. Any payment not received on the date due shall accrue interest at a rate of one and one-half percent (1.5%) per month, or the 

  

 7 

	 	 
maximum rate allowed by law, whichever is less. In the event that the actual royalty payments made by TEAMM are less than the minimum royalty due for any
Product in any given twelve-month period for which such minimum payment is due, TEAMM shall pay the difference between the minimum royalty payment and actual royalty payment made no later than forty-five (45) days following the close of the last
quarter of the twelve-month period for which such minimum payment was due. 

  

	 	8.6	 	Sales Reporting and Payment Dates. After the first sale of a Product by TEAMM, TEAMM shall make quarterly written reports to Argent within thirty (30) days after the first
day of each January, April, July, and October during the term of this Agreement and as of such dates, stating in each such report the number, description, and aggregate sales of Product sold during the preceding three calendar months and upon which
amounts are payable as provided in Section 8.2 hereof. The first such report shall include all such Product so sold prior to the date of such report. Concurrently with the making of each such report, TEAMM shall pay Argent at the rate specified in
Section 8.2 of this Agreement on the Product included therein. 

  

	 	8.7	 	Accounting and Records. TEAMM shall keep complete, true and accurate books of account and records for the purpose of showing the derivation of all amounts payable to Argent
under this Agreement. Such books and records shall be kept at TEAMM’s principal place of business for at least three (3) years following the end of the calendar quarter to which they pertain, and shall be available for inspection by a
representative of Argent, no more than once per calendar year during the term of this Agreement and during normal business hours of TEAMM, for the sole purpose of verifying TEAMM’s royalty statements. The representatives of Argent shall be
obliged to treat as confidential all relevant matters except information relating to the accuracy of such reports and payments or except as required by law. Any such inspections shall be at the sole expense of Argent, unless a variation or error in
excess of Ten Percent (10%) is discovered in the course of any such inspection, whereupon all costs relating thereto shall be paid by TEAMM. TEAMM shall pay to Argent within thirty (30) days of receiving notice from Argent the full amount of any
underpayment, together with interest thereon at the lower of the rate of One and One-Half Percent (1.5%) per month or the maximum rate permitted under applicable law. 

  

	9.	 	Confidentiality. 

  

	 	9.1	 	 Non-Disclosure. During the term of this Agreement and thereafter, no party shall disclose to third parties, or use for its benefit, in whole or in part, any
Proprietary Information received from any other party, except to the extent required to perform its obligations under this Agreement or comply with the 

  

 8 

	 	 
Act or other laws. Each party shall take all reasonable steps to minimize the risk of disclosure of Proprietary Information, including, without limitation:

  

	 	(a)	 	ensuring that only its employees whose duties require them to possess such information have access thereto; 

  

	 	(b)	 	ensuring that such employees are contractually bound to maintain the confidentiality of such information on terms substantially similar to those of this Agreement; and

  

	 	(c)	 	exercising at least the same degree of care that it uses for its own Proprietary Information, which degree of care shall be no less than reasonable. 

  

	 	9.2	 	Duties Upon Termination. Except as otherwise permitted under this Agreement, upon request by the disclosing party after expiration or termination of this Agreement, the other
parties shall either return all of such disclosing party’s Proprietary Information (including data, memoranda, drawings and other writings and tapes and all copies thereof) received or prepared by it or destroy the same, and, in any event,
shall make no further use of such Proprietary Information provided, however, that counsel for the receiving party may keep one copy of the Proprietary Information for purposes of ascertaining the receiving party’s obligations pursuant to this
Section 9. 

  

	 	9.3	 	Use of Proprietary Information. During the term of this Agreement and thereafter, neither party shall use the other party’s Proprietary Information for any purposes,
except to perform its obligations hereunder. 

  

	 	9.4	 	Injunctive Relief. Each party acknowledges that the other parties would not have an adequate remedy at law for breach of any of the covenants contained in this Section 9 and
hereby consents to the enforcement of same by the other parties by means of temporary or permanent injunction issued by any court having jurisdiction thereof and further agrees that the other parties shall be entitled to assert any claim it may have
for damages resulting from the breach of such covenants in addition to seeking injunctive or other relief. 

  

	10.	 	Indemnification. 

  

	 	10.1	 	No Indemnification by Argent. Argent specifically provides no indemnification of any kind, for any reason, whatsoever to TEAMM, Accentia, their respective shareholders,
directors, officers, employees and agents. 

  

 9 

	 	10.2	 	Indemnification by TEAMM. Subject to Argent’s compliance with its obligations set forth in Section 10.3 below, TEAMM shall indemnify, defend and hold Argent and their
respective shareholders, directors, officers, employees and agents harmless from and against any and all losses, damages, liabilities, claims, demands, judgments, settlements, costs and expenses (including, without limitation, reasonable
attorneys’ fees and other costs of defense) attributable to, or arising out of a breach by TEAMM of any of TEAMM’s warranties, representations, covenants or obligations hereunder or any claim, lawsuit or other action by a third party for
breach of contract, personal injury or property damage to the extent caused by a breach by TEAMM of this Agreement, or out of or connected with the use or sale of the Product to the extent directly caused by TEAMM’s fault, negligence or breach
of any of its obligations hereunder concerning the use or sale of the Products. 

  

	 	10.3	 	Notice and Assistance. If Argent intends to claim indemnification under this Section 10.2, Argent shall promptly notify TEAMM in writing of any action, claim or other matter
in respect of which Argent or any of its employees or agents intend to claim such indemnification. Argent shall permit, and shall cause its employees and agents to permit, TEAMM, at its discretion, to settle any such action, claim or other matter
and agrees to the complete control of such defense or settlement by TEAMM; provided, however, that such settlement does not adversely affect Argent’s rights hereunder or impose any obligations on Argent in addition to those set forth
herein in order for it to exercise such rights. No such action, claim or other matter shall be settled without the prior written consent of TEAMM and TEAMM shall not be responsible for any legal fees or other costs incurred other than as provided
herein. At the expense of the TEAMM, Argent shall render TEAMM all assistance reasonably necessary in defending against such claim, suit, or action. Argent shall have the right, at its expense, to retain separate counsel to act in an advisory
capacity in connection with any matter involving a claim for indemnity and TEAMM will cooperate with such counsel. 

  

	11.	 	Term; Termination. 

  

	 	11.1	 	Term. The term of this Agreement shall be perpetual. 

  

	 	11.2	 	Termination for Cause - Either Party. Without prejudice to any other rights it may have hereunder or at law or in equity, either party may terminate this Agreement
immediately by written notice to the other party upon the occurrence of any of the following: 

  

	 	(a)	 	the other party becomes insolvent, an order for relief is entered against the other party under any bankruptcy or insolvency laws or laws of similar import;

  

 10 

	 	(b)	 	the other party makes an assignment for the benefit of its creditors or a receiver or custodian is appointed for it or its business is placed under attachment, garnishment or other
process involving a significant portion of its business; or 

  

	 	(c)	 	after thirty (30) days’ written notice from the terminating party without cure by the breaching party of any material breach of this Agreement. 

  

	 	11.3	 	Rights and Duties Upon Termination. Upon the termination of this Agreement, all rights granted by Argent to TEAMM pursuant to Section 3.1 shall revert to Argent. In addition,
upon termination, TEAMM shall be deemed to have granted to Argent a perpetual, royalty-free license to use the trade names for the Products. Should Argent elect to continue distribution of any of the Products utilizing the trademark(s) and/or
tradename(s) for any of the Products, Argent shall pay TEAMM perpetual royalties equal to two percent (8%) of Net Sales received by Argent for such Products. In no event shall a termination of this Agreement be deemed a waiver of Argent’s right
to receive any payment due to Argent pursuant to Section 8.1 or 8.2 as of the date of termination. Sections of this Agreement shall survive any termination of this Agreement which relate to confidentiality and indemnification, or otherwise which by
their nature cannot be accomplished or fulfilled prior to termination or which relate to obligations of the parties accrued prior to termination. 

  

	12.	 	Miscellaneous. 

  

	 	12.1	 	Choice of Law; Jurisdiction. This Agreement shall be governed and interpreted, and all rights and obligations of the parties shall be determined, in accordance with the laws
of the State of North Carolina, without regard to its conflict of laws rules. All disputes with respect to this Agreement shall be brought and heard either in the North Carolina state courts or the United States’ federal district court for the
Eastern District of North Carolina located in Raleigh, North Carolina. The parties to this Agreement each consent to the in personam jurisdiction and venue of such courts. The parties agree that service of process upon them in any such action may be
made if delivered in person, by courier service, by telegram, by facsimile or by first class mail, and shall be deemed effectively given upon receipt. 

  

	 	12.2	 	Notices. All notices, approvals or other communications required hereunder shall be in writing and shall be deemed to have been duly given if delivered personally to such
party or sent to such party by facsimile transmission (confirmed in writing by other permitted means), air courier or by certified mail, postage prepaid, to the following addresses: 

  

 11 

					
	 To TEAMM or Accentia:
	 	TEAMM Pharmaceuticals, Inc.
	 	 	3000 Aerial Center Parkway, Suite 110
	 	 	Morrisville, North Carolina 27560
	 	 	Attn: President
	 	 	Fax: (919) 481-9300
			
	 with a copy to:
	 	 	  	Hutchison & Mason PLLC
	 	 	 	  	3110 Edwards Mill Road, Suite 100
	 	 	 	  	Raleigh, North Carolina 27612
	 	 	 	  	Attn: J. Robert Tyler, III
	 	 	 	  	Fax (919) 829-9696
		
	To Argent:	 	Argent Development Group, LLC
	 	 	P.O. Box 4531
	 	 	Mountain View, CA 94040
	 	 	Attn: President
	 	 	Fax: (650) 965-3835
			
	 with a copy to:
	 	 	  	Josel Law, P.C.
	 	 	 	  	211 Mamaroneck Avenue
	 	 	 	  	Mamaroneck, NY 10543
	 	 	 	  	Attn: Wayne M. Josel
	 	 	 	  	Fax: (914) 698.2400

  

	 	  	 	or to such other address as the addressee may have specified in notice duly given to the sender as provided herein. Such notice, request, demand, waiver, consent, approval or other
communications will be deemed to have been given as of the date so delivered or transmitted by facsimile, or five (5) days after so mailed. 

  

	 	12.3	 	Severability. If any provision of this Agreement shall be found in any jurisdiction to be in violation of public policy or illegal or unenforceable in law or equity, such
finding shall in no event invalidate any other provision of this Agreement in that jurisdiction, and this Agreement shall be deemed amended to the minimum extent required to comply with the law of such jurisdiction. 

  

	 	12.4	 	Entire Agreement. This Agreement states the entire agreement between the parties hereto about the transactions contemplated hereby and may not be amended or modified except
by written instrument duly executed by the parties hereto. 

  

	 	12.5	 	No Waiver. The failure of any party hereto to enforce at any time, or for any period of time, any provision of this Agreement shall not be construed as a waiver of such
provision or of the right of such party thereafter to enforce each and every provision. 

  

 12 

	 	12.6	 	Assignment, Binding Effect. Either party to this Agreement, upon written approval of the other party, such written approval not to be unreasonably withheld, may assign its
rights in and to this Agreement to any third party at any time, subject to providing thirty (30) days’ prior written notice to every other party herein. Any assignee or transferee of this Agreement and/or the rights or obligations hereunder
shall expressly assume in writing all obligations of the assignor/transferor pursuant to this Agreement. 

  

	 	12.7	 	Independent Contractor. Each party shall act as the independent contractor of the other parties. No party shall be the legal agent of any other party for any purpose
whatsoever and therefore has no right or authority to make or underwrite any promise, warranty or representation, to execute any contract or otherwise to assume any obligation or responsibility in the name of or in behalf of any other party, except
to the extent specifically authorized in writing by such other party. None of the parties hereto shall be bound by or liable to any third persons for any act or for any obligation or debt incurred by the other toward such third party, except to the
extent specifically agreed to in writing by the party so to be bound. 

  

	 	12.8	 	Headings. All section headings contained in this Agreement are for convenience of reference only, do not form a part of this Agreement and shall not affect in any way the
meaning or interpretation of this Agreement. 

  

	 	12.9	 	Counterparts. This Agreement may be executed in any number of counterparts and any party hereto may execute any such counterpart, each of which when executed and delivered
shall be deemed to be an original and all of which counterparts taken together shall constitute but one and the same instrument. It shall not be necessary in making proof of this Agreement or any counterpart hereof to account for any of the other
counterpart. 

  
 12.10 Force
Majeure. No party shall be deemed to be in default for failure or delay in performance to the extent such causes for default were reasonably unforeseeable or, if foreseeable, reasonably irremediable in spite of diligent efforts to effect a
reasonable remedy, and which are caused by act or omission of any governmental authority or of the other party, compliance with new governmental regulations, insurrection, riot, embargo, delays or shortages in transportation or inability to obtain
necessary materials, and Acts of God or Nature. 
  

	 	12.11	 	Insurance. Each of the parties hereto shall at all times maintain insurance, including but not limited to product liability insurance, in commercially reasonable amounts for
their respective obligations and potential liabilities hereunder. Each party shall, at the request of the other party, provide such evidence of such insurance as requested, including a certificate of insurance. 

  

 13 

  
 [THE REMAINDER OF THIS PAGE
IS INTENTIONALLY LEFT BLANK.] 
  

 14 

 IN WITNESS WHEREOF, this Agreement has been duly executed and delivered as of the day and year first
above written. 
  

			
	ARGENT DEVELOPMENT GROUP, LLC
		
	By:	 	 /s/ Illegible

	 Its:
	 	 Illegible

	
	TEAMM PHARMACEUTICALS, INC.
		
	By:	 	 /s/ Martin G. Baum

	 	 	 Martin G. Baum

	 	 	 President and Chief Executive Officer

	
	ACCENTIA, INC.
		
	By:	 	 /s/ Illegible

	 Its:
	 	 Chairman

  

 15 

  
 EXHIBIT 1 
  

															
	Product

	  	Payment
Due Upon
Execution

	 	 Payment Due
 90-days After
 Execution

	 	 Payment Due
 120-days After
 Execution

	 	Payment Due
180 Days
After
Execution

	 	Payment
Due Upon
ANDA
Submission

	 	Payment
Due 90
Days
After
FDA
Approval

	 	 Minimum Annual Royalty Payments

	[*]	  	[*]	 	[*]	 	 	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	  	[*]	 	[*]	 	 	 	[*]	 	[*]	 	[*]	 	[*]
	[*]	  	[*]	 	[*]	 	 	 	[*]	 	[*]	 	[*]	 	 First three 12-month periods - [*] 
 Fourth 12-month
period - [*] 

	[*]	  	[*]	 	[*]	 	 	 	[*]	 	[*]	 	[*]	 	 First three 12-month periods - [*] 
 Fourth 12-month
period - [*] 

	[*]	  	[*]	 	 	 	[*]	 	[*]	 	[*]	 	[*]	 	 First three 12-month periods - [*] 
 Fourth and fifth
l2-month periods - [*] 

	[*]	  	[*]	 	 	 	[*]	 	[*]	 	[*]	 	[*]	 	 First three 12-month periods - [*] 
 Fourth and fifth
12-month periods - [*] 

	[*]	  	[*]	 	 	 	[*]	 	[*]	 	[*]	 	[*]	 	 First three 12-month periods - [*] 
 Fourth and fifth
12-month periods - [*] 

  

  
 FIRST AMENDMENT TO

 DISTRIBUTION AGREEMENT 
  
 This First Amendment to Distribution Agreement is effective October 8, 2004 (the “First Amendment”) and is entered into between Argent
Development Group, LLC, a California limited liability company (“Argent”), TEAMM Pharmaceuticals, Inc., a Delaware corporation (“TEAMM”), and Accentia, Inc., a Florida corporation (“Accentia”).

  
 WHEREAS, Argent, TEAMM, and Accentia are parties to a
Distribution Agreement, dated May 12, 2004 (the “Agreement”); and 
  
 WHEREAS, pursuant to the terms of the Agreement, as of the date hereof, TEAMM owes certain payments to Argent totaling [*] Dollars and [*] Cents [*] , which is comprised of certain fixed payments as follows:

  
 (a) [*] Dollars [*] due on May 12, 2004 (the
“May 12 Balance”); 
  
 (b) [*] Dollars
[*] due on August 12, 2004 (the “August 12 Balance”); 
  
 (c) [*] Dollars [*] due on September 12, 2004 (the “September 12 Balance”); and 
  
 (d) [*] Dollars and [*] Cents [*] representing payment for consulting fees pursuant to Section 5.2 of the Agreement for the months of
August, September and October 2004 (the “Consulting Fee Balance”); and 
  
 WHEREAS, Argent, TEAMM, and Accentia desire to amend the Agreement in the manner and to the extent set forth herein to modify the consideration to be paid to Argent pursuant to the Agreement. 
  
 NOW, THEREFORE, pursuant to Section 12.4 of the Agreement, Argent, TEAMM, and
Accentia hereby agree as follows: 
  
 1. Defined Terms.
Capitalized terms used herein that are not otherwise defined shall have the meaning given to them in the Agreement. 
  
 2. Payment. In consideration of the provisions of this First Amendment, upon execution hereof, TEAMM shall pay to Argent [*] and [*] Cents $[*].
The parties acknowledge that this sum represents the August 12 Balance and the Consulting Fee Balance. 
  

 3. Amendment to Section 8.1. Exhibit 1 to the Agreement is hereby deleted in its entirety
and replaced with the Exhibit 1 attached hereto. Any payment set forth on Exhibit 1 that is not received on the date due shall accrue interest at a rate of one and one-half percent (1.5%) per month, or the maximum rate allowed by law,
whichever is less. Notwithstanding the foregoing, the parties further agree and acknowledge that failure to make any payment on the date due, as set forth in Exhibit 1, shall be deemed a material breach of the Agreement. 
  
 4. Amendment to Section 8.4. In consideration of Argent’s
agreement to forego the May 12 Balance, as well as Argent’s agreement to forego timely payment of the August 12 Balance, TEAMM and Accentia hereby agree to issue to Argent, or its designees, warrants to purchase an additional One Hundred and
Twenty-Five Thousand (125,000) shares of the Common Stock of Accentia and to re-price such warrants (the “Additional Warrant Grant”). Accordingly, the first sentence of Section 8.4 is hereby deleted in its entirety and replaced with the
following: 
  
 “As additional consideration for the license
rights hereunder, Accentia shall issue to Argent, or to such principals of Argent as requested, stock warrants to purchase an aggregate of Three Hundred Seventy Thousand (370,000) shares of the Common Stock of Accentia, such warrants to be
exercisable, in whole or in part at any point following the issuance of said warrants, at an exercise price of Two Dollars Fifty-Three Cents ($2.53) per share. The respective rights and obligations of the parties with respect to the foregoing shall
be set forth in a separate agreement or agreements (the “Warrant Agreement”) to be executed by the parties, substantially in the form annexed hereto as Exhibit 2.” 
  
 4.1 In the event that Accentia does not make a public offering of its Common Stock by April 1, 2005, Argent
shall have the right to recapture the May 12 Balance pursuant to the terms of the Warrant Agreement. 
  
 5. Amendment to Section 11.3. The fourth sentence of Section 11.3 is hereby deleted in its entirety and replaced with the following: 
  
 “In no event shall a termination of this Agreement be deemed a waiver
of Argent’s right to receive any payment due to Argent pursuant to Section 5.2, 8.1 or 8.2 as of the date of termination, or of the right of Argent, or such principals of Argent, under the Warrant Agreement to be executed pursuant to the
provisions of Section 8.4”. 
  
 6. Effect of First
Amendment. The provisions of the Agreement are amended and modified by the provisions of this First Amendment. If any provisions of the Agreement are different from or inconsistent with any of the provisions of this First Amendment, the
provisions of this First Amendment shall control, and the provisions of the Agreement shall, to the extent of such difference or inconsistency, be amended and modified. 
  

 7. Single Agreement. This First Amendment and the Agreement, as amended and modified by this First
Amendment, shall constitute and be construed as a single agreement. 
  
 IN WITNESS WHEREOF, Argent, TEAMM, and Accentia execute and deliver this First Amendment effective October 8, 2004. 
  

			
	ARGENT DEVELOPMENT GROUP, LLC
		
	By	 	/s/    Ken Greathouse
	 	 	 Ken Greathouse

	 	 	 President

	
	 TEAMM PHARMACEUTICALS, INC.

		
	By	 	/s/    Martin G. Baum
	 	 	 Martin G. Baum

	 	 	 President & Chief Executive Officer

	
	 ACCENTIA, INC.

		
	By	 	/s/    Frank E. O’Donnell Jr.
	 	 	 Frank E. O’Donnell, Jr., M.D.

	 	 	 Chairman

  

  
 EXHIBIT 1 

 

																		
	 Product

	  	Payment Due
November 1,
2004

	 	 	Payment Due
November
12, 2004

	 	 	Payment
Due Upon
ANDA
Submission

	 	 	Payment
Due 90
Days
After
FDA
Approval

	 	 	 Minimum Annual Royalty Payments

	  	Royalty
Rate

	 
	 [*]
	  	 	 	 	[	*]	 	[	*]	 	[	*]	 	[*]	  	[	*]
	 [*]
	  	 	 	 	[	*]	 	[	*]	 	[	*]	 	[*]	  	[	*]
	 [*]
	  	 	 	 	[	*]	 	[	*]	 	[	*]	 	 First three 12-month periods - 
 [*]
 Fourth 12-month period - [*]
	  	[	*]
	 [*]
	  	 	 	 	[	*]	 	[	*]	 	[	*]	 	 First three 12-month periods - [*]
 Fourth 12-month
period - [*]
	  	[	*]
	 [*]
	  	[	*]	 	[	*]	 	[	*]	 	[	*]	 	 First three 12-month periods - [*]
 Fourth and
fifth 12-month periods - [*]
	  	[	*]
	 [*]
	  	[	*]	 	[	*]	 	[	*]	 	[	*]	 	 First three 12-month periods - [*]
 Fourth and
fifth 12-month periods - [*]
	  	[	*]
	 [*]
	  	[	*]	 	[	*]	 	[	*]	 	[	*]	 	 First three 12-month periods - [*] 
 Fourth and
fifth 12-month periods - [*]
	  	[	*]

  

  
 EXHIBIT 2 

 
 THIS WARRANT AND THE SECURITIES ISSUABLE UPON THE EXERCISE HEREOF HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR APPLICABLE STATE SECURITIES LAWS. THIS WARRANT AND SUCH UNDERLYING SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO DISTRIBUTION OR RESALE, AND MAY NOT BE
SOLD, MORTGAGED, PLEDGED, HYPOTHECATED, OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT FOR THIS WARRANT AND SUCH SECURITIES UNDER THE 1933 ACT AND APPLICABLE STATE SECURITIES LAWS, OR THE AVAILABILITY OF AN EXEMPTION FROM THE
REGISTRATION PROVISIONS OF THE 1933 ACT AND APPLICABLE STATE SECURITIES LAWS. 
  
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE, AND THE TRANSFER THEREOF, ARE SUBJECT TO THE PROVISIONS OF THE BYLAWS OF THE CORPORATION, A COPY OF WHICH IS ON FILE IN, AND MAY BE EXAMINED AT, THE PRINCIPAL OFFICE OF THE COMPANY.

  
 ACCENTIA, INC. 
 STOCK PURCHASE WARRANT 
  
 This Warrant is issued as of October 8, 2004, by Accentia, Inc., a Florida corporation (the “Company”), to [Kenneth R. Greathouse/Brian Smith]
or their permitted assigns (the “Holder”). 
  
 1.
Issuance of Warrant; Term. 
  
 1.1
Issuance. Upon exercise pursuant to Section 6 hereof, the Company shall issue to the Holder up to One Hundred Eighty-Five Thousand (185,000) of fully paid and nonassessable shares of the Company’s Common Stock, $0.001 par value per share
(the “Common Stock”). 
  
 1.2
Term. This Warrant shall be exercisable at any time and from time to time from the date hereof until the earliest to occur of the following: (i) October 8, 2014; (ii) the closing of the Company’s sale of all or substantially all of its
assets or the acquisition of the Company by another entity by means of merger or other transaction as a result of which stockholders of the Company immediately prior to such acquisition possess a minority of the voting power of the acquiring entity
immediately following such acquisition (an “Acquisition”); (iii) any liquidation or winding up of the Company (a “Liquidation”); or (iv) the closing of a firm commitment underwritten public offering of the Company’s Common
Stock (a “Public Offering”). The Company shall give notice to the Holder of an Acquisition, Liquidation, or Public Offering at least thirty (30) days prior thereto. 
  

 1.3. Exercise Price. The exercise price (the “Warrant Price”) per share
for which all or any of the shares of Common Stock may be purchased pursuant to the terms of this Warrant shall be $2.53 per share. 
  
 2. Adjustment of Warrant Price, Number and Kind of Shares. The Warrant Price and the number and kind of securities issuable upon the exercise of
this Warrant (the “Warrant Stock”) shall be subject to adjustment from time to time and the Company agrees to provide notice upon the happening of certain events as follows. 
  
 2.1 Dividends in Stock Adjustment. In case at any time or from time to time on or after the date hereof the holders
of the Warrant Stock shall have received, or, on or after the record date fixed for the determination of eligible stockholders, shall have become entitled to receive, without payment therefor, other or additional securities or other property (other
than cash) of the Company by way of dividend or distribution, then and in each case, the holder of this Warrant shall, upon the exercise hereof, be entitled to receive, in addition to the number of shares of Warrant Stock receivable thereupon, and
without payment of any additional consideration therefor, the amount of such other or additional securities or other property (other than cash) of the Company which such holder would hold on the date of such exercise had it been the holder of record
of such shares of Warrant Stock on the date hereof and had thereafter, during the period from the date hereof to and including the date of such exercise, retained such shares and/or all other additional securities or other property receivable by it
as aforesaid during such period, giving effect to all adjustments called for during such period by this subsection 2.1 and subsections 2.2 and 2.3 of this Section 2. 
  
 2.2 Reclassification or Reorganization Adjustment. In case of any reclassification or change of the authorized
securities of the Company or of any reorganization of the Company (or any other corporation the stock or securities of which are at the time receivable upon the exercise of this Warrant) on or after the date hereof, then and in each such case the
Company shall give the holder of this Warrant at least thirty (30) days notice of the proposed effective date of such transaction, and the holder of this Warrant, upon the exercise hereof at any time after the consummation of such reclassification,
change or reorganization, shall be entitled to receive, in lieu of the stock or other securities and property receivable upon the exercise hereof prior to such consummation, the stock or other securities or property to which such holder would have
been entitled upon such consummation if such holder had exercised this Warrant immediately prior thereto, all subject to further adjustment as provided in subsections 2.1 and 2.3 of this Section 2. 
  
 2.3 Stock Splits and Reverse Stock Splits. If at any time on or after
the date hereof the Company shall subdivide its issued and outstanding shares of Warrant Stock into a greater number of shares, the Warrant Price in effect immediately prior to such subdivision shall thereby be proportionately reduced and the number
of shares receivable upon exercise of this Warrant shall thereby be proportionately increased; and, conversely, if at any time on or after the date hereof the outstanding number of shares of Warrant Stock shall be combined into a smaller number of
shares, the Warrant Price in effect immediately 

  

 
prior to such combination shall thereby be proportionately increased and the number of shares receivable upon exercise of this Warrant shall thereby be
proportionately decreased. 
  
 3. No Fractional Shares. No
fractional shares of Warrant Stock shall be issued in connection with any exercise hereof. In lieu of any fractional shares that would otherwise be issuable, the Company, as determined by the Board of Directors within its sole discretion, shall: (a)
pay cash equal to the product of such fraction multiplied by the fair market value of one share of Warrant Stock on the date of exercise, as determined in good faith by the Company’s Board of Directors or (b) round up the number of shares of
Warrant Stock to the next whole share. 
  
 4. No Stockholder
Rights. This Warrant as such shall not entitle its holder to any of the rights of a stockholder of the Company until the holder has exercised this Warrant in accordance with Section 6 hereof. 
  
 5. Reservation of Stock. The Company covenants that during the period
that this Warrant is exercisable, the Company will reserve from its authorized and unissued capital stock a sufficient number of shares of Common Stock to provide for the issuance of the Warrant Stock upon the exercise of this Warrant. The Company
agrees that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Warrant Stock upon the exercise of
this Warrant. 
  
 6. Exercise of Warrant. This Warrant may
be exercised by Holder by the surrender of this Warrant at the principal office of the Company, and except as provided in subsection 6.1, accompanied by payment in full of the Warrant Price of the shares of Warrant Stock purchased thereby (as
described above) and the completed subscription form attached hereto. This Warrant shall be deemed to have been exercised immediately prior to the close of business on the date of its surrender for exercise as provided above, and the person or
entity entitled to receive the shares of Warrant Stock issuable upon such exercise shall be treated for all purposes as the holder of such shares of record as of the close of business on such date. As promptly as practicable, the Company shall issue
and deliver to the person or entity entitled to receive the same a certificate or certificates, without charge for any stamp or similar tax with respect to such issuance, for the number of full shares of Warrant Stock issuable upon such exercise,
together with cash in lieu of any fraction of a share as provided above. The shares of Warrant Stock issuable upon exercise hereof shall, upon their issuance, be fully paid and nonassessable. 
  
 6.1 Partial Exercise. This Warrant may be exercised
during its exercise period by the Holder as to the whole at any time or in part from time to time. If this Warrant is exercised at one time for less than the maximum number of shares of Common Stock purchasable upon the exercise hereof, the Company
shall issue to the Holder of this Warrant a new warrant of like tenor and date representing the number of shares of Common Stock equal to the difference between the number of shares purchasable upon full exercise of this Warrant and the number of
shares that were purchased upon the exercise of this Warrant. 
  

 6.2 Net Issue Election. Upon exercise of this Warrant pursuant to Section 6 and in
lieu of paying in full the Warrant Price of the shares of Warrant Stock purchased thereby, the Holder may elect to receive, without the payment by the Holder of any consideration, shares of Warrant Stock equal to the value of this Warrant or any
portion hereof by the surrender of this Warrant or such portion to the Company, with the net issue election notice attached hereto duly executed, at the office of the Company. Thereupon, the Company shall issue to the Holder such number of fully
paid and nonassessable shares of Warrant Stock as is computed using the following formula: 
  

							
	 X=
	 	 	  	Y (A-B)	  	 
	 	  	A	  	 

  

							
	 where
	  	X	  	=	  	the number of shares of Warrant Stock to be issued to the Holder pursuant to this Section 6.2.
				
	 	  	 Y
	  	=	  	the number of shares of Warrant Stock covered by this Warrant to which the net issue election is made pursuant to this Section 6.2.
				
	 	  	 A
	  	=	  	the fair market value of one share of Warrant Stock, as determined in good faith by the Board of Directors of the Company (the “Board”) as at the time the net issue election is made
pursuant to this Section 6.2.
				
	 	  	 B
	  	=	  	the Warrant Price in effect under this Warrant at the time the net issue election is made pursuant to this Section 6.2.

  
 The Board shall promptly respond in
writing to an inquiry by the Holder as to the fair market value of one share of Warrant Stock. 
  
 7. Limited Put Right. In the event that on April 1, 2005, the Company has not to that date made a Public Offering of its Common Shares, Holder may elect to receive, in consideration of Holder’s agreement
to reduce the number of Warrant Stock by Fifty Thousand, a payment by Company totaling Fifty-Seven Thousand Eight Hundred Seventy-Five Dollars ($57,875). If Holder exercises this limited put right, the Company shall issue to the Holder of this
Warrant a new warrant representing right to purchase One Hundred Thirty-Five Thousand (135,000) shares of Common Stock at $2.53 per share, or such number of shares and exercise price as was determined pursuant to an adjustment made in accordance
with the provisions of Section 2 hereof. 
  
 8. Certificate of
Adjustment. Whenever the Warrant Price or number or type of securities issuable upon exercise of this Warrant is adjusted, as herein provided, the Company shall promptly deliver to the record holder of this Warrant a certificate of an officer of
the Company setting forth the nature of such adjustment and a brief statement of the facts requiring such adjustment. 
  

 9. Notice of Proposed Transfers. Prior to any proposed transfer of this Warrant or the shares of
Warrant Stock received on the exercise of this Warrant (the “Securities”), unless there is in effect a registration statement under the Securities Act of 1933, as amended and applicable state securities laws (collectively, the
“Securities Laws”), covering the proposed transfer, the Holder thereof shall give written notice to the Company of such Holder’s intention to effect such transfer. Each such notice shall describe the manner and circumstances of
the proposed transfer in sufficient detail, and shall, if the Company so reasonably requests, be accompanied (except in transactions in compliance with Rule 144) by a written opinion of legal counsel to the effect that the proposed transfer of the
Securities may be effected without registration under the Securities Laws, whereupon the Holder of the Securities shall be entitled to transfer the Securities in accordance with the terms of the notice delivered by the Holder to the Company;
provided, however, no such registration statement or opinion of counsel shall be necessary for a transfer by a Holder to any affiliate of such Holder, or a transfer by a Holder which is a limited liability company or partnership to a member
or partner of such limited liability company or partnership or a member or retired partner of such limited liability company or partnership who retires after the date hereof, or to the estate of any such retired member or partner or the transfer by
gift, will or intestate succession of any member or partner to his spouse or lineal descendants or ancestors, if the transferee agrees in writing to be subject to the terms hereof to the same extent as if such transferee were the original Holder
hereunder. Each certificate evidencing the Securities transferred as above provided shall bear the appropriate restrictive legend set forth above, except that such certificate shall not bear such restrictive legend if in the opinion of counsel for
the Company such legend is not required in order to establish compliance with any provisions of the Securities Laws. 
  
 10. Replacement of Warrants. Upon the receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of this Warrant, and in the case of any such loss, theft or destruction of the Warrant or upon surrender and cancellation of this Warrant if mutilated, the Company will execute and deliver, in lieu thereof, a new Warrant of like tenor.

  
 11. Miscellaneous. This Warrant shall be enforced,
governed and construed in all respects in accordance with the laws of the State of Florida, without application of the principles of conflicts of laws in a manner that would cause Florida law not to be applied to the substance of any controversy.
The headings in this Warrant are for purposes of convenience of reference only, and shall not be deemed to constitute a part hereof. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability of
any other provisions. All notices and other communications from the Company to the holder of this Warrant shall be delivered personally or mailed by first class mail, postage prepaid, to the address furnished to the Company in writing by the last
holder of this Warrant who shall have furnished an address to the Company in writing, and if mailed shall be deemed given three days after deposit in the U.S. Mail. 
  
 12. Taxes. The Company shall pay all issue taxes and other governmental charges (but not including any income taxes
of a Holder) that may be imposed in respect of the issuance or delivery of the Shares or any portion thereof. 
  

 13. Amendment. Any term of this Warrant may be amended with the written consent of the Company and
the Holder of this Warrant. Any amendment effected in accordance with this Section 12 shall be binding upon the Holder of this Warrant, each future holder of such Warrant, and the Company. 
  
 IN WITNESS WHEREOF, the undersigned officer of the Company has set his hand
as of the date first above written. 
  

			
	ACCENTIA, INC.
		
	By:	 	 
	 	 	 Frank E. O’Donnell, Jr., M.D.

	 	 	 Chairman

  

 Subscription 
  

			
	To:
                                        
                                       
 	  	Date:                         

  
 The undersigned hereby
subscribes for              shares of Warrant Stock covered by this Warrant. The certificate(s) for such shares shall be issued in the name of the undersigned or as otherwise
indicated below: 
  

	
	
	 
	 Signature

	
	 
	 Name for Registration

	
	 
	 Mailing Address

  
 Net Issue
Election Notice 
  

			
	To:
                                        
                                       
 	  	Date:                     

  
 The undersigned hereby
elects under Section 6.2 to surrender the right to purchase shares of Warrant Stock pursuant to this Warrant. The certificate(s) for the shares issuable upon such net issue election shall be issued in the name of the undersigned or as otherwise
indicated below. 
  

	
	
	 
	 Signature

	
	 
	 Name for Registration

	
	 
	 Mailing Address

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00082-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00082-of-00352.parquet"}]]