Document:

Form of Purchase and Sale Agreement

 EXHIBIT 10.215 
 PURCHASE AND SALE AGREEMENT 
 dated as of August 26, 2008 
 between 
 INDEVUS PHARMACEUTICALS,
INC. 
 and 
 LEDGEMONT ROYALTY SUB LLC 

 Table of Contents 
  

					
	 	  	 	  	Page
		  	 ARTICLE I
 DEFINED TERMS AND RULES OF CONSTRUCTION
	  	
			
	 Section 1.1
	  	Defined Terms	  	1
	 Section 1.2
	  	Rules of Construction	  	9
			
		  	ARTICLE II	  	
		  	PURCHASE AND SALE OF THE PURCHASED ASSETS	  	
			
	 Section 2.1
	  	Purchase and Sale	  	10
	 Section 2.2
	  	Entitlement to Payments	  	11
	 Section 2.3
	  	Purchase Price	  	11
	 Section 2.4
	  	No Assumed Obligations	  	11
	 Section 2.5
	  	Excluded Assets	  	12
			
		  	ARTICLE III	  	
		  	REPRESENTATIONS AND WARRANTIES OF SELLER	  	
			
	 Section 3.1
	  	Organization	  	12
	 Section 3.2
	  	Seller Authorization	  	12
	 Section 3.3
	  	Governmental and Third Party Authorizations	  	12
	 Section 3.4
	  	Ownership	  	12
	 Section 3.5
	  	Solvency	  	13
	 Section 3.6
	  	No Litigation	  	13
	 Section 3.7
	  	Compliance with Laws	  	13
	 Section 3.8
	  	No Conflicts	  	14
	 Section 3.9
	  	Broker’s Fees	  	14
	 Section 3.10
	  	Intellectual Property Rights	  	14
	 Section 3.11
	  	Regulatory Approval, Manufacturing and Marketing	  	16
	 Section 3.12
	  	No Subordination	  	16
	 Section 3.13
	  	License Documentation	  	16
	 Section 3.14
	  	Set-off and Other Sources of Royalty Reduction	  	19
	 Section 3.15
	  	UCC Matters	  	19
	 Section 3.16
	  	Tax Matters	  	19
	 Section 3.17
	  	Field of Use	  	19
	 Section 3.18
	  	Disclosure	  	20

  

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		  	ARTICLE IV	  	
		  	INTENTIONALLY OMITTED	  	
			
		  	ARTICLE V	  	
		  	COVENANTS	  	
			
	 Section 5.1
	  	Books and Records; Notices	  	20
	 Section 5.2
	  	Confidentiality; Public Announcement	  	21
	 Section 5.3
	  	Best Efforts; Further Assurances	  	22
	 Section 5.4
	  	Payments	  	22
	 Section 5.5
	  	License Documentation	  	24
	 Section 5.6
	  	Termination of License Agreement	  	26
	 Section 5.7
	  	Audits	  	27
	 Section 5.8
	  	Tax Matters	  	27
	 Section 5.9
	  	Third Party Payments	  	27
	 Section 5.10
	  	Existence	  	28
	 Section 5.11
	  	Other Covenants	  	28
			
		  	ARTICLE VI	  	
		  	THE CLOSING	  	
			
	 Section 6.1
	  	Closing	  	29
	 Section 6.2
	  	Closing Deliverables of Seller	  	29
	 Section 6.3
	  	Closing Deliverables of Purchaser	  	29
			
		  	ARTICLE VII	  	
		  	INDEMNIFICATION	  	
			
	 Section 7.1
	  	Indemnification by Seller	  	30
	 Section 7.2
	  	Indemnification by Purchaser	  	30
	 Section 7.3
	  	Procedures	  	30
	 Section 7.4
	  	Exclusive Remedy	  	31
			
		  	ARTICLE VIII	  	
		  	MISCELLANEOUS	  	
			
	 Section 8.1
	  	Survival	  	32
	 Section 8.2
	  	Specific Performance	  	32
	 Section 8.3
	  	Notices	  	32
	 Section 8.4
	  	Successors and Assigns	  	33
	 Section 8.5
	  	Independent Nature of Relationship	  	33
	 Section 8.6
	  	Entire Agreement	  	33
	 Section 8.7
	  	Governing Law	  	34
	 Section 8.8
	  	Waiver of Jury Trial	  	34

  

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	 Section 8.9
	  	Severability	  	35
	 Section 8.10
	  	Counterparts	  	35
	 Section 8.11
	  	Amendments; No Waivers	  	35
	 Section 8.12
	  	Limited Recourse	  	35
	 Section 8.13
	  	Acknowledgment and Agreement	  	35

  

			
	Exhibit A	  	Form of Bill of Sale
	Exhibit B	  	Form of Counterparty Instruction
	Exhibit C	  	Intellectual Property Matters

  

 iii 

 PURCHASE AND SALE AGREEMENT 
 This PURCHASE AND SALE AGREEMENT (this “Agreement”) dated as of August 26, 2008 is between Indevus Pharmaceuticals, Inc., a
Delaware corporation (“Seller”), and Ledgemont Royalty Sub LLC, a Delaware limited liability company (“Purchaser”). 
 W I T N E S S E T H : 
 WHEREAS,
Seller has the right to receive royalties based on Net Sales of the Products in the Territory under the License Agreement; and 
 WHEREAS,
Seller wishes to sell, assign, convey and transfer to Purchaser, and Purchaser wishes to purchase, acquire and accept from Seller, the Purchased Assets, upon and subject to the terms and conditions hereinafter set forth; 
 NOW, THEREFORE, in consideration of the premises and the mutual agreements, representations and warranties set forth herein and of other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto covenant and agree as follows: 
 ARTICLE I 
 DEFINED TERMS AND RULES OF CONSTRUCTION 
 Section 1.1 Defined Terms. The following terms, as used herein, shall have the following meanings: 
 “Adverse Effect” means an adverse effect, in any respect, on (a) the legality, validity or enforceability of any of the Transaction
Documents, the License Documentation or the back-up security interest granted pursuant to Section 2.1(d), (b) the right or ability of Seller (or any Permitted Assignee) to perform any of its obligations under any of the Transaction
Documents or the License Documentation or to consummate the transactions contemplated hereunder or thereunder, (c) the rights or remedies of Purchaser under any of the Transaction Documents, (d) the timing, amount or duration of the
Royalties, (e) the Purchased Assets or (f) the Indevus Intellectual Property. 
 “Affiliate” means, with respect
to any Person, any other Person that, directly or indirectly, controls, is controlled by or is under common control with such Person or is a director, officer or manager of such Person. For purposes of this definition, “control” of
a Person means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise, and the terms
“controlled” and “controlling” have meanings correlative to the foregoing. For purposes hereof, the term “Affiliate” when used in respect of Seller shall be deemed to exclude Purchaser. 

“Agreement” has the meaning set forth in the preamble. 
  

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 “Allergan Consent” means the Consent and Agreement dated as of July 7, 2008 between
Seller and Counterparty. 
 “Bankruptcy Event” means the occurrence of any of the following: (a) Seller or any of its
Subsidiaries shall commence any case, proceeding or other action (i) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization, relief of debtors or the like, seeking to have
an order for relief entered with respect to it or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts or (ii) seeking appointment of a receiver,
trustee, custodian or other similar official for it or for all or any portion of its assets, or Seller or any of its Subsidiaries shall make a general assignment for the benefit of its creditors; (b) there shall be commenced against Seller or
any of its Subsidiaries any case, proceeding or other action of a nature referred to in clause (a) above that remains undismissed, undischarged or unbonded for a period of 90 calendar days; (c) there shall be commenced against Seller or
any of its Subsidiaries any case, proceeding or other action seeking issuance of a warrant of attachment, execution, distraint or similar process against (i) all or any substantial portion of its assets and/or (ii) the Purchased Assets,
which results in the entry of an order for any such relief that shall not have been vacated, discharged, stayed, satisfied or bonded pending appeal within 45 calendar days from the entry thereof; or (d) Seller or any of its Subsidiaries shall
take any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth in clause (a), (b) or (c) above. 
 “Bill of Sale” means the Bill of Sale pursuant to which Seller shall sell, assign, transfer and convey to Purchaser all of its rights, title and interests in and to the Purchased Assets purchased,
acquired and accepted hereunder, which Bill of Sale shall be substantially in the form of Exhibit A. 
 “Business
Day” means any day other than a Saturday, a Sunday, any day that is a legal holiday under the laws of the Commonwealth of Massachusetts or any day on which banking institutions located in the Commonwealth of Massachusetts are authorized or
required by law or other governmental action to close. 
 “Catalent” has the meaning set forth in Section 1.11 of the
License Agreement. 
 “Catalent Agreements” has the meaning set forth in Section 1.11 of the License Agreement.

 “Closing” has the meaning set forth in Section 6.1. 
 “Closing Date” has the meaning set forth in Section 6.1. 
 “Confidential Information” means, as it relates to Seller and its Affiliates, the Products and the Indevus Intellectual Property, all
information (whether written or oral, or in electronic or other form) furnished after the date of this Agreement involving or relating in any way, directly or indirectly, to the Purchased Assets or the Royalties, including (a) any license,
sublicense, assignment, product development, royalty, sale, supply or other agreements (including the 

  

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License Documentation) involving or relating in any way, directly or indirectly, to the Purchased Assets, the Royalties or the intellectual property,
compounds or products giving rise to the Purchased Assets, and including all terms and conditions thereof and the identities of the parties thereto, (b) any reports, data, materials or other documents of any kind concerning or relating in any
way, directly or indirectly, to Seller, the Purchased Assets, the Royalties or the intellectual property, compounds or products giving rise to the Purchased Assets, and including reports, data, materials or other documents of any kind delivered
pursuant to or under any of the agreements referred to in clause (a) above, and (c) any inventions, devices, improvements, formulations, discoveries, compositions, ingredients, patents, patent applications, know-how, processes, trial
results, research, developments or any other intellectual property, trade secrets or information involving or relating in any way, directly or indirectly, to the Purchased Assets or the compounds or products giving rise to the Purchased Assets.
Notwithstanding the foregoing definition, Confidential Information shall not include information that is (i) already in the public domain at the time the information is disclosed, (ii) lawfully obtainable from other sources,
(iii) required to be disclosed in any document to be filed with any Governmental Authority or (iv) required to be disclosed by court or administrative order or under securities laws, rules and regulations applicable to Seller or Purchaser
or their respective Affiliates, as the case may be, or pursuant to the rules and regulations of any stock exchange or stock market on which securities of Seller or Purchaser or their respective Affiliates may be listed for trading. 
 “Copromotion Period” has the meaning set forth in Section 1.20 of the License Agreement. 
 “Counterparty” means Allergan USA, Inc., a Delaware corporation and successor-in-interest to Esprit Pharma, Inc. 
 “Counterparty Instruction” means the irrevocable direction to Counterparty in the form set forth in Exhibit B. 
 “Defaulting Party” has the meaning set forth in Section 5.5(c). 
 “Discrepancy” has the meaning set forth in Section 2.2(b). 
 “Disputes” has the meaning set forth in Section 3.10(e). 
 “Excluded Liabilities and Obligations” has the meaning set forth in Section 2.4. 
 “FDA” means the United States Food and Drug Administration and any successor agency thereto. 
 “Field” has the meaning set forth in Section 1.33 of the License Agreement. 
 “Finished Product” has the meaning set forth in Section 1.34 of the License Agreement. 
 “GAAP” means generally accepted accounting principles in effect in the United States from time to time. 
  

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 “Governmental Authority” means the government of the United States, any other nation or
any political subdivision thereof, whether state or local, and any agency, authority (including supranational authority), commission, instrumentality, regulatory body, court, central bank or other Person exercising executive, legislative, judicial,
taxing, regulatory or administrative powers or functions of or pertaining to government, including each Patent Office, the FDA and any other government authority in any country. 
 “Helsinn Agreements” has the meaning set forth in Section 1.41 of the License Agreement. 
 “Indenture” means the Indenture dated as of the date hereof by and between Purchaser and U.S. Bank National Association, as initial
trustee for the benefit and security of the noteholders described therein. 
 “Indevus Intellectual Property” has the
meaning set forth in Section 1.44 of the License Agreement. 
 “Indevus Know-How” has the meaning set forth in
Section 1.46 of the License Agreement. 
 “Information Memorandum” means the Confidential Information Memorandum of
Seller dated July 2008, as superseded by the Confidential Information Memorandum of Seller dated August 21, 2008. 
 “License
Agreement” means the Amended and Restated License, Commercialization and Supply Agreement dated as of September 18, 2007 between Seller and Counterparty, as supplemented by that certain letter agreement dated December 12, 2007
executed by Allergan, Inc. and accepted and agreed by Seller and the Allergan Consent, together with any new, substitute or amended agreement relating to the Products, the Indevus Intellectual Property or other intellectual property rights of Seller
relating to the Products. The term “License Agreement” shall include all rights that arise therefrom and relate thereto. 
 “License Documentation” means the License Agreement, the Supernus Agreement and the Madaus Agreements. 
 “Lien” means any security interest, mortgage, pledge, hypothecation, assignment, deposit arrangement, encumbrance, lien (statutory or otherwise), charge against or interest in property or other priority or preferential
arrangement of any kind or nature whatsoever, including any conditional sale, any sale with recourse or any agreement to give any security interest. 
 “Loss” means any loss, Set-off, cost, charge, expense, interest, fee, payment, demand, liability, claim, action, proceeding, penalty, fine, damages, judgment, order or other sanction. 
 “Madaus” has the meaning set forth in Section 1.57 of the License Agreement. 
  

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 “Madaus Agreements” has the meaning set forth in Section 1.58 of the License
Agreement. 
 “Madaus Amendment” has the meaning set forth in Section 1.59 of the License Agreement. 
 “Madaus Compound Supply Agreement” has the meaning set forth in Section 1.60 of the License Agreement. 
 “Madaus License” has the meaning set forth in Section 1.61 of the License Agreement. 
 “Madaus License and Supply Agreement” has the meaning set forth in Section 1.62 of the License Agreement. 
 “Material Adverse Effect” means a material adverse effect, in any respect, on (a) the legality, validity or enforceability of any
of the Transaction Documents, the License Documentation or the back-up security interest granted pursuant to Section 2.1(d), (b) the right or ability of Seller (or any Permitted Assignee) or Purchaser to perform any of its obligations
under any of the Transaction Documents or the License Documentation or to consummate the transactions contemplated hereunder or thereunder, (c) the rights or remedies of Purchaser under any of the Transaction Documents, (d) the timing,
amount or duration of the Royalties, (e) the Purchased Assets or (f) the Indevus Intellectual Property. 
 “Net
Sales” has the meaning set forth in Section 1.71 of the License Agreement. 
 “New Arrangement” has the
meaning set forth in Section 5.6(a). 
 “Note Purchase Agreements” means the Note Purchase Agreements dated the date
hereof with Purchaser and certain other note purchasers named therein. 
 “Patent” means any pending or issued patent or
continuation, continuation in part, division, extension or reissue thereof. 
 “Patent Office” means the applicable patent
office, including the United States Patent and Trademark Office and any comparable foreign patent office, for any Indevus Intellectual Property that are Patents. 
 “Permitted Assignee” means any Person that, at the time of any assignment to it of any of the Purchased Assets, (a) does not sell products that compete with Botox or trospium-based products of
Counterparty or Allergan, Inc. and (b) has not announced that it has any such product under development. 
 “Person”
means any natural person, firm, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization, Governmental Authority or any other legal entity, including public bodies,
whether acting in an individual, fiduciary or other capacity. 
  

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 “Processing Assumption Date” has the meaning set forth in Section 1.81 of the
License Agreement. 
 “Product Procurement Costs” has the meaning set forth in Section 1.87 of the License Agreement.

 “Products” means SANCTURA® and SANCTURA XRTM (and, in each case, the equivalent product irrespective of trade name). 
 “Purchased Assets” means, collectively, (a) Seller’s right, title and interest in, to and under the License Agreement to (i) receive all of the Royalties and (ii) receive the quarterly reports produced
by Counterparty pursuant to the License Agreement in respect of sales of the Products in the Territory, (b) the right to pay directly to Counterparty any amounts due and payable under the License Agreement from Seller to Counterparty and, to
the extent possible, cure any breach of the License Agreement by Seller, (c) the right to (i) pay directly to Supernus (or its wholly-owned subsidiary that owns the rights to receive such payments in accordance with the Consent and
Agreement by and between Supernus and Seller, dated March 7, 2008) any amounts due and payable under the Supernus Agreement from Seller to Supernus, (ii) provide any reports to Supernus (or to its wholly-owned subsidiary that owns the
rights to receive such payments in accordance with the Consent and Agreement by and between Supernus and Seller, dated March 7, 2008) that may be due under the Supernus Agreement from Seller and (iii) to the extent possible, cure any
breach of the Supernus Agreement by Seller, (d) to the extent assignable without the consent of any Person pursuant to the terms of the License Documentation as in effect on the Closing Date, the right to (i) initiate and prosecute legal
actions and proceedings to defend the Indevus Intellectual Property against infringement or interference by any other Person and (ii) defend the Indevus Intellectual Property against any claims or counterclaims of invalidity or
unenforceability, or declaratory judgment actions in respect thereof, subject to, in the case of each of clause (d)(i) and clause (d)(ii), the provisions of the License Documentation and the rights of Counterparty thereunder, (e) the right to
receive any Set-off pursuant to Section 2.2(c) and (f) the right to transfer, assign or pledge the foregoing, in whole or in part, subject to the limitations contained in the Allergan Consent, and the proceeds of and the rights to enforce
each of the foregoing. 
 “Purchase Price” has the meaning set forth in Section 2.3. 
 “Purchaser” has the meaning set forth in the preamble. 
 “Purchaser Account” has the meaning set forth in Section 5.4(b). 
 “Purchaser
Indemnified Party” has the meaning set forth in Section 7.1. 
 “Quarterly Indevus Details” has the meaning
set forth in Section 1.94 of the License Agreement. 
  

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 “Regulatory Agency” means a Governmental Authority with responsibility for the approval
of the marketing and sale of pharmaceuticals or other regulation of pharmaceuticals in any country. 
 “Regulatory
Approvals” means, collectively, all regulatory approvals, registrations, certificates, authorizations, permits and supplements thereto, as well as associated materials (including the product dossier) pursuant to which the Products may be
marketed, sold and distributed in a jurisdiction, issued by the appropriate Regulatory Agency. 
 “Royalties” means:

 (a) all amounts paid, owed, accrued or otherwise required to be paid to Seller or any of its Affiliates as a result of the sale of any and
all Products in the Territory or otherwise pursuant to Section 6.2(b) of the License Agreement, and attributable to the period commencing on the Royalties Commencement Date, including (x) all amounts due or to be paid to Seller or any of
its Affiliates in lieu thereof and (y) all amounts due or to be paid to Seller or any of its Affiliates under Sections 6.1(b), 6.2(a), 6.2(b) (in the case of such Section 6.2(b), whether or not such amounts are a result of the sale of any
Products) and 6.4(d) of the License Agreement, but excluding (i) Third Party Royalties due or to be paid pursuant to Section 6.2(c) of the License Agreement, (ii) Sales Force Reimbursement due or to be paid pursuant to
Section 6.3 of the License Agreement, (iii) amounts due pursuant to Sections 14.8 and 14.13(e) of the License Agreement and (iv) any amounts due or to be paid under the License Agreement in respect of Finished Products that are not
Products; 
 (b) all indemnity payments, recoveries, damages or award or settlement amounts paid to Seller or any of its Affiliates by any
third party and arising out of or relating to the Indevus Intellectual Property in the Field or as a result of a breach by any Person of any of the License Documentation with respect thereto, including pursuant to Section 5.5(c) or
Section 5.5(d); 
 (c) all amounts paid or payable to Seller or any of its Affiliates by one or more third party licensees or
sublicensees under any New Arrangement; 
 (d) all amounts paid or payable to Seller or any of its Affiliates under any agreement entered
into pursuant to the proviso contained in Section 2.4 of the License Agreement; 
 (e) all other amounts paid by Counterparty, any
Sublicensee or any other Person arising out of or related to or resulting from the Indevus Intellectual Property or the License Documentation (except for amounts excluded under clause (a)(i), clause (a)(ii), clause (a)(iii) and clause (a)(iv)
above); 
 (f) all accounts (as defined under the Delaware Uniform Commercial Code) evidencing the rights to the payments and amounts
described herein; and 
 (g) all proceeds (as defined under the Delaware Uniform Commercial Code) of any of the foregoing. 
  

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 “Royalties Commencement Date” means July 1, 2008. 
 “Sales Force Reimbursement” has the meaning set forth in Section 6.3 of the License Agreement. 
 “Samples” has the meaning set forth in Section 1.100 of the License Agreement. 
 “Seller” has the meaning set forth in the preamble. 
 “Seller Account” has the meaning set forth in Section 5.4(d). 
 “Seller
Indemnified Party” has the meaning set forth in Section 7.2. 
 “Set-off” means any set-off, off-set,
rescission, counterclaim, reduction, deduction or defense. 
 “Sublicensee” means any sublicensee of Counterparty under the
License Agreement. 
 “Subsidiary” means, with respect to any Person, any other Person of which more than 50% of the
outstanding voting securities of such other Person (irrespective of whether at the time equity ownership interests of any other class or classes of such other Person shall or might have voting power upon the occurrence of any contingency) is at the
time directly or indirectly owned or controlled by such Person, by such Person and one or more other Subsidiaries of such Person or by one or more other Subsidiaries of such Person. For purposes hereof, the term “Subsidiary” when
used in respect of Seller shall be deemed to exclude Purchaser. 
 “Supernus” has the meaning set forth in
Section 1.104 of the License Agreement. 
 “Supernus Agreement” has the meaning set forth in Section 1.105 of the
License Agreement. For the avoidance of doubt, the “Supernus Agreement” includes the Consent and Agreement dated as of July 8, 2008 between Supernus and Seller. 
 “Territory” has the meaning set forth in Section 1.111 of the License Agreement. 
 “Third Party Royalties” has the meaning set forth in Section 1.114 of the License Agreement. 
 “Transaction Documents” means, collectively, this Agreement, the Bill of Sale, the Counterparty Instruction, the Servicing Agreement
dated as of the date hereof with Purchaser and the Note Purchase Agreements. 
 “Trustee” means U.S. Bank National
Association, as initial trustee of the notes described in the Indenture, or any successor trustee. 
 “UCC” means the
Uniform Commercial Code as in effect from time to time in the State of Delaware; provided, however, that, if, with respect to any financing statement or by reason of any provisions of law, the perfection or the effect of perfection or
non-perfection of the back-up 

  

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security interest granted pursuant to Section 2.1(d) is governed by the Uniform Commercial Code as in effect in a jurisdiction of the United States
other than Delaware, then “UCC” shall mean the Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions of this Agreement and any financing statement relating to such
perfection or effect of perfection or non-perfection. 
 Section 1.2 Rules of Construction. Unless the context otherwise requires, in
this Agreement: 
 (a) A term has the meaning assigned to it and an accounting term not otherwise defined has the meaning
assigned to it in accordance with GAAP. 
 (b) Unless otherwise defined, all terms used herein that are defined in the UCC
shall have the meanings stated in the UCC. 
 (c) Words of the masculine, feminine or neuter gender shall mean and include the
correlative words of other genders, and words in the singular shall include the plural, and vice versa. 
 (d) The terms
“include”, “including” and similar terms shall be construed as if followed by the phrase “without limitation”. 
 (e) References to an agreement or other document include references to such agreement or document as amended, restated, reformed, supplemented or otherwise modified in accordance with the terms thereof and include any
annexes, exhibits and schedules attached thereto, and the provisions thereof apply to successive events and transactions. 
 (f) References to any statute or other legislative provision shall include any statutory or legislative modification or re-enactment thereof, or any substitution therefor. 
 (g) References to any Person shall be construed to include such Person’s successors and permitted assigns. 
 (h) The word “will” shall be construed to have the same meaning and effect as the word “shall”. 
 (i) The words “hereof”, “herein”, “hereunder” and similar terms when used in this Agreement shall refer to
this Agreement as a whole and not to any particular provision hereof, and Article, Section and Exhibit references herein are references to Articles and Sections of, and Exhibits to, this Agreement unless otherwise specified. 
 (j) In the computation of a period of time from a specified date to a later specified date, the word “from” means “from and
including” and each of the words “to” and “until” means “to but excluding”. 
 (k) Where
any payment is to be made, any funds are to be applied or any calculation is to be made under this Agreement on a day that is not a Business Day, unless this Agreement otherwise provides, such payment shall be made, such funds shall be applied and
such calculation shall be made on the next succeeding Business Day, and payments shall be adjusted accordingly. 
  

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 (l) Any reference herein to a term that is defined by reference to its meaning in the
License Agreement shall refer to such term’s meaning in the License Agreement as in existence on the date hereof (and not to any new, substituted or amended version thereof). 
 ARTICLE II 
 PURCHASE AND SALE OF THE PURCHASED ASSETS 
 Section 2.1 Purchase and Sale. 
 (a) Subject to the terms and conditions of this Agreement, on the Closing Date, Seller shall sell, assign, transfer and convey to Purchaser, and Purchaser shall purchase, acquire and accept from Seller, all of
Seller’s right, title and interest in and to the Purchased Assets, free and clear of any and all Liens, other than those Liens created in favor of Purchaser by the Transaction Documents. 
 (b) Seller and Purchaser intend and agree that the sale, assignment, transfer and conveyance of the Purchased Assets under this Agreement
shall be, and is, a true, absolute and irrevocable assignment and sale by Seller to Purchaser of the Purchased Assets and that such assignment and sale shall provide Purchaser with the full benefits of ownership of the Purchased Assets. Neither
Seller nor Purchaser intends the transactions contemplated hereunder to be, or for any purpose characterized as, a loan from Purchaser to Seller. Seller waives any right to contest or otherwise assert that this Agreement is other than a true,
absolute and irrevocable sale and assignment by Seller to Purchaser of the Purchased Assets under applicable law, which waiver shall be enforceable against Seller in any bankruptcy or insolvency proceeding relating to Seller. 
 (c) Seller hereby consents to Purchaser recording and filing, at Purchaser’s sole cost and expense, financing statements in the
appropriate filing offices under the UCC (and continuation statements with respect to such financing statements when applicable) meeting the requirements of applicable law in such manner and in such jurisdictions as are necessary or appropriate to
evidence the purchase, acquisition and acceptance by Purchaser of the Purchased Assets and to perfect the security interest in the Purchased Assets granted by Seller to Purchaser pursuant to Section 2.1(d). 
 (d) Notwithstanding that Seller and Purchaser expressly intend for the sale, transfer, assignment and conveyance of the Purchased Assets
to be a true and absolute sale and assignment, Seller hereby grants, conveys, pledges and assigns to Purchaser, as security for its obligations created hereunder in the event that the transfer contemplated by this Agreement is held not to be a sale,
a first priority security interest in and to all of Seller’s right, title and interest in, to and under the Purchased Assets, and, in such event, this Purchase and Sale Agreement shall constitute a security agreement. 
  

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 Section 2.2 Entitlement to Payments. Purchaser shall be entitled to receive the following
transfers and payments in respect of the Purchased Assets: 
 (a) Seller agrees that Purchaser is entitled to the Purchased
Assets and may enforce such entitlement directly against Counterparty pursuant to the License Agreement and, notwithstanding any claim or Set-off that Seller may have against Purchaser or that Counterparty may have against Seller, Seller agrees and
will use its best efforts to ensure (including taking such actions as Purchaser shall reasonably request) that Counterparty remits all payments that Counterparty is required to pay to Seller under the License Agreement with respect to the Purchased
Assets directly to Purchaser (and/or to a Permitted Assignee of Purchaser), pursuant to the Counterparty Instruction. 
 (b)
For the avoidance of doubt, the parties hereto understand and agree that if Counterparty fails to pay any Royalties when Seller or Purchaser reasonably believes such Royalties are due under the License Agreement, except for any Set-off contemplated
by Section 2.2(c) (each such unpaid amount, a “Discrepancy”), and if such Discrepancy is not the result of a default or breach by Seller under the License Agreement, then Seller shall not be obligated to pay to Purchaser or
otherwise compensate or make Purchaser whole with respect to any such Discrepancy so long as Seller is in compliance with the provisions of this Agreement; provided, however, that nothing in this Section 2.2(b) shall limit or
affect in any respect the rights of any Purchaser Indemnified Party under Article VII. 
 (c) Seller agrees that it will
promptly (and in any event within three Business Days) pay to Purchaser in accordance with Section 5.4 the amount of any Set-off by Counterparty against any Royalties or other Purchased Assets to the extent that such Set-off arises out of or
relates to any period prior to the Royalties Commencement Date or to any events occurring, circumstances existing or actions taken prior to the Royalties Commencement Date. 
 Section 2.3 Purchase Price. In full consideration for the sale, assignment, transfer and conveyance of the Purchased Assets, and subject to the
terms and conditions set forth herein, Purchaser shall pay to Seller, or Seller’s designee, on the Closing Date, the sum of $91,319,781.37, by wire transfer to an account designated in writing by Seller at least two Business Days prior to the
Closing Date (the “Purchase Price”), it being understood that any excess portion of the consideration for the Purchased Assets, where the total consideration for the Purchased Assets is equal to the fair market value of the
Purchased Assets, shall be deemed a capital contribution by Seller to Purchaser in an amount equal to such excess portion. 
 Section 2.4
No Assumed Obligations. Notwithstanding any provision in this Agreement or any other writing to the contrary, Purchaser is purchasing, acquiring and accepting only the Purchased Assets and is not assuming any liability or obligation of Seller
or any of Seller’s Affiliates of whatever nature, whether presently in existence or arising or asserted hereafter, whether under any License Documentation (including any obligation to pay any amounts to, or accept any Set-off by, Counterparty
or any of Counterparty’s Affiliates), any Transaction Document or otherwise. All such liabilities and obligations shall be retained by and remain obligations and liabilities of Seller or Seller’s Affiliates (the “Excluded
Liabilities and Obligations”). 
  

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 Section 2.5 Excluded Assets. Purchaser does not, by purchase, acquisition or acceptance of the
rights granted hereunder or otherwise pursuant to any of the Transaction Documents, purchase, acquire or accept any assets or contract rights of Seller under the License Documentation, other than the Purchased Assets, or any other assets of Seller.

 ARTICLE III 
 REPRESENTATIONS
AND WARRANTIES OF SELLER 
 Seller hereby represents and warrants to Purchaser as of the date hereof as follows: 
 Section 3.1 Organization. Seller is a corporation duly organized, validly existing and in good standing under the laws of Delaware and has all
powers and all licenses, authorizations, consents and approvals of all Governmental Authorities required to carry on its business as now conducted, to execute and deliver, and perform its obligations under, the Transaction Documents and to exercise
its rights and to perform its obligations under the License Agreement. Seller is duly qualified to do business as a foreign entity and is in good standing in every jurisdiction in which the failure to do so could reasonably be expected to result,
individually or in the aggregate, in a Material Adverse Effect. 
 Section 3.2 Seller Authorization. Seller has all necessary power
and authority to enter into, execute and deliver the Transaction Documents and to perform all of the obligations to be performed by it hereunder and thereunder and to consummate the transactions contemplated hereunder and thereunder. The Transaction
Documents have been, or when executed will be, duly authorized, executed and delivered by Seller, and each Transaction Document constitutes, or when executed will constitute, the legal, valid and binding obligation of Seller, enforceable against
Seller in accordance with its respective terms, subject, as to enforcement of remedies, to bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally or general equitable principles. The
transactions contemplated by the Transaction Documents have been duly authorized by Seller. 
 Section 3.3 Governmental and Third Party
Authorizations. The execution and delivery by Seller of the Transaction Documents, and the performance by Seller of its obligations and the consummation of any of the transactions contemplated hereunder and thereunder, do not require any
consent, approval, license, order, authorization or declaration from, notice to, action or registration by or filing with any Governmental Authority or any other Person, except for the filing of the UCC financing statements referred to in
Section 2.1, filings with the U.S. Securities and Exchange Commission and the notice to the Counterparty contained in the Counterparty Instruction. 
 Section 3.4 Ownership. Seller is the exclusive owner of the entire right, title (legal and equitable) and interest in and to the Purchased Assets, free and clear of all Liens. Upon the sale, assignment,
transfer and conveyance by Seller of the Purchased Assets to Purchaser, Purchaser will acquire good and marketable title to the Purchased Assets free and clear of all Liens, other than Liens in favor of Purchaser. 
  

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 Section 3.5 Solvency. Upon consummation of the transactions contemplated by the Transaction
Documents, (a) the fair saleable value of Seller’s assets will be greater than the sum of its debts and other obligations, including contingent liabilities, (b) the present fair saleable value of Seller’s assets will be greater
than the amount that would be required to pay its probable liabilities on its existing debts and other obligations, including contingent liabilities, as they become absolute and matured, (c) Seller will be able to realize upon its assets and
pay its debts and other obligations, including contingent obligations, as they mature, (d) Seller will not have unreasonably small capital with which to engage in its business, (e) Seller will not incur, nor does it have present plans or
intentions to incur, debts or other obligations or liabilities beyond its ability to pay such debts or other obligations or liabilities as they become absolute and matured, (f) Seller will not have become subject to any Bankruptcy Event and
(g) Seller will not have been rendered insolvent within the meaning of Section 101(32) of the United States Bankruptcy Code. 
 Section 3.6 No Litigation. There is no (a) action, suit, arbitration proceeding, claim, investigation or other proceeding (whether civil, criminal, administrative, investigative or informal) pending or, to the knowledge of
Seller, threatened by or against Seller or any of its Subsidiaries or, to the knowledge of Seller, pending or threatened by or against Counterparty, Madaus, Supernus or any of Counterparty’s Sublicensees, at law or in equity, or
(b) inquiry or investigation (whether civil, criminal, administrative, investigative or informal) by or before a Governmental Authority pending or, to the knowledge of Seller, threatened against Seller or any of its Subsidiaries or, to the
knowledge of Seller, pending or threatened against Counterparty, Madaus, Supernus or any of Counterparty’s Sublicensees, that, in each case, (i) if adversely determined, could reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect, or (ii) challenges, or may have the effect of preventing, delaying, making illegal, or otherwise interfering with, any of the transactions contemplated by any of the Transaction Documents. To the knowledge
of Seller, no event has occurred or circumstance exists that may give rise to or serve as a basis for the commencement of any such action, suit, arbitration, claim, investigation, proceeding or inquiry. 
 Section 3.7 Compliance with Laws. None of Seller or any of its Subsidiaries is (a) in violation of or has violated, or, to the knowledge of
Seller, is under investigation with respect to, or has been threatened to be charged with or been given notice of any violation of, any law, rule, ordinance or regulation of, or any judgment, order, writ, decree, permit or license granted, issued or
entered by, any Governmental Authority or (b) subject to any judgment, order, writ, decree, permit or license granted, issued or entered by any Governmental Authority, in each case, that could reasonably be expected to, individually or in the
aggregate, have an Adverse Effect. To the knowledge of Seller, no event has occurred or circumstance exists that (with or without notice or lapse of time, or both) may constitute or result in a violation by Seller or any of its Subsidiaries of, or a
failure on the part of Seller or any of its Subsidiaries to comply with, any such law, rule, ordinance or regulation of, or any judgment, order, writ, decree, permit or license granted, issued or entered by, any Governmental Authority, in each case,
that could reasonably be expected to result, individually or in the aggregate, in an Adverse Effect. 
  

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 Section 3.8 No Conflicts. 
 (a) Neither the execution and delivery of any of the Transaction Documents nor the performance or consummation of the transactions
contemplated hereby and thereby will: (i) contravene, conflict with, result in a breach or violation of, constitute a default (with or without notice or lapse of time, or both) under, or accelerate the performance provided by, in any respect,
(A) any statute, law, rule, ordinance or regulation of any Governmental Authority, or any judgment, order, writ, decree, permit or license of any Governmental Authority, to which Seller or any of its Subsidiaries or any of their respective
assets or properties may be subject or bound, (B) any contract, agreement, commitment or instrument to which Seller or any of its Subsidiaries is a party or by which Seller or any of its Subsidiaries or any of their respective assets or
properties is bound or committed, other than the License Documentation, or (C) any provisions of the organizational documents of Seller or any of its Subsidiaries; (ii) give rise to any additional right of termination, cancellation or
acceleration of any right or obligation of Seller or any of its Subsidiaries or any other Person; (iii) except as provided in the Transaction Documents, result in the creation or imposition of any Lien on the Indevus Intellectual Property, the
Products, the License Documentation or the Purchased Assets; or (iv) contravene, conflict with, result in a breach or violation of, constitute a default (with or without notice or lapse of time, or both) under, give to any other Person the
right to terminate, or accelerate the performance provided by, in any respect, any provision of the License Documentation. 
 (b) Seller has not granted, nor does there exist, any Lien on the License Documentation, the Indevus Intellectual Property or the Purchased Assets. Except for the license granted by Seller to Counterparty under the License Agreement, there
are no licenses, sublicenses, or other rights under the Indevus Intellectual Property in the Territory that have been granted to any other Person. 
 Section 3.9 Broker’s Fees. Seller has not taken any action that would entitle any Person other than Morgan Stanley & Co. Incorporated (whose fees shall be paid by Seller) to any commission or broker’s fee in
connection with the transactions contemplated by the Transaction Documents. 
 Section 3.10 Intellectual Property Rights. 

(a) Exhibit C sets forth an accurate and complete list of all Indevus Intellectual Property that are Patents. For each of such
Indevus Intellectual Property listed on Exhibit C, Seller has indicated (i) the countries in which such Patents are pending, allowed, granted or issued, (ii) the patent or patent serial number, (iii) the scheduled expiration
date of the issued patents, (iv) the scheduled expiration date of the pending patent applications once issued, and (v) the owner of such Patents. 
 (b) To the knowledge of Seller, each claim that has been issued or granted by the appropriate Patent Office, included in the relevant Indevus Intellectual Property that are patents that covers a Product and generates
the Royalties, is valid and enforceable. 
  

 14 

 (c) There are no unpaid maintenance or renewal fees payable by Seller to any third party
that currently are overdue for any of the Indevus Intellectual Property that are Patents. No Indevus Intellectual Property that are Patents has lapsed or been abandoned, cancelled or expired. To the knowledge of Seller, each individual associated
with the filing and prosecution of the Indevus Intellectual Property that are Patents, including the named inventors of the Indevus Intellectual Property that are Patents, has complied in all material respects with all applicable duties of candor
and good faith in dealing with any Patent Office, including any duty to disclose to any Patent Office all information known to be material to the patentability of each of the Indevus Intellectual Property that are Patents (including any relevant
prior art), in those jurisdictions where such duties exist. 
 (d) Subsequent to the issuance of the Indevus Intellectual
Property that are Patents, neither Seller nor, to the knowledge of Seller, Counterparty, Madaus or Supernus has filed any disclaimer or made or permitted any other voluntary reduction in the scope of the Indevus Intellectual Property that are
Patents. No allowable or allowed subject matter of the Indevus Intellectual Property that are Patents is subject to any competing conception claims of allowable or allowed subject matter of any Patents of any third party and have not been the
subject of any interference, re-examination or opposition proceedings. 
 (e) There is no pending or, to the knowledge of
Seller, threatened opposition, interference, reexamination, injunction, claim, lawsuit, proceeding, hearing, investigation (by the International Trade Commission or otherwise), complaint, arbitration, mediation, demand, decree or other dispute,
disagreement or claim (collectively, “Disputes”) challenging the legality, validity, enforceability or ownership of any of the Indevus Intellectual Property or that could give rise to a credit against the payments due to Seller
under the License Agreement for the use of the related Indevus Intellectual Property. There are no Disputes by any third party against Seller involving any Product. The Indevus Intellectual Property are not subject to any outstanding injunction,
judgment, order, decree, ruling, change, settlement or other disposition of a Dispute. 
 (f) To the knowledge of Seller,
there is no pending or threatened, and no event has occurred or circumstance exists that (with or without notice or lapse of time, or both) could reasonably be expected to give rise to or serve as a basis for any, action, suit or proceeding, or any
investigation or claim by any Person to which Seller or, to the knowledge of Seller, to which Counterparty, Madaus, Supernus or any of their respective Affiliates or Counterparty’s Sublicensees is or could be a party, that claims that the
manufacture, use, marketing, sale or distribution of any Product by Counterparty or any of its Affiliates or Sublicensees pursuant to the License Agreement does or could infringe on any patent or other intellectual property rights of any other
Person. To the knowledge of Seller, there are no pending United States, international or foreign patent applications owned by any third party that, if issued, would limit or prohibit, in any material respect, the manufacture, use or sale of any
Product by Seller, Counterparty or any of their respective sublicensees. 
 (g) Each of the Products is a Finished Product.

  

 15 

 (h) To the knowledge of Seller, there is no third party infringing any Indevus
Intellectual Property, nor has Seller received any notice under the License Agreement of infringement of any of the Indevus Intellectual Property. 
 (i) Except for the patentability opinion dated July 9, 2008 of Pillsbury Winthrop Shaw Pittman LLP, the product clearance opinion dated July 9, 2008 of Pillsbury Winthrop Shaw Pittman LLP and the validity
opinion dated August 18, 2008 of Pillsbury Winthrop Shaw Pittman LLP, Seller has not received and is not otherwise in possession of any written legal opinion concerning or with respect to any third party intellectual property rights relating to
the Products, including any freedom-to-operate, product clearance, patentability or right-to-use opinion. 
 (j) Each of
Indevus and, to the knowledge of Indevus, Counterparty has taken all reasonable precautions to protect the secrecy, confidentiality and/or value of the Indevus Know-How. 
 Section 3.11 Regulatory Approval, Manufacturing and Marketing. 
 (a) To the knowledge
of Seller, Counterparty has complied with its obligations to develop the Products and seek and obtain Regulatory Approval for the Products pursuant to the License Agreement. 
 (b) To the knowledge of Seller, each of the Products has received Regulatory Approval for marketing and distribution in the United States.

 Section 3.12 No Subordination. The claims and rights of Purchaser created by any Transaction Document in and to the Purchased
Assets are not and shall not, at any time, be subordinated to any creditor of Seller. 
 Section 3.13 License Documentation.

 (a) Other than the License Documentation and the Transaction Documents, there is no contract, agreement or other
arrangement (whether written or oral) to which Seller or any of its Subsidiaries is a party or by which any of their respective assets or properties is bound or committed (i) that creates a Lien on, affects or otherwise relates to the Purchased
Assets, the License Documentation or the Indevus Intellectual Property, or (ii) for which breach, nonperformance, cancellation or failure to renew could reasonably be expected to result, individually or in the aggregate, in a Material Adverse
Effect. 
 (b) Seller has provided to Purchaser an accurate and complete copy of the License Documentation and each
confidentiality agreement relating to any of the foregoing; provided, that the Madaus Agreements have been provided only to the extent that they have been filed with the U.S. Securities and Exchange Commission. 
 (c) Each document included within the definition of “License Documentation” is the legal, valid and binding obligation of Seller
and, to the knowledge of Seller, of Counterparty, 

  

 16 

 
Madaus and Supernus (to the extent party thereto) enforceable against Seller and, to the knowledge of Seller, Counterparty, Madaus and Supernus (to the
extent party thereto) in accordance with its respective terms, subject, as to enforcement of remedies, to bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’ rights generally and general equitable principles.
The execution, delivery and performance of each of the License Documentation was and is within the powers of Seller and, to the knowledge of Seller, Counterparty, Madaus and Supernus (to the extent party thereto). Each of the License Documentation
was duly authorized by all necessary action on the part of, and validly executed and delivered by, Seller and, to the knowledge of Seller, Counterparty, Madaus and Supernus (to the extent party thereto). There is no breach or default, or event or
circumstance that upon notice or the passage of time, or both, could (i) constitute or give rise to any breach or default in the performance of any of the License Documentation by Seller or, to the knowledge of Seller, Counterparty, Madaus or
Supernus or (ii) give to Counterparty, Madaus or Supernus the right to terminate any of the License Documentation. 
 (d)
Seller has not waived any rights or defaults under the License Documentation that adversely affects Purchaser’s rights and obligations under any of the Transaction Documents. 
 (e) Seller has not received any notice of an intention by Counterparty, Madaus, Supernus or any other Person to terminate any of the
License Documentation, in whole or in part, or challenging the validity or enforceability of any of the License Documentation or the obligation to pay the Royalties under the License Agreement, or that Seller, Counterparty, Madaus or Supernus is in
default of its obligations under any of the License Documentation. Seller has no intention of terminating any of the License Documentation and has not given Counterparty, Madaus or Supernus any notice of termination of any of the License
Documentation, in whole or in part. 
 (f) Except as provided in the License Documentation, Seller is not a party to any
agreement providing for or permitting a sharing of, or Set-off against, the Royalties payable under the License Agreement to Seller. 
 (g) The sale by Seller of the Purchased Assets to Purchaser will not require the approval, consent, ratification, waiver or other authorization of Counterparty, Madaus, Supernus or any other Person under any of the License Documentation or
otherwise and will not constitute a breach of or default or event of default under any of the License Documentation or any other agreement or law applicable thereto. 
 (h) Except as provided in the Supernus Agreement, Seller has not consented to an assignment by Counterparty, Madaus or Supernus of any of
their respective rights or obligations under any of the License Documentation and Seller does not have knowledge of any such assignment by Counterparty, Madaus or Supernus. 
 (i) None of Seller, Counterparty, Madaus or Supernus has made any claim of indemnification under any of the License Documentation.

  

 17 

 (j) Seller has not exercised its rights to conduct an audit under Section 6.5 of the
License Agreement. 
 (k) To the knowledge of Seller, Seller has received all amounts owed to it under the License
Documentation. 
 (l) Seller has extended the Copromotion Period until December 31, 2008 and intends to further extend
the Copromotion Period until March 31, 2009. 
 (m) Seller has not delivered less than 100% of the Quarterly Indevus
Details in any calendar quarter ended on or prior to June 30, 2008 during the Copromotion Period. 
 (n) Seller has
obtained the right for Counterparty to make the payments to Supernus as described in the third sentence of Section 2.2(b) of the License Agreement. 
 (o) Seller has obtained the agreement of Supernus to grant, in the event that the Supernus Agreement is terminated for any reason and Counterparty is in compliance with its obligations to pay the applicable Third
Party Royalties in accordance with the License Agreement, the payments required by Section 14.13(e)(iv) of the License Agreement and the portion of Product Procurement Costs described in Section 1.87(e) of the License Agreement, and is
otherwise in material compliance with its obligations under the License Agreement, substantially equivalent rights on substantially equivalent terms as those granted to Seller pursuant to the Supernus Agreement as are necessary for Counterparty to
exercise its rights and perform its obligations under the License Agreement. 
 (p) The Processing Assumption Date occurred on
August 13, 2008 and, effective on such date, (i) the Catalent Agreement was amended and restated in part to provide for manufacturing and supply of Product for use in countries outside the United States and Canada, (ii) Catalent
entered into a new manufacturing and supply agreement with Counterparty providing for manufacturing and supply of Product for use in the United States and Canada and (iii) Seller’s rights and obligations under the Helsinn Agreements
relating to the manufacture and supply of the active pharmaceutical ingredient for use in the manufacture of Product for use in the United States and Canada were assigned to and assumed by Counterparty. 
 (q) Seller has not failed to make any of the deliveries contemplated by clause (e) of the definition of “Product Adverse
Event” in Section 1.83 of the License Agreement. 
 (r) The
date of first commercial sale of SANCTURA® was on or about August 23, 2004, and the date of first commercial sale of SANCTURA XRTM was on or about January 7, 2008. 
 (s) Counterparty
has paid Seller the up-front license fee of $25,000,000 contemplated by Section 6.1(a) of the License Agreement. 
 (t)
Seller has duly paid Madaus all milestone payments under Section 5.1 of the Madaus License. 
  

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 (u) The Madaus Compound Supply Agreement has terminated in accordance with its terms.

 (v) Except for the milestone payments contemplated by Sections 5.1.1, 5.1.2, 5.1.3, 5.1.4, 5.1.6 and 5.1.9 of the Supernus
Agreement, each of which has become due and payable and has been duly paid by Seller, no milestone payments under Section 5.1, 5.2 or 5.3 of the Supernus Agreement have become due and payable. 
 (w) Seller has satisfied the requirements of Sections 8.2.1 and 8.2.2 of the Supernus Agreement. 
 (x) The provisions of Amendment No. 1 to the Madaus License dated as of January 19, 2004 between Madaus and Seller have been
superseded in their entirety by provisions in the Madaus Amendment. 
 Section 3.14 Set-off and Other Sources of Royalty Reduction.
Except as provided in the License Documentation, Counterparty has no right of Set-off under any contract or other agreement against the Royalties or any other amounts payable to Seller under the License Agreement. Counterparty has not exercised,
and, to the knowledge of Seller, Counterparty has not had the right to exercise and no event or condition exists that, upon notice or passage of time or both, would reasonably be expected to permit Counterparty to exercise, any Set-off against the
Royalties or any other amounts payable to Seller under the License Agreement. To the knowledge of Seller, there are no third party patents that would provide a basis for a reduction in the royalties due to Seller pursuant to the License Agreement.
There are no compulsory licenses granted or, to the knowledge of Seller, threatened with respect to the Indevus Intellectual Property. 
 Section 3.15 UCC Matters. Seller’s exact legal name is, and since April 2, 2002 has been, “Indevus Pharmaceuticals, Inc.” From January 1, 1998 to April 2, 2002, Seller’s exact legal name was
“Interneuron Pharmaceuticals, Inc.” Seller’s jurisdiction of organization has at all times since January 1, 1998 been Delaware. Seller’s principal place of business is, and since June 2005 has been located at, 33 Hayden
Avenue, Lexington MA 02421-7996, and, from January 1, 1998 to that time, Seller’s principal place of business was located at 99 Hayden Avenue, Lexington MA 02421-7996. 
 Section 3.16 Tax Matters. No deduction or withholding for or on account of any tax has been made, or was required under applicable law to be made,
from any payment to Seller under the License Agreement. Seller has filed (or caused to be filed) all tax returns and reports required by law to have been filed by it and has paid all taxes required to be paid by it, except any such taxes that are
being diligently contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have been set aside on its books, and Seller has never filed any tax return or report under any name other than its exact
legal name. 
 Section 3.17 Field of Use. The Products are the only Finished Products that currently have any established value in the
Field. Other than the Products, no Finished Product is under development in the Field by Seller or any of its Affiliates or, to the knowledge of Seller, Counterparty, Madaus, Supernus or any of their respective Affiliates. 
  

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 Section 3.18 Disclosure. The Information Memorandum (excluding Section 5 (“L.E.K.
Report”) and Section 8 (“Opinions Regarding Product Clearance and Validity”) thereof), taken as a whole, does not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements
therein not misleading in light of the circumstances under which they were made. From the date of the Information Memorandum until the date hereof and except as disclosed therein, there has been no material adverse change or development involving or
anticipated to involve a prospective material adverse change in Seller’s business relating to the Purchased Assets or the License Documentation or its ability to perform its obligations under the Transaction Documents. As of the date hereof,
there is no fact known to Seller that could reasonably be expected to have a material adverse effect on its business relating to the Purchased Assets or the License Documentation or its ability to perform its obligations under the Transaction
Documents that has not been set forth in the Information Memorandum. Seller has no reason to believe that the sales forecast projections of the Products included in the report of L.E.K. Consulting LLC included in the Information Memorandum
(a) are not based upon assumptions (as they are described in such report) that Seller reasonably believes in good faith to be consistent in all material respects with operation of the License Documentation and (b) are not reasonable,
taking into account such assumptions. Seller makes no other representation or warranty, express or implied, with respect to the matters disclosed in Section 5 (“L.E.K. Report”) and Section 8 (“Opinions Regarding Product
Clearance and Validity”) of the Information Memorandum; provided, however, that, notwithstanding the foregoing, any and all information provided or made available by or on behalf of Seller or any of its Affiliates to the third
parties that prepared the aforementioned Sections of the Information Memorandum was, on the date so provided or made available, and is, in each case true and correct in all material respects. 
 ARTICLE IV 
 INTENTIONALLY OMITTED 
 ARTICLE V 
 COVENANTS 
 The parties hereto covenant and agree as follows: 
 Section 5.1 Books and Records; Notices. 
 (a) After receipt by Seller of notice of any action, claim, demand,
dispute, investigation, arbitration or proceeding (commenced or threatened) relating to the transactions contemplated by any Transaction Document, the Purchased Assets or the License Documentation or any default or termination by any Person under
the License Documentation, Seller shall (i) promptly inform Purchaser in writing of the receipt of such notice and the substance thereof and (ii) if such notice is in writing, promptly furnish Purchaser with a copy of such notice and any
related materials with respect thereto. 
  

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 (b) Seller shall keep and maintain, or cause to be kept and maintained, at all times full
and accurate books and records adequate to reflect accurately all financial information it has received from Counterparty with respect to the Royalties. 
 (c) Promptly after receipt by Seller of any written notice, certificate, offer, proposal, correspondence, report or other communication relating to the License Documentation, the Royalties, the Indevus Intellectual
Property, the Purchased Assets or the Products, Seller shall (i) inform Purchaser in writing of such receipt, (ii) provide to Purchaser in writing a reasonably detailed description of the substance thereof and (iii) furnish Purchaser
with a copy of such notice, certificate, offer, proposal, correspondence, report or other communication to the extent permitted by and in accordance with the Allergan Consent. Further, the parties hereto acknowledge and agree that Seller shall
retain the right to receive any such notice, certificate, offer, proposal, correspondence, report or other communication, including without limitation copies of the quarterly reports that constitute a portion of the Purchased Assets. 
 (d) Seller shall provide Purchaser with written notice as promptly as practicable (and in any event within five Business Days) after
becoming aware of any of the following: (i) the occurrence of a Bankruptcy Event; (ii) any material breach or default by Seller of any covenant, agreement or other provision of this Agreement or any other Transaction Document;
(iii) any representation or warranty made by Seller in any of the Transaction Documents or in any certificate delivered to Purchaser pursuant hereto shall prove to be untrue, inaccurate or incomplete in any respect on the date as of which made;
or (iv) any change, effect, event, occurrence, state of facts, development or condition that has had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. 
 (e) Seller shall notify Purchaser in writing not less than 30 days prior to any change in, or amendment or alteration of, Seller’s
(i) legal name, (ii) form or type of organization or corporate structure or (iii) jurisdiction of organization. 
 Section 5.2
Confidentiality; Public Announcement. 
 (a) Except as otherwise required by law, by the rules and regulations of any
securities exchange or trading system or by the FDA or any other Governmental Authority with similar regulatory authority and except as otherwise set forth in this Section 5.2, all Confidential Information furnished by Seller to Purchaser, as
well as the terms, conditions and provisions of this Agreement and any other Transaction Document, shall be kept confidential by Purchaser and shall be used by Purchaser only in connection with this Agreement and any other Transaction Document and
the transactions contemplated hereby and thereby. Notwithstanding the foregoing, Purchaser may disclose such information (to the extent permitted by and in accordance with the Allergan Consent) to its actual and potential partners, directors,
employees, managers, officers, agents, investors (including any holder of debt securities of Purchaser and such holder’s advisors, agents and representatives), co-investors, insurers and insurance brokers, underwriters, financing parties,
equity holders, brokers, advisors, lawyers, bankers, trustees and representatives; provided, that such Persons (i) shall be informed of the confidential nature of such information and shall be obligated to keep such information
confidential pursuant to obligations of confidentiality no less onerous than those set out herein and that satisfy the 

  

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provisions of Section 3 of the Allergan Consent, to the extent such Confidential Information is subject thereto, or (ii) shall have executed and
delivered the Resale Confidentiality Undertaking attached as Exhibit B to the Indenture. 
 (b) Seller and Purchaser
acknowledge that each party hereto may, after execution of this Agreement, make a public announcement of the transactions contemplated by the Transaction Documents. Seller and Purchaser agree that, after the Closing, public announcements may be
issued in the form of one or more press releases, in each case subject to Purchaser or Seller having a reasonable prior opportunity to review such public announcement, and which announcement shall be in a form mutually acceptable to Purchaser and
Seller, and either party hereto may thereafter disclose any information contained in such press release at any time without the consent of the other party hereto. 
 Section 5.3 Best Efforts; Further Assurances. 
 (a) Subject to the terms and
conditions of this Agreement, each party hereto will use its best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary under applicable laws and regulations to consummate the transactions
contemplated by the Transaction Documents. Purchaser and Seller agree to execute and deliver such other documents, certificates, agreements and other writings and to take such other actions as may be necessary or desirable, or reasonably requested
by the other party hereto, in order to consummate or implement expeditiously the transactions contemplated by any Transaction Document and to vest and maintain in Purchaser good, valid and marketable rights and interests in and to the Purchased
Assets free and clear of all Liens, including following the Closing. 
 (b) Seller and Purchaser shall cooperate and provide
assistance as reasonably requested by the other party hereto, at the expense of such other party hereto (except as otherwise provided herein), in connection with any litigation, arbitration or other proceeding (whether threatened, existing,
initiated or contemplated prior to, on or after the date hereof) to which the other party hereto, any of its Affiliates or controlling Persons or any of their respective officers, directors, shareholders, members, controlling Persons, managers,
agents or employees is or may become a party or is or may become otherwise directly or indirectly affected or as to which any such Persons have a direct or indirect interest, in each case relating to any Transaction Document, the Purchased Assets or
the transactions described herein or therein but in all cases excluding any litigation brought by Seller against Purchaser or brought by Purchaser against Seller. 
 Section 5.4 Payments. 
 (a) Notwithstanding the terms of the Counterparty Instruction,
if Counterparty, any Sublicensee or any other Person makes any payment to Seller (or any of its Subsidiaries) on account of the Purchased Assets, then (i) such payment shall be held by Seller (or such Subsidiary) in trust for the benefit of
Purchaser in a segregated account, (ii) Seller (or such Subsidiary) shall have no right, title or interest whatsoever in such payment and shall not create or suffer to exist any Lien thereon and (iii) Seller (or such Subsidiary) promptly,
and in any event no later than three Business Days following the receipt by Seller (or such Subsidiary) of such payment, shall remit such payment to the Purchaser Account pursuant to Section 5.4(b). 
  

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 (b) Seller shall make all payments to be made by Seller pursuant to this Agreement by
wire transfer of immediately available funds, without Set-off, to the following account (or to such other account as Purchaser shall notify Seller in writing from time to time) (the “Purchaser Account”): 
 Bank Name: U.S. Bank 
 ABA Number: 091000022

 Account Number: 173103321092 
 Account Name: Ledgemont Royalty 128354 
 Attention: Josh Tripi 
 (c) If Counterparty, any Sublicensee or any other Person makes any payment to Purchaser of Royalties relating to periods prior to the
Royalties Commencement Date, then (i) such payment shall be held by Purchaser in trust for the benefit of Seller in a segregated account, (ii) Purchaser shall have no right, title or interest whatsoever in such payment and shall not create
or suffer to exist any Lien thereon and (iii) Purchaser promptly, and in any event no later than three Business Days following the receipt by Purchaser of such payment, shall remit such payment to the Seller Account pursuant to
Section 5.4(d). 
 (d) Purchaser shall make all payments of Royalties relating to periods prior to the Royalties
Commencement Date to be made by Purchaser pursuant to this Agreement by wire transfer of immediately available funds, without Set-off, to the following account (or to such other account as Seller shall notify Purchaser in writing from time to time)
(the “Seller Account”): 
 Bank Name: RBS Citizens, NA 
 ABA Number: 011500120 
 Account Number: 15904938 
 Account Name: Trust Institutional Services 
 FFC Account Number: 2011514 
 FFC Account Name: Indevus Pharmaceuticals 
 Attention: Jean A. Parrillo (401) 282-3836

  

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 (e) If Counterparty takes any Set-off in accordance with the terms of the License
Agreement where such Set-off (or any portion thereof) is made in respect of any event occurring, circumstance existing or action taken prior to the Royalties Commencement Date but has the effect of reducing amounts to be paid to Purchaser following
the Closing Date, then Seller shall cause the amount of such Set-off (or portion thereof, as the case may be) to be paid promptly (but in no event later than three Business Days following such Set-off) to the Purchaser Account. 
 Section 5.5 License Documentation. 
 (a) Seller shall fully and timely comply with its obligations under the License Documentation and, without the prior written consent of Purchaser, shall not (i) forgive, release or compromise any amount owed to
or becoming owing to Seller under the License Documentation, (ii) waive, amend, cancel, terminate or fail to exercise any rights constituting or involving the right to receive the Royalties, (iii) create or permit to exist any Lien on the
License Documentation, Purchased Assets or the Indevus Intellectual Property, (iv) grant any license, sublicense or other right under the Indevus Intellectual Property, except for licenses granted by Seller to Counterparty under the License
Agreement as in existence on the Closing Date or in accordance with Section 5.6(a), (v) challenge or assist in a challenge of the legality, validity or enforceability of any of the Indevus Intellectual Property, (vi) amend, modify,
restate, cancel, supplement, terminate or waive any of the License Documentation (including any provision thereof) or grant any consent under or with respect to the License Documentation, (vii) enter into any agreement with Counterparty,
Supernus or Madaus in respect of or relating to the Purchased Assets, except in accordance with Section 5.6(a) or (viii) agree to do any of the foregoing. 
 (b) Promptly after (i) receiving notice from Counterparty, Madaus, Supernus or any other Person (A) terminating any of the
License Documentation (in whole or in part), (B) alleging any breach of or default under any of the License Documentation by Seller or (C) asserting the existence of any facts, circumstances or events that, alone or together with other
facts, circumstances or events, could reasonably be expected (with or without the giving of notice or passage of time, or both) to give rise to a breach of or default under any of the License Documentation or the right to terminate any of the
License Documentation (in whole or in part) by Counterparty, Madaus, Supernus or any other Person or (ii) Seller otherwise has knowledge of any fact, circumstance or event that, alone or together with other facts, circumstances or events, could
reasonably be expected (with or without the giving of notice or passage of time, or both) to give rise to a breach of or default under any of the License Documentation by Seller or give the right to terminate any of the License Documentation (in
whole or in part) by Counterparty, Madaus, Supernus or any other Person, in each case, Seller shall (A) promptly give a written notice to Purchaser describing in reasonable detail the relevant breach, default or termination event, including a
copy of any written notice received from Counterparty, Madaus, Supernus or the other relevant Person, and, in the case of any breach or default or alleged breach or default by Seller, describing in reasonable detail any corrective action Seller
proposes to take, and (B) use its best efforts to promptly cure such breach or default and shall give written notice to Purchaser upon curing such breach or default; provided, however, that, if Seller fails to promptly cure such
breach or default promptly, Purchaser shall be entitled to take any and all actions Purchaser considers reasonably necessary to promptly cure such breach or default, and Seller shall promptly reimburse Purchaser for all costs and expenses incurred
in connection therewith. 
  

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 (c) Promptly after Seller obtains knowledge of a breach or default or alleged breach or
default under any of the License Documentation by Counterparty or any other Person (each, a “Defaulting Party”) or of the existence of any facts, circumstances or events that, alone or together with other facts, circumstances or
events, could reasonably be expected (with or without the giving of notice or passage of time, or both) to give rise to a breach or default under any of the License Documentation by a Defaulting Party or the right to terminate any of the License
Documentation (in whole or in part) by Seller, in each case, Seller shall (i) promptly give a written notice to Purchaser describing in reasonable detail the relevant breach, default or termination event and (ii) as and when requested in
writing by Purchaser, proceed in consultation with Purchaser and take such permissible actions (including commencing legal action against the Defaulting Party) as Purchaser may in writing instruct with respect to such breach, default or termination
event or alleged breach, default or termination event (including the selection of legal counsel reasonably satisfactory to Purchaser) to enforce compliance by the Defaulting Party with the relevant provisions of the License Documentation and to
exercise any or all of Seller’s rights and remedies, whether under the License Documentation or by operation of law, with respect thereto. Purchaser shall have the right, at its sole expense, to participate in and control, with counsel
appointed by it, any meeting, discussion, action, suit or other proceeding relating to any such breach, default or termination event or alleged breach, default or termination event, including any counterclaim, settlement discussions or meetings;
provided, that the fees and expenses of Purchaser’s counsel in connection therewith shall be borne by Seller if such breach, default or termination event or alleged breach, default or termination event results from, or is caused by,
directly or indirectly, a breach or default by Seller. 
 (d) Seller shall (i) subject to the provisions of the License
Documentation and any rights of Counterparty thereunder, take any and all actions, and prepare, execute, deliver and file any and all agreements, documents and instruments, that are reasonably necessary or desirable to diligently maintain the
Indevus Intellectual Property, at the sole expense of Seller (which expenses may be reimbursable to Seller by Counterparty under the License Agreement), and (ii) diligently defend (and enforce) the Indevus Intellectual Property against
infringement or interference by any other Person, and against any claims of invalidity or unenforceability, in any jurisdiction (including by bringing any legal action for infringement or defending any counterclaim of invalidity or action of a third
party for declaratory judgment of non-infringement or non-interference), with counsel reasonably satisfactory to Purchaser and whose reasonable fees and expenses shall be borne by Seller. Seller shall not disclaim or abandon, or fail to take any
action necessary or desirable to prevent the disclaimer or abandonment of, the applicable Indevus Intellectual Property. Purchaser shall have the right, at its sole expense, to participate in and control, with counsel appointed by it, any meeting,
discussion, action, suit or proceeding involving the infringement, legality, validity or enforceability of the Indevus Intellectual Property or the License Agreement to the same extent that Seller has such rights under the License Agreement,
including any counterclaim, settlement discussions or meetings, and Seller shall exercise and enforce such rights on its own behalf (and on behalf of Purchaser) to the fullest extent under the terms of the License Agreement; provided, that
Seller’s exercise and 

  

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enforcement of such rights shall not result in a breach of this Agreement or a Material Adverse Effect; provided, further, that the fees and
expenses of Purchaser’s counsel in connection therewith shall be borne by Seller if such infringement, legality, validity or enforceability results from, or is caused by, directly or indirectly, Seller. 
 (e) Except in connection with an assignment by Seller to any other Person with which Seller may merge or consolidate or to which Seller
may sell all or substantially all of its assets or all of its assets related to the Licensed Products in accordance with the provisions of Section 8.4, Seller shall not dispose of or encumber the Indevus Intellectual Property (in whole or in
part). 
 (f) Seller shall make available its records and personnel to Purchaser in connection with any prosecution of
litigation by Purchaser against any party to any of the License Documentation to enforce any of Purchaser’s rights under any such License Documentation, and provide reasonable assistance and authority to file and bring the litigation,
including, if required to bring the litigation, being joined as a party plaintiff. 
 (g) If Madaus or Supernus becomes
insolvent and seeks to reorganize under Chapter 11 of Title 11 of the United States Code (or equivalent provisions of foreign law), Seller shall elect, as licensee under the Madaus Agreements or the Supernus Agreement, as the case may be, to retain
its rights under such Madaus Agreements or Supernus Agreement, as the case may be, pursuant to Section 365(n) of Title 11 of the United States Code (or any equivalent provisions of foreign law) by written request as soon as practicable
thereafter. 
 Section 5.6 Termination of License Agreement. 
 (a) Without limiting the provisions of Section 5.5, if Counterparty or Seller terminates or provides written notice of termination of
the License Agreement (in whole or in part), or the License Agreement is otherwise terminated (in whole or in part), then Seller shall provide assistance to and cooperate with Purchaser, at Purchaser’s sole discretion, cost and expense
(including Purchaser’s payment of Seller’s reasonable attorneys’ fees in connection therewith, if any), in such efforts as Purchaser shall undertake in connection with the negotiation of a license of the Indevus Intellectual Property,
which shall include terms no less favorable to Seller than those contained in the License Agreement with respect to obligations and costs imposed on Seller, disclaimers of Seller’s liability, intellectual property ownership and control,
commercialization diligence and indemnification of Seller (any such license, a “New Arrangement”). Should Purchaser identify any New Arrangement, Seller agrees to duly execute and deliver such New Arrangement that satisfies the
foregoing requirements promptly upon the written request of Purchaser. In the event Seller enters into a New Arrangement, Seller agrees to comply with the provisions of this Agreement in connection with the New Arrangement and references herein to
the Purchased Assets and the License Agreement shall be deemed to be references to any new purchased asset and any new license agreement constructed under the New Arrangement, and references to Counterparty shall be deemed to be references to the
other party to such new license agreement and that other party’s Affiliates and sublicensees. 
  

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 (b) If there occurs a merger or consolidation of Seller, on the one hand, and
Counterparty or its Affiliates, on the other hand, a sale of all or substantially all of Seller’s assets to Counterparty or a sale or assignment of the License Agreement or the Indevus Intellectual Property by Seller to Counterparty, and in any
such case the License Agreement is terminated in connection therewith, Seller (or its successor) shall pay Purchaser royalties on the Net Sales of Products for the term of the License Agreement on the same basis as if the License Agreement had
continued and Purchaser’s rights with respect to the Purchased Assets and the covenants of Seller under this Agreement shall continue to apply on the same basis as if the License Agreement was in place between Seller and Counterparty.

 Section 5.7 Audits. Seller shall not, without the prior written consent of Purchaser, and Seller shall, upon the written request of
Purchaser, cause an inspection or audit of Counterparty’s books and records to be conducted pursuant to, and in accordance with, Section 6.5 of the License Agreement; provided, however, that Seller shall retain the exclusive
right to inspect and audit Counterparty’s books and records at any time and from time to time at its sole discretion for payments that are paid or payable to Seller pursuant to the License Agreement with respect to Net Sales and Royalties
attributable to the period prior to the Royalties Commencement Date. For the purposes of exercising Purchaser’s rights pursuant to this Section 5.7, Seller shall select such public accounting firm as Purchaser shall recommend for such
purpose. Seller and Purchaser agree that all of the expenses of any inspection or audit carried out for the benefit of Purchaser that would otherwise be borne by Seller pursuant to the License Agreement shall instead be borne by Purchaser, including
such fees and expenses of such public accounting firm as are to be borne by Seller pursuant to Section 6.5 of the License Agreement together with Seller’s reasonable out-of-pocket costs incurred in connection with such examination or
audit. Seller will furnish any inspection or audit report prepared by such public accounting firm to Purchaser, provided, however, that Seller shall not furnish such inspection or audit report prior to such time that Counterparty has
made a filing with the Securities and Exchange Commission including financial statements relating to the full period covered by such inspection or audit report. Purchaser shall have the right to require Seller, in writing, at the sole expense of
Purchaser, to exercise Seller’s rights under the License Agreement to cause Counterparty to cure such discrepancy in accordance with the License Agreement. 
 Section 5.8 Tax Matters. All payments to Purchaser under this Agreement shall be made without any deduction or withholding for or on account of any tax; provided, that, if deduction or withholding of any
tax is required from any such payment under this Agreement or from any payment under the License Agreement by reason of Seller’s being a party to the License Agreement, then the sum payable shall be increased and paid by Seller as necessary so
that, after making all required deductions and withholdings, Purchaser receives an amount equal to the amount that it would have received had no such deductions or withholdings been made. 
 Section 5.9 Third Party Payments. Seller shall cause all amounts received by Seller in respect of clauses (a)(i) through (a)(iv) of the definition
of “Royalties” that relate to amounts payable by Seller to other Persons (including Supernus or Madaus) to be received and held in one or more separate accounts in trust or escrow for such Persons and not commingled with any other funds of
Seller, and Seller shall cause such funds to be paid to such Persons in accordance with Seller’s obligations to such Persons. 
  

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 Section 5.10 Existence. Seller shall (i) preserve and maintain its existence,
(ii) preserve and maintain its rights, franchises and privileges unless failure to do any of the foregoing would not have or would not be reasonably likely to have a Material Adverse Effect and (iii) qualify and remain qualified in good
standing in each jurisdiction where the failure to preserve and maintain such existence, rights, franchises, privileges and qualifications would be reasonably likely to have such a Material Adverse Effect, including appointing and employing such
agents or attorneys in each jurisdiction where it shall be necessary to take action under this Agreement. 
 Section 5.11 Other
Covenants. So long as Seller maintains an equity ownership interest in Purchaser, Seller shall: 
 (a) file all tax
returns and reports required by law to be filed by it and pay all taxes required to be paid by it, except any such taxes that are being diligently contested in good faith by appropriate proceedings and for which adequate reserves in accordance with
GAAP have been set aside on its books, and it shall not file any tax return or report under any name other than its exact legal name; 
 (b) not, and shall not permit Purchaser to, make any election under Treasury Regulations Section 301.7701-3(c) (or any successor provision) to classify Purchaser as an association taxed as a corporation;

 (c) treat any indebtedness issued by Purchaser as debt for U.S. federal income tax purposes; 
 (d) maintain in place all policies and procedures, and take and continue to take all actions, described in the assumptions as to facts
relating to the separateness of Purchaser and Seller set forth in, and forming the basis of, the opinions delivered pursuant to Section 6.3 of the Note Purchase Agreements, and comply with, and cause Purchaser to comply with, the provisions of
Section 5.2(o) of the Indenture (as to Purchaser); 
 (e) cause Purchaser to perform its obligations under the agreements
(including any Transaction Documents) to which Purchaser is a party; 
 (f) not take any action to waive, repeal, amend, vary,
supplement or otherwise modify the organizational documents of Purchaser in a manner that would adversely affect the rights, privileges or preferences of any holder of any indebtedness of Purchaser; 
 (g) not take any action or cause or permit Purchaser (except as required by law) to take any action to cause Purchaser to become subject
to any insolvency or similar proceeding; 
 (h) not institute against Purchaser, or join any Person in instituting against
Purchaser, any insolvency or similar proceeding until one year and one day after the date on which any indebtedness of Purchaser has been paid in full; 
  

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 (i) not cause Purchaser to petition for bankruptcy before one year and one day have
elapsed since the final payments to any holder of any indebtedness of Purchaser or, if longer, the applicable preference period then in effect; 
 (j) not take any action to dissolve Purchaser; 
 (k) not pass a resolution to cause Purchaser
to be liquidated before one year and two days have elapsed since any indebtedness of Purchaser has been paid in full; and 
 (l) during any period in which Seller is not subject to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, deliver to Purchaser (i) audited financial statements of Seller with respect to its most recent fiscal
year no later than 90 days after the end of such fiscal year and (ii) unaudited interim financial statements of Seller with respect to each fiscal quarter (except for fiscal year-end) no later than 45 days after the end of such fiscal quarter,
in each case, prepared in accordance with GAAP in all material respects. 
 ARTICLE VI 
 THE CLOSING 
 Section 6.1 Closing. The closing of the transactions
contemplated hereby (the “Closing”) shall take place on the date hereof (the “Closing Date”) at the offices of Pillsbury Winthrop Shaw Pittman LLP, 1540 Broadway, New York, NY 10036, or such other place as the
parties mutually agree. 
 Section 6.2 Closing Deliverables of Seller. At the Closing, Seller shall deliver or cause to be delivered
to Purchaser the following: 
 (a) the Bill of Sale executed by Seller; 
 (b) an irrevocable direction to Counterparty to pay the Royalties evidenced by the Purchased Assets directly to the Purchaser Account in
the form set forth in Exhibit B signed by Seller; and 
 (c) such other certificates, documents and financing
statements as Purchaser may reasonably request, including (i) the documents contemplated by Article VI of the Note Purchase Agreements and (ii) a financing statement satisfactory to Purchaser to create, evidence and perfect the sale of the
Purchased Assets pursuant to Section 2.1(c) and the back-up security interest granted pursuant to Section 2.1(d). 
 Section 6.3
Closing Deliverables of Purchaser. At the Closing, Purchaser shall deliver or cause to be delivered to Seller the following: 
 (a) the Bill of Sale executed by Purchaser; and 
 (b) payment of the Purchase Price in accordance with
Section 2.3. 
  

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 ARTICLE VII 
 INDEMNIFICATION 
 Section 7.1 Indemnification by Seller. Seller hereby indemnifies and holds
each of Purchaser and its Affiliates and any and all of their respective partners, directors, managers, members, officers, employees, agents and controlling Persons (each, a “Purchaser Indemnified Party”) harmless from and against,
and will pay to each Purchaser Indemnified Party the amount of, any and all Losses incurred or suffered by such Purchaser Indemnified Party, whether or not involving a third party claim, demand, action or proceeding, arising out of (i) any
breach of any representation, warranty or certification made by Seller in any of the Transaction Documents or certificates given by Seller in writing pursuant hereto or thereto, (ii) any breach of or default under any covenant or agreement by
Seller pursuant to any Transaction Document or the License Documentation, (iii) any Excluded Liabilities and Obligations and (iv) any fees, expenses, costs, liabilities or other amounts incurred or owed by Seller to any brokers, financial
advisors or comparable other Persons retained or employed by it in connection with the transactions contemplated by this Agreement. Any amounts due to any Purchaser Indemnified Party hereunder shall be payable by Seller to such Purchaser Indemnified
Party promptly upon demand. 
 Section 7.2 Indemnification by Purchaser. Purchaser hereby indemnifies and holds each of Seller and its
Affiliates and any and all of their respective partners, directors, managers, members, officers, employees and agents (each, a “Seller Indemnified Party”) harmless from and against, and will pay to each Seller Indemnified Party the
amount of, any and all Losses incurred or suffered by such Seller Indemnified Party, whether or not involving a third party claim, demand, action or proceeding, arising out of any breach of or default under any covenant or agreement by Purchaser in
favor of Seller pursuant to any Transaction Document; provided, however, that this Section 7.2 shall apply only if, at the time of such breach or default, Purchaser is not “controlled” (as such term is defined in the
definition of “Affiliate”) by Seller or any of Seller’s Affiliates. Any amounts due to any Seller Indemnified Party hereunder shall be payable by Purchaser to such Seller Indemnified Party upon demand. 
 Section 7.3 Procedures. If any claim, demand, action or proceeding (including any investigation by any Governmental Authority) shall be brought or
alleged against an indemnified party in respect of which indemnity is to be sought against an indemnifying party pursuant to Section 7.1 or Section 7.2, the indemnified party shall, promptly after receipt of notice of the commencement of
any such claim, demand, action or proceeding, notify the indemnifying party in writing of the commencement of such claim, demand, action or proceeding, enclosing a copy of all papers served, if any; provided, that the omission to so notify
such indemnifying party will not relieve the indemnifying party from any liability that it may have to any indemnified party under Section 7.1 or Section 7.2 unless, and only to the extent that, such omission results in the forfeiture of,
or has a material adverse effect on the exercise or prosecution of, substantive rights or defenses by the indemnifying party. In case any such action is brought against an indemnified party and it notifies the indemnifying party of the commencement
thereof, the indemnifying party will be entitled, at the indemnifying party’s sole cost and expense, to participate therein and, to the extent that it may wish, to assume the defense thereof, with counsel reasonably 
  

 30 

 
satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel to the indemnifying party), and, after
notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party will not be liable to such indemnified party under this Article VII for any legal or other expenses subsequently
incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation. In any such proceeding, an indemnified party shall have the right to retain its own counsel, but the reasonable fees and expenses
of such counsel shall be at the expense of such indemnified party unless (a) the indemnifying party and the indemnified party shall have mutually agreed to the retention of such counsel, (b) the indemnifying party has assumed the defense
of such proceeding and has failed within a reasonable time to retain counsel reasonably satisfactory to such indemnified party or (c) the named parties to any such proceeding (including any impleaded parties) include both the indemnifying party
and the indemnified party and representation of both parties by the same counsel would be inappropriate due to actual or potential conflicts of interests between them based on the advice of counsel to the indemnifying party. It is agreed that the
indemnifying party shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees and expenses of more than one separate law firm (in addition to local counsel where necessary) for all
such indemnified parties. The indemnifying party shall not be liable for any settlement of any proceeding effected without its written consent, but, if settled with such consent or if there be a final judgment for the plaintiff, the indemnifying
party agrees to indemnify the indemnified party from and against any Loss by reason of such settlement or judgment. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement, compromise or
discharge of any claim or pending or threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement, compromise or
discharge, as the case may be, (i) includes an unconditional written release of such indemnified party, in form and substance reasonably satisfactory to the indemnified party, from all liability on claims that are the subject matter of such
claim or proceeding, (ii) does not include any statement as to an admission of fault, culpability or failure to act by or on behalf of any indemnified party and (iii) does not impose any continuing material obligation or restrictions on
any indemnified party. 
 Section 7.4 Exclusive Remedy. Except in the case of fraud or intentional breach, following the Closing, the
indemnification afforded by this Article VII shall be the sole and exclusive remedy for any and all Losses sustained or incurred by a party hereto in connection with the transactions contemplated by the Transaction Documents, including with respect
to any breach of any representation, warranty or certification made by a party hereto in any of the Transaction Documents or certificates given by a party hereto in writing pursuant hereto or thereto or any breach of or default under any covenant or
agreement by a party hereto pursuant to any Transaction Document. Notwithstanding anything in this Agreement to the contrary, in the event of any breach or failure in performance of any covenant or agreement contained in any Transaction Document,
the non-breaching party shall be entitled to specific performance, injunctive or other equitable relief pursuant to Section 8.2. 
  

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 ARTICLE VIII 
 MISCELLANEOUS 
 Section 8.1 Survival. All representations, warranties and covenants made
herein and in any other Transaction Document or any certificates delivered pursuant to this Agreement shall survive the execution and delivery of this Agreement and the Closing. The rights hereunder to indemnification, payment of Losses or other
remedies based on such representations, warranties and covenants shall not be affected by any investigation conducted with respect to, or any knowledge acquired (or capable of being acquired) at any time (whether before or after the execution and
delivery of this Agreement or the Closing) in respect of the accuracy or inaccuracy of or compliance with, any such representation, warranty or covenant. The waiver of any condition based on the accuracy of any representation or warranty, or on the
performance of or compliance with any covenant, shall not affect the rights hereunder to indemnification, payment of Losses or other remedies based on such representations, warranties and covenants. 
 Section 8.2 Specific Performance. Each of the parties hereto acknowledges that the other party hereto will have no adequate remedy at law if it
fails to perform any of its obligations under any of the Transaction Documents. In such event, each of the parties hereto agrees that the other party hereto shall have the right, in addition to any other rights it may have (whether at law or in
equity), to specific performance of this Agreement. 
 Section 8.3 Notices. All notices, consents, waivers and other communications
hereunder shall be in writing and shall be effective (a) upon receipt when sent through the mails, registered or certified mail, return receipt requested, postage prepaid, with such receipt to be effective the date of delivery indicated on the
return receipt, (b) upon receipt when sent by an overnight courier, (c) on the date personally delivered to an authorized officer of the party to which sent or (d) on the date transmitted by legible telecopier transmission with a
confirmation of receipt, in all cases, with a copy emailed to the recipient at the applicable address, addressed to the recipient as follows: 
 if to Seller, to: 
 Indevus Pharmaceuticals, Inc. 
 33 Hayden Avenue 
 Lexington, MA 02421-7996 
 Attention: Mark S. Butler, General Counsel 
 Telephone: 781-402-3402 
 Facsimile: 781-761-0402 
 Email: mbutler@indevus.com 
  

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 if to Purchaser, to: 
 Ledgemont Royalty Sub LLC 
 c/o Indevus Pharmaceuticals, Inc. 
 33 Hayden Avenue 
 Lexington, MA 02421-7996

 Attention: Mark S. Butler, General Counsel 
 Telephone: 781-402-3402 
 Facsimile: 781-761-0402 
 Email: mbutler@indevus.com 
 Each party hereto may, by notice
given in accordance herewith to each of the other party hereto, designate any further or different address to which subsequent notices, consents, waivers and other communications shall be sent. 
 Section 8.4 Successors and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and
their respective successors and permitted assigns. Seller shall not be entitled to assign any of its obligations and rights under any of the Transaction Documents or the License Documentation without the prior written consent of Purchaser;
provided, however, that Seller may, without the consent of Purchaser, assign any of its obligations or rights under the Transaction Documents or the License Documentation to any other Person with which it may merge or consolidate or to
which it may sell all or substantially all of its assets or all of its assets related to the Finished Products, provided that the assignee under such assignment agrees to be bound by the terms of the Transaction Documents or the License
Documentation, as applicable, and furnish a written agreement to Purchaser in form and substance reasonably satisfactory to Purchaser to that effect. Purchaser may assign any of its obligations and rights hereunder without the consent of Seller
subject to the limitations contained in the Allergan Consent. Purchaser shall give notice of any such assignment to Seller after the occurrence thereof. Seller shall be under no obligation to reaffirm any representations, warranties or covenants
made in this Agreement or any of the other Transaction Documents or take any other action in connection with any such assignment by Purchaser. 
 Section 8.5 Independent Nature of Relationship. Except for any equity ownership interest of Purchaser held by Seller, the relationship between Seller and Purchaser is solely that of seller and purchaser, and neither Seller nor
Purchaser has any fiduciary or other special relationship with the other party hereto or any of its Affiliates. Nothing contained herein or in any other Transaction Document shall be deemed to constitute Seller and Purchaser as a partnership, an
association, a joint venture or any other kind of entity or legal form. 
 Section 8.6 Entire Agreement. This Agreement, together with
the Exhibits hereto (which are incorporated herein by reference), and the other Transaction Documents constitute the entire agreement between the parties hereto with respect to the subject matter hereof and supersede all prior agreements,
understandings and negotiations, both written and oral, between the parties hereto with respect to the subject matter of this Agreement. No representation, inducement, promise, understanding, condition or warranty not set forth herein (or in the

  

 33 

 
Exhibits hereto or the other Transaction Documents) has been made or relied upon by either party hereto. Neither this Agreement nor any provision hereof is
intended to confer upon any Person other than the parties hereto and the other Persons referenced in Article VII any rights or remedies hereunder. 
 Section 8.7 Governing Law. 
 (a) This Agreement shall be construed in accordance with and governed by the
laws of the State of Delaware, without giving effect to the principles of conflicts of law thereof. 
 (b) All judicial
proceedings brought by either party hereto with respect to this Agreement may be brought in any state or federal court of competent jurisdiction in the Commonwealth of Massachusetts located in the City of Boston, and any appellate court from any
thereof, and by the execution and delivery hereof each party hereto accepts for itself and in connection with its properties, generally and unconditionally, the jurisdiction of such courts, and irrevocably agrees to be bound by any judgment rendered
thereby in connection with this Agreement, subject, however, to rights of appeal. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the
judgment or in any other manner provided by law. 
 (c) Each of the parties hereto hereby irrevocably and unconditionally
waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in
Section 8.7(b). Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 
 (d) Each of the parties hereto irrevocably consents to service of process in the manner provided for notices in Section 8.3. Nothing
in this Agreement will affect the right of any party hereto to serve process in any other manner permitted by law. 
 Section 8.8 Waiver
of Jury Trial. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE
TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER
PARTY HERETO WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTY HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
CERTIFICATIONS IN THIS SECTION 8.8. 
  

 34 

 Section 8.9 Severability. If one or more provisions of this Agreement are held to be invalid or
unenforceable by a court of competent jurisdiction, such provision shall be excluded from this Agreement and the balance of this Agreement shall be interpreted as if such provision were so excluded and shall remain in full force and effect be
enforceable in accordance with its terms. Any provision of this Agreement held invalid or unenforceable only in part or degree by a court of competent jurisdiction shall remain in full force and effect to the extent not held invalid or
unenforceable. 
 Section 8.10 Counterparts. This Agreement may be signed in any number of counterparts, each of which shall be an
original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective when each party hereto shall have received a counterpart hereof signed by the other party hereto. Any
counterpart may be executed by facsimile signature and such facsimile signature shall be deemed an original. 
 Section 8.11 Amendments;
No Waivers. Neither this Agreement nor any term or provision hereof may be amended, changed or modified except with the written consent of the parties hereto. No waiver of any right hereunder shall be effective unless such waiver is signed in
writing by the party hereto against whom such waiver is sought to be enforced. No failure or delay by either party hereto in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial
exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by law.

 Section 8.12 Limited Recourse. Seller accepts that the enforceability against Purchaser of any obligations of Purchaser hereunder
shall be limited to the assets of Purchaser, whether tangible or intangible, real or personal and the proceeds thereof. Once all such assets have been realized upon and such assets (and proceeds thereof) have been applied in accordance with the
Indenture, any outstanding obligations of Purchaser to Seller hereunder shall be extinguished. Seller further agrees that it shall take no action against any employee, director, officer or administrator of Purchaser in relation to this Agreement;
provided, that nothing herein shall limit Purchaser (or its permitted successors or assigns) from pursuing claims, if any, against any such Person; provided, further, that the foregoing shall not in any way limit, impair or
otherwise affect any rights of Seller to proceed against any employee, director, officer or administrator of Purchaser (a) for intentional and willful fraud or intentional and willful misrepresentations on the part of or by such employee,
director, officer or administrator or (b) for the receipt of any distributions or payments to which Seller or any successor in interest is entitled, other than distributions expressly permitted pursuant to the other Transaction Documents.

 Section 8.13 Acknowledgment and Agreement. Seller expressly acknowledges and agrees that all of Purchaser’s right, title and
interest in, to and under this Agreement shall be pledged and assigned to the Trustee as collateral by Purchaser pursuant to the Indenture, and Seller consents to such pledge and assignment, without regard to whether an event of default has occurred
and is continuing under the Indenture. Each of the parties hereto acknowledges and agrees that the Trustee, acting on behalf of the holders of the notes issued under the Indenture, is a third party beneficiary of the rights of Purchaser arising
hereunder and shall be entitled to exercise and/or enforce certain rights of Purchaser hereunder. 
 [SIGNATURE PAGE FOLLOWS] 
  

 35 

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

					
	INDEVUS PHARMACEUTICALS, INC.
		
	By:	 	 
		 	Name:	 	Glenn L. Cooper
		 	Title:	 	Chairman and Chief Executive Officer
	
	LEDGEMONT ROYALTY SUB LLC
		
	By:	 	Indevus Pharmaceuticals, Inc., its Manager
		
	By:	 	 
		 	Name:	 	Glenn L. Cooper
		 	Title:	 	Chairman and Chief Executive Officer

  

 36 

 EXHIBIT A 
 FORM OF BILL OF SALE 
 This BILL OF SALE is dated as of August 26, 2008 (the “Closing
Date”) by Indevus Pharmaceuticals, Inc., a Delaware corporation (“Seller”), in favor of Ledgemont Royalty Sub LLC, a Delaware limited liability company (“Purchaser”). 
 RECITALS 
 WHEREAS, Seller and Purchaser are
parties to that certain Purchase and Sale Agreement, dated as of the Closing Date (the “Purchase and Sale Agreement”), pursuant to which, among other things, Seller agrees to sell, assign, convey and transfer to Purchaser, and
Purchaser agrees to purchase, acquire and accept from Seller, all of Seller’s right, title and interest in, to and under the Purchased Assets, for the consideration described in the Purchase and Sale Agreement; and 
 WHEREAS, the parties hereto now desire to carry out the purposes of the Purchase and Sale Agreement by the execution and delivery of this instrument
evidencing Purchaser’s purchase, acquisition and acceptance of the Purchased Assets; 
 NOW, THEREFORE, in consideration of the premises
and the mutual agreements set forth in the Purchase and Sale Agreement and of other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
  

	 	1.	Seller, by this Bill of Sale, does hereby sell, transfer, convey, assign, contribute, grant, release, set over, confirm and deliver to Purchaser, and Purchaser does hereby purchase,
acquire and accept, all of Seller’s right, title and interest in, to and under the Purchased Assets. 

  

	 	2.	The parties hereto acknowledge that Purchaser is not assuming any of the Excluded Liabilities and Obligations. 

  

	 	3.	Seller hereby covenants that, at any time or from time to time after the Closing Date, at Purchaser’s reasonable request and without further consideration, Seller shall execute
and deliver to Purchaser such other instruments of sale, transfer, conveyance, assignment, contribution, granting and confirmation, provide such materials and information and take such other actions, each as Purchaser may reasonably deem necessary
to sell, transfer, convey, assign, contribute, grant, release, set over, confirm and deliver to Purchaser, and to confirm Purchaser’s title to, the Purchased Assets and to put Purchaser in actual possession and operating control of such
Purchased Assets and assist Purchaser in exercising all rights with respect thereto. 

  

	 	4.	 Seller represents, warrants and covenants that (i) it has good and indefeasible title to the Purchased Assets free and clear of all claims, liens and
encumbrances of any nature whatsoever, (ii) it has not made any prior sale, transfer, conveyance, assignment, contribution, granting, release, setting over, confirmation or delivery 

  

 A-1 

	 	 
of the Purchased Assets, (iii) it has the present lawful right, power and authority to sell, transfer, convey, assign, contribute, grant, release, set
over, confirm and deliver the Purchased Assets to Purchaser and (iv) all action has been taken that is required to make this Bill of Sale, and this Bill of Sale is, a legal, valid and binding obligation of Seller. 

 

	 	5.	Seller covenants to forever warrant and defend the sale of the Purchased Assets to Purchaser, its successors and assigns against any person or entity claiming an interest in the
Purchased Assets, and Seller shall defend its right to sell the Purchased Assets against all lawful claims and demands. 

  

	 	6.	This Bill of Sale shall be binding upon and inure to the benefit of Seller, Purchaser and their respective successors and assigns, for the uses and purposes set forth and referred
to above, effective immediately upon its delivery to Purchaser. 

  

	 	7.	THIS BILL OF SALE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL SUBSTANTIVE LAWS OF THE STATE OF DELAWARE WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO
CONFLICTS OF LAW, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

  

	 	8.	This Bill of Sale may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, but all of such counterparts shall together constitute
but one and the same instrument. 

  

	 	9.	The following terms as used herein shall have the following respective meanings: 

 “Affiliate” means, with respect to any Person, any other Person that, directly or indirectly, controls, is controlled by or is under common control with such Person or is a director, officer or
manager of such Person. For purposes of this definition, “control” of a Person means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether
through the ownership of voting securities, by contract or otherwise, and the terms “controlled” and “controlling” have meanings correlative to the foregoing. For purposes hereof, the term
“Affiliate” when used in respect of Seller shall be deemed to exclude Purchaser. 
 “Allergan Consent” means
the Consent and Agreement dated as of July 7, 2008 between Seller and Counterparty. 
 “Counterparty” means Allergan
USA, Inc., a Delaware corporation and successor-in-interest to Esprit Pharma, Inc. 
 “Excluded Liabilities and Obligations”
has the meaning set forth in Section 2.4 of the Purchase and Sale Agreement. 
  

 A-2 

 “FDA” means the United States Food and Drug Administration and any successor agency
thereto. 
 “Field” has the meaning set forth in Section 1.33 of the License Agreement. 
 “Finished Product” has the meaning set forth in Section 1.34 of the License Agreement. 
 “Governmental Authority” means the government of the United States, any other nation or any political subdivision thereof, whether state
or local, and any agency, authority (including supranational authority), commission, instrumentality, regulatory body, court, central bank or other Person exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
functions of or pertaining to government, including each Patent Office, the FDA and any other government authority in any country. 
 “Indevus Intellectual Property” has the meaning set forth in Section 1.44 of the License Agreement. 
 “License Agreement” means the Amended and Restated License, Commercialization and Supply Agreement dated as of September 18, 2007 between Seller and Counterparty, as supplemented by that certain letter agreement dated
December 12, 2007 executed by Allergan, Inc. and accepted and agreed by Seller and the Allergan Consent, together with any new, substitute or amended agreement relating to the Products, the Indevus Intellectual Property or other intellectual
property rights of Seller relating to the Products. The term “License Agreement” shall include all rights that arise therefrom and relate thereto. 
 “License Documentation” means the License Agreement, the Supernus Agreement and the Madaus Agreements. 
 “Madaus Agreements” has the meaning set forth in Section 1.58 of the License Agreement. 
 “New Arrangement” has the meaning set forth in Section 5.6(a) of the Purchase and Sale Agreement. 
 “Patent” means any pending or issued patent or continuation, continuation in part, division, extension or reissue thereof. 
 “Patent Office” means the applicable patent office, including the United States Patent and Trademark Office and any comparable foreign patent office, for any Indevus Intellectual Property that are Patents. 
 “Person” means any natural person, firm, corporation, limited liability company, partnership, joint venture, association, joint-stock
company, trust, unincorporated organization, Governmental Authority or any other legal entity, including public bodies, whether acting in an individual, fiduciary or other capacity. 
  

 A-3 

 “Products” means SANCTURA® and SANCTURA XRTM (and, in each case, the equivalent product irrespective of trade name). 
 “Purchased Assets” means, collectively, (a) Seller’s right, title and interest in, to and under the License Agreement to (i) receive all of the Royalties and (ii) receive the
quarterly reports produced by Counterparty pursuant to the License Agreement in respect of sales of the Products in the Territory, (b) the right to pay directly to Counterparty any amounts due and payable under the License Agreement from Seller
to Counterparty and, to the extent possible, cure any breach of the License Agreement by Seller, (c) the right to (i) pay directly to Supernus (or its wholly-owned subsidiary that owns the rights to receive such payments in accordance with
the Consent and Agreement by and between Supernus and Seller, dated March 7, 2008) any amounts due and payable under the Supernus Agreement from Seller to Supernus, (ii) provide any reports to Supernus (or to its wholly-owned subsidiary
that owns the rights to receive such payments in accordance with the Consent and Agreement by and between Supernus and Seller, dated March 7, 2008) that may be due under the Supernus Agreement from Seller and (iii) to the extent possible,
cure any breach of the Supernus Agreement by Seller, (d) to the extent assignable without the consent of any Person pursuant to the terms of the License Documentation as in effect on the Closing Date, the right to (i) initiate and
prosecute legal actions and proceedings to defend the Indevus Intellectual Property against infringement or interference by any other Person and (ii) defend the Indevus Intellectual Property against any claims or counterclaims of invalidity or
unenforceability, or declaratory judgment actions in respect thereof, subject to, in the case of each of clause (d)(i) and clause (d)(ii), the provisions of the License Documentation and the rights of Counterparty thereunder, (e) the right to
receive any Set-off pursuant to Section 2.2(c) of the Purchase and Sale Agreement and (f) the right to transfer, assign or pledge the foregoing, in whole or in part, subject to the limitations contained in the Allergan Consent, and the
proceeds of and the rights to enforce each of the foregoing. 
 “Royalties” means: 
 (a) all amounts paid, owed, accrued or otherwise required to be paid to Seller or any of its Affiliates as a result of the sale of any and all Products in
the Territory or otherwise pursuant to Section 6.2(b) of the License Agreement, and attributable to the period commencing on the Royalties Commencement Date, including (x) all amounts due or to be paid to Seller or any of its Affiliates in
lieu thereof and (y) all amounts due or to be paid to Seller or any of its Affiliates under Sections 6.1(b), 6.2(a), 6.2(b) (in the case of such Section 6.2(b), whether or not such amounts are a result of the sale of any Products) and
6.4(d) of the License Agreement, but excluding (i) Third Party Royalties due or to be paid pursuant to Section 6.2(c) of the License Agreement, (ii) Sales Force Reimbursement due or to be paid pursuant to Section 6.3 of the
License Agreement, (iii) amounts due pursuant to Sections 14.8 and 14.13(e) of the License Agreement and (iv) any amounts due or to be paid under the License Agreement in respect of Finished Products that are not Products; 
  

 A-4 

 (b) all indemnity payments, recoveries, damages or award or settlement amounts paid to Seller or any of
its Affiliates by any third party and arising out of or relating to the Indevus Intellectual Property in the Field or as a result of a breach by any Person of any of the License Documentation with respect thereto, including pursuant to
Section 5.5(c) or Section 5.5(d) of the Purchase and Sale Agreement; 
 (c) all amounts paid or payable to Seller or any of its
Affiliates by one or more third party licensees or sublicensees under any New Arrangement; 
 (d) all amounts paid or payable to Seller or any
of its Affiliates under any agreement entered into pursuant to the proviso contained in Section 2.4 of the License Agreement; 
 (e) all
other amounts paid by Counterparty, any Sublicensee or any other Person arising out of or related to or resulting from the Indevus Intellectual Property or the License Documentation (except for amounts excluded under clause (a)(i), clause (a)(ii),
clause (a)(iii) and clause (a)(iv) above); 
 (f) all accounts (as defined under the Delaware Uniform Commercial Code) evidencing the rights
to the payments and amounts described herein; and 
 (g) all proceeds (as defined under the Delaware Uniform Commercial Code) of any of the
foregoing. 
 “Royalties Commencement Date” means July 1, 2008. 
 “Sales Force Reimbursement” has the meaning set forth in Section 6.3 of the License Agreement. 
 “Samples” has the meaning set forth in Section 1.100 of the License Agreement. 
 “Set-off” means any set-off, off-set, rescission, counterclaim, reduction, deduction or defense. 
 “Sublicensee” means any sublicensee of Counterparty under the License Agreement. 
 “Supernus” has the meaning set forth in Section 1.104 of the License Agreement. 
 “Supernus Agreement” has the meaning set forth in Section 1.105 of the License Agreement. For the avoidance of doubt, the
“Supernus Agreement” includes the Consent and Agreement dated as of July 8, 2008 between Supernus and Seller. 
 “Territory” has the meaning set forth in Section 1.111 of the License Agreement. 
 “Third Party
Royalties” has the meaning set forth in Section 1.114 of the License Agreement. 
 [Signature Page Follows] 
  

 A-5 

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

					
	INDEVUS PHARMACEUTICALS, INC.
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	
	
	LEDGEMONT ROYALTY SUB LLC
		
	By:	 	Indevus Pharmaceuticals, Inc., its Manager
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

  

 A-6 

 EXHIBIT B 
 FORM OF COUNTERPARTY INSTRUCTION 
 August 26, 2008 
 BY FAX AND FEDEX 
 Allergan USA, Inc. (successor-in-interest to
Esprit Pharma, Inc.) 
 2 Tower Center Boulevard 
 East Brunswick,
NJ 08816 
 Attention: Vice President and General Counsel 
 FAX
no. (732) 828-9954 
 Allergan, Inc. 
 2525 Dupont Drive

 Irvine, CA 92612 
 Attention: General Counsel 
 FAX No. (714) 246-4774 
 Ladies and Gentlemen: 
 Reference is hereby made to that certain Amended and Restated License, Commercialization and Supply Agreement dated as of September 18, 2007 between
Indevus Pharmaceuticals, Inc., a Delaware corporation (“Indevus”), and Allergan USA, Inc., a Delaware corporation and successor-in-interest to Esprit Pharma, Inc. (“Allergan”), as supplemented by that certain letter
agreement dated December 12, 2007 executed by Allergan, Inc. and accepted and agreed by Indevus and that certain Consent and Amendment dated as of July 7, 2008 between Indevus and Allergan (together, the “License
Agreement”). Capitalized terms used without definition herein shall have the meanings they have by definition in the License Agreement. 
 Effective as of August 26, 2008, Indevus is selling, transferring, conveying, assigning,
contributing and granting certain Purchased Assets to Ledgemont Royalty Sub LLC, a Delaware limited liability company (“Purchaser”) (the term Purchased Assets as used in this instruction shall mean the “Rights” as defined
in the Consent and Amendment referred to above but excluding (i) Third Party Royalties due or to be paid pursuant to Section 6.2(c) of the License Agreement, (ii) Sales Force Reimbursement due or to be paid pursuant to
Section 6.3 of the License Agreement, (iii) amounts due pursuant to Sections 14.8 and 14.13(e) of the License Agreement and (iv) any amounts due or to be paid under the License Agreement in respect of Finished Products other than
SANCTURA® and SANCTURA XRTM). In addition, Purchaser has granted a security interest in the Purchased Assets to U.S. Bank National Association (the “Trustee”) for the
benefit of certain noteholders of Purchaser. 
  

 B-1 

 Accordingly, you are hereby irrevocably and unconditionally directed to make all payments of amounts due
with respect to the Purchased Assets to Indevus by Allergan on or after July 1, 2008 by wire transfer in United States dollars to the following account: 
 U.S. Bank 
 ABA No. 091000022 
 Account
No. 173103321092 
 Ref: Ledgemont Royalty 128354 
 Attention: Josh Tripi 
 In addition, you are hereby irrevocably and unconditionally instructed to send all notices sent or required
to be sent to Indevus pursuant to the License Agreement, including the quarterly reports produced by Allergan pursuant to Section 6.4 of the License Agreement, to the following parties at the following addresses, beginning immediately:

 Ledgemont Royalty Sub LLC 
 c/o Indevus Pharmaceuticals, Inc.

 33 Hayden Avenue 
 Lexington, MA 02421-7996 
 Attention: Mark S. Butler, General Counsel 
 Indevus Pharmaceuticals, Inc.,
as Servicer 
 33 Hayden Avenue 
 Lexington, MA 02421-7996

 Attention: Mark S. Butler, General Counsel 
 U.S. Bank
National Association, as Trustee 
 One Federal Street, 3rd Floor 
 Boston, Massachusetts 02110 
 Attention: Corporate Trust Services (Ledgemont Royalty Sub LLC) 
  

 B-2 

 Thank you for your cooperation regarding this matter. Please sign at the space provided below to indicate
your acknowledgement of the foregoing, and fax a signed copy of this letter to Mark S. Butler, Executive Vice President, Chief Administrative Officer and General Counsel, at 781.761.0402, for our records. 
  

			
	Very truly yours,
	
	INDEVUS PHARMACEUTICALS, INC.
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	Acknowledged:
	
	ALLERGAN USA, INC.
		
	By:	 	 
		 	Name:
		 	Title:
		 	Date:

  

 B-3 

 EXHIBIT C 
 INTELLECTUAL PROPERTY MATTERS 
 SANCTURA
XRTM PATENT APPLICATIONS 
 Title: Once-Daily Dosage Forms of Trospium 
  

											
	 Country
	  	Status	  	 Filing Date
	  	 Serial No. (and,
in case of USA,
Patent No.)
	  	 Expiration
Date
(if issued)
	  	Owner
	USA	  	Issued	  	Nov. 4, 2004	  	Patent no. 7410978 (Relating to serial no. 10/980,818)	  	Nov. 4, 2024	  	Supernus
	USA	  	Pending	  	Aug. 17, 2007	  	11/889,962	  	Nov. 4, 2024	  	Supernus
	USA	  	Pending	  	Aug. 17, 2007	  	11/889,963	  	Nov. 4, 2024	  	Supernus
	USA	  	Pending	  	Aug. 17, 2007	  	11/889,964	  	Nov. 4, 2024	  	Supernus
	USA	  	Pending	  	Aug. 17, 2007	  	11/889,985	  	Nov. 4, 2024	  	Supernus
	Australia	  	Pending	  	Nov. 4, 2004	  	2004289223	  	Nov. 4, 2024	  	Supernus
	Canada	  	Pending	  	Nov. 4, 2004	  	2,537,103	  	Nov. 4, 2024	  	Supernus
	Europe	  	Pending	  	Nov. 4, 2004	  	04800569.8	  	Nov. 4, 2024	  	Supernus
	Hong Kong	  	Pending	  	Nov. 4, 2004	  	06109091.3	  	Nov. 4, 2024	  	Supernus
	India	  	Pending	  	Nov. 4, 2004	  	1961/CHENP/2006	  	Nov. 4, 2024	  	Supernus
	Japan	  	Pending	  	Nov. 4, 2004	  	2006-538425	  	Nov. 4, 2024	  	Supernus
	Mexico	  	Pending	  	Nov. 4, 2004	  	PA/a/2006/004017	  	Nov. 4, 2024	  	SupernusForm of Note Purchase Agreement

 EXHIBIT 10.216 
 NOTE PURCHASE AGREEMENT 
 dated August 26, 2008 
 among 
 LEDGEMONT ROYALTY SUB LLC,

 INDEVUS PHARMACEUTICALS, INC. 
 and 
 THE PURCHASER NAMED HEREIN 
 $105,000,000 LEDGEMONT PHARMASM SECURED 16% NOTES DUE 2024 

 Table of Contents 
  

					
	 	  	 	  	Page
		  	 ARTICLE I
 INTRODUCTORY
	  	
			
	 Section 1.1
	  	Introductory	  	1
			
		  	ARTICLE II	  	
		  	RULES OF CONSTRUCTION AND DEFINED TERMS	  	
			
	 Section 2.1
	  	Rules of Construction and Defined Terms	  	1
			
		  	ARTICLE III	  	
		  	SALE AND PURCHASE OF ORIGINAL CLASS A NOTES; CLOSING	  	
			
	 Section 3.1
	  	Sale and Purchase of Original Class A Notes; Closing	  	1
			
		  	ARTICLE IV	  	
		  	REPRESENTATIONS, WARRANTIES AND AGREEMENTS OF PURCHASER	  	
			
	 Section 4.1
	  	Purchase for Investment and Restrictions on Resales	  	3
	 Section 4.2
	  	Purchaser Status	  	4
	 Section 4.3
	  	Source of Funds	  	4
	 Section 4.4
	  	Due Diligence	  	4
	 Section 4.5
	  	Enforceability of this Note Purchase Agreement	  	5
	 Section 4.6
	  	Other Parties	  	5
	 Section 4.7
	  	Confidentiality Agreement	  	5
	 Section 4.8
	  	Tax Matters	  	5
	 Section 4.9
	  	Reliance for Opinions	  	6
			
		  	ARTICLE V	  	
		  	REPRESENTATIONS AND WARRANTIES OF THE ISSUER AND INDEVUS	  	
			
	 Section 5.1
	  	Enforceability of this Note Purchase Agreement	  	6
	 Section 5.2
	  	Securities Laws	  	7
	 Section 5.3
	  	Investment Company Act and Trustee Matters	  	7
	 Section 5.4
	  	Governmental Authorizations	  	7
	 Section 5.5
	  	Compliance with ERISA	  	8
	 Section 5.6
	  	Use of Proceeds; Margin Regulations	  	8
	 Section 5.7
	  	Other Representations and Warranties	  	8

  

 i 

					
		 	ARTICLE VI	  	
		 	CONDITIONS TO CLOSING	  	
			
	 Section 6.1
	 	Proceedings	  	8
	 Section 6.2
	 	Special Opinion	  	9
	 Section 6.3
	 	True Sale and Non-Consolidation Opinion	  	9
	 Section 6.4
	 	Note Purchaser’s Counsel Opinion	  	9
	 Section 6.5
	 	Consummation of Transactions	  	9
	 Section 6.6
	 	Certification as to Note Purchase Agreement	  	9
	 Section 6.7
	 	No Actions	  	9
	 Section 6.8
	 	Principal Documents	  	10
	 Section 6.9
	 	Authorizations	  	10
	 Section 6.10
	 	Offering of Original Class A Notes	  	10
	 Section 6.11
	 	CUSIP Numbers	  	10
	 Section 6.12
	 	Instruction to Counterparty	  	10
	 Section 6.13
	 	Compliance with Laws	  	10
	 Section 6.14
	 	Filing of Financing Statements	  	11
	 Section 6.15
	 	Use of Proceeds	  	11
			
		 	ARTICLE VII	  	
		 	ADDITIONAL COVENANTS	  	
			
	 Section 7.1
	 	DTC	  	11
	 Section 7.2
	 	Expenses	  	11
			
		 	ARTICLE VIII	  	
		 	SURVIVAL OF CERTAIN PROVISIONS	  	
			
	 Section 8.1
	 	Survival of Certain Provisions	  	11
			
		 	ARTICLE IX	  	
		 	NOTICES	  	
			
	 Section 9.1
	 	Notices	  	12
			
		 	ARTICLE X	  	
		 	SUCCESSORS AND ASSIGNS	  	
			
	 Section 10.1
	 	Successors and Assigns	  	12
			
		 	ARTICLE XI	  	
		 	SEVERABILITY	  	
			
	 Section 11.1
	 	Severability	  	12

  

 ii 

					
		  	ARTICLE XII	  	
		  	WAIVER OF JURY TRIAL	  	
			
	 Section 12.1
	  	WAIVER OF JURY TRIAL	  	12
			
		  	ARTICLE XIII	  	
		  	GOVERNING LAW; CONSENT TO JURISDICTION	  	
			
	 Section 13.1
	  	Governing Law; Consent to Jurisdiction	  	13
			
		  	ARTICLE XIV	  	
		  	COUNTERPARTS	  	
			
	 Section 14.1
	  	Counterparts	  	14
			
		  	ARTICLE XV	  	
		  	TABLE OF CONTENTS AND HEADINGS	  	
			
	 Section 15.1
	  	Table of Contents and Headings	  	14
			
		  	ARTICLE XVI	  	
		  	TAX DISCLOSURE	  	
			
	 Section 16.1
	  	Tax Disclosure	  	14
			
		  	ARTICLE XVII	  	
		  	MISCELLANEOUS	  	
			
	 Section 17.1
	  	Limited Recourse	  	14
	 Section 17.2
	  	Distribution Reports	  	15
			
	 Annex A
	  	Rules of Construction and Defined Terms	  	
			
	 Schedule 1
	  	Purchaser	  	

  

 iii 

 NOTE PURCHASE AGREEMENT 
 August 26, 2008 
 To the Purchaser named in Schedule 1 
 Ladies and Gentlemen: 
 Ledgemont Royalty Sub LLC, a
Delaware limited liability company, and Indevus Pharmaceuticals, Inc., a Delaware corporation, hereby covenant and agree with you as follows: 
 ARTICLE I 
 INTRODUCTORY 
 Section 1.1 Introductory. The Issuer proposes, subject to the terms and conditions stated
herein, to issue and sell to the purchaser named in Schedule 1 (the “Purchaser”) and to the Other Note Purchasers the beneficial interests in the Global Notes evidencing $105,000,000 aggregate principal amount of the
Issuer’s Ledgemont PhaRMASM Secured 16% Notes due 2024. The Original Class A Notes are to be issued pursuant to the Indenture. 

The Original Class A Notes will be offered and sold to the Purchaser and the Other Note Purchasers (collectively, the “Note
Purchasers”) in transactions exempt from the registration requirements of the Securities Act. The Issuer will use the net proceeds from the offering of the Original Class A Notes to fund a portion of the Purchase Price to obtain the
Purchased Assets, to pay the expenses associated with the issuance of the Original Class A Notes and to fund the Interest Reserve Account in the amount of the Initial Interest Reserve Amount. 
 ARTICLE II 
 RULES OF CONSTRUCTION AND
DEFINED TERMS 
 Section 2.1 Rules of Construction and Defined Terms. The rules of construction set forth in Annex A shall
apply to this Note Purchase Agreement and are hereby incorporated by reference into this Note Purchase Agreement as if set forth fully in this Note Purchase Agreement. Capitalized terms used but not otherwise defined in this Note Purchase Agreement
shall have the respective meanings given to such terms in Annex A, which is hereby incorporated by reference into this Note Purchase Agreement as if set forth fully in this Note Purchase Agreement. Not all terms defined in Annex A are
used in this Note Purchase Agreement. 
 ARTICLE III 
 SALE AND PURCHASE OF ORIGINAL CLASS A NOTES; CLOSING 
 Section 3.1 Sale and Purchase of Original
Class A Notes; Closing. On the basis of the representations and warranties contained in, and subject to the terms and conditions of, this Note Purchase Agreement, the Issuer will issue and sell the Original Class A Notes to the
Purchaser, 

  

 1 

 
and the Purchaser will purchase, the principal amount of Original Class A Notes set forth opposite its name on Schedule 1. The Purchaser will
purchase such principal amount of Original Class A Notes at a purchase price equal to 100% of the principal amount thereof (the “Price”). Contemporaneously with entering into this Note Purchase Agreement, the Issuer is entering
into separate Note Purchase Agreements (the “Other Agreements”) substantially identical to this Note Purchase Agreement with other note purchasers (the “Other Note Purchasers”), providing for the sale on the Closing
Date to each of the Other Note Purchasers of Original Class A Notes in the principal amount specified opposite its name in Schedule 1 to such Other Agreement, at a purchase price equal to 100% of the principal amount thereof (the
“Other Prices” and, together with the Price, the “Note Purchase Price”). The Issuer shall not be obligated to deliver, and no Note Purchaser shall be required to purchase, any of the Original Class A Notes
except upon delivery of and payment for all the Original Class A Notes to be purchased on the Closing Date. 
 On the Closing Date, the
Issuer will deliver one or more Global Notes for the account of DTC evidencing the aggregate principal amount of Original Class A Notes to be acquired by all Note Purchasers pursuant to the Note Purchase Agreements. The Issuer will deliver the
Global Notes to DTC against payment by each such Note Purchaser of its respective portion of the aggregate Note Purchase Price for its beneficial interest therein by wire transfer of immediately available funds to the Trustee Closing Account.
Delivery to each Note Purchaser of the Original Class A Notes shall be made through the facilities of DTC on the Closing Date, upon payment therefor by each such Note Purchaser of its respective portion of the aggregate Note Purchase Price by
wire transfer of immediately available funds to the Trustee Closing Account. The Issuer and Indevus shall cause the Trustee to hold all such funds in trust for the Note Purchasers pending completion of the closing of the transactions contemplated by
this Note Purchase Agreement. Upon receipt by the Trustee of the aggregate Note Purchase Price from all Note Purchasers and the satisfaction of the conditions to closing set forth in Article VI, the Issuer and Indevus shall cause the Trustee to
disburse the Note Purchase Price in accordance with Section 3.3 of the Indenture. If the aggregate Note Purchase Price shall not have been received by the Trustee by 3:30 p.m. (New York City time) on the Closing Date, or if the closing of the
transactions contemplated by the Note Purchase Agreements shall not otherwise be capable of being consummated by 3:30 p.m. (New York City time) on the Closing Date, then each Note Purchaser who has paid its respective portion of the Note Purchase
Price shall have the right to instruct the Trustee at or after 3:30 p.m. (New York City time) on the Closing Date to return, and the Issuer and Indevus shall cause the Trustee to return, such portion of the Note Purchase Price to such Note Purchaser
prior to the close of business on the Closing Date or as soon thereafter as reasonably practicable. 
 If the Global Notes shall not be
tendered for the benefit of any Note Purchaser for the account of DTC in accordance with the foregoing provisions of this Section 3.1, or any of the conditions specified in Article VI shall not have been fulfilled to the satisfaction of any
Note Purchaser, such Note Purchaser shall, at its election, be relieved of all obligations (other than confidentiality obligations) under the applicable Note Purchase Agreement. 
  

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 ARTICLE IV 
 REPRESENTATIONS, WARRANTIES AND AGREEMENTS OF PURCHASER 
 The Purchaser agrees and acknowledges that
(x) the Issuer and respective counsel to the Issuer and Indevus and counsel to the Placement Agent may rely upon the accuracy and performance of the representations, warranties and agreements of the Purchaser contained in this Article IV and
(y) the Placement Agent may rely upon the accuracy and performance of the representations, warranties and agreements of the Purchaser contained in Sections 4.1, 4.2 and 4.4. 
 Section 4.1 Purchase for Investment and Restrictions on Resales. The Purchaser: 
 (a) acknowledges that the Original Class A Notes have not been and will not be registered under the Securities Act or the securities
laws of any U.S. state and may not be offered, sold, pledged or otherwise transferred except as set forth in the Indenture and the legend regarding transfers on its Original Class A Notes; 
 (b) agrees that, if it should resell or otherwise transfer the Original Class A Notes, in whole or in part, it will do so only
pursuant to an exemption from, or in a transaction not subject to, registration under the Securities Act, applicable state securities laws, the respective rules and regulations promulgated thereunder and the provisions of this Note Purchase
Agreement, and only to a Person whom it reasonably believes, at the time any buy order for such Original Class A Notes is originated, is (i) the Issuer or a subsidiary thereof, (ii) for so long as such Original Class A Notes are
eligible for resale pursuant to Rule 144A, a QIB that purchases for its own account or for the account of a QIB, to whom notice is given that the transfer is being made in reliance on Rule 144A, (iii) an Institutional Accredited Investor inside
the United States that is purchasing such Original Class A Notes for its own account or for the account of such an Institutional Accredited Investor for investment purposes and not with a view to, or for offer or sale in connection with, any
distribution in violation of the Securities Act or (iv) an Institutional Accredited Investor outside the United States in an offshore transaction in compliance with Rule 903 or 904 of Regulation S (if available), in each case unless consented
to by the Issuer and such offer, sale or other transfer occurs following the Resale Restriction Termination Date; 
 (c)
agrees that it will give to each Person to whom it transfers the Original Class A Notes, in whole or in part, notice of the restrictions on transfer of the Original Class A Notes; 
 (d) agrees that it will cause any Person to whom it intends to transfer the Original Class A Notes to execute and deliver a resale
confidentiality undertaking substantially in the form attached as Exhibit B to the Indenture and agrees not to make available or disclose any Information (as defined in Exhibit B to the Indenture) to such Person until such resale
confidentiality undertaking is so executed and delivered (and the parties hereto acknowledge and agree that any information provided by the Purchaser to any Person to whom it intends to transfer the Original Class A Notes that is provided after
such Person executes and delivers such resale confidentiality undertaking shall not, solely with respect to such information as may be provided to such Person, but not with respect to such information as may be retained by the Purchaser, be deemed
“Information” for purposes of the confidentiality agreement referenced in 

  

 3 

 
Schedule 1, and the Purchaser and its Affiliates shall not be liable in respect of the actions or omissions to act of such Person with respect to such
information), and the Purchaser otherwise agrees to comply with the procedures relating to the execution and delivery of such resale confidentiality undertaking set forth in the Indenture; 
 (e) acknowledges the restrictions and requirements applicable to transfers of the Original Class A Notes contained in the Indenture
and agrees that it will only offer or sell the Original Class A Notes in accordance with the Indenture and only to Permitted Holders; and 
 (f) represents that it is purchasing the Original Class A Notes for investment purposes and not with a view to resale or distribution thereof in contravention of the requirements of the Securities Act.

 Section 4.2 Purchaser Status. The Purchaser represents and warrants that, as of the date hereof, it is (i) a QIB and is
purchasing the Original Class A Notes for its own account or for the account of a QIB or (ii) an Institutional Accredited Investor. 
 Section 4.3 Source of Funds. The Purchaser represents, warrants and covenants that either: 
 (a) no Plan
Assets have been used to purchase an Original Class A Note; or 
 (b) to the extent that Plan Assets are used to purchase
an Original Class A Note (i) the use of such Plan Assets to purchase and hold Original Class A Notes will not constitute a non-exempt prohibited transaction within the meaning of Section 406 of ERISA or Section 4975 of the
Code, by reason of the application of one or more statutory or administrative exemptions or otherwise, or (ii) such assets are not considered Plan Assets by reason of being held in a separate account of an insurance company, under which amounts
payable or credited to the plan and to any participant or beneficiary of the plan are not affected by the investment performance of the separate account. 
 Section 4.4 Due Diligence. The Purchaser acknowledges that (i) it has made, either alone or together with its advisors, such independent investigation of the Issuer, Indevus, Counterparty, Madaus, Supernus
and their respective managements, assets and related matters, and such separate and independent investigation of the Purchased Assets and related matters, as the Purchaser deems to be, or such advisors have advised to be, necessary or advisable in
connection with the purchase of the Original Class A Notes pursuant to the transactions contemplated by this Note Purchase Agreement, (ii) it and its advisors have received all information and data that it and such advisors believe to be
necessary in order to reach an informed decision as to the advisability of the purchase of the Original Class A Notes pursuant to the transactions contemplated by this Note Purchase Agreement, (iii) it understands the nature of the
potential risks and potential rewards of the purchase of the Original Class A Notes, (iv) it is a sophisticated investor with investment experience and, in the event of a default on the Original Class A Notes, any termination of any
of the Principal Documents or termination of the Royalties under the Principal Documents or any liquidation or winding up of the Issuer, has the ability to bear complete loss of its investment, (v) it has such knowledge and experience in

  

 4 

 
financial and business matters that it is capable of evaluating the merits and risks of purchasing the Original Class A Notes and can bear the economic
risks of investing in the Original Class A Notes for an indefinite period of time and (vi) it has received and reviewed the Information Memorandum. The Purchaser acknowledges that it has obtained its own attorneys, business advisors and
tax advisors as to legal, business and tax advice (or has decided not to obtain such advice) and has not relied in any respect on the Issuer, Indevus or the Placement Agent for such advice. Except for (A) the representations, warranties and
covenants made by the Issuer and Indevus in this Note Purchase Agreement and the other Deal Documents, (B) the legal opinions provided to the Trustee or the Note Purchasers in connection with the transactions contemplated by the Deal Documents
and (C) the information in the Information Memorandum, the Purchaser is relying on its own investigation and analysis in entering into the transactions contemplated hereby. 
 Section 4.5 Enforceability of this Note Purchase Agreement. This Note Purchase Agreement has been duly authorized, executed and delivered by the
Purchaser and constitutes the valid, legally binding and enforceable obligations of the Purchaser, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting creditors’
rights generally and by general principles of equity. 
 Section 4.6 Other Parties. The Purchaser acknowledges and agrees that none of
Counterparty, Supernus or Madaus is a party to the transactions to which this Note Purchase Agreement relates, none of Counterparty, Supernus or Madaus has participated in the preparation of any document related thereto, including the Information
Memorandum, and none of Counterparty, Supernus or Madaus makes any representations or warranties whatsoever with respect to the transactions contemplated by the Information Memorandum, including the issuance of the Original Class A Notes by the
Issuer, the value thereof, the value of the rights transferred by Indevus to the Issuer with respect thereto or the risks associated therewith. 
 Section 4.7 Confidentiality Agreement. The Purchaser acknowledges and agrees that it is bound by the terms and conditions of the confidentiality agreement referenced in Schedule 1 (including, if the Purchaser is not a party
thereto, as if it were a party thereto), agrees to execute any documents reasonably requested by the Issuer to evidence such obligation and acknowledges and agrees that such confidentiality agreement remains in effect and will survive the execution
and delivery of this Note Purchase Agreement and the closing of the purchase of the Original Class A Notes pursuant to its terms. 
 Section 4.8 Tax Matters. 
 (a) The Purchaser represents and warrants that (i) it is not, and will not
become, a partnership, Subchapter S corporation or grantor trust for U.S. federal income tax purposes or (ii) it is or may become a partnership, Subchapter S corporation or grantor trust for U.S. federal income tax purposes but (A) none of
the direct or indirect beneficial owners of any of the interests in the Purchaser have allowed or caused, or will allow or cause, 50% or more of the value of such interests to be attributable to the ownership of Notes plus the ownership, if any, of
the Capital Securities of the Issuer or (B) such partnership, Subchapter S corporation or grantor trust was not formed with a principal purpose of permitting the Issuer to satisfy the 100-partner limitation in Treasury Regulation
Section 1.7704-1(h)(1)(ii). 
  

 5 

 (b) The Purchaser will not participate or transfer an interest in any Original
Class A Note to any Person who is or may become a partnership, Subchapter S corporation or grantor trust for U.S. federal income tax purposes unless (i) none of the direct or indirect beneficial owners of any of the interests in such
Person have allowed or caused, or will allow or cause, 50% or more of the value of such interests to be attributable to the ownership of Notes plus the ownership, if any, of the Capital Securities of the Issuer or (ii) such partnership,
Subchapter S corporation or grantor trust has not been formed with a principal purpose of permitting the Issuer to satisfy the 100-partner limitation in Treasury Regulation Section 1.7704-1(h)(1)(ii). 
 (c) Except as otherwise required by law, the Purchaser agrees to treat, and shall treat, the Original Class A Notes as debt of the
Issuer for U.S. federal income tax purposes. 
 (d) The Purchaser understands and acknowledges that failure to provide the
Issuer, the Trustee or any Paying Agent with the applicable U.S. federal income tax certifications (generally, an IRS Form W-9 (or successor applicable form) in the case of a Person that is a United States person (within the meaning of
Section 7701(a)(30) of the Code) or an appropriate IRS Form W-8 (or successor applicable form) in the case of a Person that is not a United States person (within the meaning of Section 7701(a)(30) of the Code)) may result in U.S. federal
back-up withholding from payments in respect of the Original Class A Notes. 
 Section 4.9 Reliance for Opinions. The Purchaser
acknowledges and agrees that the Issuer and Indevus and, for purposes of the opinions to be delivered to the Purchaser pursuant to Sections 6.2 and 6.4 (to the extent such opinions relate to exemptions from registration and prospectus requirements
under Applicable Law), counsel for the Issuer and Indevus and counsel for the Note Purchasers, respectively, may rely, without any independent verification thereof, upon the accuracy of the representations and warranties of the Purchaser, and
compliance by the Purchaser with its agreements, contained in Sections 4.1 and 4.2, and the Purchaser hereby consents to such reliance. 
 ARTICLE V 
 REPRESENTATIONS AND WARRANTIES OF THE ISSUER AND INDEVUS 
 Each of the Issuer and Indevus, jointly and severally, represents and warrants to the Purchaser as follows: 
 Section 5.1 Enforceability of this Note Purchase Agreement. This Note Purchase Agreement has been duly authorized, executed and delivered by the
Issuer and Indevus and constitutes the valid, legally binding and (subject to general equitable principles, insolvency, liquidation, reorganization and other laws of general application relating to creditors’ rights) enforceable obligations of
the Issuer and Indevus. 
  

 6 

 Section 5.2 Securities Laws. 
 (a) No securities of the same class (within the meaning of Rule 144A(d)(3)(i) under the Securities Act) as the Original Class A Notes
have been issued and sold by the Issuer within the six-month period immediately prior to the date hereof. 
 (b) Assuming the
accuracy of the statements in the certificate to be delivered by the Placement Agent pursuant to Section 6.10, neither the Issuer or Indevus nor any affiliate (as defined in Rule 144 under the Securities Act) of the Issuer or Indevus has
directly, or through any agent, (i) sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of any security (as defined in the Securities Act) that is or will be integrated with the sale of the Original Class A
Notes in a manner that would require the registration under the Securities Act of the Original Class A Notes or (ii) engaged in any form of general solicitation or general advertising in connection with the offering of the Original
Class A Notes (as those terms are used in Regulation D under the Securities Act), or in any manner involving a public offering within the meaning of Section 4(2) of the Securities Act, including publication or release of articles, notices
or other communications published in any newspaper, magazine or similar medium or broadcast over television, radio or internet, or any seminar or meeting whose attendees have been invited by any general solicitation or general advertising.

 (c) Assuming the accuracy of the representations and warranties of the Note Purchasers in each Note Purchase Agreement and
assuming the accuracy of the statements in the certificate to be delivered by the Placement Agent pursuant to Section 6.10, (i) the Indenture is not required to be qualified under the Trust Indenture Act and (ii) no registration under
the Securities Act of the Original Class A Notes is required in connection with the sale of the Original Class A Notes to the Note Purchasers as contemplated by the Note Purchase Agreements. 
 Section 5.3 Investment Company Act and Trustee Matters. 
 (a) Assuming the accuracy of the representations and warranties of the Note Purchasers in each Note Purchase Agreement and after giving
effect to the offering and sale of the Original Class A Notes and the purchase by the Issuer of the Purchased Assets, the Issuer will not be required to register as an “investment company” within the meaning of the Investment Company
Act of 1940, as amended. 
 (b) The Trustee (i) is not affiliated (as such term is defined in Rule 405 under the
Securities Act) with the Issuer or with any Person involved in the organization or operation of the Issuer and (ii) does not offer or provide credit or credit enhancement to the Issuer. 
 Section 5.4 Governmental Authorizations. No consent, approval or authorization of, or registration, filing or declaration with, any Governmental
Authority is required in connection with the execution, delivery or performance by the Issuer or Indevus of this Note Purchase Agreement or the transactions contemplated hereby other than such filings as shall have been made prior to the date hereof
and such filings required to be made after the date hereof under applicable federal and state securities laws, such as applicable state blue sky filings. 
  

 7 

 Section 5.5 Compliance with ERISA. The Issuer does not currently maintain and has not maintained
any Plan. Each Plan maintained by Indevus has been operated and administered substantially in compliance with all Applicable Laws. Neither the Issuer nor Indevus has incurred any material liability or penalty or could be reasonably expected to incur
any material liability or penalty pursuant to Title I or IV of ERISA or (with respect to its respective Plans) pursuant to the Code. None of the Issuer, Indevus or any ERISA Affiliate currently maintains or has maintained a pension plan that is
subject to Title IV of ERISA. The execution and delivery of this Note Purchase Agreement and the issuance and sale of the Original Class A Notes hereunder will not involve any transaction that is subject to the prohibitions of Section 406
of ERISA or in connection with which a tax could be imposed pursuant to Sections 4975(c)(1)(A)-(D) of the Code. The representation by the Issuer and Indevus in the preceding sentence is made in reliance upon and subject to the accuracy of the
Note Purchasers’ representation in Section 4.3 of each Note Purchase Agreement as to the sources of the funds used to pay the Note Purchase Price of the Original Class A Notes to be purchased by the Note Purchasers. 
 Section 5.6 Use of Proceeds; Margin Regulations. No part of the proceeds from the sale of the Original Class A Notes hereunder will be used,
directly or indirectly, for the purpose of buying or carrying any margin stock within the meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or for the purpose of buying or carrying or trading in any
securities under such circumstances as to involve the Issuer or Indevus in a violation of Regulation X of said Board (12 CFR 224) or to involve any broker or dealer in a violation of Regulation T of said Board (12 CFR 220). As used in this
Section 5.6, the terms “margin stock” and “purpose of buying or carrying” shall have the meanings assigned to them in said Regulation U. 
 Section 5.7 Other Representations and Warranties. Each of the representations and warranties made by the Issuer in Section 5.1 of the Indenture and by Indevus in Article III of the Purchase and Sale
Agreement and Section 4.1 of the Pledge and Security Agreement is hereby incorporated herein by reference as if fully set forth herein and given for the benefit of the Purchaser. 
 ARTICLE VI 
 CONDITIONS TO CLOSING 
 The obligations of the Purchaser hereunder are subject to the accuracy, on and as of the date hereof and the Closing Date, of the representations and
warranties of the Issuer and Indevus contained herein, to the accuracy of the statements of the Issuer and Indevus and their respective officers made in any certificates delivered pursuant hereto, to the performance by the Issuer and Indevus of
their respective obligations hereunder and to each of the following additional terms and conditions: 
 Section 6.1 Proceedings. All
proceedings and legal matters incident to the formation and constitution of the Issuer and the issuance of the Original Class A Notes, and all other legal matters relating to the Deal Documents and the transactions contemplated hereby and
thereby, shall be reasonably satisfactory in all material respects to the Purchaser, and the Issuer and Indevus shall have furnished to the Purchaser all documents and information that it or counsel to the Purchaser may reasonably request to enable
them to pass upon such matters. 
  

 8 

 Section 6.2 Special Opinion. Burns & Levinson LLP shall have furnished to the Note
Purchasers their opinion, as special counsel to the Issuer and Indevus, addressed to the Note Purchasers and dated the Closing Date, in form and substance reasonably satisfactory to the Note Purchasers. 
 Section 6.3 True Sale and Non-Consolidation Opinion. Burns & Levinson LLP shall have furnished to the Note Purchasers their reasoned
opinion addressed to the Note Purchasers, dated the Closing Date, as to the sale, transfer, conveyance, assignment, contribution and granting by Indevus of the Purchased Assets to the Issuer constituting a true sale and capital contribution and not
a secured loan and as to the non-consolidation of the Issuer in a bankruptcy proceeding of Indevus, which opinion shall be in form and substance reasonably satisfactory to the Note Purchasers. 
 Section 6.4 Note Purchaser’s Counsel Opinion. Pillsbury Winthrop Shaw Pittman LLP, special counsel to the Note Purchasers, shall have
furnished to the Note Purchasers their opinion addressed to the Note Purchasers dated the Closing Date as to such matters related to the Deal Documents as the Note Purchasers may reasonably request. 
 Section 6.5 Consummation of Transactions. All of the transactions contemplated by the Deal Documents to be completed on or before the Closing Date
shall have been consummated or shall be consummated concurrently with the transactions contemplated hereby in compliance with Applicable Law without amendment or waiver of any material condition thereof, the Purchaser shall have received executed
copies of the Deal Documents (which shall be in full force and effect) and the Trustee shall have received one or more certificates (endorsed for transfer) representing all of the Capital Securities of the Issuer to be held by the Trustee pursuant
to the terms of the Pledge and Security Agreement. 
 Section 6.6 Certification as to Note Purchase Agreement. Each of the Issuer and
Indevus shall have furnished to the Note Purchasers a certificate, dated the Closing Date, of its respective Responsible Officer, stating that, as of the Closing Date, the representations and warranties of the Issuer or Indevus, as the case may be,
in and incorporated into this Note Purchase Agreement are true and correct in all material respects (except that any such representations or warranties that are qualified in respect of materiality or Material Adverse Effect shall be true and correct
in all respects) and the Issuer or Indevus, as the case may be, has complied with all agreements and satisfied all conditions on its part to be performed or satisfied hereunder on or prior to the Closing Date. 
 Section 6.7 No Actions. No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by
any Governmental Authority that would, as of the Closing Date, prevent the issuance or sale of the Original Class A Notes, and no injunction, restraining order or order of any other nature by any federal or state court of competent jurisdiction
shall have been issued as of the Closing Date that would prevent the issuance or sale of the Original Class A Notes. 
  

 9 

 Section 6.8 Principal Documents. The Principal Documents, each in the form previously furnished to
counsel to the Note Purchasers, shall be in full force and effect, and the Note Purchasers shall have received upon prior written request therefor a true, correct and complete copy of each of the Principal Documents. 
 Section 6.9 Authorizations. Each of the Issuer and Indevus shall have furnished to the Note Purchasers (i) a copy of the resolutions, consents or
other documents, certified by a Responsible Officer of the Issuer or Indevus, as the case may be, as of the Closing Date, duly authorizing the execution, delivery and performance of the Deal Documents to which it is a party and any other documents
to be executed on or prior to the Closing Date by or on behalf of it in connection with the transactions contemplated thereby, and (ii) certified copies of its respective organizational documents, including as such documents have been amended to
effect the transactions contemplated by the Deal Documents. 
 Section 6.10 Offering of Original Class A Notes. The Placement Agent
shall have delivered to the Issuer a certificate as to the manner of the offering of the Original Class A Notes and the number and character of the offerees contacted, which certificate shall state that the Placement Agent (i) did not solicit offers
for, or offer, the Original Class A Notes by means of any form of general solicitation or general advertising or in any manner involving a public offering within the meaning of Section 4(2) of the Securities Act and (ii) solicited offers for the
Original Class A Notes only from, and offered the Original Class A Notes only to, (a) Persons who it reasonably believed were QIBs or Institutional Accredited Investors or, if any such Person was buying for one or more institutional accounts for
which such Person was acting as fiduciary or agent, only when such Person reasonably believed that each such account was a QIB or an Institutional Accredited Investor, as applicable, and (b) in the case of offers outside the United States, to
institutions that are not U.S. persons (as defined in Regulation S) in accordance with Rule 903 of Regulation S, and shall further state that counsel to the Issuer and Indevus and to the Note Purchasers may rely thereon in rendering their respective
opinions to be delivered hereunder. 
 Section 6.11 CUSIP Numbers. Standard & Poor’s CUSIP Service Bureau, as agent for the
National Association of Insurance Commissioners, shall have issued CUSIP numbers and ISIN numbers for the Original Class A Notes. 
 Section
6.12 Instruction to Counterparty. The Note Purchasers shall have received a copy of the Counterparty Instruction provided pursuant to Section 6.2(b) of the Purchase and Sale Agreement, which shall be certified by a Responsible Officer of
Indevus as having been sent to Counterparty on or prior to the Closing Date. 
 Section 6.13 Compliance with Laws. If requested by a
Note Purchaser, the Issuer shall have provided such Note Purchaser with such information as it may reasonably request to enable such Note Purchaser to determine whether such purchase shall (i) be permitted by the laws and regulations of each
jurisdiction to which such Note Purchaser is subject, without recourse to provisions (such as Section 1405(a)(8) of the New York Insurance Law) permitting limited investments by insurance companies without restriction as to the character of the
particular investment and (ii) not violate any Applicable Law (including Regulation T, U or X of the Board of Governors of the Federal Reserve System). 
  

 10 

 Section 6.14 Filing of Financing Statements. The filings of financing statements under the UCC and
other recordings required or reasonably requested to be made to perfect a security interest in the Purchased Assets sold, transferred, conveyed, assigned, contributed and granted on the Closing Date, including those specified in Exhibit E to
the Indenture, shall have been duly made. 
 Section 6.15 Use of Proceeds. The Issuer will apply the proceeds of the sale of the
Original Class A Notes as set forth in Section 1.1. 
 ARTICLE VII 
 ADDITIONAL COVENANTS 
 Section 7.1 DTC. The Issuer will, and Indevus will
cause the Issuer to, use reasonable best efforts to comply with all agreements set forth in the representation letter of the Issuer to DTC relating to the approval of the Original Class A Notes by DTC for “book-entry” transfer.

 Section 7.2 Expenses. The Issuer and Indevus jointly and severally agree to pay or cause to be paid from the proceeds of the
issuance of the Original Class A Notes all reasonable, documented Transaction Expenses of Pillsbury Winthrop Shaw Pittman LLP, acting as outside counsel to the Note Purchasers, it being understood that neither the Issuer nor Indevus will
reimburse any other expenses of any Note Purchasers (including expenses of any other counsel). 
 ARTICLE VIII 
 SURVIVAL OF CERTAIN PROVISIONS 
 Section 8.1 Survival of Certain Provisions. The representations, warranties, covenants and agreements contained in this Note Purchase Agreement shall survive (a) the execution and delivery of this Note Purchase Agreement and the
Original Class A Notes and (b) the purchase or transfer by any Note Purchaser of any Original Class A Note or portion thereof or interest therein. All such provisions are binding upon and may be relied upon by any subsequent holder or
beneficial owner of an Original Class A Note that has executed and delivered to the Registrar a Confidentiality Agreement in compliance with the procedures set forth in the Indenture, regardless of any investigation made at any time by or on
behalf of any Note Purchaser or any other holder or beneficial owner of an Original Class A Note; provided, however, that the representations, warranties, covenants and agreements contained in Section 4.8 may be relied upon
regardless of whether such holder or beneficial owner has executed and delivered to the Registrar such Confidentiality Agreement. All statements contained in any certificate or other instrument delivered by or on behalf of any party hereto pursuant
to this Note Purchase Agreement shall be deemed to have been relied upon by each other party hereto and shall survive the consummation of the transactions contemplated hereby regardless of any investigation made by or on behalf of any such party.
This Note Purchase Agreement and the other Deal Documents embody the entire agreement and understanding among the parties hereto and supersede all prior 

  

 11 

 
agreements and understandings relating to the subject matter hereof, other than the separate Confidentiality Agreements entered into between each Note
Purchaser and Indevus relating to the transactions contemplated hereby. 
 ARTICLE IX 
 NOTICES 
 Section 9.1 Notices. All statements, requests, notices and
agreements hereunder shall be in writing and delivered by hand, mail, overnight courier or telefax as follows: 
 (a) if to
the Purchaser, in accordance with Schedule 1; 
 (b) if to the Issuer, in accordance with Section 12.5 of the
Indenture; and 
 (c) if to Indevus, in accordance with Section 8.3 of the Purchase and Sale Agreement. 
 ARTICLE X 
 SUCCESSORS AND ASSIGNS

 Section 10.1 Successors and Assigns. This Note Purchase Agreement will inure to the benefit of and be binding upon the parties
hereto and their respective successors, permitted assignees and permitted transferees. So long as any of the Notes are Outstanding, neither the Issuer nor Indevus may assign any of its rights or obligations hereunder or any interest herein without
the prior written consent of the Purchaser. 
 ARTICLE XI 
 SEVERABILITY 
 Section 11.1 Severability. Any provision of this Note Purchase Agreement that
is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall (to the full extent permitted by law) not invalidate or render unenforceable such provision in any other jurisdiction. 
 ARTICLE XII 
 WAIVER OF JURY TRIAL 
 Section 12.1 WAIVER OF JURY TRIAL. THE PURCHASER, THE ISSUER AND INDEVUS HEREBY WAIVE TRIAL BY JURY IN ANY ACTION BROUGHT ON OR WITH RESPECT TO
THIS NOTE PURCHASE AGREEMENT. 
  

 12 

 ARTICLE XIII 
 GOVERNING LAW; CONSENT TO JURISDICTION 
 Section 13.1 Governing Law; Consent to Jurisdiction.

 (a) THIS NOTE PURCHASE AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL SUBSTANTIVE LAWS OF THE
STATE OF NEW YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW OTHER THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAWS. The parties hereto hereby submit to the non-exclusive jurisdiction of the federal and state courts of competent jurisdiction in the Borough of Manhattan in The City of New York in any suit or proceeding
arising out of or relating to this Note Purchase Agreement or the transactions contemplated hereby. 
 (b) If, for the purpose
of obtaining a judgment or order in any court, it is necessary to convert a sum due hereunder to any Noteholder from U.S. dollars into another currency, each of the Issuer and Indevus has agreed, and each Noteholder by holding an Original
Class A Note will be deemed to have agreed, to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which, in accordance with normal banking procedures, such Noteholder could purchase U.S. dollars
with such other currency in the Borough of Manhattan, The City of New York on the Business Day preceding the day on which final judgment is given. 
 (c) The obligation of each of the Issuer and Indevus in respect of any sum payable by it to a Noteholder shall, notwithstanding any judgment or order in a Judgment Currency, be discharged only to the extent that, on
the Business Day following receipt by such Noteholder of such security of any sum adjudged to be so due in the Judgment Currency, such Noteholder may in accordance with normal banking procedures purchase U.S. dollars with the Judgment Currency. If
the amount of U.S. dollars so purchased is less than the sum originally due to such Noteholder in the Judgment Currency (determined in the manner set forth in Section 13.1(b)), each of the Issuer and Indevus agrees, as a separate obligation and
notwithstanding any such judgment, to indemnify such Noteholder against such loss, and, if the amount of the U.S. dollars so purchased exceeds the sum originally due to such Noteholder, such Noteholder agrees to remit to the Issuer or Indevus, as
the case may be, such excess, provided that such Noteholder shall have no obligation to remit any such excess as long as the Issuer or Indevus, as the case may be, shall have failed to pay such Noteholder any obligations due and payable under the
Original Class A Notes of such Noteholder, in which case such excess may be applied to such obligations of the Issuer or Indevus, as the case may be, under such Original Class A Notes in accordance with the terms thereof. The foregoing
indemnity shall constitute a separate and independent obligation of the Issuer and Indevus and shall continue in full force and effect notwithstanding any such judgment or order as aforesaid. 
  

 13 

 ARTICLE XIV 
 COUNTERPARTS 
 Section 14.1 Counterparts. This Note Purchase Agreement may be executed in any
number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same Note Purchase Agreement. 
 ARTICLE XV 
 TABLE OF CONTENTS AND HEADINGS 
 Section 15.1 Table of Contents and Headings. The Table of Contents and headings of the Articles and Sections of this Note Purchase Agreement have
been inserted for convenience of reference only, are not to be considered a part hereof and shall in no way modify or restrict any of the terms or provisions hereof. 
 ARTICLE XVI 
 TAX DISCLOSURE 
 Section 16.1 Tax Disclosure. Notwithstanding anything expressed or implied to the contrary herein, the Purchaser and its respective employees,
representatives and agents may disclose to any and all Persons, without limitation of any kind, the tax treatment and the tax structure of the transactions contemplated by this Note Purchase Agreement and the agreements and instruments referred to
herein and all materials of any kind (including opinions or other tax analyses) that are provided to the Purchaser relating to such tax treatment and tax structure; provided, however, that neither the Purchaser nor any employee,
representative or other agent thereof shall disclose any other information that is not relevant to understanding the tax treatment and tax structure of such transactions (including the identity of any party and any information that could lead
another to determine the identity of any party) or any other information to the extent that such disclosure could reasonably result in a violation of any federal or state securities law. For these purposes, the tax treatment of the transactions
contemplated by this Note Purchase Agreement and the agreements and instruments referred to herein means the purported or claimed U.S. federal or state tax treatment of such transactions. Moreover, the tax structure of the transactions contemplated
by this Note Purchase Agreement and the agreements and instruments referred to herein includes any fact that may be relevant to understanding the purported or claimed U.S. federal or state tax treatment of such transactions. 
 ARTICLE XVII 
 MISCELLANEOUS 

Section 17.1 Limited Recourse. Each of the parties hereto accepts that the enforceability against the Issuer of any obligations of the Issuer
hereunder shall be limited to the assets of the Issuer, whether tangible or intangible, real or personal (including the Collateral) and the proceeds thereof. Once all such assets have been realized upon and such assets (and proceeds thereof) have
been applied in accordance with Article III of the Indenture, any outstanding obligations of the Issuer shall be extinguished. Each of the parties hereto further 

  

 14 

 
agrees that it shall take no action against any employee, partner, director, officer, member, counsel, manager, representative or administrator of the Issuer
or the Trustee under this Note Purchase Agreement; provided, that nothing herein shall limit the Issuer (or its permitted successors or assigns, including any party hereto that becomes such a successor or assign) from pursuing claims, if any,
against any such Person. The provisions of this Section 17.1 shall survive termination of this Note Purchase Agreement and the Indenture; provided, further, that the foregoing shall not in any way limit, impair or otherwise affect
any rights of any party to proceed against any employee, partner, director, officer, member, counsel, manager, representative or administrator of the Issuer (a) for intentional and willful fraud or intentional and willful misrepresentations on
the part of or by such employee, partner, director, officer, member, counsel, manager, representative or administrator or (b) for the receipt of any distributions or payments to which the Issuer or any successor in interest is entitled, other
than distributions expressly permitted pursuant to the other Deal Documents. 
 Section 17.2 Distribution Reports. Each party hereto
acknowledges and agrees that the Trustee may effect delivery of any Distribution Report (including the materials accompanying such Distribution Report) by making such Distribution Report and accompanying materials available by posting such
Distribution Report and accompanying materials on IntraLinks or a substantially similar electronic transmission system; provided, however, that, upon written notice to the Trustee, any Noteholder may decline to receive such
Distribution Report and accompanying materials via IntraLinks or a substantially similar electronic transmission system, in which case such Distribution Report and accompany materials shall be provided as otherwise set forth in the Deal Documents.
Subject to the conditions set forth in the proviso in the immediately preceding sentence, nothing in this Section 17.2 shall prejudice the right of the Trustee to make such Distribution Report and accompany materials available in any other
manner specified in the Deal Documents. 
 [SIGNATURE PAGE FOLLOWS] 
  

 15 

 If the foregoing is in accordance with your understanding of this Note Purchase Agreement, kindly sign
and return to us one of the counterparts hereof, whereupon it will become a binding agreement between us and you in accordance with its terms. 
  

					
	Very truly yours,
	
	LEDGEMONT ROYALTY SUB LLC
		
	By:	 	Indevus Pharmaceuticals, Inc., its Manager
			
	By:	 	 	 	 
		 	Name:	 	Glenn L. Cooper
		 	Title:	 	Chairman and Chief Executive Officer
	
	INDEVUS PHARMACEUTICALS, INC.
			
	By:	 	 	 	 
		 	Name:	 	Glenn L. Cooper
		 	Title:	 	Chairman and Chief Executive Officer

 [PURCHASER SIGNATURE PAGE] 

 ANNEX A 
 RULES OF CONSTRUCTION AND DEFINED TERMS 
 Unless the context otherwise requires, in this Annex A and each Deal
Document (or other document) to which this Annex A is attached: 
  

	(a)	A term has the meaning assigned to it and an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP. 

  

	(b)	Unless otherwise defined, all terms used herein or therein that are defined in the UCC shall have the meanings stated in the UCC. 

  

	(c)	Words of the masculine, feminine or neuter gender shall mean and include the correlative words of other genders, and words in the singular shall include the plural, and vice versa.

  

	(d)	The terms “include”, “including” and similar terms shall be construed as if followed by the phrase “without limitation”. 

  

	(e)	References to an agreement or other document include references to such agreement or document as amended, restated, reformed, supplemented or otherwise modified in accordance with
the terms thereof and include any Annexes, Exhibits and Schedules attached thereto, and the provisions thereof apply to successive events and transactions. 

  

	(f)	References to any statute or other legislative provision shall include any statutory or legislative modification or re-enactment thereof, or any substitution therefor.

  

	(g)	References to any Person shall be construed to include such Person’s successors and permitted assigns. 

  

	(h)	The word “will” shall be construed to have the same meaning and effect as the word “shall”. 

  

	(i)	The words “hereof”, “herein”, “hereunder” and similar terms when used in this Annex A or any Deal Document (or other document) shall refer to
this Annex A or such Deal Document (or other document) as a whole and not to any particular provision hereof or thereof, and Article, Section, Annex, Schedule and Exhibit references herein and therein are references to Articles and Sections
of, and Annexes, Schedules and Exhibits to, the relevant Deal Document (or other document) unless otherwise specified. 

  

	(j)	In the computation of a period of time from a specified date to a later specified date, the word “from” means “from and including” and each of the words
“to” and “until” means “to but excluding”. 

  

	(k)	References to a class of Notes shall be to the Original Class A Notes, to the Class B Notes or to a class of Refinancing Notes, as applicable. 

  

	(l)	References to the Notes include the terms and conditions in the relevant Deal Document (or other document) applicable to the Notes, and any reference to any amount of money due or
payable by reference to the Notes shall include any sum covenanted to be paid by the Issuer under the relevant Deal Document (or other document) in respect of the Notes. 

	(m)	References to any action, remedy or method of judicial proceeding for the enforcement of the rights of creditors or of security shall be deemed to include, in respect of any
jurisdiction other than the State of New York, references to such action, remedy or method of judicial proceeding for the enforcement of the rights of creditors or of security available or appropriate in such jurisdiction as shall most nearly
approximate such action, remedy or method of judicial proceeding described or referred to in the relevant Deal Document (or other document). 

  

	(n)	Where any payment is to be made, any funds are to be applied or any calculation is to be made under any Deal Document (or other document) on a day that is not a Business Day, unless
any Deal Document (or other document) otherwise provides, such payment shall be made, such funds shall be applied and such calculation shall be made on the next succeeding Business Day, and payments shall be adjusted accordingly, including interest
unless otherwise specified; provided, however, that no interest shall accrue in respect of any payments made on Fixed Rate Notes on that next succeeding Business Day. 

  

	(o)	References to any Calculation Date or Relevant Calculation Date, in each case that would be prior to the first Calculation Date that follows the Closing Date, shall be deemed to
refer to the Closing Date. 

 “144A Global Note” has the meaning set forth in Section 2.1(b) of the Indenture.

 “Acceleration Default” means any Event of Default of the type described in Section 4.1(f) of the Indenture.

 “Acceleration Notice” means a written notice given after the occurrence and continuation of an Event of Default to the
Issuer by the Senior Trustee pursuant to Section 4.2 of the Indenture declaring all Outstanding principal of and accrued and unpaid interest on the Notes to be immediately due and payable. 
 “Accounts” means the Collection Account, any Redemption Account, any Escrow Account, the Capital Account, the Interest Reserve Account,
the Tax Distribution Escrow Account and any other account established pursuant to Section 3.1 of the Indenture. 
 “Act” has the meaning set forth in Section 1.3(a) of the Indenture. 
 “Actual Beneficial Holder
List” has the meaning set forth in Section 2.5(d) of the Indenture. 
 “Additional Interest” means, with
respect to the Notes, interest accrued on the amount of any interest and Premium, if any, in respect of such Notes that is not paid when due at the Stated Rate of Interest of such Notes for each Interest Accrual Period until any such unpaid interest
or Premium is paid in full, compounded quarterly on each Payment Date, to the fullest extent permitted by Applicable Law. 
 “Affiliate” means, with respect to any Person, any other Person that, directly or indirectly, controls, is controlled by or is under common control with such Person or is a director, officer or manager of such Person. For
purposes of this definition, “control” of a Person means the possession, directly or indirectly, of the power (a) to vote 10% or more of the Capital Securities (on a fully diluted basis) of such Person having ordinary voting
power for the election of directors, managing members or general partners (as applicable) or (b) to direct or cause the direction of the management and policies of such Person, whether through the ownership of Voting Securities, by contract or
otherwise, and the terms “controlled” and “controlling” have meanings correlative to the foregoing. 
 “Agent Members” has the meaning set forth in Section 2.10(a) of the Indenture. 
 “Applicable
Law” means, with respect to any Person, all laws, rules, regulations and orders of Governmental Authorities applicable to such Person or any of its properties or assets. 
 “Applicable Treasury Rate” for any Redemption Date means the interest rate (expressed as a semiannual decimal and, in the case of United
States Treasury bills, converted to a bond equivalent yield) determined on the fourth Business Day prior to such Redemption Date to be the per annum rate equal to the semiannual yield to maturity for United States Treasury securities maturing on the
Average Life Date of the Original Class A Notes as of such Redemption Date and trading in the public securities markets either (a) as determined by interpolation between the most recent weekly average yield to maturity for two series of
United States Treasury securities trading in the public securities markets, (i) one maturing as close as possible to, but earlier than, 

 
the Average Life Date of the Original Class A Notes and (ii) the other maturing as close as possible to, but later than, the Average Life Date of
the Original Class A Notes, in each case as published in the most recent H.15 (519) or (b) if a weekly average yield to maturity for United States Treasury securities maturing on the Average Life Date of the Original Class A
Notes is reported in the most recent H.15 (519), such weekly average yield to maturity as published in such H.15 (519). 
 “Applicants” has the meaning set forth in Section 6.14 of the Indenture. 
 “Approved Holder
List” has the meaning set forth in Section 2.5(d) of the Indenture. 
 “Audit Expenses” has the meaning set
forth in Section 6.15(b) of the Indenture. 
 “Authorized Agent” means, with respect to the Notes, any authorized
Calculation Agent, Paying Agent or Registrar acting as such for the Notes. 
 “Available Collections Amount” means, for any
Payment Date, the sum of (a) the amount on deposit in the Collection Account as of the Calculation Date immediately preceding such Payment Date and (b) the amount of any net investment income on amounts on deposit in the Accounts (other
than the Capital Account and the Tax Distribution Escrow Account) as of such Calculation Date. 
 “Average Life Date” of the
Original Class A Notes means the date that follows the applicable Redemption Date by a period equal to the Remaining Weighted Average Life of the Original Class A Notes. 
 “Bankruptcy Code” means Title 11 of the United States Code, as amended. 
 “Base Case Amortization Schedule” means the following base case amortization schedule: 
  

							
	 Payment Date
	  	Principal
Payment	  	Remaining Balance
of the Notes
	 Closing Date
	  			  	$	105,000,000
	 November 5, 2008
	  	$	0	  	$	105,000,000
	 February 5, 2009
	  	$	0	  	$	105,000,000
	 May 5, 2009
	  	$	0	  	$	105,000,000
	 August 5, 2009
	  	$	0	  	$	105,000,000
	 November 5, 2009
	  	$	90,177	  	$	104,909,823
	 February 5, 2010
	  	$	1,383,710	  	$	103,526,112
	 May 5, 2010
	  	$	0	  	$	103,526,112
	 August 5, 2010
	  	$	4,791,070	  	$	98,735,043
	 November 5, 2010
	  	$	1,996,903	  	$	96,738,140
	 February 5, 2011
	  	$	2,866,410	  	$	93,871,730
	 May 5, 2011
	  	$	3,369,503	  	$	90,502,228
	 August 5, 2011
	  	$	3,794,470	  	$	86,707,757
	 November 5, 2011
	  	$	4,145,153	  	$	82,562,604

							
	 Payment Date
	  	Principal
Payment	  	Remaining Balance
of the Notes
	 February 5, 2012
	  	$	4,865,764	  	$	77,696,840
	 May 5, 2012
	  	$	6,245,147	  	$	71,451,693
	 August 5, 2012
	  	$	6,185,932	  	$	65,265,761
	 November 5, 2012
	  	$	6,138,878	  	$	59,126,884
	 February 5, 2013
	  	$	6,479,270	  	$	52,647,614
	 May 5, 2013
	  	$	6,400,272	  	$	46,247,342
	 August 5, 2013
	  	$	6,345,556	  	$	39,901,786
	 November 5, 2013
	  	$	6,257,561	  	$	33,644,225
	 February 5, 2014
	  	$	18,064,438	  	$	15,579,787
	 May 5, 2014
	  	$	6,450,421	  	$	9,129,366
	 August 5, 2014
	  	$	6,152,409	  	$	2,976,958
	 November 5, 2014
	  	$	2,976,958	  	$	0

 “Beneficial Holder” means any Person that holds a Beneficial Interest in any
Global Note through an Agent Member. 
 “Beneficial Interest” means any beneficial interest in any Global Note, whether held
directly by an Agent Member or held indirectly through an Agent Member’s beneficial interest in such Global Note. 
 “Bill of
Sale” has the meaning set forth in Section 1.1 of the Purchase and Sale Agreement. 
 “Business Day” means
(a) any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by Applicable Law to remain closed or a day on which the Corporate Trust Office is closed for business and
(b) for purposes of calculating amounts at the London interbank offered rate and related calculations relative to the making, continuing, prepaying or repaying of Indebtedness in respect thereof, any day that is a Business Day described in
clause (a) that is also a day on which dealings in U.S. dollars are carried on in the London interbank market. 
 “Calculation
Agent” means U.S. Bank National Association and any successor appointed pursuant to Section 6.11 of the Indenture. 
 “Calculation Date” means, for any Payment Date, the fifth Business Day immediately preceding such Payment Date. 
 “Calculation Date Information” means, with respect to any Calculation Date, the information provided by the Issuer (or any Servicer) under Section 3.1(c) of the Servicing Agreement with respect to such Calculation
Date. 
 “Calculation Report” has the meaning set forth in Section 3.5(b) of the Indenture. 
 “Capital Account” has the meaning set forth in Section 3.1(a) of the Indenture. 

 “Capital Securities” means, with respect to any Person, all shares, interests,
participations or other equivalents (however designated, whether voting or non-voting) of such Person’s capital, whether now outstanding or issued after the Closing Date, including common shares, ordinary shares, preferred shares, membership
interests or share capital in a limited liability company or other Person, limited or general partnership interests in a partnership, beneficial interests in trusts or any other equivalent of such ownership interest or any options, warrants and
other rights to acquire such shares or interests, including rights to allocations and distributions, dividends, redemption payments and liquidation payments. 
 “Change of Control” means, with respect to an Equityholder (or any parent entity of an Equityholder), any transaction of merger, consolidation or amalgamation with, or, in the case of clause
(a) below, a sale of all or substantially all of the assets of such Equityholder (or such parent entity) to, any other Person if such Equityholder (or such parent entity) (a) is not the continuing or surviving entity but the continuing or
surviving entity shall have assumed all of the obligations of such Equityholder under the Deal Documents to which such Equityholder is a party immediately prior to such transaction (including such Equityholder’s obligations under the Pledge and
Security Agreement in accordance with Sections 6.1 and 17.1 of the Pledge and Security Agreement) or (b) is the continuing or surviving entity. 
 “Class A Notes” means the Original Class A Notes and any Refinancing Notes issued to refinance the foregoing. 
 “Class B Issuance” has the meaning set forth in Section 2.16(a) of the Indenture. 
 “Class B Notes” means the Class B Notes, if any, issued in such form as shall be authorized by a Resolution or any indenture supplemental to the Indenture in respect thereof pursuant to Section 2.16 of the Indenture
and any Refinancing Notes issued to refinance the foregoing. 
 “Clearstream” means Clearstream Banking, a French
société anonyme. 
 “Closing Date” has the meaning set forth in Section 6.1 of the Purchase and Sale
Agreement, which shall be the date on which the Original Class A Notes are issued. 
 “Closing Day Accounts” has the
meaning set forth in Section 3.1(b) of the Indenture. 
 “Code” means the Internal Revenue Code of 1986 and the
regulations thereunder. 
 “Collateral” has the meaning set forth in the Granting Clause of the Indenture. 
 “Collection Account” has the meaning set forth in Section 3.1(a) of the Indenture. 
 “Collections” means, without duplication, (a) Royalties, (b) any net investment income on amounts on deposit in the Accounts
(other than the Capital Account and the Tax Distribution Escrow Account) and (c) any other amounts received by the Issuer (other than the proceeds of any Notes and capital contributions from the Equityholders), including any amounts payable to
the Issuer pursuant to Section 5.5(b), 5.5(c) or 5.5(d) of the Purchase and Sale Agreement or Article VII of the Purchase and Sale Agreement in respect of Royalties. 

 “Confidential Information” has the meaning set forth in Section 1.1 of the Purchase
and Sale Agreement. 
 “Confidentiality Agreement” means, with respect to Noteholders or Beneficial Holders at the Closing
Date with respect to the Original Class A Notes (or, with respect to any Class B Notes or any Refinancing Notes, the date of issuance of such Class B Notes or Refinancing Notes), a confidentiality agreement for the benefit of the Issuer
provided to the Registrar on or prior to the Closing Date (or such date of issuance), and otherwise means a resale confidentiality undertaking for the benefit of the Issuer substantially in the form of Exhibit B to the Indenture. 

“Confidential Parties” has the meaning set forth in Section 12.13 of the Indenture. 
 “Corporate Trust Office” means the office of the Trustee in the city at which at any particular time the Trustee’s duties under the
Deal Documents shall be principally administered and, on the Closing Date, shall be One Federal Street, 3rd Floor, Boston, Massachusetts 02110, Attention: Corporate Trust Services. 
 “Counterparty” means Allergan USA, Inc., a Delaware corporation and successor-in-interest to Esprit Pharma, Inc. 
 “Counterparty Instruction” has the meaning set forth in Section 1.1 of the Purchase and Sale Agreement. 
 “Deal Documents” means the Transaction Documents, the Purchase and Sale Agreement and the Bill of Sale. 
 “Default” means a condition, event or act that, with the giving of notice or the lapse of time or both, would constitute an Event of
Default. 
 “Definitive Notes” has the meaning set forth in Section 2.1(b) of the Indenture. 
 “Direction” has the meaning set forth in Section 1.3(c) of the Indenture. 
 “Distribution Report” has the meaning set forth in Section 2.13(a) of the Indenture. 
 “Dollar” or the sign “$” means lawful money of the United States. 
 “DTC” means The Depository Trust Company, its nominees and their respective successors. 
 “DTC List” has the meaning set forth in Section 2.5(d) of the Indenture. 
 “Eligibility Requirements” has the meaning set forth in Section 2.3(b) of the Indenture. 
 “Eligible Account” means a trust account maintained on the books and records of an Eligible Institution in the name of the Trustee.

 “Eligible Institution” means any bank organized under the laws of the U.S. or any state thereof or the District of
Columbia (or any domestic branch of a foreign bank), which at all times has either (a) a long-term unsecured debt rating of at least A2 by Moody’s and A by S&P or (b) a certificate of deposit rating of at least P-1 by Moody’s
and A-1 by S&P. 

 “Eligible Investments” means, in each case, book-entry securities, negotiable
instruments or securities represented by instruments in bearer or registered form that evidence: 
 (a) direct obligations of,
and obligations fully Guaranteed as to timely payment of principal and interest by, the U.S. or any agency or instrumentality thereof the obligations of which are backed by the full faith and credit of the U.S. (having original maturities of no more
than 365 days or such lesser time as is required for the distribution of funds); and 
 (b) demand deposits, time deposits or
certificates of deposit of the Operating Bank or of depositary institutions or trust companies organized under the laws of the U.S. or any state thereof or the District of Columbia (or any domestic branch of a foreign bank) with capital and surplus
of not less than $500 million (i) having original maturities of no more than 365 days or such lesser time as is required for the distribution of funds; provided, that, at the time of investment or contractual commitment to invest
therein, the short-term debt rating of such depositary institution or trust company shall be at least P-1 by Moody’s and A-1 by S&P or (ii) having maturities of more than 365 days and, at the time of the investment or contractual
commitment to invest therein, a rating of at least A2 by Moody’s and A by S&P; 
 provided, however, that no investment shall be made
in any obligations of any depositary institution or trust company that is identified in a written notice to the Trustee from the Issuer or any Servicer as having a contractual right to set off and apply any deposits held, or other indebtedness
owing, by the Issuer to or for the credit or the account of such depositary institution or trust company, unless such contractual right by its terms expressly excludes all Eligible Investments. 
 “Equityholder” means a holder of Capital Securities of the Issuer. The only Equityholder as of the Closing Date is Indevus. 

“ERISA” means the U.S. Employee Retirement Income Security Act of 1974, as amended. 
 “ERISA Affiliate” means any trade or business that is treated as a single employer with the Issuer or Indevus under Section 414 of
the Code. 
 “Escrow Account” has the meaning set forth in Section 3.1(a) of the Indenture. 
 “Escrow List” has the meaning set forth in Section 2.5(d) of the Indenture. 
 “Euroclear” means Euroclear Bank S.A./N.V., as operator of the Euroclear system. 
 “Event of Default” has the meaning set forth in Section 4.1 of the Indenture. 
 “Excess Holder Event” has the meaning set forth in Section 2.17 of the Indenture. 

 “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended. 

“Expenses” means any and all reasonable out-of-pocket fees, costs and expenses of the Issuer, including the fees, expenses and
indemnities of the Service Providers (provided, that, with respect to the Servicer, such expenses shall only be the Servicing Fee and reasonable out-of-pocket expenses), the fees and out-of-pocket expenses of counsel to the Trustee and the
Issuer incurred after the Closing Date in connection with the transactions contemplated by the Deal Documents, any Audit Expenses, the fees and expenses of any nationally recognized independent public accounting firm engaged as auditors of the
Issuer, any expenses incurred in connection with the exercise of audit rights at the direction of the Issuer or at the Direction of the Noteholders pursuant to Section 6.15(a) of the Indenture and any payments by the Issuer to third parties in
respect of obligations for which indemnification payments have been received from Indevus; provided, however, that, except as expressly provided in the Indenture, Expenses shall not include any Transaction Expenses, any amounts related
to the Issuer’s indemnification or contribution obligations set forth in the Issuer Organizational Documents, any amounts payable on the Notes pursuant to Section 3.7(a)(ii), 3.7(a)(iv), 3.7(a)(v) and 3.7(a)(vi) of the Indenture, any fees,
costs or expenses relating to the Class B Notes or any other amounts ranking pari passu with or junior to interest payable on the Class A Notes in the priority of payments set forth under Section 3.7 of the Indenture. 
 “FDA” has the meaning set forth in Section 1.1 of the Purchase and Sale Agreement. 
 “Field” has the meaning set forth in Section 1.33 of the License Agreement. 
 “Final Legal Maturity Date” means, with respect to (a) the Original Class A Notes, November 5, 2024, and (b) with
respect to any Class B Notes or Refinancing Notes, the date specified in the indenture supplemental to the Indenture providing for their issuance; provided, that the Final Legal Maturity Date with respect to any Class B Notes where the
proceeds thereof are not used to redeem or refinance all of the Outstanding Class A Notes shall be no earlier than November 5, 2024. 
 “Fixed Rate Notes” means (i) the Original Class A Notes and (ii) any Class B Notes or Refinancing Notes issued with a fixed rate of interest. 
 “Floating Rate Notes” means any Class B Notes or Refinancing Notes issued with a floating or variable rate of interest. 
 “GAAP” means generally accepted accounting principles in effect in the U.S. from time to time. 
 “Global Notes” means any 144A Global Note and Regulation S Global Note. 
 “Governmental Authority” means the government of the United States, any other nation or any political subdivision thereof, whether state
or local, and any agency, authority (including supranational authority), instrumentality, regulatory body, court, central bank or other Person exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of
or pertaining to government. 

 “Guarantee” means any obligation, contingent or otherwise, of any Person directly or
indirectly guaranteeing any Indebtedness or other obligation of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (a) to purchase or pay (or
advance or supply funds for the purchase or payment of) such Indebtedness or other obligation of such other Person or (b) entered into for purposes of assuring in any other manner the obligee of such Indebtedness or other obligation of the
payment thereof or to protect such obligee against loss in respect thereof (in whole or in part); provided, that the term “Guarantee” shall not include endorsements for collection or deposit in the ordinary course of
business. The term “Guarantee” when used as a verb has a corresponding meaning. 
 “H.15 (519)” means the
weekly statistical release designated as such, or any successor publication, published by the Board of Governors of the Federal Reserve System, and the most recent H.15 (519) is the H.15 (519) published prior to the close of business on
the fourth Business Day prior to the applicable Redemption Date. 
 “Holder Lists” has the meaning set forth in
Section 2.17 of the Indenture. 
 “Incur” has the meaning set forth in Section 5.2(d) of the Indenture.

 “Indebtedness” means, with respect to any Person at any date of determination (without duplication), (a) all
indebtedness of such Person for borrowed money or other similar monetary obligations, (b) all obligations of such Person evidenced by bonds, debentures, notes or other similar instruments, (c) all obligations of such Person as an account
party in respect of letters of credit or other similar instruments (including reimbursement obligations with respect thereto), (d) all the obligations of such Person to pay the deferred and unpaid purchase price of property or services, which
purchase price is due more than 90 days after the date of purchasing such property or service or taking delivery and title thereto or the completion of such services, and payment deferrals arranged primarily as a method of raising funds to acquire
such property or service, (e) all monetary obligations of such Person and its Subsidiaries under any leasing or similar arrangement that have been (or, in accordance with GAAP, should be) classified as capitalized leases, (f) all
Guarantees of such Person in respect of any of the foregoing, (g) all monetary obligations of such Person with respect to any interest rate hedge, cap, floor, swap, option or other interest rate hedge agreement, (h) all Indebtedness (as
defined in clauses (a) through (g) of this definition) of other Persons secured by a lien on any asset of such Person, whether or not such Indebtedness is assumed by such Person, and (i) all Indebtedness (as defined in clauses
(a) through (g) of this definition) of other Persons Guaranteed by such Person. Notwithstanding the foregoing, “Indebtedness” shall not include any surety or performance bonds required to be obtained in connection with the
performance or enforcement by the Issuer of any Deal Document or Principal Document or the Issuer’s defense of any action, suit or proceeding. 
 “Indemnified Amounts” has the meaning set forth in Section 4.1 of the Servicing Agreement. 
 “Indemnified Party” has the meaning set forth in Section 4.1 of the Servicing Agreement. 

 “Indemnitee” has the meaning set forth in Section 19.1 of the Pledge and Security
Agreement. 
 “Indemnitees” has the meaning set forth in Section 19.1 of the Pledge and Security Agreement. 

“Indenture” means that certain indenture, dated as of the Closing Date, by and between the Issuer and the Trustee. 

“Indenture Estate” has the meaning set forth in the Granting Clause of the Indenture. 
 “Independent Member” means a Member (i) who is not at the time of such Person’s admission to the Issuer, (ii) who is not
and (iii) who has not been at any time during the preceding five years: (a) a director, manager, officer or employee of the Issuer (other than in the capacity of Independent Member) or any Affiliate of the Issuer (other than in the
capacity of Independent Member); (b) a Person related to any officer, director, manager or employee of the Issuer (other than in the capacity of Independent Member) or any Affiliate of the Issuer (other than in the capacity of Independent
Member); (c) a holder (directly or indirectly) of any Voting Securities of the Issuer or any Affiliate of the Issuer (other than in the capacity of Independent Member); (d) a Person related to a holder (directly or indirectly) of any
Voting Securities of the Issuer or any Affiliate of the Issuer (other than in the capacity of Independent Member); (e) a purchaser, customer or any other Person who derives any of its revenues from interactions with the Issuer or any Affiliate
of the Issuer or a family member of such purchaser, customer or other Person; or (f) a trustee in bankruptcy or other insolvency proceeding for, or a reorganization of, Indevus or any Subsidiary or Affiliate of Indevus. 
 “Indevus” means Indevus Pharmaceuticals, Inc., a Delaware corporation. 
 “Indevus Intellectual Property” has the meaning set forth in Section 1.44 of the License Agreement. 
 “Information Memorandum” means the Confidential Information Memorandum of Indevus dated July 2008, as superseded by the Confidential
Information Memorandum of Indevus dated August 21, 2008. 
 “Initial Interest Reserve Amount” means $10,000,000.

 “Initial Notice” has the meaning set forth in Section 6.18(a) of the Indenture. 
 “Institutional Accredited Investor” means a Person that is an accredited investor as that term is defined in Rule 501(a)(1), (2),
(3) or (7) under the Securities Act. 
 “Interest Accrual Period” means the period beginning on (and including)
the Closing Date (or, with respect to any Class B Notes or any Refinancing Notes, the date of issuance of such Class B Notes or Refinancing Notes) and ending on (but excluding) the first Payment Date thereafter and each successive period beginning
on (and including) a Payment Date and ending on (but excluding) the next succeeding Payment Date; provided, however, that the final Interest Accrual Period shall end on but exclude the final Payment Date (or, if earlier, with respect
to any class of Notes repaid in full, the date such class of Notes is repaid in full). 

 “Interest Amount” means, with respect to the Outstanding Principal Balance of any class
of Notes, on any Payment Date, the amount of accrued and unpaid interest at the Stated Rate of Interest with respect to the Outstanding Principal Balance of such class of Notes on such Payment Date (including any Additional Interest, if any),
determined in accordance with the terms thereof (including interest accruing after the commencement of a proceeding in bankruptcy, insolvency or similar law, whether or not permitted as a claim under such law). 
 “Interest Reserve Account” has the meaning set forth in Section 3.1(a) of the Indenture. 
 “Involuntary Bankruptcy” means, without the consent or acquiescence of the Issuer, the entering of an order for relief or approving a
petition for relief or reorganization or any other petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or other similar relief under any present or future bankruptcy, insolvency or similar statute,
law or regulation, or the filing of any such petition against the Issuer, or, without the consent or acquiescence of the Issuer, the entering of an order appointing a trustee, custodian, receiver or liquidator of the Issuer or of all or any
substantial part of the property of the Issuer, in each case where such petition or order shall remain unstayed or shall not have been stayed or dismissed within 90 days from entry thereof. 
 “IRS” means the U.S. Internal Revenue Service. 
 “Issuer” means Ledgemont Royalty Sub LLC, a Delaware limited liability company, as issuer of the Notes pursuant to the Indenture. 
 “Issuer Organizational Documents” means the certificate of formation of the Issuer dated as of August 11, 2008 and the limited
liability company agreement of the Issuer dated as of the Closing Date. 
 “Issuer Pledged Collateral” has the meaning set
forth in Section 2.1 of the Pledge and Security Agreement. 
 “Issuer Pledged Equity” has the meaning set forth in
Section 2.1(a) of the Pledge and Security Agreement. 
 “Judgment Currency” has the meaning set forth in
Section 12.9(e) of the Indenture. 
 “License Agreement” has the meaning set forth in Section 1.1 of the Purchase
and Sale Agreement. 
 “Lien” means any security interest, mortgage, pledge, hypothecation, assignment, deposit arrangement,
encumbrance, lien (statutory or otherwise), charge against or interest in property or other priority or preferential arrangement of any kind or nature whatsoever, in each case to secure payment of a debt or performance of an obligation, including
any conditional sale, any sale with recourse against the Issuer or any agreement to give any security interest. 

 “Loss” means any loss, cost, charge, expense, interest, fee, payment, demand, liability,
claim, action, proceeding, penalty, fine, damages, judgment, order or other sanction, other than Taxes. 
 “Madaus” means
Madaus GmbH, a successor to Madaus AG, a company with limited liability organized under the laws of Germany and having its principal office at Colonia-Allee 15, 51067 Cologne, Germany, and any successor thereto. 
 “Madaus Agreements” has the meaning set forth in Section 1.58 of the License Agreement. 
 “Manager” means the manager of the Issuer. 
 “Marginal Tax Rate Percentage” means, with respect to any fiscal year of the Issuer, the highest combined federal, state and local marginal tax rate applicable to that fiscal year for an individual
resident of The City of New York (taking into account the deductibility of state and local tax for federal income tax purposes); provided, however, that, if such rate exceeds 50%, then the Marginal Tax Rate Percentage shall be 50%.

 “Material Adverse Development” means (i) a written order from the FDA or the U.S. Drug Enforcement Agency, as
applicable, that results in a Product being suspended or withdrawn from being sold commercially in the Territory for more than 90 days, (ii) any re-labeling or the addition of a “black box” to the label for a Product that limits the
use of such Product for indications for which such Product was approved by the FDA, in each case, as of the Closing Date, (iii) Counterparty publicly announces that it will cease to make a Product available for commercial sale in the Territory
(unless such Product has been sold, licensed or otherwise partnered with another pharmaceutical company that assumes Counterparty’s obligations under the License Agreement) or (iv) any Product Adverse Event occurs. 
 “Material Adverse Special Development” means (i) a written order from the FDA that results in suspension of the manufacture of a
Product for more than 135 days, the occurrence of which has or would reasonably be expected to have a material adverse effect on the net sales of such Product in the Territory and the Royalties, (ii) a written order from the FDA that results in
the reduction in manufacturing output of a Product by more than 50%, the occurrence of which has or would reasonably be expected to have a material adverse effect on the net sales of such Product in the Territory and the Royalties, or (iii) the
filing of an abbreviated new drug application with the FDA for a generic version of SANCTURA XRTM. 
 “Material Adverse
Effect” means a material adverse effect on (i) the ability of Indevus, the Issuer or any Servicer, as the case may be, to perform its obligations under any of the Deal Documents or the Principal Documents, in each case to which it is a
party, (ii) the validity or enforceability of any of the Deal Documents or the Principal Documents or the rights or remedies of the Issuer under any of such Deal Documents or Principal Documents, (iii) the value of the Purchased Assets or
(iv) the ability of the Trustee to realize the practical benefit of the Pledge and Security Agreement (including any failure to have a perfected Lien on any of the Issuer Pledged Collateral as required by the Indenture). 
 “Member” means a member of the Issuer. 

 “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto or,
if such corporation or its successor shall for any reason no longer perform the functions of a securities rating agency, “Moody’s” shall be deemed to refer to any other nationally recognized statistical rating organization
(within the meaning ascribed thereto by the Exchange Act) designated by the Issuer. 
 “New Arrangement” has the meaning set
forth in Section 5.6(a) of the Purchase and Sale Agreement. 
 “Nomination Period” has the meaning set forth in
Section 6.18(a) of the Indenture. 
 “Nominee” has the meaning set forth in Section 6.18(a) of the Indenture.

 “Non-U.S. Person” means a person who is not a U.S. person within the meaning of Regulation S. 
 “Noteholder” means any Person in whose name a Note is registered from time to time in the Register for such Note. 
 “Note Purchase Agreement” means that certain note purchase agreement dated the Closing Date among the Issuer, Indevus and the Purchaser
party thereto. 
 “Note Purchase Agreements” means, collectively, each Note Purchase Agreement and the Other Agreements.

 “Note Purchase Price” has the meaning set forth in Section 3.1 of the Note Purchase Agreement. 
 “Note Purchasers” has the meaning set forth in Section 1.1 of the Note Purchase Agreement. 
 “Notes” means the Original Class A Notes, any Class B Notes and any Refinancing Notes. 
 “Notices” means notices, demands, certificates, requests, directions, instructions and communications. 
 “Observer” has the meaning set forth in Section 6.18(a) of the Indenture. 
 “Officer’s Certificate” means a certificate signed by, with respect to the Issuer, a Responsible Officer of the Issuer and, with
respect to any other Person, any officer, director, manager, partner, trustee or equivalent representative of such Person. 
 “Operating Bank” means U.S. Bank National Association or any other Eligible Institution at which the Accounts are held; provided, that (a) upon the resignation or removal and the replacement of the Trustee
pursuant to the terms of the Indenture, the successor trustee appointed thereunder shall be the Operating Bank, and (b) if at any time the Operating Bank ceases to be an Eligible Institution, a successor shall be appointed by the Issuer (or any
Servicer) on behalf of the Trustee and all Accounts shall thereafter be transferred to and be maintained at such successor in the name of the Trustee and such successor shall thereafter be the “Operating Bank”. 

 “Opinion of Counsel” means a written opinion signed by legal counsel, who may be an
employee of or counsel to the Issuer or Indevus, that meets the requirements of Section 1.2 of the Indenture. 
 “Optional
Redemption” has the meaning set forth in Section 3.9(b) of the Indenture. 
 “Original Class A Notes” means the Ledgemont PhaRMASM Secured 16% Notes due 2024 of the Issuer in the initial
Outstanding Principal Balance of $105,000,000, substantially in the form of Exhibit A to the Indenture. 
 “Other
Agreements” has the meaning set forth in Section 3.1 of the Note Purchase Agreement. 
 “Other Note
Purchasers” has the meaning set forth in Section 3.1 of the Note Purchase Agreement. 
 “Other Prices” has the
meaning set forth in Section 3.1 of the Note Purchase Agreement. 
 “Outstanding” means (a) with respect to the
Notes of any class at any time, all Notes of such class theretofore authenticated and delivered by the Trustee except (i) any such Notes cancelled by, or delivered for cancellation to, the Trustee, (ii) any such Notes, or portions thereof,
for the payment of principal of and accrued and unpaid interest on which moneys have been distributed to Noteholders by the Trustee and any such Notes, or portions thereof, for the payment or redemption of which moneys in the necessary amount have
been deposited in the Redemption Account for such Notes; provided, that, if such Notes are to be redeemed prior to the maturity thereof in accordance with the requirements of Section 3.9 of the Indenture, written notice of such
Redemption shall have been given and not rescinded as provided in Section 3.10 of the Indenture, or provision satisfactory to the Trustee shall have been made for giving such written notice, and, if Redemption does not occur, then this clause
(ii) ceases to apply as of the Payment Date that was supposed to be the date of Redemption, and (iii) any such Notes in exchange or substitution for which other Notes, as the case may be, have been authenticated and delivered, or which
have been paid pursuant to the terms of the Indenture (unless proof satisfactory to the Trustee is presented that any of such Notes is held by a Person in whose hands such Note is a legal, valid and binding obligation of the Issuer), and
(b) when used with respect to any other evidence of Indebtedness, at any time, any principal amount thereof then unpaid and outstanding (whether or not due or payable). 
 “Outstanding Principal Balance” means, with respect to any Note or other evidence of Indebtedness Outstanding, the total principal
amount of such Note or other evidence of Indebtedness unpaid and Outstanding at any time, as determined in the case of the Notes in the Calculation Report to be provided to the Issuer (or any Servicer) and the Trustee by the Calculation Agent
pursuant to Section 3.5 of the Indenture. 
 “Paying Agent” has the meaning set forth in Section 2.3(a) of the
Indenture. 

 “Payment Date” means each February 5, May 5, August 5 and
November 5, commencing on November 5, 2008 and including the Final Legal Maturity Date; provided, that, if any such date would otherwise fall on a day that is not a Business Day, the Payment Date falling on such date shall be the
first following day that is a Business Day; provided, further, that, if any such following Business Day would occur in the succeeding month, then the Payment Date shall be the first Business Day preceding such date. 
 “Permanent Regulation S Global Note” has the meaning set forth in Section 2.1(b) of the Indenture. 
 “Permitted Holder” means (a) Indevus, (b) the Issuer and (c) any Person that has executed a Confidentiality Agreement and
delivered such Confidentiality Agreement to the Registrar in accordance with the terms of the Indenture. 
 “Permitted Lien”
means (a) any lien for Taxes, assessments and governmental charges or levies not yet due and payable or which are being diligently contested in good faith by appropriate proceedings and for which adequate reserves in accordance with GAAP have
been set aside on the books of the relevant Person, (b) any Lien created in favor of the Trustee and (c) any other Lien expressly permitted under the Deal Documents. 
 “Person” means any natural person, firm, corporation, limited liability company, partnership, joint venture, association, joint-stock
company, trust, unincorporated organization, Governmental Authority or any other legal entity, including public bodies, whether acting in an individual, fiduciary or other capacity. 
 “Placement Agent” means Morgan Stanley & Co. Incorporated. 
 “Plan” means any employee benefit plan (within the meaning of Section 3(3) of ERISA) or other plan or arrangement, whether or not
subject to ERISA, that is (or within the preceding six years has been) maintained, or to which contributions are (or within the preceding six years have been) required to be made by the Issuer, Indevus or any ERISA Affiliate or with respect to which
the Issuer, Indevus or any ERISA Affiliate may have any liability. 
 “Plan Assets” has the meaning given to such term by
Section 3(42) of ERISA and regulations issued by the U.S. Department of Labor. 
 “Pledge and Security Agreement” means
that certain pledge and security agreement dated as of the Closing Date made by the Equityholders to the Trustee. 
 “Premium” means, with respect to any Note on any Redemption Date, any Redemption Premium, if applicable, or, with respect to any Redemption Date, the portion of the Redemption Price of the Notes being redeemed in excess of
the Outstanding Principal Balance of the Notes being redeemed. 
 “Price” has the meaning set forth in Section 3.1 of
the Note Purchase Agreement. 
 “Principal Documents” means the License Agreement, the Madaus Agreements and the Supernus
Agreement. 

 “Private Placement Legend” has the meaning set forth in Section 2.2 of the
Indenture. 
 “Product Adverse Event” has the meaning set forth in Section 1.83 of the License Agreement. 

“Products” has the meaning set forth in Section 1.1 of the Purchase and Sale Agreement. 
 “Purchase and Sale Agreement” means that certain purchase and sale agreement dated as of the Closing Date between Indevus and the
Issuer. 
 “Purchased Assets” has the meaning set forth in Section 1.1 of the Purchase and Sale Agreement. 

“Purchase Price” has the meaning set forth in Section 2.3 of the Purchase and Sale Agreement. 
 “Purchaser” has the meaning set forth in Section 1.1 of the Note Purchase Agreement. 
 “QIB” means a qualified institutional buyer within the meaning of Rule 144A. 
 “Receiver” means any Person or Persons appointed as (and any additional Person or Persons appointed or substituted as) administrative
receiver, receiver, manager or receiver and manager. 
 “Record Date” means, with respect to each Payment Date, the close of
business on the fifteenth day preceding such Payment Date and, with respect to the date on which any Direction is to be given by the Noteholders, the close of business on the last Business Day prior to the solicitation of such Direction. 

“Redemption” means any Optional Redemption and any other redemption of Notes described in Section 3.9(c) of the Indenture.

 “Redemption Account” has the meaning set forth in Section 3.1(a) of the Indenture. 
 “Redemption Date” means the date, which shall in each case be a Payment Date, on which Notes are redeemed pursuant to a Redemption.

 “Redemption Premium” means, in the case of any Class B Notes or Refinancing Notes, the amount, if any, specified in the
Resolution or indenture supplemental to the Indenture to be paid in the event of a Redemption of such Class B Notes or Refinancing Notes separately from the Redemption Price. 
 “Redemption Price” means (a) in respect of an Optional Redemption of the Original Class A Notes (i) on any Payment Date
on or prior to August 5, 2010, the greater of (x) the Outstanding Principal Balance of the Original Class A Notes being redeemed and (y) the present value, discounted at the Applicable Treasury Rate plus 1.0%, of such principal
payment amounts and interest at the Stated Rate of Interest on the Outstanding Principal Balance of the Original Class A Notes (assuming the principal balances are achieved at the times and in the amounts set 

 
forth in the Base Case Amortization Schedule) plus, in each case, the accrued and unpaid interest to the Redemption Date on the Original Class A Notes
that are being redeemed or (ii) on any Payment Date after August 5, 2010, an amount equal to the product of (x) the applicable Class A Redemption Percentage as set forth below and (y) the Outstanding Principal Balance of the
Original Class A Notes that are being redeemed on such Payment Date, plus the accrued and unpaid interest to the Redemption Date on the Original Class A Notes that are being redeemed: 
  

				
	 Payment Dates Between Indicated Payment Dates
	  	Class A Redemption Percentage	 
	 From November 5, 2010 to and including
 August 5, 2011
	  	108.00	%
	 From November 5, 2011 to and including
 August 5, 2012
	  	104.00	%
	 From November 5, 2012 and thereafter
	  	100.00	%

 and (b) in respect of any Class B Notes or Refinancing Notes, the redemption price, if any, plus the accrued
and unpaid interest to the Redemption Date on the Class B Notes or Refinancing Notes, as the case may be, established by or pursuant to a Resolution or in any indenture supplemental to the Indenture providing for the issuance of such Notes or
designated as such in the form of such Notes (any such Redemption Price in respect of any Class B Notes or Refinancing Notes may include a Redemption Premium, and such Resolution or indenture supplemental to the Indenture may specify a separate
Redemption Premium). 
 “Reference Date” means, with respect to each Interest Accrual Period, the day that is two Business
Days prior to the Payment Date on which such Interest Accrual Period commences; provided, however, that the Reference Date with respect to the initial Interest Accrual Period means the date that is two Business Days prior to the
Closing Date (or, with respect to any Class B Notes or any Refinancing Notes, the date that is two Business Days prior to the date of issuance of such Class B Notes or Refinancing Notes). 
 “Refinancing” has the meaning set forth in Section 2.15(a) of the Indenture. 
 “Refinancing Date” means the date, which shall in each case be a Payment Date, on which the Original Class A Notes, the Refinancing
Notes, if any, or the Notes of any other class are redeemed in whole, in each case with the proceeds of Refinancing Notes as provided in Section 2.15 of the Indenture. 
 “Refinancing Expenses” means all Transaction Expenses incurred in connection with an offering and issuance of Refinancing Notes.

 “Refinancing Notes” means any class of Notes issued by the Issuer under the Indenture at any time and from time to time
after the Closing Date pursuant to Section 2.15 of the Indenture, the proceeds of which are used to repay all of the Outstanding Principal Balance of a class of Notes. 
 “Register” has the meaning set forth in Section 2.3(a) of the Indenture. 
 “Registrar” has the meaning set forth in Section 2.3(a) of the Indenture. 

 “Regulation S” means Regulation S under the Securities Act. 
 “Regulation S Global Note Exchange Date” means the date of exchange of any Temporary Regulation S Global Note for any Permanent
Regulation S Global Note, which date shall be 40 days after the Closing Date (or, with respect to any Class B Notes or any Refinancing Notes, 40 days after the date of issuance of such Class B Notes or Refinancing Notes). 
 “Regulation S Global Notes” has the meaning set forth in Section 2.1(b) of the Indenture. 
 “Relevant Calculation Date” has the meaning set forth in Section 3.5(a) of the Indenture. 
 “Relevant Information” means any information provided to the Trustee, the Calculation Agent or the Paying Agent in writing by any
Service Provider retained from time to time by the Issuer pursuant to the Deal Documents. 
 “Remaining Weighted Average
Life” means, with respect to the Original Class A Notes on any Redemption Date, (a) the sum of the products of (i) each principal payment amount on the Original Class A Notes payable on each subsequent Payment Date
(assuming the principal balances are achieved at the times and in the amounts set forth in the Base Case Amortization Schedule) multiplied by (ii) the number of days remaining from the applicable Redemption Date until such subsequent Payment
Date divided by (b) the Outstanding Principal Balance of the Original Class A Notes on such Redemption Date. 
 “Resale
Restriction Termination Date” has the meaning set forth in the Private Placement Legend. 
 “Resolution” means a
copy of a resolution certified by a Responsible Officer of the Issuer as having been duly adopted by the Issuer and being in full force and effect on the date of such certification. 
 “Responsible Officer” means (a) with respect to the Trustee, any officer within the Corporate Trust Office, including any
principal, vice president, managing director, director, manager, associate or other officer of the Trustee customarily performing functions similar to those performed by any of the above-designated officers and also, with respect to a particular
matter, any other officer to whom such matter is referred because of such officer’s knowledge and familiarity with the particular subject, (b) with respect to the Issuer, any officer of the Manager or person designated by the board of
directors of the Manager as a Responsible Officer for purposes of the Deal Documents, and (c) with respect to Indevus, any officer of Indevus. 
 “Royalties” has the meaning set forth in Section 1.1 of the Purchase and Sale Agreement. 
 “Rule
144A” means Rule 144A under the Securities Act. 
 “S&P” means Standard & Poor’s Ratings
Services, a division of The McGraw-Hill Companies, Inc., and any successor thereto or, if such division or its successor shall for any reason no longer perform the functions of a securities rating agency, “S&P” shall be deemed
to refer to any other nationally recognized statistical rating organization (within the meaning ascribed thereto by the Exchange Act) designated by the Issuer. 

 “SEC” means the U.S. Securities and Exchange Commission. 
 “Secured Obligations” has the meaning set forth in the Granting Clause of the Indenture. 
 “Securities Act” means the U.S. Securities Act of 1933, as amended. 
 “Security Interest” means the security interest granted or expressed to be granted in the Collateral pursuant to the Granting Clause of
the Indenture and in the Issuer Pledged Equity pursuant to the Pledge and Security Agreement. 
 “Seller Indemnified Party”
has the meaning set forth in Section 7.2 of the Purchase and Sale Agreement. 
 “Senior Claim” has the meaning set
forth in Section 10.1(a) of the Indenture. 
 “Senior Class of Notes” means (a) so long as any Class A Notes
are Outstanding, the Class A Notes, or (b) if no Class A Notes are Outstanding, the Class B Notes. 
 “Senior
Trustee” means the Trustee, acting in its capacity as the trustee of the Senior Class of Notes. 
 “Service
Providers” means any Servicer, the Trustee, the Independent Member, the Calculation Agent, the Paying Agent, the Registrar, the Operating Bank and any Person that becomes a Servicer, the Trustee, the Independent Member, the Calculation
Agent, the Paying Agent, the Registrar or the Operating Bank in accordance with the terms of the applicable agreement and, subject to the written approval of the Noteholders of a majority of the Outstanding Principal Balance of the Senior Class of
Notes, any other Person designated as a Service Provider by the Issuer. 
 “Servicer” means Indevus, acting in its capacity
as servicer pursuant to the Servicing Agreement (or any other Person appointed by the Issuer to succeed Indevus as such or any successor thereto). 
 “Servicer Termination Event” means any one of the following events: 
 (i) the Servicer shall fail
to pay any amount when due under the Servicing Agreement and such failure shall continue unremedied for five Business Days; 
 (ii) the Servicer shall fail to deliver the Distribution Report and the other required accompanying materials with respect to any Payment Date in accordance with the provisions of the Servicing Agreement within five Business Days of the
date such Distribution Report and the other required accompanying materials are required to be delivered under the Servicing Agreement; 
 (iii) the Servicer shall fail to carry out its obligations under Section 3.1(c)(ii) of the Servicing Agreement that shall have or reasonably be expected to have a material adverse effect on the Noteholders;

 (iv) the Servicer shall fail to carry out its obligations under Section 3.1(c)(v),
Section 3.1(c)(viii) or Section 3.1(c)(ix) of the Servicing Agreement; 
 (v) the Servicer shall fail to observe or
perform in any material respect any of the covenants or agreements on the part of the Servicer contained in the Servicing Agreement (other than for which provision is made in clauses (i) through (v) above) and such failure shall continue
unremedied for a period of 30 days after the date on which (A) the Servicer shall have obtained knowledge of such failure or (B) written notice of such failure requiring the same to be remedied shall have been given to the Servicer by the
Trustee, in each case that continues to materially adversely affect the Noteholders for such period; 
 (vi) a court having
jurisdiction in the premises enters a decree or order for (i) relief in respect of the Servicer under any Applicable Law relating to bankruptcy, insolvency, receivership, winding-up, liquidation, reorganization, examination, relief of debtors
or other similar law in effect now or after the Closing Date, (ii) appointment of a receiver, liquidator, examiner, assignee, custodian, trustee, sequestrator or similar official of the Servicer or (iii) the winding-up or liquidation of
the affairs of the Servicer and, in each case, such decree or order shall remain unstayed or such writ or other process shall not have been stayed or dismissed within 90 days from entry thereof; 
 (vii) the Servicer (i) commences a voluntary case under any Applicable Law relating to bankruptcy, insolvency, receivership,
winding-up, liquidation, reorganization, examination, relief of debtors or other similar law in effect now or after the Closing Date, or consents to the entry of an order for relief in any involuntary case under any such law, (ii) consents to
the appointment of or taking possession by a receiver, liquidator, examiner, assignee, custodian, trustee, sequestrator or similar official of the Servicer or for all or substantially all of the property and assets of the Servicer or
(iii) effects any general assignment for the benefit of creditors; 
 (viii) the Servicer’s business activities are
terminated by any Governmental Authority; 
 (ix) a material adverse change occurs in the financial condition or operations of
the Servicer that is reasonably likely to have a Material Adverse Effect; 
 (x) an Event of Default shall have occurred,
other than an Event of Default solely caused by the Trustee, the Calculation Agent, the Paying Agent or the Registrar failing to perform any of its respective obligations under the Indenture or any other Transaction Document; or 
 (xi) so long as Indevus is the Servicer, Indevus sells, transfers, conveys, assigns, contributes or grants a majority of the Capital
Securities of the Issuer to another Person or Persons. 
 “Servicing Agreement” means the servicing agreement dated as of
the Closing Date between the Issuer and Indevus. 

 “Servicing Fee” has the meaning set forth in Section 2.1 of the Servicing
Agreement. 
 “Shortfall” has the meaning set forth in Section 3.5(a)(ix) of the Indenture. 
 “Solicitation Notice” has the meaning set forth in Section 6.18(c) of the Indenture. 
 “Solicitation Period” has the meaning set forth in Section 6.18(c) of the Indenture. 
 “Stated Rate of Interest” means, with respect to any class of the Notes for any Interest Accrual Period, the interest rate set forth in
such class of Notes for such Interest Accrual Period. 
 “Subordinated Claim” has the meaning set forth in
Section 10.1(a) of the Indenture. 
 “Subsidiary” means, with respect to any Person, any other Person of which more
than 50% of the outstanding Voting Securities of such other Person (irrespective of whether at the time Capital Securities of any other class or classes of such other Person shall or might have voting power upon the occurrence of any contingency) is
at the time directly or indirectly owned or controlled by such Person, by such Person and one or more other Subsidiaries of such Person or by one or more other Subsidiaries of such Person. 
 “Supernus” has the meaning set forth in Section 1.104 of the License Agreement. 
 “Supernus Agreement” has the meaning set forth in Section 1.105 of the License Agreement. 
 “Tax Distribution” means, in respect of a Payment Date, a tax distribution to the Equityholders in an amount equal to the Marginal Tax
Rate Percentage of the amount, if any, by which (i) the amount in the Collection Account on such Payment Date after (A) the applicable transfers provided for in Section 3.6 of the Indenture have been made and (B) giving effect to
the amounts contemplated by Section 3.7(a)(i) and Section 3.7(a)(ii) of the Indenture exceeds (ii) $1,850,000. 
 “Tax
Distribution Escrow Account” has the meaning set forth in Section 3.1(a) of the Indenture. 
 “Taxes” means
(i) any and all taxes, fees, levies, duties, tariffs, imposts and other charges of any kind (together with any and all interest, penalties, loss, damage, liability, expense, additions to tax and additional amounts or costs incurred or imposed
with respect thereto) now or hereafter imposed, levied, collected, withheld or otherwise assessed by the U.S. or by any state, local, foreign or other Governmental Authority (or any subdivision or agency thereof) or other taxing authority, including
taxes or other charges on or with respect to income, franchise, windfall or other profits, gross receipts, property, sales, use, capital stock, payroll, employment, social security, workers’ compensation, unemployment compensation or net worth
and similar charges and taxes or other charges in the nature of excise, deduction, withholding, ad valorem, stamp, transfer, value added, taxes on goods and services, escheat, gains taxes, license, registration and documentation fees, customs
duties, tariffs and similar charges, (ii) liability for such a tax that is imposed by reason of U.S. Treasury Regulation Section 1.1502-6 or similar provision of law and (iii) liability for the payment of any amounts as a result of
any express or implied obligation to indemnify any other Person with respect to the payment of any amounts described in clause (i) or clause (ii). 

 “Temporary Regulation S Global Note” has the meaning set forth in Section 2.1(b) of
the Indenture. 
 “Territory” has the meaning set forth in Section 1.111 of the License Agreement. 
 “Transaction Documents” means the Indenture, the Notes, the Servicing Agreement, the Pledge and Security Agreement and the Note Purchase
Agreements, and each other agreement pursuant to which the Trustee (or its agent) is granted a Lien to secure the obligations under the Indenture or the Notes. 
 “Transaction Expenses” means the out-of-pocket expenses payable by the Issuer in connection with (a) the issuance of the Original Class A Notes, including placement fees, any initial fees
payable to Service Providers and the fees and expenses of Pillsbury Winthrop Shaw Pittman LLP, counsel to the Noteholders in connection with the offering and issuance of the Original Class A Notes, as set forth in the Note Purchase Agreements
and (b) the offering and issuance of any Class B Notes or any Refinancing Notes, to the extent specified in the Resolution authorizing such offering and issuance. 
 “Trustee” means U.S. Bank National Association, a national banking association, as initial trustee of the Notes under the Indenture, and any successor appointed in accordance with the terms of the
Indenture; provided, that, for purposes of Section 3.1(b) of the Indenture, “Trustee” means U.S. Bank National Association, a national banking association, as the Operating Bank and/or initial trustee of the Notes under
the Indenture, as the context may require. 
 “Trustee Closing Account” means the account of the Issuer maintained with the
Trustee at U.S. Bank, ABA No. 091000022, Account No. 173103321092, Ref. Ledgemont Royalty 128354, Attention: Josh Tripi. 
 “Trust Indenture Act” means the U.S. Trust Indenture Act of 1939, as amended. 
 “UCC” means the
Uniform Commercial Code as in effect from time to time in the State of New York; provided, that, if, with respect to any financing statement or by reason of any provisions of law, the perfection or the effect of perfection or non-perfection
of the Liens granted to the Trustee pursuant to the applicable Transaction Document is governed by the Uniform Commercial Code as in effect in a jurisdiction of the United States other than the State of New York, then “UCC” means
the Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions of each Transaction Document and any financing statement relating to such perfection or effect of perfection or non-perfection.

 “U.S.” or “United States” means the United States of America, its 50 states, each territory thereof and
the District of Columbia. 
 “U.S. Person” means a U.S. person within the meaning of Regulation S. 

 “U.S. Treasury” means the U.S. Department of the Treasury. 
 “Voluntary Bankruptcy” means (i) an admission in writing by the Issuer of its inability to pay its debts generally or a general
assignment by the Issuer for the benefit of creditors, (ii) the filing of any petition or answer by the Issuer seeking to adjudicate itself as bankrupt or insolvent, or seeking for itself any liquidation, winding-up, reorganization,
arrangement, adjustment, protection, relief or composition of the Issuer or its debts under any law relating to bankruptcy, insolvency, receivership, winding-up, liquidation, reorganization, examination, relief of debtors or other similar law now or
hereafter in effect, or seeking, consenting to or acquiescing in the entry of an order for relief in any case under any such law, or the appointment of or taking possession by a receiver, trustee, custodian, liquidator, examiner, assignee,
sequestrator or other similar official for the Issuer or for any substantial part of its property, or (iii) corporate or other entity action taken by the Issuer to authorize any of the actions set forth above. 
 “Voting Securities” means, with respect to any Person, Capital Securities of any class or kind ordinarily having the power to vote for
the election of directors, managers or other voting members of the governing body of such Person. 

 SCHEDULE 1 
 Confidentiality Agreement Referenced In Section 4.7: 
 Date:
                    , 2008 
 Parties: Indevus and
                                         
                                         
   
 Number (See Top Right of First Page of Confidentiality Agreement):
                     
  

					
	 Purchaser
	 	 Principal
 Amount of
 Original
 Class A Notes
	 	 Notice Information

		 		 	

  

 1-1

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