Document:

EMPLOYMENT AGREEMENT

 

This Employment Agreement
(this “Agreement”), dated January 2, 2012, by and between Adeona Pharmaceuticals, Inc., a corporation organized under
the laws of the State of Nevada (the “Corporation”), and Steve H. Kanzer, CPA, JD, an individual (the “Employee”).

 

		1.	EMPLOYMENT; DUTIES

 

(a)   The
Corporation hereby engages and employs Employee as Interim Director, Biologics Division of the Corporation, and Employee hereby
accepts such engagement and employment as Interim Director, Biologics Division of the Corporation, for the term of this Agreement
as long as Employee desires to serve. It is expected that the employment duties of Employee will include reporting directly to
the Board of Directors of the Corporation and/or the Chief Executive Officer of the Corporation for the performance of directing,
supervising and having responsibility for all aspects of the operations and general affairs of the Biologics Division, including
authority for budgeting, hiring of personnel and execution of agreements necessary to facilitate the operations of the Biologics
Division in the Northern Virginia area.

 

(b)  Employee
shall devote substantially all of his professional time under this Agreement at the Corporation’s executive offices and in
its offices at Northern Viriginia or clinical laboratory in Chicago or traveling on corporate business, with travel to and from
Employee’s residence to the Corporation’s Michigan, Virginia or Chicago locations to be at the Corporation’s
expense.

 

(c) The Corporation
shall provide a computer, cellular phone and office for Employee.

 

		2.	TERM

 

The term (the “Term”)
of Employee’s employment shall be six (6) months from the execution date of this Agreement unless terminated earlier under
Section 8 of this Agreement. The parties may extend the Term for an additional three (3) year period upon mutual consent of Employee
and the Board of Directors of the Corporation, upon terms to be agreed upon by the parties.

 

		3.	COMPENSATION

 

(a)   As
compensation for the performance of his duties on behalf of the Corporation, Employee shall receive the following:

 

(i)Base
Salary. Employee shall receive a base salary of Ninety Thousand Dollars ($90,000) for the Term (the “Base Salary”),
payable semi-monthly. In addition, the Corporation shall provide Employee and his family with healthcare coverage pursuant to
the Corporation’s healthcare insurance policy plan.

 

(ii)    Bonus.
On the first of each calendar year while employed, Employee may be entitled to receive a discretionary performance bonus based
upon the sales and profitability of the Corporation payable in cash or equity in the sole and absolute discretion of both the
Compensation Committee and the Board of Directors of the Corporation.

   

(iii)    Discretionary
Transactional Bonus. In connection with a significant transaction consummated by the Corporation or its subsidiaries in which
Employee is directly or indirectly involved in, Employee may be entitled to receive a discretionary transactional bonus payable
in cash or equity in the sole and absolute discretion of both the Compensation Committee and the Board of Directors of the Corporation.

    	 

    	 	

    
 

 

(b)The
Corporation shall reimburse Employee for all normal, usual and necessary expenses incurred by Employee, including all travel,
lodging and entertainment, against receipt by the Corporation, as the case may be, of appropriate vouchers or other proof of Employee’s
expenditures and otherwise in accordance with such Expense Reimbursement Policy as may from time to time be adopted by the Corporation.

 

(c)      The
Corporation shall reimburse Employee for expenses incurred in connection with his relocation to Virginia, including a full service
mover, transportation expenses and any other related expenses. In addition, during the Term the Corporation shall reimburse Employee
on a monthly basis for the reasonable expenses he incurs for rent for his personal residence in the Virginia area.

 

(d)
The Corporation shall provide Employee with full advance indemnification to the extent permitted by Nevada law, including
indemnification for activities at all subsidiaries.

 

(e)Employee
shall be entitled to two (2) weeks paid vacation and sick leave in accordance with the Corporation’s policies. The Corporation
shall provide Employee and his family with healthcare coverage pursuant to the Corporation’s healthcare insurance policy
plan.

 

		4.	REPRESENTATIONS AND WARRANTIES BY EMPLOYEE

 

Employee hereby represents
and warrants to the Corporation as follows:

 

(a)
Neither the execution and delivery of this Agreement nor the performance by Employee of his duties and other obligations hereunder
violates or will violate any statute, law, determination or award, or conflict with or constitute a default under (whether immediately,
upon the giving of notice or lapse of time or both) any prior employment agreement, contract, or other instrument to which Employee
is a party or by which he is bound.

 

(b)Employee
has the full right, power and legal capacity to enter and deliver this Agreement and to perform his duties and other obligations
hereunder. This Agreement constitutes the legal, valid and binding obligation of Employee enforceable against him in accordance
with its terms. No approvals or consents of any persons or entities are required for Employee to execute and deliver this Agreement
or perform his duties and other obligations hereunder.

 

		6.	CONFIDENTIAL INFORMATION

 

(a)    Employee
agrees that during the course of his employment or at any time thereafter, he will not disclose or make accessible to any other
person, the Corporation’s products, services and technology, both current and under development, promotion and marketing
programs, lists, trade secrets and other confidential and proprietary business information of the Corporation or any affiliates
or any of their clients. Employee agrees: (i) not to use any such information for himself or others, and (ii) not to take any
such material or reproductions thereof from the Corporation’s facilities at any time during his employment by the Corporation.
Employee agrees immediately to return all such material and reproductions thereof in his possession to the Corporation upon request
and in any event upon termination of employment.

 

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(b)Except
with prior written authorization by the Corporation, Employee agrees not to disclose or publish any of the confidential, technical
or business information or material of the Corporation, its clients or any other party to whom the Corporation owes an obligation
of confidence, at any time during or after his employment with the Corporation.

 

(c)In
the event that Employee breaches any provisions of this Section 6 or there is a threatened breach, then, in addition to any other
rights which the Corporation may have, the Corporation shall be entitled, without the posting of a bond or other security, to
injunctive relief to enforce the restrictions contained herein. In the event that an actual proceeding is brought in equity to
enforce the provisions of this Section 6, Employee shall not urge as a defense that there is an adequate remedy at law, nor shall
the Corporation be prevented from seeking any other remedies which may be available. In addition, Employee agrees that in event
that he breaches the covenants in this Section 6, in addition to any other rights that the Corporation may have, Employee shall
be required to pay to the Corporation any amounts he receives in connection with such breach.

 

(d)     Employee
recognizes that in the course of his duties hereunder, he may receive from the Corporation or others information which may be
considered “material, non-public information” concerning a public company that is subject to the reporting requirements
of the United States Securities and Exchange Act of 1934, as amended. Employee agrees not to:

 

(i)  Buy
or sell any security, option, bond or warrant while in possession of relevant material, non-public information received from the
Corporation or others in connection herewith, and

 

(ii)    Provide
the Corporation with information with respect to any public company that may be considered material, non-public information, unless
first specifically agreed to in writing by the Corporation.

 

		7.	INVENTIONS DISCOVERED BY EMPLOYEE

 

Employee shall promptly
disclose to the Corporation any invention, improvement, discovery, process, formula, or method or other intellectual property,
whether or not patentable or copyrightable (collectively, "Inventions"), conceived or first reduced to practice by Employee,
either alone or jointly with others, while performing services hereunder (or, if based on any Confidential Information, within
one (1) year after the Term: (a) which pertain to any line of business activity of the Corporation, whether then conducted or then
being actively planned by the Corporation, with which Employee was or is involved, (b) which is developed using time, material
or facilities of the Corporation, whether or not during working hours or on the Corporation premises, or (c) which directly relates
to any of Employee's work during the Term, whether or not during normal working hours. Employee hereby assigns to the Corporation
all of Employee's right, title and interest in and to any such Inventions. During and after the Term, Employee shall execute any
documents necessary to perfect the assignment of such Inventions to the Corporation and to enable the Corporation to apply for,
obtain and enforce patents, trademarks and copyrights in any and all countries on such Inventions, including, without limitation,
the execution of any instruments and the giving of evidence and testimony, without further compensation beyond Employee’s
agreed compensation during the course of Employee's employment. All such acts shall be done without cost or expense to Employee.
Employee shall be compensated for the giving of evidence or testimony after the term of Employee’s employment at the rate
of Two Thousand Dollars ($2,000) per day. Without limiting the foregoing, Employee further acknowledges that all original works
of authorship by Employee, whether created alone or jointly with others, related to Employee's employment with the Corporation
and which are protectable by copyright, are "works made for hire" within the meaning of the United States Copyright Act,
17 U.S .C. (S) 101, as amended, and the copyright of which shall be owned solely, completely and exclusively by the Corporation.
If any Invention is considered to be work not included in the categories of work covered by the United States Copyright Act, 17
U. S. C. (S) 101, as amended, such work is hereby assigned or transferred completely and exclusively to the Corporation. Employee
hereby irrevocably designates counsel to the Corporation as Employee's agent and attorney-in-fact to do all lawful acts necessary
to apply for and obtain patents and copyrights and to enforce the Corporation's rights under this Section. This Section 7 shall
survive the termination of this Agreement. Any assignment of copyright hereunder includes all rights of paternity, integrity, disclosure
and withdrawal and any other rights that may be known as or referred to as "moral rights" (collectively "Moral Rights").
To the extent such Moral Rights cannot be assigned under applicable law and to the extent the following is allowed by the laws
in the various countries where Moral Rights exist, Employee hereby waives such Moral Rights and consents to any action of the Corporation
that would violate such Moral Rights in the absence of such consent. Employee agrees to confirm any such waivers and consents from
time to time as requested by the Corporation.

 

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		8.	TERMINATION

 

Employee’s
employment hereunder shall continue as set forth in Section 2 hereof unless terminated upon the first to occur of the following
events:

 

		(a)	The death or disability of Employee,

 

		(b)	Termination by the Corporation for Just Cause,

 

		(c)	Termination by the Corporation without Just Cause,

 

(For the purpose of
this Agreement, termination for “Just Cause” shall mean a termination for gross insubordination; acts of embezzlement
or misappropriation of funds; fraud; dereliction of fiduciary obligation; conviction of a felony, a willful unauthorized disclosure
of confidential information belonging to the Corporation or entrusted to the Corporation by a client; a material violation of any
provision of the Agreement which is not cured by Employee within fifteen days of receiving written notice of such violation by
the Corporation; being under the influence of drugs (other than prescription medicine or other medically-related drugs to the extent
that they are taken in accordance with their directions) during the performance of Employee’s duties under this Agreement,
engaging in behavior that would constitute grounds for liability for harassment (as proscribed by the U.S. Equal Employment Opportunity
Commission Guidelines or any other applicable state or local regulatory body) or other egregious conduct that violates laws governing
the workplace; Termination for Just Cause shall also include the failure of Employee to perform his written assigned tasks, where
such failure is attributable to the fault of Employee. In this event, the Corporation will first provide a written warning of such
failure and the allocation of fault, and provide a reasonable time period to cure such failure, in no case less than thirty days.)

 

		(d)	Material breach by the Corporation of any provision
of this agreement that is not cured within fifteen (15) days of written notice thereof from Employee, or

 

		(e)	Termination by Employee at any time.

 

The Corporation shall not be required to
pay any severance to Employee in case of any termination of Employee’s employment.

 

 

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		9.	NOTICES

 

Any notice or other
communication under this Agreement shall be in person or in writing and shall be deemed to have been given: (i) when delivered
personally against receipt therefor, (ii) one (1) day after being sent by Federal Express or similar overnight delivery, (iii)
three (3) days after being mailed registered or certified mail, postage prepaid, return receipt requested, to either party at the
address set forth above, or to such other address as such party shall give by notice hereunder to the other party, or (iv) when
sent by facsimile, followed by oral confirmation and with a hard copy sent as in (ii) or (iii) above.

 

		10.	SEVERABILITY OF PROVISIONS

 

If any provision of
this Agreement shall be declared by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced in
whole or in part, such provision shall be interpreted so a to remain enforceable to the maximum extent permissible consistent with
applicable law and the remaining conditions and provisions or portions thereof shall nevertheless remain in full force and effect
and enforceable to the extent they are valid, legal and enforceable, and no provision shall be deemed dependent upon any other
covenant or provision unless so expressed herein.

 

		11.	ENTIRE AGREEMENT MODIFICATION

 

This Agreement contains
the entire agreement of the parties relating to the subject matter hereof, and the parties hereto have made no agreements, representations
or warranties relating to the subject matter of this Agreement which are not set forth herein. No modification of this Agreement
shall be valid unless made in writing and signed by the parties hereto.

 

		12.	BINDING EFFECT

 

The rights, benefits,
duties and obligations under this Agreement shall inure to, and be binding upon, the Corporation, its successors and assigns, and
upon Employee and his legal representatives. This Agreement constitutes a personal service agreement, and the performance of Employee’s
obligations hereunder may not be transferred or assigned by Employee.

 

		13.	NON-WAIVER

 

The failure of either
party to insist upon the strict performance of any of the terms, conditions and provisions of this Agreement shall not be construed
as a waiver or relinquishment of future compliance therewith, and said terms, conditions and provisions shall remain in full force
and effect. No waiver of any term or condition of this Agreement on the part of either party shall be effective for any purpose
whatsoever unless such waiver is in writing and signed by such party.

 

		14.	GOVERNING LAW, DISPUTE RESOLUTION

 

This Agreement shall
be governed by, and construed and interpreted in accordance with, the laws of the State of Michigan of the United States of America
without regard to principles of conflict of laws.

 

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		15.	HEADINGS

 

The headings of paragraphs
are inserted for convenience and shall not affect any interpretation of this Agreement.

 

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

 

Corporation:

 

ADEONA PHARMACEUTICALS, INC.

 

By:  /s/ James S. Kuo

Title:  Authorized Agent

 

Employee:

 

/s/ Steve H. Kanzer

Steve H. Kanzer

 

 

 

    	6Financial Advisory Agreement

 

 

Adeona Pharmaceuticals, Inc.

3930 Varsity
Drive

Ann Arbor, MI 48108

 

December 20, 2011

 

Griffin Securities, Inc.

17 State Street

New York, NY 10004

 

Attention: Adrian Z. Stecyk, Chief Executive
Officer

 

Ladies and Gentlemen:

 

The undersigned, Adeona
Pharmaceuticals, Inc., a Delaware corporation (the “Company”), hereby agrees with Griffin Securities, Inc. (“Griffin”)
to engage Griffin as its financial advisor on the terms and conditions set forth in this letter (the “Agreement”).

 

1. Engagement.
The Company hereby engages Griffin to act as its non-exclusive financial advisor during the term hereof
in connection with possible business transactions (“Transactions”) and general financial advice with respect to the
Company. As financial advisor, subject to the performance of the Company’s obligations hereunder, Griffin will consult with
and assist the Company in the structuring, analyses, negotiation of Transactions and render general financial advice, as reasonably
requested by the Company from time to time to the extent Griffin deems appropriate. If requested by the Company, Griffin will render
an opinion to the Board of Directors of the Company as to the fairness from a financial point of view to the Company’s shareholders
of the consideration to be received by the Company or its shareholders or to be paid by the Company in a Transaction. Any such
opinion will be in form and with such qualifications as determined appropriate by Griffin in its sole discretion. Griffin
will not be required to make any independent verification of the accuracy or completeness of any information supplied or otherwise
made available to it.  Griffin’s services shall be on a best efforts basis. Griffin shall not
have any authority to bind the Company with respect to any Transaction.

 

2. Compensation.

 

(a) Fixed Fee. The
Company will pay to Griffin a retainer in the amount of $10,000 per month payable on the first day of each month during the term
of this Agreement. All or part of such retainer may be paid by the Company in shares of fully paid and non-assessable Common Stock
of the Company based on the closing price of such stock on the principal trading market immediately preceding the date that such
payment is due. Such fee shall be payable and not refundable whether or not any Transactions are consummated.

 

(b)
Warrant Compensation. Company shall issue to Griffin warrants exercisable for (5) years to purchase one hundred thousand (100,000)
shares of the Company’s Common Stock (subject to AMEX approval) having an exercise price equal to the closing price of the
Company’s common stock on the date hereof, subject to splits and adjustment (the “Warrant Compensation”). Such
warrants shall be issued for cash consideration of $0.001 per underlying share and shall contain a provision for cashless exercise.
The common stock underlying the warrants will have piggyback registration rights to the extent that the resale of such shares is
not available under Rule 144. 

 

    	 

    	 	

    
 

 

(c) Business Transactions.
If the Company engages in a Business Transaction (as hereinafter defined) during the term of this Agreement with any person or
entity, the Company will pay or cause to be paid to Griffin at the closing of such Business Transaction a cash fee based on the
total consideration paid or contributed to the Company or shareholders of the Company or paid by the Company, including cash, securities,
indebtedness, indebtedness assumed, contingent or future payments or other property, in such Business Transaction, equal to the
following percentages applied cumulatively: 5% of the total consideration up to $2 million; 4% of total consideration between $2
million and $4 million; 3% of total consideration between $4 million and $ 6 million; 2% on total consideration between $6 million
and $8 million; and 1% on total consideration above $8 million. If any such consideration is other than cash or are contingent
or future payments, for the purpose of calculating the fee to Griffin hereunder, such consideration will be valued at fair market
value as determined by Griffin and the Company in good faith. For the purposes hereof, a Business Transaction shall include without
limitation a purchase, sale, exchange, lease or license of tangible or intangible assets of the Company, including stock of a subsidiary
or affiliate, other than in the ordinary course of business of the Company, merger, consolidation or other form of business combination,
reorganization, strategic alliance, joint venture or similar transaction. In order to be considered a Business Transaction, the
person or entity constituting the counterparty shall be required to be approved in advance in writing by Company and listed on
Schedule A attached hereto as may be amended from time to time by Griffin and Company.

 

(d) Fairness Opinion.
If the Company shall request that Griffin render a fairness opinion with respect to any Transaction, Griffin shall be paid an additional
fee of $75,000, payable one-half when the Company requests such fairness opinion and the balance upon delivery of such opinion
by Griffin.

 

Notwithstanding anything
to the contrary herein, if a Business Transaction shall be consummated within 12 months after any termination of this Agreement
with any person or entity listed on Schedule A, Griffin shall be entitled to receive its compensation set forth in paragraph 2(c)
above upon closing of such Transaction.

 

3. Expenses. It shall be the Company’s obligation
to bear all of its expenses in connection with this Agreement and any Transaction. In addition, the Company shall reimburse Griffin
for its reasonable actual out of pocket expenses, including reasonable legal fees and disbursements up to a maximum aggregate
amount of $50,000, expenses in excess of $4,000 per month shall be required to approved in advance by Company. The provisions
of this paragraph shall survive any termination of this Agreement.

 

4. Further Representations
and Agreements of the Company. The Company further represents and agrees that it is authorized to enter into this Agreement
and to carry out any Transaction contemplated hereunder and this Agreement constitutes a legal, valid and binding obligation of
the Company, enforceable in accordance with its terms.

5. Indemnification.
In the event that a Business Transaction is consummated, the Company agrees to indemnify Griffin and certain affiliated and related
persons in accordance with the provisions set forth in Exhibit A attached hereto. Griffin shall indemnify and hold harmless
the Company and each of its affiliates, stockholders, directors, officers, employees, agents and controlling persons within the
meaning of the Securities Act of 1933, as amended, to the same extent as set forth in the indemnity from the Company in Exhibit
A, but only in connection with (i) information relating to Griffin furnished in writing to the Company specifically for inclusion
in any Business Transaction materials and (ii) any and all losses, claims, expenses, damages and liabilities arising out of the
gross negligence or willful misconduct of Griffin as finally determined by a court of competent jurisdiction. Such indemnification
will survive any termination of this Agreement.

 

    	 

    	 	

    
 

 

6. Term. This
Agreement shall continue for a period of 12 months from the date hereof but may be terminated by either party upon thirty (30)
days prior notice after three (3) months.

 

7. Representations
of Griffin. Griffin represents and warrants that it is duly registered or licensed as a broker-dealer in each jurisdiction
in which its activities hereunder require registration or license and it is authorized to enter into this Agreement and to carry
out its obligations hereunder and this Agreement constitutes a legal, valid and binding obligation of Griffin, enforceable in accordance
with its terms.

 

8. Miscellaneous.

 

(a) Governing Law.
This Agreement and the transactions contemplated hereby shall be governed in all respects by the laws of the State of Delaware,
without giving effect to its conflict of laws principles. Venue for all purposes herein shall be in the State of Delaware.

 

(b) Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which together
shall constitute one and the same instrument.

 

(c) Notices. Whenever notice is required to be given pursuant to this
Agreement, such notice shall be in writing and shall either be mailed by certified first class mail, postage prepaid, or delivered
personally or by express courier, addressed to the parties at their respective addresses set forth above. The notice shall be
deemed given, if sent by mail, on the third day after deposit in a United States post office receptacle, or if delivered personally
or by express courier, then upon delivery. Either party may change its address by like notice.

 

(e) Entire Agreement.
Except for any non-disclosure or confidentiality agreement entered into by and between the parties hereto, this Agreement sets
forth the entire understanding of the parties relating to the subject matter hereof, and supersedes and cancels any prior communications,
understanding, and agreements between parties. This Agreement cannot be modified or changed, nor can any of its provisions be
waived, except by written agreement signed by the parties against which enforcement is sought.

 

 

    	 

    	 	

    

 

 

If the foregoing correctly
sets forth the understanding between Griffin and the Company, please so indicate in the space provided below for that purpose whereupon
this letter shall constitute a binding agreement between us.

  

 

	 	Very truly yours,
	 	 	 
	 	ADEONA PHARMACEUTICALS, INC.
	 	 
	 	 
	 	By	/s/ James S. Kuo

 

Confirmed and
agreed to:

 

GRIFFIN SECURITIES, INC.

 

By /s/
Adrian Stecyk

     Chief Executive
Officer

 

 

    	 

    	 	

    
 

 

EXHIBIT
A

 

December
, 2011

 

 

Griffin Securities, Inc.

17 State Street

New York, NY 10004

 

Attention: Adrian Z. Stecyk, Chief Executive
Officer

 

Ladies and Gentlemen:

 

In connection with
our (the “Company”) engagement of Griffin Securities, Inc. ("Griffin") as our financial advisor and/or agent,
to the extent that a Business Transaction (as defined in the Financial Advisory Agreement) is consummated, we hereby agree to indemnify
and hold harmless Griffin and its affiliates, and the respective controlling persons, directors, officers, shareholders, agents
and employees of any of the foregoing (collectively the "Indemnified Persons"), from and against any and all claims,
actions, suits, proceedings (including those of shareholders), damages, liabilities and expenses incurred by any of them (including
the reasonable fees and expenses of counsel), (collectively a "Claim"), which are related to such Business Transaction
and are (A) related to or arise out of (i) any actions taken or omitted to be taken (including any untrue statements or alleged
untrue statements made or any statements omitted or alleged to have been omitted to be made) by the Company, or (ii) any actions
taken or omitted to be taken by any Indemnified Person in connection with our engagement of Griffin, or (B) otherwise relate to
or arise out of Griffin's activities on our behalf pursuant to Griffin’s engagement, and we shall reimburse any Indemnified
Person for all expenses (including the reasonable fees and expenses of counsel) incurred by such Indemnified Person in connection
with investigating, preparing or defending any such claim, action, suit or proceeding, whether or not in connection with pending
or threatened litigation, in which any Indemnified Person is a party. We will not, however, be responsible for any Claim which
is finally judicially determined to have resulted from the gross negligence or willful misconduct of any Indemnified Person. We
further agree that no Indemnified Person shall have any liability to us for or in connection with our engagement of Griffin except
for any Claim incurred by us as a result of any Indemnified Person's gross negligence or willful misconduct.

 

We further agree that
we will not, without the prior written consent of Griffin, settle, compromise or consent to the entry of any judgment in any pending
or threatened Claim in respect of which indemnification may be sought hereunder (whether or not any Indemnified Person is an actual
or potential party to such Claim), unless such settlement, compromise or consent includes an unconditional, irrevocable release
of each Indemnified Person hereunder from any and all liability arising out of such Claim.

 

Promptly upon receipt
by an Indemnified Person of notice of any complaint or the assertion or institution of any Claim with respect to which indemnification
is being sought hereunder, such Indemnified Person shall notify us in writing of such complaint or of such assertion or institution,
but failure to so notify us shall not relieve us from any obligation we may have hereunder unless and only to the extent such failure
results in the forfeiture by us of substantial rights and defenses. If we so elect or are requested by such Indemnified Person,
we will assume the defense of such Claim, including the employment of counsel reasonably satisfactory to such Indemnified Person
and the payment of the fees and expenses of such counsel. In the event, however, that legal counsel to such Indemnified Person
reasonably determines and provides written correspondence to us that having common counsel would present such counsel with a conflict
of interest or if the defendant in, or target of, any such Claim, includes an Indemnified Person and us, and legal counsel to such
Indemnified Person reasonably concludes that there may be legal defenses available to it or other Indemnified Persons different
from or in addition to those available to us, then such Indemnified Person may employ its own separate counsel to represent or
defend it in any such Claim and we shall pay the reasonable fees and expenses of such counsel. Notwithstanding anything herein
to the contrary, if we fail timely or diligently to defend, contest, or otherwise protect against any Claim, the Indemnified Person
shall have the right, but not the obligation, to defend, contest, assert cross claims, or counterclaims or otherwise protect against
the same, and shall be fully indemnified by us therefor, including without limitation, for the reasonable fees and expenses of
its counsel and all amounts paid as a result of such Claim or the compromise or settlement thereof. In no event, however, will
any Indemnified Party, without our prior written consent (which will not be unreasonably withheld), settle, compromise or consent
to the entry of any judgment in any pending or threatened Claim in respect of which indemnification may be sought hereunder (whether
or not any Indemnified Person is an actual or potential party to such Claim). In any Claim in which we assume the defense, the
Indemnified Person shall have the right to participate in such Claim and to retain its own counsel therefor at its own expense.

 

    	 

    	 	

    
 

 

We agree that if any
indemnity sought by an Indemnified Person hereunder is unavailable for any reason then (whether or not Griffin is the Indemnified
Person), we and Griffin shall contribute to the Claim for which such indemnity is held unavailable in such proportion as is appropriate
to reflect the relative benefits to us, on the one hand, and Griffin on the other, in connection with Griffin's engagement referred
to above, subject to the limitation that in no event shall the amount of Griffin's contribution to such Claim exceed the amount
of fees actually received by Griffin from us pursuant to Griffin's engagement. We hereby agree that the relative benefits to us,
on the one hand, and Griffin on the other, with respect to Griffin's engagement shall be deemed to be in the same proportion as
(a) the total value paid or proposed to be paid or received by us or our stockholders as the case may be, pursuant to the transaction
(whether or not consummated) for which you are engaged to render services bears to (b) the fees paid or proposed to be paid to
Griffin in connection with such engagement.

 

Our indemnity, reimbursement
and contribution obligations under this Agreement shall be in addition to, and shall in no way limit or otherwise adversely affect
any rights that any Indemnified Party may have at law or at equity.

 

The validity and interpretation
of this agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware applicable
to agreements made and to be fully performed therein (excluding the conflicts of laws rules). Each of Griffin and the Company hereby
irrevocably submits to the jurisdiction of any court of the State of Delaware for the purpose of any suit, action or other proceeding
arising out of this agreement or the transactions contemplated hereby, which is brought by or against Griffin or the Company and
in connection therewith, each of Griffin and the Company (i) hereby irrevocably agrees that all claims in respect of any such suit,
action or proceeding may be heard and determined in any such court, (ii) to the extent that it has acquired, or hereafter may acquire,
any immunity from jurisdiction of any such court or from any legal process therein, it hereby waives, to the fullest extent permitted
by law, such immunity and (iii) agrees not to commence any action, suit or proceeding relating to this agreement other than in
any such court. Each of Griffin and the Company hereby waives and agrees not to assert in any such action, suit or proceeding,
to the fullest extent permitted by applicable law, any claim that (a) it is not personally subject to the jurisdiction of any such
court, (b) it is immune from any legal process (whether through service or notice, attachment prior to judgment, attachment in
aid of execution, execution or otherwise) with respect to its property of (c) any suit, action or proceeding is brought in an inconvenient
forum.

 

The
provisions of this agreement shall survive and remain in full force and effect following the completion or termination of Griffin's
engagement.

 

 

	 	Very truly yours,
	 	 	 
	 	ADEONA PHARMACEUTICALS, INC.
	 	 
	 	 
	 	By	/s/ James S. Kuo

 

Confirmed and
agreed to:

 

GRIFFIN SECURITIES, INC.

 

By /s/
Adrian Stecyk

     Chief Executive
Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00202-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00202-of-00352.parquet"}]]