Document:

Research Collaboration Agreement

 EXHIBIT 10.2 
 [LETTERHEAD OF SENETEK PLC] 
 June 10, 2003 
  
 Dr. Horst Wenck 
 Beiersdorf A.G. 
 Unnastrasse 48 
 Hamburg 20045 
 Germany 
  
 Dear Dr. Wenck: 
  
 We are very pleased to confirm the
terms of the proposed collaboration between Senetek PLC and Beiersdorf AG regarding Beierdorf’s evaluation of the use of kinetin, zeatin and other cytokinins covered by Senetek’s issued international and national patents for
pharmaceutical, dermatological and cosmeceutical applications, a current listing of which is attached to this letter, or any patents covering such compositions or methods that may hereafter be licensed to Senetek by a third party (subject to any
limitations on sub-licensing that may be contained in any such license) (collectively, the “Patents”). 
  
 1. Supply of Compounds. At its cost, Senetek will supply samples of kinetin, zeatin and, subject to availability at commercially reasonable cost,
other cytokinin compounds of interest to Beiersdorf which are within the claims of the Patents, in quantities reasonably requested by Beiersdorf, solely for purposes of Beiersdorf’s evaluation and testing in accordance with this Agreement. If
Senetek determines that any such additional compounds are not available at commercially reasonable cost, it shall so advise Beiersdorf which shall have the option to defray such additional cost. Senetek shall assure that all compounds delivered by
it are of suitable purity for purposes of Beiersdorf’s evaluation and testing, and shall provide assay reports thereon at the time of delivery. In providing such materials, Senetek shall comply with all legislation and regulations concerning
shipment of substances by land, sea or air. Senetek also shall provide to Beiersdorf all information in its possession or control regarding the compounds supplied, including the results of any testing theretofore performed by Senetek or by third
parties under contract with or otherwise for the benefit of Senetek (subject to any applicable confidentiality limitations with such third parties). 
  
 2. Test Methodologies and Protocols. Senetek recognizes that Beiersdorf must be free to develop its testing program and related methodologies and
protocols as its evaluations proceed, subject to the terms of this Agreement. Beiersdorf shall provide Senetek with its plans of the in vitro, en vivo, in vivo and other testing planned to be performed from time to time, and of the related
methodologies, in studying the anti-senescence activity, toxicity, stability and other attributes of the compounds to be evaluated. 
  
 3. Conduct of Testing. At its cost, Beiersdorf shall conduct such testing and shall obtain all approvals and consents required for the conduct of
such testing in accordance with the requirements of any institution at which such testing is to be performed. Senetek recognizes that the initial testing of each compound will be exploratory in nature to develop more definitive evaluative
procedures, and will not necessarily conform to good laboratory practices, but Beiersdorf agrees that all testing pursuant to this Agreement shall be done in a professional manner and in accordance with generally accepted research practices.

  
 4. Reports and Meetings. Beiersdorf shall furnish to
Senetek periodic, timely reports of all evaluation and testing performed and results obtained during the period since the preceding report, including prompt interim reports in the event of any material development. In addition, upon completion of
testing of each compound, Beiersdorf shall furnish to Senetek a report setting forth its conclusions and indicating whether Beiersdorf wishes to enter into negotiations for a license for use of the compound as described in paragraph 6 below. As
frequently as appropriate Beiersdorf shall conduct program review meetings at Beiersdorf’s research facility between its researchers and representatives of Senetek to discuss the progress of the program, address problems or concerns, resolve
questions and confirm future plans. Such reports shall be treated as confidential information as provided in paragraph 9, provided that 

 if Beiersdorf does not elect to enter into a license for the use of any compound which is the subject of any such report,
Senetek shall own such reports and the laboratory and other records of evaluation and testing prepared by Beiersdorf as provided in paragraph 3, and shall be entitled to use the same for its own account in commercially developing such compound, and
provided further that if Beiersdorf does enter into a license for the use of any compound which is the subject of any such report, Beiersdorf shall be entitled to use the same in commercially developing such compound within the scope of such
license and Senetek shall be entitled to use the same in commercially developing such compound outside of the scope of such license. 
  
 5. Program Completion. As part of each report referred to in paragraph 4, Beiersdorf shall provide its estimate of the tests and time required for
it to complete its evaluation of the compounds then being evaluated, it being agreed that Beiersdorf shall attempt to complete its evaluation of each compound within six months of its receipt of such compound and related materials as provided in
paragraph 1, if consistent with the requirements of paragraph 3. It is agreed that notwithstanding paragraph 10, any research that is ongoing on the date that the term of this Agreement expires shall be completed as promptly as practical consistent
with the dictates of paragraph 3, and all of the terms of this Agreement shall apply to any results of such evaluation notwithstanding the expiration or termination of the term of this Agreement. 
  
 6. Licensing. Promptly following receipt by Senetek of any
notification by Beiersdorf as described in paragraph 4 that Beiersdorf wishes to enter into negotiations for a license of any of the compounds that is has evaluated, representatives of Senetek and Beiersdorf shall commence good faith negotiations
for a license thereof upon terms reflective of the commercial potential of such compound and mutually acceptable to the parties. Unless otherwise mutually agreed, any such license shall grant Beiersdorf exclusive rights for the life of the related
Patents (including any reissues, continuations in part or the like which are entitled to the same priority dates as the Patents) and any new patents filed in accordance with paragraph 7 below, to use such compound for skin care, cosmetic and other
so-called “cosmeceutical” products sold in the “mass market” channel of distribution worldwide. The parties shall endeavor to complete the negotiation and execution of such license within three months of commencement of
negotiations. In the event that, subsequent to the execution of such license, Beiersdorf identifies other compounds covered by the Patents or any new patents filed as provided in paragraph 7 which it wishes to license, such additional compounds will
be added to the existing license by an amendment setting forth such terms applicable to exploitation of such compound as are reflective of the commercial potential thereof and are mutually acceptable to the parties.. In the event that, despite the
parties’ good faith efforts, such a license is not negotiated and executed within the three month period above provided (or such longer period as the parties may mutually agree), Senetek shall be entitled to negotiate with third parties for a
license of rights to the compound or compounds that were the subject of such negotiation, provided that Senetek shall not enter into a license with such a third party on terms more favorable to such third party than the terms finally offered
by Senetek to Beiersdorf in the course of their negotiations, without first offering Beiersdorf a ten day period to execute such license upon such more favorable terms. The parties agree that Beiersdorf shall not have any rights with respect to any
compound evaluated under this Agreement other than the rights provided for in this Agreement, including without limitation any right to a license of such compound beyond the field of use referred to above, provided that Senetek agrees not to
exploit or license any third party to exploit for pharmaceutical purposes any such compound for which Beiersdorf is licensed hereunder in any manner that would preclude or materially restrict exploitation of such compound by Beiersdorf in the field
of use referred to above. 
  
 7. Intellectual Property. In
the event, and on each occasion, that Beiersdorf’s evaluation and testing of compounds covered by this Agreement reveals an effect of any such compounds that is not adequately covered by the Patents or any patents theretofore issued as provided
in this Section 7 and which merits patent protection, the parties shall collaborate in the preparation of documents required for the filing of patent applications on each such invention and each such application shall include the names of those
employees of the parties (as co-inventors) who were responsible for the development of 

 the invention. Senetek shall be the owner of such patents, and shall pay the cost of preparing, filing, prosecuting and
maintaining such patents in all countries in which Senetek (and Beiersdorf if it is licensed thereunder) wishes to obtain patent protection, provided that if Senetek declines to file in any country in which Beiersdorf wishes patent
protection, Beiersdorf shall pay such costs and shall be entitled to a credit against future royalties for the amount of such costs. Neither party shall make any publication with respect to any such invention until such time as patent protection as
above provided has been obtained. Notwithstanding the foregoing, if any invention referred to above involves both a composition evaluated by Beiersdorf under this Agreement and a composition or process covered by a patent or patents heretofore
acquired by or licensed to Beiersdorf, then the parties shall jointly pay the costs of preparing, filing, prosecuting and maintaining, and shall jointly own, any patent with respect thereto, provided that if Beiersdorf is precluded from doing
so by the terms of any license or other contractual restriction, no patent shall be applied for on such invention but the parties shall negotiate in good faith for cross-licenses of their respective rights so as to permit exploitation of such
invention on commercially reasonable terms, if practicable. 
  
 8.
Acknowledgement of Validity. In considereation of the rights granted to Beiersdorf herein and of the delivery by Senetek of its confidential information for purposes of Beiersdorf’s evaluation and testing of the compounds covered by the
Patents, Beiersdorf, for itself and its affiliates and their respective directors, officers, employees and agents (collectively, “Representatives”) hereby irrevocably acknowledges that the Patents and any patents issued as provided in
paragraph 7 are owned by Senetek and are in all respects valid and enforceable, relinquishes all rights to dispute such ownership, validity and enforceability, and covenants not to assert, either affirmatively or defensively, that any of the Patents
or such additional patents is not so owned or is invalid or unenforceable in any respect, in any court or other proceedings or before any patent office or tribunal whatsoever. 
  
 9. Confidentiality. The parties acknowledge that they are parties to a Confidentiality and Non-Use Agreement dated
September 18, 2002,, which shall apply to the subject matter of this Agreement and accordingly is incorporated herein by reference with the same force and effect as if the same were set forth herein in full. In addition, except as otherwise provided
in this Agreement, the parties agree to treat as confidential, in accordance therewith, all information concerning this Agreement and any and all information developed by either party in the performance of this Agreement, provided that upon
execution of this Agreement the parties shall issue a joint press release in the form attached hereto. 
  
 10. Term. This Agreement shall continue in effect for twelve (12) months from the date of Beiersdorf’s acceptance hereof, unless sooner
terminated by either party on not less than three (3) months prior written notice, provided that termination or expiration of the term of this Agreement shall not affect the rights and obligations of the parties hereunder with respect to any
events during the term. 
  
 11. Indemnification; Governing Law
and Dispute Resolution. Each party, on behalf of itself and its affiliates (collectively, the “Indemnitor”) agrees to indemnify and hold harmless the other party and its Representatives (collectively the “Indemnitee”) from
and against any and all loss, cost or liability arising from any breach by the Indemnitor of any of its agreements or obligations herein. This Agreement shall be governed by and interpreted in accordance with the laws of California applicable to
agreements made therein. In the event of any dispute between the parties concerning the validity, interpretation or performance of this Agreement which the parties are unable in good faith to resolve within thirty days after notice by either party
of such a dispute, such dispute shall be referred for a final and binding decision by a panel of three arbitrators appointed under and acting in accordance with the Commercial Arbitration Rules of the American Arbitration Association (the
“Panel”), such arbitration to be conducted in Napa, California, provided that in an appropriate case either party may apply to any court of competent jurisdiction for provisional injunctive relief pending the decision of the Panel.
The parties agree to abide by and execute the award of the Panel without delay, and enforcement of such award may be applied for in any court of competent jurisdiction. 

 12. General. 
  

	 	•	 	No Joint Venture. It is not the intent of the parties to form any partnership or joint venture. Each party shall, in relation to its rights and obligations hereunder, act as
an independent contractor, and nothing herein shall give either party the power or authority to act for, bind or commit the other. 

  

	 	•	 	No Assignment. Neither party may assign its rights or delegate its obligations under this Agreement without the prior written consent of the other party.

  

	 	•	 	Notices. Any notice required or permitted to be given hereunder shall be given by certified mail or recognized express courier service with signature required for delivery to
the addresses of the parties set forth above, or to such other address as either party may direct by notice to the other. All notices shall be simultaneously given by facsimile transmission to such facsimile numbers as the parties may from time to
time direct. 

  

	 	•	 	Time Periods. The time periods provided for herein during which either party is permitted or required to take any action shall be tolled and extended for such period of time,
if any, as the other party is in breach of any of the terms of this Agreement. 

  

	 	•	 	Entire Agreement. This letter constitutes the sole and entire agreement between the parties and supercedes any or all prior agreements or understandings, written or oral.
This Agreement shall not be deemed amended in any respect unless such amendment is set forth in a written instrument specifically amending this Agreement and signed by both parties. No failure by either party to exercise, and no delay in exercising,
any right hereunder shall be deemed a waiver or relinquishment of such right. 

  
 If this letter correctly reflects the agreement between us, please sign and return one copy of this letter. 
  

	Very truly yours,
	
	SENETEK PLC
		
	 By:
	 	  

	 	 	 Andreas O. Tobler
 COO & MD Europe

  
 Agreed and Accepted: 

 

	 BEIERSDORF AG
	 	 	 	 	 	 
					
	 By:
	 	  

	 	 	 	By:	 	  

	 Name:
	 	
	 	 	 	 Name:
	 	  

	 Date:
	 	
	 	 	 	 Date:
	 	  

 LIST OF SENETEK PATENTS 
  

	Patent No.

	  	Issue Date

	  	 Title

	  	Expires

	 5,151,425
	  	9/29/1992	  	Method/Comp For Treating Inflammation	  	6/20/2011
	 1,339,503
	  	10/21/1997	  	Ameliorating Effects of Aging	  	10/21/2016
	 5,021,422
	  	6/4/1991	  	Method/Comp for Treat Hyper Skin Diseases	  	6/4/2008
	 5,164,394
	  	11/17/1992	  	Method/Comp for Treat Hyper Skin Diseases	  	10/17/2009
	 250273
	  	1/28/1997	  	Method/Comp for Amel Adv Effects Aging	  	1/28/2012
	 666836
	  	7/9/1996	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 0584068
	  	10/6/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 0584068
	  	10/6/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 PI9107307
	  	10/31/2000	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 2,108,369
	  	 	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 ZL91104472
	  	11/27/1997	  	Method/Comp for Amel Adv Effects Aging	  	1/28/2006
	 0584068
	  	4/10/2000	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 584068
	  	10/6/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 935039
	  	 	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 0584068
	  	10/6/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 P69131692.9
	  	10/6/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 0584068
	  	10/6/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 0584068
	  	10/6/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/29/2011
	 1715/91
	  	 	  	Method/Comp for Amel Adv Effects Aging	  	5/20/2007
	 98204
	  	2/12/1995	  	Method/Comp for Amel Adv Effects Aging	  	5/20/2010
	 0584068
	  	10/6/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 3103375
	  	8/25/2000	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 3103375
	  	8/25/2000	  	Method/Comp for Amel Adv Effects Aging	  	 
	 0584068
	  	10/6/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 PI9100865
	  	5/22/1991	  	Method/Comp for Amel Adv Effects Aging	  	 
	 178834
	  	7/21/1995	  	Method/Comp for Amel Adv Effects Aging	  	5/22/2011
	 0584068
	  	10/6/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2007
	 238210
	  	3/4/1994	  	Method/Comp for Amel Adv Effects Aging	  	5/21/2007
	 247836
	  	8/8/1997	  	Method/Comp for Amel Adv Effects Aging	  	5/21/2007
	 304814
	  	2/22/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 42893
	  	 	  	Method/Comp for Amel Adv Effects Aging	  	 
	 91120262
	  	 	  	Method/Comp for Amel Adv Effects Aging	  	 
	 196660
	  	2/22/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 0584068
	  	10/6/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 0584068
	  	10/6/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 0584068
	  	10/16/1999	  	Method/Comp for Amel Adv Effects Aging	  	5/16/2011
	 076376
	  	5/23/1996	  	Method/Comp for Amel Adv Effects Aging	  	7/28/2011
	 727
	  	 	  	Method/Comp for Amel Adv Effects Aging	  	6/6/2011

	 0584062
	  	1/7/1998	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2011
				
	Patent No.

	  	Issue Date

	  	 Title

	  	Expires

	 0584062
	  	1/7/1998	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2006
	 2107896
	  	5/16/1991	  	Method/Comp for Treat Hyper Skin Diseases	  	5/10/2011
	 0584062
	  	1/7/1998	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2011
	 0584062
	  	1/7/1998	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2011
	 0584062
	  	1/7/1998	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2011
	 0584062
	  	1/7/1998	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2011
	 0584062
	  	1/7/1998	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2011
	 3103374
	  	8/24/2000	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2011
	 0584062
	  	1/7/1998	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2011
	 0584062
	  	1/7/1998	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2011
	 0584062
	  	1/7/1998	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2011
	 0584062
	  	1/7/1998	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2011
	 0584062
	  	1/7/1998	  	Method/Comp for Treat Hyper Skin Diseases	  	5/16/2011
	 5,371,089
	  	12/6/1994	  	Method/Comp for Amel Adv Effects Aging	  	12/6/2011
	 5,602,139
	  	2/11/1997	  	Method/Comp for Amel Adv Effects Aging	  	2/11/2008
	 5,614,407
	  	3/25/1997	  	Method/Comp for Amel Adv Effects Aging	  	3/25/2008Cooperative Research and Development Agreement

 EXHIBIT 10.3 
  
 AGREEMENT ON COOPERATIVE RESEARCH AND DEVELOPMENT 
  
 between 
  
 Institute of Experimental Botany 
 Academy of Sciences of the Czech Republic 
 Rozvojova 135 
 160 00 Praha 6 
 Czech Republic 
 (hereinafter referred to as the INSTITUTE 
  
 and 
  
 Senetek PLC 
 620 Airpark Road 
 Napa, CA 94558 
 USA 
 (hereinafter referred to as SENETEK) 
  
 WHEREAS the INSTITUTE in its Laboratory of Growth Regulators headed by Professor Miroslav Strnad is performing basic research on cytokinins and related plant growth regulators and is willing to provide to SENETEK samples of cytokinins and
cytokinin analogs and related information developed at the INSTITUTE and covered by patents and/or patent applications of owned by the INSTITUTE, for testing, possible further development by the INSTITUE and SENETEK, and ultimately possible
licensing to SENETEK; and 
  
 WHEREAS SENETEK is a company developing
pharmaceutical and cosmeceutical products and, in connection with such business, has made certain inventions regarding cytokinins and cytokinin analogs and methods of using them for various indications related to ameliorating signs of aging which
are covered by the SENETEK PATENTS, as hereinafter defined; and 
  
 WHEREAS
SENETEK is interested in testing and evaluating, in cooperation with the INSTITUTE, COMPOUNDS, as hereinafter defined, developed by the INSTITUTE and in obtaining licenses covering such of these COMPOUNDS as it may select as hereinafter provided.

  
 NOW THEREFORE in consideration of above-mentioned premises the parties
agree as follows: 

 ARTICLE 1—DEFINITIONS 
  
 COMPOUNDS as used herein means chemical compounds developed by the INSTITUTE that may be used for medical skin care applications and/or
cosmetic skin care applications. The compounds can exhibit one or more of the following biological activities, among others: cytokinin activity in tobacco callus, wheat antisenescent and Amaranthus bioassay, antisenescent activity on human
fibroblasts, cytotoxicity for skin cancer cells, antipsoriatic activity for hyperproliferative skin cells, anti-inflammatory activity for skin cells and other anti-senescence skin cell activities. 
  
 TESTING as used herein means cytokinin activity and cytotoxicity testing to determine the
most suitable COMPOUNDS for further development for medical skin care applications and/or cosmetic skin care applications. 
  
 PARTY as used herein means either of the PARTIES to this Agreement as the case may be, and both of them when used in plural. 
  
 PATENT APPLICATION as used herein means currently owned patents and patent applications of
the INSTITUTE covering cytokinin-like COMPOUNDS including PCT/CZ02/00045 filed on August 1, 2002 titled “Heterocyclic compounds based on N6-substituted adenine, methods for their preparation, their use for preparation of drugs, cosmetic preparations and growth regulators, pharmaceutical preparations, cosmetic preparations and growth
regulators containing these compounds” inventors Dolezal et al. (scheduled for publication in February 2003). 
  
 SENETEK PATENTS as used herein means SENETEK’s issued patents (U.S. Patents 5,371,089, 5,602,139, 5,614,407, 5,021,422, 5,164,394, and 5,151,425 and the
corresponding international and foreign patents) related to the use of cyctokinins for medical skin care applications and/or cosmetic skin care applications, and any patents hereafter issued which are entitled to the same priority date(s) as such
issued patents. 
  
 EFFECTIVE DATE as used herein shall mean the date of the last
signature of this Agreement by the PARTIES. 
  
 ARTICLE 2—SCOPE OF THE
AGREEMENT 
  

	2.1	 	Subject to the terms and conditions of this Agreement, SENETEK shall from time to time, as provided in Article 3 below, obtain from the INSTITUTE such of the COMPOUNDS which are
covered by the PATENT APPLICATION as SENETEK may designate. 

  

	2.2	 	During the term of this Agreement SENETEK will screen and conduct TESTING of these COMPOUNDS in skin models and otherwise for their anti-senescence activity and toxicity.

  

 2 

 ARTICLE 3—DUTIES OF THE PARTIES 
  

	3.1	 	Promptly after the EFFECTIVE DATE, the INSTITUTE shall provide SENETEK with a complete listing and description of all COMPOUNDS developed by the INSTITUTE which are covered by the
PATENT APPLICATION, together with all chemical and biological information in its possession with respect to such COMPOUNDS. 

  

	3.2	 	Not more frequently than every two (2) weeks after delivery of such information by the INSTITUTE, SENETEK will select and advise the INSTITUTE, in writing, of those COMPOUNDS on
which it wishes to conduct TESTING at that time. 

  

	3.3	 	The INSTITUTE shall within two (2) weeks of receipt of each advice of SENETEK specifying selected COMPOUNDS it then wishes to test, deliver the selected COMPOUNDS to SENETEK in a
quantity of at least 100 mg each. 

  

	3.4	 	Not later than nine (9) months after delivery by the INSTITUTE of the first listing of COMPOUNDS as provided in Article 3.1, SENETEK will provide the INSTITUTE with a report of the
results of the TESTING of the COMPOUNDS. SENETEK will also indicate those COMPOUNDS for which SENETEK wishes to be granted a license. SENETEK may, if it so chooses, deliver such reports and indicate COMPOUNDS it wishes to license on more than one
occasion during such period. Such license shall be exclusive and world-wide in the field of use for medical skin care applications, including antipsoriatic, anti-inflammatory and related applications, and/or cosmetic skin care applications.

  

	3.5	 	Within three (3) months of SENETEK’s decision to license COMPOUNDS as provided in Article 3.4, the PARTIES will enter into a License Agreement with respect to such COMPOUNDS
having principle terms as set forth in the Term Sheet attached hereto. The final details of the License Agreement will be negotiated in good faith by the PARTIES hereto. 

  

	3.6	 	If SENETEK does not deliver one or more reports as provided in Article 3.4 or, having delivered such report or reports, decides not to execute a License Agreement negotiated by the
PARTIES as provided in Article 3.5, as to any particular COMPOUND or COMPOUNDS, then the INSTITUTE shall be free to commercialize such COMPOUND or COMPOUNDS itself or enter into an evaluation agreement or license or other agreement with respect
thereto with any third party on such terms as it may determine in its sole discretion, subject, however, to SENETEK’s rights under the SENETEK PATENTS as regards commercialization of any COMPOUND or method covered thereby..

  
 ARTICLE 4—CONSIDERATION; DEVELOPMENT OF SELECTED
COMPOUNDS 
  

	4.1	 	In addition to the INSTITUTE’s rights of patent ownership under Article 5, as additional consideration for the rights granted to SENETEK herein SENETEK agrees that, if SENETEK
advises the INSTITUTE as provided in Article 3.2 that it wishes to conduct TESTING on any COMPOUND or COMPOUNDS, SENETEK will be obligated to pay or reimburse the INSTITUTE for the expenses of such TESTING and/or further evaluation, in vitro and in
vivo testing, and development of the selected 

  

 3 

	  	 	COMPOUNDS (collectively with the TESTING, the ‘R&D”). Such payments to the INSTITUTE shall be made by bank transfer monthly, as such expenses are incurred, to the
account titled Ustav experimentalni botaniky AV CR, No 165891761/510 with Investicni a postovni banka, Arbesovo namesti 7, 150 00 Praha 5, Czech Republic. If the PARTIES agree that any R&D can most efficiently and effectively be done by the
INSTITUTE or by a third party laboratory with which the INSTITUTE has a relationship, such expenses shall be billed at the INSTITUTE’S direct cost of conducting or contracting out such activities. If the PARTIES agree that any R&D can most
efficiently and effectively be done by a third party laboratory or academic institution with which SENETEK has a relationship, SENETEK shall pay for such activities and provide the INSTITUTE with documentation of such payment.

  

	4.2	 	To support INSTITUTE’s research, on the EFFECTIVE DATE and on each anniversary of the EFFECTIVE DATE, SENETEK shall pay to the INSTITUTE, in the manner above set forth, the sum
of         *        , which amount shall be retained by the INSTITUTE for development of new cytokinin-like compounds. 

  

	4.3	 	In the event that SENETEK shall be required to pay a tax on any payment to the INSTITUTE, it shall deduct the amount of said tax from the payment due to the INSTITUTE and shall
provide the INSTITUTE with a copy of the Certificate of the tax having been paid pursuant to an Agreement on Avoidance of Double Taxation or for other reasons. 

  

	4.4	 	It is agreed by the PARTIES that they shall consult in good faith regarding the nature, scope and costs of all R&D, the protocols therefor and the most efficient and effective
sourcing thereof, provided that if agreement cannot be reached between the PARTIES within a reasonable time (having in mind the time limits set forth herein), SENETEK’s position shall prevail. SENETEK shall own all rights to any and all
test reports and test results from R&D paid for or reimbursed by SENETEK as above provided, and the INSTITUTE agrees not to make any publication or other disclosure thereof without SENETEK’S prior written approval. 

 
 ARTICLE 5—INTELLECTUAL PROPERTY AND EXPLOITATION OF THE RESULTS 
  

	5.1	 	In the event and on each occasion that the TESTING of the COMPOUNDS reveals an effect of any of the COMPOUNDS that is not covered by the SENETEK PATENTS or by the PATENT APPLICATION
and that merits patent protection, the following arrangement shall apply: 

 (a) the PARTIES shall collaborate in the
preparation of documents required for the filing of a patent application on each such invention; 
 (b) all such patent applications shall be
filed and owned by the INSTITUTE, and SENETEK shall have the right to an exclusive licence for use in the field of medical skin care applications and cosmetic skin care applications 
 (c) each patent application shall include the names of those employees of the PARTIES (as co-inventors) that were responsible for the development of the
invention; 
 (d) The PARTIES will agree on the filing of foreign patent protection; 
 (e) In case SENETEK executes its right to license a COMPOUND covered by a patent prepared under this Article 5.1, SENETEK will take over the cost of
obtaining and 
  
 * Confidential treatment has been requested for
these terms. 
  

 4 

 maintaining the patent protection of the invention; provided that if such patent covers COMPOUNDS
which SENETEK has elected not to take a license or claims fields of use for COMPOUNDS licensed to SENETEK that are beyond medical skin care applications and cosmetic skin care applications, the PARTIES shall share such cost according to the
commercial potential of SENETEK’S COMPOUND and/or field of use and such COMPOUND(S) and/or fields of use not licensed to SENETEK. 
 (f)
the license fee paid by SENETEK for the grant to it of an exclusive license for medical skin care applications and/or cosmetic skin care applications shall take into account the contribution made by SENETEK (both of cash and intellectual property)
to the jointly developed invention; 
 (g) if the INSTITUTE does not wish to file a patent application covering a jointly developed invention
in a certain TERRITORY, SENETEK may file a patent application covering the jointly developed invention in such TERRITORY at its own cost in which case the patent protection obtained shall be owned by SENETEK. 
  
 ARTICLE 6—CONFIDENTIALITY 
  

	6.1	 	In consideration of the use of the COMPOUNDS by SENETEK and receipt by the INSTITUTE of periodic reports on results of TESTING, and in consideration of joint research performed by
PARTIES, each receiving PARTY agrees that during the term of this Agreement, it will not, except to the extent authorized by disclosing PARTY in writing, use for any purpose other than those described herein, or publish, disclose or release to any
third party, any information regarding the R&D conducted on such COMPOUND for medical skin care applications and/or cosmetic skin care applications and/or information received or jointly developed. 

  

	6.2	 	The above restraints on use, release, and/or disclosure shall not apply to information or effects and applications of COMPOUNDS which: 

	 	•	 	at the time of delivery or disclosure are known to the receiving PARTY; 

	 	•	 	at the time of delivery or disclosure or subsequent thereto are generally available to the public through no fault of the receiving PARTY; 

	 	•	 	subsequent to the time of delivery or disclosure are independently developed by an employee or agent of the receiving PARTY who does so without reference to or knowledge of the
disclosing PARTY’S information or the COMPOUNDS; 

	 	•	 	subsequent to the time of delivery or disclosure become or are made available to the receiving PARTY by a third party having the lawful right to do so; or 

	 	•	 	are covered by Article 4.4 or subsequent to the time of such delivery or disclosure become subject of another agreement between the PARTIES hereto which permits use, release and/or
disclosure. 

 The PARTY seeking to assert any of the above exceptions shall have the burden of proof. 
  

	6.3	 	The PARTIES shall maintain the obligation of confidentiality for five years after the expiration of this Agreement. 

  

	6.4	 	Notwithstanding the foregoing, on the EFFECTIVE DATE the PARTIES shall issue a joint press release announcing the signing and general terms of this Agreement in a form mutually
agreed between the PARTIES. 

  

 5 

 ARTICLE 7—PUBLICATIONS 
  
 In the event a patent application is filed in accordance with ARTICLE 5 of this Agreement, the publication of related results shall be
delayed until this patent application is extended in other countries as determined by the PARTIES in accordance with Article 5 during the priority period. 
  
 ARTICLE 8—FORCE MAJEURE 
  

	8.1	 	Neither PARTY shall be liable for failure in performance hereunder if occasioned by any cause beyond the control of the PARTIES, such as for example fire, flood, strikes, inevitable
accidents, war, embargo, blockade, legal restrictions, governmental relations, etc. 

  

	8.2	 	The occurrence of the Force Majeure shall be notified to the other PARTY in writing within 10 working days and shall be verified by the respective chamber of commerce within further
10 working days at the latest. Each PARTY undertakes to do its utmost in order to re-establish conditions favorable for the performance of this Agreement and shall inform the other PARTY about steps it has taken. The term of this Agreement will be
extended by the period the Force Majeure had lasted. 

  
 ARTICLE
9—TERM OF THE AGREEMENT 
  

	9.1	 	This Agreement shall be become effective on the EFFECTIVE DATE and shall continue and remain in effect according to its terms without limitation of time unless terminated in
accordance with Article 9.2 or 9.3. 

  

	9.2	 	This Agreement can be prematurely terminated by agreement of both PARTIES or may be prematurely terminated by SENETEK upon not less than six months’ prior written notice to the
INSTITUTE. 

  

	9.3	 	A PARTY shall have the right to terminate this Agreement forthwith at any time by notice in writing to the other PARTY if the other PARTY commits a material breach of any of the
terms of this Agreement and does not within 30 days of receipt of notice of the breach (if the same be capable of remedy) remedy such breach. 

  

	9.4	 	Termination of this Agreement for any reason shall not bring to an end the confidentiality obligations of the PARTIES hereto; and/or the rights and obligations (if any) on each
PARTY under Articles 5, 6, 7, 10, and 11. 

  
 ARTICLE
10—DISPUTES 
  

	10.1	 	In the event of any difference or dispute arising between the PARTIES hereto concerning the construction or performance of this Agreement or its validity, the

  

 6 

	  	 	PARTIES shall first consult together in good faith and attempt to settle the matter amicably. 

  

	10.2	 	Any disputes relating to the interpretation, construction, performance or validity of this Agreement, which cannot be resolved under Article 10.1 above, shall be referred to a final
decision of a panel of three (3) arbitrators (the “Panel”), appointed under and acting in accordance with the Rules of the Arbitration Court of the International Chamber of Commerce in Paris. The seat of the Arbitration Court shall be in
Vienna. 

  

	10.3	 	The PARTIES specifically agree that if they are unable in good faith to reach agreement as to any details of the license agreement or agreements referred to in Article 3.5 or of the
Joint Patent Agreements referred to in Article 5.2, they shall submit such disagreement to the Panel and request that the Panel determine such disagreement in a manner consistent with ordinary course business practices as applied by reasonable
business persons in the industry to which this Agreement relates. Such determination by the Panel shall be treated as a decision of the Panel for all purposes of this Article 10. 

  

	10.4	 	Both PARTIES agree that the decision of the Panel shall be final and binding and that they shall undertake to abide by and execute the award rendered by the arbitrators without
delay. The enforcement of such an award may be applied for at any court of competent jurisdiction. 

  

	10.5	 	The Agreement as well as the mutual obligations arising under it shall be exclusively governed by the provisions of the substantive law of Austria. 

  
 ARTICLE 11—GENERAL 
  

	11.1	 	This Agreement constitutes the sole and entire understanding either oral or written on the subject matter of the Agreement. No further agreement or understanding shall be binding
upon either PARTY hereto unless in writing signed by both PARTIES. 

  

	11.2	 	This Agreement shall not be assignable by any of the PARTIES hereto, without prior written consent of the other PARTY. 

  

	11.3	 	The time periods provided for herein during which a PARTY is permitted or required to take any action shall be tolled and extended for such period of time, if any, as the other
PARTY is in breach of any term of this Agreement. 

  

	11.4	 	In consideration of the INSTITUTE’s rights pursuant to this Agreement and in particular of SENETEK’s disclosure of confidential information concerning compounds covered by
the SENETEK PATENTS, the INSTITUE, for itself and for any and all of its affiliated entities, hereby irrevocably acknowledges that the SENETEK PATENTS are owned by SENETEK and are in all respects valid and enforceable, relinquishes all rights to
dispute such ownership, validity and enforceability, and covenants not to assert, either affirmatively or defensively, that any of them is not so owned or is invalid or enforceable, in any court or other proceeding or before any patent office or
tribunal whatsoever. 

  

 7 

	11.5	 	In consideration of the SENETEK’s rights pursuant to this Agreement and in particular of INSTITUTE’s disclosure of confidential information concerning COMPOUNDS covered by
the PATENT APPLICATION, SENETEK, for itself and for any and all of its affiliated entities, hereby irrevocably acknowledges that the PATENT APPLICATION is owned by INSTITUTE and is in all respects valid and enforceable, relinquishes all rights to
dispute such ownership, validity and enforceability, and covenants not to assert, either affirmatively or defensively, that any of them is not so owned or is invalid or enforceable, in any court or other proceeding or before any patent office or
tribunal whatsoever. 

  
 IN WITNESS WHEREOF,
the PARTIES hereto have caused this Agreement to be executed by their duly authorized representatives in a manner legally binding upon them as of the day first above written. 
  

	 For INSTITUTE OF EXPERIMENTAL BOTANY
	 	 	 	 For SENETEK PLC

					
	By	 	 	 	 	 	By	 	 
					
	Function	 	 	 	 	 	Function	 	 
					
	Signature	 	 	 	 	 	Signature	 	 
					
	Date	 	 	 	 	 	Date	 	 

  

 8 

 LICENSE AGREEMENT TERM SHEET 
  
 Term of License: The term of the licensed patent(s) or until all claims of such patents have been ruled invalid or
unenforceable by order of a court or patent agency of competent jurisdiction after all time to appeal such order has expired, or until sooner terminated. 
  

	 Licensed Territory: 
	 World-wide. 

  

	 Scope of License: 
	 Exclusive within the fields of medical skin care applications and cosmetic skin care applications. 

  

	 Consideration: 
	 Royalty of        *         of Senetek’s Net Sales of
licensed products other than kinetin- or zeatin- based products, provided that such royalty shall be appropriately reduced for products as to which Senetek’s intellectual property represents a principal basis of the patented invention.

  

	 Minimum Net Sales or Royalty: 
	 An amount, beginning in the second full year after product launch, equal
to        *         of the royalty that would have been due on the preceding year’s Net Sales; Senetek shall be entitled to cure non-achievement of minimum royalty
by lump sum payment of the short-fall. 

  

	 Sub-licensing/Assignment: 
	 No limitation 

  

	 Senetek Covenants: 
	 Validity and enforceability of License 

	 	 Compliance with law in performing License 

  

	 Institute Covenants: 
	 Validity and enforceability of License 

	 	 Maintenance and defense of licensed patents 

  

	 Indemnification: 
	 By Senetek for liability from any non-compliance with law in manufacture, marketing or sale of licensed products. 

  

	 	 By the Institute for invalidity or unenforceability of licensed patents up to the value of payments received from SENETEK in preceding calendar
year. 

  

	 Termination: 
	 By either Party for material breach by the other Party or insolvency or liquidation of the other Party. 

  

	 Confidentiality: 
	 Per basic Agreement 

	 	 Agreed press release upon signing 

  

	 Applicable Law: 
	 Per basic Agreement. 

  
 * Confidential treatment has been requested for these terms. 
  

 9

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