Document:

EXHIBIT 10.1 

CONFIDENTIAL TREATMENT HAS BEEN
REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE
INFORMATION SUBJECT TO THE CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED AS
*. A COMPLETE, UNREDACTED VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH
THE SECURITIES AND EXCHANGE COMMISSION.

 

 

 

 

EXCLUSIVE LICENSE AND ALLIANCE
AGREEMENT

by and between

GE HEALTHCARE UK
LIMITED

and

GERON CORPORATION 

 

 

 

 

 

 

TABLE OF CONTENTS 

	1.	      	DEFINITIONS	3
	2.		ALLIANCE
      PROGRAM	9
	3.		LICENSE GRANTS	11
	4.		DILIGENCE;
      DEVELOPMENT REPORTS	14
	5.		PAYMENTS; ROYALTIES AND ROYALTY REPORTS	16
	6.		CONFIDENTIALITY AND PUBLICATION	21
	7.		REPRESENTATIONS AND WARRANTIES; COVENANTS  	22
	8.		INDEMNIFICATION; INSURANCE	24
	9.		PATENT PROVISIONS	25
	10.		TERM AND
      TERMINATION	31
	11.	 	MISCELLANEOUS	33 
	12.		SCHEDULES	39

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EXCLUSIVE LICENSE AND ALLIANCE
AGREEMENT 

     THIS
AGREEMENT, effective as of June 29, 2009, the “Effective Date”, by and between
GE HEALTHCARE UK LIMITED an English corporation having its principal place of business
at Amersham Place, Little Chalfont, Buckinghamshire, HP7 9NA UK (“GEHC”) and
GERON CORPORATION, a corporation organized and existing under the laws of Delaware having
its principal place of business at 230 Constitution Drive, Menlo Park, CA 94025,
USA (“Geron”). 

RECITALS: 

     WHEREAS, Geron has expertise and access to certain intellectual
property rights related to the propagation and differentiation of human
embryonic derived cells; 

     WHEREAS, GEHC has expertise and access to intellectual property
rights related to cell manufacturing, and is involved in the manufacture,
marketing, sales, and distribution of products used as research tools;

    
WHEREAS, Geron has
licensed from the Wisconsin Alumni Research Foundation certain patent rights and
other intellectual property relating to human embryonic stem cells and is
willing to grant GEHC a sublicense under such patent rights under a separate
patent sublicense agreement for the development and commercialization by GEHC of
cellular assay products derived from human embryonic stem cells for use in
in-vitro assays;

     WHEREAS, GEHC and Geron desire to
enter into an exclusive license and alliance agreement to develop and
commercialize cellular assay products derived from human embryonic stem cells
for use in in-vitro assays upon the terms and conditions set forth herein; and

     NOW,
THEREFORE, in consideration of the
foregoing premises and the mutual covenants herein contained, the Parties hereby
agree as follows: 

	1.	DEFINITIONS
	  
	              
      	
      Unless specifically set forth to
      the contrary herein, the following terms, whether used in the singular or
      plural, shall have the respective meanings set forth
  below:

	  
	1.1	
      “Affiliate” means any individual,
      corporation, association or other business entity which directly or
      indirectly controls, is controlled by or is under common control with the
      Party in question. As used in this definition of “Affiliate,” the term
      “control” means the direct or indirect ownership of fifty percent (50%) or
      more of the stock having the right to vote for directors thereof or the
      ability to otherwise control the management of the corporation or other
      business entity whether through the ownership of voting securities, by
      contract, resolution, regulation or otherwise; provided, however, that the term
      “Affiliate” shall not include subsidiaries or other entities in which a
      Party or its Affiliates owns a majority of the ordinary voting power
      necessary to elect a majority of the board of directors or other governing
      body, but is restricted from electing such majority by contract or
      otherwise until the time such restrictions are no longer in
      effect.

	  
	1.2	
      “Alliance
      Invention” shall mean any process,
      method, composition of matter, article of manufacture, discovery or
      finding that is conceived and/or reduced to practice during and as a
      result of the Alliance Program and “Invent” shall mean the act of
      conception and/or reduction to practice of such Invention. Alliance
      Inventions shall be summarized in the Final Report specified in Section
      2.9.

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	1.3	
      “Alliance
      Know-How” shall mean any information
      and materials, including but not limited to discoveries, improvements,
      processes, methods, protocols, formulas, data, inventions, know-how and
      trade secrets, patentable or otherwise, which arise during and as a result
      of the Alliance Program, (i) are conceived, developed, or reduced to
      practice solely by a Party or jointly by the Parties and, (ii) are not
      generally known and (iii) are owned by a Party or jointly by the Parties.
      For the avoidance of doubt, Alliance Know-How shall exclude Geron Know-How
      and GEHC Know-How. Alliance Know-How shall be summarized in the Final
      Report specified in Section 2.9. 

	              
      	
	1.4	
      “Alliance Patent
      Rights” shall mean all Patent Rights
      covering Inventions arising from the Alliance Program. All Alliance Patent
      Rights shall be summarized in the Final Report specified in Section
      2.9.

	 
	1.5	
      “Alliance
      Program” shall mean the product
      development activities undertaken by the Parties hereto under the Alliance
      Workplan as set forth in Schedule 2.2.

	 
	1.6	
      “Alliance Program Initiation
      Date” shall mean July 1,
      2009.

	 
	1.7	
      “Alliance Program Term” shall
      have the meaning provided in Section 2.3.

	 
	1.8	
      “Alliance Steering Committee”
      or “ASC” shall mean the committee, as
      more fully described in Section 2.6.

	 
	1.9	
      “Calendar Half” shall mean the
      respective periods of six (6) consecutive calendar months ending on June
      30 and December 31.

	 
	1.10	
      “Calendar Year” shall mean each
      successive period of twelve (12) months commencing on January 1 and ending
      on December 31.

	 
	1.11	
      “Cellular Assay Products
      Field” shall mean the use of Cellular
      Assay Products for in vitro assay applications, including but not limited
      to drug discovery and development, drug monitoring, drug toxicology
      testing, and consumer products testing, but excluding the use of any
      Cellular Assay Product in any therapeutic or diagnostic
      application.

	 
	1.12	
      “Cellular Assay Product”
      shall mean, collectively, Patent
      Products and Know-How Products.

	 
	1.13	
      “Commercially Reasonable
      Efforts” shall mean, (a) with respect
      to the efforts to be expended by a Party to accomplish a particular
      objective, the good-faith and diligent efforts that such Party would
      normally use to accomplish a similar objective under similar
      circumstances, and (b) with respect to the research, development or
      commercialization of a Cellular Assay Product, such efforts as are
      substantially equivalent to those efforts and resources commonly used by
      GEHC for a comparable product, taking into account commercially relevant
      factors such as (as applicable) stage of development, product life, market
      potential and regulatory issues.

	 
	1.14	
      “Development Report”
      shall mean a written report, as
      specified in Section 4.4, containing the following elements: (a) a summary
      of Cellular Assay Products and services related thereto being developed by
      GEHC and (b) a summary of Cellular Assay Products and services related
      thereto which have been developed by GEHC, their existing markets, their
      potential markets, and any future development work opportunities to
      enhance their performance.

	 
	1.15	
      “Effective Date”
      shall mean the date set forth in the
      first paragraph of this Agreement.

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	1.16	“First Commercial Sale” shall mean, with respect to any Cellular Assay Product, the first
      sale in an arms length transaction to a Third Party for end use or
      consumption of such Cellular Assay Product in the Territory. 
	              
      	
	1.17	“GEHC Alliance IP
      Rights” shall have the meaning set
      forth in Section 9.1.
	 
	1.18	“GEHC Development
      Partner” shall mean a person or
      organization with which GEHC enters into a written collaborative
      agreement, including the sublicensing of Geron patents, for the research
      or development of products in the Cellular Assay Products Field. For the
      avoidance of doubt, a GEHC Development Partner shall not have rights to
      market or sell products in the Cellular Assay Products Field.
	 
	1.19	“GEHC Know-How” shall
      mean any information and materials, including, but not limited to,
      discoveries, improvements, processes, methods, protocols, formulas, data,
      inventions, know-how and trade secrets, patentable or otherwise, which
      during the term of this Agreement, (i) are owned or controlled by GEHC or
      its Affiliates, (ii) are not generally known and (iii) are mutually agreed
      by the Parties to be necessary or useful to Geron in the performance of
      its obligations under the Alliance Program, excluding, however, any
      Alliance Patent Rights and Alliance Know-How.
	 
	1.20	“Geron Alliance IP Rights” shall have the meaning set forth in Section 9.1.
	 
	1.21	“Geron Background Patent Rights” shall mean the Patent Rights identified in Schedule
      1.21.
	 
	1.22	“Geron Development
      Partner” shall mean a person or
      organization with which Geron enters into a written collaborative
      agreement, including the licensing of Geron patents, for the research,
      development or commercialization of products in the Geron Field, but not
      the Cellular Assay Products Field.
	 
	1.23	“Geron Field” shall
      mean therapies that comprise, or are derived from, or developed or
      manufactured using, human embryonic stem cells.
	 
	1.24	“Geron Future Patent Rights” shall mean any and all Patent Rights in the Territory which arise
      after the Effective Date and which (a) are owned by, or are assigned to,
      Geron or those Affiliates that Geron controls; (b) are reasonably
      necessary for the development of products under this Agreement; and (c)
      for which Geron has the unencumbered right to license to GEHC (meaning the
      legal right to license to GEHC without the payment of consideration to a
      Third Party). Geron Future Patent Rights shall exclude Alliance Patent
      Rights. Geron shall list Geron Future Patent Rights on a Schedule 1.24,
      which Schedule shall be updated on an annual basis.
	 
	1.25	“Geron Know-How” shall
      mean all information and materials which are provided by Geron to GEHC in
      connection with this Agreement, other than Geron Background Patent Rights
      and Geron Future Patent Rights, including but not limited to discoveries,
      improvements, processes, methods, protocols, formulas, data, inventions,
      know-how and trade secrets, patentable or otherwise, which during the term
      of this Agreement (i) are owned or controlled by Geron or its Affiliates,
      (ii) are not generally known, and (iii) relate to human embryonic stem
      cells or are otherwise mutually agreed by the Parties to be necessary or
      useful to GEHC in the Cellular Assay Products Field, and the research,
      development, manufacture, marketing, use or sale of Cellular Assay
      Products. As of the Effective Date, the categories of Geron Know-How that
      the parties reasonably anticipate will be conveyed to accomplish the
      Alliance Program are set forth in the Alliance
  Workplan.

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	1.26	“Information” shall
      mean any and all information and data, including, without limitation, all
      GEHC Know-How, Geron Know-How, Alliance Program Know-How and all other
      scientific, pre-clinical, clinical, regulatory, manufacturing, marketing,
      financial and commercial information or data, whether communicated in
      writing or orally or by any other method, which is provided by one Party
      to the other Party in connection with this Agreement.
	              
      	
	1.27	“Infringement
      Notice” shall mean a written notice
      delivered by GEHC to Geron in which GEHC certifies to Geron that it has a
      good faith belief based on a reasonable analysis of the available
      evidence, where such analysis may be made through a claim chart, that a
      Third Party is offering for sale a product or service in the Cellular
      Assay Products Field that infringes the Geron Background Patent Rights or
      Geron Future Patent Rights and further containing a request by GEHC to
      Geron to take legal action on the potential infringement.
	 
	1.28	“Joint Alliance IP Rights” shall have the meaning set forth under Section 9.1. For the
      avoidance of doubt, Joint Alliance IP Rights shall include Joint Alliance
      Patent Rights and Joint Alliance Know-How.
	 
	1.29	“Know-How Product”
      shall mean products or services that
      (1) contain cells that comprise, or are derived from or manufactured
      using, human embryonic stem cells; and either (2) are developed in or
      otherwise arise, directly from the Alliance Program or (3) are developed
      or manufactured using Geron Know-How provided by Geron to GEHC in
      connection with this Agreement. For the avoidance of doubt, Know How
      Product does not include products or services that contain cells that
      comprise, or are derived from or manufactured using, human induced
      pluripotent stem cells.
	 
	1.30	“Limited Field” shall
      mean products or services that contain cells that comprise, or are derived
      from, or manufactured using, human embryonic stem cells (and not human
      induced pluripotent stem cells) in markets outside of the Geron Field and
      the Cellular Assay Products Field.
	 
	1.31	“Net Sales” shall mean
      the gross invoice price of Cellular Assay Product sold by GEHC to the
      first Third Party after deducting, if not previously deducted, from the
      amount invoiced or received:
	 
	 	(a) ordinary and
      customary trade and quantity discounts actually granted by GEHC, other
      than early pay cash discounts;
	 
	 	(b) returns, rebates
      and chargebacks;
	 
	 	(c) retroactive price
      reductions that are actually granted;
	 
	 	(d) a fixed amount
      equal to * percent (* %) of the amount invoiced to cover bad debt, sales
      or excise taxes, early payment cash discounts, transportation and
      insurance, custom duties, and other governmental charges; and
	 
	 	(e) indirect taxes
      such as Value Added Tax and similar goods & service taxes, excluding
      sales & excise taxes and duties as covered by (d)
  above.

____________________

*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

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      In the event that a Cellular
      Assay Product is sold in combination with a second, discrete product or
      service or incorporated in another product or service (jointly referred to
      as a “Combination Product”), then GEHC shall make an adjustment to the
      calculation of Net Sales to account for the fair value of the Cellular
      Assay Product in proportion to the invoice price of the Combination
      Product. The adjustment shall be based on the following principles:
      

		 
		(i) If the Cellular Assay Product and the second discrete
      product (or the other component(s) in the Combination Product) are sold as
      standalone items by GEHC, then the proportion shall be based on the list
      price of the Cellular Assay Product and the list price of the second,
      discrete product (or the other component(s) in the Combination
      Product).
		 
		(ii) If the Cellular Assay Product and the second discrete
      product (or the other component(s) in the Combination Product) are not
      sold as standalone items by GEHC, then the proportion shall be based on
      the standard production cost for the Cellular Assay Product in relation to
      the standard production cost for the second, discrete product (or other
      component(s) included in the Combination Product).
		  
		(iii) If the Cellular Assay Product is incorporated as part of
      a service sold by GEHC, the list price of the Cellular Assay Product
      employed in the provision of the service shall be used in the calculation
      of Net Sales.

     The
following examples illustrate in a non-exhaustive manner, the parties’
intentions with respect to Combination Products. 

	                             
      	(a)
      The sale by GEHC of a Cellular Assay
      Product in a kit along with a second cell type that is not a Cellular
      Assay Product is an example of a Combination Product;
		  
		(b)
      The provision of a service by GEHC in which
      test compounds are assayed by GEHC using Cellular Assay Products is an
      example of a Combination Product;
		 
		(c)
      The mere inclusion in a Cellular Assay
      Product of materials that are routinely provided with cells for use in
      assays such as vials or plates for packaging or media for maintenance of
      the cells shall by itself not qualify the Cellular Assay Product as a
      Combination Product;
		 
		(d)
      The incorporation of a technology licensed
      from a Third Party as an integral part of a Cellular Assay Product shall
      by itself not qualify the Cellular Assay Product as a Combination Product
      (but an adjustment to the applicable royalty rate may be available as
      provided in Section 5.2.2(b)).

     For each
Combination Product that GEHC places on the market, it shall propose an
adjustment based on the above principles to be applied for royalty calculation
purposes as long as GEHC has any obligations to make royalty payments on that
Combination Product (a “Royalty Adjustment Proposal”). The Royalty Adjustment
Proposal shall be made in connection with the first royalty report following the
launch by GEHC of each Combination Product and shall be clearly marked as a
“Proposal for Royalty Adjustment for a Combination Product”. Geron shall have
the right to request additional information from GEHC regarding the basis for
the Royalty Adjustment Proposal within thirty (30) days and GEHC shall provide a
written response providing such additional information or stating such
information does not exist. Geron shall have sixty (60) days from the later of
receipt of the Royalty Adjustment Proposal or receipt of additional information
(if requested by Geron) to object to the Royalty Adjustment Proposal otherwise
it shall be deemed accepted by Geron. If Geron objects in writing within said
time period then the parties shall negotiate in good faith to reach an agreement
on the royalty adjustment. If the parties are unable to reach agreement within
sixty (60) days, then each party may refer this issue for final resolution to
arbitration in accordance with Section 11.8 below. 

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     A
Cellular Assay Product shall be deemed sold, leased, or transferred at the time
GEHC receives payment for such Cellular Assay Product. 

     Cellular
Assay Products used in testing or as marketing samples to develop or promote the
Cellular Assay Product(s) shall not be included as Cellular Assay Product(s)
used, sold, leased, or transferred under the definition of Net Sales; provided
the Cellular Assay Products are supplied to the user at no cost. 

	1.32	“Party” shall mean
      GEHC and Geron, individually, and “Parties” shall mean GEHC and
      Geron, collectively. 
	               	
	1.33	“Patent Product” shall
      mean products or services that (1) contain cells that comprise, or are
      derived from, or manufactured using, human embryonic stem cells and (2)
      the development, manufacture, sale or use of which would, but for the
      license rights granted herein, infringe one or more Valid Patent Claims.
      The classification of whether a Cellular Assay Product is a Patent Product
      shall be made upon the First Commercial Sale of the Cellular Assay Product
      and cannot be changed as the result of an action (such as the change of
      the site of manufacture) taken by GEHC. For the avoidance of doubt, Patent
      Product does not include products or services that contain cells that
      comprise, or are derived from or manufactured using, human induced
      pluripotent stem cells.
	 
	1.34	“Patent Rights” shall
      mean those patents and patent applications in the Territory (which for the
      purposes of this Agreement shall be deemed to include certificates of
      invention and applications for certificates of invention) and any
      divisions, continuations, continuations-in-part, reissues, reexaminations,
      registrations, renewals, substitutions, and supplementary protection
      certificates based thereon and other governmental actions that extend any
      of the patents and patent applications, and any and all equivalents, U.S.
      and foreign, to any of the foregoing that relate to human embryonic stem
      cells and cells differentiated therefrom.
	 
	1.35	“Territory” shall mean
      all of the countries in the world, and their territories and
      possessions.
	 
	1.36	“Third Party” shall
      mean an entity other than GEHC and Geron.
	 
	1.37	“U.S.” shall mean the
      United States of America, its territories and possessions, including but
      not limited to the Commonwealth of Puerto Rico.
	 
	1.38	“Valid Patent Claim”
      shall mean a claim of an issued and unexpired patent included within the
      Geron Background Patent Rights, Geron Future Patent Rights, Geron Alliance
      IP Rights or Joint Alliance IP Rights, which claim has not been revoked or
      held unenforceable or invalid by a decision of a court or other
      governmental agency of competent jurisdiction (which decision is not
      appealable or has not been appealed within the time allowed for appeal),
      and which claim has not been disclaimed, denied or admitted to be invalid
      or unenforceable through reissue, re-examination or disclaimer or
      otherwise as of the date of sale of a Patent Product.
	 
	1.39	“WARF Patent Sublicense Agreement” shall mean the Patent Sublicense Agreement entered
      into by Geron and GEHC on June 29, 2009.

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	2.	ALLIANCE
      PROGRAM
	              
      	
	2.1	Alliance Program Objectives Geron and GEHC shall engage in an Alliance Program to further the
      development and commercialization of Cellular Assay Products upon the
      terms and conditions set forth in this Section. The Alliance Program shall
      focus on research and development of Cellular Assay Products and shall be
      part of GEHC’s diligent development of such products. All activities
      beyond product launch, including manufacturing, sales and promotional
      activities shall be conducted solely by GEHC. 
	 
	2.2	Alliance Workplan The
      activities to be undertaken in the Alliance Program, including FTE
      utilization, timelines, product development plans and the responsibilities
      of each Party, shall be specified in an Alliance Workplan, which shall be
      updated at least annually and shall include a product development plan
      that identifies all currently planned Cellular Assay Products and
      approximate timelines and resources required for development and
      commercialization of such Cellular Assay Products. The first Alliance
      Workplan is attached hereto as Schedule 2.2.
	 
	2.3	Term
      of the Alliance Program The
      Alliance Program Term shall be * (*) years from the Alliance Program
      Initiation Date. Any renewal or extension of the Alliance Program Term
      thereafter shall be at GEHC’s election and subject to agreement of terms
      between the Parties. For avoidance of doubt, neither Party shall be under
      any obligation to renew or extend the Alliance Program.
	 
	2.4	Funding of the Alliance Program GEHC will be responsible for all costs incurred by GEHC in the
      performance of the Alliance Program. GEHC shall pay the full cost of
      Alliance Workplan activities undertaken at Geron for the Alliance Program
      Term, including FTE costs, materials and supplies as set out in this
      Section 2.4. The parties have agreed that GEHC shall pay to Geron the
      following amounts in consideration of activities to be undertaken by Geron
      during the Alliance Program Term:
	 
	 	(i)
      A total of $ * USD to be paid in amounts of
      $ * USD on a quarterly basis within 30 days of the end of each three-month
      period, the first payment to be payable within 30 days of the Alliance
      Program Initiation Date; and
	  
	 	(ii)
      A total of $ * USD to be paid in amounts of
      $ * USD on a quarterly basis within 30 days of the end of each three-month
      period, the first payment to be payable within 30 days of the *
      anniversary of the Alliance Program Initiation Date.
	 
	 	These
      payments shall be non-refundable. In the event of termination under
      Section 10.2, the payment under Sections 2.4(i) shall be immediately due
      and payable.
	 
	 	While the
      Parties have agreed these amounts in good faith as sufficient to cover the
      projected costs of the aspects of the Alliance Workplan to be performed by
      Geron (except as specified in the Alliance Workplan), the Parties agree
      that amendments to the Alliance Workplan which would impose significant
      and material additional costs on Geron will only be made with Geron’s
      prior consent and upon condition that any cost increases to Geron are
      covered by the payments from GEHC.

____________________

*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

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		(a) Funded Employees Geron
      has identified in the Alliance Workplan * (*) Geron employees, *, * and *,
      whose work shall be fully funded by GEHC. These designated employees shall
      be hired during the Alliance Program and shall work only on Alliance
      Program activities. The names of the employees shall be identified to GEHC
      as soon as they are hired and these employees shall be fully available for
      interaction with GEHC counterparts and for transfer of technology to GEHC.
      In addition to the designated employees, Geron has also identified
      existing Geron employees, *, *, and *, who will be “loaned” to the
      Alliance Program for performance of functions and for the time periods
      identified in the Alliance Workplan. After completion of the term of the
      Alliance Program (subject to any agreed extensions) and provided that this
      Agreement is still in force, Geron shall not prohibit GEHC from recruiting
      or hiring the employees designated as *, * and *.
	 
		(b) Cell Banks The parties
      acknowledge that the good faith cost estimates set out in Schedule 2.4(b)
      attached hereto for the generation of cell banks in the Alliance Workplan
      are not covered by the funding specified in Section 2.4(i) and (ii) and
      are separate costs to be paid by GEHC to Geron, subject to GEHC’s prior
      written approval, if GEHC requests the generation of such cell
      banks.
	 
	2.5	Limitation of Geron
      Obligations GEHC acknowledges that
      Geron’s ability and obligation to participate in the Alliance Program is
      limited to the resources funded by GEHC under this Article 2.

	              
      	
	2.6	Alliance Program
      Governance The Parties hereby
      establish an Alliance Steering Committee (the “ASC”) to oversee, manage,
      and review the performance of the Alliance Program and to develop future
      Alliance Workplans. Each of the Parties shall bear its own costs incurred
      in connection with the ASC. In the event that the performance by either
      Party of the activities to be carried out by such party under the Alliance
      Workplan is unexpectedly impacted or delayed for reasons other than
      reasons relating to scientific and/or technical issues and/or regulatory
      issues (“ Administrative Reasons”), such as the ability to procure
      appropriate resources, the Parties agree to raise such issue at an ASC
      meeting. The Party whose performance is impacted or delayed by these
      Administrative Reasons shall be fully responsible for any additional costs
      incurred under the Alliance Workplan as a result of such delay, unless the
      impact or delay is caused by the other party.
	 
		(a) Composition of the ASC The ASC
      shall comprise * representatives of GEHC and * representatives of Geron.
      Each Party may change its representatives to the ASC from time to time, in
      its sole discretion, effective upon written notice to the other Party of
      such change. These representatives shall have appropriate technical
      credentials, experience and knowledge, and ongoing familiarity with the
      Alliance Program. Additional representatives or consultants may from time
      to time, by mutual consent of the Parties, be invited to attend ASC
      meetings. The ASC shall be chaired by a representative of GEHC and meeting
      minutes shall be recorded by or on behalf of the chairperson. The
      chairperson shall provide written minutes of each ASC meeting to Geron
      within 10 days of date of the meeting.

____________________

*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

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		(b) Meeting Frequency The
      ASC shall meet at least quarterly either in person or by telephone or
      video conference to review performance of the Alliance Program and adjust
      workplan objectives or timelines appropriately. Prior to the ASC meetings,
      the Parties shall exchange written summaries of the matters to be
      presented to the ASC. Any Information exchanged at ASC meetings shall be
      appropriately documented.
	 
		(c) ASC Decisions The
      members of the ASC shall strive to reach unanimous decisions. With the
      exception specified for budget matters in Section 2.4, in the event that
      the ASC cannot or does not, after good faith efforts, reach unanimous
      agreement on an issue, the resolution and/or course of conduct shall be
      determined by the chairperson of the ASC, in his/her sole discretion,
      provided that Geron shall have the right to raise issues of substance to
      the appropriate executive manager of GEHC Life Sciences Division if not in
      agreement with a decision made by the chairperson.
	 
	2.7	License to
      Geron GEHC hereby grants to Geron a
      fully-paid up, non-exclusive, non-sublicensable license under GEHC
      Know-How solely for the purpose of performing the Alliance Program and
      Alliance Workplan.
	              
      	
	2.8	Records and
      Reports The Parties shall maintain
      records of activities under the Alliance Program, in sufficient detail and
      in good scientific manner appropriate for patent and regulatory purposes,
      which shall fully and properly reflect all work done and results achieved.
      The content of such records shall be made accessible for review by either
      party.
	 
	2.9	Final Report
      The Parties shall jointly create a
      written summary of all the work done and results achieved under the
      Alliance Program, including but not limited to, an agreed list of all of
      the Alliance Know-How and Alliance Patent Rights classified by ownership
      as Geron Alliance IP Rights, GEHC Alliance IP Rights and Joint Alliance IP
      Rights as further set out in Section 9.1 that will be used to consider
      option exercises by each party, due sixty (60) days after the end of the
      Alliance Program.
	  
	2.10	Technical
      Support After the end of the
      Alliance Program and up until GEHC’s royalty obligations hereunder
      terminate, Geron agrees to provide GEHC reasonable access to Geron by
      e-mail or telephone to respond to GEHC’s queries concerning the Geron
      Background Patent Rights, Geron Future Patent Rights, Geron Alliance IP
      Rights, Geron’s interest in Joint Alliance IP Rights and Geron Know-How
      that relate to the Cellular Assay Products. Such access shall be subject
      to the availability of appropriate Geron personnel, and GEHC recognizes
      that Geron will need to give priority to Geron development work. To a
      reasonable extent such support will be provided free of charge. If Geron
      wishes to charge GEHC for additional support services written agreement
      shall be made in advance on a case-by-case basis. For the avoidance of
      doubt, Geron employees funded by GEHC under the Alliance Program shall be
      available to GEHC as specified in Section 2.4(a).
	 
	3.	LICENSE
    GRANTS
	 
	3.1	License and
      Option Grants to GEHC
	 
	3.1.1	Exclusive
      Licenses Geron hereby grants to
      GEHC and its Affiliates an exclusive license under Geron Background Patent
      Rights, Geron Future Patent Rights, Geron Alliance IP Rights, Geron’s
      interest in Joint Alliance IP Rights, and Geron Know-How to develop, have
      developed, make, have made, use, sell, have sold, and import Cellular
      Assay Products throughout the Territory in the Cellular Assay Products
      Field. The license granted in this Section 3.1.1 shall not be
      sublicensable by GEHC without Geron’s written consent, which will not be
      unreasonably withheld. Notwithstanding the above, GEHC shall have the
      right to pass on to GEHC Development Partners and GEHC customers the right
      to use Cellular Assay Products in the Cellular Assay Products
    Field.

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	3.1.2	Non-Exclusive
      License Geron hereby grants to GEHC
      and its Affiliates (i) a non-exclusive non-royalty bearing, irrevocable
      fully paid-up license under Geron’s Alliance IP Rights, Geron’s interest
      in Joint Alliance IP Rights and Geron Know-How to develop, make, use,
      sell, have sold, and import products throughout the relevant territories
      in the Limited Field and (ii) a non-exclusive non-royalty bearing,
      irrevocable fully paid-up license under Geron’s Alliance IP Rights and
      Geron’s interest in Joint Alliance IP Rights to develop, have developed,
      make, have made, use, sell, have sold, and import products throughout the
      relevant territories in the Limited Field. The license granted in this
      Section 3.1.2 shall not be sublicensable by GEHC without Geron’s written
      consent. Notwithstanding the above, GEHC shall have the right to pass on
      to GEHC customers the right to use products in the Limited
  Field.
	              
      	  
	3.1.3	Option Geron hereby grants to GEHC an option to negotiate in
      good faith and on commercially reasonable terms:
	 
		(a) an exclusive, payable
      license, with the right to sublicense for the Limited Field under Geron
      Alliance IP Rights, and Geron’s interest in Joint Alliance IP Rights.
      GEHC’s right to exercise this option shall expire * (*) days after the
      receipt of the Final Report, specified in Section 2.9, by both Parties,
      unless otherwise agreed by the Parties. GEHC shall be entitled to exercise
      the option by providing written notice to Geron at any time prior to
      expiration of the option. The parties shall execute a binding term sheet
      for such option within * (*) days of such notice (or such time as mutually
      agreed upon by the parties) or GEHC’s option right shall expire
    and;
	  
		(b) a sub-license for the
      Cellular Assay Products Field in the Territory to *. GEHC may exercise
      this option at any time by providing written notice to Geron.
	 
	3.1.4	Right of First
      Negotiation GEHC shall have a right
      to negotiate to expand the definition of Patent Products and Know-How
      Products under this Agreement to include *. Such right shall operate as
      follows:
	 
		(a) GEHC may provide a written
      request to Geron to expand such definition and thereafter the Parties
      shall negotiate in good faith commercially reasonable terms with respect
      thereto. The Parties shall execute a binding term sheet for such expanded
      definition within * (*) days of such request (or such time as mutually
      agreed upon by the parties) or GEHC’s right of first negotiation shall
      expire.
	 
		(b) Geron shall provide GEHC
      written notice prior to initiating any activity (including, but not
      limited to, the granting of licenses to a Third Party) that would conflict
      with GEHC’s right of negotiation hereunder. Within * (*) days of such
      notice, GEHC may elect to provide Geron with the notice specified in
      Section 3.1.4(a) and thereafter, the Parties shall commence negotiations
      as set forth in Section 3.1.4(a). If Geron does not receive such notice
      within * (*) days, GEHC’s right of first negotiation shall
    expire.

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	3.1.5	Retained
      Rights Notwithstanding the
      exclusive license granted in Section 3.1.1, nothing herein shall preclude
      either party from engaging in any research or development relating to
      human embryonic stem cells internally or with a Third Party.
	              
    	
	3.2	License and
      Option Grants to Geron
	 
	3.2.1	Non-Exclusive
      License GEHC hereby grants to Geron
      a non-exclusive non-royalty bearing, irrevocable fully paid-up license
      under GEHC Alliance IP Rights to develop, make, have made, use, sell, have
      sold, and import products throughout the relevant territories in the Geron
      Field. The non-exclusive license granted in this Section 3.2.1 shall be
      sublicensable only to Geron Development Partners, in which event such
      sublicense will only remain in force whilst the sublicense is a Geron
      Development Partner. Geron shall notify GEHC within thirty (30) days of
      execution of the sublicense of the identity of the Geron Development
      Partner(s). Geron shall deliver to GEHC a copy of such sublicense upon
      execution and a copy of any subsequent amendment, within thirty (30) days
      of its execution. However, Geron may redact from such sublicense
      agreements any Confidential Information.
	 
	3.2.2	Option
      GEHC hereby grants to Geron an option
      to negotiate in good faith and on commercially reasonable terms an
      exclusive, payable license in the Geron Field under GEHC Alliance IP
      Rights and GEHC’s interest in Joint Alliance IP Rights. Geron’s right to
      exercise this option shall expire * (*) days after the termination or
      expiration of the Alliance Program, unless otherwise agreed by the Parties
      Geron shall be entitled to exercise the option by providing written notice
      to GEHC at any time prior to expiration of the option. The parties shall
      execute a binding term sheet for such option within * (*) days of such
      notice (or such time as mutually agreed upon by the parties) or Geron’s
      option right shall expire.
	 
	3.2.3 
          	No Implied
      Licenses Each Party retains all
      rights not explicitly granted in this Article 3. Neither Party shall
      obtain any license or other intellectual property interest in, to, or
      under any Information or Patent Rights of the other Party, by implication
      or otherwise, except as expressly set forth in this Article
      3.

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	3.3	Bankruptcy
	              
    	
	3.3.1	All licenses granted
      under or pursuant to this Agreement by the granting Party to the receiving
      Party are, and shall otherwise be deemed to be, for purposes of Section
      365(n) of the Bankruptcy Code (the “Code”), licenses of rights to
      “intellectual property” as defined under Section 101(35A) of the Code. The
      Parties agree that the receiving Party, as a licensee of such rights under
      this Agreement, shall retain and may fully exercise all of its rights and
      elections under the Code, and that upon commencement of a bankruptcy
      proceeding by or against the granting Party under the Code, the receiving
      Party shall be entitled, to the extent necessary for the receiving Party
      to continue to preserve its license rights under this Agreement, to a
      complete duplicate of any such intellectual property and all embodiments
      of such intellectual property. Such intellectual property and all
      embodiments thereof shall be promptly delivered to the receiving Party (i)
      upon any such commencement of a bankruptcy proceeding upon written request
      therefor by receiving Party, unless the granting Party elects to continue
      to perform all of its obligations under this Agreement or (ii) if not
      delivered under (i) above, upon the rejection of this Agreement by or on
      behalf of the granting Party upon written request therefor by the
      receiving Party. The foregoing provisions of this Section 3.3 are without
      prejudice to any rights the receiving Party may have arising under the
      Code or other applicable law.
	 
	4.	DILIGENCE; DEVELOPMENT
      REPORTS
	 
	4.1	Generally
      GEHC shall use Commercially Reasonable
      Efforts to develop and commercialize Cellular Assay Products for use in
      the Cellular Assay Products Field. The Parties’ reasonable expectation at
      the outset of this Agreement, consistent with the Alliance Workplan
      attached as Schedule 2.2, is that at least * Cellular Assay Products will
      be commercialized within * (*) years of the Effective Date.
	 
	4.2	During the
      Alliance Program GEHC and Geron
      shall perform their respective obligations under the Alliance Workplan in
      Schedule 2.2. Geron agrees to carry out the activities specified in
      Schedule 2.2, including, but not limited to, the transfer to GEHC of all
      Geron Know-How, in a professional and workmanlike manner by personnel with
      appropriate skills and qualifications. For so long GEHC performs its
      obligations under the Alliance Workplan, including without limitation,
      funding Alliance Workplan activities at Geron and GEHC at or above the
      levels specified in Section 2.4, the Parties agree that the Commercially
      Reasonable Efforts standard will be satisfied, and that written ASC
      meeting minutes provided by the chairperson to Geron shall constitute
      appropriate written Development Reports. Geron and GEHC recognize that the
      Alliance Workplan is dependent on scientific and technical progress, the
      nature of which is uncertain. Consequently, neither Party shall be held to
      be in material breach of this Agreement on account of scientific and/or
      technical issues and/or regulatory issues that cause delays in the
      Alliance Workplan.

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	4.3	After
      the Alliance Program
	 
	4.3.1	Business Plans
	              
    	
	 	(a) Within
      sixty (60) days of the date of expiration of the Alliance Program
      according to Section 2.3 (subject to any agreed extension or renewal
      agreed by the Parties), GEHC shall provide Geron with a written business
      plan that reflects customary and commercially appropriate plans to
      commercialize Cellular Assay Products (an “Initial Business
      Plan”). The Parties agree that the Initial Business Plan should
      include, for all Cellular Assay Products then marketed by GEHC or proposed
      to be developed and marketed: (1) a description of the Cellular Assay
      Product, including the proposed application or uses thereof; (2) GEHC’s
      specific development and commercialization plans with respect to such
      Cellular Assay Product; (3) proposed approximate timelines and resources
      required for development and commercialization of such Cellular Assay
      Product; and (4) a proposed marketing strategy for such Cellular Assay
      Product. Geron shall have sixty (60) days to object, in writing, to the
      reasonableness of the Initial Business Plan. Any objection raised by Geron
      not addressed to Geron’s reasonable satisfaction by GEHC shall be elevated
      to a discussion between senior executives of the Parties.
	 
	 	(b) During the period of time from the submission of the
      Initial Business Plan up until (i) the milestone payment due under
      Section 5.1.3 (b) of this Agreement has been paid or (ii) Geron requests
      GEHC to make said milestone payment under Section 10.5 (c) of this
      Agreement, whichever is the earliest, Geron may request (no more than once
      a year) and GEHC shall submit to Geron an updated Business Plan (an
      “Updated Business Plan”) and in the intervening periods GEHC may make
      reasonable modifications to the then-current Business Plan to reflect any
      significant changes required and shall submit such modifications to Geron
      in writing with an explanation of the reasons underlying any modifications
      (a “Modified Business
      Plan”). Geron shall have sixty (60)
      days to object, in writing, to the reasonableness of any Modified Business
      Plan or Updated Business Plan. Any objection raised by Geron not addressed
      to Geron’s reasonable satisfaction by GEHC shall be elevated to a
      discussion between senior executives of the Parties.
	 
	 	(c) Geron agrees and acknowledges that Initial Business
      Plans, Updated Business Plans and Modified Business Plans, if any,
      shall be considered as Information and treated as confidential pursuant to
      Section 6 hereunder.
	 
	4.4	Development Reports
	 
	 	Following
      the date of expiration of the Alliance Program according to Section 2.3
      (subject to any agreed extension or renewal agreed by the parties), Geron,
      may, no more than once a year, submit a written request to GEHC for a
      Development Report and GEHC shall supply Geron with a written Development
      Report showing GEHC’s progress towards the bringing Cellular Assay
      Products to market. Such Development Reports shall be submitted within one
      month of Geron’s request. Geron agrees and acknowledges that Development
      Reports shall be considered as Information and treated as confidential
      pursuant to Section 6 hereunder.

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	4.5	Potential
      Sublicensing If Geron introduces a
      potential sublicensee to GEHC for a product, market or territory not being
      developed or served by GEHC, then GEHC shall, within three (3) months of
      written notification by Geron, enter into good faith negotiations with
      said potential sublicensee with the goal of executing a sublicense with
      commercially reasonable terms within six (6) months thereafter or provide
      Geron with a Modified Business Plan indicating intent to develop such
      product or serve such market or territory unless GEHC determines, in its
      sole discretion, that such development or serving is not commercially
      viable and provides a written explanation of such determination to Geron.
      GEHC shall keep Geron apprised of the status of its negotiations with the
      potential sublicensee. Geron and GEHC shall negotiate reasonable and
      necessary amendments to this Agreement to allow any such sublicensing by
      GEHC. GEHC shall deliver to Geron a copy of any such sublicense agreement
      and a copy of any material subsequent amendment, within thirty (30) days
      of execution. However, GEHC may redact from such sublicense agreements any
      Confidential Information.
	              
    	
	5.	PAYMENTS; ROYALTIES AND
      ROYALTY REPORTS

In consideration the license granted to
it under this Agreement, GEHC agrees to pay to Geron the License and Milestone
Fees set forth in Section 5.1; the Patent Royalties set forth in Section 5.2;
and the Know-How Royalty set forth in Section 5.3 below. 

	5.1	License and Milestone Fees In partial consideration for the rights granted herein, GEHC shall
      make the following payments to Geron:
	 
	5.1.1	Up-front License Fees A
      non-refundable and non-creditable upfront license fee of * dollars ($*
      USD). Such payment shall be made within thirty (30) days after the
      Effective Date. 
	 
	5.1.2	Commercial Sale Milestone Payments Non-refundable and non-creditable payments as set forth
      below upon commercial launch of the first three Cellular Assay Products,
      the amounts payable within thirty (30) days of the First Commercial Sale
      of such Product, wherein the Cellular Assay Products are, as decided by
      the ASC, distinct from each other:
	 
		(a)
      * Cellular Assay Product, * dollars ($ *
      USD)
	 
	 	(b)
      * Cellular Assay Product, * dollars ($ *
      USD)
	 
	              
    	(c)
      * Cellular Assay Product, * dollars ($ *
      USD)
	 
	5.1.3	Aggregate Sales Milestones Subject to the terms and conditions of this Agreement, GEHC shall
      pay Geron a non-refundable and non-creditable payment as
  follows:
	 
	 	(a)
      * dollars ($ * USD) within thirty (30) days
      after the end of the month in which GEHC first realizes total aggregate
      Net Sales of Cellular Assay Products of * dollars ($ * USD)
  and
	 
	 	(b)
      * dollars ($ * USD) within thirty (30) days
      after the end of the month in which GEHC further realizes aggregate Net
      Sales of Cellular Assay Products of another * dollars ($ * USD) for a
      total aggregate Net Sales of * dollars ($ *
USD).

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	5.2	Royalties
	 
	5.2.1	Patent
      Royalties Subject to the remaining
      provisions of this Section, GEHC shall pay Geron patent royalties on Net
      Sales of Patent Products in the Cellular Assay Products Field at the
      lowest applicable of the rates set forth below. For avoidance of doubt,
      the following royalty rates are not cumulative; only one rate shall apply
      to each Patent Product sale.
	              		
		(a) * percent (*%) on
      Net Sales of Patent Products comprising *.
		 
		(b) * percent (*%) on
      Net Sales of Patent Products not covered in Section 5.2.1(a).
		 
		(c) * percent (*%) on
      Net Sales of Patent Products which fall solely within the scope of one or
      more Valid Patent Claims of the Joint Alliance Patent Rights.
		 
	5.2.2	Royalty Adjustment
	 
		(a)  	Royalty Step
      Up.
			 
	 		(i) In the event
      *.
	 
	 	 	(ii) In the event,
      *.
	 
	 	 	(iii) A table
      outlining the above royalty obligations is set forth in Schedule
      5.2.2(a).     
	 
	 	(b)
      Royalty Stacking. Geron and GEHC understand and agree that GEHC may enter into
      license agreements with third parties to permit GEHC to incorporate
      additional technologies into Patent Products, or to otherwise obtain
      licenses to Third Party patents, to facilitate the commercialization of
      Patent Products. To accommodate such additional licensing, GEHC may reduce
      royalties payable to Geron under Section 5.2.1(a), 5.2.1(b) and Section
      5.2.2(a) on account of such Third Party royalty payment obligations on the
      sale of Patent Products pursuant to one or more arms’ length transactions
      with third parties as set forth in this section by applying the
      calculation method set forth in this Section
  5.2.2(b)(ii).

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      (i). Prior
      Opportunity for Comment GEHC shall
      provide advance written notice to Geron before entering into any Third
      Party license arrangement projected by GEHC to resulting reduced royalty
      payments to Geron under this section. Such written notice shall be for the
      purpose of allowing Geron to review and provide comment on the proposed
      Third Party license arrangement. The notice shall be provided no less than
      45 (forty five) days prior to the entry into any such Third Party license
      agreement, and shall specify: (a) the technology and / or intellectual
      property rights that are the subject of the proposed license; (b) the
      Patent Product(s) to which the Third Party license are expected to be
      relevant and (c) the likely relevant terms of the Third Party license and
      the projected royalty adjustment to affected Patent Products. GEHC shall
      duly consider any comments provided by Geron with respect to the proposed
      Third Party license, and shall inform Geron of its response to any Geron
      comment. The decision to enter into any Third Party license shall be made
      by GEHC, in its sole discretion, provided that Geron shall have the right
      to raise issues of substance to a member of the executive team of GEHC’s
      Life Sciences division if not in agreement with the GEHC decision. Nothing
      in this Section 5.2.2 (b) (i) shall give Geron the right to review or
      comment on any Third Party license agreement entered into by GEHC prior to
      the Effective Date of this Agreement. This Section 5.2.2 (b)(i) shall be
      subject to any confidentiality obligations between GEHC and the Third
      Party with which GEHC is considering entering into a license arrangement
      with which may restrict the disclosure of either the identity of the Third
      Party or any commercial or other legal terms being negotiated with such
      party.

      (ii). Calculation For every * percent (* %) paid in royalties to a Third Party by
      GEHC pursuant to Section 5.2.2(b)(i), the royalties payable to Geron with
      respect to such Patent Products may be reduced by * percent (* %),
      provided that the royalty payable to Geron shall not be reduced below the
      minimum rate identified in Schedule 5.2.2(b). For the avoidance of doubt,
      royalties paid to Geron in the WARF Patent Sublicense Agreement cannot be
      considered as royalties to a Third Party.

			 
	 	(c)  	Royalty adjustments
      under Section 5.2.2 shall not apply to Section 5.2.1(c) or to Section
      5.3.
	              
    	 	 
	5.2.3	Royalty Term By negotiated
      agreement of the Parties with respect to all aspects of consideration
      applicable to this Agreement, payment of patent royalties pursuant to
      Section 5.2 shall continue until the expiration of all applicable Valid
      Claims in the Territory. 
	 
	5.3	Know-How Royalty In the
      event that any Know-How Product does not qualify as a Patent Product, GEHC
      will pay to Geron a Know-How royalty of * percent (*%) of worldwide Net
      Sales of such Know-How Product for a period of * (*) years after the
      Effective Date of this Agreement. For avoidance of doubt (1) no Know-How
      royalty shall be payable on any Cellular Assay Product sale to which a
      patent royalty under Section 5.2.1 is applicable; and (2) the royalty
      stacking provisions of Section 5.2.2(b) shall not apply to Know-How
      royalty payments.

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	5.4	Reports; Payment of Royalties
	              
    	
		
      (a) During the term of this Agreement
      following the First Commercial Sale of a Patent Product, GEHC shall
      furnish to Geron a written report for the Calendar Half showing the Net
      Sales of all Cellular Assay Products sold by GEHC during the reporting
      period and the royalties payable under this Agreement. Reports and payment
      shall be due on the forty-fifth (45th) day following the close
      of each Calendar Half. Royalties shown to have accrued by each royalty
      report shall be due and payable on the date such royalty report is due.
      GEHC shall keep complete and accurate records in sufficient detail to
      enable the royalties payable hereunder to be determined. For the calendar
      quarters that GEHC does not have payment due, Geron may request and GEHC
      shall provide reasonable estimates of the Net Sales in that quarter within
      thirty (30) days of receipt of the written request.

      (b) Reports and payments shall be sent
      to: 

		 	
		                                                        
    	
      Geron
      Corporation 
Attention: Controller 
230 Constitution Drive 
Menlo
      Park, CA 94025 

		Interest shall accrue on all sums
      due and unpaid under this Agreement at the rate of * percent (* %) per
      annum above the prime rate quoted from time to time by the Bank of America
      from the due date for payment until the date of payment in full
      thereof.
	              
    	
	5.5	Invoicing
      Upon the written request of GEHC, Geron
      shall provide GEHC with an invoice for any payments due under this
      Agreement.
	 
	5.6	Audits 
	 
	5.6.1	Upon the written
      request of Geron and not more than once in each Calendar Year, GEHC shall
      permit an independent certified public accounting firm of nationally
      recognized standing selected by Geron and reasonably acceptable to GEHC,
      at Geron’s expense, to have access during normal business hours to such of
      the records of GEHC as may be reasonably necessary to verify the accuracy
      of the royalty reports within twenty-four (24) months after receipt by
      Geron of such royalty reports.
	 
	5.6.2	If such accounting
      firm identifies a discrepancy made during such period, the appropriate
      Party shall pay the other Party the amount of the discrepancy within
      thirty (30) days of the date Geron delivers to GEHC such accounting firm’s
      written report so concluding, or as otherwise agreed upon by the Parties.
      The fees charged by such accounting firm shall be paid by Geron,
      provided, however, that if such audit uncovers an underpayment of
      royalties by GEHC that exceeds * percent (* %) of the total royalties owed
      during the audit period, then the fees of such accounting firm shall be
      paid by GEHC.

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	5.6.3	GEHC shall include in
      each sublicense granted by it pursuant to this Agreement a provision
      requiring the sublicensee to make reports to GEHC, to keep and maintain
      records of sales made pursuant to such sublicense and to grant access to
      such records by Geron’s independent accountant to the same extent required
      of GEHC under this Agreement.
	              
    	
	5.6.4	Upon the expiration of
      twenty-four (24) months following the receipt by Geron of any royalty
      report, the calculation of royalties payable thereunder shall be binding
      and conclusive upon Geron, and GEHC shall be released from any liability
      or accountability with respect to royalties for such year.
	 
	5.6.5	Geron shall treat all
      financial information subject to review under Section 5.6.1 or under any
      sublicense agreement in accordance with the confidentiality and non-use
      provisions of this Agreement, and shall cause its accounting firm to enter
      into an acceptable confidentiality agreement with GEHC obligating it to
      retain such information in confidence pursuant to such confidentiality
      agreement.
	 
	5.7	Payment Exchange
      Rate All payments to be made by
      GEHC to Geron under this Agreement shall be made in United States dollars
      and may be paid by bank wire transfer in immediately available funds to
      such bank account in the United States as may be designated in writing by
      Geron from time to time. In the case of sales outside the United States,
      the rate of exchange to be used in computing the amount of currency
      equivalent in United States dollars due Geron shall be made at the rate of
      exchange utilized by GEHC in its accounting system, prevailing on the last
      business day of the last month in Calendar Half in which such sales
      occurred.
	 
	5.8	Taxes
      All payments due under this Agreement
      are exclusive of any VAT or similar indirect taxes. In the event that any
      VAT is properly due under any applicable law, regulation or otherwise,
      this shall be charged in addition to any other payments due under this
      Agreement and shall be payable by the paying party on receipt of a valid
      tax invoice issued by the invoicing party.
	 
	5.9	Withholding
      Tax All payments hereunder shall be
      made free and clear of any taxes, duties, levies, fees or charges, except
      for withholding taxes (to the extent applicable). If and to the extent
      required by law and regulation, GEHC shall have the right to deduct any
      applicable withholding taxes from payments made hereunder, provided that
      GEHC shall take reasonable and lawful actions to avoid or minimize such
      withholding. GEHC shall promptly provide Geron with such written
      documentation regarding any such payment as available to Geron relating to
      an application by Geron for a foreign tax credit for such payment. The
      Parties agree to cooperate with each other in claiming exemptions form
      such deductions or withholdings, and in submitting such documents or
      information as may be necessary to obtain a refund of amounts previously
      deducted from payments by GEHC to Geron. After such exemption is obtained,
      and for so long as such exemption is in effect, all due amounts shall be
      paid by GEHC in full.

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	6.	CONFIDENTIALITY
      AND PUBLICATION 
	              
    	
	6.1	Nondisclosure Obligation
	 
	6.1.1	During the
      term of this Agreement and a period of * (*) years thereafter, all
      Information disclosed by one Party to the other Party hereunder shall be
      maintained in confidence by the receiving Party and shall not be disclosed
      to any Third Party, or used for any purpose except as set forth herein
      without the prior written consent of the disclosing Party, except to the
      extent that such Information: 
	 
	 	(a)
      is known by the receiving Party at the time
      of its receipt, and not through a prior disclosure by the disclosing
      Party, as documented by the receiving Party’s business
  records;
	 
	 	(b)
      is in the public domain by use and/or
      publication before its receipt from the disclosing Party, or thereafter
      enters the public domain through no fault of the receiving
  Party;
	 
	 	(c)
      is subsequently disclosed to the receiving
      Party by a Third Party who may lawfully do so and is not under an
      obligation of confidentiality to the disclosing Party; or
	 	 
	 	(d)
      is developed by the receiving Party
      independently of Information received from the disclosing Party, as
      documented by the receiving Party’s business records.
	 	 
	 	Any
      combination of features or disclosures shall not be deemed to fall within
      the foregoing exclusions merely because individual features are published
      or available to the general public or in the rightful possession of the
      receiving Party unless the combination itself and principle of operation
      are published or available to the general public or in the rightful
      possession of the receiving Party.
	 
	 	(e)
      If a Party is required by judicial or
      administrative process to disclose Information that is subject to the
      non-disclosure provisions of this Section 6.1 or Section 6.2, such Party
      shall promptly inform the other Party of the disclosure that is being
      sought in order to provide the other Party an opportunity to challenge or
      limit the disclosure obligations. Information that is disclosed by
      judicial or administrative process shall remain otherwise subject to the
      confidentiality and non-use provisions of this Section 6.1 and Section
      6.2, and the Party disclosing Information pursuant to law or court order
      shall take all steps reasonably necessary, including without limitation
      obtaining an order of confidentiality, to ensure the continued
      confidential treatment of such Information. Each Party agrees that it
      shall cooperate fully and in a timely manner with the other with respect
      to all disclosures to the Securities and Exchange Commission and any other
      governmental or regulatory agencies, including requests for confidential
      treatment of Information of either party included in any such disclosure.
      Such disclosures may include Information that is disclosed to governmental
      or other regulatory agencies in order to obtain patents or to gain or
      maintain approval to conduct clinical trials or to market product, but
      such disclosure may be only to the extent reasonably necessary to obtain
      patents or authorizations.

____________________

*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

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	6.2	Publication
	              
    	
	6.2.1	GEHC and Geron each
      acknowledge the other Party’s interest in publishing the results of its
      research in order to obtain recognition within the scientific community
      and to advance the state of scientific knowledge. However, any publication
      of Information arising from the Alliance Program shall be solely by
      agreement of the Parties. Each Party also recognizes the mutual interest
      in obtaining valid patent protection and in protecting business interests
      and trade secret information. Consequently, except for disclosures
      permitted pursuant to Section 6.1, either Party, its employees or
      consultants wishing to make a publication containing Alliance Program
      Know-How or confidential Information of the other Party shall deliver to
      the other Party a copy of the proposed written publication or an outline
      of an oral disclosure at least forty-five (45) days prior to submission
      for publication or presentation. The reviewing Party shall have the right
      (a) to propose modifications to the publication or presentation for patent
      reasons, trade secret reasons or business reasons or (b) to request a
      reasonable delay in publication or presentation in order to protect
      patentable information. If the reviewing Party requests a delay, the
      publishing Party shall delay submission or presentation for a period of
      sixty (60) days to enable patent applications protecting each Party’s
      rights in such information to be filed in accordance with Article 9 below.
      Upon expiration of such sixty (60) days, the publishing Party shall be
      free to proceed with the publication or presentation. If the reviewing
      Party requests modifications to the publication or presentation, the
      publishing Party shall edit such publication to prevent disclosure of
      trade secret or proprietary business information of the reviewing Party
      prior to submission of the publication or presentation.
	 
	6.3	Publicity/Use of
      Names/Disclosure of Terms
	 
	6.3.1	Both Parties hereby
      agree that, on or after the Effective Date, Geron and GEHC shall issue a
      joint press release substantially in the form as set forth in Schedule
      6.3.1.
	 
	6.3.2	No disclosure of the
      terms of this Agreement beyond those otherwise described in the press
      release in Schedule 6.3.1 or otherwise previously publicly disclosed as
      required by law, may be made by either Party. Neither Party shall use the
      name, trademark, trade name or logo of the other Party, its Affiliates or
      their respective employees in any publicity, promotion, news release or
      disclosure relating to this Agreement or its subject matter, without the
      prior express written permission of the other Party, except as may be
      required by law. Each Party hereby consents to the use of its name by the
      other Party in making reference to the existence of the Agreement only to
      the extent permitted in this Section 6.3.2.
	 
	6.3.3	Notwithstanding the
      above, either Party may disclose the terms of this Agreement to accredited
      investors, investment bankers, or potential acquirors or merger candidates
      in the context of due diligence investigations of such Party, provided
      that the party to which such information is disclosed is subject to a
      nondisclosure obligation no less stringent that that specified in Section
      6.1.
	 
	7.	REPRESENTATIONS AND
      WARRANTIES; COVENANTS 
	 
	7.1	Representations
      and Warranties

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	7.1.1	Geron
      Representations and Warranties Geron
      represents and warrants to GEHC that as of the Effective Date of this
      Agreement:
		 
		
      (a) Geron will use only human embryonic
      stem cells derived from the * cell lines which are listed on the NIH stem
      cell registry for all activities under this Agreement unless otherwise
      agreed upon in writing by the Parties;

      (b) to the best of Geron’s knowledge,
      the Geron Background Patent Rights and Geron Know-How exist and are not
      invalid or unenforceable, in whole or in part, in the Cellular Assay
      Products Field and the Limited Field; 

      (c) it has the full right, power and
      authority to enter into this Agreement, to perform its obligations under
      the Alliance Program and to grant the licenses granted under Article 3
      hereof; 

      (d) it has not previously assigned,
      transferred, conveyed or otherwise encumbered its right, title and
      interest in Geron Background Patent Rights or Geron Know-How in the
      Cellular Assay Products Field; 

      (e) it is the sole and exclusive owner
      or licensee of the Geron Background Patent Rights and Geron Know-How, all
      of which are free and clear of any liens, charges and encumbrances, and no
      other person, corporate or other private entity, or governmental entity or
      subdivision thereof, has or shall have any claim of ownership whatsoever
      with respect to the Geron Background Patent Rights and Geron Know-How in
      the Cellular Assay Products Field; and 

      (f) to the best of Geron’s knowledge
      there are no claims, judgments or settlements against or owed by Geron and
      no pending or threatened claims or litigation relating to the Geron
      Background Patent Rights and Geron Know-How; and 

      (g) Geron shall amend Schedule 1.21 to
      add any Patent Rights that, as of the Effective Date, were wholly owned
      by, or assigned to, Geron, which were not included in Schedule 1.21 as of
      the Effective Date, and are reasonably necessary for the development and
      commercialization of products under this Agreement, and for which Geron
      has the right to license to GEHC. This warranty is limited as specified in
      Schedule 7.1.1(g); and 

      (h) Geron shall list Geron Future
      Patent Rights on a Schedule 1.24, but at a minimum, shall update such
      schedule on an annual basis to add any Patent Rights that arise where such
      Patent Rights are wholly owned by or assigned to, Geron, and are
      reasonably necessary for the development and commercialization of Cellular
      Assay Products in the Cellular Assay Products Field, and for which Geron
      has the right to license to GEHC. 

	              
    	 
	7.1.2	GEHC Representations and
      Warranties. GEHC represents and
      warrants to Geron that, except as indicated in Schedule 7.1.2, as of the
      Effective Date:
		 
		
      (a) it has the full right, power and
      authority to enter into this Agreement, and to perform its obligations
      under the Alliance Program, and to grant the licenses granted under
      Article 3 hereof; 

      (b) to the best of GEHC’s knowledge, it
      owns or has licensed all intellectual property rights that as of the
      Effective Date it reasonably believes is necessary or will be necessary to
      develop and commercialize products in the Cellular Assay Products Field;
      

      (c) it has had a full opportunity
      to conduct, and has conducted, a diligence review of the Geron Background
      Patent Rights, Geron Know-How and other matters relevant to this
      Agreement.

____________________

*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

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	7.2	Limitation of
      Liability
	 
	              
    	EXCEPT FOR DAMAGES
      ARISING OUT OF A PARTY'S BREACH OF ARTICLES 6, 7 and 8, IN NO EVENT WILL
      EITHER PARTY BE LIABLE TO THE OTHER PARTY HEREUNDER FOR ANY INCIDENTAL,
      INDIRECT, SPECIAL, CONSEQUENTIAL (INCLUDING BUT NOT LIMITED TO LOST
      PROFITS, LOST DATA, LOST BUSINESS OPPORTUNITY, LOSS OF GOODWILL OR LOST
      USE) OR PUNITIVE DAMAGES REGARDLESS OF THE FORM OF ACTION, WHETHER
      CONTRACT, TORT (INCLUDING NEGLIGENCE), STRICT PRODUCT LIABILITY OR
      OTHERWISE, EVEN IF SUCH PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
      DAMAGES.
	 
	8.	INDEMNIFICATION;
      INSURANCE
	 
	8.1	Indemnification
      by Geron
	 
	 	Geron hereby agrees at
      all times during the term of this Agreement to indemnify, defend and hold
      harmless, from all third parties, GEHC and its Affiliates (collectively,
      “GEHC Indemnified Parties”) from and against any and all liabilities,
      actions, losses, damages, claims or expenses, including reasonable
      attorneys’ fees and costs (collectively, “Indemnified Losses”), arising
      from or based on (a) a breach of Geron’s obligations or representations
      and warranties contained in Section 7.1.1, or (b) the performance by Geron
      (including the Geron employees funded by GEHC) of the activities specified
      in the Alliance Workplan or (c) resulting from personal injury, product
      liability or property damage relating to or arising from the use by Geron
      or its sublicensees of GEHC Know-How, GEHC Alliance IP Rights or any GEHC
      interest in Joint Alliance IP provided that such indemnification
      obligation shall not apply to Indemnified Losses on the part of a GEHC
      Indemnified Party to the extent such GEHC Indemnified Party is adjudicated
      (in a final non-appealable judgment) to have acted in a grossly negligent
      or willfully wrongful manner.
	 
	8.2	Indemnification
      by GEHC
	 
	 	GEHC agrees to defend,
      indemnify and hold harmless, from all third parties, Geron and its
      Affiliates (collectively the "Geron Indemnified Parties") from and against
      any and all Indemnified Losses arising from or based on (a) a breach of
      GEHC’s representations and warranties contained in Section 7.1.2, or (b)
      the performance by GEHC of the activities specified in the Alliance
      Workplan or (c) resulting from personal injury, product liability or
      property damage relating to or arising from: (i) the manufacture, use,
      promotion or sale of any Cellular Assay Product by GEHC or its
      sublicensees; or (ii) the use by any person of a Cellular Assay Product
      made, created, sold or otherwise transferred by GEHC or its sublicensees;
      or (iii) the use by GEHC or its sublicensees outside the Cellular Assay
      Field of Geron Background Patent Rights, Geron Know-How, Geron Alliance IP
      Rights or any Geron interest in Joint Alliance IP; provided that such
      indemnification obligation shall not apply to Indemnified Losses on the
      part of a Geron Indemnified Party to the extent such Geron Indemnified
      Party is adjudicated (in a final non-appealable judgment) to have acted in
      a grossly negligent or willfully wrongful
manner.

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	8.3	Notification of Claims;
      Conditions to Indemnification Obligations
	              
    	
	 	The Parties shall promptly notify
      each other of any claims or suits with respect to which indemnification
      under this Agreement is or could be sought. The Party requesting
      indemnification shall permit the indemnifying Party to assume the defense
      of such claims or suits giving rise to the request, at the indemnifying
      Party’s sole expense. The Party requesting indemnification shall cooperate
      with the indemnifying Party in such defense when reasonably requested to
      do so. In no event shall the indemnifying Party compromise or settle any
      claim or suit in a manner that admits fault or negligence on the part of
      the indemnified Party, or that would otherwise adversely affect any rights
      of the indemnified Party, without the prior written consent of the
      indemnified Party. The indemnifying Party shall have no liability under
      this Article 8 with respect to claims or suits settled or compromised
      without the indemnifying Party’s prior knowledge and express written
      consent.
	 
	8.4	Insurance
  
	 
	 	Each Party, at its own expense,
      shall maintain comprehensive general and product liability insurance
      coverage in amounts reasonable and customary in the industry, but not less
      than $* per occurrence and $* in the annual aggregate in the United States
      and $* per occurrence and $* in the annual aggregate outside the United
      States.
	 
	9.   
        	PATENT PROVISIONS
	 
	9.1 
          	Ownership of Alliance
      Inventions
		 
		
      (a) Alliance Patent Rights and Alliance
      Know-How conceived and/or reduced to practice solely by employees or
      agents of Geron shall be owned solely by Geron (the “Geron Alliance IP
      Rights”); 

      (b) Alliance Patent Rights and Alliance
      Know-How conceived and/or reduced to practice solely by employees or
      agents of GEHC shall be owned solely by GEHC (the “GEHC Alliance IP
      Rights”); and 

      (c) Alliance Patent Rights and Alliance
      Know-How conceived and/or reduced to practice jointly by employees of GEHC
      or Geron or others acting on behalf of GEHC and Geron shall be jointly
      owned by the Parties (the “Joint Alliance IP Rights”).

      (d) The Parties shall cooperate fully
      and promptly to assure execution of all necessary documents, including
      assignments, to effect the ownership of Alliance Inventions as provided
      for in this Section. 

____________________

*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

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	9.2	Geron Background and Future
      Patent Rights
	              
    	 
	9.2.1	Filing, Prosecution and
      Maintenance of Geron Background Patent Rights and Geron Future Patent
      Rights
		 
		
      (a) Geron shall use Commercially
      Reasonable Efforts to file, prosecute and maintain in the Territory the
      Geron Background Patent Rights and Geron Future Patent Rights licensed to
      GEHC under this Agreement at Geron’s sole expense. Geron shall provide
      GEHC with annual updates on prosecution of Geron Background Patent Rights
      and Geron Future Patent Rights relevant to the Cellular Assay Products
      Field and shall cooperate with GEHC with respect to strategies for
      securing patent protection for the Cellular Assay Products Field. All
      final decisions with respect to filing, prosecution and maintenance of
      Geron Patent Background Rights and Geron Future Patent Rights shall be
      made by Geron.

      (b) In the event that Geron
      decides not to maintain an issued patent listed in Schedule 1.21 or 1.24,
      it shall timely notify GEHC, and GEHC shall have the right, at its sole
      discretion, to maintain the patent. Geron shall execute such documents and
      perform such acts at its expense as may be reasonably necessary for GEHC
      to perform such maintenance. In such event, and only in the territory for
      which GEHC has paid such maintenance expenses, royalties due in
      association with such patent licensed hereunder shall be reduced to zero
      if no other Valid Patent Claims apply. 

      (c) In the event that there is a
      provision by legislation in any country for the extension of the term of
      the Geron Background Rights and Geron Future Patent Rights licensed to
      GEHC under this Agreement in that country, then Geron shall undertake to
      use all reasonable efforts to obtain such extension, if so requested by
      GEHC. 

		 
	9.2.2	Interference, Opposition,
      Reexamination and Reissue of Geron Background Patent Rights and Geron
      Future Patent Rights
		 
		
      (a) Geron shall, within ten (10) days
      of learning of such event, inform GEHC of any request for, or filing or
      declaration of, any interference, opposition, reissue or reexamination
      relating to Geron Background Patent Rights or Geron Future Patent Rights.
      GEHC and Geron shall thereafter consult and cooperate fully to determine a
      course of action with respect to any such proceeding. All final decisions
      with respect to such proceedings shall be made by Geron. Geron shall use
      Commercially Reasonable Efforts to defend any interference, opposition,
      reissue or reexamination relating to Geron Background Patent Rights or
      Geron Future Patent Rights licensed to GEHC under this Agreement at
      Geron’s sole expense.

      (b) Any decision to initiate any
      reexamination, interference or reissue proceeding relating to Geron
      Background Patent Rights or Geron Future Patent Rights relevant to the
      Cellular Assay Products Field shall be taken in consultation with GEHC,
      but any final decision with respect to such proceedings shall be made by
      Geron. 

      (c) In connection with any
      interference, opposition, reissue, or reexamination proceeding relating to
      Geron Background Patent Rights or Geron Future Patent Rights relevant to
      the Cellular Assay Products Field, GEHC and Geron will cooperate fully and
      will provide each other with any information or assistance that either may
      reasonably request. Geron shall keep GEHC informed of developments in any
      such action or proceeding, including, to the extent permissible by law,
      consultation on any settlement, the status of any settlement negotiations
      and the terms of any offer related thereto. Any final decision to settle
      any such action shall be made by Geron.

      (d) Geron shall bear the expense
      of any interference, opposition, reexamination, or reissue proceeding
      relating to Geron Background Patent Rights or Geron Future Patent Rights.
      

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	9.2.3	Enforcement and
      Defense of Geron Background Patent Rights and Geron Future Patent
      Rights
	              
    	
		
      (a) If either Party hereto becomes
      aware that Geron Background Patent Rights or Geron Future Patent Rights
      are being or have been infringed by any Third Party in the Cellular Assay
      Products Field, such Party shall make Commercially Reasonable Efforts to
      promptly notify the other Party hereto in writing describing the facts
      relating thereto in reasonable detail.

      (b) Geron, at its sole discretion, may
      either take action to abate such infringement or may choose not to take
      action to abate the infringement as follows. If Geron *, except, however,
      if GEHC *: 

		 

	                   
    	
      (i) Enforcement Action at Geron’s Expense. Geron may, * with respect to * and *, in connection with any such
      Action. Any amounts recovered in such Action shall be * and any remainder
      * shall be *. In any Action *, GEHC shall *. 

      (ii) Enforcement Action With Shared Expense. In the event that * may, * with respect to *. Further, *. The
      Parties shall *. 

      Prior to the commencement of any
      Action, in the event that *. 

      Upon commencement of any Action
      under this Section 9.2.3(b)(ii), the Parties shall *. 

      GEHC shall provide Geron with
      such assistance and information as may be useful to Geron in connection
      with Geron’s taking such Action. GEHC shall have a right to review and
      comment, in accordance with the confidentiality obligations set forth in
      Section 6, on Geron’s enforcement of the Valid Patent Claims in the
      Cellular Assay Products Field, including the right to review and approve
      any proposed settlement of an infringement action prior to Geron’s
      entering into such an agreement. Any recovery or damages for infringement
      derived through Geron taking such Action shall be applied as follows: (a)
      first, reimbursement to both Geron and GEHC for the expenses of
      litigation, including reasonable attorneys’ fees (if the recovery does not
      cover all the costs, the recovery shall be split depending on the
      percentage contribution of the parties to the litigation), (b) the balance
      of the any recovery or damages, except enhanced damages, shall be rewarded
      to GEHC as Net Sales and (c) Geron and GEHC shall share all enhanced
      damages in equal shares.

____________________

*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

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      (iii) If Geron does not take
      action to abate the infringement of the Licensed Patents within * (*)
      months of receiving an Infringement Notice, GEHC may reduce its royalty
      obligations under this Agreement as follows: in the event that, and for so
      long as, sales of Infringing Products (as defined below) compete with the
      sale of Patent Products, then the royalties owed under Section 5.2 on
      sales of Patent Products in a country in which Infringing Products are
      sold shall be reduced by * (*%) percent in such country. “Infringing
      Products” means products or services that allegedly infringe one or more
      Valid Patent Claims. 

	9.3	Alliance Patent
      Rights
	 
	9.3.1	Filing,
      Prosecution and Maintenance of Alliance Patent Rights
	              
    	
		
      (a) GEHC shall have the first right to
      file, prosecute and maintain in the Territory, upon appropriate
      consultation with Geron, the GEHC Alliance Patent Rights and Joint
      Alliance Patent Rights, and Geron shall have the first right to file,
      prosecute and maintain in the Territory, upon appropriate consultation
      with GEHC, the Geron Alliance Patent Rights. For Joint Alliance Patent
      Rights, the maintenance costs shall be shared by both Parties unless GEHC
      gives up its right to maintain such rights pursuant to Section 9.3.1(c).
      Neither Geron nor GEHC shall grant any license to a Third Party under its
      ownership interest in Joint Alliance Patent Rights that is in conflict
      with the rights granted in this Agreement. Geron and GEHC each shall
      timely perform any acts requested by the other for the other to grant
      licenses under, or otherwise exploit its rights in, its ownership interest
      in Joint Alliance Patent Rights consistent with the terms of this
      Agreement.

      (b) Each Party shall promptly provide a
      written report to the other Party of any potentially patentable Alliance
      Know-How that may be solely or partially owned by the other Party prior to
      the filing of any corresponding patent application, together with the
      Party’s determination of inventorship for that Invention. With respect to
      all proposed Alliance Patent Rights for which a patent application is to
      be filed, the filing Party shall give the non-filing Party an opportunity
      to review the text of the application before filing, shall consult with
      the non-filing Party with respect thereto, including with respect to
      determination of inventorship and ownership. The filing Party shall supply
      the non-filing Party with a copy of the application as filed, together
      with notice of its filing date and serial number. Upon request by the
      non-filing Party, the filing Party shall also provide the non-filing Party
      with timely copies of all papers related to the prosecution and
      maintenance of patents and patent applications covering Alliance Patent
      Rights at least thirty (30) days in advance of the filing of any response
      and shall take into account any comments and suggestions made by the
      non-filing Party. Each Party shall promptly give notice to the other of
      the allowance, grant, lapse, revocation, surrender, invalidation or
      abandonment of any Alliance Patent Rights for which it is responsible for
      the filing, prosecution and maintenance. With respect to all filings
      hereunder, the filing Party shall be responsible for payment of all costs
      and expenses related to such filings.

      (c) If the Party with the first right
      to file, prosecute or maintain Alliance Patent Rights elects not to do so,
      it shall timely notify the other Party, and the other Party shall have the
      right, at its sole expense, to file, prosecute or maintain, as applicable,
      such Alliance Patent Rights. The non-filing Party shall execute such
      documents and perform such acts at its expense as may be reasonably
      necessary for the other to perform such filing, prosecution and/or
      maintenance.

____________________

*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

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	9.3.2	Interference,
      Opposition, Reexamination and Reissue
	              
    	  
		
      (a) Each Party shall, within ten
      (10) days of learning of such event, inform the other of any request for,
      or filing or declaration of, any interference, opposition, reissue or
      reexamination relating to Alliance Patent Rights. The right to control any
      such proceeding with respect to Alliance Patent Rights shall be as
      specified with respect to patent filing, prosecution and maintenance in
      Section 9.3.1. 

      (b) Neither Party shall initiate
      any reexamination, interference or reissue proceeding relating to Alliance
      Patent Rights without the prior written consent of the other, which
      consent shall not be unreasonably withheld.

      (c) In connection with any
      interference, opposition, reissue, or reexamination proceeding relating to
      Alliance Patent Rights, GEHC and Geron will cooperate fully and will
      provide each other with any information or assistance that either may
      reasonably request. Each Party shall keep the other informed of
      developments in any such action or proceeding, including, to the extent
      permissible by law, consultation on and approval of any settlement, the
      status of any settlement negotiations and the terms of any offer related
      thereto. 

      (d) Geron shall bear the expense
      of any interference, opposition, reexamination, or reissue proceeding
      relating to Geron Alliance Patent Rights. GEHC shall bear the expense of
      any interference, opposition, reexamination, or reissue proceeding
      relating to GEHC Alliance Patent Rights. For Joint Alliance Patent Rights,
      the costs for interference, opposition, reexamination, or reissue
      proceeding shall be shared by both Parties unless GEHC gives up its right
      to maintain such rights pursuant to Section 9.3.1(c). If the costs are
      being shared, the Parties shall use good faith efforts to mutually agree
      on any strategy in handling interference, opposition, reexamination or
      reissue matters. For Joint Alliance Patent Rights where the Parties are
      sharing the costs, GEHC shall have the final decision regarding
      interference, opposition, reexamination or reissue matters. In the event
      that either Party has given up its filing, prosecution and/or maintenance
      rights pursuant to Section 9.3.1(c) and the other Party has acquired such
      rights, the acquiring Party shall have the decision making rights as well
      as bear the cost burden for any interference, opposition, reexamination or
      reissue. 

		  
	9.3.3	
      Enforcement and Defense of
      Alliance Know-How and Alliance Patent Rights 

		 
		
      (a) Each Party shall promptly
      give the other notice of either (i) any infringement of Alliance Patent
      Rights, (ii) any declaratory judgment action relating to Alliance Patent
      Rights or (iii) any misappropriation or misuse of Alliance Know-How that
      is licensed hereunder, that may come to its attention. Geron shall have
      the right to initiate and prosecute, at its own expense, actions to
      terminate any infringement of Geron Alliance Patent Rights and/or to
      control the defense of any declaratory judgment action relating to Geron
      Alliance Patent Rights. GEHC shall have the right to initiate and
      prosecute, at its own expense, actions to terminate any infringement of
      GEHC Alliance Patent Rights and/or to control the defense of any
      declaratory judgment action relating to GEHC Alliance Patent Rights. The
      Parties shall use good faith efforts to mutually agree on any strategy
      (and cost-sharing arrangement) to initiate and prosecute actions to
      terminate any infringement of Joint Alliance Patent Rights and/or to
      control the defense of any declaratory judgment action relating to Joint
      Alliance Patent Rights. The Parties shall use good faith efforts to
      mutually agree on any strategy to bring non-patent legal action to address
      any misappropriation or misuse of Alliance Know-How. In the event that
      either Party has given up its filing, prosecution and/or maintenance
      rights pursuant to Section 9.3.1(c) and the other Party has acquired such
      rights, the acquiring Party shall have the decision making rights for any
      actions as well as bear the cost burden. For Joint Alliance Patent Rights
      where the Parties are sharing the maintenance costs, GEHC shall have the
      final decision regarding enforcement and defense.

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      (b) With respect to infringement
      of Alliance Patent Rights, if the Party having the right to initiate and
      prosecute an action as provided in this Section 9.3.3 elects not to
      exercise such right, it shall promptly inform the other, and at the
      request of the other Party, the Parties shall agree upon a strategy and
      cost-sharing arrangement under which the other Party may initiate and
      prosecute such action and/or control the defense of such declaratory
      judgment action in the name of one or both of the Parties as necessary
      and/or appropriate. For any action to terminate any infringement of
      Alliance Patent Rights or address any misappropriation or misuse of
      Alliance Know-How, in the event that a first Party is unable to initiate
      or prosecute such action solely in its own name, the other Party will join
      such action voluntarily and will execute and cause its Affiliates to
      execute all documents necessary for the first Party to initiate litigation
      to prosecute and maintain such action.

      (c) In connection with any action
      under this Section 9.3.3, GEHC and Geron will cooperate fully and will
      provide each other with any information or assistance that either may
      reasonably request. Each Party shall keep the other informed of
      developments in any action or proceeding, including, to the extent
      permissible by law, consultation on and approval of any settlement, the
      status of any settlement negotiations and the terms of any offer related
      thereto. Each Party shall have the right to be represented by counsel of
      its own choice. 

	               	
	
      9.3.4
	
      Any recovery obtained by either
      or both GEHC and Geron in connection with or as a result of any action
      contemplated by this Section, whether by settlement or otherwise, shall be
      shared in order as follows: 

      (a) the Party which initiated and
      prosecuted the action shall recoup all of its costs and expenses incurred
      in connection with the action; 

      (b) the other Party shall then, to the
      extent possible, recover its costs and expenses incurred in connection
      with the action; and 

      (c) the amount of any recovery
      remaining shall then be allocated between the Parties on a pro rata basis taking
      into consideration the relative economic losses suffered by each Party.
      

	 	
	
      9.3.5
	
      Except in connection with a
      Change of Control (as defined in Section 11.4.2), if either Party shall
      desire to assign its interest in any Joint Alliance Patent Rights, it
      shall offer first in writing to assign its interest in said patent or
      patent application to the other Party on the same terms and conditions as
      that offered by a prospective bona fide assignee. The Party to whom the
      Joint Alliance Patent Rights is offered shall have sixty (60) days within
      which to accept the offer. If such offer is not accepted within the sixty
      (60) day period, the offering Party may at any time thereafter assign its
      interest in the patent or patent application to a Third Party on no less
      favorable terms and conditions than those offered by the bona fide
      assignee. 

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      9.4
	
      Infringement of Third Party
      Intellectual Property In the event
      of a claim that a Cellular Assay Product infringes intellectual property
      belonging to a Third Party, Geron shall provide to GEHC such assistance as
      GEHC may reasonably request, at GEHC’s expense, in connection with any
      proceedings related to such infringement claim, including but not limited
      to making available to GEHC such records, information and evidence in
      Geron’s possession or control which may be of assistance to GEHC.
      

	               	
	
      9.5
	
      Patent Marking and Product
      Labeling GEHC agrees to include
      patent numbers or appropriate patent marking on all Patent Products sold
      by GEHC to the extent required by law to secure full rights to claim
      damages for patent infringement. The label or package insert of all
      Cellular Assay Products shall include a
      description of permitted field of use of the Cellular Assay Product. GEHC
      shall provide Geron with the template(s) of any label and/or package
      inserts of Cellular Assay Products for review and comment prior to the use
      of such templates. If Geron does not revert to GEHC with any comments
      within fourteen (14) days, then the template for the label and/or package
      insert shall be deemed accepted by Geron. In the event that there are
      material revisions to a template, GEHC shall provide Geron with such
      revision for review and comment prior to its use. If Geron does not revert
      to GEHC with any comments within fourteen (14) days, then the revision
      shall be deemed accepted by Geron. 

	 	
	
      10.
	
      TERM AND TERMINATION
    

	 	
	
      10.1
	
      Term and Expiration
      This Agreement shall be effective as of the Effective Date and unless
      terminated earlier pursuant to Sections 10.2 or 10.3 below, this Agreement
      shall continue in effect until expiration of all royalty obligations
      hereunder.

	 	
	
      10.2
	
      Termination by GEHC Without
      Cause GEHC may terminate this
      Agreement without cause upon ninety (90) days written notice. GEHC’s
      payment obligations under Section 2.4(i) shall survive any such
      termination and shall be due thirty (30) days after the effective date of
      termination, unless GEHC’s payment obligation has already been fulfilled.
      

	 	
	
      10.3
	
      Termination for
      Cause

	 	
	
      10.3.1
	
      Notice and
      Cure In the event that a first
      Party views that the second Party is in material breach of its obligations
      hereunder then the first Party shall provide written notice to the second
      Party providing a detailed explanation of the asserted material breach.
      The second Party shall then either (1) cure such asserted material breach
      within ninety (90) days after actual receipt of such written notice (or
      such longer period as may be agreed by the Parties) or, if the second
      Party disagrees that it is in material breach, (2) initiate dispute
      resolution pursuant to Section 11.8 whereupon the ninety (90) day cure
      period shall be tolled until the dispute is resolved. 

	 	
	
      10.3.2
	
      Material Breach
      Either Party may terminate this
      Agreement upon written notice for a material breach by the other Party but
      only after (1) the non-breaching Party has provided the breaching Party
      with notice and an opportunity to cure as specified in Section 10.3.1 and
      the breaching Party has failed to cure the breach; and (2) any dispute
      resolution invoked under Section 11.8 pertaining to the existence of a
      material breach has been resolved. 

	 	
	
      10.3.3
	
      Financial Insolvency
      Either Party may terminate this
      Agreement upon written notice upon the filing or institution of
      bankruptcy, reorganization, liquidation or receivership proceedings, or
      upon an assignment of a substantial portion of the assets for the benefit
      of creditors by the other Party; provided, however, that in the
      case of any involuntary bankruptcy proceeding such right to terminate
      shall only become effective if the Party consents to the involuntary
      bankruptcy or such proceeding is not dismissed within ninety (90) days
      after the filing thereof.

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      10.3.4
	
      Effect of Termination for
      Cause on Licenses 

      (a) If GEHC terminates this
      Agreement under Section 10.3 on the basis of material breach for which
      GEHC cannot otherwise be made whole by Geron through a legal action for
      damages initiated by GEHC, GEHC’s licenses pursuant to Section 3.1 shall
      continue and shall remain fully subject to all financial obligations set
      forth in Article 5, except that such obligations from the effective date
      of termination shall be reduced by * percent (* %). Notwithstanding the
      above, GEHC shall not have any obligation to make any milestone payments
      under Section 5.1.3 that are due after the effective date of termination
      hereunder.

      If GEHC terminates this Agreement
      under Section 10.3 on the basis of material breach, Geron’s licenses
      pursuant to Section 3.2.1 shall terminate as of such termination date.
      

      (b) If Geron terminates this
      Agreement under Section 10.3 on the basis of material breach, GEHC’s
      licenses pursuant to Section 3.1 shall terminate as of such termination
      date.

	               	
	
      10.4
	
      Invalidity Assertion
      Geron may terminate this Agreement for
      cause upon the initiation by, or on behalf of, GEHC or its Affiliates, of
      any action asserting invalidity of Geron Background Patent Rights, Geron
      Future Patent Rights and Geron’s interest in Alliance Patent
      Rights. 

	 	
	
      10.5
	
      Conversion to Non-exclusive
      License

      GEHC acknowledges that the
      exclusive licenses under Section 3.1 were granted by Geron based on
      certain commercial milestones agreed upon in this Agreement. In the event
      that the following commercial milestones are not reached by the times
      indicated below, Geron may provide a written request that GEHC make the
      milestone payment. In the event, that GEHC fails to make the milestone
      payment to Geron within * (*) days of such request, Geron may convert the
      exclusive license under Section 3.1.1 to a non-exclusive license. If the
      exclusive license under Section 3.1.1 is converted to a non-exclusive
      license under this Section 10.5, GEHC shall no longer have an obligation
      to make any milestone payments that are due after the effective date of
      conversion hereunder. 

      (a) Under Section 4.1, GEHC has a
      goal of commercially launching * Cellular Assay Products within * years of
      the Effective Date. If two Cellular Assay Products are not commercially
      launched within * years of the Effective Date, Geron may request a payment
      of such commercial launch milestone payments set forth in Section 5.1.2 in
      fulfillment of the * commercial launch milestones. 

      (b) Under Section 5.1.3(a), GEHC
      shall pay Geron a * dollars ($ * USD) payment upon first realization of
      total aggregate Net Sales of Cellular Assay Products of * dollars ($ *
      USD). If GEHC does not make total aggregate Net Sales of Cellular Assay
      Products of * dollars ($ * USD) by *, Geron may request the payment of *
      dollars ($ * USD). 

____________________

*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

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      (c) Under Section 5.1.3(b), GEHC
      shall pay Geron a * dollars ($ * USD) payment upon further realization of
      aggregate Net Sales of Cellular Assay Products of another * dollars ($ *
      USD) for a total aggregate Net Sales of * dollars ($ * USD). If GEHC does
      not make total aggregate Net Sales of Cellular Assay Products of * dollars
      ($ * USD) by *, Geron may request the payment of * dollars ($ * USD).
      

      For the avoidance of doubt, any
      payments made in Sections 10.5 (a), (b) and (c) shall be credited to GEHC
      in the event that GEHC does fulfill such milestone after such payment, and
      this Section 10.5 shall not limit any of Geron’s rights under Section
      10.3. In the event that the non-abatement of Infringing Products in
      Section 9.2.3(b)(iii) impacts the Net Sales of GEHC, the parties agree to
      reasonably adjust the deadlines in Section 10.5(b) and 10.5(c) to take
      into consideration the impact of the non-abatement. 

	               	
	
      10.6
	
      Effect of Expiration or
      Termination; Survival
      

	 	
	
      10.6.1
	
      Expiration or termination of this
      Agreement shall not relieve the Parties of any obligation accruing prior
      to such expiration or termination. Any expiration or termination of this
      Agreement shall be without prejudice to the rights of either Party against
      the other accrued or accruing under this Agreement prior to expiration or
      termination, including, without limitation, the obligation to pay
      royalties for Product(s) sold prior to such expiration or termination. The
      provisions of Article 6 shall survive the expiration or termination of
      this Agreement and shall continue in effect for ten (10) years. In
      addition, the provisions of Articles 1, 7, 8, 9 and Sections 3.1.2, 3.2.1,
      5.6, 10.3.4(a), 10.6.1, 11.5, 11.7, 11.8, 11.13, 11.14, and 11.15 shall
      survive any expiration or termination of this Agreement. 

	 	
	
      10.6.2
	
      Return of Information
      No later than sixty (60) days after the
      effective date of any termination, each Party shall return or cause to be
      returned to the other Party all Information in tangible form received from
      the other Party and all copies thereof; provided, however that each Party
      may retain any Information reasonably necessary for such Party’s continued
      practice under any license(s) which do not terminate pursuant to this
      Section, and may keep one copy of Information received from the other
      Party in its confidential files for record purposes. 

	 	
	
      11. 
	
      MISCELLANEOUS 

	 	
	
      11.1
	
      Announcement
      

      Except to the extent required by
      applicable law or as stated in Section 6.3.1, any press release or other
      public announcement or statement regarding the existence of this
      Agreement, or any of its terms or conditions, shall be subject to the
      other party’s written prior approval.

____________________
*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

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      11.2
	
      Force
      Majeure 

	               	
	
      11.2.1
	
      Neither Party shall be held
      liable to the other Party nor be deemed to have defaulted under or
      breached this Agreement for failure or delay in performing any obligation
      under this Agreement to the extent that such failure or delay is caused by
      or results from causes beyond the reasonable control of the affected
      Party, potentially including, but not limited to, embargoes, war, acts of
      war (whether war be declared or not), insurrections, riots, civil
      commotions, strikes, lockouts or other labor disturbances, fire, floods,
      or other acts of God, or acts, omissions or delays in acting by any
      governmental authority or the other Party. The affected Party shall notify
      the other Party of such force majeure circumstances as soon as reasonably
      practical, and shall promptly undertake all reasonable efforts necessary
      to cure such force majeure circumstances. 

	 	
	
      11.3
	
      Export
      Control 

      Both parties undertake to comply
      with all applicable export/reexport control laws and regulations issued by
      the country of origin, the U.S. Government, the United Nations or other
      similar international organization regarding the licensing and use of the
      technology and know-how covered by this Agreement and the transfer of any
      immediate products, including spare parts and accessories, based on such
      technology, including processes and services. The Parties agree that these
      obligations shall survive the termination of this Agreement. For the
      avoidance of doubt, GEHC shall be responsible for obtaining all necessary
      permits for the transport of any and all materials from Geron to a GEHC
      facility during the Alliance Workplan. Geron shall reasonably assist GEHC
      in obtaining all necessary permits, including, but not limited to,
      providing tariff codes and ECCN (Export Control Classification Number) as
      well as any other information GEHC may reasonably request, as well as
      providing and executing any other necessary documents for such
      purposes.

	 	
	
      11.4
	
      Assignment/ Change of
      Control 

	 	
	
      11.4.1
	
      Except as provided in this
      Section 11.4, this Agreement may not be assigned or otherwise transferred,
      nor may any right or obligation hereunder be assigned or transferred, by
      either Party without the consent of the other Party. GEHC may, without
      Geron’s consent, assign this Agreement and its rights and obligations
      hereunder in whole or in part to an Affiliate or in connection with a
      Change of Control (as defined below). Geron may, without GEHC’s consent,
      assign this Agreement and its rights and obligations hereunder (except as
      specified below) in connection with a Change of Control. 

	 	
	
      11.4.2
	
      For purposes of this Section
      11.4, a “Change of
      Control” of a Party shall be deemed to
      occur if such Party is involved in a merger, reorganization or
      consolidation, or if there is a sale of all or substantially all of such
      Party’s assets or business relating to this Agreement or if a person or
      group other than the current controlling person or group shall effectively
      acquire control of the management and policies of such Party.
    

	 	
	
      11.4.3
	
      Any permitted assignee shall
      assume all obligations of its assignor under this Agreement. Any attempted
      assignment not in accordance with this Section 11.4 shall be void.
      

	 	
	
      11.5
	
      Severability
      

	 	
	
      11.5.1
	
      If any one or more of the
      provisions contained in this Agreement is held invalid, illegal or
      unenforceable in any respect, the validity, legality and enforceability of
      the remaining provisions contained herein shall not in any way be affected
      or impaired thereby, unless the absence of the invalidated provision(s)
      adversely affects the substantive rights of the Parties. The Parties shall
      in such an instance use their best efforts to replace the invalid, illegal
      or unenforceable provision(s) with valid, legal and enforceable
      provision(s) which, insofar as practical, implement the purposes of this
      Agreement.

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      11.6
	
      Notices
  

		 
	
      11.6.1
	
      All notices which are required or
      permitted hereunder shall be in writing and sufficient if delivered
      personally, sent by facsimile (and promptly confirmed by personal
      delivery, registered or certified mail or overnight courier), sent by
      nationally-recognized overnight courier or sent by registered or certified
      mail, postage prepaid, return receipt requested, addressed as follows:
      

	               	 
		
      If to Geron,
      to:                    
	
      Geron Corporation
230
      Constitution Drive,
Menlo Park, CA 94025
Attention: Corporate Development
Facsimile No.: (*) *
    

		 	
 
		
      If to GEHC, to:
	Company Secretary
GE Healthcare
      UK Limited
Amersham Place, little Chalfont
Buckinghamshire HP7 9NA
      
United Kingdom
Facsimile No: +
      *
		 	
 
		
      and: 
	
      General Counsel
GE Healthcare Bio-Sciences AB
Björkgatan 30
751 84
      Uppsala
SWEDEN
Facsimile No: + *
      

	 	 
		
      or to such other address(es) as
      the Party to whom notice is to be given may have furnished to the other
      Party in writing in accordance herewith. Any such notice shall be deemed
      to have been given: (a) when delivered, if personally delivered or sent by
      facsimile on a business day (or if delivered or sent on a non-business
      day, then on the next business day); (b) on the business day after
      dispatch, if sent by nationally-recognized overnight courier; or (c) on
      the fifth (5th) business day following the date of mailing, if
      sent by mail.

____________________
*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

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      11.7
	
      Applicable
      Law 

	               	
	
      11.7.1
	
      This Agreement shall be governed
      by and construed in accordance with the laws of the State of Delaware and
      the patent laws of the United States, without reference to any rules of
      conflict of laws. 

	 	
	
      11.8
	
      Dispute
      Resolution 

	 	
	
      11.8.1
	
      The Parties shall negotiate in
      good faith and use reasonable efforts to settle any dispute, controversy
      or claim arising from or related to this Agreement or the breach thereof.
      If the Parties do not fully settle, and a Party wishes to pursue the
      matter, each such dispute, controversy or claim that is not an “Excluded
      Claim” shall be finally resolved by binding arbitration in accordance with
      the Commercial Arbitration Rules and Supplementary Procedures for Large
      Complex Disputes of the American Arbitration Association (“AAA”), and
      judgment on the arbitration award may be entered in any court having
      jurisdiction thereof. 

	 	
	
      11.8.2
	
      The arbitration shall be
      conducted by a panel of three persons experienced in the pharmaceutical
      business: within thirty (30) days after initiation of arbitration, each
      Party shall select one person to act as arbitrator; and the two
      Party-selected arbitrators shall select a third arbitrator within thirty
      (30) days of their appointment. If the arbitrators selected by the Parties
      are unable or fail to agree upon the third arbitrator, the third
      arbitrator shall be appointed by the AAA. The place of arbitration shall
      be New York, New York, and all proceedings and communications shall be in
      English. 

	 	
	
      11.8.3
	
      Either Party may apply to the
      arbitrators for interim injunctive relief until the arbitration award is
      rendered or the controversy is otherwise resolved. Either Party also may,
      without waiving any remedy under this Agreement, seek from any court
      having jurisdiction any injunctive or provisional relief necessary to
      protect the rights or property of that Party pending the arbitration
      award. Each Party shall bear its own costs and expenses and attorneys’
      fees and an equal share of the arbitrators’ fees and any administrative
      fees of arbitration. 

	 	
	
      11.8.4
	
      Except to the extent necessary to
      confirm an award or as may be required by law, neither a Party nor an
      arbitrator may disclose the existence, content, or results of an
      arbitration without the prior written consent of both Parties. In no event
      shall an arbitration be initiated after the date when commencement of a
      legal or equitable proceeding based on the dispute, controversy or claim
      would be barred by the applicable Delaware statute of limitations.
      

	 	
	
      11.8.5
	
      The Parties agree that, in the
      event of a dispute over the nature or quality of performance under this
      Agreement, neither Party may terminate this Agreement until final
      resolution of the dispute through arbitration or other judicial
      determination. The Parties further agree that any payments made pursuant
      to this Agreement pending resolution of the dispute shall be refunded if
      an arbitrator or court determines that such payments are not due.
      

	 	
	
      11.8.6
	
      As used in this Section, the term
      “Excluded Claim” shall mean a dispute, controversy or claim that
      concerns (a) the validity or infringement of a patent, trademark or
      copyright; or (b) any antitrust, anti-monopoly or competition law or
      regulation, whether or not statutory. 

	 	
	
      11.9
	
      Non-solicitation
      

      Except as provided for under
      Section 2.4(a), during the term of this Agreement and for a period of one
      (1) year after the termination or expiration of this Agreement, the
      parties will not directly recruit any person employed by the other party
      to this Agreement. 

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      11.10
	
      Entire Agreement;
      Amendments 

		 
	
      11.10.1
	
      This Agreement contains the
      entire understanding of the Parties with respect to the Alliance Program
      and the licenses granted hereunder. Any other express or implied
      agreements and understandings, either oral or written, with regard to the
      Alliance Program or the licenses granted hereunder are superseded by the
      terms of this Agreement. This Agreement may be amended, or any term hereof
      modified, only by a written instrument duly executed by authorized
      representatives of both Parties hereto. The Agreement may be executed in
      two or more counterparts, each of which shall be deemed an original, but
      all of which together shall constitute one and the same instrument
      

	               	 
	
      11.11
	
      Headings
    

		 
	
      11.11.1
	
      The captions to the several
      Articles and Sections hereof are not a part of this Agreement, but are
      merely for convenience to assist in locating and reading the several
      Articles and Sections hereof. 

		 
	
      11.12
	
      Independent
      Contractors

		 
	
      11.12.1
	
      It is expressly agreed that Geron
      and GEHC shall be independent contractors and that the relationship
      between the Parties shall not constitute a partnership, joint venture or
      agency. Neither Geron nor GEHC shall have
      the authority to make any statements, representations or commitments of
      any kind, or to take any action, which shall be binding on the other
      Party, without the prior written consent of the other Party.
  

		 
	
      11.13
	
      Waiver
  

		 
	
      11.13.1
	
      The waiver by either Party hereto
      of any right hereunder, or of any failure of the other Party to perform,
      or of any breach by the other Party, shall not be deemed a waiver of any
      other right hereunder or of any other breach by or failure of such other
      Party, whether of a similar nature or otherwise. 

		 
	
      11.14
	
      Cumulative
      Remedies 

	 	
	
      11.14.1
	
      No remedy referred to in this
      Agreement is intended to be exclusive, but each shall be cumulative and in
      addition to any other remedy referred to in this Agreement or otherwise
      available under law. 

	 	
	
      11.15
	
      Waiver of Rule of
      Construction
  

	 	
	
      11.15.1
	
      Each Party has had the
      opportunity to consult with counsel in connection with the review,
      drafting and negotiation of this Agreement. Accordingly, the rule of
      construction that any ambiguity in this Agreement shall be construed
      against the drafting Party shall not apply.

 

[SIGNATURE PAGE FOLLOWS] 

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     IN WITNESS
WHEREOF, the Parties have executed this
Agreement as of the date first set forth above. 

	GE HEALTHCARE UK
      LIMITED 	          	GERON CORPORATION
    
	
 
	By: 	/s/ Konstantin
      Fiedler 		By: 	/s/ David J.
      Earp 
	 				
	Name:   	Konstantin Fiedler, Ph.D.
    		Name:   	David J. Earp, J.D., Ph.D.
    
	 				
	Title: 	General Manager 	 	Title: 	Chief Patent Counsel

		Cell Technologies 		 	Senior Vice President
  
					Business Development

	
 
	Date: 	6/29/2009 		Date: 	June 29,
      2009 

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SCHEDULE
1.21 

GERON BACKGROUND PATENT
RIGHTS 

	Title	Country	Status	Patent
      /
				Application
      No.
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
  

____________________
*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

39 of 61
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	Title	Country	Status	Patent
      /
				Application
      No.
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*

____________________
*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

40 of 61
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	Title	Country	Status	Patent
      /
				Application
      No.
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*

____________________
*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

41 of 61
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	Title	Country	Status	Patent
      /
				Application
      No.
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*

____________________
*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

42 of 61
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	Title	Country	Status	Patent
      /
				Application
      No.
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*
	*	*	*	*

____________________
*: Certain information on this page has
been omitted and filed separately with the Commission. Confidential treatment
has been requested with respect to the omitted portions. 

43 of 61
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Limited 

	Title	Country	Status	Patent
      /
				Application
      No.
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	Title 	Country 	Status 	Patent
      / 
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information on this page has been omitted and filed separately with the
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	*  	*  	*  	* 

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SCHEDULE 2.2 

ALLIANCE WORKPLAN 

*

 

 

 

 

 

 

 

 

 

 

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*: Certain information on this page has
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has been requested with respect to the omitted portions. 

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SCHEDULE 2.4 (b) 

CELL BANK COSTS 

*

	Item  	Cost
      ($USD)  
	*  	$
      *(x *)  
	*  	$
      *(x *)  
	Total
      *  	$
      *    

*

	Attribute  	Method  	Cost
      ($USD)  
	*  	*  	$ *    
	*  	*  	$ *    
	*  	*  	$ *    
	*  	*  	$ *    
	*  	*  	$ * (x
      *)  
	*  	*  	$ *    
	*  	*  	$ * (x
      *)  
	*  	*  	$ * (x
      *)  
	*  	*  	$ * (x
      *)  
	Total
      *  	  	$
      *   

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*: Certain
information on this page has been omitted and filed separately with the
Commission. Confidential treatment has been requested with respect to the
omitted portions. 

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SCHEDULE 5.2.2(a) 

ROYALTY STEP-UP 

	Patent
      Products  	Royalty payable to
      Geron *  	Royalty payable to
      Geron *  
	Patent Products in
      Sections  	  	 
	5.2.1(a) and
      5.2.2(a)(i)  	* %  	* %  
	Patent Products in
      Sections  	  	  
	5.2.1(b) and
      5.2.2(a)(ii)  	* %  	* %  

SCHEDULE 5.2.2(b) 

ROYALTY STACKING 

	Patent Products 
	 Minimum royalty payable
      to Geron * 	 Minimum royalty payable to Geron
      * 
	Patent Products in
      Sections  	 	 
	5.2.1(a) and
      5.2.2(a)(i)  	* % 	* % 
	Patent Products in
      Sections  	 	  
	5.2.1(b) and
      5.2.2(a)(ii)  	* % 	*
% 

____________________

*: Certain information on this page has been omitted and filed
separately with the Commission. Confidential treatment has been requested with
respect to the omitted portions.

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SCHEDULE 6.3.1. 

JOINT PRESS
RELEASE 

PRESS RELEASE 

GE Healthcare and Geron announce
exclusive global agreement to commercialize stem cell drug discovery
technologies 

CHALFONT ST GILES, UK & MENLO PARK,
CALIFORNIA, 30 JUNE 2009 - GE Healthcare, a unit of General Electric Company
(NYSE: GE), and Geron Corporation (Nasdaq: GERN) today announced that they have
entered into a global exclusive license and alliance agreement to develop and
commercialize cellular assay products derived from human embryonic stem cells
(hESCs) for use in drug discovery, development and toxicity screening. Financial
terms are not being disclosed. 

“This agreement marks a further step in
GE Healthcare’s cell technology strategy aimed at addressing the potential of
stem cell applications in the drug discovery and therapy markets,” said
Konstantin Fiedler, General Manager, Cell Technologies, GE Healthcare.
“Combining GE Healthcare’s reach into the drug discovery and research markets as
well our expertise in cell manufacturing with Geron’s expertise and IP in hESCs,
means that together, we will be able together to accelerate the development of
hESC-derived products for drug discovery and development.” 

“Geron is intensely focused on
developing hESC-based cell therapies, and the expertise that we have developed
in scalable manufacturing and differentiation of hESCs to specific cell types is
directly applicable to the production of these cells for drug discovery,” said
David J. Earp, J.D., Ph.D. Geron’s Senior Vice President of Business Development
and Chief Patent Counsel. “In GE Healthcare we have found the ideal partner with
whom to develop this near-term commercial opportunity. There is much
anticipation of the availability of hESC-derived cells for drug discovery
applications within the pharmaceutical industry and we look forward to working
closely with GE Healthcare to deliver these promising products.” 

Under the terms of the agreement, GE
Healthcare has been granted an exclusive license under Geron’s extensive
intellectual property portfolio covering the growth and differentiation of
hESCs, as well as a sublicense under Geron’s rights to the foundational hESC
patents held by the Wisconsin Alumni Research Foundation. GE Healthcare and
Geron have established a multi-year alliance program under which scientists from
the two companies will work closely together to develop hESC-based products for
drug discovery. The program will use stem cells derived from hESC lines listed
on the NIH Human Pluripotent Stem Cell Registry. GE Healthcare will fund the
R&D program and will be responsible for manufacturing, sales and
distribution of products developed under the agreement. 

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Up to three quarters of toxicity
problems are not detected until preclinical or later stages of drug development
and this significantly increases the cost of developing new drugs. Earlier
detection of toxicity problems could reduce both overall drug development costs
and potentially harmful patient exposure in clinical trials. The GE Healthcare –
Geron alliance will develop cellular assay products derived from hESCs that
could be used in early in vitro screening of drug candidates. 

Cells derived from hESCs have similar
attributes to their counterparts in the body, and can therefore be used to
predict many pharmacological characteristics of a drug candidate. Cardiotoxicity
and hepatotoxicity are the most common causes of drug safety liabilities and
withdrawal of drugs during development. Derivation of functional cell types from
hESCs, in particular hepatocytes of the liver and cardiomyocytes of the heart,
could provide a reliable supply of cells to perform metabolism, biodistribution
and toxicity testing of drug candidates.

The combination of GE Healthcare’s Cell
Factory capability for cell reproduction and manufacturing with Geron’s hESC
technology makes it possible to generate a large scale supply of hESC-derived
cells which retain normal cellular functions and could address bottlenecks in
new drug research and accelerate the drug development process. The first
products developed in the GE Healthcare and Geron alliance are expected to be
available by early 2010, with a pipeline of products to follow.

Under the terms of the agreement,
intellectual property rights arising from the alliance program research will be
shared, with GE Healthcare receiving rights for the development of drug
discovery technologies, and Geron receiving rights for cellular therapies
applications. 

----------------ends------------------

About GE Healthcare 

GE Healthcare provides transformational
medical technologies and services that are shaping a new age of patient care.
Our broad expertise in medical imaging and information technologies, medical
diagnostics, patient monitoring systems, drug discovery, biopharmaceutical
manufacturing technologies, performance improvement and performance solutions
services help our customers to deliver better care to more people around the
world at a lower cost. In addition, we partner with healthcare leaders, striving
to leverage the global policy change necessary to implement a successful shift
to sustainable healthcare systems. 

Our "healthymagination" vision for the
future invites the world to join us on our journey as we continuously develop
innovations focused on reducing costs, increasing access and improving quality
and efficiency around the world. Headquartered in the United Kingdom, GE
Healthcare is a $17 billion unit of General Electric Company (NYSE: GE).
Worldwide, GE Healthcare employs more than 46,000 people committed to serving
healthcare professionals and their patients in more than 100 countries. For more
information about GE Healthcare, visit our website at www.gehealthcare.com.

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About Geron 

Geron is a biopharmaceutical company
that is developing first-in-class therapeutic products for the treatment of
cancer and chronic degenerative diseases, including spinal cord injury, heart
failure and diabetes. The products are based on our core expertise in telomerase
and human embryonic stem cells. For more information about Geron, visit
www.geron.com.

Safe Harbor 

This news release may contain
forward-looking statements made pursuant to the “safe harbor” provisions of the
Private Securities Litigation Reform Act of 1995. Investors are cautioned that
statements in this press release regarding potential applications of Geron’s
human embryonic stem cell technology constitute forward-looking statements that
involve risks and uncertainties, including, without limitation, risks inherent
in the development and commercialization of potential products, uncertainty of
clinical trial results or regulatory approvals or clearances, need for future
capital, dependence upon collaborators and maintenance of our intellectual
property rights. Actual results may differ materially from the results
anticipated in these forward-looking statements. Additional information on
potential factors that could affect our results and other risks and
uncertainties are detailed from time to time in Geron’s periodic reports,
including the annual report on Form 10-Q for the quarter ended March 31, 2009.

	Contact  	   
	GE
      Healthcare:  	Geron:  
	Conor
      McKechnie  	Anna
      Krassowska  
	Media
      Relations  	Investor and
      Media Relations  
	conor.mckechnie@ge.com  	info@geron.com  
	+44 771 751
      7028  	650-473-7765  

 

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SCHEDULE 7.1.1 

GERON EXCEPTIONS 

None 

 

SCHEDULE 7.1.1(g) 

The warranty in Section 7.1.1(g) is
limited to intellectual property relating to human embryonic stem cells. It
excludes all other intellectual property owned or assigned to Geron, such as
intellectual property relating to telomerase technology and nuclear transfer
(cloning) technology. 

 

 

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SCHEDULE 7.1.2 

GEHC EXCEPTIONS

None

 

 

 

 

 

 

 

 

 

 

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SECOND AMENDMENT AGREEMENT

This SECOND AMENDMENT AGREEMENT (this “Amendment”) is made as of the 30th day of
June, 2009 among:

(a) CORE MOLDING TECHNOLOGIES, INC., a Delaware corporation (“Core Molding”);

(b) CORECOMPOSITES DE MEXICO, S. DE R.L. DE C.V., a sociedad de responsabilidad limitada de
capital variable organized under the laws of Mexico (“Core Mexico” and, together with Core Molding,
collectively, “Borrowers” and, individually, each a “Borrower”);

(c) the Lenders, as defined in the Credit Agreement, as hereinafter defined; and

(d) KEYBANK NATIONAL ASSOCIATION, as the lead arranger, sole book runner and administrative
agent for the Lenders under the Credit Agreement (“Agent”).

WHEREAS, Borrowers, Agent and the Lenders are parties to that certain Credit Agreement, dated
as of December 9, 2008, that provides, among other things, for loans and letters of credit
aggregating Thirty-Four Million Eleven Thousand Fifty-Six and 15/100 Dollars ($34,011,056.15), all
upon certain terms and conditions (as amended and as the same may from time to time be further
amended, restated or otherwise modified, the “Credit Agreement”);

WHEREAS, Borrowers, Agent and the Lenders desire to amend the Credit Agreement to modify
certain provisions thereof and add certain provisions thereto;

WHEREAS, each capitalized term used herein and defined in the Credit Agreement, but not
otherwise defined herein, shall have the meaning given such term in the Credit Agreement; and

WHEREAS, unless otherwise specifically provided herein, the provisions of the Credit Agreement
revised herein are amended effective as of the date of this Amendment;

NOW, THEREFORE, in consideration of the premises and of the mutual covenants herein and for
other valuable consideration, Borrowers, Agent and the Lenders agree as follows:

1. Amendment to Definitions. Section 1.1 of the Credit Agreement is hereby amended to
delete the definitions of “Applicable Margin”, “Base Rate”, “Commitment Period”, “Consolidated
EBITDA”, “Daily LIBOR Rate” and “Eurodollar Rate” therefrom and to insert in place thereof,
respectively, the following:

“Applicable Margin” means:

(a) for any date prior to the Second Amendment Effective Date, the Applicable
Margin in effect prior to the Second Amendment Effective Date;

(b) effective on the Second Amendment Effective Date through August 31, 2009,
(i) four hundred fifty (450.00) basis points for Eurodollar Loans, (ii) four hundred
fifty (450.00) basis points for Daily LIBOR Loans, and (iii) three hundred (300.00)
basis points for Base Rate Loans; and

(c) commencing with the Consolidated financial statements of Core Molding for
the fiscal quarter ending June 30, 2009, the number of basis points (depending upon
whether Loans are Eurodollar Loans, Daily LIBOR Loans or Base Rate Loans) set forth
in the following matrix, based upon the result of the computation of the Leverage
Ratio as set forth in the Compliance Certificate for such fiscal period, shall be
used to establish the number of basis points that will go into effect on September
1, 2009 and, thereafter, as set forth in each successive Compliance Certificate, as
provided below:

	 	 	 	 	 	 	 
	Leverage Ratio	 	Applicable Basis	 	Applicable Basis	 	Applicable Basis
	 	 	Points for Daily	 	Points for	 	Points for
	 	 	LIBOR Loans	 	Eurodollar Loans	 	Base Rate Loans
	Greater than 2.25

to 1.00

	 	

450.00
	 	

450.00
	 	

300.00
	Less than or equal

to 2.25 to 1.00

	 	

425.00
	 	

425.00
	 	

275.00

After September 1, 2009, changes to the Applicable Margin shall be effective on the
first day of each fiscal quarter following the date upon which Agent should have
received, pursuant to Section 5.3(a) hereof, the Consolidated financial statements
of Core Molding (provided that, if the internal financial statements required by
Section 5.3(a) hereof are not consistent with the audited financial statements
required by Section 5.3(b) hereof, the Applicable Margin shall be retroactively
adjusted upon receipt of the audited statements). The above matrix does not modify
or waive, in any respect, the requirements of Section 5.7 hereof, the rights of
Agent and the Lenders to charge the Default Rate, or the rights and remedies of
Agent and the Lenders pursuant to Articles VII and VIII hereof. Notwithstanding
anything herein to the contrary, (i) during any period when Borrowers shall have
failed to timely deliver the Consolidated financial statements pursuant to Section
5.3(a) or (b) hereof, or the Compliance Certificate pursuant to Section 5.3(c)
hereof, until such time as the appropriate Consolidated financial statements and
Compliance Certificate are delivered, the Applicable Margin shall be the highest
rate per annum indicated in the above pricing grid for Loans of that type regardless
of the Leverage Ratio at such time, and (ii) in the event that any financial
information or certification provided to Agent in the Compliance Certificate is
shown to be inaccurate (regardless of whether this Agreement or the Commitment is in
effect when such inaccuracy is discovered), and such inaccuracy, if corrected, would
have led to the application of a higher Applicable Margin for any period (an
“Applicable Margin Period”) than the Applicable Margin applied for such Applicable
Margin Period, then (A) Borrowers shall immediately deliver to Agent a corrected
Compliance Certificate for such Applicable Margin Period, (B) the Applicable Margin
shall be determined based on such corrected Compliance Certificate, and (C)
Borrowers shall immediately pay to Agent the accrued additional interest owing as a
result of such increased Applicable Margin for such Applicable Margin Period.

“Base Rate Loan” means a Revolving Loan described in Section 2.2(a) hereof, a portion
of the Term Loan described in Section 2.3 hereof, a Capex Draw Loan described in Section
2.4(a) hereof, a portion of the Capex Term Loan described in Section 2.4(b) hereof, or the
Mexican Loan described in Section 2.5 hereof, that shall be denominated in Dollars and on
which Borrowers shall pay interest at a rate based on the Base Rate.

“Commitment Period” means (a) with respect to the Revolving Credit Commitment, the
period from the Closing Date to April 30, 2011, (b) with respect to the Capex Draw
Commitment, the period from the Closing Date to the Capex Conversion Date, (c) with respect
to the Mexican Loan Commitment, the period from the Closing Date to the Mexican Line
Conversion Date, and (d) with respect to the IDRB Letter of Credit Commitment, the period
from the Closing Date to April 17, 2014, or, in the case of each (a), (b), (c) and (d), such
earlier date on which the Commitment shall have been terminated pursuant to Article VIII
hereof.

“Consolidated EBITDA” means, for any period, as determined on a Consolidated basis and
in accordance with GAAP, (a) Consolidated Net Earnings for such period plus, without
duplication, the aggregate amounts deducted in determining such Consolidated Net Earnings in
respect of (i) Consolidated Interest Expense, (ii) Consolidated Income Tax Expense,
(iii) Consolidated Depreciation and Amortization Charges, (iv) reasonable non-recurring
non-cash losses not incurred in the ordinary course of business, (v) non-cash compensation
expenses recognized under Statement of Financial Accounting Standards 123R in connection
with Core Molding’s equity incentive stock option plan and restricted stock grants; (vi)
transition and relocation costs incurred in construction of the Mexican Project (up to an
aggregate amount not to exceed Three Million Two Hundred Thousand Dollars ($3,200,000) from
September 1, 2008 through July 31, 2009), and (vii) non-cash post-retirement expenses minus
retirement benefits paid in cash; minus (b) to the extent included in Consolidated Net
Earnings for such period, non-recurring gains not incurred in the ordinary course of
business.

“Daily LIBOR Rate” means, for any Daily Interest Period:

(a) with respect to a Daily LIBOR Loan that is a Revolving Loan or a Swing
Loan, a per annum rate of interest (rounded upwards, if necessary, to the nearest
1/16th of 1%) at which, determined by Agent in accordance with its usual
procedures (which determination shall be conclusive absent manifest error) as of
approximately 11:00 A.M. (London time) two Business Days prior to the beginning of
such Daily Interest Period, Dollar deposits in immediately available funds in an
amount comparable to such Loan and with a maturity of one day are offered to the
prime banks by leading banks in the London interbank market; and

(b) with respect to a Daily LIBOR Loan that is the Mexican Loan, a rate per
annum equal to a per annum the rate of interest, as of approximately 11:00 A.M.
(London time) two Business Days prior to such date as the rate in the London
interbank market for Dollar deposits in immediately available funds in an amount
comparable to such Loan and with a maturity of one day are offered to the prime
banks by leading banks in the London interbank market.

“Eurodollar Rate” means, with respect to a Eurodollar Loan, for any Interest Period, a
rate per annum equal to the quotient obtained by dividing (a) the rate of interest,
determined by Agent in accordance with its usual procedures (which determination shall be
conclusive absent manifest error) as of approximately 11:00 A.M. (London time) two Business
Days prior to the beginning of such Interest Period pertaining to such Eurodollar Loan, as
listed on British Bankers Association Interest Rate LIBOR 01 or 02 as provided by Reuters or
Bloomberg (or, if for any reason such rate is unavailable from Reuters or Bloomberg, from
any other similar company or service that provides rate quotations comparable to those
currently provided by Reuters or Bloomberg) as the rate in the London interbank market for
Dollar deposits in immediately available funds with a maturity comparable to such Interest
Period, provided that, in the event that such rate quotation is not available for any
reason, then the Eurodollar Rate shall be the average of the per annum rates at which
deposits in immediately available funds in Dollars for the relevant Interest Period and in
the amount of the Eurodollar Loan to be disbursed or to remain outstanding during such
Interest Period, as the case may be, are offered to Agent (or an affiliate of Agent, in
Agent’s discretion) by prime banks in any Eurodollar market reasonably selected by Agent,
determined as of 11:00 A.M. (London time) (or as soon thereafter as practicable), two
Business Days prior to the beginning of the relevant Interest Period pertaining to such
Eurodollar Loan; by (b) 1.00 minus the Reserve Percentage.

2. Additions to Definitions. Section 1.1 of the Credit Agreement is hereby amended to
add the following new definitions thereto:

“Second Amendment Effective Date” means June 30, 2009.

3. Retroactive Amendment to Interest Provisions. Section 2.7 of the Credit Agreement
is hereby retroactively amended, effective as of March 31, 2009, to delete subsection (c) therefrom
and to insert in place thereof the following:

(c) Term Loan.

(i) Base Rate Loan. With respect to any portion of the Term Loan that
is a Base Rate Loan, Core Molding shall pay interest on the unpaid principal amount
thereof outstanding from time to time from the date thereof until paid, commencing
April 1, 2009, and continuing on each Regularly Scheduled Payment Date thereafter
and at the maturity thereof, at a rate per annum equal to the Base Rate from time to
time in effect.

(ii) Eurodollar Loans. With respect to any portion of the Term Loan
that is a Eurodollar Loan, Core Molding shall pay interest on the unpaid principal
amount of such Eurodollar Loan outstanding from time to time, fixed in advance on
the first day of the Interest Period applicable thereto through the last day of the
Interest Period applicable thereto, at a rate per annum equal to two hundred
(200.00) basis points in excess of the Eurodollar Rate). Interest on such
Eurodollar Loan shall be payable on each Interest Adjustment Date with respect to an
Interest Period. Notwithstanding anything in this Agreement to the contrary, all
Eurodollar Loans that are a portion of the Term Loan shall have an Interest Period
of one month.

4. Closing Deliveries. Concurrently with the execution of this Amendment, Borrowers
shall:

(a) cause each Guarantor of Payment to execute the attached Guarantor Acknowledgment
and Agreement; and

(b) pay all legal fees and expenses of Agent in connection with this Amendment.

5. Representations and Warranties. Borrowers hereby represent and warrant to Agent
and the Lenders that (a) Borrowers have the legal power and authority to execute and deliver this
Amendment; (b) the officers executing this Amendment have been duly authorized to execute and
deliver the same and bind Borrowers with respect to the provisions hereof; (c) the execution and
delivery hereof by Borrowers and the performance and observance by Borrowers of the provisions
hereof do not violate or conflict with the Organizational Documents of Borrowers or any law
applicable to Borrowers or result in a breach of any provision of or constitute a default under any
other agreement, instrument or document binding upon or enforceable against Borrowers; (d) no
Default or Event of Default exists, nor will any occur immediately after the execution and delivery
of this Amendment or by the performance or observance of any provision hereof; (e) each of the
representations and warranties contained in the Loan Documents is true and correct in all material
respects as of the Second Amendment Effective Date as if made on the Second Amendment Effective
Date, except to the extent that any such representation or warranty expressly states that it
relates to an earlier date (in which case such representation or warranty is true an correct in all
material respects as of such earlier date); (f) Borrowers are not aware of any claim or offset
against, or defense or counterclaim to, Borrowers’ obligations or liabilities under the Credit
Agreement or any Related Writing; and (g) this Amendment constitutes a valid and binding obligation
of Borrowers in every respect, enforceable in accordance with its terms.

6. No Course of Dealing. Borrowers acknowledge and agree that this Amendment is not
intended, nor shall it, establish any course of dealing with respect to the various provisions
amended herein, or otherwise, among Borrowers, Agent and the Lenders that is inconsistent with the
express terms of the Loan Documents.

7. Waiver and Release. Borrowers, by signing below, hereby waive and release Agent
and each of the Lenders, and their respective directors, officers, employees, attorneys, affiliates
and subsidiaries, from any and all claims, offsets, defenses and counterclaims of which Borrowers
are aware, such waiver and release being with full knowledge and understanding of the circumstances
and effect thereof and after having consulted legal counsel with respect thereto.

8. References to Credit Agreement and Ratification. Each reference that is made in
the Credit Agreement or any other Related Writing shall hereafter be construed as a reference to
the Credit Agreement as amended hereby. Except as herein otherwise specifically provided, all terms
and provisions of the Credit Agreement are confirmed and ratified and shall remain in full force
and effect and be unaffected hereby. This Amendment is a Related Writing.

9. Counterparts. This Amendment may be executed in any number of counterparts, by
different parties hereto in separate counterparts and by facsimile signature, each of which, when
so executed and delivered, shall be deemed to be an original and all of which taken together shall
constitute but one and the same agreement.

10. Headings. The headings, captions and arrangements used in this Amendment are for
convenience only and shall not affect the interpretation of this Amendment.

11. Severability. Any term or provision of this Amendment held by a court of
competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder
of this Amendment and the effect thereof shall be confined to the term or provision so held to be
invalid or unenforceable.

12. Governing Law. The rights and obligations of all parties hereto shall be governed
by the laws of the State of Ohio, without regard to principles of conflicts of laws.

[Remainder of page intentionally left blank.]

11466245.4

JURY TRIAL WAIVER. BORROWERS, AGENT AND THE LENDERS, TO THE EXTENT
PERMITTED BY LAW, EACH HEREBY WAIVES ANY RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE,
WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE, AMONG BORROWERS, AGENT AND THE LENDERS, OR ANY
THEREOF, ARISING OUT OF, IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP
ESTABLISHED AMONG THEM IN CONNECTION WITH THIS AMENDMENT OR ANY NOTE OR OTHER INSTRUMENT, DOCUMENT
OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED THERETO.
THIS WAIVER SHALL NOT IN ANY WAY AFFECT, WAIVE, LIMIT, AMEND OR MODIFY AGENT’S OR ANY LENDER’S
ABILITY TO PURSUE REMEDIES PURSUANT TO ANY CONFESSION OF JUDGMENT OR COGNOVIT PROVISION CONTAINED
IN ANY NOTE OR OTHER INSTRUMENT, DOCUMENT OR AGREEMENT AMONG BORROWERS, AGENT AND THE LENDERS.

IN WITNESS WHEREOF, the parties have executed and delivered this Amendment in Columbus, Ohio
as of the date first set forth above.

	 
	CORE MOLDING TECHNOLOGIES, INC.

By: /s/ Herman F. Dick, Jr.

Name: Herman F. Dick, Jr

Title: V.P., Secretary, Treasurer and CFO

	CORECOMPOSITES DE MEXICO, S. DE R.L. DE C.V.

By: /s/ Herman F. Dick, Jr.

Name: Herman F. Dick, Jr.

Title: V.P., Secretary, Treasurer and CFO

	KEYBANK NATIONAL ASSOCIATION,

as Agent and as a Lender

By: /s/ Roger D. Campbell

Name: Roger D. Campbell

Title: Senior Vice President

ACKNOWLEDGMENT AND AGREEMENT

The undersigned consent and agree to and acknowledge the terms of the foregoing Second
Amendment Agreement dated as of June 30, 2009. The undersigned further agree that the obligations
of the undersigned pursuant to the Guaranty of Payment executed by the undersigned are hereby
ratified and shall remain in full force and effect and be unaffected hereby.

The undersigned hereby waive and release Agent and the Lenders and their respective directors,
officers, employees, attorneys, affiliates and subsidiaries from any and all claims, offsets,
defenses and counterclaims of any kind or nature, absolute and contingent, of which the undersigned
are aware or should be aware, such waiver and release being with full knowledge and understanding
of the circumstances and effect thereof and after having consulted legal counsel with respect
thereto.

JURY TRIAL WAIVER. THE UNDERSIGNED, TO THE EXTENT PERMITTED BY LAW, HEREBY WAIVE ANY
RIGHT TO HAVE A JURY PARTICIPATE IN RESOLVING ANY DISPUTE, WHETHER SOUNDING IN CONTRACT, TORT OR
OTHERWISE, AMONG BORROWERS, AGENT, THE LENDERS AND THE UNDERSIGNED, OR ANY THEREOF, ARISING OUT OF,
IN CONNECTION WITH, RELATED TO, OR INCIDENTAL TO THE RELATIONSHIP ESTABLISHED AMONG THEM IN
CONNECTION WITH THIS AMENDMENT OR ANY NOTE OR OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR
DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED THERETO. THIS WAIVER SHALL NOT IN ANY
WAY AFFECT, WAIVE, LIMIT, AMEND OR MODIFY THE ABILITY OF AGENT AND LENDERS TO PURSUE REMEDIES
PURSUANT TO ANY CONFESSION OF JUDGMENT OR COGNOVIT PROVISION CONTAINED IN ANY NOTE OR OTHER
INSTRUMENT, DOCUMENT OR AGREEMENT BETWEEN BORROWER, AGENT AND LENDERS.

	 	 	 
	CORE COMPOSITES CINCINNATI, LLC

By: /s/ Herman F. Dick, Jr.

Name: Herman F. Dick, Jr.

Title: V.P., Secretary, Treasurer and CFO
	 	CORE COMPOSITES CORPORATION

By: /s/ Herman F. Dick, Jr.

Name: Herman F. Dick, Jr.

Title: V.P., Secretary, Treasurer and CFO

	 	 	CORE AUTOMOTIVE TECHNOLOGIES

LLC

By: Core Molding Technologies, Inc.,

Its sole member

By: /s/ Herman F. Dick, Jr.

Name: Herman F. Dick, Jr.

Title: V.P., Secretary, Treasurer and CFO

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