Document:

License Agreement between Senetek PLC and Ofra Cosmetics

 Exhibit 10.95 
 LICENSE AGREEMENT 
 This License Agreement (this “Agreement”) is made and entered into as
of September     , 2005, by and between Senetek PLC, a British public limited company registered at 3 Howard Road, Eaton Socon, St Neots, Cambridgeshire, PE19 3ET, England and with its corporate headquarters located at 620
Airpark Road, Napa, California 94558 (“Senetek”), and Ofra Cosmetics LLC, a                  limited liability company with its headquarters
located at 220 NW 32nd Street, Suite 200, Pompano Beach, Florida 33069 (“Licensee”). 
 BACKGROUND 
  

	 	A.	Senetek has developed and holds certain patents and other proprietary intellectual property and other rights relating to the use as a skin care or cosmetic product of formulations
containing Kinetin. 

  

	 	B.	Senetek asserted a claim for patent infringement against Licensee and as part of the accord between the parties reached in 2003 settling said claim Senetek is willing the license to
Licensee rights to manufacture, market, sell and distribute through the Authorized Channels within the Territory (both as defined below) specific formulations of product containing Kinetin on the terms of this Agreement.

 Accordingly, in consideration of the mutual promises, covenants, and conditions set forth below, the parties agree as
follows: 
 1 DEFINITIONS 
 When used in
this Agreement, each of the following capitalized terms shall have the respective meanings set forth in this Article. 
 1.1
“Affiliates” means any corporation, partnership, proprietorship or other legal entity directly or indirectly controlled by, controlling, or under common control with another legal entity, “control” meaning, for
purposes hereof, the effective power to elect at least a majority of the Board of Directors or other management body of a legal entity or to effectively direct the management of a legal entity, by the ownership of voting securities, by contract, or
otherwise. 
 1.2 “Agreement Date” means the date of this Agreement first set forth above. 
 1.3 “Authorized Channels” means collectively: 
 (i) the “Direct to Consumer Channel” comprised of direct-to-consumer promotion and/or sales through live and recorded
network and cable television (such as commercials or programming on stations such as QVC and The Home Shopping Channel), program length commercials for broadcast on cable television, and consumer-directed telemarketing, direct mail and print
marketing; 

 (ii) the “Direct to Retail Store Channel” comprised of sales to retail
outlets and specialty stores where no wholesaler or distributor is involved (excluding sales through the Chain Store Channel as hereinafter defined); 
 (iii) the “Distributor Channel” comprised of sales to distributors and wholesalers for resale to retail outlets;

 (iv) the “Chain Store Channel” comprised of sales to chain stores which have in excess of 500 outlets; and

 (v) the “Professional Channel” comprised of sales to independent and chain (other than as described in the
Chain Store Channel) exclusive beauty and skin care salons, day spas, resort spas, travel-related spas, beauty supply stores and to distributors which sell to such salons, spas and stores. 
 Expressly excluded from Authorized Channels are sales into the “Ethical Market Channel”, including physicians, pharmacies, medical clinics and
HMO’s and other recognized prescription drug channels. 
 1.4 “Base Price” means with respect to the Product sold to
Licensee by Senetek, the price per unit applicable if Licensee acquires such Product from Senetek, as may be agreed between Senetek and Licensee in writing, subject to amendment of the Base Price as of the end of each Contract Year to reflect
changes in direct costs, such amendment to the Base Price to be no more than the increase in price to other licensees of Senetek for substantially similar product. 
 1.5 “Best Efforts” means that commercially reasonable degree of effort, expertise, knowledge and resources which one skilled, able, familiar with and experienced in the matters set forth herein would
utilize and otherwise apply with respect to fulfilling a like obligation subject to existing legal, contractual and other restrictions. 
 1.6 “Calendar Quarter” means a period beginning on the first day of January, April, July or October and ending on the last day of March, June, September, or December, respectively. 
 1.7 “Confidential Information” means marketing, sales, financial, scientific, and other non-public and/or proprietary information
concerning the products, projects, businesses and operations of a party or its Affiliates disclosed by such party to the other party or its Affiliates or of which the other party or its Affiliates gains knowledge in performing this Agreement.

 1.8 “Contract Year” means a period beginning on any January 1 during the Term and ending on the first to occur of
December 31 of such calendar year or the termination of this Agreement; provided, however, that the first Contract Year shall commence on the Agreement Date and end on December 31, 2006. 
 1.9 “Documentation” means the documentation relating to the Patents and Know-How identified in Schedule 1.9. 
 1.10 “Final Adjudication” means any decision by a Governmental Entity of competent jurisdiction if either (a) any and all appeals
(including to other Governmental Entities of competent jurisdiction) in connection with the adjudication are exhausted or (b) the time for any such appeal shall have passed without such appeal having been perfected. 
  

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 1.11 “Government Entity” means any competent governmental agency, board, authority,
commission, court or other governmental entity having lawful jurisdiction. 
 1.12 “Intellectual Property” means
collectively the Patents, the Know-How and such common law and statutory trademarks, trade names, copyrights, designs and other proprietary rights related to or useful in the performance of this Agreement that Senetek owns or has rights to on the
Agreement Date except any as to which Senetek or an Affiliate is subject to an agreement or commitment precluding Senetek from making it available to Licensee. 
 1.13 “Know-How” means such special knowledge, trade secrets and technical or other proprietary information, whether or not patented or patentable, owned or controlled by Senetek or its Affiliates at
any time prior to or during the term of this Agreement specifically related to the development, manufacture or use of the Products except any as to which Senetek or an Affiliate is subject to an agreement or commitment precluding it from making it
available to the Licensee, provided, however, that Know-How shall not include any such special knowledge, trade secrets or technical or other proprietary information to the extent the same relates to Zeatin or any other analog of Kinetin.

 1.14 “Patents” means the patents for Kinetin set forth on Schedule 1.14. 
 1.15 “Person” shall be broadly construed to include any governmental entity, legal entity or individual. 
 1.16 “Products” means cosmetic products for topical application containing Kinetin for skin treatment which achieve permeation test (or
other test if the parties agree) results pursuant to Section 4.3 substantially as good as or better than the results achieved by similar Products provided by other licensees of Senetek which have been granted approval by Senetek, but excluding
(i) any product subject to regulation as a prescription drug, (ii) any product with a concentration of Kinetin of less than *** or greater than *** or (iii) any product containing Zeatin or analogues, and which is otherwise subject to
approval by Senetek. 
 1.17 “Senetek Confidential Information” means the Know-How, non-public information concerning the
Patents, Improvements, marketing, sales, financial, scientific, and other non-public and/or proprietary information concerning the products, projects, business and operations of Senetek, including the manufacture, use or sale of the Products
disclosed by Senetek to Licensee or of which Licensee gains knowledge during the Term. 
 1.18 “Specifications” means the
specifications agreed to in writing by the parties with respect to each Product. 
 1.19 “Territory” means the United
States of America and such other countries as the parties may from time to time mutually agree pursuant to Section 2.3 hereof, subject to satisfactory adjustment to the Minimum Royalty Payment. 
 *** Confidential treatment has been requested 
  

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 1.20 “Term” means the period starting on the Agreement Date and ending (if not earlier
terminated pursuant to the other terms of this Agreement) upon the expiration of the last to expire of the Patents issued in the United States containing a Valid Claim. 
 1.21 “Trial Size” means a Unit that is a sampling vehicle with a fill weight that is less than 30% of the fill weight of regular business product and that is given to customers or end-use customers
free of charge or as a gift with purchase, in either case, with the goal of generating trial and awareness of Product. 
 1.22
“Unit” means an individual packaged sku of Product whether packaged individually or bundled with other units of Product or other products for resale. 
 1.23 “Valid Claim” means any claim in an unexpired patent or patent application included within the Patents that has not been disclaimed or held invalid or unenforceable by a Governmental Entity of
competent jurisdiction in a Final Adjudication. 
 2 LICENSE 
 2.1 Grant of License. Senetek hereby grants to Licensee during the Term a non-exclusive license to manufacture, package, market and sell the Products through the Authorized Channels in the Territory under the
Intellectual Property, subject to the terms of this Agreement. Without limiting the generality of the foregoing, Licensee acknowledges that various of the existing license agreements between Senetek and third parties expressly or by implication
grant such third parties the right to sell licensed Kinetin-containing products through certain Authorized Channels. A listing of such rights granted to third parties shall be provided by Senetek to Licensee within 30 days after execution of this
Agreement and incorporated herein as Schedule 2.1. 
 2.2 No Other Rights. It is expressly understood that this Agreement grants no
rights to Licensee except those express rights set forth in this Article 2. Without limiting the foregoing, it is understood and agreed that Licensee has no right pursuant to this Agreement to, and shall not, (i) sell or permit (as set forth in
more detail in the following sentence) its customers to sell any Products outside the Authorized Channels (such as into the Ethical Channel) or outside the Territory, (ii) manufacture, have manufactured or repackaged, use or sell products
containing Kinetin for skin treatment that are not Products, (iii)have any right with respect to Improvements except as may be agreed to in advance and in writing between the parties to this Agreement, or (iv) acquire or assert any co-ownership
or other proprietary interest in any of the Intellectual Property by virtue of its manufacture, marketing or sale of Products. Licensee shall use best efforts to restrict its distributors from selling Products outside the Authorized Channels and the
Territory. In the event that Licensee discovers or is notified that any of its distributors is selling Authorized Goods outside the scope of the Authorized Channels or the Territory and is unable to promptly cause such distributor to cease such
unauthorized activity, it shall terminate such distributor’s services in respect of the Products. Upon any termination of this Agreement, Licensee shall have no right of any kind with respect to the Products, the Intellectual Property,
Improvements, Documentation or Senetek Confidential Information other than the right to complete the sale within six months of such termination of Product then lawfully in its possession, subject to the payment of royalties pursuant to
Section 3.1 with respect thereto. 
  

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 2.3 Right of First Offer as to Export Markets. During the Term, Licensee shall have a right of
first offer (subject to any such rights which been granted to any third party prior to the date hereof) to export Products into markets outside the United States of America on a non-exclusive basis through Authorized Channels and (except for
Australia, Canada and the European Union) the Ethical Channel in said markets; provided, however, that such right shall not apply with respect to products that are protected through patents or other exclusivity rights as
to, owned by, or vested in a third party and as to which Senetek or its Affiliates have not acquired the right to grant marketing rights to others. Licensee shall have thirty (30) days from the date that Senetek notifies Licensee that it wishes
to exploit a particular export market through one or more of the Authorized Channels to deliver an offer to Senetek setting forth in reasonable detail the terms upon which Licensee would export Products to said market. If Senetek elects not to
accept Licensee’s offer (or if no offer is made within such period), Senetek shall be free to grant such rights to others on any terms whatsoever, or exercise such rights itself, or any combination thereof, in Senetek’s sole and absolute
discretion. Notwithstanding the foregoing, Licensee has the right to supply Product to its existing distributors in Israel, South Africa, New Zealand and South Korea on a non-exclusive basis in the Professional Channel, it being understood that no
exclusivity in those markets shall be available to Licensee without the negotiation of a full agreement with Senetek covering any such market which would involve, without limitation, minimum volume commitments and other terms and conditions
satisfactory to Senetek in its sole discretion. 
 2.4 Chain Store Sales Exclusivity. Notwithstanding anything to the contrary set
forth herein, sales by Licensee through the Chain Store Channel are subject to any and all exclusive rights which may already have been granted to any third party prior to the date hereof, including without limitation, all rights granted to Valeant
Pharmaceuticals International. Accordingly, prior to entering into substantive negotiation of any supply contract for sales of Product to a chain store account through the Chain Store Channel, Licensee will seek prior approval from Senetek for any
such negotiations, and Senetek will notify Licensee as to any stores or market segments for which exclusive rights have already been granted to third parties (it being acknowledged that Senetek hereby grants approval to Licensee to commence
negotiations with GNC and Sally’s following the execution of this Agreement). Provided that exclusive or non-exclusive rights have not already been granted to a third party for a particular chain store account identified by Licensee to Senetek,
Licensee and Senetek may negotiate the terms upon which Senetek may grant to Licensee an exclusive right to sell to such account within the Territory, it being acknowledged and agreed that any such grant of exclusivity is in Senetek’s sole and
absolute discretion and may, for example, be limited in time (such as for six months) and subject to minimum sales or purchase commitments. 
 3 ROYALTY
AND TERMS OF PURCHASE OF SENETEK PRODUCT 
 3.1 Royalty. On sales by Licensee of any Products, a royalty shall be due to Senetek
calculated at the rate of (i) *** per Unit for all Products sold through the Direct to Consumer Channel, (ii) *** per Unit for all Products sold through the Direct to Retail Store Channel, (iii) *** per Unit for all Products sold
through the Distributor Channel, (iv) *** per Unit for all Products sold through the Chain Store Channel and (v) *** per Unit for all Products sold outside of the United States through distributors based outside the United States pursuant
to the last sentence of Section 2.3 (collectively, “Royalties”). The applicable Royalty shall be increased at the beginning of each Contract Year commencing with the calendar year 2007 by 
 *** Confidential treatment has been requested 
  

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 the percentage increase in the Consumer Price Index for all Urban Consumers: U.S. City Average, Expenditure Category
“All Items” published for the month most recently available immediately preceding such Contract Year in Table 1 of the CPI Detailed Report, published monthly by the U.S. Department of Labor Bureau of Labor Statistics, over the
corresponding figure for such month in the immediately preceding calendar year (the “Index Adjustment”). In the event that the base periods on which the index utilized herein shall change, the Index Adjustment shall be adjusted to take
into account such change. Such royalties shall be paid with respect to each Calendar Quarter within thirty (30) days after the end of such Calendar Quarter. Each royalty payment shall be accompanied by a detailed statement setting forth
in reasonable detail the basis for the calculation of the royalty amount paid (“Royalty Report”). 
 3.2 Minimum
Payments. Licensee’s payments of royalties due to Senetek pursuant to Section 3.1 hereof for the second Contract Year shall be not less than ***. Simultaneously with the date hereof, Licensee shall make a payment to Senetek of *** as a
non-refundable advance against the first royalties payable under this Agreement. Within 30 days after the end of the second and each subsequent Contract Year, Senetek and Licensee shall negotiate in good faith with respect to the minimum payment to
be required for such Contract Year (“Minimum Payment”), provided that if the parties fail to reach agreement with respect thereto by the end of the first Calendar Quarter of the relevant Contract Year then the Minimum Payment
applicable to such Contract Year shall be equal to the greater of (i) *** amount for the previous year or (ii) *** for the previous year. 
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MANUFACTURE AND DELIVERY OF PRODUCTS. 
 4.1 Licensee Product Manufacturing. All Products shall be manufactured in full compliance
with the Specifications, all applicable cosmetic good manufacturing practices requirements and all requirements of law. 
 4.2
Sourcing. Products shall be manufactured by such contract manufacturer(s) as Senetek may from time to time designate or such contract manufacturers as Senetek shall approve in advance in writing. Any manufacturing site transfer shall be
performed in accordance with standards of good manufacturing practices for cosmetic products. If Licensee desires to purchase its supplies of Kinetin from a source other than Senetek’s current authorized vendor, it shall obtain Senetek’s
prior approval of such new vendor, which approval shall not be unreasonably delayed or withheld, and shall assure that the purity of Kinetin so purchased shall be no less than *** with proof of biological activity and other efficacy of the Products
to be established by Senetek, and Licensee will use Best Efforts to obtain from its supplier the right for Senetek to source its own requirements of Kinetin directly from such supplier at the same pricing and other terms as are provided to Licensee.
Senetek shall have the right, on prior notice, to visit and conduct reasonable audits of Licensee’s contract manufacturing sites and Licensee’s own manufacturing sites and its and its contract manufacturer’s and Kinetin vendor’s
records (including, without limitation, batch records, purchases of raw material records, scheduling records for production and all similar records relating to sourcing and production) and quality assurance/quality control procedures for raw
materials, componentry, packaging and finished product, such visits and audits to be no more frequent than once in each Contract Year unless such sites are found not to be in compliance with the requirements of this Agreement. 
 *** Confidential treatment has been requested 
  

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 4.3 Formulation Testing of Products. Senetek shall have the right to review any proposed Product,
including, without limitation, every sku thereof, and no Product shall be sold for which Licensee has not obtained Senetek’s prior written approval. Without limiting the generality of the foregoing, Licensee shall submit to Dr. Gerald
McCullough, Department of Dermatology, University of California at Irvine (“UCI”), or a commercial or academic facility having capabilities comparable to those of UCI, samples of each Product to conduct skin permeation testing following
the methodologies developed at UCI for the use of radio isotope labeled Kinetin compound or methodologies developed at such other facility which will produce test results substantially similar to those at UCI, provided, that if Licensee
identifies and demonstrates testing methodologies other than permeation testing that will gauge the efficacy of Kinetin in topical formulations as effectively as permeation testing, Senetek will give consideration thereto. Licensee shall bear all
expenses of all such testing, including the cost of UCI in obtaining radioisotope labeled Kinetin for use in such tests. Licensee agrees that no new or modified formulation for which permeation test (or such other test) results substantially as good
as or better than those of similar Products provided by other licensees of Senetek which have been granted approval by Senetek are not so obtained shall be used for Product. If Licensee proposes to conduct other studies of any such new or modified
formulation containing Kinetin, Licensee shall give Notice to Senetek describing such studies and shall obtain Senetek’s approval thereof, such approval not to be unreasonably withheld or delayed. Licensee agrees to pay or reimburse Senetek for
any developmental and testing expenses incurred by it for new or modified Products requested by Licensee. 
 4.4 Packaging and
Labeling. No packaging, labeling or advertising or promotional materials shall state the concentration of Kinetin contained in any Product or make any comparative or superiority claim for any Product with respect to products of any other Senetek
Kinetin licensee. Senetek shall have the right to review all packaging, labeling and advertising and promotional copy prior to printing of such materials and no such materials may be used without Senetek’s prior written approval. 
 4.5 Marketing Efforts. Licensee will use Best Efforts to promote, market and sell the Products throughout the Territory, such efforts to be at
least equivalent to its efforts for its other products and general industry practice. All advertising and promotional materials, and all infomercials or scripts for sales of Licensee Products through direct response television media (including
scripts for “up-sell” and like marketing), shall be subject to Senetek’s prior review and approval, not to be unreasonably withheld or delayed, to assure that all claims are fully supported by existing test data and other valid
substantiating materials. Licensee shall not make any comparative or parity claims for the Products in relation to other Senetek licensees’ products, whether based upon relative concentrations or efficacy of the products’ Kinetin or
otherwise, and packaging, advertising and promotional materials for the Products shall not set forth the concentration of Kinetin except as may be required by applicable law. All Product packaging, labeling and promotional material shall include the
following or a similar statement presented in a manner consistent with industry practice: “Sold under license from Senetek PLC”, with the appropriate patent number of the Patent. 
 4.6 Product Launch. Licensee will begin marketing its initial Product in the United States of America not later than 120 days following the date
of this Agreement. 
  

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 5 REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE PARTIES 
 5.1 Representations, Warranties and Covenants of Licensee. 
 Licensee represents, warrants and covenants as follows: 
 5.1.1 Qualifications and Authorization.
Licensee is a corporation duly formed, validly existing and in good standing under the laws of Maryland with full corporate power and authority to conduct its business as it is now conducted and to enter into and perform this Agreement. Licensee is
duly licensed or qualified to do business and is in good standing in each jurisdiction in which its operations or ownership of assets or its performance of this Agreement requires such licensing or qualification. 
 5.1.2 No Conflict or Violation. Neither the execution, delivery or performance of this Agreement, nor compliance by Licensee with any of the
provisions hereof, will (i) violate or conflict with any provision of the Certificate or Articles of Incorporation or Bylaws of Licensee, (ii) violate, conflict with, or result in a breach of any provision of, or constitute a default (or
an event which, with notice or lapse of time or both, would constitute a default) under, or result in the creation of any encumbrance upon any of Licensee’s assets under, any of the terms, conditions or provisions of any material contract,
indebtedness, note, bond, indenture, security or pledge agreement, commitment, license, lease, franchise, permit, agreement, or other instrument or obligation to which Licensee is a party, or (iii) violate any statute, rule, regulation,
ordinance, code, order, judgment, ruling, writ, injunction, decree or award applicable to Licensee, except, in the case of each of clauses (i), (ii) and (iii) above, for such violations, conflicts, breaches, defaults or creations of
encumbrances which, in the aggregate, would not have a material adverse affect on the business of Licensee taken as a whole or any adverse effect on its ability to fully perform this Agreement. 
 5.1.3 Compliance with Laws. Licensee shall comply in all material respects with all laws, regulations, ordinances, orders, decrees and other
requirements applicable to the storage, shipment, marketing and sale of the Products. Without limiting the foregoing, Licensee shall maintain and implement appropriate quality control and quality assurance procedures for all Products held in
inventory, and shall obtain and maintain all Product marketing approvals, registrations or other permits necessary for the lawful packaging, storage, shipment, marketing and sale of the Products in the Authorized Channel in each country within the
Territory in which Products are sold. 
 5.1.4 Acknowledgement of Senetek Patents’ Validity, Enforceability and Ownership of
Intellectual Property. In consideration of the benefits of this Agreement, Licensee, for itself and its Affiliates, successors and permitted assigns and sub-licensees, during the Term irrevocably acknowledges, admits and concedes that
(i) all rights, title and interest in the Intellectual Property are owned by Senetek and its Affiliates, (ii) all claims of the Patents as well as all claims that are narrower in scope than the claims of the Patents are valid and
enforceable, (iii) all claims of any patent that may issue from any application whose subject matter in whole or in part is entitled to the benefit of the filing date(s) of the Patents (including, without limitation, continuations,
continuations-in-part, divisional patents, reexaminations, renewals, extensions, reissues, and foreign counterparts) that are equal to or narrower in scope than the claims of the Patents are valid and enforceable, and (iv) any and all
improvements, and/or enhancements of the Intellectual Property whether developed by Senetek or its affiliates or by Licensee or its affiliates or contract manufacturers shall be owned by Senetek and Licensee will 
  

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 execute and/or cause the execution of any documents and do any and all things necessary or appropriate to vest ownership
thereof in Senetek. Licensee, for itself and its Affiliates, successors and permitted assigns and sub-licensees, does also during the Term relinquish and waive all rights to dispute said ownership, validity and enforceability in any proceeding of
any nature, covenants that it and they will not assert, either affirmatively or defensively, in any proceeding of any nature, any matter inconsistent with said ownership, validity and enforceability, agrees and acknowledges that the foregoing shall
act as a complete defense and bar to any proceeding of any nature challenging such ownership, validity and enforceability or any of them, and consents to the entry of temporary and permanent injunctions to bar any breach or threatened breach of any
of the foregoing, without the filing on behalf of Senetek of any bond or other security. 
 5.2 Representations and Warranties and
Covenants of Senetek. 
 Senetek represents, warrants and covenants as follows: 
 5.2.1 Qualifications and Authorization. Senetek is a corporation duly organized, validly existing and in good standing under the laws of England,
with full corporate power and authority to conduct its business as it is now conducted and to enter into and perform this Agreement. Senetek is duly licensed or qualified to do business and is in good standing in California and each other
jurisdiction in which its operations or ownership of assets in connection with this Agreement requires such licensing or qualification. 
 5.2.2 No Conflict or Violation. Neither the execution, delivery or performance of this Agreement, nor compliance by Senetek with any of the provisions hereof, will (i) violate or conflict with any provision of the Certificate of
Incorporation or Articles of Association of Senetek, (ii) violate, conflict with, or result in a breach of any provision of, or constitute a default (or an event which, with notice or lapse of time or both, would constitute a default) under, or
result in a creation of any encumbrance upon any of Senetek’s assets under, any of the terms, conditions or provisions of any material contract, indebtedness, note, bond, indenture, security or pledge agreement, commitment, license, lease,
franchise, permit, agreement, or other instrument or obligation to which Senetek is a party, or (iii) violate any statute, rule, regulation, ordinance, code, order, judgment ruling, writ, injunction, decree or award applicable to Senetek,
except, in the case of each of clauses (i), (ii) and (iii) above, for such violations, conflicts, breaches, defaults or creations of encumbrances which, in the aggregate, would not have material adverse effect on the business of Senetek
and its Affiliates taken as a whole or any adverse effect on its ability to perform this Agreement. 
 5.2.3 Patents. Senetek and its
Affiliates own the Patents and either own or hold licenses for the use of the other Intellectual Property and Documentation, and have the full and unrestricted right to license them to Licensee. Senetek has no knowledge of the existence of any
patent or patent applications owned or filed by any Person that would prevent Licensee from making, having made, or selling Products under the Patents in the Authorized Channels within the Territory subject to the terms of this Agreement.

 5.2.4 Product Claim Substantiation; Testing Data. Senetek has made available to Licensee all currently existing, and will continue
to make available to Licensee all future, Product claim substantiation and safety testing data related to the Products, including all 
  

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 University of California—Irvine test data and copies of “results” photographs taken by Canfield Scientific
(all of which constitute Senetek Confidential Information), as may be reasonably necessary to permit Licensee to advertise and promote the Products in accordance with this Agreement; provided, however, that Senetek shall not be required to
disclose such information to the extent that doing so would violate agreements with others and it has used its reasonable commercial efforts to obtain a waiver or amendment of such provisions to permit such disclosure. 
 5.3 Survival. The representations and warranties made in this Agreement shall survive the termination of this Agreement for the full period
prescribed by the statute of limitations applicable to claims for the breach of such representation or warranty. The covenants of the parties made in this Agreement shall continue in full force and effect after the termination of this Agreement
without limit. 
 6 CONFIDENTIAL INFORMATION AND ANNOUNCEMENTS 
 6.1 Senetek Confidential Information. Licensee shall not (a) use Senetek Confidential Information except to perform its obligations under this Agreement, or (b) disclose Senetek Confidential
Information to any Person (except to its employees and agents who reasonably require same for the purpose hereof and who are bound to Licensee by the same obligations as to confidentiality) without the express written permission of Senetek, unless
such disclosure is required by order of a court of competent jurisdiction. 
 6.2 Licensee Confidential Information. Senetek shall not
(a) use Licensee’s Confidential Information except to perform its obligations under this Agreement, or (b) disclose Licensee’s Confidential Information to any Person (except to its employees and agents who reasonably require same
for the purpose hereof and who are bound to Senetek by the same obligations as to confidentiality) without the express written permission of Licensee, unless such disclosure is required by order of a court of competent jurisdiction. 
 6.3 No License. The furnishing of Confidential Information by one party to the other shall not constitute any grant, option or license to the other
under any Patent or Intellectual Property of Senetek or any intellectual property of Licensee. 
 6.4 Announcements. Except as may be
required by law or the listing rules of any exchange on which either party’s securities may be listed or quoted, for which the releasing party shall provide prior notice to the other party and the opportunity to comment on any required
disclosure, neither party will disclose the terms of this Agreement to any other Person; provided, however, that each party may make such disclosure of the terms of this Agreement to its employees and agents as is necessary to permit such
party to perform its obligations under this Agreement; provided further that any such employee or agent agrees to maintain the confidentiality of this Agreement; and provided further that either party may make such disclosures of the
terms of this Agreement as are necessary to enter into license and other agreements that do not conflict with the terms of this Agreement. Licensee acknowledges that this Agreement may be deemed to be a “material contract” as that term is
defined by Item 601(b)(10) of Regulation S-K, and that Senetek may therefore be required to file such document as an exhibit to reports or registration statements filed under the United States Securities Act or Securities Exchange Act. Licensee
further agrees that the status of such documents and materials 
  

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 as material contracts shall be determined solely by the Company in consultation with its counsel except that Senetek
shall redact commercial terms and file for confidential treatment to the extent permitted by law. Notwithstanding the restrictions set forth in Section 6.1 and 6.2, either party may disclose the results of any clinical studies or other
technical data concerning the Products conducted by it and, with the consent of the other party, which shall not be unreasonably withheld or delayed, conducted by the other party; provided, however, that such permitted disclosures to the
extent made by Licensee shall not be used to make comparative or parity effectiveness claims on the basis of concentration levels of Kinetin in different products. 
 6.5 Survival. The provisions of this Article 6 shall survive termination of this Agreement and continue thereafter for a period of ten (10) years. 
 7 BOOKS AND RECORDS; DISPUTE RESOLUTION 
 7.1 Books
and Records. Licensee shall keep (and shall cause any permitted contract manufacturer to keep) books and records sufficient to permit Senetek to verify compliance with all of the representations, warranties and covenants contained herein. Such
books and records shall be preserved for a period not less than three (3) years after they are created during and after the Term of this Agreement. Senetek shall be permitted, within thirty (30) days of its request, to audit all
appropriate books and records (including those of any contract manufacturer) including, without limitation, any data necessary to audit calculation of Royalties, at a single United States location. Such audit may be performed by any employee of
Senetek as well as by any attorney or licensed certified public accountant designated by Senetek, upon reasonable notice and during regular business hours. Senetek shall conduct no more than one (1) such audit during or for any Contract Year
unless any prior audit showed material breach of a representation, warranty or covenant, in which event Senetek may conduct no more than two (2) audits during or for the succeeding Contract Year. Senetek shall pay its own costs of conducting
any such audit unless it is determined by such audit or by Final Adjudication that Licensee was in breach, in which event it shall pay all reasonable costs of such audit. 
 7.2 Disputes. All disputes between the parties to this Agreement shall be subject to and resolved in accordance with the terms of Schedule 7.2, which shall be binding on the parties. 
 8 INDEMNIFICATION, INSURANCE AND LIMITS ON LIABILITY 
 8.1 Indemnification by Licensee. Licensee shall defend, indemnify, and hold harmless Senetek, its officers, agents, employees and affiliates from any loss and from any claim, action, damage, expense or liability (including defense
costs and attorneys’ fees) (collectively, “Claims”) arising out of or related to a breach or alleged breach of any representation, warranty or covenant made by Licensee herein, or the marketing, sale or use of Products, except
insofar as such claims are related to or arise from Senetek’s negligence or breach of any representation, warranty or covenant made by Senetek under this Agreement. 
 8.2 Indemnification by Senetek. Senetek shall defend, indemnify, and hold harmless Licensee, its officers, agents, employees and affiliates from any Claims arising out of or related to a breach or alleged
breach of any representation, warranty, or covenant made by Senetek herein, except insofar as such claims are related to or arise from Licensee’s negligence or breach of any representation, warranty or covenant made by Licensee under this
Agreement. 
  

 11 

 8.3 Insurance. Licensee shall maintain at its expense commercial general liability insurance
(including products liability coverage) with an insurance company or companies rated at least Best AA in a principal amount of not less than One Million Dollars (US$1,000,000) per occurrence and Two Million Dollars (US$2,000,000) in the annual
aggregate. Such policy shall name Senetek as an additional insured. Within thirty (30) calendar days after the date of this Agreement, Licensee shall furnish to Senetek a certificate evidencing such insurance. Senetek may elect to suspend its
performance hereunder until Licensee’s insurance is in place and the certificate of coverage is provided, and may thereafter suspend its performance if it reasonably believes such insurance is not in place until Licensee provides reasonable
assurance that such coverage is in place without any gap in coverage during the Term and will be maintained as required by this Agreement. 
 8.4 No Consequential Damages. Except for claims that include consequential damages paid to Persons that are not affiliates of an indemnified party, neither party shall be liable to the other for consequential damages, lost profits,
injury to reputation or similar claims; provided, however, that nothing in this sentence shall be construed to in any way limit Licensee’s obligation to pay Royalties and pay for Products under this Agreement. UNDER NO CIRCUMSTANCES
SHALL SENETEK OR ITS AFFILIATES HAVE ANY LIABILITY ARISING FROM THIS AGREEMENT IN EXCESS OF THE HIGHEST AGGREGATE AMOUNT PAID AS ROYALTIES IN ANY ONE OF THE THREE PRECEDING CONTRACT YEARS. Each party acknowledges and agrees that, but for the
limitations of liability set forth in this Section, the other party would not have entered into this Agreement upon the terms set forth herein and that such limitations are a material part of this Agreement. 
 8.5 Recalls. In the event any Product(s) must be recalled from distribution by reason of failure to meet any requirements of law or otherwise,
Licensee shall immediately effect such recall at its own expense. Senetek shall use reasonable commercial efforts to cooperate with Licensee in implementing any such recall to the extent such cooperation is necessary to effect the recall or
responding to any regulatory matters in connection therewith, provided Licensee shall pay Senetek’s out-of-pocket expenses related thereto. 
 9 INFRINGEMENT 
 9.1 Notification of Infringement. During the Term, each party shall promptly advise the other in
writing of any infringement, imitation or act by third parties inconsistent with the ownership of and rights to the Intellectual Property as represented in this Agreement or any act of unfair competition by third parties (any of the foregoing shall
be referred to as an “infringement”) relating to any of the Intellectual Property, wherever and whenever such infringement or act shall come to the attention of such party. Senetek (in the case of infringement of the Intellectual Property)
shall promptly take such commercially reasonable action as is required to restrain such infringement or otherwise enforce its rights, and Licensee shall cooperate fully in such action (to the extent it relates to markets in which Licensee sells
Products) and, if so requested, shall join as a party to any appropriate legal proceedings for such purpose. Each party shall bear its own expenses in connection with the foregoing. In the event that within a reasonable time after Senetek becomes
aware of such infringement, Senetek fails to commence appropriate and diligent action with respect to such infringement, Licensee shall have the right, to the extent permitted by law, to institute an action for infringement at its own expense, and
in its own name, or in the name of any of its Affiliates and the right to enforce and collect any judgment thereon. 
  

 12 

 9.2 Recovery. Any recovery by either party as a result of any claim, demand, litigation or other
action contemplated by Section 9.1 or any settlement thereof shall first be used to reimburse each party for the reasonable costs of the action borne by such party (or, if the recovery is less than the aggregate costs of such action, shall be
distributed between the parties in proportion to the costs of the action borne by each of the parties), with the remaining amount, if any, to be paid to the party bringing the action. 
 10 TERM AND TERMINATION 
 10.1 Term. The term of this Agreement shall be the Term as defined in
Article 1 unless terminated earlier than therein provided pursuant to this Article 10. 
 10.2 Termination for Cause. Each party shall
have the right to terminate this Agreement at any time upon written notice to the other in the event (i) the other party is found in breach of any of its representations or fails to perform any material obligation and such failure continues for
a period of thirty (30) days with respect to a payment failure or, with respect to any other failure, such failure continues for a period of sixty (60) days after notice thereof or (ii) the other party is declared insolvent or
bankrupt by a court of competent jurisdiction, or a voluntary petition of bankruptcy is filed in any court of competent jurisdiction by the other party, or the other party makes or executes any assignment for the benefit of creditors 
 10.3 Senetek may terminate this Agreement upon thirty (30) days prior written notice to Licensee in the event that Licensee shall cease to sell
Product sufficient to produce a Royalty equivalent to the Minimum Royalty then in effect. 
 10.4 Bankruptcy of Senetek. The parties
hereby agree that licenses under this Agreement are licenses of intellectual property as defined in Section 101(35A) (formerly Section 101(56)) of the Bankruptcy Code, and that this license agreement is governed by Section 365(n) of
the Bankruptcy Code. Senetek hereby agrees that in the event this Agreement is assigned to any third party in any bankruptcy action by Senetek, such assignee must assume all of Senetek’s obligations under this Agreement. 
 11 MISCELLANEOUS 
 11.1 Method of Payments. All
payments due under this Agreement shall be paid in U.S. Dollars by personal check, subject to collection, or wire transfer of immediately available funds to Senetek in the United States. Late payments shall be subject to a monthly processing fee of
one-and-one-half percent (1.5%) of the amount overdue or, if such amount is not permitted by law, the maximum amount permitted by law. 
 11.2 No Joint Venture. It is not the intent of the parties hereto to form any partnership or joint venture. Each party shall, in relation to its obligations hereunder, act as an independent contractor, and nothing in this Agreement
shall be construed to give either party the power or authority to act for, bind or commit the other. 
  

 13 

 11.3 Governing Law. This Agreement shall be governed by and interpreted in accordance with the
laws of the State of California (regardless of that or any other jurisdiction’s choice of law principles). Licensee irrevocably submits to the exclusive jurisdiction of the United States Federal District Court for the Northern District of
California for all purposes related to enforcement of this Agreement. 
 11.4 No Assignment. Neither party to this Agreement may
assign its rights or obligations under this Agreement without the prior written consent of the other party to this Agreement; provided, however, that either party may assign its rights to an Affiliate or to any successor by merger,
consolidation, sale of stock or the sale of substantially all of the assets of such party; provided further, that no such permitted assignment shall relieve the assigning party of its liability for any breach by its assignee. Licensee may not
sub-license any of its rights hereunder without the prior written consent of Senetek. Any permitted sublicense shall require that the sub-licensee agree in writing to comply with the terms of this Agreement and shall name Senetek as a third-party
beneficiary with rights of enforcement. No sub-licensee shall have any right to grant additional sublicenses, and any attempt to grant such a further sublicense shall automatically terminate the sub-license under which such additional sub-license
purportedly was granted. 
 11.5 Force Majeure. No party hereto shall be liable to any other in damages for, nor shall this Agreement
be terminable by reason of, any delay or default in such party’s performance hereunder if such delay or default is caused by conditions beyond such party’s control including, but not limited to, acts of God, regulation or law or other
action of any government or any agency thereof, war, insurrection, civil commotion, destruction of production facilities or materials by earthquake, fire, flood or storm, labor disturbances, epidemic, or failure of suppliers, public utilities or
common carriers. Each party hereto agrees to promptly notify the other party of any event of force majeure under Section 11.5 and to employ Best Efforts towards prompt resumption of its performance hereunder if such performance is delayed or
interrupted by reason of such event. In no event shall a force majeure event be deemed to excuse the failure of Licensee to pay any monies due hereunder. 
 11.6 Notices. Unless otherwise provided herein, any notice required or permitted to be given hereunder (a “Notice”) shall be mailed by certified mail or generally recognized express courier
service with signature required for delivery, postage prepaid, sent by facsimile transmission, or delivered by hand to the party to whom such Notice is required or permitted to be given hereunder, at such party’s address first set forth above
or at such other address as the party may have designated by Notice hereunder. If mailed, any such Notice shall be deemed to have been given as of the date of receipt, as evidenced by the date appearing on the delivery notice. If delivered by hand,
any such Notice shall be deemed to have been given when received by the party or agent of such party to whom such Notice is given, as evidenced by written and dated receipt of the receiving party. 
 11.7 Captions. The captions in this Agreement are solely for convenience of reference and shall not be used for purposes of interpreting or
construing the provisions hereof. 
 11.8 Severability. Should any part or provision of this Agreement be held unenforceable or in
conflict with the applicable laws or regulations of any jurisdiction, the invalid or unenforceable part or provision shall be replaced with a provision which accomplishes, 
  

 14 

 to the extent possible, the original business purpose of such part or provision in a valid and enforceable manner, and
the remainder of this Agreement shall remain binding upon the parties hereto. 
 11.9 Waiver. No failure on the part of any party
hereto to exercise, and no delay in exercising, any right, privilege or power hereunder shall operate as a waiver or relinquishment thereof; nor shall any single or partial exercise by any party hereto of any right, privilege or power hereunder
preclude any other or further exercise thereof, or the exercise of any other right, privilege or power. 
 11.10 Entire Agreement.
This Agreement together with its Schedules constitutes the entire agreement and understanding between the parties hereto with respect to the subject matter of this Agreement and shall supersede any prior agreements, negotiations, understandings,
representations, statements and writings relating thereto. This Agreement may not be amended or modified except in a writing signed by a duly authorized officer of the party against whom enforcement of such amendment is sought. 
 11.11 Counterparts. This Agreement may be executed in one or more counterparts by exchange of facsimile copies of signature pages, each of which
will be deemed an original and all of which together will constitute one and the same instrument. 
 11.12 Document Preparation. The
Parties acknowledge that this Agreement is a product of extensive negotiations and that no inference should be drawn regarding the preparation of this document. 
 To evidence this Agreement, the parties have caused their duly authorized representatives to execute this Agreement as of the Agreement Date. 
  

			
	OFRA COSMETICS LLC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	SENETEK PLC
		
	By:	 	 /s/ Frank J. Massino

	Name:	 	Frank J. Massino
	Title:	 	Chairman & Chief Executive Officer

  

 15 

 SCHEDULE 1.9 
 DOCUMENTATION 
 1. Kinetin pre-Clinical Safety Studies 
  

	 	A.	STK 1—Ames Test 

  

	 	B.	STK 2—Mouse Lymphoma TK Locus Assay 

  

	 	C.	STK 4—Acute Oral Toxicity to Mice 

  

	 	D.	STK 6—Acute Oral Toxicity to Rats 

  

	 	E.	STK 7—Acute Dermal Toxicity to Rats 

  

	 	F.	STK 8—Irritant Effects on Rabbit Skin 

  

	 	G.	STK 9 –Irritant Effects on the Rabbit Eye 

  

	 	H.	STK 10—Delayed Contact Hypersensitivity in Guinea Pig 

  

	 	I.	STK 15—Kinetin and Furfural Bacterial Mutation Assay 

  

	 	J.	STK 30—Mouse Micronucleus Test 

 2. Kinetin Clinical Safety Studies

  

	 	A.	KTN 001 

  

	 	B.	KTN 003 

 3. Kinetin In-vitro Skin Penetration Studies 
 4. Kinetin Raw Material Test HPLC Procedure and Specifications (current supplier) 
 5. Product Composition and Manufacturing Instructions for Formulae Developed by Senetek. 
 6. Product Specifications for Formulae Developed by
Senetek PLC. 
 7. Kinetin HPLC Assay Procedure for Formulated Products 

 SCHEDULE 1.14 
 PATENTS 
  

											
	 Title
	  	Country	  	Status	  	Application No.	  	Patent No.	  	Patent Date
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Argentina	  	Granted	  	320120	  	250273	  	1/28/97
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Australia	  	Granted	  	81884/91	  	666836	  	7/9/96
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Austria	  	Granted	  	91912579.9	  	0584068	  	10/6/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Belgium	  	Granted	  	91912579.9	  	0584068	  	10/6/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Brazil	  	Granted	  	2108368	  	P19107307	  	10/31/00
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Canada	  	Granted	  		  	1,339,503	  	10/21/97
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Canada	  	Pending	  	2108369	  		  	
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	China	  	Granted	  	91104472.8	  	ZL91104472	  	6/3/96
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	European
Patent
Office	  	Granted	  	91912579.9	  	0584068	  	10/6/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Finland	  	Pending	  	935039	  		  	
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	France	  	Granted	  	91912579.9	  	0584068	  	10/6/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Germany	  	Granted	  	91912579.9	  	0584068	  	10/6/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Great
Britain	  	Granted	  	91912579.9	  	0584068	  	10/6/99

  

 17 

											
	 Title
	  	Country	 	Status	  	Application No.	  	Patent No.	  	Patent Date
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Greece	 	Granted	  	91912579.9	  	0584068	  	10/6/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Ireland,
Republic of	 	Pending	  	1715/91	  		  	
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Israel	 	Granted	  	98204	  	98204	  	2/12/95
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Japan	 	Granted	  	512066/91	  		  	
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Japan
(divisional)	 	Pending	  	3103375	  		  	
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Luxembourg	 	Granted	  	91912579.9	  	0584068	  	10/6/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Korea,
South	 	Granted	  	703452/93	  	196660	  	2/22/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Malaysia	 	Pending	  	PI9100865	  		  	
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Mexico	 	Granted	  	25,886	  	178834	  	7/2/95
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Netherlands	 	Granted	  	91912579.9	  	0584068	  	10/6/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	New
Zealand	 	Granted	  	238210	  	238210	  	10/1/93
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	New
Zealand	 	Granted	  	247836	  	247836	  	8/8/97
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Norway	 	Granted	  	934115	  	304814	  	2/22/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Philippines	 	Pending	  	42893	  		  	

  

 18 

											
	 Title
	  	Country	  	Status	  	Application No.	  	Patent No.	  	Patent Date
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Saudi
Arabia	  	Pending	  	91120262	  		  	
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Spain	  	Granted	  	91912579.9	  	0584068	  	10/6/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Sweden	  	Granted	  	91912579.9	  	0584068	  	10/6/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Switzerland	  	Granted	  	91912579.9	  	0584068	  	10/6/99
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Taiwan	  	Granted	  	80105893	  	76376	  	5/23/96
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	Venezuela	  	Pending	  	727	  		  	
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	U.S.	  	Granted	  	206,041	  	5,371,089	  	12/6/94
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	U.S.	  	Granted	  	292,721	  	5,602,139	  	2/11/97
						
	Method and Composition for Ameliorating the Adverse Effects of Aging	  	U.S.	  	Granted	  	314,361	  	5,614,507	  	3/25/97

  

 19 

 SCHEDULE 7.2 
 DISPUTE RESOLUTION 
 Any dispute between the parties arising out of or relating to this Agreement, including with respect to
the interpretation of any provision of this Agreement or with respect to the performance by either party, shall be resolved as provided in this Schedule. 
 (a) Informal Dispute Resolution. 
 The parties shall in good faith first attempt to resolve
their dispute on an informal basis through discussions between a designated representative of each party, as follows. Either party may initiate this informal resolution process (the “Disputing Party”) by sending a notice to the other party
outlining to such other party the nature of the dispute and the name and contact information of the officer of the Disputing Party who shall act as its designated representative. Within (7) days of receipt of such notice, the receiving party
shall by notice designate an officer who shall act as that party’s designated representative. The designated representatives shall meet at a mutually acceptable time and place within fourteen (14) days of the date the initial notice was
received and thereafter as often as they reasonably deem necessary. No communication made during this period between the parties concerning the dispute may be used by either party in any subsequent proceeding for any reason. 
 (b) Arbitration. 
 If the
parties are unable to resolve the dispute informally, within twenty-one (21) days of the date the initial notice was received, either party may commence a mandatory and binding arbitration concerning such dispute, in accordance with the
following procedures: 
 (i) Selection of Arbitrator. The party making demand for arbitration (the “Demanding
Party”) shall notify the American Arbitration Association (the “AAA”) and the other party in writing describing in reasonable detail the nature of the dispute (the “Demand for Arbitration”), and shall request that the AAA
furnish a list of five (5) possible arbitrators who shall have substantial experience in the area of patent licensing and shall otherwise be qualified to competently address the issues presented. Each party shall have fifteen (15) days to
reject two (2) of the proposed arbitrators. If only one individual has not been so rejected, he or she shall serve as arbitrator. If two (2) or more individuals have not been so rejected, then the parties shall promptly mutually select the
arbitrator from the remaining pool of possible arbitrators; provided, however, that if the parties are unable to agree on such selection within ten (10) days after notification by the AAA of the need to make such selection, then the AAA shall
select the arbitrator from the remaining pool of possible arbitrators. 
 (ii) Conduct of Arbitration. 
 (A) The arbitrator shall allow reasonable discovery in the forms permitted by the United States Federal Rules of Civil Procedure,
consistent with the purpose of the arbitration. Such discovery shall be completed no later than sixty (60) days following the appointment of the arbitrator. 
  

 20 

 (B) Following the conclusion of the discovery period, the arbitration hearing shall be
commenced promptly and conducted expeditiously, with each of the parties being limited to no more than a total of five (5) business days for the presentation of its case, including any rebuttal or cross-examination. Unless otherwise agreed by
the parties, the arbitration hearing shall be conducted on consecutive business days. Strict rules of evidence shall not be applied in the arbitration hearing. The arbitrator shall control the presentation of evidence and accord it such weight as
the arbitrator deems appropriate. Cross-examination of witnesses and rebuttal testimony may be permitted. 
 (C) Each party
may submit one pre-arbitration brief (of not more than twenty (20) pages (excluding exhibits)), and a list of proposed witnesses setting forth a brief summary of their testimony, no later than five (5) days prior to the commencement of the
arbitration hearing, and may also submit one post-arbitration hearing brief (of not more than ten (10) pages (excluding exhibits)) no later than five (5) days after the close of the arbitration hearing. A copy of any brief or document
submitted to the arbitrator shall also be served on the other party. 
 (D) The arbitrator shall have no power or authority to
amend or disregard any provision of this Schedule or any other provision of the Agreement (in particular, the arbitrator shall not have the authority to exclude the right of a party to terminate the Agreement when a party would otherwise have such
rights or to assess damages in excess of or different than those provided under the Agreement). 
 (E) Except when a conflict
exists between the terms of the Agreement and the rules of commercial arbitration of the AAA in effect at the time of arbitration, the arbitrator shall use the rules of commercial arbitration of the AAA in effect at the time of the arbitration.

 (iii) Replacement of Arbitrator. Should the arbitrator refuse or be unable to proceed with arbitration proceedings
as called for by this Schedule, such arbitrator shall be replaced by an arbitrator selected according to the procedures stated above. 
 (iv) Authority of Arbitrator to Rule. The parties hereby agree and consent that the arbitrator shall be fully authorized and empowered to (i) permit and rule on motions of summary judgment made by either
of the parties and (ii) award injunctive relief. The ruling of the arbitrator, including on any motion of summary judgment or concerning any award of injunctive relief, shall be final and binding on the parties, and may be confirmed in any
court of competent jurisdiction. 
 (v) Findings and Conclusions. The arbitrator rendering judgment upon disputes
between the parties may prepare and distribute to the parties a writing describing the findings of fact and conclusions of law relevant to the judgment and award and containing an opinion setting forth the reasons for the giving or denial of any
award. The award of the arbitrator shall be final and binding on the parties, and judgment thereon may be entered in a court of competent jurisdiction. 
  

 21 

 (vi) Place of Arbitration. Arbitration, including any necessary hearings
hereunder, shall be held in San Francisco, California. If the parties agree, arbitration hearings may be held in another location. 
 (vii) Time of the Essence. The arbitrator is instructed that time is of the essence in the arbitration proceeding, and that the arbitrator shall have the right and authority to issue monetary sanctions against either of the parties
if, upon a showing of good cause, that party is unreasonably delaying the proceeding. The arbitrator shall render his or her judgment or award within fifteen (15) days following the conclusion of the hearing. Recognizing the express desire of
the parties for an expeditious means of dispute resolution, the arbitrator shall limit or allow the parties to expand the scope of discovery as may be reasonable under the circumstances. In no event shall the period of time from the date of delivery
to the other party of a party’s demand for arbitration to the arbitrator’s rendering of his or her judgment exceed one hundred eighty (180) days. 
 (viii) Confidentiality. The parties agree that the existence of a dispute, any efforts or proceedings to resolve a dispute, whether
informal or pursuant to arbitration, and any rulings or decisions issued by the arbitrator pursuant to this Schedule, shall be held in confidence in accordance with the terms and conditions of this Agreement. 
 (ix) Costs and Expenses. The parties shall jointly and equally pay the expenses of the arbitrator and administrative costs assessed
by the AAA. 
 (c) Litigation. 
 (i) Immediate Injunctive Relief. The parties agree that the only circumstance in which disputes between them shall not be subject to the arbitration provisions of this Schedule is when a party makes a good
faith determination that it needs and is entitled to receive a temporary restraining order or other emergency injunctive relief in order to protect its interest during the pendency of an arbitration proceeding. If a party files a pleading with a
court seeking immediate injunctive relief and this pleading is challenged by the other party and the injunctive relief sought is not awarded in substantial part, the party filing the pleading seeking immediate injunctive relief shall pay all of the
costs and attorneys’ fees of the party successfully challenging the pleading. 
 (ii) Jurisdiction. The parties
consent to jurisdiction and venue in the Northern District of California for all litigation that may be brought, subject to the requirement for arbitration hereunder, arising out of or relating to this Agreement, including with respect to the
interpretation of any provision of this Agreement or with respect to the performance by either party. The parties further consent to the jurisdiction of any state or provincial court located within a district which encompasses assets of a party
against which judgment has been rendered, either through arbitration or through litigation, for the enforcement of such judgment or award against the assets of such party. 
  

 22 

 (d) Governing Law. 
 Disputes subject to this Schedule, and all proceedings to resolve such disputes, shall be governed by and proceed in accordance with, the laws of the
jurisdiction whose laws govern the Agreement. 
  

 23Second Amendment to Agreement on Cooperative Research and Development

 Exhibit 10.96 
 AMENDMENT AGREEMENT No. 2 
 This Amendment Agreement No. 2, effective as of
             , 2005 is between the Institute of Experimental Botany, Academy of Sciences of the Czech Republic, having offices at Rozvojova 135, 165 02 Praha 6, Czech Republic
(“INSTITUTE”) on one side, and Senetek PLC, having offices at 620 Airpark Road, Napa, CA 94558, USA (“SENETEK”) on the other side. 
 WITNESSETH: 
 WHEREAS the PARTIES have entered into AGREEMENT ON COOPERATIVE RESEARCH AND DEVELOPMENT which became effective on
June 6, 2003; 
 WHEREAS on October 18, 2004 the PARTIES agreed to amend their AGREEMENT ON COOPERATIVE RESEARCH AND DEVELOPMENT dated
6th June 2003 as follows: 
  

	 	•	 	The PARTIES will share the expenses of patent protection of international and national patents filed on the basis of PATENT APPLICATION PCT/CZ02/00045; and 

 

	 	•	 	the scope of future licenses to be granted to SENETEK will cover all claims of patents based on the PATENT APPLICATION, those issued INSTITUTE PATENTS already existing when a
license is granted, any applications for INSTITUTE PATENTS as to which SENETEK assumes the costs of patent protection under Article 5.1, and any new patents prepared by the PARTIES under Article 5.1. 

 WHEREAS now PARTIES agreed to amend their AGREEMENT ON COOPERATIVE RESEARCH AND DEVELOPMENT to include further inventions and patent applications: 
  

	 	•	 	The PARTIES will share expenses of patent protection of international and national patents filed on the basis of patent application PCT/CZ03/00078, and 

  

	 	•	 	The PARTIES will share expenses of patent protection of three new patent applications, covering 

  

	 	•	 	8-substituted cytokinins provisionally titled “Supercytokinins” 

  

	 	•	 	“2-methylthiocytokinins” 

  

	 	•	 	tetrahydropyranyl derivatives of cytokinin substituted in position N9 

 COMMERCIAL TERMS GOVERNING LICENSE are added to Appendix of this Agreement. 
 NOW THEREFORE in consideration of the
mutual covenants set forth below and other good and valuable considerations, the PARTIES agree as follows: 
 Amendment No. 2 to AGREEMENT ON COOPERATIVE
RESEARCH AND DEVELOPMENT 
 Amend AGREEMENT ON COOPERATIVE RESEARCH AND DEVELOPMENT and its Appendix – LICENSE AGREEMENT TERM SHEET as shown in Exhibit
1 attached to this AMENDMENT AGREEMENT and made an integral part thereof. 
  

 1 

 IN WITNESS WHEREOF the PARTIES hereto have caused this AMENDMENT AGREEMENT to be executed by their duly authorized
representatives in a manner legally binding upon them as of the date first set forth above. 
  

							
	For INSTITUTE OF EXPERIMENTAL BOTANY	 	For SENETEK PLC
	By:	 	By:
		
	 /s/ Dr. Ivana Machackova
	 	 /s/ Frank Massino

	Dr. Ivana Machackova	 	Frank Massino
	Function: Director of Institute	 	Function: Chairman & CEO
	Date:                     , 2005	 	Date:                     , 2005

  

 2 

 EXHIBIT 1 
 AGREEMENT ON COOPERATIVE RESEARCH AND DEVELOPMENT 
 between 
 Institute of Experimental Botany 
 Academy of Sciences of the Czech Republic 
 Rozvojova 135 
 165 02 Praha 6 
 Czech Republic 
 (hereinafter referred to as the INSTITUTE 
 and 
 Senetek PLC 
 620 Airpark Road

 Napa, CA 94558 
 USA 

(hereinafter referred to as SENETEK) 
 WHEREAS the
INSTITUTE in its Laboratory of Growth Regulators headed by Professor Miroslav Strnad is performing basic research on cytokinins and related plant growth regulators and is willing to provide to SENETEK samples of cytokinins and cytokinin analogs and
related information developed at the INSTITUTE including those covered by patents and/or patent applications owned by the INSTITUTE, for testing, possible further development by the INSTITUTE and SENETEK, and ultimately possible licensing to
SENETEK; and 
 WHEREAS SENETEK is a company developing pharmaceutical and cosmeceutical products and, in connection with such business, has made certain
inventions regarding cytokinins and cytokinin analogs and methods of using them for various indications related to ameliorating signs of aging and anti-inflammatory indications which are covered by the SENETEK PATENTS, as hereinafter defined; and

 WHEREAS SENETEK is interested in testing and evaluating, in cooperation with the INSTITUTE, compounds, as hereinafter defined, developed by the INSTITUTE
and in obtaining licenses covering such of these compounds as it may select as hereinafter provided. 
 NOW THEREFORE
in consideration of above-mentioned premises the parties agree as follows: 
 ARTICLE 1 – DEFINITIONS 
 AFFILIATES as used herein shall mean any legal entity which, at the EFFECTIVE DATE or during the validity of this Agreement: 
  

	 	•	 	directly or indirectly controls SENETEK, 

  

 3 

	 	•	 	is under the same direct or indirect control as SENETEK, or 

  

	 	•	 	is directly controlled by SENETEK 

 A legal entity is
considered controlling another: 
  

	 	•	 	when it directly or indirectly owns over *** (***) of the capital of this legal entity or more than *** (***) of the voting rights of its shareholders or associates; or

  

	 	•	 	when it has the direct or indirect de facto, directly or indirectly, the power to decide within this legal entity how the affairs shall be conducted. 

 AGREEMENT as used herein shall mean this agreement and any and all Annexes, appendices and other addenda to it as it may be varied from time to time 
 COMPOUNDS as used herein means cytokinins and related compounds, developed, in-licensed or otherwise acquired by the INSTITUTE that may be used for any application, with
initial priority focus on medical skin care applications and/or cosmetic skin care applications. Cytokinins can be chemically defined as N6–substituted adenine derivatives. These compounds may be optionally substituted at different positions of purine ring by another substituent. The compounds can exhibit one or more of the following biological activities,
among others: cytokinin activity in tobacco callus, wheat antisenescent and Amaranthus bioassay, antisenescent activity on human fibroblasts, cytotoxicity for skin cancer cells, antipsoriatic activity for hyperproliferative skin cells,
anti-inflammatory activity for skin cells and other anti-senescence skin cell activities. 
 TESTING as used herein means any testing, with initial priority
focus on cytokinin activity and cytotoxicity testing to determine the most suitable COMPOUNDS for further development for medical skin care applications and/or cosmetic skin care applications. 
 PARTY as used herein means either of the PARTIES to this AGREEMENT as the case may be, and both of them when used in plural. 
 PATENT APPLICATION PCT/CZ02/00045 as used herein means patent application of the INSTITUTE PCT/CZ02/00045 filed on August 1, 2002 titled “Heterocyclic
compounds based on N6-substituted adenine, methods for their preparation, their use for preparation of drugs,
cosmetic preparations and growth regulators, pharmaceutical preparations, cosmetic preparations and growth regulators containing these compounds” inventors Dolezal et al. (published on May 15, 2003). 
 PATENT APPLICATION PCT/CZ03/00078 as used herein means patent application of the INSTITUTE PCT/CZ03/00078 filed on 29th Dec. 2003 with international priority date 30th Dec. 2002, published under WO 2004/058791, titled: “Substitution derivatives of N6-benzyladenosine, methods of their preparation, their use for preparation of drugs, cosmetic preparations and growth regulators,
pharmaceutical preparations, cosmetic preparations and growth regulators containing the compounds”, inventors: Dolezal Karel, Dr.Mgr., Zatloukal 
 *** Confidential treatment has been requested 
  

 4 

 Marek, RNDr., Popa Igor, Dr., Lenobel René, Mgr., Hradecka Dana, Ing., Vojtesek Borivoj, RNDr. DrSc., Uldrijan
Stjepan, Mgr. CSc., Mlejnek Petr, RNDr. CSc., Strnad Miroslav, Prof. Ing. CSc., Werbrouck Stefaan, Dr., owner: UEB AV CR, having date for entry into national phase 30th June 2005 and date for European regional phase 30th July 2005. 
 NEW PATENT APPLICATIONS as used herein means patent applications of INSTITUTE to be
prepared and filed in the name of INSTITUTE, subject of which will be 
  

	 	•	 	8-substituted cytokinins provisionally titled “Supercytokinins” 

  

	 	•	 	“2-methylthiocytokinins” 

  

	 	•	 	tetrahydropyranyl derivatives of cytokinin substituted in position N9 

 INSTITUTE PATENTS as used herein means currently owned patents and patent applications of INSTITUTE covering cytokinin-like COMPOUNDS. 
 SENETEK
PATENTS as used herein means SENETEK’s issued patents (U.S. Patents 5,371,089, 5,602,139, 5,614,407, 5,021,422, 5,164,394, and 5,151,425 and the corresponding international and foreign patents) related to the use of cytokinins for
anti-inflammatory indications and for medical skin care applications and/or cosmetic skin care applications, and any patents hereafter issued which are entitled to the same priority date(s) as such issued patents. 
 PROPOSED PATENTS as used herein means any new patent issued on a PATENT APPLICATION PCT/CZ02/00045, PATENT APPLICATION PCT/CZ03/00078, and NEW PATENT APPLICATION as
provided hereinafter, and all related patents, inventor certificates, utility certificates, and models and certificates of addition and all foreign counterparts of them, including any divisional application and patents, re-filings, renewals,
continuations, continuations-in-part, patents of addition, extensions, reissues, substitutions, confirmations, registrations, revalidations and additions of or to any of them, as well as any supplementary protection certificates and equivalent
protection rights based on the above patent applications. 
 PRODUCT as used herein means any product which or the process of production of which falls
within a VALID CLAIM of patent licensed to SENETEK pursuant to this AGREEMENT. 
 SUB-LICENSEES as used herein mean any third parties who may obtain a
license from SENETEK to develop and/or commercially exploit any COMPOUND covered by a patent licensed to SENETEK pursuant to this AGREEMENT. 
 FIRST
COMMERCIAL SALE as used herein means the first commercial sale of a PRODUCT to a third party made by either SENETEK or its AFFILIATES or SUB-LICENSEES. 
 NET SALES as used herein means the gross amount invoiced by SENETEK and its AFFILIATES to their customers including distributors and third parties for sales of PRODUCTS, less any normal trade discounts and credit notes issued in respect of
returned PRODUCTS, any purchase, sales, import, or value added taxes, and charges in respect to carriage. For the purposes of royalty calculation due to the INSTITUTE from SENETEK all deductions will not exceed 10% (ten percent) of the gross sales.
Should SENETEK sell PRODUCTS to an AFFILIATE (or vice-versa) which thereafter sell them to an unrelated third party, the sales between the AFFILIATE (or SENETEK) and the unrelated third party (and not the sales between SENETEK and its AFFILIATE)
shall be considered NET SALES. 
  

 5 

 VALID CLAIM as used herein means any claim of an issued and un-expired patent or a claim of a pending patent application
licensed to SENETEK pursuant to this AGREEMENT which has not been held un-patentable, invalid or unenforceable by a court or other government agency of competent jurisdiction and has not been admitted to be invalid or unenforceable through reissue,
re-examination, disclaimer or otherwise; provided, however, that if the holding of such court or agency is later reversed by a court or agency with overriding authority, the claim shall be reinstated as a VALID CLAIM after the date of such reversal.

 EFFECTIVE DATE as used herein shall mean the date of the last signature of this AGREEMENT by the PARTIES. 
 All plurals may be read in the singular and vice versa. 
 The headings are inserted for convenience only and shall be ignored in construing this AGREEMENT. 
 ARTICLE 2 - SCOPE OF THE AGREEMENT 
  

	2.1	Subject to the terms and conditions of this AGREEMENT, SENETEK shall from time to time, as provided in Article 3 below, obtain from the INSTITUTE such of the COMPOUNDS (which are
covered by the PATENT APPLICATION PCT/CZ02/00045, PATENT APPLICATION PCT/CZ03/00078, or NEW PATENT APPLICATIONS, or INSTITUTE PATENTS, or the SENETEK PATENTS, or unpatented) as SENETEK may designate. 

  

	2.2	During the term of this AGREEMENT SENETEK will screen and conduct TESTING of these COMPOUNDS with initial focus on skin models and otherwise for their anti-senescence activity and
toxicity. 

  

	2.3	If SENETEK finds the TESTED COMPOUNDS of interest and wishes to exploit them commercially, SENETEK and INSTITUTE will negotiate and sign license agreement, as defined in Article 3.5
hereof. 

  

	2.4	SENETEK will pay royalty related to the NET SALES of PRODUCTS to INSTITUTE as set in the ANNEX 1 - License Agreement Term Sheet attached to this AGREEMENT. 

ARTICLE 3 – DUTIES OF THE PARTIES 
  

	3.1	Promptly after the EFFECTIVE DATE, and thereafter at least once every calendar year, the INSTITUTE shall provide SENETEK with a complete listing and description of all COMPOUNDS
developed, in licensed or otherwise acquired by the INSTITUTE, which are covered by the PATENT APPLICATION PCT/CZ02/00045, PATENT APPLICATION PCT/CZ03/00078, NEW PATENT APPLICATIONS, the INSTITUTE PATENTS, the SENETEK PATENTS, or unpatented,
together with all chemical and biological information in its possession with respect to such COMPOUNDS and specifying those COMPOUNDS which are covered by the INSTITUTE PATENTS. 

  

 6 

	3.2	Not later than two (2) weeks after delivery of such information by the INSTITUTE, SENETEK will select and advise the INSTITUTE, in writing, of those COMPOUNDS on which it
wishes to conduct TESTING at that time. Notwithstanding the foregoing, as regards COMPOUNDS which the INSTITUTE’s listing under Article 3.1 specifies are covered by the INSTITUTE PATENTS, if SENETEK does not give the INSTITUTE written advice
that it wishes to conduct TESTING of any such COMPOUND within four (4) months after it receives the listing provided for in Article 3.1, SENETEK shall be considered to have waived its rights to such COMPOUND for all purposes of this AGREEMENT
and the INSTITUTE shall be free to commercialize such COMPOUND itself or enter into an evaluation agreement or license or other agreement with respect thereto with any third party on such terms as it may determine in its sole discretion, subject,
however, to SENETEK’s rights under the SENETEK PATENTS as regards commercialization of any COMPOUND or method covered thereby, provided, however, that before INSTITUTE shall enter into an evaluation agreement or license or other
agreement with any third party, INSTITUTE shall give notice to SENETEK of the terms on which it proposes to enter into such evaluation agreement or license or other agreement and SENETEK shall have thirty (30) days to enter into such agreement
with INSTITUTE on the same terms, providing these terms are not worse for the INSTITUTE than the terms in the LICENSE AGREEMENT TERM SHEET hereof, in which case the terms of the LICENSE AGREEMENT TERM SHEET will be used. 

  

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

  

	3.4	If practicable, not later than nine (9) months after each delivery by the INSTITUTE of the listing of COMPOUNDS as provided in Article 3.1, SENETEK will provide the INSTITUTE
with a report of the results of the TESTING of the new COMPOUNDS set forth in such listing. SENETEK will also indicate those COMPOUNDS for which SENETEK wishes to be granted a license. SENETEK may, if it so chooses, deliver such reports and indicate
COMPOUNDS it wishes to license on more than one occasion during such period. Such license shall be exclusive and world-wide, for all applications. 

  

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

  

	3.6	If SENETEK does not deliver one or more reports as provided in Article 3.4 or, having delivered such report or reports, decides not to execute a License Agreement negotiated by the
PARTIES as provided in Article 3.5, as to any particular COMPOUND or COMPOUNDS covered by the PATENT APPLICATION PCT/CZ02/00045, PATENT APPLICATION PCT/CZ03/00078, or NEW PATENT APPLICATIONS, or the PROPOSED PATENTS, then the PARTIES will agree how
to commercialize such COMPOUNDS and how to share revenues from such commercialization. Any such agreement on particular COMPOUNDS will be recorded in writing, signed by both 

  

 7 

 PARTIES, and will become an appendix to this AGREEMENT. In case of COMPOUNDS not covered by PATENT
APPLICATION or the PROPOSED PATENTS, INSTITUTE shall be free to commercialize such COMPOUND or COMPOUNDS itself or enter into an evaluation agreement or license or other agreement with respect thereto with any third party on such terms as it may
determine in its sole discretion, subject, however, to SENETEK’s rights under the SENETEK PATENTS as regards commercialization of any COMPOUND or method covered thereby. 
  

	3.7	INSTITUTE agrees that it will not enter into any cooperative research and development agreement with any third party involving any chemical compounds other than COMPOUNDS for
cosmeceutical or anti-aging dermatological uses without first offering to SENETEK the opportunity to enter into such cooperative research and development agreement instead of such third party on the same terms as those proposed by or to such third
party. 

 SENETEK will exercise its right of first refusal within 4 weeks of receiving the proposed cooperative research and
development agreement. 
 ARTICLE 4 – CONSIDERATION; DEVELOPMENT OF SELECTED COMPOUNDS 
 In addition to the INSTITUTE’s rights of patent ownership under Article 5, as additional consideration for the rights granted to SENETEK herein SENETEK agrees that,
if SENETEK advises the INSTITUTE as provided in Article 3.2 that it wishes INSTITUTE to conduct TESTING on any COMPOUND or COMPOUNDS, SENETEK will be obligated to pay or reimburse the INSTITUTE for the expenses of such TESTING and/or further
evaluation, in vitro and in vivo testing, and development of the selected COMPOUNDS (collectively with the TESTING, the ‘R&D”). Such payments to the INSTITUTE shall be made by bank transfer monthly, as such expenses are incurred, to
the account titled *** 
  

	4.1	If the PARTIES agree that any R&D can most efficiently and effectively be done by the INSTITUTE or by a third party laboratory with which the INSTITUTE has a relationship, such
expenses shall be billed at the INSTITUTE’S direct cost of conducting or contracting out such activities. If the PARTIES agree that any R&D can most efficiently and effectively be done by a third party laboratory or academic institution
with which SENETEK has a relationship, SENETEK shall pay for such activities and provide the INSTITUTE with documentation of such payment. 

  

	4.2	To support the INSTITUTE’s research, on the EFFECTIVE DATE and on each anniversary of the EFFECTIVE DATE, SENETEK shall pay to the INSTITUTE, in the manner above set forth, the
sum of ***, plus the following sums: 

  

							
	 	  	2005	 	2006	 	2007
	 Supercytokinins (8-substituted cytokinins)
	  	***	 	***	 	***
	 Tetrahydropyranyl cytokinins
	  	***	 	***	 	***
	 2-methylthiocytokinins
	  	***	 	***	 	***
	 Oral availability study
	  	***	 	***	 	***

 *** Confidential treatment has been requested 
  

 8 

 which amounts shall be retained by the INSTITUTE for development of new cytokinins and cytokinin-like compounds. In 2007
the PARTIES will meet and agree whether to continue the research co-operation and on what conditions. 
  

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

  

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

ARTICLE 5 – INTELLECTUAL PROPERTY AND EXPLOITATION OF THE RESULTS 
  

	5.1	JOINT INVENTIONS THAT MAY BE CREATED UNDER RESEARCH CO-OPERATION OF PARTIES 

 In the event and on each occasion that the TESTING of the COMPOUNDS reveals an effect of any of the COMPOUNDS that is not covered by the SENETEK PATENTS or issued INSTITUTE PATENTS (though it may be covered by
existing or draft applications for INSTITUTE PATENTS), or by the PATENT APPLICATION PCT/CZ02/00045, PATENT APPLICATION PCT/CZ03/00078, or NEW PATENT APPLICATIONS and that merits patent protection, the following arrangement shall apply: 

(a) the PARTIES shall collaborate in the preparation of documents required for the filing of a patent application on each such invention; 

(b) all such patent applications shall be filed and owned *** by the INSTITUTE and *** by Senetek, and SENETEK shall have the right to an exclusive
licence for use world-wide, for all applications; 
 (c) each patent application shall include the names of those employees of the PARTIES (as
co-inventors) that were responsible for the development of the invention; 
 (d) the PARTIES will agree on the filing of foreign patent
protection; 
 (e) in case SENETEK executes its right to license a COMPOUND covered by a patent prepared under this Article 5.1, SENETEK will
take over the cost of obtaining and maintaining the patent protection of the invention; provided that if such patent covers 
 ***
Confidential treatment has been requested 
  

 9 

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

	5.2	PATENT APPLICATION PCT/CZ02/00045 

  

	5.2.1	The PARTIES decided to file PATENT APPLICATION PCT/CZ02/00045 in China, Japan, South Korea, Taiwan, Vietnam, India, Australia, USA, Canada, Mexico, Brazil, Egypt, Saudi Arabia, and
South Africa, as a European patent, in Israel, New Zealand, Norway, Philippines, Poland, Czech Republic, Slovak Republic, Russia, Singapore, Hungary, and Yugoslavia. 

  

	5.2.2	The PARTIES appointed INVENTIA s.r.o., Politickych veznu 7, 110 00 Praha 1, Czech Republic—the Intellectual Property Counsel, which has been given the responsibility of
prosecuting all documents for the preparation, filing, extension, delivery and maintenance of international and national patents based on PATENT APPLICATION PCT/CZ02/00045 (hereinafter COUNSEL). 

  

	5.2.3	Each PARTY will bear patent protection costs in certain territories: 

  

	 	A	SENETEK will bear patent protection costs of European patent (with exception of extension of EP into Slovenia, Lithuania, Latvia, Albania, Romania, and Macedonia), China, Japan,
South Korea, Taiwan, Vietnam, India, Australia, USA, Canada, Mexico, Brazil, Egypt, Saudi Arabia, South Africa, Israel, New Zealand, Norway, Philippines, Poland, Russia, Singapore, Hungary, and Yugoslavia. 

  

	 	B	INSTITUTE will bear patent protection costs in the Czech Republic, Slovak Republic, and costs of Extension of European Patent into: Slovenia, Lithuania, Latvia, Albania, Romania,
and Macedonia. 

 It is acknowledged that the PARTIES have received an estimate from INVENTIA of the costs of filing national
patents under the PATENT APPLICATION referred to above in the respective countries mentioned above (which in the case of clause A countries totaled ***). If the cost of filing or prosecuting the PATENT APPLICATION in any country substantially
exceeds this estimate and the PARTY responsible does not wish to bear such additional costs, the PARTIES will agree how such costs shall be borne or, if no such agreement is obtained within thirty (30) days, Article 5.3 shall apply. *** of
the expenses paid by SENETEK under Article 5.2.3 shall be credited against initial royalties otherwise due under the license(s) granted to SENETEK under Article 3.5. 
 *** Confidential treatment has been requested 
  

 10 

	5.2.4	To cover initial patent protection expenses of the PATENT APPLICATION PCT/CZ02/00045 under 5.2.3 A, SENETEK will send to COUNSEL monthly installments of USD 10,000. First
installment is payable on 29th February, 2004, last installment is payable on 31st August, 2004. For delayed installments payments, COUNSEL may charge interest of ***, from the due date to the date of
payment. From September 2004, SENETEK will refund to COUNSEL balance of incurred patent protection expenses, as they become due. 

  

	5.3	NEW PATENT APPLICATIONS 

  

	5.3.1	In the event and on each occasion that the TESTING of COMPOUNDS to be covered by the NEW PATENT APPLICATIONS reveals an effect that is not covered by the SENETEK PATENTS or issued
INSTITUTE PATENTS or by the PATENT APPLICATION PCT/CZ02/00045 or PATENT APPLICATION PCT/CZ03/00078 and that merits patent protection, the following arrangements shall apply: 

  

	5.3.2	The NEW PATENT APPLICATIONS will be filed in the name of INSTITUTE. The PARTIES intend to file NEW PATENT APPLICATIONS in China, Japan, South Korea, Taiwan, Vietnam, India,
Australia, USA, Canada, Mexico, Brazil, Egypt, Saudi Arabia, and South Africa, as a European patent (including Hong Kong), in Israel, New Zealand, Norway, Philippines, Euro-Asian Patent and Singapore. 

  

	5.3.3	The PARTIES appointed COUNSEL to prosecute all documents for the preparation, filing, extension, delivery and maintenance of international and national patents based on NEW PATENT
APPLICATIONS. 

  

	5.3.4	Each PARTY will bear patent protection costs in certain territories: 

  

	 	A	SENETEK will bear patent protection costs of European patent (with exception of extension of EP into extension states as they are at the date of filing PCT application), China,
Japan, South Korea, Taiwan, Vietnam, India, Australia, USA, Canada, Mexico, Brazil, Egypt, Saudi Arabia, South Africa, Israel, New Zealand, Norway, Philippines, Euro-Asian Patent and Singapore. 

  

	 	B	INSTITUTE will bear patent protection costs in the Czech Republic, Slovak Republic, and costs of Extension of European Patent into extension states as they are at the date of filing
PCT application. 

  

	5.3.5	Patent applications will be written by INSTITUTE, in English, and will be presented to SENETEK for review and comments. Each patent application will be first filed in USA as a
provisional patent application, and within one year it will be filed as PCT in all other territories. COUNSEL will send to PARTIES invoices as soon as various patent offices and patent attorney’s fees are paid. Before entry to national phase
(30 months from first filing date) SENETEK will provide to COUNSEL retainer of *** for each NEW PATENT APPLICATION and upon approval of PARTIES, on divided patent applications. 

  

	5.3.6	Before the first filing, before the PCT filing, and before entry into national phase PARTIES will receive an estimate from COUNSEL of the expected costs of each NEW PATENT
APPLICATION referred to above in the respective countries mentioned above. If the cost of filing or prosecuting any NEW PATENT APPLICATION in any country substantially exceeds this estimate and the PARTY responsible does not wish to bear such
additional costs, the PARTIES will agree how such costs shall be borne or, if no such agreement is 

 *** Confidential
treatment has been requested 
  

 11 

 obtained within thirty (30) days, Article 5.3 shall apply. *** of the expenses paid by SENETEK under
Article 5.2.3 shall be credited against initial royalties otherwise due under the license(s) granted to SENETEK under Article 3.5. 
  

	5.3.7	In case SENETEK executes its right to license a COMPOUND covered by a patent prepared under this Article 5.3, SENETEK will take over the cost of obtaining and maintaining the patent
protection of the invention; provided that if such patent covers COMPOUNDS which SENETEK has elected not to license or claims fields of use for COMPOUNDS licensed to SENETEK that are beyond the fields of use SENETEK has elected to license,
the PARTIES shall share such cost according to the commercial potential of SENETEK’S COMPOUND and/or field of use and such COMPOUND(S) and/or fields of use not licensed to SENETEK. 

  

	5.3.8	The license fee paid by SENETEK for the grant to it of an exclusive license shall take into account the contribution made by SENETEK (both of cash and intellectual property) to the
jointly developed invention. 

  

	5.4	PATENT APPLICATION PCT/CZ03/00078 

  

	5.4.1	PATENT APPLICATION PCT/CZ03/00078 is filed in USA, Singapore, South Africa and as European patent (all countries of European patent including extension states and Hongkong). SENETEK
will contribute towards national entry costs sum of ***. COUNSEL will provide to PARTIES estimates of expected costs, annually. PARTIES will cover granting fees and patent maintenance fees of the national patents resulting from PCT/CZ003/00078
jointly. PARTIES will commercialize this PATENT APPLICATION PCT/CZ003/00078 jointly. Shares of the PARTIES are to be agreed. 

  

	5.5	If a PARTY decides not to maintain patent protection of patents under Article 5.2. 5.3 and 5.4 in certain territory, it will promptly inform the other PARTY to enable it to take
over such protection. 

 The PARTIES may agree to terminate the patent protection in certain territory. In case these patents
cover tetrahydropyranyl derivatives of cytokinin substituted in position N9, these patents will be offered to research associate of INSTITUTE – 
 *** 
 ARTICLE 6 – CONFIDENTIALITY 
  

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

  

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

  

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

 *** Confidential treatment has been requested 
  

 12 

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

  

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

  

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

 

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

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

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

  

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

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

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

  

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

 ARTICLE 9 – TERM OF THE AGREEMENT 
  

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

  

 13 

	9.2	This AGREEMENT can be prematurely terminated by agreement of both PARTIES or may be prematurely terminated by a PARTY upon not less than six months’ prior written notice to the
other PARTY. 

  

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

  

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

 ARTICLE 10 – DISPUTES 
  

	10.1	In the event of any difference or dispute arising between the PARTIES hereto concerning the construction or performance of this AGREEMENT or its validity, the PARTIES shall first
consult together in good faith and attempt to settle the matter amicably. 

  

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

  

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

  

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

  

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

  

 14 

 ARTICLE 11- GENERAL 
  

	11.1	This AGREEMENT constitutes the sole and entire understanding either oral or written on the subject matter of the AGREEMENT. No further agreement or understanding shall be binding
upon either PARTY hereto unless in writing signed by both PARTIES. This AGREEMENT shall not be assignable by any of the PARTIES hereto, without prior written consent of the other PARTY. 

  

	11.2	The payments properly due to the INSTITUTE under the AGREEMENT shall in no event be refundable to SENETEK. In the event of termination or expiration of this AGREEMENT SENETEK will
pay all and any sums due to INSTITUTE up to the date of expiration or termination. In the event that SENETEK shall be required to pay a tax on any payment to the INSTITUTE, it shall deduct the amount of said tax from the payment due to the INSTITUTE
and shall provide the INSTITUTE with a copy of the Certificate of the tax having been paid pursuant to an Agreement on Avoidance of Double Taxation or for other reasons. 

  

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

  

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

  

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

  

	11.6	SENETEK hereby confirms that it has the expertise necessary to make use of any licensed patents and to develop, make, have made, sell, use, and otherwise commercially exploit the
PRODUCTS. 

 IN WITNESS WHEREOF, the PARTIES hereto have caused this AGREEMENT to be executed by their duly authorized representatives
in a manner legally binding upon them. 
  

 15 

 ANNEX 1 
 LICENSE AGREEMENT TERM SHEET 
  

			
	Term of License:	  	The term of the Valid Claims of the licensed patent(s).
		
	Licensed Territory:	  	World-wide.
		
	Scope of License:	  	Exclusive, for all applications.
		
	Consideration:	  	Royalty of *** of Senetek’s or its Affiliates’ Net Sales of licensed Products other than kinetin- or zeatin- based products, and
		
		  	Royalty of *** of Senetek’s SUB-LICENSEE’S Net Sales of sub-licensed Products other than kinetin- or zeatin- based products,
		
		  	provided that such royalty shall be appropriately reduced for products as to which Senetek’s intellectual property represents a principal basis of the patented
invention.
		
	Minimum Net Sales or Royalty:	  	An amount, beginning in the second full year after product launch, equal to *** of the royalty that would have been due on the preceding year’s Net Sales and Net Royalty; Senetek shall be
entitled to cure non-achievement of minimum royalty by lump sum payment of the short-fall.
		
	Sub-licensing/Assignment:	  	No limitation
		
	Senetek Covenants:	  	Validity and enforceability of License
		  	Compliance with law in performing License
		
	Institute Covenants:	  	Validity and enforceability of License
		  	Maintenance and defense of licensed patents
		
	Indemnification:	  	By Senetek for liability from any non-compliance with law in manufacture, marketing or sale of licensed products.
		
		  	By the Institute for invalidity or unenforceability of licensed patents up to the value of payments received from SENETEK in preceding calendar year.
		
	Termination:	  	By either Party for material breach by the other Party or insolvency or liquidation of the other Party.
		
	Confidentiality:	  	Per basic AGREEMENT
		  	Agreed press release upon signing
		
	Applicable Law:	  	Per basic AGREEMENT.

 *** Confidential treatment has been requested 
  

 16 

 ANNEX 2 
 COMMERCIAL TERMS GOVERNING LICENSE 
 1. SENETEK will inform INSTITUTE in writing of the dates of each FIRST
COMMERCIAL SALE, within 2 (two) months of occurrence of such FIRST COMMERCIAL SALE. 
 2. Where PRODUCT is sold in a currency other then US Dollars, the rate
of exchange to be used for converting such currency into US Dollars shall be the exchange rate, as published in the Financial Times, at the end of the relevant accounting period. From the second year after FIRST COMMERCIAL SALE of each PRODUCT these
installments must reach at least the annual minimum. These installments will be payable on country by country basis. 
 3. The payments shall be made within
60 days of the end of calendar quarter, and shall be accompanied by a statement which shall show on a country by country basis for the previous quarter all monies due to the INSTITUTE. Sales reports shall be sent to the Financial Manager of the
Institute of Experimental Botany - ***. Said sales report shall include the sales figures used to calculate the royalties due to the INSTITUTE, as well as the quantities sold, the unit price of any quantity of the PRODUCTS both by SENETEK and its
AFFILIATES. 
 4. The payments shall be made by bank transfer to the account titled *** 
 5. The royalty properly due to the INSTITUTE shall in no event be refundable to SENETEK. 
 6. In the event that SENETEK
shall be required to pay a tax on any payment to the INSTITUTE, it shall deduct the amount of said tax from the payment due to the INSTITUTE and shall provide the INSTITUTE with a copy of the Certificate of the tax having been paid pursuant to an
Agreement on Avoidance of Double Taxation or for other reasons. 
 8. SENETEK shall prepare accounts, which shall include all the elements necessary to
precisely calculate the NET SALES and NET ROYALTY within the framework of the AGREEMENT. If necessary these accounts shall be made available once a year with 30 days notice to the INSTITUTE or an accredited designee of the INSTITUTE during the term
of the AGREEMENT and for one year thereafter. These accounts shall be prepared annually within 90 (ninety) days of the closing date of September 30 of each year which represents the end of SENETEK’s fiscal year. 
 10. Any sums which remain unpaid within the periods set out hereunder shall be subject to interest of *** over above LIBOR as published in the Financial Times at the end
of the relevant accounting period, without prejudice to the INSTITUTE’s right to terminate the contract in accordance with Article 10 of the present AGREEMENT. 
 11. The INSTITUTE shall have the right once a year with 30 days notice to audit or have audited the sales accounts kept by SENETEK. Should there be an audit, an expert accountant shall be appointed by mutual agreement
of both PARTIES at the expense of the INSTITUTE, 
 *** Confidential treatment has been requested 
  

 17 

 except that if the amount of installments shown by such audit to be due to the INSTITUTE exceed the amount actually paid
by SENETEK by ***, then such expenses shall be paid by SENETEK and any back payments shall be reimbursed with per the Agreement. 
 12. SENETEK agrees to
make reasonable efforts to make, have made, sell and otherwise commercially exploit the PRODUCTS, using similar efforts devoted to products of similar nature and similar markets. 
 13. SENETEK agrees to provide annual reports on the development and exploitation of the PRODUCTS. 
 14. SENETEK and its
AFFILIATES agree not to use the names the INSTITUTE, any trademark, distinctive sign or adaptations thereof which belongs to the INSTITUTE or the names of INSTITUTE inventors or of any INSTITUTE agent, on packaging, labeling, advertising or
promotional materials for the PRODUCTS without receiving prior written approval from the INSTITUTE and the natural person concerned, as the case may be. 
 15. PRODUCTS shall be commercialized by SENETEK, its AFFILIATES and its LICENSEES under their own trademarks. The INSTITUTE shall have no rights to such trademarks. All administrative authorizations obtained by SENETEK, its AFFILIATES or
its LICENSEES for the purpose of manufacturing and/or commercializing the PRODUCTS shall be obtained for them. The INSTITUTE shall claim no rights thereto. 
 16. SENETEK accepts the obligation to inform by writing the INSTITUTE of all administrative marketing approvals that it obtains for the purpose of manufacturing and/or commercializing the PRODUCTS no later than 3 (three) months after
obtaining such final authorizations. 
 *** Confidential treatment has been requested 
  

 18

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