Document:

Exhibit

GRAPHIC PACKAGING INTERNATIONAL, INC. 

NON-QUALIFIED DEFERRED COMPENSATION PLAN

Effective November 1, 2017

GRAPHIC PACKAGING INTERNATIONAL, INC.
NON-QUALIFIED DEFERRED COMPENSATION PLAN

Effective as of the first day of November, 2017, Compensation and Benefits Committee of the Board of Directors of Graphic Packaging Holding Company (the “Compensation and Benefits Committee”) hereby amends and restates the Graphic Packaging International, Inc. Non-Qualified Deferred Compensation Plan (the “Plan”).

BACKGROUND AND PURPOSE

A.    Background.  The Plan was initially adopted by Graphic Packaging International, Inc. (the “GPI”) effective July 1, 2011, and has been amended since that date.  The Plan, as set forth in this document, is intended to be, and should be construed as, a restatement and continuation of the Plan as previously in effect.

B.    Goal.  The Compensation and Benefits Committee desires to provide its designated key management employees (and those of its affiliated companies that participate in the Plan) with an opportunity to defer the receipt and income taxation of a portion of such employees’ annual base salary and incentive payments, and to provide certain of these employees contributions made by GPI.

C.    Purpose.  The purpose of the Plan document is to set forth the terms and conditions pursuant to which these deferrals and employer contributions may be made and to describe the nature and extent of the employees’ rights to such amounts.

D.    Type of Plan.  The Plan constitutes an unfunded, nonqualified deferred compensation plan that benefits certain designated employees who are within a select group of key management or highly compensated employees.  The Plan is intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended.

STATEMENT OF AGREEMENT

To amend and restate the Plan with the purposes and goals as hereinabove described, the Compensation and Benefits Committee hereby sets forth the terms and provisions of the Plan as follows:

TABLE OF CONTENTS
	
				
	Article I DEFINITIONS
	1
	

	1.1
	Account
	1
	

	1.2
	Base Salary
	1
	

	1.3
	Base Salary Deferral Contributions
	1
	

	1.4
	Base Salary Election
	1
	

	1.5
	Beneficiary
	1
	

	1.6
	Board
	1
	

	1.7
	Change in Control
	1
	

	(a)
	Change in the Ownership of GPHC or GPI
	1
	

	(b)
	Change in the Effective Control of GPHC or GPI
	2
	

	(c)
	Change in the Ownership of a Substantial Portion of GPHC’s or GPI’s Assets
	2
	

	(d)
	Compliance with Section 409A
	2
	

	1.8
	Charter
	2
	

	1.9
	Code
	2
	

	1.10
	Compensation
	2
	

	1.11
	Compensation and Benefits Committee
	3
	

	1.12
	Controlled Group
	3
	

	1.13
	DC SERP Contributions
	3
	

	1.14
	Deferral Contributions
	3
	

	1.15
	Deferral Election
	3
	

	1.16
	Divestiture Termination
	3
	

	1.17
	Effective Date
	3
	

	1.18
	Eligible Employee
	3
	

	1.19
	ERISA
	3
	

	1.20
	Executive Contributions
	3
	

	1.21
	Excess Compensation
	3
	

	1.22
	FICA Tax
	3
	

	1.23
	Financial Hardship
	3
	

	1.24
	GPHC
	4
	

	1.25
	GPI
	4
	

	1.26
	Grandfathered Executive
	4
	

	1.27
	Incentive Deferral Contributions
	4
	

	1.28
	Incentive Election
	4
	

	1.29
	Incentive Payments
	4
	

	1.30
	Investment Election
	4
	

	1.31
	Investment Funds
	4
	

	1.32
	Matching Contributions
	4
	

	1.33
	Participant
	5
	

	1.34
	Pension Plan Ineligible Employee
	5
	

	1.35
	Performance-Based Incentive
	5
	

i

	
				
	1.36
	Plan
	6
	

	1.37
	Plan Year
	6
	

	1.38
	Recordkeeper
	6
	

	1.39
	Retirement Committee
	6
	

	1.40
	Separate from Service or Separation from Service
	6
	

	(a)
	Leaves of Absence
	6
	

	(b)
	Status Change
	7
	

	(c)
	Termination of Employment
	7
	

	1.41
	Supplemental Company Contributions
	7
	

	1.42
	Surviving Spouse
	7
	

	1.43
	Total Disability or Totally Disabled
	7
	

	1.44
	Trust or Trust Agreement
	8
	

	1.45
	Trustee
	8
	

	1.46
	Trust Fund
	8
	

	1.47
	Valuation Date
	8
	

	1.48
	Years of Service
	8
	

	Article II ELIGIBILITY AND PARTICIPATION
	9
	

	2.1
	Eligibility
	9
	

	2.2
	Procedure for Admission
	9
	

	2.3
	Eligibility for Matching Contributions
	9
	

	2.4
	Eligibility for Supplemental Company Contributions
	9
	

	2.5
	Eligibility for DC SERP Contributions
	9
	

	2.6
	Cessation of Eligibility
	9
	

	(a)
	Cessation of Eligible Status
	9
	

	(b)
	Inactive Participant Status
	9
	

	Article III PARTICIPANTS’ ACCOUNTS; DEFERRALS AND CREDITING
	11
	

	3.1
	Participants’ Accounts
	11
	

	(a)
	Establishment of Accounts
	11
	

	(b)
	Nature of Contributions and Accounts
	11
	

	(c)
	General Creditors
	11
	

	3.2
	Deferral Contributions
	11
	

	(a)
	General Rule
	11
	

	(b)
	Other Deferrals or Deductions
	11
	

	3.3
	Procedure for Base Salary Elections
	12
	

	(a)
	Effective Date
	12
	

	(b)
	Amount
	12
	

	3.4
	Procedure for Incentive Elections
	12
	

	(a)
	Effective Date
	12
	

	(b)
	Amount
	13
	

	3.5
	Irrevocability of Deferral Elections
	13
	

	3.6
	Crediting of Deferred Compensation
	13
	

	3.7
	Matching Contributions
	13
	

	3.8
	Supplemental Company Contributions
	14
	

ii

	
				
	(a)
	Generally
	14
	

	(b)
	Last Day Requirement
	14
	

	3.9
	DC SERP Contributions
	15
	

	3.10
	Executive Contributions
	15
	

	3.11
	Certain Divestitures
	15
	

	3.12
	Debiting of Distributions
	15
	

	3.13
	Crediting of Earnings
	15
	

	(a)
	Rate of Return
	15
	

	(b)
	Amount Invested
	15
	

	(c)
	Determination of Amount
	15
	

	3.14
	Vesting
	16
	

	(a)
	General
	16
	

	(b)
	Supplemental Company and DC SERP Contributions
	16
	

	(c)
	Executive Contributions
	16
	

	(d)
	Change in Control
	16
	

	(e)
	Death
	16
	

	(f)
	Disability
	17
	

	(g)
	Certain Divestitures
	17
	

	(h)
	Vesting as Provided on Exhibit A
	17
	

	3.15
	Notice to Participants of Account Balances
	17
	

	3.16
	Good Faith Valuation Binding
	17
	

	3.17
	Errors and Omissions in Accounts
	17
	

	Article IV INVESTMENT FUNDS
	18
	

	4.1
	Available Investment Funds
	18
	

	4.2
	Participant Direction of Deemed Investments
	18
	

	(a)
	Nature of Participant Direction
	18
	

	(b)
	Investment of Contributions
	18
	

	(c)
	Investment of Existing Account Balances
	18
	

	(d)
	Retirement Committee Discretion
	18
	

	(e)
	Failure to Make Investment Fund Selection
	19
	

	Article V PAYMENT OF BENEFITS
	20
	

	5.1
	Amount of Distribution
	20
	

	5.2
	Timing of Distribution
	20
	

	(a)
	Default Timing
	20
	

	(b)
	Election of Distribution Timing
	20
	

	(c)
	2011 Employer Contributions
	21
	

	(d)
	Compensation and Benefits Committee Discretion
	21
	

	(e)
	Special Timing Designations
	21
	

	5.3
	Form of Distribution
	21
	

	(a)
	Single-Sum Payment
	21
	

	(b)
	Annual Installments
	21
	

	(c)
	2011 Employer Contributions
	21
	

	(d)
	Compensation and Benefits Committee Discretion
	22
	

iii

	
				
	(e)
	Special Form Designations
	22
	

	5.4
	Changing Time and/or Form of Distribution
	22
	

	5.5
	Death
	22
	

	(a)
	Before Scheduled Payment Date
	22
	

	(b)
	While Receiving Installment Payments
	22
	

	5.6
	Cash-Out
	23
	

	5.7
	Hardship Distributions
	23
	

	5.8
	Taxes
	23
	

	5.9
	Offset of Benefit by Amounts Owed to GPI
	23
	

	5.10
	Permissible Acceleration or Delay of Payments
	24
	

	(a)
	Acceleration of Payments
	24
	

	(b)
	Delay of Payments
	24
	

	5.11
	Change in Control
	25
	

	(a)
	Discretionary Termination and Liquidation upon a Change in Control
	25
	

	(b)
	Other Accelerations Upon a Change in Control
	25
	

	5.12
	Pre-Effective Date Accounts
	25
	

	Article VI CLAIMS
	26
	

	6.1
	Participant Rights
	26
	

	6.2
	Initial Claim
	26
	

	6.3
	Appeal
	26
	

	6.4
	Satisfaction of Claims
	27
	

	Article VII SOURCE OF FUNDS; TRUST
	28
	

	7.1
	Source of Funds
	28
	

	7.2
	Trust
	28
	

	(a)
	Establishment
	28
	

	(b)
	Distributions
	28
	

	(c)
	Status of the Trust
	28
	

	7.3
	Funding Prohibition under Certain Circumstances
	28
	

	Article VIII RETIREMENT COMMITTEE
	29
	

	8.1
	Retirement Committee
	29
	

	(a)
	Adoption of Charter
	29
	

	(b)
	Retirement Committee
	29
	

	8.2
	Rights and Duties
	29
	

	8.3
	Compensation, Indemnity and Liability
	30
	

	Article IX AMENDMENT AND TERMINATION
	31
	

	9.1
	Amendments
	31
	

	9.2
	Plan Freeze or Termination
	31
	

	(a)
	Freezing Plan Benefits
	31
	

	(b)
	Plan Termination
	31
	

	Article X MISCELLANEOUS
	32
	

	10.1
	Beneficiary Designation
	32
	

	(a)
	General
	32
	

	(b)
	No Designation or Designee Dead or Missing
	32
	

iv

	
				
	(c)
	Forfeiture of Benefits by Certain Individuals
	32
	

	10.2
	Distribution pursuant to a Domestic Relations Order
	32
	

	(a)
	Distribution Due to Domestic Relations Order
	32
	

	(b)
	Requirements of a Domestic Relations Order
	33
	

	(c)
	Domestic Relations Order Review Authority
	33
	

	10.3
	Headings
	33
	

	10.4
	Gender and Number
	33
	

	10.5
	Assignment of Benefits
	33
	

	10.6
	Legally Incompetent
	33
	

	10.7
	Governing Law
	34
	

	10.8
	Tax Effects
	34
	

	EXHIBIT B SPECIAL PROVISIONS
	A-1
	

v

Article I 
DEFINITIONS
For purposes of the Plan, the following terms, when used with an initial capital letter, will have the meaning set forth below unless a different meaning plainly is required by the context.
1.1    Account means, with respect to a Participant or Beneficiary, the total dollar amount or value evidenced by the last balance posted and actually credited in accordance with the terms of the Plan to the account record established for such Participant or Beneficiary.
1.2    Base Salary means, with respect to a Participant for a Plan Year, the Participant’s Compensation, excluding any Incentive Payments and excluding any payments made under the Graphic Packaging Holding Company 2014 Omnibus Stock and Incentive Compensation Plan (or any similar long-term incentive arrangement, as determined by the Retirement Committee) for such Plan Year.
1.3    Base Salary Deferral Contributions means, for each Plan Year, the portion of a Participant’s Deferral Contributions attributable to his Base Salary Election for such Plan Year.
1.4    Base Salary Election means a written, electronic or other form of election pursuant to which a Participant may elect to defer under the Plan a portion of his Base Salary.
1.5    Beneficiary means, with respect to a Participant, the person(s) designated or identified in accordance with Section 10.1 to receive any death benefits that may be payable under the Plan upon the death of the Participant.
1.6    Board means the Board of Directors of GPHC.
1.7    Change in Control means any of the events specified in subsections (a), (b), or (c) below, subject to the rules described in subsection (d) below:
(a)    Change in the Ownership of GPHC or GPI  means a situation where any one person, or more than one person acting as a group (as described in Treasury Regulations), acquires ownership of stock of GPHC or GPI that, together with stock held by such person or group constitutes more than 50 percent of the total fair market value or total voting power of the stock of GPHC or GPI, as applicable.  However, if any one person, or more than one person acting as a group, is considered to own more than 50 percent of the total fair market value or total voting power of the stock of GPHC or GPI, the acquisition of additional stock by the same person or persons is not considered to cause a Change in Control.  An increase in the percentage of stock owned by any one person, or persons acting as a group, as a result of a transaction in which GPHC or GPI acquires its stock in exchange for property will be treated as an acquisition of stock for purposes of this subsection.  This subsection applies only when there is a transfer of stock of GPHC or GPI (or issuance of stock of GPHC or GPI) and stock of GPHC or GPI, as applicable, remains outstanding after the transaction.

1

(b)    Change in the Effective Control of GPHC or GPI.  A majority of members of the board of directors of GPHC or GPI is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of such board of directors before the date of the appointment or election.
(a)    Change in the Ownership of a Substantial Portion of GPHC’s or GPI’s Assets .  Any one person or more than one person acting as a group, that is not affiliated with GPHC or GPI, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by such person or persons) assets from GPHC or GPI that have a total gross fair market value equal to or more than 80 percent of the consolidated total gross fair market value of all of the assets of GPHC or GPI, as applicable, immediately before such acquisition or acquisitions.  For this purpose, gross fair market value means the value of the assets of GPHC or GPI, as applicable, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.
(A)    There is no Change in Control under this subsection (c) when there is a transfer to an entity that is controlled by the shareholders of GPHC or GPI immediately after the transfer, as provided in Treasury Regulations.  
(2)    For purposes of this subsection (c) and except as otherwise provided in Treasury Regulations, a person’s status is determined immediately after the transfer of the assets.  For example, a transfer to a company in which GPHC or GPI has no ownership interest before the transaction, but that is a majority-owned subsidiary of GPHC or GPI after the transaction, is not treated as a Change in Control.
(b)    Compliance with Section 409A.  The definition of “Change in Control” as described in this Section is intended to satisfy all requirements under Treasury Regulations Section 1.409A-3(i)(5), and shall be construed accordingly.  In no event will any payment of “nonqualified deferred compensation” (as such term is defined for purposes of Code Section 409A) be triggered hereunder upon a Change in Control unless the Change in Control event satisfies all applicable requirements of such regulation.
1.8    Charter means the Charter of the Retirement Committee of Graphic Packaging International, Inc., as amended from time to time or such other charter or operating procedures adopted by the Board which defines the scope of the Retirement Committee’s authorities and responsibilities with respect to the Plan.
1.9    Code means the Internal Revenue Code of 1986, as amended.
1.10    Compensation has the meaning ascribed to such term in the GPI Savings Plan, for purposes of determining the amount of contributions under such plan, without regard to the limitation in Section 401(a)(17) of the Code for such Plan Year and determined without regard to whether such amounts are payable directly to the Participant or are deferred, at the election of the Participant, pursuant to Code Section 401(k), 125 or 132(f)(4) or under this Plan.  

2

1.11    Compensation and Benefits Committee means the Compensation and Benefits Committee of the Board.
1.12    Controlled Group means all of the companies that are either (i) members of the same controlled group of corporations (within the meaning of Code Section 414(b)) or (ii) under common control (within the meaning of Code Section 414(c)) with the GPHC.
1.13    DC SERP Contributions means the amount (if any) credited to a Participant’s Account pursuant to Section 3.9.
1.14    Deferral Contributions means, for each Plan Year, that portion of a Participant’s Compensation deferred under the Plan pursuant to Section 3.2.
1.15    Deferral Election means a Participant’s Base Salary Election and Incentive Election, as applicable.
1.16    Divestiture Termination means, with respect to a Participant, such Participant’s termination of employment with GPI as part of GPHC’s or GPI’s agreement to sell a division, group, facility or other segment of such company’s business, to the extent designated by the Retirement Committee (as set forth in the records of the Retirement Committee).
1.17    Effective Date means November 1, 2017, the date that this restatement of the Plan generally will be effective.  The Plan was originally effective July 1, 2011.
1.18    Eligible Employee means any employee of GPI if such employee is paid at salary grade 100 or above, as determined by the Retirement Committee, or any other employee of GPI selected for participation by the Compensation and Benefits Committee.
1.19    ERISA means the Employee Retirement Income Security Act of 1974, as amended.
1.20    Executive Contributions means the amount (if any) credited to a Participant’s Account pursuant to Section 3.10.
1.21    Excess Compensation means, with respect to a Plan Year, the amount by which a Participant’s Compensation exceeds the limitation in Code Section 401(a)(17) for such Plan Year.
1.22    FICA Tax means mean the Federal Insurance Contributions Act tax imposed under Code Sections 3101, 3121(a) and 3121(v)(2).
1.23    Financial Hardship means a severe financial hardship to the Participant resulting from a sudden and unexpected illness or accident of the Participant, the Participant’s spouse, the Participant’s Beneficiary, or the Participant’s dependent (as defined in Code Section 152, without regard to subsections (b)(1), (b)(2), and (d)(1)(B) thereof), loss of the Participant’s property due to casualty, or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the control of the Participant.  Financial Hardship will be determined by the Retirement Committee on the basis of the facts of each case, including information supplied by the Participant in accordance with uniform guidelines prescribed from time to time by the Retirement Committee; 

3

provided, the Participant will be deemed not to have a Financial Hardship to the extent that such hardship is or may be relieved:
(a)    Through reimbursement or compensation by insurance or otherwise;
(b)    By liquidation of the Participant’s assets, to the extent the liquidation of assets would not itself cause severe financial hardship; or
(c)    By cessation of deferrals under the Plan.
Examples of what are not considered to be unforeseeable emergencies include the need to send a Participant’s child to college or the desire to purchase a home.
1.24    GPHC means Graphic Packaging Holding Company.
1.25    GPI means Graphic Packaging International, Inc. a Delaware corporation.
1.26    Grandfathered Executive means an Eligible Employee who as of any Plan Year is eligible for benefit accruals under the (i) Graphic Packaging Supplemental Retirement Plan, (ii) Graphic Packaging International, Inc. Supplemental Plan for Participants in the Riverwood International Employees Retirement Plan, or (iii) Field Container Management Company, L.P. Executive Pension Plan.
1.27    Incentive Deferral Contributions means, for each Plan Year, the portion of a Participant’s Deferral Contributions attributable to his Incentive Election for such year.
1.28    Incentive Election means a written, electronic or other form of election pursuant to which a Participant may elect to defer under the Plan all or a portion of his Incentive Payments.
1.29    Incentive Payments means, with respect to a Participant for a year, the portion of a Participant’s Compensation attributable to amounts payable to the Participant for the year under the Management Incentive Plan, or such other arrangement identified by the Compensation and Benefits Committee as an annual incentive plan in which GPI participates; provided, any such designation will be made no later than the latest date on which a Participant could make an Incentive Election with respect to such incentive plan pursuant to Section 3.4. 
1.30    Investment Election means an election, made in such form as the Retirement Committee may direct, pursuant to which a Participant may elect the Investment Funds in which the amounts credited to his Account will be deemed to be invested.
1.31    Investment Funds means the investment funds selected from time to time by the Retirement Committee for purposes of determining the rate of return on amounts deemed invested pursuant to the terms of the Plan.
1.32    Matching Contributions means the amount (if any) credited to a Participant’s Account pursuant to Section 3.7.

4

1.33    Participant means any person who has been admitted to, and has not been removed from, participation in the Plan pursuant to the provisions of Article II.
1.34    Pension Plan Ineligible Employee means an Eligible Employee who is ineligible to accrue benefit service under the Riverwood International Employees’ Retirement Plan and under Appendix 1 of the Graphic Packaging Retirement Plan. A Pension Plan Ineligible Employee shall not include an Eligible Employee who is entitled to become a member of either plan referred to in the preceding sentence upon completion of the one year of service eligibility requirement.
1.35    Performance-Based Incentive means any Incentive Payment, the amount of which, or the entitlement to which, is contingent on the satisfaction of pre-established organizational or individual performance criteria relating to a performance period of at least 12 consecutive months.  For an Incentive Payment to be a Performance-Based Incentive, the following requirements must be met:
(a)    The performance criteria must be established in writing no later than 90 days after the beginning of the applicable “performance period”;
(b)    The outcome of the performance criteria must be substantially uncertain when the criteria are established; 
(c)    No Incentive Payment, or portion of any Incentive Payment, that will be paid either regardless of performance, or based upon a level of performance that is substantially certain to be met at the time the criteria are established, will be considered a Performance-Based Incentive;
(d)    A Performance-Based Incentive will not include payments based upon subjective performance criteria unless:
(1)    The subjective performance criteria are bona fide and relate to the Participant’s performance, the performance of a group of employees that includes the Participant, or the performance of a business unit for which the Participant provides services (which may include the entire Controlled Group); and 
(2)    The determination that any subjective performance criteria have been met is not made by the Participant or a family member of the Participant (as defined in Code Section 267(c)(4), applied as if the family of an individual includes the spouse of any member of the family), or a person under the effective control of the Participant or such a family member, and no amount of the compensation of the person making such determination is effectively controlled in whole or in part by the Participant or such a family member.
A Performance-Based Incentive that otherwise meets the above criteria may provide for payment regardless of satisfaction of the performance criteria upon the Participant’s death, total disability (defined as a medically determinable physical or mental impairment resulting in the Participant’s inability to perform the duties of his position or any substantially similar position, where such impairment can be expected to result in death or can be expected to last for a continuous period of not less than 6 months), or a change in control event (as defined in Treasury Regulations Section 

5

1.409A-3(i)(5)(i)).  Any amount that actually becomes payable upon such events without regard to the satisfaction of the performance criteria will not be considered a Performance-Based Incentive to which a Deferral Election under Section 3.4(a)(2) may apply.

1.36    Plan means the Graphic Packaging International, Inc. Non-Qualified Deferred Compensation Plan, as contained herein and all amendments hereto.  For tax purposes and purposes of Title I of ERISA, the Plan is intended to be an unfunded, nonqualified deferred compensation plan covering certain designated employees who are within a select group of key management or highly compensated employees.
1.37    Plan Year means the 12-consecutive-month period ending on December 31 of each year.
1.38    Recordkeeper means the third-party company or organization appointed by the Retirement Committee to carry out certain administrative responsibilities under the Plan.  To the extent that a company is not appointed as the Recordkeeper, the Retirement Committee or such individual employee or employees of GPI as the Retirement Committee may appoint will serve as Recordkeeper.
1.39    Retirement Committee means the committee which is maintained and governed in accordance with the Charter and will act to administer the Plan as provided in Article VIII.  References in this Plan to the Retirement Committee shall also refer to the delegates and agents of the Retirement Committee, including, where appropriate, the Recordkeeper.
1.40    Separate from Service or Separation from Service means, with respect to a Participant, that such Participant has separated from service, as defined under Code Section 409A and the guidance issued thereunder, with GPI and all members of the Controlled Group.  Generally, a Participant separates from service if the Participant retires or otherwise has a termination of employment with GPI and all members of the Controlled Group (other than due to his death), as determined in accordance with the following:
(a)    Leaves of Absence.  The employment relationship is treated as continuing intact while the Participant is on military leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed 6 months, or, if longer, so long as the Participant retains a right to reemployment with GPI or a member of the Controlled Group under an applicable statute or by contract.  Notwithstanding the foregoing, where a leave of absence is due to the Participant’s “disability”, a 29-month period of absence will be substituted for such six-month period.  For this purpose, “disability” means any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six months, where the impairment causes the Participant to be unable to perform the duties of his or her position of employment or any substantially similar position of employment.  A leave of absence constitutes a bona fide leave of absence only while there is a reasonable expectation that the Participant will return to perform services for GPI or a member of the Controlled Group.  If the period of leave exceeds 6 months (or 29 months in the case of “disability”) and the Participant does not retain a right to reemployment under an applicable statute or by contract, the employment 

6

relationship is deemed to terminate on the first date immediately following such six-month or 29-month period, as applicable.
(b)    Status Change.  Generally, if a Participant performs services both as an employee and an independent contractor, such Participant must separate from service both as an employee, and as an independent contractor pursuant to standards set forth in Treasury Regulations, to be treated as having a Separation from Service.  However, if a Participant provides services as an employee and as a member of the Board (or a member of the board of directors, or analogous position, of a Controlled Group member), the services provided as a director are not taken into account in determining whether the Participant has a Separation from Service as an employee for purposes of this Plan (or vice versa).
(c)    Termination of Employment.  Whether a termination of employment has occurred is determined based on whether the facts and circumstances indicate that GPI, all members of the Controlled Group and the Participant reasonably anticipate (i) that no further services will be performed after a certain date, or (ii) the level of bona fide services the Participant will perform after such date (whether as an employee or as an independent contractor) will permanently decrease to no more than 20 percent of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period (or the full period of services to GPI and all members of the Controlled Group if the Participant has been providing services to GPI and all members of the Controlled Group for less than 36 months).  Facts and circumstances to be considered in making this determination include, but are not limited to, whether the Participant continues to be treated as an employee for other purposes (such as continuation of salary and participation in employee benefit programs), whether similarly situated service providers have been treated consistently, and whether the Participant is permitted, and realistically available, to perform services for other service recipients in the same line of business.  For periods during which a Participant is on a paid bona fide leave of absence and has not otherwise terminated employment as described in subsection (a) hereof, for purposes of this subsection (c) the Participant is treated as providing bona fide services at a level equal to the level of services that the Participant would have been required to perform to receive the compensation paid with respect to such leave of absence.  Periods during which a Participant is on an unpaid bona fide leave of absence and has not otherwise terminated employment are disregarded for purposes of this subsection (c) (including for purposes of determining the applicable 36-month (or shorter) period).
1.41    Supplemental Company Contributions means the amount (if any) credited to a Participant’s Account pursuant to Section 3.8.
1.42    Surviving Spouse means, with respect to a Participant, the person who is treated as legally married to such Participant under the laws of the state in which the Participant resides.  The determination of a Participant’s Surviving Spouse will be made as of the date of such Participant’s death.
1.43    Total Disability or Totally Disabled means, with respect to a Participant, a determination by the Retirement Committee that a Participant is either (i) unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not 

7

less than twelve months, or (ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or last for a continuous period of not less than twelve months, receiving income replacement benefits for a period of not less than three months under an accident and health plan of GPI.  A Participant will be considered Totally Disabled if he is determined to be totally disabled by the Social Security Administration or the Railroad Retirement Board.  Notwithstanding the above, all determinations of whether a Participant is Totally Disabled will only be made in a manner consistent with Code Section 409A and the regulations thereunder.
1.44    Trust or Trust Agreement means the separate agreement or agreements between GPI and the Trustee governing the Trust Fund, and all amendments thereto.
1.45    Trustee means the party or parties so designated from time to time pursuant to the terms of the Trust Agreement.
1.46    Trust Fund means the total amount of cash and other property held by the Trustee (or any nominee thereof) at any time under the Trust Agreement.
1.47    Valuation Date means each business day of the Plan Year that the New York Stock Exchange is open.
1.48    Years of Service means each year of an Eligible Employee’s service with GPI and any Controlled Group member, determined in accordance with the elapsed time method in Treasury Regulations Section 1.410(a)-7.  An Eligible Employee’s period of service with any acquired or predecessor employer, to the extent not otherwise counted hereunder, will be taken into account in determining his Years of Service to the extent, and under such conditions, as may be determined by the Retirement Committee.

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ARTICLE II     
ELIGIBILITY AND PARTICIPATION
2.1    Eligibility.
Each individual who is an Eligible Employee will become a Participant beginning on the first day that he is an Eligible Employee.
2.2    Procedure for Admission.
Each Eligible Employee will become eligible to make a Deferral Election by completing such written and/or electronic forms and providing such data in a timely manner, as are required by the Retirement Committee.  Such forms and data may include, without limitation, the Eligible Employee’s acceptance of the terms and conditions of the Plan, and the designation of a Beneficiary to receive any death benefits payable hereunder. 
2.3    Eligibility for Matching Contributions.
Except as otherwise determined by the Compensation and Benefits Committee in its sole discretion, each Eligible Employee who is not a Grandfathered Executive is eligible to receive Matching Company Contributions.
2.4    Eligibility for Supplemental Company Contributions.
Except as otherwise determined by the Compensation and Benefits Committee in its sole discretion, each Eligible Employee who is not a Grandfathered Executive will become eligible to receive Supplemental Company Contributions as of the payroll period coincident with or next following his completion of 1 Year of Service.
2.5    Eligibility for DC SERP Contributions.
Except as otherwise determined by the Compensation and Benefits Committee in its sole discretion, each Eligible Employee who (i) is paid at salary grade 110 or above, as determined by the Retirement Committee and (ii) is not a Grandfathered Executive is eligible to receive DC SERP Contributions. 

2.6    Cessation of Eligibility.
(a)    Cessation of Eligible Status.  If an individual ceases to satisfy the criteria which qualified him as an Eligible Employee, he will not be eligible to make subsequent Deferral Elections; provided, any Deferral Elections then in effect will continue to be effective until such time as the Deferral Election will expire or may be revoked pursuant to the terms of Article III.
(b)    Inactive Participant Status.  Even if his active participation in the Plan ends, an employee will remain an inactive Participant in the Plan until the earlier of (i) the date the full amount of his Account (if any) is distributed from the Plan, or (ii) the date he again becomes 

9

an Eligible Employee and recommences active participation in the Plan.  During the period of time that an employee is an inactive Participant in the Plan, his Account will continue to be credited with earnings and/or losses as provided for in Section 3.13.

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ARTICLE III     
PARTICIPANTS’ ACCOUNTS; DEFERRALS AND CREDITING
3.1    Participants’ Accounts.
(a)    Establishment of Accounts.  The Retirement Committee will establish and maintain an Account on behalf of each Participant.  To the extent provided herein, each Account will be credited with (i) Deferral Contributions (separated as necessary or helpful into Base Salary Deferral Contributions and Incentive Deferral Contributions), (ii) Matching Contributions, (iii) Supplemental Company Contributions, (iv) DC SERP Contributions, (v) Executive Contributions, and (vi) earnings attributable to such Account, and will be debited by the amount of all distributions.  Each Account of a Participant will be maintained until the value thereof has been distributed to or on behalf of such Participant or his Beneficiary.
(b)    Nature of Contributions and Accounts.  The amounts credited to a Participant’s Account will be represented solely by bookkeeping entries.  Except as provided in Article VII, no monies or other assets will actually be set aside for such Participant, and all payments to a Participant or Beneficiary under the Plan will be made from the general assets of GPI.
(c)    General Creditors.  Any assets which may be acquired by GPI in anticipation of its obligations under the Plan will be part of the general assets of GPI.  GPI’s obligation to pay benefits under the Plan constitutes a mere promise of GPI to pay such benefits, and a Participant or Beneficiary will be and remain no more than an unsecured, general creditor of GPI.
3.2    Deferral Contributions.
(a)    General Rule.  Except as provided in subsection (b) hereof, each Eligible Employee who is or becomes eligible to participate in the Plan may elect to have Deferral Contributions made on his behalf by completing and delivering to the Retirement Committee (or its designee) a Deferral Election setting forth the terms of his election; provided, the Retirement Committee may allow or require separate or combined deferral elections for the elections set forth below.
(1)    Base Salary Election.  Subject to the terms and conditions set forth below, a Base Salary Election will provide for the reduction of an Eligible Employee’s Base Salary earned during the Plan Year for which the Base Salary Election is in effect.
(2)    Incentive Election.  Subject to the terms and conditions set forth below, an Incentive Election will provide for the reduction of an Eligible Employee’s Incentive Payment earned during the Plan Year for which the Incentive Election is in effect; provided, the Retirement Committee may require separate deferral elections with regard to different portions of a Participant’s Incentive Payments.
(b)    Other Deferrals or Deductions.  Notwithstanding the foregoing, if the total of (i) the Participant’s before-tax deferrals under any Controlled Group member’s Code Sections 401(k) and 125 plans, (ii) the Participant’s Deferral Contributions, and (iii) any FICA Tax applicable 

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to such Participant’s Compensation exceed 100 percent of his Compensation, unless GPI or Retirement Committee directs otherwise, the Code Sections 401(k) and 125 plan deferrals will be made first, followed by any FICA Tax withholding, and then the remaining Compensation will be deferred under the Plan subject to Section 3.3 or 3.4 as applicable.
3.3    Procedure for Base Salary Elections.
Subject to any modifications, additions or exceptions that the Retirement Committee, in its sole discretion, deems necessary, appropriate or helpful, the following terms will apply to Base Salary Elections:
(a)    Effective Date.  A Participant’s Base Salary Election must be made on or before the last day of the Plan Year immediately preceding the Plan Year for which he desires to participate, and it will be effective beginning with the paycheck for the first regular payroll period that begins during such Plan Year.  Except as otherwise provided in Section 3.5, a Participant’s Base Salary Election will remain in effect through the paycheck for the last payroll period beginning during the Plan Year.  A Participant must make a separate Base Salary Election with respect to each Plan Year.
(b)    Amount.  A Participant may elect to defer his Base Salary payable in each regular paycheck in 1 percent increments, up to a maximum of 50 percent (or such other maximum percentage and/or amount, if any, established by the Retirement Committee from time to time).
3.4    Procedure for Incentive Elections.
Subject to any modifications, additions or exceptions that the Retirement Committee, in its sole discretion, deems necessary, appropriate or helpful, the following terms will apply to Incentive Elections:
(a)    Effective Date.
(1)    General Rule.  Except as otherwise provided in subsection (a)(2) hereof, the Participant must deliver his Deferral Election to the Retirement Committee before the first day of the first calendar year during which the Incentive Payment is earned in whole or in part.
(2)    Performance-Based Incentive.  To the extent that the Retirement Committee determines that a Participant’s Incentive Payment is a Performance-Based Incentive, the Participant may deliver his Deferral Election to the Retirement Committee no later than the date that is 6 months before the end of the period over which the Incentive Payment is earned (i.e., by June 30 for an Incentive Payment with a calendar-year performance period).  In order to be eligible for the election deadline in this subsection (a)(2), the Participant must perform services continuously from the later of (i) the date the performance criteria for the Incentive Payment are established or (ii) the first day of the performance period (i.e., January 1 for an Incentive Payment with a calendar-year performance period) until the date the Participant makes his Deferral Election.  Furthermore, if all or a portion of the Participant’s 

12

Incentive Payment is “readily ascertainable” on the date the Participant makes a Deferral Election under this subsection (a)(2), the Participant’s Deferral Election under this subsection (a)(2) will apply only to the portion of such Incentive Payment that is not then “readily ascertainable,” if any.  The determination of when all or a portion of an Incentive Payment is “readily ascertainable” will be made pursuant to Code Section 409A, which generally provides that compensation is “readily ascertainable” when the amount is first both calculable and substantially certain to be paid.
(3)    Expiration of Deferral Election.  A Participant’s Incentive Election shall remain in effect with respect to only a single Incentive Payment.  A Participant must make a separate Incentive Election with respect to each Incentive Payment.
(b)    Amount.  A Participant may elect to defer his Incentive Payments in 1 percent increments, up to a maximum of 100 percent (or such other maximum percentage and/or amount, if any, established by the Retirement Committee from time to time).
3.5    Irrevocability of Deferral Elections.
Subject to any restrictions or procedures determined by the Retirement Committee, a Participant may change his Base Salary Election any time prior to the applicable deadline specified in Section 3.3(a) and may change his Incentive Election any time prior to the applicable deadline specified in subsection Section 3.4(a)(1) or 3.4(a)(2).  Upon the applicable deadline specified in the preceding sentence, the Participant’s Deferral Elections, or deemed election upon a failure to submit a timely election, will become irrevocable.  If a Participant is transferred from the employment of GPI to the employment of another member of the Controlled Group, his Deferral Elections with GPI will remain in effect and will apply to his Compensation from the Controlled Group member.  Notwithstanding the foregoing, the Retirement Committee shall cancel a Participant’s Deferral Elections for the remainder of the Plan Year upon a withdrawal due to Financial Hardship under Section 5.7.  The Retirement Committee will cancel a Participant’s Deferral Election upon the Participant’s hardship withdrawal from a Code Section 401(k) plan maintained by GPI or any member of the Controlled Group to the extent that such cancellation would be required under the terms of such Code Section 401(k) plan and will suspend participation in the Plan to the extent required under the terms of such Code Section 401(k) plan.
3.6    Crediting of Deferred Compensation.
The Retirement Committee will credit the amount of each Participant’s Deferral Contributions to his Account on, or as soon as practicable after, the Valuation Date on which such amount would have been paid to him but for his election hereunder.
3.7    Matching Contributions.
For each Participant who satisfies the eligibility requirements of Section 2.3 and on whose behalf GPI has made any Deferral Contributions with respect to a payroll period ending on or before December 31, 2017, or any other payment of Excess Compensation made on or before December 31, 2017, GPI will make, with respect to such payroll period or other payment of Excess 

13

Compensation, a Matching Contribution into such Participant’s Account equal to 100 percent of the first 3 percent of Excess Compensation and 50 percent of the next 2 percent of Excess Compensation contributed on behalf of the Participant to the Plan as Deferral Contributions.  For each Participant who satisfies the eligibility requirements of Section 2.3 and on whose behalf GPI has made any Deferral Contributions with respect to a payroll period ending after December 31, 2017, or any other payment of Excess Compensation made after December 31, 2017, GPI will make, with respect to such payroll period or other payment of Excess Compensation, a Matching Contribution into such Participant’s Account equal to 100 percent of the first 4 percent of Excess Compensation and 50 percent of the next 3 percent of Excess Compensation contributed on behalf of the Participant to the Plan as Deferral Contributions.  The Retirement Committee will credit Matching Contributions to the Account of a Participant as soon as reasonably practicable after the last day of the Plan Year for which the Matching Contributions relate.
3.8    Supplemental Company Contributions.
(a)    Generally.  For each Participant who satisfies the eligibility requirements of Section 2.4 and the employment requirements of subsection (b) hereof, GPI will make a Supplemental Company Contribution to such Participant’s Account equal to 3 percent of the Participant’s Excess Compensation for the portion of the Plan Year during which the Participant (i) satisfies the eligibility requirements of Section 2.4 and (ii) is a Pension Plan Ineligible Employee.  The Retirement Committee will credit Supplemental Company Contributions to the Account of a Participant as soon as reasonably practicable after the last day of the Plan Year to which the Supplemental Company Contributions relate.
(b)    Last Day Requirement.  A Participant will be eligible for a Supplemental Company Contribution for a Plan Year if he:
(1)    is a Pension Plan Ineligible Employee during that Plan Year; and 
(2)    satisfies one of the following requirements for the Plan Year: 
(A)    is an employee of GPI on the last day of the Plan Year (including employees who are on a leave of absence on the last day of the Plan Year);
(B)    terminates employment during the Plan Year after reaching age 55 and the sum of his age plus Years of Service equals at least 65;
(C)    becomes Totally Disabled during the Plan Year while in active employment;
(D)    dies during the Plan Year while in active employment;
(E)    is involuntarily terminated without cause during the Plan Year and has entered into the appropriate release agreement with GPI; or
(F)    experiences a Divestiture Termination.

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3.9    DC SERP Contributions.  
For each Participant who satisfies the eligibility requirements of Section 2.5, GPI will make a DC SERP Contribution to such Participant’s Account equal to 3 percent of a Participant’s Compensation for the portion of the Plan Year during which the Participant satisfies the eligibility requirements of Section 2.5.  The Retirement Committee will credit DC SERP Contributions to the Account of a Participant as soon as reasonably practicable after the last day of the Plan Year to which the DC SERP Contributions relate.
3.10    Executive Contributions.
At such time or times, in such amount(s) and under such terms as the Compensation and Benefits Committee, in its sole discretion, may determine; the Compensation and Benefits Committee may approve crediting to the Account of any Eligible Employee an Executive Contribution, which will be described in Exhibit A.
3.11    Certain Divestitures.
Notwithstanding anything in this Article III to the contrary, if a Participant experiences a Divestiture Termination during a Plan Year, any Matching Contributions, Supplemental Company Contributions, or DC SERP Contributions to which such Participant is entitled under the terms of Sections 3.7, 3.8, or 3.9 shall be allocated to such Participant’s Account no later than as soon as administratively practicable after the date of such Divestiture Termination.
3.12    Debiting of Distributions.
As of each Valuation Date, the Recordkeeper will debit each Participant’s Account for any amount distributed from such Account since the immediately preceding Valuation Date.
3.13    Crediting of Earnings.
As of each Valuation Date, the Recordkeeper will credit to each Participant’s Account the amount of earnings and/or losses applicable thereto for the period since the immediately preceding Valuation Date.  Such crediting of earnings and/or losses will be effected as of each Valuation Date, as follows:
(a)    Rate of Return.  The Recordkeeper first will determine a rate of return for the period since the immediately preceding Valuation Date for each of the Investment Funds;
(b)    Amount Invested.  The Recordkeeper next will determine the amount of (i) each Participant’s Account that was deemed invested in each Investment Fund as of the immediately preceding Valuation Date; minus (ii) the amount of any distributions debited from the amount determined in clause (i) since the immediately preceding Valuation Date; and
(c)    Determination of Amount.  The Recordkeeper will then apply the rate of return for each Investment Fund for such Valuation Date (as determined in subsection (a) hereof) to the amount of the Participant’s Account deemed invested in such Investment Fund for such 

15

Valuation Date (as determined in subsection (b) hereof), and the total amount of earnings and/or losses resulting therefrom will be credited to such Participant’s Account as of the applicable Valuation Date.
3.14    Vesting.
(a)    General.  A Participant will at all times be fully vested in his Deferral Contributions, Matching Contributions, and the earnings and/or losses credited to his Account with respect to such Deferral Contributions and Matching Contributions.
(b)    Supplemental Company and DC SERP Contributions.  Except as provided in subsections (d) through (g) hereof, a Participant will vest in the Supplemental Company Contributions, DC SERP Contributions, and the earnings and/or losses credited to his Account with respect to such Supplemental Company Contributions and DC SERP Contributions, in accordance with the following vesting schedule, based on the total of the Participant’s Years of Service:
	
		
	       Years of Service
Completed by Participant
	Vested Percentage of
Participant’s Account

	Less than 1 Year
	0%

	1 Year, but less than 2
	20%

	2 Years, but less than 3
	40%

	3 Years, but less than 4
	60%

	4 Years, but less than 5
	80%

	5 Years or more
	100%

(c)    Executive Contributions.  A Participant will vest in any Executive Contributions, and the earnings and/or losses credited to his Account with respect to such Executive Contributions, in accordance with the applicable vesting schedule described in Exhibit A.
(d)    Change in Control.  If a Change in Control occurs with respect to a Participant, the Participant shall be immediately 100 percent vested in the Supplemental Company Contributions, DC SERP Contributions, and the earnings and/or losses credited to his Account with respect to such Supplemental Company Contributions and DC SERP Contributions as of the date of such Change in Control.  Supplemental Company Contributions, DC SERP Contributions, and the earnings and/or losses credited to his Account with respect to such Supplemental Company Contributions and DC SERP Contributions after the date of a Change in Control shall continue to vest in accordance with the vesting schedule in subsection (b) hereof.
(e)    Death.  Any Participant who dies while an Eligible Employee will be 100 percent vested in the Supplemental Company Contributions, DC SERP Contributions, and the earnings and/or losses credited to his Account with respect to such Supplemental Company Contributions and DC SERP Contributions as of the date is death.
(f)    Disability.  Any Participant who becomes Totally Disabled while an Eligible Employee will be 100 percent vested in the Supplemental Company Contributions, DC SERP 

16

Contributions, and the earnings and/or losses credited to his Account with respect to such Supplemental Company Contributions and DC SERP Contributions as of the date he is deemed Totally Disabled.
(g)    Certain Divestitures.  Any Participant who experiences a Divestiture Termination will be 100 percent vested in the Supplemental Company Contributions, DC SERP Contributions, and the earnings and/or losses credited to his Account with respect to such Supplemental Company Contributions and DC SERP Contributions as of the date of such Divestiture Termination.
(h)    Vesting as Provided on Exhibit A.  Notwithstanding anything set forth in this Section 3.14 to the contrary, the vesting schedules and rules described on Exhibit A hereto shall determine the vesting of all or a portion of certain Participants’ Accounts, as provided on Exhibit A.
3.15    Notice to Participants of Account Balances.
At least once for each Plan Year, the Retirement Committee or the Recordkeeper will cause a written statement of a Participant’s Account balance to be distributed to the Participant.

3.16    Good Faith Valuation Binding.
In determining the value of the Accounts, the Recordkeeper will exercise its best judgment, and all such determinations of value (in the absence of bad faith) will be binding upon all Participants and their Beneficiaries.
3.17    Errors and Omissions in Accounts.
If an error or omission is discovered in the Account of a Participant or in the amount of a Participant’s deferrals, the Retirement Committee, in its sole discretion, will cause the Recordkeeper to make appropriate, equitable adjustments as soon as administratively practicable following the discovery of such error or omission.

17

ARTICLE IV     
INVESTMENT FUNDS
4.1    Available Investment Funds.
Unless otherwise determined by the Retirement Committee, the Investment Funds used for purposes of determining the rate of return on amounts deemed invested in accordance with the terms of the Plan shall be those investment funds then offered under the GPI Savings Plan, excluding any employer stock fund and substituting commercially available funds for any common or collective trust fund.  The Retirement Committee may change, add or remove Investment Funds on a prospective basis at any time(s) and in any manner it deems appropriate.
4.2    Participant Direction of Deemed Investments.
Each Participant generally may direct the manner in which his Account will be deemed invested in and among the Investment Funds; provided, such investment directions will be made in accordance with the following terms:
(a)    Nature of Participant Direction.  The selection of Investment Funds by a Participant will be for the sole purpose of determining the rate of return to be credited to his Account, and will not be treated or interpreted in any manner whatsoever as a requirement or direction to actually invest assets in any Investment Fund or any other investment media.  The Plan, as an unfunded, nonqualified deferred compensation plan, at no time will have any actual investment of assets relative to the benefits or Accounts hereunder.
(b)    Investment of Contributions.  Each Participant may make an Investment Election prescribing the percentage of the future contributions that will be deemed invested in each Investment Fund.  An initial Investment Election of a Participant will be made as of the date the Participant commences participation in the Plan and will apply to all contributions credited to such Participant’s Account after such date.  Such Participant may make subsequent Investment Elections as of any Valuation Date, and each such election will apply to all such specified contributions credited to such Participant’s Account after the Recordkeeper has a reasonable opportunity to process such election pursuant to such procedures as the Retirement Committee and the Recordkeeper may determine from time to time.  Any Investment Election made pursuant to this subsection (b) with respect to future contributions will remain effective until changed by the Participant.
(c)    Investment of Existing Account Balances.  Each Participant may make an Investment Election prescribing the percentage of his existing Account balance that will be deemed invested in each Investment Fund.  Such Participant may make such Investment Elections as of any Valuation Date, and each such election will be effective after the Recordkeeper has a reasonable opportunity to process such election.  Each such election will remain in effect until changed by such Participant.
(d)    Retirement Committee Discretion.  The Retirement Committee will have complete discretion to adopt and revise procedures to be followed in making such Investment Elections.  Such procedures may include, but are not limited to, the process of making elections, 

18

the permitted frequency of making elections, the incremental size of elections, the deadline for making elections, the effective date of such elections and whether and the extent to which to charge any Participant’s Account an administrative fee for making such Investment Elections.  Any procedures adopted by the Retirement Committee that are inconsistent with the deadlines or procedures specified in this Section will supersede such provisions of this Section without the necessity of a Plan amendment.
(e)    Failure to Make Investment Fund Selection.  To the extent that a Participant fails to make a proper, complete or timely Investment Fund selection, he will be deemed to have selected the available “Target Date Fund” based on the participant’s age or such other default Investment Fund that the Retirement Committee may select from time to time.

19

ARTICLE V     
PAYMENT OF BENEFITS
5.1    Amount of Distribution.
Except as otherwise provided in this Article V, each Participant (or his Beneficiary, if he dies before distribution of his Account) will be entitled to receive at the time set forth in Section 5.2 and in the form set forth in Section 5.3 a distribution of his vested Account, as adjusted as set forth in Sections 3.12, 3.13 and 3.14, determined as of the Valuation Date on which such distribution is processed.  For purposes of this Section, the “Valuation Date on which such distribution is processed” refers to the Valuation Date established for such purpose by administrative practice, even if actual payment is made or commenced at a later date due to delays in valuation, administration or any other procedure.  Neither GPI nor any other person will be liable to a Participant or Beneficiary for interest or investment losses due to an administrative delay in the processing of any payment under the Plan.
5.2    Timing of Distribution.
(a)    Default Timing.  Except as provided in subsections (b) through (e) hereof, and subject to the other terms of this Article V, the benefit payable to a Participant under Section 5.1 will be distributed 6 months after the date of such Participant’s Separation from Service.
(b)    Election of Distribution Timing.  A Participant may elect, as described in this subsection (b), to have Plan benefits paid upon the earliest of the default payment timing provided in subsection (a) and one or more the following events:
(1)    Specified Date.  
(A)    Deferral Elections.  A Participant may elect, at the time he makes each Deferral Election, to have his benefit payable with respect to that election paid upon any date specified in such election that is at least 3 years after the first day of the Plan Year with respect to which to the Deferral Election relates. A Participant may elect a different specified date with respect to each Base Salary Deferral Election and each Incentive Election.
(B)    Matching Contribution Elections.  A Participant may elect, at the time Base Salary Deferral Elections for a Plan Year are made, to have his benefit payable with respect to Matching Contributions for the Plan Year paid upon any date specified in such election that is at least 3 years after the first day of the Plan Year with respect to which to such election relates.    
(2)    Change in Control.
(A)    Deferral Elections.  A Participant may elect, at the time he makes each Deferral Election, to have his benefit payable with respect to that election paid upon the date that is 6 months after the date that a Change in Control occurs.

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(B)    Matching Contributions.  A Participant may elect, at the time Base Salary Deferral Elections for a Plan Year are made, to have his benefit payable with respect to Matching Contributions for the Plan Year paid upon the date that is 6 months after the date that a Change in Control occurs.
(C)    Supplemental Company Contributions and DC SERP Contributions.  A Participant may elect, at the time Base Salary Deferral Elections for a Plan Year are made, to have his benefit payable with respect to any Supplemental Company Contributions made for the same Plan Year, and to have his benefit payable with respect to any DC SERP Contributions made for the same Plan Year, paid upon the date that is 6 months after the date that a Change in Control occurs.
(c)    2011 Employer Contributions.  Notwithstanding any Participant’s election under subsection (b) hereof to the contrary, any portion of the benefit payable to a Participant under Section 5.1 that relates to Supplemental Company Contributions and/or DC SERP Contributions made on behalf of a Participant with respect to the 2011 Plan Year will paid upon the date that is 6 months after the date such Participant Separates from Service.
(d)    Compensation and Benefits Committee Discretion.  In lieu of allowing a Participant to make an election under subsection (b) hereof, the Compensation and Benefits Committee may, in its discretion, designate a time of distribution with respect to any portion of the benefit payable to a Participant under Section 5.1 that relates to Supplemental Company Contributions and/or DC SERP Contributions; provided, that such time of distribution is designated by the Compensation and Benefits Committee at the time such Supplemental Company Contributions and/or DC SERP Contributions are made.
(e)    Special Timing Designations.  Notwithstanding anything set forth in this Section 5.2 to the contrary, the special rules described on Exhibit A hereto shall determine the timing of the distribution of all or a portion of certain Participants’ Accounts, as provided on Exhibit A.
5.3    Form of Distribution.
(a)    Single-Sum Payment.  Except as provided in Section 5.4 or 5.5 or subsection (b), (c), or (d) hereof, the benefit payable to a Participant under Section 5.1 will be distributed in the form of a single-sum payment in cash.
(b)    Annual Installments.  At the time he makes an election under Section 5.2(b)(1) or 5.2(b)(2), a Participant may make an election in writing (or in any other format permitted by the Retirement Committee) to have his benefit payable with respect to that election paid in the form of 2 to 10 annual installment payments.  Annual installment payments under this subsection shall be treated as a single payment and not as a series of separate payments.
(c)    2011 Employer Contributions.  Notwithstanding any Participant’s election under this Section 5.3 to the contrary, any portion of the benefit payable to a Participant under Section 5.1 that relates to Supplemental Company Contributions and/or DC SERP Contributions 

21

made on behalf of a Participant with respect to the 2011 Plan Year will be distributed in the form of a single-sum payment in cash.
(d)    Compensation and Benefits Committee Discretion.  In lieu of allowing a Participant to make an election under subsection (b) hereof, the Compensation and Benefits Committee may, in its discretion, designate a distribution form with respect to any portion of the benefit payable to a Participant under Section 5.1 that relates to Supplemental Company Contributions and/or DC SERP Contributions; provided, that such form of distribution is designated by the Compensation and Benefits Committee at the time such Supplemental Company Contributions and/or DC SERP Contributions are made.
(e)    Special Form Designations.  Notwithstanding anything set forth in this Section 5.3 to the contrary, the special rules described on Exhibit A hereto shall determine the form of distribution of all or a portion of certain Participants’ Accounts, as provided on Exhibit A.
5.4    Changing Time and/or Form of Distribution.
With respect to any scheduled payment date under Section 5.2 or in accordance with this Section, a Participant may make an election to delay the payment of his total benefit payable on such date (the “Original Payment Date”) to a later date (the “New Payment Date”); provided, any such election to delay payment will be effective only if (i) the Participant makes the election to delay payment at least 12 months before his Original Payment Date, and (ii) the Participant’s New Payment Date is at least 5 years after his Original Payment Date.  A Participant who makes an election to delay the payment of his benefit pursuant to the preceding sentence may, at the time he makes such election, also elect to have the benefit paid on his New Payment Date in a single-sum payment or 2 to 10 annual installment payments, without regard to the form in which his benefit was scheduled to be paid on his Original Payment Date.  Subject to the requirements of this Section 5.4 and Code Section 409A, a Participant may make an election to delay a single payment date no more than twice.
5.5    Death.
(a)    Before Scheduled Payment Date.  Notwithstanding Sections 5.2, 5.3 and 5.4, if, with respect to any benefit payable to a Participant under Section 5.1, a Participant dies prior to date on which such payment is scheduled to be made or commence, such benefit will be paid to the Participant’s Beneficiary in a single-sum payment in cash at any time through the last day of the year following the year in which the Participant’s death occurs.
(b)    While Receiving Installment Payments.  Notwithstanding Sections 5.2, 5.3 and 5.4, if a Participant has begun receiving annual installment payments and dies before all scheduled annual installment payments have been made, any remaining installment payments will be paid to the Participant’s Beneficiary in a single-sum payment in cash at any time through the last day of the year following the year in which the Participant’s death occurs.

22

5.6    Cash-Out.
Notwithstanding anything in this Article V or a Participant’s election to the contrary, if a Participant’s total vested Account balance is less than $10,000 on the date of the Participant’s Separation from Service, such Participant’s Account will be distributed in a single lump-sum payment upon the date that is 6 months after the date of Separation from Service.
5.7    Hardship Distributions.
Upon receipt of an application for a hardship distribution and the Retirement Committee’s decision, made in its sole discretion, that a Participant has suffered a Financial Hardship, such Participant will be entitled to receive a hardship distribution.  Such distribution will be paid in a single-sum payment (provided that such Financial Hardship continues to exist on the date of the Retirement Committee’s determination).  The amount of such single-sum payment will be limited to the amount of the Participant’s Account that the Retirement Committee determines is reasonably necessary to meet the Participant’s requirements resulting from the Financial Hardship (which may include amounts necessary to pay any Federal, state, local, or foreign income taxes or penalties reasonably anticipated to result from the payment) taking into account any additional compensation that is available to the Participant pursuant to a cancellation of his existing Deferral Elections pursuant to Section 3.5.  No amount payable upon the Participant’s Separation from Service will be distributed, pursuant to this Section 5.7, within 6 months of such Separation from Service.
5.8    Taxes.
If the whole or any part of any Participant’s or Beneficiary’s Account becomes subject to any estate, inheritance, income, employment or other tax which GPI is required to pay or withhold, GPI will have the full power and authority to withhold and pay such tax out of any monies or other property that GPI holds for the account of the Participant or Beneficiary whose interests hereunder are so affected (other than any portion of the Participant’s or Beneficiary’s Account balance that is not then payable hereunder).  Without limiting the foregoing, if the whole or any part of any Participant’s or Beneficiary’s Account becomes subject to FICA Tax or any state, local or foreign tax which GPI is required to pay or withhold, GPI will have the full power and authority to withhold and pay such tax, together with any amounts required to be withheld with respect to such tax for income tax under Code Section 3401 or under a corresponding state income tax provision, by reducing and offsetting the Participant’s or Beneficiary’s Account balance, without regard to whether any portion of the Participant’s or Beneficiary’s Account balance is then payable hereunder.  
5.9    Offset of Benefit by Amounts Owed to GPI.
The Retirement Committee may not offset any payment or payments of benefit to a Participant under the Plan by any amount owed by such Participant to GPI or any member of the Controlled Group unless the following requirements are met:  (i) the debt owed to GPI or Controlled Group member was incurred in the ordinary course of the relationship between the Participant and GPI or Controlled Group member; (ii) the entire amount of offset to which this sentence applies in a single taxable year does not exceed $5,000; and (iii) the offset occurs at the same time and in the 

23

same amount as the debt otherwise would have been due and collected from the Participant or Beneficiary.

5.10    Permissible Acceleration or Delay of Payments.
(a)    Acceleration of Payments.  Except as otherwise provided in this Section, no payment scheduled to be made under this Article V may be accelerated.  Notwithstanding the foregoing, the Retirement Committee, in its sole discretion, may accelerate any payment scheduled to be made under this Article V in accordance with Code Section 409A (for example, upon certain terminations of the Plan (including, but not limited to, a termination of the Plan in connection with a Change in Control pursuant to Section 5.11), limited cash outs or to avoid certain conflicts of interest); provided, a Participant may not elect whether his scheduled payment will be accelerated pursuant to this sentence.  All payments scheduled to be made under this Article V shall be made no later than the date required under Code Section 409A.
(b)    Delay of Payments.  Except as otherwise provided in this Section, no payment scheduled to be made under this Article V may be delayed.  Notwithstanding the foregoing, the Retirement Committee, in its sole discretion, may delay any payment scheduled to be made under this Article V in accordance with Code Section 409A in any of the following circumstances as long as the Retirement Committee treats all payments to similarly situated Participants on a reasonably consistent basis.
(1)    The Retirement Committee may delay payment if it reasonably anticipates that its deduction with respect to such payment would be limited or eliminated by the application of Code Section 162(m).  Payment must be made during the Participant’s first taxable year in which the Retirement Committee reasonably anticipates, or should reasonably anticipate, that if the payment is made during such year the deduction of such payment will not be barred by the application of Code Section 162(m) or during the period beginning with the Participant’s Separation from Service and ending on the later of the last day of the Employer’s taxable year in which the Participant separates from service or the 15th day of the third month following the Participant’s Separation from Service.  If a scheduled payment to a Participant is delayed in accordance with this subsection (b)(1), all scheduled payments to the Participant that could be delayed in accordance with this Section (b)(1) will also be delayed.
(2)    The Retirement Committee may delay payment if it reasonably anticipates that the making of the payment will violate federal securities laws or other applicable laws provided payment is made at the earliest date on which the Retirement Committee reasonably anticipates that the making of the payment will not cause such violation.
(3)    The Compensation and Benefits Committee reserves the right to amend the Plan to provide for a delay in payment upon such other events and conditions as the Secretary of the Treasury may prescribe in generally applicable guidance published in the Internal Revenue Bulletin.

24

5.11    Change in Control.
(a)    Discretionary Termination and Liquidation upon a Change in Control.  The Compensation and Benefits Committee, in its sole discretion, may terminate and liquidate the Plan within the 30 days preceding or the 12 months following a Change in Control such that all Participants and Beneficiaries affected by the Change in Control shall receive all amount deferred under the Plan within 12 months of the date of such termination; provided, such acceleration of payments will be made only if all agreements, methods, programs, and other arrangements sponsored by GPI or any member of the Controlled Group immediately after the Change in Control with respect to which deferrals of compensation are treated as having been deferred under a single plan with the Plan under Treasury Regulation Section 1.409A-1(c)(2) are terminated and liquidated with respect to each participant that experienced the Change in Control, so that under the terms of the termination and liquidation all such participants are required to receive all amounts of compensation deferred under the terminated agreements, methods, programs, and other arrangements within 12 months of the date all necessary action to terminate and liquidate the agreements, methods, programs, and other arrangements are taken.
(b)    Other Accelerations Upon a Change in Control.  Except as otherwise provided under a Participant’s election under Section 5.2(b)(3) or upon the termination and liquidation of the Plan in the Compensation and Benefits Committee’s sole discretion pursuant to subsection (a) hereof, distributions from a Participant’s Account will not be made upon a Change in Control.
5.12    Pre-Effective Date Accounts.
Notwithstanding the foregoing provisions of this Article V, in the event of any inconsistency between these distribution provisions and the distribution terms applicable to any amounts in Participant Accounts that are attributable to (i) Deferral Elections with respect to compensation earned prior to the Effective Date, and any related Matching Contributions, (ii) Supplemental Company Contributions or DC SERP Contributions for any Plan Year that began prior to the Effective Date, or (iii) Executive Contributions credited to Accounts prior to the Effective Date, under the terms of the Plan as in effect prior to the Effective Date or under the terms of a Participant’s election made in accordance therewith (collectively, “Pre-Effective Date Distribution Terms”), such Pre-Effective Date Distribution Terms shall control with respect to the payment of any such amounts. 

25

ARTICLE VI     
CLAIMS
6.1    Participant Rights.
If a Participant has any grievance, complaint or claim concerning any aspect of the operation or administration of the Plan, including but not limited to claims for benefits, (referred to herein as “claim” or “claims”) the Participant will submit the claim in accordance with the procedures set forth in this Article VI.  All such claims must be submitted within the “applicable limitations period.”  The “applicable limitations period” will be 1 year, beginning on (i) in the case of any payment, the date on which the payment was made, or (ii) for all other claims, the date on which the action complained of occurred.  Additionally, upon denial of an appeal pursuant to Section 6.3 hereof, a Participant will have 1 year within which to bring suit for any grievance complaint or claim related to such denied appeal; any such suit initiated after such 1-year period will be precluded.

6.2    Initial Claim.
Claims for benefits under the Plan may be filed with the Retirement Committee on forms or in such other written documents, as the Retirement Committee may prescribe.  The Retirement Committee will furnish to the claimant written notice of the disposition of a claim within 90 days (45 days in the case of a claim regarding Total Disability) after the application therefor is filed; provided, if special circumstances require an extension of time for processing the claim, the Retirement Committee will furnish written notice of the extension to the claimant prior to the end of the initial 90-day period (45-day period in the case of a claim regarding Total Disability), and such extension will not exceed one additional, consecutive 90-day period (30-day period in the case of a claim regarding Total Disability, provided, if matters beyond the control of the Retirement Committee require an additional extension of time for processing the claim, the Retirement Committee will furnish written notice of the second extension to the claimant prior to the end of the initial 30-day extension period, and such extension will not exceed an additional, consecutive 30-day period).  In the event the claim is denied, the notice of the disposition of the claim will provide the specific reasons for the denial, citations of the pertinent provisions of the Plan, and, where appropriate, an explanation as to how the claimant can perfect the claim and/or submit the claim for review.
6.3    Appeal.
Any Participant or Beneficiary who has been denied a benefit will be entitled, upon request to the Retirement Committee, to appeal the denial of his claim.  The claimant (or his duly authorized representative) may review pertinent documents related to the Plan in the Retirement Committee’s possession in order to prepare the appeal.  The request for review, together with a written statement of the claimant’s position, must be filed with the Retirement Committee no later than 60 days (180 days in the case of a claim regarding Total Disability) after receipt of the written notification of denial of a claim provided for in Section 6.2.  The Retirement Committee’s decision will be made within 60 days (45 days in the case of a claim regarding Total Disability) following 

26

the filing of the request for review and will be communicated in writing to the claimant; provided, if special circumstances require an extension of time for processing the appeal, the Retirement Committee will furnish written notice to the claimant prior to the end of the initial 60-day period (45-day period in the case of a claim regarding Total Disability), and such an extension will not exceed one additional 60-day period (45-day period in the case of a claim regarding Total Disability).  With respect to a claim regarding Total Disability, the Retirement Committee’s review will not afford deference to the initial adverse benefit determination and will be conducted by an individual who is neither the individual who made the adverse benefit determination that is the subject of the appeal, nor the subordinate of such individual. If unfavorable, the notice of the decision will explain the reasons for denial and indicate the provisions of the Plan or other documents used to arrive at the decision.
6.4    Satisfaction of Claims.
Any payment to a Participant or Beneficiary will to the extent thereof be in full satisfaction of all claims hereunder against the Retirement Committee, the Compensation and Benefits Committee, and GPI, any of whom may require such Participant or Beneficiary, as a condition to such payment, to execute a receipt and release therefor in such form as determined by the Retirement Committee, Compensation and Benefits Committee, or GPI.  If receipt and release is required but the Participant or Beneficiary (as applicable) does not provide such receipt and release in a timely enough manner to permit a timely distribution in accordance with the general timing of distribution provisions in the Plan, such payment will be forfeited.

27

ARTICLE VII     
SOURCE OF FUNDS; TRUST
7.1    Source of Funds.
Except as provided in this Section and Section 7.2 (relating to the Trust), GPI will provide the benefits described in the Plan from its general assets.  However, to the extent that funds in such Trust allocable to the benefits payable under the Plan are sufficient, the Trust assets may be used to pay benefits under the Plan.  If such Trust assets are not sufficient to pay all benefits due under the Plan, then GPI will have the obligation, and the Participant or Beneficiary, who is due such benefits, will look to GPI to provide such benefits. 
7.2    Trust.
(a)    Establishment.  To the extent determined by GPI, GPI will transfer to the Trustee the funds necessary to fund benefits accrued hereunder to the Trustee to be held and administered by the Trustee pursuant to the terms of the Trust Agreement.  Except as otherwise provided in the Trust Agreement, each transfer into the Trust Fund will be irrevocable as long as GPI has any liability or obligations under the Plan to pay benefits, such that the Trust property is in no way subject to use by GPI; provided, it is the intent of GPI that the assets held by the Trust are and will remain at all times subject to the claims of the general creditors of GPI. 
(b)    Distributions.  Pursuant to the Trust Agreement, the Trustee will make payments to Plan Participants and Beneficiaries in accordance with a payment schedule provided by GPI.  GPI will make provisions for the reporting and withholding of any federal, state or local taxes that may be required to be withheld with respect to the payment of benefits pursuant to the terms of the Plan and will pay amounts withheld to the appropriate taxing authorities or determine that such amounts have been reported, withheld and paid by GPI.
(c)    Status of the Trust.  No Participant or Beneficiary will have any interest in the assets held by the Trust or in the general assets of GPI other than as a general, unsecured creditor.  Accordingly, GPI will not grant a security interest in the assets held by the Trust in favor of the Participants, Beneficiaries or any creditor.
7.3    Funding Prohibition under Certain Circumstances.
Notwithstanding anything in this Article VII to the contrary, no assets will be set aside to fund benefits under the Plan if such setting aside would be treated as a transfer of property under Code Section 83 pursuant to Code Section 409A(b).

28

ARTICLE VIII     
RETIREMENT COMMITTEE
8.1    Retirement Committee.
(a)    Adoption of Charter.  The Compensation and Benefits Committee may approve a Charter for the Retirement Committee which sets forth procedures regarding the governance and maintenance of the Retirement Committee and, to the extent not inconsistent with the Plan, the rights, duties, responsibilities of the Retirement Committee with respect to the Plan. 
(b)    Retirement Committee.  The Retirement Committee will have all rights, duties, and responsibilities as provided in the Charter and the Plan, and will be governed in accordance with the Charter.
8.2    Rights and Duties.
The Retirement Committee will administer the Plan and will have all powers necessary to enable it to properly to carry out its duties as set forth in the Charter and the Plan, including (but not limited to) the following:
(a)    To construe, interpret and administer the Plan;
(b)    To the extent not delegated to the Recordkeeper, to make determinations required by the Plan, including, but not limited to, determinations of whether an individual is in a class of employees designated (either by the terms of the Plan or by the Compensation and Benefits Committee) as eligible to participate in the Plan, and to maintain records regarding Participants’ and Beneficiaries’ benefits hereunder;
(c)    To the extent not delegated to the Recordkeeper, to compute and certify to GPI the amount and kinds of benefits payable to Participants and Beneficiaries, and to determine the time and manner in which such benefits are to be paid;
(d)    To authorize all disbursements by GPI pursuant to the Plan or the Trust Agreement;
(e)    To the extent not delegated to the Recordkeeper, to maintain all the necessary records of the administration of the Plan;
(f)    To make and publish such rules for the regulation of the Plan as are not inconsistent with the terms hereof;
(g)    To delegate to other individuals or entities, including, but not limited to, the Recordkeeper, from time to time the performance of any of its duties or responsibilities hereunder; and
(h)    To hire agents, accountants, actuaries, consultants and legal counsel to assist in operating and administering the Plan.

29

The Retirement Committee will have the exclusive right to construe and interpret the Plan, to decide all questions of eligibility for benefits and to determine the amount of such benefits, and its decisions on such matters will be final and conclusive on all parties.
8.3    Compensation, Indemnity and Liability.
The Retirement Committee and its members will serve as such without bond and without compensation for services hereunder.  All expenses of the Retirement Committee will be paid by GPI.  No member of the Retirement Committee will be liable for any act or omission of any other member of the Retirement Committee, or for any act or omission on his own part, excepting his own willful misconduct.  GPI will indemnify and hold harmless the Retirement Committee and each member thereof against any and all expenses and liabilities, including reasonable legal fees and expenses, arising out of his membership on the committee, excepting only expenses and liabilities arising out of his own willful misconduct.

30

ARTICLE IX     
AMENDMENT AND TERMINATION
9.1    Amendments.
The provisions of the Plan may be amended at any time and from time to time by the Compensation and Benefits Committee or its authorized delegate (including, to the extent provided in the Charter, the Retirement Committee).  An amendment to the Plan may modify its terms in any respect whatsoever; provided, no such action may reduce the amount already credited to a Participant’s Account without the affected Participant’s written consent.  All Participants and Beneficiaries will be bound by such amendment.
9.2    Plan Freeze or Termination.
(a)    Freezing Plan Benefits.  The Compensation and Benefits Committee will have the right, in its sole discretion, to impose a permanent or temporary freezing of the Plan at any time, such that the Plan will remain in effect with respect to existing Account balances without permitting any new contributions; provided, such a freeze may not cancel any Participant’s Deferral Election except as otherwise provided under Section 3.5.
(b)    Plan Termination.  The Compensation and Benefits Committee expects to continue the Plan but reserves the right to discontinue and terminate the Plan at any time, for any reason, subject to the restrictions provided under Code Section 409A.  Any action to terminate the Plan will be taken by the Compensation and Benefits Committee or its authorized delegate in the form of a written Plan amendment executed by a duly authorized officer of GPHC.  If the Plan is terminated, each Participant’s Account will be distributed in a single-sum payment in cash as soon as practicable after the date the Plan is terminated.  The amount of any such distribution will be determined as of the Valuation Date such termination distribution is to be processed.  Such termination will be binding on all Participants and Beneficiaries.  Notwithstanding the foregoing, the cancellations of Participants’ Deferral Elections and distributions of Accounts will be made upon termination of the Plan (including any partial termination relating to a specified group of Participants) only to the extent permitted under Code Section 409A.

31

ARTICLE X     
MISCELLANEOUS
10.1    Beneficiary Designation.
(a)    General.  Participants will designate and from time to time may re-designate their Beneficiaries in such form and manner as the Retirement Committee may determine.
(b)    No Designation or Designee Dead or Missing.  In the event that:
(1)    a Participant dies without designating a Beneficiary;
(2)    the Beneficiary designated by a Participant is not surviving when a payment is to be made to such person under the Plan, and no contingent Beneficiary has been designated; or
(3)    the Beneficiary designated by a Participant cannot be located by the Retirement Committee within a reasonable time before the latest date for payment to such Beneficiary pursuant to Article V;
then, in any of such events, the Beneficiary of such Participant with respect to any benefits that remain payable under the Plan will be the Participant’s Surviving Spouse, if any, and if not, the estate of the Participant.
(c)    Forfeiture of Benefits by Certain Individuals.  Notwithstanding anything to the contrary in the Plan, no payment of benefits will be made under any provision of the Plan to any individual with respect to whom such amount would otherwise be payable if, by virtue of such individual’s involvement in the death of the Participant or Beneficiary, such individual’s entitlement to any interest in assets of the deceased could be denied (whether or not there is in fact any such entitlement) under any applicable law, state or federal, including without limitation laws governing intestate succession, wills, jointly-owned property, bonds, and life insurance.  For purposes of the Plan, any such individual will be deemed to have predeceased the Participant or Beneficiary, as applicable.  To the extent consistent with Code Section 409A and the guidance issued thereunder, the Retirement Committee may withhold distribution of benefits otherwise payable under the Plan for such period of time as is necessary or appropriate under the circumstances to make a determination with regard to the application of this Section.
10.2    Distribution pursuant to a Domestic Relations Order.
(a)    Distribution Due to Domestic Relations Order.  Upon receipt of a valid domestic relations order requiring the distribution of all or a portion of a Participant’s Account to an alternate payee, the Retirement Committee will cause GPI to pay a distribution to such alternate payee.  The distribution will be completed as soon as administratively practicable after the Retirement Committee determines that the order meets the elements of a valid domestic relations order, as set forth in subsection (b) hereof, or if later, when the terms of the order have been modified 

32

to meet such elements.  No distribution will be completed unless and until the order constitutes a valid domestic relations order.
(b)    Requirements of a Domestic Relations Order.  For purposes of this Section, a court order will be considered a valid domestic relations order if it relates to the provision of child support, alimony payments or marital property rights to a spouse, former spouse, child or other dependent of a Participant, and is made pursuant to the domestic relations law of a state.  The order should clearly identify the name of the Participant and the alternate payee, the Plan, and the amount or percentage of the Participant’s Account to be paid to the alternate payee, or the manner in which such amount or percentage is to be determined.  The order may not require payment of a type or form of benefit other than as provided in subsection (a) hereof, payment of increased benefits or benefits to which the Participant does not have a vested right, or payment of benefits required to be paid to another alternate payee under another order previously determined to be a valid domestic relations order.
(c)    Domestic Relations Order Review Authority.  The Retirement Committee will have authority to review and determine whether a court order meets the conditions of this Section, and to issue and adopt procedures that may be helpful in administering this Section.
10.3    Headings.
The headings of the various articles and sections in the Plan are solely for convenience and will not be relied upon in construing any provisions hereof.  Any reference to a section refers to a section of the Plan unless specified otherwise.
10.4    Gender and Number.
Use of any gender in the Plan will be deemed to include all genders when appropriate, and use of the singular number will be deemed to include the plural when appropriate, and vice versa in each instance.
10.5    Assignment of Benefits.
Except as provided in Section 10.2, the right of a Participant or his Beneficiary to receive payments under the Plan may not be anticipated, alienated, sold, assigned, transferred, pledged, encumbered, attached or garnished by creditors of such Participant or Beneficiary, except by will or by the laws of descent and distribution and then only to the extent permitted under the terms of the Plan.
10.6    Legally Incompetent.
The Retirement Committee, in its sole discretion, may direct that payment to be made directly to an incompetent or disabled person, whether incompetent or disabled because of minority or mental or physical disability, or to the guardian of such person or to the person having legal custody of such person or to such other person as the Retirement Committee may otherwise 

33

determine, without further liability with respect to or in the amount of such payment either on the part of GPI or the Retirement Committee.
10.7    Governing Law.
The Plan will be construed, administered and governed in all respects in accordance with applicable federal law (including ERISA) and, to the extent not preempted by federal law, in accordance with the laws of the State of Delaware.  If any provisions of this instrument are held by a court of competent jurisdiction to be invalid or unenforceable, the remaining provisions hereof will continue to be fully effective.
10.8    Tax Effects.
The Plan is intended to comply with Code Section 409A and the regulations and other guidance issued thereunder such that no Participant shall be subject to early taxation or penalties thereunder.  The Plan will be interpreted consistent with this intent.  However, notwithstanding anything in the Plan or any summary or information regarding the Plan to the contrary, each Participant shall be solely responsible for all taxes due with respect to his benefits under the Plan, including, but not limited to, any federal, state or local income tax, any employment tax and any tax penalties, specifically including, but not limited to, tax penalties imposed under Code Section 409A.  GPI retains the full discretion to apply the tax laws as it deems appropriate from time to time and makes no representation or guaranty that benefits under the Plan will have any specific tax effect or receive any specific tax treatment.

34

EXHIBIT A 
SPECIAL PROVISIONS

A-1    Executive Contributions.  As soon as administratively practicable after the date of commencement of employment of Stephen Scherger (“Scherger”) with the Plan Sponsor, the Plan Sponsor caused to be credited to an Account for Scherger under the Plan a one­time Executive Contribution of One Million and no/100 Dollars ($1,000,000.00).  Such amount and any earnings and/or losses with respect to such amount shall be subject to all applicable terms and conditions of the Plan.

A-2    Special Vesting Schedules.  Notwithstanding anything in Section 3.14 to the contrary, and without regard to subsections (d) through (g) thereof, the Executive Contribution granted to Scherger described in B-1 is 100% vested.

A-3    Special Timing Designations.  Subject to the provisions of Article V, the Executive Contribution granted to Scherger will be paid upon the date that is 6 months after the date he Separates from Service.

A-4    Special Form Designations.  Subject to the provisions of Article V, the Executive Contribution granted to Scherger will be distributed in the form of 5 annual installment payments.

A-1EX-4.11

 Exhibit 4.11 

**** INDICATES CONFIDENTIAL MATERIAL OMITTED PURSUANT TO A 

REQUEST FOR CONFIDENTIAL TREATMENT AND FILED WITH THE 

SECURITIES AND EXCHANGE COMMISSION SEPARATELY WITH A REQUEST 

FOR CONFIDENTIAL TREATMENT. 

K&L GATES 
 Share Sale
Agreement 
 Kilinwata Investments Pty. Ltd. 

ACN 009 641 212 and 
 Mi Ok Chong

 and 
 Paul Hopper 

and 
 Novogen Limited 

ACN 063 259 754 
 K&L Gates 

Melbourne office 
 Ref:
baldij.petranp. 
  
 Confidential material omitted and filed separately
with the Commission. 

 Table of Contents 
  

							
	1.	  	 Definitions and interpretation
	  	 	5	 
	1.1	  	 Definitions
	  	 	5	 
	1.2	  	 Interpretation
	  	 	14	 
			
	2.	  	 Agreement to buy and sell Shares
	  	 	15	 
	2.1	  	 Sale and purchase
	  	 	15	 
	2.2	  	 Date for Completion
	  	 	15	 
	2.3	  	 Encumbrances and rights
	  	 	15	 
	2.4	  	 Title and risk
	  	 	16	 
	2.5	  	 Purchase of all the Shares
	  	 	16	 
	2.6	  	 Waiver of pre-emptive rights
	  	 	16	 
			
	3.	  	 Conditions precedent
	  	 	16	 
	3.1	  	 Conditions precedent to Completion
	  	 	16	 
	3.2	  	 Duties in relation to Conditions
	  	 	16	 
	3.3	  	 Fulfilment by waiver
	  	 	16	 
	3.4	  	 Failure of Condition
	  	 	17	 
			
	4.	  	 Conduct pending Completion
	  	 	17	 
	4.1	  	 Conduct of Business
	  	 	17	 
	4.2	  	 Assistance and access for Buyer
	  	 	17	 
	4.3	  	 Confidentiality
	  	 	18	 
	4.4	  	 Notice of material changes
	  	 	18	 
	4.5	  	 No discussions
	  	 	18	 
			
	5.	  	 Completion
	  	 	18	 
	5.1	  	 Time and place for Completion
	  	 	18	 
	5.2	  	 Sellers’ obligations at Completion
	  	 	18	 
	5.3	  	 Buyer’s obligations at Completion
	  	 	20	 
	5.4	  	 Conditions of Completion
	  	 	20	 
	5.5	  	 Delayed delivery of Completion items
	  	 	20	 
			
	6.	  	 Completion Consideration
	  	 	21	 
	6.1	  	 Completion Cash Amount
	  	 	21	 
	6.2	  	 Completion Shares
	  	 	21	 
			
	7.	  	 Milestone Consideration
	  	 	22	 
	7.1	  	 Milestones
	  	 	22	 
	7.2	  	 Milestone 1
	  	 	22	 
	7.3	  	 Mechanics of issue of Milestone 1 Shares
	  	 	22	 
	7.4	  	 Milestone 2
	  	 	23	 
	7.5	  	 Mechanics of issue of Milestone 2 Shares
	  	 	23	 
	7.6	  	 Milestone 3
	  	 	24	 
	7.7	  	 Mechanics of Milestone 3 Consideration - Shares
	  	 	24	 
	7.8	  	 If approvals not obtained
	  	 	26	 
	7.9	  	 Mechanics of Milestone 3 Consideration - Cash
	  	 	27	 
	7.10	  	 Maximum Payable
	  	 	27	 
	7.11	  	 Milestone 4
	  	 	27	 
	7.12	  	 Mechanics of Milestone 4 Consideration
	  	 	27	 

  
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 2 

							
	8.	  	 Obligations until registration of transfer
	  	 	29	 
	8.1	  	 Buyer's obligation to register
	  	 	29	 
	8.2	  	 Sellers' obligations
	  	 	29	 
			
	9.	  	 Rights and obligations after Completion
	  	 	29	 
	9.1	  	 Novogen Appointment
	  	 	29	 
	9.2	  	 Sellers assistance following Completion
	  	 	29	 
	9.3	  	 Access to Records
	  	 	29	 
			
	10.	  	 Tax matters
	  	 	30	 
	10.1	  	 Completion of Tax returns and calculations
	  	 	30	 
	10.2	  	 Tax enquiries or audits by Government Agency
	  	 	30	 
			
	11.	  	 Sellers’ Warranties
	  	 	31	 
	11.1	  	 Warranties
	  	 	31	 
	11.2	  	 Disclosure Material
	  	 	31	 
	11.3	  	 Separate warranties
	  	 	31	 
	11.4	  	 Sellers must notify breaches
	  	 	32	 
	11.5	  	 Qualification as to knowledge
	  	 	32	 
			
	12.	  	 Indemnities
	  	 	32	 
	12.1	  	 Indemnity for Warranty Claims
	  	 	32	 
	12.2	  	 Tax Indemnity
	  	 	32	 
			
	13.	  	 Claiming under the Sellers’ Warranties and the Indemnities
	  	 	32	 
	13.1	  	 Notice of Claims
	  	 	32	 
	13.2	  	 Seller Warrantors to consider Claims
	  	 	33	 
	13.3	  	 Time limits for Claims
	  	 	33	 
	13.4	  	 Maximum amount the Buyer may recover
	  	 	33	 
	13.5	  	 Benefits received by the Buyer
	  	 	33	 
	13.6	  	 Escrow arrangement where Claim made
	  	 	33	 
	13.7	  	 Reduction in Purchase Price
	  	 	34	 
			
	14.	  	 Buyer’s Warranties
	  	 	34	 
	14.1	  	 Warranties
	  	 	34	 
	14.2	  	 Warranties true on Completion
	  	 	35	 
			
	15.	  	 Termination by Buyer before Completion
	  	 	35	 
	15.1	  	 Termination events
	  	 	35	 
	15.2	  	 Right of Buyer to terminate
	  	 	35	 
	15.3	  	 Remedies cumulative
	  	 	36	 
			
	16.	  	 Public announcements
	  	 	36	 
	16.1	  	 Making announcements
	  	 	36	 
	16.2	  	 Requirements
	  	 	36	 
			
	17.	  	 Confidentiality
	  	 	36	 
	17.1	  	 Obligation of confidentiality
	  	 	36	 
	17.2	  	 Exceptions
	  	 	36	 
	17.3	  	 Disclosure to Recipient
	  	 	37	 
	17.4	  	 Obligations
	  	 	37	 
	17.5	  	 Return or destruction of Confidential Information
	  	 	37	 
	17.6	  	 Post Completion
	  	 	38	 

  
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	18.	  	GST	  	 	38	 
	18.1	  	Definitions	  	 	38	 
	18.2	  	Consideration is GST exclusive	  	 	38	 
	18.3	  	Payment of GST	  	 	38	 
	18.4	  	 Reimbursement of expenses
	  	 	38	 
			
	19.	  	 General
	  	 	39	 
	19.1	  	 Nature of obligations
	  	 	39	 
	19.2	  	 Entire understanding
	  	 	39	 
	19.3	  	 Survival of obligations
	  	 	39	 
	19.4	  	 No adverse construction
	  	 	39	 
	19.5	  	 Further assurances
	  	 	39	 
	19.6	  	 No waiver
	  	 	39	 
	19.7	  	 Severability
	  	 	40	 
	19.8	  	 Successors and assigns
	  	 	40	 
	19.9	  	 No assignment
	  	 	40	 
	19.10	  	 Consents and approvals
	  	 	40	 
	19.11	  	 No variation
	  	 	40	 
	19.12	  	 Costs
	  	 	40	 
	19.13	  	 Duty
	  	 	40	 
	19.14	  	 Governing law and jurisdiction
	  	 	40	 
	19.15	  	 Notices
	  	 	40	 
	19.16	  	 Counterparts
	  	 	41	 
	19.17	  	 Conflicting provisions
	  	 	42	 
	19.18	  	 No merger
	  	 	42	 
	19.19	  	 Operation of indemnities
	  	 	42	 
	19.20	  	 No right of set-off
	  	 	42	 
	19.21	  	 Relationship of parties
	  	 	42	 
		
	 Schedule 1 - Share Details
	  	 	43	 
		
	 Schedule 2 - Corporate Details
	  	 	44	 
		
	 Schedule 3 - Conditions to Completion
	  	 	45	 
		
	 Schedule 4 - The Sellers’ Warranties
	  	 	46	 
		
	 Schedule 5 - The Disclosure Material
	  	 	XX	 
		
	 Annexure 1 - The Accounts
	  	 	XX	 
		
	 Annexure 2 - Escrow Agreement
	  	 	XX	 
		
	 Annexure 3 - Licence Agreement
	  	 	XX	 
		
	 Annexure 4 - Hopper Appointment Agreement
	  	 	XX	 
		
	 Annexure 5 - Chong Appointment Agreement
	  	 	XX	 

  
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 4 

 Share Sale Agreement 

Date 2016 
 Parties 

 

	1.	Kilinwata Investments Pty. Ltd. ACN 009 641 212 of Unit 101 50 McLachlan Avenue Rushcutters Bay NSW 2011 

  

	2.	Mi Ok Chong XXXX 

  

	 	(each a Seller and collectively known as the Sellers) 

  

	3.	Paul Hopper of XXXX 

  

	    	(Warrantor) 

  

	4.	Novogen Limited ACN 063 259 754 of Suite 502, 20 George Street Hornsby NSW 2077 (Buyer) 

Background 
  

	A.	The Shares are owned by the Sellers as set out in Schedule 1. 

  

	B.	The Sellers have agreed to sell to the Buyer and the Buyer has agreed to buy the Shares from the Sellers on the terms and conditions of this Agreement. 

 

	C.	In further consideration of the purchase of the Shares, the Sellers have agreed to facilitate the Buyer’s entry into the Licence Agreement and the entry of Paul Hopper and Mi Ok Chong into consultancy agreements
with the Buyer. 

 Agreed terms 
  

	1.	Definitions and interpretation 

  

	1.1	Definitions 

 In this Agreement: 

Accounting Standards means: 
  

	 	(a)	the accounting standards made by the Australian Accounting Standards Board in accordance with the Corporations Act, and the requirements of that Act relating to the preparation and content of financial statements; and

  

	 	(b)	generally accepted accounting principles that are consistently applied in Australia, except those inconsistent with the standards or requirements referred to in paragraph (a); 

Accounts means: 
  

	 	(a)	the balance sheet of the Company as at the Accounts Date; 

  

	 	(b)	the income statement of the Company for the 12 month period ending on the Accounts Date; 

  
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	 	(c)	the statement of cash flow of the Company for the 12 month period ending on the Accounts Date; and 

  

	 	(d)	the notes to, and the reports of the directors relating to, those statements, as set out in Annexure 1; 

Accounts Date means 31 August 2016; 

Agreement means this deed including the background, any schedules and any annexures; 

Agreement Date means the date of this Agreement; 

ASIC means the Australian Securities and Investment Commission; 

Associate has the same meaning as “associate” in the Corporations Act and includes a person deemed to be an associate of a
designated body (within the meaning of section 12 of the Corporations Act); 
 ASX means ASX Limited ACN 008 624 691; 

ASX Listing Rules means the rules governing the procedures and behaviour of all entities listed on ASX; 

Business means the business carried on by the Company; 

Business Day means a day that is not a Saturday, Sunday, public holiday or bank holiday in Sydney New South Wales; 

Capital Raising means any capital raising of new Securities in the Buyer during the Milestone 3 Period, provided always that the new
Securities are issued, and funds for such Securities are actually received by the Buyer, during the Milestone 3 Period. The following will not be considered a Capital Raising, nor considered for any contribution to a Capital Raising: 

 

	 	(a)	funds relating to Securities issued before 1 September 2016, even where the funds are actually received during the Milestone 3 Period; 

 

	 	(b)	funds relating to Securities issued during the Milestone 3 Period where funds are actually received after the Milestone 3 Period; 

  

	 	(c)	funds relating to Securities issued pursuant to an option or convertible note issued before 1 September 2016; 

  

	 	(d)	funds relating to Securities issued under this Agreement; and 

  

	 	(e)	funds relating to Securities issued by the Buyer in consideration of any salary, services, or the acquisition of assets or shares; 

Capital Raising Announcement means the announcement of a Capital Raising to the ASX. For the avoidance of doubt, a Capital Raising
Announcement does not include any announcement in relation to the issue of Securities where the funds for such Securities have not been actually received by the Buyer; 

  
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 Capital Raising Cash Payment means, with respect to each Capital Raising, an amount equal
to 12.35% of the Capital Raising Value with respect to that Capital Raising; 
 Capital Raising Notice means a notice issued in in
accordance with clause 7.6(b); 
 Capital Raising Shares means, with respect to each Capital Raising, the number of Novogen Shares
which is: 
 XXXX 
 and, if a
fractional entitlement, rounded up to the nearest whole number; 
 Capital Raising Value means, with respect to each Capital Raising,
the aggregate value of funds actually received for all new Securities in the Buyer received in that Capital Raising. The following will not be considered in determining the value of any Capital Raising: 

 

	 	(a)	funds relating to Securities issued before 1 September 2016, even where the funds are actually received during the Milestone 3 Period; 

 

	 	(b)	funds relating to Securities issued during the Milestone 3 Period where funds are actually received after the Milestone 3 Period; 

  

	 	(c)	funds relating to Securities issued pursuant to an option or convertible note issued before 1 September 2016; 

  

	 	(d)	funds relating to Securities issued under this Agreement; and 

  

	 	(e)	funds relating to Securities issued by the Buyer in consideration of any salary, services, or the acquisition of assets or shares; 

Chong Appointment Agreement means the agreement to appoint Mi Ok Chong as a consultant of the Buyer including with respect to
development of the Molecule, substantially in the form set out in Annexure 5; 
 Claim includes a claim, notice, demand, action,
proceeding, litigation, prosecution, arbitration, investigation, judgment, award, damage, loss, cost, expense or liability however arising, whether present, unascertained, immediate, future or contingent, whether based in contract, tort or statute
and whether involving a Third Party or a party to this Agreement or otherwise; 
 Company means Glioblast Pty Ltd ACN 612 141 625
of Unit 101, 50 McLachlan Avenue Rushcutters Bay NSW 2011, details of which are set out in Schedule 2; 
 Completion means the
completion of the sale and purchase of the Shares; 
 Completion Cash Amount means $600,000; 

Completion Date means the date on which Completion occurs; 

Completion Consideration means: 
  

	 	(a)	the Completion Cash Amount; plus 

  

	 	(b)	the Completion Shares; 

  
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 Completion Deemed Issue Price means the volume weighted average price of Novogen Shares as
traded on the ASX in the 7 trading days before the date the Agreement is announced to the ASX; 
 Completion Shares means that number
of Novogen Shares calculated as follows: 
 $1,500,000 ÷ Completion Deemed Issue Price, and, if a fractional entitlement, rounded up
to the nearest whole number; 
 Conditions means the conditions referred to in clause 3 and specified in Schedule 3;  

Confidential Information means: 
  

	 	(a)	the terms of this Agreement and its subject matter, including Information submitted or disclosed by a party during negotiations, discussions and meetings relating to this Agreement; 

 

	 	(b)	Information that at the time of disclosure by a Disclosing Party is identified to the Receiving Party as being confidential; and 

  

	 	(c)	all other Information belonging or relating to a Disclosing Party, or any Related Entity of that Disclosing Party, that is not generally available to the public at the time of disclosure other than by reason of a breach
of this Agreement or which the Receiving Party knows, or ought reasonably to be expected to know, is confidential to that Disclosing Party or any Related Entity of that Disclosing Party; 

Control means, in relation to a body corporate, where a person is able to do any of the following things (whether alone or together with
any Associates and whether directly or indirectly or through one or more intervening persons, companies or trusts): 
  

	 	(a)	determine the composition of more than one half of the body’s board of directors; 

  

	 	(b)	determine the outcome of decisions of the body’s board of directors (either because the board is accustomed to act in accordance with that person’s directions or otherwise); 

 

	 	(c)	be in a position to cast, or control the casting of, more than one half of the maximum number of votes that might be cast at a general meeting of the members of the body or its ultimate holding company; or

  

	 	(d)	hold or have a beneficial interest in more than one half of the issued share capital of the body or its ultimate holding company; 

Corporations Act means the Corporations Act 2001 (Cth); 

Disclosing Party means the party to whom Information belongs or relates; 

Disclosure Material means the information made available to the Buyer and/or its representatives and advisors by or on behalf of the
Sellers for the purposes of due diligence into the Company being that information attached to this Agreement in part B of Schedule 5, the index of which is set out in part A of Schedule 5; 

Encumbrance means 
  

	 	(a)	any: 

  
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 8 

	 	(b)	

	 	(i)	legal or equitable interest or power created, arising in or reserved in or over an interest in any property or asset; or 

  

	 	(ii)	security for payment of money, performance of obligations or protection against default (including a mortgage, bill of sale, charge, lien, pledge, trust, power or retention of title arrangement, right of set-off, assignment of income, garnishee order, monetary claim and flawed deposit arrangement); 

  

	 	(c)	any thing or preferential interest or arrangement of any kind giving a person priority or preference over claims or other persons with respect to any property or asset; 

 

	 	(d)	a PPSA Security Interest; or 

  

	 	(e)	any agreement or arrangement (whether legally binding or not) to grant or create anything referred to in paragraphs (a), (b) or (c); 

Environmental Law means a Law (including any determination of any Government Agency) relating to the environment, including in relation to land
use, planning, pollution of air or water, soil or ground water, contamination, chemicals, waste, use of dangerous goods or to any other aspect of protection of the environment, person or property; 

Escrow Agreement means an agreement substantially in the form of the pro-forma restriction agreement
annexed at Annexure 2, which pro-forma is largely based on the pro-forma restriction agreement specified in Appendix 9A of the ASX Listing Rules; 

Financial Market has the meaning given to that term in the Corporations Act; 

Government Agency means any government or any public, statutory, governmental (including a local government), semi-governmental or judicial
body, entity, department or authority and includes any self-regulatory organisation established under statute; 
 GST has the meaning given
to that term in A New Tax System (Goods and Services Tax) Act 1999; 
 Hopper Appointment Agreement means the agreement to appoint
Paul Hopper as a consultant of the Buyer, substantially in the form set out in Annexure 4; 
 Indemnity Claim means a Claim under any of the
indemnities in clause 12; 
 Information means any information, whether oral, graphic, written or in any other form, including: 

 

	 	(a)	forms, memoranda, letters, specifications, processes, procedures, statements, formulae, technology, inventions, trade secrets, research and development information, know how, designs, plans, photographs, microfiche,
business records, notes, accounting procedures or financial information, sales and marketing information, names and details of customers, suppliers and agents, employee details, reports, drawings and data; 

 

	 	(b)	copies and extracts made of or from that information and data, whether translated from the original form, recompiled, partially copied, modified, updated or otherwise altered; and 

  
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 9 

	 	(c)	samples or specimens (if any) disclosed either before or after execution of this Agreement; 

Intellectual Property Rights means all present and future intellectual and industrial property rights conferred by statute, at common law or in
equity and wherever existing, including: 
  

	 	(a)	patents, designs, copyright, rights in circuit layouts, plant breeder’s rights, trade marks, know how, brand names, domain names, inventions, product names, trade secrets and any other rights subsisting in the
results of intellectual effort in any field, whether or not registered or capable of registration; 

  

	 	(b)	any application or right to apply for registration of any of these rights; 

  

	 	(c)	any registration of any of those rights or any registration of any application referred to in paragraph (b); and 

  

	 	(d)	all renewals and extensions of these rights; 

 Law means: 

 

	 	(a)	principles of law or equity established by decisions of courts; 

  

	 	(b)	statutes, regulations or by-laws of the Commonwealth, a State, a Territory or a Government Agency; and 

 

	 	(c)	requirements and approvals (including conditions) of the Commonwealth, a State, a Territory or a Government Agency that have the force of law; 

Liability includes all liabilities, losses, damages, costs, interest, fees, penalties, fines, assessments, forfeiture and expenses of whatever
description (whether actual, contingent or prospective); 
 Licence Agreement means the agreement for the Buyer to licence the Molecule from
Genentech, Inc substantially in the form annexed to this Agreement as Annexure 3; 
 Milestones means each of Milestone 1, Milestone 2,
Milestone 3 and Milestone 4; 
 Milestone 1 means the first patient being ‘dosed’ under a Phase II clinical trial of the Molecule,
conducted in accordance with international standards of good clinical practice; 
 Milestone 1 Shares means that number of Novogen Shares
calculated as follows: 
  

	 	 	XXXX 

 and, if a fractional entitlement, rounded up to the nearest whole number; 

Milestone 2 means the completion of a Phase II clinical trial of the Molecule conducted in accordance with the international standards of good
clinical practice, where such trial demonstrates a statistically significant improvement in progression-free survival or other approval endpoint indicated by the US Food and Drug Administration; 

Milestone 2 Shares means that number of Novogen Shares calculated as follows: 

 

	 	 	XXXX 

 and, if a fractional entitlement, rounded up to the nearest whole number; 

  
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 Milestone 3 means the date on which the Buyer has received funds to the value of a minimum of
XXXX in aggregate in new Securities in the Buyer provided always that the new Securities are issued during the Milestone 3 Period and funds for such Securities are actually received by the Buyer during the Milestone 3 Period. The following will not
be considered in determining if an aggregate of XXXX has been received by the Buyer: 
  

	 	(a)	funds relating to Securities issued before 1 September 2016, even where the funds are actually received during the Milestone 3 Period; 

 

	 	(b)	funds relating to Securities issued during the Milestone 3 Period where funds are actually received after the Milestone 3 Period; 

  

	 	(c)	funds relating to Securities issued pursuant to an option or convertible note issued before 1 September 2016; 

  

	 	(d)	funds relating to Securities issued under this Agreement; and 

  

	 	(e)	funds relating to Securities issued by the Buyer in consideration of any salary, services, or the acquisition of assets or shares. 

Milestone 3 may be determined by receipt of funds in a number of tranches over the designated period with the milestone actually achieved
(if at all) at the point an aggregate of XXXX in new Securities have been raised; 
 Milestone 3 Cash Payment means the aggregate of any
Milestone 3 Trigger Cash Payment and Milestone 3 Capital Raising Cash Payment; 
 Milestone 3 Capital Raising Shares means all Capital
Raising Shares issued to the Sellers in accordance with a Capital Raising Notice; 
 Milestone 3 Capital Raising Cash Payment means all
Capital Raising Cash Payments issued to the Sellers with a Capital Raising Notice; 
 Milestone 3 Consideration means either: 

 

	 	(a)	the Milestone 3 Shares; or 

  

	 	(b)	the Milestone 3 Cash Payment, 

 as determined at the sole discretion of the Buyer in accordance
with clause 7.6(c); 
 Milestone 3 Deemed Issue Price with respect to a Capital Raising, means the volume weighted average price of the
Novogen Shares as traded on the ASX in the 7 trading days before the Capital Raising Announcement; 
 Milestone 3 Period means the period
commencing on 1 September 2016 and ending on the date which is 24 months immediately following the Agreement Date; 
 Milestone 3 Shares
means the aggregate of any Milestone 3 Trigger Shares and Milestone 3 Capital Raising Shares issued in accordance with this Agreement; 

Milestone 3 Trigger Cash Payment means an amount equal to the aggregate of the Capital Raising Cash Payment for each Capital Raising during the
Milestone 3 Trigger Period; 
 Milestone 3 Trigger Date means the date on which the Milestone 3 Trigger Notice is issued; 

Milestone 3 Trigger Notice means a notice issued in accordance with clause 7.6(a); 

  
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 Milestone 3 Trigger Period the period from 1 September 2016 until and including Milestone
Trigger Date; 
 Milestone 3 Trigger Shares means the aggregate of all Capital Raising Shares for each Capital Raising during the Milestone 3
Trigger Period; 
 Milestone 4 means the Buyer voluntarily out-licensing of the Molecule to a Third
Party, other than to any Related Body Corporate of the Buyer, on commercial terms. For the avoidance of doubt, Milestone 4 does not include any licence or divestment of Intellectual Property Rights in or arising out of the Molecule to a Third Party
which occurs as the result of the operation of Law or breach of contract; 
 XXXX 

Milestone 4 Consideration means either: 
  

	 	(a)	the Milestone 4 Shares; or 

  

	 	(b)	the Milestone 4 Cash Payment, 

 as determined at the sole discretion of the Buyer; 

Milestone 4 Shares the number of Novogen Shares which is calculated as follows: 

 

	 	 	XXXX 

 and, if a fractional entitlement, rounded up to the nearest whole number; 

Milestone Consideration means the consideration (if any) payable in accordance with clauses 7.2, 7.4, 7.6 and 7.11; 

Milestone Deemed Issue Price with respect to a Milestone other than Milestone 3, means the volume weighted average price of the Novogen Shares
as traded on the ASX in the 7 trading days before the achievement of the relevant Milestone has been announced to the ASX; 
 Molecule means
the small molecule brain penetrant known as GDC-0084 for glioblastoma multiforme; 
 Novogen Shares
means ordinary fully paid shares in the Buyer; 
 PPSA Security Interest means a security interest as defined in the Personal Property
Securities Act 2009 (Cth); 
 Purchase Consideration means the sum of Completion Consideration and any Milestone Consideration which the
Sellers become entitled to receive in accordance with the terms of this Agreement; 
 Receiving Party means the party to whom Information is
disclosed or who possesses or otherwise acquires Information belonging or relating to a Disclosing Party; 
 Recipient means any Related
Entity, employee, agent, contractor, officer, professional adviser, banker, auditor or other consultant of the Receiving Party; 
 Records
means the originals and copies, in machine readable, electronic, printed or any other readable form, of all files, reports, records, accounts, registers, correspondence, documents and other material relating to or used by the Company or the
Business, including: 
  

	 	(a)	sales literature, market research reports, brochures and other promotional material (including printing blocks, negatives, soundtracks and associated materials); 

  
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 12 

	 	(b)	sales and purchasing records; 

  

	 	(c)	lists of all clients, suppliers and customers; 

  

	 	(d)	financial records and accounts including ledgers, journals and books of account; 

  

	 	(e)	trading records; 

  

	 	(f)	records of wages, employment benefits and other payroll and personnel information; 

  

	 	(g)	records of and relating to the contracts entered into by the Company; 

  

	 	(h)	stationery; and 

  

	 	(i)	all other data, however recorded, owned or used by the Company or the Sellers which relates to the Company or the Business; 

Related Body Corporate has the meaning given to that term in the Corporations Act; 

Related Entity has the meaning given to that term in the Corporations Act; 

Securities has the meaning given to that term in section 92(2) of the Corporations Act; 

Seller Nominee means a person to whom Novogen Shares are to be issued in accordance with the Sellers’ notice under clauses 6.2, 7.3(a),
7.5(a), 7.7(a), 7.7(d) or 7.12(a) (as applicable); 
 Sellers’ Guarantees means any obligation or commitment of any Seller or any of
their Related Entities (other than the Company) in favour of another person to provide money, indemnify or otherwise be responsible for the obligations (whether they relate to financial accommodation or otherwise) of the Company; 

Sellers’ Warranties means the warranties contained in Schedule 4; 

Seller Warrantors means the Sellers and the Warrantor; 

Shares means all the shares (of any class) in the capital of the Company held by the Sellers immediately before Completion, as specified in
Schedule 1; 
 Stamp Duty means any stamp, transaction or registration duty or similar charge imposed by any Government Agency and includes
any interest, fine, penalty, charge or other amount in respect of the above but excludes any goods and services tax; 
 Tax, Taxes or
Taxation means all forms of present and future taxes, excise, stamp or other duties, imposts, deductions, charges, withholdings, rates, levies or other governmental impositions imposed, assessed or charged by any Government Agency, together with all
interest, penalties, fines, expenses and other additional statutory charges relating to any of them, imposed or withheld by a Government Agency; 

Tax Act means the Income Tax Assessment Act 1936 (Cth), the Income Tax Assessment Act 1997 (Cth) or the Taxation Administration Act
1953 (Cth) as the case may be; 
 Tax Claim means any assessment, notice or demand or any other document issued or action taken by or on
behalf of any Government Agency in respect of Tax; 
 Tax Claim Amount means: 

 

	 	(a)	the amount the Company is required to pay in respect of Tax to a Government Agency as a result of a Tax Claim; 

  
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	 	(b)	the amount the Buyer or the Company is required to pay a Government Agency as a result of a Tax Claim relating to the recovery by the Government Agency of all or part of a Tax incentive, concession or other form of
relief allowed to or applied by the Company before Completion; 

  

	 	(c)	the amount of any credit, rebate or refund of Tax or franking credits lost to or paid by the Buyer or the Company as a result of a Tax Claim; or 

 

	 	(d)	the amount of the loss of any relief, allowance, deduction or loss carried forward, as a result of a Tax Claim, multiplied by the rate of Tax applicable to companies in the year to which the Tax Claim relates,

 plus any associated fines, additional tax, interest or penalties; 

Tax Indemnity means the indemnity given by the Sellers in clause 12.2; 

Tax Indemnity Claim means a Claim under the Tax Indemnity; 

Tax Law means any Law relating to Tax; 

Third Party means a person who is not a party to this Agreement; 

Third Party Claim means a Claim made or threatened by a Third Party against the Buyer or the Company, but excluding any Claim in respect of
which clause 10.2 applies; and 
 Warranty Claim means any Claim by the Buyer (or any person making a Claim through or on behalf of the
Buyer) against the Sellers or any of them for breach of any of the Sellers’ Warranties. 
  

	1.2	Interpretation 

 In this Agreement, unless the context requires otherwise: 

 

	 	(a)	the singular includes the plural and vice versa; 

  

	 	(b)	a gender includes the other genders; 

  

	 	(c)	the headings are used for convenience only and do not affect the interpretation of this Agreement; 

  

	 	(d)	other grammatical forms of defined words or expressions have corresponding meanings; 

  

	 	(e)	a reference to a document includes the document as modified from time to time and any document replacing it; 

  

	 	(f)	a reference to a party is to a party to this Agreement and a reference to a party to a document includes the party’s executors, administrators, successors and permitted assigns and substitutes; 

 

	 	(g)	a reference to a clause, item, schedule or annexure is a reference to a clause, item, schedule or annexure of this Agreement; 

  

	 	(h)	if something is to be or may be done on a day that is not a Business Day then it must be done on the next Business Day; 

  

	 	(i)	the word “person” includes a natural person, partnership, body corporate, association, government or local authority, agency and any body or entity whether incorporated or not; 

  
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	 	(j)	the word “month” means calendar month and the word “year” means 12 months; 

  

	 	(k)	the words “in writing” include any communication sent by letter, facsimile transmission or email or any other form of communication capable of being read by the recipient; 

 

	 	(l)	a reference to a thing includes a part of that thing; 

  

	 	(m)	a reference to all or any part of a statute, rule, regulation or ordinance (statute) includes that statute as amended, consolidated, re-enacted or replaced from time to time;

  

	 	(n)	wherever “include”, “for example” or any form of those words or similar expression is used, it must be construed as if it were followed by “(without being limited to)”; 

 

	 	(o)	money amounts are stated in Australian currency; 

  

	 	(p)	a reference to time is to Sydney New South Wales, Australia time; 

  

	 	(q)	a reference to any agency or body, if that agency or body ceases to exist or is reconstituted, renamed or replaced or has its powers or functions removed (defunct body), means the agency or body that performs most
closely the functions of the defunct body; 

  

	 	(r)	any agreements, representation, warranty or indemnity in favour of two or more parties (whether those parties are included in the same defined term or not) is for the benefit of them jointly and separately; and

  

	 	(s)	any agreements, representation, warranty or indemnity by two or more parties (whether those parties are included in the same defined term or not) binds them jointly and separately. 

 

	2.	Agreement to buy and sell Shares 

  

	2.1	Sale and purchase 

 On and subject to the terms of this Agreement and in consideration of
the Purchase Consideration: 
  

	 	(a)	each Seller as legal and beneficial owner agrees to sell to the Buyer those Shares listed against that Seller’s name in Schedule 1; and 

 

	 	(b)	the Buyer agrees to purchase the Shares from the Sellers. 

  

	2.2	Date for Completion 

 Completion must occur on the date that is the later of: 

 

	 	(a)	5 Business Days after the first date by which all Conditions have been fulfilled (or waived under clause 3.3); and 

  

	 	(b)	the date on which any period or periods for which the Buyer delays Completion under clause 15.2(e) expires. 

  

	2.3	Encumbrances and rights 

 The Sellers must transfer the Shares to the Buyer at
Completion: 
  

	 	(a)	free from any Encumbrance; and 

  

	 	(b)	together with all benefits and rights, including dividend and voting rights, attached or accrued to them on or after Completion. 

  
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	2.4	Title and risk 

 The title to and the risk of the Shares: 

 

	 	(a)	until Completion, remains solely with the Sellers; and 

  

	 	(b)	on and from Completion, passes from the Sellers to the Buyer. 

  

	2.5	Purchase of all the Shares 

 The Sellers need not complete the sale, and the Buyer need
not complete the purchase, of any of the Shares unless the sale and purchase of all the Shares is completed simultaneously. 
  

	2.6	Waiver of pre-emptive rights 

 Each Seller, by
its execution of this Agreement, consents to the sale and purchase contemplated by clause 2.1 and irrevocably waives in favour of the Buyer any rights of pre-emption that that Seller has, or may have, in
respect of the Shares, whether conferred by the constitution of the Company or otherwise. 
  

	3.	Conditions precedent 

  

	3.1	Conditions precedent to Completion 

 Completion is conditional on each of the Conditions
set out in Schedule 3 being fulfilled, or waived under clause 3.3, on or before 31 December 2016 or any other date agreed by the Sellers and the Buyer in writing. 
  

	3.2	Duties in relation to Conditions 

  

	 	(a)	Each party must use its reasonable endeavours to ensure that the Conditions referred to in clause 3.1 are fulfilled on or before the date specified in that clause. 

 

	 	(b)	Each party must: 

  

	 	(i)	supply each other party with copies of all applications made and documents supplied for the purpose of fulfilling any Condition; 

  

	 	(ii)	not take any action that would, or would be likely to, prevent or hinder the fulfilment of any Condition; and 

  

	 	(iii)	within 2 Business Days of a party becoming aware that a Condition has been fulfilled, notify the other parties in writing of that fact. 

 

	 	(c)	Nothing in this clause 3 requires a party to waive a Condition under clause 3.3 or accept unreasonable conditions or requirements imposed by Third Parties to satisfy any Condition. 

 

	3.3	Fulfilment by waiver 

 A Condition may be waived only: 

 

	 	(a)	where the Condition is expressed to be for the benefit of a particular party, if that party gives notice of waiver of the Condition to the other parties; or 

 

	 	(b)	otherwise, if the Sellers and the Buyer agree in writing to waive the Condition, but only to the extent set out in the waiver. 

  
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	3.4	Failure of Condition 

 Either the Buyer or the Sellers may, if not otherwise in breach of
this Agreement, terminate this Agreement by giving notice to all other parties at any time before Completion if: 
  

	 	(a)	a Condition is not fulfilled (or waived under clause 3.3) before 5.00 pm on 31 December 2016; or 

  

	 	(b)	a Condition having been fulfilled, that Condition does not remain fulfilled in all respects at all times until Completion. 

  

	4.	Conduct pending Completion 

  

	4.1	Conduct of Business 

 Except as otherwise provided in this Agreement, the Sellers must
ensure that from the date of this Agreement until Completion, the Company does not, unless required or contemplated by this Agreement, or unless the Buyer first consents in writing: 

 

	 	(a)	enter into any contract or commitment or terminate or alter any term of any such contract or commitment; 

  

	 	(b)	incur any Liabilities; 

  

	 	(c)	dispose of, agree to dispose of, Encumber or grant an option over any of the Company’s assets or any interest in those assets; 

  

	 	(d)	engage any new employee, terminate the employment of any employee or alter the terms of employment (including the terms of superannuation or any other benefit) of any employee, or offer to do any of those things;

  

	 	(e)	provide or grant any guarantee (including any Sellers’ Guarantee), PPSA Security Interest or any other security to any Third Party; 

 

	 	(f)	borrow money, increase the amount of existing borrowings or draw on any credit lines other than under existing credit facilities; 

  

	 	(g)	issue, agree to issue or grant any option to issue any equity or loan securities or any security convertible into any such securities; 

 

	 	(h)	issue any shares, or options to take up unissued shares, in the capital of the Company; 

  

	 	(i)	declare or pay any dividend, effect a buy back of its shares or make any other distribution of its assets or profits; 

  

	 	(j)	alter or agree to alter its constitution; or 

  

	 	(k)	pass any special resolution. 

  

	4.2	Assistance and access for Buyer 

 Until Completion, the Sellers must: 

 

	 	(a)	supply to the Buyer, and any person who has the Buyer’s written authority, any information or document in their possession or control reasonably requested concerning the Company or the Business; 

  
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	 	(b)	assist the Buyer, at the Buyer’s request, to gain knowledge concerning and become familiar with the Company, its affairs and the Business; and 

 

	 	(c)	allow the Buyer to investigate the accuracy of the Sellers’ Warranties. 

  

	4.3	Confidentiality 

 Clause 17 applies to any Confidential Information obtained by the Buyer
or any person authorised by it under clause 4.2. 
  

	4.4	Notice of material changes 

 Where before Completion an event occurs that has, or may
have, a material effect on the prospects, operation, profitability or value of the Company or the value of the Shares, the Sellers must, immediately on becoming aware of that event, give notice to the Buyer fully describing the event. Nothing in
this clause limits the Buyer’s rights under clause 15 or otherwise. 
  

	4.5	No discussions 

 Until Completion, the Sellers and the Warrantor must not solicit or
respond to any enquiries or proposals by any person, other than the Buyer, concerning an acquisition of any Shares. 
  

	5.	Completion 

  

	5.1	Time and place for Completion 

 Completion must occur on the date determined under clause
2.2 at: 
  

	 	(a)	the offices of K&L Gates, Level 31, 1 O’Connell St, Sydney NSW 2000 at 11.00 

  

	 	 	am; or 

  

	 	(b)	any other place or time agreed in writing between the Sellers and the Buyer. 

  

	5.2	Sellers’ obligations at Completion  

 On or before Completion the Sellers
must: 
  

	 	(a)	deliver or cause to be delivered to the Buyer: 

  

	 	(i)	a duly executed transfer of the Shares in favour of the Buyer in registrable form; 

  

	 	(ii)	share certificates (or certificate of indemnity for a lost or destroyed certificate in agreed form) in respect of all of the Shares; 

 

	 	(iii)	duly executed written instruments irrevocably waiving in favour of the Buyer all pre-emptive rights (if any) which any person other than a Seller has in respect of any of the
Shares; 

  

	 	(iv)	any consents, waivers or documents necessary to evidence to the Buyer’s satisfaction that each of the Conditions has been and remains fulfilled or waived under clause 3.3; 

  
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	 	(v)	to the extent they relate to the Company, the constitution, certificate of incorporation or registration (including any certificate of incorporation or registration on change of name), common seal (if any), all
statutory registers, minute books and other records of directors’ and shareholders’ meetings of the Company in proper order and condition, fully entered up to the Completion Date and otherwise complying with all requirements under the Law;

  

	 	(vi)	the ASIC corporate key for the Company; 

  

	 	(vii)	to the extent they relate to the Company, all financial and accounting books and Records, copies of Taxation returns lodged and assessments issued under the Tax Act, fringe benefits tax returns, business activity
statements, land tax assessments, mortgages, leases, agreements, insurance policies, title documents, licences, certificates and all other Records; 

  

	 	(viii)	an original of the Hopper Appointment Agreement duly executed by the Warrantor; 

  

	 	(ix)	an original of the Chong Appointment Agreement duly executed by Mi Ok Chong; and 

  

	 	(x)	a copy of the executed resolution of the Company to adopt a new Constitution; 

  

	 	(b)	cause circulating resolutions of the directors of the Company to be passed in which: 

  

	 	(i)	the registration of the transfer to the Buyer of the Shares is, subject to payment of any Stamp Duty on them, approved; 

  

	 	(ii)	the persons nominated in writing for that purpose by the Buyer and who have consented to so act, are appointed as directors, secretary and public officer of the Company; and 

 

	 	(iii)	the existing directors, alternate directors, secretary and public officer of the Company resign in writing from their respective offices with effect from Completion (without any payment as compensation for loss of
office or otherwise); 

  

	 	(iv)	with effect from Completion, the registered office of the Company is changed to the address requested by the Buyer; and 

  

	 	(v)	all other action necessary to place the Buyer in operating control of the Company with effect from Completion is taken or done; 

  

	 	(c)	deliver to the Buyer a letter (in the form required by the Buyer) signed by each resigning officer (including any alternate directors) of the Company and acknowledging that he or she has no Claim against the Company for
breach of contract, loss of office, redundancy, unfair dismissal, compensation, payment or repayment of loans or otherwise; 

  

	 	(d)	ensure that all matters or actions necessary to give effect to the resolutions of the Company passed in accordance with clause 5.2(b) are done or taken; 

 

	 	(e)	pay to the Company the following amounts (if any) paid by or accrued in the accounts of the Company: 

  

	 	(i)	any commissions or finders fees related to or in any way connected with the transactions contemplated by this Agreement; 

  

	 	(ii)	any legal, accounting or other professional adviser’s costs related to or in any way connected with the transactions contemplated by this Agreement; and 

  
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	 	(iii)	any other costs of the Sellers relevant to the transactions contemplated by this Agreement that have been paid by or accrued in the accounts of the Company; and 

 

	 	(f)	do all other acts and execute all other documents that this Agreement requires the Sellers to do or execute at Completion. 

  

	5.3	Buyer’s obligations at Completion 

 At Completion the Buyer must: 

 

	 	(a)	provide any consents, waivers or documents necessary to evidence to the Sellers’ satisfaction that each of the Conditions has been and remains fulfilled (or waived under clause 3.3); 

 

	 	(b)	provide the Completion Consideration in accordance with clause 6; 

  

	 	(c)	cause sufficient instruments of consent to be available to allow the Company to pass the resolutions required by clause 5.2(b)(ii); 

  

	 	(d)	deliver or cause to be delivered to the Warrantor an original of the Hopper Appointment Agreement duly executed by the Buyer; 

  

	 	(e)	deliver or cause to be delivered to Mi Ok Chong, an original of the Chong Appointment Agreement duly executed by the Buyer; and 

  

	 	(f)	do all other acts and execute all other documents that this Agreement requires the Buyer to do or execute at Completion. 

  

	5.4	Conditions of Completion 

  

	 	(a)	The obligations of the Buyer and the Sellers under this clause 5 (other than a requirement that has been waived under clause 5.5) are interdependent. Completion is conditional on, and will not be taken to have occurred
until, both the Buyer and the Sellers have complied with all of their respective obligations under this clause 5 (other than a requirement that has been waived under clause 5.5). 

 

	 	(b)	If either the Sellers or the Buyer fail to fully comply with their obligations under this clause 5 and Completion does not occur, then the other of them may, if not otherwise in breach of this Agreement, terminate this
Agreement by giving notice to all other parties and each of the Sellers and the Buyer must promptly: 

  

	 	(i)	return to the other all documents delivered to it under this clause 5; 

  

	 	(ii)	repay to the other all payments received by it under this clause 5; and 

  

	 	(iii)	do everything reasonably required by the other to reverse any action taken under this clause 5, 

  

	 	 	without prejudice to any other rights any party may have in respect of that failure. 

  

	5.5	Delayed delivery of Completion items 

 The Buyer may by notice given to the Sellers on or
before Completion, waive the requirement of the Sellers to comply with one or more of the requirements referred to in clause 5.2, in which case Completion will still occur and the Sellers are not required to comply with the requirements specified in
the notice on or before Completion, but instead must comply with: 

  
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	 	(a)	those requirements as soon as reasonably possible after Completion; and 

  

	 	(b)	any conditions to the Buyer’s waiver set out in the notice, 

 and the Sellers must
indemnify the Buyer against any Claim or Liability that the Buyer pays, suffers, incurs or is liable for as a result of those requirements not being complied with on or before Completion. 

 

	6.	Completion Consideration 

  

	6.1	Completion Cash Amount 

 On Completion the Buyer must pay the Completion Cash Amount to
the Sellers (or as directed by the Sellers). 
  

	6.2	Completion Shares 

  

	 	(a)	At least 2 Business Days prior to Completion, the Sellers must give notice to the Buyer setting out: 

  

	 	(i)	the details of each Seller Nominee for the Completion Shares; and 

  

	 	(ii)	the proportion of Completion Shares to be issued to each Seller Nominee. 

  

	 	(b)	On Completion the Buyer must: 

  

	 	(i)	issue the Completion Shares to each Seller Nominee in accordance with notice given by the Sellers pursuant to clause 6.2(a). The parties agree and acknowledge that the Completion Shares in the Buyer shall only be issued
if issued to each Seller Nominee subject to an escrow upon the provisions of the Escrow Agreement for the period which is the longer of the following: 

  

	 	(A)	6 months from the date of issue of the Completion Shares; or 

  

	 	(B)	the period which the ASX determines in its absolute discretion; 

  

	 	(ii)	deliver to the Sellers: 

  

	 	(A)	a certified copy of an extract of the minutes of a meeting of the board of directors of the Buyer resolving to issue the Completion Shares to each Seller Nominee; and 

 

	 	(B)	an original counterpart of an Escrow Agreement with respect to each Seller Nominee, duly executed by the Buyer, with respect to the Completion Shares to be issued to that Seller Nominee; and 

 

	 	(iii)	instruct the Buyer’s share registry to record the issue of the Completion Shares to each Seller Nominee in the Buyer’s uncertificated sub-register. 

 

	 	(c)	On Completion the Sellers must deliver or procure the delivery to the Buyer of: 

  

	 	(i)	an accountant’s certificate under section 708(8)(c) of the Corporations Act with respect to each Seller Nominee to whom the Completion Shares are to be issued; 

 

	 	(ii)	an original counterpart of an Escrow Agreement with respect to each Seller Nominee, duly executed by that Seller Nominee, with respect to the Completion Shares to be issued to that Seller Nominee; and 

  
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	 	(iii)	an application to the Buyer, in a form approved by the Buyer, for the Completion Shares for each Seller Nominee duly executed by that Seller Nominee. 

 

	 	(d)	Within 5 days from the date the Completion Shares are issued the Buyer will give to the ASX a notice under section 708A(6) of the Corporations Act. 

 

	 	(e)	The Completion Shares will rank equally in all respects with the other then existing issued Novogen Shares from the date of issue and will be freely tradeable from the date of lodgement by the Buyer of a notice under
section 708A(6) of the Corporations Act. 

  

	7.	Milestone Consideration 

  

	7.1	Milestones 

 The Sellers will be entitled to the Milestone Consideration in accordance
with this clause 7. For the avoidance of doubt, the Sellers will not be entitled to any consideration where a corresponding Milestone has not been achieved. 
  

	7.2	Milestone 1 

 As soon as practicable after Milestone 1 has been achieved, the Buyer must
give written notice to the Sellers to that effect (Milestone 1 Notice) and the Buyer must cause the Milestone 1 Shares to be issued to the Sellers in accordance with clause 7.3. 

 

	7.3	Mechanics of issue of Milestone 1 Shares 

  

	 	(a)	Within 2 Business Days of the Milestone 1 Notice, the Sellers must give notice to the Buyer setting out: 

  

	 	(i)	the details of each Seller Nominee for the Milestone 1 Shares; and 

  

	 	(ii)	the number of Milestone 1 Shares to be issued to each Seller Nominee. 

  

	 	(b)	Within 40 Business Days of the Milestone 1 Notice the Buyer will: 

  

	 	(i)	issue the Milestone 1 Shares to each Seller Nominee in accordance with the notice issued by the Sellers pursuant to clause 7.3(a). The parties agree and acknowledge that the Milestone 1 Shares in the Buyer shall only be
issued if issued to each Seller Nominee subject to an escrow upon the provisions of the Escrow Agreement for the period which is the longer of the following: 

  

	 	(A)	6 months from the date of issue of the Milestone 1 Shares; or 

  

	 	(B)	the period which the ASX determines in its absolute discretion; 

  

	 	(ii)	deliver to the Sellers: 

  

	 	(A)	a certified copy of an extract of the minutes of a meeting of the board of directors of the Buyer resolving to issue the Milestone 1 Shares to each Seller Nominee; and 

 

	 	(B)	an original counterpart of an Escrow Agreement with respect to each Seller Nominee, duly executed by the Buyer, with respect to the Milestone 1 Shares to be issued to that Seller Nominee; and 

 

	 	(iii)	instruct the Buyer’s share registry to record the issue of the Milestone 1 Shares to each Seller Nominee in the Buyer’s uncertificated sub-register. 

  
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	 	(c)	Within 40 Business Days of the Milestone 1 Notice the Sellers must deliver or procure the delivery to the Buyer of: 

  

	 	(i)	an accountant’s certificate under section 708(8)(c) of the Corporations Act with respect to each Seller Nominee to whom the Milestone 1 Shares are to be issued; 

 

	 	(ii)	an original counterpart of an Escrow Agreement with respect to each Seller Nominee, duly executed by that Seller Nominee, with respect to the Milestone 1 Shares to be issued to that Seller Nominee; and

  

	 	(iii)	an application to the Buyer, in a form approved by the Buyer, for the Milestone 1 Shares for each Seller Nominee duly executed by that Seller Nominee. 

 

	 	(d)	Within 5 days from the date the Milestone 1 Shares are issued the Buyer will give to the ASX a notice under section 708A(6) of the Corporations Act. 

 

	 	(e)	The Milestone 1 Shares will rank equally in all respects with the other then existing issued Novogen Shares from the date of issue and will be freely tradeable from the date of lodgement by the Buyer of a notice under
section 708A(6) of the Corporations Act. 

  

	7.4	Milestone 2 

 As soon as practicable after Milestone 2 has been achieved, the Buyer must
give written notice to the Sellers to that effect (Milestone 2 Notice), and the Buyer must cause the Milestone 2 Shares to be issued to the Sellers in accordance with clause 7.5. 

 

	7.5	Mechanics of issue of Milestone 2 Shares 

  

	 	(a)	Within 2 Business Days of the Milestone 2 Notice, the Sellers must give notice to the Buyer setting out: 

  

	 	(i)	the details of each Seller Nominee for the Milestone 2 Shares; and 

  

	 	(ii)	the number of Milestone 2 Shares to be issued to each Seller Nominee. 

  

	 	(b)	Within 40 Business Days of the Milestone 2 Notice the Buyer will: 

  

	 	(i)	issue the Milestone 2 Shares to each Seller Nominee in accordance with the notice issued by the Sellers pursuant to clause 7.5(a). The parties agree and acknowledge that the Milestone 2 Shares in the Buyer shall only be
issued if issued to each Seller Nominee subject to an escrow upon the provisions of the Escrow Agreement for the period which is the longer of the following: 

  

	 	(A)	6 months from the date of issue of the Milestone 2 Shares; or 

  

	 	(B)	the period which the ASX determines in its absolute discretion; 

  

	 	(ii)	deliver to the Sellers: 

  

	 	(A)	a certified copy of an extract of the minutes of a meeting of the board of directors of the Buyer resolving to issue the Milestone 2 Shares to each Seller Nominee; and 

 

	 	(B)	an original counterpart of an Escrow Agreement with respect to each Seller Nominee, duly executed by the Buyer, with respect to the Milestone 2 Shares to be issued to that Seller Nominee; and 

  
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	 	(iii)	instruct the Buyer’s share registry to record the issue of the Milestone 2 Shares to each Seller Nominee in the Buyer’s uncertificated sub-register. 

 

	 	(c)	Within 40 Business Days of the Milestone 2 Notice the Sellers must deliver or procure the delivery to the Buyer of: 

  

	 	(i)	an accountant’s certificate under section 708(8)(c) of the Corporations Act with respect to each Seller Nominee to whom the Milestone 2 Shares are to be issued; 

 

	 	(ii)	an original counterpart of an Escrow Agreement with respect to each Seller Nominee, duly executed by that Seller Nominee, with respect to the Milestone 2 Shares to be issued to that Seller Nominee; and

  

	 	(iii)	an application to the Buyer, in a form approved by the Buyer, for the Milestone 2 Shares for each Seller Nominee duly executed by that Seller Nominee. 

 

	 	(d)	Within 5 days from the date the Milestone 2 Shares are issued the Buyer will give to the ASX a notice under section 708A(6) of the Corporations Act. 

 

	 	(e)	The Milestone 2 Shares will rank equally in all respects with the other then existing issued Novogen Shares from the date of issue and will be freely tradeable from the date of lodgement by the Buyer of a notice under
section 708A(6) of the Corporations Act. 

  

	7.6	Milestone 3 

  

	 	(a)	As soon as practicable after Milestone 3 has been achieved, the Buyer must give written notice to the Sellers to that effect (Milestone 3 Trigger Notice), and the Buyer must, subject to clause 7.10, either:

  

	 	(i)	issue the Milestone 3 Trigger Shares in accordance with clause 7.7; or 

  

	 	(ii)	pay the Milestone 3 T rigger Cash Payment in accordance with clause 7.9, as determined by the election of the Buyer in clause 7.6(c). 

 

	 	(b)	Subject to clause 7.10, as soon as practicable after a Capital Raising Announcement with respect to each Capital Raising after the Milestone 3 Trigger Date, the Buyer must give written notice to the Sellers setting out
the consideration payable to the Sellers for that Capital Raising (Capital Raising Notice), and Buyer must either: 

  

	 	(i)	issue the Capital Raising Shares in relation to that Capital Raising in accordance with clause 7.7; or 

  

	 	(ii)	pay the Capital Raising Cash Payment in relation to that Capital Raising in Accordance with clause 7.9, 

as determined at the election of the Buyer in accordance with clause 7.6(c). 

 

	 	(c)	Within 5 Business Days of the Milestone 3 Trigger Notice, the Buyer must elect to pay the Milestone 3 Consideration either by way of shares or cash and must give notice of such election to the Sellers (Election Notice).

  

	7.7	Mechanics of Milestone 3 Consideration - Shares 

 Subject to clauses 7.8 and 7.10, if the
Buyer elects in accordance with clause 7.6(c) to provide the Milestone 3 Consideration by way of shares: 

  
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	 	(a)	within 2 Business Days of the Election Notice, the Sellers must give notice to the Buyer setting out: 

  

	 	(i)	the details of each Seller Nominee for the Milestone 3 Trigger Shares; and 

  

	 	(ii)	the proportion of Milestone 3 Trigger Shares to be issued to each Seller Nominee; 

  

	 	(b)	within 40 Business Days of the Milestone 3 Trigger Notice the Buyer will: 

  

	 	(i)	issue the Milestone 3 Trigger Shares to each Seller Nominee in accordance with the notice issued by the Sellers pursuant to clause 7.7(a). The parties agree and acknowledge that the Milestone 3 Trigger Shares in the
Buyer shall only be issued if issued to each Seller Nominee subject to an escrow upon the provisions of the Escrow Agreement for the period which is the longer of the following: 

 

	 	(A)	6 months from the date of issue of the Milestone 3 Trigger Shares; or 

  

	 	(B)	the period which the ASX determines in its absolute discretion; 

  

	 	(ii)	deliver to the Sellers: 

  

	 	(A)	a certified copy of an extract of the minutes of a meeting of the board of directors of the Buyer resolving to issue the Milestone 3 Trigger Shares to each Seller Nominee; and 

 

	 	(B)	an original counterpart of an Escrow Agreement with respect to each Seller Nominee, duly executed by the Buyer, with respect to the Milestone 3 Trigger Shares to be issued to that Seller Nominee; and 

 

	 	(iii)	instruct the Buyer’s share registry to record the issue of the Milestone 3 Trigger Shares to each Seller Nominee in the Buyer’s uncertificated subregister; 

 

	 	(c)	within 40 Business Days of the Milestone 3 Trigger Notice the Sellers must deliver or procure the delivery to the Buyer of: 

  

	 	(i)	an accountant’s certificate under section 708(8)(c) of the Corporations Act with respect to each Seller Nominee to whom the Milestone 3 Trigger Shares are to be issued; 

 

	 	(ii)	an original counterpart of an Escrow Agreement with respect to each Seller Nominee, duly executed by that Seller Nominee, with respect to the Milestone 3 Trigger Shares to be issued to that Seller Nominee; and

  

	 	(iii)	an application to the Buyer, in a form approved by the Buyer, for the Milestone 3 Trigger Shares for each Seller Nominee duly executed by that Seller Nominee. 

 

	 	(d)	within 20 Business Days of each Capital Raising Notice, the Sellers must give notice to the Buyer setting out: 

  

	 	(i)	the details of each Seller Nominee for the Capital Raising Shares relevant to the notice; and 

  

	 	(ii)	the proportion of Capital Raising Shares to be issued to each Seller Nominee; 

  

	 	(e)	within 40 Business Days of each Capital Raising Notice the Buyer will: 

  
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	 	(i)	issue the applicable Capital Raising Shares to each Seller Nominee in accordance with the notice issued by the Sellers pursuant to clause 7.7(d). The parties agree and acknowledge that the Capital Raising Shares in the
Buyer shall only be issued if issued to each Seller Nominee subject to an escrow upon the provisions of the Escrow Agreement for the period which is the longer of the following: 

 

	 	(A)	6 months from the date of issue of the Capital Raising Shares; or 

  

	 	(B)	the period which the ASX determines in its absolute discretion; 

  

	 	(ii)	deliver to the Sellers: 

  

	 	(A)	a certified copy of an extract of the minutes of a meeting of the board of directors of the Buyer resolving to issue the Capital Raising Shares to each Seller Nominee; and 

 

	 	(B)	an original counterpart of an Escrow Agreement with respect to each Seller Nominee, duly executed by the Buyer, with respect to the Capital Raising Shares to be issued to that Seller Nominee; and 

 

	 	(iii)	instruct the Buyer’s share registry to record the issue of the applicable Capital Raising Shares to each Seller Nominee in the Buyer’s uncertificated sub-register;

  

	 	(f)	within 40 Business Days of each Capital Raising Notice the Sellers must deliver or procure the delivery to the Buyer of: 

  

	 	(i)	an accountant’s certificate under section 708(8)(c) of the Corporations Act with respect to each Seller Nominee to whom the applicable Capital Raising Shares are to be issued; 

 

	 	(ii)	an original counterpart of an Escrow Agreement with respect to each Seller Nominee, duly executed by that Seller Nominee, with respect to the Capital Raising Shares to be issued to that Seller Nominee; and

  

	 	(iii)	an application to the Buyer, in a form approved by the Buyer, for the Capital Raising Shares for each Seller Nominee duly executed by that Seller Nominee. 

 

	 	(g)	Within 5 days from the date any Milestone 3 Shares are issued the Buyer will give to the ASX a notice under section 708A(6) of the Corporations Act. 

 

	 	(h)	The Milestone 3 Shares will rank equally in all respects with the other then existing issued Novogen Shares from the date of issue and will be freely tradeable from the date of lodgement by the Buyer of a notice under
section 708A(6) of the Corporations Act. 

  

	7.8	If approvals not obtained 

  

	 	(a)	If: 

  

	 	(i)	the Buyer elects in accordance with clause 7.6(c) to provide the Milestone 3 Consideration by way of shares; and 

  

	 	(ii)	the Buyer is unable to obtain all necessary consents and approvals for the issue of the relevant Novogen Shares within 35 Business Days of a Milestone 3 Trigger Notice or a Capital Raising Notice (as applicable),

 the Buyer must pay the Sellers the applicable portion of the Milestone 3 Consideration by cash and clause 7.7 will not
apply. 

  
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	 	(b)	If clause 7.8(a) applies: 

  

	 	(i)	in relation to the Milestone 3 Trigger Shares, the Buyer will pay the Milestone 3 Trigger Cash Payment to the Sellers (or as the Sellers direct) within 40 Business Days of the Milestone 3 Trigger Notice; or

  

	 	(ii)	in relation to Capital Raising Shares, the Buyer will pay the Capital Raising Cash Payment applicable to the relevant Capital Raising to the Sellers (or as the Sellers direct) within 40 Business Days of the relevant
Capital Raising Notice. 

  

	 	(c)	For the avoidance of doubt, the Sellers will only ever be entitled to payment with respect to a particular Capital Raising in either cash or shares. 

 

	7.9	Mechanics of Milestone 3 Consideration - Cash 

 Subject to clause 7.10, if the Buyer
elects to provide the Milestone 3 Consideration by way of cash: 
  

	 	(a)	within 7Business Days of the Milestone 3 Trigger Notice, the Buyer will pay the Milestone 3 Trigger Cash Payment to the Sellers (or as the Sellers direct); and 

 

	 	(b)	within 7 Business Days of each Capital Raising Notice, the Buyer will pay the Capital Raising Cash Payment for that Capital Raising to the Sellers (or as the Sellers direct). 

 

	7.10	Maximum Payable 

 Despite any other provision of this Agreement, the maximum Milestone 3
Consideration payable is: 
  

	 	(a)	If the Buyer elects to provide the Milestone 3 Consideration by way of cash, XXXXX; or 

  

	 	(b)	If the Buyer elects to provide the Milestone 3 Consideration by way of shares, the amount of Novogen Shares equal to XXXX determined by reference to the value of the Capital Raising Shares as at the time of issue to the
Seller Nominees. 

  

	7.11	Milestone 4 

 As soon as practicable after the Buyer announces to the ASX that Milestone
4 has been achieved, the Buyer must give written notice to the Sellers to that effect (Milestone 4 Notice), and the Milestone 4 Consideration will be payable in accordance with clause 7.12. 

 

	7.12	Mechanics of Milestone 4 Consideration 

  

	 	(a)	Subject to clause 7.12(c), if the Buyer elects to provide the Milestone 4 Consideration by way of the Milestone 4 Shares: 

  

	 	(i)	within 2 Business Days of the Milestone 4 Notice, the Sellers must give notice to the Buyer setting out: 

  

	 	(A)	the details of each Seller Nominee for the Milestone 4 Shares; and 

  

	 	(B)	the number of Milestone 4 Shares to be issued to each Seller Nominee; 

  
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	 	(ii)	within 40 Business Days of the Milestone 4 Notice the Buyer will: 

  

	 	(A)	issue the Milestone 4 Shares to each Seller Nominee in accordance with the notice issued by the Sellers pursuant to clause 7.12(a)(i). The parties agree and acknowledge that the Milestone 4 Shares in the Buyer shall
only be issued if issued to each Seller Nominee subject to an escrow upon the provisions of the Escrow Agreement for the period which is the longer of the following: 

 

	 	(a)	6 months from the date of issue of the Milestone 4 Shares; or 

  

	 	(b)	the period which the ASX determines in its absolute discretion; 

  

	 	(B)	deliver to the Sellers: 

  

	 	(a)	a certified copy of an extract of the minutes of a meeting of the board of directors of the Buyer resolving to issue the Milestone 4 Shares to each Seller Nominee; and 

 

	 	(b)	an original counterpart of an Escrow Agreement with respect to each Seller Nominee, duly executed by the Buyer, with respect to the Milestone 4 Shares to be issued to that Seller Nominee; and 

 

	 	(C)	instruct the Buyer’s share registry to record the issue of the Milestone 4 Shares to each Seller Nominee in the Buyer’s uncertificated sub-register; and

  

	 	(iii)	within 40 Business Days of the Milestone 4 Notice the Sellers must deliver or procure the delivery to the Buyer of: 

  

	 	(A)	an accountant’s certificate under section 708(8)(c) of the Corporations Act with respect to each Seller Nominee to whom the Milestone 4 Shares are to be issued; 

 

	 	(B)	an original counterpart of an Escrow Agreement with respect to each Seller Nominee, duly executed by each that Seller Nominee with respect to the Milestone 4 Shares to be issued to that Seller Nominee; and

  

	 	(C)	an application to the Buyer, in a form approved by the Buyer, for the Milestone 4 Shares for each Seller Nominee, duly executed by that Seller Nominee. 

 

	 	(iv)	Within 5 days from the date the Milestone 4 Shares are issued the Buyer will give to the ASX a notice under section 708A(6) of the Corporations Act. 

 

	 	(v)	The Milestone 4 Shares will rank equally in all respects with the other then existing issued Novogen Shares from the date of issue and will be freely tradeable from the date of lodgement by the Buyer of a notice under
section 708A(6) of the Corporations Act. 

  

	 	(b)	If the Buyer elects to provide the Milestone 4 Consideration by way of the Milestone 4 Cash Payment, within 7 Business Days of the Milestone 4 Notice the Buyer will pay the Milestone 4 Cash Payment to the Sellers (or as
the Sellers direct). 

  

	 	(c)	If: 

  

	 	(i)	the Buyer elects in accordance with clause 7.12(a) to provide the Milestone 4 Consideration by way of Milestone 4 Shares; and 

  
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	 	(ii)	the Buyer is unable to obtain all necessary consents and approvals for the issue of the Milestone 4 Shares within 35 Business Days of the Milestone 4 Notice, 

the Buyer must pay to the Sellers the Milestone 4 Consideration by way of the Milestone 4 Cash Payment within 40 Business Days of the
Milestone 4 Notice, and clause 7.12(a) will not apply. 
  

	 	(d)	For the avoidance of doubt, the Sellers will only ever be entitled to payment of the Milestone 4 Consideration in either cash or shares. 

 

	8.	Obligations until registration of transfer 

  

	8.1	Buyer’s obligation to register 

 The Buyer must ensure that registration of the
transfer of the Shares to the Buyer takes place as soon as possible after Completion. 
  

	8.2	Sellers’ obligations 

 After Completion and until the Shares are registered in the
name of the Buyer, the Sellers must convene and attend meetings of the Company, vote at those meetings and take all other action as registered holder of the Shares as the Buyer may lawfully require from time to time by notice to the Sellers. 

 

	9.	Rights and obligations after Completion 

  

	9.1	Novogen Appointment 

  

	 	(a)	Within 28 days of Completion, the Buyer must use its best endeavours to appoint Dr Alan Olivero to the scientific board of the Buyer. 

 

	 	(b)	For the avoidance of doubt, nothing in clause 9.1(a) requires the Buyer to take any action which does not comply with any Laws (including any ASX Listing Rules) or the Buyer’s constitution. 

 

	9.2	Sellers assistance following Completion 

  

	 	(a)	During the period from Completion to the date which is 3 months after Completion (Transition Period), the Sellers must at their own expense provide all assistance to the Buyer as reasonably necessary to facilitate a
smooth and complete transition of the management of the Company to the Buyer, including to: 

  

	 	(i)	provide the Buyer with any information in the possession or control of the Sellers concerning the matters relating to the Company or the Business; 

 

	 	(ii)	if so requested, attend at an address nominated by the Buyer to assist the Buyer to gain knowledge concerning the Business and its conduct; and 

 

	 	(iii)	liaise with any Third Parties with respect to the transfer of the Company and Business to the Buyer. 

  

	 	(b)	The Sellers will not be required to incur any Third Party expense in the course of providing reasonable assistance during the Transition Period. 

 

	9.3	Access to Records 

  

	 	(a)	The Sellers may retain after Completion copies of any Records necessary for the Sellers to comply with any applicable Law (including Tax Law) and to prepare Tax and other returns required of the Sellers by Law.

  
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	 	(b)	The Buyer must ensure that the Company retains all Records required to be retained by Law existing at Completion for the period that they are required to be retained by Law after Completion. 

 

	 	(c)	Without limiting clause 9.3(a), the Buyer must ensure that the Sellers are promptly afforded reasonable access to the Records referred to in clause 9.3(b) on reasonable request by the Sellers for the purpose of enabling
the Sellers to do all or any of the following: 

  

	 	(i)	comply with any applicable Law (including a Tax Law); 

  

	 	(ii)	prepare any financial statement or Tax return; and 

  

	 	(iii)	defend or deal with any Claim against the Sellers. 

  

	10.	Tax matters 

  

	10.1	Completion of Tax returns and calculations 

  

	 	(a)	As soon as practicable after Completion, the Buyer must procure that the Company prepares all Tax returns that have not been lodged for periods of account concluded before Completion and deliver a copy in draft form to
the Sellers. 

  

	 	(b)	For any period of account which commences before but ends on or after Completion, the Buyer must as soon as practicable after the end of that period, procure that the Company prepares a Tax return for that period and
deliver a copy in draft form to the Sellers. 

  

	 	(c)	Both the Sellers and the Buyer must co-operate fully with each other in the preparation of each Tax return referred to in clauses 10.1(a) and 10.1(b). 

 

	 	(d)	A Tax return referred to in clause 10.1(a) must not be filed with the relevant Government Agency until: 

  

	 	(i)	the Sellers have agreed to the substance of the Tax return, and in this regard, the Sellers have 10 Business Days from receipt of the Tax return (Revision Period) to notify the Buyer of any revisions sought (Revision
Notice); 

  

	 	(ii)	the Revision Period lapses and no Revision Notice has been received by the Buyer; or 

  

	 	(iii)	the Revision Period lapses after the Sellers gives a Revision Notice but any revision suggested has not been agreed to by the Buyer within 5 Business Days after the end of the Revision Period, in which case the Tax
return must be lodged adopting the least favourable tax treatment for the Company. 

  

	10.2	Tax enquiries or audits by Government Agency 

  

	 	(a)	If the Buyer or the Company receives any written communication or notice from any Government Agency of any enquiry, including any request for information, notice to produce documents, audit, review or request for a
meeting (Tax Enquiry): 

  

	 	(i)	relating to the Company; 

  
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	 	(ii)	wholly or partially in relation to the period before Completion; and 

  

	 	(iii)	that is likely to lead to a circumstance as a result of which the Buyer, would, or would be likely to, make a Warranty Claim, 

then the Buyer or the Company must promptly notify the Sellers of that fact in writing within 10 Business Days after receipt of the Tax
Enquiry. 
  

	 	(b)	Where a Tax Enquiry relates wholly to the period before Completion, the Sellers may: 

  

	 	(i)	control all discussions and communications with the relevant Government Agency in relation to the Tax Enquiry; and 

  

	 	(ii)	conduct, defend and settle any issue against or in respect of the Company, and the Buyer and the Company must, at the request of the Sellers, provide all such assistance as is reasonably necessary to defend or assist in
the defence of the Tax Enquiry. 

  

	 	(c)	Where a Tax Enquiry concerns both the period before and the period after Completion, then the Sellers and the Buyer must, and the Buyer must cause the Company to, co-operate fully
with each other to: 

  

	 	(i)	undertake discussions and communications with the relevant Government Agency in relation to the Tax Enquiry; and 

  

	 	(ii)	conduct, defend and settle any issue against the Company. 

  

	 	(d)	The rights of the Sellers under clauses 10.2(b) and 10.2(c) are conditional on the Sellers having confirmed in writing that they will indemnify the Buyer and the Company against any loss or reasonable costs and expenses
that they may suffer or incur as a result of them providing assistance to the Sellers under those clauses. 

  

	 	(e)	For the avoidance of doubt, the Buyer and the Company have full control of all other Tax Enquiries concerning the Company for periods of account commenced on or after Completion. 

 

	11.	Sellers’ Warranties 

  

	11.1	Warranties 

 The Seller Warrantors warrant and represent to the Buyer and the Company as
an inducement to the Buyer to enter into this Agreement that, subject to the limitations in this clause 11 and clause 13, each of the Sellers’ Warranties is true and accurate, and not misleading or deceptive, at the date of this Agreement and,
except as expressly stated, will be true, accurate and not misleading or deceptive at Completion. 
  

	11.2	Disclosure Material 

 The Buyer acknowledges that, where applicable, the Sellers’
Warranties are qualified by all information fully and fairly disclosed in the Disclosure Material. 
  

	11.3	Separate warranties 

 Each of the Sellers’ Warranties is a separate warranty and is
not limited or restricted by any other warranty, except if that limit or restriction is clearly stated in the relevant Sellers’ Warranty. 

  
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	11.4	Sellers must notify breaches 

 The Seller Warrantors must (whether before or after
Completion) disclose to the Buyer anything which has or will constitute a breach of a Sellers’ Warranty or cause a Sellers’ Warranty to be untrue or inaccurate, as soon as practicable after the Seller Warrantors becomes aware of it. 

 

	11.5	Qualification as to knowledge 

 Where any statement in the Sellers’ Warranties is
qualified by a person’s awareness or knowledge, that statement will be deemed to include an additional statement that it has been made after reasonable enquiries of the officers, employees and advisers of the Seller Warrantors and the Company,
and includes all matters, events or circumstances of which any of the Seller Warrantors or the Company should reasonably be aware or know. 
  

	12.	Indemnities 

  

	12.1	Indemnity for Warranty Claims 

  

	 	(a)	Subject to clauses 11 and 13, if the Buyer makes a Warranty Claim and notifies the Seller Warrantors to that effect, then the Seller Warrantors must jointly and severally indemnify the Buyer from and against any Claim
or Liability that the Buyer or the Company pays, suffers, incurs or is liable for as a direct or indirect result of the Sellers’ Warranty the subject of the Warranty Claim being untrue, inaccurate, misleading or deceptive. 

 

	 	(b)	Clause 12.1(a) does not apply to the extent that the Buyer is able to be indemnified from and against the relevant Claim or Liability under an indemnity in clause 12.2. 

 

	12.2	Tax Indemnity 

 The Seller Warrantors must indemnify the Buyer and the Company for: 

 

	 	(a)	the Tax Claim Amount in respect of any Tax Claim, to the extent that it: 

  

	 	(i)	relates to any period or part period that ends on or before Completion ; or 

  

	 	(ii)	arises as a result of or in respect of, or by reference to, any event, act or failure to act that occurs, or is deemed to occur, on or before or because of Completion; and 

 

	 	(b)	any Liability that the Buyer or the Company may suffer or incur as a result of the Buyer and the Company complying with clause 10.2. 

 

	13.	Claiming under the Sellers’ Warranties and the Indemnities 

  

	13.1	Notice of Claims 

  

	 	(a)	If the Buyer becomes aware of any matter that may give rise to a Warranty Claim or an Indemnity Claim, the Buyer must notify the Seller Warrantors in writing with details of the matter and an estimate of the amount of
the claim as soon as practicable after the Buyer becomes aware of the matter. 

  

	 	(b)	If after Completion the Buyer becomes aware of a matter that may give rise to a Warranty Claim or an Indemnity Claim as a result of a Third Party Claim made or threatened by a Third Party against the Buyer, the Company
or the Sellers, then the Buyer must notify the Seller Warrantors of the Third Party Claim in writing with details of the matter and an estimate of the amount involved as soon as practicable after the Buyer becomes aware of the matter.

  
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	 	(c)	If the Buyer intends to make a Warranty Claim or an Indemnity Claim, it must notify the Seller Warrantors in writing of that Warranty Claim or Indemnity Claim with details of the matter giving rise to the Claim and the
amount claimed (Claim Notice). A Claim Notice in respect of a Warranty Claim will be deemed to constitute notice of a corresponding Indemnity Claim under clause 12.1. 

 

	13.2	Seller Warrantors to consider Claims 

  

	 	(a)	The Seller Warrantors must notify the Buyer within 10 Business Days after receipt of a Claim Notice, indicating whether they admit or denies the relevant Claim (in whole or in part). 

 

	 	(b)	If the Seller Warrantors do not notify the Buyer within the period specified in clause 13.2(a), they will be taken to have admitted the Claim in full. 

 

	13.3	Time limits for Claims 

 The Buyer may not make a Warranty Claim or an Indemnity Claim
unless it provides a Claim Notice to the Seller Warrantors in respect of the relevant Claim on or before the expiration of 7 years after the date of Completion. 
  

	13.4	Maximum amount the Buyer may recover 

  

	 	(a)	The maximum total amount the Buyer may recover for all Warranty Claims (other than Warranty Claims relating to items 9, 10, 11 or 12 of Schedule 4, fraud or wilful concealment, which are excluded from this amount) must
not exceed the Purchase Consideration. 

  

	 	(b)	For the avoidance of doubt, no limit applies to Warranty Claims arising from fraud or wilful concealment. 

  

	13.5	Benefits received by the Buyer 

  

	 	(a)	The Buyer must reimburse the Seller Warrantors if: 

  

	 	(i)	the Buyer recovers an amount under this Agreement in respect of a Warranty Claim or an Indemnity Claim; and 

  

	 	(ii)	the Buyer or the Company then receives an amount from a Third Party, under a final judgment or award (which cannot be appealed) or under an enforceable settlement, and this amount would have reduced the amount recovered
by the Buyer if it had been received before the recovery. 

  

	 	(b)	The amount the Buyer must reimburse to the Seller Warrantors is equal to the amount the Buyer or the Company receives from the Third Party (less any costs incurred by the Buyer in obtaining the amount). However, the
amount to be reimbursed may not exceed the amount the Buyer recovered from the Seller Warrantors under the relevant Warranty Claim or Indemnity Claim. 

  

	13.6	Escrow arrangement where Claim made 

 Without limiting the operation of this Agreement,
where a Claim under this Agreement is made by the Buyer prior to the expiry of any escrow period under an Escrow Agreement executed pursuant to this Agreement, then, subject to the ASX providing its consent if such consent is necessary to be
obtained: 
  

	 	(a)	the Buyer may in writing extend the relevant escrow period until resolution of the Claim; 

  
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	 	(b)	the Sellers must procure the agreement of any Seller Nominee under a relevant Escrow Agreement to the extension of the relevant escrow period in accordance with clause 13.6(a); and 

 

	 	(c)	where agreed by the parties, or determined by a court, that an amount with respect to the Claim is due to the Buyer from the Sellers or the Warrantor, without limitation to or waiving any of the Buyer’s rights:

  

	 	(i)	the Buyer may as agent for the relevant Seller Nominee(s) sell the Novogen Shares which are the subject of the relevant Escrow Agreement and apply the proceeds from the sale to the amount due to the Buyer in respect of
the Claim, with any excess to be paid to the relevant Seller Nominee; and 

  

	 	(ii)	the Sellers must procure any Seller Nominee under a relevant Escrow Agreement agrees to, and executes all necessary documents to enable, the operation of clause 13.6(c)(i) 

 

	13.7	Reduction in Purchase Price 

 To the maximum extent permitted by Law, any amount paid by
the Seller Warrantors to the Buyer or the Company under clause 12 or this clause 13 operates as a decrease in the Purchase Price. 
  

	14.	Buyer’s Warranties 

  

	14.1	Warranties 

 The Buyer warrants and represents to the Sellers that: 

 

	 	(a)	the execution and delivery of this Agreement has been properly authorised by all necessary corporate action of the Buyer; 

  

	 	(b)	the Buyer has full corporate power and lawful authority to execute and deliver this Agreement and to perform, or cause to be performed, its obligations under this Agreement; 

 

	 	(c)	this Agreement constitutes a legal, valid and binding obligation on the Buyer enforceable in accordance with its terms by appropriate legal remedy; 

 

	 	(d)	none of the following has occurred and is subsisting, or is threatened, in relation to the Buyer: 

  

	 	(i)	an application or order made, proceeding commenced, resolution passed or proposed in a notice of meeting, petition presented, meeting convened or other step taken for: 

 

	 	(A)	the winding up, dissolution, bankruptcy or administration of the Buyer; or 

  

	 	(B)	the Buyer entering into an arrangement, compromise or composition with or assignment for the benefit of its creditors or a class of them; 

 

	 	(ii)	the Buyer: 

  

	 	(A)	being (or being taken to be under applicable legislation) unable to pay its debts as and when they fall due; or 

  
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	 	(B)	stopping or suspending, or threatening to stop or suspend, payment of all or a class of its debts; or 

  

	 	(iii)	the appointment of an administrator, receiver, receiver and manager, liquidator, provisional liquidator or similar person to the Buyer or any of its assets; 

 

	 	(e)	this Agreement does not conflict with or result in the breach of or default under any provision of its constitution or any material term or provision of any agreement, deed, writ, order or injunction, judgment or Law to
which it is a party or a subject or by which it is bound; and 

  

	 	(f)	there are no Claims pending or threatened against it or to its knowledge by, against or involving any person which may have a material effect on the sale and purchase of the Shares in accordance with this Agreement.

  

	14.2	Warranties true on Completion 

 The Buyer warrants and represents to the Sellers that
each of the warranties set out in clause 14.1 is true and accurate, and not misleading or deceptive, at the date of this Agreement and, except as expressly stated, will be true, accurate and not misleading or deceptive at Completion. 

 

	15.	Termination by Buyer before Completion 

  

	15.1	Termination events 

 Each of the following is a termination event for the purposes of
this clause 15: 
  

	 	(a)	the Sellers materially breach a term of this Agreement; 

  

	 	(b)	any Sellers’ Warranty is or becomes false, misleading or incorrect when made or regarded as made under this Agreement (except to the extent fully and fairly disclosed in the Disclosure Material); and

  

	 	(c)	a material adverse change occurs in the Business, assets of the Company or the financial or trading position of the Company since the Accounts Date that was not disclosed in the Disclosure Material. 

 

	15.2	Right of Buyer to terminate 

 If: 

 

	 	(a)	a termination event occurs under clause 15.1; 

  

	 	(b)	the Buyer notifies the Sellers of that event within 5 Business Days after becoming aware of it, giving reasonable details of the relevant event; and 

 

	 	(c)	the Sellers are unable to remedy the termination event within 5 Business Days after receiving the notice (or such longer period or periods as may be allowed by the Buyer under clause 15.2(e)), 

then the Buyer may by giving notice to the Sellers at any time before Completion elect to: 

 

	 	(d)	terminate its obligation to buy the Shares and to perform its other obligations under this Agreement, in which event this Agreement terminates at the time the Buyer gives the notice; or 

 

	 	(e)	without affecting its rights to subsequently give notice under clause 15.2(d), delay Completion for a period or periods nominated by the Buyer to determine whether any of the matters referred to in clauses 15.1(a),
15.1(b) and 15.1(c) are remedied or cured within that period. 

  
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	15.3	Remedies cumulative 

 The Buyer may exercise its right of termination under this clause
15 without affecting any of its other rights and remedies. 
  

	16.	Public announcements 

  

	16.1	Making announcements 

 A party must not make, or authorise or cause to be made, any
public announcement relating to the negotiations between the parties or the subject matter of this Agreement unless: 
  

	 	(a)	it has the prior written consent of each other party; or 

  

	 	(b)	it is required to do so by Law or by the rules of any Financial Market to which a party, or a Related Body Corporate of a party, is subject. 

 

	16.2	Requirements 

 If the Sellers or the Warrantor are required to make a public announcement
under clause 16.1(b), they must before doing so, to the extent practicable and as soon as reasonably possible: 
  

	 	(a)	notify the Buyer of the proposed announcement; 

  

	 	(b)	consult with each the Buyer as to its content; and 

  

	 	(c)	use reasonable endeavours to consider any reasonable request by the Buyer concerning the proposed announcement. 

  

	17.	Confidentiality 

  

	17.1	Obligation of confidentiality 

 Subject to clauses 17.2 and 17.3, the Receiving Party
must: 
  

	 	(a)	keep the Confidential Information of or relating to the Disclosing Party confidential and not directly or indirectly disclose, divulge or communicate any of that Confidential Information to, or otherwise place that
Confidential Information at the disposal of, any other person without the prior written approval of the Disclosing Party; 

  

	 	(b)	take all reasonable steps to secure and keep secure all Confidential Information of or relating to the Disclosing Party which comes into its possession or control; and 

 

	 	(c)	not memorise, use, modify, reverse engineer or make copies, notes or records of that Confidential Information for any purpose other than in connection with the performance by the Receiving Party of its obligations under
this Agreement. 

  

	17.2	Exceptions 

 The obligations of confidentiality under clause 17.1 do not apply to: 

 

	 	(a)	any Confidential Information that: 

  

	 	(i)	is disclosed to the Receiving Party by a third party entitled to do so, whether before or after the date of this Agreement; 

  
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	 	(ii)	was already lawfully in the Receiving Party’s possession when it was given to the Receiving Party and was not otherwise acquired from the Disclosing Party directly or indirectly; or 

 

	 	(iii)	is generally available to the public at the date of this Agreement or subsequently becomes so available other than by reason of a breach of this Agreement; or 

 

	 	(b)	any disclosure of Confidential Information by the Receiving Party that is necessary to comply with any court order, law, or the applicable rules of any Financial Market if, to the extent practicable and as soon as
reasonably possible, the Receiving Party: 

  

	 	(i)	notifies the Disclosing Party of the proposed disclosure; 

  

	 	(ii)	consults with the Disclosing Party as to its content; and 

  

	 	(iii)	uses reasonable endeavours to comply with any reasonable request by the Disclosing Party concerning the proposed disclosure. 

  

	17.3	Disclosure to Recipient 

 A Receiving Party may disclose Confidential Information to a
Recipient only if the disclosure is made to the Recipient strictly on a “need to know basis” and, prior to the disclosure: 
  

	 	(a)	the Receiving Party notifies the Recipient of the confidential nature of the Confidential Information to be disclosed; and 

  

	 	(b)	the Recipient has given an undertaking to the Receiving Party, for the benefit of the Disclosing Party, to be bound by the obligations in this Agreement as if the Recipient were a Receiving Party in relation to the
Confidential Information to be disclosed. 

  

	17.4	Obligations 

  

	 	(a)	The Receiving Party must take all reasonable steps to ensure that any person to whom the Receiving Party is permitted to disclose Confidential Information under clause 17.3 complies at all times with the terms of this
Agreement as if that person were a Receiving Party. 

  

	 	(b)	The Receiving Party is liable for all acts or omissions of a Recipient which constitute a breach of this clause 18 as if such acts or omissions were acts or omissions of the Receiving Party. 

 

	17.5	Return or destruction of Confidential Information 

 Immediately on the written request of
the Disclosing Party or on the termination of this Agreement for any reason, the Receiving Party must: 
  

	 	(a)	cease using all Confidential Information of or relating to the Disclosing Party (or any Related Entity of the Disclosing Party); 

  

	 	(b)	deliver to the Disclosing Party all documents and other materials in its possession or control containing, recording or constituting that Confidential Information or, at the option of the Disclosing Party, destroy, and
certify to the Disclosing Party that it has destroyed, those documents and materials; and 

  
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	 	(c)	for Confidential Information stored electronically, permanently delete that Confidential Information from all electronic media on which it is stored, so that it cannot be restored. 

 

	17.6	Post Completion 

 On and from Completion: 

 

	 	(a)	all Information in the possession or control of the Sellers relating to or in any way connected with the Company will be deemed to be “Confidential Information” of or relating to the Buyer for the purposes of
this clause 17 and the Sellers must comply with the provisions of this clause 17 as if the Sellers were a “Receiving Party” of that Confidential Information; and 

 

	 	(b)	the Buyer may make use of the Confidential Information of or relating to the Company as it sees fit and without restriction under this Agreement. 

 

	18.	GST 

  

	18.1	Definitions 

 In this clause 18: 

 

	 	(a)	the expressions Consideration, GST, Input Tax Credit, Recipient, Supply, Tax Invoice and Taxable Supply have the meanings given to those expressions in the A New Tax System (Goods and Services Tax) Act 1999 (GST
Act); and 

  

	 	(b)	Supplier means any party treated by the GST Act as making a Supply under this Agreement. 

  

	18.2	Consideration is GST exclusive 

 Unless otherwise expressly stated, all prices or other
sums payable or Consideration to be provided under or in accordance with this Agreement are exclusive of GST. 
  

	18.3	Payment of GST 

  

	 	(a)	If GST is imposed on any Supply made under or in accordance with this Agreement, the Recipient of the Taxable Supply must pay to the Supplier an additional amount equal to the GST payable on or for the Taxable Supply,
subject to the Recipient receiving a valid Tax Invoice in respect of the Supply at or before the time of payment. 

  

	 	(b)	Payment of the additional amount must be made at the same time as payment for the Taxable Supply is required to be made in accordance with this Agreement. 

 

	18.4	Reimbursement of expenses 

 If this Agreement requires a party (the First Party) to pay
for, reimburse, set off or contribute to any expense, loss or outgoing (Reimbursable Expense) suffered or incurred by the other party (the Other Party), the amount required to be paid, reimbursed, set off or contributed by the First Party will be
the sum of: 
  

	 	(a)	the amount of the Reimbursable Expense net of Input Tax Credits (if any) to which the Other Party is entitled in respect of the Reimbursable Expense (Net Amount); and 

 

	 	(b)	if the Other Party’s recovery from the First Party is a Taxable Supply, any GST payable in respect of that Supply, such that after the Other Party meets the GST liability, it retains the Net Amount.

  
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	19.	General 

  

	19.1	Nature of obligations 

  

	 	(a)	Any provision in this Agreement which binds more than one person binds all of those persons jointly and each of them severally. 

  

	 	(b)	Each obligation imposed on a party by this Agreement in favour of another is a separate obligation. Unless specified otherwise, the performance of one obligation is not dependent on the performance of any other
obligation. 

  

	19.2	Entire understanding 

  

	 	(a)	This Agreement and the Licence Agreement and each executed Escrow Agreement contain the entire understanding between the parties concerning the subject matter of the Agreement and supersedes, terminates and replaces all
prior agreements and communications between the parties. 

  

	 	(b)	Each party acknowledges that, except as expressly stated in this Agreement, that party has not relied on any representation, warranty or undertaking of any kind made by or on behalf of another party in relation to the
subject matter of this Agreement. 

  

	19.3	Survival of obligations 

  

	 	(a)	Despite any other provision of this Agreement, any indemnity or obligation of confidence under this Agreement survives Completion or the termination of this Agreement, however arising, including clauses 1, 6, 7, 8, 9,
10, 11, 12, 13, 14, 15, 16, 17, and 19. 

  

	 	(b)	On termination under clause 3.4 or clause 15, no party has any obligation or liability to any other party, except in connection with claims that arose before termination. 

 

	19.4	No adverse construction 

 This Agreement, and any provision of this Agreement, is not to
be construed to the disadvantage of a party because that party was responsible for its preparation. 
  

	19.5	Further assurances 

 A party, at its own expense (unless otherwise provided in this
Agreement) and within a reasonable time of being requested by another party to do so, must do all things and execute all documents that are reasonably necessary to give full effect to this Agreement. 

 

	19.6	No waiver 

  

	 	(a)	A failure, delay, relaxation or indulgence by a party in exercising any power or right conferred on the party by this Agreement does not operate as a waiver of the power or right. 

 

	 	(b)	A single or partial exercise of the power or right does not preclude a further exercise of it or the exercise of any other power or right under this Agreement. 

 

	 	(c)	A waiver of a breach does not operate as a waiver of any other breach. 

  
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	19.7	Severability 

 Any provision of this Agreement which is invalid in any jurisdiction must
in relation to that jurisdiction: 
  

	 	(a)	be read down to the minimum extent necessary to achieve its validity, if applicable; and 

  

	 	(b)	be severed from this Agreement in any other case, 

 without invalidating or affecting the
remaining provisions of this Agreement or the validity of that provision in any other jurisdiction. 
  

	19.8	Successors and assigns 

 This Agreement binds and benefits the parties and their
respective successors and permitted assigns under clause 19.9. 
  

	19.9	No assignment 

 A party cannot assign or otherwise transfer the benefit of this Agreement
without the prior written consent of each other party. 
  

	19.10	Consents and approvals 

 Where anything depends on the consent or approval of a party
then, unless this Agreement provides otherwise, that consent or approval may be given conditionally or unconditionally or withheld, in the absolute discretion of that party. 
  

	19.11	No variation 

 This Agreement cannot be amended or varied except in writing signed by the
parties. 
  

	19.12	Costs 

 Each party must pay its own legal costs of and incidental to the preparation and
completion of this Agreement. 
  

	19.13	Duty 

  

	 	(a)	Any duty (including related interest or penalties) payable in respect of this Agreement or any instrument created in connection with it must be paid by the Buyer. 

 

	 	(b)	The Buyer undertakes to keep the Sellers indemnified against all liability relating to the duty, fines and penalties. 

  

	19.14	Governing law and jurisdiction 

  

	 	(a)	This Agreement is governed by and must be construed in accordance with the Law of New South Wales. 

  

	 	(b)	The parties submit to the non-exclusive jurisdiction of the courts of that State or Territory and the Commonwealth of Australia in respect of all matters arising out of or
relating to this Agreement, its performance or subject matter. 

  

	19.15	Notices 

 Any notice or other communication to or by a party under this Agreement: 

  
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	 	(a)	may be given by personal service, post or facsimile; 

  

	 	(b)	must be in writing, legible and in English addressed (depending on the manner in which it is given) as shown below: 

  

	 	(i)	If to the Sellers or (before Completion) the Company: 

Address:      Unit 101 50 McLachlan Avenue Rushcutters Bay NSW 2011 

Attention:    Paul Hopper 

Facsimile: 
  

	 	(ii)	If to the Buyer or (after Completion) the Company: 

Address:      P.O. Box 2333, Hornsby Westfield, NSW 1635 

Attention:    Dr James Garner 

Facsimile:    +61 2 9476 0388 
  

	 	(iii)	If to the Warrantor: 

 Address:      Unit 101 50 McLachlan Avenue
Rushcutters Bay NSW 2011 
 Attention:    Paul Hopper 

Facsimile: 
 or to any other
address last notified by the party to the sender by notice given in accordance with this clause; 
  

	 	(c)	must be signed: 

  

	 	(i)	in the case of a corporation registered in Australia, by any authorised representative or by the appropriate office holders of that corporation under section 127 of the Corporations Act; or 

 

	 	(ii)	in the case of a corporation registered outside of Australia, by a person duly authorised by that corporation under the laws governing the place of registration of that corporation; and 

 

	 	(d)	is deemed to be given by the sender and received by the addressee: 

  

	 	(i)	if delivered in person, when delivered to the addressee; 

  

	 	(ii)	if posted, at 9.00 am on the second business day after the date of posting to the addressee, whether delivered or not; 

  

	 	(iii)	if sent by facsimile transmission, on the date and time shown on the transmission report by the machine from which the facsimile was sent which indicates that the facsimile was sent in its entirety and in legible form
to the facsimile number of the addressee notified for the purposes of this clause, 

 but if the delivery or receipt is on a
day which is not a business day or is after 4.0 pm (addressee’s time), it is deemed to have been received at 9.00 am on the next business day. In this clause 19.15, ‘business day’ means a day which is not a Saturday, Sunday, public
holiday or bank holiday in the place of receipt of a communication. 
  

	19.16	Counterparts 

 If this Agreement consists of a number of signed counterparts, each is an
original and all of the counterparts together constitute the same document. 

  
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	19.17	Conflicting provisions 

 If there is any conflict between the main body of this Agreement
and any schedules or annexures comprising it, then the provisions of the main body of this Agreement prevail. 
  

	19.18	No merger 

 A term or condition of, or act done in connection with, this Agreement or
Completion does not operate as a merger of any of the undertakings, warranties and indemnities in this Agreement or the rights or remedies of the parties under this Agreement which continue unchanged. 

 

	19.19	Operation of indemnities 

 Unless this Agreement expressly provides otherwise: 

 

	 	(a)	each indemnity in this Agreement survives the expiry or termination of this Agreement; and 

  

	 	(b)	a party may recover a payment under an indemnity in this Agreement before it makes the payment in respect of which the indemnity is given. 

 

	19.20	No right of set-off 

 Unless this Agreement
expressly provides otherwise, a party has no right of set-off against a payment due to another party. 
  

	19.21	Relationship of parties 

 Unless this Agreement expressly provides otherwise, nothing in
this Agreement may be construed as creating a relationship of partnership, of principal and agent or of trustee and beneficiary. 

  
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 Schedule 1-Share Details 

(Clause 1.1) 

																	
	 Sellers

(registered holder)
	  	 Beneficial

owner
	 	  	
No. and class of
Shares
	 	  	 Paid-up

amount
	 	  	 Unpaid

amount
	 
	 Kilinwata Investments Pty. Ltd.
	  	 	Yes	 	  	 	750	 	  	$	0.75	 	  	 	Nil	 
	 Mi Ok Chong
	  	 	Yes	 	  	 	250	 	  	$	0.25	 	  	 	Nil	 

  
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 Schedule 2-Corporate Details 

(Clause 1.1) 
 Details of the Company 

 

			
	 Name:
	  	Glioblast Pty Ltd
		
	 ACN:
	  	612 141 625
		
	 Registered Office:
	  	Unit 101, 50 McLachlan Avenue, Rushcutters Bay NSW 2011
		
	 Date and place of incorporation:  
	  	2 May 2016, New South Wales
		
	 Issued capital:
	  	$1
		
	 Directors:
	  	Deborah Anne Coleman
		
	 Secretary:
	  	None appointed
		
	 Public Officer:
	  	None appointed

  
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 Schedule 3 - Conditions to Completion 

(clause 3.1) 
  

			
	 Condition
	  	 Party entitled to
benefit

	1.      Execution of the Licence Agreement by the Buyer and by Genentech, Inc	  	The Buyer
		
	2.      Completion of Buyer due diligence into the Company	  	The Buyer
		
	3.      All consents and waivers the Buyer deems necessary or relevant for the sale and purchase of the Shares, the Buyer and/or its nominee(s) to be registered as holder of any and all of the Shares
and all other applicable transactions contemplated by this Agreement to take place in accordance with the terms of this Agreement and without breaching any Law or agreement are granted and received, or if only granted subject to conditions, such
conditions being satisfactory to the Buyer in its sole and absolute discretion	  	The Buyer
		
	4.      The Company obtains all necessary consents (on terms and conditions in all respects satisfactory to the Buyer) all third party consents, licences, approvals, authorisations or waivers
required for the acquisition of the Shares	  	The Buyer
		
	5.      All consents, waivers and approvals (including shareholder approvals) required by Law (including the ASX Listing Rules) and the Buyer’s constitution with respect to the issue of the
Completion Shares and Milestone Consideration to the Sellers are obtained on terms reasonably satisfactory to the Buyer	  	The Buyer
		
	6.      Replacement of the Company’s constitution with a form of constitution approved by the Buyer	  	The Buyer
		
	7.      Appointment of Paul Hopper as a consultant to the Buyer on the terms of the Hopper Appointment Agreement	  	The Buyer
		
	8.      Appointment of Mi Ok Chong as a consultant to the Buyer on the terms of the Chong Appointment Agreement	  	The Buyer

  
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 Schedule 4 - The Sellers’ Warranties 

(Clause 11) 
  

	1.	The Sellers’ authority to sell 

  

	 	(a)	The Sellers are the registered holder and beneficial owner of the Shares and such shares are all of the issued shares in the capital of the Company. 

 

	 	(b)	The Shares are not subject to any Encumbrance in favour of any person or company. 

  

	 	(c)	Kilinwata Investments Pty. Ltd. and the Company are both validly existing under the Law of their place of incorporation. 

  

	 	(d)	Each of the Sellers and the Company has the power to enter into and perform its obligations under this Agreement and to carry out the transactions contemplated by this Agreement. 

 

	 	(e)	Each of the Sellers and the Company has taken all necessary action to authorise its entry into and performance of this Agreement and to carry out the transactions contemplated by this Agreement. 

 

	 	(f)	The obligations of the Sellers and the Company under this Agreement are valid and binding and enforceable against the Sellers and the Company (respectively) in accordance with their terms. 

 

	2.	The Company 

  

	 	(a)	The Company has full corporate power to own its properties, assets and business and to carry on its business as now conducted. 

  

	 	(b)	The Company does not hold or beneficially own shares or other securities in the capital of another corporation. 

  

	 	(c)	The Company has not bought or agreed to buy any securities in another corporation. 

  

	 	(d)	The Company is not, and has not agreed to become, a member of any partnership, unincorporated association, joint venture or consortium. 

 

	 	(e)	No meeting has been convened, resolution proposed, petition presented or order made for the winding up of the Company and no receiver, receiver and manager, provisional liquidator, liquidator, administrator or other
officer of the court has been appointed or threatened to be appointed in relation to the Company or any part of its undertaking or assets. 

  

	3.	Share capital of the Company 

  

	 	(a)	The Shares: 

  

	 	(i)	as set out in Schedule 1 comprise all of the share capital of the Company; 

  

	 	(ii)	are held and beneficially owned and are paid as set out in Schedule 1; and 

  

	 	(iii)	were all properly issued. 

  

	 	(b)	There is no restriction on the sale or transfer of the Shares to the Buyer (whether contained in the constitution of the Company or otherwise) except for the consent of the directors of the Company to the registration
of the transfers of the Shares. 

  

	 	(c)	There are no securities convertible into shares of the Company. 

  
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	 	(d)	There are no options or other entitlements of any kind over any shares of the Company or to have shares in the Company issued. 

  

	 	(e)	There are no restrictions on the transfer of any Shares (including any rights of pre-emption exercisable by any person) or on the effective change of control of the Company as a
result of the transactions contemplated by this Agreement. 

  

	4.	Information 

  

	 	(a)	The information set out in this Agreement is true, accurate and not misleading or deceptive (whether by omission or otherwise) in any material respect. 

 

	 	(b)	A true and correct copy of the constitution of the Company will be provided to the Buyer on Completion. 

  

	 	(c)	All information which the Seller Warrantors, the Company or any of their respective employees, agents or advisers have given before the date of this Agreement to the Buyer or its advisers relating to the Business, the
activities, affairs, assets and Liabilities of the Company and the subject matter of this Agreement was prepared with reasonable care and is, and was when given, complete and accurate in all material respects. 

 

	 	(d)	All information that is: 

  

	 	(i)	known to the Seller Warrantors relating to the Shares, the Company, the Business or otherwise relevant to the subject matter of this Agreement; and 

 

	 	(ii)	material to a buyer of the Shares, 

 has been fully and fairly disclosed in writing to the Buyer
before the date of this Agreement. 
  

	 	(e)	The Seller Warrantors have not withheld from providing to the Buyer before the date of this Agreement any information that is material to or would reasonably be required for the purpose of making an informed assessment
of the assets and liabilities, financial position and performance of the Company or would otherwise have a material adverse effect on the value of the Business or the Shares. 

 

	5.	Financial statements 

  

	 	(a)	The Accounts disclose a true and fair view of the affairs, financial position and assets and liabilities of the Company as at the Accounts Date and of the income, expenses, results of operations and cash flow of the
Company. 

  

	 	(b)	The Accounts were prepared in accordance with the Accounting Standards, the requirements of the Corporations Act and all other applicable Laws. 

 

	 	(c)	The Accounts contain proper and adequate provision for and full disclosure of all liabilities of the Company as at the Accounts Date. 

 

	 	(d)	All financial arrangements of or relating to the Company and the Business are fully and accurately reflected in the Accounts. 

  

	 	(e)	Any budget, forecast or projection relating to the Company provided to the Buyer by or on behalf of the Sellers before the date of this Agreement, has been prepared carefully, on a reasonable basis and is arithmetically
correct, and there are no facts or circumstances known to the Sellers which would cause a prudent manager to change the budget, forecast or projection. 

  

	 	(f)	The income and profits of the Company disclosed in the Accounts have not resulted from: 

  
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	 	(i)	transactions entered into other than on normal commercial terms; 

  

	 	(ii)	other factors rendering the profits for the relevant period abnormally high. 

  

	 	(g)	The Accounts are not affected by any unusual, abnormal, extraordinary, exceptional or non-recurring items. 

 

	 	(h)	Since the Accounts Date there has been no material change in the assets, liabilities, turnover, earnings, financial condition, trading position or affairs of the Company. 

 

	6.	No operation 

  

	 	(a)	No dividend or distribution of capital or income has been declared, made or paid in respect of any capital of the Company, whether of cash, specific assets or otherwise. 

 

	 	(b)	The Company has conducted its internal affairs with all reasonable care and in accordance with normal and prudent practice (having regard to the nature of the Business and past practice and so as to comply with all
applicable Laws). 

  

	 	(c)	The Company has not entered into any material contracts or arrangements, or terminated or altered any term of any material contracts or arrangements, other than in accordance with this Agreement. 

 

	 	(d)	The Company has no turnovers or earnings and has not incurred or undertaken any material Liabilities or obligations (actual or contingent), including Taxation. 

 

	 	(e)	The Company has not acquired or disposed of or dealt with any assets nor has it entered into any agreement or option to acquire or dispose of any assets. 

 

	 	(f)	Since the Agreement Date, the rights attaching to any shares in the Company have not altered and no alteration has been made to the capital structure of the Company. 

 

	 	(g)	No loans have been made or bonuses paid by the Company to any person. 

  

	 	(h)	The Company has not issued, agreed to issue or granted any option to issue any equity or loan securities or any security convertible into any such securities. 

 

	 	(i)	Other than the Shares, the Company has not issued any shares, or options to take up unissued shares, in the capital of the Company. 

  

	 	(j)	No resolutions have been passed by the members or directors of the Company except in the ordinary course of the Business and those necessary to give effect to this Agreement. 

 

	7.	Liabilities and commitments 

  

	 	(a)	The Company has not borrowed money, increased the amount of existing borrowings or drawn on any credit lines other than under existing credit facilities. 

 

	 	(b)	The Company has not granted or created any Encumbrance over the Shares or any of its assets or inventory. 

  

	 	(c)	The Company has not provided any guarantee or other security to any Third Party. 

  

	 	(d)	No Sellers’ Guarantees have been provided to any Third Party. 

  

	 	(e)	The Company does not have any material commitments or unusual Liabilities that are not disclosed in the Accounts. 

  

	 	(f)	The Company does not owe any money or have any outstanding liability to the Sellers. 

  
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	 	(g)	No Sellers nor any Related Entity of any Sellers owes, or will owe at Completion, any money, or has any outstanding liability, to the Company. 

 

	 	(h)	The Company is not directly or indirectly obliged in any way to guarantee, assume or provide funds to satisfy any obligation of any person, and has not given a letter of comfort to any person. 

 

	 	(i)	No offer, tender or quotation given or made by the Company is capable of giving rise to a contract merely by any unilateral act of a Third Party. 

 

	 	(j)	The transfer of the Shares in accordance with this Agreement does not and will not constitute a breach of any obligation (including any statutory, contractual or fiduciary obligation), or default under any agreement or
undertaking, by which the Company is or may become bound. 

  

	 	(k)	There are no outstanding commitments of the Company for capital expenditure. 

  

	 	(l)	The Company is not party to any agreement in terms of which it is, or will be, bound to share its profits or pay any royalties. 

  

	 	(m)	There are no debts owed to or accounts receivable of the Company at Completion. 

  

	8.	Records 

 The Records of the Company: 

 

	 	(a)	are in the possession or under the control of the Company; 

  

	 	(b)	have been fully, properly and accurately kept and maintained and are up to date; 

  

	 	(c)	accurately record the details of all of the transactions, finances, assets and liabilities of the Company; and 

  

	 	(d)	as far as necessary, have been prepared in accordance with the requirements of the Corporations Act and the Accounting Standards. 

  

	9.	Taxation 

  

	 	(a)	All Tax and other revenue returns, including income tax, fringe benefits tax, payroll tax, superannuation guarantee, land tax, rates, customs duty, franking account returns and business activity statements (Returns)
lodged by the Company: 

  

	 	(i)	have been lodged by the due date for filing those Returns, and no Returns remain un-lodged; 

  

	 	(ii)	have been made taking reasonable care and with full and true disclosure; and 

  

	 	(iii)	do not contain any statement that is false or misleading, whether by omission or otherwise. 

  

	 	(b)	All assessments, whether original or amended, made by a Government Agency in respect of the Company and all Returns of the Company accurately reflect any Liability for Tax of the Company for the period to which the
assessment or Return relates. 

  

	 	(c)	All notices and elections required to be given or made by the Company have been given or made by the Company and support the position taken in the Returns. 

  
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	 	(d)	All information required to be retained under any relevant Tax legislation is currently held by the Company, including any information that may be required to calculate or verify the adjustable value and any capital
gain or loss on disposal of any asset held at Completion. 

  

	 	(e)	The Company has paid all Taxes which the Company is liable to pay prior to Completion and the Accounts fully provide for, all Taxes which the Company is or may become liable to pay for the period up to and including the
Completion Date. 

  

	 	(f)	The Company will have no liability in respect of unpaid or unassessed Taxes referrable to any time before Completion in excess of the provision for Tax in the Accounts. 

 

	 	(g)	There is no difference between the amounts incurred for acquisition, improvements and incidental costs of acquisition of any Company assets and their cost base for Tax purposes. 

 

	 	(h)	The costs bases of the Company’s assets have not been reduced from the amounts of money actually incurred for acquisition, improvements and incidental costs of acquisition on account of: 

 

	 	(i)	any transfers of assets; 

  

	 	(ii)	any transfers of losses; 

  

	 	(iii)	any forgiveness of debt;or 

  

	 	(iv)	any transactions which shift value. 

  

	 	(i)	The Company is not involved in any audit by a Government Agency or aware of any pending audit of any of its Returns or its Tax affairs and there are no outstanding disputes, questions or demands as between the Company
and any Government Agency relating to a Tax matter. The Sellers are not aware of any circumstances that may give rise to such audit or dispute. 

  

	 	(j)	Complete copies of all rulings, private binding rulings, advices, consents and clearances (Rulings) affecting the Company from any Government Agency have been supplied to the Buyer, and any transactions carried into
effect in reliance on any of those Rulings have been implemented in the manner disclosed in the application for it. 

  

	 	(k)	The Company has not taken any action which has or might alter or prejudice any arrangement or Ruling which has previously been negotiated with or obtained from the relevant Government Agency under any Tax Law.

  

	 	(l)	The Company has not acted otherwise than in accordance with any advance opinion or private binding ruling issued to it by any Government Agency and has otherwise taken “reasonable care” and adopted
“reasonably arguable positions” (within the meaning of those terms in the Tax Act) in relation to its liability to Tax. 

  

	 	(m)	The Company has not participated in schemes or transactions or made any payments to which Part IVA, section 82KK or section 82KL of the Tax Act applies or might apply. 

 

	 	(n)	The Company has not participated in: 

  

	 	(i)	any dividend stripping or dividend or capital streaming or franking credit trading schemes (or schemes of substantially the same effect) within the meaning of the Tax Act or which are subject to the operation of
sections 45 to 45D, former sections 46B, and 160AQCBA and section 177E or 177EA of the Tax Act; or 

  
 Confidential material
omitted and filed separately with the Commission. 

  
 50 

	 	(ii)	any scheme or arrangement within the meaning of Division 204 of Part 3-6 of the Tax Act to exploit the benchmark franking percentage of another entity, stream franked
distributions or tax-exempt bonus shares or stream distributions to shareholders or former shareholders of the Company that derive greater benefit from franking credits than other shareholders or former
shareholders, and nor will the sale itself, or in conjunction with other events before Completion, constitute such a scheme. 

  

	 	(o)	No dividend has been paid by the Company: 

  

	 	(i)	in respect of which the franking amount has exceeded the benchmark franking percentage or the maximum franking credit within the meaning of Part 3-6 of the Tax Act; or

  

	 	(ii)	in respect of which an application has been made to the Commissioner of Taxation for permission to depart from the benchmark franking percentage within the meaning of Part 3-6 of
the Tax Act. 

  

	 	(p)	The Company has provided, or will provide before Completion, distribution statements within the meaning of section 202-80 of the Tax Act to shareholders in respect of all
dividends paid by the Company before Completion. 

  

	 	(q)	The Company does not hold any assets to which Subdivision 104-J of the Tax Act may apply. 

  

	 	(r)	Nothing has occurred to cause a disallowance of carried forward income or capital losses of the Company as at Completion (other than the transfer of Shares as contemplated by this Agreement). 

 

	 	(s)	The Company has not been required to reduce losses or the tax attributes of assets (for capital allowances purposes or capital gains tax purposes) as contemplated by Division 245 of Schedule 2C of the Tax Act.

  

	 	(t)	The share capital account of the Company is not tainted within the meaning of section 197-50 of the T ax Act. 

 

	 	(u)	All amounts of Tax required by Law to be deducted by the Company from the salary or wages of employees, servants and agents or payments to contractors have been deducted and remitted to the relevant Government Agency
within the time allowed by the relevant Tax Law. 

  

	 	(v)	Any withholding tax that is required to be withheld from any payment made by the Company has been duly withheld and remitted to the relevant Government Agency within the time allowed by the relevant Tax Law and the
Company has not been a party to a scheme to which section 177CA of the Tax Act applies. 

  

	 	(w)	The Company has not entered into a transaction or arrangement that attracts the operation of any of section 108, section 109 or the provisions of Division 7A of the Tax Act. 

 

	 	(x)	Subject to the Company satisfying the conditions in Subdivision 165-C of the Tax Act, a bad debt deduction will be available in respect of the write off of any trade debts shown
in the Accounts which have not previously been written off. 

  

	 	(y)	The Company has not entered into any arrangement that: 

  

	 	(i)	will give rise to any adjustment to its taxable income as a result of the operation of the provisions in Division 13 of Part III of the Tax Act; or 

 

	 	(ii)	results in it obtaining a “transfer pricing benefit” as that term is defined in Division 815 of the Tax Act 

  
 Confidential material
omitted and filed separately with the Commission. 

  
 51 

	 	(z)	The Company is not and will not become liable to pay, reimburse or indemnify any person in respect of any Tax relating to an act or omission occurring before Completion or because of the failure of that other person to
discharge the Tax Liability. 

  

	 	(aa)	The Company has not issued or created any: 

  

	 	(i)	non-share equity interest (as defined in section 995-1 of the Tax Act); or 

 

	 	(ii)	non-equity share (as defined in section 6(1) of the Tax Act). 

  

	 	(bb)	The Company has valued trading stock using an accepted methodology under Subdivision 70-C of the Tax Act. 

 

	 	(cc)	The Company is not a member of a Consolidated Group (as defined in section 703-5 of the Tax Act) and the Sellers will not form, and will procure that no Related Body Corporate
forms, a Consolidated Group including the Company, whether before or after the date of this Agreement. 

  

	10.	GST 

  

	 	(a)	In this warranty 10: 

  

	 	(i)	expressions which are not defined, but which have a defined meaning in GST Law, have the same meaning; and 

  

	 	(ii)	GST Law has the meaning given to that expression in the A New Tax System (Goods and Services Tax) Act 1999 (Cth). 

  

	 	(b)	The Company is not: 

  

	 	(i)	a member of any GST group, GST joint venture or partnership; or 

  

	 	(ii)	liable to pay GST in respect of supplies made by any other entity. 

  

	 	(c)	The Company has not participated in any schemes or transactions or made any payments to which Division 165 of the A New Tax System (Goods and Services Tax) Act 1999 (Cth) applies or might apply.

  

	 	(d)	The Company has not lodged any Business Activity Statements. 

  

	11.	Stamp Duty 

  

	 	(a)	All Stamp Duty arising under a Tax Law in relation to any transaction or document to which the Company is or has been a party or by which the Company derives, or has or will derive, a benefit has been paid or will be
paid before Completion in accordance with the relevant Tax Law (irrespective of whether the Company or a Third Party is liable for that Stamp Duty). 

  

	 	(b)	The Company has not been a party to a transaction or document with a Related Body Corporate of the Company (or an entity that was a Related Body Corporate of the Company at the time) in the 6 years preceding Completion
that would have been liable to Stamp Duty under a Tax Law but for relief granted in writing by a Government Agency. 

  

	 	(c)	No liability for Stamp Duty will be triggered in respect of events occurring before Completion as a result of any change of ownership or control on Completion. 

  
 Confidential material
omitted and filed separately with the Commission. 

  
 52 

	12.	Non-resident CGT withholding 

 The Buyer is not required
under a Tax Law to withhold any amount otherwise payable to the Sellers under this Agreement for remittance to the Commissioner of Taxation as a foreign resident capital gains withholding payment under subsection
14-200(3) of Schedule 1 of the Tax Act. 
  

	13.	Plant and Equipment 

  

	 	(a)	The Company does not and will not on Completion own, lease, licence or use any plant, equipment (including computer equipment), motor vehicles, machinery, furniture, fixtures and fittings. 

 

	 	(b)	The Company has not entered into any hire purchase, leasing or credit sale agreement in respect of, and has not sold or agreed to sell, any items of plant, equipment (including computer equipment), motor vehicles,
machinery, furniture, fixtures and fittings. 

  

	 	(c)	The Company does not use any computer hardware of software whether owned by or licensed to the Company. 

  

	 	(d)	All Records of the Company stored by electronic means have been provided to the Buyer in a downloadable form which the Buyer may access without specialised software. 

 

	 	(e)	The Company does not, and will not on Completion hold or own any stock of finished goods, including packaging. 

  

	14.	Real Property 

  

	 	(a)	The Company does not and will not on Completion own, occupy, lease or licence any real property. 

  

	 	(b)	The Company does not owe any rent, rates, Taxes (including land tax), outgoings, levies and contributions with respect to any real property. 

 

	15.	Insurance 

  

	 	(a)	The Company has not entered into any contract under which the Company or its officers are an insured party (including in respect of directors indemnity insurance or workers’ compensation insurance) (Insurance
Contract). 

  

	 	(b)	There are no outstanding claims or insurance premiums payable under any Insurance Contracts. 

  

	16.	Intellectual Property Rights 

  

	 	(a)	The Company does not own, use or require in the Business any business names, trade marks, service marks, trade names, copyright, patents, patent applications, confidential information or other Intellectual Property
Rights. 

  

	 	(b)	The Company has not dealt with or granted to any person any rights in respect of any Intellectual Property Rights by way of licence or in any other way. 

 

	 	(c)	The Company has not infringed the Intellectual Property Rights of any other person. 

  

	 	(d)	The Sellers are not aware of any allegation or basis on which an allegation could be made that the Company has infringed the Intellectual Property Rights of any person. 

 

	 	(e)	There are no royalties, licence fees or other similar fees payable by the Company in connection with the use of any Intellectual Property Rights. 

  
 Confidential material
omitted and filed separately with the Commission. 

  
 53 

	17.	Contracts and commercial matters 

  

	 	(a)	The Company has not entered into or is not bound by any contract, arrangement or understanding with a Third Party that has not been fully and fairly disclosed in writing to the Buyer. 

 

	 	(b)	No employee or director of the Company has entered into or agreed to be bound by a contract, arrangement or understanding with a Third Party purportedly on behalf of the Company, in circumstances where the employee or
director has acted wrongfully, against the intention or instructions of the Company or otherwise outside the scope of his or her authority. 

  

	 	(c)	The Company has not made any offer, tender or quotation made which is outstanding and capable of acceptance by a Third Party. 

  

	18.	Defective products 

 The Company has not manufactured, sold or supplied any products or services
that: 
  

	 	(a)	are or were or will become faulty or defective in any material respect; or 

  

	 	(b)	do not comply, in any material respect, with any warranties or representations expressly or impliedly made or given by the Company or with all applicable regulations, standards and requirements. 

 

	19.	Compliance with applicable Laws 

  

	 	(a)	The Company has at all times complied with all Laws, including all: 

  

	 	(i)	planning Laws, agreements and permits; 

  

	 	(ii)	employment and industrial relations Laws and agreements; 

  

	 	(iii)	occupational health and safety Laws; and 

  

	 	(iv)	Environmental Laws, 

  

	 	 	and no contravention or allegation of any contravention of any applicable Law is known to the Sellers. 

  

	 	(b)	As far as the Seller Warrantors are aware: 

  

	 	(i)	there is no fact or matter that might prejudice the continuance or renewal, or result in the revocation or variation in any material respect, of any statutory permit or licence; and 

 

	 	(ii)	the Company is not being investigated for any breach or alleged breach of any Law. 

  

	 	(c)	The Company has not received any notice that any statutory permit or licence will be revoked, suspended, modified or will not be renewed. 

 

	20.	Litigation 

  

	 	(a)	Neither the Company nor any person for whose acts or defaults the Company may be vicariously liable is involved in, or threatened with, any Claim in any court, tribunal or otherwise and there are no facts or
circumstances likely to give rise to any such Claim. 

  

	 	(b)	There are no unsatisfied Claims against the Company. 

  
 Confidential material
omitted and filed separately with the Commission. 

  
 54 

	 	(c)	There are no facts or circumstances known to the Sellers that may result in a material industrial dispute between the Company and any third party and no material pay claims have been made, or are likely to be made,
against it. 

  

	21.	Employees, officers and sub-contractors 

  

	 	(a)	The Company has not engaged: 

  

	 	(i)	any employees whether current or in the past; or 

  

	 	(ii)	consultants or contractors to provide services to the Company, whether current or in the past. 

  

	 	(b)	The Company does not operate any bonus, profit share or employee incentive plans or schemes for its employees or officers. 

  

	 	(c)	No money is payable to any director of the Company and the Company is not under any present, future or contingent liability to pay compensation for loss of office or employment to any
ex-officer. 

  

	 	(d)	Since the Agreement Date, no remuneration or fees have been paid or agreed by the Company to be paid to any director of the Company. 

 

	22.	Superannuation 

 As at Completion, the Company has no employer superannuation obligations in
respect of any person. 
  

	23.	Effect of sale of Shares 

 The entry into and performance of this Agreement does not and will
not: 
  

	 	(a)	result in the breach of any of the terms, conditions or provisions of any agreement or arrangement to which the Company is a party; 

  

	 	(b)	relieve any person from any obligation to the Company; 

  

	 	(c)	result in the creation, imposition, crystallisation or enforcement of any Encumbrance on the Company or any of its assets; or 

  

	 	(d)	result in any indebtedness of the Company becoming due and payable. 

  

	24.	Delegations and finder’s fees 

  

	 	(a)	No power of attorney given by the Company will be in force after Completion. 

  

	 	(b)	Neither the Sellers nor the Company has taken any action under which                      any person is or may be
entitled to a finder’s fee, brokerage or commission in connection with the acquisition of the Shares under this Agreement 

  
 Confidential material
omitted and filed separately with the Commission. 

  
 55 

 Executed as a deed 
  

	Sellers	

 Executed by Kilinwata Investments Pty. Ltd. 

ACN 009 641 212 in accordance with its constitution: 

	
	Signature of sole director
	
	Name (please print)

 Signed Sealed and Delivered by Mi Ok Chong in the presence of: 

	
	 /s/ Mi Ok Chong

	Signature

 Signature of witness 

Name of witness 
 (please
print) 
  

	
	Address of witness
	(please print)

  
 Confidential material
omitted and filed separately with the Commission. 

  
 56 

 Warrantor 
  

			
	Signed Sealed and Delivered by Paul Hopper in the presence of:	 	
		
		 	 /s/ Paul Hopper

	Signature of witness	 	Signature
		
	 Name of witness

(please print)
	 	
		 	
	 Buyer
	 	
	 101/50 McLachlan Ave, Rushcutters Bay
	 	
	Address of witness	 	
	(please print)	 	
	Executed by Novogen Limited ACN 063 259 754 in accordance with section 127(1) of the Corporations Act 2001 (Cth):	 	
	*-----DocuSigned by:	 	
		
	 /s/ James Garner
	 	DocuSigned by:
	Signature of director	 	 /s/ Kate Hill

		 	Name (please print)
		
	James Garner	 	 Signature of director or company

secretary*

	Name (please print)	 	*delete whichever does not apply
		
	31 OCT 2016	 	Kate Hill

  
 Confidential material
omitted and filed separately with the Commission. 

  
 57 

 EXHIBIT A 

LICENSED PATENT RIGHTS 
  

							
	 Country
	  	 Patent Number
	  	 Application Number
	  	 Status

	Argentina	  		  	P110104706	  	Filed
				
	Austria	  	E696957	  	11808454.0	  	Granted
				
	Australia	  	2011343712	  	2011343712	  	Granted
				
	Australia	  		  	2015268776	  	Filed
				
	Belgium	  	2651951	  	11808454.0	  	Granted
				
	Bulgaria	  	2651951	  	11808454.0	  	Granted
				
	Brazil	  		  	BR112013014914-0	  	Filed
				
	Canada	  		  	2820078	  	Filed
				
	Switzerland	  	2651951	  	11808454.0	  	Granted
				
	Chile	  		  	01093-2013	  	Filed
				
	China P.R.	  	ZL201180060597.3	  	201180060597.3	  	Granted
				
	China P.R.	  		  	201610206179.5	  	Filed
				
	Colombia	  	5835	  	13-105848	  	Granted
				
	Costa Rica	  		  	2013-0247	  	Filed
				
	Cyprus	  	2651951	  	11808454.0	  	Granted
				
	Czech Republic	  	2651951	  	11808454.0	  	Granted
				
	Germany	  	602011011639.8	  	11808454.0	  	Granted
				
	Denmark	  	2651951	  	11808454.0	  	Granted
				
	Algeria	  	8698	  	130447	  	Granted
				
	Eurasian Patent Convention	  		  	201390879	  	Filed
				
	Ecuador	  		  	SP-2013-12692	  	Filed
				
	Estonia	  	2651951	  	11808454.0	  	Granted
				
	Egypt	  		  	PCT1034/2013	  	Filed
				
	European Patent Convention	  	2651951	  	11808454.0	  	Granted
				
	European Patent Convention	  	2813506	  	14177962.9	  	Granted

  

Confidential material omitted and filed separately with the Commission. 

							
	 Country
	  	 Patent Number
	  	 Application Number
	  	 Status

	European Patent Convention	  		  	16151410.4	  	Filed
				
	Spain	  	2651951	  	11808454.0	  	Granted
				
	Finland	  	2651951	  	11808454.0	  	Granted
				
	France	  	2651951	  	11808454.0	  	Granted
				
	Great Britain	  	2651951	  	11808454.0	  	Granted
				
	 Gulf Cooperation
 Council
	  		  	GC2011-20037	  	Filed
				
	Greece	  	3085435	  	11808454.0	  	Granted
				
	Hong Kong	  		  	13113223.7	  	Filed
				
	Croatia	  	P20150127	  	11808454.0	  	Granted
				
	Hungary	  	2651951	  	11808454.0	  	Granted
				
	Indonesia	  		  	W-00201302646	  	Filed
				
	Ireland	  	2651951	  	11808454.0	  	Granted
				
	Israel	  		  	225778	  	Filed
				
	India	  		  	4538/CHENP/2013	  	Filed
				
	Italy	  	2651951	  	502015902331728	  	Granted
				
	Japan	  	5775171	  	2013-544769	  	Granted
				
	Republic of Korea	  	10-1548439	  	2013-7018489	  	Granted
				
	Republic of Korea	  		  	2014-7020819	  	Filed
				
	Lithuania	  	2651951	  	11808454.0	  	Granted
				
	Luxembourg	  	2651951	  	11808454.0	  	Granted
				
	Latvia	  	2651951	  	11808454.0	  	Granted
				
	Morocco	  	35795	  	36026	  	Granted
				
	Monaco	  	2651951	  	11808454.0	  	Granted
				
	Malta	  	2651951	  	11808454.0	  	Granted
				
	Mexico	  	335308	  	MX/A/2013/006858	  	Granted
				
	Malaysia	  		  	PI2013701009	  	Filed
				
	Netherlands	  	2651951	  	11808454.0	  	Granted
				
	Norway	  	EP2651951	  	11808454.0	  	Granted
				
	New Zealand	  	609448	  	609448	  	Granted
				
	Peru	  		  	1418.2013	  	Filed

  

Confidential material omitted and filed separately with the Commission. 

							
	 Country
	  	 Patent Number
	  	 Application Number
	  	 Status

	Philippines	  	1-2013-501243	  	1-2013-501243	  	Granted
				
	Poland	  	2651951	  	11808454.0	  	Granted
				
	Portugal	  	2651951	  	11808454.0	  	Granted
				
	Romania	  	2651951	  	11808454.0	  	Granted
				
	Republic of Serbia	  	53768	  	P-2015/0034	  	Granted
				
	Sweden	  	2651951	  	11808454.0	  	Granted
				
	Singapore	  	190890	  	201304056-3	  	Granted
				
	Singapore	  		  	10201510347Q	  	Filed
				
	Slovenia	  	2651951	  	11808454.0	  	Granted
				
	Slovak Republic	  	2651951	  	11808454.0	  	Granted
				
	Thailand	  		  	1301003262	  	Filed
				
	Turkey	  	TR201501621T4	  	11808454.0	  	Granted
				
	Taiwan	  	I441824	  	100146570	  	Granted
				
	Taiwan	  		  	103111141	  	Inactive
				
	Ukraine	  	109688	  	A201308951	  	Granted
				
	United States	  		  	61/423694	  	Inactive
				
	United States	  	8883799	  	13/326524	  	Granted
				
	United States	  		  	14/524204	  	Filed
				
	United States	  		  	61/423,694	  	Inactive
				
	United States	  		  	62/268,149	  	Filed
				
	United States	  		  	62/288,832	  	Filed
				
	United States	  		  	62/291,248	  	Filed
				
	Venezuela	  		  	1773-11	  	Filed
				
	Vietnam	  		  	1-2013-02191	  	Filed
				
	 Patent Cooperation
 Treaty
	  		  	 PCT/US2011/065101
 (WO2012/082997)
	  	Inactive
				
	South Africa	  	2013/04128	  	2013/04128	  	Granted

  
 Confidential material omitted and filed
separately with the Commission. 

 EXHIBIT B 

STRUCTURE OF GDC-0084 
  

 
 5-(6,6-dimethyl-4-morpholino-8,9-dihydro-6H-[1,4]oxazino[3,4-e]purin-2-yl)pyrimidin-2- amine 

 
 Confidential material omitted and filed separately with the Commission.

  

 EXHIBIT C 

TECHNOLOGY TRANSFER PLAN 
 Genentech shall
provide the following materials and information to Novogen within three (3) months following the Effective Date: 
 Clinical Sciences: 

XXXXX 
 Regulatory 

XXXXX 
 Research 

XXXXX 
 IP/Legal 

XXXXX 
 CMC 

XXXXX 
 45 kg of API 

XXXXX 
 API to be shipped within ten (10) days of
receipt of upfront payment by Genentech. 
  
 Confidential
material omitted and filed separately with the Commission. 

 Drug Product 

XXXXX 
 XXXXX 

 
 Confidential material omitted and filed separately with the Commission.

 EXHIBIT D 

Novogen Clinical Study Design 

Preliminary, and Subject to Consultation with Regulatory Agencies and Key Opinion Leaders 

 

			
	

	  	 CLINICAL TRIAL
PROTOCOL CONCEPT
  
 Proposed Phase II Study of
GDC-0084 in Glioblastoma Multiforme

  

	I.	STUDY OBJECTIVE 

 This study is intended to demonstrate safety and efficacy of
GDC-0084 in the treatment of glioblastoma multiforme (GBM) in the adjuvant setting, following surgical resection and radiotherapy. 

The study is designed to maximise the potential for accelerated approval of the product following completion. 

 

	II.	STUDY POPULATION 

 All subjects will have a histologically-confirmed diagnosis of GBM (WHO Grade IV), and an
unmethylated MGMT status, as confirmed by PCR or alternative genomic analysis. Prior to study entry, subjects will have had optimal surgical resection and subsequent treatment with radiotherapy and temozolomide, in accordance with the ‘Stupp
regimen’. Subjects who have had disease progression or recurrence subsequent to radiotherapy treatment will not be eligible. 
 Other
eligibility criteria will be as commonly deployed for oncology studies. Both male and female subjects will be recruited. 
  

	III.	STUDY DESIGN 

 The study is a multicentre, two-arm, randomised,
double-blind clinical trial, using temozolomide as an active comparator. 
 Following completion of radiotherapy treatment according to the
‘Stupp regimen’, subjects will be assigned to one of two treatment groups, in a 1:1 ratio. The first group will receive temozolomide, in accordance with the labelled dose and schedule. The second group will receive GDC-0084 at a dose of 45mg, once daily. 
  

	IV.	ENDPOINTS 

 Primary Endpoint Progression-Free Survival (PFS) 

Secondary Endpoints Overall Survival (OS) 

  
 Confidential material
omitted and filed separately with the Commission. 

  
 D-1 

 Safety and Tolerability Pharmacokinetics 

Exploratory Endpoints 
 Biomarkers (as predictors
of response) 
 Exploratory Imaging 
 Neurological
and Behavioural Instruments (MDASI-BT, neuro-cognitive tests, etc.) 
 Quality of Life (HRQoL) 

 

	V.	STATISTICAL CONSIDERATIONS 

 Sample Size 

It is expected that approximately 160 subjects will be recruited to the study (80 subjects in each of two arms). Subjects may be stratified according to the
Karnofsky Performance Status (KPS) and age. 

  
 Confidential material
omitted and filed separately with the Commission. 

  
 D-2 

 EXHIBIT F 

PROPOSED PUBLICATIONS 
 1: Clinical
Pharmacokinetics and Brain Penetration of GDC-0084, an Oral PI3K/mTOR Inhibitor, in Patients with High-Grade Glioma 

Status: Draft in preparation - submission by end of 2016 (Lead author Kari Morrissey) 

Poster presented at ASCPT meeting in March 2016, with the addition of the clinical imaging data from one subject. 

2. First-in-human Phase I study to evaluate the brain-penetrant PI3K/mTOR
inhibitor GDC-0084 in patients with progressive or recurrent high-grade glioma 
 Timothy Cloughesy,1 Patrick Y. Wen,2 Alan Olivero,1 Xuyang Lu,3 Lars Mueller,3 Alexandre Fernandez Coimbra,3 Elizabeth Gerstner,2 Jordi Rodon5 

Status: Draft in preparation 
 Poster presented at
ASCO 
  
  

	1 	CMC Article and a book chapter on the API synthesis - (Lead author Andy Stumf) 

 Status: Draft in
preparation 

  
 Confidential material
omitted and filed separately with the Commission. 

  
 D-3

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