Document:

LOCK-UP LETTER

 

July 9, 2012

 

Morgan Stanley & Co. LLC

1585 Broadway

New York, NY 10036

 

Ladies and Gentlemen:

 

The undersigned understands that Morgan
Stanley & Co. LLC (“Morgan Stanley”) proposes to enter into an Underwriting Agreement (the “Underwriting
Agreement”) with Synageva BioPharma Corp., a Delaware corporation (the “Company”), providing for the
public offering (the “Public Offering”) by the several Underwriters, including Morgan Stanley (the “Underwriter”),
of shares (the “Shares”) of the Company’s common stock, $0.001 par value per share (the “Common
Stock”).

 

To induce the Underwriters that
may participate in the Public Offering to continue their efforts in connection with the Public Offering, the undersigned
hereby agrees that, without the prior written consent of Morgan Stanley on behalf of the Underwriters, it will not, during
the period commencing on the date hereof and ending 90 days after the date of the final prospectus supplement relating to
the Public Offering (the “Prospectus”), (1) offer, pledge, sell, contract to sell, sell any option or
contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or
otherwise transfer or dispose of, directly or indirectly, any shares of Common Stock beneficially owned (as such term is used
in Rule 13d-3 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), by the undersigned
or any other securities so owned convertible into or exercisable or exchangeable for Common Stock or (2) enter into any swap
or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the
Common Stock, whether any such transaction described in clause(1) or (2) above is to be settled by delivery of Common Stock
or such other securities, in cash or otherwise. The foregoing sentence shall not apply to, (a) transfers of shares of Common
Stock or any security convertible into Common Stock as a bona fide gift, (b) distributions of shares of Common Stock
or any security convertible into Common Stock to limited partners or stockholders of the undersigned, (c) transfers of shares
of Common Stock or any security convertible into Common Stock to any trust for the direct or indirect benefit of
the undersigned or the immediate family of the undersigned, provided that any such transfer shall not involve a disposition
for value or (d) transfers of Common Stock pursuant to a trading plan established pursuant to Rule 10b5-1 under the Exchange
Act prior to the date hereof; provided that in the case of any transfer or distribution pursuant to clauses (a), (b)
or (c), (i) each donee, distributee or trustee shall sign and deliver a lock-up letter substantially in the form of this
letter and (ii) no filing under Section 16(a) of the Exchange Act, reporting a reduction in beneficial ownership of shares of
Common Stock, shall be required or shall be voluntarily made during the restricted period referred to in the foregoing
sentence. For purposes of this Lock-Up Agreement, “immediate family” shall mean any relationship by blood,
marriage or adoption, not more remote than first cousin and “owned” shall mean Common Stock which the
undersigned beneficially owns, expressly excluding Common Stock owned by 14159, L.P., 667, L.P., Baker Biotech Fund II(A),
L.P., Baker Bros. Investments, L.P., Baker Bros. Investments II, L.P., Baker Brothers Life Sciences. L.P. and Baker/Tisch
Investments, L.P. In addition, the undersigned agrees that, without the prior written consent of Morgan Stanley on behalf of
the Underwriters, it will not, during the period commencing on the date hereof and ending 90 days after the date of
the Prospectus, make any demand for or exercise any right with respect to, the registration of any shares of Common Stock
or any security convertible into or exercisable or exchangeable for Common Stock. The undersigned also agrees and consents
to the entry of stop transfer instructions with the Company’s transfer agent and registrar against the transfer of
the undersigned’s shares of Common Stock except in compliance with the foregoing restrictions.

 

[Lock-up Agreement]

 

    	 

    	 

    

 

If:

 

(1)          during
the last 17 days of the restricted period the Company issues an earnings release or material news or a material event relating
to the Company occurs; or

 

(2)          prior
to the expiration of the restricted period, the Company announces that it will release earnings results during the 16-day period
beginning on the last day of the restricted period;

 

the restrictions imposed by this agreement shall continue to
apply until the expiration of the 18-day period beginning on the issuance of the earnings release or the occurrence of the material
news or material event.

 

The undersigned shall not engage in any
transaction that may be restricted by this agreement during the 34-day period beginning on the last day of the initial restricted
period unless the undersigned requests and receives prior written confirmation from the Company or Morgan Stanley that the restrictions
imposed by this agreement have expired.

 

The undersigned understands that the Company
and the Underwriters are relying upon this agreement in proceeding toward consummation of the Public Offering. The undersigned
further understands that this agreement is irrevocable and shall be binding upon the undersigned’s heirs, legal representatives,
successors and assigns.

 

Whether or not the Public Offering actually
occurs depends on a number of factors, including market conditions. Any Public Offering will only be made pursuant to an Underwriting
Agreement, the terms of which are subject to negotiation between the Company and the Underwriters.

 

This agreement shall automatically terminate
upon the earliest to occur, if any, of: (1) either Morgan Stanley advising the Company in writing that the Underwriters have determined
not to proceed with the Public Offering, or the Company advising Morgan Stanley in writing that it has determined not to proceed
with the Public Offering, (2) termination of the Underwriting Agreement before the sale of any shares of Common Stock to the Underwriters
and (3) July 27, 2012, in the event that the Public Offering has not been consummated by that date.

 

    	- 2 -

    	 

    

 

	 	Very Truly Yours,
	 	 
	 	 
	 	(Name)
	 	 
	 	 
	 	(Address)

 

[Signature Page to Lock-up Agreement]Exhibit 10.1

                            ASSET PURCHASE AGREEMENT

THIS AGREEMENT dated the 30th day of November, 2011.

BETWEEN:

          JERVIS EXPLORATIONS INC.
          (the "Vendor")

                                                               OF THE FIRST PART

AND:

          LA PAZ MINING CORP.
          (the "Purchaser")

                                                              OF THE SECOND PART

WHEREAS:

A. The Vendor is the registered and beneficial  owner of various  mineral claims
(hereinafter the "CLAIMS"), collectively called BEE URANIUM PROPERTY. The Claims
of the Vendor are more  particularly  described in Schedule "A" attached  hereto
and forming part of this Agreement;

B. The Vendor has agreed to sell and the Purchaser has agreed to purchase all of
the Claims of the Vendor in accordance with the terms of this Agreement.

NOW THEREFORE THIS AGREEMENT  WITNESSES that in  consideration  of the terms and
covenants  herein and other good and  valuable  consideration,  the  receipt and
sufficiency  of which each  party  acknowledges,  the  parties  hereto  agree as
follows:

1.     PURCHASE AND SALE OF ASSETS

1.1    SALE OF ASSETS.  Subject to the terms and  conditions of this  Agreement,
       the Vendor hereby sells, assigns and transfers to the Purchaser,  and the
       Purchaser hereby purchases the Vendor's Claims.

1.2    PURCHASE PRICE. The purchase price payable by the Purchaser to the Vendor
       for the Vendor's Claims is USD $ 20,000 (the "PURCHASE  PRICE"),  subject
       to a carried 3% Net Smelter Royalty as described in Appendix "A".

1.3    PAYMENT OF THE PURCHASE  PRICE.  The  Purchase  Price will be paid by the
       delivery of a cheque.

1.4    DELIVERY OF CLAIMS.  The Vendor  delivers to the Purchaser,  on execution
       hereof,  all of the  Claims  unconditionally  and free  and  clear of all
       liens, charges, or encumbrances, except where disclosed.
<PAGE>
2.     COVENANTS OF THE PARTIES

2.1    COVENANTS.  The parties undertake to keep the information with respect to
       this  Agreement,  the  terms  herein,  and  any  related,  underlying  or
       subsequent  agreements  (the  "INFORMATION")   confidential  and  not  to
       directly or indirectly disclose the Information at any time to any person
       or persons or use the Information for any purpose whatsoever.

3.     REPRESENTATIONS OF THE VENDOR

3.1    REPRESENTATIONS.  The Vendor  represents and warrants to the Purchaser as
       follows,   with  the  intent  that  the   Purchaser   will  rely  on  the
       representations  in entering into this  Agreement,  and in concluding the
       purchase and sale contemplated by this Agreement:

          (a)  CAPACITY TO SELL. The original Vendor is JERVIS  EXPLORATION INC.
               having the power and  capacity  to own and  dispose of the Claims
               and to enter into this  Agreement  and carry out its terms to the
               full extent;

          (b)  AUTHORITY TO SELL. The execution and delivery of this  Agreement,
               and  the  completion  of the  transaction  contemplated  by  this
               Agreement  has been duly and validly  authorized by all necessary
               corporate  action on the part of the Vendor,  and this  Agreement
               constitutes a legal,  valid and binding  obligation of the Vendor
               enforceable  against  the  Vendor  in  accordance  with its terms
               except as may be limited by laws of general application affecting
               the rights of creditors;

          (c)  SALE WILL NOT CAUSE  DEFAULT.  Neither the execution and delivery
               of this  Agreement,  nor the  completion of the purchase and sale
               contemplated by this Agreement will:

               (i)  violate any of the terms and  provisions  of the  constating
                    documents or bylaws or articles of the Vendor, or any order,
                    decree, statute, bylaw,  regulation,  covenant,  restriction
                    applicable to the Vendor or the Claims;

               (ii) give any person the right to terminate,  cancel or otherwise
                    deal with the Claims; or

               (iii)result  in any fees,  duties,  taxes,  assessments  or other
                    amounts relating to the Claims becoming due or payable other
                    than tax payable by the  Purchaser  in  connection  with the
                    purchase and sale;

          (d)  ENCUMBRANCES.  The  Vendor  owns  and  possesses  and  has a good
               marketable  title  to the  Claims  free and  clear  of all  legal

                                       2
<PAGE>
               claims,  mortgages,  liens, charges,  pledges, security interest,
               encumbrances or other claims, except where as disclosed;

          (e)  LITIGATION.   There  is  no  litigation  or   administrative   or
               governmental  proceeding or inquiry  pending or, to the knowledge
               of the Vendor,  threatened against or relating to the Claims, nor
               does the Vendor know of or have reasonable  grounds that there is
               any basis for any such action, proceeding or inquiry;

          (f)  NO  DEFAULTS.  Except as  otherwise  expressly  disclosed in this
               Agreement  there has not been any default in any obligation to be
               performed under any of the Claims, which are in good standing and
               in full force and appropriate effect; and

          (g)  GOOD STANDING.  Prior to closing this Agreement,  the Vendor will
               maintain, as required, the Claims in good standing.

4.     COVENANTS OF THE VENDOR

4.1    PROCURE CONSENTS.  The Vendor will diligently and expeditiously  take all
       reasonable  steps  requested  by the  Purchaser  to obtain all  necessary
       consents to effect the transfer of the Claims.

4.2    COVENANT OF  INDEMNITY.  The Vendor will  indemnify and hold harmless the
       Purchaser from and against:

          (a)  any and all liabilities, whether accrued, absolute, contingent or
               otherwise,  existing  at  closing  and which are not agreed to be
               assumed by the Purchaser under this Agreement;

          (b)  any and  all  losses,  claims,  damages  and  costs  incurred  or
               suffered by the Purchaser arising out of the breach or inaccuracy
               of any representation or warranty of the Vendor contained in this
               Agreement; and

          (c)  any and all actions, suits,  proceedings,  demands,  assessments,
               judgments,  costs and legal and other expenses incident to any of
               the foregoing.

4.3    EXECUTION  OF ALL  NECESSARY  DOCUMENTS.  The  Vendor  will  execute  all
       necessary  documents  including  such  assignments  as the  Purchaser may
       require to effect the  transfer of all of the Claims,  including  but not
       limited to, internet contracts and internet names.

5.     REPRESENTATIONS OF THE PURCHASER

5.1    REPRESENTATIONS.  The Purchaser  represents and warrants to the Vendor as
       follows,   with  the  intent   that  the   Vendor   will  rely  on  these

                                       3
<PAGE>
       representations  and warranties in entering into this  Agreement,  and in
       concluding the purchase and sale contemplated by this Agreement:

          (a)  STATUS  OF  PURCHASER.   The  Purchaser  is  a  corporation  duly
               incorporated,  validly  existing and in good standing and has the
               power and capacity to enter into this Agreement and carry out its
               terms; and

          (b)  AUTHORITY  TO  PURCHASE.  The  execution  and  delivery  of  this
               Agreement and the completion of the  transaction  contemplated by
               this  Agreement  has been  duly  and  validly  authorized  by all
               necessary corporate action on the part of the Purchaser, and this
               Agreement  constitutes a legal,  valid and binding  obligation of
               the  Purchaser  enforceable  against the  Purchaser in accordance
               with its terms  except as limited by laws of general  application
               affecting the rights of creditors.

6.     COVENANTS OF THE PURCHASER

6.1    CONSENTS.  The  Purchaser  will at the request of the Vendor  execute and
       deliver such applications for consent and such assumption agreements, and
       provide  such  information  as may be  necessary  to obtain the  consents
       referred  to in  paragraph  4.1 and will  assist and  cooperate  with the
       Vendor in obtaining the consents.

6.2    EXECUTION OF ALL  NECESSARY  DOCUMENTS.  The  Purchaser  will execute all
       necessary  documents  as the Vendor may require to effect the transfer of
       all of the Claims.

7.     SURVIVAL OF REPRESENTATIONS AND COVENANTS

7.1    VENDOR'S  REPRESENTATIONS AND COVENANTS.  All representations,  covenants
       and  agreements  made by the  Vendor  in this  Agreement  or  under  this
       Agreement will, unless otherwise  expressly  stated,  survive closing and
       any  investigation at any time made by or on behalf of the Purchaser will
       continue in full force and effect for the benefit of the Purchaser.

7.2    PURCHASER'S REPRESENTATIONS AND COVENANTS. All representations, covenants
       and  agreements  made by the  Purchaser  in this  Agreement or under this
       Agreement will, unless otherwise  expressly  stated,  survive closing and
       any investigation at any time made by or on behalf of the Vendor and will
       continue in full force and effect for the benefit of the Vendor.

8.     LIABILITIES NOT ASSUMED

8.1    LIABILITIES NOT ASSUMED. The Purchaser will not assume any liabilities of
       the Vendor.  The Purchaser will not be  responsible  for any liability of
       the Vendor,  past,  present or future,  relating  to the Claims,  and the
       Vendor will  indemnify and save  harmless the Purchaser  from and against
       any such claim.

                                       4
<PAGE>
9.     CONDITIONS PRECEDENT TO THE OBLIGATIONS OF THE PURCHASER

9.1    CONDITIONS.  All  obligations  of the Purchaser  under this Agreement are
       subject to the fulfillment of the following conditions:

          (a)  VENDOR'S REPRESENTATIONS.  The Vendor's representations contained
               in this Agreement will be true.

          (b)  VENDOR'S  COVENANTS.  The Vendor will have performed and complied
               with all agreements, covenants and conditions as required by this
               Agreement.

          (c)  CONSENTS.  The Purchaser will have received duly executed  copies
               of the consents or approvals referred to in paragraph 4.1.

9.2    EXCLUSIVE BENEFIT. The foregoing conditions are for the exclusive benefit
       of the Purchaser and any such condition may be waived in whole or in part
       by the Purchaser delivering to the Vendor a written waiver to that effect
       signed by the Purchaser.

10.    CONDITIONS PRECEDENT TO THE OBLIGATIONS OF THE VENDOR

10.1   CONDITIONS.  All  obligations  of the  Vendor  under this  Agreement  are
       subject to the fulfillment of the following conditions:

          (a)  PURCHASER'S  REPRESENTATIONS.   The  Purchaser's  representations
               contained in this Agreement will be true.

          (b)  PURCHASER'S  COVENANTS.  The  Purchaser  will have  performed and
               complied  with  all  covenants,   agreements  and  conditions  as
               required by this Agreement.

          (c)  CONSENTS OF THIRD PARTIES.  All consents or approvals required to
               be obtained  by the Vendor for the purpose of selling,  assigning
               or transferring the Claims have been obtained, provided that this
               condition may only be relied upon by the Vendor if the Vendor has
               diligently  exercised  its  best  efforts  to  procure  all  such
               consents or approvals  and the  Purchaser has not waived the need
               for all such consents or approvals.

10.2   EXCLUSIVE BENEFIT. The foregoing conditions are for the exclusive benefit
       of the Vendor and any such condition may be waived in whole or in part by
       the Vendor  delivering to the  Purchaser a written  waiver to that effect
       signed by the Vendor.

                                       5
<PAGE>
11.    GENERAL

11.1   GOVERNING LAW. This Agreement and each of the documents  contemplated  by
       or delivered  under or in  connection  with this  Agreement  are governed
       exclusively  by,  and  are  to be  enforced,  construed  and  interpreted
       exclusively in accordance with the laws of British Columbia which will be
       deemed to be the proper law of the Agreement.

11.2   PROFESSIONAL   FEES.   Each  of  the  parties  will  bear  the  fees  and
       disbursements  of their  respective  lawyers,  advisers  and  consultants
       engaged  by  them   respectively  in  connection  with  the  transactions
       contemplated by this Agreement prior to the closing.

11.3   ASSIGNMENT.  No party will  assign  this  Agreement,  or any part of this
       Agreement,  without the prior  written  consent of the other  party.  Any
       purported  assignment  without  the  required  consent is not  binding or
       enforceable against any party.

11.4   ENUREMENT.  This Agreement enures to the benefit of and binds the parties
       and their respective successors and permitted assigns.

11.5   NOTICE.  All  notices  required  or  permitted  to be  given  under  this
       Agreement will be in writing and  personally  delivered to the address of
       the intended  recipient set out on the first page of this Agreement or at
       such  other  address as may from time to time be  notified  by any of the
       parties in the manner provided in this Agreement.

11.6   FURTHER  ASSURANCES.  The  parties  will  execute and deliver all further
       documents and take all further action reasonably necessary or appropriate
       to give  effect to the  provisions  and intent of this  Agreement  and to
       complete the transactions contemplated by this Agreement.

11.7   REMEDIES  CUMULATIVE.  The rights and remedies  under this  Agreement are
       cumulative and are in addition to and not in  substitution  for any other
       rights and remedies available at law or in equity or otherwise. Any party
       to this  Agreement may terminate  this Agreement if any other party is in
       breach  of or  defaults  under any  material  term or  condition  of this
       Agreement or has made a material  misrepresentation in this Agreement. No
       single or partial exercise by a party of any right or remedy precludes or
       otherwise affects the exercise of any other right or remedy to which that
       party may be entitled.

11.8   ENTIRE AGREEMENT. This Agreement constitutes the entire agreement between
       the  parties  and  there  are no  representations,  express  or  implied,
       statutory  or  otherwise  and no  collateral  agreements  other  than  as
       expressly set out or referred to in this Agreement.

11.9   HEADINGS.  The division of this Agreement into sections and the insertion
       of  headings  are  for  convenience  only  and do not  form  part of this

                                       6
<PAGE>
       Agreement and will not be used to  interpret,  define or limit the scope,
       extent or intent of this Agreement.

11.10  SEVERABILITY.  Each  provision  of this  Agreement is  severable.  If any
       provision  of  this   Agreement  is  or  becomes   illegal,   invalid  or
       unenforceable,  the illegality,  invalidity or  unenforceability  of that
       provision will not affect the legality, validity or enforceability of the
       remaining provisions of this Agreement.

11.11  SCHEDULES.  The Schedules  attached  hereto form an integral part of this
       Agreement.

11.12  TIME OF THE ESSENCE. Time will be of the essence of this Agreement.

11.13  COUNTERPARTS.  This  Agreement  and  all  documents  contemplated  by  or
       delivered in connection with this Agreement may be executed and delivered
       by  facsimile  or original  and in any number of  counterparts,  and each
       executed  counterpart will be considered to be an original.  All executed
       counterparts taken together will constitute one agreement.

IN WITNESS  WHEREOF the parties have duly executed this  Agreement by their duly
authorized officers effective the first day and year written above.

VENDOR:  JERVIS EXPLORATION INC.

per:
    --------------------------------------------
    Authorized Signatory

PURCHASER: LA PAZ MINING CORP.

per:
    --------------------------------------------
    Authorized Signatory

                                       7
<PAGE>
                                  SCHEDULE "A"

THIS IS SCHEDULE "A" to the Asset Purchase Agreement.

                      INVOICE FOR MINERAL PROPERTY PURCHASE

TO: CHARLES IRIZARRY
    LA PAZ MINING CORP.

FROM: JERVIS EXPLORATION INC.

RE: BEE URANIUM PROPERTY PAYMENT

PROPERTY:  The Property consists of the following Claims:
-----------

     NAME              NUMBER            HECTARES         EXPIRY DATE
     ----              ------            --------         -----------
     BEE               928770             126.45          NOV. 9, 2012

TERMS:  $20,000 USD, DUE UPON  RECEIPT OF PROPERTY  REPORT,  PLUS 3% NET SMELTER
RETURN AS DESCRIBED IN APPENDIX "A"

                                       8
<PAGE>
APPENDIX "A" - ROYALTY

                             3% NET SMELTER RETURNS

1. In this  Agreement,  "3% NET SMELTER  RETURNS"  means 3% of the net amount of
money received by the Purchaser for its own account from the sale of ore, or ore
concentrates  or other  mineral  products  from the Claims to a smelter or other
mineral products buyer after deduction of smelter and/or refining  charges,  ore
treatment  charges,  penalties  and any and all charges made by the purchaser of
ore,  concentrates,  or other mineral products,  less any and all transportation
costs which may be  incurred in  connection  with the  transportation  of ore or
concentrates,  less all umpire  charges  which the  purchaser may be required to
pay.

2. Payment of Net Smelter  Returns by the  Purchaser to the Vendor shall be made
semi-annually  within  60 days  after  the end of each  fiscal  half year of the
Purchaser and shall be accompanied by unaudited financial statements  pertaining
to the  operations  carried out by the  Purchaser on the Claims.  Within 90 days
after the end of each fiscal year of the Purchaser in which Net Smelter  Returns
are  payable to the  Vendor,  the records  relating  to the  calculation  of Net
Smelter Returns for such year shall be audited and any resulting  adjustments in
the  payment  of Net  Smelter  Returns  payable  to the  Vendor  shall  be  made
forthwith.  A copy of the said audit shall be delivered to the Vendor  within 30
days of the end of such 90-day period.

3. Each annual  audit shall be final and not  subject to  adjustment  unless the
Vendor delivers to the Purchaser written  exceptions in reasonable detail within
six  months  after  the  Vendor  receives  the  report.   The  Vendor,   or  its
representative duly authorized in writing, at its expense,  shall have the right
to audit the books and records of the Purchaser  related to Net Smelter  Returns
to determine the accuracy of the report,  but shall not have access to any other
books and records of the Purchaser.  The audit shall be conducted by a chartered
or certified public accountant of recognized standing.  The Purchaser shall have
the right to condition access to its books and records on execution of a written
agreement by the auditor that all  information  will be held in  confidence  and
used solely for purposes of audit and resolution of any disputes  related to the
report.  A copy of the Vendor's  report shall be delivered to the Purchaser upon
completion,  and  any  discrepancy  between  the  amount  actually  paid  by the
Purchaser  and the amount which should have been paid  according to the Vendor's
report shall be paid  forthwith,  one party to the other.  In the event that the
said  discrepancy is to the detriment of the Vendor and exceeds 5% of the amount
actually paid by the Purchaser,  then the Purchaser shall pay the entire cost of
the audit.

4. Any dispute arising out of or related to any report, payment,  calculation or
audit shall be resolved  solely by arbitration as provided in the Agreement.  No
error in accounting or in interpretation of the Agreement shall be the basis for
a claim of breach of fiduciary  duty,  or the like,  or give rise to a claim for
exemplary or punitive  damages or for termination or rescission of the Agreement
or the estate and rights  acquired and held by the Purchaser  under the terms of
the Agreement.

                                       9

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