Document:

LEASE AGREEMENT

 EXHIBIT 10.3 
  
 LEASE AGREEMENT 
  
 THIS LEASE AGREEMENT (“Agreement”), made and executed to be effective as of
                     , 2004, by and between NEW RIVER PHARMACEUTICALS INC., a Virginia corporation (“NEW RIVER”), and
THIRD SECURITY, LLC, a Virginia limited liability company (“THIRD SECURITY”), 
  
 W I T N E S S E T H: 
  
 For and in consideration of the covenants, undertakings and rents reserved herein and the mutual benefits to be derived herefrom, the parties hereto agree as follows: 
  
 1. LEASE OF PREMISES: THIRD SECURITY hereby provides to NEW RIVER, and NEW RIVER hereby accepts from THIRD SECURITY, upon the
terms and conditions herein set forth, the license to use that certain part of the building located at 1881 Grove Avenue, Radford, Virginia 24141 (the “Building”) consisting of the area shown with cross-hatch on the floor plan annexed
hereto marked Exhibit A (hereinafter the “Premises”). This Agreement and the fees reserved herein also cover NEW RIVER’s right to use the common area described herein, in common with THIRD SECURITY and other tenants of the
Building, and access to visitor parking, as needed by NEW RIVER. 
  
 2.
AGREEMENT TERM: This Agreement and the tenancy hereby created shall have a term of two (2) years (the “Term”) commencing on
                     (the “Commencement Date”). Provided Tenant is current in its obligations and is not in default in accordance
with the terms of this Agreement, NEW RIVER shall have the option, by providing written notice to the THIRD SECURITY at least sixty (60) days before the expiration of the Term, to renew this Agreement for three (3) consecutive one (1) year periods
upon the same terms and conditions as the original Term, except the license fee which shall be hereinafter set forth. 
  
 3. FEES: 
  

	 	(a)	Base Fee. NEW RIVER promises to pay to THIRD SECURITY, as a rental fee for the Premises, the total shown on the Floor Space Schedule annexed hereto marked Exhibit
B for each and every calendar month of the term of this Agreement (the “Base Fee”); provided, however, such Base Fee may be adjusted from time to time as provided in paragraph 4 hereof. If NEW RIVER exercises its right to renew
the Term as provided in paragraph 2, the Base Fee shall increase         % for each year and continue to be payable in monthly installments. 

  

	 	(b)	 Payment. Commencing on the Commencement Date and continuing on or before the first day of each month thereafter, NEW RIVER shall timely pay to the
THIRD SECURITY the Base Fee and all additional sums to be paid by NEW RIVER to the THIRD SECURITY under the terms of this Agreement, without deduction, offset or counterclaim. All payments owed pursuant to this Agreement 

  

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during the Term hereof shall be paid to THIRD SECURITY at such place as THIRD SECURITY may, from time to time, designate in writing and until further such
designation, such place shall be the business office of THIRD SECURITY at 1881 Grove Avenue, Radford, Virginia 24141. In the event NEW RIVER fails to pay any fee or other payment owed to THIRD SECURITY pursuant to this Agreement within fifteen (15)
days after such payment is due, NEW RIVER agrees to pay to THIRD SECURITY, as an additional late fee, a sum equal to five percent (5%) per month of each such delinquent payment.  

  
 4. FEE ADJUSTMENTS: NEW RIVER agrees that the monthly Base Fee payable as
provided in Paragraph 3 hereinabove will be increased if the floor space used by NEW RIVER exceeds those figures used in the Floor Space Schedule annexed hereto marked Exhibit B. In that case, Exhibit B will be adjusted accordingly and
the revised Base Fee will be payable effective with the first month after the additional floor space is used. NEW RIVER acknowledges that all requests for additional space are subject to space availability. 
  
 5. COMMON AREAS: Common areas include parking areas, entrances and exits
thereto, driveways, sidewalks, landscaped areas, reception area, unrestricted hallways, unrestricted lavatories, and other areas and facilities provided and designated by THIRD SECURITY for the common or joint use and benefit of all occupants of the
Building, and their respective employees, agents, customers and invitees. THIRD SECURITY shall maintain all of the common areas in such a manner and at such a cost as THIRD SECURITY may determine necessary and proper. THIRD SECURITY reserves the
right to alter said common areas and to exercise control and management of the common areas and to establish, modify, change and enforce such rules and regulations as THIRD SECURITY, in its sole discretion, may deem necessary or desirable,
including, without limitation, reasonable regulation of traffic patterns within parking areas and the designation of specific parking spaces to be used by all customers, employees and officers of NEW RIVER. NEW RIVER agrees to abide by and conform
to such rules and regulations and shall be responsible for compliance with the same by its employees, agents, customers and invitees. The failure of THIRD SECURITY to enforce any such rules and regulations against NEW RIVER or any other tenant of
the Building shall not be deemed to be a waiver thereof. THIRD SECURITY shall have the right to close portions of the common areas at such times and for such periods as THIRD SECURITY may deem necessary and proper for purposes of maintenance and
repair as may be required from time to time. 
  
 6. AUTHORIZED USE:
NEW RIVER shall use and occupy the Premises during the entire Term as office space for senior executives of NEW RIVER, and for no other purpose, without the prior written consent of THIRD SECURITY, which consent may be withheld by THIRD SECURITY in
its sole discretion. No use shall be made of the Premises nor any act done in or about the Premises that is unlawful or that will increase the existing rate of insurance on the Building. NEW RIVER agrees to observe such rules and regulations as may
be adopted and published by THIRD SECURITY from time to time for the safety, care and cleanliness of the Premises and for the security of THIRD SECURITY’s business. 
  
 7. POSSESSION: So long as NEW RIVER shall fully comply with and promptly perform all of the material terms, covenants and
conditions of this Agreement and the rules and regulations on its part to be complied with and performed, NEW RIVER shall have and quietly 

  

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enjoy possession of the Premises for the Term set forth herein. NEW RIVER’s occupation and possession of the Premises as of the Commencement Date shall
be deemed NEW RIVER’s agreement and acknowledgment that the Premises are then in a tenantable and good condition. 
  
 8. SECURITY: NEW RIVER acknowledges that access to the Premises is limited and strictly controlled. NEW RIVER agrees to cause all of its employees, agents,
customers and invitees to comply with any and all rules and regulations established by THIRD SECURITY to assure the security if its Building. NEW RIVER’s officers, employees, agents, customers and invitees shall not access portions of the THIRD
SECURITY’s Building other than the Premises, the Common Areas, and the areas specifically designated accessible to NEW RIVER by THIRD SECURITY. THIRD SECURITY shall distribute access control cards to NEW RIVER to be used only to gain access to
the Premises. NEW RIVER shall not reproduce or permit reproduction of the access control card. In the event that a person to whom an access control card is issued shall leave the employ of NEW RIVER or shall no longer be an officer of NEW RIVER,
such access control card shall be returned to NEW RIVER immediately. Upon the expiration or sooner termination of this Agreement, all access control cards distributed to NEW RIVER shall be surrendered immediately to THIRD SECURITY. 
  
 9. MAINTENANCE AND SERVICES PROVIDED BY COMPANY: THIRD SECURITY shall maintain
the roof, exterior walls and structural members of the Building, in reasonably good order and condition, except for damage occasioned by the acts of NEW RIVER or NEW RIVER’s officers, employees and agents. 
  
 THIRD SECURITY shall provide lighting, electrical power (110-volt AC power),
air conditioning, water, sewer service, refuse disposal service and janitorial service, all within the normal requirements of such utilities and services for which the occupancy of NEW RIVER under this Agreement is contemplated. THIRD SECURITY shall
also provide a security alarm system for the Building. THIRD SECURITY reserves the right to stop any of the aforesaid services provided through it immediately upon notice at the Premises, if and when THIRD SECURITY reasonably deems such stoppage
necessary and prudent because of an emergency. THIRD SECURITY also reserves the right to stop any of said services after reasonable notice of at least thirty (30) days, for repairs and/or improvements of the Building; provided, however, THIRD
SECURITY shall not cause such stoppage if it would not, in the ordinary course of business, cause such a stoppage if it affected its own switching equipment located in the Building. THIRD SECURITY does not warrant that any services provided through
it will be free from interruptions caused by labor controversies, governmental regulations, accidents, inability to obtain fuel, water or supplies, or other causes beyond the reasonable control of THIRD SECURITY, but THIRD SECURITY shall use
commercially reasonable efforts to restore such services within a reasonable period of time following such interruption. 
  
 THIRD SECURITY shall maintain in common areas of the Building, the parking areas and the common access areas which are part of the Premises in reasonably
good order and condition, except for damage occasioned thereto by the acts of NEW RIVER or NEW RIVER’s officers, employees and agents, and THIRD SECURITY shall furnish such areas with required utility services during ordinary business hours of
the Building and shall provide lighting replacement for such areas. THIRD SECURITY shall not be liable to NEW RIVER for any loss or damage caused by or resulting from any variation, interruption or failure of utility services to 

  

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be provided by THIRD SECURITY pursuant to this Agreement due to accident or strike or conditions or events not under THIRD SECURITY’s control, nor shall
such variation, interruption or failure of utility services be deemed an eviction of NEW RIVER or release NEW RIVER from any of NEW RIVER’s obligations hereunder. 
  
 10. SPECIAL SERVICES: To the extent that NEW RIVER’s requested use of facsimile machines, photocopiers, printers and
conference rooms present in the common area of the Building does not interfere with THIRD SECURITY’s use of such resources and facilities, NEW RIVER shall be permitted to use such resources and facilities at no additional monthly fee.

  
 11. CARE OF PREMISES, REPAIRS AND ALTERATIONS: NEW RIVER shall
take good care of the Premises. NEW RIVER shall be responsible for timely payment of all other services furnished to or provided for the Premises that are not to be provided by or through THIRD SECURITY as set forth hereinabove. Upon termination of
this Agreement by the expiration of time or as otherwise provided herein, NEW RIVER shall promptly and peacefully yield and surrender the Premises to THIRD SECURITY in as good condition as when received by NEW RIVER, or as hereafter improved,
reasonable wear and tear and damage by fire or other casualty excepted. NEW RIVER hereby waives any right to make repairs at THIRD SECURITY’s expense. NEW RIVER shall not make any alterations, additions or improvements in or to the Premises
(including, but not limited to, locks on doors), or add to, disturb or in any other way change any plumbing or wiring without first obtaining the written consent of THIRD SECURITY, which consent may be withheld by THIRD SECURITY in its sole
discretion. All damage or injury done to the Premises by NEW RIVER, or by any person who may be in or upon the Premises with the consent of NEW RIVER, shall be paid for by NEW RIVER, and NEW RIVER shall pay for all damage to the Building caused by
NEW RIVER’s misuse of the same. 
  
 12. ENTRY AND INSPECTION:
NEW RIVER agrees to permit THIRD SECURITY and THIRD SECURITY’s agents to enter the Premises at all times for the purpose of inspecting the same or for the purpose of cleaning, repairing, altering or improving the Premises. Nothing contained in
this paragraph shall be deemed to impose any obligation upon THIRD SECURITY not expressly set forth elsewhere in this Agreement. Whenever necessary in an emergency, THIRD SECURITY may temporarily close entrance doors, corridors, and other facilities
of the Building without liability to NEW RIVER by reason of such closure and without such action by THIRD SECURITY being construed as an eviction of NEW RIVER or relieving NEW RIVER from the duty of observing and performing any of the provisions of
this Agreement. 
  
 13. TAXES, FRANCHISE FEES AND LICENSE FEES: NEW
RIVER shall be liable for and pay, through the Term of this Agreement, any and all franchise fees, license fees, excise taxes and occupation taxes applicable to the business conducted by NEW RIVER on the Premises, and all applicable ad valorem taxes
levied and assessed upon the personal property of NEW RIVER maintained on the Premises. As between the parties hereto, THIRD SECURITY shall be responsible for all real property ad valorem taxes levied and assessed upon the land and improvements of
which the Premises are a part. 
  
 The parties acknowledge and
agree that the Base Fee provided in Paragraphs 3 and 4 hereof are exclusive of any sales tax, use tax, or other similar taxes levied on or with respect to 

  

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the Base Fee payable to THIRD SECURITY hereunder. If during the Term of this Agreement any such taxes shall become payable by THIRD SECURITY to any
governmental authority, the Base Fee hereunder shall be deemed increased to net THIRD SECURITY the same revenue after THIRD SECURITY’s payment of any such tax, as would have been payable to the THIRD SECURITY prior to the imposition of any such
tax. The foregoing provision does not include, and shall not be construed to impose on NEW RIVER, any liability to pay any income taxes payable by THIRD SECURITY. 
  
 14. LIABILITY AND INDEMNIFICATION: 
  
 Each party’s liability to the other (as distinct from payments provided pursuant to this Agreement) for any loss, cost, claim, injury, liability or
expense, including but not limited to reasonable attorney’s fees, relating to or arising out of any act or omission in its performance of this Agreement or for breach of this Agreement shall be limited to the amount of direct damage actually
incurred; provided, however, that notwithstanding anything herein to the contrary, in no event shall “direct damages” be deemed to include lost profits, lost business or loss of future business opportunities of any kind. 
  
 Each Party (the “Indemnifying Party”) shall defend and indemnify
the other Party and save the other Party harmless, from and against any and all loss, damage, liability or expense (including attorney’s fees and other expenses of litigation) arising or resulting from any actual or alleged injury or death to
any person or from any actual or alleged loss of or damage to any property, caused by or resulting from any act or omission of the Indemnifying Party or any officer, employee, contractor, licensee, agent, servant, guest, invitee or visitor of the
Indemnifying Party; provided, however, that the foregoing provisions shall not be construed to make the Indemnifying Party responsible for any loss, damage, liability or expense resulting from injuries to third parties caused by the negligence of
the other party, or any officer, employee, contractor, licensee, business invitee or visitor of the other party; and provided further that in no event shall either party be liable to the other for any lost profits, lost business, or loss of future
business opportunities of any kind, whether suffered or incurred by either party or by an existing, potential, or future customer of such party. 
  
 15. LIABILITY INSURANCE: Throughout the Term of this Agreement, and any and all extensions of such Term, NEW RIVER shall maintain a policy or
policies of comprehensive general liability insurance providing coverage against claims for bodily injury, death or property damage arising out of the use or occupancy of the Premises by NEW RIVER, in a combined single limit amount of not less than
$1,000,000. The policy or policies of insurance required to be maintained by NEW RIVER pursuant to this paragraph shall name NEW RIVER and the THIRD SECURITY as insured parties as their respective interests may appear and may be carried under
blanket policies maintained by NEW RIVER if such policies comply with the provisions of this Agreement. The policy or policies of insurance required to be maintained by NEW RIVER pursuant to this paragraph shall provide that not less than thirty
(30) days prior written notice of any cancellation, termination, modification or lapse of coverage shall be given to THIRD SECURITY, and such insurance policy or policies shall not contain any provision relieving the insurers thereunder of liability
for any loss by reason of the existence of other policies of insurance covering the Premises against the perils involved, whether collectible or not. Upon request by THIRD SECURITY therefor, NEW RIVER shall deliver to THIRD 

  

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SECURITY certificates of NEW RIVER’s insurers evidencing all of the insurance that is required to be maintained by NEW RIVER hereunder. 
  
 16. ASSIGNMENT AND SUBLETTING: NEW RIVER shall not assign this Agreement or
sublicense the Premises, or any part thereof without the THIRD SECURITY’s prior written consent, which consent may be withheld in THIRD SECURITY’s sole discretion. The terms of this paragraph shall be binding upon any person holding by,
under or through NEW RIVER. Notwithstanding the above, no permitted assignment or sublicense pursuant to this subsection shall release or discharge NEW RIVER from its duties and obligations hereunder. 
  
 17. LIENS: NEW RIVER shall keep the Premises free from any and all liens
arising out of any work performed, materials ordered or obligations incurred by NEW RIVER 
  
 18. DEFAULT AND TERMINATION: Except for a default under Paragraphs 8 and 19 hereinabove for which immediate right of termination is given to THIRD SECURITY, if NEW RIVER fails to pay any installment of
Base Fee within thirty (30) days after the date due, or to perform any other covenant under this Agreement within thirty (30) days after written notice from THIRD SECURITY stating the nature of such default, THIRD SECURITY may revoke the license
granted hereby and cancel this Agreement and re-enter and take possession of the Premises; provided, however, that if the nature of such default (other than for nonpayment of Base Fee) is such that the same cannot reasonably be cured within such
thirty-day period, NEW RIVER shall not be deemed to be in default if NEW RIVER shall, within such period, commence such cure and thereafter diligently pursue the same to completion. Notwithstanding such retaking of possession by THIRD SECURITY, NEW
RIVER’s liability for the Base Fee provided herein shall not be extinguished for the balance of the Term of this Agreement or any renewal thereof. NEW RIVER hereby waives any and all claims for damages that may be caused by THIRD
SECURITY’s reentering and taking possession of the Premises or removing and storing the property of NEW RIVER as provided in this Agreement, and NEW RIVER will save THIRD SECURITY harmless from any loss, costs or damages occasioned THIRD
SECURITY thereby, and no such re-entry shall be considered or construed to be a forcible entry. 
  
 19. REMOVAL OF PROPERTY: If NEW RIVER shall fail to remove any of its property of any nature whatsoever from the Premises after sixty (60) days following the termination or earlier expiration of this
Agreement or when THIRD SECURITY has the right of reentry, THIRD SECURITY may, at THIRD SECURITY’s option, remove and store such property without liability for loss thereof or damage thereto, such storage to be for the account and at the
expense of NEW RIVER. If NEW RIVER shall not pay the cost of storing any such property after the same has been stored for a period of sixty (60) days or more, THIRD SECURITY may, at THIRD SECURITY’s option, sell or permit to be sold, any or all
of such property at public or private sale, in such manner and at such times and places as THIRD SECURITY, in THIRD SECURITY’s discretion may deem proper, upon reasonable notice to NEW RIVER, and THIRD SECURITY shall apply the proceeds of such
sale first to the cost and expenses of such sale, including attorney’s fees actually incurred; second, to the payment of the costs of storing any such property; third, to the payment of any other obligations which may then be or thereafter
become due THIRD SECURITY from NEW RIVER pursuant to the terms hereof; and fourth, the balance, if any, to NEW RIVER. 
  

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 20. NON-WAIVER: A waiver by either party of any breach of any term, covenant or condition herein contained
shall not be deemed to be a future waiver of such term, covenant or condition or of any subsequent breach of the same or any other term, covenant or condition herein contained. 
  
 21. HOLDOVER: If NEW RIVER shall, with the consent of THIRD SECURITY, continue to occupy the Premises after the expiration of
the Term of this Agreement, such occupancy shall be for an indefinite period of time on a month-to-month basis, which occupancy may be terminated as provided by the laws of the Commonwealth of Virginia. During such occupancy, NEW RIVER agrees to pay
to THIRD SECURITY the Base Fee then determined payable as provided herein unless a different rate be agreed upon at such time, and to be bound by all the terms, covenants and conditions herein set forth insofar as applicable. 
  
 22. NOTICES: All notices required to be made and given under this Agreement
shall be in writing and delivered in person or sent by certified mail to THIRD SECURITY at the same place all other payments are made hereunder, and to NEW RIVER at the address specified below for NEW RIVER, or to such other addresses as may
hereafter be designated by either party to the other in writing. 
  
 23.
MISCELLANEOUS TERMS: 
  

	 	(a)	THIRD SECURITY shall furnish air conditioning and other environmental controls for the Premises in a manner that is reasonably consistent with the air conditioning and
environmental controls THIRD SECURITY employs for its own switching facilities in the Building. 

  

	 	(b)	Upon expiration of the Term of this Agreement, NEW RIVER shall, at its expense, disconnect and remove all of its office equipment from the Premises and from any other part of
the Building in which THIRD SECURITY has allowed NEW RIVER to place equipment. 

  
 24. COSTS AND ATTORNEY’S FEES: In the event of any action at law or in equity between THIRD SECURITY and NEW RIVER to enforce any of the terms and provisions of this Agreement or the rights of
either party hereunder, each party hereto agrees that the unsuccessful party to such litigation shall pay the successful party all costs and expenses incurred therein by such successful party, (including reasonable attorney’s fees), and if such
successful party shall recover judgment in any such action or proceeding, such costs and expenses, including reasonable attorney’s fees, shall be included in and made a part of such judgment. 
  
 25. CAPTIONS AND CONSTRUCTION: Paragraph titles of this Agreement are not a
part of this Agreement and shall have no effect upon the construction or interpretation of any part hereof. This Agreement shall be construed in accordance with and governed by the laws of the Commonwealth of Virginia. 
  
 26. SUCCESSORS: Subject to and consistent with the limitations on assignments
and sublicensing as provided in Paragraph 16 hereinabove, all of the covenants, agreements, terms and conditions contained in this Agreement shall apply to and be binding upon THIRD SECURITY and NEW RIVER and their respective successors and assigns.

  

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 27. SEVERABILITY: In the event any part of this Agreement is held to be unenforceable or invalid for any
reason, by any court of competent jurisdiction and if such invalidity or unenforceability shall materially impair achieving the purpose and intent of this Agreement, then this entire Agreement shall be invalid and unenforceable. Otherwise, this
Agreement shall be construed as if it did not contain the particular provision or provisions hereof held to be invalid or unenforceable, and the rights and obligations of the parties shall be construed and enforced accordingly. 
  
 28. EXHIBITS INCORPORATED: All exhibits annexed to and reference in this
Agreement are, by each and every reference thereto, incorporated herein as though fully set forth herein. 
  
 IN WITNESS WHEREOF, each of the parties hereto has made and caused this License Agreement, to be duly executed for it and on its behalf by its authorized
representative. 
  

			
	 NEW RIVER PHARMACEUTICALS INC.

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	Address:
	 New River Pharmaceuticals Inc.
 The Governor Tyler
 1881 Grove Avenue
 Radford, Virginia 24141

  

			
	 THIRD SECURITY, LLC

		
	By:	 	 
	 Name:
	 	 
	 Title:
	 	 
	
	Address:
	 Third Security, LLC
 The Governor Tyler
 1881 Grove Avenue
 Radford, Virginia 24141

  

 Page 8 of 8Exhibit 10.5

 EXHIBIT 10.5 
  
 SUBLEASE AGREEMENT 
  
 This is a Sublease Agreement (this “Agreement”), dated July 23, 2001 among Veterinary Technologies Corporation of 1872 Pratt Drive, Suite 1100, Blacksburg,
Virginia 24060 (“VTC”), New River Pharmaceuticals Inc. of 1861 Pratt Drive, Suite 1090, Blacksburg, Virginia 24060 (“New River”), and Virginia Tech Foundation, Inc., c/o Virginia Tech Corporate Research Center, Inc., 1872 Pratt
Drive, Suite 1000, Blacksburg, Virginia 24060 (“Landlord”) for the subletting of some laboratory space known as Research Building II, Suite 1120 (approximately 508 rentable square feet) located in the Virginia Tech Corporate Research
Center (“VTCRC”) at 1861 Pratt Drive, Blacksburg, Virginia 24060 (the “Sublet Premises”). 
  
 Whereas, VTC has leased the Sublet Premises from Landlord pursuant to a Renewal of Lease dated January 25, 2001, which remains in effect through January 31, 2002 (the “VTC Lease”), as set forth in Exhibit
A hereto; and 
  
 Whereas, New River has leased its own separate premises
within the VTCRC from Landlord pursuant to a Modification and Renewal of Lease dated April 25, 2001 (“New River Lease”), as set forth in Exhibit B hereto, under terms and conditions different than those set forth in the VTC Lease;
and 
  
 Whereas, subject to Landlord’s consent, New River is desirous of
subleasing the Sublet Premises from VTC on terms and conditions consistent with the New River Lease (rather than the VTC Lease); 
  
 Now therefore, in consideration of the foregoing recitals (which are hereby incorporated by reference and made a part of this Agreement), the mutual undertakings herein,
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
  
 1. New River agrees to sublease the Sublet Premises from VTC for a term from the date of this Agreement through January 18, 2002 (the “Sublet Term”). It is
expressly understood that this Agreement can only be extended by the written permission of VTC and Landlord. 
  
 2. With respect to the Sublet Premises, New River agrees to abide by all provisions of the New River Lease for the Sublet Term. To the extent that the terms and conditions of the VTC Lease differ from the terms and
conditions of the New River Lease, the New River Lease shall govern the rights and obligations of the parties regarding the Sublet Premises during the Sublet Term; provided, however, that this Agreement shall govern all payment obligations arising
in connection with the Sublet Premises during the Sublet Term between VTC and New River. VTC hereby agrees to remain current in its payment obligations to the Landlord under the VTC Lease for the Sublet Term. 
  
 3. As sublease rent for the Sublet Premises, New River agrees to pay VTC the sum of Six
Hundred Fifty Dollars and No Cents (US$650.00) per month, in advance of the eighteenth (18th) day of each month
during the Sublet Term. This sublease rent shall constitute the only payment by New River to VTC for the use of the Sublet Premises during the Sublet Term; provided, however, that for the Sublet Term New River shall convert all telephone,
electricity and internet accounts for the Sublet Premises into New River’s name, and during the Sublet Term New River 

 
shall be solely responsible for all charges made to such accounts during New River’s possession of the Sublet Premises. 
  
 4. The parties acknowledge that VTC has placed certain equipment and furnishing in the Sublet
Premises, and that New River is desirous of leasing from VTC said equipment and furnishing (as set forth in Exhibit C hereto) for use during the Sublet Term. As consideration for the lease of VTC’s equipment and furnishings during the
Sublet Term, New River agrees to pay VTC the sum of Three Hundred and Fifty Dollars (US$350.00) per month, in advance of the eighteenth (18th) day of each month during the Sublet Term. This payment shall constitute the only payment by New River to VTC for the use of VTC’s equipment and furnishings at the Sublet Premises during the Sublet Term, and New River
agrees to return such equipment and furnishing in good order and repair (normal wear and tear excepted) at the end of the Sublet Term. 
  
 5. In the event that VTC decides to continue the sublease of the Sublet Premises beyond the Sublet Term, VTC hereby gives and grants New River the right of first refusal
on said Sublet Premises. In the event that VTC ceases to rent the Sublet Premises from the Landlord, Landlord is aware that New River would like the right of first refusal on the Sublet Premises. 
  
 6. New River hereby agrees to indemnify VTC (including its directors, officers and employees)
and save VTC harmless from all claims, suits, actions, damages, liability and expense (including without limitation, reasonable attorney’s fees) resulting from New River’s use of the Sublet Premises during the Sublet Term, and VTC agrees
to indemnify New River (including its directors, officers and employees) and save New River harmless from all claims, suits, actions, damages, liability and expense (including, without limitation, reasonable attorney’s fees) resulting from or
arising in connection with the use or operation of the Sublet Premises before and subsequent to the Sublet Term. 
  
 7. No party shall be deemed an employee, partner or agent of the other. Rather, each party shall be an independent contractor to the other and as such, shall be liable
for its own acts and omissions and shall not in any way be liable for the acts and omissions of the other party, its agents, partners, or employees. 
  
 8. This Agreement shall be construed, and the respective rights of the parties hereto determined, according to the substantive laws of the Commonwealth of Virginia,
without regard to principles of conflict of laws. 
  
 9. This Agreement may be
executed in any number of counterparts, and the parties may execute and exchange facsimile copies of this Agreement, all of which taken together shall constitute one agreement. 
  
 10. Should any part or provision of this Agreement be held unenforceable or in conflict with the applicable laws or regulations of any
jurisdiction, the invalid or unenforceable part or provision shall be replaced with a provision which accomplishes, to the extent possible, the original business purpose of such part or provision in a valid and enforceable manner, and the remainder
of this Agreement shall remain binding upon the parties hereto. 

 11. This Agreement (including the Exhibits hereto) constitutes the entire agreement and understanding between the parties
hereto with respect to the subject matter of this Agreement and shall supersede any prior or contemporaneous agreements, negotiations, understandings, representations, statements and writings relating thereto. This Agreement may not be amended or
modified except in writing signed by a duly authorized officer of the party against whom enforcement of such amendment is sought. 
  
 IN WITNESS WHEREOF, this Agreement is entered into by the duly authorized representatives of the parties hereto as of the date first set forth above. 
  
  
 Veterinary
Technologies Corporation 
  

			
	              /s/ Gerhardt
Schurig
	  	7/20/01
	 Gerhardt Schurig, President
	  	Date

  
  
 New River Pharmaceuticals Inc. 
  

			
	              /s/ Thomas
Piccariello
	  	7/27/01
	 Thomas Piccariello, Vice President, Polypeptide Drug Development
	  	Date

  
  
 Virginia Tech Foundation, Inc. 
  

			
	              /s/ Raymond D. Smoot,
Jr.
	  	8/5/01
	 	  	Date

  

 RENEWAL OF SUBLEASE 
  
 THIS RENEWAL OF SUBLEASE is made and entered into this 24th day of January, 2002, by and between Veterinary Technologies Corporation, hereinafter called Tenant; New River Pharmaceuticals Inc., hereinafter called
Subtenant; and Virginia Tech Foundation, Inc., hereinafter called Landlord. The terms Tenant and Subtenant are intended to include the successors and assigns of the original parties and their heirs, legal representatives, successors and assigns of
the respective entities. 
  
 WHEREAS, on July 23, 2001, the Tenant and Subtenant
entered into a Sublease Agreement in writing of the following demised premises, situated in Montgomery County, Virginia, to wit: 
  
 Suite 1120 in Research Building II, 
 1861 Pratt Drive, Blacksburg, Virginia. 
  
 WHEREAS, the Tenant and Subtenant desire to renew the original sublease thereto, 
  
 THEREFORE, IT IS MUTUALLY AGREED AS FOLLOWS: 
  

	1.	 	The purpose of this modification is to renew the Sublease for the Demised Premises for a period of six months, commencing on January 19, 2002, and ending on June 18, 2002.

  

	2.	 	The monthly rental for the renewal term shall be Six Hundred Eighty Seven and 92/100 Dollars ($687.92). 

  

	3.	 	The monthly furnishings and equipment rental for the renewal term shall be Four Hundred Twelve and 08/100 Dollars ($412.08). 

  

	4.	 	All other terms and conditions of the Sublease are in full force and effect. 

  

IN WITNESS WHEREOF, this Sublease Renewal is entered into by the parties hereto on the date and year first set forth above: 
  
  
 For Veterinary
Technologies Corporation 
  

			
	              /s/ Gerhardt
Schurig
	  	1/24/02
	 Gerhardt Schurig, President
	  	Date

  
  
 For New River Pharmaceuticals Inc. 
  

			
	              /s/ Thomas
Piccariello
	  	1/24/02
	 Thomas Piccariello, Vice President, Polypeptide Drug Development
	  	Date

  
 For Virginia Tech Foundation, Inc.

  

			
	              /s/ Raymond D. Smoot,
Jr.
	  	1/25/02
	 Raymond D. Smoot, Jr., Exec. Vice Pres. & Sec. Treas.
	  	Date

 RENEWAL OF SUBLEASE 
  
 THIS RENEWAL OF SUBLEASE is made and entered into this 19th day of June, 2002, by and between Veterinary Technologies Corporation, hereinafter called Tenant; New River Pharmaceuticals Inc., hereinafter called
Subtenant; and Virginia Tech Foundation, Inc., hereinafter called Landlord. The terms Tenant and Subtenant are intended to include the successors and assigns of the original parties and their heirs, legal representatives, successors and assigns of
the respective entities. 
  
 WHEREAS, on July 23, 2001, the Tenant and Subtenant
entered into a Sublease Agreement in writing of the following demised premises, situated in Montgomery County, Virginia, to wit: 
  
 Suite 1120 in Research Building II, 
 1861 Pratt Drive, Blacksburg, Virginia. 
  
 WHEREAS, the Tenant and Subtenant desire to renew the original sublease thereto, 
  
 THEREFORE, IT IS MUTUALLY AGREED AS FOLLOWS: 
  

	1.	 	The purpose of this modification is to renew the Sublease for the Demised Premises for a period of six months, commencing on June 19, 2002, and ending on December 19, 2002.

  

	2.	 	The monthly rental for the renewal term shall be Six Hundred Eighty Seven and 92/100 Dollars ($687.92). 

  

	3.	 	The monthly furnishings and equipment rental for the renewal term shall be Four Hundred Sixty Two and 08/100 Dollars ($462.08). 

  

	4.	 	All other terms and conditions of the Sublease are in full force and effect. 

  

IN WITNESS WHEREOF, this Sublease Renewal is entered into by the parties hereto on the date and year first set forth above: 
  
  
 For Veterinary
Technologies Corporation 
  

			
	              /s/ Stephen M.
Boyle
	  	6/19/02
	 Stephen M. Boyle, Vice President for Research
	  	Date

  
  
 For New River Pharmaceuticals Inc. 
  

			
	              /s/ Thomas
Piccariello
	  	6/21/02
	 Thomas Piccariello, Vice President, Polypeptide Drug Development
	  	Date

  
 For Virginia Tech Foundation, Inc.

  

			
	              /s/ Raymond D. Smoot,
Jr.
	  	6/25/02
	 Raymond D. Smoot, Jr., Exec. Vice Pres. & Sec. Treas.
	  	Date

 RENEWAL OF SUBLEASE 
  
 THIS RENEWAL OF SUBLEASE is made and entered into this 1 day of December, 2002, by and between Veterinary Technologies Corporation,
hereinafter called Tenant; New River Pharmaceuticals Inc., hereinafter called Subtenant; and Virginia Tech Foundation, Inc., hereinafter called Landlord. The terms Tenant and Subtenant are intended to include the successors and assigns of the
original parties and their heirs, legal representatives, successors and assigns of the respective entities. 
  
 WHEREAS, on July 23, 2001, the Tenant and Subtenant entered into a Sublease Agreement in writing of the following demised premises, situated in Montgomery County, Virginia, to wit: 
  
 Suite 1120 in Research Building II, 
 1861 Pratt Drive, Blacksburg, Virginia. 
  
 WHEREAS, the Tenant and Subtenant desire to renew the original sublease thereto, 
  

THEREFORE, IT IS MUTUALLY AGREED AS FOLLOWS: 
  

	1.	 	The purpose of this modification is to renew the Sublease for the Demised Premises for a period of six months, commencing on December 20, 2002, and ending on June 19, 2003.

  

	2.	 	The monthly rental for the renewal term shall be Six Hundred Eighty Seven and 92/100 Dollars ($687.92). 

  

	3.	 	The monthly furnishings and equipment rental for the renewal term shall be Four Hundred Sixty Two and 08/100 Dollars ($462.08). 

  

	4.	 	All other terms and conditions of the Sublease are in full force and effect. 

  

IN WITNESS WHEREOF, this Sublease Renewal is entered into by the parties hereto on the date and year first set forth above: 
  
  
 For Veterinary
Technologies Corporation 
  

			
	              /s/ Stephen M.
Boyle
	  	11/18/02
	 Stephen M. Boyle, Vice President for Research
	  	Date

  
  
 For New River Pharmaceuticals Inc. 
  

			
	              /s/ Thomas
Piccariello
	  	11/19/02
	 Thomas Piccariello, Vice President, Polypeptide Drug Development
	  	Date

  
 For Virginia Tech Foundation, Inc.

  

			
	              /s/ Raymond D. Smoot,
Jr.
	  	11/16/02
	 Raymond D. Smoot, Jr., Exec. Vice Pres. & Sec. Treas.
	  	Date

 RENEWAL OF SUBLEASE 
  
 THIS RENEWAL OF SUBLEASE is made and entered into this              day
of June, 2003, by and between Veterinary Technologies Corporation, hereinafter called Tenant; New River Pharmaceuticals Inc., hereinafter called Subtenant; and Virginia Tech Foundation, Inc., hereinafter called Landlord. The terms Tenant and
Subtenant are intended to include the successors and assigns of the original parties and their heirs, legal representatives, successors and assigns of the respective entities. 
  
 WHEREAS, on July 23, 2001, the Tenant and Subtenant entered into a Sublease Agreement in writing of the following demised premises, situated
in Montgomery County, Virginia, to wit: 
  
 Suite 1120 in Research Building II, 
 1861 Pratt Drive, Blacksburg, Virginia 
  
 WHEREAS, the Tenant and Subtenant desire to renew the original sublease thereto, 

 
 THEREFORE, IT IS MUTUALLY AGREED AS FOLLOWS: 
  

	1.	 	The purpose of this modification is to renew the Sublease for the Demised Premises for a period of six months, commencing on June 20, 2003, and ending on December 19, 2003.

  

	2.	 	The monthly rental for the renewal term shall be Seven Hundred and 60/100 Dollars ($700.60). 

  

	3.	 	The monthly furnishings and equipment rental for the renewal term shall be Five Hundred Forty Nine and 40/100 Dollars ($549.40). 

  

	4.	 	All other terms and conditions of the Sublease are in full force and effect. 

  

IN WITNESS WHEREOF, this Sublease Renewal is entered into by the parties hereto on the date and year first set forth above: 
  
  
 For Veterinary
Technologies Corporation 
  

			
	              /s/ James W.
Hiney
	  	5/14/03
	 James W. Hiney, CEO
	  	Date

  
  
 For New River Pharmaceuticals Inc. 
  

			
	              /s/ Marcus E.
Smith
	  	5/29/03
	 Marcus E. Smith, Secretary
	  	Date

  
 For Virginia Tech Foundation, Inc.

  

			
	              /s/ Raymond D. Smoot,
Jr.
	  	6/5/03
	 Raymond D. Smoot, Jr., Exec. Vice Pres. & Sec. Treas.
	  	Date

 RENEWAL OF SUBLEASE 
  
 THIS RENEWAL OF SUBLEASE is made and entered into this              day
of December, 2003, by and between Veterinary Technologies Corporation, hereinafter called Tenant; New River Pharmaceuticals Inc., hereinafter called Subtenant; and Virginia Tech Foundation, Inc., hereinafter called Landlord. The terms Tenant and
Subtenant are intended to include the successors and assigns of the original parties and their heirs, legal representatives, successors and assigns of the respective entities. 
  
 WHEREAS, on July 23, 2001, the Tenant and Subtenant entered into a Sublease Agreement in writing of the following demised premises, situated
in Montgomery County, Virginia, to wit: 
  
 Suite 1120 in Research Building II, 
 1861 Pratt Drive, Blacksburg, Virginia 
  
 WHEREAS, the Tenant and Subtenant desire to renew the original sublease thereto, 

 
 THEREFORE, IT IS MUTUALLY AGREED AS FOLLOWS: 
  

	1.	 	The purpose of this modification is to renew the Sublease for the Demised Premises for a period of six months, commencing on December 20, 2003, and ending on June 19, 2004.

  

	2.	 	The monthly rental for the renewal term shall be Seven Hundred and 60/100 Dollars ($700.60). 

  

	3.	 	The monthly furnishings and equipment rental for the renewal term shall be Five Hundred Forty Nine and 40/100 Dollars ($549.40). 

  

	4.	 	All other terms and conditions of the Sublease are in full force and effect. 

  

IN WITNESS WHEREOF, this Sublease Renewal is entered into by the parties hereto on the date and year first set forth above: 
  
  
 For Veterinary
Technologies Corporation 
  

			
	              /s/ James W.
Hiney
	  	12/29/03
	 James W. Hiney, CEO
	  	Date

  
  
 For New River Pharmaceuticals Inc. 
  

			
	              /s/ Marcus E.
Smith
	  	12/18/03
	Marcus E. Smith, Secretary	  	Date

  
 For Virginia Tech Foundation, Inc.

  

			
	              /s/ Raymond D. Smoot,
Jr.
	  	1/8/04
	 Raymond D. Smoot, Jr., Exec. Vice Pres. & Sec. Treas.
	  	Date

 RENEWAL OF SUBLEASE 
  
 THIS RENEWAL OF SUBLEASE is made and entered into this 10th day of June 2004, by and between Veterinary Technologies Corporation, hereinafter called Tenant; New River Pharmaceuticals Inc., hereinafter called Subtenant;
and Virginia Tech Foundation, Inc., hereinafter called Landlord. The terms Tenant and Subtenant are intended to include the successors and assigns of the original parties and their heirs, legal representatives, successors and assigns of the
respective entities. 
  
 WHEREAS, on July 23, 2001, the Tenant and Subtenant
entered into a Sublease Agreement in writing of the following demised premises, situated in Montgomery County, Virginia, to wit: 
  
 Suite 1120 in Research Building II, 
 1861 Pratt Drive, Blacksburg, Virginia. 
  
 WHEREAS, the Tenant and Subtenant desire to renew the original sublease thereto, 
  
 THEREFORE, IT IS MUTUALLY AGREED AS FOLLOWS: 
  

	1.	 	The purpose of this modification is to renew the Sublease for the Demised Premises for a period of six months, commencing on June 19, 2004, and ending on December 20, 2004.

  

	2.	 	The monthly rental for the renewal term shall be Seven Hundred and 60/100 Dollars ($700.60). 

  

	3.	 	The monthly furnishings and equipment rental for the renewal term shall be Five Hundred Ninety Nine and 40/100 Dollars ($599.40). 

  

	4.	 	All other terms and conditions of the Sublease are in full force and effect. 

  

IN WITNESS WHEREOF, this Sublease Renewal is entered into by the parties hereto on the date and year first set forth above: 
  
  
 For Veterinary
Technologies Corporation 
  

			
	              /s/ S. M.
Boyle
	  	6/10/04
	 Stephen M. Boyle, Vice President for Research
	  	Date

  
  
 For New River Pharmaceuticals Inc. 
  

			
	              /s/ R. J.
Kirk
	  	6/14/04
	 Randal J. Kirk, President & CEO
	  	Date

  
  
 For Virginia Tech Foundation, Inc. 
  

			
	              /s/ Raymond D. Smoot,
Jr.
	  	6/17/04
	 Raymond D. Smoot, Jr., COO & Secretary-Treasurer
	  	Date

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